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Silverock Budget 2006-07 Round 41
SilverRock Resort-Arnold Palmer Classic Course 2006-2007 ANNUAL PLAN 4th (FOURTH) ROUND Prepared For: City of La Quinta SilverRock Resort Prepared By: Landmark Golf Management Submitted: May 30, 2006 SILVERROCK RESORT Annual Plan Table of Contents Part I-Project Overview Project Fact Sheet 1 Mission Statement 2 Philosophy Statement 3 Organizational Chart 4 Key Employee Staffing and Salaries 5 Part II-Assumptions and Capital Expenditures 2006/2007 Assumptions 6,7 Golf Operations 8 Course Maintenance 8 Food and Beverage 8 Part III-Operational Financial Projections Consolidated Income Statement by Month 9 Department Detail Golf Rounds and Revenue 10 Carts, Bagroom & Range 11,12 Golf Shop Merchandise 13,14 Course Services 15 Golf Course Maintenance 16,17,18,19 General & Administrative 20,21 Marketing 22 Clubhouse 23 Miscellaneous 24 Part IV-Food and Beverage Department Detail 25,26 Part V-Other Marketing Narrative Plan 27,28 Competitive Green Fee Analysis 29 SILVERROCK RESORT Annual Plan COURSE NAME SilverRock Resort-Arnold Palmer Classic Course ADDRESS 79-179 Ahmanson Lane, La Quinta, Ca. 92253 TELEPHONE 1-888-600-7272 WEBSITE WWW.SILVERROCK.ORG MANAGEMENT Randy Duncan, Director of Golf / General Manager Willie Lopez, Golf Course Superintendent COURSE YARDAGE SILVER 7,553 PAR 72 BLUE 7,101 PAR 72 WHITE 6,639 PAR 72 YELLOW 5,974 PAR 72 GREEN 5,306 PAR 72 RED 4,884 PAR 72 GRASS TYPES GREENS: TIF DWARF FAIRWAY / TEES: TIF SPORT ROUGHS: TIF SPORT OWNER CITY OF LA QUINTA MANAGED BY LANDMARK GOLF MANAGEMENT, LLC 74-947 HIGHWAY 111, SUITE 200 INDIAN WELLS, CA 92210 PHONE: (760) 776-6688 OPENING DATE February 14, 2005 PROJECT FACT SHEET 1 SILVERROCK RESORT Annual Plan May 30, 2006 Mission Statement “TO BE THE BEST” “TO HAVE THE BEST GOLF FACILITIES” “TO HAVE THE BEST GOLF COURSE CONDITIONS” “TO PROVIDE THE BEST SERVICE” SilverRock Resort is dedicated to providing the finest public golf experience. All Staff Members of the facility play an important role in our Mission. Staff is supported through training and resources to insure success. SilverRock Resort aspires to represent ownership and management with the highest standard of service in the Golf/Resort Industry and produce superior golf course conditions to meet and exceed the goals. Goals and Objectives: To support our Mission Statement and to achieve the projected Annual Plan. SilverRock Resort will pursue the following goals and objectives: • To hire and train a staff that will provide a high standard of guest services and maintain the highest level of course conditions • To maintain and pursue an aggressive Marketing Plan that benefits/acknowledges the La Quinta Residents, local residents, avid tourist golfers and golfing public • To present a facility and golf course conditions that qualify to host the Bob Hope Classic with a strong commitment to be in the host club rotation • To have each Departments operate within their annual budget allowing SilverRock Resort to reach the net operating goals 2 SILVERROCK RESORT Annual Plan May 30, 2006 PHILOSOPHY STATEMENT In the first 18 months of operations, an Annual Plan accommodated the operational start-up through and including grow-in, final construction of the Arnold Palmer Classic Course and a notable Grand Opening Celebration. As the 2006-2007 Annual Plan is implemented, focus should naturally shift from a construction completion and opening mode to concentrated efforts in order to broaden the awareness, marketability and noteworthiness of SilverRock Resort’s Arnold Palmer’s Classic Course golf facility. The philosophy that Landmark Golf Management perpetuates at SilverRock Resort is: an operation that allows management to utilize golf industry best- practices in accommodating market-driven demands as market shifts may occur. Each golf course facility has its own personality and characteristics; therefore, each golf operation is unique to some degree and should be managed with personality and characteristics taken into consideration. Golf operators that adjust procedures to short and long term market and industry fluctuations are better suited to maximize opportunities. In this upcoming second complete twelve months of operations, Landmark Golf Management will put forth every effort to better position SilverRock Resort as a place to frequent in the eyes and minds of the influential decision makers in the world of golf. BRAND PROMISE Discover the mystique of SilverRock Resort, the crown jewel of La Quinta and its golf legacy. Rich in both history and legend, the majestic Santa Rosa Mountains frame an unwavering commitment to an exceptional experience at SilverRock Resort. Our Promise: Exceptional in All, For All, Always. 3 SilverRock Resort2006-2007 Annual PlanAsst. Golf ProfessionalsGolf Shop Buyer(Sub-Contractor)Sales AssociatesCarts/Bag RoomStarters P.ARangersDriving RangeGuest/Outside ServicesOutside Services ManagerGolf ShopHead ProfessionalAsst. SuperintendentMechanic(s)Irrigation TechnicianSpray TechnicianGreenskeeper(s)Administrative Asst.Golf Course MaintenanceSuperintendentAdmin. Asst.To Controller & GMAccountingController/Human ResourcesRestaurant/Snack Shop F&B Server(s) Beverage CartAttendentsFood & BeverageF&B ManagerMarketing & SalesTournament Sales ManagerSilverRock Resort Golf ClubGeneral MGR./Director of GolfLandmark Golf ManagementManagement TeamCommunity ServicesDirectorCity ManagerCity of La QuintaCity Council & Staff4 RUN DATE: 30-May-06Key Employee Staffing and SalariesPREPARED BY: DEPARTMENT SUMMARY SALARYJUL.AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR.APR. MAY JUN.GOLF OPERATION OUTSIDE SERVICES OUTSIDE SERVICES MANAGER$10.5011111111 11 11 OUTSIDE SERVICES SUPERVISORS (FULL-TIME$9.5011111111 11 11 DRIVING RANGE (PART-TIME)$7.5011111222 22 11 CART/BAG/VALET/BAG DROP (FULL-TIME)$7.5044444444 44 44 CART/BAG/VALET/BAG DROP (PART-TIME)$7.5000002222 22 2177779101010 1010 98PRO SHOP HEAD GOLF PROFESSIONAL$40,000.0011111111 11 11 ASSISTANT PROFESSIONAL$28,000.0011111111 11 11 ASSISTANT PROFESSIONAL $26,000.0011111111 11 11 SALES CLERKS (FULL TIME)$10.0011122222 22 22 SALES CLERKS (PART TIME)$8.5000111111 11 1044566666 66 65COURSE SERVICES STARTERS (PART TIME)$7.5022222222 22 22 RANGER/MARSHALS (PART TIME)$7.5011223333 33 22 TEE-TIMES (PART TIME)$7.5000000000 00 0033445555 55 44GOLF COURSE MAINTENANCESUPERINTENDENT$92,000.0011111111 11 11ASST SUPERINTENDENT$49,000.0011111111 11 11FOREMAN/SPRAY TECHNICIAN$14.5211111111 11 11HEAD MECHANIC / FACILITY MANAGER$22.0011111111 11 11ASST MECHANIC$12.0011111111 11 11HEAD IRRIGATOR$15.5011111111 11 11ASST IRRIGATOR$11.5011111111 11 11GREENSMEN$9.5018 18 18 18 18 18 18 18 18 18 18 18ADMINISTRATIVE ASSISTANT $14.0011111111 11 11TOTAL TURF & ADMIN STAFF 26 26 26 26 26 26 26 26 26 26 26 26LANDSCAPE MAINTENANCEFOREMAN$15.0011111111 11 11IRRIGATOR$11.3311111111 11 11LANDSCAPERS$8.2566666666 66 66TOTAL LANDSCAPE CREW88888888 88 88TOTAL COURSE MAINTENANCE STAFF 343434343434343434343434PERIMETER LANDSCAPINGLANDSCAPERS$8.2522222222 22 22TOTAL LANDSCAPE CREW22222222 22 22FOOD & BEVERAGEF & B MANAGER / SUPERVISOR$40,000.0011111111 11 11LINE COOK $14.0011111111 11 11PREP COOK$10.0000001111 11 00LEAD SERVER (FULL-TIME)$12.0011111111 11 11F & B WAIT/BEVERAGE CART/HALF(FULL TIME)$7.7522222222 22 22F & B WAIT/BEVERAGE CART/HALF(PART TIME)$7.7500001122 22 10BUSER / DISHWASHER (PART TIME)$7.7522222222 22 227777991010 1010 87G & A DIRECTOR OF GOLF/GM$99,000.0011111111 11 11 CLUB CONTROLLER$60,000.0011111111 11 11 ADMINISTRATIVE ASSISTANT$15.7511111111 11 1133333333 33 33MARKETING/TOURNAMENTTOURNAMENT SALES$38,000.0011111111 11 112006-2007 ANNUAL PLAN 4th (FOURTH) ROUND Landmark Golf Management5 SILVERROCK RESORT ANNUAL PLAN 2006-2007 Assumptions May 30, 2006 Revenue Green Fees: The green fee includes a golf cart and warm-up range balls. A combination of the various green fee rates and green fees mix of regular, twilight, and Resident play is anticipated to yield an average rate of $76.13 per round on an annualized basis. The Green fee rates for 2006-2007 will remain the same as the prior year. It is assumed the overseeding dates will be October 9 through November 6, 2006; overseeding reduces revenues due to the course being closed during these dates. It is also assumed that aerification will occur in May, June, & July of 2006 which reduces revenue for 3-5 days with each of these 3 aerification cycles. Greens Fee Mix: Through proper marketing, yield management, and limited advanced Resident bookings the projected mix of green fees is: 30% Resident, 25% Regular, 10% Twilight, & 35% Other. Miscellaneous and Other Revenue: Based on $1.59 per round. This consists of golf club rentals, golf club repairs, handicap fees, driving range fees, rider fees, 15 % of golf lessons and Independent Contractor’s Fees. Golf Shop Merchandise: Based on $7.94 per round. Cost of Sales Merchandise 58 % Food & Beverage 33 % Expenses Golf Carts, Bag Room, and Driving Range: Includes outside service, valet, bag room, and driving range staff plus supplies and operating expense for this department. Golf Shop Merchandise: Includes golf professionals, merchandising sales staff, receiving staff and golf shop operational expenses. Course Services: Includes course service staff consisting of course rangers/starters and related department supplies and materials. 