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Directors Report 9.21.20

Directors Report

Board Meeting

September 21 , 2020

1 of 68

MEETING OF THE BOARD OF DIRECTORS THURSDAY, SEPTEMBER 21, 2020 VIRTUAL (Webinar/Phone) AGENDA EXECUTIVE SESSION – 10 A.M. PT Video Conference

CALL TO ORDER A. Minutes Approval – September 9, 2020 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. Financial Statement – August 31, 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. Board Meeting – August 13, 2020 B. 2019/20 Audit Review & Acceptance

VIII. UNFINISHED BUSINESS A. Board Vacancy Appointment Action IX. NEW BUSINESS

A. RV Cover Rules – COVID Related Examination of Options Regarding Lifting November 15 Deadline B. Espresso Bar Contract 1. Termination/Compensation 2. Award C. ES Kitchen Use Limitation – COVID Related Possible Closure to Casual/Recreational Use

DISCUSSION A. COVID-19 Impact on Season Preparedness Report from Lifestyle Director

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

September 21 , 2020 Presidents Report

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

September 21 , 2020 Treasurer’s Report & Ratification A. Financial Statement - August 31, 2020

OUTDOOR RESORT - PALM SPRINGS Operating Balance Sheet Aug-20

GL Number

Current Month

Last Year

ASSETS

CASH

1002,1003-000

Petty Cash

2,946

2,800

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)

18,004 46,516 697,772

19,831

1016,1216-000

340,509 689,136

1018-000

Total Operating Cash

765,238

1,302,276

RECEIVABLES

1205-000 1208-000 1209-000 1210-000 1230-000 1215-000 1213-000 1211-000 1212-000 1214-000

Assessment Receivables

22,108

13,999

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

182,148 252,938

100,333 183,294

A/R Guest Ledger

(1,173)

A/R Vendini CC Activities A/R Leased Outlets A/R - House Accounts AR- Developement Fund

(850)

(550)

- - -

A/R Transfer Balance Zero Acct.

Total Accounts Receivable

455,170

297,084

OTHER CURRENT ASSETS

1305-000 1320-000 1325-000 1350-000 1470-000 1471-000 1473-000 1490-000

Prepaid Insurance

83,125 16,435

82,020 13,073

Other Prepaid Expenses Prepaid Worker's Comp

- -

Land Available For Sale

Bar Inventory Store Inventory

7,011

3,217

Bar Happy Hour Food Inventory Golf Merchandise Inventory

256 330

TOTAL CURRENT ASSETS

107,156

98,393

OTHER ASSETS

1475-000 1480-000

Liquor License

8,812

7,823

Recycling Deposit

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

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

Lake & Irrigation Equipment

158,547 102,103 118,007

158,547 118,002 118,007

Office Equipment

Other

Store Equipment & Fixtures

10,115

Accumulated Depreciation

(1,562,868)

(1,525,598)

PROPERTY AND EQUIP, NET

347,235

237,340

TOTAL ASSETS

1,684,111

1,943,417

OUTDOOR RESORT - PALM SPRINGS Operating Balance Sheet Aug-20

GL Number

Current Month

Last Year

LIABILITIES

CURRENT LIABILITIES

2010-000 2011-000 2013-000

Accounts Payable

(2,557) 28,638 45,908 46,668

14,982 68,392 18,518 45,022 (4,673)

Accounts Payable Accrual's

Utilities Accruals Payroll Accrual

2012,2059,2062-000

2015-000 2016-000 2018-000 2019-000 2020-000 2063-000 2021-000 2030-000 2064-000 2100-000

Worker's Comp Accrual

5,936

Sales Tax Payable

687

Use Tax

Occupancy Tax

(4,667)

(2,098)

Capital Lease Payable

Employee Appreciation Day Fund

(242)

(342)

Deferred Revenue Café Gratuities Payable Accrued Vacation Prepaid Assessments

- -

(25)

32,694 194,614

30,969 205,612

2102,2014-000

Prepaid Activities ORPS Events

- -

2104-000

Prepaid Bar Entertainment

Total Current Liabilities

347,669

376,409

OTHER LIABILITIES Sec Deposit Beauty Shop Sec Deposit Restaurant

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

1,000

Sec Deposit Store Tennis Key Deposit Cable Box Deposit

500

500 900 600

1,000

550

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

Big Star Holding

5,297 5,838

3,775 5,369

Stitch & Bees Quilt

Golf Holding

(2,374)

