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Board discusses investment policy, WSSI agreement; defers immediate changes to fiscal committee
Summary
Board members reviewed Reston Association investment holdings and an agreement (WSSI) that requires a stream-cap fund be invested 80% equities/20% fixed income; staff recommended further study and fiscal committee review rather than immediate reallocation.
Reston Association finance staff reported to the board on June 26 that the association's investment accounts are performing above recent budgets and that a requirement in the WSSI agreement constrains how the stream/wetlands catastrophe fund ("cap fund") is allocated.
Finance staff said RA holds roughly $4.3 million in its Bridal RF account (managed by "Rafa") and almost $1.5 million in the stream/wetlands cap…
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