The Landings Yacht Golf & Tennis Club, Inc.

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

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 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

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

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 $863.72. The current list has 1 account. One new account was added. Capital Contributions: During the month of February 2017, the Club received $20,000.00 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 $144,000.00. 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

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 11.15 10.15 1.00 11.54 (.39) Total Revenue 41,698 43,038 (1,340) 45,266 (4,228) NOI 2,419 944 1,475 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

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

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

THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. BALANCE SHEET February 28, 2017 Same Month Current Month Previous Month Last Year ASSETS Cash CASH - OPERATING 649,037 451,540 360,021 CASH - CAPITAL RESERVE FUNDS 505,336 455,714 603,606 CASH - UTILITY INFRASTRUCTURE SET-ASIDE 268,500 268,500 243,500 Total Cash 1,422,873 1,175,754 1,207,127 Account Receivable ACCOUNTS RECEIVABLE - MEMBER ACCOUNTS 803,685 800,715 929,257 ALLOWANCE FOR DOUBTFUL ACCOUNTS (11,590) 33,440 (7,443) Total Accounts Receivable 792,095 834,155 921,813 Inventory INVENTORY - FOOD 34,831 33,626 34,836 INVENTORY - BEVERAGE 41,841 42,242 45,780 INVENTORY - GATE TRANSMITTER 815 986 1,887 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 241,600 243,520 294,986 Prepaid Expenses PREPAID INSURANCE 195,314 223,216 234,656 PREPAID OTHER 55,407 60,396 58,575 Total Prepaid Expenses 250,721 283,612 293,231 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 561,916 532,099 446,965 CAPITALIZED LOAN FEES 134,349 136,739 99,580 WIP CLUBHOUSE INFRASTRUCTURE 0 0 0 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

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 173,603 134,554 184,595 ACCOUNTS PAYABLE - INSURANCE 127,159 151,731 155,913 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 609,669 633,263 556,063 Total Accounts Payable 945,673 947,589 895,789 Accrued Liabilities ACCRUED OTHER 19,121 14,120 15,670 ACCRUED UTILITIES 2,665 3,485 17,477 ACCRUED PAYROLL 211,455 209,294 202,624 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 535,226 534,197 524,429 Total Accrued Liabilities 849,365 834,431 855,221 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 449,674 419,807 434,860 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

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 922,665 100.0% 892,372 100.0% 895,028 100.0% TOTAL REVENUE 4,151,961 100.0% 4,062,786 100.0% 4,016,422 100.0% FOOD & BEVERAGE 241,780 100.0% 239,128 100.0% 242,824 100.0% Total F&B Revenue 912,628 100.0% 949,953 100.0% 888,306 100.0% 116,321 48.1% 121,938 51.0% 123,399 50.8% Wages & Benefits 567,647 62.2% 606,812 63.9% 591,957 66.6% 55,726 36.2% 63,206 41.3% 67,127 43.7% Food Cost Of Sales 215,422 35.7% 261,183 41.2% 243,085 41.2% 22,038 32.9% 20,477 32.0% 19,659 29.9% Beverage Cost Of Sales 83,930 31.4% 85,952 32.0% 81,395 31.8% 37,872 15.7% 42,283 17.7% 42,299 17.4% Other Expenses 147,637 16.2% 169,659 17.9% 151,562 17.1% 9,822 4.1% (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) 41,698 100.0% 43,038 100.0% 45,266 100.0% Total Pro Shop Revenue 164,941 100.0% 160,056 100.0% 160,907 100.0% 26,957 64.6% 26,217 60.9% 28,013 61.9% Wages & Benefits 123,828 75.1% 129,791 81.1% 117,595 73.1% 4,999 50.9% 9,135 73.0% 9,005 72.0% Cost Of Sales 25,068 61.0% 35,715 73.0% 37,804 79.1% 7,323 17.6% 6,742 15.7% 5,486 12.1% Other Expenses 36,210 22.0% 35,070 21.9% 31,047 19.3% 2,419 5.8% 944 2.2% 2,762 6.1% GOLF OPERATIONS PROFIT/(LOSS) (20,165) -12.2% (40,520) -25.3% (25,539) -15.9% TENNIS OPERATIONS PROFIT/(LOSS) 25,117 100.0% 21,518 100.0% 25,074 100.0% Total Pro Shop Revenue 125,368 100.0% 114,292 100.0% 126,678 100.0% 25,111 100.0% 30,404 141.3% 25,917 103.4% Wages & Benefits 144,517 115.3% 144,164 126.1% 130,332 102.9% 4,626 62.1% 5,614 80.2% 3,850 60.0% Cost Of Sales 26,224 72.7% 32,080 80.2% 31,611 81.5% 9,875 39.3% 3,495 16.2% 8,078 32.2% Other Expenses 36,674 29.3% 32,666 28.6% 45,050 35.6% (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) 196,072 100.0% 171,888 100.0% 174,755 100.0% Total Marina Revenue 858,470 100.0% 757,240 100.0% 793,232 100.0% 21,513 11.0% 20,414 11.9% 21,924 12.5% Wages & Benefits 109,686 12.8% 106,782 14.1% 105,497 13.3% 147,401 79.3% 133,662 82.2% 127,545 76.3% Cost Of Sales 658,116 80.8% 586,119 81.9% 599,673 79.4% 8,390 4.3% 8,432 4.9% 5,225 3.0% Other Expenses 37,288 4.3% 41,897 5.5% 35,658 4.5% 18,768 9.6% 9,380 5.5% 20,061 11.5% MARINA OPERATIONS PROFIT/(LOSS) 53,381 6.2% 22,442 3.0% 52,403 6.6% 417,999 45.3% 416,799 46.7% 407,110 45.5% TOTAL MISCELLANEOUS INCOME 2,090,554 50.4% 2,081,246 51.2% 2,047,299 51.0% OVERHEAD DEPARTMENTS 61,670 6.7% 63,195 7.1% 65,044 7.3% Administrative & General 368,305 8.9% 363,233 8.9% 382,728 9.5% 27,627 3.0% 27,413 3.1% 26,057 2.9% Community Patrol 141,214 3.4% 146,207 3.6% 139,381 3.5% 65,682 7.1% 60,690 6.8% 60,512 6.8% Golf Course Maintenance 377,678 9.1% 366,798 9.0% 350,778 8.7% 57,499 6.2% 55,086 6.2% 58,216 6.5% Property Maintenance 291,799 7.0% 280,285 6.9% 271,592 6.8% 34,499 3.7% 29,044 3.3% 27,862 3.1% Utilities 157,292 3.8% 146,302 3.6% 136,638 3.4% 246,977 26.8% 235,429 26.4% 237,691 26.6% TOTAL OVERHEAD DEPARTMENT EXPENSE 1,336,289 32.2% 1,302,824 32.1% 1,281,118 31.9% 187,536 20.3% 164,925 18.5% 169,810 19.0% GROSS OPERATING PROFIT/(LOSS) 603,425 14.5% 492,073 12.1% 533,038 13.3% 29,108 3.2% 32,991 3.7% 33,382 3.7% Insurance 142,354 3.4% 164,955 4.1% 171,460 4.3% 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% 508 0.1% 0 0.0% 0 0.0% Taxes Personal Property - Lease 6,867 0.2% 7,494 0.2% 7,605 0.2% 0 0.0% 0 0.0% 0 0.0% Taxes - Income Tax 0 0.0% 0 0.0% 0 0.0% 8,550 0.9% 8,550 1.0% 9,000 1.0% Management Fees 42,750 1.0% 42,750 1.1% 45,000 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% 149,370 16.2% 123,384 13.8% 127,428 14.2% PROFIT/(LOSS) BEFORE DEP/AMORT/INT 406,454 9.8% 276,874 6.8% 308,973 7.7% 113,658 12.3% 100,280 11.2% 100,281 11.2% Depreciation & Amortization 515,793 12.4% 501,400 12.3% 501,405 12.5% 10,918 1.2% 18,485 2.1% 22,243 2.5% Interest 80,171 1.9% 93,015 2.3% 112,330 2.8% 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% 24,794 2.7% 4,619 0.5% 4,904 0.5% NET INCOME/(LOSS) (189,510) -4.6% (317,541) -7.8% (304,761) -7.6% 9

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 117,997 48.8% 107,655 45.0% 110,331 45.4% Dining Room 414,869 45.5% 444,787 46.8% 410,641 46.2% 35,909 14.9% 45,491 19.0% 43,424 17.9% Banquet 188,134 20.6% 189,179 19.9% 179,131 20.2% 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% 153,906 63.7% 153,146 64.0% 153,756 63.3% TOTAL FOOD REVENUE 603,003 66.1% 633,966 66.7% 589,773 66.4% BEVERAGE REVENUE 53,289 22.0% 50,342 21.1% 48,767 20.1% Dining Room 204,119 22.4% 211,847 22.3% 195,551 22.0% 13,775 5.7% 13,647 5.7% 16,893 7.0% Banquet 63,312 6.9% 56,754 6.0% 60,414 6.8% 0 0.0% 0 0.0% 0 0.0% Patio 0 0.0% 0 0.0% 0 0.0% 67,064 27.7% 63,989 26.8% 65,661 27.0% TOTAL BEVERAGE REVENUE 267,430 29.3% 268,601 28.3% 255,965 28.8% OTHER REVENUE 3,435 1.4% 3,683 1.5% 3,683 1.5% Helm Club Dues 17,672 1.9% 18,417 1.9% 18,202 2.0% 17,374 7.2% 18,310 7.7% 19,724 8.1% Miscellaneous 24,522 2.7% 28,970 3.0% 24,366 2.7% 20,809 8.6% 21,993 9.2% 23,407 9.6% TOTAL OTHER REVENUE 42,195 4.6% 47,387 5.0% 42,568 4.8% 241,780 100.0% 239,128 100.0% 242,824 100.0% TOTAL FOOD & BEVERAGE REVENUE 912,628 100.0% 949,953 100.0% 888,306 100.0% COST OF SALES 55,726 36.2% 63,206 41.3% 67,127 43.7% Food Cost of Sales 215,422 35.7% 261,183 41.2% 243,085 41.2% 22,038 32.9% 20,477 32.0% 19,659 29.9% Beverage Cost of Sales 83,930 31.4% 85,952 32.0% 81,395 31.8% 77,764 32.2% 83,683 35.0% 86,786 35.7% TOTAL COST OF SALES 299,353 32.8% 347,135 36.5% 324,480 36.5% WAGES & BENEFITS 44,876 18.6% 46,837 19.6% 47,108 19.4% Salaries & Wages - Dining Room 217,229 23.8% 224,086 23.6% 215,862 24.3% 43,569 18.0% 43,134 18.0% 41,075 16.9% Salaries & Wages - Kitchen 202,893 22.2% 221,718 23.3% 207,971 23.4% 18,811 7.8% 17,642 7.4% 19,661 8.1% Payroll Burden 86,652 9.5% 86,898 9.1% 85,722 9.7% 4,673 1.9% 3,540 1.5% 3,687 1.5% Employee Meals 21,090 2.3% 17,670 1.9% 18,525 2.1% 3,698 1.5% 7,571 3.2% 7,937 3.3% Group Insurance 20,347 2.2% 37,342 3.9% 38,743 4.4% 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% 79 0.0% 2,344 1.0% 2,604 1.1% Vacation/Holiday 15,098 1.7% 14,747 1.6% 19,842 2.2% 304 0.1% 525 0.2% 578 0.2% 401(k) Program 2,035 0.2% 2,625 0.3% 2,994 0.3% 313 0.1% 345 0.1% 748 0.3% Miscellaneous 2,305 0.3% 1,725 0.2% 2,298 0.3% 116,321 48.1% 121,938 51.0% 123,399 50.8% TOTAL WAGES & BENEFITS 567,647 62.2% 606,812 63.9% 591,957 66.6% OTHER EXPENSES 25 0.0% 50 0.0% 450 0.2% Advertising - Help Wanted 125 0.0% 300 0.0% 1,200 0.1% 3 0.0% 0 0.0% 14 0.0% Banquet Supplies 2,499 0.3% 3,900 0.4% 692 0.1% 348 0.1% 563 0.2% 408 0.2% Cable TV 2,307 0.3% 2,815 0.3% 2,018 0.2% 0 0.0% 0 0.0% 0 0.0% Cash ( Over ) / Short 0 0.0% 0 0.0% (16) 0.0% 1,249 0.5% 100 0.0% 630 0.3% China/Glass/Silverware 6,893 0.8% 9,700 1.0% 6,150 0.7% 739 0.3% 1,600 0.7% 1,812 0.7% Cleaning Supplies 5,322 0.6% 6,800 0.7% 6,009 0.7% 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 416 0.0% 950 0.1% 900 0.1% 2,223 0.9% 2,508 1.0% 2,426 1.0% Credit Card Discounts Fees 8,591 0.9% 8,371 0.9% 7,515 0.8% 292 0.1% 750 0.3% 702 0.3% Decorations 4,356 0.5% 5,450 0.6% 4,292 0.5% 0 0.0% 0 0.0% 495 0.2% Dues & Subscriptions 2,541 0.3% 2,740 0.3% 620 0.1% 6,050 2.5% 7,650 3.2% 8,668 3.6% Equipment Rental 7,794 0.9% 9,909 1.0% 9,097 1.0% 0 0.0% 0 0.0% 40 0.0% Gasoline & Oil 56 0.0% 0 0.0% 165 0.0% 0 0.0% 150 0.1% 0 0.0% Kitchen Equipment 504 0.1% 750 0.1% 175 0.0% 2,990 1.2% 3,495 1.5% 4,066 1.7% Laundry & Linen 12,634 1.4% 14,450 1.5% 16,753 1.9% 1,169 0.5% 1,146 0.5% 1,165 0.5% Leased Equipment 6,026 0.7% 5,730 0.6% 5,825 0.7% 663 0.3% 617 0.3% 684 0.3% License & Fees 1,472 0.2% 1,514 0.2% 1,314 0.1% 0 0.0% 0 0.0% 0 0.0% Locker Room Supplies 0 0.0% 0 0.0% 0 0.0% 3,556 1.5% 1,105 0.5% 820 0.3% Maintenance Contracts 9,851 1.1% 11,215 1.2% 7,459 0.8% 1,256 0.5% 2,100 0.9% 1,700 0.7% Maintenance & Repairs 7,219 0.8% 9,500 1.0% 8,918 1.0% 734 0.3% 695 0.3% 363 0.1% Marketing & Advertising 1,234 0.1% 1,335 0.1% 1,489 0.2% 0 0.0% 0 0.0% 0 0.0% Menus & Drink List 0 0.0% 0 0.0% 0 0.0% 50 0.0% 0 0.0% 378 0.2% Meals & Entertainment 50 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% 1,023 0.4% 1,100 0.5% 2,105 0.9% Miscellaneous 3,567 0.4% 2,150 0.2% 4,380 0.5% 8,500 3.5% 11,600 4.9% 9,075 3.7% Music & Entertainment 32,743 3.6% 36,700 3.9% 33,120 3.7% 382 0.2% 240 0.1% 322 0.1% Office Expense 1,581 0.2% 1,280 0.1% 1,339 0.2% 2,332 1.0% 2,195 0.9% 1,923 0.8% Operating Supplies 8,005 0.9% 9,390 1.0% 11,130 1.3% 1,980 0.8% 2,150 0.9% 1,543 0.6% Paper & Plastic 8,130 0.9% 8,650 0.9% 7,650 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% 0 0.0% 1,364 0.6% 1,450 0.6% 1,140 0.5% Promotions 6,260 0.7% 5,715 0.6% 4,348 0.5% 0 0.0% 0 0.0% 0 0.0% Table & Bar Supplies 0 0.0% 0 0.0% 0 0.0% 726 0.3% 844 0.4% 701 0.3% Telephone 3,663 0.4% 4,220 0.4% 4,263 0.5% 0 0.0% 0 0.0% 0 0.0% Travel 0 0.0% 0 0.0% 0 0.0% 105 0.0% 75 0.0% 655 0.3% Uniforms 2,915 0.3% 5,025 0.5% 4,175 0.5% 113 0.0% 100 0.0% 16 0.0% Utensils 883 0.1% 1,100 0.1% 207 0.0% 37,872 15.7% 42,283 17.7% 42,299 17.4% TOTAL OTHER EXPENSES 147,637 16.2% 169,659 17.9% 151,562 17.1% 9,822 4.1% (8,775) -3.7% (9,661) -4.0% DEPARTMENTAL PROFIT/(LOSS) (102,009) -11.2% (173,654) -18.3% (179,693) -20.2% 10

