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08 February 2013 SilverRock Resort - Monthly Financial Statement Monthly Financial Statements July 2012 – February 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 February Final Budget Variance Percentages Unfavorable (-) Favorable (+) Final Budget Variance Annual Budget Unemcumb. % Bdgt Income400000 Golf Green Fee Revenue491,424.71 474,384.00 17,040.71 3.6% 1,757,118.52 1,851,147.00 (94,028.48) 3,350,773.00 1,593,654.48 52%401000 Miscellaneous Golf Revenue 48,608.20 22,913.00 25,695.20 112.1% 198,044.55 94,693.00 103,351.55 159,973.00 (38,071.55) 124%410000 Revenue-Golf Shop 36,029.24 44,188.00 (8,158.76) -18.5% 142,790.62 173,251.00 (30,460.38) 311,048.00 168,257.38 46%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 Income0.62 - 0.62 0.0% 5.41 - 5.41 - (5.41) 0%Total Income577,562.77 542,985.00 34,577.77 6.4% 2,106,959.10 2,128,091.00 (21,131.90) 3,833,794.00 1,726,834.90 55%Cost of Goods Sold510000 COS-Golf Shop 19,076.86 23,453.40 (4,376.54) 18.7% 77,132.44 91,954.05 14,821.61 165,088.40 87,955.96 47%Total COS19,076.86 23,453.40 (4,376.54) 18.7% 77,132.44 91,954.05 14,821.61 165,088.40 87,955.96 47%Gross Profit558,485.91 519,531.60 38,954.31 7.5% 2,029,826.66 2,036,136.95 (6,310.29) 3,668,705.60 1,638,878.94 55%Expenses610000 Golf Pro Shop 18,590.95 18,330.00 (260.95) -1.4% 135,506.20 138,317.00 2,810.80 212,986.00 77,479.80 64%630000 Course Maintenance125,774.44 121,331.00 (4,443.44) -3.7% 1,200,457.71 1,203,108.00 2,650.29 1,664,207.00 463,749.29 72%633000 Maintenance Water & Energy15,203.12 13,689.00 (1,514.12) -11.1% 140,315.66 132,915.00 (7,400.66) 221,749.00 81,433.34 63%640000 Outside Services28,661.41 27,276.00 (1,385.41) -5.1% 185,943.49 192,257.00 6,313.51 292,671.00 106,727.51 64%650000 Clubhouse 12,212.37 10,636.00 (1,576.37) -14.8% 85,508.92 88,788.00 3,279.08 132,232.00 46,723.08 65%660000 Marketing 23,368.78 24,639.00 1,270.22 5.2% 135,849.49 174,973.00 39,123.51 245,611.00 109,761.51 55%670000 General & Administrative30,286.05 26,311.00 (3,975.05) -15.1% 212,392.83 207,788.00 (4,604.83) 312,385.00 99,992.17 68%680000 Leases 18,478.43 18,890.00 411.57 2.2% 141,610.00 151,120.00 9,510.00 226,680.00 85,070.00 62%690000 Miscellaneous Other Expense843.58 6,836.00 5,992.42 87.7% 130,618.30 152,995.00 22,376.70 198,215.00 67,596.70 66%Total Expenses273,419.13 267,938.00 (5,481.13) -2.0% 2,368,202.60 2,442,261.00 74,058.40 3,506,736.00 1,138,533.40 68%285,066.78 251,593.60 33,473.18 13.3%(338,375.94) (406,124.05) 67,748.11 161,969.60 500,345.54 -209%Rounds of Golf PlayedPaid Rounds Played 5,529 4,700 829 17.6% 27,545 27,150 395 45,625 18,080 60%Ave $ Per Paid Round Green Fee88.88 100.93 (12.05) -11.9% 63.79 68.18 (4.39) 73.44 9.65 87%Ave $ Per Paid Round Merchandise6.52 9.40 (2.89) -30.7% 5.18 6.38 (1.20) 6.82 1.63 76%Ave $ Per Paid Miscellaneous 8.79 4.88 3.92 80.3% 7.19 3.49 3.70 3.51 (3.68) 0%SilverRock ResortSummary Operating Income StatementNet IncomeMonth to Date Year to DateFebruary 20131 ACTUALBUDGETVARIANCEMisc Golf Revenue46,399.43$ 22,913.00$ 23,486.43$ Favorable: Due to additional golf schools being held by Golf Made Simple. Driving range revenue was updue to ideal weather. An increase in club rental revenue for the month contributed to higher revenues for the month. SilverRock Operations has taken over the sale of La Quinta Resident Cards. Revenue of $18,015.00 for the month of February was recognized in the SilverRock Resort financials. This revenue was not projected in the original 2012-2013 Annual Plan.Pro Shop Merchandise Sales36,029.24$ 44,188.00$ (8,158.76)$ Unfavorable: Merchandise sales were down by nearly 20% due to conservative consumer spending. Thisappears to be consistent with other like