By Mike Bossio, Treasurer
Our Operating Fund through March is sitting at $206,327.94, up from $188,005.51 through February. The Reserve Fund is now up to $1,127,373.63, up from $1,110,275.08 in February. We deposited the planned RF monthly deposit of $17,046.17. It is still early in the year and things are still proceeding as planned.
As I indicated in the previous 2021 Budget Bits, I will calculate the Reserve Advisors “anticipated” Reserve Fund amount through the first quarter of this year using the Reserves Advisors’ “yearly anticipated” amounts of interest earned, recommended contributions and anticipated expenses, and then compare that number to our actual quarterly Reserve Fund Balance. I have done that through March of this year and the results are: Actual quarterly Reserve Fund amount is $1,127,373.73 (see above) and this compares to the projected quarterly Reserve Fund of $1,072,635 (calculated). As noted previously, this calculated amount is based on a linear extrapolation of the elements that make up the Anticipated Reserves, namely, Recommended Contribution, Earned Interest, and Anticipated Expenditures. As such, we are exceeding the RA Anticipated Reserves by about 5.0% YTD. I will continue to provide you with the quarterly estimate of the Reserve Fund and compare it to the Reserve Advisors anticipated quarterly amount.
This is a short report but things are going forward as planned. I will continue to keep you apprised of our performance on a monthly basis.
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