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Home My WebLink About2023-05-31 FC Special Meeting Agenda PacketCity of Palm Desert Page 1 FINANCE COMMITTEE CITY OF PALM DESERT, CALIFORNIA AGENDA (HYBRID MEETING) City Hall, North Wing Conference Room 73-510 Fred Waring Drive Palm Desert, CA 92260 Pursuant to Assembly Bill 2449, this meeting will be conducted as a hybrid meeting and there will be in-person access to this location. •To participate via Zoom, use the following link: https://palmdesert.zoom.us/j/87500879123 or call (213) 338-8477, Zoom Meeting ID: 875 0087 9123. •Written public comment may also be submitted to mnance@palmdesert.gov. Emails received by 4:00 p.m. the day prior to the meeting will be distributed to the Committee. Any correspondence received during or after the meeting will be distributed to the Committee as soon as practicable and retained for the official record. Emails will not be read aloud except as an ADA accommodation. 1.CALL TO ORDER 2.ROLL CALL 3.NON-AGENDA PUBLIC COMMENT: This time has been set aside for the public to address the Finance Committee on issues that are not on the agenda for up to three minutes. Because the Brown Act does not allow the Committee to act on items not listed on the agenda, members may briefly respond or refer the matter to staff for a report and recommendation at a future meeting. 4.CONSENT CALENDAR: All matters listed on the Consent Calendar are considered routine and may be approved by one motion. The public may comment on any items on the Consent Calendar within the three-minute time limit. Individual items may be removed by Committee Members for a separate discussion. A.APPROVAL OF MINUTES RECOMMENDATION: Approve the Finance Committee Regular Meeting minutes of March 28, 2023. Wednesday May 31, 2023 1:00 p.m. Special Meeting Finance Committee Agenda May 31, 2023 City of Palm Desert Page 2 CONSENT ITEMS HELD OVER: Items removed from the Consent Calendar for separate discussion are considered at this time. 5.ACTION CALENDAR A.FINANCE DIRECTOR’S REPORT RECOMMENDATION: Receive and file the General Fund Financial Report for the months of March and April 2023. B.PARKVIEW OFFICE COMPLEX FINANCIAL REPORTS RECOMMENDATION: Receive and file the Parkview Office Complex Financial Report for the months of March and April 2023 and the April 2023 Parkview Vacancy report. C.DESERT WILLOW GOLF RESORT FINANCIAL REPORT RECOMMENDATION: Receive and file the Desert Willow Financial Report for the months of March and April 2023. D.CITY TREASURER’S INVESTMENT REPORT RECOMMENDATION: Receive and file the City Treasurer’s Investment Report for the months of March and April 2023. 6.INFORMATIONAL REPORTS & COMMENTS A.FINANCE COMMITTEE MEMBERS B.CITY STAFF C.ATTENDANCE REPORT 7.ADJOURNMENT: The next Regular Meeting will be held on July 24, 2023, at 10:00 a.m. Finance Committee Agenda May 31, 2023 City of Palm Desert Page 3 AFFIDAVIT OF POSTING I hereby certify under penalty of perjury under the laws of the State of California that the foregoing agenda for the Finance Committee was posted on the City Hall bulletin board and City website not less than 72 hours prior to the meeting. /s/ Michelle Nance Recording Secretary PUBLIC NOTICES Agenda Related Materials: Pursuant to Government Code §54957.5(b)(2) the designated office for inspection of records in connection with this meeting is the Office of the City Clerk, City Hall, 73-510 Fred Waring Drive, Palm Desert. Staff reports for all agenda items and documents provided to a majority of the legislative bodies are available for public inspection at City Hall and on the City’s website at www.palmdesert.gov. Americans with Disabilities Act: It is the intention of the City of Palm Desert to comply with the Americans with Disabilities Act (ADA) in all respects. If, as an attendee or a participant at this meeting, or in meetings on a regular basis, you will need special assistance beyond what is normally provided, the City will attempt to accommodate you in every reasonable manner. Please contact the Office of the City Clerk, (760) 346-0611, at least 48 hours prior to the meeting to inform us of your needs and to determine if accommodation is feasible. [This page has intentionally been left blank.] City of Palm Desert Page 1 FINANCE COMMITTEE CITY OF PALM DESERT, CALIFORNIA MINUTES Pursuant to Assembly Bill 2449, this meeting was conducted as a hybrid meeting. 1.CALL TO ORDER A Regular Meeting of the Finance Committee was called to order by Chair Leo on Tuesday, March 28, 2023, at 10:00 a.m., in the North Wing Conference Room, City Hall, located at 73- 510 Fred Waring Drive, Palm Desert, California. 2.ROLL CALL Present: Committee Members Karen Alexander, Carlos Garcia, Kathleen Kelly, Faith Messenger, Karina Quintanilla, Jake Wuest, and Chair Robert Leo. Absent: None. City Staff Present: Veronica Chavez, Director of Finance; John Ramont, Deputy Director of Finance; and Monique Lomeli, Recording Secretary, were present at Roll Call. Other staff members presented reports or responded to questions as indicated in the minutes. 3.NON-AGENDA PUBLIC COMMENT: None. 4.PRESENTATIONS: A.REVIEW OF THE RALPH M. BROWN ACT City Clerk Anthony Mejia provided an overview of the Ralph M. Brown Act and Assembly Bill (AB) 2449. B.PURPOSE AND RESPONSIBILITIES OF THE FINANCE COMMITTEE City Clerk Mejia provided an overview of the purpose and responsibilities of the Finance Committee and responded to committee inquiries. Tuesday March 28, 2023 10:00 a.m. Regular Meeting Item 4A-1 Finance Committee Minutes March 28, 2023 City of Palm Desert Page 2 ALL ACTIONS ARE DRAFT, PENDING APPROVAL OF THE MINUTES 5.CONSENT CALENDAR: A.APPROVAL OF MINUTES MOTION BY COMMITTEE MEMBER MESSENGER, SECOND BY COMMITTEE MEMBER WUEST, CARRIED 7-0, to approve the Finance Committee Regular Meeting minutes of January 24, 2023. 