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10 April 2008 SilverRock Resort - Monthly Financial Statement
Monthly Financial Statements July 2007 – April 2008 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 MarchFinal Budget Variance Percentages Unfavorable (-) Favorable (+) Final Budget Variance Annual Budget Unemcumb. % Bdgt Income400000 Golf Green Fee Revenue 460,189.20 440,310.00 19,879.20 4.5% 2,829,039.05 2,721,925.00 107,114.05 3,161,211.00 332,171.95 89%401000 Miscellaneous Golf Revenue 21,510.14 9,000.00 12,510.14 139.0% 124,558.64 75,663.00 48,895.64 83,725.00 (40,833.64) 149%410000 Revenue-Golf Shop 38,182.03 41,600.00 (3,417.97) -8.2% 309,158.20 282,222.00 26,936.20 327,370.00 18,211.80 94%420000 Revenue-F&B Concession 500.00 500.00 - 0.0% 11,000.00 11,000.00 - 12,000.00 1,000.00 92%890000 Interest Income 8.80 - 8.80 0.0% 198.15 - 198.15 - (198.15) 0%Total Income520,390.17 491,410.00 28,980.17 5.9% 3,273,954.04 3,090,810.00 183,144.04 3,584,306.00 310,351.96 91%Cost of Goods Sold510000 COS-Golf Shop 21,566.23 22,079.00 (512.77) 2.3% 171,162.90 149,788.10 (21,374.80) 173,752.00 2,589.10 99%Total COS21,566.23 22,079.00 (512.77) 2.3% 171,162.90 149,788.10 (21,374.80) 173,752.00 2,589.10 99%Gross Profit498,823.94 469,331.00 29,492.94 6.3% 3,102,791.14 2,941,021.90 161,769.24 3,410,554.00 307,762.86 91%Expenses610000 Golf Pro Shop 23,726.62 22,965.00 (761.62) -3.3% 218,426.91 209,095.00 (9,331.91) 256,699.00 38,272.09 85%630000 Course Maintenance 144,776.20 131,059.00 (13,717.20) -10.5% 1,550,266.44 1,519,068.00 (31,198.44) 1,796,367.00 246,100.56 86%640000 Outside Services 32,656.77 28,782.00 (3,874.77) -13.5% 262,642.20 247,748.00 (14,894.20) 297,353.00 34,710.80 88%650000 Clubhouse 18,322.29 14,242.00 (4,080.29) -28.6% 154,102.40 144,420.00 (9,682.40) 172,900.00 18,797.60 89%660000 Marketing 19,296.86 22,702.00 3,405.14 15.0% 217,965.60 228,415.00 10,449.40 252,469.00 34,503.40 86%670000 General & Administrative 24,339.11 26,621.00 2,281.89 8.6% 250,538.60 267,610.00 17,071.40 321,596.00 71,057.40 78%680000 Leases 40,714.12 39,325.00 (1,389.12) -3.5% 397,233.23 393,250.00 (3,983.23) 471,900.00 74,666.77 84%690000 Miscellaneous Other Expense 8,072.53 7,724.00 (348.53) -4.5% 166,395.12 201,893.00 35,497.88 253,363.00 86,967.88 66%Total Expenses311,904.50 293,420.00 (18,484.50) -6.3% 3,217,570.50 3,211,499.00 (6,071.50) 3,822,647.00 605,076.50 84%Net Income 186,919.44 175,911.00 11,008.44 6.3%(114,779.36) (270,477.10) 155,697.74 (412,093.00) (297,313.64) 28%Rounds of Golf PlayedPaid Rounds Played 5,014 5,200 (186) -3.6% 33,797 34,130 (333) 40,580 6,783 83%Ave $ Per Paid Round Green Fee 91.78 84.68 7.11 8.4% 83.71 79.75 3.96 77.90 (5.81) 107%Ave $ Per Paid Round Merchandise 7.62 8.00 (0.38) -4.8% 9.15 8.27 0.88 8.07 (1.08) 113%Ave $ Per Paid Miscellaneous 4.29 1.73 2.56 147.9% 3.69 2.22 1.47 2.06 - 0%Month to Date Year to DateApril 2008SilverRock ResortSummary Operating Income Statement1 Income AprilFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4000000 Revenue-Fees 460,189.20 440,310.00 19,879.20 2,829,039.05 2,721,925.00 107,114.05 3,161,211.00332,171.9589%4010000 Rider Fee 625.00 520.00 105.00 5,375.00 3,413.00 1,962.00 4,058.00-1,317.00132%4040000 Club Rental 3,225.00 1,820.00 1,405.00 23,790.00 11,946.00 11,844.00 14,203.00-9,587.00167%4050000 Driving Range 7,487.00 4,160.00 3,327.00 51,746.00 27,304.00 24,442.00 32,464.00-19,282.00159%4060000 Handicap Fees 525.00 - 525.00 7,075.00 8,000.00 (925.00) 8,000.00 925.0088%4080000 GPS Advertising 5,890.00 - 5,890.00 22,055.00 12,000.00 10,055.00 12,000.00 -10,055.00184%4090000 Ball Retriever/Subcontract 1,258.14 1,000.00 258.14 3,267.64 4,000.00 (732.36) 4,000.00 732.3682%4091000 Golf Professional Rental Fee 2,500.00 1,500.00 1,000.00 11,250.00 9,000.00 2,250.00 9,000.00 - 0% Total Revenue Fees 481,699.34 449,310.00 32,389.34 2,953,597.69 2,797,588.00 156,009.69 3,244,936.00 293,588.31 91%Total Income 481,699.34 449,310.00 32,389.34 2,953,597.69 2,797,588.00 156,009.69 3,244,936.00 293,588.31 91%SilverRock ResortStatement of Fees RevenueApril 2008Month to Date Year to Date Annual Budget2 Income AprilFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4100000 Sales Miscellaneous 575.66 - 575.66 5,413.29 - 5,413.29 4100110 Sales Hard Goods 14,826.26 14,560.00 266.26 102,449.57 98,778.00 3,671.57 114,580.00 12,130.43 89%4100112 Sales-Soft Goods 26,596.91 27,040.00 (443.09) 234,048.32 183,444.00 50,604.32 212,791.00 (21,257.32) 110%5100639 GS-Discounts-Mdse (3,816.80) - (3,816.80) (32,752.98) - (32,752.98) - 32,752.98 0% Total Revenue Golf Shop 38,182.03 41,600.00 (3,417.97) 309,158.20 282,222.00 26,936.20 327,371.00 23,626.09 93%COS 5100150 COS-GS-Hard Goods 9,297.16 8,008.00 1,289.16 64,457.84 54,327.90 10,129.94 63,019.00 (1,438.84) 102%5100151 COS-GS-Soft Goods 12,269.07 14,872.00 (2,602.93) 106,711.06 100,894.20 5,816.86 117,035.05 10,323.99 91%5100152 COS-GS-Purchase Disc - (1,144.00) 1,144.00 (6.00) (7,763.00) 7,757.00 (9,003.00) (8,997.00) 0%5100220 COS-GS-Freight Merch - 343.00 (343.00) - 2,329.00 (2,329.00) 2,701.00 2,701.00 0%Cost of Sales - Golf Shop 21,566.23 22,079.00 (512.77) 171,162.90 149,788.10 21,374.80 173,752.05 2,589.15 99%Gross Profit 16,615.80 19,521.00 (2,905.20) 137,995.30 132,433.90 5,561.40 153,618.95 21,036.94 86%COS % 56.5% 53.1% -3.4% 55.4% 53.1% -2.3% 53.1% 11.0% 79%Expense61-PS-SALARIES & BENEFITS6101175 Employee Meals 420.00 420.00 - 3,900.00 3,900.00 - 4,680.00 780.00 83%6101320 Insurance Group 3,336.45 3,360.00 (23.55) 30,300.76 28,920.00 1,380.76 35,640.00 5,339.24 85%6101325 Insurance-Workers Comp 1,236.20 1,498.00 (261.80) 12,479.61 13,371.00 (891.39) 16,247.00 3,767.39 77%6101720 Salaries 5,872.66 3,499.00 2,373.66 54,199.32 34,990.00 19,209.32 72,000.00 17,800.68 75%6101800 Taxes-Employer Payroll 1,867.32 1,865.00 2.32 14,447.69 16,648.00 (2,200.31) 20,228.00 5,780.31 71%6101880 Wages-Hourly 9,244.18 11,478.00 (2,233.82) 82,385.67 98,716.00 (16,330.33) 90,474.00 8,088.33 91%6101882 Wages-Overtime 335.63 - 335.63 2,758.42 - 2,758.42 - 952.88 0%Total -PS-SALARIES & BENEFITS 22,312.44 22,120.00 192.44 200,471.47 196,545.00 3,926.47 239,269.00 42,508.83 82%61-PS OTHER EXPENSES6103762 Supplies-Office 245.50 45.00 200.50 2,568.53 1,435.00 1,133.53 1,525.00 (1,043.53) 168%6109090 Contract Services 500.00 500.00 - 5,000.00 5,000.00 - 6,000.00 1,000.00 83%6109220 Freight & Delivery 54.46 - 54.46 1,408.72 - 1,408.72 75.00 (1,333.72) 1878%6109490 Miscellaneous 161.22 50.00 111.22 469.18 350.00 119.18 450.00 (19.18) 104%6109150 Dues and Subscriptions - - - 324.19 - 324.19 2,000.00 1,675.81 16%6109500 ProShop-Over/Short (17.59) - (17.59) (40.12) - (40.12) 40.12 0%6109722 Seminars/Training - 35.00 (35.00) 2,949.00 4,205.00 (1,256.00) 5,490.00 2,541.00 54%6109810 Travel - Merchandise - 15.00 (15.00) - 60.00 (60.00) 90.00 90.00 0%6109820 Uniforms 102.12 200.00 (97.88) 3,543.98 1,500.00 2,043.98 1,800.00 (1,743.98) 197%6117840 Telephones 368.47 - 368.47 1,731.96 - 1,731.96 - (1,731.96) 0%Total PS-OTHER EXPENSES 1,414.18 845.00 569.18 17,955.44 12,550.00 