District Surplus (Deficit) Before Capital 341, ,705 (35,218) 361, , , ,077 (124,778) (92,356) (81,010) (11,346) 437,513

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1 EAGLE-VAIL METROPOLITAN DISTRICT AND PROPERTY OWNERS ASSOCIATION STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCES (SEE NOTE BELOW) New Cal Yr Adopted Projected YTD YTD Variance Current Variance Adopted No Account Pg Actual Budget Fav(Unfav) Forecast 12/31/16 12/31/16 (Unfavor) 12/31/ /31/ /31/16 (Unfavor) Budget Assessed Value 67,307,110 81,210, ,210,180 80,737,790 Percent Change -1% Operating Mill Levy Rate Debt Service Mill Rate Total Mill Levy Rate District Revenues Operating Property Tax 998,456 1,204, ,204,753 1,196,045 1,204,753 (8,708) 481 2,090 2,623 (533) 1,197,745 Debt Service Property Tax 477, , , , ,922 (3,513) ,041 (211) 477,968 Total Property Tax 1,476,351 1,682, ,682,675 1,670,454 1,682,675 (12,221) 712 2,919 3,663 (744) 1,675,713 Operating Specific Ownership Tax 51,140 48, ,190 51,994 48,190 3,804 8,408 4,303 8,032 (3,729) 47,910 Debt Service Specific Ownership Tax 24,477 19, ,117 20,623 19,117 1,506 4,024 1,707 3,186 (1,479) 19,119 Water Tap Fees 2 57, Interest Income 19,187 15,009 4,991 20,000 31,348 15,009 16, ,695 1, ,231 Golf Revenues less Cost of Goods Sold 5 1,341,734 1,371,500 (17,105) 1,354,395 1,375,047 1,371,500 3,547 (24,694) (14,751) 0 (14,751) 1,440,000 Pavilion, Tennis, Fire Stn Bldg, Swim & Parks Reve 247, ,350 9, , , ,350 16,173 14,987 12,003 15,950 (3,948) 266,450 Food and Beverage Rev less CGS 9 135, ,405 1, , , ,405 2, ,405 Total District Revenues 3,352,785 3,529,246 (1,085) 3,528,161 3,561,181 3,529,246 31,936 4,262 7,875 32,082 (24,207) 3,614,827 District Disbursements Golf Maintenance Expense 6A (763,074) (796,676) (13,260) (809,936) (783,883) (796,676) 12,792 (37,297) (32,829) (29,408) (3,420) (813,231) Golf Pro Shop and Willow Creek 7B (425,738) (420,481) 6,868 (413,612) (401,067) (420,481) 19,414 (15,189) (13,298) (18,311) 5,013 (434,102) Clubhouse Expense 6B (43,325) (48,263) (700) (48,963) (42,060) (48,263) 6,203 (2,319) (880) (1,698) 818 (48,263) Food & Beverage Expense 9 (131,110) (134,443) 1,593 (132,850) (124,461) (134,443) 9,982 (1,282) (495) (1,291) 796 (136,483) Pavilion Expenses 2 (48,428) (51,820) 7,010 (44,810) (43,671) (51,820) 8,149 (4,252) (2,563) (4,339) 1,776 (54,220) Tennis Expenses 2 (2,293) (3,650) 1,541 (2,109) (1,884) (3,650) 1,766 (185) (65) (190) 125 (4,510) Fire Station Building Expenses 0 (8,700) (4,040) (12,740) (7,631) (8,700) 1, (2,175) 2,175 (9,900) Swim Expenses 3 (175,267) (179,421) (2,421) (181,842) (187,841) (179,421) (8,420) (5,931) (3,920) (1,840) (2,080) (186,364) Parks Expense 4 (147,980) (158,800) (7,009) (165,809) (154,237) (158,800) 4,563 (3,477) (404) 6,263 (6,667) (172,300) General and Administrative Expense - GF 8 (512,615) (567,148) (23,716) (590,864) (537,605) (567,148) 29,543 (59,102) (45,751) (60,072) 14,320 (558,363) Treasurer's and Paying Agent Fees - DS (15,581) (15,538) 0 (15,538) (15,457) (15,538) 81 (7) (27) (31) 5 (15,539) Debt Service - GO Bonds 4 (473,213) (472,513) 0 (472,513) (472,513) (472,513) (472,763) Debt Service '99/09 Certs of Participation 4 (272,963) (275,088) 0 (275,088) (275,088) (275,088) (271,275) Total MD Disbursements Before Capital (3,011,586) (3,132,540) (34,134) (3,166,674) (3,047,399) (3,132,540) 85,142 (129,040) (100,231) (113,092) 12,861 (3,177,314) District Surplus (Deficit) Before Capital 341, ,705 (35,218) 361, , , ,077 (124,778) (92,356) (81,010) (11,346) 437,513 Capital Expenditures 10 (1,117,067) (868,628) 263,660 (604,968) (599,291) (868,628) 269,337 (31,454) (21,620) 42,500 (64,120) (810,455) EVPOA Contribution to Costs (Excl G&A) 142, ,250 (110,848) 98, , ,250 (106,049) 142, , ,250 (106,049) 198,500 District Surplus (Deficit) (633,122) (262,673) 117,594 (145,079) 17,693 (262,673) 280,366 (13,486) (10,774) 170,740 (181,514) (174,442) Fund Balance - Beginning Metro 3,605,560 2,775, ,474 2,964,698 2,902,557 2,775, ,333 2,994,751 2,931,025 2,341, ,213 2,819,619 Change in Bond Res Funds, Prepaids & Inventory Fund Bal - End Metro 2,972,438 2,512, ,068 2,819,619 2,920,251 2,512, ,699 2,981,266 2,920,251 2,512, ,699 2,645,178 = = = = = = = = = = = Components of Fund Balance Operating reserve (~50% of Operating Exp) 1,132,705 1,192,470 17,067 1,209,537 1,310,168 1,192, ,698 1,216,638 Capital & Replacement Reserve 1,839,733 1,320, ,001 1,610,083 1,610,083 1,320, ,001 1,428,540 Total 2,972,438 2,512, ,068 2,819,619 2,920,251 2,512, ,699 2,645,178 No assurance is provided on these financial statements; substantially all disclosures required by GAAP omitted. Page 1-A (Summary A)

2 EAGLE-VAIL METROPOLITAN DISTRICT STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCES Cal Yr Adopted Projected Cal Yr YTD YTD Variance Current Variance Adopted Variance 2016 Actual To Budget To Favor Mo Actual Actual Budget Favor 2017 Account Ref Actual Budget Fav(Unfav) Forecast 12/31/16 12/31/16 (Unfavor) 12/31/ /31/ /31/16 (Unfavor) Budget POA Surplus (Deficit) POA Op Assmts (See Also Cap Assmt Below11A 296, , , , , ,430 DRB Fees 11A 17,056 10,000 2,000 12,000 19,685 10,000 9, , ,721 10,000 POA Other Income 11A 24,272 22,600 14,850 37,450 37,888 22,600 15,288 1,558 2,614 1, ,600 General, Admin & Operations 11A (277,156) (284,799) (1,965) (286,764) (269,409) (284,799) 15,389 (24,915) (18,989) (20,670) 1,681 (291,014) Community Relations 11B (28,843) (38,860) 530 (38,330) (27,932) (38,860) 10,928 (6,252) (4,878) (2,447) (2,431) (36,360) Design Review Committee 11B (21,741) (15,000) 0 (15,000) (25,875) (15,000) (10,875) (1,930) (900) (1,250) 350 (15,000) POA Operating Surplus (Deficit) 10,018 (9,629) 15,415 5,786 31,121 (9,629) 40,750 (31,329) (12,264) (21,650) 9,386 (12,344) POA Cap Res Assmt (See Op Assmt Above) 11B 187, , , , , ,980 POA Projects, Capital and Non-Routine 11B (179,654) (247,250) 139,848 (107,402) (113,081) (247,250) 134,169 (138,616) (103,213) (209,250) 106,037 (208,500) POA Capital Surplus (Deficit) 11B 8,326 (59,270) 139,848 80,578 74,899 (59,270) 134,169 (138,616) (103,213) (209,250) 106,037 (20,520) POA Overall Surplus (Deficit) 18,344 (68,899) 155,263 86, ,020 (68,899) 174,919 (169,945) (115,476) (230,900) 115,423 (32,864) Fund Balance - Beginning POA 11B 432, ,057 (9,764) 451, , ,057 (9,764) (9,186) 672, ,830 59, ,079 Less Depreciation (578) 0 (578) 0 (578) (578) Fund Bal - End POA 11B 451, , , , , , ,733 (179,131) 557, , , ,637 = = = = = = = = = = = Operating Reserve (~50% of Operating Exp) 163, , , , ,329 (7,721) 16,548 12,384 12, ,187 Capital & Replacement Reserve 287, , , , , , ,454 (195,679) 544, , , ,450 Total 451, , , , , , ,733 (179,131) 557, , , ,637 Combined Reserves: Operating 1,296,575 1,361,799 17,784 1,379,584 1,471,776 1,361, ,977 16,548 12,384 12, ,387,825 Capital 2,127,156 1,542, ,783 1,977,115 2,005,787 1,542, ,455 (195,679) 544, , ,532 1,760,990 Total 3,423,731 2,904, ,567 3,356,699 3,477,563 2,904, ,432 (179,131) 557, , ,733 3,148,815 No assurance is provided on these financial statements; substantially all disclosures required by GAAP omitted. Note: Separate underlying accounting records are maintained for each entity and this combined report is presented for information purposes only. Shaded areas are the POA accounts. Page 1-B (Summary B)

