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10 April 2007 SilverRock Resort - Monthly Financial Statement
Monthly Financial Statements July 2006 – April 2007 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 AprilFinal Budget Variance Percentages Unfavorable (-) Favorable (+) Final Budget Variance Annual Budget Unemcumb. % Bdgt Income400000 Golf Green Fee Revenue 418,698.83 438,628.00 (19,929.17) -4.5% 2,707,524.26 2,580,641.00 126,883.26 2,985,870.00 278,345.74 91%401000 Miscellaneous Golf Revenue 13,054.00 6,119.00 6,935.00 113.3% 93,694.87 55,145.00 38,549.87 62,181.00 (31,513.87) 151%410000 Revenue-Golf Shop 43,083.54 39,000.00 4,083.54 10.5% 262,691.00 270,999.00 (8,308.00) 311,248.00 48,557.00 84%420000 Revenue-F&B Concession 500.00 500.00 - 0.0% 11,000.00 11,000.00 - 12,000.00 1,000.00 92%890000 Interest Income 35.42 - 35.42 0.0% 237.18 - 237.18 - (237.18) Total Income 475,371.79 484,247.00 (8,875.21) -1.8% 3,075,147.31 2,917,785.00 157,362.31 3,371,299.00 296,151.69 91%Cost of Goods Sold510000 COS-Golf Shop 22,838.76 22,620.00 218.76 -1.0% 133,173.39 157,179.42 24,006.03 180,513.00 47,339.61 74%Total COS 22,838.76 22,620.00 218.76 -1.0% 133,173.39 157,179.42 24,006.03 180,513.00 47,339.61 74%Gross Profit 452,533.03 461,627.00 (9,093.97) -2.0% 2,941,973.92 2,760,605.58 181,368.34 3,190,786.00 248,812.08 92%610000 Golf Pro Shop 19,600.62 19,264.00 (336.62) -1.7% 173,847.52 173,277.00 (570.52) 211,697.00 37,849.48 82%630000 Course Maintenance 134,538.53 124,037.00 (10,501.53) -8.5% 1,480,666.11 1,460,803.00 (19,863.11) 1,739,809.00 259,142.89 85%640000 Outside Services 25,348.39 27,530.00 2,181.61 7.9% 209,766.36 242,456.00 32,689.64 291,576.00 81,809.64 72%650000 Clubhouse 16,858.86 16,968.00 109.14 0.6% 152,688.77 163,363.00 10,674.23 197,095.00 44,406.23 77%660000 Marketing 26,253.31 32,956.00 6,702.69 20.3% 282,264.00 290,966.00 8,702.00 248,481.00 (33,783.00) 114%670000 General & Administrative 23,305.35 26,002.00 2,696.65 10.4% 238,828.19 258,820.00 19,991.81 311,576.00 72,747.81 77%680000 Leases 39,433.86 39,325.00 (108.86) -0.3% 388,259.55 393,250.00 4,990.45 471,900.00 83,640.45 82%690000 Miscellaneous Other Expense (2,046.98) 12,795.00 14,841.98 116.0% 152,319.30 212,467.00 60,147.70 263,021.00 110,701.70 58%Total Expenses 283,291.94 298,877.00 15,585.06 5.2% 3,078,639.80 3,195,402.00 116,762.20 3,735,155.00 656,515.20 82%Net Income169,241.09 162,750.00 6,491.09 4.0%(136,665.88) (434,796.42) 298,130.54 (544,369.00) (407,703.12) 25%Rounds of Golf PlayedPaid Rounds Played 5,238 4,876 362 7.4% 34,514 33,474 1,040 39,220 4,706 88%Ave $ Per Paid Round Green Fee 79.93 89.96 (10.02) -11.1% 78.45 77.09 1.35 76.13 (2.32) 103%Ave $ Per Paid Round Merchandise 8.23 8.00 0.23 2.8% 7.61 8.10 (0.48) 7.94 0.33 96%Ave $ Per Paid Miscellaneous 2.49 1.25 1.24 98.6% 2.71 1.65 1.07 1.59 - 0%April 2007SilverRock ResortSummary Operating Income Statement1 Income AprilFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4000000 Revenue-Fees 418,698.83 438,628.00 (19,929.17) 2,707,524.26 2,580,641.00 126,883.26 2,985,870.00278,345.7491%4010000 Rider Fee 900.00 - 900.00 5,568.92 - 5,568.92 0.000.000%4040000 Club Rental 2,915.00 1,463.00 1,452.00 18,360.00 10,042.00 8,318.00 11,766.00-6,594.00156%4050000 Driving Range 6,386.00 3,656.00 2,730.00 41,531.00 25,103.00 16,428.00 29,415.00-12,116.00141%4060000 Handicap Fees 410.00 - 410.00 5,440.00 8,000.00 (2,560.00) 8,000.00 2,560.0068%4080000 GPS Advertising - - - 13,400.00 8,000.00 5,400.00 9,000.00 -4,400.00149%4090000 Ball Retriever/Subcontract 1,193.00 1,000.00 193.00 2,494.95 4,000.00 (1,505.05) 4,000.00 4,000.00 0%4091000 Golf Professional Rental Fee 1,250.00 - 1,250.00 6,900.00 - 