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05/16/2014 Agenda
Port 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, May 16, 2014— 10:00 a.m. 1. Call to Order and Roll Call (� 2. Approval of the Minutes of the April 18,2014 Meeting tJ 3. Public Comment on Agenda Items 1 [�IQ 4. Old Business AIL A. Review of Landscape Maintenance Performance B. Discussion of Landscape Maintenance Contract 13 y C. Villages of Stella Maris Road Transfer D. Newport Road Signage 5. New Business A. Discussion of Request for Union Road Access from the Florida Department of Agriculture and Consumer Services 6. District Manager's Report A. Approval of the April 30,2014 Financial Statements and Check Register B. Report on Number of Registered Voters—477 C. Acceptance of the Fiscal Year 2013 Audit D. Distribution of the Proposed Budget for Fiscal Year 2015 and Consideration of Resolution 2014-05 Approving the Budget and Setting the Public Hearing E. Discussion of Utility Rate Adjustment 7. Field Manager's Report A. Discussion of May 2014 Field Manager's Report 8. Attorney's Report A. Update on North Hotel Foreclosure Proceedings 9. Engineer's Report A. Discussion of Engineering Firm Rate Adjustments 10. Supervisors' Requests 11. Public Comment Period 12. Adjournment The next meeting is scheduled for Friday,June 20,2014, at 10:00 a.m. District Office: Meeting Location: Severn Trent Services,Inc. Orchid Cove Clubhouse 5911 Country Lakes Drive 25005 Peacock Lane Fort Myers,Florida 33905 Naples,Florida 34114 239-245.7118 http://poicid.com/ 239-430-0806 LANDSCAPE CONTRACT 2 (Scope of Work) 3 4 5 GENERAL 6 7 Proper landscape maintenance sustains the quality and health of a landscaped area and preserves 8 the intended design concept. Landscaping is intended to provide overall aesthetically pleasing 9 appearance for the community. 10 11 Plants are chosen for their natural shape and growth habit. All cultural practices should encourage 12 and enhance the natural form of the plant material. Trimming and pruning should not alter this 13 form appreciably.All mowing,trimming and pruning work will be done between the hours of 14 7:00AM and 7:00PM, Monday thru Friday weather permitting. 15 16 Contractor will perform a monthly walk-thru of the property with the District's designated 17 representative and will provide the District with a detailed monthly inspection report. 18 19 The following is to serve as required specifications and to provide guidance in the maintenance of 20 the areas which fall under the Maintenance Contract.All material is guaranteed by the Contractor 21 to be as specified. 22 23 24 TREES 25 26 A.Staking 27 1. The purpose of staking trees is to support and protect young trees until they are able 28 to stand alone. 29 2. All tree stakes and ties shall be maintained to properly support the tree.They shall 30 be inspected a minimum of once every 60 days to prevent girdling or chafing of 31 trunks or branches or rubbing which may cause bark wounds. 32 3. Stakes should not remain on trees for longer than a one year period. 33 34 B.Pruning 35 1. All trees shall be allowed to grow to their natural genetic form and size,unless 36 specifically excluded. 37 2. All trees shall be pruned to promote structural strength and to accentuate the natural 38 form and features of the tree. 39 3. Pruning must be carried out to permit unobstructed passage to pedestrians and 40 motor vehicles and to prevent sight restrictions near intersections. This means that 41 branches should be maintained to 7-1/2 ft.above sidewalks and 12 ft.above 42 vehicular areas. Shrubs and groundcover must be trimmed 4 in. from sidewalks and 43 curbs. 44 4. Stripping of lower branches("raising up")of young trees shall not be permitted. 45 Lower branches shall be retained in a"tipped back"or pinched condition with as 46 much foliage as possible to promote trunk caliper. Lower branches should be cut 47 off only after the tree is able to stand erect without staking or other support. 48 5. Thinning of certain species and individual specimens may be required to prevent 49 wind damage. Suckers,water sprouts,rubbing and heavily laden branches shall be 50 removed to provide less wind resistance. 51 6. Palm trees shall be trimmed annually,May 15 through June 15,when the flower 52 stalks have developed,but before flowering has occurred. Palms shall be trimmed 53 up to 15' on a weekly basis(as needed)to remove dead or dying fronds,coconuts 54 and seed pods.The exception being those palms that are not supposed to be 55 trimmed manually. 56 57 C.Fertilization 58 1. Most trees shall be fertilized annually, in the spring,with a complete fertilizer. 59 Fertilization of mature trees shall be required only if the trees show a definite need 60 for fertilization. 61 2. Fertilizer shall be applied around the tree,approximately halfway between the trunk 62 and the drip line,at the rate of one-half pound of nitrogen per inch of trunk 63 diameter measured at four feet above the soil surface. 64 3. All trees shall be observed for signs of nutrient deficiencies and treated to correct 65 deficiencies throughout the year. 66 67 SHRUBS AND VINES 68 69 A.Pruning 70 1. Shrubs and vines shall be pruned to maintain growth within space limitations,to 71 maintain or enhance the natural growth habit,or to eliminate diseased or damaged 72 growth. Some species shall be trimmed appropriately to influence flowering and 73 fruiting,or to improve vigor. 74 2. Shrubs and vines must be trimmed as needed to permit unobstructed passage to 75 residents or vehicles. Trimming near vehicular entry or exits shall be carried out to 76 prevent sight restrictions. 77 3. Shrubs shall be pruned to conform to the design concept of the landscape. 78 Individual shrubs shall not be clipped into balled or boxed forms,except where 79 specifically instructed. 80 4. Vines shall be pruned to control growth and direction,and shall not be allowed to 81 grow over windows,doors or other structural features,unless directed by a 82 representative of the Manager/Owner. Vines shall not be allowed to grow over the 83 crowns of shrubs or trees. 84 85 B.Fertilization 86 1. Most shrubs and vines should be fertilized annually. Plants that have reached 87 maturity may not require annual fertilization. 88 2. All actively growing plants,not yet at maturity, shall be fertilized yearly during the 89 months of February through March. Apply an appropriate slow-release, long 90 lasting complete fertilizer,controlled release fertilizer,or plant tablets at the 91 manufacturer's recommended application rate. 92 3. All plants shall be observed for signs of nutrient deficiencies and treated to correct 93 deficiencies throughout the year. Nutrient deficiency shall be brought to the 94 attention of the Manager/Owner and properly identified prior to treatment. 95 96 GROUND COVERS 97 98 A.Trimming 99 1. Established ground covers bordering sidewalks or curbs shall be edged as often as 100 necessary to prevent encroachment. 101 2. Ground covers shall not be allowed to touch or cover the crowns of shrubs and 102 trees. 103 3. Some ground covers may require cutting back to remove woody growth and 104 promote vigor. This shall be performed at the direction of the Manager/Owner. 105 106 B.Fertilization 107 Fertilization shall coincide with the growing season of each specific ground cover. 108 One application of a complete fertilizer in the spring,per manufacturer's 109 recommended rate,adequate for established ground covers. 110 111 112 TURF AREAS(LAWNS) 113 114 A.Mowing 115 1. Lawns shall be mowed weekly during the growing season(April thru October)and 116 as required during the winter months but not less than two times per month 117 (November thru March).The exception will be for the Well access road which will 118 be mowed on an as needed basis.Mowing to be done between 7:00AM and 119 7:00PM. 120 2. The height of cutting shall be maintained consistently to prevent scalping or burn. 121 The mowing height shall be appropriate to the turf species(3-4 inches). 122 3. Excessive grass clippings shall be collected and disposed of. Adjacent sidewalks 123 and streets shall be clean of clippings. 124 4. Mowing patterns shall be alternated each week to avoid creating ruts and 125 compaction.Turf areas inaccessible to mowing machinery will be controlled by 126 manual or chemical means,as environmental conditions permit. 127 5. Contractor must avoid damage to any littoral shelf plantings when mowing around 128 the ponds and lake management areas. 129 130 B.Edging 131 1. All lawn edges along sidewalks and curbs shall be edged before each mowing 132 during the active growing season(March through October)and as required for 133 appearance for the remainder of the year. 134 2. Edging shall be performed with a blade type mechanical edger. The cut edge 135 should appear as a clean,straight line. 136 3. A monofilament line trimmer shall be used to trim around obstacles within the lawn 137 area. Care shall be taken to insure that the bark of trees and shrubs are not damaged 138 or stripped by the line trimmer. 139 4. Lawn sprinkler heads shall only be edged to allow for proper distribution of water. 140 141 142 143 144 145 C.Fertilization 146 1. April 1 to April 15: apply granular fertilizer 12-12-12 at a rate of 1 pound actual 147 nitrogen per 1000 square feet. This rate is 8.5 lbs.per 1000 sq.ft.or 365 lbs.per 148 acre. 149 2. May 15 to May 31: apply granular fertilizer 21-0-0 ammonium sulphate at a rate of 150 one-half pound of nitrogen per 1000 square feet. This rate is 2.4 lbs. per 1000 sq. 151 ft. or 1051 lbs.per acre. 152 3. July 1 to July 15: apply granular fertilizer 32-0-0 ammonium nitrate at a rate of 153 one-half pound actual nitrogen per 1000 square feet. Rate 1.6 lbs.per 1000 sq.ft. 154 or 68 lbs.per acre. 155 4. September 1 to September 15: apply granular fertilizer 16-16-16 at a rate of one 156 pound of nitrogen per 1000 square feet. Rate 6.2 lbs. per 1000 sq.ft.or 275 lbs. per 157 acre. 158 159 DISEASE AND PEST CONTROL 160 161 A.All chemical controls must be applied under the supervision of a licensed and qualified 162 pest control applicator,following the procedures set forth in the labeling of the product, 163 as required by law. 164 B.Healthy plants and lawns should be able to withstand minor disease and insect damage 165 without controls. Routine application of pesticides shall not be practiced,as this destroys 166 natural predator-prey relationships in the environment. 167 1. Where usually high infestations or infections occur,an accurate identification of the 168 disease or insect shall be made and the control selected with care,prior to 169 application. 170 2. The Manager/Owner shall be provided with the labeling for each pesticide used 171 before the product is applied. 172 3. Gophers shall be trapped or controlled with approved baits. 173 174 175 WEED CONTROL 176 177 A.Pre-Emergent Control 178 1. All areas dressed with decomposed granite or natural ground shall be treated with 179 pre-emergent herbicide twice yearly: in spring between February 15 and March 15, 180 and in fall between October 15 and November 15. The pre-emergent must receive 181 0.511 of rain or be watered in within 10 days of application. 182 2. Areas seeded with wild-flowers shall be identified by the Manger/Owner and shall 183 not be treated with pre-emergent herbicide. 184 B.Post Emergent Control 185 1. All areas shall be kept free of weeds. Chemical and/or mechanical means may be 186 used as appropriate. If any weeding is not performed,maintenance will be 187 considered unsatisfactory. 188 2. Before applying herbicides,the type of weed shall be identified and the control 189 selected accordingly,using the most effective control for the species,the location 190 and the season. 191 3. Weeds shall not be allowed to grow in paved areas such as driveways,walks,curbs, 192 gutters,etc. Weeds may be removed manually or sprayed with herbicide. Dead 193 weeds shall be removed from the paved areas. 194 4. The manager/owner shall be provided with the labeling(MSDS)for each herbicide 195 proposed before the product is applied. 196 5. Post emergent shall be sprayed at the manufacturer's recommended rates. 197 6. Weeds shall be controlled in turf areas. Mowing is not an acceptable method for 198 weed control.No blade edger will be used around"tree circles".Weed trimmers 199 may be used for maintaining turf-grass at the edge of mulched areas. 200 201 202 DEBRIS REMOVAL 203 204 A.Litter and trash including leaves,rubbish,paper,bottles,cans,rocks,gravel,and other 205 debris shall be removed from all areas on a weekly basis. 206 B.All refuse resulting from the maintenance operation on the properties shall be removed 207 from the properties and disposed of at proper locations. 208 C.Hardscape(i.e.sidewalks,patios,driveways)shall be swept or blown free of debris 209 weekly. 210 211 212 SURFACES 213 214 A.All areas dressed with decomposed granite shall be raked as needed,but not less than once 215 every four(4)weeks. 216 B.All soil shall be re-graded,as necessary,on a weekly basis. 217 C.Paved sidewalks,medians,bike-paths and patio areas shall be swept or blown off with a 218 power blower on a weekly basis. 219 220 221 IRRIGATION 222 223 A. The irrigation shall be operated at an appropriate seasonal schedule,using the least amount 224 of water necessary to maintain the growth,health,and vigor of all landscape plant 225 materials. 226 B. Irrigation controllers shall be re-programmed at a minimum of once monthly in order to 227 match plant material water needs to the irrigation applied. 228 C. The contractor shall maintain a log of current sprinkler station times.A copy of the log 229 shall be given to the Manager/Owner after routine inspection.The log shall include,but is 230 not limited to: 231 1. Controller location 232 2. Scheduled days to run 233 3. Start times 234 4. Station location 235 5. Each station's run time 236 6. End time 237 7. Contractor's employee initial and date 238 D. The contractor is required to employ the necessary qualified irrigation technician(s)to 239 maintain and repair all irrigation systems on the property.The contractor shall maintain a 240 reasonable inventory of commonly required repair parts on the service vehicle in order to 241 facilitate prompt irrigation system repairs.This should also apply to any lighting fixtures 242 that are damaged by the Contractor. 243 E. Irrigation repairs shall be made with the same brand,make,and model of component 244 where the use of a different part will adversely affect the system efficiency(i.e. sprinkler 245 heads and emitters). 246 F. When a sufficient amount of rainfall has occurred,the contractor will turn off the irrigation 247 system until it is necessary to water again.A properly adjusted automatic rain shut off 248 device may be used for this purpose. 249 G. Irrigation and sprinkling will be performed by contractor,as well as all maintenance of 250 irrigation systems. 251 H. Repairs to sprinkler equipment damaged by mowers or equipment operated by the 252 contractor shall be the responsibility of the contractor,at no cost to the owner. If repair 253 work is not accomplished in a timely manner, Manager/Owner shall have work completed 254 and deduct loss from monthly payment. 255 I. Perform sprinkler check/inspection after each mowing.Areas of clear ground will be 256 maintained around turf irrigation heads to permit un-obstructed water distribution. 257 J. Report and flag all water leaks and/or system malfunctions to the Manager/Owner. 258 259 260 REPLANTING AND EXTRA WORK 261 262 A.Plant material which dies through the fault or neglect of the contractor,or due to 263 preventable circumstances,shall be replaced with a specimen of the same species and of 264 equal or similar size as the plant lost,at no cost to the owner. This must be coordinated 265 with the Manager/Owner. 266 B.Mulching should be done annually in September or October after the rainy season 267 subsides with a good quality"heavy"mulch.Mulch should be maintained at a depth of 3 268 inches.The possibility exists of mulching 2x a year or at least re-mulching in washed-out 269 areas as necessary.No mulch is applied within six inches of plant bases. Mulching may 270 be done as a separate billable contract item(or a totally separate contractor). Prepared by: Daniel H.Cox,P.A. P.O.Drawer CC Carrabelle,FL 32322 MAINTENANCE AGREEMENT AND GRANT OF EASEMENT This Agreement is between the Port of the Islands Community Improvement District,whose address is c/o District Offices,5884 Enterprise Parkway,FT Myers,FL 33905 ("District")and Villages at Stella Maris Master Association,Inc.,a Florida corporation not for profit whose address is C/O Professional Community Service Of Southwest Florida,Po Box 110156,Naples,Fl 34108("Villages"). A. Villages is a master association with responsibility to maintain the common areas created by that Master Declaration of Covenants,Conditions, Restrictions and Easements for Villages at Stella Maris Master Association, Inc.recorded at Official Record 3065,Page 2238 of the Public Records of Collier County,Florida. B. District is a Community Development District established pursuant to Chapter 190,Florida Statutes and has the responsibility for maintaining and operating the potable water and sanitary sewer facilities,roadways and other community facilities serving the Villages property and other communities within the Port of the Islands. C. Villages,requested that the District maintain the potable water distribution !Deleted: has system and sanitary sewer collection system serving the Villages community ("Facilities") p.,. wll it Stella ��d:provide mosquito spraying and 1Ci C"l�the Cltdlt of t(?t'i of roadway surface(4t1{) within the Villages community Maris North. D. District is willing to accept maintenance responsibility for the facilities under the terms of this Agreement. NOW THEREFORE,in consideration of ten dollars and other good and valuable consideration exchanged between the parties,the receipt and adequacy of which are acknowledged unto each other,the parties agree as follows: 1. District accepts maintenance responsibility for the Facilities,but shall not be responsible for repairing any hardscape or landscape damaged in the reasonable exercise of its maintenance responsibility accepted hereby. Potable water distribution systems will be maintained up to and including the back flow preventer. Sanitary sewer collection systems that will be maintained by the District are limited to manholes M-1,M-2,M-3,M-4 and M-4A and the 8 inch PVC gravity sewer line connecting those manholes. 