Agenda — Indian Wells City Council, August 3, 2022

SPECIAL CITY COUNCIL
Meeting Agenda
Wednesday, August 3, 2022
1:30 p.m.

Council Chamber and Remotely through Zoom in compliance with Government Code Section 54953(e) (AB 361)
44950 Eldorado Drive, Indian Wells
Welcome to a meeting of the Indian Wells City Council. The Special meeting will be available on via zoom teleconference: Webinar ID 869 0089 2920 or by phone dial 1-669-900-9128. A password will be required to join the Zoom meeting, please email [email protected] or call City Hall at (760) 346-2489 to request password prior to the meeting.

Speakers will be alerted when their time is up. To address the Council during the virtual live session via zoom during the specific agenda item, please use the “raise your hand” function on zoom in order to be recognized by the City Clerk in order to provide comments in real time.

In accordance with State Law, remarks during public comment are to be limited to subjects within the City's jurisdiction. Remarks on other agenda items will be limited to those items. Remarks from those seated or standing in the back of the chambers will not be permitted. All those wishing to speak including City and Staff need to be recognized by the Mayor before speaking. Please turn off all communication devices (phones) or put them on non-audible mode (vibrate) so as not to cause a disruption in the Council proceedings. All documents for public review are available for public inspection at City Hall reception, 44-950 Eldorado Drive, Indian Wells during normal business hours.

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A. CONVENE THE CITY COUNCIL AND PLEDGE OF ALLEGIANCE

MAYOR DANA REED

MAYOR PRO TEM DONNA GRIFFITH

COUNCIL MEMBER GREG SANDERS

COUNCIL MEMBER RICHARD BALOCOO

COUNCIL MEMBER ROB BERNHEIMER
B. APPROVAL OF THE FINAL AGENDA
C. PROCLAMATIONS AND PRESENTATIONS

C.1. Introduction of Indian Wells Staff Housing Manager Jamie Rodny and Administrative Assistant Jennifer Aguilar
D.PUBLIC COMMENTS
Members of the public who wish to comment on a particular item on the special- meeting agenda should fill out a blue slip and submit it to the City Clerk.

Comments are limited to 3 minutes, speakers will be alerted when their time is up. Speakers are then to return to their seats and no further comments will be permitted.

To address the Council during the virtual live session via zoom during the specific agenda item, please use the “raise your hand” function on zoom in order to be recognized by the City Clerk in order to provide comments in real time.

Because this is a special meeting, public comment will be taken only on an items listed on the agenda. Please note that while the City Council values your comments, the Council cannot respond nor take action until such time as the matter may appear on the forthcoming agenda.

E.CITY MANAGER'S REPORTS
The City Manager or Department Heads may make brief announcements, informal comments, or brief the Council on items of interest.

F.CITY ATTORNEY REPORTS AND COMMENTS
G.CONSENT CALENDAR
All matters listed on the Consent Calendar are considered to be routine and will be approved by one motion. Reading of text of Ordinances is waived and Ordinances are adopted as second reading, by title only. There will be no separate discussion of these items unless members of the Council or audience request that specific items be removed from the Consent Calendar for separate discussion and action.

G.1. Findings to Hold Remote Teleconference/Virtual Meetings and Hybrid 6 (i.e., In-Person and Teleconference/Virtual) Meetings for All City Legislative Bodies, in Accordance with Assembly Bill 361 RECOMMENDED ACTION:

Council APPROVES remote teleconference/virtual and hybrid meetings for all City legislative bodies by finding that a statewide state of emergency is currently in place and that state and local officials have imposed or recommended measures to promote social distancing in connection with COVID-19; and
AUTHORIZES City Manager to implement teleconference/virtual or hybrid public meetings as needed in accordance with Assembly Bill 361.

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G.2. July 7, 2022 City Council Meeting Minutes 8
RECOMMENDED ACTION:

Council APPROVES the July 7, 2022 City Council Meeting Minutes.

G.3. Supplemental Appropriation for Highway 111 Phase I Rehabilitation 16 Project
RECOMMENDED ACTION:

Council AWARDS contract to Vance Corporation for $1,005,114 for Rehabilitation of Highway 111; and
AUTHORIZES and DIRECTS the City Manager to execute an agreement for the same; and
APPROVES supplemental appropriation for $555,625 to fund the Highway 111 Phase 1 Rehabilitation project; and
AUTHORIZES Finance to make the necessary budgetary adjustments G.4. City Treasurer's Report for June 2022 18
RECOMMENDED ACTION:

Council RECEIVES and FILES the City Treasurer’s Report for June 2022.

G.5. Supplemental Appropriation to Increase Budget for On-Call Planning and 37 Environmental Contract Services
RECOMMENDED ACTION:

Council APPROVES supplemental appropriation of $75,000 for on-call planning and environmental consulting services relating to plan check review, environmental studies, and processing of conditional use permits for various projects; and
AUTHORIZES Finance to make the necessary budgetary adjustments.

H. GENERAL BUSINESS
The Mayor will call upon the members of the public to address the Council regarding the agenda item being considered. After the public has provided comment, the item is closed to further comment and brought to the Council for discussion and action.

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H.1. Mid-Term Update to Indian Wells Golf Resort Operating Budget 38 RECOMMENDED ACTION:

Council AMENDS the Goal Oriented Golf Resort Operating for the Fiscal Year 2021-22 through 2022-23 as presented on July 7, 2022; or AMENDS the Conservative Approach Golf Resort Operating for the Fiscal Year 2021-22 through 2022-23 as updated on August 3, 2022 I. COUNCIL MEMBERS' REPORTS AND COMMENTS
On their own initiative, Council Members may make a brief announcement or a brief report on their own activities. Council Members may ask a question for clarification, make a referral to staff, or take action to have staff place a matter of business on a future agenda. The Council may take action on items listed on the Agenda.

I.1. Council Member Bernheimer
Cove Communities Commission
Coachella Valley Animal Campus
CVAG Homelessness Committee
Desert Sands Unified School District
Indian Wells Community Activities
Indian Wells Golf Resort Advisory Committee
I.2. Council Member Balocco
Coachella Valley Energy Commission
Cove Communities Services Commission
Indian Wells Golf Resort Advisory Committee
Indian Wells Finance & Legal Services Oversight Committee Indian Wells Marketing Committee
Indian Wells Public Safety
I.3. Council Member Sanders
Coachella Valley Mountains Conservancy
Coachella Valley Economic Partnership
CVAG Public Safety Committee
Desert Sands Unified School District
Indian Wells Public Safety Committee
Visit Greater Palm Springs

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I.4. Mayor Pro Tem Griffith
CVAG Coachella Valley Conservation Commission
CVAG Energy & Environmental Resources Committee
Indian Wells Grants In Aid Committee
Indian Wells Finance & Legal Services Oversight Committee Indian Wells Personnel Committee
Indian Wells Tee Committee
I.5. Mayor Reed
California Joint Powers Insurance Authority Riverside County Transportation Commission CVAG Executive Committee
CVAG Transportation Committee
Indian Wells Marketing Committee
Indian Wells Personnel Committee
Indian Wells Tee Committee
Sunline Transit Agency
J. ADJOURNMENT
To a regularly scheduled meeting of the City Council to be held at 1:30 p.m. on September 15, 2022 in the City Hall Council Chamber and Zoom/Teleconference.

In compliance with the Americans with Disabilities Act, if you need special assistance to participate in this meeting, please contact the City Clerk at (760) 346-2489. Notification 48 hours prior to the meeting will enable the City to make reasonable arrangements to ensure accessibility to this meeting. 128 CFR

35.102.35.104 ADA Title III
Affidavit of Posting
I, Angelica Avila, certify that on July 29, 2022 I caused to be posted a notice of a Special City Council Meeting to be held on August 3, 2022 at 1:30 p.m. in the City Hall Council Chamber and Zoom/Teleconference.

Notices were posted at Indian Wells Civic Center and City's Website [ www.cityofindianwells.org]
________________________
Angelica Avila, City Clerk

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INDIAN WELLS CITY COUNCIL
August 3, 2022
Staff Report: City Attorney
Subject: Findings to Hold Remote Teleconference/Virtual Meetings and Hybrid Meetings for All City Legislative Bodies, in Accordance with Assembly Bill 361
RECOMMENDED ACTION:

BACKGROUND:

All meetings legislative bodies of the City are subject to the Ralph M. Brown Act (Gov.

Code §§ 54950 et seq.), and must be open and public so that any member of the public may attend and participate in the meetings. Commencing in March of 2020, Governor Newsom issued a series of executive orders aimed at preventing the spread of a respiratory disease that came to be known as the novel coronavirus, “COVID-19.” Among these were Executive Orders (“EO”) N-25-20, N-29-20, and N-35-20 (collectively, the “Brown Act Orders”) that waived the teleconferencing requirements of the Brown Act to allow legislative bodies to meet virtually.

On June 11, 2021, the Governor issued EO N-08-21 to begin winding down some of the prior measures that were adopted to respond to COVID-19. Notably, EO N-08-21 rescinded the Brown Act Orders, effective September 30, 2021. On September 16, 2021, Governor Newsom signed AB 361, which became effective October 1, 2021, and amended the Brown Act to allow legislative bodies to meet virtually, without following the Brown Act’s standard teleconferencing rules, provided that the legislative body makes specific findings, which include the following: (1) a statewide state of emergency is currently in place; and (2) state or local officials have imposed or recommended measures to promote social distancing in connection with COVID-19.

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Continued compliance with AB 361 will require the City Council to approve the action making the required findings every 30 days (or at the next Council meeting, if greater than 30 days).

Analysis:

The Governor has proclaimed a state of emergency in response to the ongoing COVID - 19 pandemic. The state of emergency currently remains in effect. Further, State officials — including the California Department of Public Health — and local officials have recommended measures to promote social distancing in connection with COVID-19, which are currently in place. Accordingly, both of the above-referenced findings required by AB 361 exist.

The City Council recognizes that a person’s ability to attend and participate in person might change suddenly, depending on the person’s exposure to the virus, or changes in the person’s own health and vulnerability to infection. The Council recognizes that members of the public, and from time-to-time, members of the Council and of other City legislative bodies, as well as City staff might need to or might feel more comfortable attending meetings virtually in light of the ongoing COVID-19 pandemic and the manner in which circumstances surrounding the pandemic, including the impact on individual and public health, may rapidly change. Accordingly, the City Council thus desires to allow for virtual or hybrid (in-person and virtual) meetings of all the City’s legislative bodies in order to both ensure the health and safety of the public, City officials, and City staff, as well as continuity of government in allowing regularly scheduled meetings to continue to occur without unanticipated interruption.

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INDIAN WELLS CITY COUNCIL
August 3, 2022
Staff Report: City Clerk
Subject: July 7, 2022, City Council Meeting Minutes
RECOMMENDED ACTION:

Council APPROVES the July 7, 2022, City Council Meeting Minutes.

ATTACHMENTS:

1.July 7, 2022, Unofficial Minutes

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Welcome to a meeting of the Indian Wells City Council. The meeting will be available on the City's website or streamed via zoom teleconference: Webinar ID 828 2173 7962 or by phone dial 1-669-900-9128. A password will be required to join the Zoom meeting, please email [email protected] or call City Hall at (760) 346-2489 to request password prior to the meeting.

Members of the Public who wish to speak during public comment on a particular item on the Special agenda should fill out a blue slip and submit it to the City Clerk, comments will be limited to 3 minutes. Speakers will be alerted when their time is up. Speakers are then to return to their seats and no further comments will be permitted. To address the Council during the virtual live session via zoom during the specific agenda item, please use the “raise your hand” function on zoom in order to be recognized by the City Clerk in order to provide comments in real time.

City Council
Meeting Minutes
Thursday, July 7, 2022
1:30 PM
44950 Eldorado Drive, Indian Wells

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July 7, 2022City Council Meeting Minutes

1.CONVENE THE CITY COUNCIL, PLEDGE OF ALLEGIANCE AND ROLL CALL Mayor Reed convened the City Council of the City of Indian Wells at 1:30 p.m. on July 7, 2022 in the City Hall Council Chamber and Videoconference.

Mayor Reed, Mayor Pro Tem Griffith, Council Member Sanders, Council Member Balocco, Council Member Bernheimer

Present: 5 -

2. APPROVAL OF THE FINAL AGENDA
A motion was made by Council Member Sanders, seconded by Council Member Bernheimer to Approve the Agenda as Submitted. The motion carried by the following vote:

AYES:Reed, Griffith, Sanders, Balocco, Bernheimer5 -
NOES: 0

3. PROCLAMATIONS AND PRESENTATIONS
A.Introduction of Indian Wells City Staff Maria Alvarez City Manager Christopher Freeland introduced new City staff Administrative Assistant Maria Alvarez.

4.PUBLIC COMMENTS
Ms. Jacqueline Bradley, resident, expressed appreciation relating to public meetings and thanked the Council for continuing to conduct meetings during the summer months.

5.CITY MANAGER'S REPORTS
City Manager Christopher Freeland reported Coffee with the City Manager is scheduled on Wednesday July 13, 2022 at 8:00 a.m. There was discussion on concerns raised relating the Indian Wells County Club bridge. Mr. Freeland reported an evaluation is being conducted and an update would be provided in the coming days.

6.CITY ATTORNEY REPORTS AND COMMENTS
City Attorney Todd Leishman reported on Assembly Bill (AB) 1944 and 2249 relating to existing law Ralph M Brown Act requirements for remote meeting access. He reported updates would be provided on AB 2249 as it moves forward.

7.CONSENT CALENDAR
A motion was made by Council Member Bernheimer, seconded by Council Member Sanders, that this be Approved. The motion carried by the following vote:

AYES:Reed, Griffith, Sanders, Balocco, Bernheimer5 -
NOES:0

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July 7, 2022City Council Meeting Minutes
A.Findings to Hold Remote Teleconference/Virtual Meetings and Hybrid (i.e., In-Person and Teleconference/Virtual) Meetings for All City Legislative Bodies, in Accordance with Assembly Bill 361 It was determined to APPROVE remote teleconference/virtual and hybrid meetings for all City legislative bodies by finding that a statewide state of emergency is currently in place and that state and local officials have imposed or recommended measures to promote social distancing in connection with COVID-19; and
AUTHORIZE City Manager to implement teleconference/virtual or hybrid public meetings as needed in accordance with Assembly Bill 361.

This Recommendation was Approved.

B.Authorize the City’s Non-Participation in the Three-Year Urban County Program of the County of Riverside Economic
Development Agency for Federal Fiscal Years 2023-24, 2024-25 and 2025-26
F.

It was determined to AUTHORIZE the non-participation in the Urban County Program of the County of Riverside Economic Development Agency for Federal Fiscal Years 2023-24, 2024-25 and 2025-26.

This Recommendation was Approved.

June 8, 2022, Special Council Meeting Minutes
It was determined to APPROVE the June 8, 2022, Special Council Meeting Minutes.

The Minutes were Approved.

June 16, 2022, City Council Meeting Minutes
It was determined to APPROVE the June 16, 2022, City Council Meeting Minutes.

The Minutes were Approved.

City Treasurer’s Report for May 2022
It was determined to RECEIVE and FILE the City Treasurer’s Report for May 2022.

This Recommendation was Received and Filed.

Approval of the Consent Agenda
A motion was made by Council Member Bernheimer, seconded by Council Member Sanders to Approved the Consent Agenda. The motion carried by the following vote:

AYES:Reed, Griffith, Sanders, Balocco, Bernheimer5 -
NOES: 0

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July 7, 2022City Council Meeting Minutes
C.April 11, 2022, Joint City Council/Planning Commission Workshop Minutes
It was determined to APPROVE the April 11, 2022, Joint City Council/Planning Commission Workshop Minutes.

A motion was made by Council Member Bernheimer, seconded by Council Member Sanders, that the Minutes be Approved. The motion carried by the following vote:

AYES:Reed, Griffith, Sanders3 -
NOES: 0
ABSTAIN:Balocco, Bernheimer2 -
D.May 19, 2022, City Council Meeting Minutes
It was determined to APPROVE the May 19, 2022, City Council Meeting Minutes.

A motion was made by Council Member Bernheimer, seconded by Council Member Sanders, that the Minutes be Approved. The motion carried by the following vote:

AYES:Reed, Griffith, Sanders, Balocco4 -
NOES: 0
ABSTAIN:Bernheimer1 -
E.June 2, 2022, City Council Meeting Minutes
It was determined to APPROVE the June 2, 2022, City Council Meeting Minutes.

A motion was made by Council Member Bernheimer, seconded by Council Member Sanders, that the Minutes be Approved. The motion carried by the following vote:

AYES:Reed, Griffith, Sanders, Bernheimer4 -
NOES: 0
ABSTAIN:Balocco1 -

8. PUBLIC HEARINGS
No public hearing items.

9. GENERAL BUSINESS

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July 7, 2022City Council Meeting Minutes
A.Memorandum of Understanding Approving a Two-Year
$200,000 Financial Support for CVAG’s Coachella Valley
Housing First Program
CVAG Assistant Executive Director Erica Felci provided an overview of the Coachella Valley Housing First Program and thanked the Council for their support. Ms. Felci clarified questions raised relating to law enforcement funding.

It was determined to APPROVE a two-year Memorandum of Understanding (MOU) with the Coachella Valley Association of Governments to provide funding toward their Coachella Valley (CV) Housing First Program; and
AUTHORIZE the City Manager to execute all necessary documents for same; and APPROVE a Supplemental Appropriation of $100,000 for the Fiscal Year 2022-2023; and DIRECT Staff to include $100,000 for the Fiscal Year 2023-2024 in the upcoming two-year budget for future adoption.

A motion was made by Council Member Bernheimer, seconded by Council Member Sanders, that this Recommendation be Approved. The motion carried by the following vote:

AYES:Reed, Griffith, Sanders, Balocco, Bernheimer5 -
NOES: 0
B.Mid-Term Update to Indian Wells Golf Resort Operating and Capital Budgets
It was determined to APPROVE the Golf Resort Capital Budget for Fiscal Year 2021-22 through 2022-23 as presented and DIRECT staff to provide additional information of the Operating Budget to be presented at a future meeting.

A motion was made by Council Member Bernheimer, seconded by Council Member Sanders, that this Recommendation be Approved As Amended. The motion carried by the following vote:

AYES:Reed, Griffith, Sanders, Balocco, Bernheimer5 -
NOES: 0

10. COUNCIL MEMBERS' REPORTS AND COMMENTS

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July 7, 2022City Council Meeting Minutes
A.Council Member Bernheimer
Council Member Bernheimer reported Cove Community Commission provided a public safety update and conducted there annual award luncheon to honor sheriff and fire personnel for their exceptional service. There was discussion concerning a plaque located at the Indian Wells Golf Resort that honors passed Council Members and staff for their contributions. Mr. Bernheimer requested Council consider restoring the plaque and directed staff to research a plan and cost to bring back recommendations and in the fall conduct a re-dedication.

