June 11, 2020 Directors Report

Directors Report

Virtual Board Meeting

June 11, 2020

OUTDOOR RESORT – PALM SPRINGS MEETING OF THE BOARD OF DIRECTORS

THURSDAY, JUNE 11, 2020 VIRTUAL (Webinar/Phone) AGENDA EXECUTIVE SESSION – 8 A.M. PT Video Conference

CALL TO ORDER A. Minutes Approval – March 16; 23 & April 6; 29 & May 5; 11; 14; 27 B. Legal

C. Contracts D. Personnel E. Member Discipline

REGULAR MEETING – 9 A.M. PT The meeting will be held via Webinar.

A link will be sent via Constant Contact to attend the meeting by computer or phone. 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 – April 30, 2020 IV. SECRETARY’S REPORT V. GENERAL MANAGER’S REPORT A. Community Standards/A&A B. Maintenance C. Security D. Landscape VI. COMMITTEE REPORTS

Page 1 of 2

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. Regular Meeting – April 6, 2020 B. Audit Engagement - $11,750 (Budgeted – Operations) C. Approval of Reserve/Capital Spending Plans VIII. UNFINISHED BUSINESS None IX. NEW BUSINESS A. Pavement Management Plan - $5,225 (Unbudgeted – Operations) Engagement of Associated Engineering Consultants to Create a 5-7 Year Plan B. Laundry Equipment - $99,087 (Budgeted - Reserves) Replacement of Machines at Multiple Locations X. DISCUSSION A. Tennis Center & Sports Courts Beautification - Conceptual/Biddable Plans B. Administrative Policies and Procedures Update C. Strategic Plan Survey Results and Release 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 Virtual Board Meeting – August 13, 2020 - 9:00 a.m. (PT)

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June 11, 2020 Presidents Report

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

June 11, 2020 Treasurer’s Report & Ratification A. Financial Statement- April 30, 2020

OUTDOOR RESORT PALM SPRINGS OWNERS ASSOCIATION BALANCE SHEET 30-Apr-20

ASSETS

OPERATING FUND RESERVE FUND

CAPITAL FUND

TOTALS

Cash

344,531 939,136 13,093

741,292

129,756

1,215,579 3,674,707

Certificates of deposit Assessments receivable

2,735,571

13,093

Other receivables

(903)

Inventories

12,369 31,248

12,369 37,158 (1,767)

Prepaid expenses

5,910

Intercompany receivable (payable) Reserve Intercompany receivable (payable) Capital

8,100

(9,867)

223,662

(223,662)

Other assets

7,167

Property and equipment, net

237,340

- - - -

237,340

- - -

1,815,743

3,472,906

(93,906)

5,194,743

LIABILITIES Accounts payable and accrued expenses

83,305 155,248 62,536 42,384 343,473

Prepaid assessments

Accrued wages and salaries payable

- - -

Deposits and other liabilities

- -

FUND BALANCES

Fund balance beginning

1,554,454

3,264,779

(122,004)

4,697,229

Operating Fund Reserve 2017 2018 Operating Fund Income (Loss) YTD

(53,407) (82,184)

208,127

28,098

154,040

1,418,863

3,472,906

(93,906)

4,797,862

1,815,743

3,472,906

(93,906)

5,194,743

OUTDOOR RESORT PALM SPRINGS OWNERS ASSOCIATION STATEMENT OF REVENUE, EXPENSES AND CHANGES IN FUND BALANCES FOR THE PERIOD APRIL 30, 2020

299

394

REVENUES

OPERATING FUND RESERVE FUND CAPITAL FUND

TOTALS 477,922

Member Assessments

362,687

107,957

7,278

Additional Funding Reserve 2017 2018

Interest Income Fees & Permits Rental & Other

1,865

1,875

907

- - - - - - - -

907

5,564

Front Office

(3,853)

Activities

- -

- - - -

Bar

Oracle

Golf

Laundry

3,956

TOTAL REVENUES

369,261

109,822

7,288

486,371

Expenses Admin Front Office

68,416 13,699 35,176

- - - - - - - - - - - - - - - - -

- - - - - - - - - - - - - - -

68,416 13,699 35,176

Security Mailroom Activities

4,172

13,655

Bar Golf

455 657

Facilities Laundry Grounds

15,050

111,911

Vehicle Maint

6,514

Maint

57,798 55,981

Utilities

Contingency

- - - -

Other Expenses/Bank Fee

Federal Income Tax

TD Ameritrade Apprec/Deprec Replacement Fund Expenditures

208,127 208,127

570 570

208,697 592,180

TOTAL EXPENSES

383,483

Net Income/(Loss)

(14,222)

(98,305)

6,718

(105,809)

OUTDOOR RESORT PALM SPRINGS OWNERS ASSOC OPERATING BALANCE SHEET

4/30/2020

4/30/2019

CURRENT YEAR LAST YEAR

ASSETS

CASH Petty Cash

2,946

3,300

Pacific Western - Operating - CD (Working Capital)