ORPS Golf Club

8,691

6,129

Total Other Liabilities

42,168

37,073

TOTAL OPERATING FUND LIABILITIES

389,837

413,482

OPERATING FUND BALANCE 2725-000,2600-000 Operating Fund Balance Beginning

1,338,014

805,258 643,455 81,222

2726-000 2600-000

Operating Fund BalanceTransfers Operating Fund Income(Loss)YTD

(43,740)

Total

1,294,274

1,529,935

TOTAL LIABILITIES AND FUND BALANCE

1,684,111

1,943,417

OUTDOOR RESORT - PALM SPRINGS Operating Summary Income Statement Aug-20

Budget to Date

Current Month

Budget

Variance

Last year this month YTD

Variance

Revenue Administration Resort Services

402,235

397,837

4,398

365,277

792,431 16,296

795,650 18,164

(3,219) (1,868)

5,038

9,193

(4,155)

4,541

Lifestyles

- - -

Bar

Golf

Total Revenues

407,273

407,030

243

369,818

808,727

813,814

(5,087)

Budget to Date

Current Month

Budget

Variance

Last year this month YTD

Variance

Expenses Administration Resort Services

76,952 21,735

85,251 21,350

(8,299)

74,595 25,439

141,387 30,213

151,833 34,712

(10,446) (4,499) (2,618)

385 209

Lifestyles

322

113

(484)

(2,393)

225

Bar

- -

Golf

(1,796)

Grounds & Greens

113,929 36,841

112,580 36,510

1,349

108,727 20,352

267,795 75,466

265,160 74,755

2,635

Security Mailroom Facilities

331

711

1,698

3,549

(1,851)

1,449 9,517

3,357

7,178

(3,821)

13,548 65,234

11,703 59,552

1,845 5,682

24,904 111,173

23,488 120,154 12,602 136,249 826,356

1,416

Maintenance & Repair Vehicles Maintenance

55,720

(8,981) (3,799) 57,298 26,112

4,602

6,816

(2,214) 30,601

6,778

8,803

Utilities

103,989 438,857

73,388

80,441

193,547 852,468

Total Expenses

410,812

28,045

382,536

Net Income/Loss

(31,584)

(3,782)

28,288

(12,718)

(43,740)

(12,542)

21,025

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Aug-20

GL Number

Description

Current Month

Budget Variance This Year to Date Budget to Date Variance

INCOME

ADMINISTRATION

393,560

787,120

3100-100 Assessments

1,236

(1,236)

2,472

(2,472)

3106-100 Late Fees/Interest/NSF

(38)

(76)

3107-100 Special Individual Assessments

800

1,083

(283)

1,400

2,166

(766)

3109-100 Transfer Fees

310

625

(315)

620

1,250

(630)

3111-100 Escrow Demand Fee

200

175

300

250

3119-100 Permit Fee

208

(158)

416

(341)

3151-175 Key Replacement

(50)

425

100

325

3110-125 Vendor Fees

1,200

987

213

2,291

2,000

291

3160-850 Laundry

200

3144-100 Other Income

5,890

3148-100 Interest - Operating Account

402,235

397,837

4,398

792,431

795,650

(3,219)

Total Administration Income

EXPENSE

ADMINISTRATION

11,750

12,500

(750)

13,750

12,500

1,250

4100-100 Audit /Tax Returns

181

484

4109-100 Bank Fees

1,347

(1,303)

9,351

2,694

6,657

4226-100 Board Expenses

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Aug-20

GL Number

Description

Current Month

Budget Variance This Year to Date Budget to Date Variance

(88)

194

688

(494)

4365-300 Credit Card

6,137

9,800

(3,663)

13,490

15,454

(1,964)

4115-100 Computer

1,206

323

1,529

2,412

(883)

4125-100 First Aid

1,529

369

(117)

484

385

4127-100 Dues & Subscriptions

252

(89)

143

121

4148-100

Permits

8,282

203

16,970

16,564

406

4139-100 Insurance

8,485

1,546

(762)

1,458

2,490

(1,032)

4142-100 Copier Service

784

967

591

2,550

1,698

852

4145-100 Legal Fees

1,558

457

(168)

533

914

(381)