2. Villages hereby dedicates Stella Maris North to the District as a public right Deleted:grants of-way and an easement for ingress,egress and maintenance of the facilities over,across and under all common elements of the Condominium property as necessary for the maintenance of the Facilities, !Deleted: and for mosquito control 3. District accepts the dedication and grant of easement and will be re ponsitsle for the repair and maintenance of the asphalt surface of Stella Maris North without accepting responsibility for maintenance of the drainage systems serving the roadway and the common areas or for asphalt surfaces related to the boat storage area. 4. Villages acknowledges its responsibility to maintain the drainage systems and will immediately repair any damage to the roadway resulting from the repair, renewal or replacement of the drainage,systems underlying;the roadway. 5. Villages hereby indemnifies,saves,defends and holds District(including, without limitation,District's officers,employees,agents and nominees) harmless from and against any and all losses,damages(including,without limitation,any and all consequential damages),costs,charges,expenses, claims,demands,causes of action,accounts,sums of money,reckonings, bounds,bills,covenants,controversies,agreements,promises,variances, trespasses,executions,and liabilities(including reasonable attorney fees and costs at all levels and/or negotiations)whatsoever,at law or in equity,whether in tort,in contract,or otherwise,which may be asserted or recovered against District(including,without limitation,District's officers,employees,agents and nominees),whether asserted by suit,proceeding,defenses,counterclaims, set-offs or otherwise,resulting from District's,its successors or assigns (including,without limitation,their invitees,licensees,franchisees,guests, lessees,employees,agents and nominees),exercise of its rights under this agreement. Villages's obligation to indemnify the District shall not arise if the District's liability is the result of grossly negligent or intentional wrongful acts of the District. Agreed this_day of ,2014. ATTEST: PORT OF THE ISLANDS COMMUNITY IMPROVEMENT DISTRICT Calvin Teague,Secretary Norine Dillon,Chairman STATE OF FLORIDA COUNTY OF COLLIER The foregoing instrument was executed before me by Norine Dillon,as Chairman of the Board of Supervisors of the Port of the Islands Community Improvement District, on this the_day of ,2014. She L]is personally known to me or L]produced— �,. as identification. (SEAL) Notary Public ATTEST: VILLAGES at STELLA MARIS MASTER ASSOCIATION,INC.,a Florida corporation not for profit William D.White,Secretary David Keyser,President (SEAL) STATE OF FLORIDA COUNTY OF COLLIER The foregoing instrument was executed before me by David Keyser,as President of Villages at Stella Maris Master Association,Inc.,on this the_day of ,2014. He is L]personally known to me or L]produced _._...__ as identification. (SEAL) Notary Public II Prepared by: Daniel H. Cox,P.A. P.O. Drawer CC Carrabelle, FL 32322 MAINTENANCE AGREEMENT AND GRANT OF EASEMENT This Agreement is between the Port of the Islands Community Improvement District,whose address is do District Offices, 5884 Enterprise Parkway, FT Myers, FL 33905 ("District")and Villages at Stella Maris Master Association, Inc.,a Florida corporation not for profit whose address is C/O Professional Community Service Of Southwest Florida,Po Box 110156,Naples,Fl 34108 ("Villages"). A. Villages is a master association with responsibility to maintain the common areas created by that Master Declaration of Covenants, Conditions, Restrictions and Easements for Villages at Stella Maris Master Association, Inc. recorded at Official Record 3065,Page 2238 of the Public Records of Collier County, Florida. B. District is a Community Development District established pursuant to Chapter 190,Florida Statutes and has the responsibility for maintaining and operating the potable water and sanitary sewer facilities,roadways and other community facilities serving the Villages property and other communities within the Port of the Islands. C. Villages requested that the District maintain the potable water distribution system and sanitary sewer collection system serving the Villages community ("Facilities")and accept the dedication of roadway surface known as Stella Maris North. D. District is willing to accept maintenance responsibility for the facilities under the terms of this Agreement. NOW THEREFORE, in consideration of ten dollars and other good and valuable consideration exchanged between the parties,the receipt and adequacy of which are acknowledged unto each other,the parties agree as follows: 1. District accepts maintenance responsibility for the Facilities,but shall not be responsible for repairing any hardscape or landscape damaged in the reasonable exercise of its maintenance responsibility accepted hereby. Potable water distribution systems will be maintained up to and including the back flow preventer. Sanitary sewer collection systems that will be maintained by the District are limited to manholes M-1, M-2,M-3, M-4 and M-4A and the 8 inch PVC gravity sewer line connecting those manholes. 2. Villages hereby dedicates Stella Maris North to the District as a public right- of-way and an easement for ingress, egress and maintenance of the facilities over, across and under all common elements of the Condominium property as necessary for the maintenance of the Facilities. 3. District accepts the dedication and grant of easement and will be responsible for the repair and maintenance of the asphalt surface of Stella Maris North without accepting responsibility for maintenance of the drainage systems serving the roadway and the common areas or for asphalt surfaces related to the boat storage area. 4. Villages acknowledges its responsibility to maintain the drainage systems and will immediately repair any damage to the roadway resulting from the repair, renewal or replacement of the drainage systems underlying the roadway. 5. Villages hereby indemnifies, saves, defends and holds District(including, without limitation,District's officers, employees,agents and nominees) harmless from and against any and all losses, damages(including,without limitation, any and all consequential damages),costs, charges, expenses, claims, demands,causes of action,accounts, sums of money,reckonings, bounds, bills,covenants, controversies, agreements,promises,variances, trespasses, executions, and liabilities(including reasonable attorney fees and costs at all levels and/or negotiations)whatsoever, at law or in equity,whether in tort, in contract,or otherwise,which may be asserted or recovered against District(including,without limitation, District's officers,employees, agents and nominees),whether asserted by suit, proceeding,defenses, counterclaims, set-offs or otherwise,resulting from District's, its successors or assigns (including, without limitation, their invitees, licensees, franchisees, guests, lessees, employees, agents and nominees),exercise of its rights under this agreement. Villages's obligation to indemnify the District shall not arise if the District's liability is the result of grossly negligent or intentional wrongful acts of the District. Agreed this—day of ,2014. ATTEST: PORT OF THE ISLANDS COMMUNITY IMPROVEMENT DISTRICT Calvin Teague, Secretary Norine Dillon, Chairman STATE OF FLORIDA COUNTY OF COLLIER The foregoing instrument was executed before me by Norine Dillon, as Chairman of the Board of Supervisors of the Port of the Islands Community Improvement District, on this the_day of ,__, _,_,2014. She L] is personally known to me or 11 produced as identification. (SEAL) Notary Public ATTEST: VILLAGES at STELLA MARIS MASTER ASSOCIATION, INC., a Florida corporation not for profit William D. White, Secretary David Keyser,President (SEAL) STATE OF FLORIDA COUNTY OF COLLIER The foregoing instrument was executed before me by David Keyser,as President of Villages at Stella Maris Master Association,Inc., on this the day of , 2014. 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N 0 tn' I . 1- o 1b J Q a H' °lt `, z n A A C m a ° a o o n -% a 1 e o6 N a`-) 06 0 (r) O J °� 0 Cl) 06 w c e0a rn m «s eca c c °u to c a o coi c E ac i �' E a? c • :? E E '� `° E ,E a� p o c 0 0 - 0 .E ti p aJ n p a� a V C.) @ o 0 `-- m o rn o c m v V N a a U c o Gi H U C m v c 2 v c 2 C U) �° co T af°i rA coo C� v C7 fa J %) m J T? U) N 3 J O` b J 2 a. . N — o c o Y ,2-: 0 0 ❑ 4. U) < - ) Q CO (n 0 0 Cl) U) ❑ ❑ C -J Date: 5/15/2014 5935 Taylor Rd. Naples FL. 34109 Estimate # : 11129 'f fra� Created By r g , PHONE 239-594-8494 Jim Geiger FAX 239-591-3940 239-594-8494 jim @lykins-signtek.com Estimate/Contract Prepared By Lykins Signtek, Inc.for : Port of Islands CDD C/O Severn Trent Management Svcs Address: 5911 COUNTRY LAKES DR FORT MYERS FL To: TENNILLE ADAMS Phone: 245-7118 OCT 3 From: Jim Geiger Fax: Quote Description: Port of Islands- DOT signs Item Description Quantity @ Price 1) 30" Stop sign mounted on 2" dot square post. Installed 2 $225.00 $450.00 2) 30" Yield sign mounted on 2" dot square post. Installed 1 $225.00 $225.00 3) 30" stop sign and 36x12 One Way( left), mounted on 2" 1 $285.00 $285.00 dot square post. Installed Sub Total: $960.00 Sales Tax: $57.60 Total: $1,017.60 **NOTE : Signs are custom produced to your specifications. All orders of$250.00 or less require pre-payment unless prior credit arrangements are in place. I accept the above proposal and agree to pay for said work promptly upon completion of same. Authorized Signature: Date: Deposit Amount: CHECK/CC# Terms and Conditions: Prices on this contract are valid for 30 days. 50%deposit is required to commence and the balance is due upon completion Signing of this document constitutes a legal and binding contract between parties named on this agreement. Customer is responsible for landscape amenities within install area or as required for permitting Lykins Signtek is NOT responsible for Irrigation or Private Underground Lines. Goods sold remain the property of seller until paid in full. Customer agrees to provide necessary information to obtain permit,electrical supply to sign or fixture location,and/or provide color and logo Information where specified. Customer is responsible for any cap rock,lime rock or unforeseen digging conditions 1.5"A Monthly Late Fee applied to all past due invoices Warranties: Workmanship: All signs or fixtures fabricated and installed by Lykins Signtek and its affiliates are warranted against defects in material and workmanship for one year,parts and labor. Page I of I 0 Soto's Lawn Service, Inc Estimate f 2830 35th Ave NE Soto'S /�r Naples, FL 34120 Date Estimate No Lawn Service, Inc. 7 .,< 05/13/2014 2584 v 11 (239)354-1080 www.sotolawn.com Exp. Date Address Port of the Islands CID Accounts Payable Specialist Severn Trent Services 210 N. University Drive,Ste 702 Coral Springs, FL 33071 Activity Quantity Rate Amount • Recommending to install 9 pots on Newport Drive (Purpose:to separate traffic) • Terracotta Pots, 3' x 3' 9 350.00 3,150.00 • Agave, Americana (7 Gallon) 9 160.00 1,440.00 • Top Soil Mix(yard) 4 60.00 240.00 • River Rock(yard) 0.5 225.00 1 12.50 All Estimates must be signed and returned Total $4,942.50 prior to start of project. Jdlt vr o O v��~ IV Y O UE1 u' W a w Z w ° ti. LLJ Z • u' ^ V o O U 7 0 F 0 Z O ( Z U vi Cr 4 Z O . O a Q a . w a oa3 ;> Ym O Z 1,_a w O 2 0 V_=3 m m tA O w U I- .-i O m F o $ ,, U W U O Z W J g H i 1 11111 IIII 1111 �W Q X vt X _m U w ce g CC a i a m O X X O v~i v W z III a Q o 2 a cc 0 0 z a 3 z x 0 0 v, Y a u I- O z Oa I- I- I- a a in W V 9 QQ O H @1 O Z Z a S U c.a 3 Z �. @) O H a 0 OC W } Q ...i Y O O Q )Q- vri O a Z r Z O F. v U v a I- v, u. @1 cc Q:z 0 U vi @J -.,. u 1 O O QYQ n @1 = a z ce a or Q Q m Q iii W l7 Z @-) @3 Y Z w N J O O3 0 o z w 0 3 a a W z w j w ? 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'.'i,'?;'!el‘V`'',,;,';',;,%‘', ,'' _ " gl C 'X 4", fi! s FLORIDA FOREST SERVICE yat r'! 10941 PALM BEACH BOULEVARD CALOOSAHATCHEE FORESTRY CENTER 9.,.. t �' FORT MYERS, FLORIDA 33905 (239)6901500 (239)690-3504 FAx '�v 1??11va° FLORIDA DEPARTMENT OF AGRICULTURE AND CONSUMER SERVICES COMMISSIONER ADAM H. PUTNAM April 29,2014 Cal Teague Severn Trent Services 5911 County Lakes Drive Fort Myers, Florida 33905 Dear Sir: As per our conversation on April 29,2014, please find attached a map of the proposed campground that the Florida Forest Service would like to install on the eastern side of the Faka Union Canal, approximately 1.5 miles north of US 41. The Florida Forest Service would like secure access to Union Road for users that will visit the campground via a Memorandum of Understanding(MOU). The MOU would basically state that Florida Forest Service has permission to offer visitors access to the campground via Union Road. Also as part of the MOU the Florida Forest Service would assist in the maintenance of the dirt road, as we have a motor grader, and proper use of the road would be enforced by both the Florida Forest Service and Florida Fish and Wildlife Conservation Commission. The Florida Forest Service does not expect a significant increase in traffic on the road as the campground would be small with only electric hook-ups being provided. Additionally,a majority of the use would be during the winter,as this presents the most favorable time for camping. The reason for the installation of this campground is in response to the loss of a very popular campground, the T-Canal Campground,on Picayune Strand State Forest as a result of the restoration project. The Florida Forest Service would like to try and return as much of that experience to the public as possible,and we believe that this campground would accomplish that goal. Also, based on our conversation,this proposal will be presented to the Community Improvement District. As such, I would be happy to attend if you believe that would allow the board to better understand the situation. Additionally, should the board view this request favorably I would be happy to draft a MOU for yours, and the board's review. I�sh 1-800-HELPFLA VIM&. www.FreshFromFlorlda.com CAL TEAGUE April 29,2014 Page Number Two My contact information is as follows: Kevin Podkowka Forest Resource Administrator Florida Forest Service 10941 Palm Beach Blvd. Fort Myers,FL 33905 239-690-3500 ext. 108 Kevin.PodkowkaC ifreshfromflorida.com. Thank you for your assistance in this matter and please contact me should you have any questions or concerns. Sincerely, n,it'LL Kevin Podkowka Forestry Resource Administrator KMP Picayune Strand State Forest 0 Proposed Port-of-the-Islands Campground 2014 rt Legend i Road on Fakahatchee Union Road ', Campground . l‘i el DASC:LAIMC?.:R- a.n x,.drwra"«.M :7a.aw n»�n.r . E.0 . - 0 4 C'.E; Port of the Islands Community Improvement District Financial Report April 30, 2014 Prepared by Elnagal PORT OF THE ISLANDS Community Improvement District Table of Contents FINANCIAL STATEMENTS Balance Sheet-All Funds Page 1 -2 General Fund Statement of Revenues,Expenditures and Changes in Fund Balance............... Page 3-4 Trend Report Page 5-6 Enterprise Fund Statement of Revenues,Expenditures and Changes in Fund Balance Page 7-8 Trend Report Page 9-10 IIII SUPPORTING SCHEDULES, Check Register Page 11 -13 Special Assessments-Collection Schedule Page 14 Construction Schedule Page 15-17 CIP Status Report Page 18-19 Cash Flow Projections Page 20-21 Cash Flow Projections-5 year Page 22 Monthly Activity Report Page 23-28 Accounts Receivable Ageing Report(90+days outstanding;..,.. Page 29-30 Repair and Maintenance Detail Reports Page 31 -34 • Port of the Islands Community improvement District Financial Statements (Unaudited) April 30, 2014 II PORT OF THE ISLANDS Community Improvement District Governmental and Enterprise Funds Balance Sheet April 30,2014 GENERAL WATER AND ACCOUNT DESCRIPTION FUND SEWER FUND TOTAL ASSETS Cash-Checking Account $ 349,786 $ 23,626 $ 373,412 Accounts Receivable 834 - 834 Assessments Receivable 123,691 354,838 478,529 Allow-Doubtful Collections (123,691) (354,838) (478,529) Interest/Dividend Receivables 490 - 490 Due From Other Funds 54,504 - 54,504 Investments: Certificates of Deposit-18 Months 152,763 - 152,783 Money Market Account 420,319 6,714 427,033 SBA Account 2,368 4,018 6,386 SBA Account-Restricted 3,984 8,310 12,294 SBA Account Reserves 2,803 - 2,803 SBA Account Reserves-Restricted 478 - 478 Construction Fund 127,038 127,038 FMV Adjustment 1,230 2,291 3,521 Prepaid Items - 585,059 585,059 Fixed Assets Land - 293,061 293,061 Infrastructure - 15,409,143 15,409,143 Accum Depr-Infrastructure - (4,113,195) (4,113,195) Equipment and Furniture - 226,308 226,308 Accum Depr-Equip/Furniture - (92,819) (92,819) Construction Work In Process 3,090 3,090 TOTAL ASSETS $ 989,559 $ 12,482,644 $ 13,472,203 1 J-'ABILITIES. Accounts Payable $ 50 $ 207 $ 257 Accrued Expenses 18,687 53,589 72,256 Deposits - 33,200 33,200 Other Current Liabilities - 1,920 1,920 Revenue Bonds Payable-Current - 514,758 514,758 Due To Other Funds - 54,504 54,504 Revenue Bonds Payable-LT - 3,490,972 3,490,972 'TOTAL LIABILITIES 18,717 4,149,150 4,167,867 ' Report Date:5/2/2014 1 PORT OF THE ISLANDS Community Improvement District Governmental and Enterprise Funds Balance Sheet April 30,2014 GENERAL WATER AND ACCOUNT DESCRIPTION FUND SEWER FUND TOTAL FUND BALANCES/NET ASSETS Fund Balances Assigned to: Operating Reserves 105,018 - 105,018 Unassigned: 865,824 865,824 Net Assets invested in capital assets, net of related debt - 7,719,859 7,719,859 Unrestricted/Unreserved - 613,635 613,835 (TOTAL FUND BALANCES/NET ASSETS $ 970,842 $ 8,333,494 $ 9,304,3381 TOTAL LIABILITIES 8 FUND BALANCES!NET ASSETS $ 989,559 $ 12;482,644 $ 13,472,203 Report Date:5/2/2014 2 PORT OF THE ISLANDS Community Improvement District General Fund Statement of Revenues,Expenditures and Changes In Fund Balances For the Period Ending April 30,2014 YTD ACTUAL AMENDED YEAR TO DATE YEAR TO DATE VARIANCE(a) AS A%OF APR-14 ACCOUNT DESCRIPTION BUDGET BUDGET ACTUAL FAV(UNFAV) AMENDED BUD ACTUAL REVENUES Interest-Investments $ 2,090 $ 1,219 $ 1,263 $ 44 60.43% $ 71 Net tncr(Decr)In FMV-Invest - 372 372 0.00% - Special Assmnts-Tax Collector 435,400 435,400 307,190 (128,210) 70.55% 13,102 Special Assmnts-Discounts (17,416) (17,416) (9,356) 8,080 53.72% 65 Other Miscellaneous Revenues - 1,162 1,162 0.00% TOTAL REVENUES 420,074 419.203 300 631 118 572 71.57% 13 238 EXPENDITURES Administration P/R-Board of Supervisors 7,000 4,000 3,500 500 50.00% 500 FICA Taxes 536 312 268 44 50.00% 38 ProfServ-Engineering 26,000 15,167 13,601 1,566 52.31% 1,174 ProfServ-Legal Services 12,500 7,292 8,727 (1,435) 69.82% 2,216 ProfServ-Mgmt Consulting Sery 29,216 17,043 17,043 - 58.33% 2,435 ProfServ-Property Appraiser 6,531 8,531 8,531 100.00% ProfServ-Special Assessment 9,520 9,520 9,520 - 100.00% - 1 Auditing Services 3,750 3,750 3,750 0.00% - Communication-Telephone 100 58 - 58 0.00% Postage and Freight 1,200 700 564 136 47.00% 134 Rental-Meeting Room 350 200 175 25 50.00% 25 Insurance-General Liability 9,028 6,771 6,068 703 67.21% 2,227 Printing and Binding 1,300 758 487 271 37.46% 150 Legal Advertising 1,000 583 681 (78) 66.10% - Miscellaneous Services 1,380 805 214 591 15.51% 4 Misc-Assessmnt Collection Cost 8,708 8,708 5,957 2,751 68.41% 263 Misc-Web Hosting 1,000 583 496 87 49.60% 142 Office Supplies 500 292 100 192 20.00% 25 Annual District Filing Fee 175 175 175 - 100.00% - Total Administration 119,794 83,248 74,087 9,181 61.85% 9,333 Field Contracts-Mgmt Services 100,000 58,333 58,333 - 58.33% 8,333 Contracts-Landscape 82,830 48,317 48,317 - 58.33% 8,902 Electricity-Streetlighting 19,000 11,083 9,101 1,982 47.90% 1,272 Utility-Irrigation 12,600 7,350 9,516 (2,166) 75.52% 1,154 R&M-Renewal and Replacement 30,849 17,996 21,440 (3,444) 69.50% - R&M-Irrigation 1 1 - 1 0.00% R&M-Roads&Alleyways 4,000 2,333 1,700 633 42.50% R&M-Signage 1,000 583 583 0.00% Capital Outlay 50,000 29,167 29,167 0.00% Total Field 300,280 175,163 148,407 26.756 49.42% 17,661 'TOTAL EXPENDITURES 420,074 258,411 222,494 35,917 52.97% 26,994 I Report Date:5/2/2014 3 • PORT OF THE ISLANDS Community Improvement District General Fund Statement of Revenues,Expenditures and Changes In Fund Balances For the Period Ending April 30,2014 YTD ACTUAL AMENDED YEAR TO DATE YEAR TO DATE VARIANCE($) AS A%OF APR-14 ACCOUNT DESCRIPTION BUDGET BUDGET ACTUAL FAV(UNFAV) AMENDED BUD ACTUAL Excess(deficiency)of revenues Over(under)expenditures - 160,792 78,137 (82,855) 0.00% (13,756) OTHER FINANCING SOURCES(USES) Operating Transfers-Out (368,000) (368,000) (368,000) 100.00% - Contribution to(Use of)Fund Balance (388,000) . 