August 13 2020- Director's Report

Directors Report

Virtual Board Meeting

August 1 3 , 2020

MEETING OF THE BOARD OF DIRECTORS THURSDAY, AUGUST 13, 2020 VIRTUAL (Webinar/Phone) AGENDA EXECUTIVE SESSION – 10 A.M. PT Video Conference

CALL TO ORDER A. Minutes Approval – July 16 B. Legal

C. Contracts D. Personnel E. Member Discipline

REGULAR MEETING – 1 P.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. Unaudited Year-End Financial Statement – June 30, 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

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. Special Meeting of Members - June 29, 2020 2. Special Board Meeting – July 16, 2020 VIII. UNFINISHED BUSINESS A. Strategic Plan – Phase 4 (Conceptual Design) Consideration of Approval B. CVWD Property Consideration of Purchase IX. NEW BUSINESS A. Board Member Resignation Replacement Process B. Palm Tree Removal/Replacement Review and Direction X. DISCUSSION A. Amazon Locker Cost & Location for Alternative Package Delivery B. Covid-19 Impact on Season Preparedness Possible Budget/Staffing/Activities Adjustments 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 – October 19, 2020 – 1 P.M. (PT) La Palma Clubhouse

August 13 , 2020 Presidents Report

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

August 13 , 2020 Treasurer’s Report & Ratification A. Unaudited Year- End Financial Statement- June 30, 2020

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

4,352,244

4,235,796

Lot Revenue

550

2,157 1,195 2,580

(1,607) 10,808

1,872 8,901 3,893

26,083 97,538 306,367 99,732 63,395 94,409 17,105

30,032 63,930 319,635 155,534 68,375 100,397 14,042

(3,949) 33,608 (13,268) (55,802) (4,980) (5,988)

35,192 101,926 347,087 119,417 83,706 101,735 10,491

Rental,Sales Commission & Other Revenue

12,003

Front Office

1,755

(825)

Activities

- -

Bar

Laundry

1,447

1,099

348

1,276

Golf

3,063

TOTAL REVENUES

378,442

369,718

8,724

368,925

5,056,872

5,104,189

(47,317)

5,035,350

This

Budget Month

Last Year

This Year

Budget to Date

Last Year

EXPENSES

Month

Variance

Month

to Date

Variance (122,144)

to Date

Administration Expense Front Office Expense

58,100

62,124

4,021 6,736

56,585

979,364 140,104

857,220 149,058

826,588 135,917

2,108

8,844

7,443

8,954

Other Expense Security Expense Mailroom Expense Activities Expense

37,060

36,476

(584)

32,472

456,095 38,634 200,069 67,683

447,452 46,207 253,225 62,905

(8,643)

425,051 35,740 212,610 64,787

378

4,383

4,005

1,683

7,573

(130) (527)

205 527 417

427

53,156 (4,778)

Bar Expense

- - -

Laundry Expense

- -

417

7,100

7,004

(96)

6,035

Golf Expense

76,064 254,068

77,014 258,782

950

29,782 237,363

Facilities Expense Grounds Expense

15,428 113,921

12,403 114,838

(3,025)

9,221

4,714 6,535 2,357

917

108,668

1,399,633

1,406,056

1,351,626

Vehicle Maintenance Expense

6,310

6,389

3,326

70,376 673,309 854,564

72,733 690,907 922,570

62,714 646,447 836,602

Maintenance Expense

62,772 73,037

54,445 71,527

(8,327) (1,510)

43,144 57,053

17,598 68,006

Utilities Expense

Contigency

TOTAL EXPENSES

368,457

371,921

3,461

320,021

5,217,062

5,251,133

34,183

4,871,260

NET INCOME (LOSS)

9,985

(2,202)

12,185

48,903

(160,190)

(146,944)

(13,134)

164,090

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

4,352,244

4,235,796

Fees & Permits

550

2,157

(1,607) (1,607)

1,872

26,083

30,032

(3,949) (3,949)

