Annual Plan FY 2010-2011 SilverRock Resort���f lwQ�rw
COUNCIL/RDA MEETING DATE: April 20, 2010
ITEM TITLE: Consideration of the SilverRock Resort
2010-2011 Annual Plan and Adoption of a Resolution
Increasing the Resident Card Fee
RECOMMENDATION:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
Approve the 2010-2011 Annual Plan as submitted by Landmark Golf Management,
LLC which projects operating expenses of $3,304,637 and revenues of $3,384,936
for a net operating income of $80,299 plus additional expenses of $100,007 for the
Bob Hope Classic Tournament for a net loss of $19,708; and adopt a Resolution
amending Resolution No. 2004-137 relating to Golf Course Rate Schedule, increasing
the Resident Card fee to $50 per year to reduce the subsidy of the golf course
operating costs.
FISCAL IMPLICATIONS:
Annual Plan
The 2010-201 1 Annual Plan (Attachment 1) as drafted for SilverRock Resort projects
operating expenses of $3,304,637 and revenues of $3,384,936 for a net operating
income of $80,299. As a component of the Annual Plan, the operator is
recommending supplemental 2011 Bob Hope Classic Tournament expenses (personnel,
materials, and equipment) in the amount of $100,007. If approved, there will be a
deficit of $19,708.
In addition to the Landmark Golf Management, LLC operating revenues and
expenditures mentioned above there are additional City revenues and expenditures that
are included in the total SilverRock Resort Golf Course Budget, which will be presented
to the City Council in June during the Preliminary Fiscal Year 2010-201 1 Budget.
Staff is finalizing these City Fiscal Year 2010-2011 revenue and expenditure
projections which presently budget an additional $30,000 (2,000 X $15) in revenues
for SilverRock Resort Resident Cards and $256,085 in expenditures for such things as
staff salary and fringe benefits ($60,000), Bob Hope Classic Annual Fee and Parking
costs ($130,000), maintenance & building repair ($30,000) credit card charges,
($32,000) and other expenses ($4,085).
e., 239
39
With these additional revenues and expenditures the projected deficit for Fiscal Year
2010-2011 is projected to be $245,793.
As a result of the Food and Beverage License Agreement between the City and
Landmark Golf Management, LLC, the food and beverage revenue and expenses are
not recognized in the 2010-2011 Annual Plan. Instead, food and beverage revenues
and expenses, which are equal, will be accounted for through the Food and Beverage
License Agreement.
Factored into the green fee budget was the fact that the golf course will be closed for
a total of seven (7) days for the 2011 Bob Hope Classic. The loss of seven days of
green fees has an estimated loss of $150,000 in revenue and 1,500 rounds of golf.
Any additional days of course closure for the Bob Hope Classic or for inclement
weather would result in further impacts to the revenue budget.
Resident Cards
City Council directed staff look at ways to reduce the subsidy at the SilverRock Resort
Golf Course. Staff would like the City Council to consider increasing the SilverRock
resident card fee to $50 per year per Resident Card. Based on the current number of
active resident card holders, in three years, this will increase revenues for the golf
course operation by as much as $300,000 annually (Attachment 2). These changes
will not affect the current Resident Card expiration dates.
CHARTER CITY IMPLICATIONS:
None.
BACKGROUND AND OVERVIEW:
The City entered into a Golf Course Management Agreement with Landmark Golf
Management, LLC (Operator) in April 2004. Section 3.2.1 of the Agreement provides
that the Operator shall submit an Annual Plan to the City Manager, including a
projected operating budget, for the upcoming fiscal year.
The Annual Plan for Fiscal Year 2009-2010 was $3,606,598 for operating expenses
and projected revenues of $3,254,563 for an operating deficit of $352,035.
The major improvement in the operating deficit for Fiscal Year 2010-201 1 versus the
prior year is the reduced lease payments for equipment that was purchased in Fiscal
Year 2009-2010 and the increased green fee projections.
Summary of the Fiscal Year 2010-2011 Landmark Golf LLC Annual Plan
Assumptions used in this plan include:
42,080 rounds of play for Fiscal Year 2010-201 1;
No rate changes are recommended;
240
• An average projected revenue of $84.02 per round;
• A 2% capital reserve ($62,229) for future golf course
improvements/renovations, per the Management Agreement (section 3.10.1);
• Maintenance of the SilverRock entry landscape for $52,280 funded from the
Lighting and Landscape District;
• No Capital Expenses are being requested this year.
Bob Hope Classic Tournament
The golf course operator recommends a proposed amount of $100,007 in
supplemental expenses for the 2011 Bob Hope Classic as follows:
1. Personnel Costs = $19,007. The additional personnel costs will cover the
overtime expenses that will be required to prepare the course for the
tournament as well as having the golf course being open to the public through
the opening day of the event.
2. Supplies and Materials = $79,000. This amount will cover any unforeseen
incidents, such as acts of nature, which may require bunker sand replacement,
tree replacement, seed and sod for the turf, and plants for replacement or
enhancement purposes.
3. Equipment = $2,000. This amount will cover equipment rental for pumps,
generators, and any other equipment they may be necessary for the event.
Marketing
The Marketing Narrative is on pages 21 and 22 of the proposed 2010-201 1 Annual
Plan with the Marketing Budget listed on page 16. Direct advertising and creating
awareness for SilverRock Resort is budgeted for $262,644. The Arnold Palmer Classic
Course is being promoted as a premier golf destination in the Coachella Valley through
newspapers, magazines, directories, the internet, television, and radio.
Resident Cards
On November 16, 2004, City Council adopted Resolution No. 2004-137 establishing a
resident rate of $55, $45, and $30; and residency to be determined by La Quinta
address identification (California Department of Motor Vehicles Drivers License or a
California Department of Motor Vehicles Identification Card or a property tax bill and a
current utility bill).
On November 1, 2005, City Council amended the term for the Resident Cards from
one year to three years while retaining the $15 resident card fee.
«... 241
There are approximately 6,700 active resident cards currently. Staff recommends a
$50 yearly fee for each SilverRock Resident Card to help reduce the SilverRock
subsidy. Staff has also been approached by the Chamber of Commerce to partner with
them on a "value added" Resident Card. Staff is concerned that sharing the revenues
from the Resident Card with the Chamber would reduce the City's ability to reduce the
subsidy.
Should the City Council approve the increase to the Resident Card Fee, Landmark Golf
Management (through the Management Agreement) recommends adding the following
benefits for Resident cardholders: 15% off all pro shop items, 15% off at the
clubhouse restaurant, and increasing the Resident Guest discount to 30% off the
posted rates (currently 20%).
FINDINGS AND ALTERNATIVES:
The alternatives available to the City Council include:
1. Approve the 2010-2011 Annual Plan as submitted by Landmark Golf
Management, LLC which projects operating expenses of $3,304,637 and
revenues of $3,384,936 for a net operating income of $80,299 plus additional
expenses of $100,007 for the Bob Hope Classic Tournament for a net loss of
$19,708; and adopt a Resolution amending Resolution No. 2004-137 relating to
Golf Course Rate Schedule, increasing the Resident Card fee to $50 per year to
reduce the subsidy of the golf course operating costs; or
2. Do not Approve the 2010-2011 Annual Plan as submitted by Landmark Golf
Management, LLC which projects operating expenses of $3,304,637 and
revenues of $3,384,936 for a net operating income of $80,299 plus additional
expenses of $100,007 for the Bob Hope Classic Tournament for a net loss of
$19,708; and do not adopt a Resolution amending Resolution No. 2004-137
relating to Golf Course Rate Schedule, increasing the Resident Card fee to $50
per year to reduce the subsidy of the golf course operating costs; or
3. Approve the Annual Plan with modifications and amend Resolution No. 2004-
137 regarding Resident Cards.
Respectf Ily submitted,
Edie Hylton
Community Ser ices Director
242
Approved for submission by:
Thomas P. Genovese, City Manager
Attachments: 1. 2010-2011 Annual Plan
2. 2010-2011 Resident Card Revenue
10*14110111 W ki 10 16111111kJolli tol
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
LA QUINTA, CALIFORNIA, AMENDING RESOLUTION NO.
2004-137 RELATING TO GOLF COURSE RATE
SCHEDULE
WHEREAS, rates and policies were adopted by the City Council in Resolution
No. 2004-137 on November 16, 2004.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
La Quinta, California, as follows:
1. Approves the following change to the golf course rate schedule for the
Arnold Palmer Classic Course at SilverRock Resort:
Resident Golf Card Fee = $50 per year
PASSED, APPROVED, and ADOPTED at a regular meeting of the La Quinta
City Council held on this 20' day of April, 2010, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
DON ADOLPH, Mayor
City of La Quinta, California
"... 1 244
Resolution No. 2010-
Amended SilverRock Resort Rates
Adopted: April 20, 2010
Page 2
ATTEST:
VERONICA J. MONTECINO, CMC, City Clerk
City of La Quinta, California
(SEAL)
APPROVED AS TO FORM:
M. KATHERINE JENSON, City Attorney
City of La Quinta, California
�_ 2 4 s;
ATTACHMENT 1
S I LVCK Koo< TM
R , 3 0 n T
SilverRock Resort -Arnold Palmer Classic Course
2010-2011 ANNUAL PLAN
Prepared For:
City of La Quinta
SilverRock Resort
Prepared By:
Landmark Golf Management
Submitted:
March 31, 2010
I... " 246
SILVERROCK RESORT
Annual Plan
Fiscal Year 2010-2011
Table of Contents
Part I -Project Overview
Project Fact Sheet 1
Mission Statement 2
Philosophy Statement 3
Organizational Chart 4
Key Employee Staffing and Salaries 5
Part II -Assumptions
2010-2011 Assumptions 6,7
Part III -Operational Financial Projections
2010-2011 Consolidated Income Statement 8
Part IV -Department Detail
Golf Rounds and Revenue
9
Carts, Bagroom & Range
10
Golf Shop / Merchandise
11
Course Services
12
Golf Course Maintenance
13,14
General & Administrative
15
Marketing
16
Clubhouse
17
Miscellaneous
18
Part V-Food and Beverage
Department Detail 19,20
Part VI -Other
Marketing Narrative Plan
21,22
2010-201 1 Golf Rates
23
Bob Hope Assumptions
24
Bob Hope Supplemental Budget
25
Front Entry Maintenance Budget
26
247
Sii_vcRROCK-
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
WWW.SILVERROCK.ORG
MANAGEMENT
Randy Duncan, PGA, Director of Golf / General Manager
Willie Lopez, Golf Course Superintendent
COURSE YARDAGE
SILVER 7,578 PAR 72
GOLD 7,146 PAR 72
BLUE 6,658 PAR 72
WHITE 5,984 PAR 72
GREEN 5,320 PAR 72
RED 4,884 PAR 72
GRASS TYPES
GREENS: TIF DWARF
FAIRWAY / TEES: TIF SPORT
ROUGHS: TIF SPORT
OWNER
CITY OF LA QUINTA
MANAGED BY
LANDMARK GOLF MANAGEMENT, LLC
74-947 HIGHWAY 111, SUITE 200
INDIAN WELLS, CA 92210
PHONE: (760) 776-6688
DATE OPENED
February 14, 2005
.. 1 2 V1
1
SILVERROCK RESORT
Annual Plan
Fiscal Year 2010-2011
Mission Statement
"TO BE THE BEST"
"TO HAVE THE BEST GOLF FACILITIES"
"TO HAVE THE BEST GOLF COURSE CONDITIONS"
"TO PROVIDE THE BEST SERVICE"
SilverRock Resort is dedicated to providing the finest public golf
experience. All Staff Members of the facility play an important role
in our Mission. Staff is supported through training and resources to
ensure success. SilverRock Resort aspires to represent ownership and
management with the highest standard of service in the Golf/Resort
Industry and produce superior golf course conditions to meet and
exceed the goals.
