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06/21/2013 AgendaPort of the Islands Community Improvement District Board of Supervisors Norine Dillon, Chairperson Calvin Teague, District Manager Theodor Bissell, Vice Chairman Daniel Cox, District Counsel Richard Ziko, Assistant Secretary Ronald Benson, District Engineer Dale Lambert, Assistant Secretary Joel Anthony (Tony) Davis, Assistant Secretary Regular Meeting Agenda Friday, June 21, 2013 — 10:00 a.m. 1. Call to Order and Roll Call 2. Approval of the Minutes of the May 17, 2013 Meeting 3. Public Comment Period 4. Old Business A. Review of Landscape Maintenance Performance 5. New Business A. Discussion of Request for Assessment Reduction at 199 Evening Star Cay B. General Discussion of ERC Rules 6. District Manager's Report A. Approval of the May 31, 2013 Financial Statements and Check Register B. Report on Number of Registered Voters — 469 C. Questions and Comments on the Modified Tentative Budget for Fiscal Year 2014 D. Acceptance of the Fiscal Year 2012 Audit 7. Field Manager's Report A. Discussion of June 2013 Operations Report B. Update on Sidewalk Repairs C. Update on Repair and Maintenance Budget Report S. Attorney's Report A. Update on North Hotel Bankruytcy Proceedings B. Update on Liquidated Damages from Xlyern Water Solutions USA (ITT Technologies) 9. Engineer's Report A. Update on Lot 45 Drainage Swale Agreement 10. Supervisors' Requests 11. Public Comment Period 12. Adjournment The next meeting is scheduled for Friday, July 19, 2013, at 10:00 a.m. District Office: Severn Tread Services, Inc, 5911 Country Lakes Drive Fort Myers, Florida 33905 239 - 245.7118 http 1poicdcorn/ Meeting Location: Orchid Cove Clubhouse 25005 Peacock Lane Naples, Florida 34114 239. 430.0806 Naples Daily News Naples, FL 34110 Affidavit of Publication Naples Daily News ..__________® -,____ -____- e____.._- ___ ®d______ _ _ __ __ __ __ __ ®_- ____e__ - -m__ PORT OF THE ISLANDS 210 N UNIVERSITY DR ##702 CORAL SPRINGS FL 33071 REFERENCE: 010948 59699503 State of Florida Counties of Collier and Lee Before the undersigned authority, personall appeared Lynn Schneider, says that she serves the Order Entry Data Specialist, of the Naple Daily News, a daily newspaper published at Na in Collier County, Florida: distributed in Cc and Lee counties of Florida; that the attache copy of advertising was published in said newspaper on dates listed. Affiant further says that the said Naples D News is a newspaper published at Naples, in s Collier County, Florida, and that the said newspaper has heretofore been continuously day and has been entered as second class mail matter at the post office in Naples, in said Collier County, Florida, for a period of 1 ye next preceding the first publication of the attached copy of advertisement; and affiant further says that he has neither paid nor promised any person, firm or corporation any discount, rebate, commission or refund for th purpose of securing this advertisement for publication in the said newspaper. PUBLISHED ON: 09/28 AD SPACE: FILED ON: 66 LINE 09/28/12 Signature of Affiant Sworn to and Subscribed Personally known by me " CAROL PAWLINSKI X�MY COMMISSION # EE 45538 EXPIRES: Novem'ner 28, 2014 rt 9ondad lhru Pkhard Insurance Agancy Tea ue, Cal From: Soto <sotolawn @yahoo.com> Sent: Thursday, June 20, 2013 12:05 PM To: Teague, Cal; rcziko @embarqmail.com; dillonpoi @embarqmail.com; Edge, Robert; dalelambert@embarqmail.com; 'bissell,ted bissell'; anthony @jadavis.com Subject: June 2013 notes Walk through completed by Robert Edge and Robert Soto. • PaIIII Lr We are just about done, just a couple of Palms to be finished, due to the weather, we are falling a little behind schedule. • Soto's • Areas treated for Chinch bug activity and areas fertilize • We will be scheduling burr gins - frlttl�it'Pit t�ex wuek- tpt+ans. • We did notice some We will send out pest control tech out to treat. • I —.eek. Please note, there are some areas on 41 that cannot be mowed at his time due to saturation. Thanks, Claire Campbell Contact us: Claire info @sotolawn.com (Office) Robert robert@sotolawn.com Scott scott @sotolawn.com Donna donna @sotolawn.com Lila lila @sotolawn.com (irrigation) Tea ue, Cal From: Randel, Helena Sent: Thursday, June 20, 2013 5:40 PM To: 'Patty Singer' Cc: Teague, Cal Subject: POI Delinquent Parcels Good afternoon Patty, The records of Port of the Islands CID reflect $123,702 current year assessments outstanding as of 6120. This amount includes $119,637.51 for the hotel parcel in bankruptcy but does not include interest from the 6/11 distribution. I'm trying to identify the remaining outstanding parcel(s). Do you know if there were any distributions made or scheduled subsequent to 6/11? If not, would you have a list of parcels struck off to the county? Thank you, Helena Randel Accountant Severn Trent Services T: + 1954.753.5841 F: + 1 954.345.1292 hrandel(a.sevemtrentms.com www.severntrentservices.com PORT OF THE ISLANDS Community Improvement District Non Ad Valorem Special Assessments Collier County Tax Collector - Monthly Collection Report For the Fiscal Year ending September 2013 % Collected 921.2% 92.12% 92.12% - 1 TOTAL OUTSTANDING $ 123,702 $ 34,296 $ 89,405 *Discount taken in the 6/11 distribution was not availabe as of the date of this report. Once this information is received, ar adjustment will be made and reflected in the next set of financial statements. Year Parcel 10 Des!q!!"on Amount Comments 1.111, FY 2010 1058920500 � POI Hotel 119,627 bankruptcy FY 2011 1058920500 POI Hotel 119,627 bankruptcy FY 2012 1058920500 POI Hotel 119,638 bankruptcy Total Delinquent Percels 358,892 Report Date: 6/20/2013 Discount / Gross Date Net Amount (Penalties) Collection Amount General Water /Sewer Received Received Amount Costs Received Fund Fund Assessments Levied FY 2013 $ 1,570,427 $ 435,400 $ 1,135,027 Allocation '% 100% 28% 72% 10/30/12 $ 10,430 $ 597 $ 213 $ 11,239 $ 3,116 $ 8,123 11/14/12 $ 82,051 $ 3,488 $ 1,675 $ 87,214 $ 24,180 $ 63,034 11/29/12 $ 204,794 $ 8,707 $ 4,179 $ 217,680 $ 60,352 $ 157,328 12/13/12 $ 402,445 $ 17,027 $ 8,213 $ 427,685 $ 118,576 $ 309,110 12/27/12 5 26,778 832 547 28,156 7,806 20,350 01/31/13 $ 100,965 2,639 2,061 105,665 29,295 76,369 02/27/13 $ 25,024 352 511 25,886 7,177 18,709 04/10/13 $ 309,858 87 6,324 316,268 87,685 228,583 04/30/13 $ 139,600 $ (220) 2,849 142,229 39,433 102,796 05/24/13 $ 6,783 $ (202) 138 6,720 1,863 4,857 06/11/13 $ 76,423 1,560 77,983 21,621 56,362 TOTAL $ 1,385,150 $ 33,307 $ 28,268 $ 1,446,725 $ 401,104 $ 1,045,621 % Collected 921.2% 92.12% 92.12% - 1 TOTAL OUTSTANDING $ 123,702 $ 34,296 $ 89,405 *Discount taken in the 6/11 distribution was not availabe as of the date of this report. Once this information is received, ar adjustment will be made and reflected in the next set of financial statements. Year Parcel 10 Des!q!!"on Amount Comments 1.111, FY 2010 1058920500 � POI Hotel 119,627 bankruptcy FY 2011 1058920500 POI Hotel 119,627 bankruptcy FY 2012 1058920500 POI Hotel 119,638 bankruptcy Total Delinquent Percels 358,892 Report Date: 6/20/2013 Port of the Islands Community Improvement District Fnancia/ Report May 31, 2013 Prepared by PORT OF THE ISLANDS Community Improvement District Table of Contents FINANCIAL STATEMENTS Balance Sheet - All Funds - g - General Fund Statement of Revenues, Expenditures and Changes in Fund Balance ....;........ Page 3 - 4 Trend Report . ..... Page 5 Enterprise Fund Statement of Revenues, Expenditures and Changes in Fund Balance .. ........... ,. Page 6 - 7 Trend Report ...... ......... ......... Page 8 - 9 SUPPORTING SCHEDULES Check Register ............ _, .. Page 10 Special Assessments - Collection Schedule ................. .................. ....:.... Page 11 Construction Schedule ...I ........ ......... .......... ......... Page 12 - 13 CIPStatus Report ...................:..:.... ......I.....>...............,.. Page 14 - 15 Cash Flow Projections ............... ........... , >.: >........,,...... Page 16 - 18 Cash Flow Projections - 5 year ............ ......... ......:. ........: ......... Page 19 Monthly Activity Report ............ ........ ......... Page 20 - 25 Accounts Receivable Ageing Report (90+ days outstanding) ....... ......... ......... .......: Page 26 - 27 Repair and Maintenance Detail Reports ............ ........ Page 28 - 34 Port of the Islands Community Improvement District Financial Statements (Unaudited) May 31, 2013 PORT OF THE ISLANDS Community Improvement District Governmental and Enterprise Funds Balance Sheet May 31, 2013 Noncurrent Assets 49,854 WATER AND Fixed Assets ACCOUNT DESCRIPTION GENERAL FUND SEWER FUND TOTAL 293,061 Infrastructure 15,206,161 15,206,161 ASSETS (3,632,962) (3,632,962) Equipment and Furniture Current Assets 226,308 Accum Depr - Equip /Furniture (81,850) Cash - Checking Account $ 363,622 $ 81,403 $ 445,025 Accounts Receivable 567 - 567 Assessments Receivable 99,460 259,432 358,892 Allow - Doubtful Collections (99,460) (259,432) (358,892) Interest/Dividend Receivables 665 - 665 Due From Other Funds 267,199 - 267,199 Investments: Certificates of Deposit - 18 Months 151,050 151,050 Money Market Account 568,715 6,588 575,303 SBA Account 3,437 684 4,121 SBA Account - Restricted 8,040 16,769 24,809 SBA Account Reserves 2,311 2,311 SBA Account Reserves - Restricted 965 965 Construction Fund - 195,789 195,789 FMV Adjustment 867 1,614 2,461..... Total Current Assets 1,367,438 302,847 1,670,285 Noncurrent Assets 49,854 9,266 2,374 Fixed Assets - 32,750 32,750 Land 293,061 293,061 Infrastructure 15,206,161 15,206,161 Accum Depr - Infrastructure (3,632,962) (3,632,962) Equipment and Furniture - 226,308 226,308 Accum Depr - Equip /Furniture (81,850) (81,850) Construction Work In Process 9,080 9,080 Bond Issuance Cost 42,700 42,700 Acc Amort - Bond Issuance Cost - (11,079) (11,079) Total Noncurrent Assets 12,051,419 12,051,419 TOTAL ASSETS $ 1;367 438 $ 12,364,266 S 13,721,704 LIABILITIES Current Liabilities Accounts Payable Accrued Expenses Deposits Other Current Liabilities Revenue Bonds Payable- Current Due To Other Funds Total Current Liabilities Report Date: 6/11/2013 $ 14,885 $ 34,969 $ 49,854 9,266 2,374 11,640 - 32,750 32,750 4,452 4,452 514,758 514,758 267,199 267,199 24,151 856;502 880,653 PORT OF THE ISLANDS Community Improvement District Governmental and Enterprise Funds Balance Sheet May 31, 2013 WATER AND ACCOUNT DESCRIPTION GENERAL FUND SEWER FUND TOTAL - Long -Term Liabilities Revenue Bonds Payabie -LT 3,490,972 3,490,972 Total Long -Term Liabilities 3,490,972 3,490,972 TtiTAL LIABILITIES 241151 4,347,474 4,371,625 FUND BALANCES / NET ASSETS Fund Balances Assigned: Operating Reserve 103,815 103,815 Unassigned: 1,239,472 1,239,472 Net Assets Invested in capital assets, net of related debt 8,045,689 8,045,689 Unrestricted/Unreserved (98,897) 38,897 Report Date: 6/1112013 2 PORT OF THE ISLANDS Community Improvement District General Fund Statement of Revenues, Expenditures and Changes in Fund Balances For the Period Ending May 31, 2013 ANNUAL YTD ACTUAL ADOPTED YEAR TO DATE YEAR TO DATE VARIANCE {f) AS A % OF MAY -13 ACCOUNT DESCRIPTION BUDGET BUDGET ACTUAL FAV(UNFAV) ADOPTED BUD ACTUAL REVENUES Interest - Investments $ 2,177 $ 1,451 $ 1,436 $ (15) 65.96% $ 1 Net Incr (Decr) In FMV- Invest - - 1,588 1,588 0.00% 8,333 Interest - Tax Collector 7,000 4,500 15 15 0.00% 500 Special Assmnts- Tax Collector 435,400 435,400 379,483 (55,917) 87.16% 1,863 Special Assmnts- Discounts (17,416) (17,416) (9,234) 8,182 53.02% 56 Other Miscellaneous Revenues - - 1,575 1,575 0.00% 310 TOTAL REVENUES 420,161 419,435 374,663 44,372) 891ft 1,920 EXPENDITURES Administration 100,000 66,667 66,795 (128) 66.80% 8,333 P/R -Board of Supervisors 7,000 4,500 4,900 (400) 70.00% 500 FICA Taxes 536 345 375 (30) 69.96% 38 ProfServ- Engineering 26,000 17,333 11,078 6,255 42.61% 806 ProfServ-Legal Services 12,500 8,333 19,104 (10,771) 152.83% 310 ProfServ-Mgmt Consulting Sery 28,365 18,910 18,910 2,667 66.67% 2,364 ProfServ- Property Appraiser 6,531 6,531 6,531 667 100.00% - ProfServ- Special Assessment 9,243 9,243 9,243 47,263 100.00% Auditing Services 3,750 3,750 152,024 3,750 0.00% 19,925 Communication - Telephone 100 67 13 54 13.00% 24,125 Postage and Freight 1,500 1,000 715 285 47.67% 56 Rental - Meeting Room 350 225 200 25 57.14% 25 Insurance - General Liability 8,844 6,633 6,156 477 69.61% Printing and Binding 2,000 1,333 483 850 24.15% 61 Legal Advertising 2,200 1,467 135 1,332 6.14% Miscellaneous Services 1,375 917 415 502 30.18 Misc - Assessmnt Collection Cost 8,708 6,708 7,405 1,303 85.04% 38 Misc -Web Hosting 1,000 667 667 0.00% - Office Supplies 650 433 70 363 10.77% Annual District Filing Fee 175 175. 175 100.00% Total Administration 120,827 90,570 X85,908 4,662 71.10% 4,200 Field Contracts -Mgmt Services 100,000 66,667 66,795 (128) 66.80% 8,333 Contracts- Landscape 79,440 52,960 54,922 (1,962) 69.14% 6,902 Electricity - Streetiighting 16,500 11,000 12,464 (1,464) 75.54% 1,328 Utility - Irrigation 12,600 8,400 9,200 (800) 73.029/6 1,221 R &M- Renewal and Replacement 10,000 6,667 8,643 (1,976) 86.43% 2,141 R &M -Roads & Alleyways 4,000 2,667 - 2,667 0.00% R &M- Signage 1,000 667 667 0.00% Capital Outlay 70,894 47,263 47,263 0.00% Total Fleld 294,434 196,291 152,024 44,267 51,63% 19,925 TOTAL EXPENDITURES 415,261 288 81 237,932 48,929 67,309s 24,125 Report Date: 6111/2013 3 PORT OF THE ISLANDS Community Improvement District General Fund Statement of Revenues, Expenditures and Changes in Fund Balances For the Period Ending May 31, 2013 ANNUAL YTD ACTUAL ADOPTED YEAR TO DATE YEAR TO DATE VARIANCE ($) AS A % OF MAY -13 ACCOUNT DESCRIPTION BUDGET BUDGET ACTUAL FAV(UNFAV) ADOPTED BUD ACTUAL, Excess (deficiency) of revenues Over (under) expenditures 4,900 132,574 136,931 - 4,357 2794.51% (22,205) OTHER FINANCING SOURCES (USES) Contribution to (Use of) Fund Balance 4,900 - - 0.00% TOTAL FINANCING SOURCES USES 4,900 - - 0.00% Net change in fund balance $ 4,900 $ 132,574 $ 136,931 $ 4,357 2794.51% $ (22,205) FUND BALANCE, BEGINNING (OCT 1, 2012) 1,206,356 1,206,356 1,206,356 FUND BALANCE, ENDING $ 1,211,256 $ 1,336,930 $ 1,343,287 Report Date: 6/11/2013 4 PORT OF THE ISLANDS Community Improvement District 0,333 8;333 8,333 8,333 Genera( Fund Statement of Revenues, Expenditures and Changes in Fund Balances 8,462 8,333 66,795 100,000 Trend Report 500 500 1,000 400 For the Period Ending May 31, 2013 1,000 500 500 4,900 7,000 FICA Taxes 38 38 77 Oct Nov Dec Jan Feb Mar Apr May Actualihru Adopted Account Desalptlon Actual Actual Actual Actual Actual Actual Actual Actual 913112013 Budget - 2,643 - 806 11,078 26,000 Revenues - 2,557 3,490 8,069 1,497 Interest- Investments S 241 $ 211 S 218 S 218 $ 167 $ 193 S 187 S 1 $ 1,436 S 2,177 Net Ina (Dea) In FMV- Invest 177 195 124 585 (28) 250 285 2,364 1,588 - Interest - Tax Collector - 2,364 - - 15 28;365 Profserv- Properly Appraiser 15 SpecialAssmnts- TaxCdlector 3,116 84,532 126,382 29,295 7,177 127,118 1,863 379,483 435,400 Special Assmnts- Discounts (166) (3,381) (4,951) (732) (98) 37 56 (9,234) (17,416) Other Miscellaneous Revenues 315 1,260 _ - 1,575 Total Revenues 3,366 61,872 121,773 _30,6287,233 443 127,827 1,920 374,863 420,181 Expenditures 0,333 8;333 8,333 8,333 8,333 8,3333 8,462 8,333 66,795 100,000 Administrathre P /R- Boardof Supervisors 500 500 1,000 400 500 1,000 500 500 4,900 7,000 FICA Taxes 38 38 77 31 38 77 38 38 375 536 ProfServ- Engineering 31 - - 7,629 - 2,643 - 806 11,078 26,000 Profserv- legal Services - 2,557 3,490 8,069 1,497 1,402 1,780 310 19,104 12,500 ProfServ-Mgmt Consulting Sery 2,364 2,364 2,364 2,364 2,364 2,364 2,364 2,364 18,910 28;365 Profserv- Properly Appraiser - 6,531 - 6,531 6,531 ProfServ- Spedal Assessment - 9,243 _ 9,243 9,243 Auditing Services - 3,750 Communication - Telephone 1 8 - 3 18,557 18,054 22 520 - 13 100 Postage and Freight 74 218 57 82 80 69 77 58 715 1,500 Rental - Meeting Room 25 25 25 25 25 25 25 25 200 350 Insurance - General Liability 1,947 - 1,947 - 1,947 317 - 6,156 8,844 Pdntmg and Binding 64 54 119 119 56 - 61 483 2,000 Legal Advertising - 135 '' ' 135 2,200 Miscellaneous Services 59 97 85 169 - 6 - - 415 1,375 Misc- Assessmnt Collection Cost 59 1,623 2,429 571 142 2;543 38 7,405 8,708 1,000 Msc -Web Hosting - _ - 24 - 23 23 70 650 Office Supplies - _ Annual District Filing Fee 175 - - - 175 175 Total Administrative 5,305 7,484 18,140 28,729 4,786 9,622 7,644 4,200 65,908 120,827 Field Con tracts-Mgmt Services 0,333 8;333 8,333 8,333 8,333 8,3333 8,462 8,333 66,795 100,000 Contracts- landscape 6,620 6,620 6,620 6,902 6,902 7,452 6,902 6,902 54,922 79,440 Electricity - Streetlighling 1,490 1,561 1,693 1,636 1,621 1,574 1,561 1,328 12,464 16,500 Utility - irrigation 31 264 1,350 1,626 1,701 1,275 1,734 1,221 9,200 12,600 R&M- Renewal and Replacement 352 927 478 664 220 3,861 2,141 8,643 10,000 R&M -Roads & Alleyways » - 4,000 1,000 R&M- Signage _ 70,894 Capital Outlay Total Field 16826 17,705 18,474 18;161 18,557 18,054 22 520 19,925 152,024 294,434 Total Expenditures 22,132 25,189 36,614 47,890 23,345 28,476 30,164 24,125 237,932 415,261 Excess (deficiency) of revenues Over(under)expenditures $ (18,764) $ 56,683 5 85,159 $ (17,264) $ (16,112) S (28,033) $ 97,463 $ (22,205) 136,931 4,900 FUND BALANCE, BEGINNING (OCT 1, 2012) 1,206,356 1,206,356 FUND BALANCE, ENDING $1,343,287 $,1,211,256 Prepared by. 5 Report Date: 6/11/2013 Severn Trent Management Services PORT OF THE ISLANDS Community Improvement District Water And Sewer Fund Statement of Revenues, Expenses and Changes In Net Assets For the Period Ending May 31, 2013 ANNUAL YTD ACTUAL ADOPTED YEAR TO DATE YEAR TO DATE VARIANCE ($) AS A % OF MAY -13 ACCOUNT DESCRIPTION BUDGET BUDGET ACTUAL FAV(UNFAV) ADOPTED BUD ACTUAL OPERATING REVENUES Interest - Investments $ 2,838 $ 1,892 $ 221 $ (1,671) 7.79% $ Contracts -Mgmt Services Water Revenue 43,000 28,667 31,318 2,651 72.83% 3,728 Sewer Revenue 65,000 43,336 49,376 6,040 75.96% 6,012 Irrigation Fees 100,000 66,667 66,413 (254) 66.41% 9,519 Net Incr (Deer) In FMV- Invest 26,000 - 2,958 2,958 0.00% 806 SpecialAssmnts- TaxCollector 1,135,025 1,135,025 989,259 (145,766) 87.16% 4,857 Special Assmnts- Discounts (45,401) (45,401) (24,073) 21,328 53.02% 146 Other Miscellaneous Revenues 17,025 17,025 5,185 5,185 0.00% 425 TOTALOPERATINGREVENUES 1300,482 1,230,186 1120657 (109> 29 ) 86:17% 24,687 OPERATING EXPENSES Contracts -Mgmt Services Personnel and Administration 206,355 206,749 (394) 66.79% 25,794 Contracts -Other Services 2,000 P/8-Board of Supervisors 7,000 4,500 4,900 (400) 70.00% 500 FICA Taxes 536 345 375 (30) 69.96% 38 ProlServ- Engineering 26,000 17,333 11,078 6,255 42.61% 806 ProfServ-Legal Services 12,500 8,333 19,104 (10,771) 152.83% 310 ProlServ-Mgmt Consulting Sery 28,482 18,988 18,988 140.48% 66.67% 2,374 ProlServ- Property