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05 November 2007 SilverRock Resort - Monthly Financial Statement Monthly Financial Statements July 2007 – November 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 NovemberFinal Budget Variance Percentages Unfavorable (-) Favorable (+) Final Budget Variance Annual Budget Unemcumb. % Bdgt Income400000 Golf Green Fee Revenue 322,249.50 298,965.00 23,284.50 7.8% 739,123.50 705,225.00 33,898.50 3,161,211.00 2,422,087.50 23%401000 Miscellaneous Golf Revenue 16,155.00 10,250.00 5,905.00 57.6% 35,104.30 29,188.00 5,916.30 83,725.00 48,620.70 42%410000 Revenue-Golf Shop 30,479.73 30,400.00 79.73 0.3% 85,067.46 90,151.00 (5,083.54) 327,370.00 242,302.54 26%420000 Revenue-F&B Concession 1,500.00 1,500.00 - 0.0% 4,500.00 4,500.00 - 12,000.00 7,500.00 38%890000 Interest Income 24.72 - 24.72 0.0% 137.61 - 137.61 - (137.61) 0%Total Income 370,408.95 341,115.00 29,293.95 8.6% 863,932.87 829,064.00 34,868.87 3,584,306.00 2,720,373.13 24%Cost of Goods Sold510000 COS-Golf Shop 14,789.95 16,135.00 (1,345.05) 8.3% 45,755.56 47,848.05 2,092.49 173,752.00 127,996.44 26%Total COS 14,789.95 16,135.00 (1,345.05) 8.3% 45,755.56 47,848.05 2,092.49 173,752.00 127,996.44 26%Gross Profit 355,619.00 324,980.00 30,639.00 9.4% 818,177.31 781,215.95 36,961.36 3,410,554.00 2,592,376.69 24%610000 Golf Pro Shop 23,864.28 22,236.00 (1,628.28) -7.3% 95,761.60 92,845.00 (2,916.60) 256,699.00 160,937.40 37%630000 Course Maintenance 149,039.97 151,948.00 2,908.03 1.9% 856,656.51 856,574.00 (82.51) 1,796,367.00 939,710.49 48%640000 Outside Services 32,114.87 26,872.00 (5,242.87) -19.5% 107,948.31 104,637.00 (3,311.31) 297,353.00 189,404.69 36%650000 Clubhouse 15,079.71 14,242.00 (837.71) -5.9% 74,985.78 71,810.00 (3,175.78) 172,900.00 97,914.22 43%660000 Marketing 27,872.11 29,352.00 1,479.89 5.0% 98,906.96 86,585.00 (12,321.96) 252,469.00 153,562.04 39%670000 General & Administrative 26,915.37 27,196.00 280.63 1.0% 118,631.50 133,655.00 15,023.50 321,596.00 202,964.50 37%680000 Leases 39,574.74 39,325.00 (249.74) -0.6% 196,492.82 196,625.00 132.18 471,900.00 275,407.18 42%690000 Miscellaneous Other Expense 30,826.75 20,795.00 (10,031.75) -48.2% 118,244.77 134,085.00 15,840.23 253,363.00 135,118.23 47%Total Expenses 345,287.80 331,966.00 (13,321.80) -4.0% 1,667,628.25 1,676,816.00 9,187.75 3,822,647.00 2,155,018.75 44%Net Income10,331.20 (6,986.00) 17,317.20 247.9%(849,450.94) (895,600.05) 46,149.11 (412,093.00) 437,357.94 206%Rounds of Golf PlayedPaid Rounds Played 3,782 3,800 (18) -0.5% 14,298 12,151 2,147 40,580 26,282 35%Ave $ Per Paid Round Green Fee 85.21 78.68 6.53 8.3% 51.69 58.04 (6.34) 77.90 26.21 66%Ave $ Per Paid Round Merchandise 8.06 8.00 0.06 0.7% 5.95 7.42 (1.47) 8.07 2.12 74%Ave $ Per Paid Miscellaneous 4.27 2.70 1.57 58.4% 2.46 2.40 0.05 2.06 - 0%Month to Date Year to DateNovember 2007SilverRock ResortSummary Operating Income Statement1 Income NovemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4000000 Revenue-Fees 322,249.50 298,965.00 23,284.50 739,123.50 705,225.00 33,898.50 3,161,211.002,422,087.5023%4010000 Rider Fee 425.00 380.00 45.00 2,425.00 1,215.00 1,210.00 4,058.001,633.0060%4040000 Club Rental 4,260.00 1,330.00 2,930.00 10,725.00 4,253.00 6,472.00 14,203.003,478.0076%4050000 Driving Range 5,040.00 3,040.00 2,000.00 12,360.00 9,720.00 2,640.00 32,464.0020,104.0038%4060000 Handicap Fees 2,305.00 2,000.00 