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04 October 2007 SilverRock Resort - Monthly Financial Statement
Monthly Financial Statements July 2007 – October 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 OctoberFinal Budget Variance Percentages Unfavorable (-) Favorable (+) Final Budget Variance Annual Budget Unemcumb. % Bdgt Income400000 Golf Green Fee Revenue 70,800.50 80,616.00 (9,815.50) -12.2% 416,874.00 406,260.00 10,614.00 3,161,211.00 2,744,337.00 13%401000 Miscellaneous Golf Revenue 4,139.30 6,125.00 (1,985.70) -32.4% 18,949.30 18,938.00 11.30 83,725.00 64,775.70 23%410000 Revenue-Golf Shop 8,993.71 10,400.00 (1,406.29) -13.5% 54,587.73 59,751.00 (5,163.27) 327,370.00 272,782.27 17%420000 Revenue-F&B Concession 1,500.00 1,500.00 - 0.0% 3,000.00 3,000.00 - 12,000.00 9,000.00 25%890000 Interest Income 18.13 - 18.13 0.0% 112.89 - 112.89 - (112.89) 0%Total Income 85,451.64 98,641.00 (13,189.36) -13.4% 493,523.92 487,949.00 5,574.92 3,584,306.00 3,090,782.08 14%Cost of Goods Sold510000 COS-Golf Shop 5,681.99 5,520.00 161.99 -2.9% 31,275.88 31,713.05 437.17 173,752.00 142,476.12 18%Total COS 5,681.99 5,520.00 161.99 -2.9% 31,275.88 31,713.05 437.17 173,752.00 142,476.12 18%Gross Profit 79,769.65 93,121.00 (13,351.35) -14.3% 462,248.04 456,235.95 6,012.09 3,410,554.00 2,948,305.96 14%610000 Golf Pro Shop 23,527.96 14,086.00 (9,441.96) -67.0% 71,897.32 70,609.00 (1,288.32) 256,699.00 184,801.68 28%630000 Course Maintenance 292,008.40 276,799.00 (15,209.40) -5.5% 712,237.38 704,626.00 (7,611.38) 1,796,367.00 1,084,129.62 40%640000 Outside Services 21,584.69 17,434.00 (4,150.69) -23.8% 75,833.44 77,765.00 1,931.56 297,353.00 221,519.56 26%650000 Clubhouse 14,855.21 14,842.00 (13.21) -0.1% 59,906.07 57,568.00 (2,338.07) 172,900.00 112,993.93 35%660000 Marketing 19,678.96 21,862.00 2,183.04 10.0% 71,034.85 57,233.00 (13,801.85) 252,469.00 181,434.15 28%670000 General & Administrative 24,343.83 27,196.00 2,852.17 10.5% 91,716.13 106,459.00 14,742.87 321,596.00 229,879.87 29%680000 Leases 39,414.74 39,325.00 (89.74) -0.2% 156,918.08 157,300.00 381.92 471,900.00 314,981.92 33%690000 Miscellaneous Other Expense 14,347.90 20,916.00 6,568.10 31.4% 87,418.02 113,290.00 25,871.98 253,363.00 165,944.98 35%Total Expenses 449,761.69 432,460.00 (17,301.69) -4.0% 1,326,961.29 1,344,850.00 17,888.71 3,822,647.00 2,495,685.71 35%Net Income(369,992.04) (339,339.00) (30,653.04) -9.0%(864,713.25) (888,614.05) 23,900.80 (412,093.00) 452,620.25 210%Rounds of Golf PlayedPaid Rounds Played 1,051 1,300 (249) -19.2% 8,412 8,351 61 40,580 32,168 21%Ave $ Per Paid Round Green Fee 67.36 62.01 5.35 8.6% 49.56 48.65 0.91 77.90 28.34 64%Ave $ Per Paid Round Merchandise 8.56 8.00 0.56 7.0% 6.49 7.15 (0.67) 8.07 1.58 80%Ave $ Per Paid Miscellaneous 3.94 4.71 (0.77) -16.4% 2.25 2.27 (0.02) 2.06 - 0%Month to Date Year to DateOctober 2007SilverRock ResortSummary Operating Income Statement1 Income OctoberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4000000 Revenue-Fees 70,800.50 80,616.00 (9,815.50) 416,874.00 406,260.00 10,614.00 3,161,211.002,744,337.0013%4010000 Rider Fee 250.00 130.00 120.00 2,000.00 835.00 1,165.00 4,058.002,058.0049%4040000 Club Rental 785.00 455.00 330.00 6,465.00 2,923.00 3,542.00 14,203.007,738.0046%4050000 Driving Range 1,181.00 1,040.00 141.00 7,320.00 6,680.00 640.00 32,464.0025,144.0023%4060000 Handicap Fees 1,575.00 1,500.00 75.00 1,900.00 1,500.00 400.00 8,000.00 6,100.0024%4080000 GPS Advertising - 2,000.00 (2,000.00) - 5,000.00 (5,000.00) 12,000.00 12,000.000%4090000 Ball Retriever/Subcontract 348.30 1,000.00 (651.70) 1,264.30 2,000.00 (735.70) 4,000.00 2,735.7032%4091000 Golf Professional Rental Fee - - - - - - 9,000.00 - 0% Total Revenue Fees 74,939.80 86,741.00 (11,801.20) 435,823.30 425,198.00 10,625.30 3,244,936.00 2,800,112.70 14%Total Income74,939.80 86,741.00 (11,801.20) 435,823.30 425,198.00 10,625.30 3,244,936.00 2,800,112.70 14%Month to Date Year to Date Annual BudgetSilverRock ResortStatement of Fees RevenueOctober 20072 Income OctoberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4100000 Sales Miscellaneous 41.00 - 41.00 2,319.00 - 2,319.00 4100110 Sales Hard Goods 3,297.12 3,640.00 (342.88) 22,373.98 20,913.00 1,460.98 114,580.00 92,206.02 20%4100112 Sales-Soft Goods 8,999.93 6,760.00 2,239.93 42,626.07 38,838.00 3,788.07 212,791.00 170,164.93 20%5100639 GS-Discounts-Mdse (3,344.34) - (3,344.34) (12,731.32) - (12,731.32) - 12,731.32 0% Total Revenue Golf Shop 8,993.71 10,400.00 (1,406.29) 54,587.73 59,751.00 (5,163.27) 327,371.00 275,102.27 16%COS 5100150 COS-GS-Hard Goods 2,459.54 2,002.00 457.54 14,447.26 11,502.15 2,945.11 63,019.00 48,571.74 23%5100151 COS-GS-Soft Goods 3,228.45 3,718.00 (489.55) 16,834.62 21,360.90 (4,526.28) 117,035.05 100,200.43 14%5100152 COS-GS-Purchase Disc (6.00) (286.00) 280.00 (6.00) (1,644.00) 1,638.00 (9,003.00) (8,997.00) 0%5100220 COS-GS-Freight Merch - 86.00 (86.00) - 494.00 (494.00) 2,701.00 2,701.00 0%Cost of Sales - Golf Shop 5,681.99 5,520.00 161.99 31,275.88 31,713.05 (437.17) 173,752.05 142,476.17 18%Gross Profit 3,311.72 4,880.00 (1,568.28) 23,311.85 28,037.95 (4,726.10) 153,618.95 132,626.10 14%COS % 63.2% 53.1% -10.1% 57.3% 53.1% -4.2% 53.1% 51.8% 2%Expense61-PS-SALARIES & BENEFITS6101175 Employee Meals 420.00 420.00 - 1,380.00 1,380.00 - 4,680.00 3,300.00 29%6101320 Insurance Group 2,329.80 3,360.00 (1,030.20) 10,985.96 8,760.00 2,225.96 35,640.00 24,654.04 31%6101325 Insurance-Workers Comp 1,654.02 707.00 947.02 4,622.28 4,443.00 179.28 16,247.00 11,624.72 28%6101720 Salaries 5,513.28 3,499.00 2,014.28 21,334.36 13,996.00 7,338.36 72,000.00 50,665.64 30%6101800 Taxes-Employer Payroll 1,260.16 880.00 380.16 3,935.97 5,533.00 (1,597.03) 20,228.00 16,292.03 19%6101880 Wages-Hourly 10,936.14 3,570.00 7,366.14 24,793.03 30,447.00 (5,653.97) 90,474.00 65,680.97 27%6101882 Wages-Overtime 91.14 - 91.14 95.64 - 95.64 - 952.88 0%Total -PS-SALARIES & BENEFITS 22,204.54 12,436.00 9,768.54 67,147.24 64,559.00 2,588.24 239,269.00 173,170.28 28%61-PS OTHER EXPENSES6103762 Supplies-Office 310.60 500.00 (189.40) 1,058.95 950.00 108.95 1,525.00 466.05 69%6109090 Contract Services - 500.00 (500.00) 1,500.00 2,000.00 (500.00) 6,000.00 4,500.00 25%6109220 Freight & Delivery 38.53 - 38.53 501.33 - 501.33 75.00 (426.33) 668%6109490 Miscellaneous - 50.00 (50.00) - 50.00 (50.00) 450.00 450.00 0%6109150 Dues and Subscriptions - - - - - - 2,000.00 2,000.00 0%6109500 ProShop-Over/Short (1.76) - (1.76) 28.22 - 28.22 (28.22) 0%6109722 Seminars/Training - 500.00 (500.00) 372.75 2,650.00 (2,277.25) 5,490.00 5,117.25 7%6109810 Travel - Merchandise - - - - - - 90.00 90.00 0%6109820 Uniforms 868.04 100.00 768.04 868.04 400.00 468.04 1,800.00 931.96 48%6117840 Telephones 108.01 - 108.01 