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05 November 2006 SilverRock Resort - Monthly Financial Statement Monthly Financial Statements July 2006 – November 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 NovemberFinal Budget Variance Percentages Unfavorable (-) Favorable (+) Final Budget Variance Annual Budget Unemcumb. % Bdgt Income400000 Golf Green Fee Revenue 274,773.08 260,208.00 14,565.08 5.6% 629,531.34 632,045.00 (2,513.66) 2,985,870.00 2,356,338.66 21%401000 Miscellaneous Golf Revenue 7,437.00 8,032.00 (595.00) -7.4% 26,744.00 21,159.00 5,585.00 62,181.00 35,437.00 43%410000 Revenue-Golf Shop 31,968.22 32,640.00 (671.78) -2.1% 72,232.78 87,371.00 (15,138.22) 311,248.00 239,015.22 23%420000 Revenue-F&B Concession 1,500.00 1,500.00 - 0.0% 4,500.00 4,500.00 - 12,000.00 7,500.00 38%890000 Interest Income - - - 0.0% 88.33 - 88.33 - (88.33) Total Income 315,678.30 302,380.00 13,298.30 4.4% 733,096.45 745,075.00 (11,978.55) 3,371,299.00 2,638,202.55 22%Cost of Goods Sold510000 COS-Golf Shop 15,035.07 18,931.20 (3,896.13) 20.6% 37,678.93 50,675.18 12,996.25 180,513.00 142,834.07 21%Total COS 15,035.07 18,931.20 (3,896.13) 20.6% 37,678.93 50,675.18 12,996.25 180,513.00 142,834.07 21%Gross Profit 300,643.23 283,448.80 17,194.43 6.1% 695,417.52 694,399.82 1,017.70 3,190,786.00 2,495,368.48 22%610000 Golf Pro Shop 19,946.70 18,765.00 (1,181.70) -6.3% 80,723.84 76,722.00 (4,001.84) 211,697.00 130,973.16 38%630000 Course Maintenance 150,915.81 145,716.00 (5,199.81) -3.6% 808,156.34 836,178.00 28,021.66 1,739,809.00 931,652.66 46%640000 Outside Services 25,765.69 25,461.00 (304.69) -1.2% 83,473.36 102,307.00 18,833.64 291,576.00 208,102.64 29%650000 Clubhouse 13,126.05 15,254.00 2,127.95 14.0% 69,983.64 80,501.00 10,517.36 197,095.00 127,111.36 36%660000 Marketing 34,249.91 33,456.00 (793.91) -2.4% 99,760.11 108,876.00 9,115.89 248,481.00 148,720.89 40%670000 General & Administrative 25,684.84 26,077.00 392.16 1.5% 114,542.77 129,060.00 14,517.23 311,576.00 197,033.23 37%680000 Leases 37,310.75 39,325.00 2,014.25 5.1% 191,081.01 196,625.00 5,543.99 471,900.00 280,818.99 40%690000 Miscellaneous Other Expense 22,084.71 18,465.00 (3,619.71) -19.6% 75,922.50 108,220.00 32,297.50 263,021.00 187,098.50 29%Total Expenses 329,084.46 322,519.00 (6,565.46) -2.0% 1,523,643.57 1,638,489.00 114,845.43 3,735,155.00 2,211,511.43 41%Net Income(28,441.23) (39,070.20) 10,628.97 27.2%(828,226.05) (944,089.18) 115,863.13 (544,369.00) 283,857.05 152%Rounds of Golf PlayedRounds Played 3,810 3,840 (30) -0.8% 12,037 11,580 457 39,220 27,183 31%Ave $ Per Paid Round Green Fee 72.12 67.76 4.36 6.4% 52.30 54.58 (2.28) 76.13 24 69%Ave $ Per Paid Round Merchandise 8.39 8.50 (0.11) -1.3% 6.00 7.54 (1.54) 7.94 2 76%Ave $ Per Paid Miscellaneous 1.95 2.09 (0.14) -6.7% 2.22 1.83 0.39 1.59 - 0%November 2006SilverRock ResortSummary Operating Income Statement1 Income NovemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4000000 Revenue-Fees 274,773.08 260,208.00 14,565.08 629,531.34 632,045.00 (2,513.66) 2,985,870.002,356,338.6621%4010000 Rider Fee 425.00 - 425.00 1,200.00 - 1,200.00 0.000.000%4040000 Club Rental 1,740.00 1,152.00 588.00 4,395.00 3,474.00 921.00 11,766.007,371.0037%4050000 Driving Range 3,742.00 2,880.00 862.00 9,494.00 8,685.00 809.00 29,415.0019,921.0032%4060000 Handicap Fees 1,530.00 2,000.00 (470.00) 3,255.00 3,500.00 (245.00) 8,000.00 4,745.0041%4080000 GPS Advertising - 2,000.00 (2,000.00) 8,400.00 3,500.00 4,900.00 9,000.00 600.0093%4090000 Ball