FY22/23 Proposed Budget ^r 14:77•i rcr[1 0#V'&MISRIA 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
June 9, 2022
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 2022/2023 (Oct. 1, 2022 — Sept. 30, 2023)
Should you have any questions or comments, please do not hesitate to contact our office.
Sincerely,
SPECIAL DISTRICT SERVICES, INC.
Laura J. Archer
Enclosure
Ave Maria Stewardship
Community District
Proposed Budget For
Fiscal Year 2022/2023
October 1, 2022 - September 30, 2o23
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT
FISCAL YEAR 2021/2022 BUDGET
TABLE OF CONTENTS
Budget Summary
Final Budget 3
Detailed Proposed Budget 4
Budget Comparison To Previous Year 5
Debt Service
Detailed Final Series 2019(refi of 2006)Debt Service Fund Budget 6
Detailed Final Series 2022 (refi of 2012)Debt Service Fund Budget 7
Detailed Final Series 2021 Debt Service Fund Budget 8
Detailed Final Series 2021 BANS Debt Service Fund Budget 9
Detailed Final Series 2015(Maple Ridge) Debt Service Fund Budget 10
Detailed Final Series 2016 (Maple Ridge) Debt Service Fund Budget 11
Detailed Final Series 2018(Maple Ridge) Debt Service Fund Budget 12
Detailed Final Series 2020 (Maple Ridge) Debt Service Fund Budget 13
Detailed Final Series 2022 (Maple Ridge)Debt Service Fund Budget 14
Detailed Final Series 2021 (Ave Maria National) Debt Service Fund Budget 15
Maintenance &Assessments Breakdown
Detailed Final Maintenance Budget 16
Assessment Breakdown 17
Assessment Comparison 18
PROPOSED BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT
FISCAL YEAR 2022/2023
OCTOBER 1,2022 -SEPTEMBER 30, 2023
Sources Revenue Percentage
Assessments $ 5,869,636 58%
Developer Contributions $ 4,219,834 42%
Other $ _ 0%
Total Revenue $ 10,089,470 100%
42% w Assessments
58%
•Developer Contributions
Sources Expenditures Percentage
Administrative $ 369,962 4%
Maintenance $ 3,154,500 31%
Debt Payments $ 6,124,786 61
Discounts & Fees $ 440,222 4%
Total Expenditures $ 10,089,470 100%
.. kc
4%
•Administrative
31%
•Maintenance
ra Debt Payments
Discounts & Fees
Page 3
DETAILED PROPOSED BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT
FISCAL YEAR 2022/2023
OCTOBER 1, 2022 -SEPTEMBER 30, 2023
FISCAL YEAR
2022/2023
REVENUES BUDGET
O& M ASSESSMENTS 1,903,630
DEBT ASSESSMENTS 3,966,006
DEVELOPER CONTRIBUTION FOR 0&M 1,763,604
DEVELOPER CONTRIBUTION FOR DEBT 2,456,230
OTHER REVENUES 0
INTEREST 0
TOTAL REVENUES $ 10,089,470
EXPENDITURES
ADMINISTRATIVE EXPENDITURES
SUPERVISORS FEES 8,000
PAYROLL TAX EXPENSE 612
ENGINEERING 55,000
MANAGEMENT 84,000
SECRETARIAL 0
LEGAL 75,000
ASSESSMENT ROLL 15,000
AUDIT FEES 18,100
ARBITRAGE REBATE FEE 3,250
TRAVEL& LODGING 4,000
INSURANCE 37,000
LEGAL ADVERTISING 8,000
MISCELLANEOUS 6,000
POSTAGE 2,000
OFFICE SUPPLIES 3,500
DUES, LICENSE, & SUBSCRIPTIONS 500
MISCELLANEOUS FILINGS, NOTICES, ETC. 500
WEBSITE HOSTING FEES 2,500
TRUSTEE FEES 35,000
CONTINUING DISCLOSURE FEE 12,000
TOTAL ADMINISTRATIVE EXPENDITURES $ 369,962
MAINTENANCE EXPENDITURES
MAINTENANCE 3,154,500
TOTAL MAINTENANCE EXPENDITURES $ 3,154,500
TOTAL EXPENDITURES $ 3,524,462
