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08 February 2008 SilverRock Resort - Monthly Financial Statement
Monthly Financial Statements July 2008 – February 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 FebruaryFinal Budget Variance Percentages Unfavorable (-) Favorable (+) Final Budget Variance Annual Budget Unemcumb. % Bdgt Income400000 Golf Green Fee Revenue 526,315.70 485,560.00 40,755.70 8.4% 1,771,283.70 1,704,515.00 66,768.70 3,161,211.00 1,389,927.30 56%401000 Miscellaneous Golf Revenue 19,152.00 9,100.00 10,052.00 110.5% 82,455.00 56,413.00 26,042.00 83,725.00 1,270.00 98%410000 Revenue-Golf Shop 51,266.16 43,920.00 7,346.16 16.7% 221,076.43 188,422.00 32,654.43 327,370.00 106,293.57 68%420000 Revenue-F&B Concession 1,500.00 1,500.00 - 0.0% 9,000.00 9,000.00 - 12,000.00 3,000.00 75%890000 Interest Income 8.41 - 8.41 0.0% 171.88 - 171.88 - (171.88) 0%Total Income598,242.27 540,080.00 58,162.27 10.8% 2,083,987.01 1,958,350.00 125,637.01 3,584,306.00 1,500,318.99 58%Cost of Goods Sold510000 COS-Golf Shop 31,515.02 23,310.00 8,205.02 -35.2% 122,684.23 100,004.10 (22,680.13) 173,752.00 51,067.77 71%Total COS31,515.02 23,310.00 8,205.02 -35.2% 122,684.23 100,004.10 (22,680.13) 173,752.00 51,067.77 71%Gross Profit566,727.25 516,770.00 49,957.25 9.7% 1,961,302.78 1,858,345.90 102,956.88 3,410,554.00 1,449,251.22 58%Expenses610000 Golf Pro Shop 22,054.70 22,965.00 910.30 4.0% 170,272.15 163,165.00 (7,107.15) 256,699.00 86,426.85 66%630000 Course Maintenance 130,035.56 130,750.00 714.44 0.5% 1,275,365.30 1,258,755.00 (16,610.30) 1,796,367.00 521,001.70 71%640000 Outside Services 37,660.30 28,811.00 (8,849.30) -30.7% 200,400.24 189,159.00 (11,241.24) 297,353.00 96,952.76 67%650000 Clubhouse 15,415.23 14,242.00 (1,173.23) -8.2% 123,061.16 115,936.00 (7,125.16) 172,900.00 49,838.84 71%660000 Marketing 25,436.42 31,902.00 6,465.58 20.3% 177,699.99 180,061.00 2,361.01 252,469.00 74,769.01 70%670000 General & Administrative 28,840.46 26,721.00 (2,119.46) -7.9% 202,649.51 214,468.00 11,818.49 321,596.00 118,946.49 63%680000 Leases 39,985.86 39,325.00 (660.86) -1.7% 317,970.73 314,600.00 (3,370.73) 471,900.00 153,929.27 67%690000 Miscellaneous Other Expense 7,335.33 11,568.00 4,232.67 36.6% 148,653.55 187,048.00 38,394.45 253,363.00 104,709.45 59%Total Expenses306,763.86 306,284.00 (479.86) -0.2% 2,616,072.63 2,623,192.00 7,119.37 3,822,647.00 1,206,574.37 68%Net Income 259,963.39 210,486.00 49,477.39 23.5%(654,769.85) (764,846.10) 110,076.25 (412,093.00) 242,676.85 159%Rounds of Golf PlayedPaid Rounds Played 4,987 4,880 107 2.2% 22,909 23,130 (221) 40,580 17,671 56%Ave $ Per Paid Round Green Fee 105.54 99.50 6.04 6.1% 77.32 73.69 3.63 77.90 0.58 99%Ave $ Per Paid Round Merchandise 10.28 9.00 1.28 14.2% 9.65 8.15 1.50 8.07 (1.58) 120%Ave $ Per Paid Miscellaneous 3.84 1.86 1.98 105.9% 3.60 2.44 1.16 2.06 - 0%Month to Date Year to DateFebruary 2008SilverRock ResortSummary Operating Income Statement1 Income FebruaryFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4000000 Revenue-Fees 526,315.70 485,560.00 40,755.70 1,771,283.70 1,704,515.00 66,768.70 3,161,211.001,389,927.3056%4010000 Rider Fee 400.00 488.00 (88.00) 3,650.00 2,313.00 1,337.00 4,058.00408.0090%4040000 Club Rental 3,390.00 1,708.00 1,682.00 17,530.00 8,096.00 9,434.00 14,203.00-3,327.00123%4050000 Driving Range 10,767.00 3,904.00 6,863.00 33,483.00 18,504.00 14,979.00 32,464.00-1,019.00103%4060000 Handicap Fees 345.00 500.00 (155.00) 6,045.00 7,500.00 (1,455.00) 8,000.00 1,955.0076%4080000 GPS Advertising 2,750.00 1,000.00 1,750.00 12,987.50 11,000.00 1,987.50 12,000.00 -987.50108%4090000 Ball Retriever/Subcontract - - - 2,009.50 3,000.00 (990.50) 4,000.00 1,990.5050%4091000 Golf Professional Rental Fee 1,500.00 1,500.00 - 6,750.00 6,000.00 750.00 9,000.00 - 0% Total Revenue Fees 545,467.70 494,660.00 50,807.70 1,853,738.70 1,760,928.00 92,810.70 3,244,936.00 1,388,947.30 57%Total Income 545,467.70 494,660.00 50,807.70 1,853,738.70 1,760,928.00 92,810.70 3,244,936.00 1,388,947.30 57%Month to Date Year to Date Annual BudgetSilverRock ResortStatement of Fees RevenueFebruary 20082 Income FebruaryFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4100000 Sales Miscellaneous 510.94 - 510.94 4,349.63 - 4,349.63 4100110 Sales Hard Goods 16,098.21 15,372.00 726.21 71,795.68 65,948.00 5,847.68 114,580.00 42,784.32 63%4100112 Sales-Soft Goods 39,531.32 28,548.00 10,983.32 168,699.83 122,474.00 46,225.83 212,791.00 44,091.17 79%5100639 GS-Discounts-Mdse (4,874.31) - (4,874.31) (23,768.71) - (23,768.71) - 23,768.71 0% Total Revenue Golf Shop 51,266.16 43,920.00 7,346.16 221,076.43 188,422.00 32,654.43 327,371.00 110,644.20 66%COS 5100150 COS-GS-Hard Goods 10,576.43 8,454.60 2,121.83 46,765.21 36,271.40 10,493.81 63,019.00 16,253.79 74%5100151 COS-GS-Soft Goods 20,938.59 15,701.40 5,237.19 75,925.02 67,360.70 8,564.32 117,035.05 41,110.03 65%5100152 COS-GS-Purchase Disc - (1,208.00) 1,208.00 (6.00) (5,183.00) 5,177.00 (9,003.00) (8,997.00) 0%5100220 COS-GS-Freight Merch - 362.00 (362.00) - 1,555.00 (1,555.00) 2,701.00 2,701.00 0%Cost of Sales - Golf Shop 31,515.02 23,310.00 8,205.02 122,684.23 100,004.10 22,680.13 173,752.05 51,067.82 71%Gross Profit 19,751.14 20,610.00 (858.86) 98,392.20 88,417.90 9,974.30 153,618.95 59,576.38 61%COS % 61.5% 53.1% -8.4% 55.5% 53.1% -2.4% 53.1% 46.2% 13%Expense61-PS-SALARIES & BENEFITS6101175 Employee Meals 420.00 420.00 - 3,060.00 3,060.00 - 4,680.00 1,620.00 65%6101320 Insurance Group 2,958.70 3,360.00 (401.30) 23,627.86 22,200.00 1,427.86 35,640.00 12,012.14 66%6101325 Insurance-Workers Comp 1,163.51 1,498.00 (334.49) 10,174.64 10,375.00 (200.36) 16,247.00 6,072.36 63%6101720 Salaries 5,872.66 3,499.00 2,373.66 42,454.00 27,992.00 14,462.00 72,000.00 29,546.00 59%6101800 Taxes-Employer Payroll 1,918.94 1,865.00 53.94 10,583.24 12,918.00 (2,334.76) 20,228.00 9,644.76 52%6101880 Wages-Hourly 8,513.49 11,478.00 (2,964.51) 63,814.66 75,760.00 (11,945.34) 90,474.00 26,659.34 71%6101882 Wages-Overtime 157.70 - 157.70 2,354.25 - 2,354.25 - 952.88 0%Total -PS-SALARIES & BENEFITS 21,005.00 22,120.00 (1,115.00) 156,068.65 152,305.00 3,763.65 239,269.00 86,507.48 64%61-PS OTHER EXPENSES6103762 Supplies-Office - 45.00 (45.00) 2,323.03 1,345.00 978.03 1,525.00 (798.03) 152%6109090 Contract Services 500.00 500.00 - 4,000.00 4,000.00 - 6,000.00 2,000.00 67%6109220 Freight & Delivery 264.15 - 264.15 1,270.85 - 1,270.85 75.00 (1,195.85) 1694%6109490 Miscellaneous - 50.00 (50.00) 307.96 250.00 57.96 450.00 142.04 68%6109150 Dues and Subscriptions 27.94 - 27.94 27.94 - 27.94 2,000.00 1,972.06 1%6109500 ProShop-Over/Short 14.56 - 14.56 (21.28) - (21.28) 21.28 0%6109722 Seminars/Training - 35.00 (35.00) 2,122.75 4,135.00 (2,012.25) 5,490.00 3,367.25 39%6109810 Travel - Merchandise - 15.00 (15.00) - 30.00 (30.00) 90.00 90.00 0%6109820 Uniforms 243.05 200.00 43.05 3,274.84 1,100.00 2,174.84 1,800.00 (1,474.84) 182%6117840 Telephones - - - 897.41 - 897.41 - (897.41) 0%Total PS-OTHER EXPENSES 1,049.70 845.00 204.70 14,203.50 10,860.00 3,343.50 17,430.00 3,226.50 81%Total Expenses22,054.70 22,965.00 (910.30) 170,272.15 163,165.00 7,107.15 256,699.00 89,733.98 65%Net Income(2,303.56) (2,355.00) 51.44 (71,879.95) (74,747.10) 2,867.15 (103,080.05) (30,157.60) -71%Month to Date Year to Date Annual BudgetSilverRock ResortGolf Shop Income StatementFebruary 20083 FebruaryFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense63-CM-SALARIES & BENEFITS6311175 Employee Meals 240.00 240.00 - 1,920.00 1,920.00 - 2,880.00 960.00 33.3%6311320 Insurance-Group 19,405.56 8,850.00 10,555.56 105,316.59 70,800.00 34,516.59 106,200.00 883.41 0.8%6311325 Insurance-Workers Comp 3,851.95 5,810.00 (1,958.05) 43,433.05 48,718.00 (5,284.95) 72,453.00 29,019.95 40.1%6311720 Salaries 11,038.48 12,331.00 (1,292.52) 88,307.84 98,648.00 (10,340.16) 148,000.00 59,692.16 40.3%6311800 Taxes-Employer Payroll 5,656.06 7,234.00 (1,577.94) 42,384.40 61,199.00 (18,814.60) 90,868.00 48,483.60 53.4%6311880 Wages-Hourly 36,734.73 45,772.00 (9,037.27) 345,017.17 366,176.00 (21,158.83) 565,951.00 220,933.83 39.0%6311882 Wages-Overtime 376.11 - 376.11 30,491.26 26,664.00 3,827.26 15,916.00 (14,575.26) -91.6%Total-CM-SALARIES & BENEFITS77,302.89 80,237.00 (2,934.11) 656,870.31 674,125.00 (17,254.69) 1,002,268.00 345,397.69 34.5%63-CM-SUPPLIES & MATERIALS6313734 Chemicals 2,447.33 2,000.00 447.33 19,995.08 18,800.00 1,195.08 23,900.00 3,904.92 16.3%6313744 Fertilizer 8,004.48 3,800.00 4,204.48 74,905.30 50,300.00 24,605.30 68,950.00 (5,955.30) -8.6%6313746 Flowers/Plants 431.00 100.00 331.00 5,020.71 3,300.00 1,720.71 3,500.00 (1,520.71) -43.4%6313748 Fuel-Gasoline 3,420.69 2,900.00 520.69 30,457.37 29,100.00 1,357.37 41,400.00 10,942.63 26.4%6313750 Golf Course Accessories 1,750.61 100.00 1,650.61 9,525.95 3,800.00 5,725.95 4,200.00 (5,325.95) -126.8%6313756 POA Control 2,575.23 - 2,575.23 6,641.78 6,000.00 641.78 6,000.00 (641.78) -10.7%6313758 Miscellaneous Supp 589.91 - 589.91 1,542.91 - 1,542.91 (1,542.91) 0.0%6313766 Pesticides 8.00 - 8.00 657.80 - 657.80 - (657.80) 0.0%6313762 Supplies-Office 221.41 100.00 121.41 1,656.72 800.00 856.72 1,200.00 (456.72) -38.1%6313774 Sand - 100.00 (100.00) 2,781.08 6,260.00 (3,478.92) 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 92,350.00 (768.52) 93,750.00 2,168.52 2.3%6313778 Small Tools & Non-Capital Equip 292.91 100.00 192.91 7,693.37 6,100.00 1,593.37 6,500.00 (1,193.37) -18.4%6313780 Sod 152.06 - 152.06 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 & MATERIALS19,893.63 9,550.00 10,343.63 263,350.93 227,360.00 35,990.93 270,710.00 7,359.07 2.7%63-CM-REPAIRS & MAINTENANCE6315095 CM-R&M-Contract Lake Maint 510.99 1,500.00 (989.01) 8,106.88 8,000.00 106.88 14,000.00 5,893.12 42.1%6315685 CM-R&M-Bldngs & Othr Structures 198.00 250.00 (52.00) 931.91 500.00 431.91 500.00 (431.91) -86.4%6315690 CM-R&M-Equipment 2,272.90 1,400.00 872.90 34,243.90 23,200.00 11,043.90 28,800.00 (5,443.90) -18.9%6315692 CM-R&M-Irrigation System 1,061.21 1,000.00 61.21 8,185.99 11,450.00 (3,264.01) 15,450.00 7,264.01 47.0%6315696 CM-R&M-Pumps 72.43 - 72.43 25,747.55 4,000.00 21,747.55 5,000.00 (20,747.55) -415.0%6315815 CM-R&M-Trees-Pruning Etc - - - 1,905.00 4,000.00 (2,095.00) 4,000.00 2,095.00 52.4%Total-CM-REPAIRS & MAINTENANCE 4,115.53 4,150.00 (34.47) 79,121.23 51,150.00 27,971.23 67,750.00 (11,371.23) -16.8%63-CM-UTILTIES6317830 Utilities-Electricity-Bldngs - 1,106.00 (1,106.00) - 14,998.00 (14,998.00) 22,080.00 22,080.00 100.0%6317836 Utilities-Natural Gas/LPG - - - 148.46 - 148.46 (148.46) 0.0%6317840 Telephones 458.94 600.00 (141.06) 6,790.18 4,800.00 1,990.18 7,200.00 409.82 5.7%Total-CM-UTILITIES 458.94 1,706.00 (1,247.06) 6,938.64 19,798.00 (12,859.36) 29,280.00 22,341.36 76.3%63-CM-OTHER EXPENSES6319020 Auto Mileage/Allowance 500.00 500.00 - 4,000.00 4,000.00 - 6,000.00 2,000.00 33.3%6319099 Contract Svcs-Security - - - 657.19 - 657.19 (657.19) 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 728.54 600.00 128.54 11,335.34 4,800.00 6,535.34 7,200.00 (4,135.34) -57.4%6319150 Dues & Subscriptions - 200.00 (200.00) - 600.00 (600.00) 900.00 900.00 100.0%6319170 Employee Education - 50.00 (50.00) 325.00 400.00 (75.00) 600.00 275.00 45.8%6319197 Equipment Rental - 200.00 (200.00) 2,446.15 3,500.00 (1,053.85) 4,200.00 1,753.85 41.8%6319206 Licenses & Permits - 1,000.00 (1,000.00) - 1,200.00 (1,200.00) 1,600.00 1,600.00 100.0%6319490 Miscellaneous - 100.00 (100.00) 4,548.18 800.00 3,748.18 1,200.00 (3,348.18) -279.0%6319500 Propane/Natural Gas - 150.00 (150.00) - 1,200.00 (1,200.00) 1,800.00 1,800.00 100.0%6319718 Safety Equipment & Training 610.66 200.00 410.66 2,790.21 2,900.00 (109.79) 3,400.00 609.79 17.9%6319822 Uniforms 915.73 720.00 195.73 7,630.22 6,510.00 1,120.22 9,390.00 1,759.78 18.7%6319999 Capital Expense-Capex 3,700.00 3,700.00 - 29,600.00 29,600.00 - 44,400.00 14,800.00 33.3%Total-CM-OTHER EXPENSES 6,454.93 7,420.00 (965.07) 63,332.29 57,510.00 5,822.29 84,690.00 21,357.71 25.2%Month to Date Year to DateSilverRock ResortCourse Maintenance Expense StatementFebruary 2008Annual Budget4 FebruaryFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget632-CM-LANDSCAPE MAINTENANCE632-CM-LM-SALARIES & BENEFITS6321320 Insurance-Group 1,104.00 1,104.00 - 7,779.50 8,832.00 (1,052.50) 13,248.00 5,468.50 41.3%6321325 Insurance-Workers Comp 1,064.16 1,314.00 (249.84) 10,550.95 10,846.00 (295.05) 16,163.00 5,612.05 34.7%6321800 Taxes-Employer Payroll 1,702.77 1,636.00 66.77 12,608.41 13,711.00 (1,102.59) 20,369.00 7,760.59 38.1%6321880 Wages-Hourly 13,159.26 13,141.00 18.26 97,582.44 105,128.00 (7,545.56) 157,692.00 60,109.56 38.1%6321882 Wages-Overtime 142.70 - 142.70 12,217.80 5,005.00 7,212.80 5,915.00 (6,302.80) -106.6%Total-CM-LM-SALARIES & BENEFITS17,172.89 17,195.00 (22.11) 140,739.10 143,522.00 (2,782.90) 213,387.00 67,179.40 31.5%632-CM-LM-SUPPLIES & MATERIALS6323778 Small Tools - 75.00 (75.00) 650.00 725.00 (75.00) 1,025.00 375.00 36.6%6323788 Uniforms 212.43 240.00 (27.57) 2,078.36 1,920.00 158.36 2,880.00 801.64 27.8%Total-CM-LM-SUPPLIES & MATERIALS212.43 315.00 (102.57) 2,728.36 2,645.00 83.36 3,905.00 1,176.64 30.1%632-CM-LM-REPAIRS & MAINTENANCE6325687 CM-LM-R&M-Drip Irrigation - 250.00 (250.00) 2,085.76 3,000.00 (914.24) 4,250.00 2,164.24 50.9%Total-CM-LM-REPAIRS & MAINTENANCE - 250.00 (250.00) 2,085.76 3,000.00 (914.24) 4,250.00 2,164.24 50.9%632-CM-WATER & ENERGY6337834 Utilities-Electricity-Pumping 4,404.32 8,500.00 (4,095.68) 43,818.04 68,000.00 (24,181.96) 102,000.00 58,181.96 57.0%6337842 Utilities-Water20.00 1,427.00 (1,407.00) 16,380.64 11,645.00 4,735.64 18,126.00 1,745.36 9.6%Total-CM-WATER & ENERGY4,424.32 9,927.00 (5,502.68) 60,198.68 79,645.00 (19,446.32) 120,126.00 59,927.32 49.9%130,035.56 130,750.00 (714.44) 1,275,365.30 1,258,755.00 16,610.30 1,796,366.00 515,532.20 28.7%Total -COURSE MAINTENANCEMonth to Date Year to DateSilverrock