Proposed Budget Fiscal Year 2011/2012 AVE MARIA STEWARDSHIP COMMUNITY DISTRICT Zak
c/o Special District Services, Inc.
i.v. lj, .; . 1. .. + 7
:. , , 2501 Burns Road, Suite A
PM 2� 53 Palm Beach Gardens, Florida 33410
201t NO 26 (561) 630-4922 Q
cLERtc of COURTS' Fax: (561) 630-4923 r
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\ 772e 174 X
May 20, 2011 cD °• "4p
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VIA CERTIFIED MAIL — cnC.o3
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 2011/2012 (Oct. 1, 2011 — Sept. 30,2012)
Should you have any questions or comments,please do not hesitate to contact our office.
Sincerely,
SPECIAL DISTRICT SERVICES, INC.
Laura J. Arche
Enclosure
Ave Maria Stewardship
Community District
Proposed Budget For
Fiscal Year 2011/2012
October 1, 2011 - September 30, 2012
CONTENTS
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 BAB PRINCIPAL DEBT SERVICE BUDGET
VII PROPOSED MAINTENANCE BUDGET
AMS Budget Contents 2011-2012 5/11/2011 3:59 PM
PROPOSED BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT
OPERATING FUND
FISCAL YEAR 2011/2012
October 1,2011-September 30,2012
FISCAL YEAR
2011/2012
REVENUES ANNUAL BUDGET
O&M ASSESSMENTS 365,588
DEBT ASSESSMENTS 760,863
DEVELOPER CONTRIBUTION FOR 0&M 1,294,786
DEVELOPER CONTRIBUTION FOR DEBT 2,263,968
OTHER REVENUES 0
TOTAL REVENUES $ 4,685,205
EXPENDITURES
ADMINISTRATIVE EXPENDITURES
SUPERVISORS FEES 8,000
ENGINEERING 20,000
MANAGEMENT 70,216
SECRETARIAL 4,500
LEGAL 20,000
ASSESSMENT ROLL 15,000
AUDIT FEES 8,600
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. 2,000
WEBSITE HOSTING FEES 1,000
TRUSTEE FEES 12,000
CONTINUING DISCLOSURE FEE 5,000
TOTAL ADMINISTRATIVE EXPENDITURES $ 187,566
MAINTENANCE EXPENDITURES
MAINTENANCE 1,445,389
MAINTENANCE/INSPECTIONS/ADMIN 0
TOTAL MAINTENANCE EXPENDITURES $ 1,445,389
TOTAL EXPENDITURES $ 1,632,955
EXCESS OR(SHORTFALL) $ 3,052,250
PAYMENT TO TRUSTEE $ (2,967,766)
BALANCE $ 84,484
COUNTY APPRAISER&TAX COLLECTOR ADMINISTRATIVE COSTS (39,426)
DISCOUNTS FOR EARLY PAYMENTS (45,058)
NET EXCESS/SHORTFALL $ (0)
Ave Marls Stewardship
AMS Budgets
AMS Budgets 2011-2012
AMS Proposed Budget 2011-2012 v2
AMS Opersung Fund Budget2011-2012 I 5/112011 3:59 PM
PROPOSED BUDGET
AVE MARIA STEWARDSHIP DEVELOPMENT DISTRICT
DEBT SERVICE FUND
FISCAL YEAR 2010/2011
October 1,2011 -September 30, 2012
FISCAL YEAR
2011/2012
REVENUES ANNUAL BUDGET
NAV Collection 703,798
Developer Contribution 2,263,968
Total Revenues $ 2,967,766
EXPENDITURES
Principal Payments (Bond) 440,000
Interest Payments (Bond) 1,269,206
Interest Payments (BAB) 1,258,560
Total Expenditures $ 2,967,766
Excess/Shortfall $ -
Capitalized Interest Carryover (Bond) 0
Capitalized Interest Carryover (BAB) 0
Net Excess/Shortfall $ -
