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03 September 2006 SilverRock Resort - Monthly Financial Statement
Monthly Financial Statements July 2006 – September 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 SeptemberFinal Budget Variance Percentages Unfavorable (-) Favorable (+) Final Budget Variance Annual Budget Unemcumb. % Bdgt Income400000 Golf Green Fee Revenue 145,802.25 129,276.00 16,526.25 12.8% 293,405.36 298,054.00 (4,648.64) 2,985,870.00 2,692,464.64 10%401000 Miscellaneous Golf Revenue 4,137.00 4,024.00 113.00 2.8% 13,912.00 10,972.00 2,940.00 62,181.00 48,269.00 22%410000 Revenue-Golf Shop 15,014.21 20,160.00 (5,145.79) -25.5% 32,202.87 46,480.00 (14,277.13) 311,248.00 279,045.13 10%420000 Revenue-F&B Concession 500.00 500.00 - 0.0% 1,500.00 1,500.00 - 12,000.00 10,500.00 13%890000 Interest Income 19.03 - 19.03 0.0% 78.51 - 78.51 - (78.51) Total Income 165,472.49 153,960.00 11,512.49 7.5% 341,098.74 357,006.00 (15,907.26) 3,371,299.00 3,030,200.26 10%Cost of Goods Sold510000 COS-Golf Shop 8,080.32 11,692.80 (3,612.48) 30.9% 18,197.64 26,958.40 8,760.76 180,513.00 162,315.36 10%Total COS 8,080.32 11,692.80 (3,612.48) 30.9% 18,197.64 26,958.40 8,760.76 180,513.00 162,315.36 10%Gross Profit 157,392.17 142,267.20 15,124.97 10.6% 322,901.10 330,047.60 (7,146.50) 3,190,786.00 2,867,884.90 10%610000 Golf Pro Shop 16,825.29 15,796.00 (1,029.29) -6.5% 44,469.42 44,980.00 510.58 211,697.00 167,227.58 21%630000 Course Maintenance 141,461.58 147,743.00 6,281.42 4.3% 388,122.73 426,221.00 38,098.27 1,739,809.00 1,351,686.27 22%640000 Outside Services 15,355.25 20,776.00 5,420.75 26.1% 42,161.82 58,504.00 16,342.18 291,576.00 249,414.18 14%650000 Clubhouse 16,894.00 15,910.00 (984.00) -6.2% 40,880.35 49,993.00 9,112.65 197,095.00 156,214.65 21%660000 Marketing 18,259.30 22,068.00 3,808.70 17.3% 41,911.80 43,214.00 1,302.20 248,481.00 206,569.20 17%670000 General & Administrative 21,685.05 26,152.00 4,466.95 17.1% 64,302.10 76,906.00 12,603.90 311,576.00 247,273.90 21%680000 Leases 42,831.38 39,325.00 (3,506.38) -8.9% 107,735.22 117,975.00 10,239.78 471,900.00 364,164.78 23%690000 Miscellaneous Other Expense 9,312.86 19,323.00 10,010.14 51.8% 46,337.79 68,770.00 22,432.21 263,021.00 216,683.21 18%Total Expenses 282,624.71 307,093.00 24,468.29 8.0% 775,921.23 886,563.00 110,641.77 3,735,155.00 2,959,233.77 21%Net Income(125,232.54) (164,825.80) 39,593.26 24.0%(453,020.13) (556,515.40) 103,495.27 (544,369.00) (91,348.87) 83%Rounds of Golf PlayedRounds Played 3,336 2,880 456 15.8% 6,915 6,640 275 39,220 32,305 18%Ave $ Per Round Green Fee 43.71 44.89 (1.18) -2.6% 42.43 44.89 (2.46) 76.13 34 56%Ave $ Per Round Merchandise 4.50 7.00 (2.50) -35.7% 4.66 7.00 (2.34) 7.94 3 59%Ave $ Per Miscellaneous 1.24 1.40 (0.16) -11.2% 2.01 1.65 0.36 1.59 - 0%September 2006SilverRock ResortSummary Operating Income Statement1 Income SeptemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4000000 Revenue-Fees 145,802.25 129,276.00 16,526.25 293,405.36 298,054.00 (4,648.64) 2,985,870.00 2,692,464.64 10%4010000 Rider Fee 475.00 - 475.00 625.00 - 625.00 0.00 0.00 0%4040000 Club Rental 1,460.00 864.00 596.00 2,235.00 1,992.00 243.00 11,766.00 9,531.00 19%4050000 Driving Range 2,202.00 2,160.00 42.00 4,452.00 4,980.00 (528.00) 29,415.00 24,963.00 15%4060000 Handicap Fees - - - 200.00 - 200.00 8,000.00 7,800.00 3%4080000 GPS Advertising - 1,000.00 (1,000.00) 6,400.00 3,000.00 3,400.00 9,000.00 2,600.00 71%4090000 Ball Retriever/Subcontract - - - - 1,000.00 (1,000.00) 4,000.00 4,000.00 0% Total Revenue Fees 149,939.25 133,300.00 