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07 January 2008 SilverRock Resort - Monthly Financial Statement Monthly Financial Statements July 2007 – January 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 JanuaryFinal Budget Variance Percentages Unfavorable (-) Favorable (+) Final Budget Variance Annual Budget Unemcumb. % Bdgt Income400000 Golf Green Fee Revenue 237,784.40 235,000.00 2,784.40 1.2% 1,244,968.00 1,218,955.00 26,013.00 3,161,211.00 1,916,243.00 39%401000 Miscellaneous Golf Revenue 13,876.20 7,625.00 6,251.20 82.0% 63,303.00 47,313.00 15,990.00 83,725.00 20,422.00 76%410000 Revenue-Golf Shop 55,312.33 23,751.00 31,561.33 132.9% 169,810.27 144,502.00 25,308.27 327,370.00 157,559.73 52%420000 Revenue-F&B Concession 1,500.00 1,500.00 - 0.0% 7,500.00 7,500.00 - 12,000.00 4,500.00 63%890000 Interest Income - - - 0.0% 150.92 - 150.92 - (150.92) 0%Total Income308,472.93 267,876.00 40,596.93 15.2% 1,485,732.19 1,418,270.00 67,462.19 3,584,306.00 2,098,573.81 41%Cost of Goods Sold510000 COS-Golf Shop 31,668.94 12,606.05 19,062.89 -151.2% 122,857.15 76,694.10 (46,163.05) 173,752.00 50,894.85 71%Total COS31,668.94 12,606.05 19,062.89 -151.2% 122,857.15 76,694.10 (46,163.05) 173,752.00 50,894.85 71%Gross Profit276,803.99 255,269.95 21,534.04 8.4% 1,362,875.04 1,341,575.90 21,299.14 3,410,554.00 2,047,678.96 40%Expenses610000 Golf Pro Shop 26,430.25 24,285.00 (2,145.25) -8.8% 148,217.45 140,200.00 (8,017.45) 256,699.00 108,481.55 58%630000 Course Maintenance 134,213.75 133,560.00 (653.75) -0.5% 1,145,329.74 1,128,005.00 (17,324.74) 1,796,367.00 651,037.26 64%640000 Outside Services 31,536.91 28,715.00 (2,821.91) -9.8% 162,739.94 160,348.00 (2,391.94) 297,353.00 134,613.06 55%650000 Clubhouse 18,691.22 15,642.00 (3,049.22) -19.5% 107,645.93 101,694.00 (5,951.93) 172,900.00 65,254.07 62%660000 Marketing 32,584.42 35,022.00 2,437.58 7.0% 152,263.57 148,159.00 (4,104.57) 252,469.00 100,205.43 60%670000 General & Administrative 27,572.07 26,621.00 (951.07) -3.6% 173,259.57 187,747.00 14,487.43 321,596.00 148,336.43 54%680000 Leases 40,352.26 39,325.00 (1,027.26) -2.6% 277,984.87 275,275.00 (2,709.87) 471,900.00 193,915.13 59%690000 Miscellaneous Other Expense 10,636.53 21,773.00 11,136.47 51.1% 143,684.75 175,480.00 31,795.25 253,363.00 109,678.25 57%Total Expenses322,017.41 324,943.00 2,925.59 0.9% 2,311,125.82 2,316,908.00 5,782.18 3,822,647.00 1,511,521.18 60%Net Income (45,213.42) (69,673.05) 24,459.63 35.1%(948,250.78) (975,332.10) 27,081.32 (412,093.00) 536,157.78 230%Rounds of Golf PlayedPaid Rounds Played 2,484 2,500 (16) -0.6% 17,922 18,251 (329) 40,580 22,658 44%Ave $ Per Paid Round Green Fee 95.73 94.00 1.73 1.8% 69.47 66.79 2.68 77.90 8.43 89%Ave $ Per Paid Round Merchandise 22.27 9.50 12.77 134.4% 9.47 7.92 1.56 8.07 (1.40) 117%Ave $ Per Paid Miscellaneous 5.59 3.05 2.54 83.2% 3.53 2.59 0.94 2.06 - 0%Month to Date Year to DateJanuary 2008SilverRock ResortSummary Operating Income Statement1 Income JanuaryFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4000000 Revenue-Fees 237,784.40 235,000.00 2,784.40 1,244,968.00 1,218,955.00 26,013.00 3,161,211.001,916,243.0039%4010000 Rider Fee 375.00 250.00 125.00 3,250.00 1,825.00 1,425.00 4,058.00808.0080%4040000 Club Rental 1,490.00 875.00 615.00 14,140.00 6,388.00 7,752.00 14,203.0063.00100%4050000 Driving Range 5,126.00 2,000.00 3,126.00 22,716.00 14,600.00 8,116.00 32,464.009,748.0070%4060000 Handicap