The balance of unrestricted funds as of September 30, 2010 was $7,451,416 which includes a $2.5 million cash reserve. Restricted funds, otherwise known as the Preservation and Improvement Fund (“PIF”), had a balance of $3,856,268 at September month end plus $305,100 collected in September that was transferred into the PIF account the first part of October.
Year to date, we have collected $680,000 more than budget in Preservation & Improvement Fees.
The corporation has operated within its budget year-to-date.