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08 February 2012 SilverRock Resort - Monthly Financial Statement Monthly Financial Statements July 2011 – February 2012 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 Revenue512,801.80 469,271.00 43,530.80 9.3% 1,919,975.11 1,816,815.00 103,160.11 3,326,982.00 1,407,006.89 58%401000 Miscellaneous Golf Revenue 31,610.25 18,373.00 13,237.25 72.0% 111,197.76 91,421.00 19,776.76 146,537.00 35,339.24 76%410000 Revenue-Golf Shop 50,422.81 44,188.00 6,234.81 14.1% 171,939.68 165,370.00 6,569.68 310,919.00 138,979.32 55%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 Income0.56 - 0.56 0.0% 22.27 - 22.27 - (22.27) 0%Total Income596,335.42 533,332.00 63,003.42 11.8% 2,212,134.82 2,082,606.00 129,528.82 3,796,438.00 1,584,303.18 58%Cost of Goods Sold510000 COS-Golf Shop 31,158.93 23,453.40 7,705.53 -32.9% 99,122.67 87,768.50 (11,354.17) 165,020.45 65,897.78 60%Total COS31,158.93 23,453.40 7,705.53 -32.9% 99,122.67 87,768.50 (11,354.17) 165,020.45 65,897.78 60%Gross Profit565,176.49 509,878.60 55,297.89 10.8% 2,113,012.15 1,994,837.50 118,174.65 3,631,417.55 1,518,405.40 58%Expenses610000 Golf Pro Shop 18,778.49 19,910.00 1,131.51 5.7% 126,664.25 144,480.00 17,815.75 223,325.00 96,660.75 57%630000 Course Maintenance126,488.40 117,016.00 (9,472.40) -8.1% 1,178,278.46 1,180,072.00 1,793.54 1,638,879.00 460,600.54 72%633000 Maintenance Water & Energy16,499.43 22,489.00 5,989.57 26.6% 138,450.36 177,615.00 39,164.64 270,449.00 131,998.64 51%640000 Outside Services29,326.93 26,906.00 (2,420.93) -9.0% 183,971.44 181,587.00 (2,384.44) 281,023.00 97,051.56 65%650000 Clubhouse 10,755.60 10,636.00 (119.60) -1.1% 83,972.40 88,788.00 4,815.60 132,232.00 48,259.60 64%660000 Marketing 23,900.37 24,766.00 865.63 3.5% 150,085.15 183,664.00 33,578.85 254,820.00 104,734.85 59%670000 General & Administrative25,065.09 26,502.00 1,436.91 5.4% 201,632.51 209,316.00 7,683.49 314,669.00 113,036.49 64%680000 Leases 19,429.79 19,590.00 160.21 0.8% 153,582.64 156,720.00 3,137.36 235,080.00 81,497.36 65%690000 Miscellaneous Other Expense5,835.10 6,733.00 897.90 13.3% 142,953.84 152,309.00 9,355.16 197,740.00 54,786.16 72%Total Expenses276,079.20 274,548.00 (1,531.20) -0.6% 2,359,591.05 2,474,551.00 114,959.95 3,548,217.00 1,188,625.95 67%289,097.29 235,330.60 53,766.69 22.8%(246,578.90) (479,713.50) 233,134.60 83,200.55 329,779.45 -296%Rounds of Golf PlayedPaid Rounds Played 5,285 5,051 234 4.6% 27,688 26,130 1,558 45,625 17,937 61%Ave $ Per Paid Round Green Fee97.03 92.91 4.12 4.4% 69.34 69.53 (0.19) 72.92 3.58 95%Ave $ Per Paid Round Merchandise9.54 8.75 0.79 9.1% 6.21 6.33 (0.12) 6.81 0.60 91%Ave $ Per Paid Miscellaneous 5.98 3.64 2.34 64.4% 4.02 3.50 0.52 3.21 (0.80) 0%SilverRock ResortSummary Operating Income StatementNet IncomeMonth to Date Year to DateFebruary 20121 Income February Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4000000 Revenue-Fees 512,801.80 469,271.00 43,530.80 1,919,975.11 1,816,815.00 103,160.11 3,326,982.001,407,006.8958%4010000 Rider Fee 1,075.00 1,263.00 (188.00) 8,125.00 4,568.00 3,557.00 7,446.00-679.00109%4040000 Club Rental 3,634.00 2,525.00 1,109.00 14,124.00 13,064.00 1,060.00 22,813.008,689.0062%4050000 Driving Range 15,845.00 8,585.00 7,260.00 51,079.00 42,789.00 8,290.00 73,278.0022,199.0070%4060000 Handicap Fees - - - 1,600.00 - 1,600.00 0.000.000%4080000 GPS Advertising 