6 SILVERROCK RESORT ANNUAL PLAN Golf Course Maintenance: Includes grounds maintenance staff, supplies, and materials. It is assumed that the course will not host the 2007 Bob Hope Chrysler Classic. Also, assumed are the overseeding dates of October 9 through November 6, 2006, which will result in projected higher labor cost and supply costs during the annual overseeding process. Two (2) maintenance employees will be added to the budget to maintain the front entry way near Ave. 52 and the area in front of the maintenance building on 54th. Water & Electrical: This includes water and electrical cost to irrigate the golf course and properly maintain the lake system. Food & Beverage: Includes food & beverage staff and expenses for the temporary clubhouse. There is a separate Agreement for the Food & Beverage Department including the Liquor License arrangement between the City and Landmark Golf Management. Marketing: Includes marketing, promotions, advertising, web page, collateral and tournament sales, etc. Clubhouse: Includes clubhouse expenses, maintenance/cleaning staff, landscape maintenance, parking lot and entry drive clean up. Management Fee: $7,500 per month; Based off the Golf Course Management Agreement, dated the 8th April 2004. Insurance: Per requirements of the Golf Course Management Agreement; included is a comprehensive golf club insurance policy, general liability, property, equipment and business interruption etc. Property Tax: Exempt, except personal property taxes on equipment purchases or leases. Golf Carts and Maintenance Equipment Leases: Golf carts and maintenance equipment are being leased for the Golf Club. For Golf Course Maintenance; (4) John Deere Gators, a verticute set for John Deere 2500, and a John Deere Tractor Mower with Flex Deck and Fail Deck will be added to the lease. For Golf Operations; (5) additional golf carts will be added to our golf cart lease to accommodate our demand for golf carts during the high season. For the Food & Beverage Department, (1) additional beverage cart will be added to the lease. 7 2006-2007 ANNUAL PLAN 4th (FOURTH) ROUND SilverRock ResortRUN DATE: 30-May-06 12:02 PMProjections - July 2006 to June 2007Capital ExpendituresPREPARED BY: Landmark Golf ManagementTOTAL JUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN.GOLF OPERATIONSRadio Repeater $5,000 5,000Range Clock$2,500 2,500Shade Canopy (Valet) $3,750 3,750TOTAL GOLF OPERATIONS $6,250 $8,750 $0 $2,500 $0 $0 $0 $0 $0 $0 $0 $0 $0F&B DEPARTMENTCar Port Fencing & Security $3,500 $3,500TOTAL FOOD & BEVERAGE $3,500 $3,500 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0MAINTENANCE(1) Turfco straight drop topdresser, fits Progater $4,895 $4,895(1) JD Walk behind 800 aerator indrow, Needle tine, 1300lb capacity $13,993 $13,993(2) Aerator trailers 62" x 90", with 5' gate, 10" tires-8ply $6,244 $6,244(1) 600 Gallon SDI Gypson Injector $11,195 $11,195(1) 600 Gallon Ad Mixing tank and electrical pump $4,276 $4,276(1) Planet Air Aerator $23,000 $23,000Sod additional areas leftover from Drainage Project $20,000 $20,000TOTAL MAINTENANCE $83,603 $83,603 $0TOTAL CAPITAL EXPENDITURES** $98,353 $95,853 $0 $2,500 $0 $0 $0 $0 $0 $0 $0 $0 $0 CAPITAL EXPENDITURES8 SilverRock ResortCONSOLIDATED INCOME STATEMENTRUN DATE: 30-May-06 12:02 PMFOR FISCAL YEAR - JULY 2006 - JUNE 2007PREPARED BY: Landmark Golf ManagementDEPARTMENT 05-06 Budget 05-06 Act./For.Total JUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN.ROUNDSROUNDS 37,816 38,103 39,2201,880 1,880 2,880 1,100 3,840 3,840 3,575 4,650 4,950 4,875 3,350 2,400 TOTAL ROUNDS 37,816 38,103 39,220 1,880 1,880 2,880 1,100 3,840 3,840 3,575 4,650 4,950 4,875 3,350 2,400REVENUEGREEN FEES 3,175,395 2,851,345 2,985,87084,389 84,389 129,276 73,783 260,208 260,208 338,061 439,716 471,983 438,628 236,091 169,140MISC. REV/RANGE/CARTS/RENTALS 34,470 50,474 62,1813,974 2,974 4,024 4,655 7,032 7,532 6,754 6,383 6,698 6,119 3,518 2,520GOLF SHOP MERCHANDISE 245,790 294,868 311,24813,160 13,160 20,160 8,250 32,640 32,640 30,388 39,525 42,075 39,000 23,450 16,800FOOD & BEVERAGE CONCESSIONS 12,000 12,000 12,000500 500 500 1,500 1,500 1,500 1,500 1,500 1,500 500 500 500TOTAL REVENUE 3,467,655 3,208,687 3,371,298 102,023 101,023 153,960 88,188 301,380 301,880 376,702 487,123 522,255 484,247 263,559 188,960COST OF SALESPRO SHOP (58%) 147,470 154,125 180,5137,632 7,632 11,692 4,785 18,930 18,930 17,624 22,923 24,402 22,619 13,600 9,743TOTAL COST OF SALES 147,470 154,125 180,513 7,632 7,632 11,692 4,785 18,930 18,930 17,624 22,923 24,402 22,619 13,600 9,743GROSS PROFIT 3,320,185 3,054,562 3,190,786 94,390 93,390 142,268 83,403 282,450 282,950 359,079 464,200 497,853 461,628 249,959 179,217OPERATING EXPENSESGOLF CARTS\BAGS\RANGE - 641 302,118 238,380 232,77915,929 15,917 15,928 14,768 20,446 21,413 22,111 22,707 22,644 21,294 21,160 18,461GOLF SHOP MERCHANDISE - 610 200,011 183,676 211,69714,892 14,292 15,796 12,977 18,764 19,394 19,369 19,264 19,264 19,264 20,764 17,660COURSE SERVICES - 643 101,545 59,450 58,7973,586 3,586 4,774 2,360 5,014 5,961 5,961 5,911 5,911 6,236 4,749 4,749GOLF COURSE MAINTENANCE - 631-632 1,538,594 1,792,637 1,538,041114,809 113,786 134,394 247,601 127,799 111,575 124,429 110,626 108,453 109,758 114,157 120,657WATER & ELECTRIC COST - 631 208,320 105,189 201,76822,174 27,709 13,349 16,640 17,917 16,020 8,590 10,409 10,486 14,279 23,917 20,278GENERAL & ADMINISTRATIVE - 670 315,272 294,472 311,57625,302 25,452 26,152 26,077 26,077 26,352 25,802 25,902 25,702 26,002 26,852 25,902MARKETING - 660 250,692 258,205 248,4819,698 11,448 22,068 21,873 23,123 24,773 26,233 33,373 23,423 22,623 16,173 13,673CLUBHOUSE - 650 206,756 168,370 197,09516,815 17,268 15,910 15,254 15,254 15,254 16,857 16,968 16,815 16,968 16,968 16,768MANAGEMENT FEE - 690 142,194 138,480 125,19618,731 18,256 12,044 15,021 8,237 8,851 11,018 1,165 (141) (1,090) 14,833 18,272CAPITAL RESERVES - 690 69,353 64,979 67,4262,040 2,020 3,079 1,764 6,028 6,038 7,534 9,742 10,445 9,685 5,271 3,779INSURANCE - 690 60,000 40,031 50,4004,200 4,200 4,200 4,200 4,200 4,200 4,200 4,200 4,200 4,200 4,200 4,200PROPERTY TAXES - 690 20,000 20,000 20,0000 0 20,000000000000LEASES (Cart & Maint.) 330,300 376,684 471,90039,325 39,325 39,325 39,325 39,325 39,325 39,325 39,325 39,325 39,325 39,325 39,325TOTAL OPERATING EXPENSES 3,745,155 3,740,553 3,735,156287,501 293,259 327,018 417,858 312,184 299,155 311,429 299,591 286,526 288,544 308,368 303,723NET INCOME (424,970) (685,991) (544,370)(193,111) (199,869) (184,750) (334,456) (29,734) (16,205) 47,649 164,609 211,327 173,085 (58,409) (124,507)NET INCOME % -12.3% -21.4% -16.1% -189.3% -197.8% -120.0% -379.3% -9.9% -5.4% 12.6% 33.8% 40.5% 35.7% -22.2% -65.9%Average Rounds per Day116 84 87 90 112 100 91 139 139 144 139 136 93Average Green Fee $83.97 $74.83 $76.13$44.89 $44.89 $44.89 $67.08 $67.76 $67.76 $94.56 $94.56 $95.35 $89.98 $70.48 $70.48Average $ Misc. Income per Rd $1.28 $1.28 $1.59$2.11 $1.58 $1.40 $4.23 $1.83 $1.96 $1.89 $1.37 $1.35 $1.26 $1.05 $1.05Average $ Merchandise per Rd $6.50 $7.35 $7.94$7.00 $7.00 $7.00 $7.50 $8.50 $8.50 $8.50 $8.50 $8.50 $8.00 $7.00 $7.00Total Average Revenue per Round $91.75 $83.46 $85.65 $54.27 $53.74 $53.46 $80.17 $78.48 $78.61 $105.37 $104.76 $105.51 $99.33 $78.67 $78.732006-2007 ANNUAL PLAN 4th (FOURTH) ROUND 9 2006-2007 ANNUAL PLAN 4th (FOURTH) ROUND SilverRock ResortRUN DATE: 30-May-06 12:02 PMProjections - July 2006 to June 2007PREPARED BY: Landmark Golf Management0.40TotalJUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN.Resident Rnds (Weekday)5,295254 254 389 149 518 518 483 628 668 658 452 324Resident Rnds (Weekend)6,471310 310 475 182 634 634 590 767 817 804 553 396Sub-Total Resident Rnds 11,766564 564 864 330 1152 1152 1073 1395 1485 1463 1005 720% of Total0.300.30 0.30 0.30 0.30 0.30 0.30 0.30 0.30 0.30 0.30 0.30 0.30Public Rnds (Weekday)4,412212 212 324 124 432 432 402 523 557 548 377 270Public Rnds (Weekend)5,393259 259 396 151 528 528 492 639 681 670 461 330Sub-Total Public Rnds9,805470 470 720 275 960 960 894 1163 1238 1219 838 600% of Total0.250.