The Landings Yacht Golf & Tennis Club, Inc. For The Month Ending January 31, 2017 Fiscal Period 4

Transcription

1 The Landings Yacht Golf & Tennis Club, Inc. For The Month Ending January 31, 2017 Fiscal Period 4

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 January 2017 Monthly Overview: MTD Actual Budget Var. Last Year Var Total Revenue $882,865 $840,917 $41,948 $814,667 $68,198 MTD Actual Budget Var. Last Year Var. Operating Profit $126,362 $116,597 $9,765 $119,935 $6,427 YTD Actual Budget Var. Last Year Var Total Revenue $3,219,346 $3,170,414 $48,932 $3,121,393 $97,953 YTD Actual Budget Var. Last Year Var Operating Profit $398,209 $327,148 $71,061 $363,228 $34,981 Summary: For the current period ending January 2017, Club Revenue came in at $882,865 versus a budget of $840,917 for a positive variance of $41,948. Gross Operating Profit for the month was $126,362 compared to a budget of $116,597 for a positive variance of $9,765. The Food and Beverage Department had revenues of $200,088 compared to a budget of $217,378 resulting in a negative variance of ($17,290). Cost of sales for food came in at 36.6% for the month on a budget of 41.1% and beverage costs were 31.7% compared to a budget of 32%. Wages and Benefits was slight over budget at 62.9% of revenue vs. a budget of 58.2% of revenue. Operational expenses for the department were $26,307 compared to a budgeted operational expense for the month of $33,497 for a positive variance of $7,190. Year to date profit/loss is ($117,405) compared to a budget of ($164,879) for a positive variance of $47,474. The Golf Department had a month with revenues of $44,445 compared to a budget of $41,484, for a positive variance of $2,961. Cost of Merchandise sales were 60% compared to a budget of 73%. Total Departmental expenses for the month came in right at budget. Departmental profit for the month was $3,072 compared to a budgeted loss of ($2,511) for a positive variance of $5,583. Year to date the Golf 1

4 department is under the net loss budget by $18,350. Year to date revenues are over budget by $6,225 and over last year to date by $7,602. Year to date other operating expenses are over budget by ($559). 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 73.2% for the month. The Departmental loss for the month was ($13,686) compared to a budgeted expense of ($20,231) resulting in a positive variance of $6,545. Year to Date the Tennis department was up in the budget in revenues by $7,478. Overall, the Tennis Department has a year to date departmental loss of ($67,714) and is under budget for the year $8,910. The Marina Department had another strong month with overall revenues coming in over budget by $44,872. This number is due to sub-contractor work picking back up and 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 $.26 a gallon less than what was budgeted for revenue; however, we exceeded our budgeted gallons (19,600) by 5,531 gallons (25,131). We also exceeded our budgeted profit for gallons by.04 cents per gallon. Sub-contractor month revenues remained strong and came in over budget ($42,000) by $25,450 ($67,450). Merchandise sales were over budget as well coming in at $19,412 compared to a budget of $18,000 for a positive variance of $1,412. This reflects parts sales as well as new clothing sales. Year to date revenues are higher than budget by $77,047. The department showed a profit for the month of $10,252 compared to a budget of $1,725 for a positive variance of $8,527. Year to date the Marina Department is over budget in departmental profit by $21,254. Administrative and General was slightly over budget with a departmental expense of $79,226 compared to a budget of $78,806 with the small variance Wages and Benefits, The Community Patrol Department was under budget by $210. Departmental expense for the month was $29,487 compared to a budget of $29,697, the positive variance being mostly due to savings in gate maintenance & operating supplies. Year to date expenses of $113,087 are under the budgeted amount of $118,794 by $4,987 Golf Course Maintenance is over budget $7,274 this month and over budget $6,201 YTD. Payroll is over $6,842 YTD. We will be monitoring and regulating as much as possible without allowing conditions to decline. Property Maintenance Department was over budget $3,645 this month and $9,434 YTD. Payroll (we will monitor); contract labor and operating supplies (housekeeping) are the main reasons for the overages. Monthly Utilities were over budget for the month with actual expenses of $36,226 compared to a budget of $31,456 with the variance being in water due to the timing of billing by the County for reclaimed water for the month. 2

5 JANUARY 2017 Accounts Receivable: Delinquent Dues and House Receivables: The club currently does not have any litigation actions. The current balance of delinquent membership accounts is $.00. There are no delinquent members at this time. No new accounts were added. One account was adjusted to Bad Debts in the amount of $54,319.76, however, we recovered $43, in February when the member came in and settled the balance. Three additional accounts were removed by collecting $18, Capital Contributions: During the month of January 2017, the Club received $25, in capital contribution funds. This contribution amount was made up of 7 sales and 2 refunds. The Year to Date capital fund contribution amount is $124, The Year to Date Contribution amount is made up of 30 Sales and 5 refunds. Cash Balances: For the Month, ending January 2017 the Club had a Capital Reserve Fund cash balance of $724,214 and an Operating cash balance of $451,543. Food & Beverage Department: MTD Actual Budget Var. Last Year Var Total Revenue $200,088 $217,378 ($17,290) $200,535 ($447) MTD Actual Budget Var. Last Year Var Profit/(Loss) ($20,943) ($22,742) $1,799 ($28,912) $7,969 YTD Actual Budget Var. Last Year Var Profit/(Loss) ($117,405) ($164,879) $47,474 ($170,032) $52,627 Items of Note: Food Cost was under budget by 4.5% 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 under budget by $2,175 as the purchases of additional china and glassware was not needed this month but will be used as the need arises. Maintenance Contracts was under budget by $2,591 as the carpet cleaning was scheduled for February instead of January. 3

