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01 July 2008 SilverRock Resort - Monthly Financial Statement Monthly Financial Statements July 2008 – July 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 JulyFinal Budget Variance Percentages Unfavorable (-) Favorable (+) Final Budget Variance Annual Budget Unemcumb. % Bdgt Income400000 Golf Green Fee Revenue 93,095.00 91,718.00 1,377.00 1.5% 93,095.00 91,718.00 1,377.00 3,255,761.00 3,162,666.00 3%401000 Miscellaneous Golf Revenue 3,930.00 7,334.00 (3,404.00) -46.4% 3,930.00 7,334.00 (3,404.00) 113,217.00 109,287.00 3%410000 Revenue-Golf Shop 11,758.20 14,700.00 (2,941.80) -20.0% 11,758.20 14,700.00 (2,941.80) 375,951.00 364,192.80 3%420000 Revenue-F&B Concession 500.00 500.00 - 0.0% 500.00 500.00 - 12,000.00 11,500.00 4%890000 Interest Income 9.84 - 9.84 0.0% 9.84 - 9.84 - (9.84) 0%Total Income109,293.04 114,252.00 (4,958.96) -4.3% 109,293.04 114,252.00 (4,958.96) 3,756,929.00 3,647,635.96 3%Cost of Goods Sold510000 COS-Golf Shop 6,115.42 7,802.00 (1,686.58) 21.6% 6,115.42 7,802.00 1,686.58 199,538.00 193,422.58 3%Total COS6,115.42 7,802.00 (1,686.58) 21.6% 6,115.42 7,802.00 1,686.58 199,538.00 193,422.58 3%Gross Profit103,177.62 106,450.00 (3,272.38) -3.1% 103,177.62 106,450.00 (3,272.38) 3,557,391.00 3,454,213.38 3%Expenses610000 Golf Pro Shop 21,541.76 20,878.00 (663.76) -3.2% 21,541.76 20,878.00 (663.76) 279,518.00 257,976.24 8%630000 Course Maintenance 136,242.08 136,416.00 173.92 0.1% 136,242.08 136,416.00 173.92 1,805,855.00 1,669,612.92 8%640000 Outside Services 20,752.32 19,861.00 (891.32) -4.5% 20,752.32 19,861.00 (891.32) 294,037.00 273,284.68 7%650000 Clubhouse 12,549.20 13,842.00 1,292.80 9.3% 12,549.20 13,842.00 1,292.80 168,104.00 155,554.80 7%660000 Marketing 12,748.15 10,138.00 (2,610.15) -25.7% 12,748.15 10,138.00 (2,610.15) 298,081.00 285,332.85 4%670000 General & Administrative 24,505.41 26,582.00 2,076.59 7.8% 24,505.41 26,582.00 2,076.59 333,834.00 309,328.59 7%680000 Leases 39,065.93 41,106.00 2,040.07 5.0% 39,065.93 41,106.00 2,040.07 493,272.00 454,206.07 8%690000 Miscellaneous Other Expense 34,043.45 35,215.00 1,171.55 3.3% 34,043.45 35,215.00 1,171.55 227,140.00 193,096.55 15%Total Expenses301,448.30 304,038.00 2,589.70 0.9% 301,448.30 304,038.00 2,589.70 3,899,841.00 3,598,392.70 8%Net Income (198,270.68) (197,588.00) (682.68) -0.3%(198,270.68) (197,588.00) (682.68) (342,450.00) (144,179.32) 58%Rounds of Golf PlayedPaid Rounds Played 2,357 2,100 257 12.2% 2,357 2,100 257 40,580 38,223 6%Ave $ Per Paid Round Green Fee 39.50 43.68 (4.18) -9.6% 39.50 43.68 (4.18) 77.90 38.40 51%Ave $ Per Paid Round Merchandise 4.99 7.00 (2.01) -28.7% 4.99 7.00 (2.01) 8.07 3.08 62%Ave $ Per Paid Miscellaneous 1.67 3.49 (1.83) -52.3% 1.67 3.49 (1.83) 2.06 - 0%Month to Date Year to DateJuly 2008SilverRock ResortSummary Operating Income Statement1 Income JulyFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4000000 Revenue-Fees 93,095.00 91,718.00 1,377.00 93,095.00 91,718.00 1,377.00 3,255,761.003,162,666.003%4010000 Rider Fee 375.00 2,079.00 (1,704.00) 375.00 2,079.00 (1,704.00) 5,984.005,609.006%4040000 Club Rental 1,280.00 1,155.00 125.00 1,280.00 1,155.00 125.00 27,583.0026,303.005%4050000 Driving Range 2,160.00 2,100.00 60.00 2,160.00 2,100.00 60.00 46,650.0044,490.005%4060000 Handicap