420.79 - 420.79 - (420.79) 0%Total PS-OTHER EXPENSES 1,323.42 1,650.00 (326.58) 4,750.08 6,050.00 (1,299.92) 17,430.00 12,679.92 27%Total Expenses 23,527.96 14,086.00 9,441.96 71,897.32 70,609.00 1,288.32 256,699.00 185,850.20 28%Net Income(20,216.24) (9,206.00) (11,010.24) (48,585.47) (42,571.05) (6,014.42) (103,080.05) (53,224.10) -48%Month to Date Year to Date Annual BudgetSilverRock ResortGolf Shop Income StatementOctober 20073 OctoberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense63-CM-SALARIES & BENEFITS6311175 Employee Meals 240.00 240.00 - 960.00 960.00 - 2,880.00 1,920.00 66.7%6311320 Insurance-Group 7,566.41 8,850.00 (1,283.59) 51,373.21 35,400.00 15,973.21 106,200.00 54,826.79 51.6%6311325 Insurance-Workers Comp 6,902.06 7,529.00 (626.94) 24,272.84 24,959.00 (686.16) 72,453.00 48,180.16 66.5%6311720 Salaries 5,519.24 12,331.00 (6,811.76) 38,634.68 49,324.00 (10,689.32) 148,000.00 109,365.32 73.9%6311800 Taxes-Employer Payroll 5,814.03 9,789.00 (3,974.97) 19,566.44 31,491.00 (11,924.56) 90,868.00 71,301.56 78.5%6311880 Wages-Hourly 50,786.59 45,772.00 5,014.59 194,304.88 183,088.00 11,216.88 565,951.00 371,646.12 65.7%6311882 Wages-Overtime 12,714.68 20,602.00 (7,887.32) 15,301.20 20,602.00 (5,300.80) 15,916.00 614.80 3.9%Total-CM-SALARIES & BENEFITS89,543.01 105,113.00 (15,569.99) 344,413.25 345,824.00 (1,410.75) 1,002,268.00 657,854.75 65.6%63-CM-SUPPLIES & MATERIALS6313734 Chemicals 7,201.21 4,500.00 2,701.21 12,322.91 9,900.00 2,422.91 12,300.00 (22.91) -0.2%6313744 Fertilizer 18,153.39 12,700.00 5,453.39 44,735.49 26,700.00 18,035.49 68,950.00 24,214.51 35.1%6313746 Flowers/Plants - 250.00 (250.00) 3,316.00 1,250.00 2,066.00 3,500.00 184.00 5.3%6313748 Fuel-Gasoline 7,033.97 5,900.00 1,133.97 15,508.80 16,100.00 (591.20) 41,400.00 25,891.20 62.5%6313750 Golf Course Accessories 4,703.43 2,500.00 2,203.43 5,158.95 3,100.00 2,058.95 4,200.00 (958.95) -22.8%6313756 POA Control 163.62 - 163.62 326.40 - 326.40 6,000.00 5,673.60 94.6%6313758 Miscellaneous Supp 953.00 - 953.00 953.00 - 953.00 (953.00) 0.0%6313766 Pesticides 100.00 - 100.00 408.80 - 408.80 11,600.00 11,191.20 96.5%6313762 Supplies-Office - 100.00 (100.00) 681.64 400.00 281.64 1,200.00 518.36 43.2%6313774 Sand 1,705.45 2,100.00 (394.55) 2,781.08 2,880.00 (98.92) 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 88,359.74 90,000.00 (1,640.26) 89,329.50 90,950.00 (1,620.50) 93,750.00 4,420.50 4.7%6313778 Small Tools & Non-Capital Equip 2,010.98 - 2,010.98 4,096.84 5,900.00 (1,803.16) 6,500.00 2,403.16 37.0%6313780 Sod - 250.00 (250.00) 3,637.35 3,250.00 387.35 5,750.00 2,112.65 36.7%6313782 Topdressing - - - 2,740.79 1,300.00 1,440.79 3,900.00 1,159.21 29.7%Total-CM-SUPPLIES & MATERIALS130,384.79 118,300.00 12,084.79 185,997.55 166,730.00 19,267.55 270,710.00 84,712.45 31.3%63-CM-REPAIRS & MAINTENANCE6315095 CM-R&M-Contract Lake Maint - 500.00 (500.00) 3,603.61 5,000.00 (1,396.39) 14,000.00 10,396.39 74.3%6315685 CM-R&M-Bldngs & Othr Structures 197.50 - 197.50 426.50 - 426.50 500.00 73.50 14.7%6315690 CM-R&M-Equipment 9,894.74 3,500.00 6,394.74 20,869.02 13,400.00 7,469.02 28,800.00 7,930.98 27.5%6315692 CM-R&M-Irrigation System 2,670.62 2,000.00 670.62 4,076.55 7,800.00 (3,723.45) 15,450.00 11,373.45 73.6%6315696 CM-R&M-Pumps 4,216.29 1,000.00 3,216.29 11,102.07 4,000.00 7,102.07 5,000.00 (6,102.07) -122.0%6315815 CM-R&M-Trees-Pruning