The balance of unrestricted funds as of August 31, 2012 was $10,437,064 which includes a $2.5M cash reserve. Restricted funds includes the Preservation and Improvement Fund (“PIF”) and the Capital Reserve Fund. As of August 31, 2012 PIF had a balance of $7,634,709 plus $453,000 collected in August that was transferred into the PIF account the first part of September 2012. The Capital Reserve Fund had a balance of $500,014 as of August month end.
The corporation has operated within its budget year-to-date.