4151-100 Meals & Entertainment

289

183

(183)

366

(351)

4154-100 Mileage & Travel

(34)

135

178

(43)

4159-100 Office Equipment

439

(111)

1,124

1,015

109

4161-100 Supplies

328

981

2,086

1,925

161

4166-100

Payroll Services

1,051

4,279

(664)

6,374

7,570

(1,196)

4996-100 401K - All

3,615

100

363

323

4169-100

Postage & Delivery

127

(97)

194

(194)

4172-100 Printing

100

(100)

200

(200)

4177-100 Radios

255

(220)

255

(220)

4178-100 Recruitment

292

(292)

584

(584)

4182-100 Safety /1st Aid Supplies

150

346

300

4179-100 Storage Costs

183

862

(713)

974

1,724

(750)

4187-100 Training & Education

149

213

615

426

189

4191-100 Website

300

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Aug-20

GL Number

Description

Current Month

Budget Variance This Year to Date Budget to Date Variance

878

4973-100 Bonuses

878

30,386

3,782

59,576

60,772

(1,196)

4901-100 Wages & Salaries

34,168

147

209

113

4971-100 Overtime

195

4972-100 Holiday Gifts

2,653

(188)

2,979

5,306

(2,327)

4975-100 Payroll Taxes

2,465

1,169

(354)

1,623

2,338

(715)

4990-100 Workers Comp

815

2,239

(873)

2,733

4,478

(1,745)

4995-100 Health Insurance

1,367

200

388

250

138

4997-100 Employee Substance Test

224

3,948

(3,948)

7,896

(7,896)

5100-100 Contingency Expense

Total Administration Expense

76,952

85,251

(8,299)

141,387

151,833

(10,446)

Administrative Net Income/Loss

325,283

INCOME

RESORT SERVICES

425

750

3112-100 Website Listing

(45)

(90)

3113-100 Proximity Cards

(75)

200

(200)

3114-100 Transponders

(53)

106

(106)

3130-100 Beauty Shop Rent

3132-100 Espresso Bar Rent

3142-100 Café % of Sales

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Aug-20

GL Number

Description

Current Month

Budget Variance This Year to Date Budget to Date Variance

3133-100 Store Rent

1,810

4,167

(2,357)

5,715

8,332

(2,617)

3147-100 Real Estate % of Sales

1,883

(1,822)

4,016

3,766

250

3152-100 Real Estate % of Rental

(75)

150

(150)

3154-100 Other (Oracle Advertising)

2,730

2,895

(165)

5,775

5,520

255

3550-125 Resort Fees

3155-125 Advertising

3345-125 Copies & Faxes

3145-125

Directories

5,038

9,193

(4,155)

16,296

18,164

(1,868)

Total Rental/Reimburesement Income

EXPENSE

RESORT SERVICES

8,072

7,974

8,072

7,974

4103-125 Advertising & Marketing

306

144

162

413

274

139

4150-125 Credit Card Fees

(50)

100

(100)

4184-125 Front Desk Safety Supplies

230

4142-125 Photo Copier Services

4190-125 Uniforms

(10)

4198-125 Meals & Entertainment

11,465

10,769

696

18,795

21,538

(2,743)

4905-125 Wages & Saleries

1,097

1,108

(11)

1,326

2,216

(890)

4975-125 Payroll Taxes

174

119

242

110

132

4990-125 Workers Comp

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Aug-20

GL Number

Description

Current Month

Budget Variance This Year to Date Budget to Date Variance

(14)

(52)

(80)

4971-125 Overtime

566

1,203

(637)

1,131

2,406

(1,275)

4995-125 Health Insurance

4110-125

Cash Over/Short

21,735

21,350

385

30,213

34,712

(4,499)

Total Resort Services Expense

Resort Services Net Income/Loss

(16,697)

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

LIFESTYLES

4202-200 ORPS Events

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Aug-20

GL Number

Description

Current Month

Budget Variance This Year to Date Budget to Date Variance

4260-200 Decorations

4215-200 Ice Cream Social

4267-200 Linen Expense

4142-200 Copier Costs

113

(113)

225

(150)

334

4148-200 License & Permits

334

4272-200 Movie Rentals

4161-200 Office Supplies

4278-200 Paper Goods & Kitchen Supplies

4172-200 Printing

4190-200 Uniforms

4916-200 Wages & Salaries: Activities

(470)

4922-200 Tennis Courts/Set Up/Cleaning

4971-200 Overtime

4975-200 Payroll Taxes

4990-200 Worker's Comp.

