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10 April 2015 SilverRock Resort - Monthly Financial Statement
Monthly Financial Statements July 2014 – April 2015 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 April Final Budget Variance Percentages Unfavorable (-) Favorable (+) Final Budget Variance Annual Budget Unemcumb. % Bdgt Income400000 Golf Green Fee Revenue359,623.98 463,400.00 (103,776.02) -22.4% 2,526,366.22 2,617,697.00 (91,330.78) 3,043,760.00 517,393.78 83%401000 Miscellaneous Golf Revenue45,790.00 23,420.00 22,370.00 95.5% 345,091.48 269,100.00 75,991.48 430,315.00 85,223.52 80%410000 Revenue-Golf Shop32,399.99 35,000.00 (2,600.01) -7.4% 199,098.57 214,281.00 (15,182.43) 258,680.00 59,581.43 77%420000 Revenue-F&B Concession500.00 500.00 - 0.0% 11,000.00 11,000.00 - 12,000.00 1,000.00 92%890000 Interest Income1.86 - 1.86 0.0%16.67 - 16.67 - (16.67) 0%Total Income438,315.83 522,320.00 (84,004.17) -16.1% 3,081,572.94 3,112,078.00 (30,505.06) 3,744,755.00 663,182.06 82%Cost of Goods Sold510000 COS-Golf Shop17,833.86 19,590.00 (1,756.14) 9.0% 115,362.12 119,931.98 4,569.86 144,783.40 29,421.28 80%Total COS17,833.86 19,590.00 (1,756.14) 9.0% 115,362.12 119,931.98 4,569.86 144,783.40 29,421.28 80%Gross Profit420,481.97 502,730.00 (82,248.03) -16.4% 2,966,210.82 2,992,146.02 (25,935.20) 3,599,971.60 633,760.78 82%Expenses610000 Golf Pro Shop 16,807.85 17,692.00 (884.15) 5.0% 153,391.73 165,398.00 (12,006.27) 204,190.00 50,798.27 75%630000 Course Maintenance120,962.32 121,313.00 (350.68) 0.3% 1,409,834.05 1,464,546.00 (54,711.95) 1,697,652.00 287,817.95 83%633000 Maintenance Water & Energy22,193.59 20,967.00 1,226.59 -5.9% 167,337.90 171,317.00 (3,979.10) 223,629.00 56,291.10 75%640000 Outside Services28,136.26 28,270.00 (133.74) 0.5% 241,399.31 247,893.00 (6,493.69) 285,234.00 43,834.69 85%650000 Clubhouse11,140.14 10,636.00 504.14 -4.7% 113,747.65 110,060.00 3,687.65 131,732.00 17,984.35 86%660000 Marketing26,182.74 22,774.00 3,408.74 -15.0% 205,950.55 216,363.00 (10,412.45) 239,875.00 33,924.45 86%670000 General & Administrative25,472.28 27,184.00 (1,711.72) 6.3% 257,615.60 265,312.00 (7,696.40) 320,052.00 62,436.40 80%680000 Leases20,615.71 22,550.00 (1,934.29) 8.6% 200,568.04 201,750.00 (1,181.96) 246,850.00 46,281.96 81%690000 Miscellaneous Other Expense18,345.19 19,468.00 (1,122.81) 5.8% 173,040.79 169,153.00 3,887.79 198,074.00 25,033.21 87%Total Expenses289,856.08 290,854.00 (997.92) 0.3% 2,922,885.62 3,011,792.00 88,906.38 3,547,288.00 624,402.38 82%130,625.89 211,876.00 (81,250.11) -38.3%43,325.20 (19,645.98) 62,971.18 52,683.60 9,358.40 0%Rounds of Golf PlayedPaid Rounds Played5,741 5,600 141 2.5%34,975 33,700 1,275 41,100 6,125 85%Ave $ Per Paid Round Green Fee62.64 82.75 (20.11) -24.3%72.23 77.68 (5.44) 74.06 1.82 98%Ave $ Per Paid Round Merchandise5.64 6.25 (0.61) -9.7%5.69 6.36 (0.67) 6.29 0.60 90%Ave $ Per Paid Miscellaneous 7.98 4.18 3.79 90.7%9.87 7.99 1.88 10.47 0.60 94%SilverRock ResortSummary Operating Income StatementNet IncomeMonth to DateYear to DateApril 20151 Income April Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4000000 Revenue-Fees359,623.98 463,400.00 (103,776.02) 2,526,366.22 2,617,697.00 (91,330.78) 3,043,760.00 517,393.78 17.0%4010000 Rider Fee 1,500.00 560.00 940.00 7,600.00 6,490.00 1,110.00 7,230.00 (370.00) -5.1%4040000 Club Rental3,944.00 2,800.00 1,144.00 21,462.00 16,850.00 4,612.00 20,550.00 (912.00) -4.4%4050000 Driving Range11,030.00 8,400.00 2,630.00 95,245.00 75,335.00 19,910.00 86,435.00 (8,810.00) -10.2%4060000 Handicap Fees- - - 2,753.00 2,500.00 253.00 2,500.00 (253.00) -10.1%4080000 GPS