16,639.25 307,317.36 309,026.00 (1,708.64) 3,048,051.00 2,741,358.64 10%Total Income149,939.25 133,300.00 16,639.25 307,317.36 309,026.00 (1,708.64) 3,048,051.00 2,741,358.64 10%SilverRock ResortStatement of Fees RevenueSeptember 2006Month to Date Year to Date Annual Budget2 Income SeptemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4100000 Sales Miscellaneous 515.64 - 515.64 (162.56) - (162.56) 4100110 Sales Hard Goods 7,091.32 7,056.00 35.32 14,816.54 16,268.00 (1,451.46) 108,937.00 94,120.46 14%4100112 Sales-Soft Goods 9,480.99 13,104.00 (3,623.01) 22,707.72 30,212.00 (7,504.28) 202,311.00 179,603.28 11%5100639 GS-Discounts-Mdse (2,073.74) - (2,073.74) (5,158.83) - (5,158.83) (9,353.00) (4,194.17) -55% Total Revenue Golf Shop 15,014.21 20,160.00 (5,145.79) 32,202.87 46,480.00 (14,277.13) 301,895.00 269,529.57 11%COS 5100150 COS-GS-Hard Goods 3,834.96 4,092.48 (257.52) 8,084.06 9,435.44 (1,351.38) 63,183.46 55,099.40 13%5100151 COS-GS-Soft Goods 4,245.36 7,600.32 (3,354.96) 10,113.58 17,522.96 (7,409.38) 107,977.38 97,863.80 9%Cost of Sales - Golf Shop 8,080.32 11,692.80 (3,612.48) 18,197.64 26,958.40 (8,760.76) 171,160.84 152,963.20 11%Gross Profit 6,933.89 8,467.20 (1,533.31) 14,005.23 19,521.60 (5,516.37) 130,734.16 116,566.37 11%COS % 55.7% 58.0% 2.3% 56.5% 58.0% 1.5% 61.0% 56.8% 7%Expense61-PS-SALARIES & BENEFITS6101175 Employee Meals 240.00 300.00 (60.00) 720.00 780.00 (60.00) 3,960.00 3,240.00 18%6101320 Insurance Group 2,523.03 1,440.00 1,083.03 7,124.39 4,320.00 2,804.39 31,320.00 24,195.61 23%6101325 Insurance-Workers Comp 566.73 1,074.00 (507.27) 1,700.19 2,986.00 (1,285.81) 13,313.00 11,612.81 13%6101720 Salaries 5,153.90 3,333.00 1,820.90 10,384.70 9,999.00 385.70 39,992.00 29,607.30 26%6101800 Taxes-Employer Payroll 871.39 1,338.00 (466.61) 2,405.62 3,720.00 (1,314.38) 16,575.00 14,169.38 15%6101880 Wages-Hourly 5,682.11 7,411.00 (1,728.89) 17,664.68 19,875.00 (2,210.32) 93,138.00 75,473.32 19%6101882 Wages-Overtime 158.63 - 158.63 369.80 - 369.80 - 952.88 0%Total -PS-SALARIES & BENEFITS 15,195.79 14,896.00 299.79 40,369.38 41,680.00 (1,310.62) 198,298.00 159,251.30 20%61-PS-SUPPLIES & MATERIALS6103742 Supplies-Expendable 5.05 - 5.05 9.31 - 9.31 - (9.31) 0%Total PS-SUPPLIES & MATERIALS 5.05 - 5.05 9.31 - 9.31 - (9.31) 0%61-PS OTHER EXPENSES6103762 Supplies-Office 241.77 150.00 91.77 355.61 450.00 (94.39) 1,525.00 1,169.39 23%6109090 Contract Services 500.00 500.00 - 1,000.00 1,500.00 (500.00) 6,000.00 5,000.00 17%6109197 Equipment Rental - - - - - - - - 0%6109220 Freight & Delivery 584.04 - 584.04 630.92 - 630.92 75.00 (555.92) 841%6109490 Miscellaneous - - - - - - 450.00 450.00 0%6109150 Dues and Subscriptions 156.93 - 156.93 156.93 - 156.93 1,500.00 1,343.07 10%6109500 ProShop-Over/Short (51.45) - (51.45) (66.70) - (66.70) - 66.70 0%6109722 Seminars/Training - 150.00 (150.00) 1,600.00 1,050.00 550.00 1,960.00 360.00 82%6109810 Travel - Merchandise - - - - - - 90.00 90.00 0%6109820 Uniforms 89.38 100.00 (10.62) 89.38 300.00 (210.62) 1,800.00 1,710.62 5%6117840 Telephones 103.78 - 103.78 324.59 - 324.59 - (324.59) 0%6119206 License and Permits - - - - - - - - 0%Total PS-OTHER EXPENSES 1,624.45 900.00 724.45 4,090.73 3,300.00 790.73 13,400.00 9,309.27 31%Total Expenses 16,825.29 15,796.00 1,029.29 44,469.42 44,980.00 (510.58) 211,698.00 168,560.57 20%Net Income(9,891.40) (7,328.80) (2,562.60) (30,464.19) (25,458.40) (5,005.79) (80,963.84) (51,994.20) -36%Month to Date Year to Date Annual BudgetSilverRock ResortGolf Shop Income StatementSeptember 20063 SeptemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense63-CM-SALARIES & BENEFITS6311175 Employee Meals 240.00 240.00 - 720.00 720.00 - 2,880.00 2,160.00 75.0%6311320 Insurance-Group 11,400.94 5,880.00 5,520.94 33,276.18 17,640.00 15,636.18 70,560.00 37,283.82 52.8%6311325 Insurance-Workers Comp 4,968.16 5,690.00 (721.84) 14,681.04 17,070.00 (2,388.96) 70,971.00 56,289.96 79.3%6311720 Salaries 10,692.32 11,748.00 (1,055.68) 32,076.96 35,244.00 (3,167.04) 141,000.00 108,923.04 77.3%6311800 Taxes-Employer Payroll 4,851.35 7,084.00 (2,232.65) 14,598.69 21,252.00 (6,653.31) 89,006.00 74,407.31 83.6%6311880 Wages-Hourly 46,575.29 45,148.00 1,427.29 135,872.95 135,444.00 428.95 558,230.00 422,357.05 75.7%6311882 Wages-Overtime 1,134.42 - 1,134.42 1,747.57 - 1,747.57 15,679.00 13,931.43 88.9%Total-CM-SALARIES & BENEFITS79,862.48 75,790.00 4,072.48 232,973.39 227,370.00 5,603.39 948,326.00 715,352.61 75.4%63-CM-SUPPLIES & MATERIALS6313734 Chemicals (164.00) - (164.00) 2,423.99 - 2,423.99 (2,423.99) 0.0%6313744 Fertilizer 3,942.62 4,000.00 (57.38) 14,555.63 12,000.00 2,555.63 54,650.00 40,094.37 73.4%6313746 Flowers/Plants - 1,000.00 (1,000.00) - 1,000.00 (1,000.00) 3,500.00 3,500.00 100.0%6313748 Fuel-Gasoline 4,240.91 3,400.00 840.91 10,157.82 10,200.00 (42.18) 40,900.00 30,742.18 75.2%6313750 Golf Course Accessories 519.94 200.00 319.94 1,390.10 600.00 790.10 4,200.00 2,809.90 66.9%6313756 POA Control 162.78 - 162.78 325.56 - 325.56 6,000.00 5,674.44 94.6%6313758 Miscellaneous Supp 915.38 100.00 815.38 988.42 300.00 688.42 1,200.00 211.58 17.6%6313766 Pesticides 2,050.16 900.00 1,150.16 2,858.07 2,200.00 658.07 14,900.00 12,041.93 80.8%6313762 Supplies-Office 310.78 - 310.78 402.29 - 402.29 - (402.29) 0.0%6313774 Sand - - - 191.79 780.00 (588.21) 16,660.00 16,468.21 98.8%6313775 Sand-Bunkers 3,200.00 10,000.00 (6,800.00) 3,200.00 10,000.00 (6,800.00) 10,000.00 6,800.00 68.0%6313776 Seed - 250.00 (250.00) 875.47 950.00 (74.53) 84,750.00 83,874.53 99.0%6313778 Small Tools & Non-Capital Equip 65.73 5,550.00 (5,484.27) 1,111.55 5,900.00 (4,788.45) 6,500.00 5,388.45 82.9%6313780 Sod 282.39 1,000.00 (717.61) 564.78 3,000.00 (2,435.22) 5,750.00 5,185.22 90.2%6313782 Topdressing - - - 2,776.92 1,300.00 1,476.92 3,900.00 1,123.08 28.8%Total-CM-SUPPLIES & MATERIALS15,526.69 26,400.00 (10,873.31) 41,822.39 48,230.00 (6,407.61) 252,910.00 211,087.61 83.5%63-CM-REPAIRS & MAINTENANCE6315095 CM-R&M-Contract Lake Maint 1,252.49 1,500.00 (247.51) 5,233.36 4,500.00 733.36 14,000.00 8,766.64 62.6%6315685 CM-R&M-Bldngs & Othr Structures 109.00 - 109.00 526.32 - 526.32 500.00 (26.32) -5.3%6315686 CM-R&M- Drainage - - - 1,703.81 - 1,703.81 - (1,703.81) 0.0%6315690 CM-R&M-Equipment 5,392.90 1,500.00 3,892.90 12,416.25 3,500.00 8,916.25 14,400.00 1,983.75 13.8%6315692 CM-R&M-Irrigation System 2,212.21 900.00 1,312.21 5,885.33 2,000.00 3,885.33 8,450.00 2,564.67 30.4%6315696 CM-R&M-Pumps 1,240.00 1,000.00 240.00 2,243.42 3,000.00 (756.58) 5,000.00 2,756.58 55.1%6315815 CM-R&M-Trees-Pruning Etc165.40 - 165.40 3,495.40 - 3,495.40 4,000.00 504.60 12.6%Total-CM-REPAIRS & MAINTENANCE 10,372.00 4,900.00 5,472.00 31,503.89 13,000.00 18,503.89 46,350.00 14,846.11 32.0%63-CM-UTILTIES6317830 Utilities-Electricity-Bldngs 7,261.63 1,765.00 5,496.63 17,885.16 7,190.00 10,695.16 22,080.00 4,194.84 19.0%6317836 Utilities-Natural Gas/LPG 51.03 - 51.03 74.05 - 74.05 - (74.05) 0.0%6317840 Telephones 981.99 350.00 631.99 2,890.52 1,050.00 1,840.52 4,200.00 1,309.48 31.2%Total-CM-UTILITIES 8,294.65 2,115.00 6,179.65 20,849.73 8,240.00 12,609.73 26,280.00 5,430.27 20.7%63-CM-OTHER EXPENSES6319020 