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Reston board hears fiscal committee plan to smooth capital funding; members debate using unrealized gains
Summary
Fiscal committee chair outlined a three-part proposal — flat annual funding from a 10-year CIP, a target reserve range, and a monthly/quarterly reserve-management process — and asked the board for guidance; directors debated the treasurer’s role and whether to use unrealized gains to 'feather in' funding.
The Reston Association board devoted a lengthy session on March 26 to how the association should structure its capital reserves and long-term funding for repairs and replacements.
"We are spending a lot of time on this, on our capital funding resolution," said Dave Kerr, chair of the fiscal committee, presenting three pillars: a flat annual funding model tied to a 10‑year capital-improvement plan (CIP) with a review cycle, a target reserve range rather than a single minimum, and a standing process to manage the reserve balance throughout the year.
CFO Ed Vroom gave projections and context: "At 2025, we ended up with a capital…
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