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12 June 2007 SilverRock Resort - Monthly Financial Statement Monthly Financial Statements July 2006 –June 2007 TABLE OF CONTENTS Summary Operating Income Expense 1 Statement of Fee Revenue 2 Golf Shop Income Statement 3 Course Maintenance Expense Statement 4 Outside Service Expense Statement 6 Clubhouse Expense Statement 7 Marketing Expense Statement 8 General & Administrative Expense Statement 9 Operating Leases & Miscellaneous Expense Statement 10 Complimentary Report 11 Account Description JuneFinal Budget Variance Percentages Unfavorable (-) Favorable (+) Final Budget Variance Annual Budget Unemcumb. % Bdgt Income400000 Golf Green Fee Revenue 140,966.75 169,140.00 (28,173.25) -16.7% 3,120,995.82 2,985,872.00 135,123.82 2,985,870.00 (135,125.82) 105%401000 Miscellaneous Golf Revenue 3,204.00 2,520.00 684.00 27.1% 104,561.87 61,183.00 43,378.87 62,181.00 (42,380.87) 168%410000 Revenue-Golf Shop 15,930.68 16,800.00 (869.32) -5.2% 305,641.57 311,250.00 (5,608.43) 311,248.00 5,606.43 98%420000 Revenue-F&B Concession 500.00 500.00 - 0.0% 12,000.00 12,000.00 - 12,000.00 - 100%890000 Interest Income 36.22 - 36.22 0.0% 304.54 - 304.54 - (304.54) Total Income 160,637.65 188,960.00 (28,322.35) -15.0% 3,543,503.80 3,370,305.00 173,198.80 3,371,299.00 (172,204.80) 105%Cost of Goods Sold510000 COS-Golf Shop 8,887.56 9,744.00 (856.44) 8.8% 158,821.30 180,525.00 21,703.70 180,513.00 21,691.70 88%Total COS 8,887.56 9,744.00 (856.44) 8.8% 158,821.30 180,525.00 21,703.70 180,513.00 21,691.70 88%Gross Profit 151,750.09 179,216.00 (27,465.91) -15.3% 3,384,682.50 3,189,780.00 194,902.50 3,190,786.00 (193,896.50) 106%610000 Golf Pro Shop 19,762.78 17,660.00 (2,102.78) -11.9% 213,904.90 211,701.00 (2,203.90) 211,697.00 (2,207.90) 101%630000 Course Maintenance 152,627.08 140,934.00 (11,693.08) -8.3% 1,778,090.04 1,739,811.00 (38,279.04) 1,739,809.00 (38,281.04) 102%640000 Outside Services 26,171.42 23,211.00 (2,960.42) -12.8% 268,784.86 291,576.00 22,791.14 291,576.00 22,791.14 92%650000 Clubhouse 14,857.22 16,768.00 1,910.78 11.4% 186,312.50 197,099.00 10,786.50 197,095.00 10,782.50 95%660000 Marketing 16,466.69 24,006.00 7,539.31 31.4% 322,062.11 341,478.00 19,415.89 341,478.00 19,415.89 94%670000 General & Administrative 23,955.14 26,002.00 2,046.86 7.9% 285,294.93 311,674.00 26,379.07 311,576.00 26,281.07 92%680000 Leases 39,326.44 39,325.00 (1.44) 0.0% 468,440.25 471,900.00 3,459.75 471,900.00 3,459.75 99%690000 Miscellaneous Other Expense 23,508.62 26,251.00 2,742.38 10.4% 184,647.01 263,022.00 78,374.99 263,021.00 78,373.99 70%Total Expenses 316,675.39 314,157.00 (2,518.39) -0.8% 3,707,536.60 3,828,261.00 120,724.40 3,828,152.00 120,615.40 97%Net Income(164,925.30) (134,941.00) (29,984.30) -22.2%(322,854.10) (638,481.00) 315,626.90 (637,366.00) (314,511.90) 51%Rounds of Golf PlayedPaid Rounds Played 2,118 2,400 (282) -11.8% 40,548 39,220 1,328 39,220 (1,328) 103%Ave $ Per Paid Round Green Fee 66.56 70.48 (3.92) -5.6% 76.97 76.13 0.84 76.13 (0.84) 101%Ave $ Per Paid Round Merchandise 7.52 7.00 0.52 7.5% 7.54 7.94 (0.40) 7.94 0.40 95%Ave $ Per Paid Miscellaneous 1.51 1.05 0.46 44.1% 2.58 1.56 1.02 1.59 - 0%June 2007SilverRock ResortSummary Operating Income Statement1 Income JuneFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4000000 Revenue-Fees 140,966.75 169,140.00 (28,173.25) 3,120,995.82 2,985,872.00 135,123.82 2,985,870.00-135,125.82105%4010000 Rider Fee 350.00 - 350.00 6,668.92 - 6,668.92 0.000.000%4040000 Club Rental 475.00 720.00 (245.00) 20,060.00 11,767.00 8,293.00 11,766.00-8,294.00170%4050000 Driving Range 2,244.00 1,800.00 444.00 47,528.00 29,416.00 18,112.00 29,415.00-18,113.00162%4060000 