Bella Collina
Community Development District
Adopted Budget
FY 2020

Bella Collina Community Development District

Table of Contents

1

2-5

6

7

8

9

10-14

15

 	General Fund

 	General Fund Narrative

 	Capital Reserve Fund (GF)

 	Series 2004 Debt Service

 	Series 2004 Amortization Schedule

 	Water & Sewer Fund

 	Water & Sewer Narrative

 	Capital Reserve Fund (WSF)

16	 	Series 2016 Amortization Schedule

Bella Collina
Community Development District Adopted Budget
General Fund
Fiscal Year 2020

	FY2019
Annual	Actual
thru	Projected
Next 4	Total
Thru	FY2020
Annual	
Description	Budget	5/31/19	Months	9/30/19	Budget	

Revenues						
Special Assessments	$183,158	$174,320	$9,809	$184,129	$183,158	
Total Revenues	$183,158	$174,320	$9,809	$184,129	$183,158	

Expenditures						
Administrative						
Supervisor Fees	$6,000	$5,000	$3,000	$8,000	$6,000	
FICA Expense	$459	$306	$230	$536	$459	
Engineering Fees	$8,000	$5,667	$2,333	$8,000	$8,000	
Attorney Fees	$10,000	$18,614	$6,386	$25,000	$10,000	
Trustee Fees	$6,000	$4,562	$0	$4,562	$5,000	
Arbitrage	$600	$0	$600	$600	$600	
Collection Agent	$5,000	$5,000	$0	$5,000	$5,000	
Dissemination	$3,000	$2,250	$750	$3,000	$3,000	
Annual Audit	$1,688	$0	$1,688	$1,688	$1,688	
Management Fees	$44,274	$29,516	$11,069	$40,585	$45,602	
Information Technology	$2,200	$1,467	$3,225	$4,692	$2,200	
Telephone	$100	$13	$37	$50	$100	
Postage	$1,500	$1,288	$462	$1,750	$1,500	
Printing & Binding	$1,500	$399	$201	$600	$1,500	
Insurance	$8,250	$7,481	$0	$7,481	$8,000	
Legal Advertising	$1,500	$4,752	$0	$4,752	$1,500	
Other Current Charges	$250	$0	$50	$50	$250	
Office Supplies	$400	$126	$74	$200	$400	
Tax Collector Fee	$3,800	$3,454	$346	$3,800	$3,800	
Dues, Licenses, Subscriptions	$175	$175	$0	$175	$175	
Administrative Expenses	$104,696	$90,068	$30,449	$120,517	$104,774	

Maintenance						
Field Management	$23,726	$15,817	$5,932	$21,749	$24,438	
Pond Maintenance	$26,010	$17,340	$6,503	$23,843	$26,010	
Stormwater Repairs & Maintenance	$10,000	$0	$460	$460	$10,000	
Contingency	$0	$0	$0	$0	$0	
Operating Reserve	$0	$0	$0	$0	$0	
Transfer Out - Capital Reserve	$18,727	$0	$15,000	$15,000	$17,937	
Maintenance Expenses	$78,463	$33,157	$27,894	$61,051	$78,385	
						
Total Expenses	$183,158	$123,225	$58,344	$181,569	$183,158	
						
Excess Revenues (Expenditures)	$0	$51,095	($48,534)	$2,560	$0	
				
Net Assessments	
$183,158	
Add: Discounts (4%) 		$7,632 Gross Assessments 	$190,790 

Product Type	
EAU	
Units	Total
EAU	% of
EAU	Total
Assessments	Per Unit Gross
Assessments	
Commercial	1.00	96	96.00	5.65%	$10,787	$112	
Single-Family	2.00	801	1602.00	94.35%	$180,003	$225	
Water & Sewer Standby Fees	----	706	----	----	$137,670	$195	
			1698.00	100.00%	$328,460		

REVENUES:

Special Assessments
The District will levy a non-ad valorem special assessment on all taxable property within the District to fund all general operating and maintenance expenditures for the Fiscal Year.