305.00 4,205.00 3,500.00 705.00 8,000.00 3,795.0053%4080000 GPS Advertising 2,625.00 2,000.00 625.00 2,625.00 7,000.00 (4,375.00) 12,000.00 9,375.0022%4090000 Ball Retriever/Subcontract - - - 1,264.30 2,000.00 (735.70) 4,000.00 2,735.7032%4091000 Golf Professional Rental Fee 1,500.00 1,500.00 - 1,500.00 1,500.00 - 9,000.00 - 0% Total Revenue Fees 338,404.50 309,215.00 29,189.50 774,227.80 734,413.00 39,814.80 3,244,936.00 2,463,208.20 24%Total Income338,404.50 309,215.00 29,189.50 774,227.80 734,413.00 39,814.80 3,244,936.00 2,463,208.20 24%Month to Date Year to Date Annual BudgetSilverRock ResortStatement of Fees RevenueNovember 20072 Income NovemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4100000 Sales Miscellaneous 434.44 - 434.44 2,753.44 - 2,753.44 4100110 Sales Hard Goods 9,929.31 10,640.00 (710.69) 32,303.29 31,553.00 750.29 114,580.00 82,276.71 28%4100112 Sales-Soft Goods 21,475.25 19,760.00 1,715.25 64,101.32 58,598.00 5,503.32 212,791.00 148,689.68 30%5100639 GS-Discounts-Mdse (1,359.27) - (1,359.27) (14,090.59) - (14,090.59) - 14,090.59 0% Total Revenue Golf Shop 30,479.73 30,400.00 79.73 85,067.46 90,151.00 (5,083.54) 327,371.00 245,056.98 25%COS 5100150 COS-GS-Hard Goods 5,568.43 5,852.00 (283.57) 19,705.42 17,354.15 2,351.27 63,019.00 43,313.58 31%5100151 COS-GS-Soft Goods 9,223.56 10,868.00 (1,644.44) 26,058.18 32,228.90 (6,170.72) 117,035.05 90,976.87 22%5100152 COS-GS-Purchase Disc (2.04) (836.00) 833.96 (8.04) (2,480.00) 2,471.96 (9,003.00) (8,994.96) 0%5100220 COS-GS-Freight Merch - 251.00 (251.00) - 745.00 (745.00) 2,701.00 2,701.00 0%Cost of Sales - Golf Shop 14,789.95 16,135.00 (1,345.05) 45,755.56 47,848.05 (2,092.49) 173,752.05 127,996.49 26%Gross Profit 15,689.78 14,265.00 1,424.78 39,311.90 42,302.95 (2,991.05) 153,618.95 117,060.49 24%COS % 48.5% 53.1% 4.6% 53.8% 53.1% -0.7% 53.1% 52.2% 2%Expense61-PS-SALARIES & BENEFITS6101175 Employee Meals 420.00 420.00 - 1,800.00 1,800.00 - 4,680.00 2,880.00 38%6101320 Insurance Group 3,620.60 3,360.00 260.60 14,606.56 12,120.00 2,486.56 35,640.00 21,033.44 41%6101325 Insurance-Workers Comp 1,505.23 1,438.00 67.23 6,127.51 5,881.00 246.51 16,247.00 10,119.49 38%6101720 Salaries 3,501.66 3,499.00 2.66 24,836.02 17,495.00 7,341.02 72,000.00 47,163.98 34%6101800 Taxes-Employer Payroll 1,103.03 1,790.00 (686.97) 5,039.00 7,323.00 (2,284.00) 20,228.00 15,189.00 25%6101880 Wages-Hourly 11,520.77 10,879.00 641.77 36,313.80 41,326.00 (5,012.20) 90,474.00 54,160.20 40%6101882 Wages-Overtime 29.83 - 29.83 125.47 - 125.47 - 952.88 0%Total -PS-SALARIES & BENEFITS 21,701.12 21,386.00 315.12 88,848.36 85,945.00 2,903.36 239,269.00 151,498.99 37%61-PS OTHER EXPENSES6103762 Supplies-Office 482.78 100.00 382.78 1,541.73 1,050.00 491.73 1,525.00 (16.73) 101%6109090 Contract Services 1,000.00 500.00 500.00 2,500.00 2,500.00 - 6,000.00 3,500.00 42%6109220 Freight & Delivery 270.38 - 270.38 771.71 - 771.71 75.00 (696.71) 1029%6109490 Miscellaneous - 50.00 (50.00) - 100.00 (100.00) 450.00 450.00 0%6109150 Dues and Subscriptions - - - - - - 2,000.00 2,000.00 0%6109500 ProShop-Over/Short (29.40) - (29.40) (1.18) - (1.18) 1.18 0%6109722 Seminars/Training - 100.00 (100.00) 372.75 2,750.00 (2,377.25) 5,490.00 5,117.25 7%6109810 Travel - Merchandise - - - - - - 90.00 90.00 0%6109820 Uniforms 331.39 100.00 231.39 1,199.43 500.00 699.43 1,800.00 600.57 67%6117840 Telephones 108.01 - 108.01 528.80 - 528.80 - (528.80) 0%Total PS-OTHER EXPENSES 2,163.16 850.00 1,313.16 6,913.24 6,900.00 13.24 17,430.00 10,516.76 40%Total Expenses 23,864.28 22,236.00 1,628.28 95,761.60 92,845.00 2,916.60 256,699.00 162,015.75 37%Net Income(8,174.50) (7,971.00) (203.50) (56,449.70) (50,542.05) (5,907.65) (103,080.05) (44,955.26) -56%Month to Date Year to Date Annual BudgetSilverRock ResortGolf Shop Income StatementNovember 20073 NovemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense63-CM-SALARIES & BENEFITS6311175 Employee Meals 240.00 240.00 - 1,200.00 1,200.00 - 2,880.00 1,680.00 58.3%6311320 Insurance-Group 13,098.05 8,850.00 4,248.05 64,471.26 44,250.00 20,221.26 106,200.00 41,728.74 39.3%6311325 Insurance-Workers Comp 5,554.52 6,329.00 (774.48) 29,827.36 31,288.00 (1,460.64) 72,453.00 42,625.64 58.8%6311720 Salaries 16,557.72 12,331.00 4,226.72 55,192.40 61,655.00 (6,462.60) 148,000.00 92,807.60 62.7%6311800 Taxes-Employer Payroll 4,689.96 8,006.00 (3,316.04) 24,256.40 39,497.00 (15,240.60) 90,868.00 66,611.60 73.3%6311880 Wages-Hourly 36,395.33 45,772.00 (9,376.67) 230,700.21 228,860.00 1,840.21 565,951.00 335,250.79 59.2%6311882 Wages-Overtime 6,124.84 6,062.00 62.84 16,805.20 26,664.00 (9,858.80) 15,916.00 (889.20) -5.6%Total-CM-SALARIES & BENEFITS82,660.42 87,590.00 (4,929.58) 422,452.83 433,414.00 (10,961.17) 1,002,268.00 579,815.17 57.9%63-CM-SUPPLIES & MATERIALS6313734 Chemicals 500.00 2,700.00 (2,200.00) 12,822.91 12,600.00 222.91 12,300.00 (522.91) -4.3%6313744 Fertilizer 4,685.51 7,000.00 (2,314.49) 49,421.00 33,700.00 15,721.00 68,950.00 19,529.00 28.3%6313746 Flowers/Plants 1,273.71 - 1,273.71 4,589.71 1,250.00 3,339.71 3,500.00 (1,089.71) -31.1%6313748 Fuel-Gasoline 4,344.18 3,800.00 544.18 19,852.98 19,900.00 (47.02) 41,400.00 21,547.02 52.0%6313750 Golf Course Accessories 2,263.08 200.00 2,063.08 7,422.03 3,300.00 4,122.03 4,200.00 (3,222.03) -76.7%6313756 POA Control 508.00 3,000.00 (2,492.00) 834.40 3,000.00 (2,165.60) 6,000.00 5,165.60 86.1%6313758 Miscellaneous Supp - - - 953.00 - 953.00 (953.00) 0.0%6313766 Pesticides 150.00 - 150.00 558.80 - 558.80 11,600.00 11,041.20 95.2%6313762 Supplies-Office 259.34 100.00 159.34 940.98 500.00 440.98 1,200.00 259.02 21.6%6313774 Sand - 2,100.00 (2,100.00) 2,781.08 4,980.00 (2,198.92) 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 - 350.00 (350.00) 89,329.50 91,300.00 (1,970.50) 93,750.00 4,420.50 4.7%6313778 Small Tools & Non-Capital Equip 2,907.40 - 2,907.40 7,004.24 5,900.00 1,104.24 6,500.00 (504.24) -7.8%6313780 Sod - 250.00 (250.00) 3,637.35 3,500.00 137.35 5,750.00 2,112.65 36.7%6313782 Topdressing 4,361.18 - 4,361.18 7,101.97 1,300.00 5,801.97 3,900.00 (3,201.97) -82.1%Total-CM-SUPPLIES & MATERIALS21,252.40 19,500.00 1,752.40 207,249.95 186,230.00 21,019.95 270,710.00 63,460.05 23.4%63-CM-REPAIRS & MAINTENANCE6315095 CM-R&M-Contract Lake Maint 692.29 500.00 192.29 4,295.90 5,500.00 (1,204.10) 14,000.00 9,704.10 69.3%6315685 CM-R&M-Bldngs & Othr Structures 83.00 - 83.00 509.50 - 509.50 500.00 (9.50) -1.9%6315690 CM-R&M-Equipment 3,615.19 5,000.00 (1,384.81) 24,484.21 18,400.00 6,084.21 28,800.00 4,315.79 15.0%6315692 CM-R&M-Irrigation System 2,533.85 900.00 1,633.85 6,610.40 8,700.00 (2,089.60) 15,450.00 8,839.60 57.2%6315696 CM-R&M-Pumps 434.65 - 434.65 11,536.72 4,000.00 7,536.72 5,000.00 (6,536.72) -130.7%6315815 CM-R&M-Trees-Pruning Etc - - - 1,905.00 3,000.00 (1,095.00) 4,000.00 