0.00% • 'TOTAL FINANCING SOURCES(USES) (736,000) (388,000) (368,000) 50.00% 1 Net change in fund balance $ (368,000) $ 160,792 $ (289,863) $ (450,655) 78.77% $ (13,756) FUND BALANCE,BEGINNING(OCT 1,2013) 1,280,706 1,260,706 1,280,705 FUND BALANCE,ENDING $ 892,705 $ 1,421,467 $ 970,842 e; ■ ■ Report Date:5/2/2014 4 PORT OF THE ISLANDS Community Improvement District General Fund Statement of Revenues,Expenditures and Changes in Fund Balances Trend Report For the Period Ending April 30,2014 TOTAL 1 Oct Nov Dec Jan Feb Mar Apr Actual Thru Adopted Account Description Actual Actual Actual Actual Actual Actual Actual 413012014 Budget Revenues Interest-Investments $ 239 8 207 $ 186 $ 181 $ 183 $ 196 $ 71 $ 1,263 $ 2,090 Net Incr(Decr)In FMV-Invest 82 155 (22) 103 11 43 - 372 • Special Assmnts-Tax Collector 3,465 117,281 94,542 31,018 3,447 44,335 13,102 307,190 435,400 Special Assmnts-Discounts (183) (4,675) (3,686) (777) (51) (49) 65 (9,356) (17,416) Other Miscellaneous Revenues - 1,162 - - 1,162 Total Revenues 3,603 114,130 91,020 30,525 3,590 44,525 13,238 300,631 420,074 Expenditures Administrative P/R-Board of Supervisors 500 500 500 500 500 500 500 3,500 7,000 FICA Taxes 38 38 38 38 38 38 38 268 536 ProfServ-Engineering - 1,510 2,018 4,034 4,365 500 1,174 13,601 26.000 ProfServ-Legal Services - 1,427 339 197 1,623 2,925 2,216 8,727 12,500 ProfServ-Mgmt Consulting Sery 2,435 2,435 2,435 2,435 2,435 2,435 2,435 17,043 29,216 ProfServ-Property Appraiser 6,531 - - 6,531 6,531 ProfServ-Specal Assessment - 9,520 - - - 9,520 9,520 Auditing Services - 3,750 Communication-Telephone - - - - 100 Postage and Freight 6 222 5 109 4 83 134 564 1,200 Rental-Meeting Room 25 25 25 25 25 25 25 175 350 Insurance-General Liability 1,921 - 1,921 - - 2,227 6,068 9,028 Printing and Binding 60 67 _ 129 - 81 150 487 1,300 Legal Advertising 104 76 304 177 - • 661 1,000 • Miscellaneous Services 45 69 41 19 21 15 4 214 1,360 Misc-Assessmnt Collection Cost 66 2,252 1,817 605 68 886 263 5,957 8,708 MIsc-Web Hosting 71 71 142 71 142 496 1,000 • Office Supplies 26 - - 25 • 25 25 100 500 Annual District Filing Fee 175 - - - 175 175 Total Administrative 12,003 8,692 7,522 19,876 9,079 7,584 9,333 74,087 119,794 Field Contracts-Mgmt Services 8,333 8,333 8,333 8,333 8,333 8,333 8,333 58,333 100,000 Contracts-Landscape 6,902 6,902 6,902 6,902 6,902 6,902 6,902 48,317 82,830 Electricity-Streetlighting 1,458 1,278 1,279 1,272 1,271 1,271 1,272 9,101 19,000 Utility-Irrigation 884 1,307 1,359 1,317 1,830 1,667 1,154 9,516 12,600 R&M-Renewal and Replacement - 85 - 13,655 1,200 6,500 - 21,440 30,849 R&M-Irrigation - - . - 1 R&M-Roads&Alleyways - 1,700 - - - 1,700 4,000 R&M-Signage 1,000 - - Capital Outlay - - - 50,000 Total Field 17,577 19,605 17,873 31,479 19,536 24,673 17,661 148,407 300,280 Total Expenditures 29,580 28,297 25,395 51,355 28,615 32,257 26,994 222,494 420,074 5 PORT OF THE ISLANDS Community Improvement District General Fund Statement of Revenues,Expenditures and Changes in Fund Balances Trend Report For the Period Ending April 30,2014 1 TOTAL 1 Oct Nov Dec Jan Feb Mar Apr Actual Thru Adopted Account Description Actual Actual Actual Actual Actual Actual Actual 4130/2014 Budget Excess(deficiency)of revenues Over(under)expenditures (25,977) 85,833 65,625 (20,830) (25,025) 12,268 (13,756) 78,137 - Other Financing Sources(Uses) Operating Transfers-Out (368,000) - - - - - (368,000) (368,000) Total Financing Sources(Uses) (368,000) - • - (368,000) (368,000) • Net change in fund balance $(393,977) $ 85,833 $ 65,625 $ (20,830) $ (25,025) $ 12,268 $ (13,756) $ (289,863) $ (368,000) FUND BALANCE,BEGINNING(OCT 1,2013) 1,260,705 1,260,705 FUND BALANCE,ENDING $ 970,842 $ 892,705 li 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 April 30,2014 YTD ACTUAL AMENDED YEAR TO DATE YEAR TO DATE VARIANCE(1) AS A%OF APR-14 ACCOUNT DESCRIPTION BUDGET BUDGET ACTUAL FAV(UNFAV) AMENDED BUD ACTUAL OPERATING REVENUES Interest-Investments $ 578 $ 337 $ 210 $ (127) 36.33% $ 1 Water Revenue 45,000 26,250 31,071 4,821 69.05% 4,954 Sewer Revenue 70,000 40,833 46,442 5,609 66.35% 7,859 Irrigation Fees 100,000 58,333 57,012 (1,321) 57.01% 8,738 Meter Fees . - 2,500 2,500 0.00% 1,250 Net Incr(Decr)in FMV-Invest - 693 893 0.00% Special Assmnts-Tax Collector 1,135,025 1,135,025 800,801 (334,224) 70.55% 34,156 SpecialAssmnis-Discounts (45,401) (45,401) (24,389) 21,012 53.72% 189 Other Miscellaneous Revenues - - 8,399 8,399 0.00% 485 (TOTAL OPERATING REVENUES 1,305,202 1,215,377 922,739 (292,638) 70.70% 57,612 I I OPERATING EXPENSES Personnel and Administration P/R-Board of Supervisors 7,000 4,000 3,500 500 50.00% 500 FICA Taxes 536 312 268 44 50.00% 38 ProtServ-Engineering 26,000 15,167 13,801 1,566 52.31% 1,174 ProtServ-Legal Services 12,500 7,292 8,727 (1,435) 69.82% 2,216 ProtServ-Mgmt Consulting Sery 29,336 17,113 17,113 58.33% 2,445 ProfServ-Property Appraiser 17,025 17,025 17,025 100.00% ProtSery-Special Assessment 8,122 8,122 8,122 - 100.00% Auditing Services 3,750 3,750 - 3,750 0.00% - Communication-Telephone 100 58 58 0.00% Postage and Freight 1,200 700 619 81 51.58% 134 Rental-Meeting Room 350 200 175 25 50.00% 25 Insurance-General Liability 9,028 6,771 6,068 703 67.21% 2,227 Printing and Binding 1,300 758 487 271 37.46% 150 Legal Advertising 1,000 583 661 (78) 66.10% Miscellaneous Services 2,600 1,517 723 794 27.81% 127 Misc-Assessmnt Collection Cost 22,701 22,701 15,528 7,173 68.40% 687 Office Supplies 500 292 100 192 20.00% 25 Total Personnel and Administration 143,048 106,361 92,717 13,644 _ 64.82% 9,748 Water-Sewer Comb Services Contracts-Mgml Services 309,533 180,561 180,561 . 58.33% 25,794 Contracts-Other Services 1,750 1,750 (1,750) 100.00% 1,750 Communication-Teleph-Field 4,512 2,632 2,748 (116) 60.90% 362 Utility -General 83,000 48,417 50,377 (1,960) 60.70% 7,761 R&M-Irrigation 20,500 11,958 22,331 (10,373) 108.93% 539 R&M-Water Plant 14,000 8,167 11,498 (3,331) 82.13% 1,639 R&M-Waste Water Plant 45,000 26,250 11,876 14,374 26.39% 4,480 Misc-Bad Debi 99 (99) 0.00% Misc-Licenses&Permits 4,500 3,500 6,375 (2,875) 141.67% Report Date:5/2/2014 7 PORT OF THE ISLANDS Community Improvement District Water And Sewer Fund Statement of Revenues,Expenses and Changes in Net Assets For the Period Ending April 30,2014 rut ACTUAL AMENDED YEAR TO DATE YEAR TO DATE VARIANCE($) AS A%OF APR-14 ACCOUNT DESCRIPTION BUDGET BUDGET ACTUAL FAV(UNFAV) AMENDED BUD ACTUAL Cap Outlay-Water Plant 4,000 2,333 59,732 (57,399) 1493 30% 34,532 Cap Outlay-Waste Water Plant 20,000 11,887 11,667 0.00% - Total Water-Sewer Comb Services 508,795 295,485 347,347 (51,882) 88.54% 76,857 Debt Service Principal Debt Retirement 514,758 - - 0.00% - Interest Expense 140,601 70,301 11,717 58,684 8.33% Total Debt Service 855,359 70,301 11,717 58,584 1.79% -. [TOTAL OPERATING EXPENSES 1,305,202 472,147 451,781 20,388 34.81% 56,606 I Operating income(loss) 743,230 470,958 (272,272) 0.00% (28,993) OTHER FINANCING SOURCES(USES) Interfund Transfer-In 388,000 - 368,000 388,000 100.00% ,TOTAL FINANCING SOURCES.(USES) 368,000 368,000 388,000 100.00% I - Change in net assets $ 368,000 $ 743,230 $ 838,958 $ 95,728 227.98% $ (28,993) TOTAL NET ASSETS,BEGINNING(OCT 1,2013) 7,484,636 7,494,636 7,494,636 TOTAL NET ASSETS,ENDING $ 7,862,638 $ 8,237,766 $ 8,333,494 ■ Report Date:5/2/2014 8 PORT OF THE ISLANDS Community Improvement District Wafer And Sewer Fund Statement of Revenues,Expenses and Changes In Net Assets Trend Report For the Period Ending April 30,2014 I TOTAL Oct Nov Dec Jan Feb Mar Apr Actual Thru Adopted Account Description Actual Actual Actual Actual Actual Actual Actual 413012014 Budget Oneratina Revenues. Interest-Investments $ 20 $ 18 $ 18 $ 18 $ 62 $ 75 $ 1 $ 210 $ 578 Water Revenue 2,798 4,406 4,415 4,308 5,191 4,998 4,954 31,071 45,000 Sewer Revenue 3,738 5,432 6,577 6,783 8,297 7,756 7,859 46,442 70,000 Irrigation Fees 4,527 7,803 10,340 9,333 8,499 7,773 8,738 57,012 100,000 Meter Fees - - - - 1,250 - 1,250 2,500 Net Incr(Decr)In FMV-Invest 153 288 (41) 192 20 80 - 693 - Special Assmnts-Tax Corrector 9,033 305,734 246,457 80,860 8,986 115,575 34,156 800,801 1,135,025 Special Assmnts-Discounts (476) (12,188) (9,608) (2,025) (134) (127) 169 (24,389) (45,401) Other Miscellaneous Revenues 525 1,617 435 4,486 526 325 485 8,399 - Total Operating Revenues 20,318 313,110 258,593 103,955 32,897 136,455 57,612 922,739 1,305,202 Operating Expenses perponnel end Ad Instrallan. PIR-Board of Supervisors 500 500 500 500 500 500 500 3,500 7,000 FICA Taxes 38 38 38 38 38 38 38 268 536 ProfServ-Engineering - 1,510 2,018 4,034 4,365 500 1,174 13,601 26,000 ProfServ-Legal Services • 1,427 339 197 1,623 2,925 2,216 8,727 12,500 ' ProfServ-Mgmt Consulting Sery 2,445 2,445 2,445 2,445 2,445 2,445 2,445 17,113 29,336 ProfServ-Property Appraiser 17,025 - - - - - - 17,025 17,025 ProfServSpecial Assessment - - 8,122 - - 8,122 8,122 Auditing Services - - - - - - - - 3,750 Communication-Telephone - - • - 100 Postage and Freight 6 245 5 141 5 83 134 619 1,200 Rental-Meeting Room 25 25 25 25 25 25 25 175 350 Insurance-General Liability 1,921 - - 1,921 - - 2,227 6,068 9,028 Printing and Binding 60 67 129 - 81 150 487 1,300 Legal Advertising 104 76 304 177 - - - 661 1,000 Miscellaneous Services 15 182 100 197 31 72 127 723 2,600 Misc-Assessmnt Collection Cost 171 5.871 4,737 1,577 177 2,309 687 15,528 22,701 Office Supplies 26 - - 25 - 25 25 100 500 Total Personnel and Administration 22,336 12,386 10,511 19,528 9,209 9,003 9,748 92,717 143,048 Water-Sewer Comb Services Contracts-Mgmt Services 25,794 25,794 25,794 25,794 25,794 25,794 25,794 180,561 309,533 Contracts-Other Services - - - - - 1,750 1,750 1,750 Communication-Teleph-Field 901 320 297 312 298 258 362 2,748 4,512 Utility-General 6,266 6,906 7,360 7,300 7,303 7,481 7,761 50,377 83,000 R&M-Irrigation - 1,999 7,394 2,605 4,788 5,007 539 22,331 20,500 R&M-Water Plant 7,902 1,745 2,666 (3,593) - 1,139 1,639 11,498 14,000 R&M-Waste Water Plant 7 2,167 476 2,135 1,823 789 4,480 11,876 45,000 Misc-Bad Debt - - - - 99 - - 99 - Misc-Licenses&Permits • • 6,375 - • - - 6,375 4,500 9 Report Date:5/2/2014 PORT OF THE ISLANDS Community Improvement District Water And Seer Fund Statement of Revenues,Expenses and Changes In Net Assets Trend Report For the Period Ending April 30,2014 TOTAL 1 Oct Nov Dec Jan Feb Mar Apr Actual Thru Adopted Account Description Actual Actual Actual Actual Actual Actual Actual 4/3012014 Budget Cap Outlay-Water Plant - - - • 25,200 - 34,532 59,732 4,000 Cap Outlay-Waste Water Plant - - - - - - • 20,000 Total Water-Sewer Comb Services 40,870 38,931 50,362 34,553 65,305 40,468 76,857 347,347 506,795 petit Service Principal Debt Retirement - - - - - - - - 514,758 Interest Expense - 11,717 - - - - - 11,717 140,601 Total Debt Service - 11717 - • - - - 11,717 655,359 Total Operating Expenses 63,206 63,034 60,873 54,081 74,514 49,471 86,605 451,781 1,305,202 Operating income(loss) (42,888) 250,076 197,720 49,874 (41,817) 86,984 (28,993) 470,958 Other Financing Sources IUses1 Interfund Transfer-In 368,000 - - • 368,000 368,000 Total Financing Sources(Uses) 368,000 • • - - 368,000 368,000 Change In net assets $ 325,112 $ 250,076 $ 197,720 $ 49,874 $ (41,817) $ 86,984 $ (28,993) $ 838,958 $ 368,000 TOTAL NET ASSETS,BEGINNING(OCT 1,2013) 7,494,536 7,494,536 TOTAL NET ASSETS,ENDING $8,333,494 $7,862,536 Report Date:5/2/2014 10 Port of the Islands Community Improvement District Supporting Schedules April 30, 2014 O M -N O O 2 8 8 8V M Q N V. 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( / E tE o 1M .7 ? -7- .7 } ƒ 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 2014 ALLOCATION BY FUND DISCOUNT! GROSS DATE NET AMOUNT (PENALTIES) COLLECTION AMOUNT GENERAL WATER/SEINER RECEIVED RECEIVED AMOUNT COSTS RECEIVED FUND FUND Assessments Levied FY 2014 $ 1,570,427 $ 435,400 $ 1,135,026 Allocation% 100% 28% 72% 10/30/13 $ 11,603 $ 659 $ 237 $ 12,499 $ 3,465 5 9,033 11/15/13 $ 124,808 $ 5,298 $ 2,543 $ 132,449 $ 36,721 5 95,728 11/27/13 $ 273,420 5 11,565 $ 5,580 $ 290,566 $ 80,559 5 210,006 12/13/13 $ 296,309 $ 12,520 $ 6,047 $ 314,876 $ 87,299 5 227,577 12127/13 $ 24,843 $ 774 $ 507 $ 26,124 $ 7,243 5 18,881 01/30/14 $ 106,894 $ 2,802 $ 2,182 $ 111,878 $ 31,018 5 80,860 02/27/14 $ 12,003 $ 185 $ 245 $ 12,433 $ 3,447 S 8,986 03/28/14 $ 156,539 $ 176 $ 3,195 $ 159,910 $ 44,335 5 115,575 04/30/14 $ 46,542 $ (234) $ 950 5 47,258 $ 13,102 3 34,156 TOTAL $ 1,052,761 $ 33,745 $ 21,485 $ 1,107,991 $ 307,190 $ 800,801 %Collected 70.55% 70.55% 70.55% TOTAL OUTSTANDING $ 462,435 I$ 128,210 I$ 334,225 I 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 FY 2013 1058920500 POI Hotel 119,638 bankruptcy Total Delinquent Parcels 478,530 Report[late:5/1/2014 14 PORT OF THE ISLANDS Community Improvement District Series 2010 Special Assessment Revenue Bond 1.Recap of Capital Project Fund Activity Through April 30,2014 Bond Issued(Construction Account) $ 5,500,000 Source of Funds:Interest Earned $ 8,432 Use of Funds: COI $ (42,700) COI(costs transferred to checking account but not yet paid) $ (5,000) Disbursemeftter Treatment Plant $ (5,333,694) $ (5,381,394) Adjusted Balance In Construction Account April 30,2014 $ 127,038 2.Funds Available For Construction at April 30,2014 Book Balance of Construction Account at April 30,2014 $ 127,038 Construction Funds available at April 30,2014 $ 127,038 3.Investments-BBBT at April 30,2014 Estimated Tyne Yield Principal Construction Fund: 0.12% $ 127,038 ADJ:Outstanding Amounts Due $ Balance at April 30,2014 $ 127,038 4. General Bond Information Issued: 2010 Matures: 2020 Bond Interest Rate: 3.51% FY 2014 budgeted bond payment as%of total assessments: 57% Report Date:5/2/2014 15 PORT OF THE ISLANDS Community Improvement District Construction Schedule i AMOUNT OF I CAPITAL WATER TREATMENT REQ.# DATE CONTRACTOR 1 REQUISITION 1 OUTLAY • Col PLANT COI 10/20/10 Greenberg Traurig $ 10,000 $ - $ 10,000 $ COI 10/20/10 BB&T 2,700 2,700 COI 10/20/10 Severn Trent Management Svcs 15,000 15,000 COI 11/02/10 Dan Cox 15,000 15,000 1 11/09/10 Port of the Islands CID(reimb) 321,537 321,537 321,537 2 11/18/10 South Florida Excavation 26,504 26,504 26,504 3 11/24/10 Naples Daily News 151 151 151 4 01/04/11 Century Link 26,311 26,311 26,311 5 12/16/10 South Florida Excavation 18,009 18,009 18,009 6 02/01/11 Hole Montes 2,561 2,561 2,561 7 02/01/11 Hole Montes 16,200 16,200 16,200 8 02/01/11 Hole Montes 13,207 13,207 13,207 9 02/10/11 Benchmark EnviroAnalytical, Inc. 1,019 1,019 1,019 10 02/17/11 Hole Montes 1,983 1,983 1,983 11 03/07/11 Hole Montes 6,250 6,250 6,250 12 03/16/11 South Florida Excavation 12,762 12,762 12,762 13 03/29/11 Cardinal Contractors 27,000 27,000 27,000 14 04/06/11 Hole Montes 13,850 13,850 13,850 15 05/05/11 South Florida Excavation 18,587 18,587 18,587 16 05/16/11 Cardinal Contractors 95,029 95,029 95,029 17 05/19/11 Hole Montes 39,565 39,565 39,565 18 06/14/11 KW Controls 1,039 1,039 1,039 19 06/14/11 Cardinal Contractors 196,572 196,572 196,572 20 07/06/11 Hole Montes 19,575 19,575 19,575 21 07/22/11 Cardinal Contractors 170,192 170,192 170,192 22 07/27/11 Hole Montes 22,325 22,325 22,325 23 08/19/11 Cardinal Contractors 156,353 156,353 156,353 24 08/30/11 Hole Montes 19,700 19,700 19,700 25 09/16/11 South Florida Excavation 6,971 6,971 6,971 26 09/16/11 South Florida Excavation 4,602 4,602 4,602 27 09/16/11 Cardinal Contractors 278,893 278,893 278,893 28 09/27/11 Michael Evans Computers 3,255 3,255 3,255 29 10/17/11 Cardinal Contractors 85,416 85,416 85,416 30 11/03/11 Hole Montes 833 833 833 31 11/03/11 Hole Montes 43,975 43,975 43,975 33 11/23/11 KW Controls 24,337 24,337 24,337 Total FY 2011 $ 1,717,261 $ 1,674,561 $ 42,700 $ 1,674,561 32 11/14/11 Cardinal Contractors $ 266,314 $ 266,314 $ $ 266,314 34 12/15/11 South Florida Excavation 4,602 4,602 4,602 35 12/15/11 BCI Technologies 7,121 7,121 7,121 36 12/15/11 ITT Water Equipment Tech 586,767 586,767 586,767 37 12/16/11 Cardinal Contractors 647,523 647,523 647,523 38 12/30/11 Hole Montes 43,673 43,673 43,673 39 01/24/12 Hole Montes 25,610 25,610 25,610 40 01/24/12 Cardinal Contractors 174,823 174,823 174,823 41 01/30/12 KW Controls 73,011 73,011 73,011 42 02/24/12 Cardinal Contractors 240,416 240,416 240,416 43 03/15/12 Cardinal Contractors 246,740 246,740 246,740 44 04/05/12 Hole Montes 48,232 48,232 48,232 45 04/23/12 Cardinal Contractors 89,577 89,577 89,577 46 05/09/12 ITT Water Equipment Tech 30,578 30,578 30,578 47 05/16/12 Cardinal Contractors 62,629 62,629 62,629 48 05/17/12 KW Controls 12,169 12,169 12,169 49 06/12/12 Hole Montes 65,277 65,277 65,277 50 06/12/12 Severn Trent Environmental Svcs 9,027 9,027 9,027 Report Date:5/2/2014 16 PORT OF THE ISLANDS Community Improvement District Construction Schedule AMOUNT OF I CAPITAL WATER TREATMENT REQ.it DATE CONTRACTOR REQUISITION OUTLAY COI PLANT 51 06/12/12 BCI Technologies 20,000 20,000 20,000 52 06/13/12 Cardinal Contractors 207,112 207,112 207,112 53 06/29/12 Soto's Lawn Service,Inc. 19,680 19,680 19,680 54 07/18/12 Cardinal Contractors 13,633 13,633 13,633 55 07/25/12 W E.Johnson Equipment 33,088 33,088 33,088 56 08/03/12 Hole Monies 49,982 49,982 49,982 57 09/04/12 Severn Trent Environmental Svcs 3,045 3,045 3,045 58 09/04/12 Cardinal Contractors 195,290 195,290 195,290 59 09/19/12 Hole Monies 21,350 21,350 21,350 60 09/19/12 BCI Technologies 33,279 33,279 33,279 61 09/19/12 Cardinal Contractors 52,400 52,400 52,400 Total FY 2012 $ 3,282,946 $ 3,282,946 $ $ 3,282,946 62 10/16/12 RMA Geological Consultants $ 5,990 $ 5,990 $ . $ 5,990 63 10/16/12 Cardinal Contractors 151,859 151,859 151,859 64 11/01/12 Hole Montes 10,027 10,027 10,027 65 12/11/12 Severn Trent 48,567 48,567 48,567 66 01/09/13 RMA Geological Consultants 9,170 9,170 9,170 67 01/17/13 Hole Montes 8,138 8,138 8,138 68 01/17/13 RMA Geological Consultants 16,746 16,746 16,746 69 01/17/13 Severn Trent 1,569 1,569 1,569 70 02/05/13 Cardinal Contractors 26,705 26,705 26,705 71 02/05/13 KW Controls 12,169 12,169 12,169 72 02/05/13 Hole Montes 2,533 2,533 2,533 73 02/21/13 KW Controls 12,169 12,169 12,169 74 04/23/13 RMA Geological Consultants 1,600 1,600 1,600 75 10/11/13 Xylem 43,747 43,747 43,747 76 02/25/14 Xylem 25,200 25,200 25,200 r- Total FY 2013 $ 376,187 $ 376,187 $ - $ 376,167 1 Total FY 2014 -T"--- - $ - $ - $ - I Grand Total . $ 5,376,394 $ 5,333.694 $ 42,700 $ 5.333,694 Interest FY 2011 Interest $ 5,744 FY 2012 Interest 2,291 FY 2013 Interest 303 FY 2014 Interest 93 $ 8,432 Report Date,5/2/2014 17 PORT OF THE ISLANDS Community Improvement District All Funds Capital Improvement Program-Status Report Updated thru 4/30/14 ROADS PROGRAM PROJECT PAID N0. FY 2014 PAID IN FY PROJECT PROJECT NAME OR DESCRIPTION ESTIMATE()) 20141�1 INCEPTION TO FY 2015 FY 2018 FY 2017 FY 2016 STATUS DATE 171 7r+" �* s>+ ♦rte, ,� 8v;', Ye - R•3 ,d�,U„ st SIQO.r $ :20,.