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06 December 2007 SilverRock Resort - Monthly Financial Statement Monthly Financial Statements July 2007 – December 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 Annual BudgetAccount Description DecemberFinal Budget Variance Percentages Unfavorable (-) Favorable (+) Final Budget Variance Annual Budget Unemcumb. % Bdgt Income400000 Golf Green Fee Revenue 268,060.10 278,730.00 (10,669.90) -3.8% 1,007,183.60 983,955.00 23,228.60 3,161,211.00 2,154,027.40 32%401000 Miscellaneous Golf Revenue 14,322.50 10,500.00 3,822.50 36.4% 49,426.80 39,688.00 9,738.80 83,725.00 34,298.20 59%410000 Revenue-Golf Shop 29,430.48 30,600.00 (1,169.52) -3.8% 114,497.94 120,751.00 (6,253.06) 327,370.00 212,872.06 35%420000 Revenue-F&B Concession 1,500.00 1,500.00 - 0.0% 6,000.00 6,000.00 - 12,000.00 6,000.00 50%890000 Interest Income 13.31 - 13.31 0.0% 150.92 - 150.92 - (150.92) 0%Total Income313,326.39 321,330.00 (8,003.61) -2.5% 1,177,259.26 1,150,394.00 26,865.26 3,584,306.00 2,407,046.74 33%Cost of Goods Sold510000 COS-Golf Shop 16,430.61 16,240.00 190.61 -1.2% 62,188.21 64,088.05 1,899.84 173,752.00 111,563.79 36%Total COS16,430.61 16,240.00 190.61 -1.2% 62,188.21 64,088.05 1,899.84 173,752.00 111,563.79 36%Gross Profit296,895.78 305,090.00 (8,194.22) -2.7% 1,115,071.05 1,086,305.95 28,765.10 3,410,554.00 2,295,482.95 33%Expenses610000 Golf Pro Shop 25,201.55 23,070.00 (2,131.55) -9.2% 120,963.15 115,915.00 (5,048.15) 256,699.00 135,735.85 47%630000 Course Maintenance 141,553.46 137,871.00 (3,682.46) -2.7% 1,002,830.81 994,445.00 (8,385.81) 1,796,367.00 793,536.19 56%640000 Outside Services 23,440.74 26,996.00 3,555.26 13.2% 131,389.05 131,633.00 243.95 297,353.00 165,963.95 44%650000 Clubhouse 13,953.95 14,242.00 288.05 2.0% 88,939.73 86,052.00 (2,887.73) 172,900.00 83,960.27 51%660000 Marketing 20,772.19 26,552.00 5,779.81 21.8% 119,679.15 113,137.00 (6,542.15) 252,469.00 132,789.85 47%670000 General & Administrative 24,962.57 27,471.00 2,508.43 9.1% 143,594.07 161,126.00 17,531.93 321,596.00 178,001.93 45%680000 Leases 41,139.79 39,325.00 (1,814.79) -4.6% 237,632.61 235,950.00 (1,682.61) 471,900.00 234,267.39 50%690000 Miscellaneous Other Expense 14,803.45 19,622.00 4,818.55 24.6% 133,048.22 153,707.00 20,658.78 253,363.00 120,314.78 53%Total Expenses305,827.70 315,149.00 9,321.30 3.0% 1,978,076.79 1,991,965.00 13,888.21 3,822,647.00 1,844,570.21 52%Net Income (8,931.92) (10,059.00) 1,127.08 11.2%(863,005.74) (905,659.05) 42,653.31 (412,093.00) 450,912.74 209%Rounds of Golf PlayedPaid Rounds Played 3,304 3,600 (296) -8.2% 17,399 15,751 1,648 40,580 23,181 43%Ave $ Per Paid Round Green Fee 81.13 77.43 3.71 4.8% 57.89 62.47 (4.58) 77.90 20.01 74%Ave $ Per Paid Round Merchandise 8.91 8.50 0.41 4.8% 6.58 7.67 (1.09) 8.07 1.49 82%Ave $ Per Paid Miscellaneous 4.33 2.92 1.42 48.6% 2.84 2.52 0.32 2.06 - 0%Month to Date Year to DateDecember 2007SilverRock ResortSummary Operating Income Statement1 Income DecemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4000000 Revenue-Fees 268,060.10 278,730.00 (10,669.90) 1,007,183.60 983,955.00 23,228.60 3,161,211.002,154,027.4032%4010000 Rider Fee 450.00 360.00 90.00 2,875.00 1,575.00 1,300.00 4,058.001,183.0071%4040000 Club Rental 1,925.00 1,260.00 665.00 12,650.00 5,513.00 7,137.00 14,203.001,553.0089%4050000 Driving Range 5,230.00 2,880.00 2,350.00 17,590.00 12,600.00 4,990.00 32,464.0014,874.0054%4060000 Handicap Fees 855.00 2,500.00 (1,645.00) 5,060.00 6,000.00 (940.00) 8,000.00 2,940.0063%4080000 GPS Advertising 4,112.50 2,000.00 2,112.50 6,737.50 9,000.00 (2,262.50) 12,000.00 5,262.5056%4090000 Ball Retriever/Subcontract - - - 1,264.30 2,000.00 (735.70) 4,000.00 2,735.7032%4091000 Golf Professional Rental Fee 1,750.00 1,500.00 250.00 3,250.00 3,000.00 250.00 9,000.00 - 0% Total Revenue Fees 282,382.60 289,230.00 (6,847.40) 1,056,610.40 1,023,643.00 32,967.40 3,244,936.00 2,182,575.60 33%Total Income 282,382.60 289,230.00 (6,847.40) 1,056,610.40 1,023,643.00 32,967.40 3,244,936.00 2,182,575.60 33%Month to Date Year to Date Annual BudgetSilverRock ResortStatement of Fees RevenueDecember 20072 Income DecemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4100000 Sales Miscellaneous 946.00 - 946.00 3,699.44 - 3,699.44 4100110 Sales Hard Goods 9,792.68 10,710.00 (917.32) 42,095.97 42,263.00 (167.03) 114,580.00 72,484.03 37%4100112 Sales-Soft Goods 20,701.10 19,890.00 811.10 84,802.42 78,488.00 6,314.42 212,791.00 127,988.58 40%5100639 GS-Discounts-Mdse (2,009.30) - (2,009.30) (16,099.89) - (16,099.89) - 16,099.89 0% Total Revenue Golf Shop 29,430.48 30,600.00 (1,169.52) 114,497.94 120,751.00 (6,253.06) 327,371.00 216,572.50 34%COS 5100150 COS-GS-Hard Goods 5,828.70 5,890.50 (61.80) 25,534.12 23,244.65 2,289.47 63,019.00 37,484.88 41%5100151 COS-GS-Soft Goods 10,601.91 10,939.50 (337.59) 36,660.09 43,168.40 (6,508.31) 117,035.05 80,374.96 31%5100152 COS-GS-Purchase Disc - (842.00) 842.00 (6.00) (3,322.00) 3,316.00 (9,003.00) (8,997.00) 0%5100220 COS-GS-Freight Merch - 252.00 (252.00) - 997.00 (997.00) 2,701.00 2,701.00 0%Cost of Sales - Golf Shop 16,430.61 16,240.00 190.61 62,188.21 64,088.05 (1,899.84) 173,752.05 111,563.84 36%Gross Profit 12,999.87 14,360.00 (1,360.13) 52,309.73 56,662.95 (4,353.22) 153,618.95 105,008.66 32%COS % 55.8% 53.1% -2.8% 54.3% 53.1% -1.2% 53.1% 51.5% 3%Expense61-PS-SALARIES & BENEFITS6101175 Employee Meals 420.00 420.00 - 2,220.00 2,220.00 - 4,680.00 2,460.00 47%6101320 Insurance Group 2,977.80 3,360.00 (382.20) 17,584.36 15,480.00 2,104.36 35,640.00 18,055.64 49%6101325 Insurance-Workers Comp 1,476.88 1,498.00 (21.12) 7,604.39 7,379.00 225.39 16,247.00 8,642.61 47%6101720 Salaries 5,872.66 3,499.00 2,373.66 30,708.68 20,994.00 9,714.68 72,000.00 41,291.32 43%6101800 Taxes-Employer Payroll 1,300.58 1,865.00 (564.42) 6,339.58 9,188.00 (2,848.42) 20,228.00 13,888.42 31%6101880 Wages-Hourly 8,805.04 11,478.00 (2,672.96) 45,118.84 52,804.00 (7,685.16) 90,474.00 45,355.16 50%6101882 Wages-Overtime 91.05 - 91.05 216.52 - 216.52 - 952.88 0%Total -PS-SALARIES & BENEFITS 20,944.01 22,120.00 (1,175.99) 109,792.37 108,065.00 1,727.37 239,269.00 130,646.03 45%61-PS OTHER EXPENSES6103762 Supplies-Office 272.90 100.00 172.90 1,814.63 1,150.00 664.63 1,525.00 (289.63) 119%6109090 Contract Services 500.00 500.00 - 3,000.00 3,000.00 - 6,000.00 3,000.00 50%6109220 Freight & Delivery 234.99 - 234.99 1,006.70 - 1,006.70 75.00 (931.70) 1342%6109490 Miscellaneous 141.70 50.00 91.70 141.70 150.00 (8.30) 450.00 308.30 31%6109150 Dues and Subscriptions - - - - - - 2,000.00 2,000.00 0%6109500 ProShop-Over/Short (25.66) - (25.66) (26.84) - (26.84) 26.84 0%6109722 Seminars/Training 1,750.00 100.00 1,650.00 2,122.75 2,850.00 (727.25) 5,490.00 3,367.25 39%6109810 Travel - Merchandise - - - - - - 90.00 90.00 0%6109820 Uniforms 1,284.77 200.00 1,084.77 2,484.20 700.00 1,784.20 1,800.00 (684.20) 138%6117840 Telephones 98.84 - 98.84 627.64 - 627.64 - (627.64) 0%Total PS-OTHER EXPENSES 4,257.54 950.00 3,307.54 