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11 May 2013 SilverRock Resort - Monthly Financial Statement
Monthly Financial Statements July 2012 – May 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 May Final Budget Variance Percentages Unfavorable (-) Favorable (+) Final Budget Variance Annual Budget Unemcumb. % Bdgt Income400000 Golf Green Fee Revenue278,067.95 309,291.00 (31,223.05) -10.1% 3,009,088.41 3,196,486.00 (187,397.59) 3,350,773.00 341,684.59 90%401000 Miscellaneous Golf Revenue 28,627.00 15,025.00 13,602.00 90.5% 329,662.90 154,828.00 174,834.90 159,973.00 (169,689.90) 206%410000 Revenue-Golf Shop 27,636.83 31,500.00 (3,863.17) -12.3% 240,342.65 296,351.00 (56,008.35) 311,048.00 70,705.35 77%420000 Revenue-F&B Concession500.00 500.00 - 0.0% 11,500.00 11,500.00 - 12,000.00 500.00 96%890000 Interest Income0.68 - 0.68 0.0% 7.47 - 7.47 - (7.47) 0%Total Income334,832.46 356,316.00 (21,483.54) -6.0% 3,590,601.43 3,659,165.00 (68,563.57) 3,833,794.00 243,192.57 94%Cost of Goods Sold510000 COS-Golf Shop 17,265.17 16,719.00 546.17 -3.3% 132,333.30 157,290.05 24,956.75 165,088.40 32,755.10 80%Total COS17,265.17 16,719.00 546.17 -3.3% 132,333.30 157,290.05 24,956.75 165,088.40 32,755.10 80%Gross Profit317,567.29 339,597.00 (22,029.71) -6.5% 3,458,268.13 3,501,874.95 (43,606.82) 3,668,705.60 210,437.47 94%Expenses610000 Golf Pro Shop 22,617.06 21,324.00 (1,293.06) -6.1% 196,367.46 195,615.00 (752.46) 212,986.00 16,618.54 92%630000 Course Maintenance118,990.88 113,427.00 (5,563.88) -4.9% 1,569,343.38 1,548,389.00 (20,954.38) 1,664,207.00 94,863.62 94%633000 Maintenance Water & Energy20,649.57 24,272.00 3,622.43 14.9% 194,439.31 193,709.00 (730.31) 221,749.00 27,309.69 88%640000 Outside Services23,066.65 18,600.00 (4,466.65) -24.0% 266,894.80 264,081.00 (2,813.80) 292,671.00 25,776.20 91%650000 Clubhouse 9,084.68 10,636.00 1,551.32 14.6% 116,324.83 121,196.00 4,871.17 132,232.00 15,907.17 88%660000 Marketing 24,339.36 13,089.00 (11,250.36) -86.0% 207,899.47 235,526.00 27,626.53 245,611.00 37,711.53 85%670000 General & Administrative23,533.94 26,611.00 3,077.06 11.6% 287,399.11 286,121.00 (1,278.11) 312,385.00 24,985.89 92%680000 Leases 16,990.71 18,890.00 1,899.29 10.1% 194,125.30 207,790.00 13,664.70 226,680.00 32,554.70 86%690000 Miscellaneous Other Expense4,232.18 12,965.00 8,732.82 67.4% 143,260.56 174,111.00 30,850.44 198,215.00 54,954.44 72%Total Expenses263,505.03 259,814.00 (3,691.03) -1.4% 3,176,054.22 3,226,538.00 50,483.78 3,506,736.00 330,681.78 91%54,062.26 79,783.00 (25,720.74) -32.2%282,213.91 275,336.95 6,876.96 161,969.60 (120,244.31) 174%Rounds of Golf PlayedPaid Rounds Played 4,833 5,250 (417) -7.9% 44,160 44,200 (40) 45,625 1,465 97%Ave $ Per Paid Round Green Fee57.54 58.91 (1.38) -2.3% 68.14 72.32 (4.18) 73.44 5.30 93%Ave $ Per Paid Round Merchandise5.72 6.00 (0.28) -4.7% 5.44 6.70 (1.26) 6.82 1.37 80%Ave $ Per Paid Miscellaneous 5.92 2.86 3.06 107.0% 7.47 3.50 3.96 3.51 (3.96) 0%SilverRock ResortSummary Operating Income StatementNet IncomeMonth to Date Year to DateMay 20131 ACTUALBUDGETVARIANCERevenue Fees278,067.95$ 309,291.00$ (31,223.05)$ Unfavorable: Due to reduced rounds played for May. This reduction seems to be the norm throughout the valley, whetherit was the heat or tourism down for the month of May.Misc Golf Revenue27,146.08$ 15,025.00$ 12,121.08$ Favorable: As a result of SilverRock Operations taking over the distribution of the La Quinta Residents Cards, revenuesof $12,600.00 for the month of May are now being recognized on the SilverRock Financials. This revenue was not part ofthe original 2012-2013 Annual Plan.Pro Shop Merchandise Sales27,636.83$ 31,500.00$ (3,863.17)$ Unfavorable: Merchandise sales were down by nearly 33% due to conservative consumer