by Carol Lawry
The balance of unrestricted funds as of October 31, 2017 was $10,958,860 which includes a $2.5M cash reserve. Restricted funds include the Preservation and Improvement Fund (“PIF”) and the Capital Reserve Fund. As of October 31, 2017, PIF had a balance of $15,437,238 plus $672,500 collected in October that was transferred into the PIF account the first part of November 2017. The Capital Reserve Fund had a balance of $5,116,372 as of month end.
The corporation operated within its budget for the 2017 fiscal year.