January 18, 2021 Directors Report.

Directors Report

Board Meeting

January 18 , 202 1

January 18 , 202 1 Presidents Report

A. Opening Remarks B. Approval of Agenda C. Executive Session Actions

MEETING OF THE BOARD OF DIRECTORS MONDAY, JANUARY 18, 2021 VIRTUAL (Webinar/Phone) AGENDA EXECUTIVE SESSION – 10 A.M. PT Video Conference

CALL TO ORDER A. Minutes Approval B. Legal C. Contracts D. Personnel E. Member Discipline

REGULAR MEETING – 1 P.M. PT The meeting will be held via Zoom. https://us02web.zoom.us/j/86484711135 Member Input on Business Items will be accepted after Item Presentation (limited to 2 minutes per speaker). Responses from the Board are at its discretion. I. CALL TO ORDER II. PRESIDENT’S REPORT A. Opening Remarks B. Approval of Agenda C. Executive Session Actions – President and/or General Manager III. TREASURER’S REPORT & RATIFICATION A. Financial Statement – December 31, 2020 IV. SECRETARY’S REPORT V. GENERAL MANAGER’S REPORT A. Community Standards/A&A B. Maintenance C. Security D. Landscape

Page 1 of 2

VI.

COMMITTEE REPORTS A. Planning B. Finance C. A&A

VII. CONSENT AGENDA Consent Agenda is used for those items which are non-controversial and appear to be unanimous in vote. Any Board member can ask for an item to be moved to Business. A. Minutes Approval 1. Board Meeting – December 21, 2020 VIII. UNFINISHED BUSINESS A. Annual Meeting 1. Time Extension to Assure Out-of-Country Owners’ Participation 2. Mail-in/Virtual Only 3. Candidate Forum Date – March 1, 2021 B. Monarch Ball Use at Pickleball Courts – Pickleball Committee Request Consideration of Trial Extension to February 15, 2021 Due to Covid Status IX. NEW BUSINESS A. Pickleball Noise Absorption Project Consideration of Placement of Capital Improvement Expenditure on Ballot B. EMS Response Protocol – Safety and Security Committee Recommendation Consideration of Escort/Accompaniment by Security X. DISCUSSION A. Pickleball Soundproofing Options Examination of Costs Related to Project XI. OPEN FORUM Member Input on Non-Agenda Items (limited to 3 minutes per speaker). Responses from the Board are at its discretion. XII. ADJOURNMENT Next Scheduled Board Meeting – February 15, 2021 – 1 P.M. (PT) Virtual OR La Palma Clubhouse

January 18 , 202 1 Treasurer’s Report & Ratification A. Financial Statement - December 31, 2020

OUTDOOR RESORT - PALM SPRINGS Operating Balance Sheet Dec-20

GL Number

Current Month

Last Year

ASSETS

CASH

1002,1003-000

Petty Cash

5,996

5,750

1019-000 1014-000

Pacific Western - Operating - CD (Working Capital)

250,000

Pacific Western - Payroll Account Pacific Western - Operating Account First Foundation - CD (Working Capital)

17,358 60,456 697,772

21,319

1016,1216-000

166,930 689,136

1018-000

Total Operating Cash

781,584

1,133,135

RECEIVABLES

1205-000 1208-000 1209-000 1210-000 1230-000 1215-000 1213-000 1211-000 1212-000 1214-000

Assessment Receivables

26,945 83,617 281,929

9,566

A/R Reserve A/R Capital A/R Clearing

216,834 205,870

A/R Guest Ledger

(8,695)

(19,246)

A/R Vendini CC Activities A/R Leased Outlets A/R - House Accounts AR- Developement Fund

(363)

(783)

- - -

A/R Transfer Balance Zero Acct.

Total Accounts Receivable

383,433

412,241

OTHER CURRENT ASSETS

1305-000 1320-000 1325-000 1350-000 1470-000 1471-000 1473-000 1490-000

Prepaid Insurance

49,185 11,912

49,212 12,302

Other Prepaid Expenses Prepaid Worker's Comp

- -

Land Available For Sale

Bar Inventory Store Inventory

9,312

8,815

Bar Happy Hour Food Inventory Golf Merchandise Inventory

256 330

TOTAL CURRENT ASSETS

70,995

70,915

OTHER ASSETS

1475-000 1480-000

Liquor License

8,812

6,667

Recycling Deposit

500

PROPERTY AND EQUIPMENT

1501-000 1502-000 1503-000 1504-000 1506-000 1507-000 1508-000 1509-000 1510-000 1515-000 1520-000 1525-000 1530-000 1535-000 1540-000

