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Treasurer outlines RCSC fund balances, board asks for simpler member-facing summary
Summary
Treasurer Anita Boroski reported RCSC balances and 2024 investment income; board members asked staff to provide a clearer, layperson summary of the Treasurer's Report and asked for clarifications about how much of the Preservation and Improvement Fund was invested in fixed-income instruments at year-end.
Anita Boroski, RCSC treasurer, presented the board with the Treasurer's Report dated Jan. 30, 2025, summarizing year-end fund balances and investment results.
Boroski reported the corporation's unrestricted funds balance as of Dec. 31, 2024, was $13,800,000, which includes a $2,500,000 cash reserve. The Preservation and Improvement Fund (PIF) held $37,800,000 and the Capital Reserve Fund had $5,900,000. SIF funds collected to date in 2024 were $1,400,000. The corporation generated a year-to-date net operating deficit of $9,400 for 2024, which the treasurer described as $15.75 below budget year-to-date. That…
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