Directors Report
Board Meeting
November 16 , 2020
November 16 , 2020 Presidents Report
A. Opening Remarks B. Approval of Agenda C. Executive Session Actions
November 16 , 2020 Treasurer’s Report & Ratification A. Financial Statement - October 3 1 , 2020
OUTDOOR RESORT - PALM SPRINGS Operating Balance Sheet Oct-20
GL Number
Current Month
Last Year
ASSETS
CASH
1002,1003-000
Petty Cash
5,996
5,750
1019-000 1014-000
Pacific Western - Operating - CD (Working Capital)
-
250,000
Pacific Western - Payroll Account Pacific Western - Operating Account First Foundation - CD (Working Capital)
18,083
19,831
1016,1216-000
134,288 697,772
202,160 689,136
1018-000
Total Operating Cash
856,140
1,166,878
RECEIVABLES
1205-000 1208-000 1209-000 1210-000 1230-000 1215-000 1213-000 1211-000 1212-000 1214-000
Assessment Receivables
27,561
8,623
A/R Reserve A/R Capital A/R Clearing
(171)
219,046 203,134
271,004
-
-
A/R Guest Ledger
(5,076)
(7,534)
A/R Vendini CC Activities A/R Leased Outlets A/R - House Accounts AR- Developement Fund
-
-
(850)
(200)
- - -
- - -
A/R Transfer Balance Zero Acct.
Total Accounts Receivable
292,468
423,069
OTHER CURRENT ASSETS
1305-000 1320-000 1325-000 1350-000 1470-000 1471-000 1473-000 1490-000
Prepaid Insurance
66,155 14,173
65,616 10,661
Other Prepaid Expenses Prepaid Worker's Comp
- -
- -
Land Available For Sale
Bar Inventory Store Inventory
8,812
3,224
-
-
Bar Happy Hour Food Inventory Golf Merchandise Inventory
256 330
82
-
TOTAL CURRENT ASSETS
89,726
79,584
OTHER ASSETS
1475-000 1480-000
Liquor License
8,812
6,667
Recycling Deposit
500
500
PROPERTY AND EQUIPMENT
1501-000 1502-000 1503-000 1504-000 1506-000 1507-000 1508-000 1509-000 1510-000 1515-000 1520-000 1525-000 1530-000 1535-000 1540-000
LP Recr Equip Furn & Other ES Recr Equip Furn & Other
190,884 154,920 70,099 12,993
190,884 156,389 70,099 12,993
Pool & Spa Equipment
Tennis Equipment
Golf Course Equipment
48,597
48,597
Cafe Improvements
140,372 97,766 30,521 729,614
140,372 97,766 30,521 565,080
Security Improvements Administration Building
Vehicles
Maintenance Equipment
45,566
45,566
Lake & Irrigation Equipment
158,547 102,103 118,007
158,547 118,002 118,007
Office Equipment
Other
Store Equipment & Fixtures
10,115
10,115
Accumulated Depreciation
(1,562,868)
(1,525,598)
PROPERTY AND EQUIP, NET
347,235
237,340
TOTAL ASSETS
1,594,882
1,914,038
OUTDOOR RESORT - PALM SPRINGS Operating Balance Sheet Oct-20
GL Number
Current Month
Last Year
LIABILITIES
CURRENT LIABILITIES
2010-000 2011-000 2013-000
Accounts Payable
(1,256) 60,386 45,908 13,418 13,293
138,439 45,802 18,518
Accounts Payable Accrual's
Utilities Accruals Payroll Accrual
2012,2059,2062-000
20,528 (1,020)
2015-000 2016-000 2018-000 2019-000 2020-000 2063-000 2021-000 2030-000 2064-000 2100-000
Worker's Comp Accrual
Sales Tax Payable
816
219
Use Tax
-
-
Occupancy Tax
(4,355)
(1,020)
Capital Lease Payable
-
-
Employee Appreciation Day Fund
(242)
(342)
Deferred Revenue Café Gratuities Payable Accrued Vacation Prepaid Assessments
-
- -
(25)
33,423
35,396
167,427
142,117
2102,2014-000
Prepaid Activities ORPS Events
15
3,669
2104-000
Prepaid Bar Entertainment
-
-
Total Current Liabilities
328,808
402,304
OTHER LIABILITIES Sec Deposit Beauty Shop Sec Deposit Restaurant Sec Deposit Store Tennis Key Deposit
2165-000 2170-000 2175-000 2431-000 2432-000 2405-000 2406-000 2407-000 2408-000 2409-000 2411-000 2412-000 2415-000 2420-000 2490-000
500
500
1,000
1,000
500
500 950 850
1,100 1,100 5,941
Cable Box Deposit
Tennis Holding
5,941
Resorters Chorus Holding Fitness Center Holding
558
852
6,589
6,618
Computer Club
-
-
Pickle Ball Holding
5,348
6,909
ERT Holding
355
355
Big Star Holding
5,297 5,838
1,599 5,369
Stitch & Bees Quilt
Golf Holding
-
(2,374)
ORPS Golf Club
8,691
6,129
Total Other Liabilities
42,818
35,198
TOTAL OPERATING FUND LIABILITIES
371,627
437,502
OPERATING FUND BALANCE 2725-000,2600-000 Operating Fund Balance Beginning
1,332,224
1,473,232
2726-000 2600-000
Operating Fund BalanceTransfers Operating Fund Income(Loss)YTD
81,222
(108,969) 1,223,255
(77,918)
Total
1,476,536
