OUTDOOR RESORTS/PALM SPRINGS OWNERS ASSOCIATION
STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND BALANCES
FOR THE YEAR ENDED JUNE 30, 2019
Operating
Replacement
Capital
Fund
Fund
Fund
Totals
REVENUES
Member assessments
$4 ,235 ,796
$1 ,295 ,484 $ 43,668
$5 ,574,948 59,131 346,265
Interest income
51 ,979
7,133
19
Front office revenue
346 ,265 46 ,987 56,446 10,491
Late fees and miscellaneous
46,987 56,446 10,491 1,645 101 ,735 123,185
Rental income
Golf
Convenience store
1,645
Laundry Activities
101 ,735 123,185 83 ,706
Bar
83 ,706 25,856 6,430,395
Other
25 ,856 5,039,245
1,347 ,463
43,687
EXPENSES
Admin istration
813,704 140,502 425,363
813,704 140,502 425 ,363 35 ,740 212 ,731
Front office expense
Security Mailroom Activities
35,740
212,731
Bar
64,787 10,849 2,300 325 29,782 238 ,774 1,348 ,333 643 ,824 62 ,687 9,776 835 ,754
64 ,787 10,849
Oracle expenses Convenience store
2,300
Restaurant
325
Golf
29,782 238,774
Facilities Grounds
1,348,333
Maintenance
643,824 62 ,687
Vehicles Laundry Utilities
9,776
835,754
Realized losses on investments
22 ,236 10,458
22 ,236 10,458
Income taxes
Replacement fund expenditures
1,203,083 6,111,008
1,014 ,159
188,924
1,046,853
188,924
4,875,231
Excess (deficiency) of revenues over expenses before depreciation
164,014
300 ,610
(145,237)
319,387
Depreciation expense
51,269
51 ,269 $ 268,118
$ 112,745
$ 300 ,610
Excess (deficiency) of revenues over expenses
$ p45,237)
FUND BALANCES, beginning of the year
$1 ,495 ,100 $2 ,910 ,764
$ 23,234
$4,429,098
Excess (deficiency) of revenues over expenses
(145,237)
268,118
112,745
300 ,610
53,407
Inter-fund transfers
(53,407)
$1 ,554 ,438
$3,264,781
$ (122 ,003)
$4,697,216
FUND BALANCES (DEFICIT) , end of the year
The accompanying notes are an integral part of these financial statements. 5
Made with FlippingBook HTML5