6,900.00 - - 0% Total Revenue Fees 431,752.83 444,747.00 (12,994.17) 2,801,219.13 2,635,786.00 165,433.13 3,048,051.00 261,795.74 91%Total Income431,752.83 444,747.00 (12,994.17) 2,801,219.13 2,635,786.00 165,433.13 3,048,051.00 261,795.74 91%Month to Date Year to Date Annual BudgetSilverRock ResortStatement of Fees RevenueApril 20072 Income AprilFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4100000 Sales Miscellaneous 1,504.93 - 1,504.93 15,808.66 - 15,808.66 4100110 Sales Hard Goods 14,253.55 13,650.00 603.55 83,706.96 94,850.00 (11,143.04) 108,937.00 25,230.04 77%4100112 Sales-Soft Goods 31,618.23 25,350.00 6,268.23 183,032.08 176,149.00 6,883.08 202,311.00 19,278.92 90%5100639 GS-Discounts-Mdse (4,293.17) - (4,293.17) (19,856.70) - (19,856.70) (9,353.00) 10,503.70 -212% Total Revenue Golf Shop 43,083.54 39,000.00 4,083.54 262,691.00 270,999.00 (8,308.00) 301,895.00 55,012.66 82%COS 5100150 COS-GS-Hard Goods 7,867.26 7,917.00 (49.74) 48,744.24 55,013.00 (6,268.76) 63,183.46 14,439.22 77%5100151 COS-GS-Soft Goods 14,971.50 14,703.00 268.50 84,429.15 102,166.42 (17,737.27) 107,977.38 23,548.23 78%Cost of Sales - Golf Shop 22,838.76 22,620.00 218.76 133,173.39 157,179.42 (24,006.03) 171,160.84 37,987.45 78%Gross Profit 20,244.78 16,380.00 3,864.78 129,517.61 113,819.58 15,698.03 130,734.16 17,025.21 87%COS % 53.0% 58.0% 5.0% 50.7% 58.0% 7.3% 61.0% 69.1% -13%Expense61-PS-SALARIES & BENEFITS6101175 Employee Meals 360.00 360.00 - 3,271.44 3,300.00 (28.56) 3,960.00 688.56 83%6101320 Insurance Group 3,748.87 3,000.00 748.87 27,763.03 25,320.00 2,443.03 31,320.00 3,556.97 89%6101325 Insurance-Workers Comp 1,097.07 1,230.00 (132.93) 6,889.97 10,972.00 (4,082.03) 13,313.00 6,423.03 52%6101720 Salaries 2,586.00 3,333.00 (747.00) 37,967.88 33,330.00 4,637.88 39,992.00 2,024.12 95%6101800 Taxes-Employer Payroll 1,278.54 1,531.00 (252.46) 11,764.56 13,659.00 (1,894.44) 16,575.00 4,810.44 71%6101880 Wages-Hourly 8,304.55 8,965.00 (660.45) 65,718.49 76,386.00 (10,667.51) 93,138.00 27,419.51 71%6101882 Wages-Overtime 80.10 - 80.10 1,332.36 - 1,332.36 - 952.88 0%Total -PS-SALARIES & BENEFITS 17,455.13 18,419.00 (963.87) 154,707.73 162,967.00 (8,259.27) 198,298.00 45,875.51 77%61-PS-SUPPLIES & MATERIALS6103742 Supplies-Expendable - - - 1,029.90 - 1,029.90 - (1,029.90) 0%Total PS-SUPPLIES & MATERIALS - - - 1,029.90 - 1,029.90 - (1,029.90) 0%61-PS OTHER EXPENSES6103762 Supplies-Office 371.18 45.00 326.18 2,389.46 1,435.00 954.46 1,525.00 (864.46) 157%6109090 Contract Services 500.00 500.00 - 4,000.00 5,000.00 (1,000.00) 6,000.00 2,000.00 67%6109197 Equipment Rental - - - 1,593.00 - 1,593.00 - (1,593.00) 0%6109220 Freight & Delivery 150.91 - 150.91 1,227.41 75.00 1,152.41 75.00 (1,152.41) 1637%6109490 Miscellaneous 181.56 50.00 131.56 1,353.15 350.00 1,003.15 450.00 (903.15) 301%6109150 Dues and Subscriptions 830.00 - 830.00 986.93 - 986.93 1,500.00 513.07 66%6109500 ProShop-Over/Short 14.40 - 14.40 104.05 - 104.05 - (104.05) 0%6109722 Seminars/Training - 35.00 (35.00) 3,510.00 1,890.00 1,620.00 1,960.00 (1,550.00) 179%6109810 Travel - Merchandise - 15.00 (15.00) 44.62 60.00 (15.38) 90.00 45.38 50%6109820 Uniforms - 200.00 (200.00) 1,968.71 1,500.00 468.71 1,800.00 (168.71) 109%6117840 Telephones 97.44 - 97.44 932.56 - 932.56 - (932.56) 0%6119206 License and Permits - - - - - - - - 0%Total PS-OTHER EXPENSES 2,145.49 845.00 1,300.49 18,109.89 10,310.00 7,799.89 13,400.00 (4,709.89) 135%Total Expenses 19,600.62 19,264.00 336.62 173,847.52 173,277.00 570.52 211,698.00 41,165.62 81%Net Income644.16 (2,884.00) 3,528.16 (44,329.91) (59,457.42) 15,127.51 (80,963.84) (24,140.41) -70%Month to Date Year to Date Annual BudgetSilverRock ResortGolf Shop Income StatementApril 