Goals and Objectives: To support our Mission Statement and to
achieve the projected Annual Plan; SilverRock Resort will pursue the
following goals and objectives:
• To hire and train staff members that will provide a high standard
of guest services and maintain the highest level of course
conditions
• To maintain and pursue an aggressive Marketing Plan that
benefits/acknowledges the La Quinta Residents, local residents,
avid tourist golfers and golfing public
• To present a facility and golf course conditions that qualifies to
host the Bob Hope Classic with a continuing strong commitment
to be in the rotation of golf clubs
• To have each Department operate within their annual budget
allowing SilverRock Resort to reach the net operating goals
SILVERROCK RESORT
Annual Plan
Fiscal Year 2010-2011
PHILOSOPHY STATEMENT
After five (5) and a half years of operations, an Annual Plan
accommodated the operational start-up through and including
grow -in, final construction of the Arnold Palmer Classic Course, a
notable Grand Opening Celebration and SilverRock's third
successful year in the Bob Hope Classic. As the 2010-2011 Annual
Plan is implemented, focus will continue to be on broadening the
awareness, marketability and noteworthiness of SilverRock Resort's
Arnold Palmer Classic Course, golf facilities and amenities. Also a
strong emphasis will continue to be placed on SilverRock's
participation in future Bob Hope Classic Tournaments which
SilverRock is contracted to be part of for the next seven (7) years.
The philosophy that Landmark Golf Management perpetuates at
SilverRock Resort is: an operation that allows management to utilize
golf industry best -practices in accommodating market -driven
demands as market shifts may occur. Each golf course facility has
its own personality and characteristics; therefore, each golf
operation is unique to some degree and should be managed with
personality and characteristics taken into consideration. Golf
operators that adjust procedures to short and long term market and
industry fluctuations are better suited to maximize opportunities.
In this upcoming sixth complete twelve (12) months of operations,
Landmark Golf Management will put forth every effort to better
position SilverRock Resort as a place to frequent in the eyes and
minds of the influential decision makers in the world of golf.
BRAND PROMISE
Discover the mystique of SilverRock Resort, the crown
jewel of La Quinta and its golf legacy. Rich in both
history and legend, the majestic Santa Rosa Mountains
frame an unwavering commitment to an exceptional
experience at SilverRock Resort.
Our Promise: Exceptional in All, For All, Always. 2 5 0
3
Golf Shop
Head Golf Professional L
Asst. Golf Professionals
Golf Shop Buyer
Sales Associates
Guest / Outside Service
Outside Services Manager
:arts/Bao Room Starters P.A.
IV
CPS
F6
Golf
Asst. Superintendent
Mechanic(s)
Irrigation Technician
Spray Technician
Greenskeeper(s)
Administrative Asst.
SilverRock Resort
2010-2011 Annual Plan
ORGANIZATIONAL CHART
City of La Quints
City Council &Staff
Community Services
Director
Landmark Golf Management
Management Team
SilverRock Resort Golf Club
General Mgr, I Director of GOV
Accounting
Controller / Human Resources
1 Admin. Asst.
To Controller & GM
Food &
F&B
Restaurant
F&B Servants) / Cart Attendent(s)
Marketing &:
Tournament Sales
4
Key Employee Staffin
Ma 011 cl v.11.4.
eR[CInoBB, Landma GOV Management
2010-2011 ANNUAL PLAN
DEPARTMENT SUMMARY
JUL
AUG.
SEP.
OCT.
NOV.
DEC.
I JAN.
I FEB.
I MAR.
I APR
I MAY
JUN.
GOLFOPERATION OUTSIDE SERVICES
OUTSIDE SERVICES MANAGER(FULLTIME)
1
1
1
1
1
1
1
1
1
1
1
1
OUTSIDE SERVICES SUPERVISORS (FULL-TIME)
1
1
1
1
1
1
1
1
1
1
1
1
DRIVING RANGE (PART-TIME)
1
1
1
1
1
1
2
2
2
2
1
1
OARTISAGNALETISAG DROP (FULL-TIME)
4
4
4
4
4
4
4
4
4
4
4
4
CARTIBAGNALETIBAG DROP (PART-TIME)
0
0
0
2
2
2
2
2
2
2
1
1
SHUTTLE DRIVER (PART-TIME)
0
0
0
0
3
2
2
2
2
2
0
0
]
]
T
9
11
11
12
12
12
12
6
S
PRO SHOP
HEAD GOLF PROFESSIONAL (FULLTIME)
1
1
1
1
1
1
1
1
1
1
1
1
1ST ASSISTANT PROFESSIONAL (FULLTIME)
1
1
1
1
1
1
1
1
1
1
1
1
MERCHANDISER (FULLTIME)
1
1
1
1
1
1
1
1
1
1
1
1
ASSISTANT PROFESSIONAL (FULLTIME)
2
2
2
2
2
2
2
2
2
2
2
2
SALESCLERKS (FULL TIME)
1
1
1
2
2
2
2
2
2
2
2
2
SALES CLERKS (PART TIME)
0
0
1
1
1
1
1
1
1
1
1
0
6
6
]
3
S
e
8
3
6
8
S
]
COURSE SERVICES
STARTERS (PART TIME)
3
3
3
3
3
3
3
3
3
3
3
3
RANGERIMARSHALS(PART TIME)
0
0
0
0
2
4
4
4
4
3
0
0
3
3
3
3
5
i
T
T
]
6
3
3
GOLF COURSEMAINTENANCE
SUPERINTENDENT (FULLTIME)
1
1
1
1
1
1
1
1
1
1
1
1
ASST SUPERINTENDENT (FULLTIME)
1
1
1
1
1
1
1
1
1
1
1
1
FOREMAN/SPRAY TECHNICIAN (FULLTIME)
1
1
1
1
1
1
1
1
1
1
1
1
HEAD MECHANIC I FACILITY MANAGER (FULLTIME)
1
1
1
1
1
1
1
1
1
1
1
1
ASST MECHANIC (FULLTIME)
1
1
1
1
1
1
1
1
1
1
1
1
HEAD IRRIGATOR (FULLTIME)
1
1
1
1
1
1
1
1
1
1
1
1
ASST IRRIGATOR (FULLTIME)
1
1
1
1
1
1
1
1
1
1
1
1
GREENKEEPERS (FULLTIME)
17
17
17
17
17
17
17
11
17
17
i]
17
ADMINISTRATIVE ASSISTANT (FULLTIME)
1
1
1
1
1
1
1
1
1
1
1
1
TOTAL TURF BADMIN STAFF
25
25
25
25
25
25
25
25
25
25
25
25
FOREMAN (FULLTIME) 1 1 1 1 1 1 1 1 1 1 1 1
IRRIGATOR (FULLTIME) 1 1 1 1 1 1 1 1 1 1 1 1
LANDSCAPERS (FULLTIME) 5 5 5 5 5 5 5 5 5 5 5 5
TOTAL LANDSCAPE CREW ] ] ] ] i ] ] ] ] i i i
TOTAL COURSE MAINTENANCE STAFF 32 32 32 32 32 32 32 32 32 32 32 32
FOOD 6 BEVERAGE
F S B MANAGER I SUPERVISOR (FULLTIME)
CHEF (FULLTIME)
COOK (FULLTIME)
PREP COOK (FULL TIME)
LEAD SERVER (FULL-TIME)
F S B WAITISEVERAGE CARTIHALF(FULL TIME)
F S B WAITISEVERAGE CARTIHALF(PART TIME)
BUSER I DISHWASHER (PART TIME)
GSA
DIRECTOR OF GOLFIGM (FULLTIME)
CLUBCONTROLLER (FULLTIME)
ADMINISTRATIVE ASSISTANT (FULLTIME)
MARmnmG?OURNAMENT
TOURNAMENT SALES I GROUP COORDINATOR (FULLTIME)
TOTAL EMPLOYEES
N
US
v
i
1
1
1
1
1
1
1
1
1
1
i
1
1
1
1
1
1
1
1
1
1
1
1
i
1
1
1
1
1
1
1
1
1
1
i
1
1
1
1
1
1
1
1
1
1
1
i
1
1
1
1
1
1
1
1
1
1
1
i
1
1
1
1
1
1
1
1
1
1
1
2
2
2
3
3
3
3
3
3
3
3
2 2
1
1
1
1
1
1
1
1
1
1
1
1
9
9
9
10
10
10
10
10
10
10
10
8
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
] 3 3 3 3 J I I 3 3 3 J
SILVERROCK RESORT
2010-2011 ANNUAL PLAN
2010-2011 Assumptions
Revenue
Green Fees: A green fee includes golf cart and warm-up range balls. A combination of
the various green fee rates and green fee mix of Regular, Twilight, and Resident play is
anticipated to yield an average rate of $73.94 per round on an annualized basis. The
Green fee rates for 2010-2011 are projected to remain consistent with the prior year's
rates due to economic and competitive concerns.
It is assumed in this Annual Plan that Resident's Guests will continue to be offered a
discount as accompanied guests of La Quinta Resident card holders. The Resident Guest
rate represents a 20% discount on the prevailing posted rates and follows similar booking
procedures as extended to a La Quinta Resident card holder; booking three (3) days in
advance.
It is assumed that the golf course will be closed to public play during the Bob Hope
Classic from January 16-22, 2011. It is also assumed the overseeding dates will be
October 4 through November 2, 2010; over seeding reduces revenues, which is taken into
consideration in these projections, due to the course being closed during these dates. It
is also projected that aerification will occur in August of 2010 and June of 2011 which
reduces revenue for 3-5 days with each of these two (2) aerification cycles.
Greens Fee Mix: Through proper marketing, yield management, and limited advanced
Resident bookings the projected mix of green fees is: 30% Resident, 25% Public, 10%
Public Twilight, & 35% Other (tournaments, wholesalers, juniors, resident guests, replays
and discounts).
Miscellaneous and Other Revenue: Based on $2.80 per round. This consists of golf club
rentals, golf club repairs, handicap fees, driving range fees, rider fees, 15 % of golf lessons
and Independent Contractor's Fees (Teaching Professionals).