Etc - 3,000.00 (3,000.00) 1,905.00 3,000.00 (1,095.00) 4,000.00 2,095.00 52.4%Total-CM-REPAIRS & MAINTENANCE 16,979.15 10,000.00 6,979.15 41,982.75 33,200.00 8,782.75 67,750.00 25,767.25 38.0%63-CM-UTILTIES6317830 Utilities-Electricity-Bldngs - 1,918.00 (1,918.00) - 9,108.00 (9,108.00) 22,080.00 22,080.00 100.0%6317836 Utilities-Natural Gas/LPG - - - 48.57 - 48.57 (48.57) 0.0%6317840 Telephones 1,099.26 600.00 499.26 3,278.64 2,400.00 878.64 7,200.00 3,921.36 54.5%Total-CM-UTILITIES 1,099.26 2,518.00 (1,418.74) 3,327.21 11,508.00 (8,180.79) 29,280.00 25,952.79 88.6%63-CM-OTHER EXPENSES6319020 Auto Mileage/Allowance 500.00 500.00 - 2,000.00 2,000.00 - 6,000.00 4,000.00 66.7%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 4,139.51 600.00 3,539.51 9,102.70 2,400.00 6,702.70 7,200.00 (1,902.70) -26.4%6319150 Dues & Subscriptions - - - - 200.00 (200.00) 900.00 900.00 100.0%6319170 Employee Education - 50.00 (50.00) - 200.00 (200.00) 600.00 600.00 100.0%6319197 Equipment Rental 2,115.98 1,800.00 315.98 2,115.98 2,300.00 (184.02) 4,200.00 2,084.02 49.6%6319206 Licenses & Permits - - - - 200.00 (200.00) 1,600.00 1,600.00 100.0%6319490 Miscellaneous 145.40 100.00 45.40 4,044.29 400.00 3,644.29 1,200.00 (2,844.29) -237.0%6319500 Propane/Natural Gas - 150.00 (150.00) - 600.00 (600.00) 1,800.00 1,800.00 100.0%6319718 Safety Equipment & Training 643.52 200.00 443.52 1,307.21 2,100.00 (792.79) 3,400.00 2,092.79 61.6%6319822 Uniforms 1,978.46 1,470.00 508.46 3,767.32 3,630.00 137.32 9,390.00 5,622.68 59.9%6319999 Capital Expense-Capex 3,700.00 3,700.00 - 14,800.00 14,800.00 - 44,400.00 29,600.00 66.7%Total-CM-OTHER EXPENSES 13,222.87 8,570.00 4,652.87 37,347.50 30,830.00 6,517.50 84,690.00 47,342.50 55.9%Month to Date Year to DateSilverRock ResortCourse Maintenance Expense StatementOctober 2007Annual Budget4 OctoberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget632-CM-LANDSCAPE MAINTENANCE632-CM-LM-SALARIES & BENEFITS6321320 Insurance-Group 51.50 1,104.00 (1,052.50) 3,363.50 4,416.00 (1,052.50) 13,248.00 9,884.50 74.6%6321325 Insurance-Workers Comp 2,551.61 1,526.00 1,025.61 4,866.75 5,529.00 (662.25) 16,163.00 11,296.25 69.9%6321800 Taxes-Employer Payroll 2,717.47 2,033.00 684.47 4,968.13 7,054.00 (2,085.87) 20,369.00 15,400.87 75.6%6321880 Wages-Hourly 20,085.00 13,141.00 6,944.00 42,699.61 52,564.00 (9,864.39) 157,692.00 114,992.39 72.9%6321882 Wages-Overtime 5,431.05 3,185.00 2,246.05 5,967.01 4,095.00 1,872.01 5,915.00 (52.01) -0.9%Total-CM-LM-SALARIES & BENEFITS30,836.63 20,989.00 9,847.63 61,865.00 73,658.00 (11,793.00) 213,387.00 141,637.50 66.4%632-CM-LM-SUPPLIES & MATERIALS6323778 Small Tools - 100.00 (100.00) - 400.00 (400.00) 1,025.00 1,025.00 100.0%6323788 Uniforms 288.31 240.00 48.31 1,010.43 960.00 50.43 2,880.00 1,869.57 64.9%Total-CM-LM-SUPPLIES & MATERIALS288.31 340.00 (51.69) 1,010.43 1,360.00 (349.57) 3,905.00 2,894.57 74.1%632-CM-LM-REPAIRS & MAINTENANCE6325687 CM-LM-R&M-Drip Irrigation 219.64 500.00 (280.36) 464.76 1,500.00 (1,035.24) 4,250.00 3,785.24 89.1%Total-CM-LM-REPAIRS & MAINTENANCE 219.64 500.00 (280.36) 464.76 1,500.00 (1,035.24) 4,250.00 3,785.24 89.1%632-CM-WATER & ENERGY6337834 Utilities-Electricity-Pumping 4,722.57 8,500.00 (3,777.43) 24,904.42 34,000.00 (9,095.58) 102,000.00 77,095.58 75.6%6337842 Utilities-Water4,712.17 1,969.00 2,743.17 10,924.51 6,016.00 4,908.51 18,126.00 7,201.49 