Amended Operating Budget Fiscal Year 2010

Transcription

1 Amended Operating As Revised August 4,

2 Amended Operating Table of Contents Section 1: Introduction Section 2: Operating Fund Balance Projections Section 3: Operating Comparative Analysis Section 4: General Fund 001 Descriptions Section 5: Debt Service Fund 200 Section 6: Schedule of Annual Assessments

3 Preserve at Wilderness Lake Introduction Background Information The Preserve at Wilderness Lake is a local special purpose government authorized by Chapter 190, Florida Statutes, as amended. The (CDD) is an alternative method for planning, financing, acquiring, operating and maintaining communitywide infrastructure in master planned communities. The CDD also is a mechanism that provides a solution to the State s needs for delivery of capital infrastructure to service projected growth without overburdening other governments and their taxpayers. CDD s represent a major advancement in Florida s effort to manage its growth effectively and efficiently. This allows the community to set a higher standard for construction along with providing a longterm solution to the operation and maintenance of community facilities. The following report represents the District budget for, which begins on October 1, The District budget is organized by fund to segregate financial resources and ensure that the segregated resources 6/14/2007are used for their intended purpose, and the District has established the following funds. Fund Number Fund Name Services Provided 001 General Fund Operations and Maintenance of Community Facilities Financed by NonAd Valorem Assessments 200 Debt Service Fund Collection of Special Assessments for Debt Service on the Series 2006 Special Assessment Revenue Bonds Facilities of the District The District s existing facilities include stormwater management (lake and water control structures), wetland preserve areas, landscaping, entry signage & features, irrigation distribution facilities and other related public improvements. Maintenance of the Facilities In order to maintain the facilities, the District conducts hearings to adopt an operating budget each year. This budget includes a detailed description of the maintenance program along with an estimate of the cost of the program. The funding of the maintenance budget is levied as a nonad valorem assessment on your property by the District Board of Supervisors. Introduction Section 1

4 Amended Operating General Fund Fiscal Year 2009 Amended Operating 0.12 Amended Operating Increase / (Decrease) from FY 2009 Amended to FY 2010 Revenues Carry Forward Fund Balance Carry Forward Fund Balance Interest Earnings Interest Earnings 5,052 7,000 1,948 Special Assessments O&M AssmtsTax Roll 1,577,351 1,577,351 0 Contributions & Donations From Private Sources Miscellaneous 20,000 20,000 Other Miscellaneous Revenues Transfer from Designated Reserve 67,800 93,600 25,800 Resident ID Cards 3,500 3,500 Sponsorships 12,910 12,910 Transfer from Excess Bond Reserves 36,000 (36,000) Concessions & Events 15,000 26,585 11,585 Rental Revenue 2,700 6,000 3,300 Total Revenues $ 1,703,903 $ 1,746,946 $ 43,043 Expenditures Legislative Supervisor Fees 9,400 13,000 3,600 Total Legislative $ 9,400 $ 13,000 $ 3,600 Financial & Administrative Field Administrative Services 8,303 8, District Manager 33,108 33, District Engineer 5,000 8,000 3,000 Disclosure Report 2,000 2,000 Trustee Fees 7,966 8, Financial Advisory Services 4,581 (4,581) Accounting Services 22,991 27,707 4,716 Auditing Services 11,500 7,800 (3,700) Arbitrage Rebate Calculation 5,700 3,100 (2,600) Travel Per Diem Postage, Phone, Faxes, Copies 1,500 1,500 Professional Liability Insurance 3,744 4, Legal Advertising 1,100 1, Bank Fees 1,100 1, Dues, Licenses & Fees (14) Miscellaneous Fees 317 (317) Technology Services 17,675 2,500 (15,175) Website Hosting 2, (1,200) Total Financial & Administrative $ 129,199 $ 110,576 $ (18,623) Legal Counsel District Counsel 8,000 8,000 Total Legal Counsel $ 8,000 $ 8,000 $ Public Safety Contracted Services 110, ,868 32,868 Capital Leasing Program (Cameras) Total Public Safety $ 110,000 $ 142,868 $ 32,868 Electric Utility Services Electric Utility Services 175, ,000 10,000 Total Electric Utility Services $ 175,000 $ 185,000 $ 10,000 Gas Utility Services Gas Utility Services 22,000 25,000 3,000 Total Gas Utility Services $ 22,000 $ 25,000 $ 3,000 Garbage/Solid Waste Control Services Solid Waste Service 2,347 2, Total Garbage/Solid Waste Control Services $ 2,347 $ 2,800 $ 453 WaterSewer Combination Services Water Utility Services 25,000 28,000 3,000 Total WaterSewer Combination Services $ 25,000 $ 28,000 $ 3,000 Prepared By: General Fund Section 2

