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09 March 2008 SilverRock Resort - Monthly Financial Statement Monthly Financial Statements July 2007 – March 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 597,566.15 577,100.00 20,466.15 3.5% 2,368,849.85 2,281,615.00 87,234.85 3,161,211.00 792,361.15 75%401000 Miscellaneous Golf Revenue 20,593.50 10,250.00 10,343.50 100.9% 103,048.50 66,663.00 36,385.50 83,725.00 (19,323.50) 123%410000 Revenue-Golf Shop 49,899.74 52,200.00 (2,300.26) -4.4% 270,976.17 240,622.00 30,354.17 327,370.00 56,393.83 83%420000 Revenue-F&B Concession 1,500.00 1,500.00 - 0.0% 10,500.00 10,500.00 - 12,000.00 1,500.00 88%890000 Interest Income 17.47 - 17.47 0.0% 189.35 - 189.35 - (189.35) 0%Total Income669,576.86 641,050.00 28,526.86 4.5% 2,753,563.87 2,599,400.00 154,163.87 3,584,306.00 830,742.13 77%Cost of Goods Sold510000 COS-Golf Shop 26,912.44 27,705.00 (792.56) 2.9% 149,596.67 127,709.10 (21,887.57) 173,752.00 24,155.33 86%Total COS26,912.44 27,705.00 (792.56) 2.9% 149,596.67 127,709.10 (21,887.57) 173,752.00 24,155.33 86%Gross Profit642,664.42 613,345.00 29,319.42 4.8% 2,603,967.20 2,471,690.90 132,276.30 3,410,554.00 806,586.80 76%Expenses610000 Golf Pro Shop 24,428.14 22,965.00 (1,463.14) -6.4% 194,700.29 186,130.00 (8,570.29) 256,699.00 61,998.71 76%630000 Course Maintenance 132,552.27 129,254.00 (3,298.27) -2.6% 1,407,917.57 1,388,009.00 (19,908.57) 1,796,367.00 388,449.43 78%640000 Outside Services 29,585.19 29,807.00 221.81 0.7% 229,985.43 218,966.00 (11,019.43) 297,353.00 67,367.57 77%650000 Clubhouse 14,059.82 14,242.00 182.18 1.3% 137,120.98 130,178.00 (6,942.98) 172,900.00 35,779.02 79%660000 Marketing 20,968.75 25,652.00 4,683.25 18.3% 198,668.74 205,713.00 7,044.26 252,469.00 53,800.26 79%670000 General & Administrative 23,587.61 26,521.00 2,933.39 11.1% 226,237.12 240,989.00 14,751.88 321,596.00 95,358.88 70%680000 Leases 38,837.24 39,325.00 487.76 1.2% 356,807.97 353,925.00 (2,882.97) 471,900.00 115,092.03 76%690000 Miscellaneous Other Expense 7,302.51 7,121.00 (181.51) -2.5% 155,956.06 194,169.00 38,212.94 253,363.00 97,406.94 62%Total Expenses291,321.53 294,887.00 3,565.47 1.2% 2,907,394.16 2,918,079.00 10,684.84 3,822,647.00 915,252.84 76%Net Income 351,342.89 318,458.00 32,884.89 10.3%(303,426.96) (446,388.10) 142,961.14 (412,093.00) (108,666.04) 74%Rounds of Golf PlayedPaid Rounds Played 5,874 5,800 74 1.3% 28,783 28,930 (147) 40,580 11,797 71%Ave $ Per Paid Round Green Fee 101.73 99.50 2.23 2.2% 82.30 78.87 3.43 77.90 (4.40) 106%Ave $ Per Paid Round Merchandise 8.50 9.00 (0.50) -5.6% 9.41 8.32 1.10 8.07 (1.34) 117%Ave $ Per Paid Miscellaneous 3.51 1.77 1.74 98.4% 3.58 2.30 1.28 2.06 - 0%Month to Date Year to DateMarch 2008SilverRock ResortSummary Operating Income Statement1 Income MarchFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4000000 Revenue-Fees 597,566.15 577,100.00 20,466.15 2,368,849.85 2,281,615.00 87,234.85 3,161,211.00792,361.1575%4010000 Rider Fee 1,100.00 580.00 520.00 4,750.00 2,893.00 1,857.00 4,058.00-692.00117%4040000 Club Rental 3,035.00 2,030.00 1,005.00 20,565.00 10,126.00 10,439.00 14,203.00-6,362.00145%4050000 Driving Range 10,776.00 4,640.00 6,136.00 44,259.00 23,144.00 21,115.00 32,464.00-11,795.00136%4060000 Handicap Fees 505.00 500.00 5.00 6,550.00 8,000.00 (1,450.00) 8,000.00 1,450.0082%4080000 GPS Advertising 3,177.50 1,000.00 2,177.50 