Trout Creek Community Development District
www.troutcreekcdd.org

Adopted Budget for Fiscal Year 2020/2021 Presented by: Rizzetta & Company, Inc.

2806 N. Fifth Street Suite 403
St. Augustine, Florida 32084 Phone: 904-436-6270

rizzetta.com

Table of Contents

Page

General Fund Budget Account Category Descriptions	1	
Reserve Fund Budget Account Category Descriptions	7	

Debt Service Fund Budget Account Category Descriptions	8	
General Fund Budget for Fiscal Year 2020/2021	9	
Debt Service Fund Budget for Fiscal Year 2020/2021	11	
Assessments Charts for Fiscal Year 2020/2021	12	

GENERAL FUND BUDGET ACCOUNT CATEGORY DESCRIPTION

The General Fund Budget Account Category Descriptions are subject to change at any time depending on its application to the District. Please note, not all General Fund Budget Account Category Descriptions are applicable to the District indicated above. Uses of the descriptions contained herein are intended for general reference.

REVENUES:

Interest Earnings: The District may earn interest on its monies in the various operating accounts.

Tax Roll: The District levies Non-Ad Valorem Special Assessments on all of the assessable property within the District to pay for operating expenditures incurred during the Fiscal Year. The assessments may be collected in two ways. The first is by placing them on the County’s Tax Roll, to be collected with the County’s Annual Property Tax Billing. This method is only available to land properly platted within the time limits prescribed by the County.

Off Roll: For lands not on the tax roll and that is by way of a direct bill from the District to the appropriate property owner.

Developer Contributions: The District may enter into a funding agreement and receive certain prescribed dollars from the Developer to off-set expenditures of the District.

Event Rental: The District may receive monies for event rentals for such things as weddings, birthday parties, etc.

Miscellaneous Revenues: The District may receive monies for the sale or provision of electronic access cards, entry decals etc.

Facilities Rentals: The District may receive monies for the rental of certain facilities by outside sources, for such items as office space, snack bar/restaurants etc.

EXPENDITURES – ADMINISTRATIVE:

Supervisor Fees: The District may compensate its supervisors within the appropriate statutory limits of
$200.00 maximum per meeting within an annual cap of $4,800.00 per supervisor.

Administrative Services: The District will incur expenditures for the day to today operation of District matters. These services include support for the District Management function, recording and preparation of meeting minutes, records retention and maintenance in accordance with Chapter 119, Florida Statutes, and the District’s adopted Rules of Procedure, preparation and delivery of agenda, overnight deliveries, facsimiles and phone calls.

District Management: The District as required by statute, will contract with a firm to provide for management and administration of the District’s day to day needs. These service include the conducting of board meetings, workshops, overall administration of District functions, all required state and local filings, preparation of annual budget, purchasing, risk management, preparing various resolutions and all other secretarial duties requested by the District throughout the year is also reflected in this amount.

District Engineer: The District’s engineer provides general engineering services to the District. Among these services are attendance at and preparation for monthly board meetings, review of construction invoices and all other engineering services requested by the district throughout the year.

Disclosure Report: The District is required to file quarterly and annual disclosure reports, as required in the District’s Trust Indenture, with the specified repositories. This is contracted out to a third party in compliance with the Trust Indenture.

Trustee’s Fees: The District will incur annual trustee’s fees upon the issuance of bonds for the oversight of the various accounts relating to the bond issues.

Assessment Roll: The District will contract with a firm to maintain the assessment roll and annually levy a Non-Ad Valorem assessment for operating and debt service expenses.

Financial & Revenue Collections: Services include all functions necessary for the timely billing and collection and reporting of District assessments in order to ensure adequate funds to meet the District’s debt service and operations and maintenance obligations. These services include, but are not limited to, assessment roll preparation and certification, direct billings and funding request processing as well as responding to property owner questions regarding District assessments. This line item also includes the fees incurred for a Collection Agent to collect the funds for the principal and interest payment for its short- term bond issues and any other bond related collection needs. These funds are collected as prescribed in the Trust Indenture. The Collection Agent also provides for the release of liens on property after the full collection of bond debt levied on particular properties.