Auto Mileage/Allowance 500.00 500.00 - 1,500.00 1,500.00 - 6,000.00 4,500.00 75.0%6319100 Contract Svcs-Soil/Tissue Test - 2,000.00 (2,000.00) - 2,000.00 (2,000.00) 4,000.00 4,000.00 100.0%6319101 Contract Svcs-Trash Removal 450.32 400.00 50.32 3,937.32 1,200.00 2,737.32 18,800.00 14,862.68 79.1%6319102 Greens-Waste Removal 1,523.37 300.00 1,223.37 3,022.74 900.00 2,122.74 14,000.00 10,977.26 78.4%6319150 Dues & Subscriptions - - - - 200.00 (200.00) 900.00 900.00 100.0%6319170 Employee Education 250.00 50.00 200.00 250.00 150.00 100.00 600.00 350.00 58.3%6319197 Equipment Rental 81.90 150.00 (68.10) 122.85 500.00 (377.15) 4,200.00 4,077.15 97.1%6319206 Licenses & Permits - - - - 200.00 (200.00) 1,800.00 1,800.00 100.0%6319490 Miscellaneous - 100.00 (100.00) 368.41 300.00 68.41 1,200.00 831.59 69.3%6319500 Propane/Natural Gas - 150.00 (150.00) - 450.00 (450.00) 1,800.00 1,800.00 100.0%6319718 Safety Equipment & Training - 1,700.00 (1,700.00) 119.14 1,900.00 (1,780.86) 3,400.00 3,280.86 96.5%6319822 Uniforms 625.80 720.00 (94.20) 1,994.37 2,160.00 (165.63) 9,390.00 7,395.63 78.8%Total-CM-OTHER EXPENSES 3,431.39 6,070.00 (2,638.61) 11,314.83 11,460.00 (145.17) 66,090.00 54,775.17 82.9%Month to Date Year to DateSilverRock ResortCourse Maintenance Expense StatementSeptember 2006Annual Budget4 SeptemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget632-CM-LANDSCAPE MAINTENANCE632-CM-LM-SALARIES & BENEFITS6321320 Insurance-Group 998.00 1,104.00 (106.00) 2,994.63 3,312.00 (317.37) 13,248.00 10,253.37 0.0%6321325 Insurance-Workers Comp 494.95 1,375.00 (880.05) 1,484.85 4,003.00 (2,518.15) 16,194.00 14,709.15 90.8%6321800 Taxes-Employer Payroll 640.25 1,749.00 (1,108.75) 1,466.70 5,021.00 (3,554.30) 20,426.00 18,959.30 92.8%6321880 Wages-Hourly 6,647.44 13,141.00 (6,493.56) 15,663.44 39,423.00 (23,759.56) 157,692.00 142,028.56 90.1%6321882 Wages-Overtime 293.25 910.00 (616.75) 386.63 910.00 (523.37) 6,370.00 5,983.37 93.9%Total-CM-LM-SALARIES & BENEFITS9,073.89 18,279.00 (9,205.11) 21,996.25 52,669.00 (30,672.75) 213,930.00 181,680.38 84.9%632-CM-LM-SUPPLIES & MATERIALS6323778 Small Tools 711.93 100.00 611.93 4,962.30 300.00 4,662.30 1,025.00 (3,937.30) -384.1%6323788 Uniforms 141.59 240.00 (98.41) 619.10 720.00 (100.90) 2,880.00 2,260.90 78.5%Total-CM-LM-SUPPLIES & MATERIALS853.52 340.00 513.52 5,581.40 1,020.00 4,561.40 3,905.00 (1,676.40) -42.9%632-CM-LM-REPAIRS & MAINTENANCE6325687 CM-LM-R&M-Drip Irrigation - 500.00 (500.00) 415.38 1,000.00 (584.62) 4,250.00 3,834.62 90.2%Total-CM-LM-REPAIRS & MAINTENANCE - 500.00 (500.00) 415.38 1,000.00 (584.62) 4,250.00 3,834.62 90.2%632-CM-WATER & ENERGY6337834 Utilities-Electricity-Pumping 12,130.91 12,775.00 (644.09) 17,513.40 59,185.00 (41,671.60) 183,642.00 166,128.60 90.5%6337842 Utilities-Water1,916.05 574.00 1,342.05 4,152.07 4,047.00 105.07 18,126.00 13,973.93 77.1%Total-CM-WATER & ENERGY14,046.96 13,349.00 697.96 21,665.47 63,232.00 (41,566.53) 201,768.00 180,102.53 89.3%Total -COURSE MAINTENANCE141,461.58 147,743.00 (6,281.42) 388,122.73 426,221.00 (38,098.27) 1,763,809.00 1,365,432.90 77.4%Month to Date Year to DateSilverrock ResortCourse Maintenance Expense StatementSeptember 2006Annual Budget5 SeptemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense641-CBR-SALARIES & BENEFITS6411175 Employee Meals 420.00 420.00 - 1,200.00 1,260.00 (60.00) 6,240.00 5,040.00 80.8%6411320 Insurance-Group 864.24 720.00 144.24 3,264.87 2,160.00 1,104.87 8,640.00 5,375.13 62.2%6411325 Insurance-Workers Comp 379.80 1,293.00 (913.20) 1,139.40 3,879.00 (2,739.60) 16,944.00 