spending and reduced play from 3 weeks of concerts in the Coachella Valley for the month of April. Pro Shop Cost of Sales17,265.17$ 16,719.00$ 4,376.54$ 62.47% 53.08% 9.40%Unfavorable: Due to end of season discounts on apparel and hardgoods.Water & Energy20,649.57$ 24,272.00$ (3,622.43)$ Favorable: Electricity is down by 30% due to reduced hours of running of the water feature. Water consumption up dueto warmer conditions which requires additional watering to activate the Bermuda turf.Outside Services23,066.65$ 18,600.00$ 4,466.65$ Unfavorable: Due to additional expense of supplies expendable which was a duplicate order of tees and pencils for carts.Additionally, carts are out of the warranty window which increases our maintenance costs to upkeep.Clubhouse9,084.68$ 10,636.00$ (1,551.32)$ Favorable: Due to no maintenance required for restaurant or equipment repairs as well as supplies expendable.Marketing24,339.36$ 13,089.00$ 11,250.36$ Unfavorable: Due to timing of advertising invoices as well as the final payment for the commercial shoot with Point7 West.General and Administrative22,251.02$ 26,611.00$ (4,359.98)$ Favorable: Due to reduced labor cost, computer supplies, stationary and print, and travel.Miscellaneous4,232.18$ 12,965.00$ (8,732.82)$ Favorable: Due to an increase in profits for Food and Beverage for the month of May which reduced management fee forLandmark Golf Management as stated in the Financials Variance ExplanationsMay 20133-20-132 Income May Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4000000 Revenue-Fees 278,067.95 309,291.00 (31,223.05) 3,009,088.41 3,196,486.00 (187,397.59) 3,350,773.00341,684.5990%4010000 Rider Fee 1,025.00 525.00 500.00 8,595.00 7,398.00 1,197.00 7,643.00-952.00112%4040000 Club Rental 2,514.00 2,625.00 (111.00) 22,750.00 22,100.00 650.00 23,325.00575.0098%4050000 Driving Range 6,299.00 7,875.00 (1,576.00) 93,982.00 81,730.00 12,252.00 85,405.00-8,577.00110%4060000 Handicap Fees 198.00 - 198.00 2,466.00 - 2,466.00 0.000.000%4080000 GPS Advertising - - - - 2,600.00 (2,600.00) 2,600.00 2,600.000%4090000 Ball Retriever/Subcontract - - - 5,164.80 4,000.00 1,164.80 4,000.00 -1,164.80129%4091000 Golf Professional Rental Fee 5,706.25 4,000.00 1,706.25 46,293.00 37,000.00 9,293.00 37,000.00 -9,293.00 125%4092000 Golf Lessons 284.75 - 284.75 1,252.10 - 1,252.10 - (1,252.10) 0%4093000 Resident Card Issue 12,600.00 - 12,600.00 149,160.00 - 149,160.00 - - 0% Total Revenue Fees 306,694.95 324,316.00 (17,621.05) 3,338,751.31 3,351,314.00 (12,562.69) 3,510,746.00 323,620.69 91%306,694.95 324,316.00 (17,621.05) 3,338,751.31 3,351,314.00 (12,562.69) 3,510,746.00 323,620.69 91%Total IncomeMonth to Date Year to Date Annual BudgetSilverRock ResortStatement of Fees RevenueMay 20133 Income May Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4100000 Sales Miscellaneous 339.00 - 339.00 2,701.66 - 2,701.66 0 0 0%4100110 Sales Hard Goods 12,489.67 11,025.00 1,464.67 93,899.99 103,724.00 (9,824.01) 108,867.00 14,967.01 86%4100112 Sales-Soft Goods 18,759.00 20,475.00 (1,716.00) 178,807.59 192,627.00 (13,819.41) 202,181.00 23,373.41 88%5100639 GS-Discounts-Mdse (3,950.84) - (3,950.84) (35,066.59) - (35,066.59) - 35,066.59 0% Total Revenue Golf Shop 27,636.83 31,500.00 (3,863.17) 240,342.65 296,351.00 (56,008.35) 311,048.00 73,407.01 76%COS 5100150 COS-GS-Hard Goods 7,819.85 6,063.75 1,756.10 51,078.22 57,048.20 (5,969.98) 59,876.85 8,798.63 85%5100151 COS-GS-Soft Goods 9,463.07 11,261.25 (1,798.18) 79,549.02 105,944.85 (26,395.83) 111,199.55 31,650.53 72%5100152 COS-GS-Purchase Disc (159.30) (866.00) 706.70 (2,220.82) (8,149.00) 5,928.18 (8,554.00) (6,333.18) -26%5100220 COS-GS-Freight Merch 141.55 260.00 (118.45) 3,926.88 2,446.00 1,480.88 2,566.00 (1,360.88) 153%Cost