500.00 1,000.00 (500.00) 2,554.48 11,000.00 (8,445.52) 12,000.00 9,445.5221%4090000 Ball Retriever/Subcontract - - - 1,840.40 3,000.00 (1,159.60) 4,000.00 2,159.6046%4091000 Golf Professional Rental Fee 10,556.25 5,000.00 5,556.25 30,496.75 17,000.00 13,496.75 27,000.00 -3,496.75 113%4092000 Golf Lessons - - - 1,378.13 - 1,378.13 - (1,378.13) 0% Total Revenue Fees 544,412.05 487,644.00 56,768.05 2,031,172.87 1,908,236.00 122,936.87 3,473,519.00 1,443,946.13 58%544,412.05 487,644.00 56,768.05 2,031,172.87 1,908,236.00 122,936.87 3,473,519.00 1,443,946.13 58%Total IncomeMonth to Date Year to Date Annual BudgetSilverRock ResortStatement of Fees RevenueFebruary 20122 Income February Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4100000 Sales Miscellaneous 737.37 - 737.37 2,460.42 - 2,460.42 0 0 0%4100110 Sales Hard Goods 19,234.80 15,466.00 3,768.80 68,259.06 57,880.00 10,379.06 108,822.00 40,562.94 63%4100112 Sales-Soft Goods 41,201.05 28,722.00 12,479.05 130,911.59 107,490.00 23,421.59 202,097.00 71,185.41 65%5100639 GS-Discounts-Mdse (10,750.41) - (10,750.41) (29,691.39) - (29,691.39) - 29,691.39 0% Total Revenue Golf Shop 50,422.81 44,188.00 6,234.81 171,939.68 165,370.00 6,569.68 310,919.00 141,439.74 55%COS 5100150 COS-GS-Hard Goods 10,595.88 8,506.30 2,089.58 37,421.31 31,834.00 5,587.31 59,852.10 22,430.79 63%5100151 COS-GS-Soft Goods 19,983.73 15,797.10 4,186.63 59,612.41 59,119.50 492.91 111,153.35 51,540.94 54%5100152 COS-GS-Purchase Disc (43.32) (1,215.00) 1,171.68 (794.85) (4,550.00) 3,755.15 (8,550.00) (7,755.15) -9%5100220 COS-GS-Freight Merch 622.64 365.00 257.64 2,883.80 1,365.00 1,518.80 2,565.00 (318.80) 112%Cost of Sales - Golf Shop 31,158.93 23,453.40 7,705.53 99,122.67 87,768.50 11,354.17 165,020.45 65,897.78 60%Gross Profit 19,263.88 20,734.60 (1,470.72) 72,817.01 77,601.50 (4,784.49) 145,898.55 75,541.96 48%COS % 61.8% 53.1% -8.7% 57.6% 53.1% -4.6% 53.1% 46.6% 12%Expense61-PS-SALARIES & BENEFITS6101320 Insurance Group 2,402.29 2,317.00 85.29 20,064.78 17,543.00 2,521.78 26,811.00 6,746.22 75%6101325 Insurance-Workers Comp 501.70 577.00 (75.30) 3,327.25 3,978.00 (650.75) 6,131.00 2,803.75 54%6101720 Salaries 3,663.62 3,750.00 (86.38) 30,845.38 30,000.00 845.38 45,000.00 14,154.62 69%6101800 Taxes-Employer Payroll 1,991.06 1,603.00 388.06 8,915.27 11,053.00 (2,137.73) 17,040.00 8,124.73 52%6101880 Wages-Hourly 9,168.00 10,253.00 (1,085.00) 53,298.05 66,536.00 (13,237.95) 103,818.00 50,519.95 51%6101882 Wages-Overtime 197.63 - 197.63 650.50 - 650.50 - 952.88 0%Total -PS-SALARIES & BENEFITS 17,924.30 18,500.00 (575.70) 117,101.23 129,110.00 (12,008.77) 198,800.00 83,302.15 58%61-PS OTHER EXPENSES6103742 Supplies-Expendable - - - - - - - - 0%6103762 Supplies-Office 214.79 500.00 (285.21) 2,054.93 4,000.00 (1,945.07) 6,000.00 3,945.07 34%6109090 Contract Services 500.00 500.00 - 4,000.00 4,000.00 - 6,000.00 2,000.00 67%6109220 Freight & Delivery 5.75 - 5.75 576.07 75.00 501.07 75.00 (501.07) 768%6109490 Miscellaneous - 50.00 (50.00) 506.23 250.00 256.23 450.00 (56.23) 112%6109150 Dues and Subscriptions - - - - - - 2,300.00 2,300.00 0%6109500 ProShop-Over/Short 12.04 - 12.04 98.31 - 98.31 - (98.31) 0%6109722 Seminars/Training - 35.00 (35.00) 36.71 4,535.00 (4,498.29) 5,890.00 5,853.29 1%6109810 Travel - Merchandise - 15.00 (15.00) - 30.00 (30.00) 90.00 90.00 0%6109820 Uniforms - 200.00 (200.00) 1,275.13 1,600.00 (324.87) 