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08 February 2011 SilverRock Resort - Monthly Financial Statement Monthly Financial Statements July 2010 – February 2011 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 February Final Budget Variance Percentages Unfavorable (-) Favorable (+) Final Budget Variance Annual Budget Unemcumb. % Bdgt Income400000 Golf Green Fee Revenue458,946.13 469,175.00 (10,228.87) -2.2% 1,642,222.70 1,704,258.00 (62,035.30) 3,111,458.00 1,469,235.30 53%401000 Miscellaneous Golf Revenue 24,534.75 17,240.00 7,294.75 42.3% 87,989.13 76,251.00 11,738.13 117,656.00 29,666.87 75%410000 Revenue-Golf Shop 42,461.07 49,000.00 (6,538.93) -13.3% 177,894.04 179,831.00 (1,936.96) 306,492.00 128,597.96 58%420000 Revenue-F&B Concession1,500.00 1,500.00 - 0.0% 9,000.00 9,000.00 - 12,000.00 3,000.00 75%890000 Interest Income3.82 - 3.82 0.0% 37.88 - 37.88 - (37.88) 0%Total Income527,445.77 536,915.00 (9,469.23) -1.8% 1,917,143.75 1,969,340.00 (52,196.25) 3,547,606.00 1,630,462.25 54%Cost of Goods Sold510000 COS-Golf Shop 24,240.52 26,006.00 (1,765.48) 6.8% 97,521.20 95,443.05 (2,078.15) 162,670.60 65,149.40 60%Total COS24,240.52 26,006.00 (1,765.48) 6.8% 97,521.20 95,443.05 (2,078.15) 162,670.60 65,149.40 60%Gross Profit503,205.25 510,909.00 (7,703.75) -1.5% 1,819,622.55 1,873,896.95 (54,274.40) 3,384,935.40 1,565,312.85 54%Expenses610000 Golf Pro Shop 21,210.21 20,530.00 (680.21) -3.3% 131,493.97 148,987.00 17,493.03 230,213.00 98,719.03 57%630000 Course Maintenance111,184.03 112,540.00 1,355.97 1.2% 1,077,044.75 1,097,230.00 20,185.25 1,541,961.00 464,916.25 70%633000 Maintenance Water & Energy3,640.34 5,473.00 1,832.66 33.5% 54,088.38 58,493.00 4,404.62 85,358.00 31,269.62 63%640000 Outside Services29,885.08 28,129.00 (1,756.08) -6.2% 181,851.95 194,969.00 13,117.05 297,478.00 115,626.05 61%650000 Clubhouse 9,813.95 10,636.00 822.05 7.7% 89,983.37 88,788.00 (1,195.37) 132,232.00 42,248.63 68%660000 Marketing 19,476.76 31,216.00 11,739.24 37.6% 170,624.97 195,323.00 24,698.03 262,644.00 92,019.03 65%670000 General & Administrative26,817.88 26,514.00 (303.88) -1.1% 195,157.07 209,412.00 14,254.93 314,808.00 119,650.93 62%680000 Leases 19,166.86 20,000.00 833.14 4.2% 151,018.13 167,740.00 16,721.87 247,740.00 96,721.87 61%690000 Miscellaneous Other Expense11,157.38 7,688.00 (3,469.38) -45.1% 137,756.51 144,964.00 7,207.49 192,199.00 54,442.49 72%Total Expenses252,352.49 262,726.00 10,373.51 3.9% 2,189,019.10 2,305,906.00 116,886.90 3,304,633.00 1,115,613.90 66%250,852.76 248,183.00 2,669.76 1.1%(369,396.55) (432,009.05) 62,612.50 80,302.40 449,698.95 -460%Rounds of Golf PlayedPaid Rounds Played 4,917 4,900 17 0.3% 24,980 24,627 353 39,150 14,170 64%Ave $ Per Paid Round Green Fee93.34 95.75 (2.41) -2.5% 65.74 69.20 (3.46) 76.13 10.39 86%Ave $ Per Paid Round Merchandise8.64 10.00 (1.36) -13.6% 7.12 7.30 (0.18) 8.07 0.95 88%Ave $ Per Paid Miscellaneous 4.99 3.52 1.47 41.8% 3.52 3.10 0.43 2.06 - 0%SilverRock ResortSummary Operating Income StatementNet IncomeMonth to Date Year to DateFebruary 20111 Income February Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4000000 Revenue-Fees 458,946.13 469,175.00 (10,228.87) 1,642,222.70 1,704,258.00 (62,035.30) 3,111,458.001,469,235.3053%4010000 Rider Fee 1,100.00 490.00 610.00 6,225.00 4,777.00 1,448.00 6,522.00297.0095%4040000 Club Rental 2,415.00 4,900.00 (2,485.00) 12,725.00 15,749.00 (3,024.00) 28,004.0015,279.0045%4050000 Driving