TOTAL LIABILITIES AND FUND BALANCE
1,594,882
1,914,038
**Please note in reviewing the previous years numbers a discrepency was found and corrected**
OUTDOOR RESORT - PALM SPRINGS Operating Summary Income Statement Oct-20
Budget to Date
Current Month
Budget
Variance
Last year this month YTD
Variance
Revenue Administration Resort Services
402,595 13,996
405,407 22,173
(2,812) (8,177)
371,920 17,439
1,600,972
1,600,810
162
34,227
50,099
(15,872)
Lifestyles
- - -
-
-
- - -
- - -
-
-
Bar
1,665
(1,665)
1,665
(1,665)
Golf
-
-
-
-
Total Revenues
416,591
429,245
(12,654)
389,359
1,635,200
1,652,574
(17,374)
Budget to Date
Current Month
Budget
Variance
Last year this month YTD
Variance
Expenses Administration Resort Services
63,407 13,245 12,559
71,476 16,059 23,984
(8,069) (2,814) (11,425) (4,027) (3,898) 12,182 (10,155) (2,106) (2,601)
79,535 20,019 12,076
269,083 56,659 24,987
290,823 64,133 41,644
21,662
7,474
Lifestyles
16,658
Bar
3,511 7,855
7,538
1,957 4,117
3,529 6,059
7,538
4,009 5,694
Golf
11,753 140,280 50,618
11,753 518,020 162,319 15,450 86,009 240,122 25,137 286,478
Grounds & Greens
152,462 40,563
140,408 24,922
538,597 157,414
(20,577)
Security Mailroom Facilities
4,905 7,563
2,517
4,623
2,434
7,887
27,695 60,131
30,296 60,175
28,924 55,778
73,218 243,331 22,558 340,847
12,791 (3,209)
Maintenance & Repair Vehicles Maintenance
256
7,965
6,317
1,648
5,286
2,579
Utilities
74,472
74,517
(45)
57,030
(54,369)
Total Expenses
466,383
497,636
(31,252)
432,486
1,744,169
1,749,426
5,258
Net Income/Loss
(49,793)
(68,391)
(43,906)
(43,127)
(108,969)
(96,852)
(12,117)
OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Oct-20
GL Number
Description
Current Month
Budget Variance Last year this month This Year to Date Budget to Date Variance
INCOME
ADMINISTRATION
393,560
393,560
-
362,687
1,574,240
1,574,240
-
3100-100 Assessments
1,390
1,236
154
950
3,387
4,944
(1,557)
3106-100 Late Fees/Interest/NSF
-
38
(38)
-
-
152
(152)
3107-100 Special Individual Assessments
1,400
1,083
317
400
3,800
4,332
(532)
3109-100 Transfer Fees
1,390
625
765
-
2,935
2,500
435
3111-100 Escrow Demand Fee
400
575
(175)
675
875
725
150
3119-100 Permit Fee
100
208
(108)
100
175
832
(657)
3151-175 Key Replacement
150
675
(525)
245
1,195
1,225
(30)
3110-125 Vendor Fees
4,204
7,407
(3,203)
6,863
8,275
11,860
(3,585)
3160-850 Laundry
-
-
-
-
200
-
200
3144-100 Other Income
-
-
-
5,890
-
5,890
3148-100 Interest - Operating Account
402,595
405,407
(2,812)
371,920
1,600,972
1,600,810
162
Total Administration Income
EXPENSE
ADMINISTRATION
-
-
-
-
13,750
12,500
1,250
4100-100 Audit /Tax Returns
475
177
298
178
1,468
177
1,291
4109-100 Bank Fees
2,045
1,347
698
2,854
11,396
5,388
6,008
4226-100 Board Expenses
213
(213)
212
373
987
(614)
-
4365-300 Credit Card
4,760
4,435
325
5,285
25,296
23,831
1,465
4115-100 Computer
1,206
323
-
4,587
4,824
(237)
4125-100 First Aid
1,529
2,248
(2,016)
2,249
927
2,825
(1,898)
4127-100 Dues & Subscriptions
232
32
(32)
-
143
285
(142)
4148-100
Permits
-
OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Oct-20
GL Number
Description
Current Month
Budget Variance Last year this month This Year to Date Budget to Date Variance
8,283
202
8,202
33,940
33,129
811
4139-100 Insurance
8,485
1,006
(348)
801
2,804
4,965
(2,161)
4142-100 Copier Service
658
784
(415)
1,885
3,068
3,143
(75)
4145-100 Legal Fees
369
(126)
405
949
1,828
(879)
4151-100 Meals & Entertainment
331
457
183
(176)
506
38
732
(694)
4154-100 Mileage & Travel
7
78
(78)
153
180
301
(121)
4159-100 Office Equipment
-
387
310
867
2,297
1,735
562
4161-100 Supplies
697
1,471
175
1,443
5,110
4,347
763
4166-100
Payroll Services
1,646
4,121
(523)
2,730
12,967
16,191
(3,224)
4996-100 401K - All
3,598
134
747
155
1,430
841
589
4169-100
Postage & Delivery
881
35
1,200
35
1,339
1,030
309
4172-100 Printing
1,235
100
(100)
-
-
400
(400)
4177-100 Radios
-
500
(500)
500
61
755
(694)
4178-100 Recruitment
-
292
(7)
-
996
1,168
(172)
4182-100 Safety /1st Aid Supplies
285
150
18
-
729
600
129
4179-100 Storage Costs
168
862
(822)
4,342
1,014
3,448
(2,434)
4187-100 Training & Education
