The Landings Yacht Golf & Tennis Club, Inc. For The Month Ending June 30, 2017 Fiscal Period 9

Transcription

1 The Landings Yacht Golf & Tennis Club, Inc. For The Month Ending June 30, 2017 Fiscal Period 9

2 The Landings Yacht Golf & Tennis Club, Inc. Table of Contents Financial Overview Pages 1-6 Balance Sheet Pages 7-8 Financial Statement Pages Month Forecast/Budget Pages 22 Cash Flow Report Page 23 Incidental Information Pages Delinquent Accounts Page 27 Reserve Expenditure Analysis Pages Employee Count Page 30

3 Financial Overview June 2017 Monthly Overview: MTD Actual Budget Var. Last Year Var Total Revenue $611,025 $637,221 ($26,196) $633,114 ($22,089) MTD Actual Budget Var. Last Year Var. Operating Profit $95,367 $88,167 $7,200 $68,243 $27,124 YTD Actual Budget Var. Last Year Var Total Revenue $7,393,598 $7,234,383 $159,215 $7,225,437 $168,161 YTD Actual Budget Var. Last Year Var Operating Profit $1,139,063 $1,002,834 $136,229 $1,052,080 $86,983 Summary: For the current period ending June 2017, Club Revenue came in at $611,025 versus a budget of $637,221 for a negative variance of ($26,196). Gross Operating Profit for the month was $95,367 compared to a budget of $88,167 for a positive variance of $7,200.. The Food and Beverage Department had revenues of $61,904 compared to a budget of $61,239 resulting in a positive variance of $665. Cost of sales for food came in at 44.8% for the month on a budget of 40.4% and beverage costs were 33.6% compared to a budget of 32%. Wages and Benefits were slightly under budget at 110% of revenue vs. a budget of 110.6% of revenue. Operational expenses for the department were $14,351 compared to a budgeted operational expense for the month of $10,696 for a variance of ($3,655). Year to date profit/loss is ($166,290) compared to a budget of ($272,040) for a positive variance of $105,750. The Golf Department s revenue for the month was $9,740 compared to a budget of $8,827, for a positive variance of $913. Cost of Merchandise sales were 57% compared to a budget of 73%. Total Departmental expenses for the month came in under budget by $3,146. Departmental loss for the month was ($9,502) compared to a budgeted loss of ($13,731) for a positive variance of $4,229. Year to date the Golf department is under the net loss budget by $27,403. Year to date revenues are exceeding budget by 1

4 $9,071 and exceeding last year to date by $6,621. Year to date other operating expenses are slightly over budget by ($1,491). The Tennis Department was under budget for the month in revenues, and slightly under budget for the month in profit/loss. Merchandise Sales were slightly under budget for the month by ($893). Cost of sales for the year is just over budget at 80.8%, higher for the month due to summer season sales. The Departmental expense for the month was ($10,689) compared to a budgeted expense of ($12,206) resulting in a positive variance of $1,517. Year to Date the Tennis department is over budget in revenues by $11,742. Overall, the Tennis Department has a year to date departmental loss of ($163,136) and is over budget for the year ($2,457). The Marina Department had slow month due to weather and less boat utilization with overall revenues coming in under budget by $18,037. This number is due to sub-contractor work being less than was anticipated as well as Merchandise sales and fuel sales. Profit on fuel was higher than budget because of our pricing. Fuel pricing at the pump was $.185 a gallon less than what was budgeted for revenue; however, we exceeded our budgeted gallons for gas (18,000) by 1,080 gallons (19,080). We also exceeded our budgeted profit for gallons by.13 cents per gallon. Sub-contractor month revenues were down this month and came in under the budgeted amount of $45,000 by $9,994. Merchandise sales were under budget as well coming in at $7,625 compared to a budget of $13,500 for a negative variance of ($5,875). Year to date revenues are higher than budget by $102,461. The department showed a profit for the month of $2,472 compared to a budget of $1,816 for a positive variance of $656. Year to date the Marina Department is over budget in departmental profit by $44,284. Administrative and general was over budget with a departmental expense of $67,063 compared to a budget of $64,699 due to increased legal fees and the purchase of a new Jonas software module. The Community Patrol Department was under budget by $2,122. Departmental expense for the month was $26,455 compared to a budget of $28,578, the positive variance being mostly due to savings in Gasoline & Oil, Maintenance & Repairs and Office Expense. Year to date expenses of $253,972 are under the budgeted amount of $264,664 by $10,692. Golf Course Maintenance is under budget $1,225 this month and over budget $9,673 YTD. We will continue to monitor and adjust when possible without allowing our conditions to decline. Property Maintenance Department was over budget $665 this month and over $18,247 YTD. We will monitor and adjust to get budget in line when possible without sacrificing the needs of the club. 2

5 JUNE 2017 Accounts Receivable: Delinquent Dues and House Receivables: The club does not have any accounts in collections. The current balance of delinquent membership accounts is $4, The current list has 2 accounts on it. Two accounts were paid totaling $3, and one account was added totaling $3, Capital Contributions: During the month of June 2017, the Club received $55, in capital contribution funds. This contribution amount was made up of 13 sales and 2 refunds. The Year to Date capital fund contribution amount is $278, The Year to Date Contribution amount is made up of 71 Sales and 15 refunds. Cash Balances: For the Month, ending June 2017 the Club had a Capital Reserve Fund cash balance of $992,590 and an Operating cash balance of $896,047. Food & Beverage Department: MTD Actual Budget Var. Last Year Var Total Revenue $61,904 $61,239 $665 $55,782 $6,122 MTD Actual Budget Var. Last Year Var Profit/(Loss) (44,121) ($38,821) ($5,300) ($45,652) $1,531 YTD Actual Budget Var. Last Year Var Profit/(Loss) ($166,290)) ($272,040) $105,750 ($227,841) $61,551 Items of Note: Food Cost of Sales was slightly over budget by 4.4% but is under budget by 4.8% year to date. Cleaning Supplies was under budget by $546 as the monies were not utilized this month but will be in future months as the need arises. Laundry and Linen was under budget by $697, which was a direct result of less banquet business for the month of June then was budgeted. Maintenance Contracts was over budget by ($993) due to the timing of services but is under budget year to date by $747. 3

6 Miscellaneous was over budget by $543 however, this amount was captured under miscellaneous revenue. Golf Department: MTD Actual Budget Var. Last Year Var. Golf Rounds (83) Total Rev/Round (.87) Total Revenue 9,740 8, , NOI (9,502) (13,731) 4,229 (12,215) 2,713 Items of Note: Overall Expenses for the month came in under budget by $3,146. Year to date wages & benefits are under the projected budget by $4,902. Cost of Sales 57%, which is under the projected COS budget of 73%, by 16%. Merchandise sales were over the projected budget by $196. Cart Revenue was strong this month and exceeded budget by $538. Tennis Department: MTD Actual Budget Var. Last Year Var. Total Revenue $9,818 $20,018 ($10,200) $21,249 ($11,431) NOI ($10,689) ($12,206) $1,517 ($15,034) ($4,345) Items of Note: Tennis Lessons - Under budget for the month with one less pro than normal Tennis Camp. - Under budget - was moved to July. Clay additional clay needed due to the heavy rains. 4