Advertising- 100.00 (100.00) - 2,600.00 (2,600.00) 2,600.00 2,600.00 100.0%4090000 Ball Retriever/Subcontract 891.00 1,000.00 (109.00) 3,208.60 4,000.00 (791.40) 4,000.00 791.40 19.8%4091000 Golf Professional Rental Fee 10,215.00 6,000.00 4,215.00 48,657.88 33,000.00 15,657.88 37,000.00 (11,657.88) -31.5%4092000 Golf Lessons- - - - - - - - 0.0%4093000 Resident Card Issue18,210.00 4,560.00 13,650.00 166,165.00 128,325.00 37,840.00 135,000.00 (31,165.00) -23.1% Total Revenue Fees405,413.98 486,820.00 (81,406.02) 2,871,457.70 2,886,797.00 (15,339.30) 3,339,075.00 467,617.30 14.0%405,413.98 486,820.00 (81,406.02) 2,871,457.70 2,886,797.00 (15,339.30) 3,339,075.00 467,617.30 14.0%SilverRock ResortStatement of Fees RevenueApril 2015Total IncomeMonth to DateYear to DateAnnual Budget2 RevenuesActual BudgetVariance$359,623.98 $463,400.00 (103,776.02)Unfavorable: Green fee revenue was lower than anticipated due to higher than expected temperatures in March and April that resulted in "snow birds" leaving earlier than expected.The impact of the Coachella Festivals in April are having a greater impact on golf each year. As a result, play was dependent upon local play which demands a lower green fee rate. This resulted in a lower average green rate which negatively impacted green fee revenue. In addition, Canadians were hit hard this winter by a significant drop in their currency (.94 cent to 1.28 in the last 2 years) which affected their buying/spending habits. Actual BudgetVariance$45,790.00 $23,420.0022,370.00Favorable: Due to additional Resident card sales and additional Golf Made Simple Academies in April 2015ExpensesActual BudgetVariance$26,182.74 $22,774.003,408.74Unfavorable: Additional cost for scorecards, tees, and rate cards as the Club purchased a larger quantity. Also, promotional items for the SilverRock Resident Tournament.MarketingMiscellaneous Golf RevenueVariance ExplanationApril 2015The explanation of variance from budget shown below provide details of variances by revenue and expensecategories of at least $1,000 that are greater than 10% of the budgeted amounts. Separate explanations areprovided for those cost of sales percentage that are greater than 5%.Golf Green Fee Revenue3 Income April Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% Budget4100000 Sales Miscellaneous 371.00 - 371.00 4,063.53 - 4,063.53 00 0%4100110 Sales Hard Goods 11,770.65 12,250.00 (479.35) 62,734.12 74,999.00 (12,264.88) 90,538.00 27,803.88 30.7%4100112 Sales-Soft Goods 24,093.00 22,750.00 1,343.00 161,748.50 139,282.00 22,466.50 168,142.00 6,393.50 3.8%5100639 GS-Discounts-Mdse (3,834.66) - (3,834.66) (29,447.58) - (29,447.58) - 29,447.58 0.0% Total Revenue Golf Shop32,399.99 35,000.00 (2,600.01) 199,098.57 214,281.00 (15,182.43) 258,680.00 63,644.96 24.6%COS 5100150 COS-GS-Hard Goods 6,484.77 7,105.00 (620.23) 39,177.02 43,499.42 (4,322.40) 52,512.04 13,335.02 25.4%5100151 COS-GS-Soft Goods 11,143.45 13,195.00 (2,051.55) 73,378.31 80,783.56 (7,405.25) 97,522.36 24,144.05 24.8%5100152 COS-GS-Purchase Disc (27.29) (1,015.00) 987.71 (252.44) (6,216.00) 5,963.56 (7,502.00) (7,249.56) 96.6%5100220 COS-GS-Freight Merch 232.93 305.00 (72.07) 3,059.23 1,865.00 1,194.23 2,251.00 (808.23) -35.9%Cost of Sales - Golf Shop17,833.86 19,590.00 (1,756.14) 115,362.12 119,931.98 (4,569.86) 144,783.40 29,421.28 20.3%Gross Profit14,566.13 15,410.00 (843.87) 83,736.45 94,349.02 (10,612.57) 113,896.60 34,223.68 30.0%COS %55.0% 56.0% 0.9% 57.9% 56.0% -2.0% 53.1% 46.2% 87.1%Expense61-PS-SALARIES & BENEFITS6101320 Insurance Group1,484.45 2,387.00 (902.55) 18,174.49 22,847.00 (4,672.51) 27,621.00 9,446.51 