The balance of unrestricted funds as of May 31, 2013 was $12,343,778 which includes a $2.5M cash reserve. Restricted funds include the Preservation and Improvement Fund (“PIF”) and the Capital Reserve Fund. As of May 31, 2013, PIF had a balance of $11,962,536 plus $704,572 collected in May that was transferred into the PIF account the first part of June 2013. The Capital Reserve Fund had a balance of $1,000,044 as of May month end.
The corporation has operated within its budget for the 2013 fiscal year.