“ $ $ - - $ $ $ m- ' 777 ,-1". -m-,.' .m.....'-7 . , ' ' 1 0086,100 •-$ 25,000 $ '._ $ - - . ',- ''.. $ $ 'I Total General Fund $ 50,000 $ - $ S $ $ $ IRRIGATION PROGRAM I 1-9 -vrtt for 75hp pump $ $ $ $ - $ - $ $ -t Sr-tabled Total Irrigation Program $ • $ - $ $ $ -) $ - S -( WATER PROGRAM W-14A Construction of New Water Treatment Plant $ 25,200 S 25,200 S 4,409,326 $ - $ • S - $ - HM Project W-14B Inspection of New Water Treatment Plant $ • $ - $ 440.894 $ - $ - $ - $ - HM Project New water meter replacement program to Include backflow prevention (Replace+1-20%per year W-15 for 4 years) $ 55,129 $ 34,532 $ 230,097 $ - $ . $ - S ST project W-19 Video surveillance and monitoring $ - $ - $ - $ $ 10,000 $ - $ - ST project W-20 Spare parts $ - $ - $ - $ - $ 5 $ - ST project W-22 Fire hydrant repair and replacement $ 4,000 $ - $ 3,090 $ • S $ - $ - ST project Total Water Program $ 84,329 $ 59,732 $ 5,083,406 $ - $ 10,000 $ $ - WASTEWATER PROGRAM combined WW-23 SCADA and control panel for lift stations 5 - I$ 77,137 $ 30.796 5 30,796 $ 30,796 El wANW-26 rirr. • V V. 'em.ranes 'r,.,. _ -•'1!J0133'"5 r,:r.liallinntaalliMUMM o: +astewater Program NOTE(I):The amounts shown in the'FY 2014 ESTIMATE'columns reflect the most recent approximation of what the District expects to spend on each project between October 1,2013 and September 30,2014. NOTE 121: The amounts shown in the'PAID IN FY 2014'column reflects project expenses incurred between October 1,2013 and September 30,2014. The total of these columns will tie to the amounts reported as'Year to Date Actual-Capital Outlay'in the corresponding monthly financial statements NOTE(31: The'PAID INCEPTION TO DATE'columns reflect any payments made between FY 2006 and present Report Cute:5/2/2014 _... 18 PORT OF THE ISLANDS Community Improvement District All Funds Capital Improvement Program-Status Report Completed Projects Project No.I Project Name or Description I Project Total(Completion) Comments Date I G-1 Collier County Zoning/Fire Station Property $ 22,324 144 c Conflated in FY 2010 G-2 .Collier Variance Petition-Union Road $ 42,683 ' Completed in FY 2011 1 R1&2 1Road resurfacing and repair j $ 473,138T.103009A Completed in FY 2007 1-1 Irrigation&Fire Control Panel Upgrade $ 54,621 • :++ Completed in FY 2008 1.2 Irrigation Supply Well Project $ 34,765 CurLt-1•- Completed in FY 2009 I-3 Wellfield Mechanical Upgrades 5 218,732 €'-: .�-••:'. Completed in FY 2009 1-4 3rd well to provide Irrigation water supply $ 287,793 �,;r:,,..'j Completed in FY 2010 1-5 Wellfield SCADA $ 27,587 34112010 Completed in FY 2010 1-6 Electrical Upgrades for Wellfield and WWTP Generator $ 247,386 LS:•„•,"•. Completed in FY 2010 I-7 Canal PS Modifications $ 4,269 11 i Completed in FY 2010 1-10 Wellhead Retrofitting $ 11,615 + Completed in FY 2012 I-11 Well Monitoring $ 16,746 •f• J Completed in FY 2013 1-12 Pump Retrofitting 5 10,770 "+ "s- Completed In FY 2013 W-2 Water Treatment Plant-replace transfer pumps $ 9,887 ' r ++. Completed in FY 2008 W-4 Water Treatment Plant-repairs to building(roof,doors,windows,painting) $ 14,050 • ••®e Completed in FY 2008 W-5 Water Treatment Plant_replace metal launders and walkways on softening unit&other repairs$ 56,877 1013112'" Completed in FY 2009 W-6 Water Treatment Plant-replace gaseous them storage/feed sys(chlorine)w/liquid them(bleach) $ 36,088 .®..-++ Completed in FY 2009 W-7 Water Treatment Plant-air condition room that houses compliance monitoring equipment $ 3,901 -° +5 Completed in FY 2008 W-13 Water Treatment Plant-design new WTP $ 488,8441-. Completed In FY 2011 W-14A Water Treatment Plant-New Construction $ 115,883 81201- Completed in FY 2013 W-148 Water Treatment Plant-Inspection of new construction $ 10,671 '+ • Completed in FY 2013 W-15 Water Treatment Plant-New meter replacement program(with backflow prevention) 5 1,112,380 ',, ■ Completed in FY 2011/2012 W-15 Water Treatment Plant-New meter replacement program(with backflow prevention) $ 42,924 z, 1: Completed in FY 2013 W-17 SCADA $ 223,093 1811;,!1.: Completed in FY 2009 W-23 Slormwaler Rention Ponds $ 110,776 l Completed In FY 2011/2012 W23a Disinfection Conversion-free chlorine to chloramines $ 11,427 • ia,° Corn•leled In FY 2009 Wastewater Treatment Plant-two new mixers $ 18,810 '.1tver® ,i.: Com•leted in FY 2008 WW 8 -- - - -•• --r. - - •. $ 111,973 6/31/,2•,: Corn feted in FY 2008 Wastewater Treatment Plant-replace gaseous chem storage/feed systems(chlorine and sulfur WW-10 dioxide)w/li•uid chem bleach and sodium thiosulfate $ 36,088 ••' Co •leted in FY 2009 WW-13A Reuse Slora•e Tank $ 585,299 + + + Com•leted in FY 2010 W W-13B Automation of reuse waters stem and su••lemental water 11111111=NPME Com•leted in FY 2010 WW-18 DynaLift MBR Membrane S stem $ 1.112.360 • •• Com•leted in FY 2011 Electrical service u5•rades at WWTP $ 231,100 ,.4+:Y-!•; Completed in FY 2009 WW-20 New WWTP Generator S 110.778 111eriiii i Com•leted in FY 2009 WW-23 SCADA and control•anal for lift stations $ 77,137 °$•,ri•SFi Com•leted In FY 2012 Report Date.5/2/2014 19 • PORT OF THE ISLANDS Community Improvement District General Fund Cash Flow Projections MAY JUN JUL AUG SEP 2014 2014 2014 2014 2014 Cash Beginning Balance $ 775,276 $ 779,531 $ 651,959 $821,443 $ 793,411 Cash Inflow 180 128,390 180 180 180 Cash Outflow (31,712) (55,963) (30,695) (28,212) (53,924) CD Investment - Add:Prepaid Items - Add: Due from WS Fund 54,504 - - - Less:Current Liabilities(as of 4/30/14) (18,717) - - - Total Estimated Cash Balance WITHOUT collection from Motwani $ 779,531 $ 851,959 $ 821,443 $793,411 $ 739,867 Total Estimated Cash Balance WITH collection from Motwani $ 903,222 $ 975,650 $ 945,134 $917,102 $ 863,358 Cash Receipts Special Assessments-Levy $ • $ 128,210 $ - $ $ Special Assessments-Discount , - . Interest 180 180 180 180 180 Total Cash Inflow $ 180 $ 128,390 $ 180 $ 180 $ 180 Operating Expenditures Administrative P/R-Board of Supervisors $ 500 $ 500 $ 1,000 $ 500 $ 1,000 FICA Taxes 38 38 77 38 77 ProfServ-Engineering 1,943 1,943 1,943 1,943 1,943 ProfServ-Legal Services 1,247 1,247 1,247 1,247 1,247 ProfServ-Mgmt Consulting Sery 2,435 2,435 2,435 2,435 2,435 ProfServ-Property Appraiser ProfServ-Special Assessment - - Annual Audit 3,500 - - Telephone - - - Postage and Freight 81 81 81 81 81 Rental-Meeting Room 25 25 50 25 50 Insurance-General Liability - - 1.921 - - Printing&Binding 139 139 139 139 139 Legal Advertising 70 70 70 70 70 Miscellaneous Services 31 31 31 31 31 Misc.-Assessmnt Collection Cost - 2,751 - - Misc.-Web Hosting 71 71 71 71 220 Office Supplies 14 14 14 14 14 Annual District Filing Fee - - Total Administrative $ 10,094 $ 9,345 $ 9,077 $ 6,594 $ 7,306 Maintenance Contracts-Mgmt Services $ 8,333 $ 8,333 $ 8,333 $ 8,333 $ 8,333 Contracts-Landscape 6,902 6,902 6,902 6,902 6,902 Electricity-Streetlighting 1,300 1,300 1,300 1,300 1,300 Utility-Irrigation 1,359 1,359 1,359 1,359 1,359 R&M-Renewal&Replacement 3,063 3,063 3,063 3,063 3,063 R&M-Roads 460 460 460 460 460 R&M-Signage 200 200 200 200 200 CIP* - 25,000 - - 25,000 Total Maintenance $ 21,618 $ 46,618 $ 21,618 $ 21,618 $ 46,618 Total Cash Outflow $ 31,712 $ 55,963 $ 30,695 $ 28,212 $ 53,924 'NOTES: Estimated CIP costs for the anticipated projects are shown quarterly. Report Lbte:5/2/2014 20 PORT OF THE ISLANDS Community Improvement District Water and Sewer Fund Cash Flow Projections MAY JUN JUL AUG SEP 2014 2014 2014 2014 2014 Cash Beginning Balance 5 34,358 $(106,554) $ 171,005 $ 141,329 $ 114,137 Cash Inflow 19,248 353,472 19,248 19,248 19,248 Cash Outflow-Expenses (634,999) (75,912) (48,924) (48,440) (69,303) Add:Prepaid Items 585,059 - - Less:Due to General Fund (54,504) - Less:Current Liabilities(as of 4/30/14) (55,716) - - - Total Estimated Cash Balance WITHOUT collection from Motwanl $ (106,554) $ 171,005 $ 141,329 $ 114,137 $ 64,082 Total Estimated Cash Balance WITH collection from Motwani $ 248,284 $ 525,843 $ 496,167 $ 488,975 $ 418,920 Cash Receipts Special Assessments-Levy $ - $ 334,224 $ - 5 - $ Special Assessments-Discount - - - Water/Sewer/Irrigation Revenue 19,218 19,218 19,218 19,218 19,218 Interest/Miscellaneous 30 30 30 30 30 Total Cash Inflow $ 19,248 $ 353,472 $ 19,248 $ 19,248 $ 19,248 Operating Expenditures Administrative P/R-Board of Supervisors $ 500 $ 500 $ 1,000 $ 500 $ 1,000 FICA Taxes 38 38 77 38 77 ProfServ-Engineering 1,943 1,943 1,943 1,943 1,943 ProfServ-Legal Services 1,247 1,247 1,247 1,247 1,247 Prof Serv-Mgmt Consulting Sery 2,445 2,445 2,445 2,445 2,445 ProfServ-Property Appraiser - - - - ProfServ-Special Assessments - - Annual Audit 3,500 . .. - Telephone - - Postage and Freight 88 88 88 88 88 Rental-Meeting Room 25 25 50 25 50 Insurance-General Liability - - 1,921 - - Pnnting&Binding 139 139 139 139 139 Legal Advertising 70 70 70 70 70 Miscellaneous Services 103 103 103 103 103 Misc-Assessmnt Collection Cost - 7,173 - - Office Supplies 14 14 14 14 14 Total Administrative $ 10,113 $ 13,788 $ 9,097 $ 8,813 $ 7,178 Maintenance Contracts-Mgml Services $ 25,794 $ 25,794 $ 25,794 $ 25,794 $ 25,794 Contracts-Other Services - - • Communication-Teleph-Field 307 307 307 307 307 Utility-General 7,197 7,197 7,197 7,197 7,197 R&M-Irrigation 3,190 3,190 3,190 3,190 3,190 R&M-Water Plant 1,843 1,843 1,843 1,843 1,843 R&M-Waste Water Plant 1,697 1,697 1,697 1,697 1,697 Misc.-Licenses&Permits _ CIP' - 22,299 - 22,299 Total Maintenance 5 38,827 $ 62,126 5 39,827 $ 39,827 5 62,128 Debt Service Principal and Interest $ 585,059 $ - $ $ - $ - Total Debt Service $ 585,059 $ - $ - $ - $ - Total Cash Outflow $ 534,999 $ 75,912 $ 48,924 $ 46,440 $ 69,303 'NOTES. Estimated CIP costs for the anticipated projects are shown quarterly. Report Bate:5/2/2014 21 PORT OF THE ISLANDS Community Improvement District All Funds Cash Flow Projections-5 Year GENERAL FUND ADOPTED PROPOSED PROPOSED PROPOSED PROPOSED FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 Operating Revenues Assessments(Net) $417,984 $413,026 $413,026 $413,026 $413,026 Delinquent Assessments $123,691 $0 $0 $0 $0 Interest/Miscellaneous $2,090 $2,151 $2,158 $2,127 $2,064 Total Operating Revenues $543,765 $415,177 $415,184 $415,153 $415,090 Operating Expenditures Administrative $119,794 $121,347 $124,987 $128,737 $132,599 Maintenance $250,280 $293,830 $302,645 $311,724 $321,078 Total Operating Expenditures $370,074 $415,177 $427,632 $440,461 $453,675 Capital Expenditures CIP Projects $50,000 $0 $0 $0 $0 Total Capital Expenditures $50,000 $0 $0 $0 $0 Estimated Beginning Cash Balance $863,358 $863,358 $850,911 $825,603 (Estimated Ending Cash Balance* $ 863,358 $863,358 $850,911 $825,603 $787,017 WATER AND SEWER ENTERPRISE FUND ADOPTED PROPOSED PROPOSED PROPOSED PROPOSED FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 ....... ...... ... Operating Revenues Assessments(Net) $1,089,624 $1,120,916 $1,120,918 $1,120,918 $1,120,918 Delinquent Assessments $354,838 $0 $0 $0 $0 Water/Sewer/Irrigation Revenue $215,000 $210,000 $210,000 $210,000 $210,000 Interest/Miscellaneous $578 $295 $419 $409 $429 Total Operating Revenues $1,860,040 $1,331,213 $1,331,337 $1,331,327 $1,331,347 Operating Expenditures Administrative $143,047 $145,885 $145,885 $145,885 $145,885 Maintenance $482,795 $479,170 $479,170 $479,170 $479,170 Total Operating Expenditures $625,842 $825,055 $625,055 $625,055 $625,055 Capital Expenditures CIP Projects $24,000 $50,796 $60,796 $30,796 $0 Total Capital Expenditures $24,000 $50,796 $60,796 $30,796 $0 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 Beginning Cash Balance $418,920 $418,923 $409,049 $429,165 1Estimated Ending Cash Balance* $ 418,920 $418,923 $409,049 $429,165 $480,098 I 'Note:Estimated FY14 ending cash balance includes amounts due from Hotel parcel. 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O C so ct N e� ffi (p 8 ct m Q ct 6 G ciQ. 5 n 44tly s o ''''''''' 4,1 ' it..,, '11,-,..istrol. ,g- # i:. ,.., Y a as cu fil'!1:1 )7"j:*-',.'.,., i r '';.- I I Q. joili C rra e '.. 88 O 4 N a. o CD • k/d O w w c�a N 8 re cu Q2 wz E a P'¢ v N ~ p a 1 (s1 e � �jZ 1 a L � QO es ° d Q U� & a o F- u $N wE i5 � v)$z A � Ca J i R ° v = pze g -g 5 c t* '' I z s • s g z ;; 5 _0- d$ m u mrnLLmwJ7 2 i?❑. a 0 m 0 o 0 a 4 3 E N z c%( cu i -,4, . , , wil.f.42 „ g. C s GU fa 0 t i = CU 0 fir, r 3 0 ca ra cd E a Z " o ap v li 1 A '}‘,. 441 . k , ',:'*'-‘,4 I ri r �'�.� s 3' / S O S N Cn g O C] N L O U U lip lit! 0 a --� JENNIFER J. EDWARDS S • SUPERVISOR OF ELECTIONS April 16,2014 Ms Rosemary Hodza, Port Of The Islands CID Severn-Trent Services 210 N. Univeristy Drive Suite 702 Coral Springs, FL 33071 Dear Ms Hodza, In compliance with Chapter 190.06 Florida Statutes this notice is to inform you that the official records of the Collier County Supervisor of Elections indicate 477 registered voters residing in the Port Of The Islands CID as of April 15,2014. Should you have questions regarding election services for the district please feel free to contact our Office. Sincerely, (06,-"J 11" '.°" - 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 Trl E I. \ Naples FL 34112-5758 Telephone:239/252-8450• Fax: 239/774-9468 in 0 \ 0. _ . m o g7 Cs/ : / . k \ 0 § - ■ ; = 2 9 11-'3 # } : :la 7 .0 a 0 0 k 8 3 J o 3 £ 2 ] c [ . a) 7 / ) f ) £ ca « e § 'F) 6) ; o 2 Ce u ) ) )k & Q / < I 2 F] I] Li E / /� ƒ 0 / - ) J k re ) co ® . . 0 ©� 0(0 0 ®y $ f $ 7 i 22 » 3 e f / £ [ 0 ƒ . & ,— A a/(\ . $ � . . : § t « -mee $ } j C $ }- �4 R \ ) )sa § , \ E » § $ 2 ?\ d f kd0/ § 2 r I u 7 [3 w C.) .47) = B 2cg'Fa @ \ cv 0 - „ /)\k 7 ) § \ ® / \\ kƒ - D /gig% E § c a §�R 2 m \ ° E ( §_ 2 UAt,0 \ °0 O 7 ] § k O �k7k ° VI § ` � % )§ ;) }# m ' j c 7 m \§ j / 6 cw > - ` » E § eo E W ) �� 0 { .0 ` f °°c- 3 ■ k� ) U .- ® fi f ) \ R )22 § % ) Ec 9 ) / _ E § « 2�\) ® ) 22 \ k o � � \\ £ r \ C k { § & 2) a ) \ƒ \ I ) ;3 co G / 7 7 cC M N O a 3 a' N D N Y O$ r a) O c0 < O o a ° N f Ol OT 0. a E3 s • mQ� Cyr a M SaD M An 11J N N N N tC� a G e' M r a; C m C A E d a. 8 a 1 _ m m n a> c a m w cn 10 04 al cu a N D M u c - a c a _ a N Q_ . 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T f- +r r+ C O a) co' O 0. 0 a O U v w Port of the Islands Community Improvement District ANNUAL FINANCIAL REPORT September 30, 2013 Port of the Islands Community Improvement District ANNUAL FINANCIAL REPORT Fiscal Year Ended September 30, 2013 TABLE OF CONTENTS, Page Number 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 Position 9 Statement of Activities 10 Fund Financial Statements Balance Sheet—General Fund 11 Reconciliation of Total General Fund Balances to Net Position 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 Position—Water& Sewer Fund 16 Statement of Revenues, Expenses and Changes in Fund Net Position—Water& Sewer Fund 17 Statement of Cash Flows—Water& Sewer Fund 18 Notes to Financial Statements 19-32 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 33-34 MANAGEMENT LETTER 35-36 ccec 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 REPORT OF INDEPENDENT AUDITORS To the Board of Supervisors Port of the Islands Community Improvement District Collier County, Florida Report on the Financial Statements We have audited the accompanying basic financial statements of Port of the Islands Community Improvement District as of and for the year ended September 30, 2013, as listed in the table of contents. Management's Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor's Responsibility Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Fort Pierce/Stuart Member AICPA Member AICPR Division For CPA Firms Member FICPA Private Companies Practice Section eet2 Berger, Toombs, Elam, Ccy Gaines & Frank To the Board of Supervisors Port of the Islands Community Improvement District Opinion In our opinion, the basic financial statements referred to above present fairly, in all material respects, the financial position of the governmental activities, the business-type activities, the aggregate remaining fund information and each major fund of Port of the Islands Community Improvement District as of September 30, 2013, and the respective changes in financial position 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. Emphasis of Matter As discussed in Note K to the financial statements, bond issuance costs were expensed as of October 1, 2012 and net position was restated in accordance with Port of the Islands Community Improvement District's implementation of Governmental Accounting Standards Board Statement No. 65. Our opinion is not modified with respect to this matter. Other Matters Management's Discussion and Analysis 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 inquiries 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. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued a report dated April 29, 2014 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. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering Port of the Islands Community Improvement District's internal control over financial reporting and compliance. daft h }�..,t4„&de.... Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants PL Fort Pierce, Florida April 29, 2014 - 2 - • Port of the Islands Community Improvement District MANAGEMENT'S DISCUSSION AND ANALYSIS For the Year Ended September 30, 2013 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) Government-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 position and the statement of activities. These statements use accounting methods similar to those used by private-sector companies. Emphasis is placed on the net position of governmental activities and business-type activities and the change in net position. 