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
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