The balance of unrestricted funds as of May 31, 2016 was $11,631,629 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, 2016, PIF had a balance of $7,446,134 plus $829,700 collected in May that was transferred into the PIF account the first part of June 2016. 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 2016 fiscal year.