Candler Hills East
Community Development District

Adopted Budget
FY2022

Table of Contents

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 	General Fund

 	General Fund Narrative

 	Capital Reserves Fund

 	Debt Service Fund - Series 2016

 	Amortization Schedule - Series 2016
Candler Hills East
Community Development District Adopted Budget
General Fund

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget		
Description	FY2021	6/30/21	3 Months	9/30/21	FY2022		

Revenues						
Maintenance Assessments	$	55,051	$	55,125	$	-	$	55,125	$	55,051	
Interest	$	25	$	8	$	6	$	14	$	25	
Carry Forward Surplus	$	-	$	4,878	$	-	$	4,878	$	-	
Total Revenues	$	55,076	$	60,011	$	6	$	60,017	$	55,076	

Expenditures						
General & Administrative						
Supervisor Fees	$	4,000	$	3,000	$	1,000	$	4,000	$	4,000	
FICA Expense	$	306	$	138	$	77	$	214	$	306	
Engineering	$	2,200	$	-	$	2,200	$	2,200	$	2,200	
Trustee Fees	$	2,050	$	2,020	$	30	$	2,050	$	2,050	
Dissemination	$	3,500	$	3,125	$	875	$	4,000	$	3,500	
Arbitrage	$	600	$	600	$	-	$	600	$	450	
Assessment Roll	$	5,000	$	5,000	$	-	$	5,000	$	5,000	
Attorney	$	6,000	$	-	$	6,000	$	6,000	$	6,000	
Annual Audit	$	3,325	$	3,325	$	-	$	3,325	$	3,415	
Management Fees	$	7,461	$	5,596	$	1,865	$	7,461	$	7,685	
Information Technology	$	600	$	450	$	150	$	600	$	800	
Website Maintenance	$	400	$	300	$	100	$	400	$	600	
Telephone	$	50	$	-	$	13	$	13	$	50	
Postage	$	1,000	$	103	$	250	$	353	$	1,000	
Printing & Binding	$	600	$	147	$	150	$	297	$	300	
Insurance	$	6,850	$	6,503	$	-	$	6,503	$	7,153	
Legal Advertising	$	700	$	-	$	700	$	700	$	700	
Other Current Charges	$	475	$	246	$	81	$	327	$	400	
Office Supplies	$	150	$	84	$	38	$	121	$	150	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total General & Administrative:	$	45,442	$	30,811	$	13,527	$	44,338	$	45,934	

Operations & Maintenance						
Mulch	$	-	$	3,023	$	3,023	$	6,045	$	6,045	
Contingency	$	9,634	$	-	$	9,634	$	9,634	$	3,097	
Total Operations & Maintenance:	$	9,634	$	3,023	$	12,657	$	15,679	$	9,142	
						
Total Expenditures	$	55,076	$	33,833	$	26,184	$	60,017	$	55,076	
						
Excess Revenues/(Expenditures)	$	-	$	26,178	$	(26,178)	$	-	$	-	

Net Assessments	

FY2019
$55,051	

FY2020
$55,051	

FY2021
$55,051	

FY2022
$55,051	
Discounts & Collections (6%) 		$3,514		$3,514		$3,514		$3,514	 Gross Assessments 	$58,565	$58,565	$58,565	$58,565	

Total Units 	628	628	628	628	 Assessments per Unit 	$93	$93	$93	$93	

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.

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 2016 Special Assessment Refunding Bonds that are administered by a Trustee at US Bank.

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. Governmental Management Services – CF, LLC is contracted for this service.

Arbitrage
The District has contracted with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on the Series 2016 Special Assessment Refunding Bonds.

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 Colen & Wagoner, P.A.

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 with Berger, Toombs, Elam, Gaines & Frank for this service.

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
Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, security, accounting software, etc.

Website Maintenance
Represents the costs associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc.

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:

Mulch
Costs related to mulch installed in the District.