20073 AprilFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense63-CM-SALARIES & BENEFITS6311175 Employee Meals 240.00 240.00 - 2,400.00 2,400.00 - 2,880.00 480.00 16.7%6311320 Insurance-Group 10,866.69 5,880.00 4,986.69 112,746.28 58,800.00 53,946.28 70,560.00 (42,186.28) -59.8%6311325 Insurance-Workers Comp 5,544.77 5,691.00 (146.23) 44,916.18 59,106.00 (14,189.82) 70,971.00 26,054.82 36.7%6311720 Salaries 10,692.32 11,750.00 (1,057.68) 112,269.36 117,484.00 (5,214.64) 141,000.00 28,730.64 20.4%6311800 Taxes-Employer Payroll 5,968.51 7,085.00 (1,116.49) 58,128.25 74,121.00 (15,992.75) 89,006.00 30,877.75 34.7%6311880 Wages-Hourly 44,166.30 45,156.00 (989.70) 466,148.13 464,976.00 1,172.13 558,230.00 92,081.87 16.5%6311882 Wages-Overtime 589.02 - 589.02 29,561.63 12,859.00 16,702.63 15,679.00 (13,882.63) -88.5%Total-CM-SALARIES & BENEFITS78,067.61 75,802.00 2,265.61 826,169.83 789,746.00 36,423.83 948,326.00 122,156.17 12.9%63-CM-SUPPLIES & MATERIALS6313734 Chemicals 5,560.05 - 5,560.05 26,626.59 - 26,626.59 (26,626.59) 0.0%6313744 Fertilizer 5,082.52 3,850.00 1,232.52 74,465.47 45,950.00 28,515.47 54,650.00 (19,815.47) -36.3%6313746 Flowers/Plants - 100.00 (100.00) - 3,500.00 (3,500.00) 3,500.00 3,500.00 100.0%6313748 Fuel-Gasoline 3,562.10 3,800.00 (237.90) 36,469.88 35,900.00 569.88 40,900.00 4,430.12 10.8%6313750 Golf Course Accessories 30.63 100.00 (69.37) 9,096.12 4,000.00 5,096.12 4,200.00 (4,896.12) -116.6%6313756 POA Control - - - 1,093.36 6,000.00 (4,906.64) 6,000.00 4,906.64 81.8%6313758 Miscellaneous Supp 2,759.17 100.00 2,659.17 4,617.91 1,000.00 3,617.91 1,200.00 (3,417.91) -284.8%6313766 Pesticides 8.00 200.00 (192.00) 12,969.87 13,600.00 (630.13) 14,900.00 1,930.13 13.0%6313762 Supplies-Office - - - 1,434.48 - 1,434.48 - (1,434.48) 0.0%6313774 Sand 2,172.37 100.00 2,072.37 7,839.24 6,460.00 1,379.24 16,660.00 8,820.76 52.9%6313775 Sand-Bunkers 4,688.15 - 4,688.15 8,240.39 10,000.00 (1,759.61) 10,000.00 1,759.61 17.6%6313776 Seed - 350.00 (350.00) 104,076.29 84,050.00 20,026.29 84,750.00 (19,326.29) -22.8%6313778 Small Tools & Non-Capital Equip - 100.00 (100.00) 2,904.51 6,300.00 (3,395.49) 6,500.00 3,595.49 55.3%6313780 Sod - - - 3,874.82 4,250.00 (375.18) 5,750.00 1,875.18 32.6%6313782 Topdressing - - - 2,776.92 1,300.00 1,476.92 3,900.00 1,123.08 28.8%Total-CM-SUPPLIES & MATERIALS23,862.99 8,700.00 15,162.99 296,485.85 222,310.00 74,175.85 252,910.00 (43,575.85) -17.2%63-CM-REPAIRS & MAINTENANCE6315095 CM-R&M-Contract Lake Maint - 1,500.00 (1,500.00) 6,806.22 11,000.00 (4,193.78) 14,000.00 7,193.78 51.4%6315685 CM-R&M-Bldngs & Othr Structures 431.78 - 431.78 1,429.71 500.00 929.71 500.00 (929.71) -185.9%6315686 CM-R&M- Drainage - - - 5,083.39 - 5,083.39 - (5,083.39) 0.0%6315690 CM-R&M-Equipment 3,460.24 700.00 2,760.24 37,519.97 13,000.00 24,519.97 14,400.00 (23,119.97) -160.6%6315692 CM-R&M-Irrigation System 1,020.14 550.00 470.14 14,667.90 7,350.00 7,317.90 8,450.00 (6,217.90) -73.6%6315696 CM-R&M-Pumps 1,899.83 - 1,899.83 6,904.82 4,000.00 2,904.82 5,000.00 (1,904.82) -38.1%6315815 CM-R&M-Trees-Pruning Etc - - - 3,826.20 4,000.00 (173.80) 4,000.00 173.80 4.3%Total-CM-REPAIRS & MAINTENANCE 6,811.99 2,750.00 4,061.99 76,238.21 39,850.00 36,388.21 46,350.00 (29,888.21) -64.5%63-CM-UTILTIES6317830 Utilities-Electricity-Bldngs - 1,526.00 (1,526.00) 17,885.16 17,545.00 340.16 22,080.00 4,194.84 19.0%6317836 Utilities-Natural Gas/LPG - - - 257.02 - 257.02 - (257.02) 0.0%6317840 Telephones 794.64 350.00 444.64 8,204.17 3,500.00 4,704.17 4,200.00 (4,004.17) -95.3%Total-CM-UTILITIES 794.64 1,876.00 (1,081.36) 26,346.35 21,045.00 5,301.35 26,280.00 (66.35) -0.3%63-CM-OTHER EXPENSES6319020 Auto Mileage/Allowance 500.00 