Sections 2202 and 2211 of the Delaware Unit Property Act require that all condominium associations created under the act must establish and retain a Reserve Fund able to pay for repairs to and replacement of long range capital assets such as roofs, sidewalks, driveways, parking areas, elevators, systems, heating and cooling units and other larger scale capital equipment that wears down over time.  The statutes further require that each condominium association engage professionals (usually engineers)  to perform a reserve study to identify and analyze the capital assets, estimate their useful life, and project the time and cost of their replacement. Once those projected future costs are known, the condominium association is required by statute to fully fund those estimated costs by adding annual assessments to the unit owners in the annual budget.