11,170.78 7,850.00 3,320.78 17,430.00 6,259.22 64%Total Expenses25,201.55 23,070.00 2,131.55 120,963.15 115,915.00 5,048.15 256,699.00 136,905.25 47%Net Income(12,201.68) (8,710.00) (3,491.68) (68,653.42) (59,252.05) (9,401.37) (103,080.05) (31,896.59) -69%Month to Date Year to Date Annual BudgetSilverRock ResortGolf Shop Income StatementDecember 20073 DecemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense63-CM-SALARIES & BENEFITS6311175 Employee Meals 240.00 240.00 - 1,440.00 1,440.00 - 2,880.00 1,440.00 50.0%6311320 Insurance-Group 9,659.17 8,850.00 809.17 74,130.43 53,100.00 21,030.43 106,200.00 32,069.57 30.2%6311325 Insurance-Workers Comp 5,092.66 5,810.00 (717.34) 34,920.02 37,098.00 (2,177.98) 72,453.00 37,532.98 51.8%6311720 Salaries 11,038.48 12,331.00 (1,292.52) 66,230.88 73,986.00 (7,755.12) 148,000.00 81,769.12 55.2%6311800 Taxes-Employer Payroll 4,554.71 7,234.00 (2,679.29) 28,811.11 46,731.00 (17,919.89) 90,868.00 62,056.89 68.3%6311880 Wages-Hourly 40,262.49 45,772.00 (5,509.51) 270,962.70 274,632.00 (3,669.30) 565,951.00 294,988.30 52.1%6311882 Wages-Overtime 3,471.80 - 3,471.80 24,897.84 26,664.00 (1,766.16) 15,916.00 (8,981.84) -56.4%Total-CM-SALARIES & BENEFITS74,319.31 80,237.00 (5,917.69) 501,392.98 513,651.00 (12,258.02) 1,002,268.00 500,875.02 50.0%63-CM-SUPPLIES & MATERIALS6313734 Chemicals 787.65 2,200.00 (1,412.35) 13,610.56 14,800.00 (1,189.44) 12,300.00 (1,310.56) -10.7%6313744 Fertilizer 12,347.69 9,000.00 3,347.69 61,768.69 42,700.00 19,068.69 68,950.00 7,181.31 10.4%6313746 Flowers/Plants - 1,000.00 (1,000.00) 4,589.71 2,250.00 2,339.71 3,500.00 (1,089.71) -31.1%6313748 Fuel-Gasoline 4,027.70 3,400.00 627.70 23,880.68 23,300.00 580.68 41,400.00 17,519.32 42.3%6313750 Golf Course Accessories 138.98 200.00 (61.02) 7,561.01 3,500.00 4,061.01 4,200.00 (3,361.01) -80.0%6313756 POA Control 2,732.15 - 2,732.15 3,566.55 3,000.00 566.55 6,000.00 2,433.45 40.6%6313758 Miscellaneous Supp - - - 953.00 - 953.00 (953.00) 0.0%6313766 Pesticides 83.00 - 83.00 641.80 - 641.80 11,600.00 10,958.20 94.5%6313762 Supplies-Office 39.98 100.00 (60.02) 980.96 600.00 380.96 1,200.00 219.04 18.3%6313774 Sand - 800.00 (800.00) 2,781.08 5,780.00 (2,998.92) 6,660.00 3,878.92 58.2%6313775 Sand-Bunkers - - - - 5,000.00 (5,000.00) 5,000.00 5,000.00 100.0%6313776 Seed 2,251.98 350.00 1,901.98 91,581.48 91,650.00 (68.52) 93,750.00 2,168.52 2.3%6313778 Small Tools & Non-Capital Equip 166.78 - 166.78 7,171.02 5,900.00 1,271.02 6,500.00 (671.02) -10.3%6313780 Sod - 250.00 (250.00) 3,637.35 3,750.00 (112.65) 5,750.00 2,112.65 36.7%6313782 Topdressing - - - 7,101.97 1,300.00 5,801.97 3,900.00 (3,201.97) -82.1%Total-CM-SUPPLIES & MATERIALS22,575.91 17,300.00 5,275.91 229,825.86 203,530.00 26,295.86 270,710.00 40,884.14 15.1%63-CM-REPAIRS & MAINTENANCE6315095 CM-R&M-Contract Lake Maint 2,232.74 500.00 1,732.74 6,528.64 6,000.00 528.64 14,000.00 7,471.36 53.4%6315685 CM-R&M-Bldngs & Othr Structures 58.41 - 58.41 567.91 - 567.91 500.00 (67.91) -13.6%6315690 CM-R&M-Equipment 3,888.99 2,000.00 1,888.99 28,373.20 20,400.00 7,973.20 28,800.00 426.80 1.5%6315692 CM-R&M-Irrigation System 76.62 550.00 (473.38) 6,687.02 9,250.00 (2,562.98) 15,450.00 8,762.98 56.7%6315696 CM-R&M-Pumps 6,150.00 - 6,150.00 17,686.72 4,000.00 13,686.72 5,000.00 (12,686.72) -253.7%6315815 CM-R&M-Trees-Pruning Etc - 1,000.00 (1,000.00) 1,905.00 4,000.00 (2,095.00) 4,000.00 2,095.00 52.4%Total-CM-REPAIRS & MAINTENANCE 12,406.76 4,050.00 8,356.76 61,748.49 43,650.00 18,098.49 67,750.00 