Retriever/Subcontract - - - - 2,000.00 (2,000.00) 4,000.00 4,000.00 0% Total Revenue Fees 282,210.08 268,240.00 13,970.08 656,275.34 653,204.00 3,071.34 3,048,051.00 2,392,975.66 21%Total Income282,210.08 268,240.00 13,970.08 656,275.34 653,204.00 3,071.34 3,048,051.00 2,392,975.66 21%SilverRock ResortStatement of Fees RevenueNovember 2006Month to Date Year to Date Annual Budget2 Income NovemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4100000 Sales Miscellaneous 5,041.60 - 5,041.60 5,248.94 - 5,248.94 4100110 Sales Hard Goods 8,923.65 21,216.00 (12,292.35) 27,143.11 56,791.00 (29,647.89) 108,937.00 81,793.89 25%4100112 Sales-Soft Goods 18,953.75 11,424.00 7,529.75 47,225.72 30,580.00 16,645.72 202,311.00 155,085.28 23%5100639 GS-Discounts-Mdse (950.78) - (950.78) (7,384.99) - (7,384.99) (9,353.00) (1,968.01) -79% Total Revenue Golf Shop 31,968.22 32,640.00 (671.78) 72,232.78 87,371.00 (15,138.22) 301,895.00 234,911.16 22%COS 5100150 COS-GS-Hard Goods 5,116.33 6,625.92 (1,509.59) 15,168.85 17,736.40 (2,567.55) 63,183.46 48,014.61 24%5100151 COS-GS-Soft Goods 9,918.74 12,305.28 (2,386.54) 22,510.08 32,938.78 (10,428.70) 107,977.38 85,467.30 21%Cost of Sales - Golf Shop 15,035.07 18,931.20 (3,896.13) 37,678.93 50,675.18 (12,996.25) 171,160.84 133,481.91 22%Gross Profit 16,933.15 13,708.80 3,224.35 34,553.85 36,695.82 (2,141.97) 130,734.16 101,429.25 22%COS % 55.8% 58.0% 2.2% 52.2% 58.0% 5.8% 61.0% 56.8% 7%Expense61-PS-SALARIES & BENEFITS6101175 Employee Meals 391.87 360.00 31.87 1,471.87 1,500.00 (28.13) 3,960.00 2,488.13 37%6101320 Insurance Group 3,282.13 3,000.00 282.13 12,623.34 10,320.00 2,303.34 31,320.00 18,696.66 40%6101325 Insurance-Workers Comp 487.39 1,187.00 (699.61) 2,538.93 4,822.00 (2,283.07) 13,313.00 10,774.07 19%6101720 Salaries 5,153.90 3,333.00 1,820.90 19,225.86 16,665.00 2,560.86 39,992.00 20,766.14 48%6101800 Taxes-Employer Payroll 1,113.22 1,477.00 (363.78) 4,404.54 6,004.00 (1,599.46) 16,575.00 12,170.46 27%6101880 Wages-Hourly 6,113.74 8,533.00 (2,419.26) 29,345.48 31,561.00 (2,215.52) 93,138.00 63,792.52 32%6101882 Wages-Overtime 124.88 - 124.88 650.89 - 650.89 - 952.88 0%Total -PS-SALARIES & BENEFITS 16,667.13 17,890.00 (1,222.87) 70,260.91 70,872.00 (611.09) 198,298.00 129,640.86 35%61-PS-SUPPLIES & MATERIALS6103742 Supplies-Expendable - - - 45.45 - 45.45 - (45.45) 0%Total PS-SUPPLIES & MATERIALS - - - 45.45 - 45.45 - (45.45) 0%61-PS OTHER EXPENSES6103762 Supplies-Office 327.48 100.00 227.48 866.98 1,050.00 (183.02) 1,525.00 658.02 57%6109090 Contract Services - 500.00 (500.00) 1,500.00 2,500.00 (1,000.00) 6,000.00 4,500.00 25%6109197 Equipment Rental 1,593.00 - 1,593.00 1,593.00 - 1,593.00 - (1,593.00) 0%6109220 Freight & Delivery 52.22 25.00 27.22 837.90 50.00 787.90 75.00 (762.90) 1117%6109490 Miscellaneous 606.13 50.00 556.13 691.13 100.00 591.13 450.00 (241.13) 154%6109150 Dues and Subscriptions - - - 156.93 - 156.93 1,500.00 1,343.07 10%6109500 ProShop-Over/Short 106.30 - 106.30 82.63 - 82.63 - (82.63) 0%6109722 Seminars/Training - 100.00 (100.00) 3,510.00 1,650.00 1,860.00 1,960.00 (1,550.00) 179%6109810 Travel - Merchandise 44.62 - 44.62 44.62 - 44.62 90.00 45.38 50%6109820 Uniforms 443.15 100.00 343.15 594.81 500.00 94.81 1,800.00 1,205.19 33%6117840 Telephones 106.67 - 106.67 539.48 - 539.48 - (539.48) 0%6119206 License and Permits - - - - - - - - 0%Total PS-OTHER EXPENSES 3,279.57 875.00 2,404.57 10,417.48 5,850.00 4,567.48 13,400.00 2,982.52 78%Total Expenses 19,946.70 18,765.00 1,181.70 80,723.84 76,722.00 4,001.84 211,698.00 