Each year, in accordance with our By-laws, the Board of Directors establishes an annual budget for the Sky Harbour Homeowners’ Association (SHHOA). The budget process is fairly simple as we have a small community to sustain with just under one hundred and five thousand dollar budget for all community expenses, including utilities and common area maintenance.
With the same annual assessments for the ninth year in a row, the 2017 Budget supports our continuous commitment to the maintenance and upkeep of our common areas that has set our community apart from most others in the local area. Further, our Reserve Fund is funded each year and held in reserve for projected, future repairs and maintenance projects as well as any other extraordinary expenses, such as hurricane clean-up or major repairs to some of our amenities . It is designed to help ensure the Association does not need to impose special assessments to maintain or restore community assets when unusual demands are placed on the Association’s finances. Our Reserve Fund remains strong, uncompromised, and ready for its intended use.
The FY17/18 Budget was proposed during the July 16 SHHOA Board Meeting. Additional supporting information was requesed and will be presented during the August meeting.
If you would like more information on the budget or the budgeting process, please contact any member on the Board of Directors.