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RCSC treasurer reports positive year‑to‑date operating variance, posts fund balances
Summary
Treasurer Anita Boroski reported RCSC’s funds and reserves, with unrestricted balance of $12.9 million and PIF balance of $38.7 million as of Feb. 28; year‑to‑date net operating excess was reported at about $1.656 million, favorable to budget by $546,000.
Treasurer Anita Boroski presented the March financial report showing notable fund balances and a favorable year‑to‑date operating variance.
Boroski reported that as of Feb. 28 unrestricted funds totaled $12.9 million, which includes a $2.5 million cash reserve. Restricted funds include the Preservation Improvement Fund (PIF) at $38.7 million and a Capital Reserve Fund (including SIF fees) at $10.7 million. For February net operating excess was $820,405; the treasurer said February was below budget on gross income but the negative variance was largely offset by wage and operating expense savings. Year‑to‑date net operating excess was reported as $1,656,000, exceeding budget by $546,000, driven by wage and benefits savings and lower general operating expenses.
The treasurer’s report was filed for audit after directors had an opportunity to ask questions. No changes were recorded in the meeting minutes on the report.
