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04/17/2005 Agenda Port of the Islands Community Improvement District Board of Supervisors J.Anthony Davis,Chairman Calvin league,District Manager Norine Dillon,Vice Chairperson Daniel Cox,District Counsel Dale Lambert,Assistant Secretary Ronald Benson,District Engineer Theodore Bissell,Assistant Secretary Richard Ziko,Assistant Secretary Regular Meeting Agenda Friday,April 17,2015— 10:00 a.m. 1. Call to Order and Roll Call 2. Approval of the Minutes of the March 20,2015 Meeting r 3. Public Comment on Agenda Items By J 4. Old Business A. Review of Landscape Maintenance Performance i. Union Road Irrigation Extension ii. Entrance Lighting Fixtures 5. New Business A. Update on POI CID Website 6. District Manager's Report A. Approval of the March 31,2015 Financial Statements and Check Register B. Acceptance of the Fiscal Year 2014 Audit C. Discussion of Fiscal Year 2016 Budget D. Discussion of Follow-Up Items 7. Field Manager's Report A. Discussion of April 2015 Field Manager's Report B. Consideration to Paint Monuments 8. Attorney's Report A. Update on Hotel Bankruptcy Lawsuit 9. Engineer's Report 10. Supervisors' Requests 11. Public Comment Period 12. Closed Attorney/client Session(Supervisors and Attorney Only) A. Call to Order and Roll Call B. Commencement of Attorney/Client Session C. Adjournment of Attorney/Client Session 13. Recommencement of Regular Meeting 14. Adjournment The next meeting is scheduled for Friday,May 15,2015 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 ' C and S Irrigation Services,Inc Date Estimate# and . {fit,`{ �•� 2830 35th Ave.NE 04/16/2015 1663 C �/� . • \ 1 Naples„FL 34120 Irrigation Services, LLC ,t,,,„, /y �.i p Exp.Date s� `u Mr.4Ia4 (239)354-1080 Iila @sotolawn.com Address Port of the Islands CID cdd 210 University Drive#702 Coral Springs,FL 33071 Description Quantity Rate Amount • Part 1 Orchid Cove at Union Rd middle Island(2 zones) • 6 inch Pop up 70 12.25 857.50 • 1/2 Elbow 150 0.75 112.50 • Rollof funny pipe 1 37.50 37.50 • Nozzles 70 3.00 210.00 • 1'x 1/2 Elbow 4 3.00 12.00 • 1 by 1/2 inch Tee 18 2.07 37.26 • 11/4 x 1/2 28 1.64 45.92 • 11/2 x 1,/2 inch Tee 20 4.91 98.20 • 1/2 Tee 5 0.61 3.05 • 2 inch Elbow 6 3.50 21.00 • 2 inch Valve 2 150.00 300.00 • 2 Inch PVC Ball-Valve 2 25.00 50.00 • 2 inch Tee 2 3.59 7.18 • 2 inch Slip Flix 1 18.63 18.63 • 12 inch valve box. 2 61.45 122.90 • 2 inch Male Adapter 4 3.00 12.00 • 2 inch Pvc Pipe 200 0.96 192.00 • 11/2 Pvc Pipe 200 0.75 150.00 • 11/4 Pvc Pipe 400 0.70 280.00 • 1 inch PVC Pipe 400 0.55 220.00 • 11/4 Bushing SS 4 1.24 4.96 • 11/2 x 11/4 Bushing SS 6 1.31 7.86 • 2 x 1 1\2 Bushing SS 4 2.18 8.72 • Technician& assistant 16 95.00:. 1,520.00 ALL ESTIMATES MUST BE SIGNED AND Totall $4,32918; RETURNED PRIOR TO START OF WORK Accepted By Accepted Date rip l�} li C and S Irrigation Services,Inc Date Estimate# C and S - 't , 2830 35th Ave.NE 04/16/2015 1664 0,'. / Napier„FL 34120 Irrigation Services, LLC �Y Exp.Date !r; ,,p r,1�i/),, (239)354-1080 lila @sotolawn.com Address Port of the Islands CID cdd 210 University Drive#702 Coral Springs, FL 33071 Description Quantity Rate Amount • Part 2 Orchid Cove at Union Rd right side of entrance(will only cover 15'for rd.)rotors • Rotor Head 30 30.00 900.00 • 3/4 Elbow 60 0.75: 45.00 • 1'x 112 Elbow 2 3.00 6.00 • 1x1/2 Tee 5 2.47 12.35 • 11/4 x 1/2 13 1.64 21.32 • 11/2 x 1/2 inch Tee 13 4.91 63.83 • 11/2 Tee SSS 2 2.47 4.94 • 1 Inch Tee 2 1.30 2.60 • 2 inch 1/2 Tee 5 11.84 59.20 • 2 inch Valve 1 150.00 150.00 • 2 Inch PVC Ball-Valve 1 25.00 25.00 • 12 inch valve box. 1 61.45 61.45 • 2 inch Male Adapter 2 3.00; 6.00 • 2 inch Slip Flix 1 18.63 18.63 • 2 inch Pvc Pipe 100 0.96 96.00 • 11/2 Pvc Pipe 150 0.75 112.50 • 11/4 Pvc Pipe 200 0.70 140.00 • 1 inch PVC Pipe 260 0.55 143.00 • Rollof funny pipe 1 37.50 37.50 • 2 inch Elbow 3 3.50 10.50 • 2 x 11\2 Bushing SS 3 2.18 6.54 • 11/2 x 11/4 Bushing SS 2 1.31 2.62 • 11/4 Bushing SS 3 1.24 3.72 • Technician& assistant 13 95.00 1,235 00 ALL ESTIMATES MUST BE SIGNED AND Total, $3,163.701 RETURNED PRIOR TO START OF WORK Accepted By Accepted Date iI tlx C and S Irrigation Services,Inc Date Estimate# ,' P, 2830 35th Ave.NE C ands 1110 „ , 04/16/2015 1665 k`• E Naples„FL 34120 Irrigation Services, LLC I' A Exp,Date. 1, n/r.,4111a (239)354-1080 lila@sotolawn.com Address Port of the Islands CID cdd 210 University Drive#702 Coral Springs, FL 33071 Description - Quantity Hate >,Amount • Part 3 Orchid Cove far right side close to lake)rotor i • Rotor Head 25 30.00 750.00 • 3/4 Elbow 50 0.75 37.50 • Rollof funny pipe 1 37.50 37.50 • 1'x 1/2 Elbow 2 3.00 6.00 • 1 by 1/2 inch Tee 5 2.07 10.35 • 11/4 x 1/2 10 1.64 16.40 • 11/2 x 1/2 inch Tee 10 4.91 49.10 • 2 inch Elbow 4 3.50 14.00 • 2 inch Pvc Pipe 100 0.96 96.00 • 11/2 Pvc Pipe 200 0.75 150.00 • 11/4 Pvc Pipe 100 0.70 70.00 • 1 inch PVC Pipe 100 0.55 55.00 • 2 inch Valve 1 150.00 150.00 • 2 Inch PVC Ball-Valve 1 25.00 25.00 • 12 inch valve box. 1 61.45 61.45 • 2 inch Male Adapter 2 3.00 6.00 • 2 inch Slip Flix 1 18.63 18.63 • Technician& assistant 11 95.00 1,045.00 ALL ESTIMATES MUST BE SIGNED AND Total $2,597931 RETURNED PRIOR TO START OF WORK Accepted By Accepted Date ,� J dl ;i1E C and S Irrigation Services,Inc Date Estimate# C and S .�,�' r 11\��u''ii✓✓ 2830 35th Ave.NE 04/16/2015 1666 (/� t"t r �� 1 Naples„FL 34120 Irrigation Services, LLC 'A Exp.Date V4, UMW (239)354-1080 lila @sotolawn.com Address Port of the Islands CID cdd 210 University Drive#702 Coral Springs, FL 33071 Description Quantity Rate Amount • At Orchid Cove(must add with Part 1,part 2 or part 3) • 18.8 Wire 260 0.40; 104.00 • 6 Station-Module 1 102.00 102.00 ALL ESTIMATES MUST BE SIGNED AND Total $206.001 RETURNED PRIOR TO START OF WORK Accepted By Accepted Date 11.,.or: „,, ., 1 , --.'-4 4 .0, NL .0 ..... 01 '13 ,,,,o,„,,,,, . . ,......, ,, 4 , ----,” f '4 i k- ,lett, c1— • I ,-,- co * -"•11. ,.. IE., :: , 111'1.:. , .,• .,,, _31 . ,v :•_ . col.i.if, . , ttl,f, .i..,., 1,3' A -, -- ( i ,,..T., , . * ' 4 , -I '1 - - it./ . .. ' . . , - , _,.., ,• I 1 : , ' '.1 , , .1 „,, ,,, . i , '46 ,,. a '-'- 't3 ,v.' '0 ■.1')' o v E 0 na 0) a ''',.,' () 0 _,2 •E § g), -2- -- - -1-- Ei „ „,.. L. t6;, t ,,,3, •,,,a ,,,, 8 73 . `a' ''^-; ,'6 ,, t,- 6' .4. a, — — 0 ',...-11 , ■ ' - . u-,,, „h." ,5 ,)•,,, l', R. I.::: g. A , 4 , .. . . . . , . , . , ',,-.4 t, :.:• ... :::..t 16:c t:' if"' :-. ' , . ..,... 4 ,' i . . , t ■ ni o 0 7-1 01 ml 'a ., v V l,; ., -0 ..,,,. g z •;.-3 ;,,, c rtl '10 Pei w K1 — 43 E t= z • . -E. 2 ., CI ,E , , 'i- '46 8 -t. E '"'' '-'I., u .-„, 4 c, ' lir o di B 7,... —u° o x ,.-■ c a) i k aS V 0 0 41111, 12 1Z3C° 44.*M 4-.0 4,.t Z U 2 2 U < Pot thee JiPitetiftA 4 Home Intact _ Meeting Ceil€ttciar Minutes 8tudets ward of Supervisors CID Utility Information Tr W D iv.is,C. air+ an lutthon1 jadry .cc4tr 23233 haw*large.,«292 Announcements&Ftoj cts Napes,Fl.3411,4 239-430-9-315 Sa+t2 Term Expires:11./.291 Nerirse DiHrrt,Vice Cildrpe sort dillcras9ciPemharumsl.t m 129''I ernessCrie Naples.,FL 3411.4 239,6424,5E6 5-zt.1 Term Expires 11:22:5 Ted 2issell,AssistantSrrratare tbissellPernbarr~mail.ener 235 Stst ..Mare Crue bise4es,FL 34114 239-339-2127 Seal Term Expires:1' 2913 il;charri nu;,4:sis:ant Secretary !eaikaeembarama .tc.m 1E d'entzs Ca*: Naples,FL 34114 239.3E3-3549 Seat 5 Term Eacpires 1 2°'S Gale LamFert,As:::stentSterttary dalelambertPemharu,,rait.eam 293 5teita Mari;Drive South Naples,FL 34114 239-339-5936 "Seat 3 Term Expires:11/2913 Other Important Contacts Cabin Teague,Cistret iAartsger cal.teagueestserisces.meg Se ern Trent ManagemtartServices 5911 Curatry Lakes C+r e Fort k#iers,FL 33905 pitc-rte:r2391223-44,37 cfEce phone:,2391245. 1!3 ex+t 3111 fex:(2399 2:45-71211 fac tartEdge,Ulilite Manager nobert.edgefstserices,com Severn Trent&n<mnmerrtaA Services 12300 Ur nn Road Naples,FL 34114 cfEce 041arse:i233'239 41329 fat:123M 642-94619 Pott tete, irAloth eo$40/0,A#4,-4 e Out Home Meeting Calendar Contacts Meeting Calendar Minutes&Budgets NOTICE OF MEETINGS :ID rt Utility Information PORT OF TUE ISLAND'S COMMUNITY IMPROVEMENT DISTRICT Announcements&Projects The Camel of Supervisors of the Fort of the Islands Community linfroveenent Distrl s Mill hold their meetings for Fitcat year 2015 at the Orchid Cove fi'Iubhoese;25005 Pe atic/c:k Lana;r+aple., Florida at 10.00 a,est.en tr+e thlres Fplay of each month at fotl/ws, Cr ober 17;2014 r A,9.er4 November 21,2014-Ag n& December 19,2014.Menem January 10,k.015 Agen51$ February 20, I015-P,.agn fa March 221,2015•Agenda April I 7,2015•q i$ May 15,2015 .lure 1 g,2015 July 17,2015 August /,2015 September 18,2015 There may be acoaaians when one or Supervisors will be Participating by telephone.At the above locations there wilt be present a speaker telephone so that any interested party can attend the meeting and be fully informed of the discussions taking place. Any person requiring special accommodations at any of these meetings because of disability or ph•yslcat impairment sho.ld contact the District Office at 1854±753-5841 at least two 121 calendar/lays prior to the meeting Each person who decides to appeal any action taken:at these meetings is advised that they will need a record of the proceedings and that accordingly.,the person may need to ensure that a verbatern record of the proceedings is made incholing the testimony and evidence upon which such appeal is TO be based- I 1 m m rn m m rr5 m m m I1 m rn m I r� .=',. rw w» � rw w .�, N - �- 00 of Vf tT hw - Os ((NI N ;a r. m •r u, a h of al 0 = I , ,e) 4;1 1 i g ns cl. Ia. t t c t • ."3 1 = in ix N I a' Cae' 17g2 i): L !il I . . 0 tx — , 13 a) 0 1 re B : c3.4: g 1 ;r2 ,- g _E o a = E . = O e4 0 6 1■••■• . a n u U " 'V g M 1..... I ..... c.4 .(10 = 117 ...... rtS It 1 1 = 6. 6. 6. V 41 • 6. 4 il.) 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F, 5 ,,,, gl / gb . :.,; ? -s .6 .t. a g l' P- E.' 0 0 0 a < ,.. 4,3 6 t Z 42 a, al 1, : ': : 61 1 rz.:8 ,,,i le, .6„ 1 1- 2,, 1 : : 3: ee' 'e a -g ic" V, MI 'c'' gr,, I 4-1 i C i 1 cu { u 1 44g us g w "t 1— '' •"' f 'V rc W 1 e EL . k ,T0 F„, .§ f, p, --6 p w -t1 • ; `'' 1 1 2 i 1 aE' ..ti .,'. t ,g 6 gi 2 4.6, Lffl p,.: s .5- -0„, ,t1 , I:. 4 oil 4 .... tis .g ,y21 4•*+.) 0 C*4 0 rcl ...e. 4 t' 1 c 1 .... v.- I rA ?-' -ws 5 cu .... .. I.. 141 4.■ t a a to It it42 40; ,,,..,.... .4 ......, 1 ck. Agenda Page 19 Port of the Islands Community Improvement District Financial Report March 31,2015 Prepared by SEVERN TRENT SLNVIC ES Agenda Page 20 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 Trend Report Page 4 Enterprise Fund Statement of Revenues,Expenditures and Changes in Fund Balance............... Page 5-6 Trend Report Page 7 .............................................. SUPPORTING SCHEDULES Check Register Page 8-9 Special Assessments-Collection Schedule Page 10 Construction Schedule Page 11 -13 CIP Status Report Page 14-15 Cash Flow Projections Page 16-17 Cash Flow Projections-5 year Page 18 Monthly Activity Report Page 19-24 Accounts Receivable Ageing Report(901-days outstanding).......................................... Page 25-26 Repair and Maintenance Detail Reports Page 27-29 PORT OF THE ISLANDS Agenda Page 22 Community Improvement District Governmental and Enterprise Funds Balance Sheet March 31,2015 GENERAL WATER AND ACCOUNT DESCRIPTION FUND SEWER FUND TOTAL ASSETS Current Assets Cash-Checking Account $ 425,241 $ 256,229 $ 681,470 Accounts Receivable 884 - 884 Assessments Receivable 231,351 635,492 866,843 Allow-Doubtful Collections (231,351) (635,492) (866,843) Due From Other Funds - 29,965 29,965 Investments: Money Market Account 571,419 6,766 578,185 Construction Fund - 108,420 108,420 Prepaid Items 2,036 2,036 4,072 Total Current Assets 999,580 403,416 1,402,996 Noncurrent Assets Fixed Assets Land - 293,061 293,061 Infrastructure - 15,321,761 15,321,761 Accum Depr-Infrastructure - (4,543,538) (4,543,538) Equipment and Furniture - 327,167 327,167 Accum Depr-Equip/Furniture - (101,000) (101,000) Construction Work In Process - 3,090 3,090 Total Noncurrent Assets - 11,300,541 11,300,541 TOTAL ASSETS $ 999,580 $11,703,957 $12,703,5371 LIABILITIES Current Liabilities Accounts Payable $ 3,593 $ 4,534 $ 8,127 Accrued Expenses 900 900 1,800 Deposits - 34,300 34,300 Other Current Liabilities 6,064 6,064 Revenue Bonds Payable-Current - 532,827 532,827 Due To Other Funds 29,965 - 29,965 Total Current Liabilities 34,458 578,625 613,083 Long-Term Liabilities Revenue Bends Payable-LT - 2,958,145 2,958.145 Total Long-Term Liabilities - 2,958,145 2,958,145 TOTAL LIABILITIES 34,458 3,536,770 .3,571,228 Report Date:4/2/2015 1 Agenda Page 23 PORT OF THE ISLANDS Community Improvement District Governmental and Enterprise Funds Balance Sheet March 31,2015 GENERAL WATER AND ACCOUNT DESCRIPTION FUND SEWER FUND TOTAL FUND BALANCES/NET ASSETS Fund Balances Nonspendable: Prepaid Items 2,036 - 2,036 Assigned to: Operating Reserves 103,881 - 103,881 Unassigned: 859,205 - 859,205 Net Assets Invested in capital assets, net of related debt - 7,809,570 7,809,570 Unrestricted/Unreserved - 357,617 357,617 TOTAL FUND BALANCES/NET ASSETS $ 965,122 $ 8,167,187 $ 9,132,3091 [TOTAL LIABILITIES&FUND BALANCES/NET ASSETS $ 999,580 $11,703,957 $12,703,537j Report Date:4/2/2015 2 Agenda Page 24 PORT OF THE ISLANDS Community Improvement District General Fund Statement of Revenues,Expenditures and Changes in Fund Balances For the Period Ending March 31,2015 YTD ACTUAL AMENDED YEAR TO DATE YEAR TO DATE VARIANCE(9) AS A%OF MAR-15 ACCOUNT DESCRIPTION BUDGET BUDGET ACTUAL FAV(UNFAV) AMENDED BUD ACTUAL REVENUES Interest Investments $ 2,153 $ 1,076 $ 884 $ (192) 41.06% $ 78 Interest-Tax Collector - - 22 22 0.00% - Special Assmnts-Tax Collector 430,597 358,831 306,086 (52,745) 71.08% 46,587 Special Assmnts-Discounts (17,224) (14,355) (9,818) 4,537 57.00% Other Miscellaneous Revenues - - 1,870 1,870 0.00% 'TOTAL REVENUES 415,526 345,552 299,044 (46,508) 71.97% 46,665_ EXPENDITURES Administration PIP-Board of Supervisors 7,000 3,500 2,900 600 41.43% 500 FICA Taxes 