The Landings Yacht Golf & Tennis Club, Inc.

Transcription

1 The Landings Yacht Golf & Tennis Club, Inc. For The Month Ending February 28, 2016 Fiscal Period 5

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 February 2017 Monthly Overview: MTD Actual Budget Var. Last Year Var Total Revenue $922,665 $892,372 $30,923 $895,028 $27,637 MTD Actual Budget Var. Last Year Var. Operating Profit $187,536 $164,925 $22,611 $169,810 $17,726 YTD Actual Budget Var. Last Year Var Total Revenue $4,151,961 $4,062,786 $89,175 $4,016,422 $135,539 YTD Actual Budget Var. Last Year Var Operating Profit $603,425 $492,073 $111,352 $533,038 $70,387 Summary: For the current period ending February 2017, Club Revenue came in at $922,665 versus a budget of $892,372 for a positive variance of $30,293. Gross Operating Profit for the month was $187,536 compared to a budget of $164,925 for a positive variance of $22,611. The Food and Beverage Department had revenues of $241,780 compared to a budget of $239,128 resulting in a positive variance of $2,652. Cost of sales for food came in at 36.2% for the month on a budget of 41.3% and beverage costs were 32.9% compared to a budget of 32%. Wages and Benefits were slightly under budget at 48.1% of revenue vs. a budget of 51% of revenue. Operational expenses for the department were $37,872 compared to a budgeted operational expense for the month of $42,283 for a positive variance of $4,411. Year to date profit/loss is ($102,009) compared to a budget of ($173,654) for a positive variance of $71,645. The Golf Department had a month with revenues of $41,698 compared to a budget of $43,038, for a negative variance of ($1,340). Cost of Merchandise sales were 51% compared to a budget of 73%. Total Departmental expenses for the month came in over budget by $581. Departmental profit for the month was $2,419 compared to a budget of $944 for a positive variance of $1,475. Year to date the Golf 1

4 department is under the net loss budget by $20,355. Year to date revenues are over budget by $4,885 and over last year to date by $4,034. Year to date other operating expenses are over budget by ($1,140). The Tennis Department was over budget for the month in revenues, and over budget overall for the year. Merchandise Sales were over budget for the month. Tennis Lesson Revenue was over budget for the month. Cost of sales for the month was at 60.5% for the month. The Departmental loss for the month was ($14,496) compared to a budgeted expense of ($17,994) resulting in a positive variance of $3,499. Year to Date the Tennis department is exceeding budget in revenues by $11,076. Overall, the Tennis Department has a year to date departmental loss of ($82,048) and is under budget for the year $12,570. The Marina Department continues to have strong months with overall revenues coming in over budget by $24,184. This overage is primarily due to fuel sales revenue being over what was budgeted. Profit on fuel was higher than budget because of our pricing. Fuel pricing at the pump was $.19 a gallon less than what was budgeted for revenue; however, we exceeded our budgeted gallons (22,800) by 10,556 gallons (33,356) for gas. We also exceeded our budgeted profit for gallons by.0.09 cents per gallon. Subcontractor month revenues were less ($43,340) than what was budgeted ($55,000) for a negative variance of ($11,660). This was due to cold weather for the month and less boat usage. Merchandise sales were under budget as well coming in at $17,394 compared to a budget of $20,000 for a negative variance of ($2,606). Year to date revenues are higher than budget by $101,230. The department showed a profit for the month of $18,768 compared to a budget of $9,380 for a positive variance of $9,388. Year to date the Marina Department is over budget in departmental profit by $30,939. Administrative and general was under budget with a departmental expense of $61,670 compared to a budget of $63,195 with the small positive variance in Wages and Benefits, and in Other Expenses, The Community Patrol Department was over budget by $214. Departmental expense for the month was $27,627 compared to a budget of $27,413, the negative variance being mostly due to additional salaries & wages for Beers, Brats & Bands. Year to date expenses of $141,214 are under the budgeted amount of $146,207 by $4,993. Golf Course Maintenance is over budget $4,992 this month and over budget $10,880 YTD. Payroll is over $5,310 YTD and Chemicals $3,811 YTD. These are two categories contributing most of our overage and are a directly related to our warmer than normal winter. We will be monitoring and regulating as much as possible without allowing are conditions to decline. Property Maintenance Department was over budget $2,413 this month and $11,514 YTD. We have several categories contributing to these overages. We will monitor and adjust when possible without sacrificing the amenities our members expect. Monthly Utilities were over budget for the month with actual expenses of $34,499 compared to a budget of $29,044 with the variance being in water due to the timing of billing by the County for reclaimed water for the month of $8,112. 2

5 FEBRUARY 2017 Accounts Receivable: Delinquent Dues and House Receivables: The club currently has one account with counsel in Probate Court. The current balance of delinquent membership accounts is $ The current list has 1 account. One new account was added. Capital Contributions: During the month of February 2017, the Club received $20, in capital contribution funds. This contribution amount was made up of 5 sales and 1 refund. The Year to Date capital fund contribution amount is $144, The Year to Date Contribution amount is made up of 35 Sales and 6 refunds. Cash Balances: For the Month, ending February 2017 the Club had a Capital Reserve Fund cash balance of $773,836 and an Operating cash balance of $649,037. Food & Beverage Department: MTD Actual Budget Var. Last Year Var Total Revenue $241,780 $239,128 $2,652 $242,824 ($1,044) MTD Actual Budget Var. Last Year Var Profit/(Loss) $9,822 ($8,775) $18,597 ($9,661) $19,483 YTD Actual Budget Var. Last Year Var Profit/(Loss) ($102,009) ($173,654) $71,645 ($179,693) $77,684 Items of Note: Food Cost was under budget by 5.1% for the month which continues our trend of waste reduction and many products being made in-house versus procuring from a vendor. China Glass and Silver was over budget by $1,149 but is under budget year to date. Cleaning Supplies was under budget by $861 as the monies were not utilized this month but will be in future months as the need arises Equipment Rental was under budget by $1,600 due to savings on rental equipment for the Beer Brats and Band event. 3

