The 2013 Condo Association Annual Meeting took place Saturday, October 5, 2013 at the Christian Life Church, 25530 Canal Road, Orange Beach. Several significant actions were taken. Among them:
ºDues will remain the same for 2014.
ºAn additional principal payment of $250,000 will be made to pay down the SBA loan.
ºThe membership approved a budget with an additional $250,000 special assessment for previous unassessed for capital improvements. Members will have until April, 2014 to pay this assessment and the insurance assessment.
ºTony Black, Tyler Glenn, and Allen Summerlin were elected to serve on the Board. Dave Dyer who has served the Association as Treasurer chose not to run for re-election. We thank him for his years of service.
Insurance Info
We have a new agent for insurance. Fisher Brown Bottrell is handling all policies for Sugar Beach. All Insurance questions should be directed to Kelli Worrell. She is handling the day to day account servicing. Her direct phone number is 601-960-7458. Her email address is kworrell@fbbins.com. If your mortgage company needs information about Sugar Beach’s insurance coverage, she is the person to contact.
Results of Tennis Court Survey
In case you missed Association Vice President Glenn Owen’s June 26, 2012 email:
This email is intended to update the owners of Sugar Beach on the results of the survey conducted to determine the level of interest in constructing a facility that would replace the tennis courts. A total of 38 unit owners responded to the survey. The results indicated 15 Interested, 10 Somewhat Interested, and 13 Not Interested. Only 2 surveys mentioned the cost of the facility as the reason for their lack of interest and several mentioned the view or desire for a garden in the tennis court area as their reason for lack of interest in the facility as previously presented. It would appear that the negative surveys are indicating a concern for the way the structure would look if constructed as presently proposed.
The highest rated areas of interest were the Meeting Space with a Kitchen and the Exercise Room. After looking at the tennis court area in light of these comments, it appears that a smaller structure (approximately 30×50 feet on 2 levels) could be built in front of the north elevator with a flat roof that would match the existing structure. The surface of the tennis courts that would not be affected by this structure could be made to look more presentable than the patched surface that presently exists.
The top level of this structure could be used as and Exercise Facility and On Site Manager’s Office with Restrooms and the lower level could be a 1500 square foot Meeting Space with a Kitchenette.
The highest rated areas of interest were the Meeting Space with a Kitchen and the Exercise Room. After looking at the tennis court area in light of these comments, it appears that a smaller structure (approximately 30×50 feet on 2 levels) could be built in front of the north elevator with a flat roof that would match the existing structure. The surface of the tennis courts that would not be affected by this structure could be made to look more presentable than the patched surface that presently exists.
The top level of this structure could be used as and Exercise Facility and On Site Manager’s Office with Restrooms and the lower level could be a 1500 square foot Meeting Space with a Kitchenette.
The Board is extremely interested in taking on efforts that will improve the value of our owner’s investments in Sugar Beach. However, we are very sensitive to the concerns of the owners regarding any of these proposals. We will continue to investigate the feasibility of the various options and will ensure that any concept has been thoroughly evaluated and adjusted to meet the concerns of our owners prior to presenting the concept for approval.
Glenn Owen
HOA Board Vice President
2013 Financial Reports
Click here to view copies of Sugar Beach’s financial reports. This directory is now password protected. Owners have been 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 September 30, 2013, we had cash on hand of $1,492,495.89. This includes reserves, funds for operations, and petty cash. This is an 31.31% increase over cash on hand September 30. 2012. This is the highest amount of cash on hand this decade. Note much of the cash on hand is needed to pay outstanding obligations,e.g, the SBA loan of $1,276,006.59 as of September 30th, maintenance for the complex, insurance premiums, etc. as well as to fund our reserves. The year to year increase is primarily as a result of there being no major maintenance work so far this year.. Cash on hand generally falls in the early part of the year because insurance premiums are paid but owners have until April to pay the special assessments that cover them.
| Cash on Hand | 2011 | 2012 | 2013 |
| January | $ 888,021.91 | $ 765,398,27 | $ 1,097,685.54 |
| February | $ 921,599.60 | $ 839,567.93 | $ 1,132,479.91 |
| March | $1,023,992.40 | $ 965,815.49 | $ 1,234,705.38 |
| April | $ 991,143.59 | $1,089,592.80 | $ 1,357,457.97 |
| May | $ 941,239.30 | $1,102,382.70 | $ 1,405,546.48 |
| June | $ 970,067,00 | $1,112,130.10 | $ 1,437,322.16 |
| July | $ 977,375.50 | $1,137,278.90 | $ 1,473,009.34 |
| August | $ 921,927,75 | $1,148,605.70 | $ 1,490,319.55 |
| September | $ 903,161.94 | $1,136,594.70 | $1,492,495.89 |
| October | $ 904,473.20 | $1,123,907.80 | $1,249,610.79 |
| November | $ 916,055.01 | $1,142,759.00 | |
| December | $ 704,050.32 | $ 937,571.49 |
The table above does not include assessments receivable, i.e, money owed the Association, which came to $ 10,476.15 as of September 30, 2013.
| Assessments Receivable | 2011 | 2012 | 2013 |
| January | $ 174,127.36 | $ 329,212,30 | $ 312,279.51 |
| February | $ 153,073.55 | $ 287,094.08 | $ 288,785.92 |
| March | $ 60.386.13 | $ 170,057.85 | $ 198,541.21 |
| April | $ 37,563.64 | $ 57,207.10 | $ 81,493.33 |
| May | $ 34,955.35 | $ 42,484.05 | $ 49,767.99 |
| June | $ 26,351.30 | $ 35,656.59 | $ 31,850.48 |
| July | $ 13,191.56 | $ 28,201.87 | $ 26,092.95 |
| August | $ 8,038.78 | $ 19,703.44 | $ 16,678.85 |
| September | $ 8,702.91 | $ 20.430.16 | $ 10,476.15 |
| October | $ 7,212.68 | $ 24,363.79 | $ 29,791.18 |
| November | $ 6,944.35 | $ 16,289.45 | |
| December | $ 9,960.70 | $ 17,060.06 |
Note: Assessments receivable generally increase in January because the insurance assessment has been assessed, but owners have a number of months to pay it.
We continue to work on collecting the remaining delinquent dues owed the Association.
The interest income we have received has declined significantly. This is do to the decline in interest rates. See table for monthly figures.
| Interest Earned | 2011 | 2012 |
2013 |
| January | $ 1,653.29 | $ 171.79 | $ 171.23 |
| February | $ 354.46 | $ 167.64 | $ 190.84 |
| March | $ 441.01 | $ 191.51 | $ 249.70 |
| April | $ 445.67 | $ 246.33 | $ 283.82 |
| May | $ 422.91 | $ 222.99 | $ 266.98 |
| June | $ 411.54 | $ 199.87 | $ 236.49 |
| July | $ 427,54 | $ 206.79 | $ 253.27 |
| August | $ 425.09 | $ 191.75 | $ 233.52 |
| September | $ 424.91 | $ 280.44 | $ 181.31 |
| October | $ 411.67 | $ 208.58 | $ 168.66 |
| November | $ 504.19 | $ 187.86 | |
| December | $ 240.19 | $ 144.77 | |
| Total | $ 6,142.47 | $ 2,417.32 | $ 2,235.82 |