6.ACTION CALENDAR A.FINANCE DIRECTOR’S REPORTS Finance Director Chavez presented the General Fund Financial Report and responded to Committee Member inquiries. Deputy Director Urban presented the Parkview Office Complex Report and responded to Committee Member inquiries. MOTION BY COMMITTEE MEMBER KELLY, SECOND BY COMMITTEE MEMBER GARCIA, CARRIED 7-0 to receive and file the General Fund Financial Report and the Parkview Office Complex Financial Report for the months of January and February 2023. B.DESERT WILLOW GOLF RESORT FINANCIAL REPORT Desert Willow Golf Resort General Manager White presented the staff report and responded to Committee Member inquiries. MOTION BY COMMITTEE MEMBER MESSENGER, SECOND BY COMMITTEE MEMBER GARCIA, CARRIED 7-0, to receive and file the Desert Willow Financial Report for the months of January and February 2023. C.CITY TREASURER’S INVESTMENT REPORT Finance Supervisor Bounds presented the City Treasurer’s Report and responded to Committee Member inquiries. MOTION BY COMMITTEE MEMBER WUEST, SECOND BY COMMITTEE MEMBER MESSENGER, CARRIED 7-0 to receive and file the City Treasurer’s Investment Report for the months of January and February 2023. D.FINANCE SUBCOMMITTEE RECOMMENDATION FOR INVESTMENT MANAGEMENT & ADVISORY SERVICES VENDOR Chair Leo provided a brief history of the request for proposal (RFP) and the Finance Subcommittee’s review of proposals. PFM Asset Management Managing Director Meecham presented a report on the award of a contract to PFM Asset Management to provide investment management and advisory services. Item 4A-2 Finance Committee Minutes March 28, 2023 City of Palm Desert Page 3 ALL ACTIONS ARE DRAFT, PENDING APPROVAL OF THE MINUTES Following discussion, MOTION BY COMMITTEE MEMBER QUINTANILLA, SECOND BY COMMITTEE MEMBER WUEST, CARRIED 7-0 to receive and file the selection of PFM Asset Management by Finance Subcommittee as the City’s Investment Management & Advisory Services consultant. E.REPORT ON THE CITY OF PALM DESERT ANNUAL COMPREHENSIVE FINANCIAL REPORT FOR THE FISCAL YEAR ENDED JUNE 30,2022 LSL CPAs representative, Bryan Gruber, narrated a PowerPoint presentation regarding the audit process, and responded to Committee inquiries. Following discussion, MOTION BY COMMITTEE MEMBER GARCIA, SECOND BY COMMITTEE MEMBER WUEST, CARRIED 7-0 to receive and file the Annual Comprehensive Financial Report for the fiscal year ended June 30, 2022. F.INDEPENDENT ACCOUNTANTS’ REPORT ON AGREED UPON PROCEDURES PERFORMED ON THE MEASURE A TRANSPORTATION FUND FOR THE FISCAL YEAR ENDED JUNE 30, 2023 Deputy Finance Director Urban narrated a PowerPoint presentation and responded to Committee inquiries. Following discussion, MOTION BY COMMITTEE MEMBER ALEXANDER, SECOND BY COMMITTEE MEMBER WUEST, CARRIED 7-0 to receive and file the Independent Accountants’ Report on Agreed-Upon Procedures Performed on the Measure A Transportation Fund for the fiscal year ended June 30, 2022. G.REPORT ON THE AMENDMENT TO EXTEND AUDIT SERVICES FOR THE FISCAL YEAR ENDING JUNE 30, 2023 Finance Director Chavez presented a staff report and responded to Committee inquiries. MOTION BY MESSENGER, SECOND BY ALEXANDER, CARRIED 7-0 to receive and file the report on extension of audit services or the fiscal year ending June 30, 2023. 7.INFORMATIONAL REPORTS & COMMENTS A.FINANCE COMMITTEE MEMBERS In response to Committee Member Alexander, Committee Member Kelly provided an update on upcoming City Council discussions concerning the City’s funding sources. Committee Member Garcia urged the City to consider environmental, social, and governance investments as it moves forward with a new investment company. Chair Leo suggested the City provide electronic access to agenda packets in lieu of printed packets. Item 4A-3 Finance Committee Minutes March 28, 2023 City of Palm Desert Page 4 ALL ACTIONS ARE DRAFT, PENDING APPROVAL OF THE MINUTES B.CITY STAFF Recording Secretary Lomeli reminded the Committee of the deadline to file an Annual Statement of Economic Interests. C.ATTENDANCE REPORT The attendance report was provided with the agenda materials. The Committee took no action on this matter. 8.ADJOURNMENT The Finance Committee adjourned at 11:17 a.m. Respectfully submitted, Monique Lomeli, Senior Deputy Clerk Recording Secretary ATTEST: Veronica Chavez, Director of Finance Secretary APPROVED BY THE FINANCE COMMITTEE: __/__/2023 Item 4A-4 CITY OF PALM DESERT General Fund Financial Report to \ 2022-23 Adjusted Annual Budget * 2022-23 YTD Budget 2022-23 YTD Actual 2022-23 % to YTD Budget Prior YTD Actual Revenues Sales Tax 25,673,460 15,999,593 15,066,889 94% 14,351,577 ↑ Sales Tax for January 2023, compared to prior year January 2022. Transient Occupancy Tax 17,815,000 14,907,782 13,516,366 91% 11,746,879 ↑ Cash receipts for TOT lag behind budget reporting by one month. License, Permits, & Charges 3,583,442 2,303,172 3,120,763 135% 2,501,001 ↑ Increase in Building Permits, SARDA reimbursement timing difference. Property Tax 9,588,029 6,019,249 4,938,390 82% 4,770,387 ↑ Received in January and May of each Fiscal Year. Timing differences for unsecured taxes. Franchise Fees 3,150,000 890,945 752,061 84% 848,519 ↓ Receive various times during the year. Interest Income and Rent 805,000 657,303 2,075,015 316% 517,677 ↑ GF allocation of interest income estimated; actual allocation completed at year-end close. Rising interest rates. State Subvention 4,810,000 2,435,063 2,519,147 103% 2,352,524 ↑ Majority of payments received in February & June. All Others 2,150,950 2,150,950 4,183,476 194% 3,597,736 ↑ Increase from prior year, primarily from sale of land. InterFund Transfers In 3,604,700 - 1,000,000 100%- ↑ Transfers are done various times during the year, primarily during year-end close. TOTAL REVENUES 71,180,581 45,364,057 47,172,107 104%40,686,300 2022-23 Adjusted Annual Budget * 2022-23 YTD Budget 2022-23 YTD Actual Encumb. 