6 Maintenance Contracts was over budget by $2,451 as the carpet cleaning was scheduled for February instead of January but is under budget year to date. Music and Entertainment was under budget by $3,100 as we were able to secure better deals on entertainment then originally budgeted. Golf Department: MTD Actual Budget Var. Last Year Var. Golf Rounds 3,739 4,242 (503) 3,924 (185) Total Rev/Round (.39) Total Revenue 41,698 43,038 (1,340) 45,266 (4,228) NOI 2, ,475 2,762 (343) Items of Note: Overall Expenses for the month came in over budget by $1,321. This includes all wages and other expenses categories. Cost of Sales 51%, which is under the projected COS budget of 73%, by 22%. Although total merchandise sales were under the projected budget, the extremely low COS for the month allowed for more overall profit on what was sold. Total Golf Revenue was under budget by $1,340. Cart revenue was up by $750, The Department lost over 200 rounds in February due to weather. Departmental Profit/Loss the Golf Dept. ended the month with a profit of $2,419, compared to a budgeted profit of $944, for a positive variance of $1,340. Tennis Department: MTD Actual Budget Var. Last Year Var. Total Revenue $25,117 $21,518 $3,599 $25,074 $43 NOI ($14,444) ($17,994) $3,550 ($12,771) ($1,673) Items of Note: Tennis Lessons continues to regain strength Contract Labor this position for this budget was originally budgeted under Salaries & Wages and the pro was to be made a Landings Employee. When season started, we changed what we were going to do and made the new pro an independent contractor. 4

7 Marketing we did not advertise the Summer Camp as we have done in the past. Member Events expenses will show in March. Operating Supplies the amount is up over budget due to a change in tennis balls for the teaching baskets. Overall, for the year the department is under budget by $12,570. Marina Department: MTD Actual Budget Var. Last Year Var. Total Revenue $196,072 $171,888 $24,184 $174,755 $21,317 NOI $18,768 $9,380 $9,388 $20,061 ($1,293) Items of Note: Fuel Sales gallon sales continue to be strong and gallons are exceeding budget Year to date operating profit exceeds budget by $30,939. Total revenue is ahead of budget by $101,230 Administrative & General Department: MTD Actual Budget Var. Last Year Var Dept. Expense $61,670 $63,195 $1,525 $65,044 $3.374 Items of Note: No major variances of note for the month. Community Patrol Department: MTD Actual Budget Var. Last Year Var Dept. Expense $27,627 $27,413 $214 $26,057 ($1,570) 5

8 Golf Course Maintenance Department: MTD Actual Budget Var. Last Year Var Dept. Expense $65,682 $60,690 $4,992 $60,512 $5,170 Items of Note: Building Maintenance is over budget $1,460 due to unforeseen plumbing repairs #15 restroom. Fuel & Lubricants is over $426 due to a warmer winter and increased mowing. Sand & Cinders is over budget due to additional topdressing needs. Property Maintenance Department: MTD Actual Budget Var. Last Year Var Dept. Expense $57,499 $55,086 $2,413 $58,216 ($717) Items of Note: Grounds & Landscaping is over budget $3,010 due to a delayed January billing. Maintenance Contracts is over budget $1,389 due to irrigation repairs made during our contracted routine maintenance. Operating Supplies (housekeeping) is over budget $1,658 due to needed supplies 6

9 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. BALANCE SHEET February 28, 2017 Same Month Current Month Previous Month Last Year ASSETS Cash CASH - OPERATING 649, , ,021 CASH - CAPITAL RESERVE FUNDS 505, , ,606 CASH - UTILITY INFRASTRUCTURE SET-ASIDE 268, , ,500 Total Cash 1,422,873 1,175,754 1,207,127 Account Receivable ACCOUNTS RECEIVABLE - MEMBER ACCOUNTS 803, , ,257 ALLOWANCE FOR DOUBTFUL ACCOUNTS (11,590) 33,440 (7,443) Total Accounts Receivable 792, , ,813 Inventory INVENTORY - FOOD 34,831 33,626 34,836 INVENTORY - BEVERAGE 41,841 42,242 45,780 INVENTORY - GATE TRANSMITTER ,887 INVENTORY - TENNIS PRO SHOP 33,246 35,341 77,603 INVENTORY - GOLF PRO SHOP 40,240 43,174 49,990 INVENTORY - MARINA SHOP 70,890 73,447 73,672 INVENTORY - MARINA FUEL 19,738 14,703 11,219 Total Inventory 241, , ,986 Prepaid Expenses PREPAID INSURANCE 195, , ,656 PREPAID OTHER 55,407 60,396 58,575 Total Prepaid Expenses 250, , ,231 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 561, , ,965 CAPITALIZED LOAN FEES 134, ,739 99,580 WIP CLUBHOUSE INFRASTRUCTURE LESS ACCUMULATED DEPRECIATION (12,059,380) (11,948,112) (10,740,018) Total Net Fixed Assets 18,478,295 18,562,135 18,838,742 Other Assets DEPOSITS - BEVERAGE ESCROW 3,500 3,500 3,500 DEPOSITS 1,401 1,401 1,401 Total Other Assets 4,901 4,901 4,901 Total Assets 21,190,484 21,104,078 21,560,801 7

