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09 March 2013 SilverRock Resort - Monthly Financial Statement
Monthly Financial Statements July 2012 – March 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 March Final Budget Variance Percentages Unfavorable (-) Favorable (+) Final Budget Variance Annual Budget Unemcumb. % Bdgt Income400000 Golf Green Fee Revenue568,856.87 572,648.00 (3,791.13) -0.7% 2,325,975.39 2,423,795.00 (97,819.61) 3,350,773.00 1,024,797.61 69%401000 Miscellaneous Golf Revenue 58,845.00 26,250.00 32,595.00 124.2% 256,889.55 120,943.00 135,946.55 159,973.00 (96,916.55) 161%410000 Revenue-Golf Shop 42,461.39 49,600.00 (7,138.61) -14.4% 184,628.31 222,851.00 (38,222.69) 311,048.00 126,419.69 59%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 Income0.87 - 0.87 0.0% 6.28 - 6.28 - (6.28) 0%Total Income671,664.13 649,998.00 21,666.13 3.3% 2,777,999.53 2,778,089.00 (89.47) 3,833,794.00 1,055,794.47 72%Cost of Goods Sold510000 COS-Golf Shop 22,707.05 26,325.00 (3,617.95) 13.7% 99,839.49 118,279.05 18,439.56 165,088.40 65,248.91 60%Total COS22,707.05 26,325.00 (3,617.95) 13.7% 99,839.49 118,279.05 18,439.56 165,088.40 65,248.91 60%Gross Profit648,957.08 623,673.00 25,284.08 4.1% 2,678,160.04 2,659,809.95 18,350.09 3,668,705.60 990,545.56 73%Expenses610000 Golf Pro Shop 19,939.60 18,330.00 (1,609.60) -8.8% 155,445.80 156,647.00 1,201.20 212,986.00 57,540.20 73%630000 Course Maintenance123,474.81 115,177.00 (8,297.81) -7.2% 1,323,932.52 1,318,285.00 (5,647.52) 1,664,207.00 340,274.48 80%633000 Maintenance Water & Energy14,224.78 15,555.00 1,330.22 8.6% 154,540.44 148,470.00 (6,070.44) 221,749.00 67,208.56 70%640000 Outside Services31,894.73 27,272.00 (4,622.73) -17.0% 217,838.22 219,529.00 1,690.78 292,671.00 74,832.78 74%650000 Clubhouse 10,460.51 11,136.00 675.49 6.1% 95,969.43 99,924.00 3,954.57 132,232.00 36,262.57 73%660000 Marketing 27,268.23 24,607.00 (2,661.23) -10.8% 163,117.72 199,580.00 36,462.28 245,611.00 82,493.28 66%670000 General & Administrative26,510.58 25,861.00 (649.58) -2.5% 238,903.41 233,649.00 (5,254.41) 312,385.00 73,481.59 76%680000 Leases 17,569.70 18,890.00 1,320.30 7.0% 159,179.70 170,010.00 10,830.30 226,680.00 67,500.30 70%690000 Miscellaneous Other Expense(19.70) 1,743.00 1,762.70 101.1% 130,598.60 154,738.00 24,139.40 198,215.00 67,616.40 66%Total Expenses271,323.24 258,571.00 (12,752.24) -4.9% 2,639,525.84 2,700,832.00 61,306.16 3,506,736.00 867,210.16 75%377,633.84 365,102.00 12,531.84 3.4%38,634.20 (41,022.05) 79,656.25 161,969.60 123,335.40 24%Rounds of Golf PlayedPaid Rounds Played 6,564 6,200 364 5.9% 34,109 33,350 759 45,625 11,516 75%Ave $ Per Paid Round Green Fee86.66 92.36 (5.70) -6.2% 68.19 72.68 (4.49) 73.44 5.25 93%Ave $ Per Paid Round Merchandise6.47 8.00 (1.53) -19.1% 5.41 6.68 (1.27) 6.82 1.40 79%Ave $ Per Paid Miscellaneous 8.96 4.23 4.73 111.7% 7.53 3.63 3.90 3.51 (4.03) 0%SilverRock ResortSummary Operating Income StatementNet IncomeMonth to Date Year to DateMarch 20131 ACTUALBUDGETVARIANCEMisc Golf Revenue56,968.60$ 26,250.00$ 30,718.60$ Favorable: Additional golf schools by Golf Made Simple increased golf instructor fees to $1,998 more than projected for the month. Driving range revenue was up by $4,367 due to increased traffic on the range. As a result of SilverRock Operations taking over the distribution of the La Quinta Resident Cards, revenues of $25,425.00 for the month of March are being recognized on the SilverRock Financials. This revenue was not part of the original 2012-2013 Annual Plan.Pro Shop Merchandise