ResortCourse Maintenance Expense StatementFebruary 2008Annual Budget5 FebruaryFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense641-CBR-SALARIES & BENEFITS6411175 Employee Meals 600.00 600.00 - 4,020.00 4,020.00 - 6,180.00 2,160.00 35.0%6411320 Insurance-Group 60.25 720.00 (659.75) 1,207.80 5,760.00 (4,552.20) 8,640.00 7,432.20 86.0%6411325 Insurance-Workers Comp 613.63 1,672.00 (1,058.37) 6,461.24 9,964.00 (3,502.76) 16,097.00 9,635.76 59.9%6411800 Taxes-Employer Payroll 1,581.38 1,449.00 132.38 8,000.71 8,637.00 (636.29) 13,956.00 5,955.29 42.7%6411880 Wages-Hourly 12,250.29 11,640.00 610.29 71,576.15 69,375.00 2,201.15 112,095.00 40,518.85 36.1%6411882 Wages-Overtime 22.31 - 22.31 1,086.40 - 1,086.40 - (1,086.40) 0.0%Total-CBR-SALARIES & BENEFITS15,127.86 16,081.00 (953.14) 92,352.30 97,756.00 (5,403.70) 156,968.00 64,615.70 41.2%641-CBR-SUPPLIES & MATERIALS6413732 Supplies-Carts 334.34 75.00 259.34 2,962.32 2,150.00 812.32 2,350.00 (612.32) -26.1%6413742 Supplies-Expendable 2,225.61 1,000.00 1,225.61 3,519.91 3,750.00 (230.09) 5,050.00 1,530.09 30.3%6413752 Supplies-Range Balls 1,363.31 - 1,363.31 7,524.92 6,000.00 1,524.92 6,000.00 (1,524.92) -25.4%6413762 Supplies-Office - 50.00 (50.00) 144.08 325.00 (180.92) 525.00 380.92 72.6%6413768 Supplies-Printing and Stationary - 70.00 (70.00) 1,161.00 140.00 1,021.00 420.00 (741.00) -176.4%6413786 Supplies-Towels - 72.00 (72.00) 1,332.43 2,004.00 (671.57) 2,292.00 959.57 41.9%6413796 Supplies-Bottled Water3,258.29 2,342.00 916.29 15,503.58 12,900.00 2,603.58 22,631.00 7,127.42 31.5%Total-CBR-SUPPLIES & MATERIALS7,181.55 3,609.00 3,572.55 32,148.24 27,269.00 4,879.24 39,268.00 7,119.76 18.1%641-CBR-REPAIRS & MAINTENANCE6415096 CBR-R&M-Contract Services-Carts 12.93 720.00 (707.07) 5,052.93 5,760.00 (707.07) 8,640.00 3,587.07 41.5%6415690 CBR-R&M-Equipment - 125.00 (125.00) 3,008.98 1,000.00 2,008.98 1,500.00 (1,508.98) -100.6%6415695 CBR-R&M-Cart Maintenance & Repair 870.00 250.00 620.00 1,020.00 3,000.00 (1,980.00) 4,000.00 2,980.00 74.5%Total-CBR-REPAIRS & MAINTENANCE 882.93 1,095.00 (212.07) 9,081.91 9,760.00 (678.09) 14,140.00 5,058.09 35.8%641-CBR-OTHER EXPENSES6419093 Contract Services-Handicaps 3,515.00 500.00 3,015.00 3,855.00 3,850.00 5.00 5,000.00 1,145.00 22.9%6419094 Contract Services-Laundry/Linen - 250.00 (250.00) 4,971.59 2,000.00 2,971.59 3,000.00 (1,971.59) -65.7%6419220 Freight/Delivery - 75.00 (75.00) 86.00 600.00 (514.00) 900.00 814.00 90.4%6419490 Miscellaneous - 75.00 (75.00) 107.34 650.00 (542.66) 1,150.00 1,042.66 90.7%6419820 Uniforms 343.18 - 343.18 2,373.64 3,000.00 (626.36) 5,625.00 3,251.36 57.8%Total-CBR-OTHER EXPENSES 3,858.18 900.00 2,958.18 11,393.57 10,100.00 1,293.57 15,675.00 4,281.43 27.3%TOTAL-CARTS,BAGROOM & RANGE 27,050.52 21,685.00 5,365.52 144,976.02 144,885.00 91.02 226,051.00 81,074.98 35.9%643-CS-SALARIES & BENEFITS6431175 Employee Meals 300.00 300.00 - 2,040.00 2,040.00 - 3,120.00 1,080.00 34.6%6431325 Insurance-Workers Comp 299.45 440.00 (140.55) 2,884.59 2,464.00 420.59 4,073.00 1,188.41 29.2%6431800 Taxes-Employer Payroll 766.78 548.00 218.78 4,371.85 3,066.00 1,305.85 5,071.00 699.15 13.8%6431880 Wages-Hourly 5,974.00 4,400.00 1,574.00 32,583.33 24,625.00 7,958.33 40,732.00 8,148.67 20.0%6431882 Wages-Overtime 15.00 - 15.00 177.61 - 177.61 - (177.61) 0.0%Total-CS-SALARIES & BENEFITS7,355.23 5,688.00 1,667.23 42,057.38 32,195.00 9,862.38 52,996.00 10,938.62 20.6%643-CS-OTHER EXPENSES6433742 Supplies