Range 13,401.00 7,350.00 6,051.00 44,061.00 27,725.00 16,336.00 48,130.004,069.0092%4080000 GPS Advertising - 1,000.00 (1,000.00) - 11,000.00 (11,000.00) 12,000.00 12,000.000%4090000 Ball Retriever/Subcontract - - - 2,075.38 3,000.00 (924.62) 4,000.00 1,924.6252%4091000 Golf Professional Rental Fee 7,200.00 3,500.00 3,700.00 22,325.00 14,000.00 8,325.00 19,000.00 -3,325.00 118%4092000 Golf Lessons 418.75 - 418.75 577.75 - 577.75 - (577.75) 0% Total Revenue Fees 483,480.88 486,415.00 (2,934.12) 1,730,211.83 1,780,509.00 (50,297.17) 3,229,114.00 1,498,902.17 54%483,480.88 486,415.00 (2,934.12) 1,730,211.83 1,780,509.00 (50,297.17) 3,229,114.00 1,498,902.17 54%SilverRock ResortStatement of Fees RevenueFebruary 2011Total IncomeMonth to Date Year to Date Annual Budget2 Income February Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4100000 Sales Miscellaneous 652.17 - 652.17 3,254.55 - 3,254.55 0 0 0%4100110 Sales Hard Goods 11,172.98 17,150.00 (5,977.02) 58,885.07 62,941.00 (4,055.93) 107,272.00 48,386.93 55%4100112 Sales-Soft Goods 38,150.62 31,850.00 6,300.62 139,639.63 116,890.00 22,749.63 199,220.00 59,580.37 70%5100639 GS-Discounts-Mdse (7,514.70) - (7,514.70) (23,885.21) - (23,885.21) - 23,885.21 0% Total Revenue Golf Shop 42,461.07 49,000.00 (6,538.93) 177,894.04 179,831.00 (1,936.96) 306,492.00 131,852.51 57%COS 5100150 COS-GS-Hard Goods 5,741.13 9,432.50 (3,691.37) 29,560.72 34,617.55 (5,056.83) 58,999.60 29,438.88 50%5100151 COS-GS-Soft Goods 18,286.91 17,517.50 769.41 64,424.23 64,289.50 134.73 109,571.00 45,146.77 59%5100152 COS-GS-Purchase Disc (226.83) (1,348.00) 1,121.17 (1,627.98) (4,946.00) 3,318.02 (8,429.00) (6,801.02) -19%5100220 COS-GS-Freight Merch 439.31 404.00 35.31 5,164.23 1,482.00 3,682.23 2,529.00 (2,635.23) 204%Cost of Sales - Golf Shop 24,240.52 26,006.00 (1,765.48) 97,521.20 95,443.05 2,078.15 162,670.60 65,149.40 60%Gross Profit 18,220.55 22,994.00 (4,773.45) 80,372.84 84,387.95 (4,015.11) 143,821.40 66,703.11 54%COS % 57.1% 53.1% -4.0% 54.8% 53.1% -1.7% 53.1% 49.4% 7%Expense61-PS-SALARIES & BENEFITS6101175 Employee Meals 480.00 480.00 - 3,540.00 3,540.00 - 5,400.00 1,860.00 66%6101320 Insurance Group 2,837.34 2,317.00 520.34 18,340.06 17,543.00 797.06 26,811.00 8,470.94 68%6101325 Insurance-Workers Comp 467.52 577.00 (109.48) 3,144.75 3,978.00 (833.25) 6,131.00 2,986.25 51%6101720 Salaries 4,609.10 3,750.00 859.10 29,789.44 30,000.00 (210.56) 45,000.00 15,210.56 66%6101800 Taxes-Employer Payroll 2,167.95 1,743.00 424.95 8,737.21 12,020.00 (3,282.79) 18,528.00 9,790.79 47%6101880 Wages-Hourly 9,916.27 10,253.00 (336.73) 56,386.21 66,536.00 (10,149.79) 103,818.00 47,431.79 54%6101882 Wages-Overtime 84.75 - 84.75 1,332.98 - 1,332.98 - 952.88 0%Total -PS-SALARIES & BENEFITS 20,562.93 19,120.00 1,442.93 121,270.65 133,617.00 (12,346.35) 205,688.00 86,703.21 58%61-PS OTHER EXPENSES6103742 Supplies-Expendable - - - 189.74 - 189.74 - (189.74) 0%6103762 Supplies-Office 28.24 500.00 (471.76) 1,960.86 4,000.00 (2,039.14) 6,000.00 4,039.14 33%6109090 Contract Services 500.00 500.00 - 4,000.00 4,000.00 - 6,000.00 2,000.00 67%6109220 Freight & Delivery 44.11 - 44.11 483.28 75.00 408.28 75.00 (408.28) 644%6109490 Miscellaneous 10.55 50.00 (39.45) 199.92 250.00 (50.08) 450.00 250.08 44%6109150 Dues and Subscriptions - - - - - - 2,300.00 2,300.00 0%6109500 ProShop-Over/Short (4.86) - (4.86) 15.74 - 15.74 - (15.74) 0%6109722 Seminars/Training - 35.00 (35.00) 545.07 4,535.00 (3,989.93) 