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Annual Plan FY 2024-2025 SilverRock Resort
BUSINESS SESSION ITEM NO. 3 City of La Quinta CITY COUNCIL MEETING: June 17, 2025 STAFF REPORT AGENDA TITLE: APPROVE SILVERROCK RESORT 2025/26 ANNUAL PLAN RECOMMENDATION Approve the SilverRock Resort 2025/26 Annual Plan. EXECUTIVE SUMMARY • Landmark Golf Management LLC (Landmark) manages the SilverRock Resort golf course and is required to provide an annual operations plan for Council's review and approval. • The SilverRock 2025/26 Annual Plan (Plan) (Attachment 1) reflects the projected number of rounds, revenues, and operation costs. • The golf operations are projected to have a net loss of $496,000 due to several factors including increased operational expenses, allocation of resident card sales revenue, and continued on -site construction. FISCAL IMPACT The General Fund is projected to underwrite $600,000 of the overall fiscal year (FY) 2025/26 SilverRock expenses. The projected golf operations expenses (not including City staff oversight costs) are $5,657,771; and projected golf operations revenue is $5,161,510 for a net loss of $496,261. The City will also fund $305,000 for golf course and non -golf course management/oversight by City staff and will recognize $150,000 in resident card revenue, which is not currently listed in the Plan. All revenue and expenses will be included in the proposed FY 2025/26 City Budget. SilverRock Golf Course FY 2025/26 Operations Revenue $5,161,510 Operations Budget -$5,657,771 Net Revenue ($496,261) SilverRock Property Management/Oversight FY 2025/26 General Fund Advance 600,000 City Management/Oversight -305,000 Resident Card Revenue 150,000 Golf Course Net Revenue -496,261 Final Surplus/(Deficit) (51,261) 283 BACKGROUND/ANALYSIS In July 2013, the City entered into a Golf Course Management Agreement (Agreement) with Landmark. The Agreement requires an annual plan for golf operations. The Plan provides projected annual revenues and expenses, department costs, staffing and service levels. In 2023, Council approved Amendment No. 6 to the Agreement, extending the term through June 30, 2026. The Plan forecasts continuing the food service from the Ahmanson House and continuing the pro -shop from the temporary club house until the permanent club house opens. Additional assumptions include: • 41,445 rounds of play with an average projected revenue of $113.89 per round, based on the total revenue (less food and beverage) divided by the total rounds. The average green fee is $104.43. The difference between revenue per round and the average green fee is the additional revenue generated from merchandise sales, and revenue from the driving range, including lessons. Revenue from the food and beverage operations is not included. • No increase to the minimum wage is projected at this time. • Continuing the 2% annual contribution of approximately $87,000 to the capital reserve as contained in Amendment No. 2 to the Agreement. The current balance of the capital reserve is $740,000. • Increasing the annual management fee by 5% pursuant to Amendment No. 6. The proposed advertising budget is $113,787 and is included in the Marketing Department expenses ($173,662) on page 18 of the Plan. SilverRock will continue to be promoted as a premier golf destination, especially during hotel construction, via the internet, newspapers, magazines, directories, television, and radio. ALTERNATIVES Council may direct staff to make modifications to the Annual Plan. Prepared by: Approved by: Claudia Martinez, Finance Director/City Treasurer Jon McMillen, City Manager Attachment: 1. SilverRock Resort 2025/26 Annual Plan 284 ATTACHMENT 1 Si LVERROCK® RESORT SilverRock Resort -Arnold Palmer Classic Course 2025-2026 ANNUAL PLAN Prepared For: City of La Quinta SilverRock Resort Prepared By: Landmark Golf Management Submitted: May 20, 2025 285 SILVERROCK RESORT Annual Plan Fiscal Year 2025-2026 Table of Contents Part I -Project Overview Project Fact Sheet 1 Mission Statement 2 Philosophy Statement 3 Organizational Chart 4 Key Employee Staffing 5 Part II -Assumptions 2025-2026 Assumptions 6, 7, 8, 9 Part III -Operational Financial Projections 2025-2026 Consolidated Income Statement 10 Part IV -Department Detail Golf Rounds and Revenue 11 Golf Shop / Merchandise 12 Carts, Bagroom & Range 13 Course Services 14 Golf Course Maintenance 15, 16 General & Administrative 17 Marketing 18 Clubhouse 19 Miscellaneous 20 Part V-Food and Beverage Department Detail 21 Part VI -Other Marketing Narrative Plan 22, 23, 24 286 SI LVE RROCK F' ES OR T 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 1-760-777-8884 WEBSITE MANAGEMENT WWW.SILVERROCK.ORG Randy Duncan, PGA, Director of Golf / General Manager Chris Hoyer, Golf Course Superintendent COURSE YARDAGE SILVER 7,239 PAR 72 GOLD 6,809 PAR 72 BLUE 6,313 PAR 72 WHITE 5,669 PAR 72 GREEN 5,089 PAR 72 RED 4,542 PAR 72 GRASS TYPES GREENS: TIF DWARF / MINIVERDE FAIRWAY / TEES: TIF SPORT / 419 / LATITUDE 36 ROUGHS: TIF SPORT / 419 / LATITUDE 36 OWNER CITY OF LA QUINTA MANAGED BY LANDMARK GOLF MANAGEMENT, LLC 74-947 HIGHWAY 111, SUITE 215 INDIAN WELLS, CA 92210 PHONE: (760) 776-6688 DATE COURSE OPENED February 14, 2005 287 SILVERROCK RESORT Annual Plan Fiscal Year 2025-2026 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 have each Department operate within their annual budget allowing SilverRock Resort to reach the net operating goals 288 SILVERROCK RESORT Annual Plan Fiscal Year 2025-2026 PHILOSOPHY STATEMENT After twenty 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 four successful years as one of the home courses of the Bob Hope Classic. As the 2025-2026 Annual Plan is implemented, SilverRock will embark on its 21 st year of operations. Focus will continue to be on broadening the awareness, marketability and noteworthiness of SilverRock Resort's Arnold Palmer Classic Course, golf facilities and amenities. 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 twelve months of operations, Landmark Golf Management will put forth every effort to best 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. 