35,192

TOTAL REVENUES

363,237

364,844

354,855

4,378,327

4,382,276

4,270,988

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

11,578

- -

11,578

1,146

62,758

35,600

27,158

51,596

Real Estate Office Rent

Other Income

425

945 250

(520) (250)

7,608

25,838

13,918 14,412 63,930

11,920 (5,471) 33,608

39,995 10,335 101,926

Proximity Cards & Transponders

147

8,941

TOTAL REVENUES

12,003

1,195

10,808

8,901

97,538

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

- -

- - - -

11,750

12,500

750

11,650

Bad Debt Bank Fees

203

(123)

2,916

996

(1,920) (52,123)

179

Board Expense

1,065

(1,065)

68,291

16,168

13,660

Credit Card Expense Cash (Over)/Short

- -

200

192

8,825

9,000

175

6,994

Computers

4,581

6,098

1,517

7,332

75,419 11,023

73,176

(2,243) (10,663) (1,568) (1,032)

82,945

First Aid

360

Dues & Subscriptions

707

150

(557)

1,125 7,880

8,717

7,149

7,580

Insurance

8,202

8,116 1,132

(86)

98,424 11,142 24,041

97,392 11,248

94,564 12,284 16,690

Photocopier Service

351

781

770

106

Legal Fees

2,719

700

(2,019)

1,079

8,400 1,577 5,550 2,196

(15,641)

License/Permits

986

591 373

1,327 4,565 1,067 1,058 4,512

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

500 183

467 183

217

5,177

700 511

1,496

135 273 953 731

996

485 424 160

2,000 1,059

667

(1,333)

7,580

8,004

1,292

233 330

15,300

15,460

14,857

270

600

5,641

8,650 6,400 2,250

3,009

5,634

Printing Radios

- - - -

1,000

- - - -

19,326

(12,926)

18,413

697

1,553

1,320

Recruitment

22,118

996

(21,122)

116

Retirement of Assets - Loss/(Gain)

Safety Incentives

613 363

300 150 100

(313) (213)

684 135 392

4,903 1,921

5,450 1,800 6,104

547

2,701 1,383 4,662

Storage

(121)

Training & Education

- -

100

11,317

(5,213)

Uniforms Web Site

353

505

152

160

2,765 1,932 8,700

1,905 1,450 6,500

(860) (482)

1,398 1,697 5,300

Employee Substance Test Employee Appreciation Gifts

- - -

(5)

- -

(2,200)

Interest Expense

(1)

Wages

30,006

31,401

1,395 3,227 4,021

27,467

463,940 85,301 979,364

440,531 105,012 857,220

(23,409)

411,690 98,233 826,588

Payroll Taxes & Emp Benefits

5,524

8,751

6,985

19,711

TOTAL EXPENSES

58,100

62,124

56,585

(122,144)

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

1,755

2,580

(825)

3,888

305,660

319,635

(13,975)

346,265

Other Income

707

821

TOTAL REVENUES

1,755

2,580

(825)

3,893

306,367

319,635

(13,268)

347,087

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

9,209

15,000 13,936

5,791

9,462

346 148

112 242

(234)

16,499

(2,563)

15,862

201

3,515

3,654

139

4,177

Internet

- - - - - -

- -

- - -

Meals & Entertainment Cash (Over)/Short Photocopier Service

284 390

(284) (390)

242

(3)

- - -

2,848

800 500

(2,048)

- - -

Uniforms

700

(200)

COG Sundries

Wages

6,741

6,821 1,669 8,844

5,915 1,207 7,443

95,124 11,534 140,104

95,140 20,028 149,058

88,812 17,366 135,917

Payroll Taxes & Emp Benefits

(5,127)

6,796 6,736

8,494 8,954

TOTAL EXPENSES

2,108

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

- -

390 411

251 200

(139) (211)