7 Marina Department: MTD Actual Budget Var. Last Year Var. Total Revenue $119,551 $137,588 ($18,037) $141,452 ($21,901) NOI $2,472 $1,816 $656 $6,548 ($4,076) Items of Note: Fuel Sales gallon sales continue to be strong and gallons are exceeding budget Year to date operating profit exceeds budget by $44,284. Sub-Contractor Work is under budget for the year by ($26,387) Total revenue is ahead of budget by $102,461 Even with record rainfalls we have been able to meet fuel sales numbers and perform repairs to show a positive month end that still remains ahead of budget Administrative & General Department: MTD Actual Budget Var. Last Year Var Dept. Expense $67,063 $64,699 ($2,364) $73,452 $6,389 Items of Note: Legal Fees - over budget for the month $1,208 License and Fees - over budget $1,723 due to the purchase of new Jonas Software for golf and tennis lesson packages tracking. Community Patrol Department: MTD Actual Budget Var. Last Year Var Dept. Expense $26,455 $28,578 $2,123 $26,

8 Golf Course Maintenance Department: MTD Actual Budget Var. Last Year Var Dept. Expense $71,630 $72,855 $1,225 $80,106 $8,476 Items of Note: Wages & Benefits are over $2,078 this month for needed maintenance. Contract Labor is over budget $850 this month. Weather forced us to move scheduled maintenance back. Fuel is under budget $701. Weather influenced. Property Maintenance Department: MTD Actual Budget Var. Last Year Var Dept. Expense $58,731 $58,065 ($665) $64,885 $6,154 Items of Note: Equipment Rental is over budget $3500 due to a delay in securing our emergency generator. Grounds & Landscaping is over budget $1,033 due to the added maintenance for the Pickle Ball facility and a Palm fertilization. Pool Maintenance is over budget $1,346 due to the purchase of new pool cabana s. Trees, Shrubs & Flowers is under budget $4,500 this month but over budget last month $3,775. The timing of an install was the reason for the variances. Expense is in line with budget year to date. 6

9 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. BALANCE SHEET June 30, 2017 Same Month Current Month Previous Month Last Year ASSETS Cash CASH - OPERATING 896, , ,904 CASH - CAPITAL RESERVE FUNDS 724, , ,502 CASH - UTILITY INFRASTRUCTURE SET-ASIDE 268, , ,500 Total Cash 1,888,637 1,357,432 1,555,907 Account Receivable ACCOUNTS RECEIVABLE - MEMBER ACCOUNTS 525, , ,763 ALLOWANCE FOR DOUBTFUL ACCOUNTS (17,807) (16,090) (54,977) Total Accounts Receivable 507, , ,785 Inventory INVENTORY - FOOD 19,567 22,612 21,899 INVENTORY - BEVERAGE 32,440 33,659 28,140 INVENTORY - GATE TRANSMITTER 3, ,179 INVENTORY - TENNIS PRO SHOP 31,659 30,123 82,148 INVENTORY - GOLF PRO SHOP 35,013 33,090 33,588 INVENTORY - MARINA SHOP 68,741 65,443 62,378 INVENTORY - MARINA FUEL 13,634 10,388 11,587 Total Inventory 204, , ,919 Prepaid Expenses PREPAID INSURANCE 87, , ,811 PREPAID OTHER 44,534 28,961 77,033 Total Prepaid Expenses 131, , ,844 Fixed Assets PROPERTY & IMPROVEMENTS 7,931,073 7,931,073 7,429,977 BUILDING & IMPROVEMENTS 11,674,815 11,674,815 11,366,717 SITE IMPROVEMENTS 3,326,887 3,326,887 3,326,887 BUILDING - AMENITY PURCHASE 1,990,001 1,990,001 1,990,001 LAND - AMENTIY PURCHASE 3,910,000 3,910,000 3,910,000 LAND PURCHASE - DRIVING RANGE 1,008,633 1,008,633 1,008,633 CIP - CURRENT YEAR 1,061,904 1,027, ,500 CAPITALIZED LOAN FEES 124, ,179 94,194 WIP CLUBHOUSE INFRASTRUCTURE LESS ACCUMULATED DEPRECIATION (12,504,450) (12,393,183) (11,135,755) Total Net Fixed Assets 18,523,651 18,602,656 18,661,154 Other Assets DEPOSITS - BEVERAGE ESCROW 3,500 3,500 3,500 DEPOSITS ,401 Total Other Assets 3,512 3,512 4,901 Total Assets 21,259,179 20,888,651 21,216,510 7

10 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. BALANCE SHEET June 30, 2017 Same Month Current Month Previous Month Last Year LIABILITIES AND EQUITY Accounts Payable ACCOUNTS PAYABLE - TRADE 74, , ,519 ACCOUNTS PAYABLE - INSURANCE 28,872 53,443 34,622 ACCOUNTS PAYABLE - SALES TAX 20,093 18,728 16,586 ACCOUNTS PAYABLE - GRATUITIES 10,969 11,159 7,332 LOAN PAYABLE - BANK OF AMERICA CURRENT 617, , ,726 LOAN PAYABLE - BOA CAPITAL IMPROVEMENT 413, Total Accounts Payable 1,166, , ,785 Accrued Liabilities ACCRUED OTHER 10,630 14,744 6,444 ACCRUED UTILITIES 5,796 3,901 13,946 ACCRUED PAYROLL 89,897 81,550 85,424 ACCRUED BONUS (4,768) (8,018) 10,155 ACCRUED VACATION 33,176 30,960 43,446 ACCRUED AUDIT FEE (11,350) (8,700) 0 DEPOSITS/SWEEPS/GIFT CERTIFICATES 17,090 23,624 30,595 DEFERRED REVENUE 519, , ,076 Total Accrued Liabilities 660, , ,087 Long Term Liabilities LOAN PAYABLE - BANK OF AMERICA LONG TERM 2,309,316 2,361,609 2,936,319 Total Long Term Liabilities 2,309,316 2,361,609 2,936,319 Funds REPLACEMENT FUNDS - CONTRIBUTIONS 7,023,158 6,968,718 6,348,829 REPLACEMENT FUNDS - EXPENDITURES (9,934,943) (9,900,290) (8,708,300) CAPITAL FUND - CONTRIBUTIONS 3,314,623 3,259,623 2,946,623 HELM CLUB CAPITAL CONTRIBUTIONS 1,274,494 1,274,494 1,274,494 Total Funds 1,677,333 1,602,546 1,861,646 Total Liabilities 5,813,485 5,413,013 6,234,837 Member's Equity CAPITAL FUND EXPENDITURES 949, , ,395 PRIOR YEAR MEMBER'S EQUITY 14,789,586 14,789,586 14,761,954 CURRENT YEAR INCOME/(LOSS) (293,554) (228,957) (438,677) Total Member's Equity 15,445,694 15,475,638 14,981,672 Total Liabilities & Member's Equity 21,259,179 20,888,651 21,216,510 8