Ave Marie
AMS Budgets
AMS Budgets 2011-2012
AMS Proposed Budget 2011-2012 v2
AMS Debt Service Budget 2011-2012 II 5/112011 3:59 PM
•
Ave Marta Stewardship District
Assessment Breakdown 2011-2012
Number of Units Operation& Total Operation& Total Debt Total Debt
Platted for Fiscal Year Maintenance Maintenance Debt Assessment Total Debt Number of Bond Assessment Assessment less
2010-2011 Per Assessment Assessment per Unit Assessment Prepayments Prepayments Prepayments
Residential
Tawnhorne/Condos 122 Unit $ 299.37 $ 38,523.14 $ 499.00 $ 80,878.00 $ - $ 80,878.00
Carriage/Attached Vila 94 Unit $ 299.37 $ 28,140.78 $ 499.00 $ 48,906.00 $ - $ 48,906.00
Detached Ville 48152' 488 Unit $ 299.37 $ 145,493.82 S 959.00 $ 488,074.00 3 $ (2,877.00) $ 483,197.00
Single Family 52155' 43 Unit $ 299.37 $ 12,872.91 $ 959.00 $ 41,237.00 $ - $ 41,237.00
Single Family 80185' 103 Unt J 299.37 $ 30,835.11 $ 959.00 $ 98,777.00 $ - $ 98,777 00
Single Family 70'/75' 52 Unit $ 299.37 $ 15,587.24 $ 959.00 $ 49,888.00 $ - $ 49,8138.00
Single Family 90' 0 Unt $ 299.37 $ $ 959.00 $ - $ - $ -
Other Uses Par
Law Affordable Housing 328 Unit $ 74.65 $ 24,335.90 $ - $ - $
ALF Apartments 0 Unt $ 17.77 $ - $ - $ - $ -
amivEnrstnveneswira 126,520 Sq.Ft. $ 0.29 $ 36,890.80 $ - $ - $ -
Professional Offices 51,529 Sq.Ft $ 0.24 $ 12,368.98 $ $ - $ -
Hotel 0 Room $ 311.13 $ - $ - $ - $ -
Medical Facilities 10,904 Sq.Ft. S 0.73 $ 7,959.92 $ - $ - $ -
ineut tww.l-AMUniv.raty 700 Student $ 15.82 $ 10,934.00 $ - $ - $ -
Private K-12 School 180 Student $ 24.17 $ 3,887.20 $ - $ - $ -
Total $365,587.78 S 783,740.00 3 $ (2,877.00) $760,863.00
Amounts per unit shown are grossed up for3.5%County Fees and 4%for early payment discount.
`Note:87 units included in Detached Mias 48'/52'are classl8ed Just es'Single Family'In Liberty Park.
The actual unit types roll be determined at a future date,but they wit be single randy so they wilt have the same assessment as the other stale family properties.
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PROPOSED BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT
OPERATING FUND
FISCAL YEAR 2011/2012
October 1,2011-September 30,2012
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2009/2010 2010/2011 2011/2012
REVENUES ACTUAL ANNUAL BUDGET ANNUAL BUDGET COMMENTS
O&M ASSESSMENTS 366,780 366,187 365,588 See Detail on Page 3
DEBT ASSESSMENTS 762,781 762,781 760,863 See Detail on Page 3
DEVELOPER CONTRIBUTION FOR 0&M 1,078,527 1,294,232 1,294,786
DEVELOPER CONTRIBUTION FOR DEBT 2,227,954 2,227,819 2,263,968
OTHER REVENUES 3,932 0 0
'TOTAL REVENUES $ 4,439,974 $ 4,651,019 $ 4,685,205
EXPENDITURES
I
ADMINISTRATIVE EXPENDITURES J
SUPERVISORS FEES 3,800 8,000 8,000 No Change From 2010-2011 Budget
