The Landings Yacht Golf & Tennis Club, Inc.

Transcription

1 The Landings Yacht Golf & Tennis Club, Inc. For Fiscal Period 7 Ending

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 Page 22 Cash Flow Report Page 23 Incidental Information Pages Employee Count Page 26 Reserve Expenditure Analysis Page Delinquent Accounts Pages 29-34

3 Financial Overview April 2012 Summary: For the current period ending, revenue was $808,702 versus a budget of $771,311, a positive variance of $37,391. The departments that were under budget revenues for the current month were Food & Beverage Department by $16,727, Golf Department by $225 and the Tennis Department by $6,649. The departments that were over budgeted revenues were the Marina Department by $59,009 and the Miscellaneous Department by $1,983. The departments that met or exceeded their monthly budgeted profit or loss was the Food & Beverage Department by $2,672, Golf Department by $790 and the Marina Department by $13,771. The Tennis Department did not meet their budgeted profit or loss by $5,309. In the Tennis Department there was a drop in tennis lessons and merchandise sales. The Profit Before Depreciation / Amortization / Interest for April 2012 is $122,316 versus a budget of $112,461, a positive variance of $9,855. Year to Date revenue was $5,226,514 versus a budget of $4,996,054, a positive variance of $230,460. Year to Date Profit Before Depreciation / Amortization / Interest was $512,879 versus a budget of $539,064, a negative variance of $26,185, an improvement over last month by $9,855. The Association ended the period with Cash Funds of $2,313,316 which $338,525 was uncommitted and $1,974,791 was committed. In the same month end last year the Cash Funds available were $3,104,501 which $635,564 were uncommitted and $2,468,937 were committed. That is a decrease over last year by $297,039 for uncommitted and a decrease over last year by $494,146 for committed respectively. The decrease in committed funds is due to current spending on capital projects. The decrease in uncommitted funds due to last years surplus not transferred to reverses yet. For the current period ending April 2012, there were 7 closings that generated $35,000 in Capital Contribution Funds into the Capital Contribution Bank Account. Year to Date there was 27 closings that generated $135,000 in Capital Contribution Funds into the Capital Contribution Bank Account

4 Food & Beverage Department: Food and Beverage Year to Date Revenues is over budget by $4,485 and over last year actual by $74,106. The Year to Date Food Banquet Revenues for members was $138,886 and for non members was $55,400 or 71.5% and 28.5% respectively. The Year to Date Beverage Banquet Revenues for members was $41,651 and for non members $6,098 or 87.2% and 12.8% respectively. Year to Date Food Cost was 42.3% compared to a budget of 41.2% and Year to Date Beverage Cost was 31.9% compared to a budget of 29.2% which represents overage for Food Cost of 1.1% and Beverage Cost overage of 2.7%. The increase in food and beverage cost is due to a higher mix in member banquets versus non member banquets at a high cost of goods sold. Also we are seeing spikes in food and beverage cost due to the cost of gasoline prices and hopefully when they start to go down it will improve. We are reviewing all bids and comparing prices from multiple vendors to try and get the best cost of products. The beverage cost increase is also due to a larger percentage of sales during happy hour in the Helm Club when drink prices are reduced which should stop with the off season. Year to Date Wages and Benefits were $8,377 under budget and under on budget percentage of 71.7% by 1.2% due to the increased revenues of $4,485 and due to staffing levels for anticipated member usage. Year to Date Other Expenses was under budget in total by $15,909 and was under budget percentage by 1.6% and was under Last Year to Date by $23,029. The Year to Date Department Loss was under by $9,406 to budget and under budgeted percentage by 1.1% even though there were increased cost in food and beverage cost of goods sold. Golf Department: The Year to Date Revenues were over budget by $16,193 and over last year by $21,893. The only line item that was under budget was Green Fees. A much warmer and drier first quarter and part of the second quarter of 2012 produced increased sales over budget and last year. The Year to Date cost of goods sold is over by 1.4% due to sales starting to get rid of old stock. Year to Date Wages and Benefits were over budget by $1,114 mainly due to staffing to meet increased sales but under budget percentage by 3.6%. Year to Date Other Expenses was under budget by $5,325 or 3.6%. The only area of note was addition supplies purchased for the practice range and still keeping the entire other expenses under the budget

5 Tennis Department: Year to Date Revenues were under budget by $15,560 due to decreased tennis lessons, leagues memberships, merchandise sales, guest fees and tennis stringing services. Year to Date Cost of goods sold is over budgeted percentage at 3.2% because department moved a lot of inventory at sale prices to move old stock and some inventory adjustments. Year to Date Wages and Benefits were under budget by $4,849 due to open positions within the department that now have been filled. Year to Date Other Expenses were over budget by 6,181 mainly due to increased tennis camp expense of $2,722, travel expense for $3,273, operating supplies for $2,593 promotions for $2,915 and clay expense of $480 and all were needed either to service the tennis camps or keep the courts in top shape. The travel expense was expenses associated with travel for interviewing directors for the open position. As for promotions, the department ran a fashion show with the hope of promoting increased sales in the future. Also, prizes or amenities were purchased for the tennis teams as is standard in other clubs. Otherwise all other areas were in line to budget. Marina Department: Year to Date Revenues were over budget by $216,878 The revenue areas under budget were Marina Boat Servicing (In House), Marina Dock on Rental Sales, Marina Electric Charge and Ramp Fees. The revenue areas over budget for the period were Marina Merchandise/Service, Diesel Sales, Gasoline Sales, Subcontractor Marina Boat Servicing, Boat Storage and Marina Boat Rental. Year to Date Cost of Goods Sold was over by 2.5% due to mark ups on different type of Subcontractor Boat Servicing work done instead of type of work budgeted. All other areas of Cost of Goods Sold were under the budgeted percentage. Year to Date Wages and Benefits were under budget by $16,336 due to savings in staffing to budget and payroll burden. The department has two employees currently and is budgeted for three full time employees plus a part time employee. A third employee was hired this month. Year to Date Other Expenses was under by $4,036 or 1.1% to budget and over last year by $518 but under budgeted percentage by 0.3%. Administrative & General Department: Year to Date Wages and Benefits are under budget by $9,872 due open positions during the year and savings in payroll burden

6 Other Operating Expenses Year to Date of note are: Actual Budget Variance Credit Card Discount Fees $28,226 $20,050 $8,176 Over budget due to increased usage of credit cards for payments of products, particularly in the Marina with sales of gas and diesel from boaters not members and our price being the most competitive on the river to promote increased sales. Also we are seeing an increase usage in social Helm Club members in which are using credit cards when eating or drinking in the restaurants. Legal Fees $38,717 $18,648 $20,069 Legal fees in connection with club business needing legal opinions. Office Expense $14,153 $7,393 $6,760 Items needed to service the members and extra expense in supplies needed for increased member needs. Under last year by $1,353 and will be looked at in the new budgeting procedure. Community Patrol Department: Year to Date Wages and Benefits were over to budget by $2,697 but under budget percentage by 0.1% due to increased property sales as a total. Year to Date Other Expenses for the department, they are under budget by $4,446 due to savings in gasoline & oil, leased equipment, maintenance & repairs, office expense, telephone, golf cart repairs, gate maintenance and uniforms. Golf Course Maintenance Department: Year to Date Wages and Benefits were under budget by $3,851 due to saving staffing levels. Other Operating Expenses Year to Date of note is: Actual Budget Variance Contract Labor $11,210 $9,500 $1,710 Due to replacement sod and flowers/tree plantings. This line item should come in line in upcoming months. Operating Supplies $18,451 $13,350 $5,

7 Operating supplies needed for properly operating the department to service the golf course. This line item has expenses related to new water coolers, paint for markers, replacement of putting cups and replacement of American flag for the course. Property Maintenance Department: Year to Date Wages and Benefits are over budget $13,369 due to the approved budget merging the pool technician into maintenance helper but happened later than budgeted. We still are saving money in the long run because we still do the pool work in house and only purchase chemicals or use Flamingo Pool Service if a major repair needs to be done. With that being said, if we outsourced the pools it would probably cost at least $2,000 per month. In addition, our staff is researching water usage problems and searching for possible leaks causing some overtime in the department. Other Operating Expenses Year to Date of note are: Actual Budget Variance Fitness Center $3,740 $315 $3,425 Items purchased to supply the fitness center for member needs. We are seeing since moving it to its new location and open longer hours and increased usage, more supplies like sanitary wipes are needed. HVAC $6,203 $3,500 $2,703 Over budget for property HVAC repairs and general maintenance. Irrigation Repairs $6,584 $1,750 $4,834 We had a major replacement due to a water line break on the golf course. Also includes repairs to irrigation heads all around the property. Maintenance & Repairs $7,957 $770 $7,187 Un expected expense to the lights at the McGregor entrance ($1,149), garage door repairs ($490), replace Kohler values at the Helm Club restrooms ($1,100) and Installation of new pump ($1,100) plus other projects needed. Operating Supplies $4,363 $700 $3,663 Supplies needed in repairs to service the property. Tree, Shrubs & Flowers $8,189 $5,500 $2,689 Over budget due to replacement pots for pool area and around Wheelhouse, plants at left side of Helm Club and plants around new brick paver at back entrance to pool. Also replacement flowers due to heat

8 Utilities Department: We have accrued all the utility expense to and Year to Date Electric under is budget by $3,377. Year to Date Propane/Gas expense is under by $2,664 due to re pricing the Wheelhouse propane usage for October 2011 to March 2012 to the proper cost. The Year to Date Water expense is over budget by $21,420. We have found and fixed the pool leak in early May which is still contributing to the overage. The reclaimed water invoice from the county was $6,984 which is the highest ever. This high usage in reclaimed water is due to no rain and watering lawn and planting so they do not die. I investigated how the reclaimed water works and the county sends us the water needed to replenish our lake levels determined by meters. The April period as was the same in early months was the driest and 5 th warmest in history causing extreme usage from the lakes. The county needed to refill these lakes. With the recent rain in the past 10 days in May 2012, it should come down hopefully in May but will for sure in the rainy season in June With the pool leak fix and reclaimed water reductions, we hope to come in line with the budget

9 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. BALANCE SHEET Same Month Current Year Previous Month Last Year ASSETS Cash CASH - OPERATING 338, , ,564 CASH - CAPITAL CONTRIBUTION 1,058,428 1,023, ,461 CASH - RESERVE ACCOUNT 680, ,460 1,468,495 CASH - CD BANK OF AMERICA 117, , ,237 CASH - CD BANK OF AMERICA 118, , ,744 Total Cash 2,313,316 2,311,959 3,104,501 Account Receivable ACCOUNTS RECEIVABLE - MEMBER ACCOUNTS 609, , ,469 ACCOUNTS RECEIVABLE - VILLAGES 19,741 49,624 23,782 ACCOUNTS RECEIVABLE - OTHER (864) (958) 91 ALLOWANCE FOR DOUBTFUL ACCOUNTS (118,536) (118,536) (118,536) Total Accounts Receivable 509, , ,806 Inventory INVENTORY - FOOD 19,889 25,867 25,577 INVENTORY - BEVERAGE 34,174 39,071 33,155 INVENTORY - TENNIS 26,374 28,116 24,648 INVENTORY - GOLF 38,996 43,574 40,219 INVENTORY - MARINA 48,440 55,534 49,660 INVENTORY - MARINA FUEL 22,444 14,936 27,722 INVENTORY - OTHER Total Inventory 190, , ,981 Prepaid Expenses PREPAID INSURANCE 202, , ,926 PREPAID OTHER 42,735 46,280 18,017 PREPAID HEALTHCARE 7,492 7,313 18,393 Total Prepaid Expenses 252, , ,336 Fixed Assets PROPERTY & IMPROVEMENTS 4,269,498 4,269,498 4,269,498 BUILDING & IMPROVEMENTS 10,263,206 10,133,968 8,470,015 SITE IMPROVEMENTS 3,027,306 3,027,306 3,027,306 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 CAPITALIZED LOAN FEES 142, , ,644 WIP CLUBHOUSE INFRASTRUCTURE 70,724 70,724 70,724 LESS ACCUMULATED DEPRECIATION (6,307,031) (6,212,268) (5,234,538) Total Net Fixed Assets 18,375,141 18,341,736 17,667,283 Other Assets DEPOSITS - BEVERAGE ESCORW 3,500 3,500 3,500 DEPOSITS 16,739 16,739 16,739 Total Other Assets 20,239 20,240 20,240 Total Assets 21,660,952 21,771,990 21,679,

