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11 May 2014 SilverRock Resort - Monthly Financial Statement
Monthly Financial Statements July 2013 – May 2014 TABLE OF CONTENTS Summary Operating Income Expense 1 Statement of Fee Revenue 2 Variance Report 3 Course Maintenance Expense Statement 4 Outside Service Expense Statement 6 Clubhouse Expense Statement 7 Marketing Expense Statement 8 General & Administrative Expense Statement 9 Operating Leases & Miscellaneous Expense Statement 10 Complimentary Report 11 Annual BudgetAccount Description May Final Budget Variance Percentages Unfavorable (-) Favorable (+) Final Budget Variance Annual Budget Unemcumb. % Bdgt Income400000 Golf Green Fee Revenue80,257.87 309,291.00 (229,033.13) -74.1% 2,882,943.06 3,139,979.00 (257,035.94) 3,294,267.00 411,323.94 88%401000 Miscellaneous Golf Revenue 20,724.50 18,385.00 2,339.50 12.7% 352,894.00 294,021.00 58,873.00 302,480.00 (50,414.00) 117%410000 Revenue-Golf Shop 9,507.32 31,500.00 (21,992.68) -69.8% 204,482.00 264,886.00 (60,404.00) 279,585.00 75,103.00 73%420000 Revenue-F&B Concession500.00 500.00 - 0.0% 11,500.00 11,500.00 - 12,000.00 500.00 96%890000 Interest Income2.50 - 2.50 0.0% 8.48 - 8.48 - (8.48) 0%Total Income110,992.19 359,676.00 (248,683.81) -69.1% 3,451,827.54 3,710,386.00 (258,558.46) 3,888,332.00 436,504.46 89%Cost of Goods Sold510000 COS-Golf Shop 6,053.69 16,719.00 (10,665.31) 63.8% 117,341.16 140,586.30 23,245.14 148,390.00 31,048.84 79%Total COS6,053.69 16,719.00 (10,665.31) 63.8% 117,341.16 140,586.30 23,245.14 148,390.00 31,048.84 79%Gross Profit104,938.50 342,957.00 (238,018.50) -69.4% 3,334,486.38 3,569,799.70 (235,313.32) 3,739,942.00 405,455.62 89%Expenses610000 Golf Pro Shop 17,199.71 21,872.00 4,672.29 21.4% 173,794.50 201,749.00 27,954.50 219,667.00 45,872.50 79%630000 Course Maintenance112,439.03 113,970.00 1,530.97 1.3% 1,578,594.75 1,567,938.00 (10,656.75) 1,684,328.00 105,733.25 94%633000 Maintenance Water & Energy20,069.23 24,272.00 4,202.77 17.3% 185,617.87 195,609.00 9,991.13 223,629.00 38,011.13 83%640000 Outside Services25,919.80 26,495.00 575.20 2.2% 247,976.89 264,781.00 16,804.11 281,182.00 33,205.11 88%650000 Clubhouse 10,296.78 10,636.00 339.22 3.2% 125,390.18 120,696.00 (4,694.18) 131,732.00 6,341.82 95%660000 Marketing 19,453.67 12,959.00 (6,494.67) -50.1% 226,691.51 229,096.00 2,404.49 239,552.00 12,860.49 95%670000 General & Administrative30,027.85 27,642.00 (2,385.85) -8.6% 287,864.46 296,362.00 8,497.54 323,543.00 35,678.54 89%680000 Leases 16,505.48 18,890.00 2,384.52 12.6% 176,792.20 207,790.00 30,997.80 226,680.00 49,887.80 78%690000 Miscellaneous Other Expense12,685.43 16,386.00 3,700.57 22.6% 177,791.73 189,800.00 12,008.27 203,085.00 25,293.27 88%Total Expenses264,596.98 273,122.00 8,525.02 3.1% 3,180,514.09 3,273,821.00 93,306.91 3,533,398.00 352,883.91 90%(159,658.48) 69,835.00 (229,493.48) -328.6%153,972.29 295,978.70 (142,006.41) 206,544.00 52,571.71 75%Rounds of Golf PlayedPaid Rounds Played 2,316 5,250 (2,934) -55.9% 42,328 44,260 (1,932) 46,710 4,382 91%Ave $ Per Paid Round Green Fee34.65 58.91 (24.26) -41.2% 68.11 70.94 (2.83) 70.53 2.42 97%Ave $ Per Paid Round Merchandise4.11 6.00 (1.89) -31.6% 4.83 5.98 (1.15) 5.99 1.15 81%Ave $ Per Paid Miscellaneous 8.95 3.50 5.45 155.5% 8.34 6.64 1.69 6.48 (1.86) 0%SilverRock ResortSummary Operating Income StatementNet IncomeMonth to Date Year to DateMay 20141 Sales and Cost of SalesActual Budget Variance$80,257.87 $309,291.00 (229,033.13)Unfavorable: Due to canal re-construction we were limited to a 9 hole golf course. This resulted in not only reducedrounds played but reduced revenue per round.Actual Budget Variance$20,724.50 $18,385.00 2,339.50Favorable: Due to additional golf schools (Golf Made Simple), and increased resident card issuances.Actual BudgetVariance$9,507.32 $31,500.00 (21,992.68)Unfavorable: Merchandise sales were down by nearly 31%; due to reduced rounds played as a result of canal re-constructionExpensesPro Shop Cost of SalesActual BudgetVariance$6,053.69 $16,719.00 (10,665.31)63.67% 53.08% 10.60%Unfavorable: Due to end of season discounts on apparel and hardgoods. Actual Budget Variance$17,199.71 $21,872.00 (4,672.29)Favorable: Due to reduced salaries and benefits in an effort to reduce payroll. Also, reduced cost of seminars and training.Actual Budget Variance$20,069.23 $24,272.00 (4,202.77)Favorable: Electricity reduced due to reducing water pump run times for the water features. Actual Budget Variance$19,453.67 $12,959.00 6,494.67Unfavorable: Due to timing of Kiner Communications invoice for advertising.Actual Budget Variance$16,505.48 $18,890.00 (2,384.52)Favorable: Reduced monthly cost for due to renewed GPS and golf cart lease contracts.Actual Budget Variance$12,685.43 $16,386.00 (3,700.57)Favorable: With reduced rounds and revenue while undergoing the canal project, the FF&E reserve is reduce based ontotal revenue for green fees.provided for those cost of sales percentage that are greater than 5%.Golf ShopWater & EnergyMarketingMisc Golf RevenueLeasesMiscellaneous Other Expenses Variance ExplanationMay 2014Pro Shop Merchandise SalesThe explanation of variance from budget shown below provide details of variances by revenue and expensecatagories of at least $1,000 that are greater than 10% of the budgeted amounts. Separate explanations areRevenue Fees3-20-132 Income May Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4000000 Revenue-Fees 80,257.87 309,291.00 (229,033.13) 2,882,943.06 3,139,979.00 (257,035.94) 3,294,267.00411,323.9488%4010000 Rider Fee 375.00 525.00 (150.00) 9,275.00 7,456.00 1,819.00 7,700.00-1,575.00120%4040000 Club Rental 1,334.00 2,625.00 (1,291.00) 20,404.00 22,130.00 (1,726.00) 23,355.002,951.0087%4050000 Driving Range 5,335.00 7,875.00 (2,540.00) 105,163.00 86,650.00 18,513.00 90,325.00-14,838.00116%4060000 Handicap Fees - - - 2,744.00 2,500.00 244.00 2,500.00-244.000%4080000 GPS Advertising - - - 500.00 2,600.00 (2,100.00) 2,600.00 2,100.0019%4090000 Ball Retriever/Subcontract - - - 4,280.00 4,000.00 280.00 4,000.00 -280.00107%4091000 Golf Professional Rental Fee 6,735.50 4,000.00 2,735.50 55,442.75 37,000.00 18,442.75 37,000.00 -18,442.75 150%4092000 Golf Lessons - - - 1,275.25 - 1,275.25 - (1,275.25) 0%4093000 Resident Card Issue 6,945.00 3,360.00 3,585.00 153,810.00 131,685.00 22,125.00 135,000.00 (18,810.00) 114% Total Revenue Fees 100,982.37 327,676.00 (226,693.63) 3,235,837.06 3,434,000.00 (198,162.94) 3,461,747.00 379,719.94 89%100,982.37 327,676.00 (226,693.63) 3,235,837.06 3,434,000.00 (198,162.94) 3,461,747.00 379,719.94 89%SilverRock ResortStatement of Fees RevenueMay 2014Total IncomeMonth to Date Year to Date Annual Budget3 Income May Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4100000 Sales Miscellaneous 542.50 - 542.50 2,955.13 - 2,955.13 0 0 0%4100110 Sales Hard Goods 4,363.99 11,025.00 (6,661.01) 78,318.43 92,710.00 (14,391.57) 97,855.00 19,536.57 80%4100112 Sales-Soft Goods 5,631.50 20,475.00 (14,843.50) 150,696.30 172,176.00 (21,479.70) 181,730.00 31,033.70 83%5100639 GS-Discounts-Mdse (1,030.67) - (1,030.67) (27,487.86) - (27,487.86) - 27,487.86 0% Total Revenue Golf Shop 9,507.32 31,500.00 (21,992.68) 204,482.00 264,886.00 (60,404.00) 279,585.00 78,058.13 72%COS 5100150 COS-GS-Hard Goods 3,390.47 6,063.75 (2,673.28) 46,371.50 50,990.50 (4,619.00) 53,820.25 7,448.75 