3 EAGLE-VAIL METROPOLITAN DISTRICT STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCES No Account Ref Actual Budget Fav(Unfav) Forecast 12/31/16 12/31/16 (Unfavor) 12/31/ /31/ /31/16 (Unfavor) Budget Assessed Value 67,307,110 81,210,180 81,210, % 80,737,790 Operating Mill Levy Rate Debt Service Mill Rate General Operations Revenue&(Expenditures) Operating Property Tax 998,456 1,204, ,204,753 1,196,045 1,204,753 (8,708) 481 2,090 2,623 (533) 1,197, Operating Specific Ownership Tax 51,140 48, ,190 51,994 48,190 3,804 8,408 4,303 8,032 (3,729) 47,910 Water Tap Fees 2 57, Interest Income 19,187 15,009 4,991 20,000 31,348 15,009 16, ,695 1, ,231 G&A Expense (Net of POA Contribution) 8 (512,615) (567,148) (23,716) (590,864) (537,605) (567,148) 29,543 (59,102) (45,751) (60,072) 14,320 (558,363) Capital General (2,780) (37,400) 8,400 (29,000) (28,375) (37,400) 9, EVPOA Contribution to Costs (Excl G&A) 142, ,250 (110,848) 98, , ,250 (106,049) 142, , ,250 (106,049) 198,500 Total General Operations 753, ,654 (121,172) 751, , ,654 (56,045) 93,221 65, ,084 (95,545) 901,022 Debt Service Debt Service Property Tax 477, , , , ,922 (3,513) ,041 (211) 477, Debt Service Specific Ownership Tax 24,477 19, ,117 20,623 19,117 1,506 4,024 1,707 3,186 (1,479) 19,119 Debt Service - General Obligation Bonds 4 (473,213) (472,513) 0 (472,513) (472,513) (472,513) (472,763) Paying Agent Fees for Bonds (1,219) (1,200) 0 (1,200) (1,200) (1,200) (1,200) Treasurer's Fees - Debt Service (14,362) (14,338) 0 (14,338) (14,257) (14,338) 81 (7) (27) (31) 5 (14,339) 13,578 8, ,989 7,062 8,989 (1,926) 4,247 2,509 4,195 (1,686) 8,785 Parks & Rec Operations/Cap Surplus (Deficit) Pavilion Income 2 44,743 57, ,000 54,298 57,000 (2,703) 3,125 2,750 3,735 (985) 57,000 Pavilion Expenses 2 (48,428) (51,820) 7,010 (44,810) (43,671) (51,820) 8,149 (4,252) (2,563) (4,339) 1,776 (54,220) Pavilion Capital 10A (17,423) (54,750) 12,750 (42,000) (41,795) (54,750) 12, (8,358) Total Pavilion (21,109) (49,570) 19,760 (29,810) (31,169) (49,570) 18,401 (1,127) 187 (605) 791 (5,578) Tennis Operations 2 (1,908) (3,650) 1,541 (2,109) (1,584) (3,650) 2,066 (185) (65) (190) 125 (4,110) Tennis Capital 10A (490,140) Total Tennis (1,908) (3,650) 1,541 (2,109) (1,584) (3,650) 2,066 (185) (65) (190) 125 (494,250) Swim Club Income 3 133, ,700 (131) 135, , ,700 (131) ,200 Swim Club Expenses 3 (175,267) (179,421) (2,421) (181,842) (187,841) (179,421) (8,420) (5,931) (3,920) (1,840) (2,080) (186,364) Swim Club Capital 10A (5,213) (49,000) 15,498 (33,502) (32,480) (49,000) 16, Total Swim Club (46,559) (92,721) 12,946 (79,775) (84,752) (92,721) 7,969 (5,931) (3,920) (1,840) (2,080) (43,164) Parks and Fields Operations 3 (79,815) (122,150) 2,927 (119,223) (88,410) (122,150) 33,740 8,385 8,849 13,979 (5,130) (131,450) Parks, Fields, Trails And Paths Capital 10A (79,797) (100,500) 36,600 (63,900) (70,406) (100,500) 30,094 0 (735) 0 (735) (60,000) Total Parks (159,613) (222,650) 39,527 (183,123) (158,816) (222,650) 63,834 8,385 8,114 13,979 (5,865) (191,450) Fire Station Building Income 18, ,000 7,529 18,000 (10,471) 0 4,500 (4,500) 25,000 Fire Station Building Operating Expenses (8,700) (4,040) (12,740) (7,631) (8,700) 1,069 0 (2,175) 2,175 (9,900) Fire Station Building Capital Total Fire Station Building 0 9,300 (4,040) 5,260 (102) 9,300 (9,402) 0 0 2,325 (2,325) 15,100 Design Amenities, Traffic and Misc Capital 10A (56,138) (138,500) 115,500 (23,000) (22,258) (138,500) 116,242 (9,601) (20,017) 42,500 (62,517) (26,000) Total Parks & Rec Operating & Capital (285,327) (497,791) 185,234 (312,557) (298,681) (497,791) 199,110 (8,459) (15,700) 56,169 (71,870) (745,342) No assurance is provided on these financial statements; substantially all disclosures required by GAAP omitted. Page 1-C (Summary C)

