Proposed Budget Fiscal Year 2009/2010 AVE MARIA STEWARDSHIP COMMUNITY DISTRICT A Zoo
do Special District Services, Inc. M1�
2501 Burns Road, Suite A
Palm Beach Gardens, Florida 33410
(561) 630-4922
Fax: (561) 630-4923 <
c, w I;
May 20, 2009 ; o
c —
N ..�
VIA CERTIFIED MAIL—
RETURN RECEIPT REQUESTED
Clerk of Circuit Court
Dwight E. Brock
Collier County Courthouse
3301 E. Tamiami Trail, Building "L", 6th Floor
Naples, FL 34112
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 2009/2010 (Oct. 1, 2009—Sept. 30, 2010)
Should you have any questions or comments, please do not hesitate to contact our office.
Sincerely,
SPECIAL DISTRICT SERVICES, INC.
J
Laura J. Archer
Enclosure
MAY 2 9 ZUUJ
Ave Maria Stewardship
Community District
Proposed Budget For
Fiscal Year 20o9/2oio
October 1, 2oo9 - September 30, 2010
CONTENTS
I PROPOSED OPERATING FUND BUDGET
II PROPOSED DEBT SERVICE FUND BUDGET
III ASSESSMENT BREAKDOWN
IV DETAILED PROPOSED OPERATING FUND BUDGET
V DETAILED PROPOSED DEBT SERVICE FUND BUDGET
VI PROPOSED MAINTENANCE BUDGET
AMS Budget Contents 2009-2010 5/6/2009 1:47 PM
PROPOSED BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT
OPERATING FUND
FISCAL YEAR 2009/2010
October 1,2009-September 30,2010
FISCAL YEAR
2009/2010
REVENUES ANNUAL BUDGET
O&M ASSESSMENTS 380,874
DEBT ASSESSMENTS 762,781
DEVELOPER CONTRIBUTION FOR 0& M 1,789,764
DEVELOPER CONTRIBUTION FOR DEBT 2,223,703
OTHER REVENUES 0
TOTAL REVENUES $ 5,157,122
EXPENDITURES
ADMINISTRATIVE EXPENDITURES
SUPERVISORS FEES 12,000
ENGINEERING 30,000
MANAGEMENT 70,216
SECRETARIAL 4,500
LEGAL 55,000
ASSESSMENT ROLL 15,000
AUDIT FEES 8,000
ARBITRAGE REBATE FEE 2,500
TRAVEL& LODGING 2,000
INSURANCE 7,500
LEGAL ADVERTISING 3,000
MISCELLANEOUS 2,000
POSTAGE 1,750
OFFICE SUPPLIES 2,000
DUES, LICENSE, &SUBSCRIPTIONS 500
MISCELLANEOUS FILINGS, NOTICES, ETC. 1,939
WEBSITE HOSTING FEES 1,000
TRUSTEE FEES 12,000
CONTINUING DISCLOSURE FEE 5,000
TOTAL ADMINISTRATIVE EXPENDITURES $ 235,905
MAINTENANCE EXPENDITURES
MAINTENANCE 1,891,167
MAINTENANCE/INSPECTIONS/ADMIN 15,000
TOTAL MAINTENANCE EXPENDITURES $ 1,906,167
TOTAL EXPENDITURES $ 2,142,072
EXCESS OR(SHORTFALL) $ 3,015,050
PAYMENT TO TRUSTEE $ (2,929,276)
BALANCE $ 85,774
COUNTY APPRAISER&TAX COLLECTOR FEE (40,028)
DISCOUNTS FOR EARLY PAYMENTS (45,746)
NET EXCESS/SHORTFALL $ -
Ave Maria Stewardship
AMS Budgets Note:The per unit assessments are charged per the Ave Maria Stewardship District Master Assessment Methodology Reports
AMS Budgets 2009-2010
AMS Proposed Budget 2009-2010
5/6/2009 1:47 PM
AMS Operating Fund Budget 2009-2010 I
PROPOSED BUDGET
AVE MARIA STEWARDSHIP DEVELOPMENT DISTRICT
DEBT SERVICE FUND
FISCAL YEAR 2009/2010
October 1,2009-September 30,2010
FISCAL YEAR
2009/2010
REVENUES ANNUAL BUDGET
Interest Income (Bond) 20,000
Interest Income (BAB) 20,000
NAV Collection 705,572
Developer Contribution 2,223,703
Total Revenues $ 2,969,276
EXPENDITURES
Principal Payments (Bond) 395,000
Principal Payments (BAB) 0
Interest Payments (Bond) 1,315,716
Interest Payments (BAB) 1,258,560
Total Expenditures $ 2,969,276
Excess/Shortfall $ _
Capitalized Interest Carryover (Bond) 0
