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Funding: As of January202 <br />4621 0, the balance in this reserve is $1.6-54 million, which fully <br />� .1 <br />funds the projected liability. <br />Pension Stabilization Reserve <br />Purpose: The Pension Stabilization Reserve is committed for pension and OPEB obligations. <br />Use of Funds: The Pension Stabilization Reserve is set aside for funding of pension and OPEB costs and <br />the associated unfunded accrued liabilities and may be used to supplement annual <br />budgeted pension/OPEB expenses and for reduction in the unfunded accrued liabilities. <br />On June 6, 2019 the Board of Directors authorized transfer of $6 million to an IRS Section <br />115 Trust at PARS. On January 16, 2020, the Board of Directors authorized transfer of <br />additional $2.16 million to the trust. <br />Funding: This reserve balance -is $2-:901.66 million at January 21, 2021.0 <br />Capital Facilities Reserve <br />Purpose: The Capital Facilities Reserve is committed for the costs associated with adding and <br />replacing capital facilities. <br />Use of Funds: The Capital Facilities Reserve is set aside to provide funding associated with the <br />planning, design, funding options and actual construction of capital facilities such as, but <br />not limited to, buildings, parking lots, lighting, playgrounds, walkways, and irrigation <br />systems. <br />Funding: This reserve balance is $510,000 at January 2146. 20201 <br />