250,000 125,265 216,320 689,136

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

82,129 646,151 682,004

1,283,667

1,413,584

RECEIVABLES Assessment Receivables

13,093

11,043 23,265 178,910

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

8,100

223,662

A/R Guest Ledger

581

1,708

A/R Vendini CC Activities

- -

A/R Leased Outlets

(1,483)

243,952

214,926

OTHER CURRENT ASSETS Prepaid Insurance Other Prepaid Expenses

16,404 14,844

15,761 10,911

Prepaid Worker's Comp Land Available For Sale

- -

3,300

Inventories

12,369 43,617

29,972

TOTAL CURRENT ASSETS

1,571,236

1,658,482

OTHER ASSETS Deposits

7,167 7,167

PROPERTY AND EQUIPMENT Fixed Assets Accumulated Deprecitation PROPERTY AND EQUIP, NET

1,762,938 (1,525,598)

1,762,938 (1,474,329)

237,340

288,609

TOTAL ASSETS

1,815,743

1,954,258

4/30/2020

4/30/2019

LIABILITIES

CURRENT YEAR LAST YEAR

CURRENT LIABILITIES Accounts Payable Accounts Payable Accrual's

1,896

30,060 34,964 69,150 21,942 (3,316)

58,691 18,518 18,956

Utilities Accruals Payroll Accrual

Worker's Comp Accrual

6,486 7,387

Sales Tax Payable

6,101

Use Tax

Occupancy Tax

(3,201)

(1,846)

Capital Lease Payable

Employee Appreciation Day Fund

(242)

(342)

Deferred Revenue Café Gratuities Payable Accrued Vacation Prepaid Assessments

- -

(27)

37,363 155,248

40,714 171,761

Prepaid Activities ORPS Events Prepaid Bar Entertainment

- - -

- -

301,089

369,186

OTHER LIABILITIES Deposits

3,650 5,941

3,750 5,941

Tennis Holding

Resorters Chorus Holding Fitness Center Holding

558

852

6,574

6,618

Computer Club

Pickle Ball Holding

5,348

6,909

ERT Holding

355

Big Star Holding

5,297 5,969

6,485 5,350

Stitch & Bees Quilt

Golf Holding

(99)

(2,374)

ORPS Golf Club

8,790

6,129

- 42,384

40,015

TOTAL OPERATING FUND LIABILITIES

343,473

409,201

OPERATING FUND BALANCE Operating Fund Balance Beginning Operating Fund BalanceTransfers

1,473,232

1,413,876

81,222

(53,407) (82,184)

(53,407)

Operating Fund Income(Loss)YTD

49,960

1,418,863

1,491,650

TOTAL LIABILITIES AND FUND BALANCE

1,815,743

1,954,258

OUTDOOR RESORT/PALM SPRINGS OWNERS ASSOCATIOSUNMMARY OPERATING FUND REVENUES & EXPENSES

This

Budget Month

Last Year

This Year

Budget to Date

Last Year

REVENUES

Month

Variance

Month

to Date

Variance

to Date

Assessment Revenue

362,687

352,983

3,626,870

3,529,830

Lot Revenue

907

2,607

(1,700) (16,185) (19,828)

4,954

25,208 84,140 301,127 99,732 63,395 90,414 17,105

25,718 61,440 312,330 155,534 68,375 97,146 13,892

(510)

31,040 80,942 334,869 119,417 83,706 97,796 10,461

Rental,Sales Commission & Other Revenue

5,564

21,749 15,975

21,134 23,991

22,700

Front Office

(3,853)

(11,203) (55,802) (4,980) (6,732)

Activities

- -

389 978

Bar

1,000 7,351

(1,000) (3,395)

Laundry

3,956

8,215

Golf

456

(456)

717

3,213

TOTAL REVENUES

369,261

411,825

(42,564)

413,360

4,307,990

4,361,305

(53,315)

4,288,061

This

Budget Month 67,788 11,384

Last Year

This Year

Budget to Date

Last Year

EXPENSES

Month

Variance

Month

to Date

Variance (109,230)

to Date

Administration Expense Front Office Expense

68,416 13,699

(631)

69,039 12,439

832,961 125,172

723,365 129,471

714,702 118,072

(2,315)

4,299

Other Expense Security Expense Mailroom Expense Activities Expense

35,176

36,284

1,108

30,414

359,588 34,514 190,192 68,455

374,792 37,441 253,075 62,905

15,205

358,667 30,491 209,415 64,800

4,172

4,383

211

3,126

2,927

13,655

15,057

1,402 3,231 1,417 7,540 8,268

14,026

62,883 (5,550)

Bar Expense

455

3,686 1,417 8,197

222

Laundry Expense

1,849 4,227

7,100

6,170

(930) (899)

5,553

Golf Expense

657

74,853 217,170

73,954 233,759

29,181 212,688

Facilities Expense Grounds Expense

15,050 111,911

26,430 112,838

21,761 107,845

16,589

927

1,170,503

1,172,380

1,877 2,060

1,130,726

Vehicle Maintenance Expense

6,514

5,672

(842)

