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12 June 2008 SilverRock Resort - Monthly Financial Statement Monthly Financial Statements July 2007 – June 2008 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 Annual BudgetAccount Description JuneFinal Budget Variance Percentages Unfavorable (-) Favorable (+) Final Budget Variance Annual Budget Unemcumb. % Bdgt Income400000 Golf Green Fee Revenue 155,352.53 171,032.00 (15,679.47) -9.2% 3,285,295.83 3,161,211.00 124,084.83 3,161,211.00 (124,084.83) 104%401000 Miscellaneous Golf Revenue 7,310.31 3,125.00 4,185.31 133.9% 139,352.95 83,726.00 55,626.95 83,726.00 (55,626.95) 166%410000 Revenue-Golf Shop 15,951.81 17,500.00 (1,548.19) -8.8% 360,372.11 327,373.00 32,999.11 327,373.00 (32,999.11) 110%420000 Revenue-F&B Concession 500.00 500.00 - 0.0% 12,000.00 12,000.00 - 12,000.00 - 100%890000 Interest Income 13.37 - 13.37 0.0% 221.65 - 221.65 - (221.65) 0%Total Income179,128.02 192,157.00 (13,028.98) -6.8% 3,797,242.54 3,584,310.00 212,932.54 3,584,310.00 (212,932.54) 106%Cost of Goods Sold510000 COS-Golf Shop 8,076.60 9,288.00 (1,211.40) 13.0% 199,252.54 173,752.15 (25,500.39) 173,752.15 (25,500.39) 115%Total COS8,076.60 9,288.00 (1,211.40) 13.0% 199,252.54 173,752.15 (25,500.39) 173,752.15 (25,500.39) 115%Gross Profit171,051.42 182,869.00 (11,817.58) -6.5% 3,597,990.00 3,410,557.85 187,432.15 3,410,557.85 (187,432.15) 105%Expenses610000 Golf Pro Shop 26,334.64 21,361.00 (4,973.64) -23.3% 273,173.71 256,711.00 (16,462.71) 256,711.00 (16,462.71) 106%630000 Course Maintenance 153,323.37 142,284.00 (11,039.37) -7.8% 1,848,043.87 1,796,365.00 (51,678.87) 1,796,365.00 (51,678.87) 103%640000 Outside Services 31,330.56 23,793.00 (7,537.56) -31.7% 321,868.92 297,354.00 (24,514.92) 297,354.00 (24,514.92) 108%650000 Clubhouse 12,767.17 14,242.00 1,474.83 10.4% 184,264.01 172,904.00 (11,360.01) 172,904.00 (11,360.01) 107%660000 Marketing 21,634.98 10,902.00 (10,732.98) -98.4% 252,631.94 252,469.00 (162.94) 252,469.00 (162.94) 100%670000 General & Administrative 27,060.50 26,521.00 (539.50) -2.0% 303,866.82 321,602.00 17,735.18 321,602.00 17,735.18 94%680000 Leases 36,974.32 39,325.00 2,350.68 6.0% 474,283.54 471,900.00 (2,383.54) 471,900.00 (2,383.54) 101%690000 Miscellaneous Other Expense 24,742.64 27,887.00 3,144.36 11.3% 202,443.10 253,363.00 50,919.90 253,363.00 50,919.90 80%Total Expenses334,168.18 306,315.00 (27,853.18) -9.1% 3,860,575.91 3,822,668.00 (37,907.91) 3,822,668.00 (37,907.91) 101%Net Income (163,116.76) (123,446.00) (39,670.76) -32.1%(262,585.91) (412,110.15) 149,524.24 (412,110.15) (149,524.24) 64%Rounds of Golf PlayedPaid Rounds Played 2,180 2,500 (320) -12.8% 40,516 40,580 (64) 40,580 64 100%Ave $ Per Paid Round Green Fee 71.26 68.41 2.85 4.2% 81.09 77.90 3.19 77.90 (3.19) 104%Ave $ Per Paid Round Merchandise 7.32 7.00 0.32 4.5% 8.89 8.07 0.83 8.07 (0.82) 110%Ave $ Per Paid Miscellaneous 3.35 1.25 2.10 168.3% 3.44 2.06 1.38 2.06 - 0%Month to Date Year to DateJune 2008SilverRock ResortSummary Operating Income Statement1 Income JuneFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4000000 Revenue-Fees 155,352.53 171,032.00 (15,679.47) 3,285,295.83 3,161,211.00 124,084.83 3,161,211.00-124,084.83104%4010000 Rider Fee 350.00 250.00 100.00 6,275.00 4,058.00 2,217.00 4,058.00-2,217.00155%4040000 Club Rental 1,265.00 875.00 390.00 27,450.00 14,204.00 13,246.00 14,203.00-13,247.00193%4050000 Driving Range 2,334.00 2,000.00 334.00 58,284.00 32,464.00 25,820.00 32,464.00-25,820.00180%4060000 