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06 December 2008 SilverRock Resort - Monthly Financial Statement
Monthly Financial Statements July 2008 – December 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 December Final Budget Variance Percentages Unfavorable (-) Favorable (+) Final Budget Variance Annual Budget Unemcumb. % Bdgt Income400000 Golf Green Fee Revenue 258,242.25 292,365.00 (34,122.75) -11.7% 917,991.50 1,037,458.00 (119,466.50) 3,255,761.00 2,337,769.50 28%401000 Miscellaneous Golf Revenue 10,892.83 11,940.00 (1,047.17) -8.8% 44,353.73 48,187.00 (3,833.27) 113,217.00 68,863.27 39%410000 Revenue-Golf Shop 21,118.33 30,600.00 (9,481.67) -31.0% 97,753.91 121,951.00 (24,197.09) 375,951.00 278,197.09 26%420000 Revenue-F&B Concession 1,500.00 1,500.00 - 0.0% 6,000.00 6,000.00 - 12,000.00 6,000.00 50%890000 Interest Income 4.78 - 4.78 0.0% 51.51 - 51.51 - (51.51) 0%Total Income291,758.19 336,405.00 (44,646.81) -13.3% 1,066,150.65 1,213,596.00 (147,445.35) 3,756,929.00 2,690,778.35 28%Cost of Goods Sold510000 COS-Golf Shop 11,760.97 16,241.00 (4,480.03) 27.6% 54,095.18 64,725.00 10,629.82 199,538.00 145,442.82 27%Total COS11,760.97 16,241.00 (4,480.03) 27.6% 54,095.18 64,725.00 10,629.82 199,538.00 145,442.82 27%Gross Profit279,997.22 320,164.00 (40,166.78) -12.5% 1,012,055.47 1,148,871.00 (136,815.53) 3,557,391.00 2,545,335.53 28%Expenses610000 Golf Pro Shop 19,935.99 25,127.00 5,191.01 20.7% 110,364.82 127,210.00 16,845.18 279,518.00 169,153.18 39%630000 Course Maintenance 135,791.85 141,636.00 5,844.15 4.1% 978,827.27 1,006,305.00 27,477.73 1,805,855.00 827,027.73 54%640000 Outside Services 28,038.00 26,245.00 (1,793.00) -6.8% 121,355.56 130,151.00 8,795.44 294,037.00 172,681.44 41%650000 Clubhouse 12,713.65 13,842.00 1,128.35 8.2% 80,715.68 83,652.00 2,936.32 168,104.00 87,388.32 48%660000 Marketing 32,546.53 30,353.00 (2,193.53) -7.2% 135,884.60 135,943.00 58.40 298,081.00 162,196.40 46%670000 General & Administrative 27,909.54 28,232.00 322.46 1.1% 140,912.92 165,192.00 24,279.08 333,834.00 192,921.08 42%680000 Leases 39,354.79 41,106.00 1,751.21 4.3% 244,577.94 246,636.00 2,058.06 493,272.00 248,694.06 50%690000 Miscellaneous Other Expense 20,054.31 20,914.00 859.69 4.1% 131,637.91 141,935.00 10,297.09 227,140.00 95,502.09 58%Total Expenses316,344.66 327,455.00 11,110.34 3.4% 1,944,276.70 2,037,024.00 92,747.30 3,899,841.00 1,955,564.30 50%Net Income (36,347.44) (7,291.00) (29,056.44) -398.5%(932,221.23) (888,153.00) (44,068.23) (342,450.00) 589,771.23 272%Rounds of Golf PlayedPaid Rounds Played 3,476 3,600 (124) -3.4% 15,289 15,950 (661) 40,580 25,291 38%Ave $ Per Paid Round Green Fee 74.29 81.21 (6.92) -8.5% 60.04 65.04 (5.00) 77.90 17.86 77%Ave $ Per Paid Round Merchandise 6.08 8.50 (2.42) -28.5% 6.39 7.65 (1.25) 8.07 1.68 79%Ave $ Per Paid Miscellaneous 3.13 3.32 (0.18) -5.5% 2.90 3.02 (0.12) 2.06 - 0%Month to Date Year to DateDecember 2008SilverRock ResortSummary Operating Income Statement1 Income December Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4000000 Revenue-Fees 258,242.25 292,365.00 (34,122.75) 917,991.50 1,037,458.00 (119,466.50) 3,255,761.002,337,769.5028%4010000 Rider Fee 650.00 360.00 290.00 3,300.00 3,464.00 (164.00) 5,984.002,684.0055%4040000 Club Rental 1,700.00 1,980.00 (280.00) 7,215.00 8,773.00 (1,558.00) 27,583.0020,368.0026%4050000 Driving Range 6,399.00 3,600.00 2,799.00 21,382.00 15,950.00 5,432.00 46,650.0025,268.0046%4060000 Handicap Fees 765.00 2,500.00 (1,735.00) 5,645.00 6,000.00 (355.00) 8,000.00 