Capitalized Interest Carryover (BAB) 0
Net Excess/Shortfall $
Ave Maria
AMS Budgets
AMS Budgets 2009-2010
AMS Proposed Budget 2009-2010
5/6/2009 1:47 PM AMS Debt Service Budget 2009-2010 ��
Ave Maria Stewardship District
Assessment Breakdown 2009-2010
Number of Units Operation& Total Operation& Total Debt Total Debt
Platted for Fiscal Year Maintaince Maintaince Debt Assessment Total Debt Number of Bond Assessment Assessment less
2009-2010 Per Assessment Assessment per Unit Assessment Prepayments Prepayments Prepayments
Residential
Townhome/Condos 122 Unit $ 328.47 $ 40,073.34 $ 499.00 $ 60,878.00 $ - $ 60,878.00
Carriage/Attached Villa 94 Unit $ 328.47 $ 30,876.18 $ 499.00 $ 46,906.00 $ - $ 46,906.00
Detached Villa 46752' 488 Unit $ 328.47 $ 160,293.36 $ 959.00 $ 467,992.00 3 $ (2,877.00) $ 465,115.00
Single Family 52'/55' 43 Unit $ 328.47 $ 14,124.21 $ 959.00 $ 41,237.00 $ - $ 41,237.00
Single Family 60'/65' 103 Unit $ 328.47 $ 33,832.41 $ 959.00 $ 98,777.00 $ - $ 98,777.00
Single Family 70'/75' 52 Unit $ 328.47 $ 17,080.44 $ 959.00 $ 49,868.00 $ - $ 49,868.00
Single Family 90' 0 Unit $ 328.47 $ - $ 959.00 $ - $ - $ -
Other Uses Per
Low Affordable Housing 326 Unit $ 81.90 $ 26,699.40 $ - $ - $ -
ALF Apartments 0 Unit $ 19.50 $ - $ - $ - $ -
RetaiUEntertainmenUService 80,909 Sq.Ft. $ 0.36 $ 29,127.24 $ - $ - $ -
Professional Offices 51,529 Sq.Ft. $ 0.35 $ 18,035.15 $ - $ - $ -
Hotel 0 Room $ 156.25 $ - $ - $ - $ -
Medical Facilities 0 Sq.Ft. $ 0.80 $ - $ - $ - $ -
Institutional-AM University 425 Student $ 17.14 $ 7,284.50 $ - $ - $ -
Private K-12 School 130 Student $ 26.52 $ 3,447.60 $ - $ - $ _
Total $380,873.83 $765,658.00 3 $ (2,877.00) $762,781.00
Amounts per unit shown are per the methodology and grossed up for 3.5%County Fees and 4%for early payment discount.
'Note:67 units included in Detached Villas 46'/52'are classified just as"Single Family'in Liberty Park.
The actual unit types will be dertmined at a future date,but they will be single family so they will have the same assessment as the other single family properties.
Ave Maria
AMs B&Opets
Ar,S Bup,ets 2009-2010
AMs Propose.B4Ope1200e-2010 III 5/fi12009 t al PM
AMB Assessment Brealulam 2009.2010
PROPOSED BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT
OPERATING FUND
FISCAL YEAR 2009/2010
October 1,2009-September 30,2010
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2007/2008 2008/2009 2009/2010
REVENUES ACTUAL Proposed BUDGET ANNUAL BUDGET COMMENTS
O&M ASSESSMENTS 25,951 345,494 380,874 See Detail on Page 3-Per Methodology
DEBT ASSESSMENTS 0 765,658 762,781 See Detail on Page 3-Per Methodology
DEVELOPER CONTRIBUTION FOR 0&M 1,672,505 1,822,490 1,789,764
DEVELOPER CONTRIBUTION FOR DEBT 0 921,856 2,223,703
OTHER REVENUES 5,369 0 0
TOTAL REVENUES $ 1,703,825 $ 3,855,498 $ 5,157,122
EXPENDITURES
ADMINISTRATIVE EXPENDITURES
SUPERVISORS FEES 7,400 12,000 12,000 No Change From 2008-2009 Budget
ENGINEERING 54,057 30,000 30,000 No Change From 2008-2009 Budget
MANAGEMENT 61,867 70,216 70,216 No Change From 2008-2009 Budget
SECRETARIAL 4,500 4,500 4,500 No Change From 2008-2009 Budget
LEGAL 55,916 55,000 55,000 No Change From 2008-2009 Budget