132,623.38 37%Net Income(3,013.55) (5,056.20) 2,042.65 (46,169.99) (40,026.18) (6,143.81) (80,963.84) (31,194.13) -61%Month to Date Year to Date Annual BudgetSilverRock ResortGolf Shop Income StatementNovember 20063 NovemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense63-CM-SALARIES & BENEFITS6311175 Employee Meals 240.00 240.00 - 1,200.00 1,200.00 - 2,880.00 1,680.00 58.3%6311320 Insurance-Group 12,422.93 5,880.00 6,542.93 58,466.68 29,400.00 29,066.68 70,560.00 12,093.32 17.1%6311325 Insurance-Workers Comp 1,566.05 5,690.00 (4,123.95) 20,410.62 30,143.00 (9,732.38) 70,971.00 50,560.38 71.2%6311720 Salaries 16,038.48 11,748.00 4,290.48 58,807.76 58,740.00 67.76 141,000.00 82,192.24 58.3%6311800 Taxes-Employer Payroll 6,417.37 7,084.00 (666.63) 27,318.35 37,938.00 (10,619.65) 89,006.00 61,687.65 69.3%6311880 Wages-Hourly 48,541.68 45,148.00 3,393.68 240,538.37 236,094.00 4,444.37 558,230.00 317,691.63 56.9%6311882 Wages-Overtime 6,053.46 - 6,053.46 25,246.62 9,871.00 15,375.62 15,679.00 (9,567.62) -61.0%Total-CM-SALARIES & BENEFITS91,279.97 75,790.00 15,489.97 431,988.40 403,386.00 28,602.40 948,326.00 516,337.60 54.4%63-CM-SUPPLIES & MATERIALS6313734 Chemicals 2,109.50 - 2,109.50 5,840.40 - 5,840.40 (5,840.40) 0.0%6313744 Fertilizer 7,157.68 5,850.00 1,307.68 34,474.59 28,200.00 6,274.59 54,650.00 20,175.41 36.9%6313746 Flowers/Plants - - - - 1,250.00 (1,250.00) 3,500.00 3,500.00 100.0%6313748 Fuel-Gasoline 6,629.83 3,800.00 2,829.83 18,921.10 19,900.00 (978.90) 40,900.00 21,978.90 53.7%6313750 Golf Course Accessories 1,019.29 200.00 819.29 7,566.58 3,300.00 4,266.58 4,200.00 (3,366.58) -80.2%6313756 POA Control 125.21 3,000.00 (2,874.79) 450.77 3,000.00 (2,549.23) 6,000.00 5,549.23 92.5%6313758 Miscellaneous Supp 180.93 100.00 80.93 1,615.11 500.00 1,115.11 1,200.00 (415.11) -34.6%6313766 Pesticides 566.37 2,000.00 (1,433.63) 6,671.66 6,200.00 471.66 14,900.00 8,228.34 55.2%6313762 Supplies-Office - - - 687.91 - 687.91 - (687.91) 0.0%6313774 Sand - 2,100.00 (2,100.00) 191.79 4,980.00 (4,788.21) 16,660.00 16,468.21 98.8%6313775 Sand-Bunkers - - - 3,552.24 10,000.00 (6,447.76) 10,000.00 6,447.76 64.5%6313776 Seed - 350.00 (350.00) 102,663.07 82,300.00 20,363.07 84,750.00 (17,913.07) -21.1%6313778 Small Tools & Non-Capital Equip - - - 1,193.11 5,900.00 (4,706.89) 6,500.00 5,306.89 81.6%6313780 Sod 77.24 250.00 (172.76) 642.02 3,500.00 (2,857.98) 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 & MATERIALS17,866.05 17,650.00 216.05 187,247.27 170,330.00 16,917.27 252,910.00 65,662.73 26.0%63-CM-REPAIRS & MAINTENANCE6315095 CM-R&M-Contract Lake Maint 783.74 500.00 283.74 6,017.10 5,500.00 517.10 14,000.00 7,982.90 57.0%6315685 CM-R&M-Bldngs & Othr Structures 95.74 - 95.74 701.06 - 701.06 500.00 (201.06) -40.2%6315686 CM-R&M- Drainage - - - 2,898.53 - 2,898.53 - (2,898.53) 0.0%6315690 CM-R&M-Equipment 4,929.66 2,500.00 2,429.66 20,708.04 9,500.00 11,208.04 14,400.00 (6,308.04) -43.8%6315692 CM-R&M-Irrigation System 740.86 900.00 (159.14) 8,685.18 4,600.00 4,085.18 8,450.00 (235.18) -2.8%6315696 CM-R&M-Pumps 218.90 - 218.90 4,304.99 4,000.00 304.99 5,000.00 695.01 13.9%6315815 CM-R&M-Trees-Pruning Etc - - - 3,495.40 3,000.00 495.40 4,000.00 504.60 12.6%Total-CM-REPAIRS & MAINTENANCE 6,768.90 3,900.00 2,868.90 46,810.30 26,600.00 20,210.30 46,350.00 (460.30) -1.0%63-CM-UTILTIES6317830 Utilities-Electricity-Bldngs - 2,070.00 (2,070.00) 17,885.16 11,178.00 6,707.16 22,080.00 4,194.84 19.0%6317836 Utilities-Natural Gas/LPG 22.51 - 22.51 96.56 - 