10 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. BALANCE SHEET Same Month Current Year Previous Month Last Year LIABILITIES AND EQUITY Accounts Payable ACCOUNTS PAYABLE - TRADE 54,506 82,711 58,554 ACCOUNTS PAYABLE - INSURANCE 82, ,062 83,185 ACCOUNTS PAYABLE - SALES TAX 14,688 18,275 13,394 ACCOUNTS PAYABLE - Other 5,815 4,765 8,331 LOAN PAYABLE - BANK OF AMERICA CURRENT 422, , ,464 HCC LOAN PAYABLE - SHORT TERM 283, , ,840 Total Accounts Payable 864, , ,768 Accrued Liabilities ACCRUED OTHER 23,205 35,716 12,052 ACCRUED UTILITIES 15,822 15,562 9,628 ACCRUED PAYROLL 135, , ,654 ACCRUED VACATION 23,931 21,690 23,023 DEPOSITS/SWEEPS/GIFT CERTIFICATES 54,572 58,475 42,108 DEFERRED REVENUE 113, , ,814 Total Accrued Liabilities 366, , ,279 Long Term Liabilities LOAN PAYABLE - BANK OF AMERICA LONG TERM 5,047,469 5,083,965 5,682,723 HCC LOAN PAYABLE - LONG TERM ,451 CAPITAL LEASE - LONG TERM 4,219 4,359 2,349 Total Long Term Liabilities 5,051,688 5,088,324 6,182,522 Funds REPLACEMENT FUND - RIVERSIDE ROAD CONTRIBUTION REPLACEMENT FUND RIVERSIDE - EXPENDITURES REPLACEMENT FUNDS - CONTRIBUTIONS 3,136,166 3,081,740 2,260,468 REPLACEMENT FUNDS - EXPENDITURES (2,648,923) (2,519,685) (868,964) CAPITAL FUND - CONTRIBUTIONS 1,165,623 1,135, ,469 CAPITAL FUND EXPENDITURES HELM CLUB CAPITAL CONTRIBUTIONS 1,226,068 1,226,068 1,018,009 Total Funds 2,878,935 2,923,746 3,222,981 Total Liabilities 9,161,543 9,394,144 10,245,550 Retained Earnings PRIOR YEAR REATINED EARNINGS 12,898,804 12,769,566 11,657,074 CURRENT YEAR PROFIT/(LOSS) (399,394) (391,720) (223,479) Total Retained Earnings 12,499,409 12,377,846 11,433,595 Total Liabilities & Equity 21,660,952 21,771,990 21,679,

11 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. SUMMARY PROFIT & LOSS 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 808, % 771, % 798, % TOTAL REVENUE 5,226, % 4,996, % 5,002, % FOOD & BEVERAGE 134, % 151, % 137, % Total F & B Revenue 986, % 981, % 912, % 97, % 106, % 97, % Wages & Benefits 695, % 703, % 659, % 38, % 40, % 43, % Food Cost Of Sales 283, % 268, % 258, % 12, % 13, % 10, % Beverage Cost Of Sales 90, % 87, % 77, % 13, % 19, % 19, % Other Expenses 126, % 142, % 149, % (27,034) -20.0% (29,706) -19.6% (35,040) -25.5% FOOD & BEVERAGE PROFIT/(LOSS) (210,284) -21.3% (219,690) -22.4% (233,789) -25.6% GOLF OPERATIONS PROFIT/(LOSS) 29, % 29, % 30, % Total Pro Shop Revenue 232, % 215, % 210, % 14, % 15, % 14, % Wages & Benefits 125, % 124, % 118, % 7, % 6, % 7, % Cost Of Sales 48, % 43, % 41, % 4, % 5, % 5, % Other Expenses 35, % 40, % 35, % 3, % 2, % 3, % GOLF OPERATIONS PROFIT/(LOSS) 23, % 7, % 14, % TENNIS OPERATIONS PROFIT/(LOSS) 18, % 25, % 24, % Total Pro Shop Revenue 162, % 178, % 187, % 23, % 25, % 25, % Wages & Benefits 179, % 184, % 181, % 5, % 5, % 6, % Cost Of Sales 38, % 39, % 41, % 5, % 4, % 2, % Other Expenses 34, % 27, % 18, % (15,542) -84.6% (10,233) -40.9% (9,836) -40.5% TENNIS OPERATIONS PROFIT/(LOSS) (89,057) -54.7% (73,792) -41.4% (54,595) -29.2% MARINA OPERATIONS PROFIT/(LOSS) 214, % 155, % 197, % Total Marina Revenue 1,074, % 857, % 932, % 18, % 19, % 16, % Wages & Benefits 117, % 134, % 118, % 172, % 124, % 175, % Cost Of Sales 862, % 659, % 735, % 4, % 5, % 4, % Other Expenses 27, % 31, % 26, % 20, % 6, % 1, % MARINA OPERATIONS PROFIT/(LOSS) 66, % 32, % 52, % 411, % 409, % 408, % TOTAL MISCELLANEOUS INCOME 2,771, % 2,762, % 2,759, % OVERHEAD DEPARTMENTS 59, % 60, % 60, % Administrative & General 500, % 478, % 463, % 24, % 24, % 23, % Community Patrol 174, % 176, % 168, % 52, % 55, % 49, % Golf Course Maintenance 454, % 455, % 434, % 44, % 43, % 37, % Property Maintenance 328, % 290, % 286, % 38, % 30, % 29, % Utilities 222, % 208, % 216, % 221, % 214, % 201, % TOTAL OVERHEAD DEPARTMENT EXPENSE 1,681, % 1,609, % 1,568, % 170, % 164, % 166, % GROSS OPERATING PROFIT/(LOSS) 880, % 900, % 969, % 39, % 39, % 40, % Insurance 271, % 279, % 270, % 0 0.0% 0 0.0% 0 0.0% Insurance Loss Expense 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Taxes Personal Property % 0 0.0% 1, % 0 0.0% 0 0.0% 0 0.0% Taxes Personal Property - Lease 7, % 0 0.0% 4, % 0 0.0% 0 0.0% 0 0.0% Taxes - Income Tax 0 0.0% 0 0.0% 0 0.0% 9, % 10, % 10, % Management Fees 66, % 70, % 70, % 0 0.0% 1, % 0 0.0% Contingency 0 0.0% 11, % 0 0.0% 0 0.0% 0 0.0% 0 0.0% Other Adds & Deducts 22, % 0 0.0% 0 0.0% 122, % 112, % 116, % PROFIT/(LOSS) BEFORE DEP/AMORT/INT 512, % 539, % 622, % 95, % 95, % 82, % Depreciation & Amortization 670, % 670, % 580, % 34, % 36, % 37, % Interest 241, % 259, % 266, % (7,674) -0.9% (19,829) -2.6% (4,395) -0.6% NET INCOME/(LOSS) (399,394) -7.6% (391,260) -7.8% (223,479) -4.5% - 9 -