Appraiser 17,025 17,025 17,025 - 100.00% 4,500 ProlServ- Special Assessment 7,885 7,885 7,885 Cap Outlay- Irrigation 100.00% Auditing Services 3,750 3,750 Cap Outlay -Water Plant 3,750 0.00% 125,730 _____(22,397L Communication - Telephone 100 67 13 54 13.00% 96.36% Postage and Freight 1,000 667 471 196 47.10% 39 Rental - Meeting Room 350 225 200 25 57.14% 25 Insurance - General Liability 8,270 6,203 5,757 446 69.61% - Printing and Binding 1,500 1,000 362 638 24.13% 46 Legal Advertising 1,600 1,067 98 969 6.13% Miscellaneous Services 2,050 1,367 1,653 (286) 80.63% 171 Misc- Assessmnt Collection Cost 22,701 22,701 19,304 3,397 85.04% 100 Office Supplies X750 500 82 - 418 , 10.93% Total Personnel and Administration 141,499 111.956 107,295 4,661 75.83% X4.409 Water -Sewer Comb Services Contracts -Mgmt Services 309,533 206,355 206,749 (394) 66.79% 25,794 Contracts -Other Services 2,000 2,000 1,750 250 87.50% Communication - Teleph - Field 4,512 3,008 2,817 191 62.43% 299 Utility - General 80,000 53,333 55,188 (1,855) 68.99% 6,121 R &M- Irrigation 10,000 6,667 7,623 (956) 76.23% 1,448 R &M -Water Plant 10,000 6,667 17,041 (10,374) 170.41% 2,664 R &M -Waste Water Plant 9,866 6,577 13,860 (7,283) 140.48% (3,498) Misc -Bad Debt 1,267 (1,267) 0.00% - Misc- Licenses & Permits 4,500 4,500 3,375 1,125 75.00% - Cap Outlay- Irrigation 27,516 (27,516) 0.00% 1,600 Cap Outlay -Water Plant 50,000 33,333 125,730 _____(22,397L 251.46 Total Water -Sewer Comb Services 480.411 322,440 462.916 140,476) 96.36% 34,428 , Report Date: 6/11/2013 6 PORT OF THE ISLANDS Community Improvement District Water And Sewer Fund Statement of Revenues, Expenses and Changes in Net Assets For the Period Ending May 31, 2013 ANNUAL YTO ACTUAL ADOPTED YEAR TO DATE YEAR TO DATE VARIANCE (S) AS A %OF MAY -13 ACCOUNT DESCRIPTION BUDGET BUDGET ACTUAL_ FAV(UNFAV) ADOPTED BUD ACTUAL Debt Service Principal Debt Retirement 497,303 497,303 497,303 0.00% Interest Expense 158,056 158,056 92,2D0 65,856 58.33% 79,028 Total Debt Service 655,359 655,359 92,200 563,159 14.071/6 79,028 TOTAL OPERATING EXPENSES 1,277„289 1,089758 652,411 427;344 SIM 1178&5 Operating income (loss) 23,193 140,431 458,246 317,815 1975.79% (93,178) Change in net assets $ 23,193 $ 140,431 $ 458,246 $ 317,815 1975.79% $ TOTAL NET ASSETS, BEGINNING (OCT 1, 2012) 7,548,546 7,548,546 7,548,546 TOTAL NET ASSETS, ENDING $ 7,571,739 $ 7,888,977 $ Hem Report Date: 6/11/2013 7 PORT OF THE ISLANDS Community Improvement District Statement of Revenues, Expenses and Changes in Net Assets Trend Report For the Period Ending May 31, 2013 Water And Sewer Fund TOTAL Account Description Oct Actual Nov Actual Dec Actual Jan Actual Fab Actual Mar Actual Apr Actual May Actual AdualThru 513112013 Adoptad Budget Ooeratino Revenues 25,794 25,794 25,794 25,794 25,794 25,794 26,188 25,794 206,749 309,533 Interest - Investments S 48 $ 38 S 36 S 31 S 22 $ 23 S 24 $ - $ 221 $ 2,838 Water Revenue 1,813 2,981 3,758 4,119 5,734 3,672 5;513 3,728 31,318 43,000 Sewer Revenue 2,895 4,883 5,879 6,516 8,950 5,813 8,427 6,012 49,376 65,000 Irrigation Fees 4,502 5,610 8,827 10,459 10,344 7,160 9,995 9,519 66,413 100,000 Net incr (Deer) In FMV- Invest 329 363 232 1,089 (52) 466 531 - 2,958 13,000 SpecialAssmnts - Tax Collector 8,123 220,362 329,460 76,369 18,709 331,379 4,857 989,259 1,135,025 Special Assmms- Discounts (432) (8;814) (12,907) (1,907) (254) 96 146 (24,073) (45,401) Other Miscellaneous Revenues 525 475 585 1,780 485 510 400 425 5,185 - Total Operating Revenues 17,803 225,898 335,870 96,456 43,938 17,844 356,365 24,687 1,120,657 1,300,462 Ooeradna Expenses 10,182 48,585 33,618 33,345 125,730 50,000 Personnel and Administration 46,963 51,167 83,702 98,763 79,181 34,029 34,684 34,426 462,916 480,411 PIR -Board of Supervisors 500 500 1,000 400 500 1,000 500 500 4,900 7,000 FICATaxes 38 38 77 31 38 77 38 38 375 536 ProlServ- Engineering - 7,629 2,643 806 11,078 26,000 ProfServ-Legal Services - 2,557 3,490 8,069 1,497 1,402 1,780 310 19,104 12,500 ProfServ- MgmtConsulting Sery 2374 2,374 2,374 2,374 2,374 2,374 2,374 2;374 18,986 28,482 PmfServ- Property Appraiser - 17,025 - 17,025 17,025 ProfServ- Special Assessment - 7,885 7,885 7,885 Auditing Services - _ - - _ 3,750 Communication - Telephone 1 8 3 - 13 100 Postage and Freight 49 145 38 55 53 42 50 39 471 1,000 Rental - Meeting Room 25 25 25 25 25 25 25 25 200 350 Insurance - General Liability 1,820 - 1,820 - - 1,820 296 5,757 8,270 Printing and Binding 48 41 - 90 89 49 - 46 362 1,500 Legal Advertising - 98 - - - 98 1,600 Miscellaneous Services 159 216 236 211 265 196 199 171 1,653 2,050 Misc- Assessmnt Collect(on Cost 154 4,231 6,331 1,489 369 6,630 100 19,304 22,701 Office Supplies w 28 27 27 82 750 Total Personnel and Administration 5,168 10,135 32.594 28,289 5,237 9,655 11,892 4409 107,295 141,499 Water•SewerCamp Services Contracts-Mgmt Services 25,794 25,794 25,794 25,794 25,794 25,794 26,188 25,794 206,749 309,533 Contracts -Other Services - - 1,750 - 1,750 2,000 Communication - Teleph - Field 754 281 296 303 298 251 337 299 2,817 4,512 Utility - General 5,923 6,172 6,580 6,596 7,929 7,984 7,884 6,121 55,188 80,000 R &M- Irrigation - 330 1,025 241 2,521 - 2,058 1,448 7,623 10,000 R &M -Water Plant 1,707 (1,631) 5,703 3,942 4,657 2,664 17,041 13,000 R &M -Waste Water Plant 14,492 6,701 (322) 592 4,085 (8,190) (3,498) 13,660 9,866 Misc•Bad Debt - 1,267 1,267 - Misc-Licenses & Permits 3,375 - - 3,375 4,500 Cap Outlay- Irrigation - 25,916 - 1,600 27,516 Cap Outlay -Water Plant 10,182 48,585 33,618 33,345 125,730 50,000 Total Water -Sewer Comb Services 46,963 51,167 83,702 98,763 79,181 34,029 34,684 34,426 462,916 480,411 Debt swice Principal Debt Retirement - 497,303 Interest Expense 13,171 - - 79,028 92,200 158,056 Total Debt Service 13,171 _ - 79,028 92,200 855,359 Prepared by: 8 Report Date: 6!1112013 Sevem Trent Management Services PORT OF THE ISLANDS Water And Sewer Fund Community Improvement District Statement of Revenues, Expenses and Changes In Net Assets Trend Report For the Period Ending May 31, 2013 TOTAL Oct Nov Dec Jan Fab Mar Apr May Actual Thru Adopted Account Description Actual - - -- Actual Actual Actual Actual Actual Actual Actual 513WOU Budget Total Operating Expenses 52,131 74,473 116,216 127,052 64,416 43,564 46,576 117,865 662,411 1,277,269 Operating income (loss) S (34,328) $ 151,425 $ 219,654 $ (28,596) S (40,480) $ 26.040) $, 309,789 $ (93,178) 456,246 23,193 TOTAL NET ASSETS, BEGINNING (OCT 1, 2012) TOTAL NET ASSETS, ENDING 7,548,546 7,546,545 $ 8,008,792 $ 7,571,739 Prepared by: 8 Report Date: 6/11/2013 Severn Trent Management Services Port of the Islands Community Improvement District Supporting Schedules May 31, 2013 ion °o o n a ri nto i. rw r� 0 ou. o � o Ci o n 0 rn o 0 Q. O 117 11 *- m O wOC'f 1 "i• ' to m N w w . 0 wowo° w°w p m ' w M aw N w w H er H » �F to en us 0 0 0 0 0 0 0 N N 1(7 In N N 1n 0 0 0 0 0 0 0 0 0 N il') N I(1 1� M to it7 N Im 10 in � �f'J it') In tL N N N z t � LL C7 p C mm ym U U w m mm mm U U C a � g w j e <O c rn `M LL E LL m 4 L> m J J E a LL c e2t 1 9 a.aaacLcL4 am(L m0-m 8 8� 0 N N 2 0 N M a o ¢ a 0 4 e 00 C7 LLU' Cw9 � O �y is 6 V a� m o� of 4a U p p a� m to to ❑ ❑ N 0 O o 0 0 o W d J O Z Z o 0 0 o Z Z N N N N z> a a a a p C C C c a N N N N 7 >' . a* a WLL, Cp �z as 54 ,$C, z z <u<�� z iA �o $ z > > >�i o aaaaa koa > > > > >aa u� w O m N ) > > >> oz as a w O t$ ai V F0) Fr ca 2 Z~ Z a s �° �° �° C7 'C O a W W o W W W W M M M M .-i m m m N N N N N W W a t�v ai W W W W~ a W W m 1N O C LL LL w W W W Qe � n N O pO W W W W 0 O LL LL V NN N q Q Q O In d. � o a H uYj Z Z Z Z 2' Y Z Y t�m_p{ 4 ((d� Z2 o f 0 L? Q J J v E E i2 S r J v it E L w O N Z m N W M N n N m V 99N A g -q 9 9 , m W m P> m Cl m m N m 0� 0 Q Q Q Q Q N m m N N !7 eN{ 10 01 W w w W W W W w U U U U U U U U a a z cwn rwn m rwn U 0 w o (wil U N U Z Z Z Z z z z U Z Z Z Z O 2 2 2 2 0 0 0 0 ¢ K 2 m Ziz 2 y Q r w 0 0 0 m 6 00: .2' O $ > `�zW r W z w > > 7 > Z w w W ai W, O zp � U mO Y w w W W U Z Z Z Z U U wR' wQ' m fA m Y _J < N❑ of U X X z O Z Z Z Z Z Q— U U r 'a w w w w i F H F F w S Qp W D U F' ~ 2 2 K .da ❑ ❑ Q w w Z O 2 S Z❑ ❑~ ❑ W W r r Q Z Z Z Z Z LL 0) w W W W W W zy>> O r W S Z .�i U' W W W Q w w w w Z W a, Q Z �i >>>y w w r W Z❑ J z w 0 =+ a H❑ Q O❑ LL y M fA to F O K Z OC K ❑❑ LL 2 J M fU N fA fA fn fn M Z cn cn M v v co v v` a `v `v a 'i m_ m_ v m m c`v Z. M gi ul m th l+1 m cn m m m c� cn m 'vim a v v 'v Z�� Z 0 N r ¢i 0 0 0 0 0 0 0 u� vii 0 0 0 0 0 VA 5 vi 5 5 5 5 5 :n ui 0 0 0 0 0 0 4. a N y Z ull a W o 0 0 o o 0 o 0 0 0 0 0 0 0 o 0 0 0 o 0 0 0 0 0 a ? 0 0 0 0 0 0 0 0 0 0 0 0 0 v o a er v v v v v v a c PORT OF THE ISLANDS Community Improvement District Non -Ad Valorem Special Assessments Collier County Tax Collector - Monthly Collection Report For the Fiscal Year ending September 2013 %Collected 87.16% 87.16% 87.16% TOTAL OUTSTANDING $ 201,6841$ S5,917 1 $ 145,767 Year Parcel ID Description Amount Comments FY 2010 1058920500 POI Hotel 119,627 bankruptcy FY 2011 1058920500 POI Hotel 119,627 bankruptcy FY 2012 1058920500 POI Hotel 119,638 bankruptcy Total Delinquent Parcels 858,892 Report Date; 6/12/2013 11 ALLOCATION BY FUND Discount / Gross Date Net Amount (Penalties) Collection Amount General Water /Sewer Received Received Amount Costs Received Fund Fund Assessments Levied FY 2013 $ 1,570,427 $ 435,400 $ 1,135,027 Allocation % 100% 28% 72% 10130/12 $ 10,430 $ 597 $ 213 $ 11,239 $ 3,116 $ 8,123 11/14/12 5 82,051 $ 3,488 $ 1,675 $ 87,214 $ 24,180 $ 63,034 "' 11/29/12 $ 204,794 $ 8,707 $ 4,179 $ 217,680' $ 60,352 $ 157,328 12/13/12 $ 402,445 $ 17,027 $ 8,213 $ 427,685 $ 118,576 $ 309,110 12/27/12 $ 26,778 832 547 28,1S6 7,806 20,350 01/31/13 $ 100,965 2,639 2,061 105,665 29,295 76,369 02/27/13 $ 25,024 352 511 251886 7,177 18,709 04/10/13 $ 309,858 87 6,324 316,269 87,685 ; 228,583 04/30/13 $ 139,600 $ (220) 2,849 142,229 39,433 102,796 05/24/13 $ 6,783 5 (202) 138 6,720" 1,863 4,857 TOTAL $ 1,308,727 $ 33,307 $ 26,709 $ 1,366,743 $ 379,483$ 989,259 %Collected 87.16% 87.16% 87.16% TOTAL OUTSTANDING $ 201,6841$ S5,917 1 $ 145,767 Year Parcel ID Description Amount Comments FY 2010 1058920500 POI Hotel 119,627 bankruptcy FY 2011 1058920500 POI Hotel 119,627 bankruptcy FY 2012 1058920500 POI Hotel 119,638 bankruptcy Total Delinquent Parcels 858,892 Report Date; 6/12/2013 11 Port of the Islands Community Improvement District Series 2010 Special Assessment Revenue Bond 1. Recap of Capital Project Fund Activity Through May 31, 2013 Bond Issued (Construction Account) $ 5,500,000 Source of Funds: Interest Earned $ 8,216 Use of Funds: COI COI (coats transferred to checking account but not yet paid) Disbursements Water Treatment Plant Adjusted Balance in Construction Account May 31, 2013 2. Funds Available For Construction at May 31, 2013 Book Balance of Construction Account at May 31, 2013 Construction Funds available at May 31, 2013 3. Investments - BB &T at May 31, 2013 Estimated Tvoe Yiel Construction Fund: 0.120/0 $ (42,700) $ (5,000) $ (5,264,747) (5 ^312,447 $ 195,769 $ 195,769 195,769 ADJ: Outstanding Amounts Due Balance at May 31, 2013 4. General Bond Information Issued: 2010 Matures: 2020 Bond Interest Rate: 3.51 % FY 2013 budgeted bond payment as % of total assessments: 41 % Prin i I $ 195,789 $ 195,789 12 Port of the Islands Community Improvement District Construction Schedule CO: 10120/10 Greenberg Traurig $ 10,000:00 S 10,00000 Gol 10/20/10 BB &T $ 2,700,00 $ 2,700.00 col 10/20110 Severn Trent Management Svcs $ 15,000.00 $ 15,000.00 COI 11/02/10 Dan Cox $ 15,000.00 S 15,000.00 1 11109110 Part of the Islands CID (reimb) $ 321,537,00 $ 321,537.00 $ 321,537.00 2 1111 8/10 South Florida Excavation $ 26,503,75 $ 26,503,75 $ 26,503,75 3 11124/10 Naples Daily Nava $ 151.02 $ 151.02 $ 151..02 4 0110411 i Century Link $ 26,310.68 $ 29,310.88 $ 26,310:88 5 12/18/10 South Florida Excavation $ 18,008.90 It i8,008.90 $ 18,00990, 6 02101/1-1 Hole Manisa $ 2,561.25 S 2,561.25 S 2,561,25 7 02/01111 Hole Mantes $ 16,200,00 S 16,200.00 $ 16,200.00 8 02!01111 Hole Monies $ 13,205,91 $ 13,20$.91 $ 13,206.91 9 02!10111 Benchmark EnvlroAnatytical, Inc. S 1,019:C0 $ 11018,00 $ 1,019.00 10 02117111 Hole Mantes $ 1,982.50 $ 1,982.50 $ 1,982.50 11 03107111 Hole Monies S 6,25000 it 6,250.0(1 $ 6,250.00 12 0311 &11 South Florida Excavation $ 12JG2.W $ 12,762.00 $ 12,762,00 13 03/29/11 Cardinal Contractors $ 27,000.00 $ 27,000.00 $ 27,000.,00 14 0410&11 Hole Mantes $ 13,85000 $ 13,850.00 S 13,850.00 15 05/0511 i South Florida Excavation $ 18,587.25 8 18,587,25 $ 18,58725 16 0 616111 Cardinal Contractors $ 95,028.60 $ 95,028.60 S 95,028.60 17 05!19111 Hole Mantes $ 39,565.00 $ 39,565.00 5 39,585.00 16 0 6/14111 KW Controls $ 1,038.60 $ 1,038,60 $ 1,030.60 19 0 6/14111 Cardinal Contractors $ 196,572,08 $ 196,57208 $ 196,57206 20 0710 6111 Hole Mantes ' S 19,575,00 $ 19,575.00 $ 19,675,00 21 07722/11 Cardinal Contractors $ 170,192:15 $ 170,19215 $ 170,192.15 22 0727/11 Hole Mantes $ 22,325.00 $ 22,325.00 S 22,325,00 23 0 8/19111 Cardinal Contractors $ 156,352.50 $ 156,352,50 $ 156,352.50 24 0&30111 Hole Monies $ 19,700.00 $ 19,700.00 S 19,700.00 25 0911 6111 South Florida Excavation $ 6,971.40 $ 8,97140 $ 8,971.40 28 09M &11 South Florida Excavation $ 4;601:85 $ 4,601.85 $ 4,601..85 27 0911 (VI t Cardinal Contractors $ 278,69277 $ 278,892.77 $ 278,892.77 28 09727/11 Michael Evans Computers $ 3,255.00 $ 3,255.00 $ 3,255.00 29 10/17/11 Cardinal Contractors $ 85,416.29 S 85,416.29 $ 85,416.29 30 11/03/11 Hole Mantes $ 832;50 S 832.50 $ 83250 31 11/03/11 Hole Mantes S 43,975.00 $ 43,975.00 $ 43,975.00 33 17123/11 KW Controls $ 24,337.00 $ 24,337,00 $ 24337.00 Tckw-FY 2011 1 1717 1:20 S 1,674,W20 S 42700,00 1 t 81,20- 32 11114/11 Cardinal Contractors $ 266,314.14 $ 266,314.14 S 266,314,14 34 12115/11 South Florida Excavation $ 4.601:65 $ 4,601.85 $ 4,601.85 35 t2115f11 BCI Technologies $ 7,121..33 $ 7,121.33 S 7,121,33 36 12/15/11 ITT Water Equipment Tech $ 586,768,70 $ 586,786.70 $ 586,766.70 37 12/1 &11 Cardinal Contractors $ 647,523.09 $ 647,523.09 111 647,52309 38 12130711 Hole Monies $ 43,872.50 $ 43,672.50 :$ 43,872.50 39 0124112 Hole Mantes $ 25.609:59 $ 25,609 -59 $I 25,609.59 40 01,24+12 Cardinal Contractors $ 174822.68 $ 174,822,68 $ 174,822.66 41 01130112 KW Controls $ 73,011,00 $ 73,011,00 $ 73,011.00 42 02/24712 Cardinal Contractors $ 240.416.36 $ 240,416.35 $ 240,416.36 43 03/15/12 Cardinal Contractors $ 246,740,07 $ 246,740.07 S 246,740.07 44 04,'05/12 Hole Mantes 3 48,232.19 $ 48,232.19 3 48,232.19 45 0423112 Cardinal Contractors S 89,577.03 $ 89,577;03 $! 89,577.03 46 05109/12 ITT Water Equipment Tech $ 30,577.50 S 30,577,50 $. 30,577.50 47 0511 6/12 Cardinal Contractors $ 62,629,20 $ 82,829.20 1, 62,629.20 48 05/17/12 KW Controls $ 12,168:50 $ 12,168.50 $. 12,18650 49 0 0/12/12 Hole Mantes $ 85,276.80 $ 65,276.80 S 85,276.80 50 0 &12!12 Seven Trent Environmental Svcs It 9,027.29 $ 9,027.29 $: 9,02729 51 06152/12 SCI Technologies $ 20,000.00 $ 20,000.00 $ 20,000:00 52 0 6113112 Cardinal Contractors $ 207,111.76 $ 207,11136 S- 207,111.76 53 0&29112 Soto's Lavin service, Inc. $ 19,880100 $ 19,680.00 $ 19,880.00 54 0711 &12 Cardinal Contractors $ 13,63250 $ 13,632;50 S 13,632.50 55 07125112 W,E, Johnson Equipment $ 33,088,00 S 33,086.00 $ 33,088.00 56 08103112 Hole Mantes $ 49,98180 $ 49,961.60 S 49,981,80 57 09104112 Severn Trent Environmental Svcs $ 3,045.00 $ 3.045.00 $ 3,045,00 58 09104112 Cardinal Contractors $ 195,289.60 $ 195,269.60 8 195,289.60 59 09119/12 Hale Mantes It 21,350.41 $ 21,350.41 S 21:350.41 60 09119112 1 Technologies $ 33,278:67 $ 33,278.67 $ 33,278.67 61 09119112 Cardinal Contraoors $ 52,400.10 $ 52,400,10 $ 52,400.10 Total FY 2012 S 382 15,66 , S SASZ,945,66 S $ 3.293 9 L5.8ii 62 1011 6112 RMA Geological Consultants $ 5,989.71 $ 5,989,71 $ 5,969.71 63 1011 6/12 Cardinal Contractors $ 151,858.93 $ 151,656,93 $ 151,858.93 64 11/01/12 Hole Mantes $ 10,027.10 $ 10,027,.10 $ 10,027.10 65 12/11/12 Severn Trent $ 48,56610 $ 48,566.70 $ 48,566.70 66 011091-13 RMA Geological Consultants $ 9,170.00 It 9,170.00 S 9.170:00 67 01117113 Hole Mantes $ 8,138.:33 S 8,136.33 $ 8,138.33 68 01117113 RMA Geological Consultants $ 16,745,71 $ 16,745.71 '$ 16,745.71 69 01/17 /13 Severn Trent $. 1,568.75 S 1,568.75 $ 1,568:75 70 02/05113 Cardinal Contractors $ 26.705.15 $ 26,705.15 S 26,705:15 71 0210&13 KW Controls -$ 12,168,50 $ 12,188,50 $ 12,168.50 72 02105/13 Hole Mantes S. 2,532.57 $ 2,532,57 ,S 2,532.57 73 02/21113 KW Controls $ 12,166.50 $ 12,168.50 $ 12,168.50 74 04123113 RMA Geatagical Consultants $- 1.600.00 $ 11600.00 .. $ 1,800.00 Ta1aIfi1201 __ 3, $ 723995$ 307:28995:..$.. 5 207,23995. Grand Total.:. S - 8 7446:61 5 745 81 S 42.700.00 S 5:280 746:81 Interest FY2011 Interest $ 5,743,88 FY 2012 Interest $ 2,29147 FY 2013 Interest S: -18054 S, .0;21529. 13 b C �L �o 6 Q A N^ W� 0= CL — d� L CL U CL E CL U E F- CL E L. — O 0 E IL U N rG .g a 0 wrr wwwc z •oo° o e v� xa w w ars °n N..M W 41 WM M � � C �K a a �g N i � f � a Z w � I c Q �o G d N N E T, 00 0 a` w E 0 CL E m CL to 0 Q U H c W � = o H E L6 — O E 0 0. 0 0 u z S A 0 E m s� w zz z PORT OF THE ISLANDS General Fund Community Improvement District Cash Flow Pmjetdions I,=. =71 P/R -Board of Supervisors 3� d0- un 31-Jul 31-Aug 30-Sep $ 2013 2013 2013 2013 Cash Beginning Balance $ 938,085 $ 1,205,606 $ 1,177,520 $ 1,150,697 Cash Inflow 56,095 178 178 99,638 Cash Outflow (31,622) (28,264) (27,001) (28,001) CD Investment - 2,388 - 151,050 Add: Prepaid Items 2,364 2,364 2,364 Add: Due from WS Fund 267,199 - - Less: Current Liabilities (as of 5131113) (24,151) Telephone 2 Total Eadmated Cash Balance I$ 1,Z)5,6W $ 1,177;,520 $ 1,150,697 $ 1,373,364 Cash Recallota Special Assessments - Levy $ 55,917 $ - $ - $ Special Assessments - Delinquent (prior yr) - 25 99,460 Special Assessments - Discount _ - Interest 178 178 178 178 Total Cash Inflow $ 56,095 $ 178 $ 178 $ 99,638 I,=. =71 P/R -Board of Supervisors $ 500 $ 500 $ 500 $ 500 FICA Taxes 38 38 38 38 ProfServ- Engineering 1,385 1,385 1,385 1,385 ProfServ-Legal Services 2,388 2,388 2,388 2,388 ProfServ-Mgmt Consulting Sery 2,364 2,364 2,364 2,364 Annual Audit 3,750 - Telephone 2 2 2 2 Postage and Freight 90 90 90 90 Rental - Meeting Room 25 25 25 25 Insurance - General Liability 1,695 - - Printing & Binding 120 120 120 120 Legal Advertising - - 432 432 Miscellaneous Services 115 115 115 115 Misc.-Assessmnt Collection Cost 1,303 - - Misc.-Web Hosting - - 1,000 Office Supplies 10 10 10 10 Total AdmlNstradve $ 12,089 $ 8,731 $ 7,466 $ 8,468 Maintenance Contracts - Mgmt Services $ 8,333 $ 8,333 $ 8,333 $ 8,333 Contracts - Landscape 6,902 6,902 6,902 6,902 Electricity - Streetlighting 1,558 1,558 1,568 1,558 Utility - Irrigation 1,150 1,150 1,150 1,150 R &M - Renewal & Replacement 339 339 339 339 R &M - Roads 1,000 1,000 1,000 1,000 R &M - Signage 250 250 250 250 CIP' Total Maintenance $ 19,533 $ 19,533 $ 19,533 $ 19,533 Total Cash Outflow $ 31,622 $ 28,264 $ 27,001 S 28,001 `NOTES: Estimated CIP costs for the anticipated projects are shown quarterly. Delinquent assessments from hotel parcel are reflected as received in Sep 2013. Actual receipt date unknown. 