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March 15, 2021 Regular Meeting Directors Report

Directors Report

Board Meeting

March 15 , 202 1

MEETING OF THE BOARD OF DIRECTORS MONDAY, MARCH 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 – February 28, 2021 IV. SECRETARY’S REPORT

Page 1 of 3

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 – February 15, 2021 2. Joint Board/Finance Meeting – March 4, 2021 B. 2021 Committee Appointments 1. Golf 2. Safety & Security 3. Pickleball 4. Finance C. Signature Stamps – Finance Committee Recommendation

Use by Designated Board Members for Check Signing D. Funds Transfer – Finance Committee Recommendation $500,000 from Working Capital to Capital Fund E. Lien Filings APN: 773-103-090

VIII. UNFINISHED BUSINESS A. 2021-22 Budget

Approval of Budget and Setting of Assessment B. Administrative Policies Amendment Action to Approve C. Road Bids Award of 2021 Road Work

Page 2 of 3

IX.

NEW BUSINESS A. Rules & Regulations Amendments - 1 st Readings 1. Tennis 2. A&A B. Can-Am Golf Tournament Variance Request for Private Event C. Satellite “B” Upgrade Proposal to Enhance Social Gathering

DISCUSSION A. Self-Guided Tours

30-Day Trial for Visitors

B. Pickleball Survey

Examination of Results C. Summer Use of Amenities Direction on Facilities Opening/Closing

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 – April 19, 2021 – 1 P.M. (PT) Virtual OR La Palma Clubhouse

Page 3 of 3

March 15 , 202 1 Presidents Report

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

March 15, 2021 Secretary’s Report

March 15 , 202 1 Treasurer’s Report & Ratification A. Financial Statement - February 28 , 202 1

OUTDOOR RESORT - PALM SPRINGS Operating Balance Sheet Feb-21

GL Number

Current Month

Last Year

ASSETS

CASH

1002,1003-000

Petty Cash

5,996

5,900

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)

10,669

46,854

1016,1216-000

228,232 697,772

421,088 689,136

1018-000

Total Operating Cash

942,669

1,412,979

RECEIVABLES

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

Assessment Receivables

20,571

7,648

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

(16,951) 213,500

281,929

A/R Guest Ledger

(7,441)

(9,203)

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

250

(883)

- - -

A/R Transfer Balance Zero Acct.

Total Accounts Receivable

295,309

194,111

OTHER CURRENT ASSETS

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

Prepaid Insurance

32,215

32,808

Other Prepaid Expenses Prepaid Worker's Comp

9,650

9,971

- -

Land Available For Sale

Bar Inventory Store Inventory

7,711

9,397

Bar Happy Hour Food Inventory Golf Merchandise Inventory

256 330

TOTAL CURRENT ASSETS

50,162

52,762

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

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

1,644,688

1,904,359

OUTDOOR RESORT - PALM SPRINGS Operating Balance Sheet Feb-21

GL Number

Current Month

Last Year

LIABILITIES

CURRENT LIABILITIES

2010-000 2011-000 2013-000

Accounts Payable

(664)

50,459 64,422 18,518 50,499

Accounts Payable Accrual's

33,525 45,908 60,346 16,845

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

7,882 6,450

Sales Tax Payable

2,530

Use Tax

Occupancy Tax

(5,221)

2,776

Capital Lease Payable

Employee Appreciation Day Fund

(242)

Deferred Revenue Café Gratuities Payable Accrued Vacation Prepaid Assessments

426

351

(11,140) 161,691

28,607 165,037 12,335

2102,2014-000

Prepaid Activities ORPS Events

4,819

2104-000

Prepaid Bar Entertainment

(500)

Total Current Liabilities

308,322

407,094

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

2,100 2,400 2,585

1,700 2,500 5,941

Tennis Holding

Resorters Chorus Holding Fitness Center Holding

558

358

6,589

6,389

Computer Club

Pickle Ball Holding

5,006

4,325

ERT Holding

355

Big Star Holding

3,716 2,291

5,875 2,329

Stitch & Bees Quilt

Golf Holding

125

(2,334)