Sales42,461.39$ 49,600.00$ (7,138.61)$ 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 season. Outside Services31,894.73$ 27,272.00$ (4,622.87)$ Unfavorable: Due to replacement of 3 Ranger cart's batteries. This replacement was required to due excessive hoursabove and beyond the warranty. Marketing27,268.23$ 24,607.00$ (2,661.23)$ Unfavorable: Due to advertising increase for commercial with Point7West. They required a 50% down payment for thecommercial shoot. Year to date expenses are below budget by $36,462. Miscellaneous(19.70)$ 1,743.00$ 1,762.70$ Favorable: Increased revenues for F&B for the month of March reduced the management feefor Landmark Golf Management as stated in the Financials. Variance ExplanationsMarch 20132 Income March Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4000000 Revenue-Fees 568,856.87 572,648.00 (3,791.13) 2,325,975.39 2,423,795.00 (97,819.61) 3,350,773.001,024,797.6169%4010000 Rider Fee 1,225.00 1,550.00 (325.00) 6,895.00 6,313.00 582.00 7,643.00748.0090%4040000 Club Rental 4,330.00 3,100.00 1,230.00 16,799.00 16,675.00 124.00 23,325.006,526.0072%4050000 Driving Range 19,867.00 15,500.00 4,367.00 76,013.00 65,455.00 10,558.00 85,405.009,392.0089%4060000 Handicap Fees - - - 2,268.00 - 2,268.00 0.000.000%4080000 GPS Advertising - 100.00 (100.00) - 2,500.00 (2,500.00) 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 7,998.00 6,000.00 1,998.00 31,860.50 27,000.00 4,860.50 37,000.00 5,139.50 86%4092000 Golf Lessons - - - 967.35 - 967.35 - (967.35) 0%4093000 Resident Card Issue 25,425.00 - 25,425.00 118,110.00 - 118,110.00 - - 0% Total Revenue Fees 627,701.87 598,898.00 28,803.87 2,582,864.94 2,544,738.00 38,126.94 3,510,746.00 1,048,259.06 70%627,701.87 598,898.00 28,803.87 2,582,864.94 2,544,738.00 38,126.94 3,510,746.00 1,048,259.06 70%SilverRock ResortStatement of Fees RevenueMarch 2013Total IncomeMonth to Date Year to Date Annual Budget3 Income March Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4100000 Sales Miscellaneous 1,260.70 - 1,260.70 1,859.66 - 1,859.66 0 0 0%4100110 Sales Hard Goods 14,455.91 17,360.00 (2,904.09) 70,089.73 77,999.00 (7,909.27) 108,867.00 38,777.27 64%4100112 Sales-Soft Goods 31,928.50 32,240.00 (311.50) 139,094.59 144,852.00 (5,757.41) 202,181.00 63,086.41 69%5100639 GS-Discounts-Mdse (5,183.72) - (5,183.72) (26,415.67) - (26,415.67) - 26,415.67 0% Total Revenue Golf Shop 42,461.39 49,600.00 (7,138.61) 184,628.31 222,851.00 (38,222.69) 311,048.00 128,279.35 59%COS 5100150 COS-GS-Hard Goods 7,204.44 9,548.00 (2,343.56) 37,175.30 42,899.45 (5,724.15) 59,876.85 22,701.55 62%5100151 COS-GS-Soft Goods 15,468.40 17,732.00 (2,263.60) 61,322.71 79,668.60 (18,345.89) 111,199.55 49,876.84 55%5100152 COS-GS-Purchase Disc (394.20) (1,364.00) 969.80 (1,951.26) (6,128.00) 4,176.74 (8,554.00) (6,602.74) -23%5100220 COS-GS-Freight Merch 428.41 409.00 19.41 3,292.74 1,839.00 1,453.74 2,566.00 (726.74) 128%Cost of Sales - Golf Shop 22,707.05 26,325.00 (3,617.95) 99,839.49 118,279.05 (18,439.56) 165,088.40 65,248.91 60%Gross Profit 19,754.34 23,275.00 (3,520.66) 84,788.82 104,571.95 (19,783.13) 145,959.60 63,030.44 57%COS % 53.5% 53.1% -0.4% 54.1% 53.1% -1.0% 53.1% 50.9% 4%Expense61-PS-SALARIES & BENEFITS6101320 Insurance Group 2,467.71 2,317.00 150.71 19,283.74 19,860.00 (576.26) 26,811.00 7,527.26 72%6101325 Insurance-Workers Comp 619.22 512.00 107.22 4,036.00 4,207.00 (171.00) 5,663.00 1,627.00 71%6101720 Salaries 3,945.44 3,750.00 195.44 34,454.40 33,750.00 704.40 45,000.00 10,545.60 77%6101800 Taxes-Employer Payroll 1,735.54 1,333.00 402.54 