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10 April 2013 SilverRock Resort - Monthly Financial Statement Monthly Financial Statements July 2012 – April 2013 TABLE OF CONTENTS Summary Operating Income Expense 1 Variance Report 2 Statement of Fee Revenue 3 Golf Shop Income Statement 4 Course Maintenance Expense Statement 5 Outside Service Expense Statement 7 Clubhouse Expense Statement 8 Marketing Expense Statement 9 General & Administrative Expense Statement 10 Operating Leases & Miscellaneous Expense Statement 12 Complimentary Report 13 Annual BudgetAccount Description April Final Budget Variance Percentages Unfavorable (-) Favorable (+) Final Budget Variance Annual Budget Unemcumb. % Bdgt Income400000 Golf Green Fee Revenue405,045.07 463,400.00 (58,354.93) -12.6% 2,731,020.46 2,887,195.00 (156,174.54) 3,350,773.00 619,752.54 82%401000 Miscellaneous Golf Revenue 44,146.35 18,860.00 25,286.35 134.1% 301,035.90 139,803.00 161,232.90 159,973.00 (141,062.90) 188%410000 Revenue-Golf Shop 28,007.51 42,000.00 (13,992.49) -33.3% 212,705.82 264,851.00 (52,145.18) 311,048.00 98,342.18 68%420000 Revenue-F&B Concession500.00 500.00 - 0.0% 11,000.00 11,000.00 - 12,000.00 1,000.00 92%890000 Interest Income0.51 - 0.51 0.0% 6.79 - 6.79 - (6.79) 0%Total Income477,699.44 524,760.00 (47,060.56) -9.0% 3,255,768.97 3,302,849.00 (47,080.03) 3,833,794.00 578,025.03 85%Cost of Goods Sold510000 COS-Golf Shop 15,228.64 22,292.00 (7,063.36) 31.7% 115,068.13 140,571.05 25,502.92 165,088.40 50,020.27 70%Total COS15,228.64 22,292.00 (7,063.36) 31.7% 115,068.13 140,571.05 25,502.92 165,088.40 50,020.27 70%Gross Profit462,470.80 502,468.00 (39,997.20) -8.0% 3,140,700.84 3,162,277.95 (21,577.11) 3,668,705.60 528,004.76 86%Expenses610000 Golf Pro Shop 18,304.60 17,644.00 (660.60) -3.7% 173,750.40 174,291.00 540.60 212,986.00 39,235.60 82%630000 Course Maintenance128,130.98 116,677.00 (11,453.98) -9.8% 1,452,063.50 1,434,962.00 (17,101.50) 1,664,207.00 212,143.50 87%633000 Maintenance Water & Energy19,249.30 20,967.00 1,717.70 8.2% 173,789.74 169,437.00 (4,352.74) 221,749.00 47,959.26 78%640000 Outside Services25,989.93 25,952.00 (37.93) -0.1% 243,828.15 245,481.00 1,652.85 292,671.00 48,842.85 83%650000 Clubhouse 11,270.72 10,636.00 (634.72) -6.0% 107,240.15 110,560.00 3,319.85 132,232.00 24,991.85 81%660000 Marketing 20,442.39 22,857.00 2,414.61 10.6% 183,560.11 222,437.00 38,876.89 245,611.00 62,050.89 75%670000 General & Administrative24,827.68 25,861.00 1,033.32 4.0% 263,865.17 259,510.00 (4,355.17) 312,385.00 48,519.83 84%680000 Leases 17,954.89 18,890.00 935.11 5.0% 177,134.59 188,900.00 11,765.41 226,680.00 49,545.41 78%690000 Miscellaneous Other Expense8,429.78 6,408.00 (2,021.78) -31.6% 139,028.38 161,146.00 22,117.62 198,215.00 59,186.62 70%Total Expenses274,600.27 265,892.00 (8,708.27) -3.3% 2,914,260.19 2,966,724.00 52,463.81 3,506,736.00 592,475.81 83%187,870.53 236,576.00 (48,705.47) -20.6%226,440.65 195,553.95 30,886.70 161,969.60 (64,471.05) 140%Rounds of Golf PlayedPaid Rounds Played 5,218 5,600 (382) -6.8% 39,327 38,950 377 45,625 6,298 86%Ave $ Per Paid Round Green Fee77.62 82.75 (5.13) -6.2% 69.44 74.13 (4.68) 73.44 4.00 95%Ave $ Per Paid Round Merchandise5.37 7.50 (2.13) -28.4% 5.41 6.80 (1.39) 6.82 1.41 79%Ave $ Per Paid Miscellaneous 8.46 3.37 5.09 151.2% 7.65 3.59 4.07 3.51 (4.15) 0%SilverRock ResortSummary Operating Income StatementNet IncomeMonth to Date Year to DateApril 20131 ACTUALBUDGETVARIANCEGreen Fee Revenue 405,045.07$ 463,400.00$ (58,354.93)$ Unfavorable: Rounds & Revenue were down which was attributed to 2 weeks of Coachella Fest & 1 week of Stagecoach. The financial impacts of the 3 concerts back to back are difficult to accurately anticipate. Hotels throughout the Coachella Valley are occupied with festival fans during this 3 week span thus significantly changing the