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[Music] welcome to the statewide learning management system course on funds reservation todays lesson will teach you how to calculate the amount of funding that needs to be reserved against both a new contract and a contract amendment and will explain how to calculate the amount of funding to be reserved what is a reservation of funds a reservation of funds also known as a pre-encumbrance sets aside a portion of an agencys appropriation for payments to be made against the contract throughout the fiscal year this ensures that financing will be available for intended expenses against this contract once funds are reserved they are not available to be used for anything other than the specified purpose an agency should not reduce the amount of funding reserved unless the contract value is also being reduced ingly the office of the state comptroller requires a full reservation of funds to be obligated through the end of the current fiscal year please note that construction-related contract