ENGINEERING 30,119 20,000 20,000 No Change From 2010-2011 Budget
MANAGEMENT 55,000 70,216 70,216 No Change From 2010-2011 Budget
SECRETARIAL 2,000 4,500 4,500 No Change From 2010-2011 Budget
LEGAL 14,066 20,000_ 20,000 No Change From 2010-2011 Budget
ASSESSMENT ROLL 15,000 15,000 15,000 No Change From 2010-2011 Budget
AUDIT FEES 8,600 8,600 8,600 No Change From 2010-2011 Budget
ARBITRAGE REBATE FEE 1,575 2,500 2,500 No Change From 2010-2011 Budget
TRAVEL&LODGING 782 2,000 2,000 No Change From 2010-2011 Budget
INSURANCE 8,605 7,500 7,500 No Change From 2010-2011 Budget
LEGAL ADVERTISING 844 3,000 3,000 No Change From 2010-2011 Budget
MISCELLANEOUS 960 2,000 2,000 No Change From 2010-2011 Budget
POSTAGE 904 1,750 1,750 No Change From 2010-2011 Budget
OFFICE SUPPLIES 1,296 2,000 2,000 No Change From 2010-2011 Budget
DUES,UCENSE,s SUBSCRIPTIONS 175 500 500 No Change From 2010-2011 Budget
MISCELLANEOUS FILINGS,NOTICES,ETC. 500 2,000 2,000 No Change From 2010-2011 Budget
WEBSITE HOSTING FEES 150 1,000 1,000 No Chan a From 2010-2011 Budget
TRUSTEE FEES 11,314 12,000 12,000 No e From 2010-2011 Budget
CONTINUING DISCLOSURE FEE 5,000 5,000 5,000 No Change From 2010-2011 Budget
TOTAL ADMINISTRATIVE EXPENDITURES $ 160,889 $ 187,566 $ 187,566
MAINTENANCE EXPENDITURES
MAINTENANCE 1,186,474 1,445,389 1,445,389 Total Maintenance-See Detail On Page 6
MAINTENANCE/INSPECTIONS/ADMIN 0 0 0 No Change From 2010-2011 Budget
TOTAL MAINTENANCE EXPENDITURES $ 1,186,474 $ 1,445,389 $ 1,445,389
TOTAL EXPENDITURES $ 1,347,164 $ 1,632,955 $ 1,632,955
EXCESS OR(SHORTFALL) $ 3,092,810 $ 3,013,948 $ 3,052,250
PAYMENT TO TRUSTEE (2,965,816) $ (2,929,276) $ (2,967,766)2012 Principal&Interest Payments
BALANCE $ 126,994 $ 84,673 $ 84,484
COUNTY APPRAISER i TALI COLLECTOR ADMINISTRATIVE COSTS AND COLLECTIONS (29,255) (39,514) (39,426)Three And One Helf Percent Of Total Tex Roll(2%Prop Appreser,1.5%Ten Collector)
DISCOUNTS FOR EARLY PAYMENTS (22,176) (45,159) (45,058).Four Percent Of Total Tax Roll
NET EXCESS/SHORTFALL $ 75,563 $ 0.00 $ (0)
Ave Marla Stewordsh'p
AMS Budgets
AMS Budgets 2011-2012
AMS Proposed Budget 2011-2012 v2
AMS Operating Fund Budget 2011-2012 IV 5/112011 3'5B PM
PROPOSED BUDGET
AVE MARIA STEWARDSHIP DEVELOPMENT DISTRICT
DEBT SERVICE FUND
FISCAL YEAR 2011/2012
October 1,2011 -September 30,2012
FISCAL YEAR FISCAL YEAR
2010/2011 2011/2012
REVENUES ANNUAL BUDGET ANNUAL BUDGET
Interest Income(Bond) 40,000 0
Interest Income(BAB) 0 0
NAV Collection 705,572 703,798
Developer Contribution 2,227,819 2,263,968
Total Revenues S 2,973,391 $ 2,967,766
EXPENDITURES
Principal Payments(Bond) 420,000 440,000
Interest Payments(Bond) 1,294,831 1,269,206
Interest Payments(BAB) 1,258,560 1,258,560
Total Expenditures S 2,973,391 S 2,967,766