5,890.00 5,344.93 9%6109810 Travel - Merchandise - 15.00 (15.00) - 30.00 (30.00) 90.00 90.00 0%6109820 Uniforms 69.24 200.00 (130.76) 1,840.56 1,600.00 240.56 2,400.00 559.44 77%6117840 Telephones - 110.00 (110.00) 988.15 880.00 108.15 1,320.00 331.85 0%Total PS-OTHER EXPENSES 647.28 1,410.00 (762.72) 10,223.32 15,370.00 (5,146.68) 24,525.00 14,301.68 42%21,210.21 20,530.00 680.21 131,493.97 148,987.00 (17,493.03) 230,213.00 101,004.89 56%Net Income(2,989.66) 2,464.00 (5,453.66) (51,121.13) (64,599.05) 13,477.92 (86,391.60) (34,301.78) -60%SilverRock ResortGolf Shop Income StatementFebruary 2011Total Expenses-Golf ShopMonth to Date Year to Date Annual Budget3 February Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense63-CM-SALARIES & BENEFITS6311175 Employee Meals 240.00 240.00 - 1,920.00 1,920.00 - 2,880.00 960.00 33.3%6311320 Insurance-Group 8,889.81 8,740.00 149.81 68,457.50 69,920.00 (1,462.50) 104,880.00 36,422.50 34.7%6311325 Insurance-Workers Comp 1,757.91 2,237.00 (479.09) 16,896.59 18,609.00 (1,712.41) 27,638.00 10,741.41 38.9%6311720 Salaries 12,835.40 12,583.00 252.40 94,247.04 100,664.00 (6,416.96) 150,996.00 56,748.96 37.6%6311800 Taxes-Employer Payroll 8,881.02 6,761.00 2,120.02 45,079.08 56,769.00 (11,689.92) 84,168.00 39,088.92 46.4%6311880 Wages-Hourly 41,953.59 41,725.00 228.59 344,967.92 342,538.00 2,429.92 509,458.00 164,490.08 32.3%6311882 Wages-Overtime 145.61 - 145.61 21,325.58 12,792.00 8,533.58 15,598.00 (5,727.58) -36.7%Total-CM-SALARIES & BENEFITS74,703.34 72,286.00 2,417.34 592,893.71 603,212.00 (10,318.29) 895,618.00 302,724.29 33.8%63-CM-SUPPLIES & MATERIALS6313734 Chemicals 1,520.76 2,000.00 (479.24) 27,177.74 22,900.00 4,277.74 29,300.00 2,122.26 7.2%6313744 Fertilizer 9,474.91 10,000.00 (525.09) 63,942.75 69,400.00 (5,457.25) 89,400.00 25,457.25 28.5%6313745 Herbicides - - - 12,221.59 12,000.00 221.59 12,000.00 (221.59) -1.8%6313746 Flowers/Plants - 100.00 (100.00) 1,253.89 2,850.00 (1,596.11) 3,050.00 1,796.11 58.9%6313748 Fuel-Gasoline 2,327.94 3,000.00 (672.06) 32,666.53 30,680.00 1,986.53 43,100.00 10,433.47 24.2%6313750 Golf Course Accessories - 100.00 (100.00) 12,049.15 11,900.00 149.15 12,300.00 250.85 2.0%6313756 POA Control - - - 8,450.73 7,000.00 1,450.73 7,000.00 (1,450.73) -20.7%6313758 Miscellaneous Supp 1,440.61 100.00 1,340.61 7,985.07 3,950.00 4,035.07 4,350.00 (3,635.07) 0.0%6313762 Supplies-Office 36.74 - 36.74 274.87 - 274.87 - (274.87) 0.0%6313774 Sand - 100.00 (100.00) 4,868.18 11,060.00 (6,191.82) 11,460.00 6,591.82 57.5%6313776 Seed - 350.00 (350.00) 96,436.13 90,410.00 6,026.13 91,810.00 (4,626.13) -5.0%6313778 Small Tools & Non-Capital Equip - 100.00 (100.00) 4,127.61 4,600.00 (472.39) 5,000.00 872.39 17.4%6313780 Sod - - - 3,179.03 2,650.00 529.03 3,350.00 170.97 5.1%6313782 Topdressing - - - 7,717.59 5,000.00 2,717.59 7,600.00 (117.59) -1.5%Total-CM-SUPPLIES & MATERIALS14,800.96 15,850.00 (1,049.04) 282,350.86 274,400.00 7,950.86 319,720.00 37,369.14 11.7%63-CM-REPAIRS & MAINTENANCE6315095 CM-R&M-Contract Lake Maint 1,575.00 1,168.00 407.00 13,951.24 15,514.00 (1,562.76) 24,610.00 10,658.76 43.3%6315685 CM-R&M-Bldngs & Othr Structures 213.54 250.00 (36.46) 1,485.19 1,250.00 235.19 1,750.00 264.81 15.1%6315690 CM-R&M-Equipment 1,312.45 1,000.00 312.45 22,222.07 15,000.00 7,222.07 20,500.00 (1,722.07) -8.4%6315692 CM-R&M-Irrigation System 709.38 1,000.00 (290.62) 10,643.48 12,050.00 (1,406.52) 16,050.00 5,406.52 33.7%6315696 CM-R&M-Pumps 