Fees 640.00 1,000.00 (360.00) 5,700.00 7,000.00 (1,300.00) 8,000.00 2,300.0071%4080000 GPS Advertising 3,500.00 1,000.00 2,500.00 10,237.50 10,000.00 237.50 12,000.00 1,762.5085%4090000 Ball Retriever/Subcontract 745.20 1,000.00 (254.80) 2,009.50 3,000.00 (990.50) 4,000.00 1,990.5050%4091000 Golf Professional Rental Fee 2,000.00 1,500.00 500.00 5,250.00 4,500.00 750.00 9,000.00 - 0% Total Revenue Fees 251,660.60 242,625.00 9,035.60 1,308,271.00 1,266,268.00 42,003.00 3,244,936.00 1,932,915.00 40%Total Income 251,660.60 242,625.00 9,035.60 1,308,271.00 1,266,268.00 42,003.00 3,244,936.00 1,932,915.00 40%Month to Date Year to Date Annual BudgetSilverRock ResortStatement of Fees RevenueJanuary 20082 Income JanuaryFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4100000 Sales Miscellaneous 139.25 - 139.25 3,838.69 - 3,838.69 4100110 Sales Hard Goods 13,601.50 8,313.00 5,288.50 55,697.47 50,576.00 5,121.47 114,580.00 58,882.53 49%4100112 Sales-Soft Goods 44,366.09 15,438.00 28,928.09 129,168.51 93,926.00 35,242.51 212,791.00 83,622.49 61%5100639 GS-Discounts-Mdse (2,794.51) - (2,794.51) (18,894.40) - (18,894.40) - 18,894.40 0% Total Revenue Golf Shop 55,312.33 23,751.00 31,561.33 169,810.27 144,502.00 25,308.27 327,371.00 161,399.42 51%COS 5100150 COS-GS-Hard Goods 10,654.66 4,572.15 6,082.51 36,188.78 27,816.80 8,371.98 63,019.00 26,830.22 57%5100151 COS-GS-Soft Goods 21,014.28 8,490.90 12,523.38 86,674.37 51,659.30 35,015.07 117,035.05 30,360.68 74%5100152 COS-GS-Purchase Disc - (653.00) 653.00 (6.00) (3,975.00) 3,969.00 (9,003.00) (8,997.00) 0%5100220 COS-GS-Freight Merch - 196.00 (196.00) - 1,193.00 (1,193.00) 2,701.00 2,701.00 0%Cost of Sales - Golf Shop 31,668.94 12,606.05 19,062.89 122,857.15 76,694.10 46,163.05 173,752.05 50,894.90 71%Gross Profit 23,643.39 11,144.95 12,498.44 46,953.12 67,807.90 (20,854.78) 153,618.95 110,504.52 28%COS % 57.3% 53.1% -4.2% 72.3% 53.1% -19.3% 53.1% 31.5% 41%Expense61-PS-SALARIES & BENEFITS6101175 Employee Meals 420.00 420.00 - 2,640.00 2,640.00 - 4,680.00 2,040.00 56%6101320 Insurance Group 3,084.80 3,360.00 (275.20) 20,669.16 18,840.00 1,829.16 35,640.00 14,970.84 58%6101325 Insurance-Workers Comp 1,406.74 1,498.00 (91.26) 9,011.13 8,877.00 134.13 16,247.00 7,235.87 55%6101720 Salaries 5,872.66 3,499.00 2,373.66 36,581.34 24,493.00 12,088.34 72,000.00 35,418.66 51%6101800 Taxes-Employer Payroll 2,324.72 1,865.00 459.72 8,664.30 11,053.00 (2,388.70) 20,228.00 11,563.70 43%6101880 Wages-Hourly 10,182.33 11,478.00 (1,295.67) 55,301.17 64,282.00 (8,980.83) 90,474.00 35,172.83 61%6101882 Wages-Overtime 1,980.03 - 1,980.03 2,196.55 - 2,196.55 - 952.88 0%Total -PS-SALARIES & BENEFITS 25,271.28 22,120.00 3,151.28 135,063.65 130,185.00 4,878.65 239,269.00 107,354.78 55%61-PS OTHER EXPENSES6103762 Supplies-Office 231.94 150.00 81.94 2,323.03 1,300.00 1,023.03 1,525.00 (798.03) 152%6109090 Contract Services 500.00 500.00 - 3,500.00 3,500.00 - 6,000.00 2,500.00 58%6109220 Freight & Delivery - - - 1,006.70 - 1,006.70 75.00 (931.70) 1342%6109490 Miscellaneous 166.26 50.00 116.26 307.96 200.00 107.96 450.00 142.04 68%6109150 Dues and Subscriptions - - - - - - 2,000.00 2,000.00 0%6109500 ProShop-Over/Short (9.00) - (9.00) (35.84) - (35.84) 35.84 0%6109722 Seminars/Training - 1,250.00 (1,250.00) 2,122.75 4,100.00 (1,977.25) 5,490.00 3,367.25 39%6109810 Travel - Merchandise - 15.00 (15.00) - 15.00 (15.00) 90.00 90.00 0%6109820 Uniforms - 200.00 (200.00) 