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05 November 2005 SilverRock Resort - Monthly Financial Statement Monthly Financial Statements July 2005 – November 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 & Miscellaneous Expense Statement 11 Special Projects 12 November Finals Budget Variance Final Budget Variance Income 400000 Revenue-Fees 130,512.00 155,561.00 (25,049.00) 452,992.55 652,634.00 (199,641.45) 410000 Revenue-Golf Shop 14,890.25 13,162.00 1,728.25 59,558.67 73,128.00 (13,569.33) 420000 Revenue-F&B Concession 1,500.00 1,500.00 - 3,000.00 4,500.00 (1,500.00) 890000 Interest Income - - - 37.96 - 37.96 Total Income 146,902.25 170,223.00 (23,320.75) 515,589.18 730,262.00 (214,672.82) Cost of Goods Sold 510000 COS-Golf Shop 8,857.18 7,842.02 1,015.16 38,745.51 43,570.97 (4,825.46) Total COS 8,857.18 7,842.02 1,015.16 38,745.51 43,570.97 (4,825.46) Gross Profit 138,045.07 162,380.98 (24,335.91) 476,843.67 686,691.03 (209,847.36) 610000 Golf Pro Shop 10,179.98 17,721.00 (7,541.02) 60,625.60 80,379.00 (19,753.40) 630000 Course Maintenance 154,417.47 147,968.00 6,449.47 795,587.17 830,349.00 (34,761.83) 640000 Outside Services 7,790.51 25,285.00 (17,494.49) 78,602.60 119,253.00 (40,650.40) 650000 Clubhouse 13,200.58 15,865.00 (2,664.42) 57,994.85 83,347.00 (25,352.15) 660000 Marketing 18,620.38 26,742.00 (8,121.62) 65,147.17 91,885.00 (26,737.83) 670000 General & Administrative 25,477.52 26,648.00 (1,170.48) 123,039.46 126,040.00 (3,000.54) 680000 Leases 29,016.09 34,955.33 (5,939.24) 147,497.01 152,485.66 (4,988.65) 690000 Miscellaneous Other Expense 42,668.09 19,248.00 23,420.09 37,500.00 66,870.00 (29,370.00) Total Expenses 301,370.62 314,432.33 (5,520.69) 1,365,993.86 1,550,608.66 (184,614.80) Net Income (163,325.55) (152,051.35) (18,815.22) (889,150.19) (863,917.63) (25,232.56) Rounds of Golf Played October Rounds 1,837 2,000 (163) 8,450 11,116 (2,666) Ave $ Per Round Green Fee 71.05 77.78 (6.73) 53.61 58.71 (5.10) Ave $ Per Round Merchandise 8.11 6.58 1.52 7.05 6.58 0.47 SilverRock Resort Summary Operating Income Statement November 2005 Month to Date Year to Date 1 ACTUAL BUDGET VARIANCE SALES AND COST OF SALES Revenue Fees 130,512.00$ 155,561.00$ (25,049.00)$ (To Include; Driving Range, Club Rental, Handicap Fees) Unfavorable variance: Green fee revenues were down due to: Course closure for an additional week longer than anticipated. The course is still in a state of construction (drainage improvements, sod replacement, & native area cleanup). Golf Pro Shop 10,179.98$ 17,721.00$ (7,541.02)$ Favorable variance: Reduced payroll due to course closure. Outside Services 7,790.51$ 25,285.00$ (17,494.49)$ Favorable variance: Reduced payroll due to course closure for the additional week. Marketing / Advertising 18,620.38$ 26,742.00$ (8,121.62)$ Favorable variance: No collateral material expense and minimal promotionals due to closure. Misc Other Expenses 42,668.09$ 27,649.00$ 15,019.09$ Unfavorable variance: Due to annual insurance payment. Leases 