Expendable 2,041.55 100.00 1,941.55 2,718.11 700.00 2,018.11 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) - 400.00 (400.00) 600.00 600.00 100.0%6439820 Uniforms - 75.00 (75.00) 883.73 1,275.00 (391.27) 1,900.00 1,016.27 53.5%6439999 Capital Expense-Capex 1,213.00 1,213.00 - 9,704.00 9,704.00 - 14,556.00 4,852.00 33.3%Total-CS-OTHER EXPENSES 3,254.55 1,438.00 1,816.55 13,366.84 12,079.00 1,287.84 18,306.00 4,939.16 27.0%Total-COURSE SERVICES 10,609.78 7,126.00 3,483.78 55,424.22 44,274.00 11,150.22 71,302.00 15,877.78 22.3%TOTAL OUTSIDE SERVICES 37,660.30 28,811.00 8,849.30 200,400.24 189,159.00 11,241.24 297,353.00 92,013.60 30.9%Month to Date Year to DateSilverRock ResortOutside Services Expense StatementFebruary 2008Annual Budget6 FebruaryFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense65-CH-SUPPLIES & MATERIALS6503742 Supplies-Expendable343.18 400.00 (56.82) 4,487.26 3,200.00 1,287.26 4,800.00 312.74 6.5%Total-CH-SUPPLIES & MATERIALS 343.18 400.00 (56.82) 4,487.26 3,200.00 1,287.26 4,800.00 312.74 6.5%65-CH-UTILITIES6507836 Utilities-Natural Gas702.81 300.00 402.81 3,352.10 2,400.00 952.10 3,600.00 247.90 6.9%6507838 Utilities-Sewer- 200.00 (200.00) - 1,600.00 (1,600.00) 2,400.00 2,400.00 100.0%6507840 Utilities-Telephone2,591.88 1,000.00 1,591.88 11,473.91 8,000.00 3,473.91 12,000.00 526.09 4.4%6507842 Utilities-Water- 200.00 (200.00) 1,309.32 1,600.00 (290.68) 2,400.00 1,090.68 45.4%6507844 Utilities-Cable211.58 317.00 (105.42) 3,249.85 2,536.00 713.85 3,800.00 550.15 14.5%Total-CH-UTILITIES 3,506.27 2,017.00 1,489.27 19,385.18 16,136.00 3,249.18 24,200.00 4,814.82 19.9%65-CH-OTHER EXPENSES6509091 Contract Services-Cleaning1,825.00 1,825.00 - 15,600.00 15,200.00 400.00 22,500.00 6,900.00 30.7%6509098 Contract Services-Refuse Dispose593.72 500.00 93.72 3,982.08 4,000.00 (17.92) 6,000.00 2,017.92 33.6%6509099 Contract Services-Security8,140.08 8,100.00 40.08 70,649.84 64,800.00 5,849.84 97,200.00 26,550.16 27.3%6509215 Flowers & Decorations- 100.00 (100.00) 1,319.08 2,200.00 (880.92) 2,600.00 1,280.92 49.3%6509490 Miscellaneous317.33 200.00 117.33 317.33 1,600.00 (1,282.67) 2,400.00 2,082.67 86.8%6509718 Safety Equipment & Training- 100.00 (100.00) - 800.00 (800.00) 1,200.00 1,200.00 100.0%Total-CH-OTHER EXPENSES 10,876.13 10,825.00 51.13 91,868.33 88,600.00 3,268.33 131,900.00 40,031.67 30.4%65-CH-REPAIRS & MAINTENANCE6515685 CH-R&M-Building Structures487.68 200.00 287.68 3,303.62 1,600.00 1,703.62 2,400.00 (903.62) -37.7%6515686 CH-R&M-Restaurant Repairs- 400.00 (400.00) 2,155.92 3,200.00 (1,044.08) 4,800.00 2,644.08 55.1%6515690 CH-R&M-Equipment Repair201.97 400.00 (198.03) 1,860.85 3,200.00 (1,339.15) 4,800.00 2,939.15 61.2%Total-CH-REPAIRS & MAINTENANCE 689.65 1,000.00 (310.35) 7,320.39 8,000.00 (679.61) 12,000.00 4,679.61 39.0%Total CLUBHOUSE 15,415.23 14,242.00 1,173.23 123,061.16 115,936.00 7,125.16 172,900.00 9,359.22 5.4%Month to Date Year to DateSilverRock ResortClubhouse Expense StatementFebruary 2008Annual Budget7 FebruaryFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense66-MKT-SUPPLIES & MATERIALS6603762 Supplies-Office - 100.00 (100.00) 664.46 800.00 (135.54) 1,200.00 535.54 44.6%6603768 Supplies-Printing & Stationery 1,551.56 125.00 1,426.56 3,396.79 3,925.00 (528.21) 4,425.00 1,028.21 23.2%1,551.56 225.00 1,326.56 4,061.25 4,725.00 (663.75) 5,625.00 1,563.75 27.8%66-MKT-UTILITIES6607840 Utilities-Telephone - 100.00 (100.00) 486.08 800.00 (313.92) 1,200.00 713.92 