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 position presents information on all assets and liabilities of the District, with the difference between assets and liabilities reported as net position. Net position are reported in three categories; 1) invested in capital assets, net of related debt, 2) restricted and 3) unrestricted. Assets, liabilities, and net position are reported for all Governmental activities separate from the assets, liabilities, and net position of business-type activities. The statement of activities presents information on all revenues and expenses of the District and the change in net position. 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, 2013 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 position, a statement of revenues, expenses, and changes in fund net position; 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 government-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 position. All liabilities, including principal outstanding on bond, 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. 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 government- 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 Highlights The following are the highlights of financial activity for the year ended September 30, 2013. ♦ The District's total assets exceeded total liabilities by $9,592,102. Unrestricted net position for Governmental Activities was $1,260,706 and for Business-type activities was $(421,214). Invested in capital assets, net of related debt for Governmental Activities were $836,860 and for Business-type activities were $7,915,750. -4- • Port of the Islands Community Improvement District MANAGEMENT'S DISCUSSION AND ANALYSIS For the Year Ended September 30, 2013 OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED) Financial Highlights (Continued) • Governmental activities revenues totaled $400,191 while governmental activities expenses totaled $388,476. Business-type revenues totaled $1,234,283 while business- type expenses totaled $1,256,672. Financial Analysis of the District The following schedule provides a summary of the assets, liabilities and net position of the District. It is not intended to be a complete presentation of government-wide financial activity. Net Position Governmental Activities Business-type Activities Total 2013 2012 2013 2012 2013 2012 Current assets $ 1,275,358 $ 1,221,535 $ (71,395) $ 392,212 $ 1,203,963 $ 1,613,747 Capital assets,net 836,860 879,493 11,725,588 12,019,801 12,562,448 12,899,294 Other non-current assets Total Assets 2,112,218 2,101,028 11,654,193 12,412,013 13,766,411 14,513,041 Current liabilities 14,652 15,177 668,685 889,358 683,337 904,535 Non-current liabilities - - 3,490,972 4,005,730 3,490,972 4,005,730 Total Liabilities 14,652 15,177 4,159,657 4,895,088 4,174,309 4,910,265 Net Position Investment in capital assets, net related debt 836,860 879,493 7,915,750 8,019,596 * 8,752,610 8,899,089 Unrestricted 1,260,706 1,206,358 (421,214) (502,671) 839,492 703,687 Total Net Position $ 2,097,566 $ 2,085,851 $ 7,494,536 $ 7,516,925 " $ 9,592,102 $ 9,602,776 *Restated(Note K) 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 position. The decrease in current assets for business-type activities is primarily due to the amount due to the general fund and capital activity in the current year paid from the construction fund. The decrease in capital assets for governmental activities and business-type activities is primarily due to depreciation expense in the current year. The decrease in current liabilities for business-type activities is primarily due to a reduction in payables related to construction on capital assets that was completed in the prior year. -5- Port of the Islands Community Improvement District MANAGEMENT'S DISCUSSION AND ANALYSIS For the Year Ended September 30, 2013 OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED) Financial Analysis of the District(Continued) The decrease in non-current liabilities for business-type activities is primarily due to principal payments on bonds in the current year. The following schedule provides a summary of the changes in net position 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. Financial Activity Governmental Activities Business-type Activities Total 2013 2012 2013 2012 2013 2012 Program Revenues Charges for services $ 393,680 $ 391,027 $ 1,224,109 $ 1,208,042 $ 1,617,789 $ 1,599,069 General Revenues Investment earnings 4,936 8,508 3,279 9,121 8,215 17,629 Miscellaneous 1,575 - 6,895 5,045 8,470 5,045 Total Revenues 400,191 399,535 1,234,283 1,222,208 1,634,474 1,621,743 Expenses General government 119,065 132,064 - 119,065 132,064 Physical environment 269,411 271,700 - - 269,411 271,700 Water and sewer - - 1,256,672 1,313,858 * 1,256,672 1,313,858 Total Expenses 388,476 403,764 1,256,672 1,313,858 1,645,148 1,717,622 Change in Net Position 11,715 (4,229) (22,389) (91,650) (10,674) (95,879) Net Position- Beginning of Year 2,085,851 2,090,080 7,516,925 " 7,608,575 " 9,602,776 9,698,655 Net Position- End of Year $ 2,097,566 $ 2,085,851 $ 7,494,536 $ 7,516,925 * $ 9,592,102 $ 9,602,776 •Restated(Note K) The decrease in general government expenses is primarily due to a decrease in engineering and legal fees. The decrease in water and sewer expenses is primarily related to the loss on disposal of capital assets in the prior year recorded as an expense. - 6 - Port of the Islands Community Improvement District MANAGEMENT'S DISCUSSION AND ANALYSIS For the Year Ended September 30, 2013 OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED) Capital Assets Activity The following schedule provides a summary of the District's capital assets at September 30, 2013. 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 15,409,143 16,722,754 Equipment 15,613 226,308 241,921 Construction in progress 3,090 3,090 Less: accumulated depreciation (830,682) (4,206,014) (5,036,696) Total Capital Assets (Net) $ 836,860 $ 11,725,588 $ 12,562,448 During the year, depreciation expense was $42,633 for governmental activities. Capital assets totaling $202,983 were added, and depreciation expense was $491,204 for business-type activities. General Fund Budgetary Highlights The budget exceeded governmental expenditures primarily because of lower capital outlay expenditures than were expected. There were no amendments to the September 30, 2013 budget. Debt Management 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, 2013 was $4,005,730. - 7 - • Port of the Islands Community Improvement District MANAGEMENT'S DISCUSSION AND ANALYSIS For the Year Ended September 30, 2013 OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED) Economic Factors and Next Year's Budget 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 2014. Request 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 POSITION September 30, 2013 Governmental Business-Type Activities Activities Total ASSETS Current Assets Cash and equivalents $ 771,121 $ 196,405 $ 967,526 Cash restricted for customer deposits - 33,100 33,100 Investments 163,250 13,924 177,174 Accounts receivable 3,840 7,012 10,852 Due from other governments 3,013 7,856 10,869 Prepaid expenses 1,921 2,521 4,442 Internal balances 332,213 (332,213) - Total Current Assets 1,275,358 (71,395) 1,203,963 Non-current Assets Capital assets, not being depreciated Land and improvements 228,197 293,061 521,258 Construction in progress - 3,090 3,090 Capital assets, being depreciated Infrastructure 1,313,611 15,409,143 16,722,754 Improvements other than buildings 110,121 - 110,121 Equipment 15,613 226,308 241,921 Less: accumulated depreciation (830,682) (4,206,014) (5,036,696) Total Non-current Assets 836,860 11,725,588 12,562,448 Total Assets 2,112,218 11,654,193 13,766,411 LIABILITIES Current Liabilities Accounts payable and accrued expenses 14,652 62,243 76,895 Customer deposits payable from restricted assets - 33,100 33,100 Accrued interest - 58,584 58,584 Bonds payable - 514,758 514,758 Total Current Liabilities 14,652 668,685 683,337 Non-current Liabilities Bonds payable - 3,490,972 3,490,972 Total Liabilities 14,652 4,159,657 4,174,309 NET POSITION Invested in capital assets, net of related debt 836,860 7,915,750 8,752,610 Unrestricted 1,260,706 (421,214) 839,492 Total Net Position $ 2,097,566 $ 7,494,536 $ 9,592,102 See accompanying notes to financial statements. -9- _ 0) 00 m 0) e- ° a`"o ti N. 0 to CON N cr') NTt CO CD N- Ch 1.6 N N... a0 00 co- O N of 1-- - 0 0 C 69 69 CO C N 0 d C p Q' ■ r CCDD CO N. C�) N- 0 co co o. m LI) C[) N C�0 I- Cr) 0) U) ce 0 co = M M M CO O N CD 0 Z d > ... 11� NT 0) C C v ti N• ' �( Q C• a) m 69 69 Q. C v W ,_ r_ y 4.., V in COOK N 0) 10 Cn ti 0 U) Q Ch Z E 'tom.' C'7 CA CO. %. CO CA h C C C �> CO 0 m N d v N CV E > co co () Q tn. 69 C.> .0 r - V d y w� N 000OD 0 to � N 3 0 C O � O y O) d m Z N N- 0) N CO m N M r Ez � O- d ry w w a a`3 E rn o w C V 69 d C N z O XI 0 C. yW 1- CCNC c O Q) ,o H : c gc C Q LO �_ CO N 0 a) - O N I r co• I . d a) CO cc N- re a) 1p c O O c 0) 0) co' �6 E — o t 0 0> N 0 N co 0 0 H 0 0 O a q. (� ...-v r r C > N Q. CL o w .. � 2 ZZ 69 E9 c a) o° co E a) a) w > a C E B Q E 0 • W E c• ai > c cot > EEO) = Ur° �= c EE < Eoc D � > ca o . o' c > Q 3 E o N 0 a) a) O a > c 0) O >> a c 13 rn 6E c o c c Ec >, o• cnco o z C E () Oa ~ .N ca ~ E co u. 0. m � o CB a) a) co • Port of the Islands Community Improvement District BALANCE SHEET GENERAL FUND September 30, 2013 ASSETS Cash and equivalents $ 771,121 Investments 163,250 Accounts receivable 3,840 Due from other funds 332,213 Due from other governments 3,013 Prepaid expenses 1,921 Total Assets $ 1,275,358 LIABILITIES AND FUND BALANCES Liabilities: Accounts payable and accrued expenses $ 14,652 Fund Balances: Nonspendable: Investments 7,331 Prepaid expenses 1,921 Assigned - first quarter operations 103,815 Unassigned 1,147,639 Total Fund Balances 1,260,706 Total Liabilities and Fund Balances $ 1,275,358 See accompanying notes to financial statements. - 11 - Port of the Islands Community Improvement District RECONCILIATION OF TOTAL GENERAL FUND BALANCES TO NET POSITION OF GOVERNMENTAL ACTIVITIES September 30, 2013 Total Governmental Fund Balances $ 1,260,706 Amounts reported for governmental activities in the Statement of Net Position are different because: Capital assets, $1,667,542, net of accumulated depreciation, $(830,682), used in governmental activities are not financial resources and; therefore, are not reported in the funds. 836,860 Net Position of Governmental Activities $ 2,097,566 See accompanying notes to financial statements. - 12- Port of the Islands Community Improvement District STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -GENERAL FUND For the Year Ended September 30, 2013 Revenues Special assessments $ 393,680 Investment income 4,936 Miscellaneous revenues 1,575 Total Revenues 400,191 Expenditures Current General government 119,065 Physical environment 226,778 Total Expenditures 345,843 Net change in fund balances 54,348 Fund Balances-October 1, 2012 1,206,358 Fund Balances- September 30, 2013 $1,260,706 See accompanying notes to financial statements. - 13- 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, 2013 Net Change in Fund Balances-Total Governmental Funds $ 54,348 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. (42,633) Change in Net Position of Governmental Activites $ 11,715 See accompanying notes to financial statements. - 14- 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, 2013 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Revenues Special assessments $ 417,984 $ 417,984 $ 393,680 $ (24,304) Investment income 2,177 2,177 4,936 2,759 Miscellaneous revenues - 1,575 1,575 Total Revenues 420,161 420,161 400,191 (19,970) Expenditures Current General government 120,827 120,827 119,065 1,762 Physical environment 223,540 223,540 226,778 (3,238) Capital outlay 70,894 70,894 - 70,894 Total Expenditures 415,261 415,261 345,843 69,418 Net change in fund balances 4,900 4,900 54,348 49,448 Fund Balances-October 1, 2012 1,293,898 1,293,898 1,206,358 (87,540) Fund Balances-September 30, 2013 $1,298,798 $1,298,798 $1,260,706 $ (38,092) See accompanying notes to financial statements. - 15- Port of the Islands Community Improvement District STATEMENT OF NET POSITION -WATER&SEWER FUND September 30, 2013 ASSETS Current Assets Cash and equivalents $ 196,405 Cash restricted for customer deposits 33,100 Investments 13,924 Accounts receivable 7,012 Due from other governments 7,856 Prepaid expenses 2,521 Total Current Assets 260,818 Non-Current Assets Land and improvements 293,061 Improvements other than buildings 15,409,143 Equipment 226,308 Construction in progress 3,090 Less: Accumulated depreciation (4,206,014) Total Non-Current Assets 11,725,588 Total Assets 11,986,406 LIABILITIES Current Liabilities Accounts payable and accrued expenses 62,243 Due to other funds 332,213 Customer deposits payable from restricted assets 33,100 Accrued interest 58,584 Bonds payable 514,758 Total Current Liabilities 1,000,898 Non-current Liabilities Bonds payable 3,490,972 Total Liabilities 4,491,870 NET POSITION 7,915,750 Invested in capital assets, net of related debt Unrestricted (421,214) Total Net Position $ 7,494,536 See accompanying notes to financial statements. - 16 - Port of the Islands Community Improvement District STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET POSITION - WATER &SEWER FUND September 30, 2013 Operating Revenues: Charges for services Water $ 41,561 Sewer 64,573 Irrigation 91,707 Special assessments 1,026,268 Miscellaneous revenues 6,895 Total Operating Revenues 1,231,004 Operating Expenses: General and administrative 135,850 Plant operations 478,836 Depreciation 491,203 Total Operating Expenses 1,105,889 Operating Income(Loss) 125,115 Non-Operating Revenues (Expenses): Interest earnings 3,279 Interest expense (150,783) Total non-operating revenues/(expenses) (147,504) Change in Net Position (22,389) Net Position - October 1, 2012 7,516,925 Net Position - September 30, 2013 $ 7,494,536 See accompanying notes to financial statements. - 17 - Port of the Islands Community Improvement District STATEMENT OF CASH FLOWS-WATER&SEWER FUND September 30, 2013 CASH FLOWS FROM OPERATING ACTIVITIES Receipts from customers $ 199,968 Receipts from special assessments 1,026,268 Payments to suppliers for goods and services (747,267) Net Cash Provided by Operating Activities 478,969 CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Investment in capital assets (196,991) Principal payments on long-term debt (497,303) Interest paid on long-term debt (158,056) Net Cash Used by Financing Activities (852,350) CASH FLOWS FROM INVESTING ACTIVITIES Sale of investments 17,597 Purchase of investments (2,950) Interest on pooled cash and investments 3,279 Net Cash Provided by Investing Activities 17,926 Net Decrease in Cash and Cash Equivalents (355,455) Cash and equivalents-Ocotober 1, 2012 584,960 Cash and equivalents- September 30, 2013 $ 229,505 RECONCILIATION OF OPERATING INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES Operating income $ 125,115 Adjustments to reconcile operating income to net cash provided by operating activities: Depreciation expense 491,204 Increase in accounts receivable (4,889) Increase in due from other governments (129) Increase in prepaid expenses (80) Increase in due to other funds 98,603 Decrease in accounts payable and accrued expenses (214,232) Decrease in retainage payable (16,873) Increase in customer deposits 250 Net Cash Provided by Operating Activities $ 478,969 See accompanying notes to financial statements. - 18- Port of the Islands Community Improvement District NOTES TO FINANCIAL STATEMENTS September 30, 2013 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, (the "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, 2013 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 Governmental 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, 2013 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, 2013 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 position. The District applies all GASB pronouncements as well as all FASB and AICPA pronouncements, 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, 2013 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 Position. 4. Assets, Liabilities, and Net Position 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 Interlocal 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, 2013 NOTE A— SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 4. Assets, Liabilities, and Net Position 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 to/from other funds". Any residual balances outstanding between the governmental activities and business-type activities are reported as "internal balances". c. Restricted Assets Certain assets of the District and a corresponding liability or portion of net position is classified as restricted on the statement of net position 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 position and then from unrestricted net position. 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, 2013 NOTE A—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) 4. Assets, Liabilities, and Net Position 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 Position "Total fund balances" of the District's governmental funds, $1,260,706, differs from "net position" of governmental activities, $2,097,566, reported in the Statement of Net Position. This difference primarily results from the long-term economic focus of the Statement of Net Position 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, 2013 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 Position-(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 Position 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 (830,682) Total 2. Explanation of Differences Between the Governmental Fund Operating Statements and the Statement of Activities The u net changes in fund balances" for government funds, $54,348, differs from the"change in net position" for governmental activities, $11,715, 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 position decrease by the amount of depreciation expense charged for the year. Depreciation expense $ (42,633) - 26- Port of the Islands Community Improvement District NOTES TO FINANCIAL STATEMENTS September 30, 2013 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, 2013, the District's bank balance was $1,049,539 and the carrying value was $1,000,626. 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, 2013, the District had the following investments and maturities: Investment Maturities Fair Value Certificate of Deposit 03/13/15 $ 152,763 Florida State Board of Administration Florida Prime N/A 3,429 Fund B N/A 20,982 Total $ 177,174 Investments 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 Florida Prime and Fund B. The District had investments reported at fair value of$20,982 at September 30, 2013 in Fund B. Fund B is not rated by any nationally recognized rating agency. Fund B consists of assets transferred from the Florida Prime 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, 2013 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 (the "Fund"), at September 30, 2013. 