Treasurer Anita Borsky presented the board with April financial results showing an operating excess for the month and favorable year-to-date operating excess despite revenue shortfalls in some areas.

"The balance of unrestricted funds as of April 30 was 14,300,000.0, which includes a $2,500,000 cash reserve," Borsky reported. She said the Preservation (PIF) fund balance was $40,900,000 and the capital reserve (including SIF fees) was $11,500,000. For April, the report showed a net operating excess of $534,896, which the treasurer said was better than budget by $9,006.

Board members asked for clarifications. The finance director explained that April's gross income was $184,768 below budget but that savings in wages and benefits and in repairs and maintenance offset much of that shortfall. Year-to-date income was $593,739 under budget; the treasurer attributed most of that variance to golf income, which trailed budget by $501,141 year to date. Those revenue shortfalls were largely offset by $443,618 savings in wages and benefits and other expense savings.

Director Case asked about a roughly $4 million difference in "cash in the bank" compared with the prior year; staff said these funds had been reclassified into the capital reserve under BP 16 and therefore were not missing but moved into restricted accounts. Following questions, the treasurer's report was filed for audit.

Ending: Board members requested more granular monthly incident and PIF reporting in future management reports and asked that cardholder services report include Foundation payment counts and totals each month.