536 268 222 46 41.42% 38 ProfServ-Engineering 26,000 13,000 4,628 8,372 17.80% 817 ProfServ-Legal Services 14,000 7,000 6,000 1,00D 42.86% 341 ProfServ-Mgmt Consulting Seri/ 30,092 15,046 15,046 - 50.00% 2,508 ProfServ-Property Appraiser 6,459 6,459 6,460 (1) 100.02% - ProfServ-Special Assessment 9,806 9,806 9,806 - 100.00% - Auditing Services 3,500 3,500 - 3,500 0.00% - Postage and Freight 1,200 600 159 441 13.25% 12 Rental-Meeting Room 350 175 150 25 42.80% 25 Insurance-General Liability 8,786 4,393 4,072 321 46.35% - Printing and Binding 1,300 650 143 507 11.00% 18 Legal Advertising 1,000 500 162 338 16.20% - Miscellaneous Services 1,380 690 338 352 24.49% 45 Misc-Assessmnt Collection Cost 8,612 7,177 4,994 2,183 57.99% - Misc-Web Hosting 1,000 500 425 75 42.50% 71 Office Supplies 500 250 14 236 2.80% 14 Annual D:slrict Filing Fee 175 175 175 - 100.00% Total Administration 121,696 73,689 55,694 17,995 45.76% 4,389 Field Contracts-Mgmt Services 100,000 50,000 50,000 - 50.00% 8,333 Contracts-Landscape 82,830 41,415 41,415 - 50.00% 6,902 Electricity-Streetlighting 19.000 9,500 7,437 2,063 39.14% 1,094 Utility-Irrigation 17,000 8,502 7,644 858 44.96% 1,395 R&M-Renewal and Replacement 70,000 35,000 840 34,160 1.20% - R&M-Roads 8 Alleyways 4,000 2,000 19,000 (17,000) 475.00% - R&M-Signage 1,000 500 84 416 8,40% 84 Total Field 293,830 146,917 126,420 20,497 43.02% 17,808 TOTAL EXPENDITURES 415,526 220,606 182,114 38,492 43.83% 22,197 Excess(deficiency)of revenues Over(under)expenditures - 124,946 116,930 (8,016) 0.00% 24,468 Net change in fund balance $ - $ 124,946 $ 116,930 $ (8,016) 0.00% $ 24,468 FUND BALANCE,BEGINNING(OCT 1,2014) 848,192 848,192 848,192 FUND BALANCE,ENDING $ 848,192 $ 973,138 $ 985,122 Report Date:4/2/2015 3 Agenda Page 25 PORT OF THE ISLANDS Community Improvement District Trend Report-General Fund Statement of Revenues,Expenditures and Changes in Fund Balances For the Period Ending March 31,2015 I TOTAL Oct Nov Dec Jan Feb Mar Actual Thru Adopted Account Description Actual Actual Actual Actual Actual Actual 313112015 Budget Revenues Interest-Investments $ 163 $ 134 5 136 $ 165 $ 208 $ 78 $ 884 $ 2,153 Special Assmnts-Tax Collector 3,831 116,349 110,898 19,827 8593 46,587 306086 430,597 Special Assmnts-Discounts (201) (4847) (4,314) (528) (128) - (9818) (17224) Total Revenues 3,793 111,836 108,590 19,464 8,895 46,665 299,044 415,526 Expenditures Administrative P/R-Board of Supervisors 400 600 500 500 400 500 2,900 7,000 FICA Taxes 31 46 38 38 31 38 222 536 ProfServ-Engineering - 1,500 419 1,536 356 817 4,628 26,000 ProtServ-Legal Services - 2,213 48 2,690 709 341 6,000 14,000 ProfServ-Mgmt Consulting Sery 2,508 2,508 2,508 2,508 2,508 2,506 15,046 30,092 ProfServ.Property Appraiser 4,758 - - 1,702 - 8460 6,459 ProfServ-Special Assessment 9,806 - 9,808 9,806 Postage and Freight 12 83 31 7 13 12 159 1,200 Rental-Meeting Room 25 25 25 25 25 25 150 350 Insurance-General Liability 2,036 - - 2,036 - - 4,072 8786 Printing and Binding 31 - 52 25 17 18 143 1,300 Legal Advertising 162 - - - - - 162 1,000 Miscellaneous Services 122 83 72 1 18 45 338 1,380 Misc-Assessmnt Collection Cost 73 2,234 2,132 386 169 - 4,994 8,612 Misc-Web Hosting 71 71 71 71 71 71 425 1,000 Office Supplies - - - 14 14 500 Annual District Filing Fee 175 - - - - 175 175 Total Administrative 10,404 9,363 15,702 9,823 8017 4,389 55,694 121,696 5 Contracts-Mgmt Services 8,333 8,333 8,333 8,333 8,333 8,333 50,000 100,000 Contracts-Landscape 6,902 6,902 8902 6802 6802 6,902 41,415 82,830 Electricity-Streetlighting 1,272 1,273 1,273 1,263 1,262 1,094 7,437 19,000 Utility-Irrigation 1205 1,156 917 1,552 1,419 1,395 7,644 17800 R&M Renewal and Replacement 350 - (360) 850 _ - 840 70 000 R&M-Roads&Alleyways _ - - - 19,000 - 19,000 4,000 R&M Signage - - - - 84 84 1,000 Total Field 18,062 17,664 17,065 18,900 36,916 17,808 126,420 293,830 Total Expenditures 28,466 27,027 32,767 28,723 42,933 22,197 182,114 415,526 Excess(deficiency)of revenues Over(under)expenditures $ (24,673) $ 84,809 $ 75823 $ (9,259) $ (34,238) $ 24,468 116,930 - FUND BALANCE,BEGINNING(OCT 1,2014) 848,192 848,192 FUND BALANCE,ENDING $ 965,122 $ 848,192 Report Date:4/2/2015 4 PORT OF THE ISLANDS Agenda Page 26 Community Improvement District Water And Sewer Fund Statement of Revenues,Expenses and Changes in Net Assets For the Period Ending March 31,2015 YTD ACTUAL AMENDED YEAR TO DATE YEAR TO DATE VARIANCE($) AS A%OF MAR-15 ACCOUNT DESCRIPTION BUDGET BUDGET ACTUAL FAV(UNFAV) AMENDED BUD ACTUAL OPERATING REVENUES Interest-Investments $ 285 $ 143 $ 74 $ (69) 25.96% $ - Water Revenue 53,700 26,850 26,492 (358) 49.33% 5,279 Sewer Revenue 81,200 40,600 38,430 (2,170) 47.33% 7,912 Irrigation Fees 110,900 55,450 54,431 (1,019) 49.08% 10,198 Special Assmnts-Tax Collector 1,139,500 949,583 770,301 (179,282) 67.60% 117,242 Special Assmnts-Discounts (45,580) (37,983) (24,707) 13,276 54.21% - Other Miscellaneous Revenues - - 2,121 2,121 0.00% 325 TOTAL OPERATING REVENUES 1,340,005 1,034,643 867,142 (167,501) 64.71% 140,956 I OPERATING EXPENSES Personnel and Administration P/R-Board of Supervisors 7,000 3,500 2,900 600 41.43% 500 FICA Taxes 536 268 222 46 41.42% 38 ProfServ-Engineering 26,000 13,000 4,628 8,372 17.80% 817 ProfSery-Legal Services 14,000 7,000 6,000 1,000 42.86% 341 ProfServ-Mgmt Consulting Sery 30,216 15,108 15,108 - 50.00% 2,518 ProfServ-Property Appraiser 17,093 17,093 17,096 (3) 100.02% ProfServ-Special Assessment 8,366 8,366 8,368 - 100.00% - Auditing Services 3,500 3,500 - 3,500 0.00% - Postage and Freight 1,200 600 509 91 42.42% 150 Rental Meeting Room 350 175 150 25 42.86% 25 Insurance-General Liability 8,786 4,393 4,072 321 46.35% - Printing and Binding 1,300 650 143 507 11.00% 18 Legal Advertising 1,000 500 162 338 16.20% - Miscellaneous Services 2,600 1,300 897 403 34.50% 157 Misc-Assessmnt Collection Cost 22,790 18,992 12,567 6,425 55.14% - Oftice Supplies 500 250 14 236 2.80% 14 Total Personnel and Administration 145,237 94,695 72,834 21,861 50.15% 4,578 Water-Sewer Comb Services Contracts-Mgmt Services 309,533 154,767 154,766 1 50.00% 25,794 Contracts-Generator Maint 1,750 - 551 (551) 31.49% Communication-Teleph-Field 4,512 2,256 2,240 18 49.65% 233 Utility -General 87,000 43,500 41,901 1,599 48.16% 7,437 R&M-Irrigation 35,000 17,500 2,384 15,116 6.81% 1,221 R&M-Lift Station - 109 (109) 0.00% R&M-Potable Water Lines - 4,331 (4,331) 0.00% - R&M-Water Plant 20,000 10,000 12,591 (2,591) 62.96% 3,456 R&M-Waste Water Plant 15,000 7,500 (3,418) 10,918 -22.79% 783 R&M-Sewer Lines - - 1,271 (1,271) 0.00% 672 R&M-BackFlOw Inspection - - 240 (240) 0.00% - Misc-Licenses&Permits 7,375 6,375 - 6,375 0.00% - Cap Outlay-Waste Water Plant 50,796 25,398 18,764 6,634 36.94% 10,063 Total Water-Sewer Comb Services 530,966 267,296 235,730 31,566 44.40% 49,659 Report Date:4/2/2015 5 Agenda Page 27 PORT OF THE ISLANDS Community Improvement District Water And Sewer Fund Statement of Revenues,Expenses and Changes in Net Assets For the Period Ending March 31,2015 YTD ACTUAL AMENDED YEAR TO DATE YEAR TO DATE VARIANCE($) AS A%OF MAR-15 ACCOUNT DESCRIPTION BUDGET BUDGET ACTUAL FAV(UNFAV) AMENDED BUD ACTUAL Debt Service Principal Debt Retirement 532,627 - - - 0.00% - Interest Expense 122,533 61,267 10,211 51,056 8.33% - Total Debt Service 655,360 61,267 10,211 51,056 1.56% - TOTAL OPERATING EXPENSES 1,331,563 423,258 318,775 104,483 23.94% 54,237 Operating income(loss) 8,442 611,385 548,367 (63,018) 6495.70% 86,719 Change in net assets $ 8,442 $ 611,385 $ 548,367 $ (63,018) 6495.70% $ 86,719 TOTAL NET ASSETS,BEGINNING(OCT 1,2014) 7,618,820 7,618,820 7,618,820 TOTAL NET ASSETS,ENDING $ 7,627,262 $ 8,230,205 $ 8,167,187 Report Date:4/2/2015 6 PORT OF THE ISLANDS Agenda Page 28 Community Improvement District Trend Report-Water And Sewer Fund Statement of Revenues,Expenses and Changes in Net Assets For the Period Ending March 31,2015 TOTAL Oct Nov Dec Jan Feb Mar Actual Thru Adopted Account Description Actual Actual Actual Actual Actual Actual 313112015 Budget Operating Revenues Interest-Investments $ 16 $ 15 $ 16 $ 16 $ 13 $ - $ 74 $ 285 Water Revenue 2675 3640 3,914 5,375 5,409 5,279 26,492 53,700 Sewer Revenue 4,255 5,145 5,471 7,727 7,920 7,912 38,430 81,200 Irrigation Fees 6,581 7,944 8,768 10,414 10,527 10,198 54,431 110,900 Special Assmnts-Tax Collector 9,642 292,806 279,088 49,897 21626 117,242 770,301 1,139,500 Special Assmnts-Discounts (506) (11,694) (10,856) (1,329) (322) - (24,707) (45,580) Total Operating Revenues 23,088 298,181 286,662 72,625 45,633 140,956 867,142 1,340,005 Operating Expenses Personnel and Administration P/R-Board of Supervisors 400 600 500 500 400 500 2,900 7,000 FICA Taxes 31 48 38 313 31 38 1.12 536 ProfServ-Engineering - 1,500 419 1,536 356 817 4,628 26,000 ProfServ-Legal Services - 2,213 , 48 2,690 709 341 6,000 14,000 ProfServ-Mgmt Consulting Sent 2,518 2,518 2,518 2,518 2,518 2,518 15,108 30,216 ProfServ-Property Appraiser 12,866 - - - 4,231 - 17,096 17,093 ProfServ-Special Assessment - - 8,366 - - - 8,366 8,366 Postage and Freight 12 83 61 190 13 150 509 1,200 Rental-Meeting Room 25 25 25 25 25 25 150 350 Insurance-General Liabiltly 2,036 - - 2,036 - - 4,072 8,786 Printing and Binding 31 - 52 25 17 18 143 1,300 Legal Advertising 162 - - 162 1,000 Miscellaneous Services 227 122 109 156 127 157 897 2,600 Misc-Assessmnt Collection Cost 183 5,622 5,365 971 426 - 12,567 22,790 Office Supplies - - - - - 14 14 500 Total Personnel and Administration 18,491 12,729 17,501 10,685 8,853 4,578 72,834 145,237 Water-Sewer Comb Services Contracts-Mgmt Services 25,794 25,794 25,794 25,794 25,794 25,794 154,766 309,533 Contracts-Generator Maint 551 - - - 551 1,750 Communication-Teleph-Field 913 267 283 274 270 233 2,240 4,512 Utility-General 6,201 6,493 6,959 7,322 7,488 7,437 41,901 87600 R&M-Irrigation 245 - 72 846 - 1,221 2,384 35,000 R&M-Water Plant - 8,450 3,327 (2,556) (86) 3,456 12,591 20,000 R&M-Waste Water Plant - - (4,698) 498 - 783 (3,418) 15,000 Misc-L tenses&Permits - - - - - - - 7,375 Cap Outlay-Waste Water Plant - - - - 8,700 10,063 18,764 50,796 Total Water-Sewer Comb Services 37,484 41,004 32,288 32,178 43,114 49,659 235,730 530,966 Debt Service Principal Debt Retirement - - - - 532,827 Interest Expense - 10,211 - - - - 10,211 122,533 Total Debt Service - 10,211 - - - - 10,211 655,360 Total Operating Expenses 55,975 63,944 49,789 42,883 51,967 54,237 318,775 1,331,563 Operating income(loss) $ (32,887) $ 234,237 $236,873 $ 29,762 $ (6,334) $ 86,719 548,367 8,442 TOTAL NET ASSETS,BEGINNING(OCT 1,2014) 7,618,820 7,618,820 TOTAL NET ASSETS,ENDING $ 8,167,187 $7,627,262 Report Date:4/2/2015 7 Agenda Page 29 Port of the Islands Community Improvement District Supporting Schedules March 31, 2015 S N ONO S M M V N - 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W 0 Ci0 Z 2 Z m O O W _U _U _U 4 O J m U J ZZaa�ZZ > > j (d( pp a U j (Kaj 0 Z> z w U O X z N W W Z W W W m D 1.1 Y _, 0 Z < F Z 1 1 - Y X X U } w til (J8 � � 3 � o ° Z � U � ° 688 DOJW2 ° _ = QLL ~ ~ g oo w 0 $ z ~ 0 8 -. ± a5 � g c ° O p O O U $ d W z Z ~ W 2 rc z ' d d J� o > LL z• m N '. zd °w 5 Zi �u o w w w w p a 6 0 F. w o s o a .6 lZl((1 Zd 7d w J,g g 5' 211 O 0 O w f/7 m m J h- 0 a' Z LC w d m J m N a U 0 0 0 LL LL o o Y 0 N in io cn m us N m N co m co in m m io n N N co O us co n co N N co N co N LO in as o 0 Q M G Zm3 ola� al3 33uZNN NNNN 3solmoo $ rn � a 3 3 a3r3so °E Z ro m m o, m o o o, , o 0 0 0 0 0 0 N 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4 D 3 o 0 0 0 0 0 0 0 o c 0 T LL O J g p (p N O m m A A V ^ N 17 Ni N N p p N p @ N [ N O [ (C W W a F2 8 88 8 808 8 88 8 00000 ; QV < ° ° ° V- ° ° ° ° < ° ° Q a u. i 4 % 4 4 2 8 8 24q # § / = 0 / 4e8 3 \ s ¥ cu 2 a a " ~ - f 7 ; cn 2 q ) \ ) / 7 § § \ $ 1 2 !� k ) k ; SSK ; , 7 ! $ I - § ; ! ! 1 s Lit A , . ; § - tu- , J - : ` \ { \� . y ' 3 ) ! § ) ! $ § 28 LI ) i co e ( k [ ! ® ce HI b§ )EO ( § )( DODD d cu 0 / 63 ) 63 ) a - / \ 2 ) ) i . ,2/ u - i I © k ) } ) k ) k - § § § \ % ( \ ( § ) § \ [ Q \ Q > 5 § § § 7 ) % 272 # # 42 # f§ § § § § § § I A2 „ ! 2 , ! z § ) ( k ( ) ( ) \ ! § } § § % § § ) § \ Y / () ) / § ) § k ! ! ! \ ! )\ ( \> /k ) ( §( \ © & $ 6alaaaaaaa 7 � 44 » § 44 § m § q ) 0 / 2 \ 2222222 \ ® ƒ ao 1 ° - ,7 , , , , , , , ` , a 0000 _ , _ „ Agenda Page 32 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 2015 ALLOCATION BY FUND DISCOUNT/ GROSS DATE NET AMOUNT (PENALTIES) COLLECTION AMOUNT GENERAL WATER/SEWER RECEIVED RECEIVED AMOUNT COSTS RECEIVED FUND FUND Assessments Levied FY 2015" $ 1,174,931 $ 334,109 $ 840,822 Allocation% 100% 28% 72% 10/30/14 $ 12,510 $ 707 $ 255 $ 13,473 $ 3,831 $ 9,642 11/14/14 $ 70,133 $ 2,955 $ 1,431 $ 74,519 $ 21,190 $ 53,328 11/25/14 $ 314,825 $ 13,386 $ 6,425 $ 334,636 $ 95,159 $ 239,477 12/12/14 $ 336,730 $ 14,178 $ 6,872 $ 357,780 $ 101,740 $ 256,040 12/31/14 $ 30,590 $ 992 $ 624 $ 32,206 $ 9,158 $ 23,048 01/29/15 $ 66,510 $ 1,857 $ 1,357 $ 69,724 $ 19,827 $ 49,897 02/27/15 $ 29,174 $ 449 $ 595 $ 30,219 $ 8,593 $ 21,626 03/31/15 $ 163,830 $ - $ - $ 163,830 $ 46,587 $ 117,242 TOTAL $ 1,024,302 $ 34,525 $ 17,561 $ 1,076,387 $ 306,086 $ 770,301 T.Collected 91.61% 91.61% 91.61% TOTAL OUTSTANDING $ 98,544 $ 28,022 1$ 70,521 *Discounts and collection costs taken in the 3/31 distribution were not availabe as of the date of this report. Once this information is received,an adjustment will be made and reflected in the next set of financial statements. 