15,804.60 93.3%6411800 Taxes-Employer Payroll 562.91 1,121.00 (558.09) 1,768.96 3,363.00 (1,594.04) 14,690.00 12,921.04 88.0%6411880 Wages-Hourly 5,511.03 9,006.00 (3,494.97) 15,655.09 27,018.00 (11,362.91) 117,992.00 102,336.91 86.7%6411882 Wages-Overtime 179.86 - 179.86 241.22 - 241.22 - (241.22) 0.0%Total-CBR-SALARIES & BENEFITS7,917.84 12,560.00 (4,642.16) 23,269.54 37,680.00 (14,410.46) 164,506.00 141,236.46 85.9%641-CBR-SUPPLIES & MATERIALS6413732 Supplies-Carts - - - - - - 2,350.00 2,350.00 100.0%6413742 Supplies-Expendable 387.49 150.00 237.49 805.52 450.00 355.52 7,550.00 6,744.48 89.3%6413752 Supplies-Range Balls - - - - - - 6,000.00 6,000.00 100.0%6413762 Supplies-Office 98.72 25.00 73.72 98.72 75.00 23.72 525.00 426.28 81.2%6413768 Supplies-Printing and Stationary - - - - - - 420.00 420.00 100.0%6413786 Supplies-Towels 1,014.51 72.00 942.51 2,233.94 216.00 2,017.94 2,292.00 58.06 2.5%6413796 Supplies-Bottled Water4,055.14 1,620.00 2,435.14 6,910.94 4,800.00 2,110.94 22,631.00 15,720.06 69.5%Total-CBR-SUPPLIES & MATERIALS5,555.86 1,867.00 3,688.86 10,049.12 5,541.00 4,508.12 41,768.00 31,718.88 75.9%641-CBR-REPAIRS & MAINTENANCE6415096 CBR-R&M-Contract Services-Carts - 720.00 (720.00) 1,440.00 1,440.00 - 8,640.00 7,200.00 83.3%6415690 CBR-R&M-Equipment 173.23 125.00 48.23 1,790.47 375.00 1,415.47 1,500.00 (290.47) -19.4%6415695 CBR-R&M-Cart Maintenance & Repair - 250.00 (250.00) 720.00 30.00 690.00 3,000.00 2,280.00 76.0%Total-CBR-REPAIRS & MAINTENANCE 173.23 1,095.00 (921.77) 3,950.47 1,845.00 2,105.47 13,140.00 9,189.53 69.9%641-CBR-OTHER EXPENSES6419093 Contract Services-Handicaps 60.00 100.00 (40.00) 180.00 300.00 (120.00) 5,000.00 4,820.00 96.4%6419094 Contract Services-Laundry/Linen - 155.00 (155.00) - 465.00 (465.00) 1,690.00 1,690.00 100.0%6419220 Freight/Delivery - 75.00 (75.00) - 225.00 (225.00) 900.00 900.00 100.0%6419490 Miscellaneous - 75.00 (75.00) - 275.00 (275.00) 1,150.00 1,150.00 100.0%6419820 Uniforms - 75.00 (75.00) - 225.00 (225.00) 4,625.00 4,625.00 100.0%Total-CBR-OTHER EXPENSES 60.00 480.00 (420.00) 180.00 1,490.00 (1,310.00) 13,365.00 13,185.00 98.7%TOTAL-CARTS,BAGROOM & RANGE 13,706.93 16,002.00 (2,295.07) 37,449.13 46,556.00 (9,106.87) 232,779.00 195,329.87 83.9%643-CS-SALARIES & BENEFITS6431175 Employee Meals 180.00 240.00 (60.00) 540.00 600.00 (60.00) 3,120.00 2,580.00 82.7%6431320 Insurance-Group - - - - - - - - 0.0%6431325 Insurance-Workers Comp 161.77 352.00 (190.23) 485.31 880.00 (394.69) 4,261.00 3,775.69 88.6%6431800 Taxes-Employer Payroll 138.42 438.00 (299.58) 308.29 1,096.00 (787.71) 5,305.00 4,996.71 94.2%6431880 Wages-Hourly 1,139.25 3,519.00 (2,379.75) 3,016.88 8,797.00 (5,780.12) 42,611.00 39,594.12 92.9%6431882 Wages-Overtime 28.88 - 28.88 40.13 - 40.13 - (40.13) 0.0%Total-CS-SALARIES & BENEFITS1,648.32 4,549.00 (2,900.68) 4,390.61 11,373.00 (6,982.39) 55,297.00 50,906.39 92.1%643-CS-OTHER EXPENSES6433742 Supplies Expendable - 100.00 (100.00) 322.08 200.00 122.08 1,050.00 727.92 69.3%6439490 Miscellaneous - - - - - - 200.00 200.00 100.0%6439718 Safety Equipment & Training - 50.00 (50.00) - 150.00 (150.00) 600.00 600.00 100.0%6439820 Uniforms - 75.00 (75.00) - 225.00 (225.00) 1,650.00 1,650.00 100.0%Total-CS-OTHER EXPENSES - 225.00 (225.00) 322.08 575.00 (252.92) 3,500.00 3,177.92 90.8%Total-COURSE SERVICES 1,648.32 4,774.00 (3,125.68) 4,712.69 11,948.00 (7,235.31) 58,797.00 54,084.31 92.0%TOTAL OUTSIDE SERVICES15,355.25 20,776.00 (5,420.75) 42,161.82 58,504.00 (16,342.18) 291,576.00 246,236.26 84.5%Month to Date Year to DateSilverRock ResortOutside Services Expense