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08 February 2007 SilverRock Resort - Monthly Financial Statement Monthly Financial Statements July 2006 – February 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 FebruaryFinal Budget Variance Percentages Unfavorable (-) Favorable (+) Final Budget Variance Annual Budget Unemcumb. % Bdgt Income400000 Golf Green Fee Revenue 449,712.13 439,716.00 9,996.13 2.3% 1,701,292.18 1,670,030.00 31,262.18 2,985,870.00 1,284,577.82 57%401000 Miscellaneous Golf Revenue 12,501.00 5,883.00 6,618.00 112.5% 62,907.87 42,828.00 20,079.87 62,181.00 (726.87) 101%410000 Revenue-Golf Shop 39,193.78 39,525.00 (331.22) -0.8% 167,624.43 189,924.00 (22,299.57) 311,248.00 143,623.57 54%420000 Revenue-F&B Concession 1,500.00 1,500.00 - 0.0% 9,000.00 9,000.00 - 12,000.00 3,000.00 75%890000 Interest Income 26.79 - 26.79 0.0% 174.54 - 174.54 - (174.54) Total Income 502,933.70 486,624.00 16,309.70 3.4% 1,940,999.02 1,911,782.00 29,217.02 3,371,299.00 1,430,299.98 58%Cost of Goods Sold510000 COS-Golf Shop 19,196.00 22,924.50 (3,728.50) 16.3% 83,167.84 110,155.92 26,988.08 180,513.00 97,345.16 46%Total COS 19,196.00 22,924.50 (3,728.50) 16.3% 83,167.84 110,155.92 26,988.08 180,513.00 97,345.16 46%Gross Profit 483,737.70 463,699.50 20,038.20 4.3% 1,857,831.18 1,801,626.08 56,205.10 3,190,786.00 1,332,954.82 58%610000 Golf Pro Shop 19,613.83 19,264.00 (349.83) -1.8% 134,694.52 134,749.00 54.48 211,697.00 77,002.48 64%630000 Course Maintenance 125,194.67 121,035.00 (4,159.67) -3.4% 1,214,316.12 1,217,827.00 3,510.88 1,739,809.00 525,492.88 70%640000 Outside Services 26,302.84 28,618.00 2,315.16 8.1% 153,692.41 186,371.00 32,678.59 291,576.00 137,883.59 53%650000 Clubhouse 13,893.21 16,968.00 3,074.79 18.1% 121,498.90 129,580.00 8,081.10 197,095.00 75,596.10 62%660000 Marketing 43,005.71 43,706.00 700.29 1.6% 222,636.88 224,254.00 1,617.12 248,481.00 25,844.12 90%670000 General & Administrative 23,683.20 25,902.00 2,218.80 8.6% 191,530.82 207,116.00 15,585.18 311,576.00 120,045.18 61%680000 Leases 39,046.45 39,325.00 278.55 0.7% 309,321.09 314,600.00 5,278.91 471,900.00 162,578.91 66%690000 Miscellaneous Other Expense 9,194.26 15,107.00 5,912.74 39.1% 149,957.02 165,168.00 15,210.98 263,021.00 113,063.98 57%Total Expenses 299,934.17 309,925.00 9,990.83 3.2% 2,497,647.76 2,579,665.00 82,017.24 3,735,155.00 1,237,507.24 67%Net Income183,803.53 153,774.50 30,029.03 19.5%(639,816.58) (778,038.92) 138,222.34 (544,369.00) 95,447.58 118%Rounds of Golf PlayedPaid Rounds 4,673 4,651 22 0.5% 23,488 23,647 (159) 39,220 15,732 60%Ave $ Per Paid Round Green Fee 96.24 94.54 1.69 1.8% 72.43 70.62 1.81 76.13 3.70 95%Ave $ Per Paid Round Merchandise 8.39 8.50 (0.11) -1.3% 7.14 8.03 (0.90) 7.94 0.80 90%Ave $ Per Paid Miscellaneous 2.68 1.26 1.41 111.5% 2.68 1.81 0.87 1.59 - 0%February 2007SilverRock ResortSummary Operating Income Statement1 Income FebruaryFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4000000 Revenue-Fees 449,712.13 439,716.00 9,996.13 1,701,292.18 1,670,030.00 31,262.18 2,985,870.001,284,577.8257%4010000 Rider Fee 625.00 - 625.00 4,143.92 - 4,143.92 0.000.000%4040000 Club Rental 2,100.00 1,395.00 705.00 10,470.00 7,094.00 3,376.00 11,766.001,296.0089%4050000 Driving Range 8,126.00 3,488.00 4,638.00 27,362.00 17,734.00 9,628.00 29,415.002,053.0093%4060000 Handicap Fees 500.00 500.00 - 4,830.00 7,500.00 (2,670.00) 8,000.00 3,170.0060%4080000 GPS Advertising - 500.00 (500.00) 12,150.00 7,500.00 4,650.00 9,000.00 -3,150.00135%4090000 Ball Retriever/Subcontract - - - 1,301.95 