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06 December 2006 SilverRock Resort - Monthly Financial Statement
Monthly Financial Statements July 2006 – December 2006 TABLE OF CONTENTS Summary Operating Income Expense 1 Statement of Fee Revenue 2 Golf Shop Income Statement 3 Course Maintenance Expense Statement 4 Outside Service Expense Statement 6 Clubhouse Expense Statement 7 Marketing Expense Statement 8 General & Administrative Expense Statement 9 Operating Leases & Miscellaneous Expense Statement 10 Complimentary Report 11 Account Description DecemberFinal Budget Variance Percentages Unfavorable (-) Favorable (+) Final Budget Variance Annual Budget Unemcumb. % Bdgt Income400000 Golf Green Fee Revenue 257,050.61 260,208.00 (3,157.39) -1.2% 886,581.95 892,253.00 (5,671.05) 2,985,870.00 2,099,288.05 30%401000 Miscellaneous Golf Revenue 9,356.25 9,032.00 324.25 3.6% 36,100.25 30,191.00 5,909.25 62,181.00 26,080.75 58%410000 Revenue-Golf Shop 26,950.45 32,640.00 (5,689.55) -17.4% 99,183.23 120,011.00 (20,827.77) 311,248.00 212,064.77 32%420000 Revenue-F&B Concession 1,500.00 1,500.00 - 0.0% 6,000.00 6,000.00 - 12,000.00 6,000.00 50%890000 Interest Income 24.18 - 24.18 0.0% 124.90 - 124.90 - (124.90) Total Income 294,881.49 303,380.00 (8,498.51) -2.8% 1,027,990.33 1,048,455.00 (20,464.67) 3,371,299.00 2,343,308.67 30%Cost of Goods Sold510000 COS-Golf Shop 13,361.82 18,931.20 (5,569.38) 29.4% 49,540.75 69,606.38 20,065.63 180,513.00 130,972.25 27%Total COS 13,361.82 18,931.20 (5,569.38) 29.4% 49,540.75 69,606.38 20,065.63 180,513.00 130,972.25 27%Gross Profit 281,519.67 284,448.80 (2,929.13) -1.0% 978,449.58 978,848.62 (399.04) 3,190,786.00 2,212,336.42 31%610000 Golf Pro Shop 15,915.02 19,394.00 3,478.98 17.9% 96,638.86 96,116.00 (522.86) 211,697.00 115,058.14 46%630000 Course Maintenance 118,974.82 127,595.00 8,620.18 6.8% 935,823.53 963,773.00 27,949.47 1,739,809.00 803,985.47 54%640000 Outside Services 22,016.79 27,374.00 5,357.21 19.6% 105,490.15 129,681.00 24,190.85 291,576.00 186,085.85 36%650000 Clubhouse 21,360.37 15,254.00 (6,106.37) -40.0% 91,324.01 95,755.00 4,430.99 197,095.00 105,770.99 46%660000 Marketing 32,815.46 35,106.00 2,290.54 6.5% 146,831.84 143,982.00 (2,849.84) 248,481.00 101,649.16 59%670000 General & Administrative 23,992.23 26,352.00 2,359.77 9.0% 143,497.11 155,412.00 11,914.89 311,576.00 168,078.89 46%680000 Leases 40,950.70 39,325.00 (1,625.70) -4.1% 232,031.71 235,950.00 3,918.29 471,900.00 239,868.29 49%690000 Miscellaneous Other Expense 18,723.60 19,089.00 365.40 1.9% 100,414.91 127,309.00 26,894.09 263,021.00 162,606.09 38%Total Expenses 294,748.99 309,489.00 14,740.01 4.8% 1,852,052.12 1,947,978.00 95,925.88 3,735,155.00 1,883,102.88 50%Net Income(13,229.32) (25,040.20) 11,810.88 47.2%(873,602.54) (969,129.38) 95,526.84 (544,369.00) 329,233.54 160%Rounds of Golf PlayedRounds Played 3,525 3,840 (315) -8.2% 15,562 15,420 142 39,220 23,658 40%Ave $ Per Paid Round Green Fee 76.23 67.76 8.47 12.5% 56.97 57.86 (0.89) 76.13 19 75%Ave $ Per Paid Round Merchandise 7.99 8.50 (0.51) -6.0% 6.37 7.78 (1.41) 7.94 2 80%Ave $ Per Paid Miscellaneous 2.77 2.35 0.42 18.0% 2.32 1.96 0.36 1.59 - 0%December 2006SilverRock ResortSummary Operating Income Statement1 Income DecemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4000000 Revenue-Fees 257,050.61 260,208.00 (3,157.39) 886,581.95 892,253.00 (5,671.05) 2,985,870.002,099,288.0530%4010000 Rider Fee 1,050.00 - 1,050.00 2,250.00 - 2,250.00 0.000.000%4040000 Club Rental 2,070.00 1,152.00 918.00 6,465.00 4,626.00 1,839.00 11,766.005,301.0055%4050000 Driving Range 4,218.00 2,880.00 1,338.00 13,712.00 11,565.00 