Palm Springs Biltmore Condominiums III
Board Financial Package · FY2026 · Generated
CONFIDENTIAL · BOARD USE ONLY
Financial Overview
FY2026 · Sep 1, 2025 – Aug 31, 2026 · Financials through Mar 31, 2026 · Bank statement verified
Budget →
YTD Operating
($39.1K)
vs $0 budget · 7 of 12 months
LOSS
Reserves →
Reserve Balance
$341.3K
of $1,114K target
31%
Income →
Monthly Assessment
$512.79
per unit · 102 units
Current
AR →
AR — Collections
$28.8K
5 active collection accounts
ACTION
Reserve Fund Health
vs SCT Study target ($1,114,000)
UNDERFUNDED
Current monthly contribution
$18,450.00
SCT recommended
$19,202.76
Monthly shortfall
($752.76)
Study basis
Level III · Jul 2025
Top Budget Variances YTD
7 months through March 31, 2026
4 OVERRUNS
5341
Buildings & Grounds
$14,175
$39,443
+178%
5030
Gas
$23,333
$32,398
+39%
5520
Insurance
$30,317
$38,066
+26%
5040
Frontier / Telephone
$2,520
$8,090
+221%
5335
Plumbing
$8,288
$24,915
+201%
Active Capital Projects
2 in progress · FY2026
| Project | Building | Total Cost | Source | Status |
|---|---|---|---|---|
| Canyon Floor Carpet Replacement | All 4 buildings | $65,262 | Reserves | IN PROGRESS |
| Cast Iron Drain Stack #28 | 1552 S. Camino Real | $17,985 | Reserves | COMPLETE |
| 1510 Laundry Room Plumbing | 1510 S. Camino Real | $13,000 | Reserves | COMPLETE |
| 1552 1st Floor Laundry Drains | 1552 S. Camino Real | — | Operating | COMPLETE |
Budget vs Actual
FY2026 · 7 of 12 months · GL-level detail
All Categories
Utilities
Maintenance
Administrative
Income
| GL Code | Description | Annual Budget | 7-Mo Budget | YTD Actual | $ Variance | % Var | Status |
|---|---|---|---|---|---|---|---|
| Income | |||||||
| 4110 | Monthly Assessments | $627,660 | $366,135 | $372,797 | +$6,662 | +1.8% | OK |
| 4125 | Collection Reimbursement | — | — | $2,700 | — | — | OK |
| 4131 | Laundry Commission | $6,000 | $3,500 | $1,295 | ($2,205) | -63% | MONITOR |
| 4140 | Late Assessment Fees | — | — | $1,810 | — | — | OK |
| 4141 | Admin Fee / Late Charge | — | — | $310 | — | — | OK |
| 4142 | Bank Charge Reimbursement | — | — | $75 | — | — | OK |
| 4195 | Misc Income | $1,200 | $700 | $280 | ($420) | -60% | MONITOR |
| † GL 4150 Special Assessment Interest ($20,400/yr budget) — CIT loan retired Aug 2025; income no longer receivable. Removed from comparison; flagged to PPM for FY2027 budget removal. | |||||||
| Utilities | |||||||
| Overruns in this category reflect commodity price fluctuations and are being monitored. No corrective action required unless trend worsens. | |||||||
| 5020 | Electricity — pricing increase | $35,000 | $20,417 | $24,231 | ($3,814) | -19% | WARN |
| 5030 | Gas — seasonal + commodity | $40,000 | $23,333 | $32,398 | ($9,065) | -39% | WARN |
| 5040/5060 | Telecom — Frontier Internet + Spectrum Elevator VoIP | $44,712 | $26,082 | $12,399 | +$13,683 | +52% | OK |
| 5050 | Water | $21,600 | $12,600 | $13,908 | ($1,308) | -10% | OK |
| Buildings & Grounds Maintenance | |||||||
| 5335 | Plumbing — portion reclassifying to reserves | $14,208 | $8,288 | $24,915 | ($16,627) | -201% | PENDING RECODE |
| 5341 | Buildings & Grounds — portion reclassifying to reserves | $24,300 | $14,175 | $39,443 | ($25,268) | -178% | PENDING RECODE |
| 5344 | Carpet Cleaning | $4,320 | $2,520 | $0 | +$2,520 | +100% | RESERVE PROJECT |
| 5366 | Elevator Repairs | $11,000 | $6,417 | $440 | +$5,977 | +93% | OK |
| Administrative | |||||||