6,631

57,680 536,727 715,261

59,740 565,407 779,507

54,701 543,343 713,051

Maintenance Expense

57,798 55,981

55,068 77,616

(2,730) 21,635

73,174 66,628

28,680 64,246

Utilities Expense

Contigency

TOTAL EXPENSES

383,483

425,820

39,222

411,381

4,390,175

4,471,966

82,157

4,185,391

NET INCOME (LOSS)

(14,222)

(13,994)

(3,342)

1,979

(82,184)

(110,661)

28,843

102,670

OUTDOOR RESORT/PALM SPRINGS OWNERS ASSOCATION OPERATING FUND REVENUES & EXPENSES

REVENUES Assessment & Lot Revenue: =======================

This

Budget

Last Year

This Year

Budget

Last Year

Month

Month Variance

Month

to Date

to Date Variance

to Date

Operating Assessments

362,687

352,983

3,626,870

3,529,830

Fees & Permits

907

2,607

(1,700) (1,700)

4,954

25,208

25,718

(510) (510)

31,040

TOTAL REVENUES

363,594

365,294

357,937

3,652,078

3,652,588

3,560,870

Rental & Other Revenue: ======================= Real Estate Office Commission

5,044

19,400

(14,356)

16,020

50,569

35,600

14,969

39,225

Real Estate Office Rent

Other Income

520

1,099 1,250

(579)

4,415

24,630

12,278 13,562 61,440

12,352 (4,621) 22,700

31,911

Proximity Cards & Transponders

(1,250) (16,185)

699

8,941

9,806

TOTAL REVENUES

5,564

21,749

21,134

84,140

80,942

EXPENSES Administrative Expenses: ======================= CPA Audit Expense

- -

250

- - -

11,750

12,500

750

11,650

Bad Debt Bank Fees

393 348

(313)

2,412

830

(1,582) (49,814)

179

Board Expense

1,040

692 578

1,992

65,982

16,168

13,276

Credit Card Expense Cash (Over)/Short

600

901

8,825

8,600

(225)

6,608

(2)

Computers

6,747

6,098

(649)

8,118

62,493

60,980

(1,513) (9,194)

70,662

First Aid

9,494 7,021

300

Dues & Subscriptions

467

150

(317)

197

6,549

(472) (860) (701)

5,251

Insurance

8,202

8,116

(86) (98)

7,880 2,292 2,705

82,020

81,160

78,804 10,669 14,783

Photocopier Service

938

840 700

9,977

9,276 7,000 1,577 4,650 1,830

Legal Fees

3,378

(2,678)

19,580

(12,580)

License/Permits

986

591

1,327 4,210

Meals & Entertainment Mileage/Travel Office Equipment Office Supplies Payroll Services Postage & Delivery

320

200 183

(120)

196

4,772

(122)

180 128

700 421

1,130

851 833

(45)

830

409

1,033 1,273 2,102 3,078

667

(366)

614

5,377

6,670

1,293

3,987

1,288

1,457

12,735

12,880

145 909

12,366

650 300

(1,452) (2,778)

640

5,141

6,050 3,900 1,900

3,529

Printing Radios

(1,737)

16,597

(12,697)

13,003

- - -

697

1,203

887 116

Recruitment

22,118

830

(21,288)

Retirement of Assets - Loss/(Gain)

Safety Incentives

591

300 150 100

(291)

519 228

4,290 1,395

4,140 1,500 1,000

(150)

2,017 1,104 4,052

Storage

150

105

Training & Education

1,134

11,317

(10,317)

Uniforms Web Site

- -

409

810

401

2,195 1,892 8,700

1,400 1,450 6,500

(795) (442)

1,022 1,627 5,300

Employee Substance Test Employee Appreciation Gifts

- - -

(50)

132

- -

(2,200)

Interest Expense

(1)

Wages

34,063

36,316

2,253 3,747

33,462

383,271 70,437 832,595

375,385 87,510 723,365

(7,886) 17,073

362,818 83,632 714,702

Payroll Taxes & Emp Benefits

5,004

8,751

8,286

TOTAL EXPENSES

68,416

67,788

(631)

69,039

(109,230)

OUTDOOR RESORT/PALM SPRINGS OWNERS ASSOCATION OPERATING FUND REVENUES & EXPENSES

REVENUES Front Office Revenue: ================= Administration Fee

This

Budget

Last Year

This Year

Budget

Last Year

Month

Month Variance

Month

to Date to Date Variance

to Date

(3,853)

15,975

(19,828)

23,928

300,425

312,330

(11,905)

334,085

Other Income

702

784

TOTAL REVENUES

(3,853)

15,975

(19,828)

23,991

301,127

312,330

(11,203)

334,869

EXPENSES Front Office Expense: ================= Advertising Credit Card Fees Front Desk Supplies

9,209

15,000 13,618

5,791

8,659

1,007

697 392

(310)

2,314

15,787

(2,169)

15,187

300

668

3,125

3,170

3,854

Internet

- - -

- - - - - -

- - -

Meals & Entertainment Cash (Over)/Short Photocopier Service

284

(284)

222

(5)

(45)

(28)

1,970

(1,970)

