by Carol Lawry
The balance of unrestricted funds as of April 30, 2017 was $13,020,657 which includes a $2.5M cash reserve. Restricted funds include the Preservation and Improvement Fund (“PIF”) and the Capital Reserve Fund. As of April 30, 2017, PIF had a balance of $11,290,736 plus $783,000 collected in April that was transferred into the PIF account the first part of May 2017. The Capital Reserve Fund had a balance of $5,069,832 as of month end.
The corporation operated within its budget for the 2017 fiscal year.