6 Music and Entertainment was under budget by $917 as we were able to secure better deals on entertainment then originally budgeted. Operating Supplies was under budget by $718, as the monies were not utilized this month; however, they will be utilized as the need arises. Golf Department: MTD Actual Budget Var. Last Year Var. Golf Rounds 3,588 3, , Total Rev/Round Total Revenue 44,445 41,484 2,961 35,896 8,549 NOI 3,072 (2,511) 5,583 (2,119) 5,191 Items of Note: Overall Expenses for the month came in under budget by $174. This includes all wages and other expenses categories. Cost of Sales 60%, which is under the projected COS budget of 73%, by 13%. Total Golf Revenue was over budget by $2,961. Cart revenue was up by $1,222, total rounds played were up by 41, although we lost 206 rounds played in January due to weather. Departmental Profit/Loss The Golf Dept. ended the month with a positive variance of 3,072, compared to a budgeted loss of ($2,511), for a positive variance of $5,583. Tennis Department: MTD Actual Budget Var. Last Year Var. Total Revenue $29,410 $21,218 $8,192 $22,378 $7.032 NOI ($13,686) ($20,231) $6,545 ($18,124) $4,438 Items of Note: Merchandise slightly over budget for the month. Tennis Lessons the junior program is regaining strength and lessons picking up 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 Maintenance & Repairs We outsourced the cleaning of the awnings, will be done in house in February. Marketing We did not advertise the Summer Camp as we have done in the past. Member Events Canceled the event scheduled for January. Operating Supplies Over budget due to a change in tennis balls for the teaching baskets. Marina Department: MTD Actual Budget Var. Last Year Var. Total Revenue $180,910 $136,038 $44,872 $136,641 ($44,269) NOI $10,252 $1,725 $8,527 $7,968 $2,284 Items of Note: Fuel Sales gallon sales continue to be strong and gallons are exceeding budget Year to date operating profit exceeds budget by $21,254. Sub-Contractor Work remains strong and is ahead of budget by $13,036 Total revenue is ahead of budget by $77,047 Administrative & General Department: MTD Actual Budget Var. Last Year Var Dept. Expense $79,226 $78,806 ($420) $73,930 ($5,296) Items of Note: Bank Fees - was under budget $2,978, which represents a timing difference for renewal of the bank Line of Credit. Meals and Entertainment - was over budget $3,900 which represents the holiday parties held in December but not billed for until January. Printing - was under budget $1,848 simply due to the timing of needed purchases. 5

8 Community Patrol Department: MTD Actual Budget Var. Last Year Var Dept. Expense $29,487 $29,697 $210 $29,010 ($477) Golf Course Maintenance Department: MTD Actual Budget Var. Last Year Var Dept. Expense $82,462 $75,188 $7,274 $72,628 $9,834 Items of Note: Payroll is over budget $4,634 this month. Payroll burden, group insurance and vacation pay are over budget $3,692. Maintenance & Repairs is over budget $1,589 this month. We had some unforeseen expenses with our older equipment that has been replaced with the new lease package. Property Maintenance Department: MTD Actual Budget Var. Last Year Var Dept. Expense $52,941 $49,296 $3,645 $53,526 ($585) Items of Note: Wages & Benefits are over budget $2,377. Payroll, payroll burden and vacation time are the reasons. Contract Labor is over budget $1,100 due to needed sidewalk cleaning. Operating Supplies (housekeeping) is over budget $1,247 due to needed supplies. 6

9 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. BALANCE SHEET January 31, 2017 Same Month Current Month Previous Month Last Year ASSETS Cash CASH - OPERATING 451, , ,684 CASH - CAPITAL RESERVE FUNDS 455, , ,825 CASH - UTILITY INFRASTRUCTURE SET-ASIDE 268, , ,500 Total Cash 1,175,758 1,225,040 1,072,009 Account Receivable ACCOUNTS RECEIVABLE - MEMBER ACCOUNTS 800, , ,939 ALLOWANCE FOR DOUBTFUL ACCOUNTS 33,440 (19,380) (5,943) Total Accounts Receivable 834, , ,996 Inventory INVENTORY - FOOD 33,626 33,349 39,290 INVENTORY - BEVERAGE 42,242 43,313 38,142 INVENTORY - GATE TRANSMITTER 986 1,265 2,101 INVENTORY - TENNIS PRO SHOP 35,341 38,410 75,927 INVENTORY - GOLF PRO SHOP 43,174 42,859 53,143 INVENTORY - MARINA SHOP 73,447 71,069 74,055 INVENTORY - MARINA FUEL 14,703 19,068 5,962 Total Inventory 243, , ,620 Prepaid Expenses PREPAID INSURANCE 223, , ,953 PREPAID OTHER 60,396 78,662 56,697 Total Prepaid Expenses 283, , ,650 Fixed Assets PROPERTY & IMPROVEMENTS 7,429,977 7,429,977 7,429,977 BUILDING & IMPROVEMENTS 11,366,717 11,366,717 11,366,717 SITE IMPROVEMENTS 3,326,887 3,326,887 3,326,887 BUILDING - AMENITY PURCHASE 1,990,001 1,990,001 1,990,001 LAND - AMENTIY PURCHASE 3,910,000 3,910,000 3,910,000 LAND PURCHASE - DRIVING RANGE 1,008,633 1,008,633 1,008,633 CIP - CURRENT YEAR 1,385,391 1,222, ,658 CAPITALIZED LOAN FEES 136, , ,927 WIP CLUBHOUSE INFRASTRUCTURE LESS ACCUMULATED DEPRECIATION (11,828,296) (11,729,361) (10,641,084) Total Net Fixed Assets 18,726,049 18,666,596 18,896,717 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 21,267,995 21,226,340 21,462,893 7

