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2/13/2023 10:34:05 AM
 
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Section 5: OPA Board Subject: Too Much Money Msg# 1182238
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| The DMA study nor the legislation gives a recommendation as to the percentage. At the Town Hall there was a discussion regarding full funding analysis and hitting our target reserve 28/29 at 42%. Doug Parks who has been in agreement with B&F's recommendations, did say there should be a discussion to decide at what point is OP over funded in reserves. | ||||||
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For reference, the above message is a reply to a message where: 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? |
| Calendar |
OPA Board Meeting - Golf Clubhouse
5/24/2025 - 9:00 A.M. |
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OPA Board Meeting - Golf Clubhpuse
6/28/2025 - 9:00 A.M. |
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OPA Board Meeting - Golf Clubhouse
7/26/2025 - 9:00 A.M. |
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Annual Meeting - Assateague Room
8/9/2025 - 9:00 A.M. |