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09 March 2011 SilverRock Resort - Monthly Financial Statement
Monthly Financial Statements July 2010 – March 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 March Final Budget Variance Percentages Unfavorable (-) Favorable (+) Final Budget Variance Annual Budget Unemcumb. % Bdgt Income400000 Golf Green Fee Revenue586,562.03 548,995.00 37,567.03 6.8% 2,228,784.73 2,253,253.00 (24,468.27) 3,111,458.00 882,673.27 72%401000 Miscellaneous Golf Revenue 27,568.00 19,840.00 7,728.00 39.0% 115,557.13 96,091.00 19,466.13 117,656.00 2,098.87 98%410000 Revenue-Golf Shop 52,010.96 45,725.00 6,285.96 13.7% 229,905.00 225,556.00 4,349.00 306,492.00 76,587.00 75%420000 Revenue-F&B Concession1,500.00 1,500.00 - 0.0% 10,500.00 10,500.00 - 12,000.00 1,500.00 88%890000 Interest Income4.52 - 4.52 0.0% 42.40 - 42.40 - (42.40) 0%Total Income667,645.51 616,060.00 51,585.51 8.4% 2,584,789.26 2,585,400.00 (610.74) 3,547,606.00 962,816.74 73%Cost of Goods Sold510000 COS-Golf Shop 28,901.51 24,268.75 4,632.76 -19.1% 126,422.71 119,711.80 (6,710.91) 162,670.60 36,247.89 78%Total COS28,901.51 24,268.75 4,632.76 -19.1% 126,422.71 119,711.80 (6,710.91) 162,670.60 36,247.89 78%Gross Profit638,744.00 591,791.25 46,952.75 7.9% 2,458,366.55 2,465,688.20 (7,321.65) 3,384,935.40 926,568.85 73%Expenses610000 Golf Pro Shop 20,834.50 20,530.00 (304.50) -1.5% 152,328.47 169,517.00 17,188.53 230,213.00 77,884.53 66%630000 Course Maintenance110,646.22 108,842.00 (1,804.22) -1.7% 1,187,647.19 1,206,072.00 18,424.81 1,541,961.00 354,313.81 77%633000 Maintenance Water & Energy5,947.93 5,550.00 (397.93) -7.2% 60,036.31 64,043.00 4,006.69 85,358.00 25,321.69 70%640000 Outside Services29,324.33 27,804.00 (1,520.33) -5.5% 211,176.28 222,773.00 11,596.72 297,478.00 86,301.72 71%650000 Clubhouse 11,041.97 11,136.00 94.03 0.8% 101,025.34 99,924.00 (1,101.34) 132,232.00 31,206.66 76%660000 Marketing 22,264.51 22,866.00 601.49 2.6% 192,889.48 218,189.00 25,299.52 262,644.00 69,754.52 73%670000 General & Administrative26,802.94 26,064.00 (738.94) -2.8% 221,991.74 235,476.00 13,484.26 314,808.00 92,816.26 71%680000 Leases 11,773.44 20,000.00 8,226.56 41.1% 157,038.15 187,740.00 30,701.85 247,740.00 90,701.85 63%690000 Miscellaneous Other Expense2,217.82 2,353.00 135.18 5.7% 139,974.33 147,317.00 7,342.67 192,199.00 52,224.67 73%Total Expenses240,853.66 245,145.00 4,291.34 1.8% 2,424,107.29 2,551,051.00 126,943.71 3,304,633.00 880,525.71 73%397,890.34 346,646.25 51,244.09 14.8%34,259.26 (85,362.80) 119,622.06 80,302.40 46,043.14 43%Rounds of Golf PlayedPaid Rounds Played 6,351 5,900 451 7.6% 31,331 30,525 806 39,150 7,819 80%Ave $ Per Paid Round Green Fee92.36 93.05 (0.69) -0.7% 71.14 73.82 (2.68) 76.13 4.99 93%Ave $ Per Paid Round Merchandise8.19 7.75 0.44 5.7% 7.34 7.39 (0.05) 8.07 0.73 91%Ave $ Per Paid Miscellaneous 4.34 3.36 0.98 29.1% 3.69 3.15 0.54 2.06 - 0%SilverRock ResortSummary Operating Income StatementNet IncomeMonth to Date Year to DateMarch 20111 Income March Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4000000 Revenue-Fees 586,562.03 548,995.00 37,567.03 2,228,784.73 2,253,253.00 (24,468.27) 3,111,458.00882,673.2772%4010000 Rider Fee 1,400.00 590.00 810.00 7,625.00 