Directors Report 11.16.20

Directors Report 11.16.20

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)