4 EAGLE-VAIL METROPOLITAN DISTRICT STATEMENT OF REVENUES, EXPENDITURES AND FUND BALANCES Cal Yr Year to Date Last Year Current Month Cal Yr New Cal Yr Adopted Projected Cal Yr YTD YTD Variance Current Variance Prelim Acct Variance 2016 Actual To Budget To Favor Mo Actual Actual Budget Favor 2017 No Account Ref Actual Budget Fav(Unfav) Forecast 12/31/16 12/31/16 (Unfavor) 12/31/ /31/ /31/16 (Unfavor) Budget Golf Operations & Capital Surplus (Deficit) Golf Revenue 5 1,341,734 1,371,500 (17,105) 1,354,395 1,375,047 1,371,500 3,547 (24,694) (14,751) 0 (14,751) 1,440,000 Golf Maintenance Expense 6A (763,074) (796,676) (13,260) (809,936) (783,883) (796,676) 12,792 (37,297) (32,829) (29,408) (3,420) (813,231) Golf Pro Shop and Willow Creek 7B (425,738) (420,481) 6,868 (413,612) (401,067) (420,481) 19,414 (15,189) (13,298) (18,311) 5,013 (434,102) Clubhouse Expense 6B (43,325) (48,263) (700) (48,963) (42,060) (48,263) 6,203 (2,319) (880) (1,698) 818 (48,263) Food & Beverage 9 4,076 10,962 2,817 13,779 23,731 10,962 12,770 (1,143) (495) (1,291) ,922 Golf Operations Surplus (Deficit) 113, ,042 (21,380) 95, , ,042 54,726 (80,642) (62,253) (50,709) (11,545) 158,325 Clubhouse Capital 10B (182,199) (15,000) 6,000 (9,000) (8,336) (15,000) 6,664 (10,379) (78,359) Pro Shop and Driving Range Capital 10B Hole 11 Capital 10B 0 (10,000) 5,000 (5,000) (4,885) (10,000) 5, (21,218) Willow Creek Capital 10B 0 (30,000) 30, (30,000) 30, (15,000) Maintenance Facility Capital 10B 0 (56,000) 6,000 (50,000) (45,775) (56,000) 10,225 0 (868) 0 (868) 0 Golf Course Capital 10C (390,043) (153,276) 21,000 (132,276) (130,581) (153,276) 22,695 (12,474) (69,000) Equipment 10C (383,473) (224,202) 6,912 (217,290) (214,401) (224,202) 9,801 1, (42,380) Debt Service '99 Certs of Participation 4 (272,963) (275,088) 0 (275,088) (275,088) (275,088) (271,275) Total Golf Ops and Capital Surplus (Deficit) (1,115,005) (646,523) 53,532 (592,992) (507,297) (646,523) 139,226 (102,495) (63,122) (50,709) (12,413) (338,907) Total Operating Income Including Capital (633,122) (262,673) 117,594 (145,079) 17,693 (262,673) 280,366 (13,486) (10,774) 170,740 (181,514) (174,442) Capital Financing & Expenditures Grant Funding/Contributions/Property Sales Bond and COP Financing Proceeds Bond and COP Cost of Issue COPs Refunding Capital Expenditures and Equipment Equipment Lse/Purchase Pmts & Cost of Issue Total Capital Financing & Expenditures Overall District Surplus (Deficit) (633,122) (262,673) 117,594 (145,079) 17,693 (262,673) 280,366 (13,486) (10,774) 170,740 (181,514) (174,442) = = = = Fund Balance - Beginning 3,605,560 2,775, ,474 2,964,698 2,902,557 2,775, ,333 2,994,751 2,931,025 2,341, ,213 2,819,619 Change in Bond Res Funds, Prepaids & Inventory Fund Bal - End (Excl Restricted) 4 2,972,438 2,512, ,068 2,819,619 2,920,251 2,512, ,699 2,981,266 2,920,251 2,512, ,699 2,645,178 Components of Fund Balance Operating reserve (~50% of Operating Exp) 1,132,705 1,192,470 17,067 1,209,537 1,310,168 1,192, , ,216,638 Capital & Replacement Reserve 1,839,733 1,320, ,001 1,610,083 1,610,083 1,320, ,001 2,981,266 2,920,251 2,512, ,699 1,428,540 Total 2,972,438 2,512, ,068 2,819,619 2,920,251 2,512, ,699 2,981,266 2,920,251 2,512, ,699 2,645,178 = = = = = No assurance is provided on these financial statements; substantially all disclosures required by GAAP omitted. Page 1-D (Summary D)

5 EAGLE VAIL METROPOLITAN DISTRICT OTHER REVENUES Water Tap Fees Water Tap Fees (57,498) Village At Avon Tap Fees Buffalo Ridge Tap Fees 57, , Kayak Crossing Def. Taps Total Tap Fees 57, Pavilion Operations Rent - Pavilion 44,743 57, ,000 54,298 57,000 (2,703) 3,125 2,750 3,735 (985) 57, Rent-Pavilion Tables/Chairs POA Rent & Utility Reimbursement Pavilion Income 44,743 57, ,000 54,298 57,000 (2,703) 3,125 2,750 3,735 (985) 57, Pavilion Advertising (121) (3,000) (660) (3,660) (4,290) (3,000) (1,290) 0 (245) 0 (245) (3,300) Pavilion Operations (3,000) (6,900) 4,370 (2,530) (2,891) (6,900) 4,009 (80) (80) (575) 495 (4,000) Pavilion Contract Cleaning (14,795) (14,500) 2,500 (12,000) (14,735) (14,500) (235) (781) (1,752) (1,208) (544) (14,500) Pavilion Irrigation, Planters, Flowers (4,886) (5,000) (5,000) (10,000) (8,862) (5,000) (3,862) 0 0 (417) 417 (10,000) Pavilion Repairs & Maint (12,877) (7,000) 3,000 (4,000) (2,915) (7,000) 4,085 (2,110) (92) (72) (21) (7,000) Pavilion Supplies (2,903) (3,000) 1,500 (1,500) (2,057) (3,000) 943 (292) (537) (21) (516) (3,000) Pavilion Utility - Electric (2,806) (3,500) 0 (3,500) (3,132) (3,500) 368 (205) (190) (879) 690 (3,500) Pavilion Utility - Gas (3,059) (4,120) 0 (4,120) (2,039) (4,120) 2,081 (299) 0 (701) 701 (4,120) Pavilion Utility - Water/Sewer (1,521) (2,000) 0 (2,000) (1,936) (2,000) 64 (126) (108) (233) 126 (2,000) Pavilion Trash Removal (2,462) (2,800) 1,300 (1,500) (814) (2,800) 1,986 (359) 440 (233) 673 (2,800) Pavilion Expenses (48,428) (51,820) 7,010 (44,810) (43,671) (51,820) 8,149 (4,252) (2,563) (4,339) 1,776 (54,220) Total Pavilion Operations (3,686) 5,180 7,010 12,190 10,626 5,180 5,446 (1,127) 187 (605) 791 2,780 Tennis Operations Tennis Revenue Repair & Maintenance/Courts/Eq 0 (1,000) 1, (1,000) 1, (1,000) Repair & Maintenance/Structural 0 (1,000) 1, (1,000) 1, (1,000) Supplies - Operating/Office Tennis Utiltiy - Electric (235) (240) 0 (240) (244) (240) (4) (20) (19) (42) 23 (500) Tennis Utility - Water/Sewer (1,176) (900) 0 (900) (544) (900) 356 (165) (45) (148) 102 (1,500) Tennis Utility - Trash (882) (510) (459) (969) (1,096) (510) (586) (510) Net Tennis Operations (1,908) (3,650) 1,541 (2,109) (1,584) (3,650) 2,066 (185) (65) (190) 125 (4,110) Pending receipt Fire Station Building Fire Station Building Rent 18, ,000 7,529 18,000 (10,471) 0 4,500 (4,500) 25, Fire Station Building Repairs & Maintenance (4,800) 0 (4,800) (2,463) (4,800) 2,337 0 (1,200) 1,200 (4,800) Fire Station Building Internet (1,000) 0 (1,000) 0 (1,000) 1,000 0 (250) 250 (1,000) Fire Station Building Utilities (1,800) 0 (1,800) (1,292) (1,800) (450) 450 (1,800) Fire Station Building Furniture (3,090) (3,090) (3,090) 0 (3,090) Fire Station Building Trash (600) 0 (600) 0 (600) (150) 150 (600) Fire Station Building Pest Control (500) 250 (250) 0 (500) (125) 125 (500) Fire Station Building Property Mgt (1,200) (1,200) (786) 0 (786) (1,200) Fire Station Building Capital (See Pg 10-A) Net Fire Station 0 9,300 (4,040) 5,260 (102) 9,300 (9,402) 0 0 2,325 (2,325) 15,100 No assurance is provided on these financial statements; substantially all disclosures required by GAAP omitted. -2-