12 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. COMBINED FOOD & BEVERAGE DEPARTMENTAL PROFIT & LOSS 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 69, % 73, % 66, % Dining Room 468, % 464, % 438, % 22, % 21, % 28, % Banquet 194, % 167, % 178, % 0 0.0% 0 0.0% % Patio 1, % 0 0.0% 4, % 0 0.0% 3, % 0 0.0% Prime Dining 5, % 18, % 0 0.0% 0 0.0% 0 0.0% 0 0.0% Picini Point % 0 0.0% 0 0.0% 91, % 98, % 95, % TOTAL FOOD REVENUE 670, % 651, % 621, % BEVERAGE REVENUE 34, % 40, % 32, % Dining Room 235, % 256, % 221, % 3, % 6, % 4, % Banquet 47, % 37, % 43, % 0 0.0% 0 0.0% % Patio 6 0.0% 0 0.0% % 0 0.0% % 0 0.0% Prime Dining 1, % 3, % 0 0.0% 0 0.0% 0 0.0% 0 0.0% Picini Point 0 0.0% 0 0.0% 0 0.0% 37, % 47, % 37, % TOTAL BEVERAGE REVENUE 285, % 298, % 265, % OTHER REVENUE 3, % 2, % 2, % Helm Club Dues 25, % 14, % 12, % 0 0.0% 0 0.0% 0 0.0% Room Rental 0 0.0% 0 0.0% 0 0.0% 1, % 2, % 2, % Miscellaneous 4, % 17, % 12, % 5, % 5, % 4, % TOTAL OTHER REVENUE 30, % 32, % 25, % 134, % 151, % 137, % TOTAL FOOD & BEVERAGE REVENUE 986, % 981, % 912, % COST OF SALES 38, % 40, % 43, % Food Cost of Sales 283, % 268, % 258, % 12, % 13, % 10, % Beverage Cost of Sales 90, % 87, % 77, % 50, % 54, % 54, % TOTAL COST OF SALES 374, % 355, % 336, % WAGES & BENEFITS 39, % 42, % 38, % Salaries & Wages - Dining Room 274, % 270, % 248, % 34, % 38, % 35, % Salaries & Wages - Kitchen 235, % 258, % 240, % 13, % 15, % 14, % Payroll Burden 103, % 108, % 99, % 2, % 2, % 3, % Employee Meals 19, % 18, % 20, % 5, % 4, % 5, % Group Insurance 37, % 31, % 37, % 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% 1, % 1, % % Vacation/Holiday 17, % 12, % 9, % % % 0 0.0% 401(k) Program 2, % 1, % 1, % % % % Miscellaneous 5, % 1, % 2, % 97, % 106, % 97, % TOTAL WAGES & BENEFITS 695, % 703, % 659, % OTHER EXPENSES 0 0.0% 0 0.0% 0 0.0% Advertising - Help Wanted 0 0.0% 0 0.0% 0 0.0% 0 0.0% % % Banquet Supplies (142) 0.0% 1, % 3, % % % % Cable TV 4, % 3, % 4, % 0 0.0% 0 0.0% 0 0.0% Cash ( Over ) / Short 0 0.0% 0 0.0% 0 0.0% 0 0.0% % % China/Glass/Silverware 1, % 2, % 1, % 1, % 1, % 2, % Cleaning Supplies 15, % 9, % 8, % 0 0.0% 0 0.0% % Contract Labor % % 1, % % % % Decorations 3, % 5, % 5, % % % 0 0.0% Dues & Subscriptions % % 0 0.0% 0 0.0% % 0 0.0% Equipment Rental % 1, % % 0 0.0% % 0 0.0% Kitchen Equipment % % 1, % 1, % 4, % 4, % Laundry & Linen 20, % 31, % 30, % % % % Leased Equipment 4, % 5, % 4, % 0 0.0% % 0 0.0% License & Fees 1, % 3, % 1, % 1, % 1, % 1, % Maintenance Contracts 9, % 7, % 9, % 1, % 2, % 1, % Maintenance & Repairs 11, % 13, % 21, % 0 0.0% % 0 0.0% Marketing & Advertising 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 0 0.0% % % 1, % 2, % 1, % Music & Entertainment 23, % 20, % 18, % 0 0.0% % 0 0.0% Office Expense 1, % 2, % 1, % % 1, % % Operating Supplies 3, % 7, % 12, % 1, % 1, % 1, % Paper & Plastic 11, % 10, % 8, % 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% Postage 0 0.0% % 0 0.0% 0 0.0% 0 0.0% 0 0.0% Printing % % % 1, % % % Promotions 5, % 3, % 3, % 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% 0 0.0% Small Tools 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Table & Bar Supplies 0 0.0% 0 0.0% 0 0.0% % % % Telephone 5, % 4, % 5, % 0 0.0% % % Travel % % % % % % Uniforms 1, % 3, % 3, % 0 0.0% % 0 0.0% Utensils % 1, % 0 0.0% 13, % 19, % 19, % TOTAL OTHER EXPENSES 126, % 142, % 149, % (27,034) -20.0% (29,706) -19.6% (35,040) -25.5% DEPARTMENTAL PROFIT/(LOSS) (210,284) -21.3% (219,690) -22.4% (233,789) -25.6%