Handicap Fees 135.00 - 135.00 7,545.00 8,000.00 (455.00) 8,000.00 455.0094%4080000 GPS Advertising - - - 22,055.00 12,000.00 10,055.00 12,000.00 -10,055.00184%4090000 Ball Retriever/Subcontract - - - 3,267.64 4,000.00 (732.36) 4,000.00 732.3682%4091000 Golf Professional Rental Fee - - - 11,250.00 9,000.00 2,250.00 9,000.00 -2,250.00 125%4092000 Golf Lessons 3,226.31 - 3,226.31 3,226.31 - 3,226.31 - -3,226.310% Total Revenue Fees 162,662.84 174,157.00 (11,494.16) 3,424,648.78 3,244,937.00 179,711.78 3,244,936.00 (179,712.78) 106%Total Income 162,662.84 174,157.00 (11,494.16) 3,424,648.78 3,244,937.00 179,711.78 3,244,936.00 (179,712.78) 106%SilverRock ResortStatement of Fees RevenueJune 2008Month to Date Year to Date Annual Budget2 Income JuneFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4100000 Sales Miscellaneous 633.89 - 633.89 6,395.10 - 6,395.10 4100110 Sales Hard Goods 6,075.58 6,125.00 (49.42) 124,849.33 114,581.00 10,268.33 114,580.00 (10,269.33) 109%4100112 Sales-Soft Goods 10,854.19 11,375.00 (520.81) 265,995.59 212,792.00 53,203.59 212,791.00 (53,204.59) 125%5100639 GS-Discounts-Mdse (1,611.85) - (1,611.85) (36,867.91) - (36,867.91) - 36,867.91 0% Total Revenue Golf Shop 15,951.81 17,500.00 (1,548.19) 360,372.11 327,373.00 32,999.11 327,371.00 (26,606.01) 108%COS 5100150 COS-GS-Hard Goods 1,952.61 3,368.75 (1,416.14) 77,668.41 63,019.55 14,648.86 63,019.00 (14,649.41) 123%5100151 COS-GS-Soft Goods 6,123.99 6,256.25 (132.26) 121,590.13 117,035.60 4,554.53 117,035.05 (4,555.08) 104%5100152 COS-GS-Purchase Disc - (481.00) 481.00 (6.00) (9,004.00) 8,998.00 (9,003.00) (8,997.00) 0%5100220 COS-GS-Freight Merch - 144.00 (144.00) - 2,701.00 (2,701.00) 2,701.00 2,701.00 0%Cost of Sales - Golf Shop 8,076.60 9,288.00 (1,211.40) 199,252.54 173,752.15 25,500.39 173,752.05 (25,500.49) 115%Gross Profit 7,875.21 8,212.00 (336.79) 161,119.57 153,620.85 7,498.72 153,618.95 (1,105.52) 101%COS % 50.6% 53.1% 2.4% 55.3% 53.1% -2.2% 53.1% 95.8% -81%Expense61-PS-SALARIES & BENEFITS6101175 Employee Meals 360.00 360.00 - 4,680.00 4,680.00 - 4,680.00 - 100%6101320 Insurance Group 3,336.45 3,360.00 (23.55) 36,943.66 35,640.00 1,303.66 35,640.00 (1,303.66) 104%6101325 Insurance-Workers Comp 1,107.61 1,380.00 (272.39) 14,798.50 16,249.00 (1,450.50) 16,247.00 1,448.50 91%6101720 Salaries 8,808.99 3,499.00 5,309.99 68,880.97 41,988.00 26,892.97 72,000.00 3,119.03 96%6101800 Taxes-Employer Payroll 1,669.88 1,718.00 (48.12) 17,900.40 20,231.00 (2,330.60) 20,228.00 2,327.60 88%6101880 Wages-Hourly 9,603.09 10,299.00 (695.91) 103,089.26 120,493.00 (17,403.74) 90,474.00 (12,615.26) 114%6101882 Wages-Overtime 48.01 - 48.01 3,041.00 - 3,041.00 - 952.88 0%Total -PS-SALARIES & BENEFITS 24,934.03 20,616.00 4,318.03 249,333.79 239,281.00 10,052.79 239,269.00 (6,070.91) 103%61-PS OTHER EXPENSES6103742 Supplies-Expendable - - - 48.48 - 48.48 - (48.48) 0%6103762 Supplies-Office 316.33 45.00 271.33 2,909.72 1,525.00 1,384.72 1,525.00 (1,384.72) 191%6109090 Contract Services 500.00 500.00 - 6,000.00 6,000.00 - 6,000.00 - 100%6109220 Freight & Delivery 23.16 - 23.16 1,447.33 75.00 1,372.33 75.00 (1,372.33) 1930%6109490 Miscellaneous - 50.00 (50.00) 761.04 450.00 311.04 450.00 (311.04) 169%6109150 Dues and Subscriptions 345.78 - 345.78 2,143.42 2,000.00 143.42 2,000.00 (143.42) 107%6109500 ProShop-Over/Short 1.46 - 1.46 128.38 - 128.38 (128.38) 0%6109722 Seminars/Training - 35.00 (35.00) 4,699.00 5,490.00 (791.00) 5,490.00 791.00 86%6109810 Travel - Merchandise - 15.00 (15.00) - 90.00 (90.00) 90.00 90.00 0%6109820 Uniforms 78.20 100.00 (21.80) 3,699.23 1,800.00 1,899.23 1,800.00 (1,899.23) 206%6117840 Telephones 135.68 - 135.68 2,003.32 - 2,003.32 - (2,003.32) 0%Total PS-OTHER EXPENSES 1,400.61 745.00 655.61 23,839.92 17,430.00 6,409.92 17,430.00 (6,409.92) 137%Total Expenses26,334.64 21,361.00 4,973.64 273,173.71 256,711.00 16,462.71 256,699.00 (12,480.83) 105%Net Income(18,459.43) (13,149.00) (5,310.43) (112,054.14) (103,090.15) (8,963.99) (103,080.05) 11,375.31 -111%Month to Date Year to Date Annual BudgetSilverRock ResortGolf Shop Income StatementJune 20083 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 14,599.96 8,850.00 5,749.96 164,109.48 106,200.00 57,909.48 106,200.00 (57,909.48) -54.5%6311325 Insurance-Workers Comp 3,584.35 6,302.00 (2,717.65) 58,890.61 72,453.00 (13,562.39) 72,453.00 13,562.39 18.7%6311720 Salaries 13,557.72 12,333.00 1,224.72 134,981.00 147,980.00 (12,999.00) 148,000.00 13,019.00 8.8%6311800 Taxes-Employer Payroll 4,046.88 7,965.00 (3,918.12) 63,716.63 90,869.00 (27,152.37) 90,868.00 27,151.37 29.9%6311880 Wages-Hourly 41,026.55 45,780.00 (4,753.45) 512,811.89 549,296.00 (36,484.11) 565,951.00 53,139.11 9.4%6311882 Wages-Overtime 5,154.81 5,926.00 (771.19) 36,614.87 32,590.00 4,024.87 15,916.00 (20,698.87) -130.1%Total-CM-SALARIES & BENEFITS82,210.27 87,396.00 (5,185.73) 974,004.48 1,002,268.00 (28,263.52) 1,002,268.00 28,263.52 2.8%63-CM-SUPPLIES & MATERIALS6313734 Chemicals 4,231.13 2,000.00 2,231.13 42,694.52 23,900.00 18,794.52 23,900.00 (18,794.52) -78.6%6313744 Fertilizer 14,782.65 4,850.00 9,932.65 107,431.93 68,950.00 38,481.93 68,950.00 (38,481.93) -55.8%6313746 Flowers/Plants 150.85 - 150.85 5,171.56 3,500.00 1,671.56 3,500.00 (1,671.56) -47.8%6313748 Fuel-Gasoline 9,121.05 2,600.00 6,521.05 56,003.85 41,400.00 14,603.85 41,400.00 (14,603.85) -35.3%6313750 Golf Course Accessories - 100.00 (100.00) 11,134.78 4,200.00 6,934.78 4,200.00 (6,934.78) -165.1%6313756 POA Control - - - 6,985.11 6,000.00 985.11 6,000.00 (985.11) -16.4%6313758 Miscellaneous Supp 494.99 - 494.99 5,814.24 - 5,814.24 (5,814.24) 0.0%6313766 Pesticides 8.00 - 8.00 681.80 - 681.80 - (681.80) 0.0%6313762 Supplies-Office 230.55 100.00 130.55 2,280.43 1,200.00 1,080.43 1,200.00 (1,080.43) -90.0%6313774 Sand 581.42 100.00 481.42 3,362.50 6,660.00 (3,297.50) 6,660.00 3,297.50 49.5%6313775 Sand-Bunkers - - - - 5,000.00 (5,000.00) 5,000.00 5,000.00 100.0%6313776 Seed - 350.00 (350.00) 91,581.48 93,750.00 (2,168.52) 93,750.00 2,168.52 2.3%6313778 Small Tools & Non-Capital Equip - 100.00 (100.00) 7,879.51 6,500.00 1,379.51 6,500.00 (1,379.51) -21.2%6313780 Sod - 1,000.00 (1,000.00) 3,789.41 5,750.00 (1,960.59) 5,750.00 1,960.59 34.1%6313782 Topdressing - 1,300.00 (1,300.00) 7,101.97 3,900.00 3,201.97 3,900.00 (3,201.97) -82.1%Total-CM-SUPPLIES & MATERIALS29,600.64 12,500.00 17,100.64 351,913.09 270,710.00 81,203.09 270,710.00 (81,203.09) -30.0%63-CM-REPAIRS & MAINTENANCE6315095 CM-R&M-Contract Lake Maint 1,134.37 1,500.00 (365.63) 12,380.48 14,000.00 (1,619.52) 14,000.00 1,619.52 11.6%6315685 CM-R&M-Bldngs & Othr Structures 133.80 - 133.80 1,711.21 500.00 1,211.21 500.00 (1,211.21) -242.2%6315686 CM-R&M- Drainage - - - 651.64 - 651.64 (651.64) 0.0%6315690 CM-R&M-Equipment 4,769.90 1,400.00 3,369.90 47,215.85 28,800.00 18,415.85 28,800.00 (18,415.85) -63.9%6315692 CM-R&M-Irrigation System 2,257.49 1,000.00 1,257.49 16,342.33 15,450.00 892.33 15,450.00 (892.33) -5.8%6315696 CM-R&M-Pumps 