Fees 115.00 - 115.00 115.00 - 115.00 8,000.00 7,885.001%4080000 GPS Advertising - 1,000.00 (1,000.00) - 1,000.00 (1,000.00) 12,000.00 12,000.000%4090000 Ball Retriever/Subcontract - 1,000.00 (1,000.00) - 1,000.00 (1,000.00) 4,000.00 4,000.000%4091000 Golf Professional Rental Fee - - - - - - 9,000.00 9,000.00 0%4092000 Golf Lessons - - - - - - - - 0% Total Revenue Fees 97,025.00 99,052.00 (2,027.00) 97,025.00 99,052.00 (2,027.00) 3,368,978.00 3,271,953.00 3%Total Income 97,025.00 99,052.00 (2,027.00) 97,025.00 99,052.00 (2,027.00) 3,368,978.00 3,271,953.00 3%Month to Date Year to Date Annual BudgetSilverRock ResortStatement of Fees RevenueJuly 20082 Income JulyFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4100000 Sales Miscellaneous 1,268.16 - 1,268.16 1,268.16 - 1,268.16 4100110 Sales Hard Goods 4,987.56 5,145.00 (157.44) 4,987.56 5,145.00 (157.44) 131,583.00 126,595.44 4%4100112 Sales-Soft Goods 7,490.14 9,555.00 (2,064.86) 7,490.14 9,555.00 (2,064.86) 244,368.00 236,877.86 3%5100639 GS-Discounts-Mdse (1,987.66) - (1,987.66) (1,987.66) - (1,987.66) - 1,987.66 0% Total Revenue Golf Shop 11,758.20 14,700.00 (2,941.80) 11,758.20 14,700.00 (2,941.80) 375,951.00 365,460.96 3%COS 5100150 COS-GS-Hard Goods 3,108.30 2,830.00 278.30 3,108.30 2,830.00 278.30 72,373.00 69,264.70 4%5100151 COS-GS-Soft Goods 3,007.12 5,255.00 (2,247.88) 3,007.12 5,255.00 (2,247.88) 134,404.00 131,396.88 2%5100152 COS-GS-Purchase Disc - (404.00) 404.00 - (404.00) 404.00 (10,341.00) (10,341.00) 0%5100220 COS-GS-Freight Merch - 121.00 (121.00) - 121.00 (121.00) 3,102.00 3,102.00 0%Cost of Sales - Golf Shop 6,115.42 7,802.00 (1,686.58) 6,115.42 7,802.00 (1,686.58) 199,538.00 193,422.58 3%Gross Profit 5,642.78 6,898.00 (1,255.22) 5,642.78 6,898.00 (1,255.22) 176,413.00 172,038.38 2%COS % 52.0% 53.1% 1.1% 52.0% 53.1% 1.1% 53.1% 52.9% 0%Expense61-PS-SALARIES & BENEFITS6101175 Employee Meals 360.00 360.00 - 360.00 360.00 - 5,400.00 5,040.00 7%6101320 Insurance Group 2,877.45 2,700.00 177.45 2,877.45 2,700.00 177.45 36,450.00 33,572.55 8%6101325 Insurance-Workers Comp 713.07 1,094.00 (380.93) 713.07 1,094.00 (380.93) 14,771.00 14,057.93 5%6101720 Salaries 6,308.99 6,082.00 226.99 6,308.99 6,082.00 226.99 71,459.00 65,150.01 9%6101800 Taxes-Employer Payroll 1,354.65 1,661.00 (306.35) 1,354.65 1,661.00 (306.35) 22,431.00 21,076.35 6%6101880 Wages-Hourly 7,824.48 7,261.00 563.48 7,824.48 7,261.00 563.48 108,712.00 100,887.52 7%6101882 Wages-Overtime 127.88 - 127.88 127.88 - 127.88 - 952.88 0%Total -PS-SALARIES & BENEFITS 19,566.52 19,158.00 408.52 19,566.52 19,158.00 408.52 259,223.00 240,737.24 7%61-PS OTHER EXPENSES6103742 Supplies-Expendable - - - - - - - - 0%6103762 Supplies-Office 949.00 300.00 649.00 949.00 300.00 649.00 2,950.00 2,001.00 32%6109090 Contract Services 500.00 500.00 - 500.00 500.00 - 6,000.00 5,500.00 8%6109220 Freight & Delivery 52.73 - 52.73 52.73 - 52.73 75.00 22.27 70%6109490 Miscellaneous - - - - - - 450.00 450.00 0%6109150 Dues and Subscriptions 51.53 - 51.53 51.53 - 51.53 2,000.00 1,948.47 3%6109500 ProShop-Over/Short (0.96) - (0.96) (0.96) - (0.96) 0.96 0%6109722 Seminars/Training 288.75 750.00 (461.25) 288.75 750.00 (461.25) 5,490.00 5,201.25 5%6109810 Travel - Merchandise - - - - - - 90.00 90.00 0%6109820 Uniforms - 100.00 (100.00) - 100.00 (100.00) 2,400.00 