Handicap Fees 135.00 - 135.00 5,810.00 8,000.00 (2,190.00) 8,000.00 2,190.0073%4080000 GPS Advertising - - - 14,600.00 8,000.00 6,600.00 9,000.00 -5,600.00162%4090000 Ball Retriever/Subcontract - - - 2,494.95 4,000.00 (1,505.05) 4,000.00 4,000.00 0%4091000 Golf Professional Rental Fee - - - 7,400.00 - 7,400.00 - - 0% Total Revenue Fees 144,170.75 171,660.00 (27,489.25) 3,225,557.69 3,047,055.00 178,502.69 3,048,051.00 (160,942.82) 105%Total Income144,170.75 171,660.00 (27,489.25) 3,225,557.69 3,047,055.00 178,502.69 3,048,051.00 (160,942.82) 105%SilverRock ResortStatement of Fees RevenueJune 2007Month to Date Year to Date Annual Budget2 Income JuneFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4100000 Sales Miscellaneous 185.46 - 185.46 18,490.37 - 18,490.37 4100110 Sales Hard Goods 6,426.96 5,880.00 546.96 98,832.54 108,938.00 (10,105.46) 108,937.00 10,104.46 91%4100112 Sales-Soft Goods 12,315.39 10,920.00 1,395.39 215,015.43 202,312.00 12,703.43 202,311.00 (12,704.43) 106%5100639 GS-Discounts-Mdse (2,997.13) - (2,997.13) (26,696.77) - (26,696.77) (9,353.00) 17,343.77 -285% Total Revenue Golf Shop 15,930.68 16,800.00 (869.32) 305,641.57 311,250.00 (5,608.43) 301,895.00 14,743.80 95%COS 5100150 COS-GS-Hard Goods 3,064.34 3,410.40 (346.06) 54,852.34 63,184.04 (8,331.70) 63,183.46 8,331.12 87%5100151 COS-GS-Soft Goods 5,823.22 6,333.60 (510.38) 103,968.96 117,340.96 (13,372.00) 107,977.38 4,008.42 96%Cost of Sales - Golf Shop 8,887.56 9,744.00 (856.44) 158,821.30 180,525.00 (21,703.70) 171,160.84 12,339.54 93%Gross Profit 7,043.12 7,056.00 (12.88) 146,820.27 130,725.00 16,095.27 130,734.16 2,404.26 98%COS % 55.8% 58.0% 2.2% 52.0% 58.0% 6.0% 61.0% 83.7% -37%Expense61-PS-SALARIES & BENEFITS6101175 Employee Meals 300.00 300.00 - 3,931.44 3,960.00 (28.56) 3,960.00 28.56 99%6101320 Insurance Group 2,545.25 3,000.00 (454.75) 33,073.15 31,320.00 1,753.15 31,320.00 (1,753.15) 106%6101325 Insurance-Workers Comp 1,124.06 1,112.00 12.06 8,336.06 13,314.00 (4,977.94) 13,313.00 4,976.94 63%6101720 Salaries 4,550.85 3,333.00 1,217.85 45,104.73 39,996.00 5,108.73 39,992.00 (5,112.73) 113%6101800 Taxes-Employer Payroll 1,430.76 1,384.00 46.76 14,816.04 16,574.00 (1,757.96) 16,575.00 1,758.96 89%6101880 Wages-Hourly 7,790.76 7,786.00 4.76 82,516.77 93,137.00 (10,620.23) 93,138.00 10,621.23 89%6101882 Wages-Overtime 102.41 - 102.41 1,689.25 - 1,689.25 - 952.88 0%Total -PS-SALARIES & BENEFITS 17,844.09 16,915.00 929.09 189,467.44 198,301.00 (8,833.56) 198,298.00 11,472.69 94%61-PS-SUPPLIES & MATERIALS6103742 Supplies-Expendable 230.16 - 230.16 1,260.06 - 1,260.06 - (1,260.06) 0%Total PS-SUPPLIES & MATERIALS 230.16 - 230.16 1,260.06 - 1,260.06 - (1,260.06) 0%61-PS OTHER EXPENSES6103762 Supplies-Office 455.46 45.00 410.46 2,851.37 1,525.00 1,326.37 1,525.00 (1,326.37) 187%6109090 Contract Services 1,000.00 500.00 500.00 5,500.00 6,000.00 (500.00) 6,000.00 500.00 92%6109197 Equipment Rental - - - 1,593.00 - 1,593.00 - (1,593.00) 0%6109220 Freight & Delivery 51.28 - 51.28 1,498.34 75.00 1,423.34 75.00 (1,423.34) 1998%6109490 Miscellaneous - 50.00 (50.00) 1,488.49 450.00 1,038.49 450.00 (1,038.49) 331%6109150 Dues and Subscriptions - - - 1,014.87 1,500.00 (485.13) 1,500.00 485.13 68%6109500 ProShop-Over/Short 15.91 - 15.91 160.67 - 160.67 - (160.67) 0%6109722 Seminars/Training - 35.00 (35.00) 5,420.00 1,960.00 3,460.00 1,960.00 (3,460.00) 277%6109810 Travel - Merchandise - 15.00 (15.00) 44.62 90.00 (45.38) 90.00 45.38 50%6109820 Uniforms 62.25 100.00 (37.75) 2,472.41 1,800.00 672.41 1,800.00 (672.41) 137%6117840 Telephones 103.63 - 103.63 1,133.63 - 1,133.63 - (1,133.63) 0%6119206 License and Permits - - - - - - - - 0%Total PS-OTHER EXPENSES 