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FY12/13 Budget1611 ARIECEIVED AVE MARIA STEWARDSHIP COMMUNITY DISTRICT c/o Special District Services, Inc. 2501 Bums Road, Suite A Palm Beach Gardens, Florida 33410 (561) 630 -4922 Fax: (561) 630-4923 May 10, 2012 VIA CERTIFIED MAIL — RETURN RECEIPT REQUESTED Clerk of Circuit Court Dwight E. Brock Collier County Courthouse 3301 E. Tamiami Trail, Building "L ", 6`" Floor Naples, FL 34112 Re: Ave Maria Stewardship Community District To Whom It May Concern: MAY 18 2012 © _ County Comm o —+ rr. Q i ,rn •- � o v+ CO Fiala P_? Hiller ✓ Henning?' Coyle ✓ -- - -- -- - Coletta �L Pursuant to Florida law, enclosed please find a copy of the following document relative to the above referenced Stewardship Community District: 1.) Proposed Budget Fiscal Year 2012/2013 (Oct. 1, 2012 — Sept. 30, 2013) Should you have any questions or comments, please do not hesitate to contact our office. Sincerely, SPECIAL DIST CT SERVICES, INC. Laura J. Arc e Enclosure Misc. Corres: Date: 2y t 2 Item t ► �'+ 3 Copies to: 161 I A3 Ave Maria Stewardship Community District Final Budget For Fiscal Year 2012/2013 October 1, 2012 - September 30, 2013 - 16 11" A 3 CONTENTS I FINAL OPERATING FUND BUDGET II FINAL DEBT SERVICE FUND BUDGET III ASSESSMENT BREAKDOWN IV DETAILED FINAL OPERATING FUND BUDGET V DETAILED FINAL DEBT SERVICE FUND BUDGET VI FINAL MAINTENANCE BUDGET AMS Budget Contents 2012 -2013 4/26/2012 3:57 PM 1 A3 PROPOSED BUDGET AVE MARIA STEWARDSHIP COMMUNITY DISTRICT OPERATING FUND FISCAL YEAR 2012/2013 October 1, 2012 - September 30, 2013 REVENUES FISCAL YEAR 2012/2013 ANNUAL BUDGET O & M ASSESSMENTS 371,101 DEBT ASSESSMENTS 760,863 DEVELOPER CONTRIBUTION FOR O & M 1,289,687 DEVELOPER CONTRIBUTION FOR DEBT 3,167,217 OTHER REVENUES 0 TOTAL REVENUES $ 5 588 868 EXPENDITURES ADMINISTRATIVE EXPENDITURES SUPERVISORS FEES 8,000 ENGINEERING 20,000 MANAGEMENT 70,216 SECRETARIAL 4,500 LEGAL 20,000 ASSESSMENT ROLL 15,000 AUDIT FEES 8,600 ARBITRAGE REBATE FEE 2,500 TRAVEL & LODGING 2,000 INSURANCE 7,500 LEGAL ADVERTISING 3,000 MISCELLANEOUS 2,000 POSTAGE 1,750 OFFICE SUPPLIES 2,000 DUES, LICENSE & SUBSCRIPTIONS 500 MISCELLANEOUS FILINGS, NOTICES, ETC. 2,000 WEBSITE HOSTING FEES 1,000 TRUSTEE FEES 12,000 CONTINUING DISCLOSURE FEE 5,000 TOTAL ADMINISTRATIVE EXPENDITURES $ 187,566 MAINTENANCE EXPENDITURES MAINTENANCE 1,445,389 MAINTENANCE/INSPECTIONS /ADMIN 0 TOTAL MAINTENANCE EXPENDITURES $ 1,446,389 TOTAL EXPENDITURES $ 1.632.955 EXCESS OR SHORTFALL $ 3,965,913 PAYMENT TO TRUSTEE $ 3 871,016 BALANCE $ 84,897 COUNTY APPRAISER & TAX COLLECTOR ADMINISTRATIVE COSTS 39,619 DISCOUNTS FOR EARLY PAYMENTS 45,279 NET EXCESS /SHORTFALL is ' Aw Mede S1evMxdehip AMS Budgets AMS Budgets 2012 -2013 AMS Piopoeed Budget 2012 -2013 i 428@012 3:57 PM AMS Opw W V Fund Budge12012.2013 161E p3 PROPOSED BUDGET AVE MARIA STEWARDSHIP DEVELOPMENT DISTRICT DEBT SERVICE FUND FISCAL YEAR 201212013 October 