2,095.00 52.4%Total-CM-REPAIRS & MAINTENANCE 7,358.98 6,400.00 958.98 49,341.73 39,600.00 9,741.73 67,750.00 18,408.27 27.2%63-CM-UTILTIES6317830 Utilities-Electricity-Bldngs - 2,070.00 (2,070.00) - 11,178.00 (11,178.00) 22,080.00 22,080.00 100.0%6317836 Utilities-Natural Gas/LPG 22.88 - 22.88 71.45 - 71.45 (71.45) 0.0%6317840 Telephones 790.65 600.00 190.65 4,069.29 3,000.00 1,069.29 7,200.00 3,130.71 43.5%Total-CM-UTILITIES 813.53 2,670.00 (1,856.47) 4,140.74 14,178.00 (10,037.26) 29,280.00 25,139.26 85.9%63-CM-OTHER EXPENSES6319020 Auto Mileage/Allowance 500.00 500.00 - 2,500.00 2,500.00 - 6,000.00 3,500.00 58.3%6319099 Contract Svcs-Security - - - 210.00 - 210.00 (210.00) 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 683.54 600.00 83.54 9,786.24 3,000.00 6,786.24 7,200.00 (2,586.24) -35.9%6319150 Dues & Subscriptions - 200.00 (200.00) - 400.00 (400.00) 900.00 900.00 100.0%6319170 Employee Education 325.00 50.00 275.00 325.00 250.00 75.00 600.00 275.00 45.8%6319197 Equipment Rental 330.17 600.00 (269.83) 2,446.15 2,900.00 (453.85) 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) 4,044.29 500.00 3,544.29 1,200.00 (2,844.29) -237.0%6319500 Propane/Natural Gas - 150.00 (150.00) - 750.00 (750.00) 1,800.00 1,800.00 100.0%6319718 Safety Equipment & Training 190.37 200.00 (9.63) 1,497.58 2,300.00 (802.42) 3,400.00 1,902.42 56.0%6319822 Uniforms 1,302.40 720.00 582.40 5,069.72 4,350.00 719.72 9,390.00 4,320.28 46.0%6319999 Capital Expense-Capex 3,700.00 3,700.00 - 18,500.00 18,500.00 - 44,400.00 25,900.00 58.3%Total-CM-OTHER EXPENSES 7,031.48 6,820.00 211.48 44,378.98 37,650.00 6,728.98 84,690.00 40,311.02 47.6%Month to Date Year to DateSilverRock ResortCourse Maintenance Expense StatementNovember 2007Annual Budget4 NovemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget632-CM-LANDSCAPE MAINTENANCE632-CM-LM-SALARIES & BENEFITS6321320 Insurance-Group 1,104.00 1,104.00 - 4,467.50 5,520.00 (1,052.50) 13,248.00 8,780.50 66.3%6321325 Insurance-Workers Comp 1,465.56 1,375.00 90.56 6,332.31 6,904.00 (571.69) 16,163.00 9,830.69 60.8%6321800 Taxes-Employer Payroll 1,478.32 1,749.00 (270.68) 6,446.45 8,803.00 (2,356.55) 20,369.00 13,922.55 68.4%6321880 Wages-Hourly 13,659.63 13,141.00 518.63 56,359.24 65,705.00 (9,345.76) 157,692.00 101,332.76 64.3%6321882 Wages-Overtime 995.97 910.00 85.97 6,962.98 5,005.00 1,957.98 5,915.00 (1,047.98) -17.7%Total-CM-LM-SALARIES & BENEFITS18,703.48 18,279.00 424.48 80,568.48 91,937.00 (11,368.52) 213,387.00 124,038.02 58.1%632-CM-LM-SUPPLIES & MATERIALS6323778 Small Tools 650.00 100.00 550.00 650.00 500.00 150.00 1,025.00 375.00 36.6%6323788 Uniforms 436.15 240.00 196.15 1,446.58 1,200.00 246.58 2,880.00 1,433.42 49.8%Total-CM-LM-SUPPLIES & MATERIALS1,086.15 340.00 746.15 2,096.58 1,700.00 396.58 3,905.00 1,808.42 46.3%632-CM-LM-REPAIRS & MAINTENANCE6325687 CM-LM-R&M-Drip Irrigation 1,621.00 500.00 1,121.00 2,085.76 2,000.00 85.76 4,250.00 2,164.24 50.9%Total-CM-LM-REPAIRS & MAINTENANCE 1,621.00 500.00 1,121.00 2,085.76 2,000.00 85.76 4,250.00 2,164.24 50.9%632-CM-WATER & ENERGY6337834 Utilities-Electricity-Pumping 6,381.70 8,500.00 (2,118.30) 31,286.12 42,500.00 (11,213.88) 102,000.00 70,713.88 69.3%6337842 Utilities-Water2,130.83 1,349.00 781.83 13,055.34 7,365.00 5,690.34 18,126.00 5,070.66 28.0%Total-CM-WATER & ENERGY8,512.53 9,849.00 (1,336.47) 44,341.46 49,865.00 (5,523.54) 120,126.00 75,784.54 63.1%149,039.97 