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 86,513 71.7% 75,612 70.4% 77,833 71.3% Dining Room 292,196 69.5% 326,343 69.5% 294,653 69.7% 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% 86,513 71.7% 75,612 70.4% 77,833 71.3% TOTAL FOOD REVENUE 292,196 69.5% 326,343 69.5% 294,653 69.7% BEVERAGE REVENUE 34,132 28.3% 31,757 29.6% 31,328 28.7% Dining Room 127,960 30.5% 143,149 30.5% 128,192 30.3% 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% 34,132 28.3% 31,757 29.6% 31,328 28.7% TOTAL BEVERAGE REVENUE 127,960 30.5% 143,149 30.5% 128,192 30.3% 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% 120,645 100.0% 107,369 100.0% 109,160 100.0% TOTAL FOOD & BEVERAGE REVENUE 420,156 100.0% 469,492 100.0% 422,845 100.0% COST OF SALES 31,287 36.2% 29,867 39.5% 31,247 40.1% Food Cost of Sales 107,029 36.6% 128,905 39.5% 113,485 38.5% 11,815 34.6% 10,162 32.0% 9,534 30.4% Beverage Cost of Sales 42,857 33.5% 45,808 32.0% 42,314 33.0% 43,101 35.7% 40,029 37.3% 40,781 37.4% TOTAL COST OF SALES 149,886 35.7% 174,713 37.2% 155,798 36.8% WAGES & BENEFITS 22,688 18.8% 24,317 22.6% 24,763 22.7% Salaries & Wages - Dining Room 106,296 25.3% 117,775 25.1% 113,159 26.8% 23,695 19.6% 21,186 19.7% 20,869 19.1% Salaries & Wages - Kitchen 108,691 25.9% 107,698 22.9% 99,826 23.6% 11,010 9.1% 10,082 9.4% 11,195 10.3% Payroll Burden 48,175 11.5% 49,442 10.5% 48,578 11.5% 2,551 2.1% 2,400 2.2% 2,544 2.3% Employee Meals 12,808 3.0% 10,900 2.3% 12,121 2.9% 2,629 2.2% 4,371 4.1% 4,154 3.8% Group Insurance 14,241 3.4% 21,342 4.5% 23,030 5.4% 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% 79 0.1% 1,500 1.4% 1,760 1.6% Vacation/Holiday 10,902 2.6% 9,103 1.9% 12,777 3.0% 193 0.2% 275 0.3% 266 0.2% 401(k) Program 1,308 0.3% 1,375 0.3% 1,302 0.3% 151 0.1% 240 0.2% 335 0.3% Miscellaneous 1,349 0.3% 1,200 0.3% 1,606 0.4% 62,996 52.2% 64,371 60.0% 65,884 60.4% TOTAL WAGES & BENEFITS 303,769 72.3% 318,835 67.9% 312,398 73.9% OTHER EXPENSES 0 0.0% 0 0.0% 225 0.2% Advertising - Help Wanted 25 0.0% 100 0.0% 638 0.2% 0 0.0% 0 0.0% 0 0.0% Banquet Supplies 0 0.0% 0 0.0% 0 0.0% 145 0.1% 288 0.3% 221 0.2% Cable TV 1,351 0.3% 1,440 0.3% 1,099 0.3% 0 0.0% 0 0.0% 0 0.0% Cash ( Over ) / Short 0 0.0% 0 0.0% (12) 0.0% 1,145 0.9% 100 0.1% 297 0.3% China/Glass/Silverware 4,401 1.0% 5,700 1.2% 3,254 0.8% 363 0.3% 500 0.5% 438 0.4% Cleaning Supplies 2,187 0.5% 2,200 0.5% 1,889 0.4% 0 0.0% 0 0.0% 0 0.0% Clubhouse Cleaning 0 0.0% 0 0.0% 0 0.0% 1,580 1.3% 1,615 1.5% 1,533 1.4% Credit Card Discounts Fees 5,043 1.2% 5,815 1.2% 5,137 1.2% 0 0.0% 0 0.0% 0 0.0% Decorations 0 0.0% 600 0.1% 109 0.0% 0 0.0% 0 0.0% 0 0.0% Dues & Subscriptions 1,021 0.2% 1,145 0.2% 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% 20 0.0% Gasoline & Oil 28 0.0% 0 0.0% 83 0.0% 0 0.0% 75 0.1% 0 0.0% Kitchen Equipment 95 0.0% 375 0.1% 0 0.0% 1,194 1.0% 1,155 1.1% 1,794 1.6% Laundry & Linen 4,859 1.2% 4,950 1.1% 6,466 1.5% 454 0.4% 416 0.4% 308 0.3% Leased Equipment 2,459 0.6% 2,080 0.4% 1,542 0.4% 0 0.0% 0 0.0% 67 0.1% License & Fees 273 0.1% 273 0.1% 340 0.1% 635 0.5% 333 0.3% 285 0.3% Maintenance Contracts 3,627 0.9% 4,065 0.9% 2,509 0.6% 185 0.0% 700 0.7% 19 0.0% Maintenance & Repairs 2,076 0.5% 2,900 0.6% 2,544 0.6% 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% 18 0.0% Miscellaneous 66 0.0% 0 0.0% 50 0.0% 1,650 1.4% 1,900 1.8% 1,625 1.5% Music & Entertainment 6,900 1.6% 9,350 2.0% 7,875 1.9% 42 0.0% 40 0.0% 23 0.0% Office Expense 358 0.1% 280 0.1% 297 0.1% 903 0.7% 675 0.6% 445 0.4% Operating Supplies 3,539 0.8% 3,560 0.8% 4,408 1.0% 855 0.7% 1,000 0.9% 214 0.2% Paper & Plastic 3,842 0.9% 4,550 1.0% 3,704 0.9% 377 0.3% 650 0.6% 589 0.5% Promotions 2,658 0.6% 2,665 0.6% 2,088 0.5% 386 0.3% 374 0.3% 365 0.3% Telephone 1,580 0.4% 1,870 0.4% 2,090 0.5% 0 0.0% 0 0.0% 0 0.0% Travel 0 0.0% 0 0.0% 0 0.0% 31 0.0% 50 0.0% 355 0.3% Uniforms 1,186 0.3% 1,750 0.4% 1,279 0.3% 0 0.0% 0 0.0% 16 0.0% Utensils 0 0.0% 0 0.0% 16 0.0% 9,949 8.2% 9,871 9.2% 8,858 8.1% TOTAL OTHER EXPENSES 47,574 11.3% 55,668 11.9% 47,403 11.2% 4,600 3.8% (6,902) -6.4% (6,362) -5.8% DEPARTMENTAL PROFIT/(LOSS) (81,073) -19.3% (79,724) -17.0% (92,754) -21.9% 11