34.2%6101325 Insurance-Workers Comp 226.61 456.00 (229.39) 3,490.39 4,154.00 (663.61) 5,062.00 1,571.61 31.0%6101720 Salaries3,950.05 3,750.00 200.05 39,539.77 37,500.00 2,039.77 45,000.00 5,460.23 12.1%6101800 Taxes-Employer Payroll 1,376.16 1,581.00 (204.84) 13,340.79 14,413.00 (1,072.21) 17,562.00 4,221.21 24.0%6101880 Wages-Hourly9,640.99 8,408.00 1,232.99 68,553.81 73,344.00 (4,790.19) 90,070.00 21,516.19 23.9%6101882 Wages-Overtime118.97 - 118.97 533.28 - 533.28 - 952.88 0.0%Total -PS-SALARIES & BENEFITS 16,797.23 16,582.00 215.23 143,632.53 152,258.00 (8,625.47) 185,315.00 43,168.63 23.3%61-PS OTHER EXPENSES6103742 Supplies-Expendable- - - - - - - - 0.0%6103762 Supplies-Office- 250.00 (250.00) 1,319.61 2,500.00 (1,180.39) 3,000.00 1,680.39 56.0%6109220 Freight & Delivery- - - 652.32 75.00 577.32 75.00 (577.32) -769.8%6109490 Miscellaneous- 500.00 (500.00) 4,451.51 5,000.00 (548.49) 6,000.00 1,548.49 25.8%6109150 Dues and Subscriptions- - - - - - 2,300.00 2,300.00 100.0%6109500 ProShop-Over/Short10.62 - 10.62 47.45 - 47.45 - (47.45) 0.0%6109722 Seminars/Training- 35.00 (35.00) 407.20 2,405.00 (1,997.80) 3,690.00 3,282.80 89.0%6109810 Travel - Merchandise- 15.00 (15.00) - 60.00 (60.00) 90.00 90.00 100.0%6109820 Uniforms- 200.00 (200.00) 2,203.14 2,000.00 203.14 2,400.00 196.86 8.2%6117840 Telephones- 110.00 (110.00) 677.97 1,100.00 (422.03) 1,320.00 642.03 48.6%10.62 1,110.00 (1,099.38) 9,759.20 13,140.00 (3,380.80) 18,875.00 9,115.80 48.3%16,807.85 17,692.00 (884.15) 153,391.73 165,398.00 (12,006.27) 204,190.00 52,284.43 25.6%Net Income(2,241.72) (2,282.00) 40.28 (69,655.28) (71,048.98) 1,393.70 (90,293.40) (18,060.75) 20.0%SilverRock ResortGolf Shop Income StatementApril 2015Total Expenses-Golf ShopMonth to DateYear to DateAnnual Budget4 April Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense63-CM-SALARIES & BENEFITS6311320 Insurance-Group10,343.13 8,990.00 1,353.13 89,573.50 89,900.00 (326.50) 107,880.00 18,306.50 17.0%6311325 Insurance-Workers Comp2,486.07 2,065.00 421.07 25,963.49 20,592.00 5,371.49 24,794.00 (1,169.49) -4.7%6311720 Salaries10,620.80 11,001.60 (380.80) 110,476.94 110,016.00 460.94 132,019.20 21,542.26 16.3%6311800 Taxes-Employer Payroll5,789.57 7,158.00 (1,368.43) 53,276.38 71,949.00 (18,672.62) 86,638.00 33,361.62 38.5%6311880 Wages-Hourly41,679.31 44,059.40 (2,380.09) 417,103.94 430,360.00 (13,256.06) 518,478.80 101,374.86 19.6%6311882 Wages-Overtime20.63 - 20.63 8,745.08 13,076.00 (4,330.92) 15,945.00 7,199.92 45.2%Total-CM-SALARIES & BENEFITS70,939.51 73,274.00 (2,334.49) 705,139.33 735,893.00 (30,753.67) 885,755.00 180,615.67 20.4%63-CM-SUPPLIES & MATERIALS6313734 Chemicals6,205.60 2,000.00 4,205.60 37,993.15 31,700.00 6,293.15 34,600.00 (3,393.15) -9.8%6313744 Fertilizer5,140.80 5,000.00 140.80 99,919.79 102,500.00 (2,580.21) 112,500.00 12,580.21 11.2%6313745 Herbicides- - - 23,416.62 17,000.00 6,416.62 17,000.00 (6,416.62) -37.7%6313746 Flowers/Plants- 100.00 (100.00) 481.38 3,050.00 (2,568.62) 3,050.00 2,568.62 84.2%6313748 Fuel-Gasoline3,687.88 4,100.00 (412.12) 40,483.68 48,820.00 (8,336.32) 55,020.00 14,536.32 26.4%6313750 Golf Course Accessories124.20 100.00 24.20 14,076.37 12,800.00 1,276.37 13,000.00 (1,076.37) -8.3%6313756 POA Control- - - 3,489.91 7,000.00 (3,510.09) 7,000.00 3,510.09 50.1%6313758 Miscellaneous Supp1,109.93 100.00 1,009.93 10,161.18 4,150.00 6,011.18 4,350.00 (5,811.18) -133.6%6313762 Supplies-Office- - - - - - - - 0.0%6313774 Sand- 100.00 (100.00) 5,348.30 13,260.00 (7,911.70) 13,460.00 8,111.70 60.3%6313776 Seed- 350.00 (350.00) 132,291.96 125,200.00 7,091.96 125,900.00 (6,391.96) -5.1%6313778 Small