Lakeside Community Development District Lakesidecdd.org Approved Proposed Budget for Fiscal Year 2018/2019 Presented by: Rizzetta & Company, Inc. 5844 Old Pasco Road Suite 100 Wesley Chapel, Florida 33544 Phone: 813-994-1001 rizzetta.com
Proposed Budget Lakeside Community Development District General Fund Fiscal Year 2018/2019 Chart of Accounts Classification Budget for 2018/2019 1 2 REVENUES 3 12 Interest Earnings 13 Interest Earnings $ - 14 Special Assessments 15 Tax Roll* $ 321,325 17 Off Roll* $ - 31 32 TOTAL REVENUES $ 321,325 33 35 36 TOTAL REVENUES AND BALANCE FORWARD $ 321,325 37 38 *Allocation of assessments between the Tax Roll and Off Roll 39 40 EXPENDITURES - ADMINISTRATIVE 41 42 Legislative 43 Supervisor Fees $ 4,800 44 Financial & Administrative 45 Administrative Services $ 4,500 46 District Management $ 14,000 47 District Engineer $ 7,500 48 Disclosure Report $ 5,000 49 Trustees Fees $ 7,000 50 Assessment Roll $ 5,000 51 Financial & Revenue Collections $ 5,000 52 Accounting Services $ 15,000 53 Auditing Services $ 4,800 54 Arbitrage Rebate Calculation $ - 59 Public Officials Liability Insurance $ 3,000 60 Legal Advertising $ 2,000 62 Dues, Licenses & Fees $ 175 64 Tax Collector /Property Appraiser Fees $ 150 66 Website Hosting, Maintenance, Backup (and $ 1,200 67 Email) Legal Counsel 68 District Counsel $ 10,000 73 74 Administrative Subtotal $ 89,125 75 76 EXPENDITURES - FIELD OPERATIONS 77 78 Law Enforcement 79 Deputy $ - 80 Police Liability and Workers Compensation $ - 90 Electric Utility Services 91 Utility Services $ 14,000 111 Stormwater Control 112 Stormwater Assessment $ - 113 Aquatic Maintenance $ 13,200 115 Lake/Pond Bank Maintenance $ - 118 Aquatic Plant Replacement $ - 119 Stormwater System Maintenance $ - 130 General Liability/Property Insurance $ 4,000 134 Entry & Walls Maintenance $ 2,500 135 Landscape Maintenance $ 113,000 137 Well Maintenance $ 5,000 141 Entry Monument Light Maintenance $ 2,000 142 Holiday Decorations $ - 143 Irrigation Maintenance $ 10,000 145 Landscape - Mulch & Annuals $ 30,000 147 Landscape Replacement Plants, Shrubs, Trees $ - 151 Miscellaneous Expense $ 2,500 153 Road & Street Facilities 158 Sidewalk Repair & Maintenance $ 17,000 160 Street Sign Repair & Replacement $ - 161 Roadway Repair & Maintenance $ 2,000 218 Contingency 219 Miscellaneous Fees $ - 220 Miscellaneous Contingency $ 17,000
Proposed Budget Lakeside Community Development District General Fund Fiscal Year 2018/2019 Chart of Accounts Classification Budget for 2018/2019 222 Capital Outlay $ - 223 224 Field Operations Subtotal $ 232,200 225 226 Contingency for County TRIM Notice 227 228 TOTAL EXPENDITURES $ 321,325 229 230 EXCESS OF REVENUES OVER EXPENDITURES $ - 231
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 $390,844.61 $343,368.48 $734,213.09 TOTAL REVENUES $390,844.61 $343,368.48 $734,213.09 EXPENDITURES Administrative Financial & Administrative Bank Fees $0.00 Debt Service Obligation $390,844.61 $343,368.48 $734,213.09 Administrative Subtotal $390,844.61 $343,368.48 $734,213.09 TOTAL EXPENDITURES $390,844.61 $343,368.48 $734,213.09 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: $780,413.57 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.
