The Official Publication of the Kiawah Island Community Association
December 2018
D I G E S T
ASSOCIATION
FINANCES
T
Board of Directors Approves
2019 Budget
he 2019 KICA Budget was approved at the Nov.
5 board meeting after months of work by staff
and the Finance Committee.
KICA’s budget consists of two discrete budgets, the
operating and the reserve. Principally, the operating
budget covers expenditures that are routine and
predictable. The reserve budget covers expenditures for
more durable infrastructure, focusing on major repairs
or replacement projects.
The association’s largest expense, personnel, is funded
through the Operating Budget. Wage pressure in the
market means this expense alone necessitated a 4.6
percent increase in funding over the last year.
In addition to providing for the association’s daily needs,
the 2019 budget includes some important highlights.
Property owners have asked for more stringent
regulation of those who use the public facilities while
balancing the need to keep things moving at the Main
Gate. To meet this goal:
• Two additional positions will allow the expansion
of the pass office. All island visitors without a pass
will be directed to a new pass office at Beachwalker
Center, where they will go through the same
procedure as commercial customers.
• Updated software and license plate scanners will
allow Security to track who should and should not
be on the island.
It also provides for the increased administrative expense
of retaining Cru Catering to operate the Castle Grille
(an expense expected to be offset by increased revenue),
and technology upgrades to enhance streaming
capabilities.
Assessments are deeply tied to the association’s budget.
2019 assessments, which are emailed to members shortly
before the end of the year, will increase by slightly more
than 9 percent. In 2018, there was no increase in the
general or reserve assessment from the prior year.
Learn more about the KICA budget by visiting kica.
us/finances. There you will find the 2019 Budget
spreadsheet, COO Jimmy Bailey’s budget presentation
to the board and more general financial information.