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25 0.25Public Twi (Weekday)1,76585 85 130 50 173 173 161 209 223 219 151 108Public Twi (Weekend)2,157103 103 158 61 211 211 197 256 272 268 184 132Sub-Total Twilight Rnds3,922188 188 288 110 384 384 358 465 495 488 335 240% of Total0.100.10 0.10 0.10 0.10 0.10 0.10 0.10 0.10 0.10 0.10 0.10 0.10Other (Weekday)6,177296 296 454 173 605 605 563 732 780 768 528 378Other (Weekend)7,550362 362 554 212 739 739 688 895 953 938 645 462Tournaments 2,745132 132 202 77 269 269 250 326 347 341 235 168Wholesales 2,745132 132 202 77 269 269 250 326 347 341 235 168Stsnd By Golf 2,745132 132 202 77 269 269 250 326 347 341 235 168Discounts 3,432165 165 252 96 336 336 313 407 433 427 293 210PGA 68633 33 50 19 67 67 63 81 87 85 59 42Junior 68633 33 50 19 67 67 63 81 87 85 59 42Replay 68633 33 50 19 67 67 63 81 87 85 59 42Sub-Total Other13,727658 658 1008 385 1344 1344 1251 1628 1733 1706 1173 840% of Total0.350.35 0.35 0.35 0.35 0.35 0.35 0.35 0.35 0.35 0.35 0.35 0.35Total Rounds39,220 1880 1880 2880 1100 3840 3840 3575 4650 4950 4875 3350 24000.450.55Resident Rnds (Weekday) 30.00$ 30.00$ 30.00$ 45.00$ 45.00$ 45.00$ 55.00$ 55.00$ 55.00$ 55.00$ 45.00$ 45.00$ Resident Rnds (Weekend) 30.00$ 30.00$ 30.00$ 45.00$ 45.00$ 45.00$ 55.00$ 55.00$ 55.00$ 55.00$ 45.00$ 45.00$ Public Rnds (Weekday) 60.00$ 60.00$ 60.00$ 90.00$ 90.00$ 90.00$ 140.00$ 140.00$ 140.00$ 135.00$ 90.00$ 90.00$ Public Rnds (Weekend) 70.00$ 70.00$ 70.00$ 105.00$ 110.00$ 110.00$ 150.00$ 150.00$ 150.00$ 115.00$ 110.00$ 110.00$ Public Twi (Weekday) 40.00$ 40.00$ 40.00$ 65.00$ 65.00$ 65.00$ 85.00$ 85.00$ 85.00$ 85.00$ 65.00$ 65.00$ Public Twi (Weekend) 50.00$ 50.00$ 50.00$ 75.00$ 75.00$ 75.00$ 95.00$ 95.00$ 95.00$ 95.00$ 75.00$ 75.00$ Other (Weekday)40.00$ 40.00$ 40.00$ 60.00$ 60.00$ 60.00$ 85.00$ 85.00$ 90.00$ 90.00$ 65.00$ 65.00$ Other (Weekend)45.00$ 45.00$ 45.00$ 65.00$ 65.00$ 65.00$ 100.00$ 100.00$ 100.00$ 100.00$ 75.00$ 75.00$ Resident Rnds (Weekday) 249,183 7,614$ 7,614$ 11,664$ 6,683$ 23,328$ 23,328$ 26,544$ 34,526$ 36,754$ 36,197$ 20,351$ 14,580$ Resident Rnds (Weekend) 304,557 9,306$ 9,306$ 14,256$ 8,168$ 28,512$ 28,512$ 32,443$ 42,199$ 44,921$ 44,241$ 24,874$ 17,820$ Public Rnds (Weekday) 473,482 12,690$ 12,690$ 19,440$ 11,138$ 38,880$ 38,880$ 56,306$ 73,238$ 77,963$ 74,039$ 33,919$ 24,300$ Public Rnds (Weekend) 631,740 18,095$ 18,095$ 27,720$ 15,881$ 58,080$ 58,080$ 73,734$ 95,906$ 102,094$ 77,086$ 50,669$ 36,300$ Public Twi (Weekday) 123,494 3,384$ 3,384$ 5,184$ 3,218$ 11,232$ 11,232$ 13,674$ 17,786$ 18,934$ 18,647$ 9,799$ 7,020$ Public Twi (Weekend) 172,508 5,170$ 5,170$ 7,920$ 4,538$ 15,840$ 15,840$ 18,679$ 24,296$ 25,864$ 25,472$ 13,819$ 9,900$ Other (Weekday) 433,050 11,844$ 11,844$ 18,144$ 10,395$ 36,288$ 36,288$ 47,860$ 62,252$ 70,166$ 69,103$ 34,296$ 24,570$ Other (Weekend) 597,857 16,286$ 16,286$ 24,948$ 13,764$ 48,048$ 48,048$ 68,819$ 89,513$ 95,288$ 93,844$ 48,366$ 34,650$ Total Revenue2,985,870 84,389$ 84,389$ 129,276$ 73,783$ 260,208$ 260,208$ 338,061$ 439,716$ 471,983$ 438,628$ 236,091$ 169,140$ Avg. Rate76.13$ 44.89$ 44.89$ 44.89$ 67.08$ 67.76$ 67.76$ 94.56$ 94.56$ 95.35$ 89.98$ 70.48$ 70.48$ Misc RevenueClub Rental ($.30 per round)11,766564$ 564$ 864$ 330$ 1,152$ 1,152$ 1,073$ 1,395$ 1,485$ 1,463$ 1,005$ 720$ Driving Range Balls ($.75 per ro29,4151,410$ 1,410$ 2,160$ 825$ 2,880$ 2,880$ 2,681$ 3,488$ 3,713$ 3,656$ 2,513$ 1,800$ Ball Retreival / Independent Ins4,0001,000$ -$ 1,000$ 1,000$ 1,000$ -$ -$ GPS Advertising Income9,0001,000$ 1,000$ 1,000$ 1,000$ 1,000$ 1,000$ 1,000$ 1,000$ 1,000$ Handicap Fees (based on 200 @8,000-$ -$ -$ 1,500$ 2,000$ 2,500$ 1,000$ 500$ 500$ -$ -$ -$ Total62,1813,974$ 2,974$ 4,024$ 4,655$ 7,032$ 7,532$ 6,754$ 6,383$ 6,698$ 6,119$ 3,518$ 2,520$ Golf RevenueCourse Closes 10/10 Reopens 11/06/06Golf Rounds Green Fees10 2006-2007 ANNUAL PLAN 4th (FOURTH) ROUND SilverRock ResortRUN DATE: 30-May-06 12:02 PMProjections - July 2006 to June 2007PREPARED BY: Landmark Golf ManagementCARTS, BAGROOM & RANGE - 641TOTALJUL.AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR.APR. MAYJUN.PAYROLL ESTIMATE OUTSIDE SERVICES MANAGER 1 1 1 1 1 1 1 1 1 1 1 1 OUTSIDE SERVICES SUPERVISORS (FULL-TIME) 1 1 1 1 1 1 1 1 1 1 1 1 DRIVING RANGE (PART-TIME) 1 1 1 1 1 2 2 2 2 2 1 1 CART/BAG/VALET/BAG DROP (FULL-TIME) 4 4 4 4 4 4 4 4 4 4 4 4 CART/BAG/VALET/BAG DROP (PART-TIME) 0 0 0 0 2 2 2 2 2 2 2 17 7 7 7 9 10 10 10 10 10 9 8HOURLY WAGE ESTIMATEOUTSIDE SERVICE MANAGER$10.50$10.50 $10.50 $10.50 $10.50 $10.50 $10.50 $10.50 $10.50 $10.50 $10.50 $10.50 $10.50OUTSIDE SERVICE SUPERVISOR$9.50$9.50 $9.50 $9.50 $9.50 $9.50 $9.50 $9.50 $9.50 $9.50 $9.50 $9.50 $9.50DRIVING RANGE (PART-TIME)$7.50$7.50 $7.50 $7.50 $7.50 $7.50 $7.50 $7.50 $7.50 $7.50 $7.50 $7.50 $7.50CART/BAG/VALET/BAG DROP (FULL-TIME)$7.50$7.50 $7.50 $7.50 $7.50 $7.50 $7.50 $7.50 $7.50 $7.50 $7.50 $7.50 $7.50CART/BAG/VALET/BAG DROP (PART-TIME)$7.50$7.50 $7.50 $7.50 $7.50 $7.50 $7.50 $7.50 $7.50 $7.50 $7.50 $7.50 $7.50HOURS WORKEDOUTSIDE SERVICE MANAGER1,888173.3 173.3 173.3 60.0 95.0 173.3 173.3 173.3 173.3 173.3 173.3 173.3OUTSIDE SERVICE SUPERVISOR1,888173.3 173.3 173.3 60.0 95.0 173.3 173.3 173.3 173.3 173.3 173.3 173.3DRIVING RANGE (PART-TIME)1,451138.7 138.7 138.7 32.0 32.0 138.7 138.7 138.7 138.7 138.7 138.7 138.7CART/BAG/VALET/BAG DROP (FULL-TIME)1,645150.0 150.0 150.0 60.0 85.0 150.0 150.0 150.0 150.0 150.0 150.0 150.0CART/BAG/VALET/BAG DROP (PART-TIME)1,532138.7 138.7 138.7 60.0 85.0 138.7 138.7 138.7 138.7 138.7 138.7 138.7SALARIESOUTSIDE SERVICE MANAGER19,8241,820 1,820 1,820 630 998 1,820 1,820 1,820 1,820 1,820 1,820 1,820OUTSIDE SERVICE SUPERVISOR17,9361,646 1,646 1,646 570 903 1,646 1,646 1,646 1,646 1,646 1,646 1,646DRIVING RANGE (PART-TIME)16,0841,040 1,040 1,040 240 240 2,081 2,081 2,081 2,081 2,081 1,040 1,040CART/BAG/VALET/BAG DROP (FULL-TIME)49,3504,500 4,500 4,500 1,800 2,550 4,500 4,500 4,500 4,500 4,500 4,500 4,500CART/BAG/VALET/BAG DROP (PART-TIME)14,7980 0 0 0 1,275 2,081 2,081 2,081 2,081 2,081 2,081 1,040117,992 9,006 9,006 9,006 3,240 5,965 12,127 12,127 12,127 12,127 12,127 11,087 10,04739,2201,880 1,880 2,880 1,100 3,840 3,840 3,575 4,650 4,950 4,875 3,350 2,400SALARIES AND BENEFITSSalaries and Wages117,992 9,006 9,006 9,006 3,240 5,965 12,127 12,127 12,127 12,127 12,127 11,087 10,047Incentives \ Bonus 0Payroll Taxes 14,6901,121 1,121 1,121 403 743 1,510 1,510 1,510 1,510 1,510 1,380 1,251Workers' Compensation 16,9441,293 1,293 1,293 465 857 1,741 1,741 1,741 1,741 1,741 1,592 1,443Employee Meals 6,240420 420 420 420 540 600 600 600 600 600 540 480Health Insurance 8,640720 720 720 720 720 720 720 720 720 720 720 720 TOTAL SALARIES AND BENEFITS 164,506 12,561 12,561 12,561 5,249 8,824 16,698 16,698 16,698 16,698 16,698 15,319 13,94011 2006-2007 ANNUAL PLAN 4th (FOURTH) ROUND SilverRock ResortRUN DATE: 30-May-06 12:02 PMProjections - July 2006 to June 2007PREPARED BY: Landmark Golf ManagementCARTS, BAGROOM & RANGE - 641TOTALJUL.AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR.APR. MAYJUN.SUPPLIES AND MATERIALSExpendable Supplies7,550150 150 150 3,000 1,000 150 150 1,500 150 150 500 500Towel Replacement2,29272 72 72 1,500 72 72 72 72 72 72 72 72Bottled Water22,6311,571 1,609 1,620 669 1,200 1,293 2,596 2,342 2,684 2,509 2,529 2,009Cart Supplies2,350500 1,000 500 75 75 50 50 50 50Range Balls6,0006,000Handicap Expenses (Based on 200 @ $25ea)5,000100 100 100 400 400 1,250 1,000 500 500 250 200 200Tournament Expenses0 TOTAL SUPPLIES AND MATERIALS 45,823 1,893 1,931 1,942 6,069 9,672 3,265 3,893 4,489 3,456 3,031 3,351 2,831REPAIRS AND MAINTENANCEEquipment Repair - Golf1,500125 125 125 125 125 125 125 125 125 125 125 125 TOTAL REPAIRS AND MAINTENANCE 1,500 125 125 125 125 125 125 125 125 125 125 125 125OTHER EXPENSESOffice Supplies 52525 25 25 50 50 50 50 50 50 50 50 50Printing / Stationary 42070 70 70 70 70 70Postage 0Cart Contract Services - ($9 per cart per mo. @ 80 carts)8,640720 720 720 720 720 720 720 720 720 720 720 720Cart Contract GPS - Pro Shot/ParView etc- 0Cart Maintenance & Repairs 3,000250 250 250 250 250 250 250 250 250 250 250 250Dues and Subscriptions 0Freight / Delivery 90075 75 75 75 75 75 75 75 75 75 75 75Travel 0Entertainment 0Auto Expense 0Equipment Rental 0Non-Capital Equipment 0Uniforms4,6252,000 500 925 1,000 200Laundry and Linen 1,690155 155 155 155 155 155 155 155 150 150 75 75Telephone 0Professional Fees 0Employee Relations (Emp.of Month/Xmas) 0Miscellaneous 1,150125 75 75 75 75 75 75 75 125 125 125 125 TOTAL OTHER EXPENSES 20,950 1,350 1,300 1,300 3,325 1,825 1,325 1,395 1,395 2,365 1,440 2,365 1,565 TOTAL EXPENSES 232,779 15,929 15,917 15,928 14,768 20,446 21,413 22,111 22,707 22,644 21,294 21,160 18,461Expendable Supplies are made up of: - Scorecards, Tees, Pencils, Trash Bags,Cups, First