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09 March 2010 SilverRock Resort - Monthly Financial Statement
Monthly Financial Statements July 2009 – March 2010 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 March Final Budget Variance Percentages Unfavorable (-) Favorable (+) Final Budget Variance Annual Budget Unemcumb. % Bdgt Income400000 Golf Green Fee Revenue 555,615.92 536,200.00 19,415.92 3.6% 2,258,437.83 2,121,456.00 136,981.83 2,980,503.00 722,065.17 76%401000 Miscellaneous Golf Revenue 22,997.75 17,560.00 5,437.75 31.0% 114,453.28 88,070.00 26,383.28 109,297.00 (5,156.28) 105%410000 Revenue-Golf Shop 45,951.35 56,000.00 (10,048.65) -17.9% 217,389.29 235,702.00 (18,312.71) 325,551.00 108,161.71 67%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 4.12 - 4.12 0.0% 44.93 - 44.93 - (44.93) 0%Total Income626,069.14 611,260.00 14,809.14 2.4% 2,600,825.33 2,455,728.00 145,097.33 3,427,351.00 826,525.67 76%Cost of Goods Sold510000 COS-Golf Shop 25,644.38 29,722.00 (4,077.62) 13.7% 122,388.92 125,098.10 2,709.18 172,786.05 50,397.13 71%Total COS25,644.38 29,722.00 (4,077.62) 13.7% 122,388.92 125,098.10 2,709.18 172,786.05 50,397.13 71%Gross Profit600,424.76 581,538.00 18,886.76 3.2% 2,478,436.41 2,330,629.90 147,806.51 3,254,564.95 776,128.54 76%Expenses610000 Golf Pro Shop 21,119.49 21,726.00 606.51 2.8% 151,375.52 179,052.00 27,676.48 243,485.00 92,109.48 62%630000 Course Maintenance 114,002.41 113,495.00 (507.41) -0.4% 1,190,502.25 1,246,997.00 56,494.75 1,594,579.00 404,076.75 75%633000 Maintenance Water & Energy 4,282.89 7,504.00 3,221.11 42.9% 48,361.73 66,894.00 18,532.27 86,871.00 38,509.27 56%640000 Outside Services 34,861.06 27,397.00 (7,464.06) -27.2% 226,678.12 215,222.00 (11,456.12) 277,000.00 50,321.88 82%650000 Clubhouse 9,670.39 9,742.00 71.61 0.7% 98,536.05 89,678.00 (8,858.05) 118,900.00 20,363.95 83%660000 Marketing 24,871.58 26,072.00 1,200.42 4.6% 182,457.13 208,743.00 26,285.87 256,759.00 74,301.87 71%670000 General & Administrative24,275.76 26,112.00 1,836.24 7.0% 204,785.75 237,408.00 32,622.25 316,394.00 111,608.25 65%680000 Leases 19,446.94 34,581.00 15,134.06 43.8% 279,671.19 328,461.00 48,789.81 432,204.00 152,532.81 65%690000 Miscellaneous Other Expense 1,481.72 4,134.00 2,652.28 64.2% 143,955.51 165,874.00 21,918.49 211,610.00 67,654.49 68%Total Expenses254,012.24 270,763.00 16,750.76 6.2% 2,526,323.25 2,738,329.00 212,005.75 3,537,802.00 1,011,478.75 71%346,412.52 310,775.00 35,637.52 11.5%(47,886.84) (407,699.10) 359,812.26 (283,237.05) (235,350.21) 17%Rounds of Golf PlayedPaid Rounds Played 5,937 5,600 337 6.0% 30,941 27,800 3,141 39,150 8,209 79%Ave $ Per Paid Round Green Fee 93.59 95.75 (2.16) -2.3% 72.99 76.31 (3.32) 76.13 3.14 96%Ave $ Per Paid Round Merchandise 7.74 10.00 (2.26) -22.6% 7.03 8.48 (1.45) 8.07 1.04 87%Ave $ Per Paid Miscellaneous 3.87 3.14 0.74 23.5% 3.70 3.17 0.53 2.06 - 0%SilverRock ResortSummary Operating Income StatementNet IncomeMonth to Date Year to DateMarch 20101 Income March Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4000000 Revenue-Fees 555,615.92 536,200.00 19,415.92 2,258,437.83 2,121,456.00 136,981.83 2,980,503.00722,065.1776%4010000 Rider Fee 675.00 560.00 115.00 7,000.00 4,694.00 2,306.00 5,829.00-1,171.00120%4040000 Club Rental 2,425.00 5,600.00 (3,175.00) 14,775.00 19,926.00 (5,151.00) 26,168.0011,393.0056%4050000 Driving Range 13,039.00 8,400.00 4,639.00 52,739.00 32,950.00 19,789.00 44,300.00-8,439.00119%4060000 Handicap Fees 400.00 500.00 (100.00) 8,255.00 8,000.00 255.00 8,000.00 -255.00103%4080000 