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11 May 2008 SilverRock Resort - Monthly Financial Statement Monthly Financial Statements July 2007 – May 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 MayFinal Budget Variance Percentages Unfavorable (-) Favorable (+) Final Budget Variance Annual Budget Unemcumb. % Bdgt Income400000 Golf Green Fee Revenue 300,904.25 268,254.00 32,650.25 12.2% 3,129,943.30 2,990,179.00 139,764.30 3,161,211.00 31,267.70 99%401000 Miscellaneous Golf Revenue 7,484.00 4,938.00 2,546.00 51.6% 132,042.64 80,601.00 51,441.64 83,725.00 (48,317.64) 158%410000 Revenue-Golf Shop 35,262.10 27,651.00 7,611.10 27.5% 344,420.30 309,873.00 34,547.30 327,370.00 (17,050.30) 105%420000 Revenue-F&B Concession 500.00 500.00 - 0.0% 11,500.00 11,500.00 - 12,000.00 500.00 96%890000 Interest Income 10.13 - 10.13 0.0% 208.28 - 208.28 - (208.28) 0%Total Income344,160.48 301,343.00 42,817.48 14.2% 3,618,114.52 3,392,153.00 225,961.52 3,584,306.00 (33,808.52) 101%Cost of Goods Sold510000 COS-Golf Shop 20,013.04 14,676.05 5,336.99 -36.4% 191,175.94 164,464.15 (26,711.79) 173,752.00 (17,423.94) 110%Total COS20,013.04 14,676.05 5,336.99 -36.4% 191,175.94 164,464.15 (26,711.79) 173,752.00 (17,423.94) 110%Gross Profit324,147.44 286,666.95 37,480.49 13.1% 3,426,938.58 3,227,688.85 199,249.73 3,410,554.00 (16,384.58) 100%Expenses610000 Golf Pro Shop 28,412.16 26,180.00 (2,232.16) -8.5% 246,839.07 235,275.00 (11,564.07) 256,699.00 9,859.93 96%630000 Course Maintenance 144,454.06 135,013.00 (9,441.06) -7.0% 1,694,720.50 1,654,081.00 (40,639.50) 1,796,367.00 101,646.50 94%640000 Outside Services 27,896.16 25,613.00 (2,283.16) -8.9% 290,538.36 273,361.00 (17,177.36) 297,353.00 6,814.64 98%650000 Clubhouse 17,394.44 14,242.00 (3,152.44) -22.1% 171,496.84 158,662.00 (12,834.84) 172,900.00 1,403.16 99%660000 Marketing 13,031.36 13,152.00 120.64 0.9% 230,996.96 241,567.00 10,570.04 252,469.00 21,472.04 91%670000 General & Administrative 26,267.72 27,471.00 1,203.28 4.4% 276,806.32 295,081.00 18,274.68 321,596.00 44,789.68 86%680000 Leases 40,075.99 39,325.00 (750.99) -1.9% 437,309.22 432,575.00 (4,734.22) 471,900.00 34,590.78 93%690000 Miscellaneous Other Expense 11,305.34 23,583.00 12,277.66 52.1% 177,700.46 225,476.00 47,775.54 253,363.00 75,662.54 70%Total Expenses308,837.23 304,579.00 (4,258.23) -1.4% 3,526,407.73 3,516,078.00 (10,329.73) 3,822,647.00 296,239.27 92%Net Income 15,310.21 (17,912.05) 33,222.26 185.5%(99,469.15) (288,389.15) 188,920.00 (412,093.00) (312,623.85) 24%Rounds of Golf PlayedPaid Rounds Played 4,539 3,951 588 14.9% 38,336 38,081 255 40,580 2,244 94%Ave $ Per Paid Round Green Fee 66.29 67.90 (1.60) -2.4% 81.65 78.52 3.12 77.90 (3.75) 105%Ave $ Per Paid Round Merchandise 7.77 7.00 0.77 11.0% 8.98 8.14 0.85 8.07 (0.91) 111%Ave $ Per Paid Miscellaneous 1.65 1.25 0.40 31.9% 3.44 2.12 1.33 2.06 - 0%Month to Date Year to DateMay 2008SilverRock ResortSummary Operating Income Statement1 Income MayFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4000000 Revenue-Fees 300,904.25 268,254.00 32,650.25 3,129,943.30 2,990,179.00 139,764.30 3,161,211.0031,267.7099%4010000 Rider Fee 550.00 395.00 155.00 5,925.00 3,808.00 2,117.00 4,058.00-1,867.00146%4040000 Club Rental 2,395.00 1,383.00 1,012.00 26,185.00 13,329.00 12,856.00 14,203.00-11,982.00184%4050000 Driving Range 4,204.00 3,160.00 1,044.00 55,950.00 30,464.00 25,486.00 32,464.00-23,486.00172%4060000 Handicap Fees 335.00 - 335.00 7,410.00 