289 Annual Plan 2025-2026 SRR.xls City of La Quinta City Council & Staff City Manager Landmark Golf Management Management Team SilverRock - Randy Duncan General Mgr. / Director of Golf Golf Shop Head Golf Professional Golf Course Maintenance Superintendent Asst. Golf Professionals Golf Shop Buyer Sales Associates Guest / Outside Service Outside Services Manager Carts/Bag Room Starters/Rangers ShuttleNalet Driving Range Accounting Controller / Human Resources Asst. Superintendent Irrigation Technician Spray Technician Greenskeeper(s) Administrative Asst. Food & Beverage F&B Manager Admin. Asst. To Controller & GM Marketing & Sales Tournament Sales Manager Restaurant F&B Server(s) / Cart Attendent(s) 290 Key Employee Staffing 2025-2026 ANNUAL PLAN RUN DATE: 20-May-25 PREPARED BY: Landmark Golf Management DEPARTMENT SUMMARY JUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN. GOLF OPERATION OUTSIDE SERVICES OUTSIDE SERVICES MANAGER (FULL TIME; OUTSIDE SERVICES SUPERVISORS (FULL-1 DRIVING RANGE (PART-TIME) CART/BAGNALET/BAG DROP (FULL-TIME) CART/BAGNALET/BAG DROP (PART-TIME) SHUTTLE DRIVER (PART-TIME) 3 3 4 1 1 1 1 9 2 1 1 1 1 9 2 1 1 2 1 9 2 1 1 2 1 9 2 1 1 2 1 9 2 2 9 2 1 1 1 1 8 0 1 1 1 1 4 0 8 9 11 15 15 16 16 16 16 12 GOLF SHOP HEAD GOLF PROFESSIONAL (FULL TIME) 1 1ST ASSISTANT PROFESSIONAL (FULL TIM 0 MERCHANDISER (FULL TIME) 1 ASSISTANT PROFESSIONAL (FULL TIME) 1 SALES CLERKS (FULL TIME) 02 SALES CLERKS (PART TIME) COURSE SERVICES STARTERS (PART TIME) RANGER/MARSHALS (PART TIME) 2 1 1 1 1 1 1 0 o 0 0 0 0 11 1 1 1 1 1 1 1 1 1 1 0 0 1 1 1 1 3 4 4 4 4 4 1 1 131 1 1 1 1 1 0 4 4 4 0 0 2 5 5 6 7 8 8 8 8 8 8 7 3 31 3 3 1 1 5 5 5 5 5 5 5 5 3 5 4 3 4 4 4 4 10 10 10 10 10 10 9 6 GOLF COURSE MAINTENANCE SUPERINTENDENT (FULL TIME) 1 ASST SUPERINTENDENT (FULL TIME) 1 FOREMAN/SPRAY TECHNICIAN (FULL TIME 1 HEAD MECHANIC / FACILITY MANAGER (FL 1 ASST MECHANIC (FULL TIME) 1 HEAD IRRIGATOR (FULL TIME) 1 ASST IRRIGATOR (FULL TIME) 1 GREENKEEPERS (FULL TIME) 8 GRENSKEEPERS (PART TIME) 3 3 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 8 9 9 9 3 3 3 3 9 3 1 1 1 1 9 9 3 3 9 3 9 8 3 3 TOTAL COURSE MAINTENANCE STAFF 18 18 18 19 19 19 19 19 19 19 19 18 FOOD & BEVERAGE F & B MANAGER / SUPERVISOR (FULL TIME 0 CHEF (FULL TIME) 1 COOK (FULL TIME) 1 PREP COOK (PART TIME) LEAD SERVER (FULL-TIME) 1 F & B WAIT/BEVERAGE CART/HALF(FULL TII 1 F & B WAIT/BEVERAGE CART/HALF(PART TI 2 BUSER / DISHWASHER (PART TIME) 0 G&A DIRECTOR OF GOLF/GM (FULL TIME) CLUB CONTROLLER (FULL TIME) ADMINISTRATIVE ASSISTANT (FULL TIME) 2 0 0 0 0 0 0 0 1 1 1 1 1 1 2 2 2 2 2 1 0 1 2 2 3 3 3 3 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 2 1 3 4 4 4 4 3 2 0 1 1 1 1 1 1 1 6 6 7 6 10 12 13 13 13 12 9 5 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 3 3 3 3 3 3 3 3 3 3 3 3 MARKET ING/TOURNAMENT TOURNAMENT SALES/GROUP COORDINA1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 TOTAL EMPLOYEES 45 45 48 51 66 68 70 70 70 69 60 46 291 Revenue & Operations Overview Assumptions General Operations It is assumed that all hotel and commercial construction will remain paused during the 2025-2026 fiscal year. This ongoing construction will continue to negatively impact golf course operations throughout the summer of 2025 and the entire 2025-2026 season. As a result, maximum revenue potential will not be achieved due to unsightly construction fencing, temporary facilities, and limited clubhouse amenities. Additionally, restricted access to the Ahmanson Ranch House and parking areas is expected to reduce Food & Beverage sales for the fiscal year. Despite these challenges, every effort will be made to provide the best possible guest experience at SilverRock. The Permanent Clubhouse is not expected to open during the 2025-2026 fiscal year. Golf operations will continue to be conducted out of temporary clubhouse facilities (double -wide trailers) located in the "dog bone" area near the hole #2 tee boxes. The SilverRock Grill will remain operational at the existing Ahmanson Clubhouse until the new facility opens. SilverRock is scheduled to host the 2025 La Quinta Ironman on Sunday, December 7, 2025, requiring a full -course closure for the day. This one -day revenue loss has been factored into the 2025-2026 Annual Plan. Re -Grassing Project — Front 9 Turf renovation on the Front 9 is scheduled to begin in early summer 2025 and continue through the third week of August. The current TifSport turf will be replaced with a more drought -tolerant Bermuda grass variety known for faster transition. The Front 9 will be closed throughout July and most of August. If the grow -in progresses as planned, all 18 holes will reopen by the last week of August 2025. To maintain an 18-hole experience, players will be able to play the Back 9 twice during this period. A similar renovation of the Back 9 is anticipated for summer 2026, with revenue losses for May and June 2026 already included in this plan. Golf Operations & Merchandise • Hours of Operation (July —August): o Last tee time: 12:50 p.m. o Golf Shop open: 6:00 a.m. — 2:00 p.m. 292 • Merchandise sales will be negatively affected by reduced traffic due to construction, especially from July through October 2025. Food & Beverage • The Ahmanson Ranch House and SilverRock Grill will operate with limited access and reduced hours from summer 2025 through September 2025. Green Fees Green fees include use of a golf cart and warm-up range balls. An average rate of $104.43 per round is projected, based on 41,445 annual paid rounds. Non-resident rates are expected to increase by approximately 3%, subject to market conditions. Rates will be adjusted dynamically based on demand and utilization. • La Quinta Resident Rates (unchanged): o High Season: $60 o Shoulder Season: $49 o Summer Season: $35 • Resident Guest Policy: Guests accompanying a La Quinta Resident receive 30% off posted rates (excluding twilight and discounted rates). Booking remains at three (3) days in advance, same as resident cardholders. Closures & Maintenance • Overseeding: September 30 — October 31, 2025 o Course closed during these dates; revenue reduction accounted for in projections. • Aerification: Scheduled for August 2025 and June 2026 o Revenue reduced for 5-7 days per cycle. Greens Fee Mix Projected breakdown of green fee sources: • 33% La Quinta Residents • 25% Public • 10% Public Twilight 293 • 32% Other (tournaments, wholesalers, juniors, guest replays, discounts) Other Revenue • Miscellaneous Revenue: $4.26/round from club rentals, repairs, handicap fees, driving range, rider fees, and teaching pros. • Golf Shop Merchandise: $4.26/round in retail sales. • Resident Card Fees: Resident card renewals will be handled by the Wellness Center. Revenue of -$165,000 will be excluded from SilverRock's projections. Cost of Goods Sold • Merchandise:55% • Food & Beverage: 33% Expense Overview Labor & Staffing • Minimum Wage: No increase is