The balance of unrestricted funds as of July 31, 2012 was $9,231,442 which includes a $2.5M cash reserve. Restricted funds includes the Preservation and Improvement Fund (“PIF”) and the Capital Reserve Fund. As of July 31, 2012 PIF had a balance of $9,129,954 plus $450,000 collected in July that was transferred into the PIF account the first part of August 2012. The Capital Reserve Fund had a balance of $500,012 as of July month end.
The corporation has operated within its budget year-to-date.
Investment Report 2nd Quarter 2012:
At the end of the second quarter, the UBS unrestricted money market account had an ending balance of $8,312,233.20. This account has earned a total of $369.07 in interest year-to-date.
The restricted UBS money market account for the Preservation and Improvement Fund had an ending balance of $8,583,613.20, with a total of $720.14 interest earned year-to-date.
The restricted UBS money market account for the Capital Reserve Fund had a balance of $500,007.48, with a total of $7.48 interest earned year-to-date.