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February 15, 2021 Directors Report - Regular Meeting

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February 15, 2021 Directors Report - Regular Meeting

Directors Report

Board Meeting

February 15 , 202 1

MEETING OF THE BOARD OF DIRECTORS MONDAY, FEBRUARY 15, 2021 VIRTUAL (Webinar/Phone) AGENDA EXECUTIVE SESSION – 10 A.M. PT Video Conference

Executive Sessions are provided by statute (Civil Code §4935) so Boards can address issues involving Privileged Information and matters of a Private Nature. As a result, Owners do not have a right to attend Executive Sessions. I.

CALL TO ORDER A. Minutes Approval B. Legal C. Contracts D. Personnel E. Member Discipline

REGULAR MEETING – 1 P.M. PT The meeting will be held via Zoom https://us02web.zoom.us/j/86484711135 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 – January 31, 2020 IV. SECRETARY’S REPORT

Page 1 of 2

GENERAL MANAGER’S REPORT A. Community Standards/A&A B. Maintenance C. Security D. Landscape

VI.

COMMITTEE REPORTS A. Planning B. Finance C. A&A

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 – January 18, 2021 2. Special Meeting – January 27, 2021 B. 2021 Committee Appointments 1. Tennis 2. A&A C. 2021 Reserve Study – Budgeted Reserve ($3,000) Consideration of Level II Study Award

VIII. UNFINISHED BUSINESS

A. Pickleball Noise Mitigation – Planning Committee Report Consideration of Future Direction B. Pickleball Survey Questions Review of Samples

IX.

NEW BUSINESS A. None

DISCUSSION A. None

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 – March 15, 2021 – 1 P.M. (PT) Virtual OR La Palma Clubhouse

February 15 , 202 1 Presidents Report

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

February 15 , 202 1 Treasurer’s Report & Ratification A. Financial Statement - January 31, 202 1

OUTDOOR RESORT - PALM SPRINGS Operating Balance Sheet Jan-21

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 33,984 171,693 689,136

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

11,372 205,750 697,772

1016,1216-000

1018-000

Total Operating Cash

920,891

1,150,563

RECEIVABLES

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

Assessment Receivables

27,635

160

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

682

170,990 212,930

281,929

A/R Guest Ledger

(14,492)

(18,514)

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

(309)

(1,333)

- - -

A/R Transfer Balance Zero Acct.

Total Accounts Receivable

295,446

364,231

OTHER CURRENT ASSETS

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

Prepaid Insurance

40,700 10,781

41,010 11,069

Other Prepaid Expenses Prepaid Worker's Comp

- -

Land Available For Sale

Bar Inventory Store Inventory

9,312

6,717

Bar Happy Hour Food Inventory Golf Merchandise Inventory

256 330

TOTAL CURRENT ASSETS

61,379

59,382

OTHER ASSETS

1475-000 1480-000

Liquor License

8,812

6,667

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 48,597 140,372 97,766 30,521 729,614 45,566 158,547 102,103 118,007 10,115

190,884 156,389 70,099 12,993 48,597 140,372 97,766 30,521 565,080 45,566 158,547 118,002 118,007 10,115

Pool & Spa Equipment

Tennis Equipment

Golf Course Equipment Cafe Improvements Security Improvements Administration Building

Vehicles

Maintenance Equipment Lake & Irrigation Equipment

Office Equipment

Other

Store Equipment & Fixtures

Accumulated Depreciation

(1,562,868)

(1,525,598)

PROPERTY AND EQUIP, NET

347,235

237,340

TOTAL ASSETS

1,634,264

1,818,684

OUTDOOR RESORT - PALM SPRINGS Operating Balance Sheet Jan-21

GL Number

Current Month

Last Year

LIABILITIES

CURRENT LIABILITIES

2010-000 2011-000 2013-000

Accounts Payable

(750)

7,067

Accounts Payable Accrual's

37,938 45,908 34,318 16,936

60,335 18,518 74,990

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

7,502 4,193

Sales Tax Payable

1,788

Use Tax

Occupancy Tax

(5,739)

597

Capital Lease Payable

Employee Appreciation Day Fund

(242)

Deferred Revenue Café Gratuities Payable Accrued Vacation Prepaid Assessments

(25)

