The RCSC Treasurer reported the RCSC held just under $10,000,000 in unrestricted funds at the end of September and another $15,000,000 in restricted funds. PIF funds accounted for $14,000,000 of the total restricted funds with the other million listed as a capital reserve. What does the RCSC do with $25,000,000 in cash? The report indicated that about $16,000,000 of the total was deposited in a money market account(s) with an unstated yield. (Assume something significantly less than 1% in earnings.) Another $7,500,000 was reported to be invested in four fixed income funds with Franklin with investment goals of safety, liquidity,and yield in that order. The report also stated the broker placing the investments was closely monitoring the investments. We'll assume the investments satisfied the safety and liquidity requirements, but the yield goal continues to lag. The reported value of the $7,500,000 investment after six months was $7,453,247 for a loss of $46,753. You can form your own opinion regarding RCSC investments current and past and future. Hopefully the nine candidates for election to the RCSC Board will have opinions on corporate financial investment policy and will share them with us before election day. Maybe there will be large turnouts this year at the two candidate forums. The forums present an opportunity for our candidates to share their ideas and for us to ask questions. Asking the candidates their ideas/opinions for RCSC investments would be a fair question. Plan on attending one or both of the forums. Then get registered and vote! Every vote will count as only about 3-4 % of the cardholders have registered via the RCSC Portal to vote electronically as of the last report. That means your vote will really, really count.
Excellent comments Fairness and the good news is all of the information you posted is on line on the RCSC website. In my humble opinion it is essential to Sun City's future to grow the circle of those who take an interest in how the community is governed. While it sounds corny about two heads being better than one; how about 40,000 plus being better than nine? More to the point though is for the first time in a long time we have a real election. Sun City residents have a choice. I've been asked numerous times who I support and would vote for and my answer is always the same: Attend the candidates forums and find out for yourself. We have a host (8) qualified people and there is no better way than to attend one or both of the sessions and ask them questions relative to Sun City and its governance. The first one is November 11, which is next Monday evening. We will open the doors at 6:30 for a brief meet and greet with the program to begin at 7 pm. It will be at the Marinette Rec Center auditorium, so plan on attending.
Just an important correction Bill - the Monday, November 11th Candidate Forum is being held at Marinette Center. The following week there will be a Forum at Fairway.
The first one is November 11, which is next Monday evening. We will open the doors at 6:30 for a brief meet and greet with the program to begin at 7 pm. It will be in the Marinette Rec Center Auditorium , so plan on attending. Thanks to aggie for catching my goof. Duh on my part. I have corrected it just in case. The second candidate forum will be at the Fairway Rec Center on November 19th at 1:30 pm.