EXCESS OR(SHORTFALL) $ 6,565,008
BOND PAYMENTS $ (6,124,786)
BALANCE $ 440,222
COUNTY APPRAISER&TAX COLLECTOR COST (205,437)
DISCOUNTS FOR EARLY PAYMENTS (234,785)
NET EXCESS/(SHORTFALL) $ -
Note: Reserve Fund Balance As Of 3-31-22 is$263,170.12
Page 4
DETAILED PROPOSED BUDGET COMPARISON
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT
FISCAL YEAR 2022/2023
OCTOBER 1, 2022-SEPTEMBER 30, 2023
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2020/2021 2021/2022 2022/2023
REVENUES ACTUAL BUDGET BUDGET COMMENTS
O&M ASSESSMENTS 1,265,359 1,556,178 1,903,630 See Detail on Page 9
DEBT ASSESSMENTS 3,825,900 4,461,050 3,966,006 See Detail on Page 9
DEVELOPER CONTRIBUTION FOR 0&M 1,719,171 1,220,233 1,763,604
DEVELOPER CONTRIBUTION FOR DEBT 948,584 296,442 2,456,230
OTHER REVENUES/FEMA 1,813 0 0
INTEREST 515 0 0
BOND PREPAYMENTS 328,711 0 0
BOND PREPAYMENTS PAID TO TRUSTEE (328,711) 0 0
TOTAL REVENUES $ 7,761,341 $ 7,533,903 $ 10,089,470
EXPENDITURES
ADMINISTRATIVE EXPENDITURES
SUPERVISORS FEES 8,000 8,000 8,000 No Change From Previous Budget
PAYROLL TAX EXPENSE 612 612 612 Supervisor Fees*7.65%
ENGINEERING 49,916 55,000 55,000 No Change From Previous Budget
MANAGEMENT 70,216 70,216 84,000 $13,784 Increase From Previous Budget
SECRETARIAL 4,500 4,500 0 $4,500 Decrease From Previous Budget
LEGAL 70,175 70,000 75,000 $5,000 Increase From Previous Budget
ASSESSMENT ROLL 15,000 15,000 15,000 No Change From Previous Budget
AUDIT FEES 13,400 13,000 18,100 $5,100 Increase From Previous Budget
ARBITRAGE REBATE FEE 2,600 3,250 3,250 No Change From Previous Budget
TRAVEL&LODGING 3,174 4,000 4,000 No Change From Previous Budget
INSURANCE 10,417 11,870 37,000 $25,130 Increase From Previous Budget
LEGAL ADVERTISING 8,929 5,000 8,000 $3,000 Increase From Previous Budget
MISCELLANEOUS 6,271 4,000 6,000 $2,000 Increase From Previous Budget
POSTAGE 1,887 1,750 2,000 $250 Increase From Previous Budget
OFFICE SUPPLIES 2,181 3,500 3,500 No Change From Previous Budget
DUES, LICENSE,&SUBSCRIPTIONS 175 500 500 No Change From Previous Budget
MISCELLANEOUS FILINGS, NOTICES, ETC. 0 500 500 No Change From Previous Budget
WEBSITE HOSTING FEES 2,500 2,500 2,500 No Change From Previous Budget
TRUSTEE FEES 30,107 27,000 35,000 $8,000 Increase From Previous Budget
CONTINUING DISCLOSURE FEE 9,500 9,000 12,000 $3,000 Increase From Previous Budget
TOTAL ADMINISTRATIVE EXPENDITURES $ 309,561 $ 309,198 $ 369,962
MAINTENANCE EXPENDITURES
MAINTENANCE 2,632,913 2,350,500 3,154,500 Total Maintenance-See Detail On Page 16
TOTAL MAINTENANCE EXPENDITURES $ 2,632,913 $ 2,350,500 $ 3,154,500
TOTAL EXPENDITURES $ 2,942,474 $ 2,659,698 $ 3,524,462
EXCESS OR(SHORTFALL) $ 4,818,867 $ 4,874,205 $ 6,565,008
BOND PAYMENTS (4,552,989) $ (4,422,913) $ (6,124,786) 2023 P&I Payments
BALANCE $ 265,878 $ 451,292 $ 440,222
COUNTY APPRAISER&TAX COLLECTOR COST (87,046) (210,603) (205,437) 3.5%Of Total Roll(2%Appraiser, 1.5%Collector)
DISCOUNTS FOR EARLY PAYMENTS (196,876) (240,689) (234,785) 4%Of Total Tax Roll
NET EXCESS/(SHORTFALL) $ (18,043) $ - $ -
Note: Reserve Fund Balance As Of 3-31-22 is$263,170.12 Page 5