6

7 EAGLE VAIL METROPOLITAN DISTRICT PARKS AND RECREATION OPERATING EXPENDITURES Swim Operations Swim Revenues 35,668 35,000 1,263 36,263 36,263 35,000 1, , Swim Lesson Revenues 12,200 12, ,200 12,200 12, , Swim Team Revenue 11,772 12,000 (10,642) 1,358 1,358 12,000 (10,642) , Swim Team Passes 11,929 11,929 11, , , Swim Passes 73,599 75,000 (1,583) 73,417 73,417 75,000 (1,583) , Swim Product Sales 823 1,500 (869) ,500 (869) ,500 Swim Rentals 1,700 (1,700) 0 1,700 (1,700) 0 0 1, Swim Product Cost of Goods Sold (141) (1,500) 1,271 (229) (229) (1,500) 1, (1,500) Total Swim Revenues 133, ,700 (131) 135, , ,700 (131) ,200 Swim Wages Salaries - Managers (22,666) (24,000) 1,580 (22,420) (23,812) (24,000) (1,392) 0 (1,392) (25,000) Salaries - Assistant Manager (72,054) (12,250) (146) (12,396) (12,996) (12,250) (746) 0 (600) 0 (600) (13,000) Salaries - Life Guards (30,000) (666) (30,666) (30,666) (30,000) (666) (32,000) Salaries - Front Desk (10,000) (4,310) (14,310) (14,310) (10,000) (4,310) (12,000) Salaries - Swim Team Coaches (7,750) (3,894) (11,644) (11,644) (7,750) (3,894) (7,750) Salaries - Instructors (8,000) 330 (7,670) (7,670) (8,000) (8,000) Total Wages (94,720) (92,000) (7,106) (99,106) (101,098) (92,000) (9,098) 0 (1,992) 0 (1,992) (97,750) Retirement Benefits (1,239) (725) (570) (1,295) (1,321) (725) (596) 0 (26) 0 (26) (760) Workers Compensation (858) (725) (167) (892) (892) (725) (167) (760) Payroll Taxes (279) (471) 411 (60) (279) (471) 192 (8) (494) Swim Advertising (3,660) (3,660) (4,290) 0 (4,290) (245) (245) (2,500) Janitorial (1,452) (2,000) (434) (2,434) (2,343) (2,000) (343) (2,000) Pool Contract Maintenance & Chemicals (17,607) (24,000) 7,866 (16,134) (16,456) (24,000) 7,544 (761) (172) (141) (31) (24,000) Repair & Replace - Pool, Eq, Solar Panels, Etc. (19,678) (10,000) (8,511) (18,511) (23,447) (10,000) (13,447) (2,280) (522) (169) (352) (10,000) Repair & Replace - Structure (4,136) (8,000) 3,502 (4,498) (4,498) (8,000) 3,502 (1,676) (8,000) Supplies (Office & General) (6,177) (6,400) 1,824 (4,576) (4,833) (6,400) 1,567 (30) (161) (42) (119) (6,000) Swim Team Expense (1,874) (3,000) 930 (2,070) (2,070) (3,000) (2,000) Uniforms/Suits (1,246) (2,000) (75) (2,075) (2,075) (2,000) (75) (2,000) Swim Utility - Electric (10,371) (12,000) 886 (11,114) (10,319) (12,000) 1,681 (632) (423) (1,060) 638 (12,000) Swim Utility - Gas (5,643) (6,500) 1,149 (5,351) (4,415) (6,500) 2,085 (169) (6,500) Swim Utility - Water/Sewer (6,462) (8,000) 1,464 (6,536) (5,971) (8,000) 2,029 (166) (164) (227) 62 (8,000) Swim Utility - Telephone (2,509) (2,400) (190) (2,590) (2,594) (2,400) (194) (208) (215) (200) (15) (2,400) Swim Utility - Trash (1,017) (1,200) 260 (940) (940) (1,200) (1,200) Total Swim Expenses (175,267) (179,421) (2,421) (181,842) (187,841) (179,421) (8,420) (5,931) (3,920) (1,840) (2,080) (186,364) Total Swim Operations (41,346) (43,721) (2,552) (46,273) (52,272) (43,721) (8,551) (5,931) (3,920) (1,840) (2,080) (43,164) No assurance is provided on these financial statements; substantially all disclosures required by GAAP omitted. -3-

8 EAGLE VAIL METROPOLITAN DISTRICT PARKS AND RECREATION OPERATING EXPENDITURES AND DEBT SERVICE Parks & Ball Fields Operations & Maintenance Rent - Field 6,418 2, ,000 4,375 2,000 2, (640) 2, School Reimbursement for Water (850) (850) Lottery Proceeds 14,991 14, ,000 17,477 14,000 3,477 3,423 4,199 3, , Miscellaneous 31,756 4,800 9,936 14,736 34,809 4,800 30,009 7,145 5,053 1,666 3,388 9, POA Reimbursement-Machinery & Labor 15,000 15, ,000 9,167 15,000 (5,833) 1, ,250 (1,250) 15,000 Total Parks Revenue 68,165 36,650 9,936 46,586 65,828 36,650 29,178 11,862 9,253 7,715 1,537 40,850 Park Labor And Expenses Community Landscape/Flowers Beds (5,164) (15,000) (10,000) (25,000) (23,631) (15,000) (8,631) (25,000) Contract Parks Maint - Eco (78,898) (75,000) 0 (75,000) (74,150) (75,000) ,848 (6,848) (75,000) Fields Maint Labor (10,631) (8,000) (709) (8,709) (10,167) (8,000) (2,167) (10,000) Fields Maint Supplies (11,154) (13,000) 0 (13,000) (9,353) (13,000) 3, (12,000) Contract Building & Park Mtce (15,160) (14,800) 0 (14,800) (10,058) (14,800) 4,742 (4,000) (14,000) Contract Snow Removal - Paths 0 (5,000) 5, (5,000) 5, Park Supplies & Maintenance (10,558) (12,000) 0 (12,000) (8,542) (12,000) 3, (191) 191 (10,000) Parks Utility - Electricity (6,702) (6,000) 0 (6,000) (6,452) (6,000) (452) (346) (310) (329) 18 (6,000) Parks Utility - Water/Sewer (9,713) (10,000) (1,300) (11,300) (11,884) (10,000) (1,884) (97) (93) (65) (28) (10,000) Tree Removal in Parks (10,300) Total Parks Expense (147,980) (158,800) (7,009) (165,809) (154,237) (158,800) 4,563 (3,477) (404) 6,263 (6,667) (172,300) Total Parks & Ball Fields Operations/Maintenance (79,815) (122,150) 2,927 (119,223) (88,410) (122,150) 33,740 8,385 8,849 13,979 (5,130) (131,450) Debt, COPs and Lease/Purchase Payments /2010 COPs Interest (47,963) (40,088) 0 (40,088) (40,088) (40,088) (31,275) /2010 COPs Principal (225,000) (235,000) 0 (235,000) (235,000) (235,000) (240,000) Bonds Interest (283,213) (277,513) 0 (277,513) (277,513) (277,513) (267,763) Bonds Principal (190,000) (195,000) 0 (195,000) (195,000) (195,000) (205,000) Total Financing Expenditures (746,175) (747,600) 0 (747,600) (747,600) (747,600) (744,038) No assurance is provided on these financial statements; substantially all disclosures required by GAAP omitted. Debt Repayment Schedule Bonds Bonds Bonds Bonds Bonds Bonds COPs COPs COPs Year Principal Interest Total Principal Interest Total Year Principal Interest Total , , , , , , ,000 65, , , , , , , , ,000 71, , , , , , , , ,000 65, , , , , , , , ,000 60, , , , , , , , ,000 54, , , , , , , , ,000 47, , , , , , , , ,000 40, , , , , , , , ,000 31, , , , , ,000 91, , ,000 21, , , , , ,000 72, , ,000 11, , , , , ,000 52, , , , , ,000 32, , , , , ,000 10, ,813 7,000,000 5,078,372 12,078,372 2,265, ,209 2,735,209-4-