B.Council Member Balocco
Council Member Balocco reported completing his appointment as Chair for Cove Communities Commission and the new Chair is Kathleen Nelson from the City of Palm Desert. He reported Finance Committee reviewed the Indian Wells Golf Resort operating and capital budget that was presented at today's meeting and thanked Mayor Pro Tem Griffith and staff for their work.

C.Council Member Sanders
Council Member Sanders reported the State approved $79 million in funds for new building at Palm Desert California State University Campus and stated the Coachella Valley Economic Partnership was heavily involved in lobbying those efforts.

D.Mayor Pro Tem Griffith
Mayor Pro Tem Griffith reported Finance Committee reviewed the Indian Wells Golf Resort Budget that was presented at today's meeting. She requested as monument signs are researched to consider monuments at the Pavilion and other areas.

E.Mayor Reed
Mayor Reed reported California JPIA Annual Meeting of Board of Directors is being held on July 20, 2022 and he will be participating. He reported Riverside County Transportation Commission continues their efforts to keep the State from taking control of regional authority as it relates to road expansions. He reported CVAG Executive Committee has a new Chair Steve Hernandez from the City of Coachella. He reported CVAG Transportation continues to review programs and policies. He further reported Sunline Transit Agency meets on a monthly basis and the Agency has not finalized a labor agreement with their members.

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July 7, 2022City Council Meeting Minutes

11. ADJOURNMENT
At 2:30 p.m., Mayor Reed ADJOURNED the City Council meeting to a Special meeting of the City Council to be held at 1:30 p.m. on August 3, 2022 in the City Hall Council Chamber and Videoconference.

Respectfully Submitted,
_____________________________
Angelica Avila, CMC
City Clerk
This council meeting may be viewed on the City's website at http://www.cityofindianwells.org/cityhall/citycouncil/viewmeetings.asp and the complete agenda packets are available on the City's website at http://www.cityofindianwells.org/cityhall/cagaends.asp

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INDIAN WELLS CITY COUNCIL
August 3, 2022
Staff Report: Public Works
Subject: Supplemental Appropriation for Highway 111 Phase I Rehabilitation Project
RECOMMENDED ACTION:

As the main east-west thoroughfare through Indian Wells, Highway 111 conveys significant traffic volume. The intense use has worn the pavement. The roadway needs a mix of localized repair, asphalt grinding and overlay, and slurry seal application. The original budget and construction for this road work were scheduled for the summer of 2020, but the project schedule was revised due to the impacts of COVID.

The project is divided into phases: Phase I - segment between the Western City Limits and Eldorado Drive, including turn lanes; and Phase II - Eldorado Drive to the Eastern City Limits. The areas with the greatest need for rehabilitation are located between the Western City Limits and just east of Cook Street. The work includes repairs, crack seals, final slurry seal, and ADA compliance updates to wheelchair ramps. The engineer’s estimate for this work was $780,724.

Staff advertised the Phase I project for construction bids and received four (4) proposals ranging from $1,005,114 to $1,367,511. Vance Corporation was the lowest responsive bidder.

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The Fiscal Year (“FY”) 2022-23 budget included $550,000 for the first phase of the Highway 111 rehabilitation project. Funding support for this includes a $204,270 grant from the State’s RMRA funds. Staff identified two factors for the large discrepancy between the project budget and the construction bid: First, the original budget was carried over from the 2020 budget without adjusting for the repair costs resulting from the deferred maintenance. Second, the cost of materials and delivery is significantly higher than at the budgeting time.

Based on the need for roadway repairs, the volume of traffic that depends on the good quality condition of Highway 111, and consideration of the factors affecting the project budget shortfall, Staff recommends the City Council approve a supplemental appropriation of $555,625 to fund the Highway 111 improvements. The requested supplemental appropriation includes a 10% contingency of $100,512.

Total funding: construction ($1,005,114) plus 10% contingency ($100,512) = $1,105,625 FISCAL IMPACT:

Staff is requesting a supplemental appropriation of $555,624.91 from the City’s Capital Improvement Program to the Construction account of the Public Works operating budget for this expense.

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INDIAN WELLS CITY COUNCIL
August 3, 2022
Staff Report: Finance
Subject: City Treasurer’s Report for June 2022
RECOMMENDED ACTION:

Council RECEIVES and FILES the City Treasurer’s Report for June 2022.

DISCUSSION:

Attached are the monthly cash balance and investment reports for the month of June 2022. Investments reflected in this report are “Marked-to-Market”, meaning the market value of City’s investments is updated monthly. This method provides a clear depiction of the value of the City’s portfolio subject to the performance of the investment market.

The City of Indian Wells continues to maintain prudent fiscal reserves and minimize un- invested cash.

Cash and Investments
As of June 30, 2022:
The City’s cash and investments totaled $89,582,252.55 The City’s portfolio earned a 1.170% rate of return.

Treasurer’s Certification
Compliance - The City Treasurer certifies the City’s cash and investments presented in this Report are in compliance with the City’s investment policy and with legal requirements of State of California Government Code section 53600.

Liquidity - The City Treasurer certifies the City’s portfolio is sufficient to meet its financial obligations for the next six months. The investment portfolio will remain sufficiently liquid to meet all operating requirements, which might be reasonably anticipated. This is accomplished by striving to have securities mature at the same time cash is needed to meet anticipated demands (static liquidity). Additionally, since all possible cash demands cannot be anticipated, the portfolio consists largely of securities with active secondary or resale markets (dynamic liquidity).

Fiscal Prudence

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When investing, reinvesting, purchasing, acquiring, exchanging, selling, or managing public funds, a trustee shall act with care, skill, prudence, and dilige nce under the circumstances then prevailing, including, but not limited to, the general economic conditions and the anticipated needs of the City, that a prudent person acting in a like capacity and familiarity with those matters would use in the conduct of funds of a like character and with like aims, to safeguard the principal and maintain the liquidity needs of the City.

Background

Staff provides Council with a monthly update to the Treasurer’s Report. The Report presents the City’s cash activity and investment portfolio and provides reconciliation between investment balances and the General Ledger. Specifically, the report provides information on the types of investments, dates of maturities, costs, updated market value of securities, and rates of interest earned in the portfolio.

The City maintains a written investment policy in compliance with legal requirements of Government Code section 53600 and governs the investments made by the City. It is the policy of the City of Indian Wells to invest public funds in a manner that will provide the maximum security with the highest investment return while meeting the daily cash flow demands of the City. The investments purchased by the City are consistent with th e City’s investment policy and are allowable under current legislation of the State of California.

The City invests in U.S. treasuries, federal agency securities, medium term corporate notes, municipal bonds, federally insured certificates of deposit, and overnight cash investments. Criteria for selecting investments in order of priority are: (1) safety, (2) liquidity and (3) yield.

ATTACHMENTS:

1. City Treasurer’s Report

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566
567
s68
569
137
531
98-33-385 26,662,383.22
C€rtili6t6 of DeDosit
Certinote of Oe
CertifiGte of Deposit-Allegiance Bank Tqas 0U48DBA3 245,000.00 Certifi6te of Deposit-CitiBank NA 17312QH69 250,000.00
Certifi6te of Deposit-Goldman Sachs Bank 38148PG43 250,000.00 Crrtifi@te of Deposit-Sallie Mae 795450N84 250,000.00
Certificte of Deposit-First National Bank of AreriG 32110Y1K9 248,000.00 CertifiGte of Deposit-Disover Bank 2546731,J18 250,000.00 Certifiete of Deposit-Barclays Bank Delaware 06740K14N4 250,000.00 liledium Te.m CorDoratc ilot6
Amzon.com ln
Wells Fargo 95001D6U9 1,000,000.00
Montebello CA Pens Obliq
Corp 06406RAN7
AA 612285AE6
JP Morgan Chare Bank NA 46632FRU1
JP Morgan Chas 48128G2Q2
Bank ofAmeric MTN 06048WM31
Bank ofAmeriG MTN 06048WM72
1,010,716.17
1,047,722.92
2,000,000.00
1,000,000.00

1.000,000.00
1,000,000.00
F€deral Agency Isu6
Fed. Farm Credit Bank 3133E1280 2,000,000.00
Fed. Home L@n Mtg Corp 313,IGWCG9 1.000,595.91
Fed. Nat'l MorEage Ass 3135GA223 2,000,000.00
Fed. Farm Credit Bank 3130AUlSl 1,000,000.00
Fed. Farm Credit B6nk 3130A16G4 1,000,000.00
Fed. Farm Credit Bank 3130A16J8 2,000,000.00
Fed. Farm Credit Bank 3130ALDN1 2,000,000.00
Fed. Farm Credit Bank 3130ALHZ0 1,000,000.00
Fed. Farm Credit Bank 3130AU62 1,000,000.00
Fed. Farm Credit Bank 3130ALMM3 2,000,000.00
Fed. Farm Credit Bank 3130A1W67 1,000,000.00
Fed. Farm Credit Bank 3130A1VW57 2,000,000.00
Fed. Farm Credit Bank 3133EMH21 2,000,000.00
Fed. Farm Credit Bank 3133EM167 2,000,000.00
Fed. Farm Credit Bank 3133EMN99 2,000,000.00
Fed. Farm Credit Bank 3I33EMW73 3,000,000.00
2,000,000.00
1,000,000.00
1,000,000.00

9.052,799.52
393,162.44
$ 81216,901,75
1,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
1,700,000.00
ltlllnjcipal Bonds
Dixon CA Unified Schol District 2556511C6
Natomas CA Schml District 63877NMM5
s02,808.73
300,000.00
(763,933.09)

0.00 (161.62)

5.581.47
Items
OuEtanditrg Items
Total Poled Cash and Inv6tments
Fair Value Incrss (over cost)
Outstanding Warrants/Wire Transfers
Outstanding Payrcll Warrants/Wire Transfers
Deposit in Transit
Credit Card in Transit
Rsonciled Bank Balane
ATTACHMENT #1

Page 20 of 88 ends

NET CASH & INVESTMENT SUMMARY JUNE 2022
June
2022
June
202rUNRESTRICTED FUNDS

GENERAL FUND
101- GENEML

TOTAL GENERAL FUND

RESTRICTED FUNDS

SPECIAL REVENUE FUNDS
202 . TRAFFIC SAFETY
203 - PUBLIC SAFETY U2 CENT SALES TAX
204 - MEASURE "A''
209 - F.A.M.D. #1
210 - SCAQMD (VEHTCLE REG.)
211 - AB 3229 COPS FUNDING
214 - GAS TAX 2103 MAINTENANCE
215 - GAS TAX 2105 MAINTENANCE
216 - GAS TAX 2106 CONSTRUCT/MAINT
217 - GAS TAX2IOT MAINTENANCE
218 - GAS TAX 2107.5 ENG./ADMTN
219 - GAS TAX RMRA
228 - EMERG. UPGRADE SERVICES
247 - AB 939 RECYCLING FUND
248 - SOLID WASTE
251 - STREET LIGHTING DISTRICT 2OOO-1
253- INDIAN WELLS VILLAS OPERATIONS
254- MOUNTAIN VIEW VILLAS OPERATIONS
256- HOUSING AUTHORITY
271 - ELDORADO DRIVE LLMD
272 - MONTECITO/STARDUST LLMD
273 - CASA DORADO LLMD
274 -THE COVE LLMD
275 - SH 111/rWGR (ENTRANCE) LLMD
276 - CLUBIIW I-ANE LLMD
277 - COLONY LLMD
278 - COLONY COV ESTATES LLMD
279 - DESERT HORIZONS LLMD
280 - MOUNTAIN GATE LLMD
281 - MOUNTAIN GATE ESTATES LLMD
282 - VILLAGIO LLMD
283 - VAIDYA LLMD
284 - CLUB, SOUTH OF 111 LLMD
285 - MONTELENA LLMD
286 - SUNDANCE LLMD
287 - PROVINCE LLMD
288 - PROVINCE DBAD

TOTAL SPECIAL REVENUE FUNDS

CAPITAL PROJECT FUNDS
314 - PARK-IN-LIEU FEES
315 - CITYWIDE PUBLIC IMPROVEMENT FEE
316 - CAPITAL IMPROVEMENT
319 - ART IN PUBLIC PLACES
321 - HIGHWAY 111 CIRCULATION IMP FEE

TOTAL CAPITAL PROJECT FUNDS
$ L7,241,158.33 $ 5,113,646.49
17,241,L58.33 s,1ts$46.49
5,722.6L
9,384.18
32,029.86
2,420,28L96
14,676.45
4r,669.69
7,578.75
4,672.85
3,696.25
6,5r0.22
333.33
339,204.36
4,L45,663.47
422,979.64
249,923.r2
15,493.22
r,40r,746.8r
2,L86,33L.54
t4,026,463.34
73,635.86
13,905.43
67s.32
534.t4
102,257.43
24,r40.95
112,568.13
63,024.23
303.00
114,909.69
58,280.35
299,646.3L
39,215.51
33,020.93
103,510.81
s22.00
82,399.38
7,232.65
69,367.25
139,592.95
2,638,34r.28
L3,225.04
184,145.48
12,456.62
t0,933.22
8,522.88
14,359.81
678.67
230,700.24
3,958,936.74
558,037.09
354,052.61
L3,442.68
r,397,92t.8L
2,180,366.54
14,152,096.13
7r,9r4.77
7,07r.83
9,086.46
7,964.97
56,962.89
16,176.88
96,058.94
62,545.26
L77,489.82
Lr},402.44
55,460.65
288,530.53
38,033.83
26,733.9r
86,907.89
21,182.06
189,495.83
590 162.30 619 976.85
27 p47pL2.42
55,816.00
24r,626.00
4,973,63t.66
327,93L03
20,735.70
27,886,405.50
13,900.00
I54,990.26
8,490,589.67
165,893.46

0.70 8$25,374.O9
Tlcommon\bank\Treasurer's Report\Cash 1 0J u n 22-dnft
5,619,740.39
2:30 PM7l19l2o22Page 21 of 88

CITY OF INDIAN WELLS
NET CASH & INVESTMENT SUMMARY JUNE 2022
PAGE 2
RESTRICTED FUNDS (Cont.)

REPLACEMENT FUNDS
326 - BUILDINGS CAPITAL RESERVE
327 - BRIDGES CAPITAL RESERVE
328 - MEDIANS & PARKWAYS CAPITAL RESERVE
329 - STORM DRAINS CAPITAL RESERVE
330 - TRAFFIC SIGNALS CAPITAL RESERVE
331 - TRAFFIC SIGNALS CAPITAL RESERVE
332 - CITY STREETS CAPITAL RESERVE
333 - CITY VEHICLES CAPITAL RESERVE

TOTAL REPLACEMENT FUNDS

SUCCESSOR AGENCY FUNDS
453 - RDA (WHTTEWATER)
456 - RDA OBLIGATION RETIREMENT

TOTAL SUCCESSOR AGENCY FUNDS

ENTERPRISE FUNDS
560 - INDIAN WELLS GOLF RESORT

TOTAL ENTERPRISE FUNDS

INTERNAL SERVICE FUNDS
601 - OPEB BENEFIT FUND

TOTAL INTERNAL SERVICE FUNDS

RESERVE FUNDS
602 - COMPENSATED ABSENCES

TOTAL RESERVE FUNDS

TRUST & AGENCY FUNDS
732 - SPECIAL DEPOSITS

TOTAL TRUST & AGENCY FUNDS

TOTAL ALL FUNDS

FISCAL AGENTS
253 - INDIAN WELLS VILLAS
254 - MOUNTAIN VIEW VILLAS
453 - UNION BANK OF CALIFORNIA TRUSTEE
560 - INDIAN WELLS GOLF RESORT
601 - PARS SECTION 115 TRUST - PENSION
601 . PARS SECTION 115 TRUST - OPEB

TOTAL FISCAL AGENTS

TOTAL ALL FUNDS & FISCAT AGENTS

UNRESTRICTED FUNDS

RESTRICTED FUNDS
3,313,938.37 3,6264LO.28
$ 85,6 51,859.62
17,24L,158.33
75,289,68'..79
5,113,646.49
213.13
$ 92,530,840.12 $ 85,651,859.62
June
2022
June
202L
1,759,893.80
1,809,625.00
r,440,405.07
727,374.00
597,733.00
545,871.00
19,848,108.00
1 4I
26,85425O.87
1,440,878.80
L,729,156.00
t,376,050.07
695,175.00
570,924.00
52t,2L7.00
18,968,138.00
119,863.00
8,383,632.81
t,062,774.00
25,42t,40t.87
6,095,357.05
7 00
9;446,406.81

1.358,050.31
1,358,05O.31

0.00 13,385,357.05

0.00 o.00

0.00 0.00
6L2,5L2.00
o.00
610,841.00
612,512.00 610,841.O0
t,037 ,770.62 782,423.34
'-p37,770.62
89,216,901.75
782,423.34
82,025,449.34
523,362.67
1,154,815.13
L7.69
569,906.33
865,836.55
200,000.00
342,684.56
669,795.34
8,978.35
L,678,0r2.40
926,939.63

0.00 TlCommon\bank\Treasurer's Report\Cash 1 0Ju n 22-draft 2:30 PM7l19l2O22Page 22 of 88

INDIAN
i' j:r',l
1 .--'.' WELLS
\.

City of lndian Wells
214-950 Eldorado Drive
lndian Wells CA92210
(760)346-2489CALIFORN IA,
lnvestments
Bank Certmcates of Deposit
Managed Pool Accounts - LAIF
Money Market Sweep/Checking Account
Negotiable CD's
Medium Term Corporab Notes
Federal Agency lssues - Callables
Miscellaneous Securities - Coupon
lnvFtments
Total Earnings
Current Year
Average Daily Balance
Effective Rate of Return
Reporting period 0610{12022-0613012022
The City of lndian Wells
Portfolio Management
Portfolio Summary
June 30,2022
Value
1,493,000.00
26,662,383.22
4,888,665.17
6,982,000.00
9,000,000.00
39,700,000.00
800,000.00
89,526,048.39
June 30 Month Ending
79,859.57
89,766,278.18

1.08o/o
Market
Value
1,497,561 .33
26,662,3A3.22
4,888,665.17
6,697,947.03
8,292,460.00
37,298,007.00
750,263.00
86,087,286.75
1,826
1 1
1,729
1,706
1,640
1,449
278
1 1
899
1,055
1,269
898
360 Equiv.

2.844

0.849

0.485

1.765

1.424

1.219

0.653
752 ,1.19
YTM
365 Equiv.