5,367.00 2,258.00 6,522.00-1,103.00117%4040000 Club Rental 4,315.00 5,900.00 (1,585.00) 17,040.00 21,649.00 (4,609.00) 28,004.0010,964.0061%4050000 Driving Range 14,593.00 8,850.00 5,743.00 58,654.00 36,575.00 22,079.00 48,130.00-10,524.00122%4080000 GPS Advertising - 1,000.00 (1,000.00) - 12,000.00 (12,000.00) 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 7,260.00 3,500.00 3,760.00 29,585.00 17,500.00 12,085.00 19,000.00 -10,585.00 156%4092000 Golf Lessons - - - 577.75 - 577.75 - (577.75) 0% Total Revenue Fees 614,130.03 568,835.00 45,295.03 2,344,341.86 2,349,344.00 (5,002.14) 3,229,114.00 884,772.14 73%614,130.03 568,835.00 45,295.03 2,344,341.86 2,349,344.00 (5,002.14) 3,229,114.00 884,772.14 73%Total IncomeMonth to Date Year to Date Annual BudgetSilverRock ResortStatement of Fees RevenueMarch 20112 Income March Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4100000 Sales Miscellaneous 466.00 - 466.00 3,720.55 - 3,720.55 0 0 0%4100110 Sales Hard Goods 13,685.90 16,004.00 (2,318.10) 72,570.97 78,945.00 (6,374.03) 107,272.00 34,701.03 68%4100112 Sales-Soft Goods 45,652.69 29,721.00 15,931.69 185,292.32 146,611.00 38,681.32 199,220.00 13,927.68 93%5100639 GS-Discounts-Mdse (7,793.63) - (7,793.63) (31,678.84) - (31,678.84) - 31,678.84 0% Total Revenue Golf Shop 52,010.96 45,725.00 6,285.96 229,905.00 225,556.00 4,349.00 306,492.00 80,307.55 74%COS 5100150 COS-GS-Hard Goods 6,444.59 8,802.20 (2,357.61) 36,005.31 43,419.75 (7,414.44) 58,999.60 22,994.29 61%5100151 COS-GS-Soft Goods 22,217.31 16,346.55 5,870.76 86,641.54 80,636.05 6,005.49 109,571.00 22,929.46 79%5100152 COS-GS-Purchase Disc (249.79) (1,257.00) 1,007.21 (1,877.77) (6,203.00) 4,325.23 (8,429.00) (6,551.23) -22%5100220 COS-GS-Freight Merch 489.40 377.00 112.40 5,653.63 1,859.00 3,794.63 2,529.00 (3,124.63) 224%Cost of Sales - Golf Shop 28,901.51 24,268.75 4,632.76 126,422.71 119,711.80 6,710.91 162,670.60 36,247.89 78%Gross Profit 23,109.45 21,456.25 1,653.20 103,482.29 105,844.20 (2,361.91) 143,821.40 44,059.66 69%COS % 55.6% 53.1% -2.5% 55.0% 53.1% -1.9% 53.1% 45.1% 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 2,872.44 2,317.00 555.44 21,212.50 19,860.00 1,352.50 26,811.00 5,598.50 79%6101325 Insurance-Workers Comp 433.62 577.00 (143.38) 3,578.37 4,555.00 (976.63) 6,131.00 2,552.63 58%6101720 Salaries 3,900.00 3,750.00 150.00 33,689.44 33,750.00 (60.56) 45,000.00 11,310.56 75%6101800 Taxes-Employer Payroll 1,783.11 1,743.00 40.11 10,520.32 13,763.00 (3,242.68) 18,528.00 8,007.68 57%6101880 Wages-Hourly 9,551.84 10,253.00 (701.16) 65,938.05 76,789.00 (10,850.95) 103,818.00 37,879.95 64%6101882 Wages-Overtime 98.63 - 98.63 1,431.61 - 1,431.61 - 952.88 0%Total -PS-SALARIES & BENEFITS 19,119.64 19,120.00 (0.36) 140,390.29 152,737.00 (12,346.71) 205,688.00 67,682.20 67%61-PS OTHER EXPENSES6103742 Supplies-Expendable - - - 189.74 - 189.74 - (189.74) 0%6103762 Supplies-Office 541.76 500.00 41.76 2,502.62 4,500.00 (1,997.38) 6,000.00 3,497.38 42%6109090 Contract Services 500.00 500.00 - 4,500.00 4,500.00 - 6,000.00 1,500.00 75%6109220 Freight & Delivery 205.91 - 205.91 689.19 75.00 614.19 75.00 (614.19) 919%6109490 Miscellaneous 67.20 50.00 17.20 267.12 300.00 (32.88) 450.00 182.88 59%6109150 Dues and Subscriptions - - - - - - 2,300.00 2,300.00 0%6109500 ProShop-Over/Short (24.18) - (24.18) (8.44) - (8.44) - 8.44 0%6109722 Seminars/Training - 35.00 (35.00) 545.07 4,570.00 (4,024.93) 5,890.00 5,344.93 9%6109810 Travel - Merchandise - 15.00 (15.00) - 45.00 (45.00) 90.00 90.00 0%6109820 Uniforms 314.29 200.00 114.29 2,154.85 1,800.00 354.85 2,400.00 245.15 90%6117840 Telephones 109.88 110.00 (0.12) 1,098.03 990.00 108.03 1,320.00 221.97 0%Total PS-OTHER EXPENSES 1,714.86 1,410.00 304.86 11,938.18 16,780.00 (4,841.82) 24,525.00 12,586.82 49%20,834.50 20,530.00 304.50 152,328.47 169,517.00 (17,188.53) 230,213.00 80,269.02 65%Net Income2,274.95 926.25 1,348.70 (48,846.18) (63,672.80) 14,826.62 (86,391.60) (36,209.36) -58%Total Expenses-Golf ShopMonth to Date Year to Date Annual BudgetSilverRock ResortGolf Shop Income StatementMarch 20113 March Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense63-CM-SALARIES & BENEFITS6311175 Employee Meals 240.00 240.00 - 2,160.00 2,160.00 - 2,880.00 720.00 25.0%6311320 Insurance-Group 7,653.82 8,740.00 (1,086.18) 76,111.32 78,660.00 (2,548.68) 104,880.00 28,768.68 27.4%6311325 Insurance-Workers Comp 1,771.82 2,238.00 (466.18) 18,668.41 20,847.00 (2,178.59) 27,638.00 8,969.59 32.5%6311720 Salaries 12,101.76 12,583.00 (481.24) 106,348.80 113,247.00 (6,898.20) 150,996.00 44,647.20 29.6%6311800 Taxes-Employer Payroll 5,816.34 6,762.00 (945.66) 50,895.42 63,531.00 (12,635.58) 84,168.00 33,272.58 39.5%6311880 Wages-Hourly 43,260.28 41,730.00 1,530.28 388,228.20 384,268.00 3,960.20 509,458.00 121,229.80 23.8%6311882 Wages-Overtime 7.31 - 7.31 21,332.89 12,792.00 8,540.89 15,598.00 (5,734.89) -36.8%Total-CM-SALARIES & BENEFITS70,851.33 72,293.00 (1,441.67) 663,745.04 675,505.00 (11,759.96) 895,618.00 231,872.96 25.9%63-CM-SUPPLIES & MATERIALS6313734 Chemicals 2,079.28 1,500.00 579.28 29,257.02 24,400.00 4,857.02 29,300.00 42.98 0.1%6313744 Fertilizer 5,665.64 5,000.00 665.64 69,608.39 74,400.00 (4,791.61) 89,400.00 19,791.61 22.1%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 2,950.00 (1,696.11) 3,050.00 1,796.11 58.9%6313748 Fuel-Gasoline 3,077.60 3,100.00 (22.40) 35,744.13 33,780.00 1,964.13 43,100.00 7,355.87 17.1%6313750 Golf Course Accessories 117.73 100.00 17.73 12,166.88 12,000.00 166.88 12,300.00 133.12 1.1%6313756 POA Control 215.41 - 215.41 8,666.14 7,000.00 1,666.14 7,000.00 (1,666.14) -23.8%6313758 Miscellaneous Supp 621.58 100.00 521.58 8,606.65 4,050.00 4,556.65 4,350.00 (4,256.65) 0.0%6313762 Supplies-Office 113.05 - 113.05 387.92 - 387.92 - (387.92) 0.0%6313774 Sand 394.83 100.00 294.83 5,263.01 11,160.00 (5,896.99) 11,460.00 6,196.99 54.1%6313776 Seed - 350.00 (350.00) 96,436.13 90,760.00 5,676.13 91,810.00 (4,626.13) -5.0%6313778 Small Tools & Non-Capital Equip 261.27 100.00 161.27 4,388.88 4,700.00 (311.12) 5,000.00 611.12 12.2%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 & MATERIALS12,546.39 10,450.00 2,096.39 294,897.25 284,850.00 10,047.25 319,720.00 24,822.75 7.8%63-CM-REPAIRS & MAINTENANCE6315095 CM-R&M-Contract Lake Maint 1,575.00 1,303.00 272.00 15,526.24 16,817.00 (1,290.76) 24,610.00 9,083.76 36.9%6315685 CM-R&M-Bldngs & Othr Structures 90.50 - 90.50 1,575.69 1,250.00 325.69 1,750.00 174.31 10.0%6315690 CM-R&M-Equipment 1,864.69 