10 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. BALANCE SHEET January 31, 2017 Same Month Current Year Previous Month Last Year LIABILITIES AND EQUITY Accounts Payable ACCOUNTS PAYABLE - TRADE 134, , ,431 ACCOUNTS PAYABLE - INSURANCE 151, , ,235 ACCOUNTS PAYABLE - SALES TAX 20,972 16,865 (7,617) ACCOUNTS PAYABLE - GRATUITIES 7,069 4,352 3,598 LOAN PAYABLE - BANK OF AMERICA CURRENT 607, , ,764 Total Accounts Payable 921, , ,411 Accrued Liabilities ACCRUED OTHER 14,120 7,270 12,660 ACCRUED UTILITIES 3,485 2,624 18,452 ACCRUED PAYROLL 209, , ,812 ACCRUED BONUS (21,064) (24,314) 6,589 ACCRUED VACATION 47,337 40,454 25,044 ACCRUED AUDIT FEE 4,085 (1,915) 9,885 DEPOSITS/SWEEPS/GIFT CERTIFICATES 42,976 31,590 44,576 DEFERRED REVENUE 534, , ,546 Total Accrued Liabilities 834, , ,563 Long Term Liabilities LOAN PAYABLE - BANK OF AMERICA LONG TERM 2,570,092 2,638,817 3,177,413 Total Long Term Liabilities 2,570,092 2,638,817 3,177,413 Funds REPLACEMENT FUNDS - CONTRIBUTIONS 6,726,176 6,671,140 6,122,003 REPLACEMENT FUNDS - EXPENDITURES (9,423,191) (9,260,529) (8,442,458) CAPITAL FUND - CONTRIBUTIONS 3,160,623 3,135,623 2,815,623 HELM CLUB CAPITAL CONTRIBUTIONS 1,274,494 1,274,494 1,274,494 Total Funds 1,738,103 1,820,728 1,769,663 Total Liabilities 6,064,532 6,148,028 6,618,051 Member's Equity CAPITAL FUND EXPENDITURES 500, , ,553 PRIOR YEAR MEMBER'S EQUITY 14,934,521 14,934,521 14,761,954 CURRENT YEAR INCOME/(LOSS) (231,984) (194,474) (309,665) Total Member's Equity 15,203,463 15,078,312 14,844,842 Total Liabilities & Member's Equity 21,267,995 21,226,340 21,462,893 8

11 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. SUMMARY PROFIT & LOSS January 31, 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 882, % 840, % 814, % TOTAL REVENUE 3,219, % 3,170, % 3,121, % FOOD & BEVERAGE 200, % 217, % 200, % Total F&B Revenue 670, % 710, % 645, % 125, % 126, % 131, % Wages & Benefits 456, % 484, % 468, % 49, % 60, % 52, % Food Cost Of Sales 159, % 197, % 175, % 19, % 19, % 17, % Beverage Cost Of Sales 61, % 65, % 61, % 26, % 33, % 28, % Other Expenses 109, % 127, % 109, % (20,943) -10.5% (22,742) -10.5% (29,462) -14.7% FOOD & BEVERAGE PROFIT/(LOSS) (117,405) -17.5% (164,879) -23.2% (170,032) -26.3% GOLF OPERATIONS PROFIT/(LOSS) 44, % 41, % 35, % Total Pro Shop Revenue 123, % 117, % 115, % 28, % 28, % 26, % Wages & Benefits 97, % 103, % 89, % 4, % 7, % 4, % Cost Of Sales 20, % 26, % 28, % 7, % 7, % 6, % Other Expenses 28, % 28, % 25, % 3, % (2,511) -6.1% (2,119) -5.9% GOLF OPERATIONS PROFIT/(LOSS) (23,114) -18.8% (41,464) -35.4% (28,301) -24.5% TENNIS OPERATIONS PROFIT/(LOSS) 29, % 21, % 22, % Total Pro Shop Revenue 100, % 92, % 101, % 31, % 29, % 27, % Wages & Benefits 119, % 113, % 104, % 5, % 4, % 3, % Cost Of Sales 21, % 26, % 27, % 6, % 7, % 9, % Other Expenses 26, % 29, % 36, % (13,686) -46.5% (20,231) -95.3% (18,124) -81.0% TENNIS OPERATIONS PROFIT/(LOSS) (67,714) -67.5% (76,624) -82.6% (67,544) -66.5% MARINA OPERATIONS PROFIT/(LOSS) 180, % 136, % 136, % Total Marina Revenue 662, % 585, % 618, % 23, % 21, % 21, % Wages & Benefits 88, % 86, % 83, % 139, % 104, % 100, % Cost Of Sales 510, % 452, % 472, % 7, % 8, % 6, % Other Expenses 28, % 33, % 30, % 10, % 1, % 7, % MARINA OPERATIONS PROFIT/(LOSS) 34, % 13, % 32, % 428, % 424, % 419, % TOTAL MISCELLANEOUS INCOME 1,662, % 1,664, % 1,640, % OVERHEAD DEPARTMENTS 79, % 78, % 73, % Administrative & General 306, % 300, % 317, % 29, % 29, % 29, % Community Patrol 113, % 118, % 113, % 82, % 75, % 72, % Golf Course Maintenance 312, % 306, % 290, % 52, % 49, % 53, % Property Maintenance 234, % 225, % 213, % 36, % 31, % 28, % Utilities 122, % 117, % 108, % 280, % 264, % 257, % TOTAL OVERHEAD DEPARTMENT EXPENSE 1,090, % 1,067, % 1,043, % 126, % 116, % 119, % GROSS OPERATING PROFIT/(LOSS) 398, % 327, % 363, % 31, % 32, % 37, % Insurance 113, % 131, % 138, % 5, % 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% 6, % 4, % 4, % 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 34, % 34, % 36, % 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% 74, % 70, % 68, % PROFIT/(LOSS) BEFORE DEP/AMORT/INT 239, % 153, % 181, % 101, % 100, % 100, % Depreciation & Amortization 402, % 401, % 401, % 11, % 18, % 22, % Interest 69, % 74, % 90, % 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% (37,511) -4.2% (48,591) -5.8% (54,283) -6.7% NET INCOME/(LOSS) (231,984) -7.2% (322,160) -10.2% (309,665) -9.9% 9