2.884

0.861

0.491

1.789

1.444

1.236

0.662

1.170
Portfolio CITY
AP
PM (PRF_PM1) 7.3.0
Report Ver. 7.3.6.1
Par Book
Value
1,493,000.00
26,662,383.22
4,888,665.17
6,982,000.00
9,O52,799.52
39,700,595.91
802,808.73
%ol
Portfolio Temr
Days to
Maturity
'l.67

25.76 5.46

7.79 10.11

44.32 0.90
89,582,252.55 100.00% .t,O78
The
cash flow from revenue and maturing investments will be sufficient to cover expenditures for the next six months. All securities are "Marked-to-Market" on a monthly basis.

Kevin
Runhle: O7h52O22 - 16:07 No fiscal year history available

Page 23 of 88 ends

Ave]?ge
Fhl2n..
1,r193,000.00
25,812,383.22
6,t22,169.59
Purchase
Dale
0?/07t2018
0312912018
07t20t2018
0412512018
o'1t11t2018
04t25t2018
071o1t2020
0813112021
oTlo'U2020
07t01t2020
07to1t2020
07to1t2020
o3t31t2020
07t22n020
07t26t2019
1012412018
0212312022
02123t2022
03t31t2020
07hal2019
0413012020
10t30t2014
Par Value
245,000.00
250,000.00
248,000.00
250,000.00
250,000.00
250,000.00
1,493,000.00
26,662,383.22

0.00 26,652,383.22
1,401,179.43

0.00 3,403,647.72
42,526.11

0.00 0.00
39,31 1.91
2,000.00

0.00 4,888,665.t7
250,000.00
249,000.00
249,000.00
250,000.00
250,000.00
250,000.00
250,000.00
247,OOO.00
248,000.00
250,000.00
Market Value
245,526.75
250,787.50
248,672.08
250,905.00
250,665.00
251,005.00
1,497,561.33
26,662,383.22

0.00 26,662,383.22
1 ,40',t,179.43

0.00 3,403,647.72
42,526.11

0.00 0.00
39,311.91
2,000_00

0.00 4,888,565.17
237,090.00
229,632.78
242,491.14
25 t,085.00
233,885.00
233,885.00
238,085.00
242,284.77
233,789.60
25'1,437.50
Stated
BookValue Fala
YTil Daysto
360 Maturitv

Page 1 ends

Maturity
Date
02to7t2023
03t29t2023
07120no23
04t25t2023
o'U11t2023
04t25t2023
03t28t2025
0712212025
07t26t2024
10t24t2022
02t17t2027
02t17t2027
o3l31no25
06t26t2024
04t30t2025
10t30t2023
The Gity of lndian Wells
Portfolio Management
Portfolio Details - lnvestments
June 30, 2022
CUSIP lnvestment #
Bank Certificates of Deposit
01748DB43
17312QH69
321 10YLKg
38148PG43
61747MF63
795450N84
tlanaged Pool Accounts - LAIF
SYS21
SYS23
lssuer
Allegiance Bank Texas

CITIBANK NA
First National Bank of America
Goldman Sachs Bank
Morgan Stanley Bk NA
Sallie Mae
Subtotal and Average
LAIF - City
LAIF - Redevelopment
Fitch
460
463
473
464
457
465
245,000.00
250,000.00
248,000.00
250,000.00
250,000.00
250,000.00
1,493,000.00
26,662,383.22

0.00 26,662,383.22

2.600

2.850

3.1 50

3.000

2.650

3.050

0.861

0.233

0.250

0.600

0.250

1.400

0.700

2.000

3.250

1.900

1.550

2.300

1.250

3.450

2.564

2.811

3.107

2.959

2.614

3.008
221
271
384
298
194
298

2.84 278
21 23

0.849
o.230
Subtotal and Average
iloney Market Sweep/Ghecking Account

0.849
o.247

0.000

0.592

0.000

0.000
o.247

0.000

0.485

1.380

0.690

1.973

3.205

1.874

1.529

0.000
't.233

3.403
1,001
1,117
756
115
1,692
1,692
1,004
726
1,034
486
SYSl
SYS6
sYsT
SYSs
sYs2
SYS3
SYS4
SYS1 9
SYSs
1 6
7 I
2 3
4 19
5 515
525
501
482
561
562
5't2
499
518
484
Pacific Western Bank
Pacific Westem Bank-Ambulance
Pacifi c VVestem-PublicFundsM MA
US Bank Money Market
Pacific Western - Acct Payable
Pacif ic Western-Payroll
Union Bank-Checking
Petty Cash
WestAmerica Bank
Subtotal and Average
1,401 ,179.43

0.00 3,403,647.72
42,526.'t1

0.00 0.00
39,31 1.91
2,000.00

0.00 4,888,665.17
250,000.00
249,000.00
249,000.00
250,000.00
250,000.00
250,000.00
250,000.00
247,OOO.OO
248,000.00
250,000.00
Negotiable GD's
0200808X4
06063HMS9
06652CHA2
06740KMN4
0737'tAYE7
07371CE88
05580AVX9
14042T4Y3
15201QDE4
200334M86
Alma Bank
Bank of Baroda
Bankwest lnc.

Bardays BanUDelaware
Beal Bank - Plano TX
Beal Bank USA

BMW BANK NORTH AMERICA
Capital One Bank USA NA
Centerstate Bank NA
Comenity Capital Bank
Portfolio CITY
AP
PM (PRF_PM2) 7.3.0Run Dale: 0711512022 - 16:07
Report Ver. 7.3.6.1Page 24 of 88

The Gity of lndian Wells
Portfolio Management
Portfolio Details - Investments
June 30,2022
ParValue Market Value
Stated
BookValue Rate
Page2
YTM Days to Maturity
Fitch 360 Maturitv Daie
Average PurchaseCUSIP lnveatment # lasuer Balance Date
Negotiable CD's
Discover Bank

ENCORE BANK
First Freedom Bank
First Nafl Bank of Mccregor TX
Greenstate Credit Union
Live Oak Banking Company
Merrick Bank
Morgan Stanley PrivaE Bank
Nelnet Bank, lnc.

Nicolet National Bank
Northwest Bank
Pacific Westem Bank CA CD
Pentagon Federal Credit Union
RIA Federal Credit Union
State Bank of lndia NY, NY CD
Toyota Financial Sgs Bk
UBS Bank USA
Wells Fargo Natl Bk West
Subtotal and Average 6,982,000.00
Medium Term Corporate Notes
254673U18
29260M8E4
3202784M9
321 12UDRg
39s73LBLl
5380361D4
590't 3J4X4
617604RM3
64034KAG6
654062J22
6573648V0
69506YR15
7096214S1
7496224L0
856285TF8
89235MKY6
90348JFF2
949495AQ8
023135AV1/6
06048\ /I\431
06048WI\472
06406RAN7
48128G2Q2
46632FRU1
61 2285AE6
95001 D6U9
480
520
521
s17
550
514
486
485
558
513
519
522
557
498
516
548
483
507
10to3t2018
04t3012020
0413012020
0412812020
06t16t2021
03131t2020
11t20t2018
11t08t2018
o2t02t2022
03131t2020
04130t2020
04t30t2020
0912912021
0612412019
04t29n020
04t22t2021
10t30t2018
01t28t2020
1210412018
0512812021
0713012021
oil14n020
0?,26t2021
0112212021
07t't7t2020
0,4t30t2020
07t29t2020
06t17t202',1
06t22t202'l
06t30t2021
250,000.00
249,000.00
249,000.00
249,000.00
250,000.00
250,000.00
250,000.00
250,000.00
250,000.00
250,000.00
249,000.00
248,000.00
249,000.00
249,000.00
248,000.00
250,000.00
250,000.00
249,000.00
250,982.50
239,804.43
239,582.42
235,369.74
227,325.00
237,037.50
251,690.00
251,317 .50
229,882.50
237,O37.50
2U,331.41
233,789.60
224,675.19
246,905.9'l
236,133.20
228,172.50
251,602.50
248,641.44
250,000.00
249,000.00
249,000.00
249,000.00
250,000.00
250,000.00
250,000.00
250,000.00
250,000.00
250,000.00
249,000.00
248,000.00
249,000.00
249,000.00
248,000.00
250,000.00
250,000.00
249,000.00
101o312023
04130no24
04R0no24
04t28t2025
06t16t2026
03t31t2025
01not2023
11t08t2022
02102t2027
0313112025
04t30t2025
04t30t2025
09t29t2026
1212612023
04t29t2025
04n212026
10n712023
01l17DO23
02l22no23
05n812026
07t30t2026
04t24t2025
02n6t2026
0112212026
06t01t2025
0413012023

3.300

1.150

1.100

1.350

0.900

1.400

3.400

3.400
'1.500

1.400

1.200

1.250

0.900

2.500

1.600

0.900

3.500

1.900

3.255

1.135

1.086

1.332

0.888

1.382

3.356

3.352

1.479

1.382

1.184
't.233

0.888

2.468

1.578

0.888

3.454

1.475

3.303

1.233
't.'t84

1.190

0.789

0.690

0.819

2.959
o.572

0.888

0.789

0.730
459
669
669
1,032
1,446
1,004
203
130
1,677
1,004
1,034
1,O34
1,551
543
1,033
1,391
483
200
236
1,427
1,490
1,O28
1,336
1,301
1,066
303
6,982,000.00
1,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
2,000,000.00
1,000,000.00
1,000,000.00
9,000,000.00
2,000,000.00
2,000,000.00
2,000,000.00
2,000,000.00
6,697,947.03
998,400.00
868,990.00
863,910.00
941 ,210.00
887,480.00
1,773,840.00
971,830.00
986,800.00
8,292,.160.00
1,849,720.O0
1,841 ,800.00
1,840,000.00
1,861,220.00
6,982,000.00
994,360.43
1,000,000.00
1,000,000.00
1,010,716.17
1,000,000.00
2,000,000.00
1,O47,722.92
1,000,000.00
9,052,799.52
2,000,000.00
2,000,000.00
2,000,000.00
2,000,000.00

1.765 899
Federal Agency lssues - Callables
31 33ELZ80
31 33EMH21
31 33EML67
31 33EMN99
Amazon.com lnc.

Bank of America MTN A
Bank of America MTN A
Bank of New York Mellon Corp
JPMorgan Chase & Co
JP Morgan Chase Bank NA
Montebello CA Pens Oblig AA
Wells Fargo & Company
Subtotal and Average
Fed. Farm Credit Bank
Fed. Farm Credit Bank
Fed. Farm Credit Bank
Fed. Farm Credit Bank
489
549
556
524
538
533
526
523

2.400

1.250

1.200

1.600

0.800

0.700

2.503

2.150
9,0s3,2s7.95 1.424 1,055
529
552
553
554

0.580

0.900

0.800

0.740
1,124 07t29t2025
1,445 06115n026
1,452 0612212026
1,095 06/30/2025
Portfolio CITY
AP
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Page 25 of 88 ends

The City of lndian Wells
Portfolio Management
Portfolio Details - lnvestments
June 3O,2022

Page 3 ends

Stated YTM Days to Maturity
Book Value p.ra Fitch 36O MaturitrCUSIPlnvestment #
Federal Agency lssues - Callables
lssuer
Fed. Farm Credit Bank
Fed. Home Loan Bank
Fed. Home Loan Bank
Fed. Home Loan Bank
Fed. Home Loan Bank
Fed. Home Loan Bank
Fed. Home Loan Bank
Fed. Home Loan Bank
Fed. Home Loan Bank
Fed. Home Loan Bank
Fed. Home Loan Bank
Fed" Home Loan Bank
Fed. Home Loan Bank
Fed. Home Loan Bank
Fed. Home Loan Bank
Fed. Home Loan Bank
Fed. Home Loan Mtg Corp
Fed. Home Loan Mb Corp
Fed. Home Loan Mts Corp
Fed. Home Loan Mtg Corp
Fed. Natl Mortgage Assoc
Fed. Nafl Morlgage Assoc
Subtotal and Average
Total and Average
3133EMVW3
31 30AL3Sl
3130A16G4
31 30AL6J8
313OALDN1
31 3oALHZo
31 30ALJ62
313OALMM3
3130A1V167
31304MW57
313OAQWF6
313OAQWJ8
31 30AQZ55
31 30ARCVl
313OARGE5
31 30AS3Z0
3134GVVCG9
3134GXMX9
3134GXQP2
3134GXUM4
3136G4C43
3135GA223
0712812021
02t17t2021
0212512021
02t24t2021
03t16t2021
0311at2021
0312412021
0313012021
0412212021
0613012021
0212512022
02t24t2022
03t10t2022
0312812022
04n1PO22
05n6PO22
0713012020
0312512022
04t2812022
o6to7t2022
o8t14t2020
1111712020
3,000,000.00
1,000,000.00
1,000,000.00
2,000,000.00
2,000,000.00
1,000,000.00
1,000,000.00
2,000,000.00
1,000,000.00
2,000,000.00
1,000,000.00
'1,000,000.00
1,000,000.00
2,000,000.00
1,000,000.00
1,700,000.00
1,000,000.00
1,000,000"00
1,000,000.00
1,000,000.00
2,000,000.00
2,000,000.00
3,000,000.00
1,000,000.00
1,000,000.00
2,000,000.00
2,000,000.00
1,000,000.00
'I,000,000.00
2,000,000.00
1,000,000.00
2,000,000.00
1,000,000.00
1,000,000.00
1,000,000.00
2,000,000.00
1,000,000.00
1,700,000.00
1,000,595.91
'|,000,000.00
1,000,000.00
1,000,000.00
2,000,000.00
2,000,000.00
39,700,595.91
502,808.73
300,000.00
E02,E0E.73
89,582,252.55
07l2a2o26
02117t2026
0212512026
02n4n026
03t16t2026
0611812025
03t24t2026
03R0t2026
04/22n026
06ROnO26
02t25t2027
02n4t2027
0311012027
03n812024
o4t21t2027
11/26n024
04BOn025
03n5t2025
0412a12025
0610712024
oil14no25
11117nO25
555
534
535
536
539
541
542
544
546
551
559
560
563
565
566
568
530
564
567
569
527
532
Average
B.hnc.
39,500,604.39
802,863.03
89,766,278.18
Purchase
Date
02t18t2021
10t01t2020
Par Value itarket Value
2,761,650.00
919,970.00
919,980.00
1 ,841 ,740.OO
1,847,680.00
926,790.00
927,600.00
1,858,780.00
935,330.00
1 ,853,1 80.00
954,960.00
952,280.00
970,510.00
1,967,740.00
983,360.00
1,691 ,687.00
930,890.00
974,080.00
994,700.00
995,720.00
1,857,280.00
'1,839,360.00
37,298,007.00
470,780.00
279,483.OO
750,263.00
86,087,286.75

0.870

0.625

0.600

0.625

0.800

0.530

0.875

1.000

1.100

0.650

2.150

2.050

2.500

1.500

3.000

0.650

2.200

3.030

3.050

0.650

0.560

0.858

0.616

0.592

0.616

0.789
o.523

0.863

0.986

1.085

0.967

2.121

2.O22

2.466
'1.846

2.959

0.621

2.170

2.988

3.008

0.64'l
o.552
1,488
1,327
1,335
1,334
1,354
1,083
1,362
1,368
1,391
1,460
1,700
1,699
1,713
636
1,755
879
1,034
998
'1,o32
707
1,140
1,235
Miscellaneous Securities - Coupon
255651KY6 537 Dixon CA Unified School Dist
63877NMM6 531 Natomas CA Sch DistAA lnsured
Subtotal and Average
39,700,000.00
500,000.00
300,000.00
800,000.00
89,526,048.39
o.672

1. t00

1.219 1,269

0.395

1.085

0.653 898

1.14 752
762 0alo1no24
't,127 08t01t2025
Portfolio CITY
AP
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Page 26 of 88 ends

ND
1/ ,.-." /i ../{ .-:

IAN'.T WELLS
1 City of lndian Wells
44-950 Eldorado Drive
lndian Wells CA92210
(760)346-2489CALIFORNIA
lnvestments
Money Market Sweep/Checking Account
lnvestments
Total Earnings
Current Year
Average Daily Balance
Rate of Return
Agency
Reporting pedod 06/01/2022-0613012022
Par
2O1 4, 2O1 5, 2016, 2020 Series
Portfolio Management
Portfolio Summary
June 3O,2O22
lllarket
ValueValue

3.44 3.4
June 30 lHonth Ending

3.44 3.4
Book o/o ol
Value Poltblio

3.44 100.00

3.44 100.00%
Term
Days to
Maturity 360 Equiv.

0.000

0.000
YTM
365 Equiv.

0.000

0.000
Portfolio 14A
CP
PM (PRF_PMl) 7.3.0
Report VeL 7.3.6.1
1 0.00

3.U

0.00o/o
RunDale: O7116t2O22 - 12:02 No fiscal year history available

Page 27 of 88 ends

CUSIP lnvestment #
lloney Market Sweep/Checking Account
201 4, 201 5, 201 6, 2020 Series
Portfolio Management
Portfolio Details - lnvestments
June 30,2022
Purchasc
Oate Par Valuelssuer
20144 Bonds Reserve
All Bond Series Principal
All Bond Series lnterest
All Bond Series Debt Svc
Cost Of lssuance Escrcnr
Subtotal and Average
Total and Average
28 26
25 27
1 Ave]?ge
Balance

3.4 3.4
07t01t2020
07to1t2020
071o1n020
07t01t2020
07t0112020

1.00 0.03
o.17

2.24 0.00

3.4 3.4
Markot Value

1.00 0.03

0.17 2.24

0.00 3.4

3.4 Stated
BookValue Rab

1.00 0.03
o.17

2.24 0.00

3.44 3.U

Page 1 ends

YTlt Days to Maturity
Fitch 365 ilaturitv n2l.

0.000

0.000 1
Portfolio 14A
CP
PM (PRF_PM2) 7.3.0
SYS28
SYS26
SY525
SYS27
SYS24
Run Dale: O7116t2C22 - 12:02
Report Ver. 7.3.6.1Page 28 of 88

It r4,/t:

INDIAN iI WELLS City of lndian Wells
44-950 Eldorado Drive
lndian Wells CA92210
(760)346-2489CALI FORNIA
lnvestments
Money Market Sweep/Checking Account
lnvestments
Total Earnings
Cunent Year
Average Daily Balance
of Retum
Reporting period 06/01r2022-0613U2022
2015 A Bonds
Portfolio Management
Portfolio Summary
June 30,2022
Par Market
Velue

1.00 1.00
1 .00 100.00

1.00 r00.00%
Book
Value
%of
Porttolio
Days to
Maturity 360 Equiv.

