Annual Plan FY 2025-2026 SilverRock ResortBUSINESS SESSION ITEM NO. 5
CONSIDERED AS BUSINESS SESSION ITEM NO. 6
City of La Quinta
CITY COUNCIL MEETING: June 4, 2024
STAFF REPORT
AGENDA Ti APPROVE SILVERROCK RESORT 2024/25 ANNUAL PLAN AND
APPROVE AMENDMENT NO. 7 TO THE GOLF COURSE MANAGEMENT AGREEMENT
WITH LANDMARK GOLF MANAGEMENT, LLC
RECOMMENDATION
A. Approve the SilverRock Resort 2024/25 Annual Plan.
B. Approve Amendment No. 7 to the Golf Course Management Agreement with
Landmark Golf Management, LLC.; and authorize the City Manager to execute the
amendment.
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 2024/25 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 $230,000 due to several
factors including increased operational expenses, re -allocation of resident card
sales revenue and continued on -site construction.
• Landmark has requested an increase to the advance amount due to inflationary
impacts to golf course operating expenses.
FISCAL IMPACT
The General Fund is projected to underwrite $500,000 of the overall 2024/25 SilverRock
expenses. The projected golf operations expenses (not including City staff oversight costs)
are $5,476,252 and projected golf operations revenue is $5,248,776 for a net loss of
$227,476. The City will also fund $310,000 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 2024/25 City Budget.
291
SilverRock Golf Course
Operations Revenue
$5,248,776
Operations Budget
-$5,476,252
Net Revenue
($227,476)
SilverRock Property Management/Oversight
General Fund Advance
500,000
City Management/Oversight
-310,000
Resident Card Revenue
150,000
Golf Course Net Revenue
-227,476
Final Surplus/(Deficit)
112,524
The additional $50,000 advance will be a one-time transfer to the golf operations bank
account to be utilized to pay normal operating expenses of the golf course.
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:
• 44,545 rounds of play; the average projected revenue is $108.53 per round, based
on the total revenue (less food and beverage) divided by the total rounds. The
average green fee is $98.93. 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.
• Minimum wage is proposed to increase $2.00 to $18 per hour on January 1, 2025.
• Continuing the 2% annual contribution of approximately $88,000 to the capital
reserve as contained in Amendment No. 2 to the Agreement. The current balance of
the capital reserve is $625,000.
• Increasing the annual management fee by 5% pursuant to Amendment No. 6.
• Removing golf cart lease costs due to purchase of a new golf cart fleet in January
2024.
292
The proposed advertising budget is $113,787 and is included in the Marketing Department
expenses ($171,186) on page 20 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.
The golf course bank account operating amount was set back in 2013 at $250,000. This
account is used to pay the normal operating expenses of the golf course by the
Management Company and is replenished twice monthly upon submittal of an invoice with
all corresponding documentation. Due to inflationary pressures on operational expenses,
Management has requested that the advance fund be increased to $300,000 in order to be
able to pay vendors in a timely manner. If this increase is approved, the proposed
Amendment No. 7 (Attachment 2) will be executed to amend Section 5.1 of the Agreement
to reflect this change.
ALTERNATIVES
Council may direct staff to make modifications to the Annual Plan.
Prepared by:
Approved by:
Bryan McKinney, P.E., Public Works Director/City Engineer
Jon McMillen, City Manager
Attachments: 1. SilverRock Resort 2024/25 Annual Plan
2. Amendment No. 7 to Agreement with Landmark Golf Management
293
ATTACHMENT 1
SILVERROCK®
RESORT
SilverRock Resort -Arnold Palmer Classic Course
2024-2025 ANNUAL PLAN
Prepared For:
City of La Quinta
SilverRock Resort
Prepared By:
Landmark Golf Management
Submitted:
May 17, 2024
294
SILVERROCK RESORT
Annual Plan
Fiscal Year 2024-2025
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
2024-2025 Assumptions 6, 7, 8, 9
Part III -Operational Financial Projections
2024-2025 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
295
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
FAIRWAY / TEES: TIF SPORT / 419
ROUGHS: TIF SPORT / 419
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
5/17/2024 1 296
SILVERROCK RESORT
Annual Plan
Fiscal Year 2024-2025
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
5/17/2024 2
297
SILVERROCK RESORT
Annual Plan
Fiscal Year 2024-2025
PHILOSOPHY STATEMENT
After nineteen 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 2024-2025
Annual Plan is implemented, SilverRock will embark on its 20th 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.
5/17/2024 3
298
Annual Plan 2024-2025 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)
5/17/2024
4
299
Key Employee Staffing
2024-2025 ANNUAL PLAN
RUN DATE: 17-May-24
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; 1
OUTSIDE SERVICES SUPERVISORS (FULL-1 1
DRIVING RANGE (PART-TIME) 1
CART/BAGNALET/BAG DROP (FULL-TIME) 1
CART/BAGNALET/BAG DROP (PART-TIME) 3
SHUTTLE DRIVER (PART-TIME) 1
3
4
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
1
1
2
1
92
8
0
4
8 8 9 11 15 15 16 16 16 16 12 8
GOLF SHOP
HEAD GOLF PROFESSIONAL (FULL TIME) 1
1ST ASSISTANT PROFESSIONAL (FULL TIM 0
MERCHANDISER (FULL TIME)
ASSISTANT PROFESSIONAL (FULL TIME) 1
SALES CLERKS (FULL TIME) 0
SALES CLERKS (PART TIME) 2
COURSE SERVICES
STARTERS (PART TIME)
RANGER/MARSHALS (PART TIME)
2
1 1 1 1 1 1 1 1 1
o 0 0 0 0 0 0 0 0
1 1 1 1 1 1 1 1 1
1 1 1 1 1 1 1 1 1
0 0 1 1 1 1 1 1 0
3 4 4 4 4 4 4 4 4 2
5
5 6 7 8 8 8 8 8 8 7
3 3 3 3
1 1 1
5
5 5
5 5
5
5 3
5 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 (FU 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 1 1 1 1 1
1 1 1 1 1 1
1 1 1 1 1 1 1
8 9 9 9 9 9 9
3 3 3 3 3 3 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
CHEF (FULL TIME) 1
COOK (FULL TIME) 1
PREP COOK (PART TIME) 0
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
2
91
0 0 0 0 0 0 0
1 1 1 1
1 1 1 2 2 2 2 2
0 1 2 2 3 3 3 3
1 1 1 1 1 1 1
1 1 1 1 1 1 1 1
2 1 3 4 4 4 4 3
1
0 1 1 1 1 1 1
2
2
0
0
6
6 7 6 10 12 13 13 13 12 9
G&A
DIRECTOR OF GOLF/GM (FULL TIME) 1 1 1 1 1 1 1 1 1 1 1 1
CLUB CONTROLLER (FULL TIME) 1 1 1 1 1 1 1 1 1 1 1 1
ADMINISTRATIVE ASSISTANT (FULL TIME) 1 1 1 1 1 1 1 1 1 1 1 1
CONSULTANT TO CONTROLLER 0 0 0 0 0 0 0 0 0 0 0 0
3
3 3 3 3 3 3 3 3 3 3 3
MARKETING/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
5/17/2024 5 300
SILVERROCK RESORT
2024-2025 ANNUAL PLAN
2024-2025 Assumptions
Revenue
Operations
It is assumed all construction of hotel/commercial components will be paused during the fiscal year
2024-2025. This will again have a negative impact on golf course operations during the summer of
2024 and into the entire season of 2024-2025. It is also assumed, maximum revenue is not
achievable given the current state of construction; unsightly construction fences, temporary dirt
cart paths, construction noises/dust, temporary facilities, construction trash that consistently spill
over to the course, reduced practice facilities, etc. In addition, access to the Ahmanson Ranch
House and parking will continue to be limited which will result in a reduction in Food & Beverage
Sales for the 2024-2025 fiscal year. However, all efforts will be made to make the experience the
best it can possibly be, despite the current state of construction challenges at SilverRock.
