Trout Creek
Community Development District
www.troutcreekcdd.org

Approved Proposed Budget for Fiscal Year 2021/2022 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 for Fiscal Year 2021/2022	1	
Debt Service Fund Budget for Fiscal Year 2021/2022	3	

Assessments Charts for Fiscal Year 2021/2022	4	
General Fund Budget Account Category Descriptions	7	
Reserve Fund Budget Account Category Descriptions	13	
Debt Service Fund Budget Account Category Descriptions	14	

Proposed Budget	
Trout Creek Community Development District	
General Fund	
Fiscal Year 2021/2022	

Chart of Accounts Classification	Actual YTD through 03/31/21	Projected Annual Totals 2020/2021	Annual Budget for 2020/2021	Projected Budget variance for 2020/2021	
Budget for 2021/2022	Budget Increase (Decrease) vs 2020/2021	
Comments	
1									
2	REVENUES								
3									
4	Special Assessments								
5	Tax Roll*	$ 1,037,482	$  1,178,477	$  1,178,477	$	-	$	1,999,037	$	820,560		
6	Off Roll*	$    342,588	$	353,156	$	353,156	$	-	$	-	$     (353,156)		

7	Contributions & Donations from Private
Sources								
8	Developer Contributions	$	-	$	-	$	30,000	$	(30,000)	$	-	$	(30,000)		
9	HOA Capital Transfer	$	59,500	$	119,000	$	109,550	$	9,450	$	102,900	$	(6,650)		
10	Other Miscellaneous Revenues								
11	User Fees	$	6,805	$	13,610	$	37,839	$	(24,229)	$	39,371	$	1,532		
12	Event Income	$	932	$	1,864	$	692	$	1,172	$	699	$	7		
13	Café Income	$	3,425	$	6,850	$	20,636	$	(13,786)	$	22,700	$	2,064		

14	

Community Garden Lease	

$	1,504	

$	1,504	

$	-	

$	1,504	

$	-	

$	-	
Eliminated Lease Program in FY 21- YTD was Deferred from FY 20	
15									
16	TOTAL REVENUES	$ 1,452,236	$  1,674,461	$  1,730,350	$	(55,889)	$	2,164,707	$	434,357		
17									
24	EXPENDITURES - ADMINISTRATIVE								
25									
26	Legislative								
27	Supervisor Fees	$	3,800	$	7,600	$	9,600	$	2,000	$	9,600	$	-		
28	Financial & Administrative								
29	Administrative Services	$	2,425	$	4,850	$	4,850	$	-	$	4,947	$	97		
30	District Management	$	9,734	$	19,467	$	19,467	$	-	$	19,856	$	389		
31	District Engineer	$	1,649	$	3,298	$	5,000	$	1,702	$	5,000	$	-		
32	Disclosure Report	$	7,000	$	7,000	$	6,000	$	(1,000)	$	10,000	$	4,000	Now 3 Bonds to Report	
33	Trustees Fees	$	8,500	$	8,500	$	8,000	$	(500)	$	11,000	$	3,000	Est. for 3 Bonds	
34	Assessment Roll	$	5,250	$	5,250	$	5,250	$	-	$	5,355	$	105		
35	Financial & Revenue Collections	$	2,500	$	5,000	$	5,000	$	-	$	5,100	$	100		
36	Accounting Services	$	9,734	$	19,467	$	19,467	$	-	$	19,856	$	389		
37	Auditing Services	$	-	$	4,400	$	4,400	$	-	$	4,000	$	(400)	Per New Contract	
38	Arbitrage Rebate Calculation	$	1,350	$	1,350	$	1,000	$	(350)	$	1,350	$	350	Now 3 Bonds to Report	
39	Public Officials Liability Insurance	$	1,233	$	2,000	$	2,000	$	-	$	2,100	$	100	Per Estimate	
40	Legal Advertising	$	876	$	1,752	$	2,200	$	448	$	2,200	$	-		
41	Dues, Licenses & Fees	$	175	$	175	$	175	$	-	$	175	$	-		
42	Miscellaneous Fees	$	216	$	432	$	500	$	68	$	500	$	-		

