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Annual Plan FY 2008-2009 SilverRock ResortAGENDA CATEGORY: BUSINESS SESSION: COUNCILIRDA MEETING DATE: April 15, 2008 CONSENT CALENDAR: ITEM TITLE: Consideration of the SilverRock Resort STUDY SESSION: _ 2008/2009 Annual Plan PUBLIC HEARING: RECOMMENDATION: As deemed appropriate by the City Council. FISCAL IMPLICATIONS: The 2008/2009 Annual Business Plan (Attachment 1) as drafted for SilverRock Resort projects operating expenses of $4,099,379 and revenues. of $3,756,926 for an operating deficit of $342,453. As a result of the Food and Beverage License Agreement between the City and Landmark Golf Management, LLC, the food and beverage revenue and expenses are not recognized in the 2008/2009 Annual Plan. Instead, food and beverage revenues and expenses, which are equal, will be accounted for through the Food and Beverage License Agreement. As a component of the Annual Plan, the operator is recommending Capital Purchase Expenditures of $17,200 and supplemental 2009 Bob Hope Chrysler Classic Tournament expenses (personnel, materials, and equipment) in the amount of $116,888. If these additional costs are approved, the operating deficit will be $476,541. Staff proposes an advance of $476,541 from General Fund reserves to the SilverRock Resort Golf Enterprise Fund to fund this operating deficit. In addition, staff is finalizing the Fiscal Year 2007/2008 revenue and expenditure projections and will be reporting on such at the June 17, 2008 City Council meeting. In addition to the expenses contained in the operators' annual plan and the supplemental expenses for the Bob Hope Tournament, the Fiscal Year 2008/2009 Preliminary Budget will include additional expenses in operating the golf course outside of the Landmark Golf contract. These additional expenses will include the $100,000 annual payment to the Bob Hope Chrysler Classic per the agreement and $30,250 for communications and electrical work. The proposed Fiscal Year 2003/2009 budget for all operating costs at SilverRock Resort totals $4,291,679. s 189 The golf course will be closed for a total of seven (7) days for the 2009 Bob Hope Chrysler Classic. The loss of seven days has been factored into the 2008/2009 Annual Plan for SilverRock Resort with an estimated loss of $150,000 in revenue and 1,500 rounds of golf. Any additional days of course closure will further impact the revenue budget for the month of January 2009. In the PGA's follow-up report for the 2008 Bob Hope Chrysler Classic, the PGA highly recommended that the Classic Club and SilverRock Resort golf course be closed for public play two (2) weeks prior to the beginning of the golf tournament and restricted play for the public one month before the tournament. This recommendation is to reduce the ball marks and divots on the course before the event. Staff and golf course operator believe that the play can be reduced prior to the event and the tee markers and pin placements be adjusted to reduce the impact of play on the course without having to close it to the public. CHARTER CITY IMPLICATIONS: Operation of the golf course is not subject to prevailing wage requirements. BACKGROUND AND OVERVIEW: The City entered into a Golf Course Management Agreement with Landmark Golf Management, LLC (Operator) in April 2004. Section 3.2.1 of the Agreement provides that the Operator shall submit an Annual Plan to the City Manager, including a projected operating budget, for the upcoming fiscal year. ANNUAL PLAN The Annual Plan for Fiscal Year 2007/2008 was $3,822,647, with projected revenues of $3,410,554 reflecting an operating deficit of $412,093. A $250,000 advance from the General Fund, per the Agreement, was used to establish the Landmark Golf Operating Account. The proposed Annual Plan for Fiscal Year 2008/2009 is $4,099,379 with projected revenues of $3,756,926 reflecting a deficit of $342,453. This reflects an improvement of $69,640 from last year's operating deficit. Assumptions used in this plan include: • 41,150 rounds of play for Fiscal Year 2008/2009; • No rate changes are recommended; • An average projected revenue of $79.12 per round; • A 2% capital reserve ($75,139) for future golf course improvements/renovations, per the Management Agreement (section 3.10.1); • Maintenance of the SilverRock entry landscape for $54,296 (unchanged from 2007/2008) funded from the Lighting and Landscape District; An additional $17,200 separate from the Annual Business Plan is being requested as new capital expenses for the replacement of nine computers and five hundred valve boxes for the lateral isolation valves. 181 GOLF RATES Fiscal Year 2008/2009 Proposed Annual Plan recommends no changes in the posted golf rates. Last year, City Council approved the Resident Guest Rate which is offered to accompanying guests of La Quinta Resident cardholders. This guest rate is limited to three guests accompanying a Resident cardholder. The guest rate represents a 20% discount from the prevailing posted rates and follows similar booking procedures as extended to a La Quinta Resident cardholder; booked 3 days in advance. In order to maintain the budgeted revenue per round, the City's Operator and staff do not recommend any changes to the rates or requirements for Resident or Resident guest rates. CAPITAL EXPENDITURES The Operator has proposed $17,200 in additional capital expenditures (not included in the budget) for the following: 1. Replacement Computers = $7,200. The replacement of nine computers (6 in the pro shop and 3 in food service) is to meet increasing operational needs. 2. Valve Boxes = $10,000. Five hundred valve boxes are needed for the golf course irrigation system isolation valves. The isolation valves currently exist and are functioning properly, but the valves are difficult to find because they are not in valve boxes. BOB HOPE CHRYSLER CLASSIC TOURNAMENT The Annual Plan for Fiscal Year 2007/2008 included $90,868 for supplemental Bob Hope Chrysler Classic expenses. Prior to the event, the golf course operator requested an additional $80,000 for additional expenses related to the event. The supplemental expenses, which included one time equipment purchases, totaled $170,868. The golf course operator recommends a proposed amount of $1 16,888 in supplemental expenses for the 2009 Bob Hope Chrysler Classic as follows: Personnel Costs = $17,688. The additional personnel costs will cover the overtime expenses that will be required to prepare the course for the tournament as well as having the golf course being open to the public through the opening day of the event. 2. Supplies and Materials = $85,000. This amount will cover any unforeseen incidents, such as acts of nature, which may require bunker sand replacement, tree replacement, seed and sod for the turf, and plants for replacement or enhancement purposes. 3. Equipment = $14,200. This amount will cover equipment rental for pumps, generators, and any other equipment they may be necessary for the event. 182 FRONT ENTRY LANDSCAPING The operator has proposed $54,296 in supplemental expenses for the front entry area that encompasses the entrance at SilverRock Way and Avenue 52. This amount remains unchanged from last year. Staff concurs with the aforementioned recommendations. FINDINGS AND ALTERNATIVES: The alternatives available to the City Council include: 1. Approve the Annual Plan as submitted by Landmark Golf Management, LLC which projects $3,756,926 in revenues and $4,099,379 in expenses for a net loss of $342,453 plus an additional $17,200 for Capital Expenses and $116,888 for the Bob Hope Chrysler Classic Tournament expenses for a net loss of $476,541; or 2. Do not approve the Annual Plan as submitted by Landmark Golf Management, LLC which projects $3,756,926 in revenues and $4,099,379 in expenses for a net loss of $342,453 plus an additional $17,200 for Capital Expenses and $1 16,888 for the Bob Hope Chrysler Classic Tournament expenses for a net loss of $476,541; or 3. Approve the Annual Plan with modifications Respectfully submitted, AL -- Edie Hylton Community Services Director Approved for submission by: Thomas P. Genovese, City Manager Attachment: 1. 