2,400.00 0%6117840 Telephones 134.19 70.00 64.19 134.19 70.00 64.19 840.00 705.81 0%Total PS-OTHER EXPENSES 1,975.24 1,720.00 255.24 1,975.24 1,720.00 255.24 20,295.00 18,319.76 10%Total Expenses21,541.76 20,878.00 663.76 21,541.76 20,878.00 663.76 279,518.00 259,057.00 7%Net Income(15,898.98) (13,980.00) (1,918.98) (15,898.98) (13,980.00) (1,918.98) (103,105.00) (87,018.62) -16%Month to Date Year to Date Annual BudgetSilverRock ResortGolf Shop Income StatementJuly 20083 JulyFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense63-CM-SALARIES & BENEFITS6311175 Employee Meals 240.00 240.00 - 240.00 240.00 - 2,880.00 2,640.00 91.7%6311320 Insurance-Group 13,271.66 12,083.00 1,188.66 13,271.66 12,083.00 1,188.66 144,996.00 131,724.34 90.8%6311325 Insurance-Workers Comp 3,004.75 4,841.00 (1,836.25) 3,004.75 4,841.00 (1,836.25) 59,020.00 56,015.25 94.9%6311720 Salaries 12,150.40 12,331.00 (180.60) 12,150.40 12,331.00 (180.60) 147,978.00 135,827.60 91.8%6311800 Taxes-Employer Payroll 6,331.16 7,350.00 (1,018.84) 6,331.16 7,350.00 (1,018.84) 90,311.00 83,979.84 93.0%6311880 Wages-Hourly 46,377.09 46,708.00 (330.91) 46,377.09 46,708.00 (330.91) 560,520.00 514,142.91 91.7%6311882 Wages-Overtime 1,567.48 - 1,567.48 1,567.48 - 1,567.48 16,894.00 15,326.52 90.7%Total-CM-SALARIES & BENEFITS82,942.54 83,553.00 (610.46) 82,942.54 83,553.00 (610.46) 1,022,599.00 939,656.46 91.9%63-CM-SUPPLIES & MATERIALS6313734 Chemicals 4,265.56 2,400.00 1,865.56 4,265.56 2,400.00 1,865.56 25,200.00 20,934.44 83.1%6313744 Fertilizer 6,671.45 5,500.00 1,171.45 6,671.45 5,500.00 1,171.45 95,200.00 88,528.55 93.0%6313746 Flowers/Plants - - - - - - 3,500.00 3,500.00 100.0%6313748 Fuel-Gasoline 3,670.54 3,740.00 (69.46) 3,670.54 3,740.00 (69.46) 45,540.00 41,869.46 91.9%6313750 Golf Course Accessories 92.31 200.00 (107.69) 92.31 200.00 (107.69) 7,000.00 6,907.69 98.7%6313756 POA Control 181.49 - 181.49 181.49 - 181.49 6,000.00 5,818.51 97.0%6313758 Miscellaneous Supp 811.13 100.00 711.13 811.13 100.00 711.13 - (811.13) 0.0%6313762 Supplies-Office 71.08 - 71.08 71.08 - 71.08 1,200.00 1,128.92 94.1%6313774 Sand - 390.00 (390.00) - 390.00 (390.00) 6,660.00 6,660.00 100.0%6313775 Sand-Bunkers - - - - - - 5,000.00 5,000.00 100.0%6313776 Seed - 350.00 (350.00) - 350.00 (350.00) 101,810.00 101,810.00 100.0%6313778 Small Tools & Non-Capital Equip - 100.00 (100.00) - 100.00 (100.00) 7,000.00 7,000.00 100.0%6313780 Sod 3,563.85 1,000.00 2,563.85 3,563.85 1,000.00 2,563.85 5,750.00 2,186.15 38.0%6313782 Topdressing 2,150.43 1,250.00 900.43 2,150.43 1,250.00 900.43 7,600.00 5,449.57 71.7%Total-CM-SUPPLIES & MATERIALS21,477.84 15,030.00 6,447.84 21,477.84 15,030.00 6,447.84 317,460.00 295,982.16 93.2%63-CM-REPAIRS & MAINTENANCE6315095 CM-R&M-Contract Lake Maint 746.00 1,500.00 (754.00) 746.00 1,500.00 (754.00) 16,000.00 15,254.00 95.3%6315685 CM-R&M-Bldngs & Othr Structures 121.00 - 121.00 121.00 - 121.00 500.00 379.00 75.8%6315690 CM-R&M-Equipment 3,754.25 4,400.00 (645.75) 3,754.25 4,400.00 (645.75) 46,100.00 42,345.75 91.9%6315692 CM-R&M-Irrigation System 2,313.21 1,500.00 813.21 2,313.21 1,500.00 813.21 15,450.00 13,136.79 85.0%6315696 CM-R&M-Pumps 77.00 1,000.00 (923.00) 77.00 1,000.00 (923.00) 10,500.00 10,423.00 99.3%6315815 CM-R&M-Trees-Pruning Etc - - - - - - 9,000.00 9,000.00 100.0%Total-CM-REPAIRS & MAINTENANCE 7,011.46 8,400.00 (1,388.54) 7,011.46 8,400.00 (1,388.54) 97,550.00 90,538.54 92.8%63-CM-UTILTIES6317830 Utilities-Electricity-Bldngs - - - - - - - - 0.0%6317836 Utilities-Natural Gas/LPG - 150.00 (150.00) - 150.00 (150.00) 1,800.00 1,800.00 0.0%6317840 Telephones 839.96 800.00 39.96 839.96 800.00 39.96 9,600.00 8,760.04 91.3%Total-CM-UTILITIES 839.96 950.00 (110.04) 839.96 950.00 (110.04) 11,400.00 10,560.04 92.6%63-CM-OTHER EXPENSES6319020 Auto Mileage/Allowance 500.00 500.00 - 500.00 500.00 - 6,000.00 5,500.00 91.7%6319100 Contract Svcs-Soil/Tissue Test - - - - - - 4,000.00 4,000.00 100.0%6319101 Contract Svcs-Trash Removal 386.91 - 386.91 386.91 - 386.91 - (386.91) 0.0%6319150 Dues & Subscriptions - 200.00 (200.00) - 200.00 (200.00) 900.00 900.00 100.0%6319170 Employee Education - 50.00 (50.00) - 50.00 (50.00) 600.00 600.00 100.0%6319197 Equipment Rental - 200.00 (200.00) - 200.00 (200.00) 4,200.00 4,200.00 100.0%6319206 Licenses & Permits - 100.00 (100.00) - 100.00 (100.00) 1,600.00 1,600.00 100.0%6319490 Miscellaneous - 100.00 (100.00) - 100.00 (100.00) 1,200.00 1,200.00 100.0%6319718 Safety Equipment & Training 155.30 100.00 55.30 155.30 100.00 55.30 3,400.00 3,244.70 95.4%6319822 Uniforms 534.03 820.00 (285.97) 534.03 820.00 (285.97) 9,840.00 9,305.97 94.6%Total-CM-OTHER EXPENSES 1,576.24 2,070.00 (493.76) 1,576.24 2,070.00 (493.76) 31,740.00 30,163.76 95.0%Month to Date Year to DateSilverRock ResortCourse Maintenance Expense StatementJuly 2008Annual Budget4 JulyFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget632-CM-LANDSCAPE MAINTENANCE632-CM-LM-SALARIES & BENEFITS6321320 Insurance-Group 1,104.00 1,104.00 - 1,104.00 1,104.00 - 13,248.00 12,144.00 91.7%6321325 Insurance-Workers Comp 774.98 1,078.00 (303.02) 774.98 1,078.00 (303.02) 13,257.00 12,482.02 94.2%6321800 Taxes-Employer Payroll 1,185.71 1,636.00 (450.29) 1,185.71 1,636.00 (450.29) 20,368.00 19,182.29 94.2%6321880 Wages-Hourly 15,185.01 13,141.00 2,044.01 15,185.01 13,141.00 2,044.01 157,692.00 142,506.99 90.4%6321882 Wages-Overtime 314.46 - 314.46 314.46 - 314.46 5,915.00 5,600.54 94.7%Total-CM-LM-SALARIES & BENEFITS18,564.16 16,959.00 1,605.16 18,564.16 16,959.00 1,605.16 210,480.00 191,915.84 91.2%632-CM-LM-SUPPLIES & MATERIALS6323778 Small Tools - 100.00 (100.00) - 100.00 (100.00) 1,025.00 1,025.00 100.0%6323788 Uniforms 229.62 290.00 (60.38) 229.62 290.00 (60.38) 3,480.00 3,250.38 93.4%Total-CM-LM-SUPPLIES & MATERIALS229.62 390.00 (160.38) 229.62 390.00 (160.38) 4,505.00 4,275.38 94.9%632-CM-LM-REPAIRS & MAINTENANCE6325687 CM-LM-R&M-Drip Irrigation - 250.00 (250.00) - 250.00 (250.00) 4,250.00 4,250.00 100.0%Total-CM-LM-REPAIRS & MAINTENANCE - 250.00 (250.00) - 250.00 (250.00) 4,250.00 4,250.00 100.0%632-CM-WATER & ENERGY6337834 Utilities-Electricity-Pumping - 7,000.00 (7,000.00) - 7,000.00 (7,000.00) 84,000.00 84,000.00 100.0%6337842 Utilities-Water3,600.26 1,814.00 1,786.26 3,600.26 1,814.00 1,786.26 21,871.00 18,270.74 83.5%Total-CM-WATER & ENERGY3,600.26 8,814.00 (5,213.74) 3,600.26 8,814.00 (5,213.74) 105,871.00 102,270.74 96.6%136,242.08 136,416.00 (173.92) 136,242.08 136,416.00 (173.92) 1,805,855.00 1,669,612.92 92.5%Total -COURSE MAINTENANCEMonth to Date Year to DateSilverrock ResortCourse Maintenance Expense StatementJuly 2008Annual Budget5 JulyFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense641-CBR-SALARIES & BENEFITS6411175 Employee Meals 420.00 420.00 - 420.00 420.00 - 6,180.00 5,760.00 93.2%6411320 Insurance-Group 60.25 720.00 (659.75) 60.25 720.00 (659.75) 8,640.00 8,579.75 99.3%6411325 Insurance-Workers Comp 465.46 1,303.00 (837.54) 465.46 1,303.00 (837.54) 16,511.00 16,045.54 97.2%6411800 Taxes-Employer Payroll 1,003.67 1,130.00 (126.33) 1,003.67 1,130.00 (126.33) 14,318.00 13,314.33 93.0%6411880 Wages-Hourly 9,284.02 9,075.00 209.02 9,284.02 9,075.00 209.02 114,990.00 105,705.98 91.9%6411882 Wages-Overtime 25.12 - 25.12 25.12 - 25.12 - (25.12) 0.0%Total-CBR-SALARIES & BENEFITS11,258.52 12,648.00 (1,389.48) 11,258.52 12,648.00 (1,389.48) 160,639.00 149,380.48 93.0%641-CBR-SUPPLIES & MATERIALS6413732 Supplies-Carts 94.55 - 94.55 94.55 - 94.55 2,350.00 2,255.45 96.0%6413742 Supplies-Expendable 433.72 150.00 283.72 433.72 150.00 283.72 5,850.00 5,416.28 92.6%6413752 Supplies-Range Balls - - - - - - 6,000.00 6,000.00 100.0%6413762 Supplies-Office - 25.00 (25.00) - 25.00 (25.00) 525.00 525.00 100.0%6413768 Supplies-Printing and Stationary - - - - - - 420.00 420.00 100.0%6413786 Supplies-Towels 354.27 72.00 282.27 354.27 72.00 282.27 2,292.00 1,937.73 84.5%6413796 Supplies-Bottled Water1,404.59 1,800.00 (395.41) 1,404.59 1,800.00 (395.41) 23,950.00 22,545.41 94.1%Total-CBR-SUPPLIES & MATERIALS2,287.13 2,047.00 240.13 2,287.13 2,047.00 240.13 41,387.00 39,099.87 94.5%641-CBR-REPAIRS & MAINTENANCE6415096 CBR-R&M-Contract Services-Carts 795.00 720.00 75.00 795.00 720.00 75.00 8,640.00 7,845.00 90.8%6415690 CBR-R&M-Equipment - 125.00 (125.00) - 125.00 (125.00) 1,500.00 1,500.00 100.0%6415695 CBR-R&M-Cart Maintenance & Repair 1,431.23 500.00 931.23 1,431.23 500.00 931.23 4,000.00 2,568.77 64.2%Total-CBR-REPAIRS & MAINTENANCE 2,226.23 1,345.00 881.23 2,226.23 1,345.00 881.23 14,140.00 11,913.77 84.3%641-CBR-OTHER EXPENSES6419093 Contract Services-Handicaps 1,455.00 100.00 1,355.00 1,455.00 100.00 1,355.00 5,000.00 3,545.00 70.9%6419094 Contract Services-Laundry/Linen - 500.00 (500.00) - 500.00 (500.00) 6,000.00 6,000.00 100.0%6419220 Freight/Delivery - 75.00 (75.00) - 75.00 (75.00) 900.00 900.00 100.0%6419490 Miscellaneous - 125.00 (125.00) - 125.00 (125.00) 1,150.00 1,150.00 100.0%6419820 Uniforms - - - - - - 5,625.00 5,625.00 100.0%Total-CBR-OTHER EXPENSES 1,455.00 800.00 655.00 1,455.00 800.00 655.00 18,675.00 17,220.00 92.2%TOTAL-CARTS,BAGROOM & RANGE 17,226.88 16,840.00 386.88 17,226.88 16,840.00 386.88 234,841.00 217,614.12 92.7%643-CS-SALARIES & BENEFITS6431175 Employee Meals 240.00 240.00 - 240.00 240.00 - 4,860.00 4,620.00 95.1%6431325 Insurance-Workers Comp 123.20 177.00 (53.80) 123.20 177.00 (53.80) 3,446.00 3,322.80 96.4%6431800 Taxes-Employer Payroll 459.16 269.00 190.16 459.16 269.00 190.16 5,220.00 4,760.84 91.2%6431880 Wages-Hourly 2,464.00 2,160.00 304.00 2,464.00 2,160.00 304.00 41,920.00 39,456.00 94.1%6431882 Wages-Overtime - - - - - - - - 0.0%Total-CS-SALARIES & BENEFITS3,286.36 2,846.00 440.36 3,286.36 2,846.00 440.36 55,446.00 52,159.64 94.1%643-CS-OTHER EXPENSES6433742 Supplies Expendable 239.08 50.00 189.08 239.08 50.00 189.08 1,050.00 810.92 77.2%6439490 Miscellaneous - - - - - - 200.00 200.00 100.0%6439718 Safety Equipment & Training - 50.00 (50.00) - 50.00 (50.00) 600.00 600.00 