Kiawah Island Community Association, Inc.
Consolidated Funds Summary
2006 Budget
		2006	2006	2006	2006	2006	2006	2006	2006
		General	Recreation	Fence	Vanderhorst	L C I	M R & R	Property	All Funds	2005	2005
		Fund	Fund	Fund	Gate Fund	Fund	Fund	Fund	TOTAL	Projections	Budget
Revenues
	Assessments	$4,409,332	$334,892	$1,800	$183,702	$0	$0	$0	$4,929,726	$4,745,393	$4,708,669
	Interest Income	$80,000	$8,000	$675	$3,400	$0	$250,000	$0	$342,075	$315,709	$204,500
	Contribution to Reserves	$0	$0	$0	$0	$363,100	$1,452,400	$0	$1,815,500	$2,634,444	$1,672,000
	Commercial Access Fees	$763,000	$0	$0	$0	$0	$0	$0	$763,000	$762,188	$675,000
	User Fees	$97,425	$173,951	$0	$0	$0	$0	$0	$271,376	$262,025	$198,605
	Pool Initiation Fees	$0	$36,225	$0	$0	$0	$0	$0	$36,225	$35,678	$32,576
	Other Income	$64,700	$2,600	$0	$0	$0	$0	$0	$67,300	$47,373	$44,556
	Total Revenues	$5,414,457	$555,668	$2,475	$187,102	$363,100	$1,702,400	$0	$8,225,202	$8,802,808	$7,535,906
Expenses
	Payroll Expenses	$3,077,705	$282,319	$0	$119,381	$0	$0	$0	$3,479,405	$3,068,559	$3,324,957
	Building/Equipment R/M	$115,027	$96,835	$0	$11,645	$0	$0	$0	$223,507	$197,739	$204,446
	Common Area Maintenance	$669,125	$26,750	$600	$6,500	$0	$0	$0	$702,975	$579,903	$611,468
	Administrative Expense	$1,184,628	$172,465	$0	$30,379	$161,300	$540,700	$0	$2,089,472	$1,774,403	$2,017,686
	Special Events or Projects	$1,700	$10,750	$0	$0	$0	$0	$0	$12,450	$14,527	$16,770
	Capital Equipment Purchases	$49,563	$1,500	$0	$0	$0	$0	$0	$51,063	$114,385	$68,438
	Capital Projects - Landscape	$0	$0	$20,000	$0	$150,500	$0	$0	$170,500	$145,695	$140,000
	Capital Projects - MRR	$0	$0	$0	$0	$0	$2,984,411	$0	$2,984,411	$2,591,945	$3,696,543
	Depreciation	$0	$0	$0	$0	$0	$0	$300,000	$300,000	$297,826	$300,000
	Interest Expense	$0	$0	$0	$0	$0	$0	$0	$0	$21,000	$21,000
	Income Tax Expense	$20,000	$2,800	$175	$750	$0	$59,000	$0	$82,725	$51,725	$40,675
	Gains/Losses on Disposal of Assets	($1,000)	$0	$0	$0	$0	$0	$0	($1,000)	($3,179)	($6,000)
	Total Expenses	$5,116,748	$593,419	$20,775	$168,655	$311,800	$3,584,111	$300,000	$10,095,508	$8,854,528	$10,435,983
	NET SURPLUS/(DEFICIT)	$297,709	($37,751)	($18,300)	$18,447	$51,300	($1,881,711)	($300,000)	($1,870,306)	($51,720)	($2,900,077)
	Community Program Support	($75,000)	$75,000						$0
	Depreciation Reserve	($145,000)	($25,000)						($170,000)
	ADJUSTED NET SURPLUS/(DEFICIT)	$77,709	$12,249	($18,300)	$18,447	$51,300	($1,881,711)	($300,000)	($2,040,306)
	PROJECTED FUND BALANCE at 12/31/05	$2,278,233	$343,995	$17,941	$92,658	$7,577,814		$3,550,000	$13,860,641
	2006 Surplus/Deficit w/o Depreciation Reserve	$222,709	$37,249	($18,300)	$18,447	($1,830,411)		($300,000)	($1,870,306)
	PROJECTED FUND BALANCE at 12/31/06	$2,500,942	$381,244	($359)	$111,105	$5,747,403		$3,250,000	$11,990,335
	COMPONENTS OF FUND BALANCE
	Funded Depreciation	$931,427	$195,203						$1,126,630
	Contingency	$500,000	$60,000						$560,000
	2006 Surplus/(Deficit)	$222,709	$37,249	($18,300)	$18,447	($1,830,411)		($300,000)	($1,870,306)
	Prior Years' Surplus set aside for Reserves	$0	$0	$17,941	$92,658	$7,577,814		$3,550,000	$11,238,413
	Prior Years' Surplus available for contingency	$846,806	$88,792						$935,598
	TOTAL FUND BALANCE	$2,500,942	$381,244	($359)	$111,105	$5,747,403		$3,250,000	$11,990,335