ORPS Golf Club

7,443

5,022

Total Other Liabilities

35,169

34,462

TOTAL OPERATING FUND LIABILITIES

343,490

441,555

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

(31,027)

(91,650) (53,407)

Operating Reserve 2017 2018 Additional Funding

Total

1,301,197

1,409,397

TOTAL LIABILITIES AND FUND BALANCE

1,644,688

1,904,359

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

Budget to Date

Current Month

Budget

Variance

Last year this month YTD

Variance

Revenue Administration Resort Services

411,794 60,600

416,840 91,632 33,821 26,967

(5,046) (31,032) (30,999) (22,160)

384,506 99,339 26,274 19,642

3,244,689

3,259,733

(15,044) (105,551) (93,783) (74,241)

209,625 18,461

315,176 112,244 81,755

Lifestyles

2,822 4,807 2,822

Bar

7,514 7,884

Golf

2,804

4,645

8,266

(382)

Total Revenues

482,846

572,064

(89,218)

534,406

3,488,172

3,777,174

(289,002)

Budget to Date

Current Month

Budget

Variance

Last year this month YTD

Variance

Expenses Administration Resort Services

61,790

72,090 19,994 43,266 14,020 14,759 116,580 36,516

10,300 13,261 24,262

61,500 27,790 40,667 17,176

557,797 121,449 92,580 16,584 50,989 999,542 296,834 26,617 167,112 485,104 47,725 656,865

605,829 140,770 188,969 65,713 77,088 976,340 311,522 35,218 187,438 480,794 50,424 591,990

48,032 19,321 96,390 49,129 26,099

6,733

Lifestyles

19,004

Bar

7,551

6,469 4,645 2,941

Golf

10,114 113,639 23,468

6,071

Grounds & Greens

114,344 27,418

(23,202)

Security Mailroom Facilities

13,048

14,688

3,972

4,897

925

4,838

8,601

15,546 37,433

24,494 61,922

8,948

23,790 56,874

20,326 (4,310)

Maintenance & Repair Vehicles Maintenance

24,489 (1,559) (5,653)

7,465

5,906

7,159

2,699

Utilities

78,679

73,026

70,876

(64,875)

Total Expenses

385,394

487,470

102,076

458,503

3,519,199

3,712,095

192,896

Net Income/Loss

97,452

84,594

12,858

75,903

(31,027)

65,079

(96,106)

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Feb-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

3,148,480

3100-100 Assessments

861

1,237

(376)

629

7,885

9,892

(2,007)

3106-100 Late Fees/Interest/NSF

(38)

(41)

304

(345)

3107-100 Special Individual Assessments

3,200

1,084

2,116

2,300

15,600

8,668

6,932

3109-100 Transfer Fees

2,790

625

2,165

12,540

5,000

7,540

3111-100 Escrow Demand Fee

650

625

975

3,000

4,175

(1,175)

3119-100 Permit Fee

300

209

300

1,551

1,668

(117)

3151-175 Key Replacement

175

555

(380)

600

2,795

3,280

(485)

3110-125 Vendor Fees

10,058

18,907

(8,849)

17,015

46,389

78,266

(31,877)

3160-850 Laundry

200

600

3144-100 Other Income

5,890

3148-100 Interest

3115-100 Fines and Suspensions

411,794

416,840

(5,046)

384,506

3,244,689

3,259,733

(15,044)

Total Administration Income

EXPENSE

ADMINISTRATION

13,750

12,500

(1,250)

4100-100 Audit /Tax Returns

532

239

(293)

380

3,412

900

(2,512)

4109-100 Bank Fees

5,820

1,347

(4,473)

6,125

18,971

10,776

(8,195)

4226-100 Board Expenses

1,465

1,080

(385)