5 Amended Operating General Fund Fiscal Year 2009 Amended Operating 0.12 Amended Operating Increase / (Decrease) from FY 2009 Amended to FY 2010 Other Physical Environment Property & Casualty Insurance 44,330 41,004 (3,326) Entry & Walls Maintenance 3,500 3,500 Plant Replacement Program 16,000 30,000 14,000 Roadway Fence Repair/Replace 35,000 5,000 (30,000) Contingency Landscape 6,000 10,000 4,000 Landscape Turf 160, , Landscape Edging 18,163 17,874 (289) Landscape Fertilization 6,010 6, Landscape Weed Control 1,842 1,550 (292) Landscape Insect and Pest Control 1,842 1,550 (292) Landscape Disease Control 1,842 1,550 (292) Landscape Shrub and Tree Fertilization 1,842 1,550 (292) Landscape Pruning 4,561 5, Landscape Irrigation & Sprinklers 36,760 23,000 (13,760) Landscape Special Requirements 52,492 52, Non Ad Valorem Property Taxes 1,336 1, Brick Pavers Maintenance 8,000 3,500 (4,500) Lake and Wetland Management Contract 42,720 47,220 4,500 Lake and Wetland Management Other 5,000 (5,000) Lake and Wetland Management Erosion Control 25,000 12,000 (13,000) Total Other Physical Environment $ 472,994 $ 425,762 $ (47,233) Road & Street Facilities Street Light Maintenance 5,000 4,000 (1,000) Pavement and Signage Repairs 10,500 5,000 (5,500) Street Sweeping/Cleaning 2,100 2,000 (100) Total Road & Street Facilities $ 17,600 $ 11,000 $ (6,600) Parks & Recreation Staff Salaries 210, , ,165 Staff Taxes & Workers Comp 26,049 43,335 17,286 Staff Benefits & Administration Costs 6,317 10,672 4,355 Human Resources & Industry Training 1,442 1,200 (242) General Office Supplies 6,154 2,500 (3,654) Lodge Facilities Repairs & Maintenance 168, ,600 (66,883) Equipment Rental/Leasing 1,596 2, Bulbs and Lighting 4,555 5, Fitness Equipment Maintenance 5,379 4,960 (419) Spa Supplies 2,576 3, Mileage and Gas 3,000 2,500 (500) Technology Upgrades & Maintenance 3,200 3,200 Nature Center Operations 8,000 6,000 (2,000) Security System & Access Control 4,067 3,480 (587) Pool/Spa Licensing 1,255 1, Lodge Phone, Fax & Internet 10,425 13,000 2,575 Pool/Spa Maintenance Contract 26,000 25,740 (260) Pool/Spa Maintenance Other 20,000 11,840 (8,160) Lodge Cleaning & Supplies 19,757 7,000 (12,757) Contingency Lodge Expense 1,955 (1,955) Holiday Décor 10,619 10,000 (619) Resident Newsletters 16,411 10,080 (6,331) Resident ID Cards 3,500 3,500 Community Guide Books 500 1, Resident Hospitality Services 4,000 (4,000) Holiday Entertainment 3,086 (3,086) Concessions & Free Events 6,215 6,215 Resident Event Supplies 2,365 26,000 23,635 Park Facility Maintenance 20,000 5,000 (15,000) Lodge Furniture, Fixtures & Equipment 19,199 17,075 (2,124) Total Parks & Recreation $ 610,463 $ 683,137 $ 72,674 Reserves Capital Assets Reserves 121, ,803 (10,097) Total Reserves $ 121,900 $ 111,803 $ (10,097) Total Expenditures $ 1,703,903 $ 1,746,946 $ 43,043 Excess of Revenues Over (Under) Expenditures $ (0) $ (0) $ 0 Prepared By: General Fund Section 2

