FY13/14 Proposed BudgetAVE MARIA STEWARDSHIP COMMUNITY DISTRICT
c/o Special District Services, Inc.
2501 Burns Road, Suite A
R Palm Beach Gardens, Florida 33410
D 15 (561) 630 -4922
Fax: (561) 630 -4923
May 7, 2013
VIA CERTIFIED MAIL —
RETURN RECEIPT REQUESTED
Clerk of the Circuit Court
Collier County Courthouse
3315 Tamiami Trail East
Naples, Florida 34112 -5324
Re: Ave Maria Stewardship Community District
To Whom It May Concern:
Pursuant to Florida law, enclosed please find a copy of the following document relative
to the above referenced Stewardship Community District:
1.) Proposed Budget Fiscal Year 2013/2014 (Oct. 1, 2013 — Sept. 30, 2014)
Should you have any questions or comments, please do not hesitate to contact our office.
Sincerely,
SPECIAL DISTRICT SERVICES, INC.
Laura J. Arch r
Enclosure
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Pursuant to Florida law, enclosed please find a copy of the following document relative
to the above referenced Stewardship Community District:
1.) Proposed Budget Fiscal Year 2013/2014 (Oct. 1, 2013 — Sept. 30, 2014)
Should you have any questions or comments, please do not hesitate to contact our office.
Sincerely,
SPECIAL DISTRICT SERVICES, INC.
Laura J. Arch r
Enclosure
Ave Maria Stewardship
Community District
Proposed Budget For
Fiscal Year 2013/2014
October 1, 2013 - September 30, 2014
CONTENTS
PROPOSED BUDGET
II DETAILED PROPOSED BUDGET
III DETAILED PROPOSED DEBT SERVICE FUND BUDGET
IV DETAILED PROPOSED MAINTENANCE BUDGET
V ASSESSMENT BREAKDOWN
5/8/2013 8:55 AM
PROPOSED BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT
FISCAL YEAR 2013/2014
October 1, 2013 - September 30, 2014
REVENUES
FISCAL YEAR
2013/2014
BUDGET
0 & M ASSESSMENTS
371,101
DEBT ASSESSMENTS
759,904
DEVELOPER CONTRIBUTION FOR 0 & M
1,289,686
DEVELOPER CONTRIBUTION FOR DEBT
3,255,955
OTHER REVENUES
0
1
TOTAL REVENUES
s 6,676,6461
EXPENDITURES
ADMINISTRATIVE EXPENDITURES
PAYROLL TAXES EXPENSE
612
SUPERVISORS FEES
8,000
ENGINEERING
20,000
MANAGEMENT
70,216
SECRETARIAL
4,500
LEGAL
20,000
ASSESSMENT ROLL
15,000
AUDIT FEES
8,200
ARBITRAGE REBATE FEE
1,500
TRAVEL & LODGING
1,550
INSURANCE
10,737
LEGAL ADVERTISING
1,500
MISCELLANEOUS
2,000
POSTAGE
1,750
OFFICE SUPPLIES
2,000
DUES, LICENSE, & SUBSCRIPTIONS
500
MISCELLANEOUS FILINGS, NOTICES, ETC.
1,500
WEBSITE HOSTING FEES
1,000
TRUSTEE FEES
12,000
CONTINUING DISCLOSURE FEE
5,000
METHODOLOGY REPORT
0
TOTAL ADMINISTRATIVE EXPENDITURES
187,565
MAINTENANCE EXPENDITURES
MAINTENANCE
1,445,389
MAINTENANCE /INSPECTIONS /ADMIN
0
TOTAL MAINTENANCE EXPENDITURES
1,445,
TOTAL PENDITURES
1,632,954
IE— XCESS OR SHORTFALL
4,043,691
PAYMENT O TRUSTEE
(3,958,866)
BALANCE—
$ 84,825
COUNTY APPRAISER & TAX COLLECTOR COST
(39,585)
DISCOUNTS FOR EARLY PAYMENTS
45,240
NET C S S /(SHORTFALL)
0
5WO13 8:55 AM
DETAILED PROPOSED BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT
FISCAL YEAR 2013/2014
October 1, 2013 - September 30, 2014
REVENUES
FISCAL YEAR
2011/2012
ACTUAL
FISCAL YEAR
2012/2013
BUDGET
F ALYfAA
2013/21114
BUDGET
COMMENTS
O & M ASSESSMENTS
365,691
371,101
371,101
See Detail on Page 5
DEBTASSESSMENTS
760,918
760,863
759,904
See Detail on Page 5
DEVELOPER CONTRIBUTION FOR O & M
862,821
1,289,687
1 289 686
DEVELOPER CONTRIBUTION FOR DEBT
2,164,155
3 256 532
3,M,955
OTHER REVENUES
1,368
0
:• 0
BOND PREPAYENTS RECEIVED
12,921
0
0
BOND PREPAYMENTS SENT TO TRUSTEE
(12,921)
0
p
TOTAL REVENUES
$ 4,154 953
$ 5,678,183
$1 5.676.646
EXPENDITURES
ADMINISTRATIVE EXPENDITURES
PAYROLL TAX EXPENSE
398
0
S42
New Charge Since 2012 -2013 Budget
SUPERVISORS FEES
5,200
8,000
8,000
No Change From 2012 -2013 Budget
ENGINEERING
9,060
20,000
20.000
No Change From 2012 -2013 Budget
MANAGEMENT
55,000
70,216
70,216
No Change From 2012 -2013 Budget
SECRETARIAL
2,000
4 500
4,5W