1,688.53 745.00 943.53 23,177.40 13,400.00 9,777.40 13,400.00 (9,777.40) 173%Total Expenses 19,762.78 17,660.00 2,102.78 213,904.90 211,701.00 2,203.90 211,698.00 1,695.29 99%Net Income(12,719.66) (10,604.00) (2,115.66) (67,084.63) (80,976.00) 13,891.37 (80,963.84) 708.97 -101%Month to Date Year to Date Annual BudgetSilverRock ResortGolf Shop Income StatementJune 20073 JuneFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense63-CM-SALARIES & BENEFITS6311175 Employee Meals 240.00 240.00 - 2,880.00 2,880.00 - 2,880.00 - 0.0%6311320 Insurance-Group 13,848.25 5,880.00 7,968.25 137,208.97 70,560.00 66,648.97 70,560.00 (66,648.97) -94.5%6311325 Insurance-Workers Comp 5,727.07 6,174.00 (446.93) 56,420.35 70,971.00 (14,550.65) 70,971.00 14,550.65 20.5%6311720 Salaries 11,900.00 11,750.00 150.00 135,207.84 140,984.00 (5,776.16) 141,000.00 5,792.16 4.1%6311800 Taxes-Employer Payroll 6,901.55 7,804.00 (902.45) 70,902.28 89,010.00 (18,107.72) 89,006.00 18,103.72 20.3%6311880 Wages-Hourly 43,550.80 48,114.00 (4,563.20) 555,040.86 558,246.00 (3,205.14) 558,230.00 3,189.14 0.6%6311882 Wages-Overtime 1,819.81 2,820.00 (1,000.19) 32,772.02 15,679.00 17,093.02 15,679.00 (17,093.02) -109.0%Total-CM-SALARIES & BENEFITS83,987.48 82,782.00 1,205.48 990,432.32 948,330.00 42,102.32 948,326.00 (42,106.32) -4.4%63-CM-SUPPLIES & MATERIALS6313734 Chemicals 1,575.45 - 1,575.45 28,848.65 - 28,848.65 (28,848.65) 0.0%6313744 Fertilizer 8,397.17 4,850.00 3,547.17 94,119.36 54,650.00 39,469.36 54,650.00 (39,469.36) -72.2%6313746 Flowers/Plants - - - 3,394.04 3,500.00 (105.96) 3,500.00 105.96 3.0%6313748 Fuel-Gasoline 6,728.35 2,500.00 4,228.35 45,611.83 40,900.00 4,711.83 40,900.00 (4,711.83) -11.5%6313750 Golf Course Accessories 985.22 100.00 885.22 10,901.93 4,200.00 6,701.93 4,200.00 (6,701.93) -159.6%6313756 POA Control - - - 1,093.36 6,000.00 (4,906.64) 6,000.00 4,906.64 81.8%6313758 Miscellaneous Supp 98.45 100.00 (1.55) 5,345.22 1,200.00 4,145.22 1,200.00 (4,145.22) -345.4%6313766 Pesticides 791.81 400.00 391.81 16,946.68 14,900.00 2,046.68 14,900.00 (2,046.68) -13.7%6313762 Supplies-Office - - - 1,434.48 - 1,434.48 - (1,434.48) 0.0%6313774 Sand - 100.00 (100.00) 7,839.24 6,660.00 1,179.24 16,660.00 8,820.76 52.9%6313775 Sand-Bunkers - - - 8,240.39 10,000.00 (1,759.61) 10,000.00 1,759.61 17.6%6313776 Seed - 350.00 (350.00) 104,076.29 84,750.00 19,326.29 84,750.00 (19,326.29) -22.8%6313778 Small Tools & Non-Capital Equip 200.41 100.00 100.41 3,104.92 6,500.00 (3,395.08) 6,500.00 3,395.08 52.2%6313780 Sod 597.37 1,000.00 (402.63) 5,022.49 5,750.00 (727.51) 5,750.00 727.51 12.7%6313782 Topdressing 4,536.83 1,300.00 3,236.83 7,313.75 3,900.00 3,413.75 3,900.00 (3,413.75) -87.5%Total-CM-SUPPLIES & MATERIALS23,911.06 10,800.00 13,111.06 343,292.63 242,910.00 100,382.63 252,910.00 (90,382.63) -35.7%63-CM-REPAIRS & MAINTENANCE6315095 CM-R&M-Contract Lake Maint 3,359.75 1,500.00 1,859.75 10,165.97 14,000.00 (3,834.03) 14,000.00 3,834.03 27.4%6315685 CM-R&M-Bldngs & Othr Structures 114.50 - 114.50 1,658.71 500.00 1,158.71 500.00 (1,158.71) -231.7%6315686 CM-R&M- Drainage 2,507.06 - 2,507.06 7,590.45 - 7,590.45 - (7,590.45) 0.0%6315690 CM-R&M-Equipment 6,675.32 700.00 5,975.32 47,995.18 14,400.00 33,595.18 14,400.00 (33,595.18) -233.3%6315692 CM-R&M-Irrigation System 643.51 550.00 93.51 16,253.78 8,450.00 7,803.78 8,450.00 (7,803.78) -92.4%6315696 CM-R&M-Pumps - - - 6,904.82 5,000.00 1,904.82 5,000.00 (1,904.82) -38.1%6315815 CM-R&M-Trees-Pruning Etc - - - 3,826.20 4,000.00 (173.80) 4,000.00 173.80 4.3%Total-CM-REPAIRS & MAINTENANCE 13,300.14 2,750.00 10,550.14 94,395.11 46,350.00 48,045.11 46,350.00 (48,045.11) -103.7%63-CM-UTILTIES6317830 Utilities-Electricity-Bldngs - 