Aid Supplies & Bottled Water for guests.Uniforms- Each employee receive 4 shirts, 1 hat per season12 2006-2007 ANNUAL PLAN 4th (FOURTH) ROUND SilverRock ResortRUN DATE: 30-May-06 12:02 PMProjections - July 2006 to June 2007PREPARED BY: Landmark Golf ManagementGOLF SHOP MERCHANDISE - 61 TOTAL JUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN.PAYROLL ESTIMATE HEAD GOLF PROFESSIONAL111111111111 ASSISTANT PROFESSIONAL111111111111 ASSISTANT PROFESSIONAL 111111111111 SALES CLERKS (FULL TIME)111222222222 SALES CLERKS (PART TIME)001111111110445666666665HOURLY WAGE ESTIMATE HEAD GOLF PROFESSIONAL$40,000.00$19.23 $19.23 $19.23 $19.23 $19.23 $19.23 $19.23 $19.23 $19.23 $19.23 $19.23 $19.23 ASSISTANT PROFESSIONAL$28,000.00$13.46 $13.46 $13.46 $13.46 $13.46 $13.46 $13.46 $13.46 $13.46 $13.46 $13.46 $13.46 ASSISTANT PROFESSIONAL $26,000.00$12.50 $12.50 $12.50 $12.50 $12.50 $12.50 $12.50 $12.50 $12.50 $12.50 $12.50 $12.50 SALES CLERKS (FULL TIME)$10.00$10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $10.00 SALES CLERKS (PART TIME)$8.50$8.50 $8.50 $8.50 $8.50 $8.50 $8.50 $8.50 $8.50 $8.50 $8.50 $8.50 $8.50HOURS WORKED HEAD GOLF PROFESSIONAL2,080173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 ASSISTANT PROFESSIONAL1,973173.3 173.3 173.3 173.3 160.0 160.0 160.0 160.0 160.0 160.0 160.0 160.0 ASSISTANT PROFESSIONAL 1,913173.3 173.3 173.3 20.0 160.0 173.3 173.3 173.3 173.3 173.3 173.3 173.3 SALES CLERKS (FULL TIME)1,913173.3 173.3 173.3 20.0 160.0 173.3 173.3 173.3 173.3 173.3 173.3 173.3 SALES CLERKS (PART TIME)1,546138.7 138.7 138.7 20.0 138.7 138.7 138.7 138.7 138.7 138.7 138.7 138.7SALARIES HEAD GOLF PROFESSIONAL39,9923,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333 ASSISTANT PROFESSIONAL26,5622,333 2,333 2,333 2,333 2,154 2,154 2,154 2,154 2,154 2,154 2,154 2,154 ASSISTANT PROFESSIONAL 23,9132,166 2,166 2,166 250 2,000 2,166 2,166 2,166 2,166 2,166 2,166 2,166 SALES CLERKS (FULL TIME)33,0611,733 1,733 1,733 400 3,200 3,466 3,466 3,466 3,466 3,466 3,466 3,466 SALES CLERKS (PART TIME)9,6020 0 1,179 170 1,179 1,179 1,179 1,179 1,179 1,179 1,179 0133,130 9,565 9,565 10,744 6,486 11,865 12,298 12,298 12,298 12,298 12,298 12,298 11,119GOLF SHOP MERCHANDISE SALESTOTAL # OF ROUNDS39,2201,880 1,880 2,880 1,100 3,840 3,840 3,575 4,650 4,950 4,875 3,350 2,400AVERAGE REVENUE / ROUND$7.94 $7.00 $7.00 $7.00 $7.50 $8.50 $8.50 $8.50 $8.50 $8.50 $8.00 $7.00 $7.00TOTAL MERCHANDISE SALES$311,24813,160 13,160 20,160 8,250 32,640 32,640 30,388 39,525 42,075 39,000 23,450 16,80046,480 73,530MERCHANDISE REVENUE65.00%35.00%Soft Goods Sales202,3118,554 8,554 13,104 5,363 21,216 21,216 19,752 25,691 27,349 25,350 15,243 10,920Hard Goods Sales108,9374,606 4,606 7,056 2,888 11,424 11,424 10,636 13,834 14,726 13,650 8,208 5,880Misc. Golf Shop Sales0000000000000Sales Discounts - 0000000000000Sales Discounts - Hit the Green (1%)0000000000000 TOTAL MERCHANDISE REVENUE 311,248 13,160 13,160 20,160 8,250 32,640 32,640 30,388 39,525 42,075 39,000 23,450 16,800COST OF SALES58.00%58.00% 58.00% 58.00% 58.00% 58.00% 58.00% 58.00% 58.00% 58.00% 58.00% 58.00% 58.00%COS - Merchandise (58%)187,0607,909 7,909 12,116 4,958 19,617 19,617 18,263 23,755 25,287 23,439 14,093 10,097Purchase Disc Taken - (5%)(9,353)(395) (395) (606) (248) (981) (981) (913) (1,188) (1,264) (1,172) (705) (505)Freight - Merchandise2,806119 119 182 74 294 294 274 356 379 352 211 151 TOTAL COST OF SALES 180,5137,632 7,632 11,692 4,785 18,930 18,930 17,624 22,923 24,402 22,619 13,600 9,743GROSS PROFIT 130,7355,528 5,528 8,468 3,465 13,710 13,710 12,764 16,602 17,673 16,381 9,850 7,05713 2006-2007 ANNUAL PLAN 4th (FOURTH) ROUND SilverRock ResortRUN DATE: 30-May-06 12:02 PMProjections - July 2006 to June 2007PREPARED BY: Landmark Golf ManagementGOLF SHOP MERCHANDISE - 61 TOTAL JUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN.SALARIES AND BENEFITSSalaries and Wages133,1309,565 9,565 10,744 6,486 11,865 12,298 12,298 12,298 12,298 12,298 12,298 11,119Incentives \ Bonus 0000000000000Incentives \ Commission 0000000000000Payroll Taxes 16,5751,191 1,191 1,338 807 1,477 1,531 1,531 1,531 1,531 1,531 1,531 1,384Workers' Compensation 13,313956 956 1,074 649 1,187 1,230 1,230 1,230 1,230 1,230 1,230 1,112Employee Meals 3,960240 240 300 360 360 360 360 360 360 360 360 300Health Insurance31,3201,440 1,440 1,440 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 TOTAL SALARIES AND BENEFITS 198,29713,392 13,392 14,896 11,302 17,889 18,419 18,419 18,419 18,419 18,419 18,419 16,915SUPPLIES AND MATERIALSExpendable Supplies 0 TOTAL SUPPLIES AND MATERIALS 0000000000000OTHER EXPENSESOffice Supplies 1,525150 150 150 500 100 100 150 45 45 45 45 45Postage 0Contract Services - Merchandise Consultant6,000500 500 500 500 500 500 500 500 500 500 500 500Recruiting / Relocation0Dues and Subscriptions 1,5001,500Freight / Delivery 7525 25 25Travel 9015 15 15 15 15 15Entertainment 0Auto Expense 0Equipment Rental 0Non-Capital Equipment 0Uniforms1,800100 100 100 100 100 200 200 200 200 200 200 100Laundry and Linen 0Telephone 0Professional Fees 0Seminars / Training 1,960750 150 150 500 100 100 35 35 35 35 35 35Miscellaneous 45050 50 50 50 50 50 50 50 50 TOTAL OTHER EXPENSES 13,4001,500 900 900 1,675 875 975 950 845 845 845 2,345 745 TOTAL EXPENSES 211,69714,892 14,292 15,796 12,977 18,764 19,394 19,369 19,264 19,264 19,264 20,764 17,660TOTAL GOLF SHOP MERCHANDISE INCOME (LOSS) (80,962) (9,364) (8,764) (7,328) (9,511) (5,054) (5,684) (6,605) (2,662) (1,591) (2,882) (10,914)(10,603)Expendable Supplies are made up of: Golf Cart Rental Agreements,Golf Club Rental Agreements, Gift Certificates & Merchandise BagsUniforms- Each Full-Time Emp receives (1) shirt per month14 2006-2007 ANNUAL PLAN 4th (FOURTH) ROUND SilverRock ResortRUN DATE: 30-May-06 12:02 PMProjections - July 2006 to June 2007PREPARED BY: Landmark Golf ManagementCOURSE SERVICES - 643TOTAL JUL.AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR.APR. MAY JUN.PAYROLL ESTIMATE STARTERS (PART TIME) 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.0 RANGER/MARSHALS (PART TIME) 1.0 1.0 2.0 2.0 3.0 3.0 3.0 3.0 3.0 3.0 2.0 2.0334455555544HOURLY WAGE ESTIMATE STARTERS (PART TIME)$7.25$7.25 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25 RANGER/MARSHALS (PART TIME)$7.25$7.25 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25 $7.25HOURS WORKED STARTERS (PART TIME)1,353121.3 121.3 121.3 40.0 100.0 121.3 121.3 121.3 121.3 121.3 121.3 121.3 RANGER/MARSHALS (PART TIME)1,353121.3 121.3 121.3 40.0 100.0 121.3 121.3 121.3 121.3 121.3 121.3 121.3SALARIES STARTERS (PART TIME)19,6231,759 1,759 1,759 580 1,450 1,759 1,759 1,759 1,759 1,759 1,759 1,759 RANGER/MARSHALS (PART TIME)22,987880 880 1,759 580 2,175 2,639 2,639 2,639 2,639 2,639 1,759 1,75942,611 2,639 2,639 3,519 1,160 3,625 4,398 4,398 4,398 4,398 4,398 3,519 3,519SALARIES AND BENEFITSSalaries and Wages42,6112,639 2,639 3,519 1,160 3,625 4,398 4,398 4,398 4,398 4,398 3,519 3,519Incentives \ Bonus 0000000000000Incentives \ Commission 0000000000000Payroll Taxes 5,305329 329 438 144 451 548 548 548 548 548 438 438Workers' Compensation 4,261264 264 352 116 363 440 440 440 440 440 352 352Employee Meals 3,120180 180 240 240 300 300 300 300 300 300 240 240Health Insurance 0000000000000 TOTAL SALARIES AND BENEFITS55,2973,411 3,411 4,549 1,660 4,739 5,686 5,686 5,686 5,686 5,686 4,549 4,549SUPPLIES AND MATERIALSExpendable Supplies 1,05050 50 100 100 100 100 100 100 100 100 75 75Course Services Supplies 0000000000000 TOTAL SUPPLIES AND MATERIALS1,05050 50 100 100 100 100 100 100 100 100 75 75REPAIRS AND MAINTENANCEBuilding Structures 0000000000000Equipment Repair 0000000000000 TOTAL REPAIRS AND MAINTENANCE 0000000000000OTHER EXPENSESOffice Supplies 0000000000000Contract Services 0000000000000Recruiting / Relocation 0000000000000Dues and Subscriptions 0000000000000Freight / Delivery 0000000000000Travel 0000000000000Auto Expense 0000000000000Equipment Rental 0000000000000Non-Capital Equipment 0000000000000Uniforms 1,65075 75 75 500 75 75 75 75 75 400 75 75Laundry and Linen0000000000000Telephone Tee-Time 0000000000000Seminars / Training0000000000000Refuse Disposal 0000000000000Electricity 0000000000000Water & Sewers0000000000000Safety Equipment 60050 50 50 50 50 50 50 50 50 50 50 50Employee Relations 0Miscellaneous 20050 50 50 50 TOTAL OTHER EXPENSES 2,451125 125 125 600 175 175 176 125 125 450 125 125 TOTAL COURSE SERVICES EXPENSES58,7973,586 3,586 4,774 2,360 5,014 5,961 5,961 5,911 5,911 6,236 4,749 4,749Expendable Supplies are made up of: Clipboards, Paper (starter sheets,ranger sheets), Towels, Trash BagsUniforms- Each employee receives 4 shirts, 1 hat per season15 SilverRock ResortRUN DATE: 30-May-06 12:02 PMProjections - July 2006 to June 2007PREPARED BY: Landmark Golf