Accounting Services: Services include the preparation and delivery of the District’s financial statements in accordance with Governmental Accounting Standards, accounts payable and accounts receivable functions, asset tracking, investment tracking, capital program administration and requisition processing, filing of annual reports required by the State of Florida and monitoring of trust account activity.

Auditing Services: The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting firm, once it reaches certain revenue and expenditure levels, or has issued bonds and incurred debt.

Arbitrage Rebate Calculation: The District is required to calculate the interest earned from bond proceeds each year pursuant to the Internal Revenue Code of 1986. The Rebate Analyst is required to verify that the District has not received earnings higher than the yield of the bonds.

Travel: Each Board Supervisor and the District Staff are entitled to reimbursement for travel expenses per Florida Statutes 190.006(8).

Public Officials Liability Insurance: The District will incur expenditures for public officials’ liability insurance for the Board and Staff.

Legal Advertising: The District will incur expenditures related to legal advertising. The items for which the District will advertise include, but are not limited to meeting schedules, special meeting notices, and public hearings, bidding etc. for the District based on statutory guidelines

Bank Fees: The District will incur bank service charges during the year.

Dues, Licenses & Fees: The District is required to pay an annual fee to the Department of Economic Opportunity, along with other items which may require licenses or permits, etc.

Miscellaneous Fees: The District could incur miscellaneous throughout the year, which may not fit into any standard categories.

Website Hosting, Maintenance and Email: The District may incur fees as they relate to the development and ongoing maintenance of its own website along with possible email services if requested.

District Counsel: The District’s legal counsel provides general legal services to the District. Among these services are attendance at and preparation for monthly board meetings, review of operating and maintenance contracts and all other legal services requested by the district throughout the year.

EXPENDITURES - FIELD OPERATIONS:

Deputy Services: The District may wish to contract with the local police agency to provide security for the District.

Security Services and Patrols: The District may wish to contract with a private company to provide security for the District.

Electric Utility Services: The District will incur electric utility expenditures for general purposes such as irrigation timers, lift station pumps, fountains, etc.

Street Lights: The District may have expenditures relating to street lights throughout the community. These may be restricted to main arterial roads or in some cases to all street lights within the District’s boundaries.

Utility - Recreation Facility: The District may budget separately for its recreation and or amenity electric separately.

Gas Utility Services: The District may incur gas utility expenditures related to district operations at its facilities such as pool heat etc.

Garbage - Recreation Facility: The District will incur expenditures related to the removal of garbage and solid waste.

Solid Waste Assessment Fee: The District may have an assessment levied by another local government for solid waste, etc.

Water-Sewer Utility Services: The District will incur water/sewer utility expenditures related to district operations.

Utility - Reclaimed: The District may incur expenses related to the use of reclaimed water for irrigation.

Aquatic Maintenance: Expenses related to the care and maintenance of the lakes and ponds for the control of nuisance plant and algae species.

Fountain Service Repairs & Maintenance: The District may incur expenses related to maintaining the fountains within throughout the Parks & Recreational areas

Lake/Pond Bank Maintenance: The District may incur expenditures to maintain lake banks, etc. for the ponds and lakes within the District’s boundaries, along with planting of beneficial aquatic plants, stocking of fish, mowing and landscaping of the banks as the District determines necessary.

Wetland Monitoring & Maintenance: The District may be required to provide for certain types of monitoring and maintenance activities for various wetlands and waterways by other governmental entities.

Mitigation Area Monitoring & Maintenance: The District may be required to provide for certain types of monitoring and maintenance activities for various mitigation areas by other governmental entities.

Aquatic Plant Replacement: The expenses related to replacing beneficial aquatic plants, which may or may not have been required by other governmental entities.