3,031.79 900.00 2,131.79 1,800.00 (1,231.79) 168%6117840 Telephones 269.77 - 269.77 897.41 - 897.41 - (897.41) 0%Total PS-OTHER EXPENSES 1,158.97 2,165.00 (1,006.03) 13,153.80 10,015.00 3,138.80 17,430.00 4,276.20 75%Total Expenses26,430.25 24,285.00 2,145.25 148,217.45 140,200.00 8,017.45 256,699.00 111,630.98 57%Net Income(2,786.86) (13,140.05) 10,353.19 (101,264.33) (72,392.10) (28,872.23) (103,080.05) (1,126.46) -99%Month to Date Year to Date Annual BudgetSilverRock ResortGolf Shop Income StatementJanuary 20083 JanuaryFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense63-CM-SALARIES & BENEFITS6311175 Employee Meals 240.00 240.00 - 1,680.00 1,680.00 - 2,880.00 1,200.00 41.7%6311320 Insurance-Group 11,780.60 8,850.00 2,930.60 85,911.03 61,950.00 23,961.03 106,200.00 20,288.97 19.1%6311325 Insurance-Workers Comp 4,661.08 5,810.00 (1,148.92) 39,581.10 42,908.00 (3,326.90) 72,453.00 32,871.90 45.4%6311720 Salaries 11,038.48 12,331.00 (1,292.52) 77,269.36 86,317.00 (9,047.64) 148,000.00 70,730.64 47.8%6311800 Taxes-Employer Payroll 7,917.23 7,234.00 683.23 36,728.34 53,965.00 (17,236.66) 90,868.00 54,139.66 59.6%6311880 Wages-Hourly 37,319.74 45,772.00 (8,452.26) 308,282.44 320,404.00 (12,121.56) 565,951.00 257,668.56 45.5%6311882 Wages-Overtime 5,217.31 - 5,217.31 30,115.15 26,664.00 3,451.15 15,916.00 (14,199.15) -89.2%Total-CM-SALARIES & BENEFITS78,174.44 80,237.00 (2,062.56) 579,567.42 593,888.00 (14,320.58) 1,002,268.00 422,700.58 42.2%63-CM-SUPPLIES & MATERIALS6313734 Chemicals 3,937.19 2,000.00 1,937.19 17,547.75 16,800.00 747.75 12,300.00 (5,247.75) -42.7%6313744 Fertilizer 5,132.13 3,800.00 1,332.13 66,900.82 46,500.00 20,400.82 68,950.00 2,049.18 3.0%6313746 Flowers/Plants - 950.00 (950.00) 4,589.71 3,200.00 1,389.71 3,500.00 (1,089.71) -31.1%6313748 Fuel-Gasoline 3,156.00 2,900.00 256.00 27,036.68 26,200.00 836.68 41,400.00 14,363.32 34.7%6313750 Golf Course Accessories 214.33 200.00 14.33 7,775.34 3,700.00 4,075.34 4,200.00 (3,575.34) -85.1%6313756 POA Control 500.00 3,000.00 (2,500.00) 4,066.55 6,000.00 (1,933.45) 6,000.00 1,933.45 32.2%6313758 Miscellaneous Supp - - - 953.00 - 953.00 (953.00) 0.0%6313766 Pesticides 8.00 - 8.00 649.80 - 649.80 11,600.00 10,950.20 94.4%6313762 Supplies-Office 339.34 100.00 239.34 1,435.31 700.00 735.31 1,200.00 (235.31) -19.6%6313774 Sand - 380.00 (380.00) 2,781.08 6,160.00 (3,378.92) 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 92,000.00 (418.52) 93,750.00 2,168.52 2.3%6313778 Small Tools & Non-Capital Equip 229.44 100.00 129.44 7,400.46 6,000.00 1,400.46 6,500.00 (900.46) -13.9%6313780 Sod - 500.00 (500.00) 3,637.35 4,250.00 (612.65) 5,750.00 2,112.65 36.7%6313782 Topdressing - - - 7,101.97 1,300.00 5,801.97 3,900.00 (3,201.97) -82.1%Total-CM-SUPPLIES & MATERIALS13,516.43 14,280.00 (763.57) 243,457.30 217,810.00 25,647.30 270,710.00 27,252.70 10.1%63-CM-REPAIRS & MAINTENANCE6315095 CM-R&M-Contract Lake Maint 1,067.25 500.00 567.25 7,595.89 6,500.00 1,095.89 14,000.00 6,404.11 45.7%6315685 CM-R&M-Bldngs & Othr Structures 83.00 250.00 (167.00) 733.91 250.00 483.91 500.00 (233.91) -46.8%6315690 CM-R&M-Equipment 3,597.80 1,400.00 2,197.80 31,971.00 21,800.00 10,171.00 28,800.00 (3,171.00) -11.0%6315692 CM-R&M-Irrigation System 437.76 1,200.00 (762.24) 7,124.78 10,450.00 (3,325.22) 15,450.00 8,325.22 53.9%6315696 CM-R&M-Pumps 638.40 - 638.40 25,675.12 4,000.00 21,675.12 5,000.00 (20,675.12) -413.5%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 5,824.21 3,350.00 2,474.21 75,005.70 47,000.00 28,005.70 67,750.00 (7,255.70) -10.7%63-CM-UTILTIES6317830 Utilities-Electricity-Bldngs - 1,109.00 (1,109.00) - 13,892.00 (13,892.00) 22,080.00 22,080.00 100.0%6317836 Utilities-Natural Gas/LPG 32.11 - 32.11 148.46 - 148.46 (148.46) 0.0%6317840 Telephones 1,329.86 600.00 729.86 6,331.24 4,200.00 2,131.24 7,200.00 868.76 12.1%Total-CM-UTILITIES 1,361.97 1,709.00 (347.03) 6,479.70 18,092.00 (11,612.30) 29,280.00 22,800.30 77.9%63-CM-OTHER EXPENSES6319020 Auto Mileage/Allowance 500.00 500.00 - 3,500.00 3,500.00 - 6,000.00 2,500.00 41.7%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 461.43 600.00 (138.57) 10,606.80 4,200.00 6,406.80 7,200.00 (3,406.80) -47.3%6319150 Dues & Subscriptions - - - - 400.00 (400.00) 900.00 900.00 100.0%6319170 Employee Education - 50.00 (50.00) 325.00 350.00 (25.00) 600.00 275.00 45.8%6319197 Equipment Rental - 200.00 (200.00) 2,446.15 3,300.00 (853.85) 4,200.00 1,753.85 41.8%6319206 Licenses & Permits - - - - 200.00 (200.00) 1,600.00 1,600.00 100.0%6319490 Miscellaneous 503.89 100.00 403.89 4,548.18 700.00 3,848.18 1,200.00 (3,348.18) -279.0%6319500 Propane/Natural Gas - 150.00 (150.00) - 1,050.00 (1,050.00) 1,800.00 1,800.00 100.0%6319718 Safety Equipment & Training 282.67 200.00 82.67 2,179.55 2,700.00 (520.45) 3,400.00 1,220.45 35.9%6319822 Uniforms 727.47 720.00 7.47 6,714.49 5,790.00 924.49 9,390.00 2,675.51 28.5%6319999 Capital Expense-Capex 3,700.00 3,700.00 - 25,900.00 25,900.00 - 44,400.00 18,500.00 41.7%Total-CM-OTHER EXPENSES 6,175.46 6,220.00 (44.54) 56,877.36 50,090.00 6,787.36 84,690.00 27,812.64 32.8%Month to Date Year to DateSilverRock ResortCourse Maintenance Expense StatementJanuary 2008Annual Budget4 JanuaryFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget632-CM-LANDSCAPE MAINTENANCE632-CM-LM-SALARIES & BENEFITS6321320 Insurance-Group 1,104.00 1,104.00 - 6,675.50 7,728.00 (1,052.50) 13,248.00 6,572.50 49.6%6321325 Insurance-Workers Comp 1,573.59 1,314.00 259.59 9,486.79 9,532.00 (45.21) 16,163.00 6,676.21 41.3%6321800 Taxes-Employer Payroll 2,866.44 1,636.00 1,230.44 10,905.64 12,075.00 (1,169.36) 20,369.00 9,463.36 46.5%6321880 Wages-Hourly 14,949.55 13,141.00 1,808.55 84,423.18 91,987.00 (7,563.82) 157,692.00 73,268.82 46.5%6321882 Wages-Overtime 3,137.66 - 3,137.66 12,075.10 5,005.00 7,070.10 5,915.00 (6,160.10) -104.1%Total-CM-LM-SALARIES & BENEFITS23,631.24 17,195.00 6,436.24 123,566.21 126,327.00 (2,760.79) 213,387.00 83,248.29 39.0%632-CM-LM-SUPPLIES & MATERIALS6323778 Small Tools - 75.00 (75.00) 650.00 650.00 - 1,025.00 375.00 36.6%6323788 Uniforms 118.96 240.00 (121.04) 1,865.93 1,680.00 185.93 2,880.00 1,014.07 35.2%Total-CM-LM-SUPPLIES & MATERIALS118.96 315.00 (196.04) 2,515.93 2,330.00 185.93 3,905.00 1,389.07 35.6%632-CM-LM-REPAIRS & MAINTENANCE6325687 CM-LM-R&M-Drip Irrigation - 250.00 (250.00) 2,085.76 2,750.00 (664.24) 4,250.00 2,164.24 50.9%Total-CM-LM-REPAIRS & MAINTENANCE - 250.00 (250.00) 2,085.76 2,750.00 (664.24) 4,250.00 2,164.24 50.9%632-CM-WATER & ENERGY6337834 Utilities-Electricity-Pumping 3,746.62 8,500.00 (4,753.38) 39,413.72 59,500.00 (20,086.28) 102,000.00 62,586.28 61.4%6337842 Utilities-Water1,664.42 1,504.00 160.42 16,360.64 10,218.00 6,142.64 18,126.00 1,765.36 9.7%Total-CM-WATER & ENERGY5,411.04 10,004.00 (4,592.96) 55,774.36 69,718.00 (13,943.64) 120,126.00 64,351.64 53.6%134,213.75 133,560.00 