2,360.00 (2,360.00) 17,885.16 22,080.00 (4,194.84) 22,080.00 4,194.84 19.0%6317836 Utilities-Natural Gas/LPG - - - 257.02 - 257.02 - (257.02) 0.0%6317840 Telephones 851.60 350.00 501.60 9,939.39 4,200.00 5,739.39 4,200.00 (5,739.39) -136.7%Total-CM-UTILITIES 851.60 2,710.00 (1,858.40) 28,081.57 26,280.00 1,801.57 26,280.00 (1,801.57) -6.9%63-CM-OTHER EXPENSES6319020 Auto Mileage/Allowance 500.00 500.00 - 6,000.00 6,000.00 - 6,000.00 - 0.0%6319099 Contract Svcs-Security 210.00 - 210.00 490.00 - 490.00 - (490.00) 0.0%6319100 Contract Svcs-Soil/Tissue Test - - - 38.76 4,000.00 (3,961.24) 4,000.00 3,961.24 99.0%6319101 Contract Svcs-Trash Removal 2,073.31 400.00 1,673.31 18,897.61 4,800.00 14,097.61 18,800.00 (97.61) -0.5%6319102 Greens-Waste Removal - 300.00 (300.00) 10,714.52 14,000.00 (3,285.48) 14,000.00 3,285.48 23.5%6319150 Dues & Subscriptions - 100.00 (100.00) 458.00 900.00 (442.00) 900.00 442.00 49.1%6319170 Employee Education - 50.00 (50.00) 500.00 600.00 (100.00) 600.00 100.00 16.7%6319197 Equipment Rental 3,251.73 100.00 3,151.73 4,615.88 4,200.00 415.88 4,200.00 (415.88) -9.9%6319206 Licenses & Permits - - - 2,513.01 1,800.00 713.01 1,800.00 (713.01) -39.6%6319490 Miscellaneous 114.96 100.00 14.96 2,170.57 1,200.00 970.57 1,200.00 (970.57) -80.9%6319500 Propane/Natural Gas - 150.00 (150.00) - 1,800.00 (1,800.00) 1,800.00 1,800.00 100.0%6319718 Safety Equipment & Training 134.90 100.00 34.90 6,351.79 3,400.00 2,951.79 3,400.00 (2,951.79) -86.8%6319822 Uniforms 625.50 720.00 (94.50) 8,119.79 9,390.00 (1,270.21) 9,390.00 1,270.21 13.5%Total-CM-OTHER EXPENSES 6,910.40 2,520.00 4,390.40 60,869.93 52,090.00 8,779.93 66,090.00 5,220.07 7.9%Month to Date Year to DateSilverRock ResortCourse Maintenance Expense StatementJune 2007Annual Budget4 JuneFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget632-CM-LANDSCAPE MAINTENANCE632-CM-LM-SALARIES & BENEFITS6321320 Insurance-Group 1,140.00 1,104.00 36.00 14,236.63 13,248.00 988.63 13,248.00 (988.63) 0.0%6321325 Insurance-Workers Comp 1,005.80 1,375.00 (369.20) 9,048.25 16,194.00 (7,145.75) 16,194.00 7,145.75 44.1%6321800 Taxes-Employer Payroll 705.59 1,749.00 (1,043.41) 11,004.05 20,424.00 (9,419.95) 20,426.00 9,421.95 46.1%6321880 Wages-Hourly 10,341.75 13,141.00 (2,799.25) 120,871.59 157,692.00 (36,820.41) 157,692.00 36,820.41 23.3%6321882 Wages-Overtime 781.52 910.00 (128.48) 5,989.61 6,370.00 (380.39) 6,370.00 380.39 6.0%Total-CM-LM-SALARIES & BENEFITS13,974.66 18,279.00 (4,304.34) 161,150.13 213,928.00 (52,777.87) 213,930.00 53,768.50 25.1%632-CM-LM-SUPPLIES & MATERIALS6323778 Small Tools - 75.00 (75.00) 5,258.12 1,025.00 4,233.12 1,025.00 (4,233.12) -413.0%6323788 Uniforms 208.53 240.00 (31.47) 3,940.04 2,880.00 1,060.04 2,880.00 (1,060.04) -36.8%Total-CM-LM-SUPPLIES & MATERIALS208.53 315.00 (106.47) 9,198.16 3,905.00 5,293.16 3,905.00 (5,293.16) -135.5%632-CM-LM-REPAIRS & MAINTENANCE6325687 CM-LM-R&M-Drip Irrigation 877.81 500.00 377.81 4,524.43 4,250.00 274.43 4,250.00 (274.43) -6.5%Total-CM-LM-REPAIRS & MAINTENANCE 877.81 500.00 377.81 4,524.43 4,250.00 274.43 4,250.00 (274.43) -6.5%632-CM-WATER & ENERGY6337834 Utilities-Electricity-Pumping 6,349.27 18,464.00 (12,114.73) 70,329.17 183,642.00 (113,312.83) 183,642.00 113,312.83 61.7%6337842 Utilities-Water2,256.13 1,814.00 442.13 15,816.59 18,126.00 (2,309.41) 18,126.00 2,309.41 12.7%Total-CM-WATER & ENERGY8,605.40 20,278.00 (11,672.60) 86,145.76 201,768.00 (115,622.24) 201,768.00 115,622.24 57.3%152,627.08 140,934.00 11,693.08 1,778,090.04 1,739,811.00 38,279.04 1,763,809.00 (13,292.41) -0.8%Silverrock ResortCourse Maintenance Expense StatementJune 2007Annual BudgetTotal -COURSE MAINTENANCEMonth to Date Year to Date5 JuneFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense641-CBR-SALARIES & BENEFITS6411175 Employee Meals 480.00 480.00 - 6,120.00 6,240.00 (120.00) 6,240.00 120.00 1.9%6411320 Insurance-Group 58.77 720.00 (661.23) 5,355.11 8,640.00 (3,284.89) 8,640.00 3,284.89 38.0%6411325 Insurance-Workers Comp 1,163.00 1,443.00 (280.00) 7,897.14 16,941.00 (9,043.86) 16,944.00 9,046.86 53.4%6411800 Taxes-Employer Payroll 1,420.68 1,251.00 169.68 12,885.45 14,690.00 (1,804.55) 14,690.00 1,804.55 12.3%6411880 Wages-Hourly 11,421.69 10,047.00 1,374.69 103,159.01 117,992.00 (14,832.99) 117,992.00 14,832.99 12.6%6411882 Wages-Overtime 212.19 - 212.19 1,814.99 - 1,814.99 - (1,814.99) 0.0%Total-CBR-SALARIES & BENEFITS14,756.33 13,941.00 815.33 137,231.70 164,503.00 (27,271.30) 164,506.00 27,274.30 16.6%641-CBR-SUPPLIES & MATERIALS6413732 Supplies-Carts - 50.00 (50.00) 2,389.32 2,350.00 39.32 2,350.00 (39.32) -1.7%6413742 Supplies-Expendable 576.20 500.00 76.20 7,959.65 7,550.00 409.65 7,550.00 (409.65) -5.4%6413752 Supplies-Range Balls - - - 5,250.00 6,000.00 (750.00) 6,000.00 750.00 12.5%6413762 Supplies-Office 236.16 50.00 186.16 1,253.53 525.00 728.53 525.00 (728.53) -138.8%6413768 Supplies-Printing and Stationary - 70.00 (70.00) 95.60 420.00 (324.40) 420.00 324.40 77.2%6413786 Supplies-Towels 1,124.05 72.00 1,052.05 8,308.17 2,292.00 6,016.17 2,292.00 (6,016.17) -262.5%6413796 Supplies-Bottled Water2,202.68 2,009.00 193.68 26,152.23 22,631.00 3,521.23 22,631.00 (3,521.23) -15.6%Total-CBR-SUPPLIES & MATERIALS4,139.09 2,751.00 1,388.09 51,408.50 41,768.00 9,640.50 41,768.00 (9,640.50) -23.1%641-CBR-REPAIRS & MAINTENANCE6415096 CBR-R&M-Contract Services-Carts 720.00 720.00 - 8,640.00 8,640.00 - 8,640.00 - 0.0%6415690 CBR-R&M-Equipment 1,079.07 125.00 954.07 8,168.43 1,500.00 6,668.43 1,500.00 (6,668.43) -444.6%6415695 CBR-R&M-Cart Maintenance & Repair - 250.00 (250.00) 2,845.82 3,000.00 (154.18) 3,000.00 154.18 5.1%Total-CBR-REPAIRS & MAINTENANCE 1,799.07 1,095.00 704.07 19,654.25 13,140.00 6,514.25 13,140.00 (6,514.25) -49.6%641-CBR-OTHER EXPENSES6419093 Contract Services-Handicaps 270.00 200.00 70.00 3,213.00 5,000.00 (1,787.00) 5,000.00 1,787.00 35.7%6419094 Contract Services-Laundry/Linen 198.09 75.00 123.09 552.65 1,690.00 (1,137.35) 1,690.00 1,137.35 67.3%6419220 Freight/Delivery - 75.00 (75.00) 122.17 900.00 (777.83) 900.00 777.83 86.4%6419490 Miscellaneous 342.92 125.00 217.92 563.97 1,150.00 (586.03) 1,150.00 586.03 51.0%6419820 Uniforms 30.23 200.00 (169.77) 4,552.74 4,625.00 (72.26) 4,625.00 72.26 1.6%Total-CBR-OTHER EXPENSES 841.24 675.00 166.24 9,004.53 13,365.00 (4,360.47) 13,365.00 4,360.47 32.6%TOTAL-CARTS,BAGROOM & RANGE 21,535.73 18,462.00 3,073.73 217,298.98 232,776.00 (15,477.02) 232,779.00 15,480.02 6.7%643-CS-SALARIES & BENEFITS6431175 Employee Meals 240.00 240.00 - 3,060.00 3,120.00 (60.00) 3,120.00 60.00 1.9%6431320 Insurance-Group - - - - - - - - 0.0%6431325 Insurance-Workers Comp 325.29 352.00 (26.71) 3,302.08 4,263.00 (960.92) 4,261.00 958.92 22.5%6431800 Taxes-Employer Payroll 495.40 438.00 57.40 4,489.00 5,307.00 (818.00) 5,305.00 816.00 15.4%6431880 Wages-Hourly 3,512.01 3,519.00 (6.99) 35,610.11 42,610.00 (6,999.89) 42,611.00 7,000.89 16.4%6431882 Wages-Overtime 11.27 - 11.27 418.26 - 418.26 - (418.26) 0.0%Total-CS-SALARIES & BENEFITS4,583.97 4,549.00 34.97 46,879.45 55,300.00 (8,420.55) 55,297.00 8,417.55 15.2%643-CS-OTHER EXPENSES6433742 Supplies Expendable 51.72 75.00 (23.28) 2,584.89 1,050.00 1,534.89 1,050.00 (1,534.89) -146.2%6439490 Miscellaneous - - - - 200.00 (200.00) 200.00 200.00 100.0%6439718 Safety Equipment & Training - 50.00 (50.00) - 600.00 (600.00) 600.00 600.00 100.0%6439820 Uniforms - 75.00 (75.00) 2,021.54 1,650.00 