ManagementMAINTENANCE DEPARTMENT - 63 TOTAL JUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN.PAYROLL ESTIMATESUPERINTENDENT$92,000.00111111111111ASST SUPERINTENDENT$49,000.00111111111111FOREMAN/SPRAY TECHNICIAN$14.52111111111111HEAD MECHANIC / FACILITY MANAGER$22.00111111111111ASST MECHANIC$12.00111111111111HEAD IRRIGATOR$15.50111111111111ASST IRRIGATOR$11.50111111111111GREENSMEN$9.5018 18 18 18 18 18 18 18 18 18 18 18ADMINISTRATIVE ASSISTANT $14.00111111111111TOTAL TURF & ADMIN STAFF 26 26 26 26 26 26 26 26 26 26 26 26LANDSCAPE MAINTENANCEFOREMAN$15.00111111111111IRRIGATOR$11.33111111111111LANDSCAPERS$8.25666666666666TOTAL LANDSCAPE CREW888888888888TOTAL COURSE MAINTENANCE STAFF 34 34 34 34 34 34 34 34 34 34 34 34HOURLY WAGE ESTIMATESUPERINTENDENT$92,000.00$44.23 $44.23 $44.23 $44.23 $44.23 $44.23 $44.23 $44.23 $44.23 $44.23 $44.23 $44.23ASST SUPERINTENDENT$49,000.00$23.56 $23.56 $23.56 $23.56 $23.56 $23.56 $23.56 $23.56 $23.56 $23.56 $23.56 $23.56FOREMAN/SPRAY TECHNICIAN$14.52$14.52 $14.52 $14.52 $14.52 $14.52 $14.52 $14.52 $14.52 $14.52 $14.52 $14.52 $14.52HEAD MECHANIC / FACILITY MANAGER$22.00$22.00 $22.00 $22.00 $22.00 $22.00 $22.00 $22.00 $22.00 $22.00 $22.00 $22.00 $22.00ASST MECHANIC$12.00$12.00 $12.00 $12.00 $12.00 $12.00 $12.00 $12.00 $12.00 $12.00 $12.00 $12.00 $12.00HEAD IRRIGATOR$15.50$15.50 $15.50 $15.50 $15.50 $15.50 $15.50 $15.50 $15.50 $15.50 $15.50 $15.50 $15.50ASST IRRIGATOR$11.50$11.50 $11.50 $11.50 $11.50 $11.50 $11.50 $11.50 $11.50 $11.50 $11.50 $11.50 $11.50GREENSMEN$9.50$9.50 $9.50 $9.50 $9.50 $9.50 $9.50 $9.50 $9.50 $9.50 $9.50 $9.50 $9.50ADMINISTRATIVE ASSISTANT $14.00$14.00 $14.00 $14.00 $14.00 $14.00 $14.00 $14.00 $14.00 $14.00 $14.00 $14.00 $14.00LANDSCAPE MAINTENANCEFOREMAN$15.00$15.00 $15.00 $15.00 $15.00 $15.00 $15.00 $15.00 $15.00 $15.00 $15.00 $15.00 $15.00IRRIGATOR$11.33$11.33 $11.33 $11.33 $11.33 $11.33 $11.33 $11.33 $11.33 $11.33 $11.33 $11.33 $11.33LANDSCAPERS$8.25$8.25 $8.25 $8.25 $8.25 $8.25 $8.25 $8.25 $8.25 $8.25 $8.25 $8.25 $8.25REGULAR HOURS WORKEDSUPERINTENDENT2,080173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3ASST SUPERINTENDENT2,080173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3FOREMAN/SPRAY TECHNICIAN2,080173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3HEAD MECHANIC / FACILITY MANAGER2,080173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3ASST MECHANIC2,080173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3HEAD IRRIGATOR2,080173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3ASST IRRIGATOR2,080173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3GREENSMEN2,080173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3ADMINISTRATIVE ASSISTANT 2,080173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3LANDSCAPE MAINTENANCEFOREMAN2,080173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3IRRIGATOR2,080173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3LANDSCAPERS2,080173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.32006-2007 ANNUAL PLAN 4th (FOURTH) ROUND 16 SilverRock ResortRUN DATE: 30-May-06 12:02 PMProjections - July 2006 to June 2007PREPARED BY: Landmark Golf ManagementMAINTENANCE DEPARTMENT - 63 TOTAL JUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN.2006-2007 ANNUAL PLAN 4th (FOURTH) ROUND OVERTIME HOURSFOREMAN/SPRAY TECHNICIAN440.0 0.0 0.0 28.0 0.0 0.0 8.0 0.0 0.0 0.0 0.0 8.0HEAD MECHANIC / FACILITY MANAGER440.0 0.0 0.0 28.0 0.0 0.0 8.0 0.0 0.0 0.0 0.0 8.0ASST MECHANIC440.0 0.0 0.0 28.0 0.0 0.0 8.0 0.0 0.0 0.0 0.0 8.0HEAD IRRIGATOR440.0 0.0 0.0 28.0 0.0 0.0 8.0 0.0 0.0 0.0 0.0 8.0ASST IRRIGATOR440.0 0.0 0.0 28.0 0.0 0.0 8.0 0.0 0.0 0.0 0.0 8.0GREENSMEN440.0 0.0 0.0 28.0 0.0 0.0 8.0 0.0 0.0 0.0 0.0 8.0ADMINISTRATIVE ASSISTANT 80.0 0.0 0.0 0.0 0.0 0.0 8.0 0.0 0.0 0.0 0.0 0.0LANDSCAPE MAINTENANCEFOREMAN560.0 0.0 8.0 24.0 8.0 0.0 8.0 0.0 0.0 0.0 0.0 8.0IRRIGATOR560.0 0.0 8.0 24.0 8.0 0.0 8.0 0.0 0.0 0.0 0.0 8.0LANDSCAPERS560.0 0.0 8.0 24.0 8.0 0.0 8.0 0.0 0.0 0.0 0.0 8.0SUPERINTENDENT91,9887,665 7,665 7,665 7,665 7,665 7,665 7,665 7,665 7,667 7,667 7,667 7,667ASST SUPERINTENDENT48,9964,083 4,083 4,083 4,083 4,083 4,083 4,083 4,083 4,083 4,083 4,083 4,083TOTAL MANAGEMENT SALARIES11,748 11,748 11,748 11,748 11,748 11,748 11,748 11,748 11,750 11,750 11,750 11,750FOREMAN/SPRAY TECHNICIAN30,1962,516 2,516 2,516 2,516 2,516 2,516 2,516 2,516 2,517 2,517 2,517 2,517Overtime958000610001740000174HEAD MECHANIC / FACILITY MANAGER45,7563,813 3,813 3,813 3,813 3,813 3,813 3,813 3,813 3,813 3,813 3,813 3,813Overtime1,452000924002640000264ASST MECHANIC24,9602,080 2,080 2,080 2,080 2,080 2,080 2,080 2,080 2,080 2,080 2,080 2,080Overtime792000504001440000144HEAD IRRIGATOR32,2362,686 2,686 2,686 2,686 2,686 2,686 2,686 2,686 2,687 2,687 2,687 2,687Overtime1,023000651001860000186ASST IRRIGATOR23,9161,993 1,993 1,993 1,993 1,993 1,993 1,993 1,993 1,993 1,993 1,993 1,993Overtime759000483001380000138GREENSMEN355,62829,634 29,634 29,634 29,634 29,634 29,634 29,634 29,634 29,639 29,639 29,639 29,639Overtime11,2860 0 0 7,182 0 0 2,05200002,052ADMINISTRATIVE ASSISTANT 29,1162,426 2,426 2,426 2,426 2,426 2,426 2,426 2,426 2,427 2,427 2,427 2,427Overtime16800000016800000TOTAL HOURLY WAGES699,062 45,148 45,148 45,148 55,502 45,148 45,148 48,274 45,148 45,156 45,156 45,156 48,114LANDSCAPE MAINTENANCEFOREMAN31,2002,600 2,600 2,600 2,600 2,600 2,600 2,600 2,600 2,600 2,600 2,600 2,600Overtime1,2600018054018001800000180IRRIGATOR23,5561,963 1,963 1,963 1,963 1,963 1,963 1,963 1,963 1,963 1,963 1,963 1,963Overtime9520013640813601360000136LANDSCAPERS102,9368,578 8,578 8,578 8,578 8,578 8,578 8,578 8,578 8,578 8,578 8,578 8,578Overtime4,1580 0 594 1,782 594 0 5940000594TOTAL LANDSCAPE159,904 13,141 13,141 14,051 15,871 14,051 13,141 14,051 13,141 13,141 13,141 13,141 14,051TOTAL COURSE MAINTENANCE PAYROLL 858,966 70,037 70,037 70,947 83,121 70,947 70,037 74,073 70,037 70,047 70,047 70,047 73,91517 SilverRock ResortRUN DATE: 30-May-06 12:02 PMProjections - July 2006 to June 2007PREPARED BY: Landmark Golf ManagementMAINTENANCE DEPARTMENT - 63 TOTAL JUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN.2006-2007 ANNUAL PLAN 4th (FOURTH) ROUND SALARIES AND BENEFITSSalaries and Wages699,23056,896 56,896 56,896 67,250 56,896 56,896 60,022 56,896 56,906 56,906 56,906 59,864Overtime Hourly Wages 15,6790 0 0 9,871 0 0 2,98800002,820Incentives \ Bonus 0000000000000Payroll Taxes 89,0067,084 7,084 7,084 9,602 7,084 7,084 7,845 7,084 7,085 7,085 7,085 7,804Workers' Compensation 70,9715,690 5,690 5,690 7,383 5,690 5,690 6,201 5,690 5,691 5,691 5,691 6,174Employee Meals 2,880240 240 240 240 240 240 240 240 240 240 240 240Health Insurance 70,5605,880 5,880 5,880 5,880 5,880 5,880 5,880 5,880 5,880 5,880 5,880 5,880 TOTAL SALARIES AND BENEFITS 948,326 75,790 75,790 75,790 100,226 75,790 75,790 83,176 75,790 75,802 75,802 75,802 82,782SUPPLIES AND MATERIALSFertilizer54,6504,000 4,000 4,000 10,350 5,850 2,350 3,850 3,850 3,850 3,850 3,850 4,850Flowers/Plants3,5000 0 1,000 250 0 1,000 950 100 100 100Gas & Oils40,9003,400 3,400 3,400 5,900 3,800 3,400 2,900 2,900 3,000 3,800 2,500 2,500Golf Course Accessories4,200200 200 200 2,500 200 200 200 100 100 100 100 100Pesticides14,900650 650 900 2,000 2,000 2,000 3,000 2,000 200 200 900 400POA Control6,00000003,000 0 3,00000000Sand/Mulch6,660390 390 0 2,100 2,100 800 380 100 100 100 100 100Sand/Bunker10,0000 0 10,000000000000Seed84,750350 350 250 81,000 350 350 350 350 350 350 350 350Small Tools 6,500350 5,550 0 0 100 100 100 100 100 100Sod5,7501,000 1,000 1,000 250 250 250 500 500 1,000Topdressing 3,9001,3000000000001,300 1,300 TOTAL SUPPLIES AND MATERIALS 241,710 11,640 9,990 26,300 104,350 17,550 10,350 15,230 9,500 7,800 8,600 9,700 10,700REPAIRS AND MAINTENANCEBuildings & Bridges 500250 250Equipment14,4001,000 1,000 1,500 3,500 2,500 700 700 700 700 700 700 700Irrigation System 8,450550 550 900 1,700 900 550 550 550 550 550 550 550Pumps5,0001,000 1,000 1,000 1,0001,000SW Aquatics Lake Maint Contract 14,0001,500 1,500 1,500 500 500 500 500 1,500 1,500 1,500 1,500 1,500Trees4,0003,000 1,000 TOTAL REPAIRS AND MAINTENANCE 46,350 4,050 4,050 4,900 9,700 3,900 2,750 2,000 3,000 2,750 2,750 3,750 2,75018 SilverRock ResortRUN DATE: 30-May-06 12:02 PMProjections - July 2006 to June 2007PREPARED BY: Landmark Golf ManagementMAINTENANCE DEPARTMENT - 63 TOTAL JUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN.2006-2007 ANNUAL PLAN 4th (FOURTH) ROUND OTHER EXPENSESContract Services Soil/Tissue Tests4,0002,0002,000Dues and Subscriptions 900200 200 200 200 100Employee Education60050 50 50 50 50 50 50 50 50 50 50 50Equipment Rental 4,200200 150 150 1,800 600 200 200 200 200 200 200 100Auto Expense6,000500 500 500 500 500 500 500 500 500 500 500 500Licenses and Permits 1,800100 100 1,000 