0.000

0.000
YTM
365 Equiv.

0.000

0.000
Portfolio 15A
CP
PM (PRF_PM1) 7.3.0
Report Ver. 7.3.6.'l
Value

1.00 1.00
June 30 llonth Ending
Term
1 0.00
r.00

0.00%
Run Dale: O7h6l2O22 - 12:05 No fiscal year history available

Page 29 of 88 ends

2015 A Bonds
Portfolio Management
Portfolio Details - Investments
June 3O,2022
Purchase
Dala Par Value
Page I
Staied YTM Days to Maturity
Book Value Dd- Fi?^h ?BE MrfrrritvMarket ValueCUSIPlnvestment #lsauer toney ilarket Sweep/Checking Account
SYS27 27 2015 A Reserve
SYS22 22 UBC Cost Of lssuance Escro\ t
Subtotal and Average
Total and Average
Average
R'l.n^a
1,00

1.00 o8B1nO21
071o1t2020

1.00 0.00

1.00 1.00

1.00 0.00

1.00 1.00

0.000

1.00 1.00 1
Portfolio 15A
CP
PM (PRF_PM2) 7.3.0Run D€te: O7nAnOz. - 12'.05
Report Ver 7.3.6.1Page 30 of 88

^ /,:a,fl/
INDIAN..\'WELLS

CALIFORNIA
City of lndian Wells
44-950 Eldorado Drive
lndian Wells C492210
(760)346-2489
Pan
2016 A Bonds
Portfolio Management
Portfolio Summary
June 30, 2022
Market
Value

1.00 1.00
Book
Value
%ot
Portfolio

1.00 100.00
r.00 100.00%
Days to
Maturity 350 Equiv.

0.000

0.000
YTM
355 Equiv.

0.000

0.000
Portfolio 164
CP
PM (PRF_PMl) 7.3.0
Report Ver. 7.3.6.1
lnvestments
Money Market Sweep/Checking Account
lnvestments
Total Earnings
Cunent Year
Daily Balance
of Return
Agency
Reporting period 06/01 /2022-06/3012022
Value

1.00 r.00
June 30 lUonth Ending
Term

0.00 1.00

0.00%
RunDal€: oil1612022 - 12:07 No fiscal year history available

Page 31 of 88 ends

2016 A Bonds
Portfolio Management
Portfolio Details - lnvestments
June 30,2022
Purchase
Datelssuer
UBC Cost Of lssuance Escrow
[Jnion Bank Reserve Aeiount
Page I
CUSIP lnvestment#
Money Market Sweep/Checking Account
SYS28
SYS33 2
Subtotal and Average
Total and Average
Average
Balance

1.00 1.00
ParValue Merl(et Value

0.00 1.00

1.00 1.00
YTM Daysto
365 Maturitv

0.000

0.000
Maturity
Date
Portfolio 16A
CP
PM (PRF_PM2) 7.3.0
Stated
BookValue Rate

0.00 1.00

1.00 1.00
Fitch
07to1t2020
07to1t2020

0.00 1.00
r.00

1.00 RunDale: 071161202. - 12:07
Report Ver 7.3.6.1Page 32 of 88

.t
/ ' ---t' /l'..

INDIAN','' WELLS City of lndian Wells
zt4-950 Eldorado Drive
lndian Wells CA92210
(760)346-2489CALIFORNIA
lnvestments
Money Market Sweep/Checking Account
lnvestments
Total Earnings
Current Year
Average Daily Balance
of Return
Kevin M Agency
Reporting period 06t01r2O22-OG13U2022
2020 A Bonds
Portfolio Management
Portfolio Summary
June 30,2022
Par Market
Value
't.00

1.00 1.00 100.00

1.00 100.00%
Book
Value
%ol
Portfiolio
Day$ to
Maturiry 360 Equiv.

0.000

0.000
365 Equiv.

0.000

0.000
Portfolio 20A
CP
PM (PRF_PMl) 7.3.0
Report Ver. 7.3.6.1
Value

1.00 r.00
June 30 Month Ending
Term

0.00 1.00

0.00olo
Run Date: 0716/2022 - 'l1:53 No fiscal year history available

Page 33 of 88 ends

Avenge PurchaseCUSIP lnvestment # lssuer Balance Date
2020 A Bonds
Portfolio Management
Portfolio Details - Investments
June 30,2022
Par Value Fitch
YTM Daysto
365 Maturitv

Page 1 ends

Maturity
Date
iloney tarket SweeprChecking Account
SYSl
SYS2
1 2
2020 A Bonds COI
2020 A Bonds Reserve
071o112020
071o1t2020
Market Value
t.00

1.00 Stated
BookValue Rate

1.00 1.00

0.00 1.00

0.000

0.000
Subtotal and Averege
Total and Average

1.00 1.00

0.00 1.00
r.00

1.00 0.000

0.000
Portfolio 20A
CP
PM (PRF_PM2) 7.3.0Run Date: 07/1612022 - 1 1:53
Report Ver. 7.3.6.1Page 34 of 88

INDIAN'., 'WELLS 2022 Bonds
Portfolio Management
Portfolio Summary
June 30, 2022
City of lndian Wells
44-950 Eldorado Drive
lndian Wells C4922'10
(760)346-2489CALIF*11NIA
lnvestments
Money Market Sweep/Checking Account
lnvestments
Total Earnings
Current Year
Average Balance
Return
Kevin
Reporting period 06/01 /2022-0513012022
Value
12,094,086.06
12,094,086.06
June 30 Month Ending

0.00 12,092,920.72
O.OOo/o
Market
Value
12,094,086.06
12,094,086.06
12,094,086.06 100.00
12,094,086.06 100.00%
Par Book
Value
%ot
Portfolio
Days to
Maturity
YTM
360 Equiv.

0.000

0.000
365 Equiv.

0.000

0.000
Poftlolio22
CP
PM (PRF_PM1) 7.3.0
Report Ver. 7.3.6.1
Term
1 Run Date: O7l16nO22 - 1'l:46 No fiscal year history available

Page 35 of 88 ends

2022 Bonds
Portfolio Management
Portfolio Details - Investments
June 30, 2022
Purchase
Date ParValue

Page 1 ends

Stated YTM Oays to Maturity
Bookvalue p'r. Fiich 365 Meturitu nrhCUSIPlnveatment #
Money ilarket Sweeprchecking Account
SYS2
SYSl
2 Subtotel and Ave6ge
Total and Average
bsuer
2022 Bonds COI
2022 Bonds Project Fund
Average
Ealanaa
12,O92,920.72
12,092,920.72
33,086.1 3
12,060,999.93
12,094,086.06
12,094,086.06
Market Value
33,086.1 3
12,060,999.93
12,094,086.05
12,094,086.06
33,086.13
12,060,999.93
12,094,086.06
r2,094,086.(E
0211012022
o210t2022

0.000

0.000
Potllolio22
CP
PM (PRF_PM2) 7.3.0Run Date: 07/16i/2022 - 1 1:46
Report Ver. 7.3.6.1Page 36 of 88

INDIAN WELLS CITY COUNCIL
August 3, 2022
Staff Report: Community Development
Subject: Supplemental Appropriation to Increase Budget for On-Call Planning and Environmental Contract Services
RECOMMENDED ACTION:

Council APPROVES supplemental appropriation of $75,000 for on-call planning and environmental consulting services relating to plan check review, environmental studies, and processing of conditional use permits for various projects; and AUTHORIZES Finance to make the necessary budgetary adjustments.

DISCUSSION:

The City’s Community Development continues to be short staffed due to the leave of absence of the City’s Planner. This has increased the need for consulting services to assist in the processing of various planning related applications and permits (e.g., conditional use permits, environmental studies, plan check reviews, etc.).

Recently, the City received several planning resident and developer applications into Community Development for processing. In an effort to maintain efficient review times of these various applications, staff is seeking the City Council’s approval for an additional $75,000 in consulting services. Some of the projects recently submitted include:
Numerous residential/commercial plan check applications Conditional Use Permit for Indian Wells Village
Specific Plan Modifications for Brixton Development site Environmental Review for proposed passive park
Mills Act application for historical home on Fairway
FISCAL IMPACT:

The $75,000 General Fund supplemental appropriation will be significantly offset by the various application fees collected by residents, business owners and developers. In addition, the environmental review of the proposed park is a reimbursable expense of the California Prop. 68 Grant the City was awarded for the park development (Estimated at $15,000).

Page 37 of 88 ends

INDIAN WELLS CITY COUNCIL
August 3, 2022
Staff Report: Finance
Subject: Mid-Term Update to Indian Wells Golf Resort Operating Budget
RECOMMENDED ACTIONS:

At the July 7, 2022 Council Meeting, the City Council considered adopting the Golf Resort’s operating and capital budgets. During the discussion, Council adopted the Golf Resort’s $676,000 Capital Improvement Plan and delayed the adoption of the operating budget pending additional review. Council requested the July budget return to Council on August 3, 2022, for consideration.

Based on comments received during the meeting, Staff, in collaboration with Troon Golf, prepared a more conservative budget based on updated economic indicators, essentially removing $3.4 million in revenues from the budget presented in July. In addition, Staff developed a set of conservative budget assumptions attached to this staff report.

This conservative approach contemplates a softening in the tourism markets and anticipated operating reductions. This conservative approach considers current economic data, historical trends, and data collected during the last recession and modified operations during the pandemic to assist with revenue projections.

The budgets were renamed Goal Oriented (July) and Conservative Approach (August) to provide clarity between the July and August versions. In addition, to provide Council with a better comparison, Staff developed the following table similarly formatted to the monthly financial report.

Page 38 of 88 ends

The first light orange section provides the financial performance achieved during Fiscal Year 2021-22. The second section in green provides the proposed Goal Oriented budget for the Fiscal Year 2022-23, and the third section in blue provides the proposed Conservative Approach budget for the Fiscal Year 2022-23.

2021-22
Actuals
% of
Revenue
2022-23
Proposed
Goal Budget
Variance
Comparison
to FY 2021-22
Actual
% of
Revenue
2022-23
Proposed
Conservative
Budget
Variance
Comparison
to FY 2021-22
Actual
% of
Revenue
Total Revenue 16,150,507 18,256,972 2,106,465 14,811,502 (1,339,005) Total COS 2,650,862 16.4%3,203,175 552,313 17.5%2,479,513 (171,349) 16.7% Total Payroll 7,835,479 48.5%9,731,619 1,896,140 53.3%8,562,554 727,075 57.8% Operating Cost 4,734,471 29.3%5,081,236 346,765 27.8%4,956,847 222,376 33.5% Total Cost 15,220,812 94.2%18,016,030 2,795,218 98.7%15,998,914 778,102 108.0% Net Income 929,695 5.8%240,942 (688,753) 1.3%(1,187,412) 2,117,107 -8.0% Resident Discounts Amenity 68,687 84,964 16,277 60,493 (8,194) Resident Green Fee Amenity 2,083,069 2,262,871 179,802 2,136,530 53,461 Total Resident Amenity 2,151,756 2,347,835 196,079 2,197,023 45,267 Net Income with Amenity 3,081,451 2,588,777 1,009,611

ATTACHMENTS:

1. August 2022-23 Indian Wells Golf Resort Budget

2. FY 2022-23 IWGR Conservative Budget Assumptions

3. July Goal Oriented 2022-23 Indian Wells Golf Resort Budget

4. Indian Wells Golf Resort Business Plan

Page 39 of 88 ends

2022-23 Budget 2021-22 Actuals Variance 2020-21 Actuals Variance 2019-20 Actuals Variance ROUNDS 67,573 76,500 (8,927)61,430 6,143 56,402 11,171
COVERS 218,945 246,029 (27,084)187,902 31,043 102,291 116,654

REVENUES
GOLF FEES 7,275,356 8,001,623 (726,267)5,372,821 1,902,535 4,868,197 2,407,159 MERCHANDISE 1,493,372 1,544,586 (51,214)760,394 732,978 879,088 614,284 FOOD & BEVERAGE 5,423,173 5,908,908 (485,736)2,667,911 2,755,262 3,807,965 1,615,208 RANGE, RENTAL & OTHER 619,601 695,390 (75,789)310,935 308,666 952,002 (332,400) TOTAL REVENUES 14,811,502 16,150,507 (1,339,005) 9,112,061 5,699,441 10,507,251 4,304,251

COST OF SALES
COS - MERCHANDISE 798,209 819,737 (21,528) 409,012 389,198 483,366 314,843 AS % OF REVENUE 52.62%52.06%0.55%52.09%0.53%53.92%-1.31% COS - FOOD & BEVERAGE 1,500,549 1,608,593 (108,044) 741,081 759,468 1,167,407 333,142 AS % OF REVENUE 27.48%27.05%0.44%27.88%-0.40%30.66%-3.18% GOLF COS 180,755 222,532 (41,777) 95,674 85,081 77,803 102,952 AS % OF REVENUE 1.81%2.07%-0.26%1.26%0.55%1.19%0.62%
TOTAL COST OF SALES 2,479,513 2,650,862 (171,349) 1,245,766 1,233,747 1,728,577 750,937 AS % OF REVENUE 16.74%16.41%0.33%13.67%3.07%16.45%0.29% GROSS MARGIN 12,331,988 13,499,645 (1,167,656) 7,866,294 4,465,694 8,778,674 3,553,314

PAYROLL
PAYROLL 8,562,554 7,835,479 727,075 5,846,851 2,715,702 6,745,662 1,816,892 TOTAL PAYROLL 8,562,554 7,835,479 727,075 5,846,851 2,715,702 6,745,662 1,816,892 AS % OF REVENUE 57.81%48.52%9.29%64.17%-6.36%64.20%-6.39%

OPERATING EXPENSES
OPERATING EXPENSES 4,956,847 4,734,471 222,377 3,634,095 1,322,752 3,217,484 1,739,363 TOTAL OPERATING EXPENSES 4,956,847 4,734,471 222,377 3,634,095 1,322,752 3,217,484 1,739,363 AS % OF REVENUE 33.47%29.31%4.15%39.88%-6.42%30.62%2.84% NET OPERATING INCOME (1,187,412) 929,696 (2,117,108) (1,614,652) 427,240 (1,184,472) (2,941) AS % OF REVENUE -8.02%5.76%-13.77%-17.72%9.70%-11.27%3.26%

RESIDENT AMENITY
RESIDENT DISCOUNTS AMENITY 60,493 68,687 (8,194)14,679 45,814 17,200 43,293 RESIDENT GREEN FEE AMENITY 2,136,530 2,083,069 53,461 1,960,963 175,567 754,192 1,382,338 TOTAL RESIDENT AMENITY 2,197,023 2,151,756 45,267 1,975,642 221,381 771,393 1,425,630 AS % OF REVENUE 14.83%13.32%1.51%21.68%-6.85%7.34%7.49% NET OPERATING INCOME W/AMENITY 1,009,611 3,081,451 (2,071,841) 360,990 648,620 (413,079) 1,422,690 AS % OF REVENUE 6.82%19.08%-12.26%3.96%2.85%-3.93%10.75%

ROU LEASE DEPRECIATION EXPENSES
ROU LEASE DEPRECIATION EXPENSES 158,560 212,436 (53,876) - 158,560 368,247 (209,687) TOTAL ROU LEASE DEPRECIATION EXPENSES 158,560 212,436 (53,876) - 158,560 368,247 (209,687) AS % OF REVENUE 1.07%1.32%-0.24%0.00%1.07%3.50%-2.43%
NET INCOME AFTER DEPRECIATION 851,050 2,869,015 (2,017,965) 360,990 490,060 (781,326) 1,632,376 AS % OF REVENUE 5.75%17.76%-12.02%3.96%1.78%-7.44%13.18% PAYROLL STATS:

FULL TIME EQUIVILANCE 129.90 143.19 (13.29) 97.83 32.07 130.83 (0.93)

INDIAN WELLS GOLF RESORT
2022-2023 BUDGET SUMMARY

CONSOLIDATED
ATTACHMENT #1

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2022-23 Budget 2021-22 Actuals Variance 2020-21 Actuals Variance 2019-20 Actuals Variance ROUNDS
RESIDENT ROUNDS 17,981 18,271 (290) 20,041 (2,060) 14,110 3,871 RESIDENT GUEST ROUNDS 4,708 4,671 37 3,337 1,371 3,022 1,686 TOURAMENT/GROUP ROUNDS 12,575 17,273 (4,698) 7,195 5,380 8,984 3,591 ALL OTHER ROUNDS 32,309 36,285 (3,976) 30,857 1,452 30,286 2,023 TOTAL ROUNDS 67,573 76,500 (8,927) 61,430 6,143 56,402 11,171 AVERAGE PER ROUND 107.67 104.60 3.07 87.46 20.20 86.31 21.35

REVENUES
RESIDENT REVENUE 785,949 766,610 19,339 760,554 25,395 556,143 229,806 RESIDENT GUEST REVENUE 499,620 485,282 14,338 341,201 158,419 317,591 182,029 TOURNAMENT/GROUP REVENUE 1,630,150 1,945,343 (315,193) 650,706 979,444 937,240 692,910 ALL OTHER GOLF FEE REVENUE 4,359,637 4,804,313 (444,676) 3,620,360 739,277 3,057,224 1,302,413 GOLF FEE REVENUES 7,275,356 8,001,548 (726,192) 5,372,821 1,902,535 4,868,197 2,407,159

OTHER GOLF REVENUES
MERCHANDISE REVENUE 1,493,372 1,544,586 (51,214) 760,394 732,978 881,642 611,730 RANGE, RENTAL & OTHER REVENUE 310,163 387,864 (77,702) 109,393 200,769 242,264 67,899 GOLF ACADEMY 173,470 162,345 11,125 79,406 94,064 29,555 143,915 TOTAL OTHER GOLF REVENUES 1,977,004 2,094,795 (117,791) 949,193 1,027,811 1,153,461 823,543 TOTAL GOLF REVENUES 9,252,360 10,096,342 (843,982) 6,322,014 2,930,346 6,021,658 3,230,702

COST OF SALES
COST OF SALES - MERCHANDISE 798,209 819,737 (21,528) 409,012 389,198 483,366 314,843 COST OF SALES - RANGE, RENTAL & OTHER 82,492 112,610 (30,118) 32,749 49,743 54,717 27,775 COST OF SALES - GOLF ACADEMY 98,263 109,467 (11,204) 62,925 35,338 23,086 75,177 TOTAL COST OF SALES 978,964 1,041,814 (62,850) 504,685 474,279 561,169 417,795 AS % OF REVENUE 10.58%10.32%0.26%7.98%2.60%9.32%1.26%
GROSS MARGIN 8,273,396 9,054,528 (781,132) 5,817,329 2,456,067 5,460,489 2,812,907

PAYROLL
PAYROLL 4,144,912 3,312,979 831,933 2,959,859 1,185,054 3,018,965 1,125,947 TOTAL PAYROLL 4,144,912 3,312,979 831,933 2,959,859 1,185,054 3,018,965 1,125,947 AS % OF REVENUE 44.80%32.81%11.98%46.82%-2.02%50.14%-5.34%

