Table 8
PROJECTED VALUE OF OPERATING RESERVE AT YEAR-END
|
|
1998-99 Budget Forecast (@ Feb 28, 1999) |
1999-2000 Budget |
|
Beginning Operating Reserve Balance |
4,297,279 |
1,421,902 |
|
Surplus / (Deficit) -- from Table 7 |
-2,875,377 |
1,053,377 |
|
Closing Operating Reserve |
1,421,902 |
2,475,279 |
|
|
|
|
|
Operating Reserve Target |
2,500,000 |
2,500,000 |