8,000.00 (590.00) 8,000.00 590.0093%4080000 GPS Advertising - - - 22,055.00 12,000.00 10,055.00 12,000.00 -10,055.00184%4090000 Ball Retriever/Subcontract - - - 3,267.64 4,000.00 (732.36) 4,000.00 732.3682%4091000 Golf Professional Rental Fee - - - 11,250.00 9,000.00 2,250.00 9,000.00 - 0% Total Revenue Fees 308,388.25 273,192.00 35,196.25 3,261,985.94 3,070,780.00 191,205.94 3,244,936.00 (14,799.94) 100%Total Income 308,388.25 273,192.00 35,196.25 3,261,985.94 3,070,780.00 191,205.94 3,244,936.00 (14,799.94) 100%SilverRock ResortStatement of Fees RevenueMay 2008Month to Date Year to Date Annual Budget2 Income MayFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4100000 Sales Miscellaneous 347.92 - 347.92 5,761.21 - 5,761.21 4100110 Sales Hard Goods 16,324.18 9,678.00 6,646.18 118,773.75 108,456.00 10,317.75 114,580.00 (4,193.75) 104%4100112 Sales-Soft Goods 21,093.08 17,973.00 3,120.08 255,141.40 201,417.00 53,724.40 212,791.00 (42,350.40) 120%5100639 GS-Discounts-Mdse (2,503.08) - (2,503.08) (35,256.06) - (35,256.06) - 35,256.06 0% Total Revenue Golf Shop 35,262.10 27,651.00 7,611.10 344,420.30 309,873.00 34,547.30 327,371.00 (11,288.09) 103%COS 5100150 COS-GS-Hard Goods 11,257.96 5,322.90 5,935.06 75,715.80 59,650.80 16,065.00 63,019.00 (12,696.80) 120%5100151 COS-GS-Soft Goods 8,755.08 9,885.15 (1,130.07) 115,466.14 110,779.35 4,686.79 117,035.05 1,568.91 99%5100152 COS-GS-Purchase Disc - (760.00) 760.00 (6.00) (8,523.00) 8,517.00 (9,003.00) (8,997.00) 0%5100220 COS-GS-Freight Merch - 228.00 (228.00) - 2,557.00 (2,557.00) 2,701.00 2,701.00 0%Cost of Sales - Golf Shop 20,013.04 14,676.05 5,336.99 191,175.94 164,464.15 26,711.79 173,752.05 (17,423.89) 110%Gross Profit 15,249.06 12,974.95 2,274.11 153,244.36 145,408.85 7,835.51 153,618.95 6,135.80 96%COS % 56.8% 53.1% -3.7% 55.5% 53.1% -2.4% 53.1% 154.4% -191%Expense61-PS-SALARIES & BENEFITS6101175 Employee Meals 420.00 420.00 - 4,320.00 4,320.00 - 4,680.00 360.00 92%6101320 Insurance Group 3,306.45 3,360.00 (53.55) 33,607.21 32,280.00 1,327.21 35,640.00 2,032.79 94%6101325 Insurance-Workers Comp 1,211.28 1,498.00 (286.72) 13,690.89 14,869.00 (1,178.11) 16,247.00 2,556.11 84%6101720 Salaries 5,872.66 3,499.00 2,373.66 60,071.98 38,489.00 21,582.98 72,000.00 11,928.02 83%6101800 Taxes-Employer Payroll 1,782.83 1,865.00 (82.17) 16,230.52 18,513.00 (2,282.48) 20,228.00 3,997.48 80%6101880 Wages-Hourly 11,100.50 11,478.00 (377.50) 93,486.17 110,194.00 (16,707.83) 90,474.00 (3,012.17) 103%6101882 Wages-Overtime 234.57 - 234.57 2,992.99 - 2,992.99 - 952.88 0%Total -PS-SALARIES & BENEFITS 23,928.29 22,120.00 1,808.29 224,399.76 218,665.00 5,734.76 239,269.00 18,815.11 92%61-PS OTHER EXPENSES6103742 Supplies-Expendable 48.48 - 48.48 48.48 - 48.48 - (48.48) 0%6103762 Supplies-Office 24.86 45.00 (20.14) 2,593.39 1,480.00 1,113.39 1,525.00 (1,068.39) 170%6109090 Contract Services 500.00 500.00 - 5,500.00 5,500.00 - 6,000.00 500.00 92%6109220 Freight & Delivery 15.45 - 15.45 1,424.17 - 1,424.17 75.00 (1,349.17) 1899%6109490 Miscellaneous 291.86 50.00 241.86 761.04 400.00 361.04 450.00 (311.04) 169%6109150 Dues and Subscriptions 1,473.45 2,000.00 (526.55) 1,797.64 2,000.00 (202.36) 2,000.00 202.36 90%6109500 ProShop-Over/Short 167.04 - 167.04 126.92 - 126.92 (126.92) 0%6109722 Seminars/Training 1,750.00 1,250.00 500.00 4,699.00 5,455.00 (756.00) 5,490.00 791.00 86%6109810 Travel - Merchandise - 15.00 (15.00) - 75.00 (75.00) 90.00 90.00 0%6109820 Uniforms 77.05 