10 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. BALANCE SHEET February 28, 2017 Same Month Current Year Previous Month Last Year LIABILITIES AND EQUITY Accounts Payable ACCOUNTS PAYABLE - TRADE 173, , ,595 ACCOUNTS PAYABLE - INSURANCE 127, , ,913 ACCOUNTS PAYABLE - SALES TAX 25,446 20,972 (4,829) ACCOUNTS PAYABLE - GRATUITIES 9,796 7,069 4,047 LOAN PAYABLE - BANK OF AMERICA CURRENT 609, , ,063 Total Accounts Payable 945, , ,789 Accrued Liabilities ACCRUED OTHER 19,121 14,120 15,670 ACCRUED UTILITIES 2,665 3,485 17,477 ACCRUED PAYROLL 211, , ,624 ACCRUED BONUS (17,768) (21,064) 7,549 ACCRUED VACATION 46,566 47,337 29,003 ACCRUED AUDIT FEE 0 4,085 9,885 DEPOSITS/SWEEPS/GIFT CERTIFICATES 52,101 42,976 48,583 DEFERRED REVENUE 535, , ,429 Total Accrued Liabilities 849, , ,221 Long Term Liabilities LOAN PAYABLE - BANK OF AMERICA LONG TERM 2,518,515 2,544,410 3,130,336 Total Long Term Liabilities 2,518,515 2,544,410 3,130,336 Funds REPLACEMENT FUNDS - CONTRIBUTIONS 6,805,156 6,750,668 6,167,051 REPLACEMENT FUNDS - EXPENDITURES (9,433,094) (9,403,227) (8,484,764) CAPITAL FUND - CONTRIBUTIONS 3,180,623 3,160,623 2,830,623 HELM CLUB CAPITAL CONTRIBUTIONS 1,274,494 1,274,494 1,274,494 Total Funds 1,827,180 1,782,559 1,787,404 Total Liabilities 6,140,734 6,108,988 6,668,749 Member's Equity CAPITAL FUND EXPENDITURES 449, , ,860 PRIOR YEAR MEMBER'S EQUITY 14,789,586 14,789,586 14,761,954 CURRENT YEAR INCOME/(LOSS) (189,510) (214,304) (304,761) Total Member's Equity 15,049,750 14,995,089 14,892,052 Total Liabilities & Member's Equity 21,190,484 21,104,078 21,560,801 8

11 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. SUMMARY PROFIT & LOSS February 28, 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 922, % 892, % 895, % TOTAL REVENUE 4,151, % 4,062, % 4,016, % FOOD & BEVERAGE 241, % 239, % 242, % Total F&B Revenue 912, % 949, % 888, % 116, % 121, % 123, % Wages & Benefits 567, % 606, % 591, % 55, % 63, % 67, % Food Cost Of Sales 215, % 261, % 243, % 22, % 20, % 19, % Beverage Cost Of Sales 83, % 85, % 81, % 37, % 42, % 42, % Other Expenses 147, % 169, % 151, % 9, % (8,775) -3.7% (9,661) -4.0% FOOD & BEVERAGE PROFIT/(LOSS) (102,009) -11.2% (173,654) -18.3% (179,693) -20.2% GOLF OPERATIONS PROFIT/(LOSS) 41, % 43, % 45, % Total Pro Shop Revenue 164, % 160, % 160, % 26, % 26, % 28, % Wages & Benefits 123, % 129, % 117, % 4, % 9, % 9, % Cost Of Sales 25, % 35, % 37, % 7, % 6, % 5, % Other Expenses 36, % 35, % 31, % 2, % % 2, % GOLF OPERATIONS PROFIT/(LOSS) (20,165) -12.2% (40,520) -25.3% (25,539) -15.9% TENNIS OPERATIONS PROFIT/(LOSS) 25, % 21, % 25, % Total Pro Shop Revenue 125, % 114, % 126, % 25, % 30, % 25, % Wages & Benefits 144, % 144, % 130, % 4, % 5, % 3, % Cost Of Sales 26, % 32, % 31, % 9, % 3, % 8, % Other Expenses 36, % 32, % 45, % (14,496) -57.7% (17,994) -83.6% (12,771) -50.9% TENNIS OPERATIONS PROFIT/(LOSS) (82,048) -65.4% (94,618) -82.8% (80,315) -63.4% MARINA OPERATIONS PROFIT/(LOSS) 196, % 171, % 174, % Total Marina Revenue 858, % 757, % 793, % 21, % 20, % 21, % Wages & Benefits 109, % 106, % 105, % 147, % 133, % 127, % Cost Of Sales 658, % 586, % 599, % 8, % 8, % 5, % Other Expenses 37, % 41, % 35, % 18, % 9, % 20, % MARINA OPERATIONS PROFIT/(LOSS) 53, % 22, % 52, % 417, % 416, % 407, % TOTAL MISCELLANEOUS INCOME 2,090, % 2,081, % 2,047, % OVERHEAD DEPARTMENTS 61, % 63, % 65, % Administrative & General 368, % 363, % 382, % 27, % 27, % 26, % Community Patrol 141, % 146, % 139, % 65, % 60, % 60, % Golf Course Maintenance 377, % 366, % 350, % 57, % 55, % 58, % Property Maintenance 291, % 280, % 271, % 34, % 29, % 27, % Utilities 157, % 146, % 136, % 246, % 235, % 237, % TOTAL OVERHEAD DEPARTMENT EXPENSE 1,336, % 1,302, % 1,281, % 187, % 164, % 169, % GROSS OPERATING PROFIT/(LOSS) 603, % 492, % 533, % 29, % 32, % 33, % Insurance 142, % 164, % 171, % 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% Taxes Personal Property - Lease 6, % 7, % 7, % 0 0.0% 0 0.0% 0 0.0% Taxes - Income Tax 0 0.0% 0 0.0% 0 0.0% 8, % 8, % 9, % Management Fees 42, % 42, % 45, % 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% 149, % 123, % 127, % PROFIT/(LOSS) BEFORE DEP/AMORT/INT 406, % 276, % 308, % 113, % 100, % 100, % Depreciation & Amortization 515, % 501, % 501, % 10, % 18, % 22, % Interest 80, % 93, % 112, % 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% 24, % 4, % 4, % NET INCOME/(LOSS) (189,510) -4.6% (317,541) -7.8% (304,761) -7.6% 9