380

79,366 185,585

40,714 172,963

2102,2014-000

Prepaid Activities ORPS Events

9,015 1,300

2104-000

Prepaid Bar Entertainment

Total Current Liabilities

395,098

397,331

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

1,850 2,150 2,585

1,750 2,800 5,941

Tennis Holding

Resorters Chorus Holding Fitness Center Holding

558

358

6,589

6,458

Computer Club

Pickle Ball Holding

4,265

7,781

ERT Holding

355

Big Star Holding

4,535 2,735

1,012 3,308

Stitch & Bees Quilt

Golf Holding

125

(2,334)

ORPS Golf Club

7,673

5,022

Total Other Liabilities

35,421

34,452

TOTAL OPERATING FUND LIABILITIES

430,518

431,783

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

(128,478)

(167,553) (53,407) 1,333,494

Operating Reserve 2017 2018 Additional Funding

Total

1,203,745

TOTAL LIABILITIES AND FUND BALANCE

1,634,264

1,818,684

OUTDOOR RESORT - PALM SPRINGS Operating Summary Income Statement Jan-21

Budget to Date

Current Month

Budget

Variance

Last year this month YTD

Variance

Revenue Administration Resort Services

413,391 46,879

418,079 77,816 32,945 21,198

(4,688) (30,937) (27,945) (21,198)

384,631 73,829 24,755 15,343

2,832,895

2,842,893

(9,998) (74,520) (62,784) (52,081)

149,024 15,639

223,544 78,423 54,788

Lifestyles

5,000

Bar

2,707 5,062

Golf

1,825

2,228

(403)

5,714

5,462

(400)

Total Revenues

467,095

552,266

(85,171)

504,273

3,005,326

3,205,110

(199,784)

Budget to Date

Current Month

Budget

Variance

Last year this month YTD

Variance

Expenses Administration Resort Services

70,224 22,719 18,349

70,892 18,989 42,914 17,609 14,759 116,580 36,516

668

119,887 13,683 33,062 19,539 16,557 112,040 47,782

496,007 114,716 73,575

533,739 120,776 145,703 51,693 62,329 859,760 275,006 30,321 162,944 418,872 44,518 518,964

37,732

(3,730) 24,565 17,568

6,060

Lifestyles

72,128 42,660 21,453

Bar

9,033

Golf

10,303 116,894 45,044

4,456

40,876 885,903 273,366 22,645 151,567 447,672 40,259 578,187

Grounds & Greens

(314)

(26,143)

Security Mailroom Facilities

(8,528)

1,640 7,676

2,855

4,977

2,122

6,506

31,670 75,545

26,304 60,334

(5,366) (15,211)

29,035 53,055

11,377

Maintenance & Repair Vehicles Maintenance

(28,800)

6,353

6,386

5,413

4,259

Utilities

76,097 476,095

87,589 503,849

11,492 27,754

76,706 533,265

(59,223)

Total Expenses

3,133,805

3,224,625

90,820

Net Income/Loss

(9,000)

48,417

(57,417)

(28,992)

(128,478)

(19,515)

(108,964)

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Jan-21

Variance Last year this month This Year to Date

Budget to Date

GL Number

Description

Current Month

Budget

Variance

INCOME

ADMINISTRATION

393,560

362,687

2,754,920

3100-100 Assessments

1,065

1,237

(172)

658

7,024

8,655

(1,631)

3106-100 Late Fees/Interest/NSF

(41)

(79)

(41)

266

(307)

3107-100 Special Individual Assessments

3,800

1,084

2,716

1,500

12,400

7,584

4,816

3109-100 Transfer Fees

3,100

625

2,475

9,750

4,375

5,375

3111-100 Escrow Demand Fee

500

1,250

(750)

1,200

2,350

3,550

(1,200)

3119-100 Permit Fee

376

209

167

100

1,251

1,459

(208)

3151-175 Key Replacement

275

100

175

2,620

2,725

(105)

3110-125 Vendor Fees

10,756

19,976

(9,220)

18,336

36,330

59,359

(23,029)

3160-850 Laundry

150

400

3144-100 Other Income

5,890

3148-100 Interest

3115-100 Fines and Suspensions

413,391

418,079

(4,688)

384,631

2,832,895

2,842,893

(9,998)

Total Administration Income

EXPENSE

ADMINISTRATION

13,750

12,500

(1,250)

4100-100 Audit /Tax Returns

476

274

(202)

416

2,880

661

(2,219)

4109-100 Bank Fees

107

1,347

1,240

6,439

13,151

9,429

(3,722)

4226-100 Board Expenses

1,887

373

4,011

3,638

4365-300 Credit Card

5,416

4,176

(1,240)