39.7%Total-CM-WATER & ENERGY9,434.74 10,469.00 (1,034.26) 35,828.93 40,016.00 (4,187.07) 120,126.00 84,297.07 70.2%292,008.40 276,799.00 15,209.40 712,237.38 704,626.00 7,611.38 1,796,366.00 1,074,244.12 59.8%Total -COURSE MAINTENANCEMonth to Date Year to DateSilverrock ResortCourse Maintenance Expense StatementOctober 2007Annual Budget5 OctoberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense641-CBR-SALARIES & BENEFITS6411175 Employee Meals 420.00 420.00 - 1,680.00 1,680.00 - 6,180.00 4,500.00 72.8%6411320 Insurance-Group 66.25 720.00 (653.75) 257.04 2,880.00 (2,622.96) 8,640.00 8,382.96 97.0%6411325 Insurance-Workers Comp 701.06 465.00 236.06 2,619.21 4,169.00 (1,549.79) 16,097.00 13,477.79 83.7%6411800 Taxes-Employer Payroll 749.61 403.00 346.61 2,825.34 3,614.00 (788.66) 13,956.00 11,130.66 79.8%6411880 Wages-Hourly 6,916.78 3,240.00 3,676.78 25,961.51 29,030.00 (3,068.49) 112,095.00 86,133.49 76.8%6411882 Wages-Overtime 93.80 - 93.80 230.59 - 230.59 - (230.59) 0.0%Total-CBR-SALARIES & BENEFITS8,947.50 5,248.00 3,699.50 33,573.69 41,373.00 (7,799.31) 156,968.00 123,394.31 78.6%641-CBR-SUPPLIES & MATERIALS6413732 Supplies-Carts 760.95 500.00 260.95 1,912.69 500.00 1,412.69 2,350.00 437.31 18.6%6413742 Supplies-Expendable 179.24 1,000.00 (820.76) 613.86 1,450.00 (836.14) 5,050.00 4,436.14 87.8%6413752 Supplies-Range Balls - - - - - - 6,000.00 6,000.00 100.0%6413762 Supplies-Office - 50.00 (50.00) - 125.00 (125.00) 525.00 525.00 100.0%6413768 Supplies-Printing and Stationary - - - 1,161.00 - 1,161.00 420.00 (741.00) -176.4%6413786 Supplies-Towels - 1,500.00 (1,500.00) 625.26 1,716.00 (1,090.74) 2,292.00 1,666.74 72.7%6413796 Supplies-Bottled Water1,350.35 669.00 681.35 8,546.95 5,469.00 3,077.95 22,631.00 14,084.05 62.2%Total-CBR-SUPPLIES & MATERIALS2,290.54 3,719.00 (1,428.46) 12,859.76 9,260.00 3,599.76 39,268.00 26,408.24 67.3%641-CBR-REPAIRS & MAINTENANCE6415096 CBR-R&M-Contract Services-Carts 720.00 720.00 - 2,880.00 2,880.00 - 8,640.00 5,760.00 66.7%6415690 CBR-R&M-Equipment 2,109.65 125.00 1,984.65 2,796.95 500.00 2,296.95 1,500.00 (1,296.95) -86.5%6415695 CBR-R&M-Cart Maintenance & Repair - 500.00 (500.00) 150.00 2,000.00 (1,850.00) 4,000.00 3,850.00 96.3%Total-CBR-REPAIRS & MAINTENANCE 2,829.65 1,345.00 1,484.65 5,826.95 5,380.00 446.95 14,140.00 8,313.05 58.8%641-CBR-OTHER EXPENSES6419093 Contract Services-Handicaps 90.00 400.00 (310.00) 340.00 700.00 (360.00) 5,000.00 4,660.00 93.2%6419094 Contract Services-Laundry/Linen 199.35 250.00 (50.65) 2,543.72 1,000.00 1,543.72 3,000.00 456.28 15.2%6419220 Freight/Delivery - 75.00 (75.00) - 300.00 (300.00) 900.00 900.00 100.0%6419490 Miscellaneous - 75.00 (75.00) - 350.00 (350.00) 1,150.00 1,150.00 100.0%6419820 Uniforms 1,873.31 2,500.00 (626.69) 1,873.31 2,500.00 (626.69) 5,625.00 3,751.69 66.7%Total-CBR-OTHER EXPENSES 2,162.66 3,300.00 (1,137.34) 4,757.03 4,850.00 (92.97) 15,675.00 10,917.97 69.7%TOTAL-CARTS,BAGROOM & RANGE 16,230.35 13,612.00 2,618.35 57,017.43 60,863.00 (3,845.57) 226,051.00 169,033.57 74.8%643-CS-SALARIES & BENEFITS6431175 Employee Meals 240.00 240.00 - 840.00 840.00 - 3,120.00 2,280.00 73.1%6431325 Insurance-Workers Comp 237.66 120.00 117.66 971.85 796.00 175.85 4,073.00 3,101.15 76.1%6431800 Taxes-Employer Payroll 403.35 149.00 254.35 1,339.61 989.00 350.61 5,071.00 3,731.39 73.6%6431880 Wages-Hourly 2,362.52 1,200.00 1,162.52 