DISTRICT #5 BUDGET WORKSHOP AGENDA

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DISTRICT #5 BUDGET WORKSHOP AGENDA May 7, 2018 1. FY18-19 Recommended Revenues 2. FY18-19 Recommended Expenditures 3. Capital Improvement Plan 4.

1 DISTRICT #5 BUDGET WORKSHOP AGENDA May 7, FY18-19 Recommended Revenues 2. FY18-19 Recommended Expenditures 3. Capital Improvement Plan 4. Working Capital/Reserve Balances 5. Maintenance Assessment Direction 6. Debt Service Funds 7. Next Regular Board Meeting: June 15, :00 a.m. - Approve Proposed 8. Supervisor Comments

2 VILLAGE COMMUNITY DEVELOPMENT DISTRICT District 5 FY Rec. vs. Rec. vs Object Codes Original 6-Month Requested Rec $ Change % Change SOURCES Special Assessments-Serv.Charg 3,006,143 2,907,616 2,907,616 2,809,453 2,907,616 2,907, Maintenance Assessment 3,006,143 2,907,616 2,907,616 2,809,453 2,907,616 2,907, Transportation 15,629 15,629 15,629 7,815 15,628 15,628 (1) 0% Sumter Co Road Agreement 15,629 15,629 15,629 7,815 15,628 15,628 (1) 0% Shared Revenues From Other Loc 10, Refund - General Fund - VCCD 10, Other General Government Chg & 1,677 1, Electric Reimbursement 1, Misc Revenue Interest 25,226 12,135 12,135 22,709 29,300 29,300 17, % Int Income - CFB ,101 2,000 2,000 1, % Int Income - Cash Equiv 23,875 12,000 12,000 20,644 25,000 25,000 13, % Interest Income-Tax Collecto ,300 2,300 2,300 #DIV/0! Net Inc(Dec) Fair Value Invest 232,255 35, FMIvT-Unrealized Gain/Loss 21,080 (13,235) FLGIT-Unrealized Gain/Loss 40,075 (20,281) LTP Unrealized Gain/Loss 171,100 68, TOTAL REVENUE 3,291,130 2,935,380 2,935,380 2,876,327 2,952,544 2,952,544 17,164 1% Interfund Transfer 291, , , , ,386 (621) 0% Transfer In - Debt Service 291, , , , ,386 (621) 0% Funding Sources (90,375) (70,539) (270,581) (270,581) (200,042) 284% (Add)/Use-Working Capital 203, ,468 22,805 22,805 (200,663) -90% (Add)/Use-Cap Proj Phase I (111,876) (111,876) (111,497) (111,497) 379 0% (Add)/Use-Cap Proj Phase II (182,131) (182,131) (181,889) (181,889) 242 0% TOTAL SOURCES 3,582,636 3,139,012 3,158,848 2,876,327 2,975,349 2,975,349 (183,499) -6% DISBURSEMENTS Personnel Services 10,793 17,269 17,269 4,911 17,269 17, Executive Salaries 10,000 16,000 16,000 4,544 16,000 16, Social Security Taxes Medicare Taxes Worker's Compensation Professional Services 320, , , , , ,893 14,849 5% Management Fees 177, , ,028 76, , ,231 15,203 10% Engineering Services 2,315 5,200 5,200 1,154 5,200 5, Legal Services 2,956 8,000 8,000 1,285 8,000 8, Tax Collector Fees 60,123 60,576 60,576 56,189 60,576 60, Deed Compliance Services 56,725 61,895 61,895 30,947 60,911 60,911 (984) -2% Technology Services 7,199 5,684 5,684 2,840 5,968 5, % Other Professional Services 13,879 13,661 13,661 6,358 14,007 14, % Accounting & Auditing 9,000 9,500 9,500 6,750 9,500 9, Auditing Services 9,000 9,500 9,500 6,750 9,500 9, Other Contractual Services 2, , % Systems Management Support 2, % Payroll Services Misc Contractual Services 211 8, Travel & Per Diem 5,000 5,000 5,000 5, Travel & Per Diem 5,000 5,000 5,000 5, Comm.& Freight Service Postage Utilities Services 219, , ,612 94, , ,507 (1,105) 0% Electricity 192, , ,865 81, , ,165 2,300 1% Irrigation Water 26,522 37,747 37,747 13,225 34,342 34,342 (3,405) -9% Rentals & Leases Equipment Rental Insurance 5,715 6,200 6,200 6,110 6,820 6, % Casualty & Liability Insuran 5,715 6,200 6,200 6,110 6,820 6, % Repairs & Maintenance Services 447, , , , , ,751 (39,916) -8% Equipment Maintenance Building/Structure Maintenan 17, , ,006 18,191 71,616 71,616 (28,390) -28% Landscape Maint.- Recurring 277, , , , , , Landscape Maint.-Non-Recurri 1,100 33,000 52,836 32,264 51,050 51,050 (1,786) -3% Irrigation Repair 10,416 14,000 14,000 2,610 12,604 12,604 (1,396) -10% Other Maintenance 141,326 48,270 48,270 45,062 39,926 39,926 (8,344) -17% Printing & Binding Printing & Binding /30/ :03 PM

