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FY14 Final BudgetPORT OF THE ISLANDS Community Improvement District Annual Operating and Debt Service Budget Fiscal Year 2014 Version 5 - Final Budget: (Adopted at 8/23/2013 meeting) Prepared by: 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 BudgetNarrative ........................................................................... ............_.........._....... 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 .......................................................................... ............................... 9-12 AmortizationSchedule ................................................................... ............................... 13 SUPPORTING BUDGET SCHEDULES 2013 -2014 Non -Ad Valorem Assessment Summary ...... , _.. .......... .... .......,..... 14 CIPSchedule ......................................................................... ............................... 15 Port of the Islands Community Improvement District Operating Budget Fiscal Year 2014 El Ll PORT OF THE ISLANDS Community Improvement District General Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2014 Adopted Budget ADOPTED ACTUAL PROJECTED TOTAL ADOPTED ACTUAL ACTUAL BUDGET THRU AUG PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2011 FY 2012 FY 2013 JUL -2013 SEP -2013 FY 2013 FY 2014 REVENUES Interest - Investments $ 6,315 $ 5,018 $ 2,177 $ 1,776 $ 355 $ 2,131 $ 2,080 Net Incr (Door) In FMV- Invest 2,159 3,456 - 1,839 - 1,839 5,800 Interest - Tax Collector 166 34 - 32 32 536 Special Assmnts- Tax Collector 402,233 402,231 435,400 402,231 435,400 435,400 Special Assmnts- Discounts (11,126) (11,204) (17,416) (8,552) (8,552) (17,416) Other Miscellaneous Revenues 3,676 - 4,544 1,575 - 1,575 ProfServ-Mgmt Consulting Sery TOTAL REVENUES 403,421 399,536 420,11611 398,901 355 432,425 420 074 EXPENDITURES Administrative 101,289 98,536 100,000 83,462 16,667 100,129 100,000 P/R -Board of Supervisors 5,700 6,200 7,000 5,800 1,000 6,800 7,000 FICA Taxes 436 474 536 444 77 521 536 ProfServ- Engineedng 21,523 22,923 26,000 13,432 2,686 16,118 26,000 ProfServ-Legal Services 30,200 38,472 12,500 22,722 4,544 27,266 12,500 ProfServ-Mgmt Consulting Sery 26,867 27,539 28,365 23,638 4,727 28,365 29,216 ProfServ- Property Appraiser - 6,531 6,531 6,531 4,000 6,531 6,531 ProlServ- Special Assessment 8,755 8,974 9,243 9,243 1,000 9,243 9,520 Auditing Services 3,750 3,500 3,750 3,500 - 3,500 3,750 Communication - Telephone 22 36 100 14 3 17 100 Postage and Freight 1,129 1,071 1,500 883 177 1,060 1,200 Rental - Meeting Room 325 325 350 250 50 300 350 Insurance - General Liability 7,830 7,690 8,844 8,103 - 8,103 9.028 Printing and Binding 1,578 1,239 2,000 748 299 1,047 1,300 Legal Advertising 475 831 2,200 135 865 1,000 1,000 Miscellaneous Services 482 890 1,375 466 230 696 1,380 Misc- Assessmnt Collection Cost (3,801) 4,816 8,708 7,874 834 8,708 8,708 Misc -Web Hosting 119 1,000 969 - 969 1,000 Office Supplies 448 261 650 138 28 166 500 Annual District Filing Fee 175 175 175 175 175 175 Total Administrative 105,894 132,066 120,627 105,065 15,520 120,585 X119 79_4 Field Contracts-Mgmt Services 101,289 98,536 100,000 83,462 16,667 100,129 100,000 Contracts - Landscape 97,639 83,115 79,440 71,372 13,805 85,177 82,830 Electricity - Streetlighling 13,439 16,615 16,500 15,255 3,051 18,306 19,000 Utility - Irrigation 6,559 12,670 12,600 11,481 2,296 13,777 12,600 R &M- Renewal and Replacement 17,126 12,325 10,000 9,201 799 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 236,052 223,261 294,434 190,771 41,618 232,389 300,280 TOTAL EXPENDITURES 341,945 355,327 415,2111 295,836 57,137 352,973 420074 Excess (deficiency) of revenues Over (under) expenditures 61,475 44,208 4,900 103,065 (56,782 79,452 - Annual Operating and Debt Service Budget Fiscal Year 2014 1 4 PORT OF THE ISLANDS Community Improvement District General Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2014 Adopted Budget ADOPTED ACTUAL PROJECTED TOTAL ADOPTED ACTUAL ACTUAL BUDGET THRU AUG PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2011 FY 2012 FY 2013 JUL -2013 SEP -2013 FY 2013 FY 2014 OTHER FINANCING SOURCES (USES) Contribution to (Use of) Fund Balance 4,900 TOTAL OTHER SOURCES USES Net change in fund balance FUND BALANCE, BEGINNING FUND BALANCE, ENDING 61,475 44,208 4,900 103,065 (56,782j_ 79,452 1,100,673 1,162,148 1,206,356 1,206,356 1,206,356 1,285,806 1111622148 ¢1,206 :356 s1,211,256 $ 1,309,421 s (56,7821, ;1,285,808 $1�2 Annual Operating and Debt Service Budget 2 Fiscal Year 2014 PORT OF THE ISLANDS Community Improvement District General 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. 