200 250 150Miscellaneous1,200100 100 100 100 100 100 100 100 100 100 100 100Supplies Miscellaneous1,200100 100 100 100 100 100 100 100 100 100 100 100Propane/Natural Gas 1,800150 150 150 150 150 150 150 150 150 150 150 150Safety Equipment & Training3,400100 100 1,700 200 200 200 200 200 200 100 100 100Telephone 4,200350 350 350 350 350 350 350 350 350 350 350 350Trash Removal4,800400 400 400 400 400 400 400 400 400 400 400 400Green Waste Removal14,000300 300 300 5,000 6,000 300 300 300 300 300 300 300Uniforms & Linen/Towels 9,390720 720 720 1,470 720 720 720 720 720 720 720 720Utitilities-Electricity-Buildings22,0802,274 3,151 1,765 1,918 2,070 1,605 1,109 1,106 1,021 1,526 2,175 2,360 TOTAL OTHER EXPENSES 79,570 5,544 6,171 8,285 12,038 11,440 4,675 5,179 4,576 4,341 4,846 7,145 5,330TOTAL MAINTENANCE EXP. (EXCL Landscaping) 1,315,956 97,024 96,001 115,275 226,314 108,680 93,565 105,585 92,866 90,693 91,998 96,397 101,562LANDSCAPEWages 157,692 13,141 13,141 13,141 13,141 13,141 13,141 13,141 13,141 13,141 13,141 13,141 13,141Overtime Hourly Wages 6,370 0 0 910 2,730 910 0 9100000910Payroll Taxes 20,426 1,636 1,636 1,749 1,976 1,749 1,636 1,749 1,636 1,636 1,636 1,636 1,749Workers' Compensation 16,194 1,314 1,314 1,375 1,496 1,375 1,314 1,375 1,314 1,314 1,314 1,314 1,375Health Insurance 13,248 1,104 1,104 1,104 1,104 1,104 1,104 1,104 1,104 1,104 1,104 1,104 1,104Landscape Wages & Benefits 213,93017,195 17,195 18,279 20,447 18,279 17,195 18,279 17,195 17,195 17,195 17,195 18,279Small Tools 1,025 100 100 100 100 100 75 75 75 75 75 75 75Repairs & Maintenance - Drip Irrigation 4,250 250 250 500 500 500 500 250 250 250 250 250 500Uniforms 2,880 240 240 240 240 240 240 240 240 240 240 240 240TOTAL LANDSCAPE MAINTENANCE222,085 17,785 17,785 19,119 21,287 19,119 18,010 18,844 17,760 17,760 17,760 17,760 19,094COURSE & LANDSCAPE MAINTENANCE TOTAL 1,538,041114,809 113,786 134,394 247,601 127,799 111,575 124,429 110,626 108,453 109,758 114,157 120,657(EXCL UTILITIES)WATER & ELECTRICITY COSTSWater Cost18,1261,814 1,659 574 1,969 1,349 1,349 1,504 1,427 1,504 1,504 1,659 1,814Electricity Pumping Costs183,64220,360 26,050 12,775 14,671 16,568 14,671 7,086 8,982 8,982 12,775 22,258 18,464 TOTAL WATER AND ELECTRIC COST 201,76822,174 27,709 13,349 16,640 17,917 16,020 8,590 10,409 10,486 14,279 23,917 20,278 TOTAL COURSE MAINTENANCE EXPENSES 1,739,808 136,983 141,495 147,743 264,241 145,716 127,595 133,019 121,034 118,939 124,037 138,074 140,93519 SilverRock ResortRUN DATE: 30-May-06 12:15 PMProjections - July 2006 to June 2007PREPARED BY: Landmark Golf ManagementG & A DEPARTMENT - 67 TOTAL JUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN.PAYROLL ESTIMATE DIRECTOR OF GOLF/GM 1 1 1 1 1 1 1 1 1 1 1 1 CLUB CONTROLLER 1 1 1 1 1 1 1 1 1 1 1 1 ADMINISTRATIVE ASSISTANT 1 1 1 1 1 1 1 1 1 1 1 1333333333333HOURLY WAGE ESTIMATE DIRECTOR OF GOLF/GM $99,000.00 $47.60 $47.60 $47.60 $47.60 $47.60 $47.60 $47.60 $47.60 $47.60 $47.60 $47.60 $47.60 CLUB CONTROLLER $60,000.00 $28.85 $28.85 $28.85 $28.85 $28.85 $28.85 $28.85 $28.85 $28.85 $28.85 $28.85 $28.85 ADMINISTRATIVE ASSISTANT $15.75 $15.75 $15.75 $15.75 $15.75 $15.75 $15.75 $15.75 $15.75 $15.75 $15.75 $15.75 $15.75HOURS WORKED DIRECTOR OF GOLF/GM2,080173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 CLUB CONTROLLER2,080173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 ADMINISTRATIVE ASSISTANT2,080173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3SALARIES DIRECTOR OF GOLF/GM98,9988,250 8,250 8,250 8,250 8,250 8,250 8,250 8,250 8,250 8,250 8,250 8,250 CLUB CONTROLLER59,9995,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 ADMINISTRATIVE ASSISTANT32,7592,730 2,730 2,730 2,730 2,730 2,730 2,730 2,730 2,730 2,730 2,730 2,730191,756 15,980 15,980 15,980 15,980 15,980 15,980 15,980 15,980 15,980 15,980 15,980 15,980SALARIES AND BENEFITSSalaries and Wages191,75615,980 15,980 15,980 15,980 15,980 15,980 15,980 15,980 15,980 15,980 15,980 15,980Incentives \ Bonus 0000000000000Payroll Taxes 23,8741,989 1,989 1,989 1,989 1,989 1,989 1,989 1,989 1,989 1,989 1,989 1,989Workers' Compensation 19,1761,598 1,598 1,598 1,598 1,598 1,598 1,598 1,598 1,598 1,598 1,598 1,598Employee Meals 2,160180 180 180 180 180 180 180 180 180 180 180 180Health Insurance 27,3602,280 2,280 2,280 2,280 2,280 2,280 2,280 2,280 2,280 2,280 2,280 2,280 TOTAL SALARIES AND BENEFITS 264,32622,027 22,027 22,027 22,027 22,027 22,027 22,027 22,027 22,027 22,027 22,027 22,027REPAIRS AND MAINTENANCEEquipment Repair 1,200100 100 100 100 100 100 100 100 100 100 100 100TOTAL REPAIRS AND MAINTENANCE 1,200100 100 100 100 100 100 100 100 100 100 100 100OTHER EXPENSESOffice Supplies 1,500125 125 125 125 125 125 125 125 125 125 125 125Printing / Stationary 3,200100 100 100 100 400 400 400 400 400 400 400Postage 90075 75 75 75 75 75 75 75 75 75 75 75Contract Services 0Recruiting / Relocation 2,000500 500 500 500Dues and Subscriptions 1,50050 200 50 50 200 150 150 50 50 500 50Freight / Delivery 60050 50 50 50 50 50 50 50 50 50 50 50Travel 1,100100100 200 500 200Entertainment & Promotion 1,200100 100 100 100 100 100 100 100 100 100 100 100Auto Expense 4,800400 400 400 400 400 400 400 400 400 400 400 400Equipment Rental (Copier/Storage) 4,200350 350 350 350 350 350 350 350 350 350 350 3502006-2007 ANNUAL PLAN 4th (FOURTH) ROUND 20 SilverRock ResortRUN DATE: 30-May-06 12:15 PMProjections - July 2006 to June 2007PREPARED BY: Landmark Golf ManagementG & A DEPARTMENT - 67 TOTAL JUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN.2006-2007 ANNUAL PLAN 4th (FOURTH) ROUND Non-Capital Equipment 900100 100 100 100 100 100 100 100 100Uniforms 1,05075 75 75 150 150 75 75 75 75 75 75 75Laundry and Linen 0Professional Fees (I.T. & Safety Fees)4,800400 400 400 400 400 400 400 400 400 400 400 400Seminars / Training 900100 100 100 100 100 0 0 0 0 100 200 100Payroll Processing6,600550 550 550 550 550 550 550 550 550 550 550 550Computer Supplies (POS Support Fees)6,000500 500 500 500 500 500 500 500 500 500 500 500Civic and Community Expense0Bank & ADP Fees3,600300 300 300 300 300 300 300 300 300 300 300 300Management Reimburseables0Employee Relations0Miscellaneous 1,200100 100 100 100 100 100 100 100 100 100 100 100 TOTAL OTHER EXPENSES 46,0503,175 3,325 4,025 3,950 3,950 4,225 3,675 3,775 3,575 3,875 4,725 3,775TOTAL G & A EXPENSES 311,57625,302 25,452 26,152 26,077 26,077 26,352 25,802 25,902 25,702 26,002 26,852 25,902Uniforms- Expense to be shared between GM & ControllerEntertainment & Promotion - GM promoting property for potential clients21 SilverRock ResortMARKETING 30-May-06 12:15 PMProjections - July 2006 to June 2007PREPARED BY: Landmark Golf ManagementTEMPORARY CLUBHOUSE - 800 TOTALJUL.AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR.APR. MAYJUN.SUPPLIES AND MATERIALSExpendable Supplies 4,800400 400 400 400 400 400 400 400 400 400 400 400Equipment Lease 000000000 0000Laundry Supplies 000000000 0000 TOTAL SUPPLIES AND MATERIALS4,800400 400 400 400 400 400 400 400 400 400 400 400REPAIRS AND MAINTENANCEBuilding Structures 2,400200 200 200 200 200 200 200 200 200 200 200 200Restaurant Repairs 2,400200 200 200 200 200 200 200 200 200 200 200 200Equipment Repair 2,400200 200 200 200 200 200 200 200 200 200 200 200 TOTAL REPAIRS AND MAINTENANCE7,200600 600 600 600 600 600 600 600 600 600 600 600OTHER EXPENSESContract Services Cleaning 21,0001,750 1,750 1,750 1,750 1,750 1,750 1,750 1,750 1,750 1,750 1,750 1,750Dues and Subscriptions 0Non-Capital Equipment 0Uniforms - Clubhouse0Seminars/Training 0Cleaning Supplies 0Refuse Disposal 4,800400 400 400 400 400 400 400 400 400 400 400 400Electricity 42,7954,073 4,526 3,168 2,512 2,512 2,512 2,715 4,226 4,073 4,226 4,226 4,026Telephone 8,100675 675 675 675 675 675 675 675 675 675 675 675Telephone - Cell Phones0Cable-Roadrunner3,800317 317 317 317 317 317 317 317 317 317 317 317Water 2,400200 200 200 200 200 200 200 200 200 200 200 200Sewer 2,400200 200 200 200 200 200 200 200 200 200 200 200Safety Equipment 1,200100 100 100 100 100 100 100 100 100 100 100 100Natural Gas 2,400200 200 200 200 200 200 200 200 200 200 200 200Flowers and Decorations 2,600100 100 100 100 100 100 1,500 100 100 100 100 100Building Security (Roving Patrol)93,6007,800 7,800 7,800 7,800 7,800 7,800 7,800 7,800 7,800 7,800 7,800 7,800Miscellaneous 0 TOTAL OTHER EXPENSES 185,09515,815 16,268 14,910 14,254 14,254 14,254 15,857 15,968 15,815 15,968 15,968 15,768 TOTAL CLUBHOUSE EXPENSES 197,09516,815 17,268 15,910 15,254 15,254 15,254 16,857 16,968 16,815 16,968 16,968 16,768Expendable Supplies made up of: Locksmith, Trashbags, Lightbulbs, Mats,Items related to Maintenance of Clubhouse2006-2007 ANNUAL PLAN 4th (FOURTH) ROUND22 2006-2007 ANNUAL PLAN 4th (FOURTH) ROUND SilverRock ResortMARKETING 