- - -

2,848

800 500

(2,048)

- - -

Uniforms

- -

700

(200)

COG Sundries

Wages

8,988 1,434

8,626 1,669

(362)

8,004 1,377

78,280 14,984 125,172

79,693 16,690 129,471

1,414 1,706 4,299

75,377 14,801 118,072

Payroll Taxes & Emp Benefits

235

TOTAL EXPENSES

13,699

11,384

(2,315)

12,439

Mailroom Expense: ================= Office Supplies

- -

390 411

251 200

(139) (211)

112

Uniforms

Wages

3,632

3,991

359

2,456

29,376

33,070

3,694

26,106

Payroll Taxes & Emp Benefits

540

392

(148)

670

4,337

3,920

(417)

4,273

TOTAL

4,172

4,383

211

3,126

34,514

37,441

2,927

30,491

Oracle Revenue: =============== Oracle Advertisement & Subscriptions

420 420

- -

(420) (420)

- -

8,955 8,955

- -

(8,955) (8,955)

14,633 14,633

TOTAL REVENUES

OUTDOOR RESORT/PALM SPRINGS OWNERS ASSOCATION OPERATING FUND REVENUES & EXPENSES

REVENUES Activities Revenue:

This

Budget

Last Year

This Year

Budget

Last Year

===================

Month

Month Variance

Month

to Date to Date Variance

to Date

ORPS Events

- - - - - - -

142

93,797

142,406

(48,609)

108,604

Saturday-Coffee & Doughnuts

664

(599)

109

Saturday Ice Cream NON ORPS Events

172

2,378 3,264

2,305 1,103

2,779 7,924

2,161

Flea Market Contributions

- -

228

172

- -

Misc.Other Events

9,000

(9,000) (55,802)

TOTAL REVENUES

389

99,732

155,534

119,417

EXPENSES Activities Expense: =================== DIRECT EXPENSES ORPS Events

- - - - - - - - -

- - - - - - - - - - - - -

- - - - - - - - -

56,399

94,805

38,406

62,556

NON ORPS Events

- -

125

- -

(125)

150 750

Concerts/Entertainment

Ice Cream Social Coffee Doughnuts

100

1,947

1,729

(218)

2,109

- - - - -

498

462

655

Bus Trips

Decorations ORPS Event

572

1,500

928

Decorations NON ORPS Event Linen Expense ORPS Event Linen Expense NON ORPS Event Paper Goods/Supplies ORPS Event Paper Goods/Supplies NON ORPS Event

518

1,371

853

1,433

117

(117)

1,150

(1,150)

956 564 157

- -

321

4,100

3,779

TOTAL DIRECT EXPENSES

117

(117)

143

61,067

104,003

42,936

69,371

NON DIRECT EXPENSES Photocopier Service

- - -

0 1

856

1,900 2,888

1,044

3,432 2,576

License/Permits

- - - - - - - -

- -

2,423

465

Dues & Subscriptions

- - -

319

Mileage/Travel Office Equipment Office Supplies

(20)

105

(105)

- - -

1,068 1,150

(1,068)

696

514

850 150 990

(300) (122)

2,033

Printing Uniforms

272

(18)

105

2,678

(1,688)

1,051

Comp Coffee & Supplies

- - - -

(13)

Movie Rentals

17 10

129

180

107

Cash (Over) Short Events Cleaning

(71)

4,524 5,580 4,848

4,524

30,624 77,554 33,936 149,072

30,624

1,858

Wages

10,445

(4,865)

11,649

96,348 24,011 129,125

(18,794)

104,929 22,940 140,044

Payroll Taxes & Emp Benefits

3,096

1,752 1,519

1,588

9,925

TOTAL NON DIRECT EXPENSES

13,538

15,057

13,883

19,947

TOTAL EXPENSES

13,655

15,057

1,402

14,026

190,192

253,075

62,883

209,415

NET INCOME/LOSS

(13,655)

(15,057)

(1,402)

(13,637)

(90,461)

(97,541)

(118,685)

(89,998)

OUTDOOR RESORT/PALM SPRINGS OWNERS ASSOCATION OPERATING FUND REVENUES & EXPENSES

REVENUES Bar Revenue: ============

This

Budget

Last Year

This Year

Budget

Last Year

Month

Month Variance

Month

to Date to Date Variance

to Date

Bar

- -

1,000 1,000

(1,000) (1,000)

978 978

63,395 63,395

68,375 68,375

(4,980) (4,980)

83,706 83,706

TOTAL REVENUES

EXPENSES Bar Expense =========== Bar-Entertainment Bar-Consumables Bar - Food Cost

- - - -

300 300

10,420

2,000 2,000 7,154

(8,420) (1,482)

4,575 1,215 8,932

3,482

239

7,058

Bar-Liquor

280 200

280 187

29,337

19,145

(10,192)

24,445

Bar Supplies

2,449

2,180

(269)

6,329

Wages

442 455

2,606 3,686

2,164 3,231

(69)

22,670 68,455

30,426 62,905

7,756

19,305 64,800

TOTAL EXPENSES

222

(5,550)