4,081

1,838

5,091

3,253

4365-300 Credit Card

5,658

4,405

(1,253)

4,268

50,448

42,453

(7,995)

4115-100 Computer

1,206

(323)

1,206

10,703

9,648

(1,055)

4125-100 First Aid

1,529

1,520

987

4127-100 Dues & Subscriptions

346

1,866

1,867

5,330

6,317

1,150

4148-100

Permits

147

1,297

8,283

(202)

8,202

67,879

66,259

(1,620)

4139-100 Insurance

8,485

(865)

876

7,548

9,054

1,506

4142-100 Copier Service

1,842

977

757

(1,050)

2,558

8,922

6,020

(2,902)

4145-100 Legal Fees

1,807

438

2,094

4151-100 Meals & Entertainment

457

325

1,562

3,656

157

1,210

4154-100 Mileage & Travel

183

254

1,464

450

681

231

4159-100 Office Equipment

826

403

4,918

3,796

(1,122)

4161-100 Supplies

262

1,088

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Feb-21

Variance Last year this month This Year to Date

Budget to Date

GL Number

Description

Current Month

Budget

Variance

1,350

256

1,322

10,619

10,162

(457)

4166-100

Payroll Services

1,094

396

965

27,000

33,529

6,529

4996-100 401K - All

4,047

4,443

(1,719)

4169-100

Postage & FedEx Delivery

150

220

247

3,357

1,638

(1,888)

(5,982)

4172-100 Printing

1,996

108

109

7,975

1,993

(142)

224

242

800

558

4177-100 Radios

242

100

(513)

1,423

1,200

(223)

4178-100 Recruitment

513

(176)

4182-100 Safety /1st Aid Supplies

467

291

525

2,296

2,334

150

(54)

331

1,456

1,200

(256)

4179-100 Storage Costs

204

862

1,892

6,896

5,004

4187-100 Training & Education

862

(338)

2,115

1,704

(411)

4191-100 Website

150

213

14,343

21,550

7,207

4973-100 Bonuses

13,580

11,586

4901-100 Wages & Salaries

18,616

32,196

23,882

240,622

252,208

(292)

940

808

429

(379)

4971-100 Overtime

349

7,355

8,700

1,345

4972-100 Holiday Gifts

(263)

4,721

4975-100 Payroll Taxes

2,917

2,654

1,211

16,505

21,226

1,169

348

1,201

7,223

9,352

2,129

4990-100 Workers Comp

822

2,239

539

12,283

17,912

5,629

4995-100 Health Insurance

2,156

(149)

1,351

1,500

149

4997-100 Employee Substance Test

199

3,948

31,584

5100-100 Contingency Expense

3,948

31,584

2,773

(2,773)

4999-100 Consulting

4102-100 Bad Debt Expense

(27)

4175-300 Business Tax

Total Administration Expense

61,790

72,090

10,300

61,500

557,797

605,829

48,032

Administrative Net Income/Loss

350,004

INCOME

RESORT SERVICES

3112-100 Website Listing

250

350

2,725

3113-100 Proximity Cards

251

350

(99)

379

1,282

1,897

(615)

3114-100 Transponders

441

750

(309)

717

4,436

6,533

(2,097)

3130-100 Beauty Shop Rent

300

318

(18)

300

600

1,484

(884)

3132-100 Espresso Bar Rent

(64)

254

(254)

3142-100 Café % of Sales

700

(700)

846

899

3,300

(2,401)

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Feb-21

Variance Last year this month This Year to Date

Budget to Date

GL Number

Description

Current Month

Budget

Variance

3133-100 Store Rent

500

614

(114)

500

2,000

3,063

(1,063)

3147-100 Real Estate % of Sales

3,795

4,167

(372)

12,796

20,379

33,334

(12,955)

3152-100 Real Estate % of Rental

5,855

1,884

3,971

10,198

15,066

(4,868)

3154-100 Other (Oracle Advertising)