6,153

44,790

38,048

(6,742)

4115-100 Computer

1,206

(323)

4,513

9,174

8,442

(732)

4125-100 First Aid

1,529

(179)

(533)

4127-100 Dues & Subscriptions

492

313

314

4,984

4,451

1,108

4148-100

Permits

116

1,224

8,282

(203)

8,202

59,394

57,976

(1,418)

4139-100 Insurance

8,485

825

894

5,705

8,077

2,372

4142-100 Copier Service

270

1,095

772

(754)

3,472

7,115

5,263

(1,852)

4145-100 Legal Fees

1,526

381

1,656

4151-100 Meals & Entertainment

457

449

1,543

3,199

1,053

4154-100 Mileage & Travel

178

183

228 405

1,281

141

602

197

4159-100 Office Equipment

(530)

966

4,656

2,708

(1,948)

4161-100 Supplies

662

132

2,058

313

2,030

9,525

8,812

(713)

4166-100

Payroll Services

1,745

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Jan-21

Variance Last year this month This Year to Date

Budget to Date

GL Number

Description

Current Month

Budget

Variance

920

3,529

22,953

29,086

6,133

4996-100 401K - All

3,515

4,435

(934)

(1,789)

4169-100

Postage & FedEx Delivery

945

3,207

1,418

(580)

(4,093)

4172-100 Printing

682

102

1,038

5,978

1,885

100

473

700

4177-100 Radios

100

20,888

910

1,200

290

4178-100 Recruitment

267

214

4182-100 Safety /1st Aid Supplies

292 150

1,532

1,829 1,252

2,043 1,050

(18)

120

(202)

4179-100 Storage Costs

168

862

395

1,892

6,034

4,142

4187-100 Training & Education

862

1,965

1,491

(474)

4191-100 Website

150

213

14,343

21,550

7,207

4973-100 Bonuses

(5,149)

(1,994)

4901-100 Wages & Salaries

37,415

32,266

46,652

222,006

220,012

309

459

372

(87)

4971-100 Overtime

7,355

8,700

1,345

4972-100 Holiday Gifts

(667)

4,984

4975-100 Payroll Taxes

3,321

2,654 1,169

5,837

13,588

18,572

353

806

6,402

8,183

1,781

4990-100 Workers Comp

816

2,239

206

2,247

10,127

15,673

5,546

4995-100 Health Insurance

2,033

(70)

140

1,152

1,450

298

4997-100 Employee Substance Test

120

3,948

27,636

5100-100 Contingency Expense

3,948

- -

27,636

2,773

(2,773)

4999-100 Consulting

4102-100 Bad Debt Expense

(27)

4175-300 Business Tax

Total Administration Expense

70,224

70,892

668

119,887

496,007

533,739

37,732

Administrative Net Income/Loss

343,167

INCOME

RESORT SERVICES

3112-100 Website Listing

425

250

2,475

3113-100 Proximity Cards

141

325

(184)

358

1,031

1,547

(516)

3114-100 Transponders

883

975

(92)

988

3,994

5,783

(1,789)

3130-100 Beauty Shop Rent

318

(318)

300

1,166

(866)

3132-100 Espresso Bar Rent

(64)

100

190

(190)

3142-100 Café % of Sales

241

800

(559)

858

899

2,600

(1,701)

3133-100 Store Rent

500

613

(113)

500

1,500

2,449

(949)

3147-100 Real Estate % of Sales

3,993

4,167

(174)

2,587

16,584

29,167

(12,583)

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Jan-21

Variance Last year this month This Year to Date

Budget to Date

GL Number

Description

Current Month

Budget

Variance

3152-100 Real Estate % of Rental

1,884

(1,884)

4,342

13,182

(8,840)

3154-100 Other (Oracle Advertising)

375

2,250

(1,875)

900

4,265

5,175

(910)

3550-125 Resort Fees

39,825

66,420

(26,595)

66,358

112,817

162,285

(49,468)

3155-125 Advertising

3345-125 Copies & Faxes

117

242

230

3145-125

Directories

3330-300 Sundries

378

389

586

Total Rental/Reimburesement Income

46,879

77,816

(30,937)

73,829

149,024

223,544

(74,520)

EXPENSE

RESORT SERVICES

4103-125 Advertising & Marketing

8,072

8,474

402

4150-125 Credit Card Fees

1,452

2,271

819

2,438

4,401

6,066

1,665

4184-125 Front Desk Safety Supplies

150

550

4142-125 Photo Copier Services

1,100

(1,100)