2022-23 % to YTD Budget Prior YTD Actual Expenditures Police Services 20,976,865 10,211,302 8,936,688 12,262,096 88% 9,735,950 ↓ Variance result of timing differences in Riverside County Sheriff billing. General Government + Contrib 17,827,082 11,956,446 12,585,126 1,728,096 105% 10,119,361 ↑ Increased actuals from prior year primarily from General Services budget, aligns with expected budget. Public Works 9,568,825 6,089,132 5,342,574 1,145,474 88% 4,341,648 ↑ Timing of expenditures slightly different from prior year. Parks 6,156,554 3,598,941 3,696,919 1,576,716 103% 2,741,008 ↑ Park & landscaping budgets higher than prior year. Building and Safety 1,736,125 1,065,904 1,175,066 146,586 110% 1,135,665 ↑ Increased salaries & professional services from prior year, full year still expected to be within budget. Community Development 3,157,784 1,829,727 2,050,029 442,131 112% 2,045,830 ↑ Increase in overall Planning & Community Development budget from prior year. Economic Development 4,772,185 2,844,699 1,708,950 664,180 60% 2,486,557 ↓ Slight decrease from prior year actual, aligns with expectations. InterFund Transfers Out 24,590,960 2,218,427 16,514,137 - 744% 830,000 ↑ TOTAL GEN FUND EXP 88,786,380 39,814,578 52,009,489 17,965,279 131%33,436,019 Total GF Exp and Encumb 69,974,768 Fire Protection Services 19,937,605 4,406,894 2,435,588 15,300,413 55% 3,869,949 ↓ Variance result of timing difference of Fire Billing, from Riverside County Fire Department and posting of structural fire tax. * Budget has been updated for General Fund-related Adjustments and Appropriations made by the Council through the midyear adjustment report. Transfers completed at various times during the year, primarily during year-end close. Transfers for several large transactions completed already, including the mall property, Lupine Plaza, Development Services lobby, and Discover Palm Desert. Explanation Explanation March 31, 2023 (Year to date) (YTD Budget based on prior year percentage of actual to budget) NEW FORMAT Item 5A-1 CITY OF PALM DESERT General Fund Financial Report to \ 2022-23 Adjusted Annual Budget * 2022-23 YTD Budget 2022-23 YTD Actual 2022-23 % to YTD Budget Prior YTD Actual Revenues Sales Tax 25,673,460 18,126,996 17,376,419 96%16,259,849 ↑ Sales Tax for February 2023, compared to prior year February 2022. Transient Occupancy Tax 17,815,000 17,815,000 16,050,359 90%15,442,886 ↑ Cash receipts for TOT lag behind budget reporting by one month. License, Permits, & Charges 3,583,442 3,011,750 3,421,897 114%3,270,441 ↑ Increase in Building Permits from prior year. Property Tax 9,588,029 6,887,610 5,508,120 80%5,458,582 ↑ Received in January and May of each Fiscal Year. Timing differences for unsecured taxes. Franchise Fees 3,150,000 2,619,112 2,827,508 108%2,494,392 ↑ Received various times during the year. Interest Income and Rent 805,000 695,799 2,385,622 343%547,996 ↑ GF allocation of interest income estimated; actual allocation completed at year-end close. Rising interest rates. State Subvention 4,810,000 2,435,643 2,519,847 103%2,353,084 ↑ Majority of payments received in February & June. All Others 2,150,950 2,150,950 4,435,422 206%3,835,454 ↑ Increase from prior year, primarily from sale of land. InterFund Transfers In 3,604,700 2,458,448 1,000,000 100%2,000,000 ↓Transfers are done various times during the year, primarily during year-end close. TOTAL REVENUES 71,180,581 56,201,308 55,525,194 99%51,662,684 2022-23 Adjusted Annual Budget * 2022-23 YTD Budget 2022-23 YTD Actual Encumb. 2022-23 % to YTD Budget Prior YTD Actual Expenditures Police Services 20,976,865 11,707,216 8,941,445 12,254,639 76%11,162,227 ↓Variance result of timing differences in Riverside County Sheriff billing. General Government + Contrib 17,827,082 13,149,073 13,548,582 1,425,241 103%11,128,743 ↑ Increased actuals from prior year primarily from General Services budget, aligns with expected budget. Public Works 9,568,825 6,916,887 5,876,098 1,086,098 85%4,931,850 ↑ Timing of expenditures slightly different from prior year. Parks 6,156,554 4,321,402 4,111,124 1,317,963 95%3,291,245 ↑ Park & landscaping budgets higher than prior year. Building and Safety 1,736,125 1,247,652 1,323,483 63,895 106%1,329,308 ↓Slight decrease from prior year actual, aligns with expectations. Community Development 3,157,784 2,045,821 2,274,676 368,629 111%2,287,446 ↓Slight decrease from prior year actual, aligns with expectations. Economic Development 4,772,185 3,168,131 2,159,471 1,072,796 68%2,769,269 ↓Slight decrease from prior year actual, aligns with expectations. InterFund Transfers Out 24,590,960 2,218,427 16,564,137 - 747%830,000 ↑ TOTAL GEN FUND EXP 88,786,380 44,774,609 54,799,016 17,589,261 122%37,730,088 Total GF Exp and Encumb 72,388,277 Fire Protection Services 19,937,605 6,970,241 2,526,944 15,270,165 36%6,120,972 ↓ Variance result of timing difference of Fire Billing, from Riverside County Fire Department and posting of structural fire tax. * Budget has been updated for General Fund-related Adjustments and Appropriations made by the Council through the midyear adjustment report. Transfers completed at various times during the year, primarily during year-end close. Transfers for several large transactions completed already, including the mall property, Lupine