APPRAISAL FEE 0 0 0
ASSESSMENT ROLL 15,000 15,000 15,000 No Change From 2008-2009 Budget
METHODOLOGY REPORT 7,735 0 0
AUDIT FEES 8,000 8,000 8,000 No Change From 2008-2009 Budget
ARBITRAGE REBATE FEE 1,575 2,500 2,500 No Change From 2008-2009 Budget
TRAVEL&LODGING 1,412 2,000 2,000 No Change From 2008-2009 Budget
INSURANCE 15,626 7,500 7,500 No Change From 2008-2009 Budget
LEGAL ADVERTISING 1,689 3,000 3,000 No Change From 2008-2009 Budget
BANK SERVICE CHARGES 25 0 0
MISCELLANEOUS 1,683 2,000 2,000 No Change From 2008-2009 Budget
POSTAGE 2,217 1,750 1,750 No Change From 2008-2009 Budget
OFFICE SUPPLIES 2,364 2,000 2,000 No Change From 2008-2009 Budget
DUES,LICENSE,&SUBSCRIPTIONS 175 500 500 No Change From 2008-2009 Budget
MISCELLANEOUS FILINGS,NOTICES,ETC. 0 1,939 1,939 No Change From 2008-2009 Budget
MARKETING 525 0 0 No Change From 2008-2009 Budget
WEBSITE HOSTING FEES 330 1,000 1,000 No Change From 2008-2009 Budget
TRUSTEE FEES 10,500 12,000 12,000 No Change From 2008-2009 Budget
CONTINUING DISCLOSURE FEE 5,000 5,000 5,000 No Change From 2008-2009 Budget
TOTAL ADMINISTRATIVE EXPENDITURES $ 257,596 $ 235,905 $ 235,905
MAINTENANCE EXPENDITURES
MAINTENANCE 1,423,063 1,891,167 1,891,167 Total Maintenance-See Detail On Page 6
MAINTENANCE/INSPECTIONS/ADMIN 0 15,000 15,000 No Change From 2008-2009 Budget
TOTAL MAINTENANCE EXPENDITURES $ 1,423,063 $ 1,906,167 $ 1,906,167
TOTAL EXPENDITURES $ 1,680,659 $ 2,142,072 $ 2,142,072
EXCESS OR(SHORTFALL) $ 23,166 $ 1,713,426 $ 3,015,050
PAYMENT TO TRUSTEE 0 $ (1,630,090) $ (2,929,276)2010 Principal&Interest Payments Less All DS Interest Earned
BALANCE $ 23,166 $ 83,336 $ 85,774
COUNTY APPRAISER&TAX COLLECTOR FEE (8,467) (38,890) (40,028)Three And One Half Percent Of Total Tax Roll(2%Prop Appraiser,l.5%Tax Collector)
DISCOUNTS FOR EARLY PAYMENTS (5,458) (44,446) (45,746) Four Percent Of Total Tax Roll
NET EXCESS/SHORTFALL $ 9,241 $ - $ -
Ave Maria Stewardship •Note:The per unit assessments are charged per the Ave Maria Stewardship District Master Assessment Methodology Reports
AMS Budgets
AMS Budgets 2009-2010
AMS Proposed Budget 2009-2010
IV 5/6/2009 1:47 PM
AMS Operating Fund Budget 2009-2010
PROPOSED BUDGET
AVE MARIA STEWARDSHIP DEVELOPMENT DISTRICT
DEBT SERVICE FUND
FISCAL YEAR 2009/2010
October 1,2009-September 30,2010
FISCAL YEAR FISCAL YEAR
2008/2009 2009/2010
REVENUES ANNUAL BUDGET ANNUAL BUDGET COMMENTS
Interest Income(Bond) 60,000 20,000 Projected Interest For FY 2009/2010
Interest Income(BAB) 25,000 20,000 Projected Interest For FY 2009/2010
NAV Collection 716,757 705,572 Per Assessment Breakdown(page 3)less 7.5%for Discounts and Fees
Developer Contribution 913,333 2,223,703
Total Revenues $ 1,715,090 $ 2,969,276
EXPENDITURES
Principal Payments(Bond) 375,000 395,000 Principal Payment Due In 2010
Principal Payments(BAB) 0 0 No Principal Payment Due In 2010
Interest Payments(Bond) 1,340,090 1,315,716 Interest Payments Due In 2010
Interest Payments(BAB) 1,253,917 1,258,560 Interest Payments Due In 2010
Total Expenditures $ 2,969,007 $ 2,969,276
Excess/Shortfall $ (1,253,917) $ -
Capitalized Interest Carryover(Bond) 0 0 The Capitalized Interest Period Has Ended