653.75 1,145,329.74 1,128,005.00 17,324.74 1,796,366.00 644,463.76 35.9%Total -COURSE MAINTENANCEMonth to Date Year to DateSilverrock ResortCourse Maintenance Expense StatementJanuary 2008Annual Budget5 JanuaryFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense641-CBR-SALARIES & BENEFITS6411175 Employee Meals 600.00 600.00 - 3,420.00 3,420.00 - 6,180.00 2,760.00 44.7%6411320 Insurance-Group 779.00 720.00 59.00 1,147.55 5,040.00 (3,892.45) 8,640.00 7,492.45 86.7%6411325 Insurance-Workers Comp 1,249.27 1,672.00 (422.73) 5,847.61 8,292.00 (2,444.39) 16,097.00 10,249.39 63.7%6411800 Taxes-Employer Payroll 1,697.53 1,449.00 248.53 6,419.33 7,188.00 (768.67) 13,956.00 7,536.67 54.0%6411880 Wages-Hourly 13,586.35 11,640.00 1,946.35 59,325.86 57,735.00 1,590.86 112,095.00 52,769.14 47.1%6411882 Wages-Overtime 773.08 - 773.08 1,064.09 - 1,064.09 - (1,064.09) 0.0%Total-CBR-SALARIES & BENEFITS18,685.23 16,081.00 2,604.23 77,224.44 81,675.00 (4,450.56) 156,968.00 79,743.56 50.8%641-CBR-SUPPLIES & MATERIALS6413732 Supplies-Carts 304.42 75.00 229.42 2,627.98 2,075.00 552.98 2,350.00 (277.98) -11.8%6413742 Supplies-Expendable 237.91 150.00 87.91 1,294.30 2,750.00 (1,455.70) 5,050.00 3,755.70 74.4%6413752 Supplies-Range Balls 341.61 - 341.61 6,161.61 6,000.00 161.61 6,000.00 (161.61) -2.7%6413762 Supplies-Office 67.89 50.00 17.89 144.08 275.00 (130.92) 525.00 380.92 72.6%6413768 Supplies-Printing and Stationary - 70.00 (70.00) 1,161.00 70.00 1,091.00 420.00 (741.00) -176.4%6413786 Supplies-Towels 606.42 72.00 534.42 1,332.43 1,932.00 (599.57) 2,292.00 959.57 41.9%6413796 Supplies-Bottled Water323.01 2,596.00 (2,272.99) 12,245.29 10,558.00 1,687.29 22,631.00 10,385.71 45.9%Total-CBR-SUPPLIES & MATERIALS1,881.26 3,013.00 (1,131.74) 24,966.69 23,660.00 1,306.69 39,268.00 14,301.31 36.4%641-CBR-REPAIRS & MAINTENANCE6415096 CBR-R&M-Contract Services-Carts 720.00 720.00 - 5,040.00 5,040.00 - 8,640.00 3,600.00 41.7%6415690 CBR-R&M-Equipment - 125.00 (125.00) 3,008.98 875.00 2,133.98 1,500.00 (1,508.98) -100.6%6415695 CBR-R&M-Cart Maintenance & Repair - 250.00 (250.00) 150.00 2,750.00 (2,600.00) 4,000.00 3,850.00 96.3%Total-CBR-REPAIRS & MAINTENANCE 720.00 1,095.00 (375.00) 8,198.98 8,665.00 (466.02) 14,140.00 5,941.02 42.0%641-CBR-OTHER EXPENSES6419093 Contract Services-Handicaps - 1,000.00 (1,000.00) 340.00 3,350.00 (3,010.00) 5,000.00 4,660.00 93.2%6419094 Contract Services-Laundry/Linen 389.47 250.00 139.47 4,971.59 1,750.00 3,221.59 3,000.00 (1,971.59) -65.7%6419220 Freight/Delivery - 75.00 (75.00) 86.00 525.00 (439.00) 900.00 814.00 90.4%6419490 Miscellaneous 14.02 75.00 (60.98) 107.34 575.00 (467.66) 1,150.00 1,042.66 90.7%6419820 Uniforms - - - 2,030.46 3,000.00 (969.54) 5,625.00 3,594.54 63.9%Total-CBR-OTHER EXPENSES 403.49 1,400.00 (996.51) 7,535.39 9,200.00 (1,664.61) 15,675.00 8,139.61 51.9%TOTAL-CARTS,BAGROOM & RANGE 21,689.98 21,589.00 100.98 117,925.50 123,200.00 (5,274.50) 226,051.00 108,125.50 47.8%643-CS-SALARIES & BENEFITS6431175 Employee Meals 300.00 300.00 - 1,740.00 1,740.00 - 3,120.00 1,380.00 44.2%6431325 Insurance-Workers Comp 597.00 440.00 157.00 2,585.14 2,024.00 561.14 4,073.00 1,487.86 36.5%6431800 Taxes-Employer Payroll 874.93 548.00 326.93 3,605.07 2,518.00 1,087.07 5,071.00 1,465.93 28.9%6431880 Wages-Hourly 6,736.00 4,400.00 2,336.00 26,609.33 20,225.00 6,384.33 40,732.00 14,122.67 34.7%6431882 Wages-Overtime 126.00 - 126.00 162.61 - 162.61 - (162.61) 