LP Recr Equip Furn & Other ES Recr Equip Furn & Other

190,884 154,920 70,099 12,993

190,884 156,389 70,099 12,993

Pool & Spa Equipment

Tennis Equipment

Golf Course Equipment

48,597

Cafe Improvements

140,372 97,766 30,521 729,614

140,372 97,766 30,521 565,080

Security Improvements Administration Building

Vehicles

Maintenance Equipment

45,566

Lake & Irrigation Equipment

158,547 102,103 118,007

158,547 118,002 118,007

Office Equipment

Other

Store Equipment & Fixtures

10,115

Accumulated Depreciation

(1,562,868)

(1,525,598)

PROPERTY AND EQUIP, NET

347,235

237,340

TOTAL ASSETS

1,592,559

1,860,798

OUTDOOR RESORT - PALM SPRINGS Operating Balance Sheet Dec-20

GL Number

Current Month

Last Year

LIABILITIES

CURRENT LIABILITIES

2010-000 2011-000 2013-000

Accounts Payable

(750)

75,064 29,139 18,518 49,997

Accounts Payable Accrual's

34,705 45,908 22,485 25,218

Utilities Accruals Payroll Accrual

2012,2059,2062-000

2015-000 2016-000 2018-000 2019-000 2020-000 2063-000 2021-000 2030-000 2064-000 2100-000

Worker's Comp Accrual

7,213 2,313

Sales Tax Payable

1,548

Use Tax

Occupancy Tax

(4,964)

(1,334)

Capital Lease Payable

Employee Appreciation Day Fund

(242)

(342)

Deferred Revenue Café Gratuities Payable Accrued Vacation Prepaid Assessments

(25)

35,924 179,913

40,817 173,507 19,486

2102,2014-000

Prepaid Activities ORPS Events

5,015

2104-000

Prepaid Bar Entertainment

Total Current Liabilities

344,735

414,467

OTHER LIABILITIES Sec Deposit Beauty Shop Sec Deposit Restaurant

2165-000 2170-000 2175-000 2431-000 2432-000 2405-000 2406-000 2407-000 2408-000 2409-000 2411-000 2412-000 2415-000 2420-000 2490-000

500

1,000

Sec Deposit Store Tennis Key Deposit Cable Box Deposit

500

1,750 2,000 2,585

1,250 2,200 5,941

Tennis Holding

Resorters Chorus Holding Fitness Center Holding

558

358

6,589

6,618

Computer Club

Pickle Ball Holding

4,102

6,409

ERT Holding

355

Big Star Holding

4,535 2,735

1,012 1,646

Stitch & Bees Quilt

Golf Holding

125

(2,374)

ORPS Golf Club

7,744

5,022

Total Other Liabilities

35,079

30,438

TOTAL OPERATING FUND LIABILITIES

379,814

444,905

OPERATING FUND BALANCE 2725-000,2600-000 Operating Fund Balance Beginning

1,332,224

1,473,232

2726-000 2600-000

Operating Fund BalanceTransfers Operating Fund Income(Loss)YTD

81,222

(119,479)

(138,561) (53,407) 1,362,486

Operating Reserve 2017 2018 Additional Funding

Total

1,212,745

TOTAL LIABILITIES AND FUND BALANCE

1,592,559

1,860,798

OUTDOOR RESORT - PALM SPRINGS Operating Summary Income Statement Dec-20

Budget to Date

Current Month

Budget

Variance

Last year this month YTD

Variance

Revenue Administration Resort Services

408,876 32,507 10,000

410,296 48,173 13,403 10,900

(1,420) (15,666) (3,403) (10,900)

379,999 45,477 13,251

2,419,504

2,424,814

(5,310) (43,583) (34,839) (30,883)

102,145 10,639

145,728 45,478 33,590

Lifestyles

Bar

8,655 1,386

2,707 3,237

Golf

1,346

1,500

(154)

3,234

Total Revenues

452,729

484,272

(31,543)

448,769

2,538,231

2,652,844

(114,613)

Budget to Date

Current Month

Budget

Variance

Last year this month YTD

Variance

Expenses Administration Resort Services

90,276 19,856 16,087

101,164 19,907 29,648 14,445 14,759 112,580 36,850

10,888

127,975 25,683 38,869 13,960 14,124 108,329 27,795

425,782 91,997 55,226

462,847 101,787 102,789 34,084 47,570 743,180 238,490 25,344 136,640 358,538 38,132 431,375

37,065

9,790

Lifestyles

13,561 14,098

47,564 25,092 16,998

Bar

347

8,992

Golf

10,046 116,071 40,239

4,713

30,572 769,009 228,322 19,791 119,896 372,127 33,907 502,089

Grounds & Greens

(3,491) (3,389)

(25,829)

Security Mailroom Facilities

10,168

4,647

4,997

350

4,415

5,553

24,498 69,707

27,088 59,487

2,590

27,100 56,959

16,744

Maintenance & Repair Vehicles Maintenance

(10,220)

(13,589)

7,279

6,380

(899)

4,796

4,225

Utilities

78,928

74,884

(4,044)

68,759

(70,714)