Capitalized Interest Carryover(BAB) 1,253,917 0 The Capitalized Interest Period Has Ended
Net Excess/Shortfall $ - $ -
Ave Mu/ia
AMS Budgets
AMS BOWS 2009-2010
AMS Proposed Budget 2009-2010
AMS Debt Service Budget 2009-2010 v 5/6/2009 1 47 PM
PROPOSED BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT
MAINTENANCE
FISCAL YEAR 2009/2010
October 1,2009-September 30,2010
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2007/2008 2008/2009 2009/2010
ACTUAL ANNUAL BUDGET ANNUAL BUDGET
MAINTENANCE EXPENDITURES
ELECTRIC(STREETLIGHTS,LANDSCAPE) 4,594 161,000 161,000
STREET SWEEPING 2,192 12,000 12,000
STRIPING&TRAFFIC MARKINGS 46 0 0
STREET LIGHT MAINTENANCE 16,042 50,000 50,000
SIDEWALK/CURB REPAIRS 1,925 0 0
LANDSCAPE MAINTENANCE(ROADWAY,ENTRIES):
MAINTENANCE CONTRACTS 642,371 708,000 708,000
TREE TRIMMING 0 15,000 15,000
STORM CLEANUP 51,359 0 0
PLANT REPLACEMENT 31,949 60,000 60,000
MULCH 0 66,000 66,000
MISCELLANEOUS 125,976 0 0
MISC.UTILITIES 96 0 0
ELECTRICITY 86,934 0 0
IRRIGATION WATER 53,873 130,000 130,000
IRRIGATION REPAIR 7,587 5,000 5,000
ENTRY FEATURE WATER 337 0 0
FOUNTAIN MAINTENANCE 32,053 55,000 55,000
RODENT CONTROL 217 10,000 10,000
EQUIPMENT REPAIR 403 15,000 15,000
SIGNAGE REPAIR 261 20,000 20,000
WATER MANAGEMENT&DRAIN 3,616 4,000, 4,000
STORM DRAIN CLEANING 0 10,000 10,000
DRAINAGE/LAKE MAINTENANCE/LITTORALS 90,839 96,000 96,000
AERATORS 2,696 11,000 11,000
AQUATIC REPLACEMENTS 0 15,000 15,000
PRESERVE MAINTENANCE 1,033 80,000 80,000
TAXES&LICENSES 0 1,000 1,000
INSURANCE 0 0 0
SMALL TOOLS 875 2,000 2,000
MISCELLANEOUS MAINT. 1,693 0 0
MISC.REPAIRS 0 4,000 4,000
VEHICLE LEASE/FUEL/REPAIRS(MAINT TECH) 1,568 20,000 20,000
MOSQUITO CONTROL 112,793 130,000 130,000
FISH STOCKING 0 5,500 5,500
TEMP FIRE FACILITY OPERATING COSTS 30,376 36,000 36,000
ADMINISTRATIVE SUPPLIES 0 10,000 10,000
OFFICE LEASE 2,587 18,000 18,000
OFFICE UTILITIES 0 5,000 5,000
MAINTENANCE TECHNICIANS 23,162 72,000 72,000
BASE MANAGEMENT FEE 13,888 16,667 16,667
ADMIN PAYROLL 79,722 48 000 48 000
TOTAL MAINTENANCE EXPENDITURES $ 1,423,063 $ 1,891,167 $ 1,891,167
RESERVE FUND 0 0 0
CONTINGENCY FUND 0 0 0
TOTAL $ 1,423,063 $ 1,891,167 $ 1,891,167
Ave Maria Stewardship
AMS Budgets
AMS Budgets 2009-2010
AMS Proposed Budget 2009-2010
AMS Maintenance Budget 2009-2010 VI 5/6/2009 1:47 PM
PROPOSED BUDGET
AVE MARIA STEWARDSHIP DEVELOPMENT DISTRICT
AVE MARIA UTILITY
FISCAL YEAR 2009/2010
October 1,2009-September 30,2010
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2007/2008 2008/2009 2009/2010
REVENUES ACTUAL ANNUAL BUDGET ANNUAL BUDGET COMMENTS
AMCU Income 249,324 180,000 180,000 1/2 Expenditures
Developer Contribution 166,189 180,000 180,000 1/2 Expenditures
Total Revenues $ 415,513 $ 360,000 $ 360,000
EXPENDITURES
OMI Operating Fee 296,993 240,000 240,000 Estimate of$20,000 per Month
AMUC Bulk Water Charge 118,520 120,000 120,000 Estimate of$10,000 per Month
Total Expenditures $ 415,513 $ 360,000 $ 360,000
Excess/Shortfall $ - $ - $ -
Ave Mena
AMS Budgets
AMS Budgets 2009-2010
AMS May Peel Budget 2009-2010
VII S'fy2009 1:4]PM
AMS Utllity Budget 2009-2010