The balance of unrestricted funds as of December 31, 2012 was $10,444,640 which includes a $2.5M cash reserve. Restricted funds includes the Preservation and Improvement Fund (“PIF”) and the Capital Reserve Fund. As of December 31, 2012 PIF had a balance of $9,603,249 plus $533,000 collected in December that was transferred into the PIF account the first part of January 2013. The Capital Reserve Fund had a balance of $500,033 as of December month end.
The corporation has operated within its budget for the 2012 fiscal year.