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 31,484 26.0% 32,043 24.3% 32,498 24.3% Compass Rose 122,673 24.9% 118,444 24.7% 115,988 24.9% 35,909 29.6% 45,491 34.5% 43,424 32.5% Banquet 188,134 38.2% 189,179 39.4% 179,131 38.5% 0 0.0% 0 0.0% 0 0.0% Beverage Cart 0 0.0% 0 0.0% 0 0.0% 67,393 55.6% 77,534 58.8% 75,923 56.8% TOTAL FOOD REVENUE 310,807 63.1% 307,623 64.0% 295,119 63.4% BEVERAGE REVENUE 19,157 15.8% 18,585 14.1% 17,440 13.0% Compass Rose 76,158 15.5% 68,698 14.3% 67,359 14.5% 13,775 11.4% 13,647 10.4% 16,893 12.6% Banquet 63,312 12.9% 56,754 11.8% 60,414 13.0% 32,932 27.2% 32,232 24.5% 34,333 25.7% TOTAL BEVERAGE REVENUE 139,470 28.3% 125,451 26.1% 127,773 27.5% OTHER REVENUE 3,435 2.8% 3,683 2.8% 3,683 2.8% Helm Club Dining Dues 17,672 3.6% 18,417 3.8% 18,202 3.9% 17,374 14.3% 18,310 13.9% 19,724 14.8% Miscellaneous 24,522 5.0% 28,970 6.0% 24,366 5.2% 20,809 17.2% 21,993 16.7% 23,407 17.5% TOTAL OTHER REVENUE 42,195 8.6% 47,387 9.9% 42,568 9.1% 121,134 100.0% 131,759 100.0% 133,663 100.0% TOTAL FOOD & BEVERAGE REVENUE 492,472 100.0% 480,461 100.0% 465,460 100.0% COST OF SALES 24,440 36.3% 33,340 43.0% 35,881 47.3% Food Cost of Sales 108,393 34.9% 132,278 43.0% 129,600 43.9% 10,223 31.0% 10,314 32.0% 10,125 29.5% Beverage Cost of Sales 41,074 29.4% 40,144 32.0% 39,081 30.6% 34,663 28.6% 43,654 33.1% 46,005 34.4% TOTAL COST OF SALES 149,467 30.4% 172,422 35.9% 168,681 36.2% WAGES & BENEFITS 22,188 18.3% 22,520 17.1% 22,345 16.7% Salaries & Wages - Dining Room 110,933 22.5% 106,311 22.1% 102,702 22.1% 19,874 16.4% 21,948 16.7% 20,206 15.1% Salaries & Wages - Kitchen 94,202 19.1% 114,020 23.7% 108,145 23.2% 7,801 6.4% 7,560 5.7% 8,466 6.3% Payroll Burden 38,477 7.8% 37,456 7.8% 37,144 8.0% 2,122 1.8% 1,140 0.9% 1,143 0.9% Employee Meals 8,283 1.7% 6,770 1.4% 6,403 1.4% 1,069 0.9% 3,200 2.4% 3,783 2.8% Group Insurance 6,106 1.2% 16,000 3.3% 15,713 3.4% 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% 0 0.0% 844 0.6% 844 0.6% Vacation/Holiday 4,196 0.9% 5,644 1.2% 7,065 1.5% 111 0.1% 250 0.2% 313 0.2% 401(k) Program 727 0.1% 1,250 0.3% 1,693 0.4% 161 0.1% 105 0.1% 414 0.3% Miscellaneous 955 0.2% 525 0.1% 692 0.1% 53,326 44.0% 57,566 43.7% 57,515 43.0% TOTAL WAGES & BENEFITS 263,878 53.6% 287,977 59.9% 279,559 60.1% OTHER EXPENSES 25 0.0% 50 0.0% 225 0.2% Advertising - Help Wanted 100 0.0% 200 0.0% 563 0.1% 3 0.0% 0 0.0% 14 0.0% Banquet Supplies 2,499 0.5% 3,900 0.8% 692 0.1% 202 0.2% 275 0.2% 187 0.1% Cable TV 956 0.2% 1,375 0.3% 919 0.2% 0 0.0% 0 0.0% 0 0.0% Cash ( Over ) / Short 0 0.0% 0 0.0% (4) 0.0% 105 0.1% 0 0.0% 333 0.2% China/Glass/Silverware 2,492 0.5% 4,000 0.8% 2,896 0.6% 377 0.3% 1,100 0.8% 1,375 1.0% Cleaning Supplies 3,135 0.6% 4,600 1.0% 4,120 0.9% 0 0.0% 0 0.0% 0 0.0% Contract Labor 416 0.1% 950 0.2% 900 0.2% 643 0.5% 893 0.7% 893 0.7% Credit Card Discounts Fees 3,548 0.7% 2,556 0.5% 2,377 0.5% 292 0.2% 750 0.6% 702 0.5% Decorations 4,356 0.9% 4,850 1.0% 4,183 0.9% 0 0.0% 0 0.0% 495 0.4% Dues & Subscriptions 1,520 0.3% 1,595 0.3% 620 0.1% 6,050 5.0% 7,650 5.8% 8,668 6.5% Equipment Rental 7,794 1.6% 9,909 2.1% 9,097 2.0% 0 0.0% 0 0.0% 20 0.0% Gasoline & Oil 28 0.0% 0 0.0% 83 0.0% 0 0.0% 75 0.1% 0 0.0% Kitchen Equipment 408 0.1% 375 0.1% 175 0.0% 1,796 1.5% 2,340 1.8% 2,271 1.7% Laundry & Linen 7,775 1.6% 9,500 2.0% 10,287 2.2% 715 0.6% 730 0.6% 856 0.6% Leased Equipment 3,567 0.7% 3,650 0.8% 4,283 0.9% 663 0.5% 617 0.5% 617 0.5% License & Fees 1,199 0.2% 1,241 0.3% 974 0.2% 2,922 2.4% 772 0.6% 535 0.4% Maintenance Contracts 6,224 1.3% 7,150 1.5% 4,949 1.1% 1,071 0.9% 1,400 1.1% 1,680 1.3% Maintenance & Repairs 5,143 1.0% 6,600 1.4% 6,374 1.4% 734 0.6% 695 0.5% 363 0.3% Marketing & Advertising 1,234 0.3% 1,335 0.3% 1,489 0.3% 0 0.0% 0 0.0% 0 0.0% Menus & Drink List 0 0.0% 0 0.0% 0 0.0% 50 0.0% 0 0.0% 378 0.3% Meals & Entertainment 50 0.0% 0 0.0% 378 0.1% 1,018 0.8% 1,100 0.8% 2,087 1.6% Miscellaneous 3,501 0.7% 2,150 0.4% 4,330 0.9% 6,850 5.7% 9,700 7.4% 7,450 5.6% Music & Entertainment 25,843 5.2% 27,350 5.7% 25,245 5.4% 340 0.3% 200 0.2% 299 0.2% Office Expense 1,223 0.2% 1,000 0.2% 1,042 0.2% 1,429 1.2% 1,520 1.2% 1,478 1.1% Operating Supplies 4,466 0.9% 5,830 1.2% 6,722 1.4% 1,125 0.9% 1,150 0.9% 1,329 1.0% Paper & Plastic 4,288 0.9% 4,100 0.9% 3,946 0.8% 0 0.0% 0 0.0% 0 0.0% Printing 0 0.0% 0 0.0% 0 0.0% 987 0.8% 800 0.6% 551 0.4% Promotions 3,603 0.7% 3,050 0.6% 2,260 0.5% 340 0.3% 470 0.4% 336 0.3% Telephone 2,083 0.4% 2,350 0.5% 2,173 0.5% 0 0.0% 0 0.0% 0 0.0% Travel 0 0.0% 0 0.0% 0 0.0% 75 0.1% 25 0.0% 300 0.2% Uniforms 1,729 0.4% 3,275 0.7% 2,896 0.6% 113 0.1% 100 0.1% 0 0.0% Utensils 883 0.2% 1,100 0.2% 191 0.0% 27,923 23.1% 32,412 24.6% 33,441 25.0% TOTAL OTHER EXPENSES 100,063 20.3% 113,991 23.7% 104,159 22.4% 5,223 4.3% (1,873) -1.4% (3,298) -2.5% DEPARTMENTAL PROFIT/(LOSS) (20,936) -4.3% (93,930) -19.5% (86,938) -18.7% 12

