During discussion at the finance commission meeting in April it was decided all our funds should be in government backed investments to assure no loss of capital to our property owners. This was conveyed to the board as a whole during the April meeting.
All non-government backed investments have now been liquidated and reinvested for safety of principal. There were gains made in the non-protected investment portfolio but this is just too risky knowing market volatility and our assumption that interest rates have nowhere to go but up, even though it may be some months before that takes place. Rising interest rates would have meant deteriorating asset values in some of the investments.
Ken Dillenburg