FY14/15 Proposed Budget AVE MARIA STEWARDSHIP COMMUNITY DISTRICT
c/o Special District Services, Inc.
2501 Burns Road, Suite A
Palm Beach Gardens, Florida 33410
(561) 630-4922
Fax: (561) 630-4923
May 7, 2015
V
/ay
By
VIA CERTIFIED MAIL—
RETURN RECEIPT REQUESTED
Clerk of the Circuit Court
Collier County Courthouse
3315 Tamiami Trail East
Naples, Florida 34112-5324
Re: Ave Maria Stewardship Community District
To Whom It May Concern:
Pursuant to Florida law, enclosed please find a copy of the following document relative
to the above referenced Stewardship Community District:
1.) Proposed Budget Fiscal Year 2015/2016 (Oct. 1, 2015—Sept.30,2016)
Should you have any questions or comments,please do not hesitate to contact our office.
Sincerely,
SPECIAL DISTRICT SERVICES, INC.
Laura J. Arche
Enclosure
Ave Maria Stewardship
Community District
Proposed Budget For
Fiscal Year 2015/2016
October 1, 2015 - September 30, 2016
CONTENTS
I PROPOSED BUDGET
II DETAILED PROPOSED BUDGET
III DETAILED PROPOSED DEBT SERVICE FUND BUDGET
IV DETAILED PROPOSED MAINTENANCE BUDGET
V ASSESSMENT BREAKDOWN
4/30/2015 3:32 PM
PROPOSED BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT
FISCAL YEAR 2015/2016
October 1,2015-September 30,2016
FISCAL YEAR
2015/2016
REVENUES BUDGET
O & M ASSESSMENTS 483,437
DEBT ASSESSMENTS 974,704
DEVELOPER CONTRIBUTION FOR 0 & M 1,228,703
DEVELOPER CONTRIBUTION FOR DEBT 3,223,231
OTHER REVENUES 0
TOTAL REVENUES $ 5,910,075
EXPENDITURES
ADMINISTRATIVE EXPENDITURES
PAYROLL TAXES EXPENSE 612
SUPERVISORS FEES 8,000
ENGINEERING 50,000
MANAGEMENT 70,216
SECRETARIAL 4,500
LEGAL 30,000
ASSESSMENT ROLL 15,000
AUDIT FEES 8,200
ARBITRAGE REBATE FEE 1,500
TRAVEL & LODGING 1,000
INSURANCE 11,760
LEGAL ADVERTISING 1,500
MISCELLANEOUS 1,455
POSTAGE 1,750
OFFICE SUPPLIES 3,000
DUES, LICENSE, & SUBSCRIPTIONS 500
MISCELLANEOUS FILINGS, NOTICES, ETC. 1,000
WEBSITE HOSTING FEES 2,500
TRUSTEE FEES 13,000
CONTINUING DISCLOSURE FEE 5,000
METHODOLOGY REPORT 0
TOTAL ADMINISTRATIVE EXPENDITURES $ 230,493
MAINTENANCE EXPENDITURES
MAINTENANCE 1,445,389
MAINTENANCE/INSPECTIONS/ADMIN 0
TOTAL MAINTENANCE EXPENDITURES $ 1,445,389
TOTAL EXPENDITURES $ 1,675,882
EXCESS OR (SHORTFALL) $ 4,234,193
PAYMENT TO TRUSTEE $ (4,124,832)
BALANCE $ 109,361
COUNTY APPRAISER & TAX COLLECTOR COST (51,035)
DISCOUNTS FOR EARLY PAYMENTS (58,326)
NET EXCESS/(SHORTFALL) $ -
DETAILED PROPOSED BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT
FISCAL YEAR 2015/2016
October 1,2015-September 30,2016
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2013/2014 2014/2015 2015/2016
REVENUES ACTUAL BUDGET BUDGET COMMENTS
O&M ASSESSMENTS 452,706 483,437 483,437 See Detail on Page 5
DEBT ASSESSMENTS 854,129 974,704 974,704 See Detail on Page 5
DEVELOPER CONTRIBUTION FOR O&M 967,264 1,186,275 1,228,703
DEVELOPER CONTRIBUTION FOR DEBT 3,149,056 3,058,526 3,223,231
OTHER REVENUES 4,177 0 0
BOND PREPAYENTS RECEIVED 12,408 0 0
BOND PREPAYMENTS SENT TO TRUSTEE (12,408) 0 0
TOTAL REVENUES $ 5,427,333 $ 5,702,942 $ 5,910,075
EXPENDITURES
ADMINISTRATIVE EXPENDITURES
PAYROLL TAX EXPENSE 184 612 612 No Change From Previous Budget
SUPERVISORS FEES 2,400 8,000 8,000 No Change From Previous Budget
ENGINEERING 76,588 20,000 50,000 $30,000 Increase From Previous Budget
MANAGEMENT 55,000 70,216 70,216 No Change From Previous Budget