EXPENDITURES:

Administrative:

Supervisor Fees
The Florida Statutes allows each supervisor to be paid $200 per meeting not to exceed
$4,800, for the time devoted to District business and board meetings. Amount is based on 5 supervisors attending 6 Board meetings.

FICA Expense
Represents the Employer's share of Social Security and Medicare taxes withheld from Board of Supervisors checks.

Engineering Fees
The District’s engineer, Boyd Civil Engineering, Inc., will be providing general engineering services to the District, e.g., attendance and preparation for monthly board meetings, reviewing invoices, etc.

Attorney Fees
The District’s legal counsel will be providing general legal services to the District, e.g., attendance and preparation for monthly meetings, reviewing operating and maintenance contracts, etc. The District has contracted Latham, Shuker, Eden & Beaudine, LLP.

Trustee Fees
The District issued Series 2004 Special Assessment Revenue Bonds, which are held with a Trustee at Regions Bank. The amount of the trustee fees is based on the agreement between Regions Bank and the District.

Arbitrage
The District had contracted with an independent certified public accountant, to annually calculate the District’s Arbitrage Rebate Liability on the Series 2004 Special Assessment Bonds. The District hired Grau & Associates to calculate the rebate liability and submit a report to the District.

Collection Agent
These are expenses related to administering the Annual Assessments on the tax roll with the Lake County Tax Collector.

Dissemination
The District is required by the Securities and Exchange Commission to comply with Rule 15(c)(2)-12(b)(5), which relates to additional reporting requirements for un-rated bond issues. The District has contracted with Governmental Management Services-CF, LLC, the District’s bond underwriter, to provide this service.

Annual Audit
The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm. The District has contracted Berger, Toombs, Elam, Gaines & Frank.

Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services – Central Florida, LLC. The services include, but not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reporting, annual audits, etc.

Information Technology
Represents costs related to the District’s accounting and information systems, District’s website creation and maintenance, electronic compliance with Florida Statutes and other electronic data requirements.
.
Telephone
Telephone and fax machine.

Postage
Mailing of board meeting agenda packages, overnight deliveries, agreements, vendor checks and any other required correspondence.

Printing & Binding
Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes, etc.

Insurance
The District’s general liability and public officials’ liability insurance coverage is provided by Florida Insurance Alliance.

Legal Advertising
The District is required to advertise various notices for monthly Board meetings, public hearings, etc. in a newspaper of general circulation.

Other Current Charges
Bank charges and any other miscellaneous expenses that are incurred during the fiscal year.

Office Supplies
The District incurs charges for supplies that need to be purchased during the fiscal year, including copier and printer toner cartridges, paper, file folders, binders for District records and other such office supplies.

Tax Collector Fee
The District has contracted with the Lake County Tax Collector to collect the Special Assessments.

Dues, Licenses & Subscriptions
The District is required to pay an annual fee to the Department of Economic Opportunity of $175. This is the only expense under this category for the District.

MAINTENANCE:

Field Management
The District currently has a contract with Governmental Management Services – Central Florida, LLC. to provide field management services. Services include site inspections of the dry ponds, meeting with contractors as needed, attend Board meetings, and receive and respond to property owner phone calls and or emails.

Pond Maintenance
Contracted yearly cost to maintain the District’ s dry ponds.

Description	Monthly	Annually	
The Club at Bella Collina	$2,167
TOTAL	$26,010	
	$26,010	

Stormwater Repairs & Maintenance
Represents estimated costs for storm structure maintenance, dry pond erosion repairs & pipe repairs and maintenance.

Transfer Out – Capital Reserve
Funds transferred out to the General Fund’s Capital Reserve for any capital outlay expenses.

