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03 September 2005 SilverRock Resort - Monthly Financial Statement MONTHLY FINANCIAL STATEMENT JULY 2005-SEPTEMBER 2005 TABLE OF CONTENTS Summary Operating Income Expense 1 Variance Report 2 Statement of Fee Revenue 3 Golf Shop Income Statement 4 Course Maintenance Expense Statement 5 Outside Service Expense Statement 7 Clubhouse Expense Statement 8 Marketing Expense Statement 9 General & Administrative Expense Statement 10 Operating Leases & 11 Miscellaneous Other Expense Statement Special Projects 12 FFE 13 SilverRock Resort Summary Operating Income Statement September 2005 Month to Date Year to Date September Finals Budget Variance Final Budget Variance Income 400000 Revenue-Fees 111,022.00 138,364.00 (27,342.00) 260,961.74 409,982.00 (149,020.26) 410000 Revenue-Golf Shop 17,003.32 17,338.00 (334.68) 39,077.85 52,630.00 (13,552.15) 420000 Revenue-F&B Concession 1,000.00 500.00 500.00 1,500.00 1,500.00 - 890000 Interest Income 18.01 - 18.01 40.25 - 40.25 Total Income 129,043.33 156,202.00 (27,158.67) 301,579.84 464,112.00 (162,532.16) Cost of Goods Sold 510000 COS-Golf Shop 9,746.02 10,582.65 (836.63) 25,954.51 31,357.80 (5,403.29) Total COS 9,746.02 10,582.65 (836.63) 25,954.51 31,357.80 (5,403.29) Gross Profit 119,297.31 145,619.35 (26,322.04) 275,625.33 432,754.20 (157,128.87) 610000 Golf Pro Shop 11,465.20 14,808.00 (3,342.80) 37,098.11 45,018.00 (7,919.89) 630000 Course Maintenance 143,235.31 139,830.00 3,405.31 449,101.20 419,498.00 29,603.20 640000 Outside Services 16,971.92 21,634.00 (4,662.08) 50,060.02 64,692.00 (14,631.98) 650000 Clubhouse 11,752.53 16,318.00 (4,565.47) 27,367.05 51,217.00 (23,849.95) 660000 Marketing 5,072.73 15,217.00 (10,144.27) 26,021.83 39,251.00 (13,229.17) 670000 General & Administrative 23,828.16 25,648.00 (1,819.84) 73,492.37 72,744.00 748.37 680000 Leases 31,462.26 27,525.00 3,937.26 85,670.82 82,575.00 3,095.82 690000 Miscellaneous Other Expense 7,500.00 12,461.00 (4,961.00) 22,500.00 27,461.00 (4,961.00) Total Expenses 251,288.11 273,441.00 (18,810.09) 771,311.40 802,456.00 (31,144.60) Net Income (131,990.80) (127,821.65) (7,511.95) (495,686.07) (369,701.80) (125,984.27) Special Projects 635000 Drainage 22,590.08 94,428.50 (71,838.42) 112,453.77 175,547.00 (63,093.23) 637000 Landscape 84,061.99 - 84,061.99 41,734.99 8,640.00 33,094.99 639000 Sod 40,294.82 25,000.00 15,294.82 77,782.43 26,500.00 51,282.43 690000 Contract Svc-Special Projects 4,462.50 4,666.66 (204.16) 15,225.00 14,000.00 1,225.00 Total Special Projects 151,409.39 124,095.16 27,314.23 247,196.19 224,687.00 22,509.19 Rounds of Golf Played September Rounds 2,687 2,700 (13) 3,817 5,300 (1,483) Ave $ Per Round Green Fee 11.71 10.19 1.51 22.44 15.58 6.86 Ave $ Per Round Merchandise 2.79 4.62 (1.82) 5.89 5.18 0.71 1 SilverRock Resort Variance Explanations September 2005 ACTUAL BUDGET VARIANCE SALES AND COST OF SALES Green Fees 108,654.00$ 136,474.00$ (27,820.00)$ (To Include; Driving Range, Club Rental, Handicap Fees) Unfavorable variance: Green fee revenues were down due to: The Golf Course is still in a state of construction (drainage improvements, sod replacement, & native area clean up). A Promotion was offered to lure additional customers, but