Total Expenses

477,982

502,189

24,207

518,763

2,657,710

2,720,776

63,066

Net Income/Loss

(25,253)

(17,917)

(7,336)

(69,994)

(119,479)

(67,932)

(51,547)

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Dec-20

Variance Last year this month This Year to Date

Budget to Date

GL Number

Description

Current Month

Budget

Variance

INCOME

ADMINISTRATION

393,560

362,687

2,361,360

3100-100 Assessments

1,499

1,237

262

1,119

5,959

7,418

(1,459)

3106-100 Late Fees/Interest/NSF

(38)

228

(228)

3107-100 Special Individual Assessments

2,200

1,084

1,116

2,100

8,600

6,500

2,100

3109-100 Transfer Fees

1,550

625

925

6,650

3,750

2,900

3111-100 Escrow Demand Fee

400

650

(250)

750

1,850

2,300

(450)

3119-100 Permit Fee

450

209

241

450

875

1,250

(375)

3151-175 Key Replacement

800

675

125

755

2,345

2,625

(280)

3110-125 Vendor Fees

8,416

12,218

(3,802)

11,588

25,575

39,383

(13,808)

3160-850 Laundry

550

400

3144-100 Other Income

5,890

3148-100 Interest - Operating Account

3115-100 Fines and Suspensions

408,876

410,296

(1,420)

379,999

2,419,504

2,424,814

(5,310)

Total Administration Income

EXPENSE

ADMINISTRATION

13,750

12,500

(1,250)

4100-100 Audit /Tax Returns

456

210

(246)

510

2,404

387

(2,017)

4109-100 Bank Fees

1,347

1,320

16,151

13,043

8,082

(4,961)

4226-100 Board Expenses

552

373

2,124

1,751

4365-300 Credit Card

6,173

4,181

(1,992)

6,043

39,373

33,872

(5,501)

4115-100 Computer

1,206

(323)

1,680

7,645

7,236

(409)

4125-100 First Aid

1,529

(2,229)

(354)

4127-100 Dues & Subscriptions

2,743

514

515

4,492

4,138

1,023

4148-100

Permits

116

1,139

8,283

(202)

8,202

50,909

49,694

(1,215)

4139-100 Insurance

8,485

(81)

825

5,436

6,982

1,546

4142-100 Copier Service

1,008

927

715

(1,807)

4,115

5,590

4,491

(1,099)

4145-100 Legal Fees

2,522

277

1,275

4151-100 Meals & Entertainment

180

457

1,361

1,467

2,742

183

1,047

4154-100 Mileage & Travel

183

1,098

(788)

360

525

165

4159-100 Office Equipment

141

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Dec-20

Variance Last year this month This Year to Date

Budget to Date

GL Number

Description

Current Month

Budget

Variance

(477)

958

3,994

2,576

(1,418)

4161-100 Supplies

1,017

540

1,417

(66)

1,389

7,780

6,754

(1,026)

4166-100

Payroll Services

1,483

657

3,088

19,438

24,651

5,213

4996-100 401K - All

3,830

4,487

(96)

(855)

4169-100

Postage & FedEx Delivery

601

505

564

2,262

1,407

(3,265)

(3,513)

4172-100 Printing

3,804

539

540

5,296

1,783

100

600

4177-100 Radios

100

445

144

445

910

1,200

290

4178-100 Recruitment

301

(243)

(53)

4182-100 Safety /1st Aid Supplies

534

291

219

1,804

1,751

150

(36)

120

1,083

900

(183)

4179-100 Storage Costs

186

862

3,139

1,892

5,172

3,280

4187-100 Training & Education

862

(87)

150

1,815

1,278

(537)

4191-100 Website

300

213

21,550

13,085

21,550

14,343

21,550

7,207

4973-100 Bonuses

8,465

(1,627)

3,155

4901-100 Wages & Salaries

33,823

32,196

39,787

184,591

187,746

(124)

668

432

315

(117)

4971-100 Overtime

181

8,700

1,345

8,700

7,355

8,700

1,345

4972-100 Holiday Gifts

7,355

(104)

5,651

4975-100 Payroll Taxes

2,757

2,653

3,278

10,267

15,918

1,169

301

1,556

5,586

7,014

1,428

4990-100 Workers Comp

868

2,239

730

2,314

8,093

13,434

5,341

4995-100 Health Insurance

1,509

300

250

314

1,032

1,400

368

4997-100 Employee Substance Test

3,948

23,688

5100-100 Contingency Expense

3,948

23,688

2,773

(2,773)

4999-100 Consulting

4102-100 Bad Debt Expense

(27)

4175-300 Business Tax

Total Administration Expense

90,276

101,164

10,888

127,975

425,782

462,847

37,065

Administrative Net Income/Loss

318,599

INCOME

RESORT SERVICES

3112-100 Website Listing

200

250

2,050

3113-100 Proximity Cards

151

890

1,222

(332)