11 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. SUMMARY PROFIT & LOSS June 30, 2017 M-T-D M-T-D M-T-D Y-T-D Y-T-D Y-T-D ACTUAL BUDGET LAST YEAR ACTUAL BUDGET LAST YEAR 611, % 637, % 633, % TOTAL REVENUE 7,393, % 7,234, % 7,225, % FOOD & BEVERAGE 61, % 61, % 55, % Total F&B Revenue 1,550, % 1,524, % 1,447, % 68, % 67, % 70, % Wages & Benefits 963, % 992, % 970, % 17, % 16, % 14, % Food Cost Of Sales 374, % 422, % 393, % 6, % 5, % 5, % Beverage Cost Of Sales 142, % 137, % 135, % 14, % 10, % 10, % Other Expenses 235, % 244, % 227, % (44,121) -71.3% (38,821) -63.4% (45,652) -81.8% FOOD & BEVERAGE PROFIT/(LOSS) (166,290) -10.7% (272,040) -17.8% (280,049) -19.3% GOLF OPERATIONS PROFIT/(LOSS) 9, % 8, % 9, % Total Pro Shop Revenue 302, % 293, % 295, % 14, % 15, % 14, % Wages & Benefits 211, % 216, % 201, % 1, % 1, % 1, % Cost Of Sales 61, % 75, % 71, % 3, % 6, % 5, % Other Expenses 60, % 59, % 56, % (9,502) -97.6% (13,731) % (12,215) % GOLF OPERATIONS PROFIT/(LOSS) (30,939) -10.2% (58,342) -19.9% (34,018) -11.5% TENNIS OPERATIONS PROFIT/(LOSS) 9, % 20, % 21, % Total Pro Shop Revenue 208, % 197, % 233, % 12, % 24, % 21, % Wages & Benefits 240, % 250, % 228, % 4, % 4, % 3, % Cost Of Sales 56, % 52, % 47, % 3, % 3, % 11, % Other Expenses 75, % 54, % 94, % (10,689) % (12,206) -61.0% (15,034) -70.8% TENNIS OPERATIONS PROFIT/(LOSS) (163,136) -78.1% (160,679) -81.5% (137,234) -58.8% MARINA OPERATIONS PROFIT/(LOSS) 119, % 137, % 141, % Total Marina Revenue 1,573, % 1,471, % 1,555, % 20, % 19, % 20, % Wages & Benefits 197, % 191, % 194, % 88, % 107, % 108, % Cost Of Sales 1,204, % 1,146, % 1,194, % 7, % 8, % 6, % Other Expenses 69, % 75, % 68, % 2, % 1, % 6, % MARINA OPERATIONS PROFIT/(LOSS) 102, % 58, % 98, % 410, % 409, % 405, % TOTAL MISCELLANEOUS INCOME 3,758, % 3,747, % 3,693, % OVERHEAD DEPARTMENTS 67, % 64, % 73, % Administrative & General 641, % 638, % 662, % 26, % 28, % 26, % Community Patrol 253, % 264, % 251, % 71, % 72, % 80, % Golf Course Maintenance 651, % 641, % 626, % 58, % 58, % 64, % Property Maintenance 520, % 501, % 490, % 28, % 34, % 25, % Utilities 293, % 265, % 257, % 252, % 258, % 270, % TOTAL OVERHEAD DEPARTMENT EXPENSE 2,360, % 2,311, % 2,288, % 95, % 88, % 68, % GROSS OPERATING PROFIT/(LOSS) 1,139, % 1,002, % 1,052, % 27, % 32, % 33, % Insurance 252, % 296, % 305, % 0 0.0% 0 0.0% 0 0.0% Insurance Loss Expense 5, % 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Taxes Personal Property 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Taxes Personal Property - Lease 6, % 7, % 6, % 0 0.0% 0 0.0% 0 0.0% Taxes - Income Tax 0 0.0% 0 0.0% 0 0.0% 8, % 8, % 8, % Management Fees 76, % 76, % 80, % 0 0.0% 0 0.0% 0 0.0% Contingency 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Other Adds & Deducts 0 0.0% 0 0.0% 0 0.0% 59, % 46, % 26, % PROFIT/(LOSS) BEFORE DEP/AMORT/INT 797, % 621, % 659, % 113, % 100, % 100, % Depreciation & Amortization 970, % 902, % 902, % 10, % 17, % 20, % Interest 120, % 161, % 196, % 0 0.0% 0 0.0% 0 0.0% Capital Contribution 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Capital Reserve 0 0.0% 0 0.0% 0 0.0% (64,550) -10.6% (70,980) -11.1% (94,915) -15.0% NET INCOME/(LOSS) (293,554) -4.0% (442,784) -6.1% (438,677) -6.1% 9