40
213
(363)
150
765
852
(87)
4191-100 Website
(150)
-
-
-
878
-
878
4973-100 Bonuses
-
32,196
(341)
39,232
122,513
123,354
(841)
4901-100 Wages & Salaries
31,855
57
(56)
91
222
201
21
4971-100 Overtime
1
-
-
-
-
-
-
4972-100 Holiday Gifts
-
2,653
(1,015)
2,864
7,027
10,612
(3,585)
4975-100 Payroll Taxes
1,638
1,169
51
1,416
3,658
4,676
(1,018)
4990-100 Workers Comp
1,220
2,239
(1,272)
2,257
5,514
8,956
(3,442)
4995-100 Health Insurance
967
-
-
-
2,773
-
2,773
4997-100 Employee Substance Test
-
3,948
(3,948)
-
-
15,792
(15,792)
5100-100 Contingency Expense
-
500
(66)
721
872
950
4999-100 Consulting
434
OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Oct-20
GL Number
Description
Current Month
Budget Variance Last year this month This Year to Date Budget to Date Variance
Total Administration Expense
63,407
71,476
(8,069)
79,535
269,083
290,823
(21,662)
Administrative Net Income/Loss
339,188
INCOME
RESORT SERVICES
500
-
500
350
1,450
-
1,450
3112-100 Website Listing
411
278
133
294
456
552
(96)
3113-100 Proximity Cards
1,043
1,225
(182)
1,218
1,323
1,675
(352)
3114-100 Transponders
-
53
(53)
300
-
212
(212)
3130-100 Beauty Shop Rent
-
-
-
-
-
-
-
3132-100 Espresso Bar Rent
-
500
(500)
-
-
500
(500)
3142-100 Café % of Sales
-
612
(612)
-
-
612
(612)
3133-100 Store Rent
1,680
4,167
(2,487)
1,770
7,889
16,666
(8,777)
3147-100 Real Estate % of Sales
326
1,883
(1,557)
-
4,342
7,532
(3,190)
3152-100 Real Estate % of Rental
-
600
(600)
575
-
825
(825)
3154-100 Other (Oracle Advertising)
9,915
12,855
(2,940)
12,844
18,585
21,525
(2,940)
3550-125 Resort Fees
-
-
-
-
-
-
-
3155-125 Advertising
15
-
15
74
19
-
19
3345-125 Copies & Faxes
106
-
106
14
162
-
162
3145-125
Directories
13,996
22,173
(8,177)
17,439
34,227
50,099
(15,872)
Total Rental/Reimburesement Income
EXPENSE
RESORT SERVICES
-
400
(400)
508
8,072
8,374
(302)
4103-125 Advertising & Marketing
OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Oct-20
GL Number
Description
Current Month
Budget Variance Last year this month This Year to Date Budget to Date Variance
299
130
169
-
840
534
306
4150-125 Credit Card Fees
-
75
(75)
-
-
225
(225)
4184-125 Front Desk Safety Supplies
-
-
-
-
318
-
318
4142-125 Photo Copier Services
-
595
(595)
596
-
595
(595)
4190-125 Uniforms
-
33
(33)
15
56
132
(76)
4198-125 Meals & Entertainment
10,827
12,440
(1,613)
17,782
40,319
44,747
(4,428)
4905-125 Wages & Saleries
844
1,108
(264)
542
3,147
4,432
(1,285)
4975-125 Payroll Taxes
274
55
219
71
689
220
469
4990-125 Workers Comp
-
19
(19)
-
(52)
61
(113)
4971-125 Overtime
1,000
1,204
(204)
505
3,271
4,813
(1,542)
4995-125 Health Insurance
-
-
-
-
-
4110-125
Cash Over/Short
13,245
16,059
(2,814)
20,019
56,659
64,133
(7,474)
Total Resort Services Expense
Resort Services Net Income/Loss
751
INCOME
LIFESTYLES
-
-
-
-
-
-
-
3170-200 ORPS Events
-
-
-
-
-
-
-
3174-200 Saturday - Coffee/Donuts
-
-
-
-
-
-
-
3175-200 Saturday Ice Cream
-
-
-
-
-
-
-
3200-200 Non-ORPS Events
-
-
-
-
-
-
-
3284-200 Sponsorship
-
-
-
-
-
-
-
3265-200 Flea Market Contributions
-
-
-
-
-
-
-
Total Lifestyles Income
EXPENSE
OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Oct-20
GL Number
Description
Current Month
Budget Variance Last year this month This Year to Date Budget to Date Variance
LIFESTYLES
772
4202-200 ORPS Events
939
(167)
7
772
939
(167)
-
4260-200 Decorations
-
-
-
-
-
-
-
4215-200 Ice Cream Social
-
-
-
-
-
-
-
4267-200 Linen Expense
-
-
-
-
-
-
-
4142-200 Copier Costs
113
(113)
131
75
451
(376)
-
4148-200 License & Permits
575
(575)
-
334
725
(391)
-
4272-200 Movie Rentals
25
(25)
-
-
25
(25)
201
4161-200 Office Supplies
214
(13)
352
409
428
(19)
-
4278-200 Paper Goods & Kitchen Supplies
142
(142)
-
65
284
(219)
-
4172-200 Printing
-
-
231
-
-
-
237
4190-200 Uniforms
214
23
-
428
428
0
8,631
4916-200 Wages & Salaries: Activities
16,134
(7,503)
9,281
21,333
27,149
(5,816)
-
4922-200 Tennis Courts/Set Up/Cleaning
-
-
-
-
-
-
-
4971-200 Overtime
129
(129)
83
-
217
(217)
719
4975-200 Payroll Taxes
1,598
(879)
1,148
1,666
3,196
(1,530)
1,366
4990-200 Worker's Comp.
