OUTDOOR RESORTS/PALM SPRINGS OWNERS ASSOCIATION
STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND BALANCES
FOR THE YEAR ENDED JUNE 30, 2020
Operating
Capital Fund
Replacement
Fund
Fund
Totals
REVENUES
Member assessments
$4,352 ,244
$1 ,295 ,484
$ 5,735,064 76,036 305,660
$ 87 ,336 92
Interest income
8,636
67 ,308
Front office revenue
305 ,660 35 ,779 67 ,508 17,105
Late fees and misce ll aneous
35,779 67,508 17,105 1,251 94,409 110,445
Rental income
Golf
Convenience store
1,251
Laundry Activities
94,409 110,445
Bar
52 ,631
52,631 19,841 6,515,729
Other
19,841 5,065,509
1,362 ,792
87,428
EXPENSES
Administration
981 ,828 139,473 455 ,014 38 ,634 199,415 72 ,455 80,507 250 ,663
981 ,828 139,473 455 ,014 38 ,634 199,415
Front office expense
Security Mailroom Activities
Bar
72,455 80 ,507 250,663 1,399,468 669,544 70 ,164 7,100 872,043 20,572 828,030 6,084,910
Golf
Facilities Grounds
1,399 ,468
Maintenance
669 ,544
Vehicles Laundry Utilities
70,164
7,100
872 ,043
Income taxes
20,572 783 ,277
Replacement fund expenditures
44,753 44 ,753
5,236,308
803 ,849
Excess (deficiency) of revenues over expenses before depreciation
42 ,675
(170,799)
558 ,943
430,819
59 ,342
Depreciation expense
59 ,342 $ 371,477
Excess (deficiency) of revenues over expenses
$ 42 ,675
$ (230,141) $ 558 ,943
FUND BALANCES (DEFICIT) , beginning of the year
$ 4,697,216
$ (122,003)
$1 ,554,438
$ 3,264,781
Excess (deficiency) of revenues over expenses
42 ,675
(230,141)
558 ,943
371,477
Inter-fund transfers
5,237
(5 ,237~
FUND BALANCES (DEFICIT) , end of the year
$1 ,329,534
$ 3,818,487
$5,068,693
$ (79,328)
The accompanying notes are an integral part of these financial statements. 4
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