3 VILLAGE COMMUNITY DEVELOPMENT DISTRICT District 5 FY Rec. vs. Rec. vs Object Codes Original 6-Month Requested Rec $ Change % Change Other Current Chg & Obligation 1,616,656 1,670,389 1,670, ,865 1,912,202 1,912, ,813 14% Permits & Licenses Legal Advertising 1,290 1,500 1, ,500 1, Project Wide Fees 1,615,191 1,668,639 1,668, ,321 1,910,452 1,910, ,813 14% Operating Supplies Operating Supplies Non-Capital Hardware/Softwar Capital Outlay 562, Infrastructure 562, Other Uses 475, , , ,008 (400,000) -100% Trans to Gen R&R 350, , , ,004 (350,000) -100% Trans to Oth Roads 125,000 50,000 50,000 25,004 (50,000) -100% TOTAL DISBURSEMENTS 3,669,656 3,139,012 3,158,848 1,551,383 2,975,349 2,975,349 (183,499) -6% 2 4/30/ :03 PM

4 110- Personnel Services Based on 16 meetings at $200 per supervisor per meeting District 5 Account Descriptions 311- Management Fees District's allocated portion of General Government expenses. 10% increase placeholder until the cost allocation process is completed in August Engineering Services Miscellaneous engineering services as needed, including Water Resource Management Legal Services Costs to have legal representation at board meetings and research conducted by the attorney on the Board's behalf Tax Collector Fees Fees charged by the county for collecting maintenance assessments. (2% of total assessment) 316- Deed Compliance Services The District's allocated portion of Community Standards determined by the number of deed restriction complaints and architectural review cases Technology Services District's allocated portion of General Government IT expenses. 5% increase placeholder until the cost allocation process is completed in August Other Professional Services Maxicom - Irrigation systems monitoring. PFM, US Bank & LTIP- Costs for investment management services Auditing Services Fees for external auditing firm to perform interim audits mid-year and final audits at year-end Systems Management Support Costs for providing District accounts and related online security to District Supervisors Payroll Services Fees for payroll processing for Board Supervisors Travel & Per Diem Supervisors to attend annual FASD conference Postage Mailing of the bond payoff letters to residents and other District-related mailings Electricity Electric costs for street lights, entry lighting and irrigation controls Irrigation Water Irrigation costs for cul-de-sacs and villa entry areas Equipment Rental Rental of equipment such as directional signs and pumps for moving water from flooded areas Casualty & Liability Insurance Insurance for property owned by the district; Liability insurance for the Board Supervisors Equipment Maintenance Miscellaneous repairs as needed 3

