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03 September 2007 SilverRock Resort - Monthly Financial Statement Monthly Financial Statements July 2007 – September 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 SeptemberFinal Budget Variance Percentages Unfavorable (-) Favorable (+) Final Budget Variance Annual Budget Unemcumb. % Bdgt Income400000 Golf Green Fee Revenue 165,268.50 164,572.00 696.50 0.4% 346,073.50 325,644.00 20,429.50 3,161,211.00 2,815,137.50 11%401000 Miscellaneous Golf Revenue 7,025.00 5,063.00 1,962.00 38.8% 14,810.00 12,813.00 1,997.00 83,725.00 68,915.00 18%410000 Revenue-Golf Shop 21,421.99 22,751.00 (1,329.01) -5.8% 45,594.02 49,351.00 (3,756.98) 327,370.00 281,775.98 14%420000 Revenue-F&B Concession 500.00 500.00 - 0.0% 1,500.00 1,500.00 - 12,000.00 10,500.00 13%890000 Interest Income 17.52 - 17.52 0.0% 94.76 - 94.76 - (94.76) 0%Total Income 194,233.01 192,886.00 1,347.01 0.7% 408,072.28 389,308.00 18,764.28 3,584,306.00 3,176,233.72 11%Cost of Goods Sold510000 COS-Golf Shop 12,814.86 12,075.05 739.81 -6.1% 25,593.89 26,193.05 599.16 173,752.00 148,158.11 15%Total COS 12,814.86 12,075.05 739.81 -6.1% 25,593.89 26,193.05 599.16 173,752.00 148,158.11 15%Gross Profit 181,418.15 180,810.95 607.20 0.3% 382,478.39 363,114.95 19,363.44 3,410,554.00 3,028,075.61 11%610000 Golf Pro Shop 17,563.35 20,377.00 2,813.65 13.8% 48,369.36 56,523.00 8,153.64 256,699.00 208,329.64 19%630000 Course Maintenance 153,622.32 151,665.00 (1,957.32) -1.3% 420,228.98 427,827.00 7,598.02 1,796,367.00 1,376,138.02 23%640000 Outside Services 20,236.18 20,665.00 428.82 2.1% 54,248.75 60,331.00 6,082.25 297,353.00 243,104.25 18%650000 Clubhouse 16,542.80 14,242.00 (2,300.80) -16.2% 45,050.86 42,726.00 (2,324.86) 172,900.00 127,849.14 26%660000 Marketing 23,645.77 20,357.00 (3,288.77) -16.2% 51,355.89 35,371.00 (15,984.89) 252,469.00 201,113.11 20%670000 General & Administrative 22,557.61 27,271.00 4,713.39 17.3% 67,368.80 79,263.00 11,894.20 321,596.00 254,227.20 21%680000 Leases 38,793.74 39,325.00 531.26 1.4% 117,503.34 117,975.00 471.66 471,900.00 354,396.66 25%690000 Miscellaneous Other Expense 19,128.80 37,284.00 18,155.20 48.7% 73,070.12 92,374.00 19,303.88 253,363.00 180,292.88 29%Total Expenses 312,090.57 331,186.00 19,095.43 5.8% 877,196.10 912,390.00 35,193.90 3,822,647.00 2,945,450.90 23%Net Income(130,672.42) (150,375.05) 19,702.63 13.1%(494,717.71) (549,275.05) 54,557.34 (412,093.00) 82,624.71 120%Rounds of Golf PlayedPaid Rounds Played 3,253 3,251 2 0.1% 7,361 7,051 310 40,580 33,219 18%Ave $ Per Paid Round Green Fee 50.80 50.62 0.18 0.4% 47.01 46.18 0.83 77.90 30.89 60%Ave $ Per Paid Round Merchandise 6.59 7.00 (0.41) -5.9% 6.19 7.00 (0.81) 8.07 1.88 77%Ave $ Per Paid Miscellaneous 2.16 1.56 0.60 38.7% 2.01 1.82 0.19 2.06 - 0%Month to Date Year to DateSeptember 2007SilverRock ResortSummary Operating Income Statement1 Income SeptemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4000000 Revenue-Fees 165,268.50 164,572.00 696.50 346,073.50 325,644.00 20,429.50 3,161,211.002,815,137.5011%4010000 Rider Fee 775.00 325.00 450.00 1,750.00 705.00 1,045.00 4,058.002,308.0043%4040000 Club Rental 3,500.00 1,138.00 2,362.00 5,680.00 2,468.00 3,212.00 14,203.008,523.0040%4050000 Driving Range 2,705.00 2,600.00 105.00 6,139.00 5,640.00 499.00 32,464.0026,325.0019%4060000 Handicap Fees 45.00 - 45.00 325.00 - 325.00 