OUTDOOR RESORTS/PALM SPRINGS OWNERS ASSOCIATION
STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND BALANCES FOR THE YEAR ENDED JUNE 30, 2019
Operating Fund
Replacement Fund
Capital Fund
Totals
REVENUES
Member assessments Interest income Front office revenue
$ 4,235,796 $1,295,484
$ 43,668
$5,574,948
7,133
51,979
19
59,131 346,265 46,987 56,446 10,491 1,645 101,735 123,185 83,706 25,856
346,265 46,987 56,446 10,491 101,735 123,185 83,706 25,856 1,645
Late fees and miscellaneous
Rental income
Golf
Convenience store
Laundry Activities
Bar
Other
5,039,245
1,347,463
43,687
6,430,395
EXPENSES
Administration
813,704 140,502 425,363 35,740 212,731 64,787 10,849
813,704 140,502 425,363 35,740 212,731 64,787 10,849
Front office expense
Security Mailroom Activities
Bar
Oracle expenses Convenience store
2,300
2,300
Restaurant
325
325
Golf
29,782 238,774 1,348,333 643,824 62,687 9,776 835,754
29,782 238,774 1,348,333 643,824
Facilities Grounds Vehicles Laundry Utilities
Maintenance
62,687 9,776 835,754 22,236 10,458
Realized losses on investments
22,236 10,458
Income taxes
1,014,159 1,046,853
188,924 188,924
1,203,083 6,111,008
Replacement fund expenditures
4,875,231
Excess (deficiency) of revenues over expenses before depreciation
164,014
300,610
(145,237)
319,387
51,269
51,269
Depreciation expense
Excess (deficiency) of revenues over expenses
$ 112,745
$ 300,610 $ (145,237)
$ 268,118
FUND BALANCES, beginning of the year
$1,495,100
$2,910,764 $ 23,234
$4,429,098
Excess (deficiency) of revenues over expenses
112,745
300,610
(145,237)
268,118
Inter-fund transfers
53,407
(53,407)
FUND BALANCES (DEFICIT), end of the year
$1,554,438 $3,264,781 $ (122,003) $4,697,216
The accompanying notes are an integral part of these financial statements. 5
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