59.5%Total-MKT-UTILITIES - 100.00 (100.00) 486.08 800.00 (313.92) 1,200.00 713.92 59.5%66-MKT-OTHER EXPENSES6609010 Advertising 23,516.96 29,702.00 (6,185.04) 166,733.76 155,276.00 11,457.76 221,834.00 55,100.24 24.8%6609040 Business Meals - 25.00 (25.00) 49.67 200.00 (150.33) 300.00 250.33 83.4%6609080 Collateral Material - 500.00 (500.00) 3,507.19 6,500.00 (2,992.81) 9,000.00 5,492.81 61.0%6609102 Contract Services-Web Page 99.00 175.00 (76.00) 1,303.69 1,400.00 (96.31) 2,100.00 796.31 37.9%6609490 Miscellaneous - 50.00 (50.00) - 200.00 (200.00) 350.00 350.00 100.0%6609620 Postage - 50.00 (50.00) 222.75 400.00 (177.25) 600.00 377.25 62.9%6609630 Promotion - 500.00 (500.00) 51.70 6,500.00 (6,448.30) 6,500.00 6,448.30 0.0%6609633 Promotion-Community - 75.00 (75.00) - 2,625.00 (2,625.00) 2,925.00 2,925.00 100.0%6609634 Promotion-Media/Vender - 50.00 (50.00) - 500.00 (500.00) 700.00 - 0.0%6609150 Dues and Subscriptions - 400.00 (400.00) 1,015.00 435.00 580.00 735.00 (280.00) -38.1%6609820 Uniforms 268.90 50.00 218.90 268.90 500.00 (231.10) 600.00 331.10 55.2%Total-MKT-OTHER EXPENSES 23,884.86 31,577.00 (7,692.14) 173,152.66 174,536.00 (1,383.34) 245,644.00 71,791.34 29.2%Total-MARKETING 25,436.42 31,902.00 (6,465.58) 177,699.99 180,061.00 (2,361.01) 252,469.00 74,069.01 29.3%Month to Date Year to DateSilverRock ResortMarketing Expense StatementFebruary 2008Annual Budget8 FebruaryFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense67-G&A-SALARIES & BENEFITS6701175 Employee Meals 180.00 180.00 - 1,440.00 1,440.00 - 2,160.00 720.00 33.3%6701320 Insurance-Group1,364.85 1,980.00 (615.15) 13,696.45 15,840.00 (2,143.55) 23,760.00 10,063.55 42.4%6701325 Insurance-Workers Comp740.71 1,673.00 (932.29) 11,709.20 13,384.00 (1,674.80) 20,076.00 8,366.80 41.7%6701720 Salaries 12,145.11 14,000.00 (1,854.89) 106,922.87 112,000.00 (5,077.13) 168,000.00 61,077.13 36.4%6701800 Taxes-Employer Payroll 1,282.56 2,083.00 (800.44) 10,602.06 16,664.00 (6,061.94) 24,994.00 14,391.94 57.6%6701880 Wages-Hourly2,556.45 2,730.00 (173.55) 22,951.12 21,840.00 1,111.12 32,756.00 9,804.88 29.9%6701882 Wages-Overtime 112.50 - 112.50 112.50 - 112.50 - (112.50) 0.0%Total-G&A-SALARIES & BENEFITS 18,382.18 22,646.00 (4,263.82) 167,434.20 181,168.00 (13,733.80) 271,746.00 104,311.80 38.4%67-G&A-SUPPLIES & MATERIALS6703740 Supplies-Computer108.05 500.00 (391.95) 6,607.32 4,000.00 2,607.32 6,000.00 (607.32) -10.1%6703762 Supplies-Office - 125.00 (125.00) 899.55 1,000.00 (100.45) 1,500.00 600.45 40.0%6703768 Supplies-Printing & Stationery234.16 400.00 (165.84) 694.30 1,600.00 (905.70) 3,200.00 2,505.70 78.3%6703778Supplies-Small Tools/Non-Capital - 100.00 (100.00) 395.00 600.00 (205.00) 900.00 505.00 56.1%Total-G&A-SUPPLIES & MATERIALS 342.21 1,125.00 (782.79) 8,596.17 7,200.00 1,396.17 11,600.00 3,003.83 25.9%67-G&A-REPAIRS & MAINTENANCE6705690 Repairs & Maintenance-Equipment- 100.00 (100.00) 1,522.97 800.00 722.97 1,200.00 (322.97) -26.9%Total-G&A-REPAIRS & MAINTENANCE - 100.00 (100.00) 1,522.97 800.00 722.97 1,200.00 (322.97) -26.9%67-G&A-OTHER EXPENSES6709020 Auto/Mileage Allowance400.00 400.00 - 3,200.00 3,200.00 - 4,800.00 1,600.00 33.3%6709090 Contract Services999.65 - 999.65 1,719.65 - 1,719.65 - - 0.0%6709150 Dues & Subscriptions- 150.00 (150.00) 270.00 850.00 (580.00) 1,500.00 1,230.00 82.0%6709180 Employee Recruiting/Relocation646.55 200.00 446.55 2,404.72 4,400.00 (1,995.28) 4,600.00 2,195.28 47.7%6709197 Equipment Rental587.82 350.00 237.82 3,307.56 