2,355.0071%4080000 GPS Advertising 500.00 2,000.00 (1,500.00) 3,575.00 9,000.00 (5,425.00) 12,000.00 8,425.0030%4090000 Ball Retriever/Subcontract - - - 993.40 2,000.00 (1,006.60) 4,000.00 3,006.6025%4091000 Golf Professional Rental Fee 750.00 1,500.00 (750.00) 1,750.00 3,000.00 (1,250.00) 9,000.00 7,250.00 19%4092000 Golf Lessons 128.83 - 128.83 493.33 - 493.33 - (493.33) 0% Total Revenue Fees 269,135.08 304,305.00 (35,169.92) 962,345.23 1,085,645.00 (123,299.77) 3,368,978.00 2,406,632.77 29%Total Income 269,135.08 304,305.00 (35,169.92) 962,345.23 1,085,645.00 (123,299.77) 3,368,978.00 2,406,632.77 29%SilverRock ResortStatement of Fees RevenueDecember 2008Month to Date Year to Date Annual Budget2 Income December Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4100000 Sales Miscellaneous 396.76 - 396.76 4,535.00 - 4,535.00 4100110 Sales Hard Goods 8,911.57 10,710.00 (1,798.43) 48,145.70 42,683.00 5,462.70 131,583.00 83,437.30 37%4100112 Sales-Soft Goods 17,162.63 19,890.00 (2,727.37) 64,146.83 79,268.00 (15,121.17) 244,368.00 180,221.17 26%5100639 GS-Discounts-Mdse (5,352.63) - (5,352.63) (19,073.62) - (19,073.62) - 19,073.62 0% Total Revenue Golf Shop 21,118.33 30,600.00 (9,481.67) 97,753.91 121,951.00 (24,197.09) 375,951.00 282,732.09 25%COS 5100150 COS-GS-Hard Goods 3,896.46 5,891.00 (1,994.54) 23,703.13 23,476.00 227.13 72,373.00 48,669.87 33%5100151 COS-GS-Soft Goods 7,738.36 10,940.00 (3,201.64) 28,872.41 43,597.00 (14,724.59) 134,404.00 105,531.59 21%5100152 COS-GS-Purchase Disc (55.51) (842.00) 786.49 (86.51) (3,354.00) 3,267.49 (10,341.00) (10,254.49) -1%5100220 COS-GS-Freight Merch 181.66 252.00 (70.34) 1,606.15 1,006.00 600.15 3,102.00 1,495.85 52%Cost of Sales - Golf Shop 11,760.97 16,241.00 (4,480.03) 54,095.18 64,725.00 (10,629.82) 199,538.00 145,442.82 27%Gross Profit 9,357.36 14,359.00 (5,001.64) 43,658.73 57,226.00 (13,567.27) 176,413.00 137,289.27 22%COS % 55.7% 53.1% -2.6% 55.3% 53.1% -2.3% 53.1% 51.4% 3%Expense61-PS-SALARIES & BENEFITS6101175 Employee Meals 480.00 480.00 - 2,580.00 2,580.00 - 5,400.00 2,820.00 48%6101320 Insurance Group 2,394.88 3,150.00 (755.12) 15,045.55 17,550.00 (2,504.45) 36,450.00 21,404.45 41%6101325 Insurance-Workers Comp 496.61 1,376.00 (879.39) 2,747.88 6,638.00 (3,890.12) 14,771.00 12,023.12 19%6101720 Salaries 5,959.06 6,082.00 (122.94) 35,758.69 34,967.00 791.69 71,459.00 35,700.31 50%6101800 Taxes-Employer Payroll 1,433.61 2,090.00 (656.39) 5,238.01 10,080.00 (4,841.99) 22,431.00 17,192.99 23%6101880 Wages-Hourly 6,620.61 10,704.00 (4,083.39) 37,047.71 46,000.00 (8,952.29) 108,712.00 71,664.29 34%6101882 Wages-Overtime 77.45 - 77.45 357.89 - 357.89 - 952.88 0%Total -PS-SALARIES & BENEFITS 17,462.22 23,882.00 (6,419.78) 98,775.73 117,815.00 (19,039.27) 259,223.00 161,758.04 38%61-PS OTHER EXPENSES6103742 Supplies-Expendable - - - - - - - - 0%6103762 Supplies-Office 1,028.42 300.00 728.42 3,166.19 2,000.00 1,166.19 2,950.00 (216.19) 107%6109090 Contract Services 500.00 500.00 - 3,000.00 3,000.00 - 6,000.00 3,000.00 50%6109220 Freight & Delivery 83.28 25.00 58.28 535.01 75.00 460.01 75.00 (460.01) 713%6109490 Miscellaneous 151.92 50.00 101.92 330.89 150.00 180.89 450.00 119.11 74%6109150 Dues and Subscriptions 114.18 - 114.18 267.23 - 267.23 2,000.00 1,732.77 13%6109500 ProShop-Over/Short 5.19 - 5.19 89.42 - 89.42 (89.42) 0%6109722 Seminars/Training - 100.00 (100.00) 2,315.00 2,850.00 (535.00) 5,490.00 3,175.00 42%6109810 Travel - Merchandise - - - - - - 90.00 90.00 0%6109820 Uniforms 451.38 200.00 251.38 