2,400.00 1,124.87 53%6117840 Telephones 121.61 110.00 11.61 1,015.64 880.00 135.64 1,320.00 304.36 0%Total PS-OTHER EXPENSES 854.19 1,410.00 (555.81) 9,563.02 15,370.00 (5,806.98) 24,525.00 14,961.98 39%18,778.49 19,910.00 (1,131.51) 126,664.25 144,480.00 (17,815.75) 223,325.00 98,264.13 56%Net Income485.39 824.60 (339.21) (53,847.24) (66,878.50) 13,031.26 (77,426.45) (22,722.17) -71%Total Expenses-Golf ShopMonth to Date Year to Date Annual BudgetSilverRock ResortGolf Shop Income StatementFebruary 20123 February Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense63-CM-SALARIES & BENEFITS6311320 Insurance-Group 8,316.59 8,740.00 (423.41) 69,085.81 69,920.00 (834.19) 104,880.00 35,794.19 34.1%6311325 Insurance-Workers Comp 1,937.02 2,268.00 (330.98) 14,995.96 18,872.00 (3,876.04) 28,026.00 13,030.04 46.5%6311720 Salaries 11,368.32 12,583.00 (1,214.68) 95,713.92 100,664.00 (4,950.08) 150,996.00 55,282.08 36.6%6311800 Taxes-Employer Payroll 6,517.50 6,304.00 213.50 44,982.88 52,954.00 (7,971.12) 78,501.00 33,518.12 42.7%6311880 Wages-Hourly 42,423.64 42,473.00 (49.36) 354,879.17 348,742.00 6,137.17 518,654.00 163,774.83 31.6%6311882 Wages-Overtime 25.32 - 25.32 11,206.42 13,076.00 (1,869.58) 15,945.00 4,738.58 29.7%Total-CM-SALARIES & BENEFITS70,588.39 72,368.00 (1,779.61) 590,864.16 604,228.00 (13,363.84) 897,002.00 306,137.84 34.1%63-CM-SUPPLIES & MATERIALS6313734 Chemicals 3,196.59 2,000.00 1,196.59 25,870.93 22,900.00 2,970.93 29,300.00 3,429.07 11.7%6313744 Fertilizer 15,840.25 10,000.00 5,840.25 92,969.72 84,400.00 8,569.72 104,400.00 11,430.28 10.9%6313745 Herbicides - - - 17,751.38 17,000.00 751.38 17,000.00 (751.38) -4.4%6313746 Flowers/Plants - 100.00 (100.00) 3,031.69 2,850.00 181.69 3,050.00 18.31 0.6%6313748 Fuel-Gasoline 4,272.50 3,250.00 1,022.50 37,533.63 35,000.00 2,533.63 48,800.00 11,266.37 23.1%6313750 Golf Course Accessories 258.60 100.00 158.60 14,638.80 11,900.00 2,738.80 12,300.00 (2,338.80) -19.0%6313756 POA Control - - - 8,212.10 7,000.00 1,212.10 7,000.00 (1,212.10) -17.3%6313758 Miscellaneous Supp 1,716.54 100.00 1,616.54 6,926.05 3,950.00 2,976.05 4,350.00 (2,576.05) 0.0%6313762 Supplies-Office - - - 271.11 - 271.11 - (271.11) 0.0%6313774 Sand - 100.00 (100.00) 11,809.00 16,060.00 (4,251.00) 16,460.00 4,651.00 28.3%6313776 Seed - 350.00 (350.00) 106,201.53 105,410.00 791.53 106,810.00 608.47 0.6%6313778 Small Tools & Non-Capital Equip - 100.00 (100.00) 4,350.44 4,600.00 (249.56) 5,000.00 649.56 13.0%6313780 Sod 569.92 - 569.92 7,045.81 5,650.00 1,395.81 6,350.00 (695.81) -11.0%6313782 Topdressing - - - 3,842.05 5,000.00 (1,157.95) 7,600.00 3,757.95 49.4%Total-CM-SUPPLIES & MATERIALS25,854.40 16,100.00 9,754.40 340,454.24 321,720.00 18,734.24 368,420.00 27,965.76 7.6%63-CM-REPAIRS & MAINTENANCE6315095 CM-R&M-Contract Lake Maint - 2,600.00 (2,600.00) 19,720.00 20,800.00 (1,080.00) 31,200.00 11,480.00 36.8%6315685 CM-R&M-Bldngs & Othr Structures 3,120.76 250.00 2,870.76 3,986.26 1,250.00 2,736.26 1,750.00 (2,236.26) -127.8%6315690 CM-R&M-Equipment 1,833.43 1,000.00 833.43 23,561.49 15,000.00 8,561.49 20,500.00 (3,061.49) -14.9%6315692 CM-R&M-Irrigation System 553.38 1,000.00 (446.62) 14,340.31 18,650.00 (4,309.69) 22,650.00 8,309.69 36.7%6315696 CM-R&M-Pumps - 1,000.00 (1,000.00) 6,800.20 8,000.00 (1,199.80) 10,500.00 3,699.80 35.2%6315815 CM-R&M-Trees-Pruning Etc - - - 2,295.00 4,050.00 (1,755.00) 10,050.00 7,755.00 