Financial Performance An Overview by Rae Anne DeBonville Controller

BR HOA – Agenda Balance Sheet Income Statement Dues Allocation

BR HOA – Balance Sheet (In Thousands) 2016 2015 Assets Cash Accounts Receivable Inventories Other Due from Affiliates Property & Equipment, Net $ 945 6 153 178 13 4,104 $ 75 14 160 259 211 3,468 Total Assets $ 5,399 $ 4,187 Liabilities Accounts Payable Accrued Expenses Due to Affiliates Notes Payable Fund Balance $ 284 217 462 4,276 $ 223 220 341 3,403 Total Liabilities

BR HOA – Income Statement (In Thousands) 2016 2015 Variance Revenues Assessments Transfers Other $2,892 470 269 $2,966 293 179 -3% 60% 50% Total Assessments/Revenue $3,631 $3,438 6% Expenses Utilities Operations Administration Fixed Costs Insurance $1,048 1,534 636 97 316 $1,083 1,388 593 95 279 (3%) 11% 7% 2% 13% Total Expenses Net Operating Surplus $0 0%

Dues Allocation

BR Rental – Agenda Balance Sheet Income Statement Revenues Statistics Revenue by Type Revenue Performance

BR Rental – Balance Sheet (In Thousands) 2016 2015 Assets Cash & Cash Equivalents Accounts Receivable Inventories Other Due from Affiliates Notes Receivable – HOA $ 4,128 1,940 435 130 272 432 $ 4,936 1,437 395 103 372 308 Total Assets $ 7,337 $ 7,551 Liabilities Accounts Payable Owner Distribution Advanced Deposits Accrued Expenses Due to Affiliates Undistributed Rental Reserve $ 793 1,393 2,975 1,415 23 738 $ 550 1,407 2,652 1,498 476 968 Total Liabilities

BR Rental – Income Statement (In Thousands) 2016 2015 Variance Revenues Rooms Food & Beverage Other Total Revenues $ 17,940 7,229 2,598 $ 27,767 $ 17,143 6,849 2,505 $ 26,497 4.6% 5.5% 3.7% 4.8% Less Cost of Sales 2,329 2,194 6.2% Total Gross Profit $ 25,438 $ 24,303 4.7% Expenses General & Admin Fixed Costs Owner Distribution $ 4,483 3,078 3,735 3,760 9,832 $ 4,287 2,878 3,531 3,575 9,412 6.9% 5.8% 5.2% 4.5% Total Expenses $ 24,888 $ 23,683 5.1% Rental Reserve $ 550 $ 620 (11.3%)

BR Rental – Revenues Room Revenues FB Revenues Other Revenues

Average Food & Beverage Revenue per Room Night BR Rental – Statistics Average Food & Beverage Revenue per Room Night Room Nights Average Daily Rate

BR Rental – Revenue by Type

BR Rooms Revenue (in Thousands)