5,405.44 17,430.00 (525.44) 103%Total Expenses23,726.62 22,965.00 761.62 218,426.91 209,095.00 9,331.91 256,699.00 41,983.39 84%Net Income(7,110.82) (3,444.00) (3,666.82) (80,431.61) (76,661.10) (3,770.51) (103,080.05) (20,946.45) -80%Month to Date Year to Date Annual BudgetSilverRock ResortGolf Shop Income StatementApril 20083 AprilFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense63-CM-SALARIES & BENEFITS6311175 Employee Meals 240.00 240.00 - 2,400.00 2,400.00 - 2,880.00 480.00 16.7%6311320 Insurance-Group 14,939.96 8,850.00 6,089.96 134,959.06 88,500.00 46,459.06 106,200.00 (28,759.06) -27.1%6311325 Insurance-Workers Comp 4,160.81 5,811.00 (1,650.19) 51,094.23 60,340.00 (9,245.77) 72,453.00 21,358.77 29.5%6311720 Salaries 11,038.48 12,333.00 (1,294.52) 110,384.80 123,314.00 (12,929.20) 148,000.00 37,615.20 25.4%6311800 Taxes-Employer Payroll 5,334.99 7,235.00 (1,900.01) 53,094.26 75,669.00 (22,574.74) 90,868.00 37,773.74 41.6%6311880 Wages-Hourly 40,471.51 45,780.00 (5,308.49) 424,335.46 457,736.00 (33,400.54) 565,951.00 141,615.54 25.0%6311882 Wages-Overtime 686.79 - 686.79 31,298.05 26,664.00 4,634.05 15,916.00 (15,382.05) -96.6%Total-CM-SALARIES & BENEFITS76,872.54 80,249.00 (3,376.46) 807,565.86 834,623.00 (27,057.14) 1,002,268.00 194,702.14 19.4%63-CM-SUPPLIES & MATERIALS6313734 Chemicals 4,638.65 2,000.00 2,638.65 31,312.13 21,000.00 10,312.13 23,900.00 (7,412.13) -31.0%6313744 Fertilizer 7,685.90 3,800.00 3,885.90 87,733.94 59,100.00 28,633.94 68,950.00 (18,783.94) -27.2%6313746 Flowers/Plants - 100.00 (100.00) 5,020.71 3,500.00 1,520.71 3,500.00 (1,520.71) -43.4%6313748 Fuel-Gasoline 6,100.81 3,900.00 2,200.81 42,329.28 36,200.00 6,129.28 41,400.00 (929.28) -2.2%6313750 Golf Course Accessories 163.24 100.00 63.24 10,637.83 4,000.00 6,637.83 4,200.00 (6,437.83) -153.3%6313756 POA Control - - - 6,806.48 6,000.00 806.48 6,000.00 (806.48) -13.4%6313758 Miscellaneous Supp 2,059.93 - 2,059.93 4,932.85 - 4,932.85 (4,932.85) 0.0%6313766 Pesticides - - - 657.80 - 657.80 - (657.80) 0.0%6313762 Supplies-Office 358.68 100.00 258.68 2,015.40 1,000.00 1,015.40 1,200.00 (815.40) -68.0%6313774 Sand - 100.00 (100.00) 2,781.08 6,460.00 (3,678.92) 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) 91,581.48 93,050.00 (1,468.52) 93,750.00 2,168.52 2.3%6313778 Small Tools & Non-Capital Equip 6.80 100.00 (93.20) 7,879.51 6,300.00 1,579.51 6,500.00 (1,379.51) -21.2%6313780 Sod - - - 3,789.41 4,250.00 (460.59) 5,750.00 1,960.59 34.1%6313782 Topdressing - - - 7,101.97 1,300.00 5,801.97 3,900.00 (3,201.97) -82.1%Total-CM-SUPPLIES & MATERIALS21,014.01 10,550.00 10,464.01 304,579.87 247,160.00 57,419.87 270,710.00 (33,869.87) -12.5%63-CM-REPAIRS & MAINTENANCE6315095 CM-R&M-Contract Lake Maint 622.87 1,500.00 (877.13) 9,531.50 11,000.00 (1,468.50) 14,000.00 4,468.50 31.9%6315685 CM-R&M-Bldngs & Othr Structures 121.00 - 121.00 1,381.41 500.00 881.41 500.00 (881.41) -176.3%6315690 CM-R&M-Equipment 2,040.52 1,400.00 640.52 39,656.77 26,000.00 13,656.77 28,800.00 (10,856.77) -37.7%6315692 CM-R&M-Irrigation System 2,129.81 1,000.00 1,129.81 12,929.28 13,450.00 (520.72) 15,450.00 2,520.72 16.3%6315696 CM-R&M-Pumps 3,495.43 - 3,495.43 29,577.22 4,000.00 25,577.22 5,000.00 (24,577.22) -491.5%6315815 CM-R&M-Trees-Pruning Etc 2,700.00 - 2,700.00 4,605.00 4,000.00 605.00 4,000.00 (605.00) -15.1%Total-CM-REPAIRS & MAINTENANCE 11,109.63 3,900.00 7,209.63 97,681.18 58,950.00 38,731.18 67,750.00 (29,931.18) -44.2%63-CM-UTILTIES6317830 Utilities-Electricity-Bldngs - 1,526.00 (1,526.00) - 17,545.00 (17,545.00) 22,080.00 22,080.00 100.0%6317836 Utilities-Natural Gas/LPG 26.03 - 26.03 174.49 - 174.49 (174.49) 0.0%6317840 Telephones 1,139.49 600.00 539.49 8,141.48 6,000.00 2,141.48 7,200.00 (941.48) -13.1%Total-CM-UTILITIES 1,165.52 2,126.00 (960.48) 8,315.97 23,545.00 (15,229.03) 29,280.00 20,964.03 71.6%63-CM-OTHER EXPENSES6319020 Auto Mileage/Allowance 500.00 500.00 - 5,000.00 5,000.00 - 6,000.00 1,000.00 16.7%6319099 Contract Svcs-Security - - - 867.19 - 867.19 (867.19) 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 - 600.00 (600.00) 12,018.88 6,000.00 6,018.88 7,200.00 (4,818.88) -66.9%6319150 Dues & Subscriptions 18.00 200.00 (182.00) 18.00 800.00 (782.00) 900.00 882.00 98.0%6319170 Employee Education - 50.00 (50.00) 575.00 500.00 75.00 600.00 25.00 4.2%6319197 Equipment Rental - 200.00 (200.00) 2,790.90 3,900.00 (1,109.10) 4,200.00 1,409.10 33.6%6319206 Licenses & Permits - 150.00 (150.00) - 1,600.00 (1,600.00) 1,600.00 1,600.00 100.0%6319490 Miscellaneous 33.18 100.00 (66.82) 4,581.36 1,000.00 3,581.36 1,200.00 (3,381.36) -281.8%6319500 Propane/Natural Gas - 150.00 (150.00) - 1,500.00 (1,500.00) 1,800.00 1,800.00 100.0%6319718 Safety Equipment & Training 655.63 100.00 555.63 3,445.84 3,200.00 245.84 3,400.00 (45.84) -1.3%6319822 Uniforms 823.05 720.00 103.05 9,170.34 7,950.00 1,220.34 9,390.00 219.66 2.3%6319999 Capital Expense-Capex 3,700.00 3,700.00 - 37,000.00 37,000.00 - 44,400.00 7,400.00 16.7%Total-CM-OTHER EXPENSES 5,729.86 6,470.00 (740.14) 75,467.51 70,450.00 5,017.51 84,690.00 9,222.49 10.9%Month to Date Year to DateSilverRock ResortCourse Maintenance Expense StatementApril 2008Annual Budget4 AprilFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget632-CM-LANDSCAPE MAINTENANCE632-CM-LM-SALARIES & BENEFITS6321320 Insurance-Group 1,104.00 1,104.00 - 9,987.50 11,040.00 (1,052.50) 13,248.00 3,260.50 24.6%6321325 Insurance-Workers Comp 1,014.14 1,314.00 (299.86) 12,451.89 13,474.00 (1,022.11) 16,163.00 3,711.11 23.0%6321800 Taxes-Employer Payroll 1,483.87 1,636.00 (152.13) 15,596.99 16,983.00 (1,386.01) 20,369.00 4,772.01 23.4%6321880 Wages-Hourly 11,375.63 13,141.00 (1,765.37) 121,603.33 131,410.00 (9,806.67) 157,692.00 36,088.67 22.9%6321882 Wages-Overtime 1,301.07 - 1,301.07 13,542.13 5,005.00 8,537.13 5,915.00 (7,627.13) -128.9%Total-CM-LM-SALARIES & BENEFITS16,278.71 17,195.00 (916.29) 173,181.84 177,912.00 (4,730.16) 213,387.00 36,944.66 17.3%632-CM-LM-SUPPLIES & MATERIALS6323778 Small Tools 128.83 75.00 53.83 778.83 875.00 (96.17) 1,025.00 246.17 24.0%6323788 Uniforms 343.93 240.00 103.93 2,661.32 2,400.00 261.32 2,880.00 218.68 7.6%Total-CM-LM-SUPPLIES & MATERIALS472.76 315.00 157.76 3,440.15 3,275.00 165.15 3,905.00 464.85 11.9%632-CM-LM-REPAIRS & MAINTENANCE6325687 CM-LM-R&M-Drip Irrigation 209.33 250.00 (40.67) 2,295.09 3,500.00 (1,204.91) 4,250.00 1,954.91 46.0%Total-CM-LM-REPAIRS & MAINTENANCE 209.33 250.00 (40.67) 2,295.09 3,500.00 (1,204.91) 4,250.00 1,954.91 46.0%632-CM-WATER & ENERGY6337834 Utilities-Electricity-Pumping 6,498.34 8,500.00 (2,001.66) 55,722.12 85,000.00 (29,277.88) 102,000.00 46,277.88 45.4%6337842 Utilities-Water5,425.50 1,504.00 3,921.50 22,016.85 14,653.00 7,363.85 18,126.00 (3,890.85) -21.5%Total-CM-WATER & ENERGY11,923.84 10,004.00 1,919.84 77,738.97 99,653.00 (21,914.03) 120,126.00 42,387.03 35.3%144,776.20 131,059.00 13,717.20 1,550,266.44 1,519,068.00 31,198.44 1,796,366.00 242,839.06 13.5%Silverrock ResortCourse Maintenance Expense StatementApril 2008Annual BudgetTotal -COURSE MAINTENANCEMonth to Date Year to