1. 2017 ANNUAL MEETING TREASURER’S REPORT

2. 2016 Results vs. Budget for ongoing operations
ACTUAL
BUDGET
VARIANCE
Revenues
$13,004,521
$13,170,627
($166,111)
Expenses
$12,613,747
$13,170,367
($556,620)
**Excludes revenue and expenses related to Hurricane Matthew
2017 ANNUAL MEETING TREASURER’S REPORT

3. Hurricane Matthew Financial Impact
Clean-Up Expenses $527,014
Structural Repairs and Renovations $826,690
Projected Cost of Matthew $1,353,704
Supplemental Hurricane Assessment $1,127,317
2017 ANNUAL MEETING TREASURER’S REPORT

4. 2016 Operating Expenses $9,139,263 Excluding Hurricane Matthew
2017 ANNUAL MEETING TREASURER’S REPORT

5. Major Repair and Replacement Revenue
2017 ANNUAL MEETING TREASURER’S REPORT

6. 2016 MRR Expenses $3,516,306 Excluding Hurricane Matthew
2017 ANNUAL MEETING TREASURER’S REPORT

7. MRR Cost Savings Efforts
Spincasting Drainage Repair
In 2015, spincasting saved more than $330,000 over 1,486 feet of pipe.
54-inch-diameter - 94% complete with this diameter of pipe - one 110-foot pipe run remaining.
48-inch-diameter - 50% complete – 2,088 feet of pipe remaining.  
42-inch-diameter - 32% complete – 2,502 feet of pipe remaining
2017 ANNUAL MEETING TREASURER’S REPORT

8. MRR Cost Savings Efforts
Road Rejuvenation
Projected savings > $10 million
Faster – 60 miles of Kiawah done in three years
Extends life of roadways
2017 ANNUAL MEETING TREASURER’S REPORT

9. MRR Revenue/Expense Comparison
Y/E Reserve $7.1 M $8.1 M $8.7 M $7.9 M $7.1 M $7.0 M
2017 ANNUAL MEETING TREASURER’S REPORT

10. Future Major Repairs and Replacements
Estimated
Replacement Replacement Reserve Balance Lives Costs
Street repair, resurfacing years ,295,420
Off-road drainage system years ,039,703
Buildings and structures:
Security gate house # years ,357
Maintenance facility years ,886
Boardwalks years ,477,657
Walking bridges years ,273,182
Roadway bridges years ,497,217
Observation towers years ,080
Revetments/bulkheads years ,298
Docks years ,920
Rhetts' Bluff facility years ,191
Canoe/Boat launch and pavilion years ,461
Sandcastle recreation center years ,696,482
Administrative Building years 1,575,000
Irrigation years ,047
Signage years 1,489,534
Railings years ,305
$ 51,780,740 $ 6,716,406
Security gate house - second gate years , ,527
Preserve split rail fence years , ,368
Totals $ 51,853,194 $ 7,092,301
Component
2017 ANNUAL MEETING TREASURER’S REPORT

11. 10-Year Projection for MRR
MRR expenses $30,312,249
Projected revenue from property sales (CTR)$15,603,352
Commercial Access Fees designated for MRR $5 million
The other $10 million?
2017 ANNUAL MEETING TREASURER’S REPORT

12. 2017 ANNUAL MEETING TREASURER’S REPORT
Ranked Kiawah Island No. 13 Places to Buy a Second Home, Barron’s (2015)
No. 1 Island in North America and No. 2 Island in the World - Condé Nast Traveler (2014)
No. 5 Island in North America - Travel + Leisure (2014)
Happiest Seaside Town - Coastal Living (2012)
2017 ANNUAL MEETING TREASURER’S REPORT