2,147.00 29,415.0015,703.0047%4060000 Handicap Fees 280.00 2,500.00 (2,220.00) 3,535.00 6,000.00 (2,465.00) 8,000.00 4,465.0044%4080000 GPS Advertising 1,250.00 2,500.00 (1,250.00) 9,650.00 6,000.00 3,650.00 9,000.00 -650.00107%4090000 Ball Retriever/Subcontract 488.25 - 488.25 488.25 2,000.00 (1,511.75) 4,000.00 4,000.00 0% Total Revenue Fees 266,406.86 269,240.00 (2,833.14) 922,682.20 922,444.00 238.20 3,048,051.00 2,128,107.05 30%Total Income266,406.86 269,240.00 (2,833.14) 922,682.20 922,444.00 238.20 3,048,051.00 2,128,107.05 30%SilverRock ResortStatement of Fees RevenueDecember 2006Month to Date Year to Date Annual Budget2 Income DecemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4100000 Sales Miscellaneous 2,581.80 - 2,581.80 7,830.74 - 7,830.74 4100110 Sales Hard Goods 8,822.33 21,216.00 (12,393.67) 35,965.44 78,007.00 (42,041.56) 108,937.00 72,971.56 33%4100112 Sales-Soft Goods 16,933.50 11,424.00 5,509.50 64,159.22 42,004.00 22,155.22 202,311.00 138,151.78 32%5100639 GS-Discounts-Mdse (1,387.18) - (1,387.18) (8,772.17) - (8,772.17) (9,353.00) (580.83) -94% Total Revenue Golf Shop 26,950.45 32,640.00 (5,689.55) 99,183.23 120,011.00 (20,827.77) 301,895.00 210,542.51 30%COS 5100150 COS-GS-Hard Goods 5,065.88 6,625.92 (1,560.04) 20,234.73 24,362.32 (4,127.59) 63,183.46 42,948.73 32%5100151 COS-GS-Soft Goods 8,295.94 12,305.28 (4,009.34) 29,306.02 45,244.06 (15,938.04) 107,977.38 78,671.36 27%Cost of Sales - Golf Shop 13,361.82 18,931.20 (5,569.38) 49,540.75 69,606.38 (20,065.63) 171,160.84 121,620.09 29%Gross Profit 13,588.63 13,708.80 (120.17) 49,642.48 50,404.62 (762.14) 130,734.16 88,922.42 32%COS % 54.8% 58.0% 3.2% 49.9% 58.0% 8.1% 61.0% 57.8% 5%Expense61-PS-SALARIES & BENEFITS6101175 Employee Meals 360.00 360.00 - 1,831.87 1,860.00 (28.13) 3,960.00 2,128.13 46%6101320 Insurance Group 2,468.48 3,000.00 (531.52) 15,091.82 13,320.00 1,771.82 31,320.00 16,228.18 48%6101325 Insurance-Workers Comp 487.39 1,230.00 (742.61) 3,026.32 6,052.00 (3,025.68) 13,313.00 10,286.68 23%6101720 Salaries 5,153.90 3,333.00 1,820.90 24,379.76 19,998.00 4,381.76 39,992.00 15,612.24 61%6101800 Taxes-Employer Payroll 765.59 1,531.00 (765.41) 5,170.13 7,535.00 (2,364.87) 16,575.00 11,404.87 31%6101880 Wages-Hourly 4,608.54 8,965.00 (4,356.46) 33,954.02 40,526.00 (6,571.98) 93,138.00 59,183.98 36%6101882 Wages-Overtime 8.08 - 8.08 658.97 - 658.97 - 952.88 0%Total -PS-SALARIES & BENEFITS 13,851.98 18,419.00 (4,567.02) 84,112.89 89,291.00 (5,178.11) 198,298.00 115,796.96 42%61-PS-SUPPLIES & MATERIALS6103742 Supplies-Expendable 717.34 - 717.34 762.79 - 762.79 - (762.79) 0%Total PS-SUPPLIES & MATERIALS 717.34 - 717.34 762.79 - 762.79 - (762.79) 0%61-PS OTHER EXPENSES6103762 Supplies-Office - 100.00 (100.00) 866.98 1,150.00 (283.02) 1,525.00 658.02 57%6109090 Contract Services 500.00 500.00 - 2,000.00 3,000.00 (1,000.00) 6,000.00 4,000.00 33%6109197 Equipment Rental - - - 1,593.00 - 1,593.00 - (1,593.00) 0%6109220 Freight & Delivery 61.76 25.00 36.76 899.66 75.00 824.66 75.00 (824.66) 1200%6109490 Miscellaneous - 50.00 (50.00) 691.13 150.00 541.13 450.00 (241.13) 154%6109150 Dues and Subscriptions - - - 156.93 - 156.93 1,500.00 1,343.07 10%6109500 ProShop-Over/Short (19.19) - (19.19) 63.44 - 63.44 - (63.44) 0%6109722 Seminars/Training - 100.00 (100.00) 3,510.00 1,750.00 1,760.00 1,960.00 (1,550.00) 179%6109810 Travel - Merchandise - - - 44.62 - 44.62 90.00 45.38 50%6109820 Uniforms 700.30 200.00 500.30 1,295.11 700.00 595.11 1,800.00 504.89 72%6117840 Telephones 102.83 - 102.83 642.31 - 642.31 - (642.31) 0%6119206 License and Permits - - - - - - - - 0%Total PS-OTHER EXPENSES 1,345.70 975.00 370.70 11,763.18 6,825.00 4,938.18 13,400.00 1,636.82 88%Total Expenses 15,915.02 19,394.00 (3,478.98) 96,638.86 96,116.00 522.86 211,698.00 117,433.78 45%Net Income(2,326.39) (5,685.20) 3,358.81 (46,996.38) (45,711.38) (1,285.00) (80,963.84) (28,511.36) -65%Month to Date Year to Date Annual BudgetSilverRock ResortGolf Shop Income StatementDecember 20063 DecemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense63-CM-SALARIES & BENEFITS6311175 Employee Meals 240.00 240.00 - 1,440.00 1,440.00 - 2,880.00 1,440.00 50.0%6311320 Insurance-Group 10,968.49 5,880.00 5,088.49 69,435.17 35,280.00 34,155.17 70,560.00 1,124.83 1.6%6311325 Insurance-Workers Comp 3,580.64 5,690.00 (2,109.36) 24,279.26 35,833.00 (11,553.74) 70,971.00 46,691.74 65.8%6311720 Salaries 10,692.32 11,748.00 (1,055.68) 69,500.08 70,488.00 (987.92) 141,000.00 71,499.92 50.7%6311800 Taxes-Employer Payroll 4,457.82 7,084.00 (2,626.18) 32,035.37 45,022.00 (12,986.63) 89,006.00 56,970.63 64.0%6311880 Wages-Hourly 46,520.51 45,148.00 1,372.51 292,818.88 281,242.00 11,576.88 558,230.00 265,411.12 47.5%6311882 Wages-Overtime 457.38 - 457.38 25,704.00 9,871.00 15,833.00 15,679.00 (10,025.00) -63.9%Total-CM-SALARIES & BENEFITS76,917.16 75,790.00 1,127.16 515,212.76 479,176.00 36,036.76 948,326.00 433,113.24 45.7%63-CM-SUPPLIES & MATERIALS6313734 Chemicals 82.20 - 82.20 5,922.60 - 5,922.60 (5,922.60) 0.0%6313744 Fertilizer 9,705.74 2,350.00 7,355.74 44,971.69 30,550.00 14,421.69 54,650.00 9,678.31 17.7%6313746 Flowers/Plants - 1,000.00 (1,000.00) - 2,250.00 (2,250.00) 3,500.00 3,500.00 100.0%6313748 Fuel-Gasoline 4,502.10 3,400.00 1,102.10 23,423.20 23,300.00 123.20 40,900.00 17,476.80 42.7%6313750 Golf Course Accessories - 200.00 (200.00) 7,566.58 3,500.00 4,066.58 4,200.00 (3,366.58) -80.2%6313756 POA Control - - - 450.77 3,000.00 (2,549.23) 6,000.00 5,549.23 92.5%6313758 Miscellaneous Supp - 100.00 (100.00) 1,615.11 600.00 1,015.11 1,200.00 (415.11) -34.6%6313766 Pesticides 2,192.87 2,000.00 192.87 8,864.53 8,200.00 664.53 14,900.00 6,035.47 40.5%6313762 Supplies-Office - - - 687.91 - 687.91 - (687.91) 0.0%6313774 Sand 1,365.83 800.00 565.83 1,557.62 5,780.00 (4,222.38) 16,660.00 15,102.38 90.7%6313775 Sand-Bunkers - - - 3,552.24 10,000.00 (6,447.76) 10,000.00 6,447.76 64.5%6313776 Seed 148.70 350.00 (201.30) 102,811.77 82,650.00 20,161.77 84,750.00 (18,061.77) -21.3%6313778 Small Tools & Non-Capital Equip - - - 2,017.61 5,900.00 (3,882.39) 6,500.00 4,482.39 69.0%6313780 Sod - 250.00 (250.00) 642.02 3,750.00 (3,107.98) 5,750.00 5,107.98 88.8%6313782 Topdressing - - - 2,776.92 1,300.00 1,476.92 3,900.00 1,123.08 28.8%Total-CM-SUPPLIES & MATERIALS17,997.44 10,450.00 7,547.44 206,860.57 180,780.00 26,080.57 252,910.00 46,049.43 18.2%63-CM-REPAIRS & MAINTENANCE6315095 CM-R&M-Contract Lake Maint 500.00 500.00 - 6,517.10 6,000.00 517.10 14,000.00 7,482.90 53.4%6315685 CM-R&M-Bldngs & Othr Structures 79.00 - 79.00 780.06 - 780.06 500.00 (280.06) -56.0%6315686 CM-R&M- Drainage - - - 3,469.61 - 3,469.61 - (3,469.61) 0.0%6315690 CM-R&M-Equipment 763.31 700.00 63.31 21,471.35 10,200.00 11,271.35 14,400.00 (7,071.35) -49.1%6315692 CM-R&M-Irrigation System - 550.00 (550.00) 8,883.41 5,150.00 3,733.41 8,450.00 (433.41) -5.1%6315696 CM-R&M-Pumps - - - 4,304.99 4,000.00 304.99 5,000.00 695.01 13.9%6315815 CM-R&M-Trees-Pruning Etc - 1,000.00 (1,000.00) 3,495.40 4,000.00 (504.60) 4,000.00 504.60 12.6%Total-CM-REPAIRS & MAINTENANCE 1,342.31 2,750.00 (1,407.69) 48,921.92 29,350.00 19,571.92 46,350.00 (2,571.92) -5.5%63-CM-UTILTIES6317830 Utilities-Electricity-Bldngs - 1,605.00 (1,605.00) 17,885.16 12,783.00 5,102.16 22,080.00 4,194.84 19.0%6317836 