lowered average rate due to lower green fees. Pro Shop Merchandise Sales 17,003.32$ 17,338.00$ (334.68)$ Pro Shop Cost of Sales 9,746.02$ 10,582.65$ (836.63)$ 57%61% Golf Pro Shop 11,465.20$ 14,808.00$ (3,342.80)$ Favorable variance due to reducing payroll due to fewer rounds played than budgeted. Outside Services 16,971.92$ 21,634.00$ (4,662.08)$ Favorable variance due to reducing payroll due to fewer rounds played than budgeted. Clubhouse 11,752.53$ 16,318.00$ (4,565.47)$ Favorable variance due to utilities bills not yet received in our office, the bills are sent directly to City where they are being processed and paid. Contract Services security new monthly billing started in September 2005. Marketing / Advertising 5,072.73$ 15,217.00$ (10,144.27)$ Favorable variance due to timing of advertising invoices that were received. G & A 23,828.16$ 25,648.00$ (1,819.84)$ Favorable variance due to timing difference in payroll. Leases 31,462.26$ 27,525.00$ 3,937.26$ Unfavorable variance due to GPS Deposit payment required on contract. Misc Other Expenses $18,439.30 $20,617 (2,177.70)$ Favorable variance due to adjustment to Contract Services Management fee from prior month. This fee was reclassed from Management Fee to Management Fee F&B. Special Projects $151,409.39 151,409.39$ Unfavorable variance due to unallocated temporary payroll which has been approved by the the City Manager and the Public Works Director/City Engineer. 2 SilverRock Resort Statement of Fees Revenue September 2005 Month to Date Year to Date Income September Finals Budget Variance Final Budget Variance 4000000 Revenue-Fees 108,654.00 136,474.00 (27,820.00) 255,637.74 404,382.00 (148,744.26) 4010000 Rider Fee 125.00 - 125.00 225.00 - 225.00 4040000 Club Rental 590.00 405.00 185.00 1,365.00 1,200.00 165.00 4050000 Driving Range 1,493.00 1,485.00 8.00 3,414.00 4,400.00 (986.00) 4060000 Handicap Fees 160.00 - 160.00 320.00 - 320.00 Total Revenue Fees 111,022.00 138,364.00 (27,342.00) 260,961.74 409,982.00 (149,020.26) Total Income 111,022.00 138,364.00 (27,342.00) 260,961.74 409,982.00 (149,020.26) 3 SilverRock Resort Golf Shop Income Statement September 2005 Month to Date Year to Date Income September Finals Budget Variance Final Budget Variance 4100000 Sales Miscellaneous 159.28 - 159.28 376.74 - 376.74 4100110 Sales Hard Goods 6,596.84 7,020.00 (423.16) 12,939.43 20,801.50 (7,862.07) 4100112 Sales-Soft Goods 15,242.70 10,530.00 4,712.70 32,262.40 31,201.50 1,060.90 5100639 GS-Discounts-Mdse (4,995.50) (212.00) (4,783.50) (6,500.72) 627.00 (7,127.72) Total Revenue Golf Shop 17,003.32 17,338.00 (334.68) 39,077.85 52,630.00 (13,552.15) COS 5100150 COS-GS-Hard Goods 3,422.38 4,233.06 (810.68) 8,715.08 12,543.30 (3,828.22) 5100151 COS-GS-Soft Goods 6,323.64 6,349.59 (25.95) 17,239.43 18,814.50 (1,575.07) Cost of Sales - Golf Shop 9,746.02 10,582.65 (836.63) 25,954.51 31,357.80 (5,403.29) Gross Profit 7,257.30 6,755.35 (1,171.31) 13,123.34 21,272.20 (8,148.86) COS %57.3%61.0%250.0%66.4%59.6%39.9% Expense 61-PS-SALARIES & BENEFITS 6101175 Employee Meals 344.72 240.00 104.72 1,162.17 720.00 442.17 6101320 Insurance Group 1,366.94 1,440.00 (73.06) 4,565.49 4,320.00 245.49 6101325 Insurance-Workers Comp 469.34 1,361.00 (891.66) 1,524.89 