1,418

878

(540)

4190-125 Uniforms

150

700

550

4198-125 Meals & Entertainment

149

231

4905-125 Wages & Saleries

16,652

14,148

(2,504)

9,157

84,508

87,191

2,683

4975-125 Payroll Taxes

1,901

1,109

(792)

1,381

7,670

7,758

4990-125 Workers Comp

203

(148)

1,343

385

(958)

4971-125 Overtime

159

(140)

301

118

(183)

4995-125 Health Insurance

1,253

1,204

(49)

566

6,706

8,425

1,719

4110-125

Cash Over/Short

Total Resort Services Expense

22,719

18,989

(3,730)

13,683

114,716

120,776

6,060

Resort Services Net Income/Loss

24,160

INCOME

LIFESTYLES

3170-200 ORPS Events

5,000

25,648

(20,648)

23,478

15,590

53,067

(37,477)

3174-200 Saturday - Coffee/Donuts

(30)

(90)

3175-200 Saturday Ice Cream

672

(672)

561

1,225

(1,225)

3200-200 Non-ORPS Events

3,595

(3,595)

622

5,041

(5,041)

3284-200 Sponsorship

3,000

(3,000)

19,000

(18,951)

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Jan-21

Variance Last year this month This Year to Date

Budget to Date

GL Number

Description

Current Month

Budget

Variance

3265-200 Flea Market Contributions

Total Lifestyles Income

5,000

32,945

(27,945)

24,755

15,639

78,423

(62,784)

EXPENSE

LIFESTYLES

4202-200 ORPS Events

18,417

18,407

8,009

2,512

31,714

29,202

4260-200 Decorations

500

276

1,500

1,224

4215-200 Ice Cream Social

275

232

338

1,100

762

4267-200 Linen Expense

200

387

199

566

367

4142-200 Copier Costs

362

1,537

1,462

4148-200 License & Permits

675

686

2,430

1,744

4272-200 Movie Rentals

102

100

4161-200 Office Supplies

171

214

201

673

1,070

397

4278-200 Paper Goods & Kitchen Supplies

143

110

226

712

486

4172-200 Printing

125

4,207

250

4190-200 Uniforms

214

428

1,070

642

4916-200 Wages & Salaries: Activities

14,845

16,134

1,289

14,190

57,202

75,551

18,349

4922-200 Tennis Courts/Set Up/Cleaning

(627)

627

4971-200 Overtime

129

126

879

142

604

462

4975-200 Payroll Taxes

2,071

1,598

(473)

3,251

6,020

7,990

1,970

4990-200 Worker's Comp.

616

521

(95)

440

3,649

2,605

(1,044)

4995-200 Health Insurance

1,260

3,381

2,121

1,064

1,148

16,902

15,754

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

18,349

42,914

24,565

33,062

73,575

145,703

72,128

Lifestyles Net Income/Loss

(13,349)

INCOME

BAR

3179-250 Happy Hour

15,684

(15,684)

11,684

37,146

(37,053)

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Jan-21

Variance Last year this month This Year to Date

Budget to Date

GL Number

Description

Current Month

Budget

Variance

3177-250 Food

2,061

(2,061)

104

5,518

(5,518)

3180-250 Entertainment Events

2,214

(2,214)

2,215

2,614

9,327

(6,713)

3184-250 Golf Scrambles

1,239

(1,239)

1,340

2,797

(2,797)

3182-250 Bar-FMCA Events

3183-250 Bar -Non ORPS Events

Total Bar Income

21,198

(21,198)

15,343

2,707

54,788

(52,081)

EXPENSE

BAR

4231-250 Bar Entertainment

887

3,770

1,200

3,061

1,861

4227-250 Bar Consummables

557

316

188

1,528

1,340

4228-250 Bar Food Cost

1,644

2,712

4230-250 Bar Supplies

418

412

504

243

1,276

1,033

4229-250 Bar Liquor

6,737

10,109

2,887

16,649

13,762

4918-250 Wages & Salaries/Contract Labor

5,742

5,712

4,781

3,937

19,971

16,034

4975-250 Payroll Taxes

510

506

368

2,040

1,672

4990-250 Worker's Comp.