16,165.00 12,000.00 4,165.00 12,000.00 -4,165.00135%4090000 Ball Retriever/Subcontract - - - 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 8,750.00 7,500.00 1,250.00 9,000.00 - 0% Total Revenue Fees 618,159.65 587,350.00 30,809.65 2,471,898.35 2,348,278.00 123,620.35 3,244,936.00 772,787.65 76%Total Income 618,159.65 587,350.00 30,809.65 2,471,898.35 2,348,278.00 123,620.35 3,244,936.00 772,787.65 76%Month to Date Year to Date Annual BudgetSilverRock ResortStatement of Fees RevenueMarch 20082 Income MarchFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4100000 Sales Miscellaneous 488.00 - 488.00 4,837.63 - 4,837.63 4100110 Sales Hard Goods 15,827.63 18,270.00 (2,442.37) 87,623.31 84,218.00 3,405.31 114,580.00 26,956.69 76%4100112 Sales-Soft Goods 38,751.58 33,930.00 4,821.58 207,451.41 156,404.00 51,047.41 212,791.00 5,339.59 97%5100639 GS-Discounts-Mdse (5,167.47) - (5,167.47) (28,936.18) - (28,936.18) - 28,936.18 0% Total Revenue Golf Shop 49,899.74 52,200.00 (2,300.26) 270,976.17 240,622.00 30,354.17 327,371.00 61,232.46 81%COS 5100150 COS-GS-Hard Goods 8,395.47 10,048.50 (1,653.03) 55,160.68 46,319.90 8,840.78 63,019.00 7,858.32 88%5100151 COS-GS-Soft Goods 18,516.97 18,661.50 (144.53) 94,441.99 86,022.20 8,419.79 117,035.05 22,593.06 81%5100152 COS-GS-Purchase Disc - (1,436.00) 1,436.00 (6.00) (6,619.00) 6,613.00 (9,003.00) (8,997.00) 0%5100220 COS-GS-Freight Merch - 431.00 (431.00) - 1,986.00 (1,986.00) 2,701.00 2,701.00 0%Cost of Sales - Golf Shop 26,912.44 27,705.00 (792.56) 149,596.67 127,709.10 21,887.57 173,752.05 24,155.38 86%Gross Profit 22,987.30 24,495.00 (1,507.70) 121,379.50 112,912.90 8,466.60 153,618.95 37,077.08 76%COS % 53.9% 53.1% -0.9% 55.2% 53.1% -2.1% 53.1% 39.4% 26%Expense61-PS-SALARIES & BENEFITS6101175 Employee Meals 420.00 420.00 - 3,480.00 3,480.00 - 4,680.00 1,200.00 74%6101320 Insurance Group 3,336.45 3,360.00 (23.55) 26,964.31 25,560.00 1,404.31 35,640.00 8,675.69 76%6101325 Insurance-Workers Comp 1,068.77 1,498.00 (429.23) 11,243.41 11,873.00 (629.59) 16,247.00 5,003.59 69%6101720 Salaries 5,872.66 3,499.00 2,373.66 48,326.66 31,491.00 16,835.66 72,000.00 23,673.34 67%6101800 Taxes-Employer Payroll 1,997.13 1,865.00 132.13 12,580.37 14,783.00 (2,202.63) 20,228.00 7,647.63 62%6101880 Wages-Hourly 9,326.83 11,478.00 (2,151.17) 73,141.49 87,238.00 (14,096.51) 90,474.00 17,332.51 81%6101882 Wages-Overtime 68.54 - 68.54 2,422.79 - 2,422.79 - 952.88 0%Total -PS-SALARIES & BENEFITS 22,090.38 22,120.00 (29.62) 178,159.03 174,425.00 3,734.03 239,269.00 64,485.64 73%61-PS OTHER EXPENSES6103762 Supplies-Office - 45.00 (45.00) 2,323.03 1,390.00 933.03 1,525.00 (798.03) 152%6109090 Contract Services 500.00 500.00 - 4,500.00 4,500.00 - 6,000.00 1,500.00 75%6109220 Freight & Delivery 83.41 - 83.41 1,354.26 - 1,354.26 75.00 (1,279.26) 1806%6109490 Miscellaneous - 50.00 (50.00) 307.96 300.00 7.96 450.00 142.04 68%6109150 Dues and Subscriptions 296.25 - 296.25 324.19 - 324.19 2,000.00 1,675.81 16%6109500 ProShop-Over/Short (1.25) - (1.25) (22.53) - (22.53) 22.53 0%6109722 Seminars/Training 826.25 35.00 791.25 2,949.00 4,170.00 (1,221.00) 5,490.00 2,541.00 54%6109810 Travel - Merchandise - 15.00 (15.00) - 45.00 (45.00) 90.00 90.00 0%6109820 Uniforms 167.02 200.00 (32.98) 3,441.86 1,300.00 2,141.86 1,800.00 (1,641.86) 191%6117840 Telephones 466.08 - 466.08 1,363.49 - 1,363.49 - (1,363.49) 0%Total PS-OTHER EXPENSES 2,337.76 845.00 1,492.76 16,541.26 11,705.00 4,836.26 17,430.00 888.74 95%Total Expenses24,428.14 22,965.00 1,463.14 194,700.29 186,130.00 8,570.29 256,699.00 65,374.38 75%Net Income(1,440.84) 1,530.00 (2,970.84) (73,320.79) (73,217.10) (103.69) (103,080.05) (28,297.30) -73%Month to Date Year to Date Annual BudgetSilverRock ResortGolf Shop Income StatementMarch 20083 MarchFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense63-CM-SALARIES & BENEFITS6311175 Employee Meals 240.00 240.00 - 2,160.00 2,160.00 - 2,880.00 720.00 25.0%6311320 Insurance-Group 14,702.51 8,850.00 5,852.51 120,019.10 79,650.00 40,369.10 106,200.00 (13,819.10) -13.0%6311325 Insurance-Workers Comp 3,500.37 5,811.00 (2,310.63) 46,933.42 54,529.00 (7,595.58) 72,453.00 25,519.58 35.2%6311720 Salaries 11,038.48 12,333.00 (1,294.52) 99,346.32 110,981.00 (11,634.68) 148,000.00 48,653.68 32.9%6311800 Taxes-Employer Payroll 5,374.87 7,235.00 (1,860.13) 47,759.27 68,434.00 (20,674.73) 90,868.00 43,108.73 47.4%6311880 Wages-Hourly 39,476.69 45,780.00 (6,303.31) 384,493.86 411,956.00 (27,462.14) 565,951.00 181,457.14 32.1%6311882 Wages-Overtime 120.00 - 120.00 30,611.26 26,664.00 3,947.26 15,916.00 (14,695.26) -92.3%Total-CM-SALARIES & BENEFITS74,452.92 80,249.00 (5,796.08) 731,323.23 754,374.00 (23,050.77) 1,002,268.00 270,944.77 27.0%63-CM-SUPPLIES & MATERIALS6313734 Chemicals 6,678.40 200.00 6,478.40 26,673.48 19,000.00 7,673.48 23,900.00 (2,773.48) -11.6%6313744 Fertilizer 5,142.74 5,000.00 142.74 80,048.04 55,300.00 24,748.04 68,950.00 (11,098.04) -16.1%6313746 Flowers/Plants - 100.00 (100.00) 5,020.71 3,400.00 1,620.71 3,500.00 (1,520.71) -43.4%6313748 Fuel-Gasoline 5,771.10 3,200.00 2,571.10 36,228.47 32,300.00 3,928.47 41,400.00 5,171.53 12.5%6313750 Golf Course Accessories 948.64 100.00 848.64 10,474.59 3,900.00 6,574.59 4,200.00 (6,274.59) -149.4%6313756 POA Control 164.70 - 164.70 6,806.48 6,000.00 806.48 6,000.00 (806.48) -13.4%6313758 Miscellaneous Supp 1,330.01 - 1,330.01 2,872.92 - 2,872.92 (2,872.92) 0.0%6313766 Pesticides - - - 657.80 - 657.80 - (657.80) 0.0%6313762 Supplies-Office - 100.00 (100.00) 1,656.72 900.00 756.72 1,200.00 (456.72) -38.1%6313774 Sand - 100.00 (100.00) 2,781.08 6,360.00 (3,578.92) 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 92,700.00 (1,118.52) 93,750.00 2,168.52 2.3%6313778 Small Tools & Non-Capital Equip 179.34 100.00 79.34 7,872.71 6,200.00 1,672.71 6,500.00 (1,372.71) -21.1%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 & MATERIALS20,214.93 9,250.00 10,964.93 283,565.86 236,610.00 46,955.86 270,710.00 (12,855.86) -4.7%63-CM-REPAIRS & MAINTENANCE6315095 CM-R&M-Contract Lake Maint 801.75 1,500.00 (698.25) 8,908.63 9,500.00 (591.37) 14,000.00 5,091.37 36.4%6315685 CM-R&M-Bldngs & Othr Structures 328.50 - 328.50 1,260.41 500.00 760.41 500.00 (760.41) -152.1%6315690 CM-R&M-Equipment 3,372.35 1,400.00 1,972.35 37,616.25 24,600.00 13,016.25 28,800.00 (8,816.25) -30.6%6315692 CM-R&M-Irrigation System 2,613.48 1,000.00 1,613.48 10,799.47 12,450.00 (1,650.53) 15,450.00 4,650.53 30.1%6315696 CM-R&M-Pumps 334.24 - 334.24 26,081.79 4,000.00 22,081.79 5,000.00 (21,081.79) -421.6%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 7,450.32 3,900.00 3,550.32 86,571.55 55,050.00 31,521.55 67,750.00 (18,821.55) -27.8%63-CM-UTILTIES6317830 Utilities-Electricity-Bldngs - 1,021.00 (1,021.00) - 16,019.00 (16,019.00) 22,080.00 