The balance of unrestricted funds as of March 31, 2015 was $12,953,399 which includes a $2.5M cash reserve. Restricted funds include the Preservation and Improvement Fund (“PIF”) and the Capital Reserve Fund. As of March 31, 2015, PIF had a balance of $4,640,900 plus $699,100 collected in March that was transferred into the PIF account the first part of April 2015. The Capital Reserve Fund had a balance of $2,000,044 as of March month end.
The corporation has operated within its budget for the 2015 fiscal year.
Investment Report 1st Quarter 2015:
RCSC’s Investment Policy (Board Policy 33) is stringent in its requirements with the priority of investment objectives to be placed in this order: 1) safety, 2) liquidity, and 3) yield.
At the end of the first quarter 2015, the Franklin Templeton unrestricted money market fund had an ending balance of $7,531,629.37 and the restricted Franklin Templeton money market fund had an ending balance of $6,640,943.97.