550

2,250

(1,700)

2,825

4,815

7,425

(2,610)

3550-125 Resort Fees

48,385

80,535

(32,150)

80,432

161,202

242,820

(81,618)

3155-125 Advertising

3345-125 Copies & Faxes

100

330

3145-125

Directories

3330-300 Sundries

173

760

Total Rental/Reimburesement Income

60,600

91,632

(31,032)

99,339

209,625

315,176

(105,551)

EXPENSE

RESORT SERVICES

4103-125 Advertising & Marketing

8,072

8,474

402

4150-125 Credit Card Fees

442

3,276

2,834

3,443

4,843

9,342

4,499

4184-125 Front Desk Safety Supplies

150

700

4142-125 Photo Copier Services

1,418

878

(540)

4190-125 Uniforms

150

700

550

4198-125 Meals & Entertainment

149

264

115

4905-125 Wages & Saleries

3,126

14,148

11,022

22,637

87,634

101,339

13,705

4975-125 Payroll Taxes

1,372

1,109

(263)

1,024

9,041

8,867

(174)

4990-125 Workers Comp

215

(160)

1,558

440

(1,118)

4971-125 Overtime

236

(217)

537

137

(400)

4995-125 Health Insurance

1,258

1,204

(54)

566

7,965

9,629

1,664

4110-125

Cash Over/Short

(84)

Total Resort Services Expense

6,733

19,994

13,261

27,790

121,449

140,770

19,321

Resort Services Net Income/Loss

53,867

INCOME

LIFESTYLES

3170-200 ORPS Events

2,402

28,961

(26,559)

24,414

17,992

82,028

(64,036)

3174-200 Saturday - Coffee/Donuts

(30)

120

(120)

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Feb-21

Variance Last year this month This Year to Date

Budget to Date

GL Number

Description

Current Month

Budget

Variance

3175-200 Saturday Ice Cream

370

730

(360)

653

370

1,955

(1,585)

3200-200 Non-ORPS Events

1,100

(1,050)

1,100

6,141

(6,091)

3284-200 Sponsorship

3,000

(3,000)

22,000

(21,951)

3265-200 Flea Market Contributions

107

Total Lifestyles Income

2,822

33,821

(30,999)

26,274

18,461

112,244

(93,783)

EXPENSE

LIFESTYLES

4202-200 ORPS Events

4,375

19,290

14,915

21,038

6,887

51,004

44,117

4260-200 Decorations

(48)

324

1,500

1,176

4215-200 Ice Cream Social

196

575

379

562

534

1,675

1,141

4267-200 Linen Expense

575

233

199

1,141

942

4142-200 Copier Costs

362

1,899

1,824

4148-200 License & Permits

100

686

2,530

1,844

4272-200 Movie Rentals

128

118

4161-200 Office Supplies

215

129

759

1,285

526

4278-200 Paper Goods & Kitchen Supplies

368

144

(224)

594

856

262

4172-200 Printing

250

4190-200 Uniforms

215

956

428

1,285

857

4916-200 Wages & Salaries: Activities

10,961

16,134

5,173

11,552

68,163

91,685

23,522

4922-200 Tennis Courts/Set Up/Cleaning

4971-200 Overtime

171

129

(42)

2,154

313

733

420

4975-200 Payroll Taxes

1,431

1,598

167

2,886

7,451

9,588

2,137

4990-200 Worker's Comp.

