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04 October 2005 SilverRock Resort - Monthly Financial Statement Monthly Financial Statements July 2005-October 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 October 2005 Month to Date Year to Date October Finals Budget Variance Final Budget Variance Income 400000 Revenue-Fees 61,518.81 87,091.00 (25,572.19) 322,480.55 497,073.00 (174,592.45) 410000 Revenue-Golf Shop 5,590.57 7,162.00 (1,571.43) 44,668.42 59,966.00 (15,297.58) 420000 Revenue-F&B Concession 1,500.00 1,500.00 - 3,000.00 3,000.00 - 890000 Interest Income (2.29) - (2.29) 37.96 - 37.96 Total Income 68,607.09 95,753.00 (27,145.91) 370,186.93 560,039.00 (189,852.07) Cost of Goods Sold 510000 COS-Golf Shop 3,933.82 4,371.15 (437.33) 29,888.33 35,728.95 (5,840.62) Total COS 3,933.82 4,371.15 (437.33) 29,888.33 35,728.95 (5,840.62) Gross Profit 64,673.27 91,381.85 (26,708.58) 340,298.60 524,310.05 (184,011.45) 610000 Golf Pro Shop 12,847.51 17,640.00 (4,792.49) 50,445.62 62,658.00 (12,212.38) 630000 Course Maintenance 203,956.54 258,383.00 (54,426.46) 635,456.64 677,881.00 (42,424.36) 640000 Outside Services 19,920.77 29,276.00 (9,355.23) 70,812.09 93,968.00 (23,155.91) 650000 Clubhouse 16,853.58 16,265.00 588.58 44,794.27 67,482.00 (22,687.73) 660000 Marketing 20,492.28 25,892.00 (5,399.72) 46,926.79 65,143.00 (18,216.21) 670000 General & Administrative 24,069.57 26,648.00 (2,578.43) 97,561.94 99,392.00 (1,830.06) 680000 Leases 32,499.69 34,955.33 (2,455.64) 118,480.92 117,530.33 950.59 690000 Miscellaneous Other Expense 19,878.86 20,161.00 (282.14) 30,000.00 47,622.00 (17,622.00) Total Expenses 350,518.80 429,220.33 (73,909.04) 1,094,478.27 1,231,676.33 (137,198.06) Net Income (285,845.53) (337,838.48) 47,200.46 (754,179.67) (707,366.28) (46,813.39) Rounds of Golf Played October Rounds 1,337 1,115 222 6,613 9,116 (2,503) Ave $ Per Round Green Fee 46.01 78.11 (32.10) 48.76 54.53 (5.76) Ave $ Per Round Merchandise 4.18 6.42 (2.24) 6.75 6.58 0.18 1 ACTUAL BUDGET VARIANCE SALES AND COST OF SALES Revenue Fees 61,518.81$ 87,091.00$ (25,572.19)$ (To Include; Driving Range, Club Rental, Handicap Fees) Unfavorable variance: Green fee revenues were down due to: Course closure from October 10 through end of month. The course is still in a state of construction (drainage improvements, sod replacement, & native area cleanup). A promotion was offered to lure additional customers, but lowered average rate resulted in green fees. Pro Shop Merchandise Sales 5,590.57$ 7,162.00$ (1,571.43)$ Pro Shop Cost of Sales 3,933.82$ 4,371.15$ (437.33)$ 70% 61% Unfavorable variance: Cost of Sales variance due to markdown prices to reduce summer apparel inventory for new seasonal inventory. Golf Pro Shop 12,847.51$ 17,640.00$ (4,792.49)$ Favorable variance: Reduced payroll due to course closure. Outside Services 19,920.77$ 29,276.00$ (9,355.23)$ Favorable variance: Course closure from October 10, reduced expenses and payroll due to course closure Marketing / Advertising 20,492.28$ 25,892.00$ (5,399.72)$ Favorable variance: No collateral material expense and minimal promotionals due to closure. Misc Other Expenses 19,878.86 27,078.00 (7,199.14)$ Favorable variance: Due to lower Food and Beverage loss and timing of insurance payments SilverRock Resort Variance Explanations October 2005 SilverRock Resort Statement of Fees Revenue October 2005 Month to Date Year to Date Income October Finals Budget Variance Final Budget Variance 4000000 Revenue-Fees 59,911.81 84,811.00 (24,899.19) 315,549.55 489,193.00 (173,643.45) 4010000 Rider Fee 200.00 - 200.00 425.00 - 425.00 4040000 Club Rental 630.00 167.00 463.00 1,995.00 1,367.00 628.00 4050000 Driving Range 777.00 613.00 164.00 4,191.00 5,013.00 (822.00) 4060000 Handicap Fees - 1,500.00 (1,500.00) 320.00 1,500.00 (1,180.00) Total Revenue Fees 61,518.81 87,091.00 (25,572.19) 322,480.55 497,073.00 (174,592.45) Total Income 61,518.81 87,091.00 (25,572.19) 322,480.55 497,073.00 (174,592.45) 3 SilverRock Resort Golf Shop Income Statement October 2005 Month to Date Year to Date Income October Finals Budget Variance Final Budget Variance 4100000 Sales Miscellaneous 113.00 - 113.00 489.74 - 489.74 4100110 Sales Hard Goods 3,328.86 2,900.00 428.86 16,268.29 23,701.50 (7,433.21) 4100112 Sales-Soft Goods 6,284.03 4,349.00 1,935.03 38,546.43 35,550.50 2,995.93 5100639 GS-Discounts-Mdse (4,135.32) (87.00) (4,048.32) (10,636.04) 714.00 (11,350.04) Total Revenue Golf Shop 5,590.57 7,162.00 (1,571.43) 44,668.42 59,966.00 (15,297.58) COS 5100150 COS-GS-Hard Goods 2,967.08 1,748.70 1,218.38 11,682.16 14,292.00 (2,609.84) 5100151 COS-GS-Soft Goods 966.74 2,622.45 (1,655.71) 18,206.17 21,436.95 (3,230.78) Cost of Sales - Golf Shop 3,933.82 4,371.15 (437.33) 29,888.33 35,728.95 (5,840.62) Gross Profit 1,656.75 2,790.85 (2,008.76) 14,780.09 24,237.05 (9,456.96) COS %70.4%61.0%27.8%66.9%59.6%38.2% Expense 61-PS-SALARIES & BENEFITS 6101175 Employee Meals 369.82 240.00 129.82 1,531.99 960.00 571.99 6101320 Insurance Group 1,354.52 2,640.00 (1,285.48) 5,920.01 6,960.00 (1,039.99) 6101325 Insurance-Workers Comp 469.34 1,361.00 (891.66) 1,994.23 5,444.00 (3,449.77) 6101720 Salaries 2,231.68 3,333.00 (1,101.32) 9,931.12 13,332.00 (3,400.88) 6101800 Taxes-Employer Payroll 654.37 1,180.00 (525.63) 2,485.04 4,720.00 (2,234.96) 6101880 Wages-Hourly 4,033.51 6,145.00 (2,111.49) 17,725.49 24,580.00 (6,854.51) 6101882 Wages-Overtime 456.00 - 456.00 810.38 - 810.38 Total -PS-SALARIES & BENEFITS 9,569.24 14,899.00 (5,329.76) 40,398.26 55,996.00 (15,597.74) 61-PS-SUPPLIES & MATERIALS 6103742 Supplies-Expendable 591.13 1,000.00 (408.87) 1,271.95 1,600.00 (328.05) Total PS-SUPPLIES & MATERIALS 591.13 1,000.00 (408.87) 1,271.95 1,600.00 (328.05) 61-PS OTHER EXPENSES 6103762 Supplies-Office - 500.00 (500.00) 1,036.93 500.00 536.93 6109090 Contract Services 1,000.00 500.00 500.00 2,500.00 2,000.00 500.00 6109197 Equipment Rental - - - 2,253.70 - 2,253.70 6109220 Freight & Delivery 22.64 91.00 (68.36) 183.28 562.00 (378.72) 6109490 Miscellaneous - 50.00 (50.00) 57.03 50.00 7.03 6109500 ProShop-Over/Short - - - (9.05) - (9.05) 6109722 Seminars/Training 1,550.00 500.00 1,050.00 2,228.59 1,550.00 678.59 6109810 Travel - Merchandise - - - 48.00 - 48.00 6109820 Uniforms - 100.00 (100.00) - 400.00 (400.00) 6117840 Telephones 114.50 - 114.50 476.93 - 476.93 Total PS-OTHER EXPENSES 2,687.14 1,741.00 946.14 8,775.41 5,062.00 3,713.41 Total Expenses 12,847.51 17,640.00 (4,792.49) 50,445.62 62,658.00 (12,212.38) Net Income (11,190.76) (14,849.15) 2,783.73 (35,665.53) (38,420.95) 2,755.42 4 October Finals Budget Variance Final Budget Variance Expense 63-CM-SALARIES & BENEFITS 6311175 Employee Meals 174.22 240.00 (65.78)919.34 960.00 (40.66) 6311320 Insurance-Group 10,533.34 5,880.00 4,653.34 42,317.34 23,520.00 18,797.34 6311325 Insurance-Workers Comp 4,043.12 10,120.00 (6,076.88) 19,189.06 35,018.00 (15,828.94) 6311720 Salaries 10,384.62 12,081.00 (1,696.38) 45,167.21 48,324.00 (3,156.79) 6311800 Taxes-Employer Payroll 2,721.77 9,119.00 (6,397.23) 22,310.17 30,820.00 (8,509.83) 6311880 Wages-Hourly 24,669.98 52,852.00 (28,182.02) 162,719.14 188,149.00 (25,429.86) 6311882 Wages-Overtime 5,840.66 8,308.00 (2,467.34) 50,189.02 11,077.00 39,112.02 Total-CM-SALARIES & BENEFITS 58,367.71 98,600.00 (40,232.29) 342,811.28 337,868.00 4,943.28 63-CM-SUPPLIES & MATERIALS 6313734 Chemicals 2,583.81 - 2,583.81 5,722.14 - 5,722.14 6313744 Fertilizer 19,344.23 10,500.00 8,844.23 34,443.96 17,500.00 16,943.96 6313746 Flowers/Plants - 1,000.00 (1,000.00) 40.63 1,600.00 (1,559.37) 6313748 Fuel-Gasoline 8,598.12 2,700.00 5,898.12 19,986.52 6,900.00 13,086.52 6313750 Golf Course Accessories 229.78 2,000.00 (1,770.22) 2,313.15 2,400.00 (86.85) 6313756 Supplies-Lubricants & Oils 528.71 - 528.71 963.21 - 963.21 6313758 Miscellaneous Supp 960.61 50.00 910.61 4,907.13 200.00 4,707.13 6313762 Supplies-Office 449.48 - 449.48 1,581.60 - 1,581.60 6313766 Pesticides 2,249.52 2,100.00 149.52 11,292.92 4,350.00 6,942.92 6313774 Sand 2,138.42 2,100.00 38.42 2,154.19 2,880.00 (725.81) 6313776 Seed 70,161.67 81,000.00 (10,838.33) 70,700.42 81,950.00 (11,249.58) 6313778 Small Tools & Non-Capital Equip 335.49 - 335.49 7,073.13 5,900.00 1,173.13 6313780 Sod - - - 507.03 1,500.00 (992.97) 6313782 Topdressing - 1,000.00 (1,000.00) - 3,000.00 (3,000.00) Total-CM-SUPPLIES & MATERIALS 107,579.84 102,450.00 5,129.84 161,686.03 128,180.00 33,506.03 63-CM-REPAIRS & MAINTENANCE 6315095 CM-R&M-Contract Lake Maint 7,027.17 - 7,027.17 11,037.74 4,500.00 6,537.74 6315685 CM-R&M-Bldngs & Othr Structures 690.89 - 690.89 