No Change From 2012 -2013 Budget
LEGAL
10,316
20,000
20 000
No Change From 2012 -2013 Budget
ASSESSMENT ROLL
15,000
15,000
1? DOG
No Chan a From 2012 -2013 Budget
AUDIT FEES
7,700
8,600
8,200
$400 Decrease From 2012 -2013 Budget
ARBITRAGE REBATE FEE
650
2,500
.1 500
$1 000 Decrease From 2012 -2013 Budget
TRAVEL & LODGING
744
2,000
1,550
$450 Decrease From 2012 -2013 Budget
INSURANCE
8,553
7,500
10.737
$3,238 Increase From 2012 -2013 Budget
LEGAL ADVERTISING
652
3,000
7: 500
$1,500 Decrease From 2012 -2013 Budget
MISCELLANEOUS
950
2,000
2
No Change From 2012 -2013 Budget
POSTAGE
1,151
1,750
1,750
No Chan a From 2012 -2013 Budget
OFFICE SUPPLIES
2,117
2,000
No Change From 2012 -2013 Bud et
DUES LICENSE & SUBSCRIPTIONS
175
500
50/3
No Change From 2012 -2013 Budget
MISCELLANEOUS FILINGS NOTICES ETC.
0
2,000
1
$500 Decrease From 2012 -2013 Budget
WEBSITE HOSTING FEES
300
1,000
' ' 1000
No Change From 2012 -2013 Budget
TRUSTEE FEES
11,314
12,000
` 1 DW
No Change From 2012 -2013 Budget
CONTINUING DISCLOSURE FEE
5,000
5.000
5
No Change From 2012 -2013 Budget
METHODOLOGY REPORT
15,000
0
V;
No Change From 2012 -2013 Budget
TOTAL ADMINISTRATIVE EXPENDITURES
$ 151,280
$ 187,666
$ 18T
MAINTENANCE EXPENDITURES
MAINTENANCE
1,011,271
1 445 389
'1
Total Maintenance - See Detail On Page 4
MAINTENANCE /INSPECTIONS/ADMIN
0
TOTAL MAINTENANCE EXPENDITURES
$ 1,011,271
$ 17445,389
'3 _
TOTAL EXPENDITURES
$ 1,162,551
$ 1,632,965
;
EXCESS OR SHORTFALL
$ 2,992,402
$ 4 045 228
$
BOND PAYMENTS
(2,887,091)
$ (3,960,331)
$ 95!#
2014 P & I Payments
BALANCE
$ 105,311
$ 84,897
$ 94,825
COUNTY APPRAISER & TAX COLLECTOR COST
(30,429)
39 619.
:M,5M
3.5% Of Total Roll 2% Appraiser, 1. 5% Collector
DISCOUNTS FOR EARLY PAYMENTS
(34,385)
45,279 )
(45,24D) =
4% Of Total Tax Roll
NET EXCESS / SHORTFALL
$ 40,496
$
$ p
5/fl2013 8:55 AM
DETAILED PROPOSED DEBT SERVICE FUND BUDGET
AVE MARIA STEWARDSHIP DEVELOPMENT DISTRICT
FISCAL YEAR 2013!2014
October 1, 2013 - September 30, 2014
REVENUES
FISCAL YEAR
2011/2012
ACTUALS
FISCAL YEAR
2012/2013
BUDGET
FISCAL YEAR
2013/2014
BUDGET
COMMENTS
Interest Income '06 Bond
0
0
0
DS Reserve Interest is now going to the Deferred Cost Account
Interest Income '12 Bond
0
0
0
DS Reserve Interest is now aoinu to the Deferred Cost Account
Net NAV Collection
717,308
703,798
702,911
Per Assessment Breakdown (page 5 less 7.5% for Discounts and Fees
Developer Contribution
2169 784
3,256,532
3 255 955
Annual Principal Payments Due =
Prepaid Bond Collection
12,921
0
0
May 1st & November 1st
Issue Date =
June 2012
Maturity Date =
Total Revenues
2,900.012
3.960.331
3.968,866
EXPENDITURES
Principal Payments 'O6 Bond
440,000
465,000
485,000
2006 Bond Principal Payment Due In 2014
Interest Payments '06 Bond
1,280,481
1 246 016
1.221,159
2006 Bond Interest Payments Due In 2014
Principal Payments '12 Bond
0
310,000
335,000
2012 Bond Principal Payment Due In 2014
Interest Payments '12 Bond)__
1.496.288
1 939 315
1,917,707
2012 Bond Interest Payments Due In 2014
Total Expenditures
3,216,769
$ 3,960.331
3 968 866
Excess ! Shortfall
$ (316,767)
;
We 13 &%—
Series 2006 Bond Information
Original Par Amount =
$26,245,000
Annual Principal Payments Due =
May 1st
Interest Rate =
5.125%
Annual Interest Payments Due =
May 1st & November 1st
Issue Date =
December 2006
Maturity Date =
May 2038
Series 2012 Bond Information
Original Par Amount =
$29,100,000
Annual Principal Payments Due =
May 1st
Interest Rate =
6.700%
Annual Interest Payments Due =
May 1st & November 1st
Issue Date =
June 2012
Maturity Date =
May 2042
We 13 &%—
DETAILED PROPOSED MAINTENANCE BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT
FISCAL YEAR 2013/2014
October 1, 2013 - September 30, 2014
5/8/2013 8:55 AM IV
FISCAL YEAR
2011/2012
ACTUAL
FISCAL YEAR
2012/2013
BUDGET
F1 L Y et :.