6,001.51 8.9%63-CM-UTILTIES6317830 Utilities-Electricity-Bldngs - 1,605.00 (1,605.00) - 12,783.00 (12,783.00) 22,080.00 22,080.00 100.0%6317836 Utilities-Natural Gas/LPG 44.90 - 44.90 116.35 - 116.35 (116.35) 0.0%6317840 Telephones 932.09 600.00 332.09 5,001.38 3,600.00 1,401.38 7,200.00 2,198.62 30.5%Total-CM-UTILITIES 976.99 2,205.00 (1,228.01) 5,117.73 16,383.00 (11,265.27) 29,280.00 24,162.27 82.5%63-CM-OTHER EXPENSES6319020 Auto Mileage/Allowance 500.00 500.00 - 3,000.00 3,000.00 - 6,000.00 3,000.00 50.0%6319099 Contract Svcs-Security 447.19 - 447.19 657.19 - 657.19 (657.19) 0.0%6319100 Contract Svcs-Soil/Tissue Test - - - - 2,000.00 (2,000.00) 4,000.00 4,000.00 100.0%6319101 Contract Svcs-Trash Removal 359.13 600.00 (240.87) 10,145.37 3,600.00 6,545.37 7,200.00 (2,945.37) -40.9%6319150 Dues & Subscriptions - - - - 400.00 (400.00) 900.00 900.00 100.0%6319170 Employee Education - 50.00 (50.00) 325.00 300.00 25.00 600.00 275.00 45.8%6319197 Equipment Rental - 200.00 (200.00) 2,446.15 3,100.00 (653.85) 4,200.00 1,753.85 41.8%6319206 Licenses & Permits - - - - 200.00 (200.00) 1,600.00 1,600.00 100.0%6319490 Miscellaneous - 100.00 (100.00) 4,044.29 600.00 3,444.29 1,200.00 (2,844.29) -237.0%6319500 Propane/Natural Gas - 150.00 (150.00) - 900.00 (900.00) 1,800.00 1,800.00 100.0%6319718 Safety Equipment & Training 399.30 200.00 199.30 1,896.88 2,500.00 (603.12) 3,400.00 1,503.12 44.2%6319822 Uniforms 364.42 720.00 (355.58) 5,434.14 5,070.00 364.14 9,390.00 3,955.86 42.1%6319999 Capital Expense-Capex 3,700.00 3,700.00 - 22,200.00 22,200.00 - 44,400.00 22,200.00 50.0%Total-CM-OTHER EXPENSES 5,770.04 6,220.00 (449.96) 50,149.02 43,870.00 6,279.02 84,690.00 34,540.98 40.8%Month to Date Year to DateSilverRock ResortCourse Maintenance Expense StatementDecember 2007Annual Budget4 DecemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget632-CM-LANDSCAPE MAINTENANCE632-CM-LM-SALARIES & BENEFITS6321320 Insurance-Group 1,104.00 1,104.00 - 5,571.50 6,624.00 (1,052.50) 13,248.00 7,676.50 57.9%6321325 Insurance-Workers Comp 1,580.89 1,314.00 266.89 7,913.20 8,218.00 (304.80) 16,163.00 8,249.80 51.0%6321800 Taxes-Employer Payroll 1,592.75 1,636.00 (43.25) 8,039.20 10,439.00 (2,399.80) 20,369.00 12,329.80 60.5%6321880 Wages-Hourly 13,114.39 13,141.00 (26.61) 69,473.63 78,846.00 (9,372.37) 157,692.00 88,218.37 55.9%6321882 Wages-Overtime 1,974.46 - 1,974.46 8,937.44 5,005.00 3,932.44 5,915.00 (3,022.44) -51.1%Total-CM-LM-SALARIES & BENEFITS19,366.49 17,195.00 2,171.49 99,934.97 109,132.00 (9,197.03) 213,387.00 105,775.53 49.6%632-CM-LM-SUPPLIES & MATERIALS6323778 Small Tools - 75.00 (75.00) 650.00 575.00 75.00 1,025.00 375.00 36.6%6323788 Uniforms 116.10 240.00 (123.90) 1,562.68 1,440.00 122.68 2,880.00 1,317.32 45.7%Total-CM-LM-SUPPLIES & MATERIALS116.10 315.00 (198.90) 2,212.68 2,015.00 197.68 3,905.00 1,692.32 43.3%632-CM-LM-REPAIRS & MAINTENANCE6325687 CM-LM-R&M-Drip Irrigation - 500.00 (500.00) 2,085.76 2,500.00 (414.24) 4,250.00 2,164.24 50.9%Total-CM-LM-REPAIRS & MAINTENANCE - 500.00 (500.00) 2,085.76 2,500.00 (414.24) 4,250.00 2,164.24 50.9%632-CM-WATER & ENERGY6337834 Utilities-Electricity-Pumping 4,380.98 8,500.00 (4,119.02) 35,667.10 51,000.00 (15,332.90) 102,000.00 66,332.90 65.0%6337842 Utilities-Water1,640.88 1,349.00 291.88 14,696.22 8,714.00 5,982.22 18,126.00 3,429.78 18.9%Total-CM-WATER & ENERGY6,021.86 9,849.00 (3,827.14) 50,363.32 59,714.00 (9,350.68) 120,126.00 69,762.68 58.1%141,553.46 137,871.00 3,682.46 1,002,830.81 994,445.00 8,385.81 