Golf Shop Merchandise: Based on retail sales of $7.28 per round.
Cost of Goods Sold
Merchandise 53
Food & Beverage 33 %
nses
Golf Carts, Bag Room, and Driving Range: Includes outside service, valet, bag room, and
driving range staff plus supplies and operating expense for this department. There are no
projected employee raises for this department in the 2010-2011 Annual Plan.
Golf Shop Merchandise: Includes golf professionals, merchandising sales staff, receiving
staff and golf shop operational expenses. There are no projected employee raises for
this department in the 2010-2011 Annual Plan.
SILVERROCK RESORT
2010-2011 ANNUAL PLAN
Course Services: Includes course service staff consisting of course rangers/starters and
related department supplies and materials. There are no projected employee raises for
this department in the 2010-2011 Annual Plan.
Golf Course Maintenance: Includes grounds maintenance staff, supplies, and materials.
Over seeding dates are projected to be October 4 through November 2, 2010, which
results in projected higher labor cost and supply costs during the annual overseeding
process. There will be areas on the golf course that will not be over -seeded in attempt to
reduce seed cost and conserve water. There are no projected employee raises for this
department in the 2010-2011 Annual Plan.
Bob Hope Classic: It is assumed that SilverRock Resort will host the 2011 Bob Hope Classic.
An Assumption sheet and a Supplemental Budget (not part of the Operations Budget,
attached hereto as pages 25 & 26) provide the extra maintenance expenses required to
prepare the facility.
Front Entry Maintenance: A Supplemental Budget (not part of the Operations Budget,
attached hereto as page 27) provides the maintenance schedule and expenses for the
front entry area that encompasses the entrance at SilverRock Way south of Ave. 52.
Water & Electrical: This includes water and electrical cost to irrigate the golf course and
properly maintain the lake system. This is accounted for in the Golf Course Maintenance
budget.
Food & Beverage: Includes food & beverage staff and expenses for the temporary
clubhouse. There is a separate Agreement for the Food & Beverage Department
including the Liquor License arrangement between the City and Landmark Golf
Management. There are no projected employee raises for this department in the 2010-
2011 Annual Plan.
Marketing: Includes marketing, public relations, advertising, web page, collateral and
tournament sales, etc.
Clubhouse: Includes clubhouse expenses, maintenance/cleaning staff, landscape
maintenance, parking lot and entry drive clean up. Roving patrol expenses used to
secure the entire property of SilverRock is included in the Operations Budget.
Management Fee: The monthly Management Fee of $7,500 per the Golf Course
Management Agreement is budgeted for the 2010-2011 fiscal year.
Insurance: Per requirements of the Golf Course Management Agreement in the Annual
Plan is the cost for comprehensive golf club insurance policy, general liability, property,
equipment and business interruption etc.
Personal Property Lease Tax: Exempt, except personal property taxes on equipment
purchases or leases which are included in this Annual Plan.
Golf Carts Lease: Golf carts are being leased for the Golf Club and are scheduled to be
replaced in the fall of 2010. Golf Course Maintenance Equipment was recently acquired
in the fall of 2009.
254
2010-2011 ANNUAL PLAN S4veMock Renort
DONSOIJDATED INCOME STATEMENT .. e.,..
FOR FlSCAL YEAR -DULY 2002 -JUNE 2010 ........... �.�..en.�,...
DEPARTMENT
JUL,
AUG.
SEP.
OCT,
NOV.
DEC.
JAN.
FEB.
MAR.
APR.
MAY
JUN.
ROUND
ROUND$
41,724
2,600
2,375
3,550
400
4,500
3600
2,70E
4,900
5.900
5.105
4,000
2,450
TOTALROUNDS
41,724
2,600
2,375
3,550
400
4,500
3,600
2,700
4,900
6,900
5,105
4,000
2,450
REVENUE
GREEN FEES
3,078,642
3,11" 96,915
90.161
167,471
23,905
350,831
268.875
236.925
469,175
548.995
432,266
271650
154.289
MISC. REVIRANGEICARTSMENTALS
120,000�
14C 9.254
4.919
6,858
3660
12,925
11.440
9,955
17.240
19,840
10,923
6,600
4,043
GOLF SHOP MERCHANDISE
299,000.
9,100
9.144
16,863
2,080
30,825
215020
3],800
49,000
45,725
37,011
28,000
15,925
FOOD& BEVERAGE CONCESSIONS
1;000
500
500
500
1,500
1500
1,500
1,50E 1
1,500
1,500
500
500
Soo
TOTAL REVENUE
3,509,642
60 115,769
104,723
191,691
31,145
396,081
306,835
286,180
636,915
11
480,700
306,760
174,756
COSTOFSALES
PROSHOP
172,786
i. 4,830
4,853
8,950
1.104
16360
13,279
20,062
26.007
24,269
19,644
14,861
8452
TOTAL COST OF SALES
172,786
4,830
4,851
8,950
1,104
16,360
13,279
20,062
26,007
24,269
19,644
14,861
8,452
GROSS PROFIT
3,336,856
110,939
99,870
182,741
30,041
379,721
293,556
266,119
610,908
691,791
461,057
291,889
166,304
OPERATING EXPENSES
GOLF CARTSIBAG&RANGE
225,460
` 13,3N
12441
14,245
24,087
28219
18,589
20,826
20,826
20,501
20001
16.575
26,665
GOLF SHOP MERCHANDISE
227,600
&' 1],4]4
16,374
11,104
14,487
20.n6
20,326
21,766
20,530
20,530
19,470
22.623
18,605
COURSE SERVICES
59,100
4,303
3,657
5,989
2,959
5.471
7,398
7,354
7,303
7,303
5,946
2,758
2,758
GOLF COURSE MAINTENANCE
1,539034
1 118457
122.802
141007
255,808
120427
108,042
118,144
112,539
108.841
113228
109,513
112,856
WATER & ELECTRIC COST
73,732
9,460
10.000
10.160
6,960
6255
5,325
4,860
5,473
5,550
5,550
6,255
9,510
GENERAL&ADMINISTRATP/E
296,500
3 25,463
25,613
25,913
25,838
25,838
28,113
26,113
26,513
26663
26063
26.813
26,463
MARKETING
250,000
12352
14,742
31422
21.1]]
26.317
25,867
32,237
31217
22,867
21,017
12,]1]
10,717
CLUBHOUSE
127,407
10636
10,636
10636
11,736
10,636
10,636
13,236
10,636
11.136
10636
10,636
11,036
MANAGEMENT Flmllp wraevm -)
90000
21.652
21,310
10.026
19,052
(?698)
8,115
6,147
(3,896)
(10,827)
(2634)
6,040
17,713
CAPITAL RESERVES
59,610
1.938
1,803
3,349
478
],01]
5.378
4,739
9,3M
10,950
8,645
5,433
3.086
INSURANCE
42,000
2.200
2,200
2.200
2,200
2,200
2,2M
2,200
2,200
2,200
220D
2,200
2,200
PERSONAL PROPERTY LEASE TAXES
20,000
13,570
D
0
0
0
0
0
0
0
0
0
0
LEASES(Cart &Maint)
357.204
20,817
20,817
20,817
20,817
22236
22,236
20.000
20,000
20.000
20,000
20000
20,000
TOTAL OPERATING EXPENSES
3,366,537
271626
262,396
293467
405,599
270,243
262224
277,620
252725
245.144
250121
241864
261,608
NETINCOME
(29.681)
0 16068])
(162,525)
110.]25)
(375,558)
109,478
31332
(11,503
248,184
US 648
210,935
50025
95,304)
NET INCOME%
4.6%
k%-138.8%
-155.2%
47.8%
-1206.8%
2T.6%
10.2%
4.0%
46.2%
56.3%
43.9%
16.3%
44.5%
Avenge Green Fee
$73.79
$37.28
$37,96
$47.18
$5936
$]].96
E]4.69
$8]75
$95.75
$93.05
$84.68
$61.91
$62.98
Avenge$ Misc. Income Per Rd
$2.88
$3.56
$2.07
$1.93
$9,15
E2.8]
E3.18
$369
$3.52
$3.36
$2.14
$1.65
$1.65
Average $ Merchandise per Rd
$1.17
$3.50
$3.85
$475
$5.20
SG.BS
$6.95
$14.00
$10.00
$]75
$7.25
$7,00
$6.50
Totd Average Revenue Per Round
$83.83
.,. $44.53
$4A.09
$54.00
$71.85
$88.02
$86R3
$10S.99
$109.57
N04.42
$94.16
$76.69
$71.33
N
Cn
Lr;
2010-2011 ANNUAL
PLAN
$ilverRock Resort
RUN DATE:
31-Mar-le 02:11 PM
Proectiona-Jul 2010to June2011
PREPAREDRY:
Lsodmark Golf Managemtnt
N
CSS
Resident Rnds(Weekday)
5,681
351
321
479
54
608
486
365
662
797
689
Mo
331
Resident Bids (Weekend)
6943
429
392
586
66
743
5%
446
809
974
842
660
404
Sub -Total Resident Rods
12,624
780
713
1065
120
1350
1080
810
1470
170
1532
12M
735
.F a{Tmal
0,30
Public Birds (Weekday)
4,734
293
267
3"
45
506
405
304
551
6"
574
450
276
Public Rnds(Weekend)
5,786
358
327
488
55
619
495
371
674
sit
702
550
337
Sub -Total Public Bads
10,520
650
594
888
100
1125
"a
675
1225
1475
1276
1000
613
m effatal
025
Public Twi(Weekdav)
1,694
117
107
160
18
203
162
rl 8
221
266
230
180
Ila
Public TWl(Weekend)
2,314
143
131
195
22
248
198
149
270
325
281
220
135
Sub -Total
Twilight Reds
4,208
260
238
355
40
450
360
270
490
590
511
140
245
9= of meal
2'10
Other (Weekday)
6,628
410
374
559
63
709
567
425
7l2
929
804
630
M6
Other(Weekend)
8,100
501
457
683
77
866
693
520
W3
1136
983
770
472
Tournaments