521
845
846
1,635
1,042
593
633
3,380
-
(1,730)
6,760
4995-200 Health Insurance
(2,747)
(8,490)
Cash Over/Short
-
-
(5)
-
-
4110-200
-
-
-
-
-
-
-
4206-200 Comp Coffee & Supplies
-
-
-
-
-
-
-
4210-200 Non-ORPS Events
-
-
-
-
-
-
-
4212-200 Concerts & Entertainment
-
-
-
-
-
-
-
4218-200 Coffee & Donuts
Total Lifestyles Expense
12,559
23,984
(11,425)
12,076
24,987
41,644
(16,658)
Lifestyles Net Income/Loss
(12,559)
OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Oct-20
GL Number
Description
Current Month
Budget Variance Last year this month This Year to Date Budget to Date Variance
INCOME
BAR
1,665
(1,665)
-
-
1,665
(1,665)
-
3179-250 Happy Hour
-
-
-
-
-
-
-
3177-250 Food
-
-
-
-
-
-
-
3180-250 Entertainment Events
-
-
-
-
-
-
-
3184-250 Golf Scrambles
-
-
-
-
-
-
-
3182-250 Bar-FMCA Events
-
-
-
-
-
-
-
3183-250 Bar -Non ORPS Events
-
1,665
(1,665)
-
-
1,665
(1,665)
Total Bar Income
EXPENSE
BAR
300
4231-250 Bar Entertainment
400
(100)
-
300
400
(100)
-
4227-250 Bar Consummables
257
(257)
311
-
257
(257)
-
4228-250 Bar Food Cost
300
(300)
-
-
300
(300)
143
4230-250 Bar Supplies
200
(57)
-
161
200
(39)
1,441
4229-250 Bar Liquor
2,012
(571)
1,543
1,441
2,012
(571)
1,435
4918-250 Wages & Salaries/Contract Labor
2,745
(1,310)
104
1,435
2,745
(1,310)
136
4975-250 Payroll Taxes
510
(374)
-
136
510
(374)
56
4990-250 Worker's Comp.
517
(461)
-
56
517
(461)
-
4995-250 Health Insurance
597
(597)
-
-
597
(597)
Total Bar Expense
3,511
7,538
(4,027)
1,957
3,529
7,538
(4,009)
Bar Net Income/Loss
(3,511)
OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Oct-20
GL Number
Description
Current Month
Budget Variance Last year this month This Year to Date Budget to Date Variance
INCOME
GOLF
-
-
-
-
-
-
-
3400-400 Merchandise
-
-
-
-
-
-
-
3405-400 Golf Balls
-
-
-
-
-
-
-
3410-400 Club Rentals
-
-
-
-
-
-
-
3415-400 18 Holes
-
-
-
-
-
-
-
3420-400 9 Holes
-
-
-
-
-
-
-
Total Golf Income
EXPENSE
GOLF 4161-400 Office Equipment/Supllies
180
150
30
-
180
150
30
-
4132-400 Fore Tees Software/Maint
-
-
-
-
-
-
-
4172-400 Printing
250
(250)
48
-
250
(250)
-
4190-400 Uniforms
50
(50)
-
-
50
(50)
1,193
4600-400 Starter Shack Supplies
1,500
(307)
-
1,193
1,500
(307)
-
4610-400 Golf Merchandise
114
(114)
-
-
114
(114)
-
4650-400 Golf Balls
142
(142)
-
-
142
(142)
5,807
4950-400 Salaries & Wages
6,651
(844)
3,313
5,807
6,651
(844)
431
4975-400 Payroll Taxes
1,042
(611)
472
431
1,042
(611)
-
4971-400 Overtime
-
-
-
-
-
-
245
4990-400 Worker's Comp
660
(415)
285
245
660
(415)
-
4995-400 Health Insurance
1,194
(1,194)
-
(1,796)
1,194
(2,990)
-
4110-400 Cash Over/Short
-
-
-
-
-
-
OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Oct-20
GL Number
Description
Current Month
Budget Variance Last year this month This Year to Date Budget to Date Variance
Total Golf Expense
7,855
11,753
(3,898)
4,117
6,059
11,753
(5,694)
Golf Net Income/Loss
(7,855)
EXPENSE
GROUNDS & GREENS
111,830