projected. • Golf Carts/Bag Room/Driving Range: Includes staffing and operational supplies. Shuttle service remains due to distance between temporary clubhouse and practice areas. • Golf Shop: Includes golf pros, merchandise staff, receiving, and operations. • Course Services: Rangers/starters and related expenses. • Maintenance: Includes superintendent and crew compensation, supplies, and seasonal cost increases due to overseeding. Education and training costs are also budgeted. Utilities • Water & Electrical: Budgeted under Maintenance. • Annual Electricity Costs: $236,340, covering: o Front entry waterfalls o Well pump o Pump station o Lake circulation systems o Cart storage o Both clubhouses 294 Food & Beverage Includes all temporary clubhouse staffing and operational expenses. Landmark Golf Management will continue managing F&B under a separate agreement, including the liquor license arrangement. Marketing Covers marketing, PR, advertising, website management, collateral, and tournament sales. (Refer to pages 22-24 for the Marketing Plan Narrative.) Facilities & Management • Clubhouse: Includes janitorial, landscaping, parking lot upkeep, and roving patrol for site security. • Management Fee: Per the Management Agreement, Landmark's monthly fee will increase 5% to $12,007. • Insurance: Includes general liability and golf equipment coverage. Property/business interruption insurance excluded. • G&A: Covers salaries for General Manager, Controller, and Admin Assistant, as well as professional fees, payroll services, and equipment rentals. • Personal Property Lease Tax: Only taxes on purchased/leased equipment are included. • Capital Reserves: 2% of green fees set aside, per City of La Quinta directive. Equipment Leases & Other • Golf Carts: No lease expense due to City's 2024 purchase of a new fleet. • GPS Lease: Monthly cost is $5,092 for the GPS system on all carts. • Computer Replacements: All computers utilizing Windows 11 are at End of Life upgrades. $27,000 has been allocated in this Annual Plan to replace all computer with old systems. 295 2025-2026 ANNUAL PLAN CONSOLIDATED FOR FISCAL JUL. SilverRock Resort INCOME STATEMENT YEAR - JULY 2025 AUG. - JUNE 2026 SEP. RUN DATE. 2141,25 m.. Pm EEEEnEEOEx. ,.w,..xcovm.w�N BUDGET DEPARTMENT OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN. ROUNDS ROUNDS 41,445 900 1,000 2,850 500 5,250 4,700 4,900 5,300 6,200 4,995 3,000 1,850 REVENUE GREEN FEES 4,328,074 43,785 50,400 195,225 34,775 569,888 449,320 548,800 698,540 817,160 530,469 278,250 111,463 MISC. REV/RANGE/CARTS/RENTALS 176,460 4,150 3,550 4,150 1,150 18,000 22,300 27,350 28,500 29,100 21,645 11,420 5,145 GOLF SHOP MERCHANDISE 215,788 1,800 2,000 5,700 1,250 26,250 25,850 26,950 34,450 40,300 27,473 14,700 9,065 FOOD & BEVERAGE 786,921 9,000 10,200 36,480 4,500 103,950 93,060 104,762 111,565 132,060 108,891 50,438 22,015 TOTAL REVENUE 5,507,242 58,735 66,150 241,555 41,675 718,088 590,530 707,862 873,055 1,018,620 688,478 354,808 147,688 COST OF SALES PRO SHOP 120,776 1,007 1,119 3,190 700 14,692 14,468 15,084 19,282 22,556 15,376 8,228 5,074 FOOD & BEVERAGE 224,956 2,584 2,995 10,780 1,351 29,999 26,856 29,611 31,707 37,411 30,719 14,367 6,576 TOTAL COST OF SALES 345,732 3,592 4,114 13,970 2,051 44,691 41,324 44,695 50,989 59,967 46,096 22,595 11,650 GROSS PROFIT 5,161,510 55,143 62,036 227,585 39,624 673,397 549,206 663,167 822,066 958,653 642,382 332,213 136,038 OPERATING EXPENSES GOLF CARTS\BAGS\RANGE 484,646 25,622 25,822 26,719 24,365 59,641 43,201 51,692 51,892 51,317 51,017 41,582 31,777 GOLF SHOP 299,105 16,125 16,125 17,158 13,991 29,578 30,793 33,066 31,551 31,551 31,019 27,914 20,233 COURSE SERVICES 137,080 3,952 3,952 4,494 1,000 15,088 15,263 16,940 16,890 16,890 17,215 15,198 10,199 GOLF COURSE MAINTENANCE 2,206,881 180,075 146,927 164,427 378,056 162,601 174,272 165,589 162,142 160,841 187,749 154,868 169,332 WATER & ELECTRIC COST 333,584 27,130 26,130 27,380 28,180 33,620 25,025 26,920 25,840 26,870 29,840 30,230 26,419 GENERAL & ADMINISTRATIVE 563,339 43,332 43,382 44,582 72,032 44,732 48,032 45,382 44,432 44,432 44,132 44,232 44,632 MARKETING 173,263 5,013 5,013 6,108 17,063 22,433 17,689 22,894 20,539 21,214 14,019 12,764 8,519 CLUBHOUSE 171,756 13,988 13,988 13,988 16,488 13,988 13,988 14,488 13,988 14,488 13,988 13,988 14,388 MANAGEMENT FEE 144,084 12,007 12,007 12,007 12,007 12,007 12,007 12,007 12,007 12,007 12,007 12,007 12,007 CAPITAL RESERVES 86,561 876 1,008 3,905 696 11,398 8,986 10,976 13,971 16,343 10,609 5,565 2,229 INSURANCE 90,744 7,562 7,562 7,562 7,562 7,562 7,562 7,562 7,562 7,562 7,562 7,562 7,562 PERSONAL PROPERTY LEASE TAXES 6,000 6,000 0 0 0 0 0 0 0 0 0 0 0 LEASES 354,456 29,538 29,538 29,538 29,538 29,538 29,538 29,538 29,538 29,538 29,538 29,538 29,538 FOOD & BEVERAGE 606,271 35,291 34,241 38,320 21,996 52,590 61,094 73,621 70,801 72,246 61,803 50,023 34,243 TOTAL OPERATING EXPENSES 5,657,771 406,511 365,696 396,187 622,974 494,776 487,451 510,675 501,153 505,299 510,498 445,472 411,079 NET INCOME (496,261) (351,368) (303,660) (168,602) (583,349) 178,621 61,755 152,492 320,913 453,354 131,884 (113,259) (275,041) NET INCOME % -9.0% -598.2% -459.0% -69.8% -1399.8% 24.9% 10.5% 21.5% 36.8% 44.5% 19.2% -31.9% -186.2% Average Green Fee $104.43 $48.65 $50.40 $68.50 $69.55 $108.55 $95.60 $112.00 $131.80 $131.80 $106.20 $92.75 $60.25 Average $ Misc. Income per Rd $4.26 $4.61 $3.55 $1.46 $2.30 $3.43 $4.74 $5.58 $5.38 $4.69 $4.33 $3.81 $2.78 Average $ Merchandise per Rd $5.21 $2.00 $2.00 $2.00 $2.50 $5.00 $5.50 $5.50 $6.50 $6.50 $5.50 $4.90 $4.90 Total Average Revenue per Round $113.89 $65.26 $66.15 $84.76 $83.35 $136.78 $125.64 $144.46 $164.73 $164.29 $137.83 $118.27 $79.83 296 2025-2026 ANNUAL PLAN SilverRock Resort Projections -July 2025 to June 2026 RUN DATE: 20-May-25 0431 PM PREPARED BY, Landmark Golf Management Golf Rounds Resident Rnds (Weekday) Resident Rnds (Weekend) Sub -Total Resident Rnds • of Total Public Rnds (Weekday) Public Rnds (Weekend) Sub -Total Public Rnds • of Total Public Twi (Weekday) Public Twi (Weekend) Sub -Total Twilight Rnds % of Total Other (Weekday) Other (Weekend) Sub -Total 011ie) • of Total Total Rounds Green Fees Resident Rnds (Weekday) Resident Rnds (Weekend) Public Rnds (Weekday) Public Rnds (Weekend) Public Twi (Weekday) Public Twi (Weekend) Other (Weekday) Other (Weekend) Golf Revenue Resident Rnds (Weekday) Resident Rnds (Weekend) Public Ands (Weekday) Public Rnds (Weekend) Public Twi (Weekday) Public Twi (Weekend) Other (Weekday) Other (Weekend) Total Revenue Avg. Rate Misc Revenue Club Rental Driving Range Balls Rider Fees Handicap Fees Independent Instructor Fees Ball Retreival Total JUL. AUG. SEP. 7,046 5,388 12,434 0.30 8,289 6,217 14,506 0.35 4,559 3,730 8,289 0.20 3,730 2,487 6,217 0.15 41,445 153 117 270 170 130 300 485 371 855 OCT. NOV. 85 65 150 893 683 1575 DEC. JAN. FEB. MAR. APR. MAY JUN. 799 611 1410 833 637 1470 901 689 1590 1054 806 1860 849 649 1499 510 390 900 315 241 555 180 200 570 100 1050 940 980 1060 1240 999 600 370 135 150 428 75 788 705 735 795 930 749 450 278 315 350 998 175 1838 1645 1715 1855 2170 1748 1050 648 99 110 314 55 578 517 539 583 682 549 330 204 81 90 257 45 473 423 441 477 558 450 270 167 180 200 570 100 1050 940 980 1060 1240 999 600 370 81 54 135 90 60 350 257 171 998 45 30 175 473 315 1838 423 282 1645 441 294 1715 477 318 1855 558 372 2170 450 300 1748 270 180 1050 167 111 648 $ 33.00 $ 33.00 $ 45.00 $ 49.00 $ 49.00 $ 49.00 $ 60.00 $ 60.00 $ 60.00 $ 49.00 $ 49.00 $ 49.00 $ 33.00 $ 33.00 $ 45.00 $ 49.00 $ 49.00 $ 49.00 $ 60.00 $ 60.00 $ 60.00 $ 49.00 $ 49.00 $ 49.00 $ 55.00 $ 55.00 $ 75.00 $ 75.00 $ 150.00 $ 120.00 $ 140.00 $ 180.00 $ 180.00 $ 145.00 $ 125.00 $ 60.00 $ 65.00 $ 65.00 $ 95.00 $ 85.00 $ 155.00 $ 120.00 $ 150.00 $ 190.00 $ 190.00 $ 155.00 $ 135.00 $ 75.00 $ 45.00 $ 50.00 $ 65.00 $ 80.00 $ 110.00 $ 100.00 $ 120.00 $ 140.00 $ 140.00 $ 110.00 $ 95.00 $ 65.00 $ 55.00 $ 60.00 $ 75.00 $ 80.00 $ 115.00 $ 115.00 $ 130.00 $ 145.00 $ 145.00 $ 115.00 $ 100.00 $ 75.00 $ 50.00 $ 55.00 $ 75.00 $ 70.00 $ 125.00 $ 115.00 $ 120.00 $ 135.00 $ 135.00 $ 110.00 $ 85.00 $ 50.00 $ 60.00 $ 65.00 $ 85.00 $ 80.00 $ 115.00 $ 120.00 $ 130.00 $ 145.00 $ 145.00 $ 115.00 $ 95.00 $ 65.00 368,799 $ 5,049 $ 5,610 $ 21,803 $ 4,165 $ 43,733 $ 39,151 $ 49,980 $ 54,060 $ 63,240 $ 41,608 $ 24,990 $ 15,411 282,023 $ 3,861 $ 4,290 $ 16,673 $ 3,185 $ 33,443 $ 29,939 $ 38,220 $ 41,340 $ 48,360 $ 31,818 $ 19,110 $ 11,785 1,134,705 $ 9,900 $ 11,000 $ 42,750 $ 7,500 $ 157,500 $ 112,800 $ 137,200 $ 190,800 $ 223,200 $ 144,855 $ 75,000 $ 22200 907,871 $ 8,775 $ 9,750 $ 40,613 $ 6,375 $ 122,063 $ 84,600 $ 110,250 $ 151,050 $ 176,700 $ 116,134 $ 60,750 $ 20,813 496,755 $ 4,455 $ 5,500 $ 20,378 $ 4,400 $ 63,525 $ 51,700 $ 64,680 $ 81,620 $ 95,480 $ 60,440 $ 31,350 $ 13,228 434,266 $ 4,455 $ 5,400 $ 19,238 $ 3,600 $ 54,338 $ 48,645 $ 57,330 $ 69,165 $ 80,910 $ 51,698 $ 27,000 $ 12,488 412,466 $ 4,050 $ 4,950 $ 19,238 $ 3,150 $ 59,063 $ 48,645 $ 52,920 $ 64,395 $ 75,330 $ 49,451 $ 22,950 $ 8,325 291,191 $ 3,240 $ 3,900 $ 14,535 $ 2,400 $ 36,225 $ 33,840 $ 38,220 $ 46,110 $ 53,940 $ 34,466 $ 17,100 $ 7,215 4,328,074 $ 43,785 $ 50,400 $ 195,225 $ 34,775 $ 569,888 $ 449,320 $ 548,800 $ 698,540 $ 817,160 $ 530,469 $ 278,250 $ 111,463 $ 104.43 $ 48.65 $ 50.40 $ 68.50 $ 69.55 $ 108.55 $ 95.60 $ 112.00 $ 131.80 $ 131.80 $ 106.20 $ 92.75 $ 60.25 42,175 $ 800 $ 750 $ 1,000 $ 3,900 $ 4,500 $ 6,000 $ 7,000 $ 7,500 $ 6,000 $ 3,500 $ 1,225 98,500 $ 1,600 $ 1,500 $ 1,400 $ 10,000 $ 13,000 $ 16,000 $ 17,000 $ 17,000 $ 9,900 $ 7,425 $ 3,675 22,190 $ 1,000 $ 1,100 $ 1,500 $ - $ 2,500 $ 3,100 $ 3,100 $ 3,100 $ 3,200 $ 2,850 $ 495 $ 245 4,595 $ 250 $ 200 $ 250 $ 650 $ 600 $ 700 $ 750 $ 400 $ 400 $ 395 $ - $ 6,500 $ - $ - $ - $ - $ 1,000 $ 1,000 $ 1,000 $ 1,000 $ 1,000 $ 1,500 $ - $ 2,500 $ 500 $ - $ - $ 500 $ - $ - $ 500 $ - $ - $ 1,000 $ - $ Total 176,460 $ 4,150 $ 3,550 $ 4,150 $ 1,150 $ 18,000 $ 22,300 $ 27,350 $ 28,500 $ 29,100 $ 21,645 $ 11,420 $ 5,145 297 2025-2026 ANNUAL PLAN SilverRock Resort Projections - July 2025 to June 2026 RUN DATE: 20-May-25 04:26 PM PREPARED BY: Landmark Golf Management GOLF SHOP - 61 TOTAL JUL. I AUG. I SEP. I OCT. I NOV. I DEC. I JAN. FEB. I MAR. I APR. I MAY I JUN. GOLF SHOP MERCHANDISE SALES TOTAL # OF ROUNDS AVERAGE REVENUE / ROUND TOTAL MERCHANDISE SALES MERCHANDISE REVENUE Soft Goods Sales Hard Goods Sales 41,445 $5.21 $215,788 900 $2.00 1,800 1,000 2,850 $2.00 $2.00 2,000 5,700 500 5,250 4,700 4,900 5,300 6,200 4,995 3,000 1,850 $2.50 $5.00 $5.50 $5.50 $6.50 $6.50 $5.50 $4.90 $4.90 1,250 26,250 25,850 26,950 34,450 40,300 27,473 14,700 9,065 161,841 1,350 1,500 4,275 938 19,688 19,388 20,213 25,838 30,225 20,604 11,025 6,799 53,947 450 500 1,425 313 6,563 6,463 6,738 8,613 10,075 6,868 3,675 2,266 TOTAL MERCHANDISE REVENUE 215,788 1,800 2,000 5,700 1,250 26,250 25,850 26,950 34,450 40,300 27,473 14,700 9,065 COST OF SALES 55.97% 55.97% 55.97% 55.97% 55.97% 55.97% 55.97% 55.97% 55.97% 55.97% 55.97% 55.97% 55.97% COS - Merchandise (58%) 125,157 1,044 1,160 3,306 725 15,225 14,993 15,631 19,981 23,374 15,934 8,526 5,258 Purchase Disc Taken - (5%) (6,258) (52) (58) (165) (36) (761) (750) (782) (999) (1,169) (797) (426) (263) Freight - Merchandise 1,877 16 17 50 11 228 225 234 300 351 239 128 79 TOTAL COST OF SALES 120,776 1,007 1,119 3,190 700 14,692 14,468 15,084 19,282 22,556 15,376 8,228 5,074 GROSS PROFIT 95,011 793 881 2,510 550 11,558 11,382 11,866 15,168 17,744 12,096 6,472 3,991 SALARIES AND BENEFITS Salaries and Wages 215,677 10,768 10,768 11,661 8,601 22,329 23,379 24,099 24,099 24,099 23,639 17,919 14,319 Payroll Taxes 21,028 1,050 1,050 1,137 839 2,177 2,279 2,350 2,350 2,350 2,305 1,747 1,396 Workers' Compensation 12,889 644 644 697 514 1,334 1,397 1,440 1,440 1,440 1,413 1,071 856 Health Insurance/Benefits 30,636 2,553 2,553 2,553 2,553 2,553 2,553 2,553 2,553 2,553 2,553 2,553 2,553 TOTAL SALARIES AND BENEFITS 280,230 15,015 15,015 16,048 12,506 28,393 29,608 30,441 30,441 30,441 29,909 23,289 19,123 OTHER EXPENSES Office Supplies 3,000 250 250 250 250 250 250 250 250 250 250 250 250 Dues and Subscriptions 2,300 0 0 0 0 0 0 0 0 0 0 2,300 Freight / Delivery 75 0 0 0 25 25 25 0 0 0 0 0 0 Travel 90 0 0 0 0 0 0 15 15 15 15 15 15 Uniforms 2,400 100 100 100 100 300 200 500 200 200 200 200 200 Telephone 1,320 110 110 110 110 110 110 110 110 110 110 110 110 Seminars/Training 3,690 150 150 150 500 0 100 1,250 35 35 35 1,250 35 Miscellaneous 6,000 500 500 500 500 500 500 500 500 500 500 500 500 TOTAL OTHER EXPENSES 18,875 1,110 1,110 1,110 1,485 1,185 1,185 2,625 1,110 1,110 1,110 4,625 1,110 TOTAL EXPENSES 299,105 16,125 16,125 17,158 13,991 29,578 30,793 33,066 31,551 31,551 31,019 27,914 20,233 Seminars/Training - Reimbursement for eligible golf shop employees (Director of Golf, Head Professional & 1st Assistant Golf Professional) for PGA Training, Education and Travel Expenses. Office Supplies are made up of: Golf Cart Rental Agreements, Golf Club Rental Agreements, Gift Certificates & Merchandise Bags