9 EAGLE VAIL METROPOLITAN DISTRICT GOLF OPERATING REVENUES AND EXPENDITURES Golf Revenues Golf - Season Passes 141, ,000 1, , , ,000 1,897 (29,891) , Golf - Punch Cards 32,855 33,000 (6,650) 26,350 26,250 33,000 (6,750) , Golf - Greens Fees 904, ,000 (24,441) 880, , ,000 (5,522) (107) , Golf - Cart Fees 6,130 7,000 (1,965) 5,035 5,115 7,000 (1,885) , Golf - Par 3 Green Fees 75,322 76,000 (1,468) 74,532 74,532 76,000 (1,468) , Golf - Range 74,737 75,000 (1,491) 73,509 76,303 75,000 1, , Advance Reservation Fees 420 1,000 (1,000) 0 9,230 1,000 8, , First Tee Program (1) Cash Over/(Short) Handicap Fee Revenue, Net 3, GPS Advertising Total Golf Revenues 1,239,941 1,272,500 (35,118) 1,237,382 1,268,488 1,272,500 (4,012) (29,998) ,343,000 Other Revenues Rent - Clubs 50,538 48,000 4,196 52,196 44,190 48,000 (3,810) 0 (8,615) 0 (8,615) 46, Miscellaneous Income Pro Shop Merchandise Sales 182, ,000 14, , , ,000 26, , Pro Shop Cost Of Goods Sold (131,133) (119,000) (920) (119,920) (133,925) (119,000) (14,925) 5,304 (6,888) 0 (6,888) (119,000) Total Other Revenues 101,793 99,000 18, , ,559 99,000 7,559 5,304 (14,752) 0 (14,752) 97,000 Total Golf Revenues 1,341,734 1,371,500 (17,105) 1,354,395 1,375,047 1,371,500 3,547 (24,694) (14,751) 0 (14,751) 1,440,000 No assurance is provided on these financial statements; substantially all disclosures required by GAAP omitted. -5-

10 EAGLE VAIL METRO DISTRICT GOLF REC FUND - MAINTENANCE-18 HOLE Golf Maintenance Payroll Salaries - Director of Parks & Golf Maint. (88,856) (86,268) (5,254) (91,522) (91,522) (86,268) (5,254) (9,224) (7,040) (6,636) (404) (91,522) Superintendent-Health Ins. (13,285) (13,885) 0 (13,885) (13,602) (13,885) 283 (1,098) (1,134) (1,185) 52 (13,885) Retirement Benefits - Sup. (7,228) (6,901) (420) (7,322) (7,514) (6,901) (612) (858) (755) (531) (224) (7,322) Total Superintendent (109,369) (107,054) (5,674) (112,728) (112,638) (107,054) (5,584) (11,180) (8,929) (8,352) (577) (112,728) Salaries - Superintendent (60,253) (58,498) (3,563) (62,061) (62,061) (58,498) (3,562) (6,255) (4,774) (4,500) (274) (62,061) Salaries - Mechanic (55,620) (54,000) (5,310) (59,310) (59,310) (54,000) (5,310) (5,774) (4,562) (4,154) (408) (63,000) Salaries - Assistant Superintendent (41,757) (41,000) (2,497) (43,497) (43,497) (41,000) (2,497) (4,384) (3,346) (3,154) (192) (43,497) Hourly Seasonal Staff (232,728) (235,000) 3,690 (231,310) (229,520) (235,000) 5,480 (2,153) (2,489) (2,258) (231) (235,000) Health/Life Insurance (34,097) (35,359) 0 (35,359) (35,033) (35,359) 326 (2,826) (2,919) (2,947) 27 (35,359) Maintenance - Retire. Ben. Salaried (12,750) (12,280) (910) (13,189) (13,433) (12,280) (1,154) (1,453) (1,259) (945) (314) (13,485) Maintenance - Retire. Ben. Hourly (3,179) (3,055) 48 (3,007) (3,116) (3,055) (61) (28) (32) (29) (3) (3,055) Worker's Compensation (4,287) (9,495) (259) (9,754) (3,988) (9,495) 5, (414) 414 (9,902) Payroll Taxes (1,473) (1,424) (39) (1,463) (1,214) (1,424) 211 (320) 0 (62) 62 (1,485) Total Grounds Maintenance Payroll (555,513) (557,166) (14,512) (571,678) (563,809) (557,166) (6,643) (34,242) (28,310) (26,814) (1,496) (579,571) Repair & Replacement Annual Maintenance Items (4,948) (5,500) 0 (5,500) (5,157) (5,500) (5,000) Auto Repairs (1,391) (2,500) 0 (2,500) (2,826) (2,500) (326) 0 (702) 0 (702) (2,500) Cart Path Repairs 0 (5,000) 4,943 (57) (3,997) (5,000) 1, (5,000) Equipment Repairs (27,184) (26,000) 0 (26,000) (28,801) (26,000) (2,801) (501) (179) (229) 49 (25,000) Gas & Oil (25,021) (33,000) 0 (33,000) (19,323) (33,000) 13,677 0 (914) 0 (914) (30,000) Irrigation Repair (12,680) (12,000) (3,502) (15,502) (15,502) (12,000) (3,502) (12,000) Radio Repairs (916) (1,300) 0 (1,300) (329) (1,300) (1,300) Structural Repairs (1,669) (2,500) 0 (2,500) (2,941) (2,500) (441) (18) (147) 0 (147) (2,500) Tree Removal (5,150) Vegatative Management (7,797) (7,200) 0 (7,200) (6,712) (7,200) (7,200) Waterways & Headgate Repair 0 (2,000) 0 (2,000) (134) (2,000) 1, (1,000) Supplies Agricultural Chemicals (39,300) (45,000) 0 (45,000) (41,656) (45,000) 3, (26) (45,000) Horticultural Supplies (1,280) (1,500) 0 (1,500) (164) (1,500) 1, (1,500) Office Supplies & Computers (3,122) (3,000) 0 (3,000) (3,576) (3,000) (576) (103) (603) (53) (551) (3,000) Seeds & Plants (5,495) (8,000) (151) (8,151) (8,151) (8,000) (151) (5,000) Soil & Sand (10,019) (15,000) 0 (15,000) (13,202) (15,000) 1,798 0 (330) 0 (330) (12,000) Supplies - Other (2,975) (8,000) 0 (8,000) (7,346) (8,000) (350) 0 (350) (8,000) Tools And Accessories (5,223) (4,000) 0 (4,000) (3,313) (4,000) 687 (107) (4,000) Other Expenses Dues & Subscriptions (3,508) (3,000) 0 (3,000) (3,075) (3,000) (75) (528) 0 (193) 193 (3,000) Health & Safety (795) (1,000) 0 (1,000) (630) (1,000) (104) 104 (1,000) Land Lease - Nottingham (Escalate In 2012) (3,585) (3,585) 0 (3,585) (3,585) (3,585) (0) (3,585) Maintenance Rentals (1,047) (2,000) 0 (2,000) (2,187) (2,000) (187) (2,000) Maintenance Travel & Training (2,579) (3,000) 0 (3,000) (3,078) (3,000) (78) (23) (135) (202) 67 (3,500) Maintenance Uniforms (3,443) (3,500) (38) (3,538) (3,694) (3,500) (194) 0 0 (80) 80 (3,500) Maintenance Vandalism (296) (500) 0 (500) (79) (500) (500) Utilities Maintenance Utility - Electricity (26,129) (23,625) 0 (23,625) (23,916) (23,625) (291) (656) (684) (633) (51) (23,625) Maintenance Utility - Gas (1,946) (2,060) 0 (2,060) (1,258) (2,060) 802 (202) 0 (233) 233 (2,060) Maintenance Utility - Water/Sewer (2,137) (2,700) 0 (2,700) (2,142) (2,700) 558 (104) (115) (172) 58 (2,700) Maintenance Utility - Telephone (5,677) (4,800) 0 (4,800) (5,979) (4,800) (1,179) (494) (499) (418) (82) (4,800) Maintenance Utility - Trash/Portable Commodes (7,398) (8,240) 0 (8,240) (7,321) (8,240) 919 (458) 0 (444) 444 (8,240) Total Maintenance Operating (207,561) (239,510) 1,252 (238,258) (220,074) (239,510) 19,436 (3,055) (4,519) (2,594) (1,924) (233,660) Total 18 Hole Operating (763,074) (796,676) (13,260) (809,936) (783,883) (796,676) 12,792 (37,297) (32,829) (29,408) (3,420) (813,231) No assurance is provided on these financial statements; substantially all disclosures required by GAAP omitte = = = -6A-