It is assumed the Permanent Clubhouse will not open during the 2024-2025 Fiscal Year. It is also
assumed that Golf Operations will continue to operate out of a Temporary Clubhouse (Double Wide
Trailers) located in the "dog bone" area adjacent to hole #2 tee boxes until a Permanent Clubhouse
opens. The SilverRock Grill will remain open at the existing Ahmanson Clubhouse in its current
location until the Permanent Clubhouse opens.
Lastly, it is assumed, the golf course will remain "SilverRock Resort", the rebranding to "Talus Golf
Club" may occur at a future date but not projected in the 2024-2025 Fiscal Year.
New Turf Grass Trial
This summer, a new turf grass trial will be introduced on the 5th hole. The plan is to eliminate the
existing turf (TifSport) on hole #5 and replant with various new varieties of Bermuda grass that have
proven to transition quicker and possibly may not have to be overseeded in the desert. Hole #5 will
be out of play from July through August 2024. To accommodate the closure of hole #5, hole #7, an
existing par 5, will be split into two (2) holes making the course still have 18 holes.
Golf & Merchandise
• July -August, the last tee time will be 12:00 p.m. with the Golf Shop being open 6:00 a.m. to
2:00 p.m. daily.
• Reduced traffic (due to ongoing construction) in Golf Shop will have a negative impact on
merchandise sales from July through October 2024.
5/17/2024 6
301
SILVERROCK RESORT
2024-2025 ANNUAL PLAN
Food & Beverage
• The Ahmanson Ranch House and the Grill at SilverRock will continue to operate with reduced
access and hours of operation during the summer of 2024, from July 1, 2024 through
September 2024.
Green Fees: A green fee includes golf cart and warm-up range balls. A combination of the various
green fee rates and green fee mix of Regular, Twilight, and Resident play is anticipated to yield an
average rate of $98.93 per round based on 44,545 annual paid rounds. The non-resident green fee
rates for the 2024-2025 fiscal year are projected to increase approximately 3% but may vary
depending upon market conditions. Green fee rates will continue to be based on market
conditions, dynamic pricing and course utilization levels.
La Quinta Resident rates will remain the same as the prior year; $60 (high season), $49 (shoulder
seasons) and $35 (summer season). Accompanied La Quinta Resident Guests will continue to
received 30% off prevailing posted rates (not including twilight or any discounted rates) and will
follow similar booking procedures as extended to a La Quinta Resident Card Holder; booking three
(3) days in advance.
It is assumed the overseeding dates will be September 30 - October 31, 2024. Annual overseeding
reduces revenues during these dates which is taken into consideration in these projections with the
course being closed these dates. For fiscal year 2024-2025, it is also projected that aerification will
occur in August 2024 and June of 2025 which reduces revenue for 5-7 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: 33% Resident, 25% Public, 10% Public Twilight, & 32%
Other (tournaments, wholesalers, juniors, resident guests, replays and discounts).
Miscellaneous and Other Revenue: Is based on $4.04 per round. This consists of golf club rentals,
golf club repairs, handicap fees, driving range fees, rider fees, and Independent Contractor's Fees
(Teaching Professionals).
Golf Shop Merchandise: Is based on retail sales of $5.56 per round.
Resident Card Fees: All resident card distribution and renewals will be issued out of the Wellness
Center for 2024-2025 Annual Plan. As a result, Annual Revenues of approximately $165,000 will be
omitted from SilverRock's revenue projections.
5/17/2024 7
302
SILVERROCK RESORT
2024-2025 ANNUAL PLAN
Cost of Goods Sold
Merchandise
Food & Beverage
Expenses
55%
33%
Mandated California Minimum Wage Increase: It is assumed, a new minimum wage increase to
$18 per hour will be implemented on January 1, 2025. This $2 per/hour increase will have a
significant impact on labor costs across all departments including, Outside Services, Golf Shop,
Course Maintenance and Food & Beverage affecting approximately 40+ employees. For the 2024-
2025 Annual Plan, this mandated increase will be used to calculate new increased wages effective
January 1, 2025.
Golf Carts, Bag Room, and Driving Range: Includes outside service, bag room, and driving range
staff plus supplies and operating expense for this department. Additional shuttle shifts will remain
in this year's Annual Plan to shuttle customers down and back from the restaurant, driving range
and practice area. This is a result of the location of the temporary golf clubhouse and the existing
restaurant at the Ahmanson Ranch House.
Golf Shop: Includes golf professionals, merchandising sales staff, receiving staff and golf shop
operational expenses.
Course Services: Includes course service staff consisting of course rangers/starters and related
department supplies and materials.
Golf Course Maintenance: Includes compensation and payroll related costs for the Golf Course
Maintenance Superintendent, grounds maintenance staff, supplies, and materials. Overseeding
dates are projected to be September 30-October 31, 2024, which results in projected higher labor
cost and supply costs during the annual overseeding process. Golf Course Superintendent
Education, training and travel expense are included in the 2024-2025 Annual Plan.
Water & Electrical: The 2024-2025 Annual Plan includes water and electrical costs to irrigate the
golf course & properly maintain the lake system. This is accounted for in the Golf Course
Maintenance budget.
Projected Annual Electric costs of $236,340 will cover 100% of the facilities electric costs including;
front entry waterfall, water well pump, golf course pump station, north village lake water falls &
5/17/2024 8
303
SILVERROCK RESORT
2024-2025 ANNUAL PLAN
circulation pumps, cart storage area and both clubhouses. These expenses will continue to be
budgeted in the 2024-2025 Annual Plan as water and electrical costs.
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. Refer to pages 22 & 23, for the Marketing Plan Narrative.
Clubhouse: Clubhouse expenses, maintenance/cleaning staff, landscape maintenance, parking lot
and entry drive clean up. Roving patrol expenses to secure the entire property of SilverRock
continues to be included in this department's operating budget.
Management Fee: For the 2024-2025 Annual Plan and per the Golf Course Management
Agreement, Landmark's Management Fee will be increased 5% to $11,436 per month.
Insurance: Per requirements of the Golf Course Management Agreement in the Annual Plan is the
cost for comprehensive golf club insurance policy, general liability and equipment. Property and
business interruption insurance has been removed from Landmark's insurance coverage.
G&A: Expenses include General Manager, Controller & Administrative Assistant Salaries,
Professional Fees, Payroll Processing Fees, Equipment Expenses and Equipment Rental.
Personal Property Lease Tax: Exempt, except personal property taxes on equipment purchases or
leases which are included in this Annual Plan.
Capital Reserves: Capital Reserves of 2% of green fees will be allocated in the 2024-2025 Annual
Plan upon City of La Quinta Staff direction.
Golf Carts Lease: A new golf cart fleet was purchased by City of La Quinta in January 2024. As a
result, the operating budget will not reflect golf cart lease payments for the 2024-2025 fiscal year
budget.
GPS Lease: The new monthly golf cart GPS rental/lease expense for the fleet of golf carts is $5,092
per month.