3,000.00 (1,698.05) 4,000.00 4,000.00 0%4091000 Golf Professional Rental Fee 1,150.00 - 1,150.00 2,650.00 - 2,650.00 - - 0% Total Revenue Fees 462,213.13 445,599.00 16,614.13 1,764,200.05 1,712,858.00 51,342.05 3,048,051.00 1,291,946.82 58%Total Income462,213.13 445,599.00 16,614.13 1,764,200.05 1,712,858.00 51,342.05 3,048,051.00 1,291,946.82 58%Month to Date Year to Date Annual BudgetSilverRock ResortStatement of Fees RevenueFebruary 20072 Income FebruaryFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4100000 Sales Miscellaneous 2,369.99 - 2,369.99 10,687.17 - 10,687.17 4100110 Sales Hard Goods 9,775.56 13,834.00 (4,058.44) 54,282.57 66,474.00 (12,191.43) 108,937.00 54,654.43 50%4100112 Sales-Soft Goods 29,477.75 25,691.00 3,786.75 115,177.21 123,450.00 (8,272.79) 202,311.00 87,133.79 57%5100639 GS-Discounts-Mdse (2,429.52) - (2,429.52) (12,522.52) - (12,522.52) (9,353.00) 3,169.52 -134% Total Revenue Golf Shop 39,193.78 39,525.00 (331.22) 167,624.43 189,924.00 (22,299.57) 301,895.00 144,957.74 52%COS 5100150 COS-GS-Hard Goods 6,613.65 8,023.72 (1,410.07) 31,611.18 38,554.92 (6,943.74) 63,183.46 31,572.28 50%5100151 COS-GS-Soft Goods 12,582.35 14,900.78 (2,318.43) 51,556.66 71,601.00 (20,044.34) 107,977.38 56,420.72 48%Cost of Sales - Golf Shop 19,196.00 22,924.50 (3,728.50) 83,167.84 110,155.92 (26,988.08) 171,160.84 87,993.00 49%Gross Profit 19,997.78 16,600.50 3,397.28 84,456.59 79,768.08 4,688.51 130,734.16 56,964.74 56%COS % 49.0% 58.0% 9.0% 49.6% 58.0% 8.4% 61.0% 60.7% 1%Expense61-PS-SALARIES & BENEFITS6101175 Employee Meals 360.00 360.00 - 2,551.87 2,580.00 (28.13) 3,960.00 1,408.13 64%6101320 Insurance Group 2,478.60 3,000.00 (521.40) 20,170.41 19,320.00 850.41 31,320.00 11,149.59 64%6101325 Insurance-Workers Comp 1,250.56 1,230.00 20.56 4,764.27 8,512.00 (3,747.73) 13,313.00 8,548.73 36%6101720 Salaries 3,262.22 3,333.00 (70.78) 32,795.88 26,664.00 6,131.88 39,992.00 7,196.12 82%6101800 Taxes-Employer Payroll 1,615.45 1,531.00 84.45 8,601.87 10,597.00 (1,995.13) 16,575.00 7,973.13 52%6101880 Wages-Hourly 9,069.87 8,965.00 104.87 49,992.84 58,456.00 (8,463.16) 93,138.00 43,145.16 54%6101882 Wages-Overtime 173.46 - 173.46 973.06 - 973.06 - 952.88 0%Total -PS-SALARIES & BENEFITS 18,210.16 18,419.00 (208.84) 119,850.20 126,129.00 (6,278.80) 198,298.00 80,373.74 59%61-PS-SUPPLIES & MATERIALS6103742 Supplies-Expendable - - - 762.79 - 762.79 - (762.79) 0%Total PS-SUPPLIES & MATERIALS - - - 762.79 - 762.79 - (762.79) 0%61-PS OTHER EXPENSES6103762 Supplies-Office - 45.00 (45.00) 866.98 1,345.00 (478.02) 1,525.00 658.02 57%6109090 Contract Services 1,000.00 500.00 500.00 3,000.00 4,000.00 (1,000.00) 6,000.00 3,000.00 50%6109197 Equipment Rental - - - 1,593.00 - 1,593.00 - (1,593.00) 0%6109220 Freight & Delivery - - - 1,023.21 75.00 948.21 75.00 (948.21) 1364%6109490 Miscellaneous - 50.00 (50.00) 1,171.59 250.00 921.59 450.00 (721.59) 260%6109150 Dues and Subscriptions - - - 156.93 - 156.93 1,500.00 1,343.07 10%6109500 ProShop-Over/Short 2.85 - 2.85 87.23 - 87.23 - (87.23) 0%6109722 Seminars/Training - 35.00 (35.00) 3,510.00 1,820.00 1,690.00 1,960.00 (1,550.00) 179%6109810 Travel - Merchandise - 15.00 (15.00) 44.62 30.00 14.62 90.00 45.38 50%6109820 Uniforms 400.82 200.00 200.82 1,890.29 1,100.00 790.29 1,800.00 (90.29) 105%6117840 Telephones - - - 737.68 - 737.68 - (737.68) 0%6119206 License and Permits - - - - - - - - 0%Total PS-OTHER EXPENSES 1,403.67 845.00 558.67 14,081.53 8,620.00 5,461.53 13,400.00 (681.53) 105%Total Expenses 19,613.83 19,264.00 349.83 134,694.52 134,749.00 (54.48) 