4,099.13 - 4,099.13 6315690 CM-R&M-Equipment 7,516.56 3,500.00 4,016.56 17,972.77 7,000.00 10,972.77 6315692 CM-R&M-Irrigation System 38.74 1,800.00 (1,761.26) 4,417.60 4,100.00 317.60 6315696 CM-R&M-Pumps - 1,000.00 (1,000.00) 2,439.82 2,000.00 439.82 Total-CM-REPAIRS & MAINTENANCE 15,273.36 6,300.00 8,973.36 39,967.06 17,600.00 22,367.06 63-CM-UTILTIES 6317830 Utilities-Electricity-Bldngs - 1,918.00 (1,918.00) 366.91 9,108.00 (8,741.09) 6317840 Telephones 1,357.83 325.00 1,032.83 3,820.85 1,300.00 2,520.85 Total-CM-UTILITIES 1,357.83 2,243.00 (885.17) 4,187.76 10,408.00 (6,220.24) 63-CM-OTHER EXPENSES 6319000 CM-Other Expenses - - - - - - 6319020 Auto Mileage/Allowance 500.00 500.00 - 2,000.00 2,000.00 - 6319100 Contract Svcs-Soil/Tissue Test - - - - 2,000.00 (2,000.00) 6319101 Contract Svcs-Trash Removal 863.58 5,000.00 (4,136.42) 3,603.81 7,400.00 (3,796.19) 6319150 Dues & Subscriptions 135.00 - 135.00 135.00 250.00 (115.00) 6319170 Employee Education - - - - 1,320.00 (1,320.00) 6319197 Equipment Rental 676.36 1,800.00 (1,123.64) 7,111.67 2,100.00 5,011.67 6319206 Licenses & Permits - - - 4.00 500.00 (496.00) 6319490 Miscellaneous 2,866.96 50.00 2,816.96 4,788.20 200.00 4,588.20 6319500 Propane/Natural Gas - 50.00 (50.00) - 200.00 (200.00) 6319718 Safety Equipment & Training 1,395.89 200.00 1,195.89 2,665.27 2,100.00 565.27 6319822 Uniforms 1,354.90 1,500.00 (145.10) 3,902.35 3,750.00 152.35 Total-CM-OTHER EXPENSES 7,792.69 9,100.00 (1,307.31) 24,210.30 21,820.00 2,390.30 Month to Date Year to Date SilverRock Resort Course Maintenance Expense Statement October 2005 5 October Final Budget Variance Final Budget Variance 632-CM-LANDSCAPE MAINTENANCE 632-CM-LM-SALARIES & BENEFITS 6321320 Insurance-Group 1,008.42 - 1,008.42 4,686.40 - 4,686.40 6321325 Insurance-Workers Comp 411.76 2,332.00 (1,920.24) 2,440.91 8,571.00 (6,130.09) 6321800 Taxes-Employer Payroll 593.12 2,145.00 (1,551.88) 3,348.46 7,596.00 (4,247.54) 6321880 Wages-Hourly 5,268.00 14,264.00 (8,996.00) 28,034.19 57,056.00 (29,021.81) 6321882 Wages-Overtime 2,485.13 2,963.00 (477.87) 10,861.27 3,951.00 6,910.27 Total-CM-LM-SALARIES & BENEFITS 9,766.43 21,704.00 (12,945.99) 49,371.23 77,174.00 (27,802.77) 632-CM-LM-SUPPLIES & MATERIALS 6323778 Small Tools 510.13 75.00 435.13 910.57 375.00 535.57 6323788 Uniforms 769.14 225.00 544.14 1,438.68 900.00 538.68 Total-CM-LM-SUPPLIES & MATERIALS 1,279.27 300.00 979.27 2,349.25 1,275.00 1,074.25 632-CM-LM-REPAIRS & MAINTENANCE 6325687 CM-LM-R&M-Drip Irrigation - 500.00 (500.00) 2,788.68 1,500.00 1,288.68 Total-CM-LM-REPAIRS & MAINTENANCE - 500.00 (500.00) 2,788.68 1,500.00 1,288.68 632-CM-WATER & ENERGY 6337834 Utilities-Electricity-Pumping - 15,171.00 (15,171.00) 237.50 75,856.00 (75,618.50) 6337842 Utilities-Water 2,539.41 2,015.00 524.41 7,847.55 6,200.00 1,647.55 Total-CM-WATER & ENERGY 2,539.41 17,186.00 (14,646.59) 