SECRETARIAL 2,000 4,500 4,500 No Change From Previous Budget
LEGAL 38,042 20,000 30,000 $10,000 Increase From Previous Budget
ASSESSMENT ROLL 15,000 15,000 15,000 No Change From Previous Budget
AUDIT FEES 7,900 8,200 8,200 No Change From Previous Budget
ARBITRAGE REBATE FEE 1,300 1,500 1,500 No Change From Previous Budget
TRAVEL&LODGING _ 0 1,550 1,000 $550 Decrease From Previous Budget
INSURANCE 10,256 11,282 11,760 $478 Increase From Previous Budget
LEGAL ADVERTISING _ _ 1,485 1,500 1,500 No Change From Previous Budget
MISCELLANEOUS 1,391 1,455 1,455 No Change From Previous Budget
POSTAGE 1,269 1,750 1,750 No Change From Previous Budget
OFFICE SUPPLIES 2,376 2,000 3,000 $1,000 Increase From Previous Budget
DUES,LICENSE,&SUBSCRIPTIONS 175 500 500 No Change From Previous Budget
MISCELLANEOUS FILINGS,NOTICES,ETC. 500 1,000 1,000 No Change From Previous Budget
WEBSITE HOSTING FEES 3,996 1,000 2,500 $1,500 Increase From Previous Budget
TRUSTEE FEES 10,775 13,000 13,000 No Change From Previous Budget
CONTINUING DISCLOSURE FEE 5,000 5,000 5,000 No Change From Previous Budget
METHODOLOGY REPORT 0 0 0 No Change From Previous Budget
TOTAL ADMINISTRATIVE EXPENDITURES $ 235,637 $ 188,065 $ 230,493
-
MAINTENANCE EXPENDITURES _
MAINTENANCE 1,106,567 1,445,389 1,445,389 Total Maintenance-See Detail On Page 4
MAINTENANCE/INSPECTIONS/ADMIN 0 0 0
TOTAL MAINTENANCE EXPENDITURES $ 1,106,567 $ 1,445,389 $ 1,445,389
TOTAL EXPENDITURES $ 1,342,205 $ 1,633,454 $ 1,675,882
EXCESS OR(SHORTFALL) $ 4,085,128 $ 4,069,488 $ 4,234,193
BOND PAYMENTS (3,958,849) $ (3,960,127) $ (4,124,832) 2016 P&I Payments
BALANCE $ 126,280 $ 109,361 $ 109,361
COUNTY APPRAISER&TAX COLLECTOR COST (37,793) (51,035) (51,035), 3.5%Of Total Roll(2%Appraiser,1.5%Collector)
DISCOUNTS FOR EARLY PAYMENTS (42,534) (58,326) (58,326) 4%Of Total Tax Roll
NET EXCESS/(SHORTFALL) $ 45,953 $ $ -
II
DETAILED PROPOSED DEBT SERVICE FUND BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT
FISCAL YEAR 2015/2016
October 1,2015-September 30,2016
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2013/2014 2014/2015 2015/2016
REVENUES ACTUALS BUDGET BUDGET COMMENTS
Interest Income('06 Bond) 0 0 0 DS Reserve Interest is now going to the Deferred Cost Account
Interest Income(12 Bond) 0 0 0 DS Reserve Interest is now going to the Deferred Cost Account
Net NAV Collection 809,803 901,601 901,601 Per Assessment Breakdown(page 5)less 7.5%for Discounts and Fees
Developer Contribution 3,149,046 3,058,526 3,223,231
Prepaid Bond Collection 12,408 0 0
Total Revenues $ 3,971,257 $ 3,960,127 $ 4,124,832
EXPENDITURES
Principal Payments('06 Bond) 485,000 515,000 540,000 2006 Bond Principal Payment Due In 2016
Interest Payments('06 Bond) 1,233,588 1,195,534 1,167,731 2006 Bond Interest Payments Due In 2016
Principal Payments('12 Bond) 335,000 355,000 380,000 2012 Bond Principal Payment Due In 2016
Interest Payments('12 Bond) 1,928,930 1,894,593 1,869,970 2012 Bond Interest Payments Due In 2016
Principal Payments('15 Bond) 0 0 35,000 2015 Bond Principal Payment Due In 2016
Interest Payments('15 Bond) 0 0 132,131 2015 Bond Interest Payments Due In 2016
Total Expenditures $ 3,982,518 $ 3,960,127 $ 4,124,832
Excess/(Shortfall) $ (11,260) $ - $ -
Series 2006 Bond Information
Original Par Amount= $26,245,000 Annual Principal Payments Due= May 1st