200.00 (122.95) 3,621.03 1,700.00 1,921.03 1,800.00 (1,821.03) 201%6117840 Telephones 135.68 - 135.68 1,867.64 - 1,867.64 - (1,867.64) 0%Total PS-OTHER EXPENSES 4,483.87 4,060.00 423.87 22,439.31 16,610.00 5,829.31 17,430.00 (5,009.31) 129%Total Expenses28,412.16 26,180.00 2,232.16 246,839.07 235,275.00 11,564.07 256,699.00 13,805.80 95%Net Income(13,163.10) (13,205.05) 41.95 (93,594.71) (89,866.15) (3,728.56) (103,080.05) (7,670.00) -93%Month to Date Year to Date Annual BudgetSilverRock ResortGolf Shop Income StatementMay 20083 MayFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense63-CM-SALARIES & BENEFITS6311175 Employee Meals 240.00 240.00 - 2,640.00 2,640.00 - 2,880.00 240.00 8.3%6311320 Insurance-Group 14,550.46 8,850.00 5,700.46 149,509.52 97,350.00 52,159.52 106,200.00 (43,309.52) -40.8%6311325 Insurance-Workers Comp 4,212.03 5,811.00 (1,598.97) 55,306.26 66,151.00 (10,844.74) 72,453.00 17,146.74 23.7%6311720 Salaries 11,038.48 12,333.00 (1,294.52) 121,423.28 135,647.00 (14,223.72) 148,000.00 26,576.72 18.0%6311800 Taxes-Employer Payroll 6,575.49 7,235.00 (659.51) 59,669.75 82,904.00 (23,234.25) 90,868.00 31,198.25 34.3%6311880 Wages-Hourly 47,449.88 45,780.00 1,669.88 471,785.34 503,516.00 (31,730.66) 565,951.00 94,165.66 16.6%6311882 Wages-Overtime 162.01 - 162.01 31,460.06 26,664.00 4,796.06 15,916.00 (15,544.06) -97.7%Total-CM-SALARIES & BENEFITS84,228.35 80,249.00 3,979.35 891,794.21 914,872.00 (23,077.79) 1,002,268.00 110,473.79 11.0%63-CM-SUPPLIES & MATERIALS6313734 Chemicals 7,151.26 900.00 6,251.26 38,463.39 21,900.00 16,563.39 23,900.00 (14,563.39) -60.9%6313744 Fertilizer 4,915.34 5,000.00 (84.66) 92,649.28 64,100.00 28,549.28 68,950.00 (23,699.28) -34.4%6313746 Flowers/Plants - - - 5,020.71 3,500.00 1,520.71 3,500.00 (1,520.71) -43.4%6313748 Fuel-Gasoline 4,553.52 2,600.00 1,953.52 46,882.80 38,800.00 8,082.80 41,400.00 (5,482.80) -13.2%6313750 Golf Course Accessories 496.95 100.00 396.95 11,134.78 4,100.00 7,034.78 4,200.00 (6,934.78) -165.1%6313756 POA Control 178.63 - 178.63 6,985.11 6,000.00 985.11 6,000.00 (985.11) -16.4%6313758 Miscellaneous Supp 386.40 - 386.40 5,319.25 - 5,319.25 (5,319.25) 0.0%6313766 Pesticides 16.00 - 16.00 673.80 - 673.80 - (673.80) 0.0%6313762 Supplies-Office 34.48 100.00 (65.52) 2,049.88 1,100.00 949.88 1,200.00 (849.88) -70.8%6313774 Sand - 100.00 (100.00) 2,781.08 6,560.00 (3,778.92) 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 93,400.00 (1,818.52) 93,750.00 2,168.52 2.3%6313778 Small Tools & Non-Capital Equip - 100.00 (100.00) 7,879.51 6,400.00 1,479.51 6,500.00 (1,379.51) -21.2%6313780 Sod - 500.00 (500.00) 3,789.41 4,750.00 (960.59) 5,750.00 1,960.59 34.1%6313782 Topdressing - 1,300.00 (1,300.00) 7,101.97 2,600.00 4,501.97 3,900.00 (3,201.97) -82.1%Total-CM-SUPPLIES & MATERIALS17,732.58 11,050.00 6,682.58 322,312.45 258,210.00 64,102.45 270,710.00 (51,602.45) -19.1%63-CM-REPAIRS & MAINTENANCE6315095 CM-R&M-Contract Lake Maint 1,714.61 1,500.00 214.61 11,246.11 12,500.00 (1,253.89) 14,000.00 2,753.89 19.7%6315685 CM-R&M-Bldngs & Othr Structures 196.00 - 196.00 1,577.41 500.00 1,077.41 500.00 (1,077.41) -215.5%6315690 CM-R&M-Equipment 2,789.18 1,400.00 1,389.18 42,445.95 27,400.00 15,045.95 28,800.00 (13,645.95) -47.4%6315692 CM-R&M-Irrigation System 1,155.56 1,000.00 155.56 14,084.84 14,450.00 (365.16) 15,450.00 1,365.16 8.8%6315696 CM-R&M-Pumps 565.66 1,000.00 (434.34) 30,142.88 5,000.00 25,142.88 5,000.00 (25,142.88) -502.9%6315815 