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 1056920500 POI Hotel 119,638 bankruptcy FY 2014 1058920500 POI Hotel 119,637 FY 2.014 1058920005 POI Realty LLC 268,677 Total Delinquent Parcels 866,844 Note" Three parcels were billed off rot subsequent to budget adoption. Report Date;4/2/2015 10 Agenda Page 33 PORT OF THE ISLANDS Community Improvement District Series 2010 Special Assessment Revenue Bond 1.Recap of Capital Project Fund Activity Through March 31,2015 Bond Issued(Construction Account) $ 5,500,000 Source of Funds:Interest Earned $ 8,577 Use of Funds: COI $ (42,700) COI(costs transferred to checking account) $ (5,000) Disbursements: Water Treatment Plant $ (5,333,694) Disbursements: Lift Station Rehab $ (18,764) $ (5,400,157) Adjusted Balance in Construction Account March 31,2015 $ 108,420 2.Funds Available For Construction at March 31,2015 Book Balance of Construction Account at March 31,2015 $ 108,420 Construction Funds available at March 31,2015 $ 108,420 3.Investments-BB&T at March 31,2015 Estimated Type Yield Principal Construction Fund: 0.12% $ 108,420 ADJ:Outstanding Amounts Due $ - Balance at March 31,2015 $ 108,420 4. General Bond Information Issued: 2010 Matures: 2020 Bond Interest Rate: 3.51% FY 2015 budgeted bond payment as%of gross assessments(water/sewer fund): 57% Report Date:4/2/2015 11 Agenda Page 34 PORT OF THE ISLANDS Community Improvement District Construction Schedule IAMOUNT OF CAPITAL WATER TREATMENT LIFT STATION REQ.# DATE CONTRACTOR REQUISITION OUTLAY COI PLANT REHAB 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 Svi 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 Monies 16,200 16,200 16,200 8 02/01/11 Hole Monies 13,207 13,207 13,207 9 02/10/11 Benchmark EnviroAnalytical,II 1,019 1,019 1,019 10 02/17/11 Hole Monies 1,983 1,983 1,983 11 03/07/11 Hole Monies 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 Monies 19,575 19,575 19,575 21 07/22/11 Cardinal Contractors 170,192 170,192 170,192 22 07/27/11 Hole Monies 22,325 22,325 22,325 23 08/19/11 Cardinal Contractors 156,353 156,353 156,353 24 08/30/11 Hole Monies 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 Monies 43,975 43,975 43,975 33 11/23/11 KW Controls 24,337 24,337 24,337 I 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 S 9,027 9,027 9,027 Report Date:4/2/2015 12 Agenda Page 35 PORT OF THE ISLANDS Community Improvement District Construction Schedule IAMOUNT OF CAPITAL WATER TREATMENT LIFT STATION REQ.# DATE CONTRACTOR REQUISITION OUTLAY COI PLANT REHAB 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 06/29112 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 S 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 $ - I 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 Monies 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 Monies 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 I Total FY 2013 $ 376,187 $ 376,187 $ - $ 376,187 $ - I Total FY 2014 $ - $ - $ - $ - $ - 77 02/11/15 Fortiline $ 8,700 $ 8,700 78 03/04/15 Fortiline 148 147.74 79 03/04/15 Ferguson 319 319.22 80 03/26/15 Severn Trent 9,596 9596.35 I Total FY 2015 $ 1 8,764 $ - $ - $ $ 18,764 I I Grand Total $ 5,395,157 $ 5,333,694 $ 42,700 $ 5,333,694 $ 18,764 1 +v..,.wwm'!'5, .'�w,g ,¢:> .v$S alea V.etaf uV.:42tex.t..+.1041 4" .. , ,,.s.,,.M..: '.r .... a.v"..'.ZA,II'.&140.1 ,1.1,,d b .F'..A.It idSNS 3a'yyi3°e E"...Vi 4. Interest FY 2011 Interest $ 5,744 FY 2012 Interest 2,291 FY 2013 Interest 303 FY 2014 Interest 173 FY 2015 Interest 65 $ 8,577 Report Date:4/2/2015 13 PORT OF THE ISLANDS Agenda Page 36 Community Improvement District All Funds Capital Improvement Program-Status Report Updated thru 3/31/15 WATER PROGRAM PROJECT PAID FY 2015 PAID IN FY NO PROJECT NAME OR DESCRIPTION ESTIMATE l" 2015 P, INCEPTION TO FY 2016 FY 2017 FY 2018 FY 2019 PROJECT DATE I't STATUS W-19 Video surveillance and monitoring $ - $ - S - $ 10,000 $ - .$ - $ - ST project W-22 Fire hydrant repair and replacement $ - $ - $ 3,090 $ - $ - $ - $ - ST project Total Water Program $ - $ • $ 3,090 $ 10,000 $ - $ - $ - WASTEWATER PROGRAM ST combined _ WW-23 SCADA and control panel for lift stations $ 30,796 $ - $ 77,137 $ 30,796 $ 30,796 $ - $ - w/WW-26 WW-24 MOP Membranes $ 20.000 $ - $ - $ 20,000 $ - $ - $ - ST WW-25 Misc.Equipment Replacement $ - $ - $ - $ - $ .. $ - $ WW-26 Replace lift station control panel $ 96,204 $ 18,764 $ 18,764 $ - $ - $ - $ - TotalWastewaterProgram $ 147,000 $ 18,764 $ 95,901 $ 50,796 $ 30,796 $ - $ - Total Water/Sewer Fund'$ 147,000 1$ 18,7641$ 98,9901$ 60,7961$ 30,7961$ -I$ - NOTE('):The amounts shown in the'FY 2015 ESTIMATE'columns reflect the most recent approximation of what the District expects to spend on each project between October 1,2014 and September 30,2015. NOTE 1�1: The amounts shown in the'PAID IN FY 2015'column reflects project expenses incurred between October 1,2014 and September 30,2015. 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 I'l: The'PAID INCEPTION TO DATE'columns reflect any payments made between FY 2006 and present. Report Date:4/2/2015 14 PORT OF THE ISLANDS Agenda Page 37 Community Improvement District All Funds Capital Improvement Program-Status Report Completed Projects Project No.' Project Name or Description I Project Total'Completion I Date Comments I IG-1 Collier County Zoning/Fire Station Property $ 22,324 11/1/2003.Completed in FY 2010 G 2 Sign Variance Petition Union Road $ 42,683 11/1/2009;Completed in FY 2011 RI&2 IRoad resurfacing and repair I$ 473,138 Is4302007tIComp1eted in FY 2007 1-1 irrigation&Fire Control Panel Upgrade $ 54,621 9/30/2008 Completed in FY 2008 1-2 Irrigation Supply Well Project $ 34,765 %,�'0/12008F Completed in FY 2009 1-3 Wellfield Mechanical Upgrades $ 218,732 #." 2004 Completed in FY 2009 1-4 3rd well to provide irrigation water supply 5 287,793 4*P,d01Q`Completed in FY 2010 1-5 WellHeld SCADA $ 27,587 V3itittikitf Completed in FY 2010 1-6 Electrical Upgrades for Wellrield and W WTP Generator $ 247,386 h;.rs -- +'.,Completed in FY 2010 I-7 Canal PS Modifications $ 4,269 !,(401. <Completed In FY 2010 1-10 Wellhead Retrofitting $ 11,615 .f= `';u w,i'r Completed in FY 2012 1-11 Well Monitoring $ 16,746 1.'444014 Completed in FY 2013 112 Pump Retrofitting $ 10770 9/3r13411'h. Completed In FY 2013 W-2 Water Treatment Plant-replace transfer pumps $ 9,887 9/30/2008`'Completed in FY 2008 W-4 Water Treatment Plant-repairs to building(roof,doors,windows.painting) $ 14,050 ,131/30/2.013t.Completed in FY 2008 W-5 Water Treatment Plant-replace metal launders and walkways on softening unit&other repairs $ 55,877 101311200 Completed In FY 2009 W-6 Water Treatment Plant-replace gaseous chem storage/feed sys(chlorine)w/liquid chem(bleach) $ 36,088 ,:wag/200 Completed In FY 2009 W-7 Water Treatment Plant-air condition room that houses compliance monitoring equipment $ 3,901 ,0130013 Completed In FY 2008 W-13 Water Treatment Plant-design new WTP $ 488,844 534041 ,Completed In FY 2011 W-14A Water Treatment Plant-New Construction $ 4,409,326 41< 1�,'1J Completed In FY 2014 W-1413 Water Treatment Plant-Inspection of new construction $ 440,894 it Completed In FY 2013 W-15 Water Treatment Plant-New meter replacement program(with Dackflow prevention) $ 257.514 Ex'T7j;"1 ?.Completed In FY 2013 W-17 SCADA $ 223,393 ;, `Completed in FY 2009 W-23 Stormwater Rention Ponds $ 110,776 Completed in FY 2011/2012 W-23e Disinfection Conversion-free chlorine to chloramines S 11,427 i� :Completed in FY 2009 WW-5 Wastewater Treatment Plant-two new mixers pump WW-8 Wastewater Treatment Plant-add second reuse $ 18,970 949209$3 Completed in FY 2008 P P $ 111,973 Y,�341,1Y'i09 Completed In FY 2008 Wastewater Treatment Plant-replace gaseous chew storage/feed systems(chlorine and sulfur , }? WW-10 dioxide)w/liquid chem(bleach and sodium thiosultate) S 36,088 o) Completed in FY 2009 WW-13A Reuse Storage Tank S 585,299 1' xp,`-°, Completed in FY 2010 WW-1319 Automation of reuse water system and supplemental water 5 55,358 „:„.ciii.3.40it,Completed in FY 2010 WW-18 DyneLift MBR Membrane System $ 1.112,360 WW-19 Electrical service upgrades at WWTP _Completed in FY 2019 P9 $ 231,100 �s`F;t =:Completed in FY 2009 WW-20 New WWTP Generator $ 110,776 WW-23 SCADA and control panel for lift stations $ 77,137 !+°'r)*Completed In FY 20 9k9 rr r3€Completed In FY 2014 4 Report Date:4/2/2015 15 Agenda Page 38 PORT OF THE ISLANDS Community Improvement District General Fund Cash Flow Projections MAR APR MAY JUN JUL AUG SEP 2015 2015 2015 2015 2015 2015 2015 Cash Beginning Balance $ 996,522 $ 1,097,263 $ 1,077,882 S 1,046,968 $ 1,016,050 $ 982,413 $ 951,497 Cash Inflow 14,050 14,190 179 179 179 179 179 Cash Outflow (33,650) (33,571) (31,095) (31,095) (33,816) (31,095) (31,095) CD Investment 152,763 - - - - - - Add:Prepaid Items 2,036 - - - - - - Less: Due to WS Fund (29,965) - - - - Less:Current Liabilities(as of 3/31/15) (4,493) - - - - - - Total Estimated Cash Balance WITHOUT past due assessments or FY 2015 off roll billing $ 1,097,263 $ 1,077,882 $ 1,046,966 $ 1,016,050 $ 982,413 $ 951,497 $ 920,682 Total Estimated Cash Balance WITH past due assessments and FY 2015 off roll billing $ 1,406,806 $ 1,401,863 $ 1,370,947 $ 1,340,031 $ 1,306,394 $ 1,276,478 $ 1,244,563 Cash Receipts Special Assessments $ 14,011 $ 14,011 $ - $ - $ - $ - $ - Special Assessments-Discount (140) - - - - - - Interest 179 179 179 179 179 179 179 Total Cash Inflow $ 14,050 $ 14,190 $ 179 $ 179 $ 179 $ 179 $ 179 Operating Expenditures Administrative P/R-Board of Supervisors $ 1,000 $ 500 $ 500 $ 500 $ 1,000 $ 500 $ 500 FICA Taxes 45 45 45 45 45 45 45 ProfServ-Engineering 2,167 2,167 2,167 2,167 2,167 2,167 2,167 ProfServ-Legal Services 1,167 1,167 1,167 1,167 1,167 1,167 1,167 ProfServ-Mgmt Consulting Sery 2,508 2,508 2,508 2,508 2,508 2,508 2,508 Annual Audit 1,750 - - - - - - Postage and Freight 100 100 100 100 100 100 100 Rental-Meeting Room 50 25 25 25 50 25 25 Insurance-General Liability - 2,197 - - 2 197 - - Printing&Binding 108 108 108 108 108 108 108 Legal Advertising 83 83 83 83 83 83 83 Miscellaneous Services 115 115 115 115 115 115 115 Misc-Assessmnt Collection Cost 280 280 - - - - - Misc.-Web Hosting 83 83 83 83 83 83 83 Office Supplies 42 42 42 42 42 42 42 Total Administrative 5 9,498 $ 9,419 $ 6,942 $ 6,942 $ 9,664 $ 6,942 $ 6,942 Maintenance Contracts-Mgmt Services $ 8,333 $ 8,333 $ 8,333 $ 8,333 $ 8,333 $ 8,333 $ 8,333 Contracts Landscape 6,902 6,902 6,902 6,902 6,902 6,902 6,902 Electricity-Streetlighting 1,583 1,583 1,583 1,583 1,583 1,583 1,583 Utility-Irrigation 1,417 1,417 1,417 1,417 1,417 1,417 1,417 R&M-Renewal&Replacement 5,833 5,833 5,833 5,833 5,833 5,833 5,833 R&M-Signage 83 83 83 83 83 83 83 Total Maintenance $ 24,152 $ 24,152 $ 24,152 $ 24,152 $ 24,152 $ 24,152 $ 24,152 Total Cash Outflow $ 33,650 $ 33,571 $ 31,095 $ 31,095 $ 33,816 $ 31,095 $ 31,095 Report Date:9/2/2015 16 Agenda Page 39 PORT OF THE ISLANDS Community Improvement District Water and Sewer Fund Cash Flow Projections MAR APR MAY JUN JUL AUG SEP 2015 2015 2016 2015 2015 2015 2015 Cash Beginning Balance $ 262,993 $ 290.606 5 233.130 $ (388,432) $ (414,149) $ (507,706) $ (533,424) Cash Inflow 55,415 55,768 20,507 20507 20.507 20,507 20,507 Cash Outflow-Expenses (49305) (113,245) (642,068) (46,225) (114,064) (46,225) (46,225) Add:Prepaid Items 2,036 Add Due from General Fund 29,965 - - - - - - Less:Current Liabilities(as of 3/31/15) (10,596) - - - - - - Total Estimated Cash Balance WITHOUT past due assessments or FY 2015 off roll billing $ 290,608 $ 233,130 $ (388,432) S (414,149) $ (507,706) $ (533,424) $ (559,142) Total Estimated Cash Balance WITH past due assessments and FY 2015 off roll billing $1,166,036 $1,166,360 $ 633,788 $ 508,071 $ 414,614 $ 388,796 $ 363,076 Cash Receipts Special Assessments $ 35,261 $ 35,261 $ - $ - $ - $ $ _ Special Assessments-Discount (353) - - - - - Water/Sewedlmgation Revenue 20,483 20,483 20,483 20,483 20,483 20,483 20,483 Interest/Miscellaneous 24 24 24 24 24 24 24 Total Cash Inflow 5 66,415 $ 55,768 $ 20,607 S 20,507 S 20,607 S 20,507 $ 20,507 Operating Expenditures Administrative P/R-Board of Supervisors $ 1000 $ SUU 5 500 $ 500 $ 1,000 5 500 5 550 FICA Taxes 45 45 45 45 45 45 45 ProfServ-Engineering 2,167 2,167 2,167 2,187 2,167 2,167 2,167 ProfServ-Legal Services 1,167 1,167 1,167 1,167 1,187 1.167 1,167 Profserv-Mgmt Consulting Sent 2,518 2,518 2,518 2,518 2,518 2,518 2,518 Annual Audit 1,750 - - - Postage and Freight 100 100 100 10U 105 100 100 Rental-Meeting Room 50 25 25 25 50 25 25 Insurance-General Liability - 2,197 - - 2,197 - - Pnn6n9 8 Binding 108 108 108 108 108 108 108 Legal Advertising 83 83 83 83 83 83 63 Miscellaneous Services 217 217 217 217 217 217 217 Mist-ASSeSSmnt Collection Cost 755 705 - - - Office Supplies 42 42 42 42 42 42 42 Total Administrative S 9,951 $ 9,873 $ 6,971 $ 6,971 $ 9,692 $ 6,971 $ 6,971 Maintenance Contracts-Mgmt Services $ 25,794 S 25,794 S 25,794 $ 25,794 $ 25,794 $ 25,794 5 25,794 Contracts-Other Services - - 1,750 - - - - Communication-Teleph-Field 376 376 376 376 376 376 376 Utility-General 7,250 7.250 7,250 7,250 7,250 7,250 7250 R&M-Imgatron 2,917 2,917 2,917 2,917 2,917 2,917 2,917 R&M-Water Plant 1.667 1,867 1,667 1,667 1,667 1,667 1,667 R&M-Waste Water Plant 1,250 1,250 1,250 1,250 1,250 1,250 1,250 Misc.-Licenses 8 Permits - - - - 1,000 - - CIP• 64,118 64,118 Total Maintenance $ 39254 5 103,372 $ 41,004 $ 39,254 $ 104,372 $ 39,254 5 39,254 Debt Service Principal and Interest $ - $ - $ 594,094 $ - $ - $ - 5 - Total Debt Service $ - 5 - $ 594,094 $ - $ - $ . 