4th Quarter Newsletter Edition-2019
Dear Ashley Marina HPR Member:
This newsletter has been posted online to myashleymarina.com.
2019 Annual Owners Meeting: December 5th, 6:00pm
Cash: As of 10/1/19 our total cash and cash equivalents are $1,606,934 of which $107,884 is Operating, and $1,499,050 is in Wells Fargo Money Markets. Reminder: $515k of reserves has been set aside for future dredging.
Accounts receivable of delinquent regime fees are:
$ 9.8K 31-60 day category
$ 22K 61-90 day category
$ 34K greater than 90 days and in collection status (liens and Small Claims Court actions in process)
If you are one of the above individuals, you need to address your financial responsibilities immediately!
Dredging: Solutions are still being investigated to keep costs down. Governmental permitting has put the process behind schedule.
Parking Lot: Estimate of $64k to repave and raise critical areas of the parking lot is under consideration.
Jetdocks: The Board received requests for a total of ten slips and permitting process is underway.
Replacement Fund: The Board is working on an estimated dollar amount and expected remaining life of full dock replacement. Funding options will be discussed at this year’s annual owners meeting.
Bike Bridge: News has come out of a new City of Charleston bike bridge parallel the existing route 17 drawbridges. The Board is looking into the details of the proposed bridge and how it will impact the marina.
Insurance: The increased minimum vessel insurance combined liability requirements of $500k will go into effect January 1, 2020. All policies must have coverage for pollution and salvage.
Any questions or issues can be directed to our marina staff at 843-722-1996, or Staff@AshleyMarina.com