golf facilities in the desert this winter. Year to date merchandise sales is below projection by $30,460.Pro Shop Cost of Sales19,076.86$ 23,453.40$ 4,376.54$ 52.95% 53.08% -0.13%Favorable: Due to reduced Hard/Softgood sales for the month. This cost is consistent with the markup percentage.Water & Energy15,203.12$ 13,689.00$ (1,514.12)$ Unfavorable: Energy costs exceeded budget by $711 and water usage exceeded budget by $802 the month of Februrary. Year to date Energy costs are in line with budgeted amount while water cost are tracking higher than the budgeted amount. by $7,322.Clubhouse12,212.37$ 10,636.00$ (1,576.37)$ Unfavorable: Due to the timing of roving security patrol's invoice, a $1576.00 variance was recognized in the month ofFebruary because of the roving patrol's pay periods. General and Administrative28,325.28$ 26,311.00$ (2,014.28)$ Unfavorable: Due to additional IT fees for upgrades to the computer virus software. Also, payroll processing fees were higher due to W2 forms & tax preparation which is projected for through the year.Miscellaneous843.58$ 6,836.00$ 5,992.42$ Favorable: Increased revenues for F&B for the month of February reduced the management feefor Landmark Golf Management as stated in the Financials. Variance ExplanationsFebruary 20133-20-132 Income February Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4000000 Revenue-Fees 491,424.71 474,384.00 17,040.71 1,757,118.52 1,851,147.00 (94,028.48) 3,350,773.001,593,654.4852%4010000 Rider Fee 900.00 1,263.00 (363.00) 5,670.00 4,763.00 907.00 7,643.001,973.0074%4040000 Club Rental 3,545.00 2,525.00 1,020.00 12,469.00 13,575.00 (1,106.00) 23,325.0010,856.0053%4050000 Driving Range 18,212.00 12,625.00 5,587.00 56,146.00 49,955.00 6,191.00 85,405.0029,259.0066%4060000 Handicap Fees 248.00 - 248.00 2,268.00 - 2,268.00 0.000.000%4080000 GPS Advertising - 500.00 (500.00) - 2,400.00 (2,400.00) 2,600.00 2,600.000%4090000 Ball Retriever/Subcontract - - - 3,976.70 3,000.00 976.70 4,000.00 23.3099%4091000 Golf Professional Rental Fee 7,312.50 6,000.00 1,312.50 23,862.50 21,000.00 2,862.50 37,000.00 13,137.50 64%4092000 Golf Lessons 375.70 - 375.70 967.35 - 967.35 - (967.35) 0%4093000 Resident Card Issue 18,015.00 - 18,015.00 92,685.00 - 92,685.00 - - 0% Total Revenue Fees 540,032.91 497,297.00 42,735.91 1,955,163.07 1,945,840.00 9,323.07 3,510,746.00 1,650,535.93 53%540,032.91 497,297.00 42,735.91 1,955,163.07 1,945,840.00 9,323.07 3,510,746.00 1,650,535.93 53%Total IncomeMonth to Date Year to Date Annual BudgetSilverRock ResortStatement of Fees RevenueFebruary 20133 Income February Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4100000 Sales Miscellaneous 254.00 - 254.00 1,222.66 - 1,222.66 0 0 0%4100110 Sales Hard Goods 11,198.36 15,466.00 (4,267.64) 55,633.82 60,639.00 (5,005.18) 108,867.00 53,233.18 51%4100112 Sales-Soft Goods 29,239.16 28,722.00 517.16 107,166.09 112,612.00 (5,445.91) 202,181.00 95,014.91 53%5100639 GS-Discounts-Mdse (4,662.28) - (4,662.28) (21,231.95) - (21,231.95) - 21,231.95 0% Total Revenue Golf Shop 36,029.24 44,188.00 (8,158.76) 142,790.62 173,251.00 (30,460.38) 311,048.00 169,480.04 46%COS 5100150 COS-GS-Hard Goods 6,253.05 8,506.30 (2,253.25) 29,970.86 33,351.45 (3,380.59) 59,876.85 29,905.99 50%5100151 COS-GS-Soft Goods 12,650.81 15,797.10 (3,146.29) 45,854.31 61,936.60 (16,082.29) 111,199.55 65,345.24 41%5100152 COS-GS-Purchase Disc (127.75) (1,215.00) 1,087.25 (1,557.06) (4,764.00) 3,206.94 (8,554.00) (6,996.94) -18%5100220 COS-GS-Freight Merch 300.75 365.00 (64.25) 2,864.33 1,430.00 1,434.33 2,566.00 (298.33) 112%Cost of Sales - Golf Shop 19,076.86 23,453.40 (4,376.54) 77,132.44 91,954.05 (14,821.61) 165,088.40 87,955.96 47%Gross Profit 16,952.38 20,734.60 (3,782.22) 65,658.18 81,296.95 (15,638.77) 145,959.60 81,524.08 44%COS % 52.9% 53.1% 0.1% 54.0% 53.1% -0.9% 53.1% 51.9% 2%Expense61-PS-SALARIES & BENEFITS6101320 Insurance Group 800.00 2,317.00 (1,517.00) 16,816.03 17,543.00 (726.97) 26,811.00 9,994.97 63%6101325 Insurance-Workers Comp 619.22 512.00 107.22 3,416.78 3,695.00 (278.22) 5,663.00 2,246.22 60%6101720 Salaries 3,918.16 3,750.00 168.16 30,508.96 30,000.00 508.96 45,000.00 14,491.04 68%6101800 Taxes-Employer Payroll 1,916.89 1,333.00 583.89 8,934.59 9,623.00 (688.41) 14,758.00 5,823.41 61%6101880 Wages-Hourly 8,556.39 9,008.00 (451.61) 60,891.37 62,086.00 (1,194.63) 96,229.00 35,337.63 63%6101882 Wages-Overtime 151.51 - 151.51 1,060.93 - 1,060.93 - 952.88 0%Total -PS-SALARIES & BENEFITS 15,962.17 16,920.00 (957.83) 121,628.66 122,947.00 (1,318.34) 188,461.00 68,846.15 63%61-PS OTHER EXPENSES6103742 Supplies-Expendable - - - - - - - - 0%6103762 Supplies-Office 1,928.05 500.00 1,428.05 2,604.80 4,000.00 (1,395.20) 6,000.00 3,395.20 43%6109090 Contract Services 500.00 500.00 - 4,000.00 4,000.00 - 6,000.00 2,000.00 67%6109220 Freight & Delivery - - - 212.23 75.00 137.23 75.00 (137.23) 283%6109490 Miscellaneous - 50.00 (50.00) 1,157.10 250.00 907.10 450.00 (707.10) 257%6109150 Dues and Subscriptions - - - - - - 2,300.00 2,300.00 0%6109500 ProShop-Over/Short (52.00) - (52.00) 3.63 - 3.63 - (3.63) 0%6109722 Seminars/Training - 35.00 (35.00) 2,316.25 4,535.00 (2,218.75) 5,890.00 3,573.75 39%6109810 Travel - Merchandise - 15.00 (15.00) - 30.00 (30.00) 90.00 90.00 0%6109820 Uniforms 179.57 200.00 (20.43) 2,844.31 1,600.00 1,244.31 2,400.00 (444.31) 119%6117840 Telephones 73.16 110.00 (36.84) 739.22 880.00 (140.78) 1,320.00 580.78 0%Total PS-OTHER EXPENSES 2,628.78 1,410.00 1,218.78 13,877.54 15,370.00 (1,492.46) 24,525.00 10,647.46 57%18,590.95 18,330.00 260.95 135,506.20 138,317.00 (2,810.80) 212,986.00 79,493.61 63%Net Income(1,638.57) 2,404.60 (4,043.17) (69,848.02) (57,020.05) (12,827.97) (67,026.40) 2,030.47 -103%Total Expenses-Golf ShopMonth to Date Year to Date Annual BudgetSilverRock ResortGolf Shop Income StatementFebruary 20134 February Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense63-CM-SALARIES & BENEFITS6311320 Insurance-Group 7,058.59 8,740.00 (1,681.41) 69,100.32 69,920.00 (819.68) 104,880.00 35,779.68 34.1%6311325 Insurance-Workers Comp 2,409.80 2,208.00 201.80 13,614.93 18,371.00 (4,756.07) 27,280.00 13,665.07 50.1%6311720 Salaries 12,502.40 11,001.60 1,500.80 95,014.40 88,012.80 7,001.60 150,996.00 55,981.60 37.1%6311800 Taxes-Employer Payroll 8,552.89 5,753.00 2,799.89 44,303.85 48,327.00 (4,023.15) 71,645.00 27,341.15 38.2%6311880 Wages-Hourly 45,533.17 44,054.40 1,478.77 374,245.82 361,393.20 12,852.62 518,654.00 144,408.18 27.8%6311882 Wages-Overtime 10.13 - 10.13 11,760.87 13,076.00 (1,315.13) 15,945.00 4,184.13 26.2%Total-CM-SALARIES & BENEFITS76,066.98 71,757.00 4,309.98 608,040.19 599,100.00 8,940.19 889,400.00 281,359.81 31.6%63-CM-SUPPLIES & MATERIALS6313734 Chemicals 3,507.88 - 3,507.88 22,790.06 - 22,790.06 31,100.00 8,309.94 26.7%6313744 Fertilizer 10,326.06 15,500.00 (5,173.94) 93,996.82 118,200.00 (24,203.18) 114,500.00 20,503.18 17.9%6313745 Herbicides - - - 17,281.37 17,000.00 281.37 17,000.00 (281.37) -1.7%6313746 Flowers/Plants - 100.00 (100.00) 2,357.82 2,850.00 (492.18) 3,050.00 692.18 22.7%6313748 Fuel-Gasoline 3,551.17 3,820.00 (268.83) 36,210.19 40,870.00 (4,659.81) 55,020.00 18,809.81 34.2%6313750 Golf Course Accessories 94.96 100.00 (5.04) 14,473.87 12,600.00 1,873.87 13,000.00 (1,473.87) -11.3%6313756 POA Control 460.16 - 460.16 8,297.78 7,000.00 1,297.78 7,000.00 (1,297.78) -18.5%6313758 Miscellaneous Supp 975.95 100.00 875.95 6,015.30 3,950.00 2,065.30 4,350.00 (1,665.30) 0.0%6313762 Supplies-Office 67.57 - 67.57 603.96 - 603.96 - (603.96) 0.0%6313774 Sand 358.24 100.00 258.24 6,801.03 16,060.00 (9,258.97) 16,460.00 9,658.97 58.7%6313776 Seed - 350.00 (350.00) 106,483.19 105,410.00 1,073.19 106,810.00 326.81 0.3%6313778 Small Tools & Non-Capital Equip 129.60 100.00 29.60 4,423.14 4,600.00 (176.86) 5,000.00 576.86 11.5%6313780 Sod 407.94 - 407.94 7,175.31 7,250.00 (74.69) 7,950.00 774.69 9.7%6313782 Topdressing - - - 7,026.64 5,000.00 2,026.64 7,600.00 573.36 7.5%Total-CM-SUPPLIES & MATERIALS19,879.53 20,170.00 (290.47) 333,936.48 340,790.00 (6,853.52) 388,840.00 54,903.52 14.1%63-CM-REPAIRS & MAINTENANCE6315095 CM-R&M-Contract Lake Maint 2,830.00 2,600.00 230.00 22,640.00 20,800.00 1,840.00 31,200.00 8,560.00 27.4%6315685 CM-R&M-Bldngs & Othr Structures 98.27 250.00 (151.73) 941.21 4,550.00 (3,608.79) 5,550.00 4,608.79 83.0%6315690 CM-R&M-Equipment 2,173.53 2,000.00 173.53 33,261.72 22,000.00 11,261.72 31,000.00 (2,261.72) -7.3%6315692 CM-R&M-Irrigation System 1,111.63 1,000.00 111.63 12,016.65 18,650.00 (6,633.35) 22,650.00 10,633.35 46.9%6315696 CM-R&M-Pumps 301.25 1,000.00 (698.75) 5,858.06 8,000.00 (2,141.94) 10,500.00 4,641.94 44.2%6315815 CM-R&M-Trees-Pruning Etc - - - 7,500.00 4,050.00 3,450.00 10,050.00 2,550.00 25.4%Total-CM-REPAIRS & MAINTENANCE 6,514.68 6,850.00 (335.32) 82,217.64 78,050.00 4,167.64 110,950.00 28,732.36 25.9%63-CM-UTILTIES6317836 Utilities-Natural Gas/LPG 25.63 15.00 10.63 195.32 120.00 75.32 180.00 (15.32) 0.0%6317840 Telephones 1,183.52 850.00 333.52 9,564.83 6,800.00 2,764.83 10,200.00 635.17 6.2%Total-CM-UTILITIES 1,209.15 865.00 344.15 9,760.15 6,920.00 2,840.15 10,380.00 619.85 6.0%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 4,000.00 100.0%6319102 Contract Svcs-Trash Removal 627.58 524.00 103.58 6,755.26 4,192.00 2,563.26 6,288.00 (467.26) 0.0%6319150 Dues & Subscriptions - 240.00 (240.00) 1,010.00 240.00 770.00 540.00 (470.00) -87.0%6319170 Employee Education - 1,000.00 (1,000.00) - 1,350.00 (1,350.00) 1,550.00 1,550.00 100.0%6319197 Equipment Rental - 200.00 (200.00) 579.13 3,500.00 (2,920.87) 4,200.00 3,620.87 86.2%6319206 Licenses & Permits - - - - 280.00 (280.00) 1,430.00 1,430.00 100.0%6319490 Miscellaneous 23.27 100.00 (76.73) 1,968.09 800.00 1,168.09 1,200.00 (768.09) -64.0%6319718 Safety Equipment & Training 1,625.20 200.00 1,425.20 4,860.57 3,350.00 1,510.57 3,850.00 (1,010.57) -26.2%6319822 Uniforms 1,995.28 920.00 1,075.28 10,410.96 7,360.00 3,050.96 11,040.00 629.04 5.7%Total-CM-OTHER EXPENSES 4,771.33 3,684.00 1,087.33 29,584.01 27,072.00 2,512.01 40,098.00 10,513.99 26.2%Month to Date Year to DateSilverRock ResortCourse Maintenance Expense StatementFebruary 2013Annual Budget5 February Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget632-CM-LANDSCAPE MAINTENANCE632-CM-LM-SALARIES & BENEFITS6321320 Insurance-Group 780.00 2,648.00 (1,868.00) 15,160.98 21,184.00 (6,023.02) 31,776.00 16,615.02 52.3%6321325 Insurance-Workers Comp 442.30 516.00 (73.70) 3,938.30 4,271.00 (332.70) 6,361.00 2,422.70 38.1%6321800 Taxes-Employer Payroll 1,261.21 1,346.00 (84.79) 10,417.24 11,323.00 (905.76) 16,808.00 6,390.76 38.0%6321880 Wages-Hourly 14,216.00 12,880.00 1,336.00 103,182.66 103,040.00 142.66 154,560.00 51,377.34 33.2%6321882 Wages-Overtime 12.09 - 12.09 1,847.83 5,313.00 (3,465.17) 6,279.00 4,431.17 70.6%Total-CM-LM-SALARIES & BENEFITS16,711.60 17,390.00 (678.40) 134,547.01 145,131.00 (10,583.99) 215,784.00 81,236.99 37.6%632-CM-LM-SUPPLIES & MATERIALS6323778 Small Tools - 75.00 (75.00) - 725.00 (725.00) 1,025.00 1,025.00 100.0%6323788 Uniforms 400.77 290.00 110.77 2,151.83 2,320.00 (168.17) 3,480.00 1,328.17 38.2%Total-CM-LM-SUPPLIES & MATERIALS400.77 365.00 35.77 2,151.83 3,045.00 (893.17) 4,505.00 2,353.17 52.2%632-CM-LM-REPAIRS & MAINTENANCE6325687 