RESOLUTION WHEREAS, the Board of Supervisors has accepted said Proposed Budget and desires to set the required public hearing hereon;

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Lionel French
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1 RESOLUTION A RESOLUTION APPROVING THE DISTRICT'S PROPOSED BUDGET OF THE VILLAGE COMMUNITY DEVELOPMENT DISTRICT NO. 12 FOR FISCAL YEAR IN ACCORDANCE WITH CHAPTER 190 F.S. AND SETTING A PUBLIC HEARING THEREON PURSUANT TO FLORIDA LAW WHEREAS, the District Manager has heretofore prepared and submitted to the Board, the District's Proposed Budget for the forthcoming Fiscal Year ; and WHEREAS, the Board of Supervisors has accepted said Proposed Budget and desires to set the required public hearing hereon; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE VILLAGE COMMUNITY DEVELOPMENT DISTRICT NO. 12; 1. The operating budget proposed by the District Manager for Fiscal Year is hereby approved for the amount as listed below along with the proposed maintenance assessment rates based on the attached schedule: General Fund $ 2,671, The budgets for the Debt Service and Capital Projects Funds proposed by the District Manager for Fiscal Year is hereby approved for the amount as listed below: Debt Service Fund Debt Service Fund Capital Projects Fund $ 3,897,125 $ 4,367,550 $ 4. A public hearing on said approved Budget is hereby declared and set for the following date, hour and place: Date: September 13, 2018 Time: 10:00 a.m. Place: District Conference Room Lake Sumter Landing 984 Old Mill Run The Villages, Florida 32

2 Adopted this 7th day of June VILLAGE COMMUNITY DEVELOPMENT DISTRICT NO. 12 2

VILLAGE COMMUNITY DEVELOPMENT DISTRICT District 12 FY 2018-19 Budget 18-19 Object C d o es 325200 325211 341900 341999 361100 361101 361102 361105 366000 366001 499995 669900 669901 499998 - - - - 12

3 VILLAGE COMMUNITY DEVELOPMENT DISTRICT District 12 FY Budget Object C d o es SOURCES Special Assessments-Serv. Charg Maintenance Assessment Other General Government Chg & Misc Revenue Interest Int Income - CFB Int Income - Cash Equiv Interest Income-Tax Collecto Contributions & Donations from Contributions from Developer TOTAL REVENUE Budget Funding Sources (Add)/Use-Working Capital TOTAL SOURCES c ua At I , , , ,074 Original B d t u age (348,757) (348,757) 1,091,243 Amended B d t u ge (348,757) (348,757 1,091,243 7-Month c ua At I 1,440,043 1,440, ,696 1,360 4, ,784 1,446, Proposed B d U IQet 3,603,694 3,603,694 7,000 3,610,694 (939,523) (939,523) 2,671, DISBURSEMENTS Personnel Services Executive Salaries Social Securitv Taxes Medicare Taxes Worker's Compensation Professional Services Manaaement Fees Engineering Services Leaal Services Tax Collector Fees Technoloav Services Other Professional Services Accounting & Auditing Auditina Services Other Contractual Services Svstems Manaaement Support Payroll Services Misc Contractual Services Travel & Per Diem Travel & Per Diem Comm.& Freight Service Postaae Utilities Services Electricity lrrii:iation Water Insurance Casualty & Liability lnsuran Repairs & Maintenance Services Buildini:i/Structure Maintenan Landscape Maint.- Recurrini:i Landscape Maint.-Non-Recurri lrrii:iation Repair Other Maintenance Printing & Binding Printina & Bindina Other Current Chg & Obligation Bank Chari:ies Permits & Licenses Leaal Advertisina Proiect Wide Fees Misc Current Charaes Capital Out/av Other Uses Trans to Gen R&R TOTAL DISBURSEMENTS 10,358 9, ,474 73,536 2,993 2,945 4,250 4,250 2,224 1, ,302 31, ,905 2,905 2,554 2, ,003 2, ,762 15,114 14, , ,909 7,000 30,000 4,544 26,305 9, 9, , ,417 78,890 6,480 6,480 85, ,938 8, , , ,084 1,091,243 15,114 14, , ,909 7,000 30,000 4,544 26,305 9, 9, , ,417 78,890 6,480 6,480 85, ,938 8, , , ,084 1,091,243 4,325 4, ,952 63, ,249 28,801 2, ,750 6, ,068 42,612 2,456 6,107 6,107 8,285 7, , , ,560 15,114 14, , ,800 2,600 7,000 75,077 4,771 26,305 14, 14, ,840 89,840 55,000 6,820 6, ,996 76, ,246 14,950 21, 35,300 1,747, ,744, , ,000 2,671, /31/2018 5:53 PM