13 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. WHEELHOUSE RESTAURANT DEPARTMENTAL PROFIT & LOSS 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 54, % 57, % 54, % Dining Room 374, % 370, % 355, % 0 0.0% 0 0.0% % Banquet 1, % 2, % 2, % 0 0.0% 0 0.0% % Patio 1, % 0 0.0% 4, % 0 0.0% 0 0.0% 0 0.0% Picinc Point % 0 0.0% 0 0.0% 54, % 57, % 55, % TOTAL FOOD REVENUE 378, % 373, % 361, % BEVERAGE REVENUE 24, % 27, % 25, % Dining Room 175, % 174, % 154, % 0 0.0% 0 0.0% 0 0.0% Banquet % 0 0.0% 0 0.0% 0 00% 0.0% 0 00% 0.0% 52 01% 0.1% Patio 6 00% 0.0% 0 00% 0.0% % 0.1% 0 0.0% 0 0.0% 0 0.0% Picnic Point 0 0.0% 0 0.0% 0 0.0% 24, % 27, % 25, % TOTAL BEVERAGE REVENUE 176, % 174, % 154, % OTHER REVENUE 0 0.0% 0 0.0% 0 0.0% Dining Dues 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Room Rental 0 0.0% 0 0.0% 0 0.0% 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% 79, % 85, % 81, % TOTAL FOOD & BEVERAGE REVENUE 554, % 547, % 516, % COST OF SALES 23, % 24, % 28, % Food Cost of Sales 160, % 156, % 157, % 7, % 8, % 7, % Beverage Cost of Sales 55, % 52, % 47, % 31, % 32, % 35, % TOTAL COST OF SALES 216, % 209, % 204, % WAGES & BENEFITS 25, % 25, % 23, % Salaries & Wages - Dining Room 174, % 160, % 166, % 20, % 22, % 19, % Salaries & Wages - Kitchen 130, % 150, % 148, % 8, % 9, % 8, % Payroll Burden 66, % 65, % 68, % 1, % 1, % 1, % Employee Meals 11, % 12, % 14, % 4, % 4, % 4, % Group Insurance 29, % 28, % 33, % 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% 1, % 1, % % Vacation/Holiday 9, % 8, % 7, % % % 0 0.0% 401(k) Program 1, % 1, % 1, % % % % Miscellaneous 3, % % 1, % 61, % 64, % 57, % TOTAL WAGES & BENEFITS 426, % 427, % 442, % OTHER EXPENSES 0 0.0% 0 0.0% 0 0.0% Advertising - Help Wanted 0 0.0% 0 0.0% 0 0.0% 0 0.0% % 0 0.0% Banquet Supplies 0 0.0% % % % 0.8% % 0.4% % 0.7% Cable TV 3, % 0.6% 2,900 05% 0.5% 3,140 06% 0.6% 0 0.0% % 0 0.0% China/Glass/Silverware % 1, % % % % 1, % Cleaning Supplies 8, % 3, % 4, % 0 0.0% 0 0.0% 0 0.0% Contract Labor % % % 0 0.0% % 0 0.0% Decorations % % % 0 0.0% 0 0.0% 0 0.0% Dues & Subscriptions 0 0.0% 0 0.0% 0 0.0% 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% Kitchen Equipment % % % 1, % 1, % 2, % Laundry & Linen 9, % 15, % 17, % % % % Leased Equipment % 1, % % 0 0.0% % 0 0.0% License & Fees % 2, % % % % % Maintenance Contracts t 5, % 4, % 4, % % 1, % % Maintenance & Repairs 4, % 6, % 9, % 0 0.0% 0 0.0% 0 0.0% Marketing & Advertising 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% % Miscellaneous 0 0.0% % % 1, % 1, % 1, % Music & Entertainment 11, % 10, % 9, % 0 0.0% % 0 0.0% Office Expense % 1, % % % % % Operating Supplies 2, % 4, % 7, % % % % Paper & Plastic 7, % 4, % 4, % 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% Postage 0 0.0% % 0 0.0% 0 0.0% 0 0.0% 0 0.0% Printing % % % % % % Promotions 2, % 2, % 2, % 0 0.0% 0 0.0% 0 0.0% Security Systems 0 0.0% 0 0.0% 0 0.0% % % % Telephone 2, % 1, % 2, % 0 0.0% 0 0.0% % Travel 0 0.0% 0 0.0% 0 0.0% % % % Uniforms % % 3, % 0 0.0% % 0 0.0% Utensils % % 0 0.0% 7, % 8, % 8, % TOTAL OTHER EXPENSES 62, % 66, % 74, % (20,414) -25.7% (20,446) -24.0% (20,372) -25.0% DEPARTMENTAL PROFIT/(LOSS) (150,792) -27.2% (155,867) -28.4% (204,589) -39.6%

