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
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