normal demographics of the hotel business by greatly reducing the number of golfers that normally occupy these rooms. Misc Golf Revenue44,146.35$ 18,860.00$ 25,286.35$ Favorable: Additional golf schools by Golf Made Simple increased golf instructor fees. Driving range revenue was updue to increased traffic on the range. As a result of SilverRock Operations taking over the distribution of the La Quinta Resident Cards, revenues of $18,450.00 for the month of April are now being recognized on the SilverRock Financials.This revenue was not part of the original 2012-2013 Annual Plan.Pro Shop Merchandise Sales28,007.51$ 42,000.00$ (13,992.49)$ Unfavorable: Merchandise sales were down by nearly 33% due to conservative consumer spending and reduced play during 3 weeks of concerts in the Coachella Valley for the month of April. Pro Shop Cost of Sales15,228.64$ 22,292.00$ 7,063.36$ 54.37% 53.08% 1.30%Favorable: Due to reduced Hard/Softgood sales for the month. This cost is consistent with the markup percentage.Marketing20,442.39$ 22,857.00$ 2,414.61$ Favorable: Due to timing of invoices for advertising and reduced spending on collateral material.Miscellaneous8,429.78$ 6,408.00$ (2,021.78)$ Unfavorable: Reduced profit for Food and Beverage for the month of April which increased management fee for Landmark Golf Management as stated in the Financials. Variance ExplanationsApril 20135-20-132 Income April Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4000000 Revenue-Fees 405,045.07 463,400.00 (58,354.93) 2,731,020.46 2,887,195.00 (156,174.54) 3,350,773.00619,752.5482%4010000 Rider Fee 675.00 560.00 115.00 7,570.00 6,873.00 697.00 7,643.0073.0099%4040000 Club Rental 3,437.00 2,800.00 637.00 20,236.00 19,475.00 761.00 23,325.003,089.0087%4050000 Driving Range 11,670.00 8,400.00 3,270.00 87,683.00 73,855.00 13,828.00 85,405.00-2,278.00103%4060000 Handicap Fees - - - 2,268.00 - 2,268.00 0.000.000%4080000 GPS Advertising - 100.00 (100.00) - 2,600.00 (2,600.00) 2,600.00 2,600.000%4090000 Ball Retriever/Subcontract 1,188.10 1,000.00 188.10 5,164.80 4,000.00 1,164.80 4,000.00 -1,164.80129%4091000 Golf Professional Rental Fee 8,726.25 6,000.00 2,726.25 40,586.75 33,000.00 7,586.75 37,000.00 -3,586.75 110%4092000 Golf Lessons - - - 967.35 - 967.35 - (967.35) 0%4093000 Resident Card Issue 18,450.00 - 18,450.00 136,560.00 - 136,560.00 - - 0% Total Revenue Fees 449,191.42 482,260.00 (33,068.58) 3,032,056.36 3,026,998.00 5,058.36 3,510,746.00 617,517.64 82%449,191.42 482,260.00 (33,068.58) 3,032,056.36 3,026,998.00 5,058.36 3,510,746.00 617,517.64 82%Total IncomeMonth to Date Year to Date Annual BudgetSilverRock ResortStatement of Fees RevenueApril 20133 Income April Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4100000 Sales Miscellaneous 503.00 - 503.00 2,362.66 - 2,362.66 0 0 0%4100110 Sales Hard Goods 11,320.59 14,700.00 (3,379.41) 81,410.32 92,699.00 (11,288.68) 108,867.00 27,456.68 75%4100112 Sales-Soft Goods 20,884.00 27,300.00 (6,416.00) 160,048.59 172,152.00 (12,103.41) 202,181.00 42,132.41 79%5100639 GS-Discounts-Mdse (4,700.08) - (4,700.08) (31,115.75) - (31,115.75) - 31,115.75 0% Total Revenue Golf Shop 28,007.51 42,000.00 (13,992.49) 212,705.82 264,851.00 (52,145.18) 311,048.00 100,704.84 68%COS 5100150 COS-GS-Hard Goods 6,083.07 8,085.00 (2,001.93) 43,258.37 50,984.45 (7,726.08) 59,876.85 16,618.48 72%5100151 COS-GS-Soft Goods 8,763.24 15,015.00 (6,251.76) 70,085.95 94,683.60 (24,597.65) 111,199.55 41,113.60 63%5100152 COS-GS-Purchase Disc (110.26) (1,155.00) 1,044.74 (2,061.52) (7,283.00) 5,221.48 (8,554.00) (6,492.48) -24%5100220 COS-GS-Freight Merch 492.59 347.00 145.59 3,785.33 2,186.00 1,599.33 2,566.00 (1,219.33) 148%Cost of Sales - Golf Shop 15,228.64 22,292.00 (7,063.36) 115,068.13 140,571.05 (25,502.92) 165,088.40 50,020.27 70%Gross Profit 12,778.87 19,708.00 (6,929.13) 