12 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. COMBINED FOOD & BEVERAGE DEPARTMENTAL PROFIT & LOSS January 31, 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 100, % 110, % 100, % Dining Room 296, % 337, % 300, % 35, % 35, % 36, % Banquet 152, % 143, % 135, % 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% 135, % 146, % 136, % TOTAL FOOD REVENUE 449, % 480, % 436, % BEVERAGE REVENUE 48, % 51, % 47, % Dining Room 150, % 161, % 146, % 12, % 10, % 11, % Banquet 49, % 43, % 43, % 0 0.0% 0 0.0% 0 0.0% Patio 0 0.0% 0 0.0% 0 0.0% 61, % 62, % 58, % TOTAL BEVERAGE REVENUE 200, % 204, % 190, % OTHER REVENUE 3, % 3, % 3, % Helm Club Dues 14, % 14, % 14, % % 5, % 1, % Miscellaneous 7, % 10, % 4, % 3, % 8, % 4, % TOTAL OTHER REVENUE 21, % 25, % 19, % 200, % 217, % 200, % TOTAL FOOD & BEVERAGE REVENUE 670, % 710, % 645, % COST OF SALES 49, % 60, % 52, % Food Cost of Sales 159, % 197, % 175, % 19, % 19, % 17, % Beverage Cost of Sales 61, % 65, % 61, % 68, % 80, % 69, % TOTAL COST OF SALES 221, % 263, % 237, % WAGES & BENEFITS 47, % 47, % 46, % Salaries & Wages - Dining Room 177, % 177, % 168, % 44, % 45, % 47, % Salaries & Wages - Kitchen 159, % 178, % 166, % 20, % 18, % 20, % Payroll Burden 67, % 69, % 66, % 4, % 3, % 3, % Employee Meals 16, % 14, % 14, % 3, % 7, % 7, % Group Insurance 16, % 29, % 30, % 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% 3, % 2, % 4, % Vacation/Holiday 15, % 12, % 17, % % % % 401(k) Program 1, % 2, % 2, % % % 0 0.0% Miscellaneous 1, % 1, % 1, % 125, % 126, % 131, % TOTAL WAGES & BENEFITS 456, % 484, % 468, % OTHER EXPENSES % % % Advertising - Help Wanted % % % % 0 0.0% % Banquet Supplies 2, % 3, % % % % % Cable TV 1, % 2, % 1, % 0 0.0% 0 0.0% (12) 0.0% Cash ( Over ) / Short 0 0.0% 0 0.0% (16) 0.0% % 2, % % China/Glass/Silverware 5, % 9, % 5, % 1, % 1, % 1, % Cleaning Supplies 4, % 5, % 4, % 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 % % % 1, % 1, % 1, % Credit Card Discounts Fees 6, % 5, % 5, % % % % Decorations 4, % 4, % 3, % 0 0.0% 0 0.0% % Dues & Subscriptions 2, % 2, % % % % 0 0.0% Equipment Rental 1, % 2, % % 0 0.0% 0 0.0% % Gasoline & Oil % 0 0.0% % 0 0.0% % 0 0.0% Kitchen Equipment % % % 2, % 2, % 3, % Laundry & Linen 9, % 10, % 12, % 1, % 1, % 1, % Leased Equipment 4, % 4, % 4, % % % 0 0.0% License & Fees % % % 0 0.0% 0 0.0% 0 0.0% Locker Room Supplies 0 0.0% 0 0.0% 0 0.0% 1, % 4, % 2, % Maintenance Contracts 6, % 10, % 6, % 1, % 2, % 2, % Maintenance & Repairs 5, % 7, % 7, % % % % Marketing & Advertising % % 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% 0 0.0% 0 0.0% Meals & Entertainment 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Member Relations 0 0.0% 0 0.0% 0 0.0% % % % Miscellaneous 2, % 1, % 2, % 6, % 7, % 5, % Music & Entertainment 24, % 25, % 24, % % % % Office Expense 1, % 1, % 1, % 1, % 2, % 2, % Operating Supplies 5, % 7, % 9, % 1, % 1, % 1, % Paper & Plastic 6, % 6, % 6, % 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 4, % 4, % 3, % 0 0.0% 0 0.0% 0 0.0% Table & Bar Supplies 0 0.0% 0 0.0% 0 0.0% % % % Telephone 2, % 3, % 3, % 0 0.0% 0 0.0% 0 0.0% Travel 0 0.0% 0 0.0% 0 0.0% % % 0 0.0% Uniforms 2, % 4, % 3, % % % % Utensils % 1, % % 26, % 33, % 28, % TOTAL OTHER EXPENSES 109, % 127, % 109, % (20,943) -10.5% (22,742) -10.5% (29,462) -14.7% DEPARTMENTAL PROFIT/(LOSS) (117,405) -17.5% (164,879) -23.2% (170,032) -26.3% 10