2,055.99 - 2,055.99 32,198.87 5,000.00 27,198.87 5,000.00 (27,198.87) -544.0%6315815 CM-R&M-Trees-Pruning Etc - - - 4,605.00 4,000.00 605.00 4,000.00 (605.00) -15.1%Total-CM-REPAIRS & MAINTENANCE 10,351.55 3,900.00 6,451.55 115,105.38 67,750.00 47,355.38 67,750.00 (47,355.38) -69.9%63-CM-UTILTIES6317830 Utilities-Electricity-Bldngs - 2,360.00 (2,360.00) - 22,080.00 (22,080.00) 22,080.00 22,080.00 100.0%6317836 Utilities-Natural Gas/LPG - - - 174.49 - 174.49 (174.49) 0.0%6317840 Telephones 812.52 600.00 212.52 9,688.34 7,200.00 2,488.34 7,200.00 (2,488.34) -34.6%Total-CM-UTILITIES 812.52 2,960.00 (2,147.48) 9,862.83 29,280.00 (19,417.17) 29,280.00 19,417.17 66.3%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 660.00 - 660.00 1,527.19 - 1,527.19 (1,527.19) 0.0%6319100 Contract Svcs-Soil/Tissue Test - - - - 4,000.00 (4,000.00) 4,000.00 4,000.00 100.0%6319101 Contract Svcs-Trash Removal - 600.00 (600.00) 6,087.75 7,200.00 (1,112.25) 7,200.00 1,112.25 15.4%6319150 Dues & Subscriptions 320.00 100.00 220.00 338.00 900.00 (562.00) 900.00 562.00 62.4%6319170 Employee Education - 50.00 (50.00) 575.00 600.00 (25.00) 600.00 25.00 4.2%6319197 Equipment Rental 70.37 100.00 (29.63) 6,243.55 4,200.00 2,043.55 4,200.00 (2,043.55) -48.7%6319206 Licenses & Permits 100.00 - 100.00 1,997.00 1,600.00 397.00 1,600.00 (397.00) -24.8%6319490 Miscellaneous 32.30 100.00 (67.70) 4,630.25 1,200.00 3,430.25 1,200.00 (3,430.25) -285.9%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 - 100.00 (100.00) 6,485.31 3,400.00 3,085.31 3,400.00 (3,085.31) -90.7%6319822 Uniforms 734.75 720.00 14.75 10,701.16 9,390.00 1,311.16 9,390.00 (1,311.16) -14.0%6319999 Capital Expense-Capex - 3,700.00 (3,700.00) 40,700.00 44,400.00 (3,700.00) 44,400.00 3,700.00 8.3%Total-CM-OTHER EXPENSES 2,417.42 6,120.00 (3,702.58) 85,285.21 84,690.00 595.21 84,690.00 (595.21) -0.7%Month to Date Year to DateSilverRock ResortCourse Maintenance Expense StatementJune 2008Annual Budget4 JuneFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget632-CM-LANDSCAPE MAINTENANCE632-CM-LM-SALARIES & BENEFITS6321320 Insurance-Group 1,104.00 1,104.00 - 12,195.50 13,248.00 (1,052.50) 13,248.00 1,052.50 7.9%6321325 Insurance-Workers Comp 865.23 1,375.00 (509.77) 14,383.06 16,163.00 (1,779.94) 16,163.00 1,779.94 11.0%6321800 Taxes-Employer Payroll 933.40 1,749.00 (815.60) 18,145.92 20,368.00 (2,222.08) 20,369.00 2,223.08 10.9%6321880 Wages-Hourly 14,177.49 13,141.00 1,036.49 148,887.70 157,692.00 (8,804.30) 157,692.00 8,804.30 5.6%6321882 Wages-Overtime 243.02 910.00 (666.98) 13,852.86 5,915.00 7,937.86 5,915.00 (7,937.86) -134.2%Total-CM-LM-SALARIES & BENEFITS17,323.14 18,279.00 (955.86) 207,465.04 213,386.00 (5,920.96) 213,387.00 5,921.96 2.8%632-CM-LM-SUPPLIES & MATERIALS6323778 Small Tools - 75.00 (75.00) 778.83 1,025.00 (246.17) 1,025.00 246.17 24.0%6323788 Uniforms 199.99 240.00 (40.01) 3,126.67 2,880.00 246.67 2,880.00 (246.67) -8.6%Total-CM-LM-SUPPLIES & MATERIALS199.99 315.00 (115.01) 3,905.50 3,905.00 0.50 3,905.00 (0.50) 0.0%632-CM-LM-REPAIRS & MAINTENANCE6325687 CM-LM-R&M-Drip Irrigation 917.76 500.00 417.76 3,475.72 4,250.00 (774.28) 4,250.00 774.28 18.2%Total-CM-LM-REPAIRS & MAINTENANCE 917.76 500.00 417.76 3,475.72 4,250.00 (774.28) 4,250.00 774.28 18.2%632-CM-WATER & ENERGY6337834 Utilities-Electricity-Pumping - 8,500.00 (8,500.00) 62,272.14 102,000.00 (39,727.86) 102,000.00 39,727.86 38.9%6337842 Utilities-Water9,490.08 1,814.00 7,676.08 34,754.48 18,126.00 16,628.48 18,126.00 (16,628.48) -91.7%Total-CM-WATER & ENERGY9,490.08 10,314.00 (823.92) 97,026.62 120,126.00 (23,099.38) 120,126.00 23,099.38 19.2%153,323.37 142,284.00 11,039.37 1,848,043.87 1,796,365.00 51,678.87 1,796,366.00 (51,677.87) -2.9%Silverrock ResortCourse Maintenance Expense StatementJune 2008Annual 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 - 6,180.00 6,180.00 - 6,180.00 - 0.0%6411320 Insurance-Group 60.25 720.00 (659.75) 1,439.70 8,640.00 (7,200.30) 8,640.00 7,200.30 83.3%6411325 Insurance-Workers Comp 739.21 1,396.00 (656.79) 9,936.83 16,100.00 (6,163.17) 16,097.00 6,160.17 38.3%6411800 Taxes-Employer Payroll 1,426.20 1,210.00 216.20 14,274.25 13,955.00 319.25 13,956.00 (318.25) -2.3%6411880 Wages-Hourly 12,263.63 9,720.00 2,543.63 119,383.69 112,095.00 7,288.69 112,095.00 (7,288.69) -6.5%6411882 Wages-Overtime 56.44 - 56.44 1,346.66 - 1,346.66 - (1,346.66) 0.0%Total-CBR-SALARIES & BENEFITS15,025.73 13,526.00 1,499.73 152,561.13 156,970.00 (4,408.87) 156,968.00 4,406.87 2.8%641-CBR-SUPPLIES & MATERIALS6413732 Supplies-Carts 220.50 50.00 170.50 3,743.22 2,350.00 1,393.22 2,350.00 (1,393.22) -59.3%6413742 Supplies-Expendable 464.74 500.00 (35.26) 6,255.23 5,050.00 1,205.23 5,050.00 (1,205.23) -23.9%6413752 Supplies-Range Balls - - - 7,524.92 6,000.00 1,524.92 6,000.00 (1,524.92) -25.4%6413762 Supplies-Office - 50.00 (50.00) 144.08 525.00 (380.92) 525.00 380.92 72.6%6413768 Supplies-Printing and Stationary - 70.00 (70.00) 1,200.41 420.00 780.41 420.00 (780.41) -185.8%6413786 Supplies-Towels 2,571.47 72.00 2,499.47 4,198.64 2,292.00 1,906.64 2,292.00 (1,906.64) -83.2%6413796 Supplies-Bottled Water1,514.36 2,009.00 (494.64) 24,174.23 22,631.00 1,543.23 22,631.00 (1,543.23) -6.8%Total-CBR-SUPPLIES & MATERIALS4,771.07 2,751.00 2,020.07 47,240.73 39,268.00 7,972.73 39,268.00 (7,972.73) -20.3%641-CBR-REPAIRS & MAINTENANCE6415096 CBR-R&M-Contract Services-Carts 720.00 720.00 - 7,845.24 8,640.00 (794.76) 8,640.00 794.76 9.2%6415690 CBR-R&M-Equipment 363.11 125.00 238.11 4,523.18 1,500.00 3,023.18 1,500.00 (3,023.18) -201.5%6415695 CBR-R&M-Cart Maintenance & Repair 166.77 250.00 (83.23) 4,593.14 4,000.00 593.14 4,000.00 (593.14) -14.8%Total-CBR-REPAIRS & MAINTENANCE 1,249.88 1,095.00 154.88 16,961.56 14,140.00 2,821.56 14,140.00 (2,821.56) -20.0%641-CBR-OTHER EXPENSES6419093 Contract Services-Handicaps - 200.00 (200.00) 3,955.00 5,000.00 (1,045.00) 5,000.00 1,045.00 20.9%6419094 Contract Services-Laundry/Linen 1,172.36 250.00 922.36 6,143.95 3,000.00 3,143.95 3,000.00 (3,143.95) -104.8%6419220 Freight/Delivery - 75.00 (75.00) 86.00 900.00 (814.00) 900.00 814.00 90.4%6419490 Miscellaneous - 125.00 (125.00) 996.52 1,150.00 (153.48) 1,150.00 153.48 13.3%6419820 Uniforms 1,009.44 200.00 809.44 3,708.28 5,625.00 (1,916.72) 5,625.00 1,916.72 34.1%Total-CBR-OTHER EXPENSES 2,181.80 850.00 1,331.80 14,889.75 15,675.00 (785.25) 15,675.00 785.25 5.0%TOTAL-CARTS,BAGROOM & RANGE 23,228.48 18,222.00 5,006.48 231,653.17 226,053.00 5,600.17 226,051.00 (5,602.17) -2.5%643-CS-SALARIES & BENEFITS6431175 Employee Meals 240.00 240.00 - 3,120.00 3,120.00 - 3,120.00 - 0.0%6431325 Insurance-Workers Comp 371.82 320.00 51.82 4,746.09 4,074.00 672.09 4,073.00 (673.09) -16.5%6431800 Taxes-Employer Payroll 797.89 398.00 399.89 7,667.51 5,070.00 2,597.51 5,071.00 (2,596.51) -51.2%6431880 Wages-Hourly 6,194.00 3,200.00 2,994.00 58,015.33 40,731.00 17,284.33 40,732.00 (17,283.33) -42.4%6431882 Wages-Overtime 3.00 - 3.00 378.61 - 378.61 - (378.61) 0.0%Total-CS-SALARIES & BENEFITS7,606.71 