0.0%Total-CS-SALARIES & BENEFITS8,633.93 5,688.00 2,945.93 34,702.15 26,507.00 8,195.15 52,996.00 18,293.85 34.5%643-CS-OTHER EXPENSES6433742 Supplies Expendable - 100.00 (100.00) 676.56 600.00 76.56 1,050.00 373.44 35.6%6439490 Miscellaneous - - - 61.00 - 61.00 200.00 139.00 69.5%6439718 Safety Equipment & Training - 50.00 (50.00) - 350.00 (350.00) 600.00 600.00 100.0%6439820 Uniforms - 75.00 (75.00) 883.73 1,200.00 (316.27) 1,900.00 1,016.27 53.5%6439999 Capital Expense-Capex 1,213.00 1,213.00 - 8,491.00 8,491.00 - 14,556.00 6,065.00 41.7%Total-CS-OTHER EXPENSES 1,213.00 1,438.00 (225.00) 10,112.29 10,641.00 (528.71) 18,306.00 8,193.71 44.8%Total-COURSE SERVICES 9,846.93 7,126.00 2,720.93 44,814.44 37,148.00 7,666.44 71,302.00 26,487.56 37.1%TOTAL OUTSIDE SERVICES 31,536.91 28,715.00 2,821.91 162,739.94 160,348.00 2,391.94 297,353.00 126,419.35 42.5%Month to Date Year to DateSilverRock ResortOutside Services Expense StatementJanuary 2008Annual Budget6 JanuaryFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense65-CH-SUPPLIES & MATERIALS6503742 Supplies-Expendable1,234.97 400.00 834.97 4,144.08 2,800.00 1,344.08 4,800.00 655.92 13.7%Total-CH-SUPPLIES & MATERIALS 1,234.97 400.00 834.97 4,144.08 2,800.00 1,344.08 4,800.00 655.92 13.7%65-CH-UTILITIES6507836 Utilities-Natural Gas771.93 300.00 471.93 2,649.29 2,100.00 549.29 3,600.00 950.71 26.4%6507838 Utilities-Sewer- 200.00 (200.00) - 1,400.00 (1,400.00) 2,400.00 2,400.00 100.0%6507840 Utilities-Telephone1,153.12 1,000.00 153.12 8,882.03 7,000.00 1,882.03 12,000.00 3,117.97 26.0%6507842 Utilities-Water112.91 200.00 (87.09) 1,309.32 1,400.00 (90.68) 2,400.00 1,090.68 45.4%6507844 Utilities-Cable677.81 317.00 360.81 3,038.27 2,219.00 819.27 3,800.00 761.73 20.0%Total-CH-UTILITIES 2,715.77 2,017.00 698.77 15,878.91 14,119.00 1,759.91 24,200.00 8,321.09 34.4%65-CH-OTHER EXPENSES6509091 Contract Services-Cleaning2,200.00 1,825.00 375.00 13,775.00 13,375.00 400.00 22,500.00 8,725.00 38.8%6509098 Contract Services-Refuse Dispose468.64 500.00 (31.36) 3,388.36 3,500.00 (111.64) 6,000.00 2,611.64 43.5%6509099 Contract Services-Security10,881.20 8,100.00 2,781.20 62,509.76 56,700.00 5,809.76 97,200.00 34,690.24 35.7%6509215 Flowers & Decorations969.75 1,500.00 (530.25) 1,319.08 2,100.00 (780.92) 2,600.00 1,280.92 49.3%6509490 Miscellaneous- 200.00 (200.00) - 1,400.00 (1,400.00) 2,400.00 2,400.00 100.0%6509718 Safety Equipment & Training- 100.00 (100.00) - 700.00 (700.00) 1,200.00 1,200.00 100.0%Total-CH-OTHER EXPENSES 14,519.59 12,225.00 2,294.59 80,992.20 77,775.00 3,217.20 131,900.00 50,907.80 38.6%65-CH-REPAIRS & MAINTENANCE6515685 CH-R&M-Building Structures- 200.00 (200.00) 2,815.94 1,400.00 1,415.94 2,400.00 (415.94) -17.3%6515686 CH-R&M-Restaurant Repairs- 400.00 (400.00) 2,155.92 2,800.00 (644.08) 4,800.00 2,644.08 55.1%6515690 CH-R&M-Equipment Repair220.89 400.00 (179.11) 1,658.88 2,800.00 (1,141.12) 4,800.00 3,141.12 65.4%Total-CH-REPAIRS & MAINTENANCE 220.89 1,000.00 (779.11) 6,630.74 7,000.00 (369.26) 12,000.00 5,369.26 44.7%Total CLUBHOUSE 18,691.22 15,642.00 3,049.22 107,645.93 101,694.00 5,951.93 172,900.00 10,738.52 6.2%Month to Date Year to DateSilverRock ResortClubhouse Expense StatementJanuary 2008Annual Budget7 JanuaryFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense66-MKT-SUPPLIES & MATERIALS6603762 Supplies-Office - 100.00 (100.00) 664.46 700.00 (35.54) 1,200.00 535.54 44.6%6603768 Supplies-Printing & Stationery 