CM-LM-R&M-Drip Irrigation 220.40 250.00 (29.60) 220.40 3,000.00 (2,779.60) 4,250.00 4,029.60 94.8%Total-CM-LM-REPAIRS & MAINTENANCE 220.40 250.00 (29.60) 220.40 3,000.00 (2,779.60) 4,250.00 4,029.60 94.8%125,774.44 121,331.00 4,443.44 1,200,457.71 1,203,108.00 (2,650.29) 1,664,207.00 463,749.29 27.9% February Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget633-CM-WATER & ENERGY6337834 Utilities-Electricity-Pumping 12,927.59 12,216.00 711.59 102,799.94 102,722.00 77.94 178,691.00 75,891.06 42.5%6337842 Utilities-Water2,275.53 1,473.00 802.53 37,515.72 30,193.00 7,322.72 43,058.00 5,542.28 12.9%15,203.12 13,689.00 1,514.12 140,315.66 132,915.00 7,400.66 221,749.00 81,433.34 36.7%Total-CM-WATER & ENERGYMonth to Date Year to Date Annual BudgetSilverrock ResortCourse Maintenance Water & EnergyFebruary 2013Total-COURSE MAINTENANCESilverrock ResortCourse Maintenance Expense StatementFebruary 2013Annual BudgetMonth to Date Year to Date6 February Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense641-CBR-SALARIES & BENEFITS6411320 Insurance-Group 400.00 662.00 (262.00) 2,958.24 5,296.00 (2,337.76) 7,944.00 4,985.76 62.8%6411325 Insurance-Workers Comp 1,061.52 550.00 511.52 3,178.19 3,302.00 (123.81) 5,135.00 1,956.81 38.1%6411800 Taxes-Employer Payroll 2,043.04 1,707.00 336.04 10,427.81 10,250.00 177.81 15,942.00 5,514.19 34.6%6411880 Wages-Hourly 13,190.63 13,710.00 (519.37) 82,396.17 82,332.00 64.17 128,052.00 45,655.83 35.7%6411882 Wages-Overtime 261.57 - 261.57 1,217.47 - 1,217.47 - (1,217.47) 0.0%Total-CBR-SALARIES & BENEFITS16,956.76 16,629.00 327.76 100,177.88 101,180.00 (1,002.12) 157,073.00 56,895.12 36.2%641-CBR-SUPPLIES & MATERIALS6413732 Supplies-Carts - 75.00 (75.00) 671.83 2,150.00 (1,478.17) 2,350.00 1,678.17 71.4%6413742 Supplies-Expendable 2,200.44 1,000.00 1,200.44 8,009.71 5,450.00 2,559.71 6,750.00 (1,259.71) -18.7%6413748 Supplies-Fuel for Shuttle 188.79 450.00 (261.21) 763.64 1,800.00 (1,036.36) 3,000.00 2,236.36 74.5%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) - 325.00 (325.00) 525.00 525.00 100.0%6413768 Supplies-Printing and Stationary 59.27 70.00 (10.73) 59.27 140.00 (80.73) 420.00 360.73 85.9%6413786 Supplies-Towels 320.00 72.00 248.00 2,317.41 717.00 1,600.41 1,005.00 (1,312.41) -130.6%6413796 Supplies-Bottled Water29.99 50.00 (20.01) 9,882.00 12,350.00 (2,468.00) 24,500.00 14,618.00 59.7%Total-CBR-SUPPLIES & MATERIALS2,798.49 1,767.00 1,031.49 30,881.61 31,932.00 (1,050.39) 47,550.00 16,668.39 35.1%641-CBR-REPAIRS & MAINTENANCE6415690 CBR-R&M-Equipment 90.20 300.00 (209.80) 2,190.34 2,400.00 (209.66) 3,600.00 1,409.66 39.2%6415695 CBR-R&M-Cart Maintenance & Repair 819.83 750.00 69.83 4,230.45 6,750.00 (2,519.55) 9,750.00 5,519.55 56.6%Total-CBR-REPAIRS & MAINTENANCE 910.03 1,050.00 (139.97) 6,420.79 9,150.00 (2,729.21) 13,350.00 6,929.21 51.9%641-CBR-OTHER EXPENSES6419094 Contract Services-Laundry/Linen 1,032.11 800.00 232.11 6,531.90 6,400.00 131.90 9,600.00 3,068.10 32.0%6419220 Freight/Delivery - - - - 450.00 (450.00) 450.00 450.00 100.0%6419490 Miscellaneous - 75.00 (75.00) 255.78 650.00 (394.22) 1,150.00 894.22 77.8%6419820 Uniforms - - - 2,317.39 3,000.00 (682.61) 5,200.00 2,882.61 55.4%Total-CBR-OTHER EXPENSES 1,032.11 875.00 157.11 9,105.07 10,500.00 (1,394.93) 16,400.00 7,294.93 44.5%TOTAL-CARTS,BAGROOM & RANGE 21,697.39 20,321.00 1,376.39 146,585.35 152,762.00 (6,176.65) 234,373.00 87,787.65 37.5%643-CS-SALARIES & BENEFITS6431320 Insurance-Group - - - - - - - - 0.0%6431325 Insurance-Workers Comp 442.30 236.00 206.30 2,090.48 1,287.00 803.48 1,903.00 (187.48) -9.9%6431800 Taxes-Employer Payroll 754.22 614.00 140.22 3,865.15 3,348.00 517.15 4,960.00 1,094.85 22.1%6431880 Wages-Hourly 5,184.00 5,880.00 (696.00) 30,366.00 32,060.00 (1,694.00) 