5 - Total Cash Outflow $ 49,205 $ 113,245 $ 842,086 $ 46,225 $ 114,064 $ 46,225 $ 46,225 'NOTES: Estimated CIP costs for anticipated projects are shown quarterly. The attorney has confirmed the use of construction funds are eligible to cover lift station rehabilitation projects. Both construction funds available and eligible anticipated project costs are reflected above. Report Date:4/2/2015 17 Agenda Page 40 PORT OF THE ISLANDS Community Improvement District All Funds Cash Flow Projections-5 Year GENERAL FUND ADOPTED PROPOSED PROPOSED PROPOSED PROPOSED FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 Operating Revenues Assessments(Net) $413,373 $413,375 $413,375 $413,375 $413,375 Interest/Miscellaneous $2,153 $1,673 $2,153 $2,153 $2,153 Total Operating Revenues $415,526 $415,048 $415,528 $415,528 $415,528 Operating Expenditures Administrative $121,696 $117,449 $120,972 $124,601 $128,339 Maintenance $293,830 $297,600 $306,528 $315,723 $325,195 Total Operating Expenditures $415,526 $415,048 $427,499 $440,324 $453,534 Capital Expenditures CIP Projects $0 $0 so $0 $0 Total Capital Expenditures $0 $0 $0 $0 $0 Estimated Ending Cash Balance WITHOUT past due assessments or HY 2015 o0 roll billing $ 920,582 $920,582 $908,610 $863,814 $845,808 Estimated Ending Cash Balance WITH past due assessments and FY 2015 cfi roll billing $ 1,244,563 $1,244,563 $1,232,591 $1,207,795 $1,169,789 WATER AND SEWER ENTERPRISE FUND ADOPTED PROPOSED PROPOSED PROPOSED PROPOSED FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 Operating Revenues Assessments(Net) $1,093,920 $1,093,920 $1,093,920 $1,093,920 $1,093,920 Water/Sewer/Irrigation Revenue $245,800 $217,500 $217,500 $217,500 $217.500 Interest/Miscellaneous $285 $199 $360 $386 $444 Total Operating Revenues $1,340,005 $1,311,619 $1,311,780 $1,311,806 $1,311,865 Operating Expenditures Administrative $145,237 $133,973 $133,973 $133,973 $133.973 Maintenance $480,170 $464,928 $484,928 $464,928 $464,928 Total Operating Expenditures $625,407 $598,901 $598,901 $598,901 $598,901 Capital Expenditures CIP Projects $50,796 $60,796 $30.796 $0 $0 Total Capital Expenditures $60,796 $60,796 $30,796 $0 $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 Ending Cash Balance WITHOUT past due assessments or FY 2015 off roll billing $ (559,142) ($562,579) ($535,856) ($478,311) ($420,707) Estimated Ending Cash Balance WITH past due assessments and FY 2015 ott roll billing $ 363,078 5359,641 $386,364 $443,909 $501,513 Report Date:4/2/2015 18 I I I I In rH CO O O In v.N H N 0001 O Cl) N O N m rH Cl)M In r-i Cl) l0 ri I- O O N 00 In CO O N O CO CO 0 r1 O H CO r- ,1 CO kb CO CO • • • • • • • • • • • • • . 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U O KC cG O a a W 0 U KC m aHOP4 .z 000EzxF4 H (Q xi .OV1 IL t. .Uxx F W Z54 Ul U UI a;r.CErimsµ' W Z E7.'FCCD0w' 4 £UN GZ]£' W ,r J',x J'sr W e-1 r-I rA.1 r1 O 1 1 1 1 1 10 O 10 10 W N N N N H 1 1 1 1 1 • 01 1f)61 610) W O O O O O N W L. L.L.G.L. .-. rl U 0 0 0 0 0 0 C) U V' d om no W 1 1 1 1 1 1 W M N(0 N NN 1 1 1 1 1 1 Z O ON V'Ill 61 Z a Z .--1 N dl d'Cr C d N O O O o 0 H OV610V01616 W Z 1 1 1 1 1 1 O p Jh.r'4 .r J .r 0 000000 W U 1 1 1 1 1 1 E U N N N N N N 4 N N N N N N R: W 0 � r N W N a Qo c CAD U) a+ o o 0 q E. O O al O• a� tk 0 U) r A 0 z 0 (f] U A O H a r r F4 rn rn CO r C+ r r U 0 a CC H £W q z vi •• r4 0 v.) c..) cn wvz E. 0 a<m O H PO O U H N A U u; O W E x x Ca EEE Z N H H H Z 0 N 3 3 3 • z w 0 w 000 E. < < 0`n0 q U UUU Agenda Page 49 Swan Trent lanvt onmentsl Ssrvlon Port of the lelande Repair and Maintenance Budget Applied against budget account,coplea of Invoices available upon request Cap 115,000 Contract Oct 2014•Sept.7016 Inn.Data Service Vend DacrlpUdn ! Invoice/ I Invoice 6 Month or Locate and makrod Irrigations and water mains fro contractors at US 41 end Slags Meru IIII 10110/14 Irrigation 3T8 South WO 46599 187.50 RO Wel0101d•Service call on Wet A2 GPM not working on SCADA.Trouble shoot and found bad surge protection nodule,replaced module,tested flow and Waltzer on metre end SCADA.Will 83 totalizer not working on meter,Tested melee,roast program and tested 10/13/14 STS totilcer to observe counter InueetaIng. WO 94875 792.56 S Irvine Cell RO WTP-Water RO Distribution PH analyzer malfunctioning,net on SCADA. 10/13/14 Water ., ST8 Trouble shod.repaired PH analyzer,requires repleement dleptay board, WO 94974 400,00 09/18114 Water ST9 WTP Repelled leak on NI NO service pump end check valve. WO 48539 t67.50 09/18/14 Water STS W WTP(MBR)Install Mo new 4"Butterfly Valves it MBR at W WTP. WO 46040 300.00 Call out to repair asking backlow at plant Exeavatad by hand replace 6ittnga.Restored 05/19114 BTS area, W045511 376.00 2,24266 Oct.2014 10/28/14 Water STS Repair water service al Bldg,380,2804 Stalls Monte North WO 45810 212.10 10128114 Water STS Raper water aervicealWWII, WO 45800 138.00 11/3/14 Water STS Install new 314'badtltow at 330 SLlls Mans South.Test and recertified WO 45006 175.90 Service call et WTP.Plant surge device rnallunctioned and exploded.Troubleshoot and found Lizard shorted alit main board and blew door oft unit Further Inspection found lnstallelkl questlonebte Recommend correcting Installation with replacement. Further reseran round exlsling net undo/warranty Met with TV8S Engineer and he Inspected and 11/17114 Sewer 978 recommended replacement W0114651 400.00 Service cal at WTP. Trouble shoot analyzed. Replaced rnalun tioring analyzer with old 11/24/2014 Water STS one from Ngh service pump room,following bench repair and leafing. WO 94870 700.00 Service net at WTP.Chlorine analyzer eemph Ina plugged and unable to provide efficient 11/24/14 Water STS Clow for correct samples. Dlseseemble,unplug and reel=wfh new pens. WO 94082 800,00 2,225.10 Nov.2014 4,467.56 Nov,VTO Tech/replaced one pull Malian and one strobe In the sample room that was damaged on 13/30/14 Tyco I the Simplex 4008 System, Tech also repeked a ground fault on be Annunciator. fnv,80596878 815.08 11/07/14 Water ST8 Assist operators with replacing the sewer Influent edam eeareen gears and brain WA e4e86 400.00 11112/14 HD St EDCO PC5422C-038 Surge Suppression Nonstock Product kw,9E38380582 337.43 Emergemyr cell out la spray paint ores to taped water main break, Excavie with trecktwe and repair main break art Newport Ddvebotween Morningstar and Eveningater. Restored /1103/14 Water 3T3 area lofts eriglanl form with f oratem sod.. WO 45815 2,64250 Service cell at Master UR Station. level control missing on BCADA,alarming ULC tenure, Found ULC OK but PLC module failure.Replaced module end bent defective module In for 11/75/14 Water STS repair end evaluation. WO 94879 804.817 POI Rebore Fab 2016•Flnet MAR 11 2015 3620 Maintenance 67230 27 Agenda Page 50 Severn Trent tmironmonW her lees Part at(ha Islands Repair and Maintenance Sedget Applied against budget account,copies of invoices available upon request Cep$16,000 Contract Oct 2014•Sept.2015 f inv.Date Service V d acr I Dlptlon Involco/ Invoke$ Month 1 Service call at Master Lilt Station Contra?, PLC module(alkali.Replaced module and sent 12/04/14 Sewer STS 15u88 aria ie tar iaarTanty repair 200.00 At 104.200 Newport Orlva excavated end repaired 21/2'Irrigation Ilea Inside 4"casing 12/05/14 Irrigation STS pipe. Install 2'valve and restore area WO 45871 2,390.50 At 154 Newport Or,Building at 26080 Orchid Cove,and Sultana et 26084 Peacock Lana 12/18/14 Walar STS Inspected all baddiows and repaired Fe ones that vmry lusting. WO 45096 314.86 7,83194 Dec-2014 12,30963 Deo.YTA At 109 Morningstar City.326 Stella Maria Sault and 330 Stela Wile Saab rebuilt,tasted 01/16/16 Water STS and receN6/dbackttbwe W045710 09160 At 380 Stella Nall N Unit 2808 rebuilt backtow on=lament Ude.Al 184 Newport Orke cleaned 0eckflow 3670081 amd 81 check valve and clucked operations.Al 333 Sunrise 01/16/16 Water 8TS Cay Unit 3 deened#5 check valve end pJad on line. WO 45734 360.00 769.50 Jan-15 13,0110,08 Ian.Y70 02!10/16 Water ' STS Cleaned and Tasted 2bad?Iowsat255end218NewporfDrNa W045005 160,00 01/13/15 Sewer STS Pulled and Unclossged 82 Pump at LS rib-Checked amps,.OK WO 46703 22500 02/I3/15 Water STS Repair Broken line from Badutow to meter at 187 Gay On. WO 45794 7500 02/13116 Stover STS AT POI Sawer Turbidity meter malundl0nad•Troubleshoot unit end ordered parts WO 94402 1,400.13 1,065.53 Feb-15 14,91522 Feb.YTO MAR 11 2015 POI Rebate Feb 2015-final 1520 Maintenance 67230 28 Agenda Page 51 Sayer inn*PJ4nnnumt4 11144.. i Pa*of 114 1414/411 d1.m1141 46400 Apollo{40444 b4`.i eeee.a,.o*.of brwls...v J O1.upon request Cu$10,01111.10 11544111 C-056104 04 2014.s.p.m16 ti 4 y_`+ RNYE : f . .Vi4.15: ti d1,9 r . r aa, 1P{Lfi'k '. 001216 01/1,4010 YPOOtoanaeo 7R1tl . AO 0020114 ammo! HYfwanC•ml 00l0110J40 321743 64.00 00/2014 DUMONT HWOOJlMITESOWfMU1 316000 14700 1010644 WMONT HYP000.07111E 600311016 312400 16420 10120714 0U401f1 HYP0G*ILORt1E 00131101/ 373447 1100 1111614 DUMONT 41POCH0.007n 60027416,60013/1 H21J0R02000 723045 72410 641.75 Ou red 1 007/14 43!1047 HfrocHu RITZ OCWUO141.11001103 H1000003E 713003 014.70 11704114 DUMONT 1YPC*60RITE SCU ONO 320677 1006 1117/14 032047 HYPOglLo6rr15CL2110645 326106 *4660 11/17/14 0240*41 HVPOCHLORRE 601.4110110 220717 6100 670.66 New T.W 1,62471 170 Tad 1241114 03/1017 H2ROC*S0017E 6OL11T4f1460QLMHY0100100 720307 31000 174414 011/1017 21YP0014MM 001.4110102 320303 20240 617.10 04e 1440 7.10120 YID Tell 17,401114 DUMONT WYPOcHLON1711 6oL1FT1ON0.SODIUM HY060*OH,03/1017464600,PAw1C A 102 PLUS 710101 4.24626 UBMos* 1711014 71/6*0N1' *1YPOCMd1*TE 501.17110141 776152 13100 0111106 011M061 HYPOO&OLArt66CLOR1013,00060*4*120000100 320541 60420 0700115 11161067 HYPOC*OQAt166OLUTWM0 331237 2000 01120110 OUMOUT HYPOC41.0fUTe 601.11110 fill 331631 74%.00 0111010 03/100(7 11Y600e040114006.U11 OM 330047 *76.10 4700.00 Ue4 Tool 4,10210 Y70 TAN 6007111 DUMONT HYPOCIS17LA10E 601.010■4 6001UM 0Y020YIOE 331571 21;17.60 024616 MIAMI 14040G4LA4.61TE 02371014 6002.600'00=176 172021 166,41 0412014 0304047 14000CJSAUOA16OWT1041,DOMAN*470110300 332020 30074 02120110 03/10147 IIYPOCI6.OPI1i 601V110150.601101111170210400,01210N1,404000,HMG 102 PWO 313736 1,205 20 0614001/ 4,400.41 7.0 ram 0,763.60 770 T41e1 MAR 111015 POI 6.6.1.1..2010-1703 1620 0l1111611 6060 29 Unit Information Unit ID:300149 Year 2014 AFR Details • • Unit Name:Port of the Islands Community • Original AFR Improvement District AFR Status In Process Unit Status:Active Unit Dependency:Independent AFR Received Date: • Location Information Contact Information Audit Received Date: •. Submission Type: Name:Mr.Stephen Bloom Name:Ms.Helena Randel Title:Accounting Manager Title,District Accountant Debt information Phone:(954)753-5841 Phone:(954)753-5841 • . Fax(954)345-1292 Email:I lelene.Randel@STservices.com Long-Term Debt 52958,145 Address: Address: 210 N.University Drive.Suite 702 210 N.University Drive,Suite 702 Audit Information Coral Springs,FL 33071 Coral Springs,FL 33071 • • Was an audit performed? Yes • • Audit Performed Date: Certification • Auditor Name: Chief Financial Officer ChainnanfElected Official • Name:Joel Anthony Davis Nome;Stophon Bloom • Address: Title:Chairman Title,Assistant Treasurer • �✓° L�-(� Yes No Have You Experienced a Financial Emergency in tins year? ❑ r _] • " If Yes,Have You Complied With Section 218.503(2),Florida Statutes? El ❑- Auditor General Rule:Section 10.554(1)(h)6.b):If applicable,does the Annual Financial Report agree with the Audited Financial Statement? x (Do total revenues and expenditures per fund group on the AFR — balance to the audited Statement of Revenues and Expenditures?) • Tuesday,March 31,2015 Page 1 of 5 Agenda Page 53 Port of the Islands Community Improvement District ANNUAL FINANCIAL REPORT September 30, 2014 Agenda Page 54 Port of the Islands Community Improvement District ANNUAL FINANCIAL REPORT Fiscal Year Ended September 30, 2014 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 19-31 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 32-33 MANAGEMENT LETTER 34-35 INDEPENDENT ACCOUNTANT'S REPORT/COMPLIANCE WITH SECTION 218.415, FLORIDA STATUTES 36 cp, Berger, Toombs, Elam, Agenda Page 55 —c} 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, 2014, and the related notes to financial statements 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. - 1 - Fort Pierce/Stuart Member A1CPA Mummer AlCPA Caviriun Fur CPA Firms Mvmtror F1CPA Private Companies Practice Section Agenda Page 56 <<F Gaines & Frank Elam, Co.alind Public Accountant, PI. 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, and each major fund of Port of the Islands Community Improvement District as of September 30, 2014, 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. Other Matters Required Supplementary Information Governmental accounting principles generally accepted in the United States of America require that the Management's Discussion and Analysis and budgetary comparison be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures in accordance with governmental auditing standards generally accepted in the United States of America, which consisted principally of inquires of management regarding the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued a report dated April 7, 2015 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. verger, Toombs, Elam, Gaines cs Frank, Berger, Toombs, Elam, Gaines& Frank Certified Public Accountants PL Fort Pierce, Florida April 7, 2015 -2- Agenda Page 57 Port of the Islands Community Improvement District MANAGEMENT'S DISCUSSION AND ANALYSIS For the Year Ended September 30, 2014 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) net investment in capital assets, 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- Agenda Page 58 Port of the Islands Community Improvement District MANAGEMENT'S DISCUSSION AND ANALYSIS For the Year Ended September 30, 2014 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 Hicahlisahts The following are the highlights of financial activity for the year ended September 30, 2014. • The District's total assets exceeded total liabilities by $9,264,146. Unrestricted net position for Governmental Activities was $848,193 and for Business-type activities was $(312,823). Net investment in capital assets for Governmental Activities were $797,132 and for Business-type activities were$7,931,644. -4- Agenda Page 59 Port of the Islands Community Improvement District MANAGEMENT'S DISCUSSION AND ANALYSIS For the Year Ended September 30, 2014 OVERVIEW OF THE FINANCIAL STATEMENTS(CONTINUED) Financial Highlights (Continued) ♦ Governmental activities revenues totaled $321,567 while governmental activities expenses and transfers totaled $773,808. Business-type revenues and transfers totaled $1,421,277 while business-type expenses totaled $1,296,992. 