Definition of contingency fund in English:
A reserve of money set aside to cover possible unforeseen future expenses.
- Already, some states are salting away current surpluses, and there is a federal contingency fund that could provide some additional money.
- The small surplus that will be made this year will be used to cut the backlog of requests and provide a contingency fund to deal with any possible shortfall in predicted income.
- The zoo, near Winchester, is solely funded by visitor income and donations and is having to rely on a contingency fund to cover animal and staff costs.
Definition of contingency fund in:
- British & World English dictionary