Thanksgiving is my favorite time of the year as we get to pause for a moment and be thankful for all the blessings in our lives. One of the blessings we have in Shipyard is that we actually have a Board of Directors that work together to blend their interests and get things done for the betterment of the entire community. This is a rare dynamic in community associations and something that benefits everyone because we get things done instead of arguing about getting things done. We just finished the budgeting process for 2020, and the Executive/Finance Committees unanimously approved a 2.1% increase for 2020 and the Board subsequently endorsed that recommendation. This means that you will receive a $20.00 annual increase which basically covers the labor increases needed to keep competitive and the funds to handle property and medical insurance increases. The total increase in projected expenses is 2.95%, but additional revenues in cell tower income, decal revenue, and cable franchise income are paying 40% of that increase and the owners are paying 60%.
We are on track to end the year within budget, with a less than 1% deductible, and a banner year in real estate sales. Shipyard is an attractive alternative for people as we are the most cost-effective beach community that is well-maintained and has a sense of community through the Beach Club.
Your staff is working hard to keep up with needed maintenance initiatives through the offseason, and we appreciate your patience as we try to get this work accomplished before year-end.
Have a wonderful Thanksgiving with your families and know that your Shipyard family cares not only for you but also making Shipyard a place where people want to visit and live.