CM-R&M-Trees-Pruning Etc - - - 4,605.00 4,000.00 605.00 4,000.00 (605.00) -15.1%Total-CM-REPAIRS & MAINTENANCE 7,072.65 4,900.00 2,172.65 104,753.83 63,850.00 40,903.83 67,750.00 (37,003.83) -54.6%63-CM-UTILTIES6317830 Utilities-Electricity-Bldngs - 2,175.00 (2,175.00) - 19,720.00 (19,720.00) 22,080.00 22,080.00 100.0%6317836 Utilities-Natural Gas/LPG - - - 174.49 - 174.49 (174.49) 0.0%6317840 Telephones 734.34 600.00 134.34 8,875.82 6,600.00 2,275.82 7,200.00 (1,675.82) -23.3%Total-CM-UTILITIES 734.34 2,775.00 (2,040.66) 9,050.31 26,320.00 (17,269.69) 29,280.00 20,229.69 69.1%63-CM-OTHER EXPENSES6319020 Auto Mileage/Allowance 500.00 500.00 - 5,500.00 5,500.00 - 6,000.00 500.00 8.3%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) 4,000.00 4,000.00 100.0%6319101 Contract Svcs-Trash Removal (5,931.13) 600.00 (6,531.13) 6,087.75 6,600.00 (512.25) 7,200.00 1,112.25 15.4%6319150 Dues & Subscriptions - - - 18.00 800.00 (782.00) 900.00 882.00 98.0%6319170 Employee Education - 50.00 (50.00) 575.00 550.00 25.00 600.00 25.00 4.2%6319197 Equipment Rental 3,382.28 200.00 3,182.28 6,173.18 4,100.00 2,073.18 4,200.00 (1,973.18) -47.0%6319206 Licenses & Permits 1,897.00 - 1,897.00 1,897.00 1,600.00 297.00 1,600.00 (297.00) -18.6%6319490 Miscellaneous 16.59 100.00 (83.41) 4,597.95 1,100.00 3,497.95 1,200.00 (3,397.95) -283.2%6319500 Propane/Natural Gas - 150.00 (150.00) - 1,650.00 (1,650.00) 1,800.00 1,800.00 100.0%6319718 Safety Equipment & Training 3,039.47 100.00 2,939.47 6,485.31 3,300.00 3,185.31 3,400.00 (3,085.31) -90.7%6319822 Uniforms 796.07 720.00 76.07 9,966.41 8,670.00 1,296.41 9,390.00 (576.41) -6.1%6319999 Capital Expense-Capex 3,700.00 3,700.00 - 40,700.00 40,700.00 - 44,400.00 3,700.00 8.3%Total-CM-OTHER EXPENSES 7,400.28 8,120.00 (719.72) 82,867.79 78,570.00 4,297.79 84,690.00 1,822.21 2.2%Month to Date Year to DateSilverRock ResortCourse Maintenance Expense StatementMay 2008Annual Budget4 MayFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget632-CM-LANDSCAPE MAINTENANCE632-CM-LM-SALARIES & BENEFITS6321320 Insurance-Group 1,104.00 1,104.00 - 11,091.50 12,144.00 (1,052.50) 13,248.00 2,156.50 16.3%6321325 Insurance-Workers Comp 1,065.94 1,314.00 (248.06) 13,517.83 14,788.00 (1,270.17) 16,163.00 2,645.17 16.4%6321800 Taxes-Employer Payroll 1,615.53 1,636.00 (20.47) 17,212.52 18,619.00 (1,406.48) 20,369.00 3,156.48 15.5%6321880 Wages-Hourly 13,106.88 13,141.00 (34.12) 134,710.21 144,551.00 (9,840.79) 157,692.00 22,981.79 14.6%6321882 Wages-Overtime 67.71 - 67.71 13,609.84 5,005.00 8,604.84 5,915.00 (7,694.84) -130.1%Total-CM-LM-SALARIES & BENEFITS16,960.06 17,195.00 (234.94) 190,141.90 195,107.00 (4,965.10) 213,387.00 21,088.60 9.9%632-CM-LM-SUPPLIES & MATERIALS6323778 Small Tools - 75.00 (75.00) 778.83 950.00 (171.17) 1,025.00 246.17 24.0%6323788 Uniforms 265.36 240.00 25.36 2,926.68 2,640.00 286.68 2,880.00 (46.68) -1.6%Total-CM-LM-SUPPLIES & MATERIALS265.36 315.00 (49.64) 3,705.51 3,590.00 115.51 3,905.00 199.49 5.1%632-CM-LM-REPAIRS & MAINTENANCE6325687 CM-LM-R&M-Drip Irrigation 262.87 250.00 12.87 2,557.96 3,750.00 (1,192.04) 4,250.00 1,692.04 39.8%Total-CM-LM-REPAIRS & MAINTENANCE 262.87 250.00 12.87 2,557.96 3,750.00 (1,192.04) 4,250.00 1,692.04 39.8%632-CM-WATER & ENERGY6337834 Utilities-Electricity-Pumping 6,550.02 8,500.00 (1,949.98) 62,272.14 93,500.00 (31,227.86) 102,000.00 39,727.86 38.9%6337842 Utilities-Water3,247.55 1,659.00 1,588.55 25,264.40 16,312.00 8,952.40 18,126.00 (7,138.40) -39.4%Total-CM-WATER & ENERGY9,797.57 10,159.00 (361.43) 87,536.54 109,812.00 (22,275.46) 120,126.00 32,589.46 27.1%144,454.06 135,013.00 9,441.06 1,694,720.50 1,654,081.00 40,639.50 1,796,366.00 99,489.00 5.5%Silverrock ResortCourse Maintenance Expense StatementMay 2008Annual BudgetTotal -COURSE MAINTENANCEMonth to Date Year to Date5 MayFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense641-CBR-SALARIES & BENEFITS6411175 Employee Meals 480.00 480.00 - 5,700.00 5,700.00 - 6,180.00 480.00 7.8%6411320 Insurance-Group 51.15 720.00 (668.85) 1,379.45 7,920.00 (6,540.55) 8,640.00 7,260.55 84.0%6411325 Insurance-Workers Comp 912.16 1,396.00 (483.84) 9,197.62 14,704.00 (5,506.38) 16,097.00 6,899.38 42.9%6411800 Taxes-Employer Payroll 1,552.14 1,210.00 342.14 12,848.05 12,745.00 103.05 13,956.00 1,107.95 7.9%6411880 Wages-Hourly 11,333.89 9,720.00 1,613.89 107,120.06 102,375.00 4,745.06 112,095.00 4,974.94 4.4%6411882 Wages-Overtime 68.07 - 68.07 1,290.22 - 1,290.22 - (1,290.22) 0.0%Total-CBR-SALARIES & BENEFITS14,397.41 13,526.00 871.41 137,535.40 143,444.00 (5,908.60) 156,968.00 19,432.60 12.4%641-CBR-SUPPLIES & MATERIALS6413732 Supplies-Carts 289.46 50.00 239.46 3,522.72 2,300.00 1,222.72 2,350.00 (1,172.72) -49.9%6413742 Supplies-Expendable 489.83 500.00 (10.17) 5,790.49 4,550.00 1,240.49 5,050.00 (740.49) -14.7%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) 144.08 475.00 (330.92) 525.00 380.92 72.6%6413768 Supplies-Printing and Stationary - 70.00 (70.00) 1,200.41 350.00 850.41 420.00 (780.41) -185.8%6413786 Supplies-Towels 294.74 72.00 222.74 1,627.17 2,220.00 (592.83) 2,292.00 664.83 29.0%6413796 Supplies-Bottled Water2,307.80 2,529.00 (221.20) 22,659.87 20,622.00 2,037.87 22,631.00 (28.87) -0.1%Total-CBR-SUPPLIES & MATERIALS3,381.83 3,271.00 110.83 42,469.66 36,517.00 5,952.66 39,268.00 (3,201.66) -8.2%641-CBR-REPAIRS & MAINTENANCE6415096 CBR-R&M-Contract Services-Carts 1,005.88 720.00 285.88 7,125.24 7,920.00 (794.76) 8,640.00 1,514.76 17.5%6415690 CBR-R&M-Equipment 14.30 125.00 (110.70) 4,160.07 1,375.00 2,785.07 1,500.00 (2,660.07) -177.3%6415695 CBR-R&M-Cart Maintenance & Repair 1,159.26 250.00 909.26 4,426.37 3,750.00 676.37 4,000.00 (426.37) -10.7%Total-CBR-REPAIRS & MAINTENANCE 2,179.44 1,095.00 1,084.44 15,711.68 13,045.00 2,666.68 14,140.00 (1,571.68) -11.1%641-CBR-OTHER EXPENSES6419093 Contract Services-Handicaps - 200.00 (200.00) 3,955.00 4,800.00 (845.00) 5,000.00 1,045.00 20.9%6419094 Contract Services-Laundry/Linen - 250.00 (250.00) 4,971.59 2,750.00 2,221.59 3,000.00 (1,971.59) -65.7%6419220 Freight/Delivery - 75.00 (75.00) 86.00 825.00 (739.00) 900.00 814.00 90.4%6419490 Miscellaneous 189.00 125.00 64.00 996.52 1,025.00 (28.48) 1,150.00 153.48 13.3%6419820 Uniforms - 1,500.00 (1,500.00) 2,698.84 5,425.00 (2,726.16) 5,625.00 2,926.16 52.0%Total-CBR-OTHER EXPENSES 189.00 2,150.00 (1,961.00) 12,707.95 14,825.00 (2,117.05) 15,675.00 2,967.05 18.9%TOTAL-CARTS,BAGROOM & RANGE 20,147.68 20,042.00 105.68 208,424.69 207,831.00 593.69 226,051.00 17,626.31 7.8%643-CS-SALARIES & BENEFITS6431175 Employee Meals 240.00 240.00 - 2,880.00 2,880.00 - 3,120.00 240.00 7.7%6431325 Insurance-Workers Comp 497.04 320.00 177.04 4,374.27 3,754.00 620.27 4,073.00 (301.27) -7.4%6431800 Taxes-Employer Payroll 798.44 398.00 400.44 6,869.62 4,672.00 2,197.62 5,071.00 (1,798.62) -35.5%6431880 Wages-Hourly 6,156.00 3,200.00 2,956.00 51,821.33 37,531.00 14,290.33 40,732.00 (11,089.33) -27.2%6431882 Wages-Overtime 