Treasurer’s Report – June 2024

The balance of unrestricted funds as of May 31, 2024, was $18.6 million 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, PIF had a balance of $34.5 million, and the Capital Reserve Fund had a balance of $5.7 million. Capital Improvement Funds (“CIF”) received to date totaled $674k.

The Carryforward balance as of May 31, 2024, was $6.9 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.