14 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. HELM CLUB RESTAURANT DEPARTMENTAL PROFIT & LOSS 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 14, % 15, % 11, % Compass Rose 94, % 94, % 83, % 22, % 21, % 28, % Banquet 193, % 164, % 176, % 0 0.0% 3, % 0 0.0% Prime Dining 5, % 18, % 0 0.0% 0 0.0% 0 0.0% 0 0.0% Beverage Cart 0 0.0% 0 0.0% 0 0.0% 37, % 41, % 39, % TOTAL FOOD REVENUE 292, % 278, % 259, % BEVERAGE REVENUE 9, % 12, % 7, % Compass Rose 60, % 81, % 66, % 3, % 6, % 4, % Banquet 47, % 37, % 43, % 0 0.0% % 0 0.0% Prime Dining 1, % 3, % 0 0.0% 0 0.0% 0 0.0% 0 0.0% Beverage cart 0 0.0% 0 0.0% 0 0.0% 12, % 20, % 12, % TOTAL BEVERAGE REVENUE 108, % 123, % 110, % OTHER REVENUE 3, % 2, % 2, % Helm Club Dining Dues 25, % 14, % 12, % 0 0.0% 0 0.0% 0 0.0% Room Rental 0 0.0% 0 0.0% 0 0.0% 1, % 2, % 2, % Miscellaneous 4, % 17, % 12, % 5, % 5, % 4, % TOTAL OTHER REVENUE 30, % 32, % 25, % 55, % 66, % 56, % TOTAL FOOD & BEVERAGE REVENUE 431, % 433, % 395, % COST OF SALES 15, % 16, % 15, % Food Cost of Sales 123, % 111, % 101, % 4, % 5, % 3, % Beverage Cost of Sales 35, % 34, % 30, % 19, % 22, % 19, % TOTAL COST OF SALES 158, % 145, % 132, % WAGES & BENEFITS 14, % 17, % 15, % Salaries & Wages - Dining Room 100, % 109, % 82, % 14, % 16, % 16, % Salaries & Wages - Kitchen 104, % 108, % 91, % 4, % 6, % 6, % Payroll Burden 36, % 43, % 31, % 1, % 1, % 1, % Employee Meals 7, % 6, % 6, % % % 1, % Group Insurance 8, % 2, % 3, % 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% % % % Vacation/Holiday 7, % 3, % 1, % % % 0 0.0% 401(k) Program % % 0 0.0% % % % Miscellaneous 1, % % % 36, % 42, % 40, % TOTAL WAGES & BENEFITS 268, % 276, % 217, % OTHER EXPENSES 0 0.0% 0 0.0% 0 0.0% Advertising - Help Wanted 0 0.0% 0 0.0% 0 0.0% 0 0.0% % % Banquet Supplies (142) 0.0% 1, % 2, % % % % Cable TV % % % 0 0.0% % % China/Glass/Silverware % 1, % % % % 1, % Cleaning Supplies 6, % 5, % 4, % 0 0.0% 0 0.0% % Contract Labor % 0 0.0% 1, % % % % Decorations 2, % 4, % 5, % % % 0 0.0% Dues & Subscriptions % % 0 0.0% 0 0.0% % 0 0.0% Equipment Rental % 1, % % 0 0.0% 0 0.0% 0 0.0% Kitchen Equipment 0 0.0% 0 0.0% 1, % % 2, % 2, % Laundry & Linen 11, % 15, % 13, % % % % Leased Equipment 3, % 4, % 3, % 0 0.0% 0 0.0% 0 0.0% License & Fees % % % 1, % % 1, % Maintenance Contracts 4, % 3, % 5, % % 1, % % Maintenance & Repairs 6, % 7, % 11, % 0 0.0% % 0 0.0% Marketing & Advertising 0 0.0% % % 0 0.0% % 0 0.0% Miscellaneous 0 0.0% % % % 1, % % Music & Entertainment 12, % 10, % 8, % 0 0.0% % 0 0.0% Office Expense % 1, % % % % % Operating Supplies 1, % 2, % 5, % % % % Paper & Plastic 4, % 5, % 3, % 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% % % % % Promotions 3, % 1, % 1, % % % % Telephone 3, % 3, % 3, % 0 0.0% % % Travel % % % % % % Uniforms % 2, % % 0 0.0% % 0 0.0% Utensils 0 0.0% % 0 0.0% 5, % 11, % 11, % TOTAL OTHER EXPENSES 64, % 75, % 75, % (6,620) -11.9% (9,260) -13.9% (14,668) -26.2% DEPARTMENTAL PROFIT/(LOSS) (59,491) -13.8% (63,823) -14.7% (29,201) -7.4%

15 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. GOLF OPERATIONS DEPARTMENTAL PROFIT & LOSS 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 12, % 12, % 13, % Cart Revenue 91, % 87, % 86, % 3, % 5, % 4, % Green Fees 30, % 30, % 28, % 8, % 8, % 10, % Golf Merchandise 66, % 61, % 58, % 1, % % % Club Storage 10, % 8, % 8, % % 0 0.0% 0 0.0% Reciprocal % % % 1, % 1, % 1, % Practice Range 12, % 11, % 12, % 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 6, % 6, % 6, % % % % Pull Cart Rental 1, % 1, % 1, % 0 0.0% 0 0.0% 0 0.0% Miscellaneous Income 2, % 1, % % % % % Miscellaneous Shop Service 1, % 1, % 1, % % % % Lessons 6, % 3, % 3, % % % % Club Repair 2, % 1, % 2, % 29, % 29, % 30, % TOTAL GOLF REVENUE 232, % 215, % 210, % COST OF SALES 6, % 5, % 7, % Golf Merchandise COS 45, % 42, % 40, % % % % Golf Merchandise Freight COS 2, % 1, % 1, % % % 1 0.0% Golf Merchandise Discounts COS % % % 7, % 6, % 7, % TOTAL COST OF SALES 48, % 43, % 41, % WAGES & BENEFITS 11, % 10, % 10, % Salaries & Wages 89, % 89, % 86, % 1, % 1, % % Commissions/Lessons 11, % 10, % 8, % 1, % 1, % 1, % Payroll Burden 14, % 15, % 14, % 0 0.0% % 0 0.0% Employee Meals 0 0.0% % % % % % Group Insurance 5, % 6, % 6, % 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% % % 0 0.0% Vacation/Holiday 4, % 2, % 1, % % % 0 0.0% 401(k) Program % % % % % 0 0.0% Miscellaneous % % % 14, % 15, % 14, % TOTAL WAGES & BENEFITS 125, % 124, % 118, % OTHER EXPENSES 0 0.0% 0 0.0% 0 0.0% Advertising - Help Wanted 0 0.0% 0 0.0% 0 0.0% % % % Cable TV % % % 0 0.0% % 0 0.0% Cleaning Supplies 0 0.0% % 0 0.0% 0 0.0% 0 0.0% 0 0.0% Contract labor 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Decorations % % % % 0 0.0% % Dues & Subscriptions % % % 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% Handicaps 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Laundry & Linen 0 0.0% 0 0.0% 0 0.0% 2, % 3, % 3, % Leased Equipment 21, % 21, % 20, % 0 0.0% 0 0.0% 0 0.0% License & Fees 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Locker Room Supplies 0 0.0% 0 0.0% 0 0.0% % % % Maintenance Contracts 2, % 3, % 2, % % 0 0.0% 0 0.0% Maintenance & Repairs % % % 0 0.0% % 0 0.0% Marketing & Advertising 0 0.0% 1, % 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% Miscellaneous 0 0.0% 0 0.0% 0 0.0% % % % Office Expense % 1, % % % % 1, % Operating Supplies 1, % 1, % 3, % (1) 0.0% % 0 0.0% Paper Products/Water % % % 0 0.0% 0 0.0% 0 0.0% Pest Control 0 0.0% 0 0.0% 0 0.0% % % % Postage % % % 0 0.0% % % Practice Range 2, % 1, % 1, % 0 0.0% 0 0.0% 0 0.0% Printing % % % 0 0.0% % % Promotions % 1, % 1, % 0 0.0% 0 0.0% 0 0.0% Scorecard & Pencils 0 0.0% % % 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 1, % 2, % 2, % 0 0.0% 0 0.0% % Travel 1, % 1, % % 0 0.0% 0 0.0% 0 0.0% Uniforms % % % 4, % 5, % 5, % TOTAL OTHER EXPENSES 35, % 40, % 35, % 3, % 2, % 3, % DEPARTMENTAL PROFIT/(LOSS) 23, % 7, % 14, %