6 Annual Operating Comparative Analysis $690,000 $660,000 $630,000 $600,000 $570,000 $540,000 $510,000 $480,000 $450,000 $420,000 $390,000 $360,000 $330,000 $300,000 $270,000 $240,000 $210,000 $180,000 $150,000 $120,000 $90,000 $60,000 $30,000 $ $13,000 $9,400 $129,199 $110,576 $8,000 $8,000 $142,868 $110,000 $185,000 $175,000 $25,000 $22,000 $2,800 $2,347 $28,000 $25,000 $425,762 $472,994 $11,000 $17,600 $683,137 $610,463 $121,900 $111,803 Amended Operating Fiscal Year 2009 Amended Operating Total Legislative Total Financial & Administrative Total Legal Counsel Total Public Safety Total Electric Utility Services Total Gas Utility Services Total Garbage/Solid Waste Control Services Total WaterSewer Combination Services Total Other Physical Environment Total Road & Street Facilities Total Parks & Recreation Total Reserves Operating Comparative Analysis Section 3

7 Legislative Supervisor's Fees Financial & Administrative Field Administrative Services The Preserve at Wilderness Lake General Fund Descriptions The amount paid to each Supervisor for the time devoted to the District business and monthly meetings. The amount permitted is $ per meeting for each member of the Board. The Field Manager is responsible for the daytoday field operations. These responsibilities include, but are not limited to, preparing and bidding of services and commodities, contract administration, hiring and maintaining qualified personnel, preparation of and implementation of operating schedules and policies, insuring compliance with all operating permits, prepare and implement field operating budgets, provide information/education to public regarding District programs. The fee for this service is reviewed annually. District Manager The District retains the services of a consulting manager, who is responsible for the daily administration of the District's business, including any and all financial work related to the Bond Funds and Operating Funds of the District, and preparation of the minutes of the Board of Supervisors. In addition, the District Manager prepares the Annual (s), implements all policies of the Board of Supervisors, and attends all meetings of the Board of Supervisors. District Engineer Consists of attendance at scheduled meetings of the Board of Supervisors, offering advice and consultation on all matters related to the works of the District, such as bids for yearly contracts, operating policy, compliance with regulatory permits, etc.. Disclosure Report This is required of the District as part of the bond indentures. Trustee Fees This is required of the District as part of the bond indentures. Financial Advisory Services As part of the consulting managers contract, the District retains Financial Advisory Services to maintain & prepare the annual tax roll, manage bond funds and bond calls, facilitate the completion of the annual arbitrage report and maintain compliance with the trust indentures for all bond issues. Accounting Services As part of the consulting managers contract, the District retains Accounting Services to process invoices, prepare financial statements, coordinate and compile documents for the annual audit, coordinate and manage employee salaries and benefits and record the District's transactions in compliance with governmental accounting standards. Auditing Services The District is required to annually undertake an independent examination of its books, records and accounting procedures. This audit is conducted pursuant to State Law and the Rules of the Auditor General. Arbitrage Rebate Calculation This is required of the District as part of the bond indentures. Travel Per Diem This applies at the current rate of mileage reimbursement for official District business. General Fund 001 Descriptions Section 4

8 General Fund Descriptions Postage, Phone, Fax, Copies Cost of materials and service to produce agendas and conduct daytoday business of the District. Professional Liability Insurance The District carries Public Officials Liability in the amount of $1,000,000. Legal Advertising This is required to conduct the official business of the District in accordance with the Sunshine Law and other advertisement requirements as indicated by the Florida Statutes. Bank Fees The District operates a checking account for expenditures and receipts. Dues, Licenses & Fees The District is required to file with the County and State each year. Miscellaneous Fees This relates to miscellaneous expenditures not captured within other expense categories contained within the budget. Technology Services This is to contribute to the cost of the management s operating components to comply with new governmental accounting standards as well as other programs which serve the District s needs. Website Hosting This is for maintenance and administration of the Districts official website. Legal Counsel District Counsel Requirements for legal services are estimated annual expenditures on an as needed basis and also cover such items as attendance at scheduled meetings of the Board of Supervisor's, contract preparation and review, etc. Public Safety Contracted Services This item is for the contractual service of the Sheriffs office or a private vendor to provide random patrols of the District assets and the community as a whole. Electric Utility Services Electric Utilities This item is for street lights, pool, recreation facility and other common element electricity needs. Gas Utility Services Gas Utilities This item is for common element gas utility needs. Garbage/Solid Waste Control Services Solid Waste Service Solid waste assessment on the annual property tax bill for CDD lands. Water/Sewer Combination Services Water Utility Services This item is for the potable and nonpotable water used for irrigation, recreation facility and the pool. Other Physical Environment Property & Casualty Insurance The District carries $1,000,000 in general liability and also has sovereign immunity. General Fund 001 Descriptions Section 4