1,000.00 864.69 24,042.98 16,000.00 8,042.98 20,500.00 (3,542.98) -17.3%6315692 CM-R&M-Irrigation System 1,059.10 1,000.00 59.10 11,702.58 13,050.00 (1,347.42) 16,050.00 4,347.42 27.1%6315696 CM-R&M-Pumps 279.12 1,000.00 (720.88) 5,818.30 9,000.00 (3,181.70) 10,500.00 4,681.70 44.6%6315815 CM-R&M-Trees-Pruning Etc 1,954.41 2,000.00 (45.59) 5,449.41 6,050.00 (600.59) 10,050.00 4,600.59 45.8%Total-CM-REPAIRS & MAINTENANCE 6,822.82 6,303.00 519.82 64,115.20 62,167.00 1,948.20 83,460.00 19,344.80 23.2%63-CM-UTILTIES6317836 Utilities-Natural Gas/LPG - 15.00 (15.00) 195.14 135.00 60.14 180.00 (15.14) 0.0%6317840 Telephones 1,197.17 850.00 347.17 9,437.68 7,650.00 1,787.68 10,200.00 762.32 7.5%Total-CM-UTILITIES 1,197.17 865.00 332.17 9,632.82 7,785.00 1,847.82 10,380.00 747.18 7.2%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%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) 4,024.05 4,725.00 (700.95) 6,288.00 2,263.95 0.0%6319150 Dues & Subscriptions 210.00 - 210.00 555.00 240.00 315.00 540.00 (15.00) -2.8%6319170 Employee Education - 50.00 (50.00) 1,355.32 1,400.00 (44.68) 1,550.00 194.68 12.6%6319197 Equipment Rental - 200.00 (200.00) 2,747.39 3,700.00 (952.61) 4,200.00 1,452.61 34.6%6319206 Licenses & Permits - 1,000.00 (1,000.00) 353.03 1,280.00 (926.97) 1,430.00 1,076.97 75.3%6319490 Miscellaneous - 100.00 (100.00) 618.23 900.00 (281.77) 1,200.00 581.77 48.5%6319718 Safety Equipment & Training 394.77 200.00 194.77 2,878.75 3,550.00 (671.25) 3,850.00 971.25 25.2%6319822 Uniforms 1,417.77 820.00 597.77 9,731.21 7,380.00 2,351.21 9,840.00 108.79 1.1%Total-CM-OTHER EXPENSES 2,993.79 3,395.00 (401.21) 28,262.98 29,675.00 (1,412.02) 38,898.00 10,635.02 27.3%Month to Date Year to DateSilverRock ResortCourse Maintenance Expense StatementMarch 2011Annual Budget4 March Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget632-CM-LANDSCAPE MAINTENANCE632-CM-LM-SALARIES & BENEFITS6321320 Insurance-Group 1,615.33 2,317.00 (701.67) 18,577.06 20,853.00 (2,275.94) 27,804.00 9,226.94 33.2%6321325 Insurance-Workers Comp 409.21 445.00 (35.79) 3,205.03 4,129.00 (923.97) 5,487.00 2,281.97 41.6%6321800 Taxes-Employer Payroll 881.19 1,346.00 (464.81) 8,049.40 12,670.00 (4,620.60) 16,811.00 8,761.60 52.1%6321880 Wages-Hourly 12,787.72 10,813.00 1,974.72 90,365.08 97,317.00 (6,951.92) 129,756.00 39,390.92 30.4%6321882 Wages-Overtime - - - 4,077.34 4,461.00 (383.66) 5,272.00 1,194.66 22.7%Total-CM-LM-SALARIES & BENEFITS15,693.45 14,921.00 772.45 124,273.91 139,430.00 (15,156.09) 185,130.00 60,856.09 32.9%632-CM-LM-SUPPLIES & MATERIALS6323778 Small Tools 263.36 75.00 188.36 527.91 800.00 (272.09) 1,025.00 497.09 48.5%6323788 Uniforms 277.91 290.00 (12.09) 2,066.91 2,610.00 (543.09) 3,480.00 1,413.09 40.6%Total-CM-LM-SUPPLIES & MATERIALS541.27 365.00 176.27 2,594.82 3,410.00 (815.18) 4,505.00 1,910.18 42.4%632-CM-LM-REPAIRS & MAINTENANCE6325687 CM-LM-R&M-Drip Irrigation - 250.00 (250.00) 125.17 3,250.00 (3,124.83) 4,250.00 4,124.83 97.1%Total-CM-LM-REPAIRS & MAINTENANCE - 250.00 (250.00) 125.17 3,250.00 (3,124.83) 4,250.00 4,124.83 97.1%110,646.22 108,842.00 1,804.22 1,187,647.19 1,206,072.00 (18,424.81) 1,541,961.00 354,313.81 23.0% March Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget632-CM-WATER & ENERGY6337834 Utilities-Electricity-Pumping 2,597.04 4,000.00 (1,402.96) 24,191.42 32,300.00 (8,108.58) 42,300.00 18,108.58 42.8%6337842 Utilities-Water3,350.89 1,550.00 1,800.89 35,844.89 31,743.00 4,101.89 43,058.00 7,213.11 16.8%5,947.93 5,550.00 397.93 60,036.31 64,043.00 (4,006.69) 85,358.00 25,321.69 29.7%Total-CM-WATER & ENERGYMonth to Date Year to Date Annual BudgetSilverrock ResortCourse Maintenance Water & EnergyMarch 2011Total-COURSE MAINTENANCESilverrock ResortCourse Maintenance Expense StatementMarch 2011Annual BudgetMonth to Date Year to Date5 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 413.43 662.00 (248.57) 4,735.40 5,958.00 (1,222.60) 7,944.00 3,208.60 40.4%6411325 Insurance-Workers Comp 440.81 565.00 (124.19) 3,282.51 3,777.00 (494.49) 5,096.00 1,813.49 35.6%6411800 Taxes-Employer Payroll 2,203.81 1,707.00 496.81 12,088.74 11,414.00 674.74 15,399.00 3,310.26 21.5%6411880 Wages-Hourly 13,569.77 13,710.00 (140.23) 92,642.23 91,679.00 963.23 123,689.00 31,046.77 25.1%6411882 Wages-Overtime 205.51 - 205.51 1,000.99 - 1,000.99 - (1,000.99) 0.0%Total-CBR-SALARIES & BENEFITS17,553.33 17,364.00 189.33 119,029.87 118,108.00 921.87 159,088.00 40,058.13 25.2%641-CBR-SUPPLIES & MATERIALS6413732 Supplies-Carts - 50.00 (50.00) 2,192.80 2,200.00 (7.20) 2,350.00 157.20 6.7%6413742 Supplies-Expendable 1,088.58 150.00 938.58 6,646.44 5,600.00 1,046.44 6,750.00 103.56 1.5%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) 98.21 375.00 (276.79) 525.00 426.79 81.3%6413768 Supplies-Printing and Stationary - 70.00 (70.00) - 210.00 (210.00) 420.00 420.00 100.0%6413786 Supplies-Towels - 72.00 (72.00) - 789.00 (789.00) 1,005.00 1,005.00 100.0%6413796 Supplies-Bottled Water189.82 50.00 139.82 14,544.98 12,400.00 2,144.98 24,500.00 9,955.02 40.6%Total-CBR-SUPPLIES & MATERIALS1,278.40 442.00 836.40 30,977.44 27,574.00 3,403.44 41,550.00 10,572.56 25.4%641-CBR-REPAIRS & MAINTENANCE6415096 CBR-R&M-Contract Services-Carts - 720.00 (720.00) 1,488.61 6,480.00 (4,991.39) 8,640.00 7,151.39 82.8%6415690 CBR-R&M-Equipment 225.00 300.00 (75.00) 1,328.38 2,700.00 (1,371.62) 3,600.00 2,271.62 63.1%6415695 CBR-R&M-Cart Maintenance & Repair 1,021.74 250.00 771.74 4,488.62 4,250.00 238.62 5,000.00 511.38 10.2%Total-CBR-REPAIRS & MAINTENANCE 1,246.74 1,270.00 (23.26) 7,305.61 13,430.00 (6,124.39) 17,240.00 9,934.39 57.6%641-CBR-OTHER EXPENSES6419094 Contract Services-Laundry/Linen 1,522.70 800.00 722.70 7,830.48 7,200.00 630.48 9,600.00 1,769.52 18.4%6419220 Freight/Delivery 187.14 - 187.14 266.10 450.00 (183.90) 450.00 183.90 40.9%6419490 Miscellaneous 300.00 125.00 175.00 1,263.39 775.00 488.39 1,150.00 (113.39) -9.9%6419820 Uniforms - 500.00 (500.00) 2,257.34 3,500.00 (1,242.66) 5,200.00 2,942.66 56.6%Total-CBR-OTHER EXPENSES 2,009.84 1,425.00 584.84 11,617.31 11,925.00 (307.69) 16,400.00 4,782.69 29.2%TOTAL-CARTS,BAGROOM & RANGE 22,088.31 20,501.00 1,587.31 168,930.23 171,037.00 (2,106.77) 234,278.00 65,347.77 27.9%643-CS-SALARIES & BENEFITS6431175 Employee Meals 420.00 420.00 - 2,700.00 2,700.00 - 3,420.00 720.00 21.1%6431325 Insurance-Workers Comp 185.19 235.00 (49.81) 1,110.92 1,391.00 (280.08) 1,738.00 627.08 36.1%6431800 Taxes-Employer Payroll 843.63 711.00 132.63 4,475.13 4,205.00 270.13 