Utilities-Natural Gas/LPG 75.66 - 75.66 172.22 - 172.22 - (172.22) 0.0%6317840 Telephones 731.46 350.00 381.46 5,354.35 2,100.00 3,254.35 4,200.00 (1,154.35) -27.5%Total-CM-UTILITIES 807.12 1,955.00 (1,147.88) 23,411.73 14,883.00 8,528.73 26,280.00 2,868.27 10.9%63-CM-OTHER EXPENSES6319020 Auto Mileage/Allowance 500.00 500.00 - 3,000.00 3,000.00 - 6,000.00 3,000.00 50.0%6319100 Contract Svcs-Soil/Tissue Test - - - - 2,000.00 (2,000.00) 4,000.00 4,000.00 100.0%6319101 Contract Svcs-Trash Removal - 400.00 (400.00) 4,309.81 2,400.00 1,909.81 18,800.00 14,490.19 77.1%6319102 Greens-Waste Removal 3,781.68 300.00 3,481.68 8,849.55 12,200.00 (3,350.45) 14,000.00 5,150.45 36.8%6319150 Dues & Subscriptions - - - - 400.00 (400.00) 900.00 900.00 100.0%6319170 Employee Education - 50.00 (50.00) - 300.00 (300.00) 600.00 600.00 100.0%6319197 Equipment Rental 40.95 200.00 (159.05) 1,282.25 3,100.00 (1,817.75) 4,200.00 2,917.75 69.5%6319206 Licenses & Permits - - - - 200.00 (200.00) 1,800.00 1,800.00 100.0%6319490 Miscellaneous 187.32 100.00 87.32 652.92 600.00 52.92 1,200.00 547.08 45.6%6319500 Propane/Natural Gas - 150.00 (150.00) - 900.00 (900.00) 1,800.00 1,800.00 100.0%6319718 Safety Equipment & Training 21.71 200.00 (178.29) 631.59 2,500.00 (1,868.41) 3,400.00 2,768.41 81.4%6319822 Uniforms 692.31 720.00 (27.69) 3,899.92 5,070.00 (1,170.08) 9,390.00 5,490.08 58.5%Total-CM-OTHER EXPENSES 5,223.97 2,620.00 2,603.97 22,626.04 32,670.00 (10,043.96) 66,090.00 43,463.96 65.8%Month to Date Year to DateSilverRock ResortCourse Maintenance Expense StatementDecember 2006Annual Budget4 DecemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget632-CM-LANDSCAPE MAINTENANCE632-CM-LM-SALARIES & BENEFITS6321320 Insurance-Group 1,104.00 1,104.00 - 7,576.63 6,624.00 952.63 13,248.00 5,671.37 0.0%6321325 Insurance-Workers Comp 425.66 1,314.00 (888.34) 2,831.12 8,188.00 (5,356.88) 16,194.00 13,362.88 82.5%6321800 Taxes-Employer Payroll 474.48 1,636.00 (1,161.52) 4,969.89 10,382.00 (5,412.11) 20,426.00 15,456.11 75.7%6321880 Wages-Hourly 12,808.00 13,141.00 (333.00) 52,861.75 78,846.00 (25,984.25) 157,692.00 104,830.25 66.5%6321882 Wages-Overtime 142.13 - 142.13 4,448.37 4,550.00 (101.63) 6,370.00 1,921.63 30.2%Total-CM-LM-SALARIES & BENEFITS14,954.27 17,195.00 (2,240.73) 72,687.76 108,590.00 (35,902.24) 213,930.00 135,570.87 63.4%632-CM-LM-SUPPLIES & MATERIALS6323778 Small Tools - 75.00 (75.00) 4,962.30 575.00 4,387.30 1,025.00 (3,937.30) -384.1%6323788 Uniforms 380.86 240.00 140.86 1,393.12 1,440.00 (46.88) 2,880.00 1,486.88 51.6%Total-CM-LM-SUPPLIES & MATERIALS380.86 315.00 65.86 6,355.42 2,015.00 4,340.42 3,905.00 (2,450.42) -62.8%632-CM-LM-REPAIRS & MAINTENANCE6325687 CM-LM-R&M-Drip Irrigation 238.47 500.00 (261.53) 1,018.16 2,500.00 (1,481.84) 4,250.00 3,231.84 76.0%Total-CM-LM-REPAIRS & MAINTENANCE 238.47 500.00 (261.53) 1,018.16 2,500.00 (1,481.84) 4,250.00 3,231.84 76.0%632-CM-WATER & ENERGY6337834 Utilities-Electricity-Pumping 1,113.22 14,671.00 (13,557.78) 30,982.28 105,095.00 (74,112.72) 183,642.00 152,659.72 83.1%6337842 Utilities-Water- 1,349.00 (1,349.00) 7,746.89 8,714.00 (967.11) 18,126.00 10,379.11 57.3%Total-CM-WATER & ENERGY1,113.22 16,020.00 (14,906.78) 38,729.17 113,809.00 (75,079.83) 201,768.00 163,038.83 80.8%118,974.82 127,595.00 (8,620.18) 935,823.53 963,773.00 (27,949.47) 1,763,809.00 822,314.10 46.6%Silverrock ResortCourse Maintenance Expense StatementDecember 2006Annual BudgetTotal -COURSE MAINTENANCEMonth to Date Year to Date5 DecemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense641-CBR-SALARIES & BENEFITS6411175 Employee Meals 540.00 600.00 (60.00) 2,700.00 2,820.00 (120.00) 6,240.00 3,540.00 56.7%6411320 Insurance-Group 892.39 720.00 172.39 5,043.74 4,320.00 723.74 8,640.00 3,596.26 41.6%6411325 Insurance-Workers Comp 326.63 1,741.00 (1,414.37) 2,172.46 6,942.00 (4,769.54) 16,944.00 14,771.54 87.2%6411800 Taxes-Employer Payroll 969.66 1,510.00 (540.34) 4,545.65 6,019.00 (1,473.35) 14,690.00 10,144.35 69.1%6411880 Wages-Hourly 11,225.30 12,127.00 (901.70) 42,048.12 48,350.00 (6,301.88) 117,992.00 75,943.88 64.4%6411882 Wages-Overtime 43.15 - 43.15 921.21 - 921.21 - (921.21) 0.0%Total-CBR-SALARIES & BENEFITS13,997.13 16,698.00 (2,700.87) 57,431.18 68,451.00 (11,019.82) 164,506.00 107,074.82 65.1%641-CBR-SUPPLIES & MATERIALS6413732 Supplies-Carts 155.85 500.00 (344.15) 828.95 2,000.00 (1,171.05) 2,350.00 1,521.05 64.7%6413742 Supplies-Expendable 445.05 150.00 295.05 1,710.95 4,600.00 (2,889.05) 7,550.00 5,839.05 77.3%6413752 Supplies-Range Balls - - - 5,250.00 6,000.00 (750.00) 6,000.00 750.00 12.5%6413762 Supplies-Office - 50.00 (50.00) 201.90 225.00 (23.10) 525.00 323.10 61.5%6413768 Supplies-Printing and Stationary - - - - - - 420.00 420.00 100.0%6413786 Supplies-Towels 420.53 72.00 348.53 3,586.52 1,860.00 1,726.52 2,292.00 (1,294.52) -56.5%6413796 Supplies-Bottled Water1,142.32 1,293.00 (150.68) 8,527.45 7,962.00 565.45 22,631.00 14,103.55 62.3%Total-CBR-SUPPLIES & MATERIALS2,163.75 2,065.00 98.75 20,105.77 22,647.00 (2,541.23) 41,768.00 21,662.23 51.9%641-CBR-REPAIRS & MAINTENANCE6415096 CBR-R&M-Contract Services-Carts - 720.00 (720.00) 3,600.00 4,320.00 (720.00) 8,640.00 5,040.00 58.3%6415690 CBR-R&M-Equipment - 125.00 (125.00) 2,997.43 750.00 2,247.43 1,500.00 (1,497.43) -99.8%6415695 CBR-R&M-Cart Maintenance & Repair - 250.00 (250.00) 1,155.12 1,500.00 (344.88) 3,000.00 1,844.88 61.5%Total-CBR-REPAIRS & MAINTENANCE - 1,095.00 (1,095.00) 7,752.55 6,570.00 1,182.55 13,140.00 5,387.45 41.0%641-CBR-OTHER EXPENSES6419093 Contract Services-Handicaps - 1,250.00 (1,250.00) 240.00 2,350.00 (2,110.00) 5,000.00 4,760.00 95.2%6419094 Contract Services-Laundry/Linen - 155.00 (155.00) - 930.00 (930.00) 1,690.00 1,690.00 100.0%6419220 Freight/Delivery - 75.00 (75.00) 122.17 450.00 (327.83) 900.00 777.83 86.4%6419490 Miscellaneous - 75.00 (75.00) - 500.00 (500.00) 1,150.00 1,150.00 100.0%6419820 Uniforms 38.98 - 38.98 2,354.79 2,500.00 (145.21) 4,625.00 2,270.21 49.1%Total-CBR-OTHER EXPENSES 38.98 1,555.00 (1,516.02) 2,716.96 6,730.00 (4,013.04) 13,365.00 10,648.04 79.7%TOTAL-CARTS,BAGROOM & RANGE 16,199.86 21,413.00 (5,213.14) 88,006.46 104,398.00 (16,391.54) 232,779.00 144,772.54 62.2%643-CS-SALARIES & BENEFITS6431175 Employee Meals 300.00 300.00 - 1,380.00 1,440.00 (60.00) 3,120.00 1,740.00 55.8%6431320 Insurance-Group - - - - - - - - 0.0%6431325 Insurance-Workers Comp 176.57 440.00 (263.43) 972.88 1,799.00 (826.12) 4,261.00 3,288.12 77.2%6431800 Taxes-Employer Payroll 352.95 548.00 (195.05) 1,222.37 2,239.00 (1,016.63) 5,305.00 4,082.63 77.0%6431880 Wages-Hourly 3,747.98 4,398.00 (650.02) 11,321.44 17,980.00 (6,658.56) 42,611.00 31,289.56 73.4%6431882 Wages-Overtime 2.72 - 2.72 159.32 - 159.32 - (159.32) 0.0%Total-CS-SALARIES & BENEFITS4,580.22 5,686.00 (1,105.78) 15,056.01 23,458.00 (8,401.99) 55,297.00 40,240.99 72.8%643-CS-OTHER EXPENSES6433742 Supplies Expendable 1,236.71 100.00 1,136.71 1,639.60 500.00 1,139.60 1,050.00 (589.60) -56.2%6439490 Miscellaneous - 50.00 (50.00) - 150.00 (150.00) 200.00 200.00 100.0%6439718 Safety Equipment & Training - 50.00 (50.00) - 300.00 (300.00) 600.00 600.00 100.0%6439820 Uniforms - 75.00 (75.00) 788.08 875.00 (86.92) 1,650.00 861.92 52.2%Total-CS-OTHER EXPENSES 1,236.71 275.00 961.71 2,427.68 1,825.00 602.68 