109,830
2,000
105,830
447,320
439,320
8,000
4183-600 Contract Services
-
-
-
-
-
-
-
4148-600 License & Permits
2,251
2,000
251
1,172
7,120
8,000
(880)
4630-600 Irrigation Grounds & Golf
-
-
-
-
40,800
40,000
800
4660-600 Tree Trimming
38,382
27,700
10,682
32,831
38,382
27,700
10,682
4675-600 Flowers
-
750
(750)
575
4,976
3,000
1,976
4710-600 R&M Common Area
-
-
-
-
-
-
-
4670-600 Plants & Shrubs
152,462
140,280
12,182
140,408
538,597
518,020
20,577
Total Grounds & Greens Expense
EXPENSE
SECURITY
-
-
-
-
447
334
113
4144-150 Contract Fire Alarm
-
100
(100)
-
-
100
(100)
4142-150 Office Equipment
Supplies: Office
24
29
(5)
-
24
116
(92)
4161-150
-
16
(16)
-
-
64
(64)
4172-150 Printing
-
41
(41)
(38)
-
164
(164)
4184-150 Operating Supplies (including ERT)
416
1,331
(915)
1,631
479
1,331
(852)
4185-150 Proximity Cards
3,263
316
2,947
-
3,263
3,000
263
4186-150 Transponders
339
412
(73)
419
4,598
1,648
2,950
4190-150 Uniforms
OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Oct-20
GL Number
Description
Current Month
Budget Variance Last year this month This Year to Date Budget to Date Variance
29,597
38,325
(8,728)
13,771
107,551
114,973
(7,421)
4915-150 Wages & Salaries
(1,385)
416
(1,801)
2,515
4,306
1,664
2,642
4971-150 Overtime
2,861
2,514
347
2,771
14,148
10,056
4,092
4975-150 Payroll Taxes
1,267
1,808
(541)
1,356
5,249
7,230
(1,981)
4990-150 Worker's Comp.
4,182
5,410
(1,228)
2,497
17,349
21,639
(4,290)
4995-150 Health Insurance
40,563
50,718
(10,155)
24,922
157,414
162,319
(4,905)
Total Security Expense
EXPENSE
MAILROOM
72
80
(8)
171
72
160
(88)
4161-175 Supplies: Office
-
-
-
-
-
100
(100)
4190-175 Uniforms
2,157
4,020
(1,863)
1,961
7,020
13,098
(6,078)
4917-175 Wages & Salaries
276
506
(230)
283
763
2,024
(1,261)
4975-175 Payroll Taxes
12
17
(5)
18
32
68
(36)
4990-175 Worker's Comp
-
-
-
-
-
-
-
4971-175 Overtime
2,517
4,623
(2,106)
2,434
7,887
15,450
(7,563)
Total Mailroom Expense
EXPENSE
FACILITIES
-
4126-500 Holiday Decorations
-
-
-
-
-
-
734
4148-500 Licenses & Permits - Pools & Spas
-
734
-
9,247
7,714
1,533
-
4184-500 Supplies: Safety
-
-
-
-
-
-
1,772
4190-500 Uniforms
1,656
116
1,657
1,772
1,718
54
6,793
4500-500 Supplies: Housekeeping
7,506
(713)
7,506
10,529
11,843
(1,315)
868
4510-500 Pool Supplies: Pool
386
482
1,503
3,114
1,171
1,943
OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Oct-20
GL Number
Description
Current Month
Budget Variance Last year this month This Year to Date Budget to Date Variance
-
4530-500 Supplies: Tennis
-
-
-
-
100
(100)
-
4540-500 Pest Control
916
(916)
830
2,490
3,664
(1,174)
14,291
4930-500 Salaries & Wages: Housekeeping
15,532
(1,241)
13,705
35,601
42,640
(7,039)
(146)
4971-500 Overtime
31
(177)
(426)
323
86
237
1,101
4975-500 Payroll Taxes
1,056
45
1,616
2,133
4,224
(2,091)
765
4990-500 Worker's Comp
808
(43)
1,184
1,793
3,232
(1,439)
1,517
4995-500 Health Insurance
2,405
(888)
1,349
6,216