29,016.09$ 34,955.33$ (5,939.24)$ Favorable variance: Due to non-receipt of invoice for payment of GPS Equipment. SilverRock Resort Variance Explanations November 2005 2 Income November Finals Budget Variance Final Budget Variance 4000000 Revenue-Fees 126,611.00 152,161.00 (25,550.00) 442,160.55 641,354.00 (199,193.45) 4010000 Rider Fee 225.00 - 225.00 650.00 - 650.00 4040000 Club Rental 1,465.00 300.00 1,165.00 3,460.00 1,667.00 1,793.00 4050000 Driving Range 1,651.00 1,100.00 551.00 5,842.00 6,113.00 (271.00) 4060000 Handicap Fees 560.00 2,000.00 (1,440.00) 880.00 3,500.00 (2,620.00) Total Revenue Fees 130,512.00 155,561.00 (25,049.00) 452,992.55 652,634.00 (199,641.45) Total Income 130,512.00 155,561.00 (25,049.00) 452,992.55 652,634.00 (199,641.45) SilverRock Resort Statement of Fees Revenue November 2005 Month to Date Year to Date 3 SilverRock Resort Golf Shop Income Statement November 2005 Month to Date Year to Date Income November Finals Budget Variance Final Budget Variance 4100000 Sales Miscellaneous 194.46 - 194.46 684.20 - 684.20 4100110 Sales Hard Goods 4,600.74 5,202.00 (601.26) 20,869.03 28,903.50 (8,034.47) 4100112 Sales-Soft Goods 12,632.57 7,803.00 4,829.57 51,179.00 43,353.50 7,825.50 5100639 GS-Discounts-Mdse (2,537.52) 157.00 (2,694.52) (13,173.56) 871.00 (14,044.56) Total Revenue Golf Shop 14,890.25 13,162.00 1,728.25 59,558.67 73,128.00 (13,569.33) COS 5100150 COS-GS-Hard Goods 2,414.25 3,136.81 (722.56) 14,096.41 17,428.81 (3,332.40) 5100151 COS-GS-Soft Goods 6,442.93 4,705.21 1,737.72 24,649.10 26,142.16 (1,493.06) Cost of Sales - Golf Shop 8,857.18 7,842.02 1,015.16 38,745.51 43,570.97 (4,825.46) Gross Profit 6,033.07 5,319.98 2,743.41 20,813.16 29,557.03 (8,743.87) COS %59.5%59.6%58.7%65.1%59.6%35.6% Expense 61-PS-SALARIES & BENEFITS 6101175 Employee Meals 237.74 300.00 (62.26) 1,769.73 1,260.00 509.73 6101320 Insurance Group 1,328.00 2,640.00 (1,312.00) 7,248.01 9,600.00 (2,351.99) 6101325 Insurance-Workers Comp 500.07 1,510.00 (1,009.93) 2,494.30 6,954.00 (4,459.70) 6101720 Salaries 2,231.68 3,333.00 (1,101.32) 12,162.80 16,665.00 (4,502.20) 6101800 Taxes-Employer Payroll 639.34 1,310.00 (670.66) 3,124.38 6,030.00 (2,905.62) 6101880 Wages-Hourly 3,966.26 7,185.00 (3,218.74) 21,691.75 31,765.00 (10,073.25) 6101882 Wages-Overtime 142.50 - 142.50 952.88 - 952.88 Total -PS-SALARIES & BENEFITS 9,045.59 16,278.00 (7,232.41) 49,443.85 72,274.00 (22,830.15) 61-PS-SUPPLIES & MATERIALS 6103742 Supplies-Expendable 19.21 500.00 (480.79) 1,291.16 2,100.00 (808.84) Total PS-SUPPLIES & MATERIALS 19.21 500.00 (480.79) 1,291.16 2,100.00 (808.84) 61-PS OTHER EXPENSES 6103762 Supplies-Office 370.15 50.00 320.15 1,407.08 550.00 857.08 6109090 Contract Services - 500.00 (500.00) 2,500.00 2,500.00 - 6109197 Equipment Rental - - - 2,253.70 - 2,253.70 6109220 Freight & Delivery - 143.00 (143.00) 183.28 705.00 (521.72) 6109490 Miscellaneous - 50.00 (50.00) 57.03 100.00 (42.97) 6109500 ProShop-Over/Short (0.53) - (0.53) (9.58) - (9.58) 6109722 Seminars/Training - 100.00 (100.00) 2,228.59 1,650.00 578.59 6109810 Travel - Merchandise - - - 48.00 - 48.00 6109820 Uniforms 745.56 100.00 645.56 745.56 500.00 245.56 6117840 Telephones - - - 476.93 - 476.93 Total PS-OTHER EXPENSES 1,115.18 943.00 172.18 9,890.59 6,005.00 3,885.59 Total Expenses 10,179.98 17,721.00 (7,541.02) 60,625.60 80,379.00 (19,753.40) Net Income (4,146.91) (12,401.02) 10,284.43 (39,812.44) (50,821.97) 11,009.53 4 November Finals Budget Variance Final Budget Variance Expense 63-CM-SALARIES & BENEFITS 6311175 Employee Meals 63.91 240.00 (176.09)983.25 1,200.00 (216.75) 6311320 Insurance-Group 10,826.00 5,880.00 4,946.00 53,143.34 29,400.00 23,743.34 6311325 Insurance-Workers Comp 4,250.36 8,754.00 (4,503.64) 23,439.42 43,772.00 (20,332.58) 6311720 Salaries 12,052.04 12,081.00 (28.96) 57,219.25 60,405.00 (3,185.75) 6311800 Taxes-Employer Payroll 5,740.77 7,705.00 (1,964.23) 28,050.94 38,525.00 (10,474.06) 6311880 Wages-Hourly 45,989.29 47,037.00 (1,047.71) 208,708.43 235,186.00 (26,477.57) 6311882 Wages-Overtime 22,667.17 2,769.00 19,898.17 72,856.19 13,846.00 59,010.19 Total-CM-SALARIES & BENEFITS 101,589.54 84,466.00 17,123.54 444,400.82 422,334.00 22,066.82 63-CM-SUPPLIES & MATERIALS 6313734 Chemicals 8.00 - 8.00 5,730.14 - 5,730.14 6313744 Fertilizer 426.86 6,000.00 (5,573.14) 34,870.82 23,500.00 11,370.82 6313746 Flowers/Plants - - - 40.63 1,600.00 (1,559.37) 6313748 Fuel-Gasoline - 1,600.00 (1,600.00) 19,986.52 8,500.00 11,486.52 6313750 Golf Course Accessories 1,895.17 250.00 1,645.17 4,208.32 2,650.00 1,558.32 6313756 Supplies-Lubricants & Oils 464.87 - 464.87 1,428.08 - 1,428.08 6313758 Miscellaneous Supp - 50.00 (50.00) 4,907.13 250.00 4,657.13 6313762 Supplies-Office 371.76 - 371.76 1,953.36 - 1,953.36 6313766 Pesticides 1,719.49 1,100.00 619.49 13,012.41 5,450.00 7,562.41 6313774 Sand 743.91 2,100.00 (1,356.09) 2,898.10 4,980.00 (2,081.90) 6313776 Seed 13,522.89 350.00 13,172.89 84,223.31 82,300.00 1,923.31 6313778 Small Tools & Non-Capital Equip (446.12) - (446.12) 6,627.01 5,900.00 727.01 6313780 Sod - 250.00 (250.00) 507.03 1,750.00 (1,242.97) 6313782 Topdressing - - - - 3,000.00 (3,000.00) Total-CM-SUPPLIES & MATERIALS 18,706.83 11,700.00 7,006.83 180,392.86 139,880.00 40,512.86 63-CM-REPAIRS & MAINTENANCE 6315095 CM-R&M-Contract Lake Maint - - - 11,037.74 4,500.00 6,537.74 6315685 CM-R&M-Bldngs & Othr Structures 124.38 - 124.38 4,223.51 - 4,223.51 6315686 CM-R&M- Drainage 1,103.37 - 1,103.37 - - - 6315690 CM-R&M-Equipment 2,885.42 2,500.00 385.42 20,858.19 9,500.00 11,358.19 6315692 CM-R&M-Irrigation System - 1,000.00 (1,000.00) 4,417.60 5,100.00 (682.40) 6315696 CM-R&M-Pumps - - - 2,439.82 2,000.00 439.82 6315815 CM-R&M-Trees-Pruning Etc - 1,000.00 (1,000.00) 4,000.00 4,000.00 - Total-CM-REPAIRS & MAINTENANCE 4,113.17 4,500.00 (386.83) 46,976.86 25,100.00 21,876.86 63-CM-UTILTIES 6317830 Utilities-Electricity-Bldngs - 2,070.00 (2,070.00) 366.91 11,178.00 (10,811.09) 6317840 Telephones 708.57 325.00 383.57 4,529.42 1,625.00 2,904.42 