151,948.00 (2,908.03) 856,656.51 856,574.00 82.51 1,796,366.00 930,928.99 51.8%Total -COURSE MAINTENANCEMonth to Date Year to DateSilverrock ResortCourse Maintenance Expense StatementNovember 2007Annual Budget5 NovemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense641-CBR-SALARIES & BENEFITS6411175 Employee Meals 540.00 540.00 - 2,220.00 2,220.00 - 6,180.00 3,960.00 64.1%6411320 Insurance-Group 51.15 720.00 (668.85) 308.19 3,600.00 (3,291.81) 8,640.00 8,331.81 96.4%6411325 Insurance-Workers Comp 1,038.97 857.00 181.97 3,658.18 5,026.00 (1,367.82) 16,097.00 12,438.82 77.3%6411800 Taxes-Employer Payroll 1,009.31 743.00 266.31 3,834.65 4,357.00 (522.35) 13,956.00 10,121.35 72.5%6411880 Wages-Hourly 10,333.56 5,965.00 4,368.56 36,295.07 34,995.00 1,300.07 112,095.00 75,799.93 67.6%6411882 Wages-Overtime 56.10 - 56.10 286.69 - 286.69 - (286.69) 0.0%Total-CBR-SALARIES & BENEFITS13,029.09 8,825.00 4,204.09 46,602.78 50,198.00 (3,595.22) 156,968.00 110,365.22 70.3%641-CBR-SUPPLIES & MATERIALS6413732 Supplies-Carts 77.62 1,000.00 (922.38) 1,990.31 1,500.00 490.31 2,350.00 359.69 15.3%6413742 Supplies-Expendable - 1,000.00 (1,000.00) 613.86 2,450.00 (1,836.14) 5,050.00 4,436.14 87.8%6413752 Supplies-Range Balls 5,820.00 6,000.00 (180.00) 5,820.00 6,000.00 (180.00) 6,000.00 180.00 3.0%6413762 Supplies-Office 76.19 50.00 26.19 76.19 175.00 (98.81) 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 100.75 72.00 28.75 726.01 1,788.00 (1,061.99) 2,292.00 1,565.99 68.3%6413796 Supplies-Bottled Water3,375.33 1,200.00 2,175.33 11,922.28 6,669.00 5,253.28 22,631.00 10,708.72 47.3%Total-CBR-SUPPLIES & MATERIALS9,449.89 9,322.00 127.89 22,309.65 18,582.00 3,727.65 39,268.00 16,958.35 43.2%641-CBR-REPAIRS & MAINTENANCE6415096 CBR-R&M-Contract Services-Carts 720.00 720.00 - 3,600.00 3,600.00 - 8,640.00 5,040.00 58.3%6415690 CBR-R&M-Equipment 212.03 125.00 87.03 3,008.98 625.00 2,383.98 1,500.00 (1,508.98) -100.6%6415695 CBR-R&M-Cart Maintenance & Repair - 250.00 (250.00) 150.00 2,250.00 (2,100.00) 4,000.00 3,850.00 96.3%Total-CBR-REPAIRS & MAINTENANCE 932.03 1,095.00 (162.97) 6,758.98 6,475.00 283.98 14,140.00 7,381.02 52.2%641-CBR-OTHER EXPENSES6419093 Contract Services-Handicaps - 400.00 (400.00) 340.00 1,100.00 (760.00) 5,000.00 4,660.00 93.2%6419094 Contract Services-Laundry/Linen 1,147.60 250.00 897.60 3,691.32 1,250.00 2,441.32 3,000.00 (691.32) -23.0%6419220 Freight/Delivery 86.00 75.00 11.00 86.00 375.00 (289.00) 900.00 814.00 90.4%6419490 Miscellaneous 93.32 75.00 18.32 93.32 425.00 (331.68) 1,150.00 1,056.68 91.9%6419820 Uniforms 157.15 500.00 (342.85) 2,030.46 3,000.00 (969.54) 5,625.00 3,594.54 63.9%Total-CBR-OTHER EXPENSES 1,484.07 1,300.00 184.07 6,241.10 6,150.00 91.10 15,675.00 9,433.90 60.2%TOTAL-CARTS,BAGROOM & RANGE 24,895.08 20,542.00 4,353.08 81,912.51 81,405.00 507.51 226,051.00 144,138.49 63.8%643-CS-SALARIES & BENEFITS6431175 Employee Meals 300.00 300.00 - 1,140.00 1,140.00 - 3,120.00 1,980.00 63.5%6431325 Insurance-Workers Comp 459.39 375.00 84.39 1,431.24 1,171.00 260.24 4,073.00 2,641.76 64.9%6431800 Taxes-Employer Payroll 592.59 467.00 125.59 1,932.20 1,456.00 476.20 5,071.00 3,138.80 61.9%6431880 Wages-Hourly 4,576.92 3,750.00 826.92 14,282.03 11,700.00 2,582.03 40,732.00 26,449.97 64.9%6431882 Wages-Overtime 16.89 - 16.89 30.97 - 30.97 - (30.97) 0.0%Total-CS-SALARIES & BENEFITS5,945.79 4,892.00 1,053.79 18,816.44 15,467.00 3,349.44 