47,460.00 17,094.00 36.0%6431882 Wages-Overtime - - - - - - - - 0.0%Total-CS-SALARIES & BENEFITS6,380.52 6,730.00 (349.48) 36,321.63 36,695.00 (373.37) 54,323.00 18,001.37 33.1%643-CS-OTHER EXPENSES6433742 Supplies Expendable - 100.00 (100.00) 691.76 700.00 (8.24) 1,050.00 358.24 34.1%6439490 Miscellaneous 304.04 - 304.04 951.29 200.00 751.29 200.00 (751.29) -375.6%6439718 Safety Equipment & Training - 50.00 (50.00) - 400.00 (400.00) 600.00 600.00 100.0%6439820 Uniforms 279.46 75.00 204.46 1,393.46 1,500.00 (106.54) 2,125.00 731.54 34.4%Total-CS-OTHER EXPENSES 583.50 225.00 358.50 3,036.51 2,800.00 236.51 3,975.00 938.49 23.6%Total-COURSE SERVICES 6,964.02 6,955.00 9.02 39,358.14 39,495.00 (136.86) 58,298.00 18,939.86 32.5%28,661.41 27,276.00 1,385.41 185,943.49 192,257.00 (6,313.51) 292,671.00 105,789.02 36.1%TOTAL OUTSIDE SERVICESMonth to Date Year to DateSilverRock ResortOutside Services Expense StatementFebruary 2013Annual Budget7 February Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense65-CH-SUPPLIES & MATERIALS6503742 Supplies-Expendable- 400.00 (400.00) 1,264.00 3,200.00 (1,936.00) 4,800.00 3,536.00 73.7%Total-CH-SUPPLIES & MATERIALS - 400.00 (400.00) 1,264.00 3,200.00 (1,936.00) 4,800.00 3,536.00 73.7%65-CH-UTILITIES6507836 Utilities-Natural Gas481.06 300.00 181.06 1,924.02 2,400.00 (475.98) 3,600.00 1,675.98 46.6%6507840 Utilities-Telephone1,257.02 1,150.00 107.02 9,807.74 9,200.00 607.74 13,800.00 3,992.26 28.9%6507842 Utilities-Water385.20 321.00 64.20 2,797.58 2,568.00 229.58 3,852.00 1,054.42 27.4%6507844 Utilities-Cable336.91 340.00 (3.09) 2,695.28 2,720.00 (24.72) 4,080.00 1,384.72 33.9%Total-CH-UTILITIES 2,460.19 2,111.00 349.19 17,224.62 16,888.00 336.62 25,332.00 8,107.38 32.0%65-CH-OTHER EXPENSES6509091 Contract Services-Cleaning2,189.00 1,825.00 364.00 14,964.00 15,200.00 (236.00) 22,500.00 7,536.00 33.5%6509099 Contract Services-Security6,658.60 4,900.00 1,758.60 43,050.28 40,800.00 2,250.28 60,400.00 17,349.72 28.7%6509215 Flowers & Decorations- - - 98.89 1,500.00 (1,401.11) 2,400.00 2,301.11 95.9%6509490 Miscellaneous- 200.00 (200.00) 206.21 1,600.00 (1,393.79) 2,400.00 2,193.79 91.4%6509718 Safety Equipment & Training- 100.00 (100.00) 597.31 800.00 (202.69) 1,200.00 602.69 50.2%Total-CH-OTHER EXPENSES 8,847.60 7,025.00 1,822.60 58,916.69 59,900.00 (983.31) 88,900.00 29,983.31 33.7%65-CH-REPAIRS & MAINTENANCE6515685 CH-R&M-Building Structures304.58 300.00 4.58 2,611.64 2,400.00 211.64 3,600.00 988.36 27.5%6515686 CH-R&M-Restaurant Repairs600.00 400.00 200.00 3,618.00 3,200.00 418.00 4,800.00 1,182.00 24.6%6515690 CH-R&M-Equipment Repair- 400.00 (400.00) 1,873.97 3,200.00 (1,326.03) 4,800.00 2,926.03 61.0%Total-CH-REPAIRS & MAINTENANCE 904.58 1,100.00 (195.42) 8,103.61 8,800.00 (696.39) 13,200.00 5,096.39 38.6%12,212.37 10,636.00 1,576.37 85,508.92 88,788.00 (3,279.08) 132,232.00 10,192.78 7.7%Total CLUBHOUSEMonth to Date Year to DateSilverRock ResortClubhouse Expense StatementFebruary 2013Annual Budget8 February Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense66-MKT-SALARIES & BENEFITS6601320 Insurance-Group 200.00 331.00 (131.00) 2,588.46 2,648.00 (59.54) 3,972.00 1,383.54 34.8%6601325 Insurance-Workers Comp 88.46 101.00 (12.54) 1,218.02 808.00 410.02 1,207.00 (11.02) -0.9%6601720 Salaries 2,096.81 2,508.00 (411.19) 19,202.59 20,064.00 (861.41) 30,096.00 10,893.41 36.2%6601800 Taxes-Employer Payroll 458.07 262.00 196.07 2,822.47 2,096.00 726.47 3,145.00 322.53 10.3%Total-MKT-SALARIES & BENEFITS 2,843.34 3,202.00 (358.66) 25,831.54 25,616.00 215.54 38,420.00 12,588.46 32.8%66-MKT-SUPPLIES & MATERIALS6603762 Supplies-Office - 100.00 (100.00) - 800.00 (800.00) 1,200.00 1,200.00 100.0%6603768 Supplies-Printing & Stationery 295.53 125.00 170.53 4,915.32 