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

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget		
Description	FY2021	6/30/21	3 Months	9/30/21	FY2022		

Revenues						
Interest Income	$	1,500	$	209	$	60	$	269	$	240	
Carryforward Surplus	$	169,748	$	169,700	$	-	$	169,700	$	159,269	
Total Revenues	$	171,248	$	169,909	$	60	$	169,969	$	159,509	

Expenditures						
Capital Outlay	$	-	$	10,700	$	-	$	10,700	$	-			
Total Expenditures	$	-	$	10,700	$	-	$	10,700	$	-			

Debt Service Fund Series 2016

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget		
Description	FY2021	6/30/21	3 Months	9/30/21	FY2022		

Revenues						
Assessments - Tax Roll	$	221,663	$	221,860	$	-	$	221,860	$	214,426	
Assessments - Prepayments	$	-	$	72,543	$	-	$	72,543	$	-	
Interest Income	$	100	$	13	$	6	$	19	$	-	
Carry Forward Surplus	$	414,776	$	264,588	$	-	$	264,588	$	240,773	
Total Revenues	$	636,539	$	559,004	$	6	$	559,010	$	455,198	

Expenditures						
General & Administrative:						
Special Call - 11/1	$	55,000	$	65,000	$	-	$	65,000	$	45,000	
Interest - 11/1	$	49,700	$	49,700	$	-	$	49,700	$	46,588	
Principal - 5/1	$	130,000	$	125,000	$	-	$	125,000	$	125,000	
Special Call - 5/1	$	-	$	30,000	$	-	$	30,000	$	-	
Interest - 5/1	$	49,700	$	48,538	$	-	$	48,538	$	46,588	
Total Expenditures	$	284,400	$	318,238	$	-	$	318,238	$	263,175	
						
Excess Revenues/(Expenditures)	$	352,139	$	240,767	$	6	$	240,773	$	192,023	
				
Nov 1, 2022	
$45,181	

Discounts	
Net Assessments
&  Collections (6%)  		
$214,426
$13,687 	
Gross Assessments	$228,113					

Total Units 	414.75 						
Assessments per Unit 	$550 
	Series 2016 Special Assessment Bonds Amortization Schedule				
Date	Balance	Prinicpal	Interest	Total			
					
11/01/21	$	2,555,000.00	$	-	$	46,587.50	$	93,175.00			
05/01/22	$	2,555,000.00	$	125,000.00	$	46,587.50				
11/01/22	$	2,430,000.00	$	-	$	45,181.25	$	216,768.75			
05/01/23	$	2,430,000.00	$	130,000.00	$	45,181.25				
11/01/23	$	2,300,000.00	$	-	$	43,556.25	$	218,737.50			
05/01/24	$	2,300,000.00	$	135,000.00	$	43,556.25				
11/01/24	$	2,165,000.00	$	-	$	41,700.00	$	220,256.25			
05/01/25	$	2,165,000.00	$	90,000.00	$	41,700.00				
11/01/25	$	2,075,000.00	$	-	$	40,350.00	$	172,050.00			
05/01/26	$	2,075,000.00	$	140,000.00	$	40,350.00				
11/01/26	$	1,935,000.00	$	-	$	37,725.00	$	218,075.00			
05/01/27	$	1,935,000.00	$	145,000.00	$	37,725.00				
11/01/27	$	1,790,000.00	$	-	$	35,006.25	$	217,731.25			
05/01/28	$	1,790,000.00	$	150,000.00	$	35,006.25				
11/01/28	$	1,640,000.00	$	-	$	32,193.75	$	217,200.00			
05/01/29	$	1,640,000.00	$	155,000.00	$	32,193.75				
11/01/29	$	1,485,000.00	$	-	$	29,287.50	$	216,481.25			
05/01/30	$	1,485,000.00	$	160,000.00	$	29,287.50				
11/01/30	$	1,325,000.00	$	-	$	26,287.50	$	215,575.00			
05/01/31	$	1,325,000.00	$	170,000.00	$	26,287.50				
11/01/31	$	1,155,000.00	$	-	$	23,100.00	$	219,387.50			
05/01/32	$	1,155,000.00	$	175,000.00	$	23,100.00				
11/01/32	$	980,000.00	$	-	$	19,600.00	$	217,700.00			
05/01/33	$	980,000.00	$	180,000.00	$	19,600.00				
11/01/33	$	800,000.00	$	-	$	16,000.00	$	215,600.00			
05/01/34	$	800,000.00	$	190,000.00	$	16,000.00				
11/01/34	$	610,000.00	$	-	$	12,200.00	$	218,200.00			
05/01/35	$	610,000.00	$	195,000.00	$	12,200.00			
11/01/35	$	415,000.00	$	-	$	8,300.00	$	215,500.00			
05/01/36	$	415,000.00	$	205,000.00	$	8,300.00			
11/01/36	$	210,000.00	$	-	$	4,200.00	$	217,500.00	
05/01/37	$	210,000.00	$	210,000.00	$	4,200.00	$	214,200.00	
		$	2,555,000.00	$	969,137.50	$	3,524,137.50