12 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. COMBINED FOOD & BEVERAGE DEPARTMENTAL PROFIT & LOSS June 30, 2017 M-T-D M-T-D M-T-D Y-T-D Y-T-D Y-T-D ACTUAL BUDGET LAST YEAR ACTUAL BUDGET LAST YEAR REVENUE FOOD REVENUE 35, % 30, % 31, % Dining Room 721, % 721, % 687, % 3, % 9, % 4, % Banquet 310, % 306, % 282, % 0 0.0% 0 0.0% 0 0.0% Patio 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Prime Dining 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Picnic Point 0 0.0% 0 0.0% 0 0.0% 39, % 40, % 36, % TOTAL FOOD REVENUE 1,032, % 1,027, % 970, % BEVERAGE REVENUE 17, % 13, % 15, % Dining Room 351, % 337, % 326, % 1, % 2, % % Banquet 105, % 91, % 89, % 0 0.0% 0 0.0% 0 0.0% Patio 0 0.0% 0 0.0% 0 0.0% 18, % 16, % 15, % TOTAL BEVERAGE REVENUE 457, % 429, % 416, % OTHER REVENUE 3, % 3, % 3, % Helm Club Dues 31, % 33, % 32, % 1, % % 0 0.0% Miscellaneous 29, % 34, % 28, % 4, % 4, % 3, % TOTAL OTHER REVENUE 61, % 68, % 61, % 61, % 61, % 55, % TOTAL FOOD & BEVERAGE REVENUE 1,550, % 1,524, % 1,447, % COST OF SALES 17, % 16, % 14, % Food Cost of Sales 374, % 422, % 393, % 6, % 5, % 5, % Beverage Cost of Sales 142, % 137, % 135, % 23, % 21, % 20, % TOTAL COST OF SALES 517, % 559, % 528, % WAGES & BENEFITS 25, % 23, % 24, % Salaries & Wages - Dining Room 368, % 368, % 359, % 23, % 22, % 22, % Salaries & Wages - Kitchen 349, % 356, % 336, % 8, % 7, % 7, % Payroll Burden 144, % 138, % 137, % 2, % 1, % 2, % Employee Meals 35, % 28, % 30, % 3, % 7, % 6, % Group Insurance 35, % 67, % 65, % 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% 3, % 4, % 5, % Vacation/Holiday 24, % 26, % 34, % % % % 401(k) Program 3, % 4, % 5, % % % % Miscellaneous 2, % 3, % 2, % 68, % 67, % 70, % TOTAL WAGES & BENEFITS 963, % 992, % 970, % OTHER EXPENSES 0 0.0% 0 0.0% 0 0.0% Advertising - Help Wanted % % 1, % 0 0.0% 0 0.0% % Banquet Supplies 2, % 3, % 2, % % % % Cable TV 5, % 5, % 4, % % 0 0.0% 0 0.0% Cash ( Over ) / Short % 0 0.0% (30) 0.0% % 0 0.0% 0 0.0% China/Glass/Silverware 9, % 10, % 6, % % % % Cleaning Supplies 9, % 11, % 9, % 0 0.0% 0 0.0% 0 0.0% Clubhouse Cleaning 0 0.0% 0 0.0% % 0 0.0% 0 0.0% 0 0.0% Contract Labor % % 1, % % % % Credit Card Discounts Fees 14, % 14, % 13, % 0 0.0% 0 0.0% % Decorations 6, % 7, % 6, % 0 0.0% 0 0.0% % Dues & Subscriptions 2, % 2, % 1, % % 0 0.0% 0 0.0% Equipment Rental 8, % 10, % 10, % 0 0.0% 0 0.0% 0 0.0% Gasoline & Oil % 0 0.0% % 0 0.0% % 0 0.0% Kitchen Equipment % 1, % % % 1, % 1, % Laundry & Linen 21, % 22, % 26, % 1, % 1, % 1, % Leased Equipment 11, % 10, % 10, % % % 0 0.0% License & Fees 2, % 2, % 1, % 0 0.0% 0 0.0% 0 0.0% Locker Room Supplies 0 0.0% 0 0.0% 0 0.0% 1, % % 1, % Maintenance Contracts 16, % 17, % 13, % 2, % % % Maintenance & Repairs 19, % 15, % 12, % % % % Marketing & Advertising 1, % 1, % 2, % 0 0.0% 0 0.0% 0 0.0% Menus & Drink List 0 0.0% 0 0.0% 0 0.0% % 0 0.0% 0 0.0% Meals & Entertainment % 0 0.0% % 0 0.0% 0 0.0% 0 0.0% Member Relations 0 0.0% 0 0.0% 0 0.0% % 0 0.0% % Miscellaneous 6, % 4, % 5, % 1, % 1, % 1, % Music & Entertainment 46, % 50, % 46, % % % % Office Expense 2, % 1, % 2, % % % % Operating Supplies 11, % 13, % 14, % % % % Paper & Plastic 13, % 14, % 12, % 0 0.0% 0 0.0% 0 0.0% Pest Control 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Printing 0 0.0% 0 0.0% % % % % Promotions 10, % 8, % 7, % 0 0.0% 0 0.0% 0 0.0% Table & Bar Supplies 0 0.0% 0 0.0% 0 0.0% % % % Telephone 6, % 7, % 7, % % % % Travel % % % % % % Uniforms 3, % 5, % 4, % 0 0.0% 0 0.0% 0 0.0% Utensils % 1, % % 14, % 10, % 10, % TOTAL OTHER EXPENSES 235, % 244, % 227, % (44,121) -71.3% (38,821) -63.4% (45,652) -81.8% DEPARTMENTAL PROFIT/(LOSS) (166,290) -10.7% (272,040) -17.8% (280,049) -19.3% 10

13 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. WHEELHOUSE RESTAURANT DEPARTMENTAL PROFIT & LOSS June 30, 2017 M-T-D M-T-D M-T-D Y-T-D Y-T-D Y-T-D ACTUAL BUDGET LAST YEAR ACTUAL BUDGET LAST YEAR REVENUE FOOD REVENUE 35, % 30, % 31, % Dining Room 540, % 550, % 525, % 0 0.0% 0 0.0% 0 0.0% Banquet 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Patio 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Picinc Point 0 0.0% 0 0.0% 0 0.0% 35, % 30, % 31, % TOTAL FOOD REVENUE 540, % 550, % 525, % BEVERAGE REVENUE 17, % 13, % 15, % Dining Room 239, % 238, % 229, % 0 0.0% 0 0.0% 0 0.0% Banquet 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Patio 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Picnic Point 0 0.0% 0 0.0% 0 0.0% 17, % 13, % 15, % TOTAL BEVERAGE REVENUE 239, % 238, % 229, % OTHER REVENUE 0 0.0% 0 0.0% 0 0.0% Miscellaneous 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% TOTAL OTHER REVENUE 0 0.0% 0 0.0% 0 0.0% 52, % 44, % 46, % TOTAL FOOD & BEVERAGE REVENUE 779, % 789, % 755, % COST OF SALES 16, % 12, % 12, % Food Cost of Sales 205, % 217, % 198, % 5, % 4, % 5, % Beverage Cost of Sales 78, % 76, % 75, % 21, % 16, % 18, % TOTAL COST OF SALES 283, % 293, % 274, % WAGES & BENEFITS 19, % 16, % 16, % Salaries & Wages - Dining Room 192, % 203, % 196, % 17, % 16, % 17, % Salaries & Wages - Kitchen 192, % 185, % 182, % 6, % 5, % 5, % Payroll Burden 83, % 81, % 80, % 2, % % 2, % Employee Meals 22, % 17, % 20, % 2, % 4, % 5, % Group Insurance 25, % 38, % 40, % 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% 2, % 3, % 3, % Vacation/Holiday 18, % 16, % 22, % % % % 401(k) Program 2, % 2, % 2, % % % % Miscellaneous 1, % 2, % 1, % 50, % 46, % 50, % TOTAL WAGES & BENEFITS 538, % 548, % 547, % OTHER EXPENSES 0 0.0% 0 0.0% 0 0.0% Advertising - Help Wanted % % % 0 0.0% 0 0.0% 0 0.0% Banquet Supplies 0 0.0% 0 0.0% 0 0.0% % % % Cable TV 3, % 2, % 2, % % 0 0.0% 0 0.0% Cash ( Over ) / Short % 0 0.0% (24) 0.0% % 0 0.0% 0 0.0% China/Glass/Silverware 7, % 6, % 4, % % % % Cleaning Supplies 4, % 4, % 4, % 0 0.0% 0 0.0% 0 0.0% Clubhouse Cleaning 0 0.0% 0 0.0% 0 0.0% % % % Credit Card Discounts Fees 9, % 9, % 9, % 0 0.0% 0 0.0% 0 0.0% Decorations % % % 0 0.0% 0 0.0% 0 0.0% Dues & Subscriptions 1, % 1, % % 0 0.0% 0 0.0% 0 0.0% Equipment Rental 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Gasoline & Oil % 0 0.0% % 0 0.0% 0 0.0% 0 0.0% Kitchen Equipment % % 0 0.0% % % % Laundry & Linen 9, % 8, % 10, % % % % Leased Equipment 5, % 3, % 3, % 0 0.0% 0 0.0% 0 0.0% License & Fees % % % 1, % % % Maintenance Contracts 7, % 6, % 5, % % % % Maintenance & Repairs 7, % 5, % 3, % % 0 0.0% 0 0.0% Meals & Entertainment % 0 0.0% 0 0.0% 9 0.0% 0 0.0% % Miscellaneous % 0 0.0% % 1, % 1, % 1, % Music & Entertainment 13, % 15, % 14, % % % % Office Expense % % % % % % Operating Supplies 6, % 5, % 6, % % % % Paper & Plastic 7, % 8, % 6, % % % % Promotions 4, % 4, % 4, % % % % Telephone 2, % 3, % 3, % 0 0.0% 0 0.0% 0 0.0% Travel 0 0.0% 0 0.0% 0 0.0% % % % Uniforms 1, % 1, % 1, % 0 0.0% 0 0.0% 0 0.0% Utensils 0 0.0% 0 0.0% % 8, % 6, % 6, % TOTAL OTHER EXPENSES 92, % 91, % 84, % (28,465) -54.0% (25,711) -58.3% (29,040) -61.9% DEPARTMENTAL PROFIT/(LOSS) (134,879) -17.3% (144,012) -18.2% (150,784) -20.0% 11