12 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. COMBINED FOOD & BEVERAGE DEPARTMENTAL PROFIT & LOSS February 28, 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 117, % 107, % 110, % Dining Room 414, % 444, % 410, % 35, % 45, % 43, % Banquet 188, % 189, % 179, % 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% 153, % 153, % 153, % TOTAL FOOD REVENUE 603, % 633, % 589, % BEVERAGE REVENUE 53, % 50, % 48, % Dining Room 204, % 211, % 195, % 13, % 13, % 16, % Banquet 63, % 56, % 60, % 0 0.0% 0 0.0% 0 0.0% Patio 0 0.0% 0 0.0% 0 0.0% 67, % 63, % 65, % TOTAL BEVERAGE REVENUE 267, % 268, % 255, % OTHER REVENUE 3, % 3, % 3, % Helm Club Dues 17, % 18, % 18, % 17, % 18, % 19, % Miscellaneous 24, % 28, % 24, % 20, % 21, % 23, % TOTAL OTHER REVENUE 42, % 47, % 42, % 241, % 239, % 242, % TOTAL FOOD & BEVERAGE REVENUE 912, % 949, % 888, % COST OF SALES 55, % 63, % 67, % Food Cost of Sales 215, % 261, % 243, % 22, % 20, % 19, % Beverage Cost of Sales 83, % 85, % 81, % 77, % 83, % 86, % TOTAL COST OF SALES 299, % 347, % 324, % WAGES & BENEFITS 44, % 46, % 47, % Salaries & Wages - Dining Room 217, % 224, % 215, % 43, % 43, % 41, % Salaries & Wages - Kitchen 202, % 221, % 207, % 18, % 17, % 19, % Payroll Burden 86, % 86, % 85, % 4, % 3, % 3, % Employee Meals 21, % 17, % 18, % 3, % 7, % 7, % Group Insurance 20, % 37, % 38, % 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% % 2, % 2, % Vacation/Holiday 15, % 14, % 19, % % % % 401(k) Program 2, % 2, % 2, % % % % Miscellaneous 2, % 1, % 2, % 116, % 121, % 123, % TOTAL WAGES & BENEFITS 567, % 606, % 591, % OTHER EXPENSES % % % Advertising - Help Wanted % % 1, % 3 0.0% 0 0.0% % Banquet Supplies 2, % 3, % % % % % Cable TV 2, % 2, % 2, % 0 0.0% 0 0.0% 0 0.0% Cash ( Over ) / Short 0 0.0% 0 0.0% (16) 0.0% 1, % % % China/Glass/Silverware 6, % 9, % 6, % % 1, % 1, % Cleaning Supplies 5, % 6, % 6, % 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% 0 0.0% Contract Labor % % % 2, % 2, % 2, % Credit Card Discounts Fees 8, % 8, % 7, % % % % Decorations 4, % 5, % 4, % 0 0.0% 0 0.0% % Dues & Subscriptions 2, % 2, % % 6, % 7, % 8, % Equipment Rental 7, % 9, % 9, % 0 0.0% 0 0.0% % Gasoline & Oil % 0 0.0% % 0 0.0% % 0 0.0% Kitchen Equipment % % % 2, % 3, % 4, % Laundry & Linen 12, % 14, % 16, % 1, % 1, % 1, % Leased Equipment 6, % 5, % 5, % % % % License & Fees 1, % 1, % 1, % 0 0.0% 0 0.0% 0 0.0% Locker Room Supplies 0 0.0% 0 0.0% 0 0.0% 3, % 1, % % Maintenance Contracts 9, % 11, % 7, % 1, % 2, % 1, % Maintenance & Repairs 7, % 9, % 8, % % % % Marketing & Advertising 1, % 1, % 1, % 0 0.0% 0 0.0% 0 0.0% Menus & Drink List 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% 1, % 1, % 2, % Miscellaneous 3, % 2, % 4, % 8, % 11, % 9, % Music & Entertainment 32, % 36, % 33, % % % % Office Expense 1, % 1, % 1, % 2, % 2, % 1, % Operating Supplies 8, % 9, % 11, % 1, % 2, % 1, % Paper & Plastic 8, % 8, % 7, % 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% 0 0.0% 1, % 1, % 1, % Promotions 6, % 5, % 4, % 0 0.0% 0 0.0% 0 0.0% Table & Bar Supplies 0 0.0% 0 0.0% 0 0.0% % % % Telephone 3, % 4, % 4, % 0 0.0% 0 0.0% 0 0.0% Travel 0 0.0% 0 0.0% 0 0.0% % % % Uniforms 2, % 5, % 4, % % % % Utensils % 1, % % 37, % 42, % 42, % TOTAL OTHER EXPENSES 147, % 169, % 151, % 9, % (8,775) -3.7% (9,661) -4.0% DEPARTMENTAL PROFIT/(LOSS) (102,009) -11.2% (173,654) -18.3% (179,693) -20.2% 10

