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11 May 2007 SilverRock Resort - Monthly Financial Statement
Monthly Financial Statements July 2006 – May 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 MayFinal Budget Variance Percentages Unfavorable (-) Favorable (+) Final Budget Variance Annual Budget Unemcumb. % Bdgt Income400000 Golf Green Fee Revenue 272,504.81 236,091.00 36,413.81 15.4% 2,980,029.07 2,816,732.00 163,297.07 2,985,870.00 5,840.93 100%401000 Miscellaneous Golf Revenue 7,663.00 3,518.00 4,145.00 117.8% 101,357.87 58,663.00 42,694.87 62,181.00 (39,176.87) 163%410000 Revenue-Golf Shop 27,019.89 23,451.00 3,568.89 15.2% 289,710.89 294,450.00 (4,739.11) 311,248.00 21,537.11 93%420000 Revenue-F&B Concession 500.00 500.00 - 0.0% 11,500.00 11,500.00 - 12,000.00 500.00 96%890000 Interest Income 31.14 - 31.14 0.0% 268.32 - 268.32 - (268.32) Total Income 307,718.84 263,560.00 44,158.84 16.8% 3,382,866.15 3,181,345.00 201,521.15 3,371,299.00 (11,567.15) 100%Cost of Goods Sold510000 COS-Golf Shop 16,760.35 13,601.58 3,158.77 -23.2% 149,933.74 170,781.00 20,847.26 180,513.00 30,579.26 83%Total COS 16,760.35 13,601.58 3,158.77 -23.2% 149,933.74 170,781.00 20,847.26 180,513.00 30,579.26 83%Gross Profit 290,958.49 249,958.42 41,000.07 16.4% 3,232,932.41 3,010,564.00 222,368.41 3,190,786.00 (42,146.41) 101%610000 Golf Pro Shop 20,294.60 20,764.00 469.40 2.3% 194,142.12 194,041.00 (101.12) 211,697.00 17,554.88 92%630000 Course Maintenance 147,155.65 138,074.00 (9,081.65) -6.6% 1,627,821.76 1,598,877.00 (28,944.76) 1,739,809.00 111,987.24 94%640000 Outside Services 32,847.08 25,909.00 (6,938.08) -26.8% 242,613.44 268,365.00 25,751.56 291,576.00 48,962.56 83%650000 Clubhouse 18,766.51 16,968.00 (1,798.51) -10.6% 171,455.28 180,331.00 8,875.72 197,095.00 25,639.72 87%660000 Marketing 23,331.42 26,506.00 3,174.58 12.0% 305,595.42 317,472.00 11,876.58 341,478.00 35,882.58 89%670000 General & Administrative 22,511.60 26,852.00 4,340.40 16.2% 261,339.79 285,672.00 24,332.21 311,576.00 50,236.21 84%680000 Leases 40,854.26 39,325.00 (1,529.26) -3.9% 400,137.50 432,575.00 32,437.50 471,900.00 71,762.50 85%690000 Miscellaneous Other Expense 8,819.09 24,304.00 15,484.91 63.7% 161,138.39 236,771.00 75,632.61 263,021.00 101,882.61 61%Total Expenses 314,580.21 318,702.00 4,121.79 1.3% 3,364,243.70 3,514,104.00 149,860.30 3,828,152.00 463,908.30 88%Net Income(23,621.72) (68,743.58) 45,121.86 65.6%(131,311.29) (503,540.00) 372,228.71 (637,366.00) (506,054.71) 21%Rounds of Golf PlayedPaid Rounds Played 3,916 3,350 566 16.9% 38,430 36,820 1,610 39,220 790 98%Ave $ Per Paid Round Green Fee 69.59 70.47 (0.89) -1.3% 77.54 76.50 1.04 76.13 (1.41) 102%Ave $ Per Paid Round Merchandise 6.90 7.00 (0.10) -1.4% 7.54 8.00 (0.46) 7.94 0.40 95%Ave $ Per Paid Miscellaneous 1.96 1.05 0.91 86.3% 2.64 1.59 1.04 1.59 - 0%May 2007SilverRock ResortSummary Operating Income Statement1 Income MayFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4000000 Revenue-Fees 272,504.81 236,091.00 36,413.81 2,980,029.07 2,816,732.00 163,297.07 2,985,870.005,840.93100%4010000 Rider Fee 750.00 - 750.00 6,318.92 - 6,318.92 0.000.000%4040000 Club Rental 1,225.00 1,005.00 220.00 19,585.00 11,047.00 8,538.00 11,766.00-7,819.00166%4050000 Driving Range 3,753.00 2,513.00 1,240.00 45,284.00 27,616.00 17,668.00 29,415.00-15,869.00154%4060000 Handicap Fees 235.00 - 235.00 5,675.00 8,000.00 (2,325.00) 8,000.00 2,325.0071%4080000 GPS Advertising 1,200.00 - 1,200.00 14,600.00 8,000.00 6,600.00 9,000.00 -5,600.00162%4090000 Ball