10,670.13 10,956.00 (285.87) 14,758.00 4,087.87 72%6101880 Wages-Hourly 8,126.57 9,008.00 (881.43) 69,017.94 71,094.00 (2,076.06) 96,229.00 27,211.06 72%6101882 Wages-Overtime 55.60 - 55.60 1,116.53 - 1,116.53 - 952.88 0%Total -PS-SALARIES & BENEFITS 16,950.08 16,920.00 30.08 138,578.74 139,867.00 (1,288.26) 188,461.00 51,951.67 72%61-PS OTHER EXPENSES6103742 Supplies-Expendable - - - - - - - - 0%6103762 Supplies-Office 579.87 500.00 79.87 3,184.67 4,500.00 (1,315.33) 6,000.00 2,815.33 53%6109090 Contract Services 500.00 500.00 - 4,500.00 4,500.00 - 6,000.00 1,500.00 75%6109220 Freight & Delivery - - - 212.23 75.00 137.23 75.00 (137.23) 283%6109490 Miscellaneous - 50.00 (50.00) 1,157.10 300.00 857.10 450.00 (707.10) 257%6109150 Dues and Subscriptions 1,800.00 - 1,800.00 1,800.00 - 1,800.00 2,300.00 500.00 78%6109500 ProShop-Over/Short (2.31) - (2.31) 1.32 - 1.32 - (1.32) 0%6109722 Seminars/Training - 35.00 (35.00) 2,316.25 4,570.00 (2,253.75) 5,890.00 3,573.75 39%6109810 Travel - Merchandise - 15.00 (15.00) - 45.00 (45.00) 90.00 90.00 0%6109820 Uniforms - 200.00 (200.00) 2,844.31 1,800.00 1,044.31 2,400.00 (444.31) 119%6117840 Telephones 111.96 110.00 1.96 851.18 990.00 (138.82) 1,320.00 468.82 0%Total PS-OTHER EXPENSES 2,989.52 1,410.00 1,579.52 16,867.06 16,780.00 87.06 24,525.00 7,657.94 69%19,939.60 18,330.00 1,609.60 155,445.80 156,647.00 (1,201.20) 212,986.00 59,609.61 72%Net Income(185.26) 4,945.00 (5,130.26) (70,656.98) (52,075.05) (18,581.93) (67,026.40) 3,420.83 -105%SilverRock ResortGolf Shop Income StatementMarch 2013Total Expenses-Golf ShopMonth to Date Year to Date Annual Budget4 March Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense63-CM-SALARIES & BENEFITS6311320 Insurance-Group 9,507.95 8,740.00 767.95 78,608.27 78,660.00 (51.73) 104,880.00 26,271.73 25.0%6311325 Insurance-Workers Comp 2,409.80 2,208.00 201.80 16,024.73 20,579.00 (4,554.27) 27,280.00 11,255.27 41.3%6311720 Salaries 11,401.60 11,001.60 400.00 106,416.00 99,014.40 7,401.60 150,996.00 44,580.00 29.5%6311800 Taxes-Employer Payroll 6,868.55 5,754.00 1,114.55 51,172.40 54,081.00 (2,908.60) 71,645.00 20,472.60 28.6%6311880 Wages-Hourly 44,636.71 44,059.40 577.31 418,882.53 405,452.60 13,429.93 518,654.00 99,771.47 19.2%6311882 Wages-Overtime - - - 11,760.87 13,076.00 (1,315.13) 15,945.00 4,184.13 26.2%Total-CM-SALARIES & BENEFITS74,824.61 71,763.00 3,061.61 682,864.80 670,863.00 12,001.80 889,400.00 206,535.20 23.2%63-CM-SUPPLIES & MATERIALS6313734 Chemicals 508.79 - 508.79 23,298.85 - 23,298.85 31,100.00 7,801.15 25.1%6313744 Fertilizer 14,804.80 7,500.00 7,304.80 108,801.62 125,700.00 (16,898.38) 114,500.00 5,698.38 5.0%6313745 Herbicides - - - 17,281.37 17,000.00 281.37 17,000.00 (281.37) -1.7%6313746 Flowers/Plants 291.60 100.00 191.60 2,649.42 2,950.00 (300.58) 3,050.00 400.58 13.1%6313748 Fuel-Gasoline 3,728.77 3,850.00 (121.23) 39,938.96 44,720.00 (4,781.04) 55,020.00 15,081.04 27.4%6313750 Golf Course Accessories 83.38 100.00 (16.62) 14,557.25 12,700.00 1,857.25 13,000.00 (1,557.25) -12.0%6313756 POA Control - - - 8,297.78 7,000.00 1,297.78 7,000.00 (1,297.78) -18.5%6313758 Miscellaneous Supp 708.69 100.00 608.69 6,723.99 4,050.00 2,673.99 4,350.00 (2,373.99) 0.0%6313762 Supplies-Office - - - 603.96 - 603.96 - (603.96) 0.0%6313774 Sand 1,160.84 100.00 1,060.84 7,961.87 16,160.00 (8,198.13) 16,460.00 8,498.13 51.6%6313776 Seed - 350.00 (350.00) 106,483.19 105,760.00 723.19 106,810.00 326.81 0.3%6313778 Small Tools & Non-Capital Equip - 100.00 (100.00) 4,423.14 4,700.00 (276.86) 5,000.00 576.86 11.5%6313780 Sod - - - 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 & MATERIALS21,286.87 12,200.00 9,086.87 355,223.35 352,990.00 2,233.35 388,840.00 33,616.65 8.6%63-CM-REPAIRS & MAINTENANCE6315095 CM-R&M-Contract Lake Maint 2,830.00 2,600.00 230.00 25,470.00 23,400.00 2,070.00 31,200.00 5,730.00 18.4%6315685 CM-R&M-Bldngs & Othr Structures 288.54 250.00 38.54 1,229.75 4,800.00 (3,570.25) 5,550.00 4,320.25 77.8%6315690 CM-R&M-Equipment 3,149.96 2,000.00 1,149.96 36,411.68 24,000.00 12,411.68 31,000.00 (5,411.68) -17.5%6315692 CM-R&M-Irrigation System 932.55 1,000.00 (67.45) 12,949.20 19,650.00 (6,700.80) 22,650.00 9,700.80 42.8%6315696 CM-R&M-Pumps - 1,000.00 (1,000.00) 5,858.06 9,000.00 (3,141.94) 10,500.00 4,641.94 44.2%6315815 CM-R&M-Trees-Pruning Etc - 2,000.00 (2,000.00) 7,500.00 6,050.00 1,450.00 10,050.00 2,550.00 25.4%Total-CM-REPAIRS & MAINTENANCE 7,201.05 8,850.00 (1,648.95) 89,418.69 86,900.00 2,518.69 110,950.00 21,531.31 19.4%63-CM-UTILTIES6317836 Utilities-Natural Gas/LPG 23.53 15.00 8.53 218.85 135.00 83.85 180.00 (38.85) 0.0%6317840 Telephones 998.84 850.00 148.84 10,563.67 7,650.00 2,913.67 10,200.00 (363.67) -3.6%Total-CM-UTILITIES 1,022.37 865.00 157.37 10,782.52 7,785.00 2,997.52 10,380.00 (402.52) -3.9%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 - - - - 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 7,382.84 4,716.00 2,666.84 6,288.00 (1,094.84) 0.0%6319150 Dues & Subscriptions 210.00 - 210.00 1,220.00 240.00 980.00 540.00 (680.00) -125.9%6319170 Employee Education - 50.00 (50.00) - 1,400.00 (1,400.00) 1,550.00 1,550.00 100.0%6319197 Equipment Rental - 200.00 (200.00) 579.13 3,700.00 (3,120.87) 4,200.00 3,620.87 86.2%6319206 Licenses & Permits 85.00 1,000.00 (915.00) 85.00 1,280.00 (1,195.00) 1,430.00 1,345.00 94.1%6319490 Miscellaneous - 100.00 (100.00) 1,968.09 900.00 1,068.09 1,200.00 (768.09) -64.0%6319718 Safety Equipment & Training 532.41 200.00 332.41 5,392.98 3,550.00 1,842.98 3,850.00 (1,542.98) -40.1%6319822 Uniforms 777.97 920.00 (142.03) 11,188.93 8,280.00 2,908.93 11,040.00 (148.93) -1.3%Total-CM-OTHER EXPENSES 2,732.96 3,494.00 (761.04) 32,316.97 30,566.00 1,750.97 40,098.00 7,781.03 19.4%Month to Date Year to DateSilverRock ResortCourse Maintenance Expense StatementMarch 2013Annual Budget5 March 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) 17,004.08 23,832.00 (6,827.92) 31,776.00 14,771.92 46.5%6321325 Insurance-Workers Comp 442.30 516.00 (73.70) 4,380.60 4,787.00 (406.40) 6,361.00 1,980.40 31.1%6321800 Taxes-Employer Payroll 1,125.72 1,346.00 (220.28) 11,542.96 12,669.00 (1,126.04) 16,808.00 5,265.04 31.3%6321880 Wages-Hourly 12,837.63 12,880.00 (42.37) 116,020.29 115,920.00 100.29 154,560.00 38,539.71 24.9%6321882 Wages-Overtime - - - 1,847.83 5,313.00 (3,465.17) 6,279.00 4,431.17 70.6%Total-CM-LM-SALARIES & BENEFITS16,248.75 17,390.00 (1,141.25) 150,795.76 162,521.00 (11,725.24) 215,784.00 64,988.24 30.1%632-CM-LM-SUPPLIES & MATERIALS6323778 Small Tools - 75.00 (75.00) - 800.00 (800.00) 1,025.00 1,025.00 100.0%6323788 Uniforms 158.20 290.00 (131.80) 2,310.03 2,610.00 (299.97) 3,480.00 1,169.97 33.6%Total-CM-LM-SUPPLIES & MATERIALS158.20 365.00 (206.80) 2,310.03 3,410.00 (1,099.97) 4,505.00 2,194.97 48.7%632-CM-LM-REPAIRS & MAINTENANCE6325687 CM-LM-R&M-Drip Irrigation - 250.00 (250.00) 220.40 3,250.00 (3,029.60) 4,250.00 4,029.60 94.8%Total-CM-LM-REPAIRS & MAINTENANCE - 250.00 (250.00) 220.40 3,250.00 (3,029.60) 4,250.00 4,029.60 94.8%123,474.81 115,177.00 8,297.81 1,323,932.52 1,318,285.00 5,647.52 1,664,207.00 340,274.48 