Bella Collina
Community Development District Adopted Budget
Capital Reserve - General Fund
Fiscal Year 2020

	FY2019
Annual	Actual
thru	Projected
Next 4	Total
Thru	FY2020
Annual	
Description	Budget	5/31/19	Months	9/30/19	Budget	

Revenues						
Transfer In	$18,727	$0	$15,000	$15,000	$17,937	
Interest	$2,500	$6,236	$1,764	$8,000	$5,000	
Carry Forward Surplus	$361,324	$361,913	$0	$361,913	$384,913	
Total Revenues	$382,550	$368,149	$16,764	$384,913	$407,849	

Expenditures						
Capital Outlay	$0	$0	$0	$0	$0	
Total Expenses	$0	$0	$0	$0	$0	
						
Excess Revenues (Expenditures)	$382,550	$368,149	$16,764	$384,913	$407,849	

Bella Collina
Community Development District Adopted Budget
Debt Service Series 2004 Special Assessments
Fiscal Year 2020

	FY2019
Annual	Actual
thru	Projected
Next 4	Total
Thru	FY2020
Annual	
Description	Budget	5/31/19	Months	9/30/19	Budget	

Revenues						
Special Assessments	$1,547,601	$1,472,132	$75,470	$1,547,601	$1,547,601	
Interest	$250	$26,160	$3,840	$30,000	$5,000	
Carry Forward Surplus 1	$606,203	$729,401	$0	$729,401	$767,153	
Total Revenue	$2,154,054	$2,227,693	$79,310	$2,307,003	$2,319,754	

Expenditures						
Special Call 11/01	$0	$50,000	$0	$50,000	$0	
Interest Expense 11/01	$437,144	$437,144	$0	$437,144	$418,888	
Principal Expense 05/01	$545,000	$585,000	$0	$585,000	$570,000	
Interest Expense 05/01	$437,144	$435,706	$0	$435,706	$418,888	
Other Debt Service Cost	$32,000	$28,930	$3,070	$32,000	$32,000	
Total Expenses	$1,451,288	$1,536,780	$3,070	$1,539,850	$1,439,775	
						
Excess Revenues (Expenditures)	$702,767	$690,913	$76,240	$767,153	$879,979	
				
Nov 1,2020	
$402,500	
				Net Assessments	$1,547,601	
1. Carry forward surplus is net of Reserves.	Add: Discounts (4%) 		$64,483 Gross Assessments 	$1,612,085 

Product Type	
EAU	
Units	Total
EAU	% of
EAU	Total
Assessments	Per Unit Gross
Assessments	
Commercial	1.00	96	96.00	5.65%	$91,143	$949	
Single-Family	2.00	801	1602.00	94.35%	$1,520,942	$1,899	
		897	1698.00	100.00%	$1,612,085		

Bella Collina Community Development District
Series 2004 Special Assessment Bonds Debt Service Schedule
AMORTIZATION SCHEDULE