22,080.00 100.0%6317836 Utilities-Natural Gas/LPG - - - 148.46 - 148.46 (148.46) 0.0%6317840 Telephones 717.92 600.00 117.92 7,508.10 5,400.00 2,108.10 7,200.00 (308.10) -4.3%Total-CM-UTILITIES 717.92 1,621.00 (903.08) 7,656.56 21,419.00 (13,762.44) 29,280.00 21,623.44 73.9%63-CM-OTHER EXPENSES6319020 Auto Mileage/Allowance 500.00 500.00 - 4,500.00 4,500.00 - 6,000.00 1,500.00 25.0%6319099 Contract Svcs-Security 210.00 - 210.00 867.19 - 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 683.54 600.00 83.54 12,018.88 5,400.00 6,618.88 7,200.00 (4,818.88) -66.9%6319150 Dues & Subscriptions - - - - 600.00 (600.00) 900.00 900.00 100.0%6319170 Employee Education 250.00 50.00 200.00 575.00 450.00 125.00 600.00 25.00 4.2%6319197 Equipment Rental 344.75 200.00 144.75 2,790.90 3,700.00 (909.10) 4,200.00 1,409.10 33.6%6319206 Licenses & Permits - 250.00 (250.00) - 1,450.00 (1,450.00) 1,600.00 1,600.00 100.0%6319490 Miscellaneous - 100.00 (100.00) 4,548.18 900.00 3,648.18 1,200.00 (3,348.18) -279.0%6319500 Propane/Natural Gas - 150.00 (150.00) - 1,350.00 (1,350.00) 1,800.00 1,800.00 100.0%6319718 Safety Equipment & Training - 200.00 (200.00) 2,790.21 3,100.00 (309.79) 3,400.00 609.79 17.9%6319822 Uniforms 717.07 720.00 (2.93) 8,347.29 7,230.00 1,117.29 9,390.00 1,042.71 11.1%6319999 Capital Expense-Capex 3,700.00 3,700.00 - 33,300.00 33,300.00 - 44,400.00 11,100.00 25.0%Total-CM-OTHER EXPENSES 6,405.36 6,470.00 (64.64) 69,737.65 63,980.00 5,757.65 84,690.00 14,952.35 17.7%Month to Date Year to DateSilverRock ResortCourse Maintenance Expense StatementMarch 2008Annual Budget4 MarchFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget632-CM-LANDSCAPE MAINTENANCE632-CM-LM-SALARIES & BENEFITS6321320 Insurance-Group 1,104.00 1,104.00 - 8,883.50 9,936.00 (1,052.50) 13,248.00 4,364.50 32.9%6321325 Insurance-Workers Comp 886.80 1,314.00 (427.20) 11,437.75 12,160.00 (722.25) 16,163.00 4,725.25 29.2%6321800 Taxes-Employer Payroll 1,504.71 1,636.00 (131.29) 14,113.12 15,347.00 (1,233.88) 20,369.00 6,255.88 30.7%6321880 Wages-Hourly 12,645.26 13,141.00 (495.74) 110,227.70 118,269.00 (8,041.30) 157,692.00 47,464.30 30.1%6321882 Wages-Overtime 1,314.57 - 1,314.57 13,532.37 5,005.00 8,527.37 5,915.00 (7,617.37) -128.8%Total-CM-LM-SALARIES & BENEFITS17,455.34 17,195.00 260.34 158,194.44 160,717.00 (2,522.56) 213,387.00 50,828.06 23.8%632-CM-LM-SUPPLIES & MATERIALS6323778 Small Tools - 75.00 (75.00) 650.00 800.00 (150.00) 1,025.00 375.00 36.6%6323788 Uniforms 239.03 240.00 (0.97) 2,317.39 2,160.00 157.39 2,880.00 562.61 19.5%Total-CM-LM-SUPPLIES & MATERIALS239.03 315.00 (75.97) 2,967.39 2,960.00 7.39 3,905.00 937.61 24.0%632-CM-LM-REPAIRS & MAINTENANCE6325687 CM-LM-R&M-Drip Irrigation - 250.00 (250.00) 2,085.76 3,250.00 (1,164.24) 4,250.00 2,164.24 50.9%Total-CM-LM-REPAIRS & MAINTENANCE - 250.00 (250.00) 2,085.76 3,250.00 (1,164.24) 4,250.00 2,164.24 50.9%632-CM-WATER & ENERGY6337834 Utilities-Electricity-Pumping 5,405.74 8,500.00 (3,094.26) 49,223.78 76,500.00 (27,276.22) 102,000.00 52,776.22 51.7%6337842 Utilities-Water210.71 1,504.00 (1,293.29) 16,591.35 13,149.00 3,442.35 18,126.00 1,534.65 8.5%Total-CM-WATER & ENERGY5,616.45 10,004.00 (4,387.55) 65,815.13 89,649.00 (23,833.87) 120,126.00 54,310.87 45.2%132,552.27 129,254.00 3,298.27 1,407,917.57 1,388,009.00 19,908.57 1,796,366.00 384,083.93 21.4%Total -COURSE MAINTENANCEMonth to Date Year to DateSilverrock ResortCourse Maintenance Expense StatementMarch 2008Annual Budget5 MarchFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense641-CBR-SALARIES & BENEFITS6411175 Employee Meals 600.00 600.00 - 4,620.00 4,620.00 - 6,180.00 1,560.00 25.2%6411320 Insurance-Group 60.25 720.00 (659.75) 1,268.05 6,480.00 (5,211.95) 8,640.00 7,371.95 85.3%6411325 Insurance-Workers Comp 864.12 1,672.00 (807.88) 7,325.36 11,636.00 (4,310.64) 16,097.00 8,771.64 54.5%6411800 Taxes-Employer Payroll 1,640.95 1,449.00 191.95 9,641.66 10,086.00 (444.34) 13,956.00 4,314.34 30.9%6411880 Wages-Hourly 12,257.76 11,640.00 617.76 83,833.91 81,015.00 2,818.91 112,095.00 28,261.09 25.2%6411882 Wages-Overtime 86.81 - 86.81 1,173.21 - 1,173.21 - (1,173.21) 0.0%Total-CBR-SALARIES & BENEFITS15,509.89 16,081.00 (571.11) 107,862.19 113,837.00 (5,974.81) 156,968.00 49,105.81 31.3%641-CBR-SUPPLIES & MATERIALS6413732 Supplies-Carts 158.88 50.00 108.88 3,121.20 2,200.00 921.20 2,350.00 (771.20) -32.8%6413742 Supplies-Expendable 1,383.23 150.00 1,233.23 4,903.14 3,900.00 1,003.14 5,050.00 146.86 2.9%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) 144.08 375.00 (230.92) 525.00 380.92 72.6%6413768 Supplies-Printing and Stationary 39.41 70.00 (30.59) 1,200.41 210.00 990.41 420.00 (780.41) -185.8%6413786 Supplies-Towels - 72.00 (72.00) 1,332.43 2,076.00 (743.57) 2,292.00 959.57 41.9%6413796 Supplies-Bottled Water963.26 2,684.00 (1,720.74) 16,466.84 15,584.00 882.84 22,631.00 6,164.16 27.2%Total-CBR-SUPPLIES & MATERIALS2,544.78 3,076.00 (531.22) 34,693.02 30,345.00 4,348.02 39,268.00 4,574.98 11.7%641-CBR-REPAIRS & MAINTENANCE6415096 CBR-R&M-Contract Services-Carts 346.43 720.00 (373.57) 5,399.36 6,480.00 (1,080.64) 8,640.00 3,240.64 37.5%6415690 CBR-R&M-Equipment 1,136.79 125.00 1,011.79 4,145.77 1,125.00 3,020.77 1,500.00 (2,645.77) -176.4%6415695 CBR-R&M-Cart Maintenance & Repair 720.00 250.00 470.00 1,740.00 3,250.00 (1,510.00) 4,000.00 2,260.00 56.5%Total-CBR-REPAIRS & MAINTENANCE 2,203.22 1,095.00 1,108.22 11,285.13 10,855.00 430.13 14,140.00 2,854.87 20.2%641-CBR-OTHER EXPENSES6419093 Contract Services-Handicaps - 500.00 (500.00) 3,855.00 4,350.00 (495.00) 5,000.00 1,145.00 22.9%6419094 Contract Services-Laundry/Linen - 250.00 (250.00) 4,971.59 2,250.00 2,721.59 3,000.00 (1,971.59) -65.7%6419220 Freight/Delivery - 75.00 (75.00) 86.00 675.00 (589.00) 900.00 814.00 90.4%6419490 Miscellaneous - 125.00 (125.00) 107.34 775.00 (667.66) 1,150.00 1,042.66 90.7%6419820 Uniforms - 925.00 (925.00) 2,373.64 3,925.00 (1,551.36) 5,625.00 3,251.36 57.8%Total-CBR-OTHER EXPENSES - 1,875.00 (1,875.00) 11,393.57 11,975.00 (581.43) 15,675.00 4,281.43 27.3%TOTAL-CARTS,BAGROOM & RANGE 20,257.89 22,127.00 (1,869.11) 165,233.91 167,012.00 (1,778.09) 226,051.00 60,817.09 26.9%643-CS-SALARIES & BENEFITS6431175 Employee Meals 300.00 300.00 - 2,340.00 2,340.00 - 3,120.00 780.00 25.0%6431325 Insurance-Workers Comp 456.40 485.00 (28.60) 3,340.99 2,949.00 391.99 4,073.00 732.01 18.0%6431800 Taxes-Employer Payroll 837.90 604.00 233.90 5,209.75 3,670.00 1,539.75 5,071.00 (138.75) -2.7%6431880 Wages-Hourly 6,454.00 4,853.00 1,601.00 39,037.33 29,478.00 9,559.33 40,732.00 1,694.67 4.2%6431882 Wages-Overtime 66.00 - 66.00 243.61 - 243.61 - (243.61) 0.0%Total-CS-SALARIES & BENEFITS8,114.30 6,242.00 1,872.30 50,171.68 38,437.00 11,734.68 52,996.00 2,824.32 5.3%643-CS-OTHER EXPENSES6433742 Supplies