Plaza, Development Services lobby, and Discover Palm Desert. Explanation Explanation April 30, 2023 (Year to date) (YTD Budget based on prior year percentage of actual to budget) NEW FORMAT Item 5A-2 City of Palm Desert Parkview Office Complex Income Statement for month and fiscal year to date March 31, 2023 Fiscal year 2022-2023 March-23 March-23 #%YTD YTD #% Budget Actual Variance Variance Budget Actual Variance Variance Revenues* Rental 62,500$ 63,437$ 937$ 101.50%562,500$ 681,603$ 119,103$ 121.17% Total Revenues 62,500$ 63,437$ 937$ 101.50%562,500$ 681,603$ 119,103$ 121.17% Expenses** Tenant Improvements [1]11,422$ -$ (11,422)$ 0.00%102,795$ 13,300$ 89,495$ 12.94% Repairs & Maintenance- Building 2,500$ 1,898$ (602)$ 75.93%22,500$ 26,031$ (3,531)$ 115.69% Repairs & Maintenance- Streets 1,667$ 188$ (1,479)$ 11.28%15,000$ 1,503$ 13,497$ 10.02% Repairs & Maintenance- Other Equip 1,667$ -$ (1,667)$ 0.00%15,000$ -$ 15,000$ 0.00% CAM Janitorial Services 13,740$ 27,857$ 14,117$ 202.74%123,660$ 127,432$ (3,772)$ 103.05% CAM Landscaping Services 2,642$ -$ (2,642)$ 0.00%23,775$ 14,100$ 9,675$ 59.31% CAM Alarm [2]315$ -$ (315)$ 0.00%2,835$ 2,945$ (110)$ 103.87% CAM Pest Control 171$ 171$ -$ 0.00%1,535$ 1,364$ 171$ 88.89% CAM Utilities-Gas/Electric [3]1,175$ 9,199$ 8,024$ 782.92%59,325$ 65,069$ (5,744)$ 109.68% CAM Utilities-Waste Disposal 820$ 817$ (3)$ 99.63%7,380$ 7,353$ 27$ 99.63% CAM Utilities-Water 400$ 509$ 109$ 127.37%3,600$ 2,786$ 814$ 77.39% CAM Utilities-Telephone 750$ 510$ (240)$ 68.04%6,750$ 3,969$ 2,781$ 58.80% Total Expenses 37,267$ 41,150$ (3,883)$ 110.42%384,155$ 265,852$ 118,302$ 69.20% Operating Income 25,233$ 22,287$ (2,945)$ 88.33%178,345$ 415,750$ 237,405$ 233.12% Equipment Replacement Reserve [4]-$ -$ -$ 0.00%-$ -$ -$ 0.00% Net Income 25,233$ 22,287$ (2,945)$ >100%178,345$ 415,750$ 237,405$ >100% [1] Tenant improvements are completed at various times throughout the year. [2] Two months of alarm expenses charged to prior month, year-to-date alarm budget overage caused by repairs needed to alarm systems. [3] YTD overage in gas/electric covered by additional revenue received from rent increases at new lease signing. [4] Funds are recorded to the equipment replacement reserve at yearend after the calculation of depreciation. CAM charges are broken out for Finance Committee reporting purposes, but are all budgeted as "Common Area Maintenance." Budget overages in CAM line items are often offset by budget savings in other CAM line items. Note: This schedule does not include rents received into this enterprise fund for other City-owned buildings *Revenues do not include interest income, which is allocated at fiscal year-end. Several updated lease documents were approved by Council over the November-January timeframe, which is expected to lead to increased revenues in the second half of the fiscal year. **Above expenses include only operational budgets. An additional $1,497,600 and $300,000 are set aside in FY22/23 for capital improvements and transfers, respectively. PARKVIEW FY23 Fin Committee WkshtReport Mar 2023 Page 1Item 5B-1 City of Palm Desert Parkview Office Complex Income Statement for month and fiscal year to date April 30, 2023 Fiscal year 2022-2023 April-23 April-23 #%YTD YTD #% Budget Actual Variance Variance Budget Actual Variance Variance Revenues* Rental 62,500$ 66,671$ 4,171$ 106.67%625,000$ 748,274$ 123,274$ 119.72% Total Revenues 62,500$ 66,671$ 4,171$ 106.67%625,000$ 748,274$ 123,274$ 119.72% Expenses** Tenant Improvements [1]11,422$ 1,650$ (9,772)$ 14.45%114,217$ 13,300$ 100,917$ 11.64% Repairs & Maintenance- Building 2,500$ 771$ (1,729)$ 30.83%25,000$ 26,031$ (1,031)$ 104.12% Repairs & Maintenance- Streets 1,667$ 188$ (1,479)$ 11.28%16,667$ 1,503$ 15,163$ 9.02% Repairs & Maintenance- Other Equip 1,667$ -$ (1,667)$ 0.00%16,667$ -$ 16,667$ 0.00% CAM Janitorial Services 13,740$ 357$ (13,383)$ 2.60%137,400$ 127,432$ 9,968$ 92.75% CAM Landscaping Services 2,642$ 4,300$ 1,658$ 162.78%26,417$ 14,100$ 12,317$ 53.38% CAM Alarm 315$ 507$ 192$ 160.85%3,150$ 2,945$ 205$ 93.48% CAM Pest Control 171$ 341$ 171$ 0.00%1,705$ 1,364$ 341$ 80.00% CAM Utilities-Gas/Electric [2]1,175$ 4,910$ 3,735$ 417.91%59,325$ 65,069$ (5,744)$ 109.68% CAM Utilities-Waste Disposal 820$ -$ (820)$ 0.00%8,200$ 7,353$ 847$ 89.67% CAM Utilities-Water 400$ 280$ (120)$ 70.08%4,000$ 2,786$ 1,214$ 69.65% CAM Utilities-Telephone 750$ 810$ 60$ 108.04%7,500$ 3,969$ 3,531$ 52.92% Total Expenses 37,267$ 14,114$ 23,153$ 37.87%420,247$ 265,852$ 154,394$ 63.26% Operating Income 25,233$ 52,557$ 27,324$ 208.29%204,753$ 482,422$ 277,668$ 235.61% Equipment Replacement Reserve [3]-$ -$ -$ 0.00%-$ -$ -$ 0.00% Net Income 25,233$ 52,557$ 27,324$ >100%204,753$ 482,422$ 277,668$ >100% [1] Tenant improvements are completed at various times throughout the year. [2] YTD overage in gas/electric covered by additional revenue received from rent increases at new lease signing. [3] Funds are recorded to the equipment replacement reserve at yearend after the calculation of depreciation. CAM charges are broken out for Finance Committee reporting purposes, but are all budgeted as "Common Area Maintenance." Budget overages in CAM line items are often offset by budget savings in other CAM line items. Note: This schedule does not include rents received into this enterprise fund for other City-owned buildings *Revenues do not include interest income, which is allocated at fiscal year-end. Several updated lease documents were approved by Council over the November-January timeframe, which is expected to lead to increased revenues in the second half of the fiscal year. **Above expenses include only operational budgets. An additional $1,497,600 