3114-100 Transponders

754

1,075

(321)

1,011

3,112

4,808

(1,696)

3130-100 Beauty Shop Rent

318

(318)

300

848

(548)

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Dec-20

Variance Last year this month This Year to Date

Budget to Date

GL Number

Description

Current Month

Budget

Variance

3132-100 Espresso Bar Rent

(63)

126

(126)

3142-100 Café % of Sales

187

700

(513)

(633)

658

1,800

(1,142)

3133-100 Store Rent

500

612

(112)

500

1,000

1,836

(836)

3147-100 Real Estate % of Sales

1,643

4,167

(2,525)

3,585

12,591

25,000

(12,409)

3152-100 Real Estate % of Rental

1,883

(1,883)

4,342

11,298

(6,956)

3154-100 Other (Oracle Advertising)

375

1,500

(1,125)

2,235

3,890

2,925

965

3550-125 Resort Fees

28,637

37,800

(9,163)

37,750

72,992

95,865

(22,873)

3155-125 Advertising

300

3345-125 Copies & Faxes

113

3145-125

Directories

3330-300 Sundries

208

Total Rental/Reimburesement Income

32,507

48,173

(15,666)

45,477

102,145

145,728

(43,583)

EXPENSE

RESORT SERVICES

4103-125 Advertising & Marketing

100

8,072

8,474

402

4150-125 Credit Card Fees

1,395

2,156

761

2,293

2,949

3,795

846

4184-125 Front Desk Safety Supplies

100

400

4142-125 Photo Copier Services

878

318

878

560

4190-125 Uniforms

105

104

150

700

550

4198-125 Meals & Entertainment

(60)

149

198

4905-125 Wages & Saleries

15,258

14,148

(1,110)

20,723

67,856

73,043

5,187

4975-125 Payroll Taxes

1,592

1,109

(483)

1,061

5,769

6,649

880

4990-125 Workers Comp

243

(188)

1,139

330

(809)

4971-125 Overtime

180

(161)

142

(43)

4995-125 Health Insurance

1,096

1,204

108

542

5,454

7,221

1,767

4110-125

Cash Over/Short

Total Resort Services Expense

19,856

19,907

25,683

91,997

101,787

9,790

Resort Services Net Income/Loss

12,651

INCOME

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Dec-20

Variance Last year this month This Year to Date

Budget to Date

GL Number

Description

Current Month

Budget

Variance

LIFESTYLES

3170-200 ORPS Events

10,000

12,099

(2,099)

12,099

10,590

27,419

(16,829)

3174-200 Saturday - Coffee/Donuts

(30)

(60)

3175-200 Saturday Ice Cream

453

(453)

313

553

(553)

3200-200 Non-ORPS Events

821

(821)

821

1,446

(1,446)

3284-200 Sponsorship

16,000

(15,951)

3265-200 Flea Market Contributions

Total Lifestyles Income

10,000

13,403

(3,403)

13,251

10,639

45,478

(34,839)

EXPENSE

LIFESTYLES

4202-200 ORPS Events

5,476

10,947

2,502

13,297

10,795

4260-200 Decorations

500

462

276

1,000

724

4215-200 Ice Cream Social

275

259

338

825

487

4267-200 Linen Expense

161

(81)

227

199

366

167

4142-200 Copier Costs

362

145

1,175

1,100

4148-200 License & Permits

352

470

118

351

686

1,755

1,069

4272-200 Movie Rentals

4161-200 Office Supplies

214

162

502

856

354

4278-200 Paper Goods & Kitchen Supplies

143

226

569

343

4172-200 Printing

125

1,945

125

4190-200 Uniforms

214

1,530

428

856

428

4916-200 Wages & Salaries: Activities

12,649

16,134

3,485

18,648

42,357

59,417

17,060

4922-200 Tennis Courts/Set Up/Cleaning

627

(627)

4971-200 Overtime

(10)

129

139

712

139

475

336

4975-200 Payroll Taxes

1,116

1,598

482

2,281

3,948

6,392

2,444

4990-200 Worker's Comp.

665

521

(144)

714

3,033

2,084

(949)

4995-200 Health Insurance

1,105

3,381

2,276

453

(112)

13,521

13,633

Cash Over/Short

4110-200

4206-200 Comp Coffee & Supplies

4210-200 Non-ORPS Events

4212-200 Concerts & Entertainment

4218-200 Coffee & Donuts

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Dec-20

Variance Last year this month This Year to Date

Budget to Date

GL Number

Description

Current Month

Budget

Variance

Total Lifestyles Expense

16,087

29,648

13,561

38,869

55,226

102,789

47,564

Lifestyles Net Income/Loss

(6,087)

INCOME

BAR

3179-250 Happy Hour

8,271

(8,271)

7,272

21,462

(21,369)