OPERATING EXPENSES
OPERATING EXPENSES 2,897,069 2,784,313 112,756 2,312,416 584,653 1,550,518 1,346,551 TOTAL OPERATING EXPENSES 2,897,069 2,784,313 112,756 2,312,416 584,653 1,550,518 1,346,551 AS % OF REVENUE 31.31%27.58%3.73%36.58%-5.27%25.75%5.56% NET OPERATING INCOME 1,231,415 2,957,236 (1,725,821) 545,055 686,360 891,006 340,409 AS % OF REVENUE 13.31%29.29%-15.98%8.62%4.69%14.80%-1.49%

RESIDENT AMENITY
RESIDENT MERCHANDISE DISCOUNT AMENITY 23,697 29,937 (6,241) 24,882 (1,185) 14,746 8,951 RESIDENT GREEN FEE AMENITY 2,226,530 2,173,069 53,461 2,050,963 175,567 1,390,587 835,943 TOTAL RESIDENT AMENITY 2,250,227 2,203,006 47,221 2,075,845 174,382 1,405,332 844,895 AS % OF REVENUE 24.32%21.82%2.50%32.84%-8.51%23.34%0.98% NET OPERATING INCOME W/AMENITY 3,481,642 5,160,242 (1,678,601) 2,620,900 860,742 2,296,338 1,185,304 AS % OF REVENUE 37.63%51.11%-13.48%41.46%-3.83%38.13%-0.50%

ROU LEASE DEPRECIATION EXPENSES
ROU LEASE DEPRECIATION EXPENSES 153,480 206,706 (53,226) - 153,480 361,097 (207,617) TOTAL ROU LEASE DEPRECIATION EXPENSES 153,480 206,706 (53,226) - 153,480 361,097 (207,617) NET INCOME AFTER DEPRECIATION 3,328,162 4,953,536 (1,625,375) 2,620,900 707,262 1,935,241 1,392,921 PAYROLL STATS:

FULL TIME EQUIVILANCE 66.12 67.03 (0.91) 58.08 8.04 66.00 0.12

INDIAN WELLS GOLF RESORT
2022-2023 BUDGET SUMMARY

GOLF, GOLF ACADEMY, MERCHANDISE AND GOLF MAINTENANCE

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2022-23 Budget 2021-22 Actuals Variance 2020-21 Actuals Variance 2019-20 Actuals Variance ROUNDS
RESIDENT ROUNDS 17,981 18,271 (290) 20,041 (2,060) 14,110 3,871 RESIDENT GUEST ROUNDS 4,708 4,671 37 3,337 1,371 3,022 1,686 TOURNAMENT/GROUP ROUNDS 12,575 17,273 (4,698) 7,195 5,380 8,984 3,591 ALL OTHER ROUNDS 32,309 36,285 (3,976) 30,857 1,452 30,286 2,023 TOTAL ROUNDS 67,573 76,500 (8,927) 61,430 6,143 56,402 11,171 AVERAGE PER ROUND 107.67 104.60 3.07 87.46 20.20 86.31 21.35

OTHER GOLF REVENUES
RANGE, RENTAL & OTHER REVENUE 310,163 387,864 (77,702) 109,393 200,769 242,264 67,899 GOLF ACADEMY 173,470 162,345 11,125 79,406 94,064 29,555 143,915 TOTAL OTHER GOLF REVENUES 483,633 550,209 (66,577) 188,800 294,833 271,819 211,814 TOTAL GOLF REVENUES 7,758,989 8,551,757 (792,768) 5,561,621 2,197,368 5,140,016 2,618,973

COST OF SALES
COST OF SALES - RANGE, RENTAL & OTHER 82,492 112,610 (30,118) 32,749 49,743 54,717 27,775 COST OF SALES - GOLF ACADEMY 98,263 109,467 (11,204) 62,925 35,338 23,086 75,177 TOTAL COST OF SALES 180,755 222,077 (41,322) 95,674 85,081 77,803 102,952 AS % OF REVENUE 2.33%2.60%-0.27%1.72%0.61%1.51%0.82%
GROSS MARGIN 7,578,234 8,329,680 (751,446) 5,465,947 2,112,287 5,062,213 2,516,021

PAYROLL
PAYROLL 1,598,591 1,447,631 150,959 1,077,954 520,637 1,127,848 470,742 TOTAL PAYROLL 1,598,591 1,447,631 150,959 1,077,954 520,637 1,127,848 470,742 AS % OF REVENUE 20.60%16.93%3.68%19.38%1.22%21.94%-1.34%

OPERATING EXPENSES
OPERATING EXPENSES 835,708 813,907 21,800 943,574 (107,866) 500,075 335,633 TOTAL OPERATING EXPENSES 835,708 813,907 21,800 943,574 (107,866) 500,075 335,633 AS % OF REVENUE 10.77%9.52%1.25%16.97%-6.19%9.73%1.04%
NET OPERATING INCOME 5,143,935 6,068,141 (924,206) 3,444,420 1,699,516 3,434,290 1,709,646 AS % OF REVENUE 66.30%70.96%-4.66%61.93%4.36%66.81%-0.52%

RESIDENT AMENITY
RESIDENT GREEN FEE AMENITY 2,226,530 2,173,069 53,461 2,050,963 175,567 1,390,587 835,943 TOTAL RESIDENT AMENITY 2,226,530 2,173,069 53,461 2,050,963 175,567 1,390,587 835,943 AS % OF REVENUE 28.70%25.41%3.29%36.88%-8.18%27.05%1.64% NET OPERATING INCOME W/AMENITY 7,370,465 8,241,210 (870,745) 5,495,383 1,875,083 4,824,876 2,545,589 AS % OF REVENUE 94.99%96.37%-1.38%98.81%-3.82%93.87%1.12%

ROU LEASE DEPRECIATION EXPENSES
ROU LEASE DEPRECIATION EXPENSES 75,775 125,925 (50,150) - 75,775 286,878 (211,103) TOTAL ROU LEASE DEPRECIATION EXPENSES 75,775 125,925 (50,150) - 75,775 286,878 (211,103) NET INCOME AFTER DEPRECIATION 7,294,691 8,115,285 (820,594) 5,495,383 1,799,308 4,537,999 2,756,692 PAYROLL STATS:

FULL TIME EQUIVILANCE 26.56 29.03 (2.47) 20.58 5.98 25.17 1.39

INDIAN WELLS GOLF RESORT
2022-2023 BUDGET SUMMARY

GOLF & GOLF ACADEMY

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2022-23 Budget 2021-22 Actuals Variance 2020-21 Actuals Variance 2019-20 Actuals Variance

REVENUES
MERCHANDISE REVENUE 1,493,372 1,544,586 (51,214) 760,394 732,978 881,642 611,730 TOTAL REVENUES 1,493,372 1,544,586 (51,214) 760,394 732,978 881,642 611,730 AVERAGE PER ROUND 22.10 20.19 1.91 12.38 9.72 15.63 6.47

COST OF SALES
COST OF SALES 798,209 819,737 (21,528) 409,012 389,198 483,366 314,843 TOTAL COST OF SALES 798,209 819,737 (21,528) 409,012 389,198 483,366 314,843 AS % OF REVENUE 53.45%53.07%0.38%53.79%-0.34%54.83%-1.38% GROSS MARGIN 695,163 724,849 (29,686) 351,382 343,780 398,276 296,887

PAYROLL
PAYROLL 239,617 189,440 50,177 141,876 97,741 149,227 90,390 TOTAL PAYROLL 239,617 189,440 50,177 141,876 97,741 149,227 90,390 AS % OF REVENUE 16.05%12.26%3.78%18.66%-2.61%16.93%-0.88%

OPERATING EXPENSES
OPERATING EXPENSES 40,370 35,128 5,242 87,524 (47,153) 25,292 15,078 TOTAL OPERATING EXPENSES 40,370 35,128 5,242 87,524 (47,153) 25,292 15,078 AS % OF REVENUE 2.70%2.27%0.43%11.51%-8.81%2.87%-0.17%
NET OPERATING INCOME 415,176 500,281 (85,105) 121,983 293,193 223,756 191,419 AS % OF REVENUE 27.80%32.39%-4.59%16.04%11.76%25.38%2.42%

RESIDENT MERCHANDISE DISCOUNT AMENITY
RESIDENT MERCHANDISE DISCOUNT AMENITY 23,697 29,937 (6,241) 24,882 (1,185) 14,746 8,951 TOTAL RESIDENT DISCOUNT AMENITY 23,697 29,937 (6,241) 24,882 (1,185) 14,746 8,951 AS % OF REVENUE 1.59%1.94%-0.35%3.27%-1.69%1.67%-0.09%
NET OPERATING INCOME W/AMENITY 438,873 530,218 (91,346) 146,865 292,008 238,502 200,371 AS % OF REVENUE 29.39%34.33%-4.94%19.31%10.07%27.05%2.34% PAYROLL STATS:

FULL TIME EQUIVILANCE 3.71 3.19 0.52 2.42 1.29 2.92 0.79

INDIAN WELLS GOLF RESORT
2022-2023 BUDGET SUMMARY

MERCHANDISE

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2022-23 Budget 2021-22 Actuals Variance 2020-21 Actuals Variance 2019-20 Actuals Variance

PAYROLL
PAYROLL 2,306,705 1,675,908 630,797 1,740,029 566,676 1,741,890 564,815 TOTAL PAYROLL 2,306,705 1,675,908 630,797 1,740,029 566,676 1,741,890 564,815

OPERATING EXPENSES
OPERATING EXPENSES 1,357,160 1,303,276 53,883 807,344 549,815 655,882 701,278 TOTAL OPERATING EXPENSES 1,357,160 1,303,276 53,883 807,344 549,815 655,882 701,278

UTILITIES
UTILITIES 663,832 631,987 31,844 473,974 189,858 369,269 294,563 TOTAL UTILITIES 663,832 631,987 31,844 473,974 189,858 369,269 294,563 NET OPERATING INCOME (LOSS)4,327,696 3,611,172 716,524 3,021,347 1,306,349 2,767,040 1,560,656

ROU LEASE DEPRECIATION EXPENSES
ROU LEASE DEPRECIATION EXPENSES 77,705 80,781 (3,076) - 77,705 74,220 3,485 TOTAL ROU LEASE DEPRECIATION EXPENSES 77,705 80,781 (3,076) - 77,705 74,220 3,485 NET INCOME (LOSS) AFTER DEPRECIATION (4,405,401) (3,691,953) (713,448) (3,021,347) (1,384,054) (2,841,260) (1,564,141) PAYROLL STATS:

FULL TIME EQUIVILANCE 35.85 34.54 1.31 35.08 0.77 37.92 (2.07)

INDIAN WELLS GOLF RESORT
2022-2023 BUDGET SUMMARY

GOLF COURSE MAINTENANCE

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2022-23 Budget 2021-22 Actuals Variance 2020-21 Actuals Variance 2019-20 Actuals Variance

PAYROLL
PAYROLL 567,104 502,758 64,345 376,495 190,609 368,144 198,960 TOTAL PAYROLL 567,104 502,758 64,345 376,495 190,609 368,144 198,960

OPERATING EXPENSES
OPERATING EXPENSES 144,651 197,641 (52,990) 97,612 47,039 111,346 33,305 TOTAL OPERATING EXPENSES 144,651 197,641 (52,990) 97,612 47,039 111,346 33,305

UTILITIES
UTILITIES 430,771 389,736 41,035 292,128 138,643 291,981 138,790 TOTAL UTILITIES 430,771 389,736 41,035 292,128 138,643 291,981 138,790 NET INCOME (LOSS)(1,142,525) (1,090,135) (52,390) (766,235) (376,290) (771,471) (371,055) PAYROLL STATS:

FULL TIME EQUIVILANCE 9.00 8.84 0.16 6.67 2.33 7.08 1.92

INDIAN WELLS GOLF RESORT
2022-2023 BUDGET SUMMARY

BUILDING

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2022-23 Budget 2021-22 Actuals Variance 2020-21 Actuals Variance 2019-20 Actuals Variance

OTHER NON-OPERATING INCOME
OTHER NON-OPERATING INCOME 45,088 54,348 (9,260) 31,671 13,418 41,676 3,412 TOTAL OTHER NON-OPERATING INCOME 45,088 54,348 (9,260) 31,671 13,418 41,676 3,412

PAYROLL
PAYROLL 1,301,629 1,219,574 82,055 949,272 352,357 1,127,027 174,602 TOTAL PAYROLL 1,301,629 1,219,574 82,055 949,272 352,357 1,127,027 174,602

OPERATING EXPENSES
OPERATING EXPENSES 765,973 706,219 59,754 530,847 235,126 588,290 177,682 TOTAL OPERATING EXPENSES 765,973 706,219 59,754 530,847 235,126 588,290 177,682 NET OPERATING INCOME (2,022,514) (1,871,445) (151,069) (1,448,448) (574,066) (1,673,641) (348,873)

ROU LEASE DEPRECIATION EXPENSES
ROU LEASE DEPRECIATION EXPENSES 2,670 2,843 (173) - 2,670 3,987 (1,317) TOTAL ROU LEASE DEPRECIATION EXPENSES 2,670 2,843 (173) - 2,670 3,987 (1,317) NET INCOME (LOSS) AFTER DEPRECIATION (2,025,184) (1,874,288) (150,896) (1,448,448) (576,736) (1,677,627) (347,556) PAYROLL STATS:

FULL TIME EQUIVILANCE 10.21 10.40 (0.19) 7.92 2.29 13.42 (3.21)

INDIAN WELLS GOLF RESORT
2022-2023 BUDGET SUMMARY

GENERAL & ADMINISTRATIVE

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2022-23 Budget 2021-22 Actuals Variance 2020-21 Actuals Variance 2019-20 Actuals Variance COVERS
COVERS 207,897 239,297 (31,400) 120,144 87,753 181,126 26,771 COVERS - RESIDENT 6,548 6,911 (363) 6,328 220 8,514 (1,966) TOTAL COVERS 214,445 246,208 (31,763) 126,472 87,973 189,640 24,805 AVERAGE PER COVER 25.28 23.96 1.32 21.01 4.27 19.80 5.48

REVENUES
FOOD & BEVERAGE REVENUE 5,421,219 5,898,516 (477,297) 2,657,150 2,764,070 3,755,154 1,666,065 TOTAL REVENUES 5,421,219 5,898,516 (477,297) 2,657,150 2,764,070 3,755,154 1,666,065

COST OF SALES
COST OF SALES 1,500,549 1,608,593 (108,044) 710,700 789,849 1,167,407 333,142 TOTAL COST OF SALES 1,500,549 1,608,593 (108,044) 710,700 789,849 1,167,407 333,142 AS % OF REVENUE 27.68%27.27%0.41%26.75%0.93%31.09%-3.41% GROSS MARGIN 3,920,670 4,289,923 (369,253) 1,946,449 1,974,221 2,587,747 1,332,924

PAYROLL
PAYROLL 2,548,909 2,785,253 (236,344) 1,561,227 987,682 2,231,526 317,382 TOTAL PAYROLL 2,548,909 2,785,253 (236,344) 1,561,227 987,682 2,231,526 317,382 AS % OF REVENUE 47.02%47.22%-0.20%58.76%-11.74%59.43%-12.41%

OPERATING EXPENSES
OPERATING EXPENSES 717,618 711,459 6,159 377,534 340,084 675,034 42,584 TOTAL OPERATING EXPENSES 717,618 711,459 6,159 377,534 340,084 675,034 42,584 AS % OF REVENUE 13.24%12.06%1.18%14.21%-0.97%17.98%-4.74% NET OPERATING INCOME 654,143 793,211 (139,067) 7,688 646,455 (318,813) 972,957 AS % OF REVENUE 12.07%13.45%-1.38%0.29%11.78%-8.49%20.56%

RESIDENT DISCOUNT AMENITY
RESIDENT DISCOUNT AMENITY 38,749 48,952 (10,203) 38,848 (99) 52,711 (13,962) TOTAL RESIDENT DISCOUNT AMENITY 38,749 48,952 (10,203) 38,848 (99) 52,711 (13,962) AS % OF REVENUE 0.71%0.83%-0.12%1.46%-0.75%1.40%-0.69%
NET OPERATING INCOME W/AMENITY 692,893 842,163 (149,270) 46,536 646,356 (266,102) 958,995 AS % OF REVENUE 12.78%14.28%-1.50%1.75%11.03%-7.09%19.87%

ROU LEASE DEPRECIATION EXPENSES
ROU LEASE DEPRECIATION EXPENSES 2,410 2,887 (477) - 2,410 1,367 1,044 TOTAL ROU LEASE DEPRECIATION EXPENSES 2,410 2,887 (477) - 2,410 1,367 1,044 AS % OF REVENUE 0.04%0.05%0.00%0.00%0.04%0.04%0.01%
NET INCOME AFTER DEPRECIATION 690,482 839,275 (148,793) 46,536 643,946 (267,469) 957,951 AS % OF REVENUE 12.74%14.23%-1.49%1.75%10.99%-7.12%19.86% PAYROLL STATS:

FULL TIME EQUIVILANCE 44.60 56.90 (12.30) 25.16 19.44 44.33 0.27

INDIAN WELLS GOLF RESORT
2022-2023 BUDGET SUMMARY

FOOD & BEVERAGE CONSOLIDATED

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2022-23 Budget 2021-22 Actuals Variance 2020-21 Actuals Variance 2019-20 Actuals Variance COVERS
COVERS - RESTAURANT 52,592 58,563 (5,971) 56,380 (3,788) 59,697 (7,105) COVERS - RESIDENT 6,548 6,911 (363) 6,328 220 8,514 (1,966) TOTAL COVERS 59,140 65,474 (6,334) 62,708 (3,568) 68,211 (9,071) AVERAGE PER COVER 38.85 34.48 4.37 28.92 9.93 28.22 10.63

REVENUES
FOOD & BEVERAGE REVENUE 2,297,765 2,257,642 40,123 1,813,436 484,329 1,925,033 372,731 TOTAL REVENUES 2,297,765 2,257,642 40,123 1,813,436 484,329 1,925,033 372,731

COST OF SALES
COST OF SALES 802,885 779,073 23,812 537,156 265,729 703,217 99,668 TOTAL COST OF SALES 802,885 779,073 23,812 537,156 265,729 703,217 99,668 AS % OF REVENUE 34.94%34.51%0.43%29.62%5.32%36.53%-1.59% GROSS MARGIN 1,494,880 1,478,569 16,312 1,276,280 218,600 1,221,817 273,063

PAYROLL
PAYROLL 1,655,439 1,703,597 (48,158) 1,053,392 602,047 1,494,784 160,654 TOTAL PAYROLL 1,655,439 1,703,597 (48,158) 1,053,392 602,047 1,494,784 160,654 AS % OF REVENUE 72.05%75.46%-3.41%58.09%13.96%77.65%-5.60%

