OUTDOOR RESORTS/PALM SPRINGS OWNERS ASSOCIATION
BALANCE SHEETS
JUNE 30, 2020 AND 2019
ASSETS
Operating
Replacement
Capital
TOTALS
Fund
Fund
Fund
2020
2019
ASSETS Cash
$ 139,524
1,366 ,272 2,491 ,041
$ 144,334 $ 1,650 ,130 $ 1,914 ,241 3,430,177 2,861,552
Certificates of deposit
939 ,136
Assessments receivable, less allowance of $0 in 2020 and 2019 for uncollectible accounts
17,866
17,866 7,596 4,156
7,368 3,300
Inventories
7,596 4,156
Prepaid expenses
20 ,968
Intercompany receivable(payable)
252,416
(28 ,754)
(223 ,662)
Other assets
6,667
6,667
6,667
Property and equipment , net of accumu lated depreciation of $1 ,562 ,868 in 2020 and $1 ,525 ,598 in 2019
347 ,235
347,235
237 ,340
$1 ,714 ,596 $ 3,828 ,559
$ (79,328) $ 5,463 ,827
$ 5,051,436
LIABILITIES AND FUND BALANCES
LIABILITIES Accounts payable and accrued expenses
$
$
62,734 $
10,072
$
$
72 ,806
48 ,324
200,631
Prepaid assessments
200 ,631 77 ,226 44,471
211 ,081
Accrued wages and salaries payable
77 ,226 44,471
57,881 36 ,934
Deposits and other liabilities
385 ,062
10,072
395 ,134
354 ,220
FUND BALANCES Operating fund
982,299 347,235
1,317,098
982,299 347 ,235
237,340
Property and equipment fund
3,818 ,487
3,264,781
3, 818,487
Replacement fund
Capital fund
(79 ,328) (79 ,328 }
(79,328)
(122,003}
4,697 ,216
1,329 ,534
3,818,487
5,068,693
$ 1,714,596 $ 3,828 ,559
$ (79 ,328 ) $ 5,463,827
$ 5,051,436
The accompanying notes are an integral part of these financial statements. 3
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