General Liability Insurance: The District will incur fees to insure items owned by the District for its general liability needs

Property Insurance: The District will incur fees to insure items owned by the District for its property needs

Entry and Walls Maintenance: The District will incur expenditures to maintain the entry monuments and the fencing.

Landscape Maintenance: The District will incur expenditures to maintain the rights-of-way, median strips, recreational facilities including pond banks, entryways, and similar planting areas within the District. These services include but are not limited to monthly landscape maintenance, fertilizer, pesticides, annuals, mulch, and irrigation repairs.

Irrigation Maintenance: The District will incur expenditures related to the maintenance of the irrigation systems.

Irrigation Repairs: The District will incur expenditures related to repairs of the irrigation systems.

Landscape Replacement: Expenditures related to replacement of turf, trees, shrubs etc.

Field Services: The District may contract for field management services to provide landscape maintenance oversight.

Miscellaneous Fees: The District may incur miscellaneous expenses that do not readily fit into defined categories in field operations.

Gate Phone: The District will incur telephone expenses if the District has gates that are to be opened and closed.

Street/Parking Lot Sweeping: The District may incur expenses related to street sweeping for roadways it owns or are owned by another governmental entity, for which it elects to maintain.

Gate Facility Maintenance: Expenses related to the ongoing repairs and maintenance of gates owned by the District if any.

Sidewalk Repair & Maintenance: Expenses related to sidewalks located in the right of way of streets the District may own if any.

Roadway Repair & Maintenance: Expenses related to the repair and maintenance of roadways owned by the District if any.

Employees - Salaries: The District may incur expenses for employees/staff members needed for the recreational facilities such as Clubhouse Staff.

Employees - P/R Taxes: This is the employer’s portion of employment taxes such as FICA etc.

Employee - Workers’ Comp: Fees related to obtaining workers compensation insurance.

Management Contract: The District may contract with a firm to provide for the oversight of its recreation facilities.

Maintenance & Repair: The District may incur expenses to maintain its recreation facilities.

Facility Supplies: The District may have facilities that required various supplies to operate.

Gate Maintenance & Repairs: Any ongoing gate repairs and maintenance would be included in this line item.

Telephone, Fax, Internet: The District may incur telephone, fax and internet expenses related to the recreational facilities.

Office Supplies: The District may have an office in its facilities which require various office related supplies.

Clubhouse - Facility Janitorial Service: Expenses related to the cleaning of the facility and related supplies.

Pool Service Contract: Expenses related to the maintenance of swimming pools and other water features.

Pool Repairs: Expenses related to the repair of swimming pools and other water features.

Security System Monitoring & Maintenance: The District may wish to install a security system for the clubhouse

Clubhouse Miscellaneous Expense: Expenses which may not fit into a defined category in this section of the budget

Athletic/Park Court/Field Repairs: Expense related to any facilities such as tennis, basketball etc.

Trail/Bike Path Maintenance: Expenses related to various types of trail or pathway systems the District may own, from hard surface to natural surfaces.

Special Events: Expenses related to functions such as holiday events for the public enjoyment

Miscellaneous Fees: Monies collected and allocated for fees that the District could incur throughout the year, which may not fit into any standard categories.

Miscellaneous Contingency: Monies collected and allocated for expenses that the District could incur throughout the year, which may not fit into any standard categories.

Capital Outlay: Monies collected and allocated for various projects as they relate to public improvements.

RESERVE FUND BUDGET ACCOUNT CATEGORY DESCRIPTION

The Reserve Fund Budget Account Category Descriptions are subject to change at any time depending on its application to the District. Please note, not all Reserve Fund Budget Account Category Descriptions are applicable to the District indicated above. Uses of the descriptions contained herein are intended for general reference.

REVENUES:

Tax Roll: The District levies Non-Ad Valorem Special Assessments on all of the assessable property within the District to pay for operating expenditures incurred during the Fiscal Year. The assessments may be collected in two ways. The first is by placing them on the County’s Tax Roll, to be collected with the County’s Annual Property Tax Billing. This method is only available to land properly platted within the time limits prescribed by the County.