96.56 - (96.56) 0.0%6317840 Telephones 469.31 350.00 119.31 4,622.89 1,750.00 2,872.89 4,200.00 (422.89) -10.1%Total-CM-UTILITIES 491.82 2,420.00 (1,928.18) 22,604.61 12,928.00 9,676.61 26,280.00 3,675.39 14.0%63-CM-OTHER EXPENSES6319020 Auto Mileage/Allowance 500.00 500.00 - 2,500.00 2,500.00 - 6,000.00 3,500.00 58.3%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 2,000.00 2,309.81 18,800.00 14,490.19 77.1%6319102 Greens-Waste Removal - 6,000.00 (6,000.00) 5,067.87 11,900.00 (6,832.13) 14,000.00 8,932.13 63.8%6319150 Dues & Subscriptions - 200.00 (200.00) - 400.00 (400.00) 900.00 900.00 100.0%6319170 Employee Education - 50.00 (50.00) - 250.00 (250.00) 600.00 600.00 100.0%6319197 Equipment Rental 40.95 600.00 (559.05) 1,241.30 2,900.00 (1,658.70) 4,200.00 2,958.70 70.4%6319206 Licenses & Permits - - - - 200.00 (200.00) 1,800.00 1,800.00 100.0%6319490 Miscellaneous - 100.00 (100.00) 465.60 500.00 (34.40) 1,200.00 734.40 61.2%6319500 Propane/Natural Gas - 150.00 (150.00) - 750.00 (750.00) 1,800.00 1,800.00 100.0%6319718 Safety Equipment & Training - 200.00 (200.00) 609.88 2,300.00 (1,690.12) 3,400.00 2,790.12 82.1%6319822 Uniforms 781.47 720.00 61.47 3,207.61 4,350.00 (1,142.39) 9,390.00 6,182.39 65.8%Total-CM-OTHER EXPENSES 1,322.42 8,920.00 (7,597.58) 17,402.07 30,050.00 (12,647.93) 66,090.00 48,687.93 73.7%Month to Date Year to DateSilverRock ResortCourse Maintenance Expense StatementNovember 2006Annual Budget4 NovemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget632-CM-LANDSCAPE MAINTENANCE632-CM-LM-SALARIES & BENEFITS6321320 Insurance-Group 1,480.00 1,104.00 376.00 6,472.63 5,520.00 952.63 13,248.00 6,775.37 0.0%6321325 Insurance-Workers Comp 425.66 1,375.00 (949.34) 2,405.46 6,874.00 (4,468.54) 16,194.00 13,788.54 85.1%6321800 Taxes-Employer Payroll 1,615.26 1,749.00 (133.74) 4,495.41 8,746.00 (4,250.59) 20,426.00 15,930.59 78.0%6321880 Wages-Hourly 13,030.31 13,141.00 (110.69) 40,053.75 65,705.00 (25,651.25) 157,692.00 117,638.25 74.6%6321882 Wages-Overtime 820.58 910.00 (89.42) 4,306.24 4,550.00 (243.76) 6,370.00 2,063.76 32.4%Total-CM-LM-SALARIES & BENEFITS17,371.81 18,279.00 (907.19) 57,733.49 91,395.00 (33,661.51) 213,930.00 149,421.14 69.8%632-CM-LM-SUPPLIES & MATERIALS6323778 Small Tools - 100.00 (100.00) 4,962.30 500.00 4,462.30 1,025.00 (3,937.30) -384.1%6323788 Uniforms 260.51 240.00 20.51 1,012.26 1,200.00 (187.74) 2,880.00 1,867.74 64.9%Total-CM-LM-SUPPLIES & MATERIALS260.51 340.00 (79.49) 5,974.56 1,700.00 4,274.56 3,905.00 (2,069.56) -53.0%632-CM-LM-REPAIRS & MAINTENANCE6325687 CM-LM-R&M-Drip Irrigation - 500.00 (500.00) 779.69 2,000.00 (1,220.31) 4,250.00 3,470.31 81.7%Total-CM-LM-REPAIRS & MAINTENANCE - 500.00 (500.00) 779.69 2,000.00 (1,220.31) 4,250.00 3,470.31 81.7%632-CM-WATER & ENERGY6337834 Utilities-Electricity-Pumping 12,181.68 16,568.00 (4,386.32) 29,869.06 90,424.00 (60,554.94) 183,642.00 153,772.94 83.7%6337842 Utilities-Water3,372.65 1,349.00 2,023.65 7,746.89 7,365.00 381.89 18,126.00 10,379.11 57.3%Total-CM-WATER & ENERGY15,554.33 17,917.00 (2,362.67) 37,615.95 97,789.00 (60,173.05) 201,768.00 164,152.05 81.4%150,915.81 145,716.00 5,199.81 808,156.34 836,178.00 (28,021.66) 1,763,809.00 948,877.29 53.8%Silverrock ResortCourse Maintenance Expense StatementNovember 2006Annual BudgetTotal -COURSE MAINTENANCEMonth to Date Year to Date5 NovemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense641-CBR-SALARIES & BENEFITS6411175 Employee Meals 540.00 540.00 - 2,160.00 2,220.00 (60.00) 6,240.00 4,080.00 65.4%6411320 