500.00 - 5,000.00 5,000.00 - 6,000.00 1,000.00 16.7%6319099 Contract Svcs-Security - - - 280.00 - 280.00 - (280.00) 0.0%6319100 Contract Svcs-Soil/Tissue Test - - - 38.76 2,000.00 (1,961.24) 4,000.00 3,961.24 99.0%6319101 Contract Svcs-Trash Removal 2,168.23 400.00 1,768.23 14,489.87 4,000.00 10,489.87 18,800.00 4,310.13 22.9%6319102 Greens-Waste Removal 355.70 300.00 55.70 10,714.52 13,400.00 (2,685.48) 14,000.00 3,285.48 23.5%6319150 Dues & Subscriptions 18.00 200.00 (182.00) 18.00 800.00 (782.00) 900.00 882.00 98.0%6319170 Employee Education - 50.00 (50.00) 250.00 500.00 (250.00) 600.00 350.00 58.3%6319197 Equipment Rental - 200.00 (200.00) 1,364.15 3,900.00 (2,535.85) 4,200.00 2,835.85 67.5%6319206 Licenses & Permits 1,547.00 150.00 1,397.00 2,513.01 1,800.00 713.01 1,800.00 (713.01) -39.6%6319490 Miscellaneous 190.50 100.00 90.50 1,945.61 1,000.00 945.61 1,200.00 (745.61) -62.1%6319500 Propane/Natural Gas - 150.00 (150.00) - 1,500.00 (1,500.00) 1,800.00 1,800.00 100.0%6319718 Safety Equipment & Training 3,500.00 100.00 3,400.00 6,125.42 3,200.00 2,925.42 3,400.00 (2,725.42) -80.2%6319822 Uniforms 522.92 720.00 (197.08) 6,610.45 7,950.00 (1,339.55) 9,390.00 2,779.55 29.6%Total-CM-OTHER EXPENSES 8,802.35 2,870.00 5,932.35 49,349.79 45,050.00 4,299.79 66,090.00 16,740.21 25.3%Month to Date Year to DateSilverRock ResortCourse Maintenance Expense StatementApril 2007Annual Budget4 AprilFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget632-CM-LANDSCAPE MAINTENANCE632-CM-LM-SALARIES & BENEFITS6321320 Insurance-Group 1,104.00 1,104.00 - 11,992.63 11,040.00 952.63 13,248.00 1,255.37 0.0%6321325 Insurance-Workers Comp 684.72 1,314.00 (629.28) 6,713.66 13,505.00 (6,791.34) 16,194.00 9,480.34 58.5%6321800 Taxes-Employer Payroll 810.37 1,636.00 (825.63) 9,419.46 17,039.00 (7,619.54) 20,426.00 11,006.54 53.9%6321880 Wages-Hourly 6,819.00 13,141.00 (6,322.00) 92,249.84 131,410.00 (39,160.16) 157,692.00 65,442.16 41.5%6321882 Wages-Overtime 28.13 - 28.13 5,061.26 5,460.00 (398.74) 6,370.00 1,308.74 20.5%Total-CM-LM-SALARIES & BENEFITS9,446.22 17,195.00 (7,748.78) 125,436.85 178,454.00 (53,017.15) 213,930.00 87,237.78 40.8%632-CM-LM-SUPPLIES & MATERIALS6323778 Small Tools - 75.00 (75.00) 5,258.12 875.00 4,383.12 1,025.00 (4,233.12) -413.0%6323788 Uniforms 823.48 240.00 583.48 3,320.91 2,400.00 920.91 2,880.00 (440.91) -15.3%Total-CM-LM-SUPPLIES & MATERIALS823.48 315.00 508.48 8,579.03 3,275.00 5,304.03 3,905.00 (4,674.03) -119.7%632-CM-LM-REPAIRS & MAINTENANCE6325687 CM-LM-R&M-Drip Irrigation - 250.00 (250.00) 3,646.62 3,500.00 146.62 4,250.00 603.38 14.2%Total-CM-LM-REPAIRS & MAINTENANCE - 250.00 (250.00) 3,646.62 3,500.00 146.62 4,250.00 603.38 14.2%632-CM-WATER & ENERGY6337834 Utilities-Electricity-Pumping 5,286.47 12,775.00 (7,488.53) 56,994.20 142,920.00 (85,925.80) 183,642.00 126,647.80 69.0%6337842 Utilities-Water642.78 1,504.00 (861.22) 11,419.38 14,653.00 (3,233.62) 18,126.00 6,706.62 37.0%Total-CM-WATER & ENERGY5,929.25 14,279.00 (8,349.75) 68,413.58 157,573.00 (89,159.42) 201,768.00 133,354.42 66.1%134,538.53 124,037.00 10,501.53 1,480,666.11 1,460,803.00 19,863.11 1,763,809.00 281,887.52 16.0%Total -COURSE MAINTENANCEMonth to Date Year to DateSilverrock ResortCourse Maintenance Expense StatementApril 2007Annual Budget5 AprilFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense641-CBR-SALARIES & BENEFITS6411175 Employee Meals 600.00 600.00 - 5,100.00 5,220.00 (120.00) 6,240.00 1,140.00 18.3%6411320 Insurance-Group 61.77 720.00 (658.23) 5,234.57 7,200.00 (1,965.43) 8,640.00 3,405.43 39.4%6411325 Insurance-Workers Comp 1,012.54 1,741.00 (728.46) 5,650.45 13,906.00 (8,255.55) 16,944.00 11,293.55 66.7%6411800 Taxes-Employer Payroll 