(12)

(2,333)

4995-200 Health Insurance

(12)

(2,333)

Cash Over/Short

4110-200

4206-200 Comp Coffee & Supplies

4210-200 Non-ORPS Events

4212-200 Concerts & Entertainment

4218-200 Coffee & Donuts

Total Lifestyles Expense

322

113

209

(2,393)

225

(2,618)

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Aug-20

GL Number

Description

Current Month

Budget Variance This Year to Date Budget to Date Variance

Lifestyles Net Income/Loss

(322)

INCOME

BAR

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

Total Bar Income

EXPENSE

BAR

4231-250 Bar Entertainment

4227-250 Bar Consummables

4228-250 Bar Food Cost

4230-250 Bar Supplies

4229-250 Bar Liquor

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Aug-20

GL Number

Description

Current Month

Budget Variance This Year to Date Budget to Date Variance

4918-250 Wages & Salaries/Contract Labor

4975-250 Payroll Taxes

4990-250 Worker's Comp.

4995-250 Health Insurance

Total Bar Expense

Bar Net Income/Loss

(6)

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

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Aug-20

GL Number

Description

Current Month

Budget Variance This Year to Date Budget to Date Variance

4132-400 Fore Tees Software/Maint

4172-400 Printing

4190-400 Uniforms

4600-400 Starter Shack Supplies

4610-400 Golf Merchandise

4650-400 Golf Balls

4950-400 Salaries & Wages

4975-400 Payroll Taxes

4971-400 Overtime

4990-400 Worker's Comp

4995-400 Health Insurance

(1,796)

4110-400 Cash Over/Short

Total Golf Expense

(1,796)

Golf Net Income/Loss

EXPENSE

GROUNDS & GREENS

111,830

109,830

2,000

223,660

219,660

4,000

4183-600 Contract Services

4148-600 License & Permits

896

2,000

(1,104)

1,853

4,000

(2,147)

4630-600 Irrigation Grounds & Golf

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Aug-20

GL Number

Description

Current Month

Budget Variance This Year to Date Budget to Date Variance

40,800

40,000

800

4660-600 Tree Trimming

4675-600 Flowers

1,203

750

453

1,482

1,500

(18)

4710-600 R&M Common Area

4670-600 Plants & Shrubs

113,929

112,580

1,349

267,795

265,160

2,635

Total Grounds & Greens Expense

EXPENSE

SECURITY

447

4144-150 Contract Fire Alarm

4142-150 Office Equipment

Supplies: Office

(29)

(58)

4161-150

(16)

(32)

4172-150 Printing

(41)

(82)

4184-150 Operating Supplies (including ERT)

4185-150 Proximity Cards

316

(316)

2,368

(2,368)

4186-150 Transponders

343

412

(69)

600

824

(224)

4190-150 Uniforms

29,777

25,549

4,228

52,067

51,098

969

4915-150 Wages & Salaries

(587)

416

(1,003)

2,067

832

1,235

4971-150 Overtime

1,523

2,514

(991)

8,833

5,028

3,805

4975-150 Payroll Taxes

1,397

1,807

(410)

2,675

3,614

(939)

4990-150 Worker's Comp.

4,389

5,410

(1,021)

8,778

10,819

(2,041)

4995-150 Health Insurance

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Aug-20

GL Number

Description

Current Month

Budget Variance This Year to Date Budget to Date Variance

36,841

36,510

331

75,466

74,755

711

Total Security Expense

EXPENSE

MAILROOM

(80)

4161-175 Supplies: Office

4190-175 Uniforms

1,556

3,026

(1,470)

3,050

6,052

(3,002)

4917-175 Wages & Salaries

135

506

(371)

293

1,012

(719)

4975-175 Payroll Taxes

(11)

(20)

4990-175 Worker's Comp

4971-175 Overtime

1,698

3,549

(1,851)

3,357

7,178

(3,821)