2,946
182
166
249
M
315
252
189
M3
413
357
280
172
IMrolesale,
2,940
192
166
249
28
315
252
189
343
413
357
280
172
Resident Guest
1,473
91
83
124
14
158
126
95
172
207
179
140
86
Stand By Golf
1,473
91
83
124
14
158
126
95
172
207
in
140
86
Discounts
3,682
228
208
311
35
394
315
236
429
516
447
350
214
PGA
736
46
42
62
7
79
63
47
86
103
89
70
43
)rnior
736
46
42
62
7
79
63
47
86
10.1
89
70
43
Replay
736
46
42
62
7
79
63
47
86
103
89
70
43
Sol, Total ON¢r
14,728
910
831
1243
140
1575
1260
945
1715
M65
1787
1400
858
1, of I real
0.35
Total Rounds
42,080
2600
D75
3550
400
4500
3600
2700
4M
5900
5105
4000
24M
Green Fees
Resident knits (Weekday)
$
30.00 $
30.00 $
30.00
$ 30.00 $
45.00 $
45,00 $
55,00 $
55.00 $
55.00 $
55.00 $
45.00 $
45.00
Resident Rnds(Weekend)
$
30.00 $
30.00 $
30.00
$ 3000 $
45.00 $
45.00 $
55.00 $
5500 $
55.00 $
55.00 $
4500 $
45.00
Public Rnds(Weekdav)
$
40.00 $
40.00 $
55.00
$ 85.00 $
10500 $
100.00 $
125.00 $
150.00 $
135.00 $
13500 $
90.00 $
80.00
Public Rod,(Weekend)
$
40,00 $
45.00 $
65.00
$ 10500 $
110.00 $
105.00 $
125.00 $
15000 $
15000 $
135.00 $
95.00 $
80.00
Public' I', i(Weekday)
$
40.00 $
40.00 $
50.00
$ 60.00 $
75.00 $
75.00 $
85.00 $
85.00 $
$0.00 $
80.00 $
60.00 $
60.00
Public Twi(Weekend)
$
45.00 $
45.00 $
60,00
$ 70.00 $
80.00 $
75.00 $
85.00 $
85.00 $
85.00 $
80.00 $
70.00 $
70.00
Other (Weekday)
$
40,00 $
40.00 $
50.00
$ 55,00 S
85,00 $
8000 $
9000 $
95.00 8
Who $
70.00 $
65.00 $
60.00
Other (Weekend)
$
40.00 $
40.00 $
5000
$ 60.00 $
85,00 $
80.00 $
90.00 $
95,00 $
95.00 $
80.00 $
75.00 $
70.00
Goff Revenue
Resident Rods (Weekday)
262,680
$
10,530 $
9,619 $
14,378
$ 1,620 $
27,338 $
21,870 $
20,048 $
36,M3 $
43,808 $
37,905 $
24,300 $
14,884
Resident Birds (Weekend)
321,053
$
12.870 $
11,756 $
17,573
$ 1,980 $
33,413 $
26,730 $
24,503 $
44,468 S
53,543 $
46,3M $
29,700 $
18,191
Public Rod,(Weekday)
492,179
$
11,700 $
10,698 $
21,966
$ 3,825 $
53,156 $
40,500 $
37,969 $
82688 $
89,606 $
77,532 $
40,500 $
22,050
Public Birds (Weekend)
629,654
$
14,300 $
14,695 $
31,728
$ 5,775 $
68,063 $
51,975 $
46,406 $
101,063 $
121,688 $
94,762 $
52250 $
26,950
Public Twi(Weekday)
131,463
$
4,680 $
4,275 $
7,988
$ 1,080 $
15,188 $
12,150 $
10,328 $
18,743 $
21,240 $
18,378 $
10,800 $
6,615
Public Twi(Weekend)
170,625
$
6,435 $
5,878 $
11,715
$ 1,540 $
19,800 $
14,850 $
12,623 $
22,908 $
27,583 $
M,462 $
15,400 $
9,433
Other(Weekda))
483,974
$
16,380 $
14,963 $
D,956
$ 3,465 $
60,244 $
45,360 $
38,273 $
73,316 $
83,633 $
56,283 $
40,950 $
23,153
Other (Weekend)
619,831
$
20,020 $
18,288 $
M,169
$ 4,620 $
73,631 $
55440 $
46,778 $
$9,609 $
107,896 $
78,617 $
57,750 $
33,014
Total Reoernre
3,111,458
5
96,9E $
90,161 5
167,471
5 23,905 $
350,831 5
266,875 $
236,925 5
09,175 $
54$995 5
432,266 $
271,650 $
154289
Aag. Rate
73.943$
37.28 $
37.96 $
47.18
$ 59.76 $
77.96 $
74.69 $
87.75 $
95.75 $
93.05 $
84.68 $
67.91 $
6198
_,$
Mise Revenue
Club Rental(BAB per round)
28,004
$
1.430 $
1,3M $
1.953
$ 220 $
2,475 $
1980 $
1,485 $
4.900 $
5.900 $
2,808 $
2,200 $
1, 348
Driving Range Balls ($1.00 per round)
48,130
$
3,250 $
2,375 $
3,550
$ 400 $
4,500 $
3,600 $
2,700 $
7,350 $
8.850 $
5.105 $
4.000 $
2,450
Rider Fees
6,522
$
2,574 $
238 $
355
$ 40 $
450 $
360 $
270 $
490 $
590 $
. 511 $
400 $
245
Independent Instructor Fees
19,000
$
- $
- $
-
$ - $
3,500 $
3,500 $
3,500 $
3,500 $
3,500 $
1,500 $
- $
-
Bell Retreival
4,000
$
1,000 $
-
$ 1.000
$
1,000
$
1,000 $
. $
-
GPSAdvertisinglncome
12,000
$
1000 $
1,000 $
1,000
$ 2,000 $
2000,$
2,000 $
1.000 $
1,000 $
1,000
Total
117,656
$
9,254 $
4,919 $
6,858
$ 3,660 $
12,925 $
11440 $
9,955 $
17,240 $
19,840 $
10,923 $
6,600 $
4,043
9
21 ANNUAL PLAN
SilverRock Resort RUN DATE: 31-M-1. 02:II PM
Projections- Jul 2010 [o June 2011 PREPA D9Y: undm.rkGRMtru,i m
GOLF SHOP MERCHANDISE -61
TOTAL
JUL. I
AUG. I
SEP. I
OCT. I
NOV. I
DEC. I
JAN. I
FEB. I
MAR. I
APR. I
MAY 7FJUN.
GOLF SHOP MERCHANDISE SALES
TOTAL #OF ROUNDS
42,060
2,600
2,375
3,550
400
4.600
3,600
2,700
4,900
5,900
5,105
4,000
2.450
AVERAGE REVENUE/ROUND
$7.28
$3.60
$3.85
$4.75
$5.20
$6.85
S6.95
$14,00
$10.00
$7.75
$7.25
$7.00
$6.50
TOTAL MERCHANDISE SALES
S306,493
9,100
9,144
16,663
2,060
30,825
25,020
37,800
49,000
45,725
37.011
28,000
15,925
Soft Goods Sales
199,220
5,915
5,943
10,961
1.352
20,036
16.263
24,570
31.850
29,721
24,057
18,200
10,351
Hard Goods Sales
107,272
3,185
3,200
5,902
728
10,789
8,757
13,230
17,150
16,004
12,954
9,800
5,574
TOTAL MERCHANDISE REVENUE -
306,493
9,100
9,144
16,863
2,080
30,825
26,020
37,800
49,000
45,725
37,011
28,000
15,925
COSTOESALES
53.08%
0.08%
53.08%
53.08%
53.08%
53.08%
53.08%
53.08%
53.08%
53,011%
53.08%
53.08%
53.08%
COS - Merchandise (58%)
168,571
5,005
5,029
9,274
1, 144
16,954
13,761
20,790
26,950
25,149
20.356
15,400
8,759
Purchase Disc Taken-(5%)
(8,429)
(250)
(251)
(46,1)
(57)
(US)
(688)
(1,040)
(1,34a)
(1,257)
(1,018)
(770)
(438)
Freight -Merchandise
2,529
75
75
139
17
254
205
312
404
377
305
231
131
TOTAL COST OF SALES
162,671
4,830
4,853
8,950
1,104
16,360
13,279
20,062
26,007
24,269
19,644
14,861
8,462
GROSS PROFIT
143,1
4,270
4,291
7,913
976
14,465
11741
17,738
22, 993
21456
17,368
13,139
7473
SALARIES AND RFNEFITS
Salaries and Wages
148,819
10,867
10,867
11013
8,497
13,763
13763
13,763
14,003
14,003
13.093
12,783
12,403
Payroll Taxes
18,528
1,353
1,353
1,371
1,058
1,714
1,714
1,714
1.743
i 743
1,630
1,591
1,544
Workers'Compensation
6,131
413
448
454
350
567
567
567
577
577
539
527
511
Employee Meals
6,400
350
360
420
480
480
480
480
480
480
480
480
420
Health Insurance/Benefits
26,811
1,986
1986
1986,
2,317
2.317
2.317
2,317
2,317
2.317
2,317
2,317
2,317
TOTAL SALARIES AND BENEFITS
SUPPI r S AND MATERIALS
205,690
15,014
15,014
15,244
12,702
18,841
18.841
18,841
19,120
19,120
16060
17,698
17,195
OTHER EXPENSES
Office Supplies
6,000
500
500
500
500
500
500
500
500
500
500
500
Soo
Postage
0
Contract Services- Merchandise Consultant
6,000
500
500
500
500
500
500
500
500
500
500
500
Soo
Recruiting / Relocation
0
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 l Training
5,890
1250
150
1250
500
0
100
1,250
35
35
35
125D
35
Miscellaneous
450
0
0
0
50
50
50
50
50
50
50
50
50
TOTAL OTHER EXPENSES
24,626
2,460
1,360
2,460
1.785
1.485
1,485
2,925
1,410
1.410
1,410
4,925
1,410
TOTAL EXPENSES
230,215
17,474
16,374
17,704
14,487
20.326
20.326
21,766
20,530
20,530
19,470
22,623
18,605
TOTAL GOLF SHOP MERCHANDISE INCOME(LOSS) (86,393)
(132041
(12083)
19,791)
(13,511)
(5,8611
(8,585)
(4,028)
2,463
926
(;102)
(9,484)
(11,103)
Expendable Supplies are made up of: Goff Can Rental Agreements,
$ Goff Club Rental Agreements, Gift Certificates 8 Merchandise Bags
-.` Uniforms- Each Full -Time Emp receives (1) shirt per month
N
<S
10
2010-2011 ANNUAL PLAN
SilverRock
Projections
Resort
RUN DATE:
31-51 -10 02:11 PM
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
PQ
C-P
C_+
-July 2010 to June
2010-2011 ANNUAL PLAN silve,Reck aewn RUN DATE: 31-Mar-10 02:11 PM
P 'wlons -JuN N10 to June 2011 PREPAREDBY: 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
42,176
1.800
1,632
2,568
840
4,200
5,600
5.712
5,712
5.712
4,320
2,040
2,040
Payroll Taxes
5,261
224
203
320
105
523
697
711
711
711
538
254
254
Workers' Compensation
1,738
74
67
106
35
173
231
235
235
235
178
84
84
Employee Meals
3,420
180
180
180
180
300
420
420
420
420
360
180
180
TOTAL SALARIES AND BENEFITS
59,225
4,128
3,482
6,764
1,959
5,196
6,946
7,078
7,078
7.078
5,396
2,558
2,558
SUPPLIES AND MATERIALS
Expendable Supplies
1,050
50
50
100
100
100
100
100
100
100
100
75
75
TOTAL SUPPLIES AND MATERIALS
1,060
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
63,200
4.303
3,657
5,989
2,959
5,471
7398
7,354
7,303
7,303
5,946
2,758
2,758
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
12
2010-2011 ANNUAL PLAN
SllverRock Resort
Pro ectlons - Jul 201010 June 2011
BUN DATE: 31-Mao-10 02:II PM
PBEPAREDBY: Laedmar4 Golf ManaSenrnl