100.03 1,000.00 (899.97) 5,539.18 8,000.00 (2,460.82) 10,500.00 4,960.82 47.2%6315815 CM-R&M-Trees-Pruning Etc - - - 3,495.00 4,050.00 (555.00) 10,050.00 6,555.00 65.2%Total-CM-REPAIRS & MAINTENANCE 3,910.40 4,418.00 (507.60) 57,336.16 55,864.00 1,472.16 83,460.00 26,123.84 31.3%63-CM-UTILTIES6317836 Utilities-Natural Gas/LPG 26.74 15.00 11.74 195.14 120.00 75.14 180.00 (15.14) 0.0%6317840 Telephones 522.45 850.00 (327.55) 8,240.51 6,800.00 1,440.51 10,200.00 1,959.49 19.2%Total-CM-UTILITIES 549.19 865.00 (315.81) 8,435.65 6,920.00 1,515.65 10,380.00 1,944.35 18.7%63-CM-OTHER EXPENSES6319020 Auto Mileage/Allowance 500.00 500.00 - 4,000.00 4,000.00 - 6,000.00 2,000.00 33.3%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 471.25 525.00 (53.75) 3,552.80 4,200.00 (647.20) 6,288.00 2,735.20 0.0%6319150 Dues & Subscriptions - 240.00 (240.00) 345.00 240.00 105.00 540.00 195.00 36.1%6319170 Employee Education 1,285.32 1,000.00 285.32 1,355.32 1,350.00 5.32 1,550.00 194.68 12.6%6319197 Equipment Rental - 200.00 (200.00) 2,747.39 3,500.00 (752.61) 4,200.00 1,452.61 34.6%6319206 Licenses & Permits - - - 353.03 280.00 73.03 1,430.00 1,076.97 75.3%6319490 Miscellaneous - 100.00 (100.00) 618.23 800.00 (181.77) 1,200.00 581.77 48.5%6319718 Safety Equipment & Training 250.00 200.00 50.00 2,483.98 3,350.00 (866.02) 3,850.00 1,366.02 35.5%6319822 Uniforms 969.78 820.00 149.78 8,313.44 6,560.00 1,753.44 9,840.00 1,526.56 15.5%Total-CM-OTHER EXPENSES 3,476.35 3,585.00 (108.65) 25,269.19 26,280.00 (1,010.81) 38,898.00 13,628.81 35.0%Month to Date Year to DateSilverRock ResortCourse Maintenance Expense StatementFebruary 2011Annual Budget4 February Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget632-CM-LANDSCAPE MAINTENANCE632-CM-LM-SALARIES & BENEFITS6321320 Insurance-Group 1,651.73 2,317.00 (665.27) 16,961.73 18,536.00 (1,574.27) 27,804.00 10,842.27 39.0%6321325 Insurance-Workers Comp 330.18 445.00 (114.82) 2,795.82 3,684.00 (888.18) 5,487.00 2,691.18 49.0%6321800 Taxes-Employer Payroll 1,215.76 1,346.00 (130.24) 7,168.21 11,324.00 (4,155.79) 16,811.00 9,642.79 57.4%6321880 Wages-Hourly 10,299.49 10,813.00 (513.51) 77,577.36 86,504.00 (8,926.64) 129,756.00 52,178.64 40.2%6321882 Wages-Overtime 18.73 - 18.73 4,077.34 4,461.00 (383.66) 5,272.00 1,194.66 22.7%Total-CM-LM-SALARIES & BENEFITS13,515.89 14,921.00 (1,405.11) 108,580.46 124,509.00 (15,928.54) 185,130.00 76,549.54 41.3%632-CM-LM-SUPPLIES & MATERIALS6323778 Small Tools - 75.00 (75.00) 264.55 725.00 (460.45) 1,025.00 760.45 74.2%6323788 Uniforms 227.90 290.00 (62.10) 1,789.00 2,320.00 (531.00) 3,480.00 1,691.00 48.6%Total-CM-LM-SUPPLIES & MATERIALS227.90 365.00 (137.10) 2,053.55 3,045.00 (991.45) 4,505.00 2,451.45 54.4%632-CM-LM-REPAIRS & MAINTENANCE6325687 CM-LM-R&M-Drip Irrigation - 250.00 (250.00) 125.17 3,000.00 (2,874.83) 4,250.00 4,124.83 97.1%Total-CM-LM-REPAIRS & MAINTENANCE - 250.00 (250.00) 125.17 3,000.00 (2,874.83) 4,250.00 4,124.83 97.1%111,184.03 112,540.00 (1,355.97) 1,077,044.75 1,097,230.00 (20,185.25) 1,541,961.00 464,916.25 30.2% February Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget632-CM-WATER & ENERGY6337834 Utilities-Electricity-Pumping 2,851.25 4,000.00 (1,148.75) 21,594.38 28,300.00 (6,705.62) 42,300.00 20,705.62 48.9%6337842 Utilities-Water789.09 1,473.00 (683.91) 32,494.00 30,193.00 2,301.00 43,058.00 10,564.00 24.5%3,640.34 5,473.00 (1,832.66) 54,088.38 58,493.00 (4,404.62) 85,358.00 31,269.62 36.6%Silverrock