517

234

2,068

1,834

4995-250 Health Insurance

597

(25)

2,388

2,413

Total Bar Expense

17,609

17,568

19,539

9,033

51,693

42,660

Bar Net Income/Loss

(41)

INCOME

GOLF

3400-400 Merchandise

454

406

2,963

1,269

467

802

3405-400 Golf Balls

512

158

354

137

1,714

502

1,212

3410-400 Club Rentals

384

(375)

385

1,219

(1,201)

3415-400 18 Holes

835

1,064

(229)

2,167

2,046

2,838

(792)

3420-400 9 Holes

216

(201)

436

(421)

Total Golf Income

1,825

2,228

(403)

5,714

5,062

5,462

(400)

EXPENSE

GOLF

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Jan-21

Variance Last year this month This Year to Date

Budget to Date

GL Number

Description

Current Month

Budget

Variance

4161-400 Office Equipment/Supllies

374

150

(224)

4132-400 Fore Tees Software/Maint

6,000

4172-400 Printing

207

500

293

4190-400 Uniforms

350

228

450

4600-400 Starter Shack Supplies

114

1,145

2,496

2,314

(182)

4610-400 Golf Merchandise

143

2,510

1,457

485

(972)

4650-400 Golf Balls

11,254

(454)

11,682

4950-400 Salaries & Wages

8,050

1,042

(7,008)

10,085

26,509

30,201

3,692

4975-400 Payroll Taxes

1,243

661

(582)

1,495

2,686

3,787

1,101

4971-400 Overtime

4990-400 Worker's Comp

374

1,195

821

489

1,311

3,177

1,866

4995-400 Health Insurance

588

(588)

1,059

(164)

3,583

3,747

4110-400 Cash Over/Short

Total Golf Expense

10,303

14,759

4,456

16,557

40,876

62,329

21,453

Golf Net Income/Loss

(8,478)

EXPENSE

GROUNDS & GREENS

4183-600 Contract Services

111,830

113,830

2,000

110,824

782,810

772,810

(10,000)

4148-600 License & Permits

4630-600 Irrigation Grounds & Golf

991

2,000

1,009

790

11,266

14,000

2,734

4660-600 Tree Trimming

40,800

40,000

(800)

4675-600 Flowers

38,448

27,700

(10,748)

4710-600 R&M Common Area

4,073

750

(3,323)

427

12,580

5,250

(7,330)

4670-600 Plants & Shrubs

Total Grounds & Greens Expense

116,894

116,580

(314)

112,040

885,903

859,760

(26,143)

EXPENSE

SECURITY

4144-150 Contract Fire Alarm

447

668

221

4142-150 Office Equipment

Supplies: Office

4161-150

203

179

4172-150 Printing

115

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Jan-21

Variance Last year this month This Year to Date

Budget to Date

GL Number

Description

Current Month

Budget

Variance

4184-150 Safety Supplies

416

290

(126)

4185-150 Proximity Cards

4,557

791

2,500

1,709

4186-150 Transponders

316

3,263

5,684

2,422

4190-150 Uniforms

413

299

4,652

2,887

(1,765)

4915-150 Wages & Salaries

33,736

25,550

(8,186)

29,878

193,781

191,623

(2,158)

4971-150 Overtime

2,771

417

(2,354)

175

9,765

2,915

(6,850)

4975-150 Payroll Taxes

1,856

2,514

658

4,537

19,481

17,598

(1,883)

4990-150 Worker's Comp.

1,274

1,808

534

1,276

9,157

12,654

3,497

4995-150 Health Insurance

5,409

5,410

3,717

31,535

37,869

6,334

Total Security Expense

45,044

36,516

(8,528)

47,782

273,366

275,006

1,640

EXPENSE

MAILROOM

4161-175 Supplies: Office

240

168

4190-175 Uniforms

200

4917-175 Wages & Salaries

2,485

4,374

1,889

5,759

20,328

26,220

5,892

4975-175 Payroll Taxes

359

506

147

662

2,173

3,542

1,369

4990-175 Worker's Comp

119

4971-175 Overtime

Total Mailroom Expense

2,855

4,977

2,122

6,506

22,645

30,321

7,676

EXPENSE

FACILITIES

4126-500 Holiday Decorations

644

4148-500 Licenses & Permits - Pools & Spas

9,247

7,714

(1,533)

4184-500 Supplies: Safety

600

4190-500 Uniforms

261

1,061

800

1,061

2,429

2,985

556

4500-500 Supplies: Housekeeping

2,589

2,782

193

3,583

17,316

21,157

3,841

4510-500 Pool Supplies: Pool

1,291

1,711

420

3,011

6,639

4,032

(2,607)