8,085.05 82,056.00 (73,970.95) Total -COURSE MAINTENANCE 203,956.54 258,383.00 (54,426.46) 635,456.64 677,881.00 (42,424.36) Month to Date Year to Date Silverrock Resort Course Maintenance Expense Statement October 2005 6 SilverRock Resort Outside Services Expense Statement October 2005 Month to Date Year to Date October Finals Budget Variance Final Budget Variance Expense 641-CBR-SALARIES & BENEFITS 6411175 Employee Meals 522.66 360.00 162.66 2,090.64 1,440.00 650.64 6411320 Insurance-Group 289.21 720.00 (430.79) 25.27 2,880.00 (2,854.73) 6411325 Insurance-Workers Comp 417.78 625.00 (207.22) 1,882.26 3,982.00 (2,099.74) 6411800 Taxes-Employer Payroll 730.06 542.00 188.06 3,371.91 3,452.00 (80.09) 6411880 Wages-Hourly 6,348.01 4,355.00 1,993.01 29,120.97 27,734.00 1,386.97 6411882 Wages-Overtime 383.66 - 383.66 1,046.82 - 1,046.82 Total-CBR-SALARIES & BENEFITS 8,691.38 6,602.00 2,089.38 37,537.87 39,488.00 (1,950.13) 641-CBR-SUPPLIES & MATERIALS 6413732 Supplies-Carts - 500.00 (500.00) 176.29 500.00 (323.71) 6413742 Supplies-Expendable 1,875.16 8,000.00 (6,124.84) 3,404.38 8,450.00 (5,045.62) 6413762 Supplies-Office - 100.00 (100.00) 64.64 250.00 (185.36) 6413786 Supplies-Towels 111.30 2,000.00 (1,888.70) 950.76 2,216.00 (1,265.24) 6413796 Supplies-Bottled Water 2,999.53 669.00 2,330.53 9,741.65 5,469.00 4,272.65 Total-CBR-SUPPLIES & MATERIALS 4,985.99 11,269.00 (6,283.01) 14,337.72 16,885.00 (2,547.28) 641-CBR-REPAIRS & MAINTENANCE 6415096 CBR-R&M-Contract Services-Carts 720.00 720.00 - 1,440.00 2,880.00 (1,440.00) 6415690 CBR-R&M-Equipment 74.00 125.00 (51.00) 110.00 500.00 (390.00) 6415695 CBR-R&M-Cart Maintenance & Repair 279.09 150.00 129.09 333.69 600.00 (266.31) Total-CBR-REPAIRS & MAINTENANCE 1,073.09 995.00 78.09 1,883.69 3,980.00 (2,096.31) 641-CBR-OTHER EXPENSES 6419093 Contract Services-Handicaps 80.00 500.00 (420.00) 280.00 800.00 (520.00) 6419094 Contract Services-Laundry/Linen - 55.00 (55.00) 1,400.40 220.00 1,180.40 6419220 Freight/Delivery - 25.00 (25.00) - 100.00 (100.00) 6419490 Miscellaneous 313.88 125.00 188.88 381.14 500.00 (118.86) 6419820 Uniforms - 2,000.00 (2,000.00) 511.85 2,000.00 (1,488.15) Total-CBR-OTHER EXPENSES 393.88 2,705.00 (2,311.12) 2,573.39 3,620.00 (1,046.61) TOTAL-CARTS,BAGROOM & RANGE 15,144.34 21,571.00 (6,426.66) 56,332.67 63,973.00 (7,640.33) 643-CS-SALARIES & BENEFITS 6431175 Employee Meals 261.33 180.00 81.33 1,045.32 720.00 325.32 6431320 Insurance-Group - 600.00 (600.00) 958.00 2,400.00 (1,442.00) 6431325 Insurance-Workers Comp 161.77 722.00 (560.23) 588.97 2,888.00 (2,299.03) 6431800 Taxes-Employer Payroll 2,374.19 626.00 1,748.19 3,096.83 2,504.00 592.83 6431880 Wages-Hourly 1,871.50 5,027.00 (3,155.50) 8,295.75 20,108.00 (11,812.25) 6431882 Wages-Overtime 107.64 - 107.64 259.91 - 259.91 Total-CS-SALARIES & BENEFITS 4,776.43 7,155.00 (2,378.57) 14,244.78 28,620.00 (14,375.22) 643-CS-OTHER EXPENSES 6433742 Supplies Expendable - 100.00 (100.00) 234.64 300.00 (65.36) 6439490 Miscellaneous - 50.00 (50.00) - 150.00 (150.00) 6439718 Safety Equipment & Training - 100.00 (100.00) - 400.00 (400.00) 6439820 Uniforms - 300.00 (300.00) - 525.00 (525.00) Total-CS-OTHER EXPENSES - 550.00 (550.00) 234.64 1,375.00 (1,140.36) Total-COURSE SERVICES 4,776.43 7,705.00 (2,928.57) 14,479.42 29,995.00 (15,515.58) TOTAL OUTSIDE SERVICES 19,920.77 29,276.00 (9,355.23) 70,812.09 93,968.00 (23,155.91) 7 SilverRock Resort Clubhouse Expense Statement October 2005 Month to Date Year to Date October Finals Budget Variance Final Budget Variance Expense 65-CH-SUPPLIES & MATERIALS 6503742 Supplies-Expendable 500.23 300.00 200.23 2,041.45 1,200.00 841.45 Total-CH-SUPPLIES & MATERIALS 500.23 300.00 200.23 2,041.45 1,200.00 841.45 65-CH-UTILITIES 6507830 Utilities-Electric-Bldgs - 2,715.00 (2,715.00) - 14,482.00 (14,482.00) 6507836 Utilities-Natural Gas 316.36 200.00 116.36 345.31 800.00 (454.69) 6507838 Utilities-Sewer - 200.00 (200.00) - 800.00 (800.00) 6507840 Utilities-Telephone 1,039.55 1,000.00 39.55 4,017.27 4,000.00 17.27 6507842 Utilities-Water 327.17 200.00 127.17 737.01 800.00 (62.99) 6507844 Utilities-Cable 295.29 - 295.29 295.29 - 295.29 Total-CH-UTILITIES 1,683.08 4,315.00 (2,336.63) 5,099.59 20,882.00 (15,487.12) 65-CH-OTHER EXPENSES 6509091 Contract Services-Cleaning 1,750.00 1,750.00 - 7,000.00 7,000.00 - 6509098 Contract Services-Refuse Dispose 936.16 300.00 636.16 2,129.98 1,200.00 929.98 6509099 Contract Services-Security 11,730.95 8,250.00 3,480.95 27,048.33 33,000.00 (5,951.67) 6509215 Flowers & Decorations - 100.00 (100.00) - 400.00 (400.00) 6509490 Miscellaneous - - - 598.65 - 598.65 6509718 Safety Equipment & Training - 500.00 (500.00) 250.00 800.00 (550.00) Total-CH-OTHER EXPENSES 14,417.11 10,900.00 3,517.11 37,026.96 42,400.00 (5,373.04) 65-CH-REPAIRS & MAINTENANCE 6515685 CH-R&M-Building Structures 253.16 250.00 3.16 253.16 1,000.00 (746.84) 6515686 CH-R&M-Restaurant Repairs - 250.00 (250.00) - 1,000.00 (1,000.00) 6515690 CH-R&M-Equipment Repair - 250.00 (250.00) 373.11 1,000.00 (626.89) Total-CH-REPAIRS & MAINTENANCE 253.16 750.00 (496.84) 626.27 3,000.00 (2,373.73) Total CLUBHOUSE 16,853.58 16,265.00 883.87 44,794.27 67,482.00 (22,392.44) 8 SilverRock Resort Marketing Expense Statement October 2005 Month to Date Year to Date October Finals Budget Variance Final Budget Variance Expense 66-MKT-SALARIES & BENEFITS 6601175 Employee Meals 103.37 60.00 43.37 364.70 240.00 124.70 6601320 Insurance-Group - 360.00 (360.00) - 1,440.00 (1,440.00) 6601325 Insurance-Workers Comp 191.15 431.00 (239.85) 832.90 1,724.00 (891.10) 6601720 Salaries 2,727.30 3,000.00 (272.70) 12,150.60 12,000.00 150.60 6601800 Taxes-Employer Payroll 208.64 374.00 (165.36) 929.54 1,496.00 (566.46) Total-MKT-SALARIES & BENEFITS 3,230.46 4,225.00 (994.54) 14,277.74 16,900.00 (2,622.26) 66-MKT-SUPPLIES & MATERIALS 6603762 Supplies-Office 187.47 500.00 (312.53) 288.89 800.00 (511.11) 6603768 Supplies-Printing & Stationery 61.58 5,000.00 (4,938.42) 351.80 5,200.00 (4,848.20) 249.05 5,500.00 (5,250.95) 640.69 6,000.00 (5,359.31) 66-MKT-UTILITIES 6607840 Utilities-Telephone 108.07 100.00 8.07 476.79 400.00 76.79 Total-MKT-UTILITIES 108.07 100.00 8.07 476.79 400.00 76.79 66-MKT-OTHER EXPENSES 6609010 Advertising 16,000.45 7,667.00 8,333.45 28,749.39 25,668.00 3,081.39 6609040 Business Meals - 100.00 (100.00) - 400.00 (400.00) 6609080 Collateral Material - 5,000.00 (5,000.00) 412.68 9,500.00 (9,087.32) 6609102 Contract Services-Web Page 99.00 150.00 (51.00) 895.00 600.00 295.00 6609490 Miscellaneous - 50.00 (50.00) - 50.00 (50.00) 6609620 Postage - 100.00 (100.00) - 400.00 (400.00) 6609630 Promotion 200.00 1,000.00 (800.00) 200.00 3,000.00 (2,800.00) 6609633 Promotion-Community 86.00 1,500.00 (1,414.00) 747.00 1,725.00 (978.00) 6609634 Promotion-Media/Vendor 500.00 - 500.00 500.00 - 500.00 6609820 Uniforms 19.25 500.00 (480.75) 27.50 500.00 (472.50) Total-MKT-OTHER EXPENSES 16,904.70 16,067.00 837.70 31,531.57 41,843.00 (10,311.43) Total-MARKETING 20,492.28 25,892.00 (5,399.72) 46,926.79 65,143.00 (18,216.21) 9 SilverRock Resort General & Administrative Expense Statement October 2005 Month to Date Year to Date October Finals Budget Variance Final Budget Variance Expense 67-G&A-SALARIES & BENEFITS 6701175 Employee Meals 277.60 180.00 97.60 1,095.34 720.00 375.34 6701320 Insurance-Group 2,057.25 3,480.00 (1,422.75) 9,663.34 7,920.00 1,743.34 6701325 Insurance-Workers Comp 980.64 2,252.00 (1,271.36) 3,419.66 9,008.00 (5,588.34) 6701720 Salaries 12,230.78 13,083.00 (852.22) 50,977.16 52,332.00 (1,354.84) 6701800 Taxes-Employer Payroll 1,531.37 1,953.00 (421.63) 5,256.39 7,812.00 (2,555.61) 6701880 Wages-Hourly 3,133.92 2,600.00 533.92 11,775.82 10,400.00 1,375.82 6701882 Wages-Overtime 470.83 - 470.83 2,500.37 - 2,500.37 Total-G&A-SALARIES & BENEFITS 20,682.39 23,548.00 (2,865.61) 84,688.08 88,192.00 (3,503.92) 67-G&A-SUPPLIES & MATERIALS 6703740 Supplies-Computer - 200.00 (200.00) - 800.00 (800.00) 6703762 Supplies-Office 94.77 100.00 (5.23) 702.50 400.00 302.50 6703768 Supplies-Printing & Stationery 250.00 100.00 150.00 786.79 300.00 486.79 6703778 Supplies-Small Tools/Non-Capital - 100.00 (100.00) 685.05 200.00 485.05 Total-G&A-SUPPLIES & MATERIALS 344.77 500.00 (155.23) 2,174.34 1,700.00 474.34 67-G&A-REPAIRS & MAINTENANCE 6705690 Repairs & Maintenance-Equipment 595.00 100.00 495.00 595.00 400.00 195.00 Total-G&A-REPAIRS & MAINTENANCE 595.00 100.00 495.00 595.00 400.00 195.00 67-G&A-OTHER EXPENSES 6709020 Auto/Mileage Allowance 466.31 400.00 66.31 1,666.31 1,600.00 66.31 6709150 Dues & Subscriptions - 50.00 (50.00) - 400.00 (400.00) 