Off Roll: For lands not on the tax roll and that is by way of a direct bill from the District to the appropriate property owner.

Developer Contributions: The District may enter into a funding agreement and receive certain prescribed dollars from the Developer to off-set expenditures of the District.

Miscellaneous Revenues: The District may receive monies for the sale or provision of electronic access cards, entry decals etc.

EXPENDITURES:

Capital Reserve: Monies collected and allocated for the future repair and replacement of various capital improvements such as club facilities, swimming pools, athletic courts, roads, etc.

Capital Outlay: Monies collected and allocated for various projects as they relate to public improvements.

DEBT SERVICE FUND BUDGET ACCOUNT CATEGORY DESCRIPTION

The Debt Service Fund Budget Account Category Descriptions are subject to change at any time depending on its application to the District. Please note, not all Debt Service Fund Budget Account Category Descriptions are applicable to the District indicated above. Uses of the descriptions contained herein are intended for general reference.

REVENUES:

Special Assessments: The District may levy special assessments to repay the debt incurred by the sale of bonds to raise working capital for certain public improvements. The assessments may be collected in the same fashion as described in the Operations and Maintenance Assessments.

EXPENDITURES – ADMINISTRATIVE:

Bank Fees: The District may incur bank service charges during the year.

Debt Service Obligation: This would a combination of the principal and interest payment to satisfy the annual repayment of the bond issue debt.

Chart of Accounts Classification	
Budget for 2020/2021	
		
REVENUES		
		
Special Assessments		
Tax Roll*	$	1,178,477	
Off Roll*	$	353,156	
Contributions & Donations from Private
Sources		
Developer Contributions	$	30,000	
HOA Capital Transfer	$	109,550	
Other Miscellaneous Revenues		
User Fees	$	37,839	
Event Income	$	692	
Café Income	$	20,636	
		
TOTAL REVENUES	$	1,730,350	
		
EXPENDITURES - ADMINISTRATIVE		
		
Legislative		
Supervisor Fees	$	9,600	
Financial & Administrative		
Administrative Services	$	4,850	
District Management	$	19,467	
District Engineer	$	5,000	
Disclosure Report	$	6,000	
Trustees Fees	$	8,000	
Assessment Roll	$	5,250	
Financial & Revenue Collections	$	5,000	
Accounting Services	$	19,467	
Auditing Services	$	4,400	
Arbitrage Rebate Calculation	$	1,000	
Public Officials Liability Insurance	$	2,000	
Legal Advertising	$	2,200	
Dues, Licenses & Fees	$	175	
Miscellaneous Fees	$	500	
Website Hosting, Maintenance, Backup (and Email)	
$	7,120	

Legal Counsel		
District Counsel	$	23,000	
		
Administrative Subtotal	$	123,029	

EXPENDITURES - FIELD OPERATIONS		
		
Electric Utility Services		
Utility Services	$	10,000	
Utility - Recreation Facilities	$	60,900	
Street Lights	$	30,000	
Gas Utility Services		
Utility Services	$	583	
Garbage/Solid Waste Control Services		
Garbage - Recreation Facility	$	2,786	
Water-Sewer Combination Services		
Utility Services - Recreational Facilities	$	15,225	
Utility - Reclaimed	$	295,000	
Stormwater Control		
Aquatic Maintenance	$	15,777	
Stormwater Assessment	$	2,000	
Stormwater System Maintenance	$	7,888	
Other Physical Environment		
General Liability & Property Insurance	$	50,000	
Entry & Walls Maintenance	$	1,600	

Landscape & Irrigation Maintenance	
$	420,949	
Common Area Pinestraw Mulch	$	83,290	
Irrigation Repairs	$	6,200	