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 17,449 41.8% 16,699 38.8% 17,581 38.8% Cart Revenue 65,785 39.9% 60,440 37.8% 59,950 37.3% 0 0.0% 0 0.0% 0 0.0% Locker Revenue 0 0.0% 0 0.0% 0 0.0% 6,610 15.9% 7,018 16.3% 8,340 18.4% Green Fees 19,700 11.9% 17,205 10.7% 17,963 11.2% 9,828 23.6% 12,514 29.1% 12,514 27.6% Golf Merchandise 41,109 24.9% 48,925 30.6% 47,764 29.7% 1,600 3.8% 1,590 3.7% 1,600 3.5% Club Storage 8,000 4.9% 7,950 5.0% 8,256 5.1% 0 0.0% 0 0.0% 0 0.0% Reciprocal 958 0.6% 550 0.3% 1,629 1.0% 3,290 7.9% 2,427 5.6% 2,427 5.4% Practice Range 11,771 7.1% 8,586 5.4% 8,586 5.3% 0 0.0% 0 0.0% 0 0.0% Summer Golf Memberships 0 0.0% 0 0.0% 0 0.0% 110 0.3% 240 0.6% 240 0.5% Handicaps 7,230 4.4% 6,550 4.1% 6,550 4.1% 754 1.8% 930 2.2% 942 2.1% Pull Cart Rental 2,446 1.5% 2,420 1.5% 2,468 1.5% 0 0.0% 0 0.0% 0 0.0% Miscellaneous Income 20 0.0% 0 0.0% 0 0.0% 110 0.3% 260 0.6% 260 0.6% Miscellaneous Shop Service 510 0.3% 770 0.5% 730 0.5% 940 2.3% 900 2.1% 910 2.0% Lessons 4,945 3.0% 4,900 3.1% 5,190 3.2% 940 2.3% 340 0.8% 340 0.8% Lessons Asst Golf Pro 2,260 1.4% 1,140 0.7% 1,200 0.7% 66 0.2% 120 0.3% 112 0.2% Club Repair 207 0.1% 620 0.4% 622 0.4% 41,698 100.0% 43,038 100.0% 45,266 100.0% TOTAL GOLF REVENUE 164,941 100.0% 160,056 100.0% 160,907 100.0% COST OF SALES 4,869 49.5% 8,760 70.0% 8,924 71.3% Golf Merchandise COS 23,686 57.6% 34,248 70.0% 36,919 77.3% 142 1.4% 250 2.0% 149 1.2% Golf Merchandise Freight COS 1,702 4.1% 979 2.0% 1,529 3.2% 11-0.1% (125) 1.0% 68-0.5% Golf Merchandise Discounts COS 320-0.8% (489) 1.0% 643-1.3% 4,999 50.9% 9,135 73.0% 9,005 72.0% TOTAL COST OF SALES 25,068 61.0% 35,715 73.0% 37,804 79.1% WAGES & BENEFITS 20,784 49.8% 20,231 47.0% 21,401 47.3% Salaries & Wages 93,459 56.7% 100,056 62.5% 89,093 55.4% 2,133 5.1% 1,954 4.5% 1,862 4.1% Commissions/Lessons 9,771 5.9% 8,736 5.5% 9,122 5.7% 3,561 8.5% 2,925 6.8% 3,472 7.7% Payroll Burden 15,456 9.4% 14,646 9.2% 14,383 8.9% 0 0.0% 0 0.0% 0 0.0% Employee Meals 0 0.0% 0 0.0% 0 0.0% 477 1.1% 715 1.7% 715 1.6% Group Insurance 2,298 1.4% 3,575 2.2% 2,525 1.6% 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% 0 0.0% 262 0.6% 267 0.6% Vacation/Holiday 2,234 1.4% 2,128 1.3% 1,781 1.1% 2 0.0% 100 0.2% 0 0.0% 401(k) Program 9 0.0% 500 0.3% 0 0.0% 0 0.0% 30 0.1% 295 0.7% Miscellaneous 599 0.4% 150 0.1% 690 0.4% 26,957 64.6% 26,217 60.9% 28,013 61.9% TOTAL WAGES & BENEFITS 123,828 75.1% 129,791 81.1% 117,595 73.1% OTHER EXPENSES 0 0.0% 0 0.0% 0 0.0% Advertising - Help Wanted 0 0.0% 0 0.0% 25 0.0% 30 0.1% 33 0.1% 30 0.1% Cable TV 150 0.1% 165 0.1% 150 0.1% 0 0.0% 0 0.0% 0 0.0% Cash ( Over ) / Short 11 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Cleaning Supplies 0 0.0% 40 0.0% 0 0.0% 292 0.7% 436 1.0% 385 0.9% Credit Card Discount Fees 1,017 0.6% 1,238 0.8% 1,101 0.7% 0 0.0% 25 0.1% 0 0.0% Decorations 49 0.0% 175 0.1% 70 0.0% 0 0.0% 0 0.0% 0 0.0% Donations 0 0.0% 0 0.0% 0 0.0% 123 0.3% 0 0.0% 0 0.0% Dues & Subscriptions 441 0.3% 110 0.1% 260 0.2% 0 0.0% 0 0.0% 0 0.0% Laundry & Linen 0 0.0% 0 0.0% 0 0.0% 4,849 11.6% 3,720 8.6% 3,502 7.7% Leased Equipment 19,842 12.0% 17,799 11.1% 17,510 10.9% 506 1.2% 816 1.9% 585 1.3% Maintenance Contracts 4,610 2.8% 4,079 2.5% 2,926 1.8% 80 0.2% 117 0.3% 0 0.0% Maintenance & Repairs 533 0.3% 583 0.4% 867 0.5% 100 0.2% 100 0.2% 0 0.0% Meals & Entertainment 100 0.1% 450 0.3% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Miscellaneous 0 0.0% 0 0.0% 0 0.0% 69 0.2% 160 0.4% 74 0.2% Office Expense 454 0.3% 1,165 0.7% 1,154 0.7% 46 0.1% 320 0.7% 0 0.0% Operating Supplies 1,385 0.8% 1,680 1.0% 640 0.4% 275 0.7% 250 0.6% 217 0.5% Paper Products/Water 1,182 0.7% 875 0.5% 774 0.5% 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% 207 0.5% 320 0.7% 218 0.5% Practice Range 563 0.3% 435 0.3% 218 0.1% 0 0.0% 0 0.0% 176 0.4% Printing 0 0.0% 0 0.0% 243 0.2% 285 0.7% 200 0.5% 50 0.1% Promotions 1,152 0.7% 1,000 0.6% 50 0.0% 0 0.0% 0 0.0% 0 0.0% Scorecard & Pencils 1,345 0.8% 1,850 1.2% 1,280 0.8% 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% 345 0.8% 245 0.6% 234 0.5% Telephone 1,684 1.0% 1,225 0.8% 1,297 0.8% 0 0.0% 0 0.0% 0 0.0% Travel 54 0.0% 950 0.6% 642 0.4% 29 0.1% 0 0.0% 15 0.0% Uniforms 1,197 0.7% 1,250 0.8% 176 0.1% 7,323 17.6% 6,742 15.7% 5,486 12.1% TOTAL OTHER EXPENSES 36,210 22.0% 35,070 21.9% 31,047 19.3% 2,419 5.8% 944 2.2% 2,762 6.1% DEPARTMENTAL PROFIT/(LOSS) (20,165) -12.2% (40,520) -25.3% (25,539) -15.9% 13

