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FY14 Version 2 Tentative BudgetHERITAGE GREENS Community Development District Annual Operating Budget Fiscal Year 2014 Version 2 - Modified Tentative Budget (Updated 7/1/13 1PM) Prepared by: HERITAGE GREENS Community Development District Table of Contents Page # OPERATING BUDGET General Fund Summary of Revenues, Expenditures and Changes in Fund Balances .... ............................... 1 -2 BudgetNarrative .......................................................................... ............................... 3 -6 Exhibit A - Allocation of Fund Balances ............................................. ............................... 7 HERITAGE GREENS Community Development District General Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2014 Proposed Budget EXPENDITURES Administrative P/R -Board of Supervisors FICA Taxes ProfServ- Engineering ProfServ-Legal Services ProfServ-Mgmt Consulting Sery ProfServ- Property Appraiser Prof Serv-Special Assessment ProfServ-Web Site Development Auditing Services Communication - Telephone Postage and Freight Insurance - General Liability Printing and Binding Legal Advertising Misc -Bank Charges Misc - Assessmnt Collection Cost Misc- Contingency Office Supplies Annual District Filing Fee Total Administrative ADOPTED ACTUAL PROJECTED TOTAL ANNUAL - ACTUAL BUDGET THRU JULY- PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2012 FY 2013 JUN -2013 SEP -2013 FY 2013 FY 2014 307 1,228 2,000 34,850 35,895 26,921 8,974 REVENUES 36,973 2,747 3,269 3,269 - 3,269 Interest - Investments $ 461 $ 400 $ 371 $ 124 $ 495 $ 400 Special Assmnts- Tax Collector 217,904 217,904 217,904 (0) 217,904 217,904 Special Assmnts- Discounts (7,886) (8,716) (7,883) - (7,883) (8,716) Gate Bar Code /Remotes 800 - 680 - 680 1,200 TOTAL REVENUES 211,279 209,588 211,072 124 211,196 210,788 EXPENDITURES Administrative P/R -Board of Supervisors FICA Taxes ProfServ- Engineering ProfServ-Legal Services ProfServ-Mgmt Consulting Sery ProfServ- Property Appraiser Prof Serv-Special Assessment ProfServ-Web Site Development Auditing Services Communication - Telephone Postage and Freight Insurance - General Liability Printing and Binding Legal Advertising Misc -Bank Charges Misc - Assessmnt Collection Cost Misc- Contingency Office Supplies Annual District Filing Fee Total Administrative Public Safety 1,200 600 1,800 2,400 - - 92 46 138 184 1,695 750 714 238 952 1,200 1,348 3,500 921 307 1,228 2,000 34,850 35,895 26,921 8,974 35,895 36,973 2,747 3,269 3,269 - 3,269 3,269 5,463 5,463 5,463 455 5,463 5,463 119 650 619 30 649 650 3,200 3,200 3,200 - 3,200 3,200 5 50 1 5 6 50 637 500 604 201 805 850 6,023 7,000 7,615 - 7,615 8,757 841 1,500 625 208 833 1,500 2,522 1,200 1B2 2,225 2,407 2;500 551 500 432 144 576 575 2,602 4,358 4,200 158 4,358 4,358 42 - - - - - 61 300 18 6 24 75 175 175 175 - 175 175 62,881 68,310 56,251 13,143 69,394 74,178 Public Safety Contracts - Security Services 46,735 48,000 35,044 12,488 47,532 48,000 Contracts -HVAC - 350 - - - 350 Contracts - Sheriff 1,020 3,000 1,700 567 2,267 3,000 Communication - Telephone 1,178 1,500 922 307 1,229 1,500 Electricity Entrance 1,901 2,200 1,365 455 1,82D 2,200 Utility - Water & Sewer 622 900 468 152 640 900 Lease - Carts 1,500 1,500 1,500 - 1,500 1,500 R &M -Gate 1,173 4,352 328 109 437 2,000 R &M- Gatehouse 999 1,500 203 68 271 1,500 Annual Operating Budget Fiscal Year 2014 Page 1 HERITAGE GREENS Community Development District General Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2014 Proposed Budget ACCOUNT DESCRIPTION Misc- Contingency Op Supplies - Transmitters Op Supplies - Gatehouse Cap Outlay - Equipment Total Public Safety Landscape Contracts - Landscape Contracts- Preserve Management Electricity - Irrigation R &M- Renewal and Replacement R &M- Canals R &M- Fountain R &M- Grounds R &M- Irrigation R &M- Preserves Misc- Special Projects Total Landscape ADOPTED ACTUAL BUDGET FY 2012 FY 2013 ACTUAL PROJECTED TOTAL ANNUAL THRU JULY- PROJECTED BUDGET JUN -2013 SEP -2013 FY 2013 FY 2014 631 - 631 - - - 589 196 785 800 167 250 472 157 629 800 788 6,726 - - - 6,200 56,083 70,278 43,242 14,500 57,742 68,750 15,060 18,000 12,250 3,765 16,015 18,000 1,760 2,000 1,760 - 1 1,760 2,000 2,023 2,000 1,457 486 1,943 2,200 - 1,500 - - - 1,DD0 2,590 2,600 1,295 - 1,295 2,6DD 2,427 900 2,322 375 2,697 2,7DD 3,960 8,500 45 15 60 4,000 972 2,500 220 73 293 1,500 - 500 - - - 100 6,465 4,000 5,544 5,294 10,838 7,000 35,257 42,500 24,893 10,008 34,901 41,100 Road and Street Facilities 43,246 68,022 (39,997) 28,025 - FUND BALANCE, BEGINNING 88,812 132,D58 132,058 - 132,058 160,083 FUND BALANCE, ENDING Electricity - Streetlighting 8,581 11,000 7,050 2,350 9,400 11,000 R &M- Drainage - 2,500 11,254 - 11,254 2,500 R &M -Roads & Alleyways 