97,637.69 124,279.95 (26,642.26) 145,959.60 50,684.57 65%COS % 54.4% 53.1% -1.3% 54.1% 53.1% -1.0% 53.1% 49.7% 6%Expense61-PS-SALARIES & BENEFITS6101320 Insurance Group 2,628.73 2,317.00 311.73 21,912.47 22,177.00 (264.53) 26,811.00 4,898.53 82%6101325 Insurance-Workers Comp 619.22 488.00 131.22 4,655.22 4,695.00 (39.78) 5,663.00 1,007.78 82%6101720 Salaries 4,545.44 3,750.00 795.44 38,999.84 37,500.00 1,499.84 45,000.00 6,000.16 87%6101800 Taxes-Employer Payroll 1,979.84 1,271.00 708.84 12,649.97 12,227.00 422.97 14,758.00 2,108.03 86%6101880 Wages-Hourly 7,683.77 8,408.00 (724.23) 76,701.71 79,502.00 (2,800.29) 96,229.00 19,527.29 80%6101882 Wages-Overtime 36.76 - 36.76 1,153.29 - 1,153.29 - 952.88 0%Total -PS-SALARIES & BENEFITS 17,493.76 16,234.00 1,259.76 156,072.50 156,101.00 (28.50) 188,461.00 34,494.67 82%61-PS OTHER EXPENSES6103742 Supplies-Expendable - - - - - - - - 0%6103762 Supplies-Office 168.98 500.00 (331.02) 3,353.65 5,000.00 (1,646.35) 6,000.00 2,646.35 56%6109090 Contract Services 500.00 500.00 - 5,000.00 5,000.00 - 6,000.00 1,000.00 83%6109220 Freight & Delivery - - - 212.23 75.00 137.23 75.00 (137.23) 283%6109490 Miscellaneous 9.78 50.00 (40.22) 1,166.88 350.00 816.88 450.00 (716.88) 259%6109150 Dues and Subscriptions - - - 1,800.00 - 1,800.00 2,300.00 500.00 78%6109500 ProShop-Over/Short (44.65) - (44.65) (43.33) - (43.33) - 43.33 0%6109722 Seminars/Training - 35.00 (35.00) 2,316.25 4,605.00 (2,288.75) 5,890.00 3,573.75 39%6109810 Travel - Merchandise - 15.00 (15.00) - 60.00 (60.00) 90.00 90.00 0%6109820 Uniforms 62.71 200.00 (137.29) 2,907.02 2,000.00 907.02 2,400.00 (507.02) 121%6117840 Telephones 114.02 110.00 4.02 965.20 1,100.00 (134.80) 1,320.00 354.80 0%Total PS-OTHER EXPENSES 810.84 1,410.00 (599.16) 17,677.90 18,190.00 (512.10) 24,525.00 6,847.10 72%18,304.60 17,644.00 660.60 173,750.40 174,291.00 (540.60) 212,986.00 41,341.77 81%Net Income(5,525.73) 2,064.00 (7,589.73) (76,112.71) (50,011.05) (26,101.66) (67,026.40) 9,342.80 -114%Total Expenses-Golf ShopMonth to Date Year to Date Annual BudgetSilverRock ResortGolf Shop Income StatementApril 20134 April Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense63-CM-SALARIES & BENEFITS6311320 Insurance-Group 9,430.67 8,740.00 690.67 88,038.94 87,400.00 638.94 104,880.00 16,841.06 16.1%6311325 Insurance-Workers Comp 2,586.72 2,208.00 378.72 18,611.45 22,787.00 (4,175.55) 27,280.00 8,668.55 31.8%6311720 Salaries 11,007.60 11,001.60 6.00 117,423.60 110,016.00 7,407.60 150,996.00 33,572.40 22.2%6311800 Taxes-Employer Payroll 7,010.06 5,754.00 1,256.06 58,182.46 59,835.00 (1,652.54) 71,645.00 13,462.54 18.8%6311880 Wages-Hourly 44,758.46 44,059.40 699.06 463,640.99 449,512.00 14,128.99 518,654.00 55,013.01 10.6%6311882 Wages-Overtime 31.85 - 31.85 11,792.72 13,076.00 (1,283.28) 15,945.00 4,152.28 26.0%Total-CM-SALARIES & BENEFITS74,825.36 71,763.00 3,062.36 757,690.16 742,626.00 15,064.16 889,400.00 131,709.84 14.8%63-CM-SUPPLIES & MATERIALS6313734 Chemicals 4,069.45 - 4,069.45 27,368.30 - 27,368.30 31,100.00 3,731.70 12.0%6313744 Fertilizer 7,005.64 7,000.00 5.64 115,807.26 132,700.00 (16,892.74) 114,500.00 (1,307.26) -1.1%6313745 Herbicides - - - 17,281.37 17,000.00 281.37 17,000.00 (281.37) -1.7%6313746 Flowers/Plants - 100.00 (100.00) 2,649.42 3,050.00 (400.58) 3,050.00 400.58 13.1%6313748 Fuel-Gasoline 5,085.15 4,100.00 985.15 45,024.11 48,820.00 (3,795.89) 55,020.00 9,995.89 18.2%6313750 Golf Course Accessories 80.17 100.00 (19.83) 14,637.42 12,800.00 1,837.42 13,000.00 (1,637.42) -12.6%6313756 POA Control 237.82 - 237.82 8,535.60 7,000.00 1,535.60 7,000.00 (1,535.60) -21.9%6313758 Miscellaneous Supp 649.90 100.00 549.90 7,373.89 4,150.00 3,223.89 4,350.00 (3,023.89) 0.0%6313762 Supplies-Office - - - 603.96 - 603.96 - (603.96) 0.0%6313774 Sand - 100.00 (100.00) 7,961.87 16,260.00 (8,298.13) 16,460.00 