DATE	BALANCE	RATE	PRINCIPAL	INTEREST	TOTAL

11/01/19	$14,570,000.00	5.750%	$0.00	$418,887.50	$418,887.50	
05/01/20	$14,570,000.00	5.750%	$570,000.00	$418,887.50		
11/01/20	$14,000,000.00	5.750%	$0.00	$402,500.00	$1,391,387.50	
05/01/21	$14,000,000.00	5.750%	$605,000.00	$402,500.00		
11/01/21	$13,395,000.00	5.750%	$0.00	$385,106.25	$1,392,606.25	
05/01/22	$13,395,000.00	5.750%	$640,000.00	$385,106.25		
11/01/22	$12,755,000.00	5.750%	$0.00	$366,706.25	$1,391,812.50	
05/01/23	$12,755,000.00	5.750%	$680,000.00	$366,706.25		
11/01/23	$12,075,000.00	5.750%	$0.00	$347,156.25	$1,393,862.50	
05/01/24	$12,075,000.00	5.750%	$720,000.00	$347,156.25		
11/01/24	$11,355,000.00	5.750%	$0.00	$326,456.25	$1,393,612.50	
05/01/25	$11,355,000.00	5.750%	$760,000.00	$326,456.25		
11/01/25	$10,595,000.00	5.750%	$0.00	$304,606.25	$1,391,062.50	
05/01/26	$10,595,000.00	5.750%	$805,000.00	$304,606.25		
11/01/26	$9,790,000.00	5.750%	$0.00	$281,462.50	$1,391,068.75	
05/01/27	$9,790,000.00	5.750%	$855,000.00	$281,462.50		
11/01/27	$8,935,000.00	5.750%	$0.00	$256,881.25	$1,393,343.75	
05/01/28	$8,935,000.00	5.750%	$905,000.00	$256,881.25		
11/01/28	$8,030,000.00	5.750%	$0.00	$230,862.50	$1,392,743.75	
05/01/29	$8,030,000.00	5.750%	$960,000.00	$230,862.50		
11/01/29	$7,070,000.00	5.750%	$0.00	$203,262.50	$1,394,125.00	
05/01/30	$7,070,000.00	5.750%	$1,015,000.00	$203,262.50		
11/01/30	$6,055,000.00	5.750%	$0.00	$174,081.25	$1,392,343.75	
05/01/31	$6,055,000.00	5.750%	$1,075,000.00	$174,081.25		
11/01/31	$4,980,000.00	5.750%	$0.00	$143,175.00	$1,392,256.25	
05/01/32	$4,980,000.00	5.750%	$1,140,000.00	$143,175.00		
11/01/32	$3,840,000.00	5.750%	$0.00	$110,400.00	$1,393,575.00	
05/01/33	$3,840,000.00	5.750%	$1,205,000.00	$110,400.00		
11/01/33	$2,635,000.00	5.750%	$0.00	$75,756.25	$1,391,156.25	
05/01/34	$2,635,000.00	5.750%	$1,280,000.00	$75,756.25		
11/01/34	$1,355,000.00	5.750%	$0.00	$38,956.25	$1,394,712.50	
05/01/35	$1,355,000.00	5.750%	$1,355,000.00	$38,956.25	$1,393,956.25	
			$14,570,000.00	$8,132,512.50	$22,702,512.50	

Bella Collina
Community Development District Adopted Budget
Water  & Sewer
Fiscal Year 2020

	FY2019
Annual	Actual
thru	Projected
Next 4	Total
Thru	FY2020
Annual	
Description	Budget	5/31/19	Months	9/30/19	Budget	

Revenues						

Water Utility Revenue
Monthly Potable Water & Irrigation Consumption	

$300,000	

$194,538	

$94,316	

$288,854	

$276,700	
Monthly Wastewater Consumption	$40,000	$51,449	$18,551	$70,000	$70,000	
Special Assessments	$134,222	$127,620	$7,182	$134,802	$132,163	
Application Fees	$0	$600	$375	$975	$0	
Meter Fees	$0	$8,900	$10,100	$19,000	$0	
Grinder Pump Fees	$0	$28,536	$28,536	$57,072	$0	
Miscellaneous Revenue	$500	$6,761	$1,739	$8,500	$8,000	
Interest	$150	$1,789	$211	$2,000	$1,000	
Carry Forward Surplus	$24,800	$0	$0	$0	$0	
Total Revenues	$499,672	$420,193	$161,010	$581,202	$487,863	

Expenditures						

Administrative						

Engineering Fees	
$40,000	
$42,350	
$7,650	
$50,000	
$40,000	
Attorney Fees	$15,500	$0	$5,000	$5,000	$15,500	
Trustee Fees	$4,000	$0	$3,500	$3,500	$3,500	
Arbitrage	$600	$0	$600	$600	$600	
Dissemination	$3,000	$2,000	$1,000	$3,000	$3,000	
Annual Audit	$1,688	$0	$1,688	$1,688	$1,688	
Management Fees	$12,649	$8,433	$4,216	$12,649	$13,029	
Tax Collector Fee	$2,996	$2,501	$495	$2,996	$2,996	
Other Current Charges	$350	$330	$120	$450	$600	
Dues, Licenses & Subscriptions	$5,300	$0	$5,300	$5,300	$5,300	
Total Administrative	$86,083	$55,613	$29,569	$85,182	$86,213	

