The balance of unrestricted funds as of May 31, 2010 was $10,410,098 which includes a $2.5 million cash reserve. Restricted funds, otherwise known as the Preservation and Improvement Fund (“PIF”), had a balance of $2,708,163 as May month end plus $552,300 collected in May that was transferred into the PIF account the first part of June.We have collected $427,200 more than budget in Preservation & Improvement Fees so far year-to-date.
The corporation has operated within its budget year-to-date.
