Delta Coves Maintenace Corporation’s (DCMC) board of directors reviewed the proposed DCMC budget for 2025. The process took place during the Oct. 9 open board meeting – both in person and virtually. Homeowners submitted their questions before the meeting.
Homeowner questions
Since the inception of Delta Coves Maintenance Corporation, how much has been saved in the reserve fund for all the items that have a useful life coming due in the next 25 years to be repaired or replaced?
As of August 2024, DCMC has $606,383.69 in the reserve accounts. The monthly financial packages posted on the resident website include an updated reserve account balance.
Please provide a list of identified items that are over $5,000.
The 2024 Reserve Study includes all forecasted lifespans, replacement, and maintenance costs – both over and under $5,000.
What is the estimated total cost of repair or replacement of assets and the estimated date of replacement?
All forecasted costs and replacement dates can be found in the entirety of DCMC’s 2024 Reserve Study.
Does DCMC have enough in the reserves that we are on-track to cover those items when they are expected to be repaired?
Yes, DCMC is allocating dues to meet reserve funding requirements.
How much has the maintenance budget increased?
DCMC’s maintenance (landscape and amenity maintenance) budget has increased from $407,070 in 2020 to $1,204,502 in 2024. The 2025 budget summary can be found on the resident website in January 2025.
Please provide a detailed list of the maintenance items, vendors, and costs.
DCMC assets requiring regular maintenance can be found in the annual budget – approved by the board of directors – and in the monthly financial packages.
Most association records can be inspected and copied by members upon written request. The association can then make the specified record(s) available for inspection and copying in the association’s business office (Civ. Code § 5200(c)).
Please provide estimated maintenance details of the Special Benefit Area homes docks, power, and water costs.
The Special Benefit Area budget can be found in the SBA annual disclosure. In 2024, the Special Benefit’s total operating expenses were $58,746. The 2025 SBA expenses will be published in the 2025 annual budget in January 2025. Owners are responsible for dock water and electricity usage costs.
What are the amenity docks estimated useful life?
DCMC’s common area dock’s remaining useful life estimates are listed on pages 6 and 50-52 within the 2024 Reserve Study.
What is the estimated start date and how many years left on the useful life since they were put in years earlier?
DCMC’s master developer, DMB Development, refurbished all docks beginning in 2019 through to present. As of 2024, estimated useful life ranges between 30 and 40 years. Found on pages 6 and 50-52 within the 2024 Reserve Study.
Where can I find more information?
Homeowners can access the 2024 Reserve Study, monthly financials, and current year board-approved budget on the resident website under Governance.
How can I stay up to date with community expenses?
The resident website contains links to the monthly financial package, as well as the current year budget and applicable reserve studies.