9,705.11 7,950.00 1,755.11 40,732.00 31,026.89 76.2%6431882 Wages-Overtime 14.08 - 14.08 14.08 - 14.08 - (14.08) 0.0%Total-CS-SALARIES & BENEFITS3,257.61 1,709.00 1,548.61 12,870.65 10,575.00 2,295.65 52,996.00 40,125.35 75.7%643-CS-OTHER EXPENSES6433742 Supplies Expendable - 100.00 (100.00) 209.63 300.00 (90.37) 1,050.00 840.37 80.0%6439490 Miscellaneous - - - - - - 200.00 200.00 100.0%6439718 Safety Equipment & Training - 50.00 (50.00) - 200.00 (200.00) 600.00 600.00 100.0%6439820 Uniforms 883.73 750.00 133.73 883.73 975.00 (91.27) 1,900.00 1,016.27 53.5%6439999 Capital Expense-Capex 1,213.00 1,213.00 - 4,852.00 4,852.00 - 14,556.00 9,704.00 66.7%Total-CS-OTHER EXPENSES 2,096.73 2,113.00 (16.27) 5,945.36 6,327.00 (381.64) 18,306.00 12,360.64 67.5%Total-COURSE SERVICES 5,354.34 3,822.00 1,532.34 18,816.01 16,902.00 1,914.01 71,302.00 52,485.99 73.6%TOTAL OUTSIDE SERVICES21,584.69 17,434.00 4,150.69 75,833.44 77,765.00 (1,931.56) 297,353.00 209,158.92 70.3%Month to Date Year to DateSilverRock ResortOutside Services Expense StatementOctober 2007Annual Budget6 OctoberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense65-CH-SUPPLIES & MATERIALS6503742 Supplies-Expendable844.12 400.00 444.12 1,970.15 1,600.00 370.15 4,800.00 2,829.85 59.0%Total-CH-SUPPLIES & MATERIALS 844.12 400.00 444.12 1,970.15 1,600.00 370.15 4,800.00 2,829.85 59.0%65-CH-UTILITIES6507836 Utilities-Natural Gas146.80 300.00 (153.20) 1,071.87 1,200.00 (128.13) 3,600.00 2,528.13 70.2%6507838 Utilities-Sewer- 200.00 (200.00) - 800.00 (800.00) 2,400.00 2,400.00 100.0%6507840 Utilities-Telephone1,451.72 1,000.00 451.72 5,486.91 4,000.00 1,486.91 12,000.00 6,513.09 54.3%6507842 Utilities-Water423.69 200.00 223.69 1,046.60 800.00 246.60 2,400.00 1,353.40 56.4%6507844 Utilities-Cable548.12 317.00 231.12 1,571.95 1,268.00 303.95 3,800.00 2,228.05 58.6%Total-CH-UTILITIES 2,570.33 2,017.00 553.33 9,177.33 8,068.00 1,109.33 24,200.00 15,022.67 62.1%65-CH-OTHER EXPENSES6509091 Contract Services-Cleaning1,825.00 2,425.00 (600.00) 7,300.00 7,900.00 (600.00) 22,500.00 15,200.00 67.6%6509098 Contract Services-Refuse Dispose832.20 500.00 332.20 1,849.04 2,000.00 (150.96) 6,000.00 4,150.96 69.2%6509099 Contract Services-Security7,740.08 8,100.00 (359.92) 35,535.72 32,400.00 3,135.72 97,200.00 61,664.28 63.4%6509215 Flowers & Decorations45.22 100.00 (54.78) 81.51 400.00 (318.49) 2,600.00 2,518.49 96.9%6509490 Miscellaneous- 200.00 (200.00) - 800.00 (800.00) 2,400.00 2,400.00 100.0%6509718 Safety Equipment & Training- 100.00 (100.00) - 400.00 (400.00) 1,200.00 1,200.00 100.0%Total-CH-OTHER EXPENSES 10,442.50 11,425.00 (982.50) 44,766.27 43,900.00 866.27 131,900.00 87,133.73 66.1%65-CH-REPAIRS & MAINTENANCE6515685 CH-R&M-Building Structures335.94 200.00 135.94 2,555.94 800.00 1,755.94 2,400.00 (155.94) -6.5%6515686 CH-R&M-Restaurant Repairs- 400.00 (400.00) 606.56 1,600.00 (993.44) 4,800.00 4,193.44 87.4%6515690 CH-R&M-Equipment Repair662.32 400.00 262.32 829.82 1,600.00 (770.18) 4,800.00 3,970.18 82.7%Total-CH-REPAIRS & MAINTENANCE 998.26 1,000.00 (1.74) 3,992.32 4,000.00 (7.68) 12,000.00 8,007.68 66.7%Total CLUBHOUSE14,855.21 14,842.00 13.21 59,906.07 57,568.00 2,338.07 172,900.00 16,015.36 9.3%Month to Date Year to DateSilverRock ResortClubhouse Expense StatementOctober 2007Annual Budget7 OctoberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense66-MKT-SUPPLIES & MATERIALS6603762 Supplies-Office - 100.00 (100.00) 633.53 400.00 233.53 1,200.00 566.47 47.2%6603768 Supplies-Printing & Stationery 229.03 3,000.00 (2,770.97) 229.03 3,200.00 (2,970.97) 4,425.00 4,195.97 94.8%229.03 3,100.00 (2,870.97) 862.56 3,600.00 (2,737.44) 5,625.00 4,762.44 84.7%66-MKT-UTILITIES6607840 Utilities-Telephone 65.51 100.00 (34.49) 288.45 400.00 (111.55) 1,200.00 911.55 76.0%Total-MKT-UTILITIES 65.51 100.00 (34.49) 288.45 400.00 (111.55) 1,200.00 911.55 76.0%66-MKT-OTHER EXPENSES6609010 Advertising 19,137.22 14,312.00 4,825.22 68,912.64 47,408.00 21,504.64 221,834.00 152,921.36 68.9%6609040 Business Meals - 25.00 (25.00) 25.00 100.00 (75.00) 300.00 275.00 91.7%6609080 Collateral Material - 2,500.00 (2,500.00) - 2,500.00 (2,500.00) 9,000.00 9,000.00 100.0%6609102 Contract Services-Web Page 198.00 175.00 23.00 495.00 700.00 (205.00) 2,100.00 1,605.00 76.4%6609490 Miscellaneous - - - - - - 350.00 350.00 100.0%6609620 Postage 49.20 50.00 (0.80) 131.20 200.00 (68.80) 600.00 468.80 78.1%6609630 Promotion - 500.00 (500.00) - 1,000.00 (1,000.00) 6,500.00 6,500.00 0.0%6609633 Promotion-Community - 750.00 (750.00) - 975.00 (975.00) 2,925.00 2,925.00 100.0%6609634 Promotion-Media/Vender - 50.00 (50.00) - 50.00 (50.00) 700.00 - 0.0%6609150 Dues and Subscriptions - - - 320.00 - 320.00 735.00 415.00 56.5%6609820 Uniforms - 300.00 (300.00) - 300.00 (300.00) 600.00 600.00 100.0%Total-MKT-OTHER EXPENSES 19,384.42 18,662.00 722.42 69,883.84 53,233.00 16,650.84 245,644.00 175,060.16 71.3%Total-MARKETING19,678.96 21,862.00 (2,183.04) 71,034.85 57,233.00 13,801.85 252,469.00 180,734.15 71.6%Month to Date Year to DateSilverRock ResortMarketing Expense StatementOctober 2007Annual Budget8 OctoberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense67-G&A-SALARIES & BENEFITS6701175 Employee Meals 180.00 180.00 - 720.00 720.00 - 2,160.00 1,440.00 66.7%6701320 Insurance-Group1,754.70 1,980.00 (225.30) 7,067.24 7,920.00 (852.76) 23,760.00 16,692.76 70.3%6701325 Insurance-Workers Comp1,648.95 1,673.00 (24.05) 6,140.16 6,692.00 (551.84) 20,076.00 13,935.84 69.4%6701720 Salaries 14,027.04 14,000.00 27.04 51,412.56 56,000.00 (4,587.44) 168,000.00 116,587.44 69.4%6701800 Taxes-Employer Payroll 1,772.33 2,083.00 (310.67) 5,208.25 8,332.00 (3,123.75) 24,994.00 19,785.75 79.2%6701880 Wages-Hourly2,462.24 2,730.00 (267.76) 9,989.56 10,920.00 (930.44) 32,756.00 22,766.44 69.5%6701882 Wages-Overtime - - - - - - - - 0.0%Total-G&A-SALARIES & BENEFITS 21,845.26 22,646.00 (800.74) 80,537.77 90,584.00 (10,046.23) 271,746.00 191,208.23 70.4%67-G&A-SUPPLIES & MATERIALS6703740 Supplies-Computer127.02 500.00 (372.98) 2,365.00 2,000.00 365.00 6,000.00 3,635.00 60.6%6703762 Supplies-Office - 125.00 (125.00) 116.18 500.00 (383.82) 1,500.00 1,383.82 92.3%6703768 Supplies-Printing & Stationery- 100.00 (100.00) 102.07 300.00 (197.93) 3,200.00 3,097.93 96.8%6703778Supplies-Small Tools/Non-Capital - 100.00 (100.00) - 200.00 (200.00) 900.00 900.00 100.0%Total-G&A-SUPPLIES & MATERIALS 127.02 825.00 (697.98) 2,583.25 3,000.00 (416.75) 11,600.00 9,016.75 77.7%67-G&A-REPAIRS & MAINTENANCE6705690 Repairs & Maintenance-Equipment342.50 100.00 242.50 512.50 400.00 112.50 1,200.00 687.50 57.3%Total-G&A-REPAIRS & MAINTENANCE 342.50 100.00 242.50 512.50 400.00 112.50 1,200.00 687.50 57.3%67-G&A-OTHER EXPENSES6709020 Auto/Mileage Allowance400.00 400.00 - 1,600.00 