OUTDOOR RESORT - PALM SPRINGS OWNER’S ASSOCIATION BOARD OF DIRECTORS STAFF REPORT
Board Meeting Date:
March 15, 2021
New
Unfinished
Discussion
Consent Agenda
X
Exec
Agenda Item:
Consent Agenda
Description:
Items for Approval which are Non-controversial and Unanimous in Nature Board Members May ask for Removal of an item to Business
Submitted By:
Ed Vitrano, General Manager
Date: March 10, 2021
Background: A. Minutes 1. Board Meeting – February 15, 2021
2. Joint Board/Finance Meeting – March 4, 2021 B. 2021 Committee Appointments – See Attached 1. Golf 2. Safety & Security 3. Pickleball C. Signature Stamps Finance Committee recommends that signature stamps be created and used by designated Board members for signing certain checks when not available in person D. Funds Transfer The Finance Committee has long recommended the final separation of Working Capital to the Capital Fund. With leaving $250,000 in the Operating Fund, per the Administrative Policies and Procedures (AP&P), a very conservative number of $500,000 needs to be transferred as authorized by the Board. Per the AP&P, end of year transfers of any surplus in Operating will take place. E. Liens As required by Civil Code, any lien placed on a property must be acted on in Open Session. Such is the case on APN: 673-103-090 Motion(s) for Consideration: To approve the Consent Agenda as presented. OR To approve the Consent Agenda as amended. Designated Funding: N/A
Board Action:
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