100.0%6439820 Uniforms - 75.00 (75.00) - 75.00 (75.00) 1,900.00 1,900.00 100.0%Total-CS-OTHER EXPENSES 239.08 175.00 64.08 239.08 175.00 64.08 3,750.00 3,510.92 93.6%Total-COURSE SERVICES 3,525.44 3,021.00 504.44 3,525.44 3,021.00 504.44 59,196.00 55,670.56 94.0%TOTAL OUTSIDE SERVICES 20,752.32 19,861.00 891.32 20,752.32 19,861.00 891.32 294,037.00 269,773.76 91.7%Month to Date Year to DateSilverRock ResortOutside Services Expense StatementJuly 2008Annual Budget6 JulyFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense65-CH-SUPPLIES & MATERIALS6503742 Supplies-Expendable235.94 400.00 (164.06) 235.94 400.00 (164.06) 4,800.00 4,564.06 95.1%Total-CH-SUPPLIES & MATERIALS 235.94 400.00 (164.06) 235.94 400.00 (164.06) 4,800.00 4,564.06 95.1%65-CH-UTILITIES6507836 Utilities-Natural Gas- 300.00 (300.00) - 300.00 (300.00) 3,600.00 3,600.00 100.0%6507838 Utilities-Sewer- 200.00 (200.00) - 200.00 (200.00) 2,400.00 2,400.00 100.0%6507840 Utilities-Telephone1,156.78 1,000.00 156.78 1,156.78 1,000.00 156.78 12,000.00 10,843.22 90.4%6507842 Utilities-Water231.81 200.00 31.81 231.81 200.00 31.81 2,400.00 2,168.19 90.3%6507844 Utilities-Cable208.43 317.00 (108.57) 208.43 317.00 (108.57) 3,804.00 3,595.57 94.5%Total-CH-UTILITIES 1,597.02 2,017.00 (419.98) 1,597.02 2,017.00 (419.98) 24,204.00 22,606.98 93.4%65-CH-OTHER EXPENSES6509091 Contract Services-Cleaning1,825.00 1,825.00 - 1,825.00 1,825.00 - 22,500.00 20,675.00 91.9%6509099 Contract Services-Security8,267.76 8,200.00 67.76 8,267.76 8,200.00 67.76 98,400.00 90,132.24 91.6%6509215 Flowers & Decorations- 100.00 (100.00) - 100.00 (100.00) 2,600.00 2,600.00 100.0%6509490 Miscellaneous- 200.00 (200.00) - 200.00 (200.00) 2,400.00 2,400.00 100.0%6509718 Safety Equipment & Training- 100.00 (100.00) - 100.00 (100.00) 1,200.00 1,200.00 100.0%Total-CH-OTHER EXPENSES 10,716.24 10,425.00 291.24 10,716.24 10,425.00 291.24 127,100.00 116,383.76 91.6%65-CH-REPAIRS & MAINTENANCE6515685 CH-R&M-Building Structures- 200.00 (200.00) - 200.00 (200.00) 2,400.00 2,400.00 100.0%6515686 CH-R&M-Restaurant Repairs- 400.00 (400.00) - 400.00 (400.00) 4,800.00 4,800.00 100.0%6515690 CH-R&M-Equipment Repair- 400.00 (400.00) - 400.00 (400.00) 4,800.00 4,800.00 100.0%Total-CH-REPAIRS & MAINTENANCE - 1,000.00 (1,000.00) - 1,000.00 (1,000.00) 12,000.00 12,000.00 100.0%Total CLUBHOUSE 12,549.20 13,842.00 (1,292.80) 12,549.20 13,842.00 (1,292.80) 168,104.00 24,000.00 14.3%Month to Date Year to DateSilverRock ResortClubhouse Expense StatementJuly 2008Annual Budget7 JulyFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense66-MKT-SALARIES & BENEFITS6601175 Employee Meals 60.00 60.00 - 60.00 60.00 - 720.00 660.00 91.7%6601320 Insurance-Group 411.00 450.00 (39.00) 411.00 450.00 (39.00) 5,400.00 4,989.00 92.4%6601325 Insurance-Workers Comp 125.00 205.00 (80.00) 125.00 205.00 (80.00) 2,460.00 2,335.00 94.9%6601720 Salaries 2,500.00 2,500.00 - 2,500.00 2,500.00 - 30,000.00 27,500.00 91.7%6601800 Taxes-Employer Payroll 311.00 311.00 - 311.00 311.00 - 3,732.00 3,421.00 91.7%Total-MKT-SALARIES & BENEFITS 3,407.00 3,526.00 (119.00) 3,407.00 3,526.00 (119.00) 42,312.00 38,905.00 91.9%66-MKT-SUPPLIES & MATERIALS6603762 Supplies-Office - 100.00 (100.00) - 100.00 (100.00) 1,200.00 1,200.00 100.0%6603768 Supplies-Printing & Stationery - - - - - - 4,425.00 4,425.00 