SINGLE FAMILY 2 BOARD UPDATE
November 2021
Budget The draft Budget breakout for FY2022 is included in this package. It reflects a $40 per month increase in our monthly fees. The board has directed our management company to include a separate line item column on the spread sheet in order to clarify to each of our 80 owners in SF2 the cost per unit per month that each of us contributes for each line item on the sheet. This Budget reflects an increase in spending in the amount of $38.4K over last year’s Budget. The bulk of this increase ($36.1K or $37.60 per month) is attributed to a $23K increase to the Associations Insurance package, an $8.3K required increase for our painting reserves, and a $4.8K increase in your Master Board fees. The remaining increase in your monthly fee ($2.40) is dispersed in the Maintenance Expenses line items. Please take the time to review this budget spread sheet. It gives you a clear picture of just where your money is going.
Landscaping Our new landscape vendor has been working out very well. We’ve replaced approximately 10,000Sf of defective sod. A deep hard trim has been completed to all our shrubs and bushes. The grounds trees (both large & small) have received a much need aggressive trimming. Several trees deemed a potential hazard and/or suffering from diseases have been removed. Additional sod is scheduled to be planted in areas where these trees have been removed. The proposed 2022 Budget supports the funding required to complete our sod restoration program.
Irrigation All of the Associations grounds older sprinkler time clocks have been replaced with modern Wi-Fi capable time clocks. The systems older pump pressure tanks have also been replaced. Our new Sprinkler vendor is currently contracted to service pump areas 13 & 14 (a total of 52 homes). We’re currently in the process of incorporating the final pump area (Pump 12 – 28 homes) into the vendors’ contract in accordance with the plan laid out in this year’s Budget cycle. Our vendor has been performing repairs in the Pump 12 area as required and/or requested on an ongoing basis in order to keep the system up to date and functional. He is currently on a Bi-weekly site visit schedule.
Roofs Over the summer 9 roofs were replaced. FY2022 calls for an additional 13 roofs to be replaced. Our 20 year roof replacement program is on schedule. The current plan is for this Board to solicit bids for the 13 roofs, and have them lined up and ready to be awarded as soon as practical once the FY2022 budget is approved and the FY2021 close out figures are reconciled.
House Painting Our homes currently are on a 12 year cycle for painting. Implementation is scheduled to commence over a 3 year period beginning in FY2024. The schedule calls for 29 homes to be painted in 2024, 28 homes to be painted in 2025, and the remaining 23 homes to be painted in 2026. In today’s market and fiscal climate, we can reasonably expect to pay somewhere between $3K – $3.5K per unit for repairs, prep, and painting. This is a significant increase from what it would have cost just a few short years ago for house painting. The Board prepared a 5 year funding projection model for painting reserves with the goal being to avoid a special assessment in the future. The model identified that our painting reserves were grossly underfunded and, without immediate action, a special assessment would be required in order to complete painting all 80 units as scheduled. In order to avoid a special assessment, a decision was made to increase the monthly per unit painting reserve contribution by 57%.
General Sandcastle Property Management and Brokerage (SCPM) manages the affairs for the SF2 Association via authorization from the SF2 Board of Directors (BOD). Services provided include Administrative Coordination; overseeing services for maintenance and all required repairs on SF2 common property; assisting in rules enforcement; processing of maintenance fees; and completion of other tasks the BOD deems necessary. Matt Deavers is the SCPM CAM who coordinates all Association services and management. Matt’s email is matt@sandcastlepmb.com. SF2 maintains a dedicated web page (currently being upgraded) on the SCPM website. To access the SF2 web page on the internet, go to www.sandcastlepmb.com ,click on “OUR ASSOCIATIONS”. Go to “Cinnamon Cove Single Family Condominium II Association Inc” and click on “WEBPAGE”. This will bring you to a section dedicated solely to SF2. There you can review and print a host of documents and forms which are critical to the successful operation of your Association. Please familiarize yourself with the information available on this web page. It identifies a defined process for you to utilize in order to have the association address your concerns. Everyone’s cooperation in utilizing the defined process is necessary in order for us to maintain a smooth functioning accountable organization.
Pat Murdick, SF2 President