3,925.00 990.32 4,425.00 (490.32) -11.1%295.53 225.00 70.53 4,915.32 4,725.00 190.32 5,625.00 709.68 12.6%66-MKT-UTILITIES6607840 Utilities-Telephone 105.64 100.00 5.64 844.96 800.00 44.96 1,200.00 355.04 29.6%Total-MKT-UTILITIES 105.64 100.00 5.64 844.96 800.00 44.96 1,200.00 355.04 29.6%66-MKT-OTHER EXPENSES6609010 Advertising 18,354.44 19,112.00 (757.56) 100,071.43 127,747.00 (27,675.57) 179,231.00 79,159.57 44.2%6609040 Business Meals - - - - - - 300.00 300.00 100.0%6609080 Collateral Material 741.56 500.00 241.56 2,159.92 6,500.00 (4,340.08) 9,000.00 6,840.08 76.0%6609102 Contract Services-Web Page 297.00 300.00 (3.00) 792.00 2,400.00 (1,608.00) 3,600.00 2,808.00 78.0%6609490 Miscellaneous - 50.00 (50.00) - 200.00 (200.00) 350.00 350.00 100.0%6609620 Postage - 50.00 (50.00) 19.82 400.00 (380.18) 600.00 580.18 96.7%6609630 Promotion - 25.00 (25.00) 104.43 200.00 (95.57) 3,000.00 2,895.57 0.0%6609633 Promotion-Community 487.95 125.00 362.95 766.75 2,450.00 (1,683.25) 2,250.00 1,483.25 65.9%6609634 Promotion-Media/Vendor - 500.00 (500.00) - 3,000.00 (3,000.00) 700.00 - 0.0%6609150 Dues and Subscriptions 243.32 400.00 (156.68) 343.32 435.00 (91.68) 735.00 391.68 53.3%6609820 Uniforms - 50.00 (50.00) - 500.00 (500.00) 600.00 600.00 100.0%Total-MKT-OTHER EXPENSES 20,124.27 21,112.00 (987.73) 104,257.67 143,832.00 (39,574.33) 200,366.00 95,408.33 47.6%23,368.78 24,639.00 (1,270.22) 135,849.49 174,973.00 (39,123.51) 245,611.00 109,061.51 44.4%Total-MARKETINGMonth to Date Year to DateSilverRock ResortMarketing Expense StatementFebruary 2013Annual Budget9 February Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense67-G&A-SALARIES & BENEFITS6701320 Insurance-Group1,200.00 1,458.00 (258.00) 12,471.03 11,664.00 807.03 17,496.00 5,024.97 28.7%6701325 Insurance-Workers Comp265.38 688.00 (422.62) 3,618.41 5,504.00 (1,885.59) 8,254.00 4,635.59 56.2%6701720 Salaries 16,224.39 15,003.00 1,221.39 118,346.34 120,024.00 (1,677.66) 178,000.00 59,653.66 33.5%6701800 Taxes-Employer Payroll 1,493.74 1,792.00 (298.26) 11,360.66 14,336.00 (2,975.34) 21,510.00 10,149.34 47.2%6701880 Wages-Hourly2,216.11 2,150.00 66.11 15,440.40 17,200.00 (1,759.60) 27,835.00 12,394.60 44.5%6701882 Wages-Overtime - - - 22.69 - 22.69 - (22.69) 0.0%Total-G&A-SALARIES & BENEFITS 21,399.62 21,091.00 308.62 161,259.53 168,728.00 (7,468.47) 253,095.00 91,835.47 36.3%67-G&A-SUPPLIES & MATERIALS6703740 Supplies-Computer764.10 400.00 364.10 1,908.09 3,200.00 (1,291.91) 5,200.00 3,291.91 63.3%6703762 Supplies-Office 199.95 100.00 99.95 1,246.08 800.00 446.08 1,200.00 (46.08) -3.8%6703768 Supplies-Printing & Stationery- 400.00 (400.00) 711.44 1,700.00 (988.56) 3,300.00 2,588.56 78.4%Total-G&A-SUPPLIES & MATERIALS 964.05 900.00 64.05 3,865.61 5,700.00 (1,834.39) 9,700.00 5,834.39 60.1%67-G&A-REPAIRS & MAINTENANCE6705690 Repairs & Maintenance-Equipment- 100.00 (100.00) - 700.00 (700.00) 1,100.00 1,100.00 100.0%Total-G&A-REPAIRS & MAINTENANCE - 100.00 (100.00) - 700.00 (700.00) 1,100.00 1,100.00 100.0%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 & Subscriptions291.00 400.00 (109.00) 456.00 1,050.00 (594.00) 1,700.00 1,244.00 73.2%6709180 Employee Recruiting/Relocation150.00 200.00 (50.00) 1,762.60 1,200.00 562.60 1,400.00 (362.60) -25.9%6709197 Equipment Rental559.98 480.00 79.98 5,381.40 3,840.00 1,541.40 5,760.00 378.60 6.6%6709202 Fees-Bank104.21 90.00 14.21 932.84 720.00 212.84 1,080.00 147.16 13.6%6709208 Fees-Payroll Processing1,563.53 1,100.00 463.53 10,455.23 8,800.00 1,655.23 13,200.00 2,744.77 20.8%6709220 Freight/Delivery- 50.00 (50.00) - 400.00 (400.00) 600.00 600.00 100.0%6709490 Miscellaneous - 100.00 (100.00) 147.63 800.00 (652.37) 1,200.00 1,052.37 87.7%6709491 Loss/Damage736.60 - 736.60 736.60 - 736.60 - 0.0%6709620 