8,498.13 51.6%6313776 Seed - 350.00 (350.00) 106,483.19 106,110.00 373.19 106,810.00 326.81 0.3%6313778 Small Tools & Non-Capital Equip 148.28 100.00 48.28 4,571.42 4,800.00 (228.58) 5,000.00 428.58 8.6%6313780 Sod 222.88 - 222.88 7,398.19 7,250.00 148.19 7,950.00 551.81 6.9%6313782 Topdressing - - - 7,026.64 5,000.00 2,026.64 7,600.00 573.36 7.5%Total-CM-SUPPLIES & MATERIALS17,499.29 11,950.00 5,549.29 372,722.64 364,940.00 7,782.64 388,840.00 16,117.36 4.1%63-CM-REPAIRS & MAINTENANCE6315095 CM-R&M-Contract Lake Maint 2,830.00 2,600.00 230.00 28,300.00 26,000.00 2,300.00 31,200.00 2,900.00 9.3%6315685 CM-R&M-Bldngs & Othr Structures 493.22 250.00 243.22 1,722.97 5,050.00 (3,327.03) 5,550.00 3,827.03 69.0%6315690 CM-R&M-Equipment 3,466.65 2,500.00 966.65 39,878.33 26,500.00 13,378.33 31,000.00 (8,878.33) -28.6%6315692 CM-R&M-Irrigation System 964.30 1,000.00 (35.70) 13,913.50 20,650.00 (6,736.50) 22,650.00 8,736.50 38.6%6315696 CM-R&M-Pumps - 1,000.00 (1,000.00) 5,858.06 10,000.00 (4,141.94) 10,500.00 4,641.94 44.2%6315815 CM-R&M-Trees-Pruning Etc 6,000.00 4,000.00 2,000.00 13,500.00 10,050.00 3,450.00 10,050.00 (3,450.00) -34.3%Total-CM-REPAIRS & MAINTENANCE 13,754.17 11,350.00 2,404.17 103,172.86 98,250.00 4,922.86 110,950.00 7,777.14 7.0%63-CM-UTILTIES6317836 Utilities-Natural Gas/LPG 24.13 15.00 9.13 242.98 150.00 92.98 180.00 (62.98) 0.0%6317840 Telephones 975.39 850.00 125.39 11,539.06 8,500.00 3,039.06 10,200.00 (1,339.06) -13.1%Total-CM-UTILITIES 999.52 865.00 134.52 11,782.04 8,650.00 3,132.04 10,380.00 (1,402.04) -13.5%63-CM-OTHER EXPENSES6319020 Auto Mileage/Allowance 500.00 500.00 - 5,000.00 5,000.00 - 6,000.00 1,000.00 16.7%6319100 Contract Svcs-Soil/Tissue Test - - - - 2,000.00 (2,000.00) 4,000.00 4,000.00 100.0%6319102 Contract Svcs-Trash Removal 627.58 524.00 103.58 8,010.42 5,240.00 2,770.42 6,288.00 (1,722.42) 0.0%6319150 Dues & Subscriptions - 200.00 (200.00) 1,220.00 440.00 780.00 540.00 (680.00) -125.9%6319170 Employee Education - 50.00 (50.00) - 1,450.00 (1,450.00) 1,550.00 1,550.00 100.0%6319197 Equipment Rental - 200.00 (200.00) 579.13 3,900.00 (3,320.87) 4,200.00 3,620.87 86.2%6319206 Licenses & Permits 1,811.00 150.00 1,661.00 1,896.00 1,430.00 466.00 1,430.00 (466.00) -32.6%6319490 Miscellaneous 23.76 100.00 (76.24) 1,991.85 1,000.00 991.85 1,200.00 (791.85) -66.0%6319718 Safety Equipment & Training 91.53 100.00 (8.47) 5,484.51 3,650.00 1,834.51 3,850.00 (1,634.51) -42.5%6319822 Uniforms 1,361.05 920.00 441.05 12,549.98 9,200.00 3,349.98 11,040.00 (1,509.98) -13.7%Total-CM-OTHER EXPENSES 4,414.92 2,744.00 1,670.92 36,731.89 33,310.00 3,421.89 40,098.00 3,366.11 8.4%Month to Date Year to DateSilverRock ResortCourse Maintenance Expense StatementApril 2013Annual Budget5 April Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget632-CM-LANDSCAPE MAINTENANCE632-CM-LM-SALARIES & BENEFITS6321320 Insurance-Group 1,843.10 2,648.00 (804.90) 18,847.18 26,480.00 (7,632.82) 31,776.00 12,928.82 40.7%6321325 Insurance-Workers Comp 442.30 516.00 (73.70) 4,822.90 5,303.00 (480.10) 6,361.00 1,538.10 24.2%6321800 Taxes-Employer Payroll 1,416.48 1,346.00 70.48 12,959.44 14,015.00 (1,055.56) 16,808.00 3,848.56 22.9%6321880 Wages-Hourly 12,640.00 12,880.00 (240.00) 128,660.29 128,800.00 (139.71) 154,560.00 25,899.71 16.8%6321882 Wages-Overtime - - - 1,847.83 5,313.00 (3,465.17) 6,279.00 4,431.17 70.6%Total-CM-LM-SALARIES & BENEFITS16,341.88 17,390.00 (1,048.12) 167,137.64 179,911.00 (12,773.36) 215,784.00 48,646.36 22.5%632-CM-LM-SUPPLIES & MATERIALS6323778 Small Tools - 75.00 (75.00) - 875.00 (875.00) 1,025.00 1,025.00 100.0%6323788 Uniforms 295.84 290.00 5.84 2,605.87 2,900.00 (294.13) 3,480.00 874.13 25.1%Total-CM-LM-SUPPLIES & MATERIALS295.84 365.00 (69.16) 2,605.87 3,775.00 (1,169.13) 4,505.00 1,899.13 42.2%632-CM-LM-REPAIRS & MAINTENANCE6325687 CM-LM-R&M-Drip Irrigation - 250.00 (250.00) 220.40 3,500.00 (3,279.60) 4,250.00 4,029.60 94.8%Total-CM-LM-REPAIRS & MAINTENANCE - 250.00 (250.00) 220.40 3,500.00 (3,279.60) 4,250.00 4,029.60 94.8%128,130.98 116,677.00 11,453.98 1,452,063.50 1,434,962.00 17,101.50 1,664,207.00 212,143.50 12.7% April Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget633-CM-WATER & ENERGY6337834 Utilities-Electricity-Pumping 14,889.79 19,417.00 (4,527.21) 129,288.73 136,144.00 (6,855.27) 178,691.00 49,402.27 27.6%6337842 Utilities-Water4,359.51 1,550.00 2,809.51 44,501.01 33,293.00 11,208.01 43,058.00 (1,443.01) -3.4%19,249.30 20,967.00 (1,717.70) 173,789.74 169,437.00 4,352.74 221,749.00 47,959.26 21.6%April 2013Annual BudgetMonth to Date Year to DateTotal-COURSE MAINTENANCESilverrock ResortCourse Maintenance Expense StatementSilverrock ResortCourse Maintenance Water & EnergyApril 2013Total-CM-WATER & ENERGYMonth to Date Year to Date Annual Budget6 April Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense641-CBR-SALARIES & BENEFITS6411320 Insurance-Group 737.24 662.00 75.24 4,432.72 6,620.00 (2,187.28) 7,944.00 3,511.28 44.2%6411325 Insurance-Workers Comp 1,061.52 550.00 511.52 5,301.23 4,402.00 899.23 5,135.00 (166.23) -3.2%6411800 Taxes-Employer Payroll 1,833.99 1,707.00 126.99 14,306.48 13,664.00 642.48 15,942.00 1,635.52 10.3%6411880 Wages-Hourly 12,909.51 13,710.00 (800.49) 108,376.11 109,752.00 (1,375.89) 128,052.00 19,675.89 15.4%6411882 Wages-Overtime 336.00 - 336.00 2,060.10 - 2,060.10 - (2,060.10) 0.0%Total-CBR-SALARIES & BENEFITS16,878.26 16,629.00 249.26 134,476.64 134,438.00 38.64 157,073.00 22,596.36 14.4%641-CBR-SUPPLIES & MATERIALS6413732 Supplies-Carts 46.40 50.00 (3.60) 3,535.64 2,250.00 1,285.64 2,350.00 (1,185.64) -50.5%6413742 Supplies-Expendable 318.61 150.00 168.61 10,074.69 5,750.00 4,324.69 6,750.00 (3,324.69) -49.3%6413748 Supplies-Fuel for Shuttle 419.98 450.00 (30.02) 1,556.19 2,700.00 (1,143.81) 3,000.00 1,443.81 48.1%6413752 Supplies-Range Balls - - - 9,177.75 9,000.00 177.75 9,000.00 (177.75) -2.0%6413762 Supplies-Office - 50.00 (50.00) - 425.00 (425.00) 525.00 525.00 100.0%6413768 Supplies-Printing and Stationary - 70.00 (70.00) 59.27 280.00 (220.73) 420.00 360.73 85.9%6413786 Supplies-Towels 320.00 72.00 248.00 3,037.41 861.00 2,176.41 1,005.00 (2,032.41) -202.2%6413796 Supplies-Bottled Water(705.01) 50.00 (755.01) 9,206.98 12,450.00 (3,243.02) 24,500.00 15,293.02 62.4%Total-CBR-SUPPLIES & MATERIALS399.98 892.00 (492.02) 36,647.93 33,716.00 2,931.93 47,550.00 10,902.07 22.9%641-CBR-REPAIRS & MAINTENANCE6415690 CBR-R&M-Equipment 652.37 300.00 352.37 3,282.81 3,000.00 282.81 3,600.00 317.19 8.8%6415695 CBR-R&M-Cart Maintenance & Repair 43.80 750.00 (706.20) 4,993.57 8,250.00 (3,256.43) 9,750.00 4,756.43 48.8%Total-CBR-REPAIRS & MAINTENANCE 696.17 1,050.00 (353.83) 8,276.38 11,250.00 (2,973.62) 13,350.00 5,073.62 38.0%641-CBR-OTHER EXPENSES6419094 Contract Services-Laundry/Linen 903.83 800.00 103.83 8,676.86 8,000.00 676.86 9,600.00 923.14 9.6%6419220 Freight/Delivery - - - - 450.00 (450.00) 450.00 450.00 100.0%6419490 Miscellaneous - 125.00 (125.00) 283.80 900.00 (616.20) 1,150.00 866.20 75.3%6419820 Uniforms - - - 2,317.39 3,500.00 (1,182.61) 5,200.00 2,882.61 55.4%Total-CBR-OTHER EXPENSES 903.83 925.00 (21.17) 11,278.05 12,850.00 (1,571.95) 16,400.00 5,121.95 31.2%TOTAL-CARTS,BAGROOM & RANGE 18,878.24 19,496.00 (617.76) 190,679.00 192,254.00 (1,575.00) 234,373.00 43,694.00 18.6%643-CS-SALARIES & BENEFITS6431320 Insurance-Group - - - - - - - - 0.0%6431325 Insurance-Workers Comp 442.40 207.00 235.40 2,975.18 1,741.00 1,234.18 1,903.00 (1,072.18) -56.3%6431800 Taxes-Employer Payroll 855.29 539.00 316.29 5,491.38 4,531.00 960.38 4,960.00 (531.38) -10.7%6431880 Wages-Hourly 5,814.00 5,160.00 654.00 41,446.00 43,380.00 (1,934.00) 47,460.00 6,014.00 12.7%6431882 Wages-Overtime - - - - - - - - 