of Sales - Golf Shop 17,265.17 16,719.00 546.17 132,333.30 157,290.05 (24,956.75) 165,088.40 32,755.10 80%Gross Profit 10,371.66 14,781.00 (4,409.34) 108,009.35 139,060.95 (31,051.60) 145,959.60 40,651.91 72%COS % 62.5% 53.1% -9.4% 55.1% 53.1% -2.0% 53.1% 44.6% 16%Expense61-PS-SALARIES & BENEFITS6101320 Insurance Group 2,467.71 2,317.00 150.71 24,380.18 24,494.00 (113.82) 26,811.00 2,430.82 91%6101325 Insurance-Workers Comp 619.22 493.00 126.22 5,274.44 5,188.00 86.44 5,663.00 388.56 93%6101720 Salaries 3,570.44 3,750.00 (179.56) 42,570.28 41,250.00 1,320.28 45,000.00 2,429.72 95%6101800 Taxes-Employer Payroll 2,280.02 1,286.00 994.02 14,929.99 13,513.00 1,416.99 14,758.00 (171.99) 101%6101880 Wages-Hourly 12,425.51 8,553.00 3,872.51 89,127.22 88,055.00 1,072.22 96,229.00 7,101.78 93%6101882 Wages-Overtime 32.63 - 32.63 1,185.92 - 1,185.92 - 952.88 0%Total -PS-SALARIES & BENEFITS 21,395.53 16,399.00 4,996.53 177,468.03 172,500.00 4,968.03 188,461.00 13,131.77 93%61-PS OTHER EXPENSES6103742 Supplies-Expendable - - - - - - - - 0%6103762 Supplies-Office 27.58 500.00 (472.42) 3,381.23 5,500.00 (2,118.77) 6,000.00 2,618.77 56%6109090 Contract Services 500.00 500.00 - 5,500.00 5,500.00 - 6,000.00 500.00 92%6109220 Freight & Delivery - - - 212.23 75.00 137.23 75.00 (137.23) 283%6109490 Miscellaneous - 50.00 (50.00) 1,166.88 400.00 766.88 450.00 (716.88) 259%6109150 Dues and Subscriptions - 2,300.00 (2,300.00) 1,800.00 2,300.00 (500.00) 2,300.00 500.00 78%6109500 ProShop-Over/Short (1.62) - (1.62) (44.95) - (44.95) - 44.95 0%6109722 Seminars/Training - 1,250.00 (1,250.00) 2,316.25 5,855.00 (3,538.75) 5,890.00 3,573.75 39%6109810 Travel - Merchandise - 15.00 (15.00) - 75.00 (75.00) 90.00 90.00 0%6109820 Uniforms 579.42 200.00 379.42 3,486.44 2,200.00 1,286.44 2,400.00 (1,086.44) 145%6117840 Telephones 116.15 110.00 6.15 1,081.35 1,210.00 (128.65) 1,320.00 238.65 0%Total PS-OTHER EXPENSES 1,221.53 4,925.00 (3,703.47) 18,899.43 23,115.00 (4,215.57) 24,525.00 5,625.57 77%22,617.06 21,324.00 1,293.06 196,367.46 195,615.00 752.46 212,986.00 18,757.34 91%Net Income(12,245.40) (6,543.00) (5,702.40) (88,358.11) (56,554.05) (31,804.06) (67,026.40) 21,894.57 -133%Total Expenses-Golf ShopMonth to Date Year to Date Annual BudgetSilverRock ResortGolf Shop Income StatementMay 20134 May Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense63-CM-SALARIES & BENEFITS6311320 Insurance-Group 6,979.34 8,740.00 (1,760.66) 95,018.28 96,140.00 (1,121.72) 104,880.00 9,861.72 9.4%6311325 Insurance-Workers Comp 2,409.80 2,208.00 201.80 21,021.25 24,995.00 (3,973.75) 27,280.00 6,258.75 22.9%6311720 Salaries 10,620.80 11,001.60 (380.80) 128,044.40 121,017.60 7,026.80 150,996.00 22,951.60 15.2%6311800 Taxes-Employer Payroll 4,821.16 5,754.00 (932.84) 63,003.62 65,589.00 (2,585.38) 71,645.00 8,641.38 12.1%6311880 Wages-Hourly 47,566.74 44,059.40 3,507.34 511,207.73 493,571.40 17,636.33 518,654.00 7,446.27 1.4%6311882 Wages-Overtime 6.66 - 6.66 11,799.38 13,076.00 (1,276.62) 15,945.00 4,145.62 26.0%Total-CM-SALARIES & BENEFITS72,404.50 71,763.00 641.50 830,094.66 814,389.00 15,705.66 889,400.00 59,305.34 6.7%63-CM-SUPPLIES & MATERIALS6313734 Chemicals 3,389.43 - 3,389.43 30,757.73 - 30,757.73 31,100.00 342.27 1.1%6313744 Fertilizer 7,022.55 5,900.00 1,122.55 122,829.81 138,600.00 (15,770.19) 114,500.00 (8,329.81) -7.3%6313745 Herbicides - - - 17,281.37 17,000.00 281.37 17,000.00 (281.37) -1.7%6313746 Flowers/Plants 194.94 - 194.94 2,844.36 3,050.00 (205.64) 3,050.00 205.64 6.7%6313748 Fuel-Gasoline 4,722.47 3,100.00 1,622.47 49,746.58 51,920.00 (2,173.42) 55,020.00 5,273.42 9.6%6313750 Golf Course Accessories 124.20 100.00 24.20 14,761.62 12,900.00 1,861.62 13,000.00 (1,761.62) -13.6%6313756 POA Control 223.05 - 223.05 8,758.65 