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FY16/17 Proposed Budget
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT c/o Special District Services, Inc. 2501 Burns Road, Suite A Palm Beach Gardens, Florida 33410 (561) 630-4922 Fax: (561) 630-4923 May 23, 2016 VIA CERTIFIED MAIL— RETURN RECEIPT REQUESTED Clerk of the Circuit Court Collier County Courthouse 3315 Tamiami Trail East Naples, Florida 34112-5324 Re: Ave Maria Stewardship Community District To Whom It May Concern: Pursuant to Florida law, enclosed please find a copy of the following document relative to the above referenced Stewardship Community District: 1.) Proposed Budget Fiscal Year 2016/2017 (Oct. 1, 2016—Sept.30,2017) Should you have any questions or comments, please do not hesitate to contact our office. Sincerely, SPECIAL DISTRICT SERVICES, INC. / / 1 / Laura J. Arc r Enclosure f P 03c ey FJC- Cd o- 4::. • H. 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N UN/T40 p T\) �9m UN ) N ��pp It' 0 Y N O < -1 0 N T l r (j • W N...1 Om • 0 O th .> f Ave Maria Stewardship Community District Proposed Budget For Fiscal Year 2016/2017 October 1, 2016 - September go, 2017 CONTENTS I PROPOSED II DETAILED PROPOSED BUDGET III DETAILED PROPOSED DEBT SERVICE FUND BUDGET IV DETAILED PROPOSED MAINTENANCE BUDGET V ASSESSMENT BREAKDOWN 4/27/2016 10:17 AM , PROPOSED BUDGET AVE MARIA STEWARDSHIP COMMUNITY DISTRICT FISCAL YEAR 2016/2017 October 1,2016-September 30,2017 FISCAL YEAR 2016/2017 REVENUES BUDGET O & M ASSESSMENTS 606,059 DEBT ASSESSMENTS 1,576,021 DEVELOPER CONTRIBUTION FOR 0 & M 1,126,777 DEVELOPER CONTRIBUTION FOR DEBT 2,671,702 OTHER REVENUES 0 TOTAL REVENUES $ 5,980,559 EXPENDITURES ADMINISTRATIVE EXPENDITURES PAYROLL TAXES EXPENSE 612 SUPERVISORS FEES 8,000 ENGINEERING 50,000 MANAGEMENT 70,216 SECRETARIAL 4,500 LEGAL 40,000 ASSESSMENT ROLL 15,000 AUDIT FEES 8,200 ARBITRAGE REBATE FEE 1,500 TRAVEL& LODGING 2,000 INSURANCE 11,760 LEGAL ADVERTISING 2,000 MISCELLANEOUS 1,455 POSTAGE 1,750 OFFICE SUPPLIES 3,000 DUES, LICENSE, &SUBSCRIPTIONS 500 MISCELLANEOUS FILINGS, NOTICES, ETC. 1,000 WEBSITE HOSTING FEES 2,500 TRUSTEE FEES 13,000 CONTINUING DISCLOSURE FEE 5,000 METHODOLOGY REPORT 0 TOTAL ADMINISTRATIVE EXPENDITURES $ 241,993 MAINTENANCE EXPENDITURES MAINTENANCE 1,445,389 MAINTENANCE/INSPECTIONS/ADMIN 0 TOTAL MAINTENANCE EXPENDITURES $ 1,445,389 TOTAL EXPENDITURES $ 1,687,382 EXCESS OR(SHORTFALL) $ 4,293,177 PAYMENT TO TRUSTEE $ (4,129,521) BALANCE $ 163,656 COUNTY APPRAISER &TAX COLLECTOR COST (76,373) DISCOUNTS FOR EARLY PAYMENTS (87,283) NET EXCESS/(SHORTFALL) $ - I DETAILED PROPOSED BUDGET AVE MARIA STEWARDSHIP COMMUNITY DISTRICT FISCAL YEAR 2016/2017 October 1,2016-September 30,2017 FISCAL YEAR FISCAL