1,021.48 900.00 121.48 2,400.00 1,378.52 43%6117840 Telephones 139.40 70.00 69.40 863.87 420.00 443.87 840.00 (23.87) 0%Total PS-OTHER EXPENSES 2,473.77 1,245.00 1,228.77 11,589.09 9,395.00 2,194.09 20,295.00 8,705.91 57%Total Expenses19,935.99 25,127.00 (5,191.01) 110,364.82 127,210.00 (16,845.18) 279,518.00 170,463.95 39%Net Income(10,578.63) (10,768.00) 189.37 (66,706.09) (69,984.00) 3,277.91 (103,105.00) (33,174.68) -68%Month to Date Year to Date Annual BudgetSilverRock ResortGolf Shop Income StatementDecember 20083 December Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense63-CM-SALARIES & BENEFITS6311175 Employee Meals 240.00 240.00 - 1,440.00 1,440.00 - 2,880.00 1,440.00 50.0%6311320 Insurance-Group 11,234.89 12,083.00 (848.11) 69,319.89 72,498.00 (3,178.11) 144,996.00 75,676.11 52.2%6311325 Insurance-Workers Comp 1,875.92 4,841.00 (2,965.08) 12,249.60 29,810.00 (17,560.40) 59,020.00 46,770.40 79.2%6311720 Salaries 11,001.60 12,331.00 (1,329.40) 69,120.00 73,986.00 (4,866.00) 147,978.00 78,858.00 53.3%6311800 Taxes-Employer Payroll 6,645.92 7,350.00 (704.08) 30,798.66 45,839.00 (15,040.34) 90,311.00 59,512.34 65.9%6311880 Wages-Hourly 48,906.31 46,708.00 2,198.31 275,550.80 280,248.00 (4,697.20) 560,520.00 284,969.20 50.8%6311882 Wages-Overtime - - - 22,939.18 13,966.00 8,973.18 16,894.00 (6,045.18) -35.8%Total-CM-SALARIES & BENEFITS79,904.64 83,553.00 (3,648.36) 481,418.13 517,787.00 (36,368.87) 1,022,599.00 541,180.87 52.9%63-CM-SUPPLIES & MATERIALS6313734 Chemicals 5,082.10 2,200.00 2,882.10 21,899.07 14,800.00 7,099.07 25,200.00 3,300.93 13.1%6313744 Fertilizer 14,145.60 12,000.00 2,145.60 66,182.41 61,700.00 4,482.41 95,200.00 29,017.59 30.5%6313746 Flowers/Plants 154.64 1,000.00 (845.36) 1,800.52 2,250.00 (449.48) 3,500.00 1,699.48 48.6%6313748 Fuel-Gasoline 2,185.66 3,740.00 (1,554.34) 23,666.08 25,630.00 (1,963.92) 45,540.00 21,873.92 48.0%6313750 Golf Course Accessories 219.49 500.00 (280.51) 8,843.14 6,300.00 2,543.14 7,000.00 (1,843.14) -26.3%6313756 POA Control 199.45 - 199.45 4,007.39 3,000.00 1,007.39 6,000.00 1,992.61 33.2%6313758 Miscellaneous Supp 476.02 100.00 376.02 3,167.98 600.00 2,567.98 - (3,167.98) 0.0%6313762 Supplies-Office - - - 306.97 - 306.97 1,200.00 893.03 74.4%6313774 Sand - 800.00 (800.00) 5,696.11 5,780.00 (83.89) 6,660.00 963.89 14.5%6313775 Sand-Bunkers - - - 3,702.67 5,000.00 (1,297.33) 5,000.00 1,297.33 25.9%6313776 Seed - 350.00 (350.00) 109,819.49 99,710.00 10,109.49 101,810.00 (8,009.49) -7.9%6313778 Small Tools & Non-Capital Equip 111.65 100.00 11.65 4,582.17 6,400.00 (1,817.83) 7,000.00 2,417.83 34.5%6313780 Sod - 250.00 (250.00) 5,159.85 3,750.00 1,409.85 5,750.00 590.15 10.3%6313782 Topdressing - - - 5,035.98 5,000.00 35.98 7,600.00 2,564.02 33.7%Total-CM-SUPPLIES & MATERIALS22,574.61 21,040.00 1,534.61 263,869.83 239,920.00 23,949.83 317,460.00 53,590.17 16.9%63-CM-REPAIRS & MAINTENANCE6315095 CM-R&M-Contract Lake Maint 1,464.49 2,500.00 (1,035.51) 9,098.60 8,000.00 1,098.60 16,000.00 6,901.40 43.1%6315685 CM-R&M-Bldngs & Othr Structures 166.50 - 166.50 1,076.00 - 1,076.00 500.00 (576.00) -115.2%6315690 CM-R&M-Equipment 3,747.62 4,000.00 (252.38) 31,780.73 32,700.00 (919.27) 46,100.00 14,319.27 31.1%6315692 CM-R&M-Irrigation System 731.08 550.00 181.08 9,928.66 9,250.00 678.66 15,450.00 5,521.34 35.7%6315696 CM-R&M-Pumps - 1,000.00 (1,000.00) 5,227.44 6,000.00 (772.56) 10,500.00 5,272.56 50.2%6315815 CM-R&M-Trees-Pruning Etc - - - 4,054.64 3,000.00 1,054.64 9,000.00 4,945.36 54.9%Total-CM-REPAIRS & MAINTENANCE 