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 2014 2013 2014 2013 2014 2013 Current assets $ 867,922 $ 1,275,358 $ (50,412) $ (71,395) $ 817,510 $ 1,203,963 Capital assets,net 797,132 836,860 11,300,541 11,725,588 12,097,673 12,562,448 Total Assets 1,665,054 2,112,218 11,250,129 11,654,193 12,915,183 13,766,411 Current liabilities 19,729 14,652 673,163 668,685 692,892 683,337 Non-current liabilities - - 2,958,145 3,490,972 2,958,145 3,490,972 Total Liabilities 19,729 14,652 3,631,308 4,159,657 3,651,037 4,174,309 Net Position Net investment in capital assets 797,132 836,860 7,931,644 7,915,750 8,728,776 8,752,610 Unrestricted 848,193 1,260,706 (312,823) (421,214) 535,370 839,492 Total Net Position $ 1,645,325 $ 2,097,566 $ 7,618,821 $ 7,494,536 $ 9,264,146 $ 9,592,102 The decrease in current assets for governmental activities is primarily due to the decrease in cash and investments as a result of the negative changes in net position. The decrease in capital assets for governmental activities and business-type activities is primarily due to depreciation in the current year. The decrease in non-current liabilities for business-type activities is primarily due to principal payments on bonds in the current year. -5- Agenda Page 60 Port of the Islands Community Improvement District MANAGEMENT'S DISCUSSION AND ANALYSIS For the Year Ended September 30,2014 OVERVIEW OF THE FINANCIAL STATEMENTS(CONTINUED) Financial Analysis of the District(Continued) 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 2014 2013 2014 2013 2014 2013 Program Revenues Charges for services $ 319,002 $ 393,680 $ 1,043,279 $ 1,224,109 $ 1,362,281 $ 1,617,789 General Revenues Investment earnings(loss) 1,404 4,936 (1,261) 3,279 143 8,215 Miscellaneous 1,161 1,575 11,259 6,895 12,420 8,470 Total Revenues 321,567 400,191 1,053,277 1,234,283 1,374,844 1,634,474 Expenses General government 108,735 119,065 - - 108,735 119,065 Physical environment 297,073 269,411 - - 297,073 269,411 Water and sewer - - 1,296,992 1,256,672 * 1,296,992 1,256,672 Total Expenses 405,808 388,476 1,296,992 1,256,672 1,702,800 1,645,148 Transfers (368,000) - 368,000 - - - Change in Net Position (452,241) 11,715 124,285 (22,389) (327,956) (10,674) Net Position- Beginning of Year 2,097,566 2,085,851 7,494,536 7,516,925 9,592,102 9,602,776 Net Position- End of Year $ 1,645,325 $ 2,097,566 $ 7,618,821 $ 7,494,536 $ 9,264,146 $ 9,592,102 The decrease in charges for services is the result of nonpayment of assessments from landowners. The increase in physical environment is primarily due to an increase in repairs and maintenance. The increase in water and sewer expenses is primarily related to the loss on disposal of capital assets and an increase in repairs and maintenance. -6- Agenda Page 61 Port of the Islands Community Improvement District MANAGEMENT'S DISCUSSION AND ANALYSIS For the Year Ended September 30,2014 OVERVIEW OF THE FINANCIAL STATEMENTS(CONTINUED) Capital Assets Activity The following schedule provides a summary of the District's capital assets at September 30, 2014. 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 15,321,761 16,635,372 Equipment 15,613 327,167 342,780 Construction in progress - 3,090 3,090 Less: accumulated depreciation (870,410) (4,644,538) (5,514,948) Total Capital Assets(Net) $ 797,132 $ 11,300,541 $ 12,097,673 During the year, depreciation was $39,728 for governmental activities. Current year additions and deletions were $130,073 and $116,596, respectively, and depreciation was $494,510 for business-type activities. General Fund Budgetary Highlights Actual governmental expenditures exceeded the budget due to an unanticipated transfer of funds to the Enterprise Fund. The budget was amended for the transfer of funds to the water and sewer enterprise funds. 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 30,2014 was$3,490,972. -7- Agenda Page 62 Port of the Islands Community Improvement District MANAGEMENT'S DISCUSSION AND ANALYSIS For the Year Ended September 30,2014 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 2015. 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- Agenda Page 63 Port of the Islands Community Improvement District STATEMENT OF NET POSITION September 30,2014 Governmental Business-Type Activities Activities Total ASSETS Current Assets Cash and equivalents $ 494,864 $ 122,075 $ 616,939 Cash restricted for customer deposits - 32,900 32,900 Investments 152,763 - 152,763 Accounts receivable 834 - 834 Interest receivable 840 - 840 Due from other governments 2,364 6,162 8,526 Prepaid expenses 2,036 2,672 4,708 Internal balances 214,221 (214,221) - Total Current Assets 867,922 (50,412) 817,510 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 15,321,761 16,635,372 Improvements other than buildings 110,121 - 110,121 Equipment 15,613 327,167 342,780 Less: accumulated depreciation (870,410) (4,644,538) (5,514,948) Total Non-current Assets 797,132 11,300,541 12,097,673 Total Assets 1,665,054 11,250,129 12,915,183 LIABILITIES Current Liabilities Accounts payable and accrued expenses 19,729 56,381 76,110 Customer deposits payable from restricted assets - 32,900 32,900 Accrued interest - 51,055 51,055 Bonds payable - 532,827 532,827 Total Current Liabilities 19,729 673,163 692,892 Non-current Liabilities Bonds payable - 2,958,145 2,958,145 Total Liabilities 19,729 3,631,308 3,651,037 NET POSITION Net investment in capital assets 797,132 7,931,644 8,728,776 Unrestricted 848,193 (312,823) 535,370 Total Net Position $ 1.645.325 $ 7.618.821 $ 9.264.146 See accompanying notes to financial statements. -9- 1 01 0 co d N In CO N •- CA 0) V- N— m _ v 0 .j .MN..CO CO � VO• e- 1- N ON) 00 rn 0 �.�. v v C+) If) N Q H v 0). W MI C R C Efl. EA (n o C• O d c�7 M O O CO u) CO 4- 0 a r- '- CO U) 0 0) CO C') N i+ 1� is N N O O) N Ill CO d (D 0 d M C") '- r' CO N- ' '4' CO re Z a > v N v ((i �) et CO it) 10 • C C v N-N. Q CL C m ER 0 wt ••U C 6-.8 cSo mNN d NCO 0 co H CO LaCO CO 0- 0 d_ N CO C') 4 v Z E c6 co CO - '- CO rnIT NcOC CO CO CO u m N 4- > W q C Q O H ` t0 EA Eta a> � EQ 49 ` CO CO N CA O -'Q Q. 0 w GI v Lo 0 N CO N 07 N CC � m > m O N ? j (n (r f O W C Q o - r t rn cc , o c ja a) yWW V Ef3 � .0 � c Z V G lt) (`7CO N O > N. a) O O y _ o M I 0 0) 0 a) C — C C O CO ) CO w o IYC p E ( C3 W _. .,..-.7 d 0) O N .0 0 O0)) O 0 N N � wH U O LL iZ �N � N > `^ d d h w .i.i �v _ = C C 0 N C t C C - ZZ 0 E a. m a `° F. ++ h V E Ca Q C c co 0Cac) > (n6 •5EEa) = 0 0 EQ aEi •� > Co ( w c > 5 � Q3 (° °c oo 0) o a °� c C• ` c >'C CO 6- o me cu E 0 h3 0 u• `a 'm a ca a) Agenda Page 65 Port of the Islands Community Improvement District BALANCE SHEET GENERAL FUND September 30,2014 ASSETS Cash and equivalents $ 494,864 Investments 152,763 Accounts receivable 834 Interest receivable 840 Due from other funds 214,221 Due from other governments 2,364 Prepaid expenses 2,036 Total Assets $ 867,922 LIABILITIES AND FUND BALANCES Liabilities: Accounts payable and accrued expenses $ 19,729 Fund Balances: Nonspendable: Prepaid expenses 2,036 Assigned-first quarter operations 105,018 Unassigned 741,139 Total Fund Balances 848,193 Total Liabilities and Fund Balances $ 867,922 See accompanying notes to financial statements. - 11 - Agenda Page 66 Port of the Islands Community Improvement District RECONCILIATION OF TOTAL GENERAL FUND BALANCES TO NET POSITION OF GOVERNMENTAL ACTIVITIES September 30, 2014 Total Governmental Fund Balances $ 848,193 Amounts reported for governmental activities in the Statement of Net Position are different because: Capital assets, $1,667,542,net of accumulated depreciation, $(870,410), used in governmental activities are not financial resources and; therefore, are not reported in the funds. 797,132 Net Position of Governmental Activities $ 1,645,325 See accompanying notes to financial statements. -12- Agenda Page 67 Port of the Islands Community Improvement Distric• STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES-GENERAL FUN[ For the Year Ended September 30,2014 Revenues Special assessments $ 319,002 Investment income 1,404 Miscellaneous revenues 1,161 Total Revenues 321,567 Expenditures Current General government 108,735 Physical environment 257,345 Total Expenditures 366,080 Revenues in excess of expenditures (44,513) Other financing sources(uses) Operating transfers out (368,000) Net change in fund balances (412,513) Fund Balances-October 1,2013 1,260,706 Fund Balances-September 30, 2014 $ 848,193 See accompanying notes to financial statements. - 13- Agenda Page 68 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 30,2014 Net Change in Fund Balances-Total Governmental Funds $ (412,513) 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. This is the amount of depreciation for the current year. (39,728) Change in Net Position of Governmental Activities $ (452,241) See accompanying notes to financial statements. - 14- Agenda Page 69 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 30,2014 Variance with Final Budget Original Final Positive Budget Budget Actual (Negative) Revenues Special assessments $ 417,984 $ 417,984 $ 319,002 $ (98,982) Investment income 2,090 2,090 1,404 (686) Miscellaneous revenues - - 1,161 1,161 Total Revenues 420,074 420,074 321,567 (98,507) Expenditures Current General government 119,794 119,794 108,735 11,059 Physical environment 250,280 250,280 257,345 (7,065) Capital outlay 50,000 50,000 - 50,000 Total Expenditures 420,074 420,074 366,080 53,994 Revenues in excess of expenditures - - (44,513) (44,513) Other financing sources(uses) Operating transfers out - (368,000) (368,000) - Net change in fund balances - (368,000) (412,513) (44,513) Fund Balances-October 1,2012 1,285,808 1,260,705 1,260,706 1 Fund Balances-September 30,2014 $ 1,285,808 $ 892,705 $ 848,193 $ (44,512) See accompanying notes to financial statements. - 15- Agenda Page 70 Port of the Islands Community Improvement District STATEMENT OF NET POSITION -WATER&SEWER FUND September 30, 2014 ASSETS Current Assets Cash and equivalents $ 122,075 Cash restricted for customer deposits 32,900 Due from other governments 6,162 Prepaid expenses 2,672 Total Current Assets 163,809 Non-Current Assets Land and improvements 293,061 Improvements other than buildings 15,321,761 Equipment 327,167 Construction in progress 3,090 Less:Accumulated depreciation (4,644,538) Total Non-Current Assets 11,300,541 Total Assets 11,464,350 LIABILITIES Current Liabilities Accounts payable and accrued expenses 56,381 Due to other funds 214,221 Customer deposits payable from restricted assets 32,900 Accrued interest 51,055 Bonds payable 532,827 Total Current Liabilities 887,384 Non-current Liabilities Bonds payable 2,958,145 Total Liabilities 3,845,529 NET POSITION Invested in capital assets, net of related debt 7,931,644 Unrestricted (312,823) Total Net Position $ 7,618,821 See accompanying notes to financial statements. - 16- Agenda Page 71 Port of the Islands Community Improvement District STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET POSITION - WATER&SEWER FUND September 30,2014 Operating Revenues: Charges for services Water $ 45,207 Sewer 68,913 Irrigation 97,566 Special assessments 831,593 Miscellaneous revenues 11,259 Total Operating Revenues 1,054,538 Operating Expenses: General and administrative 124,456 Plant operations 527,265 Depreciation 494,510 Total Operating Expenses 1,146,231 Operating Income(Loss) (91,693) Non-Operating Revenues(Expenses): Loss on investments (1,261) Interest expense (133,073) Loss on disposal of capital assets (17,688) Total Non-Operating Revenues/(Expenses) (152,022) Transfers 368,000 Change in Net Position 124,285 Net Position-October 1,2013 7,494,536 Net Position-September 30,2014 $ 7,618,821 See accompanying notes to financial statements. - 17- Agenda Page 72 Port of the Islands Community Improvement District STATEMENT OF CASH FLOWS-WATER&SEWER FUND September 30,2014 CASH FLOWS FROM OPERATING ACTIVITIES Receipts from customers $ 231,451 Receipts from special assessments 831,593 Payments to suppliers for goods and services (775,728) Net Cash Provided by Operating Activities 287,316 CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Transfers in 368,000 CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Purchase of capital assets (87,149) Principal payments on long-term debt (514,758) Interest paid on long-term debt (140,602) Net Cash Used by Financing Activities (742,509) CASH FLOWS FROM INVESTING ACTIVITIES Sale of investments 12,663 Net Decrease in Cash and Cash Equivalents (74,530) Cash and equivalents-October 1, 2013 229,505 Cash and equivalents-September 30,2014 $ 154,975 RECONCILIATION OF OPERATING INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES Operating income $ (91,693) Adjustments to reconcile operating income to net cash provided by operating activities: Depreciation expense 494,510 Decrease in accounts receivable 7,012 Decrease in due from other governments 1,694 Increase in prepaid expenses (151) Decrease in due to other funds (117,994) Decrease in accounts payable and accrued expenses (5,862) Decrease in customer deposits (200) Net Cash Provided by Operating Activities $ 287,316 See accompanying notes to financial statements. - 18- Agenda Page 73 Port of the Islands Community Improvement District NOTES TO FINANCIAL STATEMENTS September 30,2014 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- Agenda Page 74 Port of the Islands Community Improvement District NOTES TO FINANCIAL STATEMENTS September 30,2014 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- Agenda Page 75 Port of the Islands Community Improvement District NOTES TO FINANCIAL STATEMENTS September 30,2014 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 - Agenda Page 76 Port of the Islands Community Improvement District NOTES TO FINANCIAL STATEMENTS September 30,2014 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- Agenda Page 77 Port of the Islands Community Improvement District NOTES TO FINANCIAL STATEMENTS September 30, 2014 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 I nterlocal Cooperative Act of 1969; 3. Interest-bearing time deposits or savings accounts in authorized qualified public depositories; -23- Agenda Page 78 Port of the Islands Community improvement District NOTES TO FINANCIAL STATEMENTS September 30,2014 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- Agenda Page 79 Port of the Islands Community Improvement District NOTES TO FINANCIAL STATEMENTS September 30, 2014 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, $848,193, differs from "net position" of governmental activities, $1,645,325, 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 as follows. -25- Agenda Page 80 Port of the Islands Community Improvement District NOTES TO FINANCIAL STATEMENTS September 30, 2014 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 (870,410) Total $. 