Retriever/Subcontract - - - 2,494.95 4,000.00 (1,505.05) 4,000.00 4,000.00 0%4091000 Golf Professional Rental Fee 500.00 - 500.00 7,400.00 - 7,400.00 - - 0% Total Revenue Fees 280,167.81 239,609.00 40,558.81 3,081,386.94 2,875,395.00 205,991.94 3,048,051.00 (17,122.07) 101%Total Income280,167.81 239,609.00 40,558.81 3,081,386.94 2,875,395.00 205,991.94 3,048,051.00 (17,122.07) 101%SilverRock ResortStatement of Fees RevenueMay 2007Month to Date Year to Date Annual Budget2 Income MayFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4100000 Sales Miscellaneous 2,496.25 - 2,496.25 18,304.91 - 18,304.91 4100110 Sales Hard Goods 8,698.62 8,208.00 490.62 92,405.58 103,058.00 (10,652.42) 108,937.00 16,531.42 85%4100112 Sales-Soft Goods 19,667.96 15,243.00 4,424.96 202,700.04 191,392.00 11,308.04 202,311.00 (389.04) 100%5100639 GS-Discounts-Mdse (3,842.94) - (3,842.94) (23,699.64) - (23,699.64) (9,353.00) 14,346.64 -253% Total Revenue Golf Shop 27,019.89 23,451.00 3,568.89 289,710.89 294,450.00 (4,739.11) 301,895.00 30,489.02 90%COS 5100150 COS-GS-Hard Goods 3,043.76 4,760.64 (1,716.88) 51,788.00 59,773.64 (7,985.64) 63,183.46 11,395.46 82%5100151 COS-GS-Soft Goods 13,716.59 8,840.94 4,875.65 98,145.74 111,007.36 (12,861.62) 107,977.38 9,831.64 91%Cost of Sales - Golf Shop 16,760.35 13,601.58 3,158.77 149,933.74 170,781.00 (20,847.26) 171,160.84 21,227.10 88%Gross Profit 10,259.54 9,849.42 410.12 139,777.15 123,669.00 16,108.15 130,734.16 9,261.92 93%COS % 62.0% 58.0% -4.0% 51.8% 58.0% 6.2% 61.0% 69.6% -14%Expense61-PS-SALARIES & BENEFITS6101175 Employee Meals 360.00 360.00 - 3,631.44 3,660.00 (28.56) 3,960.00 328.56 92%6101320 Insurance Group 2,764.87 3,000.00 (235.13) 30,527.90 28,320.00 2,207.90 31,320.00 792.10 97%6101325 Insurance-Workers Comp 322.03 1,230.00 (907.97) 7,212.00 12,202.00 (4,990.00) 13,313.00 6,101.00 54%6101720 Salaries 2,586.00 3,333.00 (747.00) 40,553.88 36,663.00 3,890.88 39,992.00 (561.88) 101%6101800 Taxes-Employer Payroll 1,620.72 1,531.00 89.72 13,385.28 15,190.00 (1,804.72) 16,575.00 3,189.72 81%6101880 Wages-Hourly 9,007.52 8,965.00 42.52 74,726.01 85,351.00 (10,624.99) 93,138.00 18,411.99 80%6101882 Wages-Overtime 254.48 - 254.48 1,586.84 - 1,586.84 - 952.88 0%Total -PS-SALARIES & BENEFITS 16,915.62 18,419.00 (1,503.38) 171,623.35 181,386.00 (9,762.65) 198,298.00 29,214.37 85%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 6.45 45.00 (38.55) 2,395.91 1,480.00 915.91 1,525.00 (870.91) 157%6109090 Contract Services 500.00 500.00 - 4,500.00 5,500.00 (1,000.00) 6,000.00 1,500.00 75%6109197 Equipment Rental - - - 1,593.00 - 1,593.00 - (1,593.00) 0%6109220 Freight & Delivery 219.65 - 219.65 1,447.06 75.00 1,372.06 75.00 (1,372.06) 1929%6109490 Miscellaneous 135.34 50.00 85.34 1,488.49 400.00 1,088.49 450.00 (1,038.49) 331%6109150 Dues and Subscriptions 27.94 1,500.00 (1,472.06) 1,014.87 1,500.00 (485.13) 1,500.00 485.13 68%6109500 ProShop-Over/Short 40.71 - 40.71 144.76 - 144.76 - (144.76) 0%6109722 Seminars/Training 1,910.00 35.00 1,875.00 5,420.00 1,925.00 3,495.00 1,960.00 (3,460.00) 277%6109810 Travel - Merchandise - 15.00 (15.00) 44.62 75.00 (30.38) 90.00 45.38 50%6109820 Uniforms 441.45 200.00 241.45 2,410.16 1,700.00 710.16 1,800.00 (610.16) 134%6117840 Telephones 97.44 - 97.44 1,030.00 - 1,030.00 - (1,030.00) 0%6119206 License and Permits - - - - - - - - 0%Total PS-OTHER EXPENSES 3,378.98 2,345.00 1,033.98 21,488.87 12,655.00 8,833.87 13,400.00 (8,088.87) 160%Total Expenses 20,294.60 20,764.00 (469.40) 194,142.12 194,041.00 101.12 211,698.00 