86%5100151 COS-GS-Soft Goods 2,406.29 11,261.25 (8,854.96) 68,682.36 94,696.80 (26,014.44) 99,951.50 31,269.14 69%5100152 COS-GS-Purchase Disc (58.32) (866.00) 807.68 (1,294.35) (7,285.00) 5,990.65 (7,689.00) (6,394.65) -17%5100220 COS-GS-Freight Merch 315.25 260.00 55.25 3,581.65 2,184.00 1,397.65 2,307.00 (1,274.65) 155%Cost of Sales - Golf Shop 6,053.69 16,719.00 (10,665.31) 117,341.16 140,586.30 (23,245.14) 148,389.75 31,048.59 79%Gross Profit 3,453.63 14,781.00 (11,327.37) 87,140.84 124,299.70 (37,158.86) 131,195.25 47,009.54 64%COS % 63.7% 53.1% -10.6% 57.4% 53.1% -4.3% 53.1% 39.8% 25%Expense61-PS-SALARIES & BENEFITS6101320 Insurance Group 1,616.22 2,317.00 (700.78) 21,920.24 24,494.00 (2,573.76) 26,811.00 4,890.76 82%6101325 Insurance-Workers Comp 314.99 493.00 (178.01) 5,792.06 5,188.00 604.06 5,663.00 (129.06) 102%6101720 Salaries 3,545.44 3,750.00 (204.56) 39,925.28 41,250.00 (1,324.72) 45,000.00 5,074.72 89%6101800 Taxes-Employer Payroll 1,032.58 1,384.00 (351.42) 13,438.59 14,547.00 (1,108.41) 1,588.00 (11,850.59) 846%6101880 Wages-Hourly 7,862.57 8,553.00 (690.43) 78,906.16 88,055.00 (9,148.84) 96,229.00 17,322.84 82%6101882 Wages-Overtime 21.56 - 21.56 663.96 - 663.96 - 952.88 0%Total -PS-SALARIES & BENEFITS 14,393.36 16,497.00 (2,103.64) 160,646.29 173,534.00 (12,887.71) 175,291.00 16,261.55 91%61-PS OTHER EXPENSES6103742 Supplies-Expendable - - - - - - - - 0%6103762 Supplies-Office 221.43 500.00 (278.57) 1,326.04 5,500.00 (4,173.96) 6,000.00 4,673.96 22%6109090 Contract Services 500.00 500.00 - 4,537.16 5,500.00 (962.84) 6,000.00 1,462.84 76%6109220 Freight & Delivery - - - 118.88 75.00 43.88 75.00 (43.88) 159%6109490 Miscellaneous 327.99 500.00 (172.01) 1,670.03 5,500.00 (3,829.97) 6,000.00 4,329.97 28%6109150 Dues and Subscriptions 1,683.00 2,300.00 (617.00) 1,683.00 2,300.00 (617.00) 2,300.00 617.00 73%6109500 ProShop-Over/Short (10.26) - (10.26) 33.36 - 33.36 - (33.36) 0%6109722 Seminars/Training - 1,250.00 (1,250.00) 284.88 5,855.00 (5,570.12) 5,890.00 5,605.12 5%6109810 Travel - Merchandise - 15.00 (15.00) - 75.00 (75.00) 90.00 90.00 0%6109820 Uniforms - 200.00 (200.00) 2,302.71 2,200.00 102.71 2,400.00 97.29 96%6117840 Telephones 84.19 110.00 (25.81) 1,192.15 1,210.00 (17.85) 1,320.00 127.85 0%Total PS-OTHER EXPENSES 2,806.35 5,375.00 (2,568.65) 13,148.21 28,215.00 (15,066.79) 30,075.00 16,926.79 44%17,199.71 21,872.00 (4,672.29) 173,794.50 201,749.00 (27,954.50) 205,366.00 33,188.34 84%Net Income(13,746.08) (7,091.00) (6,655.08) (86,653.66) (77,449.30) (9,204.36) (74,170.75) 13,821.20 -119%SilverRock ResortGolf Shop Income StatementMay 2014Total Expenses-Golf ShopMonth to Date Year to Date Annual Budget4 May Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense63-CM-SALARIES & BENEFITS6311320 Insurance-Group 8,982.34 8,740.00 242.34 106,189.94 96,140.00 10,049.94 104,880.00 (1,309.94) -1.2%6311325 Insurance-Workers Comp 2,742.65 2,208.00 534.65 25,907.16 24,995.00 912.16 27,280.00 1,372.84 5.0%6311720 Salaries 10,620.80 11,001.60 (380.80) 122,449.60 121,017.60 1,432.00 150,996.00 28,546.40 18.9%6311800 Taxes-Employer Payroll 4,697.43 6,194.00 (1,496.57) 63,310.28 70,612.00 (7,301.72) 774,129.00 710,818.72 91.8%6311880 Wages-Hourly 39,801.83 44,059.40 (4,257.57) 499,664.30 493,571.40 6,092.90 518,654.00 18,989.70 3.7%6311882 Wages-Overtime - - - 15,051.32 13,076.00 1,975.32 15,945.00 893.68 5.6%Total-CM-SALARIES & BENEFITS66,845.05 72,203.00 (5,357.95) 832,572.60 819,412.00 13,160.60 1,591,884.00 759,311.40 47.7%63-CM-SUPPLIES & MATERIALS6313734 Chemicals 1,485.01 - 1,485.01 23,694.73 - 23,694.73 34,600.00 10,905.27 31.5%6313744 Fertilizer 4,789.26 5,900.00 (1,110.74) 109,457.74 140,100.00 (30,642.26) 112,500.00 3,042.26 2.7%6313745 Herbicides - - - 19,939.75 17,000.00 2,939.75 17,000.00 (2,939.75) -17.3%6313746 Flowers/Plants 324.00 - 324.00 777.60 3,050.00 (2,272.40) 3,050.00 2,272.40 74.5%6313748 Fuel-Gasoline 4,689.18 3,100.00 1,589.18 41,665.76 51,920.00 (10,254.24) 55,020.00 13,354.24 24.3%6313750 Golf Course Accessories 125.07 100.00 25.07 12,839.16 12,900.00 (60.84) 13,000.00 160.84 1.2%6313756 POA Control - - - 8,334.67 7,000.00 1,334.67 7,000.00 (1,334.67) -19.1%6313758 Miscellaneous Supp 351.06 100.00 251.06 8,653.89 4,250.00 4,403.89 4,350.00 (4,303.89) 0.0%6313762 Supplies-Office - - - 151.49 - 151.49 - (151.49) 0.0%6313774 Sand - 100.00 (100.00) 3,617.84 13,360.00 (9,742.16) 13,460.00 9,842.16 73.1%6313776 Seed - 350.00 (350.00) 133,342.90 106,460.00 26,882.90 106,810.00 (26,532.90) -24.8%6313778 Small Tools & Non-Capital Equip 163.11 100.00 63.11 6,091.34 4,900.00 1,191.34 5,000.00 (1,091.34) -21.8%6313780 Sod - 500.00 (500.00) 2,616.72 10,250.00 (7,633.28) 10,450.00 7,833.28 75.0%6313782 Topdressing - 1,300.00 (1,300.00) 5,325.78 9,300.00 (3,974.22) 10,600.00 5,274.22 49.8%Total-CM-SUPPLIES & MATERIALS11,926.69 11,550.00 376.69 376,509.37 380,490.00 (3,980.63) 392,840.00 16,330.63 4.2%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 138.29 250.00 (111.71) 2,558.45 5,300.00 (2,741.55) 5,550.00 2,991.55 53.9%6315690 CM-R&M-Equipment 3,533.41 2,500.00 1,033.41 48,392.55 38,000.00 10,392.55 40,000.00 (8,392.55) -21.0%6315692 CM-R&M-Irrigation System 1,563.34 1,000.00 563.34 18,369.15 18,050.00 319.15 19,050.00 680.85 3.6%6315696 CM-R&M-Pumps 2,277.40 500.00 1,777.40 6,591.31 10,500.00 (3,908.69) 10,500.00 3,908.69 37.2%6315815 CM-R&M-Trees-Pruning Etc - - - 15,045.00 12,050.00 2,995.00 12,050.00 (2,995.00) -24.9%Total-CM-REPAIRS & MAINTENANCE 10,342.44 6,850.00 3,492.44 122,086.46 112,500.00 9,586.46 118,350.00 (3,736.46) -3.2%63-CM-UTILTIES6317836 Utilities-Natural Gas/LPG 24.20 15.00 9.20 236.56 165.00 71.56 180.00 (56.56) 0.0%6317840 Telephones 1,075.90 850.00 225.90 11,258.06 9,350.00 1,908.06 10,200.00 (1,058.06) -10.4%Total-CM-UTILITIES 1,100.10 865.00 235.10 11,494.62 9,515.00 1,979.62 10,380.00 (1,114.62) -10.7%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 - 4,000.00 4,000.00 - 4,000.00 - 0.0%6319102 Contract Svcs-Trash Removal 752.46 524.00 228.46 9,454.72 5,764.00 3,690.72 6,288.00 (3,166.72) 0.0%6319150 Dues & Subscriptions - - - 1,210.00 440.00 770.00 540.00 (670.00) -124.1%6319170 Employee Education - 50.00 (50.00) 69.00 1,500.00 (1,431.00) 1,550.00 1,481.00 95.5%6319197 Equipment Rental - 200.00 (200.00) 729.52 3,300.00 (2,570.48) 3,400.00 2,670.48 78.5%6319206 Licenses & Permits - - - 4,672.00 4,180.00 492.00 4,180.00 (492.00) -11.8%6319490 Miscellaneous - 100.00 (100.00) 316.32 1,100.00 (783.68) 1,200.00 883.68 73.6%6319718 Safety Equipment & Training 425.99 100.00 325.99 4,193.21 3,750.00 443.21 3,850.00 (343.21) -8.9%6319822 Uniforms 689.74 920.00 (230.26) 11,193.56 10,120.00 1,073.56 11,040.00 (153.56) -1.4%Total-CM-OTHER EXPENSES 4,368.19 4,394.00 (25.81) 41,338.33 39,654.00 1,684.33 42,048.00 709.67 1.7%Month to Date Year to DateSilverRock ResortCourse Maintenance Expense StatementMay 2014Annual Budget5 May Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget632-CM-LANDSCAPE MAINTENANCE632-CM-LM-SALARIES & BENEFITS6321320 Insurance-Group 1,868.05 2,648.00 (779.95) 20,082.57 29,128.00 (9,045.43) 31,776.00 11,693.43 36.8%6321325 Insurance-Workers Comp 402.41 516.00 (113.59) 5,108.11 5,819.00 (710.89) 6,361.00 1,252.89 19.7%6321800 Taxes-Employer Payroll 1,563.78 1,449.00 114.78 16,497.37 16,537.00 (39.63) 18,094.00 1,596.63 8.8%6321880 Wages-Hourly 13,791.31 