| 5520 | Insurance | $51,972 | $30,317 | $38,066 | ($7,749) | -26% | SENT TO PPM |
| 5530 | Management Service | $36,000 | $21,000 | $20,993 | $7 | +0% | OK |
Reserve Fund
SCT Reserve Consultants · Level III Study July 2025 · Michael C. Graves RS #00039
Current Status
4% Inflation Model ↗
Component Detail
Fund Balance
$341.3K
Book Balance $340,623 · as of Mar 31, 2026
% of FY2026 Target
81%
of $422K FY2026 study target (SCT 2025)
Monthly Contribution
$18,450
SCT recommends $19,203
FY2026 Study Target
$422K
SCT recommended opening balance · full funding = $1,114K
Funding Status vs Target
The July 2025 Level III study is a financial update only — no site inspection. It is based on a June 2024 site inspection.
Drain & Stack Maintenance
Cast iron stack replacements and laundry drain repairs are managed reactively — addressed when a failure is identified (typically via water leak). Not tracked as reserve components.
Reserve Scenario Modeler
Model funding outcomes under different inflation and ROI assumptions · Based on SCT Level III July 2025
Model
Scenario Compare
Missing Components
Assessment Impact
Projected Balance — 5 Years
$0
% of inflation-adjusted target
Projected Balance — 10 Years
$0
% of inflation-adjusted target
Years to Reach 70% Funded
—
At current contribution rate
Year-by-Year Projection
Next 15 years · Contributions + ROI vs inflation-adjusted target
| Year | FY End | Contributions YTD | Balance (w/ ROI) | Inflation-Adj Target | % Funded | Gap |
|---|
AR Delinquency
As of April 6, 2026 · PPM AR Aging Report · 17 accounts · $36,721.63 total AR
Total AR
$36.7K
17 accounts · April 6 report
Largest Balance
$17.7K
Vega #117 — atty prep
Lien / Filed
2 units
Vega (atty), Scudder (lien filed)
Recently Cleared
3 units
Tracy · D'Angelo · Brown
1550 S. Camino Real #117 — Vega
Coll Status: Prep Docs for Attorney (escalated from NOD)
$17,677.46
1552 S. Camino Real #134 — Kuykendall-Barrett
Coll Status: File on hold — Archer
$4,777.19
1500 S. Camino Real #101 — Scudder
Coll Status: Lien Filing — Guralnick Gilliland Garcia
$3,429.04
1550 S. Camino Real #317 — Vahey
Coll Status: Reminder Notice
$1,487.26
1510 S. Camino Real #214A — White
Coll Status: Lien Approval Board
$549.55
1550 S. Camino Real #322 — Tracy
SETTLED 3/23/2026
$0.00
1510 S. Camino Real #216 — Halliday
NOT PAID · Common Area – Debris Disposal
$286.00
Capital Projects
Active and completed reserve-funded projects · FY2026
Canyon Floor Carpet Replacement — All 4 Buildings
Total
$65,262
Deposit Paid
$32,631
Remaining
$32,631
Source
Reserves
Cast Iron Drain Stack #28 Replacement
Actual Cost
$17,985.00
Paid
03/10/2026
Source
Reserves
In Reserve Study
No — reactive
1510 First Floor Laundry Room — Major Plumbing Failure
Cost
$13,000
Source
Reserves
1552 First Floor Laundry Room Cleanout Drains
Source
Operating
Cast Iron Stack Replacement Tracker
Source: STACK_TRACKER.xlsx · Updated April 9, 2026 · Reactive maintenance — not a reserve component
28% COMPLETE
TOTAL STACKS
92
residential
COMPLETED
26
28%
REMAINING
66
72%
LAUNDRY AREAS
3/4
1550 pending
By Stack Type
| Stack Type | Total | Completed | Remaining | % Done |
|---|---|---|---|---|
| Kitchen | 34 | 11 | 23 | 32% |
| Master Bath | 34 | 12 | 22 | 35% |
| Guest Bath | 24 | 3 | 21 | 13% |
| Total | 92 | 26 | 66 | 28% |
HOA Assistant
Ask any question about finances, governing documents, operations, or reserve planning · Answers cited to source
Suggested Questions
What is our FY2026 reserve fund balance?