Uniforms- Each Full -Time Emp receives (1) shirt per month 298 2025-2026 ANNUAL PLAN SilverRock Resort Projections - July 2025 to June 2026 RUN DATE: 20-May-25 04:26 PM PREPARED BY: Landmark Golf Management CARTS, BAGROOM & RANGE - 641 TOTAL JUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN. SALARIES AND BENEFITS Salaries and Wages Payroll Taxes Workers' Compensation Health Insurance/Benefits TOTAL SALARIES AND BENEFITS 284,534 13,532 13,532 14,838 8,713 26,960 26,960 34,320 34,320 35,424 1,685 1,685 1,847 1,085 3,357 3,357 4,273 4,273 17,004 809 809 887 521 1,611 1,611 2,051 2,051 27,232 1,702 1,702 1,702 1,702 2,553 2,553 2,553 2,553 34,320 34,320 24,960 17,760 4,273 4,273 3,108 2,211 2,051 2,051 1,492 1,061 2,553 2,553 2,553 2,553 364,194 17,727 17,727 19,274 12,020 34,481 34,481 43,197 43,197 43,197 43,197 32,112 23,585 SUPPLIES AND MATERIALS Range Expendable Supplies 6,750 600 600 150 150 1,800 150 1,000 1,000 150 150 500 500 Towel Replacement 2,182 120 120 120 120 185 195 250 250 250 250 250 72 Bottled Water 30,000 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 Cart Supplies 1,850 0 0 0 500 500 500 75 75 50 50 50 50 Range Balls 15,000 0 0 0 0 15,000 0 0 0 0 0 0 0 TOTAL SUPPLIES AND MATERIALS REPAIRS AND MAINTENANCE Equipment Repair - Golf TOTAL REPAIRS AND MAINTENANCE 55,782 3,220 3,220 2,770 3,270 19,985 3,345 3,825 3,825 2,950 2,950 3,300 3,122 3,600 300 300 300 300 300 300 300 300 300 300 300 300 3,600 300 300 300 300 300 300 300 300 300 300 300 300 OTHER EXPENSES Expendable Supplies 9,600 800 800 800 800 800 800 800 800 800 800 800 800 Printing / Stationary 420 0 0 0 0 0 0 70 70 70 70 70 70 Cart Maintenance & Repairs 26,400 2,100 2,300 2,100 2,300 2,100 2,300 2,100 2,300 2,100 2,300 2,100 2,300 Freight / Delivery 450 75 75 75 75 75 75 0 0 0 0 0 0 Uniforms 5,200 0 0 0 2,000 500 500 0 0 500 0 1,500 200 Laundry and Linen 9,600 800 800 800 800 800 800 800 800 800 800 800 800 Miscellaneous 9,400 600 600 600 2,800 600 600 600 600 600 600 600 600 TOTAL OTHER EXPENSES TOTAL EXPENSES 61,070 4,375 4,575 4,375 8,775 4,875 5,075 4,370 4,570 4,870 4,570 5,870 4,770 484,646 25,622 25,822 26,719 24,365 59,641 43,201 51,692 51,892 51,317 51,017 41,582 31,777 Expendable Supplies are made up of: - Scorecards, Tees, Pencils, Trash Bags, Cups & First Aid Supplies. Uniforms- Each employee receives 4 shirts, 1 hat per season 299 2025-2026 ANNUAL PLAN SilverRock Resort Projections - July 2025 to June 2026 RUN DATE: 20-May-25 04:31 PM PREPARED BY: Landmark Golf Management COURSE SERVICES - 643 TOTAL JUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN. SALARIES AND BENEFITS Salaries and Wages Payroll Taxes Workers' Compensation TOTAL SALARIES AND BENEFITS SUPPLIES AND MATERIALS Expendable Supplies 115,017 3,264 3,264 3,689 0 12,800 12,800 14,400 14,400 14,400 14,400 12,960 11,214 318 318 360 0 1,248 1,248 1,404 1,404 1,404 1,404 1,264 6,873 195 195 220 0 765 765 861 861 861 861 774 8,640 842 516 133,105 3,777 3,777 4,269 0 14,813 14,813 16,665 16,665 16,665 16,665 14,998 9,999 1,050 50 50 100 100 100 100 100 100 100 100 75 75 TOTAL SUPPLIES AND MATERIALS 1,050 50 50 100 100 100 100 100 100 100 100 75 75 OTHER EXPENSES Uniforms 2,125 75 75 75 800 75 250 75 75 75 400 75 75 Safety Equipment 600 50 50 50 50 50 50 50 50 50 50 50 50 Miscellaneous 200 0 0 0 50 50 50 50 0 0 0 0 0 TOTAL OTHER EXPENSES 2,926 125 125 125 900 175 350 176 125 125 450 125 125 TOTAL COURSE SERVICES EXPENSES 137,080 3,952 3,952 4,494 1,000 Expendable Supplies are made up of: Clipboards, Paper (starter sheets, ranger sheets), Towels, Trash Bags Uniforms- Each employee receives 4 shirts, 1 hat per season 15,088 15,263 16,940 16,890 16,890 17,215 15,198 10,199 300 2025-2026 ANNUAL PLAN SilverRock Resort Projections - July 2025 to June 2026 RUN DATE: 20-May-25 04:31 PM PREPARED BY: Landmark Col Management MAINTENANCE DEPARTMENT - 63 TOTAL JUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN. SALARIES AND BENEFITS Salaries and Wages Overtime Hourly Wages Payroll Taxes Workers' Compensation Health Insurance/Benefits TOTAL SALARIES AND BENEFITS SUPPLIES AND MATERIALS Fertilizer Flowers/Plants Gas & Oils Golf Course Accessories Chemicals & Pesticides POA Control Sand/Mulch/Bunker Seed Small Tools Sod Topdressing TOTAL SUPPLIES AND MATERIALS 847,222 61,134 62,684 62,684 72,107 71,081 30,518 0 1,824 1,824 16,000 2,052 85,580 5,961 6,290 6,290 8,590 7,130 31,232 2,201 2,300 2,300 2,980 2,608 160,013 12,838 12,838 12,838 12,838 13,689 74,210 75,284 75,232 75,238 75,238 72,079 70,250 0 0 2,106 2,500 2,106 2,106 0 7,235 7,340 7,540 7,579 7,541 7,233 6,849 2,672 2,710 2,759 2,769 2,759 2,645 2,529 13,689 13,689 13,689 13,689 13,689 13,689 12,838 1,154,564 82,134 85,936 85,936 112,515 96,560 97,806 99,023 101,326 101,775 101,333 97,752 92,466 122,800 10,000 4,300 9,000 30,000 10,000 10,000 10,000 6,000 6,000 15,000 4,500 8,000 13,000 0 0 0 6,000 0 0 5,000 0 0 0 2,000 0 81,600 6,800 6,800 6,800 6,800 6,800 6,800 6,800 6,800 6,800 6,800 6,800 6,800 16,000 0 0 0 14,000 0 0 0 0 2,000 0 0 0 56,000 14,000 2,000 8,000 8,000 5,000 0 0 6,000 0 8,000 0 5,000 10,000 0 0 0 0 0 10,000 0 0 0 0 0 0 52,500 5,000 0 5,000 12,500 2,500 5,000 2,500 2,500 2,500 12,500 2,500 0 145,000 0 0 0 140,000 5,000 0 0 0 0 0 0 6,000 500 500 500 500 500 500 500 500 500 500 500 500 8,000 0 2,500 1,000 0 0 0 0 0 0 0 0 4,500 13,000 5,000 4,000 0 0 0 0 0 0 0 0 0 4,000 539,900 57,300 20,100 30,300 217,800 24,800 37,300 24,800 21,800 17,800 42,800 16,300 28,800 REPAIRS AND MAINTENANCE Buildings & Bridges 6,000 500 500 500 500 500 500 500 500 500 500 500 500 Equipment 54,000 3,500 4,000 4,500 10,000 5,000 3,000 3,000 3,500 5,000 5,000 4,000 3,500 Irrigation System 40,500 4,500 4,500 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,500 3,500 3,500 Pumps 10,500 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 500 0 Lake Maint Contract 52,152 4,346 4,346 4,346 4,346 4,346 4,346 4,346 4,346 4,346 4,346 4,346 4,346 Trees 16,550 0 0 6,000 550 0 0 0 0 0 0 0 10,000 TOTAL REPAIRS AND MAINTENANCE 179,702 13,846 14,346 19,346 19,396 13,846 11,846 11,846 12,346 13,846 14,346 12,846 21,846 301 2025-2026 ANNUAL PLAN SilverRock Resort Projections - July 2025 to June 2026 RUN DATE: 20-May-25 04:31 PM PREPARED BY: Landmark Col Management MAINTENANCE DEPARTMENT - 63 TOTAL JUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN. OTHER EXPENSES Contract Services Soil/Tissue Tests Dues and Subscriptions Employee Education Equipment Rental Auto Expense Licenses and Permits Miscellaneous Supplies Propane/Natural