OUTDOOR RESORTS/PALM SPRINGS OWNERS ASSOCIATION
STATEMENTS OF CASH FLOWS
FOR THE YEARS ENDED JUNE 30, 2020 AND 2019
Operating
Replacement
TOTALS
Capital Fund
Fund
Fund
2020
2019
NET CASH FLOW FROM OPERATING ACTIVITIES Excess (deficiency) of revenues over expenses
$ (230 ,141 ) $ 558,943
$ 42,675
$ 371,477 $ 268,118
Adjustments to reconcile net revenues over expenses to net cash flow from operating act ivities : Depreciation
59 ,342
59,342
51 ,269
(Increase) Decrease in:
Assessments receivable
(10,498) (4 ,296)
(10,498) (4,296)
277
Inventories
1,622
Prepaid expenses
14,592
2,220
16,812
254,870
Inter-fund receivable/payable
(59 ,087)
14,335
44,752
Other assets Increase (Decrease) in : Accounts payable and accrued expenses
19,888
4,594
24,482
(53,223) (3,879)
Prepaid assessments
(10,450)
(10,450)
Accrued wages and salaries payable
19,345
11 ,943
19,345
7,537
Deposits and other liabili ties
7,537
(13,157)
Net cash provided by operating activities
(193 ,768)
580,092
87,427
473,751
517,840
CASH FLOWS FROM INVESTING ACTIVITIES (Purchase) sale of certificates of deposit Sale of invesments (Purchase) sale of property and equ ipment
(568 ,625)
(568,625) (1 ,759,926) 2,000,799 (169,237}
(169 ,237)
240,873
Net cash provided (used) by investing activities
(568,625)
(737,862}
(169,237}
CASH FLOWS FROM FINANCING ACTIVITIES Payments on capital lease payable Inter-fund transfers
(2,359)
5,237
(5,237)
Net cash provided (used) by financing activities
5,237
(5,237)
(2 ,359}
Net increase (decrease) in cash
(264,111)
756,354
(357,768)
6,230
87,427
1,914,241
CASH, beginning of the year
497,292
1,360,042
56,907
1,157,887
CASH, end of the year
$ 139,524 $1 ,366,272
$ 144,334
$1 ,650,130 $1,914,241
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION Cash paid during the year for : Income taxes
$
4,235
11 ,388 $
- $
$
80
Interest
The accompanying notes are an integral part of these financial statements. 6
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