7,000.00 1,758.65 7,000.00 (1,758.65) -25.1%6313758 Miscellaneous Supp 1,321.92 100.00 1,221.92 8,695.81 4,250.00 4,445.81 4,350.00 (4,345.81) 0.0%6313762 Supplies-Office 63.29 - 63.29 667.25 - 667.25 - (667.25) 0.0%6313774 Sand - 100.00 (100.00) 7,961.87 16,360.00 (8,398.13) 16,460.00 8,498.13 51.6%6313776 Seed - 350.00 (350.00) 106,483.19 106,460.00 23.19 106,810.00 326.81 0.3%6313778 Small Tools & Non-Capital Equip 90.98 100.00 (9.02) 4,662.40 4,900.00 (237.60) 5,000.00 337.60 6.8%6313780 Sod - 500.00 (500.00) 7,398.19 7,750.00 (351.81) 7,950.00 551.81 6.9%6313782 Topdressing 764.44 1,300.00 (535.56) 7,791.08 6,300.00 1,491.08 7,600.00 (191.08) -2.5%Total-CM-SUPPLIES & MATERIALS17,917.27 11,550.00 6,367.27 390,639.91 376,490.00 14,149.91 388,840.00 (1,799.91) -0.5%63-CM-REPAIRS & MAINTENANCE6315095 CM-R&M-Contract Lake Maint 2,830.00 2,600.00 230.00 31,130.00 28,600.00 2,530.00 31,200.00 70.00 0.2%6315685 CM-R&M-Bldngs & Othr Structures 136.34 250.00 (113.66) 1,859.31 5,300.00 (3,440.69) 5,550.00 3,690.69 66.5%6315690 CM-R&M-Equipment 2,811.67 2,500.00 311.67 42,690.00 29,000.00 13,690.00 31,000.00 (11,690.00) -37.7%6315692 CM-R&M-Irrigation System 1,001.07 1,000.00 1.07 14,914.57 21,650.00 (6,735.43) 22,650.00 7,735.43 34.2%6315696 CM-R&M-Pumps 783.82 500.00 283.82 6,641.88 10,500.00 (3,858.12) 10,500.00 3,858.12 36.7%6315815 CM-R&M-Trees-Pruning Etc - - - 13,500.00 10,050.00 3,450.00 10,050.00 (3,450.00) -34.3%Total-CM-REPAIRS & MAINTENANCE 7,562.90 6,850.00 712.90 110,735.76 105,100.00 5,635.76 110,950.00 214.24 0.2%63-CM-UTILTIES6317836 Utilities-Natural Gas/LPG 21.99 15.00 6.99 264.97 165.00 99.97 180.00 (84.97) 0.0%6317840 Telephones 963.52 850.00 113.52 12,502.58 9,350.00 3,152.58 10,200.00 (2,302.58) -22.6%Total-CM-UTILITIES 985.51 865.00 120.51 12,767.55 9,515.00 3,252.55 10,380.00 (2,387.55) -23.0%63-CM-OTHER EXPENSES6319020 Auto Mileage/Allowance 500.00 500.00 - 5,500.00 5,500.00 - 6,000.00 500.00 8.3%6319100 Contract Svcs-Soil/Tissue Test 2,000.00 2,000.00 - 2,000.00 4,000.00 (2,000.00) 4,000.00 2,000.00 50.0%6319102 Contract Svcs-Trash Removal 716.78 524.00 192.78 8,727.20 5,764.00 2,963.20 6,288.00 (2,439.20) 0.0%6319150 Dues & Subscriptions 365.00 - 365.00 1,585.00 440.00 1,145.00 540.00 (1,045.00) -193.5%6319170 Employee Education - 50.00 (50.00) - 1,500.00 (1,500.00) 1,550.00 1,550.00 100.0%6319197 Equipment Rental - 200.00 (200.00) 579.13 4,100.00 (3,520.87) 4,200.00 3,620.87 86.2%6319206 Licenses & Permits 1,711.00 - 1,711.00 1,896.00 1,430.00 466.00 1,430.00 (466.00) -32.6%6319490 Miscellaneous - 100.00 (100.00) 1,991.85 1,100.00 891.85 1,200.00 (791.85) -66.0%6319718 Safety Equipment & Training 119.77 100.00 19.77 5,604.28 3,750.00 1,854.28 3,850.00 (1,754.28) -45.6%6319822 Uniforms 1,315.25 920.00 395.25 13,865.23 10,120.00 3,745.23 11,040.00 (2,825.23) -25.6%Total-CM-OTHER EXPENSES 6,727.80 4,394.00 2,333.80 41,748.69 37,704.00 4,044.69 40,098.00 (1,650.69) -4.1%Month to Date Year to DateSilverRock ResortCourse Maintenance Expense StatementMay 2013Annual Budget5 May 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) 20,690.28 29,128.00 (8,437.72) 31,776.00 11,085.72 34.9%6321325 Insurance-Workers Comp 458.20 516.00 (57.80) 5,281.10 5,819.00 (537.90) 6,361.00 1,079.90 17.0%6321800 Taxes-Employer Payroll 937.96 1,346.00 (408.04) 13,897.40 15,361.00 (1,463.60) 16,808.00 2,910.60 17.3%6321880 Wages-Hourly 9,702.00 12,880.00 (3,178.00) 138,362.29 141,680.00 (3,317.71) 154,560.00 16,197.71 10.5%6321882 Wages-Overtime 4.03 - 4.03 1,851.86 5,313.00 (3,461.14) 6,279.00 4,427.14 70.5%Total-CM-LM-SALARIES & BENEFITS12,945.29 17,390.00 (4,444.71) 180,082.93 197,301.00 (17,218.07) 215,784.00 35,701.07 16.5%632-CM-LM-SUPPLIES & MATERIALS6323778 Small Tools 148.81 75.00 73.81 148.81 