Chart of Accounts Classification	
Budget for 2020/2021	
Landscape Replacement Plants, Shrubs,	$	23,644	
Holiday Decorations	$	12,363	
Miscellaneous Expense	$	3,484	
Road & Street Facilities		
Amenity Lighting Repairs (Parking
Lot/Decorative)	
$	2,629	
Street Light Decorative Light Maintenance	
$	7,888	
Parks & Recreation		
Amenity Management Contract	$	9,000	

Lifeguards	
$	102,258	
Amenity Staff	$	93,909	
Mileage	$	167	
Postage	$	1,242	
Licenses, Fees & Permits	$	10,331	
Fitness Equipment Leasing	$	38,679	
Fitness Equipment Maintenance & Repairs	
$	3,000	
Amenity Maintenance Contract	$	61,049	

Amenity Maintenance & Repairs	
$	40,000	
Cable Television, Phone & Internet	$	11,360	
Amenity Janitorial Services Contract & Window Cleaning	
$	25,950	
Pool Maintenance & Chemical Contract	
$	58,452	
Pest Control & Termite Bond	$	2,911	
Security System Monitoring & Maintenance	
$	755	
Access Control Maintenance & Repair	$	2,538	
Animal Control Systems	$	1,298	
Uniforms	$	2,081	
General Supplies	$	18,385	
Tennis Court Maintenance & Supplies	
$	5,500	
Café Materials	$	11,398	
Dog Waste Station Supplies	$	1,052	
Community Gardens Maintenance & Supplies	
$	2,500	
Special Events		
Special Events	$	36,300	
Facility Classes	$	5,000	
Contingency		
Capital Improvements	$	10,000	
		
Field Operations Subtotal	$	1,607,321	
		
TOTAL EXPENDITURES	$	1,730,350	
		
EXCESS OF REVENUES OVER	$	-	

Trout Creek Community Development District	
Debt Service	
Fiscal Year 2020/2021	

Chart of Accounts Classification	Series 2015	Series 2018	Budget for 2020/2021	
				
REVENUES				
Special Assessments				
Net Special Assessments	$1,412,275.33	$820,872.46	$2,233,147.80	
				
TOTAL REVENUES	$1,412,275.33	$820,872.46	$2,233,147.80	

EXPENDITURES				
Administrative				
Financial & Administrative				
Debt Service Obligation	$1,412,275.33	$820,872.46	$2,233,147.80	
Administrative Subtotal	$1,412,275.33	$820,872.46	$2,233,147.80	
				
TOTAL EXPENDITURES	$1,412,275.33	$820,872.46	$2,233,147.80	
				
EXCESS OF REVENUES OVER EXPENDITURES	$0.00	$0.00	$0.00	

Collection Cost (2%) and Discount (4%) applicable to the county:	6.0%

Gross assessments	$2,373,669.00

Notes:	
1. Tax Roll Collection Costs (2%) for St. Johns County (4%) is a total 6% of Tax Roll. Budgeted net of tax roll assessments. See Assessment Table.	

Debt Service

Trout Creek Community Development District 

FISCAL YEAR 2020/2021 O&M & DEBT SERVICE ASSESSMENT SCHEDULE

2020/2021 O&M Budget		$1,531,633.00	
Collection Cost	2%	$32,587.94	
Early Payment Discount	4%	$65,175.87	
2020/2021 Total:		$1,629,396.81	

2019/2020 O&M Budget	
2020/2021 O&M Budget	

$1,256,225.00	
$1,531,633.00	

Total Difference:	$275,408.00

PER UNIT ANNUAL ASSESSMENT	
Proposed Increase / Decrease	
2019/2020	2020/2021	$	%	

Series 2015 Debt Service - Townhome	$879.50	$879.50	$0.00	0.00%	
Operations/Maintenance - Townhome	$1,061.14	$1,061.91	$0.77	0.07%	
Total	$1,938.95	$1,941.41	$2.46	0.13%	

