Candler Hills East
Community Development District
Amended Budget
FY 2016

Table of Contents

1

2-6

7

 	General Fund

 	General Fund Narrative

 	Capital Reserves Fund

	Candler Hills East		
	COMMUNITY DEVELOPMENT DISTRICT		
	GENERAL FUND		
	ADOPTED	AMENDED	PROJECTED	
	BUDGET	INCREASE/	BUDGET	TOTAL AS OF	
DESCRIPTION	FY2016	(DECREASE)	FY2016	9/30/16	
REVENUES:					
MAINTENANCE ASSESSMENTS	$105,046	$0	$105,046	$105,436	
INTEREST	$100	$0	$100	$45	
CARRY FORWARD SURPLUS	$0	$51,011	$51,011	$51,011	
TOTAL REVENUES	$105,146	$51,011	$156,157	$156,492	
EXPENDITURES:					
ADMINISTRATIVE:					
SUPERVISOR FEES	$4,000	$0	$4,000	$4,000	
FICA EXPENSE	$306	$0	$306	$230	
ENGINEERING	$2,200	$0	$2,200	$1,200	
TRUSTEE FEES	$2,050	$0	$2,050	$2,020	
DISSEMINATION	$3,500	$0	$3,500	$3,250	
ARBITRAGE	$600	$0	$600	$600	
ASSESSMENT ROLL	$5,000	$0	$5,000	$5,000	
ATTORNEY	$6,000	$0	$6,000	$6,000	
ANNUAL AUDIT	$3,800	$0	$3,800	$3,800	
MANAGEMENT FEES	$7,033	$0	$7,033	$7,033	
INFORMATION TECHNOLOGY	$1,000	$0	$1,000	$1,000	
TELEPHONE	$100	$0	$100	$25	
POSTAGE	$800	$0	$800	$700	
PRINTING & BINDING	$600	$50	$650	$650	
INSURANCE	$6,663	$0	$6,663	$5,923	
LEGAL ADVERTISING	$700	$100	$800	$800	
OTHER CURRENT CHARGES	$474	$0	$474	$330	
OFFICE SUPPLIES	$150	$0	$150	$150	
DUES, LICENSES & SUBSCRIPTIONS	$175	$0	$175	$175	
TOTAL ADMINISTRATIVE	$45,151	$150	$45,301	$42,886	

MAINTENANCE:
RETENTION PONDS/OWL PRESERVE DRA	
$49,995	
$0	
$49,995	
$49,995	
CONTINGENCIES	$10,000	($150)	$9,850	$5,000	
TRANSFER OUT	$0	$51,011	$51,011	$51,011	
TOTAL MAINTENANCE	$59,995	$50,861	$110,856	$106,006	
					
TOTAL EXPENDITURES	$105,146	$51,011	$156,157	$148,891	
					
EXCESS REVENUES (EXPENDITURES)	$0	$0	$0	$7,601	
Net Assessments	FY2013	FY2014	FY2015	FY2016	
Discounts & Collections (6%)	$142,961	$142,961	$141,677	$105,046	
Gross Assessments	$9,125	$9,125	$9,043	$6,705	
	$152,086	$152,086	$150,720	$111,751	
Total Units					
Assessments per Unit	$633	$633	$628	$628	
	$240	$240	$240	$178	

REVENUES:

Maintenance 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.

Interest
The District receives interest earnings from its cash balance in the SunTrust operating account.

Carry Forward Surplus
The District will utilize excess funds from prior fiscal years.

EXPENDITURES:

Administrative:

Supervisor Fees
The Florida Statutes allows each board member to receive $200 per meeting not to exceed $4,800 in one year. This amount is based on 5 Supervisors attending 4 monthly meetings.

FICA Expense
Represents the Employer's share of Social Security and Medicare taxes withheld from Board of Supervisors checks.
Engineering
The District’s engineer will be providing general engineering services to the District, e.g., attendance and preparation for monthly meetings, reviewing invoices, and various projects assigned as directed by the Board of Supervisors. The District currently has an agreement with Dewberry Engineers, Inc.
Trustee Fees
The District issued Series 2006 Special Assessment Bonds that are administered by a Trustee at USBank.