675

522

(153)

612

4,325

3,127

(1,197)

4995-200 Health Insurance

685

3,381

2,696

502

1,833

20,283

18,450

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

19,004

43,266

24,262

40,667

92,580

188,969

96,390

Lifestyles Net Income/Loss

(16,183)

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Feb-21

Variance Last year this month This Year to Date

Budget to Date

GL Number

Description

Current Month

Budget

Variance

INCOME

BAR

3179-250 Happy Hour

6,347

14,721

(8,374)

13,722

6,440

51,867

(45,427)

3177-250 Food

6,026

(6,026)

231

11,544

(11,544)

3180-250 Bar -Entertainment Events

(1,540)

5,689

(7,229)

5,689

1,074

15,016

(13,942)

3184-250 Bar Golf Scrambles

531

(531)

3,328

(3,328)

3182-250 Bar-FMCA Events

3183-250 Bar -Non ORPS Events

Total Bar Income

4,807

26,967

(22,160)

19,642

7,514

81,755

(74,241)

EXPENSE

BAR

4231-250 Bar Entertainment

1,200

887

(313)

1,900

2,400

3,948

1,548

4227-250 Bar Consummables

305

361

1,385

493

1,889

1,396

4228-250 Bar Food Cost

1,298

4,010

4230-250 Bar Supplies

232

313

520

475

1,589

1,114

4229-250 Bar Liquor

2,934

3,795

861

6,898

5,821

20,444

14,623

4918-250 Wages & Salaries/Contract Labor

2,067

5,742

3,675

6,472

6,004

25,713

19,709

4975-250 Payroll Taxes

151

510

359

520

2,550

2,030

4990-250 Worker's Comp.

517

459

293

2,585

2,292

4995-250 Health Insurance

604

597

(7)

579

2,985

2,406

Total Bar Expense

7,551

14,020

6,469

17,176

16,584

65,713

49,129

Bar Net Income/Loss

(2,744)

INCOME

GOLF

3400-400 Merchandise

610

438

172

1,543

1,878

905

973

3405-400 Golf Balls

984

197

787

108

2,697

699

1,998

3410-400 Club Rentals

263

(263)

289

1,482

(1,464)

3415-400 18 Holes

1,219

1,664

(445)

2,632

3,265

4,502

(1,237)

3420-400 9 Holes

242

(232)

678

(653)

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Feb-21

Variance Last year this month This Year to Date

Budget to Date

GL Number

Description

Current Month

Budget

Variance

Total Golf Income

2,822

2,804

4,645

7,884

8,266

(382)

EXPENSE

GOLF 4161-400 Office Equipment/Supllies

(28)

402

150

(252)

4132-400 Fore Tees Software/Maint

6,000

4172-400 Printing

207

500

293

4190-400 Uniforms

800

4600-400 Starter Shack Supplies

350

487

2,496

2,428

(68)

4610-400 Golf Merchandise

1,393

114

(1,279)

2,850

628

(2,222)

4650-400 Golf Balls

143

22,936

4950-400 Salaries & Wages

7,071

11,254

4,183

3,853

33,580

31,243

(2,337)

4975-400 Payroll Taxes

619

1,042

423

277

3,305

4,448

1,143

4971-400 Overtime

4990-400 Worker's Comp

388

661

273

343

1,699

4,372

2,673

4995-400 Health Insurance

614

1,195

581

1,110

450

3,583

3,133

4110-400 Cash Over/Short

(0)

Total Golf Expense

10,114

14,759

4,645

6,071

50,989

77,088

26,099

Golf Net Income/Loss

(7,291)

EXPENSE

GROUNDS & GREENS

4183-600 Contract Services

111,830

113,830

2,000

111,180

894,640

886,640

(8,000)

4148-600 License & Permits

4630-600 Irrigation Grounds & Golf

1,809

2,000

191

337

13,075

16,000

2,925

4660-600 Tree Trimming

40,800

40,000

(800)

4675-600 Flowers

38,448

27,700

(10,748)

4710-600 R&M Common Area

750

2,827

12,580

6,000

(6,580)

4670-600 Plants & Shrubs

Total Grounds & Greens Expense

113,639

116,580

2,941

114,344

999,542

976,340

(23,202)

EXPENSE

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Feb-21

Variance Last year this month This Year to Date

Budget to Date

GL Number

Description

Current Month

Budget

Variance

SECURITY

4144-150 Contract Fire Alarm

447

668

221

4142-150 Office Equipment

Supplies: Office

4161-150

232

208

4172-150 Printing

132

4184-150 Safety Supplies

416

332

(84)

