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5.A1 Operations & Management Agreement
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01-15-10 Packet
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5.A1 Operations & Management Agreement
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d. Prepare a daily report of Golf Course cash receipts in all revenue categories. <br />e. Provide appropriate cash controls, including reviews and comparisons of daily <br />bank deposits against cash register tapes, tee sheets and daily revenue reports, and <br />periodic spot audits of on-site cash control measures. <br />f. Maintain the chart of accounts and general ledger for Golf Course. <br />g. Balance all accounts and maintain the balance sheet for Golf Course. <br />h. Prepare monthly profit & loss statements and other financial statements and <br />reports as are requested by Owner or by any Golf Course first mortgage lender <br />requiring the same (provided, however, that all financial statements and reports <br />shall be prepared by Manager's personnel and any audited or certified financial <br />statements or reports prepared by outside auditors that may be requested by <br />Owner or any lender shall be prepared at Owner's expense). <br />i. Conduct monthly physical count inventories in all departments of the Golf Course, <br />and match physical inventory reports to point of sale reports and delivery tickets. <br />j. Reconcile each bank statements on a monthly basis. <br />k. Prepare and file all documents necessary to meet Owner's obligations with <br />respect to local, state and federal tax filings, licenses, franchise fees, etc. <br />1. Within seven (7) days following the close of each month, provide to Owner <br />monthly financial reports, which shall include ayear-to-date report indicating <br />actual income and expenses compared to budgets for such period. Any <br />substantial variance of actual income and expenses from the Annual Operating <br />Budget shall be explained in the report. <br />7.3 Consulting Services. In addition to the operations management services <br />described herein, Manager also shall provide consulting services to owner in the areas of <br />market analysis and long-range strategic planning relative to the Golf Course. In general, <br />consulting services to be provided by Manager shall include, but may not necessarily be <br />limited to, the following: <br />a) Conduct market research and prepare a written analysis of the South Bend golf <br />market, with emphasis on public golf and market factors most affecting the Golf <br />Course;. <br />b) Prepare reports and facilitate planning meetings.; <br />c) Identify and evaluate alternative long-range strategy options; <br />-15- <br />
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