Gas Safety Equipment & Training Telephone/DSL Waste/Trash Removal Uniforms & Linen/Towels 2,000 0 0 0 0 0 0 0 0 0 0 2,000 0 900 0 0 0 0 0 0 800 0 0 0 0 100 4,700 0 0 1,400 0 0 400 2,500 250 0 50 50 50 3,400 200 150 150 1,000 600 200 200 200 200 200 200 100 4,800 400 400 400 400 400 400 400 400 400 400 400 400 4,300 100 0 0 250 0 50 0 0 1,000 2,900 0 0 1,200 100 100 100 100 100 100 100 100 100 100 100 100 5,950 750 750 750 500 500 500 500 500 500 500 100 100 360 30 30 30 30 30 30 30 30 30 30 30 30 3,850 200 100 750 800 500 400 400 200 200 100 100 100 5,700 475 475 475 475 475 475 475 475 475 475 475 475 7,200 600 600 600 600 600 600 600 600 600 600 600 600 15,600 1,300 1,300 1,300 1,300 1,300 1,300 1,300 1,300 1,300 1,300 1,300 1,300 TOTAL OTHER EXPENSES 59,960 4,155 3,905 5,955 5,455 4,505 4,455 7,305 4,055 4,805 6,655 5,355 3,355 TOTAL MAINTENANCE EXP. (EXCL Landscaping) LANDSCAPE Contract Labor Landscape Wages & Benefits 1,934,126 157,435 124,287 141,537 355,166 139,711 151,407 142,974 139,527 138,226 165,134 132,253 146,467 4,500 264,000 22,000 22,000 22,000 22,000 22,000 22,000 22,000 22,000 22,000 22,000 22,000 22,000 264,000 22,000 22,000 22,000 22,000 22,000 22,000 22,000 22,000 22,000 22,000 22,000 22,000 Small Tools 1,025 100 100 100 100 100 75 75 75 75 75 75 75 Repairs & Maintenance - Drip Irrigation 4,250 250 250 500 500 500 500 250 250 250 250 250 500 Uniforms 3,480 290 290 290 290 290 290 290 290 290 290 290 290 TOTAL LANDSCAPE MAINTENANCE 272,755 22,640 22,640 22,890 22,890 22,890 22,865 22,615 22,615 22,615 22,615 22,615 22,865 COURSE & LANDSCAPE MAINTENANCE TOTAL 2,206,881 180,075 146,927 164,427 378,056 162,601 174,272 165,589 162,142 160,841 187,749 154,868 169,332 (EXCL UTILITIES) WATER & ELECTRICITY COSTS Water Cost 97,244 8,630 7,630 8,880 9,680 14,480 3,785 5,680 4,600 5,630 8,600 11,730 7,919 Electricity Cost 236,340 18,500 18,500 18,500 18,500 19,140 21,240 21,240 21,240 21,240 21,240 18,500 18,500 TOTAL WATER AND ELECTRIC COST 333,584 27,130 26,130 27,380 28,180 33,620 25,025 26,920 25,840 26,870 29,840 30,230 26,419 TOTAL COURSE MAINTENANCE EXPENSES 2,540,465 207,205 173,057 191,807 406,236 196,221 199,297 192,509 187,982 187,711 217,589 185,098 195,751 302 2025-2026 ANNUAL PLAN SilverRock Resort Projections - July 2025 to June 2026 RUN DATE: 20-May-25 11:42 AM PREPARED BY: Landmark Golf Management G & A DEPARTMENT - 67 SALARIES AND BENEFITS Salaries and Wages Payroll Taxes Workers' Compensation Health Insurance/Benefits TOTAL SALARIES AND BENEFITS TOTAL I JUL. I AUG. I SEP. I OCT. I NOV. I DEC. I JAN. I FEB. I MAR. I APR. I MAY I JUN. 330,827 27,569 27,569 27,569 27,569 27,569 27,569 27,569 27,569 27,569 27,569 27,569 27,569 32,256 2,688 2,688 2,688 2,688 2,688 2,688 2,688 2,688 2,688 2,688 2,688 2,688 26,141 2,178 2,178 2,178 2,178 2,178 2,178 2,178 2,178 2,178 2,178 2,178 2,178 61,776 5,148 5,148 5,148 5,148 5,148 5,148 5,148 5,148 5,148 5,148 5,148 5,148 450,999 37,583 37,583 37,583 37,583 37,583 37,583 37,583 37,583 37,583 37,583 37,583 37,583 REPAIRS AND MAINTENANCE Equipment Repair 7,300 150 150 1,000 1,500 900 850 700 500 750 450 250 100 TOTAL REPAIRS AND MAINTENANCE 7,300 150 150 1,000 1,500 900 850 700 500 750 450 250 100 OTHER EXPENSES Office Supplies 1,260 105 105 105 105 105 105 105 105 105 105 105 105 Printing / Stationary 3,300 100 100 100 100 100 400 400 400 400 400 400 400 Postage 900 75 75 75 75 75 75 75 75 75 75 75 75 Recruiting / Relocation 1,200 0 0 150 150 150 200 150 200 200 0 0 0 Dues and Subscriptions 1,550 50 0 300 50 50 50 100 200 50 50 50 600 Freight / Delivery 600 50 50 50 50 50 50 50 50 50 50 50 50 Travel 1,100 0 100 0 0 0 0 0 100 0 200 500 200 Promotion 1,200 100 100 100 100 100 100 100 100 100 100 100 100 Auto Expense 6,000 500 500 500 500 500 500 500 500 500 500 500 500 Equipment Rental (Copier/Storage/Cell Phone) 6,000 500 500 500 500 500 500 500 500 500 500 500 500 Uniforms 2,000 150 150 150 350 150 150 150 150 150 150 150 150 Professional Fees (I.T. & Safety Fees) 45,000 1,500 1,500 1,500 28,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 Seminars / Training 3,400 200 200 200 200 200 200 1,200 200 200 200 200 200 Payroll Processing 20,520 1,710 1,710 1,710 1,710 1,710 1,710 1,710 1,710 1,710 1,710 1,710 1,710 Computer Supplies (POS Support Fees) 6,300 500 500 500 500 500 500 500 500 500 500 500 800 Bank & ADP Fees 1,080 90 90 90 90 90 90 90 90 90 90 90 90 Miscellaneous 10,000 500 500 500 500 1,000 4,000 500 500 500 500 500 500 TOTAL OTHER EXPENSES 111,410 6,130 6,180 6,530 33,480 6,780 10,130 7,630 6,880 6,630 6,630 6,930 7,480 TOTAL G & A EXPENSES 569,709 43,863 43,913 45,113 72,563 45,263 48,563 45,913 44,963 44,963 44,663 44,763 45,163 Uniforms- Benefit to be shared between GM & Controller Entertainment & Promotion - GM promoting property for potential clients 303 2025-2026 ANNUAL PLAN SilverRock Resort Projections - July 2025 to June 2026 MARKETING 20-May-25 11:42 AM PREPARED BY: Landmark Golf Management MARKETING DEPARTMENT - 66 TOTAL JUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN. SALARIES AND BENEFITS Salaries and Wages Payroll Taxes Workers' Compensation Health Insurance/Benefits TOTAL SALARIES AND BENEFITS 15,000 1,463 1,185 5,957 1,250 1,250 122 122 99 99 0 0 1,250 1,250 1,250 1,250 1,250 1,250 1,250 122 122 122 122 122 122 122 99 99 99 99 99 99 99 0 0 0 851 851 851 851 1,250 1,250 1,250 122 122 122 99 99 99 851 851 851 23,605 1,471 1,471 1,471 1,471 1,471 2,322 2,322 2,322 2,322 2,322 2,322 2,322 OTHER EXPENSES Office Supplies 1,200 100 100 100 100 100 100 100 100 100 100 100 100 Printing / Stationary 4,425 0 0 200 3,000 200 200 200 125 125 125 125 125 Postage 600 50 50 50 50 50 50 50 50 50 50 50 50 Contract Services Web Page 1,800 150 150 150 150 150 150 150 150 150 150 150 150 Dues and Subscriptions 735 0 0 0 0 0 0 35 400 300 0 0 0 Uniforms 600 0 0 0 300 50 50 50 50 50 50 0 0 Telephone 1,200 100 100 100 100 100 100 100 100 100 100 100 100 Civic, Community and Trade Show 2,250 75 75 75 75 750 750 75 75 75 75 75 75 Public Relations 1,000 0 0 0 0 0 0 500 500 0 0 0 0 Promotions / Meals 300 25 25 25 25 25 25 25 25 25 25 25 25 Promotion - (Media, Vendor Days, etc) 700 0 0 0 50 50 50 300 50 50 50 50 50 Advertising (Ad Purchases) 113,787 2,566 2,566 3,461 10,266 15,961 11,366 16,461 14,066 15,341 8,446 8,741 4,546 Collateral Material - (Scorecards, Rack Cds, Tees, Pencils, I 21,000 500 500 500 1,500 3,500 2,500 2,500 2,500 2,500 2,500 1,000 1,000 Miscellaneous 350 0 0 0 0 50 50 50 50 50 50 50 TOTAL OTHER EXPENSES TOTAL