4185-150 Proximity Cards

104

(104)

895

2,500

1,605

4186-150 Transponders

316

3,263

6,000

2,738

4190-150 Uniforms

413

387

4,652

3,300

(1,352)

4915-150 Wages & Salaries

12,858

25,550

12,692

15,784

206,638

217,173

10,535

4971-150 Overtime

635

417

(218)

792

10,400

3,332

(7,068)

4975-150 Payroll Taxes

3,896

2,514

(1,382)

4,417

23,377

20,112

(3,265)

4990-150 Worker's Comp.

1,252

1,808

556

1,071

10,409

14,462

4,053

4995-150 Health Insurance

4,724

5,410

687

4,967

36,259

43,279

7,020

Total Security Expense

23,468

36,516

13,048

27,418

296,834

311,522

14,688

EXPENSE

MAILROOM

4161-175 Supplies: Office

117

(117)

189

240

4190-175 Uniforms

177

(177)

177

200

4917-175 Wages & Salaries

3,204

4,374

1,170

4,211

23,532

30,594

7,062

4975-175 Payroll Taxes

463

506

608

2,636

4,048

1,412

4990-175 Worker's Comp

136

4971-175 Overtime

Total Mailroom Expense

3,972

4,897

925

4,838

26,617

35,218

8,601

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

103

2,429

3,088

659

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Feb-21

Variance Last year this month This Year to Date

Budget to Date

GL Number

Description

Current Month

Budget

Variance

4500-500 Supplies: Housekeeping

4,170

3,368

(802)

4,369

21,486

24,525

3,039

4510-500 Pool Supplies: Pool

1,510

273

(1,237)

(231)

8,149

4,305

(3,844)

4530-500 Supplies: Tennis

100

4540-500 Pest Control

830

917

830

6,640

7,332

692

4930-500 Salaries & Wages: Housekeeping

3,550

15,532

11,982

14,054

88,564

104,768

16,204

4971-500 Overtime

(26)

1,884

210

(1,674)

4975-500 Payroll Taxes

2,404

1,057

(1,347)

1,934

9,050

8,451

(599)

4990-500 Worker's Comp

708

808

100

654

4,543

6,464

1,921

4995-500 Health Insurance

2,316

2,405

2,143

15,120

19,237

4,117

Total Facilities Expense

15,546

24,494

8,948

23,790

167,112

187,438

20,326

EXPENSE

MAINTENANCE & REPAIR

4142-700 Office Equipment/Copier Service

300

4161-700 Supplies: Office

209

(167)

672

332

(340)

4184-700 Supplies: Safety

624

292

(332)

186

4,516

2,332

(2,184)

4190-700 Uniforms

519

573

606

4,533

4,584

4757-850 Laundry Cards

479

(479)

479

1,439

2,810

1,371

4700-700 Administrative Building

417

324

1,279

3,332

2,053

4705-700 Lots (light bulbs/water repairs)

1,368

1,294

2,050

907

10,944

10,037

4715-700 Clubhouses

8,156

2,025

(6,131)

3,684

43,414

16,200

(27,214)

4720-700 Satellites (includes Guard Shack)

1,874

1,727

(147)

862

4,568

13,816

9,248

4725-700 Swimming Pools

2,303

3,177

874

4,536

22,046

8,737

(13,309)

4730-700 Tennis Courts

1,126

2,915

1,789

4,372

12,103

23,320

11,217

4733-700 R&M Recreation Equipment

167

465

2,086

1,336

(750)

4735-700 R&M Wells & Pumps

267

1,668

2,132

464

4740-700 R&M Lakes

2,357

3,232

875

2,588

18,512

20,204

1,692

4745-700 R&M Streets

730

300

(430)

11,646

3,622

(8,024)

