Useful Information

If you are interested in applying fot this position, please contact Board President Robert Stuart at 800-824-6462 or rstuart@sugsands.com.  You should do this by July 15, 2009.

We thank Don for his great service and wish him all the best..

Sugar Beach has entered into a contract with Patrick McIntosh to be its new property manager.  Elizabeth Kuhlman and Sugar Beach have parted ways.  We thank her for her service and wish her well.  Owners will soon be receiving more information about Mr. McIntosh.  

For those of you familiar with the latest in computer networking, check out the Sugar Beach page on Facebook.   Go to http://www.facebook.com.  You have to sign up and then search for Sugar Beach. 

If you're not familiar with how to do this, ask your kids or grandkids.  They'll tell you all about it. 

  The sand dunes and sea oats play a vital role in protecting the beach and the buildings behind them.  Please don't walk on them.  This increases beach erosion and is a factor in the destruction of the dunes.

Click here to view copies of Sugar Beach's financial reports.  Note soon this directory is now password protected.  Owners will be mailed their user name and password.  If you wish immediate access, please email the webmaster your email address and the unit you own. 

As of May 31, 2009, we had cash on hand of $782,371.15.  This is an 36.46% increase over cash on hand May 31, 2008, and a 56.35% increase over January's $531,767.52.   Note much of the cash on hand is needed to pay outstanding obligations,e.g, the SBA loan, maintenance for the complex, etc.  

Cash on Hand	2008	2009
January	$531,767.52	$500,394.48
February	$610,626.67	$643,505.76
March	$636,483.85	$737,977.71
April	$614,248.03	$764,928.99
May	$573,337.67	$782,371.15
June	$597,213.98
July	$663,442.29
August	$567,121.80
September	$574,496.45
October	$605,550.82
November	$602,314.63
December	$400,160.94

This does not include assessments receivable, i.e, money owed the Association, which came to $ 102,192.79 in May, 2009. 

Accounts Receivable (assessments only)	2008	2009
January	$212,939.60	$370,805.63
February	$141,433,27	$216,990.17
March	$121,860.22	$118,588.53
April	$108,024.59	$109,265.39
May	$107,047.13	$102,192.79
June	$ 95,380.29
July	$ 95,056.64
August	$ 94,530.75
September	$ 78,814.97
October	$ 79,510.50
November	$ 79,135.76
December	$ 78,078.56

In May  2009, assessments receivable have DECREASED 4.53% from May 2008 and decreased 72.44% from January 2009.   The trend is in the right direction.

We continue to work on collecting the remaining delinguent dues owed the Association. 

In 2008 the Association earned $ 11,099.16 in interest.   See table for monthly figures

Interest Earned	2008	2009
January	$   689.20	$ 182.99
February	$   784.28	$ 553.20
March	$   939.79	$ 204.72
April	$   788.48	$ 198.96
May	$   679.34	$ 854.94
June	$ 4352.31
July	$   602.29
August	$ 1248.60
September	$   618.69
October	$   559.57
November	$ 1051.64
December	$  517.68

 

Owners and guests should not dispose of bulk items at the dumpsters.  That means don't dump your old tables, chairs, sofas, etc. at the dumpster.  The rule of thumb is if it does not fit through the dumpster opening, it SHOULD NOT be left at the dumpster.  If you have such bulk items to dispose of, contact, the property manager, on how to dispose of them. 

As you know, Sugar Beach has worked hard to make the financial impact of IVAN and KATRINA on owners as painless as possible.  That is why owners have the option of paying off the 2005 special assessment over a 2 year period, i.e, with 8 quarterly payments.  However some owners are not current with their payments.  Some owners have made no payments or only 1 or 2 payments.   A notice will shortly go out informing all owners that if they are not current with their payments liens will be placed against their units.  This is not a step we take lightly.  We are well aware of the financial hardship imposed by the special assessment.  But it is also unfair to other owners who are making timely payments. 

Your Board requests that owners not place aluminum foil in the hallway windows of their units.  The property manager will be checking windows for this practice and contacting owners that are not compliant with the standard window treatments.  Standard window treatments are blinds, shutters, curtains, drapes, and sheers.  Whatever you use, the surface showing in the hallway should be white or off white.  Many owners use mini-blinds or plantation-blinds.  Note if you chose to use blinds, considerable savings can be had if two standard size blinds (side by side) are used in place of one large blind that usually must be custom ordered. 

The cost of insurance in 2009 is $275,999.62.  This compares favorably with last years premium of $275,000.   This year's premium actually includes 18 months coverage for some items to that all coverages are now renewable at the same time.
 
There is also a assessment of $140, 523.23 for capital improvements.  This includes such things as the dranage system at the north and south ends of Sugar Beach, completion of the Sugar Shack, replacement of damaged balcony storage doors, replacement of damaged entry doors, installation of new fire doors on some on the common area walkways, retainage of CSharpe for paint and waterproofing, and coating of pool decks, among other things.  This does not include the entire cost of repainting and waterproofing the complex.  d - The premium still has to be paid and as agreed at the annual meeting it is all being paid by a special insurance assessment. 

The insurance special assessment by unit size is as follows: