DESERT HORIZONS OWNERS ASSOCIATION STATEMENTS OF CASH FLOWS
YEAR ENDED SEPTEMBER 30, 2024 (Summarized Totals For The Year Ended September 30, 2023)
Operating Replacement Fund Fund
Totals
2024
2023
NET CASH FLOWS FROM OPERATING ACTIVITIES Excess of revenues over expenses Adjustments to reconcile net revenues over expenses to net cash flow from operating activities: Depreciation
$
713,928
$ 1,543,908
$ 2,257,836
$ 7,817,956
1,004,254
- -
1,004,254
1,665,955
Gain on sale of equipment
(13,744)
(13,744)
-
(Increase) Decrease in:
Assessments receivable
381,747
- - - - - -
381,747
(407,656) (49,995) (1,980,004) (110,057) (101,173)
Receivable from City of Indian Wells Special assessment receivable
(5,500)
(5,500)
1,980,004
1,980,004
Other receivables
48,543
48,543
Inventories
(75,749) (18,753)
(75,749) (18,753)
Prepaid expenses
9,009
Interfund receivable/payable
600,000
(600,000)
-
-
Increase (Decrease) in: Accounts payable Accrued expenses Prepaid assessments
(860,766) (3,308,763)
(5,601) (11,023)
(866,367) (3,319,786)
270,422
3,284,173 (105,324)
398,911 844,112
-
398,911
Net cash provided by operating activities
927,284
1,771,396 10,293,306
CASH FLOWS FROM INVESTING ACTIVITIES Purchase of property and equipment
(16,799,784)
- -
(16,799,784)
(17,600,381)
Proceeds from sale of equipment
13,744
13,744 909,837
-
Net (purchase)/sale of certificates of deposit
1,002,535 2,000,000
(92,698)
(527,095) (2,000,000) (20,127,476)
Net (purchase)/sale of investments Net cash used by investing activities
-
2,000,000
(13,783,505)
(92,698)
(13,876,203)
CASH FLOWS FROM FINANCING ACTIVITIES Payments on financing leases
(76,795)
- - -
(76,795)
(42,152)
Proceeds from notes payable Payments on notes payable
-
-
24,000,000
(766,424) 179,315 (663,904)
(766,424)
(45,509)
Interfund transfer
(179,315) (179,315)
-
-
Net cash used by financing activities
(843,219)
23,912,339
Net increase (decrease) in cash
(13,603,297)
655,271 (12,948,026)
14,078,169
CASH AND CASH EQUIVALENTS, beginning of the year
14,063,656
3,886,847 17,950,503
3,872,334
CASH AND CASH EQUIVALENTS, end of the year
$
460,359
$ 4,542,118
$ 5,002,477 17,950,503 $
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION Cash paid during the year for interest
$ 1,069,091
$
227,703
Cash paid during the year for income taxes
$
28,740
$
7,700
The accompanying notes are an integral part of these financial statements. 6
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