6,109.69 8,050.00 (1,940.31) 61,166.07 58,950.00 2,216.07 97,550.00 36,383.93 37.3%63-CM-UTILTIES6317830 Utilities-Electricity-Bldngs 5.38 - 5.38 32.28 - 32.28 - (32.28) 0.0%6317836 Utilities-Natural Gas/LPG - 150.00 (150.00) - 900.00 (900.00) 1,800.00 1,800.00 0.0%6317840 Telephones 869.35 800.00 69.35 5,021.55 4,800.00 221.55 9,600.00 4,578.45 47.7%Total-CM-UTILITIES 874.73 950.00 (75.27) 5,053.83 5,700.00 (646.17) 11,400.00 6,346.17 55.7%63-CM-OTHER EXPENSES6319020 Auto Mileage/Allowance 500.00 500.00 - 3,000.00 3,000.00 - 6,000.00 3,000.00 50.0%6319100 Contract Svcs-Soil/Tissue Test - - - 1,500.00 2,000.00 (500.00) 4,000.00 2,500.00 62.5%6319101 Contract Svcs-Trash Removal 524.05 - 524.05 3,007.16 - 3,007.16 - (3,007.16) 0.0%6319150 Dues & Subscriptions 210.00 - 210.00 455.00 400.00 55.00 900.00 445.00 49.4%6319170 Employee Education - 50.00 (50.00) - 300.00 (300.00) 600.00 600.00 100.0%6319197 Equipment Rental 529.82 200.00 329.82 2,946.41 3,100.00 (153.59) 4,200.00 1,253.59 29.8%6319206 Licenses & Permits - - - 60.00 200.00 (140.00) 1,600.00 1,540.00 96.3%6319490 Miscellaneous - 100.00 (100.00) 143.02 600.00 (456.98) 1,200.00 1,056.98 88.1%6319718 Safety Equipment & Training 466.16 200.00 266.16 1,937.32 2,500.00 (562.68) 3,400.00 1,462.68 43.0%6319822 Uniforms 841.89 820.00 21.89 4,315.22 4,920.00 (604.78) 9,840.00 5,524.78 56.1%Total-CM-OTHER EXPENSES 3,071.92 1,870.00 1,201.92 17,364.13 17,020.00 344.13 31,740.00 14,375.87 45.3%Month to Date Year to DateSilverRock ResortCourse Maintenance Expense StatementDecember 2008Annual Budget4 December Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget632-CM-LANDSCAPE MAINTENANCE632-CM-LM-SALARIES & BENEFITS6321320 Insurance-Group 1,149.50 1,104.00 45.50 7,576.00 6,624.00 952.00 13,248.00 5,672.00 42.8%6321325 Insurance-Workers Comp 416.92 1,078.00 (661.08) 2,695.59 6,740.00 (4,044.41) 13,257.00 10,561.41 79.7%6321800 Taxes-Employer Payroll 1,458.13 1,636.00 (177.87) 6,142.37 10,439.00 (4,296.63) 20,368.00 14,225.63 69.8%6321880 Wages-Hourly 13,886.10 13,141.00 745.10 77,433.89 78,846.00 (1,412.11) 157,692.00 80,258.11 50.9%6321882 Wages-Overtime 11.06 - 11.06 5,085.55 5,005.00 80.55 5,915.00 829.45 14.0%Total-CM-LM-SALARIES & BENEFITS16,921.71 16,959.00 (37.29) 98,933.40 107,654.00 (8,720.60) 210,480.00 111,546.60 53.0%632-CM-LM-SUPPLIES & MATERIALS6323778 Small Tools 17.36 75.00 (57.64) 367.79 575.00 (207.21) 1,025.00 657.21 64.1%6323788 Uniforms 336.46 290.00 46.46 1,911.23 1,740.00 171.23 3,480.00 1,568.77 45.1%Total-CM-LM-SUPPLIES & MATERIALS353.82 365.00 (11.18) 2,279.02 2,315.00 (35.98) 4,505.00 2,225.98 49.4%632-CM-LM-REPAIRS & MAINTENANCE6325687 CM-LM-R&M-Drip Irrigation 14.80 500.00 (485.20) 1,502.31 2,500.00 (997.69) 4,250.00 2,747.69 64.7%Total-CM-LM-REPAIRS & MAINTENANCE 14.80 500.00 (485.20) 1,502.31 2,500.00 (997.69) 4,250.00 2,747.69 64.7%632-CM-WATER & ENERGY6337834 Utilities-Electricity-Pumping 3,686.45 7,000.00 (3,313.55) 27,784.70 42,000.00 (14,215.30) 84,000.00 56,215.30 66.9%6337842 Utilities-Water2,279.48 1,349.00 930.48 19,455.85 12,459.00 6,996.85 21,871.00 2,415.15 11.0%Total-CM-WATER & ENERGY5,965.93 8,349.00 (2,383.07) 47,240.55 54,459.00 (7,218.45) 105,871.00 58,630.45 55.4%135,791.85 141,636.00 (5,844.15) 978,827.27 1,006,305.00 (27,477.73) 1,805,855.00 827,027.73 45.8%Silverrock ResortCourse Maintenance Expense StatementDecember 2008Annual BudgetTotal -COURSE MAINTENANCEMonth to Date Year to Date5 December Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense641-CBR-SALARIES & BENEFITS6411175 Employee Meals 600.00 600.00 - 2,820.00 2,820.00 - 6,180.00 3,360.00 54.4%6411320 Insurance-Group 177.85 720.00 (542.15) 448.95 4,320.00 (3,871.05) 8,640.00 8,191.05 94.8%6411325 Insurance-Workers Comp 419.36 1,682.00 (1,262.64) 1,698.10 6,969.00 (5,270.90) 16,511.00 14,812.90 89.7%6411800 Taxes-Employer Payroll 1,649.79 1,459.00 190.79 5,544.04 6,044.00 (499.96) 14,318.00 8,773.96 61.3%6411880 Wages-Hourly 12,896.90 11,715.00 1,181.90 49,174.84 48,540.00 634.84 114,990.00 65,815.16 57.2%6411882 Wages-Overtime 6.51 - 6.51 146.56 - 146.56 - (146.56) 0.0%Total-CBR-SALARIES & BENEFITS15,750.41 16,176.00 (425.59) 59,832.49 68,693.00 (8,860.51) 160,639.00 100,806.51 62.8%641-CBR-SUPPLIES & MATERIALS6413732 Supplies-Carts - 500.00 (500.00) 487.62 2,000.00 (1,512.38) 2,350.00 1,862.38 79.3%6413742 Supplies-Expendable 695.02 150.00 545.02 3,280.32 3,400.00 (119.68) 5,850.00 2,569.68 43.9%6413752 Supplies-Range Balls 594.12 - 594.12 5,820.00 6,000.00 (180.00) 6,000.00 180.00 3.0%6413762 Supplies-Office - 50.00 (50.00) - 225.00 (225.00) 525.00 525.00 100.0%6413768 Supplies-Printing and Stationary - - - - - - 420.00 420.00 100.0%6413786 Supplies-Towels 1,275.19 72.00 1,203.19 3,334.69 1,860.00 1,474.69 2,292.00 (1,042.69) -45.5%6413796 Supplies-Bottled Water1,527.40 1,300.00 227.40 7,809.52 8,650.00 (840.48) 23,950.00 16,140.48 67.4%Total-CBR-SUPPLIES & MATERIALS4,091.73 2,072.00 2,019.73 20,732.15 22,135.00 (1,402.85) 41,387.00 20,654.85 49.9%641-CBR-REPAIRS & MAINTENANCE6415096 CBR-R&M-Contract Services-Carts 720.00 720.00 - 4,395.00 4,320.00 75.00 8,640.00 4,245.00 49.1%6415690 CBR-R&M-Equipment 44.27 125.00 (80.73) 294.03 750.00 (455.97) 1,500.00 1,205.97 80.4%6415695 CBR-R&M-Cart Maintenance & Repair 86.34 250.00 (163.66) 3,141.18 2,500.00 641.18 4,000.00 858.82 21.5%Total-CBR-REPAIRS & MAINTENANCE 850.61 1,095.00 (244.39) 7,830.21 7,570.00 260.21 14,140.00 6,309.79 44.6%641-CBR-OTHER EXPENSES6419093 Contract Services-Handicaps 15.00 1,250.00 (1,235.00) 1,645.00 2,350.00 (705.00) 5,000.00 3,355.00 67.1%6419094 Contract Services-Laundry/Linen 76.27 500.00 (423.73) 2,117.94 3,000.00 (882.06) 6,000.00 3,882.06 64.7%6419220 Freight/Delivery 7.56 75.00 (67.44) 7.56 450.00 (442.44) 900.00 892.44 99.2%6419490 Miscellaneous 18.85 75.00 (56.15) 506.01 500.00 6.01 1,150.00 643.99 56.0%6419820 Uniforms 252.00 - 252.00 1,619.02 3,000.00 (1,380.98) 5,625.00 4,005.98 71.2%Total-CBR-OTHER EXPENSES 369.68 1,900.00 (1,530.32) 5,895.53 9,300.00 (3,404.47) 18,675.00 12,779.47 68.4%TOTAL-CARTS,BAGROOM & RANGE 21,062.43 21,243.00 (180.57) 94,290.38 107,698.00 (13,407.62) 234,841.00 140,550.62 59.8%643-CS-SALARIES & BENEFITS6431175 Employee Meals 480.00 480.00 - 2,040.00 2,040.00 - 4,860.00 2,820.00 58.0%6431325 Insurance-Workers Comp 163.95 289.00 (125.05) 569.39 1,246.00 (676.61) 3,446.00 2,876.61 83.5%6431800 Taxes-Employer Payroll 576.27 438.00 138.27 1,980.22 1,892.00 88.22 5,220.00 3,239.78 62.1%6431880 Wages-Hourly 5,464.80 3,520.00 1,944.80 17,288.80 15,200.00 2,088.80 41,920.00 24,631.20 58.8%6431882 Wages-Overtime - - - 48.00 - 48.00 - (48.00) 0.0%Total-CS-SALARIES & BENEFITS6,685.02 4,727.00 1,958.02 21,926.41 20,378.00 1,548.41 55,446.00 33,519.59 60.5%643-CS-OTHER EXPENSES6433742 Supplies Expendable - 100.00 (100.00) 2,479.87 500.00 1,979.87 1,050.00 (1,429.87) -136.2%6439490 Miscellaneous 290.55 50.00 240.55 290.55 150.00 140.55 200.00 (90.55) -45.3%6439718 Safety Equipment & Training - 50.00 (50.00) 43.10 300.00 (256.90) 600.00 556.90 92.8%6439820 Uniforms - 75.00 (75.00) 2,325.25 1,125.00 1,200.25 1,900.00 (425.25) -22.4%Total-CS-OTHER EXPENSES 290.55 275.00 15.55 5,138.77 2,075.00 3,063.77 3,750.00 (1,388.77) -37.0%Total-COURSE SERVICES 6,975.57 5,002.00 1,973.57 27,065.18 22,453.00 4,612.18 59,196.00 32,130.82 54.3%TOTAL OUTSIDE SERVICES 28,038.00 26,245.00 1,793.00 121,355.56 130,151.00 (8,795.44) 294,037.00 174,070.21 59.2%Month to Date Year to DateSilverRock ResortOutside Services Expense StatementDecember 2008Annual Budget6 December Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense65-CH-SUPPLIES & MATERIALS6503742 Supplies-Expendable- 400.00 (400.00) 355.82 2,400.00 (2,044.18) 4,800.00 4,444.18 92.6%Total-CH-SUPPLIES & MATERIALS - 400.00 (400.00) 355.82 2,400.00 (2,044.18) 4,800.00 4,444.18 92.6%65-CH-UTILITIES6507836 Utilities-Natural Gas470.65 300.00 170.65 1,770.75 1,800.00 (29.25) 3,600.00 1,829.25 50.8%6507838 Utilities-Sewer- 200.00 (200.00) 600.00 1,200.00 (600.00) 2,400.00 1,800.00 75.0%6507840 Utilities-Telephone1,047.81 1,000.00 47.81 6,237.81 6,000.00 237.81 12,000.00 5,762.19 48.0%6507842 Utilities-Water222.69 200.00 22.69 2,118.53 1,200.00 918.53 2,400.00 281.47 11.7%6507844 Utilities-Cable- 317.00 (317.00) 1,873.97 1,902.00 (28.03) 3,804.00 1,930.03 50.7%Total-CH-UTILITIES 1,741.15 2,017.00 (275.85) 12,601.06 12,102.00 499.06 24,204.00 11,602.94 47.9%65-CH-OTHER EXPENSES6509091 Contract Services-Cleaning1,750.00 1,825.00 (75.00) 11,355.00 11,550.00 (195.00) 22,500.00 11,145.00 49.5%6509099 Contract Services-Security8,717.76 8,200.00 517.76 50,193.52 49,200.00 993.52 98,400.00 48,206.48 49.0%6509215 Flowers & Decorations- 100.00 (100.00) - 600.00 (600.00) 2,600.00 2,600.00 100.0%6509490 Miscellaneous- 200.00 (200.00) - 1,200.00 (1,200.00) 2,400.00 2,400.00 100.0%6509718 Safety Equipment & Training- 100.00 (100.00) - 600.00 (600.00) 1,200.00 1,200.00 100.0%Total-CH-OTHER EXPENSES 10,779.50 10,425.00 354.50 63,730.70 63,150.00 580.70 127,100.00 63,369.30 49.9%65-CH-REPAIRS & MAINTENANCE6515685 CH-R&M-Building Structures193.00 200.00 (7.00) 2,299.00 1,200.00 1,099.00 2,400.00 101.00 4.2%6515686 CH-R&M-Restaurant Repairs- 400.00 (400.00) 1,729.10 2,400.00 (670.90) 4,800.00 3,070.90 64.0%6515690 CH-R&M-Equipment Repair- 400.00 (400.00) - 2,400.00 (2,400.00) 4,800.00 4,800.00 100.0%Total-CH-REPAIRS & MAINTENANCE 193.00 1,000.00 (807.00) 4,028.10 6,000.00 (1,971.90) 12,000.00 7,971.90 66.4%Total CLUBHOUSE 12,713.65 13,842.00 (1,128.35) 80,715.68 83,652.00 (2,936.32) 168,104.00 15,943.80 9.5%Month to Date Year to DateSilverRock ResortClubhouse Expense StatementDecember 2008Annual Budget7 December Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense66-MKT-SALARIES & BENEFITS6601175 Employee Meals 60.00 60.00 - 360.00 360.00 - 720.00 360.00 50.0%6601320 Insurance-Group 341.11 450.00 (108.89) 1,374.18 2,700.00 (1,325.82) 5,400.00 4,025.82 74.6%6601325 Insurance-Workers Comp 75.09 205.00 (129.91) 500.28 1,230.00 (729.72) 2,460.00 1,959.72 79.7%6601720 Salaries 2,500.00 2,500.00 - 15,000.00 15,000.00 - 30,000.00 15,000.00 50.0%6601800 Taxes-Employer Payroll 311.00 311.00 - 2,177.00 1,866.00 311.00 3,732.00 1,555.00 41.7%Total-MKT-SALARIES & BENEFITS 3,287.20 3,526.00 (238.80) 19,411.46 21,156.00 (1,744.54) 42,312.00 22,900.54 54.1%66-MKT-SUPPLIES & MATERIALS6603762 Supplies-Office - 100.00 (100.00) - 600.00 (600.00) 1,200.00 1,200.00 100.0%6603768 Supplies-Printing & Stationery - 200.00 (200.00) 2,755.74 3,600.00 (844.26) 4,425.00 1,669.26 37.7%- 300.00 (300.00) 2,755.74 4,200.00 (1,444.26) 5,625.00 2,869.26 51.0%66-MKT-UTILITIES6607840 Utilities-Telephone 49.02 100.00 (50.98) 335.62 600.00 (264.38) 1,200.00 864.38 72.0%Total-MKT-UTILITIES 49.02 100.00 (50.98) 335.62 600.00 (264.38) 1,200.00 864.38 72.0%66-MKT-OTHER EXPENSES6609010 Advertising 28,773.44 24,777.00 3,996.44 108,463.83 96,362.00 12,101.83 225,134.00 116,670.17 51.8%6609040 Business Meals - 25.00 (25.00) - 150.00 (150.00) 300.00 300.00 100.0%6609080 Collateral Material 113.97 - 113.97 1,851.55 3,500.00 (1,648.45) 9,000.00 7,148.45 79.4%6609102 Contract Services-Web Page 99.00 175.00 (76.00) 495.00 1,050.00 (555.00) 2,100.00 1,605.00 76.4%6609490 Miscellaneous - 50.00 (50.00) - 100.00 (100.00) 350.00 350.00 100.0%6609620 Postage - 50.00 (50.00) 1.59 300.00 (298.41) 600.00 598.41 99.7%6609630 Promotion 223.90 500.00 (276.10) 2,123.36 5,500.00 (3,376.64) 6,500.00 4,376.64 0.0%6609633 Promotion-Community - 750.00 (750.00) 36.33 2,475.00 (2,438.67) 2,925.00 2,888.67 98.8%6609634 Promotion-Media/Vendor - 50.00 (50.00) - 150.00 (150.00) 700.00 - 0.0%6609150 Dues and Subscriptions - - - 371.71 - 371.71 735.00 363.29 49.4%6609820 Uniforms - 50.00 (50.00) 38.41 400.00 (361.59) 600.00 561.59 93.6%Total-MKT-OTHER EXPENSES 29,210.31 26,427.00 2,783.31 113,381.78 109,987.00 3,394.78 248,944.00 134,862.22 54.2%Total-MARKETING 32,546.53 30,353.00 2,193.53 135,884.60 135,943.00 (58.40) 298,081.00 161,496.40 54.2%Month to Date Year to DateSilverRock ResortMarketing Expense StatementDecember 2008Annual Budget8 December Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense67-G&A-SALARIES & BENEFITS6701175 Employee Meals 180.00 180.00 - 1,080.00 1,080.00 - 2,160.00 1,080.00 50.0%6701320 Insurance-Group1,530.92 2,250.00 (719.08) 8,568.61 13,500.00 (4,931.39) 27,000.00 18,431.39 68.3%6701325 Insurance-Workers Comp548.10 1,406.00 (857.90) 3,391.90 8,436.00 (5,044.10) 16,872.00 13,480.10 79.9%6701720 Salaries 15,303.76 14,416.00 887.76 86,601.39 86,496.00 105.39 172,992.00 86,390.61 49.9%6701800 Taxes-Employer Payroll 1,531.17 2,135.00 (603.83) 7,929.40 12,810.00 (4,880.60) 25,620.00 17,690.60 69.0%6701880 Wages-Hourly2,966.10 2,730.00 236.10 14,055.85 16,380.00 (2,324.15) 32,760.00 18,704.15 57.1%6701882 Wages-Overtime - - - - - - - - 0.0%Total-G&A-SALARIES & BENEFITS 22,060.05 23,117.00 (1,056.95) 121,627.15 138,702.00 (17,074.85) 277,404.00 155,776.85 56.2%67-G&A-SUPPLIES & MATERIALS6703740 Supplies-Computer1,744.47 800.00 944.47 2,093.56 4,800.00 (2,706.44) 10,800.00 8,706.44 80.6%6703762 Supplies-Office - 125.00 (125.00) 1,162.05 750.00 412.05 1,500.00 337.95 22.5%6703768 Supplies-Printing & Stationery215.50 400.00 (184.50) 777.66 800.00 (22.34) 3,200.00 2,422.34 75.7%6703778Supplies-Small Tools/Non-Capital - 100.00 (100.00) - 400.00 (400.00) 900.00 900.00 100.0%Total-G&A-SUPPLIES & MATERIALS 1,959.97 1,425.00 534.97 4,033.27 6,750.00 (2,716.73) 16,400.00 12,366.73 75.4%67-G&A-REPAIRS & MAINTENANCE6705690 Repairs & Maintenance-Equipment- 100.00 (100.00) 502.21 600.00 (97.79) 1,200.00 697.79 58.1%Total-G&A-REPAIRS & MAINTENANCE - 100.00 (100.00) 502.21 600.00 (97.79) 1,200.00 697.79 58.1%67-G&A-OTHER EXPENSES6709020 Auto/Mileage Allowance400.00 400.00 - 2,400.00 2,400.00 - 4,800.00 2,400.00 50.0%6709090 Contract Services- - - - - - - - 0.0%6709150 Dues & Subscriptions- 200.00 (200.00) - 550.00 (550.00) 1,500.00 1,500.00 100.0%6709180 Employee Recruiting/Relocation81.00 1,000.00 (919.00) 557.00 4,000.00 (3,443.00) 4,600.00 4,043.00 87.9%6709197 Equipment Rental436.87 350.00 86.87 1,967.70 2,100.00 (132.30) 