4,083.00 (2,558.11) 6101720 Salaries 2,120.24 3,333.00 (1,212.76) 7,699.44 9,999.00 (2,299.56) 6101800 Taxes-Employer Payroll 466.10 1,180.00 (713.90) 1,830.67 3,540.00 (1,709.33) 6101880 Wages-Hourly 3,281.28 6,145.00 (2,863.72) 13,691.98 18,435.00 (4,743.02) 6101882 Wages-Overtime 310.50 - 310.50 354.38 - 354.38 Total -PS-SALARIES & BENEFITS 8,359.12 13,699.00 (5,339.88) 30,829.02 41,097.00 (10,267.98) 61-PS-SUPPLIES & MATERIALS 6103742 Supplies-Expendable 649.65 200.00 449.65 680.82 600.00 80.82 Total PS-SUPPLIES & MATERIALS 649.65 200.00 449.65 680.82 600.00 80.82 61-PS OTHER EXPENSES 6103762 Supplies-Office 795.25 - 795.25 1,036.93 - 1,036.93 6109090 Contract Services 1,500.00 500.00 1,000.00 1,000.00 1,500.00 (500.00) 6109197 Equipment Rental 17.56 - 17.56 2,253.70 - 2,253.70 6109220 Freight & Delivery 10.11 159.00 (148.89) 160.64 471.00 (310.36) 6109490 Miscellaneous - - - 57.03 - 57.03 6109500 ProShop-Over/Short (0.68) - (0.68) (9.05) - (9.05) 6109722 Seminars/Training - 150.00 (150.00) 678.59 1,050.00 (371.41) 6109810 Travel - Merchandise - - - 48.00 - 48.00 6109820 Uniforms - 100.00 (100.00) - 300.00 (300.00) 6117840 Telephones 134.19 - 134.19 362.43 - 362.43 Total PS-OTHER EXPENSES 2,456.43 909.00 1,547.43 5,588.27 3,321.00 2,267.27 Total Expenses 11,465.20 14,808.00 (3,342.80) 37,098.11 45,018.00 (7,919.89) Net Income (4,207.90) (8,052.65) 2,171.49 (23,974.77) (23,745.80) (228.97) 4 September Final Budget Variance Final Budget Variance Expense 63-CM-SALARIES & BENEFITS 6311175 Employee Meals 174.22 240.00 (65.78)745.12 720.00 25.12 6311320 Insurance-Group 9,776.23 5,880.00 3,896.23 33,512.00 17,640.00 15,872.00 6311325 Insurance-Workers Comp 4,161.62 8,754.00 (4,592.38) 15,145.94 24,898.00 (9,752.06) 6311720 Salaries 10,513.66 12,081.00 (1,567.34) 34,782.59 36,243.00 (1,460.41) 6311800 Taxes-Employer Payroll 6,950.82 7,705.00 (754.18) 19,588.40 21,701.00 (2,112.60) 6311880 Wages-Hourly 45,943.94 47,037.00 (1,093.06) 146,765.35 135,297.00 11,468.35 6311882 Wages-Overtime 16,006.90 2,769.00 13,237.90 48,139.80 2,769.00 45,370.80 Total-CM-SALARIES & BENEFITS 93,527.39 84,466.00 9,061.39 298,679.20 239,268.00 59,411.20 63-CM-SUPPLIES & MATERIALS 6313734 Chemicals - - - 3,138.33 - 3,138.33 6313744 Fertilizer 5,776.07 500.00 5,276.07 15,099.73 7,000.00 8,099.73 6313746 Flowers/Plants - 500.00 (500.00) 40.63 600.00 (559.37) 6313748 Fuel-Gasoline 4,521.59 1,400.00 3,121.59 11,388.40 4,200.00 7,188.40 6313750 Golf Course Accessories 84.83 200.00 (115.17) 2,083.37 400.00 1,683.37 6313756 Supplies-Lubricants & Oils - - - 434.50 - 434.50 6313758 Miscellaneous Supp 1,906.36 50.00 1,856.36 3,946.52 150.00 3,796.52 6313762 Supplies-Office 573.37 - 573.37 1,132.12 - 1,132.12 6313766 Pesticides 2,336.74 750.00 1,586.74 9,043.40 2,250.00 6,793.40 6313774 Sand - - - 15.77 780.00 (764.23) 6313776 Seed 538.75 250.00 288.75 538.75 950.00 (411.25) 6313778 Small Tools & Non-Capital Equip 6,229.16 5,550.00 679.16 6,737.64 5,900.00 837.64 6313780 Sod - - - 507.03 1,500.00 (992.97) 6313782 Topdressing - - - - 2,000.00 (2,000.00) Total-CM-SUPPLIES & MATERIALS 21,966.87 9,200.00 12,766.87 54,106.19 25,730.00 28,376.19 63-CM-REPAIRS & MAINTENANCE 6315095 CM-R&M-Contract Lake Maint 411.25 1,500.00 (1,088.75) 