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 86% of the District's investments. The investment in Local Government Surplus Funds Trust represents 14% of the District's investments. The types of deposits and investments and their level of risk exposure as of September 30, 2013 were typical. NOTE D—SPECIAL ASSESSMENT REVENUES Special assessment revenues recognized for the 2012-2013 fiscal year were levied in October 2012. 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 $478,529 in special assessments receivable at September 30, 2013 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, 2013 NOTE E— RECEIVABLE AND PAYABLE BALANCES Accounts Receivable Accounts receivable in the Enterprise Fund at September 30, 2013 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$14,652. Accounts payable and accrued expenses in the Enterprise Fund consisted of vendor payables in the amount of$62,243. NOTE F —CAPITAL ASSETS Capital asset activity for governmental activities for the year ended September 30, 2013 was as follows: Balance Balance October 1, September 30, 2012 Additions Deletions 2013 Governmental Activities: Capital assets, not being depreciated: Land and improvements $ 228,197 $ $ $ 228,197 Capital assets, being depreciated: Infrastructure 1,313,611 - - 1,313,611 Improvements other than buildings 110,121 - - 110,121 Equipment 15,613 - - 15,613 Total Capital Assets, Being Depreciated 1,439,345 - - 1,439,345 Total Capital Assets 1,667,542 - 1,667,542 Less accumulated depreciation for: Infrastructure (673,638) (41,742) - (715,380) Buildings and improvements (98,798) (891) - (99,689) Equipment (15,613) - - (15,613) Total Accumulated Deprecitation (788,049) (42,633) - (830,682) Total Capital Assets Being Depreciated, Net 651,296 (42,633) 608,663 Governmental Activities Capital Assets $ 879,493 $ (42,633) $ - $ 836,860 Depreciation expense of$42,633 was charged to physical environment. -29- • Port of the Islands Community Improvement District NOTES TO FINANCIAL STATEMENTS September 30, 2013 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, 2013. Balance Balance October 1, September 30, 2012 Additions Deletions 2013 Business-type Activities:. Capital assets, not being depreciated: Land and improvements $ 293,061 $ - $ - $ 293,061 Construction in progress 9,079 - (5,989) 3,090 Total Capital Assets, Not Depreciated 302,140 - (5,989) 296,151 Capital assets,being depreciated: Improvements other than buildings 15,208,163 202,980 - 15,409,143 Equipment 226,308 - - 226,308 Total Capital Assets, Being Depreciated 15,432,471 202,980 - 15,635,451 Less accumulated depreciation for: Improvements other than buildings (3,632,961) (480,234) - (4,113,195) Equipment (81,849) (10,970) (92,819) Total Accumulated Depreciation (3,714,810) (491,204) (4,206,014) Total Capital Assets Depreciated, Net 11,717,661 (288,224) - 11,429,437 Business-Type Activities Capital Assets $ 12,019,801 $ (288,224) $ (5,989) $ 11,725,588 Depreciation expense of$491,204 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, 2013: Business-type Activities Long-term debt at October 1, 2012 $ 4,503,033 Principal payments (497,3031 Long-term debt at September 30, 2013 $ - 4 005.730 - 30- Port of the Islands Community Improvement District NOTES TO FINANCIAL STATEMENTS September 30, 2013 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-annually on May 1 and November 1 at a rate of 3.510%. $ 4,005,730 The annual requirements to amortize the principal and interest of bonded debt outstanding as of September 30, 2013 are as follows: Year Ending September 30, Principal Interest Total 2014 $ 514,758 $ 140,601 $ 655,359 2015 532,827 122,533 655,360 2016 551,529 103,831 655,360 2017 570,887 84,472 655,359 2018 590,925 64,434 655,359 2019-2020 1,244,804 65,916 1,310,720 Totals $ 4,005,730 $ 581,787 $ 4,587,517 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 2013 special assessments. In total, the District has not received $478,529 of assessments. During 2010, the landowner filed for Chapter 11 Bankruptcy; however, the bankruptcy was dismissed by the Judge. An allowance account has been established related to outstanding assessments. Subsequent to year end, the District received a ruling by the Judge in the District's favor regarding the legality of assessments; however, the District has not received any payment for the special assessment balance noted above. NOTE J— NET POSITION The District adopted Governmental Accounting Standards Board Statement (GASB) No. 63, which amends net asset reporting by establishing deferred outflows and deferred inflows of resources and renamed the residual measure net position. No changes to the financial statements were required as a result of GASB 63 except for renaming net assets to net position. - 31 - • Port of the Islands Community Improvement District NOTES TO FINANCIAL STATEMENTS September 30, 2013 NOTE K— PRIOR PERIOD ADJUSTMENT Governmental Accounting Standards Board Statement No. 65 altered accounting for bond issuance costs by requiring such cost be expensed in the period incurred. Bond issuance costs were previously capitalized and amortized over the life of the bond. Net position was restated to reflect this change in accounting principles. The effect on net position is illustrated below. Business-type Activites Net position, October 1, 2012 as previously reported $ 7,548,546 Prior period adjustment- removal of bond issuance costs (31,621) Net position, October 1, 2012 restated $ 7,516,925 - 32- cec 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 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, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of Port of the Islands Community Improvement District, as of and for the year ended September 30, 2013, and the related notes to the financial statements, and have issued our report thereon dated April 29, 2014. 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 to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions 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. 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. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. 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 that might be material weaknesses or significant deficiencies. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified. Fort PierrrP/Stuart Member AICPA Member AICPA Division For CPA Firms Member FICPA Private Companies Practice Section ere Berger, Toombs, Elam, c Gaines & Frank Board of Supervisors Port of the Islands Community Improvement District Compliance and Other Matters As part of obtaining reasonable assurance about whether Port of the Islands Community Improvement 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. Purpose of this Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the entity's internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity's internal control and compliance. Accordingly, this communication is not suitable for any other purpose. ja0t64), Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants Fort Pierce, Florida April 29, 2014 - 34 - crc Berger, Toombs, Elam, - Gaines & Frank Certified Public Accountants PL 600 Citrus Avenue Suite 200 Fort Pierce, Florida 34950 772/461-6120//461-1155 FAX: 772/466-9278 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, 2013, and have issued our report thereon dated April 29, 2014. We conducted our audit in accordance with auditing standards generally accepted in the United States; the standards applicable to financial audits contained in Government 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 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. Disclosures in that report which is dated April 29, 2014 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)(1)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 Pierccecc/Stuart Member AICPA Member AICPA OiJis`i'on For CPA Firms Member FICPA Private Companies Practice Section Cc Berger, Toombs, Elam, _ry Gaines & Frank 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)(i)7.c and Section 10.556(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, 2013, filed 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, 2013. Pursuant to Chapter 119, Florida Statutes, this Management Letter is a public record and its distribution is not limited. However, in accordance with auditing standards generally accepted in the United States of America, this Management Letter is intended solely for the information of Port of the Islands Community Improvement District and Management, and the State of Florida Office of the Auditor General, and is not intended to be and should not be used by anyone other than these specified parties. j 0, -ti t. Berger, Toombs, Elam, Gaines & Frank Certified Public Accountants PL Fort Pierce, Florida April 29, 2014 - 36 - PORT OF THE ISLANDS Community Improvement District Annual Operating and Debt Service Budget Fiscal Year 2015 Version 2 - Proposed Budget (Printed on 5/2/2014 4pm) Prepared by 1113 2=1 TRENT 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 Budget Narrative 9-12 Amortization Schedule 13 SUPPORTING BUDGET SCHEDULES 2014-2015 Non-Ad Valorem Assessment Summary 14 CIP Schedule . 15 Port of the Islands Community Improvement District Operating Budget Fiscal Year 2015 PORT OF THE ISLANDS Community Improvement District General Fund Summary of Revenues,Expenditures and Changes in Fund Balances Fiscal Year 2015 Proposed Budget AMENDED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL BUDGET THRU MAY- PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2012 FY 2013 FY 2014 APR-2014 SEP-2014 FY 2014 FY 2015 REVENUES Interest-Investments $ 5,018 $ 3,324 $ 2,090 $ 1,263 $ 902 $ 2,165 $ 2,151 Net Incr(Decr)In FMV-Invest 3,456 1,580 372 372 - Interest-Tax Collector 34 32 - Special Assmnts-Tax Collector 402,231 402,232 435,400 307,190 128,210 435,400 430,235 Special Assmnts-Discounts (11,204) (8,552) (17,416) (9,356) - (9,356) (17,209) Other Miscellaneous Revenues - 1,575 - 1,162 1,162 - j I TOTAL REVENUES 399,535 400,191 420,074 300,631 129,112 429,743 415,177 EXPENDITURES Administrative P/R-Board of Supervisors 6,200 6,800 7,000 3,500 3,500 7,000 7,000 FICA Taxes 474 520 536 268 268 536 536 ProfServ-Engineering 22,923 18,450 26,000 13,601 9,715 23,316 26,000 ProfServ-Legal Services 38,472 28,245 12,500 8,727 6,234 14,961 14,000 ProfServ-Mgmt Consulting Sery 27,539 28,365 29,216 17,043 12,173 29,216 30,092 Prof Serv-Property Appraiser 6,531 6,531 6,531 6,531 - 6,531 6,454 ProfServ-Special Assessment 8,974 9,243 9,520 9,520 ,. 9,520 9,806 Auditing Services 3,500 3,500 3,750 - 3,500 3,500 3,500 Communication-Telephone 36 14 100 - . Postage and Freight 1,071 1,030 1,200 564 403 967 1,200 Rental-Meeting Room 325 300 350 175 175 350 350 Insurance-General Liability 7,690 8,103 9,028 6,068 1,921 7,989 8,787 1 Printing and Binding 1,239 1,006 1,300 487 696 1,183 1,300 Legal Advertising 831 223 1,000 661 350 1,011 1,000 Miscellaneous Services 890 543 1,380 214 153 367 1,380 Misc-Assessmnt Collection Cost 4,816 4,860 8,708 5,957 2,751 8,708 8,605 Misc-Web Hosting 119 969 1,000 496 504 1,000 1,000 Office Supplies 261 186 500 100 71 171 500 • Annual District Filing Fee 175 175 175 175 • 175 175 Total Administrative 132,066 119,063 119,794 74,087 42,413 118,500 121,347 Field Contracts-Mgmt Services 98,536 97,123 100,000 58,333 41,667 100,000 100,000 Contracts-Landscape 83,115 85,727 82,830 48,317 34,512 82,829 82,830 Electricity-Streetlighting 16,615 18,154 19,000 9,101 6,501 15,602 19,000 Utility-Irrigation 12,670 13,060 12,600 9,516 6,797 16,313 17,000 R&M-Renewal and Replacement 12,325 12,714 30,849 21,440 15,314 36,754 70,000 R&M-Irrigation - - 1 - . R&M-Roads&Alleyways ,. - 4,000 1,700 2,300 4,000 4,000 R&M-Signage - 1,000 - 1,000 1,000 1,000 Capital Outlay - 50,000 - 50,000 50,000 - Total Field 223,261 226,778 300,280 148,407 158,091 308,498 293,830 I TOTAL EXPENDITURES 355,327 345,841 420,074 222,494 200,504 422,998 415,177 I Annual Operating Budget Fiscal Year 2015 1 PORT OF THE ISLANDS Community Improvement District General Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2015 Proposed Budget AMENDED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL BUDGET THRU MAY- PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2012 FY 2013 FY 2014 APR-2014 SEP-2014 FY 2014 FY 2015 Excess(deficiency)of revenues Over(under)expenditures 44,208 54,350 78,137 (71,392) 6,745 - OTHER FINANCING SOURCES(USES) Operating Transfers-Out - (368,000) (368,000) (368,000) Contribution to(Use of)Fund Balance - (368,000) - - - I TOTAL OTHER SOURCES(USES) - - (736,000) (368,000) - (368,000) • Net change in fund balance 44,208 54,350 (368,000) (289,863) (71,392) (361,255) FUND BALANCE,BEGINNING 1,162,147 1,206,355 1,260,705 1,260,705 - 1,260,705 899,450 FUND BALANCE,ENDING $1,206,355 $1,260,705 $ 892,705 $ 970,842 $(71,392) $ 899,450 $ 893,709 Annual Operating Budget Fiscal Year 2015 2 PORT OF THE ISLANDS Community Improvement District General Fund Budget Narrative Fiscal Year 2015 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. C 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 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 Budget Fiscal Year 2015 3 PORT OF THE ISLANDS Community Improvement District General Fund Budget Narrative Fiscal Year 2015 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. 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 2015 budget includes an estimated 10% increase of the actual FY 2014 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 FY2015 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 District Filing Fee The District is required to pay an annual fee of$175 to the Department of Economic Opportunity Division of Community Development. Annual Operating Budget Fiscal Year 2015 4 PORT OF THE ISLANDS Community Improvement District General Fund Budget Narrative Fiscal Year 2015 l EXPENDITURES 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-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 Budget Fiscal Year 2015 5 PORT OF THE ISLANDS Community Improvement District General Fund Exhibit"A" Allocation of Fund Balances AVAILABLE FUNDS Amount Beginning Fund Balance-Fiscal Year 2015 $ 899,450 Net Change in Fund Balance-Fiscal Year 2015 - Reserves-Fiscal Year 2015 Additions ITotal Funds Available(Estimated)-9/30/2014 893,709 1 ALLOCATION OF AVAILABLE FUNDS Assigned Fund Balance Operating Reserve-First Quarter Operating Capital 103,794 (1) Subtotal 103,794 Total Allocation of Available Funds 103,794 1 Total Unassigned(undesignated)Cash $ 789,915 Notes (1)Represents approximately 3 months of operating expenditures Annual Operating Budget Fiscal Year 2015 6 PORT OF THE ISLANDS Community Improvement District Water And Sewer Fund Summary of Revenues, Expenses and Changes In Net Assets Fiscal Year 2015 Proposed Budget AMENDED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL BUDGET THRU MAY- PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2012 FY 2013 FY 2014 APR-2014 SEP-2014 FY 2014 FY 2015 OPERATING REVENUES Interest-Investments $ 2,886 $ 337 $ 578 $ 210 $ 150 $ 360 $ 292 Water Revenue 41,089 41,561 45,000 31,071 22,194 53,265 45,000 Sewer Revenue 62,574 64,573 70,000 48,442 33,173 79,815 70,000 Irrigation Fees 82,528 91,707 100,000 57,012 40,723 97,735 95,000 Meter Fees 2,500 2,500 2,500 Net incr(Decr)In FMV-Invest 6,435 2,942 - 693 - 693 - Special Assmnts-Tax Collector 1,048,559 1,048,562 1,135,025 800,801 334,225 1,135,028 1,167,987 Special Assmnts-Discounts (29,206) (22,294) (45,401) (24,389) - (24,389) (46,719) Disposition of Fixed Assets (105,502) • Other Miscellaneous Revenues 5,045 8,895 - 8,399 - 8,399 I TOTAL OPERATING REVENUES 1,116,708 1,234,283 1,305,202 922,739 430,465 1,353,204 1,331,560 OPERATING EXPENSES Personnel and Administration P/R-Board of Supervisors 6,200 6,800 7,000 3,500 3,500 7,000 7,000 FICA Taxes 474 520 536 268 268 536 536 ProfServ-Engineering 22,923 18,450 28,000 13,601 9,715 23,316 28,000 ProfServ-Legal Services 38,472 28,245 12,500 8,727 6,234 14,961 14,000 ProfServ-Mgmt Consulting Sery 27,652 28,482 29,336 17,113 12,223 29,336 30,216 ProfServ-Property Appraiser 17,025 17,025 17,025 17,025 17,025 17,520 ProfSery-Special Assessment 7,655 7,885 8,122 8,122 - 8,122 8,366 ProfServ-Utility Billing 9,053 - - Auditing Services 3,500 3,500 3,750 - 3,500 3,500 3,500 Communication-Telephone 36 14 100 - - Postage and Freight 696 786 1,200 819 442 1,061 1,200 Rental-Meeting Room 325 300 350 175 175 350 350 Insurance-General Liability 7,690 7,577 9,028 6,068 1,921 7,989 8,787 Printing and Binding 930 754 1,300 487 696 1,183 1,300 Legal Advertising 670 162 1,000 661 350 1,011 1,000 Miscellaneous Services 2,265 2,467 2,600 723 516 1,239 2,600 Misc-Assessmnt Collection Cost 12,660 12,670 22,701 15,528 7,173 22,701 23,360 Office Supplies 305 214 500 100 71 171 500 Depreciation Expense 321,266 491,203 - - Total Personnel and Admin 479,797 627,054 143,048 92,717 46,784 139,501 146,234 Water-Sewer Comb Services Contracts-Mgmt Services 299,592 302,932 309,533 180,561 128,972 309,533 309,533 Contracts-Other Services 1,750 1,750 1,750 1,750 1,750 - Contracts-Generator Maintenance - - - 1,750 Communication-Teieph-Field 4,033 4,595 4,512 2,748 1534 4,282 4,512 Utility -General 81,516 80,034 83,000 50,377 35,984 86,361 87,000 R&M-Irrigation 38,517 9,845 20,500 22,331 15,951 38,282 35,000 R&M-Water Plant 45,712 47,699 14,000 11,498 8,213 19,711 20,000 Annual Operating Budget Fiscal Year 2015 7 PORT OF THE ISLANDS Community Improvement District Water And Sewer Fund Summary of Revenues,Expenses and Changes in Net Assets Fiscal Year 2015 Proposed Budget AMENDED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL BUDGET THRU MAY- PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2012 FY 2013 FY 2014 APR-2014 SEP-2014 FY 2014 FY 2015 R&M-Waste Water Plant 82,093 26,338 45,000 11,876 8,483 20,359 15,000 Misc-Bad Debt 2,079 1,267 - 99 - 99 Misc-Licenses&Permits 5,375 4,375 4,500 6,375 - 6,375 6,375 Cap Outlay-Water Plant - 4,000 59,732 24,597 84,329 Cap Outlay-Waste Water Plant - - 20,000 20,000 20,000 50,796 Total Water-Sewer Comb Srvca. 560,667 478,835 506,795 347,347 243,733 591,080 529,966 Debt Service Principal Debt Retirement - - 514,758 514,758 514,758 532,827 Interest Expense 174,899 150,783 140,601 11,717 128,884 140,601 122,533 Total Debt Service 174,899 150,783 655,358 11,717 643,642 655,359 655,360 TOTAL OPERATING EXPENSES 1,215,363 1,256,672 1,305,202 451,781 1,385,940 1,331,560 Operating income(loss) (98,655) (22,389) - 470,958 (503,694) (32,736) • OTHER FINANCING SOURCES(USES) Interfund Transfer-In 388,000 368,000 - 368,000 Contribution to(Use of)Fund Balance - - - - - TOTAL OTHER SOURCES(USES) - - 368,000 368,000 - 368,000 'i Change In net assets (98,655) (22,389) 368,000 838,958 (503,694) 335,264 - TOTAL NET ASSETS,BEGINNING 7,647,201 7,548,546 7,494,536 7,494,536 - 7,494,536 7,829,800 TOTAL NET ASSETS,ENDING $7,548,546,12,14.9152L$7,862,536 $8,333,494 $(503,694) $7,829,800 $7,829,800 Annual Operating Budget Fiscal Year 2015 8 PORT OF THE ISLANDS Community Improvement District Water and Sewer Fund Budget Narrative Fiscal Year 2015 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. • I 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 tees 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 Budget Fiscal Year 2015 9 • PORT OF THE ISLANDS Community Improvement District Water and Sewer Fund Budget Narrative Fiscal Year 2015 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 FY2015 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. 