21,125.50 90%Net Income(10,035.06) (10,914.58) 879.52 (54,364.97) (70,372.00) 16,007.03 (80,963.84) (11,863.58) -85%Month to Date Year to Date Annual BudgetSilverRock ResortGolf Shop Income StatementMay 20073 MayFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense63-CM-SALARIES & BENEFITS6311175 Employee Meals 240.00 240.00 - 2,640.00 2,640.00 - 2,880.00 240.00 8.3%6311320 Insurance-Group 10,614.44 5,880.00 4,734.44 123,360.72 64,680.00 58,680.72 70,560.00 (52,800.72) -74.8%6311325 Insurance-Workers Comp 5,777.10 5,691.00 86.10 50,693.28 64,797.00 (14,103.72) 70,971.00 20,277.72 28.6%6311720 Salaries 11,038.48 11,750.00 (711.52) 123,307.84 129,234.00 (5,926.16) 141,000.00 17,692.16 12.5%6311800 Taxes-Employer Payroll 5,872.48 7,085.00 (1,212.52) 64,000.73 81,206.00 (17,205.27) 89,006.00 25,005.27 28.1%6311880 Wages-Hourly 45,341.93 45,156.00 185.93 511,490.06 510,132.00 1,358.06 558,230.00 46,739.94 8.4%6311882 Wages-Overtime 2,390.58 - 2,390.58 31,952.21 12,859.00 19,093.21 15,679.00 (16,273.21) -103.8%Total-CM-SALARIES & BENEFITS81,275.01 75,802.00 5,473.01 907,444.84 865,548.00 41,896.84 948,326.00 40,881.16 4.3%63-CM-SUPPLIES & MATERIALS6313734 Chemicals 646.61 - 646.61 27,273.20 - 27,273.20 (27,273.20) 0.0%6313744 Fertilizer 11,256.72 3,850.00 7,406.72 85,722.19 49,800.00 35,922.19 54,650.00 (31,072.19) -56.9%6313746 Flowers/Plants 3,394.04 - 3,394.04 3,394.04 3,500.00 (105.96) 3,500.00 105.96 3.0%6313748 Fuel-Gasoline 2,413.60 2,500.00 (86.40) 38,883.48 38,400.00 483.48 40,900.00 2,016.52 4.9%6313750 Golf Course Accessories 820.59 100.00 720.59 9,916.71 4,100.00 5,816.71 4,200.00 (5,716.71) -136.1%6313756 POA Control - - - 1,093.36 6,000.00 (4,906.64) 6,000.00 4,906.64 81.8%6313758 Miscellaneous Supp 628.86 100.00 528.86 5,246.77 1,100.00 4,146.77 1,200.00 (4,046.77) -337.2%6313766 Pesticides 3,185.00 900.00 2,285.00 16,154.87 14,500.00 1,654.87 14,900.00 (1,254.87) -8.4%6313762 Supplies-Office - - - 1,434.48 - 1,434.48 - (1,434.48) 0.0%6313774 Sand - 100.00 (100.00) 7,839.24 6,560.00 1,279.24 16,660.00 8,820.76 52.9%6313775 Sand-Bunkers - - - 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 84,400.00 19,676.29 84,750.00 (19,326.29) -22.8%6313778 Small Tools & Non-Capital Equip - 100.00 (100.00) 2,904.51 6,400.00 (3,495.49) 6,500.00 3,595.49 55.3%6313780 Sod 409.10 500.00 (90.90) 4,283.92 4,750.00 (466.08) 5,750.00 1,466.08 25.5%6313782 Topdressing - 1,300.00 (1,300.00) 2,776.92 2,600.00 176.92 3,900.00 1,123.08 28.8%Total-CM-SUPPLIES & MATERIALS22,754.52 9,800.00 12,954.52 319,240.37 232,110.00 87,130.37 252,910.00 (66,330.37) -26.2%63-CM-REPAIRS & MAINTENANCE6315095 CM-R&M-Contract Lake Maint 1,500.00 1,500.00 - 8,306.22 12,500.00 (4,193.78) 14,000.00 5,693.78 40.7%6315685 CM-R&M-Bldngs & Othr Structures 114.50 - 114.50 1,544.21 500.00 1,044.21 500.00 (1,044.21) -208.8%6315686 CM-R&M- Drainage - - - 5,083.39 - 5,083.39 - (5,083.39) 0.0%6315690 CM-R&M-Equipment 3,799.89 700.00 3,099.89 41,319.86 13,700.00 27,619.86 14,400.00 (26,919.86) -186.9%6315692 CM-R&M-Irrigation System 942.37 550.00 392.37 15,610.27 7,900.00 7,710.27 8,450.00 (7,160.27) -84.7%6315696 CM-R&M-Pumps - 1,000.00 (1,000.00) 6,904.82 5,000.00 1,904.82 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 6,356.76 3,750.00 2,606.76 82,594.97 43,600.00 38,994.97 46,350.00 (36,244.97) -78.2%63-CM-UTILTIES6317830 Utilities-Electricity-Bldngs - 2,175.00 (2,175.00) 17,885.16 19,720.00 (1,834.84) 22,080.00 4,194.84 19.0%6317836 Utilities-Natural Gas/LPG - - - 257.02 - 257.02 - (257.02) 0.0%6317840 