Tools & Non-Capital Equip 1,756.30 100.00 1,656.30 6,397.89 4,800.00 1,597.89 5,000.00 (1,397.89) -28.0%6313780 Sod- - - 4,473.08 9,750.00 (5,276.92) 10,450.00 5,976.92 57.2%6313782 Topdressing- - - 768.75 8,000.00 (7,231.25) 10,600.00 9,831.25 92.7%Total-CM-SUPPLIES & MATERIALS18,024.71 11,950.00 6,074.71 379,302.06 388,030.00 (8,727.94) 411,930.00 32,627.94 7.9%63-CM-REPAIRS & MAINTENANCE6315095 CM-R&M-Contract Lake Maint 2,830.00 2,600.00 230.00 28,300.00 26,000.00 2,300.00 31,200.00 2,900.00 9.3%6315685 CM-R&M-Bldngs & Othr Structures 342.50 250.00 92.50 5,823.24 5,050.00 773.24 5,550.00 (273.24) -4.9%6315690 CM-R&M-Equipment2,723.91 2,500.00 223.91 39,629.00 35,500.00 4,129.00 40,000.00 371.00 0.9%6315692 CM-R&M-Irrigation System1,153.56 1,000.00 153.56 14,295.56 17,050.00 (2,754.44) 19,050.00 4,754.44 25.0%6315696 CM-R&M-Pumps1,924.33 1,000.00 924.33 13,587.94 10,000.00 3,587.94 10,500.00 (3,087.94) -29.4%6315815 CM-R&M-Trees-Pruning Etc4,000.00 4,000.00 - 9,770.00 12,050.00 (2,280.00) 12,050.00 2,280.00 18.9%Total-CM-REPAIRS & MAINTENANCE12,974.30 11,350.00 1,624.30 111,405.74 105,650.00 5,755.74 118,350.00 6,944.26 5.9%6317836 Utilities-Natural Gas/LPG- 15.00 (15.00) 214.14 150.00 64.14 180.00 (34.14) 0.0%6317840 Telephones- 850.00 (850.00) 9,766.71 8,500.00 1,266.71 10,200.00 433.29 4.2%Total-CM-UTILITIES- 865.00 (865.00) 9,980.85 8,650.00 1,330.85 10,380.00 399.15 3.8%63-CM-OTHER EXPENSES6319020 Auto Mileage/Allowance500.00 500.00 - 5,000.00 5,000.00 - 6,000.00 1,000.00 16.7%6319100 Contract Svcs-Soil/Tissue Test- - - 2,000.00 2,000.00 - 4,000.00 2,000.00 50.0%6319102 Contract Svcs-Trash Removal752.46 524.00 228.46 7,524.60 5,240.00 2,284.60 6,288.00 (1,236.60) -19.7%6319150 Dues & Subscriptions- 200.00 (200.00) 1,336.20 440.00 896.20 540.00 (796.20) -147.4%6319170 Employee Education- 50.00 (50.00) 392.60 1,450.00 (1,057.40) 1,550.00 1,157.40 74.7%6319197 Equipment Rental- 200.00 (200.00) 915.57 3,100.00 (2,184.43) 3,400.00 2,484.43 73.1%6319206 Licenses & Permits2,017.00 2,900.00 (883.00) 2,504.86 4,180.00 (1,675.14) 4,180.00 1,675.14 40.1%6319490 Miscellaneous- 100.00 (100.00) 2,187.92 1,000.00 1,187.92 1,200.00 (987.92) -82.3%6319718 Safety Equipment & Training201.92 100.00 101.92 5,425.10 3,650.00 1,775.10 3,850.00 (1,575.10) -40.9%6319822 Uniforms1,103.85 920.00 183.85 9,051.68 9,200.00 (148.32) 11,040.00 1,988.32 18.0%Total-CM-OTHER EXPENSES4,575.23 5,494.00 (918.77) 36,338.53 35,260.00 1,078.53 42,048.00 5,709.47 13.6%Month to DateYear to DateSilverRock ResortCourse Maintenance Expense StatementApril 2015Annual Budget5 April Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget632-CM-LANDSCAPE MAINTENANCE632-CM-LM-SALARIES & BENEFITS6321320 Insurance-Group 679.35 2,728.00 (2,048.65) 19,096.85 27,280.00 (8,183.15) 32,736.00 13,639.15 41.7%6321325 Insurance-Workers Comp616.52 483.00 133.52 4,717.62 4,963.00 (245.38) 5,953.00 1,235.38 20.8%6321800 Taxes-Employer Payroll1,249.40 1,674.00 (424.60) 14,105.55 17,432.00 (3,326.45) 20,906.00 6,800.45 32.5%6321880 Wages-Hourly11,680.00 12,880.00 (1,200.00) 124,694.20 128,800.00 (4,105.80) 154,560.00 29,865.80 19.3%6321882 Wages-Overtime- - - 2,609.09 5,313.00 (2,703.91) 6,279.00 3,669.91 58.4%Total-CM-LM-SALARIES & BENEFITS14,225.27 17,765.00 (3,539.73) 165,223.31 183,788.00 (18,564.69) 220,434.00 55,210.69 25.0%632-CM-LM-SUPPLIES & MATERIALS6323778 Small Tools - 75.00 (75.00) - 875.00 (875.00) 1,025.00 1,025.00 100.0%6323788 Uniforms223.30 290.00 (66.70) 2,027.93 2,900.00 (872.07) 3,480.00 1,452.07 41.7%Total-CM-LM-SUPPLIES & MATERIALS223.30 365.00 (141.70) 2,027.93 3,775.00 (1,747.07) 4,505.00 2,477.07 