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 321 1.3% 300 1.4% 226 0.9% Tennis Guest Fees 2,051 1.6% 2,800 2.4% 2,738 2.2% 7,448 29.7% 7,000 32.5% 6,421 25.6% Tennis Merchandise 36,093 28.8% 40,000 35.0% 38,778 30.6% 344 1.4% - 0.0% - 0.0% Tennis Miscellaneous 394 0.3% - 0.0% 1,045 0.8% 2,900 11.5% 2,808 13.1% 2,808 11.2% Dues - Single 14,316 11.4% 14,042 12.3% 14,240 11.2% 1,090 4.3% 1,110 5.2% 1,120 4.5% Dues - Family 5,490 4.4% 5,550 4.9% 5,732 4.5% 550 2.2% 500 2.3% 1,495 6.0% Tennis Member Events 848 0.7% 1,000 0.9% 1,685 1.3% - 0.0% - 0.0% - 0.0% Tennis Open Events 600 0.5% 2,600 2.3% 2,500 2.0% 102 0.4% 300 1.4% 227 0.9% Tennis Ball Machine 838 0.7% 1,600 1.4% 1,172 0.9% 1,069 4.3% - 0.0% 272 1.1% Tennis Camp 14,445 11.5% 6,000 5.2% 11,446 9.0% 10,766 42.9% 9,000 41.8% 12,158 48.5% Tennis Lessons 48,267 38.5% 38,500 33.7% 45,912 36.2% 528 2.1% 500 2.3% 346 1.4% Tennis Stringing 2,026 1.6% 2,200 1.9% 1,429 1.1% - 0.0% - 0.0% - 0.0% Florida Open - 0.0% - 0.0% - 0.0% 25,117 100.0% 21,518 100.0% 25,074 100.0% TOTAL TENNIS REVENUE 125,368 100.0% 114,292 100.0% 126,678 100.0% COST OF SALES 4,507 60.5% 5,320 76.0% 3,749 58.4% Cost of Sales - Tennis Merchandise 25,812 71.5% 30,400 76.0% 30,703 79.2% 124 1.7% 154 2.2% 153 2.4% Cost of Sales - Freight 541 1.5% 880 2.2% 1,059 2.7% 5-0.1% (140) 2.0% 53-0.8% Cost of Sales - Discounts 129-0.4% (800) 2.0% 151-0.4% 4,626 62.1% 5,614 80.2% 3,850 60.0% TOTAL COST OF SALES 26,224 72.7% 32,080 80.2% 31,611 81.5% WAGES & BENEFITS 14,506 57.8% 16,243 75.5% 13,848 55.2% Salaries & Wages 76,824 61.3% 82,127 71.9% 71,163 56.2% 6,612 26.3% 9,580 44.5% 7,494 29.9% Commissions/Lessons 43,231 34.5% 38,984 34.1% 35,623 28.1% - 0.0% - 0.0% - 0.0% Tennis Camp Wages - 0.0% - 0.0% - 0.0% 3,181 12.7% 2,599 12.1% 3,029 12.1% Payroll Burden 17,118 13.7% 13,140 11.5% 15,201 12.0% - 0.0% - 0.0% - 0.0% Employee Meals - 0.0% - 0.0% 24 0.0% 812 3.2% 1,107 5.1% 1,035 4.1% Group Insurance 4,508 3.6% 5,537 4.8% 5,377 4.2% - 0.0% - 0.0% - 0.0% Bonus - 0.0% - 0.0% - 0.0% - 0.0% 875 4.1% 457 1.8% Vacation/Holiday 2,710 2.2% 4,375 3.8% 2,664 2.1% - 0.0% - 0.0% - 0.0% 401(k) Program - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% 56 0.2% Miscellaneous 125 0.1% - 0.0% 279 0.2% 25,111 100.0% 30,404 141.3% 25,917 103.4% TOTAL WAGES & BENEFITS 144,517 115.3% 144,164 126.1% 130,332 102.9% OTHER EXPENSES - 0.0% - 0.0% - 0.0% Advertising - Help Wanted 25 0.0% - 0.0% 25 0.0% 30 0.1% 35 0.2% 30 0.1% Cable TV 150 0.1% 172 0.2% 150 0.1% - 0.0% - 0.0% - 0.0% Cash ( Over ) / Short - 0.0% - 0.0% - 0.0% 934 3.7% - 0.0% 788 3.1% Clay Tennis 1,411 1.1% 1,500 1.3% 1,829 1.4% - 0.0% 50 0.2% - 0.0% Cleaning Supplies - 0.0% 150 0.1% - 0.0% 3,195 12.7% - 0.0% 2,475 9.9% Contract Labor 10,173 8.1% - 0.0% 8,044 6.4% 163 0.7% 242 1.1% 242 1.0% Credit Card Discount Fees 1,084 0.9% 1,128 1.0% 1,127 0.9% - 0.0% 50 0.2% - 0.0% Decorations - 0.0% 200 0.2% 102 0.1% 315 1.3% - 0.0% - 0.0% Dues & Subscriptions 610 0.5% 518 0.5% 650 0.5% - 0.0% - 0.0% - 0.0% Florida Open Expense - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% Grounds & Courts 702 0.6% 1,760 1.5% 297 0.2% 326 1.3% 315 1.5% 188 0.8% Leased Equipment 1,630 1.3% 1,575 1.4% 1,489 1.2% 254 1.0% 243 1.1% 187 0.7% Maintenance Contracts 1,608 1.3% 1,215 1.1% 935 0.7% 1,587 6.3% 400 1.9% 830 3.3% Maintenance & Repairs 2,615 2.1% 4,728 4.1% 2,876 2.3% - 0.0% - 0.0% - 0.0% Marketing & Advertising - 0.0% 1,000 0.9% - 0.0% - 0.0% 50 0.2% - 0.0% Meals & Entertainment - 0.0% 250 0.2% 6 0.0% - 0.0% 500 2.3% - 0.0% Tennis Member Events 79 0.1% 2,000 1.7% - 0.0% 79 0.3% - 0.0% 917 3.7% Tennis Open Events 953 0.8% 600 0.5% 4,704 3.7% - 0.0% - 0.0% 39 0.2% Miscellaneous 7 0.0% - 0.0% 1,855 1.5% 69 0.3% 150 0.7% 116 0.5% Office Expense 652 0.5% 600 0.5% 827 0.7% 1,809 7.2% 950 4.4% 711 2.8% Operating Supplies 4,865 3.9% 4,894 4.3% 2,283 1.8% - 0.0% 50 0.2% 17 0.1% Postage - 0.0% 200 0.2% 31 0.0% - 0.0% - 0.0% - 0.0% Printing - 0.0% 100 0.1% - 0.0% 105 0.4% 30 0.1% 755 3.0% Promotions 415 0.3% 150 0.1% 1,977 1.6% - 0.0% - 0.0% - 0.0% Small Tools 1,123 0.9% 1,076 0.9% 1,282 1.0% 490 2.0% - 0.0% 430 1.7% Stringing Fees 1,640 1.3% - 0.0% 1,590 1.3% 441 1.8% 430 2.0% 339 1.4% Telephone 2,070 1.7% 2,150 1.9% 2,143 1.7% - 0.0% - 0.0% - 0.0% Tennis Camp 4,625 3.7% 6,000 5.2% 10,220 8.1% 28 0.1% - 0.0% - 0.0% Travel 28 0.0% - 0.0% (75) -0.1% 52 0.2% - 0.0% 15 0.1% Uniforms 210 0.2% 700 0.6% 467 0.4% 9,875 39.3% 3,495 16.2% 8,078 32.2% TOTAL OTHER EXPENSES 36,674 29.3% 32,666 28.6% 45,050 35.6% (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