Operations						

Field Management	
$12,000	
$8,000	
$4,000	
$12,000	
$12,360	
Electricity	$40,000	$26,207	$12,000	$38,207	$40,000	
Telephone	$4,500	$2,700	$1,450	$4,150	$5,000	
Trash Removal	$2,100	$1,400	$700	$2,100	$2,350	
Insurance	$18,750	$16,968	$0	$16,968	$18,000	
Grinder Pump	$0	$26,766	$0	$26,766	$0	
Repairs & Maintenance	$80,000	$53,132	$26,868	$80,000	$80,000	
Water Plant Services (General Utilities)	$42,000	$25,231	$14,440	$39,671	$40,000	
Wastewater Plant Services (General Utilities)	$85,000	$52,725	$19,230	$71,955	$76,000	
Sludge Disposal	$6,000	$0	$2,000	$2,000	$6,000	
Contractual Services (Utility Technicians)	$10,000	$11,226	$3,774	$15,000	$10,000	
Fuel Expense	$4,575	$0	$1,150	$1,150	$4,575	
Landscape Maintenance	$8,000	$5,060	$2,531	$7,591	$8,000	
Pond Maintenance	$1,200	$728	$364	$1,092	$1,200	
Wastewater Testing & Analysis	$25,000	$11,440	$10,560	$22,000	$25,000	
Operating Systems Maintenance	$6,500	$3,400	$1,720	$5,120	$6,500	
Generator Maintenance	$3,500	$6,142	$0	$6,142	$5,000	
Lighting	$15,000	$0	$3,000	$3,000	$15,000	
New Meter Install	$0	$0	$0	$0	$0	
Contingency	$0	$0	$0	$0	$0	
Operating Reserve	$0	$0	$0	$0	$0	
Transfer Out - Capital Reserve	$49,465	$0	$49,465	$49,465	$46,666	
Total Operations	$413,590	$251,124	$153,252	$404,376	$401,651	
						
Total Expenditures	$499,673	$306,736	$182,821	$489,557	$487,863	
						
Excess Revenues (Expenditures)	($0)	$113,457	($21,811)	$91,645	$0	

Non Operating Revenues/(Expenditures)						

AFPI Fees - Water	
$0	
$6,018	
$15,082	
$21,100	
$0	
AFPI Fees - Sewer	$0	$3,174	$7,427	$10,601	$0	
Connection Fees - Water	$0	$33,210	$24,146	$57,356	$0	
Connection Fees - Sewer	$0	$17,520	$12,738	$30,258	$0	
Principal Expense	$0	($63,749)	$0	($63,749)	$0	
Total Non Operating Revenues/(Expenditures)	$0	($3,827)	$59,393	$55,566	$0	

NET SPECIAL ASSESSMENTS	$132,163	
ADD: DISCOUNTS (4%)	$5,507	
GROSS SPECIAL ASSESSMENTS	$137,670	

UNDEVELOPED LOTS	
706	
PER LOT SPECIAL ASSESSMENTS	$195	

REVENUES:

Monthly Potable Water Consumption
Estimated water and irrigation revenue.

Monthly Wastewater Consumption
Estimated wastewater revenue.

Special Assessments
The District will levy non-ad valorem special assessments on all taxable property within the District to fund operating and maintenance expenditures for the fiscal year.

Miscellaneous Revenue
Represents any miscellaneous revenues.

Interest
The District will have funds invested in a money market fund throughout the fiscal year.

EXPENDITURES:

ADMINISTRATIVE:

Engineering Fees
The District’s engineer, Boyd Civil Engineering, Inc., will be providing general engineering services to the District, e.g., attendance and preparation for monthly board meetings, reviewing invoices, etc.

Attorney Fees
The District’s legal counsel will be providing general legal services to the District, e.g., attendance and preparation for monthly meetings, reviewing operating and maintenance contracts, etc. The District has contracted Latham, Shuker, Eden & Beaudine, LLP.

Trustee Fees
The District issued Series 2016 Utility System Capital Appreciation Bonds, which are held with a Trustee at Regions Bank. The amount of the trustee fees is based on the agreement between Regions Bank and the District.