55.0%632-CM-LM-REPAIRS & MAINTENANCE6325687 CM-LM-R&M-Drip Irrigation - 250.00 (250.00) 416.30 3,500.00 (3,083.70) 4,250.00 3,833.70 90.2%Total-CM-LM-REPAIRS & MAINTENANCE- 250.00 (250.00) 416.30 3,500.00 (3,083.70) 4,250.00 3,833.70 90.2%120,962.32 121,313.00 (350.68) 1,409,834.05 1,464,546.00 (54,711.95) 1,697,652.00 287,817.95 17.0% April Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%Budget633-CM-WATER & ENERGY6337834 Utilities-Electricity-Pumping 18,918.60 19,417.00 (498.40) 129,395.88 135,744.00 (6,348.12) 178,291.00 48,895.12 27.4%6337842 Utilities-Water3,274.99 1,550.00 1,724.99 37,942.02 35,573.00 2,369.02 45,338.00 7,395.98 16.3%22,193.59 20,967.00 1,226.59 167,337.90 171,317.00 (3,979.10) 223,629.00 56,291.10 25.2%Total-COURSE MAINTENANCECourse Maintenance Expense StatementApril 2015Silverrock ResortAnnual BudgetMonth to DateYear to DateSilverrock ResortCourse Maintenance Water & EnergyApril 2015Total-CM-WATER & ENERGYMonth to DateYear to DateAnnual Budget6 April Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense641-CBR-SALARIES & BENEFITS6411320 Insurance-Group- 682.00 (682.00) - 6,820.00 (6,820.00) 8,184.00 8,184.00 100.0%6411325 Insurance-Workers Comp299.47 564.00 (264.53) 3,537.13 4,234.00 (696.87) 4,976.00 1,438.87 28.9%6411800 Taxes-Employer Payroll1,980.18 1,871.00 109.18 14,861.42 14,049.00 812.42 16,514.00 1,652.58 10.0%6411880 Wages-Hourly14,399.40 15,030.00 (630.60) 111,542.20 112,855.00 (1,312.80) 132,655.00 21,112.80 15.9%6411882 Wages-Overtime 300.60 - 300.60 1,775.92 - 1,775.92 - (1,775.92) 0.0%Total-CBR-SALARIES & BENEFITS16,979.65 18,147.00 (1,167.35) 131,716.67 137,958.00 (6,241.33) 162,329.00 30,612.33 18.9%641-CBR-SUPPLIES & MATERIALS6413732 Supplies-Carts651.72 50.00 601.72 1,651.72 1,750.00 (98.28) 1,850.00 `0.0%6413742 Supplies-Expendable543.78 150.00 393.78 6,366.83 5,750.00 616.83 6,750.00 383.17 5.7%6413748 Supplies-Fuel for Shuttle- 450.00 (450.00) 199.45 2,700.00 (2,500.55) 3,000.00 2,800.55 93.4%6413752 Supplies-Range Balls- - - 10,200.00 9,000.00 1,200.00 9,000.00 (1,200.00) -13.3%6413762 Supplies-Office- 50.00 (50.00) 222.65 425.00 (202.35) 525.00 302.35 57.6%6413768 Supplies-Printing and Stationary- 70.00 (70.00) - 280.00 (280.00) 420.00 420.00 100.0%6413786 Supplies-Towels 240.00 250.00 (10.00) 2,676.00 1,860.00 816.00 2,182.00 (494.00) -22.6%6413796 Supplies-Bottled Water188.00 50.00 138.00 9,221.86 8,450.00 771.86 8,550.00 (671.86) -7.9%Total-CBR-SUPPLIES & MATERIALS1,623.50 1,070.00 553.50 30,538.51 30,215.00 323.51 32,277.00 1,540.21 4.8%641-CBR-REPAIRS & MAINTENANCE6415690 CBR-R&M-Equipment1,102.92 300.00 802.92 4,188.50 3,000.00 1,188.50 3,600.00 (588.50) -16.3%6415695 CBR-R&M-Cart Maintenance & Repair 500.00 500.00 - 8,430.26 5,450.00 2,980.26 6,450.00 (1,980.26) -30.7%Total-CBR-REPAIRS & MAINTENANCE1,602.92 800.00 802.92 12,618.76 8,450.00 4,168.76 10,050.00 (2,568.76) -25.6%641-CBR-OTHER EXPENSES6419094 Contract Services-Laundry/Linen612.51 800.00 (187.49) 5,941.45 8,000.00 (2,058.55) 9,600.00 3,658.55 38.1%6419220 Freight/Delivery- - - - 450.00 (450.00) 450.00 450.00 100.0%6419490 Miscellaneous253.67 125.00 128.67 4,666.70 900.00 3,766.70 1,150.00 (3,516.70) -305.8%6419820 Uniforms - - - 2,589.41 3,500.00 (910.59) 5,200.00 2,610.59 50.2%Total-CBR-OTHER EXPENSES866.18 925.00 (58.82) 13,197.56 12,850.00 347.56 16,400.00 3,202.44 19.5%TOTAL-CARTS,BAGROOM & RANGE21,072.25 20,942.00 (58.82) 188,071.50 189,473.00 (1,401.50) 221,056.00 32,786.22 14.8%643-CS-SALARIES & BENEFITS6431320 Insurance-Group- - - - - - - - 0.0%6431325 Insurance-Workers Comp246.37 218.00 28.37 1,743.23 1,761.00 (17.77) 1,933.00 189.77 9.8%6431800 Taxes-Employer Payroll879.89 755.00 124.89 5,638.05 6,107.00 (468.95) 6,703.00 1,064.95 15.9%6431880 Wages-Hourly5,937.75 5,805.00 132.75 44,309.75 46,977.00 (2,667.25) 51,567.00 7,257.25 14.1%6431882 Wages-Overtime - - - - - - - - 0.0%Total-CS-SALARIES & BENEFITS7,064.01 6,778.00 286.01 51,691.03 54,845.00 (3,153.97) 60,203.00 8,511.97 14.1%643-CS-OTHER EXPENSES6433742 Supplies Expendable- 100.00 (100.00) - 900.00 (900.00) 1,050.00 1,050.00 100.0%6439490 Miscellaneous- - - 127.00 200.00 (73.00) 200.00 73.00 36.5%6439718 Safety Equipment & Training- 50.00 (50.00) 386.66 500.00 (113.34) 600.00 213.34 35.6%6439820 Uniforms - 400.00 (400.00) 1,123.12 1,975.00 (851.88) 2,125.00 1,001.88 47.1%Total-CS-OTHER EXPENSES- 550.00 (550.00) 1,636.78 3,575.00 (1,938.22) 3,975.00 2,338.22 58.8%Total-COURSE SERVICES7,064.01 7,328.00 (263.99) 53,327.81 58,420.00 (5,092.19) 64,178.00 10,850.19 16.9%28,136.26 28,270.00 (133.74) 241,399.31 247,893.00 (6,493.69) 285,234.00 41,298.19 14.5%TOTAL OUTSIDE SERVICESMonth to DateYear to DateSilverRock ResortOutside Services Expense StatementApril 2015Annual Budget7 April Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.%BudgetExpense65-CH-SUPPLIES & MATERIALS6503742 Supplies-Expendable 400.00 400.00 - 4,393.50 4,000.00 393.50 4,800.00 406.50 8.5%Total-CH-SUPPLIES & MATERIALS400.00 400.00 - 4,393.50 4,000.00 393.50 4,800.00 406.50 8.5%65-CH-UTILITIES6507836 Utilities-Natural Gas485.12 300.00 185.12 3,910.43 3,000.00 910.43 3,600.00 (310.43) -8.6%6507840 Utilities-Telephone1,196.03 1,150.00 46.03 10,365.66 11,500.00 (1,134.34) 13,800.00 3,434.34 24.9%6507842 Utilities-Water884.55 321.00 563.55 6,926.44 3,210.00 3,716.44 3,852.00 (3,074.44) -79.8%6507844 Utilities-Cable 457.31 340.00 117.31 4,596.85 3,400.00 1,196.85 4,080.00 (516.85) -12.7%Total-CH-UTILITIES3,023.01 2,111.00 912.01 25,799.38 21,110.00 4,689.38 25,332.00 (467.38) -1.8%65-CH-OTHER EXPENSES6509091 Contract Services-Cleaning 1,900.00 1,825.00 75.00 19,273.50 18,850.00 423.50 22,500.00 3,226.50 14.3%6509099 Contract Services-Security4,967.04 4,900.00 67.04 52,464.71 50,600.00 1,864.71 60,400.00 7,935.29 13.1%6509215 Flowers & Decorations63.73 - 63.73 63.73 1,500.00 (1,436.27) 1,900.00 1,836.27 96.6%6509490 Miscellaneous- 200.00 (200.00) 388.51 2,000.00 (1,611.49) 2,400.00 2,011.49 83.8%6509718 Safety Equipment & Training- 100.00 (100.00) 347.52 1,000.00 (652.48) 1,200.00 852.48 71.0%Total-CH-OTHER EXPENSES6,930.77 7,025.00 (94.23) 72,537.97 73,950.00 (1,412.03) 88,400.00 15,862.03 17.9%65-CH-REPAIRS & MAINTENANCE6515685 CH-R&M-Building Structures319.00 300.00 19.00 3,468.22 3,000.00 468.22 3,600.00 131.78 3.7%6515686 CH-R&M-Restaurant Repairs272.36 400.00 (127.64) 1,179.59 4,000.00 (2,820.41) 4,800.00 3,620.41 75.4%6515690 CH-R&M-Equipment Repair195.00 400.00 (205.00) 6,368.99 4,000.00 2,368.99 4,800.00 (1,568.99) -32.7%Total-CH-REPAIRS & MAINTENANCE786.36 1,100.00 (313.64) 11,016.80 11,000.00 16.80 13,200.00 2,183.20 16.5%11,140.14 10,636.00 504.14 113,747.65 110,060.00 3,687.65 131,732.00 4,366.40 3.3%Total CLUBHOUSEMonth to DateYear to DateSilverRock ResortClubhouse Expense StatementApril 2015Annual Budget8 April Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense66-MKT-SALARIES & BENEFITS6601320 Insurance-Group - 341.00 (341.00) 2,820.44 3,410.00 (589.56) 4,092.00 1,271.56 31.1%6601325 Insurance-Workers Comp88.00 94.00 (6.00) 852.16 940.00 (87.84) 1,128.00 275.84 24.5%6601720 Salaries1,904.70 2,508.00 (603.30) 20,955.43 25,080.00 (4,124.57) 30,096.00 9,140.57 30.4%6601800 Taxes-Employer Payroll145.72 326.00 (180.28) 1,599.51 3,260.00 (1,660.49) 3,912.00 2,312.49 