13 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. WHEELHOUSE RESTAURANT DEPARTMENTAL PROFIT & LOSS February 28, 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 86, % 75, % 77, % Dining Room 292, % 326, % 294, % 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% 86, % 75, % 77, % TOTAL FOOD REVENUE 292, % 326, % 294, % BEVERAGE REVENUE 34, % 31, % 31, % Dining Room 127, % 143, % 128, % 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% 34, % 31, % 31, % TOTAL BEVERAGE REVENUE 127, % 143, % 128, % 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% 120, % 107, % 109, % TOTAL FOOD & BEVERAGE REVENUE 420, % 469, % 422, % COST OF SALES 31, % 29, % 31, % Food Cost of Sales 107, % 128, % 113, % 11, % 10, % 9, % Beverage Cost of Sales 42, % 45, % 42, % 43, % 40, % 40, % TOTAL COST OF SALES 149, % 174, % 155, % WAGES & BENEFITS 22, % 24, % 24, % Salaries & Wages - Dining Room 106, % 117, % 113, % 23, % 21, % 20, % Salaries & Wages - Kitchen 108, % 107, % 99, % 11, % 10, % 11, % Payroll Burden 48, % 49, % 48, % 2, % 2, % 2, % Employee Meals 12, % 10, % 12, % 2, % 4, % 4, % Group Insurance 14, % 21, % 23, % 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% % 1, % 1, % Vacation/Holiday 10, % 9, % 12, % % % % 401(k) Program 1, % 1, % 1, % % % % Miscellaneous 1, % 1, % 1, % 62, % 64, % 65, % TOTAL WAGES & BENEFITS 303, % 318, % 312, % OTHER EXPENSES 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 1, % 1, % 1, % 0 0.0% 0 0.0% 0 0.0% Cash ( Over ) / Short 0 0.0% 0 0.0% (12) 0.0% 1, % % % China/Glass/Silverware 4, % 5, % 3, % % % % Cleaning Supplies 2, % 2, % 1, % 0 0.0% 0 0.0% 0 0.0% Clubhouse Cleaning 0 0.0% 0 0.0% 0 0.0% 1, % 1, % 1, % Credit Card Discounts Fees 5, % 5, % 5, % 0 0.0% 0 0.0% 0 0.0% Decorations 0 0.0% % % 0 0.0% 0 0.0% 0 0.0% Dues & Subscriptions 1, % 1, % 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% % Gasoline & Oil % 0 0.0% % 0 0.0% % 0 0.0% Kitchen Equipment % % 0 0.0% 1, % 1, % 1, % Laundry & Linen 4, % 4, % 6, % % % % Leased Equipment 2, % 2, % 1, % 0 0.0% 0 0.0% % License & Fees % % % % % % Maintenance Contracts 3, % 4, % 2, % % % % Maintenance & Repairs 2, % 2, % 2, % 0 0.0% 0 0.0% 0 0.0% Meals & Entertainment 0 0.0% 0 0.0% 0 0.0% 5 0.0% 0 0.0% % Miscellaneous % 0 0.0% % 1, % 1, % 1, % Music & Entertainment 6, % 9, % 7, % % % % Office Expense % % % % % % Operating Supplies 3, % 3, % 4, % % 1, % % Paper & Plastic 3, % 4, % 3, % % % % Promotions 2, % 2, % 2, % % % % Telephone 1, % 1, % 2, % 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% % Utensils 0 0.0% 0 0.0% % 9, % 9, % 8, % TOTAL OTHER EXPENSES 47, % 55, % 47, % 4, % (6,902) -6.4% (6,362) -5.8% DEPARTMENTAL PROFIT/(LOSS) (81,073) -19.3% (79,724) -17.0% (92,754) -21.9% 11

14 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. HELM CLUB RESTAURANT DEPARTMENTAL PROFIT & LOSS February 28, 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 31, % 32, % 32, % Compass Rose 122, % 118, % 115, % 35, % 45, % 43, % Banquet 188, % 189, % 179, % 0 0.0% 0 0.0% 0 0.0% Beverage Cart 0 0.0% 0 0.0% 0 0.0% 67, % 77, % 75, % TOTAL FOOD REVENUE 310, % 307, % 295, % BEVERAGE REVENUE 19, % 18, % 17, % Compass Rose 76, % 68, % 67, % 13, % 13, % 16, % Banquet 63, % 56, % 60, % 32, % 32, % 34, % TOTAL BEVERAGE REVENUE 139, % 125, % 127, % OTHER REVENUE 3, % 3, % 3, % Helm Club Dining Dues 17, % 18, % 18, % 17, % 18, % 19, % Miscellaneous 24, % 28, % 24, % 20, % 21, % 23, % TOTAL OTHER REVENUE 42, % 47, % 42, % 121, % 131, % 133, % TOTAL FOOD & BEVERAGE REVENUE 492, % 480, % 465, % COST OF SALES 24, % 33, % 35, % Food Cost of Sales 108, % 132, % 129, % 10, % 10, % 10, % Beverage Cost of Sales 41, % 40, % 39, % 34, % 43, % 46, % TOTAL COST OF SALES 149, % 172, % 168, % WAGES & BENEFITS 22, % 22, % 22, % Salaries & Wages - Dining Room 110, % 106, % 102, % 19, % 21, % 20, % Salaries & Wages - Kitchen 94, % 114, % 108, % 7, % 7, % 8, % Payroll Burden 38, % 37, % 37, % 2, % 1, % 1, % Employee Meals 8, % 6, % 6, % 1, % 3, % 3, % Group Insurance 6, % 16, % 15, % 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, % 5, % 7, % % % % 401(k) Program % 1, % 1, % % % % Miscellaneous % % % 53, % 57, % 57, % TOTAL WAGES & BENEFITS 263, % 287, % 279, % OTHER EXPENSES % % % Advertising - Help Wanted % % % 3 0.0% 0 0.0% % Banquet Supplies 2, % 3, % % % % % Cable TV % 1, % % 0 0.0% 0 0.0% 0 0.0% Cash ( Over ) / Short 0 0.0% 0 0.0% (4) 0.0% % 0 0.0% % China/Glass/Silverware 2, % 4, % 2, % % 1, % 1, % Cleaning Supplies 3, % 4, % 4, % 0 0.0% 0 0.0% 0 0.0% Contract Labor % % % % % % Credit Card Discounts Fees 3, % 2, % 2, % % % % Decorations 4, % 4, % 4, % 0 0.0% 0 0.0% % Dues & Subscriptions 1, % 1, % % 6, % 7, % 8, % Equipment Rental 7, % 9, % 9, % 0 0.0% 0 0.0% % Gasoline & Oil % 0 0.0% % 0 0.0% % 0 0.0% Kitchen Equipment % % % 1, % 2, % 2, % Laundry & Linen 7, % 9, % 10, % % % % Leased Equipment 3, % 3, % 4, % % % % License & Fees 1, % 1, % % 2, % % % Maintenance Contracts 6, % 7, % 4, % 1, % 1, % 1, % Maintenance & Repairs 5, % 6, % 6, % % % % Marketing & Advertising 1, % 1, % 1, % 0 0.0% 0 0.0% 0 0.0% Menus & Drink List 0 0.0% 0 0.0% 0 0.0% % 0 0.0% % Meals & Entertainment % 0 0.0% % 1, % 1, % 2, % Miscellaneous 3, % 2, % 4, % 6, % 9, % 7, % Music & Entertainment 25, % 27, % 25, % % % % Office Expense 1, % 1, % 1, % 1, % 1, % 1, % Operating Supplies 4, % 5, % 6, % 1, % 1, % 1, % Paper & Plastic 4, % 4, % 3, % 0 0.0% 0 0.0% 0 0.0% Printing 0 0.0% 0 0.0% 0 0.0% % % % Promotions 3, % 3, % 2, % % % % Telephone 2, % 2, % 2, % 0 0.0% 0 0.0% 0 0.0% Travel 0 0.0% 0 0.0% 0 0.0% % % % Uniforms 1, % 3, % 2, % % % 0 0.0% Utensils % 1, % % 27, % 32, % 33, % TOTAL OTHER EXPENSES 100, % 113, % 104, % 5, % (1,873) -1.4% (3,298) -2.5% DEPARTMENTAL PROFIT/(LOSS) (20,936) -4.3% (93,930) -19.5% (86,938) -18.7% 12