1,796,366.00 785,858.69 43.7%Total -COURSE MAINTENANCEMonth to Date Year to DateSilverrock ResortCourse Maintenance Expense StatementDecember 2007Annual Budget5 DecemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense641-CBR-SALARIES & BENEFITS6411175 Employee Meals 600.00 600.00 - 2,820.00 2,820.00 - 6,180.00 3,360.00 54.4%6411320 Insurance-Group 60.36 720.00 (659.64) 368.55 4,320.00 (3,951.45) 8,640.00 8,271.45 95.7%6411325 Insurance-Workers Comp 940.16 1,594.00 (653.84) 4,598.34 6,620.00 (2,021.66) 16,097.00 11,498.66 71.4%6411800 Taxes-Employer Payroll 887.15 1,382.00 (494.85) 4,721.80 5,739.00 (1,017.20) 13,956.00 9,234.20 66.2%6411880 Wages-Hourly 9,444.44 11,100.00 (1,655.56) 45,739.51 46,095.00 (355.49) 112,095.00 66,355.49 59.2%6411882 Wages-Overtime 4.32 - 4.32 291.01 - 291.01 - (291.01) 0.0%Total-CBR-SALARIES & BENEFITS11,936.43 15,396.00 (3,459.57) 58,539.21 65,594.00 (7,054.79) 156,968.00 98,428.79 62.7%641-CBR-SUPPLIES & MATERIALS6413732 Supplies-Carts 519.27 500.00 19.27 2,509.58 2,000.00 509.58 2,350.00 (159.58) -6.8%6413742 Supplies-Expendable 442.53 150.00 292.53 1,056.39 2,600.00 (1,543.61) 5,050.00 3,993.61 79.1%6413752 Supplies-Range Balls - - - 5,820.00 6,000.00 (180.00) 6,000.00 180.00 3.0%6413762 Supplies-Office - 50.00 (50.00) 76.19 225.00 (148.81) 525.00 448.81 85.5%6413768 Supplies-Printing and Stationary - - - 1,161.00 - 1,161.00 420.00 (741.00) -176.4%6413786 Supplies-Towels - 72.00 (72.00) 726.01 1,860.00 (1,133.99) 2,292.00 1,565.99 68.3%6413796 Supplies-Bottled Water- 1,293.00 (1,293.00) 11,922.28 7,962.00 3,960.28 22,631.00 10,708.72 47.3%Total-CBR-SUPPLIES & MATERIALS961.80 2,065.00 (1,103.20) 23,271.45 20,647.00 2,624.45 39,268.00 15,996.55 40.7%641-CBR-REPAIRS & MAINTENANCE6415096 CBR-R&M-Contract Services-Carts 720.00 720.00 - 4,320.00 4,320.00 - 8,640.00 4,320.00 50.0%6415690 CBR-R&M-Equipment - 125.00 (125.00) 3,008.98 750.00 2,258.98 1,500.00 (1,508.98) -100.6%6415695 CBR-R&M-Cart Maintenance & Repair - 250.00 (250.00) 150.00 2,500.00 (2,350.00) 4,000.00 3,850.00 96.3%Total-CBR-REPAIRS & MAINTENANCE 720.00 1,095.00 (375.00) 7,478.98 7,570.00 (91.02) 14,140.00 6,661.02 47.1%641-CBR-OTHER EXPENSES6419093 Contract Services-Handicaps - 1,250.00 (1,250.00) 340.00 2,350.00 (2,010.00) 5,000.00 4,660.00 93.2%6419094 Contract Services-Laundry/Linen 890.80 250.00 640.80 4,582.12 1,500.00 3,082.12 3,000.00 (1,582.12) -52.7%6419220 Freight/Delivery - 75.00 (75.00) 86.00 450.00 (364.00) 900.00 814.00 90.4%6419490 Miscellaneous - 75.00 (75.00) 93.32 500.00 (406.68) 1,150.00 1,056.68 91.9%6419820 Uniforms - - - 2,030.46 3,000.00 (969.54) 5,625.00 3,594.54 63.9%Total-CBR-OTHER EXPENSES 890.80 1,650.00 (759.20) 7,131.90 7,800.00 (668.10) 15,675.00 8,543.10 54.5%TOTAL-CARTS,BAGROOM & RANGE 14,509.03 20,206.00 (5,696.97) 96,421.54 101,611.00 (5,189.46) 226,051.00 129,629.46 57.3%643-CS-SALARIES & BENEFITS6431175 Employee Meals 300.00 300.00 - 1,440.00 1,440.00 - 3,120.00 1,680.00 53.8%6431325 Insurance-Workers Comp 556.90 413.00 143.90 1,988.14 1,584.00 404.14 4,073.00 2,084.86 51.2%6431800 Taxes-Employer Payroll 797.94 514.00 283.94 2,730.14 1,970.00 760.14 5,071.00 2,340.86 46.2%6431880 Wages-Hourly 5,591.30 4,125.00 1,466.30 19,873.33 15,825.00 4,048.33 40,732.00 20,858.67 51.2%6431882 Wages-Overtime 5.64 - 5.64 36.61 - 36.61 - (36.61) 0.0%Total-CS-SALARIES & BENEFITS7,251.78 5,352.00 1,899.78 26,068.22 20,819.00 5,249.22 52,996.00 26,927.78 50.8%643-CS-OTHER EXPENSES6433742 Supplies Expendable 466.93 100.00 366.93 