The balance of unrestricted funds as of August 31, 2016 was $10,190,207 which includes a $2.5M cash reserve. Restricted funds include the Preservation and Improvement Fund (“PIF”) and the Capital Reserve Fund. As of August 31, 2016, PIF had a balance of $7,801,651 plus $626,500 collected in August that was transferred into the PIF account the first part of September 2016. The Capital Reserve Fund had a balance of $5,000,044 as of month end.
The corporation has operated within its budget for the 2016 fiscal year.