950.00 (801.19) 1,025.00 876.19 85.5%6323788 Uniforms 298.80 290.00 8.80 2,904.67 3,190.00 (285.33) 3,480.00 575.33 16.5%Total-CM-LM-SUPPLIES & MATERIALS447.61 365.00 82.61 3,053.48 4,140.00 (1,086.52) 4,505.00 1,451.52 32.2%632-CM-LM-REPAIRS & MAINTENANCE6325687 CM-LM-R&M-Drip Irrigation - 250.00 (250.00) 220.40 3,750.00 (3,529.60) 4,250.00 4,029.60 94.8%Total-CM-LM-REPAIRS & MAINTENANCE - 250.00 (250.00) 220.40 3,750.00 (3,529.60) 4,250.00 4,029.60 94.8%118,990.88 113,427.00 5,563.88 1,569,343.38 1,548,389.00 20,954.38 1,664,207.00 94,863.62 5.7% May Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget633-CM-WATER & ENERGY6337834 Utilities-Electricity-Pumping 14,654.75 21,017.00 (6,362.25) 143,943.48 157,161.00 (13,217.52) 178,691.00 34,747.52 19.4%6337842 Utilities-Water5,994.82 3,255.00 2,739.82 50,495.83 36,548.00 13,947.83 43,058.00 (7,437.83) -17.3%20,649.57 24,272.00 (3,622.43) 194,439.31 193,709.00 730.31 221,749.00 27,309.69 12.3%May 2013Annual BudgetMonth to Date Year to DateTotal-COURSE MAINTENANCESilverrock ResortCourse Maintenance Expense StatementSilverrock ResortCourse Maintenance Water & EnergyMay 2013Total-CM-WATER & ENERGYMonth to Date Year to Date Annual Budget6 May Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense641-CBR-SALARIES & BENEFITS6411320 Insurance-Group 737.24 662.00 75.24 5,169.96 7,282.00 (2,112.04) 7,944.00 2,774.04 34.9%6411325 Insurance-Workers Comp 1,061.52 377.00 684.52 6,362.75 4,779.00 1,583.75 5,135.00 (1,227.75) -23.9%6411800 Taxes-Employer Payroll 1,227.05 1,169.00 58.05 15,533.53 14,833.00 700.53 15,942.00 408.47 2.6%6411880 Wages-Hourly 9,858.13 9,390.00 468.13 118,234.24 119,142.00 (907.76) 128,052.00 9,817.76 7.7%6411882 Wages-Overtime 369.38 - 369.38 2,429.48 - 2,429.48 - (2,429.48) 0.0%Total-CBR-SALARIES & BENEFITS13,253.32 11,598.00 1,655.32 147,729.96 146,036.00 1,693.96 157,073.00 9,343.04 5.9%641-CBR-SUPPLIES & MATERIALS6413732 Supplies-Carts - 50.00 (50.00) 3,535.64 2,300.00 1,235.64 2,350.00 (1,185.64) -50.5%6413742 Supplies-Expendable 1,190.90 500.00 690.90 11,265.59 6,250.00 5,015.59 6,750.00 (4,515.59) -66.9%6413748 Supplies-Fuel for Shuttle 294.12 200.00 94.12 1,850.31 2,900.00 (1,049.69) 3,000.00 1,149.69 38.3%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) - 475.00 (475.00) 525.00 525.00 100.0%6413768 Supplies-Printing and Stationary - 70.00 (70.00) 59.27 350.00 (290.73) 420.00 360.73 85.9%6413786 Supplies-Towels 640.00 72.00 568.00 3,677.41 933.00 2,744.41 1,005.00 (2,672.41) -265.9%6413796 Supplies-Bottled Water31.85 50.00 (18.15) 9,238.83 12,500.00 (3,261.17) 24,500.00 15,261.17 62.3%Total-CBR-SUPPLIES & MATERIALS2,156.87 992.00 1,164.87 38,804.80 34,708.00 4,096.80 47,550.00 8,745.20 18.4%641-CBR-REPAIRS & MAINTENANCE6415690 CBR-R&M-Equipment - 300.00 (300.00) 3,282.81 3,300.00 (17.19) 3,600.00 317.19 8.8%6415695 CBR-R&M-Cart Maintenance & Repair 1,188.32 750.00 438.32 6,181.89 9,000.00 (2,818.11) 9,750.00 3,568.11 36.6%Total-CBR-REPAIRS & MAINTENANCE 1,188.32 1,050.00 138.32 9,464.70 12,300.00 (2,835.30) 13,350.00 3,885.30 29.1%641-CBR-OTHER EXPENSES6419094 Contract Services-Laundry/Linen 1,919.73 800.00 1,119.73 10,596.59 8,800.00 1,796.59 9,600.00 (996.59) -10.4%6419220 Freight/Delivery - - - - 450.00 (450.00) 450.00 450.00 100.0%6419490 Miscellaneous 374.71 125.00 249.71 658.51 1,025.00 (366.49) 1,150.00 491.49 42.7%6419820 Uniforms 897.00 1,500.00 (603.00) 3,214.39 5,000.00 (1,785.61) 5,200.00 1,985.61 38.2%Total-CBR-OTHER EXPENSES 3,191.44 2,425.00 766.44 14,469.49 15,275.00 (805.51) 16,400.00 1,930.51 11.8%TOTAL-CARTS,BAGROOM & RANGE 19,789.95 16,065.00 3,724.95 210,468.95 208,319.00 2,149.95 234,373.00 23,904.05 10.2%643-CS-SALARIES & BENEFITS6431320 Insurance-Group - - - - - - - - 0.0%6431325 Insurance-Workers