Golf Shop Trailer Lease: Due to the Developer in default and not able to pay the lease for the Golf
Shop Trailer and Restrooms, this expense of $5,200 per month will fall onto the Operations Budget.
5/17/2024 9
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2024-2025 ANNUAL PLAN
SilverRock Resort
CONSOLIDATED INCOME STATEMENT
FOR FISCAL YEAR - JULY 2024 - JUNE 2025
RIMY/AM 1741,21 m.w PM
DEPARTMENT
BUDGET
JUL.
AUG.
SEP.
OCT.
NOV.
DEC.
JAN.
FEB.
MAR.
APR.
MAY
JUN.
ROUNDS
ROUNDS
44,545
1,900
1,850
2,700
0
5,400
4,700
4,900
5,200
6,100
4,995
4,500
2,300
REVENUE
GREEN FEES
4,406,783
95,760
93,240
186,354
0
577,800
453,315
526,505
652,860
759,755
505,244
417,375
138,575
MISC. REV/RANGE/CARTS/RENTALS
179,960
4,150
3,550
4,150
1,150
18,000
22,300
28,350
29,500
30,600
21,645
11,420
5,145
GOLF SHOP MERCHANDISE
247,518
5,510
5,365
9,450
0
29,700
28,200
29,400
36,400
42,700
27,473
22,050
11,270
FOOD & BEVERAGE
774,989
19,000
18,870
34,560
0
94,770
86,010
97,412
101,660
120,780
98,901
75,656
27,370
TOTAL REVENUE
5,609,250
124,420
121,025
234,514
1,150
720,270
589,825
681,667
820,420
953,835
653,263
526,501
182,360
COST OF SALES
PRO SHOP
138,536
3,084
3,003
5,289
0
16,623
15,784
16,455
20,373
23,899
15,376
12,341
6,308
FOOD & BEVERAGE
221,939
5,455
5,541
10,213
0
27,440
24,652
27,661
29,039
34,380
27,832
21,551
8,175
TOTAL COST OF SALES
360,474
8,539
8,544
15,502
0
44,063
40,435
44,116
49,412
58,279
43,208
33,892
14,483
GROSS PROFIT
5,248,776
115,881
112,481
219,012
1,150
676,207
549,390
637,551
771,008
895,556
610,054
492,609
167,877
OPERATING EXPENSES
GOLF CARTS\BAGS\RANGE
459,670
23,835
23,835
24,956
20,110
57,799
41,159
49,992
49,992
49,617
49,117
39,702
29,558
GOLF SHOP
281,235
14,461
14,461
15,461
12,546
27,174
28,351
32,026
30,511
30,511
29,970
26,755
19,005
COURSE SERVICES
139,295
4,015
4,015
4,565
1,000
15,334
15,509
17,217
17,167
17,167
17,492
15,448
10,365
GOLF COURSE MAINTENANCE
2,075,925
155,646
136,731
157,131
376,878
152,966
156,756
155,487
149,955
153,107
165,112
147,195
168,959
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
520,777
41,969
42,019
43,219
43,669
43,769
47,069
44,019
43,069
43,069
42,769
42,869
43,269
MARKETING
171,186
5,037
5,037
6,132
17,087
22,457
17,375
22,580
20,225
20,900
13,705
12,450
8,205
CLUBHOUSE
168,276
13,698
13,698
13,698
16,198
13,698
13,698
14,198
13,698
14,198
13,698
13,698
14,098
MANAGEMENT FEE
137,232
11,436
11,436
11,436
11,436
11,436
11,436
11,436
11,436
11,436
11,436
11,436
11,436
CAPITAL RESERVES
88,136
1,915
1,865
3,727
0
11,556
9,066
10,530
13,057
15,195
10,105
8,348
2,772
INSURANCE
55,200
4,600
4,600
4,600
4,600
4,600
4,600
4,600
4,600
4,600
4,600
4,600
4,600
PERSONAL PROPERTY LEASE TAXES
15,000
6,000
0
5,000
4,000
0
0
0
0
0
0
0
0
LEASES
421,264
31,672
31,672
31,672
31,672
36,822
36,822
36,822
36,822
36,822
36,822
36,822
36,822
FOOD & BEVERAGE
609,473
36,263
35,213
38,279
21,996
51,981
60,177
74,192
71,372
72,817
62,299
50,401
34,482
TOTAL OPERATING EXPENSES
5,476,252
377,677
350,712
387,257
589,372
483,212
467,044
500,019
487,744
496,309
486,964
439,953
409,990
NET INCOME
(227,477)
(261,796)
(238,231)
(168,245)
(588,222)
192,995
82,346
137,532
283,264
399,247
123,090
52,656
(242,113)
NET INCOME %
-4.1%
-210.4%
-196.8%
-71.7%
-51149.8%
26.8%
14.0%
20.2%
34.5%
41.9%
18.8%
10.0%
-132.8%
Average Green Fee
$98.93
$50.40
$50.40
$69.02
#DIV/0!
$107.00
$96.45
$107.45
$125.55
$124.55
$101.15
$92.75
$60.25
Average $ Misc. Income per Rd
$4.04
$2.18
$1.92
$1.54
#DIV/0!
$3.33
$4.74
$5.79
$5.67
$5.02
$4.33
$2.54
$2.24
Average $ Merchandise per Rd
$5.56
$2.90
$2.90
$3.50
#DIV/0!
$5.50
$6.00
$6.00
$7.00
$7.00
$5.50
$4.90
$4.90
Total Average Revenue per Round
$108.53
$65.48
$65.42
$86.86
#DIV/0!
$133.38
$125.49
$139.12
$157.77
$156.37
$130.78
$117.00
$79.29
5/17/2024
10
305
2024-2025 ANNUAL PLAN
SilverRock Resort
Projections -July 2024 to June 2025
RUN DATE: 17-May-24 03:20 PM
PREPARED BY: Landmark Golf Management
Golf Rounds
Resident Rnds (Weekday)
Resident Rnds (Weekend)
Sub -Total Resident Rnds
0/0 of Total
Public Rnds (Weekday)
Public Rnds (Weekend)
Sub -Total Public Rnds
0/0 of Total
Public Twi (Weekday)
Public Twi (Weekend)
Sub -Total Twilight Rnds
0/0 of Total
Other (Weekday)
Other (Weekend)
Sub -Total Other
% 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 Rnds (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.
7,573
5,791
13,364
0.30
8,909
6,682
15,591
0.35
4,900
4,009
8,909
0.20
4,009
2,673
6,682
0.15
44545
OCT. NOV.
323 315 459 0 918
247 241 351 0 702
570 555 810 0 1620
DEC. JAN. FEB. MAR. APR. MAY JUN.