OPERATING EXPENSES
OPERATING EXPENSES 325,286 300,153 25,134 261,219 64,068 353,204 (27,917) TOTAL OPERATING EXPENSES 325,286 300,153 25,134 261,219 64,068 353,204 (27,917) AS % OF REVENUE 14.16%13.29%0.86%14.40%-0.25%18.35%-4.19% NET OPERATING INCOME (485,845) (525,181) 39,336 (38,330) (447,515) (626,171) 140,326 AS % OF REVENUE -21.14%-23.26%2.12%-2.11%-19.03%-32.53%11.38%

RESIDENT DISCOUNT AMENITY
RESIDENT DISCOUNT AMENITY 36,796 47,678 (10,882) 38,269 (1,473) 51,990 (15,194) TOTAL RESIDENT DISCOUNT AMENITY 36,796 47,678 (10,882) 38,269 (1,473) 51,990 (15,194) NET OPERATING INCOME W/AMENITY (449,049) (477,503) 28,454 (61) (448,988) (574,181) 125,132 AS % OF REVENUE -19.54%-21.15%1.61%0.00%-19.54%-29.83%10.28%

ALLOCATED PAYROLL
ALLOCATED PAYROLL (591,176) (695,435) 104,259 (262,880) (328,296) (498,639) (92,537) TOTAL ALLOCATED PAYROLL (591,176) (695,435) 104,259 (262,880) (328,296) (498,639) (92,537) NET INCOME W/ ALLOCATED PAYROLL 142,127 217,932 (75,805) 262,819 (120,692) (75,542) 217,669 AS % OF REVENUE 6.19%9.65%-3.47%14.49%-8.31%-3.92%10.11% PAYROLL STATS:

FULL TIME EQUIVILANCE 29.30 34.19 (4.89) 17.17 12.13 22.73 6.57

INDIAN WELLS GOLF RESORT
2022-2023 BUDGET SUMMARY

VUE GRILLE & BAR

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2022-23 Budget 2021-22 Actuals Variance 2020-21 Actuals Variance 2019-20 Actuals Variance COVERS
COVERS - BEV CART/SNACK BAR 67,573 76,679 (9,106) 61,430 6,143 56,404 11,169 TOTAL COVERS 67,573 76,679 (9,106) 61,430 6,143 56,404 11,169 AVERAGE PER COVER 8.55 8.13 0.42 6.01 2.54 5.64 2.91

REVENUES
FOOD & BEVERAGE REVENUE 577,808 623,138 (45,330) 369,115 208,693 317,975 259,833 TOTAL REVENUES 577,808 623,138 (45,330) 369,115 208,693 317,975 259,833

COST OF SALES
COST OF SALES 133,185 142,584 (9,400) 80,363 52,822 71,660 61,525 TOTAL COST OF SALES 133,185 142,584 (9,400) 80,363 52,822 71,660 61,525 AS % OF REVENUE 23.05%22.88%0.17%21.77%1.28%22.54%0.51% GROSS MARGIN 444,623 480,554 (35,930) 288,752 155,871 246,315 198,308

PAYROLL
PAYROLL 125,862 158,766 (32,903) 106,230 19,633 101,830 24,032 TOTAL PAYROLL 125,862 158,766 (32,903) 106,230 19,633 101,830 24,032 AS % OF REVENUE 21.78%25.48%-3.70%28.78%-7.00%32.02%-10.24%

OPERATING EXPENSES
OPERATING EXPENSES 72,375 69,321 3,053 53,245 19,130 69,634 2,741 TOTAL OPERATING EXPENSES 72,375 69,321 3,053 53,245 19,130 69,634 2,741 AS % OF REVENUE 12.53%11.12%1.40%14.43%-1.90%21.90%-9.37% NET OPERATING INCOME 246,386 252,467 (6,080) 129,277 117,109 74,851 171,535 AS % OF REVENUE 42.64%40.52%2.13%35.02%7.62%23.54%19.10%

ALLOCATED PAYROLL
ALLOCATED PAYROLL 126,447 132,032 (5,586) 129,942 (3,496) 129,321 (2,875) TOTAL ALLOCATED PAYROLL 126,447 132,032 (5,586) 129,942 (3,496) 129,321 (2,875) NET INCOME W/PAYROLL ALLOCATED 119,940 120,434 (495) (665) 120,604 (54,470) 174,410 AS % OF REVENUE 20.76%19.33%1.43%-0.18%20.94%-17.13%37.89% PAYROLL STATS:

FULL TIME EQUIVILANCE 2.70 3.46 (0.76) 3.50 (0.80) 3.75 (1.05)

INDIAN WELLS GOLF RESORT
2022-2023 BUDGET SUMMARY

BEVERAGE CARTS

Page 49 of 88 ends

2022-23 Budget 2021-22 Actuals Variance 2020-21 Actuals Variance 2019-20 Actuals Variance COVERS
COVERS - BANQUET 18,661 25,251 (6,590) 2,334 16,327 12,897 5,764 TOTAL COVERS 18,661 25,251 (6,590) 2,334 16,327 12,897 5,764 AVERAGE PER COVER 105.62 97.02 8.61 46.43 59.19 90.29 15.34

REVENUES
FOOD & BEVERAGE REVENUE 1,971,058 2,449,750 (478,692) 108,376 1,862,682 1,164,439 806,619 TOTAL REVENUES 1,971,058 2,449,750 (478,692) 108,376 1,862,682 1,164,439 806,619

COST OF SALES
COST OF SALES 459,088 575,592 (116,504) 25,002 434,085 312,800 146,288 TOTAL COST OF SALES 459,088 575,592 (116,504) 25,002 434,085 312,800 146,288 AS % OF REVENUE 23.29%23.50%-0.20%23.07%0.22%26.86%-3.57% GROSS MARGIN 1,511,970 1,874,158 (362,188) 83,374 1,428,596 851,640 660,331

PAYROLL
PAYROLL 591,626 753,248 (161,622) 215,340 376,286 436,305 155,321 TOTAL PAYROLL 591,626 753,248 (161,622) 215,340 376,286 436,305 155,321 AS % OF REVENUE 30.02%30.75%-0.73%198.70%-168.68%37.47%-7.45%

OPERATING EXPENSES
OPERATING EXPENSES 251,995 280,669 (28,674) 12,532 239,463 163,118 88,878 TOTAL OPERATING EXPENSES 251,995 280,669 (28,674) 12,532 239,463 163,118 88,878 AS % OF REVENUE 12.78%11.46%1.33%11.56%1.22%14.01%-1.22% NET OPERATING INCOME 668,349 840,241 (171,892) (144,498) 812,847 252,217 416,132 AS % OF REVENUE 33.91%34.30%-0.39%-133.33%167.24%21.66%12.25%

ALLOCATED PAYROLL
ALLOCATED PAYROLL 374,167 476,568 (102,401) 32,427 341,740 276,585 97,582 TOTAL ALLOCATED PAYROLL 374,167 476,568 (102,401) 32,427 341,740 276,585 97,582 NET INCOME W/ALLOCATED PAYROLL 294,182 363,673 (69,491) (176,925) 471,107 (24,368) 318,550 AS % OF REVENUE 14.93%14.85%0.08%-163.25%178.18%-2.09%17.02% PAYROLL STATS:

FULL TIME EQUIVILANCE 8.90 14.94 (6.04) 1.03 7.87 13.75 (4.85)

INDIAN WELLS GOLF RESORT
2022-2023 BUDGET SUMMARY

BANQUET & CATERING

Page 50 of 88 ends

2022-23 Budget 2021-22 Actuals Variance 2020-21 Actuals Variance 2019-20 Actuals Variance COVERS
HOURS - SHOTS IN THE NIGHT 2,473 1,541 932 - 2,473 1,376 1,097 COVERS - FOOD TRUCK 69,071 78,804 (9,733) - 69,071 52,128 16,943 TOTAL HOURS AND COVERS 71,543 80,345 (8,802) - 71,543 53,504 18,039 AVERAGE PER COVER 8.03 7.07 0.96 #DIV/0!#DIV/0!6.50 1.53

REVENUES
FOOD & BEVERAGE REVENUE 445,772 445,223 549 293,419 152,354 274,275 171,497 SHOTS IN THE NIGHT REVENUES 128,816 122,764 6,052 72,804 56,012 73,432 55,384 TOTAL REVENUES 574,588 567,987 6,602 366,223 208,366 347,707 226,882

COST OF SALES
COST OF SALES 105,392 111,344 (5,952) 68,180 37,212 79,732 25,661 TOTAL COST OF SALES 105,392 111,344 (5,952) 68,180 37,212 79,732 25,661 AS % OF REVENUE 18.34%19.60%-1.26%18.62%-0.27%22.93%-4.59% GROSS MARGIN 469,196 456,643 12,554 298,043 171,154 267,975 201,221

PAYROLL
PAYROLL 175,981 169,642 6,339 186,265 (10,284) 198,607 (22,625) TOTAL PAYROLL 175,981 169,642 6,339 186,265 (10,284) 198,607 (22,625) AS % OF REVENUE 30.63%29.87%0.76%50.86%-20.23%57.12%-26.49%

OPERATING EXPENSES
OPERATING EXPENSES 70,507 64,436 6,072 50,582 19,925 90,838 (20,331) TOTAL OPERATING EXPENSES 70,507 64,436 6,072 50,582 19,925 90,838 (20,331) AS % OF REVENUE 12.27%11.34%0.93%13.81%-1.54%26.12%-13.85% NET OPERATING INCOME 222,708 222,565 143 61,195 161,512 (21,470) 244,178 AS % OF REVENUE 38.76%39.18%-0.43%16.71%22.05%-6.17%44.93%

RESIDENT DISCOUNT AMENITY
RESIDENT DISCOUNT AMENITY 1,953 1,274 679 579 1,374 721 1,232 TOTAL RESIDENT DISCOUNT AMENITY 1,953 1,274 679 579 1,374 721 1,232 NET OPERATING INCOME W/AMENITY 224,661 223,839 822 61,774 162,887 (20,749) 245,410 AS % OF REVENUE 39.10%39.41%-0.31%16.87%22.23%-5.97%45.07%

ALLOCATED PAYROLL
ALLOCATED PAYROLL 90,562 86,835 3,727 100,511 (9,949) 92,733 (2,171) TOTAL ALLOCATED PAYROLL 90,562 86,835 3,727 100,511 (9,949) 92,733 (2,171) NET INCOME W/ ALLOCATED PAYROLL 134,099 137,004 (2,905) (38,737) 172,835 (113,482) 247,581 AS % OF REVENUE 23.34%24.12%-0.78%-10.58%33.92%-32.64%55.98% PAYROLL STATS:

FULL TIME EQUIVILANCE 3.71 5.19 (1.48) 3.47 0.24 4.10 (0.39)

INDIAN WELLS GOLF RESORT
2022-2023 BUDGET SUMMARY

FOOD TRUCK/SITN

Page 51 of 88 ends

Indian Wells Golf Resort
Conservative Approach Budget for the Fiscal Year 2022-23 July 15, 2022
Conservative Budget Assumptions
This conservative approach Golf Resort budget contemplates a softening in the tourism markets and anticipated operating reductions. Supporting this conservative approach, staff relied on current economic data, considered historical trends and data collected during the last recession, and modified operations during the pandemic to assist with revenue projections.

While this conservative approach recognizes a slowing in revenues, staff is also acutely aware of the competitive labor market established during COVID, national and local employee attraction and retention issues, increases in employee compensation, and inflationary impacts on purchased goods and services. The “perfect storm” of decreasing revenues, market compression, and inflation-increasing expenses.

National Economic Outlook
Healthy economic and tourism conditions are the primary drivers for financial success at the Indian Wells Golf Resort. However, given ongoing concerns relating to the pandemic, plausible consumption of pent-up demand, escalating fuel prices, impacts of quantitative easing, inflationary effects, negative performance in the financial markets, housing slow down spurred by rising mortgage rates, and the long-term view of the economy, the City has chosen a fiscally conservative approach in the development of the Indian Wells Golf Resort operating budget for the Fiscal Year 2022-23.

Recent online travel articles report that the new number one travel concern was the economic outlook versus a year ago when the number one concern travel concern was coronavirus. The Coachella Valley has always been a lagging indicator compared to the national economy. Therefore, much of the following analysis considers the more extended national economic outlook. This analysis finds reductions in national tourism, travel, and compression in the Los Angeles, San Deigo, and Scottdale drive markets.

ATTACHMENT #2

Page 52 of 88 ends

Golf Resort Budgetary Summary

Budgetary assumptions are broken down into critical operating programs. These critical operating programs include Golf & Merchandise, Vue Grille and Bar, and the Banquet and Catering businesses.

Golf & Merchandise

Despite the Golf Resort’s goals to the contrary, it is anticipated that golf rounds will decline during the year as the economy worsens. Tournament and outside rounds are expected to significantly decline as businesses tighten ancillary spending and overall tourism and travel decreases. Overall, rounds are expected to reach 67,537, representing a 12% reduction over the prior year. Nevertheless, golf rounds are still likely to surpass rounds experienced during the COVID lockdown period.

With inflationary concerns worsening, the average daily rate is anticipated to increase as operating costs increase. Because of the above factors, golf fee revenues are expected to reach $7.3 million compared to $8.0 million in the prior year.

Merchandise revenues largely track the number of anticipated golf rounds. Tournament and outside rounds (tourists) are the primary spenders in the Golf Shop. Reducing golf rounds as discussed above adjusted anticipated revenues to $1.5 million, a 3.3% decrease.

Looking toward Golf’s operating costs. The cost of sales calculated as a percentage of revenues is expected to remain flat to the prior year at 10.5%. Employee compensation within the Golf program accounts for the most significant increase in the budget compared to the preceding year.

The Golf Resort has not kept current with rising employee compensation and last year’s labor shortage saw staff attrition and difficulty attracting replacement staff. The Golf Resort’s employee compensation program was inconsistent with the Coachella Valley labor markets. IWGR’s executive team completed a comprehensive employee compensation review and took corrective action. Golf payroll is projected to increase from $3.3 million in the previous year to $4.2 million in the Fiscal Year 2022-23. The $0.9 million increase consists of the following:

1. Golf Maintenance union wage and FTE increase: $0.6 million

2. Adding back Golf Valet: $0.1 million (November through April)

3. Salary increases for executive Golf and professional positions: $0.2 million

Page 53 of 88 ends

Vue Grille and Bar

Troon’s original goal to expand covers by extending operations and marketing to residents and other local markets has been removed in this more conservative format.

It is anticipated that Vue will be hit especially hard by a worsening economic outlook.

This is because Vue’s number one driver of covers is tourism.

Covers are expected to decline during the year as the national economy worsens, with the most profound impacts expected during the third quarter of the fiscal year. In addition, intermittent staffing concerns are expected to hamper ongoing operations or opportunities to expand. As a result, Vue covers are expected to reach 59,140, representing a 9.7% reduction over the prior year.

Looking toward Vue’s operating costs. The cost of sales calculated as a percentage of revenues is expected to remain flat to the prior year at 34.9%. The Golf Resort will compensate for the rising food costs by increasing menu prices and changing items based on availability. Vue’s extremely high food quality will remain a priority.

Employee compensation within the Vue program is expected to decrease from 75.5% to

72.0% as a percentage of revenue, and total operating costs will continue to run at about 14%.

Banquet and Catering

The Resort’s banquet business is expected to decline despite the number of events already under contract and current PACE booking rates. As a result, total covers are expected to decrease from 25,251 to 18,661, causing revenues to drop from $2.5 million to $1.9 million. The Golf Resort has approximately $1.2 million in booked business for the year, meaning it needs just $0.7 million to meet this revised budget goal.

Looking toward Banquet’s operating costs. The cost of sales calculated as a percentage of revenues is expected to remain flat to the prior year at 23.3%. The Golf Resort will compensate for the rising food costs by increasing banquet prices and changing items based on availability. The Resort’s extremely high food quality will remain a priority.

Employee compensation within the Vue program is expected to remain flat to the prior year at roughly 30.0% as a percentage of revenue, and total operating costs will continue to run at about 12.0%.

Page 54 of 88 ends

INDIAN WELLS GOIF RESORT
2022-2023 BU DG ET SU MMARY
COT{SOLIDATED
2020-21 Adurlr Vttianft2Ol2-21 5udg.t 2021-22 FoRn 2019-20 Actu.lt Varirn6 ROUHDS
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PAYROLL STAI9:

FULL NME EQUIYILANCE 1,r8,60 t35,09 tt,5t 97,43 50,77 t30.8J 1r.77 ATTACHMENT #3

Page 55 of 88 ends

INDIAN WELTS GOIF RESORT
2022-2023 BU DGET SUMMARY
GOLF, GOIF ACADEMY, MERC}IANDISE AilD GOLF MAINTENANCE
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Page 56 of 88 ends

INDIAT{ WETLS GOIF RESORT
2022-2023 BU DGET SU l"l MARY

GOLF & GOLF ACADEMY
ROUilN
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Page 57 of 88 ends

2o22-et Oudget' 2Ot1-22 For€c.tt Varianc€2O2O-21 Acturlr Va.irne lO19-20 Actua13 Vrdance

53.1qh -0.33%

INDIAN WELLS GOLF RESORT
2022.2023 BU DG ET SU M MARY

MERCHANDISE
.. 1593,09!.". . .!15-_19,3-??".r82,827 7601394- 9l2JO5. 881,642 REVeilUgS
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.3-0,.1!Q-.

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2,96

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7,08
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-0.17%.