5 District 5 Account Descriptions 462- Building/Structure Maintenance Entry Wall Repairs Sidewalk maintenance throughout the district Sign repairs/replacement as needed Storm drain repairs Villa Entry Sign Painting CIP Items: Rejuvenator: Arlington, Bailey Ridge, Belmont, Broyhill, Collington, Edgefield, Hickory Grove, Latrobe, Lime Grove Mt. Pleasant, Rainey, Southern Oak, Sullivan Villa Wall Painting : Sunset Pointe, and Sunset Ridge 463- Landscape Maintenance Recurring Landscape contracts for mowing Right-of-Ways, Villas, Cul-de-Sacs, and common areas; keeping all areas weed free, fertilized and irrigated; 4 Annual change-outs per year. Pine straw - Changed out twice per year 464- Landscape Maintenance Non-Recurring Plant replacement as needed 468- Irrigation Repair Repairs on sprinkler heads, nozzles, and broken pipes 469- Other Maintenance Bee Prevention Light Sweeps - costs include bulb replacements, fixtures, and wiring for exterior landscape lights that go bad. Miscellaneous repairs Pressure Wash Villa Entries, Walls and Signs Tree trimming throughout the district for line of sight, safety and aesthetic reasons Villa entry solar lighting maintenance as needed 471- Printing & Binding Printing and binding 493- Permits & Licenses Annual license for Special Districts 497- Legal Advertising Public notices for board meetings, budget workshops, and assessment increases Project Wide Fees The district's allocated portion of expenses in the Project Wide Fund for common area maintenance 499- Miscellaneous Current Charges Recording fees paid to the county Operating Supplies Miscellaneous supplies such as nuts, bolts, light bulbs, etc Transfer to General R&R Funds transferred into the General R&R for future projects as identified in the Capital Improvement Plan Transfer to Other Rds. Funds transferred into the Road R&R for future villa road projects as identified in the Capital Improvement Plan. 4

6 District 5 CIP Reserve Usage FY17-18 FY18-19 FY19-20 FY20-21 FY21-22 Working Capital 462 Villa Wall Painting 31,102 2,878 16,750 88, Road Rejuvenator 63,082 57, ,184 60,687 16,750 88, General R&R Road R&R Restricted Capital Phase I Restricted Capital Phase II Annual Expenditures 94,184 60,687 16,750 88, Year Total Capital Improvement Plan Expenditures 260,436 5

7 DISTRICT # 5 PROJECT FUNDING SUMMARY ROADS WALL PROJECT TOTAL BY SOURCE Capital Maint. Capital Maint. OTHER TRF to R&R Operating $0 Working Capital $494,184 63,082 31, ,000 General R & R $0 Road R &R $0 - Restricted Cap Proj (2013A) $0 - Restricted Cap Proj (2013B) $0 - Operating $0 Working Capital $60,687 57,809 2,878 - General R & R $0 Road R &R $0 - Restricted Cap Proj (2013A) $0 - Restricted Cap Proj (2013B) $ Operating $0 Working Capital $16,750-16,750 - General R & R $0 Road R &R $0 - Restricted Cap Proj (2013A) $0 - Restricted Cap Proj (2013B) $ Operating $0 - Working Capital $88,519 88,519 - General R & R $0 Road R &R $0 - Restricted Cap Proj (2013A) $0 - Restricted Cap Proj (2013B) $ Operating $0 Working Capital $296 $296 - General R & R $0 Road R &R $0 Restricted Cap Proj (2013A) $0 Restricted Cap Proj (2013B) $0 TOTAL CIP FY BY EXPENSE TYPE $ - $ 120,891 $ - $ 139,545 $ - $ 400,000 Project Expense Capital/Maint. Recap Project Funding/Expense Recap Project Capital Maint. Total Funding Source Expense Road $0 $120,891 $120,891 Operating $0 Wall $0 $139,545 $139,545 Working Capital $260,436 Other $0 $0 $0 General R & R $0 Road R &R $0 Restricted Cap Proj (2013A) $0 Restricted Cap Proj (2013B) $0 FIVE YEAR TOTAL $0 $260,436 $260,436 TOTAL $260,436 6