100.0%- 100.00 (100.00) - 100.00 (100.00) 5,625.00 5,625.00 100.0%66-MKT-UTILITIES6607840 Utilities-Telephone 36.95 100.00 (63.05) 36.95 100.00 (63.05) 1,200.00 1,163.05 96.9%Total-MKT-UTILITIES 36.95 100.00 (63.05) 36.95 100.00 (63.05) 1,200.00 1,163.05 96.9%66-MKT-OTHER EXPENSES6609010 Advertising 8,933.49 6,087.00 2,846.49 8,933.49 6,087.00 2,846.49 225,134.00 216,200.51 96.0%6609040 Business Meals - 25.00 (25.00) - 25.00 (25.00) 300.00 300.00 100.0%6609080 Collateral Material - - - - - - 9,000.00 9,000.00 100.0%6609102 Contract Services-Web Page 99.00 175.00 (76.00) 99.00 175.00 (76.00) 2,100.00 2,001.00 95.3%6609490 Miscellaneous - - - - - - 350.00 350.00 100.0%6609620 Postage - 50.00 (50.00) - 50.00 (50.00) 600.00 600.00 100.0%6609630 Promotion - - - - - - 6,500.00 6,500.00 0.0%6609633 Promotion-Community - 75.00 (75.00) - 75.00 (75.00) 2,925.00 2,925.00 100.0%6609634 Promotion-Media/Vendor - - - - - - 700.00 - 0.0%6609150 Dues and Subscriptions 271.71 - 271.71 271.71 - 271.71 735.00 463.29 63.0%6609820 Uniforms - - - - - - 600.00 600.00 100.0%Total-MKT-OTHER EXPENSES 9,304.20 6,412.00 2,892.20 9,304.20 6,412.00 2,892.20 248,944.00 238,939.80 96.0%Total-MARKETING 12,748.15 10,138.00 2,610.15 12,748.15 10,138.00 2,610.15 298,081.00 284,632.85 95.5%Month to Date Year to DateSilverRock ResortMarketing Expense StatementJuly 2008Annual Budget8 JulyFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense67-G&A-SALARIES & BENEFITS6701175 Employee Meals 180.00 180.00 - 180.00 180.00 - 2,160.00 1,980.00 91.7%6701320 Insurance-Group1,834.10 2,250.00 (415.90) 1,834.10 2,250.00 (415.90) 27,000.00 25,165.90 93.2%6701325 Insurance-Workers Comp848.67 1,406.00 (557.33) 848.67 1,406.00 (557.33) 16,872.00 16,023.33 95.0%6701720 Salaries 14,454.98 14,416.00 38.98 14,454.98 14,416.00 38.98 172,992.00 158,537.02 91.6%6701800 Taxes-Employer Payroll 1,742.14 2,135.00 (392.86) 1,742.14 2,135.00 (392.86) 25,620.00 23,877.86 93.2%6701880 Wages-Hourly2,518.28 2,730.00 (211.72) 2,518.28 2,730.00 (211.72) 32,760.00 30,241.72 92.3%6701882 Wages-Overtime - - - - - - - - 0.0%Total-G&A-SALARIES & BENEFITS 21,578.17 23,117.00 (1,538.83) 21,578.17 23,117.00 (1,538.83) 277,404.00 255,825.83 92.2%67-G&A-SUPPLIES & MATERIALS6703740 Supplies-Computer70.24 800.00 (729.76) 70.24 800.00 (729.76) 10,800.00 10,729.76 99.3%6703762 Supplies-Office 239.08 125.00 114.08 239.08 125.00 114.08 1,500.00 1,260.92 84.1%6703768 Supplies-Printing & Stationery82.02 - 82.02 82.02 - 82.02 3,200.00 3,117.98 97.4%6703778Supplies-Small Tools/Non-Capital - - - - - - 900.00 900.00 100.0%Total-G&A-SUPPLIES & MATERIALS 391.34 925.00 (533.66) 391.34 925.00 (533.66) 16,400.00 16,008.66 97.6%67-G&A-REPAIRS & MAINTENANCE6705690 Repairs & Maintenance-Equipment127.22 100.00 27.22 127.22 100.00 27.22 1,200.00 1,072.78 89.4%Total-G&A-REPAIRS & MAINTENANCE 127.22 100.00 27.22 127.22 100.00 27.22 1,200.00 1,072.78 89.4%67-G&A-OTHER EXPENSES6709020 Auto/Mileage Allowance400.00 400.00 - 400.00 400.00 - 4,800.00 4,400.00 91.7%6709090 Contract Services- - - - - - - - 0.0%6709150 Dues & Subscriptions- 50.00 (50.00) - 50.00 (50.00) 1,500.00 1,500.00 100.0%6709180 Employee Recruiting/Relocation- - - - - - 4,600.00 4,600.00 100.0%6709197 Equipment Rental205.03 350.00 (144.97) 205.03 350.00 (144.97) 4,200.00 3,994.97 95.1%6709202 