Total Mailroom Expense

EXPENSE

FACILITIES

4126-500 Holiday Decorations

4148-500 Licenses & Permits - Pools & Spas

4184-500 Supplies: Safety

4190-500 Uniforms

2,234

4500-500 Supplies: Housekeeping

523

1,711

2,630

1,041

1,589

473

4510-500 Pool Supplies: Pool

196

277

1,154

479

675

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Aug-20

GL Number

Description

Current Month

Budget Variance This Year to Date Budget to Date Variance

4530-500 Supplies: Tennis

830

4540-500 Pest Control

916

(86)

1,660

1,832

(172)

7,996

4930-500 Salaries & Wages: Housekeeping

5,788

2,208

15,098

11,576

3,522

4971-500 Overtime

623

4975-500 Payroll Taxes

1,056

(433)

457

2,112

(1,655)

347

4990-500 Worker's Comp

808

(461)

680

1,616

(936)

1,008

4995-500 Health Insurance

2,404

(1,396)

3,154

4,808

(1,655)

Total Facilities Expense

13,548

11,703

1,845

24,904

23,488

1,416

EXPENSE

MAINTENANCE & REPAIR

4142-700 Office Equipment/Copier Service

4161-700 Supplies: Office

(41)

(82)

402

4184-700 Supplies: Safety

291

111

888

582

306

608

4190-700 Uniforms

573

1,217

1,146

4757-850 Laundry Cards

481

550

(69)

4700-700 Administrative Building

416

(416)

832

(832)

(400)

4705-700 Lots (light bulbs/water repairs)

1,368

(1,768)

(400)

2,736

(3,136)

4,370

4715-700 Clubhouses

2,025

2,345

6,190

4,050

2,140

942

4720-700 Satellites (includes Guard Shack)

1,727

(785)

1,219

3,454

(2,235)

536

4725-700 Swimming Pools

200

336

1,770

900

870

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Aug-20

GL Number

Description

Current Month

Budget Variance This Year to Date Budget to Date Variance

4,324

4730-700 Tennis Courts

2,915

1,409

4,324

5,830

(1,506)

124

4733-700 R&M Recreation Equipment

167

(43)

814

334

480

518

4735-700 R&M Wells & Pumps

266

252

518

532

(15)

2,288

4740-700 R&M Lakes

2,290

(2)

4,576

4,580

(4)

4,073

4745-700 R&M Streets

707

3,366

4,073

1,414

2,659

4747-700 R&M Maintenance Building

189

(189)

430

378

4750-700 R&M Golf

(50)

100

(100)

4755-700 R&M Convience Store

4756-850 R&M Restauarant

827

(827)

1,654

(1,654)

4758-700 R&M Laundry Equipment

4759-700 Contracted Pool Service

9,782

346

4760-700 Supplies: Maintenance

833

(487)

1,756

1,666

4825-700 Small Tools

714

(706)

1,428

(1,420)

37,703

4960-700 Salaries & Wages: Maintenance & Repair

34,152

3,551

57,809

68,304

(10,495)

4971-700 Overtime

(42)

253

168

2,084

4975-700 Payroll Taxes

3,054

(970)

1,151

6,108

(4,957)

1,587

4990-700 Worker's Comp

2,211

(624)

2,949

4,422

(1,473)

5,681

4995-700 Health Insurance

4,452

1,229

11,366

8,904

2,462

Total Maintenance & Repair Expense

65,234

59,552

5,682

111,173

120,154

(8,981)

EXPENSE

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Aug-20

GL Number

Description

Current Month

Budget Variance This Year to Date Budget to Date Variance

VEHICLE MAINTENANCE

4148-800 License/Permits Vehicle/Equip

140

4190-800 Uniforms

163

(23)

280

326

(46)

4800-800 DMV Fees

730

(730)

1,097

730

367

147

4820-800 Shop Supplies

291

(144)

327

582

(255)

5025-600 Gasoline

235

421

(186)

278

542

(264)

4825-800 Tools

(16)

(32)

1,134

4830-800 R & M: Golf Carts

700

434

1,212

1,400

(188)

4835-800 R & M: Trucks

713

(643)

1,426

(1,336)

3,107

4965-800 Salaries & Wages

3,262

(155)

5,356

6,524

(1,168)

4971-800 Overtime

(8)

(385)

4975-800 Payroll Taxes

290

(675)

(170)

580

(750)

147

4990-800 Worker's Comp.