77.2%Total-CM-REPAIRS & MAINTENANCE 5,507.57 5,850.00 (342.43) 70,703.26 67,750.00 2,953.26 96,650.00 25,946.74 26.8%63-CM-UTILTIES6317836 Utilities-Natural Gas/LPG 25.33 15.00 10.33 152.64 120.00 32.64 180.00 27.36 0.0%6317840 Telephones 1,155.32 850.00 305.32 9,590.95 6,800.00 2,790.95 10,200.00 609.05 6.0%Total-CM-UTILITIES 1,180.65 865.00 315.65 9,743.59 6,920.00 2,823.59 10,380.00 636.41 6.1%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 - - - 2,000.00 2,000.00 - 4,000.00 2,000.00 50.0%6319102 Contract Svcs-Trash Removal 1,146.36 524.00 622.36 6,806.91 4,192.00 2,614.91 6,288.00 (518.91) 0.0%6319150 Dues & Subscriptions - 240.00 (240.00) 560.00 240.00 320.00 540.00 (20.00) -3.7%6319170 Employee Education - 1,000.00 (1,000.00) 59.00 1,350.00 (1,291.00) 1,550.00 1,491.00 96.2%6319197 Equipment Rental - 200.00 (200.00) 2,695.38 3,500.00 (804.62) 4,200.00 1,504.62 35.8%6319206 Licenses & Permits - - - - 280.00 (280.00) 1,430.00 1,430.00 100.0%6319490 Miscellaneous 546.77 100.00 446.77 1,954.18 800.00 1,154.18 1,200.00 (754.18) -62.8%6319718 Safety Equipment & Training 392.17 200.00 192.17 2,620.88 3,350.00 (729.12) 3,850.00 1,229.12 31.9%6319822 Uniforms 754.62 920.00 (165.38) 8,306.81 7,360.00 946.81 11,040.00 2,733.19 24.8%Total-CM-OTHER EXPENSES 3,339.92 3,684.00 (344.08) 29,003.16 27,072.00 1,931.16 40,098.00 11,094.84 27.7%Month to Date Year to DateSilverRock ResortCourse Maintenance Expense StatementFebruary 2012Annual Budget4 February Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget632-CM-LANDSCAPE MAINTENANCE632-CM-LM-SALARIES & BENEFITS6321320 Insurance-Group 2,958.24 2,648.00 310.24 17,680.37 21,184.00 (3,503.63) 31,776.00 14,095.63 44.4%6321325 Insurance-Workers Comp 640.93 531.00 109.93 3,456.60 4,393.00 (936.40) 6,543.00 3,086.40 47.2%6321800 Taxes-Employer Payroll 2,074.34 1,475.00 599.34 10,402.42 12,407.00 (2,004.58) 18,416.00 8,013.58 43.5%6321880 Wages-Hourly 13,945.31 12,880.00 1,065.31 100,330.07 103,040.00 (2,709.93) 154,560.00 54,229.93 35.1%6321882 Wages-Overtime 10.97 - 10.97 2,349.10 5,313.00 (2,963.90) 6,279.00 3,929.90 62.6%Total-CM-LM-SALARIES & BENEFITS19,629.79 17,534.00 2,095.79 134,218.56 146,337.00 (12,118.44) 217,574.00 83,355.44 38.3%632-CM-LM-SUPPLIES & MATERIALS6323778 Small Tools - 75.00 (75.00) 175.20 725.00 (549.80) 1,025.00 849.80 82.9%6323788 Uniforms 162.34 290.00 (127.66) 1,818.39 2,320.00 (501.61) 3,480.00 1,661.61 47.7%Total-CM-LM-SUPPLIES & MATERIALS162.34 365.00 (202.66) 1,993.59 3,045.00 (1,051.41) 4,505.00 2,511.41 55.7%632-CM-LM-REPAIRS & MAINTENANCE6325687 CM-LM-R&M-Drip Irrigation 225.34 250.00 (24.66) 1,297.90 3,000.00 (1,702.10) 4,250.00 2,952.10 69.5%Total-CM-LM-REPAIRS & MAINTENANCE 225.34 250.00 (24.66) 1,297.90 3,000.00 (1,702.10) 4,250.00 2,952.10 69.5%126,488.40 117,016.00 9,472.40 1,178,278.46 1,180,072.00 (1,793.54) 1,638,879.00 460,600.54 28.1% February Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget632-CM-WATER & ENERGY6337834 Utilities-Electricity-Pumping 14,077.27 21,016.00 (6,938.73) 103,089.10 147,422.00 (44,332.90) 227,391.00 124,301.90 54.7%6337842 Utilities-Water2,422.16 1,473.00 949.16 35,361.26 30,193.00 5,168.26 43,058.00 7,696.74 17.9%16,499.43 22,489.00 (5,989.57) 138,450.36 177,615.00 (39,164.64) 270,449.00 131,998.64 48.8%Total-CM-WATER & ENERGYMonth to Date Year to Date Annual BudgetSilverrock ResortCourse Maintenance Water & EnergyFebruary 