4747-700 R&M Maintenance Building

240

189

(51)

1,134

1,512

378

4750-700 R&M Golf

400

4755-700 R&M Convience Store

4756-850 R&M Restauarant

829

1,218

9,472

6,624

(2,848)

4758-700 R&M Laundry Equipment

1,700

(1,700)

4759-700 Contracted Pool Service

9,782

(9,782)

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Feb-21

Variance Last year this month This Year to Date

Budget to Date

GL Number

Description

Current Month

Budget

Variance

4760-700 Supplies: Maintenance

2,478

833

(1,645)

258

14,817

6,664

(8,153)

4825-700 Small Tools

692

714

1,802

5,712

3,910

4960-700 Salaries & Wages: Maintenance & Repair

5,285

33,005

27,720

25,301

240,229

267,481

27,252

4971-700 Overtime

(52)

132

1,871

652

(1,219)

4975-700 Payroll Taxes

4,029

3,055

(974)

3,307

19,078

24,437

5,359

4990-700 Worker's Comp

1,374

2,212

838

1,154

12,337

17,692

5,355

4995-700 Health Insurance

4,842

4,453

(389)

5,762

43,492

35,619

(7,873)

Total Maintenance & Repair Expense

37,433

61,922

24,489

56,874

485,104

480,794

(4,310)

EXPENSE

VEHICLE MAINTENANCE

4148-800 License/Permits Vehicle/Equip

4190-800 Uniforms

140

163

140

1,190

1,304

114

4800-800 DMV Fees

(1)

366

1,341

1,357

4820-800 Shop Supplies

1,736

292

(1,444)

210

5,248

2,332

(2,916)

5025-600 Gasoline

461

190

(271)

725

2,740

3,686

946

4825-800 Tools

380

(363)

380

132

(248)

4830-800 R & M: Golf Carts

1,808

700

(1,108)

1,600

5,353

5,600

247

4835-800 R & M: Trucks

713

653

4,076

5,704

1,628

4965-800 Salaries & Wages

2,356

3,262

906

2,861

24,045

26,096

2,052

4971-800 Overtime

(8)

278

128

(150)

4975-800 Payroll Taxes

419

291

(128)

420

1,792

2,322

530

4990-800 Worker's Comp.

140

215

143

1,248

1,716

468

4810-800 Equipment Maintenance

Total Vehicle Expense

7,465

5,906

(1,559)

7,159

47,725

50,424

2,699

EXPENSE

UTILITIES

5000-100 Cable TV

15,518

15,524

15,460

135,424

120,484

(14,940)

5010-100 Electricity

22,809

18,900

(3,909)

18,901

249,681

201,856

(47,825)

5020-500 Natural Gas

16,218

14,666

(1,552)

14,341

59,046

64,186

5,140

5035-100 Telephone

4,035

2,901

(1,134)

3,008

30,383

28,093

(2,290)

5060-600 Refuse

5,894

4,744

(1,150)

5,307

31,418

26,384

(5,034)

OUTDOOR RESORT - PALM SPRINGS Operating Income Statement Feb-21

Variance Last year this month This Year to Date

Budget to Date

GL Number

Description

Current Month

Budget

Variance

5070-600 Dump Fees

2,254

3,189

935

2,689

10,726

15,036

4,310

5080-500 Water

11,049

11,756

707

9,856

121,202

115,783

(5,419)

5085-600 Sewer

902

1,346

444

1,312

18,986

20,168

1,182

Total Utilities Expense

78,679

73,026

(5,653)

70,876

656,865

591,990

(64,875)

Total Expense

385,394

487,470

102,076

458,503

3,519,199

3,712,095

192,896

OUTDOOR RESORT - PALM SPRINGS Reserve Balance Sheet Feb-21

GL Number

Current Month Last Year

ASSETS CASH

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

Checking Account - First Foundation Bank

1,370,374 524,570 266,773 266,697 158,898 158,679 2,357,847 2,306,762 4,153,893 3,256,709

