The balance of unrestricted funds as of February 29, 2016 was $11,572,292 which includes a $2.5M cash reserve. Restricted funds include the Preservation and Improvement Fund (“PIF”) and the Capital Reserve Fund. As of February 29, 2016, PIF had a balance of $5,513,305 plus $539,100 collected in February that was transferred into the PIF account the first part of March 2016. The Capital Reserve Fund had a balance of $5,000,044 as of February month end.
The corporation has operated within its budget for the 2016 fiscal year.