GPS Advertising - 1,000.00 (1,000.00) 1,500.00 12,000.00 (10,500.00) 12,000.00 10,500.0013%4090000 Ball Retriever/Subcontract - - - 3,587.28 3,000.00 587.28 4,000.00 412.7290%4091000 Golf Professional Rental Fee 5,500.00 1,500.00 4,000.00 24,775.00 7,500.00 17,275.00 9,000.00 -15,775.00 275%4092000 Golf Lessons 958.75 - 958.75 1,822.00 - 1,822.00 - (1,822.00) 0% Total Revenue Fees 578,613.67 553,760.00 24,853.67 2,372,891.11 2,209,526.00 163,365.11 3,089,800.00 716,908.89 77%578,613.67 553,760.00 24,853.67 2,372,891.11 2,209,526.00 163,365.11 3,089,800.00 716,908.89 77%SilverRock ResortStatement of Fees RevenueMarch 2010Total IncomeMonth to Date Year to Date Annual Budget2 Income March Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4100000 Sales Miscellaneous 339.83 - 339.83 3,450.34 - 3,450.34 0 04100110 Sales Hard Goods 16,518.65 19,600.00 (3,081.35) 82,423.32 82,496.00 (72.68) 113,943.00 31,519.68 72%4100112 Sales-Soft Goods 35,588.00 36,400.00 (812.00) 162,459.91 153,206.00 9,253.91 211,608.00 49,148.09 77%5100639 GS-Discounts-Mdse (6,495.13) - (6,495.13) (30,944.28) - (30,944.28) - 30,944.28 0% Total Revenue Golf Shop 45,951.35 56,000.00 (10,048.65) 217,389.29 235,702.00 (18,312.71) 325,551.00 111,612.05 66%COS 5100150 COS-GS-Hard Goods 7,768.74 10,780.00 (3,011.26) 38,317.80 45,372.80 (7,055.00) 62,668.65 24,350.85 61%5100151 COS-GS-Soft Goods 17,604.90 20,020.00 (2,415.10) 80,589.12 84,263.30 (3,674.18) 116,384.40 35,795.28 69%5100152 COS-GS-Purchase Disc (3.36) (1,540.00) 1,536.64 (480.59) (6,484.00) 6,003.41 (8,953.00) (8,472.41) -5%5100220 COS-GS-Freight Merch 274.10 462.00 (187.90) 3,962.59 1,946.00 2,016.59 2,686.00 (1,276.59) 148%Cost of Sales - Golf Shop 25,644.38 29,722.00 (4,077.62) 122,388.92 125,098.10 (2,709.18) 172,786.05 50,397.13 71%Gross Profit 20,306.97 26,278.00 (5,971.03) 95,000.37 110,603.90 (15,603.53) 152,764.95 61,214.92 60%COS % 55.8% 53.1% -2.7% 56.3% 53.1% -3.2% 53.1% 45.2% 15%Expense61-PS-SALARIES & BENEFITS6101175 Employee Meals 480.00 480.00 - 4,020.00 4,020.00 - 5,400.00 1,380.00 74%6101320 Insurance Group 2,317.00 2,317.00 - 19,638.37 19,860.00 (221.63) 26,811.00 7,172.63 73%6101325 Insurance-Workers Comp 478.16 863.00 (384.84) 3,881.93 6,819.00 (2,937.07) 9,229.00 5,347.07 42%6101720 Salaries 4,018.19 3,582.00 436.19 33,090.96 32,238.00 852.96 20,796.00 (12,294.96) 159%6101800 Taxes-Employer Payroll 1,787.41 1,882.00 (94.59) 10,847.39 14,868.00 (4,020.61) 20,123.00 9,275.61 54%6101880 Wages-Hourly 9,567.63 11,532.00 (1,964.37) 64,937.67 87,177.00 (22,239.33) 140,831.00 75,893.33 46%6101882 Wages-Overtime 75.76 - 75.76 1,015.81 - 1,015.81 - 952.88 0%Total -PS-SALARIES & BENEFITS 18,724.15 20,656.00 (1,931.85) 137,432.13 164,982.00 (27,549.87) 223,190.00 87,726.56 61%61-PS OTHER EXPENSES6103762 Supplies-Office 231.61 200.00 31.61 2,042.94 2,550.00 (507.06) 2,950.00 907.06 69%6109090 Contract Services 500.00 500.00 - 4,500.00 4,500.00 - 6,000.00 1,500.00 75%6109220 Freight & Delivery 170.23 - 170.23 689.10 75.00 614.10 75.00 (614.10) 919%6109490 Miscellaneous - 50.00 (50.00) 197.87 300.00 (102.13) 450.00 252.13 44%6109150 Dues and Subscriptions - - - - - - 2,000.00 2,000.00 0%6109500 ProShop-Over/Short (14.61) - (14.61) 6.43 - 6.43 - (6.43) 0%6109722 Seminars/Training 1,000.00 35.00 965.00 1,206.00 4,170.00 (2,964.00) 5,490.00 4,284.00 22%6109810 Travel - Merchandise - 15.00 (15.00) - 45.00 (45.00) 90.00 90.00 0%6109820 Uniforms - 200.00 (200.00) 2,308.81 1,800.00 508.81 2,400.00 91.19 96%6117840 Telephones 133.85 70.00 63.85 2,003.78 630.00 