15 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. GOLF OPERATIONS DEPARTMENTAL PROFIT & LOSS February 28, 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 17, % 16, % 17, % Cart Revenue 65, % 60, % 59, % 0 0.0% 0 0.0% 0 0.0% Locker Revenue 0 0.0% 0 0.0% 0 0.0% 6, % 7, % 8, % Green Fees 19, % 17, % 17, % 9, % 12, % 12, % Golf Merchandise 41, % 48, % 47, % 1, % 1, % 1, % Club Storage 8, % 7, % 8, % 0 0.0% 0 0.0% 0 0.0% Reciprocal % % 1, % 3, % 2, % 2, % Practice Range 11, % 8, % 8, % 0 0.0% 0 0.0% 0 0.0% Summer Golf Memberships 0 0.0% 0 0.0% 0 0.0% % % % Handicaps 7, % 6, % 6, % % % % Pull Cart Rental 2, % 2, % 2, % 0 0.0% 0 0.0% 0 0.0% Miscellaneous Income % 0 0.0% 0 0.0% % % % Miscellaneous Shop Service % % % % % % Lessons 4, % 4, % 5, % % % % Lessons Asst Golf Pro 2, % 1, % 1, % % % % Club Repair % % % 41, % 43, % 45, % TOTAL GOLF REVENUE 164, % 160, % 160, % COST OF SALES 4, % 8, % 8, % Golf Merchandise COS 23, % 34, % 36, % % % % Golf Merchandise Freight COS 1, % % 1, % % (125) 1.0% % Golf Merchandise Discounts COS % (489) 1.0% % 4, % 9, % 9, % TOTAL COST OF SALES 25, % 35, % 37, % WAGES & BENEFITS 20, % 20, % 21, % Salaries & Wages 93, % 100, % 89, % 2, % 1, % 1, % Commissions/Lessons 9, % 8, % 9, % 3, % 2, % 3, % Payroll Burden 15, % 14, % 14, % 0 0.0% 0 0.0% 0 0.0% Employee Meals 0 0.0% 0 0.0% 0 0.0% % % % Group Insurance 2, % 3, % 2, % 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% 0 0.0% % % Vacation/Holiday 2, % 2, % 1, % 2 0.0% % 0 0.0% 401(k) Program 9 0.0% % 0 0.0% 0 0.0% % % Miscellaneous % % % 26, % 26, % 28, % TOTAL WAGES & BENEFITS 123, % 129, % 117, % 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 1, % 1, % 1, % 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% % 0 0.0% 0 0.0% Dues & Subscriptions % % % 0 0.0% 0 0.0% 0 0.0% Laundry & Linen 0 0.0% 0 0.0% 0 0.0% 4, % 3, % 3, % Leased Equipment 19, % 17, % 17, % % % % Maintenance Contracts 4, % 4, % 2, % % % 0 0.0% Maintenance & Repairs % % % % % 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, % % % 0 0.0% Operating Supplies 1, % 1, % % % % % Paper Products/Water 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% 0 0.0% Postage 0 0.0% 0 0.0% 0 0.0% % % % Practice Range % % % 0 0.0% 0 0.0% % Printing 0 0.0% 0 0.0% % % % % Promotions 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 1, % 1, % 1, % 0 0.0% 0 0.0% 0 0.0% Travel % % % % 0 0.0% % Uniforms 1, % 1, % % 7, % 6, % 5, % TOTAL OTHER EXPENSES 36, % 35, % 31, % 2, % % 2, % DEPARTMENTAL PROFIT/(LOSS) (20,165) -12.2% (40,520) -25.3% (25,539) -15.9% 13