ResortCourse Maintenance Expense StatementFebruary 2011Annual BudgetMonth to Date Year to DateSilverrock ResortCourse Maintenance Water & EnergyFebruary 2011Total-COURSE MAINTENANCETotal-CM-WATER & ENERGYMonth to Date Year to Date Annual Budget5 February Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense641-CBR-SALARIES & BENEFITS6411175 Employee Meals 720.00 720.00 - 4,560.00 4,560.00 - 6,960.00 2,400.00 34.5%6411320 Insurance-Group 291.37 662.00 (370.63) 4,321.97 5,296.00 (974.03) 7,944.00 3,622.03 45.6%6411325 Insurance-Workers Comp 497.56 565.00 (67.44) 2,841.70 3,212.00 (370.30) 5,096.00 2,254.30 44.2%6411800 Taxes-Employer Payroll 2,338.21 1,707.00 631.21 9,884.93 9,707.00 177.93 15,399.00 5,514.07 35.8%6411880 Wages-Hourly 15,495.00 13,710.00 1,785.00 79,072.46 77,969.00 1,103.46 123,689.00 44,616.54 36.1%6411882 Wages-Overtime 53.63 - 53.63 795.48 - 795.48 - (795.48) 0.0%Total-CBR-SALARIES & BENEFITS19,395.77 17,364.00 2,031.77 101,476.54 100,744.00 732.54 159,088.00 57,611.46 36.2%641-CBR-SUPPLIES & MATERIALS6413732 Supplies-Carts 15.19 75.00 (59.81) 2,192.80 2,150.00 42.80 2,350.00 157.20 6.7%6413742 Supplies-Expendable 276.23 1,000.00 (723.77) 5,557.86 5,450.00 107.86 6,750.00 1,192.14 17.7%6413752 Supplies-Range Balls - - - 7,495.01 6,000.00 1,495.01 6,000.00 (1,495.01) -24.9%6413762 Supplies-Office - 50.00 (50.00) 98.21 325.00 (226.79) 525.00 426.79 81.3%6413768 Supplies-Printing and Stationary - 70.00 (70.00) - 140.00 (140.00) 420.00 420.00 100.0%6413786 Supplies-Towels - 72.00 (72.00) - 717.00 (717.00) 1,005.00 1,005.00 100.0%6413796 Supplies-Bottled Water159.87 50.00 109.87 14,355.16 12,350.00 2,005.16 24,500.00 10,144.84 41.4%Total-CBR-SUPPLIES & MATERIALS451.29 1,317.00 (865.71) 29,699.04 27,132.00 2,567.04 41,550.00 11,850.96 28.5%641-CBR-REPAIRS & MAINTENANCE6415096 CBR-R&M-Contract Services-Carts 1,488.61 720.00 768.61 1,488.61 5,760.00 (4,271.39) 8,640.00 7,151.39 82.8%6415690 CBR-R&M-Equipment 14.12 300.00 (285.88) 1,103.38 2,400.00 (1,296.62) 3,600.00 2,496.62 69.4%6415695 CBR-R&M-Cart Maintenance & Repair 566.70 250.00 316.70 3,466.88 4,000.00 (533.12) 5,000.00 1,533.12 30.7%Total-CBR-REPAIRS & MAINTENANCE 2,069.43 1,270.00 799.43 6,058.87 12,160.00 (6,101.13) 17,240.00 11,181.13 64.9%641-CBR-OTHER EXPENSES6419094 Contract Services-Laundry/Linen 379.44 800.00 (420.56) 6,307.78 6,400.00 (92.22) 9,600.00 3,292.22 34.3%6419220 Freight/Delivery - - - 78.96 450.00 (371.04) 450.00 371.04 82.5%6419490 Miscellaneous 13.67 75.00 (61.33) 963.39 650.00 313.39 1,150.00 186.61 16.2%6419820 Uniforms - - - 2,257.34 3,000.00 (742.66) 5,200.00 2,942.66 56.6%Total-CBR-OTHER EXPENSES 393.11 875.00 (481.89) 9,607.47 10,500.00 (892.53) 16,400.00 6,792.53 41.4%TOTAL-CARTS,BAGROOM & RANGE 22,309.60 20,826.00 1,483.60 146,841.92 150,536.00 (3,694.08) 234,278.00 87,436.08 37.3%643-CS-SALARIES & BENEFITS6431175 Employee Meals 420.00 420.00 - 2,280.00 2,280.00 - 3,420.00 1,140.00 33.3%6431325 Insurance-Workers Comp 195.08 235.00 (39.92) 925.73 1,156.00 (230.27) 1,738.00 812.27 46.7%6431800 Taxes-Employer Payroll 864.00 711.00 153.00 3,631.50 3,494.00 137.50 5,251.00 1,619.50 30.8%6431880 Wages-Hourly 6,096.40 5,712.00 384.40 26,603.60 34,703.00 (8,099.40) 48,816.00 22,212.40 45.5%6431882 Wages-Overtime - - - 54.00 - 54.00 - (54.00) 0.0%Total-CS-SALARIES & BENEFITS7,575.48 7,078.00 497.48 33,494.83 41,633.00 (8,138.17) 59,225.00 25,730.17 43.4%643-CS-OTHER EXPENSES6433742 Supplies Expendable - 100.00 (100.00) 326.63 700.00 (373.37) 1,050.00 723.37 68.9%6439490 Miscellaneous - - - 26.23 200.00 (173.77) 200.00 173.77 86.9%6439718 Safety Equipment & Training - 50.00 (50.00) 254.05 400.00 (145.95) 600.00 345.95 57.7%6439820 Uniforms - 75.00 (75.00) 908.29 1,500.00 (591.71) 2,125.00 1,216.71 57.3%Total-CS-OTHER EXPENSES - 225.00 (225.00) 1,515.20 2,800.00 (1,284.80) 3,975.00 2,459.80 61.9%Total-COURSE SERVICES 7,575.48 7,303.00 272.48 35,010.03 44,433.00 (9,422.97) 63,200.00 28,189.97 44.6%29,885.08 28,129.00 1,756.08 181,851.95 194,969.00 (13,117.05) 297,478.00 113,166.25 38.0%TOTAL OUTSIDE SERVICESMonth to Date Year to DateSilverRock ResortOutside Services Expense StatementFebruary 2011Annual Budget6 February Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense65-CH-SUPPLIES & MATERIALS6503742 Supplies-Expendable- 400.00 (400.00) 1,654.51 3,200.00 (1,545.49) 4,800.00 3,145.49 65.5%Total-CH-SUPPLIES & MATERIALS - 400.00 (400.00) 1,654.51 3,200.00 (1,545.49) 4,800.00 3,145.49 65.5%65-CH-UTILITIES6507836 Utilities-Natural Gas583.21 300.00 283.21 3,276.24 2,400.00 876.24 3,600.00 323.76 9.0%6507840 Utilities-Telephone1,990.14 1,150.00 840.14 9,175.32 9,200.00 (24.68) 13,800.00 4,624.68 33.5%6507842 Utilities-Water507.69 321.00 186.69 8,067.20 2,568.00 5,499.20 3,852.00 (4,215.20) -109.4%6507844 Utilities-Cable336.37 340.00 (3.63) 2,691.78 2,720.00 (28.22) 4,080.00 1,388.22 34.0%Total-CH-UTILITIES 3,417.41 2,111.00 1,306.41 23,210.54 16,888.00 6,322.54 25,332.00 2,121.46 8.4%65-CH-OTHER EXPENSES6509091 Contract Services-Cleaning1,750.00 1,825.00 (75.00) 14,600.00 15,200.00 (600.00) 22,500.00 7,900.00 35.1%6509099 Contract Services-Security4,565.04 4,900.00 (334.96) 40,058.82 40,800.00 (741.18) 60,400.00 20,341.18 33.7%6509215 Flowers & Decorations- - - - 1,500.00 (1,500.00) 2,400.00 2,400.00 100.0%6509490 Miscellaneous- 200.00 (200.00) 1,253.79 1,600.00 (346.21) 2,400.00 1,146.21 47.8%6509718 Safety Equipment & Training- 100.00 (100.00) 359.85 800.00 (440.15) 1,200.00 840.15 70.0%Total-CH-OTHER EXPENSES 6,315.04 7,025.00 (709.96) 56,272.46 59,900.00 (3,627.54) 88,900.00 32,627.54 36.7%65-CH-REPAIRS & MAINTENANCE6515685 CH-R&M-Building Structures81.50 300.00 (218.50) 3,765.49 2,400.00 1,365.49 3,600.00 (165.49) -4.6%6515686 CH-R&M-Restaurant Repairs- 400.00 (400.00) 2,134.86 3,200.00 (1,065.14) 4,800.00 2,665.14 55.5%6515690 CH-R&M-Equipment Repair- 400.00 (400.00) 2,945.51 3,200.00 (254.49) 4,800.00 1,854.49 38.6%Total-CH-REPAIRS & MAINTENANCE 81.50 1,100.00 (1,018.50) 8,845.86 8,800.00 45.86 13,200.00 4,354.14 33.0%9,813.95 10,636.00 (822.05) 89,983.37 88,788.00 1,195.37 132,232.00 8,708.28 6.6%Total CLUBHOUSEMonth to Date Year to DateSilverRock ResortClubhouse Expense StatementFebruary 2011Annual Budget7 February Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense66-MKT-SALARIES & BENEFITS6601175 Employee Meals 60.00 60.00 - 480.00 480.00 - 720.00 240.00 33.3%6601320 Insurance-Group 296.27 331.00 (34.73) 2,552.87 2,648.00 (95.13) 3,972.00 1,419.13 35.7%6601325 Insurance-Workers Comp 80.51 103.00 (22.49) 778.71 824.00 (45.29) 1,240.00 461.29 37.2%6601720 Salaries 2,516.00 2,508.00 8.00 21,006.55 20,064.00 942.55 30,096.00 9,089.45 30.2%6601800 Taxes-Employer Payroll 470.45 312.00 158.45 2,866.83 2,496.00 370.83 3,747.00 880.17 23.5%Total-MKT-SALARIES & BENEFITS 3,423.23 3,314.00 109.23 27,684.96 26,512.00 1,172.96 39,775.00 12,090.04 30.4%66-MKT-SUPPLIES & MATERIALS6603762 Supplies-Office - 