797,132 2. Explanation of Differences Between the Governmental Fund Operating Statements and the Statement of Activities The "net changes in fund balances" for government funds, $(412,513), differs from the "change in net position" for governmental activities, $(452,241), 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. As a result, fund balances decrease by the amount of financial resources expended, whereas, net position decrease by the amount of depreciation charged for the year. Depreciation expense $ (39,728) -26- Agenda Page 81 Port of the Islands Community Improvement District NOTES TO FINANCIAL STATEMENTS September 30,2014 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, 2014, the District's bank balance was $650,062 and the carrying value was $649,839. 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 30,2014,the District had the following investments and maturities: Investment Maturities Fair Value Certificate of Deposit 03/13/15 $ 152,763 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. 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. -27- Agenda Page 82 Port of the Islands Community Improvement District NOTES TO FINANCIAL STATEMENTS September 30, 2014 NOTE C-CASH AND INVESTMENTS(CONTINUED) 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 100%of the District's investments. The types of deposits and investments and their level of risk exposure as of September 30, 2014 were typical. NOTE D—SPECIAL ASSESSMENT REVENUES Special assessment revenues recognized for the 2013-2014 fiscal year were levied in October 2013. 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 $866,483 in special assessments receivable at September 30, 2014 which were offset by an allowance for doubtful accounts in the same amount. NOTE E—RECEIVABLE AND PAYABLE BALANCES Accounts Receivable Accounts receivable in the Enterprise Fund at September 30, 2014 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$19,729. Accounts payable and accrued expenses in the Enterprise Fund consisted of vendor payables in the amount of$56,381. -28- Agenda Page 83 Port of the Islands Community Improvement District NOTES TO FINANCIAL STATEMENTS September 30,2014 NOTE F—CAPITAL ASSETS Capital asset activity for governmental activities for the year ended September 30, 2014 was as follows: Balance Balance October 1, September 30, 2013 Additions Deletions 2014 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 (715,380) (38,838) - (754,218) Buildings and improvements (99,689) (890) - (100,579) Equipment (15,613) - - (15,613) Total Accumulated Deprecitation (830482) (39,728) - (870,410) Total Capital Assets Being Depreciated,Net 608,663 (39,728) - 568,935 Governmental Activities Capital Assets $ 836,860 $ (39,728) $ - $ 797,132 Depreciation of$39,728 was charged to physical environment. -29- Agenda Page 84 Port of the islands Community Improvement District NOTES TO FINANCIAL STATEMENTS September 30,2014 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, 2014. Balance Balance October 1, September 30, 2013 Additions Deletions 2014 Business-type Activities: Capital assets,not being depreciated: Land and improvements $ 293,061 $ - $ - $ 293,061 Construction in progress 3,090 - - 3,090 Total Capital Assets, Not Depreciated 296,151 - - 296,151 Capital assets,being depreciated: Improvements other than buildings 15,409,143 25,200 (112,582) 15,321,761 Equipment 226,308 104,873 (4,014) 327,167 Total Capital Assets,Being Depreciated 15,635,451 130,073 (116,596) 15,648,928 Less accumulated depreciation for: Improvements other than buildings (4,113,195) (482,315) 51,972 (4,543,538) Equipment (92,819) (12,195) 4,014 (101,000) Total Accumulated Depreciation (4,206,014) (494,510) 55,986 (4,644,538) Total Capital Assets Depreciated,Net 11,429,437 (364,437) (60,610) 11,004,390 Business-Type Activities Capital Assets $ 11,725,588 $ (364,437) $ (60,610) $ 11,300,541 Depreciation of$494,510 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, 2014: Business-type Activities Long-term debt at October 1, 2013 $ 4,005,730 Principal payments (514,758) Long-term debt at September 30, 2014 $ 3,490,972 -30- Agenda Page 85 Port of the Islands Community Improvement District NOTES TO FINANCIAL STATEMENTS September 30,2014 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%. $ 3,490,972 The annual requirements to amortize the principal and interest of bonded debt outstanding as of September 30,2014 are as follows: Year Ending September 30, Principal Interest Total 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 611,667 43,693 655,360 2020 633,137 22,223 655,360 Totals $ 3,490,972 $ 441,186 $ 3,932,158 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 2014 special assessments. In total, the District has not received $866,843 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. 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. Subsequent to year-end, the District began direct billing of two landowners, including the landowner noted above, in order to reduce the wait time before putting liens on the property. -31 - cp-i Berger, Toombs, Elam, Agenda Page 86 << 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 COMPUANCE 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, 2014, and the related notes to the financial statements, and have issued our report thereon dated April 7, 2015. 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. -32- Fot Pierce/Stuart Member AICPA ~Mee AICPA Division For CPA Finns Member FICPA Privets Companies Panties Section Agenda Page 87 c�.c Berger, Toombs, Elam, -cl Gaines & Frank Certified Vuhli.Atxvtuntants PI. 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. Berger, ' oom6s, Efam, Gaines c Frank, Berger,Toombs, Elam, Gaines&Frank Certified Public Accountants PL Fort Pierce, Florida April 7, 2015 -33- Berger, Toombs, Elam, Agenda Page 88 -e Gaines & Frank Certified Public.Accountants PL 600 Citrus Avenue Suite 200 Fort Pierce,Florida 34950 772/461-6120//461-1155 FAX: 772/468-9278 MANAGEMENT LETTER To the Board of Supervisors Port of the Islands Community Improvement District Collier County, Florida Report on the Financial Statements We have audited the financial statements of the Port of the Islands Community Improvement District as of and for the year ended September 30, 2014, and have issued our report thereon dated April 7, 2015. Auditor's Responsibility 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. Other Reports and Schedule 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 and our Independent Auditor's Report on an examination conducted in accordance with AICPA Professionals Standards, Section 601 regarding compliance requirements in accordance with Chapter 10.550, Rules of the Auditor General. Disclosures in that report, which is dated April 7, 2015, should be considered in conjunction with this Management Letter. Prior Audit Findings Section 10.554(1)(i)1., Rules of the Auditor General, requires 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. Financial Condition Section 10.554(1)(i)5.a., Rules of the Auditor General, requires that we report the results of our determination as to whether or not Port of the Islands Community Improvement District has met one or more of the conditions described in Section 218.503(1), Florida Statutes, and identification of the specific conditions met. In connection with our audit, we determined that the Port of the Islands Community Improvement District did not meet any of the conditions described in Section 218.503(1), Florida Statutes. -34- Fort Marco/Stuart Member AICPA Member AICPA P'eiun For CPA Firms Member FRCPA Private Companies Practice Section Agenda Page 89 cjc Berger, Toombs, Elam, Gaines & Frank [:urtitied Puhli,Accountants Pt To the Board of Supervisors Port of the Islands Community Improvement District Pursuant to Sections 10.554(1)(i)5.c. and 10.556(8), Rules of the Auditor General, we applied financial conditions assessment procedures. It is management's responsibility to monitor the Port of the Islands Community Improvement District'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. Annual Financial Report Section 10.554(1)(i)5.b., Rules of the Auditor General, requires that we report the results of our determination as to whether the annual financial report for the Port of the Islands Community Improvement District for the fiscal year ended September 30, 2014,filed with the Florida Department of Financial Services pursuant to Section 218.32(1)(a), Florida Statutes, is in agreement with the annual financial audit report for the fiscal year ended September 30, 2014. In connection with our audit, we determined that these two reports were in agreement. Other Matters Section 10.554(1)(i)2., Rules of the Auditor General, requires that we address in the Management Letter any recommendations to improve financial management. In connection with our audit, we have no such recommendations. Section 10.554(1)(i)3., Rules of the Auditor General, requires that we address noncompliance with provisions of contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred, that have an effect on the financial statements that is less than material but which warrants the attention of those charged with governance. In connection with our audit, we discovered no such findings. Purpose of this Letter Our Management Letter is intended solely for the information and use of the Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, Federal and other granting agencies, the Board of Supervisors, and applicable management, and is not intended to be and should not be used by anyone other than these specified parties. (Berger, Toombs, Elam, Gaines at Frank Berger, Toombs, Elam, Gaines&Frank Certified Public Accountants PL Fort Pierce, Florida April 7, 2015 -35- <<E- Berger, Toombs, Elam, Agenda Page 90 e 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 ACCOUNTANT'S REPORT/COMPLIANCE WITH SECTION 218.415, FLORIDA STATUTES To the Board of Supervisors Port of the Islands Community Improvement District Collier County, Florida We have examined Port of the Islands Community Improvement District's compliance with Section 218.415, Florida Statutes during the year ended September 30, 2014. Management is responsible for Port of the Islands Community Improvement District's compliance with those requirements. Our responsibility is to express an opinion on Port of the Islands Community Improvement District's compliance based on our examination. Our examination was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants and, accordingly, included examining, on a test basis, evidence about Port of the Islands Community Improvement District's compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our examination provides a reasonable basis for our opinion. Our examination does not provide a legal determination on Port of the Islands Community Improvement District's compliance with the specified requirements. In our opinion, Port of the Islands Community Improvement District complied, in all material respects,with the aforementioned requirements during the year ended September 30, 2014. verger, Toombs, Elam, Gaines Frank Berger, Toombs, Elam, Gaines&Frank Certified Public Accountants PL Fort Pierce, Florida April 7, 2015 -36- Fon Pierce/Stuart Member AICPA Member AICPA Division Fer CPA Firms Member FICPA Private Companies Practice Section Agenda Page 92 PORT OF THE ISLANDS Community Improvement District Annual Operating Budget Fiscal Year 2016 Version 1 -Proposed Budget: (Printed on 4/6/2015 10am) Prepared by: SEVERN TRENT SERVICES PORT OF THE ISLANDS Agenda Page 93 Community Improvement District Table of Contents Page# OPERATING BUDGET General Fund Summary of Revenues,Expenditures and Changes in Fund Balances 1-2 BudgetNarrative 3-5 Exhibit A-Allocation of Fund Balances 6 Water and Sewer Fund Summary of Revenues, Expenditures and Changes in Fund Balances 7-8 BudgetNarrative 9-12 Amortization Schedule ........... 