1,328.81 1,510.00 (181.19) 10,026.69 12,059.00 (2,032.31) 14,690.00 4,663.31 31.7%6411880 Wages-Hourly 10,003.56 12,127.00 (2,123.44) 81,086.12 96,858.00 (15,771.88) 117,992.00 36,905.88 31.3%6411882 Wages-Overtime 121.78 - 121.78 1,417.10 - 1,417.10 - (1,417.10) 0.0%Total-CBR-SALARIES & BENEFITS13,128.46 16,698.00 (3,569.54) 108,514.93 135,243.00 (26,728.07) 164,506.00 55,991.07 34.0%641-CBR-SUPPLIES & MATERIALS6413732 Supplies-Carts - 50.00 (50.00) 1,051.31 2,250.00 (1,198.69) 2,350.00 1,298.69 55.3%6413742 Supplies-Expendable 1,741.31 150.00 1,591.31 6,816.98 6,550.00 266.98 7,550.00 733.02 9.7%6413752 Supplies-Range Balls - - - 5,250.00 6,000.00 (750.00) 6,000.00 750.00 12.5%6413762 Supplies-Office - 50.00 (50.00) 1,017.37 425.00 592.37 525.00 (492.37) -93.8%6413768 Supplies-Printing and Stationary - 70.00 (70.00) 95.60 280.00 (184.40) 420.00 324.40 77.2%6413786 Supplies-Towels 595.08 72.00 523.08 6,410.54 2,148.00 4,262.54 2,292.00 (4,118.54) -179.7%6413796 Supplies-Bottled Water1,142.32 2,509.00 (1,366.68) 19,080.65 18,093.00 987.65 22,631.00 3,550.35 15.7%Total-CBR-SUPPLIES & MATERIALS3,478.71 2,901.00 577.71 39,722.45 35,746.00 3,976.45 41,768.00 2,045.55 4.9%641-CBR-REPAIRS & MAINTENANCE6415096 CBR-R&M-Contract Services-Carts 720.00 720.00 - 6,480.00 7,200.00 (720.00) 8,640.00 2,160.00 25.0%6415690 CBR-R&M-Equipment 639.70 125.00 514.70 5,988.15 1,250.00 4,738.15 1,500.00 (4,488.15) -299.2%6415695 CBR-R&M-Cart Maintenance & Repair - 250.00 (250.00) 2,845.82 2,500.00 345.82 3,000.00 154.18 5.1%Total-CBR-REPAIRS & MAINTENANCE 1,359.70 1,095.00 264.70 15,313.97 10,950.00 4,363.97 13,140.00 (2,173.97) -16.5%641-CBR-OTHER EXPENSES6419093 Contract Services-Handicaps 160.00 250.00 (90.00) 2,683.00 4,600.00 (1,917.00) 5,000.00 2,317.00 46.3%6419094 Contract Services-Laundry/Linen - 150.00 (150.00) 166.75 1,540.00 (1,373.25) 1,690.00 1,523.25 90.1%6419220 Freight/Delivery - 75.00 (75.00) 122.17 750.00 (627.83) 900.00 777.83 86.4%6419490 Miscellaneous 221.05 125.00 96.05 221.05 900.00 (678.95) 1,150.00 928.95 80.8%6419820 Uniforms - - - 2,876.36 3,425.00 (548.64) 4,625.00 1,748.64 37.8%Total-CBR-OTHER EXPENSES 381.05 600.00 (218.95) 6,069.33 11,215.00 (5,145.67) 13,365.00 7,295.67 54.6%TOTAL-CARTS,BAGROOM & RANGE 18,347.92 21,294.00 (2,946.08) 169,620.68 193,154.00 (23,533.32) 232,779.00 63,158.32 27.1%643-CS-SALARIES & BENEFITS6431175 Employee Meals 300.00 300.00 - 2,580.00 2,640.00 (60.00) 3,120.00 540.00 17.3%6431320 Insurance-Group - - - - - - - - 0.0%6431325 Insurance-Workers Comp 537.95 440.00 97.95 2,508.40 3,559.00 (1,050.60) 4,261.00 1,752.60 41.1%6431800 Taxes-Employer Payroll 685.93 548.00 137.93 3,396.39 4,431.00 (1,034.61) 5,305.00 1,908.61 36.0%6431880 Wages-Hourly 5,306.30 4,398.00 908.30 27,504.33 35,572.00 (8,067.67) 42,611.00 15,106.67 35.5%6431882 Wages-Overtime 73.17 - 73.17 316.93 - 316.93 - (316.93) 0.0%Total-CS-SALARIES & BENEFITS6,903.35 5,686.00 1,217.35 36,306.05 46,202.00 (9,895.95) 55,297.00 18,990.95 34.3%643-CS-OTHER EXPENSES6433742 Supplies Expendable 97.12 100.00 (2.88) 2,496.41 900.00 1,596.41 1,050.00 (1,446.41) -137.8%6439490 Miscellaneous - - - - 200.00 (200.00) 200.00 200.00 100.0%6439718 Safety Equipment & Training - 50.00 (50.00) - 500.00 (500.00) 600.00 600.00 100.0%6439820 Uniforms - 400.00 (400.00) 1,343.22 1,500.00 (156.78) 1,650.00 306.78 18.6%Total-CS-OTHER EXPENSES 97.12 550.00 (452.88) 3,839.63 3,100.00 739.63 3,500.00 (339.63) -9.7%Total-COURSE SERVICES 7,000.47 6,236.00 764.47 40,145.68 49,302.00 (9,156.32) 58,797.00 18,651.32 31.7%TOTAL OUTSIDE SERVICES25,348.39 27,530.00 (2,181.61) 209,766.36 242,456.00 (32,689.64) 291,576.00 82,149.27 28.2%Month to Date Year to DateSilverRock ResortOutside