4530-500 Supplies: Tennis

100

4540-500 Pest Control

830

917

830

5,810

6,415

605

4930-500 Salaries & Wages: Housekeeping

20,737

15,532

(5,205)

15,425

85,014

89,236

4,222

4971-500 Overtime

689

(658)

1,827

179

(1,648)

4975-500 Payroll Taxes

2,293

1,057

(1,236)

2,312

6,646

7,394

748

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Jan-21

Variance Last year this month This Year to Date

Budget to Date

GL Number

Description

Current Month

Budget

Variance

4990-500 Worker's Comp

667

808

141

630

3,835

5,656

1,821

4995-500 Health Insurance

2,312

2,405

2,143

12,804

16,832

4,028

Total Facilities Expense

31,670

26,304

(5,366)

29,035

151,567

162,944

11,377

EXPENSE

MAINTENANCE & REPAIR

4142-700 Office Equipment/Copier Service

300

4161-700 Supplies: Office

363

(321)

463

290

(173)

4184-700 Supplies: Safety

364

292

(72)

381

3,892

2,040

(1,852)

4190-700 Uniforms

518

573

409

4,014

4,011

(3)

4757-850 Laundry Cards

1,130

481

960

2,810

1,850

4700-700 Administrative Building

417

348

137

1,186

2,915

1,729

4705-700 Lots (light bulbs/water repairs)

385

1,368

983

947

833

9,576

8,743

4715-700 Clubhouses

2,025

1,271

35,258

14,175

(21,083)

4720-700 Satellites (includes Guard Shack)

177

1,727

1,550

501

2,694

12,089

9,395

4725-700 Swimming Pools

2,681

459

(2,222)

460

19,743

5,560

(14,183)

4730-700 Tennis Courts

4,690

2,915

(1,775)

10,977

20,405

9,428

4733-700 R&M Recreation Equipment

167

163

2,086

1,169

(917)

4735-700 R&M Wells & Pumps

267

1,668

1,865

197

4740-700 R&M Lakes

2,427

3,232

805

2,315

16,155

16,972

817

4745-700 R&M Streets

3,474

300

(3,174)

10,916

3,322

(7,594)

4747-700 R&M Maintenance Building

189

894

1,323

429

4750-700 R&M Golf

350

4755-700 R&M Convience Store

4756-850 R&M Restauarant

998

829

(169)

135

9,472

5,795

(3,677)

4758-700 R&M Laundry Equipment

1,700

(1,700)

4759-700 Contracted Pool Service

9,782

(9,782)

4760-700 Supplies: Maintenance

2,322

833

(1,489)

956

12,339

5,831

(6,508)

4825-700 Small Tools

639

714

943

1,110

4,998

3,888

4960-700 Salaries & Wages: Maintenance & Repair

45,532

33,005

(12,527)

33,546

234,943

234,476

(467)

4971-700 Overtime

313

(233)

1,924

572

(1,352)

4975-700 Payroll Taxes

4,374

3,055

(1,319)

5,133

15,049

21,382

6,333

4990-700 Worker's Comp

1,356

2,212

856

1,305

10,963

15,480

4,517

4995-700 Health Insurance

4,865

4,453

(412)

3,881

38,651

31,166

(7,485)

Total Maintenance & Repair Expense

75,545

60,334

(15,211)

53,055

447,672

418,872

(28,800)

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Jan-21

Variance Last year this month This Year to Date

Budget to Date

GL Number

Description

Current Month

Budget

Variance

EXPENSE

VEHICLE MAINTENANCE

4148-800 License/Permits Vehicle/Equip

(33)

4190-800 Uniforms

105

163

105

1,050

1,141

4800-800 DMV Fees

1,340

1,357

4820-800 Shop Supplies

932

292

(640)

3,512

2,040

(1,472)

5025-600 Gasoline

469

632

163

585

2,279

3,496

1,217

4825-800 Tools

115

4830-800 R & M: Golf Carts

270

700

430

184

3,545

4,900

1,355

4835-800 R & M: Trucks

341

713

372

470

4,076

4,991

915

4965-800 Salaries & Wages

3,438

3,262

(176)

3,272

21,689

22,834

1,145

4971-800 Overtime

(40)

254

112

(142)

4975-800 Payroll Taxes

562

291

(271)

532

1,373

2,031

658

4990-800 Worker's Comp.

