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Sun City West board approves changes to FI‑12 investment policy, allows up to 25% equities for long‑term reserves
Summary
The Recreation Centers of Sun City West Governing Board unanimously approved revisions to FI‑12, the association's investment policy, keeping near‑term funds in cash and allowing up to 25% in equities for reserves not needed for at least 10 years; CapTrust will continue as advisor and report compliance back to the board.
The Recreation Centers of Sun City West Governing Board on May 22 unanimously approved revisions to financial policy FI‑12 that formalize a multi‑tier investment approach and expand the target equity allocation for long‑term reserve funds to 25% from 10%.
The change, advanced by the Budget and Finance Committee working group and moved by Director Novello, was presented as a way to preserve short‑term capital while seeking modestly higher returns on funds that the association does not expect to use for at least a decade.
During debate, Director Novello summarized the proposal to the board: "FI 12 is the investment of, of our, funds, investment of association funds. It's our reserve funds." He said the working group recommended codifying current staff…
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