4,158.00 3,448.71 73,927.54 52,995.00 20,932.54 52,996.00 (20,931.54) -39.5%643-CS-OTHER EXPENSES6433742 Supplies Expendable - 75.00 (75.00) 2,718.11 1,050.00 1,668.11 1,050.00 (1,668.11) -158.9%6439490 Miscellaneous - - - 61.00 200.00 (139.00) 200.00 139.00 69.5%6439718 Safety Equipment & Training - 50.00 (50.00) - 600.00 (600.00) 600.00 600.00 100.0%6439820 Uniforms 495.37 75.00 420.37 1,379.10 1,900.00 (520.90) 1,900.00 520.90 27.4%6439999 Capital Expense-Capex - 1,213.00 (1,213.00) 12,130.00 14,556.00 (2,426.00) 14,556.00 2,426.00 16.7%Total-CS-OTHER EXPENSES 495.37 1,413.00 (917.63) 16,288.21 18,306.00 (2,017.79) 18,306.00 2,017.79 11.0%Total-COURSE SERVICES 8,102.08 5,571.00 2,531.08 90,215.75 71,301.00 18,914.75 71,302.00 (18,913.75) -26.5%TOTAL OUTSIDE SERVICES 31,330.56 23,793.00 7,537.56 321,868.92 297,354.00 24,514.92 297,353.00 (26,533.71) -8.9%Month to Date Year to DateSilverRock ResortOutside Services Expense StatementJune 2008Annual Budget6 JuneFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense65-CH-SUPPLIES & MATERIALS6503742 Supplies-Expendable202.38 400.00 (197.62) 5,200.48 4,800.00 400.48 4,800.00 (400.48) -8.3%Total-CH-SUPPLIES & MATERIALS 202.38 400.00 (197.62) 5,200.48 4,800.00 400.48 4,800.00 (400.48) -8.3%65-CH-UTILITIES6507836 Utilities-Natural Gas464.74 300.00 164.74 5,868.80 3,600.00 2,268.80 3,600.00 (2,268.80) -63.0%6507838 Utilities-Sewer- 200.00 (200.00) - 2,400.00 (2,400.00) 2,400.00 2,400.00 100.0%6507840 Utilities-Telephone974.29 1,000.00 (25.71) 15,161.35 12,000.00 3,161.35 12,000.00 (3,161.35) -26.3%6507842 Utilities-Water- 200.00 (200.00) 1,727.59 2,400.00 (672.41) 2,400.00 672.41 28.0%6507844 Utilities-Cable333.38 317.00 16.38 4,046.31 3,804.00 242.31 3,800.00 (246.31) -6.5%Total-CH-UTILITIES 1,772.41 2,017.00 (244.59) 26,804.05 24,204.00 2,600.05 24,200.00 (2,604.05) -10.8%65-CH-OTHER EXPENSES6509091 Contract Services-Cleaning1,825.00 1,825.00 - 23,320.00 22,500.00 820.00 22,500.00 (820.00) -3.6%6509098 Contract Services-Refuse Dispose311.74 500.00 (188.26) 4,917.30 6,000.00 (1,082.70) 6,000.00 1,082.70 18.0%6509099 Contract Services-Security8,140.08 8,100.00 40.08 107,730.20 97,200.00 10,530.20 97,200.00 (10,530.20) -10.8%6509215 Flowers & Decorations- 100.00 (100.00) 1,319.08 2,600.00 (1,280.92) 2,600.00 1,280.92 49.3%6509490 Miscellaneous- 200.00 (200.00) 779.43 2,400.00 (1,620.57) 2,400.00 1,620.57 67.5%6509718 Safety Equipment & Training- 100.00 (100.00) 122.19 1,200.00 (1,077.81) 1,200.00 1,077.81 89.8%Total-CH-OTHER EXPENSES 10,276.82 10,825.00 (548.18) 138,188.20 131,900.00 6,288.20 131,900.00 (6,288.20) -4.8%65-CH-REPAIRS & MAINTENANCE6515685 CH-R&M-Building Structures290.00 200.00 90.00 5,986.94 2,400.00 3,586.94 2,400.00 (3,586.94) -149.5%6515686 CH-R&M-Restaurant Repairs225.56 400.00 (174.44) 5,260.85 4,800.00 460.85 4,800.00 (460.85) -9.6%6515690 CH-R&M-Equipment Repair- 400.00 (400.00) 2,823.49 4,800.00 (1,976.51) 4,800.00 1,976.51 41.2%Total-CH-REPAIRS & MAINTENANCE 515.56 1,000.00 (484.44) 14,071.28 12,000.00 2,071.28 12,000.00 (2,071.28) -17.3%Total CLUBHOUSE 12,767.17 14,242.00 (1,474.83) 184,264.01 172,904.00 11,360.01 172,900.00 (4,142.56) -2.4%Month to Date Year to DateSilverRock ResortClubhouse Expense StatementJune 2008Annual Budget7 JuneFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget66-MKT-SUPPLIES & MATERIALS6603762 Supplies-Office - 100.00 (100.00) 724.15 1,200.00 (475.85) 1,200.00 475.85 39.7%6603768 Supplies-Printing & Stationery 86.20 125.00 (38.80) 4,599.86 4,425.00 174.86 4,425.00 (174.86) -4.0%86.20 225.00 (138.80) 5,324.01 5,625.00 (300.99) 5,625.00 300.99 5.4%66-MKT-UTILITIES6607840 Utilities-Telephone 136.95 100.00 36.95 1,988.98 1,200.00 788.98 1,200.00 (788.98) -65.7%Total-MKT-UTILITIES 136.95 100.00 36.95 1,988.98 1,200.00 788.98 1,200.00 (788.98) -65.7%66-MKT-OTHER EXPENSES6609010 Advertising 18,973.81 9,702.00 9,271.81 233,221.22 221,834.00 11,387.22 221,834.00 (11,387.22) -5.1%6609040 Business Meals - 25.00 (25.00) 49.67 300.00 (250.33) 300.00 250.33 83.4%6609080 Collateral Material 357.73 500.00 (142.27) 3,864.92 9,000.00 (5,135.08) 9,000.00 5,135.08 57.1%6609102 Contract Services-Web Page 449.00 175.00 274.00 2,148.69 2,100.00 48.69 2,100.00 (48.69) -2.3%6609490 Miscellaneous - - - - 350.00 (350.00) 350.00 350.00 100.0%6609620 Postage - 50.00 (50.00) 222.75 600.00 (377.25) 600.00 377.25 62.9%6609630 Promotion 757.55 - 757.55 1,853.26 6,500.00 (4,646.74) 6,500.00 4,646.74 0.0%6609633 Promotion-Community 873.74 75.00 798.74 1,023.74 2,925.00 (1,901.26) 2,925.00 1,901.26 65.0%6609634 Promotion-Media/Vendor - 50.00 (50.00) 700.00 700.00 - 700.00 - 0.0%6609150 Dues and Subscriptions - - - 1,835.00 735.00 1,100.00 735.00 (1,100.00) -149.7%6609820 Uniforms - - - 268.90 600.00 (331.10) 600.00 331.10 55.2%Total-MKT-OTHER EXPENSES 21,411.83 10,577.00 10,834.83 245,188.15 245,644.00 (455.85) 245,644.00 455.85 0.2%Total-MARKETING 21,634.98 10,902.00 10,732.98 252,631.94 252,469.00 162.94 252,469.00 (162.94) -0.1%Month to Date Year to DateSilverRock ResortMarketing Expense StatementJune 2008Annual 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-Group1,834.10 1,980.00 (145.90) 19,609.80 23,760.00 (4,150.20) 23,760.00 4,150.20 17.5%6701325 Insurance-Workers Comp1,133.24 1,673.00 (539.76) 16,418.70 20,076.00 (3,657.30) 20,076.00 3,657.30 18.2%6701720 Salaries 16,335.74 14,000.00 2,335.74 164,768.57 168,000.00 (3,231.43) 168,000.00 3,231.43 1.9%6701800 Taxes-Employer Payroll 1,166.98 2,083.00 (916.02) 16,180.23 24,996.00 (8,815.77) 24,994.00 8,813.77 35.3%6701880 Wages-Hourly2,551.54 2,730.00 (178.46) 32,252.00 32,760.00 (508.00) 32,756.00 504.00 1.5%6701882 Wages-Overtime - - - 298.13 - 298.13 - (298.13) 0.0%Total-G&A-SALARIES & BENEFITS 23,201.60 22,646.00 555.60 251,687.43 271,752.00 (20,064.57) 271,746.00 20,058.57 7.4%67-G&A-SUPPLIES & MATERIALS6703740 Supplies-Computer237.48 500.00 (262.52) 7,302.44 6,000.00 1,302.44 6,000.00 (1,302.44) -21.7%6703762 Supplies-Office 130.03 125.00 5.03 1,934.79 1,500.00 434.79 1,500.00 (434.79) -29.0%6703768 Supplies-Printing & Stationery125.22 400.00 (274.78) 1,621.06 3,200.00 (1,578.94) 3,200.00 1,578.94 49.3%6703778Supplies-Small Tools/Non-Capital - - - 1,061.50 900.00 161.50 900.00 (161.50) -17.9%Total-G&A-SUPPLIES & MATERIALS 492.73 1,025.00 (532.27) 11,919.79 11,600.00 319.79 11,600.00 (319.79) -2.8%67-G&A-REPAIRS & MAINTENANCE6705690 Repairs & Maintenance-Equipment- 100.00 (100.00) 1,597.31 1,200.00 397.31 1,200.00 (397.31) -33.1%Total-G&A-REPAIRS & MAINTENANCE - 100.00 (100.00) 1,597.31 1,200.00 397.31 1,200.00 (397.31) -33.1%67-G&A-OTHER EXPENSES6709020 Auto/Mileage Allowance400.00 400.00 - 4,800.00 4,800.00 - 4,800.00 - 0.0%6709090 Contract Services998.86 - 998.86 3,691.01 - 3,691.01 - - 0.0%6709150 Dues & Subscriptions- 50.00 (50.00) 896.00 1,500.00 (604.00) 1,500.00 604.00 40.3%6709180 Employee Recruiting/Relocation176.70 - 176.70 2,833.42 4,600.00 (1,766.58) 4,600.00 1,766.58 38.4%6709197 Equipment Rental327.00 350.00 (23.00) 