6709180 Employee Recruiting/Relocation 392.00 500.00 (108.00) 1,828.92 1,000.00 828.92 6709197 Equipment Rental 520.58 200.00 320.58 2,853.41 800.00 2,053.41 6709202 Fees-Bank - 300.00 (300.00) 93.00 1,200.00 (1,107.00) 6709208 Fees-Payroll Processing 119.23 - 119.23 1,639.76 - 1,639.76 6709220 Freight/Delivery 207.34 50.00 157.34 420.69 200.00 220.69 6709490 Miscellaneous 75.00 100.00 (25.00) 245.90 400.00 (154.10) 6709620 Postage/Mail Services 84.00 100.00 (16.00) 320.00 300.00 20.00 6709625 Professional Fees - 500.00 (500.00) 340.00 2,000.00 (1,660.00) 6709636 Promotion/Entertainment - 100.00 (100.00) 83.58 400.00 (316.42) 6709722 Seminars & Training 250.00 100.00 150.00 270.00 400.00 (130.00) 6709810 Travel 332.95 - 332.95 342.95 - 342.95 6709820 Uniforms - 100.00 (100.00) - 400.00 (400.00) Total-G&A-OTHER EXPENSES 2,447.41 2,500.00 (52.59) 10,104.52 9,100.00 1,004.52 Total-GENERAL & ADMINISTRATIVE 24,069.57 26,648.00 (2,578.43) 97,561.94 99,392.00 (1,830.06) 10 SilverRock Resort Operating Leases & Miscellaneous Other Expense Statement October 2005 Month to Date Year to Date October Finals Budget Variance Final Budget Variance Expense 68-LEASES 6800192 Equipment Leases-Carts 7,297.46 8,050.00 (752.54) 35,479.24 32,200.00 3,279.24 6800193 Equipment Leases-Course Maint 15,811.61 17,250.00 (1,438.39) 63,246.45 69,000.00 (5,753.55) 6800194 Equipment Leases-Trailer 310.41 850.00 (539.59) 931.23 3,400.00 (2,468.77) 6800195 Equipment Leases-Software 1,372.93 1,375.00 (2.07) 5,491.72 5,500.00 (8.28) 6800196 Equipment Leases-GPS 7,707.28 7,430.33 276.95 13,332.28 7,430.33 5,901.95 Total-LEASES 32,499.69 34,955.33 (2,455.64) 118,480.92 117,530.33 950.59 69-MISC OTHER EXPENSES 6900096 Contract Srvcs-Management Fee 7,500.00 20,161.00 (12,661.00) 30,000.00 47,622.00 (17,622.00) 6900097 Contract Srvcs-Golf Ops-Management Fee 5,600.00 - 5,600.00 17,500.00 14,000.00 3,500.00 6900098 Contract Srvcs-Management Fee-F&B 5,206.64 - 5,206.64 35,535.50 10,239.00 25,296.50 6900210 FF&E Reserve 1,375.06 1,917.00 (541.94) 7,366.28 11,187.00 (3,820.72) 6900323 Insurance-Commercial 197.16 5,000.00 (4,802.84) 300.39 20,000.00 (19,699.61) Total-MISC OTHER EXPENSES 19,878.86 27,078.00 (7,199.14) 90,702.17 103,048.00 (12,345.83) 11 Special Projects Project Expense to Date SPECIAL PROJECTS (CURRENT)Actual Project Budget % of Project Drainage 225,535.80$ 332,000.00$ 67.93% Landscape 124,554.39$ 143,000.00$ 87.10% SOD 47,065.17$ 50,000.00$ 94.13% Landmark Contract Services 10,762.50$ 21,000.00$ 51.25% Total Special Projects 407,917.86$ 546,000.00$ 74.71% 12 October Final Budget Variance Prelim Budget Variance 98-FFE 9801010 FFE-CH-Electrical Systems 400.80 - 400.80 627.84 - 627.84 9801050 FFE-CH-Golf Shop 100.00 - 100.00 1,172.11 - 1,172.11 Total-FFE 500.80 - 500.80 1,799.95 - 1,799.95 Silverrock Resort FF&E October 2005 Month to Date Year to Date 13