by Carol Lawry
The balance of unrestricted funds as of May 31, 2017 was $13,205,425 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, 2017, PIF had a balance of $11,746,353 plus $902,500 collected in May that was transferred into the PIF account the first part of June 2017. The Capital Reserve Fund had a balance of $5,081,723 as of month end.
The corporation has operated within its budget for the 2017 fiscal year.