676.56 500.00 176.56 1,050.00 373.44 35.6%6439490 Miscellaneous - - - 61.00 - 61.00 200.00 139.00 69.5%6439718 Safety Equipment & Training - 50.00 (50.00) - 300.00 (300.00) 600.00 600.00 100.0%6439820 Uniforms - 75.00 (75.00) 883.73 1,125.00 (241.27) 1,900.00 1,016.27 53.5%6439999 Capital Expense-Capex 1,213.00 1,213.00 - 7,278.00 7,278.00 - 14,556.00 7,278.00 50.0%Total-CS-OTHER EXPENSES 1,679.93 1,438.00 241.93 8,899.29 9,203.00 (303.71) 18,306.00 9,406.71 51.4%Total-COURSE SERVICES 8,931.71 6,790.00 2,141.71 34,967.51 30,022.00 4,945.51 71,302.00 36,334.49 51.0%TOTAL OUTSIDE SERVICES 23,440.74 26,996.00 (3,555.26) 131,389.05 131,633.00 (243.95) 297,353.00 156,557.24 52.7%Month to Date Year to DateSilverRock ResortOutside Services Expense StatementDecember 2007Annual Budget6 DecemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense65-CH-SUPPLIES & MATERIALS6503742 Supplies-Expendable69.52 400.00 (330.48) 2,894.13 2,400.00 494.13 4,800.00 1,905.87 39.7%Total-CH-SUPPLIES & MATERIALS 69.52 400.00 (330.48) 2,894.13 2,400.00 494.13 4,800.00 1,905.87 39.7%65-CH-UTILITIES6507836 Utilities-Natural Gas526.77 300.00 226.77 1,877.36 1,800.00 77.36 3,600.00 1,722.64 47.9%6507838 Utilities-Sewer- 200.00 (200.00) - 1,200.00 (1,200.00) 2,400.00 2,400.00 100.0%6507840 Utilities-Telephone1,113.16 1,000.00 113.16 7,728.91 6,000.00 1,728.91 12,000.00 4,271.09 35.6%6507842 Utilities-Water- 200.00 (200.00) 1,196.41 1,200.00 (3.59) 2,400.00 1,203.59 50.1%6507844 Utilities-Cable456.73 317.00 139.73 2,360.46 1,902.00 458.46 3,800.00 1,439.54 37.9%Total-CH-UTILITIES 2,096.66 2,017.00 79.66 13,163.14 12,102.00 1,061.14 24,200.00 11,036.86 45.6%65-CH-OTHER EXPENSES6509091 Contract Services-Cleaning1,825.00 1,825.00 - 11,575.00 11,550.00 25.00 22,500.00 10,925.00 48.6%6509098 Contract Services-Refuse Dispose535.34 500.00 35.34 2,919.72 3,000.00 (80.28) 6,000.00 3,080.28 51.3%6509099 Contract Services-Security8,225.08 8,100.00 125.08 51,628.56 48,600.00 3,028.56 97,200.00 45,571.44 46.9%6509215 Flowers & Decorations- 100.00 (100.00) 349.33 600.00 (250.67) 2,600.00 2,250.67 86.6%6509490 Miscellaneous- 200.00 (200.00) - 1,200.00 (1,200.00) 2,400.00 2,400.00 100.0%6509718 Safety Equipment & Training- 100.00 (100.00) - 600.00 (600.00) 1,200.00 1,200.00 100.0%Total-CH-OTHER EXPENSES 10,585.42 10,825.00 (239.58) 66,472.61 65,550.00 922.61 131,900.00 65,427.39 49.6%65-CH-REPAIRS & MAINTENANCE6515685 CH-R&M-Building Structures260.00 200.00 60.00 2,815.94 1,200.00 1,615.94 2,400.00 (415.94) -17.3%6515686 CH-R&M-Restaurant Repairs676.14 400.00 276.14 2,155.92 2,400.00 (244.08) 4,800.00 2,644.08 55.1%6515690 CH-R&M-Equipment Repair266.21 400.00 (133.79) 1,437.99 2,400.00 (962.01) 4,800.00 3,362.01 70.0%Total-CH-REPAIRS & MAINTENANCE 1,202.35 1,000.00 202.35 6,409.85 6,000.00 409.85 12,000.00 5,590.15 46.6%Total CLUBHOUSE 13,953.95 14,242.00 (288.05) 88,939.73 86,052.00 2,887.73 172,900.00 11,180.30 6.5%Month to Date Year to DateSilverRock ResortClubhouse Expense StatementDecember 2007Annual Budget7 DecemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense66-MKT-SUPPLIES & MATERIALS6603762 Supplies-Office - 100.00 (100.00) 664.46 600.00 64.46 1,200.00 535.54 44.6%6603768 Supplies-Printing & Stationery - 200.00 (200.00) 606.16 3,600.00 (2,993.84) 4,425.00 3,818.84 86.3%- 300.00 (300.00) 1,270.62 4,200.00 (2,929.38) 5,625.00 4,354.38 77.4%66-MKT-UTILITIES6607840 Utilities-Telephone 65.90 100.00 (34.10) 419.86 600.00 (180.14) 1,200.00 780.14 65.0%Total-MKT-UTILITIES 65.90 100.00 (34.10) 419.86 600.00 (180.14) 1,200.00 780.14 65.0%66-MKT-OTHER EXPENSES6609010 Advertising 20,103.05 24,502.00 (4,398.95) 112,783.37 94,712.00 18,071.37 221,834.00 109,050.63 49.2%6609040 Business Meals - 25.00 (25.00) 49.67 150.00 (100.33) 300.00 250.33 83.4%6609080 Collateral Material - - - 3,507.19 3,500.00 7.19 9,000.00 5,492.81 61.0%6609102 Contract Services-Web Page 511.69 175.00 336.69 1,105.69 1,050.00 55.69 2,100.00 994.31 47.3%6609490 Miscellaneous - 50.00 (50.00) - 100.00 (100.00) 350.00 350.00 100.0%6609620 Postage 91.55 50.00 41.55 222.75 300.00 (77.25) 600.00 377.25 62.9%6609630 Promotion - 500.00 (500.00) - 5,500.00 (5,500.00) 6,500.00 6,500.00 0.0%6609633 Promotion-Community - 750.00 (750.00) - 2,475.00 (2,475.00) 2,925.00 2,925.00 100.0%6609634 Promotion-Media/Vender - 50.00 (50.00) - 150.00 (150.00) 700.00 - 0.0%6609150 Dues and Subscriptions - - - 320.00 - 320.00 735.00 415.00 56.5%6609820 Uniforms - 50.00 (50.00) - 400.00 (400.00) 600.00 600.00 100.0%Total-MKT-OTHER EXPENSES 20,706.29 26,152.00 (5,445.71) 117,988.67 108,337.00 9,651.67 245,644.00 126,955.33 51.7%Total-MARKETING 20,772.19 26,552.00 (5,779.81) 119,679.15 113,137.00 6,542.15 252,469.00 132,089.85 52.3%Month to Date Year to DateSilverRock ResortMarketing Expense StatementDecember 2007Annual Budget8 DecemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense67-G&A-SALARIES & BENEFITS6701175 Employee Meals 180.00 180.00 - 1,080.00 1,080.00 - 2,160.00 1,080.00 50.0%6701320 Insurance-Group1,740.70 1,980.00 (239.30) 10,492.14 11,880.00 (1,387.86) 23,760.00 13,267.86 55.8%6701325 Insurance-Workers Comp1,599.79 1,673.00 (73.21) 9,511.02 10,038.00 (526.98) 20,076.00 10,564.98 52.6%6701720 Salaries 14,203.32 14,000.00 203.32 80,990.86 84,000.00 (3,009.14) 168,000.00 87,009.14 51.8%6701800 Taxes-Employer Payroll 774.94 2,083.00 (1,308.06) 7,175.20 12,498.00 (5,322.80) 24,994.00 17,818.80 71.3%6701880 Wages-Hourly2,078.24 2,730.00 (651.76) 15,253.43 16,380.00 (1,126.57) 32,756.00 17,502.57 53.4%6701882 Wages-Overtime - - - - - - - - 0.0%Total-G&A-SALARIES & BENEFITS 20,576.99 22,646.00 (2,069.01) 124,502.65 135,876.00 (11,373.35) 271,746.00 147,243.35 54.2%67-G&A-SUPPLIES & MATERIALS6703740 Supplies-Computer2,377.25 500.00 1,877.25 4,869.20 3,000.00 1,869.20 6,000.00 1,130.80 18.8%6703762 Supplies-Office 216.59 125.00 91.59 561.69 750.00 (188.31) 1,500.00 938.31 62.6%6703768 Supplies-Printing & Stationery157.35 400.00 (242.65) 443.03 800.00 (356.97) 3,200.00 2,756.97 86.2%6703778Supplies-Small Tools/Non-Capital - 100.00 (100.00) 395.00 400.00 (5.00) 900.00 505.00 56.1%Total-G&A-SUPPLIES & MATERIALS 2,751.19 1,125.00 1,626.19 6,268.92 4,950.00 1,318.92 11,600.00 5,331.08 46.0%67-G&A-REPAIRS & MAINTENANCE6705690 Repairs & Maintenance-Equipment- 100.00 (100.00) 512.50 600.00 (87.50) 1,200.00 687.50 57.3%Total-G&A-REPAIRS & MAINTENANCE - 100.00 (100.00) 512.50 600.00 (87.50) 1,200.00 687.50 57.3%67-G&A-OTHER EXPENSES6709020 Auto/Mileage Allowance400.00 400.00 - 2,400.00 2,400.00 - 4,800.00 2,400.00 50.0%6709090 Contract Services- - - 720.00 - 720.00 - - 0.0%6709150 Dues & Subscriptions- 200.00 (200.00) 270.00 550.00 (280.00) 1,500.00 1,230.00 82.0%6709180 Employee Recruiting/Relocation789.17 1,000.00 (210.83) 1,708.17 4,000.00 (2,291.83) 4,600.00 2,891.83 62.9%6709197 Equipment Rental143.92 350.00 (206.08) 2,196.99 2,100.00 96.99 4,200.00 2,003.01 47.7%6709202 Fees-Bank10.00 300.00 (290.00) 318.68 1,800.00 (1,481.32) 3,600.00 3,281.32 91.1%6709204 Fees-Bank37.63 - 37.63 