52,996.00 34,179.56 64.5%643-CS-OTHER EXPENSES6433742 Supplies Expendable - 100.00 (100.00) 209.63 400.00 (190.37) 1,050.00 840.37 80.0%6439490 Miscellaneous 61.00 - 61.00 61.00 - 61.00 200.00 139.00 69.5%6439718 Safety Equipment & Training - 50.00 (50.00) - 250.00 (250.00) 600.00 600.00 100.0%6439820 Uniforms - 75.00 (75.00) 883.73 1,050.00 (166.27) 1,900.00 1,016.27 53.5%6439999 Capital Expense-Capex 1,213.00 1,213.00 - 6,065.00 6,065.00 - 14,556.00 8,491.00 58.3%Total-CS-OTHER EXPENSES 1,274.00 1,438.00 (164.00) 7,219.36 7,765.00 (545.64) 18,306.00 11,086.64 60.6%Total-COURSE SERVICES 7,219.79 6,330.00 889.79 26,035.80 23,232.00 2,803.80 71,302.00 45,266.20 63.5%TOTAL OUTSIDE SERVICES32,114.87 26,872.00 5,242.87 107,948.31 104,637.00 3,311.31 297,353.00 178,318.05 60.0%Month to Date Year to DateSilverRock ResortOutside Services Expense StatementNovember 2007Annual Budget6 NovemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense65-CH-SUPPLIES & MATERIALS6503742 Supplies-Expendable854.46 400.00 454.46 2,824.61 2,000.00 824.61 4,800.00 1,975.39 41.2%Total-CH-SUPPLIES & MATERIALS 854.46 400.00 454.46 2,824.61 2,000.00 824.61 4,800.00 1,975.39 41.2%65-CH-UTILITIES6507836 Utilities-Natural Gas278.72 300.00 (21.28) 1,350.59 1,500.00 (149.41) 3,600.00 2,249.41 62.5%6507838 Utilities-Sewer- 200.00 (200.00) - 1,000.00 (1,000.00) 2,400.00 2,400.00 100.0%6507840 Utilities-Telephone1,128.84 1,000.00 128.84 6,615.75 5,000.00 1,615.75 12,000.00 5,384.25 44.9%6507842 Utilities-Water149.81 200.00 (50.19) 1,196.41 1,000.00 196.41 2,400.00 1,203.59 50.1%6507844 Utilities-Cable331.78 317.00 14.78 1,903.73 1,585.00 318.73 3,800.00 1,896.27 49.9%Total-CH-UTILITIES 1,889.15 2,017.00 (127.85) 11,066.48 10,085.00 981.48 24,200.00 13,133.52 54.3%65-CH-OTHER EXPENSES6509091 Contract Services-Cleaning2,450.00 1,825.00 625.00 9,750.00 9,725.00 25.00 22,500.00 12,750.00 56.7%6509098 Contract Services-Refuse Dispose535.34 500.00 35.34 2,384.38 2,500.00 (115.62) 6,000.00 3,615.62 60.3%6509099 Contract Services-Security7,867.76 8,100.00 (232.24) 43,403.48 40,500.00 2,903.48 97,200.00 53,796.52 55.3%6509215 Flowers & Decorations267.82 100.00 167.82 349.33 500.00 (150.67) 2,600.00 2,250.67 86.6%6509490 Miscellaneous- 200.00 (200.00) - 1,000.00 (1,000.00) 2,400.00 2,400.00 100.0%6509718 Safety Equipment & Training- 100.00 (100.00) - 500.00 (500.00) 1,200.00 1,200.00 100.0%Total-CH-OTHER EXPENSES 11,120.92 10,825.00 295.92 55,887.19 54,725.00 1,162.19 131,900.00 76,012.81 57.6%65-CH-REPAIRS & MAINTENANCE6515685 CH-R&M-Building Structures- 200.00 (200.00) 2,555.94 1,000.00 1,555.94 2,400.00 (155.94) -6.5%6515686 CH-R&M-Restaurant Repairs873.22 400.00 473.22 1,479.78 2,000.00 (520.22) 4,800.00 3,320.22 69.2%6515690 CH-R&M-Equipment Repair341.96 400.00 (58.04) 1,171.78 2,000.00 (828.22) 4,800.00 3,628.22 75.6%Total-CH-REPAIRS & MAINTENANCE 1,215.18 1,000.00 215.18 5,207.50 5,000.00 207.50 12,000.00 6,792.50 56.6%Total CLUBHOUSE15,079.71 14,242.00 837.71 74,985.78 71,810.00 3,175.78 172,900.00 13,585.00 7.9%Month to Date Year to DateSilverRock ResortClubhouse Expense StatementNovember 2007Annual Budget7 NovemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense66-MKT-SUPPLIES & MATERIALS6603762 Supplies-Office 30.93 100.00 (69.07) 664.46 500.00 164.46 1,200.00 535.54 44.6%6603768 Supplies-Printing & Stationery 377.13 200.00 177.13 606.16 3,400.00 (2,793.84) 4,425.00 3,818.84 