8 DISTRICT # 5 CAPITAL IMPROVEMENT PLAN - ROADS VILLA Phase Recorded Date SQ YARDS Miles Latest Improvements Recommended Work Arlington Villas 1 Aug-03 4, Mill & Overlay FY16-17 Rejuvenate / Rejuvenate $4,151 Bellamy Villas 1 Sep-03 3, Mill & Overlay FY15-16 Rejuvenate / Rejuvenate $3,058 Belmont Villas 1 Aug-03 4, Mill & Overlay FY16-17 Rejuvenate / Rejuvenate $3,688 Broyhill Villas 1 Aug-03 4, Mill & Overlay FY16-17 Rejuvenate / Rejuvenate $4,171 Cherry Hill Villas 1 Jul-03 5, Mill & Overlay FY15-16 Rejuvenate / $4,533 Clayton Villas 1 Oct-03 4, Mill & Overlay FY15-16 Rejuvenate / $4,000 Clifton Villas 1 Jul-03 4, Mill & Overlay FY15-16 Rejuvenate / $4,034 Ezell Villas 1 Jul-03 6, Mill & Overlay FY15-16 Rejuvenate / $5,280 Heritage Villas 1 Jul-03 6, Mill & Overlay FY15-16 Rejuvenate / $5,063 Hialeah Villas 1 Nov-03 5, Mill & Overlay FY15-16 Rejuvenate / $4,351 Inglewood Villas 1 Jun-03 5, Mill & Overlay FY15-16 Rejuvenate / $4,567 Jasper Villas 1 Oct-03 4, Mill & Overlay FY15-16 Rejuvenate / $4,134 Latrobe Villas 1 Jul-03 6, Mill & Overlay FY16-17 Rejuvenate / Rejuvenate $5,752 Rainey Villas 1 Sep-03 5, Mill & Overlay FY16-17 Rejuvenate / Rejuvenate $4,696 Bailey Ridge Villas 2 Mar-04 4, Mill & Overlay FY16-17 Rejuvenate / Rejuvenate $3,058 Chesterfield Villas 2 Apr-04 4, Mill & Overlay FY15-16 Rejuvenate / $3,669 Collington Villas 2 Dec-03 5, Mill & Overlay FY16-17 Rejuvenate / Rejuvenate $4,636 Eagle Ridge Villas 2 Mar-04 5, Mill & Overlay FY15-16 Rejuvenate / $4,439 Edgefield Villas 2 May-04 4, Mill & Overlay FY16-17 Rejuvenate / Rejuvenate $3,615 Hickory Grove Villas 2 Mar-04 5, Mill & Overlay FY16-17 Rejuvenate / Rejuvenate $4,260 Lime Grove Villas 2 Mar-04 4, Mill & Overlay FY16-17 Rejuvenate / Rejuvenate $4,087 Mount Pleasant Villas 2 Mar-04 6, Mill & Overlay FY16-17 Rejuvenate / Rejuvenate $5,097 Mount Vernon Villas 2 Mar-04 4, Mill & Overlay FY15-16 Rejuvenate / $3,760 Southern Oak Villas 2 Dec-03 5, Mill & Overlay FY16-17 Rejuvenate / Rejuvenate $4,906 Sullivan Villas 2 Mar-04 4, Mill & Overlay FY16-17 Rejuvenate / Rejuvenate $4,192 Swainwood Villas 2 Jan-04 4, Mill & Overlay FY15-16 Rejuvenate / $3,857 *Mobilization - Micro Resurface *Mobilization - Rejuvenator $1,500 $1,500 VILLA TOTAL 133, $56,245 $57,809 $0 $0 $0 Laurel Manor Drive 8,139 Rejuvenator Rejuvenate / $6,837 $0 TOTAL ROADS DISTRICT # 5 141,355 $63,082 $57,809 $0 $0 $0 District #5 Capital CIP Costs $ - $0 $0 $0 $0 $0 District #5 Maintenance CIP Costs $ 120,891 $63,082 $57,809 $0 $0 $0 TOTAL DISTRICT #5 FY CIP COSTS $ 120,891 Capital Costs - Includes mill/overlay and micro resurfacing projects. Maintenance Costs - Includes rejuvenator projects and mill/overlay or micro resurfacing projects less than $10,000 Rejuvenator applied two years after mill/overlay and every five years thereafter. 7