Services Expense StatementApril 2007Annual Budget6 AprilFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense65-CH-SUPPLIES & MATERIALS6503742 Supplies-Expendable335.67 400.00 (64.33) 4,803.61 4,000.00 803.61 4,800.00 (3.61) -0.1%Total-CH-SUPPLIES & MATERIALS 335.67 400.00 (64.33) 4,803.61 4,000.00 803.61 4,800.00 (3.61) -0.1%65-CH-UTILITIES6507830 Utilities-Electric-Bldgs- 4,226.00 (4,226.00) 7,375.00 34,543.00 (27,168.00) 42,795.00 35,420.00 82.8%6507836 Utilities-Natural Gas1,083.04 200.00 883.04 4,379.44 2,000.00 2,379.44 2,400.00 (1,979.44) -82.5%6507838 Utilities-Sewer- 200.00 (200.00) - 2,000.00 (2,000.00) 2,400.00 2,400.00 100.0%6507840 Utilities-Telephone859.34 675.00 184.34 11,416.26 6,750.00 4,666.26 8,100.00 (3,316.26) -40.9%6507842 Utilities-Water121.24 200.00 (78.76) 1,487.10 2,000.00 (512.90) 2,400.00 912.90 38.0%6507844 Utilities-Cable- 317.00 (317.00) 2,796.94 3,170.00 (373.06) 3,800.00 1,003.06 0.0%Total-CH-UTILITIES 2,063.62 5,818.00 (3,754.38) 27,454.74 50,463.00 (23,008.26) 61,895.00 34,440.26 55.6%65-CH-OTHER EXPENSES6509091 Contract Services-Cleaning75.00 1,750.00 (1,675.00) 17,142.50 17,500.00 (357.50) 21,000.00 3,857.50 18.4%6509098 Contract Services-Refuse Dispose629.59 400.00 229.59 5,337.06 4,000.00 1,337.06 4,800.00 (537.06) -11.2%6509099 Contract Services-Security13,360.12 7,800.00 5,560.12 88,110.00 78,000.00 10,110.00 93,600.00 5,490.00 5.9%6509215 Flowers & Decorations110.94 100.00 10.94 627.81 2,400.00 (1,772.19) 2,600.00 1,972.19 75.9%6509490 Miscellaneous- - - 538.67 - 538.67 - (538.67) 0.0%6509718 Safety Equipment & Training- 100.00 (100.00) - 1,000.00 (1,000.00) 1,200.00 1,200.00 100.0%Total-CH-OTHER EXPENSES 14,175.65 10,150.00 4,025.65 111,756.04 102,900.00 8,856.04 123,200.00 11,443.96 9.3%65-CH-REPAIRS & MAINTENANCE6515685 CH-R&M-Building Structures283.92 200.00 83.92 3,128.92 2,000.00 1,128.92 2,400.00 (728.92) -30.4%6515686 CH-R&M-Restaurant Repairs- 200.00 (200.00) 280.18 2,000.00 (1,719.82) 2,400.00 2,119.82 88.3%6515690 CH-R&M-Equipment Repair- 200.00 (200.00) 5,265.28 2,000.00 3,265.28 2,400.00 (2,865.28) -119.4%Total-CH-REPAIRS & MAINTENANCE 283.92 600.00 (316.08) 8,674.38 6,000.00 2,674.38 7,200.00 (1,474.38) -20.5%Total CLUBHOUSE16,858.86 16,968.00 (109.14) 152,688.77 163,363.00 (10,674.23) 197,095.00 (2,948.76) -1.5%Month to Date Year to DateSilverRock ResortClubhouse Expense StatementApril 2007Annual Budget7 AprilFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense66-MKT-SALARIES & BENEFITS6601175 Employee Meals - 60.00 (60.00) 240.00 600.00 (360.00) 720.00 480.00 66.7%6601320 Insurance-Group - 150.00 (150.00) 306.21 1,500.00 (1,193.79) 1,800.00 1,493.79 83.0%6601325 Insurance-Workers Comp 256.79 317.00 (60.21) 1,790.99 3,170.00 (1,379.01) 3,800.00 2,009.01 52.9%6601720 Salaries 2,567.90 3,167.00 (599.10) 21,523.71 31,670.00 (10,146.29) 38,004.00 16,480.29 43.4%6601800 Taxes-Employer Payroll 158.03 394.00 (235.97) 1,630.00 3,940.00 (2,310.00) 4,731.00 3,101.00 65.5%Total-MKT-SALARIES & BENEFITS 2,982.72 4,088.00 (1,105.28) 25,490.91 40,880.00 (15,389.09) 49,055.00 23,564.09 48.0%66-MKT-SUPPLIES & MATERIALS6603080 Collateral Material - 500.00 (500.00) 3,496.15 7,500.00 (4,003.85) - (3,496.15) 0.0%6603762 Supplies-Office - 100.00 (100.00) 477.95 1,000.00 (522.05) 1,200.00 722.05 60.2%6603768 Supplies-Printing & Stationery 328.52 125.00 203.52 593.01 4,175.00 (3,581.99) 4,425.00 3,831.99 86.6%328.52 725.00 (396.48) 4,567.11 12,675.00 (8,107.89) 5,625.00 1,057.89 18.8%66-MKT-UTILITIES6607840 Utilities-Telephone 65.43 100.00 (34.57) 804.41 1,000.00 (195.59) 1,200.00 395.59 33.0%Total-MKT-UTILITIES 65.43 100.00 (34.57) 804.41 1,000.00 (195.59) 1,200.00 395.59 33.0%66-MKT-OTHER