57.00 - 57.00 375.61 - 375.61 - (375.61) 0.0%Total-CS-SALARIES & BENEFITS7,748.48 4,158.00 3,590.48 66,320.83 48,837.00 17,483.83 52,996.00 (13,324.83) -25.1%643-CS-OTHER EXPENSES6433742 Supplies Expendable - 75.00 (75.00) 2,718.11 975.00 1,743.11 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) - 550.00 (550.00) 600.00 600.00 100.0%6439820 Uniforms - 75.00 (75.00) 883.73 1,825.00 (941.27) 1,900.00 1,016.27 53.5%6439999 Capital Expense-Capex - 1,213.00 (1,213.00) 12,130.00 13,343.00 (1,213.00) 14,556.00 2,426.00 16.7%Total-CS-OTHER EXPENSES - 1,413.00 (1,413.00) 15,792.84 16,693.00 (900.16) 18,306.00 2,513.16 13.7%Total-COURSE SERVICES 7,748.48 5,571.00 2,177.48 82,113.67 65,530.00 16,583.67 71,302.00 (10,811.67) -15.2%TOTAL OUTSIDE SERVICES 27,896.16 25,613.00 2,283.16 290,538.36 273,361.00 17,177.36 297,353.00 4,301.48 1.4%Month to Date Year to DateSilverRock ResortOutside Services Expense StatementMay 2008Annual Budget6 MayFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense65-CH-SUPPLIES & MATERIALS6503742 Supplies-Expendable228.75 400.00 (171.25) 4,998.10 4,400.00 598.10 4,800.00 (198.10) -4.1%Total-CH-SUPPLIES & MATERIALS 228.75 400.00 (171.25) 4,998.10 4,400.00 598.10 4,800.00 (198.10) -4.1%65-CH-UTILITIES6507836 Utilities-Natural Gas619.22 300.00 319.22 5,404.06 3,300.00 2,104.06 3,600.00 (1,804.06) -50.1%6507838 Utilities-Sewer- 200.00 (200.00) - 2,200.00 (2,200.00) 2,400.00 2,400.00 100.0%6507840 Utilities-Telephone1,082.76 1,000.00 82.76 14,187.06 11,000.00 3,187.06 12,000.00 (2,187.06) -18.2%6507842 Utilities-Water150.63 200.00 (49.37) 1,727.59 2,200.00 (472.41) 2,400.00 672.41 28.0%6507844 Utilities-Cable333.38 317.00 16.38 3,712.93 3,487.00 225.93 3,800.00 87.07 2.3%Total-CH-UTILITIES 2,185.99 2,017.00 168.99 25,031.64 22,187.00 2,844.64 24,200.00 (831.64) -3.4%65-CH-OTHER EXPENSES6509091 Contract Services-Cleaning1,825.00 1,825.00 - 21,495.00 20,675.00 820.00 22,500.00 1,005.00 4.5%6509098 Contract Services-Refuse Dispose623.48 500.00 123.48 4,605.56 5,500.00 (894.44) 6,000.00 1,394.44 23.2%6509099 Contract Services-Security12,210.12 8,100.00 4,110.12 99,590.12 89,100.00 10,490.12 97,200.00 (2,390.12) -2.5%6509215 Flowers & Decorations- 100.00 (100.00) 1,319.08 2,500.00 (1,180.92) 2,600.00 1,280.92 49.3%6509490 Miscellaneous- 200.00 (200.00) 779.43 2,200.00 (1,420.57) 2,400.00 1,620.57 67.5%6509718 Safety Equipment & Training- 100.00 (100.00) 122.19 1,100.00 (977.81) 1,200.00 1,077.81 89.8%Total-CH-OTHER EXPENSES 14,658.60 10,825.00 3,833.60 127,911.38 121,075.00 6,836.38 131,900.00 3,988.62 3.0%65-CH-REPAIRS & MAINTENANCE6515685 CH-R&M-Building Structures- 200.00 (200.00) 5,696.94 2,200.00 3,496.94 2,400.00 (3,296.94) -137.4%6515686 CH-R&M-Restaurant Repairs321.10 400.00 (78.90) 5,035.29 4,400.00 635.29 4,800.00 (235.29) -4.9%6515690 CH-R&M-Equipment Repair- 400.00 (400.00) 2,823.49 4,400.00 (1,576.51) 4,800.00 1,976.51 41.2%Total-CH-REPAIRS & MAINTENANCE 321.10 1,000.00 (678.90) 13,555.72 11,000.00 2,555.72 12,000.00 (1,555.72) -13.0%Total CLUBHOUSE 17,394.44 14,242.00 3,152.44 171,496.84 158,662.00 12,834.84 172,900.00 (3,111.44) -1.8%Month to Date Year to DateSilverRock ResortClubhouse Expense StatementMay 2008Annual Budget7 MayFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget6603762 Supplies-Office 59.69 100.00 (40.31) 724.15 1,100.00 (375.85) 1,200.00 475.85 39.7%6603768 Supplies-Printing & Stationery - 125.00 (125.00) 4,513.66 4,300.00 213.66 4,425.00 (88.66) -2.0%59.69 