37.63 - 37.63 - (37.63) 0.0%6709208 Fees-Payroll Processing- 550.00 (550.00) 2,914.49 3,300.00 (385.51) 6,600.00 3,685.51 55.8%6709220 Freight/Delivery- 50.00 (50.00) 283.58 300.00 (16.42) 600.00 316.42 52.7%6709490 Miscellaneous 80.00 100.00 (20.00) 213.86 600.00 (386.14) 1,200.00 986.14 82.2%6709620 Postage/Mail Services 72.46 75.00 (2.54) 519.82 450.00 69.82 900.00 380.18 42.2%6709625 Professional Fees- 400.00 (400.00) - 2,400.00 (2,400.00) 4,800.00 4,800.00 100.0%6709636 Promotion/Entertainment- 100.00 (100.00) - 600.00 (600.00) 1,200.00 1,200.00 100.0%6709722 Seminars & Training- - - 538.45 500.00 38.45 900.00 361.55 40.2%6709810 Travel - - - - 100.00 (100.00) 1,100.00 1,100.00 100.0%6709820 Uniforms 101.21 75.00 26.21 188.33 600.00 (411.67) 1,050.00 861.67 82.1%Total-G&A-OTHER EXPENSES 1,634.39 3,600.00 (1,965.61) 12,310.00 19,700.00 (7,390.00) 37,050.00 25,460.00 68.7%Total-GENERAL & ADMINISTRATIVE24,962.57 27,471.00 (2,508.43) 143,594.07 161,126.00 (17,531.93) 321,596.00 178,721.93 55.6%Month to Date Year to DateSilverRock ResortGeneral & Administrative Expense StatementDecember 2007Annual Budget9 DecemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense68-LEASES6800192 Equipment Leases-Carts 10,239.47 9,800.00 439.47 58,641.19 58,800.00 (158.81) 117,600.00 58,958.81 50.1%6800193 Equipment Leases-Course Maint 17,487.00 20,000.00 (2,513.00) 108,471.68 120,000.00 (11,528.32) 240,000.00 131,528.32 54.8%6800194 Equipment Leases-Trailer 556.16 600.00 (43.84) 4,045.82 3,600.00 445.82 7,200.00 3,154.18 43.8%6800195 Equipment Leases-Software 1,762.93 1,525.00 237.93 10,577.58 9,150.00 1,427.58 18,300.00 7,722.42 42.2%6800196 Equipment Leases-GPS 6,840.14 7,400.00 (559.86) 41,040.84 44,400.00 (3,359.16) 88,800.00 47,759.16 53.8%6800198 Equipment Leases-Others 4,254.09 - 4,254.09 14,855.50 - 14,855.50 - - 0.0%Total-LEASES 41,139.79 39,325.00 1,814.79 237,632.61 235,950.00 1,682.61 471,900.00 249,122.89 52.8%69-MISC OTHER EXPENSES6900096 Contract Srvcs-Management Fee 7,049.17 8,995.00 (1,945.83) 83,906.61 85,499.00 (1,592.39) 111,277.00 27,370.39 24.6%6900210 FF&E Reserve 5,647.66 6,427.00 (779.34) 21,067.18 23,008.00 (1,940.82) 71,686.00 50,618.82 70.6%6900800 Personal Property Taxes - - - 18,249.05 20,000.00 (1,750.95) 20,000.00 1,750.95 8.8%6900323 Insurance-Commercial 2,106.62 4,200.00 (2,093.38) 9,825.38 25,200.00 (15,374.62) 50,400.00 40,574.62 80.5%Total-MISC OTHER EXPENSES14,803.45 19,622.00 (4,818.55) 133,048.22 153,707.00 (20,658.78) 253,363.00 120,314.78 47.5%Annual BudgetMonth to Date Year to Date Operating Leases & Miscellaneous Other Expense StatementDecember 200710 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report‐2007‐2008December 2007Date Time Description CategoryPlayers12/17/2007 11:30 Wilms, Bill - Golf DigestMedia 112/27/2007 8:22 Evans, Chad - CBS2 Media 412/28/2007 9:15 Misuraca, Karen - Alaska Airlines Media 212/26/2007 8:30 Karchman, Art - Indian Wells Sales Manager Sales 211 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report‐2007‐20082007 2007 2007 2007 2007 2007Comp CategoryJulyAugustSeptemberOctoberNovemberDecemberMedia1416097Sales2PromotionGolf Industry7 2022 1516VIPCelebrity PGA Comp52 54 48 22 42 51Charity/Gift Certificate81526Rain/Wind Checks41434Club Staff88 99 98 35 87 157LQ HS Golf148 177 196 58 172 2932008 2008 2008 2008 2008 2008Comp CategoryJanuaryFebruaryMarchAprilMayJuneMediaSalesPromotionGolf IndustryVIPCelebrityPGA CompCharity/Gift CertificateRain/Wind ChecksClub StaffLQ HS Golf00000012