3177-250 Food

702

(702)

294

3,457

(3,457)

3180-250 Entertainment Events

1,215

(1,215)

2,614

7,113

(4,499)

3184-250 Golf Scrambles

712

(712)

1,064

1,558

(1,558)

3182-250 Bar-FMCA Events

3183-250 Bar -Non ORPS Events

Total Bar Income

10,900

(10,900)

8,655

2,707

33,590

(30,883)

EXPENSE

BAR

4231-250 Bar Entertainment

887

2,650

1,200

2,174

974

4227-250 Bar Consummables

457

565

188

971

783

4228-250 Bar Food Cost

566

1,068

4230-250 Bar Supplies

428

422

873

237

858

621

4229-250 Bar Liquor

4,741

4,953

2,887

9,912

7,025

4918-250 Wages & Salaries/Contract Labor

309

5,742

5,433

4,882

3,907

14,229

10,322

4975-250 Payroll Taxes

510

485

364

1,530

1,166

4990-250 Worker's Comp.

517

485

234

1,551

1,317

4995-250 Health Insurance

(25)

597

622

(25)

1,791

1,816

Total Bar Expense

347

14,445

14,098

13,960

8,992

34,084

25,092

Bar Net Income/Loss

(347)

INCOME

GOLF

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Dec-20

Variance Last year this month This Year to Date

Budget to Date

GL Number

Description

Current Month

Budget

Variance

3400-400 Merchandise

312

277

263

815

754

3405-400 Golf Balls

528

183

345

138

1,202

344

858

3410-400 Club Rentals

239

(239)

239

835

(826)

3415-400 18 Holes

506

921

(415)

746

1,211

1,774

(563)

3420-400 9 Holes

122

(122)

220

(220)

Total Golf Income

1,346

1,500

(154)

1,386

3,237

3,234

EXPENSE

GOLF 4161-400 Office Equipment/Supllies

374

150

(224)

4132-400 Fore Tees Software/Maint

6,000

4172-400 Printing

207

500

293

4190-400 Uniforms

100

4600-400 Starter Shack Supplies

309

350

2,447

2,200

(247)

4610-400 Golf Merchandise

984

114

(870)

191

1,457

342

(1,115)

4650-400 Golf Balls

143

428

4950-400 Salaries & Wages

7,260

11,254

3,994

10,881

18,459

29,159

10,700

4975-400 Payroll Taxes

605

1,042

437

1,326

1,444

3,126

1,682

4971-400 Overtime

4990-400 Worker's Comp

366

661

295

1,254

937

1,982

1,045

4995-400 Health Insurance

522

1,195

673

473

(752)

3,583

4,335

4110-400 Cash Over/Short

(2)

Total Golf Expense

10,046

14,759

4,713

14,124

30,572

47,570

16,998

Golf Net Income/Loss

(8,700)

EXPENSE

GROUNDS & GREENS

4183-600 Contract Services

111,830

109,830

(2,000)

105,830

670,980

658,980

(12,000)

4148-600 License & Permits

4630-600 Irrigation Grounds & Golf

1,551

2,000

449

964

10,275

12,000

1,725

4660-600 Tree Trimming

40,800

40,000

(800)

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Dec-20

Variance Last year this month This Year to Date

Budget to Date

GL Number

Description

Current Month

Budget

Variance

4675-600 Flowers

264

38,448

27,700

(10,748)

4710-600 R&M Common Area

2,690

750

(1,940)

1,270

8,506

4,500

(4,006)

4670-600 Plants & Shrubs

Total Grounds & Greens Expense

116,071

112,580

(3,491)

108,329

769,009

743,180

(25,829)

EXPENSE

SECURITY

4144-150 Contract Fire Alarm

334

335

447

668

221

4142-150 Office Equipment

Supplies: Office

4161-150

174

150

4172-150 Printing

4184-150 Safety Supplies

416

248

(168)

4185-150 Proximity Cards

312

(312)

208

791

2,500

1,709

4186-150 Transponders

316

3,263

5,368

2,106

4190-150 Uniforms

413

360

635

4,652

2,474

(2,178)

4915-150 Wages & Salaries

29,719

25,550

(4,169)

16,983

160,045

166,073

6,028

4971-150 Overtime

2,673

417

(2,256)

389

6,994

2,498

(4,496)

4975-150 Payroll Taxes

1,719

2,514

795

2,761

17,625

15,084

(2,541)

4990-150 Worker's Comp.