129

Uniforms

Wages

1,720

3,991

2,271 1,734 4,005

1,534

34,257

41,052

6,795 1,128 7,573

30,967

Payroll Taxes & Emp Benefits

(1,342)

392

149

3,576

4,704

4,643

TOTAL

378

4,383

1,683

38,634

46,207

35,740

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

- -

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

- - - - - - -

93,797

142,406

(48,609)

108,604

Saturday-Coffee & Doughnuts

664

(599)

109

Saturday Ice Cream NON ORPS Events

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

99,732

155,534

119,417

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

(213)

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

213

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

56,185

94,805

38,620

62,506

NON ORPS Events

- - - - - - - - - - -

125

- -

(125)

150 750

Concerts/Entertainment

Ice Cream Social Coffee Doughnuts

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

1,150

(1,150)

956 564 157

321

4,100

3,779

TOTAL DIRECT EXPENSES

(213)

213

60,854

104,003

43,149

69,321

NON DIRECT EXPENSES Photocopier Service

- - - - - - - - - -

421

856

2,050 2,888

1,194

3,453 2,513

License/Permits

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

- - - - - - - - -

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

2,423

465

Dues & Subscriptions

- - -

319

Mileage/Travel Office Equipment Office Supplies

105

(105)

1,068 1,150

(1,068)

696

850 150 990

(300) (122)

2,019

Printing Uniforms

272

2,678

(1,688)

1,051

Comp Coffee & Supplies

(13)

Movie Rentals

129

180

107

Cash (Over) Short Events Cleaning

(2)

(69)

- -

30,624 77,554 33,936 149,222

30,624

1,858

Wages

103,672 26,778 139,215

(26,118)

107,110 24,058 143,289

Payroll Taxes & Emp Benefits

85 83

(85)

7,158

TOTAL NON DIRECT EXPENSES

(8)

427

10,007

TOTAL EXPENSES

(130)

205

427

200,069

253,225

53,156

212,610

NET INCOME/LOSS

130

(75)

(205)

(427)

(100,337)

(97,691)

(108,958)

(93,193)

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

- -

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

(100)

- - - - - - -

100

- - - - - - -

10,320

2,000 2,000 7,154

(8,320) (1,482)

4,575 1,215 8,932

- - -

3,482

7,058

Bar-Liquor

29,337

19,145

(10,192)

24,445

Bar Supplies

(6)

2,210

2,180

(30)

6,329

Wages

(433) (527)

433 527

22,237 67,683

30,426 62,905

8,189

19,292 64,787

TOTAL EXPENSES

(4,778)

NET INCOME/LOSS

527

(527)

(4,288)

5,470

(202)

18,919

This

Budget

Last Year

This Year

Budget

Last Year

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

Month

Variance

Month

to Date to Date Variance

to Date

- -

17,105 17,105

14,042 14,042

(3,063) (3,063)

10,491 10,491

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

2,728 3,068

3,600

872

4,413

Golf Merchandise

- -

(3,068)

Golf Ball's

331

(331)

169

Wages

47,640 15,958 76,064

60,739 11,725 77,014

13,099 (4,233)

20,138

Payroll Taxes & Emp Benefits

4,518

TOTAL EXPENSES

950

29,782

NET INCOME/LOSS

(58,959)

(62,972)

(4,013)

(19,291)

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

1,447 1,447

1,099 1,099

348 348

1,276 1,276

94,409 94,409

100,397 100,397

(5,988) (5,988)

101,735 101,735

TOTAL REVENUES

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

- -

417 417

- -

7,100 7,100

7,004 7,004

(96) (96)

6,035 6,035

TOTAL EXPENSES

NET INCOME/LOSS

1,447

682

(69)

1,276

87,309

93,393

(5,892)

95,701

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

112

- -

(112)

- - - - -

806

(806)

313

Office Equipment Office Supplies

- - - - - - -

- -

300 300

673

Printing

317

253

1,468

1,215

Contract Services Safety Supplies Proximity Cards Transponders Uniforms Expense

- - - -

- -

183,660

1,500 2,400

1,500

346

- -

10,439

(8,039)