2,975 2,000 360 120 480 2,000 R &M- Sidewalks 1,500 1,750 - - - 3,000 Traffic Signage Rehabilitation 756 1,250 1,260 Reserve - Roadways - 10,000 - - - 7,000 Total Road and Street Facilities 13,812 28,500 18,664 2,470 21,134 26,760 TOTAL EXPENDITURES 168,033 209,588 143,050 40,120 183,170 210,788 Excess (deficiency) of revenues Over (under) expenditures 43,246 - 68,022 (39,997) 28,025 - Net change in fund balance 43,246 68,022 (39,997) 28,025 - FUND BALANCE, BEGINNING 88,812 132,D58 132,058 - 132,058 160,083 FUND BALANCE, ENDING $ 132,058 $ 132,058 $ 200,080 $ 39,997 $ 160,083 $ 160,083 FY 2013 FY2014 Gross Assessments 217,904 217,904 Assessable Units 527 527 Gross Assessments Per Unit $ 413.48 $ 413.48 Annual Operating Budget Fiscal Year 2014 Page 2 Heritage Greens Community Development District General Fund Budget Narrative Fiscal Year 2014 REVENUES Interest Income (Investments) The District will have all excess funds invested with the CDs or Money Market Accts. The amount Is based upon the estimated average balance of funds available during the Fiscal Year. Special Assessment - On Roll 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 for the Fiscal Year. Special Assessment — Discount 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. Gate Bar Code/Remotes The District sells Gate Remote Clickers to residents of the District. EXPENDITURES Expenditures - Administrative PIR — Board of Supervisors 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 upon all Supervisors attending the meetings. Ennineerina Fees The District's engineer will be providing general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review invoices, etc. Legal Services The District's legal counsel will be providing general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating and maintenance contracts, etc. Fees are based on prior year legal expenses. Management Consultina Services The District receives Management, Accounting and Administrative services as part of a Management Agreement with Severn Trent Management Services, Inc. The amount budgeted is the same as last year. 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, postage, and programming. The FY2014 budget for property appraiser costs was based on 1.5% of gross assessments. Special Assessment The District's Collection Agent will be providing financials services which include the collection of prepaid assessments, maintenance of District's assessment roll and levying the annual operating and maintenance assessments. Annual Operating Budget Fiscal Year 2014 Page 3 Heritage Greens Community Development District General Fund Budget Narrative Fiscal Year 2014 Expenditures — Administrative (Continued) Web Site Development The District incurs fees as they relate to the development and ongoing maintenance of its own website. Auditina Services The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm. The amount budgeted is the same as last year. Comm unication- Telephon e Telephone and fax machine expenses for administrative functions. Postage & Delivery Mailing of agenda packages, overnight deliveries, correspondence, etc. Insurance — General Liability The District will incur expenditures for public officials' liability insurance for the Board & Staff. FY14 has a proposed increase of 15 %. Printing & Binding Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes, etc. Leaal Advertising The District is required to advertise various notices for monthly Board meetings, public hearings, etc in a newspaper of general circulation. The amount budgeted for FY14 reflects last year's expenditures. Misc — Bank Charges Bank - charges that incurred during the year. Misc - Assessment Collection Fee This represents 2.0% Collier County Tax Collector Fees for services rendered in assessing and collecting 2014 Assessment Roll. Office Supplies Miscellaneous office supplies related to the preparation of agenda packets. Annual District Filina Fee The District is required to pay an annual fee to the Department of Community Affairs for $175. Expenditures - Public Safety Contracts — Security Services The District has contracted with Kent Security to have a security officer on duty at the front gate for a set period of time to check guest coming into the community and tour the property to check for any problems that may need to be addressed. The amount budgeted is the same as last year. Contracts — HVAC To service the air conditioning unit at the guardhouse. Annual Operating Budget Fiscal Year 2014 Page 4 Heritage Greens Community Development District Budget Narrative Fiscal Year 2014 General Fund Expenditures — Public Safety (Continued) Contracts — Sheriff This includes the agreement between the District and the Collier County Sheriffs department to patrol and enforce traffic laws over the roads