59.1%Total-MKT-SALARIES & BENEFITS2,138.42 3,269.00 (1,130.58) 26,227.54 32,690.00 (6,462.46) 39,228.00 13,000.46 33.1%66-MKT-SUPPLIES & MATERIALS6603762 Supplies-Office 339.00 100.00 239.00 952.90 1,000.00 (47.10) 1,200.00 247.10 20.6%6603768 Supplies-Printing & Stationery 540.84 125.00 415.84 9,680.16 4,175.00 5,505.16 4,425.00 (5,255.16) -118.8%879.84 225.00 654.84 10,633.06 5,175.00 5,458.06 5,625.00 (5,008.06) -89.0%66-MKT-UTILITIES6607840 Utilities-Telephone 58.08 100.00 (41.92) 852.77 1,000.00 (147.23) 1,200.00 347.23 28.9%Total-MKT-UTILITIES58.08 100.00 (41.92) 852.77 1,000.00 (147.23) 1,200.00 347.23 28.9%66-MKT-OTHER EXPENSES6609010 Advertising18,626.85 18,230.00 396.85 154,506.83 165,413.00 (10,906.17) 178,987.00 24,480.17 13.7%6609040 Business Meals- 25.00 (25.00) - 250.00 (250.00) 300.00 300.00 100.0%6609080 Collateral Material3,296.46 500.00 2,796.46 8,244.80 3,500.00 4,744.80 5,500.00 (2,744.80) -49.9%6609102 Contract Services-Web Page99.00 150.00 (51.00) 693.00 1,500.00 (807.00) 1,800.00 1,107.00 61.5%6609490 Miscellaneous- 50.00 (50.00) 35.63 300.00 (264.37) 350.00 314.37 89.8%6609620 Postage- 50.00 (50.00) - 500.00 (500.00) 600.00 600.00 100.0%6609630 Promotion218.93 50.00 168.93 218.93 600.00 (381.07) 700.00 481.07 68.7%6609633 Promotion-Community865.16 75.00 790.16 1,698.87 2,100.00 (401.13) 2,250.00 551.13 24.5%6609634 Promotion-Media/Vendor- - - 2,000.00 2,000.00 - 2,000.00 - 0.0%6609150 Dues and Subscriptions- - - 420.70 735.00 (314.30) 735.00 314.30 42.8%6609820 Uniforms- 50.00 (50.00) 418.42 600.00 (181.58) 600.00 181.58 30.3%Total-MKT-OTHER EXPENSES23,106.40 19,180.00 3,926.40 168,237.18 177,498.00 (9,260.82) 193,822.00 25,584.82 13.2%26,182.74 22,774.00 3,408.74 205,950.55 216,363.00 (10,412.45) 239,875.00 33,924.45 14.1%Total-MARKETINGMonth to DateYear to DateSilverRock ResortMarketing Expense StatementApril 2015Annual Budget9 April Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense67-G&A-SALARIES & BENEFITS6701320 Insurance-Group1,392.20 1,488.00 (95.80) 13,754.24 14,880.00 (1,125.76) 17,856.00 4,101.76 23.0%6701325 Insurance-Workers Comp819.75 662.00 157.75 6,909.35 6,394.00 515.35 7,718.00 808.65 10.5%6701720 Salaries14,421.00 14,833.34 (412.34) 142,233.21 148,333.40 (6,100.19) 178,000.00 35,766.79 20.1%6701800 Taxes-Employer Payroll2,058.88 2,294.00 (235.12) 14,918.77 22,238.00 (7,319.23) 26,748.00 11,829.23 44.2%6701880 Wages-Hourly2,035.00 2,816.66 (781.66) 22,557.03 22,766.60 (209.57) 27,800.00 5,242.97 18.9%6701882 Wages-Overtime- - - - - - - - 0.0%Total-G&A-SALARIES & BENEFITS20,726.83 22,094.00 (1,367.17) 200,372.60 214,612.00 (14,239.40) 258,122.00 57,749.40 22.4%67-G&A-SUPPLIES & MATERIALS6703740 Supplies-Computer429.50 500.00 (70.50) 7,149.40 5,000.00 2,149.40 6,300.00 (849.40) -13.5%6703762 Supplies-Office98.20 150.00 (51.80) 1,038.78 1,500.00 (461.22) 1,800.00 761.22 42.3%6703768 Supplies-Printing & Stationery729.41 400.00 329.41 1,845.86 2,500.00 (654.14) 3,300.00 1,454.14 44.1%Total-G&A-SUPPLIES & MATERIALS1,257.11 1,050.00 207.11 10,034.04 9,000.00 1,034.04 11,400.00 1,365.96 12.0%67-G&A-REPAIRS & MAINTENANCE6705690 Repairs & Maintenance-Equipment- 100.00 (100.00) 1,649.82 1,700.00 (50.18) 1,900.00 250.18 13.2%Total-G&A-REPAIRS & MAINTENANCE- 100.00 (100.00) 1,649.82 1,700.00 (50.18) 1,900.00 250.18 13.2%67-G&A-OTHER EXPENSES6709020 Auto/Mileage Allowance400.00 400.00 - 4,000.00 4,000.00 - 4,800.00 800.00 16.7%6709150 Dues & Subscriptions- 50.00 (50.00) 302.00 1,150.00 (848.00) 1,700.00 1,398.00 82.2%6709180 Employee Recruiting/Relocation- - - 1,363.78 1,400.00 (36.22) 1,400.00 36.22 2.6%6709197 Equipment