1,373

1,808

435

1,693

7,883

10,846

2,963

4995-150 Health Insurance

4,389

5,410

1,021

4,792

26,126

32,459

6,333

Total Security Expense

40,239

36,850

(3,389)

27,795

228,322

238,490

10,168

EXPENSE

MAILROOM

4161-175 Supplies: Office

160

4190-175 Uniforms

100

411

200

4917-175 Wages & Salaries

4,047

4,374

327

3,360

17,843

21,846

4,003

4975-175 Payroll Taxes

585

506

(79)

613

1,814

3,036

1,222

4990-175 Worker's Comp

102

4971-175 Overtime

Total Mailroom Expense

4,647

4,997

350

4,415

19,791

25,344

5,553

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Dec-20

Variance Last year this month This Year to Date

Budget to Date

GL Number

Description

Current Month

Budget

Variance

EXPENSE

FACILITIES

4126-500 Holiday Decorations

644

4148-500 Licenses & Permits - Pools & Spas

9,247

7,714

(1,533)

4184-500 Supplies: Safety

600

886

600

4190-500 Uniforms

(105)

103

208

2,168

1,924

(244)

4500-500 Supplies: Housekeeping

3,695

5,219

1,524

6,020

14,726

18,375

3,649

4510-500 Pool Supplies: Pool

987

416

(571)

417

5,349

2,321

(3,028)

4530-500 Supplies: Tennis

100

4540-500 Pest Control

917

830

4,980

5,498

518

4930-500 Salaries & Wages: Housekeeping

15,100

15,532

432

14,589

64,277

73,704

9,427

4971-500 Overtime

724

(693)

1,138

148

(990)

4975-500 Payroll Taxes

1,262

1,057

(205)

1,174

4,352

6,337

1,985

4990-500 Worker's Comp

689

808

119

849

3,168

4,848

1,680

4995-500 Health Insurance

2,144

2,405

261

2,266

10,491

14,427

3,936

Total Facilities Expense

24,498

27,088

2,590

27,100

119,896

136,640

16,744

EXPENSE

MAINTENANCE & REPAIR

4142-700 Office Equipment/Copier Service

300

4161-700 Supplies: Office

100

248

148

4184-700 Supplies: Safety

953

292

(661)

574

3,528

1,748

(1,780)

4190-700 Uniforms

586

573

(13)

615

3,496

3,438

(58)

4757-850 Laundry Cards

479

(479)

960

1,680

720

4700-700 Administrative Building

179

417

238

199

1,118

2,498

1,380

4705-700 Lots (light bulbs/water repairs)

1,248

1,368

120

850

448

8,208

7,760

4715-700 Clubhouses

6,061

2,025

(4,036)

1,455

35,258

12,150

(23,108)

4720-700 Satellites (includes Guard Shack)

1,275

1,727

452

3,331

2,517

10,362

7,845

4725-700 Swimming Pools

6,800

1,685

(5,115)

2,685

17,062

5,101

(11,961)

4730-700 Tennis Courts

1,877

2,915

1,038

103

6,287

17,490

11,203

4733-700 R&M Recreation Equipment

167

120

2,086

1,002

(1,084)

4735-700 R&M Wells & Pumps

1,150

267

(883)

1,668

1,598

(70)

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Dec-20

Variance Last year this month This Year to Date

Budget to Date

GL Number

Description

Current Month

Budget

Variance

4740-700 R&M Lakes

2,288

2,290

2,222

13,728

13,740

4745-700 R&M Streets

1,252

300

(952)

7,442

3,022

(4,420)

4747-700 R&M Maintenance Building

464

189

(275)

894

1,134

240

4750-700 R&M Golf

300

4755-700 R&M Convience Store

4756-850 R&M Restauarant

211

135

2,988

1,266

(1,722)

4758-700 R&M Laundry Equipment

830

617

(213)

295

7,187

3,700

(3,487)

4759-700 Contracted Pool Service

9,782

(9,782)

4760-700 Supplies: Maintenance

1,599

833

(766)

1,558

10,017

4,998

(5,019)

4825-700 Small Tools

714

1,996

471

4,284

3,813

4960-700 Salaries & Wages: Maintenance & Repair

33,004

33,005

30,765

189,411

201,471

12,060

4971-700 Overtime

450

(370)

1,611

492

(1,119)

4975-700 Payroll Taxes

1,999

3,055

1,056

2,692

10,675

18,327

7,652

4990-700 Worker's Comp

1,513

2,212

699

1,735

9,607

13,268

3,661

4995-700 Health Insurance

5,700

4,453

(1,247)

5,497

33,786

26,713

(7,073)

Total Maintenance & Repair Expense

69,707

59,487

(10,220)

56,959

372,127

358,538

(13,589)

EXPENSE

VEHICLE MAINTENANCE

4148-800 License/Permits Vehicle/Equip

4190-800 Uniforms

210

163

(47)

210

945

978

4800-800 DMV Fees

172

(92)

1,340

1,272

(68)

4820-800 Shop Supplies

541

292

(249)

282

2,580

1,748

(832)

5025-600 Gasoline

552

632

555

1,810

2,864

1,054

4825-800 Tools

4830-800 R & M: Golf Carts

700

(528)

3,275

4,200

925

4835-800 R & M: Trucks

1,914

713

(1,201)

462

3,735

4,278

543

4965-800 Salaries & Wages

3,423

3,262

(161)

3,360

18,251

19,572

1,321

4971-800 Overtime

(34)

199

(103)

4975-800 Payroll Taxes

268

290

248

811

1,740

929

4990-800 Worker's Comp.