225.00 (165.31) 5,237.81 5,400.00 (162.19) 5,625.00 387.19 6.9%66-MKT-UTILITIES6607840 Utilities-Telephone 36.95 100.00 (63.05) 1,852.03 1,100.00 752.03 1,200.00 (652.03) -54.3%Total-MKT-UTILITIES 36.95 100.00 (63.05) 1,852.03 1,100.00 752.03 1,200.00 (652.03) -54.3%66-MKT-OTHER EXPENSES6609010 Advertising 11,019.50 11,402.00 (382.50) 214,247.41 212,132.00 2,115.41 221,834.00 7,586.59 3.4%6609040 Business Meals - 25.00 (25.00) 49.67 275.00 (225.33) 300.00 250.33 83.4%6609080 Collateral Material - 1,000.00 (1,000.00) 3,507.19 8,500.00 (4,992.81) 9,000.00 5,492.81 61.0%6609102 Contract Services-Web Page 198.00 175.00 23.00 1,699.69 1,925.00 (225.31) 2,100.00 400.31 19.1%6609490 Miscellaneous - 50.00 (50.00) - 350.00 (350.00) 350.00 350.00 100.0%6609620 Postage - 50.00 (50.00) 222.75 550.00 (327.25) 600.00 377.25 62.9%6609630 Promotion 1,017.22 - 1,017.22 1,095.71 6,500.00 (5,404.29) 6,500.00 5,404.29 0.0%6609633 Promotion-Community - 75.00 (75.00) 150.00 2,850.00 (2,700.00) 2,925.00 2,775.00 94.9%6609634 Promotion-Media/Vendor 700.00 50.00 650.00 700.00 650.00 50.00 700.00 - 0.0%6609150 Dues and Subscriptions - - - 1,835.00 735.00 1,100.00 735.00 (1,100.00) -149.7%6609820 Uniforms - - - 268.90 600.00 (331.10) 600.00 331.10 55.2%Total-MKT-OTHER EXPENSES 12,934.72 12,827.00 107.72 223,776.32 235,067.00 (11,290.68) 245,644.00 21,867.68 8.9%Total-MARKETING 13,031.36 13,152.00 (120.64) 230,996.96 241,567.00 (10,570.04) 252,469.00 21,472.04 8.5%Month to Date Year to DateSilverRock ResortMarketing Expense StatementMay 2008Annual Budget8 MayFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense67-G&A-SALARIES & BENEFITS6701175 Employee Meals 180.00 180.00 - 1,980.00 1,980.00 - 2,160.00 180.00 8.3%6701320 Insurance-Group1,347.55 1,980.00 (632.45) 17,775.70 21,780.00 (4,004.30) 23,760.00 5,984.30 25.2%6701325 Insurance-Workers Comp1,231.67 1,673.00 (441.33) 15,285.46 18,403.00 (3,117.54) 20,076.00 4,790.54 23.9%6701720 Salaries 14,503.32 14,000.00 503.32 148,432.83 154,000.00 (5,567.17) 168,000.00 19,567.17 11.6%6701800 Taxes-Employer Payroll 1,807.92 2,083.00 (275.08) 15,013.25 22,913.00 (7,899.75) 24,994.00 9,980.75 39.9%6701880 Wages-Hourly2,679.11 2,730.00 (50.89) 29,700.46 30,030.00 (329.54) 32,756.00 3,055.54 9.3%6701882 Wages-Overtime - - - 298.13 - 298.13 - (298.13) 0.0%Total-G&A-SALARIES & BENEFITS 21,749.57 22,646.00 (896.43) 228,485.83 249,106.00 (20,620.17) 271,746.00 43,260.17 15.9%67-G&A-SUPPLIES & MATERIALS6703740 Supplies-Computer74.34 500.00 (425.66) 7,064.96 5,500.00 1,564.96 6,000.00 (1,064.96) -17.7%6703762 Supplies-Office 470.65 125.00 345.65 1,804.76 1,375.00 429.76 1,500.00 (304.76) -20.3%6703768 Supplies-Printing & Stationery801.54 400.00 401.54 1,495.84 2,800.00 (1,304.16) 3,200.00 1,704.16 53.3%6703778Supplies-Small Tools/Non-Capital - 100.00 (100.00) 1,061.50 900.00 161.50 900.00 (161.50) -17.9%Total-G&A-SUPPLIES & MATERIALS 1,346.53 1,125.00 221.53 11,427.06 10,575.00 852.06 11,600.00 172.94 1.5%67-G&A-REPAIRS & MAINTENANCE6705690 Repairs & Maintenance-Equipment74.34 100.00 (25.66) 1,597.31 1,100.00 497.31 1,200.00 (397.31) -33.1%Total-G&A-REPAIRS & MAINTENANCE 74.34 100.00 (25.66) 1,597.31 1,100.00 497.31 1,200.00 (397.31) -33.1%67-G&A-OTHER EXPENSES6709020 Auto/Mileage Allowance400.00 400.00 - 4,400.00 4,400.00 - 4,800.00 400.00 8.3%6709090 Contract Services85.00 - 85.00 2,692.15 - 2,692.15 - - 0.0%6709150 Dues & Subscriptions596.00 500.00 96.00 896.00 1,450.00 (554.00) 1,500.00 