Dissemination
The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b) (5) which relates to additional reporting requirements for unrated bond issues.

Arbitrage
The District has contracted with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on the Series 2006 Special Assessment Bonds. The District has an agreement with Grau & Associates for this service.

Assessment Roll
Governmental Management Services – Central Florida, LLC serves as the District’s collection agent and certifies the District’s non-ad valorem assessments with the Marion County Tax Collector’s Office.

Attorney
The District’s legal counsel will be providing general legal services to the District, i.e., attendance and preparation for monthly meetings, review operating and maintenance contracts, etc. The District currently has an agreement with Gerald R. Colen, P.A.

Annual Audit
The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm.

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 are not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reporting, annual audits, etc.

Information Technology
The District incurs 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, checks for vendors 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 & public officials liability insurance policy is with Florida Insurance Alliance. The Florida Insurance Alliance specializes in providing insurance coverage to governmental agencies.

Legal Advertising
The District is required to advertise various notices for monthly Board meetings, public hearings, etc. in a newspaper of general circulation. The District does most of its legal advertising with Ocala Star-Banner.

Other Current Charges
Bank charges and any other miscellaneous expenses that are incurred during the 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, pens, paper clips, and other such office supplies.

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

MAINTENANCE:
Retention Ponds/Owl Preserve DRA
The District has contracted with Sharp Fence Construction, LLC to provide the following services:

Turf Maintenance
A. Turf areas unless otherwise speciﬁed will be mowed on a weekly basis in the growing season (April through October). During months not speciﬁed in the growing season (November through March) the turf  will be mowed at least twice a month unless abnormal conditions arise. Typical yearly mowing schedules will allow for 38 mowings per year.

Edging / String Trimming
A. Edging of all hard edges: Sidewalks, Driveways, Curb lines etc. adjacent to maintained property will be edged on a weekly basis during	the	growing	season	in	conjunction	with	the	maintenance schedule. All storm water culverts will be string trimmed on a weekly basis during the growing season in conjunction with the maintenance schedule to ensure vegetation will not obstruct discharge culvert area. Edging of all landscape beds will be done on a weekly basis to provide a crisp edge. Retention ponds with beds areas will be edged using mechanical equipment such as an edger, string trimmer. Herbicidal edging is will not be acceptable. Bed lines will be edged with the intent to keep the same original design and will be enlarged if plant material growth warrants.

Bed Maintenance
A. Beds are to be free of weeds, trash and other debris at all times. Pre- emergent and post—herbicidal applications may be used to help control weed growth but hand weeding will be done “as needed."

Mulch
A. Pine Straw mulch will be added twice per year in landscape bed areas.

Tree Maintenance, Pruning and Fertilization
A. Tree staking materials will be adjusted, tightened or removed to ensure proper growth.

Description	Monthly	Annually	
Retention Ponds/Owl Preserve	$4,166
TOTAL	$49,995	
	$49,995	

Contingencies
To record the cost of any maintenance expenses not properly classified in any of the other accounts.

Transfer Out
Funds transferred to the Capital Reserves Fund for any capital outlay related expenses.

Candler Hills East
COMMUNITY DEVELOPMENT DISTRICT CAPITAL RESERVES FUND

DESCRIPTION	ADOPTED BUDGET
FY2016	
INCREASE/ (DECREASE)	AMENDED BUDGET
FY2016	PROJECTED TOTAL AS OF
9/30/16	

REVENUES					
TRANSFER IN	$0	$51,011	$51,011	$51,011	
CARRY FORWARD SURPLUS	$150,021	($36,903)	$113,118	$113,118	
INTEREST	$0	$575	$575	$575	
TOTAL REVENUES	$150,021	$14,683	$164,704	$164,704	

EXPENDITURES					
CAPITAL OUTLAY	$0	$0	$0	$0	
TOTAL EXPENDITURES	$0	$0	$0	$0	
					
EXCESS REVENUES	$150,021	$14,683	$164,704	$164,704