Insurance-Group 22.24 720.00 (697.76) 4,151.35 3,600.00 551.35 8,640.00 4,488.65 52.0%6411325 Insurance-Workers Comp 326.63 857.00 (530.37) 1,845.83 5,201.00 (3,355.17) 16,944.00 15,098.17 89.1%6411800 Taxes-Employer Payroll 890.12 743.00 147.12 3,575.99 4,509.00 (933.01) 14,690.00 11,114.01 75.7%6411880 Wages-Hourly 8,012.66 5,965.00 2,047.66 30,822.82 36,223.00 (5,400.18) 117,992.00 87,169.18 73.9%6411882 Wages-Overtime 116.85 - 116.85 878.06 - 878.06 - (878.06) 0.0%Total-CBR-SALARIES & BENEFITS9,908.50 8,825.00 1,083.50 43,434.05 51,753.00 (8,318.95) 164,506.00 121,071.95 73.6%641-CBR-SUPPLIES & MATERIALS6413732 Supplies-Carts 23.27 1,000.00 (976.73) 673.10 1,500.00 (826.90) 2,350.00 1,676.90 71.4%6413742 Supplies-Expendable 460.38 1,000.00 (539.62) 1,265.90 4,450.00 (3,184.10) 7,550.00 6,284.10 83.2%6413752 Supplies-Range Balls 5,250.00 6,000.00 (750.00) 5,250.00 6,000.00 (750.00) 6,000.00 750.00 12.5%6413762 Supplies-Office 103.18 50.00 53.18 201.90 175.00 26.90 525.00 323.10 61.5%6413768 Supplies-Printing and Stationary - - - - - - 420.00 420.00 100.0%6413786 Supplies-Towels 585.58 72.00 513.58 3,165.99 1,788.00 1,377.99 2,292.00 (873.99) -38.1%6413796 Supplies-Bottled Water- 1,200.00 (1,200.00) 7,385.13 6,669.00 716.13 22,631.00 15,245.87 67.4%Total-CBR-SUPPLIES & MATERIALS6,422.41 9,322.00 (2,899.59) 17,942.02 20,582.00 (2,639.98) 41,768.00 23,825.98 57.0%641-CBR-REPAIRS & MAINTENANCE6415096 CBR-R&M-Contract Services-Carts 720.00 720.00 - 3,600.00 3,600.00 - 8,640.00 5,040.00 58.3%6415690 CBR-R&M-Equipment 136.01 125.00 11.01 2,997.43 625.00 2,372.43 1,500.00 (1,497.43) -99.8%6415695 CBR-R&M-Cart Maintenance & Repair 1,155.12 250.00 905.12 1,155.12 1,250.00 (94.88) 3,000.00 1,844.88 61.5%Total-CBR-REPAIRS & MAINTENANCE 2,011.13 1,095.00 916.13 7,752.55 5,475.00 2,277.55 13,140.00 5,387.45 41.0%641-CBR-OTHER EXPENSES6419093 Contract Services-Handicaps 30.00 400.00 (370.00) 240.00 1,100.00 (860.00) 5,000.00 4,760.00 95.2%6419094 Contract Services-Laundry/Linen - 155.00 (155.00) - 775.00 (775.00) 1,690.00 1,690.00 100.0%6419220 Freight/Delivery - 75.00 (75.00) 122.17 375.00 (252.83) 900.00 777.83 86.4%6419490 Miscellaneous - 75.00 (75.00) - 425.00 (425.00) 1,150.00 1,150.00 100.0%6419820 Uniforms 2,315.81 500.00 1,815.81 2,315.81 2,500.00 (184.19) 4,625.00 2,309.19 49.9%Total-CBR-OTHER EXPENSES 2,345.81 1,205.00 1,140.81 2,677.98 5,175.00 (2,497.02) 13,365.00 10,687.02 80.0%TOTAL-CARTS,BAGROOM & RANGE 20,687.85 20,447.00 240.85 71,806.60 82,985.00 (11,178.40) 232,779.00 160,972.40 69.2%643-CS-SALARIES & BENEFITS6431175 Employee Meals 300.00 300.00 - 1,080.00 1,140.00 (60.00) 3,120.00 2,040.00 65.4%6431320 Insurance-Group - - - - - - - - 0.0%6431325 Insurance-Workers Comp 149.23 363.00 (213.77) 796.31 1,359.00 (562.69) 4,261.00 3,464.69 81.3%6431800 Taxes-Employer Payroll 413.49 451.00 (37.51) 869.42 1,691.00 (821.58) 5,305.00 4,435.58 83.6%6431880 Wages-Hourly 3,399.83 3,625.00 (225.17) 7,573.46 13,582.00 (6,008.54) 42,611.00 35,037.54 82.2%6431882 Wages-Overtime 27.21 - 27.21 156.60 - 156.60 - (156.60) 0.0%Total-CS-SALARIES & BENEFITS4,289.76 4,739.00 (449.24) 10,475.79 17,772.00 (7,296.21) 55,297.00 44,821.21 81.1%643-CS-OTHER EXPENSES6433742 Supplies Expendable - 100.00 (100.00) 402.89 400.00 2.89 1,050.00 647.11 61.6%6439490 Miscellaneous - 50.00 (50.00) - 100.00 (100.00) 200.00 200.00 100.0%6439718 Safety Equipment & Training - 50.00 (50.00) - 250.00 (250.00) 600.00 600.00 100.0%6439820 Uniforms 788.08 75.00 713.08 788.08 800.00 (11.92) 1,650.00 