Series 2015 Debt Service - SF 40'	$979.50	$979.50	$0.00	0.00%	
Operations/Maintenance - SF 40'	$1,092.65	$1,087.86	-$4.79	-0.44%	
Total	$2,070.46	$2,067.36	-$3.10	-0.15%	

Series 2015 Debt Service - SF 50'	$1,079.50	$1,079.50	$0.00	0.00%	
Operations/Maintenance - SF 50'	$1,113.66	$1,105.16	-$8.50	-0.76%	
Total	$2,191.47	$2,184.66	-$6.81	-0.31%	

Series 2015 Debt Service - SF 60'	$1,179.50	$1,179.50	$0.00	0.00%	
Operations/Maintenance - SF 60'	$1,134.67	$1,122.47	-$12.20	-1.08%	
Total	$2,312.48	$2,301.97	-$10.51	-0.45%	

Series 2015 Debt Service - SF 70'	$1,279.50	$1,279.50	$0.00	0.00%	
Operations/Maintenance - SF 70'	$1,155.68	$1,139.77	-$15.91	-1.38%	
Total	$2,433.49	$2,419.27	-$14.22	-0.58%	

Series 2015 Debt Service - SF 80'	$1,379.50	$1,379.50	$0.00	0.00%	
Operations/Maintenance - SF 80'	$1,175.00	$1,157.07	-$17.93	-1.53%	
Total	$2,554.50	$2,536.57	-$17.93	-0.70%	

Series 2018 Debt Service - Townhome (Platted)	$879.50	$879.50	$0.00	0.00%	
Operations/Maintenance - Townhome (Platted)	$48.73	$1,061.91	$1,013.18	2079.17%	
Total	$926.54	$1,941.41	$1,014.87	109.53%	

Series 2018 Debt Service - SF 40' (Platted)	$979.50	$979.50	$0.00	0.00%	
Operations/Maintenance - SF 40' (Platted)	$48.73	$1,087.86	$1,039.13	2132.42%	
Total	$1,026.54	$2,067.36	$1,040.82	101.39%	

Series 2015 Debt Service - SF 50' (Unplatted)	$1,079.50	$1,079.50	$0.00	0.00%	
Operations/Maintenance - SF 50' (Unplatted)	$48.73	$50.69	$1.96	4.02%	
Total	$1,126.54	$1,130.19	$3.65	0.32%	

Assessment Worksheet

Trout Creek Community Development District 

FISCAL YEAR 2020/2021 O&M & DEBT SERVICE ASSESSMENT SCHEDULE

2020/2021 O&M Budget		$1,531,633.00	
Collection Cost	2%	$32,587.94	
Early Payment Discount	4%	$65,175.87	
2020/2021 Total:		$1,629,396.81	

2019/2020 O&M Budget	
2020/2021 O&M Budget	

$1,256,225.00	
$1,531,633.00	

Total Difference:	$275,408.00

PER UNIT ANNUAL ASSESSMENT	
Proposed Increase / Decrease	
	2019/2020	2020/2021	$	%	
Series 2015 Debt Service - SF 60' (Unplatted)	$1,179.50	$1,179.50	$0.00	0.00%	
Operations/Maintenance - SF 60' (Unplatted)	$48.73	$50.69	$1.96	4.02%	
Total	$1,226.54	$1,230.19	$3.65	0.30%	

Series 2015 Debt Service - SF 70' (Unplatted)	$1,279.50	$1,279.50	$0.00	0.00%	
Operations/Maintenance - SF 70' (Unplatted)	$48.73	$50.69	$1.96	4.02%	
Total	$1,326.54	$1,330.19	$3.65	0.28%	

Series 2018 Debt Service - Townhome (Unplatted)	$879.50	$879.50	$0.00	0.00%	
Operations/Maintenance - Townhome (Unplatted)	$48.73	$50.69	$1.96	4.02%	
Total	$926.54	$930.19	$3.65	0.39%	