Rental671.16 550.00 121.16 6,033.72 5,500.00 533.72 6,600.00 566.28 8.6%6709202 Fees-Bank334.60 90.00 244.60 2,047.94 900.00 1,147.94 1,080.00 (967.94) -89.6%6709208 Fees-Payroll Processing1,122.33 1,200.00 (77.67) 12,519.11 12,000.00 519.11 14,400.00 1,880.89 13.1%6709220 Freight/Delivery- 50.00 (50.00) - 500.00 (500.00) 600.00 600.00 100.0%6709490 Miscellaneous- 100.00 (100.00) 670.78 1,000.00 (329.22) 1,200.00 529.22 44.1%6709491 Loss/Damage- - - 182.27 - 182.27 (182.27) 0.0%6709620 Postage/Mail Services209.25 75.00 134.25 1,118.75 750.00 368.75 900.00 (218.75) -24.3%6709625 Professional Fees751.00 850.00 (99.00) 11,895.75 8,500.00 3,395.75 10,200.00 (1,695.75) -16.6%6709636 Promotion/Entertainment- 100.00 (100.00) 2,500.00 1,000.00 1,500.00 1,200.00 (1,300.00) -108.3%6709722 Seminars & Training- 200.00 (200.00) 947.20 2,000.00 (1,052.80) 2,400.00 1,452.80 60.5%6709810 Travel- 200.00 (200.00) 647.20 400.00 247.20 1,100.00 452.80 41.2%training expe Uniforms- 75.00 900.00 1,330.64 900.00 430.64 1,050.00 (280.64) -26.7%Total-G&A-OTHER EXPENSES3,488.34 3,940.00 523.34 45,559.14 40,000.00 5,559.14 48,630.00 3,070.86 6.3%25,472.28 27,184.00 (1,711.72) 257,615.60 265,312.00 (7,696.40) 320,052.00 62,436.40 19.5%Total-GENERAL & ADMINISTRATIVEMonth to DateYear to DateSilverRock ResortGeneral & Administrative Expense StatementApril 2015Annual Budget10 April Final Budget Variance Final Budget Variance Annual BudgetUnemcumb.% BudgetExpense68-LEASES6800192 Equipment Leases-Carts10,363.45 10,050.00 313.45 99,634.50 100,950.00 (1,315.50) 121,050.00 21,415.50 17.7%6800193 Equipment Leases-Maintenance 5,571.50 6,050.00 (478.50) 39,243.43 36,300.00 2,943.43 48,400.00 9,156.57 18.9%6800194 Equipment Leases-Trailer275.61 600.00 (324.39) 4,989.13 6,000.00 (1,010.87) 7,200.00 2,210.87 30.7%6800196 Equipment Leases-GPS3,110.00 4,700.00 (1,590.00) 42,001.00 47,000.00 (4,999.00) 56,400.00 14,399.00 25.5%6800197 Equipment Leases-Others1,295.15 1,150.00 145.15 14,699.98 11,500.00 3,199.98 13,800.00 (899.98) 0.0%20,615.71 22,550.00 (1,934.29) 200,568.04 201,750.00 (1,181.96) 246,850.00 46,281.96 18.7%69-MISC OTHER EXPENSES6900096 Contract Srvcs-Management Fee 8,000.00 8,000.00 - 80,000.00 80,000.00 - 96,000.00 16,000.00 16.7%6900210 FF&E Reserve7,192.48 9,268.00 (2,075.52) 50,527.35 52,353.00 (1,825.65) 60,874.00 10,346.65 17.0%6900800 Personal Property Taxes- - - 9,584.24 14,800.00 (5,215.76) 14,800.00 5,215.76 35.2%6900323 Insurance-Commercial3,152.71 2,200.00 952.71 32,929.20 22,000.00 10,929.20 26,400.00 (6,529.20) -24.7%18,345.19 19,468.00 (1,122.81) 173,040.79 169,153.00 3,887.79 198,074.00 25,033.21 12.6%*Total-LEASESTotal-MISC OTHER EXPENSESSilverrock ResortOperating Leases & Miscellaneous Other Expense StatementApril 2015Annual BudgetMonth to DateYear to Date11 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report‐2014‐20152014 2014 2014 2014 2014 2014Comp CategoryJulyAugustSeptemberOctoberNovemberDecemberMedia4SalesPromotionGolf IndustryVIPCelebrityPGA Comp9893726Charity/Gift Certificate422Rain/Wind Checks12247Club Staff728360854102LQ HS Golf21010611841058113711722015 2015 2015 2015 2015 2015Comp CategoryJanuaryFebruaryMarchAprilMayJuneMedia78SalesPromotion4Golf Industry4VIPCelebrityPGA Comp20252219Charity/Gift Certificate48612Rain/Wind Checks5822Club Staff90869085LQ HS Golf40104 203 214166 239 331 3320012 SilverRock Resort-Arnold Palmer Classic CourseComp Golf Report‐2012‐2013April 2015 Date Time DescriptionCategoryPlayers4/1/2015 1:30:00 PM Stephan Gurtler / Golfweek Panelist Media 14//7/2015 11:00:00 AM Southland Golf Media 44/8/2015 9:30:00 AM Kris Long / CBS2 anchor Media 413