The balance of unrestricted funds as of January 31, 2024, was $19.0 million which includes a $2.5M cash reserve. Restricted funds include the Preservation and Improvement Fund (“PIF”) and the Capital Reserve Fund. As of January 31, 2024, PIF had a balance of $33.5 million, and the Capital Reserve Fund had a balance of $5.6 million.
The Carryforward balance as of January 31st was $5.5 million. This balance decreased from the 2023 year-end balance of $10.4 million due to the allocation of $6.5 million in Carryforward funds towards the 2024 budgeted Capital Projects.
The corporation operated within its budget year to date in 2024.