86.3%408.06 300.00 108.06 1,270.62 3,900.00 (2,629.38) 5,625.00 4,354.38 77.4%66-MKT-UTILITIES6607840 Utilities-Telephone 65.51 100.00 (34.49) 353.96 500.00 (146.04) 1,200.00 846.04 70.5%Total-MKT-UTILITIES 65.51 100.00 (34.49) 353.96 500.00 (146.04) 1,200.00 846.04 70.5%66-MKT-OTHER EXPENSES6609010 Advertising 23,767.68 22,802.00 965.68 93,862.34 70,210.00 23,652.34 221,834.00 127,971.66 57.7%6609040 Business Meals 24.67 25.00 (0.33) 49.67 125.00 (75.33) 300.00 250.33 83.4%6609080 Collateral Material 3,507.19 1,000.00 2,507.19 2,325.17 3,500.00 (1,174.83) 9,000.00 6,674.83 74.2%6609102 Contract Services-Web Page 99.00 175.00 (76.00) 594.00 875.00 (281.00) 2,100.00 1,506.00 71.7%6609490 Miscellaneous - 50.00 (50.00) - 50.00 (50.00) 350.00 350.00 100.0%6609620 Postage - 50.00 (50.00) 131.20 250.00 (118.80) 600.00 468.80 78.1%6609630 Promotion - 4,000.00 (4,000.00) - 5,000.00 (5,000.00) 6,500.00 6,500.00 0.0%6609633 Promotion-Community - 750.00 (750.00) - 1,725.00 (1,725.00) 2,925.00 2,925.00 100.0%6609634 Promotion-Media/Vender - 50.00 (50.00) - 100.00 (100.00) 700.00 - 0.0%6609150 Dues and Subscriptions - - - 320.00 - 320.00 735.00 415.00 56.5%6609820 Uniforms - 50.00 (50.00) - 350.00 (350.00) 600.00 600.00 100.0%Total-MKT-OTHER EXPENSES 27,398.54 28,952.00 (1,553.46) 97,282.38 82,185.00 15,097.38 245,644.00 147,661.62 60.1%Total-MARKETING27,872.11 29,352.00 (1,479.89) 98,906.96 86,585.00 12,321.96 252,469.00 152,862.04 60.5%Month to Date Year to DateSilverRock ResortMarketing Expense StatementNovember 2007Annual Budget8 NovemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense67-G&A-SALARIES & BENEFITS6701175 Employee Meals 180.00 180.00 - 900.00 900.00 - 2,160.00 1,260.00 58.3%6701320 Insurance-Group1,684.20 1,980.00 (295.80) 8,751.44 9,900.00 (1,148.56) 23,760.00 15,008.56 63.2%6701325 Insurance-Workers Comp1,771.07 1,673.00 98.07 7,911.23 8,365.00 (453.77) 20,076.00 12,164.77 60.6%6701720 Salaries 15,374.98 14,000.00 1,374.98 66,787.54 70,000.00 (3,212.46) 168,000.00 101,212.46 60.2%6701800 Taxes-Employer Payroll 1,192.01 2,083.00 (890.99) 6,400.26 10,415.00 (4,014.74) 24,994.00 18,593.74 74.4%6701880 Wages-Hourly3,185.63 2,730.00 455.63 13,175.19 13,650.00 (474.81) 32,756.00 19,580.81 59.8%6701882 Wages-Overtime - - - - - - - - 0.0%Total-G&A-SALARIES & BENEFITS 23,387.89 22,646.00 741.89 103,925.66 113,230.00 (9,304.34) 271,746.00 167,820.34 61.8%67-G&A-SUPPLIES & MATERIALS6703740 Supplies-Computer126.95 500.00 (373.05) 2,491.95 2,500.00 (8.05) 6,000.00 3,508.05 58.5%6703762 Supplies-Office 228.92 125.00 103.92 345.10 625.00 (279.90) 1,500.00 1,154.90 77.0%6703768 Supplies-Printing & Stationery183.61 100.00 83.61 285.68 400.00 (114.32) 3,200.00 2,914.32 91.1%6703778Supplies-Small Tools/Non-Capital 395.00 100.00 295.00 395.00 300.00 95.00 900.00 505.00 56.1%Total-G&A-SUPPLIES & MATERIALS 934.48 825.00 109.48 3,517.73 3,825.00 (307.27) 11,600.00 8,082.27 69.7%67-G&A-REPAIRS & MAINTENANCE6705690 Repairs & Maintenance-Equipment- 100.00 (100.00) 512.50 500.00 12.50 1,200.00 687.50 57.3%Total-G&A-REPAIRS & MAINTENANCE - 100.00 (100.00) 512.50 500.00 12.50 1,200.00 687.50 57.3%67-G&A-OTHER EXPENSES6709020 Auto/Mileage Allowance400.00 400.00 - 2,000.00 2,000.00 - 4,800.00 2,800.00 58.3%6709090 Contract Services- - - 720.00 - 720.00 - 0.0%6709150 Dues & Subscriptions- 50.00 (50.00) 270.00 350.00 (80.00) 1,500.00 1,230.00 82.0%6709180 Employee