4,200.00 2,232.30 53.2%6709202 Fees-Bank20.00 90.00 (70.00) 110.00 540.00 (430.00) 1,080.00 970.00 89.8%6709208 Fees-Payroll Processing1,509.86 550.00 959.86 4,777.00 3,300.00 1,477.00 6,600.00 1,823.00 27.6%6709220 Freight/Delivery- 50.00 (50.00) - 300.00 (300.00) 600.00 600.00 100.0%6709490 Miscellaneous 62.01 100.00 (37.99) 366.10 600.00 (233.90) 1,200.00 833.90 69.5%6709620 Postage/Mail Services 263.60 75.00 188.60 900.44 450.00 450.44 900.00 (0.44) 0.0%6709625 Professional Fees829.49 400.00 429.49 2,605.16 2,400.00 205.16 4,800.00 2,194.84 45.7%6709636 Promotion/Entertainment36.69 100.00 (63.31) 203.58 600.00 (396.42) 4,000.00 3,796.42 94.9%6709722 Seminars & Training250.00 200.00 50.00 500.00 1,200.00 (700.00) 2,400.00 1,900.00 79.2%6709810 Travel - - - - 100.00 (100.00) 1,100.00 1,100.00 100.0%6709820 Uniforms - 75.00 (75.00) 363.31 600.00 (236.69) 1,050.00 686.69 65.4%Total-G&A-OTHER EXPENSES 3,889.52 3,590.00 299.52 14,750.29 19,140.00 (4,389.71) 38,830.00 24,079.71 62.0%Total-GENERAL & ADMINISTRATIVE27,909.54 28,232.00 (322.46) 140,912.92 165,192.00 (24,279.08) 333,834.00 192,921.08 57.8%Month to Date Year to DateSilverRock ResortGeneral & Administrative Expense StatementDecember 2008Annual Budget9 December Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense68-LEASES6800192 Equipment Leases-Carts 11,581.04 11,581.00 0.04 65,942.15 69,486.00 (3,543.85) 138,972.00 73,029.85 52.6%6800193 Equipment Leases-Course Maint 16,244.12 20,000.00 (3,755.88) 98,059.01 120,000.00 (21,940.99) 240,000.00 141,940.99 59.1%6800194 Equipment Leases-Trailer 645.86 600.00 45.86 3,738.94 3,600.00 138.94 7,200.00 3,461.06 48.1%6800195 Equipment Leases-Software 1,791.93 1,525.00 266.93 10,751.58 9,150.00 1,601.58 18,300.00 7,548.42 41.2%6800196 Equipment Leases-GPS 6,840.14 7,400.00 (559.86) 41,040.84 44,400.00 (3,359.16) 88,800.00 47,759.16 53.8%6800197 Equipment Leases-Others 2,251.70 - 2,251.70 25,045.42 - 25,045.42 - - 0.0%Total-LEASES 39,354.79 41,106.00 (1,751.21) 244,577.94 246,636.00 (2,058.06) 493,272.00 273,739.48 55.5%69-MISC OTHER EXPENSES6900096 Contract Srvcs-Management Fee 11,099.55 10,686.00 413.55 78,573.66 76,662.00 1,911.66 90,000.00 11,426.34 12.7%6900210 FF&E Reserve 5,382.71 6,728.00 (1,345.29) 20,108.29 24,273.00 (4,164.71) 75,140.00 55,031.71 73.2%6900800 Personal Property Taxes - - - 20,812.13 20,000.00 812.13 20,000.00 (812.13) -4.1%6900323 Insurance-Commercial 3,572.05 3,500.00 72.05 12,143.83 21,000.00 (8,856.17) 42,000.00 29,856.17 71.1%Total-MISC OTHER EXPENSES20,054.31 20,914.00 (859.69) 131,637.91 141,935.00 (10,297.09) 227,140.00 95,502.09 42.0% Operating Leases & Miscellaneous Other Expense StatementDecember 2008Annual BudgetMonth to Date Year to Date10 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report-2008-20092008 2008 2008 2008 2008 2008Comp CategoryJulyAugustSeptemberOctoberNovemberDecemberMedia6182177Sales453PromotionGolf Industry11 16 5 5 4 16VIPCelebrityPGA Comp82 48 84 24 38 104Charity/Gift Certificate14 6 3 29 36Rain/Wind Checks66121319Club Staff137 116 113 21 45 69LQ HS Golf256 193 214 58 151 2542009 2009 2009 2009 2009 2009Comp CategoryJanuaryFebruaryMarchAprilMayJuneMediaSalesPromotionGolf IndustryVIPCelebrityPGA CompCharity/Gift CertificateRain/Wind ChecksClub StaffLQ HS Golf00000011 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report-2008-2009December 2008 Date Time Description CategoryPlayers12/6/2008 1:15 Gary Stone Media 212/11/2008 8:45 KMIR - Dean Vent Media 212/29/2008 10:30CBS2 - Debra CarabatSales312