By Mike Kennedy
The balance of unrestricted funds as of February 28, 2015 was $12,845,462 which includes a $2.5M cash reserve. Restricted funds include the Preservation and Improvement Fund (“PIF”) and the Capital Reserve Fund. As of February 28, 2015, PIF had a balance of $5,034,024 plus $462,000 collected in February that was transferred into the PIF account the first part of March 2015. The Capital Reserve Fund had a balance of $2,000,044 as of February month end.
The corporation has operated within its budget for the 2015 fiscal year.