MAINTENANCE DEPAR1MENT-63
TOTAL I
JUL. I
AUG. I
SEP. I
OCT. I
NOV. I
DEC. I
JAN. I
FEB. I
MAR. I
APR. I
MAYT-JUN,771
SAI ARIES AND BENEFITS
Salaries and Wages
660,454
54, 308
54,308
54, 308
54,308
54,308
57,341
60,013
54,308
54, 313
54.313
54,313
54,313
Overtime Hourly Wages
16,698
0
0
0
10,306
0
0
2,466
0
0
0
0
2,806
Payroll Taxes
84,168
6,761
6,761
6,761
8,044
6,761
7,139
7,781
6.761
6.762
6,762
6.762
7,111
Workers' Compensation
27,638
2.237
2,237
2,237
2.521
2,237
2,362
2,541
2.237
2.238
2,238
2,238
2,315
Employee Meals
2,880
240
240
240
240
240
240
240
240
240
240
240
240
Health lnsurancelBenefds
104,880
8.740
8,740
8.740
8,740
8,740
8,740
8.740
8,740
8,740
8.740
8,740
8.740
TOTAL SALARIES AND BENEFITS
895,618
72,206
72,286
72,296
84,159
72,286
75,822
81,801
72,286
72,293
72,293
72,293
75,525
Fertilizer
89,400
8,400
16,000
11,000
17,500
4, 500
1,000
1,000
10,000
5,000
5,000
5,000
5,000
Fl.naiPlants
3,050
0
0
1,000
250
0
750
750
100
100
100
Gas &Oils
43,100
3,600
3,600
3,750
6,500
4.180
3,100
2,950
3,000
3,100
3,600
2,860
2,860
Goff Course Accessones
12.300
200
200
Soo
10,000
200
500
200
100
100
100
100
100
Chemicals& Pesticides
29,300
3,600
2,500
3,500
4,500
2,700
2,200
2000,
2,000
1.500
2,000
900
2,000
Herbicide
12,000
0
0
7,000
0
5.000
0
0
0
0
0
0
POA Control
7,000
0
0
0
0
3,500
0
3,500
0
0
0
0
0
Sand/MulchlBUnkef
11,460
390
390
5,000
2,000
2,000
800
380
100
100
100
100
100
Seed
91,810
350
350
250
88,060
350
350
350
350
350
350
350
350
Small Tools
5,000
100
100
2,000
2,000
100
100
100
100
100
100
100
100
Sod
3,360
1 000
2M
200
250
250
250
500
0
0
0
Soo
200
Topdressing
7,600
1,250
1.250
0
2,500
0
0
0
0
0
0
1,300
1,30D
TOTAL SUPPLIES AND MATERIALS
315,370
18,790
24,590
34,200
133,560
22,780
9,050
11,730
15,760
10,360
11,350
11,210
12,010
REPAIRS AND MAINTENANCE
Buildings & Bridges
1,760
250
250
250
0
0
0
250
250
0
250
250
Equipment
20.500
1,000
1000
1,000
8,000
1.000
1.000
1000
1,000
1,000
1500
1,500
1,500
litigation System
16,050
2.100
2,100
2,200
2,000
900
550
1,200
1000
1,000
1,000
1,000
1,000
Pumps
10,500
1000
1, 000
1000
1.00
1,000
1000
1,000
1000
1,000
1,000
500
0
SW Aquatics Lake Maint Contract
24610
3,360
2,055
3,235
1498
1.255
875
2,068
1,168
1,303
2940
2,265
2,590
Trees
10,050
0
0
3.500
550
0
0
0
0
2.000
4,000
0
0
TOTAL REPAIRS AND MAINTENANCE 83,460 7,710 6,405 11,185 13,048 4,155 3,425 5,518 4,418 6,303 10,440 5,515 6,340
N
CO 13
2010-2011 ANNUAL PLAN
SilverRock Resort RUN DATE: s-Mar10 02:II PM
Projections- Ju1y2010to June 2011 PREP4REDav: Lanamaek Eau Mana¢anem
MAINTENANCE DEPARTMENT -63
TOTAL
JUL
AUG.
SEP. I
OCT.
NOV. I
DEC.
JAN.
FEB. I
MAR. I
APR.
MAY
JUN.
OMER Expli
Contract Services SN11Tissue Tests
4,000
0
0
2,000
0
0
0
0
0
0
0
2,000
0
Dues and Subscriptions
640
0
0
0
0
0
0
0
240
0
200
0
100
Employee Education
1,560
50
50
50
50
50
50
50
1,000
50
50
50
50
Equipment Rental
4,200
200
150
150
1,800
600
200
200
200
200
200
2D0
100
Auto Expense
6,000
500
500
500
500
500
Soo
500
500
500
500
500
500
Licenses and Permits
1,430
100
100
80
0
0
0
0
0
1000
150
0
0
Miscellaneous
1,200
100
100
100
t00
100
100
100
100
100
100
100
100
Supplies
4,350
750
750
760
500
500
500
100
100
100
100
100
100
PropaneMatural Gas
180
15
15
15
15
15
15
15
15
15
15
15
15
Safety Equipment 8 Training
3,860
200
100
750
800
500
4W
400
200
200
100
100
100
Telephonei
10,200
850
850
850
850
850
850
850
850
850
850
860
650
Green Waste Removal
6,288
524
524
524
524
524
524
524
524
524
524
524
524
Uniforms 8 -me, Towels
9,840
820
820
820
820
820
820
820
820
820
820
820
820
TOTAL OTHER EXPENSES
53,628
4,109
3,959
6,589
5,959
4,459
3,959
3,559
4,549
4,359
3.609
5,269
3,259
TOTAL MAINTENANCE EXP. (EXCL Landscaping]
1,348,076
102,896
107,240
124,260
236,726
103,680
92,256
102,608
97,003
93,304
97,692
94,277
96,134
4, 500
Wages
129,755
10,813
10,813
10,813
10,813
10.813
10,813
10,813
10,813
10,813
10,813
10,813
10,813
Overtime Hourly Wages
5.272
0
0
811
2,839
811
0
0
0
0
0
0
811
Payroll Taxes
16,811
1.346
1 346
1,447
1 700
1,447
1,346
i 346
1,346
1,346
1.346
1,346
1,447
Workers Compensation
5.487
445
445
468
523
468
445
445
445
445
445
445
468
Health lnsurance/Benefils
27,804
2317
2317
2317
2317
2317
2317
2.317
2317
2,317
2,21W
2,317
2317
Landscape Wages B Benefits
185,130
14,921
14,921
15,856
18,192
15, 856
14,921
14,921
14,921
14.921
14,921
14,921
15,856
Small Tools
1,025
100
100
100
100
100
75
75
75
75
75
75
75
Repairs B Maintenance - Drip lntgation
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
COURSE 8 LANDSCAPE MAINTENANCE TOTAL
(EXCL UTILITIES(
WATER 8 ELECTRICITY COSTS
Water Cost
Electricity Pumping Costs
TOTAL WATER AND ELECTRIC COSI
TOTAL COURSE MAINTENANCE EXPENSES
193,885 15,561 15,561 16, 746 19082 16,746 15,786 15,536 16,536 15536 15536 15,536 16721
1,641,961 118,457 122,802 141.007 255,808 120.427 108,042 118,1" 112539 105841 113,228 109,813 112,856
43,055
4,960
6,200
6,160
3,960
3,255
2,325
1.860
1,473
1550
1550
3,255
6,510
42,300
4,5W
3,8M
4,000
3,000
3.000
3.000
3,000
4000
4,000
4,000
3,000
3,000
86,358
9,460
10,000
10,160
6,960
6,255
5.326
4,860
5,473
5,550
6.550
6,255
9,510
1,627,319
127,917
132,802
151,167
252,768
125,582
113,367
123,004
118,012
114,391
118,778
116,068
122,366
rV
14
h--5
20104011 ANNUAL PLAN SINeRto[k Insider .., E. ls.nl.rm n:Ir Psl
Pro ctiona-JYI 301010JUde 3511 Im.".Epel'. L.na..h CMf51.n.'ed
G 6 A DEPARTMENT -6)
TOTAL
JUL.
AUG.
SEP. I
OCT. I
NOV. I
DEC I
JAN.
FEB.
MAR.
APR.
MAY
JUN.
SALARIES AND BENEFITS
Salaries and Wage z
205A37
1T, 153
17,153
1T, 153
17.153
17,153
17,153
17,153
17,153
17,153
17,153
17.153
17,153
Inwnlrves l Bonus
0
0
0
0
0
0
0
0
0
0
0
0
0
Payroll Taxes
25,627
2136
2,135
2.136
2,IN
2.136
21M
2,136
2.136
2,136
2.136
2.136
2.136
WorkersCompensation
8'"0
707
207
TCT
707
TOT
TOT
TW
To)
TO]
707
TW
707
Employee Men,
2,160
I80
180
180
180
180
180
ISO
180
too
180
ISO
100
Health lasurancelBenefils
17,496
1,458
1,458
1,458
1,456
1458
1.458
1458
1,458
14"
1658
1458
1458
TOTAL SALARIES AND BENEFITS
259,600
21.633
21633
21.633
21633
21,633
21,633
21,633
21,633
21,633
21.633
21633
21,633
Equipment Repair
1,100
0
100
100
100
100
100
100
100
100
100
100
100
TOTAL REPAIRS AND MAINTENANCE
1,100
0
100
1Do
1W
too
100
IN
100
100
100
100
100
OMER EXPENSES
OMce supplies
1,200
100
100
100
too
100
100
100
100
100
100
100
100
Punting l stationary
3.300
100
100
in
100
100
400
l00
400
400
400
400
400
Postage
Wo
T5
75
75
TS
75
75
75
75
75
75
75
75
Rerunning I Relocation
1,400
0
0
200
200
200
200
200
20O
200
0
0
0
Dues and subscriptions
1,)00
50
0
200
50
50
200
100
100
W
50
Soo
50
FreiBM/Delivery
600
50
50
50
50
50
50
50
50
50
50
50
50
TpM
1.100
0
100
0
0
0
0
0
100
0
200
Soo
200
Promotion
3,100
100
100
100
IN
100
2000,
IN
100
1OD
100
1W
100
Auto Expense
4,800
400
400
400
400
400
400
400
400
400
400
400
400
Equipment Rental(Coparodoorge)
5.760
"0
480
480
480
480
480
480
480
480
480
480
480
Uniforms
1.030
75
75
75
150
150
75
75
75
75
75
75
75
Professional Fees(I.T. A safety Fees)
10,200
850
850
350
85D
850
850
850
850
850
850
850
850
Seminars l Training
2,400
200
200
200
200
200
200
200
200
200
200
200
200
Payroll Processing
9,120
760
760
780
760
760
T80
760
780
760
TBO
760
760
Computer Supplies(POS Support Fees)
5,200
4W
400
400
400
400
400
400
400
400
400
400
800
Bank & ADP Fees
1,080
90
90
90
90
90
90
90
90
90
90
90
90
Miscellaneous
1,200
100
100
100
100
100
100
100
100
IN
100
100
1Do
TOTAL OTNER EXPENSES 54,110 3,830 3,880 4,180 4,105 4, 105 - 6,380 4,38D 4j00 4330 4,330 5,080 4,730
TOTAL G&A EXPENSES 314,810 25663 25.013 25913 25,838 25,838 28, 113 28, 113 26.513 26,063 25,003 26813 26,463
Uniforms- Benefit to be shared beMeen GM & Controls,
Emenalnment & Promotion- GM promoting property for Wants[ clients
N
15
{'J
2010-2011 ANNUAL PLAN
SllverRock Resort
Projections -July 2010 to June 2011
MARKETING 31-Mzr-10 02:11 PM
PREPAREDBY: Landmark Golf Management
MARKETING DEPARTMENT -68
TOTAL
JUL. I
AUG. I
SEP. I
OCT. I
NOV. I
DEC.