27.O9ptt.3.61qo

2.92 t.72

29.160h
.25,!Q2 3

30.66%
/r80

4.04

Page 58 of 88 ends

INDIAN WELLS GOLF RESORT
2022-2023 BUDG ET SU MMARY

GOLF COURSE MAINTENANCE
2022-23 Budget 2021-22 Foffist Variance 2020-21 Actualj Varirne 2019-20 Actoal6 varianc PA!EOr.r

P YROIL
UNLrIlES
untmes
Rqu tEAsE oEPREqlAnOil EIpEr'tS,Es
RQU .lFAsg 0EPREC|AIIOil EXP€NSES
PAYROLL SrAlSl
FULT M+'E EQOIVIUNCE
2rroo.879 1,719148€
64&4,35 6ltr730
8!,9q5

36.50 35.17
581,.393 . L?4q,Q?9 . s60r85o 1r741,89O
:
80-J,344,s491L2 655,882
1q8r461 991,?.q.9.
77t705 74.220

35.08 1,42 37.02
5561989
7QL,t74
273,166
31485
(t.42)
,ofERATIt{G EXptt{tCS
oPe RAnNG 8(Peil5€5 30,032
30,70s

7.33 47tP74
'7r7o,
( 2,841,250)( 1,536,8 15)

Page 59 of 88 ends

INDIAN WELLS GOLF RESORT
2022-2023 BUDG ET SU M MARY

BUILDING

PAYROIT

FAYROTL
OPERANil6 EXPEIISES

OPERANNG EXPENSES

UTIIJNET
urluTlEs
567,104 :498,584
144165l _ 1l}7,28
:
424p7t i .${,ry9 . 49,1!2
6&5ZO 376,!9s . 19g1609 . ... .. . ...3-6!,!.!{.. 19&960 4l,q!-9 ,. 1U,3,45-.
292r1ul. L3?,q4,3 i .- . -29,1991.
13,1!!,
u12,990
PAYROIL SIA|S;
FUil
'THE
EQUIVILAHCE 9.OO 8.58 0,42 6.67 2.33 7.0a 1-92
Vtliancg2022-23 tudg€t 2021-22 Fo16st 2O2O-21 Actu.ls Vrrirnc€2019-20 Actualc V!ritnc€ iIET I ( 766, t35)('n t,47t)(36s,2ss)E I 370,490)

Page 60 of 88 ends

INDIAN WELLS GOLF RESORT
2422.2023 BU DG ET SU M MARY

GENERAL & ADMINISTRATIVF
2022-23 Budgst 2020-21 Actuab Vathn@2021-22 Forccast ; vrrlance 2019-20 Actuals Vralrrc orH E 8..No! :9P gRAll ri8 !!Co-lrlE
oTHER NON -oirRATtt{g !fl qoIE 31,671 r3,418 t,4t24sr08l!53,95r (8,863) 1,440ra52, t2S6,i6r. 154385
41,676
:
1t127,O27 -
?AYROLL

PAYROTL
{4,7r1
.942.?11 . 49rrs81
553r9!q : 21qr902
313,82s
176,5t1
(1,42)
BgulEAsE rlpRECr llofl S(FEilSES
ROU LEASE DEPRICIATION EXPEIiS€$
PAYROU SfAfS:

FUtL nHE EQUIVTLA|VCE
2167O
t2.oo
21852 .

10.0a r,92 7,92
2$70
4,08
3,98-7
19,42
(1,317).

OPERATIN6 EXPENSCS
OPERATING OOENS€5

Page 61 of 88 ends

INDIAN WELLS GOLF RESORT
2022- 2023 BU DGET SU M MARY

FOOD & BEVERAGE CONSOLIDATED
2021-23 Bud!et 202t.22 Forcst Varlanc€Va,lan(e ' 2020-21 Actuals 2019-20 Actuals Varlanc lqvrilurs
FO@T BSVEN'6E REVEM'E
co'r oF 6{tls
cosTor saes
covERs
COVERS

COVERS - RESIDEMT

PAYROLL

PAYROTI

AVEMGE PER COVER
2r3l6J.
7,4?9.:
28,40't20,\44
6r!181,612
?Q,tr- I
1,35E798 1q48,qqc
7-{l,0Er.
:
18,30Vo'
4qg,40q f,,7514227 .
111,95?
tlt2
4,501,32q- l
11276'5r8
-!a36.o/ql
trt6J:.QI
52t7r'
3!429!026
850,252
-3,AO'/o
L!p,q13
-lq,l7olo
1361789
-6.640/0
23,9506
6,890 .
-o,9to/o
,.!.Er'12.Q
8,514
60,9r5
1,5.26
t,t8a,l80 .
4,25r,340
4s.269o
!L3Q9/q:
t5.160/0

59.60r .

0.83o/o
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rr6rs,883
2,7rOtgao
991,?5!
1,,r55,1s1
2,017,q59
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AS % S nEVEfiIJE
is q{ oF nEvEriuE
-2.29o1a.
@En nil6 a(p!flsts

OPEMTING EXPENSES
RESIDEI{T DISCOUTTT AMENTTV

RESIOENT DISCOUNT AMENTTY
1r4r570
-0.669c
2160o/o
5,994 ,
L4.42olc "3.rzo.!j. -

17.690/s,
i

20.753
,
-0,09 L48o/o .0.65%:

AS % OF REVENUE
AS O/O OF REV!T{.,E
-0,85o1o 23,1r%
ROU r"lAS! OttRrcrArtofi tXPtltStS
ROU r.EAs€ D€rufiA]lott E{pEt'rs€S 2.410
O.030/o 0,05Val
.4,L61 11044
0,00o/o:0.03o/ar0.00Vo:

A5 %OF ftEVCiTUE 16.lt%17.009a,
PAynotl 57A75:

EULL NilE EQUIVIIANCE 54,00 50.58 3,42 25,16 28,54 1 4,33 9,67

Page 62 of 88 ends

INDIAN WELLS GOLF RESORT
2A22-2023 BUDGET SU M MARY

VUE GRILLE & BAR
2020-21 AdualsVariance Varlanet022-23 Eudcet ' 2O2t-22 ro@st 2019-20 Act@ls varlance cov(Rs
COVERS . RE''AUMNT
COVER5 . RESIDEN'
649s0
10,94q
5q903 .
'lA?8.
2,858,130 ,1.254,502
l!t.8o{ti:

Lp47lA2

66.llqb
360.i146 3oltl?
12,510/c"
2a31 t0.85
604,1r8j .L775,!46: 11083,584
24t,4A9 567,536

0.88o/a
I|O5lrl92 ;894,390
-r.650/o 59,34olor
52,694 l!1,?1e
-o.02'/o 14,r20k,-2.lLla

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It494,784 ,
Tl.6Se/o
!q3,294
-32'51o/o.
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l,ln6
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,,242 |
.5.l1ok
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9,1?C
615t0
?,7\?
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]\9 %OF R,EVEfiUE

PAYROLL

39.17 RCVtatuts
f@D&8€Vt8 G€n€V€ilUe
cosr oFSAtrs
COST OF SALES r.0{8,555 aot 066 {atr019
117081548 23912!a
oplnAflN6!xptil5as
OPEMTING D(PENSE5
.^s % of EEv€ryuF
AS o/o OF REIENUE
tcslogilr blscourr $ltlrrTv
99'227
-11.f9o/or
RESTO€|{r DlSCOt$tT Afi f l{lTY
AS O/" OF REVENUE
stlta
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{r8rrrs9).
i2r381 2,893

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.lcqi:tt?.r,
f8r259 17,004
{srE 8r9)

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AUOCT'EO PAY{OTL
AS 'I' OF REVEI{UE rtJ6ti t.t0Cr 4.!596 .l0.taqb 0.r1%.t,t2 15.78

Page 63 of 88 ends

TNDIAN WELLS GOLF RESORT
2022-2023 BU DGET SUM MARY

BEVERAGE CARTS
qgvE!t
cory!$_ . sv cAKr6r{ qR 8 8
{vff46E H:Rqo!q!.

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s,o7
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t 9,rro

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1t1
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t.4
REVlfituES _.
fo00 a BEvERlrtr REvEilu!
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cQqrof 94rts 27,9r9
33,628 L!,6,?!.! :

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p YRoti
Alt oc^r[o p^YRor!
^l!ocArEo'.
?AYRO(!
AS oA OF twtltu€
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. ... . ...Q$,q!4
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23S{o7o,
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oPlRlna{c DotrsEi
a?f84!!4E qPfxsfs
AS O/l OF REVENUE
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:
?&oqq ;
s?{?ilq,
51i19.
-u,t8%
-t.s9o/6... . !5'0r:/q:
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;
91,699,
-9.801,r,1{.430,t1 ",r109
!Il,l:lolo!
I

Page 64 of 88 ends

INDIAN WELLS GOLF RESORT
2022. 2023 BUDGET SU M MA RY

BANQUET &CATERING
2021-22 lolEst2022-2t 2020-21 Acto.l3Varlance Varl!ne 2019.10 Actwls varlanr cov:Rs
covER-s - BANQUE 21,95r 20rtf't,274 ,2]t4 191617 - 121897 9,054 AWR.AGI PERCOr/ER
cosr oF gAtES
cosf oF sAtEs
124.ta

2.724pt3
rr.6-,!l
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s6Jt724
7,50 ,
3r3re$ .

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{6,!l
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!,lEa,'€9:
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3315 .
353,030
-2,430/s
t7,ro 9029
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fooo & 8€v€RA6[ nfVEnUE rrs601473
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1616,s15
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PAlROTL E2E,4t3 750,36tt 76,0.$2r5rt40 €6;qs
otEnanfiG ExPEfisEs

OPERATING EXPENSES

AS O/O OF REVENUE
A9 !6 OF R,€VEI{JE
A5 ji of REvfNuE
AS % OF REVENUT
524103t
15J{0/0.
471462 2r6,9!q
311108
-7,O1o/a
r2E,z8a
-3-ltD/o

12.8lolo
247,452

17.!3ota
-O.7aVo 198,.1-091q.

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0.06 .-133.atq/q
50,676
613,073:
279,974
32r'27 .491,611
r.13,uq:291,406 ;
34,1,
:57,$9
lr,tgoai .g.,lgvoj
i

ATLOCATID PAYNOLI

AILOCATED PAYROLT

0.159lo -162.a|olo 170.,190/oi

Page 65 of 88 ends

INDIAN WELLS GOLF RESORT
2022.2023 BU DGET SU MMARY

FOOD TRUCKISITN
2022-23 ludoet 2021-21 FolMst 2020-21 Actualivarlane vrrinne 2019-20 Actuls varhnre coyanS
HOURg. SIiOTS IN THE ftIG}IT
c0uE{5 . f@o rRUcK

AVEMGE PERCOVER
AS O/d OF REVEIf,IE

PAYROLL

4.718 .
80,!34 ,?a,790
+tr0
6108{
L29,497
2181t11
*Dtv/01 *Drv/0!
4,718 .
80r3J4 ,
r.r3r6
92,12t

3.l,ll

28.206 ,

RWETUES
FOOO A 8€vtAAGt nF,/Er.lUf
SHOTS IN TIiE NIGHT REVENUE5
cosT oF 9Al"E5

COST OF SALES

10.62 562,r1t
3401875
llit21620
t47U
l9l,4le
,2,A04
9&1!0

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r85.265
2681698 .
264,0rr.
ar,u6
-:.s5%
98,30!
7glt210,253
28?p42
267,{43
5E29s
-7,87olt
8s,96r
13q026 r05,zl
r!.06q9.
8{.s6a , ., !4s,0?s tjl9,/490 t98,607
85,96t
o9lRAtLt6 D(PINSES

OPEMTING E(PENSES
AS ?o OF REVENUE
AS o/o OF REVENUE
AS o/o 0F REVENUE
A5 OfREVEIIUE

90.509
3r,51%
t0.02%

41.88o/c
62,597.:

3.s9%
tttgtz

1.90o/o
5Q.q6"t.
50,58?.

13.810/0

16.?1%'

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-19.150ro.
39,92t .
-3.79o/o;

26.690/,;
-25.610/o
(32e)
-16.1.0olo

49.850/0,

26.!2%1,
RISIOTII? DISCOUFT AMENTYY
RESIDENT D'SCOUNT At.,IENIIY 4rt28 !,749
ATTOCATTD PAYROLI"
ALLOCATED PAYROLL 1r2,849 82,118 ,to,r12 toor5lt.91,r33 !o-!!qr2,338 AS ITOf RFVENI]€3r.tEqb.d!6qq.-10,58%{f.96%i 64,0196

Page 66 of 88 ends

Indian Wells Golf Resort Business Plan 2022-2023 Version 1 - 4/12/22

Page 1 of 22 ends

Business Plan 2022-2023
ATTACHMENT #4

Page 67 of 88 ends

Indian Wells Golf Resort Business Plan 2022-2023 Version 1 - 4/12/22

Page 2 of 22 ends

1. EXECUTIVE SUMMARY .......................................................................................................................................................................................................................................... 3

1.1 FINANCIAL SNAPSHOT .................................................................................................................................................................................................................................................................................................................. 3

1.2 VISION/STRATEGY OF THE CLUB .................................................................................................................................................................................................................................................................................................. 4

1.3 KEY GOALS & OBJECTIVES .......................................................................................................................................................................................................................................................................................................... 8

1.4 SALES & MARKETING STRATEGY .................................................................................................................................................................................................................................................................................................. 9

2. 2021/2022 GOALS & OBJECTIVES, ACTIONS & DELIVERABLES ....................................................................................................................................................................... 10

2.1 GOAL #1 – LEVERAGE DISTINCT COMPETITIVE ADVANTAGE ..................................................................................................................................................................................................................................................... 10

2.2 GOAL #2 – DEVELOP & RETAIN OUR ASSOCIATES .................................................................................................................................................................................................................................................................... 11

2.3 GOAL #3 – DELIGHT AND RETAIN OUR CUSTOMERS ................................................................................................................................................................................................................................................................. 12

2.4 GOAL #4 – GROW OUR CUSTOMER BASE ................................................................................................................................................................................................................................................................................. 13

2.5 GOAL #5 – HIT THE NUMBERS ................................................................................................................................................................................................................................................................................................. 14

3. 2021/2022 SALES & MARKETING STRATEGY .................................................................................................................................................................................................... 15

3.1 STRATEGIC DIRECTION .............................................................................................................................................................................................................................................................................................................. 15

3.2 KEY OBJECTIVES ................................................................................................................................................................................................................................................................................................................. 15

3.3 TARGET SEGMENTS .................................................................................................................................................................................................................................................................................................................... 16

3.4 STRATEGIES ............................................................................................................................................................................................................................................................................................................................... 17

3.5 MARKETING AND PUBLIC RELATIONS ......................................................................................................................................................................................................................................................................................... 19

3.6 TROON PROGRAMS .................................................................................................................................................................................................................................................................................................................... 20

4. 2020/2021 BUDGET & DEPARTMENT SPECIFIC PLANS .................................................................................................................................................................................... 21

5. STAFFING ORGANIZATIONAL CHARTS .............................................................................................................................................................................................................. 22

5.1 KEY STAFF ORGANIZATION CHART ............................................................................................................................................................................................................................................................................................. 22

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Indian Wells Golf Resort Business Plan 2022-2023 Version 1 - 4/12/22

Page 3 of 22 ends

1.1 Financial Snapshot 2022/23 Budget 2021/22 Actual/Forecast 2020/21 Actual 2019/20 Actual Budget Var to 21/22 Budget Var to 20/21 Budget Var to 19/20 TOTAL ROUNDS 74,727 73,797 61,430 56,402 931 13,297 18,325 Golf ADR $107.23 $102.04 $87.46 $86.31 $5.18 $19.76 $20.92 Merchandise ADR $20.07 $19.15 $12.78 $15.89 $5.18 $19.76 $4.18 F & B ADR $82.66 $74.18 $43.26 $66.21 $8.48 $30.92 $16.45 Golf Fee Revenues $8,012,669 $7,530,293 $5,372,821 $4,868,197 $482,376 $2,639,848 $3,144,472 Retail Revenues $1,500,350 $1,413,807 $785,276 $896,387 $86,544 $715,074 $603,963 Range, Rental & Other (includes
Resident Amenity)
$2,594,246 $2,447,236 $2,239,763 $1,779,233 147,010 $354,483 $815,013 Vue Revenues $2,604,969 $2,325,322 $1,813,415 $1,977,024 $279,647 $791,554 $627,945 Banquet Revenues $2,167,551 $2,033,859 $108,376 $1,164,439 $2,059,175 $133,693 $1,003,112 Food Truck Revenues $530,826 $424,117 $293,998 $274,993 $106,708 $236,828 $255,833 Beverage Cart Revenues $638,540 $567,386 $369,115 $317,975 $71,154 $269,425 $320,565 IWGR Golf Academy $270,840 $170,700 0 0 $100,140 $270,840 $270,840 TOTAL REVENUES $18,602,239 $17,091,741 $11,087,238 $11,278,641 $1,510,498 $7,515,001 $7,323,598

Total Payroll & Related $9,216,792 $7,838,213 $5,917,233 $6,844,145 $1,378,579 $3,299,559 $2,372,647 Total Expenses/Operating $3,176,125 $3,039,131 $1,891,106 $1,928,809 $136,994 $1,285,019 $1,247,316 NOI (Net Operating Income) $2,058,524 $2,362,441 $360,525 ($781,092) $(303,917) $1,697,999 $2,839,616

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Indian Wells Golf Resort Business Plan 2021-2022

Page 4 of 22 ends

1.2 Vision/Strategy of the Club

The Brand of the Indian Wells Golf Resort is a clear mission to be the best public golf experience in the Coachella Valley and Southern CA. The best playing conditions, the best hospitality, the best food and beverage amenities and the best golf entertainment experience available.

The Mission for the Indian Wells Golf Resort in 2022/2023 and the years to come is to be the finest Golf Resort in the Western United States not on the Pacific Ocean. We will achieve this goal by delivering best in class experiences and by increasing Competitive Market Share by raising ADR and Utilization in Golf Operations and by improving brand awareness, increasing golfer capture, creating signature food and beverage items in all outlets and growing our social/corporate covers in Banquets within Food and Beverage Operations.

IWGR has grown rounds, rate and utilization on both courses. We are increasing service levels in F&B, Golf tournaments and Weddings by furthering training. IWGR will continue to grow and enforce daily and group golf rate structure.

Entertainment Venue - A Main outreach of the Club and the Campus is to attract less serious and more entertainment focused guests. “Shots in the Night” will again be a primary focus to drive off peak guests to a venue that does not affect current operations. Utilizing lessons learned from the previous seasons, we will build on the successes of Shots in the Night and continue the group booking momentum we have created. We are investigating the possibility and exploring the costs of adding Top Tracer technology to enhance the range experience and Shots in the Night.

Retail – Momentum will continue to drive strong revenue with a summer refresh of the retail store.

IWGR Golf School – This addition has the capacity to be a big driver of revenue as an addition to our Stay and Play Booking engine. With the move to Pre-paid tee times and the lessening need for professional staff to manage the check-in process, we have qualified staff available to act as instructors to staff this school. The Golf school will utilize the hitting bays as an office and a headquarters for the school along with an upgraded indoor club fitting and a place to video before and after school progress. We are exploring what investment is necessary to move this initiative forward.

VUE restaurant is continuing to move in the direction of higher end service and product. Achieving this by moving away from discounting and buffets. The team is creating activations and interest such as Wine Dinners and myclub wine portal.

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Indian Wells Golf Resort Business Plan 2021-2022

Page 5 of 22 ends

1.2 Vision/Strategy of the Club

SWOT Analysis

Strengths – Resident Amenity, T.O.T. Driver, Real Estate Value, Hotel Amenity, Award Winning Courses –Strong Golf Shop- Retail, Climate, Destination Market, quality of F&B experience.

Weaknesses – Seasonality, Events/Festivals, Palm Springs Lift, Range Limitations, Limited Parking, Inventory Availability, Building Maintenance Expense, staffing and quality of talent.

Opportunities – Increased interest from campus hotels in Guest Golf Rounds, Continuous improvement on Lift to the greater Palm Springs area.