2008/2009 Annual Business Plan 183 ATTACHMENT 1 R E S O R T SilverRock Resort -Arnold Palmer Classic Course 2008-2009 ANNUAL PLAN Prepared For: City of La Quinta SilverRock Resort Prepared By: Landmark Golf Management Submitted: April 4, 2008 184 SILVERROCK RESORT Annual Plan Fiscal Year 2008-2009 Table of Contents Part I -Project Overview Project Fact Sheet 1 Mission Statement 2 Philosophy Statement 3 Organizational Chart 4 Key Employee Staffing and Salaries 5 Part II -Assumptions and Capital Expenditures 2008-2009 Assumptions 6,7 Golf Operations 8 Course Maintenance 8 Food and Beverage 8 Part III -Operational Financial Projections Consolidated Income Statement by Month 9 Department Detail Golf Rounds and Revenue 10 Carts, Bagroom & Range 11 Golf Shop Merchandise 12 Course Services 13 Golf Course Maintenance 14,15 General & Administrative 16 Marketing 17 Clubhouse 18 Miscellaneous 19 Part IV -Food and Beverage Department Detail 20,21 Part V-Other Marketing Narrative Plan 22,23 2008-2009 Golf Rates 24 Competitive Golf Rate Analysis 25 Bob Hope Assumptions 26 Bob Hope Supplemental Budget 27 Front Entry Maintenance Budget 28 185 C� SII VL Ruc IG PROJECT FACT SHEET COURSE NAME SilverRock Resort -Arnold Palmer Classic Course ADDRESS 79-179 Ahmanson Lane, La Quinta, Ca. 92253 TELEPHONE 1-888-600-7272 WEBSITE W W W.SILVERROCK.ORG MANAGEMENT Randy Duncan, Director of Golf / General Manager Willie Lopez, Golf Course Superintendent COURSE YARDAGE SILVER 7,558 PAR 72 BLUE 7,101 PAR 72 WHITE 6,639 PAR 72 YELLOW 5,974 PAR 72 GREEN 5,306 PAR 72 RED 4,884 PAR 72 GRASS TYPES GREENS: TIF DWARF FAIRWAY / TEES: TIF SPORT ROUGHS: TIF SPORT OWNER CITY OF LA QUINTA MANAGED BY LANDMARK GOLF MANAGEMENT, LLC 74-947 HIGHWAY 111, SUITE 200 INDIAN WELLS, CA 92210 PHONE: (760) 776-6688 DATE OPENED February 14, 2005 186 SILVERROCK RESORT Annual Plan Fiscal Year 2008-2009 Mission Statement "TO BE THE BEST" "TO HAVE THE BEST GOLF FACILITIES" "TO HAVE THE BEST GOLF COURSE CONDITIONS" "TO PROVIDE THE BEST SERVICE" SilverRock Resort is dedicated to providing the finest public golf experience. All Staff Members of the facility play an important role in our Mission. Staff is supported through training and resources to ensure success. SilverRock Resort aspires to represent ownership and management with the highest standard of service in the Golf/Resort Industry and produce superior golf course conditions to meet and exceed the goals. Goals and Objectives: To support our Mission Statement and to achieve the projected Annual Plan; SilverRock Resort will pursue the following goals and objectives: • To hire and train staff members that will provide a high standard of guest services and maintain the highest level of course conditions • To maintain and pursue an aggressive Marketing Plan that benefits/acknowledges the La Quinta Residents, local residents, avid tourist golfers and golfing public • To present a facility and golf course conditions that qualifies to host the Bob Hope Classic with a continuing strong commitment to be in the rotation of the clubs • To have each Department operate within their annual budget allowing SilverRock Resort to reach the net operating goals 187 SILVERROCK RESORT Annual Plan Fiscal Year 2008-2009 PHILOSOPHY STATEMENT After three (3) and a half years of operations, an Annual Plan accommodated the operational start-up through and including grow -in, final construction of the Arnold Palmer Classic Course, a notable Grand Opening Celebration and SilverRock's inaugural debut into the 2008 Bob Hope Chrysler Classic. As the 2008-2009 Annual Plan is implemented, focus will continue to be on broadening the awareness, marketability and noteworthiness of SilverRock Resort's Arnold Palmer Classic Course, golf facilities and amenities. Also a strong emphasis will continue to be placed on SilverRock's participation in future Bob Hope Chrysler Classic Tournaments which SilverRock is contracted to be part of for the next nine (9) years. The philosophy that Landmark Golf Management perpetuates at SilverRock Resort is: an operation that allows management to utilize golf industry best - practices in accommodating market -driven demands as market shifts may occur. Each golf course facility has its own personality and characteristics; therefore, each golf operation is unique to some degree and should be managed with personality and characteristics taken into consideration. Golf operators that adjust procedures to short and long term market and industry fluctuations are better suited to maximize opportunities. In this upcoming fourth complete twelve (12) months of operations, Landmark Golf Management will put forth every effort to better position SilverRock Resort as a place to frequent in the eyes and minds of the influential decision makers in the world of golf. BRAND PROMISE Discover the mystique of SilverRock Resort, the crown jewel of La Quinta and its golf legacy. Rich in both history and legend, the majestic Santa Rosa Mountains frame an unwavering commitment to an exceptional experience at SilverRock Resort. Our Promise: Exceptional in All, For All, Always. Golf Shop Head Golf Professional Asst Golf Professionals Gott Shop Buyer Sales Associates Guest / Outside Service Outside Services Manager :arts/eaa Room Starters P.A. W Golf Course Maintenance Asst Superintendent Mechamc(s) Irrigation Technician Spray Technician Greenskeeper(s) Administrative Asst SILVERROCK RESORT _ Annual Plan Fiscal Year 2008-2009 City of La Oumta ity ouncil & Staff Community Services Director Landmark Golf Management Management Team SilverRock Resort Golf Club Generai Mgr I Director of Golt Accounting Controller / Human Resources 4 GM Food & Beverage F&B Manager Restaurant F&B Server(s) / Cart Altendent(s) Marketing & Sales Tournament Sales Mani Key Employee Staffing and Salaries P �Uom Landmark Goff M6n,emeA1 2006-2009 ANNUAL PLAN 'L— _ _ DEPARTMENTSUMMARY _ ) _ _ JVL _ AUG SEP OCi _ NOV_ -_ DEC- JAµ FEB MAR -- — APR.—) - MAY JUN. GOLF OPERATION OUTSIDE SERVICES OUTSIDE SERVICES MANAGER OUTSIDE SERVICES SUPERVISORS(FULL-TIME) DRIVING RANGE(PART-TIME)1 1 1 1 1 2 2 2 2 2 1 1 CARTIBAGNALETIBAG DROP (FULL-TIME) 4 4 4 4 4 4 4 4 C < 4 CARTE GNALETIBAG DROP (PART-TIME) _ _ U _ _ 0 0 _ _ 0 _ 2 2 2 _ 2 2 2 ] ] T ] 9 10 10 10 t0 10 0 6 PRO SHOP HEAD GOLF PROFESSIONAL 1 1 1 1 1 1 1 1 1 1 +ST ASSISTANT PROFESSIONAL I I 1 1 1 1 1 1 1 1 1 1 MERCHANDISER 1 1 1 1 1 1 1 1 1 1 ' I ASSISTANT PROFESSIONAL 2 2 2 2 2 2 2 2 2 2 2 2 SALES CLERKS(FULL TIME) 1 1 1 2 2 2 2 2 2 2 2 2 SALES CLERKS (HART TIME) 0 0 1 1_ 1 _1 �_- 1 1_ 1 _ 1 0 6 6 ] 6 6 8 0 6 6 6 6 ] COURSE SERNCES 3 3 3 2 STARTERS (PART TIME) 2 2 2 2 2 2 3 3 2 RANGERMJIRSHALS(PART TIME) 1 1 2 2 2 2 2 2 2 2 2 SHUTTLE ORIVER(PART TIME) 1 _1 _ 1 _ _ _1 4 4 4 4 4 4 1- 4 4 5 5 8 8 9 9 9 9 6 5 GOLF COURSE MAINTENANCE SUPERINTENDENT ASST SUPERINTENDENT FOREMANISPRAYTECHNICIAN HEAD MECHANIC I FACILITY MANAGER ASSTMECHANIC HEAD WRIGATOR t t 1 1 1 1 1 1 1 1 1 1 ASST IRRIGATOR 1 1 1 1 1 1 1 1 1 1 1 1 GREENSMEN 16 IS 16 1B 16 19 16 1S 15 18 16 1H ADMINISTRATIVE ASSISTANT 1 1 _ 1 1 1 1 1 1 1 1 1 —26.. 1 TOTAL TURF 6 ADMIN STAFF 26 25 26 26 26 26 26 26 36 26 LANDSCAPE MA NTENANCE 1 FOREMAN 1 1 1 1 1 1 1 1 1 1 1 + IRRIGATOR 1 1 1 1 + 1 1 1 1 1 1 LANDSCAPERS 6 6 fi 6 fi 6 fi 6 fi 6 TOTAL CREW 6 6 _ 6 8 6 6 8 6 8 6 8 _ 6 TOTAL COURSE MAINTENANCE STAFF MAINTENANCE 374 J4 _ 24 64 M 39 N N R J4 34 ]4 FOOD 6 BEVERAGE F& B MANAGER I SUPERVISOR 1 1 1 1 1 1 1 1 1 CHEF 1 1 1 1 1 1 1 1 1 1 1 COOK 1 1 1 1 1 1 1 1 1 1 1 f PREP COOK 1 1 1 1 1 1 1 1 1 1 1 1 LEAD SERVER(FULL-TIME) 1 1 1 1 1 1 1 1 F & B WAITIBEVERAGE CARTMALF(FULL TIME) 1 1 1 1 1 1 1 1 1 4 1 1 F B B WAITREVERAGE CARTMALF(PART TIME) 2 2 2 3 3 3 3 3 3 3 3 2 BUSER I DISHWASHER (PART TIME) 1 1 __ 1 1 1 1 1 1 1 1 1 1 9 9 9 10 10 10 10 10 10 10 10 9 G6q DIRECTOR OF GOLFIGM ' ' + CLUB CONTROLLER ADMINISTRATIVE ASSISTANT_— J 3 J J J J J J 3 3 J 3 M TOURNAMENT SALES I GROUP COORDINATOR TOTAL EMPLOYEES 64 64 66 66 T3 l4 ]6 T6 76 25 TU 67 a SILVERROCK RESORT ANNUALPLAN 2008-2009 Assumptions Revenue Green Fees: A green fee includes golf cart and warm-up range balls. A combination of the various green fee rates and green fees mix of Regular, Twilight, and Resident play is anticipated to yield an average rate of $79.12 per round on an annualized basis. The Green fee rates for 2008- 2009 are projected to remain consistent with prior year's rates due to economic and competitive rate reasons. It is assumed in this Annual Plan that Resident's Guests will continue to be offered a discount as accompanied guests of La Quinta Resident card holders. The Resident Guest rate represents a 