Telephones 883.62 350.00 533.62 9,087.79 3,850.00 5,237.79 4,200.00 (4,887.79) -116.4%Total-CM-UTILITIES 883.62 2,525.00 (1,641.38) 27,229.97 23,570.00 3,659.97 26,280.00 (949.97) -3.6%63-CM-OTHER EXPENSES6319020 Auto Mileage/Allowance 500.00 500.00 - 5,500.00 5,500.00 - 6,000.00 500.00 8.3%6319099 Contract Svcs-Security - - - 280.00 - 280.00 - (280.00) 0.0%6319100 Contract Svcs-Soil/Tissue Test - 2,000.00 (2,000.00) 38.76 4,000.00 (3,961.24) 4,000.00 3,961.24 99.0%6319101 Contract Svcs-Trash Removal 2,334.43 400.00 1,934.43 16,824.30 4,400.00 12,424.30 18,800.00 1,975.70 10.5%6319102 Greens-Waste Removal - 300.00 (300.00) 10,714.52 13,700.00 (2,985.48) 14,000.00 3,285.48 23.5%6319150 Dues & Subscriptions 440.00 - 440.00 458.00 800.00 (342.00) 900.00 442.00 49.1%6319170 Employee Education 250.00 50.00 200.00 500.00 550.00 (50.00) 600.00 100.00 16.7%6319197 Equipment Rental - 200.00 (200.00) 1,364.15 4,100.00 (2,735.85) 4,200.00 2,835.85 67.5%6319206 Licenses & Permits - - - 2,513.01 1,800.00 713.01 1,800.00 (713.01) -39.6%6319490 Miscellaneous 110.00 100.00 10.00 2,055.61 1,100.00 955.61 1,200.00 (855.61) -71.3%6319500 Propane/Natural Gas - 150.00 (150.00) - 1,650.00 (1,650.00) 1,800.00 1,800.00 100.0%6319718 Safety Equipment & Training 91.47 100.00 (8.53) 6,216.89 3,300.00 2,916.89 3,400.00 (2,816.89) -82.8%6319822 Uniforms 883.84 720.00 163.84 7,494.29 8,670.00 (1,175.71) 9,390.00 1,895.71 20.2%Total-CM-OTHER EXPENSES 4,609.74 4,520.00 89.74 53,959.53 49,570.00 4,389.53 66,090.00 12,130.47 18.4%Month to Date Year to DateSilverRock ResortCourse Maintenance Expense StatementMay 2007Annual Budget4 MayFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget632-CM-LANDSCAPE MAINTENANCE632-CM-LM-SALARIES & BENEFITS6321320 Insurance-Group 1,104.00 1,104.00 - 13,096.63 12,144.00 952.63 13,248.00 151.37 0.0%6321325 Insurance-Workers Comp 1,328.79 1,314.00 14.79 8,042.45 14,819.00 (6,776.55) 16,194.00 8,151.55 50.3%6321800 Taxes-Employer Payroll 879.00 1,636.00 (757.00) 10,298.46 18,675.00 (8,376.54) 20,426.00 10,127.54 49.6%6321880 Wages-Hourly 18,280.00 13,141.00 5,139.00 110,529.84 144,551.00 (34,021.16) 157,692.00 47,162.16 29.9%6321882 Wages-Overtime 146.83 - 146.83 5,208.09 5,460.00 (251.91) 6,370.00 1,161.91 18.2%Total-CM-LM-SALARIES & BENEFITS21,738.62 17,195.00 4,543.62 147,175.47 195,649.00 (48,473.53) 213,930.00 66,603.16 31.1%632-CM-LM-SUPPLIES & MATERIALS6323778 Small Tools - 75.00 (75.00) 5,258.12 950.00 4,308.12 1,025.00 (4,233.12) -413.0%6323788 Uniforms 410.60 240.00 170.60 3,731.51 2,640.00 1,091.51 2,880.00 (851.51) -29.6%Total-CM-LM-SUPPLIES & MATERIALS410.60 315.00 95.60 8,989.63 3,590.00 5,399.63 3,905.00 (5,084.63) -130.2%632-CM-LM-REPAIRS & MAINTENANCE6325687 CM-LM-R&M-Drip Irrigation - 250.00 (250.00) 3,646.62 3,750.00 (103.38) 4,250.00 603.38 14.2%Total-CM-LM-REPAIRS & MAINTENANCE - 250.00 (250.00) 3,646.62 3,750.00 (103.38) 4,250.00 603.38 14.2%632-CM-WATER & ENERGY6337834 Utilities-Electricity-Pumping 6,985.70 22,258.00 (15,272.30) 63,979.90 165,178.00 (101,198.10) 183,642.00 119,662.10 65.2%6337842 Utilities-Water2,141.08 1,659.00 482.08 13,560.46 16,312.00 (2,751.54) 18,126.00 4,565.54 25.2%Total-CM-WATER & ENERGY9,126.78 23,917.00 (14,790.22) 77,540.36 181,490.00 (103,949.64) 201,768.00 124,227.64 61.6%147,155.65 138,074.00 9,081.65 1,627,821.76 1,598,877.00 28,944.76 1,763,809.00 135,835.87 7.7%Silverrock ResortCourse Maintenance Expense StatementMay 2007Annual BudgetTotal -COURSE MAINTENANCEMonth to Date Year to Date5 MayFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense641-CBR-SALARIES & BENEFITS6411175 Employee Meals 540.00 540.00 - 5,640.00 5,760.00 (120.00) 6,240.00 600.00 9.6%6411320 Insurance-Group 61.77 720.00 (658.23) 5,296.34 7,920.00 (2,623.66) 8,640.00 3,343.66 38.7%6411325 Insurance-Workers Comp 1,083.69 1,592.00 (508.31) 6,734.14 15,498.00 (8,763.86) 16,944.00 10,209.86 60.3%6411800 Taxes-Employer Payroll 1,438.08 1,380.00 58.08 11,464.77 13,439.00 (1,974.23) 14,690.00 3,225.23 22.0%6411880 Wages-Hourly 10,651.20 11,087.00 (435.80) 91,737.32 107,945.00 (16,207.68) 117,992.00 26,254.68 22.3%6411882 Wages-Overtime 185.70 - 185.70 1,602.80 - 1,602.80 - (1,602.80) 0.0%Total-CBR-SALARIES & BENEFITS13,960.44 15,319.00 (1,358.56) 122,475.37 150,562.00 (28,086.63) 164,506.00 42,030.63 25.5%641-CBR-SUPPLIES & MATERIALS6413732 Supplies-Carts 1,338.01 50.00 1,288.01 2,389.32 2,300.00 89.32 2,350.00 (39.32) -1.7%6413742 Supplies-Expendable 566.47 500.00 66.47 7,383.45 7,050.00 333.45 7,550.00 166.55 2.2%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) 1,017.37 475.00 542.37 525.00 (492.37) -93.8%6413768 Supplies-Printing and Stationary - 70.00 (70.00) 95.60 350.00 (254.40) 420.00 324.40 77.2%6413786 Supplies-Towels 773.58 72.00 701.58 7,184.12 2,220.00 4,964.12 2,292.00 (4,892.12) -213.4%6413796 Supplies-Bottled Water4,868.90 2,529.00 2,339.90 23,949.55 20,622.00 3,327.55 22,631.00 (1,318.55) -5.8%Total-CBR-SUPPLIES & MATERIALS7,546.96 3,271.00 4,275.96 47,269.41 39,017.00 8,252.41 41,768.00 (5,501.41) -13.2%641-CBR-REPAIRS & MAINTENANCE6415096 CBR-R&M-Contract Services-Carts 1,440.00 720.00 720.00 7,920.00 7,920.00 - 8,640.00 720.00 8.3%6415690 CBR-R&M-Equipment 1,101.21 125.00 976.21 7,089.36 1,375.00 5,714.36 1,500.00 (5,589.36) -372.6%6415695 CBR-R&M-Cart Maintenance & Repair - 250.00 (250.00) 2,845.82 2,750.00 95.82 3,000.00 154.18 5.1%Total-CBR-REPAIRS & MAINTENANCE 2,541.21 1,095.00 1,446.21 17,855.18 12,045.00 5,810.18 13,140.00 (4,715.18) -35.9%641-CBR-OTHER EXPENSES6419093 Contract Services-Handicaps 260.00 200.00 60.00 2,943.00 4,800.00 (1,857.00) 5,000.00 2,057.00 41.1%6419094 Contract Services-Laundry/Linen 187.81 75.00 112.81 354.56 1,615.00 (1,260.44) 1,690.00 1,335.44 79.0%6419220 Freight/Delivery - 75.00 (75.00) 122.17 825.00 (702.83) 900.00 777.83 86.4%6419490 Miscellaneous - 125.00 (125.00) 221.05 1,025.00 (803.95) 1,150.00 928.95 80.8%6419820 Uniforms 1,646.15 1,000.00 646.15 4,522.51 4,425.00 97.51 4,625.00 102.49 2.2%Total-CBR-OTHER EXPENSES 2,093.96 1,475.00 618.96 8,163.29 12,690.00 (4,526.71) 13,365.00 5,201.71 38.9%TOTAL-CARTS,BAGROOM & RANGE 26,142.57 21,160.00 4,982.57 195,763.25 214,314.00 (18,550.75) 232,779.00 37,015.75 15.9%643-CS-SALARIES & BENEFITS6431175 Employee Meals 240.00 240.00 - 2,820.00 2,880.00 (60.00) 3,120.00 300.00 9.6%6431320 Insurance-Group - - - - - - - - 0.0%6431325 Insurance-Workers Comp 468.39 352.00 116.39 2,976.79 3,911.00 (934.21) 4,261.00 1,284.21 30.1%6431800 Taxes-Employer Payroll 597.21 438.00 159.21 3,993.60 4,869.00 (875.40) 5,305.00 1,311.40 24.7%6431880 Wages-Hourly 4,593.77 3,519.00 1,074.77 32,098.10 39,091.00 (6,992.90) 42,611.00 10,512.90 24.7%6431882 Wages-Overtime 90.06 - 90.06 406.99 - 406.99 - (406.99) 0.0%Total-CS-SALARIES & BENEFITS5,989.43 4,549.00 1,440.43 42,295.48 50,751.00 (8,455.52) 55,297.00 13,001.52 23.5%643-CS-OTHER EXPENSES6433742 Supplies Expendable 36.76 75.00 (38.24) 2,533.17 975.00 1,558.17 1,050.00 (1,483.17) -141.3%6439490 Miscellaneous - - - - 200.00 (200.00) 200.00 200.00 100.0%6439718 Safety Equipment & Training - 