5,251.00 775.87 14.8%6431880 Wages-Hourly 5,787.20 5,712.00 75.20 32,390.80 40,415.00 (8,024.20) 48,816.00 16,425.20 33.6%6431882 Wages-Overtime - - - 54.00 - 54.00 - (54.00) 0.0%Total-CS-SALARIES & BENEFITS7,236.02 7,078.00 158.02 40,730.85 48,711.00 (7,980.15) 59,225.00 18,494.15 31.2%643-CS-OTHER EXPENSES6433742 Supplies Expendable - 100.00 (100.00) 326.63 800.00 (473.37) 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) 254.05 450.00 (195.95) 600.00 345.95 57.7%6439820 Uniforms - 75.00 (75.00) 908.29 1,575.00 (666.71) 2,125.00 1,216.71 57.3%Total-CS-OTHER EXPENSES - 225.00 (225.00) 1,515.20 3,025.00 (1,509.80) 3,975.00 2,459.80 61.9%Total-COURSE SERVICES 7,236.02 7,303.00 (66.98) 42,246.05 51,736.00 (9,489.95) 63,200.00 20,953.95 33.2%29,324.33 27,804.00 1,520.33 211,176.28 222,773.00 (11,596.72) 297,478.00 83,841.92 28.2%TOTAL OUTSIDE SERVICESMonth to Date Year to DateSilverRock ResortOutside Services Expense StatementMarch 2011Annual Budget6 March Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense65-CH-SUPPLIES & MATERIALS6503742 Supplies-Expendable- 400.00 (400.00) 1,654.51 3,600.00 (1,945.49) 4,800.00 3,145.49 65.5%Total-CH-SUPPLIES & MATERIALS - 400.00 (400.00) 1,654.51 3,600.00 (1,945.49) 4,800.00 3,145.49 65.5%65-CH-UTILITIES6507836 Utilities-Natural Gas- 300.00 (300.00) 3,276.24 2,700.00 576.24 3,600.00 323.76 9.0%6507840 Utilities-Telephone1,236.41 1,150.00 86.41 10,411.73 10,350.00 61.73 13,800.00 3,388.27 24.6%6507842 Utilities-Water570.11 321.00 249.11 8,637.31 2,889.00 5,748.31 3,852.00 (4,785.31) -124.2%6507844 Utilities-Cable269.03 340.00 (70.97) 2,960.81 3,060.00 (99.19) 4,080.00 1,119.19 27.4%Total-CH-UTILITIES 2,075.55 2,111.00 (35.45) 25,286.09 18,999.00 6,287.09 25,332.00 45.91 0.2%65-CH-OTHER EXPENSES6509091 Contract Services-Cleaning1,825.00 1,825.00 - 16,425.00 17,025.00 (600.00) 22,500.00 6,075.00 27.0%6509099 Contract Services-Security5,710.04 4,900.00 810.04 45,768.86 45,700.00 68.86 60,400.00 14,631.14 24.2%6509215 Flowers & Decorations- 500.00 (500.00) - 2,000.00 (2,000.00) 2,400.00 2,400.00 100.0%6509490 Miscellaneous130.00 200.00 (70.00) 1,383.79 1,800.00 (416.21) 2,400.00 1,016.21 42.3%6509718 Safety Equipment & Training- 100.00 (100.00) 359.85 900.00 (540.15) 1,200.00 840.15 70.0%Total-CH-OTHER EXPENSES 7,665.04 7,525.00 140.04 63,937.50 67,425.00 (3,487.50) 88,900.00 24,962.50 28.1%65-CH-REPAIRS & MAINTENANCE6515685 CH-R&M-Building Structures730.50 300.00 430.50 4,495.99 2,700.00 1,795.99 3,600.00 (895.99) -24.9%6515686 CH-R&M-Restaurant Repairs65.00 400.00 (335.00) 2,199.86 3,600.00 (1,400.14) 4,800.00 2,600.14 54.2%6515690 CH-R&M-Equipment Repair505.88 400.00 105.88 3,451.39 3,600.00 (148.61) 4,800.00 1,348.61 28.1%Total-CH-REPAIRS & MAINTENANCE 1,301.38 1,100.00 201.38 10,147.24 9,900.00 247.24 13,200.00 3,052.76 23.1%11,041.97 11,136.00 (94.03) 101,025.34 99,924.00 1,101.34 132,232.00 6,105.52 4.6%Total CLUBHOUSEMonth to Date Year to DateSilverRock ResortClubhouse Expense StatementMarch 2011Annual 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 300.37 331.00 (30.63) 2,853.24 2,979.00 (125.76) 3,972.00 1,118.76 28.2%6601325 Insurance-Workers Comp 76.82 103.00 (26.18) 855.53 927.00 (71.47) 1,240.00 384.47 31.0%6601720 Salaries 2,400.78 