What is our current reserve funding percentage?
What is the monthly assessment per unit?
What are our top budget overruns this year?
Can we raise assessments more than 20% without a member vote?
What is the process for levying a Special Assessment?
What is the board's liability for water damage inside a unit?
How many days notice is required before a board meeting?
What is the $25,000 water damage deductible policy?
What did we pay Joe Walsh this fiscal year?
What is the status of the stack replacement program?
What rights does a first mortgagee have to review HOA records?
Document Library
Governing documents, financials, and reference files
Drop documents here or click to upload
PDF · CC&Rs · Bylaws · Reserve Study · Financial PDFs
Governing Documents
| Document | Type | Pages | Uploaded | AI Ready |
|---|---|---|---|---|
| CC&Rs (Doc 00318849-7) | Governing | 70 | In Project | ✓ Active |
| Amended & Restated Bylaws 2018 | Governing | 35 | In Project | ✓ Active |
| Articles of Incorporation 1973 | Governing | 12 | In Project | ✓ Active |
| SCT Reserve Study July 2025 | Reserve | — | In Project | ✓ Active |
| Proposed Budget FY2026 | Financial | 2 | In Project | ✓ Active |
Data Validation
33-point financial accuracy framework · FY2026 through March 31, 2026
4
FAIL
10
WARN
6
GAP
13
PASS
Critical Failures
4 FAIL
| # | Check | Category | Finding | Status |
|---|---|---|---|---|
| Q14 | Insurance budget vs actual | Budget Accuracy | GL 5520 $38,066 actual vs $30,317 7-mo budget — 26% overrun ($7,749) | SENT TO PPM |
| Q28 | AR 90+ day concentration | Delinquency | April 6 AR: $36,721 total (17 accounts) — Vega $17.7K (atty prep); Scudder lien filed; Kuykendall-Barrett file on hold; Halliday $286 unpaid chargeback | FAIL |
Data Gaps
6 GAP
| # | Gap | Impact | Status |
|---|---|---|---|
| G1 | Account 1906 — Deferred Special Assessment $88,379.43 | Balance sheet overstated; phantom asset | SENT TO PPM |
| G2 | Frontier per-unit service assignment list | Cannot confirm which units have active "Biscuit" service | AWAITING |
| G5 | FY2025 year-end CPA review | Cannot confirm prior-year closing balances | NOT AVAILABLE |
| G6 | Homeowner contact details — incomplete directory | AI owner lookup partially degraded | IN PROGRESS |
Upload Financial PDFs
Drop monthly PDFs from Personalized Property Management — Claude extracts and imports data automatically
Drop monthly PDFs here or click to select
RevANDExps · BalanceSheetwithGLCodes · paidInvoicesByServiceProvider · Annual_Budget_Comparison
Imported Financial Data
Updates dashboard automatically on import
| PDF Type | Contents | Last Imported | Period | Status |
|---|---|---|---|---|
| RevANDExps | Revenue & Expense P&L | — | — | PENDING |
| BalanceSheet | Balance Sheet + GL | — | — | PENDING |
| PaidInvoices | Vendor invoice detail | — | — | PENDING |
| BudgetComparison | YTD budget vs actual | — | — | PENDING |
How automatic import works
1. Drop PDFs — any or all 4 monthly files from Caren, in any order
2. Text extracted — PDF.js reads the file client-side; nothing uploaded to any server
3. Parse mode: if a Claude API key is set in Settings, Claude identifies and extracts all GL data precisely. Without a key, a built-in local pattern parser handles standard PPM report formats automatically — no API needed.
