Leakage around steering arm
 

I noticed today that just below the steering arm, recessed into the pocket in the transome, Ive got a small amount of water on the horizontal, flat surface "just below the steering arm". It's only enough to cause a drip while sitting at the dock but never the less it's still there. Can someone tell me what could be leaking and what kind of project it might be to replace that seal? By the way, this is on a Bravo One we are talking about. Thanks