11 EAGLE VAIL METRO DISTRICT GOLF REC FUND - CLUBHOUSE & JANITORIAL CLUBHOUSE & HOLE 2 BATHROOM Janitorial Services (10,571) (12,000) (571) (12,571) (13,055) (12,000) (1,055) (12,000) Clubhouse Repairs/Mtce (1) (10,532) (12,000) 0 (12,000) (8,352) (12,000) 3,648 (327) (97) (1,000) 903 (12,000) Hole 2 Bathroom Repairs/Mtce (630) (1,000) 0 (1,000) 0 (1,000) 1,000 (630) (1,000) Clubhouse Supplies (430) (1,000) 0 (1,000) (251) (1,000) (1,000) Janitorial Supplies (1,945) (2,500) 0 (2,500) (1,547) (2,500) 953 (292) (222) 0 (222) (2,500) Clubhouse Utility - Electric (7,941) (9,000) 0 (9,000) (7,246) (9,000) 1,754 (185) (216) (399) 183 (9,000) Clubhouse Utility - Gas (2,634) (3,500) 0 (3,500) (3,421) (3,500) 79 (350) (3,500) Clubhouse Utility - Water/Sewer (3,777) (3,000) 0 (3,000) (3,671) (3,000) (671) (264) (266) (219) (47) (3,000) Clubhouse Utility - Television (3,367) (2,863) 0 (2,863) (2,698) (2,863) 166 (271) (79) (81) 2 (2,863) Clubhouse Utility - Trash (1,497) (1,400) (129) (1,529) (1,820) (1,400) (420) (1,400) TOTAL CLUBHOUSE (43,325) (48,263) (700) (48,963) (42,060) (48,263) 6,203 (2,319) (880) (1,698) 818 (48,263) No assurance is provided on these financial statements; substantially all disclosures required by GAAP omitte = = = -6B-

12 EAGLE VAIL METRO DISTRICT GOLF REC FUND - PRO SHOP/PAR 3 New Cal Yr Adopted Projected YTD YTD Variance Current Variance Adopted Pro Shop Payroll Director of Golf Base Salary (81,752) (79,371) (4,834) (84,205) (84,205) (79,371) (4,834) (8,487) (6,477) (6,105) (372) (84,205) Health Insurance - Director Of Golf (1) (13,245) (13,842) 0 (13,842) (13,563) (13,842) 280 (1,095) (1,130) (1,182) 51 (13,842) Retire Ben - Golf Pro (7,117) (6,350) (387) (6,736) (7,175) (6,350) (825) (799) (662) (488) (174) (6,736) Total Golf Pro (102,114) (99,563) (5,220) (104,783) (104,942) (99,563) (5,380) (10,380) (8,270) (7,776) (494) (104,783) Salary - Assistant Pro (22,040) (20,000) (1,280) (21,280) (21,280) (20,000) (1,280) (21,000) Salary - Assistant Pro (15,318) (13,500) (275) (13,775) (14,314) (13,500) (814) (14,175) Salary - Assistant Pro (12,347) (13,500) 1,010 (12,490) (12,793) (13,500) (14,175) Wages - Shop Staff Amount (29,134) (32,888) 2,889 (29,999) (31,109) (32,888) 1, (33,875) Hourly - Outside Services Amount (60,448) (61,000) 4,570 (56,430) (58,411) (61,000) 2, (62,830) Hourly - Rangers Amount (17,122) (18,000) 924 (17,076) (17,773) (18,000) (18,540) Seas Staff Incentive Program (7,468) (7,000) 0 (7,000) (7,820) (7,000) (820) (7,210) Pro Shop/Out Svcs Ret Ben - PTS (2,550) (2,248) (206) (2,454) (2,577) (2,248) (329) (2,327) Workers Comp (2,314) (5,045) 60 (4,985) (2,141) (5,045) 2, (122) 122 (5,264) Payroll Taxes (794) (757) 9 (748) (672) (757) 85 (158) 0 (18) 18 (790) Total Other Payroll (169,535) (173,937) 7,701 (166,237) (168,890) (173,937) 5,048 (89) 0 (140) 140 (180,186) Total Payroll (271,649) (273,500) 2,480 (271,020) (273,832) (273,500) (332) (10,470) (8,270) (7,916) (354) (284,969) Pro Shop Operations Advertising & Marketing (64,226) (45,000) 0 (45,000) (40,447) (45,000) 4,553 (3,585) (2,311) (2,512) 201 (45,000) Cart Repair & Maintenance (4,598) (4,000) 1,600 (2,400) (3,097) (4,000) 903 (67) (4,000) Pro Shop Repair & Maintenance (622) (1,500) 0 (1,500) (2,917) (1,500) (1,417) (1,500) Pro Shop Operational Supplies (6,643) (7,500) 0 (7,500) (8,891) (7,500) (1,391) (158) (1,687) (141) (1,547) (7,500) Cart Supplies (2,348) (3,000) 0 (3,000) (1,974) (3,000) 1, (3,000) Range Supplies (3,813) (7,500) 0 (7,500) (4,903) (7,500) 2, (7,500) Credit Card Charges (32,213) (32,890) 897 (31,993) (33,427) (32,890) (537) (50) (339) (43) (296) (34,623) Rental Clubs Expense (6,806) (7,000) 0 (7,000) (63) (7,000) 6, (7,000) 7,000 (7,000) Scorecards 0 (2,000) 0 (2,000) 0 (2,000) 2, (2,000) Pro Shop Travel/Training (2,692) (3,500) (269) (3,769) (3,769) (3,500) (269) (23) (3,500) Pro Shop Uniforms (3,739) (4,500) 1,160 (3,340) (3,340) (4,500) 1, (4,500) Pro Shop Utility - Telephone (4,951) (6,000) 1,000 (5,000) (5,458) (6,000) 542 (444) (450) (499) 50 (6,000) Total Pro Shop Operations (132,651) (124,390) 4,388 (120,002) (108,288) (124,390) 16,102 (4,305) (4,787) (10,172) 5,384 (126,123) No assurance is provided on these financial statements; substantially all disclosures required by GAAP omitte = = = -7A-

13 EAGLE VAIL METRO DISTRICT GOLF REC FUND - PRO SHOP/PAR 3 Willow Creek - Payroll Salaries - Willow Creek Shop Amount (15,070) (14,000) 0 (14,000) (13,764) (14,000) (14,420) Total Willow Creek Payroll (15,070) (14,000) 0 (14,000) (13,764) (14,000) (14,420) Willow Creek - Operations Clubhouse R & M (2,187) (2,000) 0 (2,000) (122) (2,000) 1,878 (175) (2,000) Shop Supplies (130) (1,000) 0 (1,000) (675) (1,000) (1,000) Credit Card Charges (1,288) (1,391) 0 (1,391) (1,457) (1,391) (67) (1,391) Scorecards 0 (1,500) 0 (1,500) 0 (1,500) 1, (1,500) Water/Sewer (1,146) (900) 0 (900) (1,162) (900) (262) (93) (93) (73) (21) (900) Telephone (1,616) (1,800) 0 (1,800) (1,766) (1,800) 34 (145) (148) (151) 3 (1,800) Trash Total Willow Creek Operations (6,367) (8,591) 0 (8,591) (5,183) (8,591) 3,407 (414) (241) (224) (18) (8,591) Total Pro Shop & Willow Creek (425,738) (420,481) 6,868 (413,612) (401,067) (420,481) 19,414 (15,189) (13,298) (18,311) 5,013 (434,102) No assurance is provided on these financial statements; substantially all disclosures required by GAAP omitte = = = -7B-

