Much of this will depend on the laws of your state.  In Ohio for example reserves are selected and certified to the same standards of full timers.  There is one training standard for all and reserves must attend the same basic academy as full timers.  Some of these are however evening and weekend academies in order to accomodate time schedules.  Reserves fall into three categories from my observation.  Young guys looking to get experience on their way to full time employment, those who enjoy the community service aspect and want to only be a reserve and have other more lucrative employment, and seasoned veterans who join after retirement from full time LE, or left prior to retirement for a more lucrative private sector career.  I fall into the last category.  Reserves are great for extra manpower when needed and are great as the extra man in the car.  Those in the latter category also bring a wealth of knowledge and experience that would otherwise be wasted.  

Policy and procedure are easy.  They are the same as for full timers, except for the working hours.  In general reserves work based upon their availability.  There may be certain required events or training but these should be schedualed so as to be convenient to the reserve.  Most people just can't leave work to attend midday without making prior arrangements. Other than that I would suggest a full time supervisor assigned to manage the program and if you have seasoned and experienced reserves it couldn't hurt to give them rank in order to assist in administering the program.