371.54 1,650.00 (371.54) -22.5%Total-CS-OTHER EXPENSES 51.72 200.00 (148.28) 4,606.43 3,500.00 1,106.43 3,500.00 (1,106.43) -31.6%Total-COURSE SERVICES 4,635.69 4,749.00 (113.31) 51,485.88 58,800.00 (7,314.12) 58,797.00 7,311.12 12.4%TOTAL OUTSIDE SERVICES26,171.42 23,211.00 2,960.42 268,784.86 291,576.00 (22,791.14) 291,576.00 23,897.57 8.2%Month to Date Year to DateSilverRock ResortOutside Services Expense StatementJune 2007Annual Budget6 JuneFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense65-CH-SUPPLIES & MATERIALS6503742 Supplies-Expendable80.27 400.00 (319.73) 5,287.58 4,800.00 487.58 4,800.00 (487.58) -10.2%Total-CH-SUPPLIES & MATERIALS 80.27 400.00 (319.73) 5,287.58 4,800.00 487.58 4,800.00 (487.58) -10.2%65-CH-UTILITIES6507830 Utilities-Electric-Bldgs- 4,026.00 (4,026.00) 7,375.00 42,795.00 (35,420.00) 42,795.00 35,420.00 82.8%6507836 Utilities-Natural Gas386.00 200.00 186.00 5,186.01 2,400.00 2,786.01 2,400.00 (2,786.01) -116.1%6507838 Utilities-Sewer- 200.00 (200.00) - 2,400.00 (2,400.00) 2,400.00 2,400.00 100.0%6507840 Utilities-Telephone976.98 675.00 301.98 12,643.73 8,100.00 4,543.73 8,100.00 (4,543.73) -56.1%6507842 Utilities-Water198.18 200.00 (1.82) 1,840.88 2,400.00 (559.12) 2,400.00 559.12 23.3%6507844 Utilities-Cable451.98 317.00 134.98 3,538.10 3,804.00 (265.90) 3,800.00 261.90 0.0%Total-CH-UTILITIES 2,013.14 5,618.00 (3,604.86) 30,583.72 61,899.00 (31,315.28) 61,895.00 31,311.28 50.6%65-CH-OTHER EXPENSES6509091 Contract Services-Cleaning2,135.73 1,750.00 385.73 21,103.23 21,000.00 103.23 21,000.00 (103.23) -0.5%6509098 Contract Services-Refuse Dispose681.16 400.00 281.16 6,874.94 4,800.00 2,074.94 4,800.00 (2,074.94) -43.2%6509099 Contract Services-Security8,317.76 7,800.00 517.76 104,077.84 93,600.00 10,477.84 93,600.00 (10,477.84) -11.2%6509215 Flowers & Decorations- 100.00 (100.00) 627.81 2,600.00 (1,972.19) 2,600.00 1,972.19 75.9%6509490 Miscellaneous- - - 6,232.74 - 6,232.74 - (6,232.74) 0.0%6509718 Safety Equipment & Training- 100.00 (100.00) 250.00 1,200.00 (950.00) 1,200.00 950.00 79.2%Total-CH-OTHER EXPENSES 11,134.65 10,150.00 984.65 139,166.56 123,200.00 15,966.56 123,200.00 (15,966.56) -13.0%65-CH-REPAIRS & MAINTENANCE6515685 CH-R&M-Building Structures157.25 200.00 (42.75) 3,286.17 2,400.00 886.17 2,400.00 (886.17) -36.9%6515686 CH-R&M-Restaurant Repairs- 200.00 (200.00) 280.18 2,400.00 (2,119.82) 2,400.00 2,119.82 88.3%6515690 CH-R&M-Equipment Repair1,471.91 200.00 1,271.91 7,708.29 2,400.00 5,308.29 2,400.00 (5,308.29) -221.2%Total-CH-REPAIRS & MAINTENANCE 1,629.16 600.00 1,029.16 11,274.64 7,200.00 4,074.64 7,200.00 (4,074.64) -56.6%Total CLUBHOUSE14,857.22 16,768.00 (1,910.78) 186,312.50 197,099.00 (10,786.50) 197,095.00 (8,149.28) -4.1%Month to Date Year to DateSilverRock ResortClubhouse Expense StatementJune 2007Annual Budget7 JuneFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense66-MKT-SALARIES & BENEFITS6601175 Employee Meals - 60.00 (60.00) 240.00 720.00 (480.00) 720.00 480.00 66.7%6601320 Insurance-Group - 150.00 (150.00) 306.21 1,800.00 (1,493.79) 1,800.00 1,493.79 83.0%6601325 Insurance-Workers Comp 341.60 317.00 24.60 2,389.38 3,804.00 (1,414.62) 3,800.00 1,410.62 37.1%6601720 Salaries 3,180.00 3,167.00 13.00 27,271.61 38,004.00 (10,732.39) 38,004.00 10,732.39 28.2%6601800 Taxes-Employer Payroll 318.09 394.00 (75.91) 1,948.09 4,728.00 (2,779.91) 4,731.00 2,782.91 58.8%Total-MKT-SALARIES & BENEFITS 3,839.69 4,088.00 (248.31) 32,155.29 49,056.00 (16,900.71) 49,055.00 16,899.71 34.5%66-MKT-SUPPLIES & MATERIALS6603080 Collateral Material 150.84 500.00 (349.16) 3,646.99 9,000.00 (5,353.01) - (3,646.99) 0.0%6603762 Supplies-Office 490.70 100.00 390.70 968.65 1,200.00 (231.35) 