NET INCOME/LOSS

(455)

(2,686)

(4,231)

755

(5,060)

5,470

570

18,906

This

Budget

Last Year

This Year

Budget

Last Year

Golf Revenue =========== Golf

Month

Variance

Month

to Date to Date Variance

to Date

- -

456 456

717 717

17,105 17,105

13,892 13,892

(3,213) (3,213)

10,461 10,461

TOTAL REVENUES

EXPENSES Golf Expense: ============= Golf Pass Book Refunds

- - - - - - - - -

- - - - - -

- - -

Office Supplies

150

117

137

ForeTees Software Cash (Over)/Short

6,000

- -

(6,000)

(2)

Printing Uniforms

- -

500 300

422

379

228

Starter Shack Supplies

200

190

2,728 3,068

3,400

672

4,521

Golf Merchandise

- -

(3,068)

Golf Ball's

331

(331)

169

Wages

(438)

6,322 1,675 8,197

6,760

3,181

47,640 14,748 74,853

57,879 11,725 73,954

10,239 (3,023)

19,714

Payroll Taxes & Emp Benefits

1,095

580

856

4,234

TOTAL EXPENSES

657

7,540

4,227

(899)

29,181

NET INCOME/LOSS

(657)

(7,741)

(7,084)

(3,510)

(57,749)

(60,062)

(2,313)

(18,720)

OUTDOOR RESORT/PALM SPRINGS OWNERS ASSOCATION OPERATING FUND REVENUES & EXPENSES

REVENUES Laundry Revenue: ================

This

Budget

Last Year

This Year

Budget

Last Year

Month

Month Variance

Month

to Date to Date Variance

to Date

Laundry Facilities

3,956 3,956

7,351 7,351

(3,395) (3,395)

8,215 8,215

90,414 90,414

97,146 97,146

(6,732) (6,732)

97,796 97,796

TOTAL REVENUES

EXPENSES Laundry Expense =============== Laundry Expenses (includes cards)

- -

1,417 1,417

1,849 1,849

7,100 7,100

6,170 6,170

(930) (930)

5,553 5,553

TOTAL EXPENSES

NET INCOME/LOSS

3,956

5,934

(4,812)

6,366

83,314

90,976

(5,802)

92,243

EXPENSES Security Expense: ================= Lease/Contract-Fire Alarm

- - -

- -

- - - -

694

(694)

313

Office Equipment Office Supplies

- -

300 250

300 250 873

25 25

673

Printing

(26)

253

1,126

Contract Services Safety Supplies Proximity Cards Transponders Uniforms Expense

- - - -

(6,583)

- -

183,660

100

1,500 2,400

1,500

223

- -

104

10,439

(8,039)

11,011

4,133 3,921

10,000

5,868 3,079

8,918

384

700

316

339

7,000

606

Wages

26,523

25,202 10,232 36,284

(1,321)

27,362

260,384 79,765 359,588

249,896 102,320 374,792

(10,488)

119,663 33,601 358,667

Payroll Taxes & Emp Benefits

8,218

2,014 1,108

9,191

22,555 15,205

TOTAL EXPENSES

35,176

30,414

EXPENSES Utilities Expense: ================= Cable TV

14,906 14,920

14,880 23,964 10,064

(26)

16,284 18,514

147,309 237,584 73,670

147,498 255,589 87,380

189

153,153 238,079 79,924

Electricty

9,044 4,817

18,005 13,710

Natural Gas

5,247

9,806

Gasoline

272

484

212

569

4,556

4,840

284

4,775

Telephones

3,528 7,077 1,593 6,251 2,187

4,631 2,491 1,741

1,103

2,044 3,994 2,146 9,904 3,367

37,759 42,718 20,723 124,297 26,644 715,261

46,310 39,100 15,912 133,514 49,364 779,507

8,551

29,057 32,603 18,852 128,043 28,565 713,051

Waste Mgmt. Refuse Collection Riverside Country Dump Fees

(4,586)

(3,618) (4,811)

148

Water Sewer

14,907

8,656 2,267

9,217

4,454

22,720 64,246

TOTAL EXPENSES

55,981

77,616

21,635

66,628

Contingency

OUTDOOR RESORT/PALM SPRINGS OWNERS ASSOCATION OPERATING FUND REVENUES & EXPENSES

EXPENSES Facilities Expense:

This

Budget

Last Year

This Year

Budget

Last Year

===========

Month

Month Variance

Month

to Date to Date Variance

to Date

Decorations-Holiday

- - - -

- -

- - - -

1,000 7,714

1,000

644

License/Permits Pools/Spas

7,714

Office Supplies Safety Supplies

- -

886

500

(386)

Uniforms

156

(156)

(3,000)

2,661

3,504

843

1,753

Housekeeping Supplies

1,677

2,100 1,000

423

3,975 1,520

35,590

29,719 10,522

(5,871)