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 17,394 8.9% 20,000 11.6% 31,406 18.0% Marina Merchandise/Services 128,917 15.0% 92,000 12.1% 115,494 14.6% 110,420 56.3% 79,800 46.4% 64,215 36.7% Marina Gas Sales 382,442 44.5% 332,850 44.0% 299,674 37.8% 12,491 6.4% 6,000 3.5% 5,669 3.2% Marina Diesel Sales 37,048 4.3% 26,400 3.5% 25,062 3.2% 2,180 1.1% 1,800 1.0% 3,300 1.9% Marina Boat Servicing ( In House ) 9,757 1.1% 9,000 1.2% 6,869 0.9% 43,340 22.1% 55,000 32.0% 62,594 35.8% Marina Boat Servicing ( Subcontractor ) 256,376 29.9% 255,000 33.7% 307,795 38.8% 413 0.2% 0 0.0% 63 0.0% Marina Dock Hook Up 692 0.1% 0 0.0% 438 0.1% 0 0.0% 150 0.1% 0 0.0% Marina Dock On Rental 0 0.0% 600 0.1% 0 0.0% 2,838 1.4% 2,838 1.7% 2,750 1.6% Marina Electric Cord Charge 14,190 1.7% 14,190 1.9% 13,478 1.7% 2,730 1.4% 3,000 1.7% 1,145 0.7% Marina Boat Rental 8,160 1.0% 10,000 1.3% 4,925 0.6% 3,420 1.7% 2,800 1.6% 3,170 1.8% Marina Boat Storage 16,370 1.9% 14,000 1.8% 16,421 2.1% 825 0.4% 500 0.3% 440 0.3% Marina Ramp Fees 4,055 0.5% 3,200 0.4% 2,870 0.4% 21 0.0% 0 0.0% 3 0.0% Marina Miscellaneous Income 464 0.1% 0 0.0% 206 0.0% 196,072 100.0% 171,888 100.0% 174,755 100.0% TOTAL MARINA REVENUE 858,470 100.0% 757,240 100.0% 793,232 100.0% COST OF SALES 8,210 47.2% 14,000 70.0% 22,984 73.2% Merchandise/Service 93,440 72.5% 64,400 70.0% 83,071 71.9% 91,848 83.2% 68,628 86.0% 48,019 74.8% Gasoline 317,125 82.9% 286,251 86.0% 234,489 78.2% 9,462 75.8% 4,560 76.0% 3,569 63.0% Diesel 27,653 74.6% 20,064 76.0% 16,744 66.8% 565 4.5% 274 4.6% 225 4.0% Fuel Use Tax Diesel 1,547 4.2% 1,204 4.6% 945 3.8% 37,315 82.0% 46,200 81.3% 52,748 80.0% Subcontractor Work 218,351 82.0% 214,200 81.1% 264,425 84.0% 0 0.0% 0 0.0% 0 0.0% Rental Boat Expense 0 0.0% 0 0.0% 0 0.0% 147,401 78.2% 133,662 80.7% 127,545 75.8% TOTAL COST OF SALES 658,116 80.0% 586,119 80.8% 599,673 78.9% WAGES & BENEFITS 11,490 5.9% 11,680 6.8% 11,415 6.5% Salaries & Wages 61,611 7.2% 62,225 8.2% 57,723 7.3% 5,962 3.0% 4,739 2.8% 6,030 3.5% Commissions 25,724 3.0% 21,468 2.8% 25,125 3.2% 2,973 1.5% 2,393 1.4% 2,833 1.6% Payroll Burden 13,843 1.6% 14,105 1.9% 13,497 1.7% 0 0.0% 25 0.0% 0 0.0% Employee Meals 0 0.0% 125 0.0% 0 0.0% 971 0.5% 992 0.6% 1,072 0.6% Group Insurance 4,857 0.6% 4,959 0.7% 4,670 0.6% 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% 116 0.1% 550 0.3% 574 0.3% Vacation/Holiday 3,652 0.4% 3,725 0.5% 4,394 0.6% 0 0.0% 10 0.0% 0 0.0% 401(k) Program 0 0.0% 50 0.0% 0 0.0% 0 0.0% 25 0.0% 0 0.0% Miscellaneous 0 0.0% 125 0.0% 87 0.0% 21,513 11.0% 20,414 11.9% 21,924 12.5% TOTAL WAGES & BENEFITS 109,686 12.8% 106,782 14.1% 105,497 13.3% OTHER EXPENSES 97 0.0% 97 0.1% 97 0.1% Cable TV 440 0.1% 485 0.1% 485 0.1% 0 0.0% 0 0.0% 0 0.0% Cash (over) / Short 0 0.0% 0 0.0% 0 0.0% 41 0.0% 25 0.0% 155 0.1% Cleaning Supplies 292 0.0% 125 0.0% 912 0.1% 3,111 1.6% 2,000 1.2% 1,528 0.9% Credit Card Discount Fees 12,319 1.4% 10,000 1.3% 8,906 1.1% 0 0.0% 0 0.0% 0 0.0% Decoration 0 0.0% 250 0.0% 0 0.0% 0 0.0% 840 0.5% 400 0.2% Dues & Subscriptions 159 0.0% 840 0.1% 400 0.1% 1,609 0.8% 2,290 1.3% 1,341 0.8% Electric - Boat Docks 8,652 1.0% 13,162 1.7% 10,515 1.3% 35 0.0% 125 0.1% 0 0.0% Gasoline & Oil 206 0.0% 625 0.1% 73 0.0% 0 0.0% 100 0.1% 0 0.0% Grounds, Parking & Docks 0 0.0% 500 0.1% 0 0.0% 349 0.2% 342 0.2% 144 0.1% Leased Equipment 1,745 0.2% 1,710 0.2% 2,028 0.3% 0 0.0% 0 0.0% 0 0.0% Licenses & Fees 0 0.0% 0 0.0% 0 0.0% 570 0.3% 138 0.1% 135 0.1% Maintenance Contracts 1,174 0.1% 703 0.1% 696 0.1% 183 0.1% 350 0.2% 0 0.0% Maintenance & Repairs 1,870 0.2% 2,150 0.3% 2,227 0.3% 72 0.0% 10 0.0% 24 0.0% Meals & Entertainment 310 0.0% 50 0.0% 276 0.0% 0 0.0% 0 0.0% 35 0.0% Miscellaneous 0 0.0% 0 0.0% 35 0.0% 0 0.0% 75 0.0% 0 0.0% Office Expense 0 0.0% 375 0.0% 67 0.0% 61 0.0% 545 0.3% 103 0.1% Operating Supplies 1,459 0.2% 2,725 0.4% 1,719 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% 25 0.0% 29 0.0% 0 0.0% 0 0.0% 0 0.0% Printing 0 0.0% 0 0.0% 0 0.0% 0 0.0% 200 0.1% 0 0.0% Promotions 0 0.0% 640 0.1% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Security Systems 0 0.0% 0 0.0% 0 0.0% 208 0.1% 100 0.1% 90 0.1% Small Tools 769 0.1% 500 0.1% 158 0.0% 419 0.2% 325 0.2% 316 0.2% Telephone 2,081 0.2% 1,625 0.2% 1,649 0.2% 728 0.4% 0 0.0% 49 0.0% Uniforms 1,194 0.1% 200 0.0% 610 0.1% 699 0.4% 640 0.4% 610 0.3% Utilities - Electric 3,571 0.4% 4,083 0.5% 3,881 0.5% 209 0.1% 225 0.1% 199 0.1% Utilities - Trash Removal 1,045 0.1% 1,125 0.1% 993 0.1% 8,390 4.3% 8,432 4.9% 5,225 3.0% TOTAL OTHER EXPENSES 37,288 4.3% 41,897 5.5% 35,658 4.5% 18,768 9.6% 9,380 5.5% 20,061 11.5% DEPARTMENTAL PROFIT/(LOSS) 53,381 6.2% 22,442 3.0% 52,403 6.6% 15