9,617
(3,401)
Total Facilities Expense
27,695
30,296
(2,601)
28,924
73,218
86,009
(12,791)
EXPENSE
MAINTENANCE & REPAIR
-
4142-700 Office Equipment/Copier Service
-
-
-
-
-
-
59
4161-700 Supplies: Office
41
18
-
59
164
(105)
166
4184-700 Supplies: Safety
291
(125)
909
2,129
1,164
965
381
4190-700 Uniforms
573
(192)
585
2,277
2,292
(15)
-
4757-850 Laundry Cards
1,130
(1,130)
-
481
1,680
(1,199)
288
4700-700 Administrative Building
416
(128)
-
938
1,664
(726)
-
4705-700 Lots (light bulbs/water repairs)
1,368
(1,368)
371
(800)
5,472
(6,272)
7,014
4715-700 Clubhouses
2,025
4,989
3,622
20,554
8,100
12,454
-
4720-700 Satellites (includes Guard Shack)
1,727
(1,727)
633
1,219
6,908
(5,689)
3,211
4725-700 Swimming Pools
949
2,262
2,950
6,603
2,588
4,015
86
4730-700 Tennis Courts
2,915
(2,829)
152
4,410
11,660
(7,250)
-
4733-700 R&M Recreation Equipment
167
(167)
(775)
814
668
146
-
4735-700 R&M Wells & Pumps
266
(266)
-
518
1,064
(547)
2,288
4740-700 R&M Lakes
2,290
(2)
2,222
9,152
9,160
(8)
619
4745-700 R&M Streets
300
319
422
6,189
2,422
3,767
OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Oct-20
GL Number
Description
Current Month
Budget Variance Last year this month This Year to Date Budget to Date Variance
-
4747-700 R&M Maintenance Building
189
(189)
-
430
756
(326)
-
4750-700 R&M Golf
50
(50)
-
-
200
(200)
-
4755-700 R&M Convience Store
-
-
-
-
-
-
-
4756-850 R&M Restauarant
828
(828)
464
5,971
3,310
2,661
-
4758-700 R&M Laundry Equipment
-
-
1,122
1,700
-
1,700
-
4759-700 Contracted Pool Service
-
-
-
9,782
-
9,782
1,123
4760-700 Supplies: Maintenance
833
290
715
5,844
3,332
2,512
346
4825-700 Small Tools
714
(368)
682
354
2,856
(2,502)
34,405
4960-700 Salaries & Wages: Maintenance & Repair
33,005
1,400
31,603
128,171
135,461
(7,290)
(203)
4971-700 Overtime
80
(283)
60
908
332
576
2,743
4975-700 Payroll Taxes
3,055
(312)
2,377
6,551
12,217
(5,666)
2,213
4990-700 Worker's Comp
2,211
2
2,438
6,665
8,844
(2,179)
5,392
4995-700 Health Insurance
4,452
940
5,225
22,411
17,808
4,603
Total Maintenance & Repair Expense
60,131
59,875
256
55,778
243,331
240,122
3,209
EXPENSE
VEHICLE MAINTENANCE
-
4148-800 License/Permits Vehicle/Equip
-
-
-
-
-
-
105
4190-800 Uniforms
163
(58)
175
560
652
(92)
27
4800-800 DMV Fees
-
27
-
1,124
1,062
62
1,185
4820-800 Shop Supplies
291
894
175
1,864
1,164
700
5025-600 Gasoline
321
652
(331)
492
743
1,415
(672)
-
4825-800 Tools
16
(16)
-
-
64
(64)
772
4830-800 R & M: Golf Carts
700
72
359
3,157
2,800
357
1,731
4835-800 R & M: Trucks
713
1,018
265
1,821
2,852
(1,031)
3,309
4965-800 Salaries & Wages
3,262
47
3,287
12,185
13,048
(864)
OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Oct-20
GL Number
Description
Current Month
Budget Variance Last year this month This Year to Date Budget to Date Variance
35
4971-800 Overtime
16
19
10
105
64
41
257
4975-800 Payroll Taxes
290
(33)
247
336
1,160
(824)
223
4990-800 Worker's Comp.
214
9
276
664
856
(192)
-
4810-800 Equipment Maintenance
-
-
-
-
-
-
Total Vehicle Expense
7,965
6,317
1,648
5,286
22,558
25,137
(2,579)
EXPENSE
UTILITIES
14,808
14,906
(98)
14,318
74,031
59,624
14,407
5000-100 Cable TV
30,695
23,041
7,654
23,041
158,443
123,990
34,453
5010-100 Electricity
2,208
5,190
(2,982)
2,864
4,884
8,264
(3,380)
5020-500 Natural Gas
3,269
2,865
404
3,162
15,074
12,184
2,890
5035-100 Telephone
2,731
1,263
1,468
1,263
7,014
10,226
(3,212)
5060-600 Refuse
1,141
1,785
(644)
2,077
2,771
3,811
(1,040)
5070-600 Dump Fees
16,828
23,004
(6,176)
7,740
68,450
59,118
9,332
5080-500 Water
2,792
2,463
329
2,564
10,181
9,261
920
5085-600 Sewer
74,472
74,517
(45)
57,030
340,847
286,478
54,369
Total Utilities Expense
Total Expense
466,383
497,436
(31,052)
432,486
1,744,169
1,749,426
5,258
OUTDOOR RESORT - PALM SPRINGS Reserve Balance Sheet
GL Number
Current Month Last Year
ASSETS
10/31/20 10/31/19
CASH
1065-000 1070-000 1075-000 1080-000
Checking Account - First Foundation Bank
1,142,570 629,330 266,765 266,052 158,679 158,679 2,337,346 2,280,608 3,905,360 3,334,669
Investment Account - Union Bank
Investment Account - Bank of Southern California
Investment Account - Morgan Stanley
RECEIVABLES
1230-000
Interest Receivable
0 0
0 0
OTHER CURRENT ASSETS
1345-000 1350-000 1355-000
Prepaid Other
0
0
Prepaid Federal Income Tax Prepaid State Income Tax
(6,880) (3,191) (10,071)
1,800
990
2,790
TOTAL ASSETS
3,895,288 3,337,459
LIABILITIES
10/31/20 10/31/19
CURRENT LIABILITIES Due to Operations Fund
2240-000 2305-000
18,533 219,046 0 18,533 219,046 0
Income Taxes Payable
18,533 219,046
TOTAL RESERVE FUND LIABILITIES
RESERVE FUND BALANCE Reserve Fund Balance Beginning Reserve Fund Income(Loss)YTD
2625-000
3,818,487 3,264,779 58,269 (146,367) 3,876,756 3,118,412
TOTAL LIABILITIES AND FUND BALANCE
3,895,288 3,337,459
OUTDOOR RESORT - PALM SPRINGS Reserve Fund Income Statement 31-Oct-20
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
88,084
88,084
88,084
88,084
352,336
Interest Income
1,674
1,706
1,770
1,711
6,861
TOTAL
89,758
89,790
89,854
89,795
-
-
-
-
-
-
-
-
359,197 - 359,197
TOTAL REVENUES
89,758
89,790
89,854
89,795
-
-
-
-
-
-
-
-
EXPENSES: Real Estate Improvements & Repairs
32,486 95,422
32,045 81,429
8,662 9,875
73,193 227,736
Personal Property - Equipment Other Expenses/Bank Fee
41,010
- - - - -
- - - - -
Ameritrade Appreciation/Depreciation
Ameritrade Fees
Federal Income Tax State Income Tax
TOTAL
41,010
127,908
113,474
18,537
-
-
-
-
-
-
-
-
300,929 - 300,929 - 58,269
Total Expenses
41,010
127,908
113,474
18,537
-
-
-
-
-
-
-
-
Net Income (Loss)
48,748
(38,118)
(23,620)
71,258
-
-
-
-
-
-
-
-
OUTDOOR RESORT - PALM SPRINGS Development Fund Balance Sheet 31-Oct-20
GL Number
Current Month Last Year
ASSETS
10/31/20
10/31/19
CASH 1075-000 Cash Account - Union Bank
187,725 86,038 0 187,725 86,038 0
1345-000 Prepaid Expenses
RECEIVABLES
0
0
TOTAL ASSETS
187,725 86,038
LIABILITIES
10/31/20 10/31/19
CURRENT LIABILITIES 2250-000 Due to Operations Fund
284,001 203,134 284,001 203,134
284,001 203,134
TOTAL DEVELOP. FUND LIABILITIES
DEVELOP. FUND BALANCE 2630-000 Development Fund Balance Beginning
(79,327) (122,004) 4,908 (96,278) (117,096) (16,950)
Development Fund Income(Loss)YTD
TOTAL LIABILITIES
187,725 86,038
OUTDOOR RESORT - PALM SPRINGS Development Fund Income Statement 31-Oct-20
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 Allocations
6,667 4,167
6,667 4,167
6,667 4,167
6,667 4,167
26,668 16,668
Development Fund Allocations
Interest Income
12
13
14
15
54
TOTAL
10,846
10,847
10,848
10,849
-
-
-
-
-
-
-
-
43,390 - 43,390
TOTAL REVENUES
10,846
10,847
10,848
10,849
-
-
-
-
-
-
-
-
EXPENSES: Real Estate Improvements & Repairs
1,000
28,276
31,064
- - -
60,340
Other Expenses
-
-
TOTAL
1,000
28,276
31,064
-
-
-
-
-
-
-
-
60,340 - 60,340 -
Total Expenses
1,000
28,276
31,064
-
-
-
-
-
-
-
-
-
Net Income (Loss)
9,846
(17,429)
(20,216)
10,849
-
-
-
-
-
-
-
-
(16,950)
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.