JAN. I
FEB. I
MAR. I
APR. I
MAV
JUN.
SALARIES AND BENEFITS
Salaries and Wages
30,096
2.508
2,508
2,508
2.508
2,508
2,508
2,508
2,508
2,508
2,508
2,508
2.508
Payroll Taxes
3,747
312
312
312
312
312
312
312
312
312
312
312
312
Workers' Compensation
1,240
103
103
103
103
103
103
103
103
103
103
103
103
Employee Meals
720
60
60
60
60
60
66
60
60
60
60
60
60
Health Insurance/Benefits
3,972
331
331
331
331
331
331
331
331
331
331
331
331
TOTAL SALARIES AND BENEFITS
OTHER EXPENSES
Of0ce Supplies
Printing I Stationary
Postage
Contract Services Web Page
Dues and Subscriptions
Uniforms
Telephone
Civic, Community and Trade Show
Public Relations
Promotions I Meals
Promotion- (Media, Vendor Days, etc;
Advertising (Ad Purchases)
Collateral Material- (Yrd Bks, Rack Cris, Such, Brochures)
Miscellaneous
TOTAL OTHER EXPENSES
TOTAL MARKETING EXPENSES
39,775 3,315 3,315 3,315 3,315 3,315 3.315 3,315 3,315 3,315 3,315 3.315 3,315
1,200
100
100
100
100
100
100
100
100
100
100
100
100
4,426
0
0
200
3,000
200
200
200
125
125
125
125
125
Sao
50
50
50
50
So
50
50
50
50
50
50
50
4,800
400
400
400
400
400
400
400
400
400
400
400
400
735
0
0
0
0
0
0
35
400
300
0
0
0
600
0
0
0
300
50
50
50
50
50
50
0
a
1,200
100
100
100
100
100
100
100
1D0
100
100
100
100
2,925
75
75
75
750
750
750
75
75
75
75
75
75
3,500
0
0
500
500
1,000
500
500
500
0
0
0
0
300
25
25
25
25
25
25
25
25
25
25
25
25
700
0
0
0
50
50
50
300
50
50
50
50
50
192,534
8,287
10,677
26.657
10,087
19,227
20,277
24,537
25,477
17,727
16.177
7,427
5,977
9,000
0
0
0
2,500
1,000
0
2,500
500
500
Soo
1,000
500
350
0
0
0
0
50
50
50
50
50
50
50
222,869
9,037
11,427
28,107
17,862
23,002
22,552
28,922
27,902
19,662
17,702
9,402
7,402
262,6"
12,352
14,742
31,422
21,177
26,317
25,867
32,237
31,217
22,867
21,017
12,717
10,717
Promotion/Meals - OH property events (Chamber Mixers. Rotaries and
entertaining potential clients)
PromotioNMediaNendor Days - Radio/ Onsite Broadcasting.
Vendor Days - Show casing property in exchange for positive publicity
N
16
G�
2010-2011 ANNUAL PLAN SilverRock Resort mAR TING O-APr-10 02:12 PM
Projections - Jul 2010 to June 2011 PREPAREDBY: Landmark Golf Mam,went
TEMPORARY CLUBHOUSE• 800 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.
SUPPLIES AND MATERIALS
Expendable Supplies
Laundry Supplies
TOTAL SUPPLIES AND MATERIALS
REPAIRS AND MAINTENANCE
Building Structures
Restaurant Repairs
Equipment Repair
TOTAL REPAIRS AND MAINTENANCE
OTHER EXPENSES
Contract Services Cleaning
Telephone
Cable -Roadrunner
Water
Sewer
Safety Equipment
Natural Gas
Flowers and Decorations
Building Security (Roving Patro )
Miscellaneous
TOTAL OTHER EXPENSES
TOTAL CLUBHOUSE EXPENSES
2,400
200
200
200
200
200
200
200
200
200
200
200
200
2,400
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
3,600
300
300
300
30D
300
300
300
300
300
300
300
300
4,800
40D
400
400
40D
400
40D
400
400
400
400
400
400
4,800
400
400
400
400
400
40D
400
400
400
400
400
400
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
22,600
1,825
1.825
1,825
2,425
1.825
1,825
1.825
1,825
1.825
1,825
1,825
1,825
13,800
1,150
1,150
1,150
1,150
1.150
1,150
1.150
1,150
1.150
1,150
1,150
1,150
4,080
340
340
340
340
340
340
340
340
340
340
340
340
3,862
321
321
321
321
321
321
321
321
321
321
321
321
0
0
0
0
0
0
0
0
0
0
0
0
0
1,200
100
100
100
100
100
100
100
10D
100
100
100
100
3,600
300
300
300
300
300
300
300
300
300
30D
300
300
2,400
0
0
0
500
0
0
1,000
0
500
0
0
400
60,400
4.900
4,900
4,900
4,900
4,900
4.900
6,500
4.900
4,900
4,900
4,900
4,900
2,400
200
200
200
200
200
200
200
200
200
200
200
200
114,232
9.136
9,136
9,136
10,236
9,136
9,136
11,736
9,136
9,636
9,136
9,136
9,536
132,232 10.636 10,636 10,636 11,736 10,636 10,636-13,236 10.636 11,136 10,636 10,636 11,036
Expendable Supplies made up of: Locksmith, Trashbags, Lightbulbs, Mats,
Items related to Maintenance of Clubhouse
(V
6�
17
2010-2011 ANNUAL PLAN
SIIverRock Resort
Projections - July 2010 to June 2011
RUN DATE: OLAp ,10 IO:aO AM
PREPAREDBY: Landmark Colt Managnmml
MISC. DEPARTMENT - 980 & 990 TOTAL J JL. I AUG. I SEP. I OCT. I NOV. I DEC. I JAN. I FEE MAR. I APR. I MAY T JUN,
Management Fee - Fixed
90,000
21,652
21,310
10,026
19,052
(2,698)
8,115
6,147
(3,096)
(10,827)
(2,634)
6,040
17,713
FF&E Reserve (2.0%)
62,229
1,938
1,803
3,349
478
7,017
5,378
4,739
9,384
10,980
8,645
5,433
3,086
General Liability Insurance
26,400
2,200
2,200
2,200
2.200
2,200
2,200
2,200
2,200
2,200
2,200
2,200
2.200
Property Taxes - Regular ($15M @ 1.25%)
0
0
0
0
0
0
0
0
0
0
0
0
0
Personal Property Taxes
13,670
13.570
0
0
0
0
0
0
0
0
0
0
0
192,199
39,361
25,314
16,675
21,731
6,619
15,692
13,085
7,688
2,353
8,211
13,673
22,998
LEASEEXPENSES
Golf Cart Leases
150,324
11,581
11,581
11,581
11,581
13,000
13,000
13,000
13,000
13,000
13,000
13,000
13,000
Trailer Leases
7,200
600
600
600
600
600
600
600
600
600
600
600
600
GPS Lease (Up -Link)
90,216
8,636
8,636
8,636
8,636
8,636
8,636
6,400
6,400
6,400
6,400
6,400
6.400
Gob Course Maintenance Equipment Leases
0
0
0
0
0
0
0
0
0
0
0
0
0
247,740
20,817
20,817
20,817
20,817
22,236
22,236
20,000
20,000
20,000
20,000
20,000
20,000
18
1
2010-2011 ANNUAL PLAN silre4ixk aesen RUN DATE: 31-SLr-10 03:14 PM
P e,aens-Ju 3010 ro June 2011 PREPARED BY: LO.d..rk Go11Me0J$eme.t
FOOD B BEVERAGE DEPT-62
TOTAL
JUL.
AUG.
SEP.
OCT. I
NOV.
DEC. I
JAN.
FEB.
MAR.
APR.
MAY I
JUN.
