Lakeside Community Development District

Transcription

1 Lakeside Community Development District Lakesidecdd.org Approved Proposed Budget for Fiscal Year 2018/2019 Presented by: Rizzetta & Company, Inc Old Pasco Road Suite 100 Wesley Chapel, Florida Phone: rizzetta.com

2 Proposed Budget Lakeside Community Development District General Fund Fiscal Year 2018/2019 Chart of Accounts Classification Budget for 2018/ REVENUES 3 12 Interest Earnings 13 Interest Earnings $ - 14 Special Assessments 15 Tax Roll* $ 321, Off Roll* $ TOTAL REVENUES $ 321, TOTAL REVENUES AND BALANCE FORWARD $ 321, *Allocation of assessments between the Tax Roll and Off Roll EXPENDITURES - ADMINISTRATIVE Legislative 43 Supervisor Fees $ 4, Financial & Administrative 45 Administrative Services $ 4, District Management $ 14, District Engineer $ 7, Disclosure Report $ 5, Trustees Fees $ 7, Assessment Roll $ 5, Financial & Revenue Collections $ 5, Accounting Services $ 15, Auditing Services $ 4, Arbitrage Rebate Calculation $ - 59 Public Officials Liability Insurance $ 3, Legal Advertising $ 2, Dues, Licenses & Fees $ Tax Collector /Property Appraiser Fees $ Website Hosting, Maintenance, Backup (and $ 1, ) Legal Counsel 68 District Counsel $ 10, Administrative Subtotal $ 89, EXPENDITURES - FIELD OPERATIONS Law Enforcement 79 Deputy $ - 80 Police Liability and Workers Compensation $ - 90 Electric Utility Services 91 Utility Services $ 14, Stormwater Control 112 Stormwater Assessment $ Aquatic Maintenance $ 13, Lake/Pond Bank Maintenance $ Aquatic Plant Replacement $ Stormwater System Maintenance $ General Liability/Property Insurance $ 4, Entry & Walls Maintenance $ 2, Landscape Maintenance $ 113, Well Maintenance $ 5, Entry Monument Light Maintenance $ 2, Holiday Decorations $ Irrigation Maintenance $ 10, Landscape - Mulch & Annuals $ 30, Landscape Replacement Plants, Shrubs, Trees $ Miscellaneous Expense $ 2, Road & Street Facilities 158 Sidewalk Repair & Maintenance $ 17, Street Sign Repair & Replacement $ Roadway Repair & Maintenance $ 2, Contingency 219 Miscellaneous Fees $ Miscellaneous Contingency $ 17,000

3 Proposed Budget Lakeside Community Development District General Fund Fiscal Year 2018/2019 Chart of Accounts Classification Budget for 2018/ Capital Outlay $ Field Operations Subtotal $ 232, Contingency for County TRIM Notice TOTAL EXPENDITURES $ 321, EXCESS OF REVENUES OVER EXPENDITURES $ - 231

4 Budget Template Lakeside Community Development District Debt Service Fiscal Year 2018/2019 Chart of Accounts Classification Series 2015 Series 2018 Budget for 2018/2019 REVENUES Special Assessments Net Special Assessments $390, $343, $734, TOTAL REVENUES $390, $343, $734, EXPENDITURES Administrative Financial & Administrative Bank Fees $0.00 Debt Service Obligation $390, $343, $734, Administrative Subtotal $390, $343, $734, TOTAL EXPENDITURES $390, $343, $734, EXCESS OF REVENUES OVER EXPENDITURES $0.00 $0.00 $0.00 Pasco County Collection Costs (2%) and Early Payment Discounts (4%): 6.0% Gross assessments: $780, Notes: Tax Roll County Collection Costs and Early Payment Discouns are 6.0% of Tax Roll. Budgeted net of tax roll assessments. See Assessment Table.