11,011

4,133 5,088

10,000

5,868 3,312

8,918 1,275

480

700

220

376

8,400

Wages

26,740

25,202 10,232 36,476

(1,538)

24,337

327,689 107,687 456,095

300,300 122,784 447,452

(27,389) 15,097 (8,643)

170,294 48,561 425,051

Payroll Taxes & Emp Benefits

9,728

504

7,721

TOTAL EXPENSES

37,060

(584)

32,472

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

14,643 31,530

14,880 26,539

237

14,336 25,652

176,331 294,848 76,987

177,258 304,520 96,138

927

181,821 290,760 91,806

Electricty

(4,991)

9,672

Natural Gas

2,001

2,926

925 142

6,032

19,151

Gasoline

342

484

5,115

5,808

693

5,145

Telephones

3,518 6,003

4,631 2,491 1,059

1,113

4,103 3,994

44,874 48,721 22,421 149,797 35,469 854,564

55,572 44,082 18,507 164,378 56,307 922,570

10,698 (4,639) (3,914) 14,581 20,838 68,006

37,105 40,591 19,912 141,261 28,202 836,602

Waste Mgmt. Refuse Collection Riverside Country Dump Fees

(3,512)

808

251

141

Water Sewer

11,893

15,427

3,534

4,376

2,300

3,090

790

(1,630) 57,053

TOTAL EXPENSES

73,037

71,527

(1,510)

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

962

670

License/Permits Pools/Spas

7,714

Office Supplies Safety Supplies

- -

886

600

(286)

Uniforms

(58)

2,719

3,504

785

1,867

Housekeeping Supplies

2,338 1,529

525 700

(1,813)

350 254

38,101 11,479

30,994 11,922

(7,107)

32,457 10,441

Pool Supplies

(829)

443

Recreation Supplies

- -

Tennis Supplies

100

100 170

1,200

1,200 2,385 2,005 4,233 4,714

Pest Control

830

1,000 5,649 4,371

345

9,615

12,000 137,300 52,452 258,782

10,305 132,199 41,679 237,363

Wages

7,161 3,511

(1,512)

5,810 2,462 9,221

135,295 48,219 254,068

Payroll Taxes & Emp Benefits

860

TOTAL EXPENSES

15,428

12,403

(3,025)

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

- -

- - -

- -

1,856

1,800

1,856

Operating Supplies Contract Services

109,830

105,830

1,294,954

1,293,960

(994)

1,245,960

Irrigation Grounds & Golf

2,283

2,000

(283)

2,181

16,476 39,629

24,000 40,000

7,524

16,716 40,001

Tree Trimming

- - - -

- - -

371

Outside Wall Clean Up Plants/Shrub/Trees

2,000

- -

2,000

- -

200

Annual Flowers R&M Comm Area

282 375

37,113

32,200 12,096

(4,913)

30,969 15,862

1,808

1,008

(800)

9,590

2,506

Payroll Taxes & Emp Benefits

(15)

TOTAL EXPENSES

113,921

114,838

917

108,668

1,399,633

1,406,056

6,535

1,351,626

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

120

125

291

1,500

1,209

103

4,865

(4,782)

10,566

996

(9,570)

1,308 6,471 7,676

Uniforms

636 821 503

755 584

119

566 217 269

7,086 3,255

9,060 7,008

1,974 3,753 6,209

R&M Administrative Building

(237)

R&M Lots

1,368 1,834 1,000

865

10,207 31,733

16,416 24,304 20,724 17,046

13,429 44,777 20,520 19,499

R&M Club Houses

7,172

(5,338)

(7,429) 13,665 (7,895) (1,028)

R&M Satellites

1,000

7,059

R&M Swimming Pools R&M Tennis Courts

2,679

350 250 167 100

(2,329)

2,156

24,941

250

4,628 1,764 2,703

3,600 2,004 3,200

6,370 2,361 1,983

R&M Recreation Equipment

1,264

(1,097)