9 DISTRICT # 5 WALL & ENTRY PAINTING Descripton/ LATEST MAJOR IMPROVEMENT RECOMMENDED WORK & METHODOLOGY Location Type Phase ARLINGTON VILLAS - UNIT 644 PERIMETER WALL - DURA TEC /16 EXTERIOR OF WALL PAINTED COST X SQ FT PLUS REPAIRS Paint / $3,619 BAILEY RIDGE - UNIT 658 PERIMETER WALL - DURA TEC /15 EXTERIOR OF WALL PAINTED COST X SQ FT PLUS REPAIRS Paint / $8,274 BELMONT VILLAS - UNIT 645 PERIMETER WALL - DURA TEC /13 EXTERIOR OF WALL PAINTED COST X SQ FT PLUS REPAIRS Paint / $5,467 BROYHILL VILLAS - UNIT 635 PERIMETER WALL - PVC 1 PVC - no painting or major maintenance CHERRY HILL VILLAS - UNIT 636 PERIMETER WALL - DURA TEC /15 EXTERIOR OF WALL PAINTED COST X SQ FT PLUS REPAIRS Paint / $5,394 CHESTERFIELD - UNIT 636 PERIMETER WALL - DURA TEC /16 EXTERIOR OF WALL PAINTED COST X SQ FT PLUS REPAIRS Paint / $1,672 CLIFTON VILLAS - UNIT 639 PERIMETER WALL - DURA TEC /15 EXTERIOR OF WALL PAINTED COST X SQ FT PLUS REPAIRS Paint / $5,728 EZELL VILLAS - UNIT 637 PERIMETER WALL - DURA TEC /16 EXTERIOR OF WALL PAINTED COST X SQ FT PLUS REPAIRS Paint / $10,021 HERITAGE VILLAS - UNIT 641 PERIMETER WALL - DURA TEC /16 EXTERIOR OF WALL PAINTED COST X SQ FT PLUS REPAIRS Paint / $7,800 HIALEAH VILLAS - UNIT 642 PERIMETER WALL - DURA TEC /16 EXTERIOR OF WALL PAINTED COST X SQ FT PLUS REPAIRS Paint / $4,560 INGLEWOOD VILLAS - UNIT 638 PERIMETER WALL - DURA TEC /16 EXTERIOR OF WALL PAINTED COST X SQ FT PLUS REPAIRS Paint / $8,799 JASPER VILLAS - UNIT 648 PERIMETER WALL - DURA TEC /16 EXTERIOR OF WALL PAINTED COST X SQ FT PLUS REPAIRS Paint / $7,532 LATROBE - UNIT 643 PERIMETER WALL - DURA TEC /16 EXTERIOR OF WALL PAINTED COST X SQ FT PLUS REPAIRS Paint / $10,256 LIME GROVE VILLAS - UNIT 655 PERIMETER WALL - DURA TEC /14 PAINTED COST X SQ FT PLUS REPAIRS Paint / $10,328 MT PLEASANT VILLAS - UNIT 656 PERIMETER WALL - DURA TEC /13 EXTERIOR OF WALL PAINTED COST X SQ FT PLUS REPAIRS Paint / $10,272 SULLIVAN VILLAS - UNIT 660 PERIMETER WALL - DURA TEC /16 EXTERIOR OF WALL PAINTED COST X SQ FT PLUS REPAIRS Paint / $7,700 UNIT 78 (Belvedere) PERIMETER WALL - DURA TEC /16 EXTERIOR OF WALL PAINTED COST X SQ FT PLUS REPAIRS Paint / $4,992 UNIT 81 (Bonnybrook) PERIMETER WALL - DURA TEC /15 EXTERIOR OF WALL PAINTED COST X SQ FT PLUS REPAIRS Paint / $2,056 In 101 Adjacent to Unit 74 WALL - RETENTION AREA /16 PAINTED COST X SQ FT PLUS REPAIRS Paint / $4,834 Belvedere Entry Entry Wall Sign - Stucco /16 EXTERIOR OF WALL PAINTED COST X SQ FT PLUS REPAIRS Paint / $672 Lynhaven/Ashland/Bonnybrook Entry Wall Sign - Stucco 2015/16 PAINTED COST X SQ FT PLUS REPAIRS Paint / $2,073 Bonnybrook Entry Wall Sign - Stucco /15 EXTERIOR OF WALL PAINTED COST X SQ FT PLUS REPAIRS Paint / $275 Lynhaven/Ashland Entry Wall Sign - Stucco 2015/16 PAINTED COST X SQ FT PLUS REPAIRS Paint / $850 Lynhaven/Ashland Entry Wall - Stucco 2015/16 PAINTED COST X SQ FT PLUS REPAIRS Paint / $3,227 Winifred Entry Wall Sign - Stucco /15 EXTERIOR OF WALL PAINTED COST X SQ FT PLUS REPAIRS Paint / $168 Sunset Pointe Entry Wall Sign - Stucco /17 PAINTED COST X SQ FT PLUS REPAIRS Paint / $2,716 Bridgeport Entry Wall Sign - Stucco 2015/16 PAINTED COST X SQ FT PLUS REPAIRS Paint / $627 Sunset Ridge Entry Wall Sign - Stucco 2013/14 PAINTED COST X SQ FT PLUS REPAIRS Paint / $162 Liberty Park Entry Wall Sign - Stucco /15 EXTERIOR OF WALL PAINTED COST X SQ FT PLUS REPAIRS Paint / $583 Liberty Park Entry Wall - Stucco /13 PAINTED & REPAIRS COST X SQ FT PLUS REPAIRS Paint / $5,035 St Charles Entry Wall Sign - Stucco 2015/16 EXTERIOR OF WALL PAINTED COST X SQ FT PLUS REPAIRS Paint / $1,918 St Charles Entry Wall - Stucco 2015/16 EXTERIOR OF WALL PAINTED COST X SQ FT PLUS REPAIRS Paint / $1,639 Belvedere/CR466 Entry Wall Sign - Hardyboard /16 PAINTED COST X SQ FT PLUS REPAIRS Paint / Rainey Trail Welcome Sign - Hardyboard 2016/17 PAINTED COST X SQ FT PLUS REPAIRS Paint / $296 GRAND TOTAL DISTRICT #5 WALL & ENTRY PAINTING $31,102 $2,878 $16,750 $88,519 $296 District #5 Capital Costs $0 $0 $0 $0 $0 $0 District #5 Maintenance Costs $139,545 $31,102 $2,878 $16,750 $88,519 $296 GRAND TOTAL FY $139,545 Walls painted every five years. PAINTING COST: $.50 Dura-Tec, Stucco $.50, $2.00 PVC, $.75 PVC Stack per Square Foot 8

