OUTDOOR RESORTS/PALM SPRINGS OWNERS ASSOCIATION STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND BALANCES FOR THE YEAR ENDED JUNE 30, 2020
Operating Fund
Replacement Fund
Capital Fund
Totals
REVENUES
$4,352,244
$1,295,484
Member assessments Interest income Front office revenue
$ 87,336
$5,735,064
8,636
67,308
92
76,036 305,660 35,779 67,508 17,105 1,251 94,409 110,445 52,631 19,841
305,660 35,779 67,508 17,105 1,251 94,409 110,445 52,631 19,841
Late fees and miscellaneous
Rental income
Golf
Convenience store
Laundry Activities
Bar
Other
87,428
5,065,509
1,362,792
6,515,729
EXPENSES
Administration
981,828 139,473 455,014 38,634 199,415 72,455 80,507 250,663
981,828 139,473 455,014 38,634 199,415 72,455 80,507 250,663
Front office expense
Security Mailroom Activities
Bar Golf
Facilities Grounds Vehicles Laundry Utilities
1,399,468 669,544 70,164 7,100 872,043 20,572 828,030 6,084,910
1,399,468 669,544
Maintenance
70,164 7,100 872,043
20,572 783,277 803,849
Income taxes
44,753 44,753
Replacement fund expenditures
5,236,308
Excess (deficiency) of revenues over expenses before depreciation
558,943
42,675
430,819
(170,799)
59,342
59,342
Depreciation expense
$ 371,477
42,675
Excess (deficiency) of revenues over expenses
$ (230,141} $ 558,943
$
$1,554,438
$3,264,781
FUND BALANCES (DEFICIT), beginning of the year
$ (122,003)
$4,697,216
(230,141)
Excess (deficiency) of revenues over expenses
558,943
42,675
371,477
Inter-fund transfers
5,237
{5,237}
$1,329,534
$3,818,487
FUND BALANCES (DEFICIT), end of the year
$ {79,328} $5,068,693
The accompanying notes are an integral part of these financial statements. 4
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