16 PORT OF THE ISLANDS Water and Sewer Fund Community Improvement District Cash Beginning Balance Cash Inflow Cash Outflow - Expenses Add: Prepaid Items Less: Due to General Fund Less: Current Liabilities (as of 5/31113) Total Estimated Cash Balance Cash Flow Projections 30-Jun 2013 31-Ju1 2013 31-Aug 2013 30-sep 2013 284,464 $ (25,114) $ (53,026) $ (79,594) 164,185 18,417 18,417 277,849 (164,769) (46,328) (44,984) (157,973) (267,199) 38 ProfServ- Engineering (41,795) - 1,385 $ (U.114) $. 15,026) $ (70.594) $ 40,282 Cash RecelpM Special Assessments - Levy $ 145,768 $ - $ - $ - Special Assessments - Delinquent (prior yr.) - - - 259,432 Special Assessments - Discount - Water/Sewer /Irrigation Revenue 18,389 18,389 18,389 18,389 Interest/Miscellaneous 28 28 28 28 Total Cash Inflow $ 164,18S $ 18,417 $ 18,417 $ 277,849 orating Expenc Adminletrative P/R -Board of Supervisors $ 500 $ 500 $ 500 $ 500 FICA Taxes 38 38 38 38 ProfServ- Engineering 1,385 1,385 1,385 1,385 ProfServ-Legal Services 2,388 2,388 2,388 2,388 ProfServ-Mgmt Consulting Sery 2,364 2,364 2,364 2,364 Annual Audit 3,750 - - - Telephone 2 2 2 2 Postage and Freight 59 59 59 59 Rental - Meeting Room 25 25 25 25 Insurance - General Liability - 1,695 - - Printing & Binding 90 90 90 90 Legal Advertising - 351 351 Miscellaneous Services 206 206 206 206 Misc: Assessmnt Collection Cost 3,397 - - - Office Supplies 12 12 12 12 Total Administrative $ 14,216 $ 8,764 $ 7,420 $ 7,420 Maintenance Contracts - Mgmt Services $ 25,794 $ 25,794 $ 25,794 $ 25,794 Contracts - Other Services 63 63 63 63 Communication - Teleph - Field 352 352 352 352 Utility - General 6,899 6,899 6,899 6,899 R&M - Irrigation 594 594 594 594 R&M - Water Plant 2,130 2,130 2,130 2,130 R&M - Waste Water Plant 1,733 1,733 1,733 1,733 CIP• 112,988 - 112,988 Total Maintenance $ 150,553 $ 37,565 $ 37,565 $ 150,553 " 17 PORT OF THE ISLANDS Community Improvement District Cash Flow Projections Water and Sewer Fund 30-Jun 31-Jul 311-Aug 30 -Sep 2013 2013 2013 2013 Dab[ Service Principal and Interest $ . $ - $ $ Total Debt Servlos $ $ $ - $ - Total Cash Outflow $ 184,789 $ 48,328 $ 41,984 $ 157,873 'NOTES: Estimated CIP costs for the anticipated projects are shown quarterly. Delinquent assessments from hotel parcel are reflected as received in Sep 2013. Actual receipt date unknown. 18 PORT OF THE ISLANDS Community Improvement District All Funds PROJECTIONS GENERAkFtWD Adopted Proposed Proposed Proposed Proposed FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 Operating Revenues $1,373,384 $1,450;405 $1,517,556 $1,574,417 Assessments $417,984 $417,984 $417,984 $417,984 $417,984 Interest/Miscellaneous $2,177, $13,734 $14,504 $15,176 $15,744 Total Operating Revenues $420,161 $431,718 $432,+48$ $433,160" $433,728 Operating Expenditures FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 Administrative $120,826 $124,451 $128,184 $132,030 $135,991 Maintenance $223,540 $230,246 $237,154 $244,268 $251,596 Total Operating Expenditures $344,366 $354,697 $365,338 $376,298 $387,587 Capital Expenditures $2,838 $2,838 $2,838 $2 83$ $g^ 838 CIP Projects $70,894 $0 $0 0 $0 Total Capital Expenditures $70,894 $0 0 $0 $0 Estimated Beginning Cash Balance $1,373,384 $1,450;405 $1,517,556 $1,574,417 Fstirneteti Endin Cash Balance" $1,373,384 $1,450,405 $1,517,556 $1,574,417 $1,620,558'' WATER AND SEWER ENTERPRISE FUND Adopted Proposed Proposed Proposed Proposed FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 Operatina Revenues Assessments $1,089,624 $1,089,624 $1,089,624 $1,089,624 $1,089,624 Water /Sewer /Irrigation Revenue $208,000 $208,000 $208,000 $208,000 $208,000 Interest /Miscellaneous $2,838 $2,838 $2,838 $2 83$ $g^ 838 Total Operating Revenues $1;300,462 "' $1,300,462 $1,300,462 $1,300,462 $1,300,462 Operating Expenditures Administrative $141,498 $141,498 $141,498 $141,498 $141,498 Maintenance $ 430,411 $439,019 $447,800 $456,756 $465,891 Total Operating Expenditures $571,909 $580,517 $589,298 $598,254 $607,389 Capital Expenditures CIP Projects $5000 $54796 $54796 $64796 $64,766 Total Capital Expenditures $50,000 $54,796 $54,796 $64,796 $64,796 Debt Service Principal and Interest $655,360 $655,360 $655,360 $655,360 $655,360 Total Debt Service $655,360 $655,360 $655,360 $655,360 $655,360 Estimated Beoinnino Cash Balance $40.282 $50.071 $51.080 $33.133 19 I + M Nut i OOOlOO VI s 4aDOl000D er E NO N 'i HNM r-I r H 1 V} ? 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Date Vendor Description Invoices Invoice $ Month 121612012 Synagra Dewatering 955-131014 8,005.57 December 8,005.57 Total 8,005.57 Grand Total 2012-2013 3520 Sludge 65191 32 I P 1 CD 41 e! ?-, Z, ui I I I -6 1, ID E E E E -2 9 A E M NIL ===:r= =Z ca rz E E E E E E E E E E E E- E r) M cli 0 C> 9i E C� O N E 2 E .2 r- on 0 -0 W V1 Ui' UO) (wen A P 1 CD 41 e! ?-, Z, ui I I I -6 1, ID E E E E -2 9 A E M NIL ===:r= =Z ca rz E E E E E E E E E E E E- E r) M cli 0 C> 9i E C� O N 2 � I 0 CL to \ &� ■8 cj CL �E$ �a $ k � � a 0 c k 0 C � @ a24c),� � a a �t -M |2I # I Z :a� E- ( .k k k U- 0 °q :@ Ir Cl) a. « � R . r % ) . J � � . � 7 $ �} 0 7% \ R k <\ \ 2 \ � {. . � ! � CD % .§ \ : JENNIFER EDWARDS SUPERVISOR OF ELECTIONS April 16, 2013 Ms Rosemary Hodza Port Of The Islands CID Severn -Trent Services 210 N. Univeristy Drive Coral Springs, FL 33071 Dear Ms Hodza, In compliance with Florida Statute 190.06, this notice is to inform you that the official records of the Collier Count Supervisor of Elections show the number of registered electors residing in Port Of The Islands CID upon April 15.2013 was 469 . Should you have questions regarding election services for the district please feel free to contact me. Sincerely, David B Carpenter Qualifying Officer Collier County Supervisor of Elections (239) 252 -8501 DaveCarpenter @colliergov.net Rev Dr Martin Luther King Jr Building • Collier Government Complex • 3295 Tamiami TO E Naples FL 34112 -5758 Telephone: 239/252 -8450 • Fax: 239/774 -9468 PORT OF THE ISLANDS Community Improvement District Annual Operating and Debt Service Budget Fiscal Year 2014 Version 3 - Modified Tentative Budget„ (Printed on 6/11/2013 at 3pm) Prepared by: SEVERN TRIES T SERVICES PORT OF THE ISLANDS Community Improvement District Table of Contents Page # OPERATING BUDGET General Fund Summary of Revenues, Expenditures and Changes in Fund Balances .............. ......... 1 -2 Budget Narrative ............................. ......... .......... ....,....., .... -.. :.. ,. ..........:. 3-5 Exhibit A - Allocation of Fund Balances ........... .......... ......... ... ..... , .,. ........... ........ ....... 6 Water and Sewer Fund Summary of Revenues, Expenditures and Changes in Fund Balances .... ............................... 7 -8 BudgetNarrative .......................................................................... >...,,........,..a........... 9 -12 Amortization Schedule ........................ ............................... ......... ........: .................. 13 SUPPORTING BUDGET SCHEDULES 2013 -2014 Non -Ad Valorem Assessment Summary ,. ...., „_. . ........ ....... :................. 14 CIPSchedule ......... ............................... ... ....... ............. ........ . 1 15 Port of the Islands Community Improvement District Operating Budget Fiscal Year 2014 PORT OF THE ISLANDS Community Improvement District General Fund Summary of Revenues, Expenditures and Changes In Fund Balances Fiscal Year 2014 Proposed Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL BUDGET THRU JUN PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2011 FY 2012 FY 2013 MAY -2013 SEP -2013 FY 2013 FY 2014 REVENUES Interest - Investments $ 6,315 $ 5,018 $ 2,177 $ 1,436 $ 718 $ 2,154 $ 2,090 Net Incr (Decr) In FMV- Invest 2,159 3,456 - 1,588 1,588 - Interest - Tax Collector 166 34 FICA Taxes 15 15 536 Special Assmnts- Tax Collector 402,233 402,231 435,400 379,483 55,917 435,400 435,400 Special Assmnts- Discounts (11,128) (11,204) (17,416) (9,234) (9,234) (17,416) Other Miscellaneous Revenues 3,676 19,104 - 1,575 1,575 ProfServ-Mgmt Consulting Sery TOTAL REVENUES 421 39: M5 420,161 374,863 $315 431458 4W,074 EXPENDITURES Administrative 101,289 98,536 100,000 66,795 33,333 100,128 100,000 P!R -Board of Supervisors 5,700 6,200 7,000 4,900 2,000 6,900 7,000 FICA Taxes 436 474 536 375 153 528 536 ProfServ- Engineering 21,523 22,923 26,000 11,078 5,539 16,617 26,000 ProfServ-Legal Services 30,200 38,472 12,500 19,104 9,552 28,656 12,500 ProfServ-Mgmt Consulting Sery 26,867 27,539 28,365 18,910 9,455 28,365 29,216 ProfServ- Property Appraiser 6,531 6,531 6,531 4,000 6,531 6,531 ProfServ- Special Assessment 8,755 8,974 9,243 9,243 1,000 9,243 9,520 Auditing Services 3,750 3,500 3,750 - 3,750 3,750 3,750 Communication - Telephone 22 36 100 13 7 20 100 Postage and Freight 1,129 1,071 1,500 715 358 1,073 1,200 Rental - Meeting Room 325 325 350 200 100 300 350 Insurance - General Liability 7,830 7,690 8,844 6,156 1,695 7,851 9,028 Printing and Binding 1,576 1,239 2,000 483 483 966 1,300 Legal Advertising 475 831 2,200 135 865 1,000 1,000 Miscellaneous Services 482 890 1,375 415 460 675 1,380 Misc- Assessmnt Collection Cost (3,801) 4,816 8,708 7,405 1,303 8,708 8,708 Misc -Web Hosting 119 1,000 1,000 1,000 1,000 Office Supplies 448 261 650 70 35 105 500 Annual District Filing Fee 175 175 175 175 - 175 175 Total Administrative 106;894 132,066 120,827 85,908 36,754 122,662 119,794 Field Contracts -Mgmt Services 101,289 98,536 100,000 66,795 33,333 100,128 100,000 Contracts - Landscape 97,639 83,115 79,440 54,922 27,610 82,532 82,830 Electricity - Streetiighting 13,439 16,615 16,500 12,464 6,232 18,696 19,000 Utility - Irrigation 6,559 12,670 12,600 9,200 4,600 13,800 12,600 R &M- Renewal and Replacement 17,126 12,325 10,000 8,643 1,357 10,000 30,850 R &M- Irrigation - - 1 R &M -Roads & Alleyways 4,000 4,000 4,000 4,000 R &M- Signage 1,000 1,000 1,000 1,000 Capital Outlay - 70,894 - 50,000 Total Field 236,052 223,261 294,434 152,024 78,132 230,156 300,280 TOTAL EXPENOrrUIRES 341.546 355,327 415,251 237,932 114,886 36V118118 420 4 Excess (deficiency) of revenues Over (under) expenditures 61,475 44,208 4,900 136,931 (58,250) 78,681 Annual Operating and Debt Service Budget Fiscal Year 2014 1 PORT OF THE ISLANDS Community Improvement District General Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2014 Proposed Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL BUDGET THRU JUN PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2011 FY 2012 FY 2013 1 MAY -2013 SEP -2013 FY 2013 FY 2014 OTHER FINANCING SOURCES (USES) Contribution to (Use of) Fund Balance 4,900 TOTAL OTHER SOURCES USES - 4, 0 - - Net change in fund balance 61,475 44,208 4,900 136,931 (58,250) 78,681 FUND BALANCE, BEGINNING 1,100,673 1,162,148 1,206,356 1,206,356 1,206,356 1,285,037 FUND BALANCE, ENDING $6162,148 $.1,206,351 11 211 56 $ 1,343,267 s 58 250 $1,285,037 s 1,285,037 Annual Operating and Debt Service Budget Fiscal Year 2014 2 PORT OF THE ISLANDS Community Improvement District Genera! Fund Budget Narrative Fiscal Year 2014 REVENUES Interest- Investments The District earns interest on the monthly average collected balance for their operating accounts. Special Assessments -Tax Collector The District will levy a Non -Ad Valorem assessment on all the assessable property within the District in order to pay for the operating expenditures during the Fiscal Year. Special Assessments- Discounts Per Section 197.162, Florida Statutes, 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 P/R -Board of Supervisors Chapter 190 of the Florida. Statutes allows for members of the Board of Supervisors to be compensated $200 per meeting at which they are In attendance. The amount for the Fiscal Year is based on 5 Board members paid for attending 14 meetings. The fees will be split evenly with the Water & Sewer Fund. FICA Taxes Payroll taxes for supervisor salaries are calculated as 7.65% of payroll. Professional Services- Engineering The District's engineer provides general engineering services to the District, i.e. attendance and preparation for monthly board meetings when requested, review of invoices, and other specifically requested assignments. The budgeted amount for the fiscal year is based on prior year spending and anticipated costs. The cost will be split evenly with the Water & Sewer Fund. Professional Services -Legal Services The District's Attorney provides general legal services to the District, i.e., attendance and preparation for monthly Board meetings, review of contracts, review of agreements and resolutions, and other research as directed by the Board of Supervisors and the District Manager. The fees will be split evenly with the Water & Sewer Fund based on the percent budgeted for each fund. Professional Services- Management Consulting Services The District receives Management, Accounting and Administrative services as part of a Management Agreement with Severn Trent Environmental Services, Inc. Professional Services - 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 collection costs was based on 1.5% of the anticipated assessment collections. Annual Operating and Water /Sewer Budget Fiscal Year 2014 3 PORT OF THE ISLANDS Community Improvement District General Fund Budget Narrative Fiscal Year 2014 EXPENDITURES Administrative (continued) Professional Services - Special Assessment The District has contracted with Severn Trent Management Services, Inc. to levy annual assessments, update the District's tax roll, prepare estoppel letters and handle any customer service questions regarding assessments. Auditing Services The District is required to conduct an annual audit of its financial records by an Independent Certified Public Accounting Firm. Costs will be split evenly with the Water & Sewer Fund. Communication- Telephone Telephone and fax transmission expenditures. The budgeted amount for the fiscal year is based on prior year spending. Costs will be split evenly with the Water & Sewer Fund. Postage and Freight This represents costs associated with actual postage and /or freight used for District mailings including agenda packages, vendor checks and other correspondence. The fees will be split evenly with the Water & Sewer Fund. Rentals — Meeting Room The District is charged $50 per occurrence for the use of the meeting room at which the District's meetings are held. The district anticipates holding 14 meetings. This fee will be split evenly with the Water & Sewer Fund. Insurance — General Liability The District currently has its Insurance Policy with the Florida Municipal Insurance Trust. This includes general liability, storage tank and property insurance. The FY 2014 budget includes an estimated 15% increase of the actual FY 2013 premium. Printing and Binding This represents costs associated with copies used in the preparation of agenda packages, required mailings, and other special projects. The budgeted amount for the fiscal year is based on prior year spending. The fees will be split with the Water & Sewer Fund based on the percent budgeted for each fund. Legal Advertising The District is required to advertise various notices for monthly Board meetings and other public hearings in a newspaper of general circulation. The board will advertise for their meetings annually. The fees will be split with the Water & Sewer Fund based on the percent budgeted for each fund. Miscellaneous Services This includes monthly bank charges and any other miscellaneous expenses that may be incurred during the year. Miscellaneous- Assessment Collection Costs The District reimburses the Collier County 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 20% of the anticipated assessment collections. Annual Operating and Water /Sewer Budget Fiscal Year 2014 4 PORT OF THE ISLANDS Community Improvement District General Fund Budget Narrative Fiscal Year 2014 EXPENDITURES Administrative (continued) Miscellaneous -Web Hosting The District expects to incur costs associated with Web Hosting, Office Supplies Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects. Annual District Filing Fee The District is required to pay an annual fee of $175 to the Department of Community Affairs. Field Contracts -Mgmt Services The District has contracted with Severn Trent Environmental Services to provide operating, maintenance and field management services. This contract includes a predetermined amount of R &M costs. Costs above the specified amount are recorded as'R &M- Renewal and Replacement'. Any unused R &M costs are returned to the district. Contracts - Landscape Soto's Lawn currently provides monthly landscape services to the district for a monthly fee of $6,902 ($82,830 /year). Electricity - Streetlighting The District currently has 3 electric accounts with Lee County Cooperative for streetlights located on District Roads. Expenses are based on prior year's electric bills. The district receives a reimbursement for a portion of the decorative street lighting from Orchid Cove. Account No. Service Address 0051120000 0 Eveningstar Cay 4941120000 Newport Drive 5741120000 262 Stella Maris Utility - Irrigation The District is currently being billed by the Water /Sewer Fund of Port of the Islands CID for irrigation water for the common areas that the District is required to maintain. R &M- Renewal and Replacement Various costs incurred as needed including but not limited to the entrance, monuments, lighting and lake mgmt. R &M- irrigation Various repair and maintenance to irrigation system (above ground) including wet checks, rain sensors and valve repairs. R &M -Roads & Alleyways Expenses incurred while maintaining District roadways. R &M- Signage This category includes costs for maintaining or replacing signage throughout the District. Capital Outlay Monies spent on capital improvement projects as Identified by the board.. Annual Operating and Water /Sewer Budget Fiscal Year 2014 5 PORT OF THE ISLANDS Community Improvement District General Fund Exhibit "A" Allocation of Fund Balances AVAILABLE FUNDS Amount Beginning Fund Balance - Fiscal Year 2014 $ 1,285,037 Net Change in Fund Balance - Fiscal Year 2014 Reserves - Fiscal Year 2014 Additions ITotal Funds Available (Estimated) - 9/30/2014 1,285,037 ALLOCATION OF AVAILABLE FUNDS Assigned Fund Balance Operating Reserve - First Quarter Operating Capital 105,018 t1) Subtotal 105,018 Total Allocation of Available Funds 105,018 Total Unassigned (undesignated) Cash $ 1,180,018 Notes (1) Represents approximately 3 months of operating expenditures Annual Operating and Debt Service Budget Fiscal Year 2014 6 PORT OF