contingency fund
/kənˈtɪn.dʒən.si ˈfʌnd/ · con·tin·gen·cy fund
noun
- A reserve of money set aside by an organization or government to cover unexpected expenses or emergencies. The municipality created a $10 million contingency fund to address any sudden infrastructure repairs.
- A specific fund established to provide financial assistance when a predefined contingency, such as a natural disaster, occurs. After the hurricane, the state tapped its contingency fund to reimburse affected homeowners.
Synonyms
reserve fundrainy‑day fundemergency fundspare fundbackup fundsavings buffercontingency reservecontingent fund
Antonyms
Did you know? The United States Constitution authorizes a federal contingency fund, and the United Kingdom’s Contingencies Fund, created in 1974, is the oldest continuously used emergency reserve in modern government.