9 General Fund Descriptions Entry & Wall Maintenance This item is for maintaining the main entry feature and other common area walls & monuments. Plant Replacement Program This item is for landscape items that may need to be replaced during the year. Roadway Fence Repair/Replace This item is for the repair and replacement of fences in the common areas of the District. Contingency Landscaping This item is for any unforeseen circumstances that may effect the appearance of the landscape program. To include removal of dead material, enhancements, or repairs due to storm damage or diseases. Landscape Turf This item is for mowing of sod and removal of debris. Landscape Edging This item is for mechanical edging of all turf grass areas next to curbs, streets, sidewalks, bike paths, beds, lakes and borders shall be done at least every mowing to prevent grass encroachment and removal of debris. Landscape Fertilization This item is for fertilizing turf and soil testing twice a month. Landscape Weed Control This item is for weeding of all turf and beds. Landscape Insect and Pest Control This item is for treatment for insects and pests for sod, trees and plants. Landscape Disease Control This item is for treatment to prevent disease for sod, trees and plants. Landscape Shrub and Tree Fertilization The contractor shall fertilize all trees, palms, shrubs, ground covers and annuals to maintain them in a healthy growing condition, free from symptoms of nutritional deficiency or undesirable appearance. Landscape Pruning This item shall be performed as required to maintain the natural shape and characteristics of the plant species. Landscape Irrigation & Sprinklers This item is for inspection and maintenance of the complete irrigation system. Landscape Special Requirements This item is for tree bracing, mulch, seasonal planting, ornamental grass pruning, palm pruning, tree pruning, weeding, frost protection, soil bed preparation and monthly tours. Non Ad Valorem Property Taxes County imposed assessments applicable to tax exempt properties. Brick Paver Maintenance This item is for maintenance of existing brick pavers. Lake & Wetland Management Contract This item is for the contract that maintains the multiple waterways that compose the District's waterway management system and aids in controlling nuisance vegetation that may otherwise restrict the flow of water. Lake & Wetland Management Other This category is for the unforeseen items that are not under contract to maintain the multiple waterways in the District. General Fund 001 Descriptions Section 4

10 General Fund Descriptions Lake & Wetland Management Erosion Control This category is for the erosion issues that are not under contract that may occur along the banks of the multiple waterways in the District. Road & Street Facilities Street Light Maintenance This item provides for maintenance and repairs of the street lights and decorative lighting throughout the District. Pavement and Signage Repairs This item provides for maintenance and repairs of the signage throughout the District. Street Sweeping/Cleaning This item provides for cleaning of the District roadways. Parks & Recreation Staff Salaries Intended to fund full and part time staff to; manage the club facilities, assist in coordinating and identifying maintenance issues, assist residents, enforce District policy & procedure, plan events, and facilitate an overall sense of community in the District. Staff Taxes & Workers Comp Employeer share of payroll taxes, federal and state unemployment and mandated workers compensation insurance. Staff Benefits & Administration Costs Employer contribution for employee health insurance. Payroll and employee management services fees. HR & Industry Training This item is intended to provide funds for onsite management to update HR skills and allow for drug and background screening of District employees. General Office Supplies This item is intended to provide funds for lodge office supplies needed by onsite needed to carry on daily operations. Lodge Facilities Repairs & Maintenance This item is to provide for the general repairs and maintenance of the lodge facility. Equipment Rental/Leasing This item is intended to provide funds for renting equipment needed to carry on general repairs, maintenance, and holiday decorating of the lodge facility. Bulbs & Lighting This item is intended to provide funds for replacing bulbs for lighting the lodge facility. Fitness Equipment Maintenance This item is intended to provide funds for maintain the fitness equipment in the lodge facility. Spa Supplies Supplies necessary to operate and maintain the spa facility. Mileage & Gas This item is intended to provide funds for mileage reimbursement to employees and for gas utilized in District Technology Upgrades & Maintenance This item is intended to provide funds for upgrades and maintenance to the District's computer systems and equipment. General Fund 001 Descriptions Section 4