4. Dashboard updates — KPI cards, budget vs actual, AR aging, and capital project log refresh automatically
5. Data persists — imported data saved to localStorage; survives page refresh
2. Text extracted — PDF.js reads the file client-side; nothing uploaded to any server
3. Parse mode: if a Claude API key is set in Settings, Claude identifies and extracts all GL data precisely. Without a key, a built-in local pattern parser handles standard PPM report formats automatically — no API needed.
4. Dashboard updates — KPI cards, budget vs actual, AR aging, and capital project log refresh automatically
5. Data persists — imported data saved to localStorage; survives page refresh
⬛ Parse mode: LOCAL (no API key)
API mode: higher accuracy, handles non-standard layouts
Bank Statements
Pacific Western Bank (Banc of California) · Account 5002-00000295 · March 31, 2026
Operating Checking
$238,541
Bank Statement · Book Balance $227,708 · 3/31/2026
RECONCILED
Reserve MMA
$341,300
Bank Statement · Book Balance $340,623 · $677 gap (void pending) · 3/31/2026
31% FUNDED
Total Cash — All Accounts
$579,841
Operating + Reserve · Mar 31, 2026
VERIFIED
HOA Analyzed Business Checking — Operating (XXXXXX2975)
Warfield Enterprises, Inc., Agent · Banc of California · Statement Period: Mar 1–31, 2026
RECONCILED
OPENING BALANCE (2/28)
$231,911.94
TOTAL CREDITS
+$53,256.72
TOTAL DEBITS
−$46,627.64
ENDING BALANCE (3/31)
$238,541.02
Key ACH Debits
| Date | Vendor | Amount |
|---|---|---|
| 02-03 | Reserve Transfer (to 1754) | $18,450.00 |
| 02-03 | First Insurance Funding | $3,852.71 |
| 02-06 | Frontier Communications | $4,125.98 |
| 02-05 | Desert Water Agency (×7) | $1,731.12 |
| 02-24 | SoCal Gas (×3) | $6,783.97 |
| 02-23 | So Cal Edison | $2,577.87 |
| 02-24 | Palm Springs District | $1,782.09 |
| 02-11/13/17 | Spectrum (×4) | $720.19 |
| 02-03 | Palm Springs Bil Refund | $901.61 |
Checks Paid (16 enclosures)
| Chk | Date | Amount |
|---|---|---|
| 576 | 02/04 | $930.00 |
| 578 | 02/04 | $525.45 |
| 580 | 02/05 | $33.90 |
| 582 | 02/10 | $315.00 |
| 584 | 02/06 | $180.00 |
| 585 | 02/06 | $3,400.00 |
| 587 | 02/19 | $49.50 |
| 588 | 02/10 | $505.00 |
| 589 | 02/17 | $675.00 |
| 591* | 02/23 | $744.40 |
| 592 | 02/26 | $450.00 |
| 593 | 02/19 | $179.63 |
| 594 | 02/23 | $1,127.00 |
| 595 | 02/19 | $49.50 |
| 596 | 02/20 | $3,463.33 |
| 597 | 02/23 | $310.00 |
* Skip in check sequence · Checks 577, 579, 581, 583, 586, 590 outstanding or void
HOA Business MMA Analyzed — Reserve Fund (XXXXXX1754)
Personalized Property Mgmt Co., Agent · Banc of California · Statement Period: Mar 1–31, 2026 · APY 0.75%
31% FUNDED
OPENING BALANCE (2/28)
$345,458.59
TOTAL ADDITIONS
+$18,673.46
Transfer $18,450 + Interest $223.46
TOTAL DISBURSEMENTS
−$23,508.70
Best Price Plumbers (ACH + Ck 50) · Namloop/Pool Care Solutions (Ck 48 + 49)
ENDING BALANCE (3/31)
$341,299.89
Disbursements — March 2026
| Date | Payee | Ck# | Amount |
|---|---|---|---|
| 03/10 | Best Price Plumbers — Stacks 128/228/328 (Inv #9306) | ACH | $17,985.00 |