1, 2012 - September 30, 2013 REVENUES FISCAL YEAR 2012/2013 ANNUAL BUDGET NAV Collection 703,798 Developer Contribution 3,167,217 Total Revenues $ 3,871,016 EXPENDITURES Principal Payments '06 Bond 465,000 Interest Payments '06 Bond 1,246,016 Principal Payments ('12 Bond) * 475,000 Interest Payments ('12 Bond) * 1,685,000 Total Expenditures $ 3,871,016 Excess /Shortfall $ *These payments are an estimate. The parameters to estimate this cost were $26,220,000 principal, 6.5% rate, 24 year term. A. M.6- AMS Budpb AMS BuApeb 2012 -201 AMS prapowd Bu40M 2012 -2 01 2 , 4rA=12 3:57 PM AMS DAM Sm i06 BudW2012.2012 Ave Maria Stewardship District Assessment Breakdown 2012 -2013 Op, -& a Maintenance Assenment Total Operation a Matntwmwm Assessment 7 S 30,523,14 298.37 S 26140.78 S 299.37 s 145,493.82 12,872.91 ■tea® 3 30,M5.11 .37 S 15 507.24 nor. t�• 74.85 S 24,336.90 .L•. Jl.11 �� 2 0.291 9 X6110.80 24 s 12,305.95 3N.13 6 - 7 15.62 S 13007.50 4.17 & 0 $371,100.83 Ave Maria Stewardship District Assessment Breakdown 2012 -2013 Op, -& a Maintenance Assenment Total Operation a Matntwmwm Assessment 7 S 30,523,14 298.37 S 26140.78 S 299.37 s 145,493.82 12,872.91 299.37 3 30,M5.11 .37 S 15 507.24 nor. 74.85 S 24,336.90 17.77 2 0.291 9 X6110.80 24 s 12,305.95 3N.13 6 - 7 15.62 S 13007.50 4.17 & 0 $371,100.83 A nounls per unit shown are grossed up for 3.5% Canty Fees and 4% for early payment discount. 161 �IeA3 "Note: 67 units W cured in Detached Villas 48/52' are classified just as "Single Family' in Liberty Park. The actual unit types will be determined at a future date, but they will be single family so they MR have the same assessment as the other single family properties• tins fns a"ssw esss+asu -ma anti r■s.r ewe■sma•ama ■ —012 aft P■ tins �r e.rs.. mnasu fF M nor. "Note: 67 units W cured in Detached Villas 48/52' are classified just as "Single Family' in Liberty Park. The actual unit types will be determined at a future date, but they will be single family so they MR have the same assessment as the other single family properties• tins fns a"ssw esss+asu -ma anti r■s.r ewe■sma•ama ■ —012 aft P■ tins �r e.rs.. mnasu 161 ]I A3 PROPOSED BUDGET AVE MARIA STEWARDSHIP COMMUNITY DISTRICT OPERATING FUND FISCAL YEAR 2 01 212 01 3 October 1, 2012 • September 30, 2013 REVENUES FISCAL YEAR 2010/2011 ACTUAL FISCAL YEAR 201112012 ANNUAL BUDGET FISCAL YEAR 2012/2013 ANNUAL BUDGET COMMENTS 0 6 M ASSESSMENTS 365,742 365,568 371,101 See Dotal on Page 3 DEBT ASSESSMENTS 761 030 760.863 760.863 See Detail on Pa e 3 DEVELOPER CONTRIBUTION FOR O& M 970,674 1,294,786 1 288 687 DEVELOPER CONTRIBUTION FOR DEBT 2,239,628 2 263 968 3,167,217 OTHER REVENUES 5775 0 0 TOTAL REVENUES 6 4.342.649 4.685.205 5.588.868 EXPENDITURES ADMINISTRATIVE EXPENDITURES SUPERVISORS FEES 2.200 8,000 8.000 No Chan a From 2011 -2012 Bud et ENGINEERING 6,728 20 000 20,000 No Chan a From 2011 -2012 Bud et MANAGEMENT 55 000 70,216 70,216 No Chan a From 