30-May-06 12:15 PMProjections - July 2006 to June 2007PREPARED BY: Landmark Golf ManagementMARKETING DEPARTMENT - 66TOTALJUL.AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR.APR. MAYJUN.PAYROLL ESTIMATETOURNAMENT SALES38,000.00$ 111111111111111111111111SALARIES AND BENEFITSSalaries and Wages38,0043,167 3,167 3,167 3,167 3,167 3,167 3,167 3,167 3,167 3,167 3,167 3,167Payroll Taxes 4,731394 394 394 394 394 394 394 394 394 394 394 394Workers' Compensation 3,800317 317 317 317 317 317 317 317 317 317 317 317Employee Meals 72060 60 60 60 60 60 60 60 60 60 60 60Health Insurance 1,800150 150 150 150 150 150 150 150 150 150 150 150 TOTAL SALARIES AND BENEFITS 49,0564,088 4,088 4,088 4,088 4,088 4,088 4,088 4,088 4,088 4,088 4,088 4,088OTHER EXPENSESOffice Supplies 1,200100 100 100 100 100 100 100 100 100 100 100 100Printing / Stationary 4,425200 3,000 200 200 200 125 125 125 125 125Postage 60050 50 50 50 50 50 50 50 50 50 50 50Contract Services Web Page 2,100175 175 175 175 175 175 175 175 175 175 175 175Dues and Subscriptions 73535 400 300Auto/Gas Expenses 0Uniforms 600300 50 50 50 50 50 50Telephone 1,200100 100 100 100 100 100 100 100 100 100 100 100Seminars / Training 0Civic, Community and Trade Show 2,92575 75 75 750 750 750 75 75 75 75 75 75Direct Mail 0Promotions / Meals 30025 25 25 25 25 25 25 25 25 25 25 25Promotion - (Media, Vendor Days, etc)70050 50 50 300 50 50 50 50 50Advertising (Ad Purchases) 175,2905,085 6,835 17,255 10,735 16,485 19,135 18,485 27,585 17,735 17,235 10,335 8,385Collateral Material - (Yrd Bks, Rack Cds, Statn, Brochures)9,0000 0 0 2,500 1,000 0 2,500 500 500 500 1,000 500Miscellaneous35050 50 50 50 50 50 50 TOTAL OTHER EXPENSES 199,425 5,610 7,360 17,980 17,785 19,035 20,685 22,145 29,285 19,335 18,535 12,085 9,585 TOTAL MARKETING EXPENSES 248,481 9,698 11,448 22,068 21,873 23,123 24,773 26,233 33,373 23,423 22,623 16,173 13,673Uniforms- Golf Sales ManagerPromotion/Meals - Off property events (Chamber Mixers, Rotaries andentertaining potential clients)Promotion/Media/Vendor Days - Radio/TV Onsite Broadcasting.Vendor Days - Show casing property in exchange for positive publicity23 SilverRock ResortRUN DATE: 30-May-06 12:15 PMProjections - July 2006 to June 2007PREPARED BY: Landmark Golf ManagementMISC. DEPARTMENT - 980 & 990 TOTALJUL.AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR.APR. MAYJUN.7,500MISC OTHER EXPENSESManagement Fee - Fixed125,19618,731 18,256 12,044 15,021 8,237 8,851 11,018 1,165 (141) (1,090) 14,833 18,272FF&E Reserve (2.0%)67,4262,040 2,020 3,079 1,764 6,028 6,038 7,534 9,742 10,445 9,685 5,271 3,779General Liability Insurance50,4004,200 4,200 4,200 4,200 4,200 4,200 4,200 4,200 4,200 4,200 4,200 4,200Property Taxes - Regular ($15M @ 1.25%)0Personal Property Taxes 20,0000 0 20,00000000 0000263,022 24,971 24,476 39,323 20,985 18,465 19,089 22,752 15,107 14,504 12,795 24,304 26,252LEASE EXPENSESGolf Cart Leases117,6009,800 9,800 9,800 9,800 9,800 9,800 9,800 9,800 9,800 9,800 9,800 9,800Trailer Leases7,200600 600 600 600 600 600 600 600 600 600 600 600Computer / Software Lease18,3001,525 1,525 1,525 1,525 1,525 1,525 1,525 1,525 1,525 1,525 1,525 1,525GPS Lease (Up-Link)88,8007,400 7,400 7,400 7,400 7,400 7,400 7,400 7,400 7,400 7,400 7,400 7,400Golf Course Maintenance Equipment Leases240,00020,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000 20,000471,900 39,325 39,325 39,325 39,325 39,325 39,325 39,325 39,325 39,325 39,325 39,325 39,3252006-2007 ANNUAL PLAN 4th (FOURTH) ROUND 24 SilverRock ResortRUN DATE: 30-May-06 12:15 PMProjections - July 2006 to June 2007PREPARED BY: Landmark Golf ManagementFOOD & BEVERAGE DEPT - 62 TOTAL JUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN.FOOD REVENUETOTAL NUMBER OF ROUNDS39,220 1,880 1,880 2,880 1,100 3,840 3,840 3,575 4,650 4,950 4,875 3,350 2,400GRILL ROOM/TERRACEAVERAGE FOOD REVENUE PER ROUND$3.50$3.00 $3.00 $3.00 $3.00 $4.00 $4.00 $4.00 $4.00 $4.00 $4.00 $3.00 $3.00 TOTAL SNACK SHOP FOOD REVENUE143,3905,640 5,640 8,640 3,300 15,360 15,360 14,300 18,600 19,800 19,500 10,050 7,200119,541.00$ BEVERAGE CARTSAVERAGE FOOD REVENUE PER ROUND$1.44$1.00 $1.00 $1.25 $1.25 $1.25 $1.25 $1.95 $1.95 $1.95 $1.95 $1.25 $1.25 TOTAL BEVERAGE CART FOOD REVENUE60,7201,880 1,880 3,600 1,375 4,800 4,800 6,971 9,068 9,653 9,506 4,188 3,00037,813.00$ AVERAGE FOOD $ PER ROUND$4.00 $4.00 $4.25 $4.25 $5.25 $5.25 $5.95 $5.95 $5.95 $5.95 $4.25 $4.25BEVERAGE REVENUETOTAL NUMBER OF ROUNDS39,220 1,880 1,880 2,880 1,100 3,840 3,840 3,575 4,650 4,950 4,875 3,350 2,400GRILL ROOM/TERRACEAVERAGE BEVERAGE REVENUE PER ROUND $2.31$1.50 $1.50 $2.50 $2.50 $2.50 $2.75 $3.00 $3.00 $3.00 $3.00 $1.25 $1.25 TOTAL SNACK SHOP BEVERAGE REVENUE97,0882,820 2,820 7,200 2,750 9,600 10,560 10,725 13,950 14,850 14,625 4,188 3,00060.06%75,626.00$ BEVERAGE CARTSAVERAGE BEVERAGE REVENUE PER ROUND $1.57$1.25 $1.25 $1.50 $1.50 $1.50 $1.50 $1.95 $1.95 $1.95 $1.95 $1.25 $1.25 TOTAL BEVERAGE CART BEVERAGE REVENUE64,5752,350 2,350 4,320 1,650 5,760 5,760 6,971 9,068 9,653 9,506 4,188 3,00039.94%AVERAGE BEVERAGE $ PER ROUND8.82$ $2.75 $2.75 $4.00 $4.00 $4.00 $4.25 $4.95 $4.95 $4.95 $4.95 $2.50 $2.5037,816.00$ FOOD & BEVERAGE DEPT - 62PAYROLL ESTIMATEF & B MANAGER / SUPERVISOR 1 1 1111111111LINE COOK 111111111111PREP COOK 0 0 0011111100LEAD SERVER (FULL-TIME)111111111111F & B WAIT/BEVERAGE CART/HALF(FULL TIME)222222222222F & B WAIT/BEVERAGE CART/HALF(PART TIME)000011222210BUSER / DISHWASHER (PART TIME)2222222222227 7 7 7 9 9 10 10 10 10 8 7HOURLY WAGE ESTIMATEF & B MANAGER / SUPERVISOR$40,000.00$19.23 $19.23 $19.23 $19.23 $19.23 $19.23 $19.23 $19.23 $19.23 $19.23 $19.23 $19.23LINE COOK $14.00$14.00 $14.00 $14.00 $14.00 $14.00 $14.00 $14.00 $14.00 $14.00 $14.00 $14.00 $14.00PREP COOK$10.00$10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $10.00 $10.00LEAD SERVER (FULL-TIME)$12.00$12.00 $12.00 $12.00 $12.00 $12.00 $12.00 $12.00 $12.00 $12.00 $12.00 $12.00 $12.00F & B WAIT/BEVERAGE CART/HALF(FULL TIME)$7.75$7.75 $7.75 $7.75 $7.75 $7.75 $7.75 $7.75 $7.75 $7.75 $7.75 $7.75 $7.75F & B WAIT/BEVERAGE CART/HALF(PART TIME)$7.75$7.75 $7.75 $7.75 $7.75 $7.75 $7.75 $7.75 $7.75 $7.75 $7.75 $7.75 $7.75BUSER / DISHWASHER (PART TIME)$7.75$7.75 $7.75 $7.75 $7.75 $7.75 $7.75 $7.75 $7.75 $7.75 $7.75 $7.75 $7.75HOURS WORKEDF & B MANAGER / SUPERVISOR2,080173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3 173.3LINE COOK 1,853150.0 150.0 173.3 40.0 150.0 173.3 173.3 173.3 173.3 173.3 173.3 150.0PREP COOK1,853150.0 150.0 173.3 40.0 150.0 173.3 173.3 173.3 173.3 173.3 173.3 150.0LEAD SERVER (FULL-TIME)1,876150.0 150.0 173.3 40.0 150.0 173.3 173.3 173.3 173.3 173.3 173.3 173.3F & B WAIT/BEVERAGE CART/HALF(FULL TIME)1,836150.0 150.0 173.3 0.0 150.0 173.3 173.3 173.3 173.3 173.3 173.3 173.3F & B WAIT/BEVERAGE CART/HALF(PART TIME)3200.0 0.0 0.0 0.0 0.0 0.0 80.0 80.0 80.0 80.0 0.0 0.0BUSER / DISHWASHER (PART TIME)97486.7 86.7 86.7 20.0 86.7 86.7 86.7 86.7 86.7 86.7 86.7 86.7SALARIESF & B MANAGER / SUPERVISOR40,0003,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333 3,333LINE COOK 25,9432,100 2,100 2,426 560 2,100 2,426 2,426 2,426 2,426 2,426 2,426 2,100PREP COOK10,1650 0 0 0 1,500 1,733 1,733 1,733 1,733 1,733 0 0LEAD SERVER (FULL-TIME)22,5171,800 1,800 2,080 480 1,800 2,080 2,080 2,080 2,080 2,080 2,080 2,080F & B WAIT/BEVERAGE CART/HALF(FULL TIME)28,4642,325 2,325 2,686 0 2,325 2,686 2,686 2,686 2,686 2,686 2,686 2,686F & B WAIT/BEVERAGE CART/HALF(PART TIME)4,9600 0 0 0 0 0 1,240 1,240 1,240 1,240 0 0BUSER / DISHWASHER (PART TIME)15,0921,344 1,344 1,344 310 1,344 1,344 1,344 1,344 1,344 1,344 1,344 1,344147,14210,902 10,902 11,869 4,683 12,402 13,602 14,842 14,842 14,842 14,842 11,869 11,5432006-2007 ANNUAL PLAN 4th (FOURTH) ROUND 25 SilverRock ResortRUN DATE: 30-May-06 12:15 PMProjections - July 2006 to June 2007PREPARED BY: Landmark Golf ManagementFOOD & BEVERAGE DEPT - 62 TOTAL JUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN.2006-2007 ANNUAL PLAN 4th (FOURTH) ROUND FOOD REVENUESnack Shop/Terrace Food143,3905,640 5,640 8,640 3,300 15,360 15,360 14,300 18,600 19,800 19,500 10,050 7,200Beverage Cart Food60,7201,880 1,880 3,600 1,375 4,800 4,800 6,971 9,068 9,653 9,506 4,188 3,000Other Food Income0000000Non-Taxable Tournament Site Fees0000000000000Misc. Non-Taxable Site Fees (Weddings)0000000000000 TOTAL FOOD REVENUE204,1107,520 7,520 12,240 4,675 20,160 20,160 21,271 27,668 29,453 29,006 14,238 10,200BEVERAGE REVENUESnack Shop/Terrace Beer & Wine48,5441,410 1,410 3,600 1,375 4,800 5,280 5,363 6,975 7,425 7,313 2,094 1,500Snack Shop/Terrace Sodas48,5441,410 1,410 3,600 1,375 4,800 5,280 5,363 6,975 7,425 7,313 2,094 1,500Beverage Cart Beer & Wine32,2881,175 1,175 2,160 825 2,880 2,880 3,486 4,534 4,826 4,753 2,094 1,500Beverage Cart Sodas32,2881,175 1,175 2,160 