4 ANNUAL MAINTENANCE ASSESSMENT VILLAGE COMMUNITY DEVELOPMENT DISTRICT NO.12 ANNUAL MAINTENANCE ASSESSMENT 2017/ /2019 Maintenance Assessments Billed $ 1,,000 $ 3,753,848 New-Phase II Assessment Assessment Village Name Unit Acres # of Lots Per Lot Per Lot Phase I 1F $ $ Recr Tract D $ 3, , Recr Tract F $ F $ F $ Recr Tract E $ 1, , Hillsborough 4F $ Recr Tract D $ 3, , Hillsborough 5F $ Rec Tract N $ 1, , Lake Deaton 6F $ Hillsborough 7F $ Hillsborough 8F $ Hillsborough 9F $ Collier 10F $ Collier 11F $ Collier 12F $ Collier 13F $ Collier Bougainvillea $ Lake Deaton Sand Pine $ Lake Deaton Longleaf $ Lake Deale Hyacinth $ Lake Deaton Honeysuckle $ Spartina $ Lantana $ Tupelo $ Live Oak $ Magnolia $ Cypress $ Sweetgum $ Mockingbird $ Palmetto $ Swallowtail $ Sugarberry $ Phase II Total Phase I ,509 McClure 14V $ McClure 15V McClure 16V McClure 17V McClure 18V McClure 19V Marsh Bend 20V Marsh Bend 21V , Marsh Bend 22V Marsh Bend 23V Marsh Bend 24V , Marsh Bend 25V Marsh Bend 26V Marsh Bend 27V Marsh Bend 28V Marsh Bend 29V De Luna 30V , De Luna 31V /31/2018 6:20 PM

5 ANNUAL MAINTENANCE ASSESSMENT VILLAGE COMMUNITY DEVELOPMENT DISTRICT NO.12 ANNUAL MAINTENANCE ASSESSMENT 2017/ /2019 Maintenance Assessments Billed $ 1,,000 $ 3,753,848 New-Phase II Assessment Assessment Village Name Unit Acres #of Lots Per Lot Per Lot De Luna 32V Linden 33V Linden 34V Linden 35V Monarch Grove 36V Phase II Monarch Grove 37V Monarch Grove 38V Monarch Grove 39V Monarch Grove 40V Monarch Grove 41V Monarch Grove 42V Monarch Grove 43V Marsh Bend Ava Monarch Grove Blake Marsh Bend Cade McClure Carla Monarch Grove Chase De Luna Christopher Monarch Grove Cliff Monarch Grove Glenda McClure Haven Monarch Grove James Marsh Bend Kate McClure Keller McClure Laine Marsh Bend Lee Monarch Grove Lilly Marsh Bend Marja McClure Patricia Linden Preston Linden Rhett Marsh Bend Ryan Marsh Bend Samuel De Luna Tate Gregory Linden Taylor Boaz Willow Tree Rec Tract , River Bend Rec Tract Swallowtail Rec Tract , Total Phase II ,643 Grand Total 1, ,152 Budget Revenue {96%) $ 3,603, /31/2018 6:20 PM