1,373.78 840.00 (1,163.78) 0%Total PS-OTHER EXPENSES 2,395.34 1,070.00 1,325.34 13,943.39 14,070.00 (126.61) 20,295.00 6,351.61 69%21,119.49 21,726.00 (606.51) 151,375.52 179,052.00 (27,676.48) 243,485.00 94,078.17 61%Net Income(812.52) 4,552.00 (5,364.52) (56,375.15) (68,448.10) 12,072.95 (90,720.05) (32,863.25) -64%SilverRock ResortGolf Shop Income StatementMarch 2010Total Expenses-Golf ShopMonth to Date Year to Date Annual Budget3 March Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense63-CM-SALARIES & BENEFITS6311175 Employee Meals 240.00 240.00 - 2,100.00 2,160.00 (60.00) 2,880.00 780.00 27.1%6311320 Insurance-Group 8,740.00 8,740.00 - 79,668.62 78,660.00 1,008.62 104,880.00 25,211.38 24.0%6311325 Insurance-Workers Comp 2,103.70 3,226.00 (1,122.30) 19,905.77 29,544.00 (9,638.23) 39,329.00 19,423.23 49.4%6311720 Salaries 12,468.48 12,331.00 137.48 102,681.60 110,979.00 (8,297.40) 147,972.00 45,290.40 30.6%6311800 Taxes-Employer Payroll 7,031.56 7,034.00 (2.44) 48,708.51 64,970.00 (16,261.49) 86,420.00 37,711.49 43.6%6311880 Wages-Hourly 47,520.37 44,159.00 3,361.37 389,156.00 397,431.00 (8,275.00) 529,928.00 140,772.00 26.6%6311882 Wages-Overtime 116.94 - 116.94 10,364.90 13,426.00 (3,061.10) 16,234.00 5,869.10 36.2%Total-CM-SALARIES & BENEFITS78,221.05 75,730.00 2,491.05 652,585.40 697,170.00 (44,584.60) 927,643.00 275,057.60 29.7%63-CM-SUPPLIES & MATERIALS6313734 Chemicals 754.00 1,500.00 (746.00) 25,660.75 24,400.00 1,260.75 29,300.00 3,639.25 12.4%6313744 Fertilizer 4,544.18 5,000.00 (455.82) 90,209.49 77,200.00 13,009.49 92,200.00 1,990.51 2.2%6313745 Herbicides - - - 6,347.99 10,000.00 (3,652.01) 10,000.00 3,652.01 36.5%6313746 Flowers/Plants - 100.00 (100.00) 1,778.05 3,400.00 (1,621.95) 3,500.00 1,721.95 49.2%6313748 Fuel-Gasoline 2,942.23 3,100.00 (157.77) 32,864.98 33,780.00 (915.02) 43,100.00 10,235.02 23.7%6313750 Golf Course Accessories 539.03 100.00 439.03 13,526.68 7,700.00 5,826.68 8,000.00 (5,526.68) -69.1%6313756 POA Control 218.36 - 218.36 8,113.87 7,000.00 1,113.87 7,000.00 (1,113.87) -15.9%6313758 Miscellaneous Supp 689.76 100.00 589.76 4,507.17 4,050.00 457.17 4,350.00 (157.17) 0.0%6313762 Supplies-Office - - - 450.78 - 450.78 - (450.78) 0.0%6313774 Sand - 100.00 (100.00) 5,683.93 11,160.00 (5,476.07) 11,460.00 5,776.07 50.4%6313775 Sand-Bunkers 1,595.62 - 1,595.62 3,896.31 - 3,896.31 - (3,896.31) 0.0%6313776 Seed - 350.00 (350.00) 88,921.88 90,760.00 (1,838.12) 91,810.00 2,888.12 3.1%6313778 Small Tools & Non-Capital Equip - 100.00 (100.00) 3,768.22 4,700.00 (931.78) 5,000.00 1,231.78 24.6%6313780 Sod - - - 9,039.15 4,250.00 4,789.15 5,750.00 (3,289.15) -57.2%6313782 Topdressing - - - 3,642.00 5,000.00 (1,358.00) 7,600.00 3,958.00 52.1%Total-CM-SUPPLIES & MATERIALS11,283.18 10,450.00 833.18 298,411.25 283,400.00 15,011.25 319,070.00 20,658.75 6.5%63-CM-REPAIRS & MAINTENANCE6315095 CM-R&M-Contract Lake Maint 1,488.50 1,500.00 (11.50) 15,256.44 12,500.00 2,756.44 17,000.00 1,743.56 10.3%6315685 CM-R&M-Bldngs & Othr Structures 569.17 - 569.17 2,050.65 1,250.00 800.65 1,750.00 (300.65) -17.2%6315690 CM-R&M-Equipment 1,412.31 1,500.00 (87.69) 29,514.69 31,200.00 (1,685.31) 35,700.00 6,185.31 17.3%6315692 CM-R&M-Irrigation System 1,860.83 1,000.00 860.83 16,183.83 13,050.00 3,133.83 16,050.00 (133.83) -0.8%6315696 CM-R&M-Pumps - 1,000.00 (1,000.00) 6,904.54 9,000.00 (2,095.46) 10,500.00 3,595.46 34.2%6315815 CM-R&M-Trees-Pruning Etc - 2,000.00 (2,000.00) 3,431.93 6,050.00 (2,618.07) 10,050.00 6,618.07 65.9%Total-CM-REPAIRS & MAINTENANCE 5,330.81 7,000.00 (1,669.19) 