Reston Association Carves Out $430,000 for Over-Budget Lake House

The Reston Association's Board of Directors is moving to restore $430,000 to its operating fund after finding out that renovations of the Lake House it purchased last year would end up over budget.

The issue came up at a May 26 meeting when Cate Fulkerson, CEO of the association, said she would try to deal with the overages by finding "favorable, permanent operational expense and revenue variances in the 2016 budget," according to a statement from the Reston Association.

To do this, the association will consider simply not filling some seasonal and full-time jobs, mostly related to accounting and land use, and Fulkerson has proposed to have her bonus and salary adjustment withheld for this year.

Fulkerson will present her first monthly financial report on the Lake House budget at a meeting on June 23.

The Reston Association decided to buy the Lake House property on Lake Newport in 2015, paying $2.6 million for the property with the intention of using it for "various member programs and to increase revenue through renting it out for weddings, corporate meetings and other private functions."

Image via Reston Association