43	ADA Website Hosting, Maintenance, Backup (and Email)	
$	3,560	
$	7,120	
$	7,120	
$	-	
$	7,120	
$	-		

44	
Legal Counsel								
45	District Counsel	$	10,750	$	21,500	$	23,000	$	1,500	$	25,000	$	2,000		
46									
47	Administrative Subtotal	$	68,752	$	119,161	$	123,029	$	3,868	$	133,159	$	10,130		
48									

49	
EXPENDITURES - FIELD OPERATIONS								
50									
51	Law Enforcement								
52	Off -Duty Deputy	$	-	$	-	$	-	$	-	$	12,000	$	12,000	New Line for Off-Duty Sheriff	
53	Electric Utility Services								
54	Utility Services	$	2,654	$	5,308	$	10,000	$	4,692	$	10,000	$	-	Based on YTD History	
55	Utility - Recreation Facilities	$	24,080	$	48,160	$	60,900	$	12,740	$	61,814	$	914		
56	Street Lights	$	9,291	$	18,582	$	30,000	$	11,418	$	40,000	$	10,000	New SL's being added	
57	Gas Utility Services								
58	Utility Services	$	471	$	942	$	583	$	(359)	$	583	$	-		
59	Garbage/Solid Waste Control Services								
60	Garbage - Recreation Facility	$	1,433	$	2,866	$	2,786	$	(80)	$	3,170	$	384	Increase in Fuel & Admin Fees	
61	Water-Sewer Combination Services								
62	Utility Services - Recreational Facilities	$	5,119	$	10,238	$	15,225	$	4,987	$	15,225	$	-		
63	Utility - Reclaimed	$	61,733	$	295,000	$	295,000	$	-	$	299,963	$	4,963	Based Build Out Est.	
64	Stormwater Control								

65	
Aquatic Maintenance	
$	19,534	
$	27,114	
$	15,777	
$	(11,337)	
$	25,000	
$	9,223	24 Ponds + Plus Carp - Add More Ponds	
66	Stormwater Assessment	$	-	$	-	$	2,000	$	2,000	$	2,000	$	-		
67	Stormwater System Maintenance	$	-	$	-	$	7,888	$	7,888	$	7,888	$	-		
68	Other Physical Environment								

69	
General Liability & Property Insurance	
$	24,864	
$	45,705	
$	50,000	
$	4,295	
$	55,000	
$	5,000	GL/Property Est - $49K, Will have new property in FY 22	
70	Entry & Walls Maintenance	$	-	$	-	$	1,600	$	1,600	$	4,500	$	2,900		

71	

Landscape & Irrigation Maintenance	

$    155,936	

$	311,872	

$	420,949	

$	109,077	

$	423,554	

$	2,605	VerdeGo's FY 22 Fee - Phases 1, 2A, 2B, 2C & 2D. New Phases to come on-line	
72	Common Area Pinestraw Mulch	$	37,911	$	75,822	$	83,290	$	7,468	$	85,789	$	2,499		
73	Irrigation Repairs	$	11,409	$	11,409	$	6,200	$	(5,209)	$	6,200	$	-	YTD from VerdeGo's Initial Audit	

Proposed Budget	
Trout Creek Community Development District	
General Fund	
Fiscal Year 2021/2022	

Chart of Accounts Classification	Actual YTD through 03/31/21	Projected Annual Totals 2020/2021	Annual Budget for 2020/2021	Projected Budget variance for 2020/2021	
Budget for 2021/2022	Budget Increase (Decrease) vs 2020/2021	
Comments	

74	Landscape Replacement Plants, Shrubs, Trees	
$	4,497	
$	8,994	
$	23,644	
$	14,650	
$	23,644	
$	-		

75	
Holiday Decorations	
$	11,990	
$	11,990	
$	12,363	
$	373	
$	12,363	
$	-		

76	
Miscellaneous Expense	
$	1,870	
$	3,740	
$	3,484	
$	(256)	
$	3,484	
$	-	YTD Includes School Traffic Monitoring	
77	Road & Street Facilities								