Date5 AprilFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense641-CBR-SALARIES & BENEFITS6411175 Employee Meals 600.00 600.00 - 5,220.00 5,220.00 - 6,180.00 960.00 15.5%6411320 Insurance-Group 60.25 720.00 (659.75) 1,328.30 7,200.00 (5,871.70) 8,640.00 7,311.70 84.6%6411325 Insurance-Workers Comp 960.10 1,672.00 (711.90) 8,285.46 13,308.00 (5,022.54) 16,097.00 7,811.54 48.5%6411800 Taxes-Employer Payroll 1,654.25 1,449.00 205.25 11,295.91 11,535.00 (239.09) 13,956.00 2,660.09 19.1%6411880 Wages-Hourly 11,952.26 11,640.00 312.26 95,786.17 92,655.00 3,131.17 112,095.00 16,308.83 14.5%6411882 Wages-Overtime 48.94 - 48.94 1,222.15 - 1,222.15 - (1,222.15) 0.0%Total-CBR-SALARIES & BENEFITS15,275.80 16,081.00 (805.20) 123,137.99 129,918.00 (6,780.01) 156,968.00 33,830.01 21.6%641-CBR-SUPPLIES & MATERIALS6413732 Supplies-Carts 112.06 50.00 62.06 3,233.26 2,250.00 983.26 2,350.00 (883.26) -37.6%6413742 Supplies-Expendable 397.52 150.00 247.52 5,300.66 4,050.00 1,250.66 5,050.00 (250.66) -5.0%6413752 Supplies-Range Balls - - - 7,524.92 6,000.00 1,524.92 6,000.00 (1,524.92) -25.4%6413762 Supplies-Office - 50.00 (50.00) 144.08 425.00 (280.92) 525.00 380.92 72.6%6413768 Supplies-Printing and Stationary - 70.00 (70.00) 1,200.41 280.00 920.41 420.00 (780.41) -185.8%6413786 Supplies-Towels - 72.00 (72.00) 1,332.43 2,148.00 (815.57) 2,292.00 959.57 41.9%6413796 Supplies-Bottled Water3,885.23 2,509.00 1,376.23 20,352.07 18,093.00 2,259.07 22,631.00 2,278.93 10.1%Total-CBR-SUPPLIES & MATERIALS4,394.81 2,901.00 1,493.81 39,087.83 33,246.00 5,841.83 39,268.00 180.17 0.5%641-CBR-REPAIRS & MAINTENANCE6415096 CBR-R&M-Contract Services-Carts 720.00 720.00 - 6,119.36 7,200.00 (1,080.64) 8,640.00 2,520.64 29.2%6415690 CBR-R&M-Equipment - 125.00 (125.00) 4,145.77 1,250.00 2,895.77 1,500.00 (2,645.77) -176.4%6415695 CBR-R&M-Cart Maintenance & Repair 1,527.11 250.00 1,277.11 3,267.11 3,500.00 (232.89) 4,000.00 732.89 18.3%Total-CBR-REPAIRS & MAINTENANCE 2,247.11 1,095.00 1,152.11 13,532.24 11,950.00 1,582.24 14,140.00 607.76 4.3%641-CBR-OTHER EXPENSES6419093 Contract Services-Handicaps 100.00 250.00 (150.00) 3,955.00 4,600.00 (645.00) 5,000.00 1,045.00 20.9%6419094 Contract Services-Laundry/Linen - 250.00 (250.00) 4,971.59 2,500.00 2,471.59 3,000.00 (1,971.59) -65.7%6419220 Freight/Delivery - 75.00 (75.00) 86.00 750.00 (664.00) 900.00 814.00 90.4%6419490 Miscellaneous 700.18 125.00 575.18 807.52 900.00 (92.48) 1,150.00 342.48 29.8%6419820 Uniforms 325.20 - 325.20 2,698.84 3,925.00 (1,226.16) 5,625.00 2,926.16 52.0%Total-CBR-OTHER EXPENSES 1,125.38 700.00 425.38 12,518.95 12,675.00 (156.05) 15,675.00 3,156.05 20.1%TOTAL-CARTS,BAGROOM & RANGE 23,043.10 20,777.00 2,266.10 188,277.01 187,789.00 488.01 226,051.00 37,773.99 16.7%643-CS-SALARIES & BENEFITS6431175 Employee Meals 300.00 300.00 - 2,640.00 2,640.00 - 3,120.00 480.00 15.4%6431325 Insurance-Workers Comp 536.24 485.00 51.24 3,877.23 3,434.00 443.23 4,073.00 195.77 4.8%6431800 Taxes-Employer Payroll 861.43 604.00 257.43 6,071.18 4,274.00 1,797.18 5,071.00 (1,000.18) -19.7%6431880 Wages-Hourly 6,628.00 4,853.00 1,775.00 45,665.33 34,331.00 11,334.33 40,732.00 (4,933.33) -12.1%6431882 Wages-Overtime 75.00 - 75.00 318.61 - 318.61 - (318.61) 0.0%Total-CS-SALARIES & BENEFITS8,400.67 6,242.00 2,158.67 58,572.35 44,679.00 13,893.35 52,996.00 (5,576.35) -10.5%643-CS-OTHER EXPENSES6433742 Supplies Expendable - 100.00 (100.00) 2,718.11 900.00 1,818.11 1,050.00 (1,668.11) -158.9%6439490 Miscellaneous - - - 61.00 - 61.00 200.00 139.00 69.5%6439718 Safety Equipment & Training - 50.00 (50.00) - 500.00 (500.00) 600.00 600.00 100.0%6439820 Uniforms - 400.00 (400.00) 883.73 1,750.00 (866.27) 1,900.00 1,016.27 53.5%6439999 Capital Expense-Capex 1,213.00 1,213.00 - 12,130.00 12,130.00 - 14,556.00 2,426.00 16.7%Total-CS-OTHER EXPENSES 1,213.00 1,763.00 (550.00) 15,792.84 15,280.00 512.84 18,306.00 2,513.16 13.7%Total-COURSE SERVICES 9,613.67 8,005.00 1,608.67 74,365.19 59,959.00 14,406.19 71,302.00 (3,063.19) -4.3%TOTAL OUTSIDE SERVICES 32,656.77 28,782.00 3,874.77 262,642.20 247,748.00 14,894.20 297,353.00 32,197.64 10.8%Month to Date Year to DateSilverRock ResortOutside Services Expense StatementApril 2008Annual Budget6 AprilFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense65-CH-SUPPLIES & MATERIALS6503742 Supplies-Expendable104.91 400.00 (295.09) 4,769.35 4,000.00 769.35 4,800.00 30.65 0.6%Total-CH-SUPPLIES & MATERIALS 104.91 400.00 (295.09) 4,769.35 4,000.00 769.35 4,800.00 30.65 0.6%65-CH-UTILITIES6507836 Utilities-Natural Gas1,427.66 300.00 1,127.66 4,784.84 3,000.00 1,784.84 3,600.00 (1,184.84) -32.9%6507838 Utilities-Sewer- 200.00 (200.00) - 2,000.00 (2,000.00) 2,400.00 2,400.00 100.0%6507840 Utilities-Telephone1,521.49 1,000.00 521.49 13,104.30 10,000.00 3,104.30 12,000.00 (1,104.30) -9.2%6507842 Utilities-Water142.43 200.00 (57.57) 1,576.96 2,000.00 (423.04) 2,400.00 823.04 34.3%6507844 Utilities-Cable336.53 317.00 19.53 3,379.55 3,170.00 209.55 3,800.00 420.45 11.1%Total-CH-UTILITIES 3,428.11 2,017.00 1,411.11 22,845.65 20,170.00 2,675.65 24,200.00 1,354.35 5.6%65-CH-OTHER EXPENSES6509091 Contract Services-Cleaning1,825.00 1,825.00 - 19,670.00 18,850.00 820.00 22,500.00 2,830.00 12.6%6509098 Contract Services-Refuse Dispose- 500.00 (500.00) 3,982.08 5,000.00 (1,017.92) 6,000.00 2,017.92 33.6%6509099 Contract Services-Security8,140.08 8,100.00 40.08 87,380.00 81,000.00 6,380.00 97,200.00 9,820.00 10.1%6509215 Flowers & Decorations- 100.00 (100.00) 1,319.08 2,400.00 (1,080.92) 2,600.00 1,280.92 49.3%6509490 Miscellaneous462.10 200.00 262.10 779.43 2,000.00 (1,220.57) 2,400.00 1,620.57 67.5%6509718 Safety Equipment & Training- 100.00 (100.00) 122.19 1,000.00 (877.81) 1,200.00 1,077.81 89.8%Total-CH-OTHER EXPENSES 10,427.18 10,825.00 (397.82) 113,252.78 110,250.00 3,002.78 131,900.00 18,647.22 14.1%65-CH-REPAIRS & MAINTENANCE6515685 CH-R&M-Building Structures2,129.32 200.00 1,929.32 5,696.94 2,000.00 3,696.94 2,400.00 (3,296.94) -137.4%6515686 CH-R&M-Restaurant Repairs2,232.77 400.00 1,832.77 4,714.19 4,000.00 714.19 4,800.00 85.81 1.8%6515690 CH-R&M-Equipment Repair- 400.00 (400.00) 2,823.49 4,000.00 (1,176.51) 4,800.00 1,976.51 41.2%Total-CH-REPAIRS & MAINTENANCE 4,362.09 1,000.00 3,362.09 13,234.62 10,000.00 3,234.62 12,000.00 (1,234.62) -10.3%Total CLUBHOUSE 18,322.29 14,242.00 4,080.29 154,102.40 144,420.00 9,682.40 172,900.00 (2,469.24) -1.4%Month to Date Year to DateSilverRock ResortClubhouse Expense StatementApril 2008Annual Budget7 AprilFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense66-MKT-SUPPLIES & MATERIALS6603762 Supplies-Office - 100.00 (100.00) 664.46 1,000.00 (335.54) 1,200.00 535.54 44.6%6603768 Supplies-Printing & Stationery 654.98 125.00 529.98 4,513.66 4,175.00 338.66 4,425.00 (88.66) -2.0%654.98 225.00 429.98 5,178.12 5,175.00 3.12 5,625.00 446.88 7.9%66-MKT-UTILITIES6607840 Utilities-Telephone 800.00 100.00 700.00 1,815.08 1,000.00 815.08 1,200.00 (615.08) -51.3%Total-MKT-UTILITIES 800.00 100.00 700.00 1,815.08 1,000.00 815.08 1,200.00 (615.08) -51.3%66-MKT-OTHER EXPENSES6609010 Advertising 