The reserve accumulated shall be available to make replacements required to maintain or restore the utility, function or revenue-producing capacity of the project. The classification of expenditures as “replacements” has been described in section 1647-4.2 as being predetermined by (a) the schedule of replacement reserve requirements and (b) the annual operating budget. The division, however, reserves the right to direct the classification or reclassification of expenditures as “replacements”. All charges for replacements shall be made directly to account 2510, Replacement Reserve. No charges for replacements shall be made to account 2511, Interest Earned on Reserve Fund Investments, or to account 2512, Gain or Loss on Disposition of Reserve Fund Investments, but balances available in the latter accounts may be transferred to account 2510 at the direction of the division or with its prior authorization and approval. No charge shall be made to account 2510 in excess of the credit balance therein or after said balance has been exhausted. Anticipated expenditures or commitments for replacements in excess of the balance available in account 2510 shall be submitted to the division for review and approval before being made. Careful planning, budgeting and classification, together with periodical review of replacement requirements should, however, result in a reserve adequate to meet all requirements as and when they occur. No charges shall be made to account 2510, Replacement Reserve, unless it appears in an approved operating budget or has been approved by the Division of Housing.