20% discount on the prevailing posted rates and follows similar booking procedures as extended to a La Quinta Resident card holder; booking three (3) days in advance. It is assumed that the golf course will be closed to public play during the Bob Hope Chrysler Classic from January 18-24, 2009. It is also assumed the overseeding dates will be October 5 through November 4, 2008; over seeding reduces revenues, which is taken into consideration in these projections, due to the course being closed during these dates. It is also projected that aerification will occur in August of 2008 and June of 2009 which reduces revenue for 3-5 days with each of these two (2) aerification cycles. Greens Fee Mix: Through proper marketing, yield management, and limited advanced Resident bookings the projected mix of green fees is: 25% Resident, 30% Regular, 10% Twilight, & 35% Other. Miscellaneous and Other Revenue: Based on $2.75 per round. This consists of golf club rentals, golf club repairs, handicap fees, driving range fees, rider fees, 15 % of golf lessons and Independent Contractor's Fees. Golf Shop Merchandise: Based on retail sales of $9.14 per round Cost of Goods Sold Merchandise 53 % Food & Beverage 33 % Expenses Golf Carts, Bag Room, and Driving Range: Includes outside service, valet, bag room, and driving range staff plus supplies and operating expense for this department. Golf Shop Merchandise: Includes golf professionals, merchandising sales staff, receiving staff and golf shop operational expenses. 191 SILVERROCK RESORT ANNUALPLAN Course Services: Includes course service staff consisting of course rangers/starters and related department supplies and materials. Golf Course Maintenance: Includes grounds maintenance staff, supplies, and materials. Over seeding dates are projected to be October 5 through November 4, 2008, which results in projected higher labor cost and supply costs during the annual overseeding process. Bob Hope Chrysler Classic: It is assumed that SilverRock Resort will host the 2009 Bob Hope Chrysler Classic. An Assumption sheet and a Supplemental Budget (not part of the Operations Budget, attached hereto as pages 26 & 27) provide the extra maintenance expenses needed to prepare the course. Front Entry Maintenance: A Supplemental Budget (not part of the Operations Budget, attached hereto as page 28) provides the maintenance schedule and expenses for the front entry area that encompasses the entrance at SilverRock Way south of Ave. 52. Water & Electrical: This includes water and electrical cost to irrigate the golf course and properly maintain the lake system. This is accounted for in the Golf Maintenance budget. Food & Beverage: Includes food & beverage staff and expenses for the temporary clubhouse. There is a separate Agreement for the Food & Beverage Department including the Liquor License arrangement between the City and Landmark Golf Management. Marketing: Includes marketing, public relations, advertising, web page, collateral and tournament sales, etc. Clubhouse: Includes clubhouse expenses, maintenance/cleaning staff, landscape maintenance, parking lot and entry drive clean up. Roving patrol expenses used to secure the entire property of SilverRock is included in the Operations Budget. . Management Fee: The monthly Management Fee of $7,500 per the Golf Course Management Agreement is included in the Operations Budget. Insurance: Per requirements of the Golf Course Management Agreement in the Annual Plan is the cost for comprehensive golf club insurance policy, general liability, property, equipment and business interruption etc. Personal Property Lease Tax: Exempt, except personal property taxes on equipment purchases orleases. Golf Carts and Maintenance Equipment Leases: Golf carts and maintenance equipment are being leased for the Golf Club. 192 2008-2009 ANNUAL PLAN I' SnverRocF Raised R1 A DATE (a-Ap.ufi to a AM Protections - July 2006 to June 2009 _ Capital ExpenERurss - ➢REPAREDB\ LanEmarLGol(Man1-11 ��— CAPITALEXPENDITURES TOTAL _ _ JUL AUG._ _ SEP. I OCT _ NOV. DEC _ JAN _ FEB _ MAR _ APR _ _ MAYS JUN. GOLF OPERATIONS _ 6 Computers s 4,800 $ 4,800 TOTAL GOLF OPERATIONS S 4,800 $ 4,800 $O so 30 $0 $O $O 80 $O $O W 60 FBBDEPARTMENT 3 Computers $ 2.400 S 2,400 TOTAL FOOD Is BEVERAGE $ 2,400 $ 2,400 SO $0 20 $0 $O $0 $O SO $0 E0 $0 —GOLF COURSE MAINTENANCE l J 500 Vale BaxealSPexn1 $ 10,000 $ %om TOTAL MAINTENANCE $ 10,000 $ 10,000 TOTAL CAPITAL EXPENDITURES" $ 17,200 $ 17,200 S0 $0 $0 Sn $0 $O SO $0 $0 SO $0 EXPLANATIONS GOLF OPERATIONS Six (6) computers will be needed to replace aging inventory L _ FBR DEPARTMENT Three (3) computers will be needed to replace aging inventory. GOLF COURSE MAINTENANCE 112 the valve boxes were replaced in 2007-2008 and the other 112 will be replaced in 2005-2009 budget m 3Wa3009 ANNUAL PLAN Slcergak Re-t CONSOHUATED NCOME NiATEMENi �'••• -�� "'^ F ORFISCALYEAP-JULY]UOe-JUNE2W9 DEPARTNENi 2n0]-2W9 BWgN .Y!unl'Nufi9en IOO: I009 20p62WH rbY lUt AVG SEP OCi NOV OEC JAN FEB MAR A%t MAY JVN OB IINOS 40,580L ftOUN05 _ _ 40.800 611.150 3,1W 1_ 2100 3250 NO, - d100 _ 36W: 260G 5100i 59D0 5d00t 4000) 2200 41,150 _ 2,100• _ TOTAL ROUNDS ",no 40,800 2,100 3,2501; __800y _4,1y 3,6001 2,6001_ _ 5,100 ' I _SINS 1 5400_ 4.0002,200 I REVENUE I i I ' GREEN FEES 3,161,211 ],I'08i0 3j¢5,F69 91 ]18� 91118 164572 ' 49.6101 347475 292,365 2d4000, 507450 59Z050 49,b5� 2]1 fi501 150508 MI6C REVIRANGEICARTS/RENTALS B1p25 99000 i1331T i334 4165 6353 5820• 12265i 11940 8I901 16260 18340 11410 6600 3630 GOLF SHOP MERCHANDISE 327,370 353000 3SSM 147M 147M 22 T50� 6400 III 32 BOO 30 FOO 52000 51000 59000 48600 280N 15400 FOOOB BEVERAGE CONCESSIONS 12,000 t2900 14,00D 500� _ 50ny 500 1500� 1500 15ML 1.5001_ 1500 _111,303I 194,1841 63,33_0_1 394,Oa0) 3M,405 306,690 •' 576,210 T-- _ _ 15001 _ 5M 500 SOO 665,890I 517,755 j_ 306,750 170,033 TOTAL REVENUE ],SN,]O6 J,6N,8T0 4J71%,926 114,252 COSTOFSAL ES PRO SHOP 1T3,T52 190,620 199{63¢ ?802 ],802 120T5• 3,39T _t],409 16241 2T 599 27 NO 31314 25T94 14861 8,174 TOTAL COST OF SALES 1T3,T52 190,620 ]99,SSi 71802 T,002 t2,0]5 3A9i 1TA09 16,201 2T,59g 2T,066 �T6651 31,314 2SNK 14,861 8,174 GROSS PROFIT ],4]0,554 144d.250 y$6T,aR5¢ 106 9 103,560 182,110 59,93J jI 320T. _2T9091 549]42 W4,ST61 491.961 291,889_ 161,064 1 OPERATWO EXPENSES GOLF CARTSIBAGSULANGE MOM 227,200 ZKM 168401 16 T901 i 166i5• 14104 R005 21243 21930 22,288 22488 21213 204. 1B.758 GOLF SHOP MERCHANDISE 250.699 26?000 2T91¢21 20078 20278 23 D53 1264T 25228 25,128 29382 24953 24953 24,h3 27 344 22,227 COURSE SERN10ES T1,W2 66,000 L$1R 3021 3021 4000 2.794 4616 5W2 6]O3 6653 6653 6970 53W 4,M1 GOLF COURSE MAINTENANCE 1,6T6,241 I,706,000 1,.699.99I 12ZE02 132552 143 J35 279OS3 135,58a 13328T 126 A67 12543i 122580 125850 IM 170 125.. WATER ELECTRIC COST 120.126 105,000 "S,¢TS 8814 8659 10034 10.254 8.9 8.349 6504 B42T 8504 85. 8659 8,814 GENERAL S ADMINISTRAME 321,596 320,000 SS3,$$ 26502 26732 21932 2].B5T1 21,85T 28232 313B2 27482 27,282 27282 28032 2]182 MARKETING 252p69 260,000 mom 10,13E 12470 24,158 25,fifi3 33153 30353 38523 35703 29,453 26,503 16953 141703 CLUBHOUSE 1T2,900 179,000 15i.100 13,842 13842, t3842 14412 13842 13842 15242 13-2 13842 13 M2 13,842 1842 MANAGEM ENT FEE Ikt•+rr L4e n..mnx1 111,237 101,200 90BM 29430 22463 12394 9370 (7681) ICBM 863 4025) OF 040) (388]) 92TT 21759 CAPITAL RESERVES 71,686 i2,696 i5,1S9 2.285 2228 J880 t26T T,M1 6T28 6134 11,524 13318 10,355' 6135 3401 INSURANCE SOA00 45000 12900 350D 3500 3500 3500 3,SD0 3500 3500 350D 3,WD 3500 3$OD 3$DO PERSONAL PROPERTYLEASE TAXES 20,000 20000 2000 O 0 0 0 20,BO0 OI O 0 O C 0 0 LEASES (Cad & Main., 471.900 4]4 AN 493,2id 41106 41,iW 41106 41, 106 41106� 41105 41106 41, 106 41,106 aLU)6f 41,106 TOTAL OPERATING EXPENSES 3,822,64T 3,863.096 S¢94864 3043M 303649 324313 442.OBT 3354831 327455� 328244 ]1fi 289 301629 305190 301 Wt 305597 _ NET INCOME (295,866) j34HA83) (197589) (200.68) (1422W) (382154) 41140 _ (T 291) (491531y-2J2 B53 329,94i 185 T63 (99T2) (143,933) NET INCOME% _Id12.09J) -tiSA q1.0% All, -172.9% -129.6% -T32% e03.4% 10AX -ln -16.0% 40A-A 49.5X 35.9% -3.3% 44.5% Avenge Green Fee $72.901 $77.22 R9:1$ 54368 U30 E5064 E5201 E0415 HN 21 $940D $9950 $9950 $8468 %T 91 WO 41 Avenge S Mnc Income Per Rd $2.01 UA3 W4 $349 $213 8198 E]20 $299 $332 $338 $319 8311 f21t $165 $165 Awmge$ Memlan6rse Per Rd $BW $965 SI14 $T CO $700 $T 00 £B 00 $800 $850 $2000 51000 51000 E9 