Comp 442.30 82.00 360.30 3,417.48 1,823.00 1,594.48 1,903.00 (1,514.48) -79.6%6431800 Taxes-Employer Payroll 253.34 213.00 40.34 5,744.72 4,744.00 1,000.72 4,960.00 (784.72) -15.8%6431880 Wages-Hourly 2,202.00 2,040.00 162.00 43,648.00 45,420.00 (1,772.00) 47,460.00 3,812.00 8.0%6431882 Wages-Overtime - - - - - - - - 0.0%Total-CS-SALARIES & BENEFITS2,897.64 2,335.00 562.64 52,810.20 51,987.00 823.20 54,323.00 1,512.80 2.8%643-CS-OTHER EXPENSES6433742 Supplies Expendable - 75.00 (75.00) 777.31 975.00 (197.69) 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) 114.53 550.00 (435.47) 600.00 485.47 80.9%6439820 Uniforms 379.06 75.00 304.06 1,772.52 2,050.00 (277.48) 2,125.00 352.48 16.6%Total-CS-OTHER EXPENSES 379.06 200.00 179.06 3,615.65 3,775.00 (159.35) 3,975.00 359.35 9.0%Total-COURSE SERVICES 3,276.70 2,535.00 741.70 56,425.85 55,762.00 663.85 58,298.00 1,872.15 3.2%23,066.65 18,600.00 4,466.65 266,894.80 264,081.00 2,813.80 292,671.00 25,416.85 8.7%TOTAL OUTSIDE SERVICESMonth to Date Year to DateSilverRock ResortOutside Services Expense StatementMay 2013Annual Budget7 May Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense65-CH-SUPPLIES & MATERIALS6503742 Supplies-Expendable- 400.00 (400.00) 1,264.00 4,400.00 (3,136.00) 4,800.00 3,536.00 73.7%Total-CH-SUPPLIES & MATERIALS - 400.00 (400.00) 1,264.00 4,400.00 (3,136.00) 4,800.00 3,536.00 73.7%65-CH-UTILITIES6507836 Utilities-Natural Gas445.64 300.00 145.64 3,342.45 3,300.00 42.45 3,600.00 257.55 7.2%6507840 Utilities-Telephone1,249.40 1,150.00 99.40 13,557.11 12,650.00 907.11 13,800.00 242.89 1.8%6507842 Utilities-Water559.19 321.00 238.19 4,223.80 3,531.00 692.80 3,852.00 (371.80) -9.7%6507844 Utilities-Cable335.35 340.00 (4.65) 3,704.45 3,740.00 (35.55) 4,080.00 375.55 9.2%Total-CH-UTILITIES 2,589.58 2,111.00 478.58 24,827.81 23,221.00 1,606.81 25,332.00 504.19 2.0%65-CH-OTHER EXPENSES6509091 Contract Services-Cleaning1,825.00 1,825.00 - 20,499.50 20,675.00 (175.50) 22,500.00 2,000.50 8.9%6509099 Contract Services-Security4,565.04 4,900.00 (334.96) 57,270.40 55,500.00 1,770.40 60,400.00 3,129.60 5.2%6509215 Flowers & Decorations- - - 98.89 2,000.00 (1,901.11) 2,400.00 2,301.11 95.9%6509490 Miscellaneous16.57 200.00 (183.43) 447.15 2,200.00 (1,752.85) 2,400.00 1,952.85 81.4%6509718 Safety Equipment & Training- 100.00 (100.00) 597.31 1,100.00 (502.69) 1,200.00 602.69 50.2%Total-CH-OTHER EXPENSES 6,406.61 7,025.00 (618.39) 78,913.25 81,475.00 (2,561.75) 88,900.00 9,986.75 11.2%65-CH-REPAIRS & MAINTENANCE6515685 CH-R&M-Building Structures88.49 300.00 (211.51) 3,309.29 3,300.00 9.29 3,600.00 290.71 8.1%6515686 CH-R&M-Restaurant Repairs- 400.00 (400.00) 4,508.20 4,400.00 108.20 4,800.00 291.80 6.1%6515690 CH-R&M-Equipment Repair- 400.00 (400.00) 3,502.28 4,400.00 (897.72) 4,800.00 1,297.72 27.0%Total-CH-REPAIRS & MAINTENANCE 88.49 1,100.00 (1,011.51) 11,319.77 12,100.00 (780.23) 13,200.00 1,880.23 14.2%9,084.68 10,636.00 (1,551.32) 116,324.83 121,196.00 (4,871.17) 132,232.00 3,760.46 2.8%Total CLUBHOUSEMonth to Date Year to DateSilverRock ResortClubhouse Expense StatementMay 2013Annual Budget8 May Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense66-MKT-SALARIES & BENEFITS6601320 Insurance-Group 368.62 331.00 37.62 3,694.32 3,641.00 53.32 3,972.00 277.68 7.0%6601325 Insurance-Workers Comp 88.46 101.00 (12.54) 1,483.40 1,111.00 372.40 1,207.00 (276.40) -22.9%6601720 Salaries 2,353.53 2,508.00 (154.47) 25,869.01 27,588.00 (1,718.99) 30,096.00 4,226.99 14.0%6601800 Taxes-Employer Payroll 256.48 262.00 (5.52) 3,514.37 2,882.00 632.37 3,145.00 (369.37) -11.7%Total-MKT-SALARIES & BENEFITS 3,067.09 3,202.00 (134.91) 34,561.10 35,222.00 (660.90) 38,420.00 3,858.90 10.0%66-MKT-SUPPLIES & MATERIALS6603762 Supplies-Office - 100.00 (100.00) 