10 DISTRICT # 5 - WORKING CAPITAL and R & R FUNDS BALANCES Working Capital Beginning Balance 2,688,668 2,465,200 2,442,395 2,434,380 2,325,159 Deposits 2,935,380 2,952,544 2,952,544 2,952,544 2,952,544 Expenditures - Operating 2,664,664 2,914,662 2,943,809 2,973,247 3,002,979 Capital Improvement Plan Expenditures 94,184 60,687 16,750 88, Transfer/ Deposit to R & R 400, Ending Balance 2,465,200 2,442,395 2,434,380 2,325,159 2,274,428 1) FY16-17 audited ending balance includes $118,826 Hurricane Irma expenses. 2) Per March 2018 Financial Statements there has been $15,537 spent for unbudgeted Hurricane Irma expenses. 3) Unrealized gain of $841,577 not included in FY17-18 Beginning Balance RESERVES General R & R Beginning Balance 5,892,200 6,242,200 6,242,200 6,242,200 6,242,200 Deposits 350, Capital Improvement Plan Expenditures Ending Balance 6,242,200 6,242,200 6,242,200 6,242,200 6,242,200 Villa Road R & R Beginning Balance 2,829,875 2,879,875 2,879,875 2,879,875 2,879,875 Deposits 50, Capital Improvement Plan Expenditures Ending Balance 2,879,875 2,879,875 2,879,875 2,879,875 2,879,875 Total Reserves & Working Capital 11,587,275 11,564,470 11,556,455 11,447,233 11,396,502 Restricted Cap Proj 2013A - Phase I Excess Revenue Beginning Balance 228, , , , ,423 Deposits 111, , , , ,979 Capital Improvement Plan Expenditures Ending Balance 340, , , , ,402 Restricted Cap Proj 2013B - Phase II Excess Revenue Beginning Balance 309, , , ,992 1,043,103 Deposits 182, , , , ,702 Capital Improvement Plan Expenditures Ending Balance 491, , ,992 1,043,103 1,224,805 FY17-18 Operations $ 2,758,848 3 Month 689,712 4 Month 919,616 9