2012Total-COURSE MAINTENANCESilverrock ResortCourse Maintenance Expense StatementFebruary 2012Annual BudgetMonth to Date Year to Date5 February Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense641-CBR-SALARIES & BENEFITS6411320 Insurance-Group 420.69 662.00 (241.31) 3,472.53 5,296.00 (1,823.47) 7,944.00 4,471.47 56.3%6411325 Insurance-Workers Comp 401.15 565.00 (163.85) 2,915.90 3,212.00 (296.10) 5,096.00 2,180.10 42.8%6411800 Taxes-Employer Payroll 2,170.50 1,707.00 463.50 10,319.62 9,707.00 612.62 15,399.00 5,079.38 33.0%6411880 Wages-Hourly 13,868.70 13,710.00 158.70 80,903.66 77,969.00 2,934.66 123,689.00 42,785.34 34.6%6411882 Wages-Overtime 99.56 - 99.56 794.45 - 794.45 - (794.45) 0.0%Total-CBR-SALARIES & BENEFITS16,960.60 16,644.00 316.60 98,406.16 96,184.00 2,222.16 152,128.00 53,721.84 35.3%641-CBR-SUPPLIES & MATERIALS6413732 Supplies-Carts - 75.00 (75.00) 1,058.54 2,150.00 (1,091.46) 2,350.00 1,291.46 55.0%6413742 Supplies-Expendable 1,577.60 1,000.00 577.60 7,775.26 5,450.00 2,325.26 6,750.00 (1,025.26) -15.2%6413752 Supplies-Range Balls - - - 7,745.85 9,000.00 (1,254.15) 9,000.00 1,254.15 13.9%6413762 Supplies-Office - 50.00 (50.00) - 325.00 (325.00) 525.00 525.00 100.0%6413768 Supplies-Printing and Stationary - 70.00 (70.00) 70.40 140.00 (69.60) 420.00 349.60 83.2%6413786 Supplies-Towels 400.00 72.00 328.00 2,320.00 717.00 1,603.00 1,005.00 (1,315.00) -130.8%6413796 Supplies-Bottled Water29.98 50.00 (20.02) 11,881.97 12,350.00 (468.03) 24,500.00 12,618.03 51.5%Total-CBR-SUPPLIES & MATERIALS2,007.58 1,317.00 690.58 30,852.02 30,132.00 720.02 44,550.00 13,697.98 30.7%641-CBR-REPAIRS & MAINTENANCE6415690 CBR-R&M-Equipment 2,355.15 300.00 2,055.15 3,476.34 2,400.00 1,076.34 3,600.00 123.66 3.4%6415695 CBR-R&M-Cart Maintenance & Repair - 750.00 (750.00) 3,373.10 6,750.00 (3,376.90) 9,750.00 6,376.90 65.4%Total-CBR-REPAIRS & MAINTENANCE 2,355.15 1,050.00 1,305.15 6,849.44 9,150.00 (2,300.56) 13,350.00 6,500.56 48.7%641-CBR-OTHER EXPENSES6419094 Contract Services-Laundry/Linen 743.56 800.00 (56.44) 5,517.88 6,400.00 (882.12) 9,600.00 4,082.12 42.5%6419220 Freight/Delivery - - - - 450.00 (450.00) 450.00 450.00 100.0%6419490 Miscellaneous - 75.00 (75.00) 451.78 650.00 (198.22) 1,150.00 698.22 60.7%6419820 Uniforms 234.38 - 234.38 2,597.37 3,000.00 (402.63) 5,200.00 2,602.63 50.1%Total-CBR-OTHER EXPENSES 977.94 875.00 102.94 8,567.03 10,500.00 (1,932.97) 16,400.00 7,832.97 47.8%TOTAL-CARTS,BAGROOM & RANGE 22,301.27 19,886.00 2,415.27 144,674.65 145,966.00 (1,291.35) 226,428.00 81,753.35 36.1%643-CS-SALARIES & BENEFITS6431320 Insurance-Group - - - - - - - - 0.0%6431325 Insurance-Workers Comp 358.70 242.00 116.70 2,092.04 1,170.00 922.04 1,805.00 (287.04) -15.9%6431800 Taxes-Employer Payroll 772.55 673.00 99.55 4,120.02 3,251.00 869.02 5,015.00 894.98 17.8%6431880 Wages-Hourly 5,340.93 5,880.00 (539.07) 30,586.93 28,400.00 2,186.93 43,800.00 13,213.07 30.2%6431882 Wages-Overtime - - - - - - - - 0.0%Total-CS-SALARIES & BENEFITS6,472.18 6,795.00 (322.82) 36,798.99 32,821.00 3,977.99 50,620.00 13,821.01 27.3%643-CS-OTHER EXPENSES6433742 Supplies Expendable - 100.00 (100.00) 629.14 700.00 (70.86) 1,050.00 420.86 40.1%6439490 Miscellaneous 461.89 - 461.89 493.26 200.00 293.26 200.00 (293.26) -146.6%6439718 Safety Equipment & Training 91.59 50.00 41.59 91.59 400.00 (308.41) 600.00 508.41 84.7%6439820 Uniforms - 75.00 (75.00) 1,283.81 1,500.00 (216.19) 2,125.00 841.19 39.6%Total-CS-OTHER EXPENSES 553.48 225.00 328.48 2,497.80 2,800.00 (302.20) 3,975.00 1,477.20 37.2%Total-COURSE SERVICES 7,025.66 7,020.00 5.66 39,296.79 35,621.00 3,675.79 54,595.00 15,298.21 28.0%29,326.93 26,906.00 2,420.93 183,971.44 181,587.00 2,384.44 281,023.00 95,574.36 34.0%TOTAL OUTSIDE SERVICESMonth to Date Year to DateSilverRock ResortOutside Services Expense StatementFebruary 2012Annual Budget6 February Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense65-CH-SUPPLIES & MATERIALS6503742 Supplies-Expendable- 400.00 (400.00) 901.04 3,200.00 (2,298.96) 4,800.00 3,898.96 81.2%Total-CH-SUPPLIES & MATERIALS - 400.00 (400.00) 901.04 3,200.00 (2,298.96) 4,800.00 3,898.96 81.2%65-CH-UTILITIES6507836 Utilities-Natural Gas475.37 300.00 175.37 3,145.51 2,400.00 745.51 3,600.00 454.49 12.6%6507840 Utilities-Telephone1,173.96 1,150.00 23.96 8,870.17 9,200.00 (329.83) 13,800.00 4,929.83 35.7%6507842 Utilities-Water342.10 321.00 21.10 2,932.93 2,568.00 364.93 3,852.00 919.07 23.9%6507844 Utilities-Cable336.91 340.00 (3.09) 2,695.16 2,720.00 (24.84) 4,080.00 1,384.84 33.9%Total-CH-UTILITIES 2,328.34 2,111.00 217.34 17,643.77 16,888.00 755.77 25,332.00 7,688.23 30.3%65-CH-OTHER EXPENSES6509091 Contract Services-Cleaning1,825.00 1,825.00 - 12,775.00 15,200.00 (2,425.00) 22,500.00 9,725.00 43.2%6509099 Contract Services-Security4,565.04 4,900.00 (334.96) 42,498.52 40,800.00 1,698.52 60,400.00 17,901.48 29.6%6509215 Flowers & Decorations- - - - 1,500.00 (1,500.00) 2,400.00 2,400.00 100.0%6509490 Miscellaneous14.03 200.00 (185.97) 616.89 1,600.00 (983.11) 2,400.00 1,783.11 74.3%6509718 Safety Equipment & Training127.19 100.00 27.19 127.19 800.00 (672.81) 1,200.00 1,072.81 89.4%Total-CH-OTHER EXPENSES 6,531.26 7,025.00 (493.74) 56,017.60 59,900.00 (3,882.40) 88,900.00 32,882.40 37.0%65-CH-REPAIRS & MAINTENANCE6515685 CH-R&M-Building Structures1,896.00 300.00 1,596.00 5,461.61 2,400.00 3,061.61 3,600.00 (1,861.61) -51.7%6515686 CH-R&M-Restaurant Repairs- 400.00 (400.00) 1,086.01 3,200.00 (2,113.99) 4,800.00 3,713.99 77.4%6515690 CH-R&M-Equipment Repair- 400.00 (400.00) 2,862.37 3,200.00 (337.63) 4,800.00 1,937.63 40.4%Total-CH-REPAIRS & MAINTENANCE 1,896.00 1,100.00 796.00 9,409.99 8,800.00 609.99 13,200.00 3,790.01 28.7%10,755.60 10,636.00 119.60 83,972.40 88,788.00 (4,815.60) 132,232.00 7,580.02 5.7%Total CLUBHOUSEMonth to Date Year to DateSilverRock ResortClubhouse Expense StatementFebruary 2012Annual Budget7 February Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense66-MKT-SALARIES & BENEFITS6601320 Insurance-Group 369.78 331.00 38.78 2,428.26 2,648.00 (219.74) 3,972.00 1,543.74 38.9%6601325 Insurance-Workers Comp 180.55 103.00 77.55 1,230.38 824.00 406.38 1,240.00 9.62 0.8%6601720 Salaries 3,042.18 2,508.00 534.18 18,103.04 20,064.00 (1,960.96) 30,096.00 11,992.96 39.8%6601800 Taxes-Employer Payroll 602.90 287.00 315.90 2,251.12 2,296.00 (44.88) 3,446.00 1,194.88 34.7%Total-MKT-SALARIES & BENEFITS 4,195.41 3,229.00 966.41 24,012.80 25,832.00 (1,819.20) 38,754.00 14,741.20 38.0%66-MKT-SUPPLIES & MATERIALS6603762 Supplies-Office - 100.00 (100.00) 80.96 800.00 (719.04) 1,200.00 1,119.04 93.3%6603768 Supplies-Printing & Stationery 258.24 125.00 133.24 3,966.43 3,925.00 41.43 4,425.00 458.57 10.4%258.24 225.00 33.24 4,047.39 4,725.00 (677.61) 5,625.00 1,577.61 28.0%66-MKT-UTILITIES6607840 Utilities-Telephone 105.50 