214

(67)

294

428

(134)

4810-800 Equipment Maintenance

Total Vehicle Expense

4,602

6,816

(2,214)

8,803

12,602

(3,799)

EXPENSE

UTILITIES

29,682

14,906

14,776

44,324

29,812

14,512

5000-100 Cable TV

44,891

35,742

9,149

87,799

63,185

24,614

5010-100 Electricity

840

1,032

(192)

2,009

1,944

5020-500 Natural Gas

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Aug-20

GL Number

Description

Current Month

Budget Variance This Year to Date Budget to Date Variance

4,971

4,130

841

8,549

6,402

2,147

5035-100 Telephone

1,552

2,168

(616)

1,552

6,800

(5,248)

5060-600 Refuse

416

457

(41)

694

1,005

(311)

5070-600 Dump Fees

19,193

12,687

6,506

43,677

22,569

21,108

5080-500 Water

2,445

2,266

179

4,944

4,532

412

5085-600 Sewer

103,989

73,388

30,601

193,547

136,249

57,298

Total Utilities Expense

Total Expense

438,857

410,812

28,045

852,468

826,356

26,112

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.

8/31/2020 8/31/2019

Current Assets Cash

67,466 455,170

363,140 297,084

Receivables

Other Current Assets

107,156

98,393

Total

629,792

758,617

Current Liabilities

Accounts Payable

68,008 85,056 194,614

99,820 70,976 205,612

Accruals (payroll items)

Owners Assessments prepaid

Capital Lease Payable

Other Current Liabilities

42,168

37,073

Total

389,847

413,482

Working Capital

239,945

345,135

2% of Operating Budget 4% of Operating Budget

111,483 222,967

102,084 204,168

Funded amount of operating budget 08/31/20 4.92% 7.07%

OUTDOOR RESORT - PALM SPRINGS Reserve Balance Sheet

GL Number

Current Month Last Year

ASSETS

08/31/20 08/31/19

CASH

1065-000 1070-000 1075-000 1080-000

Checking Account - First Foundation Bank

1,206,748 641,415 266,760 265,554 158,679 158,679 2,334,904 2,275,937 3,967,092 3,341,585

Investment Account - Union Bank

Investment Account - Bank of Southern California

Investment Account - Morgan Stanley

RECEIVABLES

1230-000

Interest Receivable

0 0

OTHER CURRENT ASSETS

1345-000 1350-000 1355-000

Prepaid Other

0 0 0 0

Prepaid Federal Income Tax Prepaid State Income Tax

(6,880) (3,191) (10,071)

TOTAL ASSETS

3,957,020 3,341,586

LIABILITIES

08/31/20 08/31/19

CURRENT LIABILITIES Due to Operations Fund

2240-000 2305-000

127,904 100,333 0 127,904 100,333 0

Income Taxes Payable

127,904 100,333

TOTAL RESERVE FUND LIABILITIES

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

2625-000

3,818,487 3,264,779 10,630 (23,526) 3,829,117 3,241,253

TOTAL LIABILITIES AND FUND BALANCE

3,957,020 3,341,586

OUTDOOR RESORT - PALM SPRINGS Reserve Fund Income Statement 31-Aug-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

176,168

Interest Income

1,674

1,706

3,380

TOTAL

89,758

89,790

179,548 - 179,548

TOTAL REVENUES

89,758

89,790

EXPENSES: Real Estate Improvements & Repairs

32,486 95,422

32,486 136,432

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

168,918 - 168,918 - 10,630

Total Expenses

41,010

127,908

Net Income (Loss)

48,748

(38,118)

OUTDOOR RESORT - PALM SPRINGS Development Fund Balance Sheet 31-Aug-20

GL Number

Current Month Last Year

ASSETS

08/31/20

08/31/19

CASH 1075-000 Cash Account - Union Bank

166,027 71,471 0 166,027 71,471 0

1345-000 Prepaid Expenses

RECEIVABLES

TOTAL ASSETS

166,027 71,471

LIABILITIES

08/31/20 08/31/19

CURRENT LIABILITIES 2250-000 Due to Operations Fund

252,938 183,294 252,938 183,294

252,938 183,294

TOTAL DEVELOP. FUND LIABILITIES

DEVELOP. FUND BALANCE 2630-000 Development Fund Balance Beginning

(79,327) (122,004) 10,180 (86,911) (111,824) (7,583)