13 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. WHEELHOUSE RESTAURANT DEPARTMENTAL PROFIT & LOSS January 31, 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 72, % 79, % 69, % Dining Room 205, % 250, % 216, % 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% 72, % 79, % 69, % TOTAL FOOD REVENUE 205, % 250, % 216, % BEVERAGE REVENUE 31, % 33, % 30, % Dining Room 93, % 111, % 96, % 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% 31, % 33, % 30, % TOTAL BEVERAGE REVENUE 93, % 111, % 96, % 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% 104, % 112, % 100, % TOTAL FOOD & BEVERAGE REVENUE 299, % 362, % 313, % COST OF SALES 26, % 31, % 26, % Food Cost of Sales 75, % 99, % 82, % 10, % 10, % 11, % Beverage Cost of Sales 31, % 35, % 32, % 37, % 41, % 38, % TOTAL COST OF SALES 106, % 134, % 115, % WAGES & BENEFITS 23, % 24, % 24, % Salaries & Wages - Dining Room 84, % 93, % 88, % 23, % 21, % 22, % Salaries & Wages - Kitchen 84, % 86, % 78, % 11, % 10, % 11, % Payroll Burden 37, % 39, % 37, % 2, % 2, % 2, % Employee Meals 10, % 8, % 9, % 2, % 4, % 4, % Group Insurance 11, % 16, % 18, % 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% 2, % 1, % 2, % Vacation/Holiday 10, % 7, % 11, % % % % 401(k) Program 1, % 1, % 1, % % % 0 0.0% Miscellaneous 1, % % 1, % 67, % 64, % 67, % TOTAL WAGES & BENEFITS 242, % 254, % 246, % OTHER EXPENSES 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, % % 0 0.0% 0 0.0% (12) 0.0% Cash ( Over ) / Short 0 0.0% 0 0.0% (12) 0.0% % 2, % % China/Glass/Silverware 3, % 5, % 2, % % % % Cleaning Supplies 1, % 1, % 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 3, % 4, % 3, % 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 3, % 3, % 4, % % % % Leased Equipment 2, % 1, % 1, % 0 0.0% 0 0.0% 0 0.0% License & Fees % % % % 1, % % Maintenance Contracts 2, % 3, % 2, % % % 1, % Maintenance & Repairs 1, % 2, % 2, % 0 0.0% 0 0.0% 0 0.0% Meals & Entertainment 0 0.0% 0 0.0% 0 0.0% 3 0.0% 0 0.0% 6 0.0% Miscellaneous % 0 0.0% % 1, % 1, % 1, % Music & Entertainment 5, % 7, % 6, % % % 0 0.0% Office Expense % % % % % 1, % Operating Supplies 2, % 2, % 3, % % 1, % 1, % Paper & Plastic 2, % 3, % 3, % % % % Promotions 2, % 2, % 1, % % % % Telephone 1, % 1, % 1, % 0 0.0% 0 0.0% 0 0.0% Travel 0 0.0% 0 0.0% 0 0.0% % % 0 0.0% Uniforms 1, % 1, % % 0 0.0% 0 0.0% 0 0.0% Utensils 0 0.0% 0 0.0% 0 0.0% 10, % 13, % 11, % TOTAL OTHER EXPENSES 37, % 45, % 38, % (10,593) -10.2% (7,799) -6.9% (17,857) -17.8% DEPARTMENTAL PROFIT/(LOSS) (86,906) -29.0% (72,822) -20.1% (86,392) -27.5% 11