C0 $TOO A00 TOMI Average Revanue per Round $58.03 $88.80 WAIT $R41 $S3.M 359]5 $29.16 $9611 f9]45 St IT% S112M f112.86 S9B88 fT6.69 fTT39 1► 2W8-2009 MINUAL PLAN Srlv- erRock Resort RUN DA I 24-MaT-W 1158 All oProleo0onsloll, 2081June 2009 - VREPARIDR\. landmark (rMf Management Goff Rounds Resdent Rnds(Weekdav) Residem RndslWe<`kendl Sub-Tn[alRonh IRm1. Total JUL AUG SEP ODT NOV DEC JPN FER MAR APR MAY JUN 555s 6290 1234, 284 347 610 2m 342 630 4a9 536 97,1 IDS I" 240 554 6T2 1230 486 594 1081, 351 429 181) 6N° M2 1530 -97 924 1220 719 891 1620 540 6W 1200 297 363 -1) "wJ I.a✓I PubLC End, (Weekdav) Pubbe Rnds(Wee -F SubTorul Pubba port, I. "u 4,629 Sn58 10288 236 289 525 236 299 525 3a6 44- ell on461 110 200 561 ton 405 495 9W 293 358 650 524 701 1275 lbi ell 1425 6(e 743 1350 430 550 IWO 248 301 550 Pubhc I wo(Weekbv) Pubh. Two(W9 kend) Sub-ToenlTmth,dt Rnrl 1852 2,20 4 115 95 ]to 110 95 116 210 146 17a 3'_5 s, 44 80 185 "_26 410 162 198 360 M7 143 260 230 1�81 510 266 325 590 243 ^_92 540 180 210 4(V e) 121 220 °ant l.v,d Other FN�kdav) OF,,(Woekend) Tourunsrnm 611mlaea'c RTvdenl Goal St Be Got( D,m 1, PGA funmr Rry1og SebTabtl 00, U'+tl 6,481 2,927 2881 2,881 1,440 1440 3,601 220 720 220 14,403 331 404 142 142 24 24 184 32 32 32 935 331 404 147 147 24 24 1m 32 17 32 235 512 626 2"_8 PA 114 114 ZB4 57 57 52 1138 R 6 154 56 56 .'8 B 20 14 14 14 No e16 289 282 282 144 144 359 3 72 22 1435 562 693 25' 252 126 126 315 63 63 63 1260 410 5M 152 182 91 91 22B 40 46 46 910 803 982 357 352 129 19, 446 89 89 89 1785 929 1136 413 413 202 202 516 103 103 103 2065 BSl 1040 33 328 189 189 423 95 95 95 18% 630 70 280 280 140 140 350 20 20 20 14W 312 424 191 154 D 17 193 39 39 39 220 % n,`Tural Tolnl Rorrrrds 1) 31 41,150 21M 21M 3250 800 41M 3600 2600 51M 5900 5400 4000 2210 fissn Psaf Redden, Redd, end,(Wer Mly) Resident Birds (Weekend) Pubhc Red,(Weekday) Pupil, Rnds(Weekeed) Pubhc fwr(Weekdav) Pubbe ITwr(1Veekend) other(Weekday) Other(Weekeed) $ 5 5 S $ $ $ $ 30W 3000 5000 60W 4500 5500 45W 4500 $ 3000 5 3000 $ 5000 It 6000 $ 4500 $ 5500 $ 4500 $ 45W S 3000 S 30 W $ 6000 $ 2000 5 45W $ 5500 5 5500 5 60M $ low S 3000 5 85W $ 10500 $ 6500 S 25W $ WC0 $ 65W $ 4500 5 $ 45 W $ $ 113W $ $ 12300 $ $ 85W $ $ 8500 $ $ 9000 $ $ Won 5 4500 4500 125W inoo 2500 75W 8000 8500 5 5500 $ 5500 $ 15000 S 150W $ 85W $ 8500 $ %W $ 90on 5 5500 S 55 W S 16500 S 16500 $ 8500 8 85W S 9500 $ 9500 5 55W $ 5500 $ 16500 $ 16500 $ 85W $ 85W $ 95W $ 95W $ 5500 $ 5500 5 13500 $ 13500 $ 8000 $ 8000 $ 2000 $ 8000 $ 4500 $ 45 W 5 woo 5 9500 $ 6000 $ 2000 $ 65W $ 75011 5 45W $ 4500 $ woo S n5W $ 6500 $ 2500 5 65W 5 750 Goan R~m Resident RMS(Weekday) Resident ends(Weeknarn Pubbe Rnds(Weekdav) Pubhc Rnd,(We!Fwd) Pubb, Twt(Weekdav) public l wo(Weekend) Othef(Weekday) Ot le, (Weekend) Trent Rezenne 2W930 116,470 554344 694,238 133,954 V1,669 493,408 632,748 1255759 S $ S $ It 5 $ $ S 8,505 10,395 11,813 12,325 4,253 6,353 14,884 18,191 91,718 $ 8,505 $ 10,195 $ 11,813 $ 12,325 $ 4,253 $ 6,353 $ 14,884 $ 18,191 5 91,T18 5 13,163 $ 16,088 S 21,938 5 31281 5 6,581 $ 9,831 5 28,153 S 32,538 5 164,592 5 3,240 $ "rAA) $ 2,650 S 11,55O $ 2340 $ 3,3W S 2,560 $ 10,010 $ 49,610 $ 24,908 5 $ 30443 $ $ 52,656 $ $ 20,469 $ 5 15,683 $ $ 19168 $ $ 58,118 S 5 71033 $ $ 349,495 $ 21,820 26,230 50,625 61,875 12,150 14,850 45,360 58905 292,%5 S 19,305 $ 23,595 $ 43825 S 53,625 $ 9,945 $ 12,155 S %,855 $ 45,W5 S 244,4W $ ?2,868 $ 46,283 $ 94,669 S 115,206 $ 19,508 S 23,843 5 76,-0 $ 93266 5 507,450 8 43,808 $ 53,543 $ 109,519 $ 133,856 $ 22,5M S 22,583 $ 88,229 $ 102,8% 5 597,050 8 40,095 5 49,005 5 82,013 $ 100,138 $ 19,440 $ 23,260 $ 59.595 S 83,160 $ 457,245 8 24,300 S 29,70r) S 40,500 $ 52,250 $ 10,800 $ 13,400 $ 40,950 $ 52,250 $ 291,650 8 1?.365 $ 16,135 $ 22,25 $ 28,238 S 6,435 $ n,025 $ M,5n $ 31763 $ 1.50,508 Avg Rnte 5 79.12 $ 43.68 $ 43M $ 5064 S 62M 5 8425 S 8222 5 9400 5 Y950 S 9950 5 8468 5 6291 It 6841 Mise RSVnnns Club Rental ($ 30 per round) Dnang Range Balls (S 25 per round) Brea, Fees 22,583 46,650 5,984 $ $ $ 1,155 21W 2,029 $ 1,155 $ 2,100 $ 210 $ 1788 $ 3,250 $ 325 $ 440 $ BW $ 80 $ 2255 $ $ 4,100 $ $ 410 $ 1,980 3,600 360 $ 1,430 $ 2,600 $ 260 $ 5,100 $ 2,650 $ 510 $ 5,900 $ 8,850 $ 590 $ 2,920 $ 5400 $ 540 $ 2,200 $ 4,000 $ 400 $ 1210 $ 2,200 $ 220 Independent Instructor Fees 9,000 $ . $ - $ $ . $ 1,500 $ 1,500 $ 1,500 $ 1,500 $ 1.500 $ 1,500 $ - $ - BallRetrelval 4,000 $ 1,000 $ - $ 1,000 $ 1,000 $ I= $ - $ - GPSAc."slogincome 12,000 $ 1,O00 $ 1,000 $ I,000 $ 2,000 $ 2,000 $ 2,000 $ 1,000 $ 1,000 $ 1,000 Hand¢ap Fees (posed on 200@$40) To1al 8,000 113,217 $ 11 - 7,334 $ . $ 4,465 $ - $ 6,363 IS 1,500 $ 5,820 $ 2,004) $ $ 12,265 $ 2,500 11,940 $ 1,000 $ 8,290 $ 500 $ 16,260 $ 500 $ 18,340 $ - IF 11410 $ - $ 6,6W $ - $ 3,630 1T11 2008-2009 ANNUAL PLAN SilverRock Resort 8o+a.0 nsap.-�. mu,•w Projections - July 2008 to June 2009 easraatn a1 CARTS, BAGROOM 8 RANGE -641 TOTAL JUL AUG SEP. OCT NOV. DEC JAN FEB. MAR APR. MAY JUN. 41,150 2100 2.1W 3,259 8W 4,1W 3600 2600 5100 5900 54W 4,000 2,2W Rounds SALARIES AND -BENEFITS 114,989 9,075 9,075 8,985 3,406 6,284 11,715 11,715 11,716 11,715 11,T15 9,I95 9,]95 Salaries and Wages 14,316 1.130 1,130 1,119 424 782 1459 1459 1459 1459 1459 1219 1219 Payroll Taxes Workers Compensation 16,612 1 303 1 303 1,290 489 902 1682 1 682 1682 1602 1,682 1 407 1 407 Employee Meals 6,180 420 420 420 420 540 6W 6W 600 600 600 480 4W Health Insurance 8,640 720 720 720 720 720 720 720 TZ(l 720 720 720 720 TOTAL SALARIES AND BENEFITS 16Q638 12,648 12,648 12,533 "5,459 9,228 16,176 16,176 TG 6 16,1T6 16,176 13,621 13,621 SUPeUES AND 69ATMALS ti'mo 150 150 150 1000 18W 150 150 TO 1W 150 5W 5W Expendable Suppler ]2 72 72 1 500 72 72 72 72 72 72 72 72 Towel Replacement 2,292 23,950 1W0 1,800 1'1 700 1250 1300 2,(l 26W 2,700 26W 2.600 2,2W Patient Water 2,350 0 0 0 500 IOw 500 75 75 W 50 50 W Cad Supplies 6,000 0 0 0 0 1 0 0 0 0 0 0 0 Range Balls Handicap Expenses(Based on 2W@$25ea) 5,000 100 100 100 400 4W 125) 1000 5W 500 250 2W 200 TOTAL SUPPLIES AND MATERIALS 46442 2,122 2,122 2,122 4,100 10,522 3,272 3,897 4,247 3,472 3,122 3,422 3,022 REPAIRS AN"AINrENANCE 125 125 125 125 125 125 125 125 125 125 Equipment Regan -Golf 1,500 125 125 TOTAL REPAIRS AND MAINTENANCE 1,500 125 125 Ila 126 125 125 125 126 126 125 125 126 QTHEB EXPENSES 25 25 25 50 W W 50 50 50 W 50 50 Ofice Supplies 525 0 0 0 0 0 0 TO IO 70 70 70 70 Pnatidg l Stationary Cart Contract Seances - (59 Per can per mo @ W carts) 4" 1 720 720 720 720 720 720 720 720 720 720 720 720 Can Maintenance B Repairs 4,000 WO 503 500 500 2W 250 250 250 250 250 250 250 Freight l Dail ry I'm 75 75 75 75 75 75 75 75 75 75 75 75 200 Uhd..a 5,626 0 0 Soo 0 500 2,11 1 50) 500 0 WO 0 500 0 500 925 5W 500 1,SW 5W 500 Lai and Lmen 6,000 500 75 75 75 15 75 125 125 125 125 Miscellaneous 1,150 125 TS 75 TOTAL OTHER EXPENSES 2T,260 1,946 1,895 1,895 4,420 2,170 1,670 1,740 1,740 2,715 1,790 3,290 1,990 TOTAL EXPENSES 234,840 16,840 16,790 16,675 14,104 22,W 21,2A3 21,938 22,288 22,480 21,213 20,458 18,758 Expendable Supplies are made up of -Scorecards, Tees, Pencil Trash Bags, Cups, First Aid Supplies 8 Bottled Water tar guests Unrform, Each employee receive 4 shins, 1 hat per season li (� 11 cn 200F2Ow ANNUAL PLAN GOLF SHOP MERCHANDISE - 61 GOLF SHOP MERCHANDISE SALES TOTAL A OF ROUNDS AVERAGE REVENUE I ROUND TOTAL MERCHANDISE SALES MERCHANDISE REVENUE Soft Cows Sales Hare Goods Sales TOTAL MERCHANDISE REVENUE COST OF SALES COS - MerchaMlse (58%) purchase Disc Taken - (5%) Freight -Merchandise TOTAL COST OF SALES GROSS PROFIT SALARIES AND BENEFITS Salaries and Wages Payroll Taxes YyUkAm Compensation Employee Meals Health insurance TOTAL SALARIES AND BENEFITS Sil.,Rock Edson kill .111 w \I In Is 1M Prgecflons-July 2008 to June 2009 _ PREPAREDk\ U,dm.n Golf Mi TOTAL JUL AUG. _ , SEP OCT Di T JAk FED MAR- _E APR MAY JUN NOV: J 41,150 2100 2100 3250 Boo 4, 100 3600 2600 5100 59M 5.400 4000 22M $914 $7.00 $700 $700 $8.00 $800 W050 $20 no $1000 $10.00 $9.00 $7.00 $7 DO $375.950 14700 14,700 22,750 6400 32,800 mom 52000 51,000 59000 48600 28 POP 15400 52 150 69 BOO 2441368 9555 9,555 14768 4160 21320 19890 33 WO 33150 38350 31590 18200 10010 131,583 5145 5145 7963 2240 11480 10,710 182W 17650 20650 17010 9,800 5390 375,SW 14,700 14,700 22,750 6,ifoo 32,800 0 ,600 52,000 51,000 59,000 08,600 28,000 15,400 53 U87. 5308% 5308% 5308% 5308% 5308% 5308% 5305% 53085a. 5306% 5308% 53.08% 5308% 206773 8085 8085 12513 3520 18,NO 16830 28600 28,050 32450 26730 15400 8470 (10,339) FIGU (404) (On) (17E) (902) (842) (1,4W) (1,403) (1 623) (1.337) (770) (424) 3.102 121 121 188 53 271 252 429 421 487 401 231 127 _-199,535 7,802 7,802 12,C75 3,397 17,409 16,241 27,599 27068 31,314 25.794 14,861- 8174 176,415 68% 6,898, 10,675 3,003 15391 14,359 24401 23,932 27.60E 2280E 13,139 122E 130,171 13.343 13,343 22,431 Lost 1,son 14,71N9 1 094 1094 5,400 S60 Wo 36450 27M 2700 258,226 19,15E 19,158 14602 6,027 16786 16786 1758E 16,786 18.78E 1628E 18186 15,074 1828 750 2,090 2,090 2, 189 2090 2.090 2090 2,015 1877 1,204 494 1376 1,376 1,442 1376 1376 1376 1327 1236 420 480 AB0 480 480 480 480 480 480 420 2 700 3150 3,1% 3,150 3,150 3,150 3150 3,150 3150 3ISO 20833 10,902 23883 23883 24 M7 23883 23883 23883 23, 159 21757 OTHER EXPENSES 300 300 500 300 150 200 200 100 100 OMm Supplies Contract Semces-ions ntlise Consultant 6,000 SOO 500 500 SG0 500 500 SO0 500 500 500 500 500 500 506 500 SOO an Subscriptions Dues and 2,000 2,075 0 0 0 0 0 0 0 0 0 0 Z,WO 0 eNe,, Delivery 0 0 D 25 25 25 0 0 0 0 15 0 15 15 Travel Travel W 90 0 0 0 0 0 0 15 15 15 2840 170 100 too t70 370 270 570 270 270 270 270 270 Telephone Telephone 840 70 50 ]O 70 00 70 30 TO 30 ]0 30 Semmarsl Training 5,490 % ]50 150 1,250 500 10 100 1,250 35 35 35 t 250 35 Miscellaneous 450 0 0 0 50 50 50 50 50 5D 50 50 50 TOTAL OTHER EXPENSES 20,295 1720 1,120 2220 1745 1,345 1,245 2,535 1070 1070 1070 4, 185 970 TOTAL EXPENSES 279,521 20.878 20,278 23053 12647 25225 25,128 27382 24,953 24.953 24,953 27,344 22,727 TOTAL GOLF SHOP MERCHANDISE INCOME (LOSS! (103,106) (13,900) (13,380) (12,378) (9,613) (9,838) (10,768) (2,981) (1,021) 2,733 (2,147) (14,2)5) (15,501) Expendable Supplies are made up of Golf Can Rental Agreements Golf Club Rental Agreements, GM CeNfirates 8 Merchandise Bags Uniforms- Each FWIFTime Emp rece ves (1) shin per month i 12 200e-2009 ANNUAL PLAN n RbY DATE 3lU1. I 1PM P owein PREPARED 61 Lan4marA GUR Man aX'mem COURBESERVICES-643 _ TOTALS = JUL AUG _ SEE _ OCT_L NOV. DEC JAN fEB_ _ MAR. _ APR MAY _ JUN SALARIES AND BENEFITS 41,9N 2160 2 160 2 880 1 280 3,200 3 520 4 880 4 880 4,860 4 660 4 000 3 200 Salaries and Wages 5,219 269 269 359 159 398 438 608 608 SDI 608 498 398 Payroll Taxes 3,407 177 1]] 236 105 262 289 400 400 400 400 328 262 WOMers CBmpensalien 240 240 300 300 480 450 540 540 540 540 360 300 Employee Meals TOTAL SALARIES AND BENEFITS 4,860 55,436 2846 2BIG 3]]5 184E 4341 4727 6428 6428 6425 6428 5186 4161 SUPPLIES AND MATERIALS 100 100 100 100 1DO 100 100 too 75 75 Expendable Supplies TOTAL SUPPLIES AND MATERIALS 1,056 1,050 50 50 50 56 10o 100 100 100 1D0 100 100 100 75 75 OTHEREXPENSES Uniforms 1,Soo 75 75 50 ]SO 75 75 75 75 75 450 75 50 nl 50 50 50 W 50 50 50 50 50 50 50 50 Miscellaneous mirceladeoUs 200 300 0 0 0 50 50 5D 50 0 0 0 0 0 TOTAL OTHER EXPENSES 2,701 125 125 125 850 175 175 176 125 125 450 125 125 TOTAL COURSE SERVICES EXPENSES 59,187 3021 3021 Oo011 2]94 4616 5,002 6,703 6653 6653 6978 5386 4361 Expendable Supplies are mada UP of CLpdxAPA. Paper(starter sheets, ranger sheets) Tovds Trash Bags Undorml Each employee receives 4 shitls, 1 hal Per season 0 13 2008-2009 ANNUAL PLAN 6ilhom kResort 041 1)11r if ur,"I __ _ PrOlec1i- i20081. June 2009 lur e1x1 11m . ....... I Iri MAINTENANCE DEPARTMENT-63 TOTAL _ JUL AUG SEP OCT NOV DEC JAN. _ FED _ MAR APR _, MAY JUN. SALARIES AND BENEFITS Salaries and Wages Ovemme Hourly Wager, Payroll Taxes Workers compensation Employee Meals Health Insunsi TOTAL SALARIES AND BENEFITS 701 16,894 90,313 59,020 2,880 144,996 1,022,611 59039 0 ] 350 4TPl 240 12,083 83,563 59039 0 ] 350 4,841 240 12 083 83,553 59039 0 ] 350 4,841 240 12 083 83,553 59039 10732 8 686 5428 240 12 083 96,208 59039 3234 ] 753 5018 240 12 083 8].36] 59 D39 0 ] 350 4841 240 12 083 93,553 59039 0 ] 350 4841 240 12 083 83,553 59039 0 ] 350 t841 240 12 083 83,553 59049 0 7,352 4842 240 12 083 $3,566 59049 0 ] 352 4842 240 12 083 83566 59049 0 7,352 4842 240 12 083 83,566 59049 2928 ] ]l6 5002 240 12 083 87,018 SUPPLIES AND MATERIALS Feml¢er Flower"Plants Gas 6 Oils Golf Course Accessions Cherecals B Poseodes POA Control SandlMulch SandlBunker Seed Small Tools Sort Topdressmg TOTAL SUPPLIES AND MATERIALS 95,200 3,500 45,540 7.000 25,200 6,000 6,660 5,000 1011810 7.000 5,750 7,600 316,260 5,500 0 3 740 200 2,400 0 390 0 3ED 100 1000 1,250 14,930 11500 0 3740 200 1000 0 390 0 350 100 1000 1260 19,530 9600 1,000 3 740 20D 2000 0 0 5000 250 300D 1000 0 25,790 18100 250 6 490 5000 4500 0 2 100 0 98 No 3000 250 2500 140,250 5000 0 4 180 200 2,700 3000 2, 100 0 350 100 250 0 12,880 12 OLD 1 000 3740 500 2200 0 800 0 350 100 250 0 20,940 5500 95C 3, 190 200 2000 3ODD 380 0 350 100 500 D 11 8DOD IN 3190 too 2000 0 100 0 350 too 0 0 13,940 5000 10 3 520 100 1500 0 100 0 350 100 0 0 10,]]0 5000 )DO 4 290 100 2000 0 100 0 350 100 0 0 12.040 5000 2 860 100 900 0 100 0 350 100 500 1300 11,210 50M 2 860 100 2,000 0 100 0 350 100 1000 1,300 12,810 REPAIRS AND MAINTENANCE Buildings B Bridges Equipment ImgaHori System Pumps SW Aquates Lake Maint Conarad Trees 500 46,100 15,00 10,500 160U0 9,000 4,400 1,500 1,000 1,500 0 0 4,400 2.100 1 000 15M 0 0 4,400 2200 1,000 1 500 0 0 10000 20W 1 000 500 3000 0 5500 900 1000 500 0 0 40M 550 1 000 2.50D 0 250 3500 1200 two 500 0 250 25D0 1000 t 000 1 5M 0 0 2000 1000 1 000 t 500 2,000 0 2,000 1000 1000 1,500 4000 0 2.01 1No 500 1 500 0 0 1400 1,000 0 1 500 0 TOTAL REPAIRS AND MAINTENANCE 97,550 li 9,000 9,100 16.500 7,900 8,050 6,450 6,250 7,500 9,500 5000 3,900 14 N O O 2008-2O99 ANNUAL PLAN SBvvRock Resort it 111111 p ix.1 Prafec4ons-July 1008 to June2009 _ _ _ _ Pxveru l m i..n-1-Iml... ro-I _ MAINTENANCE DEPARTMENT -63 _ TOTAL t JUL � AUG. SEP_ OCT _ NOV. DEC JAN FEB _ M AR_ _ APR _ _ MAV JUN OTHER EXPENSES 0 0 0 0 0 o z0oo 0 Come, Servmes soNTizzu Tests 4,000 0 0 2000 0 0 200 0 200 0 100 Dues and subscnpeons SOO zoo 0 0 0 200 0 50 50 50 50 s0 Employee Education 600 50 50 50 50 50 50 50 100 Equipment Rental 4,200 200 150 150 1 800 600 20D 200 20D 200 200 200 6,OOD SOO 500 500 SOO 500 500 500 500 500 500 500 5DO Auto Expense 11600 100 100 0 0 0 0 0 1,000 250 150 0 0 Licenses and Permits 1,200 100 100 100 100 100 100 100 1DO 100 too too 100 Miscellaneous 1,200 100 100 IX 100 100 100 100 100 100 t00 100 1W Supplies Miscellaneous 150 150 150 150 150 150 150 150 150 150 150 Propane/Natural Gas 11800 150 200 200 200 200 200 200 too 100 too Safety Eguipment8 Training 3,400 too 1D0 1100 800 800 800 800 800 Soo 800 Soo Talep0ooe/DSL 9,00 800 Soo 800 800 0 Green Waste Removal 0 0 0 0 0 0 520 0 820 0 820 0 82O 0 820 0 820 0 820 820 Uniforms B Lmen7.,yoB 9,840 020 820 _ 620 820 3.170 4,820 2,820 TOTAL OTHER EXPENSES 44,340 3,120 3870 C-31T 4.520 3,520 2,920 T,920 4,120 3,170 TOTAL MAINTENANCE EXP.(EXCL Lantlscapeng) 1,480,761 110,003 114,953 124,813 257,478 116,667 115,463 109,093 to7,e6] 105,006 1O82T6 104,596 106,548 LANDSCAPE 155915 13,140 13,140 13910 13,185 13,91 13140 1314a 13140 13.141 13.141 t3,140 1]Nt Wages Overtime Hosts Wages 5,915 0 0 910 3033 0 0 0 0 0 910 20369 1636 1636 1749 1149 749 1636 1636 1636 1636 6 1636 1636 1749 Payroll Taxes 1325i 10i8 11 t104 1252 1252 1.1N 1076 1,O76 tIN 1104 1176 1W6 1127 Compensa0on 13246 1,to4 T104 1031 lj�6959 1959 _ 6,959 _ 04 HealthWolters Health Insurance landscape Wa9as 8Benelits _ _ 210,481 16959 6959 16959 5959 16031 _ 20715 _ 18031 16959 _ 6959ljN 16959 16,959 16959 6,959 6959 16959 16,959 8031 160J1 1025 1DO 100 100 100 1W 75 75 75 75 75 75 75 Small Tools 4 250 250 250 500 500 5DO Soo 250 250 2W 250 250 5O0 Repa0s8 Maintenance -Dnp lrrgeeen 290 290 290 290 290 290 290 290 290 Uniforms 3,450 290 29D 290 TOTAL LANDSCAPE MAINTENANCE 219,236 17,599 17599 18,921 21605 18921 ii 824 ti 514 11574 ti 574 17,514 17,5T4 168% COURSE 6 LANDSCAPE MAINTENANCE TOTAL 1,699997 127,602 132552 143735 279083 135589 133287 126667 125,437 122580 125650 122.17D 111144 (EXCL UTILITIES) WATER 8 ELECTRICITY COSTS 21811 1,000 1850 3254 1349 1500 1.427 1500 1,500 1559 19t4 Water Cost 84,000 i 000 7,000 ] WO 7WO ] O00 7000 i 000 7,000 7000 ] 000 7000 7000 7000 ] 000 Elednaty Pumping Coals TOTAL WATER AND ELECTRIC COST 105,971 8 814 8659 10034 10,254 8,349 5 349 8 504 8,427 8 504 8 504 8 659 8 814 TOTAL COURSE MAINTENANCE EXPENSES 1805,867 136,416 141,211 153,769 289,337 143937 141,636 135,171 1331864 131,084 134,354 130,929 134,258 