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2/12/2023 7:13:52 PM
 
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Section 5: OPA Board Subject: Too Much Money Msg# 1182233
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I believe this explains what percentage is being referenced.
Thanks. Still not sure what it tells us. Says the fully funded reserve amount is $22,281,323 every year through 28/29. The latest DMA references $38 million, not $22 million. 2021+Ocean+Pines+Association+Capital+Reserve+Executive+Analysis+11-23-2021.pdf DMA Reserve Study November 2021 Total Cost to replace almost everything = $92,140,619 Total Replacement Cost for Study Year = $38,243,912.00 25% of that = $9,560,978 40% of that = $15,297,565 Current reserves are what, around $8 or 9 million projected? What is needed here is for some EXPERT to explain to laymen, including each and every board member, what the heck all this means in plain English. Where do I find the DMA written recommended reserve amount that is required under the new law? |
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For reference, the above message is a reply to a message where: Click Here Sse last seven lines of this spreadsheet. I believe this explains what percentage is being referenced. |
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