14 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. HELM CLUB RESTAURANT DEPARTMENTAL PROFIT & LOSS January 31, 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 27, % 31, % 30, % Compass Rose 91, % 86, % 83, % 35, % 35, % 36, % Banquet 152, % 143, % 135, % 0 0.0% 0 0.0% 0 0.0% Beverage Cart 0 0.0% 0 0.0% 0 0.0% 62, % 67, % 67, % TOTAL FOOD REVENUE 243, % 230, % 219, % BEVERAGE REVENUE 17, % 18, % 17, % Compass Rose 57, % 50, % 49, % 12, % 10, % 11, % Banquet 49, % 43, % 43, % 29, % 29, % 28, % TOTAL BEVERAGE REVENUE 106, % 93, % 93, % OTHER REVENUE 3, % 3, % 3, % Helm Club Dining Dues 14, % 14, % 14, % % 5, % 1, % Miscellaneous 7, % 10, % 4, % 3, % 8, % 4, % TOTAL OTHER REVENUE 21, % 25, % 19, % 95, % 105, % 100, % TOTAL FOOD & BEVERAGE REVENUE 371, % 348, % 331, % COST OF SALES 22, % 28, % 25, % Food Cost of Sales 83, % 98, % 93, % 8, % 9, % 5, % Beverage Cost of Sales 30, % 29, % 28, % 31, % 38, % 31, % TOTAL COST OF SALES 114, % 128, % 122, % WAGES & BENEFITS 24, % 23, % 22, % Salaries & Wages - Dining Room 93, % 83, % 80, % 20, % 24, % 24, % Salaries & Wages - Kitchen 74, % 92, % 87, % 9, % 8, % 8, % Payroll Burden 30, % 29, % 28, % 2, % 1, % 1, % Employee Meals 6, % 5, % 5, % % 3, % 3, % Group Insurance 5, % 12, % 11, % 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% 1, % 1, % 2, % Vacation/Holiday 4, % 4, % 6, % % % % 401(k) Program % 1, % 1, % 0 0.0% % 0 0.0% Miscellaneous % % % 58, % 61, % 63, % TOTAL WAGES & BENEFITS 214, % 230, % 222, % OTHER EXPENSES % % % Advertising - Help Wanted % % % % 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, % % Cleaning Supplies 2, % 3, % 2, % 0 0.0% 0 0.0% 0 0.0% Contract Labor % % % % % % Credit Card Discounts Fees 2, % 1, % 1, % % % % Decorations 4, % 4, % 3, % 0 0.0% 0 0.0% % Dues & Subscriptions 1, % 1, % % % % 0 0.0% Equipment Rental 1, % 2, % % 0 0.0% 0 0.0% % Gasoline & Oil % 0 0.0% % 0 0.0% % 0 0.0% Kitchen Equipment % % % 1, % 1, % 2, % Laundry & Linen 5, % 7, % 8, % % % % Leased Equipment 2, % 2, % 3, % % % 0 0.0% License & Fees % % % % 3, % 2, % Maintenance Contracts 3, % 6, % 4, % 1, % 1, % % Maintenance & Repairs 4, % 5, % 4, % % % % Marketing & Advertising % % 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% 0 0.0% 0 0.0% Meals & Entertainment 0 0.0% 0 0.0% 0 0.0% % % % Miscellaneous 2, % 1, % 2, % 4, % 5, % 4, % Music & Entertainment 18, % 17, % 17, % % % % Office Expense % % % % 1, % 1, % Operating Supplies 3, % 4, % 5, % 1, % % % Paper & Plastic 3, % 2, % 2, % 0 0.0% 0 0.0% 0 0.0% Printing 0 0.0% 0 0.0% 0 0.0% % % % Promotions 2, % 2, % 1, % % % % Telephone 1, % 1, % 1, % 0 0.0% 0 0.0% 0 0.0% Travel 0 0.0% 0 0.0% 0 0.0% % % 0 0.0% Uniforms 1, % 3, % 2, % % % % Utensils % 1, % % 16, % 20, % 17, % TOTAL OTHER EXPENSES 72, % 81, % 70, % (10,350) -10.8% (14,943) -14.2% (11,605) -11.6% DEPARTMENTAL PROFIT/(LOSS) (30,500) -8.2% (92,057) -26.4% (83,640) -25.2% 12

15 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. GOLF OPERATIONS DEPARTMENTAL PROFIT & LOSS January 31, 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 15, % 14, % 11, % Cart Revenue 48, % 43, % 42, % 0 0.0% 0 0.0% 0 0.0% Locker Revenue 0 0.0% 0 0.0% 0 0.0% 5, % 5, % 4, % Green Fees 13, % 10, % 9, % 8, % 10, % 8, % Golf Merchandise 31, % 36, % 35, % 1, % 1, % 1, % Club Storage 6, % 6, % 6, % 0 0.0% 0 0.0% 0 0.0% Reciprocal % % 1, % 3, % 2, % 2, % Practice Range 8, % 6, % 6, % 0 0.0% 0 0.0% 0 0.0% Summer Golf Memberships 0 0.0% 0 0.0% 0 0.0% 6, % 6, % 6, % Handicaps 7, % 6, % 6, % % % % Pull Cart Rental 1, % 1, % 1, % 0 0.0% 0 0.0% 0 0.0% Miscellaneous Income % 0 0.0% 0 0.0% % % % Miscellaneous Shop Service % % % 1, % 1, % % Lessons 4, % 4, % 4, % % % % Lessons Asst Golf Pro 1, % % % % % % Club Repair % % % 44, % 41, % 35, % TOTAL GOLF REVENUE 123, % 117, % 115, % COST OF SALES 4, % 7, % 4, % Golf Merchandise COS 18, % 25, % 27, % % % % Golf Merchandise Freight COS 1, % % 1, % 8-0.1% (100) 1.0% % Golf Merchandise Discounts COS % (364) 1.0% % 4, % 7, % 4, % TOTAL COST OF SALES 20, % 26, % 28, % WAGES & BENEFITS 21, % 22, % 20, % Salaries & Wages 73, % 79, % 67, % 2, % 1, % 2, % Commissions/Lessons 7, % 6, % 7, % 3, % 3, % 3, % Payroll Burden 11, % 11, % 10, % 0 0.0% 0 0.0% 0 0.0% Employee Meals 0 0.0% 0 0.0% 0 0.0% % % % Group Insurance 1, % 2, % 1, % 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% % % % Vacation/Holiday 2, % 1, % 1, % 2 0.0% % 0 0.0% 401(k) Program 7 0.0% % 0 0.0% 0 0.0% % 0 0.0% Miscellaneous % % % 28, % 28, % 26, % TOTAL WAGES & BENEFITS 97, % 103, % 89, % 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% Cleaning Supplies 0 0.0% % 0 0.0% % % % Credit Card Discount Fees % % % 6 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% 3, % 3, % 3, % Leased Equipment 14, % 14, % 14, % 1, % % % Maintenance Contracts 4, % 3, % 2, % % % % Maintenance & Repairs % % % 0 0.0% % 0 0.0% Meals & Entertainment 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% 9 0.0% % % Office Expense % 1, % 1, % % % % Operating Supplies 1, % 1, % % % % % Paper Products/Water % % % 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% Practice Range % % 0 0.0% 0 0.0% 0 0.0% 0 0.0% Printing 0 0.0% 0 0.0% % % % 0 0.0% Promotions % % 0 0.0% % 0 0.0% 0 0.0% 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, % 0 0.0% % % Travel % % % 0 0.0% % % Uniforms 1, % 1, % % 7, % 7, % 6, % TOTAL OTHER EXPENSES 28, % 28, % 25, % 3, % (2,511) -6.1% (2,119) -5.9% DEPARTMENTAL PROFIT/(LOSS) (23,114) -18.8% (41,464) -35.4% (28,301) -24.5% 13