12,880.00 911.31 144,450.26 141,680.00 2,770.26 154,560.00 10,109.74 6.5%6321882 Wages-Overtime - - - 4,966.95 5,313.00 (346.05) 6,279.00 1,312.05 20.9%Total-CM-LM-SALARIES & BENEFITS17,625.55 17,493.00 132.55 191,105.26 198,477.00 (7,371.74) 217,070.00 25,964.74 12.0%632-CM-LM-SUPPLIES & MATERIALS6323778 Small Tools - 75.00 (75.00) 92.04 950.00 (857.96) 1,025.00 932.96 91.0%6323788 Uniforms 231.01 290.00 (58.99) 2,496.07 3,190.00 (693.93) 3,480.00 983.93 28.3%Total-CM-LM-SUPPLIES & MATERIALS231.01 365.00 (133.99) 2,588.11 4,140.00 (1,551.89) 4,505.00 1,916.89 42.6%632-CM-LM-REPAIRS & MAINTENANCE6325687 CM-LM-R&M-Drip Irrigation - 250.00 (250.00) 900.00 3,750.00 (2,850.00) 4,250.00 3,350.00 78.8%Total-CM-LM-REPAIRS & MAINTENANCE - 250.00 (250.00) 900.00 3,750.00 (2,850.00) 4,250.00 3,350.00 78.8%112,439.03 113,970.00 (1,530.97) 1,578,594.75 1,567,938.00 10,656.75 2,381,327.00 802,732.25 33.7% May Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget633-CM-WATER & ENERGY6337834 Utilities-Electricity-Pumping 14,795.89 21,017.00 (6,221.11) 137,448.62 156,781.00 (19,332.38) 178,291.00 40,842.38 22.9%6337842 Utilities-Water5,273.34 3,255.00 2,018.34 48,169.25 38,828.00 9,341.25 45,338.00 (2,831.25) -6.2%20,069.23 24,272.00 (4,202.77) 185,617.87 195,609.00 (9,991.13) 223,629.00 38,011.13 17.0%May 2014Annual BudgetMonth to Date Year to DateTotal-COURSE MAINTENANCESilverrock ResortCourse Maintenance Expense StatementSilverrock ResortCourse Maintenance Water & EnergyMay 2014Total-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 - 662.00 (662.00) 737.24 7,282.00 (6,544.76) 7,944.00 7,206.76 90.7%6411325 Insurance-Workers Comp 286.85 377.00 (90.15) 5,940.32 4,736.00 1,204.32 5,092.00 (848.32) -16.7%6411800 Taxes-Employer Payroll 1,651.51 1,169.00 482.51 15,485.04 14,700.00 785.04 15,809.00 323.96 2.0%6411880 Wages-Hourly 9,635.76 9,390.00 245.76 111,148.63 118,072.00 (6,923.37) 126,982.00 15,833.37 12.5%6411882 Wages-Overtime 124.69 - 124.69 1,457.27 - 1,457.27 - (1,457.27) 0.0%Total-CBR-SALARIES & BENEFITS11,698.81 11,598.00 100.81 134,768.50 144,790.00 (10,021.50) 155,827.00 21,058.50 13.5%641-CBR-SUPPLIES & MATERIALS6413732 Supplies-Carts - 50.00 (50.00) 889.46 1,800.00 (910.54) 1,850.00 960.54 51.9%6413742 Supplies-Expendable 487.62 500.00 (12.38) 8,985.20 6,250.00 2,735.20 6,750.00 (2,235.20) -33.1%6413748 Supplies-Fuel for Shuttle 236.07 200.00 36.07 2,941.06 2,900.00 41.06 3,000.00 58.94 2.0%6413752 Supplies-Range Balls - - - 9,170.00 9,000.00 170.00 9,000.00 (170.00) -1.9%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) 39.83 350.00 (310.17) 420.00 380.17 90.5%6413786 Supplies-Towels 400.00 250.00 150.00 3,599.50 2,110.00 1,489.50 2,182.00 (1,417.50) -65.0%6413796 Supplies-Bottled Water7,108.00 8,000.00 (892.00) 15,407.47 16,450.00 (1,042.53) 16,500.00 1,092.53 6.6%Total-CBR-SUPPLIES & MATERIALS8,231.69 9,120.00 (888.31) 41,032.52 39,335.00 1,697.52 40,227.00 (805.52) -2.0%641-CBR-REPAIRS & MAINTENANCE6415690 CBR-R&M-Equipment - 300.00 (300.00) 1,079.85 3,300.00 (2,220.15) 3,600.00 2,520.15 70.0%6415695 CBR-R&M-Cart Maintenance & Repair 326.54 500.00 (173.46) 2,631.23 5,950.00 (3,318.77) 6,450.00 3,818.77 59.2%Total-CBR-REPAIRS & MAINTENANCE 326.54 800.00 (473.46) 3,711.08 9,250.00 (5,538.92) 10,050.00 6,338.92 63.1%641-CBR-OTHER EXPENSES6419094 Contract Services-Laundry/Linen 614.70 800.00 (185.30) 8,349.02 8,800.00 (450.98) 9,600.00 1,250.98 13.0%6419220 Freight/Delivery - - - - 450.00 (450.00) 450.00 450.00 100.0%6419490 Miscellaneous 72.93 125.00 (52.07) 418.13 1,025.00 (606.87) 1,150.00 731.87 63.6%6419820 Uniforms 791.89 1,500.00 (708.11) 3,572.36 5,000.00 (1,427.64) 5,200.00 1,627.64 31.3%Total-CBR-OTHER EXPENSES 1,479.52 2,425.00 (945.48) 12,339.51 15,275.00 (2,935.49) 16,400.00 4,060.49 24.8%TOTAL-CARTS,BAGROOM & RANGE 21,736.56 23,943.00 (2,206.44) 191,851.61 208,650.00 (16,798.39) 222,504.00 30,652.39 13.8%643-CS-SALARIES & BENEFITS6431320 Insurance-Group - - - - - - - - 0.0%6431325 Insurance-Workers Comp 133.75 82.00 51.75 2,732.37 1,823.00 909.37 1,903.00 (829.37) -43.6%6431800 Taxes-Employer Payroll 1,032.13 230.00 802.13 6,704.39 5,113.00 1,591.39 5,339.00 (1,365.39) -25.6%6431880 Wages-Hourly 2,540.00 2,040.00 500.00 43,605.38 45,420.00 (1,814.62) 47,460.00 3,854.62 8.1%6431882 Wages-Overtime - - - - - - - - 0.0%Total-CS-SALARIES & BENEFITS3,705.88 2,352.00 1,353.88 53,042.14 52,356.00 686.14 54,702.00 1,659.86 3.0%643-CS-OTHER EXPENSES6433742 Supplies Expendable - 75.00 (75.00) 145.86 975.00 (829.14) 1,050.00 904.14 86.1%6439490 Miscellaneous - - - 268.33 200.00 68.33 200.00 (68.33) -34.2%6439718 Safety Equipment & Training - 50.00 (50.00) - 550.00 (550.00) 600.00 600.00 100.0%6439820 Uniforms 477.36 75.00 402.36 2,668.95 2,050.00 618.95 2,125.00 (543.95) -25.6%Total-CS-OTHER EXPENSES 477.36 200.00 277.36 3,083.14 3,775.00 (691.86) 3,975.00 891.86 22.4%Total-COURSE SERVICES 4,183.24 2,552.00 1,631.24 56,125.28 56,131.00 (5.72) 58,677.00 2,551.72 4.3%25,919.80 26,495.00 (575.20) 247,976.89 264,781.00 (16,804.11) 281,181.00 32,312.25 11.5%TOTAL OUTSIDE SERVICESMonth to Date Year to DateSilverRock ResortOutside Services Expense StatementMay 2014Annual Budget7 May Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense65-CH-SUPPLIES & MATERIALS6503742 Supplies-Expendable- 400.00 (400.00) 2,750.44 4,400.00 (1,649.56) 4,800.00 2,049.56 42.7%Total-CH-SUPPLIES & MATERIALS - 400.00 (400.00) 2,750.44 4,400.00 (1,649.56) 4,800.00 2,049.56 42.7%65-CH-UTILITIES6507836 Utilities-Natural Gas543.57 300.00 243.57 5,463.93 3,300.00 2,163.93 3,600.00 (1,863.93) -51.8%6507840 Utilities-Telephone1,382.03 1,150.00 232.03 15,343.60 12,650.00 2,693.60 13,800.00 (1,543.60) -11.2%6507842 Utilities-Water802.03 321.00 481.03 7,970.76 3,531.00 4,439.76 3,852.00 (4,118.76) -106.9%6507844 Utilities-Cable455.38 340.00 115.38 4,782.85 3,740.00 1,042.85 4,080.00 (702.85) -17.2%Total-CH-UTILITIES 3,183.01 2,111.00 1,072.01 33,561.14 23,221.00 10,340.14 25,332.00 (8,229.14) -32.5%65-CH-OTHER EXPENSES6509091 Contract Services-Cleaning1,825.00 1,825.00 - 20,405.00 20,675.00 (270.00) 22,500.00 2,095.00 9.3%6509099 Contract Services-Security4,895.70 4,900.00 (4.30) 57,241.77 55,500.00 1,741.77 60,400.00 3,158.23 5.2%6509215 Flowers & Decorations- - - 317.50 1,500.00 (1,182.50) 1,900.00 1,582.50 83.3%6509490 Miscellaneous- 200.00 (200.00) 788.26 2,200.00 (1,411.74) 2,400.00 1,611.74 67.2%6509718 Safety Equipment & Training- 100.00 (100.00) 386.04 1,100.00 (713.96) 1,200.00 813.96 67.8%Total-CH-OTHER EXPENSES 6,720.70 7,025.00 (304.30) 79,138.57 80,975.00 (1,836.43) 88,400.00 9,261.43 10.5%65-CH-REPAIRS & MAINTENANCE6515685 CH-R&M-Building Structures304.58 300.00 4.58 4,108.31 3,300.00 808.31 3,600.00 (508.31) -14.1%6515686 CH-R&M-Restaurant Repairs88.49 400.00 (311.51) 3,301.62 4,400.00 (1,098.38) 4,800.00 1,498.38 31.2%6515690 CH-R&M-Equipment Repair- 400.00 (400.00) 2,530.10 4,400.00 (1,869.90) 4,800.00 2,269.90 47.3%Total-CH-REPAIRS & MAINTENANCE 393.07 1,100.00 (706.93) 9,940.03 12,100.00 (2,159.97) 13,200.00 3,259.97 24.7%10,296.78 10,636.00 (339.22) 125,390.18 120,696.00 4,694.18 131,732.00 6,519.94 4.9%Total CLUBHOUSEMonth to Date Year to DateSilverRock ResortClubhouse Expense StatementMay 2014Annual Budget8 May Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense66-MKT-SALARIES & BENEFITS6601320 Insurance-Group 373.61 331.00 42.61 3,959.76 