799
611
1410
833
637
1470
884
676
1560
1037
793
1830
849
649
1499
765
585
1350
391
299
690
380 370 540 0 1080 940 980 1040 1220 999 900 460
285 278 405 0 810 705 735 780 915 749 675 345
665 648 945 0 1890 1645 1715 1820 2135 1748 1575 805
209 204 297 0 594 517 539 572 671 549 495 253
171 167 243 0 486 423 441 468 549 450 405 207
380 370 540 0 1080 940 980 1040 1220 999 900 460
171 167 243 0 486
114 111 162 0 324
285 648 945 0 1890
1,900 1,850 2,700 5,400
423
282
1645
4,700
441
294
1715
4,900
468
312
1820
5,200
549
366
2135
6,100
450
300
1748
4,995
405
270
1575
4,500
207
138
805
2,300
$ 33.00 $ 33.00 $ 40.00 $ 49.00 $ 49.00 $ 49.00 $ 60.00 $ 60.00 $ 60.00 $ 49.00 $ 49.00 $ 49.00
$ 33.00 $ 33.00 $ 49.00 $ 49.00 $ 49.00 $ 49.00 $ 60.00 $ 60.00 $ 60.00 $ 49.00 $ 49.00 $ 49.00
$ 55.00 $ 55.00 $ 65.00 $ 75.00 $ 140.00 $ 120.00 $ 130.00 $ 165.00 $ 165.00 $ 135.00 $ 125.00 $ 60.00
$ 65.00 $ 65.00 $ 100.00 $ 85.00 $ 150.00 $ 125.00 $ 140.00 $ 175.00 $ 175.00 $ 145.00 $ 135.00 $ 75.00
$ 50.00 $ 50.00 $ 65.00 $ 80.00 $ 110.00 $ 105.00 $ 120.00 $ 135.00 $ 130.00 $ 100.00 $ 95.00 $ 65.00
$ 60.00 $ 60.00 $ 95.00 $ 80.00 $ 115.00 $ 105.00 $ 125.00 $ 140.00 $ 135.00 $ 110.00 $ 100.00 $ 75.00
$ 55.00 $ 55.00 $ 65.00 $ 70.00 $ 125.00 $ 120.00 $ 120.00 $ 135.00 $ 135.00 $ 110.00 $ 85.00 $ 50.00
$ 65.00 $ 65.00 $ 105.00 $ 80.00 $ 135.00 $ 120.00 $ 120.00 $ 145.00 $ 145.00 $ 115.00 $ 95.00 $ 65.00
387,023 $ 10,659 $ 10,379 $ 18,360 $ - $ 44,982 $ 39,151 $ 49,980 $ 53,040 $ 62,220 $ 41,608 $ 37,485 $ 19,159
299,118 $ 8,151 $ 7,937 $ 17,199 $ - $ 34,398 $ 29,939 $ 38,220 $ 40,560 $ 47,580 $ 31,818 $ 28,665 $ 14,651
1,115,615 $ 20,900 $ 20,350 $ 35,100 $ - $ 151,200 $ 112,800 $ 127,400 $ 171,600 $ 201,300 $ 134,865 $ 112,500 $ 27,600
911,854 $ 18,525 $ 18,038 $ 40,500 $ - $ 121,500 $ 88,125 $ 102,900 $ 136,500 $ 160,125 $ 108,641 $ 91,125 $ 25,875
507,100 $ 10,450 $ 10,175 $ 19,305 $ - $ 65,340 $ 54,285 $ 64,680 $ 77,220 $ 87,230 $ 54,945 $ 47,025 $ 16,445
443,876 $ 10,260 $ 9,990 $ 23,085 $ - $ 55,890 $ 44,415 $ 55,125 $ 65,520 $ 74,115 $ 49,451 $ 40,500 $ 15,525
430,308 $ 9,405 $ 9,158 $ 15,795 $ - $ 60,750 $ 50,760 $ 52,920 $ 63,180 $ 74,115 $ 49,451 $ 34,425 $ 10,350
311,891 $ 7,410 $ 7,215 $ 17,010 $ - $ 43,740 $ 33,840 $ 35,280 $ 45,240 $ 53,070 $ 34,466 $ 25,650 $ 8,970
4,406,783 $ 95,760 $ 93,240 $ 186,354 $ - $ 577,800 $ 453,315 $ 526,505 $ 652,860 $ 759,755 $ 505,244 $ 417,375 $ 138,575
$ 98.93 $ 50.40 $ 50.40 $ 69.02 #DIV/01 $ 107.00 $ 96.45 $ 107.45 $ 125.55 $ 124.55 $ 101.15 $ 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
102,000 $ 1,600 $ 1,500 $ 1,400 $ 10,000 $ 13,000 $ 17,000 $ 18,000 $ 18,500 $ 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 179,960 $ 4,150 $ 3,550 $ 4,150 $ 1,150 $ 18,000 $ 22,300 $ 28,350 $ 29,500 $ 30,600 $ 21,645 $ 11,420 $ 5,145
5/17/2024 11
306
2024-2025 ANNUAL PLAN
SilverRock Resort
Projections - July 2024 to June 2025
RUN DATE: 17-May-24 03:20 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
44,545
$5.56
$247,518
1,900 1,850 2,700
$2.90 $2.90 $3.50
5,510 5,365 9,450
0 5,400 4,700 4,900 5,200 6,100 4,995 4,500 2,300
$2.50 $5.50 $6.00 $6.00 $7.00 $7.00 $5.50 $4.90 $4.90
0 29,700 28,200 29,400 36,400 42,700 27,473 22,050 11,270
185,638 4,133 4,024 7,088 0 22,275 21,150 22,050 27,300 32,025 20,604 16,538 8,453
61,879 1,378
1,341 2,363 0 7,425 7,050 7,350 9,100 10,675 6,868 5,513 2,818
TOTAL MERCHANDISE REVENUE 247,518 5,510 5,365 9,450 0 29,700 28,200 29,400 36,400 42,700 27,473 22,050 11,270
COST OF SALES 55.97% 55.97% 55.97% 55.97% #DIV/0! 55.97% 55.97% 55.97% 55.97% 55.97% 55.97% 55.97% 55.97%
COS - Merchandise (58%) 143,560 3,196 3,112 5,481 0 17,226 16,356 17,052 21,112 24,766 15,934 12,789 6,537
Purchase Disc Taken - (5%) (7,178) (160) (156) (274) 0 (861) (818) (853) (1,056) (1,238) (797) (639) (327)
Freight - Merchandise 2,153 48 47 82 0 258 245 256 317 371 239 192 98
TOTAL COST OF SALES
138,536 3,084 3,003 5,289 0 16,623 15,784 16,455 20,373 23,899 15,376 12,341 6,308
GROSS PROFIT 108,982 2,426 2,362 4,161 0 13,077 12,416 12,945 16,027 18,801 12,096 9,709 4,962
SALARIES AND BENEFITS
Salaries and Wages 207,300 10,040 10,040 10,890 8,094 20,782 21,782 23,682 23,682 23,682 23,222 17,502 13,902
Payroll Taxes 20,212 979 979 1,062 789 2,026 2,124 2,309 2,309 2,309 2,264 1,706 1,355
Workers' Compensation 16,380 793 793 860 640 1,642 1,721 1,871 1,871 1,871 1,835 1,383 1,098
Health Insurance/Benefits 18,468 1,539 1,539 1,539 1,539 1,539 1,539 1,539 1,539 1,539 1,539 1,539 1,539
TOTAL SALARIES AND BENEFITS
262,360 13,351 13,351 14,351 11,061 25,989 27,166 29,401 29,401 29,401 28,860 22,130 17,895
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
281,235 14,461 14,461 15,461 12,546 27,174 28,351 32,026 30,511 30,511 29,970 26,755 19,005
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
5/17/2024 12
307
2024-2025 ANNUAL PLAN
SilverRock Resort
Projections - July 2024 to June 2025
RUN DATE: 17-May-24 03:20 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