16 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. TENNIS DEPARTMENTAL PROFIT & LOSS January 31, 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 % 1, % 1, % Tennis Guest Fees 1, % 2, % 2, % 6, % 6, % 5, % Tennis Merchandise 28, % 33, % 32, % - 0.0% - 0.0% - 0.0% Tennis Miscellaneous % - 0.0% 1, % 2, % 2, % 2, % Dues - Single 11, % 11, % 11, % 1, % 1, % 1, % Dues - Family 4, % 4, % 4, % % % % Tennis Member Events % % % - 0.0% 2, % 2, % Tennis Open Events % 2, % 2, % % % % Tennis Ball Machine % 1, % % 3, % - 0.0% % Tennis Camp 13, % 6, % 11, % 12, % 6, % 8, % Tennis Lessons 37, % 29, % 33, % % % % Tennis Stringing 1, % 1, % 1, % - 0.0% - 0.0% - 0.0% Florida Open - 0.0% - 0.0% - 0.0% 29, % 21, % 22, % TOTAL TENNIS REVENUE 100, % 92, % 101, % COST OF SALES 4, % 4, % 3, % Cost of Sales - Tennis Merchandise 21, % 25, % 26, % % % % Cost of Sales - Freight % % % - 0.0% (120) 2.0% (35) 0.7% Cost of Sales - Discounts % (660) 2.0% % 5, % 4, % 3, % TOTAL COST OF SALES 21, % 26, % 27, % WAGES & BENEFITS 16, % 17, % 15, % Salaries & Wages 62, % 65, % 57, % 10, % 7, % 7, % Commissions/Lessons 36, % 29, % 28, % - 0.0% - 0.0% - 0.0% Tennis Camp Wages - 0.0% - 0.0% - 0.0% 3, % 2, % 3, % Payroll Burden 13, % 10, % 12, % - 0.0% - 0.0% % Employee Meals - 0.0% - 0.0% % % 1, % 1, % Group Insurance 3, % 4, % 4, % - 0.0% - 0.0% - 0.0% Bonus - 0.0% - 0.0% - 0.0% % % % Vacation/Holiday 2, % 3, % 2, % - 0.0% - 0.0% - 0.0% 401(k) Program - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% Miscellaneous % - 0.0% % 31, % 29, % 27, % TOTAL WAGES & BENEFITS 119, % 113, % 104, % OTHER EXPENSES - 0.0% - 0.0% - 0.0% Advertising - Help Wanted % - 0.0% % % % % Cable TV % % % - 0.0% - 0.0% - 0.0% Cash ( Over ) / Short - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% % Clay Tennis % 1, % 1, % - 0.0% - 0.0% - 0.0% Cleaning Supplies - 0.0% % - 0.0% 3, % - 0.0% 1, % Contract Labor 6, % - 0.0% 5, % % % % Credit Card Discount Fees % % % - 0.0% - 0.0% - 0.0% Decorations - 0.0% % % - 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, % % % % 2, % % Maintenance & Repairs 1, % 4, % 2, % - 0.0% 1, % - 0.0% Marketing & Advertising - 0.0% 1, % - 0.0% - 0.0% % - 0.0% Meals & Entertainment - 0.0% % 6 0.0% % 1, % - 0.0% Tennis Member Events % 1, % - 0.0% % - 0.0% 2, % Tennis Open Events % % 3, % - 0.0% - 0.0% 1, % Miscellaneous 7 0.0% - 0.0% 1, % - 0.0% % % Office Expense % % % 1, % % - 0.0% Operating Supplies 3, % 3, % 1, % - 0.0% % - 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% - 0.0% % Stringing Fees 1, % - 0.0% 1, % % % % Telephone 1, % 1, % 1, % - 0.0% - 0.0% - 0.0% Tennis Camp 4, % 6, % 10, % - 0.0% - 0.0% - 0.0% Travel - 0.0% - 0.0% (75) -0.1% % % % Uniforms % % % 6, % 7, % 9, % TOTAL OTHER EXPENSES 26, % 29, % 36, % (13,686) -46.5% (20,231) -95.3% (18,124) -81.0% DEPARTMENTAL PROFIT/(LOSS) (67,714) -67.5% (76,624) -82.6% (67,544) -66.5% 14

