FY14 Approved Tentative BudgetCedar Hammock Community Development District
210 N. University Drive, Suite 702, Coral Springs, Florida 33071
Telephone: (954) 753 -5841 • Fax: (954) 796 -0623
Via Federal Express
February 15, 2013
Collier County Manager f jl I ! I
Leo E. Ochs, Jr. LI(J L.
Collier County Governmental Center 11BY
3299 Tamiami Trail East, Suite 202
Naples, FL 34112 -5746
RE: Proposed Operating Budget for Fiscal Year 2014
To Whom It May Concern:
In accordance with Chapter 190.008(2)(b) of the Florida Statutes, the District is required to
submit to the local governing authorities having jurisdiction over the area included in the
District, for purposes of disclosure and information only, the proposed annual budget for the
ensuing fiscal year at least sixty (60) days prior to the public hearing.
The District's public hearing is scheduled as follows:
Date: April 18, 2013
Time: 3:00 p.m.
Place: Cedar Hammock Clubhouse
8660 Cedar Hammock Boulevard
Naples, Florida
I am pleased to enclose the District's Proposed Operating Budget for Fiscal Year 2014 as
required by statute. If you any questions or comments please feel free to contact me directly at
954- 753 -5841 ext. 3063.
Sincerely,
Mona Slaughter
Recording Secretary
Enclosure
cc: District Files (agency)
CEDAR HAMMOCK
Community Development District
Version Approved Tentative Budget:
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CEDAR HAMMOCK
Community Development District General Fund
Exhibit "A"
Allocation of Fund Balances
AVAILABLE FUNDS
Amount
Beginning Fund Balance - Fiscal Year 2014 $ 532,919
Net Change in Fund Balance - Fiscal Year 2014
Reserves - Fiscal Year 2014 Additions 117,000
Total Funds Available (Estimated) - 9/30/2014 649,919
ALLOCATION OF AVAILABLE FUNDS
Assigned Fund Balance
Operating Reserve - First Quarter Operating Capital
38,387 '
Reserves - Roadways
FY 2011 Reserve Funding
145,000
FY 2012 Reserve Funding
23,375
FY 2013 Reserve Funding
25,223
FY 2014 Reserve Funding
72,000
265,598
Reserves - Bulkheads
FY 2011 Reserve Funding
40,000
FY 2012 Reserve Funding
38,245
FY 2013 Reserve Funding
47,000
FY 2014 Reserve Funding
15,000
140,245
Reserves - Bridges
FY 2011 Reserve Funding
9,477
FY 2012 Reserve Funding
23,703
FY 2013 Reserve Funding
25,000
FY 2014 Reserve Funding
15,000
Reserves - Lakes
73,180
FY 2011 Reserve Funding
14,627
FY 2012 Reserve Funding
36,833
FY 2013 Reserve Funding
19,000
FY 2014 Reserve Funding
15,000
85,460
Subtotal
602,870
Total Allocation of Available Funds
602,870
Total Unassigned (undesignated) Cash
$
47,049
Notes
(') represents approximately 3 months of operating expenditures
Annual Operating and Debt Service Budget
Fiscal Year 2014
Cedar Hammock
Community Development District
General Fund Budget
REVENUES:
Interest Income
The District earns interest on the monthly average collected balance for their operating
accounts, money market accounts and certificates of deposits.
Special Assessments - Tax Collector
The District will levy a Non -Ad Valorem assessment on all sold and platted parcels within the
District in order to pay for the operating expenditures during the Fiscal Year.
Special Assessments - Discounts
Per Section 197.162, Florida Statues, discounts are allowed for early payment of assessments.
The budgeted amount for the fiscal year is calculated at 4% of the anticipated Non -Ad Valorem
assessments.
EXPENDITURES:
Administrative;
Prof Sery - Engineering
The District's engineer will be providing general engineering services to the District, i.e.,
attendance and preparation for monthly board meetings, review invoices, etc.