LAKESIDE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019 O&M AND DEBT SERVICE ASSESSMENT SCHEDULE 2018/2019 O&M Budget $321,325.00 Balance Forward $0.00 2018/2019 TOTAL O&M ASSESSMENT (NET) $321,325.00 Pasco County Collection Costs & EPD @ 6% 6% $20,510.11 2018/2019 TOTAL O&M ASSESSMENT (GROSS) $341,835.11 2017/2018 O&M Budget $311,179.00 2018/2019 O&M Budget $321,325.00 Total Difference: $10,146.00 PER UNIT ANNUAL ASSESSMENT Proposed Increase / Decrease 2017/2018 2018/2019 $ % Series 2015 Debt Service - Villa $899.22 $899.22 $0.00 0.00% Operations/Maintenance - Villa $388.09 $439.38 $51.29 13.22% Total $1,287.31 $1,338.60 $51.29 3.98% Series 2015 Debt Service - Single Family 45' $999.13 $999.13 $0.00 0.00% Operations/Maintenance - Single Family 45' $388.09 $439.38 $51.29 13.22% Total $1,387.22 $1,438.51 $51.29 3.70% Series 2015 Debt Service - Single Family 55' $999.13 $999.13 $0.00 0.00% Operations/Maintenance - Single Family 55' $388.09 $439.38 $51.29 13.22% Total $1,387.22 $1,438.51 $51.29 3.70% Seriese 2015 Debt Service - Single Family 80' $1,298.87 $1,298.87 $0.00 0.00% Operations/Maintenance - Single Family 80' $388.09 $439.38 $51.29 13.22% Total $1,686.96 $1,738.25 $51.29 3.04% Series 2018 Debt Service - Villa $0.00 $900.00 (1) (1) Operations/Maintenance - Villa $388.09 $439.38 $51.29 13.22% Total $388.09 $1,339.38 Series 2018 Debt Service - Single Family 40' $0.00 $1,000.00 (1) (2) (1) (2) Operations/Maintenance - Single Family 40' $0.00 $439.38 (2) (2) Total $0.00 $1,439.38 Series 2018 Debt Service - Single Family 55' $0.00 $1,000.00 (1) (1) Operations/Maintenance - Single Family 55' $388.09 $439.38 $51.29 13.22% Total $388.09 $1,439.38 Series 2018 Debt Service - Single Family 60' $0.00 $1,125.00 (1) (2) (1) (2) Operations/Maintenance - Single Family 60' $0.00 $439.38 (2) (2) Total $0.00 $1,564.38 Debt Service - Attached Carriage $0.00 $0.00 (3) (3) Operations/Maintenance - Attached Carriage $388.09 $0.00 (3) (3) Total $388.09 $0.00 (1) First assessments for Series 2018 to be collected for FY 2018/2019. (2) New product type. (3) Discontinued product type.
LAKESIDE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019 O&M AND DEBT SERVICE ASSESSMENT SCHEDULE (FLAT) TOTAL O&M BUDGET $321,325.00 BALANCE FORWARD $0.00 2018/2019 TOTAL O&M ASSESSMENT (NET) $321,325.00 COLLECTION COSTS & EPD 6.0% $20,510.11 2018/2019 TOTAL O&M ASSESSMENT (GROSS) $341,835.11 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 86 86 0 1.00 86.00 11.05% $37,786.40 $439.38 $899.22 $0.00 $1,338.60 Single Family 45' 150 150 0 1.00 150.00 19.28% $65,906.51 $439.38 $999.13 $0.00 $1,438.51 Single Family 55' 113 113 0 1.00 113.00 14.52% $49,649.57 $439.38 $999.13 $0.00 $1,438.51 Single Family 80' 58 58 0 1.00 58.00 7.46% $25,483.85 $439.38 $1,298.87 $0.00 $1,738.25 Increments 2 & 3 Carriage Villa 114 0 114 1.00 114.00 14.65% $50,088.95 $439.38 $0.00 $900.00 $1,339.38 Villa Single Family 40' 114 0 114 1.00 114.00 14.65% $50,088.95 $439.38 $0.00 $1,000.00 $1,439.38 SF-Small Single Family 55' 100 0 100 1.00 100.00 12.85% $43,937.67 $439.38 $0.00 $1,000.00 $1,439.38 Single Family 60' 43 0 43 1.00 43.00 5.53% $18,893.20 $439.38 $0.00 $1,125.00 $1,564.38 778 407 371 778.00 100.00% $341,835.11 LESS: Pasco County Collection Costs (2%) and Early Payment Discounts (4%): ($20,510.11) Net Revenue to be Collected: $321,325.00 (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).