8,000.00 7,675.004%4080000 GPS Advertising - 1,000.00 (1,000.00) - 3,000.00 (3,000.00) 12,000.00 12,000.000%4090000 Ball Retriever/Subcontract - - - 916.00 1,000.00 (84.00) 4,000.00 3,084.0023%4091000 Golf Professional Rental Fee - - - - - - 9,000.00 - 0% Total Revenue Fees 172,293.50 169,635.00 2,658.50 360,883.50 338,457.00 22,426.50 3,244,936.00 2,875,052.50 11%Total Income172,293.50 169,635.00 2,658.50 360,883.50 338,457.00 22,426.50 3,244,936.00 2,875,052.50 11%SilverRock ResortStatement of Fees RevenueSeptember 2007Month to Date Year to Date Annual Budget2 Income SeptemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4100000 Sales Miscellaneous 732.00 - 732.00 2,278.00 - 2,278.00 4100110 Sales Hard Goods 9,235.28 7,963.00 1,272.28 19,076.86 17,273.00 1,803.86 114,580.00 95,503.14 17%4100112 Sales-Soft Goods 17,294.73 14,788.00 2,506.73 33,626.14 32,078.00 1,548.14 212,791.00 179,164.86 16%5100639 GS-Discounts-Mdse (5,840.02) - (5,840.02) (9,386.98) - (9,386.98) - 9,386.98 0% Total Revenue Golf Shop 21,421.99 22,751.00 (1,329.01) 45,594.02 49,351.00 (3,756.98) 327,371.00 284,054.98 13%COS 5100150 COS-GS-Hard Goods 6,577.10 4,379.65 2,197.45 11,987.72 9,500.15 2,487.57 63,019.00 51,031.28 19%5100151 COS-GS-Soft Goods 6,237.76 8,133.40 (1,895.64) 13,606.17 17,642.90 (4,036.73) 117,035.05 103,428.88 12%5100152 COS-GS-Purchase Disc - (626.00) 626.00 - (1,358.00) 1,358.00 (9,003.00) (9,003.00) 0%5100220 COS-GS-Freight Merch - 188.00 (188.00) - 408.00 (408.00) 2,701.00 2,701.00 0%Cost of Sales - Golf Shop 12,814.86 12,075.05 739.81 25,593.89 26,193.05 (599.16) 173,752.05 148,158.16 15%Gross Profit 8,607.13 10,675.95 (2,068.82) 20,000.13 23,157.95 (3,157.82) 153,618.95 135,896.82 12%COS % 59.8% 53.1% -6.7% 56.1% 53.1% -3.1% 53.1% 52.2% 2%Expense61-PS-SALARIES & BENEFITS6101175 Employee Meals 360.00 360.00 - 960.00 960.00 - 4,680.00 3,720.00 21%6101320 Insurance Group 3,532.05 1,800.00 1,732.05 8,656.16 5,400.00 3,256.16 35,640.00 26,983.84 24%6101325 Insurance-Workers Comp 1,079.49 1,324.00 (244.51) 2,968.26 3,736.00 (767.74) 16,247.00 13,278.74 18%6101720 Salaries 5,513.28 3,499.00 2,014.28 15,821.08 10,497.00 5,324.08 72,000.00 56,178.92 22%6101800 Taxes-Employer Payroll 932.29 1,649.00 (716.71) 2,675.81 4,653.00 (1,977.19) 20,228.00 17,552.19 13%6101880 Wages-Hourly 5,277.03 9,745.00 (4,467.97) 13,856.89 26,877.00 (13,020.11) 90,474.00 76,617.11 15%6101882 Wages-Overtime 4.50 - 4.50 4.50 - 4.50 - 952.88 0%Total -PS-SALARIES & BENEFITS 16,698.64 18,377.00 (1,678.36) 44,942.70 52,123.00 (7,180.30) 239,269.00 195,283.68 18%61-PS OTHER EXPENSES6103762 Supplies-Office 198.36 150.00 48.36 748.35 450.00 298.35 1,525.00 776.65 49%6109090 Contract Services 500.00 500.00 - 1,500.00 1,500.00 - 6,000.00 4,500.00 25%6109220 Freight & Delivery 59.45 - 59.45 462.80 - 462.80 75.00 (387.80) 617%6109490 Miscellaneous - - - - - - 450.00 450.00 0%6109150 Dues and Subscriptions - - - - - - 2,000.00 2,000.00 0%6109500 ProShop-Over/Short (1.76) - (1.76) 29.98 - 29.98 (29.98) 0%6109722 Seminars/Training - 1,250.00 (1,250.00) 372.75 2,150.00 (1,777.25) 5,490.00 5,117.25 7%6109810 Travel - Merchandise - - - - - - 90.00 90.00 0%6109820 Uniforms - 100.00 (100.00) - 300.00 (300.00) 1,800.00 1,800.00 0%6117840 Telephones 108.66 - 108.66 312.78 - 312.78 - (312.78) 0%Total PS-OTHER EXPENSES 864.71 2,000.00 (1,135.29) 3,426.66 4,400.00 (973.34) 17,430.00 