147

215

144

1,108

1,501

393

4810-800 Equipment Maintenance

Total Vehicle Expense

6,353

6,386

5,413

40,259

44,518

4,259

EXPENSE

UTILITIES

5000-100 Cable TV

15,688

15,524

(164)

14,339

119,906

104,960

(14,946)

5010-100 Electricity

20,310

17,418

(2,892)

17,419

226,871

182,956

(43,915)

5020-500 Natural Gas

16,261

17,046

785

15,831

42,828

49,520

6,692

5035-100 Telephone

3,761

5,364

1,603

5,764

26,348

25,192

(1,156)

5060-600 Refuse

5,894

5,034

(860)

5,597

25,524

21,640

(3,884)

5070-600 Dump Fees

1,668

3,158

1,490

3,269

8,472

11,847

3,375

5080-500 Water

9,881

19,234

9,353

9,475

110,153

104,027

(6,126)

5085-600 Sewer

2,634

4,811

2,177

5,012

18,084

18,822

738

Total Utilities Expense

76,097

87,589

11,492

76,706

578,187

518,964

(59,223)

Total Expense

476,095

503,849

27,754

533,265

3,133,805

3,224,625

90,820

OUTDOOR RESORT - PALM SPRINGS Reserve Balance Sheet Jan-21

GL Number

Current Month Last Year

ASSETS CASH

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

Checking Account - First Foundation Bank

1,290,787 416,222 266,771 266,550 158,898 158,679 2,357,409 2,304,593 4,073,865 3,146,044

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

Prepaid Federal Income Tax Prepaid State Income Tax

(3,360)

3,600 2,310 5,910

(591)

(3,951)

TOTAL ASSETS

4,069,914 3,151,954

LIABILITIES

CURRENT LIABILITIES Due to Operations Fund

2240-000 2305-000

512 (45,844) 0 512 (45,844) 0

Income Taxes Payable

512 (45,844)

TOTAL RESERVE FUND LIABILITIES

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

2625-000

4,069,402 3,264,779 250,916 (66,981) 4,320,318 3,197,798

TOTAL LIABILITIES AND FUND BALANCE

4,069,914 3,151,954

OUTDOOR RESORT - PALM SPRINGS Reserve Fund Income Statement 31-Jan-21

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 18,036 106,120

88,084

616,588 28,224 644,812 - 644,812

Interest Income

1,674

1,706

1,770

1,711

1,553

1,773

TOTAL

89,758

89,790

89,854

89,795

89,637

89,857

TOTAL REVENUES

89,758

89,790

89,854

89,795

89,637

106,120

89,857

EXPENSES: Real Estate Improvements & Repairs

32,486 95,422

32,045 81,429

8,662 9,875

1,376

55,058

13,904

143,531 250,366

Personal Property - Equipment Other Expenses/Bank Fee

41,010

21,579

1,051

- - - - -

Ameritrade Appreciation/Depreciation

Ameritrade Fees

Federal Income Tax State Income Tax

- -

TOTAL

41,010

127,908

113,474

18,537

22,955

55,058

14,954

393,896 - 393,896 - 250,916

Total Expenses

41,010

127,908

113,474

18,537

22,955

55,058

14,954

Net Income (Loss)

48,748

(38,118)

(23,620)

71,258

66,682

51,062

74,903

OUTDOOR RESORT - PALM SPRINGS Capital Balance Sheet 31-Jan-21

GL Number

Current Month Last Year

ASSETS CASH 1075-000 Cash Account - Union Bank

190,884 107,894 0 190,884 107,894 0

1345-000 Prepaid Expenses

RECEIVABLES

TOTAL ASSETS

190,884 107,894

LIABILITIES

CURRENT LIABILITIES 2250-000 Due to Operations Fund

281,929 212,930 281,929 212,930

281,929 212,930

TOTAL DEVELOP. FUND LIABILITIES

DEVELOP. FUND BALANCE

2630-000 Capital Balance Beginning

(79,327) (122,004) 16,968 (91,046) (105,036) (11,718)

Capital Income(Loss)YTD

TOTAL LIABILITIES

190,884 107,894

OUTDOOR RESORT - PALM SPRINGS Capital Income Statement 31-Jan-21

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

10,834

50,836 25,002

Development Fund Allocations

Interest Income

104

TOTAL

10,846

10,847

10,848

10,849

10,850

10,851

75,942 - 75,942

TOTAL REVENUES

10,846

10,847

10,848

10,849

10,850

10,851

EXPENSES: Real Estate Additions

1,000

28,276

31,064

- - -

1,523

25,798

87,660

Other Expenses

TOTAL

1,000

28,276

31,064

1,523

25,798

87,660 - 87,660 -

Total Expenses

1,000

28,276

31,064

1,523

25,798

Net Income (Loss)

9,846

(17,429)

(20,216)

10,849

9,327

10,851

(14,946)

(11,718)

Outdoor Resort Palm Springs Owners Association Operating Fund Working Capital Policy

Policy Statement

The Controller shall maintain one week to two weeks (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 4% of the current annual budget will be realloacated as determined by the Board of Directors in accordance with our Governing Documents and California Civil Code.