Series 2018 Debt Service - SF 40' (Unplatted)	$979.50	$979.50	$0.00	0.00%	
Operations/Maintenance - SF 40' (Unplatted)	$48.73	$50.69	$1.96	4.02%	
Total	$1,026.54	$1,030.19	$3.65	0.36%	

Series 2018 Debt Service - SF 50' (Unplatted)	$1,079.50	$1,079.50	$0.00	0.00%	
Operations/Maintenance - SF 50' (Unplatted)	$48.73	$50.69	$1.96	4.02%	
Total	$1,126.54	$1,130.19	$3.65	0.32%	

Series 2018 Debt Service - SF 60' (Unplatted)	$1,179.50	$1,179.50	$0.00	0.00%	
Operations/Maintenance - SF 60' (Unplatted)	$48.73	$50.69	$1.96	4.02%	
Total	$1,226.54	$1,230.19	$3.65	0.30%	

Series 2018 Debt Service - SF 70' (Unplatted)	$1,279.50	$1,279.50	$0.00	0.00%	
Operations/Maintenance - SF 70' (Unplatted)	$48.73	$50.69	$1.96	4.02%	
Total	$1,326.54	$1,330.19	$3.65	0.28%	

Assessment Worksheet

FISCAL YEAR 2020/2021 O&M & DEBT SERVICE ASSESSMENT SCHEDULE
.
TOTAL O&M BUDGET		$1,531,633.00	
COLLECTION COSTS @	2%	$32,587.94	
EARLY PAYMENT DISCOUNT @	4%	$65,175.87	
TOTAL O&M ASSESSMENT		$1,629,396.81	

$130,881.91

UNITS ASSESSED

ALLOCATION OF EQUALIZED ADMIN COSTS

DEBT SERVICE	DEBT SERVICE		TOTAL		PER UNIT O&M    SERIES 2015 (1) (2)     SERIES 2018 (2)  EAU FACTOR	BUDGET	ASSESSMENT
200	200	0	1.00	$10,138.03	$50.69
159	156	0	1.00	$8,059.73	$50.69
414	402	0	1.00	$20,985.71	$50.69
251	251	0	1.00	$12,723.22	$50.69
200	180	0	1.00	$10,138.03	$50.69
69	68	0	1.00	$3,497.62	$50.69

Townhomes
Single Family 40'

43
85

0
0

43
85

1.00
1.00

$2,179.68
$4,308.66

$50.69
$50.69

TOTAL

1293

1257

128

$72,030.67

$1,375,467.02	
ALLOCATION OF EQUALIZED FIELD COSTS	

EAU FACTOR	

TOTAL BUDGET	

PER UNIT ASSESSMENT	
1.00	$193,591.42	$967.96	
1.00	$153,905.18	$967.96	
1.00	$400,734.23	$967.96	
1.00	$242,957.23	$967.96	
1.00	$193,591.42	$967.96	
1.00	$66,789.04	$967.96	
1.00	$41,622.15	$967.96	
1.00	$82,276.35	$967.96	
	$1,251,568.51		

$123,047.87	
ALLOCATI	ON OF STRATIFIED	FIELD COSTS	

EAU FACTOR	

TOTAL BUDGET	

PER UNIT ASSESSMENT	
0.50	$8,651.33	$43.26	
0.80	$11,004.49	$69.21	
1.00	$35,816.51	$86.51	
1.20	$26,057.81	$103.82	
1.40	$24,223.73	$121.12	
1.60	$9,551.07	$138.42	
0.50	$1,860.04	$43.26	
0.80	$5,882.90	$69.21	
	$123,047.87		

TOTAL	TOTAL	
SERIES 2015	SERIES 2018	

ASSESSMENT	
ASSESSMENT	
$175,900.00	$0.00	
$152,802.00	$0.00	
$433,959.00	$0.00	
$296,054.50	$0.00	
$230,310.00	$0.00	
$93,806.00	$0.00	

PLATTED	

LOT SIZE	
Townhomes	
Single Family 40'	
Single Family 50'	
Single Family 60'	
Single Family 70'	
Single Family 80'	