6,117.34 4,200.00 1,917.34 4,200.00 (1,917.34) -45.7%6709202 Fees-Bank34.80 300.00 (265.20) 512.47 3,600.00 (3,087.53) 3,600.00 3,087.53 85.8%6709208 Fees-Payroll Processing578.53 550.00 28.53 8,886.34 6,600.00 2,286.34 6,600.00 (2,286.34) -34.6%6709220 Freight/Delivery6.75 50.00 (43.25) 373.74 600.00 (226.26) 600.00 226.26 37.7%6709490 Miscellaneous 20.00 100.00 (80.00) 994.45 1,200.00 (205.55) 1,200.00 205.55 17.1%6709491 Loss/Damage- - - 150.00 - 150.00 - 0.0%6709620 Postage/Mail Services 53.76 75.00 (21.24) 1,480.56 900.00 580.56 900.00 (580.56) -64.5%6709625 Professional Fees637.50 400.00 237.50 2,048.78 4,800.00 (2,751.22) 4,800.00 2,751.22 57.3%6709636 Promotion/Entertainment92.90 100.00 (7.10) 3,729.43 1,200.00 2,529.43 1,200.00 (2,529.43) -210.8%6709722 Seminars & Training- 100.00 (100.00) 1,561.34 900.00 661.34 900.00 (661.34) -73.5%6709810 Travel - 200.00 (200.00) - 1,100.00 (1,100.00) 1,100.00 1,100.00 100.0%6709820 Uniforms 39.37 75.00 (35.63) 587.41 1,050.00 (462.59) 1,050.00 462.59 44.1%Total-G&A-OTHER EXPENSES 3,366.17 2,750.00 616.17 38,662.29 37,050.00 1,612.29 37,050.00 2,228.72 6.0%Total-GENERAL & ADMINISTRATIVE27,060.50 26,521.00 539.50 303,866.82 321,602.00 (17,735.18) 321,596.00 21,570.19 6.7%Month to Date Year to DateSilverRock ResortGeneral & Administrative Expense StatementJune 2008Annual Budget9 JuneFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense68-LEASES6800192 Equipment Leases-Carts 11,663.40 9,800.00 1,863.40 125,526.65 117,600.00 7,926.65 117,600.00 (7,926.65) -6.7%6800193 Equipment Leases-Course Maint 16,267.05 20,000.00 (3,732.95) 210,760.11 240,000.00 (29,239.89) 240,000.00 29,239.89 12.2%6800194 Equipment Leases-Trailer 617.00 600.00 17.00 7,568.92 7,200.00 368.92 7,200.00 (368.92) -5.1%6800195 Equipment Leases-Software 1,791.93 1,525.00 266.93 21,870.18 18,300.00 3,570.18 18,300.00 (3,570.18) -19.5%6800196 Equipment Leases-GPS 6,840.14 7,400.00 (559.86) 82,081.68 88,800.00 (6,718.32) 88,800.00 6,718.32 7.6%6800197 Equipment Leases-Others (205.20) - (205.20) 26,476.00 - 26,476.00 - - 0.0%Total-LEASES 36,974.32 39,325.00 (2,350.68) 474,283.54 471,900.00 2,383.54 471,900.00 24,092.46 5.1%69-MISC OTHER EXPENSES6900096 Contract Srvcs-Management Fee 16,574.08 19,844.00 (3,269.92) 85,514.96 111,276.00 (25,761.04) 111,277.00 25,762.04 23.2%6900210 FF&E Reserve 3,572.56 3,843.00 (270.44) 70,236.54 71,687.00 (1,450.46) 71,686.00 1,449.46 2.0%6900800 Personal Property Taxes - - - 18,249.05 20,000.00 (1,750.95) 20,000.00 1,750.95 8.8%6900323 Insurance-Commercial 4,596.00 4,200.00 396.00 28,442.55 50,400.00 (21,957.45) 50,400.00 21,957.45 43.6%Total-MISC OTHER EXPENSES24,742.64 27,887.00 (3,144.36) 202,443.10 253,363.00 (50,919.90) 253,363.00 50,919.90 20.1% Operating Leases & Miscellaneous Other Expense StatementJune 2008Annual BudgetMonth to Date Year to Date10 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report-2007-20082007 2007 2007 2007 2007 2007Comp CategoryJulyAugustSeptemberOctoberNovemberDecemberMedia1416097Sales2PromotionGolf Industry7 2022 1516VIPCelebrity PGA Comp52 54 48 22 42 51Charity/Gift Certificate81526Rain/Wind Checks41434Club Staff88 99 98 35 87 157LQ HS Golf148 177 196 58 172 2932008 2008 2008 2008 2008 2008Comp CategoryJanuaryFebruaryMarchAprilMayJuneMedia215712 2Sales3212PromotionGolf Industry11 372636 12 17VIPCelebrityPGA Comp60 656370 68 83Charity/Gift Certificate11 4 9 3Rain/Wind Checks442532 6 3Club Staff59 32101 124 144LQ HS Golf85 131 158147 245 264 310 223 25011