22,483 1,069 1,069 1,172 688 2,130 2,130 2,712 2,712
16,416 1,026 1,026 1,026 1,026 1,539 1,539 1,539 1,539
34,320 34,320 24,960 17,760
4,273 4,273 3,108 2,211
2,712 2,712 1,972 1,403
1,539 1,539 1,539 1,539
358,857 17,312 17,312 18,883 11,512 33,986 33,986 42,844 42,844 42,844 42,844 31,579 22,913
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 525 25 25 25 50 50 50 50 50 50 50 50 50
Printing / Stationary 420 0 0 0 0 0 0 70 70 70 70 70 70
Cart Maintenance & Repairs 18,036 1,503 1,503 1,503 1,503 1,503 1,503 1,503 1,503 1,503 1,503 1,503 1,503
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 7,200 600 600 600 600 600 600 600 600 600 600 600 600
TOTAL OTHER EXPENSES
TOTAL EXPENSES
41,431 3,003 3,003 3,003 5,028 3,528 3,528 3,023 3,023 3,523 3,023 4,523 3,223
459,670 23,835 23,835 24,956 20,110 57,799 41,159 49,992 49,992 49,617 49,117 39,702 29,558
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
5/17/2024
13 308
2024-2025 ANNUAL PLAN
SilverRock Resort
Projections - July 2024 to June 2025
RUN DATE: 17-May-24 03:20 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
9,088 258 258 291 0 1,011 1,011 1,138 1,138 1,138 1,138 1,024
8,640
842
683
135,319 3,840 3,840 4,340 0 15,059 15,059 16,942 16,942 16,942 16,942 15,248 10,165
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 139,295
4,015 4,015
4,565 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
15,334 15,509
17,217 17,167
17,167 17,492
15,448 10,365
5/17/2024 14
309
2024-2025 ANNUAL PLAN
SilverRock Resort
Projections - July 2024 to June 2025
RUN DATE: 17-May-24 03:20 PM
PREPARED BY: Landmark Goff 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
41,298 2,910 3,042 3,042 3,940 3,449
100,863 8,106 8,106 8,106 8,106 8,619
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
3,532 3,584 3,648 3,661 3,648 3,498 3,344
8,619 8,619 8,619 8,619 8,619 8,619 8,106
1,105,480 78,111 81,946 81,946 108,743 92,331 93,596 94,827 97,145 97,597 97,152 93,535 88,549
114,000 6,000 4,000 9,000 30,000 10,000 10,000 10,000 4,000 4,000 15,000 4,000 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
47,000 14,000 1,000 8,000 8,000 2,000 0 0 3,000 0 6,000 0 5,000
10,000 0 0 0 0 0 10,000 0 0 0 0 0 0
8,500 0 0 0 6,000 2,500 0 0 0 0 0 0 0
150,000 0 0 0 150,000 0 0 0 0 0 0 0
6,000 500 500 500 500 500 500 500 500 500 500 500 500
15,500 7,500 2,500 1,000 0 0 0 0 0 0 0 0 4,500
19,000 3,000 0 3,000 0 0 0 0 0 0 0 3,000 10,000
480,600 37,800 14,800 28,300 221,300 21,800 27,300 22,300 14,300 13,300 28,300 16,300 34,800
REPAIRS AND MAINTENANCE
Buildings & Bridges 6,000 500 500 500 500 500 500 500 500 500 500 500 500
Equipment 46,500 3,000 3,500 4,000 10,000 5,000 2,500 2,500 3,500 5,000 2,500 2,500 2,500
Irrigation System 29,000 4,500 4,500 2,500 2,500 1,000 1,000 1,500 2,000 2,000 2,500 2,500 2,500
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 160,702 13,346 13,846 18,346 18,896 11,846 9,346 9,846 11,346 12,846 10,846 10,346 19,846
5/17/2024 15
310
2024-2025 ANNUAL PLAN
SilverRock Resort
Projections - July 2024 to June 2025
RUN DATE: 17-May-24 03:20 PM
PREPARED BY: Landmark Golf Management
MAINTENANCE DEPARTMENT - 63
TOTAL
JUL. AUG. SEP. OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY JUN.
OTHER EXPENSES
Contract Services Soil/Tissue Tests 4,500 0 0 1,500
Dues and Subscriptions 1,100 0 0 0
Employee Education 3,900 50 50 50
Equipment Rental 3,400 200 150 150
Auto Expense 4,800 400 400 400
Licenses and Permits 4,300 100 0 0
Miscellaneous 1,200 100 100 100
Supplies 5,950 750 750 750
Propane/Natural Gas 360 30 30 30
Safety Equipment & Training 3,850 200 100 750
Telephone/DSL 5,700 475 475 475
Waste/Trash Removal 6,288 524 524 524
Uniforms & Linen/Towels 11,040 920 920 920
0
0
50
1,000
400
250
100
500
30
800
475
524
920
0
0
50
600
400
0
100
500
30
500
475
524
920
0
0
50
200
400
50
100
500
30
400
475
524
920
1,500
800
50
200
400
0
100
500
30
400
475
524
920
0
200
1,000
200
400
0
100
500
30
200
475
524
920
0
0
2,400
200
400
1,000
100
500
30
200
475
524
920
0
0
50
200
400
2,900
100
500
30
100
475
524
920
1,500
0
50
200
400
0
100
100
30
100
475
524
920
0
100
50
100
400
0
100
100
30
100
475
524
920
TOTAL OTHER EXPENSES 56,388 3,749 3,499 5,649 5,049 4,099 3,649 5,899 4,549 6,749 6,199 4,399 2,899
TOTAL MAINTENANCE EXP. (EXCL Landscaping)
LANDSCAPE
Contract Labor
Landscape Wages & Benefits
1,803,170 133,006 114,091 134,241 353,988 130,076 133,891 132,872 127,340 130,492 142,497 124,580 146,094
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 2,075,925 155,646 136,731 157,131 376,878 152,966 156,756 155,487 149,955 153,107 165,112 147,195 168,959
(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 2,409,509 182,776 162,861 184,511 405,058 186,586 181,781 182,407 175,795 179,977 194,952 177,425 195,378
5/17/2024 16 311
2024-2025 ANNUAL PLAN
SilverRock Resort
Projections - July 2024 to June 2025
RUN DATE: 17-May-24 03:20 PM
PREPARED BY: Landmark Goo' 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.