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 2015 budget includes an estimated 10%increase of the actual FY 2014 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 FY2015 budget for collection costs was based on a maximum of 2%of the anticipated assessment collections. 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. Annual Operating Budget Fiscal Year 2015 10 PORT OF THE ISLANDS Community Improvement District Water and Sewer Fund Budget Narrative Fiscal Year 2015 I EXPENDITURES 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-Generator Maintenance 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 Automated 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 Gays 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 Plant Repair and maintenance costs associated with the water plant. R&M—Waste Water Plant Repair and maintenance costs associated with the waste water plant. 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. Annual Operating Budget Fiscal Year 2015 11 PORT OF THE ISLANDS Community Improvement District Water and Sewer Fund Budget Narrative Fiscal Year 2015 EXPENDITURES Field(continued) Capital Outlay—Waste Water Plant Funds spent on capital improvement projects for the waste water plant. • Ww-23$30,796 SCADA AND CONTROL PANEL • 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 Budget Fiscal Year 2015 12 PORT OF THE ISLANDS Community Improvement District Debt Amortization Series 2010 Bond Period Coupon Debt Annual Debt Ending Principal Rats Inbred Service Service 11/1/2014 $61,266.55 $61266.55 5/1/2015 $532,826.51 3.510% $61,266.55 $594,093.06 $655,359.61 11/1/2015 $51,915.45 $51.91545 5/1/2016 $551528.72 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 $623,142.58 $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 5/1/2020 $633,136.52 3.510% $11,111.55 $644,248.07 $655,359.62 Total $3,400,971.86 $441,188.02 $3.932.167.86 4932,167.89 Annual Operating Budget Fiscal Year 2015 13 Port of the Islands Community Improvement District Supporting Budget Schedules Fiscal Year 2015 PORT OF THE ISLANDS Community Improvement District Port of the islands Community improvement District Non-Ad Valorem Assessment Roll FY 2014-2015 Product Maint.ERC Maint/ERC W/S ERC W/S Standby W/S Capital Total per Type Allocation $ 395 Allocation f $1,156 Product $445 $711 Hotel Room 1.00 $395 0.60 $267 $427 $1,089 Condo Unit 1.00 $395 0.80 $356 $569 $1,320 Single Family 1.00 $395 1.00 $445 $711 $1,551 Comparison FY 2014 to FY 2015 Product Total Total Increase % Type FY 2015 FY 2014 (Decrease) Change Hotel Room $1,089 $1,074 $15 1% Condo Unit $1,320 $1,299 $21 2% Single Family $1,551 $1,524 $28 2% Annual Operating Budget Fiscal Year 2015 14 PORT OF THE ISLANDS Community Improvement District All Funds Capital Improvement Program-Status Report Updated thru 4/30/14 ROADS PROGRAM PROJECT FY 2014 PAID IN FY PAID PROJECT NO PROJECT NAME OR DESCRIPTION INCEPTION TO FY 2015 FY 2016 FY 2017 FY 2018 ESTIMATE"' 20141 STATUS DATE l3) W talleralei10444 8100 000 P" r 4$ $ is a 'i S �; $ $ ,e8 w'futlhg Won i ttofn.41-P1114011 , ooted t,., tr zoo�mq' $ p r Total General Fund $ 50,000 S • $ • $ $ - $ $ • ,.P3, '•a°. IRRIGATION PROGRAM I-9 VDU for 15hp pump $ $ $ $ $ $ $ ST-tabled Total Irrigation Program $ $ $ -[$ -I$ S $ I WATER PROGRAM W-14A Construction of New Water Treatment Plant $ 25.200 $ 25.200 $ 4.409.326 $ - $ $ $ HM Project W-148 Inspection of New Water Treatment Plant $ - $ - $ 440,894 $ $ $ • $ HM Project New water meter replacement program to include backflow prevention (Replace+/-20%per year W-15 for 4 years) _$ 55.129 $ 34,532 $ 230,097 $ $ - $ $ ST project W-19 Video surveillance and monitoring $ $ - $ $ • $ 10.000 $ - $ - ST project W-20 Spare parts $ - $ $ - $ - $ - $ - $ ST project W-22 Fire hydrant repair and replacement $ 4,000 $ • $ 3,090 $ • $ • $ • $ - ST project Total Water Program S 84,329 $ 59,732 $ 5,083,406.$ - $ 10,000 $ $ `< WASTEWATER PROGRAM $T combined WW-23 SCADA and control panel for lilt stations $ $ $ 77,137 $ 30,796 $ 30,796 $ 30,796 $ w/WW-26 WW-24 MDR Membranes S 20,000 $ • $ • $ 20,000 $ 20,000 $ - $ - ST Total Wastewater Program $ 20,000_$ $ 77,137�$ 50,796 $ 50,796 $ 30,796 $ Total Water/Sewer Fund]$ 104 329]$ 59r732($ 5160,543]$ 50,796]$ 60,798]$ 30,796($ NOTE(1):The amounts shown in the'FY 2014 ESTIMATE'columns reflect the most recent approximation of what the District expects to spend on each project between October 1,2013 and September 30,2014. NOTE 121: The amounts shown in the'PAID IN FY 2014'column reflects project expenses incurred between October 1,2013 and September 30,2014, The total of these columns will tie to the amounts reported as'Year to Date Actual-Capital Outlay'in the corresponding monthly financial statements. NOTE 131: The'PAID INCEPTION TO DATE'columns reflect any payments made between FY 2006 and present. 15 Annual Operating Budget Fiscal Year 2015 Port of the Islands Community Improvement District Severn Trent Management Services 210 North University Drive, Suite 702 Coral Springs, Florida 33071 Telephone: (954) 753-5841 • Fax: (954) 345-1292 Via Federal Express May 30,2014 Mr. Leo E. Ochs,Jr. Mr.A.William Moss Collier County Manager Naples City Manager 3299 Tamiami Trail East City Hall Suite 202 735 Eighth Street South Naples, Florida 34112 Naples,Florida 34102 RE: Proposed Annual Operating and Debt Service Budget for Fiscal Year 2015 Dear Messrs. Ochs and Moss: In accordance with Chapter 190.008(2)(b) of the Florida Statutes, the District is required to submit to the local governing authorities having jurisdiction over the area included in the District, for purposes of disclosure and information only, the proposed annual Budget for the ensuing Fiscal Year at least sixty(60)days prior to the Public Hearing. The District's Public Hearing is scheduled as follows: Date: Friday,August 15,2014 Time: 10:00 a.m. Place: Orchid Cove Clubhouse 25005 Peacock Lane Naples, Florida 34114 I am pleased to enclose the District's Proposed Annual Operating and Debt Service Budget for Fiscal Year 2015 as required by Statute and request you post it to the County's website under Special Districts. If you have any questions or comments, please feel free to contact me directly at(239) 245-7118. Sincerely, Calvin Teagucfjs u District Manager Enclosure cc: District Files(agency) RESOLUTION 2014-05 A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE PORT OF THE ISLANDS COMMUNITY IMPROVEMENT DISTRICT APPROVING THE BUDGET FOR FISCAL YEAR 2015 AND SETTING A PUBLIC HEARING THEREON PURSUANT TO FLORIDA LAW WHEREAS,the District Manager has heretofore prepared and submitted to the Board a proposed Operating and/or Debt Service Budget for Fiscal Year 2015;a copy of which is attached hereto, and WHEREAS,the Board of Supervisors has considered said Proposed Budget and desires to set the required Public Hearing thereon; NOW, THEREFORE BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE PORT OF THE ISLANDS COMMUNITY IMPROVEMENT DISTRICT; 1. The Budget proposed by the District Manager for Fiscal Year 2015 is hereby approved as the basis for conducting a Public Hearing to adopt said Budget. 2. A Public Hearing on said Approved Budget is hereby declared and set for the following date,hour and location: Date: Friday,August 15,2014 Hour: 10:00 a.m. Location: Orchid Cove Clubhouse 25005 Peacock Lane Naples, Florida 34114 Notice of this Public Hearing shall be published in the manner prescribed by Florida Law. - —)Adopted this 16th day of May,201x: i ,'°4--C-A. -- ilitict—/ Trine Dillon Chair so - ----'°- Calvin Teague Secretary � � ' PORT OF THE ISLANDS Community Improvement District Annual Operating and Debt Service Budget Fiscal Year 2015 Version 2-Approved Tentative Budget: (Approved at 5/18/2014 meeting) Prepared by: SEVERN TRENT 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 Budget Narrative 9-12 Amortization Schedule 13 SUPPORTING BUDGET SCHEDULES, 2014-2015 Non-Ad Valorem Assessment Summary •••••..,,•...•••••••• 14 CIP Schedule 15 Port of the Islands Community Improvement District Operating Budget Fiscal Year 2015 PORT OF THE ISLANDS Community Improvement District General Fund Summary of Revenues, Expenditures and Changes In Fund Balances Fiscal Year 2015 Proposed Budget AMENDED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL BUDGET THRU MAY- PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2012 FY 2013 FY 2014 APR-2014 SEP-2014 FY 2014 FY 2015 REVENUES Interest-Investments $ 5,018 $ 3,324 $ 2,090 $ 1,263 $ 902 $ 2,165 $ 2,153 Net Incr(Decr)In FMV-Invest 3,456 1,580 372 372 Interest-Tax Collector 34 32 - Special Assmnts-Tax Collector 402,231 402,232 435,400 307,190 128,210 435,400 430,597 Special Assmnts-Discounts (11,204) (8,552) (17,416) (9,356) - (9,356) (17,224) Other Miscellaneous Revenues 1,575 1,162 1,162 TOTAL REVENUES 399,535 400,191 420,074 300,631 129,112 429,743 415,526 EXPENDITURES Administrative P/R-Board of Supervisors 6,200 6,800 7,000 3,500 3,500 7,000 7,000 FICA Taxes 474 520 536 268 268 536 536 ProfServ-Engineering 22,923 18,450 26,000 13,601 9,715 23,316 26,000 ProfServ-Legal Services 38,472 28,245 12,500 8,727 6,234 14,961 14,000 ProfSery-Mgmt Consulting Sery 27,539 28,365 29,216 17,043 12,173 29,216 30,092 Prof Serv-Property Appraiser 6,531 6,531 6,531 6,531 6,531 6,459 Prof Serv-Special Assessment 8,974 9,243 9,520 9,520 9,520 9,806 Auditing Services 3,500 3,500 3,750 3,500 3,500 3,500 Communication-Telephone 36 14 100 - Postage and Freight 1,071 1,030 1,200 564 403 967 1,200 Rental-Meeting Room 325 300 350 175 175 350 350 Insurance-General Liability 7,690 8,103 9,028 6,068 1,921 7,989 8,787 Printing and Binding 1,239 1,006 1,300 487 696 1,183 1,300 Legal Advertising 831 223 1,000 661 350 1,011 1,000 Miscellaneous Services 890 543 1,380 214 153 367 1,380 Misc-Assessmnt Collection Cost 4,816 4,860 8,708 5,957 2,751 8,708 8,612 Misc-Web Hosting 119 969 1,000 496 504 1,000 1,000 Office Supplies 261 186 500 100 71 171 500 Annual District Filing Fee 175 175 175 175 - 175 175 Total Administrative 132,066 119,063 119,794 74,087 42,413 116,500 121,697 Field Contracts-Mgmt Services 98,536 97,123 100,000 58,333 41,667 100,000 100,000 Contracts-Landscape 83,115 85,727 82,830 48,317 34,512 82,829 82,830 Electricity-Streetlighting 16,615 18,154 19,000 9,101 6,501 15,602 19,000 Utility-Irrigation 12,670 13,060 12,600 9,516 6,797 16,313 17,000 R&M-Renewal and Replacement 12,325 12.714 30,849 21,440 15,314 36,754 70,000 R&M-Irrigation - 1 - - - - R&M-Roads&Alleyways 4,000 1,700 2,300 4,000 4,000 R&M-Signage - 1,000 - 1,000 1,000 1,000 Capital Outlay 50,000 - 50,000 50,000 - Total Field 223,261 226,778 300,280 148,407 158,091 306,498 293,830 I TOTAL EXPENDITURES 355,327 345,841 4202074 222,494 200,504 422,998 415,526 Annual Operating Budget Fiscal Year 2015 1 PORT OF THE ISLANDS Community Improvement District General Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2015 Proposed Budget AMENDED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL BUDGET THRU MAY- PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2012 FY 2013 FY 2014 APR-2014 SEP-2014 FY 2014 FY 2015 Excess(deficiency)of revenues Over(under)expenditures 44,208 54,350 78,137 (71,392) 6,745 OTHER FINANCING SOURCES(USES) Operating Transfers-Out - (368,000) (368,000) - (368,000) Contribution to(Use of)Fund Balance (368,000) I TOTAL OTHER SOURCES(USES) - - (736,000) (368,000) - (368,000) - Net change in fund balance 44,208 54,350 (368,000) (289,863) (71,392) (361,255) FUND BALANCE,BEGINNING 1,162,147 1,206,355 1,260,705 1,260,705 1,260,705 899,450 FUND BALANCE,ENDING $1,206,355 $1,260,705 $ 892,705 $ 970,842 $(71,392) $ 899,450 $ 899,450 Annual Operating Budget Fiscal Year 2015 2 PORT OF THE ISLANDS Community Improvement District General Fund Budget Narrative Fiscal Year 2015 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 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 Budget Fiscal Year 2015 3 PORT OF THE ISLANDS Community Improvement District General Fund Budget Narrative Fiscal Year 2015 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. 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 2015 budget includes an estimated 10% increase of the actual FY 2014 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 FY2015 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 District Filing Fee The District is required to pay an annual fee of$175 to the Department of Economic Opportunity Division of Community Development. Annual Operating Budget Fiscal Year 2015 4 PORT OF THE ISLANDS Community Improvement District General Fund Budget Narrative Fiscal Year 2015 EXPENDITURES 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-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 Budget Fiscal Year 2015 5 PORT OF THE ISLANDS Community Improvement District General Fund Exhibit"A" Allocation of Fund Balances AVAILABLE FUNDS Amount Beginning Fund Balance-Fiscal Year 2015 $ 899,450 Net Change in Fund Balance-Fiscal Year 2015 Reserves-Fiscal Year 2015 Additions - Total Funds Available(Estimated)-9/30/2014 899,450 ALLOCATION OF AVAILABLE FUNDS Assigned Fund Balance Operating Reserve-First Quarter Operating Capital 103,882 (1) Subtotal 103,882 Total Allocation of Available Funds 103,882 Total Unassigned(undesignated)Cash $ 795,569 Notes (1) Represents approximately 3 months of operating expenditures Annual Operating Budget Fiscal Year 2015 6 PORT OF THE ISLANDS Community Improvement District Water And Sewer Fund Summary of Revenues,Expenses and Changes in Net Assets Fiscal Year 2015 Proposed Budget AMENDED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL BUDGET THRU MAY- PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2012 FY 2013 FY 2014 APR-2014 SEP-2014 FY 2014 FY 2015 OPERATING REVENUES Interest-Investments $ 2,686 $ 337 $ 578 $ 210 $ 150 $ 360 $ 285 Water Revenue 41,089 41,561 45,000 31,071 22,194 53,265 45,000 Sewer Revenue 62,574 64,573 70,000 46,442 33,173 79,615 70,000 Irrigation Fees 82,528 91,707 100,000 57,012 40,723 97,735 95,000 Meter Fees 2,500 2,500 2,500 Net Incr(Decr)In FMV-Invest 6,435 2,942 693 693 Special Assmnts-Tax Collector 1,048,559 1,048,562 1,135,025 800,801 334,225 1,135,026 1,139,500 Special Assmnts-Discounts (29,206) (22,294) (45,401) (24,389) (24,389) (45,580) Disposition of Fixed Assets (105,502) Other Miscellaneous Revenues 5,045 6,895 8,399 8,399 1 TOTAL OPERATING REVENUES 1,116,708 1,234,283 1,305,202 922,739 430,465 1,353,204 1,304,205 OPERATING EXPENSES Personnel and Administration P/R-Board of Supervisors 6,200 6,800 7,000 3,500 3,500 7,000 7,000 FICA Taxes 474 520 536 268 268 536 536 ProfServ-Engineering 22,923 18,450 26,000 13,601 9,715 23,316 26,000 ProfServ-Legal Services 38,472 28,245 12,500 8,727 6,234 14,961 14,000 ProfServ-Mgmt Consulting Sery 27,652 28,482 29,336 17,113 12,223 29,336 30,216 ProfServ-Property Appraiser 17,025 17,025 17,025 17,025 - 17,025 17,093 ProfServ-Special Assessment 7,655 7,885 8,122 8,122 - 8,122 8,366 ProfServ-Utility Billing 9,053 - - - Auditing Services 3,500 3,500 3,750 3,500 3,500 3,500 Communication-Telephone 36 14 100 Postage and Freight 696 786 1,200 619 442 1,061 1,200 Rental-Meeting Room 325 300 350 175 175 350 350 Insurance-General Liability 7,690 7,577 9,028 6,068 1,921 7,989 8,787 Printing and Binding 930 754 1,300 487 696 1,183 1,300 Legal Advertising 670 162 1,000 661 350 1,011 1,000 Miscellaneous Services 2,265 2,467 2,600 723 516 1,239 2,600 Misc-Assessmnt Collection Cost 12,660 12,670 22,701 15,528 7,173 22,701 22,790 Office Supplies 305 214 500 100 71 171 500 Depreciation Expense 321,266 491,203 - Total Personnel and Admin 479,797 627,054 143,048 92,717 46,784 139,501 145,237 Water-Sewer Comb Services Contracts-Mgmt Services 299,592 302,932 309,533 180,561 128,972 309,533 309,533 Contracts-Other Services 1,750 1,750 1,750 1,750 1,750 Contracts-Generator Maintenance - 1,750 Communication-Teleph-Field 4,033 4,595 4,512 2,748 1,534 4,282 4,512 Utility -General 81,516 80,034 83,000 50,377 35,984 86,361 87,000 R&M-Irrigation 38,517 9,845 20,500 22,331 15,951 38,282 35,000 R&M-Water Plant 45,712 47,699 14,000 11,498 8,213 19,711 20,000 Annual Operating Budget Fiscal Year 2015 7 PORT OF THE ISLANDS Community Improvement District Water And Sewer Fund Summary of Revenues, Expenses and Changes in Net Assets Fiscal Year 2015 Proposed Budget AMENDED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL BUDGET THRU MAY- PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2012 FY 2013 FY 2014 APR-2014 SEP-2014 FY 2014 FY 2015 R&M-Waste Water Plant 82,093 26,338 45,000 11,876 8,483 20,359 15,000 Misc-Bad Debt 2,079 1,267 99 99 Misc-Licenses&Permits 5,375 4,375 4,500 6,375 6,375 6,375 Cap Outlay-Water Plant - 4,000 59,732 24,597 84,329 Cap Outlay-Waste Water Plant 20,000 20,000 20,000 50,796 Total Water-Sewer Comb Srvcs. 560,667 478,835 506,795 347,347 243,733 591,080 529,966 Debt Service Principal Debt Retirement - 514,758 - 514,758 514,758 532,827 Interest Expense 174,899 150,783 140,601 11,717 128,884 140,601 122,533 Total Debt Service 174,899 150,783 655,359 11,717 643,642 655,359 655,360 TOTAL OPERATING EXPENSES 1,215,363 1,256,672 1,305,202 451,781 934,159 1,385,940 1,330,563 Operating income(loss) (98,655) (22,389) - 470,958 (503,694) (32,736) (26,358) OTHER FINANCING SOURCES(USES) Interfund Transfer-In - - 368,000 368,000 - 368,000 Contribution to(Use of)Fund Balance - - - - 1 TOTAL OTHER SOURCES(USES) - 368,000 368,000 - 368,000 - Change in net assets (98,655) (22,389) 368,000 838,958 (503,694) 335,264 (26,358) TOTAL NET ASSETS,BEGINNING 7,647,201 7,548,546 7,494,536 7,494,536 - 7,494,536 7,829,800 TOTAL NET ASSETS,ENDING $7,548,546 $7,494,536 $7,862,536 $8,333,494 $(503,694) $7,829,800 $7,803,442 Annual Operating Budget Fiscal Year 2015 8 PORT OF THE ISLANDS Community Improvement District Water and Sewer Fund Budget Narrative Fiscal Year 2015 I 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 Budget Fiscal Year 2015 9 PORT OF THE ISLANDS Community Improvement District Water and Sewer Fund Budget Narrative Fiscal Year 2015 [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 FY2015 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. 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 2015 budget includes an estimated 10%increase of the actual FY 2014 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 FY2015 budget for collection costs was based on a maximum of 2%of the anticipated assessment collections. 