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. (See Administative Policies and Procedures).

01/31/2021

01/31/2020

Current Assets Cash

223,119 295,446

211,427 364,231

Receivables

Other Current Assets

61,379

59,382

Total

579,944

635,040

Current Liabilities

Accounts Payable

79,145 130,378 185,585

90,709 122,965 172,963

Accruals (payroll items)

Owners Assessments prepaid Capital Lease Payable Other Current Liabilities

35,421

34,452

Total

430,528

421,089

Working Capital

149,416

213,951

2020-21

2019-20

Operating Fund Current Annual Budget

5,574,166

5,104,189

2% of Operating Budget 4% of Operating Budget

111,483 222,967

102,084 204,168

Actual - Working Capital as a Percentage of Operating Fund Current Annual Budget

2.68%

4.19%

OUTDOOR RESORT - PALM SPRINGS Forecast

31-Jan-21 Actual vs. Budget

Jul-20 Aug-20 Sep-20 Oct-20 Nov-21 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21

Total

Variance

Revenue

Actuals Actual

Actual 400,056

Actual 402,595 13,996

Actual 409,656 35,411

Actual 408,876 32,507 10,000

Actual 413,391 46,879

Budget Budget Budget Budget

Budget Actual/Budget

Budget

Administration Resort Services

396,086 11,258

402,235

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

4,865,411

4,875,409

(9,998) (74,520) (62,784) (52,081)

5,038

3,935

378,351 72,486 46,754 11,334

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

Lifestyles

- - -

639

5,000

- -

- - -

Bar

2,707 1,891

Golf

1,346

1,825

2,804

2,276

915

277

(400)

Total Revenues

407,345

407,273

403,991

416,591

450,304

452,729

467,095

572,064

532,158

439,584

416,382

408,821

5,374,336

5,574,119

(199,783)

Expenses Administration Resort Services

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

37,713

76,952 21,735

64,309 13,200 14,821

63,407 13,245 12,559

66,423 15,482 14,152

90,276 19,856 16,087

70,224 22,719 18,349

72,090 19,994 43,776 13,510 14,759 116,580 36,516

73,614 16,985

67,246 13,928

853,725 205,489 176,882 42,935 81,289

8,478

6,061

Lifestyles

(2,716)

74,169 40,620 21,454

322

113

Bar

7,294

3,511 7,855

5,116

347

- -

Golf

(1,796)

10,894 116,580 49,291

14,467 114,341 30,669

10,046 116,071 40,239

10,303 116,894 45,044

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

(26,982)

1,476,142

Security Mailroom Facilities

472,768 54,888 262,118 729,481 76,316 880,709 142,136

1,640 7,675

471,128 47,213 250,741 758,280 72,057 940,016

1,659

4,897

4,978

1,698

2,013

2,517

7,257

4,647

2,855

4,897

4,898

11,356 45,939

26,103 59,923

22,947 60,403

11,377

13,548 65,234

20,620 72,026

27,695 60,131

22,180 59,089

24,498 69,707

31,670 75,545

24,494 61,922

11,673 65,373

13,957 62,988

Maintenance & Repair Vehicles Maintenance

(28,799)

4,201

7,052

6,121

4,259

4,602

5,790

7,965

4,069

7,279

6,353

5,906

5,925

6,794

Utilities

89,558

81,482

71,781

(59,307) 142,136 232,015

103,989

72,827

74,472

82,400

78,928

76,097

73,026

69,323

66,133

Contingency

Total Expenses

413,610

438,856

426,177

466,382

435,645

477,981

476,095

487,470

496,250

462,443

405,500

389,489

5,375,898

5,607,913

Net Income/(Loss)

(6,265)

(31,583)

(22,186)

(49,791)

14,659

(25,252)

(9,000)

84,594

35,908

(22,859)

10,882

19,332

(1,562)

(33,794)

32,232