311,607 25,967 25,967 25,967 25,967 25,967 25,967 25,967 25,967 25,967 25,967 25,967 25,967
30,382 2,532 2,532 2,532 2,532 2,532 2,532 2,532 2,532 2,532 2,532 2,532 2,532
24,622 2,052 2,052 2,052 2,052 2,052 2,052 2,052 2,052 2,052 2,052 2,052 2,052
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
428,387 35,699 35,699 35,699 35,699 35,699 35,699 35,699 35,699 35,699 35,699 35,699 35,699
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) 13,200 1,100 1,100 1,100 1,100 1,100 1,100 1,100 1,100 1,100 1,100 1,100 1,100
Uniforms 2,000 150 150 150 350 150 150 150 150 150 150 150 150
Professional Fees (I.T. & Safety Fees) 18,000 1,500 1,500 1,500 1,500 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 18,000 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500
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 6,000 100 100 100 100 1,000 4,000 100 100 100 100 100 100
TOTAL OTHER EXPENSES 85,090 6,120 6,170 6,520 6,470 7,170 10,520 7,620 6,870 6,620 6,620 6,920 7,470
TOTAL G & A EXPENSES
520,777 41,969 42,019 43,219 43,669 43,769 47,069 44,019 43,069 43,069 42,769 42,869 43,269
Uniforms- Benefit to be shared between GM & Controller
Entertainment & Promotion - GM promoting property for potential clients
5/17/2024
17 312
2024-2025 ANNUAL PLAN
SilverRock Resort
Projections - July 2024 to June 2025
MARKETING 17-May-24 03:20 PM
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
3,591
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 0 513 513 513 513
1,250 1,250 1,250
122 122 122
99 99 99
513 513 513
21,239
1,471 1,471
1,471 1,471
1,471 1,984
1,984 1,984
1,984 1,984
1,984 1,984
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
171,186 5,037 5,037 6,132 17,087 22,457 17,375 22,580 20,225 20,900 13,705 12,450 8,205
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
5/17/2024
18 313
2024-2025 ANNUAL PLAN
SilverRock Resort
Projections - July 2024 to June 2025
MARKETING 16-May-24 11:20 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
2,400 200 200 200 200 200 200 200 200
200
200
200
200
200 200 200 200
4,800 400 400 400 400 400 400 400 400 400 400 400 400
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) 85,200 7,100 7,100 7,100 7,100 7,100 7,100 7,100 7,100 7,100 7,100 7,100 7,100
Miscellaneous 0 0 0 0 0 0 0 0 0 0 0 0 0
TOTAL OTHER EXPENSES 141,636
11,478 11,478
11,478 13,978
11,478 11,478
11,978 11,478
11,978 11,478
11,478 11,878
TOTAL CLUBHOUSE EXPENSES 166,836
13,578 13,578
13,578 16,078
13,578 13,578
14,078 13,578
14,078 13,578
13,578 13,978
Expendable Supplies made up of: Locksmith, Trashbags, Lightbulbs, Mats,
Items related to Maintenance of Clubhouse
5/17/2024 19
314
2024-2025 ANNUAL PLAN
SilverRock Resort
Projections - July 2024 to June 2025
RUN DATE: 17-May-24 03:20 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
137,232 11,436 11,436 11,436 11,436 11,436 11,436 11,436 11,436 11,436 11,436 11,436 11,436
88,136 1,915 1,865 3,727 0 11,556 9,066 10,530 13,057 15,195 10,105 8,348 2,772
55,200 4,600 4,600 4,600 4,600 4,600 4,600 4,600 4,600 4,600 4,600 4,600 4,600
15,000 6,000 0 5,000 4,000 0 0 0 0 0 0 0 0
295,568 23,951 17,901 24,763 20,036 27,592 25,102 26,566 29,093 31,231 26,141 24,384 18,808
LEASE EXPENSES
Golf Cart Maint 25,200 2,100 2,100 2,100 2,100 2,100 2,100 2,100 2,100 2,100 2,100 2,100 2,100
Trailer Leases 62,400 5,200 5,200 5,200 5,200 5,200 5,200 5,200 5,200 5,200 5,200 5,200 5,200
Golf Course Maintenance Lease 252,600 18,150 18,150 18,150 18,150 22,500 22,500 22,500 22,500 22,500 22,500 22,500 22,500
GPS Lease (Up -Link) 60,864 5,072 5,072 5,072 5,072 5,072 5,072 5,072 5,072 5,072 5,072 5,072 5,072
Equipment Rental Other 20,200 1,150 1,150 1,150 1,150 1,950 1,950 1,950 1,950 1,950 1,950 1,950 1,950
421,264 31,672 31,672 31,672 31,672 36,822 36,822 36,822 36,822 36,822 36,822 36,822 36,822
5/17/2024 20
315
2024-2025 Annual Budget
2024-2025 Annual Budget
RUN DATE: 17-May-24 03:20 PM
PREPARED BY: Landmark Golf Management
FOOD & BEVERAGE DEPT - 62 TOTAL I JUL. I AUG. I SEP. I OCT. I NOV. I DEC. I JAN. I FEB. I MAR.
FOOD REVENUE
TOTAL NUMBER OF ROUNDS 44,545 1,900 1,850 2,700
GRILL ROOM
APR.
MAY
JUN.
5,400 4,700 4,900 5,200 6,100 4,995 4,500 2,300
AVERAGE FOOD REVENUE PER ROUND $6.75 $5.00 $5.00 $6.00 $2.50 $8.00 $8.00 $8.50 $13.50 $13.50 $13.00 $7.00 $6.00
TOTAL GRILL ROOM FOOD REVENUE 338,710 9,500 9,250 16,200 0 43,200 37,600 41,650 44,200 51,850 39,960 31,500 13,800
BEVERAGE CARTS
AVERAGE FOOD REVENUE PER ROUND $0.85 $0.25 $0.50 $0.75 $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 $1.00 $0.75
TOTAL BEVERAGE CART FOOD REVENUE 40,945 475 925 2,025 0 5,400 4,700 4,900 5,200 6,100 4,995 4,500 1,725
AVERAGE FOOD $ PER ROUND $7.60 $5.25 $5.50 $5.00 $3.50 $8.50 $8.50 $9.50 $9.50 $8.25 $6.50 $8.00 $6.75
BEVERAGE REVENUE
TOTAL NUMBER OF ROUNDS
GRILL ROOM/TERRACE
AVERAGE BEVERAGE REVENUE PER ROUND
TOTAL SNACK SHOP BEVERAGE REVENUE
BEVERAGE CARTS
AVERAGE BEVERAGE REVENUE PER ROUND
'OTAL BEVERAGE CART BEVERAGE REVENUE
AVERAGE BEVERAGE $ PER ROUND
44,545 1,900 1,850 2,700 5,400 4,700 4,900 5,200 6,100 4,995 4,500 2,300
$3.06 $1.50 $1.50 $1.50 $1.50 $3.75 $4.50 $4.00 $4.00 $4.00 $4.00 $4.50 $2.00
160,705 2,850 2,775 4,050 0 20,250 21,150 19,600 20,800 24,400 19,980 20,250 4,600
45.43%
$3.96 $3.25 $4.00 $3.50 $2.50 $4.00 $4.00 $5.50 $5.50 $5.25 $4.00 $3.75 $2.25
193,030 6,175 7,400 9,450 0 21,600 18,800 26,950 28,600 32,025 19,980 16,875 5,175
54.57%
$4.75 $5.50 $5.00 $4.00 $7.75 $8.50 $6.00 $9.50 $9.25 $8.00 $8.25 $4.25
FOOD REVENUE
Snack Shop/Terrace Food $ 338,710 $ 9,500 $ 9,250 $ 16,200 $ - $ 43,200 $ 37,600 $ 41,650 $ 44,200 $ 51,850 $ 39,960 $ 31,500 $ 13,800
Beverage Can Food $ 40,945 $ 475 $ 925 $ 2,025 $ - $ 5,400 $ 4,700 $ 4,900 $ 5,200 $ 6,100 $ 4,995 $ 4,500 $ 1,725
Other Food Income $ - $ - $ - $ - $ - $ - $ -
Non -Taxable Tournament Site Fees $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
SpeCial Events $ - $ - $ - $ - $ -
TOTAL FOOD REVENUE
$ 379,655 $ 9,975 $ 10,175 $ 18,225 $ - $ 48,600 $ 42,300 $ 46,550 $ 49,400 $ 57,950 $ 44,955 $ 36,000 $ 15,525
BEVERAGE REVENUE
Snack Shop/Terrace Beer &Wine $ 128,564 $ 2,280 $ 2,220 $ 3,240 $ - $ 16,200 $ 16,920 $ 15,680 $ 16,640 $ 19,520 $ 15,984 $ 16,200 $ 3,680