5 LAKESIDE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019 O&M AND DEBT SERVICE ASSESSMENT SCHEDULE 2018/2019 O&M Budget $321, Balance Forward $ /2019 TOTAL O&M ASSESSMENT (NET) $321, Pasco County Collection Costs & 6% 6% $20, /2019 TOTAL O&M ASSESSMENT (GROSS) $341, /2018 O&M Budget $311, /2019 O&M Budget $321, Total Difference: $10, PER UNIT ANNUAL ASSESSMENT Proposed Increase / Decrease 2017/ /2019 $ % Series 2015 Debt Service - Villa $ $ $ % Operations/Maintenance - Villa $ $ $ % Total $1, $1, $ % Series 2015 Debt Service - Single Family 45' $ $ $ % Operations/Maintenance - Single Family 45' $ $ $ % Total $1, $1, $ % Series 2015 Debt Service - Single Family 55' $ $ $ % Operations/Maintenance - Single Family 55' $ $ $ % Total $1, $1, $ % Seriese 2015 Debt Service - Single Family 80' $1, $1, $ % Operations/Maintenance - Single Family 80' $ $ $ % Total $1, $1, $ % Series 2018 Debt Service - Villa $0.00 $ (1) (1) Operations/Maintenance - Villa $ $ $ % Total $ $1, Series 2018 Debt Service - Single Family 40' $0.00 $1, (1) (2) (1) (2) Operations/Maintenance - Single Family 40' $0.00 $ (2) (2) Total $0.00 $1, Series 2018 Debt Service - Single Family 55' $0.00 $1, (1) (1) Operations/Maintenance - Single Family 55' $ $ $ % Total $ $1, Series 2018 Debt Service - Single Family 60' $0.00 $1, (1) (2) (1) (2) Operations/Maintenance - Single Family 60' $0.00 $ (2) (2) Total $0.00 $1, Debt Service - Attached Carriage $0.00 $0.00 (3) (3) Operations/Maintenance - Attached Carriage $ $0.00 (3) (3) Total $ $0.00 (1) First assessments for Series 2018 to be collected for FY 2018/2019. (2) New product type. (3) Discontinued product type.

6 LAKESIDE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019 O&M AND DEBT SERVICE ASSESSMENT SCHEDULE (FLAT) TOTAL O&M BUDGET $321, BALANCE FORWARD $ /2019 TOTAL O&M ASSESSMENT (NET) $321, COLLECTION COSTS & EPD 6.0% $20, /2019 TOTAL O&M ASSESSMENT (GROSS) $341, UNITS ASSESSED SERIES 2015 SERIES 2018 ALLOCATION OF O&M ASSESSMENT PER LOT ANNUAL ASSESSMENT DEBT DEBT EAU TOTAL % TOTAL TOTAL SERIES 2015 SERIES 2018 LU LOT SIZE O&M SERVICE (1) SERVICE (2) FACTOR EAU's EAU's O&M BUDGET O&M DEBT SERVICE (3) DEBT SERVICE (4) TOTAL (5) 0 Increment 1 $0 $0 $0 Villa % $37, $ $ $0.00 $1, Single Family 45' % $65, $ $ $0.00 $1, Single Family 55' % $49, $ $ $0.00 $1, Single Family 80' % $25, $ $1, $0.00 $1, Increments 2 & 3 Carriage Villa % $50, $ $0.00 $ $1, Villa Single Family 40' % $50, $ $0.00 $1, $1, SF-Small Single Family 55' % $43, $ $0.00 $1, $1, Single Family 60' % $18, $ $0.00 $1, $1, % $341, LESS: Pasco County Collection Costs (2%) and Early Payment Discounts (4%): ($20,510.11) Net Revenue to be Collected: $321, (1) Reflects the number of total lots with Series 2015 debt outstanding. (2) Reflects the number of total lots with Series 2018 debt outstanding. (3) Annual debt service assessment per lot adopted in connection with the Series 2015 bond issue. Annual assessment includes principal, interest, Pasco County collection costs and early payment discounts. (4) Annual debt service assessment per lot adopted in connection with the Series 2018 bond issue. Annual assessment includes principal, interest, Pasco County collection costs and early payment discounts. (5) Annual assessment that will appear on November 2018 Pasco County property tax bill. Amount shown includes all applicable collection costs and early payment discounts (up to 4% if paid early).