16,615.29 21,402.00 (4,786.71) 203,227.91 200,730.00 2,497.91 221,834.00 18,606.09 8.4%6609040 Business Meals - 25.00 (25.00) 49.67 250.00 (200.33) 300.00 250.33 83.4%6609080 Collateral Material - 500.00 (500.00) 3,507.19 7,500.00 (3,992.81) 9,000.00 5,492.81 61.0%6609102 Contract Services-Web Page 99.00 175.00 (76.00) 1,501.69 1,750.00 (248.31) 2,100.00 598.31 28.5%6609490 Miscellaneous - 50.00 (50.00) - 300.00 (300.00) 350.00 350.00 100.0%6609620 Postage - 50.00 (50.00) 222.75 500.00 (277.25) 600.00 377.25 62.9%6609630 Promotion 26.79 - 26.79 78.49 6,500.00 (6,421.51) 6,500.00 6,421.51 0.0%6609633 Promotion-Community 150.00 75.00 75.00 150.00 2,775.00 (2,625.00) 2,925.00 2,775.00 94.9%6609634 Promotion-Media/Vender - 50.00 (50.00) - 600.00 (600.00) 700.00 - 0.0%6609150 Dues and Subscriptions 820.00 - 820.00 1,835.00 735.00 1,100.00 735.00 (1,100.00) -149.7%6609820 Uniforms - 50.00 (50.00) 268.90 600.00 (331.10) 600.00 331.10 55.2%Total-MKT-OTHER EXPENSES 17,711.08 22,377.00 (4,665.92) 210,841.60 222,240.00 (11,398.40) 245,644.00 34,102.40 13.9%Total-MARKETING 19,296.86 22,702.00 (3,405.14) 217,965.60 228,415.00 (10,449.40) 252,469.00 33,803.40 13.4%Month to Date Year to DateSilverRock ResortMarketing Expense StatementApril 2008Annual Budget8 AprilFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense67-G&A-SALARIES & BENEFITS6701175 Employee Meals 180.00 180.00 - 1,800.00 1,800.00 - 2,160.00 360.00 16.7%6701320 Insurance-Group1,364.85 1,980.00 (615.15) 16,428.15 19,800.00 (3,371.85) 23,760.00 7,331.85 30.9%6701325 Insurance-Workers Comp1,249.63 1,673.00 (423.37) 14,053.79 16,730.00 (2,676.21) 20,076.00 6,022.21 30.0%6701720 Salaries 13,503.32 14,000.00 (496.68) 133,929.51 140,000.00 (6,070.49) 168,000.00 34,070.49 20.3%6701800 Taxes-Employer Payroll 1,274.54 2,083.00 (808.46) 13,205.33 20,830.00 (7,624.67) 24,994.00 11,788.67 47.2%6701880 Wages-Hourly2,094.49 2,730.00 (635.51) 27,021.35 27,300.00 (278.65) 32,756.00 5,734.65 17.5%6701882 Wages-Overtime 22.50 - 22.50 298.13 - 298.13 - (298.13) 0.0%Total-G&A-SALARIES & BENEFITS 19,689.33 22,646.00 (2,956.67) 206,736.26 226,460.00 (19,723.74) 271,746.00 65,009.74 23.9%67-G&A-SUPPLIES & MATERIALS6703740 Supplies-Computer- 500.00 (500.00) 6,990.62 5,000.00 1,990.62 6,000.00 (990.62) -16.5%6703762 Supplies-Office 434.56 125.00 309.56 1,334.11 1,250.00 84.11 1,500.00 165.89 11.1%6703768 Supplies-Printing & Stationery- 400.00 (400.00) 694.30 2,400.00 (1,705.70) 3,200.00 2,505.70 78.3%6703778Supplies-Small Tools/Non-Capital 666.50 100.00 566.50 1,061.50 800.00 261.50 900.00 (161.50) -17.9%Total-G&A-SUPPLIES & MATERIALS 1,101.06 1,125.00 (23.94) 10,080.53 9,450.00 630.53 11,600.00 1,519.47 13.1%67-G&A-REPAIRS & MAINTENANCE6705690 Repairs & Maintenance-Equipment- 100.00 (100.00) 1,522.97 1,000.00 522.97 1,200.00 (322.97) -26.9%Total-G&A-REPAIRS & MAINTENANCE - 100.00 (100.00) 1,522.97 1,000.00 522.97 1,200.00 (322.97) -26.9%67-G&A-OTHER EXPENSES6709020 Auto/Mileage Allowance400.00 400.00 - 4,000.00 4,000.00 - 4,800.00 800.00 16.7%6709090 Contract Services802.50 - 802.50 2,607.15 - 2,607.15 - - 0.0%6709150 Dues & Subscriptions30.00 50.00 (20.00) 300.00 950.00 (650.00) 1,500.00 1,200.00 80.0%6709180 Employee Recruiting/Relocation84.00 - 84.00 2,600.72 4,600.00 (1,999.28) 4,600.00 1,999.28 43.5%6709197 Equipment Rental242.44 350.00 (107.56) 5,238.33 3,500.00 1,738.33 4,200.00 (1,038.33) -24.7%6709202 Fees-Bank39.53 300.00 (260.47) 442.52 3,000.00 (2,557.48) 3,600.00 3,157.48 87.7%6709208 Fees-Payroll Processing832.47 550.00 282.47 7,450.45 