4,010.57 4,500.00 (489.43) 6315685 CM-R&M-Bldngs & Othr Structures 2,627.85 - 2,627.85 3,408.24 - 3,408.24 6315690 CM-R&M-Equipment 4,554.54 1,500.00 3,054.54 10,456.21 3,500.00 6,956.21 6315692 CM-R&M-Irrigation System 127.60 1,000.00 (872.40) 4,378.86 2,300.00 2,078.86 6315696 CM-R&M-Pumps - - - 1,802.32 1,000.00 802.32 Total-CM-REPAIRS & MAINTENANCE 7,721.24 4,000.00 3,721.24 24,056.20 11,300.00 12,756.20 63-CM-UTILTIES 6317830 Utilities-Electricity-Bldngs - 1,765.00 (1,765.00) 366.91 7,190.00 (6,823.09) 6317840 Telephones 975.47 325.00 650.47 2,463.02 975.00 1,488.02 Total-CM-UTILITIES 975.47 2,090.00 (1,114.53) 2,829.93 8,165.00 (5,335.07) 63-CM-OTHER EXPENSES 6319000 CM-Other Expenses - - - 5.00 - 5.00 6319020 Auto Mileage/Allowance 500.00 500.00 - 1,500.00 1,500.00 - 6319100 Contract Svcs-Soil/Tissue Test - 2,000.00 (2,000.00) - 2,000.00 (2,000.00) 6319101 Contract Svcs-Trash Removal 1,251.63 800.00 451.63 2,740.23 2,400.00 340.23 6319150 Dues & Subscriptions - - - - 250.00 (250.00) 6319170 Employee Education - 60.00 (60.00) - 1,320.00 (1,320.00) 6319197 Equipment Rental 17.57 100.00 (82.43) 6,435.31 300.00 6,135.31 6319206 Licenses & Permits 4.00 - 4.00 4.00 500.00 (496.00) 6319490 Miscellaneous 465.00 50.00 415.00 7,647.21 150.00 7,497.21 6319500 Propane/Natural Gas - 50.00 (50.00) - 150.00 (150.00) 6319718 Safety Equipment & Training 434.34 1,700.00 (1,265.66) 1,269.38 1,900.00 (630.62) 6319822 Uniforms 623.66 750.00 (126.34) 2,547.45 2,250.00 297.45 Total-CM-OTHER EXPENSES 3,296.20 6,010.00 (2,713.80) 22,148.58 12,720.00 9,428.58 Month to Date Year to Date SilverRock Resort Course Maintenance Expense Statement September 2005 5 September Final Budget Variance Final Budget Variance 632-CM-LANDSCAPE MAINTENANCE 632-CM-LM-SALARIES & BENEFITS 6321320 Insurance-Group - - - 1,949.98 - 1,949.98 6321325 Insurance-Workers Comp 411.76 2,143.00 (1,731.24) 2,029.15 6,239.00 (4,209.85) 6321800 Taxes-Employer Payroll 709.26 1,899.00 (1,189.74) 2,755.34 5,451.00 (2,695.66) 6321880 Wages-Hourly 6,462.42 14,264.00 (7,801.58) 22,766.19 42,792.00 (20,025.81) 6321882 Wages-Overtime 2,808.59 988.00 1,820.59 8,376.14 988.00 7,388.14 Total-CM-LM-SALARIES & BENEFITS 10,392.03 19,294.00 (8,901.97) 37,876.80 55,470.00 (17,593.20) 632-CM-LM-SUPPLIES & MATERIALS 6323778 Small Tools 651.79 150.00 501.79 400.44 300.00 100.44 6323788 Uniforms 221.17 225.00 (3.83) 669.54 675.00 (5.46) Total-CM-LM-SUPPLIES & MATERIALS 872.96 375.00 497.96 1,069.98 975.00 94.98 632-CM-LM-REPAIRS & MAINTENANCE 6325687 CM-LM-R&M-Drip Irrigation 2,065.99 500.00 1,565.99 2,788.68 1,000.00 1,788.68 Total-CM-LM-REPAIRS & MAINTENANCE 2,065.99 500.00 1,565.99 2,788.68 1,000.00 1,788.68 632-CM-WATER & ENERGY 6337834 Utilities-Electricity-Pumping - 13,275.00 (13,275.00) 237.50 60,685.00 (60,447.50) 6337842 Utilities-Water 2,417.16 620.00 1,797.16 5,308.14 4,185.00 1,123.14 Total-CM-WATER & ENERGY 2,417.16 13,895.00 (11,477.84) 5,545.64 64,870.00 (59,324.36) Total -COURSE MAINTENANCE 143,235.31 139,830.00 3,405.31 449,101.20 419,498.00 29,603.20 Month to Date Year to Date Silverrock Resort Course Maintenance Expense Statement September 2005 6 SilverRock Resort Outside Services Expense Statement September 2005 Month to Date Year to Date September