Arbitrage
The District had contracted with an independent certified public accountant, to annually calculate the District’s Arbitrage Rebate Liability on the Series 2016 Utility System Capital Appreciation Bonds. The District hired Grau & Associates to calculate the rebate liability and submit a report to the District.

Dissemination
The District is required by the Securities and Exchange Commission to comply with Rule 15(c)(2)-12(b)(5), which relates to additional reporting requirements for un-rated bond issues. The District has contracted with Governmental Management Services-CF, LLC, the District’s bond underwriter, to provide this service.

Annual Audit
The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm. The District has contracted Berger, Toombs, Elam, Gaines & Frank.

Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services – Central Florida, LLC. The services include, but not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reporting, annual audits, etc.

Tax Collector Fee
The District has contracted with the Lake County Tax Collector to collect the Special Assessments.

Other Current Charges
Bank charges and any other miscellaneous expenses that are incurred during the fiscal year.

Dues, Licenses & Subscriptions
The District is required to pay annual fees to the Florida Department of Environmental Protection and the Florida Rural Water Association. These are the only expenses under this category for the District.

OPERATIONS:

Field Management
The District currently has a contract with Governmental Management Services – Central Florida, LLC, to provide field management services. Services include onsite inspections to Water Treatment Plant, Waste Water Treatment Plant and Hillcrest Treatment Plant, meetings with utility system vendors and emails.

Electricity
This item represents utility service costs for electricity as provided by Duke Energy.

Account#	Address	Monthly	Annual	
24375 51063	17447 Cavallo Dr. Streetlighting	$275	$3,300	
52815 07181	17500 Cavallo Dr. Water Treatment Plant	$525	$6,300	
65008 90457	17510 Cavallo Dr. Waste Water Treatment Plant	$1,425	$17,100	
72264 33555	15340 Pendio Dr. Well 1	$125	$1,500	
08607 10318	15601 Vetta Dr. Hillcrest Treatment Plant	$650	$7,800	
27855 69531	15900 Pendio Dr. Well 2	$125	$1,500	
	Contingency		$2,500	
TOTAL			$40,000	

Telephone
This is for service for the water and wastewater plants phone lines as provided by Centurylink.

Account#	Address	Monthly	Annual	
407-469-2585-	17500 Cavallo Drive Water Treatment Plant	$65	$780

$900

$2,280
$1,040	
206				
407-469-3353-	17510 Cavallo Drive Waste Water Treatment	$75		
077	Facility			
407-469-9411-	15601 Vetta Drive Hill Crest Water Treatment Plant	$190		
606				
	Contingency (Additional Line/Rate Increase)			
TOTAL			$5,000	

Trash Removal
To record the expenses related to trash and rubbish removal of miscellaneous items, dumpster contract service and hauling of miscellaneous items. The District has the following utility account with Waste Management

Description	Monthly	Annually	
Waste Management	$175
Contingency
TOTAL	$2,100
$250	
	$2,350	

Insurance
The District’s property insurance coverage is provided by Florida Insurance Alliance.

Repairs and Maintenance
Any costs related to miscellaneous repairs and maintenance that occur during the fiscal year.

Description	Fee	
Biosolids Removal/Hauling Solid Waste Dumpster
TOTAL	$4,200
$1,800	
	$6,000	

Water Plant Services
Contracted yearly cost to operate the District’s water plant. The District currently has a contract with General Utilities to provide this service.

Wastewater Plant Services
Contracted yearly cost to operate the District’s wastewater plant. The District currently has a contract with General Utilities to provide this service

Sludge Disposal
Estimated cost of sludge disposal when requirements have been met.

Contractual Services
Services provided on as needed basis for plant operations.

Fuel Expense
Estimated amount of fuel to be purchase for the District’s backup generators.

Landscape Maintenance
The District currently has a contract with The Club at Bella Collina to maintain the landscape areas surrounding the water plant.

Description	Monthly	Annually	
The Club at Bella Collina	$633
Contingency
TOTAL	$7,594
$406	
	$8,000	

Pond Maintenance
Contracted yearly cost to maintain the District’s Waste Water Treatment Plant Pond.