211,698.00 79,692.21 62%Net Income383.95 (2,663.50) 3,047.45 (50,237.93) (54,980.92) 4,742.99 (80,963.84) (22,727.47) -72%Month to Date Year to Date Annual BudgetSilverRock ResortGolf Shop Income StatementFebruary 20073 FebruaryFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense63-CM-SALARIES & BENEFITS6311175 Employee Meals 240.00 240.00 - 1,920.00 1,920.00 - 2,880.00 960.00 33.3%6311320 Insurance-Group 8,068.61 5,880.00 2,188.61 88,406.14 47,040.00 41,366.14 70,560.00 (17,846.14) -25.3%6311325 Insurance-Workers Comp 5,495.38 5,690.00 (194.62) 34,555.28 47,724.00 (13,168.72) 70,971.00 36,415.72 51.3%6311720 Salaries 11,426.57 11,748.00 (321.43) 91,618.97 93,984.00 (2,365.03) 141,000.00 49,381.03 35.0%6311800 Taxes-Employer Payroll 6,632.65 7,084.00 (451.35) 45,867.67 59,951.00 (14,083.33) 89,006.00 43,138.33 48.5%6311880 Wages-Hourly 43,527.15 45,148.00 (1,620.85) 384,473.97 374,664.00 9,809.97 558,230.00 173,756.03 31.1%6311882 Wages-Overtime - - - 28,277.24 12,859.00 15,418.24 15,679.00 (12,598.24) -80.4%Total-CM-SALARIES & BENEFITS75,390.36 75,790.00 (399.64) 675,119.27 638,142.00 36,977.27 948,326.00 273,206.73 28.8%63-CM-SUPPLIES & MATERIALS6313734 Chemicals - - - 17,873.30 - 17,873.30 (17,873.30) 0.0%6313744 Fertilizer 10,300.47 3,850.00 6,450.47 61,779.17 38,250.00 23,529.17 54,650.00 (7,129.17) -13.0%6313746 Flowers/Plants - 100.00 (100.00) - 3,300.00 (3,300.00) 3,500.00 3,500.00 100.0%6313748 Fuel-Gasoline 3,018.08 2,900.00 118.08 27,585.98 29,100.00 (1,514.02) 40,900.00 13,314.02 32.6%6313750 Golf Course Accessories 593.32 100.00 493.32 8,159.90 3,800.00 4,359.90 4,200.00 (3,959.90) -94.3%6313756 POA Control 297.81 - 297.81 911.36 6,000.00 (5,088.64) 6,000.00 5,088.64 84.8%6313758 Miscellaneous Supp 201.64 100.00 101.64 1,858.74 800.00 1,058.74 1,200.00 (658.74) -54.9%6313766 Pesticides 4,081.34 2,000.00 2,081.34 12,945.87 13,200.00 (254.13) 14,900.00 1,954.13 13.1%6313762 Supplies-Office 122.87 - 122.87 810.78 - 810.78 - (810.78) 0.0%6313774 Sand - 100.00 (100.00) 3,460.18 6,260.00 (2,799.82) 16,660.00 13,199.82 79.2%6313775 Sand-Bunkers - - - 3,552.24 10,000.00 (6,447.76) 10,000.00 6,447.76 64.5%6313776 Seed 228.52 350.00 (121.48) 103,287.04 83,350.00 19,937.04 84,750.00 (18,537.04) -21.9%6313778 Small Tools & Non-Capital Equip - 100.00 (100.00) 2,078.07 6,100.00 (4,021.93) 6,500.00 4,421.93 68.0%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 & MATERIALS18,844.05 9,600.00 9,244.05 250,954.37 205,710.00 45,244.37 252,910.00 1,955.63 0.8%63-CM-REPAIRS & MAINTENANCE6315095 CM-R&M-Contract Lake Maint - 1,500.00 (1,500.00) 6,276.47 8,000.00 (1,723.53) 14,000.00 7,723.53 55.2%6315685 CM-R&M-Bldngs & Othr Structures - 250.00 (250.00) 859.06 500.00 359.06 500.00 (359.06) -71.8%6315686 CM-R&M- Drainage 25.22 - 25.22 5,083.39 - 5,083.39 - (5,083.39) 0.0%6315690 CM-R&M-Equipment 2,509.24 700.00 1,809.24 29,131.08 11,600.00 17,531.08 14,400.00 (14,731.08) -102.3%6315692 CM-R&M-Irrigation System 564.65 550.00 14.65 11,142.20 6,250.00 4,892.20 8,450.00 (2,692.20) -31.9%6315696 CM-R&M-Pumps - - - 5,004.99 4,000.00 1,004.99 5,000.00 (4.99) -0.1%6315815 CM-R&M-Trees-Pruning Etc - - - 3,495.40 4,000.00 (504.60) 4,000.00 504.60 12.6%Total-CM-REPAIRS & MAINTENANCE 3,099.11 3,000.00 99.11 60,992.59 34,350.00 26,642.59 46,350.00 (14,642.59) -31.6%63-CM-UTILTIES6317830 Utilities-Electricity-Bldngs - 1,106.00 (1,106.00) 17,885.16 14,998.00 2,887.16 22,080.00 4,194.84 19.0%6317836 Utilities-Natural Gas/LPG - - - 172.22 - 172.22 - (172.22) 0.0%6317840 Telephones 464.35 350.00 114.35 6,588.90 