16 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. TENNIS DEPARTMENTAL PROFIT & LOSS 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, % 3, % 3, % 5, % 7, % 7, % Tennis Merchandise 47, % 51, % 54, % - 0.0% - 0.0% - 0.0% Tennis Miscellaneous - 0.0% - 0.0% - 0.0% 2, % 2, % 2, % Dues - League 19, % 20, % 20, % 2, % 2, % 2, % Dues - Special Ltd. 16, % 18, % 17, % - 0.0% % - 0.0% Tennis Member Events % % % % % % Tennis Ball Machine % % % % - 0.0% - 0.0% Tennis Camp 7, % 4, % 6, % 5, % 10, % 9, % Tennis Lessons 60, % 72, % 73, % % % 1, % Tennis Stringing 5, % 6, % 7, % - 0.0% - 0.0% - 0.0% Florida Open Pro % Pass Through 1, % - 0.0% 1, % 18, % 25, % 24, % TOTAL TENNIS REVENUE 162, % 178, % 187, % COST OF SALES 5, % 5, % 6, % Cost of Sales - Tennis Merchandise 37, % 39, % 41, % % % % Cost of Sales - Freight % 1, % 1, % (8) 0.1% % % Cost of Sales - Discounts % 1, % 1, % 5, % 5, % 6, % TOTAL COST OF SALES 38, % 39, % 41, % WAGES & BENEFITS 14, % 11, % 12, % Salaries & Wages 83, % 82, % 82, % 5, % 9, % 8, % Commissions/Lessons 61, % 63, % 62, % - 0.0% - 0.0% - 0.0% Tennis Camp Wages - 0.0% 4, % 4, % 2, % 2, % 2, % Payroll Burden 20, % 21, % 20, % - 0.0% % - 0.0% Employee Meals - 0.0% % 1 0.0% % 1, % 1, % Group Insurance 6, % 7, % 7, % - 0.0% - 0.0% - 0.0% Bonus - 0.0% - 0.0% - 0.0% % % % Vacation/Holiday 6, % 4, % 4, % - 0.0% % - 0.0% 401(k) Program % % % % % - 0.0% Miscellaneous % % % 23, % 25, % 25, % TOTAL WAGES & BENEFITS 179, % 184, % 181, % OTHER EXPENSES - 0.0% - 0.0% - 0.0% Advertising - Help Wanted - 0.0% % - 0.0% % % % Cable TV % % % - 0.0% - 0.0% - 0.0% Clay Tennis % - 0.0% - 0.0% - 0.0% % - 0.0% Cleaning Supplies % % - 0.0% - 0.0% % % Contract Labor % % % - 0.0% % - 0.0% Decorations % % % % - 0.0% - 0.0% Dues & Subscriptions % % - 0.0% - 0.0% - 0.0% - 0.0% Equipment Rental - 0.0% - 0.0% - 0.0% - 0.0% % % Grounds & Courts % 2, % 2, % % % % Leased Equipment 2, % 2, % 1, % - 0.0% - 0.0% - 0.0% License & Fees - 0.0% - 0.0% - 0.0% % % % Maintenance Contracts 1, % 1, % 1, % % % % Maintenance & Repairs 3, % 4, % 1, % - 0.0% - 0.0% - 0.0% Marketing & Advertising - 0.0% % 1, % - 0.0% % - 0.0% Meals & Entertainment % % - 0.0% - 0.0% - 0.0% - 0.0% Miscellaneous - 0.0% - 0.0% % - 0.0% % % Office Expense % 1, % % % % % Operating Supplies 5, % 2, % 1, % % % % Postage % % % - 0.0% % - 0.0% Printing - 0.0% % - 0.0% 2, % % % Promotions 5, % 2, % 2, % - 0.0% - 0.0% - 0.0% Sand & Soil - 0.0% % - 0.0% - 0.0% % - 0.0% Signs & Fences - 0.0% % - 0.0% - 0.0% - 0.0% - 0.0% Small Tools - 0.0% 1, % - 0.0% % % % Stringing Fees 2, % 2, % 3, % % % % Telephone 2, % 1, % 1, % - 0.0% - 0.0% - 0.0% Tennis Camp 3, % 1, % 1, % - 0.0% - 0.0% - 0.0% Travel 3, % - 0.0% % % % - 0.0% Uniforms % % % 5, % 4, % 2, % TOTAL OTHER EXPENSES 34, % 27, % 18, % (15,542) -84.6% (10,233) -40.9% (9,836) -40.5% DEPARTMENTAL PROFIT/(LOSS) (89,057) -54.7% (73,792) -41.4% (54,595) -29.2%