3,500.00 1,072.32 30.6%Total-COURSE SERVICES 5,816.93 5,961.00 (144.07) 17,483.69 25,283.00 (7,799.31) 58,797.00 41,313.31 70.3%TOTAL OUTSIDE SERVICES22,016.79 27,374.00 (5,357.21) 105,490.15 129,681.00 (24,190.85) 291,576.00 185,013.53 63.5%Month to Date Year to DateSilverRock ResortOutside Services Expense StatementDecember 2006Annual Budget6 DecemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense65-CH-SUPPLIES & MATERIALS6503742 Supplies-Expendable274.44 400.00 (125.56) 2,708.56 2,400.00 308.56 4,800.00 2,091.44 43.6%Total-CH-SUPPLIES & MATERIALS 274.44 400.00 (125.56) 2,708.56 2,400.00 308.56 4,800.00 2,091.44 43.6%65-CH-UTILITIES6507830 Utilities-Electric-Bldgs7,375.00 2,512.00 4,863.00 7,375.00 19,303.00 (11,928.00) 42,795.00 35,420.00 82.8%6507836 Utilities-Natural Gas676.80 200.00 476.80 1,480.72 1,200.00 280.72 2,400.00 919.28 38.3%6507838 Utilities-Sewer- 200.00 (200.00) - 1,200.00 (1,200.00) 2,400.00 2,400.00 100.0%6507840 Utilities-Telephone950.48 675.00 275.48 7,033.56 4,050.00 2,983.56 8,100.00 1,066.44 13.2%6507842 Utilities-Water180.90 200.00 (19.10) 1,167.50 1,200.00 (32.50) 2,400.00 1,232.50 51.4%6507844 Utilities-Cable198.16 317.00 (118.84) 1,789.62 1,902.00 (112.38) 3,800.00 2,010.38 0.0%Total-CH-UTILITIES 9,381.34 4,104.00 5,277.34 18,846.40 28,855.00 (10,008.60) 61,895.00 43,048.60 69.6%65-CH-OTHER EXPENSES6509091 Contract Services-Cleaning1,825.00 1,750.00 75.00 10,950.00 10,500.00 450.00 21,000.00 10,050.00 47.9%6509098 Contract Services-Refuse Dispose1,197.08 400.00 797.08 2,841.65 2,400.00 441.65 4,800.00 1,958.35 40.8%6509099 Contract Services-Security7,500.08 7,800.00 (299.92) 50,184.28 46,800.00 3,384.28 93,600.00 43,415.72 46.4%6509215 Flowers & Decorations95.19 100.00 (4.81) 473.77 600.00 (126.23) 2,600.00 2,126.23 81.8%6509490 Miscellaneous70.00 - 70.00 420.81 - 420.81 - (420.81) 0.0%6509718 Safety Equipment & Training- 100.00 (100.00) - 600.00 (600.00) 1,200.00 1,200.00 100.0%Total-CH-OTHER EXPENSES 10,687.35 10,150.00 537.35 64,870.51 60,900.00 3,970.51 123,200.00 58,329.49 47.3%65-CH-REPAIRS & MAINTENANCE6515685 CH-R&M-Building Structures1,000.00 200.00 800.00 1,211.91 1,200.00 11.91 2,400.00 1,188.09 49.5%6515686 CH-R&M-Restaurant Repairs- 200.00 (200.00) 280.18 1,200.00 (919.82) 2,400.00 2,119.82 88.3%6515690 CH-R&M-Equipment Repair17.24 200.00 (182.76) 3,406.45 1,200.00 2,206.45 2,400.00 (1,006.45) -41.9%Total-CH-REPAIRS & MAINTENANCE 1,017.24 600.00 417.24 4,898.54 3,600.00 1,298.54 7,200.00 2,301.46 32.0%Total CLUBHOUSE21,360.37 15,254.00 6,106.37 91,324.01 95,755.00 (4,430.99) 197,095.00 4,602.92 2.3%Month to Date Year to DateSilverRock ResortClubhouse Expense StatementDecember 2006Annual Budget7 DecemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense66-MKT-SALARIES & BENEFITS6601175 Employee Meals 60.00 60.00 - 180.00 360.00 (180.00) 720.00 540.00 75.0%6601320 Insurance-Group - 150.00 (150.00) 306.21 900.00 (593.79) 1,800.00 1,493.79 83.0%6601325 Insurance-Workers Comp - 317.00 (317.00) 788.83 1,902.00 (1,113.17) 3,800.00 3,011.17 79.2%6601720 Salaries 3,150.00 3,167.00 (17.00) 11,496.23 19,002.00 (7,505.77) 38,004.00 26,507.77 69.7%6601800 Taxes-Employer Payroll 346.50 394.00 (47.50) 991.47 2,364.00 (1,372.53) 4,731.00 3,739.53 79.0%Total-MKT-SALARIES & BENEFITS 3,556.50 4,088.00 (531.50) 13,762.74 24,528.00 (10,765.26) 49,055.00 35,292.26 71.9%66-MKT-SUPPLIES & MATERIALS6603080 Collateral Material - - - 1,616.24 3,500.00 (1,883.76) - (1,616.24) 0.0%6603762 Supplies-Office - 100.00 (100.00) 381.44 600.00 (218.56) 1,200.00 818.56 68.2%6603768 Supplies-Printing & Stationery 21.55 200.00 (178.45) 264.49 3,600.00 (3,335.51) 