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. Annual Operating and Debt Service Budget Fiscal Year 2014 3 PORT OF THE ISLANDS Community Improvement District General Fund Budget Narrative Fiscal Year 2014 EXPENDITURES Administrative (continued) 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 2% of the anticipated assessment collections. 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 Operating and Debt Service Budget 4 Fiscal Year 2014 PORT OF THE ISLANDS Community Improvement District General Fund Budget Narrative Fiscal Year 2014 EXPENDITURES Administrative (continued) Annual District Filing Fee The District is required to pay an annual fee of $175 to the Department of Economic Opportunity Division of Community Development. 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 Debt Service Budget Fiscal Year 2014 4 , PORT OF THE ISLANDS General Fund Community improvement District Exhibit "X' Allocation of Fund Balances AVAILABLE FUND Beginning Fund Balance - Fiscal Year 2014 Net Change in Fund Balance - Fiscal Year 2014 Reserves - Fiscal Year 2014 Additions Total Funds Available (Estimated) 9/30/2014 ALLOCATION OF AVAILABLE Fl1NDS Assigned Fund Balance Operating Reserve - First Quarter Operating Capital Total Allocation of Available Funds Total Unassigned (undesignated) Cash Notes (1) Represents approximately 3 months of operating expenditures Amount $ 1,285,808 105,018 ('1 Subtotal 105,018 105,018 $ 1,180,790 Annual Operating and Debt Service Budget 6 Fiscal Year 2014 PORT OF THE ISLANDS Community Improvement District Wafer And Sewer Fund Summary of Revenues, Expenses and Changes In Net Assets Fiscal Year 2014 Adopted Budget ADOPTED ACTUAL PROJECTED TOTAL ADOPTED ACTUAL ACTUAL BUDGET THRU AUG PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2011 - FY 2012 FY 2013 JUL -2013 SEP -2013 FY 2013 FY 2014 OPERATING REVENUES 299,592 7,000 $ 54 $ 322 $ 578 interest - Investments $ 6,244 $ 2,686 $ 2,838 $ 268 36,346 7,269 43,815 45,000 Water Revenue 41,379 41,089 43,000 65,000 57,207 11,441 68,648 70,000 Sewer Revenue 58,819 62,574 82,528 100,000 81,212 16,242 97,454 100,000 Irrigation Fees 93,629 38,472 12,500 23,735 4,747 28,482 29,336 Meter Fees 26,978 2,500 28,482 3,424 3,751 3,424 17,025 Net Incr (Deer) In FMV- Invest 4,021 6, 435 1,135,025 1,048,558 - 1,1 025 1,135,294) SpecialAssmnts - Tax Collector 1,048,566 1,048,559 7,885 7,885 ( 2235,027 (45,025 Special Assmnts- Discounts (29,009) (29,206) (45,401) (22,294) 6,295 3,750 Other Miscellaneous Revenues 19,379 5,045 3,750 6,295 17 100 TOTAL OPERATING REVENUES 1243 028 1222210 1 00 462 1.211,016 35,007 1 332 491 1 305 202 OPERATING EXPENSES Personnel and Administration 299,592 7,000 5,800 1,000 6,800 7,000 P1R -Board of Supervisors 5,700 6,200 1,750 77 521 536 FICA Taxes 436 474 536 26,000 444 13,432 2,686 16,118 26,000 ProfServ- Englneering 37,564 22,923 4,512 22,722 4,544 27,266 12,500 ProfServ-Legal Services 30,200 38,472 12,500 23,735 4,747 28,482 29,336 ProfServ-Mgmt Consulting Sery 26,978 27,652 28,482 18,755 3,751 17,025 17,025 ProfServ- Property Appraiser _ 17,025 17,025 17,025 3,214 7,885 8,122 ProfServ- Special Assessment 7,468 7,655 7,885 7,885 _ w ProfServ- Utility Billing 15,155 9,053 - 1,267 3,500 3,750 Auditing Services 3,750 3,500 3,750 3,500 17 100 Communication - Telephone 21 36 100 14 3 117 700 1,200 Postage and Fralght 561 696 1.000 583 50 300 Rental - Meeting Room 325 325 350 250 7,577 9,028 026 Insurance - General Liability 7,830 7,650 8,270 7,577 _ 785 1,300 Printing and Binding 986 930 1,500 561 224 702 800 1,000 Legal Advertising 353 670 1,600 98 2,078 416 2,494 2,600 Miscellaneous Services 1,371 2,265 2,050 20,525 2,176 22,701 22,701 Misc- Assessmnt Collection Cost 20,371 12,660 22,701 32 194 500 Office Supplies 517 305 750 162 Depreciation Expense 308,309 321,266 Total Personnel and Administration 467,895 