20341M:
BURGET
MAINTENANCE EXPENDITURES
ELECTRIC STREETLIGHTS LANDSCAPE
77,724
95,0001
90 00U'
STREET SWEEPING
55
5,000
,.s
STRIPING & TRAFFIC MARKINGS
1,190
2,00U-
STREET LIGHT MAINTENANCE
24,249
30,000---
3%W3
SIDEWALK / CURB REPAIRS
1,175
3,000
5,0001
LANDSCAPE MAINTENANCE ROADWAY, ENTRIES
MAINTENANCE CONTRACTS
453,889
530,000
50) O0
TREE TRIMMING
0
15,000
-
STORM CLEANUP
5,010
70,000
41
PLANT REPLACEMENT
31,278
40,000
35;00(3
MULCH & MISCELLANEOUS
240
73,000
MISC. UTILITIES
0
5,000
- 5
ELECTRICITY
0
0
: it
IRRIGAI "ION WATER
75,093
100,000
l90i
IRRIGATION REPAIR
13,077
12,000
-.'' : 4
ENTRY FEATURE WATER
0
0
_„
FOUNTAIN MAINTENANCE
8,984
15,000--
10
RODENT / PEST CONTROL
4,059
6,000
3T
EQUIPMENT REPAIR
0
1,000
SIGNAGE REPAIR
3,849
5,000
5000
WATER MANAGEMENT & DRAINAGE
1,068
3,000
_ -31.
STORM DRAIN CLEANING
0
10,000
DRAINAGE / LAKE MAINTENANCE/ LITTORALS
66,647
50,0
=
AERATORS
2,536
6,500
AQUATIC REPLACEMENTS
0
5,000-
`
PRESERVE MAINTENANCE
45,294
40,000:
'tom
TAXES & LICENSES
0
0-
INSURANCE
0
0
- ,:0
SMALL TOOLS
674
1,000
-_ 5
MISCELLANEOUS MAINT.
0
0
0
MISC. REPAIRS
422
5,000
10 000
VEHICLE LEASE / FUEL / REPAIRS MAINT TECH
4,171
5,000
MOSQUITO CONTROL
31,310
80,000
2 W-IV
FISH STOCKING
0
5,000-...-
TEMP FIRE FACILITY OPERA"FING COSTS
54,660
36,000
Q00
ADMINISTRATIVE SUPPLIES
-84
500
500
OFFICE LEASE
0
0
OFFICE UTILITIES
0
0
Q
MAINTENANCE TECHNICIANS
63,437
60,000;j---,.-
6QW0
BASE MANAGEMENT FEE
14,790
16 667
,: 16667
ADMIN PAYROLL
15,854
79,722
19,722-
TOTAL MAINTENANCE EXPENDITURES
990,651
1,410,389.
12414,U9-
RESERVE FUND
20,620
20,000
" 20 000
CONTINGENCY FUND
0
15,000
15;000
TOTAL
$ 1,011,271
$ 1,446,389
1,445,389
5/8/2013 8:55 AM IV
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PROPOSED AVE MARIA UTILITY BUDGET
AVE MARIA STEWARDSHIP DEVELOPMENT DISTRICT
FISCAL YEAR 2013/2014
October 1, 2013 - September 30, 2014
REVENUES
FISCAL YEAR
2011/2012
ACTUAL
FISCAL YEAR
201212013
BUDGET
FISCAL YEAR
2013/2014
BUDGET
COMMENTS
AMUC Income
279,481
260 000
270,000
ADDroximately 2/3 of Expenditures
Developer Contribution
116,667
120 000
130,000
Approximately 1/3 of Expenditures
Total Revenues
$ 390,148
$ 380,000
$ 400,000
EXPENDITURES
OMI ODerating Fee
250,631
240,000
252,000
Estimate of $21,000 per Month
AMUC Bulk Water Charge
138,978
140,000
148 000
Estimate of $12,333 per Month
Total Expenditures
$ 389,609
$ 380,000
$ 400,000
Excess / Shortfall
$ 6,639
$ -
$ -
5/8!2)13 8 :56 NA