3,641.00 318.76 3,972.00 12.24 0.3%6601325 Insurance-Workers Comp 101.49 101.00 0.49 1,070.86 1,111.00 (40.14) 1,207.00 136.14 11.3%6601720 Salaries 2,081.91 2,508.00 (426.09) 24,751.06 27,588.00 (2,836.94) 30,096.00 5,344.94 17.8%6601800 Taxes-Employer Payroll 200.06 282.00 (81.94) 3,076.33 3,102.00 (25.67) 3,386.00 309.67 9.1%Total-MKT-SALARIES & BENEFITS 2,757.07 3,222.00 (464.93) 32,858.01 35,442.00 (2,583.99) 38,661.00 5,802.99 15.0%66-MKT-SUPPLIES & MATERIALS6603762 Supplies-Office 329.54 100.00 229.54 1,079.41 1,100.00 (20.59) 1,200.00 120.59 10.0%6603768 Supplies-Printing & Stationery - 125.00 (125.00) 5,920.43 4,300.00 1,620.43 4,425.00 (1,495.43) -33.8%329.54 225.00 104.54 6,999.84 5,400.00 1,599.84 5,625.00 (1,374.84) -24.4%66-MKT-UTILITIES6607840 Utilities-Telephone 58.08 100.00 (41.92) 635.89 1,100.00 (464.11) 1,200.00 564.11 47.0%Total-MKT-UTILITIES 58.08 100.00 (41.92) 635.89 1,100.00 (464.11) 1,200.00 564.11 47.0%66-MKT-OTHER EXPENSES6609010 Advertising 15,654.53 8,012.00 7,642.53 170,498.86 173,669.00 (3,170.14) 179,231.00 8,732.14 4.9%6609040 Business Meals - - - - - - 300.00 300.00 100.0%6609080 Collateral Material - 1,000.00 (1,000.00) 9,414.48 4,500.00 4,914.48 5,500.00 (3,914.48) -71.2%6609102 Contract Services-Web Page 396.00 150.00 246.00 1,089.00 1,650.00 (561.00) 1,800.00 711.00 39.5%6609490 Miscellaneous - 50.00 (50.00) 75.78 350.00 (274.22) 350.00 274.22 78.3%6609620 Postage - 50.00 (50.00) - 550.00 (550.00) 600.00 600.00 100.0%6609630 Promotion 258.45 25.00 233.45 258.45 275.00 (16.55) 2,000.00 1,741.55 0.0%6609633 Promotion-Community - 125.00 (125.00) 1,728.09 2,825.00 (1,096.91) 2,250.00 521.91 23.2%6609634 Promotion-Media/Vendor - - - 1,937.77 2,000.00 (62.23) 700.00 (1,237.77) -176.8%6609150 Dues and Subscriptions - - - 110.00 735.00 (625.00) 735.00 625.00 85.0%6609820 Uniforms - - - 1,085.34 600.00 485.34 600.00 (485.34) -80.9%Total-MKT-OTHER EXPENSES 16,308.98 9,412.00 6,896.98 186,197.77 187,154.00 (956.23) 194,066.00 7,868.23 4.1%19,453.67 12,959.00 6,494.67 226,691.51 229,096.00 (2,404.49) 239,552.00 12,860.49 5.4%Total-MARKETINGMonth to Date Year to DateSilverRock ResortMarketing Expense StatementMay 2014Annual Budget9 May Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense67-G&A-SALARIES & BENEFITS6701320 Insurance-Group1,332.83 1,458.00 (125.17) 16,559.28 16,038.00 521.28 17,496.00 936.72 5.4%6701325 Insurance-Workers Comp707.13 708.00 (0.87) 5,853.50 7,788.00 (1,934.50) 8,493.00 2,639.50 31.1%6701720 Salaries 15,769.60 15,050.00 719.60 162,648.15 165,550.00 (2,901.85) 183,961.00 21,312.85 11.6%6701800 Taxes-Employer Payroll 1,243.13 1,986.00 (742.87) 16,943.23 21,846.00 (4,902.77) 23,827.00 6,883.77 28.9%6701880 Wages-Hourly2,480.63 2,600.00 (119.37) 27,755.59 28,600.00 (844.41) 27,835.00 79.41 0.3%6701882 Wages-Overtime - - - - - - - - 0.0%Total-G&A-SALARIES & BENEFITS 21,533.32 21,802.00 (268.68) 229,759.75 239,822.00 (10,062.25) 261,612.00 31,852.25 12.2%67-G&A-SUPPLIES & MATERIALS6703740 Supplies-Computer4,037.16 500.00 3,537.16 6,409.32 5,500.00 909.32 6,300.00 (109.32) -1.7%6703762 Supplies-Office 310.15 150.00 160.15 1,564.41 1,650.00 (85.59) 1,800.00 235.59 13.1%6703768 Supplies-Printing & Stationery198.04 400.00 (201.96) 1,815.73 2,900.00 (1,084.27) 3,300.00 1,484.27 45.0%Total-G&A-SUPPLIES & MATERIALS 4,545.35 1,050.00 3,495.35 9,789.46 10,050.00 (260.54) 11,400.00 1,610.54 14.1%67-G&A-REPAIRS & MAINTENANCE6705690 Repairs & Maintenance-Equipment- 100.00 (100.00) 559.75 1,800.00 (1,240.25) 1,900.00 1,340.25 70.5%Total-G&A-REPAIRS & MAINTENANCE - 100.00 (100.00) 559.75 1,800.00 (1,240.25) 1,900.00 1,340.25 70.5%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 & Subscriptions495.00 500.00 (5.00) 1,312.00 1,650.00 (338.00) 1,700.00 388.00 22.8%6709180 Employee Recruiting/Relocation30.00 - 30.00 1,097.84 1,400.00 (302.16) 1,400.00 302.16 21.6%6709197 Equipment Rental516.72 550.00 (33.28) 6,409.04 6,050.00 359.04 6,600.00 190.96 2.9%6709202 Fees-Bank186.49 90.00 96.49 1,902.36 990.00 912.36 1,080.00 (822.36) -76.1%6709208 Fees-Payroll Processing1,197.47 1,200.00 (2.53) 14,716.43 13,200.00 1,516.43 14,400.00 (316.43) -2.2%6709220 Freight/Delivery- 50.00 (50.00) 58.71 550.00 (491.29) 600.00 541.29 90.2%6709490 Miscellaneous - 100.00 (100.00) 213.61 1,100.00 (886.39) 1,200.00 986.39 82.2%6709491 Loss/Damage- - - - - - - 0.0%6709620 Postage/Mail Services 111.25 75.00 36.25 1,180.00 825.00 355.00 900.00 (280.00) -31.1%6709625 Professional Fees461.25 850.00 (388.75) 11,384.73 9,350.00 2,034.73 10,200.00 (1,184.73) -11.6%6709636 Promotion/Entertainment- 100.00 (100.00) 2,880.00 1,100.00 1,780.00 1,200.00 (1,680.00) -140.0%6709722 Seminars & Training551.00 200.00 351.00 1,518.61 2,200.00 (681.39) 2,400.00 881.39 36.7%6709810 Travel - 500.00 (500.00) - 900.00 (900.00) 1,100.00 1,100.00 100.0%6709820 Uniforms - 75.00 (75.00) 682.17 975.00 (292.83) 1,050.00 367.83 35.0%Total-G&A-OTHER EXPENSES 3,949.18 4,690.00 (740.82) 47,755.50 44,690.00 3,065.50 48,630.00 874.50 1.8%30,027.85 27,642.00 2,385.85 287,864.46 296,362.00 (8,497.54) 323,542.00 35,677.54 11.0%Total-GENERAL & ADMINISTRATIVEMonth to Date Year to Date Annual BudgetSilverRock ResortGeneral & Administrative Expense StatementMay 201410 May Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense68-LEASES6800192 Equipment Leases-Carts 10,363.45 12,075.00 (1,711.55) 105,944.04 132,825.00 (26,880.96) 144,900.00 38,955.96 26.9%6800194 Equipment Leases-Trailer 452.61 600.00 (147.39) 5,831.32 6,600.00 (768.68) 7,200.00 1,368.68 19.0%6800196 Equipment Leases-GPS 4,480.00 5,755.00 (1,275.00) 52,549.60 63,305.00 (10,755.40) 69,060.00 16,510.40 23.9%6800197 Equipment Leases-Others 1,209.42 460.00 749.42 12,467.24 5,060.00 7,407.24 5,520.00 (6,947.24) 0.0%16,505.48 18,890.00 (2,384.52) 176,792.20 207,790.00 (30,997.80) 226,680.00 49,887.80 22.0%f69-MISC OTHER EXPENSES6900096 Contract Srvcs-Management Fee 8,000.00 8,000.00 - 88,000.00 88,000.00 - 96,000.00 8,000.00 8.3%6900210 FF&E Reserve 1,605.16 6,186.00 (4,580.84) 46,653.31 62,800.00 (16,146.69) 65,885.00 19,231.69 29.2%6900800 Personal Property Taxes - - - 8,285.36 14,800.00 (6,514.64) 14,800.00 6,514.64 44.0%6900323 Insurance-Commercial 3,080.27 2,200.00 880.27 34,853.06 24,200.00 10,653.06 26,400.00 (8,453.06) -32.0%12,685.43 16,386.00 (3,700.57) 177,791.73 189,800.00 (12,008.27) 203,085.00 25,293.27 12.5%Silverrock ResortOperating Leases & Miscellaneous Other Expense StatementMay 2014Annual BudgetMonth to Date Year to DateTotal-LEASESTotal-MISC OTHER EXPENSES11 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report-2013-20142013 2013 2013 2013 2013 2013Comp CategoryJulyAugustSeptemberOctoberNovemberDecemberMedia46 27SalesPromotion4Golf Industry44VIPCelebrityPGA Comp61 41 39 6 20 38Charity/Gift Certificate13 6 2 23 22Rain/Wind Checks642Club Staff90 42 36 16 41 75LQ HS Golf8 6 25 25 11 30180 105 108 47 101 1782014 2014 2014 2014 2014 2014Comp CategoryJanuaryFebruaryMarchAprilMayJuneMedia2414Sales2Promotion16 10Golf Industry36 4VIPCelebrityPGA Comp26 292656 10Charity/Gift Certificate523 7Rain/Wind Checks151111Club Staff75 517291 72LQ HS Golf9 126760134 103 175 259 100 012 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report-2012-2013May 2014 Date Time Description CategoryPlayers5/10/2014 11:45 Judd Spicer - Golf Writer Media 25/17/2014 6:52 Adam Godfried - Tee It Up Radio Media 413