17 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. MARINA DEPARTMENTAL PROFIT & LOSS 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 27, % 13, % 13, % Marina Merchandise/Services 118, % 95, % 102, % 91, % 84, % 117, % Marina Gas Sales 472, % 348, % 421, % 23, % 12, % 12, % Marina Deisel Sales 85, % 71, % 66, % 1, % 2, % 1, % Marina Boat Servicing ( In House ) 14, % 25, % 20, % 63, % 35, % 43, % Marina Boat Servicing ( Subcontractor ) 330, % 263, % 268, % 0 0.0% 0 0.0% % Marina Dock Hook Up 0 0.0% 0 0.0% % 0 0.0% 0 0.0% 0 0.0% Marina Dock On Rental % % % 2, % 2, % 2, % Marina Electric Cord Charge 14, % 16, % 14, % 1, % 2, % 3, % Marina Boat Rental 12, % 11, % 11, % 2, % 2, % 2, % Marina Boat Storage 19, % 17, % 19, % 1, % 1, % 1, % Marina Ramp Fees 7, % 8, % 7, % (901) -0.4% 0 0.0% 0 0.0% Marina Miscellaneous Income 0 0.0% 0 0.0% % 214, % 155, % 197, % TOTAL MARINA REVENUE 1,074, % 857, % 932, % COST OF SALES 14, % 8, % 9, % Merchandise/Service 74, % 64, % 66, % 80, % 74, % 113, % Gasoline 421, % 310, % 374, % 20, % 10, % 13, % Diesel 72, % 59, % 56, % 1, % % 1, % Fuel Use Tax Diesel 4, % 3, % 3, % 55, % 29, % 37, % Subcontractor Work 290, % 220, % 234, % 0 0.0% 0 0.0% 0 0.0% Rental Boat Expense 0 0.0% % 0 0.0% 172, % 124, % 175, % TOTAL COST OF SALES 862, % 659, % 735, % WAGES & BENEFITS 8, % 11, % 10, % Salaries & Wages 63, % 78, % 72, % 6, % 4, % 2, % Commissions 27, % 27, % 24, % 1, % 2, % 2, % Payroll Burden 13, % 17, % 14, % % % 0 0.0% Employee Meals % % % 1, % 1, % 1, % Group Insurance 7, % 7, % 5, % 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% % % % Vacation/Holiday 4, % 3, % % 0 0.0% % 0 0.0% 401(k) Program 0 0.0% % % % % 0 0.0% Miscellaneous % % % 18, % 19, % 16, % TOTAL WAGES & BENEFITS 117, % 134, % 118, % OTHER EXPENSES 0 0.0% 0 0.0% 0 0.0% Advertising - Help Wanted 0 0.0% 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% 0 0.0% 0 0.0% 0 0.0% Consulting Fees 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Contract Labor 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Decoration % % 0 0.0% 0 0.0% 0 0.0% 0 0.0% Donations 0 0.0% 0 0.0% 0 0.0% % 0 0.0% 0 0.0% Dues & Subscriptions % % % 1, % 1, % 1, % Electric - Boat Docks 9, % 8, % 8, % 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% Gasoline & Oil 0 0.0% % 0 0.0% 0 0.0% % 0 0.0% Grounds, Parking & Docks 0 0.0% % 0 0.0% 0 0.0% 0 0.0% 0 0.0% Laundry & Linen 0 0.0% 0 0.0% 0 0.0% % % % Leased Equipment 1, % 1, % 1, % % 0 0.0% % Licenses & Fees % % % % % % Maintenance Contracts 1, % % 1, % 0 0.0% % % Maintenance & Repairs % 2, % 1, % 0 0.0% % 0 0.0% Marketing & Advertising 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% % Miscellaneous 0 0.0% 0 0.0% % 0 0.0% % % Office Expense % 1, % 1, % % % % Operating Supplies 3, % 2, % 1, % 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% % 0 0.0% Promotions % % 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% Small Tools % % % % % % Telephone 1, % 2, % 2, % 0 0.0% 0 0.0% 0 0.0% Travel 0 0.0% 0 0.0% 0 0.0% % % % Uniforms % % % % % % Utilities - Electric 4, % 4, % 4, % % % % Utilities - Trash Removal 1, % 1, % 1, % 4, % 5, % 4, % TOTAL OTHER EXPENSES 27, % 31, % 26, % 20, % 6, % 1, % DEPARTMENTAL PROFIT/(LOSS) 66, % 32, % 52, %

18 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. MISCELLANEOUS DEPARTMENTAL PROFIT & LOSS 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 0 0.0% 0 0.0% 0 0.0% Annual Discount 0 0.0% 0 0.0% 0 0.0% 65, % 66, % 65, % Debt Finance Income 463, % 462, % 461, % 0 0.0% % 0 0.0% Discounts Earned % % % 0 0.0% 0 0.0% 0 0.0% Donation Income % % % % % % Dues - Pool Membership 5, % 6, % 6, % 4, % 2, % 2, % Finance Charges 25, % 19, % 22, % % % % Interest Income % % % 0 0.0% 0 0.0% 0 0.0% Landings Realty Commissions 0 0.0% 0 0.0% % 1, % 1, % 0 0.0% Landings Realty Rent 7, % 7, % 5, % % 1, % 1, % Lease Processing Fee 41, % 42, % 39, % 0 0.0% 0 0.0% 0 0.0% Lease Processing Fee - Clubhouse 0 0.0% 0 0.0% 0 0.0% % % % Miscellaneous Income - Transmitters 3, % 1, % % % % % Miscellaneous Income 4, % 3, % 3, % 313, % 313, % 313, % Operating Assessments 2,194, % 2,194, % 2,194, % 0 0.0% 0 0.0% 0 0.0% Owner Fees - Discounts (760) 0.0% 0 0.0% (800) 0.0% % % % Owner Transfers Fees 2, % 1, % 1, % 0 0.0% 0 0.0% 0 0.0% Owner Transfers 0 0.1% 0 0.0% 0 0.1% 22, % 22, % 22, % Rverside Annual 22, % 22, % 22, % 0 0.0% 0 0.0% 0 0.0% Special Assessments 0 0.1% 0 0.0% 0 0.1% 411, % 409, % 408, % TOTAL MISCELLANEOUS REVENUE 2,771, % 2,762, % 2,759, %