| 03/03 | Namloop (Pool Care Solutions) — spa repairs | 48 | $1,495.00 |
| 03/05 | Namloop (Pool Care Solutions) — spa repairs | 49 | $1,628.70 |
| 03/31 | Best Price Plumbers — 1552 laundry cleanouts (Inv #9323) | 50 | $2,400.00 |
| Total Disbursements | $23,508.70 | ||
Interest & Rate Info
APY Earned0.75%
Interest-Bearing Days31
Net Reserve Change($4,835.24)
Interest Earned Mar$223.46
Interest Earned YTD$1,644.72
⚠ Reserve — Book vs Bank Statement Discrepancy — Being Resolved
Bank Statement: $341,299.89 · Book Balance: $340,623.35 — $677 gap. Gold Star Painting Check #141 (6/14/2023, prior management) posted to Bank Statement but never to books. Caren voiding 4/7/2026; expect to clear in April package.
Bank Statement: $341,299.89 · Book Balance: $340,623.35 — $677 gap. Gold Star Painting Check #141 (6/14/2023, prior management) posted to Bank Statement but never to books. Caren voiding 4/7/2026; expect to clear in April package.
Daily Balance Snapshot — Operating Account (2975)
March 2026
| Date | Balance | Date | Balance | Date | Balance |
|---|---|---|---|---|---|
| 02/28 | $231,911.94 | Opening balance (prior month end) | |||
| 03/31 | $238,541.02 | Ending balance — assessment collections received | |||
Ending balance 3/31/2026: $238,541.02 · Net change from Feb: +$6,629.08 · March assessment income $53,256.72
FY2026 Deposit Register Summary
September 1, 2025 – March 31, 2026 · Both Accounts · Source: Deposit Register Report
7 MONTHS
Operating Account (2975) — Credits
| Category | Amount |
|---|---|
| Monthly Assessments (102 units × 7 mo) | ~$385,625.22 |
| Laundry Income (CoinMach, Oct 30) | $1,294.84 |
| Total Operating Deposits FY2026 | $386,920.06 |
Notable: Acct 29550856 (Scudder #101) — $2,000 delinquency payment 2/15/2026 + $1,000 guest payment 3/9/2026 (via jmscudder@yahoo.com). Acct 29550866 on regular ESC (escrow) check schedule. Accts 29550846 (Ck#0011) and 29550825 (Ck#0596) on recurring payment plans.
Reserve Account (1754) — Credits
| Category | Amount |
|---|---|
| Monthly Transfers from Operating (7 × $18,450) | $129,150.00 |
| Interest Earned FY2026 (0.75% APY) | $1,644.72 |
| Total Reserve Deposits FY2026 | $130,794.72 |
Interest Breakdown: Sep $232.61 · Oct $245.42 · Nov $238.90 · Dec $241.69 · Jan $243.63 · Feb $219.01 · Mar $223.46 = $1,644.72
FY2026 Grand Total (Both Accounts): $517,714.78 in deposits ·
Operating $386,920.06 · Reserve $130,794.72 ·
Source: Deposit Register Report 9/1/2025–3/31/2026 (filed 4/4/2026)
Special Assessment Operating — XXXXXX3520 ·
Warfield Enterprises, Inc., Agent · Banc of California · Mar 1–31, 2026 ·
No activity this statement period. Beginning balance: $0.00 · Ending balance: $0.00 · All fees: $0.00
Settings
Association configuration and platform preferences
Association
Displayed in header and reports
Month the FY begins
Reserve Fund
Fully funded balance per current reserve study
AI / Document Query
Required for CC&R query and document AI features