THE ISLANDS Community Improvement District Water And Sewer Fund Summary of Revenues, Expenses and Changes In Net Assets Fiscal Year 2014 Proposed Budget Water -Sewer Comb Services ADOPTED ACTUAL PROJECTED TOTAL ANNUAL Contracts -Mgmt Services ACTUAL ACTUAL BUDGET THRU JUN PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2011 FY 2012 FY 2013 MAY -2013 SEP -2013 FY 2013 FY 2014 Communication - Teleph - Field 3,867 4,033 4,512 2,817 1,409 4,226 4,512 OPERATING REVENUES 79,963 61,516 80,000 55,186 27,594 82,782 83,000 Interest - Investments $ 6,244 $ 2,686 $ 2,838 $ 221 $ 111 $ 332 $ 578 Water Revenue 41,379 41,089 43,000 31,318 15,659 46,977 45,000 Sewer Revenue 58,619 62,574 65,000 49,378 24,688 74,064 70,000 Irrigation Fees 93,629 82,528 100,000 66,413 33,207 99,620 100,000 Meter Fees 4,375 2,500 4,500 3,375 1,125 4,500 4,500 Net Incr (Deer) In FMV- Invest 4,021 6,435 2,958 1,600 2,958 Special Assmnts- Tax Collector 1,048,566 1,048,559 1,135,025 989,259 145,768 1,135,027 1,135,025 Special Assmnts- Discounts (29,009) (29,206) (45,401) (24,073) (24,073) (45,401) Other Miscellaneous Revenues 19,379 5,045 5,185 - 5,185 TOTAL OPERATING REVENUES 12R ES S 1 ,210 1,300 462 1,120,657 218 432 1340,069 13W OPERATING EXPENSES Personnel and Administration P/R -Board of Supervisors 5,700 6,200 7,000 4,900 2,000 6,900 7,000 FICA Taxes 436 474 536 375 153 528 536 ProfServ- Engineering 37,564 22,923 26,000 11,078 5,539 16,617 26,000 ProfServ-Legal Services 30,200 38,472 12,500 19,104 9,552 28,656 12,500 ProfServ-Mgmt Consulting Sery 26,978 27,652 28,482 16,988 9,494 28,482 29,336 ProfServ- Property Appraiser 17,025 17,025 17,025 17,025 17,025 ProfServ- Special Assessment 7,468 7,655 7,885 7,885 7,885 8,122 ProfServ- Utlllty Billing 15,155 9,053 Auditing Services 3,750 3,500 3,750 3,750 3,750 3,750 Communication - Telephone 21 36 100 13 7 20 100 Postage and Freight 561 696 1,000 471 236 707 1,200 Rental - Meeting Room 325 325 350 200 100 300 350 Insurance - General Liability 7,830 7,690 8,270 5,757 1,695 7,452 9,028 Printing and Binding 986 930 1,500 362 362 724 1,300 Legal Advertising 353 670 1,600 98 702 800 1,000 Miscellaneous Services 1,371 2,265 2,050 1,653 827 2,480 2,600 Misc- Assessmnt Collection Cost 20,371 12,660 22,701 19,304 3,397 22,701 22,701 Office Supplies 517 305 750 82 41 123 500 Depreciation Expense 308,309 321,266 - - Total Personnel and Administration 467,095 479,797 141,499 107,295 37,853 145,148 143,047 Water -Sewer Comb Services Contracts -Mgmt Services 304,000 299,592 309,533 206,749 103,178 309,927 309,533 Contracts -Other Services 1,750 1,750 2,000 1,750 250 2,000 1,750 Communication - Teleph - Field 3,867 4,033 4,512 2,817 1,409 4,226 4,512 utility - General 79,963 61,516 80,000 55,186 27,594 82,782 83,000 R &M- Irrigatlon 28,121 36,517 10,000 7,623 2,377 10,000 20,500 R &M -Water Plant 21,415 45,712 10,000 17,041 8,521 25,562 14,000 R &M -Waste Water Plant 46,609 82,093 9,866 13,860 6,930 20,790 45,000 Misc -Bad Debt 2,079 1,267 1,267 Misc - Licenses & Permits 4,375 5,375 4,500 3,375 1,125 4,500 4,500 Cap Outlay-Irrigation 27,516 1,600 29,116 Annual Operating and Debt Service Budget Fiscal Year 2014 7 PORT OF THE ISLANDS Community Improvement District Water And Sewer Fund Summary of Revenues, Expenses and Changes in Net Assets Fiscal Year 2014 Proposed Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL BUDGET THRU JUN PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2011 FY 2012 FY 2013 MAY -2013 SEP -2013 FY 2013 FY 2014 - Cap Outlay -Water Plant 50,000 125,730 225,977 351,707 4,000 Cap Outlay -Waste Water Plant 20,000 Total Water•SewerComb Services 490,100 560,667 480,411 462,916 378,960 841,876 506,785 Debt Service Principal Debt Retirement - 497,303 514,758 Interest Expense 179,380 174,899 158,056 92,200 65,85E 158,056 140,601 Total Debt Service 179,360 174,899 655,359 92,200 65,855 158,056 655,360 TOTAL OPERATING EXPENSES 1,137,375 1,215 1 2'77 259 662,411 442PS1 1 145.OBQ 1305 202 Operating Income (loss) 1051653 61847 23,193 458,246 (263,237) 195,009 0 OTHER FINANCING SOURCES (USES) Contribution to (Use o0 Fund Balance` TOTAL OTHER SOURCES (USES) Change in net assets TOTAL NET ASSETS, BEGINNING TOTAL NET ASSETS, ENDING 105,653 6,847 23,193 458,246 (263,237) 195,009 0 7,436,046 7,641,699 7,548,546 7,548,546 7,548,546 7,743,555 7 541 699 $ 7,546,546 $ 7,571,739 $ 006 T92 _L M3,237 Annual Operating and Debt Service Budget Fiscal Year 2014 8 PORT OF THE ISLANDS Community Improvement District Water and Sewer Fund Budget Narrative Fiscal Year 2014 REVENUES Interest-investments The District earns interest income on their operational accounts. Water Revenue Based on prior year's budget and water consumption and anticipated use. Sewer Revenue Based on prior year's budget and waste water consumption and anticipated use. Irrigation Fees Based on prior year's budget and irrigation water consumption and anticipated use. Special Assessments -Tax Collector The District will levy a Non -Ad Valorem assessment on all the assessable property within the District in order to pay for the debt service expenditures during the Fiscal Year. Special Assessments- Discounts Per Section 197.162, Florida Statutes, discounts are allowed for early payment of assessments. The budgeted amount for the fiscal year is calculated at 40/6 of the anticipated Non -Ad Valorem assessments. EXPENDITURES Administrative P/R Board of Supervisor Salaries Chapter 190 of the Florida Statutes allows for a member of the Board of Supervisors to be compensated for a meeting attendance and to receive $200 per meeting plus payroll taxes. The amount for the Fiscal Year is based on 5 Board members paid for attending 14 meetings. The fees will be split evenly with the General Fund. FICA Taxes Payroll taxes for supervisor salaries are calculated as 7.65% of payroll. Professional Services- Engineering The District's engineer provides general engineering services to the District, i.e. attendance and preparation for monthly board meetings when requested, review of invoices, and other specifically requested assignments. The fees will be split evenly with the General Fund. Professional Services -Legal Services The District's Attorney provides general legal services to the District, i.e., attendance and preparation for monthly Board meetings, review of contracts, review of agreements and resolutions, and other research assigned as directed by the Board of Supervisors and the District Manager. The fees will be split evenly with the General Fund. Professional Services- Management Consulting Services The District receives Management, Accounting and Administrative services as part of a Management Agreement with Severn Trent Management Services, Inc. Annual Operating and Water /Sewer Budget Fiscal Year 2014 9 PORT OF THE ISLANDS Community Improvement District Water and Sewer Fund Budget Narrative Fiscal Year 2014 EXPENDITURES Administrative (continued) Professional Services- 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 collection costs was based on 1.5% of the anticipated assessment collections. Professional Services- Special Assessment The District has contracted with Severn Trent Management Services, Inc. to levy annual assessments, update the District's tax roll, prepare estoppel letters and handle any customer service questions regarding assessments. Auditing Services The District is required to conduct an annual audit of its financial records by an Independent Certified Public Accounting Firm. The fees will be split evenly with the General Fund. Communication - Telephone Telephone and fax machine expenses. The budgeted amount for the fiscal year is based on prior year spending. The fees will be split with the General Fund based on the percent budgeted for each fund. Postage and Freight This represents actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence. The fees will be split with the General Fund based on the percent budgeted for each fund. Rentals — Meeting Room The District is charged $50 per occurrence for the use of the meeting room at which the district's meetings are held. The district anticipates holding 14 meetings during the year. This cost will be shared evenly with the General Fund. Insurance — General Liability The District currently has its Insurance Policy with the Florida Municipal Insurance Trust. The FY 2014 budget includes an estimated 15% increase of the actual FY 2013 premium. Printing and Binding Copies used in the preparation of agenda packages, required mailings, and other special projects. The budgeted amount for the fiscal year is based on prior year spending and anticipated costs. The fees will be split with the General Fund based on the percent budgeted for each fund. Legal Advertising The District is required to advertise various notices for monthly Board meetings and other public hearings in a newspaper of general circulation. The board has chosen to advertise for their meetings annually. The fees will be split with the General', Fund based on the percent budgeted for each fund. Miscellaneous Services This includes bank charges and any miscellaneous expenses that may be incurred during the year. Miscellaneous- Assessment Collection Cost 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. Annual Operating and Water /Sewer Budget Fiscal Year 2014 10 PORT OF THE ISLANDS Community Improvement District Water and Sewer Fund Budget Narrative Fiscal Year 2014 EXPENDITURES Administrative (continued) Office Supplies Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects. The fees will be split with the General Fund based on the percent budgeted for each fund. M Contracts -Mgmt Services The District has contracted with Severn Trent Environmental Services to provide operating, maintenance and field management services. This contract includes a predetermined amount of R &M costs. Costs above the specified amount are recorded as 'R &M- Renewal and Replacement'. Any unused R &M costs are returned to the district. Contracts -Other Services Preventative generator maintenance services will be provided by Superior Power. Communication — Teleph — Field Century Link and Sprint provide communication services to the District. The following accounts are included in this line item: Vendor Description Annual Amount Century Link Plant Land Line (239 - 642 -9219) $3,180 Century Link Plant Fax Line (239- 642 -9392) 504 Simplex Grinnell Alarm Monitoring 744 sprint Automatdd svc to notify Bob of power failures 84 Total $4,512 Utility - General The District currently has 10 electric accounts with Lee County Cooperative for irrigation, lift stations, water and waste water plant. The estimated cost is based on prior year's average monthly electric bills and anticipated use. Account No. Service Address Svc.Type 9741120000 25000 E. Tamiami Irrigation 1941120000 0 Port of the Islands Irrigation 3841120000 119 Newport Drive Irrigation 7841120000 Union Road Irrigation 0941120000 245 Stella Maris Drive Lift Station 1841120000 0 Newport Drive Lift Station 7624900000 160 Cays Drive Lift Station 6941120000 0 Cays Drive Lift Station 3083520000 0 Newport Drive Lift Station 3941120000 86112700 P Islands Waste Water R &M — Irrigation Repair and maintenance costs associated with the main pumps and other irrigation equipment at the plant. R &M — Water Repair and maintenance costs associated with the water plant. R &M — Waste Water Repair and maintenance costs associated with the waste water plant. Annual Operating and WatertSewer Budget Fiscal Year 2014 11 PORT OF THE ISLANDS Community Improvement District Water and Sewer Fund Budget Narrative Fiscal Year 2014 EXPENDITURES Field (continued) Miscellaneous - Licenses & Permits Costs incurred for various licenses and permits pertaining to the water and waste water plants including an annual drinking water license and waste water regulatory fee. Capital Outlay — Water Plant Funds spent on capital improvement projects for the water plant. • W -22 $4,000 FIRE HYDRANT REPLACEMENT Capital Outlay — Waste Water Plant Funds spent on capital improvement projects for the waste water plant. • Ww -24 $20,000 MBR MEMBRANES Debt Service Principal Debt Retirement Principal payment due on Series 2010 bond. Interest Expense Interest payment due on Series 2010 bond. Annual Operating and Water /Sewer Budget Fiscal Year 2014 12 PORT OF THE ISLANDS Community Improvement District Debt Amortization Series 2010 Bond Period Coupon Debt Annual Debt Ending Principal Rata Inten►at Service Service 1/1/2013 $70,300.56 $70,300.58 51112015 $532,826.51 1510% $61,266.55 $594,093.06 $855,359.61 1111/2015 $51,915.45 $51,915.45 5/112016 $551,528.72 3.510% $51,915.45 $603,444.17 $655,359.62 11/1/2016 $42,23612 $42,236.12 511/2017 $570,887.38 3.510% $42,236.12 $613,123.50 $655,359.62 11/1/2017 $32,217.04 $32,217.04 5/112018 $590,925.52 3.510% $32,217.04 $623,142.56 $655,359.60 11/1/2018 $21,846.30 $21,846.30 5/1/2019 $611,667.01 3.510% $21,846.30 $633,513.31 $655,359.61 11/1/2019 $11,111.55 $11,111.55 511/2020 $633,136.52 3.510% $11,111.55 $644,248.07 $655,359.62 Total $4,005,730.15` $581,787.14 $4,587,517.29 54,587,517.29 Annual Operating and Debt Service Budget Fiscal Year 2014 13 Port of the Islands Community Improvement District Supporting Budget Schedules Fiscal Year 2014 PORT OF THE ISLANDS Community Improvement District Port of the Islands Community Improvement District Non -Ad Valorem Assessment Roil FY 2013 -2014 Product Maint. ERC MaInVERC WIS ERC WIS Standby WIS Ca ital Total per Type Allocation $ 400 Allocation 'E $1,124 Single Family Product $1,524 $0 0% $413 $711 Hotel Room 1.00 $400 0.60 $248 $427 $1,074 Cando Unit 1.00 $400 0.60 $330 $569 $1,299 Single Family 1.00 $400 1.00 $413 $711 $1,524 Comparison FY 2013 to FY 2014 Product T e Total FY 2014 Total Increase FY 2013 (Decrease) % Change Hotel Room $1,074 $1,074 $0 0% Cando Unit $1,299 $1,299 $0 0% Single Family $1,524 $1,524 $0 0% Annual Operating and Debt Service Budget Fiscal Year 2014 14 Li r 0 CL CD OC 0 P m N e� E EH a2 a� 02 Em iD CL Q� CL E CL 0 V O :9 a H W i = o F E U. — O� H :3 E 0. U Port of the Islands Community Improvement District Severn Trent Services, Management Services Division 210 North University Drive, Suite 702 Coral Springs, Florida 33071 Telephone: 954- 753 -5841 Fax 954- 345 -1292 MEMORANDUM TO: Cindy Celestin FROM: Janice Swade District Recording Secretary DATE: June 25, 2013 REFERENCE: FISCAL YEAR 2012 AFR Attached is the signed AFR for the Fiscal Year 2012 Audit, which was accepted at the June 21, 2013 Port of the Islands CID's Board of Supervisors Meeting. { Avymet jj,,� ice Swade District Recording Secretary N K e O Q di aiU. C 0 N C li Q � 2 y y m � � O O D Q R N a Z g � C V3 C O 1. R O m 0 C e O 0 N C E � � O D Q R N a Z g � z ,Z El OF] F C N O N ca C T E Uai vi p a z w c `.6 r- m N CD LM E O LLJ •U `m c LL m 0 W a Gf3 zs c E LL m d } d uJ i 0 1 N G 3 ca t� j } CCS, c� N l6 4Sj E z 1- w 0 d rn m a M N N ri M m R v U- c 0 E O W C C a7 N N Q m mmj V m W 'Qpm d N t ffl a m E ui c r m E v Zm o z F d W N C. c N CL d } 7 r W U p C: E m y L m R N •C C�7 c O h > L7 d � C7 N � J c ¢ °o' EE N § in O Z >o- N al ¢ C Z N E 0- E z ai o a� ii ii 4 a� N z ,Z El OF] F C N O N ca C T E Uai vi p a z w c `.6 r- m N CD LM E O LLJ •U `m c LL m 0 W a Gf3 zs c E LL m d } d uJ i 0 1 N G 3 ca t� j } CCS, c� N l6 4Sj E z 1- w 0 d rn m a M N N ri M m R v U- N V O N LU } LL 1. w .: O CL d a U) C d d a in 6 N d O� A a M 0 N M a N r O N w LL LL L v O Q. d QH G 3 V C d Q. K w d 4m R a r-i M R E T R U- w 0 O y.. c m E d O L CL E k c E E 0 U N '0 C d s w 0 0 CL of a c 0 M D w .0 N r O N W L 0 L O 0. d i+ m s H Y L 0 Y d E d W Ln V- 0 v v m � IL rl M A 10 E O F- 0 E- N d tG � w � O � F- d d C. F- C C d C O Q. E O V Ln w 0 w rn m a M O N H M a f �4 LL V V Berger, Toombs, Elam, -I Gaines & Frank Certified Public Accountants PL 600 Citrus Avenue Suite 200 Fort Pierce, Florida 34950 772/461 -6120 /1461-1155 FAX: 772/468 -9278 June 10, 2013 Mr. Stephen Bloom Severn Trent Management Services 210 N. University Drive, Suite 702 Coral Springs, FL 33071 Dear Stephen: Enclosed please find twelve (12) bound copies of our completed audit report for the year - ended September 30, 2012 for Port of the Islands Community Improvement District together with the SAS 114 letter. A copy has also been sent via email in PDF format for your convenience. Should you have any questions, please contact me. Sincerely- Gaines JWG:tjb Enclosures Fort Pierce I Stuart 9 Member AICPA Member AICPA Division For CPA Firms Member FICPA Private Companies Practice Section C r Berger, Toombs, Elam, -�'P Gaines & Frank Certified Public Accountants PL 600 Citrus Avenue Suite 200 Fort Pierce, Florida 34950 772/461 -6120 // 461 -1155 FAX: 772/468 -9278 June 10, 2013 Board of Supervisors Port of the Islands Community Improvement District Collier County, Florida We are pleased to provide the following information related to our audit of Port of the Islands Community Improvement District for the year ended September 30, 2012 to assist you in your oversight responsibility of the financial reporting process of the District. Our responsibility under the auditing standards has been described to you in our engagement letter dated March 27, 2012. Management is responsible for the appropriateness of the accounting policies used by the District. During the year, no significant new accounting policies were adopted nor were there any changes in the existing accounting policies. We did not discuss with Management, any significant or unusual transactions nor did we discuss any alternative treatments available under generally accepted accounting policies during the current audit period. Any audit adjustments provided by Management or communicated to Management have been reported to and agreed upon by Management. If you would like a detailed listing of all audit adjustments for the current period, please contact us. We encountered immaterial uncorrected misstatements (see attachment) during the course of our audit which we discussed with management and were not adjusted. There are no disagreements with Management over the application of significant accounting principles, the basis for judgments made by Management on any significant matters, the scope of the audit or significant disclosures to be included in the financial statements. We are not aware of any consultations Management had with other accountants about accounting or auditing matters. Fort Pierce / Stuart Member AICPA Member AICPA Division For CPA Firms Member FCPA Private Companies Practice Section Berger, Toombs, Elam, Gains & Frank 0 N— Board of Supervisors Port of the Islands Community Improvement District Page 2 There were no significant issues that were discussed during the course of the audit. We did not encounter any difficulties in dealing with Management during the audit process