861.92 52.2%Total-CS-OTHER EXPENSES 788.08 275.00 513.08 1,190.97 1,550.00 (359.03) 3,500.00 2,309.03 66.0%Total-COURSE SERVICES 5,077.84 5,014.00 63.84 11,666.76 19,322.00 (7,655.24) 58,797.00 47,130.24 80.2%TOTAL OUTSIDE SERVICES25,765.69 25,461.00 304.69 83,473.36 102,307.00 (18,833.64) 291,576.00 205,793.61 70.6%Month to Date Year to DateSilverRock ResortOutside Services Expense StatementNovember 2006Annual Budget6 NovemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense65-CH-SUPPLIES & MATERIALS6503742 Supplies-Expendable438.25 400.00 38.25 2,434.12 2,000.00 434.12 4,800.00 2,365.88 49.3%Total-CH-SUPPLIES & MATERIALS 438.25 400.00 38.25 2,434.12 2,000.00 434.12 4,800.00 2,365.88 49.3%65-CH-UTILITIES6507830 Utilities-Electric-Bldgs- 2,512.00 (2,512.00) - 16,791.00 (16,791.00) 42,795.00 42,795.00 100.0%6507836 Utilities-Natural Gas- 200.00 (200.00) 803.92 1,000.00 (196.08) 2,400.00 1,596.08 66.5%6507838 Utilities-Sewer- 200.00 (200.00) - 1,000.00 (1,000.00) 2,400.00 2,400.00 100.0%6507840 Utilities-Telephone1,014.48 675.00 339.48 6,083.08 3,375.00 2,708.08 8,100.00 2,016.92 24.9%6507842 Utilities-Water20.00 200.00 (180.00) 1,006.60 1,000.00 6.60 2,400.00 1,393.40 58.1%6507844 Utilities-Cable601.00 317.00 284.00 1,591.46 1,585.00 6.46 3,800.00 2,208.54 0.0%Total-CH-UTILITIES 1,635.48 4,104.00 (2,468.52) 9,485.06 24,751.00 (15,265.94) 61,895.00 52,409.94 84.7%65-CH-OTHER EXPENSES6509091 Contract Services-Cleaning1,825.00 1,750.00 75.00 9,125.00 8,750.00 375.00 21,000.00 11,875.00 56.5%6509098 Contract Services-Refuse Dispose307.28 400.00 (92.72) 1,644.57 2,000.00 (355.43) 4,800.00 3,155.43 65.7%6509099 Contract Services-Security7,883.12 7,800.00 83.12 42,684.20 39,000.00 3,684.20 93,600.00 50,915.80 54.4%6509215 Flowers & Decorations378.58 100.00 278.58 378.58 500.00 (121.42) 2,600.00 2,221.42 85.4%6509490 Miscellaneous350.81 - 350.81 350.81 - 350.81 - (350.81) 0.0%6509718 Safety Equipment & Training- 100.00 (100.00) - 500.00 (500.00) 1,200.00 1,200.00 100.0%Total-CH-OTHER EXPENSES 10,744.79 10,150.00 594.79 54,183.16 50,750.00 3,433.16 123,200.00 69,016.84 56.0%65-CH-REPAIRS & MAINTENANCE6515685 CH-R&M-Building Structures95.00 200.00 (105.00) 211.91 1,000.00 (788.09) 2,400.00 2,188.09 91.2%6515686 CH-R&M-Restaurant Repairs- 200.00 (200.00) 280.18 1,000.00 (719.82) 2,400.00 2,119.82 88.3%6515690 CH-R&M-Equipment Repair212.53 200.00 12.53 3,389.21 1,000.00 2,389.21 2,400.00 (989.21) -41.2%Total-CH-REPAIRS & MAINTENANCE 307.53 600.00 (292.47) 3,881.30 3,000.00 881.30 7,200.00 3,318.70 46.1%Total CLUBHOUSE13,126.05 15,254.00 (2,127.95) 69,983.64 80,501.00 (10,517.36) 197,095.00 6,637.40 3.4%Month to Date Year to DateSilverRock ResortClubhouse Expense StatementNovember 2006Annual Budget7 NovemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense66-MKT-SALARIES & BENEFITS6601175 Employee Meals 60.00 60.00 - 120.00 300.00 (180.00) 720.00 600.00 83.3%6601320 Insurance-Group - 150.00 (150.00) 306.21 750.00 (443.79) 1,800.00 1,493.79 83.0%6601325 Insurance-Workers Comp - 317.00 (317.00) 788.83 1,585.00 (796.17) 3,800.00 3,011.17 79.2%6601720 Salaries 4,307.68 3,167.00 1,140.68 8,346.23 15,835.00 (7,488.77) 38,004.00 29,657.77 78.0%6601800 Taxes-Employer Payroll 333.86 394.00 (60.14) 644.97 1,970.00 (1,325.03) 4,731.00 4,086.03 86.4%Total-MKT-SALARIES & BENEFITS 4,701.54 4,088.00 613.54 10,206.24 20,440.00 (10,233.76) 49,055.00 38,848.76 79.2%66-MKT-SUPPLIES & MATERIALS6603080 Collateral Material 507.57 1,000.00 (492.43) 1,616.24 3,500.00 (1,883.76) - (1,616.24) 