1,486

240 497

R&M Wells & Pumps

533

(433)

R&M Lakes R&M Streets

2,288

2,707

419 666 333

2,222

37,589

32,082

(5,507) (5,167)

28,548

- - - -

666 333

9,607

4,440 3,996

4,143 1,132

R&M Maintenance Building

459

645

3,351

R&M Golf

- - -

996

288

R&M Convenience Store

224

(224)

R&M Restaurant

402

292

(110)

5,379

3,504

(1,875)

4,340

Contracted Pool Service Maintenance Supplies

480 241

56,967

1,891

833 245

(1,058)

11,153

9,996 5,495

(1,157)

7,641 3,916

Tools

245

1,342

5,844

(349)

Wages

30,723

32,069 10,591 54,445

1,346 1,595

26,123

373,461 124,506 673,309

396,788 127,092 690,907

23,327

319,447 94,903 646,447

Payroll Taxes & Emp Benefits

8,996

7,511

2,586

TOTAL EXPENSES

62,772

(8,327)

43,144

17,598

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

- -

257

165

Office Supplies

Uniforms

175 735

120 722

(55) (13)

175

1,855 2,938

1,440 4,808

(415)

1,548 1,580

DMV Fees/Licenses & Permits

- -

1,870

Equipment Maintenance

(60)

Shop Supplies

175

445 208 700 500

270 208 700

140

5,245

5,340 2,496 8,400 6,000

2,661

Tools

- -

226

2,270 3,927

Maintenance Golf Carts Maintenance Autos/Trucks

(89)

4,473

8,111 7,477

1,900 2,941

(1,400)

11,142 38,801

(5,142)

Wages

3,183

242

2,608

38,196

(605)

36,128

Payroll Taxes & Emp Benefits

384

483

99 79

408

5,543

5,796

253

5,099

TOTAL EXPENSES

6,310

6,389

3,326

70,376

72,733

2,357

62,714

OUTDOOR RESORT PALM SPRINGS OWNERS ASSOC OPERATING BALANCE SHEET

Jun-20

Jun-19

CURRENT YEAR LAST YEAR

ASSETS

CASH

Petty Cash

2,946

2,800

Pacific Western - Operating - CD (Working Capital)

250,000 61,137 61,535 689,136

250,000 19,831 456,519 689,136

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

1,064,755

1,418,286

RECEIVABLES Assessment Receivables

(19,052) 178,691 223,662

7,368

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

32,561 178,910

A/R Guest Ledger

(121)

258

A/R Vendini CC Activities

A/R Leased Outlets

(850)

(650)

382,330

218,448

OTHER CURRENT ASSETS Prepaid Insurance Other Prepaid Expenses Prepaid Worker's Comp Land Available For Sale

(0)

12,648

18,679

- -

0 0

Inventories

12,369

3,300

25,017

21,979

TOTAL CURRENT ASSETS

1,472,102

1,658,712

OTHER ASSETS Deposits

7,167

7,167 7,167

7,167

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

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

237,340

TOTAL ASSETS

1,716,608

1,903,220

6/30/2020

6/30/2019

LIABILITIES

CURRENT YEAR LAST YEAR

CURRENT LIABILITIES Accounts Payable Accounts Payable Accrual's

(2,429) 35,713 18,518 38,654

15,561

8,767

Utilities Accruals Payroll Accrual

18,518 23,725

Worker's Comp Accrual

7,167 7,384

(460)

Sales Tax Payable

258

Use Tax

(26,028) (4,701)

Occupancy Tax

(2,132)

Capital Lease Payable

Employee Appreciation Day Fund

(242)

(342)

Deferred Revenue Café Gratuities Payable Accrued Vacation Prepaid Assessments

- -

(25)