1,600.00 - 4,800.00 3,200.00 66.7%6709090 Contract Services- - - 720.00 - 720.00 - 0.0%6709150 Dues & Subscriptions- 50.00 (50.00) 270.00 300.00 (30.00) 1,500.00 1,230.00 82.0%6709180 Employee Recruiting/Relocation243.00 1,000.00 (757.00) 477.00 2,000.00 (1,523.00) 4,600.00 4,123.00 89.6%6709197 Equipment Rental380.08 350.00 30.08 1,684.04 1,400.00 284.04 4,200.00 2,515.96 59.9%6709202 Fees-Bank42.39 300.00 (257.61) 235.16 1,200.00 (964.84) 3,600.00 3,364.84 93.5%6709208 Fees-Payroll Processing595.24 550.00 45.24 2,167.45 2,200.00 (32.55) 6,600.00 4,432.55 67.2%6709220 Freight/Delivery48.84 50.00 (1.16) 283.58 200.00 83.58 600.00 316.42 52.7%6709490 Miscellaneous - 100.00 (100.00) - 400.00 (400.00) 1,200.00 1,200.00 100.0%6709620 Postage/Mail Services 232.38 75.00 157.38 308.26 300.00 8.26 900.00 591.74 65.7%6709625 Professional Fees- 400.00 (400.00) - 1,600.00 (1,600.00) 4,800.00 4,800.00 100.0%6709636 Promotion/Entertainment- 100.00 (100.00) - 400.00 (400.00) 1,200.00 1,200.00 100.0%6709722 Seminars & Training- 100.00 (100.00) 250.00 400.00 (150.00) 900.00 650.00 72.2%6709810 Travel - - - - 100.00 (100.00) 1,100.00 1,100.00 100.0%6709820 Uniforms 87.12 150.00 (62.88) 87.12 375.00 (287.88) 1,050.00 962.88 91.7%Total-G&A-OTHER EXPENSES 2,029.05 3,625.00 (1,595.95) 8,082.61 12,475.00 (4,392.39) 37,050.00 29,687.39 80.1%Total-GENERAL & ADMINISTRATIVE24,343.83 27,196.00 (2,852.17) 91,716.13 106,459.00 (14,742.87) 321,596.00 230,599.87 71.7%Month to Date Year to DateSilverRock ResortGeneral & Administrative Expense StatementOctober 2007Annual Budget9 OctoberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense68-LEASES6800192 Equipment Leases-Carts 10,239.47 9,800.00 439.47 40,957.88 39,200.00 1,757.88 117,600.00 76,642.12 65.2%6800193 Equipment Leases-Course Maint 18,209.15 20,000.00 (1,790.85) 70,670.15 80,000.00 (9,329.85) 240,000.00 169,329.85 70.6%6800194 Equipment Leases-Trailer 764.83 600.00 164.83 2,933.50 2,400.00 533.50 7,200.00 4,266.50 59.3%6800195 Equipment Leases-Software 1,762.93 1,525.00 237.93 6,661.72 6,100.00 561.72 18,300.00 11,638.28 63.6%6800196 Equipment Leases-GPS 6,840.14 7,400.00 (559.86) 27,360.56 29,600.00 (2,239.44) 88,800.00 61,439.44 69.2%6800198 Equipment Leases-Others 1,598.22 - 1,598.22 8,334.27 - 8,334.27 - - 0.0%Total-LEASES39,414.74 39,325.00 89.74 156,918.08 157,300.00 (381.92) 471,900.00 323,316.19 68.5%69-MISC OTHER EXPENSES6900096 Contract Srvcs-Management Fee 12,849.10 14,743.00 (1,893.90) 63,752.44 66,731.00 (2,978.56) 111,277.00 47,524.56 42.7%6900210 FF&E Reserve 1,498.80 1,973.00 (474.20) 8,651.43 9,759.00 (1,107.57) 71,686.00 63,034.57 87.9%6900800 Personal Property Taxes - - - 7,295.39 20,000.00 (12,704.61) 20,000.00 12,704.61 63.5%6900323 Insurance-Commercial - 4,200.00 (4,200.00) 7,718.76 16,800.00 (9,081.24) 50,400.00 42,681.24 84.7%Total-MISC OTHER EXPENSES14,347.90 20,916.00 (6,568.10) 87,418.02 113,290.00 (25,871.98) 253,363.00 165,944.98 65.5%Annual BudgetMonth to Date Year to Date Operating Leases & Miscellaneous Other Expense StatementOctober 200710 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report‐2007‐20082007 2007 2007 2007 2007 2007Comp CategoryJulyAugustSeptemberOctoberNovemberDecemberMedia1 4 16 0SalesPromotionGolf Industry72022VIPCelebrityPGA Comp52 54 48 22Charity/Gift Certificate8Rain/Wind Checks41Club Staff88 99 98 35LQ HS Golf148 177 196 58 0 011