DESERT HORIZONS OWNERS ASSOCIATION STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN FUND BALANCES
(Summarized Totals For The Year Ended September 30, 2023) YEAR ENDED SEPTEMBER 30, 2024
Operating Replacement Fund Fund
Totals
2024
2023
OPERATING REVENUES Residential assessments Social membership dues
$ 5,105,280 2,288,336 4,008,953 1,456,087
$ 1,836,000
$ 6,941,280 2,288,336 4,008,953 1,456,087
$ 6,022,656 1,980,018 3,876,448
- - - - - - - -
Golf income
Food and Beverage income Fitness and spa income
774,305
100,480 527,046 87,171 1,490 13,744 154,632
100,480 527,046 87,171 146,831 13,744 154,632
-
LLMD income Sales office rent Interest income
551,312 69,812 26,411
145,341
Gain on disposal of assets Miscellaneous income
-
115,101
13,743,219
1,981,341 15,724,560
13,416,063
OPERATING EXPENSES Golf
4,099,727 2,498,883 958,604 6,355,992 501,091 78,857
- - - - - -
4,099,727 2,498,883 958,604 6,355,992 501,091 78,857 1,374,483
3,969,632 1,540,330 647,376 6,002,209
Food and beverage Clubhouse expenses Community expenses Fitness and spa expenses Income tax expense Replacement fund expenditures
-
18,203 530,199
1,374,483
-
14,493,154
1,374,483 15,867,637
12,707,949
Excess (deficiency) of operating expenses over revenues
(749,935)
606,858
(143,077)
708,114
NON-OPERATING INCOME / (EXPENSES) Capital assessments
1,903,267 612,000 325,425
- - -
1,903,267 612,000 325,425 510,000 427,050 145,145 (517,720) (1,004,254) - 2,400,913 $ 2,257,836
1,872,750 6,181,400
Special assessments Additional golf dues
-
Social initiation assessment Golf initiation assessment Golf course capital expenses
- - -
510,000 427,050
405,000 385,400 (68,753)
- - - -
Interest income Interest expense
145,145 (517,720) (1,004,254) 1,463,863
- -
Depreciation expense
(1,665,955) 7,109,842
937,050
Excess of revenues over expenses
$
713,928
$ 1,543,908
$ 7,817,956
FUND BALANCES, beginning of the year
$ 15,428,590
$ 6,139,538 21,568,128 $
$ 13,750,172
Excess of revenues over expenses
713,928 179,315
1,543,908
2,257,836
7,817,956
Interfund transfers
(179,315)
-
-
FUND BALANCES, end of the year
$ 16,321,833
$ 7,504,131 23,825,964 $
$ 21,568,128
The accompanying notes are an integral part of these financial statements.
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