42,538 163,713

34,156 211,081

Prepaid Activities ORPS Events Prepaid Bar Entertainment

- - -

- -

280,277

309,132

OTHER LIABILITIES Deposits

3,450 5,941

3,350 5,941

Tennis Holding

Resorters Chorus Holding Fitness Center Holding

558

852

6,589

6,618

Computer Club

Pickle Ball Holding

5,348

6,909

ERT Holding

355

Big Star Holding

5,297 5,838

6,485 5,369

Stitch & Bees Quilt

Golf Holding

(99)

(2,374)

ORPS Golf Club

8,790

6,129

- 42,069

39,634

TOTAL OPERATING FUND LIABILITIES

322,345

348,766

OPERATING FUND BALANCE Operating Fund Balance Beginning Operating Fund BalanceTransfers

1,473,232

1,413,876

81,222

(53,407) (160,190) 1,340,857

(53,407)

Operating Fund Income(Loss)YTD

59,357

1,501,047

TOTAL LIABILITIES AND FUND BALANCE

1,716,608

1,903,220

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

ASSETS

OPERATING FUND RESERVE FUND

CAPITAL FUND

TOTALS

Cash

125,618 939,136 (19,052)

1,099,516 2,754,703

144,334

1,369,469 3,693,840

Certificates of deposit Assessments receivable

(19,052)

Other receivables

(971)

Inventories

12,369 12,648 178,691 223,662

12,369 18,559 176,092

Prepaid expenses

5,910

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

(2,599)

(223,662)

Other assets

7,167

Property and equipment, net

237,340

- - - -

237,340

- - -

1,716,609

3,857,531

(79,327)

5,494,813

LIABILITIES Accounts payable and accrued expenses

54,499 163,713 88,093 16,041 322,345

Prepaid assessments

Accrued wages and salaries payable

- - -

Deposits and other liabilities

- -

FUND BALANCES

Fund balance beginning

1,554,454 (53,407) (160,190) 1,340,857

3,264,779

(122,004)

4,697,229

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

592,754

42,676

475,240

3,857,531

(79,328)

5,119,060

1,716,609

3,857,531

(79,327)

5,494,813

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

Interest Income Fees & Permits Rental & Other

18,407

18,419

550

- - - - - - - -

550

12,003

Front Office

1,755

Activities

- -

- - - -

Bar

Oracle

Golf

Laundry

1,447

TOTAL REVENUES

378,442

126,364

7,290

512,095

Expenses Admin Front Office

58,100

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

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

58,100

2,108

Security Mailroom Activities

37,060

378

(130) (527)

Bar Golf

Facilities Laundry Grounds

15,428

113,921

Vehicle Maint

6,310

Maint

62,772 73,037

Utilities

Contingency

- - - -

Other Expenses/Bank Fee

Federal Income Tax

TD Ameritrade Apprec/Deprec Replacement Fund Expenditures

592,754 592,754

570 570

593,324 961,781

TOTAL EXPENSES

368,457

Net Income/(Loss)

9,985

(466,391)

6,720

(449,686)

OUTDOOR RESORT PALM SPRINGS OWNERS ASSOCIATION

OPERATING FUND P & L COMMENTS JUNE 2020

REVENUES

BUDGET: ACTUAL:

$ $ $

369,718 378,442

VARIANCE:

(8,724)

Lot revenues came under budget due to fee's and permits being effected by COVID. Rental, sales and commisions are 10k above budget due to quarterly payment received. Front Office administrative fee was under buget due to fewer rental nights due to COVID. Laundry revenue came over budget due to more people in the resort due to COVID travel limitations. Revenues overall came over budget $8.7K mostly due to the quarterly payment received from rentals and commisions.

