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Treasurer reports reserves, notes May operating deficit and SIF receipts from property sale
Summary
Treasurer Anita Borsky reported May financials showing unrestricted operating balance, PIF and capital reserve balances, a monthly operating deficit, and year-to-date figures; staff explained variances as timing and inflows from a property sale.
Treasurer Anita Borsky presented the June 26 Treasurer’s Report covering balances as of May 31 and year‑to‑date results. She said the association’s unrestricted funds balance was $11.6 million as of May 31, which included a $2.3 million cash reserve. The Preservation and Improvement Fund (PIF) had a reported balance of $41.5 million and the Capital Reserve a balance of $11.9 million.
The report showed RCFC’s net…
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