50.00 (50.00) - 550.00 (550.00) 600.00 600.00 100.0%6439820 Uniforms 678.32 75.00 603.32 2,021.54 1,575.00 446.54 1,650.00 (371.54) -22.5%Total-CS-OTHER EXPENSES 715.08 200.00 515.08 4,554.71 3,300.00 1,254.71 3,500.00 (1,054.71) -30.1%Total-COURSE SERVICES 6,704.51 4,749.00 1,955.51 46,850.19 54,051.00 (7,200.81) 58,797.00 11,946.81 20.3%TOTAL OUTSIDE SERVICES32,847.08 25,909.00 6,938.08 242,613.44 268,365.00 (25,751.56) 291,576.00 50,017.27 17.2%Month to Date Year to DateSilverRock ResortOutside Services Expense StatementMay 2007Annual Budget6 MayFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense65-CH-SUPPLIES & MATERIALS6503742 Supplies-Expendable403.70 400.00 3.70 5,207.31 4,400.00 807.31 4,800.00 (407.31) -8.5%Total-CH-SUPPLIES & MATERIALS 403.70 400.00 3.70 5,207.31 4,400.00 807.31 4,800.00 (407.31) -8.5%65-CH-UTILITIES6507830 Utilities-Electric-Bldgs- 4,226.00 (4,226.00) 7,375.00 38,769.00 (31,394.00) 42,795.00 35,420.00 82.8%6507836 Utilities-Natural Gas420.57 200.00 220.57 4,800.01 2,200.00 2,600.01 2,400.00 (2,400.01) -100.0%6507838 Utilities-Sewer- 200.00 (200.00) - 2,200.00 (2,200.00) 2,400.00 2,400.00 100.0%6507840 Utilities-Telephone250.49 675.00 (424.51) 11,666.75 7,425.00 4,241.75 8,100.00 (3,566.75) -44.0%6507842 Utilities-Water155.60 200.00 (44.40) 1,642.70 2,200.00 (557.30) 2,400.00 757.30 31.6%6507844 Utilities-Cable289.18 317.00 (27.82) 3,086.12 3,487.00 (400.88) 3,800.00 713.88 0.0%Total-CH-UTILITIES 1,115.84 5,818.00 (4,702.16) 28,570.58 56,281.00 (27,710.42) 61,895.00 33,324.42 53.8%65-CH-OTHER EXPENSES6509091 Contract Services-Cleaning1,825.00 1,750.00 75.00 18,967.50 19,250.00 (282.50) 21,000.00 2,032.50 9.7%6509098 Contract Services-Refuse Dispose856.72 400.00 456.72 6,193.78 4,400.00 1,793.78 4,800.00 (1,393.78) -29.0%6509099 Contract Services-Security7,650.08 7,800.00 (149.92) 95,760.08 85,800.00 9,960.08 93,600.00 (2,160.08) -2.3%6509215 Flowers & Decorations- 100.00 (100.00) 627.81 2,500.00 (1,872.19) 2,600.00 1,972.19 75.9%6509490 Miscellaneous5,694.07 - 5,694.07 6,232.74 - 6,232.74 - (6,232.74) 0.0%6509718 Safety Equipment & Training250.00 100.00 150.00 250.00 1,100.00 (850.00) 1,200.00 950.00 79.2%Total-CH-OTHER EXPENSES 16,275.87 10,150.00 6,125.87 128,031.91 113,050.00 14,981.91 123,200.00 (4,831.91) -3.9%65-CH-REPAIRS & MAINTENANCE6515685 CH-R&M-Building Structures- 200.00 (200.00) 3,128.92 2,200.00 928.92 2,400.00 (728.92) -30.4%6515686 CH-R&M-Restaurant Repairs- 200.00 (200.00) 280.18 2,200.00 (1,919.82) 2,400.00 2,119.82 88.3%6515690 CH-R&M-Equipment Repair971.10 200.00 771.10 6,236.38 2,200.00 4,036.38 2,400.00 (3,836.38) -159.8%Total-CH-REPAIRS & MAINTENANCE 971.10 600.00 371.10 9,645.48 6,600.00 3,045.48 7,200.00 (2,445.48) -34.0%Total CLUBHOUSE18,766.51 16,968.00 1,798.51 171,455.28 180,331.00 (8,875.72) 197,095.00 (4,890.96) -2.5%Month to Date Year to DateSilverRock ResortClubhouse Expense StatementMay 2007Annual Budget7 MayFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense66-MKT-SALARIES & BENEFITS6601175 Employee Meals - 60.00 (60.00) 240.00 660.00 (420.00) 720.00 480.00 66.7%6601320 Insurance-Group - 150.00 (150.00) 306.21 1,650.00 (1,343.79) 1,800.00 1,493.79 83.0%6601325 Insurance-Workers Comp 256.79 317.00 (60.21) 2,047.78 3,487.00 (1,439.22) 3,800.00 1,752.22 46.1%6601720 Salaries 2,567.90 3,167.00 (599.10) 24,091.61 34,837.00 (10,745.39) 38,004.00 13,912.39 36.6%6601800 Taxes-Employer Payroll - 394.00 (394.00) 1,630.00 4,334.00 (2,704.00) 4,731.00 3,101.00 65.5%Total-MKT-SALARIES & BENEFITS 2,824.69 4,088.00 (1,263.31) 28,315.60 44,968.00 (16,652.40) 49,055.00 20,739.40 42.3%66-MKT-SUPPLIES & MATERIALS6603080 Collateral Material - 1,000.00 (1,000.00) 3,496.15 8,500.00 (5,003.85) - (3,496.15) 0.0%6603762 Supplies-Office - 100.00 (100.00) 477.95 1,100.00 (622.05) 1,200.00 722.05 60.2%6603768 Supplies-Printing & Stationery - 125.00 (125.00) 593.01 4,300.00 (3,706.99) 4,425.00 3,831.99 86.6%- 1,225.00 (1,225.00) 4,567.11 13,900.00 (9,332.89) 5,625.00 1,057.89 18.8%66-MKT-UTILITIES6607840 Utilities-Telephone 65.43 100.00 (34.57) 869.84 1,100.00 (230.16) 1,200.00 330.16 27.5%Total-MKT-UTILITIES 65.43 100.00 (34.57) 869.84 1,100.00 (230.16) 1,200.00 330.16 27.5%66-MKT-OTHER EXPENSES6609010 Advertising 20,302.09 20,668.00 (365.91) 264,967.01 249,569.00 15,398.01 175,290.00 (89,677.01) -51.2%6609040 Business Meals 40.21 25.00 15.21 214.46 275.00 (60.54) 300.00 85.54 28.5%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) 990.00 1,925.00 (935.00) 2,100.00 1,110.00 52.9%6609490 Miscellaneous - 50.00 (50.00) 303.28 350.00 (46.72) 350.00 46.72 13.3%6609620 Postage - 50.00 (50.00) 362.22 550.00 (187.78) 600.00 237.78 39.6%6609630 Promotion - 50.00 (50.00) 503.44 650.00 (146.56) - (503.44) 0.0%6609633 Promotion-Community - 75.00 (75.00) 128.31 2,850.00 (2,721.69) 2,925.00 2,796.69 95.6%6609634 Promotion-Media/Vender - - - - - - 700.00 - 0.0%6609150 Dues and Subscriptions - - - 1,122.00 735.00 387.00 735.00 (387.00) 0.0%6609820 Uniforms - - - 329.94 600.00 (270.06) 600.00 270.06 45.0%Total-MKT-OTHER EXPENSES 20,441.30 21,093.00 (651.70) 271,842.87 257,504.00 14,338.87 192,600.00 (79,942.87) -41.5%Total-MARKETING23,331.42 26,506.00 (3,174.58) 305,595.42 317,472.00 (11,876.58) 248,480.00 (57,815.42) -23.3%Month to Date Year to DateSilverRock ResortMarketing Expense StatementMay 2007Annual Budget8 MayFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense67-G&A-SALARIES & BENEFITS6701175 Employee Meals 180.00 180.00 - 1,980.00 1,980.00 - 2,160.00 180.00 8.3%6701320 Insurance-Group1,696.92 2,280.00 (583.08) 18,172.75 25,080.00 (6,907.25) 27,360.00 9,187.25 33.6%6701325 Insurance-Workers Comp1,491.45 1,598.00 (106.55) 13,770.72 17,578.00 (3,807.28) 19,176.00 5,405.28 28.2%6701720 Salaries 12,434.40 13,250.00 (815.60) 144,269.30 145,750.00 (1,480.70) 159,000.00 14,730.70 9.3%6701800 Taxes-Employer Payroll 1,140.96 1,989.00 (848.04) 13,836.09 21,879.00 (8,042.91) 23,874.00 10,037.91 42.0%6701880 Wages-Hourly2,480.08 2,730.00 (249.92) 30,516.62 30,030.00 486.62 32,756.00 2,239.38 6.8%6701882 Wages-Overtime - - - 418.50 - 418.50 - (418.50) 0.0%Total-G&A-SALARIES & BENEFITS 19,423.81 22,027.00 (2,603.19) 222,963.98 242,297.00 (19,333.02) 264,326.00 41,362.02 15.6%67-G&A-SUPPLIES & MATERIALS6703740 Supplies-Computer- 500.00 (500.00) 3,032.28 5,500.00 (2,467.72) 6,000.00 2,967.72 49.5%6703762 Supplies-Office - 125.00 (125.00) 1,458.52 1,375.00 83.52 1,500.00 41.48 2.8%6703768 Supplies-Printing & Stationery157.30 400.00 (242.70) 1,534.57 2,800.00 (1,265.43) 3,200.00 1,665.43 52.0%6703778Supplies-Small Tools/Non-Capital - 100.00 (100.00) - 900.00 (900.00) 900.00 900.00 100.0%Total-G&A-SUPPLIES & MATERIALS 157.30 1,125.00 (967.70) 6,025.37 10,575.00 (4,549.63) 11,600.00 5,574.63 48.1%67-G&A-REPAIRS & MAINTENANCE6705690 Repairs & Maintenance-Equipment- 100.00 (100.00) 1,742.50 1,100.00 642.50 1,200.00 (542.50) -45.2%Total-G&A-REPAIRS & MAINTENANCE - 100.00 (100.00) 1,742.50 1,100.00 642.50 1,200.00 (542.50) -45.2%67-G&A-OTHER EXPENSES6709020 Auto/Mileage Allowance400.00 400.00 - 4,400.00 4,400.00 - 4,800.00 