Total-CM-UTILITIES 708.57 2,395.00 (1,686.43) 4,896.33 12,803.00 (7,906.67) 63-CM-OTHER EXPENSES 6319000 CM-Other Expenses - - - - - - 6319020 Auto Mileage/Allowance 500.00 500.00 - 2,500.00 2,500.00 - 6319100 Contract Svcs-Soil/Tissue Test - - - - 2,000.00 (2,000.00) 6319101 Contract Svcs-Trash Removal 782.98 3,800.00 (3,017.02) 4,386.79 11,200.00 (6,813.21) 6319150 Dues & Subscriptions - 250.00 (250.00) 135.00 500.00 (365.00) 6319170 Employee Education - 150.00 (150.00) - 1,470.00 (1,470.00) 6319197 Equipment Rental 5,454.22 100.00 5,354.22 12,565.89 2,200.00 10,365.89 6319206 Licenses & Permits - - - 4.00 500.00 (496.00) 6319490 Miscellaneous 8,605.99 50.00 8,555.99 13,394.19 250.00 13,144.19 6319500 Propane/Natural Gas - 50.00 (50.00) - 250.00 (250.00) 6319718 Safety Equipment & Training 498.00 200.00 298.00 3,163.27 2,300.00 863.27 6319822 Uniforms 1,132.73 750.00 382.73 5,035.08 4,500.00 535.08 Total-CM-OTHER EXPENSES 16,973.92 5,850.00 11,123.92 41,184.22 27,670.00 13,514.22 Month to Date Year to Date SilverRock Resort Course Maintenance Expense Statement November 2005 November Final Budget Variance Final Budget Variance 632-CM-LANDSCAPE MAINTENANCE 632-CM-LM-SALARIES & BENEFITS 6321320 Insurance-Group 646.00 - 646.00 5,332.40 - 5,332.40 6321325 Insurance-Workers Comp 411.76 2,143.00 (1,731.24) 2,852.67 10,714.00 (7,861.33) 6321800 Taxes-Employer Payroll 694.93 1,899.00 (1,204.07) 4,043.39 9,495.00 (5,451.61) 6321880 Wages-Hourly 5,180.00 14,264.00 (9,084.00) 33,214.19 71,320.00 (38,105.81) 6321882 Wages-Overtime 3,903.78 988.00 2,915.78 14,765.05 4,939.00 9,826.05 Total-CM-LM-SALARIES & BENEFITS 10,836.47 19,294.00 (9,103.53) 60,207.70 96,468.00 (36,260.30) 632-CM-LM-SUPPLIES & MATERIALS 6323778 Small Tools 55.21 75.00 (19.79) 965.78 450.00 515.78 6323788 Uniforms 457.00 225.00 232.00 1,895.68 1,125.00 770.68 Total-CM-LM-SUPPLIES & MATERIALS 512.21 300.00 212.21 2,861.46 1,575.00 1,286.46 632-CM-LM-REPAIRS & MAINTENANCE 6325687 CM-LM-R&M-Drip Irrigation 27.75 500.00 (472.25) 2,816.43 2,000.00 816.43 Total-CM-LM-REPAIRS & MAINTENANCE 27.75 500.00 (472.25) 2,816.43 2,000.00 816.43 632-CM-WATER & ENERGY 6337834 Utilities-Electricity-Pumping - 17,068.00 (17,068.00) 237.50 92,924.00 (92,686.50) 6337842 Utilities-Water 949.01 1,395.00 (445.99) 8,796.56 7,595.00 1,201.56 Total-CM-WATER & ENERGY 949.01 18,463.00 (17,513.99) 9,034.06 100,519.00 (91,484.94) Total -COURSE MAINTENANCE 154,417.47 147,468.00 6,949.47 792,770.74 828,349.00 (35,578.26) Month to Date Year to Date Silverrock Resort Course Maintenance Expense Statement November 2005 November Final Budget Variance Final Budget Variance 632-CM-LANDSCAPE MAINTENANCE 632-CM-LM-SALARIES & BENEFITS 6321320 Insurance-Group 646.00 - 646.00 5,332.40 - 5,332.40 6321325 Insurance-Workers Comp 411.76 2,143.00 (1,731.24) 2,852.67 10,714.00 (7,861.33) 6321800 Taxes-Employer Payroll 694.93 1,899.00 (1,204.07) 4,043.39 9,495.00 (5,451.61) 6321880 Wages-Hourly 5,180.00 14,264.00 (9,084.00) 33,214.19 71,320.00 (38,105.81) 6321882 