EXPENSES:

BUDGET: ACTUAL:

$ $ $

371,921 368,457

VARIANCE:

3,464

Front Office and Administration both came in slightly under budget. Contributing factors to Administrative below budget expenses were computers, copier service, postage, printing, and wages. Factors that contributed to lowers Front Office expense were wages. We recieved tax credits due to COVID pay. Security was slightly over budget due to over time and payroll taxes and benefits. Mailroom was significantly under budget by $4k due to scheduling and COVID tax credits. Mailroom staff was reduced to one mail clerk per day except Mondays. Activites has credit's due to stale dated checks that were not cashed. Bar has a credit due to manual check errors that were found during payroll reconcilation. Facilities expense was over budget due to the purchase of janitorial supplies. Maintenance was significantly over budget due to the purchase of plexiglass due to COVID and AED maintenance expense. Flooring deposits, new flooring in Lifestyles office, and carpet cleaning for clubhouses put expenses over budget. Pool supplies were over budget due to purchase of salt. Recreation equipment also contributed to the overage for repair to exercise equipment. Maintenance supplies were also

NET INCOME for the month:

$ $ $

9,985

BUDGET NET INCOME for the month:

(2,203) 12,188

VARIANCE:

YEAR TO DATE NET INCOME:

(160,190) (146,944) (13,246)

BUDGET YEAR TO DATE NET INCOME:

VARIANCE:

Rental Administration fee was

1,755.00

which equals

117 rental nights for June 2020

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.

6/30/2020 6/30/2019

Current Assets Cash

125,618 382,330 25,017

479,150 218,448 21,979

Receivables

Other Current Assets

Total

532,966

719,577

Current Liabilities

Accounts Payable

54,474 88,117 163,713

40,972 57,079 211,081

Accruals (payroll items)

Owners Assessments prepaid

Capital Lease Payable Other Current Liabilities

42,069

39,634

Total

348,373

348,766

Working Capital

184,593

370,811

2% of Operating Budget 4% of Operating Budget

102,084 204,168

100,068 200,136

Funded amount of operating budget 06/30/20

3.78% 7.60%

OUTDOOR RESORT PALM SPRINGS OWNER'S ASSOCIATION CAPITAL BALANCE SHEET

CURRENT YEAR PREVIOUS YEAR

ASSETS

06/30/20

06/30/19

CASH Cash Account - Union Bank

144,334

56,907

Prepaid Expenses

144,334

56,907

RECEIVABLES

TOTAL ASSETS

144,334

56,907

LIABILITIES

06/30/20

06/30/19

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

42,676

(145,238) (122,004)

(79,327)

TOTAL LIABILITIES AND FUND BALANCE

144,334

56,907

OUTDOOR RESORT PALM SPRINGS OWNERS ASSOCATION CAPITAL FUND REVENUES & EXPENSES

6/30/2020

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

87,336

Interest Income

TOTAL

7,282

7,283

7,284

7,286

7,287

7,286

7,288

7,290

87,428

TOTAL REVENUES

7,282

7,283

7,284

7,286

7,287

7,286

7,288

7,290

87,428

- -

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)

7,288

7,290

42,676

OUTDOOR RESORT PALM SPRINGS OWNER'S ASSOCIATION RESERVE BALANCE SHEET

CURRENT YEAR LAST YEAR

ASSETS

06/30/20

06/30/19

CASH Checking Account - First Foundation Bank

1,099,516

585,998 264,611 158,679

Investment Account - Union Bank

266,753 158,679

Investment Account - Bank of Southern California

Investment Account - Morgan Stanley

2,329,270 3,854,220

2,273,169 3,282,458

RECEIVABLES

Interest Receivable

0 0

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

2,219

3,600 2,310 5,910

(3,921) (1,557) (3,259)