and $300,000 are set aside in FY22/23 for capital improvements and transfers, respectively. PARKVIEW FY23 Fin Committee WkshtReport Apr 2023 Page 1Item 5B-2 Tenant Current Suite #New Suite # Bottom Floor Anser Advisors 102 132 Congressman Calvert 129 129 Act for MS 106 126 Lift to Rise 108 123 Coachella Valley Mountain Conservancy 112 120 Lift to Rise 100 117 Lift to Rise No #No New # Advantec 120 110 Vacant 1 118 107 Conference Room 119 104 Conference Room 115 101 Conference Room 105 141 Golden Construction 103 138 United Way 103 135 Second Floor Vacant 2 200 215 CVAG - Traffic Management Center No #214 Department of Ag 208 212 Supervisor Perez 222 209 Lift to Rise No #206 Vacant 3 219 205 CVAG - CV Housing First No #202 Department of Ag 211 201 Vacant 4 201 219 Occupancy Rate: Vacancy Rate: 1 Act for MS moved to Suite 106 as of 5/1/23 2 Formerly CVAG, undergoing renovation to split in two units (still housing CVAG Traffic Center). 3 Renovated and ready to lease (onboarding Property Manager) 4 Currently renovating and will be ready to lease soon (onboarding Property Manager) 17% 83% Parkview Suites Occupancy Report As of April 30, 2023 Item 5B-3 [This page has intentionally been left blank.] Desert Willow Golf Resort Standard Summary Income Statement For the Nine Months Ending March 31, 2023 Month-to Date: March 2023 MTD MTD % of MTD % of Actual Budget Budget Prior Year PY REVENUES Green Fees & Cart Fees 1,627,226 1,530,926 106%1,501,373 108% Merchandise 142,234 118,695 120%155,104 92% Other Pro Shop 14,555 10,287 141%10,522 138% Range 15,420 12,587 123%13,965 110% Food & Beverage 729,431 461,580 158%599,943 122% Academy Merchandise 33,469 6,483 516%6,280 533% Other Academy 51,409 42,657 121%52,029 99% Other G&A Income 1,000 2,000 50%1,000 100% ----------------------------------------------------------------------------------------------------------------------------------------- TOTAL REVENUE 2,614,744 2,185,214 120%2,340,216 112% ----------------------------------------------------------------------------------------------------------------------------------------- COST OF SALES Merchandise 69,348 64,698 107%68,998 101% Academy 27,084 5,057 536%4,746 571% Food & Beverage 191,552 152,421 126%162,143 118% ----------------------------------------------------------------------------------------------------------------------------------------- TOTAL COGS 287,984 222,176 130%235,888 122% ----------------------------------------------------------------------------------------------------------------------------------------- COGS - Merchandise %48.8%54.5%89.4%44.5%109.6% COGS - Academy %80.9%78.0%103.7%75.6%107.1% COGS - F&B %29.2%33.7%86.8%29.2%100.3% PAYROLL Course and Grounds 192,679 174,233 111%170,134 113% Carts, Range, Starters, Etc.70,027 58,265 120%62,195 113% Food and Beverage 318,912 225,218 142%253,830 126% Pro Shop 61,043 62,214 98%56,634 108% Clubhouse Services 20,198 19,552 103%18,751 108% Academy 44,714 42,306 106%47,901 93% General and Administrative 46,870 46,795 100%46,786 100% Marketing 27,359 23,849 115%25,418 108% ----------------------------------------------------------------------------------------------------------------------------------------- TOTAL PAYROLL 781,801 652,433 120%681,650 115% ----------------------------------------------------------------------------------------------------------------------------------------- OPERATING EXPENSES Course and Grounds 88,003 112,873 78%142,564 62% Carts, Range, Starters, Etc.6,629 5,124 129%5,943 112% Food and Beverage 96,272 40,619 237%59,873 161% Pro Shop 2,483 6,320 39%4,831 51% Clubhouse Services 36,021 31,872 113%47,846 75% Academy 376 1,422 26%1,657 23% General and Administrative 89,351 66,351 135%62,143 144% Marketing 7,391 12,196 61%6,952 106% ----------------------------------------------------------------------------------------------------------------------------------------- TOTAL OPERATING EXPENSES 326,525 276,778 118%331,809 98% ----------------------------------------------------------------------------------------------------------------------------------------- TOTAL EXPENSES 1,396,310 1,151,387 121%1,249,347 112% ----------------------------------------------------------------------------------------------------------------------------------------- EBITDA 1,218,434 1,033,827 118%1,090,869 112% -------------------------------------------------------------------------------------------------------------------------- Item 5C-1 Desert Willow Golf Resort Standard Summary Income Statement For the Nine Months Ending March 31, 2023 Month-to Date: March 2023 MTD MTD % of MTD % of Actual Budget Budget Prior Year PY EBITDA 1,218,434 1,033,827 118%1,090,869 112% ----------------------------------------------------------------------------------------------------------------------------------------- MANAGEMENT FEES (21,667)(21,667)100%(20,833)104% ----------------------------------------------------------------------------------------------------------------------------------------- FINANCING ACITIVITY Interest Expense - Debt (1,000)(4,110)24%(4,110)24% Interest Expense - Leases (7,882)(4,922)160%(2,591)304% Interest Income 12,875 30 42918%157 8209% ----------------------------------------------------------------------------------------------------------------------------------------- TOTAL FINANCING ACTIVITY 3,994 (9,002)-44%(6,544)-61% ----------------------------------------------------------------------------------------------------------------------------------------- OTHER INCOME (EXPENSE) Non-Operating Revenue 25,200 25,200 100%25,200 100% Facility Rent (8,000)(8,000)100%(8,000)100% Depreciation & Amortization (114,496)(92,710)123%(92,710)123% Taxes 2,432 (8,853)-27%(1,260)-193% ----------------------------------------------------------------------------------------------------------------------------------------- TOTAL OTHER INCOME (EXPENSE)(94,864)(84,363)112%(76,770)124% ----------------------------------------------------------------------------------------------------------------------------------------- NET INCOME 1,105,896 918,795 120%986,722 112% ============== ============================================================== Paid Rounds 11,903 13,613 87%12,418 96% Other Rounds 287 174 165%274 105% Total Rounds 12,190 13,788 88%12,692 96% Revenue/Paid Rounds 220 161 137%188 117% Revenue/Total Rounds 214 158 135%184 116% Green Fees / Cart Fees per Paid Rounds 137 112 122%121 113% Green Fees / Cart Fees per Total Rounds 133 111 120%118 113% F&B Revenue/Total Rounds 60 33 179%47 127% Merchandise Revenue/Total Rounds 14 9 159%13 113% Item 5C-2 Desert Willow Golf Resort YTD & Rolling 12 Months Standard Summary Income Statement For the Nine Months Ending March 31, 2023 YTD YTD % of YTD % of Annual Rolling Actual Budget Budget Prior Year PY Budget 12 Months REVENUES Green Fees & Cart Fees 7,391,365 6,641,538 111%6,721,517 110%8,549,713 9,730,562 Merchandise 914,011 720,354 127%811,257 113%904,867 1,162,988 Other Pro Shop 435,309 453,355 96%438,775 99%473,645 478,537 Range 61,275 57,911 106%66,551 92%73,677 72,665 Food & Beverage 3,603,610 2,688,904 134%2,944,506 122%3,433,920 4,635,057 Academy Merchandise 60,560 32,356 187%40,197 151%51,599 85,295 Other Academy 292,968 234,121 125%259,068 113%284,051 356,923 Other G&A Income 32,689 20,050 163%20,538 159%26,050 49,773 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- TOTAL REVENUE 12,791,787 10,848,589 118%11,302,409 113%13,797,521 16,571,799 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- COST OF SALES Merchandise 505,611 393,608 128%407,579 124%493,960 633,156 Academy 48,858 25,238 194%30,130 162%40,247 67,009 Food & Beverage 1,016,645 847,331 120%821,509 124%1,095,686 1,330,972 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- TOTAL COGS 1,571,114 1,266,177 124%1,259,218 125%1,629,893 2,031,137 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- COGS - Merchandise %55.3%54.6%101.2%50.2%110.1%54.6%642.6% COGS - Academy %80.7%78.0%103.4%75.0%107.6%78.0%934.9% COGS - F&B %31.6%34.2%92.5%30.9%102.6%34.3%407.9% PAYROLL Course and Grounds 1,640,823 1,547,217 106%1,447,883 113%2,071,977 2,158,156 Carts, Range, Starters, Etc.463,223 410,452 113%402,872 115%551,573 615,755 Food and Beverage 2,052,719 1,610,603 127%1,540,749 133%2,155,866 2,673,773 Pro Shop 490,773 504,143 97%461,618 106%680,580 659,636 Clubhouse Services 182,207 170,573 107%158,581 115%227,940 237,460 Academy 265,726 223,447 119%231,122 115%285,005 333,580 General and Administrative 397,979 412,065 97%406,226 98%568,821 554,767 Marketing 207,608 180,124 115%189,938 109%254,609 290,654 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- TOTAL PAYROLL 5,701,058 5,058,623 113%4,838,990 118%6,796,370 7,523,780 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- OPERATING EXPENSES Course and Grounds 1,439,378 1,349,692 107%1,364,313 106%1,718,803 1,826,956 Carts, Range, Starters, Etc.82,920 69,145 120%71,254 116%100,665 110,407 Food and Beverage 522,509 327,281 160%340,265 154%429,257 644,325 Pro Shop 66,658 65,064 102%47,731 140%107,040 74,031 Clubhouse Services 431,857 394,733 109%397,575 109%541,795 572,712 Academy 32,596 23,925 136%23,778 137%31,802 37,927 General and Administrative 512,730 423,760 121%433,190 118%546,010 665,023 Marketing 72,834 107,262 68%83,780 87%148,319 92,717 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- TOTAL OPERATING EXPENSES 3,161,481 2,760,862 115%2,761,887 114%3,623,691 4,024,098 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- TOTAL EXPENSES 10,433,654 9,085,662 115%8,860,095 118%12,049,954 13,579,015 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- EBITDA 2,358,133 1,762,927 134%2,442,315 97%1,747,567 2,992,784------------------------------------------------------------------------------------------------------------------------------------------------------------------ Item 5C-3 Desert Willow Golf Resort Standard Summary Income Statement For the Nine Months Ending March 31, 2023 YTD YTD % of YTD % of Annual Rolling Actual Budget Budget Prior Year PY Budget 12 Months EBITDA 2,358,133 1,762,927 134%2,442,315 97%1,747,567 2,992,784 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- MANAGEMENT FEES (194,578)(195,000)100%(187,500)104%(460,000)(472,628) -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- FINANCING ACITIVITY Interest Expense - Debt (12,307)(36,725)34%(36,327)34%(49,055)1,470 Interest Expense - Leases (40,474)(60,356)67%(28,302)143%(74,316)(47,543) Interest Income 63,653 277 22957%410 15510%367 68,101 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- TOTAL FINANCING ACTIVITY 10,873 (96,803)-11%(64,218)-17%(123,004)22,028 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- OTHER INCOME (EXPENSE) Non-Operating Revenue 75,600 75,750 100%75,600 100%101,100 100,800 Facility Rent (72,000)(72,000)100%(72,000)100%(96,000)(96,000) Depreciation & Amortization (846,566)(834,391)101%(834,391)101%(1,112,521)(1,147,946) Taxes (23,652)(22,920)103%(24,542)96%(22,856)(24,581) -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- TOTAL OTHER INCOME (EXPENSE)(866,618)(853,561)102%(855,333)101%(1,130,277)(1,167,727) -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- NET INCOME 1,307,811 617,563 212%1,335,264 98%34,287 1,374,458 ======================================================================================================== Paid