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

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

The Landings Yacht Golf & Tennis Club, Inc. Table of Contents Financial Overview Pages 1-6 Balance Sheet Pages 7-8 Financial Statement Pages 9-21 12 Month Forecast/Budget Pages 22 Cash Flow Report Page 23 Incidental Information Pages 24-26 Delinquent Accounts Page 27 Reserve Expenditure Analysis Pages 28-29 Employee Count Page 30

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

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

JUNE 2017 Accounts Receivable: Delinquent Dues and House Receivables: The club does not have any accounts in collections. The current balance of delinquent membership accounts is $4,270.57. The current list has 2 accounts on it. Two accounts were paid totaling $3,733.34 and one account was added totaling $3,253.78. Capital Contributions: During the month of June 2017, the Club received $55,000.00 in capital contribution funds. This contribution amount was made up of 13 sales and 2 refunds. The Year to Date capital fund contribution amount is $278,000.00. The Year to Date Contribution amount is made up of 71 Sales and 15 refunds. Cash Balances: For the Month, ending June 2017 the Club had a Capital Reserve Fund cash balance of $992,590 and an Operating cash balance of $896,047. Food & Beverage Department: MTD Actual Budget Var. Last Year Var Total Revenue $61,904 $61,239 $665 $55,782 $6,122 MTD Actual Budget Var. Last Year Var Profit/(Loss) (44,121) ($38,821) ($5,300) ($45,652) $1,531 YTD Actual Budget Var. Last Year Var Profit/(Loss) ($166,290)) ($272,040) $105,750 ($227,841) $61,551 Items of Note: Food Cost of Sales was slightly over budget by 4.4% but is under budget by 4.8% year to date. Cleaning Supplies was under budget by $546 as the monies were not utilized this month but will be in future months as the need arises. Laundry and Linen was under budget by $697, which was a direct result of less banquet business for the month of June then was budgeted. Maintenance Contracts was over budget by ($993) due to the timing of services but is under budget year to date by $747. 3

Miscellaneous was over budget by $543 however, this amount was captured under miscellaneous revenue. Golf Department: MTD Actual Budget Var. Last Year Var. Golf Rounds 779 660 119 862 (83) Total Rev/Round 12.50 13.37 (.87) 10.73 1.77 Total Revenue 9,740 8,827 913 9,252 488 NOI (9,502) (13,731) 4,229 (12,215) 2,713 Items of Note: Overall Expenses for the month came in under budget by $3,146. Year to date wages & benefits are under the projected budget by $4,902. Cost of Sales 57%, which is under the projected COS budget of 73%, by 16%. Merchandise sales were over the projected budget by $196. Cart Revenue was strong this month and exceeded budget by $538. Tennis Department: MTD Actual Budget Var. Last Year Var. Total Revenue $9,818 $20,018 ($10,200) $21,249 ($11,431) NOI ($10,689) ($12,206) $1,517 ($15,034) ($4,345) Items of Note: Tennis Lessons - Under budget for the month with one less pro than normal Tennis Camp. - Under budget - was moved to July. Clay additional clay needed due to the heavy rains. 4

Marina Department: MTD Actual Budget Var. Last Year Var. Total Revenue $119,551 $137,588 ($18,037) $141,452 ($21,901) NOI $2,472 $1,816 $656 $6,548 ($4,076) Items of Note: Fuel Sales gallon sales continue to be strong and gallons are exceeding budget Year to date operating profit exceeds budget by $44,284. Sub-Contractor Work is under budget for the year by ($26,387) Total revenue is ahead of budget by $102,461 Even with record rainfalls we have been able to meet fuel sales numbers and perform repairs to show a positive month end that still remains ahead of budget Administrative & General Department: MTD Actual Budget Var. Last Year Var Dept. Expense $67,063 $64,699 ($2,364) $73,452 $6,389 Items of Note: Legal Fees - over budget for the month $1,208 License and Fees - over budget $1,723 due to the purchase of new Jonas Software for golf and tennis lesson packages tracking. Community Patrol Department: MTD Actual Budget Var. Last Year Var Dept. Expense $26,455 $28,578 $2,123 $26,795 340 5

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

THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. BALANCE SHEET June 30, 2017 Same Month Current Month Previous Month Last Year ASSETS Cash CASH - OPERATING 896,047 798,375 623,904 CASH - CAPITAL RESERVE FUNDS 724,090 290,557 688,502 CASH - UTILITY INFRASTRUCTURE SET-ASIDE 268,500 268,500 243,500 Total Cash 1,888,637 1,357,432 1,555,907 Account Receivable ACCOUNTS RECEIVABLE - MEMBER ACCOUNTS 525,242 603,271 626,763 ALLOWANCE FOR DOUBTFUL ACCOUNTS (17,807) (16,090) (54,977) Total Accounts Receivable 507,435 587,181 571,785 Inventory INVENTORY - FOOD 19,567 22,612 21,899 INVENTORY - BEVERAGE 32,440 33,659 28,140 INVENTORY - GATE TRANSMITTER 3,119 343 1,179 INVENTORY - TENNIS PRO SHOP 31,659 30,123 82,148 INVENTORY - GOLF PRO SHOP 35,013 33,090 33,588 INVENTORY - MARINA SHOP 68,741 65,443 62,378 INVENTORY - MARINA FUEL 13,634 10,388 11,587 Total Inventory 204,173 195,659 240,919 Prepaid Expenses PREPAID INSURANCE 87,235 113,250 104,811 PREPAID OTHER 44,534 28,961 77,033 Total Prepaid Expenses 131,770 142,211 181,844 Fixed Assets PROPERTY & IMPROVEMENTS 7,931,073 7,931,073 7,429,977 BUILDING & IMPROVEMENTS 11,674,815 11,674,815 11,366,717 SITE IMPROVEMENTS 3,326,887 3,326,887 3,326,887 BUILDING - AMENITY PURCHASE 1,990,001 1,990,001 1,990,001 LAND - AMENTIY PURCHASE 3,910,000 3,910,000 3,910,000 LAND PURCHASE - DRIVING RANGE 1,008,633 1,008,633 1,008,633 CIP - CURRENT YEAR 1,061,904 1,027,251 670,500 CAPITALIZED LOAN FEES 124,789 127,179 94,194 WIP CLUBHOUSE INFRASTRUCTURE 0 0 0 LESS ACCUMULATED DEPRECIATION (12,504,450) (12,393,183) (11,135,755) Total Net Fixed Assets 18,523,651 18,602,656 18,661,154 Other Assets DEPOSITS - BEVERAGE ESCROW 3,500 3,500 3,500 DEPOSITS 12 12 1,401 Total Other Assets 3,512 3,512 4,901 Total Assets 21,259,179 20,888,651 21,216,510 7

THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. BALANCE SHEET June 30, 2017 Same Month Current Month Previous Month Last Year LIABILITIES AND EQUITY Accounts Payable ACCOUNTS PAYABLE - TRADE 74,891 140,690 118,519 ACCOUNTS PAYABLE - INSURANCE 28,872 53,443 34,622 ACCOUNTS PAYABLE - SALES TAX 20,093 18,728 16,586 ACCOUNTS PAYABLE - GRATUITIES 10,969 11,159 7,332 LOAN PAYABLE - BANK OF AMERICA CURRENT 617,818 615,702 569,726 LOAN PAYABLE - BOA CAPITAL IMPROVEMENT 413,746 0 0 Total Accounts Payable 1,166,389 839,723 746,785 Accrued Liabilities ACCRUED OTHER 10,630 14,744 6,444 ACCRUED UTILITIES 5,796 3,901 13,946 ACCRUED PAYROLL 89,897 81,550 85,424 ACCRUED BONUS (4,768) (8,018) 10,155 ACCRUED VACATION 33,176 30,960 43,446 ACCRUED AUDIT FEE (11,350) (8,700) 0 DEPOSITS/SWEEPS/GIFT CERTIFICATES 17,090 23,624 30,595 DEFERRED REVENUE 519,977 471,074 500,076 Total Accrued Liabilities 660,448 609,135 690,087 Long Term Liabilities LOAN PAYABLE - BANK OF AMERICA LONG TERM 2,309,316 2,361,609 2,936,319 Total Long Term Liabilities 2,309,316 2,361,609 2,936,319 Funds REPLACEMENT FUNDS - CONTRIBUTIONS 7,023,158 6,968,718 6,348,829 REPLACEMENT FUNDS - EXPENDITURES (9,934,943) (9,900,290) (8,708,300) CAPITAL FUND - CONTRIBUTIONS 3,314,623 3,259,623 2,946,623 HELM CLUB CAPITAL CONTRIBUTIONS 1,274,494 1,274,494 1,274,494 Total Funds 1,677,333 1,602,546 1,861,646 Total Liabilities 5,813,485 5,413,013 6,234,837 Member's Equity CAPITAL FUND EXPENDITURES 949,662 915,008 658,395 PRIOR YEAR MEMBER'S EQUITY 14,789,586 14,789,586 14,761,954 CURRENT YEAR INCOME/(LOSS) (293,554) (228,957) (438,677) Total Member's Equity 15,445,694 15,475,638 14,981,672 Total Liabilities & Member's Equity 21,259,179 20,888,651 21,216,510 8

THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. SUMMARY PROFIT & LOSS June 30, 2017 M-T-D M-T-D M-T-D Y-T-D Y-T-D Y-T-D ACTUAL BUDGET LAST YEAR ACTUAL BUDGET LAST YEAR 611,025 100.0% 637,221 100.0% 633,114 100.0% TOTAL REVENUE 7,393,598 100.0% 7,234,383 100.0% 7,225,437 100.0% FOOD & BEVERAGE 61,904 100.0% 61,239 100.0% 55,782 100.0% Total F&B Revenue 1,550,484 100.0% 1,524,914 100.0% 1,447,626 100.0% 68,068 110.0% 67,712 110.6% 70,051 125.6% Wages & Benefits 963,807 62.2% 992,712 65.1% 970,886 67.1% 17,483 44.8% 16,384 40.4% 14,471 40.0% Food Cost Of Sales 374,674 36.3% 422,459 41.1% 393,151 40.5% 6,124 33.6% 5,268 32.0% 5,936 37.4% Beverage Cost Of Sales 142,811 31.2% 137,446 32.0% 135,796 32.6% 14,351 23.2% 10,696 17.5% 10,975 19.7% Other Expenses 235,483 15.2% 244,336 16.0% 227,841 15.7% (44,121) -71.3% (38,821) -63.4% (45,652) -81.8% FOOD & BEVERAGE PROFIT/(LOSS) (166,290) -10.7% (272,040) -17.8% (280,049) -19.3% GOLF OPERATIONS PROFIT/(LOSS) 9,740 100.0% 8,827 100.0% 9,252 100.0% Total Pro Shop Revenue 302,161 100.0% 293,090 100.0% 295,540 100.0% 14,213 145.9% 15,229 172.5% 14,414 155.8% Wages & Benefits 211,332 69.9% 216,234 73.8% 201,668 68.2% 1,143 57.3% 1,314 73.0% 1,207 68.1% Cost Of Sales 61,006 61.5% 75,927 73.0% 71,497 69.5% 3,886 39.9% 6,016 68.2% 5,846 63.2% Other Expenses 60,763 20.1% 59,272 20.2% 56,392 19.1% (9,502) -97.6% (13,731) -155.6% (12,215) -132.0% GOLF OPERATIONS PROFIT/(LOSS) (30,939) -10.2% (58,342) -19.9% (34,018) -11.5% TENNIS OPERATIONS PROFIT/(LOSS) 9,818 100.0% 20,018 100.0% 21,249 100.0% Total Pro Shop Revenue 208,907 100.0% 197,165 100.0% 233,427 100.0% 12,746 129.8% 24,461 122.2% 21,430 100.8% Wages & Benefits 240,442 115.1% 250,107 126.9% 228,865 98.0% 4,758 115.8% 4,010 80.2% 3,854 80.8% Cost Of Sales 56,306 80.8% 52,932 80.2% 47,587 76.5% 3,002 30.6% 3,753 18.7% 11,000 51.8% Other Expenses 75,295 36.0% 54,805 27.8% 94,209 40.4% (10,689) -108.9% (12,206) -61.0% (15,034) -70.8% TENNIS OPERATIONS PROFIT/(LOSS) (163,136) -78.1% (160,679) -81.5% (137,234) -58.8% MARINA OPERATIONS PROFIT/(LOSS) 119,551 100.0% 137,588 100.0% 141,452 100.0% Total Marina Revenue 1,573,983 100.0% 1,471,522 100.0% 1,555,672 100.0% 20,732 17.3% 19,959 14.5% 20,160 14.3% Wages & Benefits 197,621 12.6% 191,782 13.0% 194,508 12.5% 88,955 79.5% 107,230 81.7% 108,738 81.0% Cost Of Sales 1,204,720 80.6% 1,146,105 82.1% 1,194,481 80.6% 7,392 6.2% 8,582 6.2% 6,006 4.2% Other Expenses 69,296 4.4% 75,575 5.1% 68,150 4.4% 2,472 2.1% 1,816 1.3% 6,548 4.6% MARINA OPERATIONS PROFIT/(LOSS) 102,345 6.5% 58,060 3.9% 98,533 6.3% 410,013 67.1% 409,549 64.3% 405,379 64.0% TOTAL MISCELLANEOUS INCOME 3,758,063 50.8% 3,747,693 51.8% 3,693,173 51.1% OVERHEAD DEPARTMENTS 67,063 11.0% 64,699 10.2% 73,452 11.6% Administrative & General 641,390 8.7% 638,039 8.8% 662,643 9.2% 26,455 4.3% 28,578 4.5% 26,795 4.2% Community Patrol 253,972 3.4% 264,664 3.7% 251,545 3.5% 71,630 11.7% 72,855 11.4% 80,106 12.7% Golf Course Maintenance 651,433 8.8% 641,760 8.9% 626,218 8.7% 58,731 9.6% 58,065 9.1% 64,885 10.2% Property Maintenance 520,232 7.0% 501,958 6.9% 490,308 6.8% 28,926 4.7% 34,244 5.4% 25,545 4.0% Utilities 293,952 4.0% 265,435 3.7% 257,610 3.6% 252,805 41.4% 258,441 40.6% 270,783 42.8% TOTAL OVERHEAD DEPARTMENT EXPENSE 2,360,979 31.9% 2,311,857 32.0% 2,288,325 31.7% 95,367 15.6% 88,167 13.8% 68,243 10.8% GROSS OPERATING PROFIT/(LOSS) 1,139,063 15.4% 1,002,834 13.9% 1,052,080 14.6% 27,480 4.5% 32,991 5.2% 33,621 5.3% Insurance 252,628 3.4% 296,919 4.1% 305,094 4.2% 0 0.0% 0 0.0% 0 0.0% Insurance Loss Expense 5,000 0.1% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Taxes Personal Property 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Taxes Personal Property - Lease 6,867 0.1% 7,494 0.1% 6,969 0.1% 0 0.0% 0 0.0% 0 0.0% Taxes - Income Tax 0 0.0% 0 0.0% 0 0.0% 8,550 1.4% 8,550 1.3% 8,550 1.4% Management Fees 76,950 1.0% 76,950 1.1% 80,100 1.1% 0 0.0% 0 0.0% 0 0.0% Contingency 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Other Adds & Deducts 0 0.0% 0 0.0% 0 0.0% 59,338 9.7% 46,626 7.3% 26,072 4.1% PROFIT/(LOSS) BEFORE DEP/AMORT/INT 797,618 10.8% 621,472 8.6% 659,917 9.1% 113,658 18.6% 100,280 15.7% 100,281 15.8% Depreciation & Amortization 970,424 13.1% 902,520 12.5% 902,529 12.5% 10,230 1.7% 17,326 2.7% 20,706 3.3% Interest 120,749 1.6% 161,736 2.2% 196,064 2.7% 0 0.0% 0 0.0% 0 0.0% Capital Contribution 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Capital Reserve 0 0.0% 0 0.0% 0 0.0% (64,550) -10.6% (70,980) -11.1% (94,915) -15.0% NET INCOME/(LOSS) (293,554) -4.0% (442,784) -6.1% (438,677) -6.1% 9

THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. COMBINED FOOD & BEVERAGE DEPARTMENTAL PROFIT & LOSS June 30, 2017 M-T-D M-T-D M-T-D Y-T-D Y-T-D Y-T-D ACTUAL BUDGET LAST YEAR ACTUAL BUDGET LAST YEAR REVENUE FOOD REVENUE 35,630 57.6% 30,603 50.0% 31,694 56.8% Dining Room 721,879 46.6% 721,233 47.3% 687,985 47.5% 3,407 5.5% 9,990 16.3% 4,517 8.1% Banquet 310,139 20.0% 306,041 20.1% 282,018 19.5% 0 0.0% 0 0.0% 0 0.0% Patio 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Prime Dining 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Picnic Point 0 0.0% 0 0.0% 0 0.0% 39,037 63.1% 40,593 66.3% 36,211 64.9% TOTAL FOOD REVENUE 1,032,018 66.6% 1,027,274 67.4% 970,003 67.0% BEVERAGE REVENUE 17,107 27.6% 13,465 22.0% 15,254 27.3% Dining Room 351,877 22.7% 337,707 22.1% 326,656 22.6% 1,095 1.8% 2,997 4.9% 634 1.1% Banquet 105,233 6.8% 91,812 6.0% 89,945 6.2% 0 0.0% 0 0.0% 0 0.0% Patio 0 0.0% 0 0.0% 0 0.0% 18,202 29.4% 16,462 26.9% 15,888 28.5% TOTAL BEVERAGE REVENUE 457,110 29.5% 429,519 28.2% 416,601 28.8% OTHER REVENUE 3,435 5.5% 3,683 6.0% 3,683 6.6% Helm Club Dues 31,414 2.0% 33,150 2.2% 32,934 2.3% 1,230 2.0% 500 0.8% 0 0.0% Miscellaneous 29,942 1.9% 34,970 2.3% 28,088 1.9% 4,665 7.5% 4,183 6.8% 3,683 6.6% TOTAL OTHER REVENUE 61,356 4.0% 68,120 4.5% 61,022 4.2% 61,904 100.0% 61,239 100.0% 55,782 100.0% TOTAL FOOD & BEVERAGE REVENUE 1,550,484 100.0% 1,524,914 100.0% 1,447,626 100.0% COST OF SALES 17,483 44.8% 16,384 40.4% 14,471 40.0% Food Cost of Sales 374,674 36.3% 422,459 41.1% 393,151 40.5% 6,124 33.6% 5,268 32.0% 5,936 37.4% Beverage Cost of Sales 142,811 31.2% 137,446 32.0% 135,796 32.6% 23,607 38.1% 21,652 35.4% 20,408 36.6% TOTAL COST OF SALES 517,485 33.4% 559,905 36.7% 528,947 36.5% WAGES & BENEFITS 25,706 41.5% 23,972 39.1% 24,057 43.1% Salaries & Wages - Dining Room 368,188 23.7% 368,263 24.1% 359,437 24.8% 23,812 38.5% 22,231 36.3% 22,991 41.2% Salaries & Wages - Kitchen 349,525 22.5% 356,511 23.4% 336,098 23.2% 8,830 14.3% 7,739 12.6% 7,855 14.1% Payroll Burden 144,474 9.3% 138,660 9.1% 137,233 9.5% 2,487 4.0% 1,400 2.3% 2,514 4.5% Employee Meals 35,993 2.3% 28,100 1.8% 30,331 2.1% 3,181 5.1% 7,400 12.1% 6,634 11.9% Group Insurance 35,503 2.3% 67,284 4.4% 65,386 4.5% 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% 3,796 6.1% 4,100 6.7% 5,331 9.6% Vacation/Holiday 24,015 1.5% 26,064 1.7% 34,765 2.4% 246 0.4% 525 0.9% 582 1.0% 401(k) Program 3,190 0.2% 4,725 0.3% 5,102 0.4% 10 0.0% 345 0.6% 87 0.2% Miscellaneous 2,919 0.2% 3,105 0.2% 2,536 0.2% 68,068 110.0% 67,712 110.6% 70,051 125.6% TOTAL WAGES & BENEFITS 963,807 62.2% 992,712 65.1% 970,886 67.1% OTHER EXPENSES 0 0.0% 0 0.0% 0 0.0% Advertising - Help Wanted 175 0.0% 300 0.0% 1,200 0.1% 0 0.0% 0 0.0% 51 0.1% Banquet Supplies 2,504 0.2% 3,900 0.3% 2,372 0.2% 758 1.2% 787 1.3% 685 1.2% Cable TV 5,194 0.3% 5,291 0.3% 4,493 0.3% 26 0.0% 0 0.0% 0 0.0% Cash ( Over ) / Short 29 0.0% 0 0.0% (30) 0.0% 211 0.3% 0 0.0% 0 0.0% China/Glass/Silverware 9,505 0.6% 10,000 0.7% 6,929 0.5% 254 0.4% 800 1.3% 447 0.8% Cleaning Supplies 9,131 0.6% 11,800 0.8% 9,899 0.7% 0 0.0% 0 0.0% 0 0.0% Clubhouse Cleaning 0 0.0% 0 0.0% 32 0.0% 0 0.0% 0 0.0% 0 0.0% Contract Labor 416 0.0% 950 0.1% 1,050 0.1% 645 1.0% 747 1.2% 707 1.3% Credit Card Discounts Fees 14,661 0.9% 14,089 0.9% 13,377 0.9% 0 0.0% 0 0.0% 196 0.4% Decorations 6,736 0.4% 7,000 0.5% 6,000 0.4% 0 0.0% 0 0.0% 250 0.4% Dues & Subscriptions 2,608 0.2% 2,740 0.2% 1,395 0.1% 196 0.3% 0 0.0% 0 0.0% Equipment Rental 8,485 0.5% 10,609 0.7% 10,333 0.7% 0 0.0% 0 0.0% 0 0.0% Gasoline & Oil 100 0.0% 0 0.0% 205 0.0% 0 0.0% 75 0.1% 0 0.0% Kitchen Equipment 504 0.0% 1,200 0.1% 175 0.0% 798 1.3% 1,495 2.4% 1,134 2.0% Laundry & Linen 21,035 1.4% 22,615 1.5% 26,000 1.8% 1,328 2.1% 1,146 1.9% 1,196 2.1% Leased Equipment 11,633 0.8% 10,314 0.7% 10,733 0.7% 113 0.2% 67 0.1% 0 0.0% License & Fees 2,322 0.1% 2,182 0.1% 1,714 0.1% 0 0.0% 0 0.0% 0 0.0% Locker Room Supplies 0 0.0% 0 0.0% 0 0.0% 1,798 2.9% 805 1.3% 1,091 2.0% Maintenance Contracts 16,638 1.1% 17,385 1.1% 13,775 1.0% 2,211 3.6% 700 1.1% 308 0.6% Maintenance & Repairs 19,068 1.2% 15,000 1.0% 12,574 0.9% 125 0.2% 125 0.2% 480 0.9% Marketing & Advertising 1,838 0.1% 1,835 0.1% 2,831 0.2% 0 0.0% 0 0.0% 0 0.0% Menus & Drink List 0 0.0% 0 0.0% 0 0.0% 436 0.7% 0 0.0% 0 0.0% Meals & Entertainment 544 0.0% 0 0.0% 378 0.0% 0 0.0% 0 0.0% 0 0.0% Member Relations 0 0.0% 0 0.0% 0 0.0% 543 0.9% 0 0.0% 12 0.0% Miscellaneous 6,626 0.4% 4,050 0.3% 5,535 0.4% 1,600 2.6% 1,200 2.0% 1,625 2.9% Music & Entertainment 46,093 3.0% 50,250 3.3% 46,555 3.2% 264 0.4% 180 0.3% 130 0.2% Office Expense 2,331 0.2% 1,960 0.1% 2,222 0.2% 502 0.8% 350 0.6% 402 0.7% Operating Supplies 11,768 0.8% 13,255 0.9% 14,865 1.0% 687 1.1% 775 1.3% 572 1.0% Paper & Plastic 13,843 0.9% 14,550 1.0% 12,397 0.9% 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% 42 0.0% 667 1.1% 350 0.6% 486 0.9% Promotions 10,168 0.7% 8,915 0.6% 7,684 0.5% 0 0.0% 0 0.0% 0 0.0% Table & Bar Supplies 0 0.0% 0 0.0% 0 0.0% 775 1.3% 844 1.4% 785 1.4% Telephone 6,587 0.4% 7,596 0.5% 7,367 0.5% 147 0.2% 200 0.3% 389 0.7% Travel 147 0.0% 200 0.0% 389 0.0% 270 0.4% 50 0.1% 29 0.1% Uniforms 3,910 0.3% 5,250 0.3% 4,934 0.3% 0 0.0% 0 0.0% 0 0.0% Utensils 883 0.1% 1,100 0.1% 416 0.0% 14,351 23.2% 10,696 17.5% 10,975 19.7% TOTAL OTHER EXPENSES 235,483 15.2% 244,336 16.0% 227,841 15.7% (44,121) -71.3% (38,821) -63.4% (45,652) -81.8% DEPARTMENTAL PROFIT/(LOSS) (166,290) -10.7% (272,040) -17.8% (280,049) -19.3% 10

THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. WHEELHOUSE RESTAURANT DEPARTMENTAL PROFIT & LOSS June 30, 2017 M-T-D M-T-D M-T-D Y-T-D Y-T-D Y-T-D ACTUAL BUDGET LAST YEAR ACTUAL BUDGET LAST YEAR REVENUE FOOD REVENUE 35,630 67.6% 30,603 69.4% 31,694 67.5% Dining Room 540,102 69.3% 550,537 69.8% 525,543 69.6% 0 0.0% 0 0.0% 0 0.0% Banquet 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Patio 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Picinc Point 0 0.0% 0 0.0% 0 0.0% 35,630 67.6% 30,603 69.4% 31,694 67.5% TOTAL FOOD REVENUE 540,102 69.3% 550,537 69.8% 525,543 69.6% BEVERAGE REVENUE 17,107 32.4% 13,465 30.6% 15,254 32.5% Dining Room 239,378 30.7% 238,703 30.2% 229,603 30.4% 0 0.0% 0 0.0% 0 0.0% Banquet 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Patio 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Picnic Point 0 0.0% 0 0.0% 0 0.0% 17,107 32.4% 13,465 30.6% 15,254 32.5% TOTAL BEVERAGE REVENUE 239,378 30.7% 238,703 30.2% 229,603 30.4% OTHER REVENUE 0 0.0% 0 0.0% 0 0.0% Miscellaneous 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% TOTAL OTHER REVENUE 0 0.0% 0 0.0% 0 0.0% 52,737 100.0% 44,068 100.0% 46,948 100.0% TOTAL FOOD & BEVERAGE REVENUE 779,481 100.0% 789,240 100.0% 755,146 100.0% COST OF SALES 16,019 45.0% 12,088 39.5% 12,681 40.0% Food Cost of Sales 205,110 38.0% 217,462 39.5% 198,978 37.9% 5,771 33.7% 4,309 32.0% 5,727 37.5% Beverage Cost of Sales 78,730 32.9% 76,385 32.0% 75,342 32.8% 21,789 41.3% 16,397 37.2% 18,408 39.2% TOTAL COST OF SALES 283,840 36.4% 293,847 37.2% 274,321 36.3% WAGES & BENEFITS 19,125 36.3% 16,671 37.8% 16,357 34.8% Salaries & Wages - Dining Room 192,269 24.7% 203,979 25.8% 196,102 26.0% 17,013 32.3% 16,039 36.4% 17,485 37.2% Salaries & Wages - Kitchen 192,839 24.7% 185,329 23.5% 182,051 24.1% 6,944 13.2% 5,446 12.4% 5,794 12.3% Payroll Burden 83,081 10.7% 81,631 10.3% 80,827 10.7% 2,041 3.9% 900 2.0% 2,059 4.4% Employee Meals 22,369 2.9% 17,700 2.2% 20,601 2.7% 2,412 4.6% 4,200 9.5% 5,091 10.8% Group Insurance 25,551 3.3% 38,484 4.9% 40,433 5.4% 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% 2,960 5.6% 3,000 6.8% 3,702 7.9% Vacation/Holiday 18,039 2.3% 16,503 2.1% 22,994 3.0% 168 0.3% 275 0.6% 405 0.9% 401(k) Program 2,045 0.3% 2,475 0.3% 2,578 0.3% 10 0.0% 240 0.5% 87 0.2% Miscellaneous 1,856 0.2% 2,160 0.3% 1,772 0.2% 50,674 96.1% 46,771 106.1% 50,980 108.6% TOTAL WAGES & BENEFITS 538,050 69.0% 548,261 69.5% 547,358 72.5% OTHER EXPENSES 0 0.0% 0 0.0% 0 0.0% Advertising - Help Wanted 50 0.0% 100 0.0% 638 0.1% 0 0.0% 0 0.0% 0 0.0% Banquet Supplies 0 0.0% 0 0.0% 0 0.0% 558 1.1% 512 1.2% 511 1.1% Cable TV 3,444 0.4% 2,816 0.4% 2,574 0.3% 26 0.0% 0 0.0% 0 0.0% Cash ( Over ) / Short 29 0.0% 0 0.0% (24) 0.0% 211 0.4% 0 0.0% 0 0.0% China/Glass/Silverware 7,014 0.9% 6,000 0.8% 4,033 0.5% 254 0.5% 400 0.9% 447 1.0% Cleaning Supplies 4,521 0.6% 4,400 0.6% 4,079 0.5% 0 0.0% 0 0.0% 0 0.0% Clubhouse Cleaning 0 0.0% 0 0.0% 0 0.0% 622 1.2% 617 1.4% 654 1.4% Credit Card Discounts Fees 9,562 1.2% 9,958 1.3% 9,589 1.3% 0 0.0% 0 0.0% 0 0.0% Decorations 313 0.0% 600 0.1% 358 0.0% 0 0.0% 0 0.0% 0 0.0% Dues & Subscriptions 1,055 0.1% 1,145 0.1% 500 0.1% 0 0.0% 0 0.0% 0 0.0% Equipment Rental 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Gasoline & Oil 50 0.0% 0 0.0% 103 0.0% 0 0.0% 0 0.0% 0 0.0% Kitchen Equipment 95 0.0% 525 0.1% 0 0.0% 751 1.4% 755 1.7% 747 1.6% Laundry & Linen 9,106 1.2% 8,655 1.1% 10,650 1.4% 613 1.2% 416 0.9% 486 1.0% Leased Equipment 5,080 0.7% 3,744 0.5% 3,410 0.5% 0 0.0% 0 0.0% 0 0.0% License & Fees 673 0.1% 673 0.1% 740 0.1% 1,133 2.1% 333 0.8% 622 1.3% Maintenance Contracts 7,246 0.9% 6,902 0.9% 5,850 0.8% 907 0.0% 500 1.1% 184 0.4% Maintenance & Repairs 7,850 1.0% 5,400 0.7% 3,990 0.5% 25 0.0% 0 0.0% 0 0.0% Meals & Entertainment 83 0.0% 0 0.0% 0 0.0% 9 0.0% 0 0.0% 11 0.0% Miscellaneous 125 0.0% 0 0.0% 115 0.0% 1,600 3.0% 1,200 2.7% 1,225 2.6% Music & Entertainment 13,750 1.8% 15,650 2.0% 14,050 1.9% 108 0.2% 80 0.2% 106 0.2% Office Expense 661 0.1% 560 0.1% 770 0.1% 403 0.8% 300 0.7% 292 0.6% Operating Supplies 6,077 0.8% 5,935 0.8% 6,473 0.9% 687 1.3% 725 1.6% 378 0.8% Paper & Plastic 7,052 0.9% 8,100 1.0% 6,638 0.9% 433 0.8% 350 0.8% 428 0.9% Promotions 4,423 0.6% 4,665 0.6% 4,246 0.6% 321 0.6% 374 0.8% 480 1.0% Telephone 2,693 0.3% 3,366 0.4% 3,631 0.5% 0 0.0% 0 0.0% 0 0.0% Travel 0 0.0% 0 0.0% 0 0.0% 78 0.1% 50 0.1% 29 0.1% Uniforms 1,517 0.2% 1,950 0.2% 1,805 0.2% 0 0.0% 0 0.0% 0 0.0% Utensils 0 0.0% 0 0.0% 36 0.0% 8,738 16.6% 6,612 15.0% 6,600 14.1% TOTAL OTHER EXPENSES 92,470 11.9% 91,144 11.5% 84,251 11.2% (28,465) -54.0% (25,711) -58.3% (29,040) -61.9% DEPARTMENTAL PROFIT/(LOSS) (134,879) -17.3% (144,012) -18.2% (150,784) -20.0% 11

THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. HELM CLUB RESTAURANT DEPARTMENTAL PROFIT & LOSS June 30, 2017 M-T-D M-T-D M-T-D Y-T-D Y-T-D Y-T-D ACTUAL BUDGET LAST YEAR ACTUAL BUDGET LAST YEAR REVENUE FOOD REVENUE 0 0.0% 0 0.0% 0 0.0% Compass Rose 181,776 23.6% 170,697 23.2% 162,442 23.5% 3,407 37.2% 9,990 58.2% 4,517 51.1% Banquet 310,139 40.2% 306,041 41.6% 282,018 40.7% 0 0.0% 0 0.0% 0 0.0% Beverage Cart 0 0.0% 0 0.0% 0 0.0% 3,407 37.2% 9,990 58.2% 4,517 51.1% TOTAL FOOD REVENUE 491,915 63.8% 476,738 64.8% 444,460 64.2% BEVERAGE REVENUE 0 0.0% 0 0.0% 0 0.0% Compass Rose 112,499 14.6% 99,004 13.5% 97,053 14.0% 1,095 11.9% 2,997 17.5% 634 7.2% Banquet 105,233 13.6% 91,812 12.5% 89,945 13.0% 1,095 11.9% 2,997 17.5% 634 7.2% TOTAL BEVERAGE REVENUE 217,732 28.2% 190,816 25.9% 186,998 27.0% OTHER REVENUE 3,435 37.5% 3,683 21.5% 3,683 41.7% Helm Club Dining Dues 31,414 4.1% 33,150 4.5% 32,934 4.8% 1,230 13.4% 500 2.9% 0 0.0% Miscellaneous 29,942 3.9% 34,970 4.8% 28,088 4.1% 4,665 50.9% 4,183 24.4% 3,683 41.7% TOTAL OTHER REVENUE 61,356 8.0% 68,120 9.3% 61,022 8.8% 9,167 100.0% 17,170 100.0% 8,834 100.0% TOTAL FOOD & BEVERAGE REVENUE 771,003 100.0% 735,674 100.0% 692,480 100.0% COST OF SALES 1,464 43.0% 4,296 43.0% 1,790 39.6% Food Cost of Sales 169,564 34.5% 204,997 43.0% 194,173 43.7% 353 32.2% 959 32.0% 210 33.1% Beverage Cost of Sales 64,080 29.4% 61,061 32.0% 60,454 32.3% 1,817 19.8% 5,255 30.6% 2,000 22.6% TOTAL COST OF SALES 233,645 30.3% 266,058 36.2% 254,626 36.8% WAGES & BENEFITS 6,580 71.8% 7,301 42.5% 7,700 87.2% Salaries & Wages - Dining Room 175,919 22.8% 164,284 22.3% 163,335 23.6% 6,799 74.2% 6,192 36.1% 5,506 62.3% Salaries & Wages - Kitchen 156,686 20.3% 171,182 23.3% 154,046 22.2% 1,886 20.6% 2,294 13.4% 2,061 23.3% Payroll Burden 61,393 8.0% 57,029 7.8% 56,406 8.1% 446 4.9% 500 2.9% 455 5.2% Employee Meals 13,624 1.8% 10,400 1.4% 9,730 1.4% 769 8.4% 3,200 18.6% 1,543 17.5% Group Insurance 9,952 1.3% 28,800 3.9% 24,953 3.6% 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% 836 9.1% 1,100 6.4% 1,629 18.4% Vacation/Holiday 5,976 0.8% 9,561 1.3% 11,771 1.7% 78 0.8% 250 1.5% 178 2.0% 401(k) Program 1,145 0.1% 2,250 0.3% 2,524 0.4% 0 0.0% 105 0.6% 0 0.0% Miscellaneous 1,063 0.1% 945 0.1% 763 0.1% 17,393 189.7% 20,941 122.0% 19,072 215.9% TOTAL WAGES & BENEFITS 425,757 55.2% 444,452 60.4% 423,528 61.2% OTHER EXPENSES 0 0.0% 0 0.0% 0 0.0% Advertising - Help Wanted 125 0.0% 200 0.0% 563 0.1% 0 0.0% 0 0.0% 51 0.6% Banquet Supplies 2,504 0.3% 3,900 0.5% 2,372 0.3% 200 2.2% 275 1.6% 173 2.0% Cable TV 1,750 0.2% 2,475 0.3% 1,919 0.3% 0 0.0% 0 0.0% 0 0.0% Cash ( Over ) / Short 0 0.0% 0 0.0% (5) 0.0% 0 0.0% 0 0.0% 0 0.0% China/Glass/Silverware 2,492 0.3% 4,000 0.5% 2,896 0.4% 0 0.0% 400 2.3% 0 0.0% Cleaning Supplies 4,611 0.6% 7,400 1.0% 5,821 0.8% 0 0.0% 0 0.0% 0 0.0% Contract Labor 416 0.1% 950 0.1% 1,050 0.2% 23 0.3% 130 0.8% 53 0.6% Credit Card Discounts Fees 5,100 0.7% 4,131 0.6% 3,788 0.5% 0 0.0% 0 0.0% 196 2.2% Decorations 6,423 0.8% 6,400 0.9% 5,642 0.8% 0 0.0% 0 0.0% 250 2.8% Dues & Subscriptions 1,554 0.2% 1,595 0.2% 895 0.1% 196 2.1% 0 0.0% 0 0.0% Equipment Rental 8,485 1.1% 10,609 1.4% 10,333 1.5% 0 0.0% 0 0.0% 0 0.0% Gasoline & Oil 50 0.0% 0 0.0% 103 0.0% 0 0.0% 75 0.4% 0 0.0% Kitchen Equipment 408 0.1% 675 0.1% 175 0.0% 48 0.5% 740 4.3% 386 4.4% Laundry & Linen 11,929 1.5% 13,960 1.9% 15,350 2.2% 715 7.8% 730 4.3% 710 8.0% Leased Equipment 6,553 0.8% 6,570 0.9% 7,323 1.1% 113 1.2% 67 0.4% 0 0.0% License & Fees 1,649 0.2% 1,509 0.2% 974 0.1% 665 7.3% 472 2.7% 469 5.3% Maintenance Contracts 9,391 1.2% 10,483 1.4% 7,925 1.1% 1,304 14.2% 200 1.2% 124 1.4% Maintenance & Repairs 11,218 1.5% 9,600 1.3% 8,584 1.2% 125 1.4% 125 0.7% 480 5.4% Marketing & Advertising 1,838 0.2% 1,835 0.2% 2,831 0.4% 0 0.0% 0 0.0% 0 0.0% Menus & Drink List 0 0.0% 0 0.0% 0 0.0% 411 4.5% 0 0.0% 0 0.0% Meals & Entertainment 461 0.1% 0 0.0% 378 0.1% 534 5.8% 0 0.0% 1 0.0% Miscellaneous 6,501 0.8% 4,050 0.6% 5,420 0.8% 0 0.0% 0 0.0% 400 4.5% Music & Entertainment 32,343 4.2% 34,600 4.7% 32,505 4.7% 156 1.7% 100 0.6% 24 0.3% Office Expense 1,670 0.2% 1,400 0.2% 1,452 0.2% 98 1.1% 50 0.3% 110 1.2% Operating Supplies 5,691 0.7% 7,320 1.0% 8,392 1.2% 0 0.0% 50 0.3% 194 2.2% Paper & Plastic 6,791 0.9% 6,450 0.9% 5,759 0.8% 0 0.0% 0 0.0% 0 0.0% Printing 0 0.0% 0 0.0% 42 0.0% 234 2.6% 0 0.0% 58 0.7% Promotions 5,744 0.7% 4,250 0.6% 3,438 0.5% 455 5.0% 470 2.7% 305 3.5% Telephone 3,894 0.5% 4,230 0.6% 3,736 0.5% 147 1.6% 200 1.2% 389 4.4% Travel 147 0.0% 200 0.0% 389 0.1% 191 2.1% 0 0.0% 0 0.0% Uniforms 2,393 0.3% 3,300 0.4% 3,129 0.5% 0 0.0% 0 0.0% 0 0.0% Utensils 883 0.1% 1,100 0.1% 380 0.1% 5,613 61.2% 4,084 23.8% 4,374 49.5% TOTAL OTHER EXPENSES 143,013 18.5% 153,192 20.8% 143,590 20.7% (15,656) -170.8% (13,110) -76.4% (16,613) -188.1% DEPARTMENTAL PROFIT/(LOSS) (31,411) -4.1% (128,028) -17.4% (129,265) -18.7% 12

THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. GOLF OPERATIONS DEPARTMENTAL PROFIT & LOSS June 30, 2017 M-T-D M-T-D M-T-D Y-T-D Y-T-D Y-T-D ACTUAL BUDGET LAST YEAR ACTUAL BUDGET LAST YEAR REVENUE GOLF REVENUE 3,733 38.3% 3,195 36.2% 4,067 44.0% Cart Revenue 107,960 35.7% 103,708 35.4% 101,862 34.5% 0 0.0% 0 0.0% 0 0.0% Locker Revenue 0 0.0% 0 0.0% 0 0.0% 358 3.7% 1,043 11.8% 250 2.7% Green Fees 32,855 10.9% 30,591 10.4% 31,630 10.7% 1,996 20.5% 1,800 20.4% 1,774 19.2% Golf Merchandise 99,141 32.8% 104,009 35.5% 102,822 34.8% 1,600 16.4% 1,590 18.0% 1,600 17.3% Club Storage 14,400 4.8% 14,310 4.9% 14,656 5.0% 1,332 13.7% 528 6.0% 1,073 11.6% Reciprocal 3,082 1.0% 1,848 0.6% 5,469 1.9% 135 1.4% 230 2.6% 228 2.5% Practice Range 17,729 5.9% 14,999 5.1% 14,997 5.1% 0 0.0% 0 0.0% 0 0.0% Summer Golf Memberships 0 0.0% 0 0.0% 0 0.0% 30 0.3% 0 0.0% 30 0.3% Handicaps 7,440 2.5% 6,700 2.3% 6,810 2.3% 36 0.4% 20 0.2% 30 0.3% Pull Cart Rental 3,588 1.2% 3,910 1.3% 3,992 1.4% 0 0.0% 0 0.0% 0 0.0% Miscellaneous Income 4,148 1.4% 1,000 0.3% 1,200 0.4% 20 0.2% 200 2.3% 20 0.2% Miscellaneous Shop Service 1,000 0.3% 1,895 0.6% 1,260 0.4% 460 4.7% 200 2.3% 180 1.9% Lessons 7,560 2.5% 7,850 2.7% 8,500 2.9% 0 0.0% 0 0.0% 0 0.0% Lessons Asst Golf Pro 2,860 0.9% 1,540 0.5% 1,620 0.5% 40 0.4% 20 0.2% 0 0.0% Club Repair 398 0.1% 730 0.2% 722 0.2% 9,740 100.0% 8,827 100.0% 9,252 100.0% TOTAL GOLF REVENUE 302,161 100.0% 293,090 100.0% 295,540 100.0% COST OF SALES 1,004 50.3% 1,260 70.0% 1,161 65.4% Golf Merchandise COS 57,979 58.5% 72,806 70.0% 69,572 67.7% 169 8.5% 36 2.0% 71 4.0% Golf Merchandise Freight COS 3,535 3.6% 2,080 2.0% 2,692 2.6% 30-1.5% (18) 1.0% 24-1.4% Golf Merchandise Discounts COS 509-0.5% (1,040) 1.0% 767-0.7% 1,143 57.3% 1,314 73.0% 1,207 68.1% TOTAL COST OF SALES 61,006 61.5% 75,927 73.0% 71,497 69.5% WAGES & BENEFITS 10,871 111.6% 12,146 137.6% 10,996 118.9% Salaries & Wages 158,348 52.4% 165,203 56.4% 150,301 50.9% 848 8.7% 504 5.7% 493 5.3% Commissions/Lessons 18,845 6.2% 16,086 5.5% 17,584 5.9% 1,772 18.2% 1,733 19.6% 1,673 18.1% Payroll Burden 25,977 8.6% 24,479 8.4% 24,418 8.3% 0 0.0% 0 0.0% 0 0.0% Employee Meals 0 0.0% 0 0.0% 0 0.0% 454 4.7% 715 8.1% 741 8.0% Group Insurance 4,109 1.4% 6,435 2.2% 5,415 1.8% 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% 267 2.7% 0 0.0% 511 5.5% Vacation/Holiday 3,125 1.0% 2,862 1.0% 3,093 1.0% 1 0.0% 100 1.1% 0 0.0% 401(k) Program 14 0.0% 900 0.3% 0 0.0% 0 0.0% 30 0.3% 0 0.0% Miscellaneous 914 0.3% 270 0.1% 857 0.3% 14,213 145.9% 15,229 172.5% 14,414 155.8% TOTAL WAGES & BENEFITS 211,332 69.9% 216,234 73.8% 201,668 68.2% OTHER EXPENSES 0 0.0% 0 0.0% 0 0.0% Advertising - Help Wanted 0 0.0% 0 0.0% 25 0.0% 30 0.3% 33 0.4% 30 0.3% Cable TV 270 0.1% 297 0.1% 270 0.1% 0 0.0% 0 0.0% 0 0.0% Cash ( Over ) / Short 47 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Cleaning Supplies 0 0.0% 60 0.0% 0 0.0% 128 1.3% 250 2.8% 104 1.1% Credit Card Discount Fees 2,020 0.7% 2,663 0.9% 2,209 0.7% 0 0.0% 0 0.0% 0 0.0% Decorations 49 0.0% 250 0.1% 70 0.0% 0 0.0% 0 0.0% 0 0.0% Donations 0 0.0% 0 0.0% 0 0.0% 583 6.0% 575 6.5% 570 6.2% Dues & Subscriptions 1,061 0.4% 685 0.2% 830 0.3% 0 0.0% 0 0.0% 0 0.0% Laundry & Linen 0 0.0% 0 0.0% 0 0.0% 1,367 14.0% 3,720 42.1% 3,755 40.6% Leased Equipment 33,710 11.2% 32,679 11.1% 31,673 10.7% 860 8.8% 816 9.2% 816 8.8% Maintenance Contracts 7,785 2.6% 7,342 2.5% 6,567 2.2% 0 0.0% 117 1.3% 0 0.0% Maintenance & Repairs 725 0.2% 1,050 0.4% 871 0.3% 0 0.0% 0 0.0% 0 0.0% Meals & Entertainment 131 0.0% 550 0.2% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Miscellaneous 212 0.1% 0 0.0% 5 0.0% 180 1.8% 0 0.0% 0 0.0% Office Expense 1,519 0.5% 1,710 0.6% 1,328 0.4% 54 0.5% 50 0.6% 0 0.0% Operating Supplies 1,988 0.7% 2,110 0.7% 1,857 0.6% 82 0.8% 0 0.0% 80 0.9% Paper Products/Water 1,776 0.6% 1,325 0.5% 1,437 0.5% 0 0.0% 0 0.0% 0 0.0% Pest Control 0 0.0% 0 0.0% 0 0.0% 17 0.2% 0 0.0% 0 0.0% Postage 58 0.0% 0 0.0% 0 0.0% 0 0.0% 10 0.1% 0 0.0% Practice Range 563 0.2% 495 0.2% 907 0.3% 0 0.0% 0 0.0% 0 0.0% Printing 0 0.0% 0 0.0% 243 0.1% 90 0.9% 100 1.1% 127 1.4% Promotions 2,087 0.7% 1,700 0.6% 1,709 0.6% 0 0.0% 0 0.0% 0 0.0% Scorecard & Pencils 1,345 0.4% 1,850 0.6% 1,280 0.4% 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% 164 0.1% 364 3.7% 245 2.8% 335 3.6% Telephone 3,073 1.0% 2,205 0.8% 2,536 0.9% 0 0.0% 100 1.1% 0 0.0% Travel 89 0.0% 1,050 0.4% 642 0.2% 42 0.4% 0 0.0% 29 0.3% Uniforms 1,386 0.5% 1,250 0.4% 269 0.1% 3,886 39.9% 6,016 68.2% 5,846 63.2% TOTAL OTHER EXPENSES 60,763 20.1% 59,272 20.2% 56,392 19.1% (9,502) -97.6% (13,731) -155.6% (12,215) -132.0% DEPARTMENTAL PROFIT/(LOSS) (30,939) -10.2% (58,342) -19.9% (34,018) -11.5% 13

THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. TENNIS DEPARTMENTAL PROFIT & LOSS June 30, 2017 M-T-D M-T-D M-T-D Y-T-D Y-T-D Y-T-D ACTUAL BUDGET LAST YEAR ACTUAL BUDGET LAST YEAR REVENUE TENNIS REVENUE 113 1.2% 200 1.0% 132 0.6% Tennis Guest Fees 3,018 1.4% 4,000 2.0% 3,634 1.6% 4,107 41.8% 5,000 25.0% 4,769 22.4% Tennis Merchandise 69,690 33.4% 66,000 33.5% 62,234 26.7% - 0.0% - 0.0% - 0.0% Tennis Miscellaneous 1,078 0.5% - 0.0% 1,284 0.6% 2,900 29.5% 2,808 14.0% 2,808 13.2% Dues - Single 25,916 12.4% 25,275 12.8% 25,472 10.9% 1,090 11.1% 1,110 5.5% 1,120 5.3% Dues - Family 9,850 4.7% 9,990 5.1% 10,212 4.4% - 0.0% - 0.0% - 0.0% Tennis Member Events 4,343 2.1% 7,200 3.7% 7,393 3.2% - 0.0% - 0.0% - 0.0% Tennis Open Events 2,530 1.2% 3,600 1.8% 3,605 1.5% 112 1.1% 100 0.5% 32 0.2% Tennis Ball Machine 1,821 0.9% 2,300 1.2% 2,052 0.9% 900 9.2% 5,000 25.0% 11,935 56.2% Tennis Camp 18,913 9.1% 11,000 5.6% 25,246 10.8% 550 5.6% 5,500 27.5% 440 2.1% Tennis Lessons 68,594 32.8% 64,500 32.7% 64,914 27.8% 45 0.5% 300 1.5% 13 0.1% Tennis Stringing 3,154 1.5% 3,300 1.7% 2,780 1.2% - 0.0% - 0.0% - 0.0% Florida Open - 0.0% - 0.0% 24,600 10.5% 9,818 100.0% 20,018 100.0% 21,249 100.0% TOTAL TENNIS REVENUE 208,907 100.0% 197,165 100.0% 233,427 100.0% COST OF SALES 4,784 116.5% 3,800 76.0% 3,784 79.3% Cost of Sales - Tennis Merchandise 55,641 79.8% 50,160 76.0% 46,370 74.5% 154 3.7% 110 2.2% 153 3.2% Cost of Sales - Freight 1,162 1.7% 1,452 2.2% 1,735 2.8% 180-4.4% (100) 2.0% 84-1.8% Cost of Sales - Discounts 497-0.7% (1,320) 2.0% 518-0.8% 4,758 115.8% 4,010 80.2% 3,854 80.8% TOTAL COST OF SALES 56,306 80.8% 52,932 80.2% 47,587 76.5% WAGES & BENEFITS 9,865 100.5% 15,213 76.0% 13,101 61.7% Salaries & Wages 144,059 69.0% 146,191 74.1% 128,611 55.1% 425 4.3% 4,831 24.1% 3,095 14.6% Commissions/Lessons 56,531 27.1% 62,683 31.8% 56,912 24.4% - 0.0% - 0.0% - 0.0% Tennis Camp Wages - 0.0% - 0.0% - 0.0% 1,460 14.9% 2,434 12.2% 3,331 15.7% Payroll Burden 28,686 13.7% 23,391 11.9% 27,509 11.8% - 0.0% - 0.0% - 0.0% Employee Meals - 0.0% - 0.0% 42 0.0% 539 5.5% 1,107 5.5% 1,191 5.6% Group Insurance 7,554 3.6% 9,967 5.1% 9,700 4.2% - 0.0% - 0.0% - 0.0% Bonus - 0.0% - 0.0% - 0.0% 456 4.6% 875 4.4% 712 3.3% Vacation/Holiday 3,433 1.6% 7,875 4.0% 5,755 2.5% - 0.0% - 0.0% - 0.0% 401(k) Program - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% Miscellaneous 179 0.1% - 0.0% 335 0.1% 12,746 129.8% 24,461 122.2% 21,430 100.8% TOTAL WAGES & BENEFITS 240,442 115.1% 250,107 126.9% 228,865 98.0% OTHER EXPENSES - 0.0% - 0.0% - 0.0% Advertising - Help Wanted 50 0.0% - 0.0% 50 0.0% 30 0.3% 35 0.2% 30 0.1% Cable TV 270 0.1% 312 0.2% 270 0.1% - 0.0% - 0.0% - 0.0% Cash ( Over ) / Short - 0.0% - 0.0% - 0.0% 732 7.5% - 0.0% - 0.0% Clay Tennis 2,143 1.0% 3,000 1.5% 3,689 1.6% - 0.0% - 0.0% - 0.0% Cleaning Supplies - 0.0% 150 0.1% - 0.0% 581 5.9% - 0.0% - 0.0% Contract Labor 18,922 9.1% - 0.0% 8,170 3.5% 91 0.9% 200 1.0% 78 0.4% Credit Card Discount Fees 1,884 0.9% 1,991 1.0% 1,782 0.8% - 0.0% - 0.0% - 0.0% Decorations - 0.0% 300 0.2% 102 0.0% - 0.0% - 0.0% - 0.0% Dues & Subscriptions 610 0.3% 883 0.4% 694 0.3% - 0.0% - 0.0% 5,944 28.0% Florida Open Expense - 0.0% - 0.0% 21,917 9.4% - 0.0% - 0.0% - 0.0% Grounds & Courts 702 0.3% 1,760 0.9% 297 0.1% 326 3.3% 315 1.6% 326 1.5% Leased Equipment 2,934 1.4% 2,835 1.4% 3,206 1.4% 99 1.0% 243 1.2% 187 0.9% Maintenance Contracts 2,312 1.1% 2,186 1.1% 1,683 0.7% - 0.0% 250 1.2% 387 1.8% Maintenance & Repairs 7,359 3.5% 5,878 3.0% 7,621 3.3% - 0.0% - 0.0% - 0.0% Marketing & Advertising 74 0.0% 1,000 0.5% 455 0.2% 89 0.9% 50 0.2% - 0.0% Meals & Entertainment 138 0.1% 450 0.2% 6 0.0% - 0.0% - 0.0% - 0.0% Tennis Member Events 79 0.0% 4,500 2.3% 2,699 1.2% - 0.0% - 0.0% - 0.0% Tennis Open Events 6,692 3.2% 5,600 2.8% 8,877 3.8% 6 0.1% - 0.0% 36 0.2% Miscellaneous 2,649 1.3% - 0.0% 2,407 1.0% - 0.0% 150 0.7% - 0.0% Office Expense 947 0.5% 900 0.5% 1,551 0.7% 32 0.3% 500 2.5% 607 2.9% Operating Supplies 11,172 5.3% 6,794 3.4% 3,544 1.5% - 0.0% 50 0.2% - 0.0% Postage 20 0.0% 350 0.2% 31 0.0% - 0.0% - 0.0% - 0.0% Printing - 0.0% 200 0.1% - 0.0% 121 1.2% 30 0.1% - 0.0% Promotions 2,154 1.0% 1,270 0.6% 3,070 1.3% - 0.0% - 0.0% - 0.0% Small Tools 1,123 0.5% 1,076 0.5% 1,343 0.6% 139 1.4% - 0.0% - 0.0% Stringing Fees 3,519 1.7% - 0.0% 3,140 1.3% 437 4.4% 430 2.1% 431 2.0% Telephone 4,177 2.0% 3,870 2.0% 3,805 1.6% - 0.0% 1,500 7.5% 2,974 14.0% Tennis Camp 4,625 2.2% 7,500 3.8% 13,194 5.7% - 0.0% - 0.0% - 0.0% Travel 63 0.0% 1,000 0.5% (75) 0.0% 320 3.3% - 0.0% - 0.0% Uniforms 534 0.3% 1,000 0.5% 467 0.2% 3,002 30.6% 3,753 18.7% 11,000 51.8% TOTAL OTHER EXPENSES 75,295 36.0% 54,805 27.8% 94,209 40.4% (10,689) -108.9% (12,206) -61.0% (15,034) -70.8% DEPARTMENTAL PROFIT/(LOSS) (163,136) -78.1% (160,679) -81.5% (137,234) -58.8% 14

THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. MARINA DEPARTMENTAL PROFIT & LOSS June 30, 2017 M-T-D M-T-D M-T-D Y-T-D Y-T-D Y-T-D ACTUAL BUDGET LAST YEAR ACTUAL BUDGET LAST YEAR REVENUE MARINA REVENUE 7,625 6.4% 13,500 9.8% 6,544 4.6% Marina Merchandise/Services 223,428 14.2% 164,000 11.1% 193,182 12.4% 63,382 53.0% 63,000 45.8% 61,735 43.6% Marina Gas Sales 756,805 48.1% 703,150 47.8% 649,780 41.8% 3,652 3.1% 7,200 5.2% 7,844 5.5% Marina Diesel Sales 70,234 4.5% 59,280 4.0% 60,224 3.9% 2,165 1.8% 2,500 1.8% 4,381 3.1% Marina Boat Servicing ( In House ) 18,694 1.2% 17,900 1.2% 18,014 1.2% 35,006 29.3% 45,000 32.7% 53,693 38.0% Marina Boat Servicing ( Subcontractor ) 424,613 27.0% 451,000 30.6% 561,323 36.1% 0 0.0% 0 0.0% 0 0.0% Marina Dock Hook Up 960 0.1% 0 0.0% 438 0.0% 0 0.0% 0 0.0% 0 0.0% Marina Dock On Rental 0 0.0% 600 0.0% 0 0.0% 2,838 2.4% 2,838 2.1% 2,750 1.9% Marina Electric Cord Charge 25,542 1.6% 25,542 1.7% 24,478 1.6% 675 0.6% 250 0.2% 390 0.3% Marina Boat Rental 15,374 1.0% 17,750 1.2% 11,996 0.8% 3,540 3.0% 2,800 2.0% 3,410 2.4% Marina Boat Storage 30,060 1.9% 25,200 1.7% 29,161 1.9% 480 0.4% 500 0.4% 705 0.5% Marina Ramp Fees 7,015 0.4% 7,100 0.5% 6,870 0.4% 188 0.2% 0 0.0% 0 0.0% Marina Miscellaneous Income 1,257 0.1% 0 0.0% 206 0.0% 119,551 100.0% 137,588 100.0% 141,452 100.0% TOTAL MARINA REVENUE 1,573,983 100.0% 1,471,522 100.0% 1,555,672 100.0% COST OF SALES 4,934 64.7% 9,450 70.0% 3,970 60.7% Merchandise/Service 162,662 72.8% 114,800 70.0% 139,605 72.3% 51,519 81.3% 54,180 86.0% 52,140 84.5% Gasoline 625,401 82.6% 604,709 86.0% 531,679 81.8% 2,782 76.2% 5,472 76.0% 5,769 73.5% Diesel 51,761 73.7% 45,053 76.0% 41,136 68.3% 192 5.2% 328 4.6% 319 4.1% Fuel Use Tax Diesel 3,000 4.3% 2,703 4.6% 2,387 4.0% 29,528 79.4% 37,800 79.6% 46,539 80.1% Subcontractor Work 361,896 81.6% 378,840 80.8% 479,673 82.8% 0 0.0% 0 0.0% 0 0.0% Rental Boat Expense 0 0.0% 0 0.0% 0 0.0% 88,955 79.1% 107,230 81.6% 108,738 80.8% TOTAL COST OF SALES 1,204,720 79.8% 1,146,105 81.1% 1,194,481 79.9% WAGES & BENEFITS 12,389 10.4% 12,153 8.8% 11,287 8.0% Salaries & Wages 107,714 6.8% 112,182 7.6% 105,482 6.8% 3,846 3.2% 4,156 3.0% 4,044 2.9% Commissions 48,635 3.1% 40,490 2.8% 47,215 3.0% 2,946 2.5% 2,049 1.5% 2,917 2.1% Payroll Burden 26,505 1.7% 23,393 1.6% 25,694 1.7% 0 0.0% 25 0.0% 0 0.0% Employee Meals 0 0.0% 225 0.0% 0 0.0% 978 0.8% 992 0.7% 1,072 0.8% Group Insurance 8,748 0.6% 8,927 0.6% 8,966 0.6% 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% 573 0.5% 550 0.4% 784 0.6% Vacation/Holiday 6,019 0.4% 6,250 0.4% 7,009 0.5% 0 0.0% 10 0.0% 0 0.0% 401(k) Program 0 0.0% 90 0.0% 0 0.0% 0 0.0% 25 0.0% 56 0.0% Miscellaneous 0 0.0% 225 0.0% 143 0.0% 20,732 17.3% 19,959 14.5% 20,160 14.3% TOTAL WAGES & BENEFITS 197,621 12.6% 191,782 13.0% 194,508 12.5% OTHER EXPENSES 97 0.1% 97 0.1% 97 0.1% Cable TV 828 0.1% 873 0.1% 873 0.1% 0 0.0% 0 0.0% 0 0.0% Cash (over) / Short (66) 0.0% 0 0.0% 284 0.0% 40 0.0% 25 0.0% 172 0.1% Cleaning Supplies 399 0.0% 225 0.0% 2,313 0.1% 1,933 1.6% 2,000 1.5% 1,112 0.8% Credit Card Discount Fees 23,461 1.5% 18,000 1.2% 20,088 1.3% 0 0.0% 0 0.0% 0 0.0% Decoration 0 0.0% 250 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Dues & Subscriptions 159 0.0% 840 0.1% 400 0.0% 2,510 2.1% 3,250 2.4% 2,125 1.5% Electric - Boat Docks 17,763 1.1% 24,307 1.7% 18,937 1.2% 32 0.0% 75 0.1% 25 0.0% Gasoline & Oil 416 0.0% 1,025 0.1% 119 0.0% 0 0.0% 100 0.1% 0 0.0% Grounds, Parking & Docks 0 0.0% 900 0.1% 0 0.0% 349 0.3% 342 0.2% 349 0.2% Leased Equipment 3,142 0.2% 3,078 0.2% 3,424 0.2% 0 0.0% 0 0.0% 25 0.0% Licenses & Fees 392 0.0% 490 0.0% 417 0.0% 148 0.1% 138 0.1% 135 0.1% Maintenance Contracts 1,897 0.1% 1,277 0.1% 1,246 0.1% 0 0.0% 350 0.3% 115 0.1% Maintenance & Repairs 2,390 0.2% 3,550 0.2% 3,144 0.2% 112 0.1% 10 0.0% 91 0.1% Meals & Entertainment 657 0.0% 90 0.0% 677 0.0% 0 0.0% 0 0.0% 0 0.0% Miscellaneous 0 0.0% 0 0.0% 45 0.0% 0 0.0% 75 0.1% 0 0.0% Office Expense 251 0.0% 675 0.0% 67 0.0% 657 0.5% 320 0.2% 263 0.2% Operating Supplies 2,621 0.2% 4,830 0.3% 3,099 0.2% 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% 45 0.0% 29 0.0% 0 0.0% 0 0.0% 0 0.0% Printing 0 0.0% 300 0.0% 140 0.0% 0 0.0% 20 0.0% 0 0.0% Promotions 0 0.0% 720 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% 100 0.1% 0 0.0% Small Tools 854 0.1% 900 0.1% 158 0.0% 447 0.4% 325 0.2% 409 0.3% Telephone 3,792 0.2% 2,925 0.2% 3,214 0.2% 0 0.0% 0 0.0% 71 0.1% Uniforms 1,523 0.1% 400 0.0% 691 0.0% 857 0.7% 1,125 0.8% 794 0.6% Utilities - Electric 6,929 0.4% 7,850 0.5% 6,976 0.4% 209 0.2% 225 0.2% 198 0.1% Utilities - Trash Removal 1,889 0.1% 2,025 0.1% 1,786 0.1% 7,392 6.2% 8,582 6.2% 6,006 4.2% TOTAL OTHER EXPENSES 69,296 4.4% 75,575 5.1% 68,150 4.4% 2,472 2.1% 1,816 1.3% 6,548 4.6% DEPARTMENTAL PROFIT/(LOSS) 102,345 6.5% 58,060 3.9% 98,533 6.3% 15

THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. MISCELLANEOUS DEPARTMENTAL PROFIT & LOSS June 30, 2017 M-T-D M-T-D M-T-D Y-T-D Y-T-D Y-T-D ACTUAL BUDGET LAST YEAR ACTUAL BUDGET LAST YEAR MISCELLANEOUS REVENUE 66,245 10.8% 66,282 10.4% 66,685 10.5% Dues - Debt Financing 598,308 0.0% 596,540 0.0% 598,505 0.0% 1,030 0.2% 858 0.1% 950 0.2% Dues - Pool Membership 8,926 0.0% 7,725 0.0% 8,738 0.0% 303 0.0% 1,667 0.3% 2,073 0.3% Finance Charges 5,027 0.0% 15,000 0.0% 14,407 0.0% 0 0.0% 0 0.0% 0 0.0% Interest Income 0 0.0% 0 0.0% 0 0.0% 2,800 0.5% 2,725 0.4% 2,725 0.4% Realty Office Rent 24,750 0.0% 24,525 0.0% 24,700 0.0% 1,250 0.2% 1,000 0.2% 750 0.1% Lease Processing Fee 49,250 0.0% 45,750 0.0% 45,500 0.0% 0 0.0% 25 0.0% 7 0.0% Miscellaneous Income - Transmitters 395 0.0% 225 0.0% 411 0.0% 1,686 0.3% 417 0.1% 249 0.0% Miscellaneous Income 5,339 0.0% 3,750 0.0% 3,873 0.0% 335,549 54.9% 335,742 52.7% 331,590 52.4% Dues - Operating 3,034,088 0.0% 3,021,678 0.0% 2,963,359 0.0% 0 0.0% 0 0.0% 0 0.0% Owner Fees - Discounts (120) 0.0% 0 0.0% (120) 0.0% 1,150 0.2% 833 0.1% 350 0.1% Owner Transfers Fees 7,100 0.1% 7,500 0.0% 8,800 0.1% 0 0.0% 0 0.0% 0 0.0% Riverside Memberships 0 0.1% 0 0.0% 0 0.1% 0 0.0% 0 0.0% 0 0.0% Riverside Annual 25,000 0.1% 25,000 0.0% 25,000 0.1% 410,013 67.1% 409,549 64.3% 405,379 64.0% TOTAL MISCELLANEOUS REVENUE 3,758,063 37.9% 3,747,693 39.4% 3,693,173 32.5% 16

THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. ADMINISTRATION & GENERAL DEPARTMENTAL PROFIT & LOSS June 30, 2017 M-T-D M-T-D M-T-D Y-T-D Y-T-D Y-T-D ACTUAL BUDGET LAST YEAR ACTUAL BUDGET LAST YEAR WAGES & BENEFITS 31,560 5.2% 32,514 5.1% 32,139 5.1% Salaries & Wages 292,334 4.0% 292,963 4.0% 287,920 4.0% 4,391 0.7% 4,454 0.7% 4,341 0.7% Payroll Burden 38,496 0.5% 40,136 0.6% 41,623 0.6% 1,518 0.2% 2,226 0.3% 2,233 0.4% Group Insurance 15,013 0.2% 20,030 0.3% 20,137 0.3% 3,250 0.5% 3,250 0.5% 1,460 0.2% Bonus 29,986 0.4% 29,250 0.4% 35,875 0.5% 1,594 0.3% 1,300 0.2% 2,266 0.4% Vacation/Holiday 9,397 0.1% 13,600 0.2% 16,283 0.2% 71 0.0% 300 0.0% 170 0.0% Miscellaneous 746 0.0% 1,400 0.0% 1,738 0.0% 42,383 6.9% 44,044 6.9% 42,609 6.7% TOTAL WAGES & BENEFITS 385,971 5.2% 397,379 5.5% 403,822 5.6% OTHER EXPENSES 0 0.0% 0 0.0% 2,500 0.4% Audit/Tax Prep 35,145 0.5% 34,500 0.5% 35,788 0.5% 96 0.0% 0 0.0% 0 0.0% Advertising - Help Wanted 358 0.0% 0 0.0% 25 0.0% 6,175 1.0% 6,175 1.0% 6,175 1.0% Accounting Fees 55,575 0.8% 55,575 0.8% 57,850 0.8% 1,500 0.2% 1,500 0.2% 1,500 0.2% Bad Debt 13,500 0.2% 13,500 0.2% 13,500 0.2% 1,128 0.2% 590 0.1% 730 0.1% Bank Fees 7,458 0.1% 9,235 0.1% 6,794 0.1% 254 0.0% 260 0.0% 222 0.0% Cable TV 2,231 0.0% 2,340 0.0% 2,231 0.0% (0) 0.0% 0 0.0% 20 0.0% Cash (Over) / Short 27 0.0% 0 0.0% 2 0.0% 630 0.1% 488 0.1% 1,161 0.2% Credit Card Discount Fees 4,321 0.1% 4,858 0.1% 5,660 0.1% 0 0.0% 0 0.0% 0 0.0% Decorations 1,138 0.0% 1,900 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Donations 0 0.0% 0 0.0% 0 0.0% 120 0.0% 575 0.1% 73 0.0% Dues & Subscriptions 1,678 0.0% 2,225 0.0% 1,500 0.0% 1,337 0.2% 1,441 0.2% 967 0.2% Leased Equipment 10,957 0.1% 12,969 0.2% 12,689 0.2% 3,125 0.5% 1,917 0.3% 1,400 0.2% Legal Fees 17,109 0.2% 17,250 0.2% 20,970 0.3% 2,003 0.3% 280 0.0% 438 0.1% Licence & Fees 3,902 0.1% 3,520 0.0% 4,536 0.1% 1,763 0.3% 1,535 0.2% 1,560 0.2% Maintenance Contracts 16,430 0.2% 13,815 0.2% 15,235 0.2% 0 0.0% 650 0.1% 1,220 0.2% Maintenance & Repairs 11,856 0.2% 5,950 0.1% 4,445 0.1% 658 0.1% 300 0.0% 98 0.0% Meals & Entertainment 13,232 0.2% 8,700 0.1% 8,355 0.1% 0 0.0% 0 0.0% 0 0.0% Member Relations 5,968 0.1% 3,700 0.1% 3,109 0.0% 212 0.0% 100 0.0% 101 0.0% Miscellaneous 2,105 0.0% 900 0.0% 2,051 0.0% 1,648 0.3% 1,499 0.2% 3,053 0.5% Office Expense 18,156 0.2% 18,043 0.2% 22,072 0.3% 0 0.0% 125 0.0% 0 0.0% Operating Supplies 194 0.0% 1,125 0.0% 805 0.0% 0 0.0% 0 0.0% 0 0.0% Pest Control 0 0.0% 0 0.0% 0 0.0% 1,368 0.2% 1,155 0.2% 1,362 0.2% Postage 12,248 0.2% 10,395 0.1% 12,700 0.2% 1,204 0.2% 120 0.0% 5,567 0.9% Printing 3,761 0.1% 4,005 0.1% 9,172 0.1% 0 0.0% 400 0.1% 93 0.0% Promotions 175 0.0% 2,250 0.0% 1,209 0.0% 523 0.1% 450 0.1% 1,305 0.2% Storage 7,274 0.1% 4,050 0.1% 6,950 0.1% 937 0.2% 920 0.1% 1,219 0.2% Telephone 9,192 0.1% 8,280 0.1% 9,176 0.1% 0 0.0% 0 0.0% 0 0.0% Training 0 0.0% 0 0.0% 0 0.0% 0 0.0% 150 0.0% 79 0.0% Travel Expense 928 0.0% 1,350 0.0% 1,082 0.0% 0 0.0% 25 0.0% 0 0.0% Uniforms 30 0.0% 225 0.0% 156 0.0% 24,680 4.0% 20,655 3.2% 30,843 4.9% TOTAL OTHER EXPENSES 255,419 3.5% 240,660 3.3% 258,821 3.6% 67,063 11.0% 64,699 10.2% 73,452 11.6% DEPARTMENTAL EXPENSE 641,390 8.7% 638,039 8.8% 662,643 9.2% 17