PER LOT ANNUAL ASSESSMENT

TOTAL O&M

2015 DEBT
SERVICE (2)

DEBT SERVICE
SERIES 2018 (2)	TOTAL (3)

			

			

$0.00	$37,818.50

$1,382,831.50	$121,076.00	

$0.00	$83,257.50

$1,061.91	$879.50	$0.00	$1,941.41
$1,087.86	$979.50	$0.00	$2,067.36
$1,105.16	$1,079.50	$0.00	$2,184.66
$1,122.47	$1,179.50	$0.00	$2,301.97
$1,139.77	$1,279.50	$0.00	$2,419.27
$1,157.07	$1,379.50	$0.00	$2,536.57

$1,061.91	$0.00	$879.50	$1,941.41	
$1,087.86	$0.00	$979.50	$2,067.36	

PER LOT ANNUAL ASSESSMENT

$130,881.91
ALLOCATION OF EQUALIZED ADMIN COSTS

DEBT SERVICE	DEBT SERVICE		TOTAL		PER UNIT UNPLATTED	O&M	SERIES 2015 (2)	SERIES 2018 (2)    EAU FACTOR	BUDGET	ASSESSMENT
Townhomes	438	0	74	1.00	$22,202.28	$50.69
Single Family 40'	233	0	233	1.00	$11,810.80	$50.69
Single Family 50'	152	0	152	1.00	$7,704.90	$50.69
Single Family 60'	201	58	143	1.00	$10,188.72	$50.69
Single Family 70'	137	39	98	1.00	$6,944.55	$50.69

TOTAL

1161

97

700

$58,851.24

TOTAL COMMUNITY	2454

1354

828

$130,881.91

$0.00
ALLOCATION OF EQUALIZED FIELD COSTS

PER UNIT EAU FACTOR	TOTAL BUDGET ASSESSMENT
1.00	$0.00	$0.00
1.00	$0.00	$0.00
1.00	$0.00	$0.00
1.00	$0.00	$0.00
1.00	$0.00	$0.00

$0.00

$1,251,568.51

$0.00
ALLOCATION OF STRATIFIED  FIELD COSTS

EAU FACTOR 0.50
0.80
1.00
1.20
1.40

PER UNIT TOTAL BUDGET ASSESSMENT

$0.00
$0.00
$0.00
$0.00
$0.00

$0.00
$0.00
$0.00
$0.00
$0.00

$0.00

$123,047.87

TOTAL O&M

2015 DEBT
SERVICE (2)

DEBT SERVICE
SERIES 2018 (2)	TOTAL (3)

$0.00	$65,083.00
$0.00	$228,223.50
$0.00	$164,084.00
$68,411.00	$168,668.50

$118,312	$751,450	

$49,900.50	$125,391.00

$1,412,275.33	$820,872.46	

LESS: St. John's County Collection Costs (2%) and Early Payment Discounts (4%):		($7,852.91)		($82,528.02)		($7,382.87)	($88,867.67)	($51,653.54) Net Revenue to be Collected	$123,029.00	$1,169,040.49	$115,665.00

$50.69	$879.50	$879.50	$1,809.69
$50.69	$979.50	$979.50	$2,009.69
$50.69	$1,079.50	$1,079.50	$2,209.69
$50.69	$1,179.50	$1,179.50	$2,409.69
$50.69	$1,279.50	$1,279.50	$2,609.69

(1)	Reflects thirty-six (36) Series 2015 Prepayments.	

(2)	Reflects the number of total lots with Series 2015 and Series 2018 debt outstanding.	
(3)	Annual debt service assessment per lot adopted in connection with the Series 2015 and Series 2018 bond issues. Annual assessment includes principal, interest, St. John's County collection costs and early payment discount costs.	
(4)	Annual assessment that will appear on November 2020 St. John's County property tax bill. Amount shown includes all applicable collection costs.	
	Property owner is eligible for a discount of up to 4% if paid early.