149

215

185

961

1,286

325

4810-800 Equipment Maintenance

Total Vehicle Expense

7,279

6,380

(899)

4,796

33,907

38,132

4,225

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Dec-20

Variance Last year this month This Year to Date

Budget to Date

GL Number

Description

Current Month

Budget

Variance

EXPENSE

UTILITIES

5000-100 Cable TV

15,334

14,906

(428)

14,336

104,219

89,436

(14,783)

5010-100 Electricity

25,033

19,200

(5,833)

19,201

206,561

165,538

(41,023)

5020-500 Natural Gas

13,241

13,994

753

12,441

26,566

32,474

5,908

5035-100 Telephone

3,861

4,176

315

4,277

22,587

19,828

(2,759)

5060-600 Refuse

5,463

3,872

(1,591)

4,436

19,630

16,606

(3,024)

5070-600 Dump Fees

1,806

1,935

129

2,136

6,804

8,689

1,885

5080-500 Water

11,557

14,456

2,899

9,488

100,272

84,793

(15,479)

5085-600 Sewer

2,634

2,345

(289)

2,445

15,450

14,011

(1,439)

Total Utilities Expense

78,928

74,884

(4,044)

68,759

502,089

431,375

(70,714)

Total Expense

477,982

502,189

24,207

518,763

2,657,710

2,720,776

63,066

OUTDOOR RESORT - PALM SPRINGS Reserve Balance Sheet

GL Number

Current Month Last Year

ASSETS

12/31/20

12/31/19

CASH

1065-000 1070-000 1075-000 1080-000

Checking Account - First Foundation Bank

1,277,955 524,626 266,769 266,226 158,679 158,679 2,356,222 2,301,525 4,059,625 3,251,056

Investment Account - Union Bank

Investment Account - Bank of Southern California

Investment Account - Morgan Stanley

RECEIVABLES

1230-000

Interest Receivable

0 0

OTHER CURRENT ASSETS

1345-000 1350-000 1355-000

Prepaid Other

Prepaid Federal Income Tax Prepaid State Income Tax

(3,360)

3,600 2,310 5,910

(591)

(3,951)

TOTAL ASSETS

4,055,674 3,256,966

LIABILITIES

12/31/20 12/31/19

CURRENT LIABILITIES Due to Operations Fund

2240-000 2305-000

61,174 107,389 0 61,174 107,389 0

Income Taxes Payable

61,174 107,389

TOTAL RESERVE FUND LIABILITIES

RESERVE FUND BALANCE Reserve Fund Balance Beginning Reserve Fund Income(Loss)YTD

2625-000

3,818,487 3,264,779 176,013 (115,202) 3,994,500 3,149,577

TOTAL LIABILITIES AND FUND BALANCE

4,055,674 3,256,966

OUTDOOR RESORT - PALM SPRINGS Reserve Fund Income Statement 31-Dec-20

July August September October November December January February March April May June Total ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL YTD

REVENUES

Reserve Fund Allocations

88,084

88,084 18,036 106,120

528,504 26,451 554,955 - 554,955

Interest Income

1,674

1,706

1,770

1,711

1,553

TOTAL

89,758

89,790

89,854

89,795

89,637

TOTAL REVENUES

89,758

89,790

89,854

89,795

89,637

106,120

EXPENSES: Real Estate Improvements & Repairs

32,486 95,422

32,045 81,429

8,662 9,875

1,376

55,058

129,627 249,315

Personal Property - Equipment Other Expenses/Bank Fee

41,010

21,579

- - - - -

Ameritrade Appreciation/Depreciation

Ameritrade Fees

Federal Income Tax State Income Tax

- -

TOTAL

41,010

127,908

113,474

18,537

22,955

55,058

378,942 - 378,942 - 176,013

Total Expenses

41,010

127,908

113,474

18,537

22,955

55,058

Net Income (Loss)

48,748

(38,118)

(23,620)

71,258

66,682

51,062

OUTDOOR RESORT - PALM SPRINGS Capital Balance Sheet 31-Dec-20

GL Number

Current Month Last Year

ASSETS

12/31/20

12/31/19

CASH 1075-000 Cash Account - Union Bank

209,426 100,607 0 209,426 100,607 0

1345-000 Prepaid Expenses

RECEIVABLES

TOTAL ASSETS

209,426 100,607

LIABILITIES

12/31/20 12/31/19

CURRENT LIABILITIES 2250-000 Due to Operations Fund

285,524 205,870 285,524 205,870

285,524 205,870

TOTAL DEVELOP. FUND LIABILITIES

DEVELOP. FUND BALANCE

2630-000 Capital Balance Beginning

(79,327) (122,004) 3,228 16,741 (76,099) (105,263)

