OUTDOOR RESORT PALM SPRINGS
CFO Report B RIAN C ANFIELD
C LINT A THERTON
The Staff survived another hot summer filled with projects. For those of you not keeping up on the Out and About emails, there have been numerous projects to update the Resort. You will notice one of the largest changes as you enter the Resort with the new pavers.
Year end 2014-2015, when normalized for the mid-year increase in assessments, was as expected. During July some members of the Finance Committee and I met with the External Auditor both before and after the Audit. We received a clean Audit
November 2015 Published monthly November - April by the Owners’ Association Board of Directors President Allen Gayken Vice President Ron Jackson Secretary Maryellen Muir CFO Brian Canfield Members Skip Pisor Barry Stilwell Ted Wilson General Manager Clint Atherton Oracle Staff Editor Emeritus Cathy Chauncey Editor Ellen Lynch Assistant Editors Eva Norcross Karen Peterson Sports Editor
The stamped concrete was torn out and re- placed. Not only do the pavers look much nic- er than the stamped concrete, but they also provide for a less bumpy ride when driving over in golf carts, cars and recreational vehicles. Another change is the lake area by tee #1. The lake liner was replaced and the old liner was found to be tattered and well worn. In addition, chemicals were found in the soil under the liner that prevented compaction. Therefore dirt was removed which prolonged the length of the project. As part of the project, the waterfall next to the tee box was relined and reshaped to allow more water movement and also have a more dramatic look. The last piece of the project was the bridge from #18 green towards the Starter Shack. The failing existing wood bridge was removed and replaced with a concrete bridge covered with stone. The new bridge will require virtually no maintenance other than cleaning it. The last major cosmetic repair was the renovation of the West ES bathrooms. The rubberized flooring was replaced with tile and the existing wall tile, countertops and fixtures were redone. It should add for a nice updated feel when events are held in the ES Ballroom. There were other maintenance items completed such as separating the water meters from the commercial buildings from the residential lots as required by CVWD, re-roofing on some of the satellites and roof repairs to the clubhouses, tree trimming, replacement of some of the failing lake fountains and many other smaller repairs. In other news in the Resort, I am happy to report that Papa Dan’s will be returning to LP as will Marge’s Espresso Bar by the ES Pool. Sadly, as mentioned in an Out and About ,F RANCO passed away over the summer. The Salon will be taken over by L UPE G UTIERREZ who was assisting Franco. W E hope you will support her.
although there were a few comments on areas we could consider reviewing relating to thresholds for Capital. The Finance Committee is going to review the Auditor’s comments and make recommendations. During July and August of 2014, the electricity use was over budget by $9,141. During July and August of 2015, the electricity use was under budget by $9,785. The only significant difference between the two years was the satellites were open during July/August 2014 and were closed during July/August 2015. Please note, there is no absolute method available to accurately measure the satellite electricity use since the satellites are not metered separately. There was an increase in the cost of the lake liner of approximately $50,000 that was unforeseen until work began. The GM took the situation to the Board and the increased costs were accepted, based on the presentation of facts by the GM. As a consequence, the Board postponed some painting at ES as well as postponed some remodeling of the salon, to assist in staying within the overall budget. Currently, with most of the work completed, the Reserve Spending appears to be on budget. The overall Financial Governance process that was initiated last Spring appears to be working well. There will be areas of refinement to be addressed this season however I believe we are on the right track to control expenses with the support of the Board and the very capable assistance of the GM and the Controller.
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