14,003.34 20%Total Expenses 17,563.35 20,377.00 (2,813.65) 48,369.36 56,523.00 (8,153.64) 256,699.00 209,287.02 18%Net Income(8,956.22) (9,701.05) 744.83 (28,369.23) (33,365.05) 4,995.82 (103,080.05) (73,390.20) -29%Month to Date Year to Date Annual BudgetSilverRock ResortGolf Shop Income StatementSeptember 20073 SeptemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense63-CM-SALARIES & BENEFITS6311175 Employee Meals 240.00 240.00 - 720.00 720.00 - 2,880.00 2,160.00 75.0%6311320 Insurance-Group 16,777.16 8,850.00 7,927.16 43,806.80 26,550.00 17,256.80 106,200.00 62,393.20 58.8%6311325 Insurance-Workers Comp 6,122.37 5,810.00 312.37 17,370.78 17,430.00 (59.22) 72,453.00 55,082.22 76.0%6311720 Salaries 11,038.48 12,331.00 (1,292.52) 33,115.44 36,993.00 (3,877.56) 148,000.00 114,884.56 77.6%6311800 Taxes-Employer Payroll 4,867.77 7,234.00 (2,366.23) 13,752.41 21,702.00 (7,949.59) 90,868.00 77,115.59 84.9%6311880 Wages-Hourly 57,705.33 45,772.00 11,933.33 143,518.29 137,316.00 6,202.29 565,951.00 422,432.71 74.6%6311882 Wages-Overtime 898.75 - 898.75 2,586.52 - 2,586.52 15,916.00 13,329.48 83.7%Total-CM-SALARIES & BENEFITS97,649.86 80,237.00 17,412.86 254,870.24 240,711.00 14,159.24 1,002,268.00 747,397.76 74.6%63-CM-SUPPLIES & MATERIALS6313734 Chemicals 1,317.14 2,000.00 (682.86) 5,121.70 5,400.00 (278.30) 12,300.00 7,178.30 58.4%6313744 Fertilizer 9,588.79 4,000.00 5,588.79 26,582.10 14,000.00 12,582.10 68,950.00 42,367.90 61.4%6313746 Flowers/Plants 2,241.20 1,000.00 1,241.20 3,316.00 1,000.00 2,316.00 3,500.00 184.00 5.3%6313748 Fuel-Gasoline 2,186.78 3,400.00 (1,213.22) 8,474.83 10,200.00 (1,725.17) 41,400.00 32,925.17 79.5%6313750 Golf Course Accessories 133.35 200.00 (66.65) 455.52 600.00 (144.48) 4,200.00 3,744.48 89.2%6313756 POA Control - - - 162.78 - 162.78 6,000.00 5,837.22 97.3%6313766 Pesticides 300.80 - 300.80 308.80 - 308.80 11,600.00 11,291.20 97.3%6313762 Supplies-Office 239.28 100.00 139.28 681.64 300.00 381.64 1,200.00 518.36 43.2%6313774 Sand - - - 1,075.63 780.00 295.63 6,660.00 5,584.37 83.8%6313775 Sand-Bunkers - 5,000.00 (5,000.00) - 5,000.00 (5,000.00) 5,000.00 5,000.00 100.0%6313776 Seed 161.63 250.00 (88.37) 969.76 950.00 19.76 93,750.00 92,780.24 99.0%6313778 Small Tools & Non-Capital Equip 2,010.64 5,550.00 (3,539.36) 2,085.86 5,900.00 (3,814.14) 6,500.00 4,414.14 67.9%6313780 Sod 842.70 1,000.00 (157.30) 3,637.35 3,000.00 637.35 5,750.00 2,112.65 36.7%6313782 Topdressing 564.78 - 564.78 2,740.79 1,300.00 1,440.79 3,900.00 1,159.21 29.7%Total-CM-SUPPLIES & MATERIALS19,587.09 22,500.00 (2,912.91) 55,612.76 48,430.00 7,182.76 270,710.00 215,097.24 79.5%63-CM-REPAIRS & MAINTENANCE6315095 CM-R&M-Contract Lake Maint 883.75 1,500.00 (616.25) 3,603.61 4,500.00 (896.39) 14,000.00 10,396.39 74.3%6315685 CM-R&M-Bldngs & Othr Structures - - - 229.00 - 229.00 500.00 271.00 54.2%6315690 CM-R&M-Equipment 3,865.22 4,000.00 (134.78) 10,974.28 9,900.00 1,074.28 28,800.00 17,825.72 61.9%6315692 CM-R&M-Irrigation System 162.59 2,200.00 (2,037.41) 1,405.93 5,800.00 (4,394.07) 15,450.00 14,044.07 90.9%6315696 CM-R&M-Pumps 549.43 1,000.00 (450.57) 6,885.78 3,000.00 3,885.78 5,000.00 (1,885.78) -37.7%6315815 CM-R&M-Trees-Pruning Etc - - - 1,905.00 - 1,905.00 4,000.00 2,095.00 52.4%Total-CM-REPAIRS & MAINTENANCE 5,460.99 8,700.00 (3,239.01) 25,003.60 23,200.00 1,803.60 67,750.00 42,746.40 63.1%63-CM-UTILTIES6317830 