78	Amenity Lighting Repairs (Parking
Lot/Decorative)	
$	-	
$	1,000	
$	2,629	
$	1,629	
$	4,000	
$	1,371		

79	Street Light Decorative Light Maintenance	
$	3,400	
$	6,800	
$	7,888	
$	1,088	
$	12,000	
$	4,112		
80	Parks & Recreation								
81	Amenity Management Contract	$	4,500	$	9,000	$	9,000	$	-	$	9,000	$	-		

82	
Lifeguards	
$	17,511	
$	94,404	
$	102,258	
$	7,854	
$	115,068	
$	12,810	
Vesta - Proposed Rate Increase	

83	
Amenity Staffing	
$	48,227	
$	95,095	
$	93,909	
$	(1,186)	
$	97,045	
$	3,136		
84	Mileage	$	-	$	-	$	167	$	167	$	167	$	-		
85	Postage	$	-	$	-	$	1,242	$	1,242	$	1,242	$	-		
86	Licenses, Fees & Permits	$	2,506	$	10,331	$	10,331	$	-	$	10,331	$	-		

87	
Fitness Equipment Leasing	
$	9,670	
$	9,670	
$	38,679	
$	29,009	
$	15,000	
$	(23,679)	Lease Ended - Budget for New Replacements	

88	Fitness Equipment Maintenance &
Repairs	
$	611	
$	1,222	
$	3,000	
$	1,778	
$	3,000	
$	-		

89	Amenity, Pool & Field Maintenance Contract	
$	31,403	
$	73,720	
$	61,049	
$	(12,671)	
$	78,000	
$	16,951	
Per New CCMC Contract	

90	
Amenity Maintenance & Repairs	
$	17,336	
$	34,672	
$	40,000	
$	5,328	
$	48,000	
$	8,000		
91	Cable Television, Phone & Internet	$	7,983	$	15,966	$	11,360	$	(4,606)	$	15,000	$	3,640	Based on YTD History	

92	Amenity Janitorial Services Contract & Window Cleaning	
$	14,369	
$	45,992	
$	25,950	
$	(20,042)	
$	53,000	
$	27,050	
Per New CCMC Contract	

93	
Pool Repairs & Chemical Contract	
$	21,391	
$	42,782	
$	58,452	
$	15,670	
$	30,000	
$	(28,452)	
Maintenance Moved to Line 89	
94	Pest Control & Termite Bond	$	913	$	1,826	$	2,911	$	1,085	$	3,000	$	89		

95	Security System Monitoring & Maintenance	
$	-	
$	-	
$	755	
$	755	
$	1,500	
$	745		
96	Access Control Maintenance & Repair	$	1,600	$	3,200	$	2,538	$	(662)	$	4,000	$	1,462		
97	Animal Control Systems	$	662	$	1,324	$	1,298	$	(26)	$	1,400	$	102		
98	Uniforms	$	350	$	700	$	2,081	$	1,381	$	2,081	$	-		
99	General & Office Supplies	$	8,395	$	16,790	$	18,385	$	1,595	$	18,385	$	-		
100	Tennis Court Maintenance & Supplies	$	229	$	458	$	5,500	$	5,042	$	5,500	$	-		
101	Café Materials	$	3,394	$	6,788	$	11,398	$	4,610	$	19,000	$	7,602	Based on Build Out Est.	
102	Dog Waste Station Supplies	$	56	$	112	$	1,052	$	940	$	1,052	$	-		

103	Community Gardens Maintenance & Supplies	
$	-	
$	-	
$	2,500	
$	2,500	
$	2,500	
$	-		
104	Special Events								
105	Special Events	$	33,867	$	67,734	$	36,300	$	(31,434)	$	60,500	$	24,200		
106	Facility Classes	$	326	$	4,000	$	5,000	$	1,000	$	5,000	$	-		
107	Contingency								

108	
Capital Improvements	
$	-	
$	5,000	
$	10,000	
$	5,000	
$	35,000	
$	25,000		

109	
Capital Reserves	
$	-	
$	-	
$	-	
$	-	
$	289,600	
$	289,600		
110									
111	Field Operations Subtotal	$    601,491	$  1,426,328	$  1,607,321	$	180,993	$	2,031,548	$	424,227		
112									
115	TOTAL EXPENDITURES	$    670,243	$  1,545,489	$  1,730,350	$	184,861	$	2,164,707	$	434,357		
116									
117	EXCESS OF REVENUES OVER	$    781,993	$	128,972	$	-	$	128,972	$	-	$	-		
118									

Trout Creek Community Development District	
Debt Service	
Fiscal Year 2021/2022	

Chart of Accounts Classification	Series 2015	Series 2018	Series 2020	Budget for 2021/2022	
					
REVENUES					
Special Assessments					
Net Special Assessments	$1,401,366.76	$935,949.24	$239,960.45	$2,577,276.44	
					
TOTAL REVENUES	$1,401,366.76	$935,949.24	$239,960.45	$2,577,276.44	

EXPENDITURES					
Administrative					
Financial & Administrative					
Debt Service Obligation	$1,401,366.76	$935,949.24	$239,960.45	$2,577,276.44	
Administrative Subtotal	$1,401,366.76	$935,949.24	$239,960.45	$2,577,276.44	
					
TOTAL EXPENDITURES	$1,401,366.76	$935,949.24	$239,960.45	$2,577,276.44	
					
EXCESS OF REVENUES OVER EXPENDITURES	$0.00	$0.00	$0.00	$0.00	

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

Gross assessments	$2,739,452.00

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 2021/2022 O&M & DEBT SERVICE ASSESSMENT SCHEDULE

2021/2022 O&M Budget		$1,999,037.00	
Collection Cost	2%	$42,532.70	
Early Payment Discount	4%	$85,065.40	
2021/2022 Total:		$2,126,635.11	

2020/2021 O&M Budget	
2021/2022 O&M Budget	

$1,531,633.00	
$1,999,037.00	

Total Difference:	$467,404.00

PER UNIT ANNUAL ASSESSMENT	
Proposed Increase / Decrease	
2020/2021	2021/2022	$	%	

Series 2015 Debt Service - Townhome	$879.50	$879.50	$0.00	0.00%	
Operations/Maintenance - Townhome	$1,061.91	$1,061.33	-$0.58	-0.05%	
Total	$1,941.41	$1,940.83	-$0.58	-0.03%	

Series 2015 Debt Service - SF 40'	$979.50	$979.50	$0.00	0.00%	
Operations/Maintenance - SF 40'	$1,087.86	$1,088.71	$0.85	0.08%	
Total	$2,067.36	$2,068.21	$0.85	0.04%	

Series 2015 Debt Service - SF 50'	$1,079.50	$1,079.50	$0.00	0.00%	
Operations/Maintenance - SF 50'	$1,105.16	$1,106.96	$1.80	0.16%	
Total	$2,184.66	$2,186.46	$1.80	0.08%	

Series 2015 Debt Service - SF 60'	$1,179.50	$1,179.50	$0.00	0.00%	
Operations/Maintenance - SF 60'	$1,122.47	$1,125.22	$2.75	0.24%	
Total	$2,301.97	$2,304.72	$2.75	0.12%	

Series 2015 Debt Service - SF 70'	$1,279.50	$1,279.50	$0.00	0.00%	
Operations/Maintenance - SF 70'	$1,139.77	$1,143.47	$3.70	0.32%	
Total	$2,419.27	$2,422.97	$3.70	0.15%	

Series 2015 Debt Service - SF 80'	$1,379.50	$1,379.50	$0.00	0.00%	
Operations/Maintenance - SF 80'	$1,157.07	$1,161.72	$4.65	0.40%	
Total	$2,536.57	$2,541.22	$4.65	0.18%	

Series 2018 Debt Service - Townhome (Platted)	$879.50	$879.50	$0.00	0.00%	
Operations/Maintenance - Townhome (Platted)	$1,061.91	$1,061.33	-$0.58	-0.05%	
Total	$1,941.41	$1,940.83	-$0.58	-0.03%	

Series 2018 Debt Service - SF 40' (Platted)	$979.50	$979.50	$0.00	0.00%	
Operations/Maintenance - SF 40' (Platted)	$1,087.86	$1,088.71	$0.85	0.08%	
Total	$2,067.36	$2,068.21	$0.85	0.04%	

Series 2015 Debt Service - SF 60' (Unplatted)	$1,179.50	$1,179.50	$0.00	0.00%	
Operations/Maintenance - SF 60' (Unplatted)	$50.69	$52.98	$2.29	4.52%	
Total	$1,230.19	$1,232.48	$2.29	0.19%	

Assessment Worksheet

Trout Creek Community Development District 

FISCAL YEAR 2021/2022 O&M & DEBT SERVICE ASSESSMENT SCHEDULE

2021/2022 O&M Budget		$1,999,037.00	
Collection Cost	2%	$42,532.70	
Early Payment Discount	4%	$85,065.40	
2021/2022 Total:		$2,126,635.11	

2020/2021 O&M Budget	
2021/2022 O&M Budget	

$1,531,633.00	
$1,999,037.00	

Total Difference:	$467,404.00

PER UNIT ANNUAL ASSESSMENT	
Proposed Increase / Decrease	
	2020/2021	2021/2022	$	%	
Series 2015 Debt Service - SF 70' (Unplatted)	$1,279.50	$1,279.50	$0.00	0.00%	
Operations/Maintenance - SF 70' (Unplatted)	$50.69	$52.98	$2.29	4.52%	
Total	$1,330.19	$1,332.48	$2.29	0.17%	

Series 2018 Debt Service - Townhome (Unplatted)	$879.50	$879.50	$0.00	0.00%	
Operations/Maintenance - Townhome (Unplatted)	$50.69	$52.98	$2.29	4.52%	
Total	$930.19	$932.48	$2.29	0.25%	

Series 2018 Debt Service - SF 40' (Unplatted)	$979.50	$979.50	$0.00	0.00%	
Operations/Maintenance - SF 40' (Unplatted)	$50.69	$52.98	$2.29	4.52%	
Total	$1,030.19	$1,032.48	$2.29	0.22%	

Series 2018 Debt Service - SF 50' (Unplatted)	$1,079.50	$1,079.50	$0.00	0.00%	
Operations/Maintenance - SF 50' (Unplatted)	$50.69	$52.98	$2.29	4.52%	
Total	$1,130.19	$1,132.48	$2.29	0.20%	

Series 2018 Debt Service - SF 60' (Unplatted)	$1,179.50	$1,179.50	$0.00	0.00%	
Operations/Maintenance - SF 60' (Unplatted)	$50.69	$52.98	$2.29	4.52%	
Total	$1,230.19	$1,232.48	$2.29	0.19%	

Series 2020 Debt Service - Townhome (Unplatted)	$0.00	$880.00	$880.00	0.00%	
Operations/Maintenance - Townhome (Unplatted)	$50.69	$52.98	$2.29	4.52%	
Total	$930.19	$932.98	$2.79	0.30%	

Series 2020 Debt Service - SF 40' (Unplatted)	$0.00	$980.00	$980.00	0.00%	
Operations/Maintenance - SF 40' (Unplatted)	$50.69	$52.98	$2.29	4.52%	
Total	$1,030.19	$1,032.98	$2.79	0.27%	

Series 2020 Debt Service - SF 60' (Unplatted)	$0.00	$1,180.00	$1,180.00	0.00%	
Operations/Maintenance - SF 60' (Unplatted)	$50.69	$52.98	$2.29	4.52%	
Total	$1,230.19	$1,232.98	$2.79	0.23%	

Assessment Worksheet

$1,061.33	$0.00	$879.50	$0.00	$1,940.83	
$1,088.71	$0.00	$979.50	$0.00	$2,068.21	
$1,106.96	$0.00	$1,079.50	$0.00	$2,186.46	

											

UNPLATTED	

O&M	

DEBT SERVICE SERIES 2015 (2)	

DEBT SERVICE SERIES 2018 (2)	

DEBT SERVICE SERIES 2020 (2)	

EAU FACTOR	
ALLOCATIO

TOTAL EAU's	
N OF EQUALIZ

% TOTAL EAU's	
ED ADMIN COS

TOTAL BUDGET	$141,658.51
TS

PER UNIT ASSESSMENT		
Single Family 60'	14	14	0	0	1.00	14.00	0.52%	$741.67	$52.98		
Single Family 70'