Rounds 66,942 69,314 97%70,298 95%93,602 94,989 Other Rounds 1,762 1,152 153%1,687 104%1,764 2,094 Total Rounds 68,704 70,466 97%71,985 95%95,366 97,083 Revenue/Paid Rounds 191 157 122%161 119%147 174 Revenue/Total Rounds 186 154 121%157 119%145 171 Green Fees / Cart Fees per Paid Rounds 110 96 115%96 115%91 102 Green Fees / Cart Fees per Total Rounds 108 94 114%93 115%90 100 F&B Revenue/Total Rounds 52 38 137%41 128%36 48 Merchandise Revenue/Total Rounds 14 11 133%12 120%10 13 Item 5C-4 2018-2019 2019-2020 2020-2021 2021-2022 2022-2023 OPERATIONAL INCOME STATEMENT Actuals Actuals Actuals Actuals Estimated Beginning Cash Balance 3,327,774 3,596,022 2,374,599 3,817,067 4,911,679 REVENUES Green Fees & Cart Fees 7,080,240 5,582,594 7,481,139 9,060,713 9,870,914 Merchandise 809,498 713,947 785,205 1,060,234 1,167,967 Other Pro Shop 501,340 517,703 491,579 482,003 478,841 Range 43,827 35,476 67,454 77,941 72,665 Food & Beverage 2,869,768 2,216,719 2,181,902 3,975,953 4,744,535 Academy Merchandise 92,285 76,911 77,263 64,932 85,296 Other Academy 216,465 173,351 268,967 323,023 356,923 Other G&A Income 24,542 28,722 14,504 37,621 49,772 Transfer in from GF - - - - - TOTAL REVENUE 11,637,965 9,345,423 11,368,013 15,082,421 16,826,914 EXPENDITURES Cost of Good Sold 1,355,396 1,121,263 1,200,530 1,719,241 2,081,835 Payroll 5,264,339 5,171,186 5,410,712 6,661,711 7,714,446 Operating Expenses 3,086,672 2,954,736 2,918,415 3,624,504 4,162,481 Equipment/Leases 636,885 450,384 469,030 988,548 720,000 Other Expense 609,758 513,878 557,776 518,614 447,578 Loan Repayment from City ($1M still outstanding)- - - 500,000 500,000 Capital Improvement Plan Firecliff Golf Course Renovation - - - - 3,500,000 Annual DWGR Capital Replacement Expenditures 658,476 271,100 459,151 414,346 490,000 Annual Perimeter & DW Drive Expenditures 142,881 182,157 187,417 190,454 400,000 Total CIP 801,357 453,257 646,568 604,801 4,390,000 TOTAL EXPENDITURES 11,754,407 10,664,704 11,203,031 14,617,418 20,016,340 Net Surplus/(Deficit)(116,442) (1,319,281) 164,982 465,003 (3,189,426) Transfer in from Capital Reserve 657,435 367,697 577,065 464,767 700,000 Accrual to Cash Basis Adjustment (272,745) (269,839) 700,421 164,842 OPERATIONS RESERVE PLAN/ANALYSIS Ending DW Cash Balance/Reserve 3,596,022 2,374,599 3,817,067 4,911,679 2,422,252 Restricted for Outstanding Operational Loan 2,000,000 2,000,000 2,000,000 1,500,000 1,000,000 90 Day Operations Reserve 2,738,262 2,552,862 2,639,116 3,378,154 3,781,585 Reserve Surplus/(Deficit) *(1,142,240) (2,178,263) (822,049) 33,524 (2,359,333) * - Risk to General Fund *CIP Reserve is currently fully funded by Amenity Fee from TimeShares/Capital Reserve Fund Balance is held by the City. Desert Willow Golf Resort Budget and Cash Flow Analysis Item 5C-5 DWGR Round Mix Analysis For the Month Ended March 31, 2023 Rounds Dollars Category 2022/2023 %Budget %Variance 2021/2022 %Variance 2022/2023 %Budget %Variance 2021/2022 %Variance Public Rack 4,130 35%3,613 27%517 3,917 32%213 656,795$ 40%517,316 34%139,479$ 605,208$ 40%51,587$ Residents 1,109 9%2,012 15%(903) 1,330 11%(221) 57,472$ 4%98,897 6%(41,425)$ 69,156$ 5%(11,684)$ Outings 2,684 23%1,884 14%800 2,063 17%621 441,521$ 27%263,730 17%177,791$ 292,104$ 19%149,417$ Wholesale 1,546 13%1,945 14%(399) 2,104 17%(558) 210,733$ 13%214,936$ 14%(4,203)$ 241,143$ 16%(30,410)$ Loyalty/Special 2,434 20%4,159 31%(1,725) 3,004 24%(570) 260,480$ 16%435,747$ 28%(175,267)$ 293,457$ 20%(32,977)$ Total 11,903 13,613 (1,710) 12,418 (515) 1,627,001$ 1,530,626$ 96,374$ 1,501,068$ 125,933$ -13%-4%6%8% Comp/Employee 287 174 113 274 13 -$ -$ -$ -$ Total 12,190 13,788 (1,598) 12,692 (502) 1,627,001$ 1,530,626$ 96,374$ 1,501,068$ 125,933$ 2022/2023 Budget 2021/2022 Public Rack 159$ 143$ 155$ Residents 52$ 49$ 52$ Outings 165$ 140$ 142$ Wholesale 136$ 111$ 115$ Loyalty/Special 107$ 105$ 98$ Total 136.69$ 112.44$ 120.88$ Average Dollars per Round G:\Finance\Derek White\My Documents\Analytics\ADR Analysis Monthly Reports\2022-2023\ADR analysis 22-23 4/20/2023 Item 5C-6 DWGR Round Mix Analysis For the Nine Months Ending March 31, 2023 Rounds Dollars Category 2022/2023 %Budget %Variance 2021/2022 %Variance 2022/2023 %Budget %Variance 2021/2022 %Variance Public Rack 20,910 31%18,861 27%2,049 19,526 28%1,384 2,764,219$ 37%2,351,819$ 35%412,400$ 2,431,383$ 36%332,836$ Residents 7,852 12%7,839 11%13 7,850 11%2 391,969$ 5%390,844 6%1,125$ 381,867$ 6%10,102$ Outings 13,031 19%11,212 16%1,819 11,718 17%1,313 1,757,605$ 24%1,270,646 19%486,959$ 1,332,810$ 20%424,795$ Wholesale 11,170 17%11,838 17%(668) 12,560 18%(1,390) 1,213,021 16%1,098,653$ 17%114,368 1,160,658 17%52,363 Loyalty/Special 13,979 21%19,563 28%(5,584) 19,022 27%(5,043) 1,259,243$ 17%1,525,993$ 23%(266,750)$ 1,410,550$ 21%(151,307)$ Total 66,942 69,314 (2,372) 70,676 (3,734) 7,386,057$ 6,637,955$ 748,102$ 6,717,268$ 668,789$ -3%-5%11%10% Comp/Employee 1,762 1,152 610 1,309 453 -$ -$ -$ -$ Total 68,704 70,466 (1,762) 71,985 (3,281) 7,386,057$ 6,637,955$ 748,102$ 6,717,268$ 668,789$ 2022/2023 Budget 2021/2022 Public Rack 132$ 125$ 125$ Residents 50$ 50$ 49$ Outings 135$ 113$ 114$ Wholesale 109$ 93$ 92$ Loyalty/Special 90$ 78$ 74$ Total 110.34$ 95.77$ 95.04$ Average Dollars per Round G:\Finance\Derek White\My Documents\Analytics\ADR Analysis Monthly Reports\2022-2023\ADR analysis 22-23 4/20/2023 Item 5C-7 Desert Willow/PDRFC Statement of Cash Flows-Combined Indirect Method Reconciliation 3/31/2023 Cash Flows from Operating Activities Net Income (Loss)1,307,811 Adjustments to reconcile net loss to net cash provided by operating activities Depreciation & Amortization expense 846,566 Bad Debt