Utilities-Electricity-Bldngs - 1,765.00 (1,765.00) - 7,190.00 (7,190.00) 22,080.00 22,080.00 100.0%6317836 Utilities-Natural Gas/LPG 22.87 - 22.87 48.57 - 48.57 (48.57) 0.0%6317840 Telephones 861.70 600.00 261.70 2,179.38 1,800.00 379.38 7,200.00 5,020.62 69.7%Total-CM-UTILITIES 884.57 2,365.00 (1,480.43) 2,227.95 8,990.00 (6,762.05) 29,280.00 27,052.05 92.4%63-CM-OTHER EXPENSES6319020 Auto Mileage/Allowance 500.00 500.00 - 1,500.00 1,500.00 - 6,000.00 4,500.00 75.0%6319099 Contract Svcs-Security 210.00 - 210.00 210.00 - 210.00 (210.00) 0.0%6319100 Contract Svcs-Soil/Tissue Test - 2,000.00 (2,000.00) - 2,000.00 (2,000.00) 4,000.00 4,000.00 100.0%6319101 Contract Svcs-Trash Removal 1,231.91 600.00 631.91 4,963.19 1,800.00 3,163.19 7,200.00 2,236.81 31.1%6319150 Dues & Subscriptions - - - - 200.00 (200.00) 900.00 900.00 100.0%6319170 Employee Education - 50.00 (50.00) - 150.00 (150.00) 600.00 600.00 100.0%6319197 Equipment Rental - 150.00 (150.00) - 500.00 (500.00) 4,200.00 4,200.00 100.0%6319206 Licenses & Permits - - - - 200.00 (200.00) 1,600.00 1,600.00 100.0%6319490 Miscellaneous 30.00 100.00 (70.00) 3,898.89 300.00 3,598.89 1,200.00 (2,698.89) -224.9%6319500 Propane/Natural Gas - 150.00 (150.00) - 450.00 (450.00) 1,800.00 1,800.00 100.0%6319718 Safety Equipment & Training 458.17 1,700.00 (1,241.83) 663.69 1,900.00 (1,236.31) 3,400.00 2,736.31 80.5%6319822 Uniforms 533.67 720.00 (186.33) 1,788.86 2,160.00 (371.14) 9,390.00 7,601.14 80.9%6319999 Capital Expense-Capex 3,700.00 3,700.00 - 11,100.00 11,100.00 - 44,400.00 33,300.00 75.0%Total-CM-OTHER EXPENSES 6,663.75 9,670.00 (3,006.25) 24,124.63 22,260.00 1,864.63 84,690.00 60,565.37 71.5%Month to Date Year to DateSilverRock ResortCourse Maintenance Expense StatementSeptember 2007Annual Budget4 SeptemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget632-CM-LANDSCAPE MAINTENANCE632-CM-LM-SALARIES & BENEFITS6321320 Insurance-Group 1,104.00 1,104.00 - 3,312.00 3,312.00 - 13,248.00 9,936.00 75.0%6321325 Insurance-Workers Comp 1,222.54 1,375.00 (152.46) 2,315.14 4,003.00 (1,687.86) 16,163.00 13,847.86 85.7%6321800 Taxes-Employer Payroll 1,188.71 1,749.00 (560.29) 2,250.66 5,021.00 (2,770.34) 20,369.00 18,118.34 89.0%6321880 Wages-Hourly 11,862.86 13,141.00 (1,278.14) 22,614.61 39,423.00 (16,808.39) 157,692.00 135,077.39 85.7%6321882 Wages-Overtime 362.50 910.00 (547.50) 535.96 910.00 (374.04) 5,915.00 5,379.04 90.9%Total-CM-LM-SALARIES & BENEFITS15,740.61 18,279.00 (2,538.39) 31,028.37 52,669.00 (21,640.63) 213,387.00 172,422.63 80.8%632-CM-LM-SUPPLIES & MATERIALS6323778 Small Tools - 100.00 (100.00) - 300.00 (300.00) 1,025.00 1,025.00 100.0%6323788 Uniforms 177.93 240.00 (62.07) 722.12 720.00 2.12 2,880.00 2,157.88 74.9%Total-CM-LM-SUPPLIES & MATERIALS177.93 340.00 (162.07) 722.12 1,020.00 (297.88) 3,905.00 3,182.88 81.5%632-CM-LM-REPAIRS & MAINTENANCE6325687 CM-LM-R&M-Drip Irrigation 245.12 500.00 (254.88) 245.12 1,000.00 (754.88) 4,250.00 4,004.88 94.2%Total-CM-LM-REPAIRS & MAINTENANCE 245.12 500.00 (254.88) 245.12 1,000.00 (754.88) 4,250.00 4,004.88 94.2%632-CM-WATER & ENERGY6337834 Utilities-Electricity-Pumping 6,430.39 8,500.00 (2,069.61) 20,181.85 25,500.00 (5,318.15) 102,000.00 81,818.15 80.2%6337842 Utilities-Water782.01 574.00 208.01 6,212.34 4,047.00 2,165.34 18,126.00 11,913.66 65.7%Total-CM-WATER & ENERGY7,212.40 9,074.00 (1,861.60) 26,394.19 29,547.00 (3,152.81) 120,126.00 93,731.81 78.0%153,622.32 151,665.00 1,957.32 420,228.98 427,827.00 (7,598.02) 1,796,366.00 1,366,201.02 76.1%Silverrock ResortCourse Maintenance Expense StatementSeptember 2007Annual BudgetTotal -COURSE MAINTENANCEMonth to Date Year to Date5 SeptemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense641-CBR-SALARIES & BENEFITS6411175 Employee Meals 420.00 420.00 - 1,260.00 1,260.00 - 6,180.00 4,920.00 79.6%6411320 Insurance-Group 66.25 720.00 (653.75) 190.79 2,160.00 (1,969.21) 8,640.00 8,449.21 97.8%6411325 Insurance-Workers Comp 635.87 1,226.00 (590.13) 1,918.15 3,704.00 (1,785.85) 16,097.00 14,178.85 88.1%6411800 Taxes-Employer Payroll 655.49 1,063.00 (407.51) 2,075.73 3,211.00 (1,135.27) 13,956.00 11,880.27 85.1%6411880 Wages-Hourly 6,274.78 8,540.00 (2,265.22) 19,044.73 25,790.00 (6,745.27) 112,095.00 93,050.27 83.0%6411882 Wages-Overtime 83.85 - 83.85 136.79 - 136.79 - (136.79) 0.0%Total-CBR-SALARIES & BENEFITS8,136.24 11,969.00 (3,832.76) 24,626.19 36,125.00 (11,498.81) 156,968.00 132,341.81 84.3%641-CBR-SUPPLIES & MATERIALS6413732 Supplies-Carts 598.17 - 598.17 1,151.74 - 1,151.74 2,350.00 1,198.26 51.0%6413742 Supplies-Expendable - 150.00 (150.00) 434.62 450.00 (15.38) 5,050.00 4,615.38 91.4%6413752 Supplies-Range Balls - - - - - - 6,000.00 6,000.00 100.0%6413762 Supplies-Office - 25.00 (25.00) - 75.00 (75.00) 525.00 525.00 100.0%6413768 Supplies-Printing and Stationary 1,161.00 - 1,161.00 1,161.00 - 1,161.00 420.00 (741.00) -176.4%6413786 Supplies-Towels - 72.00 (72.00) 625.26 216.00 409.26 2,292.00 1,666.74 72.7%6413796 Supplies-Bottled Water3,222.76 1,620.00 1,602.76 7,196.60 4,800.00 2,396.60 22,631.00 15,434.40 68.2%Total-CBR-SUPPLIES & MATERIALS4,981.93 1,867.00 3,114.93 10,569.22 5,541.00 5,028.22 39,268.00 28,698.78 73.1%641-CBR-REPAIRS & MAINTENANCE6415096 CBR-R&M-Contract Services-Carts 720.00 720.00 - 2,160.00 2,160.00 - 8,640.00 6,480.00 75.0%6415690 CBR-R&M-Equipment 75.00 125.00 (50.00) 687.30 375.00 312.30 1,500.00 812.70 54.2%6415695 CBR-R&M-Cart Maintenance & Repair 150.00 500.00 (350.00) 150.00 1,500.00 (1,350.00) 4,000.00 3,850.00 96.3%Total-CBR-REPAIRS & MAINTENANCE 945.00 1,345.00 (400.00) 2,997.30 4,035.00 (1,037.70) 14,140.00 11,142.70 78.8%641-CBR-OTHER EXPENSES6419093 Contract Services-Handicaps 70.00 100.00 (30.00) 250.00 300.00 (50.00) 5,000.00 4,750.00 95.0%6419094 Contract Services-Laundry/Linen 1,353.93 250.00 1,103.93 2,344.37 750.00 1,594.37 3,000.00 655.63 21.9%6419220 Freight/Delivery - 75.00 (75.00) - 225.00 (225.00) 900.00 900.00 100.0%6419490 Miscellaneous - 75.00 (75.00) - 275.00 (275.00) 1,150.00 1,150.00 100.0%6419820 Uniforms - - - - - - 5,625.00 5,625.00 100.0%Total-CBR-OTHER EXPENSES 1,423.93 500.00 923.93 2,594.37 1,550.00 1,044.37 15,675.00 13,080.63 83.4%TOTAL-CARTS,BAGROOM & RANGE 15,487.10 15,681.00 (193.90) 40,787.08 47,251.00 (6,463.92) 226,051.00 185,263.92 82.0%643-CS-SALARIES & BENEFITS6431175 Employee Meals 240.00 240.00 - 600.00 600.00 - 3,120.00 2,520.00 80.8%6431325 Insurance-Workers Comp 251.40 270.00 (18.60) 734.19 676.00 58.19 4,073.00 3,338.81 82.0%6431800 Taxes-Employer Payroll 320.64 336.00 (15.36) 936.26 840.00 96.26 5,071.00 4,134.74 81.5%6431880 Wages-Hourly 2,514.41 2,700.00 (185.59) 7,342.59 6,750.00 592.59 40,732.00 33,389.41 82.0%6431882 Wages-Overtime - - - - - - - - 0.0%Total-CS-SALARIES & BENEFITS3,326.45 3,546.00 (219.55) 