Treasurer’s Report – June 2014
The balance of unrestricted funds as of May 31, 2014 was $11,431,690 which includes a $2.5M cash reserve. Restricted funds include the Preservation and Improvement Fund (“PIF”) and the Capital Reserve Fund. As of May 31, 2014, PIF had a balance of $11,702,409 plus $587,500 collected in May that was transferred into the PIF account the first part of June 2014. The Capital Reserve Fund had a balance of $1,500,044 as of May month end.
The corporation has operated within its budget for the 2014 fiscal year.