15 2008-2009 ANNUAL PLAN Silverfdack Resort Prolec0ons - July 2008 to June 2009 RhN Dw I .1 IY I1"1 PREPwR[U 0Y Ianan,�M 4nIr M�n�Pm. n, G & A DEPARTMENT -6] TOTAL JUL. AUG SEP. OCT NOV DEC JAN FEB MAR APR MAY JUN $ALAS€$ AND BENEFITS 205,756 1714E 17,14E 17,146 17,146 17146 17146 17146 17146 17146 1714E 17146 17148 Sa12De6 am Wages 25,617 2135 2135 2.135 2, 135 2135 2,135 2135 2135 2135 2135 2135 2135 Payroll Taxes 16,872 1 406 1406 1406 1 406 1 406 1 4N 1,406 1 406 1 4M 1 406 1 40E 1 40E Workers Compensation 2,160 180 1ED 180 180 180 180 18D t80 180 180 180 180 Employee Meals 2,250 2260 2250 2250 2250 2250 2250 2,250 2250 2250 Health Insurance 27,00D 2250 2250 TOTAL SALARIES AND BENEFITS 2T],405 23117 23,117 23,117 23,117 23117 23,117 23117 23117 23117 23117 23,117 23117 REPAIHSANDMALNIENANCE Equipment Repair 1,200 100 IN 100 1DO IN 100 100 100 100 100 1OD 100 TOTAL REPAIRS AND MAINTENANCE 1,200 100 1W IN IN IN 100 100 IN IN IN 100 100 OTHER EXPENSES OTHER 125 125 125 125 125 125 125 125 125 125 125 125 Office Supplies 3,200 0 100 1DO IN IN 400 400 400 400 400 400 400 Punting l Stationary 75 75 75 75 75 75 75 75 75 75 Postage 900 4,600 75 0 75 0 1000 1000 1000 1000 200 200 200 0 0 0 Recanting/Relocation 50 0 200 50 W 200 150 150 50 50 500 50 Dues and Subscriptions 1,500 50 50 50 50 50 50 50 50 Freight l Delivery 6D0 60 50 50 50 0 0 IN 0 200 500 200 Travel 1,100 4,000 0 100 IN IN 0 100 0 1W 0 1W 100 2500 IN 100 IN IN 100 Entertainment&Promotion 400 400 400 400 400 400 400 400 400 400 400 400 Auto Expense 4,800 4,200 350 350 350 350 350 350 350 350 350 350 350 350 Equipment Rental(CoperlStorage) 100 IN IN 10D 100 In.mCaptal Equipment No 0 0 1DO 100 IN IN Undonvs 1,00 75 75 75 150 150 75 75 75 75 75 75 75 Professional Fees (I T & Safety Fees) 4,800 400 400 40D 400 400 400 400 am 400 400 400 400 Seminars I Training 2,400 200 200 200 200 200 200 200 200 200 200 200 200 6,800 550 550 550 550 550 550, 550 550 550 550 550 550 Payroll Processing 10,800 800 Sib 800 800 AN 800 2 NO 800 800 800 800 800 Computer Supplies (POS Support Fees) 90 90 90 90 90 90 90 Bank &ADP Fees 1,080 90 90 90 90 90 Miscellaneous 1,200 IN 1W 100 IN 1DO 100 100 100 100 1W 100 100 TOTAL OTHER EXPENSES 55,230 3365 3,515 4,715 4,640 4,640 5016 8,165 4265 4055 4,055 4,815 3,965 TOTAL G& A EXPENSES 333,835 26,582 2fi ]32 27,932 27,85] 2],85] 28,232 31382 21482 27282 27,282 28.032 27, 182 Unrtorms- Expense to be shared between GM & Cantroller Entertainment & Promotion - GM p, m.tm, property for potential clients s N O 16 2008-2009 ANNUAL PLAN SllverRock Resort Prolaopons -July 2008 to June 2009 MARKETING 04-APr08 03.12 PM PREPARED BY LmlCmark Golf Management MARKETING DEPARTMENT-6fi TOTAL JUL. AUG. SEP OCT NOV OEC JAN. FEB MAR APR. MAY JUN Salanes antl Wages Payroll Taxes WorkersCompensation Employee Meals Health Insurance TOTAL SALARIES AND BENEFITS OTNEREXPENSES Office S.,has Printing l Stationary Postage Contract Semces Web Page Dues and SubsxrPtl.i Uniforms Telephone Civic, Commumty and Trade Show Public Relatlons Promotions I Meals Promotion -(Media. Vendor Days, etc) Advertising (Ad Purchases) Collateral Matenal - (Yid Sks Rack Cps, Stain Brochures) Miscellaneous TOTAL 01 EXPENSES TOTAL MARKETING EXPENSES W,000 2 500 2 5W 2 5W 2 500 2 500 2, 500 2 5M 2 500 2,500 2 500 2, 500 2 500 3,735 311 311 311 311 311 311 311 311 311 311 311 311 2,"0 205 205 205 205 205 205 205 205 206 205 205 205 720 60 60 60 60 60 60 60 60 60 60 60 60 5,400 450 450 450 450 450 450 450 450 450 450 450 450 42,315 3526 3,526 3526 3,526 3,526 3,526 3526 3526 3526 3,526 3,526 3526 1,200 100 100 100 100 100 100 100 100 100 100 100 100 4,425 0 0 200 3.000 200 200 200 125 125 125 125 125 600 50 50 50 50 5C 50 50 50 50 50 50 50 2,100 175 175 175 175 175 175 125 175 175 175 175 175 735 0 0 0 0 0 0 35 400 300 0 0 0 600 0 0 0 X0 50 50 50 50 50 50 0 0 1,200 100 100 100 100 100 100 100 100 1W 100 100 100 Z925 25 75 75 750 750 750 75 75 75 75 35 75 6,500 0 0 500 50C 4,000 500 500 500 0 0 0 0 no 25 25 25 25 25 25 25 25 25 25 25 25 700 0 0 0 50 50 50 300 50 50 50 50 50 225,134 6087 0427 19,401 14,507 23,0]] 24,7T 31.137 29,9]] 24,327 21677 11,6T 9,977 91 0 0 0 2,500 1600 0 2, 500 500 500 500 1000 500 no 0 0 0 0 50 50 50 50 50 50 50 255,769 6,612 8,952 20,63E 22,137 29,627 26,821 35,297 32,177 25,927 22,9n 13,427 11,1T! 298p84 10, 138 11,08 2/, 158 25,663 33,153 30,353 3$823 35,703 29,453 26,503 16,953 14,703 PromotioNMeals - OH property events (Chamber Mixers, Rotanes and entertaining potential clients) PromOIIONMedraArerater Days - RadroRV Doi Smadjaii Vendor Days - Show casing property rn exd ange for positive pubtialy r n 2008-2009 ANNUAL PLAN 5nverRock Resort n1nRi<Ennc nYnP^IM a> a PM Projec8ons-JuIy208810 June 2009 PREPAREn BY L+vlmvM frill TEMPORARY CLUBHOUSE-000 TOTAL JUL AUG SEP OCT NOV. DEC JAN FEB MAR APR MAY JUN. SMPPLIESAND MATERIALS aW 4W 4W 400 aW 400 Expendable Supplies 4,800 400 4W 400 4W 4W 4W TOTAL SUPPLIES AND MATERIALS 4,800 400 4W 400 4W 4W 400 4W 4W 4W 400 4W a00 RFR rR ANDMAINTENANCE 2,400 200 2W 200 200 200 200 2W 2W 2W 200 2W 2W B.udmg Structures 4,800 400 400 400 4W 400 400 4W 4W 400 400 4W 4W Restaurant Repairs Equlpment Repair 4,800 4W 400 400 400 400 400 aW 4W 4W 400 400 4W TOTAL REPAIRS AND MAINTENANCE 12,000 1000 1 0W 1000 t WO 10W 1000 10W 1 GW 1 oW 1 W0 1 pW 1 WO OTHER EXPENSES Comeau Services Clearing 22,500 1825 1825 1825 2425 1,825 1825 1825 1825 1825 1825 1825 1,825 12,000 1OW 10W 1,0W 1,W0 1000 1OW 1,000 1,0W 10W 1C00 1OW 1000 Telephone 0,800 317 317 317 312 317 317 317 317 317 317 317 317 Cable -Roadrunner 2,400 200 200 200 200 2W 200 2W 200 zoo 200 200 200 Water 2,400 200 2W 200 200 2W 200 200 2W 200 200 200 2W Sewer 1,ID0 100 1 W 100 100 1 W 1 W 1 W 1 W 100 100 I(X) 100 Safety Equipment 3,800 300 3W 3W 300 3W 3W 303 3W 3W 300 300 300 Natural Gas 2,800 100 1 W 100 100 100 100 1, Wo 1 W 100 100 1 W 1 W Flowers and Decorations 98,400 8,200 82W SSW 8200 82W a 82W 8200 82W 82W 82W 8,200 Building Sewnty(Rovmg Patrol) 200 2W 200 2W 200 200 2W 200 Miscellaneous 2,400 200 2W 2W 2W TOTAL OTHER EXPENSES 151,300 12442 12,442 12442 13,042 12,442 12442 13,842 12,442 12,442 12,442 12,442 12442 TOTAL CLUBHOUSE EXPENSES 13.84 13, 1 842 14,44 13, 1 , 2 1 , 42 13,842 13. 13,84 13842 13.84 Expendable Supplies made up of Locksmith, Trashbags, LigMbulbs, Mats Items related to Mememance of Clubhouse 18 2008-2009 ANNUAL PLAN Sill verRock Resort Projections - July 2008 to June 2009 RUN DATE IIJ Ali N R IJ AN PREel.Eo BV I-�-. U.UM, MISO DEPARTMENT-9808990 TOTAL JUL AUG SEP. OCT NOV DEC JAN FED MAR APR MAV JUN. YFixed �YY`+ 9g000 29,430 22,OG 12, 394 9,370 (7681) 10686 %3 (4625) (9,0481 (3887) 82]] 21]59 Management Fee 76,139 2285 2228 3,884 1267 7881 6,728 6134 11524 1331B 10,355 6,135 3401 FF&E Reserve (20 ) 42.000 3500 3500 3,500 3500 3500 3500 3500 3500 3500 3500 3500 3,500 General Welty Insurance 0 0 0 0 0 Personal Property Taxes ID,000 0 0 0 0 20 WO 0 0 227,138 35,216 28p90 19,]]8 14,13] 23,]00 20,914 10,496 10,399 7,T]0 9,968 17,912 28,660 t EAS EX�CssC Gon Cart Leases 138,972 11581 11581 11,581 11,561 tt 581 11581 11,581 11,581 11,581 11,581 11,581 11581 Trailer Leases ],M) 600 500 IUD 600 600 600 600 600 600 600 61)D 600 18,300 1, 525 1 525 1,525 1.525 1 525 1 525 1,525 1,525 1 525 1.525 1,525 1,525 Computer I Software Lease 88,800 ] 4W ] 400 7.400 7.400 7,400 7,400 7,400 7,400 ],400 ]40 ] 400 7,400 GPS Lease (Up Link) Golf Course Maintenance Equipment Leases 240,000 20000 20,000 20,000 20000 20,000 20,0K)0 20,000 20000 20,000 20.000 20.000 20000 493,272 41,106 41,106 41,106 41p06 d1,106 41,106 41,Y06 41,106 d1,106 H,106 61,106 41,106 • N Q � 19 20N-20M ANNUAL PLAN s,me,Roex aeson RI'N DATE. O4-Ap, 0. 10:13 AM oropaw..-�.ry xppe �o i.o. xoas _ PREPAREDBY Izndmapk"fMa0*emen, FOOD 8 BEVERAGE DEPT-62 _ _ TOTAL JUL _ y AUG. _ SEP_ OCT. - NOV T _ JAN FEB _ T MAR -APR _ MAY _ JUN-' DEC_ y _ -NUM TOTAL NUMBER OF ROUNDS 41,150 2,100 2,100 J,2W 800 4,100 3,600 2,600 5,100 5,900 5,400 d,000 2,200 GRILL ROOWERRACE AVERAGE FOOD REVENUE PER ROUND $4.48 $225 S300 S300 slow $500 $4W $]50 $4W 5425 $400 $375 $300 TOTAL SNACK SHOP FOOD REVENUE 171,850 4]25 6300 9,]50 8000 20.5W 144W 19, 500 20400 25.0)5 21,600 15 W0 6fi00 BEVERAGE_CARTc AVERAGE FOOD REVENUE PER ROUND $1." 