13 SUPPORTING BUDGET SCHEDULES 2015-2016 Non-Ad Valorem Assessment Summary 14 CIP Schedule Agenda Page 94 Port of the Islands Community Improvement District Operating Budget Fiscal Year 2016 PORT OF THE ISLANDS Agenda Page 95 Community Improvement District General Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2016 Proposed Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL BUDGET THRU APR- PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2013 FY 2014 FY 2015 MAR-2015 SEP-2015 FY 2015 FY 2016 REVENUES Interest-Investments $ 3,324 $ 2,262 $ 2,153 $ 884 $ 884 $ 1,768 $ 1,673 Net'nor(Deer)In FMV-Invest 1,580 (658) - - -- - Interest-Tax Collector 32 22 - 22 - Special Assmnts-Tax Collector 402,232 327,741 430,597 306,086 28,023 334,109 334,109 Special Assmnts-Off Roll - - - - 96,490 96,490 96,490 Special Assmnts-Discounts (8,552) (8,739) (17,224) (9,818) - (9,818) (17,224) Other Miscellaneous Revenues 1,575 1,162 1,870 - 1,870 - TOTAL REVENUES 400,191 321,568 415,526 299,044 125,396 424,440 415,048 I EXPENDITURES Administrative P/R-Board of Supervisors 6,800 6,500 7,000 2,900 4,100 7,000 7,000 FICA Taxes 520 497 536 222 314 536 536 ProfServ-Engineering 18,450 16,010 26,000 4,628 13,000 17,628 19,000 ProfServ-Legal Services 28,245 19,705 14,000 6,000 14,000 20,000 20,000 ProfServ-Mgmt Consulting Sery 28,365 29,216 30.092 15,046 15,046 30,092 30,995 ProfServ-Property Appraiser 6,531 6,531 6,459 6.460 - 8,460 5,012 ProfServ-Special Assessment 9,243 9,520 9,806 9,806 - 9,806 10,100 Auditing Services 3,500 3,500 3,500 - 3,500 3,500 3,500 Communication-Telephone 14 - - - - - - Postage and Freight 1,030 724 1,200 159 159 318 600 Rental-Meeting Room 300 300 350 150 200 350 350 Insurance-General Liability 8,103 7,989 8,786 4,072 4,380 6,452 9,719 Printing and Binding 1,006 607 1,300 143 143 286 600 Legal Advertising 223 1,719 1,000 162 838 1,000 1,000 Miscellaneous Services 543 425 1,380 338 338 678 1,380 Misc-Assessmnt Collection Cost 4,860 4,016 8,612 4,994 1,688 6,662 6,682 Misc-Web Hosting 969 969 1,000 425 575 1,000 1,000 Office Supplies 186 132 500 14 300 314 350 Annual District Filing Fee 175 175 175 175 - 175 175 Total Administrative 119,063 108,735 121,698 55,694 58,580 114,274 117,999 Field Contracts-Mgmt Services 97,123 100,000 100,000 50,000 50,000 100,000 100,000 Contracts-Landscape 85,727 82,830 82,830 41,415 41,415 82,830 82,830 Electricity-Streetllghting 18,154 15,176 19,000 7,437 7,437 14,874 18,000 Utility-Irrigation 13.060 15,956 17,000 7,644 7,644 15,288 17,000 R&M-Renewal and Replacement 12,714 33,564 70,000 840 69,180 70,000 70,000 R&M-Roads&Alleyways - 8,295 4,000 19,000 - 19,000 8,220 R&M-Signage - 1,525 1,000 84 916 1,000 1,000 Total Field 226,778 257,346 293,830 126,420 176,672 302,992 297,050 TOTAL EXPENDITURES 345,841 386,081 415,526 182,114 235,152 417,266 415,048 Annual Operating Budget Fiscal Year 2016 1 Agenda Page 96 PORT OF THE ISLANDS Community Improvement District General Fund Summary of Revenues,Expenditures and Changes in Fund Balances Fiscal Year 2016 Proposed Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL BUDGET THRU APR- PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2013 FY 2014 FY 2015 MAR-2015 SEP-2015 FY 2015 FY 2016 Excess(deficiency)of revenues Over(under)expenditures 54,350 (44,513) - 116,930 (109,756) 7,174 (0) OTHER FINANCING SOURCES(USES) Operating Transfers-Out - (368,000) - - - - - Contribution to(Use of)Fund Balance - - - - - - (0) TOTAL OTHER SOURCES(USES) - (368,000) - - - - (0) Net change in fund balance 54,350 (412,513) - 116,930 (109,756) 7,174 (0) FUND BALANCE,BEGINNING 1,206,355 1.260,705 848,192 848,192 - 848,192 855.366 FUND BALANCE,ENDING $ 1,260,705 $848,192 $848,192 $965,122 $(109,756) $ 855,366 $855,368 Annual Operating Budget Fiscal Year 2016 2 Agenda Page 97 PORT OF THE ISLANDS Community Improvement District General Fund Budget Narrative Fiscal Year 2016 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-Off Roll The District will invoice and collect Non-Ad Valorem assessments,on certain properties within the District, off roll 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. Annual Operating Budget Fiscal Year 2016 3 Agenda Page 98 PORT OF THE ISLANDS Community Improvement District General Fund Budget Narrative Fiscal Year 2016 EXPENDITURES Administrative(continued) 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. 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 2016 budget includes an estimated 15% increase of the actual FY 2015 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 FY2016 budget for collection costs was based on a maximum of 2%of the anticipated assessment collections. Miscellaneous-Web Hosting The District expects to incur costs associated with Web Hosting. Office Supplies Supplies used in the preparation and binding of agenda packages,required mailings,and other special projects. Annual Operating Budget Fiscal Year 2016 4 Agenda Page 99 PORT OF THE ISLANDS Community Improvement District General Fund Budget Narrative Fiscal Year 2016 IEXPENDITURES Administrative(continued) Annual District Filing Fee The District is required to pay an annual fee of$175 to the Department of Economic Opportunity Division of Community Development. Field Contracts-Mgmt Services The District has contracted with Severn Trent Environmental Services to provide operating, maintenance and field management services. This contract includes a predetermined amount of R&M costs. Costs above the specified amount are recorded as'R&M-Renewal and Replacement'. Any unused R&M costs are returned to the district Contracts-Landscape Soto's Lawn currently provides monthly landscape services to the district for a monthly fee of$6,902($82,830/year). Electricity-Streetlighting The District currently has 3 electric accounts with Lee County Cooperative for streetlights located on District Roads. Expenses are based on prior year's electric bills. The district receives a reimbursement for a portion of the decorative street lighting from Orchid Cove. Account No. Service Address 0051120000 0 Eveningstar Cay 4941120000 Newport Drive 5741120000 262 Stella Maris Utility-Irrigation The District is currently being billed by the Water/Sewer Fund of Port of the Islands CID for irrigation water for the common areas that the District is required to maintain. R&M-Renewal and Replacement Various costs incurred as needed including but not limited to the entrance,monuments,lighting and lake mgmt. R&M-Roads&Alleyways Expenses incurred while maintaining District roadways. R&M-Signage This category includes costs for maintaining or replacing signage throughout the District. Annual Operating Budget Fiscal Year 2016 5 PORT OF THE ISLANDS Agenda Page 100 Community Improvement District General Fund Exhibit"A" Allocation of Fund Balances AVAILABLE FUNDS Amount Beginning Fund Balance-Fiscal Year 2016 $ 863,366 Net Change in Fund Balance-Fiscal Year 2016 (0) Reserves-Fiscal Year 2016 Additions - Total Funds Available(Estimated)-9/30/2016 863,366 ALLOCATION OF AVAILABLE FUNDS Assigned Fund Balance Operating Reserve-First Quarter Operating Capital 103,762 (1) Subtotal 103,762 Total Allocation of Available Funds 103,762 Total Unassigned(undesignated)Cash $ 759,604 Notes (1)Represents approximately 3 months of operating expenditures Annual Operating and Debt Service Budget Fiscal Year 2016 6 Agenda Page 101 PORT OF THE ISLANDS Community Improvement District Water And Sewer Fund Summary of Revenues, Expenses and Changes in Net Assets Fiscal Year 2016 Proposed Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL BUDGET THRU APR- PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2013 FY 2014 FY 2015 MAR-2015 SEP-2015 FY 2015 FY 2016 OPERATING REVENUES Interest Investments $ 337 $ 337 $ 285 $ 74 $ 211 $ 285 $ 257 Water Revenue 41,561 45,207 53,700 26,492 26,492 52,984 52,000 Sewer Revenue 64,573 68,913 81,200 38,430 38,430 76,860 76,000 Irrigation Fees 91,707 95,066 110,900 54,431 54,431 108,862 108,000 Meter Fees - 2,500 - - - - - Net Incr(Deer)In FMV-Invest 2,942 (1,598) - - - - - Special Assmnts-Tax Collector 1,048,562 854,375 1,139,500 770,301 70,523 840,824 840,824 Special Assmnts-Off Roll - - - - 298,676 298,676 298,876 Special Assmnts-Discounts (22,294) (22,782) (45,580) (24,707) - (24,707) (45,580) Other Miscellaneous Revenues 6,895 11,259 2,121 2,121 - TOTAL OPERATING REVENUES 1,234,283 1,053,277 1,340,005 867,142 488,763 1,355,905 1,330,177 OPERATING EXPENSES Personnel and Administration P/R-Board of Supervisors 6,800 8,500 7,000 2,900 4,100 7,000 7,000 FICA Taxes 520 497 536 222 314 538 536 ProfServ-Engineering 18,450 16,010 26,000 4,628 13,000 17,628 19,000 ProfServ-Legal Services 28,245 19,704 14,000 6,000 14,000 20,000 20,000 ProfServ-Mgmt Consulting Sery 28,482 29,336 30,216 15,108 15,108 30,216 31,122 ProfServ-Property Appraiser 17,025 17,025 17,093 17,096 - 17,096 12,612 ProfServ-Special Assessment 7,885 8,122 8,366 8,366 - 8,368 8,617 Auditing Services 3,500 3,500 3,500 - 3,500 3,500 3,500 Communication-Telephone 14 - - - - - Postage and Freight 786 883 1,200 509 336 845 700 Rental-Meeting Room 300 300 350 150 200 350 350 Insurance-General Liability 7,577 7,989 8,786 4,072 4,380 8,452 9,719 Printing and Binding 754 807 1,300 143 143 286 600 Legal Advertising 162 1,719 1,000 162 838 1,000 1,000 Miscellaneous Services 2,467 1,463 2,600 897 897 1,794 2,600 Misc-Assessmnt Collection Cost 12,670 10,470 22,790 12,567 4,249.49 16,816 16,816 Office Supplies 214 132 500 14 300 314 350 Depreciation Expense 491,203 494,510 - - - - - Total Personnel and Administratio, 627,054 618,967 145,237 72,834 61,365 134,199 134,523 Water-Sewer Comb Services Contracts-Mgmt Services 302,932 309,533 309.533 154,766 154,767 309,533 309.533 Contracts-Other Services 1,750 1,750 - - - - - Contracts-Generator Maint - - 1,750 551 1,750 2,301 1,750 Communication-Teleph-Field 4,595 4,336 4,512 2,240 1,698 3,938 4,270 Utility -General 80,034 82,514 87,000 41,901 41,901 83,802 86,000 R&M-Irrigation 9,845 33,162 35,000 2,384 17,500 19,884 22,570 R&M-Lift Station - - - 109 4,000 4,109 6,000 R&M-Potable Water Lines - - - 4,331 - 4,331 6,000 -r Annual Operating Budget Fiscal Year 2016 7 PORT OF THE ISLANDS Agenda Page 102 Community Improvement District Water And Sewer Fund Summary of Revenues, Expenses and Changes in Net Assets Fiscal Year 2016 Proposed Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL BUDGET THRU APR- PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2013 FY 2014 FY 2015 MAR-2015 SEP-2015 FY 2015 FY 2016 R&M-Water Plant 47.699 56,446 20,000 12,591 - 12,591 10,000 R&M-Waste Water Plant 26,338 32,050 15,000 (3,418) 15,000 11,582 16,000 R&M-Sewer Lines - - - 1,271 3,000 4,271 6,000 R&M-Backflow Inspection - - - 240 4,000 4,240 4,000 Misc-Bad Debt 1,267 99 - - - - Misc-Licenses&Permits 4,375 7,375 7,375 - 7,375 7,375 7,375 Cap Outlay-Waste Water Plant - - 50,796 18,764 32,032 50,796 60,796 Total Water-Sewer Comb Services 478,835 527,265 530,966 235,730 283,023 518,753 540,294 Debt Service Principal Debt Retirement - - 532,827 - 532,827 532,827 551,529 Interest Expense 150,783 133,073 122,533 10,211 112,322 122,533 103,831 Total Debt Service 150,783 133,073 655,360 10,211 645,149 655,360 655,360 TOTAL OPERATING EXPENSES 1,256,672 1,279,305 1,331,563 318,775 989,536 1,308,311 1,330,177 Operating income(loss) (22,389) (226,028) 8,442 548,367 (500,773) 47,594 0 OTHER FINANCING SOURCES(USES) Interfund Transfer-In - 368,000 - - - - - Comp/Loss-Gen'l Capt'I Assets - (17,688) - - - - - Contribution to(Use of)Fund Balance - - - - - - - TOTAL OTHER SOURCES(USES) - 350,312 - - - - - I Change in net assets (22,389) 124,284 8,442 548,367 (500,773) 47,594 0 TOTAL NET ASSETS,BEGINNING 7,548,546 7,494,536 7,618,820 7,618,820 - 7,618,820 7,666,414 TOTAL NET ASSETS,ENDING $7,494,536 $7,618,820 $7,627,262 $8,167,187 $(500,773) $7,666,414 $7,666,414 Annual Operating Budget Fiscal Year 2016 8 PORT OF THE ISLANDS Agenda Page 103 Community Improvement District Water and Sewer Fund Budget Narrative Fiscal Year 2016 REVENUES Interest-Investments The District earns interest income on their operational accounts. Water Revenue Rates are based on prior year's water consumption,anticipated use and a modest board approved rate increase based on the consumer's price index. Sewer Revenue Rates are based on prior year's water consumption,anticipated use and a modest board approved rate increase based on the consumer's price index. Irrigation Fees Rates are based on prior year's irrigation water consumption,anticipated use and a modest board approved rate increase based on the consumer's price index. 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-Off Roll The District will invoice and collect Non-Ad Valorem assessments,on certain properties within the District,off roll 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 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. Annual Operating Budget Fiscal Year 2016 9 Agenda Page 104 PORT OF THE ISLANDS Community Improvement District Water and Sewer Fund Budget Narrative Fiscal Year 2016 IEXPENDITURES Administrative(continued) 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. 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 FY2016 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 Districts 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 evenly. Water and sewer billing costs (i.e. international mailing)will be recorded in the water and sewer fund only. Rentals—Meeting Room The District is charged$50 per occurrence for the use of the meeting room at which the districts 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 2016 budget includes an estimated 15%increase of the actual FY 2015 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 FY2016 budget for collection costs was based on a maximum of 2%of the anticipated assessment collections. Annual Operating Budget Fiscal Year 2016 10 PORT OF THE ISLANDS Agenda Page 105 Community Improvement District Water and Sewer Fund Budget Narrative Fiscal Year 2016 EXPENDITURES Administrative(continued) Office Supplies Supplies used in the preparation and binding of agenda packages,required mailings,and other special projects. The fees will be split with the General Fund based on the percent budgeted for each fund. Water-Sewer Comb Services 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) $2,700 Century Link Plant Fax Line (239-642-9392) 600 Simplex Grinnell Alarm Monitoring 850 Sprint Automated svc to notify Bob of power failures 120 Total $4,270 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 7824900000 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-Lift Station Repair and maintenance costs associated with the lift stations. R&M—Potable Water Lines Repair and maintenance costs associated with the water lines throughout the district. Annual Operating Budget Fiscal Year 2016 11 Agenda Page 106 PORT OF THE ISLANDS Community Improvement District Water and Sewer Fund Budget Narrative Fiscal Year 2016 EXPENDITURES Field(continued) 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. R&M—Sewer Lines Repair and maintenance costs associated with the sewer lines throughout the district. R&M-Backflow Inspection Costs for periodic backflow inspections and repairs. Miscellaneous-Licenses&Permits Costs incurred for various licenses and permits pertaining to the water and waste water plants including an annual drinking water license and waste water regulatory fee. Capital Outlay—Waste Water Plant Funds spent on capital improvement projects for the water and waste water plants. • W-19$10,000 VIDEO SURVEILLANCE AND MONITORING • 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 2016 12 Agenda Page 107 PORT OF THE