FEVENUE
TOTAL NUMBER OF ROUNDS
42,080
2,600
2,375
3,550
400
4,500
3,600
3,700
4,900
5,900
5,105
4,000
2,450
GRILL ROOM/TERRA
AVERAGE FOOD REVENUE PER ROUND
$3.89
$2.00
$2.00
$4.50
$3.75
$4.00
$3.90
$7.25
$4,50
$4.25
$3.75
$3.75
$3.00
TOTAL SNACK SHOP FOOD REVENUE
167,659
5,200
4,750
16,975
1,500
18.000
14,040
19,575
22,050
25,075
19, 144
15,000
7,350
BEVERAGE CARTS
AVERAGE FOOD REVENUE PER ROUND
$1.13
$1.00
$1.00
$1.25
$2.25
$1.00
$1.00
$1.00
$1.00
$1.00
$1.00
$1.00
$1.00
TOTAL BEVERAGE CART FOOD REVENUE
43,468
2600
2,375
4.438
900
4,500
3,600
2,700
4,900
5,900
5.105
4,000
2,450
AVERAGE FOOD $ PER ROUND
$5.01
53.00
$3.00
$5.75
$6.00
$500
$4.90
$8.25
$5.50
$5.25
54.75
$4.75
$4.OD
BEVERAGEREVENUE
TOTAL NUMBER OF ROUNDS
42,080
2,600
2,375
3,550
400
4,600
3,600
2,700
4,900
5,900
5,105
4,000
2,460
AVERAGE BEVERAGE REVENUE PER ROUND
$2.29
$1.50
$1.50
$2.00
$2.50
$2.25
$2.00
$5.00
$2,25
$2.50
$2.50
$1.75
$1.75
TOTAL SNACK SHOP BEVERAGE REVENUE
96,213
3,900
3,563
7,100
1,000
10,125
7,200
13,500
11,025
14,750
12,763
7,000
4,288
39.67%
RFVFRArF CARTS
AVERAGE BEVERAGE REVENUE PER ROUND
$3.25
$2.00
$2.00
$2.00
$2.00
$4.00
$4.00
54.00
$4.00
$4.00
$3.50
$3.75
$3.75
TOTAL BEVERAGE CART BEVERAGE REVENUE
1 66,305
5,200
4,750
7,100
800
18,000
14,400
10,6D0
19,600
23,600
17,868
15,000
9,188
60.33%
AVERAGE BEVERAGE $ PER ROUND
$3.50
$3.50
$4.00
$4.50
$6.25
$6.00
$9.0
$6.25
$6.50
$6.00
$5.50
$5.50
19
2010-2011 ANNUAL PLAN srvedi«kResod RUNDATE: 31-Mar-10 03:14 PM
P ecYons �Ju i010 to Juv lOH PREPAREDBV: Landmark Gel( Management
Snack Shop/Terrace Food e e
167,659
5,200
4,750
15,975
1,500
18,000
14,040
19,575
22,050
25,075
19,144
15,000
7,350
Beverage Cart Food
43,469
2,600
2,375
4,438
900
4,500
3,600
2,700
4,900
5,900
5,105
4,000
2,450
Other Food Income
0
0
0
0
0
0
0
0
0
0
0
Non -Taxable Tournament Site Fees
0
0
0
0
0
0
0
0
0
0
0
0
Special Events
7,346
0
0
0
4, MIS
2,500
0
0
0
0
TOTAL FOOD REVENUE
218,472
7,800
7,12$
20413
],246
25,000
17,640
22,27$
26,950
30,W5
24,249
19,000
9,800
BEVERA. REV N I
Snack Shop/Terrace Beer &Whe
d8,106
1, 950
1781
3,550
Soo
5,063
3,600
6.]50
5.513
7,375
6,381
3,500
2,144
Snack Shop"Ferrace Sodas
48,106
1, 950
1,781
3,550
500
5,063
3,600
6,750
5,513
7,375
6,381
3,500
2,144
Beverage Can Beer & Wme
73,153
2600
2,375
3,550
400
9,00
7,200
5,400
9,800
11, BOO
8,934
7,500
4,594
Beverage Can Sodas
73,153
2,600
2,375
3,550
400
9,000
7200
54W
9,8M
11,800
8,934
7500
4,594
TOTAL BEVERAGE REVENUE
242.518
9,100
8,313
14,200
1,800
28,725
21,600
24,3W
30625
38,350
30,630
22,000
13,475
TOTAL FOOD & BEVERAGE REVENUE
460,990
16,900
15,438
34,613
9,046
53,126
39,240
46,575
67,575
69,325
54,879
41,00D
23,275
CS COST OF CAI FC
COS - Food (37%)
78,117
2,886
2,636
7,553
888
8,325
6,527
8,242
9,972
11461
8,972
7,030
3626
COS - Beer & Whet (25%)
30,315
1,138
1,039
1,775
226
3,516
2700
3,038
3,828
4,794
3,829
2,750
1,684
COS -Sodas(27%)
32,740
1,229
1,122
1917
243
3,797
2,916
3,281
4,134
5,177
4,135
2,970
1,819
TOTAL COST OF SALES
141,171
5,252
4,798
11245
1,356
15,638
12,143
14,5E0
17,934
21432
16,936
12,750
7,130
GROSS PROFIT
319,8111
11,648
10,64
23, 8
T,890
7
12,0
1
47,893
1
28,2
18,148
SALARIES AND BENEFITS
Salaries and Wages
190,505
15,139
15,139
16,372
8,475
16,099
16,289
18,001
16,673
18,001
12,196
12,139
12,135
Payroll Taxes
24,594
1,954
1,964
2,114
1094
2,078
2,103
2,324
2,178
2,324
2,1%
2,139
2,135
WorkersCompensation
7,849
624
624
675
349
653
671
742
695
742
701
683
681
Employee Meals
6,960
540
540
540
600
are
600
3,310
600
3,310
600
3,310
600
3,310
600
3,310
600
3,310
540
2,979
Health Insurance
38,396
2,979
2,979
2,979
3,310
3,310
TOTAL SALARIES AND BENEFITS
268,304
21,236
21,2%
22,679
13,828
22,751
22,973
24,977
23,656
24,977
23,819
23,301
22,869
SUPPi r C AND MATERIALC
Expendable Supplies
4,200
300
300
300
300
400
400
400
400
400
400
3W
300
Bar Utensils
1.250
150
100
100
100
100
100
100
100
1W
100
100
100
Menus, Napkins and Placemats
3,825
175
175
175
500
250
260
550
350
350
350
350
350
TOTAL SUPPLIES AND MATERIALS
9,275
625
575
575
900
750
]50
1,050
850
850
850
750
750
REPAIRS AND MAINTENANCE
Equipment Repair
3,600
300
300
300
300
300
300
300
300
300
300
300
300
TOTAL REPAIRS AND MAINTENANCE
3,600
300
300
300
300
300
300
300
3W
300
300
300
300
OTHEREXPENSES
Once Supplies
7,500
770
170
170
270
270
170
170
170
170
170
170
170
Phone
70
70
70
70
70
70
70
70
70
70
70
70
Equipment Rental
308
1,$00
150
150
150
150
150
150
1so
1SO
150
150
160
109
Non -Capital Equipment
600
50
50
50
50
50
50
50
50
50
50
525
50
50
50
150
Uniforms
5,975
525
525
525
525
525
525
1,200
200
525
525
525
526
525
525
525
525
525
525
525
525
525
525
Laundry and Linen
Lease Payment
2,000
12,220
SDD
i
1435Foo
1,435
1,soo435
1435
1,soo435
SOO435
SOO
Bank Fees
5,300
435
435
435
435
435
435
435
d25
135
435
435
435
435
435
435
436
435
Seminars
25
25
25
25
25
250
25
250
25
346
25
350
25
350
25
350
25
350
25
350
Cleaning Supplies
Supplies
596
3,686
250
250
250
250
0
900
0
0
0
0
Licenses and Permits
2,200
1,300
0
125
0
125
0
126
0
125
125
125
125
125
125
125
125
Miscellaneous
TOTAL OTHER EXPENSES
1,500
38,639
125
3,639
2,339
2,339
4,214
3,489
3,689
4,335
3,439
3439
2,839
2,439
2,439
TOTAL EXPENSES 319,818 25,800 24,450 25893 19,242 27,290 27,712 3D,662 28,245 29,566 27,808 26,790 26,358
TOTAL FOOD 6 BEVERAGE PROFIT IL«a) (0) 141$2) ( 10 1 2 ) Ill 1 1 (61 ) 13 1 6 18 4 146 (1021
Supplies Expendable is made up of: Smallwares, Papergoods, First -aid
Unitormi Each employee receives 4 shirts, 1 hat per season
'J
20
SilverRock Resort
2010-201 1 Marketing Plan Narrative
OBJECTIVE: To expand brand awareness for SilverRock Resort, promote
the Arnold Palmer Classic Course as a premier golf course in the
Coachella Valley and increase golf and golf -related revenues.
The July 2010-June 2011 Marketing Plan is built around an annual
Marketing Budget of $262,644. The Marketing Plan includes: advertising
and promotions, collateral materials, civic and community networking,
public relations, golf/consumer trade shows, and internet websites and e-
mail marketing.
ADVERTISING and PROMOTIONS
Advertising and promotions are targeted for La Quinta Residents and
tourist/resort golfers through advertising and media coverage in local,
regional and Southern California golf and travel publications. Advertising
consists of local newspaper, golf and travel magazines, regional
directories, local television and area radio. Advertising is budgeted at
$192,534 for 2010-201 1.
Newspaper advertising is placed in The Desert Sun with primary emphasis
on the sports enthusiasts with weekly "ear ads" appearing on the front
page of the Sports Section; ear ads are visible to all readers of the paper.
Newspaper advertisement makes up 15% of the Marketing Budget.
Special promotions are designed, as needed by season, and placed in
various print advertisements.
Magazines and directories consist of local and regional magazines, yellow
pages and golf -related directories. These ads vary from full page to
quarter page ads and are full color. Magazines and directories compose
over half (65%) of the advertising budget.
Television commercials (30 seconds) are placed on all three (3) local
network affiliates (CBS2, KESQ3-ABC, KMIR6-NBC) and Time Warner cable
stations. Local radio is used for 30-second spots and specific promotions.
TV and radio ads make up 20% of the advertising budget.
r, 61
21
COLLATERAL MATERIALS
Rack cards, scorecards, and information packets presenting SilverRock
Resort are used as marketing tools for SilverRock Resort. An emphasis will
be placed upon SilverRock's participation in the Bob Hope Classic.
Printed material will be produced, as needed, to promote SilverRock
Resort as a Home Course of the Bob Hope Chrysler Classic.
CIVIC AND COMMUNITY NETWORKING AND TRADESHOWS
SilverRock Resort is positioned as a community -friendly golf facility and is
committed to developing strong relationships with community
organizations such as the La Quinta Chamber of Commerce and various
local service organizations.
At various venues locally and around Southern California, trade shows
and expos are held that provide an opportunity to promote SilverRock
Resort. These trade shows and expos are focused on tourism, golf and
golf equipment/apparel, recreation, weddings and other related
industries and businesses.
TOURNAMENTS & GROUP OUTINGS
A continued concentrated effort to attract corporate and group outings
will be positioned through various networking opportunities. Tournament
business represents a large amount of outside play and is vital to
SilverRock's success.
JUNIOR GOLF
SilverRock will continue to support local Junior Golf by offering various
Summer Junior Camps, Junior Rates and being a host course for the La
Quinta High School Boys Golf Team.
INTERNET WEBSITES AND E-MAIL MARKETING
A benefit of memberships in selected local Chambers of Commerce and
the Convention and Visitors Authority is access to cross -marketing
opportunities through website links to SilverRock Resort.
E-mail database marketing is targeted to consumer e-mail addresses that
are collected daily through comment cards, tee -time bookings, selected
websites and the La Quinta Resident renewal process. This e-mail
database is used to send e-mail blasts promoting SilverRock Resort and/or
to offer specials during slower days of the seasons in an effort to maximize
tee sheet utilization.
22
3t2612010
SilverRock Resort -Arnold Palmer Classic Course
GOLF RATES 2010.2011
Reservation Type
(Book 90 Daysl
Public
Public Twi
Replay (Booked After Rnd)
Book 3 Dis
La Ouinta Resident
La 0uinta Resident Guest (20%off posted rate)
(Book 90 Dir
Wholesale
Wholesale Twilight
ook 1 Da
PGA PAID
Junior Rate (Before 2:00 p.m.)
Junior Rate (After 2:00 p.m.)
ook 1 Da
2010
-2010
Jul 1-Sept 19
July 1-Sept. 19
Mon-Tlwrs
Fri -Sun
S 56.00
S 65.00'
$ 40.00
S 50.00
S 25.00..