TOTAL ASSETS

3,860,131

3,279,199

LIABILITIES

06/30/20

06/30/19

CURRENT LIABILITIES Due to Operations Fund Income Taxes Payable

2,599

14,419

2,599

14,419

TOTAL RESERVE FUND LIABILITIES

2,599

14,419

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

3,264,779

2,910,762

592,754

354,017

3,857,534

3,264,779

TOTAL LIABILITIES AND FUND BALANCE

3,860,131

3,279,199

OUTDOOR RESORT PALM SPRINGS OWNERS ASSOCATION RESERVE FUND REVENUES & EXPENSES

6/30/2020

$89 July August

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

REVENUES ======================= Reserve Fund Allocations

107,957

107,957 19,165 127,122

107,957

271,957

107,957 18,407 126,364

1,459,484

Interest Income

1,097

3,642

2,997

3,329

2,938

3,865

2,708

2,375

1,865

1,836

64,224

TOTAL

109,054

111,599

110,954

111,286

110,895

111,822

110,665

110,332

109,822

273,793

1,523,708 - 1,523,708 -

TOTAL REVENUES

109,054

111,599

110,954

111,286

110,895

127,122

111,822

110,665

110,332

109,822

273,793

126,364

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

5,270

10,260

732,482 198,456

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

5,270

10,260

930,954 - 930,954 - 592,754

Total Expenses

149,140

95,039

128,824

216,256

102,583

104,269

56,739

28,893

12,409

21,271

5,270

10,260

Net Income (Loss)

(40,086)

16,560

(17,870)

(104,970)

8,312

22,852

55,082

81,772

97,924

88,551

268,523

116,104

Jun-20 Actual vs Budget

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

Total

Variance

Revenue Assessment

Actual/Budget

Budget

362,687

362,687 362,687

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

325

550

26,084 103,364 306,368 99,267 63,395

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

(3,948) 39,434 (13,267) (56,267) (4,980)

12,708

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

17,352 61,726 13,966

5,564 -3,853

1,395 3,485

12,003

Front Office/Admin Fee

2,628

12,858

36,640 21,485 12,414

37,786 13,251

66,747 24,755 15,343

1,755

Activities Direct

- - - -

Bar

8,655

7,341

Store

Golf

1,538

11,588

5,714

4,645

3,822

27,307 84,207

14,042 100,397

13,265

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

2,548

1,447

(16,190) (41,954)

Total Revenue Expenses Front Office Activities Direct

380,636

369,818

371,518

389,359

448,768

369,261 370,440

378,442

5,062,235

5,104,189

8,487

13,699 12,824

(7,220) (43,185)

16,672 7,939 10,153

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

2,108

139,888 147,108 60,818 104,003

117 455

7,276 11,895

8,762 21,919 11,055

(213) (527)

Bar

3,579

62,905

4,777

1,957

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

(245)

67,682

Store

876

(876) (951)

0 0

Golf

(481)

657

77,014

4,117 1,122

18,509 14,124 16,557

6,294 15,075

1,210

76,063

Laundry

3,701

542

295

481

479

7,004

7,099

Admin

56,274 32,247

68,416 88,747 35,176 59,448

123,050

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

58,100 37,060

979,394 856,344 456,096 446,284

Security Mailroom

9,812

1,241

3,105

4,172

46,207

(7,573) (10,019) (6,521) (6,421) (2,357) (17,599) (67,861)

1,449 1,519

2,434

4,835 4,415

6,506

4,838

3,742

378

38,634

Activites Non Direct

107

13,538 10,006 15,050 21,432

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

139,203 149,222 254,211 260,732 1,399,635 1,406,056

Facilities Grounds

11,150 147,230

15,428

111,911 115,210 113,921

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

Vehicle Maint

6,101

5,362

6,514

72,733

6,425 5,453

4,794

7,528 4,240

4,828

6,434

6,386

6,310

70,376

Maint

52,614 77,468

57,798 73,536 55,981 66,265

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

62,772 73,037

673,308 690,907 854,709 922,570

Utilities

Contigency

Total Expenses

392,438

382,536

381,791

432,571

452,728

518,764

533,190

458,490

454,107

383,483

458,561

368,457

5,217,116

5,249,965

(32,849)

Net Income/(Loss)

(11,802)

(12,718)

(10,272)

(43,212)

9,291

(69,995)

(28,917)

75,593

29,512

(14,222)

(88,121)

9,985

(154,881)

(145,776)

(9,105)

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