2011 -2012 Bud et SECRETARIAL 2 000 4,500 4,500 No Chan a From 2011 -2012 Budget LEGAL 15,930 20,000 20 000 No Chan a From 2011 -2012 Budget ASSESSMENT ROLL 15.000 15.000 15 000 No Chan a From 2011 -2012 Bud et AUDIT FEES 7,500 8,600 8,600 No Chwve From 2011 -2012 Budget ARBITRAGE REBATE FEE 1.575 2,500 2,500 No Change From 2011 -2012 Bud et TRAVEL & LODGING 358 2,000 2,000 No Chan a From 2011 -2012 Butl et INSURANCE 8 2e 7,500 7,600 No Chanue From 2011 -2012 Budget LEGAL ADVERTISING 801 3.000 3,000 No Chan a From 2011 -2012 Budget MISCELLANEOUS 2.133 2,000 2,000 No Chanue From 011 -2012 Bu et POSTAGE 1,316 1,750 1,750 No ChaMe From 2011 -2012 Budget OFFICE SUPPLIES 2,341 2,000 2,000 No Chan a From 2011 -2012 Bud et LICENSE a SUBSCRIPTIONS 175 500 500 No Chanae From 2011 -2012 Budget MISCELLANEOUS FIUNGS NOTICES ETC. 0 2,000 2.001) No Change From 2011 -2012 Budget WEBS ITE HOSTING FEES 0 1.000 1 000 No Chan a From 2011 -2012 Bu et TRUSTEE FEES 11,314 12,000 12,000 No Chan a From 2011 -2012 Butl et CONTINUING DISCLOSURE FEE 5,0w 5 000 5,000 No Chen a From 2011 -2012 Bud et TOTAL ADMNISTRATNE EXPENDITURES S 138,006 6 187,566 S 187,566 MAINTENANCE EXPENDITURE MAINTENANCE 1138,487 1 445 389 1,445,389 Total Maintenance - See Detail On Page 6 NTE N E/WSPECTIONSIADMIN 0 0 0 TOTAL MAINTFNANCE EXPENDITIJIMS 1,138,487 1,445,389 1 388 TOTAL EXPENDITURES 1 76 483 1 632 856 S 1,832,056 EXCESS OR ISHORTFALLI S 3,0116.3" 3,052,250 3,955,913 PAYMENT TO TRUSTEE (2,969,804) $ (2 987 788 ) $ (3,871,016) 2013 Principal & Interest Payments BALANCE s 96,652 S 84,484 S 84,897 w APPRAMN&ru COUteroe �nunwe 8�COUACn DISCOUNTS FOR EARLY PAYMENTS 29865 39428 39619 ) MW.1.5% T. (23,610) (45,058) (45,279) Four Percent Of Total Tax RON NET EXCESSISHORTFALL 43,077 0.00 Aw MaM S * wrOft MIS &.00 MIS &WPM 20123013 AMS propwd BudgM 2012.2013 N 4==12 317 PM MIS Opww" Fuw1 MW 20123013 161 �1 A3 PROPOSED BUDGET AVE MARIA STEWARDSHIP DEVELOPMENT DISTRICT DEBT SERVICE FUND FISCAL YEAR 2012/2013 October 1, 2012 • September 30, 2013 REVENUES FISCAL YEAR 201112012 ANNUAL BUDGET FISCAL YEAR 2012/2013 ANNUAL BUDGET COMMENTS Interest Income Bond 0 0 DS Reserve Interest is now coina to the Deferred Cost Account Interest Income (BAB) 0 0 DS Reserve Interest is now noky to the Deferred Cost Account NAV Collection 703.M 703.798 Per Assersmars (Ins *Wm 3 Nss 7.5% for Diswuss and Fees Contnbution 2,263,968 3167 217 Total Revenues 2,967,766 3,871,016 EXPENDITURES Pnnci I P Band 440,000 465.000 2008 Bond Principal Payment Due In 2013 Interest Pa '06 Bond 1,269,206 1 248 016 2006 Bond Interest Payments Due In 2013 Principal Payments C12 Bond) 0 475,000 2012 Born Principal Payment Due In 2013 Interest Payments ('12 Bond) 1,258,560 1,685,000 # 2012 Bond Interest Payments Due In 2013 Total Ex ndituroe 2 907 788 3,871,010 ExcesslShorMall 'These payments are an estimate. The parameters to estimate this oust were $26,220,000 principal, 6.5% rate, 24 year term. we �+�+� AM w.. AM 2e12•ro+3 nrs rwi.www s,r3ou y' rtvs,r ra�rw ,Wa or w,wwp rmrm,r 161 I A3 PROPOSED BUDGET AVE MARIA STEWARDSHIP COMMUNITY DISTRICT MAINTENANCE FISCAL YEAR 2012/2013 Octoba 1, 2012 - Sept*mbsr 30, 2013 A. M p AMS BuapM. MIS Su0p.1. 