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Jefferson Square posts turnaround; CDA reports roughly $4.44M in cash investments
Summary
Presenter told the CDA that Jefferson Square is in a positive financial position: cash investments rose to about $4.44 million from $3.5 million last year, short-term buyout reserve near $2.82 million, and year-to-date net earnings just under $49,000 through April versus a loss last year.
The CDA received a financial update on Jefferson Square showing improved performance year over year. The presenter reported total cash investments of approximately $4,440,000, up from about $3,500,000 the prior year, and a short-term buyout reserve of about $2,820,000, which increased by nearly $600,000 versus the previous year.
"Jefferson Square itself has generated approximately 48 just under $49,000 in current earnings through April, which if we looked at that, compared to last year at this time, last year at this time, there was a loss of just about $29,000," the presenter said, highlighting a notable swing to positive operating performance through April. The presenter also reported net capital assets around $3,210,000 and refurbishment-in-progress total near $224,000. Board members asked whether investment returns or interest income explained the improvement; the presenter pointed to increased interest income as a major factor.
