by Michael Kennedy
The balance of unrestricted funds as of April 30, 2016 was $12,497,230 which includes a $2.5M cash reserve. Restricted funds include the Preservation and Improvement Fund (“PIF”) and the Capital Reserve Fund. As of April 30, 2016, PIF had a balance of $6,738,901 plus $879,800 collected in April that was transferred into the PIF account the first part of May 2016. The Capital Reserve Fund had a balance of $5,000,044 as of April month end.
The corporation has operated within its budget for the 2016 fiscal year.
