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

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

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

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

JANUARY 2017 Accounts Receivable: Delinquent Dues and House Receivables: The club currently does not have any litigation actions. The current balance of delinquent membership accounts is $.00. There are no delinquent members at this time. No new accounts were added. One account was adjusted to Bad Debts in the amount of $54,319.76, however, we recovered $43,529.76 in February when the member came in and settled the balance. Three additional accounts were removed by collecting $18,762.89. Capital Contributions: During the month of January 2017, the Club received $25,000.00 in capital contribution funds. This contribution amount was made up of 7 sales and 2 refunds. The Year to Date capital fund contribution amount is $124,000.00. The Year to Date Contribution amount is made up of 30 Sales and 5 refunds. Cash Balances: For the Month, ending January 2017 the Club had a Capital Reserve Fund cash balance of $724,214 and an Operating cash balance of $451,543. Food & Beverage Department: MTD Actual Budget Var. Last Year Var Total Revenue $200,088 $217,378 ($17,290) $200,535 ($447) MTD Actual Budget Var. Last Year Var Profit/(Loss) ($20,943) ($22,742) $1,799 ($28,912) $7,969 YTD Actual Budget Var. Last Year Var Profit/(Loss) ($117,405) ($164,879) $47,474 ($170,032) $52,627 Items of Note: Food Cost was under budget by 4.5% for the month which continues our trend of waste reduction and many products being made in-house versus procuring from a vendor. China Glass and Silver was under budget by $2,175 as the purchases of additional china and glassware was not needed this month but will be used as the need arises. Maintenance Contracts was under budget by $2,591 as the carpet cleaning was scheduled for February instead of January. 3

Music and Entertainment was under budget by $917 as we were able to secure better deals on entertainment then originally budgeted. Operating Supplies was under budget by $718, as the monies were not utilized this month; however, they will be utilized as the need arises. Golf Department: MTD Actual Budget Var. Last Year Var. Golf Rounds 3,588 3,547 41 3,106 482 Total Rev/Round 12.39 11.70.69 11.56.83 Total Revenue 44,445 41,484 2,961 35,896 8,549 NOI 3,072 (2,511) 5,583 (2,119) 5,191 Items of Note: Overall Expenses for the month came in under budget by $174. This includes all wages and other expenses categories. Cost of Sales 60%, which is under the projected COS budget of 73%, by 13%. Total Golf Revenue was over budget by $2,961. Cart revenue was up by $1,222, total rounds played were up by 41, although we lost 206 rounds played in January due to weather. Departmental Profit/Loss The Golf Dept. ended the month with a positive variance of 3,072, compared to a budgeted loss of ($2,511), for a positive variance of $5,583. Tennis Department: MTD Actual Budget Var. Last Year Var. Total Revenue $29,410 $21,218 $8,192 $22,378 $7.032 NOI ($13,686) ($20,231) $6,545 ($18,124) $4,438 Items of Note: Merchandise slightly over budget for the month. Tennis Lessons the junior program is regaining strength and lessons picking up Contract Labor this position for this budget was originally budgeted under Salaries & Wages and the pro was to be made a Landings Employee. When season started we changed what we were going to do and made the new pro an independent contractor. 4

Maintenance & Repairs We outsourced the cleaning of the awnings, will be done in house in February. Marketing We did not advertise the Summer Camp as we have done in the past. Member Events Canceled the event scheduled for January. Operating Supplies Over budget due to a change in tennis balls for the teaching baskets. Marina Department: MTD Actual Budget Var. Last Year Var. Total Revenue $180,910 $136,038 $44,872 $136,641 ($44,269) NOI $10,252 $1,725 $8,527 $7,968 $2,284 Items of Note: Fuel Sales gallon sales continue to be strong and gallons are exceeding budget Year to date operating profit exceeds budget by $21,254. Sub-Contractor Work remains strong and is ahead of budget by $13,036 Total revenue is ahead of budget by $77,047 Administrative & General Department: MTD Actual Budget Var. Last Year Var Dept. Expense $79,226 $78,806 ($420) $73,930 ($5,296) Items of Note: Bank Fees - was under budget $2,978, which represents a timing difference for renewal of the bank Line of Credit. Meals and Entertainment - was over budget $3,900 which represents the holiday parties held in December but not billed for until January. Printing - was under budget $1,848 simply due to the timing of needed purchases. 5

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

THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. BALANCE SHEET January 31, 2017 Same Month Current Month Previous Month Last Year ASSETS Cash CASH - OPERATING 451,543 422,653 237,684 CASH - CAPITAL RESERVE FUNDS 455,714 533,888 590,825 CASH - UTILITY INFRASTRUCTURE SET-ASIDE 268,500 268,500 243,500 Total Cash 1,175,758 1,225,040 1,072,009 Account Receivable ACCOUNTS RECEIVABLE - MEMBER ACCOUNTS 800,715 772,998 864,939 ALLOWANCE FOR DOUBTFUL ACCOUNTS 33,440 (19,380) (5,943) Total Accounts Receivable 834,155 753,618 858,996 Inventory INVENTORY - FOOD 33,626 33,349 39,290 INVENTORY - BEVERAGE 42,242 43,313 38,142 INVENTORY - GATE TRANSMITTER 986 1,265 2,101 INVENTORY - TENNIS PRO SHOP 35,341 38,410 75,927 INVENTORY - GOLF PRO SHOP 43,174 42,859 53,143 INVENTORY - MARINA SHOP 73,447 71,069 74,055 INVENTORY - MARINA FUEL 14,703 19,068 5,962 Total Inventory 243,520 249,333 288,620 Prepaid Expenses PREPAID INSURANCE 223,216 248,189 284,953 PREPAID OTHER 60,396 78,662 56,697 Total Prepaid Expenses 283,612 326,852 341,650 Fixed Assets PROPERTY & IMPROVEMENTS 7,429,977 7,429,977 7,429,977 BUILDING & IMPROVEMENTS 11,366,717 11,366,717 11,366,717 SITE IMPROVEMENTS 3,326,887 3,326,887 3,326,887 BUILDING - AMENITY PURCHASE 1,990,001 1,990,001 1,990,001 LAND - AMENTIY PURCHASE 3,910,000 3,910,000 3,910,000 LAND PURCHASE - DRIVING RANGE 1,008,633 1,008,633 1,008,633 CIP - CURRENT YEAR 1,385,391 1,222,729 404,658 CAPITALIZED LOAN FEES 136,739 141,014 100,927 WIP CLUBHOUSE INFRASTRUCTURE 0 0 0 LESS ACCUMULATED DEPRECIATION (11,828,296) (11,729,361) (10,641,084) Total Net Fixed Assets 18,726,049 18,666,596 18,896,717 Other Assets DEPOSITS - BEVERAGE ESCROW 3,500 3,500 3,500 DEPOSITS 1,401 1,401 1,401 Total Other Assets 4,901 4,901 4,901 Total Assets 21,267,995 21,226,340 21,462,893 7

THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. BALANCE SHEET January 31, 2017 Same Month Current Year Previous Month Last Year LIABILITIES AND EQUITY Accounts Payable ACCOUNTS PAYABLE - TRADE 134,554 161,299 131,431 ACCOUNTS PAYABLE - INSURANCE 151,731 176,303 186,235 ACCOUNTS PAYABLE - SALES TAX 20,972 16,865 (7,617) ACCOUNTS PAYABLE - GRATUITIES 7,069 4,352 3,598 LOAN PAYABLE - BANK OF AMERICA CURRENT 607,581 590,093 552,764 Total Accounts Payable 921,907 948,910 866,411 Accrued Liabilities ACCRUED OTHER 14,120 7,270 12,660 ACCRUED UTILITIES 3,485 2,624 18,452 ACCRUED PAYROLL 209,294 165,445 166,812 ACCRUED BONUS (21,064) (24,314) 6,589 ACCRUED VACATION 47,337 40,454 25,044 ACCRUED AUDIT FEE 4,085 (1,915) 9,885 DEPOSITS/SWEEPS/GIFT CERTIFICATES 42,976 31,590 44,576 DEFERRED REVENUE 534,197 518,420 520,546 Total Accrued Liabilities 834,431 739,573 804,563 Long Term Liabilities LOAN PAYABLE - BANK OF AMERICA LONG TERM 2,570,092 2,638,817 3,177,413 Total Long Term Liabilities 2,570,092 2,638,817 3,177,413 Funds REPLACEMENT FUNDS - CONTRIBUTIONS 6,726,176 6,671,140 6,122,003 REPLACEMENT FUNDS - EXPENDITURES (9,423,191) (9,260,529) (8,442,458) CAPITAL FUND - CONTRIBUTIONS 3,160,623 3,135,623 2,815,623 HELM CLUB CAPITAL CONTRIBUTIONS 1,274,494 1,274,494 1,274,494 Total Funds 1,738,103 1,820,728 1,769,663 Total Liabilities 6,064,532 6,148,028 6,618,051 Member's Equity CAPITAL FUND EXPENDITURES 500,926 338,264 392,553 PRIOR YEAR MEMBER'S EQUITY 14,934,521 14,934,521 14,761,954 CURRENT YEAR INCOME/(LOSS) (231,984) (194,474) (309,665) Total Member's Equity 15,203,463 15,078,312 14,844,842 Total Liabilities & Member's Equity 21,267,995 21,226,340 21,462,893 8

THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. SUMMARY PROFIT & LOSS January 31, 2017 M-T-D M-T-D M-T-D Y-T-D Y-T-D Y-T-D ACTUAL BUDGET LAST YEAR ACTUAL BUDGET LAST YEAR 882,865 100.0% 840,917 100.0% 814,667 100.0% TOTAL REVENUE 3,219,346 100.0% 3,170,414 100.0% 3,121,393 100.0% FOOD & BEVERAGE 200,088 100.0% 217,378 100.0% 200,535 100.0% Total F&B Revenue 670,849 100.0% 710,825 100.0% 645,482 100.0% 125,784 62.9% 126,496 58.2% 131,494 65.6% Wages & Benefits 456,900 68.1% 484,874 68.2% 468,558 72.6% 49,506 36.6% 60,210 41.1% 52,515 38.4% Food Cost Of Sales 159,696 35.6% 197,977 41.2% 175,957 40.4% 19,435 31.7% 19,916 32.0% 17,077 29.1% Beverage Cost Of Sales 61,893 30.9% 65,476 32.0% 61,736 32.4% 26,307 13.1% 33,497 15.4% 28,912 14.4% Other Expenses 109,765 16.4% 127,377 17.9% 109,262 16.9% (20,943) -10.5% (22,742) -10.5% (29,462) -14.7% FOOD & BEVERAGE PROFIT/(LOSS) (117,405) -17.5% (164,879) -23.2% (170,032) -26.3% GOLF OPERATIONS PROFIT/(LOSS) 44,445 100.0% 41,484 100.0% 35,896 100.0% Total Pro Shop Revenue 123,243 100.0% 117,018 100.0% 115,641 100.0% 28,807 64.8% 28,910 69.7% 26,805 74.7% Wages & Benefits 97,401 79.0% 103,574 88.5% 89,582 77.5% 4,850 59.7% 7,300 73.0% 4,885 59.4% Cost Of Sales 20,069 64.2% 26,580 73.0% 28,799 81.7% 7,715 17.4% 7,786 18.8% 6,324 17.6% Other Expenses 28,887 23.4% 28,328 24.2% 25,561 22.1% 3,072 6.9% (2,511) -6.1% (2,119) -5.9% GOLF OPERATIONS PROFIT/(LOSS) (23,114) -18.8% (41,464) -35.4% (28,301) -24.5% TENNIS OPERATIONS PROFIT/(LOSS) 29,410 100.0% 21,218 100.0% 22,378 100.0% Total Pro Shop Revenue 100,251 100.0% 92,773 100.0% 101,604 100.0% 31,729 107.9% 29,150 137.4% 27,988 125.1% Wages & Benefits 119,568 119.3% 113,760 122.6% 104,415 102.8% 5,066 74.7% 4,812 80.2% 3,501 66.3% Cost Of Sales 21,597 75.4% 26,466 80.2% 27,762 85.8% 6,302 21.4% 7,488 35.3% 9,013 40.3% Other Expenses 26,799 26.7% 29,171 31.4% 36,972 36.4% (13,686) -46.5% (20,231) -95.3% (18,124) -81.0% TENNIS OPERATIONS PROFIT/(LOSS) (67,714) -67.5% (76,624) -82.6% (67,544) -66.5% MARINA OPERATIONS PROFIT/(LOSS) 180,910 100.0% 136,038 100.0% 136,641 100.0% Total Marina Revenue 662,399 100.0% 585,352 100.0% 618,477 100.0% 23,598 13.0% 21,378 15.7% 21,523 15.8% Wages & Benefits 88,470 13.4% 86,368 14.8% 83,573 13.5% 139,977 81.8% 104,723 81.9% 100,999 79.0% Cost Of Sales 510,715 81.2% 452,457 81.9% 472,128 80.3% 7,083 3.9% 8,212 6.0% 6,151 4.5% Other Expenses 28,897 4.4% 33,465 5.7% 30,433 4.9% 10,252 5.7% 1,725 1.3% 7,968 5.8% MARINA OPERATIONS PROFIT/(LOSS) 34,316 5.2% 13,062 2.2% 32,343 5.2% 428,011 48.5% 424,799 50.5% 419,217 51.5% TOTAL MISCELLANEOUS INCOME 1,662,605 51.6% 1,664,447 52.5% 1,640,188 52.5% OVERHEAD DEPARTMENTS 79,226 9.0% 78,806 9.4% 73,930 9.1% Administrative & General 306,939 9.5% 300,038 9.5% 317,683 10.2% 29,487 3.3% 29,697 3.5% 29,010 3.6% Community Patrol 113,807 3.5% 118,794 3.7% 113,324 3.6% 82,462 9.3% 75,188 8.9% 72,628 8.9% Golf Course Maintenance 312,308 9.7% 306,107 9.7% 290,266 9.3% 52,941 6.0% 49,296 5.9% 53,526 6.6% Property Maintenance 234,632 7.3% 225,198 7.1% 213,376 6.8% 36,229 4.1% 31,456 3.7% 28,450 3.5% Utilities 122,793 3.8% 117,258 3.7% 108,776 3.5% 280,345 31.8% 264,443 31.4% 257,544 31.6% TOTAL OVERHEAD DEPARTMENT EXPENSE 1,090,479 33.9% 1,067,395 33.7% 1,043,426 33.4% 126,362 14.3% 116,597 13.9% 119,935 14.7% GROSS OPERATING PROFIT/(LOSS) 398,209 12.4% 327,148 10.3% 363,228 11.6% 31,335 3.5% 32,991 3.9% 37,760 4.6% Insurance 113,247 3.5% 131,964 4.2% 138,077 4.4% 5,000 0.6% 0 0.0% 0 0.0% Insurance Loss Expense 5,000 0.2% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Taxes Personal Property 0 0.0% 0 0.0% 0 0.0% 6,608 0.7% 4,600 0.5% 4,674 0.6% Taxes Personal Property - Lease 6,359 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 1.0% 8,550 1.0% 9,000 1.1% Management Fees 34,200 1.1% 34,200 1.1% 36,000 1.2% 0 0.0% 0 0.0% 0 0.0% Contingency 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Other Adds & Deducts 0 0.0% 0 0.0% 0 0.0% 74,869 8.5% 70,456 8.4% 68,501 8.4% PROFIT/(LOSS) BEFORE DEP/AMORT/INT 239,404 7.4% 153,490 4.8% 181,546 5.8% 101,292 11.5% 100,280 11.9% 100,281 12.3% Depreciation & Amortization 402,135 12.5% 401,120 12.7% 401,124 12.9% 11,087 1.3% 18,767 2.2% 22,503 2.8% Interest 69,253 2.2% 74,530 2.4% 90,087 2.9% 0 0.0% 0 0.0% 0 0.0% Capital Contribution 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Capital Reserve 0 0.0% 0 0.0% 0 0.0% (37,511) -4.2% (48,591) -5.8% (54,283) -6.7% NET INCOME/(LOSS) (231,984) -7.2% (322,160) -10.2% (309,665) -9.9% 9

THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. COMBINED FOOD & BEVERAGE DEPARTMENTAL PROFIT & LOSS January 31, 2017 M-T-D M-T-D M-T-D Y-T-D Y-T-D Y-T-D ACTUAL BUDGET LAST YEAR ACTUAL BUDGET LAST YEAR REVENUE FOOD REVENUE 100,092 50.0% 110,524 50.8% 100,601 50.2% Dining Room 296,872 44.3% 337,133 47.4% 300,310 46.5% 35,160 17.6% 35,933 16.5% 36,260 18.1% Banquet 152,225 22.7% 143,688 20.2% 135,707 21.0% 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% Prime Dining 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Picnic Point 0 0.0% 0 0.0% 0 0.0% 135,252 67.6% 146,456 67.4% 136,861 68.2% TOTAL FOOD REVENUE 449,097 66.9% 480,820 67.6% 436,017 67.5% BEVERAGE REVENUE 48,949 24.5% 51,459 23.7% 47,670 23.8% Dining Room 150,830 22.5% 161,505 22.7% 146,784 22.7% 12,287 6.1% 10,780 5.0% 11,072 5.5% Banquet 49,536 7.4% 43,106 6.1% 43,520 6.7% 0 0.0% 0 0.0% 0 0.0% Patio 0 0.0% 0 0.0% 0 0.0% 61,236 30.6% 62,239 28.6% 58,742 29.3% TOTAL BEVERAGE REVENUE 200,366 29.9% 204,611 28.8% 190,304 29.5% OTHER REVENUE 3,435 1.7% 3,683 1.7% 3,683 1.8% Helm Club Dues 14,237 2.1% 14,733 2.1% 14,519 2.2% 165 0.1% 5,000 2.3% 1,249 0.6% Miscellaneous 7,149 1.1% 10,660 1.5% 4,642 0.7% 3,600 1.8% 8,683 4.0% 4,932 2.5% TOTAL OTHER REVENUE 21,386 3.2% 25,393 3.6% 19,161 3.0% 200,088 100.0% 217,378 100.0% 200,535 100.0% TOTAL FOOD & BEVERAGE REVENUE 670,849 100.0% 710,825 100.0% 645,482 100.0% COST OF SALES 49,506 36.6% 60,210 41.1% 52,515 38.4% Food Cost of Sales 159,696 35.6% 197,977 41.2% 175,957 40.4% 19,435 31.7% 19,916 32.0% 17,077 29.1% Beverage Cost of Sales 61,893 30.9% 65,476 32.0% 61,736 32.4% 68,940 34.5% 80,126 36.9% 69,591 34.7% TOTAL COST OF SALES 221,589 33.0% 263,453 37.1% 237,693 36.8% WAGES & BENEFITS 47,859 23.9% 47,989 22.1% 46,147 23.0% Salaries & Wages - Dining Room 177,927 26.5% 177,249 24.9% 168,754 26.1% 44,620 22.3% 45,613 21.0% 47,538 23.7% Salaries & Wages - Kitchen 159,324 23.7% 178,585 25.1% 166,896 25.9% 20,974 10.5% 18,354 8.4% 20,534 10.2% Payroll Burden 67,841 10.1% 69,256 9.7% 66,061 10.2% 4,464 2.2% 3,900 1.8% 3,892 1.9% Employee Meals 16,417 2.4% 14,130 2.0% 14,837 2.3% 3,711 1.9% 7,571 3.5% 7,920 3.9% Group Insurance 16,649 2.5% 29,771 4.2% 30,806 4.8% 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% 3,713 1.9% 2,200 1.0% 4,876 2.4% Vacation/Holiday 15,019 2.2% 12,403 1.7% 17,238 2.7% 388 0.2% 525 0.2% 587 0.3% 401(k) Program 1,731 0.3% 2,100 0.3% 2,416 0.4% 55 0.0% 345 0.2% 0 0.0% Miscellaneous 1,992 0.3% 1,380 0.2% 1,550 0.2% 125,784 62.9% 126,496 58.2% 131,494 65.6% TOTAL WAGES & BENEFITS 456,900 68.1% 484,874 68.2% 468,558 72.6% OTHER EXPENSES 25 0.0% 75 0.0% 125 0.1% Advertising - Help Wanted 100 0.0% 250 0.0% 750 0.1% 129 0.1% 0 0.0% 342 0.2% Banquet Supplies 2,497 0.4% 3,900 0.5% 678 0.1% 448 0.2% 563 0.3% 403 0.2% Cable TV 1,959 0.3% 2,252 0.3% 1,609 0.2% 0 0.0% 0 0.0% (12) 0.0% Cash ( Over ) / Short 0 0.0% 0 0.0% (16) 0.0% 325 0.2% 2,500 1.2% 817 0.4% China/Glass/Silverware 5,644 0.8% 9,600 1.4% 5,520 0.9% 1,225 0.6% 1,600 0.7% 1,161 0.6% Cleaning Supplies 4,582 0.7% 5,200 0.7% 4,197 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 0.1% 950 0.1% 900 0.1% 1,878 0.9% 1,812 0.8% 1,852 0.9% Credit Card Discounts Fees 6,369 0.9% 5,863 0.8% 5,089 0.8% 754 0.4% 700 0.3% 691 0.3% Decorations 4,064 0.6% 4,700 0.7% 3,590 0.6% 0 0.0% 0 0.0% 125 0.1% Dues & Subscriptions 2,541 0.4% 2,740 0.4% 125 0.0% 180 0.1% 300 0.1% 0 0.0% Equipment Rental 1,744 0.3% 2,259 0.3% 430 0.1% 0 0.0% 0 0.0% 25 0.0% Gasoline & Oil 56 0.0% 0 0.0% 125 0.0% 0 0.0% 150 0.1% 0 0.0% Kitchen Equipment 504 0.1% 600 0.1% 175 0.0% 2,664 1.3% 2,570 1.2% 3,676 1.8% Laundry & Linen 9,644 1.4% 10,955 1.5% 12,687 2.0% 1,105 0.6% 1,146 0.5% 1,165 0.6% Leased Equipment 4,857 0.7% 4,584 0.6% 4,660 0.7% 113 0.1% 67 0.0% 0 0.0% License & Fees 810 0.1% 898 0.1% 630 0.1% 0 0.0% 0 0.0% 0 0.0% Locker Room Supplies 0 0.0% 0 0.0% 0 0.0% 1,854 0.9% 4,445 2.0% 2,795 1.4% Maintenance Contracts 6,295 0.9% 10,110 1.4% 6,639 1.0% 1,951 1.0% 2,050 0.9% 2,502 1.2% Maintenance & Repairs 5,963 0.9% 7,400 1.0% 7,218 1.1% 125 0.1% 125 0.1% 264 0.1% Marketing & Advertising 500 0.1% 640 0.1% 1,126 0.2% 0 0.0% 0 0.0% 0 0.0% Menus & Drink List 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Meals & Entertainment 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Member Relations 0 0.0% 0 0.0% 0 0.0% 711 0.4% 600 0.3% 288 0.1% Miscellaneous 2,544 0.4% 1,050 0.1% 2,276 0.4% 6,583 3.3% 7,500 3.5% 5,850 2.9% Music & Entertainment 24,243 3.6% 25,100 3.5% 24,045 3.7% 554 0.3% 280 0.1% 64 0.0% Office Expense 1,199 0.2% 1,040 0.1% 1,018 0.2% 1,402 0.7% 2,120 1.0% 2,697 1.3% Operating Supplies 5,674 0.8% 7,195 1.0% 9,207 1.4% 1,740 0.9% 1,900 0.9% 1,784 0.9% Paper & Plastic 6,149 0.9% 6,500 0.9% 6,106 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% 1,526 0.8% 1,450 0.7% 1,308 0.7% Promotions 4,896 0.7% 4,265 0.6% 3,208 0.5% 0 0.0% 0 0.0% 0 0.0% Table & Bar Supplies 0 0.0% 0 0.0% 0 0.0% 762 0.4% 844 0.4% 840 0.4% Telephone 2,937 0.4% 3,376 0.5% 3,562 0.6% 0 0.0% 0 0.0% 0 0.0% Travel 0 0.0% 0 0.0% 0 0.0% 234 0.1% 600 0.3% 0 0.0% Uniforms 2,810 0.4% 4,950 0.7% 3,519 0.5% 18 0.0% 100 0.0% 150 0.1% Utensils 770 0.1% 1,000 0.1% 191 0.0% 26,307 13.1% 33,497 15.4% 28,912 14.4% TOTAL OTHER EXPENSES 109,765 16.4% 127,377 17.9% 109,262 16.9% (20,943) -10.5% (22,742) -10.5% (29,462) -14.7% DEPARTMENTAL PROFIT/(LOSS) (117,405) -17.5% (164,879) -23.2% (170,032) -26.3% 10

THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. WHEELHOUSE RESTAURANT DEPARTMENTAL PROFIT & LOSS January 31, 2017 M-T-D M-T-D M-T-D Y-T-D Y-T-D Y-T-D ACTUAL BUDGET LAST YEAR ACTUAL BUDGET LAST YEAR REVENUE FOOD REVENUE 72,765 69.8% 79,031 70.4% 69,696 69.6% Dining Room 205,682 68.7% 250,731 69.2% 216,821 69.1% 0 0.0% 0 0.0% 0 0.0% Banquet 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Patio 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Picinc Point 0 0.0% 0 0.0% 0 0.0% 72,765 69.8% 79,031 70.4% 69,696 69.6% TOTAL FOOD REVENUE 205,682 68.7% 250,731 69.2% 216,821 69.1% BEVERAGE REVENUE 31,422 30.2% 33,193 29.6% 30,491 30.4% Dining Room 93,829 31.3% 111,392 30.8% 96,864 30.9% 0 0.0% 0 0.0% 0 0.0% Banquet 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Patio 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Picnic Point 0 0.0% 0 0.0% 0 0.0% 31,422 30.2% 33,193 29.6% 30,491 30.4% TOTAL BEVERAGE REVENUE 93,829 31.3% 111,392 30.8% 96,864 30.9% OTHER REVENUE 0 0.0% 0 0.0% 0 0.0% Miscellaneous 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% TOTAL OTHER REVENUE 0 0.0% 0 0.0% 0 0.0% 104,187 100.0% 112,223 100.0% 100,188 100.0% TOTAL FOOD & BEVERAGE REVENUE 299,511 100.0% 362,123 100.0% 313,685 100.0% COST OF SALES 26,909 37.0% 31,217 39.5% 26,757 38.4% Food Cost of Sales 75,742 36.8% 99,039 39.5% 82,238 37.9% 10,622 33.8% 10,622 32.0% 11,464 37.6% Beverage Cost of Sales 31,042 33.1% 35,646 32.0% 32,780 33.8% 37,531 36.0% 41,839 37.3% 38,221 38.1% TOTAL COST OF SALES 106,785 35.7% 134,684 37.2% 115,018 36.7% WAGES & BENEFITS 23,397 22.5% 24,812 22.1% 24,072 24.0% Salaries & Wages - Dining Room 84,841 28.3% 93,458 25.8% 88,397 28.2% 23,918 23.0% 21,419 19.1% 22,674 22.6% Salaries & Wages - Kitchen 84,996 28.4% 86,512 23.9% 78,957 25.2% 11,607 11.1% 10,301 9.2% 11,687 11.7% Payroll Burden 37,166 12.4% 39,360 10.9% 37,383 11.9% 2,446 2.3% 2,200 2.0% 2,194 2.2% Employee Meals 10,257 3.4% 8,500 2.3% 9,577 3.1% 2,851 2.7% 4,371 3.9% 4,238 4.2% Group Insurance 11,612 3.9% 16,971 4.7% 18,876 6.0% 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% 2,710 2.6% 1,200 1.1% 2,828 2.8% Vacation/Holiday 10,823 3.6% 7,603 2.1% 11,017 3.5% 248 0.2% 275 0.2% 268 0.3% 401(k) Program 1,115 0.4% 1,100 0.3% 1,036 0.3% 55 0.1% 240 0.2% 0 0.0% Miscellaneous 1,198 0.4% 960 0.3% 1,271 0.4% 67,232 64.5% 64,818 57.8% 67,962 67.8% TOTAL WAGES & BENEFITS 242,007 80.8% 254,464 70.3% 246,514 78.6% OTHER EXPENSES 0 0.0% 25 0.0% 75 0.1% Advertising - Help Wanted 25 0.0% 100 0.0% 413 0.1% 0 0.0% 0 0.0% 0 0.0% Banquet Supplies 0 0.0% 0 0.0% 0 0.0% 251 0.2% 288 0.3% 221 0.2% Cable TV 1,205 0.4% 1,152 0.3% 877 0.3% 0 0.0% 0 0.0% (12) 0.0% Cash ( Over ) / Short 0 0.0% 0 0.0% (12) 0.0% 224 0.2% 2,500 2.2% 507 0.5% China/Glass/Silverware 3,257 1.1% 5,600 1.5% 2,957 0.9% 580 0.6% 500 0.4% 468 0.5% Cleaning Supplies 1,824 0.6% 1,700 0.5% 1,452 0.5% 0 0.0% 0 0.0% 0 0.0% Clubhouse Cleaning 0 0.0% 0 0.0% 0 0.0% 1,361 1.3% 1,250 1.1% 1,290 1.3% Credit Card Discounts Fees 3,464 1.2% 4,200 1.2% 3,604 1.1% 0 0.0% 0 0.0% 0 0.0% Decorations 0 0.0% 600 0.2% 109 0.0% 0 0.0% 0 0.0% 0 0.0% Dues & Subscriptions 1,021 0.3% 1,145 0.3% 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% 13 0.0% Gasoline & Oil 28 0.0% 0 0.0% 63 0.0% 0 0.0% 75 0.1% 0 0.0% Kitchen Equipment 95 0.0% 300 0.1% 0 0.0% 1,269 1.2% 1,030 0.9% 1,393 1.4% Laundry & Linen 3,665 1.2% 3,795 1.0% 4,671 1.5% 454 0.4% 416 0.4% 308 0.3% Leased Equipment 2,005 0.7% 1,664 0.5% 1,234 0.4% 0 0.0% 0 0.0% 0 0.0% License & Fees 273 0.1% 273 0.1% 273 0.1% 964 0.9% 1,228 1.1% 686 0.7% Maintenance Contracts 2,992 1.0% 3,732 1.0% 2,224 0.7% 268 0.0% 700 0.6% 1,977 2.0% Maintenance & Repairs 1,891 0.6% 2,200 0.6% 2,524 0.8% 0 0.0% 0 0.0% 0 0.0% Meals & Entertainment 0 0.0% 0 0.0% 0 0.0% 3 0.0% 0 0.0% 6 0.0% Miscellaneous 61 0.0% 0 0.0% 32 0.0% 1,650 1.6% 1,900 1.7% 1,625 1.6% Music & Entertainment 5,250 1.8% 7,450 2.1% 6,250 2.0% 132 0.1% 80 0.1% 0 0.0% Office Expense 316 0.1% 240 0.1% 274 0.1% 871 0.8% 800 0.7% 1,304 1.3% Operating Supplies 2,636 0.9% 2,885 0.8% 3,963 1.3% 733 0.7% 1,000 0.9% 1,063 1.1% Paper & Plastic 2,986 1.0% 3,550 1.0% 3,490 1.1% 723 0.7% 650 0.6% 598 0.6% Promotions 2,281 0.8% 2,015 0.6% 1,499 0.5% 355 0.3% 374 0.3% 339 0.3% Telephone 1,194 0.4% 1,496 0.4% 1,725 0.5% 0 0.0% 0 0.0% 0 0.0% Travel 0 0.0% 0 0.0% 0 0.0% 176 0.2% 550 0.5% 0 0.0% Uniforms 1,156 0.4% 1,700 0.5% 924 0.3% 0 0.0% 0 0.0% 0 0.0% Utensils 0 0.0% 0 0.0% 0 0.0% 10,017 9.6% 13,366 11.9% 11,862 11.8% TOTAL OTHER EXPENSES 37,625 12.6% 45,797 12.6% 38,545 12.3% (10,593) -10.2% (7,799) -6.9% (17,857) -17.8% DEPARTMENTAL PROFIT/(LOSS) (86,906) -29.0% (72,822) -20.1% (86,392) -27.5% 11

THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. HELM CLUB RESTAURANT DEPARTMENTAL PROFIT & LOSS January 31, 2017 M-T-D M-T-D M-T-D Y-T-D Y-T-D Y-T-D ACTUAL BUDGET LAST YEAR ACTUAL BUDGET LAST YEAR REVENUE FOOD REVENUE 27,327 28.5% 31,493 29.9% 30,905 30.8% Compass Rose 91,190 24.6% 86,402 24.8% 83,489 25.2% 35,160 36.7% 35,933 34.2% 36,260 36.1% Banquet 152,225 41.0% 143,688 41.2% 135,707 40.9% 0 0.0% 0 0.0% 0 0.0% Beverage Cart 0 0.0% 0 0.0% 0 0.0% 62,487 65.2% 67,426 64.1% 67,164 66.9% TOTAL FOOD REVENUE 243,414 65.6% 230,089 66.0% 219,196 66.1% BEVERAGE REVENUE 17,527 18.3% 18,266 17.4% 17,178 17.1% Compass Rose 57,001 15.4% 50,113 14.4% 49,919 15.0% 12,287 12.8% 10,780 10.3% 11,072 11.0% Banquet 49,536 13.3% 43,106 12.4% 43,520 13.1% 29,813 31.1% 29,046 27.6% 28,251 28.2% TOTAL BEVERAGE REVENUE 106,538 28.7% 93,219 26.7% 93,440 28.2% OTHER REVENUE 3,435 3.6% 3,683 3.5% 3,683 3.7% Helm Club Dining Dues 14,237 3.8% 14,733 4.2% 14,519 4.4% 165 0.2% 5,000 4.8% 1,249 1.2% Miscellaneous 7,149 1.9% 10,660 3.1% 4,642 1.4% 3,600 3.8% 8,683 8.3% 4,932 4.9% TOTAL OTHER REVENUE 21,386 5.8% 25,393 7.3% 19,161 5.8% 95,901 100.0% 105,155 100.0% 100,347 100.0% TOTAL FOOD & BEVERAGE REVENUE 371,338 100.0% 348,701 100.0% 331,797 100.0% COST OF SALES 22,597 36.2% 28,993 43.0% 25,758 38.4% Food Cost of Sales 83,953 34.5% 98,938 43.0% 93,719 42.8% 8,813 29.6% 9,295 32.0% 5,612 19.9% Beverage Cost of Sales 30,851 29.0% 29,830 32.0% 28,957 31.0% 31,410 32.8% 38,288 36.4% 31,370 31.3% TOTAL COST OF SALES 114,804 30.9% 128,768 36.9% 122,676 37.0% WAGES & BENEFITS 24,463 25.5% 23,177 22.0% 22,075 22.0% Salaries & Wages - Dining Room 93,086 25.1% 83,791 24.0% 80,357 24.2% 20,701 21.6% 24,194 23.0% 24,863 24.8% Salaries & Wages - Kitchen 74,328 20.0% 92,073 26.4% 87,939 26.5% 9,367 9.8% 8,053 7.7% 8,847 8.8% Payroll Burden 30,675 8.3% 29,897 8.6% 28,677 8.6% 2,018 2.1% 1,700 1.6% 1,698 1.7% Employee Meals 6,161 1.7% 5,630 1.6% 5,260 1.6% 860 0.9% 3,200 3.0% 3,682 3.7% Group Insurance 5,037 1.4% 12,800 3.7% 11,930 3.6% 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% 1,003 1.0% 1,000 1.0% 2,047 2.0% Vacation/Holiday 4,196 1.1% 4,800 1.4% 6,221 1.9% 140 0.1% 250 0.2% 319 0.3% 401(k) Program 616 0.2% 1,000 0.3% 1,380 0.4% 0 0.0% 105 0.1% 0 0.0% Miscellaneous 794 0.2% 420 0.1% 279 0.1% 58,552 61.1% 61,679 58.7% 63,532 63.3% TOTAL WAGES & BENEFITS 214,893 57.9% 230,410 66.1% 222,044 66.9% OTHER EXPENSES 25 0.0% 50 0.0% 50 0.0% Advertising - Help Wanted 75 0.0% 150 0.0% 338 0.1% 129 0.1% 0 0.0% 342 0.3% Banquet Supplies 2,497 0.7% 3,900 1.1% 678 0.2% 197 0.2% 275 0.3% 182 0.2% Cable TV 754 0.2% 1,100 0.3% 732 0.2% 0 0.0% 0 0.0% 0 0.0% Cash ( Over ) / Short 0 0.0% 0 0.0% (4) 0.0% 101 0.1% 0 0.0% 310 0.3% China/Glass/Silverware 2,387 0.6% 4,000 1.1% 2,564 0.8% 645 0.7% 1,100 1.0% 692 0.7% Cleaning Supplies 2,759 0.7% 3,500 1.0% 2,745 0.8% 0 0.0% 0 0.0% 0 0.0% Contract Labor 416 0.1% 950 0.3% 900 0.3% 517 0.5% 562 0.5% 562 0.6% Credit Card Discounts Fees 2,905 0.8% 1,663 0.5% 1,485 0.4% 754 0.8% 700 0.7% 691 0.7% Decorations 4,064 1.1% 4,100 1.2% 3,481 1.0% 0 0.0% 0 0.0% 125 0.1% Dues & Subscriptions 1,520 0.4% 1,595 0.5% 125 0.0% 180 0.2% 300 0.3% 0 0.0% Equipment Rental 1,744 0.5% 2,259 0.6% 430 0.1% 0 0.0% 0 0.0% 13 0.0% Gasoline & Oil 28 0.0% 0 0.0% 63 0.0% 0 0.0% 75 0.1% 0 0.0% Kitchen Equipment 408 0.1% 300 0.1% 175 0.1% 1,395 1.5% 1,540 1.5% 2,283 2.3% Laundry & Linen 5,979 1.6% 7,160 2.1% 8,016 2.4% 650 0.7% 730 0.7% 856 0.9% Leased Equipment 2,852 0.8% 2,920 0.8% 3,427 1.0% 113 0.1% 67 0.1% 0 0.0% License & Fees 537 0.1% 625 0.2% 357 0.1% 890 0.9% 3,217 3.1% 2,109 2.1% Maintenance Contracts 3,303 0.9% 6,378 1.8% 4,415 1.3% 1,682 1.8% 1,350 1.3% 525 0.5% Maintenance & Repairs 4,072 1.1% 5,200 1.5% 4,693 1.4% 125 0.1% 125 0.1% 264 0.3% Marketing & Advertising 500 0.1% 640 0.2% 1,126 0.3% 0 0.0% 0 0.0% 0 0.0% Menus & Drink List 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Meals & Entertainment 0 0.0% 0 0.0% 0 0.0% 708 0.7% 600 0.6% 282 0.3% Miscellaneous 2,482 0.7% 1,050 0.3% 2,243 0.7% 4,933 5.1% 5,600 5.3% 4,225 4.2% Music & Entertainment 18,993 5.1% 17,650 5.1% 17,795 5.4% 422 0.4% 200 0.2% 64 0.1% Office Expense 883 0.2% 800 0.2% 743 0.2% 531 0.6% 1,320 1.3% 1,393 1.4% Operating Supplies 3,037 0.8% 4,310 1.2% 5,244 1.6% 1,007 1.1% 900 0.9% 721 0.7% Paper & Plastic 3,163 0.9% 2,950 0.8% 2,616 0.8% 0 0.0% 0 0.0% 0 0.0% Printing 0 0.0% 0 0.0% 0 0.0% 803 0.8% 800 0.8% 709 0.7% Promotions 2,616 0.7% 2,250 0.6% 1,709 0.5% 407 0.4% 470 0.4% 501 0.5% Telephone 1,743 0.5% 1,880 0.5% 1,837 0.6% 0 0.0% 0 0.0% 0 0.0% Travel 0 0.0% 0 0.0% 0 0.0% 58 0.1% 50 0.0% 0 0.0% Uniforms 1,654 0.4% 3,250 0.9% 2,595 0.8% 18 0.0% 100 0.1% 150 0.1% Utensils 770 0.2% 1,000 0.3% 191 0.1% 16,289 17.0% 20,131 19.1% 17,050 17.0% TOTAL OTHER EXPENSES 72,140 19.4% 81,580 23.4% 70,717 21.3% (10,350) -10.8% (14,943) -14.2% (11,605) -11.6% DEPARTMENTAL PROFIT/(LOSS) (30,500) -8.2% (92,057) -26.4% (83,640) -25.2% 12

THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. GOLF OPERATIONS DEPARTMENTAL PROFIT & LOSS January 31, 2017 M-T-D M-T-D M-T-D Y-T-D Y-T-D Y-T-D ACTUAL BUDGET LAST YEAR ACTUAL BUDGET LAST YEAR REVENUE GOLF REVENUE 15,642 35.2% 14,420 34.8% 11,794 32.9% Cart Revenue 48,336 39.2% 43,740 37.4% 42,369 36.6% 0 0.0% 0 0.0% 0 0.0% Locker Revenue 0 0.0% 0 0.0% 0 0.0% 5,760 13.0% 5,274 12.7% 4,000 11.1% Green Fees 13,090 10.6% 10,187 8.7% 9,623 8.3% 8,126 18.3% 10,000 24.1% 8,223 22.9% Golf Merchandise 31,280 25.4% 36,411 31.1% 35,250 30.5% 1,600 3.6% 1,590 3.8% 1,600 4.5% Club Storage 6,400 5.2% 6,360 5.4% 6,656 5.8% 0 0.0% 0 0.0% 0 0.0% Reciprocal 958 0.8% 550 0.5% 1,629 1.4% 3,561 8.0% 2,070 5.0% 2,070 5.8% Practice Range 8,481 6.9% 6,159 5.3% 6,159 5.3% 0 0.0% 0 0.0% 0 0.0% Summer Golf Memberships 0 0.0% 0 0.0% 0 0.0% 6,920 15.6% 6,110 14.7% 6,110 17.0% Handicaps 7,120 5.8% 6,310 5.4% 6,310 5.5% 798 1.8% 660 1.6% 688 1.9% Pull Cart Rental 1,692 1.4% 1,490 1.3% 1,526 1.3% 0 0.0% 0 0.0% 0 0.0% Miscellaneous Income 20 0.0% 0 0.0% 0 0.0% 160 0.4% 60 0.1% 130 0.4% Miscellaneous Shop Service 400 0.3% 510 0.4% 470 0.4% 1,000 2.2% 1,000 2.4% 985 2.7% Lessons 4,005 3.2% 4,000 3.4% 4,280 3.7% 800 1.8% 200 0.5% 200 0.6% Lessons Asst Golf Pro 1,320 1.1% 800 0.7% 860 0.7% 78 0.2% 100 0.2% 96 0.3% Club Repair 141 0.1% 500 0.4% 510 0.4% 44,445 100.0% 41,484 100.0% 35,896 100.0% TOTAL GOLF REVENUE 123,243 100.0% 117,018 100.0% 115,641 100.0% COST OF SALES 4,549 56.0% 7,000 70.0% 4,608 56.0% Golf Merchandise COS 18,817 60.2% 25,488 70.0% 27,995 79.4% 310 3.8% 200 2.0% 318 3.9% Golf Merchandise Freight COS 1,560 5.0% 728 2.0% 1,380 3.9% 8-0.1% (100) 1.0% 41-0.5% Golf Merchandise Discounts COS 308-1.0% (364) 1.0% 576-1.6% 4,850 59.7% 7,300 73.0% 4,885 59.4% TOTAL COST OF SALES 20,069 64.2% 26,580 73.0% 28,799 81.7% WAGES & BENEFITS 21,776 49.0% 22,480 54.2% 20,067 55.9% Salaries & Wages 73,204 59.4% 79,825 68.2% 67,691 58.5% 2,307 5.2% 1,680 4.0% 2,115 5.9% Commissions/Lessons 7,638 6.2% 6,782 5.8% 7,260 6.3% 3,808 8.6% 3,162 7.6% 3,468 9.7% Payroll Burden 11,895 9.7% 11,721 10.0% 10,911 9.4% 0 0.0% 0 0.0% 0 0.0% Employee Meals 0 0.0% 0 0.0% 0 0.0% 463 1.0% 715 1.7% 715 2.0% Group Insurance 1,822 1.5% 2,860 2.4% 1,810 1.6% 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% 453 1.0% 743 1.8% 440 1.2% Vacation/Holiday 2,234 1.8% 1,866 1.6% 1,514 1.3% 2 0.0% 100 0.2% 0 0.0% 401(k) Program 7 0.0% 400 0.3% 0 0.0% 0 0.0% 30 0.1% 0 0.0% Miscellaneous 599 0.5% 120 0.1% 395 0.3% 28,807 64.8% 28,910 69.7% 26,805 74.7% TOTAL WAGES & BENEFITS 97,401 79.0% 103,574 88.5% 89,582 77.5% 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 120 0.1% 132 0.1% 120 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% 20 0.0% 0 0.0% Cleaning Supplies 0 0.0% 40 0.0% 0 0.0% 228 0.5% 330 0.8% 206 0.6% Credit Card Discount Fees 725 0.6% 802 0.7% 715 0.6% 6 0.0% 50 0.1% 0 0.0% Decorations 49 0.0% 150 0.1% 70 0.1% 0 0.0% 0 0.0% 0 0.0% Donations 0 0.0% 0 0.0% 0 0.0% 13 0.0% 0 0.0% 0 0.0% Dues & Subscriptions 319 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% 3,494 7.9% 3,720 9.0% 3,502 9.8% Leased Equipment 14,993 12.2% 14,079 12.0% 14,008 12.1% 1,371 3.1% 816 2.0% 585 1.6% Maintenance Contracts 4,103 3.3% 3,263 2.8% 2,341 2.0% 58 0.1% 117 0.3% 742 2.1% Maintenance & Repairs 453 0.4% 467 0.4% 867 0.7% 0 0.0% 100 0.2% 0 0.0% Meals & Entertainment 0 0.0% 350 0.3% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Miscellaneous 0 0.0% 0 0.0% 0 0.0% 9 0.0% 375 0.9% 323 0.9% Office Expense 385 0.3% 1,005 0.9% 1,080 0.9% 340 0.8% 410 1.0% 16 0.0% Operating Supplies 1,339 1.1% 1,360 1.2% 640 0.6% 245 0.6% 150 0.4% 116 0.3% Paper Products/Water 907 0.7% 625 0.5% 557 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% 150 0.3% 70 0.2% 0 0.0% Practice Range 356 0.3% 115 0.1% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Printing 0 0.0% 0 0.0% 67 0.1% 347 0.8% 200 0.5% 0 0.0% Promotions 867 0.7% 800 0.7% 0 0.0% 988 2.2% 0 0.0% 0 0.0% Scorecard & Pencils 1,345 1.1% 1,850 1.6% 1,280 1.1% 0 0.0% 0 0.0% 0 0.0% Small Tools 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Tees & Towels 0 0.0% 0 0.0% 164 0.1% 348 0.8% 245 0.6% 218 0.6% Telephone 1,339 1.1% 980 0.8% 1,063 0.9% 0 0.0% 800 1.9% 542 1.5% Travel 54 0.0% 950 0.8% 642 0.6% 0 0.0% 350 0.8% 44 0.1% Uniforms 1,169 0.9% 1,250 1.1% 160 0.1% 7,715 17.4% 7,786 18.8% 6,324 17.6% TOTAL OTHER EXPENSES 28,887 23.4% 28,328 24.2% 25,561 22.1% 3,072 6.9% (2,511) -6.1% (2,119) -5.9% DEPARTMENTAL PROFIT/(LOSS) (23,114) -18.8% (41,464) -35.4% (28,301) -24.5% 13

THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. TENNIS DEPARTMENTAL PROFIT & LOSS January 31, 2017 M-T-D M-T-D M-T-D Y-T-D Y-T-D Y-T-D ACTUAL BUDGET LAST YEAR ACTUAL BUDGET LAST YEAR REVENUE TENNIS REVENUE 849 2.9% 1,400 6.6% 1,412 6.3% Tennis Guest Fees 1,730 1.7% 2,500 2.7% 2,512 2.5% 6,781 23.1% 6,000 28.3% 5,282 23.6% Tennis Merchandise 28,645 28.6% 33,000 35.6% 32,357 31.8% - 0.0% - 0.0% - 0.0% Tennis Miscellaneous 50 0.0% - 0.0% 1,045 1.0% 2,900 9.9% 2,808 13.2% 2,808 12.5% Dues - Single 11,416 11.4% 11,233 12.1% 11,432 11.3% 1,090 3.7% 1,110 5.2% 1,120 5.0% Dues - Family 4,400 4.4% 4,440 4.8% 4,612 4.5% 120 0.4% 500 2.4% 40 0.2% Tennis Member Events 298 0.3% 500 0.5% 190 0.2% - 0.0% 2,000 9.4% 2,000 8.9% Tennis Open Events 600 0.6% 2,600 2.8% 2,500 2.5% 244 0.8% 400 1.9% 313 1.4% Tennis Ball Machine 736 0.7% 1,300 1.4% 945 0.9% 3,940 13.4% - 0.0% 793 3.5% Tennis Camp 13,376 13.3% 6,000 6.5% 11,174 11.0% 12,980 44.1% 6,500 30.6% 8,370 37.4% Tennis Lessons 37,501 37.4% 29,500 31.8% 33,754 33.2% 507 1.7% 500 2.4% 240 1.1% Tennis Stringing 1,498 1.5% 1,700 1.8% 1,083 1.1% - 0.0% - 0.0% - 0.0% Florida Open - 0.0% - 0.0% - 0.0% 29,410 100.0% 21,218 100.0% 22,378 100.0% TOTAL TENNIS REVENUE 100,251 100.0% 92,773 100.0% 101,604 100.0% COST OF SALES 4,961 73.2% 4,560 76.0% 3,325 63.0% Cost of Sales - Tennis Merchandise 21,305 74.4% 25,080 76.0% 26,954 83.3% 105 1.5% 132 2.2% 140 2.7% Cost of Sales - Freight 416 1.5% 726 2.2% 906 2.8% - 0.0% (120) 2.0% (35) 0.7% Cost of Sales - Discounts 124-0.4% (660) 2.0% 98-0.3% 5,066 74.7% 4,812 80.2% 3,501 66.3% TOTAL COST OF SALES 21,597 75.4% 26,466 80.2% 27,762 85.8% WAGES & BENEFITS 16,030 54.5% 17,316 81.6% 15,185 67.9% Salaries & Wages 62,480 62.3% 65,884 71.0% 57,316 56.4% 10,545 35.9% 7,081 33.4% 7,823 35.0% Commissions/Lessons 36,619 36.5% 29,405 31.7% 28,129 27.7% - 0.0% - 0.0% - 0.0% Tennis Camp Wages - 0.0% - 0.0% - 0.0% 3,754 12.8% 2,771 13.1% 3,359 15.0% Payroll Burden 13,937 13.9% 10,541 11.4% 12,172 12.0% - 0.0% - 0.0% 24 0.1% Employee Meals - 0.0% - 0.0% 24 0.0% 812 2.8% 1,107 5.2% 1,013 4.5% Group Insurance 3,696 3.7% 4,430 4.8% 4,343 4.3% - 0.0% - 0.0% - 0.0% Bonus - 0.0% - 0.0% - 0.0% 588 2.0% 875 4.1% 584 2.6% Vacation/Holiday 2,710 2.7% 3,500 3.8% 2,208 2.2% - 0.0% - 0.0% - 0.0% 401(k) Program - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% Miscellaneous 125 0.1% - 0.0% 223 0.2% 31,729 107.9% 29,150 137.4% 27,988 125.1% TOTAL WAGES & BENEFITS 119,568 119.3% 113,760 122.6% 104,415 102.8% 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 120 0.1% 137 0.1% 120 0.1% - 0.0% - 0.0% - 0.0% Cash ( Over ) / Short - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% 663 3.0% Clay Tennis 477 0.5% 1,500 1.6% 1,041 1.0% - 0.0% - 0.0% - 0.0% Cleaning Supplies - 0.0% 100 0.1% - 0.0% 3,211 10.9% - 0.0% 1,787 8.0% Contract Labor 6,978 7.0% - 0.0% 5,570 5.5% 358 1.2% 205 1.0% 205 0.9% Credit Card Discount Fees 920 0.9% 886 1.0% 886 0.9% - 0.0% - 0.0% - 0.0% Decorations - 0.0% 150 0.2% 102 0.1% - 0.0% - 0.0% - 0.0% Dues & Subscriptions 295 0.3% 518 0.6% 650 0.6% - 0.0% - 0.0% - 0.0% Florida Open Expense - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% - 0.0% Grounds & Courts 702 0.7% 1,760 1.9% 297 0.3% 326 1.1% 315 1.5% 188 0.8% Leased Equipment 1,304 1.3% 1,260 1.4% 1,301 1.3% 254 0.9% 243 1.1% 187 0.8% Maintenance Contracts 1,354 1.4% 972 1.0% 748 0.7% 115 0.4% 2,780 13.1% 135 0.6% Maintenance & Repairs 1,029 1.0% 4,328 4.7% 2,046 2.0% - 0.0% 1,000 4.7% - 0.0% Marketing & Advertising - 0.0% 1,000 1.1% - 0.0% - 0.0% 50 0.2% - 0.0% Meals & Entertainment - 0.0% 200 0.2% 6 0.0% 79 0.3% 1,500 7.1% - 0.0% Tennis Member Events 79 0.1% 1,500 1.6% - 0.0% 47 0.2% - 0.0% 2,612 11.7% Tennis Open Events 874 0.9% 600 0.6% 3,787 3.7% - 0.0% - 0.0% 1,735 7.8% Miscellaneous 7 0.0% - 0.0% 1,816 1.8% - 0.0% 150 0.7% 99 0.4% Office Expense 583 0.6% 450 0.5% 711 0.7% 1,146 3.9% 350 1.6% - 0.0% Operating Supplies 3,056 3.0% 3,944 4.3% 1,572 1.5% - 0.0% 50 0.2% - 0.0% Postage - 0.0% 150 0.2% 14 0.0% - 0.0% - 0.0% - 0.0% Printing - 0.0% 100 0.1% - 0.0% 149 0.5% 30 0.1% 514 2.3% Promotions 310 0.3% 120 0.1% 1,222 1.2% - 0.0% - 0.0% - 0.0% Small Tools 1,123 1.1% 1,076 1.2% 1,282 1.3% - 0.0% - 0.0% 490 2.2% Stringing Fees 1,150 1.1% - 0.0% 1,160 1.1% 444 1.5% 430 2.0% 338 1.5% Telephone 1,629 1.6% 1,720 1.9% 1,804 1.8% - 0.0% - 0.0% - 0.0% Tennis Camp 4,625 4.6% 6,000 6.5% 10,220 10.1% - 0.0% - 0.0% - 0.0% Travel - 0.0% - 0.0% (75) -0.1% 143 0.5% 350 1.6% 29 0.1% Uniforms 158 0.2% 700 0.8% 452 0.4% 6,302 21.4% 7,488 35.3% 9,013 40.3% TOTAL OTHER EXPENSES 26,799 26.7% 29,171 31.4% 36,972 36.4% (13,686) -46.5% (20,231) -95.3% (18,124) -81.0% DEPARTMENTAL PROFIT/(LOSS) (67,714) -67.5% (76,624) -82.6% (67,544) -66.5% 14

THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. MARINA DEPARTMENTAL PROFIT & LOSS January 31, 2017 M-T-D M-T-D M-T-D Y-T-D Y-T-D Y-T-D ACTUAL BUDGET LAST YEAR ACTUAL BUDGET LAST YEAR REVENUE MARINA REVENUE 19,412 10.7% 18,000 13.2% 19,746 14.5% Marina Merchandise/Services 111,523 16.8% 72,000 12.3% 84,089 13.6% 79,065 43.7% 61,600 45.3% 52,074 38.1% Marina Gas Sales 272,022 41.1% 253,050 43.2% 235,459 38.1% 3,926 2.2% 4,800 3.5% 3,847 2.8% Marina Diesel Sales 24,557 3.7% 20,400 3.5% 19,394 3.1% 1,343 0.7% 1,500 1.1% 1,338 1.0% Marina Boat Servicing ( In House ) 7,577 1.1% 7,200 1.2% 3,569 0.6% 67,450 37.3% 42,000 30.9% 50,918 37.3% Marina Boat Servicing ( Subcontractor ) 213,036 32.2% 200,000 34.2% 245,200 39.6% 189 0.1% 0 0.0% 131 0.1% Marina Dock Hook Up 279 0.0% 0 0.0% 375 0.1% 0 0.0% 300 0.2% 0 0.0% Marina Dock On Rental 0 0.0% 450 0.1% 0 0.0% 2,838 1.6% 2,838 2.1% 2,750 2.0% Marina Electric Cord Charge 11,352 1.7% 11,352 1.9% 10,728 1.7% 2,185 1.2% 1,700 1.2% 1,375 1.0% Marina Boat Rental 5,430 0.8% 7,000 1.2% 3,780 0.6% 3,230 1.8% 2,800 2.1% 3,185 2.3% Marina Boat Storage 12,950 2.0% 11,200 1.9% 13,251 2.1% 1,215 0.7% 500 0.4% 1,270 0.9% Marina Ramp Fees 3,230 0.5% 2,700 0.5% 2,430 0.4% 57 0.0% 0 0.0% 9 0.0% Marina Miscellaneous Income 443 0.1% 0 0.0% 203 0.0% 180,910 100.0% 136,038 100.0% 136,641 100.0% TOTAL MARINA REVENUE 662,399 100.0% 585,352 100.0% 618,477 100.0% COST OF SALES 13,999 72.1% 12,600 70.0% 14,541 73.6% Merchandise/Service 85,230 76.4% 50,400 70.0% 60,086 71.5% 65,636 83.0% 52,976 86.0% 40,236 77.3% Gasoline 225,277 82.8% 217,623 86.0% 186,470 79.2% 3,000 76.4% 3,648 76.0% 2,450 63.7% Diesel 18,191 74.1% 15,504 76.0% 13,175 67.9% 118 3.0% 219 4.6% 178 4.6% Fuel Use Tax Diesel 982 4.0% 930 4.6% 720 3.7% 57,224 83.2% 35,280 81.1% 43,595 83.4% Subcontractor Work 181,035 82.1% 168,000 81.1% 211,677 85.1% 0 0.0% 0 0.0% 0 0.0% Rental Boat Expense 0 0.0% 0 0.0% 0 0.0% 139,977 80.7% 104,723 80.8% 100,999 78.1% TOTAL COST OF SALES 510,715 80.5% 452,457 80.8% 472,128 79.8% WAGES & BENEFITS 12,653 7.0% 12,674 9.3% 12,407 9.1% Salaries & Wages 50,418 7.6% 50,545 8.6% 46,308 7.5% 5,396 3.0% 4,239 3.1% 4,616 3.4% Commissions 19,761 3.0% 16,729 2.9% 19,095 3.1% 3,208 1.8% 2,538 1.9% 3,103 2.3% Payroll Burden 10,870 1.6% 11,711 2.0% 10,664 1.7% 0 0.0% 25 0.0% 0 0.0% Employee Meals 0 0.0% 100 0.0% 0 0.0% 971 0.5% 992 0.7% 721 0.5% Group Insurance 3,885 0.6% 3,968 0.7% 3,598 0.6% 0 0.0% 0 0.0% 0 0.0% Bonus 0 0.0% 0 0.0% 0 0.0% 1,369 0.8% 875 0.6% 676 0.5% Vacation/Holiday 3,536 0.5% 3,175 0.5% 3,821 0.6% 0 0.0% 10 0.0% 0 0.0% 401(k) Program 0 0.0% 40 0.0% 0 0.0% 0 0.0% 25 0.0% 0 0.0% Miscellaneous 0 0.0% 100 0.0% 87 0.0% 23,598 13.0% 21,378 15.7% 21,523 15.8% TOTAL WAGES & BENEFITS 88,470 13.4% 86,368 14.8% 83,573 13.5% OTHER EXPENSES 52 0.0% 97 0.1% 97 0.1% Cable TV 343 0.1% 388 0.1% 388 0.1% 0 0.0% 0 0.0% 0 0.0% Cash (over) / Short 0 0.0% 0 0.0% 0 0.0% 37 0.0% 25 0.0% 110 0.1% Cleaning Supplies 251 0.0% 100 0.0% 757 0.1% 2,662 1.5% 2,000 1.5% 504 0.4% Credit Card Discount Fees 9,208 1.4% 8,000 1.4% 7,378 1.2% 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% 0 0.0% 0 0.0% 1,717 0.9% 2,292 1.7% 1,888 1.4% Electric - Boat Docks 7,043 1.1% 10,872 1.9% 9,174 1.5% 68 0.0% 125 0.1% 73 0.1% Gasoline & Oil 170 0.0% 500 0.1% 73 0.0% 0 0.0% 100 0.1% 0 0.0% Grounds, Parking & Docks 0 0.0% 400 0.1% 0 0.0% 349 0.2% 342 0.3% 554 0.4% Leased Equipment 1,396 0.2% 1,368 0.2% 1,884 0.3% 0 0.0% 0 0.0% 0 0.0% Licenses & Fees 0 0.0% 0 0.0% 0 0.0% 138 0.1% 138 0.1% 145 0.1% Maintenance Contracts 604 0.1% 564 0.1% 561 0.1% 146 0.1% 750 0.6% 991 0.7% Maintenance & Repairs 1,688 0.3% 1,800 0.3% 2,227 0.4% 39 0.0% 10 0.0% 45 0.0% Meals & Entertainment 238 0.0% 40 0.0% 252 0.0% 0 0.0% 0 0.0% 0 0.0% Miscellaneous 0 0.0% 0 0.0% 0 0.0% 0 0.0% 75 0.1% 0 0.0% Office Expense 0 0.0% 300 0.1% 67 0.0% 344 0.2% 545 0.4% 341 0.2% Operating Supplies 1,398 0.2% 2,180 0.4% 1,617 0.3% 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% 20 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% 440 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% 0 0.0% 100 0.1% 51 0.0% Small Tools 561 0.1% 400 0.1% 68 0.0% 547 0.3% 325 0.2% 306 0.2% Telephone 1,663 0.3% 1,300 0.2% 1,332 0.2% 34 0.0% 0 0.0% 31 0.0% Uniforms 466 0.1% 200 0.0% 562 0.1% 740 0.4% 858 0.6% 817 0.6% Utilities - Electric 2,872 0.4% 3,443 0.6% 3,272 0.5% 209 0.1% 225 0.2% 198 0.1% Utilities - Trash Removal 836 0.1% 900 0.2% 794 0.1% 7,083 3.9% 8,212 6.0% 6,151 4.5% TOTAL OTHER EXPENSES 28,897 4.4% 33,465 5.7% 30,433 4.9% 10,252 5.7% 1,725 1.3% 7,968 5.8% DEPARTMENTAL PROFIT/(LOSS) 34,316 5.2% 13,062 2.2% 32,343 5.2% 15

THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. MISCELLANEOUS DEPARTMENTAL PROFIT & LOSS January 31, 2017 M-T-D M-T-D M-T-D Y-T-D Y-T-D Y-T-D ACTUAL BUDGET LAST YEAR ACTUAL BUDGET LAST YEAR MISCELLANEOUS REVENUE 66,960 7.6% 66,282 7.9% 66,073 8.1% Dues - Debt Financing 266,678 0.0% 265,129 0.0% 265,782 0.0% 1,030 0.1% 858 0.1% 950 0.1% Dues - Pool Membership 3,776 0.0% 3,433 0.0% 3,988 0.0% 165 0.0% 1,667 0.2% 2,725 0.3% Finance Charges 3,703 0.0% 6,667 0.0% 6,039 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% 2,850 0.3% Realty Office Rent 10,900 0.0% 10,900 0.0% 11,100 0.0% 20,000 2.3% 16,250 1.9% 16,250 2.0% Lease Processing Fee 28,250 0.0% 30,250 0.0% 30,250 0.0% 46 0.0% 25 0.0% 68 0.0% Miscellaneous Income - Transmitters 283 0.0% 100 0.0% 378 0.0% 597 0.1% 417 0.0% 567 0.1% Miscellaneous Income 1,966 0.0% 1,667 0.0% 1,430 0.0% 335,838 38.0% 335,742 39.9% 327,884 40.2% Dues - Operating 1,344,369 0.0% 1,342,968 0.0% 1,314,971 0.0% 0 0.0% 0 0.0% 0 0.0% Owner Fees - Discounts (120) 0.0% 0 0.0% (100) 0.0% 650 0.1% 833 0.1% 1,850 0.2% Owner Transfers Fees 2,800 0.1% 3,333 0.0% 6,350 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% 428,011 48.5% 424,799 50.5% 419,217 51.5% TOTAL MISCELLANEOUS REVENUE 1,662,605 37.9% 1,664,447 39.4% 1,640,188 32.5% 16

THE LANDINGS YACHT, GOLF & TENNIS CLUB INC. ADMINISTRATION & GENERAL DEPARTMENTAL PROFIT & LOSS January 31, 2017 M-T-D M-T-D M-T-D Y-T-D Y-T-D Y-T-D ACTUAL BUDGET LAST YEAR ACTUAL BUDGET LAST YEAR WAGES & BENEFITS 34,386 3.9% 33,688 4.0% 32,762 4.0% Salaries & Wages 135,200 4.2% 130,199 4.1% 127,905 4.1% 5,224 0.6% 4,615 0.5% 4,982 0.6% Payroll Burden 17,030 0.5% 17,837 0.6% 19,906 0.6% 1,770 0.2% 2,226 0.3% 2,199 0.3% Group Insurance 7,045 0.2% 8,902 0.3% 8,894 0.3% 3,250 0.4% 3,250 0.4% 960 0.1% Bonus 13,736 0.4% 13,000 0.4% 30,575 1.0% 1,757 0.2% 2,100 0.2% 1,680 0.2% Vacation/Holiday 6,331 0.2% 7,700 0.2% 7,139 0.2% 0 0.0% 0 0.0% 272 0.0% Miscellaneous 342 0.0% 500 0.0% 812 0.0% 46,386 5.3% 45,879 5.5% 42,854 5.3% TOTAL WAGES & BENEFITS 179,684 5.6% 178,139 5.6% 195,477 6.3% OTHER EXPENSES 6,000 0.7% 6,000 0.7% 10,000 1.2% Audit/Tax Prep 24,200 0.8% 24,200 0.8% 30,000 1.0% 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 0.8% Accounting Fees 24,700 0.8% 24,700 0.8% 26,000 0.8% 1,500 0.2% 1,500 0.2% 1,500 0.2% Bad Debt 6,000 0.2% 6,000 0.2% 6,000 0.2% 687 0.1% 3,665 0.4% 798 0.1% Bank Fees 2,933 0.1% 6,060 0.2% 2,870 0.1% 287 0.0% 260 0.0% 252 0.0% Cable TV 985 0.0% 1,040 0.0% 1,002 0.0% 0 0.0% 0 0.0% 1 0.0% Cash (Over) / Short (2) 0.0% 0 0.0% 1 0.0% 1,156 0.1% 1,110 0.1% 1,110 0.1% Credit Card Discount Fees 2,253 0.1% 2,431 0.1% 2,431 0.1% 328 0.0% 0 0.0% 0 0.0% Decorations 1,138 0.0% 1,900 0.1% 0 0.0% 0 0.0% 0 0.0% 0 0.0% Donations 0 0.0% 0 0.0% 0 0.0% 82 0.0% 125 0.0% 349 0.0% Dues & Subscriptions 832 0.0% 850 0.0% 596 0.0% 561 0.1% 1,441 0.2% 1,453 0.2% Leased Equipment 4,572 0.1% 5,764 0.2% 5,812 0.2% 1,692 0.2% 1,917 0.2% 1,558 0.2% Legal Fees 9,756 0.3% 7,667 0.2% 4,505 0.1% 228 0.0% 280 0.0% 497 0.1% Licence & Fees 1,121 0.0% 1,870 0.1% 1,802 0.1% 2,104 0.2% 1,535 0.2% 1,512 0.2% Maintenance Contracts 7,222 0.2% 6,140 0.2% 6,669 0.2% 1,323 0.1% 650 0.1% 58 0.0% Maintenance & Repairs 6,027 0.2% 2,600 0.1% 1,448 0.0% 4,500 0.5% 600 0.1% 67 0.0% Meals & Entertainment 9,011 0.3% 6,400 0.2% 7,624 0.2% 328 0.0% 0 0.0% 0 0.0% Member Relations 712 0.0% 0 0.0% 106 0.0% 0 0.0% 100 0.0% 83 0.0% Miscellaneous 56 0.0% 400 0.0% 1,651 0.1% 2,052 0.2% 2,199 0.3% 2,046 0.3% Office Expense 9,652 0.3% 8,447 0.3% 8,488 0.3% 194 0.0% 125 0.0% 121 0.0% Operating Supplies 194 0.0% 500 0.0% 121 0.0% 0 0.0% 0 0.0% 0 0.0% Pest Control 0 0.0% 0 0.0% 0 0.0% 946 0.1% 1,155 0.1% 1,087 0.1% Postage 5,362 0.2% 4,620 0.1% 5,178 0.2% 447 0.1% 2,295 0.3% 338 0.0% Printing 1,919 0.1% 3,030 0.1% 1,986 0.1% 0 0.0% 250 0.0% 12 0.0% Promotions 106 0.0% 1,100 0.0% 588 0.0% 934 0.1% 450 0.1% 677 0.1% Storage 4,160 0.1% 1,800 0.1% 2,709 0.1% 1,041 0.1% 920 0.1% 895 0.1% Telephone 3,934 0.1% 3,680 0.1% 3,742 0.1% 0 0.0% 0 0.0% 0 0.0% Training 0 0.0% 0 0.0% 0 0.0% 276 0.0% 150 0.0% 150 0.0% Travel Expense 400 0.0% 600 0.0% 337 0.0% 0 0.0% 25 0.0% 15 0.0% Uniforms 15 0.0% 100 0.0% 15 0.0% 32,840 3.7% 32,927 3.9% 31,076 3.8% TOTAL OTHER EXPENSES 127,256 4.0% 121,899 3.8% 122,207 3.9% 79,226 9.0% 78,806 9.4% 73,930 9.1% DEPARTMENTAL EXPENSE 306,939 9.5% 300,038 9.5% 317,683 10.2% 17