Recruiting/Relocation442.00 1,000.00 (558.00) 919.00 3,000.00 (2,081.00) 4,600.00 3,681.00 80.0%6709197 Equipment Rental369.03 350.00 19.03 2,053.07 1,750.00 303.07 4,200.00 2,146.93 51.1%6709202 Fees-Bank73.52 300.00 (226.48) 308.68 1,500.00 (1,191.32) 3,600.00 3,291.32 91.4%6709208 Fees-Payroll Processing747.04 550.00 197.04 2,914.49 2,750.00 164.49 6,600.00 3,685.51 55.8%6709220 Freight/Delivery- 50.00 (50.00) 283.58 250.00 33.58 600.00 316.42 52.7%6709490 Miscellaneous 133.86 100.00 33.86 133.86 500.00 (366.14) 1,200.00 1,066.14 88.8%6709620 Postage/Mail Services 139.10 75.00 64.10 447.36 375.00 72.36 900.00 452.64 50.3%6709625 Professional Fees- 400.00 (400.00) - 2,000.00 (2,000.00) 4,800.00 4,800.00 100.0%6709636 Promotion/Entertainment- 100.00 (100.00) - 500.00 (500.00) 1,200.00 1,200.00 100.0%6709722 Seminars & Training288.45 100.00 188.45 538.45 500.00 38.45 900.00 361.55 40.2%6709810 Travel - - - - 100.00 (100.00) 1,100.00 1,100.00 100.0%6709820 Uniforms - 150.00 (150.00) 87.12 525.00 (437.88) 1,050.00 962.88 91.7%Total-G&A-OTHER EXPENSES 2,593.00 3,625.00 (1,032.00) 10,675.61 16,100.00 (5,424.39) 37,050.00 27,094.39 73.1%Total-GENERAL & ADMINISTRATIVE26,915.37 27,196.00 (280.63) 118,631.50 133,655.00 (15,023.50) 321,596.00 203,684.50 63.3%Month to Date Year to DateSilverRock ResortGeneral & Administrative Expense StatementNovember 2007Annual Budget9 NovemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense68-LEASES6800192 Equipment Leases-Carts 7,443.84 9,800.00 (2,356.16) 48,401.72 49,000.00 (598.28) 117,600.00 69,198.28 58.8%6800193 Equipment Leases-Course Maint 20,314.53 20,000.00 314.53 90,984.68 100,000.00 (9,015.32) 240,000.00 149,015.32 62.1%6800194 Equipment Leases-Trailer 556.16 600.00 (43.84) 3,489.66 3,000.00 489.66 7,200.00 3,710.34 51.5%6800195 Equipment Leases-Software 2,152.93 1,525.00 627.93 8,814.65 7,625.00 1,189.65 18,300.00 9,485.35 51.8%6800196 Equipment Leases-GPS 6,840.14 7,400.00 (559.86) 34,200.70 37,000.00 (2,799.30) 88,800.00 54,599.30 61.5%6800198 Equipment Leases-Others 2,267.14 - 2,267.14 10,601.41 - 10,601.41 - - 0.0%Total-LEASES39,574.74 39,325.00 249.74 196,492.82 196,625.00 (132.18) 471,900.00 286,008.59 60.6%69-MISC OTHER EXPENSES6900096 Contract Srvcs-Management Fee 13,105.00 9,773.00 3,332.00 76,857.44 76,504.00 353.44 111,277.00 34,419.56 30.9%6900210 FF&E Reserve 6,768.09 6,822.00 (53.91) 15,419.52 16,581.00 (1,161.48) 71,686.00 56,266.48 78.5%6900800 Personal Property Taxes 10,953.66 - 10,953.66 18,249.05 20,000.00 (1,750.95) 20,000.00 1,750.95 8.8%6900323 Insurance-Commercial - 4,200.00 (4,200.00) 7,718.76 21,000.00 (13,281.24) 50,400.00 42,681.24 84.7%Total-MISC OTHER EXPENSES30,826.75 20,795.00 10,031.75 118,244.77 134,085.00 (15,840.23) 253,363.00 135,118.23 53.3%Annual BudgetMonth to Date Year to Date Operating Leases & Miscellaneous Other Expense StatementNovember 200710 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report‐2007‐20082007 2007 2007 2007 2007 2007Comp CategoryJulyAugustSeptemberOctoberNovemberDecemberMedia141609SalesPromotionGolf Industry72022 15VIPCelebrity PGA Comp52 54 48 22 42Charity/Gift Certificate815Rain/Wind Checks414Club Staff88 99 98 35 87LQ HS Golf148 177 196 58 172 011 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report‐2007‐2008October 2007Date Time Description CategoryPlayers11/8/2007 9:37 Kris Long - CBS Media 111/19/2007 10:37 Dave Rennie - CBS Media 812