•
DETAILED PROPOSED DEBT SERVICE BUDGET
AVE MARIA STEWARDSHIP DEVELOPMENT DISTRICT
DEBT SERVICE FUND-SERIES 2019
FISCAL YEAR 2022/2023
OCTOBER 1,2022-SEPTEMBER 30,2023
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2020/2021 2021/2022 2022/2023
REVENUES ACTUAL BUDGET BUDGET
Interest Income(19)(refi of 06) 51 500 500
Net NAV Collection(19)(refi of 06) 1,393,758 1,368,371 1,368,371
Developer Contribution(refi of 06) 0 0 0
Prepaid Bonds(19)(refi of 06) 9,723 0 0
Bond Proceeds 0 0 0
Total Revenues $ 1,403,533 $ 1,368,871 $ 1,368,871
EXPENDITURES
Principal Payments(19)(refi of 06) 885,000 900,000 920,000
Extraordinary Principal Pymt(19)(refi of 06) 0 2,277 477
Interest Payments(19)(refi of 06) 493,294 466,594 448,394
Cost of Issuance 0
Total Expenditures $ 1,378,294 $ 1,368,871 $ 1,368,871
Net Excess/(Shortfall) $ 25,239 $ - $ -
Series 2019 Bond Information(Refi of 2006)
Original Par Amount= $20,310,000 Annual Principal Payments Due:
Average Interest Rate= 2.725% May 1st
Issue Date= June 2019 Annual Interest Payments Due:
Maturity Date= May 2038 May 1st&November 1st
Par Amount As Of 1/1/22= $18,540,000
Page 6
DETAILED PROPOSED DEBT SERVICE BUDGET
AVE MARIA STEWARDSHIP DEVELOPMENT DISTRICT
DEBT SERVICE FUND-SERIES 2022
FISCAL YEAR 2022/2023
OCTOBER 1,2022-SEPTEMBER 30,2023
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2020/2021 2021/2022 2022/2023
REVENUES ACTUAL BUDGET BUDGET
Interest Income(22)(refi of 12) 178 100 100
Net NAV Collection(22)(refi of 12) 1,554,388 134,908 1,360,757
Developer Contribution(22)(refi of 12) 690,442 483,597 278,318
Prepaid Bonds(22)(refi of 12) 13,290 0 0
Total Revenues $ 2,258,298 $ 618,605 $ 1,639,175
EXPENDITURES
Principal Payments(22)(refi of 12) 535,000 0 820,000
Extraordinary Principal Pymt(22)(refi of 12) 10,000 0 0
Interest Payments(22)(refi of 12) 1,728,265 618,605 819,175
Total Expenditures $ 2,273,265 $ 618,605 $ 1,639,175
Net Excess/(Shortfall) _ $ (14,967) $ - $ -
Series 2022 Bond Information(Refi of 2012)
Original Par Amount= $22,950,000 Annual Principal Payments Due:
Average Interest Rate= 3.825% May 1st
Issue Date= February 2022 Annual Interest Payments Due:
Maturity Date= May 2042 May 1st&November 1st
Par Amount As Of 1/1/22= N/A
Page 7
DETAILED PROPOSED DEBT SERVICE BUDGET
AVE MARIA STEWARDSHIP DEVELOPMENT DISTRICT
DEBT SERVICE FUND-SERIES 2021
FISCAL YEAR 2022/2023
OCTOBER 1,2022-SEPTEMBER 30,2023
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2020/2021 2021/2022 2022/2023
REVENUES ACTUAL BUDGET BUDGET
Interest Income(21) 1 100 100
Net NAV Collection(21) 0 0 0
Developer Contribution(21) 0 0 635,606
Capitalized Interest(21) 0 398,406 0
Total Revenues $ 1 $ 398,506 $ 635,706
EXPENDITURES
Principal Payments(21) 0 0 240,000
Extraordinary Principal Payments(21) 0 0 0
Interest Payments(21) 0 398,406 395,706
Total Expenditures $ - $ 398,406 $ 635,706
Net Excess/(Shortfall) $ 1 $ 100 $ -
Note:Capitalized Interest Was Set-Up Through November 1,2022
Series 2021 Bond Information
Original Par Amount= $11,610,000 Annual Principal Payments Due:
Average Interest Rate= 3.691% May 1st
Issue Date= August 2021 Annual Interest Payments Due:
Maturity Date= May 2052 May 1st&November 1st
Par Amount As Of 1/1/22= $11,610,000
Page 8
DETAILED PROPOSED DEBT SERVICE BUDGET
AVE MARIA STEWARDSHIP DEVELOPMENT DISTRICT
DEBT SERVICE FUND-SERIES 2021 (BOND ANTICIPATION NOTES)
FISCAL YEAR 2022/2023
OCTOBER 1, 2022-SEPTEMBER 30,2023
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2020/2021 2021/2022 2022/2023
REVENUES ACTUAL BUDGET BUDGET
Interest Income(21 BANS) 2 0 0
Net NAV Collection(21 BANS) 0 0 0
Developer Contribution(21 BANS) 0 547,400 547,400
Prepaid Bonds(21 BANS) 0 0 0
Total Revenues $ 2 $ 547,400 $ 547,400
EXPENDITURES
Principal Payments(21 BANS) 0 0 0
Extraordinary Principal Payments(21 BANS) 0 0 0
Interest Payments(21 BANS) 0 547,400 547,400
Total Expenditures $ - $ 547,400 $ 547,400
Net Excess/(Shortfall) $ 2 $ - $ -
Series 2021 BAN Information
Original Par Amount= $15,640,000 Annual Principal Payments Due:
Interest Rate= 3.500% N/A
Issue Date= August 2021 Annual Interest Payments Due:
Maturity Date= May 2026 May 1st&November 1st
Par Amount As Of 1/1/22= $15,640,000
Page 9
• DETAILED PROPOSED DEBT SERVICE BUDGET
AVE MARIA STEWARDSHIP DEVELOPMENT DISTRICT
DEBT SERVICE FUND-SERIES 2015(MAPLE RIDGE)
FISCAL YEAR 2022/2023
OCTOBER 1,2022-SEPTEMBER 30, 2023
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2020/2021 2021/2022 2022/2023
REVENUES ACTUAL BUDGET BUDGET
Interest Income(15) 19 100 100
Net NAV Collection(15) 166,913 163,890 163,890
Developer Contribution(15) 0 5,267 0
Prepaid Bonds(15) 79,779 0 0
Total Revenues $ 246,712 $ 169,256 $ 163,990
EXPENDITURES
Principal Payments(15) 45,000 50,000 50,000
Extraordinary Principal Payments(15) 75,000 0 1,171
Interest Payments(15) 122,756 119,256 112,819
Total Expenditures $ 242,756 $ 169,256 $ 163,990
Net Excess/(Shortfall) $ 3,955 $ - $ -
Series 2015 Bond(Maple Ridge)Information
Original Par Amount= $2,530,000 Annual Principal Payments Due:
Interest Rate= 5.0%-5.375% May 1st
Issue Date= February 2015 Annual Interest Payments Due:
Maturity Date= May 2045 May 1st&November 1st
Par Amount As Of 1/1/22= $2,205,000
Page 10
DETAILED PROPOSED DEBT SERVICE BUDGET
AVE MARIA STEWARDSHIP DEVELOPMENT DISTRICT
DEBT SERVICE FUND-SERIES 2016(MAPLE RIDGE)
FISCAL YEAR 2022/2023
OCTOBER 1, 2022-SEPTEMBER 30,2023
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2020/2021 2021/2022 2022/2023
REVENUES ACTUAL BUDGET BUDGET
Interest Income(16) 16 100 100
Net NAV Collection(16) 230,856 226,663 226,663
Developer Contribution(16) 0 0 0
Prepaid Bonds(16) 0 0 0
Total Revenues $ 230,871 $ 226,763 $ 226,763
EXPENDITURES
Principal Payments(16) 55,000 60,000 60,000
Extraordinary Principal Payments(16) 0 1,388 4,538
Interest Payments(16) 169,838 165,375 162,225
Total Expenditures $ 224,838 $ 226,763 $ 226,763
Net Excess/(Shortfall) $ 6,034 $ - $ -
Note:Capitalized Interest Was Set-Up Through November 1,2017
Series 2016 Bond(Maple Ridge)Information
Original Par Amount= $3,390,000 Annual Principal Payments Due:
Interest Rate= 5.250% May 1st
Issue Date= October 2016 Annual Interest Payments Due:
Maturity Date= May 2047 May 1st&November 1st
Par Amount As Of 1/1/22= $3,180,000
Page 11
DETAILED PROPOSED DEBT SERVICE BUDGET
AVE MARIA STEWARDSHIP DEVELOPMENT DISTRICT
DEBT SERVICE FUND-SERIES 2018(MAPLE RIDGE)
FISCAL YEAR 2022/2023
OCTOBER 1,2022-SEPTEMBER 30,2023
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2020/2021 2021/2022 2022/2023
REVENUES ACTUAL BUDGET BUDGET
Interest Income(18) 17 100 100
Net NAV Collection(18) 258,489 211,765 253,748
Developer Contribution(18) 0 56,315 0
Prepaid Bonds(18) 225,918 0 0
Total Revenues $ 484,423 $ 268,180 $ 253,848
EXPENDITURES
Principal Payments(18) 60,000 65,000 65,000
Extraordinary Principal Payments(18) 225,000 0 490
Interest Payments(18) 207,713 203,180 188,358
Total Expenditures $ 492,713 $ 268,180 $ 253,848
Net Excess/(Shortfall) $ (8,289) $ - $ -
Note:Capitalized Interest Was Set-Up Through May 1,2019
Series 2018 Bond(Maple Ridge)Information
Original Par Amount= $4,000,000 Annual Principal Payments Due:
Interest Rate= 4.9%-5.375% May 1st
Issue Date= June 2018 Annual Interest Payments Due:
Maturity Date= May 2049 May 1st&November 1st
Par Amount As Of 1/1/22= $3,655,000
Page 12
DETAILED PROPOSED DEBT SERVICE BUDGET
AVE MARIA STEWARDSHIP DEVELOPMENT DISTRICT
DEBT SERVICE FUND-SERIES 2020(MAPLE RIDGE)
FISCAL YEAR 2022/2023
OCTOBER 1,2022-SEPTEMBER 30,2023
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2020/2021 2021/2022 2022/2023
REVENUES ACTUAL BUDGET BUDGET
Interest Income(20) 18 0 100
Net NAV Collection(20) 0 0 207,616
Developer Contribution(20) 0 0 0
Capitalized Interest 116,258 146,853 0
Total Revenues $ 116,276 $ 146,853 $ 207,716
EXPENDITURES
Principal Payments(20) 0 0 60,000
Extraordinary Principal Payments(20) 0 0 2,004
Interest Payments(20) 116,258 146,853 145,713
Total Expenditures $ 116,258 $ 146,853 $ 207,716
Net Excess/(Shortfall) $ 18 $ - $ -
Note:Capitalized Interest Was Set-Up Through November 1,2022
Series 2020 Bond(Maple Ridge)Information
Original Par Amount= $3,440,000 Annual Principal Payments Due:
Interest Rate= 3.8%-4.45% May 1st
Issue Date= July 2020 Annual Interest Payments Due:
Maturity Date= May 2052 May 1st&November 1st
Par Amount As Of 1/1/22= $3,440,000
Page 13
DETAILED PROPOSED DEBT SERVICE BUDGET
AVE MARIA STEWARDSHIP DEVELOPMENT DISTRICT
DEBT SERVICE FUND-SERIES 2022(MAPLE RIDGE)
FISCAL YEAR 2022/2023
OCTOBER 1,2022-SEPTEMBER 30,2023
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2020/2021 2021/2022 2022/2023
REVENUES ACTUAL BUDGET BUDGET
Interest Income(22) 0 0 100
Net NAV Collection(22) 0 0 0
Developer Contribution(22) 0 0 441,745
Capitalized Interest 0 220,985 0
Total Revenues $ - $ 220,985 $ 441,845
EXPENDITURES
Principal Payments(22) 0 0 145,000
Extraordinary Principal Payments(22) 0 0 0
Interest Payments(22) 0 220,985 296,845
Total Expenditures $ - $ 220,985 $ 441,845
Net Excess/(Shortfall) $ - $ - $ -
Note:Capitalized Interest Was Set-Up Through November 1,2022
Series 2022 Bond(Maple Ridge)Information
Original Par Amount= $7,775,000 Annual Principal Payments Due:
Average Interest Rate= 3.945% May 1st