400.00 8.3%6709090 Contract Services170.00 - 170.00 245.00 - 245.00 - - 0.0%6709150 Dues & Subscriptions586.00 500.00 86.00 1,187.00 1,450.00 (263.00) 1,500.00 313.00 20.9%6709180 Employee Recruiting/Relocation196.91 - 196.91 5,061.91 2,000.00 3,061.91 2,000.00 (3,061.91) -153.1%6709197 Equipment Rental268.83 350.00 (81.17) 3,713.51 3,850.00 (136.49) 4,200.00 486.49 11.6%6709202 Fees-Bank(68.64) 300.00 (368.64) 1,437.02 3,300.00 (1,862.98) 3,600.00 2,162.98 60.1%6709208 Fees-Payroll Processing517.77 550.00 (32.23) 6,861.30 6,050.00 811.30 6,600.00 (261.30) 0.0%6709220 Freight/Delivery44.68 50.00 (5.32) 779.10 550.00 229.10 600.00 (179.10) -29.9%6709490 Miscellaneous 80.00 100.00 (20.00) 599.11 1,100.00 (500.89) 1,200.00 600.89 50.1%6709491 Loss/Damage113.33 - 113.33 113.33 - 113.33 - - 0.0%6709620 Postage/Mail Services 288.03 75.00 213.03 1,191.52 825.00 366.52 900.00 (291.52) -32.4%6709625 Professional Fees- 400.00 (400.00) 3,305.00 4,400.00 (1,095.00) 4,800.00 1,495.00 31.1%6709636 Promotion/Entertainment- 100.00 (100.00) - 1,100.00 (1,100.00) 1,200.00 1,200.00 100.0%6709722 Seminars & Training- 200.00 (200.00) 925.00 800.00 125.00 900.00 (25.00) -2.8%6709810 Travel - 500.00 (500.00) 120.99 900.00 (779.01) 1,100.00 979.01 89.0%6709820 Uniforms 333.58 75.00 258.58 668.15 975.00 (306.85) 1,050.00 381.85 36.4%Total-G&A-OTHER EXPENSES 2,930.49 3,600.00 (669.51) 30,607.94 31,700.00 (1,092.06) 34,450.00 4,200.39 12.2%Total-GENERAL & ADMINISTRATIVE22,511.60 26,852.00 (4,340.40) 261,339.79 285,672.00 (24,332.21) 311,576.00 50,594.54 16.2%Month to Date Year to DateSilverRock ResortGeneral & Administrative Expense StatementMay 2007Annual Budget9 MayFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense68-LEASES6800192 Equipment Leases-Carts 9,319.88 9,800.00 (480.12) 91,974.85 107,800.00 (15,825.15) 117,600.00 25,625.15 21.8%6800193 Equipment Leases-Course Maint 18,406.59 20,000.00 (1,593.41) 206,939.34 220,000.00 (13,060.66) 240,000.00 33,060.66 13.8%6800194 Equipment Leases-Trailer 499.08 600.00 (100.92) 8,164.74 6,600.00 1,564.74 7,200.00 (964.74) -13.4%6800195 Equipment Leases-Software 3,525.86 1,525.00 2,000.86 18,106.81 16,775.00 1,331.81 18,300.00 193.19 1.1%6800196 Equipment Leases-GPS 6,840.14 7,400.00 (559.86) 74,951.76 81,400.00 (6,448.24) 88,800.00 13,848.24 15.6%6800198 Equipment Leases-Others 2,262.71 - 2,262.71 - - - - - 0.0%Total-LEASES40,854.26 39,325.00 1,529.26 400,137.50 432,575.00 (32,437.50) 471,900.00 71,762.50 15.2%69-MISC OTHER EXPENSES6900096 Contract Srvcs-Management Fee 2,512.63 14,833.00 (12,320.37) 51,995.23 106,925.00 (54,929.77) 125,196.00 73,200.77 58.5%6900210 FF&E Reserve 6,306.46 5,271.00 1,035.46 61,616.74 63,646.00 (2,029.26) 67,426.00 5,809.26 8.6%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 46,200.00 (1,676.60) 50,400.00 5,876.60 11.7%Total-MISC OTHER EXPENSES8,819.09 24,304.00 (15,484.91) 161,138.39 236,771.00 (75,632.61) 263,022.00 101,883.61 38.7%Annual BudgetMonth to Date Year to Date Operating Leases & Miscellaneous Other Expense StatementMay 200710 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 12823 6Sales00040Promotion30000Golf Industry842418 25VIP00000Celebrity00220PGA Comp43 163640 48Charity/Gift Certificate68810 32Rain/Wind Checks983638 4Club Staff89 402888 96LQ HS Golf0 36 108 116 0189 124 250 339 211 011 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report‐2006‐2007May 2007Date Time Description CategoryPlayers5/12/2007 11:22 Scott Hennessee - KESQ Media 45/18/2007 8:45 Ginger Jeffries - KESQ Media 212