14 EAGLE VAIL METRO DISTRICT GENERAL AND ADMINISTRATIVE General Administration Community Manager (104,353) (101,314) (6,170) (107,484) (107,484) (101,314) (6,170) (10,833) (8,268) (7,793) (475) (107,484) Administrative Manager (51,626) (50,019) (3,046) (53,065) (53,065) (50,019) (3,046) (5,454) (4,082) (3,848) (234) (53,065) Admin Office Manager (36,050) (35,000) (2,132) (37,132) (31,566) (35,000) 3,434 (3,742) (585) (2,692) 2,108 (37,132) POA Compliance Officer (51,837) (50,327) (3,065) (53,392) (53,392) (50,327) (3,065) (5,381) (4,107) (3,871) (236) (53,392) Admin. Special Project Salaries (1,451) 0 (1,451) (919) 0 (919) Admin. Health Insurance (47,427) (49,637) 0 (49,637) (44,808) (49,637) 4,829 (3,925) (3,037) (4,194) 1,157 (51,374) Admin. Retirement Benefits (20,056) (18,933) (1,153) (20,086) (20,285) (18,933) (1,353) (2,553) (1,835) (1,456) (379) (20,086) Admin. Workers Comp. Ins. (1,936) (4,733) (288) (5,021) (1,858) (4,733) 2, (364) 364 (5,021) Admin. Payroll Taxes (750) (710) (43) (753) (679) (710) 31 (243) 0 (55) 55 (753) Employee Incentives (11,250) (24,000) 0 (24,000) (13,000) (24,000) 11,000 (11,250) (13,000) (24,000) 11, Salary Adjustments and Merit Incr Pool (17,000) 17,000 0 (17,000) 17, (41,000) Wellness Benefit (3,800) (3,500) (500) (4,000) (3,700) (3,500) (200) (3,300) (3,200) (3,500) 300 (3,500) POA Admin Expense Reimbursement 178, , , , , ,849 16,250 16, , Accounting (85,865) (84,342) 0 (84,342) (86,959) (84,342) (2,617) (7,354) (7,092) (7,028) (63) (87,716) Audit (10,900) (11,433) 0 (11,433) (10,900) (11,433) (11,433) Bank Charges (4,300) (3,600) (956) (4,556) (5,492) (3,600) (1,892) (129) (154) (83) (71) (3,600) Consulting (4,115) (7,300) 0 (7,300) (10,328) (7,300) (3,028) 0 (2,538) 0 (2,538) (7,300) Directors Fees (7,100) (8,000) 0 (8,000) (8,900) (8,000) (900) (300) (300) (667) 367 (8,000) Directors Retirement (92) (104) 0 (104) (116) (104) (12) (4) (4) (9) 5 (104) Directors Payroll Taxes 0 (140) 0 (140) 0 (140) (12) 12 (140) Directors Meeting Exp (1,168) (3,600) 0 (3,600) (4,244) (3,600) (644) 0 (518) (300) (218) (3,600) Directors Discretionary 0 (17,000) 0 (17,000) 0 (17,000) 17, (1,417) 1,417 (17,000) Elections (8,248) (6,000) (9,000) (15,000) (18,665) (6,000) (12,665) (102) Employee Recruitment (1,361) (1,500) (2,054) (3,554) (4,496) (1,500) (2,996) (1,500) Employee Relations (2,184) (1,300) 0 (1,300) (1,446) (1,300) (146) (1,924) (952) (108) (843) (1,300) Insurance (51,425) (49,125) 0 (49,125) (50,057) (49,125) (932) (4,201) (4,057) (4,094) 37 (49,125) Legal (52,025) (18,000) (9,000) (27,000) (37,073) (18,000) (19,073) (5,490) 0 (1,500) 1,500 (25,000) Marketing & Advertising (2,810) (21,630) 0 (21,630) (61,284) (21,630) (39,654) 0 (1,017) 0 (1,017) (21,630) Marketing & Advertising Allocation 49, ,027 2,801 2, Business District (16,885) (30,000) 0 (30,000) (15,867) (30,000) 14,133 (3,410) (3,023) 0 (3,023) (15,000) Meeting TV Recording (2,500) (3,000) 0 (3,000) (2,800) (3,000) 200 (250) (250) (250) 0 (5,250) Public Relations (9,220) (5,000) (3,344) (8,344) (6,039) (5,000) (1,039) 381 (624) (417) (207) (5,000) Vail Valley Partnership (5,000) (5,000) 0 (5,000) (5,000) (5,000) (2,500) Office Expense (16,107) (16,000) 0 (16,000) (17,347) (16,000) (1,347) (1,587) (789) (1,584) 795 (16,000) Repair/Replacement (Incl Computers) (2,606) (8,000) 4,000 (4,000) (1,739) (8,000) 6,261 0 (1,159) (213) (946) (4,000) Security Monitoring (6,205) (6,200) (5) (6,205) (6,205) (6,200) (5) (6,205) Special District Association Dues (1,238) (1,250) 12 (1,238) (1,238) (1,250) (1,250) Admin. Travel & Training & Auto Reimb (7,418) (8,000) (380) (8,380) (9,730) (8,000) (1,730) (947) (400) (475) 75 (8,000) Treasurers Fees (Eagle County) (30,007) (36,143) 0 (36,143) (35,944) (36,143) 199 (15) (67) (79) 12 (35,932) POA Truck (804) (2,400) 0 (2,400) 0 (2,400) 2, (2,400) Admin. Telephone & Hosted Exchange (11,330) (12,000) 0 (12,000) (15,347) (12,000) (3,347) (950) (1,924) 8,234 (10,158) (12,000) Web Site Maintenance (2,536) (12,500) 0 (12,500) (14,765) (12,500) (2,265) (2,000) FICA Medicare Expense All Departments (18,273) (14,408) (3,592) (18,000) (18,364) (14,408) (3,956) (1,053) (900) (546) (354) (18,571) Contingency (14,000) 0 (14,000) (14,000) 14,000 (14,000) 14,000 (14,000) Total General and Administration (512,615) (567,148) (23,716) (590,864) (537,605) (567,148) 29,543 (59,102) (45,751) (60,072) 14,320 (558,363) No assurance is provided on these financial statements; substantially all disclosures required by GAAP omitte = = = -8-