2,800.00 3,788.90 4,200.00 (2,388.90) -56.9%Total-CM-UTILITIES 464.35 1,456.00 (991.65) 24,646.28 17,798.00 6,848.28 26,280.00 1,633.72 6.2%63-CM-OTHER EXPENSES6319020 Auto Mileage/Allowance 500.00 500.00 - 4,000.00 4,000.00 - 6,000.00 2,000.00 33.3%6319099 Contract Svcs-Security 70.00 - 70.00 70.00 - 70.00 - (70.00) 0.0%6319100 Contract Svcs-Soil/Tissue Test 38.76 - 38.76 38.76 2,000.00 (1,961.24) 4,000.00 3,961.24 99.0%6319101 Contract Svcs-Trash Removal 2,361.37 400.00 1,961.37 8,437.44 3,200.00 5,237.44 18,800.00 10,362.56 55.1%6319102 Greens-Waste Removal 1,134.21 300.00 834.21 10,358.82 12,800.00 (2,441.18) 14,000.00 3,641.18 26.0%6319150 Dues & Subscriptions - 200.00 (200.00) - 600.00 (600.00) 900.00 900.00 100.0%6319170 Employee Education - 50.00 (50.00) - 400.00 (400.00) 600.00 600.00 100.0%6319197 Equipment Rental - 200.00 (200.00) 1,364.15 3,500.00 (2,135.85) 4,200.00 2,835.85 67.5%6319206 Licenses & Permits 966.01 200.00 766.01 966.01 1,400.00 (433.99) 1,800.00 833.99 46.3%6319490 Miscellaneous - 100.00 (100.00) 1,583.55 800.00 783.55 1,200.00 (383.55) -32.0%6319500 Propane/Natural Gas - 150.00 (150.00) - 1,200.00 (1,200.00) 1,800.00 1,800.00 100.0%6319718 Safety Equipment & Training 384.62 200.00 184.62 2,016.57 2,900.00 (883.43) 3,400.00 1,383.43 40.7%6319822 Uniforms 83.41 720.00 (636.59) 5,341.79 6,510.00 (1,168.21) 9,390.00 4,048.21 43.1%Total-CM-OTHER EXPENSES 5,538.38 3,020.00 2,518.38 34,177.09 39,310.00 (5,132.91) 66,090.00 31,912.91 48.3%Month to Date Year to DateSilverRock ResortCourse Maintenance Expense StatementFebruary 2007Annual Budget4 FebruaryFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget632-CM-LANDSCAPE MAINTENANCE632-CM-LM-SALARIES & BENEFITS6321320 Insurance-Group 1,104.00 1,104.00 - 9,784.63 8,832.00 952.63 13,248.00 3,463.37 0.0%6321325 Insurance-Workers Comp 1,029.20 1,314.00 (284.80) 5,085.98 10,877.00 (5,791.02) 16,194.00 11,108.02 68.6%6321800 Taxes-Employer Payroll 1,207.56 1,636.00 (428.44) 7,420.53 13,767.00 (6,346.47) 20,426.00 13,005.47 63.7%6321880 Wages-Hourly 10,159.83 13,141.00 (2,981.17) 76,000.84 105,128.00 (29,127.16) 157,692.00 81,691.16 51.8%6321882 Wages-Overtime 132.38 - 132.38 4,901.01 5,460.00 (558.99) 6,370.00 1,468.99 23.1%Total-CM-LM-SALARIES & BENEFITS13,632.97 17,195.00 (3,562.03) 103,192.99 144,064.00 (40,871.01) 213,930.00 107,273.64 50.1%632-CM-LM-SUPPLIES & MATERIALS6323778 Small Tools 201.22 75.00 126.22 5,163.52 725.00 4,438.52 1,025.00 (4,138.52) -403.8%6323788 Uniforms 402.33 240.00 162.33 2,248.32 1,920.00 328.32 2,880.00 631.68 21.9%Total-CM-LM-SUPPLIES & MATERIALS603.55 315.00 288.55 7,411.84 2,645.00 4,766.84 3,905.00 (3,506.84) -89.8%632-CM-LM-REPAIRS & MAINTENANCE6325687 CM-LM-R&M-Drip Irrigation 382.09 250.00 132.09 3,391.14 3,000.00 391.14 4,250.00 858.86 20.2%Total-CM-LM-REPAIRS & MAINTENANCE 382.09 250.00 132.09 3,391.14 3,000.00 391.14 4,250.00 858.86 20.2%632-CM-WATER & ENERGY6337834 Utilities-Electricity-Pumping 6,496.51 8,982.00 (2,485.49) 44,187.26 121,163.00 (76,975.74) 183,642.00 139,454.74 75.9%6337842 Utilities-Water743.30 1,427.00 (683.70) 10,243.29 11,645.00 (1,401.71) 18,126.00 7,882.71 43.5%Total-CM-WATER & ENERGY7,239.81 10,409.00 (3,169.19) 54,430.55 132,808.00 (78,377.45) 201,768.00 147,337.45 73.0%125,194.67 121,035.00 4,159.67 1,214,316.12 1,217,827.00 (3,510.88) 1,763,809.00 546,029.51 31.0%Total -COURSE MAINTENANCEMonth to Date Year to DateSilverrock ResortCourse Maintenance Expense StatementFebruary 2007Annual Budget5 FebruaryFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense641-CBR-SALARIES & BENEFITS6411175 Employee Meals 600.00 600.00 - 3,900.00 4,020.00 (120.00) 6,240.00 2,340.00 37.5%6411320 Insurance-Group 48.15 720.00 (671.85) 5,137.55 5,760.00 (622.45) 8,640.00 3,502.45 40.5%6411325 Insurance-Workers Comp 1,150.28 1,741.00 (590.72) 3,649.37 10,424.00 (6,774.63) 16,944.00 13,294.63 78.5%6411800 Taxes-Employer Payroll 1,428.09 1,510.00 (81.91) 7,238.90 9,039.00 (1,800.10) 14,690.00 7,451.10 50.7%6411880 Wages-Hourly 11,266.56 12,127.00 (860.44) 61,270.43 72,604.00 (11,333.57) 117,992.00 56,721.57 48.1%6411882 Wages-Overtime 236.20 - 236.20 1,222.13 - 1,222.13 - (1,222.13) 0.0%Total-CBR-SALARIES & BENEFITS14,729.28 16,698.00 (1,968.72) 82,418.38 101,847.00 (19,428.62) 164,506.00 82,087.62 49.9%641-CBR-SUPPLIES & MATERIALS6413732 Supplies-Carts - 75.00 (75.00) 828.95 2,150.00 (1,321.05) 2,350.00 1,521.05 64.7%6413742 Supplies-Expendable 372.20 1,500.00 (1,127.80) 2,363.58 6,250.00 (3,886.42) 7,550.00 5,186.42 68.7%6413752 Supplies-Range Balls - - - 5,250.00 6,000.00 (750.00) 6,000.00 750.00 12.5%6413762 Supplies-Office 224.73 50.00 174.73 426.63 325.00 101.63 525.00 98.37 18.7%6413768 Supplies-Printing and Stationary - 70.00 (70.00) 95.60 140.00 (44.40) 420.00 324.40 77.2%6413786 Supplies-Towels 188.08 72.00 116.08 4,416.44 2,004.00 2,412.44 2,292.00 (2,124.44) -92.7%6413796 Supplies-Bottled Water2,500.89 2,342.00 158.89 13,884.14 12,900.00 984.14 22,631.00 8,746.86 38.6%Total-CBR-SUPPLIES & MATERIALS3,285.90 4,109.00 (823.10) 27,265.34 29,769.00 (2,503.66) 41,768.00 14,502.66 34.7%641-CBR-REPAIRS & MAINTENANCE6415096 CBR-R&M-Contract Services-Carts 720.00 720.00 - 5,040.00 5,760.00 (720.00) 8,640.00 3,600.00 41.7%6415690 CBR-R&M-Equipment 767.27 125.00 642.27 4,872.67 1,000.00 3,872.67 1,500.00 (3,372.67) -224.8%6415695 CBR-R&M-Cart Maintenance & Repair 585.13 250.00 335.13 1,740.25 2,000.00 (259.75) 3,000.00 1,259.75 42.0%Total-CBR-REPAIRS & MAINTENANCE 2,072.40 1,095.00 977.40 11,652.92 8,760.00 2,892.92 13,140.00 1,487.08 11.3%641-CBR-OTHER EXPENSES6419093 Contract Services-Handicaps - 500.00 (500.00) 2,440.00 3,850.00 (1,410.00) 5,000.00 2,560.00 51.2%6419094 Contract Services-Laundry/Linen 166.75 155.00 11.75 166.75 1,240.00 (1,073.25) 1,690.00 1,523.25 90.1%6419220 Freight/Delivery - 75.00 (75.00) 122.17 600.00 (477.83) 900.00 777.83 86.4%6419490 Miscellaneous - 75.00 (75.00) - 650.00 (650.00) 1,150.00 1,150.00 100.0%6419820 Uniforms 381.33 - 381.33 2,736.12 2,500.00 236.12 4,625.00 1,888.88 40.8%Total-CBR-OTHER EXPENSES 548.08 805.00 (256.92) 5,465.04 8,840.00 (3,374.96) 13,365.00 7,899.96 59.1%TOTAL-CARTS,BAGROOM & RANGE 20,635.66 22,707.00 (2,071.34) 126,801.68 149,216.00 (22,414.32) 232,779.00 105,977.32 45.5%643-CS-SALARIES & BENEFITS6431175 Employee Meals 300.00 300.00 - 1,980.00 2,040.00 (60.00) 3,120.00 1,140.00 36.5%6431320 Insurance-Group - - - - - - - - 0.0%6431325 Insurance-Workers Comp 387.69 440.00 (52.31) 1,537.14 2,679.00 (1,141.86) 4,261.00 2,723.86 63.9%6431800 Taxes-Employer Payroll 459.31 548.00 (88.69) 2,122.89 3,335.00 (1,212.11) 5,305.00 3,182.11 60.0%6431880 Wages-Hourly 3,839.89 4,398.00 (558.11) 17,901.62 26,776.00 (8,874.38) 42,611.00 24,709.38 58.0%6431882 Wages-Overtime 36.96 - 36.96 207.16 - 207.16 - (207.16) 0.0%Total-CS-SALARIES & BENEFITS5,023.85 5,686.00 (662.15) 23,748.81 34,830.00 (11,081.19) 55,297.00 31,548.19 57.1%643-CS-OTHER EXPENSES6433742 Supplies Expendable 191.87 100.00 91.87 1,902.38 700.00 1,202.38 1,050.00 (852.38) -81.2%6439490 Miscellaneous - - - - 200.00 (200.00) 200.00 200.00 100.0%6439718 Safety Equipment & Training - 50.00 (50.00) - 400.00 (400.00) 600.00 600.00 100.0%6439820 Uniforms 451.46 75.00 376.46 1,239.54 1,025.00 214.54 1,650.00 410.46 24.9%Total-CS-OTHER EXPENSES 643.33 225.00 418.33 3,141.92 2,325.00 816.92 3,500.00 358.08 10.2%Total-COURSE SERVICES 5,667.18 5,911.00 (243.82) 26,890.73 37,155.00 (10,264.27) 58,797.00 31,906.27 54.3%TOTAL OUTSIDE SERVICES26,302.84 28,618.00 (2,315.16) 153,692.41 186,371.00 (32,678.59) 291,576.00 137,525.51 47.2%Month to Date Year to DateSilverRock ResortOutside Services Expense StatementFebruary 2007Annual Budget6 FebruaryFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense65-CH-SUPPLIES & MATERIALS6503742 Supplies-Expendable566.16 400.00 166.16 3,960.30 3,200.00 760.30 4,800.00 839.70 17.5%Total-CH-SUPPLIES & MATERIALS 566.16 400.00 166.16 3,960.30 3,200.00 760.30 4,800.00 839.70 17.5%65-CH-UTILITIES6507830 Utilities-Electric-Bldgs- 4,226.00 (4,226.00) 7,375.00 26,244.00 (18,869.00) 42,795.00 35,420.00 82.8%6507836 Utilities-Natural Gas571.99 200.00 371.99 2,873.01 1,600.00 1,273.01 2,400.00 (473.01) -19.7%6507838 Utilities-Sewer- 200.00 (200.00) - 1,600.00 (1,600.00) 2,400.00 2,400.00 100.0%6507840 Utilities-Telephone744.46 675.00 69.46 8,863.96 5,400.00 3,463.96 8,100.00 (763.96) -9.4%6507842 Utilities-Water92.34 200.00 (107.66) 1,259.84 1,600.00 (340.16) 2,400.00 1,140.16 47.5%6507844 Utilities-Cable124.95 317.00 (192.05) 2,251.08 2,536.00 (284.92) 3,800.00 1,548.92 0.0%Total-CH-UTILITIES 1,533.74 5,818.00 (4,284.26) 22,622.89 38,980.00 (16,357.11) 61,895.00 39,272.11 63.4%65-CH-OTHER EXPENSES6509091 Contract Services-Cleaning1,825.00 1,750.00 75.00 14,600.00 14,000.00 600.00 21,000.00 6,400.00 30.5%6509098 Contract Services-Refuse Dispose748.36 400.00 348.36 4,406.07 3,200.00 1,206.07 4,800.00 393.93 8.2%6509099 Contract Services-Security7,740.08 7,800.00 (59.92) 66,559.80 62,400.00 4,159.80 93,600.00 27,040.20 28.9%6509215 Flowers & Decorations43.10 100.00 (56.90) 516.87 2,200.00 (1,683.13) 2,600.00 2,083.13 80.1%6509490 Miscellaneous- - - 538.67 - 538.67 - (538.67) 0.0%6509718 Safety Equipment & Training- 100.00 (100.00) - 800.00 (800.00) 1,200.00 1,200.00 100.0%Total-CH-OTHER EXPENSES 10,356.54 10,150.00 206.54 86,621.41 82,600.00 4,021.41 123,200.00 36,578.59 29.7%65-CH-REPAIRS & MAINTENANCE6515685 CH-R&M-Building Structures725.00 200.00 525.00 2,748.84 1,600.00 1,148.84 2,400.00 (348.84) -14.5%6515686 CH-R&M-Restaurant Repairs- 200.00 (200.00) 280.18 1,600.00 (1,319.82) 2,400.00 2,119.82 88.3%6515690 CH-R&M-Equipment Repair711.77 200.00 511.77 5,265.28 1,600.00 3,665.28 2,400.00 (2,865.28) -119.4%Total-CH-REPAIRS & MAINTENANCE 1,436.77 600.00 836.77 8,294.30 4,800.00 3,494.30 7,200.00 (1,094.30) -15.2%Total CLUBHOUSE13,893.21 16,968.00 (3,074.79) 121,498.90 129,580.00 (8,081.10) 197,095.00 (2,188.60) -1.1%Month to Date Year to DateSilverRock ResortClubhouse Expense StatementFebruary 2007Annual Budget7 FebruaryFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense66-MKT-SALARIES & BENEFITS6601175 Employee Meals - 60.00 (60.00) 240.00 480.00 (240.00) 720.00 480.00 66.7%6601320 Insurance-Group - 150.00 (150.00) 306.21 1,200.00 (893.79) 1,800.00 1,493.79 83.0%6601325 Insurance-Workers Comp 242.20 317.00 (74.80) 1,318.03 2,536.00 (1,217.97) 3,800.00 2,481.97 65.3%6601720 Salaries 2,421.94 3,167.00 (745.06) 16,794.17 25,336.00 (8,541.83) 38,004.00 21,209.83 55.8%6601800 Taxes-Employer Payroll 100.00 394.00 (294.00) 1,471.97 3,152.00 (1,680.03) 4,731.00 3,259.03 68.9%Total-MKT-SALARIES & BENEFITS 2,764.14 4,088.00 (1,323.86) 20,130.38 32,704.00 (12,573.62) 49,055.00 28,924.62 59.0%66-MKT-SUPPLIES & MATERIALS6603080 Collateral Material 1,879.91 500.00 1,379.91 3,496.15 6,500.00 (3,003.85) - (3,496.15) 0.0%6603762 Supplies-Office - 100.00 (100.00) 381.44 800.00 (418.56) 1,200.00 818.56 68.2%6603768 Supplies-Printing & Stationery - 125.00 (125.00) 264.49 3,925.00 (3,660.51) 4,425.00 4,160.51 94.0%1,879.91 725.00 1,154.91 4,142.08 11,225.00 (7,082.92) 5,625.00 1,482.92 26.4%66-MKT-UTILITIES6607840 Utilities-Telephone - 100.00 (100.00) 673.55 800.00 (126.45) 1,200.00 526.45 43.9%Total-MKT-UTILITIES - 100.00 (100.00) 673.55 800.00 (126.45) 1,200.00 526.45 43.9%66-MKT-OTHER EXPENSES6609010 Advertising 37,992.61 37,918.00 74.61 192,880.12 173,265.00 19,615.12 175,290.00 (17,590.12) -10.0%6609040 Business Meals 65.77 25.00 40.77 90.97 200.00 (109.03) 300.00 209.03 69.7%6609080 Collateral Material - - - 2,922.21 - 2,922.21 9,000.00 6,077.79 67.5%6609102 Contract Services-Web Page - 175.00 (175.00) 693.00 1,400.00 (707.00) 2,100.00 1,407.00 67.0%6609490 Miscellaneous 303.28 50.00 253.28 303.28 200.00 103.28 350.00 46.72 13.3%6609620 Postage - 50.00 (50.00) 174.28 400.00 (225.72) 600.00 425.72 71.0%6609630 Promotion - 50.00 (50.00) 240.42 500.00 (259.58) - (240.42) 0.0%6609633 Promotion-Community - 75.00 (75.00) 128.31 2,625.00 (2,496.69) 2,925.00 2,796.69 95.6%6609634 Promotion-Media/Vender - - - - - - 700.00 - 0.0%6609150 Dues and Subscriptions - 400.00 (400.00) - 435.00 (435.00) 735.00 735.00 0.0%6609820 Uniforms - 50.00 (50.00) 258.28 500.00 (241.72) 600.00 341.72 57.0%Total-MKT-OTHER EXPENSES 38,361.66 38,793.00 (431.34) 197,690.87 179,525.00 18,165.87 192,600.00 (5,790.87) -3.0%Total-MARKETING43,005.71 43,706.00 (700.29) 222,636.88 224,254.00 (1,617.12) 248,480.00 25,143.12 10.1%Month to Date Year to DateSilverRock ResortMarketing Expense StatementFebruary 2007Annual Budget8 FebruaryFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense67-G&A-SALARIES & BENEFITS6701175 Employee Meals 180.00 180.00 - 1,440.00 1,440.00 - 2,160.00 720.00 33.3%6701320 Insurance-Group1,576.45 2,280.00 (703.55) 12,752.85 18,240.00 (5,487.15) 27,360.00 14,607.15 53.4%6701325 Insurance-Workers Comp1,591.30 1,598.00 (6.70) 9,308.36 12,784.00 (3,475.64) 19,176.00 9,867.64 51.5%6701720 Salaries 13,262.53 13,250.00 12.53 106,966.50 106,000.00 966.50 159,000.00 52,033.50 32.7%6701800 Taxes-Employer Payroll 1,392.98 1,989.00 (596.02) 10,304.31 15,912.00 (5,607.69) 23,874.00 13,569.69 56.8%6701880 Wages-Hourly2,650.71 2,730.00 (79.29) 23,184.78 21,840.00 1,344.78 32,756.00 9,571.22 29.2%6701882 Wages-Overtime - - - 418.50 - 418.50 - (418.50) 0.0%Total-G&A-SALARIES & BENEFITS 20,653.97 22,027.00 (1,373.03) 164,375.30 176,216.00 (11,840.70) 264,326.00 99,950.70 37.8%67-G&A-SUPPLIES & MATERIALS6703740 Supplies-Computer605.40 500.00 105.40 1,050.32 4,000.00 (2,949.68) 6,000.00 4,949.68 82.5%6703762 Supplies-Office 67.59 125.00 (57.41) 919.42 1,000.00 (80.58) 1,500.00 580.58 38.7%6703768 Supplies-Printing & Stationery- 400.00 (400.00) 1,273.17 1,600.00 (326.83) 3,200.00 1,926.83 60.2%6703778Supplies-Small Tools/Non-Capital - 100.00 (100.00) - 600.00 (600.00) 900.00 900.00 100.0%Total-G&A-SUPPLIES & MATERIALS 672.99 1,125.00 (452.01) 3,242.91 7,200.00 (3,957.09) 11,600.00 8,357.09 72.0%67-G&A-REPAIRS & MAINTENANCE6705690 Repairs & Maintenance-Equipment- 100.00 (100.00) 1,742.50 800.00 942.50 1,200.00 (542.50) -45.2%Total-G&A-REPAIRS & MAINTENANCE - 100.00 (100.00) 1,742.50 800.00 942.50 1,200.00 (542.50) -45.2%67-G&A-OTHER EXPENSES6709020 Auto/Mileage Allowance400.00 400.00 - 3,200.00 3,200.00 - 4,800.00 1,600.00 33.3%6709090 Contract Services- - - 75.00 - 75.00 - - 0.0%6709150 Dues & Subscriptions- 150.00 (150.00) - 850.00 (850.00) 1,500.00 1,500.00 100.0%6709180 Employee Recruiting/Relocation280.00 - 280.00 4,162.61 2,000.00 2,162.61 2,000.00 (2,162.61) -108.1%6709197 Equipment Rental124.51 350.00 (225.49) 2,600.61 2,800.00 (199.39) 4,200.00 1,599.39 38.1%6709202 Fees-Bank242.79 300.00 (57.21) 920.16 2,400.00 (1,479.84) 3,600.00 2,679.84 74.4%6709208 Fees-Payroll Processing1,207.42 550.00 657.42 4,931.60 4,400.00 531.60 6,600.00 1,668.40 0.0%6709220 Freight/Delivery101.52 50.00 51.52 578.10 400.00 178.10 600.00 21.90 3.7%6709490 Miscellaneous - 100.00 (100.00) 438.83 800.00 (361.17) 1,200.00 761.17 63.4%6709620 Postage/Mail Services - 75.00 (75.00) 618.90 600.00 18.90 900.00 281.10 31.2%6709625 Professional Fees- 400.00 (400.00) 3,305.00 3,200.00 105.00 4,800.00 1,495.00 31.1%6709636 Promotion/Entertainment- 100.00 (100.00) - 800.00 (800.00) 1,200.00 1,200.00 100.0%6709722 Seminars & Training- - - 925.00 500.00 425.00 900.00 (25.00) -2.8%6709810 Travel - 100.00 (100.00) 120.99 200.00 (79.01) 1,100.00 979.01 89.0%6709820 Uniforms - 75.00 (75.00) 293.31 750.00 (456.69) 1,050.00 756.69 72.1%Total-G&A-OTHER EXPENSES 2,356.24 2,650.00 (293.76) 22,170.11 22,900.00 (729.89) 34,450.00 12,354.89 35.9%Total-GENERAL & ADMINISTRATIVE23,683.20 25,902.00 (2,218.80) 191,530.82 207,116.00 (15,585.18) 311,576.00 120,120.18 38.6%Month to Date Year to DateSilverRock ResortGeneral & Administrative Expense StatementFebruary 2007Annual Budget9 FebruaryFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense68-LEASES6800192 Equipment Leases-Carts 8,685.32 9,800.00 (1,114.68) 73,415.50 78,400.00 (4,984.50) 117,600.00 44,184.50 37.6%6800193 Equipment Leases-Course Maint 20,628.68 20,000.00 628.68 165,421.89 160,000.00 5,421.89 240,000.00 74,578.11 31.1%6800194 Equipment Leases-Trailer 599.27 600.00 (0.73) 5,801.96 4,800.00 1,001.96 7,200.00 1,398.04 19.4%6800195 Equipment Leases-Software 1,762.93 1,525.00 237.93 10,780.51 12,200.00 (1,419.49) 18,300.00 7,519.49 41.1%6800196 Equipment Leases-GPS 7,370.25 7,400.00 (29.75) 53,901.23 59,200.00 (5,298.77) 88,800.00 34,898.77 39.3%Total-LEASES39,046.45 39,325.00 (278.55) 309,321.09 314,600.00 (5,278.91) 471,900.00 162,578.91 34.5%69-MISC OTHER EXPENSES6900096 Contract Srvcs-Management Fee (4,250.01) 1,165.00 (5,415.01) 70,815.18 93,323.00 (22,507.82) 125,196.00 54,380.82 43.4%6900210 FF&E Reserve 9,244.27 9,742.00 (497.73) 34,618.44 38,245.00 (3,626.56) 67,426.00 32,807.56 48.7%6900211 Personal Property Taxes20,000.00 20,000.00 100.0%6900323 Insurance-Commercial 4,200.00 4,200.00 - 44,523.40 33,600.00 10,923.40 50,400.00 5,876.60 11.7%Total-MISC OTHER EXPENSES9,194.26 15,107.00 (5,912.74) 149,957.02 165,168.00 (15,210.98) 263,022.00 113,064.98 43.0%Month to Date Year to Date Operating Leases & Miscellaneous Other Expense StatementFebruary 2007Annual Budget10 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 12Sales00Promotion30Golf Industry84VIP00Celebrity00PGA Comp43 16Charity/Gift Certificate68Rain/Wind Checks98Club Staff89 40LQ HS Golf036189124000011 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report‐2006‐2007Feb‐072/4/2007 11:45 Chang-Sports writer Southland Golf 4 Media2/7/2007 8:30 Sutcher- w/ Golf Digest (Rater) 2 Media2/10/2007 7:30 Pilgrim- w/ Westin Hotel GM and Sales Mgrs. 4 Golf Ind2/12/2007 7:30 Ward-w/Golf Week Course Rater 2 Media2/15/2007 8:22 Long-CBS Anchor 4 Media2/25/2007 11:00 White-Golf Digest Rater 2 Media12