825 2,880 2,880 3,486 4,534 4,826 4,753 2,094 1,500 TOTAL BEVERAGE REVENUE 161,6635,170 5,170 11,520 4,400 15,360 16,320 17,696 23,018 24,503 24,131 8,375 6,000 TOTAL FOOD & BEVERAGE REVENUE365,773 12,690 12,690 23,760 9,075 35,520 36,480 38,968 50,685 53,955 53,138 22,613 16,200LESS COST OF SALES73.98%COS - Food (38%)77,5622,858 2,858 4,651 1,777 7,661 7,661 8,083 10,514 11,192 11,022 5,410 3,876COS - Beer & Wine (25%)20,208646 646 1,440 550 1,920 2,040 2,212 2,877 3,063 3,016 1,047 750COS - Sodas (27%)21,824698 698 1,555 594 2,074 2,203 2,389 3,107 3,308 3,258 1,131 810 TOTAL COST OF SALES119,5944,202 4,202 7,646 2,921 11,654 11,904 12,684 16,498 17,563 17,297 7,588 5,43632.70%GROSS PROFIT246,178 8,488 8,488 16,114 6,155 23,866 24,576 26,283 34,187 36,392 35,841 15,025 10,764SALARIES AND BENEFITSSalaries and Wages147,14210,902 10,902 11,869 4,683 12,402 13,602 14,842 14,842 14,842 14,842 11,869 11,543Payroll Taxes 18,9961,407 1,407 1,532 605 1,601 1,756 1,916 1,916 1,916 1,916 1,532 1,490Workers' Compensation 14,7141,090 1,090 1,187 468 1,240 1,360 1,484 1,484 1,484 1,484 1,187 1,154Employee Meals 6,060420 420 420 420 540 540 600 600 600 600 480 420Health Insurance 45,9602,520 2,520 2,520 2,520 4,440 4,440 4,800 4,800 4,800 4,800 4,080 3,720 TOTAL SALARIES AND BENEFITS232,87216,340 16,340 17,528 8,696 20,224 21,698 23,642 23,642 23,642 23,642 19,148 18,327SUPPLIES AND MATERIALSExpendable Supplies 10,720620 620 620 870 870 870 2,500 750 750 750 750 750Bar Utensils 1,450350 100 100 100 100 100 100 100 100 100 100 100Menus, Napkins and Placemats 3,825175 175 175 500 250 250 550 350 350 350 350 350 TOTAL SUPPLIES AND MATERIALS15,9951,145 895 895 1,470 1,220 1,220 3,150 1,200 1,200 1,200 1,200 1,200REPAIRS AND MAINTENANCEEquipment Repair 2,400200 200 200 200 200 200 200 200 200 200 200 200 TOTAL REPAIRS AND MAINTENANCE2,400200 200 200 200 200 200 200 200 200 200 200 200OTHER EXPENSESOffice Supplies 1,500100 100 100 250 250 100 100 100 100 100 100 100Postage 0Equipment Rental 1,308109 109 109 109 109 109 109 109 109 109 109 109Non-Capital Equipment 60050 50 50 50 50 50 50 50 50 50 50 50Uniforms 2,700150 150 150 650 150 150 150 150 150 550 150 150Laundry and Linen 4,650400 400 400 250 400 400 400 400 400 400 400 400Lease Payment12,000500 500 500 1,500 1,500 1,500 1,500 1,500 1,500 500 500 500Seminars / Training 750250 25 250 25 25 25 25 25 25 25 25 25Cleaning Supplies 4,200350 350 350 350 350 350 350 350 350 350 350 350Licenses and Permits 900900Miscellaneous1,500125 125 125 125 125 125 125 125 125 125 125 125 TOTAL OTHER EXPENSES 30,1082,034 1,809 2,034 3,309 2,959 2,809 2,809 2,809 3,709 2,209 1,809 1,809 TOTAL EXPENSES 281,37519,719 19,244 20,657 13,675 24,603 25,927 29,801 27,851 28,751 27,251 22,357 21,536 TOTAL FOOD & BEVERAGE PROFIT (Loss)(35,196)(11,231)(10,756)(4,544)(7,521)(737)(1,351)(3,518)6,335 7,641 8,590(7,333)(10,772)Supplies Expendable is made up of: Smallwares, Papergoods, FirstaidUniforms- Each employee receives 4 shirts, 1 hat per season26 SilverRock Resort 2006-2007 Narrative Marketing Plan OBJECTIVE: To expand brand awareness for SilverRock Resort, promote the Arnold Palmer Classic Course as a premier golf course in the Coachella Valley and increase golf and golf-related revenues. The July 2006-June 2007 Marketing Plan is built around an annual Marketing Budget of $248,481. The plan includes: a full-time Golf Sales Manager, advertising and promotions, collateral materials, civic and community networking, golf/consumer trade shows and internet websites and e-mail marketing. GOLF SALES MANAGER The Golf Sales Manager is a full time employee, annual salary of $38,000. The job entails: assisting with the publishing and distribution of information, advertising and promotional literature; developing and maintaining a variety of networks and relationships for the purpose of increasing sales to meet revenue goals; managing data base information; selling golf outings and tournaments with food & beverage, merchandise and other club amenities; reporting outing/tournament tee times and other information to the various departments in a timely manner with follow up as needed for a smooth event; rebooking repeat business; maintaining allied associations in golf and with other organizations that contribute to the facility’s function; creating increased public interest in golf for all age groups and assisting in the coordination and communication with national associations, select local chambers, Convention and Visitors Authority, regional and local news/golf media. ADVERTISING and PROMOTIONS Advertising and promotions are targeted for La Quinta Residents and tourist/resort golfers through advertising and media coverage in local, regional and Southern California golf and travel publications. Advertising consists of local newspaper, golf and travel magazines, regional directories, local television, area radio, and a rotating local billboard. Total advertising is budgeted at $175,290 for 2006-2007. Newspaper advertising is placed in The Desert Sun with primary emphasis on the sports enthusiasts with weekly “ear ads” appearing on the front page of the Sports Section; ear ads are visible to all readers of the paper. Newspaper advertisement makes up 15% of the Marketing Budget. Special promotions are designed, as needed by season, and placed in the various print advertisements. Magazines and directories consist of local and regional magazines, yellow pages and golf-related directories. These ads vary from full page to quarter page ads and 27 are full color. Magazines and directories compose half (50%) of the advertising budget. Television commercials (30 seconds) are placed on all three local network affiliates (CBS2, KESQ3-ABC, KMIR6-NBC) and Time Warner cable stations. Local radio is used for 30-second spots and specific promotions. TV and radio ads are 15% of the advertising budget. Billboard advertising is 20% of the advertising budget and is designed to reinforce other ad programs and catch the attention of those who may not see other types of ads. The program involves a rotary billboard; every two months the location changes within the valley. The billboard ad is 10.6 feet tall and 36 feet wide. The billboard graphic design will be updated so that the SilverRock information (tee times, website, phone number, etc.) is easier to read. COLLATERIAL MATERIALS Rack cards, scorecards, and information packets on SilverRock Resort are used as marketing tools for SilverRock Resort. Upon confirmation of the Bob Hope Chrysler Classic at SilverRock in 2007, printed material will be produced, as needed, to promote SilverRock Resort as a possible “Future Home of the Bob Hope Chrysler Classic.” CIVIC AND COMMUNITY NETWORKING AND TRADESHOWS SilverRock Resort is positioned as a community-friendly golf facility and is committed to developing strong relationships with community organizations such as the La Quinta Chamber of Commerce and various local service organizations. At various venues locally and around Southern California, trade shows and expos are held that provide an opportunity to promote SilverRock Resort. These trade shows and expos are focused on tourism, golf and golf equipment/apparel, recreation, weddings and other related businesses. INTERNET WEBSITES AND E-MAIL MARKETING A benefit of memberships in selected local chambers of commerce and the Convention and Visitors Authority is access to cross-marketing opportunities through website links to SilverRock Resort. E-mail database marketing is targeted to consumer e-mail addresses that are collected daily through comment cards, tee-time bookings, selected websites and the La Quinta Resident renewal process. This e-mail database is used to send e- mail blasts promoting SilverRock Resort and/or to offer specials during slower days of the seasons in an effort to maximize tee sheet utilization. 28 SilverRock Resort Comparative Course Rates 2006 - 2007 Peak Season Course Phone Peak Season Rate $$$ Twilight Rate $$$$ Cimarron Golf Resort 760.770.6060 99.00 65.00 ** The Classic Club 760.601.3600 250.00 129.00 ** Desert Willow Golf Resort 760.346.0015 165.00 65.00 ** The Golf Club at Escena 760.778.2737 105.00 105.00 ** The Golf Resort at Indian Wells 760.346.4653 145.00 70.00 La Quinta Resort & Club 760.564.4111 199.00 115.00 ** Marriott's Desert Springs Resort & Spa 760.341.1756 150.00 80.00 ** Marriott's Shadow Ridge Golf Club 760.674.2700 165.00 105.00 ** PGA West 760.564.7170 199.00 115.00 ** ** Trilogy Golf Club at La Quinta 760.771.0707 145.00 79.00 Westin Mission Hills Resort 760.328.3198 155.00 155.00 ** ** ** Current peak rates. To date no released rates for next season ** $235.00 Outside 30 Days ** Discount offered through Tee-Sheet allocation percentages 29