Capital Income(Loss)YTD

TOTAL LIABILITIES

209,426 100,607

OUTDOOR RESORT - PALM SPRINGS Capital Income Statement 31-Dec-20

July August September October November December January February March April May June Total ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL YTD

REVENUES

Capital Fund Allocations

6,667 4,167

40,002 25,002

Development Fund Allocations

Interest Income

TOTAL

10,846

10,847

10,848

10,849

10,850

10,851

65,091 - 65,091

TOTAL REVENUES

10,846

10,847

10,848

10,849

10,850

10,851

EXPENSES: Real Estate Improvements & Repairs

1,000

28,276

31,064

- - -

1,523

61,863

Other Expenses

TOTAL

1,000

28,276

31,064

1,523

61,863 - 61,863 -

Total Expenses

1,000

28,276

31,064

1,523

Net Income (Loss)

9,846

(17,429)

(20,216)

10,849

9,327

10,851

3,228

Outdoor Resort Palm Springs Owners Association Operating Fund Working Capital Policy

Policy Statement

The Controller shall maintain one week to two weeks (2%-4%) of the Operating Fund's current annual budget as working capital for unforseen circumstances.

Working Capital at the end of any fiscal year exceeding 4% of the current annual budget will be realloacated as determined by the Board of Directors in accordance with our Governing Documents and California Civil Code.

Working Capital is defined as Current Assets minus Current Liabilities on the Operating Fund Balance Sheet.

Any recommendations to modify this policy should be reviewed with the General Manager and Controller prior to submission to the Board of Directors for final approval. (See Administative Policies and Procedures).

12/31/2020

12/31/2019

Current Assets Cash

83,811 383,433

193,999 412,241

Receivables

Other Current Assets

70,995

70,915

Total

538,239

677,154

Current Liabilities

Accounts Payable

76,447 83,385 179,913

123,700 97,684 173,507

Accruals (payroll items)

Owners Assessments prepaid

Capital Lease Payable

Other Current Liabilities

35,079

30,438

Total

374,824

425,328

Working Capital

163,416

251,826

2020-21

2019-20

Operating Fund Current Annual Budget

5,574,166

5,104,189

2% of Operating Budget 4% of Operating Budget

111,483 222,967

102,084 204,168

Actual - Working Capital as a Percentage of Operating Fund Current Annual Budget

2.93%

4.93%

Outdoor Resort – Palm Springs Income Statement Comments December 31, 2020

Revenues Budget: $484,272 Actual: $452,729 Variance: $ (31,543)

Administrative revenue was under budget by $1.4k, the contributing factor is laundry income. Laundry income has been down due to COVID. Escrow Demand’s and transfer fees remain steady with 11 closings in the month of December, generating $2k more than budget. Resort Services was under budget by $15.6k, resort fees have been significantly under budget due to the impact of COVID. Oracle advertising is also under budget by $1.1k. Percentage of sale and rentals for the month of December will be paid at the end of January. Leased outlet revenue is also at a halt due to COVID restrictions. Lifestyles received payment from Mike Thompson for $10,000, there is an additional $5,000 that will be allocated over the next couple months. Due to COVID restrictions, the Bar did not operate in the month of December. Golf came close to budget missing budget by $154. Overall revenue missed the mark by $31,543 for the month of December. Expenses Administration, Resort Services, Lifestyles, Bar, Golf, Mailroom, Facilities all came under budget with a $24.2 variance from budget. Grounds & Greens were over budget due to common area expenses such as bee hive removal, raccoon trapping and removal and landscape light fixtures. Security was over budget by $3.3k due to COVID. Shortage of staff caused wages and overtime to be higher than budget. Maintenance was over budget $10.2k, contributing items were the purchase of fire extinguishers, purchase of laundry cards, installation of 13 cameras, replacement of salt cell, servicing of 2 pool heaters, repair of pool tiles, servicing of well pump and the installation of lamp post. There was also a main water line break which caused over time. Budget: $502,189 Actual: $477,982 Variance: $24,207 Vehicle maintenance was slightly over budget due to shop supplies, DMV fees, tires for dump truck and trailer. Utilities was over budget by $4k, electricity and dump fees were the main contributors. Six-yard bins were requested to handle the amount of garbage versus the old dimension of four-yards. In the month of December expenses were $24,207 under budget. Health insurance overage was due to incorrect coding of staff to incorrect department, we have contacted our provider to make the correction. Net Income for the month: $ (25,253) Budget net income for the month: $ (17,917) Variance: $ (7,336) Year to date net income: $ (119,479) Budget year to date net income: $ (67,932) Variance: $(51,547) Rental Administration fee was $28,637, which equals 1,909 rental nights for December 2020

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