4,425.00 4,160.51 94.0%21.55 300.00 (278.45) 2,262.17 7,700.00 (5,437.83) 5,625.00 3,362.83 59.8%66-MKT-UTILITIES6607840 Utilities-Telephone 67.54 100.00 (32.46) 568.74 600.00 (31.26) 1,200.00 631.26 52.6%Total-MKT-UTILITIES 67.54 100.00 (32.46) 568.74 600.00 (31.26) 1,200.00 631.26 52.6%66-MKT-OTHER EXPENSES6609010 Advertising 28,413.38 29,468.00 (1,054.62) 126,093.49 106,529.00 19,564.49 175,290.00 49,196.51 28.1%6609040 Business Meals - 25.00 (25.00) 25.20 150.00 (124.80) 300.00 274.80 91.6%6609080 Collateral Material 495.00 - 495.00 2,922.21 - 2,922.21 9,000.00 6,077.79 67.5%6609102 Contract Services-Web Page - 175.00 (175.00) 396.00 1,050.00 (654.00) 2,100.00 1,704.00 81.1%6609490 Miscellaneous - 50.00 (50.00) - 100.00 (100.00) 350.00 350.00 100.0%6609620 Postage - 50.00 (50.00) 174.28 300.00 (125.72) 600.00 425.72 71.0%6609630 Promotion - 50.00 (50.00) 240.42 150.00 90.42 - (240.42) 0.0%6609633 Promotion-Community 82.31 750.00 (667.69) 128.31 2,475.00 (2,346.69) 2,925.00 2,796.69 95.6%6609634 Promotion-Media/Vender - - - - - - 700.00 - 0.0%6609150 Dues and Subscriptions - - - - - - 735.00 735.00 0.0%6609820 Uniforms 179.18 50.00 129.18 258.28 400.00 (141.72) 600.00 341.72 57.0%Total-MKT-OTHER EXPENSES 29,169.87 30,618.00 (1,448.13) 130,238.19 111,154.00 19,084.19 192,600.00 61,661.81 32.0%Total-MARKETING32,815.46 35,106.00 (2,290.54) 146,831.84 143,982.00 2,849.84 248,480.00 100,948.16 40.6%Month to Date Year to DateSilverRock ResortMarketing Expense StatementDecember 2006Annual Budget8 DecemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense67-G&A-SALARIES & BENEFITS6701175 Employee Meals 180.00 180.00 - 1,080.00 1,080.00 - 2,160.00 1,080.00 50.0%6701320 Insurance-Group1,635.12 2,280.00 (644.88) 9,486.98 13,680.00 (4,193.02) 27,360.00 17,873.02 65.3%6701325 Insurance-Workers Comp1,002.46 1,598.00 (595.54) 6,714.60 9,588.00 (2,873.40) 19,176.00 12,461.40 65.0%6701720 Salaries 12,434.40 13,250.00 (815.60) 81,270.01 79,500.00 1,770.01 159,000.00 77,729.99 48.9%6701800 Taxes-Employer Payroll 835.53 1,989.00 (1,153.47) 7,053.46 11,934.00 (4,880.54) 23,874.00 16,820.54 70.5%6701880 Wages-Hourly2,778.46 2,730.00 48.46 16,547.09 16,380.00 167.09 32,756.00 16,208.91 49.5%6701882 Wages-Overtime - - - 418.50 - 418.50 - (418.50) 0.0%Total-G&A-SALARIES & BENEFITS 18,865.97 22,027.00 (3,161.03) 122,570.64 132,162.00 (9,591.36) 264,326.00 141,755.36 53.6%67-G&A-SUPPLIES & MATERIALS6703740 Supplies-Computer- 500.00 (500.00) 444.92 3,000.00 (2,555.08) 6,000.00 5,555.08 92.6%6703762 Supplies-Office - 125.00 (125.00) 675.26 750.00 (74.74) 1,500.00 824.74 55.0%6703768 Supplies-Printing & Stationery100.00 400.00 (300.00) 809.04 800.00 9.04 3,200.00 2,390.96 74.7%6703778Supplies-Small Tools/Non-Capital - 100.00 (100.00) - 400.00 (400.00) 900.00 900.00 100.0%Total-G&A-SUPPLIES & MATERIALS 100.00 1,125.00 (1,025.00) 1,929.22 4,950.00 (3,020.78) 11,600.00 9,670.78 83.4%67-G&A-REPAIRS & MAINTENANCE6705690 Repairs & Maintenance-Equipment255.00 100.00 155.00 1,487.50 600.00 887.50 1,200.00 (287.50) -24.0%Total-G&A-REPAIRS & MAINTENANCE 255.00 100.00 155.00 1,487.50 600.00 887.50 1,200.00 (287.50) -24.0%67-G&A-OTHER EXPENSES6709020 Auto/Mileage Allowance400.00 400.00 - 2,400.00 2,400.00 - 4,800.00 2,400.00 50.0%6709090 Contract Services- - - 75.00 - 75.00 - - 0.0%6709150 Dues & Subscriptions- 200.00 (200.00) - 550.00 (550.00) 1,500.00 1,500.00 100.0%6709180 Employee Recruiting/Relocation2,707.63 500.00 2,207.63 3,882.61 2,000.00 1,882.61 2,000.00 (1,882.61) -94.1%6709197 Equipment Rental134.74 350.00 (215.26) 2,021.69 2,100.00 (78.31) 4,200.00 2,178.31 51.9%6709202 Fees-Bank128.59 300.00 (171.41) 