$ 25.00
$. 30.00.$
30.00
5 44A0
I$- 5200
$ 50.00$ 60.00
$ 30.001 $ 35.001
$... 25.001
$; 25.00-
$....... moo
1 $ ' 25.00
$ 10.001
E 10.00
$ 30.00
$ 36.00
s 68.00
$ - 84.00
'f 25.00$
S' 25i00:
$ 252
$ 35.00
$ 15.00`
2011
2011
Dec. 26-Alar.30
Dec. 26-Apr.30
Mon-Thurs
Fri- un
$ 166.00
$ 165.00
$ 95.00
S 95.00
$ 50.00
$ 50.00
E 55.00
S 55.00
S 132.00
E 132.00
$ 135.00 $ 135.00
$ 75.00 S 75.00
E 35.00
S 35.00
E 25.00
E 25.00
E 15.00
E 15.00
2011
May 1-June 30
2011
Ma l-June30 _
Mandhurs
Fri -sun
$ 85.00
3 105.00I
S ' 65.00
Y. 75.00;
$ 35.06
S 35.00
$ 45.60
is 45,00'
Is 68.00
1 $ 94.00
Y IS 25..00 00
$ 2500.
$ 25
Y 26.00:
f 15.00
11, 15.00'
Stand By Golf Rates to vary based upon actual bookings Rates to vary based upon actual bookings Rates to vary based upon actual bookings Rates to vary based upon actual bookings Rates to vary based upon actual bookie
(Book Up to 1 Year)
Grous(13+1 Negotiated Rates Negotiated Rates Negotiated Rates Negotiated Rates Negotiated Rates Negotiated Rates Negotiated Rates Negotiated Rates Negotiated Rates NegodatedRates
Juniors are 17 and under
All rates to include green fee, golf cart limited amount of range balls prior to round, except golf cart for Juniors
Non golfers -ride alongs-must abide by dress code, riders permitted based upon availability at a rate of$25 per rider.
City Employees -Prevailing Resident Rates
OTHER FEES
Rance Not Plavino
RatelFee
112 Hour
$
7.00
1 Hour
$
10.00
All Day Range Fee
$
25.00
Rental Clubs
$
45.00
Handicap Membership
$
45.00
Golf Lessons
1 Hpur
$
75.00
112 Hour
$
50.00
N
O
23
SILVERROCK RESORT
2010-2011 ANNUAL PLAN
2010-2011 Bob Hope Assumptions
OPERATIONAL EXPENSES
Revenue: It is assumed that the golf course will close for public play on
Sunday, January 16, 2011 for the Bob Hope Classic and reopen for play on
Sunday, January 23, 2011. The golf course will be closed for a total of seven
(7) days per the tournament contract. This loss of revenue for seven (7)
days has been factored into the 2010-201 1 Annual Plan for SilverRock
Resort and amounts to a loss of approximately $150,000 in revenue and
1,500 rounds of golf. Any additional days of course closure will impact the
revenue budget for the month of January 2011.
Wages: It is assumed that the SilverRock Resort hourly Golf Course
Maintenance crew of 30 employees will work an additional 41 hours of
overtime per person in the month of January to ensure PGA Tour course
standards. Also, additional payroll taxes and workers compensation
insurance will be an added expense as a result of the extra hours worked.
Supplies and Materials: Two (2) extra fertilizer applications (December and
January) will be needed to ensure top quality turf conditions. Additional
seasonal flowers and plants will be added at the entrance and clubhouse
area. Also, additional sand will be required to ensure all sand bunkers on
the course are consistent and are in compliance with PGA Tour standards.
Additional cool season seed may be required in order to be in compliance
with PGA Tour standards; a heavier seed rate will be used when
overseeding the fairways, tees and greens in the fall of 2010. If there are
any areas of the course that do not meet PGA Tour standards, those areas
must be sodded prior to the tournament.
Other Expenses: Additional maintenance equipment may be rented short
term to get the course ready for PGA Tour standards.
24
2010d011 ANNUAL PLAN SllverRock Resort RUN DATE' 31-M -10 63:14 Pm
Projections - Jul 2010to June 2011 PDEPw1lED sv: uoeA,rk cau m,o,6wem
SUPPLEMENTAL BOB HOPE EXPENSES
MAINTENANCE DEPARTMENT-63
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.
SALARIES AND BENEFITS
Salaries and Wages
0
0 0
0
0
0
0
0
0
0
0
0
0
Overtime Hourly Wages (41 hours at 30 employees)
16,500
0 0
0
0
0
0
16,500
0
0
0
0
0
Payroll Taxes
2,054
0 0
0
0
0
0
2054,
0
0
0
0
0
Workers' Compensation
451
0 0
0
0
0
0
453
0
0
0
0
0
TOTAL SALARIES AND BENEFITS
Fertilizer
31,000
0
0
0
0
10,000
11,000
lCow
0
0
0
0
0
Flo.rs/Plants
2,000
0
0
0
0
0
2,000
0
0
0
0
0
0
Sand/Bunker
10,000
0
5,000
0
5.00
0
0
0
0
0
0
0
0
Seed
25,00
0
0
0
0
25,000
0
0
0
0
0
0
0
Sod
6,000
0
0
0
2.000
2,000
2000,
0
0
0
0
0
0
Herbicide
5,000
5,0M
TOTAL SUPPLIES AND MATERIALS
79.000
0
5,000
0
7,000
37,000
20,000
10,000
0
0
0
0
0
OTHER EXPENSES
Equipment Rental
2,000
0
0
0
0
0
0
2,000
0
0
0
0
0
TOTAL OTHER EXPENSES
2,000
0
0
0
0
0
0
2,000
0
0
0
0
0
TOTAL COURSE MAINTENANCE EXPENSES
100,007
0
5,000
0
7,000
37,000
20,000
31,007
0
0
0
0
0
25
a
2010-2011 ANNUAL PLAN SilverRock Resort RUN DATE: 31-Mar-10 09:24 AM
Projections -July 2010 to June 2011 PREPARED BY: Landmark Golf Management
Front Entrance Landscaping I TOTAL JUL. I AUG. I SEP. I OCT. I NOV. I DEC. I JAN. I FEB. I MAR. I APR. I MAY I JUN.
Employee Count
Landscapers $ 8.25 2 2 2 2 2 2 2 2 2
SALARIES AND BENEFITS
Salaries and Wages
34,320
2,860
2,860
2,860
2,860
2,860
2,860
2,860
2,860
2,860
2,860
2,860
2,860
Payroll Taxes
4,272
356
356
356
356
356
356
356
356
356
356
356
356
Workers' Compensation
1,416
118
118
118
118
118
118
118
118
118
118
118
118
Employee Meals
0
0
0
0
0
0
0
0
0
0
0
0
0
Health Insurance/Benefits
4,612
376
376
376
376
376
376
376
376
376
376
376
376
TOTAL SALARIES AND BENEFITS
44,520
3,710
3,710
3,710
3,710
3,710
3,710
3,710
3,710
3,710
3,710
3,710
3,710
SUPPLIES AND MATERIALS
Fertilizer
1,800
150
150
150
150
150
150
150
150
150
150
150
150
Flowers/Plants
1,500
0
0
0
750
0
0
0
0
0
0
750
0
Pesticides
1,200
100
100
100
100
100
100
100
100
100
100
100
100
Seed
Soo
0
0
0
500
0
0
0
0
0
0
0
0
Miscellaneous
1,200
100
100
100
100
100
100
100
100
100
100
100
100
Uniforms & Linen/Towels
360
30
30
30
30
30
30
30
30
30
30
30
30
Irrigation Systems
1,200
100
100
100
100
100
100
100
100
100
100
100
100
TOTAL SUPPLIES AND MATERIALS
7,760
480
480
480
1,730
480
480
480
480
480
480
1,230
480
Total Front Entrance Landscaping
52,280
4,190
4,190
4,190
5,440
4,190
4,190
4,190
4,190
4,190
4,190
4,940
4,190
26
ATTACHMENT 2
SilverRock Resort
Resident Card Revenue
2010-2011
Green Fee Revenue Overview
Green fee revenue at SilverRock consists of a combination of Public and La
Quinta Resident Play. Through five years (5), La Quinta Resident play has
averaged 25-30 percent of the total rounds played on an annual basis. See
chart below.
Golf Rounds Distribution
® La Quinta Resident
■ Public Play
The average green fee of La Quinta Resident play is $47 on an annual basis
compared to an average green fee of $83 for non La Quinta Residents
(Public Play). Asa result, the average combined green fee for the year is
approximately $75. See chart below.
•1
M.
i tM.
�
��, fit'
1
i �'�?�#�i'�E�� `� I EI,�E v��'n pa#aeo. �'•
E ixitae4b
E'
E c!:I�i !I I, p64O C4S+-
3VIN III P.,
MN
•
..MWray .� i i ' P4FP4#•
P9#-tr eta
1
.�..My'
.�. �€ b4ff bb�
Min • -•
1
The third quarter (January -March) of each year generates nearly half of the
total green fee revenue realized at SilverRock.
The difference between the public average rate ($83) and the La Quinta
Resident Rate ($47) is $36 dollars per paid round. This difference translates to
approximately $360,000 on annual basis (assuming 10,000 resident rounds
annually). Currently, the La Quinta Resident rate could be viewed as being
subsidized by the General Fund.
The following are some options to eliminate or minimize this subsidy.
La Quinta Resident Card
Currently, the La Quinta Resident Card can be purchased for $15 and
good for three (3) years. La Quinta Residents pay, $30 (summer), $45
(Shoulder Season), and $55 (Prime Season). Additionally, their
accompanied guests receive 20% off the posted rates year round.
As of March 18, 2010, the Community Services Department has collected
$25,680 in Resident Card fees (785 new & 934 renewals) for the 2009-2010
Fiscal Year (began July 1, 2009).
La Quinta Resident play makes up 25-30% of the total rounds played at
SilverRock on an annual basis.
L75
CURRENT
Currently, the Resident Card Fee is $15 for every three (3) years. Assuming
there are 6,000 La Quinta Resident Card Holders, this generates
approximately $30,000 per year.
Current La Quinta Resident Card Holder Benefits:
• 20% off posted green fees for their accompanied guest(s).
• 15% off food discount in the grille room at SilverRock Resort (not
including beverages or beverage cart)
PROPOSAL
Increase the renewal fee from $15 every three (3) years to $50 every year.
Assuming 6,000 La Quinta Residents would renew every year; this would
generate $300,000 per year.
Revenue Projections based upon annual renewals:
6,000 annual renewals - $300,000 per year
5,000 annual renewals - $250,000 per year
4,000 annual renewals - $200,000 per year
3,000 annual renewals - $150,000 per year
Included in this proposal would be additional perks to a La Quinta Resident
Card holder at SilverRock Resort.
Additional Benefits:
• 15 % off food discount in the grille room at SilverRock Resort (not
including beverages or beverage cart)
15 % off merchandise in the golf shop at SilverRock Resort (not
including sale items or golf equipment. NEW
• Resident Guest Rates of 30% off the Posted Rates (vs. 20%) year
round. NEW
p.., 270