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 66,303 7.2% 66,282 7.4% 66,958 7.5% Dues - Debt Financing 332,981 0.0% 331,411 0.0% 332,740 0.0% 1,030 0.1% 858 0.1% 950 0.1% Dues - Pool Membership 4,806 0.0% 4,292 0.0% 4,938 0.0% 280 0.0% 1,667 0.2% 1,110 0.1% Finance Charges 3,982 0.0% 8,333 0.0% 7,149 0.0% 0 0.0% 0 0.0% 0 0.0% Interest Income 0 0.0% 0 0.0% 0 0.0% 2,725 0.3% 2,725 0.3% 2,775 0.3% Realty Office Rent 13,625 0.0% 13,625 0.0% 13,875 0.0% 11,000 1.2% 8,250 0.9% 8,250 0.9% Lease Processing Fee 39,250 0.0% 38,500 0.0% 38,500 0.0% (22) 0.0% 25 0.0% 11 0.0% Miscellaneous Income - Transmitters 262 0.0% 125 0.0% 388 0.0% 595 0.1% 417 0.0% 678 0.1% Miscellaneous Income 2,561 0.0% 2,083 0.0% 2,108 0.0% 335,838 36.4% 335,742 37.6% 325,929 36.4% Dues - Operating 1,690,157 0.0% 1,678,710 0.0% 1,640,900 0.0% 0 0.0% 0 0.0% 0 0.0% Owner Fees - Discounts (120) 0.0% 0 0.0% (100) 0.0% 250 0.0% 833 0.1% 450 0.1% Owner Transfers Fees 3,050 0.1% 4,167 0.0% 6,800 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 0 0.1% 0 0.0% 0 0.1% 417,999 45.3% 416,799 46.7% 407,110 45.5% TOTAL MISCELLANEOUS REVENUE 2,090,554 37.9% 2,081,246 39.4% 2,047,299 32.5% 16

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 31,192 3.4% 30,360 3.4% 31,431 3.5% Salaries & Wages 166,084 4.0% 160,559 4.0% 159,336 4.0% 4,220 0.5% 4,159 0.5% 4,308 0.5% Payroll Burden 21,250 0.5% 21,997 0.5% 24,214 0.6% 1,770 0.2% 2,226 0.2% 2,233 0.2% Group Insurance 8,814 0.2% 11,128 0.3% 11,127 0.3% 3,250 0.4% 3,250 0.4% 960 0.1% Bonus 16,986 0.4% 16,250 0.4% 31,535 0.8% 0 0.0% 1,000 0.1% 1,325 0.1% Vacation/Holiday 6,331 0.2% 8,700 0.2% 8,464 0.2% 0 0.0% 300 0.0% 180 0.0% Miscellaneous 342 0.0% 800 0.0% 992 0.0% 40,431 4.4% 41,295 4.6% 40,437 4.5% TOTAL WAGES & BENEFITS 219,807 5.3% 219,434 5.4% 235,914 5.9% OTHER EXPENSES 645 0.1% 0 0.0% 0 0.0% Audit/Tax Prep 24,845 0.6% 24,200 0.6% 30,000 0.7% 0 0.0% 0 0.0% 0 0.0% Advertising - Help Wanted 0 0.0% 0 0.0% 25 0.0% 6,175 0.7% 6,175 0.7% 6,500 0.7% Accounting Fees 30,875 0.7% 30,875 0.8% 32,500 0.8% 1,500 0.2% 1,500 0.2% 1,500 0.2% Bad Debt 7,500 0.2% 7,500 0.2% 7,500 0.2% 964 0.1% 665 0.1% 793 0.1% Bank Fees 3,897 0.1% 6,725 0.2% 3,663 0.1% 242 0.0% 260 0.0% 252 0.0% Cable TV 1,227 0.0% 1,300 0.0% 1,253 0.0% (0) 0.0% 0 0.0% 0 0.0% Cash (Over) / Short 1 0.0% 0 0.0% 1 0.0% 485 0.1% 583 0.1% 583 0.1% Credit Card Discount Fees 2,738 0.1% 3,015 0.1% 3,015 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% 319 0.0% 425 0.0% 123 0.0% Dues & Subscriptions 1,151 0.0% 1,275 0.0% 719 0.0% 561 0.1% 1,441 0.2% 1,453 0.2% Leased Equipment 5,133 0.1% 7,205 0.2% 7,265 0.2% 0 0.0% 1,917 0.2% 1,659 0.2% Legal Fees 9,756 0.2% 9,583 0.2% 6,164 0.2% 228 0.0% 530 0.1% 711 0.1% Licence & Fees 1,349 0.0% 2,400 0.1% 2,513 0.1% 2,110 0.2% 1,535 0.2% 1,560 0.2% Maintenance Contracts 9,332 0.2% 7,675 0.2% 8,229 0.2% 1,101 0.1% 650 0.1% 690 0.1% Maintenance & Repairs 7,128 0.2% 3,250 0.1% 2,138 0.1% 960 0.1% 600 0.1% 9 0.0% Meals & Entertainment 9,971 0.2% 7,000 0.2% 7,633 0.2% 0 0.0% 0 0.0% 0 0.0% Member Relations 712 0.0% 0 0.0% 106 0.0% 1,101 0.1% 100 0.0% 205 0.0% Miscellaneous 1,157 0.0% 500 0.0% 1,856 0.0% 2,322 0.3% 2,199 0.2% 3,032 0.3% Office Expense 11,974 0.3% 10,646 0.3% 11,520 0.3% 0 0.0% 125 0.0% 7 0.0% Operating Supplies 194 0.0% 625 0.0% 128 0.0% 0 0.0% 0 0.0% 0 0.0% Pest Control 0 0.0% 0 0.0% 0 0.0% 217 0.0% 1,155 0.1% 1,725 0.2% Postage 5,579 0.1% 5,775 0.1% 6,903 0.2% 218 0.0% 245 0.0% 1,460 0.2% Printing 2,136 0.1% 3,275 0.1% 3,446 0.1% 38 0.0% 250 0.0% 223 0.0% Promotions 144 0.0% 1,350 0.0% 811 0.0% 613 0.1% 450 0.1% 677 0.1% Storage 4,772 0.1% 2,250 0.1% 3,387 0.1% 1,406 0.2% 920 0.1% 1,054 0.1% Telephone 5,339 0.1% 4,600 0.1% 4,796 0.1% 0 0.0% 0 0.0% 0 0.0% Training 0 0.0% 0 0.0% 0 0.0% 33 0.0% 150 0.0% 288 0.0% Travel Expense 434 0.0% 750 0.0% 625 0.0% 0 0.0% 25 0.0% 15 0.0% Uniforms 15 0.0% 125 0.0% 30 0.0% 21,238 2.3% 21,900 2.5% 24,607 2.7% TOTAL OTHER EXPENSES 148,498 3.6% 143,799 3.5% 146,814 3.7% 61,670 6.7% 63,195 7.1% 65,044 7.3% DEPARTMENTAL EXPENSE 368,305 8.9% 363,233 8.9% 382,728 9.5% 17