Excess/Shortfall S - $
MIS BWS.b
MIS Buda..2011-2012
MIS Popov.Buda.2011-2012 vT
AMS 6MB.ma Budget 2011-2012 V SI11IT011 350 FAA
PROPOSED BUDGET
AVE MARIA STEWARDSHIP DEVELOPMENT DISTRICT
BAB PRINCIPAL DEBT SERVICE FUND
FISCAL YEAR 2011/2012
October 1,2011 -September 30,2012
FISCAL YEAR
2011/2012
REVENUES ANNUAL BUDGET COMMENTS
Developer Financing 26,220,000
Total Revenues $ 26,220,000
EXPENDITURES
Principal Payments(BAB) 26,220,000 Principal Payment Due In 2012
Total Expenditures $ 26,220,000
Excess/Shortfall $ -
Ave Mane
AMS Budgets
AMS Budgets 2011-2012
AMS Proposed Budget 2011-2012 v2
AMS BAB Pnncpel Debt Service Budget 2011-2012 5l11/1011 3:59 PM
PROPOSED BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT
MAINTENANCE
FISCAL YEAR 2010/2011
October 1,2010-September 30,2011
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2009/2010 2010/2011 2011/2012
ACTUAL ANNUAL BUDGET ANNUAL BUDGET
MAINTENANCE EXPENDITURES
ELECTRIC(STREETLIGHTS,LANDSCAPE) 97,801 95,000 95,000
STREET SWEEPING 0 5,000 5,000
STRIPING&TRAFFIC MARKINGS 517 2,000 2,000
STREET LIGHT MAINTENANCE 24,816 30,000 30,000
SIDEWALK/CURB REPAIRS 3,576 3,000 3,000
LANDSCAPE MAINTENANCE(ROADWAY,ENTRIES):
MAINTENANCE CONTRACTS 491,095 530,000 530,000
TREE TRIMMING 8,271 15,000 15,000
STORM CLEANUP 0 75,000 70,000
PLANT REPLACEMENT 22,449 40,000 40,000
MULCH&MISCELLANEOUS 45,227 75,000 73,000
MISC.UTILITIES 0 5,000 5,000
ELECTRICITY 0 0 0
IRRIGATION WATER 77,868 100,000 100,000
IRRIGATION REPAIR 14,444 12,000 12,000
ENTRY FEATURE WATER 0 0 0
FOUNTAIN MAINTENANCE 30,315 15,000 15,000
RODENT/PEST CONTROL 1,982 1,000 6,000
EQUIPMENT REPAIR 463 1,000 1,000
SIGNAGE REPAIR 3,142 5,000 5,000
WATER MANAGEMENT&DRAINAGE 20,946 1,000 3,000
STORM DRAIN CLEANING 0 10,000 10,000
DRAINAGE/LAKE MAINTENANCE/LITTORALS 57,402 50,000 50,000
AERATORS 6,027 6,500 6,500
AQUATIC REPLACEMENTS 0 5,000 5,000
PRESERVE MAINTENANCE 45,469 40,000 40,000
TAXES&LICENSES 0 0 0
INSURANCE 0 0 0
SMALL TOOLS 922 1,000 1,000
MISCELLANEOUS MAINT. 0 0 0
MISC.REPAIRS 429 5,000 5,000
VEHICLE LEASE/FUEL/REPAIRS(MAINT TECH) 4,803 5,000 5,000
MOSQUITO CONTROL 47,321 80,000 80,000
FISH STOCKING 0 5,000 5,000
TEMP FIRE FACILITY OPERATING COSTS 41,851 36,000 38,000
ADMINISTRATIVE SUPPLIES 0 500 500
OFFICE LEASE 0 0 0
OFFICE UTILITIES 17 0 0
MAINTENANCE TECHNICIANS 81,769 60,000 60,000
BASE MANAGEMENT FEE 16,496 16,667 16,667
ADMIN PAYROLL 40.47 79.722 79.722
TOTAL MAINTENANCE EXPENDITURES $ 1,165,855 $ 1,410,389 $ 1,410,389
RESERVE FUND 20,620 20,000 20,000
CONTINGENCY FUND 0 15,000 15,000
TOTAL $ 1,186,474 $ 1,445,389 $ 1,445,389
Ave Maria Stewardship
AMS Budgets
AMS Budgets 2009-2010
AMS Proposed Budget 2011-2012 v2
AMS Maintenance Budget 2009.2010 vn 5/11/2011 3:59 PM