The balance of unrestricted funds as of February 28, 2013 was $11,325,605 which includes a $2.5M cash reserve. Restricted funds includes the Preservation and Improvement Fund (“PIF”) and the Capital Reserve Fund. As of February 28, 2013 PIF had a balance of $10,131,410 plus $546,000 collected in February that was transferred into the PIF account the first part of March 2013. The Capital Reserve Fund had a balance of $1,000,041 as of February month end.
The corporation has operated within its budget for the 2013 fiscal year.