The balance of unrestricted funds as of May 31, 2012 was $10,590,942 which includes a $2.5M cash reserve. Restricted funds includes the Preservation and Improvement Fund (“PIF”) and the Capital Reserve Fund. As of May 31, 2012 PIF had a balance of $7,852,411 plus $683,400 collected in May that was transferred into the PIF account the first part of June 2012. The Capital Reserve Fund had a balance of $500,003 as of May month end.
The corporation has operated within its budget year-to-date.