The balance of unrestricted funds as of May 31, 2015 was $11,024,377 which includes a $2.5M cash reserve. Restricted funds include the Preservation and Improvement Fund (“PIF”) and the Capital Reserve Fund. As of May 31, 2015, PIF had a balance of $3,277,686 plus $527,748 collected in May that was transferred into the PIF account the first part of June 2015. The Capital Reserve Fund had a balance of $5,000,044 as of May month end.
The corporation has operated within its budget for the 2015 fiscal year.