Wages-Overtime 3,903.78 988.00 2,915.78 14,765.05 4,939.00 9,826.05 Total-CM-LM-SALARIES & BENEFITS 10,836.47 19,294.00 (9,103.53) 60,207.70 96,468.00 (36,260.30) 632-CM-LM-SUPPLIES & MATERIALS 6323778 Small Tools 55.21 75.00 (19.79) 965.78 450.00 515.78 6323788 Uniforms 457.00 225.00 232.00 1,895.68 1,125.00 770.68 Total-CM-LM-SUPPLIES & MATERIALS 512.21 300.00 212.21 2,861.46 1,575.00 1,286.46 632-CM-LM-REPAIRS & MAINTENANCE 6325687 CM-LM-R&M-Drip Irrigation 27.75 500.00 (472.25) 2,816.43 2,000.00 816.43 Total-CM-LM-REPAIRS & MAINTENANCE - 500.00 (472.25) 2,816.43 2,000.00 816.43 27.75 1,000.00 (972.25) 5,632.86 4,000.00 1,632.86 632-CM-WATER & ENERGY 6337834 Utilities-Electricity-Pumping - 17,068.00 (17,068.00) 237.50 92,924.00 (92,686.50) 6337842 Utilities-Water 949.01 1,395.00 (445.99) 8,796.56 7,595.00 1,201.56 Total-CM-WATER & ENERGY 949.01 18,463.00 (17,513.99) 9,034.06 100,519.00 (91,484.94) Total -COURSE MAINTENANCE 154,417.47 147,968.00 6,449.47 795,587.17 830,349.00 (34,761.83) Month to Date Year to Date Silverrock Resort Course Maintenance Expense Statement November 2005 6 SilverRock Resort Outside Services Expense Statement November 2005 Month to Date Year to Date November Finals Budget Variance Final Budget Variance Expense 641-CBR-SALARIES & BENEFITS 6411175 Employee Meals 181.96 540.00 (358.04) 2,272.60 1,980.00 292.60 6411320 Insurance-Group 275.00 1,080.00 (805.00) 300.27 3,960.00 (3,659.73) 6411325 Insurance-Workers Comp 427.99 843.00 (415.01) 2,310.25 4,825.00 (2,514.75) 6411800 Taxes-Employer Payroll 196.52 731.00 (534.48) 3,568.43 4,183.00 (614.57) 6411880 Wages-Hourly 1,940.38 5,870.00 (3,929.62) 31,061.35 33,604.00 (2,542.65) 6411882 Wages-Overtime 74.26 - 74.26 1,121.08 - 1,121.08 Total-CBR-SALARIES & BENEFITS 3,096.11 9,064.00 (5,967.89) 40,633.98 48,552.00 (7,918.02) 641-CBR-SUPPLIES & MATERIALS 6413732 Supplies-Carts 259.34 1,000.00 (740.66) 435.63 1,500.00 (1,064.37) 6413742 Supplies-Expendable 89.05 1,500.00 (1,410.95) 3,493.43 9,950.00 (6,456.57) 6413762 Supplies-Office - 100.00 (100.00) 64.64 350.00 (285.36) 6413786 Supplies-Towels 167.99 72.00 95.99 1,118.75 2,288.00 (1,169.25) 6413796 Supplies-Bottled Water 1,026.02 1,200.00 (173.98) 10,767.67 6,669.00 4,098.67 Total-CBR-SUPPLIES & MATERIALS 1,542.40 3,872.00 (2,329.60) 15,880.12 20,757.00 (4,876.88) 641-CBR-REPAIRS & MAINTENANCE 6415096 CBR-R&M-Contract Services-Carts - 720.00 (720.00) 1,440.00 3,600.00 (2,160.00) 6415690 CBR-R&M-Equipment 55.88 125.00 (69.12) 165.88 625.00 (459.12) 6415695 CBR-R&M-Cart Maintenance & Repair 34.72 150.00 (115.28) 368.41 750.00 (381.59) Total-CBR-REPAIRS & MAINTENANCE 90.60 995.00 (904.40) 1,974.29 4,975.00 (3,000.71) 641-CBR-OTHER EXPENSES 6419093 Contract Services-Handicaps - 500.00 (500.00) 280.00 1,300.00 (1,020.00) 6419094 Contract Services-Laundry/Linen 310.47 55.00 255.47 1,710.87 275.00 1,435.87 6419220 Freight/Delivery - 25.00 (25.00) - 125.00 (125.00) 6419490 Miscellaneous - 125.00 (125.00) 381.14 625.00 (243.86) 6419820 Uniforms 1,563.29 