2012 -2013 M6 Prepow gudgm 2012.2013 V1 40612M 3'.57 PM Mfg Mwtw� W*9 FISCAL YEAR 2009/2010 ACTUAL FISCAL YEAR 201112012 ANNUAL BUDGET FISCAL YEAR 2012/2013 ANNUAL BUDGET MAINTENANCE EXPENDITURES ELECTRIC STREETLIGHTS LANDSCAPE 80,198 95,000 95,000 STREET SWEEPING 197 5,000 5,000 STRIPING & TRAFFIC MARKINGS 284 2,000 2,000 STREET LIGHT MAINTENANCE 26,166 30,000 30,000 SIDEWALK I CURB REPAIRS 6,508 3 000 3.000 LANDSCAPE MAINTENANCE ROADWAY ENTRIES): MAINTENANCE CONTRACTS 452,495 530,000 530.0D0 TREE TRIMMING 17,028 15,000 15,000 STORM CLEANUP 42,295 70,000 70,000 PLANT REPLACEMENT 16,013 40,000 40,000 MULCH 8 MISCELLANEOUS 89,739 73.000 73 000 MISC. UTILITIES 0 5,000 5,000 ELECTRICITY 0 0 0 IRRIGATION WATER 82,338 100,000 100,000 IRRIGATION REPAIR 4,968 12,000 12,000 ENTRY FEATURE WATER 0 0 0 FOUNTAIN MAINTENANCE 1,155 15.000 15,000 RODENT / PEST CONTROL 5,377 6,000 6,000 EQUIPMENT REPAIR 277 1,000 1,000 SIGNAGE REPAIR 7,739 5,000 5,000 WATER MANAGEMENT & DRAINAGE 3,500 3,000 3,000 STORM DRAIN CLEANING 0 10.000 10,000 DRAINAGE I LAKE MAINTENANCE/ LITTORALS 48,201 50,000 50,000 AERATORS 6,980 8,500 6,500 AQUATIC REPLACEMENTS 0 5,000 5,000 PRESERVE MAINTENANCE 0 40,000 40,000 TAXES & LICENSES 0 0 0 INSURANCE 0 0 0 SMALL TOOLS 725 1,000 1,000 MISCELLANEOUS MAINT. 0 0 0 MISC. REPAIRS 266 5,000 5,000 VEHICLE LEASE I FUEL I REPAIRS MAINT TECH 5,740 5,000 5,000 MOSQUITO CONTROL 83 439 80.000 80,000 FISH STOCKING 0 5,000 5,000 TEMP FIRE FACILITY OPERATING COSTS 52,876 38,000 36,000 ADMINISTRATIVE SUPPLIES 545 500 500 OFFICE LEASE 0 0 0 OFFICE UTILITIES 0 0 0 MAINTENANCE TECHNICIANS 47,022 60.000 60,000 BASE MANAGEMENT FEE 14,940 16,667 16,867 ADMIN PAYROLL 19.756 79122 TOTAL MAINTENANCE EXPENDITURES $ 1,116,867 $ 1,410,389 $ 1,410,389 RESERVE FUND 20,620 20,000 20,000 CONTINGENCY FUND 1,000 15,000 15,000 TOTAL $ 1,138,487 $ 1 445 389 $ 1 445,389 A. M p AMS BuapM. MIS Su0p.1. 2012 -2013 M6 Prepow gudgm 2012.2013 V1 40612M 3'.57 PM Mfg Mwtw� W*9 161 "1 A3 PROPOSED BUDGET AVE MARIA STEWARDSINP DEVELOPMENT DISTRICT AVE MARIA UTILITY FISCAL YEAR 20128013 Oct*er 1, 2012 - Sept~ 30, 2013 REVENUES A FISCAL YEAR F FISCAL YEAR F FISCAL YEAR COMMENTS AMUC Income 2 263,697 2 240,000 2 260,000 A ADproximately 2/3 of Expenditures Developer Contribution 1 120,000 1 140 000 1 120,000 A ApproAmately 1/3 of Expenditures Total Revenues 3 383,697 3 380,000 3 380,000 EXPENDITURES CM Operatina Fee 2 218,736 2 240,000 2 240 000 E Estimate of $20,000 per Month AMUC Bulk Water Cha a 1 138,130 1 140.000 1 140,000 E Estimate of $11,667 per Month Tonal Expenditures 3 356,867 3 380,000 3 380,000 _ _ Excess/Shortfall 2 26,831 - - Ulm Neprawyx lMi -p,a ��iNta,i ��saw wa rr.w