YEAR FISCAL YEAR 2014/2015 2015/2016 2016/2017 REVENUES ACTUAL BUDGET BUDGET COMMENTS O&M ASSESSMENTS 483,662 606,059 606,059 See Detail on Page 5 DEBT ASSESSMENTS 974,989 1,576,021 1,576,021 See Detail on Page 5 DEVELOPER CONTRIBUTION FOR 0&M 1,041,168 1,115,277 1,126,777 DEVELOPER CONTRIBUTION FOR DEBT 3,035,855 2,667,013 2,671,702 OTHER REVENUES 4,135 0 0 BOND PREPAYENTS RECEIVED 0 0 0 BOND PREPAYMENTS SENT TO TRUSTEE 0 0 0 TOTAL REVENUES $ 5,539,808 $ 5,964,370 $ 5,980,559 EXPENDITURES ADMINISTRATIVE EXPENDITURES PAYROLL TAX EXPENSE 474 612 612 No Change From Previous Budget SUPERVISORS FEES 6,200 8,000 8,000 No Change From Previous Budget ENGINEERING 70,458 50,000 50,000 No Change From Previous Budget MANAGEMENT 55,000 70,216 70,216 No Change From Previous Budget SECRETARIAL 2,000 4,500 4,500 No Change From Previous Budget LEGAL 47,295 30,000 40,000 $10,000 Increase From Previous Budget ASSESSMENT ROLL 15,000 15,000 15,000 No Change From Previous Budget AUDIT FEES 7,900 8,200 8,200 No Change From Previous Budget ARBITRAGE REBATE FEE 1,300 1,500 1,500 No Change From Previous Budget TRAVEL&LODGING 1,808 1,000 2,000 $1,000 Increase From Previous Budget INSURANCE 10,453 11,760 11,760 No Change From Previous Budget LEGAL ADVERTISING 3,481 1,500 2,000 $500 Increase From Previous Budget MISCELLANEOUS 1,043 1,455 1,455 No Change From Previous Budget POSTAGE 1,469 1,750 1,750 No Change From Previous Budget OFFICE SUPPLIES 3,443 3,000 3,000 No Change From Previous Budget DUES,LICENSE,&SUBSCRIPTIONS 175 500 500 No Change From Previous Budget MISCELLANEOUS FILINGS,NOTICES,ETC. 0 1,000 1,000 No Change From Previous Budget WEBSITE HOSTING FEES 2,500 2,500 2,500 No Change From Previous Budget TRUSTEE FEES 11,525 13,000 13,000 No Change From Previous Budget CONTINUING DISCLOSURE FEE 5,000 5,000 5,000 No Change From Previous Budget METHODOLOGY REPORT 0 0 0 No Change From Previous Budget TOTAL ADMINISTRATIVE EXPENDITURES $ 246,523 $ 230,493 $ 241,993 MAINTENANCE EXPENDITURES MAINTENANCE 1,338,439 1,445,389 1,445,389 Total Maintenance-See Detail On Page 4 MAINTENANCE/INSPECTIONS/PERMIT 5,224 0 0 TOTAL MAINTENANCE EXPENDITURES $ 1,343,663 $ 1,445,389 $ 1,445,389 TOTAL EXPENDITURES $ 1,590,187 $ 1,675,882 $ 1,687,382 EXCESS OR(SHORTFALL) $ 3,949,622 $ 4,288,488 $ 4,293,177 BOND PAYMENTS (3,959,342) $ (4,124,832) $ (4,129,521) 2016 P&I Payments BALANCE $ (9,720) $ 163,656 $ 163,656 COUNTY APPRAISER&TAX COLLECTOR COST (39,120) (76,373) (76,373) 3.5%Of Total Roll(2%Appraiser,1.5%Collector) DISCOUNTS FOR EARLY PAYMENTS (48,848) (87,283) (87,283) 4%Of Total Tax Roll NET EXCESS/(SHORTFALL) $ (97,688) $ - $ - II DETAILED PROPOSED DEBT SERVICE FUND BUDGET AVE MARIA STEWARDSHIP COMMUNITY DISTRICT FISCAL