30,787

Pool Supplies

- - -

1,000

9,589

933

9,713

Recreation Supplies

- -

Tennis Supplies

100

100 170

1,000

1,000 2,045

Pest Control

830

1,000

1,625

7,955

10,000 126,010 43,710 233,759

9,095

Wages

7,848 4,539

14,689

6,841

13,451

112,042 40,733 217,170

13,968

117,666 35,286 212,688

Payroll Taxes & Emp Benefits

4,371

(168)

4,189

2,977

TOTAL EXPENSES

15,050

23,318

8,268

21,761

16,589

EXPENSES Grounds Expense ============================ License/Permits

- -

- - -

- -

Operating Supplies Contract Services

109,830

105,830

1,075,294

1,074,300

(994)

1,034,300

Irrigation Grounds & Golf

1,297

2,000

703

1,373

12,751 39,629

20,000 40,000

7,249

13,380 40,001

Tree Trimming

- - - -

371

Outside Wall Clean Up Plants/Shrub/Trees

- -

200

Annual Flowers R&M Comm Area

35,031

28,000 10,080

(7,031)

28,678 14,137

783

1,008

225

642

7,782

2,298

Payroll Taxes & Emp Benefits

(15)

TOTAL EXPENSES

111,911

112,838

927

107,845

1,170,503

1,172,380

1,877

1,130,726

OUTDOOR RESORT/PALM SPRINGS OWNERS ASSOCATION OPERATING FUND REVENUES & EXPENSES

EXPENSES Maintenance Expense: ====================

This

Budget

Last Year

This Year

Budget

Last Year

Month

Month Variance

Month

to Date to Date Variance

to Date

Office Equipment/Copier Service

- - - -

- -

- - - -

540

Fire Alarm

670

(670)

626

Mileage/Travel Office Supplies Safety Supplies

100

100 959

125

291

1,250

103 929

1,432

(1,349)

205 772

5,315 5,734 2,232 9,711

830

(4,485)

Uniforms

830

755 584

(75)

7,550 5,840

1,816 3,608 3,969

5,385 7,429

R&M Administrative Building

584

R&M Lots

253

1,368 1,834

1,115 1,739

3,226

13,680 20,636

13,085 45,132 14,063 17,159

R&M Club Houses

15,012

23,234

(2,598) (1,909)

R&M Satellites

1,140

572 350 250 167 100

(568)

3,990 3,571 2,137

7,629

5,720

R&M Swimming Pools R&M Tennis Courts

318 250

17,300

16,346

(954)

4,628

3,100 1,670 3,000

(1,528)

6,370

R&M Recreation Equipment

265

(98)

- -

500 900

1,170 2,100

875

R&M Wells & Pumps

100

1,983

R&M Lakes R&M Streets

3,690 4,204

2,707

(983)

2,422 1,379

35,301

26,668

(8,633) (4,113)

23,276

222 333

(3,982)

7,665

3,552 3,330

4,143

R&M Maintenance Building

538

(205)

538

2,792

R&M Golf

- -

830

288

R&M Convenience Store

224

(224)

R&M Restaurant

841

292

(549)

2,110 6,200

4,977

2,920

(2,057)

4,023

Contracted Pool Service Maintenance Supplies

50,287

1,284

833 245

(451)

730

8,785 5,844

8,330 2,450

(455)

7,401 2,374

Tools

128

117 598 491

(115)

(3,394) 39,231

Wages

32,967 10,100 57,798

33,564 10,591 55,068

24,056

291,924 103,323 536,727

331,155 105,910 565,407

259,829 78,513 543,343

Payroll Taxes & Emp Benefits

7,394

2,587

TOTAL EXPENSES

(2,730)

73,174

28,680

EXPENSES Vehicle Maintenance =================== License/Permits Vehicle/Equip

- -

229

165

Office Supplies

Uniforms

175 142

120

(55)

175

1,575 2,203

1,200 3,121

(375)

1,233 1,440

DMV Fees/Licenses & Permits

- -

(142)

- -

918

Equipment Maintenance

(60)

Shop Supplies

2,304

445 208 700 500

(1,859)

274

4,456

4,450 2,080 7,000 5,000

(6)

2,356

Tools

208 374 442

1,994 2,592

Maintenance Golf Carts Maintenance Autos/Trucks

326

2,294

4,408 9,166

7,884 7,177

512

(4,166)

Wages

3,126

3,183

2,979

31,079

31,830

751 247

30,347

Payroll Taxes & Emp Benefits

383

483

100

397

4,583

4,830

4,182

TOTAL EXPENSES

6,514

5,672

(842)

6,631

57,680

59,740

2,060

54,701

OUTDOOR RESORT PALM SPRINGS OWNER'S ASSOCIATION CAPITAL BALANCE SHEET

CURRENT YEAR PREVIOUS YEAR

ASSETS

04/30/20

04/30/19

CASH Cash Account - Union Bank

129,756

49,623

Prepaid Expenses

129,756

49,623

RECEIVABLES

TOTAL ASSETS

129,756

49,623

LIABILITIES

04/30/20

04/30/19

CURRENT LIABILITIES

Due to Operations Fund

223,662 223,662

178,910 178,910

TOTAL CAPITAL FUND LIABILITIES

223,662

178,910

CAPITAL FUND BALANCE Capital Fund Balance Beginning Capital Fund Income(Loss)YTD

(122,004)