ISLANDS Community Improvement District Debt Amortization Series 2010 Bond Period Coupon Debt Annual Debt Ending Principal Rate Interest Service Service 11/1/2015 $51,915.45 $51,915.45 5/1/2018 $551,528.72 3.510% $51,915.45 $603,444.17 $655,359.62 11/1/2016 $42,236.12 $42,236.12 5/1/2017 $570,887.38 3.510% $42,236.12 $613,123.50 $655,359.62 11/1/2017 $32,217,04 $32,217.04 5/1/2018 $590,925.52 3.510% $32,217.04 $623,142.56 $655,359.60 11/1/2018 S21,846.30 S21,846.30 5/1/2019 $611,667.01 3.510% S21,846.30 $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 $3,490,971.66 $441,186.02 $3,932,157.68 $3,932,157.68 13 Agenda Page 108 Port of the Islands Community Improvement District Supporting Budget Schedules Fiscal Year 2016 Agenda Page 110 PORT OF THE ISLANDS Community Improvement District Al!Funds Capital Improvement Program-Status Report Updated thru 3/31/15 WATER PROGRAM PROJECT PAID NO. PROJECT NAME OR DESCRIPTION FY 2015 PAID IN FY INCEPTION TO FY 2016 FY 2017 FY 2018 FY 2019 PROJECT ESTIMATE'`I 2015'' DATE I'I STATUS W-19 Video surveillance and monitoring $ - $ - $ - $ 10,000 $ - $ $ - ST project W-22 Fire hydrant repair and replacement $ - $ - $ 3,090 $ - $ - $ - $ - S r project Total Water Program $ - $ - $ 3,090_$ 10,000 $ - $ - $ - WASTEWATER PROGRAM ST combined WW 23 SCADA and control panel for lift stations $ 30,796 $ - $ 77,137 $ 30,796 $ 30,796 $ - $ - w/WW-26 WW-24 MBR Membranes $ 20,000 $ - $ - $ 20,000 $ - $ - $ - ST WW-25 Misc.Equipment Replacement $ . $ - $ - $ - $ - $ _ $ WW-26 Replace lift station control panel $ 96,204 $ 18,764 $ 18,764 $ - $ - $ - $ - Total Wastewater Program $ 147,000 $ 18,784 $ 95,901 $ 50,796 5 30,796 $ • $ . Total WateriSewer Fund! $ 147,0001$ 18,764 l$ 98,9901$ 60,796 1$ 30,7961$ -1$ ka -: NO'E l':The amounts shown in the'FY 2015 ESTIMATE'columns reflect the most recent approximation of what the District expects to spend on each project between October 1,2014 and September 30,2015_ NOTE t'l: The amounts shown in the'PAID IN FY 2015'column reflects project expenses incurred between October 1,2014 and September 30,2015. The total of these columns will he to the amounts reported as'Year to Date Actual-Capital Outlay'in the corresponding monthly financial statements. NOTE l'I: The'PAID INCEPTION TO DATE'columns reflect any payments made between FY 2006 and present Report Date:4/2/2015 15 "4-4e_ I March 2015 Field Managers Report Water Treatment Plant Operations and Maintenance The Water Treatment Plant produced and distributed 2.741 MG for the month of March,which is an average of .088 MGD. Wastewater Plant Operations and Maintenance The WWTP treated approximately 2.485 MG for the month of March, which is an average of.080 MGD Reuse System Operations and Maintenance The reuse system delivered 8.602 MG for the month of March, which is an average of.277 MGD. Permit Compliance: Water Treatment Plant: *All permit requirements met Wastewater Treatment Plant *AII permit requirements met At Our Treatment Facility • The new lift station panels have been installed. I'll prepare photos for the next month's report. • We entered into the Best Tasting Water Contest again this year. Unfortunately, we did not win, however, we received an honorable mention. I'm confident that we can win, sooner or later! • One of our MBR blowers failed. New one has been ordered and soon to be delivered and installed. • On Wednesday April 15th, our Severn Trent Executive Management Team, along with many of our Company's Leaders, came to Port of The Islands for a visit, and toured our facility. 1 12600 Union Road Naples,Florida 34114•Tel 239-642-9219•Fax 239-642.9469•wwwseverntrentsorvices,co n ,06--"tC kectiv k3 March 2015 Field Managers Report In The Community: • The Stella Mans North Community had a work day one weekend, and spent it cleaning the monuments on the end of Cays Drive. Now, since the monuments are clean,the community has asked if we would have them painted. A iiirt.„ ' ''l i _ . v.1, --,' '''t, 11111, (.. -„ .-i � FS �Y CMMS Work Order Report—March 2015 Summary Total#of WO's 248 Total#of Preventative 247 Total#of Corrective 1 Total#of WO's Completed 240 Total Hours 125.0 2 12600 Union Road Naples,Florida 34114•Tel 239-642-9219•Fax 239-642-9469•yAv s weverntrentservices com , opt-tge_.Is QcAite k' .3 i March 2015 Field Managers Report Potable Water Report 5- 45 4 35 3 2.d75 2 741 2 461 _A 8' 2.5 2 319 „_.....-..„_, 2 185 5 2.044 2.097 ..„....--- --- 4 2 "--■,„--7------....„ 1 72 1 627 I 1 585 1.587 -- .-..... - .......-------1 98 2 143 2 072 I648 _,....--- — 1 5 A........r 1.533 -*---- ---1.434 1 - 108 1 052 0.969 1 142 0 5 5% 6% 6% 8% 8% 9% 6% 7% MO 13% 8% 8% 0 - Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec 14 Jan-16 Feb-15 Mar-15 --a—Water Produced —4.—Water Billed .......%Water Loss I (Approximately 1.6 million gallons reuse for P01 CID Properties—Leaving approximately.6 million unaccounted for,making up the 8%loss of water) Irrigation Water Report 693 6A302.. .................N...N, "i . I 80 --248- I 311 +4 -61,14.9.1.4%..4%■4449 1 70 „....,..,/ 7144 6 98 5 981 7 062 6 959 0 6 0 6 181 165 5 290 5 24.7..........0." 5184 6 325 '2 •••••°°."'". o 5 ....."'“..--1'.229 (.1 e 40 4 fitS ,.....,........------7 701 4.444 es 2 3 921 30 t 20 1 1 0 I 9% 9% 4% 6% 8% 7% 7% 8% 8% 8% 7% 8% 00 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 -1 0 •1 1••••••nrigation Meter.---Irrigation Oiled.........%Water Loss (Approximately.44 MG is used for flushing or treatment plant usage—Leaving approximately.23 MG unaccounted for water,making up the 8% water loss) 3 12600 Union Road Naples,Florida 34114.Tel 239-642-9219.Fax 239-642-9469.www.soverntrentservices.com ELECTRIC SOLUTIONS OF SWFLA INC p osa� PO BOX 990503 MK NAPLES,FL 34116 Pro Proposal Date: 4/15/2015 Proposal#: 409 Project: Bill To: Soto Lawn 2830 35th Ave NE Naples,34120 Description Est.Hours/Qty. Rate Total Total price: 6,500.00 6,500.00 Guard Gate entrance-Add 4-4 ft LED lights to light up the sign from both sides and replace 2 existing halogen landscape lights w/LED lights. Second entrance-Replace 10 existing halogen landscape lights w/LED lights and add a photocell. All new lights come w/new perapost. Option: To add a LED spot light to the flag pole in front of the 500.00 500,00 guard gate. Exclusions: Repairing any of the existing wiring. Total $7,000.00 MEMORANDUM DATE: April 14,2015 TO: Board of Supervisors, Port of the Islands Community Improvement District FROM: Ronald E. Benson,Jr., Ph.D., P.E. Hole Montes, Inc. District Engineer SUBJECT: Future Capital Improvement and Renewal/Replacement Projects Asbestos-cement pipeline replacement As we have discussed over the past few years, it is envisioned that there will eventually be the need to replace the following infrastructure at Port of the Islands at such time as the useful life is reached. This has been a part of the long-term planning for the community, but was agreed that this project would not be budgeted until after retirement of the bonds issued for the new Water Treatment Plant and other projects which were part of the prior Capital Improvement Plan. At this time it is recommended that a budget price of$1.25 million dollars be used until further engineering study and design has been completed. 1. Asbestos-cement raw water pipeline from the wellfield to the water treatment plant. 2. Asbestos-cement finished water pipeline generally located along Union Road from approximately the north bounds of Orchid Cove to near the intersection of Union Road and US 41, and thence along the south side of US 41 to near the intersection of Newport Drive and US 4, and thence along the east side of Newport Drive to approximately the entrance drive to the South Hotel. Some portions of the finished water line along the south side of US 41 were installed more than twenty years ago using PVC pipe and will not require replacement of asbestos-cement pipe. Most of the portion of the asbestos cement pipe between approximately the north-east corner of the South Hotel property and the entrance drive to the South Hotel property will be replaced by the owner of the South Hotel at the time any site development activities may begin. Therefore, the CID is generally responsible only for the segment of asbestos-cement finished water pipeline from approximately the north bounds of Orchid Cove to near the intersection of Union Road and US 41. There is no need or requirement to perform this replacement from a regulatory standpoint, although the potential for failure of any portion of this infrastructure would essentially take the entire potable water and irrigation water system out of service. At this time, in the event of a pipeline break, Severn Trent, possibly involving use of a specialized subcontractor, would provide any needed emergency repairs to the system and place it back into service. As the pipeline continues to get older, there is more and more potential for failures and increased difficulty in making necessary repairs. One recommendation is to request that Severn Trent provide an emergency action plan for what they might do in the event of a failure to either the raw water or finished water pipeline. This plan may include purchase of repair materials (including pipe, fittings, repair clamps, nuts and bolts,and any specialty tools,etc.)and storage of them in the shop at the Water Treatment Plant. The second recommendation is to develop a timeline for design, permitting, and construction of these projects such that they will fit into the budget in upcoming years. For the purpose of establishing the magnitude of anticipated expenditure,the following estimate is provided. Raw Water Pipeline Install approximately 11,000 lineal feet of new 10-inch diameter PVC pipeline, parallel to the existing 8-inch asbestos-cement pipeline. Retain the existing pipeline in service in order to provide a back-up/redundant pipeline in order to accommodate any potential future repair on the new pipeline. This also will minimize the cost of removal and disposal of this pipeline. Any segments of asbestos-cement pipeline removed will need proper disposal. At the point in time in the future when this pipeline is no longer to be used, then it is possible that it might be pumped full of a grout material instead of having to be excavated. The CID has either ownership or pipeline easements which will allow the new pipeline to be constructed. A budgetary cost estimate at this time would be approximately $700,000 [$60/ft x 11,000 ft — rounded up]. Finished Water Pipeline Install approximately 3,500 lineal feet of new 8-inch diameter PVC pipeline, parallel to the existing 8-inch asbestos-cement pipeline. Retain the existing pipeline in service in order to provide a back-up/redundant pipeline in order to accommodate any potential future repair on the new pipeline. This also will minimize the cost of removal and disposal of this pipeline. Any segments of asbestos-cement pipeline removed will need proper disposal. At the point in time in the future when this pipeline is no longer to be used, then it is possible that it might be pumped full of a grout material instead of having to be excavated. A budgetary cost estimate at this time would be approximately $300,000 [$70/ft x 3,500 ft, plus road repairs—rounded up]. A potential Fire and Irrigation Pipeline enhancement At the time the developer of Orchid Cove was designing their community, the CID suggested that they consider design of their potable water and non-potable water systems such that these systems might fit into an overall community plan. The Orchid Cove developer simply refused to consider this. One suggestion made by the CID was to connect the Orchid Cove water lines to the existing CID pipelines at both the northeast corner of Orchid Cove and the southwest corner of Orchid Cove as this would provide a reinforcement of the overall community potable and non- potable water systems in the event of a possible pipeline break. As the Orchid Cove fire and irrigation system consists of an 8-inch diameter loop around the small northern lake fed by a 10- inch diameter pipeline from the south (at a meter assembly), the connection as suggested by the CID at that time would have been a nominal cost of making a connection near the northeast corner of Orchid Cove. At the time of initial development of Orchid Cove,the potable water line through the community could have been installed as an 8-inch diameter pipeline (possibly at a shared cost between the CID and Orchid Cove) instead of the smaller diameter pipeline which the developer intended to install. This would have minimized the need for eventual replacement of the 8-inch diameter asbestos-cement pipeline along Union Road (discussed above). At that time, the Orchid Cove developer demanded their potable and non-potable water systems be connected to the CID systems at a single point of connection deemed convenient to them. This, combined with their intention of how to connect irrigation pipelines to the fire protection pipelines, is part of the history as to why the Orchid Cove fire and irrigation system ended up with a single meter located near their clubhouse. Now that the CID and Orchid Cove have an agreement for maintenance of utilities, although at this time this excludes the fire and irrigation system, there may be a future opportunity for the CID to explore an interconnection of the Orchid Cove non-potable water system with the CID pipeline (running north to south) located directly east of the northeast corner of the Orchid Cove community. This would likely require approximately 500 feet of 10-inch pipeline with valve cut-in at both ends plus a crossing of Union Road. This project may be on the order of$50,000 although would require some additional investigation before moving beyond the conceptual stage of considering whether the paralleling of this segment of the fire and irrigation system would yield sufficient benefits to the portion of the community south of US 41 (in the way of enhanced fire protection flows and pressures).