500.00 1,063.29 2,075.14 2,500.00 (424.86) Total-CBR-OTHER EXPENSES 1,873.76 1,205.00 668.76 4,447.15 4,825.00 (377.85) TOTAL-CARTS,BAGROOM & RANGE 6,602.87 15,136.00 (8,533.13) 62,935.54 79,109.00 (16,173.46) 643-CS-SALARIES & BENEFITS 6431175 Employee Meals 110.99 300.00 (189.01) 1,156.31 1,020.00 136.31 6431320 Insurance-Group - 600.00 (600.00) 958.00 3,000.00 (2,042.00) 6431325 Insurance-Workers Comp 161.77 1,011.00 (849.23) 750.74 3,899.00 (3,148.26) 6431800 Taxes-Employer Payroll 3.32 876.00 (872.68) 3,100.15 3,380.00 (279.85) 6431880 Wages-Hourly 28.00 7,037.00 (7,009.00) 8,323.75 27,145.00 (18,821.25) 6431882 Wages-Overtime - - - 259.91 - 259.91 Total-CS-SALARIES & BENEFITS 304.08 9,824.00 (9,519.92) 14,548.86 38,444.00 (23,895.14) 643-CS-OTHER EXPENSES 6433742 Supplies Expendable 236.94 100.00 136.94 471.58 400.00 71.58 6439490 Miscellaneous - 50.00 (50.00) - 200.00 (200.00) 6439718 Safety Equipment & Training - 100.00 (100.00) - 500.00 (500.00) 6439820 Uniforms 646.62 75.00 571.62 646.62 600.00 46.62 Total-CS-OTHER EXPENSES 883.56 325.00 558.56 1,118.20 1,700.00 (581.80) Total-COURSE SERVICES 1,187.64 10,149.00 (8,961.36) 15,667.06 40,144.00 (24,476.94) TOTAL OUTSIDE SERVICES 7,790.51 25,285.00 (17,494.49) 78,602.60 119,253.00 (40,650.40) 7 SilverRock Resort Clubhouse Expense Statement November 2005 Month to Date Year to Date November Finals Budget Variance Final Budget Variance Expense 65-CH-SUPPLIES & MATERIALS 6503742 Supplies-Expendable 1,091.18 300.00 791.18 3,132.63 1,500.00 1,632.63 Total-CH-SUPPLIES & MATERIALS 1,091.18 300.00 791.18 3,132.63 1,500.00 1,632.63 65-CH-UTILITIES 6507830 Utilities-Electric-Bldgs - 2,715.00 (2,715.00) - 17,197.00 (17,197.00) 6507836 Utilities-Natural Gas - 200.00 (200.00) 345.31 1,000.00 (654.69) 6507838 Utilities-Sewer - 200.00 (200.00) - 1,000.00 (1,000.00) 6507840 Utilities-Telephone 1,035.45 1,000.00 35.45 5,052.72 5,000.00 52.72 6507842 Utilities-Water 112.52 200.00 (87.48) 849.53 1,000.00 (150.47) 6507844 Utilities-Cable 317.67 - 612.96 - - - Total-CH-UTILITIES 1,147.97 4,315.00 (2,554.07) 6,247.56 25,197.00 (18,949.44) 65-CH-OTHER EXPENSES 6509091 Contract Services-Cleaning 1,750.00 1,750.00 - 8,750.00 8,750.00 - 6509098 Contract Services-Refuse Dispose 256.06 300.00 (43.94) 2,386.04 1,500.00 886.04 6509099 Contract Services-Security 7,627.26 8,250.00 (622.74) 34,675.59 41,250.00 (6,574.41) 6509215 Flowers & Decorations - 100.00 (100.00) - 500.00 (500.00) 6509490 Miscellaneous 636.81 - 636.81 1,235.46 - 1,235.46 6509718 Safety Equipment & Training - 100.00 (100.00) 250.00 900.00 (650.00) Total-CH-OTHER EXPENSES 10,270.13 10,500.00 (229.87) 47,297.09 52,900.00 (5,602.91) 65-CH-REPAIRS & MAINTENANCE 6515685 CH-R&M-Building Structures 477.38 250.00 227.38 730.54 1,250.00 (519.46) 6515686 CH-R&M-Restaurant Repairs - 250.00 (250.00) - 1,250.00 (1,250.00) 6515690 CH-R&M-Equipment Repair 213.92 250.00 (36.08) 587.03 1,250.00 (662.97) Total-CH-REPAIRS & MAINTENANCE 691.30 750.00 (58.70) 1,317.57 3,750.00 (2,432.43) Total