Townhomes Single Family 40'
Single Family 50'
Single Family 60'

Townhomes Single Family 40'
Single Family 60'

TOTAL

TOTAL COMMUNITY	39

223
74
106
72

105
54
93

780

2674	39

0
0
0
0

0
0
0

53

1344	0

223
74
106
72

0
0
0

475

1032	0

0
0
0
0

105
54
93

252

252	1.00

1.00
1.00
1.00
1.00

1.00
1.00
1.00	39.00

223.00
74.00
106.00
72.00

105.00
54.00
93.00

780.00

2674.00	1.46%

8.34%
2.77%
3.96%
2.69%

3.93%
2.02%
3.48%

29%

100%	$2,066.07

$11,813.71
$3,920.24
$5,615.48
$3,814.29

$5,562.51
$2,860.72
$4,926.79

$41,321.48

$141,658.51	$52.98

$52.98
$52.98
$52.98
$52.98

$52.98
$52.98
$52.98		

ALLO

EAU FACTOR	
CATION O

TOTAL EAU's	
F EQUALI

% TOTAL EAU's	
ZED FIELD COSTS

TOTAL BUDGET	$0.00

PER UNIT ASSESSMENT		
1.00	0.00	0.00%	$0.00	$0.00		
1.00

1.00
1.00
1.00
1.00

1.00
1.00
1.00	0.00

0.00
0.00
0.00
0.00

0.00
0.00
0.00

0.00

1894.00	0.00%

0.00%
0.00%
0.00%
0.00%

0.00%
0.00%
0.00%

0%

100%	$0.00

$0.00
$0.00
$0.00
$0.00

$0.00
$0.00
$0.00

$0.00

$1,823,393.62	$0.00

$0.00
$0.00
$0.00
$0.00

$0.00
$0.00
$0.00		

A

EAU FACTOR	
LLOCATIO

TOTAL EAU's	
N OF STR

% TOTAL EAU's	
ATIFIED FIELD CO

TOTAL BUDGET	$0.00
STS

PER UNIT ASSESSMENT		
1.20	0.00	0.00%	$0.00	$0.00		
1.40

0.50
0.80
1.00
1.20

0.50
0.80
1.20	0.00

0.00
0.00
0.00
0.00

0.00
0.00
0.00

0.00	0.00%

0.00%
0.00%
0.00%
0.00%

0.00%
0.00%
0.00%

0%	$0.00

$0.00
$0.00
$0.00
$0.00

$0.00
$0.00
$0.00

$0.00

$161,582.98	$0.00

$0.00
$0.00
$0.00
$0.00

$0.00
$0.00
$0.00		

$52.98	$0.00	$879.50	$0.00	$932.48	
$52.98	$0.00	$979.50	$0.00	$1,032.48	
$52.98	$0.00	$1,079.50	$0.00	$1,132.48	
$52.98	$0.00	$1,179.50	$0.00	$1,232.48	

$52.98	$0.00	$0.00	$880.00	$52.98	
$52.98	$0.00	$0.00	$980.00	$52.98	
$52.98	$0.00	$0.00	$1,180.00	$52.98	

UNITS ASSESSED

PLATTED

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

DEBT SERVICE     DEBT SERVICE
O&M  SERIES 2015 (1) (2)  SERIES 2018 (2)

200
159
414
295
200
69

199
155
401
291
178
67

0
0
0
0
0
0

DEBT SERVICE SERIES 2020 (2)
0
0
0
0
0
0

Townhomes Single Family 40'
Single Family 50'

233
278
46

0
0
0

233
278
46

0
0
0

1.00
1.00
1.00

233.00
278.00
46.00

8.71%
10.40%
1.72%

$12,343.47
$14,727.40
$2,436.91

$52.98
$52.98
$52.98

TOTAL

1894

1291

557

0

1894.00

71%

$100,337.03

TROUT CREEK

PER LOT ANNUAL ASSESSMENT

2015 DEBT     DEBT SERVICE   DEBT SERVICE
TOTAL O&M     SERVICE (2)     SERIES 2018 (2)     SERIES 2020 (2)	TOTAL (3)
$52.98	$1,179.50	$0.00	$0.00	$1,232.48
$52.98	$1,279.50	$0.00	$0.00	$1,332.48