Issue Date= February 2022 Annual Interest Payments Due:
Maturity Date= May 2052 May 1st&November 1st
Par Amount As Of 1/1/22= $3,440,000
Page 14
DETAILED PROPOSED DEBT SERVICE BUDGET
AVE MARIA STEWARDSHIP DEVELOPMENT DISTRICT
DEBT SERVICE FUND-SERIES 2021 (AVE MARIA NATIONAL)
FISCAL YEAR 2022/2023
OCTOBER 1,2022-SEPTEMBER 30,2023
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2020/2021 2021/2022 2022/2023
REVENUES ACTUAL BUDGET BUDGET
Interest Income(21) 14 0 0
Net NAV Collection(21) 0 59,230 88,227
Developer Contribution(21) 0 580,243 551,245
Capitalized Interest 66,088 0 0
Total Revenues $ 66,102 $ 639,473 $ 639,473
EXPENDITURES
Principal Payments(21) 0 225,000 225,000
Extraordinary Principal Payments(21) 0 0 0
Interest Payments(21) 66,088 414,473 414,473
Total Expenditures $ 66,088 $ 639,473 $ 639,473
Net Excess/(Shortfall) $ 14 $ - $ -
Series 2021 Bond(Ave Maria National)Information
Original Par Amount= $11,340,000 Annual Principal Payments Due:
Interest Rate= 2.6%-4.0% May 1st
Issue Date= March 2021 Annual Interest Payments Due:
Maturity Date= May 2051 May 1st&November 1st
Par Amount As Of 9/1/21 = $11,340,000
Page 15
DETAILED PROPOSED MAINTENANCE BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT
FISCAL YEAR 2022/2023
OCTOBER 1, 2022 -SEPTEMBER 30, 2023
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2020/2021 2021/2022 2022/2023
ACTUAL BUDGET BUDGET
MAINTENANCE EXPENDITURES
AQUATIC REPLACEMENTS 0 0 0
IRRIGATION REPAIR 59,968 95,000 95,000
MISCELLANEOUS MAINTENANCE 48,394 10,000 50,000
ELECTRIC (STREETLIGHTS, LANDSCAPE) 83,814 85,000 85,000
STREET SWEEPING 0 1,000 1,000
STRIPING & TRAFFIC MARKINGS 1,389 15,000 100,000
STREET LIGHT MAINTENANCE 86,695 80,000 110,000
SIDEWALK/CURB REPAIRS 160,627 70,000 150,000
LANDSCAPE MAINT/ ENHANCE (ROADWAY, ENTRIES): 0 30,000 30,000
MAINTENANCE CONTRACTS 670,453 630,000 630,000
TREE TRIMMING 48,815 50,000 146,000
STORM CLEANUP 0 25,000 25,000
STORM CLEANUP - ELECTRIC 0 25,000 25,000
STORM CLEANUP - LANDSCAPING 0 25,000 25,000
PLANT REPLACEMENT 173,161 90,000 90,000
MULCH & MISCELLANEOUS 136,014 140,000 140,000
WATER MANAGEMENT & DRAINAGE 3,600 4,000 4,000
ENTRY FEATURE WATER 3,989 4,500 4,500
IRRIGATION WATER 66,479 85,000 85,000
FOUNTAIN MAINTENANCE 45,121 25,000 25,000
RODENT/ PEST CONTROL 14,293 8,000 8,000
EQUIPMENT REPAIR 9,222 6,000 8,000
SIGNAGE REPAIR 8,705 10,000 15,000
STORM DRAIN CLEANING 0 10,000 50,000
DRAINAGE / LAKE MAINTENANCE/ LITTORALS 56,293 75,000 75,000
AERATORS 0 2,000 2,000
PRESERVE MAINTENANCE 61,156 60,000 60,000
SMALL TOOLS 4,934 2,500 3,500
VEHICLE LEASE / FUEL / REPAIRS (MAINT TECH) 4,884 20,000 20,000
MOSQUITO CONTROL 549,796 400,000 500,000
TEMP FIRE FACILITY OPERATING COSTS 125,991 40,000 90,000
MAINTENANCE TECHNICIANS 99,809 110,000 110,000
BASE MANAGEMENT FEE 20,250 20,000 20,000
ADMIN PAYROLL 52,211 55,000 55,000
ASSET MANAGER 0 0 50,000
LANDSCAPING PH 2 CAPITAL PROJECT 0 0 225,000
TOTAL MAINTENANCE EXPENDITURES $ 2,596,063 $ 2,308,000 $ 3,112,000
RESERVE FUND 27,500 27,500 27,500
CONTINGENCY FUND 9,350 15,000 15,000
TOTAL $ 2,632,913 $ 2,350,500 $ 3,154,500