Prof Sery - Legal Services
The District's legal counsel will be providing general legal services to the District, i.e.,
attendance & preparation for monthly meetings, review operating & maintenance contracts, etc.
Prof Sery - Management Consulting Sery
The District receives Management, Accounting and Administrative services as part of a
Management Agreement with Severn Trent Environmental Services, Inc. These services are
further outlined in Exhibit "A" of the Management Agreement.
Prof Sery - Property Appraiser
The Property Appraiser provides the District with a listing of the legal description of each
property parcel within the District boundaries, and the names and addresses of the owners of such
property. The District reimburses the Property Appraiser for necessary administrative costs
incurred to provide this service. Per the Florida Statutes, administrative costs shall include, but
not be limited to, those costs associated with personnel, forms, supplies, data processing,
computer equipment, postage, and programming. The FY2014 budget for property appraiser
costs was based on 1.5% of gross assessments.
Prof Sery - Special Assessment
The District's Collection Agent will be providing financials services which include the
collection of prepaid assessments, maintenance of District's assessment roll and levying
the annual operating and maintenance assessments.
Cedar Hammock
Community Development District
General Fund Budget
Auditing Services
The District is required annually to conduct an audit of its financial records by an Independent
Certified Public Accounting Firm.
Communication - Telephone
Telephone and fax machine charges incurred.
Postage and Freight
Mailing of agenda packages, overnight deliveries, correspondence, etc.
Insurance - General Liability
The District's General Liability & Public Officials Liability Insurance policy is with The Florida
League of Cities, Inc. The Florida League of Cities, Inc. specializes in providing insurance
coverage to governmental agencies.
Printing & Binding
Printing and Binding agenda packages for board meetings, printing of computerized checks,
stationary, envelopes etc.
Legal Advertising
The District is required to advertise various notices for monthly Board meetings, public hearings,
etc. in a newspaper of general circulation.
N isc - Bank Charges
Bank analysis fees that are incurred during the year.
Misc- Assessment Collection Costs
The District reimburses the Tax Collector for her or his necessary administrative costs.
Per the Florida Statutes, administrative costs shall include, but not be limited to, those
costs associated with personnel, forms, supplies, data processing, computer equipment,
postage, and programming. The District also compensates the Tax Collector for the
actual cost of collection or 2% on the amount of special assessments collected and
remitted, whichever is greater. The FY2014 budget for collection costs was based on a
maximum of 2% of the anticipated assessment collections. .
Office Supplies
Miscellaneous office supplies required for the preparation of agenda packages.
Annual District Filing Fee
The District is required to pay an annual fee to the Department of Community Affairs for $175.
Cedar Hammock
Community Development District
General Fund Budget
Fie /d Services;
Contracts — Water Mgmt Services
Professional services for environmental permit compliance. Currently all fees associated with the
renewal of the Water Use Permit.
Contracts - Water Ouality Monitoring Services
Testing and other professional services in monitoring water quality for reporting to regulatory
agencies.
R &M - Bridge
Repair and maintenance expenses related to bridge structures.
R &M - Lake
Repair and maintenance expenses related to lakes including washout repairs and erosion.
R &M - Aquatic Plant Replacement
For replacement or addition of littoral plantings to existing lake littoral shelves in an
effort to prevent erosion and improve water quality within the lakes.
R &M - Mitigation
It is required that the District establishes a surface water quality program, which will
consist of sampling and analysis from various points within the District.
Misc- Contingency
Any current year Field expenditure that may not have been provided for in the budget.
Capital Outlay
Capital expenditures for items such as irrigation equipment or other items meeting capital
expenditure requirements with a cost of at least $1,000 and a life expectancy of at least 3 years.
Reserve - Bridges
Funds to be set aside for future bridge expenditures as determined by the BOS.
Reserve - Bulkheads
Funds to be set aside for future bulkhead expenditures as determined by the BOS.
Reserve - Lakes
Funds to be set aside for future lake expenditures as determined by the BOS.
Reserve - Roadways
Funds to be set aside for future roadway expenditures as determined by the BOS.