20.4% March Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget633-CM-WATER & ENERGY6337834 Utilities-Electricity-Pumping 11,599.00 14,005.00 (2,406.00) 114,398.94 116,727.00 (2,328.06) 178,691.00 64,292.06 36.0%6337842 Utilities-Water2,625.78 1,550.00 1,075.78 40,141.50 31,743.00 8,398.50 43,058.00 2,916.50 6.8%14,224.78 15,555.00 (1,330.22) 154,540.44 148,470.00 6,070.44 221,749.00 67,208.56 30.3%Silverrock ResortCourse Maintenance Water & EnergyMarch 2013Total-CM-WATER & ENERGYMonth to Date Year to Date Annual BudgetTotal-COURSE MAINTENANCESilverrock ResortCourse Maintenance Expense StatementMarch 2013Annual BudgetMonth to Date Year to Date6 March Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense641-CBR-SALARIES & BENEFITS6411320 Insurance-Group 737.24 662.00 75.24 3,695.48 5,958.00 (2,262.52) 7,944.00 4,248.52 53.5%6411325 Insurance-Workers Comp 1,061.52 550.00 511.52 4,239.71 3,852.00 387.71 5,135.00 895.29 17.4%6411800 Taxes-Employer Payroll 2,044.68 1,707.00 337.68 12,472.49 11,957.00 515.49 15,942.00 3,469.51 21.8%6411880 Wages-Hourly 13,070.43 13,710.00 (639.57) 95,466.60 96,042.00 (575.40) 128,052.00 32,585.40 25.4%6411882 Wages-Overtime 506.63 - 506.63 1,724.10 - 1,724.10 - (1,724.10) 0.0%Total-CBR-SALARIES & BENEFITS17,420.50 16,629.00 791.50 117,598.38 117,809.00 (210.62) 157,073.00 39,474.62 25.1%641-CBR-SUPPLIES & MATERIALS6413732 Supplies-Carts 2,817.41 50.00 2,767.41 3,489.24 2,200.00 1,289.24 2,350.00 (1,139.24) -48.5%6413742 Supplies-Expendable 1,746.37 150.00 1,596.37 9,756.08 5,600.00 4,156.08 6,750.00 (3,006.08) -44.5%6413748 Supplies-Fuel for Shuttle 372.57 450.00 (77.43) 1,136.21 2,250.00 (1,113.79) 3,000.00 1,863.79 62.1%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) - 375.00 (375.00) 525.00 525.00 100.0%6413768 Supplies-Printing and Stationary - 70.00 (70.00) 59.27 210.00 (150.73) 420.00 360.73 85.9%6413786 Supplies-Towels 400.00 72.00 328.00 2,717.41 789.00 1,928.41 1,005.00 (1,712.41) -170.4%6413796 Supplies-Bottled Water29.99 50.00 (20.01) 9,911.99 12,400.00 (2,488.01) 24,500.00 14,588.01 59.5%Total-CBR-SUPPLIES & MATERIALS5,366.34 892.00 4,474.34 36,247.95 32,824.00 3,423.95 47,550.00 11,302.05 23.8%641-CBR-REPAIRS & MAINTENANCE6415690 CBR-R&M-Equipment 440.10 300.00 140.10 2,630.44 2,700.00 (69.56) 3,600.00 969.56 26.9%6415695 CBR-R&M-Cart Maintenance & Repair 719.32 750.00 (30.68) 4,949.77 7,500.00 (2,550.23) 9,750.00 4,800.23 49.2%Total-CBR-REPAIRS & MAINTENANCE 1,159.42 1,050.00 109.42 7,580.21 10,200.00 (2,619.79) 13,350.00 5,769.79 43.2%641-CBR-OTHER EXPENSES6419094 Contract Services-Laundry/Linen 1,241.13 800.00 441.13 7,773.03 7,200.00 573.03 9,600.00 1,826.97 19.0%6419220 Freight/Delivery - - - - 450.00 (450.00) 450.00 450.00 100.0%6419490 Miscellaneous 28.02 125.00 (96.98) 283.80 775.00 (491.20) 1,150.00 866.20 75.3%6419820 Uniforms - 500.00 (500.00) 2,317.39 3,500.00 (1,182.61) 5,200.00 2,882.61 55.4%Total-CBR-OTHER EXPENSES 1,269.15 1,425.00 (155.85) 10,374.22 11,925.00 (1,550.78) 16,400.00 6,025.78 36.7%TOTAL-CARTS,BAGROOM & RANGE 25,215.41 19,996.00 5,219.41 171,800.76 172,758.00 (957.24) 234,373.00 62,572.24 26.7%643-CS-SALARIES & BENEFITS6431320 Insurance-Group - - - - - - - - 0.0%6431325 Insurance-Workers Comp 442.30 247.00 195.30 2,532.78 1,534.00 998.78 1,903.00 (629.78) -33.1%6431800 Taxes-Employer Payroll 770.94 644.00 126.94 4,636.09 3,992.00 644.09 4,960.00 323.91 6.5%6431880 Wages-Hourly 5,266.00 6,160.00 (894.00) 35,632.00 38,220.00 (2,588.00) 47,460.00 11,828.00 24.9%6431882 Wages-Overtime - - - - - - - - 0.0%Total-CS-SALARIES & BENEFITS6,479.24 7,051.00 (571.76) 42,800.87 43,746.00 (945.13) 54,323.00 11,522.13 21.2%643-CS-OTHER EXPENSES6433742 Supplies Expendable 85.55 100.00 (14.45) 777.31 800.00 (22.69) 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 114.53 50.00 64.53 114.53 450.00 (335.47) 600.00 485.47 80.9%6439820 Uniforms - 75.00 (75.00) 1,393.46 1,575.00 (181.54) 2,125.00 731.54 34.4%Total-CS-OTHER EXPENSES 200.08 225.00 (24.92) 3,236.59 3,025.00 211.59 3,975.00 738.41 18.6%Total-COURSE SERVICES 6,679.32 7,276.00 (596.68) 46,037.46 46,771.00 (733.54) 58,298.00 12,260.54 21.0%31,894.73 27,272.00 4,622.73 217,838.22 219,529.00 (1,690.78) 292,671.00 74,094.37 25.3%TOTAL OUTSIDE SERVICESMonth to Date Year to DateSilverRock ResortOutside Services Expense StatementMarch 2013Annual Budget7 March Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense65-CH-SUPPLIES & MATERIALS6503742 Supplies-Expendable- 400.00 (400.00) 1,264.00 3,600.00 (2,336.00) 4,800.00 3,536.00 73.7%Total-CH-SUPPLIES & MATERIALS - 400.00 (400.00) 1,264.00 3,600.00 (2,336.00) 4,800.00 3,536.00 73.7%65-CH-UTILITIES6507836 Utilities-Natural Gas454.44 300.00 154.44 2,378.46 2,700.00 (321.54) 3,600.00 1,221.54 33.9%6507840 Utilities-Telephone1,251.89 1,150.00 101.89 11,059.63 10,350.00 709.63 13,800.00 2,740.37 19.9%6507842 Utilities-Water399.31 321.00 78.31 3,196.89 2,889.00 307.89 3,852.00 655.11 17.0%6507844 Utilities-Cable336.91 340.00 (3.09) 3,032.19 3,060.00 (27.81) 4,080.00 1,047.81 25.7%Total-CH-UTILITIES 2,442.55 2,111.00 331.55 19,667.17 18,999.00 668.17 25,332.00 5,664.83 22.4%65-CH-OTHER EXPENSES6509091 Contract Services-Cleaning1,750.00 1,825.00 (75.00) 16,714.00 17,025.00 (311.00) 22,500.00 5,786.00 25.7%6509099 Contract Services-Security5,090.04 4,900.00 190.04 48,140.32 45,700.00 2,440.32 60,400.00 12,259.68 20.3%6509215 Flowers & Decorations- 500.00 (500.00) 98.89 2,000.00 (1,901.11) 2,400.00 2,301.11 95.9%6509490 Miscellaneous- 200.00 (200.00) 206.21 1,800.00 (1,593.79) 2,400.00 2,193.79 91.4%6509718 Safety Equipment & Training- 100.00 (100.00) 597.31 900.00 (302.69) 1,200.00 602.69 50.2%Total-CH-OTHER EXPENSES 6,840.04 7,525.00 (684.96) 65,756.73 67,425.00 (1,668.27) 88,900.00 23,143.27 26.0%65-CH-REPAIRS & MAINTENANCE6515685 CH-R&M-Building Structures304.58 300.00 4.58 2,916.22 2,700.00 216.22 3,600.00 683.78 19.0%6515686 CH-R&M-Restaurant Repairs873.34 400.00 473.34 4,491.34 3,600.00 891.34 4,800.00 308.66 6.4%6515690 CH-R&M-Equipment Repair- 400.00 (400.00) 1,873.97 3,600.00 (1,726.03) 4,800.00 2,926.03 61.0%Total-CH-REPAIRS & MAINTENANCE 1,177.92 1,100.00 77.92 9,281.53 9,900.00 (618.47) 13,200.00 3,918.47 29.7%10,460.51 11,136.00 (675.49) 95,969.43 99,924.00 (3,954.57) 132,232.00 7,836.94 5.9%Total CLUBHOUSEMonth to Date Year to DateSilverRock ResortClubhouse Expense StatementMarch 2013Annual Budget8 March Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense66-MKT-SALARIES & BENEFITS6601320 Insurance-Group 368.62 331.00 37.62 2,957.08 2,979.00 (21.92) 3,972.00 1,014.92 25.6%6601325 Insurance-Workers Comp 88.46 101.00 (12.54) 1,306.48 909.00 397.48 1,207.00 (99.48) -8.2%6601720 Salaries 2,083.57 2,508.00 (424.43) 21,286.16 22,572.00 (1,285.84) 30,096.00 8,809.84 29.3%6601800 Taxes-Employer Payroll 237.39 262.00 (24.61) 3,059.86 2,358.00 701.86 3,145.00 85.14 2.7%Total-MKT-SALARIES & BENEFITS 2,778.04 3,202.00 (423.96) 28,609.58 28,818.00 (208.42) 38,420.00 9,810.42 25.5%66-MKT-SUPPLIES & MATERIALS6603762 Supplies-Office 210.58 100.00 110.58 210.58 900.00 (689.42) 1,200.00 989.42 82.5%6603768 Supplies-Printing & Stationery 303.32 125.00 178.32 