The balance of unrestricted funds as of October 31, 2010 was $7,546,196 which includes a $2.5 million cash reserve. Restricted funds, otherwise known as the Preservation and Improvement Fund (“PIF”), had a balance of $3,908,408 at October month end plus $371,443 collected in October that was transferred into the PIF account the first part of November.Year to date, we have collected $775,443 more than budget in Preservation & Improvement Fees.
The corporation has operated within its budget year-to-date.