0.0%6603762 Supplies-Office 50.29 100.00 (49.71) 381.44 500.00 (118.56) 1,200.00 818.56 68.2%6603768 Supplies-Printing & Stationery - 200.00 (200.00) 242.94 3,400.00 (3,157.06) 4,425.00 4,182.06 94.5%557.86 1,300.00 (742.14) 2,240.62 7,400.00 (5,159.38) 5,625.00 3,384.38 60.2%66-MKT-UTILITIES6607840 Utilities-Telephone 88.59 100.00 (11.41) 501.20 500.00 1.20 1,200.00 698.80 58.2%Total-MKT-UTILITIES 88.59 100.00 (11.41) 501.20 500.00 1.20 1,200.00 698.80 58.2%66-MKT-OTHER EXPENSES6609010 Advertising 26,249.51 26,818.00 (568.49) 83,423.84 77,061.00 6,362.84 175,290.00 91,866.16 52.4%6609040 Business Meals 25.20 25.00 0.20 25.20 125.00 (99.80) 300.00 274.80 91.6%6609080 Collateral Material 2,427.21 - 2,427.21 2,427.21 - 2,427.21 9,000.00 6,572.79 73.0%6609102 Contract Services-Web Page - 175.00 (175.00) 396.00 875.00 (479.00) 2,100.00 1,704.00 81.1%6609490 Miscellaneous - 50.00 (50.00) - 50.00 (50.00) 350.00 350.00 100.0%6609620 Postage - 50.00 (50.00) 174.28 250.00 (75.72) 600.00 425.72 71.0%6609630 Promotion 200.00 50.00 150.00 240.42 100.00 140.42 - (240.42) 0.0%6609633 Promotion-Community - 750.00 (750.00) 46.00 1,725.00 (1,679.00) 2,925.00 2,879.00 98.4%6609634 Promotion-Media/Vender - - - - - - 700.00 - 0.0%6609150 Dues and Subscriptions - - - - - - 735.00 735.00 0.0%6609820 Uniforms - 50.00 (50.00) 79.10 350.00 (270.90) 600.00 520.90 86.8%Total-MKT-OTHER EXPENSES 28,901.92 27,968.00 933.92 86,812.05 80,536.00 6,276.05 192,600.00 105,087.95 54.6%Total-MARKETING34,249.91 33,456.00 793.91 99,760.11 108,876.00 (9,115.89) 248,480.00 148,019.89 59.6%Month to Date Year to DateSilverRock ResortMarketing Expense StatementNovember 2006Annual Budget8 NovemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense67-G&A-SALARIES & BENEFITS6701175 Employee Meals 180.00 180.00 - 900.00 900.00 - 2,160.00 1,260.00 58.3%6701320 Insurance-Group1,633.17 2,280.00 (646.83) 7,851.86 11,400.00 (3,548.14) 27,360.00 19,508.14 71.3%6701325 Insurance-Workers Comp1,002.46 1,598.00 (595.54) 5,712.14 7,990.00 (2,277.86) 19,176.00 13,463.86 70.2%6701720 Salaries 14,557.17 13,250.00 1,307.17 63,445.61 66,250.00 (2,804.39) 159,000.00 95,554.39 60.1%6701800 Taxes-Employer Payroll 1,663.97 1,989.00 (325.03) 6,217.93 9,945.00 (3,727.07) 23,874.00 17,656.07 74.0%6701880 Wages-Hourly3,389.32 2,730.00 659.32 13,768.63 13,650.00 118.63 32,756.00 18,987.37 58.0%6701882 Wages-Overtime - - - 418.50 - 418.50 - (418.50) 0.0%Total-G&A-SALARIES & BENEFITS 22,426.09 22,027.00 399.09 98,314.67 110,135.00 (11,820.33) 264,326.00 166,011.33 62.8%67-G&A-SUPPLIES & MATERIALS6703740 Supplies-Computer104.48 500.00 (395.52) 444.92 2,500.00 (2,055.08) 6,000.00 5,555.08 92.6%6703762 Supplies-Office 159.43 125.00 34.43 675.26 625.00 50.26 1,500.00 824.74 55.0%6703768 Supplies-Printing & Stationery291.89 100.00 191.89 709.04 400.00 309.04 3,200.00 2,490.96 77.8%6703778Supplies-Small Tools/Non-Capital - 100.00 (100.00) - 300.00 (300.00) 900.00 900.00 100.0%Total-G&A-SUPPLIES & MATERIALS 555.80 825.00 (269.20) 1,829.22 3,825.00 (1,995.78) 11,600.00 9,770.78 84.2%67-G&A-REPAIRS & MAINTENANCE6705690 Repairs & Maintenance-Equipment255.00 100.00 155.00 1,232.50 500.00 732.50 1,200.00 (32.50) -2.7%Total-G&A-REPAIRS & MAINTENANCE 255.00 100.00 155.00 1,232.50 500.00 732.50 1,200.00 (32.50) -2.7%67-G&A-OTHER EXPENSES6709020 Auto/Mileage Allowance400.00 400.00 - 2,000.00 2,000.00 - 4,800.00 2,800.00 58.3%6709090 Contract Services75.00 - 75.00 75.00 - 75.00 - - 0.0%6709150 Dues & Subscriptions- 50.00 (50.00) - 350.00 (350.00) 1,500.00 1,500.00 100.0%6709180 Employee Recruiting/Relocation415.88 500.00 (84.12) 1,174.98 1,500.00 (325.02) 2,000.00 825.02 41.3%6709197 Equipment Rental412.28 350.00 62.28 1,886.95 1,750.00 136.95 4,200.00 2,313.05 55.1%6709202 Fees-Bank395.00 300.00 95.00 770.50 1,500.00 (729.50) 3,600.00 2,829.50 78.6%6709208 Fees-Payroll Processing581.00 550.00 31.00 2,481.88 2,750.00 (268.12) 6,600.00 4,118.12 0.0%6709220 Freight/Delivery20.02 50.00 (29.98) 282.37 250.00 32.37 600.00 317.63 52.9%6709490 Miscellaneous - 100.00 (100.00) 438.83 500.00 (61.17) 1,200.00 761.17 63.4%6709620 Postage/Mail Services 148.77 75.00 73.77 326.25 375.00 (48.75) 900.00 573.75 63.8%6709625 Professional Fees- 400.00 (400.00) 3,305.00 2,000.00 1,305.00 4,800.00 1,495.00 31.1%6709636 Promotion/Entertainment- 100.00 (100.00) - 500.00 (500.00) 1,200.00 1,200.00 100.0%6709722 Seminars & Training- 100.00 (100.00) 250.00 500.00 (250.00) 900.00 650.00 72.2%6709810 Travel - - - 120.99 100.00 20.99 1,100.00 979.01 89.0%6709820 Uniforms - 150.00 (150.00) 53.63 525.00 (471.37) 1,050.00 996.37 94.9%Total-G&A-OTHER EXPENSES 2,447.95 3,125.00 (677.05) 13,166.38 14,600.00 (1,433.62) 34,450.00 21,358.62 62.0%Total-GENERAL & ADMINISTRATIVE25,684.84 26,077.00 (392.16) 114,542.77 129,060.00 (14,517.23) 311,576.00 197,108.23 63.3%Month to Date Year to DateSilverRock ResortGeneral & Administrative Expense StatementNovember 2006Annual Budget9 NovemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense68-LEASES6800192 Equipment Leases-Carts 10,580.46 9,800.00 780.46 42,663.90 49,000.00 (6,336.10) 117,600.00 74,936.10 63.7%6800193 Equipment Leases-Course Maint 17,492.11 20,000.00 (2,507.89) 107,796.34 100,000.00 7,796.34 240,000.00 132,203.66 55.1%6800194 Equipment Leases-Trailer 105.00 600.00 (495.00) 1,575.64 3,000.00 (1,424.36) 7,200.00 5,624.36 78.1%6800195 Equipment Leases-Software 1,762.93 1,525.00 237.93 7,254.65 7,625.00 (370.35) 18,300.00 11,045.35 60.4%6800196 Equipment Leases-GPS 7,370.25 7,400.00 (29.75) 31,790.48 37,000.00 (5,209.52) 88,800.00 57,009.52 64.2%Total-LEASES37,310.75 39,325.00 (2,014.25) 191,081.01 196,625.00 (5,543.99) 471,900.00 280,818.99 59.5%69-MISC OTHER EXPENSES6900096 Contract Srvcs-Management Fee 7,715.48 8,237.00 (521.52) 54,739.17 72,289.00 (17,549.83) 125,196.00 70,456.83 56.3%6900210 FF&E Reserve 6,313.57 6,028.00 285.57 12,459.93 14,931.00 (2,471.07) 67,426.00 54,966.07 81.5%6900211 Personal Property Taxes20,000.00 20,000.00 100.0%6900323 Insurance-Commercial 8,055.66 4,200.00 3,855.66 8,723.40 21,000.00 (12,276.60) 50,400.00 41,676.60 82.7%Total-MISC OTHER EXPENSES22,084.71 18,465.00 3,619.71 75,922.50 108,220.00 (32,297.50) 263,022.00 187,099.50 71.1% Operating Leases & Miscellaneous Other Expense StatementNovember 2006Annual BudgetMonth to Date Year to Date10 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report‐2006‐20072006 2006 2006 2006 2006 2006Comp CategoryJulyAugustSeptemberOctoberNovemberDecemberMedia6158 018Sales72784Promotion42300Golf Industry20 21 15 9 17VIP60000Celebrity00000PGA Comp27 28 60 2 16Charity/Gift Certificate624370 0Rain/Wind Checks000028Club Staff20 17 44 2 22LQ HS Golf0003096 109 174 24 105 011 SilverRock Resort-Arnold Palmer Classic Course Comp Golf Report‐2006‐2007 November 2007 11/12/2006 7:15 Gary Stone-Radio Media 2 11/13/2006 10:45 Porcellato - CBS Media 4 11/13/2006 12:45 Garman - Golfswitch Promotion Sales 4 11/19/2006 7:45 Rennie - CBS Media 4 11/21/2006 9:07 Dutchin - KMIR Media 4 11/26/2006 7:00 Evans - CBS Media 4 12