51]5 $175 $225 53W S200 $225 $250 $125 $1 ]5 $125 $125 $125 TOTAL BEVERAGE CART FOOD REVENUE ]3,613 3675 3675 7313 2400 8200 8,1W 6,500 8925 10325 6750 90W 2.750 AVERAGE FOOD$ PER ROUND 5400 $475 $525 $13W S700 $625 $1000 $575 $600 $525 $500 8425 ER 41,150 2,100 2,100 3,250 B00 6,100 3,600 2,600 5,100 5,900 5,400 4,000 2,200 TOTAL NNUF ROUNDS NUMBER OOF RILL ROOWT RE RACE AVERAGE BEVERAGE REVENUE PER ROUND $2.79 $1 00 $1 00 $200 54 50 $500 $2 W $6 W $250 83 W $300 $1 ]5 $i ]5 TOTAL SNACK SHOP BEVERAGE REVENUE 115,100 2,100 21W 6W0 3,6W 205W 7 2W 156W 12750 11700 162W 7060 38W 46.14% fiEVERAGELARIS AVERAGE BEVERAGE REVENUE PER ROUND $Ln $200 $2 W $200 $4 W $3 W $3 W $6 W 54 W $3 W $300 $3 ]5 $3 ]5 TOTAL BEVERAGE CART BEVERAGE REVENUE 134,350 4,200 4,200 65W 3200 12,300 10800 15 WO 204W 1],]W 162W 15,W0 82 AVERAGE BEVERAGE$ PER ROUND $ 53.86% 12.46 $300 $3W $400 $850 $8W $5W $12W S6W SSW So $550 $550 r t N O 20 nalf-2009 ANNUAL PLAN srNeravca xenon R1 S DATF 04-%Pr06 10 13 AM cropnione-Juy loosen June iws PRFPARLD 91' I.ArtlmnM Golf Mnnagemem F FOOD&BEVERAGE DEPT-62 TOTAL JUL AUG SEP OCT NOV DEC JAN __FEB MAR APR_ MAY _� _ JUN FOOD REVENUE Snarl Shopatrrace Ford 171,850 4,725 6300 9750 sow 20500 144W 19,500 20400 25075 21600 15,000 6600 Beverage Can Food 73,613 3,575 3675 7313 24N 82W 8100 6500 8925 10325 6750 5,000 2]50 Other Ford Income 0 0 0 0 0 0 0 0 0 Non -Taxable Tournament Site Fees 0 0 0 0 0 0 0 0 0 0 0 a M¢c Non-Taxdble Site Fee. (Weddings) 12,495 0 0 23K ),060 3W5 0 0 0 0 0 0 TOTAL FOOD REVENUE 257,958 6,400 9975 19413 17,460 31785 22.50o 26,000 29325 35400 28350 20.000 9350 @EyERAOE REVENUE Snack Shop/rereace Beer B Who 57,550 1,050 1,050 3250 1800 10250 3CFX TWO 6,375 B650 8100 3,500 1925 Snack ShopRerraae Sodas 57,650 1050 1OfO 3,260 1,800 10250 36M 7,800 6375 8850 8,100 3,500 1925 Beverage Cart Beef &Wine 67,175 2, 100 2,1W 3250 1600 6,150 5400 7,800 10,2W 8850 8,100 75M 4125 Beverage Cart Sodas 6),1)5 2,100 2,100 3250 1,600 6,150 5400 7,800 10,200 88M 8100 7,600 4, 125 TOTAL BEVERAGE REVENUE 249,450 6,300 6300 13060 6800 32,111 18000 312 0 33156 35400 324W 22.000 12100 TOTAL FOOD& BEVERAGE REVENUE 50),408 14,T00 16,2)6 02,413 21,2W eg685 4QSW 67,256 62,4)5 )0,800 60,)50 02,000 21,466 LESS COST OF SAS od COS -Fo(3)%) 90,821 3,108 3691 6,313 3,848 10619 8,325 62 9,0 10,850 13098 104% ],400 3,460 COS -Baer&Wine(25%) 31,181 788 788 1,625 850 4,100 2,250 3,900 4,144 4425 4,050 2750 1513 COS - Sodas (2]%) 33,676 851 851 1755 918 4,428 24W 4,212 4475 4]]9 4374 2970 1634 TOTAL COST OF SALES 165,678 4746 5329 9,693 5,616 19, 147 13,005 1],) 2 19,469 302 18914 13.120 6606 GROSS PROFITS .T19 18,641 45, 3),4-- s�468- 4�. ,9 __4,837 28, 1, --- SALAgfES ANOBENEF� Salaries and Wages 188,OT4 15147 15, 147 16869 8.558 16,107 16292 16,763 16,763 16903 16903 16578 16543 Payroll Taxes 24,280 1.956 1956 2,113 1.105 2079 2103 2, 164 2,164 2.182 2, 182 2, 140 21M WorkersCompensa00n 15,422 1,242 1242 1342 702 1321 1,336 1375 1375 13M 1, 386 1,359 13% Employee Meals 6,960 61,800 sae 4,050 Sad 4050 54o 4050 sdd 4,500 sod 5,700 ade 5700 sod 5.700 are 5700 sFF 5,700 sde 5,700 sdd 5,700 mD 5,250 Health Insurance TOTAL SALARIES AND BENEFITS 296,5]6 22,935 - �935 24414 15.465 fESher 26032 26,602 266W 26 )]t 26,]]1 263)8 25625 SUPPI IES AND MATERIAL S Expendable Suppies 10,720 520 620 620 870 870 870 2.500 750 750 750 750 750 Bar Utensils 1,4s0 350 100 100 100 100 100 100 100 100 100 100 100 Menus NapWns and Placemats 3,825 175 175 175 500 250 250 550 350 350 350 350 350 TOTAL SUPPLIES AND MATERIALS 55,996 1,145 895 895 1, 4)0 1220i220 3150 1200 1200 12W 1200 1.200 R PAIR ANOMAINTENAN(:E Equipment Repair 2,4D0 200 200 200 200 200 200 200 200 200 _ 200 200 200 TOTAL REPAIRS AND MAINTENANCE XPENSE$ 200 200 200 MO 200 200 2W 200 200 200 200 200 200 OTHER E Ofhce Supplies 1,500 100 100 100 250 250 100 100 100 100 100 100 100 Phone 848 70 70 70 70 70 70 TO 70 70 70 70 70 Egwpmpit Rental 1,308 1SO 109 150 150 150 109 109 109 150 109 150 109 Non -Capital Equipment 600 50 50 50 5() 50 50 50 50 50 50 50 50 3,650 150 150 0 500 150 550 1 Ed Lun,forriaundry Laundry add Linen 400 2W 250 400 4 400 ,500 400 400 400 400 4W Lease Payment 2,000 12,000 500 500 525 500 500 1,525 1$25 1 525 1,525 t 525 500 t 525 500 525 500 525 500 00 525 Searing 250 250 25 25 25 350 25 350 25 350 25 350 25 350 25 3W 25 350 25 350 STraining Cleaning 200 4,200 350 350 350 350 350 Lenses antl Pelmns add Pas 6,400 1,500 6125 125 125 125 125 125 125 125 900 125125 125 125 125 MrscellALOT TOTAL OTHER EXPENSES 36,T98 W4 �fiO4 1879 2,104 33]9 J,029 3229 2.8]9 2879 3]]9 2279 1,879 1p` i8]9 TOTAL EXPENSES 351,]29 31,884 25,909 21613 20,514 30,29 30681 32,831 30,881 31950 30450 29657 29,104 TOTAL FOOD 4 eeveFame Paoen(Laezi SA -(1 3) (4 iS (1 ) 5 - 31 ) &337-12125 165�� 1�38] �771�TT42v� Suppbes Expendable Is made up of Smallwares, Papergoods, first -aid Uniforms- Each employee receives 4 shins, 1 hat per season N � 21 SilverRock Resort 2008-2009 Marketing Plan Narrative OBJECTIVE: To expand brand awareness for SilverRock Resort, promote the Arnold Palmer Classic Course as a premier golf course in the Coachella Valley and increase golf and golf -related revenues. The July 2008-June 2009 Marketing Plan is built around an annual Marketing Budget of $298,084. The plan includes: Advertising and promotions, collateral materials, civic and community networking, public relations, golf/consumer trade shows, and internet websites and e-mail marketing. ADVERTISING and PROMOTIONS Advertising and promotions are targeted for La Quinta Residents and tourist/resort golfers through advertising and media coverage in local, regional and Southern California golf and travel publications. Advertising consists of local newspaper, golf and travel magazines, regional directories, local television, area radio, and a rotating local billboard. Advertising is budgeted at $225,134 for 2008-2009. Newspaper advertising is placed in The Desert Sun with primary emphasis on the sports enthusiasts with weekly "ear ads" appearing on the front page of the Sports Section; ear ads are visible to all readers of the paper. Newspaper advertisement makes up 10% of the Marketing Budget. Special promotions are designed, as needed by season, and placed in the various print advertisements. Magazines and directories consist of local and regional magazines, yellow pages and golf -related directories. These ads vary from full page to quarter page ads and are full color. Magazines and directories compose half (50%) of the advertising budget. Television commercials (30 seconds) are placed on all three local network affiliates (CBS2, KESQ3-ABC, KMIR6-NBC) and Time Warner cable stations. Local radio is used for 30-second spots and specific promotions. TV and radio ads make up 15% of the advertising budget. Billboard advertising is 20% of the advertising budget and is designed to reinforce other ad programs and catch the attention of those who may not see other types of ads. The program involves a rotating billboard; every two months the location changes within the valley. The billboard ad is 10.6 feet tall and 36 feet wide. The billboard graphic design will be updated so that the SilverRock information (tee' times, website, phone number, etc.) is easier to read. zz 207 COLLATERIAL MATERIALS Rack cards, scorecards, and information packets on SilverRock Resort are used as marketing tools for SilverRock Resort. An emphasis will be placed upon SilverRock's participation in the Bob Hope Chrysler Classic. Printed material will be produced, as needed, to promote SilverRock Resort as a Home Course of the Bob Hope Chrysler Classic. CIVIC AND COMMUNITY NETWORKING AND TRADESHOWS SilverRock Resort is positioned as a community -friendly golf facility and is committed to developing strong relationships with community organizations such as the La Quinta Chamber of Commerce and various local service organizations. At various venues locally and around Southern California, trade shows and expos are held that provide an opportunity to promote SilverRock Resort. These trade shows and expos are focused on tourism, golf and golf equipment/apparel, recreation, weddings and other related businesses. INTERNET WEBSITES AND E-MAIL MARKETING A benefit of memberships in selected local chambers of commerce and the Convention and Visitors Authority is access to cross -marketing opportunities through website links to SilverRock Resort. E-mail database marketing is targeted to consumer e-mail addresses that are collected daily through comment cards, tee -time bookings, selected websites and the La Quinta Resident renewal process. This e-mail database is used to send e- mail blasts promoting SilverRock Resort and/or to offer specials during slower days of the seasons in an effort to maximize tee sheet utilization. JUNIOR GOLF SilverRock will continue to support local Junior Golf by offering various Summer Junior Camps, Junior Rates and being a host course for the La Quinta High School Boys Golf Team. TOURNAMENTS & GROUP OUTINGS A continued concentrated effort to attract corporate and group outings will be positioned through various networking opportunities. Tournament business represents a large amount of outside play and is vital to SilverRock's success. 