11 VILLAGE COMMUNITY DEVELOPMENT DISTRICT NO. 5 ANNUAL MAINTENANCE ASSESSMENT FY 16/17 FY 17/18 FY 18/19 Maintenance Assessments Billed: 3,122,440 3,028,767 3,028,767 Village Name Unit Acres # Lots 0% -3% 0% Phase #1 Winifred $ $ $ Winifred 70 Rec Tr c , , , Winifred Lake Miona , , , Bonnybrook Bonnybrook Bonnybrook Bonnybrook 75 Rec Tr B , , , Bonnybrook 75 Rec Tr C Belvedere Belvedere Belvedere Belvedere Belvedere 79 Rec Tr B , , , Belvedere Bonnybrook Ashland Ashland Ashland Ashland Belvedere Arlington Ashland Bellamy Ashland Bellamy Rec Tract C , , , Belvedere Belmont Bonnybrook Broyhill Belvedere Cherry Hill Ashland Clayton Bonnybrook Clifton Bonnybrook Ezell Bonnybrook Heritage Belvedere Hialeah Bonnybrook Inglewood Ashland Jasper Winifred Latrobe Ashland Rainey Total Phase # ,163 Phase #2 Lynnhaven $ $ $ Lynnhaven Lynnhaven Lynnhaven Lynnhaven Sunset Pointe Sunset Pointe 90 Rec Tr H , , , Sunset Pointe Sunset Pointe Sunset Pointe Sunset Pointe 93 Rec Tr B Sunset Pointe , , , Poinciana Poinciana 95 Rec Tr A & C , , , Liberty Park Liberty Park 96 Rec Tr A , , , Liberty Park Liberty Park Poinciana Poinciana Lake Miona , , , Poinciana Bailey Ridge Liberty Park Chesterfield Lynnhaven Collington Liberty Park Eagle Ridge Liberty Park Edgefield Sunset Pointe Hickory Grove Poinciana Lime Grove Poinciana Mount Pleasant Liberty Park Mount Vernon Lynnhaven Southern Oaks Poinciana Sullivan Lynnhaven Swainwood Total Phase # ,245 Grand Total 1, ,408 BUDGET REVENUE (96%) $ 2,907,616 Tax Collector (2%) $ 60,576 10