Description	Monthly	Annually	
Applied Aquatic Management, Inc.	$91
Contingency
TOTAL	$1,092
$108	
	$1,200	

Wastewater Testing & Analysis
Represents estimated costs incurred during the fiscal year for testing and analysis of the wastewater treatment facility per the FDEP permit #FLA 297631-005.

Operating Systems Maintenance
Represents estimated costs incurred during the fiscal year for maintenance of mechanical, electrical and computer operating systems.

Generator Maintenance
Represents estimated costs incurred during the fiscal year for semi-annual service on four generators located at Well #1, Pine Island Water Plant, Pine Island Sewer Plant and the Hillcrest Water Plant.

Lighting
Represents estimated costs for any lighting supplies and repairs to the water treatment plants, wastewater treatment plants and wells.

Transfer Out – Capital Reserve
Funds transferred out to the Water & Sewer’s Capital Reserve for any capital outlay expenses.

Community Development District Adopted Budget
Capital Reserve - Water & Sewer Fund
Fiscal Year 2020

	FY2019
Annual	Actual
thru	Projected
Next 4	Total
Thru	FY2020
Annual	
Description	Budget	5/31/19	Months	9/30/19	Budget	

Revenues						
Transfer In	$49,465	$0	$49,465	$49,465	$46,666	
Interest	$1,000	$3,661	$1,089	$4,750	$1,000	
Carry Forward Surplus	$462,870	$483,355	$0	$483,355	$365,070	
Total Revenues	$513,335	$487,016	$50,554	$537,570	$412,736	

Expenditures						
Capital Outlay	$419,000	$47,588	$124,912	$172,500	$243,500	
Total Expenses	$419,000	$47,588	$124,912	$172,500	$243,500	
						
Excess Revenues (Expenditures)	$94,335	$439,428	($74,358)	$365,070	$169,236	

FY19 Projected Expenses (Updated)	Amount	

Water - Chlorine Analyzer Replacement - Pine Island & Hillcrest	$3,000 Water - Check Valve Replacement - Hillcrest	$5,500
Sewer - Influent Sampler	$6,000
Water - High Service Pump Rebuilds/Replacement  - Pine Island	$15,000 Sewer - PLC Replacement  (Labor & Supplies)	$18,000
Water - PLC Replacement - Pine Island * Hillcrest	$25,000
Water - Well Repair/Rebuild - Pine Island	$100,000	
Total	$172,500	

FY20 Projected Expenses	Amount	

Sewer - 6" Valve Replacements	$4,500
Sewer - Clarifier	$31,000
Water - Meter Installation  with Check Valves/PRV	$58,000
Water - Well Repair/Rebuild - Hillcrest	$150,000	
Total	$243,500	

Community Development District
Series 2016 Utility System Capital Appreciation Bonds Debt Service Schedule
AMORTIZATION SCHEDULE

Date	Bond Balance	Prior Interest	Current Int.	Accredited Int.	Total Bond Value	
8/1/19					$	1,219,672	
11/1/19	$1,219,672	$	-	$	16,161	$	16,161	$	1,235,833	
5/1/20	$1,219,672	$	16,161	$	32,750	$	48,910	$	1,268,582	
11/1/20	$1,219,672	$	48,910	$	33,617	$	82,528	$	1,302,200	
5/1/21	$1,219,672	$	82,528	$	34,508	$	117,036	$	1,336,708	
11/1/21	$1,219,672	$	117,036	$	35,423	$	152,459	$	1,372,131	
5/1/22	$1,219,672	$	152,459	$	36,361	$	188,820	$	1,408,492	
11/1/22	$1,219,672	$	188,820	$	37,325	$	226,145	$	1,445,817	
5/1/23	$1,219,672	$	226,145	$	38,314	$	264,459	$	1,484,132	
11/1/23	$1,219,672	$	264,459	$	39,329	$	303,789	$	1,523,461	
5/1/24	$1,219,672	$	303,789	$	40,372	$	344,161	$	1,563,833	
11/1/24	$1,219,672	$	344,161	$	41,442	$	385,602	$	1,605,274