73,342.08 73,050.00 292.08 91,050.00 17,707.92 19.4%63-CM-UTILTIES6317830 Utilities-Electricity-Bldngs - - - 40.50 - 40.50 (40.50) 0.0%6317836 Utilities-Natural Gas/LPG 25.66 50.00 (24.34) 86.19 450.00 (363.81) 600.00 513.81 0.0%6317840 Telephones 1,456.49 850.00 606.49 9,112.74 7,650.00 1,462.74 10,200.00 1,087.26 10.7%Total-CM-UTILITIES 1,482.15 900.00 582.15 9,239.43 8,100.00 1,139.43 10,800.00 1,560.57 14.4%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 Bldgs - - - 210.00 - 210.00 (210.00) 0.0%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 487.83 524.00 (36.17) 4,878.30 4,716.00 162.30 6,288.00 1,409.70 0.0%6319150 Dues & Subscriptions - - - 158.00 600.00 (442.00) 900.00 742.00 82.4%6319170 Employee Education 85.00 50.00 35.00 1,090.95 1,400.00 (309.05) 1,550.00 459.05 29.6%6319197 Equipment Rental - 200.00 (200.00) 2,966.74 3,700.00 (733.26) 4,200.00 1,233.26 29.4%6319206 Licenses & Permits 114.05 250.00 (135.95) 684.30 530.00 154.30 680.00 (4.30) -0.6%6319490 Miscellaneous - 100.00 (100.00) 439.92 900.00 (460.08) 1,200.00 760.08 63.3%6319718 Safety Equipment & Training 674.89 200.00 474.89 3,889.90 2,300.00 1,589.90 2,600.00 (1,289.90) -49.6%6319822 Uniforms 576.58 820.00 (243.42) 8,642.83 7,380.00 1,262.83 9,840.00 1,197.17 12.2%Total-CM-OTHER EXPENSES 2,438.35 2,644.00 (205.65) 28,960.94 28,026.00 934.94 37,258.00 8,297.06 22.3%Month to Date Year to DateSilverRock ResortCourse Maintenance Expense StatementMarch 2010Annual Budget4 March Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget632-CM-LANDSCAPE MAINTENANCE632-CM-LM-SALARIES & BENEFITS6321320 Insurance-Group 2,317.00 2,317.00 - 19,073.75 20,853.00 (1,779.25) 27,804.00 8,730.25 31.4%6321325 Insurance-Workers Comp 384.97 669.00 (284.03) 3,710.39 6,191.00 (2,480.61) 8,229.00 4,518.61 54.9%6321800 Taxes-Employer Payroll 1,410.78 1,458.00 (47.22) 9,078.12 13,678.00 (4,599.88) 18,154.00 9,075.88 50.0%6321880 Wages-Hourly 10,984.10 11,712.00 (727.90) 91,542.28 105,408.00 (13,865.72) 140,544.00 49,001.72 34.9%6321882 Wages-Overtime 15.14 - 15.14 2,214.53 4,461.00 (2,246.47) 5,272.00 3,057.47 58.0%Total-CM-LM-SALARIES & BENEFITS15,111.99 16,156.00 (1,044.01) 125,619.07 150,591.00 (24,971.93) 200,003.00 74,383.93 37.2%632-CM-LM-SUPPLIES & MATERIALS6323778 Small Tools - 75.00 (75.00) 89.11 800.00 (710.89) 1,025.00 935.89 91.3%6323788 Uniforms 134.88 290.00 (155.12) 1,650.82 2,610.00 (959.18) 3,480.00 1,829.18 52.6%Total-CM-LM-SUPPLIES & MATERIALS134.88 365.00 (230.12) 1,739.93 3,410.00 (1,670.07) 4,505.00 2,765.07 61.4%632-CM-LM-REPAIRS & MAINTENANCE6325687 CM-LM-R&M-Drip Irrigation - 250.00 (250.00) 604.15 3,250.00 (2,645.85) 4,250.00 3,645.85 85.8%Total-CM-LM-REPAIRS & MAINTENANCE - 250.00 (250.00) 604.15 3,250.00 (2,645.85) 4,250.00 3,645.85 85.8%114,002.41 113,495.00 507.41 1,190,502.25 1,246,997.00 (56,494.75) 1,594,579.00 404,076.75 25.3% March Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget632-CM-WATER & ENERGY6337834 Utilities-Electricity-Pumping 2,443.16 6,000.00 (3,556.84) 22,769.43 50,000.00 (27,230.57) 65,000.00 42,230.57 65.0%6337842 Utilities-Water1,839.73 1,504.00 335.73 25,592.30 16,894.00 8,698.30 21,871.00 (3,721.30) -17.0%4,282.89 7,504.00 (3,221.11) 48,361.73 66,894.00 (18,532.27) 86,871.00 38,509.27 44.3%Silverrock ResortCourse Maintenance Expense StatementMarch 2010Annual BudgetMonth to Date Year to DateSilverrock ResortCourse Maintenance Water & EnergyMarch 2010Total-COURSE MAINTENANCETotal-CM-WATER & ENERGYMonth to Date Year to Date Annual Budget5 March Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense641-CBR-SALARIES & BENEFITS6411175 Employee Meals 720.00 720.00 - 5,280.00 5,280.00 - 6,960.00 1,680.00 24.1%6411320 Insurance-Group 662.00 662.00 - 4,569.60 5,958.00 (1,388.40) 7,944.00 3,374.40 42.5%6411325 Insurance-Workers Comp 507.30 1,724.00 (1,216.70) 3,464.12 12,016.00 (8,551.88) 16,162.00 12,697.88 78.6%6411800 Taxes-Employer Payroll 2,188.36 1,495.00 693.36 11,067.42 10,420.00 647.42 14,012.00 2,944.58 21.0%6411880 Wages-Hourly 14,385.48 12,009.00 2,376.48 88,733.96 83,690.00 5,043.96 112,549.00 23,815.04 21.2%6411882 Wages-Overtime 108.94 - 108.94 1,253.09 - 1,253.09 - (1,253.09) 0.0%Total-CBR-SALARIES & BENEFITS18,572.08 16,610.00 1,962.08 114,368.19 117,364.00 (2,995.81) 157,627.00 43,258.81 27.4%641-CBR-SUPPLIES & MATERIALS6413732 Supplies-Carts 3,000.00 50.00 2,950.00 5,109.78 2,200.00 2,909.78 2,350.00 (2,759.78) -117.4%6413742 Supplies-Expendable 462.00 150.00 312.00 6,005.69 3,850.00 2,155.69 5,000.00 (1,005.69) -20.1%6413752 Supplies-Range Balls - - - 7,031.57 6,000.00 1,031.57 6,000.00 (1,031.57) -17.2%6413762 Supplies-Office - 50.00 (50.00) - 375.00 (375.00) 525.00 525.00 100.0%6413768 Supplies-Printing and Stationary 38.71 70.00 (31.29) 372.42 210.00 162.42 420.00 47.58 11.3%6413786 Supplies-Towels - 72.00 (72.00) 1,650.27 676.00 974.27 892.00 (758.27) -85.0%6413796 Supplies-Bottled Water245.44 400.00 (154.56) 14,964.50 18,200.00 (3,235.50) 19,400.00 4,435.50 22.9%Total-CBR-SUPPLIES & MATERIALS3,746.15 792.00 2,954.15 35,134.23 31,511.00 3,623.23 34,587.00 (547.23) -1.6%641-CBR-REPAIRS & MAINTENANCE6415096 CBR-R&M-Contract Services-Carts - 720.00 (720.00) 5,383.44 6,480.00 (1,096.56) 8,640.00 3,256.56 37.7%6415690 CBR-R&M-Equipment 1,557.02 300.00 1,257.02 3,365.46 2,700.00 665.46 3,600.00 234.54 6.5%6415695 CBR-R&M-Cart Maintenance & Repair 1,954.34 250.00 1,704.34 7,715.93 3,250.00 4,465.93 4,000.00 (3,715.93) -92.9%Total-CBR-REPAIRS & MAINTENANCE 3,511.36 1,270.00 2,241.36 16,464.83 12,430.00 4,034.83 16,240.00 (224.83) -1.4%641-CBR-OTHER EXPENSES6419093 Contract Services-Handicaps 330.00 500.00 (170.00) 5,845.00 4,350.00 1,495.00 5,000.00 (845.00) -16.9%6419094 Contract Services-Laundry/Linen 1,120.83 500.00 620.83 7,152.96 4,500.00 2,652.96 6,000.00 (1,152.96) -19.2%6419220 Freight/Delivery - 75.00 (75.00) - 675.00 (675.00) 900.00 900.00 100.0%6419490 Miscellaneous - 125.00 (125.00) 640.42 775.00 (134.58) 1,150.00 509.58 44.3%6419820 Uniforms - 925.00 (925.00) 2,817.06 3,925.00 (1,107.94) 5,625.00 2,807.94 49.9%Total-CBR-OTHER EXPENSES 1,450.83 2,125.00 (674.17) 16,455.44 14,225.00 2,230.44 18,675.00 2,219.56 11.9%TOTAL-CARTS,BAGROOM & RANGE 27,280.42 20,797.00 6,483.42 182,422.69 175,530.00 6,892.69 227,129.00 44,706.31 19.7%643-CS-SALARIES & BENEFITS6431175 Employee Meals 420.00 420.00 - 2,580.00 2,580.00 - 3,300.00 720.00 21.8%6431325 Insurance-Workers Comp 212.86 288.00 (75.14) 1,255.00 1,657.00 (402.00) 2,069.00 814.00 39.3%6431800 Taxes-Employer Payroll 865.95 627.00 238.95 4,350.94 3,615.00 735.94 4,512.00 161.06 3.6%6431880 Wages-Hourly 6,075.83 5,040.00 1,035.83 32,972.33 29,040.00 3,932.33 36,240.00 3,267.67 9.0%6431882 Wages-Overtime 6.00 - 6.00 189.00 - 189.00 - (189.00) 0.0%Total-CS-SALARIES & BENEFITS7,580.64 6,375.00 1,205.64 41,347.27 36,892.00 4,455.27 46,121.00 4,773.73 10.4%643-CS-OTHER EXPENSES6433742 Supplies Expendable - 100.00 (100.00) 1,091.34 800.00 291.34 1,050.00 (41.34) -3.9%6439490 Miscellaneous - - - 114.12 200.00 (85.88) 200.00 85.88 42.9%6439718 Safety Equipment & Training - 50.00 (50.00) 464.47 450.00 14.47 