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. Annual Operating Budget Fiscal Year 2015 10 PORT OF THE ISLANDS Community Improvement District Water and Sewer Fund Budget Narrative Fiscal Year 2015 EXPENDITURES 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-Generator Maintenance 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 Automated 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 Marts 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 Plant Repair and maintenance costs associated with the water plant. R&M—Waste Water Plant Repair and maintenance costs associated with the waste water plant. 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. Annual Operating Budget Fiscal Year 2015 11 PORT OF THE ISLANDS Community Improvement District Water and Sewer Fund Budget Narrative Fiscal Year 2015 EXPENDITURES Field (continued) Capital Outlay—Waste Water Plant Funds spent on capital improvement projects for the waste water plant. • Ww-23$30,796 SCADA AND CONTROL PANEL • 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 Budget Fiscal Year 2015 12 PORT OF THE ISLANDS Community Improvement District Debt Amortization Series 2010 Bond Period Coupon Debt Annual Debt Ending Principal Rate interest Service Service 11/1/2014 $,01,266.55 $61266.55 5/1/2015 $532,826.51 3.510% $61,266.55 $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 $42,236.12 542,236.12 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 11/1/2019 $11,111.55 $11,111.55 5/1/2020 $633,136.52 3.510% $11,111.55 $644,248.07 $655,359.62 Total 03,490,971.68 $441,186.02 $3,932,157.68 53.932,157.68 Annual Operating Budget Fiscal Year 2015 13 Port of the Islands Community Improvement District Supporting Budget Schedules Fiscal Year 2015 PORT OF THE ISLANDS Community Improvement District Port of the Islands Community Improvement District Non-Ad Valorem Assessment Roll FY 2014-2015 Product Main'.ERC Maint/ERC W/S ERC W/S Standby W/S Capital Total per Type Allocation $ 395 Allocation L $1,128 Product $417 $711 Hotel Room 1.00 $395 0.60 $250 $427 $1,073 Condo Unit 1.00 $395 0.80 $334 $569 $1,298 Single Family 1.00 $395 1.00 $417 $711 $1,524 Comparison FY 2014 to FY 2015 Product Total Total Increase % Type FY 2015 FY 2014 (Decrease) Change Hotel Room $1,073 $1,074 ($2) 0% Condo Unit $1,298 $1,299 ($1) 0% Single Family $1,524 $1,524 $0 0% Annual Operating Budget Fiscal Year 2015 14 PORT OF THE ISLANDS Community Improvement District All Funds Capital Improvement Program-Status Report Updated thru 4/30/14 ROADS PROGRAM PROJECT FY 2014 PAID IN FY PAID PROJECT NO. PROJECT NAME OR DESCRIPTION (II Izl INCEPTION TO FY 2015 FY 2016 FY 2017 FY 2018 STATUS ESTIMATE 2014 DATE to , ; 'Y . p` R4'4();i 0, m r w r %113 , . ♦ r: to s sa a , q N w as.. ,�i r..... ..:.. .I . . -�a // .�r"I ill` d .i Total General Fund $ 50,000 $ - $ $ - $ — $ • $ ti IRRIGATION PROGRAM I 1.9 IVFO Ire 76l1p pump $ $ $ $ $ $ $ - ST•tabled natal 1rnIgalian Program I$ -I$ - $ - $ - $ - $ -I$ WATER PROGRAM W-14A Construction of New Water Treatment Plant $ 25,200 $ 25,200 $ 4,409,326 $ - $ - $ - $ - HM Project 4 W-14B Inspection of New Water Treatment Plant $ - $ • $ 440,894 $ - $ - $ $ - HM Project New water meter replacement program to Include backflow prevention (Replace+/-20%per year W-15 for 4 years) $ 55,129 $ 34,532 $ 230,097 $ - $ - $ - $ - ST project W-19 Video surveillance and monitoring $ - $ • $ - $ - $ 10,000 $ - $ - ST project W-20 "Spare parts $ ".$ - $ - $ - $ - $ - $ -\ST project W-22 Fire hydrant raptor and roplaGament $ 4,000 $ $ 3,090 $ $ $ $ - ST project Total Water Program $ 84,329 $ 59,732 $ 5,083,406 $ • $ 10,000 S • $ - WASTEWATER PROGRAM combined W W-23 SCADA and control panel for lift stations $ - $ - $ 77,137 $ 30,796 $ 30,796 $ 30,796 $ • w/W W26 WW-24 MBA Membranes, $ 20,000 $... $ $ 20,000 $. 20,000 $. - $ - ST Total Wastewater Program $ 20,000 $ - $ 77,137 $ 50,796 S 50,796 $ 30,796 Total WateriSenslar Fund!$ 104,3291$ 59,732!$ 5,180,543 I$ 50,796 I$ 80,7981$ 30,796 I S NOTE The The amounts shown in the'FY 2014 ESTIMATE'columns reflect the most recent approximation of what the District expects to spend on each project between October 1,2013 and September 30,2014. NOTE 121: The amounts shown in the'PAID IN FY 2014'column reflects project expenses incurred between October 1,2013 and September 30,2014. The total of these columns will tie to the amounts reported as'Year to Date Actual-Capital Outlay'in the corresponding monthly financial statements. NOTE 131: The'PAID INCEPTION TO DATE'columns reflect any payments made between FY 2006 and present. 15 Annual Operating Budget Fiscal Year 2015 PORT OF THE ISLANDS Community Improvement District Utility Rates Proposed Proposed Proposed Current Rates 5%Increase 10%Increase 15%Increase WATER Commodity rates/1,000 gallon $ 2.33 $ 2.45 $ 2.56 $ 2.68 WASTE,WATER Commodity rates/1,000 gallon at 80%of water usage $ 4.77 $ 5.01 $ 5.25 $ 5.49 IRRIGATION WATER Residential Customer Class Irrigation Rate Monthly Consumption Tier(per 1,000 gallons) 0 to 10,000 gallons per month $ 1.00 $ 1.05 $ 1.10 $ 1.15 10,001 to 20,000 gallons per month $ 1.50 $ 1.58 $ 1.65 $ 1.73 20,001 to 30,000 gallons per month $ 2.00 $ 2.10 $ 2.20 $ 2.30 30,001 to 40,000 gallons per month $ 2.50 $ 2.63 $ 2.75 $ 2.88 Greater than 40,000 gallons per month $ 3.00 $ 3.15 $ 3.30 $ 3.45 Hotel,Commercial,and RV Customer Class Irrigation Rate Monthly Consumption Tier(per 1,000 gallons) 0 to 6,000 gallons per month/ERC $ 1.00 $ 1.05 $ 1.10 $ 1.15 6,001 to 12,000 gallons per month/ERC $ 1.50 $ 1.58 $ 1.65 $ 1.73 12,001 to 18,000 gallons per month/ERC $ 2.00 $ 2.10 $ 2.20 $ 2.30 18,001 to 24,000 gallons per month/ERC $ 2.50 $ 2.63 $ 2.75 $ 2.88 Greater than 24,000 gallons per month/ERC $ 3.00 $ 3.15 $ 3.30 $ 3.45 Report Date:5/16/2014 PORT OF THE ISLANDS Community Improvement District Proposed Utility Rate Increase Scenarios WATER AND SEWER ENTERPRISE FUND PROJECTED FY 2014 PROPOSED FY 2015 PROPOSED FY 2015 PROPOSED FY 2015 (5%utility rate Incr.) (10%utility rate incr.) (15%utility rate Incr) Total Revenues Assessments(Net)t't $1,110,636 $1,089,624 $1,089,624 $1,089,624 Meter Fees $2,500 $0 $0 $0 Water/Sewer/Irrigation Revenue(2) $230,615 $242,146 $253,677 $265,207 Interest/Miscetlaneous $9,452 $295.__. X295 $295 Total Revenues $1,353,203 $1,332,065 $1,343,596 $1,355,126 Total Expenses Personnel and Admin $139,501 $146,234 $146,234 $146,234 Water/Sewer Comb $591,080 $529,966 $529,966 $529,966 Debt Service $655,360 $655,360 $655,360 $655,360 Total Expenses $1,385,941 $1,331,560 $1,331,560 $1,331,560 Estimated Beginning Cash Balance $418,920 $ 418,920 $ 418,920 !Estimated Ending Cash Balance(3) $ 418,920 $419,425 $430,956 $442,487 Note t't:Projected FY15 assessments remain flat(same as budgeted in FY14). Not all budgeted discounts were taken in FY14. Note(2):Utility rate increases of 5%,10%and 15%are estimated to increase utility revenue by approximtely$11,500,$23,000 and$34,500 respectively. Note(3):Estimated FY14 ending cash balance includes amounts due from Hotel parcel. Report Date:5/7/2014 Swade, Janice From: Ron Benson <RonBenson @hmeng.com> Sent: Wednesday, May 14, 2014 5:25 PM To: Edge, Robert; 'Anthony Davis';dalelambert@embarqmail.com; DICK ZIKO [rcziko @embarqmail.com]; Norine&Joe [dillonpoi @embarqmail.com];Ted Bissell Cc: Dick, Robert;Teague,Calvin;Swade,Janice; Dan Cox; Debra Hogue; Dawn Barnard Subject: RE: May 2014 Field Managers Report Attachments: 3water resource summary thru apr 2014.pdf; 2water resource summary thru apr 2014.pdf; 1water resource summary thru apr 2014.pdf Here is a copy of the monthly water resource summary for April 2014. As can be seen from this information,the irrigation demand for April 2014 was similar to that for April 2013. Reuse of 100 percent of treated wastewater plus 100 percent of concentrate from the water treatment plant continues to result in significant savings in water which would otherwise need to be withdrawn from the wellfield. Also, irrigation demand even during the wet weather months is consistently greater than volume of treated wastewater and water treatment concentrate. Therefore,there is no concern regarding the CID needing to store reclaimed water in the storage pond adjacent to the gun club,although this pond is available in the event it were ever needed. Best wishes. Ron Ronald E. Benson,Jr., Ph.D., P.E. Senior Vice President/Principal Hole Montes, Inc. 950 Encore Way Naples, Florida 34110 (239)254-2000 (239)254-2098(fax) (239)777-1611(mobile) From: Edge, Robert[mailto:Robert.Edge @STServices.com] Sent: Wednesday, May 14, 2014 3:02 PM To: 'Anthony Davis'; dalelambert@embarqmail.com; DICK ZIKO [rcziko @embarqmail.com]; Norine&Joe [dillonpoi @embarqmail.com];Ted Bissell Cc: Dick, Robert;Teague, Calvin; Swade, Janice; Ron Benson Subject: May 2014 Field Managers Report To all:Attached is my Field Managers Report for 2014.See ya Friday! Robert Edge Severn Trent Services 0: 239-642-9219 F: 239-642-9469 C: 239-289-4829 Email: Robert,EdgenSTServices.com 1 • May 2014 Field Managers Report Water Treatment Plant Operations and Maintenance The Water Treatment Plant produced and distributed 2.319 MG for the month of April, which is an average of .077 MGD. Wastewater Plant Operations and Maintenance The WWTP treated approximately 1.812 MG for the month of April, which is an average of .060 MGD Reuse System Operations and Maintenance The reuse system delivered 8.560 MG for the month of April, which is an average of.285 MGD. Permit Compliance: Water Treatment Plant: *All permit requirements met Wastewater Treatment Plant *All permit requirements met In The Community: • Backflow preventer installation is complete. At Our Treatment Facility: • We replaced the gear reducer drive on the WWTP Influent Screen System (Rotomesh). • Lift Station #1 —Some electronic repairs had to be completed as radio controls were sending false signals back to the main PLC/SCADA system. 1 12600 Union Road Naples,Florida 34114•Tel 239-642-9219•Fax 239-642-9469•www.sevemtrentservices.com arotAC k a May 2014 Field Managers Report • Canal Pumping Station: The transformer caught on fire, causing damage to wires, etc. se ' �' Damage from Transformer Fire at Canal Pumping Station! NoT CMMS Work Order Report—April 2014 Summary Total#of WO's 272 Total#of Preventative 270 Total#of Corrective 2 Total#of WO's Completed 272 Total Hours 161 2 12600 Union Road Naples,Florida 34114•Tel 239-642-9219•Fax 239-642-9469•www.sevemtrentservices.com . . . . /0.6-11c ic 0 . .„...3 i May 2014 Field Managers Report Water Loss Reports wµ fThis report is the same as last month-will be revised by next meeting Potable Water Report 5- 45 4 3 5 c 3 2 034 22sii Z o6! 0 2 5 ^-7 132 3' i 2 143 2 324 .s.«-'-.,-----aY-,a...•.-" . 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E E o 3 3 3 ; E 0 � 3 •m$ a � v aao � v 0 33 Eoco 33 33 � 33 �o Swade, Janice From: Teague, Calvin Sent Wednesday, May 21,2014 5:40 AM To: Ron Benson Cc: Swade,Janice Subject: RE:POI 5/16/2014 CID meeting summary Attachments: image001.png Janice can you have them state this? Unless the recording doesn't support this but I understood it to be this way. Cal From: Ron Benson [mailto:RonBenson @hmeng.com] Sent: Monday, May 19, 2014 10:32 AM To:Teague, Calvin Subject: RE: POI 5/16/2014 CID meeting summary Cal Could you have the minutes say something like the following regarding the engineering rate issue? The Board approved use of the recently adopted Collier County rates for engineering services. The term for which these rates will apply will be the same as Collier County. In addition, Ron Benson clarified he will bill the CID his time at the rate of"Senior Project Manager,"which is$172 per hour,even though Collier County has him classified as"Principal"at a higher billing rate. Best wishes. Ron Ronald E. Benson,Jr., Ph.D., P.E. Senior Vice President/Principal Hole Montes, Inc. 950 Encore Way Naples, Florida 34110 (239)254-2000 (239)254-2098(fax) (239)777-1611(mobile) 1 SCHEDULE Title Principal Senior Project Manager Pro ect Manager Senior Engineer Engineer Senior Inspector Inspector Senior Planner Planner Senior Designer Oeslgner Environmental S serialist Senior Environmental Speclalis Scientist/Geologist 2 From:Teague, Calvin (mailto:Cal.Teague @STServices.com] Sent: Sunday, May 18, 2014 11:59 PM To: Anthony Davis; Dale Lambert; Dick Ziko(RCZIKO @EMBARQMAIL.COM); Norine&Joe;Ted Bissel (tbissell@embarqmail.com); Dan Cox; Ron Benson; Swade,Janice; Helena Randel; La Cap, Luvinia; Rehe, Stephanie; Pepin, Christopher; Egan, Michelle; Underwood, Bert; Howell, Laura; Celestin, Cindy; Rawlings, Gary; Edge, Robert; Adams,Tennille; Royer, Peggy Cc: Davis, Paula; Hodza, Rosemary; Baldwin,Alan; Bloom, Stephen; Dick, Robert; Varona, Rita; Branch Jr., Frank; Langston, Elizabeth; Carlson, Alice J. (alicecarlson @ajcassociates.com); Mack, Marcia Subject: POI 5/16/2014 CID meeting summary The following summary is for the above mentioned meeting,if anything is not as you remember please contact me so changes can be made.The purpose is to insure everyone has the same understanding of action taken and to be taken.The summary is as follows: • The meeting was called to order and all were present.Also in attendance was the Engineer Ron Benson,Attorney Dan Cox and Bert Underwood, Bob Dick, Bonnie Wiggins and Robert Edge from ST operations. • The minutes from the April 18, 2014 meeting was approved with one change on page 6. • There were no public comments. • The landscape maintenance report from Soto was reviewed and the BOS would like to have a proposal from Soto for trimming the coconut palms. • Supervisor Davis presented a recommended set of specifications for landscape maintenance which was discussed by the BOS. It was agreed that the Board,Dan and Robert would all review the specifications and send comments to me before the next meeting.This will be on the next agenda for further discussion. • The BOS approved an agreement with the Villages at Stella Maris to accept,through easement,the roads within the development but not the drainage systems. • Staff presented estimates for redesign of the traffic control measures at the Newport entrance which includes the real estate sales office and S. Hotel.A report and recommendation had been submitted by Supervisor Davis and Katherine Kehlmeier to staff which included stripping and sign replacement throughout much of the community,including changes to the Newport Road entrance.The BOS approved a not to exceed amount of$15,000 to make the changes presented but not to have the"islands" created as what was suggested. • The BOS discussed entering into a Memorandum of Understanding (MOU) with the Florida Forest Service to allow usage of the road running north from Union Road beyond the Utilities Department to access a proposed campground.The Attorney commented that a agreement wasn't needed since the road the CID has control of is a public road and available for usage by the public. If an easement was needed then that would be from Louland,the owner of the gun club.The DM is to write a letter regarding our position as stated by Dan but also to emphasize that the CID has well fields and they need to be sensitive to the impact their project could have on the well fields.Also they need to be aware that this area is protected by Collier County ordinance. • The financials were accepted as presented and the following questions or direction was given by the BOS: 1. Cindy,the BOS requested a better description of Fed Ex charges on the check register,if they were for operations or management services?We didn't see that this time can you make certain it is done? 3 • 2. The DM and Attorney reported that we feel that the funds in the construction fund could be used in the current fiscal year for lift station rehab. Dan has a call into the Trustee to discuss it. 3. A delinquent assessments report was presented by the DM and hopefully the unpaid assessments will be purchased during the tax certificate sale on May 30th. • The staff reported that there are now 477 registered voters within the CID. • The FY 2013 audit was accepted and the Chair authorized to sign the financial report. Helena the Board asked when the audit contract is up for renewal? • The FY 2015 proposed budget was established and a public hearing set for August 15th with the adoption of Resolution R-2014-05.The proposed budget has no assessment increases proposed. • The BOS discussed a utility rate increase and after reviewing options the BOS agreed to have a public hearing for rate setting with a proposed increase of 10%and an automatic annual CPI adjustment.The Public Hearing will be held on July 18th. • The Field Manager's report was presented and the following comments were made: 1. The BOS questioned leaky backflow preventers and is there potential to do the repairs in house? • The Attorney reported on the following: 1. That there wasn't anything new to report regarding the Motwani bankruptcy suite. 2. That the BOS might want to consider direct billing the assessments for the Motawani and P01 Reality properties.He will report back at the next meeting. • The BOS approved a billing rate structure based upon the Collier County engineering contract except for the rate charged for Ron,his billing rate will be a reduced rate at$175 per hour. • There was no Supervisor comments or requests made. • The meeting was adjourned at 12:50 pm Assignments before the next regular CDD Meeting June 20.2014 Follow up items • Dan to contact the Trustee seeking authorization for additional uses of the construction fund from the Trustee. • Robert and Tennille,we need to get bids for the revised scope of work for signage and stripping and the other changes at Newport. Tennille see me on this. • Helena or Cindy,we need to better define Fed Ex charges as identified above. • Tennille you will be coordinating packet preparation and distribution as identified at the last meeting. • Supervisors, Dan and Robert please review the landscape maintenance specifications and forward to me. • Tennille we need to write a letter regarding the MOU identified above. • Robert or Bob I assume you will be looking into the backflow questions? • Helena when is the audit contract up for renewal? • Dan contact the Trustee regarding use of the construction fund. Next Agenda • Newport Road traffic control and other traffic safety issues. • Landscape Maintenance performance review. • Landscape maintenance contract. • North Hotel Litigation. • Coconut Palm trimming bids. • Use of Constrcution Fund. 4 • Under Attorney,direct billing of some assessments. • Under Field Manager discussion of leaky backflow preventers. If I have forgotten or missed anything please let me know. Calvin Teague District Manager Severn Trent Management Services 5911 Country Lakes Road Fort Myers, FL 33905 T:239-245-7118 ext.301 F: 239-245-7120 M:239-223-4437 E:cal.teasue @stservices.com SUPERVISORS.PLEASE DO NOT REPLY TO ALL AS THIS COULD BE A VIOLATION OF THE FLORIDA SUNSHINE PROVISIONS. 5