OUTDOOR RESORT - PALM SPRINGS OWNER’S ASSOCIATION BOARD OF DIRECTORS STAFF REPORT
Board Meeting Date:
March 15, 2021
New
Unfinished X
Discussion
Consent Agenda
Exec
Agenda Item:
2021-22 Budget
Description:
Approval of Budget and Setting of Agenda
Submitted By:
Ed Vitrano, General Manager
Date: March 10, 2021
Background: You will notice by the minutes of the joint meeting of the Finance Committee and Board, which was an open meeting, the Preliminary Budget was thoroughly reviewed. The Finance Committee had several meetings prior to the joint meeting to discuss and deliberate Revenues and Expenses. It is worthwhile to note that three years ago, the Finance Committee at the time forecast that increases of $11/$12/$13 increases would be needed, primarily due to minimum wage increases, with the last increase for the next fiscal year beginning July 1. They need to be congratulated for the foresight. Motion(s) for Consideration: To approve the 2021-22 Budget and set the assessment at $419/month. Designated Funding: N/A
Board Action:
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