Management has made certain written representations to us as part of the audit process. Please contact us if you would like a copy of those representations. This letter is intended solely for the information and use of the Board and Management and is not intended to be and should not be used by anyone other than the intended parties. Please contact J. W. Gaines should you have any questions concerning this letter. We greatly appreciate the opportunity to be of service to Port of the Islands Community Improvement District. Berger, Toombs, Elam, Gaines & Frank Fort Pierce, Florida June 10, 2013 Port of the Islands Community Improvement District ANNUAL FINANCIAL REPORT September 30, 2012 Port of the Islands Community Improvement District ANNUAL FINANCIAL REPORT Fiscal Year Ended September 30, 2012 TABLE OF CONTENTS s y i FINANCIAL SECTION REPORT OF INDEPENDENT AUDITORS 1 -2 MANAGEMENT'S DISCUSSION AND ANALYSIS 3 -8 BASIC FINANCIAL STATEMENTS Government -wide Financial Statements Statement of Net Assets 9 Statement of Activities 10 Fund Financial Statements Balance Sheet — General Fund 11 Reconciliation of Total General Fund Balances to Net Assets of Governmental Activities 12 Statement of Revenues, Expenditures and Changes in Fund Balances — General Fund 13 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of General Fund to the Statement of Activities 14 Statement of Revenues, Expenditures and Changes in Fund Balances — Budget and Actual — General Fund 15 Statement of Net Assets — Water & Sewer Fund 16 Statement of Revenues, Expenses and Changes in Fund Net Assets — Water & Sewer Fund 17 Statement of Cash Flows — Water & Sewer Fund 18 Notes to Financial Statements 19 -31 INDEPENDENT AUDITOR'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS 32 -33 MANAGEMENT LETTER 3435 Berger, Toombs, Elam, Gaines & Frank Cenified Public Accountants PL 600 Citrus Avenue Suite 200 Fort Pierce, Florida 34950 7721461.6120 // 461 -1155 FAX: 772/468.9278 Report of Independent Auditors To the Board of Supervisors Port of the Islands Community Improvement District Collier County, Florida We have audited the accompanying basic financial statements of Port of the Islands Community Improvement District (the "District ") as of and for the year ended September 30, 2012, as listed In the table of contents. These basic financial statements are the responsibility of the District's management. Our responsibility is to express an opinion on these basic financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Govemment Auditing Standards issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as ;evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis fear our opinion. In our opinion, the basic financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business type activities, the aggregate remaining fund information and each major fund of the District as of September 30, 2092, the respective changes in financial position, cash flows thereof, and the budgetary comparison for the General Fund for the year then ended in conformity with accounting principles generally accepted in the United States of America. In accordance with Govemment Auditing Standards, we have also issued a report dated June 10, 2013 on our consideration of the District`s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations and contracts. That report is an integral part of an audit performed in accordance ``Wth Government Auditing Standards and should be read in conjunction with this report In considering the results of our audit. Fort Pierce / Stuart Member AtCPA Member AICPA1Division For CPA Firms Member FICPA Private Companies Practice Section Berger, Toombs, Elam, Games & Frank To the Board of Supervisors Port of the Islands Community Improvement District The Management's Discussion and Analysis is not a required part of the basic financial statements but is supplementary information required by the Governmental Accounting Standards Board. We have applied certain limited procedures, which consisted principally of inquires of management regarding the methods of measurement and presentation of the supplementary information. However, we did not audit the information and express no opinion on it. IT�u �Aft Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants PL Fort Pierce, Florida June 10, 2013 -2- Port of the Islands Community Improvement District MANAGEMENT'S DISCUSSION AND ANALYSIS For the Year Ended September 30, 2012 Management's discussion and analysis of Port of the Islands Community Improvement District (the District) financial performance provides an objective and easily readable analysis of the District's financial activities. The analysis provides summary financial information for the District and should be read in conjunction with the District's financial statements. OVERVIEW OF THE FINANCIAL STATEMENTS The District's basic financial statements comprise three components; 1) Govemment -wide financial statements, 2) Fund financial statements, and 3) Notes to financial statements. The Government-wide financial statements present an overall picture of the District's financial position and results of operations. The Fund financial statements present financial information for the District's major funds. The Notes to financial statements provide additional information concerning the District's finances. The Government -wide financial statements are the statement of net assets and the statement of activities. These statements use accounting methods similar to those used by private - sector companies. Emphasis is placed on the net assets of governmental activities and business -type activities and the change in net assets. Governmental activities are primarily supported by special assessments. Business -type activities are supported by charges to the users of those activities, such as water and sewer service charges. The statement of net assets presents information on all assets and liabilities of the District, with the difference between assets and liabilities reported as net assets. Net assets are reported in three categories; 1) invested in capital assets, net of related debt, 2) restricted and 3) unrestricted. Assets, 'liabilities, and net assets are reported for all Governmental activities separate from the assets, liabilities, and net assets of business -type activities. The statement of activities presents information on all revenues and expenses of the District and the change in net assets. Expenses are reported by major function and program revenues relating to those functions are reported, providing the net cost of all functions provided by the District. To assist in understanding the District's operations, expenses have been reported as governmental activities or business -type activities. Governmental activities financed by the District include physical environment and general and government. Business -type activities financed by user charges include water and sewer services. Fund financial statements present financial information for the governmental fund and enterprise fund. These statements provide financial information for the major funds of the District. Governmental fund financial statements provide information on the current assets and liabilities of the funds, changes in current financial resources (revenues and expenditures), and current available resources. The enterprise funds financial statements provide information on all assets and liabilities of the funds, changes in the economic resources (revenues and expenses), and total economic resources. -3- Port of the Islands Community Improvement District MANAGEMENT'S DISCUSSION AND ANALYSIS For the Year Ended September 30, 2012 OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED) Fund financial statements include a balance sheet and a statement of revenues, expenditures and changes in fund balances for all governmental funds. A statement of revenues, expenditures, and changes in fund balances — budget and actual, is provided for the District's General Fund. For the water and sewer fund, a statement of net assets, a statement of revenues, expenses, and changes in fund net assets; and a statement of cash flows are presented. Fund financial statements provide more detailed information about the District's activities. Individual funds are established by the District to track revenues that are restricted to certain uses or to comply with legal requirements. The govemment wide financial statements and the fund financial statements provide different pictures of the District. The government -wide financial statements provide an overall picture of the District's financial standing, split between Governmental Activities and Business -type Activities. These statements are comparable to private-sector companies and give a good understanding of the District's overall financial health and how the District paid for the various activities, or functions, provided by the District. All assets of the District, including buildings, land, and roads are reported in the statement of net assets. All liabilities, including principal outstanding on bonds, and future employee benefits obligated but not paid by the District, are included. The statement of activities includes depreciation on all long lived assets of the District, but transactions between the different functions of the District have been eliminated in order to avoid "doubling up" the revenues and expenses. The fund financial statements provide a picture of the major funds of the District and a column for all nor -major funds. In the case of governmental activities, outlays for long lived assets are reported as expenditures and long term liabilities, such as general obligation bonds, are not included in the fund financial statements. To provide a link from the fund financial statements to the government -wide financial statements, a reconciliation is provided from the fund financial statements to the govemment- wide financial statements. Notes to financial statements provide additional detail concerning the financial activities and financial balances of the District. Additional information about the accounting practices of the District and investments of the District are some of the items included in the notes to the financial statements. Financial Hidhliehts The following are the highlights of financial activity for the year ended September 30, 2012. ♦ The District's total assets exceeded total liabilities by $9,634,397. Unrestricted net assets for Governmental Activities were $1,206,358 and for Business -type activities were $(502,671). Invested in capital assets, net of related debt for Governmental Activities were $879,493 and for Business -type activities were $8,051,217. -4- Port of the Islands Community Improvement District MANAGEMENT'S DISCUSSION AND ANALYSIS For the Year Ended September 30, 2012 OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED) Financial Highlights (Continued) ♦ Governmental activities revenues totaled $399,535 while governmental activities expenses totaled $403,764. Business -type revenues totaled $1,222,208 while business - type expenses totaled $1,320,864. Financial Analysis of the District The following schedule provides a summary of the assets, liabilities and net assets of the District. It is not intended to be a complete presentation of government -wide financial activity. Net Assets Governmental Activities Busines"pe Activities Total 2012 2011 .., 2012 2011 2012 2011 Current assets $ 1,221,535 $ 1,169,098 $ 392,212 $ 3,965,771 $ 1,613,747 $ 5,134,869 Capital assets, net 679,493 927,932 12,019,801 9,012,140 12,899,294 9,940,072 Other non - current assets - - 31,621 38,627 31,621 38,627 Total Assets 2,101,028 2,097,030 12,443,634 13,016,538 14,544,662 15,113,568 Current liabilities 15,177 6,950 889,358 866,303 904,535 873,253 Non - current liabilities - 4,005,730 4,503,033 4,005,730 4,503,033 Total Liabilities 15,177 6,950 4,895,088 5,369,336 4,910,265 5,376,286 Net Assets Investment in capital assets, net related debt 879,493 927,932 8,051,217 8,005,337 8,930,710 8,933,269 Unrestricted 1,206,358 1,162,148 (502,671) (358,135) 703,687 804,013 Total Net Assets $ 2,065,851 $ 2,090,080 $ 7,548,546 $ 7,647,202 $ 9,634,397 $ 9,737,282 The increase in current assets for governmental activities is primarily due to increases in cash and investments as a result of the positive changes in net assets. The decrease in current assets and the increase in capital assets for business -type activities is primarily due to the capital activity in the current year paid from the construction fund. The decrease in capital assets for governmental activities is primarily due to depreciation expense in the current year. The decrease in non - current liabilities for business -type activities is primarily due to principal payments on bonds in the current year. M71111 Port of the Islands Community Improvement District MANAGEMENT'S DISCUSSION AND ANALYSIS For the Year Ended September 30, 2012 OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED) Financial Analysis of the District (Continued) The following schedule provides a summary of the changes in net assets of the District and is presented at the government -wide level for comparison purposes. It is not intended to be a complete presentation of District -wide financial activity. Program Revenues Charges for services General Revenues Investment earnings Miscellaneous Total Revenues Expenses General government Physical environment Water and sewer Total Expenses Change in Net Assets Net Assets - Beginning of Year Net Assets - End of Year Financial Activity Govemmental Activities Business -type Activities Total 2012 2011 2012 2011 2012 2011 $ 391,027 $ 350,808 $ 1,208,042 $ 1,213,384 $ 1,599,069 $ 1,564,192 8,508 8,640 9,121 10,265 17,629 18,905 - 3,676 5,045 19,379 5,045 23,055 399,535 363,124 1,222,208 1,243,028 1,621,743 1,606,152 132,064 105,894 - - 132,064 105,894 271,700 283,940 - - 271,700 283,940 - 1,320,864 1,137,376 1,320,864 1,137,378 403,764 389,834 1,320,864 1,137,378 1,724,628 1,527,212 (4,229) (26,710) (98,656) 105,650 (102,885) 78,940 2,090,080 2,116,790 7,647,202 7,541,552 9,737,282 9,658,342 $ 2,085,851 $ 2,090,080 $ 7,548,546 $ 7,647,202 $ 9,634,397 $ 9,737,282 The increase in general government expenses is primarily due to an increase in professional service expenses in the current year. The increase in water and sewer expenses is primarily due to the disposal of capital assets in the current year. Port of the Islands Community Improvement District MANAGEMENT'S DISCUSSION AND ANALYSIS For the Year Ended September 30, 2012 OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED) Capital Assets Activity The following schedule provides a summary of the District's capital assets at September 30, 2012. During the year, depreciation expense was $48,439 for governmental activities. Capital assets totaling $3,434,427 were added, capital assets totaling $1,832,879 were placed in service, capital assets with a net book value of $105,500 were disposed of and depreciation expense was $321,266 for business -type activities. General Fund Budnetary Hiahllahts The budget exceeded governmental expenditures primarily because of lower general government operating and physical environment costs than were expected. There were no amendments to the September 30, 2012 budget. Debt Manauement Business -type Activities debt includes the following: • In October 2010, the District issued $5,500,000 Special Assessment Revenue, Series 2010 bonds. These bonds were issued to finance the construction of financing a potable water treatment plant within the District. The balance outstanding at September 30, 2012 was $4,503,033. -7- Governmental Business -Type Description Activities Activities Total Land and improvements $ 228,197 $ 293,061 $ 521,258 Improvements other than buildings 110,121 - 110,121 Infrastructure 1,313,611 15,206,163 16, 519,774 Equipment 15,613 226,308 241,921 Construction in progress - 9,079 9,079 Less: accumulated depreciation (788,049) (3,714,810) (4,502,859) Total Capital Assets (Net) $ 879,493 $ 12,019,801 $ 12,899,294 During the year, depreciation expense was $48,439 for governmental activities. Capital assets totaling $3,434,427 were added, capital assets totaling $1,832,879 were placed in service, capital assets with a net book value of $105,500 were disposed of and depreciation expense was $321,266 for business -type activities. General Fund Budnetary Hiahllahts The budget exceeded governmental expenditures primarily because of lower general government operating and physical environment costs than were expected. There were no amendments to the September 30, 2012 budget. Debt Manauement Business -type Activities debt includes the following: • In October 2010, the District issued $5,500,000 Special Assessment Revenue, Series 2010 bonds. These bonds were issued to finance the construction of financing a potable water treatment plant within the District. The balance outstanding at September 30, 2012 was $4,503,033. -7- Port of the Islands Community Improvement District MANAGEMENT'S DISCUSSION AND ANALYSIS For the Year Ended September 30, 2012 OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED) Economic Factors and Next Year's Budaet Port of the Islands Community Improvement District does not expect any economic factors to have any significant effect on the financial position or results of operations of the District in fiscal year 2013. Reauest for Information The financial report is designed to provide a general overview of Port of the Islands Community Improvement District's finances for all those with an interest. Questions concerning any of the information provided in this report or requests for additional information should be addressed to the District Manager, Severn Trent Management Services, 210 N. University Drive, Suite 702, Coral Springs, Florida 33071. -8- Port of the Islands Community Improvement District STATEMENT OF NET ASSETS September 30, 2012 ASSETS Current Assets Cash and equivalents Cash restricted for customer deposits Investments Accounts receivable Interest receivable Due from other governments Prepaid expenses Internal balances Total Current Assets Non- current Assets Bond issuance costs Capital assets, not being depreciated Land and improvements Construction in progress Capital assets, being depreciated Infrastructure Improvements other than buildings Equipment Less: accumulated depreciation Total Non - current Assets Total Assets LIABILITIES Current Liabilities Accounts payable and accrued expenses Customer deposits payable from restricted assets Accrued interest Retainage payable Bonds payable Total Current Liabilities Non - current Liabilities Bonds payable Total Liabilities NET ASSETS Invested in capital assets, net of related debt Unrestricted Total Net Assets Governmental Business -Type Activities Activities Total $ 811,590 170,364 417 665 3,005 1,884 233,610 1,221,535 228,197 1,313,611 110,121 15,613 (788,049) 879,493 2,101,028 15,177 15,177 $ 552,110 32,850 28,571 2,123 7,727 2,441 (233,610) 392,212 31,621 293,061 9,079 15,206,163 226,308 (3,714,810) 12, 051,422 12.443.634 276,475 32,850 65,857 16,873 497,303 889,358 $ 1,363,700 32,850 198,935 2,540 665 10,732 4,325 1,613,747 31,621 521,258 9,079 16,519,774 110,121 241,921 (4,502,859) 12,930,915 14,544,662 291,652 32,850 65,857 16,873 497,303 904,535 - 4,005,730 4;005,730 15,177 4,895,088 4,910,265 879,493 1,206,358 _$ 2.085.851 See accompanying notes to financial statements. -9- 8,051,217 (502,671) 7,548;546 8,930,710 703,687 2 9 ,634:397 N Co y V Q co 0 .c' e a m m 5l O r co tL IM CNO l� tN0 c COO M N O V O vOD N N O C7 M CA 6CA. EL N N t� co O C0 NOS' r C CO N r+ d C C v ti to Ul CO N- t e N d co r- C C 0 tC N 0 LO N Z E =' ��'r r'' co co �, M co C O E O'O d N d v N N E Q W M (� 64 bq CS EP E .. OOCAh N O eN- V .d+ CL E 00 O O a-- N 'C 1-: 4 W M co W `,' C ) + O O c 7 O N m d' r CV C7 N to O N ` 'C £ I-- O` > d' '- O 07 (L t ca N Q m E LU '� V LL U o d Z to W c c`s N c 'a F- NO co m y o a� C W 0 4) p� O CO i y 0i y I` O Cfl rN+ 0) pQ}. �N� M �° �° O F- U ca vi vNi a� v > N Q Q LL x W r T c 64 6 C7 Z Z O CL •� c V Q C N > D C (D O Rtm o a0 IL > a w � � ,,10 a h COX � U tti F- c Ca p >'o�a~ C 9+ 0 y O c E N LLac7 m� N Co y V Q co 0 .c' e a m m 5l O r Port of the Islands Community Improvement District BALANCE SHEET GENERAL FUND September 30, 2012 ASSETS Cash and equivalents Investments Accounts receivable Interest receivable Due from other funds Due from other governments Prepaid expenses Total Assets LIABILITIES AND FUND BALANCES Liabilities: Accounts payable and accrued expenses Fund Balances: Nonspendable: Investments - Fund B Prepaid expenses Assigned - first quarter operations Unassigned Total Fund Balances Total Liabilities and Fund Balances See accompanying notes to financial statements. - 11 - $ 811,590 170,364 417 665 233,610 3,005 1,884 $ 1,221,535 $ 15,177 13,417 1,884 105,018 1,086,039 1,206,358 $ 1,221,535 Port of the Islands Community Improvement District RECONCILIATION OF TOTAL GENERAL FUND BALANCES TO NET ASSETS OF GOVERNMENTAL ACTIVITIES September 30, 2012 Total Governmental Fund Balances $ 1,206,358 Amounts reported for governmental activities in the Statement of Net Assets are different because: Capital assets, $1,667,542, net of accumulated depreciation, $(788,049), used in governmental activities are not financial resources and; therefore, are not reported in the funds. 