9,613.04 8,866.00 747.04 52,996.00 43,382.96 81.9%643-CS-OTHER EXPENSES6433742 Supplies Expendable 209.63 100.00 109.63 209.63 200.00 9.63 1,050.00 840.37 80.0%6439490 Miscellaneous - - - - - - 200.00 200.00 100.0%6439718 Safety Equipment & Training - 50.00 (50.00) - 150.00 (150.00) 600.00 600.00 100.0%6439820 Uniforms - 75.00 (75.00) - 225.00 (225.00) 1,900.00 1,900.00 100.0%6439999 Capital Expense-Capex 1,213.00 1,213.00 - 3,639.00 3,639.00 - 14,556.00 10,917.00 75.0%Total-CS-OTHER EXPENSES 1,422.63 1,438.00 (15.37) 3,848.63 4,214.00 (365.37) 18,306.00 14,457.37 79.0%Total-COURSE SERVICES 4,749.08 4,984.00 (234.92) 13,461.67 13,080.00 381.67 71,302.00 57,840.33 81.1%TOTAL OUTSIDE SERVICES20,236.18 20,665.00 (428.82) 54,248.75 60,331.00 (6,082.25) 297,353.00 228,646.88 76.9%Month to Date Year to DateSilverRock ResortOutside Services Expense StatementSeptember 2007Annual Budget6 SeptemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense65-CH-SUPPLIES & MATERIALS6503742 Supplies-Expendable14.57 400.00 (385.43) 1,126.03 1,200.00 (73.97) 4,800.00 3,673.97 76.5%Total-CH-SUPPLIES & MATERIALS 14.57 400.00 (385.43) 1,126.03 1,200.00 (73.97) 4,800.00 3,673.97 76.5%65-CH-UTILITIES6507836 Utilities-Natural Gas269.14 300.00 (30.86) 925.07 900.00 25.07 3,600.00 2,674.93 74.3%6507838 Utilities-Sewer- 200.00 (200.00) - 600.00 (600.00) 2,400.00 2,400.00 100.0%6507840 Utilities-Telephone1,027.67 1,000.00 27.67 4,035.19 3,000.00 1,035.19 12,000.00 7,964.81 66.4%6507842 Utilities-Water390.89 200.00 190.89 622.91 600.00 22.91 2,400.00 1,777.09 74.0%6507844 Utilities-Cable350.77 317.00 33.77 1,023.83 951.00 72.83 3,800.00 2,776.17 73.1%Total-CH-UTILITIES 2,038.47 2,017.00 21.47 6,607.00 6,051.00 556.00 24,200.00 17,593.00 72.7%65-CH-OTHER EXPENSES6509091 Contract Services-Cleaning1,825.00 1,825.00 - 5,475.00 5,475.00 - 22,500.00 17,025.00 75.7%6509098 Contract Services-Refuse Dispose476.96 500.00 (23.04) 1,016.84 1,500.00 (483.16) 6,000.00 4,983.16 83.1%6509099 Contract Services-Security12,187.80 8,100.00 4,087.80 27,795.64 24,300.00 3,495.64 97,200.00 69,404.36 71.4%6509215 Flowers & Decorations- 100.00 (100.00) 36.29 300.00 (263.71) 2,600.00 2,563.71 98.6%6509490 Miscellaneous- 200.00 (200.00) - 600.00 (600.00) 2,400.00 2,400.00 100.0%6509718 Safety Equipment & Training- 100.00 (100.00) - 300.00 (300.00) 1,200.00 1,200.00 100.0%Total-CH-OTHER EXPENSES 14,489.76 10,825.00 3,664.76 34,323.77 32,475.00 1,848.77 131,900.00 97,576.23 74.0%65-CH-REPAIRS & MAINTENANCE6515685 CH-R&M-Building Structures- 200.00 (200.00) 2,220.00 600.00 1,620.00 2,400.00 180.00 7.5%6515686 CH-R&M-Restaurant Repairs- 400.00 (400.00) 606.56 1,200.00 (593.44) 4,800.00 4,193.44 87.4%6515690 CH-R&M-Equipment Repair- 400.00 (400.00) 167.50 1,200.00 (1,032.50) 4,800.00 4,632.50 96.5%Total-CH-REPAIRS & MAINTENANCE - 1,000.00 (1,000.00) 2,994.06 3,000.00 (5.94) 12,000.00 9,005.94 75.0%Total CLUBHOUSE16,542.80 14,242.00 2,300.80 45,050.86 42,726.00 2,324.86 172,900.00 18,011.88 10.4%Month to Date Year to DateSilverRock ResortClubhouse Expense StatementSeptember 2007Annual Budget7 SeptemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense66-MKT-SUPPLIES & MATERIALS6603762 Supplies-Office 202.47 100.00 102.47 633.53 300.00 333.53 1,200.00 566.47 47.2%6603768 Supplies-Printing & Stationery - 200.00 (200.00) - 200.00 (200.00) 4,425.00 4,425.00 100.0%202.47 300.00 (97.53) 