Establishing a reserve fund to cover regular building expenses. Is zakat due on this fund?

Scholars have generally agreed that among the conditions obligating zakat is full ownership of property i.e. exclusive right to dispose of the property and exclusive right to interest. Scholars stated that zakat is not due on money designated for a public benefit such as money endowed to benefit the poor, mosques, military campaigns or orphans since this money has no specific owner. Based on this principle, any property without a specific owner is considered public property that is not zakatable. Examples include properties administered and invested by the government on behalf of the community as these belong to the Public treasury.

The ruling
Based on the above, zakat is not due on the abovementioned reserve fund since it is not owned exclusively by a single person but is a public entity —its owners may change though the fund itself is retained.
And God the Almighty knows best.