0.0%Total-CS-SALARIES & BENEFITS7,111.69 5,906.00 1,205.69 49,912.56 49,652.00 260.56 54,323.00 4,410.44 8.1%643-CS-OTHER EXPENSES6433742 Supplies Expendable - 100.00 (100.00) 777.31 900.00 (122.69) 1,050.00 272.69 26.0%6439490 Miscellaneous - - - 951.29 200.00 751.29 200.00 (751.29) -375.6%6439718 Safety Equipment & Training - 50.00 (50.00) 114.53 500.00 (385.47) 600.00 485.47 80.9%6439820 Uniforms - 400.00 (400.00) 1,393.46 1,975.00 (581.54) 2,125.00 731.54 34.4%Total-CS-OTHER EXPENSES - 550.00 (550.00) 3,236.59 3,575.00 (338.41) 3,975.00 738.41 18.6%Total-COURSE SERVICES 7,111.69 6,456.00 655.69 53,149.15 53,227.00 (77.85) 58,298.00 5,148.85 8.8%25,989.93 25,952.00 37.93 243,828.15 245,481.00 (1,652.85) 292,671.00 48,104.44 16.4%TOTAL OUTSIDE SERVICESMonth to Date Year to DateSilverRock ResortOutside Services Expense StatementApril 2013Annual Budget7 April Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense65-CH-SUPPLIES & MATERIALS6503742 Supplies-Expendable- 400.00 (400.00) 1,264.00 4,000.00 (2,736.00) 4,800.00 3,536.00 73.7%Total-CH-SUPPLIES & MATERIALS - 400.00 (400.00) 1,264.00 4,000.00 (2,736.00) 4,800.00 3,536.00 73.7%65-CH-UTILITIES6507836 Utilities-Natural Gas518.35 300.00 218.35 2,896.81 3,000.00 (103.19) 3,600.00 703.19 19.5%6507840 Utilities-Telephone1,248.08 1,150.00 98.08 12,307.71 11,500.00 807.71 13,800.00 1,492.29 10.8%6507842 Utilities-Water467.72 321.00 146.72 3,664.61 3,210.00 454.61 3,852.00 187.39 4.9%6507844 Utilities-Cable336.91 340.00 (3.09) 3,369.10 3,400.00 (30.90) 4,080.00 710.90 17.4%Total-CH-UTILITIES 2,571.06 2,111.00 460.06 22,238.23 21,110.00 1,128.23 25,332.00 3,093.77 12.2%65-CH-OTHER EXPENSES6509091 Contract Services-Cleaning1,960.50 1,825.00 135.50 18,674.50 18,850.00 (175.50) 22,500.00 3,825.50 17.0%6509099 Contract Services-Security4,565.04 4,900.00 (334.96) 52,705.36 50,600.00 2,105.36 60,400.00 7,694.64 12.7%6509215 Flowers & Decorations- - - 98.89 2,000.00 (1,901.11) 2,400.00 2,301.11 95.9%6509490 Miscellaneous224.37 200.00 24.37 430.58 2,000.00 (1,569.42) 2,400.00 1,969.42 82.1%6509718 Safety Equipment & Training- 100.00 (100.00) 597.31 1,000.00 (402.69) 1,200.00 602.69 50.2%Total-CH-OTHER EXPENSES 6,749.91 7,025.00 (275.09) 72,506.64 74,450.00 (1,943.36) 88,900.00 16,393.36 18.4%65-CH-REPAIRS & MAINTENANCE6515685 CH-R&M-Building Structures304.58 300.00 4.58 3,220.80 3,000.00 220.80 3,600.00 379.20 10.5%6515686 CH-R&M-Restaurant Repairs16.86 400.00 (383.14) 4,508.20 4,000.00 508.20 4,800.00 291.80 6.1%6515690 CH-R&M-Equipment Repair1,628.31 400.00 1,228.31 3,502.28 4,000.00 (497.72) 4,800.00 1,297.72 27.0%Total-CH-REPAIRS & MAINTENANCE 1,949.75 1,100.00 849.75 11,231.28 11,000.00 231.28 13,200.00 1,968.72 14.9%11,270.72 10,636.00 634.72 107,240.15 110,560.00 (3,319.85) 132,232.00 3,937.44 3.0%Total CLUBHOUSEMonth to Date Year to DateSilverRock ResortClubhouse Expense StatementApril 2013Annual Budget8 April Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense66-MKT-SALARIES & BENEFITS6601320 Insurance-Group 368.62 331.00 37.62 3,325.70 3,310.00 15.70 3,972.00 646.30 16.3%6601325 Insurance-Workers Comp 88.46 101.00 (12.54) 1,394.94 1,010.00 384.94 1,207.00 (187.94) -15.6%6601720 Salaries 2,229.32 2,508.00 (278.68) 23,515.48 25,080.00 (1,564.52) 30,096.00 6,580.52 21.9%6601800 Taxes-Employer Payroll 198.03 262.00 (63.97) 3,257.89 2,620.00 637.89 3,145.00 (112.89) -3.6%Total-MKT-SALARIES & BENEFITS 2,884.43 3,202.00 (317.57) 31,494.01 32,020.00 (525.99) 38,420.00 6,925.99 18.0%66-MKT-SUPPLIES & MATERIALS6603762 Supplies-Office 164.29 100.00 64.29 374.87 1,000.00 (625.13) 1,200.00 825.13 68.8%6603768 Supplies-Printing & Stationery 478.01 125.00 353.01 5,696.65 4,175.00 1,521.65 4,425.00 (1,271.65) -28.7%642.30 225.00 417.30 6,071.52 5,175.00 896.52 5,625.00 (446.52) -7.9%66-MKT-UTILITIES6607840 Utilities-Telephone 94.94 