Expendable - 100.00 (100.00) 2,718.11 800.00 1,918.11 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) - 450.00 (450.00) 600.00 600.00 100.0%6439820 Uniforms - 75.00 (75.00) 883.73 1,350.00 (466.27) 1,900.00 1,016.27 53.5%6439999 Capital Expense-Capex 1,213.00 1,213.00 - 10,917.00 10,917.00 - 14,556.00 3,639.00 25.0%Total-CS-OTHER EXPENSES 1,213.00 1,438.00 (225.00) 14,579.84 13,517.00 1,062.84 18,306.00 3,726.16 20.4%Total-COURSE SERVICES 9,327.30 7,680.00 1,647.30 64,751.52 51,954.00 12,797.52 71,302.00 6,550.48 9.2%TOTAL OUTSIDE SERVICES 29,585.19 29,807.00 (221.81) 229,985.43 218,966.00 11,019.43 297,353.00 63,641.41 21.4%Month to Date Year to DateSilverRock ResortOutside Services Expense StatementMarch 2008Annual Budget6 MarchFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense65-CH-SUPPLIES & MATERIALS6503742 Supplies-Expendable177.18 400.00 (222.82) 4,664.44 3,600.00 1,064.44 4,800.00 135.56 2.8%Total-CH-SUPPLIES & MATERIALS 177.18 400.00 (222.82) 4,664.44 3,600.00 1,064.44 4,800.00 135.56 2.8%65-CH-UTILITIES6507836 Utilities-Natural Gas5.08 300.00 (294.92) 3,357.18 2,700.00 657.18 3,600.00 242.82 6.7%6507838 Utilities-Sewer- 200.00 (200.00) - 1,800.00 (1,800.00) 2,400.00 2,400.00 100.0%6507840 Utilities-Telephone1,117.99 1,000.00 117.99 12,591.90 9,000.00 3,591.90 12,000.00 (591.90) -4.9%6507842 Utilities-Water125.21 200.00 (74.79) 1,434.53 1,800.00 (365.47) 2,400.00 965.47 40.2%6507844 Utilities-Cable124.95 317.00 (192.05) 3,374.80 2,853.00 521.80 3,800.00 425.20 11.2%Total-CH-UTILITIES 1,373.23 2,017.00 (643.77) 20,758.41 18,153.00 2,605.41 24,200.00 3,441.59 14.2%65-CH-OTHER EXPENSES6509091 Contract Services-Cleaning2,245.00 1,825.00 420.00 17,845.00 17,025.00 820.00 22,500.00 4,655.00 20.7%6509098 Contract Services-Refuse Dispose- 500.00 (500.00) 3,982.08 4,500.00 (517.92) 6,000.00 2,017.92 33.6%6509099 Contract Services-Security8,590.08 8,100.00 490.08 79,239.92 72,900.00 6,339.92 97,200.00 17,960.08 18.5%6509215 Flowers & Decorations- 100.00 (100.00) 1,319.08 2,300.00 (980.92) 2,600.00 1,280.92 49.3%6509490 Miscellaneous- 200.00 (200.00) 317.33 1,800.00 (1,482.67) 2,400.00 2,082.67 86.8%6509718 Safety Equipment & Training122.19 100.00 22.19 122.19 900.00 (777.81) 1,200.00 1,077.81 89.8%Total-CH-OTHER EXPENSES 10,957.27 10,825.00 132.27 102,825.60 99,425.00 3,400.60 131,900.00 29,074.40 22.0%65-CH-REPAIRS & MAINTENANCE6515685 CH-R&M-Building Structures264.00 200.00 64.00 3,567.62 1,800.00 1,767.62 2,400.00 (1,167.62) -48.7%6515686 CH-R&M-Restaurant Repairs325.50 400.00 (74.50) 2,481.42 3,600.00 (1,118.58) 4,800.00 2,318.58 48.3%6515690 CH-R&M-Equipment Repair962.64 400.00 562.64 2,823.49 3,600.00 (776.51) 4,800.00 1,976.51 41.2%Total-CH-REPAIRS & MAINTENANCE 1,552.14 1,000.00 552.14 8,872.53 9,000.00 (127.47) 12,000.00 3,127.47 26.1%Total CLUBHOUSE 14,059.82 14,242.00 (182.18) 137,120.98 130,178.00 6,942.98 172,900.00 6,254.94 3.6%Month to Date Year to DateSilverRock ResortClubhouse Expense StatementMarch 2008Annual Budget7 MarchFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense66-MKT-SUPPLIES & MATERIALS6603762 Supplies-Office - 100.00 (100.00) 664.46 900.00 (235.54) 1,200.00 535.54 44.6%6603768 Supplies-Printing & Stationery 461.89 125.00 336.89 3,858.68 4,050.00 (191.32) 4,425.00 566.32 12.8%461.89 225.00 236.89 4,523.14 4,950.00 (426.86) 5,625.00 1,101.86 19.6%66-MKT-UTILITIES6607840 Utilities-Telephone 