15 EAGLE VAIL METRO DISTRICT FOOD & BEVERAGE OPERATIONS Revenues - Food and Beverage F&B Sales - Par 3 4,176 4,000 (658) 3,342 3,342 4,000 (658) , F&B Sales - 18 Hole Course 110, , , , ,000 3, , F&B Sales - Pool 8,488 9,000 (1,527) 7,473 7,473 9,000 (1,527) , Beer Sales 73,431 68,000 8,927 76,927 79,308 68,000 11, , Liquor Sales 26,231 28,000 1,369 29,369 30,593 28,000 2, , Wine Sales 1,205 1, ,730 1,774 1, ,500 Total Food and Beverage Revenues 224, ,500 8, , , ,500 15, ,500 Cost of Sales Food Cost Of Sales (59,111) (53,760) (2,572) (56,332) (58,840) (53,760) (5,080) (53,760) Food Cost Percent 48% 42% 45% 46% 42% 0% 0% 0% 42% Beer Cost Of Sales (25,075) (21,760) (3,553) (25,313) (26,833) (21,760) (5,073) (21,760) Beer Cost Percent 34% 32% 33% 34% 32% 0% 0% 0% 32% Liquor Cost Of Sales (4,505) (4,200) (1,247) (5,447) (6,076) (4,200) (1,876) (4,200) Liquor Cost Percent 17% 15% 19% 20% 15% 0% 0% 0% 15% Wine Cost Of Sales (478) (375) (181) (556) (574) (375) (199) (375) Wine Cost Percent 40% 25% 32% 32% 25% 0% 0% 0% 25% Total Cost of Sales (89,168) (80,095) (7,553) (87,648) (92,323) (80,095) (12,228) (80,095) Total Cost Percent 40% 36% 37% 38% 36% 0% 0% 0% 35% Gross Profit 135, ,405 1, , , ,405 2, ,405 Expenses - Food and Beverage Direct Wages - Hole 11 (28,145) (30,000) 598 (29,402) (30,531) (30,000) (531) (30,000) Wages - Whiskey Hill (65,308) (60,000) 0 (60,000) (57,517) (60,000) 2, (60,000) Retire Bene-PTS (1,228) (1,170) 0 (1,170) (1,113) (1,170) (1,170) Workers Comp (920) (1,800) 0 (1,800) (765) (1,800) 1, (1,800) Payroll Tax Expense (260) (270) 0 (270) (245) (270) 25 (4) 0 (4) 4 (270) Advertising 0 (500) 0 (500) 0 (500) (500) Credit Card/Bank Fees (4,008) (5,148) 0 (5,148) (3,764) (5,148) 1,384 (12) (15) (15) 0 (5,148) Repairs/Maintenance-Clubhouse (4,362) (4,000) 0 (4,000) (3,087) (4,000) (5,000) Supplies - Cleaning (2,268) (1,500) (938) (2,438) (2,486) (1,500) (986) (1,500) Supplies - Miscellaneous (1,307) (2,500) 0 (2,500) (667) (2,500) 1, (2,500) Supplies - Office 0 (980) 0 (980) 0 (980) (980) Supplies - Paper & Plastic (5,052) (5,000) (526) (5,526) (5,526) (5,000) (526) (5,000) Computers & Cash Registers (54) (500) 0 (500) 0 (500) (500) License/Dues (1,346) (1,000) 0 (1,000) (1,155) (1,000) (155) (430) 0 (319) 319 (1,000) Spoilage (Or Comps & Employee Discounts) (1,202) (2,000) 1,506 (494) (1,690) (2,000) (2,000) Uniforms (2,000) (2,500) 0 (2,500) (2,287) (2,500) (2,500) Utility - Electricity Clubhouse (2,882) (3,000) 0 (3,000) (2,650) (3,000) 350 (81) (92) (85) (7) (3,000) Utility - Gas Clubhouse (878) (1,000) (8) (1,008) (1,140) (1,000) (140) (117) 0 (133) 133 (1,000) Utility - Water/Sewer Clubhouse (1,256) (1,000) (39) (1,039) (1,224) (1,000) (224) (88) (89) (70) (19) (1,000) Utility - Telephone Clubhouse (785) (1,800) 1,000 (800) (789) (1,800) 1,011 (65) (66) (150) 84 (1,800) Utility - Television Clubhouse (2,288) (1,900) 0 (1,900) (2,064) (1,900) (164) (184) (132) (153) 20 (1,900) Utility - Trash Clubhouse (499) (550) 0 (550) (607) (550) (57) (550) Repairs/Maintenence-Hole 11 (1,606) (2,500) 0 (2,500) (1,610) (2,500) 890 (119) 0 (185) 185 (3,000) Utiltiy - Electricity-Hole 11 (2,042) (1,800) 0 (1,800) (2,145) (1,800) (345) (121) (41) (106) 65 (2,340) Utility - Water/Sewer-Hole 11 (1,038) (1,200) 0 (1,200) (1,010) (1,200) 190 (61) (61) (70) 10 (1,200) Utility - Trash-Hole 11 (375) (825) 0 (825) (390) (825) (825) Vandalism-Hole Total Food and Beverage Expense (131,110) (134,443) 1,593 (132,850) (124,461) (134,443) 9,982 (1,282) (495) (1,291) 796 (136,483) Total Food & Beverage Surplus (Deficit) 4,076 10,962 2,817 13,779 23,731 10,962 12,770 (1,143) (495) (1,291) ,922 No assurance is provided on these financial statements; substantially all disclosures required by GAAP omitted. = -9-

16 EAGLE VAIL METROPOLITAN DISTRICT PARKS & REC CAPITAL AND PROJECTS Acct Var Variance 2016 Prelim To Budget To Favor Mo Actual Actual Budget Favor 2017 No Account Ref Actual Budget Fav(Unfav) Forecast 12/31/16 12/31/16 (Unfavor) 12/31/ /31/ /31/16 (Unfavor) Budget Highway 6 Save a Tree Highway 6 Save a Tree Traffic, Miscellaneous Speed Tables, Radar Control Signs, Striping (11,105) (16,000) 15,000 (1,000) (315) (16,000) 15,685 0 (200) 0 (200) (16,000) Additional Crosswalks Stone Creek Sidewalk/Drainage (1) A (956) (120,000) 120, (120,000) 120, Stone Creek Sidewalk/Drainage Co Match (1) B 0 42,500 (42,500) ,500 (42,500) ,500 (42,500) Business District C (14,077) (30,000) 10,000 (20,000) (20,097) (30,000) 9,903 (5,816) (19,817) 0 (19,817) Business District Signs (2,783) Planning and Engineering (Master Plan) (27,218) (15,000) 13,000 (2,000) (1,846) (15,000) 13,154 (3,785) AED Units Ski Lift Fatal Flaws Analysis or Other Surveys (Requires Further Board Approval before Spending) (10,000) Total Design Amenities, Traffic, Misc Capital (56,138) (138,500) 115,500 (23,000) (22,258) (138,500) 116,242 (9,601) (20,017) 42,500 (62,517) (26,000) Pool Shade Structure Flooring (5,300) (24,000) 13,000 (11,000) (10,412) (24,000) 13, Seal Pool Deck & Caulk Deck Joints (2,142) (2,142) (1,725) 0 (1,725) Chlorine Generator Cells (20,000) 1,740 (18,260) (18,260) (20,000) 1, Solar System Repair Repair/Replace Slide (5,000) 2,900 (2,100) (2,084) (5,000) 2, Pool Construction Defects Costs Total Pool Capital (5,213) (49,000) 15,498 (33,502) (32,480) (49,000) 16, Courts Courts and Landscaping (376,800) Courts Building (90,000) Contingency (23,340) Total Tennis Capital (490,140) Pavilion Pavilion Per Replacement Reserve 0 (49,750) 7,750 (42,000) (41,795) (49,750) 7, Pavilion Other Misc Constr Costs (4,164) (5,000) 5, (5,000) 5, Pavilion Paint Interior (8,358) Pavilion Wood Floors (13,259) Total Pavailion Capital (17,423) (54,750) 12,750 (42,000) (41,795) (54,750) 12, (8,358) Fire Station Building Capital Parks, Trails and Paths 0 Soccer & Baseball Fields Pavilion Park Construction Phase 1 (38,535) Pavilion Park Phase (350,000) 350, (350,000) Pavilion Park GO CO Grant ,000 (350,000) , Playground Equipment (16,755) (47,500) 14,500 (33,000) (42,216) (47,500) 5, Shade Structure Pavilion Park (10,000) 0 (10,000) (10,000) 10, Park Benches, Picnic Tables (Recycling Container in (11,738) (8,000) 0 (8,000) (7,009) (8,000) Holland's Park Master Plan Enhancements Tree Removal in Parks 0 (10,000) 2,200 (7,800) (9,847) (10,000) Trails Construction (1,770) (25,000) 19,900 (5,100) (11,335) (25,000) 13,665 0 (735) 0 (735) (60,000) Highway 6 Fence Repair & Painting (11,000) Total Parks, Trails and Paths (79,797) (100,500) 36,600 (63,900) (70,406) (100,500) 30,094 0 (735) 0 (735) (60,000) EVPOA Contribution 142, ,250 (110,848) 98, , ,250 (106,049) 142, , ,250 (106,049) 198,500 Total Page 10A (15,826) (133,500) 69,500 (64,000) (63,738) (133,500) 69, ,145 82, ,750 (169,300) (385,998) No assurance is provided on these financial statements; substantially all disclosures required by GAAP omitted. = = -10A-