100.00 (100.00) 52.81 800.00 (747.19) 1,200.00 1,147.19 95.6%6603768 Supplies-Printing & Stationery - 125.00 (125.00) 5,144.86 3,925.00 1,219.86 4,425.00 (719.86) -16.3%- 225.00 (225.00) 5,197.67 4,725.00 472.67 5,625.00 427.33 7.6%66-MKT-UTILITIES6607840 Utilities-Telephone - 100.00 (100.00) 357.08 800.00 (442.92) 1,200.00 842.92 70.2%Total-MKT-UTILITIES - 100.00 (100.00) 357.08 800.00 (442.92) 1,200.00 842.92 70.2%66-MKT-OTHER EXPENSES6609010 Advertising 14,254.93 25,477.00 (11,222.07) 131,334.97 145,226.00 (13,891.03) 192,534.00 61,199.03 31.8%6609040 Business Meals - 25.00 (25.00) - 200.00 (200.00) 300.00 300.00 100.0%6609080 Collateral Material 1,524.60 500.00 1,024.60 2,351.10 6,500.00 (4,148.90) 9,000.00 6,648.90 73.9%6609102 Contract Services-Web Page 99.00 400.00 (301.00) 1,279.50 3,200.00 (1,920.50) 4,800.00 3,520.50 73.3%6609490 Miscellaneous - 50.00 (50.00) - 200.00 (200.00) 350.00 350.00 100.0%6609620 Postage - 50.00 (50.00) 283.62 400.00 (116.38) 600.00 316.38 52.7%6609630 Promotion - 50.00 (50.00) - 500.00 (500.00) 3,500.00 3,500.00 0.0%6609633 Promotion-Community 175.00 75.00 100.00 175.00 2,625.00 (2,450.00) 2,925.00 2,750.00 94.0%6609634 Promotion-Media/Vendor - 500.00 (500.00) 1,610.35 3,500.00 (1,889.65) 700.00 - 0.0%6609150 Dues and Subscriptions - 400.00 (400.00) 140.00 435.00 (295.00) 735.00 595.00 81.0%6609820 Uniforms - 50.00 (50.00) 210.72 500.00 (289.28) 600.00 389.28 64.9%Total-MKT-OTHER EXPENSES 16,053.53 27,577.00 (11,523.47) 137,385.26 163,286.00 (25,900.74) 216,044.00 79,569.09 36.8%19,476.76 31,216.00 (11,739.24) 170,624.97 195,323.00 (24,698.03) 262,644.00 92,929.38 35.4%Total-MARKETINGMonth to Date Year to DateSilverRock ResortMarketing Expense StatementFebruary 2011Annual Budget8 February Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense67-G&A-SALARIES & BENEFITS6701175 Employee Meals 180.00 180.00 - 1,440.00 1,440.00 - 2,160.00 720.00 33.3%6701320 Insurance-Group2,797.85 1,458.00 1,339.85 12,283.45 11,664.00 619.45 17,496.00 5,212.55 29.8%6701325 Insurance-Workers Comp580.14 707.00 (126.86) 4,691.49 5,656.00 (964.51) 8,480.00 3,788.51 44.7%6701720 Salaries 15,516.26 14,833.34 682.92 113,007.75 118,666.72 (5,658.97) 178,000.00 64,992.25 36.5%6701800 Taxes-Employer Payroll 1,575.67 2,136.00 (560.33) 10,981.66 17,088.00 (6,106.34) 25,627.00 14,645.34 57.1%6701880 Wages-Hourly2,613.15 2,319.66 293.49 15,048.13 18,557.28 (3,509.15) 27,835.00 12,786.87 45.9%6701882 Wages-Overtime - - - - - - - - 0.0%Total-G&A-SALARIES & BENEFITS 23,263.07 21,634.00 1,629.07 157,452.48 173,072.00 (15,619.52) 259,598.00 102,145.52 39.3%67-G&A-SUPPLIES & MATERIALS6703740 Supplies-Computer- 400.00 (400.00) 993.95 3,200.00 (2,206.05) 5,200.00 4,206.05 80.9%6703762 Supplies-Office 33.61 100.00 (66.39) 1,267.23 800.00 467.23 1,200.00 (67.23) -5.6%6703768 Supplies-Printing & Stationery119.99 400.00 (280.01) 1,362.14 1,700.00 (337.86) 3,300.00 1,937.86 58.7%Total-G&A-SUPPLIES & MATERIALS 153.60 900.00 (746.40) 3,623.32 5,700.00 (2,076.68) 9,700.00 6,076.68 62.6%67-G&A-REPAIRS & MAINTENANCE6705690 Repairs & Maintenance-Equipment- 100.00 (100.00) 522.50 700.00 (177.50) 1,100.00 577.50 52.5%Total-G&A-REPAIRS & MAINTENANCE - 100.00 (100.00) 522.50 700.00 (177.50) 1,100.00 577.50 52.5%67-G&A-OTHER EXPENSES6709020 Auto/Mileage Allowance400.00 400.00 - 3,200.00 3,200.00 - 4,800.00 1,600.00 33.3%6709150 Dues & Subscriptions280.00 400.00 (120.00) 651.71 1,050.00 (398.29) 1,700.00 1,048.29 61.7%6709180 