14 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. HELM CLUB RESTAURANT DEPARTMENTAL PROFIT & LOSS June 30, 2017 M-T-D M-T-D M-T-D Y-T-D Y-T-D Y-T-D ACTUAL BUDGET LAST YEAR ACTUAL BUDGET LAST YEAR REVENUE FOOD REVENUE 0 0.0% 0 0.0% 0 0.0% Compass Rose 181, % 170, % 162, % 3, % 9, % 4, % Banquet 310, % 306, % 282, % 0 0.0% 0 0.0% 0 0.0% Beverage Cart 0 0.0% 0 0.0% 0 0.0% 3, % 9, % 4, % TOTAL FOOD REVENUE 491, % 476, % 444, % BEVERAGE REVENUE 0 0.0% 0 0.0% 0 0.0% Compass Rose 112, % 99, % 97, % 1, % 2, % % Banquet 105, % 91, % 89, % 1, % 2, % % TOTAL BEVERAGE REVENUE 217, % 190, % 186, % OTHER REVENUE 3, % 3, % 3, % Helm Club Dining Dues 31, % 33, % 32, % 1, % % 0 0.0% Miscellaneous 29, % 34, % 28, % 4, % 4, % 3, % TOTAL OTHER REVENUE 61, % 68, % 61, % 9, % 17, % 8, % TOTAL FOOD & BEVERAGE REVENUE 771, % 735, % 692, % COST OF SALES 1, % 4, % 1, % Food Cost of Sales 169, % 204, % 194, % % % % Beverage Cost of Sales 64, % 61, % 60, % 1, % 5, % 2, % TOTAL COST OF SALES 233, % 266, % 254, % WAGES & BENEFITS 6, % 7, % 7, % Salaries & Wages - Dining Room 175, % 164, % 163, % 6, % 6, % 5, % Salaries & Wages - Kitchen 156, % 171, % 154, % 1, % 2, % 2, % Payroll Burden 61, % 57, % 56, % % % % Employee Meals 13, % 10, % 9, % % 3, % 1, % Group Insurance 9, % 28, % 24, % 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% % 1, % 1, % Vacation/Holiday 5, % 9, % 11, % % % % 401(k) Program 1, % 2, % 2, % 0 0.0% % 0 0.0% Miscellaneous 1, % % % 17, % 20, % 19, % TOTAL WAGES & BENEFITS 425, % 444, % 423, % OTHER EXPENSES 0 0.0% 0 0.0% 0 0.0% Advertising - Help Wanted % % % 0 0.0% 0 0.0% % Banquet Supplies 2, % 3, % 2, % % % % Cable TV 1, % 2, % 1, % 0 0.0% 0 0.0% 0 0.0% Cash ( Over ) / Short 0 0.0% 0 0.0% (5) 0.0% 0 0.0% 0 0.0% 0 0.0% China/Glass/Silverware 2, % 4, % 2, % 0 0.0% % 0 0.0% Cleaning Supplies 4, % 7, % 5, % 0 0.0% 0 0.0% 0 0.0% Contract Labor % % 1, % % % % Credit Card Discounts Fees 5, % 4, % 3, % 0 0.0% 0 0.0% % Decorations 6, % 6, % 5, % 0 0.0% 0 0.0% % Dues & Subscriptions 1, % 1, % % % 0 0.0% 0 0.0% Equipment Rental 8, % 10, % 10, % 0 0.0% 0 0.0% 0 0.0% Gasoline & Oil % 0 0.0% % 0 0.0% % 0 0.0% Kitchen Equipment % % % % % % Laundry & Linen 11, % 13, % 15, % % % % Leased Equipment 6, % 6, % 7, % % % 0 0.0% License & Fees 1, % 1, % % % % % Maintenance Contracts 9, % 10, % 7, % 1, % % % Maintenance & Repairs 11, % 9, % 8, % % % % Marketing & Advertising 1, % 1, % 2, % 0 0.0% 0 0.0% 0 0.0% Menus & Drink List 0 0.0% 0 0.0% 0 0.0% % 0 0.0% 0 0.0% Meals & Entertainment % 0 0.0% % % 0 0.0% 1 0.0% Miscellaneous 6, % 4, % 5, % 0 0.0% 0 0.0% % Music & Entertainment 32, % 34, % 32, % % % % Office Expense 1, % 1, % 1, % % % % Operating Supplies 5, % 7, % 8, % 0 0.0% % % Paper & Plastic 6, % 6, % 5, % 0 0.0% 0 0.0% 0 0.0% Printing 0 0.0% 0 0.0% % % 0 0.0% % Promotions 5, % 4, % 3, % % % % Telephone 3, % 4, % 3, % % % % Travel % % % % 0 0.0% 0 0.0% Uniforms 2, % 3, % 3, % 0 0.0% 0 0.0% 0 0.0% Utensils % 1, % % 5, % 4, % 4, % TOTAL OTHER EXPENSES 143, % 153, % 143, % (15,656) % (13,110) -76.4% (16,613) % DEPARTMENTAL PROFIT/(LOSS) (31,411) -4.1% (128,028) -17.4% (129,265) -18.7% 12

