2024 Proposed budget 2024/2025 TERRENO COMMUNITY DEVELOPMENT DISTRICT 6
c/o Special District Services, Inc.
2501 Burns Road, Suite A
Palm Beach Gardens, Florida 33410
(561) 630-4922
Fax: (561) 630-4923
February 15, 2024
VIA CERTIFIED MAIL—
RETURN RECEIPT REQUESTED
Clerk of the Circuit Court
Collier County Courthouse
3315 Tamiami Trail East, #102
Naples, Florida 34112-5324
Re: Terreno Community Development District
To Whom It May Concern:
Pursuant to Florida law, enclosed please find a copy of the following documents relative
to the above referenced community development district:
1.) Proposed Budget for Fiscal Year 2024/2025 (Oct 1, 2024—Sept. 30, 2025)
If you have any questions or comments, please contact our office.
Sincerely,
SPECIAL DISTRICT SERVICES, INC.
La kra/f. A rchor
Laura J. Archer
Enclosure
lbl
Terreno
Community Development District
Proposed Budget For
Fiscal Year 2024/2025
October 1, 2024 - September 30, 2025
CONTENTS 1 b i
I PROPOSED BUDGET
II DETAILED PROPOSED BUDGET
III DETAILED PROPOSED DEBT SERVICE FUND BUDGET
IV ASSESSMENT COMPARISON
PROPOSED BUDGET 16
TERRENO COMMUNITY DEVELOPMENT DISTRICT
FISCAL YEAR 2024/2025
OCTOBER 1,2024-SEPTEMBER 30,2025
FISCAL YEAR
2024/2025
REVENUES BUDGET
O&M(Operation&Maintenance)Assessments 216,212
Developer Contribution 0
Debt Assessments 562,254
Interest Income 480
TOTAL REVENUES $ 778,946
EXPENDITURES
Administrative Expenditures
Supervisor Fees 0
Management 37,080
Legal 27,250
Assessment Roll 5,000
Audit Fees 4,400
Arbitrage Rebate Fee 650
Insurance 5,900
Legal Advertisements 2,900
Miscellaneous 1,000
Postage 200
Office Supplies 1,250
Dues&Subscriptions 175
Website Management&ADA Compliance 3,000
Trustee Fees 4,100
Continuing Disclosure Fee 1,000
Total Administrative Expenditures $ 93,905
Maintenance Expenditures
Engineering/Inspections 3,000
Miscellaneous Maintenance 1,000
Preserve Maintenance 75,000
Lake Bank Maintenance 20,000
Total Maintenance Expenditures $ 99,000
Total O&M Expenditures $ 192,905
REVENUES LESS EXPENDITURES $ 586,041
Bond Payments (528,519)
BALANCE $ 57,522
County Appraiser Fee (11,504)
Tax Collector Fee (15,339)
Discounts For Early Payments (30,679)
EXCESS/(SHORTFALL) $
2/5/2024 12:32 PM
DETAILED PROPOSED BUDGET 1 & .04
TERRENO COMMUNITY DEVELOPMENT DISTRICT
FISCAL YEAR 2024/2025
OCTOBER 1,2024-SEPTEMBER 30,2025
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2022/2023 2023/2024 2024/2025
REVENUES ACTUAL BUDGET BUDGET COMMENTS
O&M(Operation&Maintenance)Assessments 0 216,493 216,212 Expenditures Less Interest/.94
Developer Contribution 90,412 0 0
Debt Assessments 0 562,254 562,254 Bond Payments/.94
Interest Income 472 240 480 Interest Projected At$40 Per Month
TOTAL REVENUES $ 90,884 $ 778,987 $ 778,946
EXPENDITURES
Administrative Expenditures
Supervisor Fees 0 0 0
Management 36,000 36,000 37,080 CPI Adjustment(Capped At 3%)
Legal 26,328 27,500 27,250$250 Decrease From 2023/2024 Budget
Assessment Roll 5,000 5,000 5,000 As Per Contract