539.38 1,800.00 (1,260.62) 3,600.00 3,060.62 85.0%6709208 Fees-Payroll Processing682.23 550.00 132.23 3,095.93 3,300.00 (204.07) 6,600.00 3,504.07 0.0%6709220 Freight/Delivery69.31 50.00 19.31 351.68 300.00 51.68 600.00 248.32 41.4%6709490 Miscellaneous - 100.00 (100.00) 438.83 600.00 (161.17) 1,200.00 761.17 63.4%6709620 Postage/Mail Services 159.08 75.00 84.08 485.33 450.00 35.33 900.00 414.67 46.1%6709625 Professional Fees- 400.00 (400.00) 3,305.00 2,400.00 905.00 4,800.00 1,495.00 31.1%6709636 Promotion/Entertainment- 100.00 (100.00) - 600.00 (600.00) 1,200.00 1,200.00 100.0%6709722 Seminars & Training250.00 - 250.00 500.00 500.00 - 900.00 400.00 44.4%6709810 Travel - - - 120.99 100.00 20.99 1,100.00 979.01 89.0%6709820 Uniforms 239.68 75.00 164.68 293.31 600.00 (306.69) 1,050.00 756.69 72.1%Total-G&A-OTHER EXPENSES 4,771.26 3,100.00 1,671.26 17,509.75 17,700.00 (190.25) 34,450.00 17,015.25 49.4%Total-GENERAL & ADMINISTRATIVE23,992.23 26,352.00 (2,359.77) 143,497.11 155,412.00 (11,914.89) 311,576.00 168,153.89 54.0%Month to Date Year to DateSilverRock ResortGeneral & Administrative Expense StatementDecember 2006Annual Budget9 DecemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense68-LEASES6800192 Equipment Leases-Carts 11,033.14 9,800.00 1,233.14 53,697.04 58,800.00 (5,102.96) 117,600.00 63,902.96 54.3%6800193 Equipment Leases-Course Maint 18,716.01 20,000.00 (1,283.99) 126,512.35 120,000.00 6,512.35 240,000.00 113,487.65 47.3%6800194 Equipment Leases-Trailer 2,458.37 600.00 1,858.37 4,034.01 3,600.00 434.01 7,200.00 3,165.99 44.0%6800195 Equipment Leases-Software 1,372.93 1,525.00 (152.07) 8,627.58 9,150.00 (522.42) 18,300.00 9,672.42 52.9%6800196 Equipment Leases-GPS 7,370.25 7,400.00 (29.75) 39,160.73 44,400.00 (5,239.27) 88,800.00 49,639.27 55.9%Total-LEASES40,950.70 39,325.00 1,625.70 232,031.71 235,950.00 (3,918.29) 471,900.00 239,868.29 50.8%69-MISC OTHER EXPENSES6900096 Contract Srvcs-Management Fee 9,195.46 8,851.00 344.46 69,703.44 81,140.00 (11,436.56) 125,196.00 55,492.56 44.3%6900210 FF&E Reserve 5,328.14 6,038.00 (709.86) 17,788.07 20,969.00 (3,180.93) 67,426.00 49,637.93 73.6%6900211 Personal Property Taxes20,000.00 20,000.00 100.0%6900323 Insurance-Commercial 4,200.00 4,200.00 - 12,923.40 25,200.00 (12,276.60) 50,400.00 37,476.60 74.4%Total-MISC OTHER EXPENSES18,723.60 19,089.00 (365.40) 100,414.91 127,309.00 (26,894.09) 263,022.00 162,607.09 61.8% Operating Leases & Miscellaneous Other Expense StatementDecember 2006Annual BudgetMonth to Date Year to Date10 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report‐2006‐20072006 2006 2006 2006 2006 2006Comp CategoryJulyAugustSeptemberOctoberNovemberDecemberMedia6158 01815Sales727842Promotion423000Golf Industry20 21 15 9 17 26VIP600004Celebrity000000PGA Comp27 28 60 2 16 18Charity/Gift Certificate624370 029Rain/Wind Checks0000287Club Staff20 17 44 2 22 50LQ HS Golf00030096 109 174 24 105 15111 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report‐2006‐2007December 200612/2/2006 2:30 Gary Stone Media 412/8/2006 10:52 Mary Bono's Office VIP 412/14/2006 1:00 Mike Sceletta - Rater for Golf Digest Golf Industry212/15/2006 8:00 Steve Arent Golf Industry412/16/2006 8:15 Richard Doyle - Desert Sun Sales 212/16/2006 2:00 Gary Stone Media 212/23/2006 9:45 Chad Payne - CBS Media 412/26/2006 10:45 John White - KESQ Media 412/28/2006 10:45 Randy Strand - Commercial Media 112/29/2006 8:37 Rick Paul - WindcheckWindcheck112/29/2006 10:15 David Savin - WindcheckWindcheck112/30/2006 11:30 Cynthia Radom - WindcheckWindcheck112/30/2006 2:00 Jim Gordon - WindcheckWindcheck112/31/2006 9:45 Laird - WindcheckWindcheck312