6 VILLAGE COMMUNITY DEVELOPMENT DISTRICT District 12 Debt Service Fund 2016 Assessment Bonds FY Budget Object o es C d Actual SOURCES Special Assessments-Cap.lmprov 54,056 Debt Service Assessment(Req) Debt Service Assessment(Pre- 54,056 Interest 60,413 Int Income - USB 60,413 Debt Proceeds 6,508,903 Debt Proceeds-Debt Service F 6,508,903 TOTAL REVENUE 6,623,372 lnterfund Transfer Transfer In - Debt Service Budget Funding Sources (Add)/Use-Workinq Capital TOTAL SOURCES 6,623,372 Original Budget 1,186,188 1,086, ,000 45,000 45,000 1,231,188 1,051,291 1,051,291 2,282,479 Amended Budget 1,186,188 1,086, ,000 45,000 45,000 1,231,188 1,051,291 1,051,291 2,282,479 7-Month Actual 1,323,478 1,085, ,926 41,489 41,489 1,364,967 27,483 27,483 1,392, Proposed Budget 3,921,088 3,421,088,000 30,000 30,000 3,951,088 (53,963) (53,963 3,897, DISBURSEMENTS Professional Services Tax Collector Fees Accounting & Auditing 3, Accounting Services 3, Trustee Services Arbitraqe Services Debt Service 1,070,825 Principal Principal - Prepayment Interest 1,070,825 Miscellaneous Bond Expenses Other Uses 10,081 Transfer to Miscellaneous 10,081 TOTAL DISBURSEMENTS 1,084,406 22,629 22,629 17,200 3, 13, ,242, ,000 2,141,650 2,282,479 22,629 22,629 17,200 3, 13, ,242, ,000 2,141,650 2,282,479 21,711 21,711 18,215 3, 14, ,126,575 55,000 1,070, ,098,031 5,098,031 6,264,532 69,819 69,819 16,600 3, 13,100 3,810,706 1,170,000,000 2,139,706 3,897, /30/2018 6:09 PM

7 VILLAGE COMMUNITY DEVELOPMENT DISTRICT District 12- Debt Service Fund Assessment Bonds FY Budget Object o es C d SOURCES Soecial Assessments-Cap.lmorov Debt Service Assessment(Rea) Debt Service Assessment(Pre- Interest Int Income - USB Debt Proceeds Debt Proceeds-Debt Service F TOTAL REVENUE Budget Funding Sources (Add)/Use-Workina Capital TOTAL SOURCES At I c ua Original u 1aet B d Amended u Iaet B d 7-Month A ctua I 3,096 3,096 15,808,751 15,808,751 15,811,847 15,811, Proposed Budget 4,400,000 4,350,000 50,000 4,400,000 (32,450) (32,450 4,367, DISBURSEMENTS Accounting & Auditinr:, Accountina Services Trustee Services Arbitraae Services Debt Service Principal - Preoavment Interest Miscellaneous Bond Expenses TOTAL DISBURSEMENTS 14,700 13, ,352,850 50,000 4,301,850 4,367, /30/2018 6:35 PM

8 VILLAGE COMMUNITY DEVELOPMENT DISTRICT District 12 - Capital Projects Fund Assessment Bonds FY Budget Object C odes SOURCES Interest Int Income - USB Debt Proceeds Actual Original Budaet Amended Budaet 7-Month Actual 12,127 12,127 78,926,249 Debt Proceeds-Capital Projec 78,926,249 TOTAL REVENUE 78,938,376 Budget Funding Sources (Add)/Use-Workino Capital TOTAL SOURCES 78,938,376 DISBURSEMENTS Capital Out/av 16,110,726 Infrastructure 16,110,726 Debt Service 940,709 Miscellaneous Bond Expenses 940,709 TOTAL DISBURSEMENTS 17,051, Proposed Budaet 8 5/30/2018 6:35 PM

Annual Operating and Debt Service Budget

Annual Operating and Debt Service Budget Adopted August 17, 2018 Prepared By Operating Budget General Fund Budget REVENUES Interest - Investments 466 1,020 1,617 1,617 3,789 1,000 4,789 3,500 Special Assessments- Tax Collector 321,431 398,791