Fees-Bank10.00 90.00 (80.00) 10.00 90.00 (80.00) 1,080.00 1,070.00 99.1%6709208 Fees-Payroll Processing805.53 550.00 255.53 805.53 550.00 255.53 6,600.00 5,794.47 87.8%6709220 Freight/Delivery- 50.00 (50.00) - 50.00 (50.00) 600.00 600.00 100.0%6709490 Miscellaneous - 100.00 (100.00) - 100.00 (100.00) 1,200.00 1,200.00 100.0%6709491 Loss/Damage- - - - - - - 0.0%6709620 Postage/Mail Services 257.45 75.00 182.45 257.45 75.00 182.45 900.00 642.55 71.4%6709625 Professional Fees730.67 400.00 330.67 730.67 400.00 330.67 4,800.00 4,069.33 84.8%6709636 Promotion/Entertainment- 100.00 (100.00) - 100.00 (100.00) 4,000.00 4,000.00 100.0%6709722 Seminars & Training- 200.00 (200.00) - 200.00 (200.00) 2,400.00 2,400.00 100.0%6709810 Travel - - - - - - 1,100.00 1,100.00 100.0%6709820 Uniforms - 75.00 (75.00) - 75.00 (75.00) 1,050.00 1,050.00 100.0%Total-G&A-OTHER EXPENSES 2,408.68 2,440.00 (31.32) 2,408.68 2,440.00 (31.32) 38,830.00 36,421.32 93.8%Total-GENERAL & ADMINISTRATIVE24,505.41 26,582.00 (2,076.59) 24,505.41 26,582.00 (2,076.59) 333,834.00 309,328.59 92.7%Month to Date Year to DateSilverRock ResortGeneral & Administrative Expense StatementJuly 2008Annual Budget9 JulyFinal Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense68-LEASES6800192 Equipment Leases-Carts 11,581.04 11,581.00 0.04 11,581.04 11,581.00 0.04 138,972.00 127,390.96 91.7%6800193 Equipment Leases-Course Maint 16,244.12 20,000.00 (3,755.88) 16,244.12 20,000.00 (3,755.88) 240,000.00 223,755.88 93.2%6800194 Equipment Leases-Trailer 357.00 600.00 (243.00) 357.00 600.00 (243.00) 7,200.00 6,843.00 95.0%6800195 Equipment Leases-Software 1,791.93 1,525.00 266.93 1,791.93 1,525.00 266.93 18,300.00 16,508.07 90.2%6800196 Equipment Leases-GPS 6,840.14 7,400.00 (559.86) 6,840.14 7,400.00 (559.86) 88,800.00 81,959.86 92.3%6800197 Equipment Leases-Others 2,251.70 - 2,251.70 2,251.70 - 2,251.70 - - 0.0%Total-LEASES 39,065.93 41,106.00 (2,040.07) 39,065.93 41,106.00 (2,040.07) 493,272.00 456,457.77 92.5%69-MISC OTHER EXPENSES6900096 Contract Srvcs-Management Fee 23,490.72 29,430.00 (5,939.28) 23,490.72 29,430.00 (5,939.28) 90,000.00 66,509.28 73.9%6900210 FF&E Reserve 2,185.86 2,285.00 (99.14) 2,185.86 2,285.00 (99.14) 75,140.00 72,954.14 97.1%6900800 Personal Property Taxes 8,366.87 - 8,366.87 8,366.87 - 8,366.87 20,000.00 11,633.13 58.2%6900323 Insurance-Commercial - 3,500.00 (3,500.00) - 3,500.00 (3,500.00) 42,000.00 42,000.00 100.0%Total-MISC OTHER EXPENSES34,043.45 35,215.00 (1,171.55) 34,043.45 35,215.00 (1,171.55) 227,140.00 193,096.55 85.0%Annual BudgetMonth to Date Year to Date Operating Leases & Miscellaneous Other Expense StatementJuly 200810 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report-2008-20092008 2008 2008 2008 2008 2008Comp CategoryJulyAugustSeptemberOctoberNovemberDecemberMedia6SalesPromotionGolf Industry11VIPCelebrityPGA Comp82Charity/Gift Certificate14Rain/Wind Checks6Club Staff137LQ HS Golf256000002009 2009 2009 2009 2009 2009Comp CategoryJanuaryFebruaryMarchAprilMayJuneMediaSalesPromotionGolf IndustryVIPCelebrityPGA CompCharity/Gift CertificateRain/Wind ChecksClub StaffLQ HS Golf00000011 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report-2008-2009July 2008Date Time Description CategoryPlayers7/6/2008 10:00 Kris Long - CBS2 Media 27/12/2008 9:37 John White - KESQMedia 412