CLUBHOUSE 13,200.58 15,865.00 (2,051.46) 57,994.85 83,347.00 (25,352.15) 8 SilverRock Resort Marketing Expense Statement November 2005 Month to Date Year to Date November Finals Budget Variance Final Budget Variance Expense 66-MKT-SALARIES & BENEFITS 6601175 Employee Meals 70.25 60.00 10.25 434.95 300.00 134.95 6601320 Insurance-Group - 360.00 (360.00) - 1,800.00 (1,800.00) 6601325 Insurance-Workers Comp 191.15 431.00 (239.85) 1,024.05 2,155.00 (1,130.95) 6601720 Salaries 2,692.30 3,000.00 (307.70) 14,842.90 15,000.00 (157.10) 6601800 Taxes-Employer Payroll 205.96 374.00 (168.04) 1,135.50 1,870.00 (734.50) Total-MKT-SALARIES & BENEFITS 3,159.66 4,225.00 (1,065.34) 17,437.40 21,125.00 (3,687.60) 66-MKT-SUPPLIES & MATERIALS 6603762 Supplies-Office 219.93 100.00 119.93 508.82 900.00 (391.18) 6603768 Supplies-Printing & Stationery - 200.00 (200.00) 351.80 5,400.00 (5,048.20) 219.93 300.00 (80.07) 860.62 6,300.00 (5,439.38) 66-MKT-UTILITIES 6607840 Utilities-Telephone - 100.00 (100.00) 476.79 500.00 (23.21) Total-MKT-UTILITIES - 100.00 (100.00) 476.79 500.00 (23.21) 66-MKT-OTHER EXPENSES 6609010 Advertising 15,077.79 14,167.00 910.79 43,827.18 39,835.00 3,992.18 6609040 Business Meals - 100.00 (100.00) - 500.00 (500.00) 6609080 Collateral Material - 5,000.00 (5,000.00) 412.68 14,500.00 (14,087.32) 6609102 Contract Services-Web Page 99.00 150.00 (51.00) 994.00 750.00 244.00 6609490 Miscellaneous - 50.00 (50.00) 100.00 100.00 - 6609620 Postage - 100.00 (100.00) - 500.00 (500.00) 6609630 Promotion - 1,000.00 (1,000.00) 200.00 4,000.00 (3,800.00) 6609633 Promotion-Community 64.00 1,500.00 (1,436.00) 811.00 3,225.00 (2,414.00) 6609634 Promotion-Media/Vendor - - - - - - 6609820 Uniforms - 50.00 (50.00) 27.50 550.00 (522.50) Total-MKT-OTHER EXPENSES 15,240.79 22,117.00 (6,876.21) 46,372.36 63,960.00 (17,587.64) Total-MARKETING 18,620.38 26,742.00 (8,121.62) 65,147.17 91,885.00 (26,737.83) 9 SilverRock Resort General & Administrative Expense Statement November 2005 Month to Date Year to Date November Finals Budget Variance Final Budget Variance Expense 67-G&A-SALARIES & BENEFITS 6701175 Employee Meals 113.63 180.00 (66.37) 1,208.97 900.00 308.97 6701320 Insurance-Group 2,124.00 3,480.00 (1,356.00) 11,787.34 11,400.00 387.34 6701325 Insurance-Workers Comp 1,031.89 2,252.00 (1,220.11) 4,451.55 11,260.00 (6,808.45) 6701720 Salaries 11,261.67 13,083.00 (1,821.33) 62,238.83 65,415.00 (3,176.17) 6701800 Taxes-Employer Payroll 1,332.06 1,953.00 (620.94) 6,588.45 9,765.00 (3,176.55) 6701880 Wages-Hourly 6,472.25 2,600.00 3,872.25 18,248.07 13,000.00 5,248.07 6701882 Wages-Overtime 313.88 - 313.88 2,814.25 - 2,814.25 Total-G&A-SALARIES & BENEFITS 22,649.38 23,548.00 (898.62) 107,337.46 111,740.00 (4,402.54) 67-G&A-SUPPLIES & MATERIALS 6703740 Supplies-Computer - 200.00 (200.00) - 1,000.00 (1,000.00) 6703762 Supplies-Office 163.68 100.00 63.68 866.18 500.00 366.18 6703768 Supplies-Printing & Stationery 100.40 100.00 0.40 887.19 400.00 487.19 6703778 Supplies-Small Tools/Non-Capital - 