YEAR 2016/2017 October 1,2016-September 30,2017 FISCAL YEAR FISCAL YEAR FISCAL YEAR 2014/2015 2015/2016 2016/2017 REVENUES ACTUALS BUDGET BUDGET COMMENTS Interest Income('O6 Bond) 21,470 0 0 DS Reserve Interest is now going to the Deferred Cost Account Interest Income(12 Bond) 27,526 0 0 DS Reserve Interest is now going to the Deferred Cost Account Net NAV Collection 923,488 1,457,819 1,457,819 Per Assessment Breakdown(page 5)less 7.5%for Discounts and Fees Developer Contribution 3,035,855 2,667,013 2,671,702 Prepaid Bond Collection 0 0 0 Total Revenues $ 4,008,338 $ 4,124,832 $ 4,129,521 EXPENDITURES Principal Payments('06 Bond) 530,000 540,000 570,000 2006 Bond Principal Payment Due In 2017 Interest Payments('06 Bond) 1,208,347 1,167,731 1,138,775 2006 Bond Interest Payments Due In 2017 Principal Payments('12 Bond) 355,000 380,000 410,000 2012 Bond Principal Payment Due In 2017 Interest Payments('12 Bond) 1,906,485 1,869,970 1,840,490 2012 Bond Interest Payments Due In 2017 Principal Payments('15 Bond) 0 35,000 40,000 2015 Bond Principal Payment Due In 2017 Interest Payments('15 Bond) 20,690 132,131 130,256 2015 Bond Interest Payments Due In 2017 Total Expenditures $ 4,020,522 $ 4,124,832 $ 4,129,521 Excess/(Shortfall) $ (12,183) $ - $ - Series 2006 Bond Information Original Par Amount= $26,245,000 Annual Principal Payments Due= May 1st Interest Rate= 5.125% Annual Interest Payments Due= May 1st&November 1st Issue Date= December 2006 Maturity Date= May 2038 Series 2012 Bond Information Original Par Amount= $29,100,000 Annual Principal Payments Due= May 1st Interest Rate= 6.700% Annual Interest Payments Due= May 1st&November 1st Issue Date= June 2012 Maturity Date= May 2042 Series 2015 Bond Information Original Par Amount= $2,530,000 Annual Principal Payments Due= May 1st Interest Rate= 5.000%-5.375% Annual Interest Payments Due= May 1st&November 1st Issue Date= March 2015 Maturity Date= May 2045 I I I DETAILED PROPOSED MAINTENANCE BUDGET AVE MARIA STEWARDSHIP COMMUNITY DISTRICT FISCAL YEAR 2016/2017 October 1, 2016 -September 30, 2017 FISCAL YEAR FISCAL YEAR FISCAL YEAR 2014/2015 2015/2016 2016/2017 ACTUAL BUDGET BUDGET MAINTENANCE EXPENDITURES ELECTRIC (STREETLIGHTS, LANDSCAPE) 77,851 90,000 90,000 STREET SWEEPING 0 5,000 5,000 STRIPING & TRAFFIC MARKINGS 0 24,000 10,000 STREET LIGHT MAINTENANCE 58,208 40,000 40,000 SIDEWALK/ CURB REPAIRS 21,531 12,000 29,500 HIGH TECH CROSSWALKS 52,605 0 0 LANDSCAPE MAINTENANCE (ROADWAY, ENTRIES): MAINTENANCE CONTRACTS 449,334 470,000 470,000 TREE TRIMMING 0 40,389 40,639 STORM CLEANUP 6,741 40,000 25,000 PLANT REPLACEMENT 29,727 30,000 30,000 MULCH & MISCELLANEOUS 65,301 60,000 80,000 MISC. UTILITIES 0 5,000 5,000 ELECTRICITY 0 0 0 IRRIGATION