374.87 1,100.00 (725.13) 1,200.00 825.13 68.8%6603768 Supplies-Printing & Stationery 901.99 125.00 776.99 6,598.64 4,300.00 2,298.64 4,425.00 (2,173.64) -49.1%901.99 225.00 676.99 6,973.51 5,400.00 1,573.51 5,625.00 (1,348.51) -24.0%66-MKT-UTILITIES6607840 Utilities-Telephone 94.94 100.00 (5.06) 1,129.81 1,100.00 29.81 1,200.00 70.19 5.8%Total-MKT-UTILITIES 94.94 100.00 (5.06) 1,129.81 1,100.00 29.81 1,200.00 70.19 5.8%66-MKT-OTHER EXPENSES6609010 Advertising 20,066.34 8,012.00 12,054.34 159,719.62 173,669.00 (13,949.38) 179,231.00 19,511.38 10.9%6609040 Business Meals - - - - - - 300.00 300.00 100.0%6609080 Collateral Material - 1,000.00 (1,000.00) 2,742.37 8,500.00 (5,757.63) 9,000.00 6,257.63 69.5%6609102 Contract Services-Web Page 99.00 300.00 (201.00) 1,089.00 3,300.00 (2,211.00) 3,600.00 2,511.00 69.8%6609490 Miscellaneous - 50.00 (50.00) - 350.00 (350.00) 350.00 350.00 100.0%6609620 Postage - 50.00 (50.00) 19.82 550.00 (530.18) 600.00 580.18 96.7%6609630 Promotion - 25.00 (25.00) 104.43 275.00 (170.57) 3,000.00 2,895.57 0.0%6609633 Promotion-Community - 125.00 (125.00) 766.75 2,825.00 (2,058.25) 2,250.00 1,483.25 65.9%6609634 Promotion-Media/Vendor - - - 145.00 3,000.00 (2,855.00) 700.00 - 0.0%6609150 Dues and Subscriptions 110.00 - 110.00 453.32 735.00 (281.68) 735.00 281.68 38.3%6609820 Uniforms - - - 194.74 600.00 (405.26) 600.00 405.26 67.5%Total-MKT-OTHER EXPENSES 20,275.34 9,562.00 10,713.34 165,235.05 193,804.00 (28,568.95) 200,366.00 34,575.95 17.3%24,339.36 13,089.00 11,250.36 207,899.47 235,526.00 (27,626.53) 245,611.00 37,156.53 15.1%Total-MARKETINGMonth to Date Year to DateSilverRock ResortMarketing Expense StatementMay 2013Annual Budget9 May Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense67-G&A-SALARIES & BENEFITS6701320 Insurance-Group1,875.30 1,458.00 417.30 18,096.93 16,038.00 2,058.93 17,496.00 (600.93) -3.4%6701325 Insurance-Workers Comp265.38 688.00 (422.62) 4,414.55 7,568.00 (3,153.45) 8,254.00 3,839.45 46.5%6701720 Salaries 12,295.52 15,003.00 (2,707.48) 156,274.38 165,033.00 (8,758.62) 178,000.00 21,725.62 12.2%6701800 Taxes-Employer Payroll 1,071.74 1,792.00 (720.26) 14,636.23 19,712.00 (5,075.77) 21,510.00 6,873.77 32.0%6701880 Wages-Hourly2,940.79 2,150.00 790.79 24,238.61 23,650.00 588.61 27,835.00 3,596.39 12.9%6701882 Wages-Overtime 11.81 - 11.81 34.50 - 34.50 - (34.50) 0.0%Total-G&A-SALARIES & BENEFITS 18,460.54 21,091.00 (2,630.46) 217,695.20 232,001.00 (14,305.80) 253,095.00 35,399.80 14.0%67-G&A-SUPPLIES & MATERIALS6703740 Supplies-Computer- 400.00 (400.00) 2,843.09 4,400.00 (1,556.91) 5,200.00 2,356.91 45.3%6703762 Supplies-Office 351.84 100.00 251.84 1,720.29 1,100.00 620.29 1,200.00 (520.29) -43.4%6703768 Supplies-Printing & Stationery- 400.00 (400.00) 1,106.49 2,900.00 (1,793.51) 3,300.00 2,193.51 66.5%Total-G&A-SUPPLIES & MATERIALS 351.84 900.00 (548.16) 5,669.87 8,400.00 (2,730.13) 9,700.00 4,030.13 41.5%67-G&A-REPAIRS & MAINTENANCE6705690 Repairs & Maintenance-Equipment- 100.00 (100.00) 579.60 1,000.00 (420.40) 1,100.00 520.40 47.3%Total-G&A-REPAIRS & MAINTENANCE - 100.00 (100.00) 579.60 1,000.00 (420.40) 1,100.00 520.40 47.3%67-G&A-OTHER EXPENSES6709020 Auto/Mileage Allowance400.00 400.00 - 4,400.00 4,400.00 - 4,800.00 400.00 8.3%6709150 Dues & Subscriptions- 500.00 (500.00) 456.00 1,650.00 (1,194.00) 1,700.00 1,244.00 73.2%6709180 Employee Recruiting/Relocation307.19 - 307.19 2,159.79 1,400.00 759.79 1,400.00 (759.79) -54.3%6709197 Equipment Rental509.21 480.00 29.21 7,387.92 5,280.00 2,107.92 5,760.00 (1,627.92) -28.3%6709202 Fees-Bank118.71 90.00 28.71 1,280.98 990.00 290.98 1,080.00 (200.98) -18.6%6709208 Fees-Payroll Processing1,220.87 1,100.00 120.87 13,988.03 12,100.00 1,888.03 13,200.00 (788.03) -6.0%6709220 Freight/Delivery- 