OUTDOOR RESORTS/PALM SPRINGS OWNERS ASSOCIATION
BALANCE SHEETS
JUNE 30, 2020 AND 2019
ASSETS
Operating Replacement
Capital Fund
TOTALS
Fund
Fund
2020
2019
ASSETS Cash
1,366,272 $ 144,334
$1,914,241 2,861,552
$ 139,524
$1,650,130 3,430,177
2,491,041
Certificates of deposit
939,136
Assessments receivable, less allowance of $0 in 2020 and 2019 for uncollectible accounts
17,866 7,596 4,156 252,416
17,866 7,596 4,156
7,368 3,300 20,968
Inventories
Prepaid expenses
(28,754)
lntercompany receivable(payable)
(223,662)
Other assets
6,667
6,667
6,667
Property and equipment, net of accumulated depreciation of $1,562,868 in 2020 and $1,525,598 in 2019
347,235
347,235
237,340
$1,714,596 $3,828,559 $ {79,328} $ 5,463,827 $ 5,051,436
LIABILITIES AND FUND BALANCES
LIABILITIES Accounts payable and accrued expenses
- $
$
62,734 200,631 77,226 44,471
$
10,072 $
$ 48,324
72,806 200,631 77,226 44,471
Prepaid assessments
211,081 57,881 36,934
Accrued wages and salaries payable
Deposits and other liabilities
385,062
10,072
395,134
354,220
FUND BALANCES Operating fund Replacement fund Capital fund
982,299 347,235
982,299 347,235 3,818,487
1,317,098 237,340 3,264,781 {122,003} 4,697,216
Property and equipment fund
3,818,487
{79,328} (79,328}
{79,328}
1,329,534
3,818,487
5,068,693
$1,714,596 $3,828,559 $ {79,328} $ 5,463,827
$ 5,051,436
The accompanying notes are an integral part of these financial statements.
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