Revenue Increase Since Construction Starky Lodge 256 Kimball Lodge 153 Spoonbill Renovation Cost amp Revenue Total Construction Cost 585141 Revenue Generated Yearly 207326 Pay Off Period ID: 761460
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Revenue Increase Since Construction Starky Lodge – 25.6% Kimball Lodge – 15.3%
Spoonbill Renovation Cost & Revenue Total Construction Cost $585,141 Revenue Generated Yearly $207,326 Pay Off Period 2.8 Years
Treasurer’s Report for Fiscal Year 2013-2014 Record Year For Revenue Record Year for Investment
10 Year Forecast for Cash Flow and Debt Reduction
Investment Breakdown Starky Lodge Renovation $800,000 Kimball Lodge Room Renovation $2,000,000 Other Various Infrastructure $50,000
Size, Scope ands Logistics Until Fiscal 2013-2014 all improvements funded from cash flow To fund Starky and Kimball renovations from cash flow would have kept the resort under construction for years Logistically impossible as buildings had to be shut down It had to be done all at once in 60 days
Need For Financing Because of the size and scope of the projects we had to finance a portion Construction line acquired for $2.38M $470,000 of Company cash invested
Repayment Terms Principle Reductions of $250,000 per year Loan repaid in just under 9 years Rebuilding cash by approximately $500,000 per year at the same time
10 Year Forecast for Cash Flow and Debt Reduction
Financials All financials are posted to the shareholder page timely www.islandinnsanibel.com Shareholder page link lower righthand corner of home page Username: sanibel Password: island
Audit Procedures All financials are review by the Audit Committee, Executive Committee and full Board of Directors monthly Reports are reviewed and compiled by Leon Goldsmith CPA quarterly and annually Hard copy and electronic audit trail of every single transaction
10 Year Forecast for Cash Flow and Debt Reduction