Snack Shop/Terrace Sodas $ 32,141 $ 570 $ 555 $ 810 $ - $ 4,050 $ 4,230 $ 3,920 $ 4,160 $ 4,880 $ 3,996 $ 4,050 $ 920
Beverage Can Beer &Wine $ 208,748 $ 5,558 $ 5,180 $ 7,560 $ - $ 23,760 $ 20,680 $ 29,645 $ 28,600 $ 35,228 $ 29,970 $ 16,875 $ 5,693
Beverage Cart Sodas $ 25,882 $ 618 $ 740 $ 4,725 $ - $ 2,160 $ 1,880 $ 1,617 $ 2,860 $ 3,203 $ 3,996 $ 2,531 $ 1,553
TOTAL BEVERAGE REVENUE
395,334 $ 9,025 $ 8,695 $ 16,335 $ - $ 46,170 $ 43,710 $ 50,862 $ 52,260 $ 62,830 $ 53,946 $ 39,656 $ 11,845
TOTAL FOOD & BEVERAGE REVENUE $ 774,989 $ 19,000 $ 18,870 $ 34,560 $ $ 94,770 $ 86,010 $ 97,412 $ 101,660 $ 120,780 $ 98,901 $ 75,656 $ 27,370
LESS COST OF SALES
COS- Food (37%) $ 136,676 $ 3,591 $ 3,663 $ 6,561 $ - $ 17,496 $ 15,228 $ 16,7513 $ 17,784 $ 20,862 $ 16,184 $ 12,960 $ 5,589
COS - Beer &Wine (25%) $ 70,757 $ 1,567.50 $ 1,554.00 $ 2,268.00 $ - $ 8,391.60 $ 7,896.00 $ 9,518.25 $ 9,500.40 $ 11,496.98 $ 9,650.34 $ 6,945.75 $ 1,968.23
COS- Sodas(27%) $ 14,506 $ 296.88 $ 323.75 $ 1,383.75 $ - $ 1,552.50 $ 1,527.50 $ 1,384.25 $ 1,755.00 $ 2,020.63 $ 1,998.00 $ 1,645.31 $ 618.13
COS- Employee Meals $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -
TOTAL COST OFSALES $ 221,939 $ 5,455 $ 5,541 $ 10,213 $ - $ 27,440 $ 24,652 $ 27,661 $ 29,039 $ 34,380 $ 27,832 $ 21,551 $ 8,175
GROSS PROFIT $ 553,051 $ 13,545 $ 13,329 $ 24,347 $ - $ 67,330 $ 61,359 $ 69,752 $ 72,621 $ 86,400 $ 71,069 $ 54,105 $ 19,195
SALARIES AND BENEFITS
Salaries and Wages $ 389,900 $ 20,548 $ 20,548 $ 22,160 $ 9,955 $ 32,397 $ 40,782 $ 49,209 $ 49,209 $ 49,209 $ 42,732 $ 32,566 $ 20,585
Payroll Taxes $ 42,889 $ 2,260 $ 2,260 $ 2,438 $ 1,095 $ 3,564 $ 4,486 $ 5,413 $ 5,413 $ 5,413 $ 4,701 $ 3,582 $ 2,264
Workers' Compensation $ 18,559 $ 978 $ 978 $ 1,055 $ 474 $ 1,542 $ 1,941 $ 2,342 $ 2,342 $ 2,342 $ 2,034 $ 1,550 $ 980
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 $ 524,517 $ 29,883 $ 29,883 $ 31,749 $ 17,621 $ 43,601 $ 53,306 $ 63,062 $ 63,062 $ 63,062 $ 55,564 $ 43,796 $ 29,927
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 $
REPAIRS AND MAINTENANCE
Equipment Repair
9,355 $ 625 $ 575 $ 575 $ 1,180 $ 550 $ 750 $ 1,050 $ 850 $ 850 $ 850 $ 750 $ 750
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 8 - 8 2,400 8 2,500 $ 2,500 8 2,700 8 2,700 8 2,080 8 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
$ 609,473 $ 36,263 $ 35,213 $ 38,279 $ 21,996 $ 51,981 $ 60,177 $ 74,192 $ 71,372 $ 72,817 $ 62,299 $ 50,401 $ 34,482
TOTAL FOOD & BEVERAGE PROFIT (Loss) $ (56,422) $ (22,719) $ (21,884) $ (13,932) $ (21,99621$ 15,349 $ 1,181 $ (4,440) $ 1,249 $ 13,583 $ 8,770 $ 3,704 $ (15,287)
5/17/2024
316
SilverRock Resort
2024-2025 Marketing Plan Narrative
OBJECTIVE: Continue 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. In light of the paused construction around the
golf course of two luxury hotels, spa, convention center, permanent clubhouse and
private residences, it will be imperative to continually market SilverRock in a positive
light during all construction phases of the development.
The 2024-2025 Marketing Plan is built around a slightly scaled back budget of
$171,186. The total Marketing Plan includes: reduced print advertising, TV, digital
marketing, social media, collateral materials, partial tournament coordinator salary,
public relations, supplies, internet websites and email marketing. The total Advertising
budget will be $113,787 for the year.
PRINT ADVERTISING
Continuing from last year, further reduction in print advertising will be evident, however
SilverRock will still have a presence in a few staple local & regional magazines (Golfing
Palm Springs, Desert Golf & Tennis, CV Golf Guides, Desert Golfing Digest). These
publications will target the Coachella Valley Residents and tourist/resort golfers in local,
regional and Southern California golf and travel publications. Print advertising consists
of golf and travel magazines and regional directories. All print advertising now includes
a digital component that is included in each buy.
TV & RADIO
Television commercials (30 seconds) are placed on some local network affiliates. There
is no plan for a new commercial to be created until construction around the golf course
is further along and the new Clubhouse is complete. For this fiscal year, there is no
Local radio ads planned in the advertising budget.
IN ROOM MEDIA
In conjunction with the Travelers Channel, currently the SilverRock commercial is
showcased in 18 local hotels representing over 3,500 hotel rooms throughout the
Coachella Valley.
The Travelers Channel operates in each hotel, and becomes the hotels local in room
concierge. The Travelers Channel primary goal is to visually promote the local area,
points of interest, history, services, restaurants, shopping, and to help visitors enjoy
their stay.
DIGITAL MARKETING
The marketing plan includes website display banners through the geo target channels
like ESPN LA, GolfChannel.com, PGA.com, SCGA.com, and anyone searching
keywords such as Golf, Best Golf Courses, Tee Times in Greater Palm Springs/La
Quinta producing 10 million impressions. Included in this 2024-2025 Marketing Plan is
an ongoing partnership to continue a strong presence in the digital marketing sector.
5/17/2024 22 317
SOCIAL MEDIA
Working in partnership with Golf Now, social media has proven to be a very successful,
powerful and cost-effective method of promoting SilverRock. There will be a continued
effort and focus on social media including enhancing SilverRock's Facebook "fan base"
which has generated nearly 20,000 likes and has been very effective way of
communicating SilverRock's news and information. Increased presence on Instagram
will continue this year with short beauty video clips of the golf course.
ONLINE REVIEWS / REPUTATION MANAGEMENT / WORD OF MOUTH
Online reviews for SilverRock provide a great feedback tool for management but are
also helpful for consumers when deciding which golf course to play for their next golf
trip. Any review on Google, Yelp or Golf Pass (powered by Golf Now) are
acknowledged and responded to within 48 hours of a review or post. It is critical to
maintain this reputation during and throughout the construction phases of the
development at SilverRock.