15 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. GOLF OPERATIONS DEPARTMENTAL PROFIT & LOSS June 30, 2017 M-T-D M-T-D M-T-D Y-T-D Y-T-D Y-T-D ACTUAL BUDGET LAST YEAR ACTUAL BUDGET LAST YEAR REVENUE GOLF REVENUE 3, % 3, % 4, % Cart Revenue 107, % 103, % 101, % 0 0.0% 0 0.0% 0 0.0% Locker Revenue 0 0.0% 0 0.0% 0 0.0% % 1, % % Green Fees 32, % 30, % 31, % 1, % 1, % 1, % Golf Merchandise 99, % 104, % 102, % 1, % 1, % 1, % Club Storage 14, % 14, % 14, % 1, % % 1, % Reciprocal 3, % 1, % 5, % % % % Practice Range 17, % 14, % 14, % 0 0.0% 0 0.0% 0 0.0% Summer Golf Memberships 0 0.0% 0 0.0% 0 0.0% % 0 0.0% % Handicaps 7, % 6, % 6, % % % % Pull Cart Rental 3, % 3, % 3, % 0 0.0% 0 0.0% 0 0.0% Miscellaneous Income 4, % 1, % 1, % % % % Miscellaneous Shop Service 1, % 1, % 1, % % % % Lessons 7, % 7, % 8, % 0 0.0% 0 0.0% 0 0.0% Lessons Asst Golf Pro 2, % 1, % 1, % % % 0 0.0% Club Repair % % % 9, % 8, % 9, % TOTAL GOLF REVENUE 302, % 293, % 295, % COST OF SALES 1, % 1, % 1, % Golf Merchandise COS 57, % 72, % 69, % % % % Golf Merchandise Freight COS 3, % 2, % 2, % % (18) 1.0% % Golf Merchandise Discounts COS % (1,040) 1.0% % 1, % 1, % 1, % TOTAL COST OF SALES 61, % 75, % 71, % WAGES & BENEFITS 10, % 12, % 10, % Salaries & Wages 158, % 165, % 150, % % % % Commissions/Lessons 18, % 16, % 17, % 1, % 1, % 1, % Payroll Burden 25, % 24, % 24, % 0 0.0% 0 0.0% 0 0.0% Employee Meals 0 0.0% 0 0.0% 0 0.0% % % % Group Insurance 4, % 6, % 5, % 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% % 0 0.0% % Vacation/Holiday 3, % 2, % 3, % 1 0.0% % 0 0.0% 401(k) Program % % 0 0.0% 0 0.0% % 0 0.0% Miscellaneous % % % 14, % 15, % 14, % TOTAL WAGES & BENEFITS 211, % 216, % 201, % OTHER EXPENSES 0 0.0% 0 0.0% 0 0.0% Advertising - Help Wanted 0 0.0% 0 0.0% % % % % Cable TV % % % 0 0.0% 0 0.0% 0 0.0% Cash ( Over ) / Short % 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Cleaning Supplies 0 0.0% % 0 0.0% % % % Credit Card Discount Fees 2, % 2, % 2, % 0 0.0% 0 0.0% 0 0.0% Decorations % % % 0 0.0% 0 0.0% 0 0.0% Donations 0 0.0% 0 0.0% 0 0.0% % % % Dues & Subscriptions 1, % % % 0 0.0% 0 0.0% 0 0.0% Laundry & Linen 0 0.0% 0 0.0% 0 0.0% 1, % 3, % 3, % Leased Equipment 33, % 32, % 31, % % % % Maintenance Contracts 7, % 7, % 6, % 0 0.0% % 0 0.0% Maintenance & Repairs % 1, % % 0 0.0% 0 0.0% 0 0.0% Meals & Entertainment % % 0 0.0% 0 0.0% 0 0.0% 0 0.0% Miscellaneous % 0 0.0% 5 0.0% % 0 0.0% 0 0.0% Office Expense 1, % 1, % 1, % % % 0 0.0% Operating Supplies 1, % 2, % 1, % % 0 0.0% % Paper Products/Water 1, % 1, % 1, % 0 0.0% 0 0.0% 0 0.0% Pest Control 0 0.0% 0 0.0% 0 0.0% % 0 0.0% 0 0.0% Postage % 0 0.0% 0 0.0% 0 0.0% % 0 0.0% Practice Range % % % 0 0.0% 0 0.0% 0 0.0% Printing 0 0.0% 0 0.0% % % % % Promotions 2, % 1, % 1, % 0 0.0% 0 0.0% 0 0.0% Scorecard & Pencils 1, % 1, % 1, % 0 0.0% 0 0.0% 0 0.0% Small Tools 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Tees & Towels 0 0.0% 0 0.0% % % % % Telephone 3, % 2, % 2, % 0 0.0% % 0 0.0% Travel % 1, % % % 0 0.0% % Uniforms 1, % 1, % % 3, % 6, % 5, % TOTAL OTHER EXPENSES 60, % 59, % 56, % (9,502) -97.6% (13,731) % (12,215) % DEPARTMENTAL PROFIT/(LOSS) (30,939) -10.2% (58,342) -19.9% (34,018) -11.5% 13