5,500.00 1,950.45 6,600.00 (850.45) -12.9%6709220 Freight/Delivery12.00 50.00 (38.00) 313.51 500.00 (186.49) 600.00 286.49 47.7%6709490 Miscellaneous 648.47 100.00 548.47 919.16 1,000.00 (80.84) 1,200.00 280.84 23.4%6709491 Loss/Damage150.00 - 150.00 150.00 - 150.00 - 0.0%6709620 Postage/Mail Services 230.78 75.00 155.78 1,269.81 750.00 519.81 900.00 (369.81) -41.1%6709625 Professional Fees- 400.00 (400.00) 1,411.28 4,000.00 (2,588.72) 4,800.00 3,388.72 70.6%6709636 Promotion/Entertainment36.53 100.00 (63.47) 3,636.53 1,000.00 2,636.53 1,200.00 (2,436.53) -203.0%6709722 Seminars & Training40.00 100.00 (60.00) 1,311.34 600.00 711.34 900.00 (411.34) -45.7%6709810 Travel - 200.00 (200.00) - 400.00 (400.00) 1,100.00 1,100.00 100.0%6709820 Uniforms - 75.00 (75.00) 548.04 900.00 (351.96) 1,050.00 501.96 47.8%Total-G&A-OTHER EXPENSES 3,548.72 2,750.00 798.72 32,198.84 30,700.00 1,498.84 37,050.00 7,608.31 20.5%Total-GENERAL & ADMINISTRATIVE24,339.11 26,621.00 (2,281.89) 250,538.60 267,610.00 (17,071.40) 321,596.00 73,814.55 23.0%Month to Date Year to DateSilverRock ResortGeneral & Administrative Expense StatementApril 2008Annual Budget9 AprilFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense68-LEASES6800192 Equipment Leases-Carts 10,757.44 9,800.00 957.44 101,458.61 98,000.00 3,458.61 117,600.00 16,141.39 13.7%6800193 Equipment Leases-Course Maint 18,288.42 20,000.00 (1,711.58) 178,019.63 200,000.00 (21,980.37) 240,000.00 61,980.37 25.8%6800194 Equipment Leases-Trailer 1,004.08 600.00 404.08 6,691.92 6,000.00 691.92 7,200.00 508.08 7.1%6800195 Equipment Leases-Software 968.16 1,525.00 (556.84) 18,294.46 15,250.00 3,044.46 18,300.00 5.54 0.0%6800196 Equipment Leases-GPS 6,840.14 7,400.00 (559.86) 68,401.40 74,000.00 (5,598.60) 88,800.00 20,398.60 23.0%6800198 Equipment Leases-Others 2,855.88 - 2,855.88 24,367.21 - 24,367.21 - - 0.0%Total-LEASES 40,714.12 39,325.00 1,389.12 397,233.23 393,250.00 3,983.23 471,900.00 99,033.98 21.0%69-MISC OTHER EXPENSES6900096 Contract Srvcs-Management Fee (5,535.45) (6,304.00) 768.55 66,796.75 78,076.00 (11,279.25) 111,277.00 44,480.25 40.0%6900210 FF&E Reserve 10,407.81 9,828.00 579.81 59,780.77 61,817.00 (2,036.23) 71,686.00 11,905.23 16.6%6900800 Personal Property Taxes - - - 18,249.05 20,000.00 (1,750.95) 20,000.00 1,750.95 8.8%6900323 Insurance-Commercial 3,200.17 4,200.00 (999.83) 21,568.55 42,000.00 (20,431.45) 50,400.00 28,831.45 57.2%Total-MISC OTHER EXPENSES8,072.53 7,724.00 348.53 166,395.12 201,893.00 (35,497.88) 253,363.00 86,967.88 34.3% Operating Leases & Miscellaneous Other Expense StatementApril 2008Annual BudgetMonth to Date Year to Date10 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report‐2007‐20082007 2007 2007 2007 2007 2007Comp CategoryJulyAugustSeptemberOctoberNovemberDecemberMedia1416097Sales2PromotionGolf Industry7 2022 1516VIPCelebrity PGA Comp52 54 48 22 42 51Charity/Gift Certificate81526Rain/Wind Checks41434Club Staff88 99 98 35 87 157LQ HS Golf148 177 196 58 172 2932008 2008 2008 2008 2008 2008Comp CategoryJanuaryFebruaryMarchAprilMayJuneMedia215712Sales321PromotionGolf Industry11 372636VIPCelebrityPGA Comp60 656370Charity/Gift Certificate11 4Rain/Wind Checks442532Club Staff59 32101LQ HS Golf85 131 158147 245 264 310 0 011 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report‐2007‐2008April 2008Date Time Description CategoryPlayers4/7/2008 11:15Terry McIhargey - CBS2 Media 44/17/2008 11:52 Dan Ball - CBS 2 Media 24/19/2008 2:45 Scott Hennessee - CBS2 Media 44/21/2008 8:45 Matthew Harling - KESQ Media 212