$1,823,393.62	
ALLOCATION OF EQUALIZED FIELD COSTS	

EAU FACTOR	

TOTAL EAU's	
% TOTAL EAU's	

TOTAL BUDGET	

PER UNIT ASSESSMENT	
1.00	200.00	10.56%	$192,544.20	$962.72	
1.00	159.00	8.39%	$153,072.64	$962.72	
1.00	414.00	21.86%	$398,566.50	$962.72	
1.00	295.00	15.58%	$284,002.70	$962.72	
1.00	200.00	10.56%	$192,544.20	$962.72	
1.00	69.00	3.64%	$66,427.75	$962.72	
1.00	233.00	12.30%	$224,314.00	$962.72	
1.00	278.00	14.68%	$267,636.44	$962.72	
1.00	46.00	2.43%	$44,285.17	$962.72	
	1894.00	100%	$1,823,393.62		

$161,582.98	
ALLOCATION OF STRATIFIED FIELD COSTS	

EAU FACTOR	

TOTAL EAU's	
% TOTAL EAU's	

TOTAL BUDGET	

PER UNIT ASSESSMENT	
0.50	100.00	5.65%	$9,126.40	$45.63	
0.80	127.20	7.18%	$11,608.79	$73.01	
1.00	414.00	23.38%	$37,783.31	$91.26	
1.20	354.00	19.99%	$32,307.47	$109.52	
1.40	280.00	15.81%	$25,553.93	$127.77	
1.60	110.40	6.24%	$10,075.55	$146.02	
0.50	116.50	6.58%	$10,632.26	$45.63	
0.80	222.40	12.56%	$20,297.12	$73.01	
1.00	46.00	2.60%	$4,198.15	$91.26	
	1770.50	100%	$161,582.98		

				$141,658.51	
ALLOCATION OF EQUALIZED ADMIN COSTS	

EAU FACTOR	

TOTAL EAU's	

% TOTAL EAU's	

TOTAL BUDGET	

PER UNIT ASSESSMENT	
1.00	200.00	7.48%	$10,595.25	$52.98	
1.00	159.00	5.95%	$8,423.22	$52.98	
1.00	414.00	15.48%	$21,932.17	$52.98	
1.00	295.00	11.03%	$15,628.00	$52.98	
1.00	200.00	7.48%	$10,595.25	$52.98	
1.00	69.00	2.58%	$3,655.36	$52.98	

PER LOT ANNUAL ASSESSMENT	

TOTAL O&M	
2015 DEBT
SERVICE (2)	
DEBT SERVICE SERIES 2018 (2)	
DEBT SERVICE SERIES 2020 (2)	

TOTAL (3)	
$1,061.33	$879.50	$0.00	$0.00	$1,940.83	
$1,088.71	$979.50	$0.00	$0.00	$2,068.21	
$1,106.96	$1,079.50	$0.00	$0.00	$2,186.46	
$1,125.22	$1,179.50	$0.00	$0.00	$2,304.72	
$1,143.47	$1,279.50	$0.00	$0.00	$2,422.97	
$1,161.72	$1,379.50	$0.00	$0.00	$2,541.22	

6

FISCAL YEAR 2021/2022 O&M & DEBT SERVICE ASSESSMENT SCHEDULE	
.	
TOTAL O&M BUDGET		$1,999,037.00	
COLLECTION COSTS @	2%	$42,532.70	
EARLY PAYMENT DISCOUNT @	4%	$85,065.40	
TOTAL O&M ASSESSMENT		$2,126,635.11	

LESS: St. John's County Collection Costs (2%) and Early Payment Discounts (4%):	($8,499.51)		($109,403.62)		($9,694.98)	
Net Revenue to be Collected	$133,159.00		$1,713,990.00		$151,888.00	

(1)	Reflects forty-five (45) Series 2015 Prepayments.	

(2)	Reflects the number of total lots with Series 2015, Series 2018 and Series 2020 debt outstanding.	

(3)	Annual debt service assessment per lot adopted in connection with the Series 2015, Series 2018 and Series 2020 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 2021 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.	

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.