600.00 135.53 22.6%6439820 Uniforms - 75.00 (75.00) 1,238.23 1,350.00 (111.77) 1,900.00 661.77 34.8%Total-CS-OTHER EXPENSES - 225.00 (225.00) 2,908.16 2,800.00 108.16 3,750.00 841.84 22.4%Total-COURSE SERVICES 7,580.64 6,600.00 980.64 44,255.43 39,692.00 4,563.43 49,871.00 5,615.57 11.3%34,861.06 27,397.00 7,464.06 226,678.12 215,222.00 11,456.12 277,000.00 49,480.04 17.9%TOTAL OUTSIDE SERVICESMonth to Date Year to DateSilverRock ResortOutside Services Expense StatementMarch 2010Annual Budget6 March Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense65-CH-SUPPLIES & MATERIALS6503742 Supplies-Expendable- 400.00 (400.00) 270.43 3,600.00 (3,329.57) 4,800.00 4,529.57 94.4%Total-CH-SUPPLIES & MATERIALS - 400.00 (400.00) 270.43 3,600.00 (3,329.57) 4,800.00 4,529.57 94.4%65-CH-UTILITIES6507836 Utilities-Natural Gas- 300.00 (300.00) 2,419.29 2,700.00 (280.71) 3,600.00 1,180.71 32.8%6507838 Utilities-Sewer- 200.00 (200.00) - 1,800.00 (1,800.00) 2,400.00 2,400.00 100.0%6507840 Utilities-Telephone1,081.80 1,000.00 81.80 10,132.63 9,000.00 1,132.63 12,000.00 1,867.37 15.6%6507842 Utilities-Water305.40 200.00 105.40 4,032.91 1,800.00 2,232.91 2,400.00 (1,632.91) -68.0%6507844 Utilities-Cable340.40 317.00 23.40 2,945.59 2,853.00 92.59 3,800.00 854.41 22.5%Total-CH-UTILITIES 1,727.60 2,017.00 (289.40) 19,530.42 18,153.00 1,377.42 24,200.00 4,669.58 19.3%65-CH-OTHER EXPENSES6509091 Contract Services-Cleaning1,825.00 1,825.00 - 17,145.00 17,025.00 120.00 22,500.00 5,355.00 23.8%6509098 Contract Services-Refuse Dispose840.18 - 840.18 3,547.24 - 3,547.24 - (3,547.24) 0.0%6509099 Contract Services-Security4,565.04 4,100.00 465.04 46,964.18 36,900.00 10,064.18 49,200.00 2,235.82 4.5%6509215 Flowers & Decorations- 100.00 (100.00) - 2,300.00 (2,300.00) 2,600.00 2,600.00 100.0%6509490 Miscellaneous12.57 200.00 (187.43) 922.69 1,800.00 (877.31) 2,400.00 1,477.31 61.6%6509718 Safety Equipment & Training250.00 100.00 150.00 938.15 900.00 38.15 1,200.00 261.85 21.8%Total-CH-OTHER EXPENSES 7,492.79 6,325.00 1,167.79 69,517.26 58,925.00 10,592.26 77,900.00 8,382.74 10.8%65-CH-REPAIRS & MAINTENANCE6515685 CH-R&M-Building Structures450.00 200.00 250.00 5,581.78 1,800.00 3,781.78 2,400.00 (3,181.78) -132.6%6515686 CH-R&M-Restaurant Repairs- 400.00 (400.00) 3,501.16 3,600.00 (98.84) 4,800.00 1,298.84 27.1%6515690 CH-R&M-Equipment Repair- 400.00 (400.00) 135.00 3,600.00 (3,465.00) 4,800.00 4,665.00 97.2%Total-CH-REPAIRS & MAINTENANCE 450.00 1,000.00 (550.00) 9,217.94 9,000.00 217.94 12,000.00 2,782.06 23.2%9,670.39 9,742.00 (71.61) 98,536.05 89,678.00 8,858.05 118,900.00 5,564.12 4.7%Total CLUBHOUSEMonth to Date Year to DateSilverRock ResortClubhouse Expense StatementMarch 2010Annual Budget7 March Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense66-MKT-SALARIES & BENEFITS6601175 Employee Meals 60.00 60.00 - 540.00 540.00 - 720.00 180.00 25.0%6601320 Insurance-Group 331.00 331.00 - 2,888.12 2,979.00 (90.88) 3,972.00 1,083.88 27.3%6601325 Insurance-Workers Comp 87.50 143.00 (55.50) 903.30 1,287.00 (383.70) 1,713.00 809.70 47.3%6601720 Salaries 2,500.00 2,500.00 - 22,500.00 22,500.00 - 30,000.00 7,500.00 25.0%6601800 Taxes-Employer Payroll 311.00 311.00 - 2,799.00 2,799.00 - 3,735.00 936.00 25.1%Total-MKT-SALARIES & BENEFITS 3,289.50 3,345.00 (55.50) 29,630.42 30,105.00 (474.58) 40,140.00 10,509.58 26.2%66-MKT-SUPPLIES & MATERIALS6603762 Supplies-Office - 100.00 (100.00) 379.68 900.00 (520.32) 1,200.00 820.32 68.4%6603768 Supplies-Printing & Stationery 1,319.94 125.00 1,194.94 2,836.19 4,050.00 (1,213.81) 4,425.00 