Employee Recruiting/Relocation56.00 200.00 (144.00) 476.00 1,200.00 (724.00) 1,400.00 924.00 66.0%6709197 Equipment Rental337.76 480.00 (142.24) 4,637.68 3,840.00 797.68 5,760.00 1,122.32 19.5%6709202 Fees-Bank51.18 90.00 (38.82) 536.99 720.00 (183.01) 1,080.00 543.01 50.3%6709208 Fees-Payroll Processing1,128.99 760.00 368.99 9,866.57 6,080.00 3,786.57 9,120.00 (746.57) -8.2%6709220 Freight/Delivery10.51 50.00 (39.49) 10.51 400.00 (389.49) 600.00 589.49 98.2%6709490 Miscellaneous - 100.00 (100.00) 186.84 800.00 (613.16) 1,200.00 1,013.16 84.4%6709620 Postage/Mail Services 210.02 75.00 135.02 986.24 600.00 386.24 900.00 (86.24) -9.6%6709625 Professional Fees676.75 850.00 (173.25) 9,660.25 6,800.00 2,860.25 10,200.00 539.75 5.3%6709636 Promotion/Entertainment- 100.00 (100.00) 2,085.00 2,700.00 (615.00) 3,100.00 1,015.00 32.7%6709722 Seminars & Training250.00 200.00 50.00 610.00 1,600.00 (990.00) 2,400.00 1,790.00 74.6%6709810 Travel - 100.00 (100.00) - 200.00 (200.00) 1,100.00 1,100.00 100.0%6709820 Uniforms - 75.00 (75.00) 650.98 750.00 (99.02) 1,050.00 399.02 38.0%Total-G&A-OTHER EXPENSES 3,401.21 3,880.00 (478.79) 33,558.77 29,940.00 3,618.77 44,410.00 10,851.23 24.4%26,817.88 26,514.00 303.88 195,157.07 209,412.00 (14,254.93) 314,808.00 119,650.93 38.0%Total-GENERAL & ADMINISTRATIVEMonth to Date Year to DateSilverRock ResortGeneral & Administrative Expense StatementFebruary 2011Annual Budget9 February Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense68-LEASES6800192 Equipment Leases-Carts 11,091.63 13,000.00 (1,908.37) 74,342.00 98,324.00 (23,982.00) 150,324.00 75,982.00 50.5%6800194 Equipment Leases-Trailer 540.00 600.00 (60.00) 4,300.00 4,800.00 (500.00) 7,200.00 2,900.00 40.3%6800196 Equipment Leases-GPS 5,290.50 6,400.00 (1,109.50) 55,231.00 64,616.00 (9,385.00) 90,216.00 34,985.00 38.8%6800197 Equipment Leases-Others 2,244.73 - 2,244.73 17,145.13 - 17,145.13 - - 0.0%19,166.86 20,000.00 (833.14) 151,018.13 167,740.00 (16,721.87) 247,740.00 113,867.00 46.0%69-MISC OTHER EXPENSES6900096 Contract Srvcs-Management Fee (626.65) (3,896.00) 3,269.35 71,114.09 79,708.00 (8,593.91) 90,000.00 18,885.91 21.0%6900210 FF&E Reserve 9,178.93 9,384.00 (205.07) 32,844.48 34,086.00 (1,241.52) 62,229.00 29,384.52 47.2%6900800 Personal Property Taxes - - - 15,519.02 13,570.00 1,949.02 13,570.00 (1,949.02) -14.4%6900323 Insurance-Commercial 2,605.10 2,200.00 405.10 18,278.92 17,600.00 678.92 26,400.00 8,121.08 30.8%11,157.38 7,688.00 3,469.38 137,756.51 144,964.00 (7,207.49) 192,199.00 54,442.49 28.3%Silverrock ResortOperating Leases & Miscellaneous Other Expense StatementFebruary 2011Annual BudgetMonth to Date Year to DateTotal-LEASESTotal-MISC OTHER EXPENSES10 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report-2010-20112010 2010 2010 2010 2010 2010Comp CategoryJulyAugustSeptemberOctoberNovemberDecemberMedia4Sales4PromotionGolf Industry85 4VIPCelebrityPGA Comp68 72 76 30 58Charity/Gift Certificate12 44 45Rain/Wind Checks34 4Club Staff77 68 96 3 69 119LQ HS Golf20153 148 208 3 155 2262011 2011 2011 2011 2011 2011Comp CategoryJanuaryFebruaryMarchAprilMayJuneMedia4SalesPromotionGolf Industry4VIPCelebrity1PGA Comp29 32Charity/Gift Certificate21 18Rain/Wind Checks3Club Staff51 108LQ HS Golf61101231000011 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report-2010-2011February 2011 Date Time Description CategoryPlayers2/20/2011 12:15 John White Media 42/10/2011 12:00 Michael Dante Celebrity 112