1,239.07 200.00 1,039.07 1,845.23 3,800.00 (1,954.77) 4,425.00 2,579.77 58.3%1,239.07 300.00 939.07 2,509.69 4,500.00 (1,990.31) 5,625.00 3,115.31 55.4%66-MKT-UTILITIES6607840 Utilities-Telephone 66.22 100.00 (33.78) 486.08 700.00 (213.92) 1,200.00 713.92 59.5%Total-MKT-UTILITIES 66.22 100.00 (33.78) 486.08 700.00 (213.92) 1,200.00 713.92 59.5%66-MKT-OTHER EXPENSES6609010 Advertising 30,433.43 30,862.00 (428.57) 143,216.80 125,574.00 17,642.80 221,834.00 78,617.20 35.4%6609040 Business Meals - 25.00 (25.00) 49.67 175.00 (125.33) 300.00 250.33 83.4%6609080 Collateral Material - 2,500.00 (2,500.00) 3,507.19 6,000.00 (2,492.81) 9,000.00 5,492.81 61.0%6609102 Contract Services-Web Page 99.00 175.00 (76.00) 1,204.69 1,225.00 (20.31) 2,100.00 895.31 42.6%6609490 Miscellaneous - 50.00 (50.00) - 150.00 (150.00) 350.00 350.00 100.0%6609620 Postage - 50.00 (50.00) 222.75 350.00 (127.25) 600.00 377.25 62.9%6609630 Promotion 51.70 500.00 (448.30) 51.70 6,000.00 (5,948.30) 6,500.00 6,448.30 0.0%6609633 Promotion-Community - 75.00 (75.00) - 2,550.00 (2,550.00) 2,925.00 2,925.00 100.0%6609634 Promotion-Media/Vender - 300.00 (300.00) - 450.00 (450.00) 700.00 - 0.0%6609150 Dues and Subscriptions 695.00 35.00 660.00 1,015.00 35.00 980.00 735.00 (280.00) -38.1%6609820 Uniforms - 50.00 (50.00) - 450.00 (450.00) 600.00 600.00 100.0%Total-MKT-OTHER EXPENSES 31,279.13 34,622.00 (3,342.87) 149,267.80 142,959.00 6,308.80 245,644.00 95,676.20 38.9%Total-MARKETING 32,584.42 35,022.00 (2,437.58) 152,263.57 148,159.00 4,104.57 252,469.00 99,505.43 39.4%Month to Date Year to DateSilverRock ResortMarketing Expense StatementJanuary 2008Annual Budget8 JanuaryFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense67-G&A-SALARIES & BENEFITS6701175 Employee Meals 180.00 180.00 - 1,260.00 1,260.00 - 2,160.00 900.00 41.7%6701320 Insurance-Group1,839.46 1,980.00 (140.54) 12,331.60 13,860.00 (1,528.40) 23,760.00 11,428.40 48.1%6701325 Insurance-Workers Comp1,457.47 1,673.00 (215.53) 10,968.49 11,711.00 (742.51) 20,076.00 9,107.51 45.4%6701720 Salaries 13,786.90 14,000.00 (213.10) 94,777.76 98,000.00 (3,222.24) 168,000.00 73,222.24 43.6%6701800 Taxes-Employer Payroll 2,144.30 2,083.00 61.30 9,319.50 14,581.00 (5,261.50) 24,994.00 15,674.50 62.7%6701880 Wages-Hourly5,141.24 2,730.00 2,411.24 20,394.67 19,110.00 1,284.67 32,756.00 12,361.33 37.7%6701882 Wages-Overtime - - - - - - - - 0.0%Total-G&A-SALARIES & BENEFITS 24,549.37 22,646.00 1,903.37 149,052.02 158,522.00 (9,469.98) 271,746.00 122,693.98 45.2%67-G&A-SUPPLIES & MATERIALS6703740 Supplies-Computer1,445.00 500.00 945.00 6,499.27 3,500.00 2,999.27 6,000.00 (499.27) -8.3%6703762 Supplies-Office - 125.00 (125.00) 899.55 875.00 24.55 1,500.00 600.45 40.0%6703768 Supplies-Printing & Stationery17.11 400.00 (382.89) 460.14 1,200.00 (739.86) 3,200.00 2,739.86 85.6%6703778Supplies-Small Tools/Non-Capital - 100.00 (100.00) 395.00 500.00 (105.00) 900.00 505.00 56.1%Total-G&A-SUPPLIES & MATERIALS 1,462.11 1,125.00 337.11 8,253.96 6,075.00 2,178.96 11,600.00 3,346.04 28.8%67-G&A-REPAIRS & MAINTENANCE6705690 Repairs & Maintenance-Equipment48.47 100.00 (51.53) 1,522.97 700.00 822.97 1,200.00 (322.97) -26.9%Total-G&A-REPAIRS & MAINTENANCE 48.47 100.00 (51.53) 1,522.97 700.00 822.97 1,200.00 (322.97) -26.9%67-G&A-OTHER EXPENSES6709020 Auto/Mileage Allowance400.00 400.00 - 2,800.00 2,800.00 - 4,800.00 2,000.00 41.7%6709090 Contract Services- - - 720.00 - 720.00 - - 