Final Budget Variance Final Budget Variance Expense 641-CBR-SALARIES & BENEFITS 6411175 Employee Meals 522.66 360.00 162.66 1,567.98 1,080.00 487.98 6411320 Insurance-Group 285.21 720.00 (434.79) (263.94) 2,160.00 (2,423.94) 6411325 Insurance-Workers Comp 417.78 1,119.00 (701.22) 1,464.48 3,357.00 (1,892.52) 6411800 Taxes-Employer Payroll 765.82 970.00 (204.18) 2,641.85 2,910.00 (268.15) 6411880 Wages-Hourly 6,943.38 7,793.00 (849.62) 22,772.96 23,379.00 (606.04) 6411882 Wages-Overtime 275.89 - 275.89 663.16 - 663.16 Total-CBR-SALARIES & BENEFITS 9,210.74 10,962.00 (1,751.26) 28,846.49 32,886.00 (4,039.51) 641-CBR-SUPPLIES & MATERIALS 6413732 Supplies-Carts - - - 176.29 - 176.29 6413742 Supplies-Expendable 142.84 150.00 (7.16) 1,529.22 450.00 1,079.22 6413762 Supplies-Office 64.64 50.00 14.64 64.64 150.00 (85.36) 6413786 Supplies-Towels 728.16 72.00 656.16 728.16 216.00 512.16 6413796 Supplies-Bottled Water 3,411.96 1,620.00 1,791.96 6,742.12 4,800.00 1,942.12 Total-CBR-SUPPLIES & MATERIALS 4,347.60 1,892.00 2,455.60 9,240.43 5,616.00 3,624.43 641-CBR-REPAIRS & MAINTENANCE 6415096 CBR-R&M-Contract Services-Carts 720.00 720.00 - - 2,160.00 (2,160.00) 6415690 CBR-R&M-Equipment - 125.00 (125.00) 36.00 375.00 (339.00) 6415695 CBR-R&M-Cart Maintenance & Repair - 150.00 (150.00) 54.60 450.00 (395.40) Total-CBR-REPAIRS & MAINTENANCE 720.00 995.00 (275.00) 90.60 2,985.00 (2,894.40) 641-CBR-OTHER EXPENSES 6419093 Contract Services-Handicaps (60.00) 100.00 (160.00) 200.00 300.00 (100.00) 6419094 Contract Services-Laundry/Linen - 55.00 (55.00) 1,400.40 165.00 1,235.40 6419220 Freight/Delivery - 25.00 (25.00) - 75.00 (75.00) 6419490 Miscellaneous - 125.00 (125.00) 67.26 375.00 (307.74) 6419820 Uniforms - - - 511.85 - 511.85 Total-CBR-OTHER EXPENSES (60.00) 305.00 (365.00) 2,179.51 915.00 1,264.51 TOTAL-CARTS,BAGROOM & RANGE 14,218.34 14,154.00 64.34 40,357.03 42,402.00 (2,044.97) 643-CS-SALARIES & BENEFITS 6431175 Employee Meals 261.33 180.00 81.33 783.99 540.00 243.99 6431320 Insurance-Group - 600.00 (600.00) 958.00 1,800.00 (842.00) 6431325 Insurance-Workers Comp 161.77 722.00 (560.23) 427.20 2,166.00 (1,738.80) 6431800 Taxes-Employer Payroll 233.98 626.00 (392.02) 722.64 1,878.00 (1,155.36) 6431880 Wages-Hourly 2,017.75 5,027.00 (3,009.25) 6,424.25 15,081.00 (8,656.75) 6431882 Wages-Overtime 78.75 - 78.75 152.27 - 152.27 Total-CS-SALARIES & BENEFITS 2,753.58 7,155.00 (4,401.42) 9,468.35 21,465.00 (11,996.65) 643-CS-OTHER EXPENSES 6433742 Supplies Expendable - 100.00 (100.00) 234.64 200.00 34.64 6439490 Miscellaneous - 50.00 (50.00) - 100.00 (100.00) 6439718 Safety Equipment & Training - 100.00 (100.00) - 300.00 (300.00) 6439820 Uniforms - 75.00 (75.00) - 225.00 (225.00) Total-CS-OTHER EXPENSES - 325.00 (325.00) 234.64 825.00 (590.36) Total-COURSE SERVICES 2,753.58 7,480.00 (4,726.42) 9,702.99 22,290.00 (12,587.01) TOTAL OUTSIDE SERVICES 16,971.92 21,634.00 (4,662.08) 50,060.02 64,692.00 (14,631.98) 7 SilverRock Resort Clubhouse Expense Statement September 2005 Month to Date Year to Date September Finals Budget Variance Final Budget Variance Expense 65-CH-SUPPLIES & MATERIALS 6503742 Supplies-Expendable 667.90 300.00 367.90 1,541.22 900.00 641.22 Total-CH-SUPPLIES & MATERIALS 667.90 300.00 367.90 1,541.22 