100.00 5.50 654.94 800.00 (145.06) 1,200.00 545.06 45.4%Total-MKT-UTILITIES 105.50 100.00 5.50 654.94 800.00 (145.06) 1,200.00 545.06 45.4%66-MKT-OTHER EXPENSES6609010 Advertising 18,652.22 19,112.00 (459.78) 113,208.36 134,247.00 (21,038.64) 185,731.00 72,522.64 39.0%6609040 Business Meals - 25.00 (25.00) - 200.00 (200.00) 300.00 300.00 100.0%6609080 Collateral Material 465.00 500.00 (35.00) 5,275.65 6,500.00 (1,224.35) 9,000.00 3,724.35 41.4%6609102 Contract Services-Web Page 99.00 400.00 (301.00) 792.00 3,200.00 (2,408.00) 4,800.00 4,008.00 83.5%6609490 Miscellaneous 40.95 50.00 (9.05) 143.29 200.00 (56.71) 350.00 206.71 59.1%6609620 Postage - 50.00 (50.00) 430.86 400.00 30.86 600.00 169.14 28.2%6609630 Promotion - 50.00 (50.00) 32.33 500.00 (467.67) 3,500.00 3,467.67 0.0%6609633 Promotion-Community 84.05 75.00 9.05 84.05 2,625.00 (2,540.95) 2,925.00 2,840.95 97.1%6609634 Promotion-Media/Vendor - 500.00 (500.00) 465.00 3,500.00 (3,035.00) 700.00 - 0.0%6609150 Dues and Subscriptions - 400.00 (400.00) 124.76 435.00 (310.24) 735.00 610.24 83.0%6609820 Uniforms - 50.00 (50.00) 813.72 500.00 313.72 600.00 (213.72) -35.6%Total-MKT-OTHER EXPENSES 19,341.22 21,212.00 (1,870.78) 121,370.02 152,307.00 (30,936.98) 209,241.00 87,635.98 41.9%23,900.37 24,766.00 (865.63) 150,085.15 183,664.00 (33,578.85) 254,820.00 104,499.85 41.0%Total-MARKETINGMonth to Date Year to DateSilverRock ResortMarketing Expense StatementFebruary 2012Annual Budget8 February Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense67-G&A-SALARIES & BENEFITS6701320 Insurance-Group1,802.11 1,458.00 344.11 18,648.76 11,664.00 6,984.76 17,496.00 (1,152.76) -6.6%6701325 Insurance-Workers Comp602.40 707.00 (104.60) 4,350.32 5,656.00 (1,305.68) 8,480.00 4,129.68 48.7%6701720 Salaries 13,863.47 14,833.34 (969.87) 116,721.46 118,666.72 (1,945.26) 178,000.00 61,278.54 34.4%6701800 Taxes-Employer Payroll 1,403.23 1,964.00 (560.77) 11,222.27 15,712.00 (4,489.73) 23,568.00 12,345.73 52.4%6701880 Wages-Hourly2,178.88 2,319.66 (140.78) 15,444.89 18,557.28 (3,112.39) 27,835.00 12,390.11 44.5%6701882 Wages-Overtime - - - 10.88 - 10.88 - (10.88) 0.0%Total-G&A-SALARIES & BENEFITS 19,850.09 21,282.00 (1,431.91) 166,398.58 170,256.00 (3,857.42) 255,379.00 88,980.42 34.8%67-G&A-SUPPLIES & MATERIALS6703740 Supplies-Computer814.65 400.00 414.65 1,693.47 3,200.00 (1,506.53) 5,200.00 3,506.53 67.4%6703762 Supplies-Office 202.92 100.00 102.92 899.71 800.00 99.71 1,200.00 300.29 25.0%6703768 Supplies-Printing & Stationery- 400.00 (400.00) 293.47 1,700.00 (1,406.53) 3,300.00 3,006.53 91.1%Total-G&A-SUPPLIES & MATERIALS 1,017.57 900.00 117.57 2,886.65 5,700.00 (2,813.35) 9,700.00 6,813.35 70.2%67-G&A-REPAIRS & MAINTENANCE6705690 Repairs & Maintenance-Equipment- 100.00 (100.00) 228.47 700.00 (471.53) 1,100.00 871.53 79.2%Total-G&A-REPAIRS & MAINTENANCE - 100.00 (100.00) 228.47 700.00 (471.53) 1,100.00 871.53 79.2%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 & Subscriptions283.00 400.00 (117.00) 491.17 1,050.00 (558.83) 1,700.00 1,208.83 71.1%6709180 Employee Recruiting/Relocation359.35 200.00 159.35 793.35 1,200.00 (406.65) 1,400.00 606.65 43.3%6709197 Equipment Rental582.60 480.00 102.60 4,795.28 3,840.00 955.28 5,760.00 964.72 16.7%6709202 Fees-Bank61.16 90.00 (28.84) 588.50 720.00 (131.50) 1,080.00 491.50 45.5%6709208 Fees-Payroll Processing1,140.56 1,100.00 40.56 8,606.47 8,800.00 (193.53) 