10/31/2020 10/31/2019
Current Assets Cash
158,368 292,468
227,741 423,069
Receivables
Other Current Assets
89,726
79,584
Total
540,562
730,395
Current Liabilities
Accounts Payable
101,499 59,893 167,427
201,957 54,561 142,117
Accruals (payroll items)
Owners Assessments prepaid
Capital Lease Payable
-
Other Current Liabilities
42,818
35,198
Total
371,637
433,833
Working Capital
168,926
296,561
2% of Operating Budget 4% of Operating Budget
111,483 222,967
102,084 204,168
Funded amount of operating budget 10/31/20 3.46% 6.08%
Outdoor Resort – Palm Springs Income Statement Comments October 31, 2020
Revenues Budget: $429,245 Actual: $416,591 Variance: $ (12,654)
In the month of October late fee’s, transfer fees, escrow demands came in over budgeted revenue. Resort Services proximity cards, copies and faxes came in slightly over the budgeted revenue amount. Lifestyles and Golf did not generate revenue in this month as they were not open. Bar was budgeted to have happy hour but due to COVID restrictions, was unable to operate. Expenses
Budget: $497,636 Actual: $466,383 Variance: $(31,252)
Board expenses were slightly over budget due to the Welcome back caterer. Dues and subscriptions, permits, copier service, legal fees, office equipment, 401K, radios, recruitment, training & education, insurance contributed to Administration coming well under budget by $8k. The October mailing contributed to a large overage in printing for the month. Postage was also significantly higher due to certified postage and quarterly postage. Resort Services was under budget by $2.8K due to advertising, safety supplies, uniforms, wages, taxes and insurance. Lifestyles, Golf and Bar expenses were significantly under budget due to many expenses not being used due to COVID closures and limitations. Grounds and greens had a significant overage in budget due to the expense of annual flowers. Mailroom was significantly under budget due to schedule changes and staffing adjustments. Security and Facilities were well within budget. Maintenance was slightly over budgeted expenses due to refinishing floors, final payment, tinting of windows, sink installation and replacement of spa motor. Vehicles maintenance had a slight overage due to battery purchases, gloves, drywall and flat washer. For the month of October overall utilities were within budget. A $559 difference was discovered in the YTD vs. Budget and will be corrected next month, YTD variance should be $12,676 as stated in the forecast.
Net Income for the month: $ (49,793) Budget net income for the month: $ (68,391) Variance: $ (43,906) Year to date net income: $ (108,969) Budget year to date net income: $ (96,852) Variance: $(12.117) Rental Administration fee was $9,915, which equals 661 rental nights for October 2020
OUTDOOR RESORT - PALM SPRINGS Forecast
31-Oct-20 Actual vs. Budget
Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Total
Total
Variance
Revenue
Actuals Actual
Actual 400,056
Actual 402,595 13,996
Budget Budget Budget Budget Budget Budget Budget Budget Actual/Budget
Budget
Administration Resort Services
396,086 11,258
402,235
413,708 47,456 32,075 21,025
410,296 48,173 13,403 10,900
418,079 77,816 32,945 21,198
416,840 91,632 33,821 26,967
412,519 77,257 23,026 17,080
404,964 33,705
399,673 16,432
398,520 10,301
4,875,571
4,875,409
162
5,038
3,935
436,999 135,270 97,170 11,734
452,871 135,270 98,835 11,734
(15,872)
Lifestyles
- - -
- - -
- - -
- - -
- -
- -
- - -
-
Bar
(1,665)
Golf
1,734
1,500
2,228
2,804
2,276
915
277
-
Total Revenues
407,345
407,273
403,991
416,591
515,998
484,272
552,266
572,064
532,158
439,584
416,382
408,821
5,556,744
5,574,119
(17,375)
Expenses Administration Resort Services
76,952 21,735
64,309 13,200 14,821
63,407 13,245 12,559
70,760 17,747 32,007 11,591 21,058 112,580 39,421
101,164 19,907 30,158 13,935 14,759 112,580 36,850
70,892 18,989 43,424 17,099 14,759 116,580 36,516
72,090 19,994 43,776 13,510 14,759 116,580 36,516
73,614 16,985
67,246 13,928
869,618 204,075 233,883 80,056 97,049
64,435
71,112 22,190 38,466 13,098 14,761 118,580 38,586
73,637 17,677 20,840
891,438 211,550 251,051 83,555 102,743
21,820
8,478
7,475
322
113
113
Lifestyles
(2,716)
17,168
6
6
3,511 7,855
- -
- -
Bar
6
7,294
3,499 5,694
-
-
Golf
(1,796)
10,894 116,580 49,291
1,470,576
Grounds & Greens
153,865 38,625
113,929 36,841
119,180 41,385
152,462 40,563
121,080 36,517
116,580 36,852
1,449,160
(21,416)
467,963 47,325 249,328 732,389 73,737 935,077
Security
472,768 54,888 262,118 729,481 76,316 880,709
4,805 7,563
1,698
2,013
2,517
4,897
4,997
4,977
4,897
4,897
4,898
Mailroom Facilities
1,659
4,897
4,978
13,548 65,234
20,620 72,026
27,695 60,131
23,543 58,629
27,088 59,487
26,304 60,334
24,494 61,922
11,673 65,373
13,957 62,988
11,356 45,939
26,103 59,923
22,947 60,403
12,790 (2,908)
Maintenance & Repair Vehicles Maintenance
4,602
5,790
7,965
6,615
6,380
6,386
5,906
5,925
6,794
4,201
7,052
6,121
2,579
Utilities
89,558
81,482
71,781
(54,368)
103,989 438,856
72,827
74,472
70,013
74,884
87,589
73,026
69,323
66,133
Total Expenses
413,610
426,177
466,383
468,861
502,189
503,849
487,470
496,250
462,443
405,500
389,489
5,461,077
5,465,777
4,700
Net Income/(Loss)
(6,266)
(31,584)
(22,186)
(49,793)
47,137
(17,917)
48,417
84,594
35,908
(22,859)
10,882
19,332
95,667
108,342
(12,676)
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