2,508.00 (107.22) 23,407.33 22,572.00 835.33 30,096.00 6,688.67 22.2%6601800 Taxes-Employer Payroll 278.44 312.00 (33.56) 3,145.27 2,808.00 337.27 3,747.00 601.73 16.1%Total-MKT-SALARIES & BENEFITS 3,116.41 3,314.00 (197.59) 30,801.37 29,826.00 975.37 39,775.00 8,973.63 22.6%66-MKT-SUPPLIES & MATERIALS6603762 Supplies-Office - 100.00 (100.00) 52.81 900.00 (847.19) 1,200.00 1,147.19 95.6%6603768 Supplies-Printing & Stationery - 125.00 (125.00) 5,144.86 4,050.00 1,094.86 4,425.00 (719.86) -16.3%- 225.00 (225.00) 5,197.67 4,950.00 247.67 5,625.00 427.33 7.6%66-MKT-UTILITIES6607840 Utilities-Telephone 48.92 100.00 (51.08) 406.00 900.00 (494.00) 1,200.00 794.00 66.2%Total-MKT-UTILITIES 48.92 100.00 (51.08) 406.00 900.00 (494.00) 1,200.00 794.00 66.2%66-MKT-OTHER EXPENSES6609010 Advertising 16,663.18 17,727.00 (1,063.82) 147,998.15 162,953.00 (14,954.85) 192,534.00 44,535.85 23.1%6609040 Business Meals - 25.00 (25.00) - 225.00 (225.00) 300.00 300.00 100.0%6609080 Collateral Material 2,337.00 500.00 1,837.00 4,688.10 7,000.00 (2,311.90) 9,000.00 4,311.90 47.9%6609102 Contract Services-Web Page 99.00 400.00 (301.00) 1,378.50 3,600.00 (2,221.50) 4,800.00 3,421.50 71.3%6609490 Miscellaneous - 50.00 (50.00) - 250.00 (250.00) 350.00 350.00 100.0%6609620 Postage - 50.00 (50.00) 283.62 450.00 (166.38) 600.00 316.38 52.7%6609630 Promotion - 50.00 (50.00) - 550.00 (550.00) 3,500.00 3,500.00 0.0%6609633 Promotion-Community - 75.00 (75.00) 175.00 2,700.00 (2,525.00) 2,925.00 2,750.00 94.0%6609634 Promotion-Media/Vendor - - - 1,610.35 3,500.00 (1,889.65) 700.00 - 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) 210.72 550.00 (339.28) 600.00 389.28 64.9%Total-MKT-OTHER EXPENSES 19,099.18 19,227.00 (127.82) 156,484.44 182,513.00 (26,028.56) 216,044.00 60,469.91 28.0%22,264.51 22,866.00 (601.49) 192,889.48 218,189.00 (25,299.52) 262,644.00 70,664.87 26.9%Total-MARKETINGMonth to Date Year to DateSilverRock ResortMarketing Expense StatementMarch 2011Annual 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-Group2,850.25 1,458.00 1,392.25 15,133.70 13,122.00 2,011.70 17,496.00 2,362.30 13.5%6701325 Insurance-Workers Comp579.52 707.00 (127.48) 5,271.01 6,363.00 (1,091.99) 8,480.00 3,208.99 37.8%6701720 Salaries 15,682.76 14,833.34 849.42 128,690.51 133,500.06 (4,809.55) 178,000.00 49,309.49 27.7%6701800 Taxes-Employer Payroll 1,528.71 2,136.00 (607.29) 12,510.37 19,224.00 (6,713.63) 25,627.00 13,116.63 51.2%6701880 Wages-Hourly2,427.30 2,319.66 107.64 17,475.43 20,876.94 (3,401.51) 27,835.00 10,359.57 37.2%6701882 Wages-Overtime - - - - - - - - 0.0%Total-G&A-SALARIES & BENEFITS 23,248.54 21,634.00 1,614.54 180,701.02 194,706.00 (14,004.98) 259,598.00 78,896.98 30.4%67-G&A-SUPPLIES & MATERIALS6703740 Supplies-Computer- 400.00 (400.00) 993.95 3,600.00 (2,606.05) 5,200.00 4,206.05 80.9%6703762 Supplies-Office 281.65 100.00 181.65 1,548.88 900.00 648.88 1,200.00 (348.88) -29.1%6703768 Supplies-Printing & Stationery84.79 400.00 (315.21) 1,446.93 2,100.00 (653.07) 3,300.00 1,853.07 56.2%Total-G&A-SUPPLIES & MATERIALS 366.44 900.00 (533.56) 3,989.76 6,600.00 (2,610.24) 9,700.00 5,710.24 58.9%67-G&A-REPAIRS & MAINTENANCE6705690 Repairs & Maintenance-Equipment- 100.00 (100.00) 522.50 800.00 (277.50) 1,100.00 577.50 