479.797 141,499 126,391 16,774 143,165 143,047 wafer -Sewer Comb Services 299,592 309,533 258,337 51,589 309,926 ,533 301,750 Contracts -Mgmt Services 304,000 1,750 1,750 1 Contracts -Other Services 1,750 1,750 2,000 795 4,772 4,512 Communication - Teisph - Field 3,867 4,033 4,512 3,977 13,573 81,439 83,000 Utility - General 79,963 81,516 80,000 67,866 7,949 2,051 10,000 20,500 R &M- Irrigation 28,121 38,517 10,000 10,000 18,755 3,751 22,506 14,000 R&M-Water Plant 21,415 45,712 9,866 16,070 3,214 19,284 45,000 R &M- Waste 46,609 82,093 1,267 2,079 - 1,267 Misc -Bad Debt 4,, 5375 500 4 4,375 4,375 4,500 Misc- Licenses &Permits ,375 • 27,516 7,516 2 Cap Outlay- Irrigation Annual Operating and Debt Service Budget 7 Fiscal Year 2014 f PORT OF THE ISLANDS Community Improvement District t ; Water And Sewer Fund Summary of Revenues, Expenses and Changes in Net Assets Fiscal Year 2014 Adopted Budget ADOPTED ACTUAL PROJECTED TOTAL ADOPTED ACTUAL ACTUAL BUDGET THRU AUG PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2011 FY 2012 FY 2013 JUL -2013 SEP -2013 FY 2013 FY 2014 Cap Outlay -Water Plant 50,000 125,730 162,882 288,612 4,000 Cap Outlay -Waste Water Plant - - 20,000 Total Weter- SnverComb Services 490,100 560,567 533,592 237,855 771,447 506,795 Debt Service Principal Debt Retirement - 497,303 - - 514,758 Interest Expense 179.380 174,899 158,056 92,200 65,856 158,056 140,601 Total Debt Service 179,380 174,899 655,359 92,200 65,856 158,056 655,360 TOTAL OPERATING EXPENSES 1,137,375 1 215363 1,277,269 752,183 320,485 1,072,668 1 305 202' Operating income (loss) 105,653 6,847 23,193 458.833 (285.479) 259,823 0 OTHER FINANCING SOURCES (USES) Contribution to (Use of) Fund Balance TOTAL OTHER SOURCES USES Change In net assets TOTAL NET ASSETS, BEGINNING TOTAL NET ASSETS, ENDING 105,653 6,847 23.193 458,833 (285,479) 259.823 0 7,436,046 7,541,699 7,548,546 7,548,546 7,548,546 7,808,369 S 7,541,699 _ $ 7,548,546 Annual Operating and Debt Service Budget Fiscal Year 2014 8 PORT OF THE ISLANDS Community Improvement District Budget Narrative Fiscal Year 2014 Water and Sewer Fund 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 4% 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 Debt Service Budget 9 Fiscal Year 2014 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 Debt Service Budget 10 Fiscal Year 2014 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. 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 -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) 744 Simplex Grinnell Alarm Monitoring Sprint Taut Total ed svc to notify Bab of power failures 64 $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 o 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 Debt Service Budget 11 Fiscal Year 2014 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 Debt Service Budget Fiscal Year 2014 12 PORT OF THE ISLANDS Community Improvement District Debt Amortization Series 2010 Bond Period Coupon Debt Annual Debt Ending Principal Rate Interest Service somas 111112013 $70.300.56 $70,300.56 5/1/2014 $514,758.49 3.510% $70,300.56 $585,059.05 $655,359.61 11/1/2014 $61,266.55 $61.266.55 5/1/2015 $532,826.51 3.510% $61,268.55 $594,093.06 $655,359.61 11/1/2015 $51,915.45 $51,915.45 5/1 /2016 $551,528.72 3.510% $51,915.45 $603,444.17 $655,359.62 11/1/2016 $42,236.12 $42,236.12 5/1/2017 $570,887.38 3.510% $42,236.12 $613,123.50 $655,359.62 11/1/2017 $32,217.04 $32,217.04 5/1/2018 $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 11/112019 $11,111.55 $11,111.55 5/1/2020 $633,136.52 3.510% $11,111.55 $644,248.07 $655,359.62 Total $4, 005,730.15 $581, 787.14 $4,567,51729 $4,587,517.24 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 Roll FY 2013 -2014 Product Type Malnt. ERC Allocation MainVERC $ 400 WIS ERC Allocation W/S Standby E__ $1,124 $413 W/S Ca It $711 Total per Product Hotel Room 1.00 $400 0.60 $248 $427 $1,074 Condo Unit 1.00 $400 0.80 $330 $569 $1,299 Single Family 1.00 $400 1.00 $413 $711 $1,524 Comparison FY 2013 to FY 2014 Product Type Total FY 2014 Total Increase FY 2013 (Decrease) % Change Hotel Room $1,074 $1,074 $0 0% Condo 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 E M C{ "0 D CL E CL CL L) co ■ Z E X >2 0 I— CL LZ 2 Cd E C 0 E I = 0 IL 0 TX —.....-T )��\ �� \! ®\ 2