WATER 70,682 80,000 80,000 IRRIGATION REPAIR 35,156 30,000 30,000 ENTRY FEATURE WATER 2,738 0 0 FOUNTAIN MAINTENANCE 56,833 10,000 10,000 RODENT / PEST CONTROL 370 4,000 2,000 EQUIPMENT REPAIR 513 1,000 1,000 SIGNAGE REPAIR 3,617 8,000 8,000 WATER MANAGEMENT & DRAINAGE 3,341 3,000 3,000 STORM DRAIN CLEANING 0 4,250 4,250 DRAINAGE / LAKE MAINTENANCE/ LITTORALS 65,024 75,000 70,000 AERATORS 8,970 6,000 9,000 AQUATIC REPLACEMENTS 0 5,000 3,000 PRESERVE MAINTENANCE 28,927 80,000 40,000 TAXES & LICENSES 1,000 0 0 INSURANCE 0 0 0 SMALL TOOLS 0 3,000 2,000 MISCELLANEOUS MAINT. 317 0 0 MISC. REPAIRS 4,312 5,000 5,000 VEHICLE LEASE / FUEL/ REPAIRS (MAINT TECH) 9,841 5,000 10,000 MOSQUITO CONTROL 98,325 80,000 110,000 FISH STOCKING 0 5,000 5,000 TEMP FIRE FACILITY OPERATING COSTS 56,956 65,000 65,000 ADMINISTRATIVE SUPPLIES 0 500 500 OFFICE LEASE 0 0 0 OFFICE UTILITIES 0 0 0 MAINTENANCE TECHNICIANS 68,883 65,000 70,000 BASE MANAGEMENT FEE 16,177 24,000 20,000 ADMIN PAYROLL 24,264 27,750 30,000 TOTAL MAINTENANCE EXPENDITURES $ 1,317,543 $ 1,402,889 $ 1,402,889 RESERVE FUND 20,896 27,500 27,500 CONTINGENCY FUND 0 15,000 15,000 TOTAL $ 1,338,439 $ 1,445,389 $ 1,445,389 IV • -g % A( k §k( _ „ - 41E I | . , . . . . /w\ 12 4a_t „ . . . . 49 . ( N ., U /)} } \ } / K §2 "• 4. 4. 4- ` 0In • - - - \ J�4 \ \ _ . \ \ _ . E 8S { 2 2 ! , sr , a, , a, , / \ 2 |! E ± & = . o '5 § 7 ; .en r-- 0 / 0_ 2 \ � 0 - . - _ � _ � � ƒ� _ 42 f , � 2,c m � °/ ~ � , � �/ K © 15 I I-e >_ _ _ . � _ _ \ \ - \ _ _\ � . \ k2 � , , , , , , ;; E I k§ 81 4' zit (a § _ . . _ a _ _ _ . . . . . . . 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ODDD � 3 , r ,2 , , f ;k ° ( t./ ii\ © ° © ° � g) )( `I. ~ ` %{f p. if§ U- , £_ K), ma/ );- 7k I/ L tu0 MS 00 0 id CO\ - A #{k : \ { §$a OR ~ „ ® ° © ° - - ° , _ , } p { f > \)� ) | / )cil {\! . f � \ \ ! - j /§ = � �� • � t4q $ [ ■ « ) § _ \%§ - | $ k@ _ ! f ! £ ) / 2 -- k � (• ƒ \ ƒ � ( � \ ( \ � ) \ ) § fa ±\ / 2 .i '2 | § 2 £ - - - , 6J ) ! $ - 1 ! « w• / asee ® A ) ! kf ! ff / ) ® # $ w / z • PROPOSED AVE MARIA UTILITY BUDGET AVE MARIA STEWARDSHIP COMMUNITY DISTRICT FISCAL YEAR 2016/2017 October 1, 2016 -September 30, 2017 FISCAL YEAR FISCAL YEAR FISCAL YEAR 2014/2015 2015/2016 2016/2017 REVENUES ACTUAL BUDGET BUDGET COMMENTS AMUC Income 393,116 354,000 400,000 Approximately 3/4 of Expenditures Developer Contribution 65,000 90,000 134,000 Approximately 1/4 of Expenditures Total Revenues $ 458,116 $ 444,000 $ 534,000 EXPENDITURES OMI Operating Fee 281,245 282,000 360,000 Estimate of$30,000 per Month AMUC Bulk Water Charge 163,728 162,000 174,000 Estimate of$14,500 per Month Total Expenditures $ 444,973 $ 444,000 $ 534,000 Excess/(Shortfall) $ 13,143 $ - $ - 4/25/2016 4.34 PM