Interest Rate= 5.125% Annual Interest Payments Due= May 1st&November 1st
Issue Date= December 2006
Maturity Date= May 2038
Series 2012 Bond Information
Original Par Amount= $29,100,000 Annual Principal Payments Due= May 1st
Interest Rate= 6.700% Annual Interest Payments Due= May 1st&November 1st
Issue Date= June 2012
Maturity Date= May 2042
Series 2015 Bond Information
Original Par Amount= $2,530,000 Annual Principal Payments Due= May 1st
Interest Rate= 5.000%-5.375% Annual Interest Payments Due= May 1st&November 1st
Issue Date= March 2015
Maturity Date= May 2045
I I I
DETAILED PROPOSED MAINTENANCE BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT
FISCAL YEAR 2015/2016
October 1, 2015 -September 30, 2016
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2013/2014 2014/2015 2015/2016
ACTUAL BUDGET BUDGET
MAINTENANCE EXPENDITURES
ELECTRIC (STREETLIGHTS, LANDSCAPE) 76,136 90,000 90,000
STREET SWEEPING 0 5,000 5,000
STRIPING & TRAFFIC MARKINGS 32 35,000 25,000
STREET LIGHT MAINTENANCE 40,148 30,000 40,000
SIDEWALK/ CURB REPAIRS 6,823 9,000 12,000
LANDSCAPE MAINTENANCE (ROADWAY, ENTRIES):
MAINTENANCE CONTRACTS 430,345 500,000 470,000
TREE TRIMMING 12,748 29,000 40,389
STORM CLEANUP 7,300 41,000 40,000
PLANT REPLACEMENT 10,247 40,000 30,000
MULCH & MISCELLANEOUS 46,025 60,000 60,000
MISC. UTILITIES 60 5,000 5,000
ELECTRICITY 0 0 0
IRRIGATION WATER 71,450 80,000 80,000
IRRIGATION REPAIR 27,612 20,000 30,000
ENTRY FEATURE WATER 0 0 0
FOUNTAIN MAINTENANCE 3,025 10,000 10,000
RODENT/ PEST CONTROL 875 4,000 4,000
EQUIPMENT REPAIR 508 1,000 1,000
SIGNAGE REPAIR 4,875 8,000 8,000
WATER MANAGEMENT & DRAINAGE 1,450 3,000 3,000
STORM DRAIN CLEANING 0 5,000 5,000
DRAINAGE / LAKE MAINTENANCE/ LITTORALS 71,838 50,000 75,000
AERATORS 0 6,500 6,000
AQUATIC REPLACEMENTS 0 5,000 5,000
PRESERVE MAINTENANCE 43,340 104,000 80,000
TAXES & LICENSES 0 0 0
INSURANCE 0 0 0
SMALL TOOLS 0 3,000 3,000
MISCELLANEOUS MAINT. 0 0 0
MISC. REPAIRS 1,518 10,000 6,000
VEHICLE LEASE / FUEL / REPAIRS (MAINT TECH) 4,159 5,000 5,000
MOSQUITO CONTROL 74,174 80,000 80,000
FISH STOCKING 0 5,000 5,000
TEMP FIRE FACILITY OPERATING COSTS 58,500 65,000 65,000
ADMINISTRATIVE SUPPLIES 0 500 500
OFFICE LEASE 0 0 0
OFFICE UTILITIES 0 0 0
MAINTENANCE TECHNICIANS 58,914 65,000 65,000
BASE MANAGEMENT FEE 14,771 16,667 24,000
ADMIN PAYROLL 18,798 19,722 25,000
TOTAL MAINTENANCE EXPENDITURES $ 1,085,671 $ 1,410,389 $ 1,402,889
RESERVE FUND 20,896 20,000 27,500
CONTINGENCY FUND 0 15,000 15,000
TOTAL $ 1,106,567 $ 1,445,389 $ 1,445,389
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PROPOSED AVE MARIA UTILITY BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT
FISCAL YEAR 2015/2016
October 1, 2015 -September 30, 2016
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2013/2014 2014/2015 2015/2016
REVENUES ACTUAL BUDGET BUDGET COMMENTS
AMUC Income 336,489 270,000 354,000 Approximately 4/5 of Expenditures
Developer Contribution 108,333 130,000 90,000 Approximately 1/5 of Expenditures
Total Revenues $ 444,822 $ 400,000 $ 444,000
EXPENDITURES
OMI Operating Fee 266,391 252,000 282,000 Estimate of$23,500 per Month
AMUC Bulk Water Charge 151,867 148,000 162,000 Estimate of$13,500 per Month
Total Expenditures $ 418,259 $ 400,000 $ 444,000
Excess/(Shortfall) $ 26,563 $ - $ -
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