Page 16
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Ave Maria Stewardship Community District
Debt Assessment Comparison 2022-2023
FY 2021-2022 FY 2022-2023 Change -
Number of Per Unit Per Unit Increase/
Type Bonds Series Platted Units Assessment Assessment (Decrease)
Multi Family 2019 166 $777.13 $860.98 $83.85
2022 92 $1,036.13 $952.98 ($83.15)
Single Family 2019 1,167 $1,149.13 $1,232.98 $83.85
2019 + 2015 394 $1,598.82 $1,682.67 $83.85
2019 + 2016 270 $1,822.32 $1,906.17 $83.85
2019 + 2018 3 $1,816.58 $1,900.43 $83.85
2022 521 $1,645.13 $1,408.98 ($236.15)
2022 + 2016 94 $2,318.32 $2,082.17 ($236.15)
2022 + 2018 408 $2,312.58 $2,076.43 ($236.15)
2022 + 2020 335 $2,315.13 $2,078.98 ($236.15)
2022 + 2021 143 $2,312.13 $2,075.98 ($236.15)
ALF Apartments 0 $27.54 $29.88 $2.34
Apartments 0 $84.62 $108.27 $23.65
Low Affordable Housing 48 $55.95 $68.75 $12.80
Retail/Entertainment/Service (sqft) 140,442 $0.43 $0.52 $0.09
Professional Offices (sqft) 51,529 $0.28 $0.33 $0.05
Light Manufacturing (sqft) 508,807 $0.18 $0.22 $0.04
Hotel (rooms) 0 $314.74 $386.69 $71.95
Medical Facilities (sqft) 10,904 $0.87 $1.07 $0.20
Institutional -AM University (students) 1,230 $19.11 $23.48 $4.37
Private K-12 School (students) 335 $29.86 $36.68 $6.82
Assessments Include the Following :
4% Discount for Early Payments
1.5% County Tax Collector Administrative Cost
2% County Property Appraiser Administrative Cost
Page 18
Ave Maria Master Irrit ation Utility
Proposed Budget For
Fiscal Year 2022/2023
October 1, 2022 - September go, 2023
PROPOSED AVE MARIA MASTER IRRIGATION UTILITY BUDGET
AVE MARIA STEWARDSHIP COMMUNITY DISTRICT
FISCAL YEAR 2022/2023
OCTOBER 1, 2022 -SEPTEMBER 30, 2023
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2020/2021 2021/2022 2022/2023
REVENUES ACTUAL BUDGET BUDGET COMMENTS
AMUC Revenue(Irrigation) 1,013,650 1,113,720 1,124,204 Irrigation
Developer Contribution 391,748 359,436 392,328 Developer Contribution
Connection Fees 0 7,950 8,010 Connection Fees
Installations 0 97,653 197,880 Installations
Miscellaneous Revenue 0 2,200 4,236 Miscellaneous Revenue
Peninsula True-Up Of Expenditures 228,919 0 0 Estimate Of True-Up Of Expenditures
Total Revenues $ 1,634,317 $ 1,580,959 $ 1,726,658
EXPENDITURES
Management Fee 126,127 134,367 152,205 Estimate of$11,197 per Month
Electricity 171,543 176,624 157,352 Electricity
Labor&Benefits 246,028 348,215 401,587 Labor&Benefits
Chemicals 4,681 6,000 1,500 Chemicals
Repairs&Maintenance 450,828 169,575 157,640 Repairs&Maintenance
Testing 2,401 1,550 1,200 Testing
Sludge Disposal 0 0 0 Sludge Disposal
Plan Review 0 0 0 Plan Review
Meter Purchase 83,789 220,845 236,351 Meter Purchase
Meter Installation 4,208 8,050 13,892 Meter Installation
Other Direct Costs 45,537 144,080 248,120 Other Direct Costs
Administration Fee 0 8,000 8,000
AMUC Bulk Water Charge 326,731 363,653 348,810 Estimate of$30,304 per Month
Other Expenses 0 0 0
Total Expenditures $ 1,461,871 $ 1,580,959 $ 1,726,658
Excess/(Shortfall) $ 172,446 $ - $ -
Note:Utility Fund Balance As Of 9/30/21 Was$505,530.07