2,800.00 507.56 4,200.00 892.44 21.2%6709202 Fees-Bank20.00 300.00 (280.00) 361.56 2,400.00 (2,038.44) 3,600.00 3,238.44 90.0%6709204 Fees-Bank- - - 37.63 - 37.63 - (37.63) 0.0%6709208 Fees-Payroll Processing1,499.89 550.00 949.89 5,730.28 4,400.00 1,330.28 6,600.00 869.72 13.2%6709220 Freight/Delivery- 50.00 (50.00) 301.51 400.00 (98.49) 600.00 298.49 49.7%6709490 Miscellaneous 31.35 100.00 (68.65) 245.21 800.00 (554.79) 1,200.00 954.79 79.6%6709620 Postage/Mail Services 101.93 75.00 26.93 837.39 600.00 237.39 900.00 62.61 7.0%6709625 Professional Fees1,261.28 400.00 861.28 1,261.28 3,200.00 (1,938.72) 4,800.00 3,538.72 73.7%6709636 Promotion/Entertainment3,475.00 100.00 3,375.00 3,600.00 800.00 2,800.00 1,200.00 (2,400.00) -200.0%6709722 Seminars & Training732.89 - 732.89 1,271.34 500.00 771.34 900.00 (371.34) -41.3%6709810 Travel - 100.00 (100.00) - 200.00 (200.00) 1,100.00 1,100.00 100.0%6709820 Uniforms 359.71 75.00 284.71 548.04 750.00 (201.96) 1,050.00 501.96 47.8%Total-G&A-OTHER EXPENSES 10,116.07 2,850.00 7,266.07 25,096.17 25,300.00 (203.83) 37,050.00 13,673.48 36.9%Total-GENERAL & ADMINISTRATIVE28,840.46 26,721.00 2,119.46 202,649.51 214,468.00 (11,818.49) 321,596.00 120,666.14 37.5%Month to Date Year to DateSilverRock ResortGeneral & Administrative Expense StatementFebruary 2008Annual Budget9 FebruaryFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense68-LEASES6800192 Equipment Leases-Carts 10,239.47 9,800.00 439.47 79,120.13 78,400.00 720.13 117,600.00 38,479.87 32.7%6800193 Equipment Leases-Course Maint 17,488.00 20,000.00 (2,512.00) 143,487.09 160,000.00 (16,512.91) 240,000.00 96,512.91 40.2%6800194 Equipment Leases-Trailer 1,008.08 600.00 408.08 5,419.76 4,800.00 619.76 7,200.00 1,780.24 24.7%6800195 Equipment Leases-Software 2,210.93 1,525.00 685.93 15,953.37 12,200.00 3,753.37 18,300.00 2,346.63 12.8%6800196 Equipment Leases-GPS 6,840.14 7,400.00 (559.86) 54,721.12 59,200.00 (4,478.88) 88,800.00 34,078.88 38.4%6800198 Equipment Leases-Others 2,199.24 - 2,199.24 19,269.26 - 19,269.26 - - 0.0%Total-LEASES 39,985.86 39,325.00 660.86 317,970.73 314,600.00 3,370.73 471,900.00 173,198.53 36.7%69-MISC OTHER EXPENSES6900096 Contract Srvcs-Management Fee (6,843.03) (3,434.00) (3,409.03) 84,563.58 94,280.00 (9,716.42) 111,277.00 26,713.42 24.0%6900210 FF&E Reserve 10,909.36 10,802.00 107.36 31,976.54 39,168.00 (7,191.46) 71,686.00 39,709.46 55.4%6900800 Personal Property Taxes - - - 18,249.05 20,000.00 (1,750.95) 20,000.00 1,750.95 8.8%6900323 Insurance-Commercial 3,269.00 4,200.00 (931.00) 13,864.38 33,600.00 (19,735.62) 50,400.00 36,535.62 72.5%Total-MISC OTHER EXPENSES7,335.33 11,568.00 (4,232.67) 148,653.55 187,048.00 (38,394.45) 253,363.00 104,709.45 41.3%Annual BudgetMonth to Date Year to Date Operating Leases & Miscellaneous Other Expense StatementFebruary 200810 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 CategoryJanuaryFebruaryMarchAprilMayJuneMedia215Sales3PromotionGolf Industry11 37VIPCelebrityPGA Comp60 65Charity/Gift Certificate11 4Rain/Wind Checks44Club Staff59 32LQ HS Golf85147245000011 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report‐2007‐2008February 2008Date Time Description CategoryPlayers2/2/2008 12:15 Barry Gorfine - KESQ Media 32/4/2008 12:45 Dan Ball - KCBS Media 42/5/2008 8:45 John White - KCBS Media 42/15/2008 7:07 Scott Hennessee - KCBS Media 22/21/2008 7:22 Derek Eggers - Time Warner Sales 32/29/2008 11:45 John McDonald - Golf Digest Rater Media 212