23,234

28,098

(152,521) (129,287)

(93,906)

TOTAL LIABILITIES AND FUND BALANCE

129,756

49,623

OUTDOOR RESORT PALM SPRINGS OWNERS ASSOCATION CAPITAL FUND REVENUES & EXPENSES

4/30/2020

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 Allocation

7,278

72,780

Interest Income

TOTAL

7,282

7,283

7,284

7,286

7,287

7,286

7,288

72,849

TOTAL REVENUES

7,282

7,283

7,284

7,286

7,287

7,286

7,288

72,849

- -

EXPENSES:

Real Estate Improvements & Repairs

4,384

19,839

4,246

(1,510)

7,060

570

1,538

8,624

- - - -

44,752

Other Expenses

- -

=======================

TOTAL

4,384

19,839

4,246

(1,510)

7,060

570

1,538

8,624

44,752

Total Expenses

4,384

19,839

4,246

(1,510)

7,060

570

1,538

8,624

44,752

Net Income (Loss)

2,898

7,282

7,283

(12,556)

3,038

8,796

227

6,716

5,750

(1,336)

28,098

OUTDOOR RESORT PALM SPRINGS OWNER'S ASSOCIATION RESERVE BALANCE SHEET

CURRENT YEAR

LAST YEAR

ASSETS

04/30/20

04/30/19

CASH Checking Account - First Foundation Bank

741,292 266,751 158,679

1,136,421

Investment Account - Union Bank

261,379 158,243

Investment Account - Bank of Southern California

Investment Account - Morgan Stanley

2,310,140 3,476,863

1,500,000 3,056,043

RECEIVABLES

Interest Receivable

0 0

OTHER CURRENT ASSETS Prepaid Other Prepaid Federal Income Tax Prepaid State Income Tax

3,600 2,310 5,910

1,620 1,220 2,840

TOTAL ASSETS

3,482,773

3,058,883

LIABILITIES

04/30/20

04/30/19

CURRENT LIABILITIES Due to Operations Fund Income Taxes Payable

9,867

5,574

9,867

5,574

TOTAL RESERVE FUND LIABILITIES

9,867

5,574

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

3,264,779

2,910,762

208,127

142,546

3,472,906

3,053,308

TOTAL LIABILITIES AND FUND BALANCE

3,482,773

3,058,883

OUTDOOR RESORT PALM SPRINGS OWNERS ASSOCATION RESERVE FUND REVENUES & EXPENSES

4/30/2020

$89 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

107,957

107,957 19,165 127,122

107,957

1,079,570

Interest Income

1,097

3,642

2,997

3,329

2,938

3,865

2,708

2,375

1,865

43,981

TOTAL

109,054

111,599

110,954

111,286

110,895

111,822

110,665

110,332

109,822

1,123,551 - 1,123,551 -

TOTAL REVENUES

109,054

111,599

110,954

111,286

110,895

127,122

111,822

110,665

110,332

109,822

EXPENSES:

- -

=======================

Real Estate Improvements & Repairs

149,140

95,026

128,821

127,339 88,917

102,583

28,652 75,617

26,050 30,689

27,780

10,290

21,271

716,953 198,456

Personal Property - Equipment Other Expenses/Bank Fee

1,114

2,119

Ameritrade Appreciation/Depreciation

- -

- - - -

Ameritrade Fees

Federal Income Tax State Income Tax

TOTAL

149,140

95,039

128,824

216,256

102,583

104,269

56,739

28,893

12,409

21,271

915,424 - 915,424 - 208,127

Total Expenses

149,140

95,039

128,824

216,256

102,583

104,269

56,739

28,893

12,409

21,271

Net Income (Loss)

(40,086)

16,560

(17,870) (104,970)

8,312

22,852

55,082

81,772

97,924

88,551

Outdoor Resort Palm Springs Owners Association Operating Fund Working Capital Policy

Policy Statement

The Controller shall maintain one half to one months (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 25% of the current annual budget would require a cash transfer from the Operating Fund to the Reserve Fund.

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.

4/30/2020 4/30/2019

Current Assets Cash

344,531 243,952 43,617

731,580 214,927 29,971

Receivables

Other Current Assets

Total

632,099

976,478

Current Liabilities

Accounts Payable

83,278 62,563 155,248

140,275 58,998 171,761

Accruals (payroll items)

Owners Assessments prepaid

Capital Lease Payable Other Current Liabilities

42,384

40,015

Total

343,473

411,049

Working Capital

288,626

565,429

2% of Operating Budget 4% of Operating Budget

102,084 204,168

100,068 200,136

Funded amount of operating budget 04/30/20

5.91% 11.58%

OUTDOOR RESORT PALM SPRINGS OWNERS ASSOCIATION

OPERATING FUND P & L COMMENTS APRIL 2020

REVENUES

BUDGET: ACTUAL:

$ $ $

411,825 369,261 42,564

VARIANCE:

All areas came in significantly lower than budgeted for the month of April due to COVID pandemic. Administrative fees, late fees, interest fees were not assessed in the month of April. Admin fees will resume May 1 2020. The areas most effected by closures was Front office Administrative fees, rentals, sales, and commissions.