StatementSeptember 2006Annual Budget6 SeptemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense65-CH-SUPPLIES & MATERIALS6503742 Supplies-Expendable419.70 400.00 19.70 1,482.98 1,200.00 282.98 4,800.00 3,317.02 69.1%Total-CH-SUPPLIES & MATERIALS 419.70 400.00 19.70 1,482.98 1,200.00 282.98 4,800.00 3,317.02 69.1%65-CH-UTILITIES6507830 Utilities-Electric-Bldgs- 3,168.00 (3,168.00) - 11,767.00 (11,767.00) 42,795.00 42,795.00 100.0%6507836 Utilities-Natural Gas454.40 200.00 254.40 735.63 600.00 135.63 2,400.00 1,664.37 69.3%6507838 Utilities-Sewer- 200.00 (200.00) - 600.00 (600.00) 2,400.00 2,400.00 100.0%6507840 Utilities-Telephone1,981.66 675.00 1,306.66 4,044.71 2,025.00 2,019.71 8,100.00 4,055.29 50.1%6507842 Utilities-Water- 200.00 (200.00) 641.33 600.00 41.33 2,400.00 1,758.67 73.3%6507844 Utilities-Cable356.43 317.00 39.43 860.76 951.00 (90.24) 3,800.00 2,939.24 0.0%Total-CH-UTILITIES 2,792.49 4,760.00 (1,967.51) 6,282.43 16,543.00 (10,260.57) 61,895.00 55,612.57 89.8%65-CH-OTHER EXPENSES6509091 Contract Services-Cleaning1,825.00 1,750.00 75.00 5,475.00 5,250.00 225.00 21,000.00 15,525.00 73.9%6509098 Contract Services-Refuse Dispose337.01 400.00 (62.99) 992.30 1,200.00 (207.70) 4,800.00 3,807.70 79.3%6509099 Contract Services-Security8,423.12 7,800.00 623.12 23,550.96 23,400.00 150.96 93,600.00 70,049.04 74.8%6509215 Flowers & Decorations- 100.00 (100.00) - 300.00 (300.00) 2,600.00 2,600.00 100.0%6509490 Miscellaneous- - - - - - - - 0.0%6509718 Safety Equipment & Training- 100.00 (100.00) - 300.00 (300.00) 1,200.00 1,200.00 100.0%Total-CH-OTHER EXPENSES 10,585.13 10,150.00 435.13 30,018.26 30,450.00 (431.74) 123,200.00 93,181.74 75.6%65-CH-REPAIRS & MAINTENANCE6515685 CH-R&M-Building Structures- 200.00 (200.00) - 600.00 (600.00) 2,400.00 2,400.00 100.0%6515686 CH-R&M-Restaurant Repairs- 200.00 (200.00) - 600.00 (600.00) 2,400.00 2,400.00 100.0%6515690 CH-R&M-Equipment Repair3,096.68 200.00 2,896.68 3,096.68 600.00 2,496.68 2,400.00 (696.68) -29.0%Total-CH-REPAIRS & MAINTENANCE 3,096.68 600.00 2,496.68 3,096.68 1,800.00 1,296.68 7,200.00 4,103.32 57.0%Total CLUBHOUSE16,894.00 15,910.00 984.00 40,880.35 49,993.00 (9,112.65) 197,095.00 8,206.64 4.2%Month to Date Year to DateSilverRock ResortClubhouse Expense StatementSeptember 2006Annual Budget7 SeptemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense66-MKT-SALARIES & BENEFITS6601175 Employee Meals - 60.00 (60.00) 60.00 180.00 (120.00) 720.00 660.00 91.7%6601320 Insurance-Group - 150.00 (150.00) - 450.00 (450.00) 1,800.00 1,800.00 100.0%6601325 Insurance-Workers Comp 191.15 317.00 (125.85) 573.45 951.00 (377.55) 3,800.00 3,226.55 84.9%6601720 Salaries - 3,167.00 (3,167.00) 1,884.71 9,501.00 (7,616.29) 38,004.00 36,119.29 95.0%6601800 Taxes-Employer Payroll - 394.00 (394.00) 144.18 1,182.00 (1,037.82) 4,731.00 4,586.82 97.0%Total-MKT-SALARIES & BENEFITS 191.15 4,088.00 (3,896.85) 2,662.34 12,264.00 (9,601.66) 49,055.00 46,392.66 94.6%66-MKT-SUPPLIES & MATERIALS6603080 Collateral Material - - - 1,108.67 - 1,108.67 - (1,108.67) 0.0%6603762 Supplies-Office 270.07 100.00 170.07 331.15 300.00 31.15 1,200.00 868.85 72.4%6603768 Supplies-Printing & Stationery 242.94 200.00 42.94 242.94 200.00 42.94 4,425.00 4,182.06 94.5%513.01 300.00 213.01 1,682.76 500.00 1,182.76 5,625.00 3,942.24 70.1%66-MKT-UTILITIES6607840 Utilities-Telephone 114.12 100.00 14.12 323.85 300.00 23.85 1,200.00 876.15 73.0%Total-MKT-UTILITIES 114.12 100.00 14.12 323.85 300.00 23.85 1,200.00 876.15 73.0%66-MKT-OTHER EXPENSES6609010 Advertising 17,192.46 17,255.00 (62.54) 36,796.29 29,175.00 