CONTENT EMAIL MARKETING
Working in collaboration with several magazines, a continued effort will be implemented
to utilize content email marketing as a strategic component of this year's marketing
plan. This helps to engage and inform subscribers to be used to promote the course
for both golf and food and beverage.
WEBSITE & ONLINE BOOKINGS
The majority of all tee times are booked online and prepaid upon booking; a continued
emphasis on the mobile website-booking interface that allows visitors to navigate
SilverRock's website more efficiently and effectively will again be a priority for 2024-
2025. The SilverRock website is a responsive website which allows any user with a PC,
tablet or mobile phone to navigate the SilverRock website. Customers now have the
ability to purchase digital gift cards through the SilverRock.org website. In addition, the
SilverRock Grill menu for breakfast and lunch are displayed on the SilverRock website.
SilverRock also offers a free App (available on both Droid and iPhones) which allows
golfers to book tee times instantly through the App with no booking fees.
JUNIOR GOLF
SilverRock will continue to support local Junior Golf by offering Junior Lessons, Junior
Rates and being a host course for the La Quinta High School Boys and Girls Golf
Teams. SilverRock will also continue to participate in SCGA's Youth on Course
program which will provide juniors in Southern California another avenue to have
access to golf courses at affordable green fees.
COLLATERAL MATERIALS
Rack cards, scorecards, and information packets presenting SilverRock Resort are
used as marketing tools for SilverRock Resort. Printed material will be produced, as
needed, to promote SilverRock Resort as a former Home Course of the Bob Hope
Classic 2008-2011.
5/17/2024 23
318
ATTACHMENT 2
AMENDMENT NO. 7
TO GOLF COURSE MANAGEMENT AGREEMENT
This Amendment No. 7 ("Amendment 7") to Golf Course Management Agreement
("Agreement") is made and entered as of the 1st day of July 2024 ("Effective Date") by
and between the CITY OF LA QUINTA ("City"), a California municipal corporation, and
LANDMARK GOLF MANAGEMENT, LLC. ("Manager").
RECITALS
WHEREAS, on or about July 1, 2013, the City and Manager entered into an
Agreement to provide services related to managing golf course operations at SilverRock
Resort; and
WHEREAS, on or about July 1, 2018, the City and Manager executed Amendment
No. 1 and mutually agreed to amend:
• Section 2.2 Management Term by extending the Term for one additional year,
from July 1, 2018 until June 30, 2019 ("Extended Term");
• Section 4.1.1 Management Fee. by increasing the Management Fee for a total
not to exceed amount of $114,000 for fiscal year 2018/19;
• Section 8.1 Termination by City granting the City sole discretion, without
penalty or cause to terminate the Agreement on any date after June 30, 2019
with a minimum sixty (60) day prior Written Notice on early termination to
Landmark; and
WHEREAS, on or about June 19, 2019, the City and Manager executed
Amendment No. 2 and mutually agreed to amend:
• Section 2.2 Management Term by extending the Term for one additional year,
from July 1, 2019 to June 30, 2020 ("Extended Term");
• Section 3.10.1 Capital Improvement Funds by suspending deposit from the
Golf Course Accounts for the 2% Capital Improvement Funds until June 30,
2020;
• Section 4.1.1 Management Fee by increasing the annual management fee by
4% for a total not to exceed amount of $119,000 for fiscal year 2019/20; and
• Section 8.1 Termination by City granting the City sole discretion, without
penalty or cause to terminate the Agreement on any date after June 30, 2020
with a minimum sixty (60) day prior Written Notice on early termination to
Landmark; and
WHEREAS, on or about June 16, 2020, the City and Manager executed
Amendment No. 3 and mutually agreed to amend:
• Section 2.2 Management Term by extending the Term for one additional year,
from July 1, 2020 to June 30, 2021 ("Extended Term");
• Section 3.10.1 Capital Improvement Funds by suspending deposit from the
Golf Course Accounts for the 2% Capital Improvement Funds until June 30,
2021;
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• Section 4.1.1 Management Fee by decreasing the annual fee by 5% to a total
not to exceed amount of $112,632 for fiscal year 2020/21; and
WHEREAS, on or about June 1, 2021, the City and Manager executed
Amendment No. 4 and mutually agreed to amend:
• Section 2.2 Management Term by extending the Term for one additional year,
from July 1, 2021 to June 30, 2022 ("Extended Term");
• Section 3.10.1 Capital Improvement Funds by reinstating deposits from the
Golf Course Accounts for the 2% Capital Improvement Funds until June 30,
2022;
• Section 4.1.1 Management Fee by implementing an annual increase to the
annual fee, reinstating it to the previous not to exceed amount of $118,560 for
fiscal year 2021/22; and
WHEREAS, on or about June 21, 2022, the City and Manager executed
Amendment No. 5 and mutually agreed to amend:
• Section 2.2 Management Term by extending the Term for one additional year,
from July 1, 2022 to June 30, 2023 ("Extended Term");
• Section 3.10.1 Capital Improvement Funds by reinstating deposits from the
Golf Course Accounts for the 2% Capital Improvement Funds until June 30,
2023;
• Section 4.1.1 Management Fee by implementing an annual increase to the
annual fee, reinstating it to the previous not to exceed amount of $124,488 for
fiscal year 2022/23; and
WHEREAS, on or about June 20, 2023, the City and Manager executed
Amendment No. 6 and mutually agreed to amend:
• Section 2.2 Management Term by extending the Term for three additional
years, from July 1, 2023 to June 30, 2026 ("Extended Term");
• Section 3.10.1 Capital Improvement Funds by reinstating deposits from the
Golf Course Accounts for the 2% Capital Improvement Funds until June 30,
2026;
• Section 4.1.1 Management Fee by implementing a 5% annual increase to the
annual fee, for a total not to exceed amount of $130,704 for fiscal year 2023/24
and an annual 5% increase for consecutive years; and
WHEREAS, Section 5.1 Golf Course Accounts establishes that a Golf Course
Account be established with a $250,000 Advance to be utilized to pay Golf Course
Expenses, with such Expenses reimbursed by the City through a twice monthly invoicing
process to replenish such Advance; and
WHEREAS, the City and Manager mutually agree to execute Amendment No. 7 to
the Agreement, raising the Advance amount established in Section 5.1 Golf Course
Accounts by $50,000 to a total of $300,000.
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NOW, THEREFORE, in consideration of the mutual covenants herein contained,
the parties agree as follows:
AMENDMENT
In consideration of the foregoing Recitals and the covenants and promises hereinafter
contained, and for good and valuable consideration, the sufficiency and receipt of which
are hereby acknowledged, the parties hereto agree as follows:
Section 5.1 Golf Course Accounts is amended as follows:
The amount of Advance funds shall be raised by $50,000 from $250,000 to a total
of $300,000 for the purpose of paying routine Golf Course Expenses.
In all other respects, the Agreement, Amendment No. 1, Amendment No. 2, Amendment
No. 3, Amendment No. 4, Amendment No. 5 and Amendment No. 6 shall remain in effect.
IN WITNESS WHEREOF, the City and Manager have executed this Amendment
No. 7 to the Agreement on the respective dates set forth below.
CITY OF LA QUINTA
a California municipal corporation
and Charter City
LANDMARK GOLF MANAGEMENT, LLC
Jon McMillen, City Manager Andy Vossler, President & CEO
Dated: Dated:
ATTEST:
Monika Radeva, City Clerk
City of La Quinta, California
APPROVED AS TO FORM:
William H. Ihrke, City Attorney
City of La Quinta, California
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