879,493 Net Assets of Governmental Activities See accompanying notes to financial statements. -12- $ 2,085,851 Port of the Islands Community Improvement District STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - GENERAL FUND For the Year Ended September 30, 2012 Revenues Special assessments Investment income Total Revenues Expenditures Current General government Physical environment Total Expenditures Net change in fund balances Fund Balances - October 1, 2011 Fund Balances - September 30, 2012 See accompanying notes to financial statements. -13- $ 391,027 8,508 399,535 132,064 223,261 355,325 44,210 1,162,148 $1,206,358 Port of the Islands Community Improvement District RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES OF GENERAL FUND TO THE STATEMENT OF ACTIVITIES For the Year Ended September 30, 2012 Net Change in Fund Balances -Total Governmental Funds $ 44,210 Amounts reported for governmental activities in the Statement of Activities are different because: Governmental funds report capital outlays as expenditures. However, in the Statement of Activities, the cost of those assets is allocated over their estimated useful lives as depreciation expense. This is the amount of depreciation expense. (48,439) Change in Net Assets of Governmental Activites See accompanying notes to financial statements. -14- $ __ (4,229 Port of the Islands Community Improvement District STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES - BUDGET AND ACTUAL - GENERAL FUND For the Year Ended September 30, 2012 Revenues Special assessments Investment income Total Revenues Expenditures Current General government Physical environment Capital outlay Total Expenditures Net change in fund balance Fund Balances - October 1, 2011 Fund Balances - September 30, 2012 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) $ 417,984 $ 417,984 $ 391,027 $ (26,957) 2,090 2,090 8,508 6,418 420,074 420,074 399,535 ` (20,539) 117,132 117,132 132,064 (14,932) 229,461 229,461 223,261 6,200 73,481 73,481 - 73,481 420,074 420,074 3551325 64,749 44,210 44,210 1,175,916 1,175,916 1,162,148 13,768 $1,175,916 $1,175,916 $ 1,206,358 $ 30,442 See accompanying notes to financial statements. -15- Port of the Islands Community Improvement District STATEMENT OF NET ASSETS - WATER & SEWER FUND September 30, 2012 ASSETS Current Assets Cash and equivalents Cash restricted for customer deposits Investments Accounts receivable Due from other governments Prepaid expenses Total Current Assets Non - Current Assets Bond issuance costs Land and improvements Improvements other than buildings Equipment Construction in progress Less: Accumulated depreciation Total Non - Current Assets Total Assets LIABILITIES Current Liabilities Accounts payable and accrued expenses Due to other funds Customer deposits payable from restricted assets Accrued interest Retainage payable Bonds payable Total Current Liabilities Non - current Liabilities Bonds payable Total Liabilities NET ASSETS Invested in capital assets, net of related debt Unrestricted Total Net Assets See accompanying notes to financial statements. -16- $ 552,110 32,850 28,571 2,123 7,727 2,441 62F,8-22 31,621 293,061 15,206,163 226,308 9,079 (3,714,810) 12,051,422 12,677,244 276,475 233,610 32,850 65,857 16,873 497,303 x'6`8 4,005,730 5,128,698 8,051,217 (502,671) $ 7,548,546 Port of the Islands Community Improvement District STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS - WATER & SEWER FUND September 30, 2012 Operating Revenues: Charges for services Water Sewer Irrigation Special assessments Miscellaneous revenues Total Operating Revenues Operating Expenses: General and administrative Plant operations Depreciation Total Operating Expenses Operating Income(Loss) Non - Operating Revenues (Expenses): Interest earnings Interest expense Loss on disposal of capital assets Total non - operating revenues/(expenses) Change in Net Assets Net Assets - October 1, 2011 Net Assets - September 30, 2012 See accompanying notes to financial statements. -17- $ 41,089 62,574 85,027 1,019,352 5,045 1,213,087 158,531 560,667 321,266 1,040,464 172,623 9,121 (174,900) (105,500) (271,279) (98,656) 7,647,202 $ 7,548,546 Port of the Islands Community Improvement District STATEMENT OF CASH FLOWS - WATER S SEWER FUND September 30, 2012 CASH FLOWS FROM OPERATING ACTIVITIES Receipts from customers $ 188,863 Receipts from special assessments 1,019,352 Payments to suppliers for goods and services (512,157) Net Cash Provided by Operating Activities 696,058 CASH FLOWS FROM CAPITAL AND $ 172,623 RELATED FINANCING ACTIVITIES Acquisition and construction of capital assets (3,434,427) Principal payments on long -term debt (480,440) Interest paid on long -term debt (174,920) Net Cash Used by Financing Activities (4,089,787) CASH FLOWS FROM INVESTING ACTIVITIES Sale of investments 3,626 Purchase of investments (5,035) Interest on pooled cash and investments 9,121 Net Cash Provided by Investing Activities 7,712 Net Decrease in Cash and Cash Equivalents (3,386,017) Cash and equivalents - Ocotober 1, 2011 3,970,977 Cash and equivalents- September 30, 2012 $ 584,960 r RECONCILIATION OF OPERATING INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES Operating income $ 172,623 Adjustments to reconcile operating income to net cash provided by operating activities: Depreciation expense 321,266 Decrease in accounts receivable 2,705 Increase in due from other governments (7,727) Increase in prepaid expenses (596) Increase in due to other funds 194,569 Increase in accounts payable and accrued expenses 98,866 Decrease in retainage payable (85,798) increase in customer deposits 150 Net Cash Provided by Operating Activities $ 696,058 See accompanying notes to financial statements. -18- Port of the Islands Community Improvement District NOTES TO FINANCIAL STATEMENTS September 30, 2012 NOTE A — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The financial statements of Port of the Islands Community Improvement District (the District) have been prepared in conformity with generally accepted accounting principles (GAAP) as applied to governmental units. The Governmental Accounting Standards Board (GASB) is the accepted standard- setting body for establishing governmental accounting and financial reporting principles. The District's more significant accounting policies are described below. 1. Reporting Entity The District is a local unit of special purpose government located in Collier County, Florida, (County) which was established pursuant to Ordinance No. 86 -64 (Act) enacted by the County Commission effective September 16, 1986. The District was established for the purpose of establishing and maintaining a water and sewer system, road and drainage systems, and other systems and facilities as provided in Section 190 of the Florida Statutes. The District is governed by a five- member Board of Supervisors ( "the Board "). The District operates within the criteria established by Chapter 190. The Board has the final responsibility for: 1) assessing and levying maintenance taxes and special assessments, 2) approving budgets, 3) exercising control over facilities and properties, 4) controlling the use of funds generated by the District, 5) approving the hiring and firing of key personnel, and 6) financing improvements. As required by GAAP, these financial statements present the Port of the Islands Community Improvement District (the primary government), as a stand -alone government. The reporting entity for the District includes all functions of government in which the District's Board exercises oversight responsibility which includes, but is not limited to, financial interdependency, selection of governing authority, designation of management, significant ability to influence operations and accountability for fiscal matters. Based upon the application of the above- mentioned criteria, as set forth by the Governmental Accounting Standards Board, the District has identified no component units. 2. Measurement Focus and Basis of Accounting The basic financial statements of the District are composed of the following: • Government -wide financial statements • Fund financial statements • Notes to financial statements -19- Port of the Islands Community Improvement District NOTES TO FINANCIAL STATEMENTS September 30, 2012 NOTE A — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 2. Measurement Focus and Basis of Accounting (Continued) a. Government -wide Financial Statements Government -wide financial statements report all non - fiduciary information about the reporting government as a whole. These statements include separate columns for the governmental and business -type activities of the primary government. For the most part, the effect of interfund activity has been removed from these statements. Governmental activities which normally are supported by special assessments and interest, are reported separately from business -type activities. Program revenues include charges for services and special assessments. Program revenues are netted with program expenses in the Statement of Activities to present the net cost of each program Amounts paid to acquire capital assets are capitalized as assets, rather than reported as an expenditure. Proceeds of long -term debt are recorded as liabilities in the government -wide financial statements, rather than as an other financial source. Amounts paid to reduce long -term indebtedness of the reporting government are reported as a reduction of the related liability, rather than as an expenditure. b. Fund Financial Statements The underlying accounting system of the District is organized and operated on the basis of separate funds, each of which is considered to be a separate accounting entity. The operations of each fund are accounted for with a separate set of self - balancing accounts that comprise its assets, liabilities, fund equity, revenues and expenditures or expenses, as appropriate. Governmental resources are allocated to and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled. Fund financial statements for the primary government's governmental funds are presented after the government -wide financial statements. These statements display information about major funds individually. Governmental Funds The District classifies fund balance according to Governmental Accounting Standards Board Statement 54 - Fund Balance Reporting and Govemmental Fund Type Definitions; The Statement requires the fund balance for governmental funds to be reported in classifications that comprise a hierarchy based primarily on the extent to which the government is bound to honor constraints on the specific purposes for which amounts in those funds can be spent. The classifications include non - spendable, restricted, committed, assigned and unassigned. -20- Port of the Islands Community Improvement District NOTES TO FINANCIAL STATEMENTS September 30, 2012 NOTE A — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 2. Measurement Focus and Basis of Accounting (Continued) b. Fund Financial Statements (Continued) Governmental Funds (Continued) The District has various policies governing the fund balance classifications. Nonspendable Fund Balance — This classification consists of amounts that cannot be spent because they are either not in spendable form or are legally or contractually required to be maintained intact. Restricted Fund Balance — This classification includes amounts that can be spent only for specific purposes stipulated by constitution, external resource providers, or through enabling legislation. Assigned Fund Balance — This classification consists of the Board of Supervisors' intent to be used for specific purposes, but are neither restricted nor committed. Unassigned Fund Balance — This classification is the residual classification for the government's general fund and includes all spendable amounts not contained in the other classifications. Unassigned fund balance is considered to be utilized first when an expenditure is incurred for purposes for which amounts in any of those unrestricted fund balance classifications could be used. Fund Balance Spending Hierarchy - For all governmental funds except special revenue funds, when restricted, committed, assigned, and unassigned fund balances are combined in a fund, qualified expenditures are paid first from restricted or committed fund balance, as appropriate, then assigned and finally unassigned fund balances. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. Interest associated with the current fiscal period is considered to be an accrual item and so has been recognized as revenue of the current fiscal period. Under the current financial resources measurement focus, only current assets and current liabilities are generally included on the balance sheet. The reported fund balance is considered to be a measure of "available spendable resources ". Governmental fund operating statements present increases (revenues) and decreases (expenditures) in net current assets. Accordingly, they are said to present a summary of sources and uses of "available spendable resources" during a period. -21- Port of the Islands Community Improvement District NOTES TO FINANCIAL STATEMENTS September 30, 2012 NOTE A — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 2. Measurement Focus and Basis of Accounting (Continued) b. Fund Financial Statements (Continued) Governmental Funds (Continued) Because of their spending measurement focus, expenditure recognition for governmental fund types excludes amounts represented by non - current liabilities. Since they do not affect net current assets, such long -term amounts are not recognized as governmental fund type expenditures or fund liabilities. Amounts expended to acquire capital assets are recorded as expenditures in the year that resources were expended, rather than as fund assets. The proceeds of long -term debt are recorded as an other financing source rather than as a fund liability. Debt service expenditures, as well as expenditures related to compensated absences, are recorded only when payment is due. Enterprise Funds In the fund financial statements, the Enterprise Fund is presented using the accrual basis of accounting. Revenues are recognized when they are earned and expenses are recognized when the related goods or services are delivered. In the fund financial statements, the Enterprise Fund is presented using the economic resources measurement focus. This means that all assets and all liabilities (whether current or non - current) associated with their activity are included on their balance sheets. Enterprise Fund operating statements present increases (revenues) and decreases (expenses) in total net assets. The District applies all GASB pronouncements as well as all FASB Statements and Interpretations, APB Opinions and Accounting Research Bulletins, issued on or before November 30, 1989, which do not conflict with, or contradict, GASB pronouncements. Enterprise Fund operating revenues, such as charges for services, result from exchange transactions associated with the principal activity of the fund. Exchange transactions are those in which each party receives and gives up essentially equal values. Non- operating revenues, such as investment earnings, result from non - exchange transactions or ancillary activities. Amounts paid to acquire capital assets are capitalized as assets in the fund financial statements, rather than reported as expenditures. Proceeds of long -term debt are recorded as a liability in the fund financial statements, rather than as other financing sources. Amounts paid to reduce long -term indebtedness are reported as a reduction of the related liabilities, rather than as an expense. -22- Port of the Islands Community Improvement District NOTES TO FINANCIAL STATEMENTS September 30, 2012 NOTE A — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 3. Basis of Presentation a. Governmental Major Funds General Fund - The General Fund is the District's primary operating fund. It accounts for all financial resources of the general government, except those required to be accounted for in another fund. b. Enterprise Major Fund Water and Sewer Fund - The Water and Sewer Fund accounts for the operations of the water and sewer plant, which are funded by proceeds from operations of these facilities, including special assessments, user fees, meter fees and connection fees. c. Non - Current Governmental Assets /Liabilities GASB Statement 34 requires that non - current governmental assets, such as land and buildings, and non - current governmental liabilities, such as general obligation bonds, due to developer and accrued compensated absences be reported in the governmental activities column in the government -wide Statement of Net Assets. 