900.00 641.22 65-CH-UTILITIES 6507830 Utilities-Electric-Bldgs - 3,168.00 (3,168.00) - 11,767.00 (11,767.00) 6507836 Utilities-Natural Gas 28.95 200.00 (171.05) 28.95 600.00 (571.05) 6507838 Utilities-Sewer - 200.00 (200.00) - 600.00 (600.00) 6507840 Utilities-Telephone 1,031.38 1,000.00 31.38 2,977.72 3,000.00 (22.28) 6507842 Utilities-Water 291.23 200.00 91.23 409.84 600.00 (190.16) Total-CH-UTILITIES 1,351.56 4,768.00 (3,416.44) 3,416.51 16,567.00 (13,150.49) 65-CH-OTHER EXPENSES 6509091 Contract Services-Cleaning 1,750.00 1,750.00 - 5,250.00 5,250.00 - 6509098 Contract Services-Refuse Dispose 693.14 300.00 393.14 1,193.82 900.00 293.82 6509099 Contract Services-Security 6,701.72 8,250.00 (1,548.28) 15,317.38 24,750.00 (9,432.62) 6509215 Flowers & Decorations - 100.00 (100.00) - 300.00 (300.00) 6509490 Miscellaneous 215.10 - 215.10 340.05 - 340.05 6509718 Safety Equipment & Training - 100.00 (100.00) 250.00 300.00 (50.00) Total-CH-OTHER EXPENSES 9,359.96 10,500.00 (1,140.04) 22,351.25 31,500.00 (9,148.75) 65-CH-REPAIRS & MAINTENANCE 6515685 CH-R&M-Building Structures - 250.00 (250.00) - 750.00 (750.00) 6515686 CH-R&M-Restaurant Repairs - 250.00 (250.00) - 750.00 (750.00) 6515690 CH-R&M-Equipment Repair 373.11 250.00 123.11 58.07 750.00 (691.93) Total-CH-REPAIRS & MAINTENANCE 373.11 750.00 (376.89) 58.07 2,250.00 (2,191.93) Total CLUBHOUSE 11,752.53 16,318.00 (4,565.47) 27,367.05 51,217.00 (23,849.95) 8 SilverRock Resort Marketing Expense Statement September 2005 Month to Date Year to Date September Finals Budget Variance Final Budget Variance Expense 66-MKT-SALARIES & BENEFITS 6601175 Employee Meals 87.11 60.00 27.11 261.33 180.00 81.33 6601320 Insurance-Group - 360.00 (360.00) - 1,080.00 (1,080.00) 6601325 Insurance-Workers Comp 191.15 431.00 (239.85) 641.75 1,293.00 (651.25) 6601720 Salaries 2,692.55 3,000.00 (307.45) 9,423.30 9,000.00 423.30 6601800 Taxes-Employer Payroll 205.98 374.00 (168.02) 720.90 1,122.00 (401.10) Total-MKT-SALARIES & BENEFITS 3,176.79 4,225.00 (1,048.21) 11,047.28 12,675.00 (1,627.72) 66-MKT-SUPPLIES & MATERIALS 66-03080 Collateral Material - - - 412.68 - 412.68 6603762 Supplies-Office 101.42 100.00 1.42 101.42 300.00 (198.58) 6603768 Supplies-Printing & Stationery - 200.00 (200.00) 290.22 200.00 90.22 101.42 300.00 (198.58) 804.32 500.00 304.32 66-MKT-UTILITIES 6607840 Utilities-Telephone 128.51 100.00 28.51 368.72 300.00 68.72 Total-MKT-UTILITIES 128.51 100.00 28.51 368.72 300.00 68.72 66-MKT-OTHER EXPENSES 6609010 Advertising 1,094.33 7,667.00 (6,572.67) 12,748.94 18,001.00 (5,252.06) 6609040 Business Meals - 100.00 (100.00) - 300.00 (300.00) 6609080 Collateral Material 412.68 1,500.00 (1,087.32) - 4,500.00 (4,500.00) 6609102 Contract Services-Web Page 99.00 150.00 (51.00) 796.00 450.00 346.00 6609620 Postage - 100.00 (100.00) - 300.00 (300.00) 6609630 Promotion - 1,000.00 (1,000.00) - 2,000.00 (2,000.00) 6609633 Promotion-Community 60.00 75.00 (15.00) 661.00 225.00 436.00 6609820 Uniforms - - - 8.25 - 8.25 Total-MKT-OTHER EXPENSES 1,666.01 10,592.00 (8,925.99) 14,214.19 25,776.00 (11,561.81) Total-MARKETING 5,072.73 15,217.00 (10,144.27) 26,434.51 39,251.00 (12,816.49) 9 SilverRock Resort General & Administrative Expense Statement September 2005 Month to Date