100.00 (5.06) 1,034.87 1,000.00 34.87 1,200.00 165.13 13.8%Total-MKT-UTILITIES 94.94 100.00 (5.06) 1,034.87 1,000.00 34.87 1,200.00 165.13 13.8%66-MKT-OTHER EXPENSES6609010 Advertising 16,381.98 18,230.00 (1,848.02) 139,653.28 165,657.00 (26,003.72) 179,231.00 39,577.72 22.1%6609040 Business Meals - - - - - - 300.00 300.00 100.0%6609080 Collateral Material - 500.00 (500.00) 2,742.37 7,500.00 (4,757.63) 9,000.00 6,257.63 69.5%6609102 Contract Services-Web Page 99.00 300.00 (201.00) 990.00 3,000.00 (2,010.00) 3,600.00 2,610.00 72.5%6609490 Miscellaneous - 50.00 (50.00) - 300.00 (300.00) 350.00 350.00 100.0%6609620 Postage - 50.00 (50.00) 19.82 500.00 (480.18) 600.00 580.18 96.7%6609630 Promotion - 25.00 (25.00) 104.43 250.00 (145.57) 3,000.00 2,895.57 0.0%6609633 Promotion-Community - 125.00 (125.00) 766.75 2,700.00 (1,933.25) 2,250.00 1,483.25 65.9%6609634 Promotion-Media/Vendor 145.00 - 145.00 145.00 3,000.00 (2,855.00) 700.00 - 0.0%6609150 Dues and Subscriptions - - - 343.32 735.00 (391.68) 735.00 391.68 53.3%6609820 Uniforms 194.74 50.00 144.74 194.74 600.00 (405.26) 600.00 405.26 67.5%Total-MKT-OTHER EXPENSES 16,820.72 19,330.00 (2,509.28) 144,959.71 184,242.00 (39,282.29) 200,366.00 54,851.29 27.4%20,442.39 22,857.00 (2,414.61) 183,560.11 222,437.00 (38,876.89) 245,611.00 61,495.89 25.0%Total-MARKETINGMonth to Date Year to DateSilverRock ResortMarketing Expense StatementApril 2013Annual Budget9 April Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense67-G&A-SALARIES & BENEFITS6701320 Insurance-Group1,875.30 1,458.00 417.30 16,221.63 14,580.00 1,641.63 17,496.00 1,274.37 7.3%6701325 Insurance-Workers Comp265.38 688.00 (422.62) 4,149.17 6,880.00 (2,730.83) 8,254.00 4,104.83 49.7%6701720 Salaries 12,816.26 15,003.00 (2,186.74) 143,978.86 150,030.00 (6,051.14) 178,000.00 34,021.14 19.1%6701800 Taxes-Employer Payroll 1,081.68 1,792.00 (710.32) 13,564.49 17,920.00 (4,355.51) 21,510.00 7,945.51 36.9%6701880 Wages-Hourly2,434.22 2,150.00 284.22 21,297.82 21,500.00 (202.18) 27,835.00 6,537.18 23.5%6701882 Wages-Overtime - - - 22.69 - 22.69 - (22.69) 0.0%Total-G&A-SALARIES & BENEFITS 18,472.84 21,091.00 (2,618.16) 199,234.66 210,910.00 (11,675.34) 253,095.00 53,860.34 21.3%67-G&A-SUPPLIES & MATERIALS6703740 Supplies-Computer467.50 400.00 67.50 2,843.09 4,000.00 (1,156.91) 5,200.00 2,356.91 45.3%6703762 Supplies-Office 72.25 100.00 (27.75) 1,368.45 1,000.00 368.45 1,200.00 (168.45) -14.0%6703768 Supplies-Printing & Stationery240.59 400.00 (159.41) 1,106.49 2,500.00 (1,393.51) 3,300.00 2,193.51 66.5%Total-G&A-SUPPLIES & MATERIALS 780.34 900.00 (119.66) 5,318.03 7,500.00 (2,181.97) 9,700.00 4,381.97 45.2%67-G&A-REPAIRS & MAINTENANCE6705690 Repairs & Maintenance-Equipment579.60 100.00 479.60 579.60 900.00 (320.40) 1,100.00 520.40 47.3%Total-G&A-REPAIRS & MAINTENANCE 579.60 100.00 479.60 579.60 900.00 (320.40) 1,100.00 520.40 47.3%67-G&A-OTHER EXPENSES6709020 Auto/Mileage Allowance400.00 400.00 - 4,000.00 4,000.00 - 4,800.00 800.00 16.7%6709150 Dues & Subscriptions- 50.00 (50.00) 456.00 1,150.00 (694.00) 1,700.00 1,244.00 73.2%6709180 Employee Recruiting/Relocation60.00 - 60.00 1,852.60 1,400.00 452.60 1,400.00 (452.60) -32.3%6709197 Equipment Rental673.99 480.00 193.99 6,878.71 4,800.00 2,078.71 5,760.00 (1,118.71) -19.4%6709202 Fees-Bank113.31 90.00 23.31 1,162.27 900.00 262.27 1,080.00 (82.27) -7.6%6709208 Fees-Payroll Processing1,204.26 1,100.00 104.26 12,767.16 11,000.00 1,767.16 13,200.00 432.84 3.3%6709220 Freight/Delivery- 50.00 (50.00) - 500.00 (500.00) 600.00 600.00 100.0%6709490 Miscellaneous - 100.00 (100.00) 147.63 1,000.00 (852.37) 1,200.00 1,052.37 87.7%6709491 Loss/Damage- - - 736.60 - 736.60 - 0.0%6709620 Postage/Mail Services 130.64 75.00 55.64 1,358.80 750.00 608.80 900.00 (458.80) -51.0%6709625 Professional Fees1,024.93 850.00 174.93 10,681.82 8,500.00 2,181.82 10,200.00 (481.82) -4.7%6709636 Promotion/Entertainment- 100.00 (100.00) 2,526.78 2,900.00 (373.22) 3,100.00 573.22 18.5%6709722 Seminars & Training- 200.00 (200.00) 836.08 2,000.00 (1,163.92) 2,400.00 1,563.92 65.2%6709810 Travel - 200.00 (200.00) - 400.00 (400.00) 1,100.00 1,100.00 100.0%6709820 Uniforms 104.85 75.00 29.85 975.35 900.00 75.35 1,050.00 74.65 7.1%Total-G&A-OTHER EXPENSES 3,711.98 3,770.00 (58.02) 44,379.80 40,200.00 4,179.80 48,490.00 4,846.80 10.0%23,544.76 25,861.00 (2,316.24) 249,512.09 259,510.00 (9,997.91) 312,385.00 63,609.51 20.4%Total-GENERAL & ADMINISTRATIVEMonth to Date Year to DateSilverRock ResortGeneral & Administrative Expense StatementApril 2013Annual Budget10 Income April Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4009300Resident Card Issue18,450.00 - 18,450.00 136,560.00 - 136,560.00 - - 0%- - 0% Total Revenue Resident Cards18,450.00 - 18,450.00 136,560.00 - 136,560.00 - - 0%Expense60-RC-SALARIES & BENEFITS6001800 Taxes-Employer Payroll 174.40 - 174.40 1,146.40 - 1,146.40 - - 0%6001325 Insurance-Workers Comp67.04 - 67.04 201.12 201.12 0%6001880 Wages-Hourly1,041.48 - 1,041.48 6,604.87 - 6,604.87 - - 0%6001882 Wages-Overtime - - - - - - - - 0%Total -RC-SALARIES & BENEFITS 1,282.92 - 1,282.92 7,952.39 - 7,952.39 - - 0%60-RC- OTHER EXPENSES6003762 Supplies-Office - - - - - - - - 0%6009490 Miscellaneous - - - 5,520.80 - 5,520.80 - - 0%6003740 Supplies-Computer- - - - - - - - 0%6009625 Professional Fees- - - 879.89 - 879.89 - - 0%Total RC-OTHER EXPENSES - - - 6,400.69 - 6,400.69 - - 0%1,282.92 - 1,282.92 14,353.08 - 14,353.08 - - 0%Net Income17,167.08 - 17,167.08 122,206.92 - 122,206.92 - - 0%Month to Date Year to Date Annual BudgetTotal-RESIDENT CARDSSilverRock ResortResident Card Income StatementApril 201311 April Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense68-LEASES6800192 Equipment Leases-Carts 11,093.11 12,075.00 (981.89) 116,330.35 120,750.00 (4,419.65) 144,900.00 28,569.65 19.7%6800194 Equipment Leases-Trailer 512.61 600.00 (87.39) 4,813.07 6,000.00 (1,186.93) 7,200.00 2,386.93 33.2%6800196 Equipment Leases-GPS 4,940.00 5,755.00 (815.00) 49,400.00 57,550.00 (8,150.00) 69,060.00 19,660.00 28.5%6800197 Equipment Leases-Others 1,409.17 460.00 949.17 6,591.17 4,600.00 1,991.17 5,520.00 (1,071.17) 0.0%17,954.89 18,890.00 (935.11) 177,134.59 188,900.00 (11,765.41) 226,680.00 49,545.41 21.9%69-MISC OTHER EXPENSES6900096 Contract Srvcs-Management Fee (2,437.13) (5,060.00) 2,622.87 45,052.07 66,602.00 (21,549.93) 90,000.00 44,947.93 49.9%6900210 FF&E Reserve 8,100.91 9,268.00 (1,167.09) 54,307.46 57,744.00 (3,436.54) 67,015.00 12,707.54 19.0%6900800 Personal Property Taxes - - - 13,093.20 14,800.00 (1,706.80) 14,800.00 1,706.80 11.5%6900323 Insurance-Commercial 2,766.00 2,200.00 566.00 26,575.65 22,000.00 4,575.65 26,400.00 (175.65) -0.7%8,429.78 6,408.00 2,021.78 139,028.38 161,146.00 (22,117.62) 198,215.00 59,186.62 29.9%Silverrock ResortOperating Leases & Miscellaneous Other Expense StatementApril 2013Annual BudgetMonth to Date Year to DateTotal-LEASESTotal-MISC OTHER EXPENSES12 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report-2012-20132012 2012 2012 2012 2012 2012Comp CategoryJulyAugustSeptemberOctoberNovemberDecemberMedia342 4SalesPromotion8Golf IndustryVIPCelebrityPGA Comp62 16 46 15 20 37Charity/Gift Certificate61511 428Rain/Wind Checks536Club Staff129 60 81 13 78 139LQ HS Golf8123194213 95 152 28 136 3162013 2013 2013 2013 2013 2013Comp CategoryJanuaryFebruaryMarchAprilMayJuneMedia68Sales24Promotion5Golf Industry2VIPCelebrityPGA Comp23 162330Charity/Gift Certificate8142216Rain/Wind Checks10 111111Club Staff132 5662102LQ HS Golf64 101 167 131248 210 285 294 0 013 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report-2012-2013April 2013 Date Time Description CategoryPlayers4/21/2013 11:37 Dronkowsky Fam Trip Sales 414