5,218.64 4,050.00 1,168.64 4,425.00 (793.64) -17.9%513.90 225.00 288.90 5,429.22 4,950.00 479.22 5,625.00 195.78 3.5%66-MKT-UTILITIES6607840 Utilities-Telephone 94.97 100.00 (5.03) 939.93 900.00 39.93 1,200.00 260.07 21.7%Total-MKT-UTILITIES 94.97 100.00 (5.03) 939.93 900.00 39.93 1,200.00 260.07 21.7%66-MKT-OTHER EXPENSES6609010 Advertising 23,199.87 19,680.00 3,519.87 123,271.30 147,427.00 (24,155.70) 179,231.00 55,959.70 31.2%6609040 Business Meals - - - - - - 300.00 300.00 100.0%6609080 Collateral Material 582.45 500.00 82.45 2,742.37 7,000.00 (4,257.63) 9,000.00 6,257.63 69.5%6609102 Contract Services-Web Page 99.00 300.00 (201.00) 891.00 2,700.00 (1,809.00) 3,600.00 2,709.00 75.3%6609490 Miscellaneous - 50.00 (50.00) - 250.00 (250.00) 350.00 350.00 100.0%6609620 Postage - 50.00 (50.00) 19.82 450.00 (430.18) 600.00 580.18 96.7%6609630 Promotion - 25.00 (25.00) 104.43 225.00 (120.57) 3,000.00 2,895.57 0.0%6609633 Promotion-Community - 125.00 (125.00) 766.75 2,575.00 (1,808.25) 2,250.00 1,483.25 65.9%6609634 Promotion-Media/Vendor - - - - 3,000.00 (3,000.00) 700.00 - 0.0%6609150 Dues and Subscriptions - 300.00 (300.00) 343.32 735.00 (391.68) 735.00 391.68 53.3%6609820 Uniforms - 50.00 (50.00) - 550.00 (550.00) 600.00 600.00 100.0%Total-MKT-OTHER EXPENSES 23,881.32 21,080.00 2,801.32 128,138.99 164,912.00 (36,773.01) 200,366.00 71,527.01 35.7%27,268.23 24,607.00 2,661.23 163,117.72 199,580.00 (36,462.28) 245,611.00 81,793.28 33.3%Total-MARKETINGMonth to Date Year to DateSilverRock ResortMarketing Expense StatementMarch 2013Annual Budget9 March Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense67-G&A-SALARIES & BENEFITS6701320 Insurance-Group1,875.30 1,458.00 417.30 14,346.33 13,122.00 1,224.33 17,496.00 3,149.67 18.0%6701325 Insurance-Workers Comp265.38 688.00 (422.62) 3,883.79 6,192.00 (2,308.21) 8,254.00 4,370.21 52.9%6701720 Salaries 12,816.26 15,003.00 (2,186.74) 131,162.60 135,027.00 (3,864.40) 178,000.00 46,837.40 26.3%6701800 Taxes-Employer Payroll 1,122.15 1,792.00 (669.85) 12,482.81 16,128.00 (3,645.19) 21,510.00 9,027.19 42.0%6701880 Wages-Hourly3,423.20 2,150.00 1,273.20 18,863.60 19,350.00 (486.40) 27,835.00 8,971.40 32.2%6701882 Wages-Overtime - - - 22.69 - 22.69 - (22.69) 0.0%Total-G&A-SALARIES & BENEFITS 19,502.29 21,091.00 (1,588.71) 180,761.82 189,819.00 (9,057.18) 253,095.00 72,333.18 28.6%67-G&A-SUPPLIES & MATERIALS6703740 Supplies-Computer467.50 400.00 67.50 2,375.59 3,600.00 (1,224.41) 5,200.00 2,824.41 54.3%6703762 Supplies-Office 50.12 100.00 (49.88) 1,296.20 900.00 396.20 1,200.00 (96.20) -8.0%6703768 Supplies-Printing & Stationery154.46 400.00 (245.54) 865.90 2,100.00 (1,234.10) 3,300.00 2,434.10 73.8%Total-G&A-SUPPLIES & MATERIALS 672.08 900.00 (227.92) 4,537.69 6,600.00 (2,062.31) 9,700.00 5,162.31 53.2%67-G&A-REPAIRS & MAINTENANCE6705690 Repairs & Maintenance-Equipment- 100.00 (100.00) - 800.00 (800.00) 1,100.00 1,100.00 100.0%Total-G&A-REPAIRS & MAINTENANCE - 100.00 (100.00) - 800.00 (800.00) 1,100.00 1,100.00 100.0%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) 456.00 1,100.00 (644.00) 1,700.00 1,244.00 73.2%6709180 Employee Recruiting/Relocation30.00 200.00 (170.00) 1,792.60 1,400.00 392.60 1,400.00 (392.60) -28.0%6709197 Equipment Rental823.32 480.00 343.32 6,204.72 4,320.00 1,884.72 5,760.00 (444.72) -7.7%6709202 Fees-Bank116.12 90.00 26.12 1,048.96 810.00 238.96 1,080.00 31.04 2.9%6709208 Fees-Payroll Processing1,107.67 1,100.00 7.67 11,562.90 9,900.00 1,662.90 13,200.00 1,637.10 12.4%6709220 Freight/Delivery- 50.00 (50.00) - 450.00 (450.00) 600.00 600.00 