Audit Fees 3,200 4,300 4,400 Amount Has Increased From 22/23 Due To Bond Issue
Arbitrage Rebate Fee 0 650 650 Commences In Fiscal Year Following Issuing Of Bond
Insurance 5,000 6,000 5,900 Fiscal Year 2023/2024 Expenditure Was$5,375
Legal Advertisements 6,836 3,000 2,900 Expenditure Should Decrease Wlth Bond Being Issued&District Placed On Roll
Miscellaneous 277 1,500 1,000$500 Decrease From 2023/2024 Budget
Postage 542 200 200 No Change From 2023/2024 Budget
Office Supplies 814 1,500 1,250$250 Decrease From 2023/2024 Budget
Dues&Subscriptions 175 175 175 Annual Fee Due Department Of Economic Opportunity
Website Management&ADA Compliance 3,000 3,000 3,000$250 X 12 Months
Trustee Fees 0 4,100 4,100 Commences In Fiscal Year Following Issuing Of Bond
Continuing Disclosure Fee 0 1,000 1,000 No Change From 2023/2024 Budget
Total Administrative Expenditures $ 87,172 $ 93,925 $ 93,905
Maintenance Expenditures
Engineering/Inspections 9,465 3,000 3,000 No Change From 2023/2024 Budget
Miscellaneous Maintenance 0 1,000 1,000 No Change From 2023/2024 Budget
Preserve Maintenance 0 75,000 75,000 No Change From 2023/2024 Budget
Lake Bank Maintenance 0 20,000 20,000 No Change From 2023/2024 Budget
Total Maintenance Expenditures $ 9,465 $ 99,000 $ 99,000
Total O&M Expenditures $ 96,637 $ 192,925 $ 192,905
REVENUES LESS EXPENDITURES $ (5,753) $ 586,062 $ 586,041
Bond Payments 0 (528,519) (528,519)2025 Principal&Interest Payments
BALANCE $ (5,753) $ 57,543 $ 57,522
County Appraiser Fee 0 (11,509) (11,504)One And One Half Percent Of Total Assessment Roll
Tax Collector Fee 0 (15,345) (15,339)Two Percent Of Total Assessment Roll
Discounts For Early Payments 0 (30,689) (30,679)Four Percent Of Total Assessment Roll
EXCESS/(SHORTFALL) $ (5,753) $ - $ -
2/5/2024 12:32 PM I I
DETAILED PROPOSED DEBT SERVICE FUND BUDGET 1 6
TERRENO COMMUNITY DEVELOPMENT DISTRICT
FISCAL YEAR 2024/2025
OCTOBER 1,2024-SEPTEMBER 30,2025
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2022/2023 2023/2024 2024/2025
REVENUES ACTUAL BUDGET BUDGET COMMENTS
Interest Income 6,447 100 400 Projected Interest For 2024/2025
NAV Tax Collection 0 528,519 528,519 Maximum Debt Service Collection
Bond Proceeds 349,939 0 0
Developer Contribution 0 0 0
Total Revenues $ 356,386 $ 528,619 $ 528,919
EXPENDITURES
Principal Payments 0 125,000 130,000 Principal Payment Due In 2025
Interest Payments 85,679 403,194 397,775 Interest Payment Due In 2025 •
Bond Redemption - 425 1,144 Estimated Excess Debt Collections
Total Expenditures $ 85,679 $ 528,619 $ 528,919
Excess/(Shortfall) $ 270,707 $ - $ -
Note:Capital Interest Set-up Through May 2023-Developer Paid November 2023 Interest Payment($202,925).
Series 2023 Bond Information
Original Par Amount= $8,060,000 Annual Principal Payments Due= May 1st
Interest Rate= 4.25%-5.25% Annual Interest Payments Due= May 1st&November 1st
Issue Date= February 2023
Maturity Date= May 2053
Par Amount As Of 1/1/24= $8,060,000
2/5/2024 12:32 PM Ill
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