633.53 500.00 133.53 5,625.00 4,991.47 88.7%66-MKT-UTILITIES6607840 Utilities-Telephone 71.08 100.00 (28.92) 222.94 300.00 (77.06) 1,200.00 977.06 81.4%Total-MKT-UTILITIES 71.08 100.00 (28.92) 222.94 300.00 (77.06) 1,200.00 977.06 81.4%66-MKT-OTHER EXPENSES6609010 Advertising 23,191.22 19,132.00 4,059.22 49,775.42 33,096.00 16,679.42 221,834.00 172,058.58 77.6%6609040 Business Meals - 25.00 (25.00) 25.00 75.00 (50.00) 300.00 275.00 91.7%6609080 Collateral Material - - - - - - 9,000.00 9,000.00 100.0%6609102 Contract Services-Web Page 99.00 175.00 (76.00) 297.00 525.00 (228.00) 2,100.00 1,803.00 85.9%6609490 Miscellaneous - - - - - - 350.00 350.00 100.0%6609620 Postage 82.00 50.00 32.00 82.00 150.00 (68.00) 600.00 518.00 86.3%6609630 Promotion - 500.00 (500.00) - 500.00 (500.00) 6,500.00 6,500.00 0.0%6609633 Promotion-Community - 75.00 (75.00) - 225.00 (225.00) 2,925.00 2,925.00 100.0%6609634 Promotion-Media/Vender - - - - - - 700.00 - 0.0%6609150 Dues and Subscriptions - - - 320.00 - 320.00 735.00 415.00 56.5%6609820 Uniforms - - - - - - 600.00 600.00 100.0%Total-MKT-OTHER EXPENSES 23,372.22 19,957.00 3,415.22 50,499.42 34,571.00 15,928.42 245,644.00 194,444.58 79.2%Total-MARKETING23,645.77 20,357.00 3,288.77 51,355.89 35,371.00 15,984.89 252,469.00 200,413.11 79.4%Month to Date Year to DateSilverRock ResortMarketing Expense StatementSeptember 2007Annual Budget8 SeptemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense67-G&A-SALARIES & BENEFITS6701175 Employee Meals 180.00 180.00 - 540.00 540.00 - 2,160.00 1,620.00 75.0%6701320 Insurance-Group1,917.70 1,980.00 (62.30) 5,312.54 5,940.00 (627.46) 23,760.00 18,447.46 77.6%6701325 Insurance-Workers Comp1,511.11 1,673.00 (161.89) 4,491.21 5,019.00 (527.79) 20,076.00 15,584.79 77.6%6701720 Salaries 12,516.72 14,000.00 (1,483.28) 37,385.52 42,000.00 (4,614.48) 168,000.00 130,614.48 77.7%6701800 Taxes-Employer Payroll 1,156.07 2,083.00 (926.93) 3,435.92 6,249.00 (2,813.08) 24,994.00 21,558.08 86.3%6701880 Wages-Hourly2,594.32 2,730.00 (135.68) 7,527.32 8,190.00 (662.68) 32,756.00 25,228.68 77.0%6701882 Wages-Overtime - - - - - - - - 0.0%Total-G&A-SALARIES & BENEFITS 19,875.92 22,646.00 (2,770.08) 58,692.51 67,938.00 (9,245.49) 271,746.00 213,053.49 78.4%67-G&A-SUPPLIES & MATERIALS6703740 Supplies-Computer282.04 500.00 (217.96) 2,237.98 1,500.00 737.98 6,000.00 3,762.02 62.7%6703762 Supplies-Office 116.18 125.00 (8.82) 116.18 375.00 (258.82) 1,500.00 1,383.82 92.3%6703768 Supplies-Printing & Stationery- 100.00 (100.00) 102.07 200.00 (97.93) 3,200.00 3,097.93 96.8%6703778Supplies-Small Tools/Non-Capital - 100.00 (100.00) - 100.00 (100.00) 900.00 900.00 100.0%Total-G&A-SUPPLIES & MATERIALS 398.22 825.00 (426.78) 2,456.23 2,175.00 281.23 11,600.00 9,143.77 78.8%67-G&A-REPAIRS & MAINTENANCE6705690 Repairs & Maintenance-Equipment170.00 100.00 70.00 170.00 300.00 (130.00) 1,200.00 1,030.00 85.8%Total-G&A-REPAIRS & MAINTENANCE 170.00 100.00 70.00 170.00 300.00 (130.00) 1,200.00 1,030.00 85.8%67-G&A-OTHER EXPENSES6709020 Auto/Mileage Allowance400.00 400.00 - 1,200.00 1,200.00 - 4,800.00 3,600.00 75.0%6709090 Contract Services560.00 - 560.00 720.00 - 720.00 - 0.0%6709150 Dues & Subscriptions- 200.00 (200.00) 270.00 250.00 20.00 1,500.00 1,230.00 82.0%6709180 Employee Recruiting/Relocation22.00 1,000.00 (978.00) 234.00 1,000.00 (766.00) 4,600.00 4,366.00 94.9%6709197 Equipment Rental245.43 