100.0%6709490 Miscellaneous - 100.00 (100.00) 147.63 900.00 (752.37) 1,200.00 1,052.37 87.7%6709491 Loss/Damage- - - 736.60 - 736.60 - 0.0%6709620 Postage/Mail Services 130.49 75.00 55.49 1,228.16 675.00 553.16 900.00 (328.16) -36.5%6709625 Professional Fees1,602.21 850.00 752.21 9,656.89 7,650.00 2,006.89 10,200.00 543.11 5.3%6709636 Promotion/Entertainment- 100.00 (100.00) 2,526.78 2,800.00 (273.22) 3,100.00 573.22 18.5%6709722 Seminars & Training250.00 200.00 50.00 836.08 1,800.00 (963.92) 2,400.00 1,563.92 65.2%6709810 Travel - - - - 200.00 (200.00) 1,100.00 1,100.00 100.0%6709820 Uniforms - 75.00 (75.00) 870.50 825.00 45.50 1,050.00 179.50 17.1%Total-G&A-OTHER EXPENSES 4,459.81 3,770.00 689.81 40,667.82 36,430.00 4,237.82 48,490.00 8,558.78 17.7%24,634.18 25,861.00 (1,226.82) 225,967.33 233,649.00 (7,681.67) 312,385.00 87,154.27 27.9%Total-GENERAL & ADMINISTRATIVEMonth to Date Year to DateSilverRock ResortGeneral & Administrative Expense StatementMarch 2013Annual Budget10 Income March Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4009300Resident Card Issue25,425.00 - 25,425.00 118,110.00 - 118,110.00 - - 0%- - 0% Total Revenue Resident Cards25,425.00 - 25,425.00 118,110.00 - 118,110.00 - - 0%Expense60-RC-SALARIES & BENEFITS6001800 Taxes-Employer Payroll 174.40 - 174.40 972.00 - 972.00 - - 0%6001880 Wages-Hourly1,041.48 - 1,041.48 5,563.39 - 5,563.39 - - 0%6001882 Wages-Overtime - - - - - - - - 0%Total -RC-SALARIES & BENEFITS 1,215.88 - 1,215.88 6,535.39 - 6,535.39 - - 0%60-RC- OTHER EXPENSES6003762 Supplies-Office - - - - - - - - 0%6009490 Miscellaneous 660.52 - 660.52 5,520.80 - 5,520.80 - - 0%6003740 Supplies-Computer- - - - - - - - 0%6009625 Professional Fees- - - 879.89 - 879.89 - - 0%Total RC-OTHER EXPENSES 660.52 - 660.52 6,400.69 - 6,400.69 - - 0%1,876.40 - 1,876.40 12,936.08 - 12,936.08 - - 0%Net Income23,548.60 - 23,548.60 105,173.92 - 105,173.92 - - 0%SilverRock ResortResident Card Income StatementMarch 2013Month to Date Year to Date Annual BudgetTotal-RESIDENT CARDS11 March Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense68-LEASES6800192 Equipment Leases-Carts 11,998.99 12,075.00 (76.01) 105,237.24 108,675.00 (3,437.76) 144,900.00 39,662.76 27.4%6800194 Equipment Leases-Trailer 512.61 600.00 (87.39) 4,300.46 5,400.00 (1,099.54) 7,200.00 2,899.54 40.3%6800196 Equipment Leases-GPS 4,940.00 5,755.00 (815.00) 44,460.00 51,795.00 (7,335.00) 69,060.00 24,600.00 35.6%6800197 Equipment Leases-Others 118.10 460.00 (341.90) 5,182.00 4,140.00 1,042.00 5,520.00 338.00 0.0%17,569.70 18,890.00 (1,320.30) 159,179.70 170,010.00 (10,830.30) 226,680.00 67,500.30 29.8%69-MISC OTHER EXPENSES6900096 Contract Srvcs-Management Fee (14,558.04) (11,910.00) (2,648.04) 47,489.20 71,662.00 (24,172.80) 90,000.00 42,510.80 47.2%6900210 FF&E Reserve 11,377.14 11,453.00 (75.86) 46,206.55 48,476.00 (2,269.45) 67,015.00 20,808.45 31.1%6900800 Personal Property Taxes 395.20 - 395.20 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 23,809.65 19,800.00 4,009.65 26,400.00 2,590.35 9.8%(19.70) 1,743.00 (1,762.70) 130,598.60 154,738.00 (24,139.40) 198,215.00 67,616.40 34.1%Annual BudgetMonth to Date Year to DateTotal-LEASESTotal-MISC OTHER EXPENSESSilverrock ResortOperating Leases & Miscellaneous Other Expense StatementMarch 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 1623Charity/Gift Certificate81422Rain/Wind Checks10 1111Club Staff132 5662LQ HS Golf64 101 167248 210 285 0 0 013 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report-2012-2013March 2013 Date Time Description CategoryPlayers14