Year to Date September Finals Budget Variance Final Budget Variance Expense 67-G&A-SALARIES & BENEFITS 6701175 Employee Meals 295.08 180.00 115.08 817.74 540.00 277.74 6701320 Insurance-Group 2,055.25 2,280.00 (224.75) 7,606.09 4,440.00 3,166.09 6701325 Insurance-Workers Comp 980.64 2,252.00 (1,271.36) 2,439.02 6,756.00 (4,316.98) 6701720 Salaries 10,669.43 13,083.00 (2,413.57) 38,746.38 39,249.00 (502.62) 6701800 Taxes-Employer Payroll 1,070.90 1,953.00 (882.10) 3,725.02 5,859.00 (2,133.98) 6701880 Wages-Hourly 2,877.94 2,600.00 277.94 8,641.90 7,800.00 841.90 6701882 Wages-Overtime 1,175.82 - 1,175.82 2,029.54 - 2,029.54 Total-G&A-SALARIES & BENEFITS 19,125.06 22,348.00 (3,222.94) 64,005.69 64,644.00 (638.31) 67-G&A-SUPPLIES & MATERIALS 6703740 Supplies-Computer - 200.00 (200.00) - 600.00 (600.00) 6703762 Supplies-Office 292.12 100.00 192.12 607.73 300.00 307.73 6703768 Supplies-Printing & Stationery 362.64 100.00 262.64 536.79 200.00 336.79 6703778 Supplies-Small Tools/Non-Capital 685.05 100.00 585.05 685.05 100.00 585.05 Total-G&A-SUPPLIES & MATERIALS 1,339.81 500.00 839.81 1,829.57 1,200.00 629.57 67-G&A-REPAIRS & MAINTENANCE 6705690 Repairs & Maintenance-Equipment - 100.00 (100.00) - 300.00 (300.00) Total-G&A-REPAIRS & MAINTENANCE - 100.00 (100.00) - 300.00 (300.00) 67-G&A-OTHER EXPENSES 6709020 Auto/Mileage Allowance 400.00 400.00 - 1,200.00 1,200.00 - 6709150 Dues & Subscriptions - 250.00 (250.00) - 350.00 (350.00) 6709180 Employee Recruiting/Relocation 930.84 500.00 430.84 1,436.92 500.00 936.92 6709197 Equipment Rental 750.35 200.00 550.35 2,332.83 600.00 1,732.83 6709202 Fees-Bank 20.00 150.00 (130.00) 93.00 900.00 (807.00) 6709208 Fees-Payroll Processing 676.42 150.00 526.42 1,520.53 - 1,520.53 6709220 Freight/Delivery 86.10 50.00 36.10 213.35 150.00 63.35 6709490 Miscellaneous 150.00 100.00 50.00 170.90 300.00 (129.10) 6709620 Postage/Mail Services 236.00 100.00 136.00 236.00 200.00 36.00 6709625 Professional Fees - 500.00 (500.00) 340.00 1,500.00 (1,160.00) 6709636 Promotion/Entertainment 83.58 100.00 (16.42) 83.58 300.00 (216.42) 6709722 Seminars & Training 20.00 100.00 (80.00) 20.00 300.00 (280.00) 6709810 Travel 10.00 - 10.00 10.00 - 10.00 6709820 Uniforms - 100.00 (100.00) - 300.00 (300.00) Total-G&A-OTHER EXPENSES 3,363.29 2,700.00 663.29 7,657.11 6,600.00 1,057.11 Total-GENERAL & ADMINISTRATIVE 23,828.16 25,648.00 (1,819.84) 73,492.37 72,744.00 748.37 10 SilverRock Resort Operating Leases & Miscellaneous Other Expense Statement September 2005 Month to Date Year to Date September Finals Budget Variance Final Budget Variance Expense 68-LEASES 6800192 Equipment Leases-Carts 6,969.38 8,050.00 (1,080.62) 28,181.78 24,150.00 4,031.78 6800193 Equipment Leases-Course Maint 15,811.61 17,250.00 (1,438.39) 47,434.84 51,750.00 (4,315.16) 6800194 Equipment Leases-Trailer 310.41 850.00 (539.59) 310.41 2,550.00 (2,239.59) 6800195 Equipment Leases-Software 2,745.86 1,375.00 1,370.86 4,118.79 4,125.00 (6.21) 6800196 Equipment Leases-GPS 5,625.00 - 5,625.00 5,625.00 - 5,625.00 Total-LEASES 31,462.26 27,525.00 3,937.26 85,670.82 82,575.00 3,095.82 69-MISC OTHER EXPENSES 6900096 Contract Srvcs-Management Fee 7,500.00 12,461.00 (4,961.00) 22,500.00 27,461.00 (4,961.00) 6900098 Contract Srvcs-Management