604.00 40.3%6709180 Employee Recruiting/Relocation56.00 - 56.00 2,656.72 4,600.00 (1,943.28) 4,600.00 1,943.28 42.2%6709197 Equipment Rental552.01 350.00 202.01 5,790.34 3,850.00 1,940.34 4,200.00 (1,590.34) -37.9%6709202 Fees-Bank35.15 300.00 (264.85) 477.67 3,300.00 (2,822.33) 3,600.00 3,122.33 86.7%6709208 Fees-Payroll Processing857.36 550.00 307.36 8,307.81 6,050.00 2,257.81 6,600.00 (1,707.81) -25.9%6709220 Freight/Delivery53.48 50.00 3.48 366.99 550.00 (183.01) 600.00 233.01 38.8%6709490 Miscellaneous 55.29 100.00 (44.71) 974.45 1,100.00 (125.55) 1,200.00 225.55 18.8%6709491 Loss/Damage- - - 150.00 - 150.00 - 0.0%6709620 Postage/Mail Services 156.99 75.00 81.99 1,426.80 825.00 601.80 900.00 (526.80) -58.5%6709625 Professional Fees- 400.00 (400.00) 1,411.28 4,400.00 (2,988.72) 4,800.00 3,388.72 70.6%6709636 Promotion/Entertainment- 100.00 (100.00) 3,636.53 1,100.00 2,536.53 1,200.00 (2,436.53) -203.0%6709722 Seminars & Training250.00 200.00 50.00 1,561.34 800.00 761.34 900.00 (661.34) -73.5%6709810 Travel - 500.00 (500.00) - 900.00 (900.00) 1,100.00 1,100.00 100.0%6709820 Uniforms - 75.00 (75.00) 548.04 975.00 (426.96) 1,050.00 501.96 47.8%Total-G&A-OTHER EXPENSES 3,097.28 3,600.00 (502.72) 35,296.12 34,300.00 996.12 37,050.00 4,596.03 12.4%Total-GENERAL & ADMINISTRATIVE26,267.72 27,471.00 (1,203.28) 276,806.32 295,081.00 (18,274.68) 321,596.00 47,631.83 14.8%Month to Date Year to DateSilverRock ResortGeneral & Administrative Expense StatementMay 2008Annual Budget9 MayFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense68-LEASES6800192 Equipment Leases-Carts 12,404.64 9,800.00 2,604.64 113,863.25 107,800.00 6,063.25 117,600.00 3,736.75 3.2%6800193 Equipment Leases-Course Maint 16,473.43 20,000.00 (3,526.57) 194,493.06 220,000.00 (25,506.94) 240,000.00 45,506.94 19.0%6800194 Equipment Leases-Trailer 260.00 600.00 (340.00) 6,951.92 6,600.00 351.92 7,200.00 248.08 3.4%6800195 Equipment Leases-Software 1,783.79 1,525.00 258.79 20,078.25 16,775.00 3,303.25 18,300.00 (1,778.25) -9.7%6800196 Equipment Leases-GPS 6,840.14 7,400.00 (559.86) 75,241.54 81,400.00 (6,158.46) 88,800.00 13,558.46 15.3%6800198 Equipment Leases-Others 2,313.99 - 2,313.99 26,681.20 - 26,681.20 - - 0.0%Total-LEASES 40,075.99 39,325.00 750.99 437,309.22 432,575.00 4,734.22 471,900.00 61,271.98 13.0%69-MISC OTHER EXPENSES6900096 Contract Srvcs-Management Fee 2,144.13 13,356.00 (11,211.87) 68,940.88 91,432.00 (22,491.12) 111,277.00 42,336.12 38.0%6900210 FF&E Reserve 6,883.21 6,027.00 856.21 66,663.98 67,844.00 (1,180.02) 71,686.00 5,022.02 7.0%6900800 Personal Property Taxes - - - 18,249.05 20,000.00 (1,750.95) 20,000.00 1,750.95 8.8%6900323 Insurance-Commercial 2,278.00 4,200.00 (1,922.00) 23,846.55 46,200.00 (22,353.45) 50,400.00 26,553.45 52.7%Total-MISC OTHER EXPENSES11,305.34 23,583.00 (12,277.66) 177,700.46 225,476.00 (47,775.54) 253,363.00 75,662.54 29.9% Operating Leases & Miscellaneous Other Expense StatementMay 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 CategoryJanuaryFebruaryMarchAprilMayJuneMedia215712 2Sales3212PromotionGolf Industry11 372636 12VIPCelebrityPGA Comp60 656370 68Charity/Gift Certificate11 4 9Rain/Wind Checks442532 6Club Staff59 32101 124LQ HS Golf85 131 158 0147 245 264 310 223 011 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report-2007-2008May 2008Date Time Description CategoryPlayers5/2/2008 12:00 Ed Zier-Universal Studios Sales 25/7/2008 1:52 Scott Ackerson-Fox Sports Network Media 212