1,588.81 35.9%1,319.94 225.00 1,094.94 3,215.87 4,950.00 (1,734.13) 5,625.00 2,409.13 42.8%66-MKT-UTILITIES6607840 Utilities-Telephone 67.27 100.00 (32.73) 817.46 900.00 (82.54) 1,200.00 382.54 31.9%Total-MKT-UTILITIES 67.27 100.00 (32.73) 817.46 900.00 (82.54) 1,200.00 382.54 31.9%66-MKT-OTHER EXPENSES6609010 Advertising 17,340.81 21,127.00 (3,786.19) 141,475.36 152,253.00 (10,777.64) 185,984.00 44,508.64 23.9%6609040 Business Meals - 25.00 (25.00) 25.00 225.00 (200.00) 300.00 275.00 91.7%6609080 Collateral Material 2,060.98 500.00 1,560.98 4,235.59 7,000.00 (2,764.41) 9,000.00 4,764.41 52.9%6609102 Contract Services-Web Page 99.00 175.00 (76.00) 1,461.00 1,575.00 (114.00) 2,100.00 639.00 30.4%6609490 Miscellaneous - 50.00 (50.00) 32.00 250.00 (218.00) 350.00 318.00 90.9%6609620 Postage - 50.00 (50.00) 296.59 450.00 (153.41) 600.00 303.41 50.6%6609630 Promotion - 50.00 (50.00) 299.38 550.00 (250.62) 700.00 400.62 0.0%6609633 Promotion-Community 612.00 75.00 537.00 640.25 2,700.00 (2,059.75) 2,925.00 2,284.75 78.1%6609634 Promotion-Media/Vendor 82.08 - 82.08 175.50 6,500.00 (6,324.50) 6,500.00 - 0.0%6609150 Dues and Subscriptions - 300.00 (300.00) 140.00 735.00 (595.00) 735.00 595.00 81.0%6609820 Uniforms - 50.00 (50.00) 12.71 550.00 (537.29) 600.00 587.29 97.9%Total-MKT-OTHER EXPENSES 20,194.87 22,402.00 (2,207.13) 148,793.38 172,788.00 (23,994.62) 209,794.00 54,676.12 26.1%24,871.58 26,072.00 (1,200.42) 182,457.13 208,743.00 (26,285.87) 256,759.00 67,977.37 26.5%Total-MARKETINGMonth to Date Year to DateSilverRock ResortMarketing Expense StatementMarch 2010Annual Budget8 March Final 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-Group1,458.00 1,458.00 - 12,513.04 13,122.00 (608.96) 17,496.00 4,982.96 28.5%6701325 Insurance-Workers Comp616.35 981.00 (364.65) 5,537.81 8,829.00 (3,291.19) 11,772.00 6,234.19 53.0%6701720 Salaries 15,205.10 14,534.00 671.10 125,523.14 130,806.00 (5,282.86) 174,408.00 48,884.86 28.0%6701800 Taxes-Employer Payroll 1,503.99 2,140.00 (636.01) 11,775.39 19,260.00 (7,484.61) 25,680.00 13,904.61 54.1%6701880 Wages-Hourly2,404.94 2,654.00 (249.06) 14,153.30 23,886.00 (9,732.70) 31,848.00 17,694.70 55.6%6701882 Wages-Overtime - - - 10.97 - 10.97 - (10.97) 0.0%Total-G&A-SALARIES & BENEFITS 21,368.38 21,947.00 (578.62) 171,133.65 197,523.00 (26,389.35) 263,364.00 92,230.35 35.0%67-G&A-SUPPLIES & MATERIALS6703740 Supplies-Computer120.90 800.00 (679.10) 1,757.47 8,400.00 (6,642.53) 10,800.00 9,042.53 83.7%6703762 Supplies-Office - 125.00 (125.00) 1,404.94 1,125.00 279.94 1,500.00 95.06 6.3%6703768 Supplies-Printing & Stationery447.66 400.00 47.66 1,719.01 2,000.00 (280.99) 3,200.00 1,480.99 46.3%6703778Supplies-Small Tools/Non-Capital - 100.00 (100.00) - 700.00 (700.00) 900.00 900.00 100.0%Total-G&A-SUPPLIES & MATERIALS 568.56 1,425.00 (856.44) 4,881.42 12,225.00 (7,343.58) 16,400.00 11,518.58 70.2%67-G&A-REPAIRS & MAINTENANCE6705690 Repairs & Maintenance-Equipment- 100.00 (100.00) 297.97 900.00 (602.03) 1,200.00 902.03 75.2%Total-G&A-REPAIRS & MAINTENANCE - 100.00 (100.00) 297.97 900.00 (602.03) 1,200.00 902.03 75.2%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%6709150 Dues & Subscriptions- 50.00 (50.00) 394.00 900.00 (506.00) 1,500.00 1,106.00 73.7%6709180 Employee Recruiting/Relocation112.00 200.00 (88.00) 1,270.49 2,600.00 (1,329.51) 2,600.00 1,329.51 51.1%6709197 Equipment Rental575.15 350.00 225.15 4,756.94 3,150.00 1,606.94 4,200.00 (556.94) -13.3%6709202 Fees-Bank59.97 90.00 (30.03) 491.56 810.00 (318.44) 1,080.00 588.44 54.5%6709208 Fees-Payroll