OUTDOOR RESORT PALM SPRINGS
Welcome back to all and we’re happy to see everyone, including folks we haven’t had the chance to socialize with over the summer. And to those of you who aren’t here yet or that for some reason may not make it down this year, greetings and hope to see you soon. Our financial situation is very good, mostly due to the new Resort Fee. Operating revenues exceeded expenses by $355,691, including the depreciation expense of $57,575. Reserves increased to a balance of $2,586,793. In the past year, the Committee: • Conducted 4 Post-Implementation Reviews & Audits Resort Rental Fee Store outsourcing Digital Oracle No Free Coffee • Accepted report from Board on potential new security system Considered financing options for $200K first phase • Postponed further discussion of POS systems/vendors New Janus accounting package includes POS connectivity • Reviewed and accepted monthly financial reports from Controller • Approved budget that increased Reserves • Received updated project approval process from Board • Accepted role in the Investment Committee charter • Accepted report from management on Reserves (List - Must, Should, Could) • Developed good mix of skills Our plan for the new year includes to take the next steps on Risk Management to understand probabilities, vulnerabilities, and treatments; the review of Reserve planned spending, front office operations, and post-implementation results, and an RFP for the external auditor. Keep in mind the goal is to have Reserves 70% funded by 2020, or a balance of $3,760,585. Our new, recently elected Finance Committee officers are: Greg Farmer, Chair Gail Pollock, Vice Chair. Committee members at Large: Howard Berman Bill Dietrich, Secretary Doug Folsom Dan Kelly Dave Mueller.
Another summer has flown by and for those of us that were here, it proved to be another hot one with multiple weeks over 115 degrees and a few days above 120 degrees (that’s 46 degrees and over 49 degrees Celsius for our Canadian residents).
NOV/DEC 2017
Board of Directors President B RIAN C ANFIELD Vice President M ARYELLEN M UIR Secretary D EDE L OOP CFO C RAIG W IRCH Members
Despite that, the staff continued working hard to keep the grounds and facilities in top shape. In addition to our normal maintenance and landscaping, there were several reserve projects that were done. The largest being the replacement of three 30+ year old lake liners on the back nine golf course. Not only were the liners replaced, but some pockets of rocks and some landscaping were added and the decomposing wooden rail road ties were replaced with boulders. In addition, the lake by whole #2 was slightly enlarged and made deeper in an effort to reduce algae growth. All lakes came in under what we had budgeted for in our reserves. The rest of the projects were a bit smaller in scale but included: repainting of the exterior of the La Palma, new blue umbrellas and shades for the La Palma pool area, new stainless steel counter tops and cabinets for the ES kitchen islands and a new Cambria countertop for the serving counter. We also had new bright lights installed at the ES Pickleball courts. There was also an administrative upgrade to our accounting software which has enabled us to have better reporting for our financials and also included a point of sale system for better accounting and inventory in the bar, front office, activities and golf. In other aspects of the resort, we have some returning vendors and something new. A-1 Golf Cars in the convenience store, Margie’s Expresso Bar and Lupe’s Hair Salon have all returned for another year. We have a new vendor that has leased our restaurant and is being occupied by Bella Roma. I know we are happy to have them all here so let’s demonstrate that by giving them our support ! I look forward to another great season here at ORPS!
B OB M OORE J IM W ALLER T ED W ILSON
General Manager C LINT A THERTON
Oracle Staff Editor Emeritae E LLEN L YNCH C ATHY C HAUNCEY
Editor E VA N ORCROSS
Sports Editor L UANN W ARD
Photo Editor P OSITION V ACANT
Production Staff J ANETTE C HUDLEIGH L OUISE K NOBF S USAN M ATTHEW J OANNE N YQUIST T OM O'F LAHERTY M ARY A NN P RIDDY M ARGIE S LEIGHT
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