17 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. MARINA DEPARTMENTAL PROFIT & LOSS January 31, 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 19, % 18, % 19, % Marina Merchandise/Services 111, % 72, % 84, % 79, % 61, % 52, % Marina Gas Sales 272, % 253, % 235, % 3, % 4, % 3, % Marina Diesel Sales 24, % 20, % 19, % 1, % 1, % 1, % Marina Boat Servicing ( In House ) 7, % 7, % 3, % 67, % 42, % 50, % Marina Boat Servicing ( Subcontractor ) 213, % 200, % 245, % % 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 11, % 11, % 10, % 2, % 1, % 1, % Marina Boat Rental 5, % 7, % 3, % 3, % 2, % 3, % Marina Boat Storage 12, % 11, % 13, % 1, % % 1, % Marina Ramp Fees 3, % 2, % 2, % % 0 0.0% 9 0.0% Marina Miscellaneous Income % 0 0.0% % 180, % 136, % 136, % TOTAL MARINA REVENUE 662, % 585, % 618, % COST OF SALES 13, % 12, % 14, % Merchandise/Service 85, % 50, % 60, % 65, % 52, % 40, % Gasoline 225, % 217, % 186, % 3, % 3, % 2, % Diesel 18, % 15, % 13, % % % % Fuel Use Tax Diesel % % % 57, % 35, % 43, % Subcontractor Work 181, % 168, % 211, % 0 0.0% 0 0.0% 0 0.0% Rental Boat Expense 0 0.0% 0 0.0% 0 0.0% 139, % 104, % 100, % TOTAL COST OF SALES 510, % 452, % 472, % WAGES & BENEFITS 12, % 12, % 12, % Salaries & Wages 50, % 50, % 46, % 5, % 4, % 4, % Commissions 19, % 16, % 19, % 3, % 2, % 3, % Payroll Burden 10, % 11, % 10, % 0 0.0% % 0 0.0% Employee Meals 0 0.0% % 0 0.0% % % % Group Insurance 3, % 3, % 3, % 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% 1, % % % Vacation/Holiday 3, % 3, % 3, % 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% % % 23, % 21, % 21, % TOTAL WAGES & BENEFITS 88, % 86, % 83, % 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 % % % 2, % 2, % % Credit Card Discount Fees 9, % 8, % 7, % 0 0.0% 0 0.0% 0 0.0% Decoration 0 0.0% % 0 0.0% 0 0.0% 0 0.0% 0 0.0% Dues & Subscriptions % 0 0.0% 0 0.0% 1, % 2, % 1, % Electric - Boat Docks 7, % 10, % 9, % % % % Gasoline & Oil % % % 0 0.0% % 0 0.0% Grounds, Parking & Docks 0 0.0% % 0 0.0% % % % Leased Equipment 1, % 1, % 1, % 0 0.0% 0 0.0% 0 0.0% Licenses & Fees 0 0.0% 0 0.0% 0 0.0% % % % Maintenance Contracts % % % % % % Maintenance & Repairs 1, % 1, % 2, % % % % Meals & Entertainment % % % 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% 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% 0 0.0% % % Small Tools % % % % % % Telephone 1, % 1, % 1, % % 0 0.0% % Uniforms % % % % % % Utilities - Electric 2, % 3, % 3, % % % % Utilities - Trash Removal % % % 7, % 8, % 6, % TOTAL OTHER EXPENSES 28, % 33, % 30, % 10, % 1, % 7, % DEPARTMENTAL PROFIT/(LOSS) 34, % 13, % 32, % 15

18 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. MISCELLANEOUS DEPARTMENTAL PROFIT & LOSS January 31, 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 266, % 265, % 265, % 1, % % % Dues - Pool Membership 3, % 3, % 3, % % 1, % 2, % Finance Charges 3, % 6, % 6, % 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 10, % 10, % 11, % 20, % 16, % 16, % Lease Processing Fee 28, % 30, % 30, % % % % Miscellaneous Income - Transmitters % % % % % % Miscellaneous Income 1, % 1, % 1, % 335, % 335, % 327, % Dues - Operating 1,344, % 1,342, % 1,314, % 0 0.0% 0 0.0% 0 0.0% Owner Fees - Discounts (120) 0.0% 0 0.0% (100) 0.0% % % 1, % Owner Transfers Fees 2, % 3, % 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% 428, % 424, % 419, % TOTAL MISCELLANEOUS REVENUE 1,662, % 1,664, % 1,640, % 16

19 THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. ADMINISTRATION & GENERAL DEPARTMENTAL PROFIT & LOSS January 31, 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 34, % 33, % 32, % Salaries & Wages 135, % 130, % 127, % 5, % 4, % 4, % Payroll Burden 17, % 17, % 19, % 1, % 2, % 2, % Group Insurance 7, % 8, % 8, % 3, % 3, % % Bonus 13, % 13, % 30, % 1, % 2, % 1, % Vacation/Holiday 6, % 7, % 7, % 0 0.0% 0 0.0% % Miscellaneous % % % 46, % 45, % 42, % TOTAL WAGES & BENEFITS 179, % 178, % 195, % OTHER EXPENSES 6, % 6, % 10, % 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 24, % 24, % 26, % 1, % 1, % 1, % Bad Debt 6, % 6, % 6, % % 3, % % Bank Fees 2, % 6, % 2, % % % % Cable TV % 1, % 1, % 0 0.0% 0 0.0% 1 0.0% Cash (Over) / Short (2) 0.0% 0 0.0% 1 0.0% 1, % 1, % 1, % Credit Card Discount Fees 2, % 2, % 2, % % 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, % Leased Equipment 4, % 5, % 5, % 1, % 1, % 1, % Legal Fees 9, % 7, % 4, % % % % Licence & Fees 1, % 1, % 1, % 2, % 1, % 1, % Maintenance Contracts 7, % 6, % 6, % 1, % % % Maintenance & Repairs 6, % 2, % 1, % 4, % % % Meals & Entertainment 9, % 6, % 7, % % 0 0.0% 0 0.0% Member Relations % 0 0.0% % 0 0.0% % % Miscellaneous % % 1, % 2, % 2, % 2, % Office Expense 9, % 8, % 8, % % % % 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, % 4, % 5, % % 2, % % Printing 1, % 3, % 1, % 0 0.0% % % Promotions % 1, % % % % % Storage 4, % 1, % 2, % 1, % % % Telephone 3, % 3, % 3, % 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 % % % 32, % 32, % 31, % TOTAL OTHER EXPENSES 127, % 121, % 122, % 79, % 78, % 73, % DEPARTMENTAL EXPENSE 306, % 300, % 317, % 17