the District is responsible for. The amount budgeted is the same as last year. Communication — Telephone This includes any telephone or fax usage for the guardhouse to allow the security officer to be able to communicate with management and residents. This also allows the gate system to be operable when there is no security officer present. Electricity — Entrance Electricity usage for the guardhouse. Costs are based on historical expenses incurred with Florida power & Light (FPL). Utilities — Water & Sewer Any cost associated with the water and sewer used at the guardhouse. Lease — Cants The District leases a golf cart for $750 every six months. The guard- on-duty uses it to do community patrol and to lock and unlock the community center. R&M — Gates This represents any repairs or maintenance that may need to be done to the gates. Op Supplies — Transmitters Cost associated with supplying transmitters to residents for operation of the gate. R&M — Gatehouse Cost associated with any normal repairs and maintenance of the guardhouse along with the cost incurred with Collier County Utilities to run the tele-entry system. OR Supplies- Gatehouse Costs associated with any supplies purchased for use within the guardhouse. Capital Outlay— Equipment Any capital items needed to improve security within the District. Expenditures - Landscape Contracts — Landscape The District is responsible for cutting all CDD property which are common areas which includes the entry way and guardhouse. Contracts — Preserve Maintenance The District has contracted with Uplands, LLC for the maintenance of the preserves. Currently treatments are on a semi - annual basis. Electricity — Irrigation Any electricity cost incurred to run the irrigation system as well as the fountain that is owned by the District. Armed Operating Budget Fiscal Year 2014 Page 5 Heritage Greens Community Development District Budget Narrative Fiscal Year 2014 General Fund Expenditures — Landscape (Continued) R &M — Renewal and Replecement This line item includes costs associated with renewing or replacing plant material on CDD property. Additionally, various repair and maintenance costs incurred as needed. R &M — Canals The District is responsible for maintaining the canal banks of high weeds and must cut them several times per year or be subject to property maintenance code violations. R &M — Fountains This is to include any repairs or maintenance that need to be addressed to make sure that the fountains the District is responsible are in proper working order. The amount budgeted for FYI reflects last year's expenditures. R &M —Grounds Funding if needed for the District to apply mulch and pesticides to all CDD property identified as common areas. R&M — Irrigation Cost associated with the inigation system through out the District. R&M — Preserves The District is responsible for having the preserves treated for invasive plants on an annual basis. Misc — Special Projects This is a contingency in case the District is to incur costs relating to any special projects that are felt to be needed and identified by the Board of Supervisors. Expenditures - Road and Street Facilities Electricity — Streediahtina Street Lighting usage for District facilities and assets. Costs are based on historical expenses occurred incurred with Florida power & Light (FPL). R &M — Drainaae The District is responsible for making any repairs to the storm drainage infrastructure. R &M — Roads & Alleyways This represents miscellaneous repairs of the roads and alleyways of the District R &M — Sidewalks Includes all costs associated with sidewalks within the District. R&M — Slane-te Any costs that are associated with any roadway signage the District may incur. Reserves — Roads Designated Funds set aside for future road improvements. Annual Operating Budget Fiscal Year 2014 Page 6 HERITAGE GREENS Community Development District General Fund Exhibit "A" Allocation of Fund Balances AVAILABLE FUNDS Amount Beginning Fund Balance - Fiscal Year 2014 $ 160,083 Net Change in Fund Balance - Fiscal Year 2014 - Reserves - Fiscal Year 2014 Additions 7,000 Total Funds Available (Estimated) - 9/30/2014 167,083 ALLOCATION OF AVAILABLE FUNDS Assigned Fund Balance Operating Reserve - First Quarter Operating Capital (1) 50,947 Reserves - Irrigation System 7,500 Reserves - Drainage 6,000 Reserves - Wall Painting 6,000 Reserves - Wall Replacement 12,786 Reserves - Fountain 5,500 Reserves - Signs 1,000 Reserves - Roads & Sidewalks 16,201 Reserves - Roads & Sidewalks -FY13 10,000 Reserves - Roads & Sidewalks-FY14 7,000 33,201 Subtotal 122,934 Total Allocation of Available Funds 122,934 Total Unassigned (undesignated) Cash $ 44,149 Notes V) Represents approximately 3 months of operating expenditures Annual Operating Budget Fiscal Year 2014 Page 7