16 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. TENNIS DEPARTMENTAL PROFIT & LOSS February 28, 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 2, % 2, % 2, % 7, % 7, % 6, % Tennis Merchandise 36, % 40, % 38, % % - 0.0% - 0.0% Tennis Miscellaneous % - 0.0% 1, % 2, % 2, % 2, % Dues - Single 14, % 14, % 14, % 1, % 1, % 1, % Dues - Family 5, % 5, % 5, % % % 1, % Tennis Member Events % 1, % 1, % - 0.0% - 0.0% - 0.0% Tennis Open Events % 2, % 2, % % % % Tennis Ball Machine % 1, % 1, % 1, % - 0.0% % Tennis Camp 14, % 6, % 11, % 10, % 9, % 12, % Tennis Lessons 48, % 38, % 45, % % % % Tennis Stringing 2, % 2, % 1, % - 0.0% - 0.0% - 0.0% Florida Open - 0.0% - 0.0% - 0.0% 25, % 21, % 25, % TOTAL TENNIS REVENUE 125, % 114, % 126, % COST OF SALES 4, % 5, % 3, % Cost of Sales - Tennis Merchandise 25, % 30, % 30, % % % % Cost of Sales - Freight % % 1, % 5-0.1% (140) 2.0% % Cost of Sales - Discounts % (800) 2.0% % 4, % 5, % 3, % TOTAL COST OF SALES 26, % 32, % 31, % WAGES & BENEFITS 14, % 16, % 13, % Salaries & Wages 76, % 82, % 71, % 6, % 9, % 7, % Commissions/Lessons 43, % 38, % 35, % - 0.0% - 0.0% - 0.0% Tennis Camp Wages - 0.0% - 0.0% - 0.0% 3, % 2, % 3, % Payroll Burden 17, % 13, % 15, % - 0.0% - 0.0% - 0.0% Employee Meals - 0.0% - 0.0% % % 1, % 1, % Group Insurance 4, % 5, % 5, % - 0.0% - 0.0% - 0.0% Bonus - 0.0% - 0.0% - 0.0% - 0.0% % % Vacation/Holiday 2, % 4, % 2, % - 0.0% - 0.0% - 0.0% 401(k) Program - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% % Miscellaneous % - 0.0% % 25, % 30, % 25, % TOTAL WAGES & BENEFITS 144, % 144, % 130, % 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% % Clay Tennis 1, % 1, % 1, % - 0.0% % - 0.0% Cleaning Supplies - 0.0% % - 0.0% 3, % - 0.0% 2, % Contract Labor 10, % - 0.0% 8, % % % % Credit Card Discount Fees 1, % 1, % 1, % - 0.0% % - 0.0% Decorations - 0.0% % % % - 0.0% - 0.0% Dues & Subscriptions % % % - 0.0% - 0.0% - 0.0% Florida Open Expense - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% Grounds & Courts % 1, % % % % % Leased Equipment 1, % 1, % 1, % % % % Maintenance Contracts 1, % 1, % % 1, % % % Maintenance & Repairs 2, % 4, % 2, % - 0.0% - 0.0% - 0.0% Marketing & Advertising - 0.0% 1, % - 0.0% - 0.0% % - 0.0% Meals & Entertainment - 0.0% % 6 0.0% - 0.0% % - 0.0% Tennis Member Events % 2, % - 0.0% % - 0.0% % Tennis Open Events % % 4, % - 0.0% - 0.0% % Miscellaneous 7 0.0% - 0.0% 1, % % % % Office Expense % % % 1, % % % Operating Supplies 4, % 4, % 2, % - 0.0% % % Postage - 0.0% % % - 0.0% - 0.0% - 0.0% Printing - 0.0% % - 0.0% % % % Promotions % % 1, % - 0.0% - 0.0% - 0.0% Small Tools 1, % 1, % 1, % % - 0.0% % Stringing Fees 1, % - 0.0% 1, % % % % Telephone 2, % 2, % 2, % - 0.0% - 0.0% - 0.0% Tennis Camp 4, % 6, % 10, % % - 0.0% - 0.0% Travel % - 0.0% (75) -0.1% % - 0.0% % Uniforms % % % 9, % 3, % 8, % TOTAL OTHER EXPENSES 36, % 32, % 45, % (14,496) -57.7% (17,994) -83.6% (12,771) -50.9% DEPARTMENTAL PROFIT/(LOSS) (82,048) -65.4% (94,618) -82.8% (80,315) -63.4% 14

17 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. MARINA DEPARTMENTAL PROFIT & LOSS February 28, 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 17, % 20, % 31, % Marina Merchandise/Services 128, % 92, % 115, % 110, % 79, % 64, % Marina Gas Sales 382, % 332, % 299, % 12, % 6, % 5, % Marina Diesel Sales 37, % 26, % 25, % 2, % 1, % 3, % Marina Boat Servicing ( In House ) 9, % 9, % 6, % 43, % 55, % 62, % Marina Boat Servicing ( Subcontractor ) 256, % 255, % 307, % % 0 0.0% % Marina Dock Hook Up % 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 14, % 14, % 13, % 2, % 3, % 1, % Marina Boat Rental 8, % 10, % 4, % 3, % 2, % 3, % Marina Boat Storage 16, % 14, % 16, % % % % Marina Ramp Fees 4, % 3, % 2, % % 0 0.0% 3 0.0% Marina Miscellaneous Income % 0 0.0% % 196, % 171, % 174, % TOTAL MARINA REVENUE 858, % 757, % 793, % COST OF SALES 8, % 14, % 22, % Merchandise/Service 93, % 64, % 83, % 91, % 68, % 48, % Gasoline 317, % 286, % 234, % 9, % 4, % 3, % Diesel 27, % 20, % 16, % % % % Fuel Use Tax Diesel 1, % 1, % % 37, % 46, % 52, % Subcontractor Work 218, % 214, % 264, % 0 0.0% 0 0.0% 0 0.0% Rental Boat Expense 0 0.0% 0 0.0% 0 0.0% 147, % 133, % 127, % TOTAL COST OF SALES 658, % 586, % 599, % WAGES & BENEFITS 11, % 11, % 11, % Salaries & Wages 61, % 62, % 57, % 5, % 4, % 6, % Commissions 25, % 21, % 25, % 2, % 2, % 2, % Payroll Burden 13, % 14, % 13, % 0 0.0% % 0 0.0% Employee Meals 0 0.0% % 0 0.0% % % 1, % Group Insurance 4, % 4, % 4, % 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% % % % Vacation/Holiday 3, % 3, % 4, % 0 0.0% % 0 0.0% 401(k) Program 0 0.0% % 0 0.0% 0 0.0% % 0 0.0% Miscellaneous 0 0.0% % % 21, % 20, % 21, % TOTAL WAGES & BENEFITS 109, % 106, % 105, % OTHER EXPENSES % % % Cable TV % % % 0 0.0% 0 0.0% 0 0.0% Cash (over) / Short 0 0.0% 0 0.0% 0 0.0% % % % Cleaning Supplies % % % 3, % 2, % 1, % Credit Card Discount Fees 12, % 10, % 8, % 0 0.0% 0 0.0% 0 0.0% Decoration 0 0.0% % 0 0.0% 0 0.0% % % Dues & Subscriptions % % % 1, % 2, % 1, % Electric - Boat Docks 8, % 13, % 10, % % % 0 0.0% Gasoline & Oil % % % 0 0.0% % 0 0.0% Grounds, Parking & Docks 0 0.0% % 0 0.0% % % % Leased Equipment 1, % 1, % 2, % 0 0.0% 0 0.0% 0 0.0% Licenses & Fees 0 0.0% 0 0.0% 0 0.0% % % % Maintenance Contracts 1, % % % % % 0 0.0% Maintenance & Repairs 1, % 2, % 2, % % % % Meals & Entertainment % % % 0 0.0% 0 0.0% % Miscellaneous 0 0.0% 0 0.0% % 0 0.0% % 0 0.0% Office Expense 0 0.0% % % % % % Operating Supplies 1, % 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% % 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% % % % Small Tools % % % % % % Telephone 2, % 1, % 1, % % 0 0.0% % Uniforms 1, % % % % % % Utilities - Electric 3, % 4, % 3, % % % % Utilities - Trash Removal 1, % 1, % % 8, % 8, % 5, % TOTAL OTHER EXPENSES 37, % 41, % 35, % 18, % 9, % 20, % DEPARTMENTAL PROFIT/(LOSS) 53, % 22, % 52, % 15