Threats– IW Campus Hotels focus Not Aligned with Golf, Inclement Weather Operations, California Compliance, Increased Private Club Access for non-members in a saturated golf market, Inflation, cost of living and housing, staffing, available talent, and payroll costs in the Valley.

Competitive Set Golf LOCATION DISTANCE HOLES / TYPE Peak Rate Shoulder Rate Off Peak Rate

PGA West
La Quinta, CA 17 Minutes 90 hole Resort $249 $169 $89
Five Resort/ Daily Fee 18 Hole Courses that supply the La Quinta Resort with ample golf inventory. No Resident Rates. This Property is our main competitor in Stay and Play Package production.

Escena Golf Club
Palm Springs, CA 30 Minutes 18 hole resort $179 $129 $89 Resort/Daily fee, 18 hole course designed by Jack Nicklaus. Large and small groups, outings and tournaments.

Desert Willow Resort
Palm Desert, CA 12 Minutes 36 hole Daily Fee $195 $129 $69 36 Hole Municipal Facility Owned by the City of Palm Desert. Resident Rates available at three days out. $48 in season

Westin Mission Hills
Rancho Mirage, CA 22 Minutes 36 Hole Resort $170 $109 $59 36 Hole Resort Facility. Aging property with lacking amenities. Accepts Resident Rate players from Rancho Mirage at three days out. $68 in season.

Classic Club
Palm Desert, CA 16 Minutes 18 Hole Daily Fee $175 $99 $69 18 Hole Privately owned facility. Golf operation is not for profit. Accepts Valley Resident Rate at three days out. $60 in season.

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Indian Wells Golf Resort Business Plan 2021-2022

Page 6 of 22 ends

1.2 Vision/Strategy of the Club

Competitive Set Banquets LOCATION DISTANCE Type of facility Breakfast Lunch Dinner

La Quinta Resort
La Quinta, CA 17 Minutes Hotel Resort $44 $46 $124
Sprawling 35-Acre resort with 650 guest rooms and multiple wedding and banquet locations. Now separate owners from PGA West.

Renaissance Esmerelda
Indian Wells, CA 0 Minutes Resort Hotel $25 $35 $66
Group centered resort hotel on the Indian Wells campus.

Desert Willow
Palm Desert, CA 12 Minutes Public Golf Club $24 $30 $58 36-Hole Public Golf Club with multiple indoor/outdoor venues.

Westin Mission Hills
Rancho Mirage, CA 22 Minutes Hotel Resort $45 $49 $95
600 guest rooms with multiple ballrooms for meeting space and events. Large capacity meeting space.

Hyatt Regency Resort
Indian Wells, CA 0 Minutes Resort Hotel $20 $28 $48
Family and Group centered resort hotel on the Indian Wells Campus

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Indian Wells Golf Resort Business Plan 2021-2022

Page 7 of 22 ends

Competitive Set
Restaurant
LOCATION DISTANCE Type of facility Happy Hour Lunch Dinner

Ernie’s at PGA West
La Quinta, CA 20 Minutes Resort Casual N/A $16-25 $30
Resort Casual. Happy Hour. Busy Lunch in Season.

Tommy Bahama
Palm Desert, CA 10 minutes Restaurant/retail $25-35 $20-40 $35 Resort Casual. Buffets for weekend Breakfast. Happy Hour in Bar.

Desert Willow
Palm Desert, CA 12 Minutes Resort Casual $15-20 $20-20 $20-20 Golf Course Casual. Busy Lunch.

Bellatrix at Classic Club
Palm Desert 5 Minutes Resort Casual $15-20 $16-24 $25-44 Golf Course Casual. Happy Hour. Food Credit part of every golf round price.

Cliff House

La Quinta 5 Minutes Standalone restaurant $16-23 N/A $38-60 High quality stand alone, destination restaurant.

Arnold Palmer Rest.

La Quinta 12 Minutes Standalone restaurant $15-30 N/A $28-54 Stand-alone, destination restaurant.

Lavender Rest.

La Quinta 12 Minutes Standalone restaurant $16-25 N/A $29-59 Stand-alone destination restaurant

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Indian Wells Golf Resort Business Plan 2021-2022

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1.3 Key Goals, Objectives & Strategies
GOAL #1 – Leverage Distinct Competitive Advantage
• Strengthen IWGR Golf Academy which will run year round and be sold through a combination of third party partners and direct marketing. • Enhance Driving Range/Hitting Bays/Shots in the Night experience with Top Tracer Technology or similar. • Establish data Capture processes for IWGR.

GOAL #2 – Develop and Retain Our Associates
• Develop staff training program to attract to quality talent • Establish employee centric recognition events to happen strategically throughout the year. • Enhance employee expectations through breakroom renovation GOAL #3 – Delight and Retain Our Customers
• Develop fan base for IWGR
• Ensure a refined refreshed and re-energized environment • Customers will enter an innovative and fun environment GOAL #4 – Grow Our Customer Base
• Increase Hotel Package Bookings through Golf Experiences by 10% YOY • Build awareness of IWGR through PR campaign.
• Increase Troon Card Signups to be on the leader list.

GOAL #5 – Hit The Numbers
• Continue to drive ADR
• Refresh “Shots in the Night” and increase group and leisure revenues. • Increase F&B special events and large parties
• Impact remaining business which is not OTB.

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Indian Wells Golf Resort Business Plan 2021-2022

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1.4 Sales & Marketing Strategy

Strategic Direction

In 2022/2023, Indian Wells Golf Resort is focused on generating incremental rounds and revenue from our targeted key segments. We are managing and growing business by attracting the right tournaments and high end food and beverage events from our On-Campus Hotel Partners, Residents of Indian Wells, Long and Short-term Coachella Valley Residents and from visitors from key feeder markets. IWGR will qualify golf tournaments and events to ensure quality of booking and not displacing full rate daily fee golfers. Key demographics for IWGR are On Campus Hotel Group & Leisure & Short & Long Term Coachella Valley Visitors that do not stay on property. These individuals represent the highest yielding visitors to our property.

Key Objectives

1. Generate $18,500,000.00 in total revenue.

2. Generate 74,723 rounds of golf.

3. Generate 13,690 group rounds.

4. Generate $1,765,000.00 million group golf revenue.

5. Generate $2,000,000.00 in banquet revenue.

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Indian Wells Golf Resort Business Plan 2021-2022

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OBJECTIVES ACTIONS AND DELIVERABLES TEAM/DUE
DATE Q1 Review Q2 Review Q3 Review Q4 Review
Develop a process and structure
of the IWGR Golf Academy
• Identify key staff to operate school
schedule
• Perform SWOT analysis for IWGR Golf
School
• Create structure and process
Summer
Revisit & Re-energize SITN.

Aspirations through a new
sales leader and revitalized
technology.
• Identify timeline for Range Enhancement
• Identify Design for structure enhancement
• Identify costs for total enhancement
Summer
Via our PR begin the process to
promote and encourage new
business.
• Build legacy wall to show IWGR’s
accomplishments and accolades at the front
entrance
• Leverage the Troon brand to enhance 36th
anniversary promotions
• Promote the 36th Anniversary of IWGR to
leverage our brand and reputation and tell our
story to the world.

All Departments
July 1, 2022

2. 2021/2022 GOALS & OBJECTIVES, ACTIONS & DELIVERABLES

2.1 Goal #1 – Leverage Distinct Competitive Advantage

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Indian Wells Golf Resort Business Plan 2021-2022

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OBJECTIVES ACTIONS AND DELIVERABLES TEAM/DUE
DATE Q1 Review Q2 Review Q3 Review Q4 Review
Improve employee touch
points
• Employee bathrooms and breakrooms
refresh
• Establish employee of the Month/Year
programs
Executive Team
ongoing

Summer 2022 will be the
Summer of learning and
growth, enabling employees
to explore opportunities and
refine skills.
• Develop training program to reinforce
technical skills, address soft skills
• Promote learning and refinement
Executive Team
Summer 2022

Executive team to dedicate
specific time to spend with line
staff throughout IWGR.
• Executive team to make it a point to
interact with various staff throughout
the day. Interactions to be social in
nature to build relationships between
management and staff.

Executive Team
ongoing

2.2 Goal #2 – Develop & Retain Our Associates

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Indian Wells Golf Resort Business Plan 2021-2022

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OBJECTIVES ACTIONS AND DELIVERABLES TEAM/DUE
DATE Q1 Review Q2 Review Q3 Review Q4 Review
Attract residents, resort
guests, golfers and groups to
Vue restaurant.
• Showcase Wine dinners
photography and guest reviews in
the Club, on website and app.
• Ensure prompt posting to Social
media and selling partners.

Ongoing
2022/2023

Identify VIP guests • Create system alert for Troon card holders
• Define VIP guest
July 2022
Recognize repeat F&B
business and become the
preferred dining destination in
Coachella Valley
• Implement training and system to
know and notify when repeat F&B
groups and individual make
reservations and or inquiries
• Attend and Compete in local Taste of
events
August 2022

2.3 Goal #3 – Delight and Retain Our Customers

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Indian Wells Golf Resort Business Plan 2021-2022

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OBJECTIVES ACTIONS AND DELIVERABLES TEAM/DUE
DATE Q1 Review Q2 Review Q3 Review Q4 Review
Leverage PR company
(Buffalo Group) to attract new
demographic to IWGR
• By working with PR we will ensure
pointed and specific messaging to
various demographics and communities
that we want at IWGR.
• PR campaign to focus on elevated
service and higher-end product.

Ongoing
DOSM

Increase on-line reviews • Team members will remind golfers about the survey ask for an online review after
each positive experience.
• Positive reviews will lead to better search
results and more click through.

F&B Team
&
Golf Team

Summer
2022

Monitor and ensure Troon
rewards and
Troon card activity
• Golf shop team will ensure that each
troon rewards member is identified and
point are provided at time of visit.
• Golf shot team will identify Troon card
holders through reservations system(s)
and ensure a VIP welcome during check
in.
• Team will inform regarding the survey
and ask for online review at each
positive interaction.

Golf Shop Team
ongoing

2.4 Goal #4 – Grow Our Customer Base

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Indian Wells Golf Resort Business Plan 2021-2022

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OBJECTIVES ACTIONS AND DELIVERABLES TEAM/DUE
DATE Q1 Review Q2 Review Q3 Review Q4 Review
Qualify Golf Tournament ADR • Golf sales person will work with DOSM on every tournament moving
forward to qualify event and ensure
ADR growth and quality.

DOSM
Ongoing

Revamp SITN • Develop new strategy with new event
sales person for SITN 2.0
• Prepare for SITN 2.0
• First meeting is on 4/28/22 followed
by a recap.

DOSM
Event sales
manager

Ongoing

Vue Restaurant • Continuation of Wine dinners and food
festivals to drive awareness of
refreshed product and high end service
• Seek more awareness building
opportunities
Director F&B
DOSM
GM

Ongoing

Food & Beverage • Maintain fresh and relevant menus
• Meet bi-weekly to discuss competitors
menu’s and changes
• Menu changes to be implemented on time
in conjunction with F&B team tasting.

Director F&B
DOSM
GM

Ongoing

Refresh retail • Utilize summer months to refresh retail store.
• Continue to partner with fresh/in-
demand brands driving our wanted
demographic.

Director of Retail
DOSM

Summer 2022

2.5 Goal #5 – Hit The Numbers

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Indian Wells Golf Resort Business Plan 2021-2022

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3.2 Strategies
On Campus Hotel Group & Leisure

STRATEGIES

1. Engage and connect with definite resort groups when possible to inquire about their leisure and group golf needs. • Group sales manager will contact all incoming definite groups at earliest possible opportunity in advance of stay to offer services provided • Establish program with on campus hotels for Troon/IWGR presence in all hotel rooms. • IWGR becomes tope of mind and top of list as part of the conversation for all hotel site visits and FAM trips.

2. Proactively sell catering & events, merchandise, and on course events to hotel golf groups to increase group spend. • Offer booking incentives for definite group F&B and merchandise spend at time of contracting groups.

3. Increase hotel room nights by recognizing the right group offers which we can send through golf experiences. • We will leverage our relationships with a focused campaign to target groups packaging golf and lodging. • Focus on feeder and drive in markets like SD, LA, OC and Northwest.

4. Leverage Troon Golf’s reach and programs to increase both exposure and traffic to IWGR. • Using Troon Golfs database with regionally targeted email blasts to promote Indian Wells Campus Stay and Play packages.

5. Connect with City of Indian Wells, build relationships and offer resident centric golf/F&B events to ensure that residents feel Included and utilize IWGR for dining and events as well as golf.

3.1 Target Segments

1. On Campus Hotel Group & Leisure

2. Short & Long Term Coachella Valley Visitors

3. Indian Wells Residents

4. Wholesalers

3. 2022/2023 SALES & MARKETING STRATEGY

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Indian Wells Golf Resort Business Plan 2021-2022

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Deliverables:

STRATEGY OWNER COST TIMING MEASURABLE STATUS & NOTES

1. Troon Presence in
campus hotel rooms and
ease of booking golf
rounds and F&B.

Group sales
team
None Ongoing DOSM works with campus
hotels to have Troon/IWGR
materials in all guest rooms.

Look into technology to allow
direct booking by hotel guests
into IWGR.

2. Increase Ancillary
Group Spend
Group Sales
Team
None Ongoing Tracked through CRM Software

3. Increase TOT Group Sales
Team
None Ongoing Tracked through CRM Software

4. Troon Database DOSM None Ongoing Quarterly E-blast metrics

5. Golf Experiences DOSM NONE Ongoing 3rd Party Wholesaler Tracking

3.3 Strategies

Short & Long Term Coachella Valley Visitors

STRATEGIES

1. Refresh and rethink current advertising program
• Work with PR on best possible positioning of IWGR advertising to reach new demographic and retain current demographic.

2. Property Email Marketing Campaign
• Consistent Branding with property special events, offerings and newsletter information to keep our fan base up to date on our activities.

3. Target longer stay guests with Troon Card and Troon Rewards to drive frequency and loyalty.

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Indian Wells Golf Resort Business Plan 2021-2022

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DELIVERABLES

STRATEGY OWNER COST TIMING MEASURABLE STATUS & NOTES

1. PR Campaign DOSM Budgeted PR
and
Advertising
spend.

Ongoing Increase overall IWGR business
and traffic

2. Email Marketing DOSM None Ongoing Track response & open rate

3. Troon Card-Troon
Rewards DOSM None Ongoing Create Incentives to move
IWGR golf players to Troon
Programs.

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Indian Wells Golf Resort Business Plan 2022-2023

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3.4 Marketing and Public Relations

STRATEGIES

1. Building relationships by Contacting Key Business Segments  Sales team will contact key segments in local and key feeder markets to build new relationships and ask for business.

2. Sales Missions
 Identify and participate in the right golf and wedding shows to showcase IWGR brand and build awareness of elevated overall product

3. Palm Springs CVB & Local Chamber Memberships
 Regularly attend CVB and qualified chamber events to build brand awareness and develop local business-to-business partnerships and opportunities.

4. Golf Media Events and Familiarization Tours
 With our PR team; Host Golf Media Raters and Writers from national and international publications to build brand awareness and further our marketing objectives.

5. Local Radio Show Sports Radio Promotion
 Continue segment on Local Radio Show – Pure Sports – on Team 1010. Director of Golf Joe Williams speaks weekly with the show host about golf tips, and property promotions and events.

DELIVERABLES

STRATEGY OWNER COST TIMING MEASURABLE STATUS & NOTES

1. Building
Relationships
Sales team Cost TBD
Business
Segment Lists
Ongoing Lead and relationship generation
for both golf and banquet Events

2. Sales Missions DOSM $15,000 Ongoing Group Leads, increased rack rate play and impactful
relationships.

3. CVB/Chamber
Memberships
DOSM $2,000 ongoing Relationship driven lead generation

4. Local Radio Show
Promotions Joe Williams $500 monthly October -
April
Director of Golf delivers tip of the
week and property highlights

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Indian Wells Golf Resort Business Plan 2022-2023

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3.5 Troon Programs

STRATEGIES

1. Troon Rewards

2. Troon Advantage

3. Team Troon

4. Troon Golf Database

5. Troon Card

6. Troon Junior Club

7. Troon Values Your Time

8. Troon FIT
Troon Player Development Month

DELIVERABLES

STRATEGY OWNER TIMING MEASURABLE STATUS & NOTES

1. Troon Rewards Golf Team & F&B
team
Ongoing Ensure troon rewards
guests and residents
are identified and
rewards are assigned
same day as they utilize
IWGR.

Track F&B spend for
Troon rewards
members.

2. Troon Advantage Golf Team Ongoing Promote prepaid rounds to Troon Prive Members

3. Troon Connect Sales Team Ongoing Build relationships with Classic Club and
Westin Mission Hills.

Refer in brand
whenever possible and
get reciprocal
business. Out of
region and state as
well.

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Indian Wells Golf Resort Business Plan 2022-2023

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4. Troon Golf Database DOSM Quarterly Send Quarterly stay and play offers to Troon Database.

5. Troon Card Golf Team Ongoing Create excitement around Troon card in the Golf and
retail areas to sell Troon
cards.

6. Troon Junior Club Golf Team Ongoing Promote Troon Junior Club to prospective Juniors

7. Troon Values Your Time Joe Williams &
Tom Burley
Ongoing -Continue to use Visage
to monitor pace of play

8. Troon FIT Golf Team/DOSM Ongoing Create Troon Fit/IWGR program highlighting
health benefits and
encouraging
lessons/Academy.

9. Troon Player Development
Month Golf Team Ongoing Highlight Weekly clinics and
lesson specials

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Indian Wells Golf Resort Business Plan 2022-2023

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4. 2020/2021 BUDGET & DEPARTMENT SPECIFIC PLAN

See attached the 2021/2022 Budget Model.

Additional departmental plans are developed in creating the overall Business Plan for Indian Wells Golf Resort. The highlights of these departmental plans are included throughout the 2021/2022 Goals & Objective in the Business Plan, but the full detail of each individual plan is not included. If further detail of these departmental plans is needed they are filed on property.

The following department specific plans may include:

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Indian Wells Golf Resort Business Plan 2022-2023

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Sven
Wiedenhaupt
General Manager
Joe Williams
Director of Golf
Michael Navarro
Director of F & B
Jonas Conlan
Dir of Agronomy
Ben Rodny
Dir of
Sales/Marketing
Danette Perrotta
Dir of Finance
Nona Howard
HR Manager
George Edwards
Engineering
Golf & Retail
Valet, & Course
F & B, Banquet,
Kitchen &
Greenskeepers
and Irrigators
Golf & Event
Sales &
Accounting Maintenace
Engineers

5. STAFFING ORGANIZATIONAL CHARTS

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Indian Wells City CouncilAugust 3, 2022

Indian Wells City Council
August 3, 2022