Fee-F&B 8,363.31 - 8,363.31 30,328.86 10,239.00 20,089.86 6900210 FF&E Reserve 2,540.86 3,128.00 (587.14) 3,450.36 9,270.00 (5,819.64) 6900323 Insurance-Commercial - 5,000.00 (5,000.00) 103.23 15,000.00 (14,896.77) Total-MISC OTHER EXPENSES 18,404.17 20,589.00 (2,184.83) 56,382.45 61,970.00 (5,587.55) 11 SilverRock Resort Special Projects September 2005 Month to Date Year to Date September Finals Budget Variance Final Budget Variance Drainage Expenses 635-SP-SALARIES & BENEFITS 6351720 Salaries - - - 2,595.60 - 2,595.60 6351880 Wages-Hourly 648.16 - 648.16 2,072.16 - 2,072.16 6351882 Wages-Overtime 229.89 - 229.89 384.09 - 384.09 Total-SP-SALARIES & BENEFITS 878.05 - 878.05 5,051.85 - 5,051.85 635-SP-EXPENSES 6353744 Fertilizer 2,355.81 - 2,355.81 2,355.81 - 2,355.81 6353758 Miscellaneous Supplies 65.64 - 65.64 65.64 - 65.64 6359625 Professional Fees-Management - - - 2,641.85 2,910.00 (268.15) 6359650 Drainage-Mobilization/General Cond - 18,500.00 (18,500.00) 18,500.00 37,000.00 (18,500.00) 6359675 Drainage-Site Supervision - 5,000.00 (5,000.00) 2,500.00 7,500.00 (5,000.00) 6353780 Sod 1,694.34 - 1,694.34 1,694.34 - (1,694.34) 6355686 Drainage-Drainage 17,596.24 66,428.50 (48,832.26) 77,608.47 122,137.00 (44,528.53) 6355692 Drainage-Irrigation - - - 535.81 - 535.81 6359700 Drainage-Site Cleanup & Repair - 4,500.00 (4,500.00) 1,500.00 6,000.00 (4,500.00) Total SP-EXPENSES 21,712.03 94,428.50 (72,716.47) 107,401.92 175,547.00 (71,533.76) Total - SPECIAL PROJECTS-Drainage 22,590.08 94,428.50 (71,838.42) 112,453.77 175,547.00 (63,093.23) Landscape Expense 637-SP-SALARIES & BENEFITS 6371320 Insurance-Group - 6371880 Wages-Hourly 8,068.03 - 8,068.03 3,083.88 - 3,083.88 6371882 Wages-Overtime 3,561.55 - 3,561.55 780.23 - 780.23 Total-SP-SALARIES & BENEFITS 11,629.58 - 11,629.58 3,864.11 - 3,864.11 637-SP EXPENSES 6373734 Chemicals 5,258.42 - 5,258.42 5,258.42 8,640.00 (3,381.58) 6373744 Fertilizer 2,241.26 - 2,241.26 2,241.26 - 2,241.26 6373746 Flowers/Plants 10,745.44 - 10,745.44 10,745.44 - 10,745.44 6373750 Golf Course Accessories 1,519.39 - 1,519.39 1,519.39 - 1,519.39 6373766 Pesticides 10,869.21 - 10,869.21 10,869.21 - 10,869.21 6373778 Small Tools & Non-Capital 4,350.59 - 4,350.59 4,350.59 - 4,350.59 6375687 CM-SP-R&M-Drip Irrigation 2,886.57 - 2,886.57 2,886.57 - 2,886.57 6373780 Sod 34,561.53 - 34,561.53 - - - Total SP-EXPENSES 72,432.41 - 72,432.41 37,870.88 8,640.00 29,230.88 Total - SPECIAL PROJECTS-Landscape 84,061.99 - 84,061.99 41,734.99 8,640.00 33,094.99 Sod Expense 639-SP-SALARIES & BENEFITS 6391880 Wages-Hourly - - - 1,644.00 - 1,644.00 6391882 Wages-Overtime - - - 461.78 - 461.78 Total-CM-SALARIES & BENEFITS - - - 2,105.78 - 2,105.78 639-SP-EXPENSES 6393780 Sod 40,294.82 25,000.00 15,294.82 75,676.65 26,500.00 49,176.65 Total SP-EXPENSES 40,294.82 25,000.00 15,294.82 75,676.65 26,500.00 49,176.65 12 Total - SPECIAL PROJECTS - Sod 40,294.82 25,000.00 15,294.82 77,782.43 26,500.00 51,282.43 69-SP-CONTRACT SVCS 6900097 Contract Srvcs-Management Fee-Golf 4,462.50 4,666.66 (204.16) 15,225.00 14,000.00 1,225.00 Total SP-Contract Services 4,462.50 4,666.66 (204.16) 15,225.00 14,000.00 1,225.00 TOTAL-SPECIAL PROJECTS 151,409.39 124,095.16 27,314.23 247,196.19 224,687.00 22,509.19 13