Postage/Mail Services 241.85 75.00 166.85 1,097.67 600.00 497.67 900.00 (197.67) -22.0%6709625 Professional Fees1,334.21 850.00 484.21 8,054.68 6,800.00 1,254.68 10,200.00 2,145.32 21.0%6709636 Promotion/Entertainment- 100.00 (100.00) 2,526.78 2,700.00 (173.22) 3,100.00 573.22 18.5%6709722 Seminars & Training- 200.00 (200.00) 586.08 1,600.00 (1,013.92) 2,400.00 1,813.92 75.6%6709810 Travel - 100.00 (100.00) - 200.00 (200.00) 1,100.00 1,100.00 100.0%6709820 Uniforms 580.23 75.00 505.23 870.50 750.00 120.50 1,050.00 179.50 17.1%Total-G&A-OTHER EXPENSES 5,961.61 4,220.00 1,741.61 36,208.01 32,660.00 3,548.01 48,490.00 13,018.59 26.8%28,325.28 26,311.00 2,014.28 201,333.15 207,788.00 (6,454.85) 312,385.00 111,788.45 35.8%Total-GENERAL & ADMINISTRATIVEMonth to Date Year to DateSilverRock ResortGeneral & Administrative Expense StatementFebruary 2013Annual Budget10 Income February Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4009300Resident Card Issue18,015.00 - 18,015.00 92,685.00 - 92,685.00 - - 0%- - 0% Total Revenue Resident Cards18,015.00 - 18,015.00 92,685.00 - 92,685.00 - - 0%Expense60-RC-SALARIES & BENEFITS6001800 Taxes-Employer Payroll 274.40 - 274.40 797.60 - 797.60 - - 0%6001880 Wages-Hourly1,457.41 - 1,457.41 4,521.91 - 4,521.91 - - 0%6001882 Wages-Overtime - - - - - - - - 0%Total -RC-SALARIES & BENEFITS 1,731.81 - 1,731.81 5,319.51 - 5,319.51 - - 0%60-RC- OTHER EXPENSES6003762 Supplies-Office - - - - - - - - 0%6009490 Miscellaneous 228.96 - 228.96 4,860.28 - 4,860.28 - - 0%6003740 Supplies-Computer- - - - - - - - 0%6009625 Professional Fees- - - 879.89 - 879.89 - - 0%Total RC-OTHER EXPENSES 228.96 - 228.96 5,740.17 - 5,740.17 - - 0%1,960.77 - 1,960.77 11,059.68 - 11,059.68 - - 0%Net Income16,054.23 - 16,054.23 81,625.32 - 81,625.32 - - 0%Month to Date Year to Date Annual BudgetTotal-RESIDENT CARDSSilverRock ResortResident Card Income StatementFebruary 201311 February Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense68-LEASES6800192 Equipment Leases-Carts 11,113.74 12,075.00 (961.26) 93,238.25 96,600.00 (3,361.75) 144,900.00 51,661.75 35.7%6800194 Equipment Leases-Trailer 512.61 600.00 (87.39) 3,787.85 4,800.00 (1,012.15) 7,200.00 3,412.15 47.4%6800196 Equipment Leases-GPS 4,940.00 5,755.00 (815.00) 39,520.00 46,040.00 (6,520.00) 69,060.00 29,540.00 42.8%6800197 Equipment Leases-Others 1,912.08 460.00 1,452.08 5,063.90 3,680.00 1,383.90 5,520.00 456.10 0.0%18,478.43 18,890.00 (411.57) 141,610.00 151,120.00 (9,510.00) 226,680.00 85,070.00 37.5%69-MISC OTHER EXPENSES6900096 Contract Srvcs-Management Fee (11,953.01) (4,852.00) (7,101.01) 62,047.24 83,572.00 (21,524.76) 90,000.00 27,952.76 31.1%6900210 FF&E Reserve 9,515.51 9,488.00 27.51 34,829.41 37,023.00 (2,193.59) 67,015.00 32,185.59 48.0%6900800 Personal Property Taxes 395.20 - 395.20 12,698.00 14,800.00 (2,102.00) 14,800.00 2,102.00 14.2%6900323 Insurance-Commercial 2,885.88 2,200.00 685.88 21,043.65 17,600.00 3,443.65 26,400.00 5,356.35 20.3%843.58 6,836.00 (5,992.42) 130,618.30 152,995.00 (22,376.70) 198,215.00 67,596.70 34.1%Annual BudgetMonth to Date Year to DateTotal-LEASESTotal-MISC OTHER EXPENSESSilverrock ResortOperating Leases & Miscellaneous Other Expense StatementFebruary 201312 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 CategoryJanuaryFebruaryMarchAprilMayJuneMedia68Sales2Promotion5Golf Industry2VIPCelebrityPGA Comp23 16Charity/Gift Certificate814Rain/Wind Checks10 11Club Staff132 56LQ HS Golf64 101248210000013 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report-2012-2013February 2013 Date Time Description CategoryPlayers2/2/2013 11:37 Kris Long Media 42/4/2013 7:30 Paul Flezar Sales 22/12/2013 8:45 Richard Kitchen / 2 Guys Who Golf Web Site Golf Ind 22/28/2013 11:00 John White Media 414