0.0%6709150 Dues & Subscriptions- 150.00 (150.00) 270.00 700.00 (430.00) 1,500.00 1,230.00 82.0%6709180 Employee Recruiting/Relocation50.00 200.00 (150.00) 1,758.17 4,200.00 (2,441.83) 4,600.00 2,841.83 61.8%6709197 Equipment Rental522.75 350.00 172.75 2,719.74 2,450.00 269.74 4,200.00 1,480.26 35.2%6709202 Fees-Bank- 300.00 (300.00) 321.56 2,100.00 (1,778.44) 3,600.00 3,278.44 91.1%6709204 Fees-Bank- - - 37.63 - 37.63 - (37.63) 0.0%6709208 Fees-Payroll Processing180.80 550.00 (369.20) 3,700.91 3,850.00 (149.09) 6,600.00 2,899.09 43.9%6709220 Freight/Delivery17.93 50.00 (32.07) 301.51 350.00 (48.49) 600.00 298.49 49.7%6709490 Miscellaneous - 100.00 (100.00) 213.86 700.00 (486.14) 1,200.00 986.14 82.2%6709620 Postage/Mail Services 215.64 75.00 140.64 735.46 525.00 210.46 900.00 164.54 18.3%6709625 Professional Fees- 400.00 (400.00) - 2,800.00 (2,800.00) 4,800.00 4,800.00 100.0%6709636 Promotion/Entertainment125.00 100.00 25.00 125.00 700.00 (575.00) 1,200.00 1,075.00 89.6%6709722 Seminars & Training- - - 538.45 500.00 38.45 900.00 361.55 40.2%6709810 Travel - - - - 100.00 (100.00) 1,100.00 1,100.00 100.0%6709820 Uniforms - 75.00 (75.00) 188.33 675.00 (486.67) 1,050.00 861.67 82.1%Total-G&A-OTHER EXPENSES 1,512.12 2,750.00 (1,237.88) 14,430.62 22,450.00 (8,019.38) 37,050.00 23,339.38 63.0%Total-GENERAL & ADMINISTRATIVE27,572.07 26,621.00 951.07 173,259.57 187,747.00 (14,487.43) 321,596.00 149,056.43 46.3%Month to Date Year to DateSilverRock ResortGeneral & Administrative Expense StatementJanuary 2008Annual Budget9 JanuaryFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense68-LEASES6800192 Equipment Leases-Carts 10,239.47 9,800.00 439.47 68,880.66 68,600.00 280.66 117,600.00 48,719.34 41.4%6800193 Equipment Leases-Course Maint 17,527.41 20,000.00 (2,472.59) 125,999.09 140,000.00 (14,000.91) 240,000.00 114,000.91 47.5%6800194 Equipment Leases-Trailer 365.86 600.00 (234.14) 4,411.68 4,200.00 211.68 7,200.00 2,788.32 38.7%6800195 Equipment Leases-Software 3,164.86 1,525.00 1,639.86 13,742.44 10,675.00 3,067.44 18,300.00 4,557.56 24.9%6800196 Equipment Leases-GPS 6,840.14 7,400.00 (559.86) 47,880.98 51,800.00 (3,919.02) 88,800.00 40,919.02 46.1%6800198 Equipment Leases-Others 2,214.52 - 2,214.52 17,070.02 - 17,070.02 - - 0.0%Total-LEASES 40,352.26 39,325.00 1,027.26 277,984.87 275,275.00 2,709.87 471,900.00 210,985.15 44.7%69-MISC OTHER EXPENSES6900096 Contract Srvcs-Management Fee 4,833.31 12,215.00 (7,381.69) 88,739.92 97,714.00 (8,974.08) 111,277.00 22,537.08 20.3%6900210 FF&E Reserve 5,033.22 5,358.00 (324.78) 26,100.40 28,366.00 (2,265.60) 71,686.00 45,585.60 63.6%6900800 Personal Property Taxes - - - 18,249.05 20,000.00 (1,750.95) 20,000.00 1,750.95 8.8%6900323 Insurance-Commercial 770.00 4,200.00 (3,430.00) 10,595.38 29,400.00 (18,804.62) 50,400.00 39,804.62 79.0%Total-MISC OTHER EXPENSES10,636.53 21,773.00 (11,136.47) 143,684.75 175,480.00 (31,795.25) 253,363.00 109,678.25 43.3%Annual BudgetMonth to Date Year to Date Operating Leases & Miscellaneous Other Expense StatementJanuary 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 CategoryJanuaryFebruaryMarchAprilMayJuneMedia2SalesPromotionGolf Industry11VIPCelebrityPGA Comp60Charity/Gift Certificate11Rain/Wind Checks4Club Staff59LQ HS Golf1470000011 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report‐2007‐2008January 2008Date Time Description CategoryPlayers1/25/2008 7:45 Kris Long - Scott Hennessee Media 212