13,200.00 4,593.53 34.8%6709220 Freight/Delivery- 50.00 (50.00) - 400.00 (400.00) 600.00 600.00 100.0%6709490 Miscellaneous - 100.00 (100.00) 476.48 800.00 (323.52) 1,200.00 723.52 60.3%6709620 Postage/Mail Services 110.99 75.00 35.99 688.84 600.00 88.84 900.00 211.16 23.5%6709625 Professional Fees1,009.77 850.00 159.77 7,176.27 6,800.00 376.27 10,200.00 3,023.73 29.6%6709636 Promotion/Entertainment- 100.00 (100.00) 3,000.00 2,700.00 300.00 3,100.00 100.00 3.2%6709722 Seminars & Training250.00 200.00 50.00 1,348.61 1,600.00 (251.39) 2,400.00 1,051.39 43.8%6709810 Travel - 100.00 (100.00) 224.38 200.00 24.38 1,100.00 875.62 79.6%6709820 Uniforms - 75.00 (75.00) 729.46 750.00 (20.54) 1,050.00 320.54 30.5%Total-G&A-OTHER EXPENSES 4,197.43 4,220.00 (22.57) 32,118.81 32,660.00 (541.19) 48,490.00 16,371.19 33.8%25,065.09 26,502.00 (1,436.91) 201,632.51 209,316.00 (7,683.49) 314,669.00 113,036.49 35.9%Total-GENERAL & ADMINISTRATIVEMonth to Date Year to DateSilverRock ResortGeneral & Administrative Expense StatementFebruary 2012Annual Budget9 February Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense68-LEASES6800192 Equipment Leases-Carts 11,988.25 12,075.00 (86.75) 91,422.90 96,600.00 (5,177.10) 144,900.00 53,477.10 36.9%6800194 Equipment Leases-Trailer 502.54 600.00 (97.46) 4,048.78 4,800.00 (751.22) 7,200.00 3,151.22 43.8%6800196 Equipment Leases-GPS 5,736.00 5,755.00 (19.00) 41,726.02 46,040.00 (4,313.98) 69,060.00 27,333.98 39.6%6800197 Equipment Leases-Others 1,203.00 1,160.00 43.00 16,384.94 9,280.00 7,104.94 13,920.00 (2,464.94) 0.0%19,429.79 19,590.00 (160.21) 153,582.64 156,720.00 (3,137.36) 235,080.00 81,497.36 34.7%69-MISC OTHER EXPENSES6900096 Contract Srvcs-Management Fee (7,278.86) (4,852.00) (2,426.86) 71,828.05 83,572.00 (11,743.95) 90,000.00 18,171.95 20.2%6900210 FF&E Reserve 10,256.04 9,385.00 871.04 38,399.47 36,337.00 2,062.47 66,540.00 28,140.53 42.3%6900800 Personal Property Taxes 382.85 - 382.85 13,502.47 14,800.00 (1,297.53) 14,800.00 1,297.53 8.8%6900323 Insurance-Commercial 2,475.07 2,200.00 275.07 19,223.85 17,600.00 1,623.85 26,400.00 7,176.15 27.2%5,835.10 6,733.00 (897.90) 142,953.84 152,309.00 (9,355.16) 197,740.00 54,786.16 27.7%Annual BudgetMonth to Date Year to DateTotal-LEASESTotal-MISC OTHER EXPENSESSilverrock ResortOperating Leases & Miscellaneous Other Expense StatementFebruary 201210 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report-2011-20122011 2011 2011 2011 2011 2011Comp CategoryJulyAugustSeptemberOctoberNovemberDecemberMedia51 145Sales4Promotion36Golf Industry6VIPCelebrityPGA Comp64 60 50 5 38 29Charity/Gift Certificate214 430Rain/Wind Checks321 13Club Staff65 62 91 8 66 71LQ HS Golf2 4 12 11 34141 136 162 14 136 2052012 2012 2012 2012 2012 2012Comp CategoryJanuaryFebruaryMarchAprilMayJuneMedia56SalesPromotion113Golf Industry4VIPCelebrity2PGA Comp37 105Charity/Gift Certificate823Rain/Wind Checks4Club Staff150 92LQ HS Golf48 177255420000011 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report-2011-2012February 2012 Date Time Description CategoryPlayers2/4/2012 8:45 Kris Long, KPSP Media 42/6/2012 10:00 Brian Doti, Internet Review Promo 42/14/2012 9:45 John Lienhart, Golfweek Rater Promo 12/23/2012 8:07 Judd Spicer, Golf Writer Promo 22/24/2012 11:07 Jud Martin, Golf Digest Panelist Promo 22/24/2012 11:45 Kris Long, KPSP Media 22/26/2012 8:00-8:07 CVA Fam Trip Golf Road Warriors Promo 812