1,200.00 231.35 19.3%6603768 Supplies-Printing & Stationery - 125.00 (125.00) 593.01 4,425.00 (3,831.99) 4,425.00 3,831.99 86.6%641.54 725.00 (83.46) 5,208.65 14,625.00 (9,416.35) 5,625.00 416.35 7.4%66-MKT-UTILITIES6607840 Utilities-Telephone 65.32 100.00 (34.68) 935.16 1,200.00 (264.84) 1,200.00 264.84 22.1%Total-MKT-UTILITIES 65.32 100.00 (34.68) 935.16 1,200.00 (264.84) 1,200.00 264.84 22.1%66-MKT-OTHER EXPENSES6609010 Advertising 11,667.50 18,718.00 (7,050.50) 276,634.51 268,287.00 8,347.51 175,290.00 (101,344.51) -57.8%6609040 Business Meals 118.64 25.00 93.64 333.10 300.00 33.10 300.00 (33.10) -11.0%6609080 Collateral Material - - - 2,922.21 - 2,922.21 9,000.00 6,077.79 67.5%6609102 Contract Services-Web Page 99.00 175.00 (76.00) 1,089.00 2,100.00 (1,011.00) 2,100.00 1,011.00 48.1%6609490 Miscellaneous - - - 303.28 350.00 (46.72) 350.00 46.72 13.3%6609620 Postage - 50.00 (50.00) 362.22 600.00 (237.78) 600.00 237.78 39.6%6609630 Promotion - 50.00 (50.00) 503.44 700.00 (196.56) - (503.44) 0.0%6609633 Promotion-Community - 75.00 (75.00) 128.31 2,925.00 (2,796.69) 2,925.00 2,796.69 95.6%6609634 Promotion-Media/Vender - - - - - - 700.00 - 0.0%6609150 Dues and Subscriptions 35.00 - 35.00 1,157.00 735.00 422.00 735.00 (422.00) 0.0%6609820 Uniforms - - - 329.94 600.00 (270.06) 600.00 270.06 45.0%Total-MKT-OTHER EXPENSES 11,920.14 19,093.00 (7,172.86) 283,763.01 276,597.00 7,166.01 192,600.00 (91,863.01) -47.7%Total-MARKETING16,466.69 24,006.00 (7,539.31) 322,062.11 341,478.00 (19,415.89) 248,480.00 (74,282.11) -29.9%Month to Date Year to DateSilverRock ResortMarketing Expense StatementJune 2007Annual Budget8 JuneFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense67-G&A-SALARIES & BENEFITS6701175 Employee Meals 180.00 180.00 - 2,160.00 2,160.00 - 2,160.00 - 0.0%6701320 Insurance-Group1,544.22 2,280.00 (735.78) 19,716.97 27,360.00 (7,643.03) 27,360.00 7,643.03 27.9%6701325 Insurance-Workers Comp1,690.50 1,598.00 92.50 15,461.22 19,176.00 (3,714.78) 19,176.00 3,714.78 19.4%6701720 Salaries 14,192.87 13,250.00 942.87 158,462.17 159,000.00 (537.83) 159,000.00 537.83 0.3%6701800 Taxes-Employer Payroll 1,711.44 1,989.00 (277.56) 15,547.53 23,868.00 (8,320.47) 23,874.00 8,326.47 34.9%6701880 Wages-Hourly2,713.28 2,730.00 (16.72) 33,229.90 32,760.00 469.90 32,756.00 (473.90) -1.4%6701882 Wages-Overtime - - - 418.50 - 418.50 - (418.50) 0.0%Total-G&A-SALARIES & BENEFITS 22,032.31 22,027.00 5.31 244,996.29 264,324.00 (19,327.71) 264,326.00 19,329.71 7.3%67-G&A-SUPPLIES & MATERIALS6703740 Supplies-Computer260.56 500.00 (239.44) 3,292.84 6,000.00 (2,707.16) 6,000.00 2,707.16 45.1%6703762 Supplies-Office 144.59 125.00 19.59 1,603.11 1,500.00 103.11 1,500.00 (103.11) -6.9%6703768 Supplies-Printing & Stationery19.22 400.00 (380.78) 1,553.79 3,200.00 (1,646.21) 3,200.00 1,646.21 51.4%6703778Supplies-Small Tools/Non-Capital - 100.00 (100.00) - 1,000.00 (1,000.00) 900.00 900.00 100.0%Total-G&A-SUPPLIES & MATERIALS 424.37 1,125.00 (700.63) 6,449.74 11,700.00 (5,250.26) 11,600.00 5,150.26 44.4%67-G&A-REPAIRS & MAINTENANCE6705690 Repairs & Maintenance-Equipment- 100.00 (100.00) 1,742.50 1,200.00 542.50 1,200.00 (542.50) -45.2%Total-G&A-REPAIRS & MAINTENANCE - 100.00 (100.00) 1,742.50 1,200.00 542.50 1,200.00 (542.50) -45.2%67-G&A-OTHER EXPENSES6709020 Auto/Mileage Allowance400.00 400.00 - 4,800.00 4,800.00 - 4,800.00 - 0.0%6709090 Contract Services- - - 245.00 - 245.00 - - 0.0%6709150 Dues & Subscriptions- 50.00 (50.00) 1,187.00 1,500.00 (313.00) 1,500.00 313.00 20.9%6709180 Employee Recruiting/Relocation112.00 - 112.00 5,173.91 2,000.00 3,173.91 2,000.00 (3,173.91) -158.7%6709197 Equipment Rental236.40 350.00 (113.60) 3,949.91 4,200.00 (250.09) 4,200.00 