16 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. TENNIS DEPARTMENTAL PROFIT & LOSS June 30, 2017 M-T-D M-T-D M-T-D Y-T-D Y-T-D Y-T-D ACTUAL BUDGET LAST YEAR ACTUAL BUDGET LAST YEAR REVENUE TENNIS REVENUE % % % Tennis Guest Fees 3, % 4, % 3, % 4, % 5, % 4, % Tennis Merchandise 69, % 66, % 62, % - 0.0% - 0.0% - 0.0% Tennis Miscellaneous 1, % - 0.0% 1, % 2, % 2, % 2, % Dues - Single 25, % 25, % 25, % 1, % 1, % 1, % Dues - Family 9, % 9, % 10, % - 0.0% - 0.0% - 0.0% Tennis Member Events 4, % 7, % 7, % - 0.0% - 0.0% - 0.0% Tennis Open Events 2, % 3, % 3, % % % % Tennis Ball Machine 1, % 2, % 2, % % 5, % 11, % Tennis Camp 18, % 11, % 25, % % 5, % % Tennis Lessons 68, % 64, % 64, % % % % Tennis Stringing 3, % 3, % 2, % - 0.0% - 0.0% - 0.0% Florida Open - 0.0% - 0.0% 24, % 9, % 20, % 21, % TOTAL TENNIS REVENUE 208, % 197, % 233, % COST OF SALES 4, % 3, % 3, % Cost of Sales - Tennis Merchandise 55, % 50, % 46, % % % % Cost of Sales - Freight 1, % 1, % 1, % % (100) 2.0% % Cost of Sales - Discounts % (1,320) 2.0% % 4, % 4, % 3, % TOTAL COST OF SALES 56, % 52, % 47, % WAGES & BENEFITS 9, % 15, % 13, % Salaries & Wages 144, % 146, % 128, % % 4, % 3, % Commissions/Lessons 56, % 62, % 56, % - 0.0% - 0.0% - 0.0% Tennis Camp Wages - 0.0% - 0.0% - 0.0% 1, % 2, % 3, % Payroll Burden 28, % 23, % 27, % - 0.0% - 0.0% - 0.0% Employee Meals - 0.0% - 0.0% % % 1, % 1, % Group Insurance 7, % 9, % 9, % - 0.0% - 0.0% - 0.0% Bonus - 0.0% - 0.0% - 0.0% % % % Vacation/Holiday 3, % 7, % 5, % - 0.0% - 0.0% - 0.0% 401(k) Program - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% Miscellaneous % - 0.0% % 12, % 24, % 21, % TOTAL WAGES & BENEFITS 240, % 250, % 228, % OTHER EXPENSES - 0.0% - 0.0% - 0.0% Advertising - Help Wanted % - 0.0% % % % % Cable TV % % % - 0.0% - 0.0% - 0.0% Cash ( Over ) / Short - 0.0% - 0.0% - 0.0% % - 0.0% - 0.0% Clay Tennis 2, % 3, % 3, % - 0.0% - 0.0% - 0.0% Cleaning Supplies - 0.0% % - 0.0% % - 0.0% - 0.0% Contract Labor 18, % - 0.0% 8, % % % % Credit Card Discount Fees 1, % 1, % 1, % - 0.0% - 0.0% - 0.0% Decorations - 0.0% % % - 0.0% - 0.0% - 0.0% Dues & Subscriptions % % % - 0.0% - 0.0% 5, % Florida Open Expense - 0.0% - 0.0% 21, % - 0.0% - 0.0% - 0.0% Grounds & Courts % 1, % % % % % Leased Equipment 2, % 2, % 3, % % % % Maintenance Contracts 2, % 2, % 1, % - 0.0% % % Maintenance & Repairs 7, % 5, % 7, % - 0.0% - 0.0% - 0.0% Marketing & Advertising % 1, % % % % - 0.0% Meals & Entertainment % % 6 0.0% - 0.0% - 0.0% - 0.0% Tennis Member Events % 4, % 2, % - 0.0% - 0.0% - 0.0% Tennis Open Events 6, % 5, % 8, % 6 0.1% - 0.0% % Miscellaneous 2, % - 0.0% 2, % - 0.0% % - 0.0% Office Expense % % 1, % % % % Operating Supplies 11, % 6, % 3, % - 0.0% % - 0.0% Postage % % % - 0.0% - 0.0% - 0.0% Printing - 0.0% % - 0.0% % % - 0.0% Promotions 2, % 1, % 3, % - 0.0% - 0.0% - 0.0% Small Tools 1, % 1, % 1, % % - 0.0% - 0.0% Stringing Fees 3, % - 0.0% 3, % % % % Telephone 4, % 3, % 3, % - 0.0% 1, % 2, % Tennis Camp 4, % 7, % 13, % - 0.0% - 0.0% - 0.0% Travel % 1, % (75) 0.0% % - 0.0% - 0.0% Uniforms % 1, % % 3, % 3, % 11, % TOTAL OTHER EXPENSES 75, % 54, % 94, % (10,689) % (12,206) -61.0% (15,034) -70.8% DEPARTMENTAL PROFIT/(LOSS) (163,136) -78.1% (160,679) -81.5% (137,234) -58.8% 14

17 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. MARINA DEPARTMENTAL PROFIT & LOSS June 30, 2017 M-T-D M-T-D M-T-D Y-T-D Y-T-D Y-T-D ACTUAL BUDGET LAST YEAR ACTUAL BUDGET LAST YEAR REVENUE MARINA REVENUE 7, % 13, % 6, % Marina Merchandise/Services 223, % 164, % 193, % 63, % 63, % 61, % Marina Gas Sales 756, % 703, % 649, % 3, % 7, % 7, % Marina Diesel Sales 70, % 59, % 60, % 2, % 2, % 4, % Marina Boat Servicing ( In House ) 18, % 17, % 18, % 35, % 45, % 53, % Marina Boat Servicing ( Subcontractor ) 424, % 451, % 561, % 0 0.0% 0 0.0% 0 0.0% Marina Dock Hook Up % 0 0.0% % 0 0.0% 0 0.0% 0 0.0% Marina Dock On Rental 0 0.0% % 0 0.0% 2, % 2, % 2, % Marina Electric Cord Charge 25, % 25, % 24, % % % % Marina Boat Rental 15, % 17, % 11, % 3, % 2, % 3, % Marina Boat Storage 30, % 25, % 29, % % % % Marina Ramp Fees 7, % 7, % 6, % % 0 0.0% 0 0.0% Marina Miscellaneous Income 1, % 0 0.0% % 119, % 137, % 141, % TOTAL MARINA REVENUE 1,573, % 1,471, % 1,555, % COST OF SALES 4, % 9, % 3, % Merchandise/Service 162, % 114, % 139, % 51, % 54, % 52, % Gasoline 625, % 604, % 531, % 2, % 5, % 5, % Diesel 51, % 45, % 41, % % % % Fuel Use Tax Diesel 3, % 2, % 2, % 29, % 37, % 46, % Subcontractor Work 361, % 378, % 479, % 0 0.0% 0 0.0% 0 0.0% Rental Boat Expense 0 0.0% 0 0.0% 0 0.0% 88, % 107, % 108, % TOTAL COST OF SALES 1,204, % 1,146, % 1,194, % WAGES & BENEFITS 12, % 12, % 11, % Salaries & Wages 107, % 112, % 105, % 3, % 4, % 4, % Commissions 48, % 40, % 47, % 2, % 2, % 2, % Payroll Burden 26, % 23, % 25, % 0 0.0% % 0 0.0% Employee Meals 0 0.0% % 0 0.0% % % 1, % Group Insurance 8, % 8, % 8, % 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% % % % Vacation/Holiday 6, % 6, % 7, % 0 0.0% % 0 0.0% 401(k) Program 0 0.0% % 0 0.0% 0 0.0% % % Miscellaneous 0 0.0% % % 20, % 19, % 20, % TOTAL WAGES & BENEFITS 197, % 191, % 194, % OTHER EXPENSES % % % Cable TV % % % 0 0.0% 0 0.0% 0 0.0% Cash (over) / Short (66) 0.0% 0 0.0% % % % % Cleaning Supplies % % 2, % 1, % 2, % 1, % Credit Card Discount Fees 23, % 18, % 20, % 0 0.0% 0 0.0% 0 0.0% Decoration 0 0.0% % 0 0.0% 0 0.0% 0 0.0% 0 0.0% Dues & Subscriptions % % % 2, % 3, % 2, % Electric - Boat Docks 17, % 24, % 18, % % % % Gasoline & Oil % 1, % % 0 0.0% % 0 0.0% Grounds, Parking & Docks 0 0.0% % 0 0.0% % % % Leased Equipment 3, % 3, % 3, % 0 0.0% 0 0.0% % Licenses & Fees % % % % % % Maintenance Contracts 1, % 1, % 1, % 0 0.0% % % Maintenance & Repairs 2, % 3, % 3, % % % % Meals & Entertainment % % % 0 0.0% 0 0.0% 0 0.0% Miscellaneous 0 0.0% 0 0.0% % 0 0.0% % 0 0.0% Office Expense % % % % % % Operating Supplies 2, % 4, % 3, % 0 0.0% 0 0.0% 0 0.0% Pest Control 0 0.0% 0 0.0% 0 0.0% 0 0.0% 5 0.0% 0 0.0% Postage 0 0.0% % % 0 0.0% 0 0.0% 0 0.0% Printing 0 0.0% % % 0 0.0% % 0 0.0% Promotions 0 0.0% % 0 0.0% 0 0.0% 0 0.0% 0 0.0% Security Systems 0 0.0% 0 0.0% 0 0.0% 0 0.0% % 0 0.0% Small Tools % % % % % % Telephone 3, % 2, % 3, % 0 0.0% 0 0.0% % Uniforms 1, % % % % 1, % % Utilities - Electric 6, % 7, % 6, % % % % Utilities - Trash Removal 1, % 2, % 1, % 7, % 8, % 6, % TOTAL OTHER EXPENSES 69, % 75, % 68, % 2, % 1, % 6, % DEPARTMENTAL PROFIT/(LOSS) 102, % 58, % 98, % 15

