Outdoor Resort – Palm Springs Income Statement Comments August 31, 2020
Revenue: Administrative revenues came in over budget due to permit fees, laundry, other income and interest received from WC CD. Resort Services real estate % of rentals/sales was under budget as quarterly payments will be received at the end of September. Overall Resort Services was under budget by $4.1k.
Expense: Administrative came under budget by $8.2k due to board expense, computers, copier service, training and education all being under budget. Resort Services was slightly over budget due to advertising, credit card fees. Grounds and Greens were over budget due to Vintage landscape contract and repair and maintenance for R&M common area. Mailroom is significantly under budget due to only having one staff member scheduled each day rather than multiple which was done in the past. Security was slightly over budget, salary and wages were higher than anticipated due to fire on property. Facilities was over budget due to janitorial and pool supplies and having one additional housekeeper on staff that was not budgeted for. Maintenance and repair were over budget due to sanitizing ice makers, maintenance for all refrigeration, tennis court repair and street name signs. Vehicle maintenance was within budget for the month of August. When contacting Time Warner, we are consistently told we are up to date when in fact we are a month behind, which was found during the audit. I instructed Liz, to double payment to get us up to date. Electricity was significantly higher due to it being the hottest August recorded putting Utilities significantly over budget by $30.6k. Water was over budget by $6.5k, upon review transactional total for August 2019 $19,938.87 which is slightly higher than 2020 August transactional total.
Kristine Gonzalez Controller
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