250.09 6.0%6709202 Fees-Bank55.00 300.00 (245.00) 1,492.02 3,600.00 (2,107.98) 3,600.00 2,107.98 58.6%6709208 Fees-Payroll Processing695.06 550.00 145.06 7,556.36 6,600.00 956.36 6,600.00 (956.36) 0.0%6709220 Freight/Delivery- 50.00 (50.00) 779.10 600.00 179.10 600.00 (179.10) -29.9%6709490 Miscellaneous - 100.00 (100.00) 599.11 1,200.00 (600.89) 1,200.00 600.89 50.1%6709491 Loss/Damage- - - 113.33 - 113.33 - - 0.0%6709620 Postage/Mail Services - 75.00 (75.00) 1,191.52 900.00 291.52 900.00 (291.52) -32.4%6709625 Professional Fees- 400.00 (400.00) 3,305.00 4,800.00 (1,495.00) 4,800.00 1,495.00 31.1%6709636 Promotion/Entertainment- 100.00 (100.00) - 1,200.00 (1,200.00) 1,200.00 1,200.00 100.0%6709722 Seminars & Training- 100.00 (100.00) 925.00 900.00 25.00 900.00 (25.00) -2.8%6709810 Travel - 200.00 (200.00) 120.99 1,100.00 (979.01) 1,100.00 979.01 89.0%6709820 Uniforms - 75.00 (75.00) 668.15 1,050.00 (381.85) 1,050.00 381.85 36.4%Total-G&A-OTHER EXPENSES 1,498.46 2,750.00 (1,251.54) 32,106.40 34,450.00 (2,343.60) 34,450.00 2,701.93 7.8%Total-GENERAL & ADMINISTRATIVE23,955.14 26,002.00 (2,046.86) 285,294.93 311,674.00 (26,379.07) 311,576.00 26,639.40 8.5%Month to Date Year to DateSilverRock ResortGeneral & Administrative Expense StatementJune 2007Annual Budget9 JuneFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense68-LEASES6800192 Equipment Leases-Carts 10,643.32 9,800.00 843.32 102,618.17 117,600.00 (14,981.83) 117,600.00 14,981.83 12.7%6800193 Equipment Leases-Course Maint 17,083.15 20,000.00 (2,916.85) 224,022.49 240,000.00 (15,977.51) 240,000.00 15,977.51 6.7%6800194 Equipment Leases-Trailer 556.16 600.00 (43.84) 8,720.90 7,200.00 1,520.90 7,200.00 (1,520.90) -21.1%6800195 Equipment Leases-Software - 1,525.00 (1,525.00) 18,106.81 18,300.00 (193.19) 18,300.00 193.19 1.1%6800196 Equipment Leases-GPS 8,603.07 7,400.00 1,203.07 83,554.83 88,800.00 (5,245.17) 88,800.00 5,245.17 5.9%6800198 Equipment Leases-Others 2,440.74 - 2,440.74 31,417.05 - 31,417.05 - - 0.0%Total-LEASES39,326.44 39,325.00 1.44 468,440.25 471,900.00 (3,459.75) 471,900.00 34,876.80 7.4%69-MISC OTHER EXPENSES6900096 Contract Srvcs-Management Fee 20,555.39 18,272.00 2,283.39 72,550.62 125,197.00 (52,646.38) 125,196.00 52,645.38 42.1%6900210 FF&E Reserve 2,883.42 3,779.00 (895.58) 64,500.16 67,425.00 (2,924.84) 67,426.00 2,925.84 4.3%6900800 Personal Property Taxes 69.81 - 69.81 3,072.83 20,000.00 (16,927.17) 20,000.00 16,927.17 84.6%6900323 Insurance-Commercial - 4,200.00 (4,200.00) 44,523.40 50,400.00 (5,876.60) 50,400.00 5,876.60 11.7%Total-MISC OTHER EXPENSES23,508.62 26,251.00 (2,742.38) 184,647.01 263,022.00 (78,374.99) 263,022.00 78,374.99 29.8%Annual BudgetMonth to Date Year to Date Operating Leases & Miscellaneous Other Expense StatementJune 200710 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report‐2006‐20072006 2006 2006 2006 2006 2006Comp CategoryJulyAugustSeptemberOctoberNovemberDecemberMedia6158 01815Sales727842Promotion423000Golf Industry20 21 15 9 17 26VIP600004Celebrity000000PGA Comp27 28 60 2 16 18Charity/Gift Certificate624370 029Rain/Wind Checks0000287Club Staff20 17 44 2 22 50LQ HS Golf00030096 109 174 24 105 1512007 2007 2007 2007 2007 2007Comp CategoryJanuaryFebruaryMarchAprilMayJuneMedia31 12823 6 6Sales000400Promotion300000Golf Industry842418 25 22VIP000000Celebrity002200PGA Comp43 163640 48 58Charity/Gift Certificate68810 32 17Rain/Wind Checks983638 4 4Club Staff89 402888 96 106LQ HS Golf0 36 108 116 0 0189 124 250 339 211 21311 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report‐2006‐2007May 2007Date Time Description CategoryPlayers6/14/2007 8:22 Chris Long - CBS Media46/21/2007 7:00 Pete Fox-Morris Desert Radio Media212