7,621.29 175,290.00 138,493.71 79.0%6609040 Business Meals - 25.00 (25.00) - 75.00 (75.00) 300.00 300.00 100.0%6609080 Collateral Material - - - - - - 9,000.00 9,000.00 100.0%6609102 Contract Services-Web Page 99.00 175.00 (76.00) 297.00 525.00 (228.00) 2,100.00 1,803.00 85.9%6609490 Miscellaneous - - - - - - 350.00 350.00 100.0%6609620 Postage 95.93 50.00 45.93 95.93 150.00 (54.07) 600.00 504.07 84.0%6609630 Promotion - - - - - - - - 0.0%6609633 Promotion-Community - 75.00 (75.00) - 225.00 (225.00) 2,925.00 2,925.00 100.0%6609634 Promotion-Media/Vender - - - - - - 700.00 - 0.0%6609150 Dues and Subscriptions - - - - - - 735.00 735.00 0.0%6609820 Uniforms 53.63 - 53.63 53.63 - 53.63 600.00 546.37 91.1%Total-MKT-OTHER EXPENSES 17,441.02 17,580.00 (138.98) 37,242.85 30,150.00 7,092.85 192,600.00 154,657.15 80.3%Total-MARKETING18,259.30 22,068.00 (3,808.70) 41,911.80 43,214.00 (1,302.20) 248,480.00 205,868.20 82.9%Month to Date Year to DateSilverRock ResortMarketing Expense StatementSeptember 2006Annual Budget8 SeptemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense67-G&A-SALARIES & BENEFITS6701175 Employee Meals 180.00 180.00 - 540.00 540.00 - 2,160.00 1,620.00 75.0%6701320 Insurance-Group1,630.72 2,280.00 (649.28) 4,587.97 6,840.00 (2,252.03) 27,360.00 22,772.03 83.2%6701325 Insurance-Workers Comp1,177.42 1,598.00 (420.58) 3,532.26 4,794.00 (1,261.74) 19,176.00 15,643.74 81.6%6701720 Salaries 11,827.84 13,250.00 (1,422.16) 35,483.52 39,750.00 (4,266.48) 159,000.00 123,516.48 77.7%6701800 Taxes-Employer Payroll 1,104.04 1,989.00 (884.96) 3,314.64 5,967.00 (2,652.36) 23,874.00 20,559.36 86.1%6701880 Wages-Hourly2,480.05 2,730.00 (249.95) 7,584.13 8,190.00 (605.87) 32,756.00 25,171.87 76.8%6701882 Wages-Overtime - - - 418.50 - 418.50 - (418.50) 0.0%Total-G&A-SALARIES & BENEFITS 18,400.07 22,027.00 (3,626.93) 55,461.02 66,081.00 (10,619.98) 264,326.00 208,864.98 79.0%67-G&A-SUPPLIES & MATERIALS6703740 Supplies-Computer241.68 500.00 (258.32) 241.68 1,500.00 (1,258.32) 6,000.00 5,758.32 96.0%6703762 Supplies-Office 392.93 125.00 267.93 477.53 375.00 102.53 1,500.00 1,022.47 68.2%6703768 Supplies-Printing & Stationery14.15 100.00 (85.85) 14.24 200.00 (185.76) 3,200.00 3,185.76 99.6%6703778Supplies-Small Tools/Non-Capital - 100.00 (100.00) - 100.00 (100.00) 900.00 900.00 100.0%Total-G&A-SUPPLIES & MATERIALS 648.76 825.00 (176.24) 733.45 2,175.00 (1,441.55) 11,600.00 10,866.55 93.7%67-G&A-REPAIRS & MAINTENANCE6705690 Repairs & Maintenance-Equipment425.00 100.00 325.00 425.00 300.00 125.00 1,200.00 775.00 64.6%Total-G&A-REPAIRS & MAINTENANCE 425.00 100.00 325.00 425.00 300.00 125.00 1,200.00 775.00 64.6%67-G&A-OTHER EXPENSES6709020 Auto/Mileage Allowance400.00 400.00 - 1,200.00 1,200.00 - 4,800.00 3,600.00 75.0%6709090 Contract Services- - - - - - - 0.0%6709150 Dues & Subscriptions- 200.00 (200.00) - 250.00 (250.00) 1,500.00 1,500.00 100.0%6709180 Employee Recruiting/Relocation126.50 500.00 (373.50) 431.50 500.00 (68.50) 2,000.00 1,568.50 78.4%6709197 Equipment Rental289.14 350.00 (60.86) 1,034.23 1,050.00 (15.77) 4,200.00 3,165.77 75.4%6709202 Fees-Bank47.28 300.00 (252.72) 194.31 900.00 (705.69) 3,600.00 3,405.69 94.6%6709208 Fees-Payroll Processing443.97 550.00 (106.03) 1,367.76 1,650.00 (282.24) 6,600.00 5,232.24 0.0%6709220 Freight/Delivery44.15 50.00 (5.85) 262.35 150.00 112.35 600.00 337.65 56.3%6709490 Miscellaneous 75.00 100.00 (25.00) 150.00 300.00 (150.00) 1,200.00 1,050.00 87.5%6709620 Postage/Mail Services 145.18 75.00 70.18 177.48 225.00 (47.52) 900.00 722.52 80.3%6709625 Professional Fees390.00 