Processing818.87 550.00 268.87 7,034.08 4,950.00 2,084.08 6,600.00 (434.08) -6.6%6709220 Freight/Delivery- 50.00 (50.00) 195.65 450.00 (254.35) 600.00 404.35 67.4%6709490 Miscellaneous 31.85 100.00 (68.15) 847.56 900.00 (52.44) 1,200.00 352.44 29.4%6709620 Postage/Mail Services - 75.00 (75.00) 975.87 675.00 300.87 900.00 (75.87) -8.4%6709625 Professional Fees340.98 400.00 (59.02) 5,414.93 3,600.00 1,814.93 4,800.00 (614.93) -12.8%6709636 Promotion/Entertainment- 100.00 (100.00) 2,134.78 2,300.00 (165.22) 2,600.00 465.22 17.9%6709722 Seminars & Training- 200.00 (200.00) 688.51 1,800.00 (1,111.49) 2,400.00 1,711.49 71.3%6709810 Travel - - - - 200.00 (200.00) 1,100.00 1,100.00 100.0%6709820 Uniforms - 75.00 (75.00) 668.34 825.00 (156.66) 1,050.00 381.66 36.3%Total-G&A-OTHER EXPENSES 2,338.82 2,640.00 (301.18) 28,472.71 26,760.00 1,712.71 35,430.00 6,957.29 19.6%24,275.76 26,112.00 (1,836.24) 204,785.75 237,408.00 (32,622.25) 316,394.00 111,608.25 35.3%Total-GENERAL & ADMINISTRATIVEMonth to Date Year to DateSilverRock ResortGeneral & Administrative Expense StatementMarch 2010Annual Budget9 March Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense68-LEASES6800192 Equipment Leases-Carts 8,785.41 11,581.00 (2,795.59) 95,842.47 104,229.00 (8,386.53) 138,972.00 43,129.53 31.0%6800193 Equipment Leases-Course Maint 229.31 15,000.00 (14,770.69) 80,840.11 144,000.00 (63,159.89) 189,000.00 108,159.89 57.2%6800194 Equipment Leases-Trailer 540.00 600.00 (60.00) 4,888.50 5,400.00 (511.50) 7,200.00 2,311.50 32.1%6800195 Equipment Leases-Software 419.00 - 419.00 11,054.65 8,232.00 2,822.65 8,232.00 (2,822.65) -34.3%6800196 Equipment Leases-GPS 7,942.00 7,400.00 542.00 66,686.51 66,600.00 86.51 88,800.00 22,113.49 24.9%6800197 Equipment Leases-Others 1,531.22 - 1,531.22 20,358.95 - 20,358.95 - - 0.0%19,446.94 34,581.00 (15,134.06) 279,671.19 328,461.00 (48,789.81) 432,204.00 172,891.76 40.0%69-MISC OTHER EXPENSES6900096 Contract Srvcs-Management Fee (12,182.04) (10,090.00) (2,092.04) 65,511.08 71,944.00 (6,432.92) 90,000.00 24,488.92 27.2%6900210 FF&E Reserve 11,112.32 10,724.00 388.32 45,168.77 42,430.00 2,738.77 59,610.00 14,441.23 24.2%6900800 Personal Property Taxes - - - 11,577.70 20,000.00 (8,422.30) 20,000.00 8,422.30 42.1%6900323 Insurance-Commercial 2,551.44 3,500.00 (948.56) 21,697.96 31,500.00 (9,802.04) 42,000.00 20,302.04 48.3%1,481.72 4,134.00 (2,652.28) 143,955.51 165,874.00 (21,918.49) 211,610.00 67,654.49 32.0%Silverrock ResortOperating Leases & Miscellaneous Other Expense StatementMarch 2010Annual BudgetMonth to Date Year to DateTotal-LEASESTotal-MISC OTHER EXPENSES10 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report-2009-20102009 2009 2009 2009 2009 2009Comp CategoryJulyAugustSeptemberOctoberNovemberDecemberMedia74 4Sales8PromotionGolf Industry81711 715VIPCelebrityPGA Comp70 68 67 9 44 62Charity/Gift Certificate14 10 4 20Rain/Wind Checks3 5 36 15Club Staff69 105 91 6 47 105LQ HS Golf39161 200 227 19 138 2252010 2010 2010 2010 2010 2010Comp CategoryJanuaryFebruaryMarchAprilMayJuneMedia4Sales4Promotion7Golf Industry26 612VIPCelebrityPGA Comp91 5363Charity/Gift Certificate41659Rain/Wind Checks938Club Staff63 11394LQ HS Golf82197 191 329 0 0 011 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report-2009-2010March 2010 Date Time Description CategoryPlayers3/5/2010 9:45 Joe Terzi - CVA President Promo 43/6/2010 7:22 Bob Wllis - Golfweek Magazine -Golf Rater Promo 13/8/2010 11:00 Kris Long - CBS2 - Anchor Media 43/11/2010 7:30 Guy Generaux - Golfweek Magazine -Golf Rater Promo 212