Development Fund Income(Loss)YTD

TOTAL LIABILITIES

166,027 71,471

OUTDOOR RESORT - PALM SPRINGS Development Fund Income Statement 31-Aug-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

13,334

Development Fund Allocations

8,334

Interest Income

TOTAL

10,846

10,847

21,693 - 21,693

TOTAL REVENUES

10,846

10,847

EXPENSES: Real Estate Improvements & Repairs

1,000

28,276

29,276

Other Expenses

TOTAL

1,000

28,276

29,276 - 29,276 - (7,583)

Total Expenses

1,000

28,276

Net Income (Loss)

9,846

(17,429)

OUTDOOR RESORT - PALM SPRINGS Forecast

31-Aug-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

Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Actual/Budget Budget

Administration Resort Services

396,086 11,258

402,235

399,753

405,407 22,173

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

4,878,080

4,875,409

2,671

5,038

9,762

451,003 135,270 98,835 11,734

452,871 135,270 98,835 11,734

(1,868)

Lifestyles

- - -

- -

- - -

Bar

1,665

Golf

1,734

1,500

2,228

2,804

2,276

915

277

Total Revenues

407,345

407,273

409,515

429,245

515,998

484,272

552,266

572,064

532,158

439,584

416,382

408,821

5,574,922

5,574,119

803

Expenses Administration Resort Services

76,952 21,735

67,614 13,362 17,435

71,476 16,059 24,494

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

880,992 207,051 248,432 83,567 100,947

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

(10,446) (4,499) (2,619)

8,478

322

113

Lifestyles

(2,716)

- -

7,028

- -

Bar

7,294

11,753 140,280 50,618

Golf

(1,796)

10,894 116,580 49,291

(1,796)

1,451,794

Grounds & Greens

153,865 38,625

113,929 36,841

112,580 36,846

121,080 36,517

116,580 36,852

1,449,160

2,634

473,479 51,067 263,534 720,500 72,517 938,007

Security Mailroom Facilities

472,768 54,888 262,118 729,481 76,316 880,709

711

1,698

3,649

4,623

4,897

4,997

4,977

4,897

4,898

1,659

4,897

4,978

(3,821)

13,548 65,234

32,225 60,093

30,296 60,175

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

1,416

Maintenance & Repair Vehicles Maintenance

(8,981) (3,799) 57,298 26,110

4,602

6,218

6,317

6,615

6,380

6,386

5,906

5,925

6,794

4,201

7,052

6,121

Utilities

89,558

81,482

71,781

103,989 438,856

75,712

74,517

70,013

74,884

87,589

73,026

69,323

66,133

Total Expenses

413,610

425,734

497,636

468,861

502,189

503,849

487,470

496,250

462,443

405,500

389,489

5,491,887

5,465,777

Net Income/(Loss)

(6,266)

(31,584)

(16,219)

(68,391)

47,137

(17,917)

48,417

84,594

35,908

(22,859)

10,882

19,332

83,035

108,342

(25,308)

Outdoor Resort – Palm Springs Income Statement Comments August 31, 2020

Revenue: Administrative revenues came in over budget due to permit fees, laundry, other income and interest received from WC CD. Resort Services real estate % of rentals/sales was under budget as quarterly payments will be received at the end of September. Overall Resort Services was under budget by $4.1k.

Expense: Administrative came under budget by $8.2k due to board expense, computers, copier service, training and education all being under budget. Resort Services was slightly over budget due to advertising, credit card fees. Grounds and Greens were over budget due to Vintage landscape contract and repair and maintenance for R&M common area. Mailroom is significantly under budget due to only having one staff member scheduled each day rather than multiple which was done in the past. Security was slightly over budget, salary and wages were higher than anticipated due to fire on property. Facilities was over budget due to janitorial and pool supplies and having one additional housekeeper on staff that was not budgeted for. Maintenance and repair were over budget due to sanitizing ice makers, maintenance for all refrigeration, tennis court repair and street name signs. Vehicle maintenance was within budget for the month of August. When contacting Time Warner, we are consistently told we are up to date when in fact we are a month behind, which was found during the audit. I instructed Liz, to double payment to get us up to date. Electricity was significantly higher due to it being the hottest August recorded putting Utilities significantly over budget by $30.6k. Water was over budget by $6.5k, upon review transactional total for August 2019 $19,938.87 which is slightly higher than 2020 August transactional total.

Kristine Gonzalez Controller