expense - Gain on disposal of assets - (Increase) Decrease in assets Accounts Receivable (61,065) Due from Employees - Inventories (120,267) Prepaid expenses 4,027 Increase (Decrease) in liabilities Accounts Payable 521,635 Accrued Liabilities (297,700) Deferred Revenue 84,635 Interest - Due to Affiliates 72,000 1,049,831 Net cash flows from operating activities 2,357,642 Item 5C-8 Desert Willow/PDRFC Statement of Cash Flows-Combined Direct Method 3/31/2023 Cash Flows from Operating Activities Cash Received From Customers 12,608,651 Interest Received 63,653 Other Operating Cash Receipts 75,600 Cash Paid to Suppliers and Employees (10,313,829) Interest Paid (52,781) Taxes Paid (23,652) Net cash flows from operating activities 2,357,642 Cash Flows from Investing Activities Contributed Capital - Purchases of Property and Equipment (6,826,575) Proceeds from sale of Property and Equipment - Net cash flows from investing activities (6,826,575) Cash Flows from Financing Activities Loan proceeds-KSM/CITY - Principal payments 6,975,243 Net cash flows from financing activities 6,975,243 Net change in cash 2,506,310 Cash at beginning of period 4,911,680 Cash at end of period 7,417,990 Item 5C-9 DWGR F&B Revenue Analysis Year-to-Date Revenue Analysis 3/31/2023 Dining Analysis 2022.2023 2021.2022 Variance % Dining Covers 58,401 64,834 (6,433)-10% Dining Revenue 1,426,846$ 1,467,964$ (41,118)-3% Dining - Ave Check 24.43$ 22.64$ 1.79$ 8% Catering Analysis 2022.2023 2021.2022 Variance % Catering Covers 16,844 11,686 5,158$ 44% Catering Revenue 1,631,421$ 983,344$ 648,077$ 66% Catering Ave Check 96.85$ 84.15$ 12.71$ 15% Outlet Analysis 2022.2023 2021.2022 Variance % Outlet Rounds 68,639 71,977 (3,338)$ -5% Outlet Revenue 458,885$ 385,147$ 73,738$ 19% Outing Ave Check 6.69$ 5.35$ 1.33$ 25% Total F&B Revenue 3,517,152$ 2,836,455$ 680,697$ 24% 4/14/2023 Item 5C-10 2022.2023 July August September October November December January February March Dining Covers 2,493 2,232 3,222 5,344 8,091 4,780 7,996 9,969 14,274 Catering Covers 609 622 1,776 2,672 1,825 2,812 1,225 2,130 3,173 3,102 2,854 4,998 8,016 9,916 7,592 9,221 12,099 17,447 Dining Revenue 58,206$ 53,320$ 79,143$ 130,449$ 223,044$ 108,659$ 197,607$ 256,242$ 320,177$ Catering Revenue 27,779$ 50,761$ 105,412$ 347,003$ 194,570$ 219,101$ 101,182$ 269,151$ 316,462$ 85,985$ 104,081$ 184,554$ 477,452$ 417,614$ 327,760$ 298,789$ 525,393$ 636,639$ Dining - Ave Check 23.35$ 23.89$ 24.56$ 24.41$ 27.57$ 22.73$ 24.71$ 25.70$ 22.43$ Catering - Ave Check 45.61$ 81.61$ 59.35$ 129.87$ 106.61$ 77.92$ 82.60$ 126.36$ 99.74$ Outlet Revenue 18,415$ 12,700$ 37,835$ 64,612$ 46,955$ 36,303$ 70,822$ 82,368$ 88,874$ Rounds 5,952 4,166 6,000 7,504 6,961 5,811 9,885 10,170 12,190 $'s per Round 3.09$ 3.05$ 6.31$ 8.61$ 6.75$ 6.25$ 7.16$ 8.10$ 7.29$ 2021.2022 July August September October November December January February March Dining Covers 2,329 2,438 3,517 6,620 9,299 5,926 9,127 11,304 14,274 Catering Covers 531 241 846 2,091 1,788 1,663 742 1,546 2,238 2,860 2,679 4,363 8,711 11,087 7,589 9,869 12,850 16,512 Dining Revenue 53,314$ 51,089$ 78,284$ 143,499$ 210,002$ 135,512$ 199,563$ 266,395$ 330,307$ Catering Revenue 24,553$ 15,302$ 45,534$ 147,461$ 170,826$ 160,343$ 57,933$ 182,905$ 178,486$ 77,867$ 66,391$ 123,817$ 290,960$ 380,828$ 295,855$ 257,496$ 449,301$ 508,793$ Dining - Ave Check 22.89$ 20.96$ 22.26$ 21.68$ 22.58$ 22.87$ 21.87$ 23.57$ 23.14$ Catering - Ave Check 46.24$ 63.49$ 53.82$ 70.52$ 95.54$ 96.42$ 78.08$ 118.31$ 79.75$ Outlet Revenue 21,560$ 14,260$ 25,524$ 53,436$ 44,416$ 35,289$ 56,888$ 64,922$ 68,852$ Rounds 6,194 4,732 6,268 7,832 7,299 5,827 10,614 10,519 12,692 $'s per Round 3.48$ 3.01$ 4.07$ 6.82$ 6.09$ 6.06$ 5.36$ 6.17$ 5.42$ PDRFC COVER ANALYSIS G:\Finance\Accounting Documents\F&B REPORTS\F & B Daily Sales Report 22-23\F & B REVENUE REPORT 2022-2023Totals Item 5C-11 Item 5C-12 Item 5C-13 Item 5C-14 Item 5C-15 Item 5C-16 Item 5C-17 Item 5C-18 Item 5C-19 Item 5C-20 Item 5C-21 Item 5C-22 Item 5D-1 Item 5D-2 Item 5D-3 Item 5D-4 Item 5D-5 Item 5D-6 Item 5D-7 Item 5D-8 Item 5D-9 Item 5D-10 Item 5D-11 Item 5D-12 Item 5D-13 Item 5D-14 Item 5D-15 Item 5D-16 Item 5D-17 Item 5D-18 Item 5D-19 Item 5D-20 Item 5D-21 Item 5D-22 Item 5D-23 Item 5D-24 Item 5D-25 Item 5D-26 Item 5D-27 Item 5D-28 Item 5D-29 Item 5D-30 Item 5D-31 Item 5D-32 Item 5D-33 Item 5D-34 Item 5D-35 Item 5D-36 Item 5D-37 Item 5D-38 Item 5D-39 Item 5D-40 Item 5D-41 Item 5D-42 Item 5D-43 Item 5D-44 Item 5D-45 Item 5D-46 Item 5D-47 Item 5D-48 Item 5D-49 Item 5D-50 Item 5D-51 Item 5D-52 Item 5D-53 Item 5D-54 Item 5D-55 Item 5D-56 Item 5D-57 Item 5D-58 Item 5D-59 Item 5D-60 Item 5D-61 Item 5D-62 Item 5D-63 [This page has intentionally been left blank.] CITY OF PALM DESERT ATTENDANCE REPORT Advisory Body: Prepared By: Year 2022 2022 2022 2022 2022 2023 2023 2023 Month May Jul Sep Oct Nov Jan Mar May Date 24-May 26-Jul 27-Sep 25-Oct 22-Nov 24-Jan 28-Mar 31-May Alexander, Karen P --A P A P 2 2 Garcia, Carlos P --P P P P 0 0 Leo, Robert P --P P P P 0 0 Messenger, Faith P --P E E P 2 0 Wuest, Jake N/A --P P P P 0 0 Harnik, Jan *P --P P N/A N/A 0 0 Jonathan, Sabby *A --P A N/A N/A 2 2 Kelly, Kathleen *N/A --N/A N/A P P 0 0 Quintanilla, Karina *N/A --N/A N/A P P 0 0 Palm Desert Municipal Code 2.34.010: P Present A Absent E Excused -No meeting Finance Committee Michelle Nance Total Absences Total Unexcused Absences Bimonthly: Two unexcused absences from regular meetings in any twelve-month period shall constitute an automatic resignation of members holding office on boards that meet bimonthly. * Mayor and Mayor Pro Tem rotating positions are voting members of this Committee [This page has intentionally been left blank.]