12 VILLAGE COMMUNITY DEVELOPMENT DISTRICT District 5 - Debt Service Fund A Assessment Refunding Bonds FY Object Codes Original 6-Month Requested Rec SOURCES Special Assessments-Cap.Improv 1,321,842 1,342,452 1,342,452 1,227,316 1,312,182 1,312, Debt Service Assessment(Reg) 1,115,531 1,092,452 1,092,452 1,039,553 1,062,182 1,062, Debt Service Assessment(Pre- 206, , , , , , Interest 7, ,004 6,000 6, Int Income - USB 7, ,004 6,000 6, TOTAL REVENUE 1,329,436 1,342,952 1,342,952 1,232,320 1,318,182 1,318, Funding Sources 34,635 34,635 42,366 42, (Add)/Use-Working Capital 34,635 34,635 42,366 42, TOTAL SOURCES 1,329,436 1,377,587 1,377,587 1,232,320 1,360,548 1,360,548 DISBURSEMENTS Professional Services 22,311 22,759 22,759 20,791 22,129 22, Tax Collector Fees 22,311 22,759 22,759 20,791 22,129 22, Accounting & Auditing 6,776 9,176 9,176 2,400 7,404 7, Accounting Services Trustee Services 6,276 6,276 6,276 6,904 6, Arbitrage Services 2,400 2,400 2, Debt Service 1,175,819 1,233,776 1,233, ,400 1,219,518 1,219, Principal 545, , , , , Principal - Prepayment 190, , , , , , Interest 440, , , , , , Miscellaneous Bond Expenses 250 1,000 1,000 1,000 1,000 1, Other Uses 116, , , , , Transfer Out to General Fund 116, , , , , TOTAL DISBURSEMENTS 1,321,875 1,377,587 1,377, ,591 1,360,548 1,360, /30/ :03 PM

13 DISTRICT #5-2013A ASSESSMENT REFUNDING BOND (Per FY16-17 Audit) Requested Recommd. Debt Service Beginning Balance 437, , ,775 Deposits 1,342,952 1,318,182 1,318,182 Expenditures 1,377,587 1,360,548 1,360,548 Ending Balance 437, , , ,409 12

14 VILLAGE COMMUNITY DEVELOPMENT DISTRICT District 5 - Debt Service Fund B Assessment Refunding Bonds FY Object Codes Original 6-Month Requested Rec SOURCES Special Assessments-Cap.Improv 1,971,031 2,022,227 2,022,227 1,790,168 1,969,246 1,969, Debt Service Assessment(Reg) 1,656,021 1,622,227 1,622,227 1,547,372 1,569,246 1,569, Debt Service Assessment(Pre- 315, , , , , , Interest 11,344 2,000 2,000 7,444 11,000 11, Int Income - USB 11,344 2,000 2,000 7,444 11,000 11, TOTAL REVENUE 1,982,375 2,024,227 2,024,227 1,797,612 1,980,246 1,980, Funding Sources 54,171 54,171 69,738 69, (Add)/Use-Working Capital 54,171 54,171 69,738 69, TOTAL SOURCES 1,982,375 2,078,398 2,078,398 1,797,612 2,049,984 2,049,984 DISBURSEMENTS Professional Services 33,120 33,796 33,796 30,770 32,693 32, Tax Collector Fees 33,120 33,796 33,796 30,770 32,693 32, Accounting & Auditing 9,303 11,703 11,703 2,400 10,184 10, Accounting Services Trustee Services 8,803 8,803 8,803 9,684 9, Arbitrage Services 2,400 2,400 2, Debt Service 1,858,025 1,850,768 1,850, ,578 1,825,218 1,825, Principal 780, , , , , Principal - Prepayment 395, , , , , , Interest 682, , , , , , Miscellaneous Bond Expenses 500 1,000 1,000 1,000 1,000 1, Other Uses 174, , , , , Transfer Out to General Fund 174, , , , , TOTAL DISBURSEMENTS 2,074,985 2,078,398 2,078, ,748 2,049,984 2,049, /30/ :03 PM

15 DISTRICT #5-2013B ASSESSMENT REFUNDING BOND (Per FY16-17 Audit) Requested Recommd. Debt Service Beginning Balance 677, , ,992 Deposits 2,024,227 1,980,246 1,980,246 Expenditures 2,078,398 2,049,984 2,049,984 Ending Balance 677, , , ,254 14

Annual Operating and Debt Service Budget

Annual Operating and Debt Service Budget (Adopted 08/23/2017) Prepared By Table of Contents Page OPERATING Summary of Revenues, Expenditures and Changes in Fund Balances 1-4 Budget Narrative 5-10 Exhibit