4. Assets, Liabilities, and Net Assets or Equity a. Cash and Investments Florida Statutes require state and local governmental units to deposit monies with financial institutions classified as "Qualified Public Depositories," a multiple financial institution pool whereby groups of securities pledged by the various financial institutions provide common collateral from their deposits of public funds. This pool is provided as additional insurance to the federal depository insurance and allows for additional assessments against the member institutions, providing full insurance for public deposits. The District is authorized to invest in those financial instruments as established by Section 218.415, Florida Statutes. The authorized investments consist of: 1. Direct obligations of the United States Treasury; 2. The Local Government Surplus Funds Trust or any intergovernmental investment pool authorized pursuant to the Florida lnterlocal Cooperative Act of 1969; 3. Interest - bearing time deposits or savings accounts in authorized qualified public depositories; -23- Port of the Islands Community Improvement District NOTES TO FINANCIAL STATEMENTS September 30, 2012 NOTE A — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 4. Assets, Liabilities, and Net Assets or Equity (Continued) a. Cash and Investments (Continued) 4. Securities and Exchange Commission, registered money market funds with the highest credit quality rating from a nationally recognized rating agency. For purposes of the statement of cash flows, cash equivalents include time deposits, certificates of deposit and all highly liquid debt instruments with original maturities of three months or less and held in a qualified public depository as defined by Section 280.02, Florida Statutes. b. Receivables and Payables Activity between funds that are representative of lending /borrowing arrangements outstanding at the end of the fiscal year are referred to as "due toffrom other funds ". Any residual balances outstanding between the governmental activities and business -type activities are reported as "internal balances ". c. Restricted Assets Certain net assets of the District are classified as restricted assets on the Statement of Net Assets because their use is limited either by law through constitutional provisions or enabling legislation; or by restrictions imposed externally by creditors. In a fund with both restricted and unrestricted assets, qualified expenses are considered to be paid first from restricted net assets and then from unrestricted net assets. d. Capital Assets Capital assets, which include land, buildings, infrastructure, equipment and construction in progress, are reported in the applicable governmental or business - type activities column. The District defines capital assets as assets with an initial, individual cost of $5,000 or more and an estimated useful life in excess of one year. The valuation basis for all assets is historical cost. The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend its useful life are not capitalized. Major outlays for capital assets and improvements are capitalized as projects are constructed. -24- Port of the Islands Community Improvement District NOTES TO FINANCIAL STATEMENTS September 30, 2012 NOTE A — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 4. Assets, Liabilities, and Net Assets or Equity (Continued) d. Capital Assets (Continued) Depreciation of capital assets is computed and recorded by utilizing the straight -line method. Estimated useful lives of the various classes of depreciable capital assets are as follows: Improvements other than Buildings 5-48 years Equipment 5 -15 years Infrastructure 15 -30 years e. Budgets Budgets are prepared and adopted after public hearings for the governmental funds, pursuant to Chapter 190 and Section 200.065, Florida Statutes. The District utilizes the same basis of accounting for budgets as it does for revenues and expenditures in its various funds. The legal level of budgetary control is at the fund level. All budgeted appropriations lapse at year end. Formal budgets are adopted for the general and debt service funds. As a result, deficits in the budget columns of the accompanying financial statements may occur. NOTE B — RECONCILIATION OF GOVERNMENT -WIDE AND FUND FINANCIAL STATEMENTS 1. Explanation of Differences Between the Governmental Fund Balance Sheet and the Government -wide Statement of Net Assets "Total fund balances" of the District's governmental funds, $1,206,358, differs from "net assets" of governmental activities, $2,085,851, reported in the Statement of Net Assets. This difference primarily results from the long -term economic focus of the Statement of Net Assets versus the current financial resources focus of the governmental fund balance sheet. The effect of the differences is illustrated below. -25- Port of the Islands Community Improvement District NOTES TO FINANCIAL STATEMENTS September 30, 2012 NOTE B — RECONCILIATION OF GOVERNMENT -WIDE AND FUND FINANCIAL STATEMENTS (CONTINUED) 1. Explanation of Differences Between the Governmental Fund Balance Sheet and the Government -wide Statement of Net Assets (Continued) Capital related items When capital assets (land, buildings, infrastructure and equipment that are to be used in governmental activities) are purchased or constructed, the cost of those assets is reported as expenditures in governmental funds. However, the Statement of Net Assets included those capital assets among the assets of the District as a whole. Improvements $ 228,197 Infrastructure 1,313,611 Equipment 15,613 Improvements other than buildings 110,121 Accumulated depreciation (788,049) Total $ 879.493 2. Explanation of Differences Between the Governmental Fund Operating Statements and the Statement of Activities The "net changes in fund balances" for government funds, $44,210, differs from the "change in net assets" for governmental activities, $(4,229), reported in the Statement of Activities. The differences arise primarily from the long -term economic focus of the Statement of Activities versus the current financial resources focus of the governmental funds. The effect of the differences is illustrated as follows. Capital related items When capital assets that are to be used in governmental activities are purchased or constructed, the resources expended for those assets are reported as expenditures in governmental funds. However, in the Statement of Activities, the costs of those assets are allocated over their estimated useful lives and reported as depreciation expense. As 'a result, fund balances decrease by the amount of financial resources expended, whereas, net assets decrease by the amount of depreciation expense charged for the year. Depreciation expense -26- Port of the Islands Community Improvement District NOTES TO FINANCIAL STATEMENTS September 30, 2012 NOTE C - CASH AND INVESTMENTS All deposits are held in qualified public depositories and are included on the accompanying balance sheet as cash and investments. Custodial Credit Risk - Deposits Custodial credit risk is the risk that in the event of a bank failure, the District's deposits may not be returned to it. The District does not have a formal deposit policy for custodial credit risk. The District does, however, follow the provisions of Chapter 280, Florida Statutes regarding deposits and investments. As of September 30, 2012, the District's bank balance was $1,396,543 and the carrying value was $1,396,550. Exposure to custodial credit risk was as follows. The District maintains all deposits in a qualified public depository in accordance with the provisions of Chapter 280, Florida Statutes, which means that all deposits are fully insured by Federal Depositors Insurance or collateralized under Chapter 280, Florida Statutes. As of September 30, 2012, the District had the following investments and maturities: Investment Certificate of Deposit Local Government Surplus LGIP Fund B Total Investments Maturities Fair Value 09/13/13 $ 151,050 N/A 9,484 N/A 38,401 198,935 The District's investment policy allows management to invest funds in investments permitted under Section 218.415, Florida Statutes. Among other investments, the policy allows the District to invest in the State Board of Administration Local Government Surplus Trust Funds. Cash placed with the State Board of Administration represents the District's participation in the Local Government Surplus Trust Funds Investment Pool and is reported at fair value. As a pool participant the District invests in pools of investments in which shares are owned in the pool rather than the underlying investments. These funds are divided into the LGIP fund and Fund B. The District had investments reported at fair value of $38,401 at September 30, 2012 in Fund B. Fund B is not rated by any nationally recognized rating agency. Fund B consists of assets transferred from the LGIP in December 2007 that represented securities that had defaulted or are in default, or have extended payout times or are subject to potentially elevated credit risk. These funds are not subject to withdrawal, but will be paid as they mature. Fair market value is determined and reported as disclosed by the State Board of Administration. The calculation of the net change in the fair value of investments is independent of the calculation of realized gains and losses. -27- Port of the Islands Community Improvement District NOTES TO FINANCIAL STATEMENTS September 30, 2012 NOTE C - CASH AND INVESTMENTS (CONTINUED) Interest Rate Risk The District does not have a formal investment policy that limits investment maturities as a means of managing its exposure to fair value losses arising from increasing interest rates. Credit Risk The District has no investment policy that would further limit its investment choices. The Local Government Surplus Funds Trust is an authorized investment under Section 218.415, Florida Statutes. The District's investments in the state investment pool and government loans are limited by state statutory requirements and bond compliance. The District has monies invested with the Local Government Surplus Funds Trust Fund (Fund), at September 30, 2012. This fund met the requirements of a "2a7 -like pool" as defined in Government Accounting Standards Board, Statement 31. Concentration of Credit Risk The District places no limit on the amount it may invest in any one fund. The investment in the certificate of deposit represents 76% of the District's investments. The investment in Local Government Surplus Funds Trust represents 24% of the District's investments. The types of deposits and investments and their level of risk exposure as of September 30, 2012 were typical. NOTE D — SPECIAL ASSESSMENT REVENUES Special assessment revenues recognized for the 2011 -2012 fiscal year were levied in October 2011. All taxes are due and payable on November 1 or as soon as the assessment roll is certified and delivered to the Tax Collector. Per Section 197.162, Florida Statutes, discounts are allowed for early payment at the rate of 4% in November, 3% in December, 2% in January, and 1 % in February. Taxes paid in March are without discount. All unpaid taxes become delinquent as of April 1. Virtually all unpaid taxes are collected via the sale of tax certificates on or prior to, June 1; however, the District had $358,892 in special assessments receivable at September 30, 2012 which were offset by an allowance for doubtful accounts in the same amount. -28- Port of the Islands Community Improvement District NOTES TO FINANCIAL STATEMENTS September 30, 2012 NOTE E — RECEIVABLE AND PAYABLE BALANCES Accounts Receivable Accounts receivable in the Enterprise Fund at September 30, 2012 consisted of trade receivables. Receivables are recorded at their net realizable value. Accounts Payable Accounts payable and accrued expenses in the General Fund consisted of vendor payables due in the amount of $15,177. Accounts payable and accrued expenses in the Enterprise Fund consisted of vendor payables in the amount of $276,475. NOTE F — CAPITAL ASSETS Capital asset activity for governmental activities for the year ended September 30, 2012 was as follows: Governmental Activities: Capital assets, not being depreciated; Land and improvements Capital assets, being depreciated: Infrastructure Improvements other than buildings Equipment Total Capital Assets, Being Depreciated Total Capital Assets Less accumulated depreciation for: Infrastructure Buildings and improvements Equipment Total Accumulated Deprecitation Total Capital Assets Being Depreciated, Net Governmental Activities Capital Assets Balance Balance October 1, September 30, 2011 Additions Deletions 2012 $ 228,197 $ - $ - $ 228,197 1,313,611 - 1,313,611 110,121 - - 110,121 15,613 - 15,613 1,439,345 - 1,439,345" 1,667,542 - - 1,667,542 (626,089) (47,549) - (673,638) (97,908) (890) - (98,798) (15,613) - - (15,613) (739,610) (48,439) - (788,049) 699,735 (48,439) - 651,296 $ 927,932 $ (48,439) $ - $ 879,493 Depreciation expense of $48,439 was charged to physical environment. -29- Port of the Islands Community Improvement District NOTES TO FINANCIAL STATEMENTS September 30, 2012 NOTE F — CAPITAL ASSETS (CONTINUED) The following is a summary of changes in the Water & Sewer Fund fixed assets for the year ended September 30, 2012. Business -tvoe Activities: Capital assets, not being depreciated: Land and improvements Construction in progress Total Capital Assets, Not Depreciated Capital assets, being depreciated: Improvements other than buildings Equipment Total Capital Assets, Being Depreciated Less accumulated depreciation for: Improvements other than buildings Equipment Total Accumulated Depreciation Total Capital Assets Depreciated, Net Business -Type Activities Capital Assets Balance Balance October 1, September 30, 2011_ Additions Deletions 2012 $ 288,459 $ 4,602 $ $ 293,061 1,835,968 5,990 (1,832,879) 9,079 2,124,427 10,592 (1,832,879) 302,140 10,181,866 5,213,931 (189,634) 15,206,163 186,386 42,782 (2,860) 226,308 10,368,252 5,256,713 (192,494) 15,432,471 (3,404,273) (312,822) 84,134 (3,632,961) (76,265) (8,444) 2,860 (81,849) (3,480,538) (321,266) 86,994 (3,714,810) 6,887,714 4,935,447 (105,500) 11,717,661 $ 9,012,141 $ 4,946,039 $ (1,938,379) $ 12,019,801 Depreciation expense of $321,266 was charged to water and sewer. NOTE G — LONG TERM DEBT The following is a summary of activity in the long -term debt of the District for the year ended September 30, 2012: Business -Vpe Activities Long -term debt at October 1, 2011 $ 4,983,473 Principal payments (480,440) Long -term debt at September 30, 2012 L===4&Q= -30- Port of the Islands Community Improvement District NOTES TO FINANCIAL STATEMENTS September 30, 2012 NOTE G — LONG TERM DEBT (CONTINUED) Long -term debt is comprised of the following: $5,500,000 Series 2010 Special Assessment Revenue Bonds, due in annual principal installments, beginning May 2011. interest is due semi - annualy on May 1 and November 1 at a rate of 3.510 %. 4.503.033 The annual requirements to amortize the principal and interest of bonded debt outstanding as of September 30, 2012 are as follows: Year Ending September 30, Principal Interest Total 2013 $ 497,303 2014 514,758 2015 532,827 2016 551,529 2017 570,887 2018 -2020 1,835,729 $ 158,056 140,601 122,533 103,831 84,472 130,350 $ 655,359 655,359 655,360 655,360 655,359 1,966,079 Totals $ 4,5031033 $ 739,843 $ 5,242,876 NOTE H — RISK MANAGEMENT The government is exposed to various risks of loss related to torts; theft of, damage to and destruction of assets; errors and omissions; and natural disasters for which the government carries commercial insurance. NOTE I — LITIGATION The District is involved in litigation with a landowner related to the non - payment of fiscal year 2010 through 2012 special assessments. In total, the District has not received $35B,892 of assessments. During 2010, the landowner filed for Chapter 11 Bankruptcy. An allowance account has been established related to outstanding assessments. Subsequent to year end, the District reached a preliminary agreement with the landowner, however, the agreement has not been finalized and the District has not received any payment for the special assessment balance noted above. NOTE J — RELATED PARTY TRANSACTIONS A company owned by the son of a board member provided construction services to the District during the fiscal year. Amounts paid to the company during the year totaled $12,914 and, as of September 30, 2012, the District owed the company $14,314. -31- Berger, Toombs, Elam, Gaines & Frank Ceriifitd Public Accouatsntc PL 600 Citrus Avenue Suite 200 Fort Pierce, Florida 34950 772/461.6120 // 461 -1155 FAX: 772/468 -9278 INDEPENDENT AUDITOR'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS To the Board of Supervisors Port of the Islands Community Improvement District Collier County, Florida We have audited the financial statements of Port of the Islands Community Improvement District (the District) as of and for the year ended September 30, 2012 and have issued our report thereon dated June 10, 2013. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Govemment Auditing Standards, issued by the Comptroller General of the United States. Internal Control over Financial Renortin Management of Port of the Islands Community Improvement District is responsible for establishing and maintaining effective internal control over financial reporting. In planning and performing our audit, we considered Port of the Islands Community Improvement District's internal control over financial reporting as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of Port of the Islands Community Improvement District's internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of Port of the Islands Community Improvement District's internal control over financial reporting. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity's financial statements will not be prevented, or detected and corrected on a timely basis. Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be deficiencies, significant deficiencies or material weaknesses. We did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses, as defined above. Fort Pierce / Stuart -32- Member AICPA Member AICPA Division For CPA Firms Member fICPA Private Companies Practice Section Berger, Toombs, Elan, Gaines & Frank war ♦.r.r n To the Board of Supervisors Port of the Islands Community Improvement District Compliance and Other Mattem As part of obtaining reasonable assurance about whether the District's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit and, accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. This report is intended solely for the information and use of the Board of Supervisors, Management, others within the entity and the Auditor General of the State of Florida and is not intended to be and should not be used by anyone other than those specified parties. Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants, PL Fort Pierce, Florida June 10, 2013 -33- Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants PL 600 Citrus Avenue Suite 200 Fort Pierce, Florida 34950 772/461.6120 // 461 -1155 FAX. 772/468 -9278 MANAGEMENT LETTER To the Board of Supervisors Port of the Islands Community Improvement District Collier County, Florida We have audited the financial statements of the Port of the Islands Community Improvement District, Florida as of and for the year ended September 30, 2012, and have issued our report thereon dated June 10, 2013. We conducted our audit in accordance with auditing standards generally accepted in the United States; the standards applicable to financial audits contained in Govemment Auditing Standards, issued by the Comptroller General of the United States and Chapter 10.550, Rules of the Florida Auditor General. We have issued our Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards. Disclosures in that report which is dated June 10, 2013 should be considered in conjunction with this Management Letter. Additionally, our audit was conducted in accordance with the provisions of Chapter 10.550, Rules of the Auditor General which governs the conduct of local entity audits performed in the State of Florida. The Rules of the Auditor General (Section 10.554(1)(i)1.) require that we address in the Management Letter, if not already addressed in the auditor's report on compliance and internal controls, whether or not recommendations made in the preceding annual financial report have been followed. There were no recommendations made in the preceding audit report. As required by the Rules of the Auditor General (Section 10.554(1)(i)2.) the scope of our audit included a review of the provisions of Section 218.415, Florida Statutes regarding the investment of public funds. In connection with our audit, we determined that Port of the Islands Community Improvement District complied with Section 218.415, Florida Statutes. The Rules of the Auditor General (Section 10.554(1)(i)3, 4 and 5.) require that we address in the Management Letter, if not already addressed in the auditor's report on compliance and internal controls: improvements in financial management and violations of contracts or grant agreements, fraud, illegal acts or abuse and deficiencies in internal control that are not significant deficiencies, other inaccuracies, shortages, defalcations, and instances of fraud discovered by, or that come to the attention of the auditor. Our audit did not discover any of the above items that require to be disclosed. Fort Pierce / Stuart -34- Member AICPA Member AICPA Division For CPA Firms Member FICPA Private Companies Practice Section Berger, Ts, Elam, Gaines &oombFrank To the Board of Supervisors Port of the Islands Community Improvement District As required by the Rules of the Auditor General (Section 10.554(1 )(1)7.c and Section 10.558(7)), we applied financial conditions assessment procedures, it is Management's responsibility to monitor the entity's financial condition; our financial condition, assessment was based in part on the representations made by management and the review of the financial "information provided by the same. Port of the Islands Community Improvement District has not met one or more of the conditions described in Section 218.503(1), Florida Statutes. As required by the Rules of the Auditor General (Section 10.554(1)(i)7.b.), we determined that the annual financial report for the District for the fiscal year ended September 30, 2012, fled with the Department of Financial Services pursuant to Section 218.32(1)(a), Florida Statutes, is in agreement with our annual financial audit report for the fiscal year ended September 30, 2012. Our management letter is intended solely for the information and use of the Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, and applicable management and Is not intended to be and should not be used by anyone other than these specified parties. Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants PL Fort Pierce, Florida June 10, 2013 .35- Water Treatment Plant Operations and Maintenance The Water Treatment Plant produced and distributed 1.937 MG for the month of May, which is an average of 0.062 MGD. Wastewater Plant Operations and Maintenance The WWTP treated approximately 1.713 MG for the month of May, which is an average of 0.055 MGD Reuse System Operations and Maintenance The reuse system delivered 7.700 MG for the month of May, which is an average of 0.248 MGD. Permit Compliance: Water Treatment Plant: All permit requirements met Wastewater Treatment Plant All permit requirements met * ** Plant Inspection performed in May. Collier County Pollution Control performed inspection. All plant equipment was found in compliance, and we passed inspection. In the community: • Working with a couple of contractors concerning sidewalks which are in need of repair. I hope to have quotations from them to offer at the Board Meeting. • Performed the Landscaping drive through with Robert Soto. He has informed me that he will be taking care of the'chinch bugs' in the affected areas. His company should have completed the cabbage palm and coconut palm tree trimming by 6/21/13. All the trees that have already been trimmed look great. o He is mowing the water /wastewater plant areas on Tuesday morning, which is working out better in general! IMMIM 13_"1t1rINZ-21 12600 Union Road Naples, Florida 34114 • Tel 239-642 -9219 - Fax 239 -642 -9469 - www.severntrentservim.com CMMS Work Order Report Summary Total # of WO's 209 Total # of WO's Completed 209 Total Hours 49.40 • One Corrective Work Order in May: MBR Blower #2 Locked in position (froze). We removed the blower and replaced it with one that was in inventory. MBR #2 is back up and running. There were no labor charges at all, as we were able to complete the project during normal business hours, and it was not an "after hours" emergency situation. o We will be sending the non - working blower in for repair shortly. Water Loss Reports ��' ►, 2 12600 Union Road Naples, Florida 34114 • Tel 239.642.9219 •'Fax 239 -642 -9469 • www.severntrentservices.com June 2013 Field Managers Report 9919 W!B§ 12600 Union Road Naples, Florida 34114 • Tel 3OA42 -9219 F 239.642 -9469 • www.sevemtrentservicecom Custer Construction Inc 970 9th St. SW Naples, FL 34117 Name / Address Sevem Trent Services Attn: Rober Edge Price Quote Date Quote # 6/10/2013 8189 Project Description Total Custer Construction Inc. is pleased to present this quote for the repair and replacement of selected 25,000.00 concrete sidewalks and curbs located in the Cays of Port of the Islands. The selected areas where inspected and reviewed by Custer Conduction Inc. and Robert Edge. The recommendation was to replace sidewalks and curbs broken or damaged with new (3500 PSI) concrete. This will reduce the problem of broken corners or shifting slabs. Cays Dr. - $1888.12 Windward Cay - $3267.00 Sunset Cay - $18844.88 Cays Curb - $1000.00 Price includes demolition, disposal, labor and materials for the above project. Price per linear foot = $36.31 sidewalks. Price per linear foot = $83.33 curbs Total $25,000.00 Acceptance signature Phone # Fax # E -mail 239 - 877 -8924 custersc@WI.com Severn Trent Services 4837 Swift Road, Suits 100 Sarasota, FL 34235 Unitad States Paz wvwr severntrentservices. com Port of the Islands CID Work Authorization No. 44651 In accordance with the "Additional Services" provision of the contract for Port of the Islands CID between Port of the Islands CID (the "Cheat) and Severn Trent Environmental Services, Inc. (the "Company,') the Company agrees to perform the following additional services for the client: Location of Work: Port of the Islands Schedule: Upon Approval Project: Sidewalk anus Ca Date: June 20, 2013 DESCRIPTION OF SERVICES: At Venus Cay, remove approximately 208 feet of broken concrete sidewalk. Dispose at an approved dump site.Form sidewalk and pour 3000 psi fiber cement. Brush finish and cut in joints to prevent cracks A. Materials by others, tax not included ($ ) Material Mark -up (10 %) $0 B. Labor $6,371.90 H. PROJECT COST: (Total labor, mark -up and materials $6,371.90) The Client agrees to pay the Company for the services provided under this agreement as follows- Item Description Unit Cost or Hourly Rate Total Cost Total Project Cost To Be Invoiced By STES $6,371.90 Agreed to: (please initial) Page 1 of 3 Severn Trent Services 4837 Swift Road, Suite 100 Sarasota, FL 34231 United States T: +1 941 s2 3W8 Tr- +I 8W 535 6832 F: +1 941 92472 w" . severntrPntservki es,corn Port of the Islands CID Work Authorization No. 44682 In accordance with the "Additional Services" provision of the contract for Port of the Islands CID between Port of the Islands CID (the "Client) and Severn Trent Environmental Services, Inc. (the "Company,") the Company agrees to perform the following additional services for the client: Location of Work: Port of the Islands Schedule: Upon Approval Project: Sidewalk Repairs (Sunset Cay) Date: June 20, 2013 I. DESCRIPTION OF SERVICES: At Sunset Cay, remove approximately 526 feet of broken concrete sidewalk. Dispose at an approved dump sitc.Form sidewalk and pour 3000 psi fiber cement. Brush finish and cut in joints to prevent cracks A. Materials by others, tax not included ($ Material Mark-up (10%) $0 B. Labor $13,312.79 H. PROJECT COST: (Total labor, mark-up and materials $13,312.79) The Client agrees to pay the Company for the services provided under this agreement as follows: Item Description Unit Cost or Total Cost Hourly Rate Total Project Cost To Be Invoiced By STES $13,312.79 Agreed t#. (please initial) Page 1 of 3 Partnership Proposal between the Port of the Islands Community Improvement District and the South Florida Water Management District to support the Water Conservation Hotel and Motel Program Background The Water Conservation Hotel and Motel Program (Water CHAMP) was developed to promote and recognize water conservation efforts of lodging facilities. The program consists of three elements: a linen reuse program; a towel reuse program; and high - efficiency (1.0 gallon per minute) faucet aerators. Using in -room signage, guests are educated on how to indicate when they would like their linens and towels washed with the assumption that they will elect to delay services to conserve water and energy, and the use of use of laundry detergent. One gallon per minute high - efficiency bathroom faucet aerators use less than half the water per minute than aerators that operate at the current federal standard (2.2 gallons per minute at 60 psi). Proposal The District and the Port of the Islands Community Improvement District (PICID) jointly propose to enter a partnership to support Water CHAMP within its service area. The District will work with PICID's Conservation Coordinator or utility director and provide materials to establish the program in the area. In turn, PICID will agree to purchase future program materials, as needed, and support the effort to track water savings by the properties. This agreement is non - binding and can be terminated at anytime by either party. The specific deliverables of this proposal are outlined below. Deliverables The District will: • Provide all program start-up materials (training DVDs, faucet aerators, audit handbooks, posters, linen and towel reuse cards, etc.) needed for both of PICIIYs hotels and motels, accounting for 62 rooms. (These materials are expected to last approximately two- years.) • Provide technical advice and assistance, as requested, to PICID's Conservation Coordinator during the establishment of the program. PICID will: • Meet With property owners and managers to explain the program and distribute program materials. • Provide utility billing records for all participating properties to track water use and savings. • Purchase and distribute program materials in the future once the initial two -year supply is exhausted. Timeline July — PICID will solicit the program to lodging facilities in PICID to garner August 2013 owner /manager participation July 2013 The District will deliver program start-up materials to PICID July — PICID will distribute program materials to the participating lodging facilities August 2013 November 2015 PICID will assemble water use records of participating properties January 2016 The District will perform analysis of water use and savings DANIEL H. COX, P.A. ATTORNEY AT LAW 206 West 6t' Street Post Office Drawer CC Carrabelle, Florida 32322 Telephone (850) 697 -5555 Facsimile (850) 697 -2171 Naples (230) 370 -0842 E -mail dhcox @gtcom.net VIA CERTIFIED MAIL May 28, 2013 Mr. Steven Clements Xylem, Inc. 10661 Newkirk Street Dallas, TX 75220 RE: Port of the Islands Community Improvement District Payment Application Number 3 Dear Mr. Clements: Ron Benson and I discussed your proposal for settlement of the liquidated damages issue with the Board of Supervisors' representative assigned to the construction project. His opinion is that the offered compromise would not be sufficient. The District is willing to reduce the liquidated damages from $95,200.00 to $70,000.00. This would result in net payment due to Xylem of $68,946.80. Upon receipt of the required Contractor's Certification and Consent of Surety the District is prepared to release that amount. Please let me know if you need additional information. Sincerely, D "aH, 6.1 Daniel H. Cox District Attorney Port of the Islands Community Improvement District Tea ue, Cal From: Norine & Joe <dillonpoi @embargmail.com> Sent: Thursday, June 20, 2013 1:33 PM To: Starnes, Janet Subject: Re: Picayune Strand Restoration Project - Manatee Mitigation Feature at Port of the Islands Ms. Starnes- Sorry for the delay in getting back to you. Our next Board Meeting of the CID is tomorrow when we will discuss your request (your note was forwarded to the Supervisors). Due to the number of snowbirds here at the Port, it might be better to schedule a community meeting in late fall, unless you have time constraints. Since we do not have a Port of the Islands Homeowners Association, it seems prudent to schedule your presentation after one of our regularly scheduled meetings. We will contact you after tomorrow. Norine Dillon On Jun 20, 2013, at 10:56 AM, Starnes, Janet wrote: Ms. Dillon — I thought I would check in with you concerning my request to arrange a time to come down and update the Port of the Islands Homeowners Association on the status of the Picayune Strand Restoration Project and the associated Manatee Mitigation Feature. l am hoping to schedule a meeting sometime in the next several weeks if at all possible. If that is not possible due to the normal meeting schedule for the Association I will do my best to accommodate your preference. Please let me know at your earliest convenience. Janet Janet Starnes Principal Project Manager South Florida Water Management District Lower West Coast Service Center 2301 McGregor Boulevard Fort Myers, FL 33901 239 - 338 -2929 Ext. 7735 561 - 281 -3330 Cell From: Starnes, Janet Sent: Monday, June 10, 2013 11:40 AM To: 'dillonpoi@embargmail.com' Cc: 'JCARParesortgroupinc.com'; 'hanks guardian rroope tymanagement.com'; Shaw, Lacy E SAJ; 'Thompson, Amy D SAY; 'audrey sanders' Subject: Picayune Strand Restoration Project - Manatee Mitigation Feature at Port of the Islands Ms. Dillon — I was provided your name Audrey Sanders, the President of the Orchid Cove Homeowners Association. Over the last 2 years the South Florida Water Management District (SFWMD) and US Army Corps of Engineers (USACE) have been formulating a plan to mitigate for potential risks to the West Indian manatee at the Port of the Islands Marina basin associated with the Picayune Strand Restoration Project due to the reduction of freshwater traveling down the Faka Union Canal from the Picayune Strand which could negatively impact the winter warm water refugium in the Port of the Islands Marina. Initially we were looking at locating the manatee mitigation feature north of US41 by moving the Faka Union Weir #1 further north in the Faka Union Canal so that it would be located just north of Orchid Cove. After meeting with the homeowners in Orchid Cove and completion of additional technical assessment the SFWMD and USACE determined that the initial plan to relocate the Faka Union Weir #1 is no longer being considered. As a result of the decision to not go forward with the initial concept of relocating Faka Union Weir #1 the SFWMD and USACE have gone back and reviewed the previous concepts as well as looking at additional concepts and have determined that the best alternative at this point in time is to look at possibly deepening one of the marina bays (in particular the bay in the south eastern corner of the marina) to 20 feet over a 2 acre area which would allow the manatee to congregate in the deeper pool which would contain warm ground water and would mitigate for the loss in freshwater inflow from the Faka Union Canal to the north. In addition we are looking at two additional sites, one located just south of the marina along Faka Union Canal and one to the northeast of Port of the Islands on the south side of US41 in an old pit. At this point in time we would like to come and present the options and discuss any concerns that the homeowners in the area may have. I would greatly appreciate some guidance on the best means to meet with the homeowners. I was thinking that attending a meeting of the Port of Islands Homeowners Association meetings may be effective or possibly we could hold a separate meeting utilizing your contact information for members. I I am looking forward to any guidance you may be able to provide. Janet Janet Starnes Principal Project Manager South Florida Water Management District Lower West Coast Service Center 2301 McGregor Boulevard Fort Myers, FL 33901 239 - 338 -2929 Ext. 7735 561 - 281 -3330 Cell We value your opinion. Please take a few minutes to share your comments on the service you received from the District by clicking on this link. 0