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

160

3,600 2,310 5,910

4,721 4,881

TOTAL ASSETS

4,158,774 3,262,619

LIABILITIES

CURRENT LIABILITIES

2000-000 Accounts Payable

(26,300)

2240-000 2305-000

Due to Operations Fund Income Taxes Payable

0 (23,812)

(26,300)

(23,812)

(26,300)

(23,812)

TOTAL RESERVE FUND LIABILITIES

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

2625-000

4,132,474 3,264,779 313,987 21,652 4,446,461 3,286,431

TOTAL LIABILITIES AND FUND BALANCE

4,169,245 3,262,619

**Note there is a $10,471 variance that will be reconciled in March**

OUTDOOR RESORT - PALM SPRINGS Reserve Fund Income Statement 28-Feb-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

704,672 28,919 733,591 - 733,591

Interest Income

1,674

1,706

1,770

1,711

1,553

1,773

695

TOTAL

89,758

89,790

89,854

89,795

89,637

89,857

88,779

TOTAL REVENUES

89,758

89,790

89,854

89,795

89,637

106,120

89,857

88,779

EXPENSES: Real Estate Improvements & Repairs

32,486 95,422

32,045 81,429

8,662 9,875

1,376

55,058

13,904

17,638

161,169 258,435

Personal Property - Equipment Other Expenses/Bank Fee

41,010

21,579

1,051

8,069

- - - - -

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

25,707

419,604 - 419,604 - 313,987

Total Expenses

41,010

127,908

113,474

18,537

22,955

55,058

14,954

25,707

Net Income (Loss)

48,748

(38,118)

(23,620)

71,258

66,682

51,062

74,903

63,072

OUTDOOR RESORT - PALM SPRINGS Capital Balance Sheet 28-Feb-21

GL Number

Current Month Last Year

ASSETS CASH 1075-000 Cash Account - Union Bank

201,734 115,180 0 201,734 115,180 0

1345-000 Prepaid Expenses

RECEIVABLES

TOTAL ASSETS

201,734 115,180

LIABILITIES

CURRENT LIABILITIES 2250-000 Due to Operations Fund

281,929 213,500 0 292,537 213,500 10,608

2050-000 Accounts Payable

292,537 213,500

TOTAL DEVELOP. FUND LIABILITIES

DEVELOP. FUND BALANCE

2630-000 Capital Balance Beginning

(79,327) (122,004) 23,684 (90,804) (98,320) (11,476)

Capital Income(Loss)YTD

TOTAL LIABILITIES

201,734 115,180

OUTDOOR RESORT - PALM SPRINGS Capital Income Statement 28-Feb-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

61,670 25,002

Development Fund Allocations

Interest Income

119

TOTAL

10,846

10,847

10,848

10,849

10,850

10,851

10,850

86,791 - 86,791

TOTAL REVENUES

10,846

10,847

10,848

10,849

10,850

10,851

10,850

EXPENSES: Real Estate Additions

1,000

28,276

31,064

- - -

1,523

25,798

10,608

98,268

Other Expenses

TOTAL

1,000

28,276

31,064

1,523

25,798

10,608

98,268 - 98,268 -

Total Expenses

1,000

28,276

31,064

1,523

25,798

10,608

Net Income (Loss)

9,846

(17,429)

(20,216)

10,849

9,327

10,851

(14,946)

242

(11,476)

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).

02/28/2021 02/28/2020

Current Assets Cash

244,897 295,309

473,842 194,111

Receivables

Other Current Assets

50,162

52,762

Total

590,368

720,715

Current Liabilities

Accounts Payable

76,077 65,809 161,691

142,625 86,746 165,037

Accruals (payroll items)

Owners Assessments prepaid

Capital Lease Payable

Other Current Liabilities

35,169

34,462

Total

338,746

428,870

Working Capital

251,622

291,845

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

4.51% 5.72%