18 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. MISCELLANEOUS DEPARTMENTAL PROFIT & LOSS June 30, 2017 M-T-D M-T-D M-T-D Y-T-D Y-T-D Y-T-D ACTUAL BUDGET LAST YEAR ACTUAL BUDGET LAST YEAR MISCELLANEOUS REVENUE 66, % 66, % 66, % Dues - Debt Financing 598, % 596, % 598, % 1, % % % Dues - Pool Membership 8, % 7, % 8, % % 1, % 2, % Finance Charges 5, % 15, % 14, % 0 0.0% 0 0.0% 0 0.0% Interest Income 0 0.0% 0 0.0% 0 0.0% 2, % 2, % 2, % Realty Office Rent 24, % 24, % 24, % 1, % 1, % % Lease Processing Fee 49, % 45, % 45, % 0 0.0% % 7 0.0% Miscellaneous Income - Transmitters % % % 1, % % % Miscellaneous Income 5, % 3, % 3, % 335, % 335, % 331, % Dues - Operating 3,034, % 3,021, % 2,963, % 0 0.0% 0 0.0% 0 0.0% Owner Fees - Discounts (120) 0.0% 0 0.0% (120) 0.0% 1, % % % Owner Transfers Fees 7, % 7, % 8, % 0 0.0% 0 0.0% 0 0.0% Riverside Memberships 0 0.1% 0 0.0% 0 0.1% 0 0.0% 0 0.0% 0 0.0% Riverside Annual 25, % 25, % 25, % 410, % 409, % 405, % TOTAL MISCELLANEOUS REVENUE 3,758, % 3,747, % 3,693, % 16

19 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. ADMINISTRATION & GENERAL DEPARTMENTAL PROFIT & LOSS June 30, 2017 M-T-D M-T-D M-T-D Y-T-D Y-T-D Y-T-D ACTUAL BUDGET LAST YEAR ACTUAL BUDGET LAST YEAR WAGES & BENEFITS 31, % 32, % 32, % Salaries & Wages 292, % 292, % 287, % 4, % 4, % 4, % Payroll Burden 38, % 40, % 41, % 1, % 2, % 2, % Group Insurance 15, % 20, % 20, % 3, % 3, % 1, % Bonus 29, % 29, % 35, % 1, % 1, % 2, % Vacation/Holiday 9, % 13, % 16, % % % % Miscellaneous % 1, % 1, % 42, % 44, % 42, % TOTAL WAGES & BENEFITS 385, % 397, % 403, % OTHER EXPENSES 0 0.0% 0 0.0% 2, % Audit/Tax Prep 35, % 34, % 35, % % 0 0.0% 0 0.0% Advertising - Help Wanted % 0 0.0% % 6, % 6, % 6, % Accounting Fees 55, % 55, % 57, % 1, % 1, % 1, % Bad Debt 13, % 13, % 13, % 1, % % % Bank Fees 7, % 9, % 6, % % % % Cable TV 2, % 2, % 2, % (0) 0.0% 0 0.0% % Cash (Over) / Short % 0 0.0% 2 0.0% % % 1, % Credit Card Discount Fees 4, % 4, % 5, % 0 0.0% 0 0.0% 0 0.0% Decorations 1, % 1, % 0 0.0% 0 0.0% 0 0.0% 0 0.0% Donations 0 0.0% 0 0.0% 0 0.0% % % % Dues & Subscriptions 1, % 2, % 1, % 1, % 1, % % Leased Equipment 10, % 12, % 12, % 3, % 1, % 1, % Legal Fees 17, % 17, % 20, % 2, % % % Licence & Fees 3, % 3, % 4, % 1, % 1, % 1, % Maintenance Contracts 16, % 13, % 15, % 0 0.0% % 1, % Maintenance & Repairs 11, % 5, % 4, % % % % Meals & Entertainment 13, % 8, % 8, % 0 0.0% 0 0.0% 0 0.0% Member Relations 5, % 3, % 3, % % % % Miscellaneous 2, % % 2, % 1, % 1, % 3, % Office Expense 18, % 18, % 22, % 0 0.0% % 0 0.0% Operating Supplies % 1, % % 0 0.0% 0 0.0% 0 0.0% Pest Control 0 0.0% 0 0.0% 0 0.0% 1, % 1, % 1, % Postage 12, % 10, % 12, % 1, % % 5, % Printing 3, % 4, % 9, % 0 0.0% % % Promotions % 2, % 1, % % % 1, % Storage 7, % 4, % 6, % % % 1, % Telephone 9, % 8, % 9, % 0 0.0% 0 0.0% 0 0.0% Training 0 0.0% 0 0.0% 0 0.0% 0 0.0% % % Travel Expense % 1, % 1, % 0 0.0% % 0 0.0% Uniforms % % % 24, % 20, % 30, % TOTAL OTHER EXPENSES 255, % 240, % 258, % 67, % 64, % 73, % DEPARTMENTAL EXPENSE 641, % 638, % 662, % 17