18 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. MISCELLANEOUS DEPARTMENTAL PROFIT & LOSS February 28, 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 332, % 331, % 332, % 1, % % % Dues - Pool Membership 4, % 4, % 4, % % 1, % 1, % Finance Charges 3, % 8, % 7, % 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 13, % 13, % 13, % 11, % 8, % 8, % Lease Processing Fee 39, % 38, % 38, % (22) 0.0% % % Miscellaneous Income - Transmitters % % % % % % Miscellaneous Income 2, % 2, % 2, % 335, % 335, % 325, % Dues - Operating 1,690, % 1,678, % 1,640, % 0 0.0% 0 0.0% 0 0.0% Owner Fees - Discounts (120) 0.0% 0 0.0% (100) 0.0% % % % Owner Transfers Fees 3, % 4, % 6, % 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 0 0.1% 0 0.0% 0 0.1% 417, % 416, % 407, % TOTAL MISCELLANEOUS REVENUE 2,090, % 2,081, % 2,047, % 16

19 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. ADMINISTRATION & GENERAL DEPARTMENTAL PROFIT & LOSS February 28, 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, % 30, % 31, % Salaries & Wages 166, % 160, % 159, % 4, % 4, % 4, % Payroll Burden 21, % 21, % 24, % 1, % 2, % 2, % Group Insurance 8, % 11, % 11, % 3, % 3, % % Bonus 16, % 16, % 31, % 0 0.0% 1, % 1, % Vacation/Holiday 6, % 8, % 8, % 0 0.0% % % Miscellaneous % % % 40, % 41, % 40, % TOTAL WAGES & BENEFITS 219, % 219, % 235, % OTHER EXPENSES % 0 0.0% 0 0.0% Audit/Tax Prep 24, % 24, % 30, % 0 0.0% 0 0.0% 0 0.0% Advertising - Help Wanted 0 0.0% 0 0.0% % 6, % 6, % 6, % Accounting Fees 30, % 30, % 32, % 1, % 1, % 1, % Bad Debt 7, % 7, % 7, % % % % Bank Fees 3, % 6, % 3, % % % % Cable TV 1, % 1, % 1, % (0) 0.0% 0 0.0% 0 0.0% Cash (Over) / Short 1 0.0% 0 0.0% 1 0.0% % % % Credit Card Discount Fees 2, % 3, % 3, % 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, % 1, % % % 1, % 1, % Leased Equipment 5, % 7, % 7, % 0 0.0% 1, % 1, % Legal Fees 9, % 9, % 6, % % % % Licence & Fees 1, % 2, % 2, % 2, % 1, % 1, % Maintenance Contracts 9, % 7, % 8, % 1, % % % Maintenance & Repairs 7, % 3, % 2, % % % 9 0.0% Meals & Entertainment 9, % 7, % 7, % 0 0.0% 0 0.0% 0 0.0% Member Relations % 0 0.0% % 1, % % % Miscellaneous 1, % % 1, % 2, % 2, % 3, % Office Expense 11, % 10, % 11, % 0 0.0% % 7 0.0% Operating Supplies % % % 0 0.0% 0 0.0% 0 0.0% Pest Control 0 0.0% 0 0.0% 0 0.0% % 1, % 1, % Postage 5, % 5, % 6, % % % 1, % Printing 2, % 3, % 3, % % % % Promotions % 1, % % % % % Storage 4, % 2, % 3, % 1, % % 1, % Telephone 5, % 4, % 4, % 0 0.0% 0 0.0% 0 0.0% Training 0 0.0% 0 0.0% 0 0.0% % % % Travel Expense % % % 0 0.0% % % Uniforms % % % 21, % 21, % 24, % TOTAL OTHER EXPENSES 148, % 143, % 146, % 61, % 63, % 65, % DEPARTMENTAL EXPENSE 368, % 363, % 382, % 17