50.00 (50.00) - 550.00 (550.00) 600.00 600.00 100.0%6709490 Miscellaneous - 100.00 (100.00) 147.63 1,100.00 (952.37) 1,200.00 1,052.37 87.7%6709491 Loss/Damage- - - 736.60 - 736.60 - 0.0%6709620 Postage/Mail Services 261.45 75.00 186.45 1,620.25 825.00 795.25 900.00 (720.25) -80.0%6709625 Professional Fees461.21 850.00 (388.79) 11,143.03 9,350.00 1,793.03 10,200.00 (943.03) -9.2%6709636 Promotion/Entertainment- 100.00 (100.00) 2,526.78 3,000.00 (473.22) 3,100.00 573.22 18.5%6709722 Seminars & Training160.00 200.00 (40.00) 996.08 2,200.00 (1,203.92) 2,400.00 1,403.92 58.5%6709810 Travel - 500.00 (500.00) - 900.00 (900.00) 1,100.00 1,100.00 100.0%6709820 Uniforms - 75.00 (75.00) 975.35 975.00 0.35 1,050.00 74.65 7.1%Total-G&A-OTHER EXPENSES 3,438.64 4,520.00 (1,081.36) 47,818.44 44,720.00 3,098.44 48,490.00 1,408.16 2.9%22,251.02 26,611.00 (4,359.98) 271,763.11 286,121.00 (14,357.89) 312,385.00 41,358.49 13.2%Total-GENERAL & ADMINISTRATIVEMonth to Date Year to DateSilverRock ResortGeneral & Administrative Expense StatementMay 2013Annual Budget10 Income May Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4009300Resident Card Issue12,600.00 - 12,600.00 149,160.00 - 149,160.00 - - 0%- - 0% Total Revenue Resident Cards12,600.00 - 12,600.00 149,160.00 - 149,160.00 - - 0%Expense60-RC-SALARIES & BENEFITS6001800 Taxes-Employer Payroll 174.40 - 174.40 1,320.80 - 1,320.80 - - 0%6001325 Insurance-Workers Comp67.04 - 67.04 268.16 268.16 0%6001880 Wages-Hourly1,041.48 - 1,041.48 7,646.35 - 7,646.35 - - 0%6001882 Wages-Overtime - - - - - - - - 0%Total -RC-SALARIES & BENEFITS 1,282.92 - 1,282.92 9,235.31 - 9,235.31 - - 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 15,636.00 - 15,636.00 - - 0%Net Income11,317.08 - 11,317.08 133,524.00 - 133,524.00 - - 0%Month to Date Year to Date Annual BudgetTotal-RESIDENT CARDSSilverRock ResortResident Card Income StatementMay 201311 May Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense68-LEASES6800192 Equipment Leases-Carts 11,091.63 12,075.00 (983.37) 127,421.98 132,825.00 (5,403.02) 144,900.00 17,478.02 12.1%6800194 Equipment Leases-Trailer 512.61 600.00 (87.39) 5,325.68 6,600.00 (1,274.32) 7,200.00 1,874.32 26.0%6800196 Equipment Leases-GPS 4,940.00 5,755.00 (815.00) 54,340.00 63,305.00 (8,965.00) 69,060.00 14,720.00 21.3%6800197 Equipment Leases-Others 446.47 460.00 (13.53) 7,037.64 5,060.00 1,977.64 5,520.00 (1,517.64) 0.0%16,990.71 18,890.00 (1,899.29) 194,125.30 207,790.00 (13,664.70) 226,680.00 32,554.70 14.4%69-MISC OTHER EXPENSES6900096 Contract Srvcs-Management Fee (4,186.75) 4,579.00 (8,765.75) 40,865.32 71,181.00 (30,315.68) 90,000.00 49,134.68 54.6%6900210 FF&E Reserve 5,561.36 6,186.00 (624.64) 59,868.82 63,930.00 (4,061.18) 67,015.00 7,146.18 10.7%6900800 Personal Property Taxes 67.57 - 67.57 13,160.77 14,800.00 (1,639.23) 14,800.00 1,639.23 11.1%6900323 Insurance-Commercial 2,790.00 2,200.00 590.00 29,365.65 24,200.00 5,165.65 26,400.00 (2,965.65) -11.2%4,232.18 12,965.00 (8,732.82) 143,260.56 174,111.00 (30,850.44) 198,215.00 54,954.44 27.7%Silverrock ResortOperating Leases & Miscellaneous Other Expense StatementMay 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 CategoryJanuaryFebruaryMarchAprilMayJuneMedia68 8Sales24Promotion56Golf Industry2VIPCelebrityPGA Comp23 162330 60Charity/Gift Certificate8142216 9Rain/Wind Checks10 111111 5Club Staff132 5662102 136LQ HS Golf64 101 167 131 28248 210 285 294 252 013 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report-2012-2013May 2013 Date Time Description CategoryPlayers5/17/2013 8:15 Todd Saelhof, Calgary Sun Newspaper Media 45/20/2013 7:30 Alessio Filippi, Golf Digest Rater Promo 25/23/2013 11:45 David Lopez, Wounded Warriors Promo 45/25/2013 11:00 Kris Long, TV Anchor CBS2 Media 414