EXPENSES:

BUDGET: ACTUAL:

$ $ $

425,820 383,483 42,337

VARIANCE:

Admin was over budget due to legal, printing and postage for the ballots. Front office was over budget due to quarterly printing overages. I believe there was an error or miscalculation in wages for Activites as only $5k was budgeted and I am positive that is incorrect. We had one full time employee and the Director for the full month of April. Waste was significantly over budget due to the additional bins. Electricity was under budget due to the closure of satelittes. Overall compared to budget the variance between budgeted loss and actual is only $227.

NET INCOME for the month:

$ $ $

(14,222) (13,995)

BUDGET NET INCOME for the month:

VARIANCE:

(227)

YEAR TO DATE NET INCOME:

(82,184) (110,661)

BUDGET YEAR TO DATE NET INCOME:

VARIANCE:

28,477

Rental Administration fee was

(3,853.23) $ which equals

(257) rental nights refunded due to COVID for April 2020

Apr-20 Forecast

Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20

Total

Variance

Revenue Assessment

Actuals Actuals Actuals Actuals Actuals Actuals Actuals Actuals Actuals Actuals Budget

Budget Actual/Forecast Budget

362,687

4,352,244

Fees & Permits Rental & Other

1,550

1,363 1,955 2,912

1,261 2,311 3,179

2,025 4,926

3,240 8,498

3,969 9,446

3,358 7,332

3,904

3,632

907

2,157 1,295 4,725

2,157 1,195 2,580

29,522 92,456 308,433 99,267 63,395

30,032 63,930 319,635 155,534 68,375

(510)

12,708

19,874 80,505 25,810 19,642

17,352 61,726 13,966

5,564

28,526

Front Office/Admin Fee

2,628

12,858

36,640 21,485 12,414

37,786 13,251

66,747 24,755 15,343

(3,853)

(11,202) (56,267) (4,980)

Activities Direct

- - - -

Bar

8,655

7,341

Store

Golf

1,538

11,588

5,714

4,645

3,822

150

27,457 83,463

14,042 100,397

13,415

Laundry

1,064

902

2,081

6,863

15,516 462,018

1,386

18,336 504,272

17,015 534,082

13,093 483,619

3,956

2,152

1,099

(16,934) (47,952)

Total Revenue Expenses Front Office Activities Direct

380,636

369,818

371,518

389,359

448,768

369,261

373,166

369,718

5,056,237

5,104,189

8,487

(2,764) (42,972)

16,672 7,939 10,153

12,916 14,547 14,184 14,198 12,162

13,699 10,643

8,744

144,344 147,108 61,031 104,003

7,276 11,895

8,762 21,919 11,055

117 455

Bar

3,579

62,905

5,549

1,957

11,788 13,960 19,539 17,176

68,454

Store

876

(876)

Golf

(481)

77,014

898 929

4,117 1,122

18,509 14,124 16,557

6,294 15,075

657

3,060

77,912

Laundry

3,701

542

295

481

479

417

7,004

7,933

Admin

56,274 32,247

110,559 (14,328) (2,927) (19,959) (18,158) (1,876) (2,061) (28,407) (64,101)

72,834 55,827 77,934 29,167 31,987 35,418

81,841 128,487 122,022 61,081 107,832 39,215 39,508 47,782 41,457 27,632

68,416 72,231 35,176 36,184

62,124 36,184

966,903 856,344 431,956 446,284

Security Mailroom

1,241

3,105

46,207

1,449 1,519

2,434

4,835 4,415

6,506

4,838

4,172

4,383

43,280

Activites Non Direct

107

113 2,186 12,176 9,773 26,653 29,184

21,595 25,030 20,239 18,735 15,394 23,420 27,350 29,789 24,345 20,637

13,538

129,263 149,222 242,574 260,732 1,404,180 1,406,056

Facilities Grounds

11,150 147,230

15,050 12,720

12,503

108,727 107,467 140,408 109,654 108,329 112,040 112,994 111,744

111,911 118,838 114,838

Vehicle Maint

6,101

5,362

72,733

6,425 5,453

4,794

7,528 4,240

4,828

6,434

6,514

6,604

6,389

70,672

Maint

52,614 77,468

56,581 58,509 55,260 80,794 80,550 57,607

40,888 57,270 53,169 56,939 47,972 72,721 69,314 77,292 71,600 72,079

57,798 71,055 55,981 71,536

54,445 71,527

662,500 690,907 858,469 922,570

Utilities

Contigency

Total Expenses

392,438

382,536

381,791

432,571

452,728

518,764

533,190

458,490

454,107

383,483

407,746

371,629

5,169,472

5,249,965

(80,493)

Net Income/(Loss)

(11,802)

(12,718)

(10,272)

(43,212)

9,291

(69,995)

(28,917)

75,593

29,512

(14,222)

(34,579)

(1,910)

(113,235)

(145,776)

32,541

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