100.00 (100.00) 685.05 300.00 385.05 Total-G&A-SUPPLIES & MATERIALS 264.08 500.00 (235.92) 2,438.42 2,200.00 238.42 67-G&A-REPAIRS & MAINTENANCE 6705690 Repairs & Maintenance-Equipment - 100.00 (100.00) 595.00 500.00 95.00 Total-G&A-REPAIRS & MAINTENANCE - 100.00 (100.00) 595.00 500.00 95.00 67-G&A-OTHER EXPENSES 6709020 Auto/Mileage Allowance 400.00 400.00 - 2,066.31 2,000.00 66.31 6709150 Dues & Subscriptions - 50.00 (50.00) - 450.00 (450.00) 6709180 Employee Recruiting/Relocation 1,099.04 500.00 599.04 2,927.96 1,500.00 1,427.96 6709197 Equipment Rental 132.99 200.00 (67.01) 2,986.40 1,000.00 1,986.40 6709202 Fees-Bank 36.24 300.00 (263.76) 129.24 1,500.00 (1,370.76) 6709208 Fees-Payroll Processing 454.48 - 454.48 2,094.24 - 2,094.24 6709220 Freight/Delivery 441.31 50.00 391.31 862.00 250.00 612.00 6709490 Miscellaneous - 100.00 (100.00) 245.90 500.00 (254.10) 6709620 Postage/Mail Services - 100.00 (100.00) 320.00 400.00 (80.00) 6709625 Professional Fees - 500.00 (500.00) 340.00 2,500.00 (2,160.00) 6709636 Promotion/Entertainment - 100.00 (100.00) 83.58 500.00 (416.42) 6709722 Seminars & Training - 100.00 (100.00) 270.00 500.00 (230.00) 6709810 Travel - - - 342.95 - 342.95 6709820 Uniforms - 100.00 (100.00) - 500.00 (500.00) Total-G&A-OTHER EXPENSES 2,564.06 2,500.00 64.06 12,668.58 11,600.00 1,068.58 Total-GENERAL & ADMINISTRATIVE 25,477.52 26,648.00 (1,170.48) 123,039.46 126,040.00 (3,000.54) 10 SilverRock Resort Operating Leases & Miscellaneous Other Expense Statement November 2005 Month to Date Year to Date November Finals Budget Variance Final Budget Variance Expense 68-LEASES 6800192 Equipment Leases-Carts 8,020.85 8,050.00 (29.15) 43,500.09 40,250.00 3,250.09 6800193 Equipment Leases-Course Maint 19,109.28 17,250.00 1,859.28 82,355.73 86,250.00 (3,894.27) 6800194 Equipment Leases-Trailer 620.82 850.00 (229.18) 1,552.05 4,250.00 (2,697.95) 6800195 Equipment Leases-Software - 1,375.00 (1,375.00) 5,491.72 6,875.00 (1,383.28) 6800196 Equipment Leases-GPS 1,265.14 7,430.33 (6,165.19) 14,597.42 14,860.66 (263.24) Total-LEASES 29,016.09 34,955.33 (5,939.24) 147,497.01 152,485.66 (4,988.65) 69-MISC OTHER EXPENSES 6900096 Contract Srvcs-Management Fee 7,500.00 19,248.00 (11,748.00) 37,500.00 66,870.00 (29,370.00) 6900097 Contract Srvcs-Golf Ops-Management Fee 5,425.00 - 5,425.00 14,000.00 14,000.00 - 6900098 Contract Srvcs-Management Fee-F&B 4,439.67 - 4,439.67 39,975.17 10,239.00 29,736.17 6900210 FF&E Reserve 2,610.24 3,401.00 (790.76) 9,976.52 14,588.00 (4,611.48) 6900323 Insurance-Commercial 22,693.18 5,000.00 17,693.18 22,993.57 25,000.00 (2,006.43) Total-MISC OTHER EXPENSES 42,668.09 27,649.00 15,019.09 124,445.26 130,697.00 (6,251.74) 11 Special Projects Project Expense to Date SPECIAL PROJECTS (CURRENT)Actual Project Budget % of Project Drainage 326,966.16$ 332,000.00$ 98.48% Landscape 138,311.66$ 143,000.00$ 96.72% SOD 49,897.04$ 50,000.00$ 99.79% Landmark Contract Services 19,950.00$ 21,000.00$ 95.00% Total Special Projects 535,124.86$ 546,000.00$ 98.01% 12