529.00 100.00 429.00 1,015.08 900.00 115.08 1,200.00 184.92 15.4%Total-MKT-UTILITIES 529.00 100.00 429.00 1,015.08 900.00 115.08 1,200.00 184.92 15.4%66-MKT-OTHER EXPENSES6609010 Advertising 19,878.86 24,052.00 (4,173.14) 186,612.62 179,328.00 7,284.62 221,834.00 35,221.38 15.9%6609040 Business Meals - 25.00 (25.00) 49.67 225.00 (175.33) 300.00 250.33 83.4%6609080 Collateral Material - 500.00 (500.00) 3,507.19 7,000.00 (3,492.81) 9,000.00 5,492.81 61.0%6609102 Contract Services-Web Page 99.00 175.00 (76.00) 1,402.69 1,575.00 (172.31) 2,100.00 697.31 33.2%6609490 Miscellaneous - 50.00 (50.00) - 250.00 (250.00) 350.00 350.00 100.0%6609620 Postage - 50.00 (50.00) 222.75 450.00 (227.25) 600.00 377.25 62.9%6609630 Promotion - - - 51.70 6,500.00 (6,448.30) 6,500.00 6,448.30 0.0%6609633 Promotion-Community - 75.00 (75.00) - 2,700.00 (2,700.00) 2,925.00 2,925.00 100.0%6609634 Promotion-Media/Vender - 50.00 (50.00) - 550.00 (550.00) 700.00 - 0.0%6609150 Dues and Subscriptions - 300.00 (300.00) 1,015.00 735.00 280.00 735.00 (280.00) -38.1%6609820 Uniforms - 50.00 (50.00) 268.90 550.00 (281.10) 600.00 331.10 55.2%Total-MKT-OTHER EXPENSES 19,977.86 25,327.00 (5,349.14) 193,130.52 199,863.00 (6,732.48) 245,644.00 51,813.48 21.1%Total-MARKETING 20,968.75 25,652.00 (4,683.25) 198,668.74 205,713.00 (7,044.26) 252,469.00 53,100.26 21.0%Month to Date Year to DateSilverRock ResortMarketing Expense StatementMarch 2008Annual Budget8 MarchFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense67-G&A-SALARIES & BENEFITS6701175 Employee Meals 180.00 180.00 - 1,620.00 1,620.00 - 2,160.00 540.00 25.0%6701320 Insurance-Group1,366.85 1,980.00 (613.15) 15,063.30 17,820.00 (2,756.70) 23,760.00 8,696.70 36.6%6701325 Insurance-Workers Comp1,094.96 1,673.00 (578.04) 12,804.16 15,057.00 (2,252.84) 20,076.00 7,271.84 36.2%6701720 Salaries 13,503.32 14,000.00 (496.68) 120,426.19 126,000.00 (5,573.81) 168,000.00 47,573.81 28.3%6701800 Taxes-Employer Payroll 1,328.73 2,083.00 (754.27) 11,930.79 18,747.00 (6,816.21) 24,994.00 13,063.21 52.3%6701880 Wages-Hourly1,975.74 2,730.00 (754.26) 24,926.86 24,570.00 356.86 32,756.00 7,829.14 23.9%6701882 Wages-Overtime 163.13 - 163.13 275.63 - 275.63 - (275.63) 0.0%Total-G&A-SALARIES & BENEFITS 19,612.73 22,646.00 (3,033.27) 187,046.93 203,814.00 (16,767.07) 271,746.00 84,699.07 31.2%67-G&A-SUPPLIES & MATERIALS6703740 Supplies-Computer383.30 500.00 (116.70) 6,990.62 4,500.00 2,490.62 6,000.00 (990.62) -16.5%6703762 Supplies-Office - 125.00 (125.00) 899.55 1,125.00 (225.45) 1,500.00 600.45 40.0%6703768 Supplies-Printing & Stationery- 400.00 (400.00) 694.30 2,000.00 (1,305.70) 3,200.00 2,505.70 78.3%6703778Supplies-Small Tools/Non-Capital - 100.00 (100.00) 395.00 700.00 (305.00) 900.00 505.00 56.1%Total-G&A-SUPPLIES & MATERIALS 383.30 1,125.00 (741.70) 8,979.47 8,325.00 654.47 11,600.00 2,620.53 22.6%67-G&A-REPAIRS & MAINTENANCE6705690 Repairs & Maintenance-Equipment- 100.00 (100.00) 1,522.97 900.00 622.97 1,200.00 (322.97) -26.9%Total-G&A-REPAIRS & MAINTENANCE - 100.00 (100.00) 1,522.97 900.00 622.97 1,200.00 (322.97) -26.9%67-G&A-OTHER EXPENSES6709020 Auto/Mileage Allowance400.00 400.00 - 3,600.00 3,600.00 - 4,800.00 1,200.00 25.0%6709090 Contract Services85.00 - 85.00 1,804.65 - 1,804.65 - - 0.0%6709150 Dues & Subscriptions- 50.00 (50.00) 270.00 900.00 (630.00) 1,500.00 1,230.00 82.0%6709180 Employee Recruiting/Relocation112.00 