EXPENSES6609010 Advertising 22,350.64 27,568.00 (5,217.36) 244,664.92 228,901.00 15,763.92 175,290.00 (69,374.92) -39.6%6609040 Business Meals - 25.00 (25.00) 174.25 250.00 (75.75) 300.00 125.75 41.9%6609080 Collateral Material - - - 2,922.21 - 2,922.21 9,000.00 6,077.79 67.5%6609102 Contract Services-Web Page 99.00 175.00 (76.00) 891.00 1,750.00 (859.00) 2,100.00 1,209.00 57.6%6609490 Miscellaneous - 50.00 (50.00) 303.28 300.00 3.28 350.00 46.72 13.3%6609620 Postage - 50.00 (50.00) 362.22 500.00 (137.78) 600.00 237.78 39.6%6609630 Promotion - 50.00 (50.00) 503.44 600.00 (96.56) - (503.44) 0.0%6609633 Promotion-Community - 75.00 (75.00) 128.31 2,775.00 (2,646.69) 2,925.00 2,796.69 95.6%6609634 Promotion-Media/Vender - - - - - - 700.00 - 0.0%6609150 Dues and Subscriptions 427.00 - 427.00 1,122.00 735.00 387.00 735.00 (387.00) 0.0%6609820 Uniforms - 50.00 (50.00) 329.94 600.00 (270.06) 600.00 270.06 45.0%Total-MKT-OTHER EXPENSES 22,876.64 28,043.00 (5,166.36) 251,401.57 236,411.00 14,990.57 192,600.00 (59,501.57) -30.9%Total-MARKETING26,253.31 32,956.00 (6,702.69) 282,264.00 290,966.00 (8,702.00) 248,480.00 (34,484.00) -13.9%Month to Date Year to DateSilverRock ResortMarketing Expense StatementApril 2007Annual Budget8 AprilFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense67-G&A-SALARIES & BENEFITS6701175 Employee Meals 180.00 180.00 - 1,800.00 1,800.00 - 2,160.00 360.00 16.7%6701320 Insurance-Group1,696.92 2,280.00 (583.08) 16,475.83 22,800.00 (6,324.17) 27,360.00 10,884.17 39.8%6701325 Insurance-Workers Comp1,491.45 1,598.00 (106.55) 12,279.27 15,980.00 (3,700.73) 19,176.00 6,896.73 36.0%6701720 Salaries 12,434.40 13,250.00 (815.60) 131,834.90 132,500.00 (665.10) 159,000.00 27,165.10 17.1%6701800 Taxes-Employer Payroll 1,141.87 1,989.00 (847.13) 12,695.13 19,890.00 (7,194.87) 23,874.00 11,178.87 46.8%6701880 Wages-Hourly2,480.08 2,730.00 (249.92) 28,036.54 27,300.00 736.54 32,756.00 4,719.46 14.4%6701882 Wages-Overtime - - - 418.50 - 418.50 - (418.50) 0.0%Total-G&A-SALARIES & BENEFITS 19,424.72 22,027.00 (2,602.28) 203,540.17 220,270.00 (16,729.83) 264,326.00 60,785.83 23.0%67-G&A-SUPPLIES & MATERIALS6703740 Supplies-Computer935.00 500.00 435.00 3,032.28 5,000.00 (1,967.72) 6,000.00 2,967.72 49.5%6703762 Supplies-Office 44.03 125.00 (80.97) 1,458.52 1,250.00 208.52 1,500.00 41.48 2.8%6703768 Supplies-Printing & Stationery- 400.00 (400.00) 1,377.27 2,400.00 (1,022.73) 3,200.00 1,822.73 57.0%6703778Supplies-Small Tools/Non-Capital - 100.00 (100.00) - 800.00 (800.00) 900.00 900.00 100.0%Total-G&A-SUPPLIES & MATERIALS 979.03 1,125.00 (145.97) 5,868.07 9,450.00 (3,581.93) 11,600.00 5,731.93 49.4%67-G&A-REPAIRS & MAINTENANCE6705690 Repairs & Maintenance-Equipment- 100.00 (100.00) 1,742.50 1,000.00 742.50 1,200.00 (542.50) -45.2%Total-G&A-REPAIRS & MAINTENANCE - 100.00 (100.00) 1,742.50 1,000.00 742.50 1,200.00 (542.50) -45.2%67-G&A-OTHER EXPENSES6709020 Auto/Mileage Allowance400.00 400.00 - 4,000.00 4,000.00 - 4,800.00 800.00 16.7%6709090 Contract Services- - - 75.00 - 75.00 - - 0.0%6709150 Dues & Subscriptions601.00 50.00 551.00 601.00 950.00 (349.00) 1,500.00 899.00 59.9%6709180 Employee Recruiting/Relocation50.00 - 50.00 4,865.00 2,000.00 2,865.00 2,000.00 (2,865.00) -143.3%6709197 Equipment Rental281.02 350.00 (68.98) 3,444.68 3,500.00 (55.32) 4,200.00 755.32 18.0%6709202 Fees-Bank423.37 300.00 123.37 1,505.66 3,000.00 (1,494.34) 3,600.00 2,094.34 58.2%6709208 Fees-Payroll Processing866.26 550.00 316.26 6,343.53 5,500.00 843.53 6,600.00 256.47 0.0%6709220 Freight/Delivery- 50.00 (50.00) 734.42 500.00 234.42 600.00 (134.42) -22.4%6709490 Miscellaneous - 100.00 (100.00) 519.11 1,000.00 (480.89) 1,200.00 680.89 56.7%6709620 Postage/Mail