400.00 (10.00) 2,615.00 1,200.00 1,415.00 4,800.00 2,185.00 45.5%6709636 Promotion/Entertainment- 100.00 (100.00) - 300.00 (300.00) 1,200.00 1,200.00 100.0%6709722 Seminars & Training250.00 100.00 150.00 250.00 300.00 (50.00) 900.00 650.00 72.2%6709810 Travel - - - - 100.00 (100.00) 1,100.00 1,100.00 100.0%6709820 Uniforms - 75.00 (75.00) - 225.00 (225.00) 1,050.00 1,050.00 100.0%Total-G&A-OTHER EXPENSES 2,211.22 3,200.00 (988.78) 7,682.63 8,350.00 (667.37) 34,450.00 26,767.37 77.7%Total-GENERAL & ADMINISTRATIVE21,685.05 26,152.00 (4,466.95) 64,302.10 76,906.00 (12,603.90) 311,576.00 247,273.90 79.4%Month to Date Year to DateSilverRock ResortGeneral & Administrative Expense StatementSeptember 2006Annual Budget9 SeptemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense68-LEASES6800192 Equipment Leases-Carts 8,020.86 9,800.00 (1,779.14) 24,062.58 29,400.00 (5,337.42) 117,600.00 93,537.42 79.5%6800193 Equipment Leases-Course Maint 27,052.86 20,000.00 7,052.86 62,868.57 60,000.00 2,868.57 240,000.00 177,131.43 73.8%6800194 Equipment Leases-Trailer 387.41 600.00 (212.59) 1,008.23 1,800.00 (791.77) 7,200.00 6,191.77 86.0%6800195 Equipment Leases-Software - 1,525.00 (1,525.00) 2,745.86 4,575.00 (1,829.14) 18,300.00 15,554.14 85.0%6800196 Equipment Leases-GPS 7,370.25 7,400.00 (29.75) 17,049.98 22,200.00 (5,150.02) 88,800.00 71,750.02 80.8%Total-LEASES42,831.38 39,325.00 3,506.38 107,735.22 117,975.00 (10,239.78) 471,900.00 364,164.78 77.2%69-MISC OTHER EXPENSES6900096 Contract Srvcs-Management Fee 5,833.17 12,044.00 (6,210.83) 39,523.69 49,031.00 (9,507.31) 125,196.00 85,672.31 68.4%6900210 FF&E Reserve 2,998.79 3,079.00 (80.21) 6,146.36 7,139.00 (992.64) 67,426.00 61,279.64 90.9%6900211 Personal Property Taxes20,000.00 20,000.00 100.0%6900323 Insurance-Commercial 480.90 4,200.00 (3,719.10) 667.74 12,600.00 (11,932.26) 50,400.00 49,732.26 98.7%Total-MISC OTHER EXPENSES9,312.86 19,323.00 (10,010.14) 46,337.79 68,770.00 (22,432.21) 263,022.00 216,684.21 82.4% Operating Leases & Miscellaneous Other Expense StatementSeptember 2006Annual BudgetMonth to Date Year to Date10 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report‐2006‐20072006 2006 2006 2006 2006 2006Comp CategoryJulyAugustSeptemberOctoberNovemberDecemberMedia6158Sales727Promotion423Golf Industry20 21 15VIP600Celebrity000PGA Comp27 28 60Charity/Gift Certificate62437Rain/Wind Checks000Club Staff20 17 44LQ HS Golf00096 109 174 0 0 02007 2007 2007 2007 2007 2007Comp CategoryJanuaryFebruaryMarchAprilMayJuneMediaSalesPromotionGolf IndustryVIP11 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report‐2006‐2007September 2007Date Time Description Category Players9/1/2006 2:37 Dadio GPS Advertising Gift Certificate 29/4/2006 9:45 Showtime Golf Promo Promotion 39/6/2006 7:37 Golf Week Raters Sales 29/6/2006 4:00 Pringle - Jim Murray Voucher Gift Certificate 29/8/2006 9:00 Kris Long CBS Media 49/10/2006 7:00 Gary Stone Media 29/10/2006 10:45 Hunter - Jim Murray Voucher Gift Certificate 29/13/2006 7:00 Dubinski - Jim Murray Voucher Gift Certificate 39/16/2006 1:15 Dadio GPS Advertising Gift Certificate 39/18/2006 3:07 Pringle - Jim Murray Voucher Gift Certificate 29/20/2006 9:15 Youngman - Gift Certificate Gift Certificate 39/21/2006 7:22 Dubinski - Jim Murray Voucher Gift Certificate 29/21/2006 8:30 Albin - Jim Murray Voucher Gift Certificate 19/22/2006 3:07 Thornton - GPS Advertising Gift Certificate 29/27/2006 8:00 Perles - Desert Sun Sales 29/27/2006 8:00 Nuefeld - Desert Sun Sales 19/29/2006 1:07 Turner - Desert Sun Sales 29/30/2006 3:07 Gary Stone Media 212