200.00 (88.00) 2,516.72 4,600.00 (2,083.28) 4,600.00 2,083.28 45.3%6709197 Equipment Rental1,688.33 350.00 1,338.33 4,995.89 3,150.00 1,845.89 4,200.00 (795.89) -18.9%6709202 Fees-Bank41.43 300.00 (258.57) 402.99 2,700.00 (2,297.01) 3,600.00 3,197.01 88.8%6709204 Fees-Bank- - - 37.63 - 37.63 - (37.63) 0.0%6709208 Fees-Payroll Processing887.70 550.00 337.70 6,617.98 4,950.00 1,667.98 6,600.00 (17.98) -0.3%6709220 Freight/Delivery- 50.00 (50.00) 301.51 450.00 (148.49) 600.00 298.49 49.7%6709490 Miscellaneous 25.48 100.00 (74.52) 270.69 900.00 (629.31) 1,200.00 929.31 77.4%6709620 Postage/Mail Services 201.64 75.00 126.64 1,039.03 675.00 364.03 900.00 (139.03) -15.4%6709625 Professional Fees150.00 400.00 (250.00) 1,411.28 3,600.00 (2,188.72) 4,800.00 3,388.72 70.6%6709636 Promotion/Entertainment- 100.00 (100.00) 3,600.00 900.00 2,700.00 1,200.00 (2,400.00) -200.0%6709722 Seminars & Training- - - 1,271.34 500.00 771.34 900.00 (371.34) -41.3%6709810 Travel - - - - 200.00 (200.00) 1,100.00 1,100.00 100.0%6709820 Uniforms - 75.00 (75.00) 548.04 825.00 (276.96) 1,050.00 501.96 47.8%Total-G&A-OTHER EXPENSES 3,591.58 2,650.00 941.58 28,687.75 27,950.00 737.75 37,050.00 10,166.90 27.4%Total-GENERAL & ADMINISTRATIVE23,587.61 26,521.00 (2,933.39) 226,237.12 240,989.00 (14,751.88) 321,596.00 97,163.53 30.2%Month to Date Year to DateSilverRock ResortGeneral & Administrative Expense StatementMarch 2008Annual Budget9 MarchFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense68-LEASES6800192 Equipment Leases-Carts 11,581.04 9,800.00 1,781.04 90,701.17 88,200.00 2,501.17 117,600.00 26,898.83 22.9%6800193 Equipment Leases-Course Maint 16,244.12 20,000.00 (3,755.88) 159,731.21 180,000.00 (20,268.79) 240,000.00 80,268.79 33.4%6800194 Equipment Leases-Trailer 536.16 600.00 (63.84) 5,955.92 5,400.00 555.92 7,200.00 1,244.08 17.3%6800195 Equipment Leases-Software 1,372.93 1,525.00 (152.07) 17,326.30 13,725.00 3,601.30 18,300.00 973.70 5.3%6800196 Equipment Leases-GPS 6,840.14 7,400.00 (559.86) 61,561.26 66,600.00 (5,038.74) 88,800.00 27,238.74 30.7%6800198 Equipment Leases-Others 2,262.85 - 2,262.85 21,532.11 - 21,532.11 - - 0.0%Total-LEASES 38,837.24 39,325.00 (487.76) 356,807.97 353,925.00 2,882.97 471,900.00 136,624.14 29.0%69-MISC OTHER EXPENSES6900096 Contract Srvcs-Management Fee (9,564.69) (9,900.00) 335.31 74,998.89 84,380.00 (9,381.11) 111,277.00 36,278.11 32.6%6900210 FF&E Reserve 12,363.20 12,821.00 (457.80) 44,339.74 51,989.00 (7,649.26) 71,686.00 27,346.26 38.1%6900800 Personal Property Taxes - - - 18,249.05 20,000.00 (1,750.95) 20,000.00 1,750.95 8.8%6900323 Insurance-Commercial 4,504.00 4,200.00 304.00 18,368.38 37,800.00 (19,431.62) 50,400.00 32,031.62 63.6%Total-MISC OTHER EXPENSES7,302.51 7,121.00 181.51 155,956.06 194,169.00 (38,212.94) 253,363.00 97,406.94 38.4%Annual BudgetMonth to Date Year to Date Operating Leases & Miscellaneous Other Expense StatementMarch 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 CategoryJanuaryFebruaryMarchAprilMayJuneMedia2157Sales32PromotionGolf Industry11 3726VIPCelebrityPGA Comp60 6563Charity/Gift Certificate11 4Rain/Wind Checks4425Club Staff59 3210LQ HS Golf85 131147 245 264 0 0 011 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report‐2007‐2008March 2008Date Time Description CategoryPlayers3/3/2008 9:15 Andrew Tanner - The Desert Sun Media 33/22/2008 12:45 Kris Long - CBS 2 Media 412