Services 279.95 75.00 204.95 903.49 750.00 153.49 900.00 (3.49) -0.4%6709625 Professional Fees- 400.00 (400.00) 3,305.00 4,000.00 (695.00) 4,800.00 1,495.00 31.1%6709636 Promotion/Entertainment- 100.00 (100.00) - 1,000.00 (1,000.00) 1,200.00 1,200.00 100.0%6709722 Seminars & Training- 100.00 (100.00) 925.00 600.00 325.00 900.00 (25.00) -2.8%6709810 Travel - 200.00 (200.00) 120.99 400.00 (279.01) 1,100.00 979.01 89.0%6709820 Uniforms - 75.00 (75.00) 334.57 900.00 (565.43) 1,050.00 715.43 68.1%Total-G&A-OTHER EXPENSES 2,901.60 2,750.00 151.60 27,677.45 28,100.00 (422.55) 34,450.00 6,847.55 19.9%Total-GENERAL & ADMINISTRATIVE23,305.35 26,002.00 (2,696.65) 238,828.19 258,820.00 (19,991.81) 311,576.00 72,822.81 23.4%Month to Date Year to DateSilverRock ResortGeneral & Administrative Expense StatementApril 2007Annual Budget9 AprilFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense68-LEASES6800192 Equipment Leases-Carts 7,145.39 9,800.00 (2,654.61) 82,654.97 98,000.00 (15,345.03) 117,600.00 34,945.03 29.7%6800193 Equipment Leases-Course Maint 15,946.70 20,000.00 (4,053.30) 188,532.75 200,000.00 (11,467.25) 240,000.00 51,467.25 21.4%6800194 Equipment Leases-Trailer 943.57 600.00 343.57 7,665.66 6,000.00 1,665.66 7,200.00 (465.66) -6.5%6800195 Equipment Leases-Software 1,900.22 1,525.00 375.22 14,580.95 15,250.00 (669.05) 18,300.00 3,719.05 20.3%6800196 Equipment Leases-GPS 6,840.14 7,400.00 (559.86) 68,111.62 74,000.00 (5,888.38) 88,800.00 20,688.38 23.3%6800198 Equipment Leases-Others 6,657.84 - 6,657.84 26,713.60 - 26,713.60 - - 0.0%Total-LEASES39,433.86 39,325.00 108.86 388,259.55 393,250.00 (4,990.45) 471,900.00 110,354.05 23.4%69-MISC OTHER EXPENSES6900096 Contract Srvcs-Management Fee (10,633.49) (1,090.00) (9,543.49) 49,482.60 92,092.00 (42,609.40) 125,196.00 75,713.40 60.5%6900210 FF&E Reserve 8,586.51 9,685.00 (1,098.49) 55,310.28 58,375.00 (3,064.72) 67,426.00 12,115.72 18.0%6900800 Personal Property Taxes - - - 3,003.02 20,000.00 (16,996.98) 20,000.00 16,996.98 85.0%6900323 Insurance-Commercial - 4,200.00 (4,200.00) 44,523.40 42,000.00 2,523.40 50,400.00 5,876.60 11.7%Total-MISC OTHER EXPENSES(2,046.98) 12,795.00 (14,841.98) 152,319.30 212,467.00 (60,147.70) 263,022.00 110,702.70 42.1% Operating Leases & Miscellaneous Other Expense StatementApril 2007Annual BudgetMonth to Date Year to Date10 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report‐2006‐20072006 2006 2006 2006 2006 2006Comp CategoryJulyAugustSeptemberOctoberNovemberDecemberMedia6158 01815Sales727842Promotion423000Golf Industry20 21 15 9 17 26VIP600004Celebrity000000PGA Comp27 28 60 2 16 18Charity/Gift Certificate624370 029Rain/Wind Checks0000287Club Staff20 17 44 2 22 50LQ HS Golf00030096 109 174 24 105 1512007 2007 2007 2007 2007 2007Comp CategoryJanuaryFebruaryMarchAprilMayJuneMedia31 12823Sales0004Promotion3000Golf Industry842418VIP0000Celebrity0022PGA Comp43 163640Charity/Gift Certificate68810Rain/Wind Checks983638Club Staff89 402888LQ HS Golf0 36 108 116189 124 250 339 0 011 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report‐2006‐2007May 2007Date Time Description CategoryPlayers4/2/2007 1:15 Charles Briscoe Knight-Brithis writerMedia 24/6/2007 11:37 Dan Ball - CBS 2 Media 44/9/2007 7:00 Wayne Karchman-Director of Golf Sales-I.W. Resort Sales 44/10/2007 7:15 Gary Stone - "Da Coach" Media 24/11/2007 7:45 Ron Hyde - Ron Hyde Productions/Photographer Media 24/12/2007 8:30 John White-KESQ-On Air Anchor Media 44/13/2007 9:22 George Gamble - Golf Digest Media 14/18/2007 8:45 Lorretta Matta - Author Media 24/19/2007 7:30 John Callahan-Actor/Celebrity Celebrity 24/22/2007 7:30 John Betencourt - KESQ Media 44/28/2007 10:30 Peter Yoon - writer LA Times Media 212