Oracle FEBRUARY 2018

OUTDOOR RESORT PALM SPRINGS

Message from the Board

Last month, I wrote about how we are busily planning for our upcoming fiscal year. This process is still in effect. I referenced that per California Civil Code that we need to have

FEBRUARY 2018

Board of Directors President B RIAN C ANFIELD Vice President M ARYELLEN M UIR Secretary D EDE L OOP CFO C RAIG W IRCH Members

an onsite reserve inspection every 3 years. Early in January I met with the Reserve Analyst and we went line item by line item through the reserve study (1000 + items) and re-examined the balance of their useful life and cost while also wal king the property and physically looking at these items. This should give us a very good picture of the status of the items contained within the reserve study. As for the operating budget, the first draft will be reviewed by the Finance Committee at their February 7 meeting. The Board and Finance Committee will then have a joint meeting on February 21 to review the budgets for operations, reserves and capital. The Finance Committee will then have a final review of the operating budget at their February 28 meeting. Lastly, the budgets for operations, reserves and capital will be reviewed by the Board at the March 5 Board meeting for approval and adoption. It is a fast and furious schedule but it allows for close examination of the budget before it is finally approved. Also last month I wrote that the Strategic Planning Committee (SPC) was working on a survey, with input from Facilities Planning. The purpose of this survey was to solicit opinions on some of the ORPS facilities, primarily that of Tennis, Pickleball and the large pool areas outside of La Palma and El Saguaro. After much discussion, the Board felt that survey had too much of a focus on short term items and that they had a detailed and comprehensive report from the Facility Planning Committee on these areas as well as information from the first survey. As a result, it was decided that the survey not be sent out, but that the SPC should continue to focus on longer term projects and issues facing the resort. The SPC has since met and are focusing on these items. It may lead to another survey at the end of the season and more information will be written about a potential survey as it is developed.

We are into the middle of our season here at ORPS with many accomplishments behind us and more to work on in the future: a couple being the annexation of property owned by the Coachella Valley Water District adjacent to the main laundry room and maintenance yard and, as always, a better dog run. You have met the five Board candidates. The ballots will be going out February 5 and must be returned March 10 no later than 10:30AM at La Palma. C RAIG W IRCH , CFO, reports that we have only preliminary financials as of December 31, 2017 to report. We do continue the monthly trend of revenues in excess of expenses by $95,540 during the first 6 month of the current fiscal year. We normally budget a deficit during this period of time ($132,077) and balance out during the next six months when revenues Increase during the prime season. This means we are currently ahead of our budget forecasts by just over $227,000 for the current fiscal year. Be sure to attend the upcoming Board/ Finance committee meeting scheduled for February 21 where the budget for the next fiscal year will be discussed. The budget has a direct effect on the HOA dues you pay each month and this a great time to see the process at work. We are currently reviewing some of the financial practices and policies and look forward to finalizing some financial engineering moving forward at our February 12 meeting. We want to welcome all new owners and urge them to attend Board and Committee meetings. DEDE LOOP …. Board Secretary 2017-2018 BOARD OF DIRECTORS B OB M OORE , J IM W ALLER , V ICE P RESIDENT M ARYELLEN M UIR , T ED W ILSON , S ECRETARY D ED E L OOP , CFO C RAIG W IRCH , P RESIDENT B RIAN C ANFIELD .

B OB M OORE J IM W ALLER T ED W ILSON

General Manager C LINT A THERTON

Oracle Staff Editor Emeritae E LLEN L YNCH C ATHY C HAUNCEY

Editor E VA N ORCROSS

Production Staff E VELYN E LIAS L OUISE K NOBF S USAN M ATTHEW J OANNE N YQUIST M ARY A NN P RIDDY M ARGIE S LEIGHT L UANN W ARD

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