52.5%Total-G&A-REPAIRS & MAINTENANCE - 100.00 (100.00) 522.50 800.00 (277.50) 1,100.00 577.50 52.5%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) 651.71 1,100.00 (448.29) 1,700.00 1,048.29 61.7%6709180 Employee Recruiting/Relocation112.00 200.00 (88.00) 588.00 1,400.00 (812.00) 1,400.00 812.00 58.0%6709197 Equipment Rental621.70 480.00 141.70 5,259.38 4,320.00 939.38 5,760.00 500.62 8.7%6709202 Fees-Bank55.81 90.00 (34.19) 592.80 810.00 (217.20) 1,080.00 487.20 45.1%6709208 Fees-Payroll Processing1,247.42 760.00 487.42 11,113.99 6,840.00 4,273.99 9,120.00 (1,993.99) -21.9%6709220 Freight/Delivery- 50.00 (50.00) 10.51 450.00 (439.49) 600.00 589.49 98.2%6709490 Miscellaneous 7.58 100.00 (92.42) 194.42 900.00 (705.58) 1,200.00 1,005.58 83.8%6709620 Postage/Mail Services 98.00 75.00 23.00 1,084.24 675.00 409.24 900.00 (184.24) -20.5%6709625 Professional Fees645.45 850.00 (204.55) 10,305.70 7,650.00 2,655.70 10,200.00 (105.70) -1.0%6709636 Promotion/Entertainment- 100.00 (100.00) 2,085.00 2,800.00 (715.00) 3,100.00 1,015.00 32.7%6709722 Seminars & Training- 200.00 (200.00) 610.00 1,800.00 (1,190.00) 2,400.00 1,790.00 74.6%6709810 Travel - - - - 200.00 (200.00) 1,100.00 1,100.00 100.0%6709820 Uniforms - 75.00 (75.00) 682.71 825.00 (142.29) 1,050.00 367.29 35.0%Total-G&A-OTHER EXPENSES 3,187.96 3,430.00 (242.04) 36,778.46 33,370.00 3,408.46 44,410.00 7,631.54 17.2%26,802.94 26,064.00 738.94 221,991.74 235,476.00 (13,484.26) 314,808.00 92,816.26 29.5%Total-GENERAL & ADMINISTRATIVEMonth to Date Year to DateSilverRock ResortGeneral & Administrative Expense StatementMarch 2011Annual Budget9 March Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense68-LEASES6800192 Equipment Leases-Carts 5,801.13 13,000.00 (7,198.87) 80,143.13 111,324.00 (31,180.87) 150,324.00 70,180.87 46.7%6800194 Equipment Leases-Trailer 540.00 600.00 (60.00) 4,840.00 5,400.00 (560.00) 7,200.00 2,360.00 32.8%6800196 Equipment Leases-GPS 5,290.50 6,400.00 (1,109.50) 55,231.00 71,016.00 (15,785.00) 90,216.00 34,985.00 38.8%6800197 Equipment Leases-Others 141.81 - 141.81 16,824.02 - 16,824.02 - - 0.0%11,773.44 20,000.00 (8,226.56) 157,038.15 187,740.00 (30,701.85) 247,740.00 107,525.87 43.4%69-MISC OTHER EXPENSES6900096 Contract Srvcs-Management Fee (11,751.26) (10,827.00) (924.26) 59,362.83 68,881.00 (9,518.17) 90,000.00 30,637.17 34.0%6900210 FF&E Reserve 11,363.98 10,980.00 383.98 44,208.46 45,066.00 (857.54) 62,229.00 18,020.54 29.0%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 20,884.02 19,800.00 1,084.02 26,400.00 5,515.98 20.9%2,217.82 2,353.00 (135.18) 139,974.33 147,317.00 (7,342.67) 192,199.00 52,224.67 27.2%Annual BudgetMonth to Date Year to DateTotal-LEASESTotal-MISC OTHER EXPENSESSilverrock ResortOperating Leases & Miscellaneous Other Expense StatementMarch 201110 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 CategoryJanuaryFebruaryMarchAprilMayJuneMedia43SalesPromotionGolf Industry4VIPCelebrity11PGA Comp29 3255Charity/Gift Certificate21 1823Rain/Wind Checks39Club Staff51 108106LQ HS Golf61 131101 231 328 0 0 011 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report-2010-2011March 2011 Date Time Description CategoryPlayers3/3/2011 11:15 Kris Long Media 33/27/2011 2:30 Tommy John Celebrity 1