MARKETING EXPENSES 149,947 3,566 3,566 4,661 15,616 20,986 15,391 20,596 18,241 18,916 11,721 10,466 6,221 173,552 5,037 5,037 6,132 17,087 22,457 17,713 22,918 20,563 21,238 14,043 12,788 8,543 Promotion/Meals - Off property events (Chamber Mixers, Rotaries and entertaining potential clients) Promotion/MediaNendor Days - Radio/TV Onsite Broadcasting. Vendor Days - Show casing property in exchange for positive publicity 304 2025-2026 ANNUAL PLAN SilverRock Resort Projections - July 2025 to June 2026 MARKETING 20-May-25 ID42 AM PREPARED BY: Landmark Golf Management TEMPORARY CLUBHOUSE - 800 TOTAL JUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN. SUPPLIES AND MATERIALS Expendable Supplies Laundry Supplies TOTAL SUPPLIES AND MATERIALS 2,400 200 200 200 200 200 200 200 200 3,840 320 320 320 320 320 320 320 320 200 200 200 200 320 320 320 320 6,240 520 520 520 520 520 520 520 520 520 520 520 520 REPAIRS AND MAINTENANCE Building Structures 3,600 300 300 300 300 300 300 300 300 300 300 300 300 Restaurant Repairs 8,400 700 700 700 700 700 700 700 700 700 700 700 700 Equipment Repair 8,400 700 700 700 700 700 700 700 700 700 700 700 700 TOTAL REPAIRS AND MAINTENANCE 20,400 1,700 1,700 1,700 1,700 1,700 1,700 1,700 1,700 1,700 1,700 1,700 1,700 OTHER EXPENSES Contract Services Cleaning 8,000 500 500 500 2,500 500 500 500 500 500 500 500 500 Telephone 21,000 1,750 1,750 1,750 1,750 1,750 1,750 1,750 1,750 1,750 1,750 1,750 1,750 Cable -Roadrunner 5,040 420 420 420 420 420 420 420 420 420 420 420 420 Water 7,296 608 608 608 608 608 608 608 608 608 608 608 608 Safety Equipment 1,200 100 100 100 100 100 100 100 100 100 100 100 100 Propane Gas 12,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 Flowers and Decorations 1,900 0 0 0 500 0 0 500 0 500 0 0 400 Building Security (Roving Patrol) 88,680 7,390 7,390 7,390 7,390 7,390 7,390 7,390 7,390 7,390 7,390 7,390 7,390 Miscellaneous 0 0 0 0 0 0 0 0 0 0 0 0 0 TOTAL OTHER EXPENSES 145,116 11,768 11,768 11,768 14,268 11,768 11,768 12,268 11,768 12,268 11,768 11,768 12,168 TOTAL CLUBHOUSE EXPENSES 171,756 13,988 13,988 13,988 16,488 13,988 13,988 14,488 13,988 14,488 13,988 13,988 14,388 Expendable Supplies made up of: Locksmith, Trashbags, Lightbulbs, Mats, Items related to Maintenance of Clubhouse 305 2025-2026 ANNUAL PLAN SilverRock Resort Projections - July 2025 to June 2026 RUN DATE: 20-May-25 04:26 PM PREPARED BY: Landmark Golf Management MISC. DEPARTMENT - 980 & 990 TOTAL JUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN. MISC OTHER EXPENSES Management Fee - Fixed FF&E Reserve (2.0 % ) General Liability Insurance Personal Property Taxes 144,084 12,007 12,007 12,007 12,007 12,007 12,007 12,007 12,007 12,007 12,007 12,007 12,007 86,561 876 1,008 3,905 696 11,398 8,986 10,976 13,971 16,343 10,609 5,565 2,229 90,744 7,562 7,562 7,562 7,562 7,562 7,562 7,562 7,562 7,562 7,562 7,562 7,562 6,000 6,000 0 0 0 0 0 0 0 0 0 0 0 327,389 26,445 20,577 23,474 20,265 30,967 28,555 30,545 33,540 35,912 30,178 25,134 21,798 LEASE/RENTAL EXPENSES Golf Course Maintenance Lease 288,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 24,000 GPS Lease (Up -Link) 61,656 5,138 5,138 5,138 5,138 5,138 5,138 5,138 5,138 5,138 5,138 5,138 5,138 Equipment Rental Other 4,800 400 400 400 400 400 400 400 400 400 400 400 400 354,456 29,538 29,538 29,538 29,538 29,538 29,538 29,538 29,538 29,538 29,538 29,538 29,538 306 2024-2025 Annual Budget 2024-2025 Annual Budget RUN DATE: 20-May-25 04:31 PM PREPARED BY: Landmark Golf Management FOOD & BEVERAGE DEPT - 62 FOOD REVENUE TOTAL NUMBER OF ROUNDS TOTAL I JUL. I AUG. I SEP. I OCT. I NOV. I DEC. 41,445 900 1,000 2,850 500 5,250 4,7,- FOOD REVENUE Snack Shop/Terrace Food $ 342,805 $ 4,500 $ 5,000 $ 17,100 $ 2,000 $ 47,250 $ Beverage Cart Food $ 39,095 $ 225 $ 500 $ 2,138 $ 500 $ 5,250 $ Other Food Income $ - $ - $ - $ - $ - $ - $ Non -Taxable Tournament Site Fees $ - $ - $ - $ - $ - $ - $ Special Events $ - $ - $ - $ - TOTAL FOOD REVENUE 42,300 $ 4,700 $ JAN. I FEB. 44,100 $ 47,700 $ 4,900 $ 5,300 $ - $ - $ MAR. I APR. I MAY IJUN. 6,200 4,995 3,000 1,850 55,800 $ 44,955 $ 6,200 $ 4,995 $ 21,000 $ 11,100 3,000 $ 1,388 $ 381,900 $ 4,725 $ 5,500 $ BEVERAGE REVENUE Snack Shop/Terrace Beer & Wine $ 145,440 $ 1,080 $ 1,200 $ Snack Shop/Terrace Sodas $ 36,360 $ 270 $ 300 $ Beverage Cart Beer & Wine $ 198,216 $ 2,633 $ 2,800 $ Beverage Cart Sodas $ 25,004 $ 293 $ 400 $ 19,238 $ 2,500 $ 52,500 $ 47,000 $ 49,000 $ 53,000 $ 62,000 $ 49,950 $ 24,000 $ 12,488 3,420 $ 600 $ 21,000 $ 18,800 $ 19,600 $ 21,200 $ 24,800 $ 19,980 $ 10,800 $ 2,960 855 $ 150 $ 5,250 $ 4,700 $ 4,900 $ 5,300 $ 6,200 $ 4,995 $ 2,700 $ 740 7,980 $ 625 $ 23,100 $ 20,680 $ 29,645 $ 29,150 $ 35,805 $ 29,970 $ 11,250 $ 4,579 4,988 $ 625 $ 2,100 $ 1,880 $ 1,617 $ 2,915 $ 3,255 $ 3,996 $ 1,688 $ 1,249 TOTAL BEVERAGE REVENUE $ 405,021 $ 4,275 $ 4,700 $ 17,243 $ 2,000 $ 51,450 $ 46,060 $ 55,762 $ 58,565 $ 70,060 $ 58,941 $ 26,438 $ 9,528 TOTAL FOOD & BEVERAGE REVENUE $ 786,921 $ 9,000 $ 10,200 $ 36,480 $ 4,500 $ 103,950 $ 93,060 $ 104,762 $ 111,565 $ 132,060 $ 108,891 $ 50,438 $ 22,015 LESS COST OF SALES COS - Food (37%) $ 137,484 $ 1,701 $ 1,980 $ 6,926 $ 900 $ 18,900 $ 16,920 $ 17,640 $ 19,080 $ 22,320 $ 17,982 $ 8,640 $ 4,496 COS - Beer & Wine (25%) $ 72,131 $ 742.50 $ 840.00 $ 2,394.00 $ 257.25 $ 9,261.00 $ 8,290.80 $ 10,341.45 $ 10,573.50 $ 12,727.05 $ 10,489.50 $ 4,630.50 $ 1,583.14 COS-Sodas(27%) $ 15,341 $ 140.63 $ 175.00 $ 1,460.63 $ 193.75 $ 1,837.50 $ 1,645.00 $ 1,629.25 $ 2,053.75 $ 2,363.75 $ 2,247.75 $ 1,096.88 $ 497.19 COS- Employee Meals $ $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ TOTAL COST OF SALES $ 224,956 $ 2,584 $ 2,995 $ 10,780 $ 1,351 $ 29,999 $ 26,856 $ 29,611 $ 31,707 $ 37,411 $ 30,719 $ 14,367 $ 6,576 GROSS PROFIT $ 561,965 $ 6,416 $ 7,205 $ 25,700 $ 3,149 $ 73,952 $ 66,204 $ 75,151 $ 79,858 $ 94,649 $ 78,172 $ 36,070 $ 15,439 SALARIES AND BENEFITS Salaries and Wages $ 391,053 $ 19,908 $ 19,908 $ 22,420 $ 10,055 $ 33,257 $ 41,995 $ 49,209 $ 49,209 $ 49,209 $ 42,732 $ 32,566 $ 20,585 Payroll Taxes $ 43,016 $ 2,190 $ 2,190 $ 2,466 $ 1,106 $ 3,658 $ 4,619 $ 5,413 $ 5,413 $ 5,413 $ 4,701 $ 3,582 $ 2,264 Workers' Compensation $ 14,078 $ 717 $ 717 $ 807 $ 362 $ 1,197 $ 1,512 $ 1,772 $ 1,772 $ 1,772 $ 1,538 $ 1,172 $ 741 Health Insurance $ 73,168 $ 6,097 $ 6,097 $ 6,097 $ 6,097 $ 6,097 $ 6,097 $ 6,097 $ 6,097 $ 6,097 $ 6,097 $ 6,097 $ 6,097 TOTAL SALARIES AND BENEFITS $ 521,315 $ 28,911 $ 28,911 $ 31,790 $ 17,621 $ 44,210 $ 54,223 $ 62,491 $ 62,491 $ 62,491 $ 55,068 $ 43,418 $ 29,688 SUPPLIES AND MATERIALS Expendable Supplies $ 4,280 $ 300 $ 300 $ 300 $ 580 $ 200 $ 400 $ 400 $ 400 $ 400 $ 400 $ 300 $ 300 Bar Utensils $ 1,250 $ 150 $ 100 $ 100 $ 100 $ 100 $ 100 $ 100 $ 100 $ 100 $ 100 $ 100 $ 100 Menus, Napkins and Placemats $ 3,825 $ 175 $ 175 $ 175 $ 500 $ 250 $ 250 $ 550 $ 350 $ 350 $ 350 $ 350 $ 350 TOTAL SUPPLIES AND MATERIALS $ 9,355 $ 625 $ 575 $ 575 $ 1,180 $ 550 $ 750 $ 1,050 $ 850 $ 850 $ 850 $ 750 $ 750 REPAIRS AND MAINTENANCE Equipment Repair $ 5,900 $ 400 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 TOTAL REPAIRS AND MAINTENANCE $ 5,900 $ 400 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 OTHER EXPENSES Office Supplies $ 1,500 $ 100 $ 100 $ 100 $ 250 $ 250 $ 100 $ 100 $ 100 $ 100 $ 100 $ 100 $ 100 Phone $ 857 $ 71 $ 71 $ 71 $ 71 $ 71 $ 71 $ 71 $ 76 $ 71 $ 71 $ 71 $ 71 Equipment Rental $ 1,285 $ 109 $ 109 $ 109 $ 95 $ 109 $ 100 $ 109 $ 109 $ 109 $ 109 $ 109 $ 109 Natural Gas - Propane $ 12,000 $ 2,000 $ $ 2,000 $ $ 2,000 $ $ 2,000 $ $ 2,000 $ $ 2,000 $ Non -Capital Equipment $ 2,050 $ 100 $ 100 $ 100 $ 50 $ 50 $ 50 $ 700 $ 700 $ 50 $ 50 $ 50 $ 50 Uniforms $ 4,300 $ 150 $ 150 $ 150 $ 1,500 $ 150 $ 500 $ 250 $ 250 $ 350 $ 550 $ 150 $ 150 Laundry and Linen $ 8,850 $ 650 $ 650 $ 650 $ - $ 650 $ 650 $ 1,200 $ 1,200 $ 1,200 $ 650 $ 650 $ 700 Bank Fees $ 20,630 $ 1,150 $ 1,150 $ 1,250 $ - $ 2,400 $ 2,500 $ 2,500 $ 2,700 $ 2,700 $ 2,080 $ 1,150 $ 1,050 Seminars / Training $ 225 $ 25 $ 25 $ 25 $ 25 $ $ $ $ 25 $ 25 $ 25 $ 25 $ 25 Cleaning Supplies $ 7,400 $ 400 $ 400 $ 400 $ - $ 850 $ 850 $ 950 $ 950 $ 950 $ 950 $ 350 $ 350 Flowers and Decorations $ 2,604 $ 100 $ 100 $ 100 $ 204 $ 300 $ 300 $ 300 $ 250 $ 250 $ 300 $ 200 $ 200 Licenses and Permits $ 1,800 $ $ 900 $ $ $ $ $ 900 $ $ $ $ Miscellaneous $ 6,200 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 500 $ 600 $ 600 $ 500 $ 500 $ 500 TOTAL OTHER EXPENSES $ 69,701 $ 5,355 $ 4,255 $ 5,455 $ 2,695 $ 7,330 $ 5,621 $ 9,580 $ 6,960 $ 8,405 $ 5,385 $ 5,355 $ 3,305 TOTAL EXPENSES $ 606,271 $ 35,291 $ 34,241 $ 38,320 $ 21,996 $ 52,590 $ 61,094 $ 73,621 $ 70,801 $ 72,246 $ 61,803 $ 50,023gq7$ 34,243 TOTAL FOOD & BEVERAGE PROFIT (Loss) $ (44,307) $ (28,876) $ (27,036) $ (12,620) $ (18,847) $ 21,361 $ 5,110 $ 1,530 $ 9,057 $ 22,403 $ 16,369 $ (fi3;983) $ (18,804) 2025-2026 Marketing Plan Objective To expand brand awareness for SilverRock Resort, promote the Arnold Palmer Classic Course as a premier golf destination in the Coachella Valley, and increase golf and golf -related revenues. Given the ongoing construction delays surrounding the resort —luxury hotels, spa, convention center, permanent clubhouse, and private residences —it will be essential to continually market SilverRock in a positive light throughout all phases of development. Budget Overview The 2025-2026 Marketing Plan is based on a slightly reduced budget of $171,186. It includes spending on: • Print advertising • Television • Digital marketing • Social media • Collateral materials • Partial tournament coordinator salary • Public relations • Supplies • Website and email marketing Of the total, $113,787 is allocated to advertising efforts. Print Advertising Print advertising will be reduced again this year but will maintain a presence in core local and regional publications, including: • Golfing Palm Springs • Desert Golf & Tennis • CV Golf Guides • Desert Golfing Digest These ads target Coachella Valley residents and resort/tourist golfers across Southern California. Most print campaigns now include bundled digital placements for added exposure. 308 TV & Radio SilverRock will continue running 30-second television spots on local network affiliates. No new commercials are planned until construction nears completion and the new clubhouse is operational. No radio advertising is budgeted for this fiscal year. In -Room Media SilverRock commercials continue to run in partnership with the Travelers Channel, which is broadcast in 18 local hotels representing over 3,500 rooms throughout the Coachella Valley. The Travelers Channel serves as a visual concierge for hotel guests, promoting area attractions, restaurants, history, and services. Digital Marketing Digital efforts include display banners on geo-targeted platforms such as: • ESPN LA • GolfChannel.com • PGA.com • SCGA.com Targeted keywords include "Golf," "Best Golf Courses," and "Tee Times in Greater Palm Springs/La Quinta," resulting in over 10 million impressions. SilverRock will continue strategic partnerships to maintain a strong digital presence. Social Media In partnership with GolfNow, SilverRock will maintain a strong and growing presence on platforms like Facebook and Instagram. • The Facebook page has nearly 20,000 followers and is a key communication tool. • Instagram efforts will expand, with more short -form "beauty clips" showcasing the golf course. Online Reviews, Reputation Management & Word -of -Mouth 309 Online platforms such as Google, Yelp, and GolfPass (powered by GolfNow) are actively monitored. All reviews receive a response within 48 hours. Reputation management remains a critical priority —especially during ongoing construction —to ensure guest satisfaction and maintain SilverRock's standing as a top golf destination. Content Email Marketing SilverRock will continue to collaborate with select publications and partners to deploy content - driven email marketing. These campaigns are designed to engage subscribers and promote both golf and food & beverage offerings. Website & Online Bookings Most tee times are now booked online and prepaid at the time of booking. A continued focus will be placed on: • Enhancing the mobile -friendly website • Improving user experience across desktop, tablet, and mobile • Promoting digital gift card purchases • Showcasing the SilverRock Grill menus (breakfast & lunch) SilverRock also offers a free app (available on iOS and Android), allowing golfers to book tee times instantly with no booking fees. Junior Golf Initiatives SilverRock proudly supports junior golf through: • Junior lessons and rates • Hosting the La Quinta High School Boys and Girls Golf Teams • Continued participation in the SCGA Youth on Course program, which allows juniors to access golf at affordable green fees. Collateral Materials Marketing collateral such as rack cards, scorecards, and information packets will be produced as needed. These materials promote SilverRock's identity and history, including its role as the former Home Course of the Bob Hope Classic (2008-2011). 310