23 . 0Q SilverRock Resort -Arnold Palmer Classic Course PROPOSE vG1d '44`!,S ....:._. Reservation Type (Book 90 Daysl Public Public Twi Replay (Booked After Rod) (Book 3 Days) La Ouinta Resident La amine Resident Gue9120%off posted rate) (Book 90 Daysl Wholesale Wholesale Twilight (Book 1 Day) PGA PAID Junior Rate (Before 2 00 p m ) Junior Rate (After 2 00 p m ) (Book 1 Dayl 2008 2008 July I-Sept.20 July ISept. 20 Mon,Thurs Fri -Sun $ 5500 $ 6500 $ 40 W $ 50 00 $ 2500 $ 2500 $ 3000 S 3000 $ 44.001 $ 52.00 $ 3000 $ 30.00 $ 68.00 $ 84.00 $ 4500 S 45.D0 $ m�1 t.t$T I $ ....._ 10000 2009 2009 Dec. 26-Apr 30 Dec. 26-Apr. 30 Mon-Thurs Fn-5un $ 16500 $ 16500 $ 9500 $ 9500 $ 5000 $ 5000 $ 55.00 $ 5500 $ 13200 $ 13200 4 4 200E 2009 2009 May 1•June 30 M iJune 30 Mon-Thurs Fri -Sun $ 85.00 $ 105.00 $ 6500 $ 7500 $ 35,00 $ 35.00 $ 45.00 $ 45.00 $ 68.00 $ 9400 $ 1 0 .00 $ 60 $ 75� $ BSDO Is , t{Kk. $ tutW 1 $ 135.00 $ 135 00 $ 75.00 $ 85.00 $ 3000 $ 3500 $ 5000 $ wbut $ 65ti6 $ _biblUJ $ 7500 $ 15no $ 40.00 8 SS.W $ 2500 $ 2500 $ 25.00 1 25.00 $ 1000 $ 1000 $ 25.00 $ 25.00 $ 25.00 $ 25,Nb $ _ 151 $ 15.00 3xw forS, 35z ll $ 15;,W $ _ 95W $ 35.00 $ 35 00 $ 25 00 $ 25 00 $ 1500 $ 1500 $ 2500 $ 25.00 $ 25.00 $ 25.00 $ 15.00 $ 15.00 Stand By Goff Rates to vary based upon actual bookings Rates to vary based upon actual bookings Rates M vary based upon actual bookings Rates to vary based upon actual bookings Rates to vary based upon actual bookmk (Book Up to 1 Year) Groups 13Negotiated Rates Negotiated Rates Negotiated Rates Negotiated Rates Negotiated Rates Negotiated Rates ' Juniors are 17 and under ' All rates to include green fee, golf cart, limited amount of range balls prior to round, except golf cart for Juniors * Non gothars-tide alongs-must abide by dress code, riders permitted based upon availability at a rate of $25 per rider ' CRy Employees -Prevailing Resident Rates OTHER FEES Range Not Playing Rate/i 1 hour $ 1000 Rental Clubs $ 45.00 Handicap Membership S 4500 Goff Lessons 1 Hour $ 7500 1Rhour $ 5000 24 Negotiated Rates Negotiated Rates Negotiated Rates Negotiated Rates Competitive Rates Coachella Valley November -December January -April Golf Course Mon-Thurs Fri -Sun Mon-Thurs Fri -Sun PGA West (Stadium, Nicklaus, Mountain) Public $ 155.00 $ 155.00 $ 235.00 $ 235.00 Twilight $ 85.00 $ 85.00 $ 115.00 $ 115.00 Classic Club Public $ 145.00 $ 165.00 $ 195.00 $ 195.00 Twilight $ 95.00 $ 110.00 $ 175.00 $ 175.00 Indian Wells Resort Public $ 125.00 $ 125.00 $ 185.00 $ 185.00 Twilight $ 60.00 $ 60.00 $ 100.00 $ 100.00 SilverRock Resort Public $ 125.00 $ 125.00 $ 165.00 $ 165.00 Twilight $ 80.00 $ 80.00 $ 95.00 $ 95.00 Desert Willow Resort Sunrise (Open-7.55 a m) $ 135.00 $ 135.00 $ 135.00 $ 135.00 Prime(8.00-11:55a.m.) $ 135.00 $ 135.00 $ 175.00 $ 175.00 Midday (12:00-100 p.m) $ 100.00 $ 100.00 $ 135.00 $ 135.00 Twilight (100- 155 p.m.) $ 75.00 $ 75.00 $ 95.00 $ 95.00 Sunset (After 2:00 p m) $ 65.00 $ 65.00 $ 65.00 $ 65.00 Westin Mission Hills Resort Public $ 135.00 $ 135.00 $ 165.00 $ 165.00 Twilight $ 67.50 $ 67.50 $ 82.50 $ 82.50 Shadow Ridge Public $ 115.00 $ 115.00 $ 170.00 $ 170.00 Twilight $ 75.00 $ 75.00 $ 110.00 $ 110.00 a Trilogy Public $ 99.00 $ 119.00 $ 130.00 $ 155.00 N Twilight $ 60.00 $ 70.00 $ 72.00 $ 85.00 Y 25 l.7 SILVERROCK RESORT ANNUALPLAN 2008-2009 Bob Hope Assumptions OPERATIONAL EXPENSES Revenue: It is assumed that the golf course will close for public play on Sunday, January 18, 2009 for the Bob Hope Chrysler Classic and reopen for play on Sunday January 25, 2009. The golf course will be closed for a total of seven (7) days per the tournament contract. This loss of seven (7) days of revenue has been factored into the 2008-2009 Annual Plan for SilverRock Resort and amounts to a loss of approximately $150,000 in revenue and 1,500 rounds of golf. Any additional days of course closure will impact the revenue budget for the month of January 2009. Wages: It is assumed that the SilverRock Resort golf course maintenance crew of 30 employees will work an additional 41 hours of overtime per person in the month of January to ensure PGA Tour course standards. Also, additional payroll taxes and workers compensation insurance will be an added expense as a result of the extra hours worked. Supplies and Materials: Two (2) extra fertilizer applications (December and January) will be needed to ensure top quality turf conditions. Additional seasonal flowers and plants will be added at the entrance and clubhouse area. Also, additional sand will be required to ensure all sand bunkers on the course are consistent and are in compliance with PGA Tour standards. Additional seed will be required to be in compliance with PGA Tour standards; a heavier seed rate will be used when overseeding the fairways, tees and greens in the fall of 2008. If there are areas on the course that do not meet PGA Tour standards, these areas must be sodded prior to the tournament. Other Expenses: Additional maintenance equipment may be rented short term to get the course ready for PGA Tour standards. Also, additional green waste removal will be required when removing additional course debris. 26 *.:. 211 20M20M ANNUAL PLAN SOverRock Resort 6t v pra. SaNeNN U ax eN Prolec0ons-Ju1y2008 to Jurri vareaae0al ramm..x t,xr nt.o,x.o.m SUPPLEMENTAL BOB HOPE EXPENSES MAINTENANCE OEPAflTMENT fi] TOTAL JUL AUG SEP OLT � NOV DEL JAN FEB. MAfl. APR I MAV ( JUN. SALARIES AND BENEFITS Salanes and Wages 0 0 0 0 0 0 0 0 0 0 0 0 0 Overtime Hourly Wages (41 hours at 30 employees) 15,600 0 0 0 a 0 0 15000 0 0 0 0 0 Payroll Taxes 1,868 0 0 0 0 0 0 1 868 0 0 0 0 0 WorkersCompensation 820 0 0 0 0 0 0 820 0 0 0 0 0 TOTAL SALARIES AND BENEFITS 17,688 0 0 0 0 0 0 17,688 0 0 0 0 0 SUPPLIES AND MATERIALS Fertd¢er 22,000 0 0 0 0 0 11 000 11,000 0 0 0 0 0 FlowersrPlants 2,000 0 0 0 0 0 2000 0 0 0 0 0 0 Sand/Bunker 30,000 0 30,000 0 0 0 0 0 0 0 0 0 0 Seed 25,000 0 0 0 0 25,000 0 0 0 0 0 0 0 Spd 6,000 0 0 0 0 2,000 4 000 0 0 0 0 0 0 TOTAL SUPPLIES AND MATERIALS 85,000 0 mi 0 0 27,000 17,000 11,000 0 0 0 0 0 OTHER EXPENSES Equipment Rental 14,200 0 0 0 0 0 0 14200 0 0 0 0 0 Green Waste Removal 0 0 0 0 0 0 0 0 0 0 0 0 0 TOTAL OTHER EXPENSES 14,200 0 0 0 0 0 0 14,200 0 0 0 0 0 TOTAL COURSE MAINTENANCE EXPENSES 116,888 0 30,000 0 0 27,000 17,000 42,888 0 0 0 0 0 a I + 27 N r 2008-2009 ANNUAL PLAN SilverRock Resort RUN DATE: 24-M,08 09:24 AM Projections - July 2008 to June 2009 PREPARED BY: LxodmarA c:mf M... ement Front Entrance Landscaping I TOTAL JUL. j AUG. I SEP. I OCT. I NOV. I DEC. I JAN. I FEB. MAR. APR. MAY JUN. Employee Count Landscapers $ 8.25 2 2 2 2 2 2 2 2 2 2 SALARIES AND BENEFITS Salaries and Wages 34,320 2,860 2,860 2,860 2,860 2,860 2,860 2,860 2,860 2,860 2,860 2,860 2,860 Payroll Taxes 4,272 356 356 356 356 356 356 356 356 356 356 356 356 Workers' Compensation 3,432 286 286 286 286 286 286 286 286 286 286 286 286 Employee Meals 0 0 0 0 0 0 0 0 0 0 0 0 0 Health Insurance 4,512 376 376 376 376 376 376 376 376 376 376 376 376 TOTAL SALARIES AND BENEFITS 46,536 3,878 3,878 3,878 3,878 3,878 3,878 3,878 3,878 3,878 3,878 3,878 3,878 SUPPLIES AND MATERIALS Fertilizer 1,800 150 150 150 150 150 150 150 150 150 150 150 150 Flowers/Plants 1,500 0 0 0 750 0 0 0 0 0 0 750 0 Pesticides 1,200 100 100 100 100 100 100 100 100 100 100 100 100 Seed 500 0 0 0 500 0 0 0 0 0 0 0 0 Miscellaneous 1,200 100 100 100 100 100 100 100 100 100 100 100 100 Uniforms & Linen/Towels 360 30 30 30 30 30 30 30 30 30 30 30 30 Irrigation Systems 1,200 100 100 100 100 100 100 100 100 100 100 100 100 TOTAL SUPPLIES AND MATERIALS 7,760 480 480 480 1,730 480 480 480 480 480 480 1,230 480 Total Front Entrance Landscaping 54,296 4,358 4,358 4,358 5,608 4,358 4,358 4,358 4,358 4,358 4,358 5,108 4,358 PIS