350.00 (104.57) 1,303.96 1,050.00 253.96 4,200.00 2,896.04 69.0%6709202 Fees-Bank120.77 300.00 (179.23) 189.27 900.00 (710.73) 3,600.00 3,410.73 94.7%6709208 Fees-Payroll Processing515.27 550.00 (34.73) 1,572.21 1,650.00 (77.79) 6,600.00 5,027.79 76.2%6709220 Freight/Delivery- 50.00 (50.00) 234.74 150.00 84.74 600.00 365.26 60.9%6709490 Miscellaneous - 100.00 (100.00) - 300.00 (300.00) 1,200.00 1,200.00 100.0%6709620 Postage/Mail Services - 75.00 (75.00) 75.88 225.00 (149.12) 900.00 824.12 91.6%6709625 Professional Fees- 400.00 (400.00) - 1,200.00 (1,200.00) 4,800.00 4,800.00 100.0%6709636 Promotion/Entertainment- 100.00 (100.00) - 300.00 (300.00) 1,200.00 1,200.00 100.0%6709722 Seminars & Training250.00 100.00 150.00 250.00 300.00 (50.00) 900.00 650.00 72.2%6709810 Travel - - - - 100.00 (100.00) 1,100.00 1,100.00 100.0%6709820 Uniforms - 75.00 (75.00) - 225.00 (225.00) 1,050.00 1,050.00 100.0%Total-G&A-OTHER EXPENSES 2,113.47 3,700.00 (1,586.53) 6,050.06 8,850.00 (2,799.94) 37,050.00 31,719.94 85.6%Total-GENERAL & ADMINISTRATIVE22,557.61 27,271.00 (4,713.39) 67,368.80 79,263.00 (11,894.20) 321,596.00 254,947.20 79.3%Month to Date Year to DateSilverRock ResortGeneral & Administrative Expense StatementSeptember 2007Annual Budget9 SeptemberFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense68-LEASES6800192 Equipment Leases-Carts 10,239.47 9,800.00 439.47 30,718.41 29,400.00 1,318.41 117,600.00 86,881.59 73.9%6800193 Equipment Leases-Course Maint 17,487.00 20,000.00 (2,513.00) 52,461.00 60,000.00 (7,539.00) 240,000.00 187,539.00 78.1%6800194 Equipment Leases-Trailer 576.94 600.00 (23.06) 2,168.67 1,800.00 368.67 7,200.00 5,031.33 69.9%6800195 Equipment Leases-Software 1,372.93 1,525.00 (152.07) 4,898.79 4,575.00 323.79 18,300.00 13,401.21 73.2%6800196 Equipment Leases-GPS 6,840.14 7,400.00 (559.86) 20,520.42 22,200.00 (1,679.58) 88,800.00 68,279.58 76.9%6800198 Equipment Leases-Others 2,277.26 - 2,277.26 6,736.05 - 6,736.05 - - 0.0%Total-LEASES38,793.74 39,325.00 (531.26) 117,503.34 117,975.00 (471.66) 471,900.00 361,132.71 76.5%69-MISC OTHER EXPENSES6900096 Contract Srvcs-Management Fee 11,521.41 9,226.00 2,295.41 50,903.34 51,988.00 (1,084.66) 111,277.00 60,373.66 54.3%6900210 FF&E Reserve 3,445.87 3,858.00 (412.13) 7,152.63 7,786.00 (633.37) 71,686.00 64,533.37 90.0%6900800 Personal Property Taxes 4,161.52 20,000.00 (15,838.48) 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 12,600.00 (4,881.24) 50,400.00 42,681.24 84.7%Total-MISC OTHER EXPENSES19,128.80 37,284.00 (18,155.20) 73,070.12 92,374.00 (19,303.88) 253,363.00 180,292.88 71.2%Annual BudgetMonth to Date Year to Date Operating Leases & Miscellaneous Other Expense StatementSeptember 200710 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report‐2007‐20082007 2007 2007 2007 2007 2007Comp CategoryJulyAugustSeptemberOctoberNovemberDecemberMedia1416SalesPromotionGolf Industry72022VIPCelebrityPGA Comp52 54 48Charity/Gift Certificate8Rain/Wind Checks4Club Staff88 99 98LQ HS Golf148 177 196 0 0 02008 2008 2008 2008 2008 2008Comp CategoryJanuaryFebruaryMarchAprilMayJuneMediaSalesPromotionGolf IndustryVIP11 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report‐2007‐2008September 2007Date Time Description CategoryPlayers9/2/2007 9:15 Bill Evans Media 49/9/2007 3:00 Dan Ball Media 49/12/2007 9:30 Bradon Bohler Media 49/13/2007 8:00 Larry Owens Media 412