11 General Fund Descriptions Nature Center Operations This item is intended to provide funds for maintaining the animals and equipment in the nature center such as animal food, veterinary care, caging, etc. Security System & Access Control This item is intended to provide funds for maintaining security monitoring and access control system in place at the Lodge facility. Pool/Spa Licensing This item is necessary to maintain compliance with State regulatory requirements relating to operating a pool and spa. Lodge Phone, Fax & Internet This item is intended to fund phone, fax, and internet service to the District's Lodge facility. Pool/Spa Maintenance Contract This item is necessary to contract with a vendor to maintain the pool within State Guidelines for public use. Pool/Spa Maintenance Other This item addresses all pool/spa maintenance expenses not covered within the vendor contract. Lodge Cleaning & Supplies This item is necessary to maintain the Lodge facility's cleanliness and stock supplies needed for use. Contingency Lodge Expenses This item is necessary to fund ancillary Lodge needs that may not be specifically budgeted for. Holiday Décor This item is intended to fund the Holiday decorations in and around the District's Lodge facility. Resident Newsletters This item is intended to fund a regularly distributed newsletter to the District's residents. Resident ID Cards This item is intended to fund the procurement of ID cards used to allow entry to the Lodge facility by its members. Community Guide Books This item is intended to fund booklets distributed to community members. Resident Hospitality Services This item is intended to fund refreshments and snacks available in the Lodge facility. Holiday Entertainment This item is intended to fund Holiday entertainment and costuming for the District's special events. Concessions & Event Supplies This item is intended to fund supplies such as paper products for the District's special events. Park Facility Maintenance This item is for repairs and maintain the District's park facilities and park infrastructure. Lodge Furniture, Fixtures, & Equipment This item is intended to fund general maintenance and procurement of FF&E in the District's Lodge facility. Reserves Capital Assests Reserves This item is intended to reserve for general replacement of District Assets. See schedule. General Fund 001 Descriptions Section 4

12 Amended Operating Debt Service Fund Series 2002A & 2004A REVENUES Fiscal Year 2009 Adopted Annual Proposed Annual (1) Debt Service Assessments Levied on Roll $574,735 $571,348 Total Revenues $574,735 $571,348 EXPENDITURES Series 2002A Bond May 1 Principal Payment 35,000 40,000 Series 2002A Bond May 1 Interest Payment 82,715 81,473 Series 2002A Bond Nov. 1 Interest Payment 81,473 80,053 Series 2004A Bond May 1 Principal Payment 85,000 85,000 Series 2004A Bond May 1 Interest Payment 146, ,665 Series 2004A Bond Nov. 1 Interest Payment 143, ,158 Total Expenditures $574,735 $571,348 Excess of Revenues Over Expenditures $0 $0 ANALYSIS OF BONDS OUTSTANDING Series 2002A Maturity Date: May 1, 2033 Series 2002A Coupon Rate: 7.10% Series 2002A Bonds Outstanding Period Ending 11/1/2010 2,295,000 Principal Payment Applied Toward Series 2002A Bonds: 40,000 Series 2000 Bonds Outstanding Period Ending 11/1/2009 (1) $2,255,000 Series 2004A Maturity Date: May 1, 2034 Series 2004A Coupon Rate: 5.90% Series 2004A Bonds Outstanding Period Ending 11/1/2010 4,870,000 Principal Payment Applied Toward Series 2004A Bonds 85,000 Series 2004 Bonds Outstanding Period Ending 11/1/2010 (1) $4,785,000 Prepared By: Debt Service Fund Section 5

13 Schedule of As Revised Annual Assessment Table Annual Assessment (1) Series 2002 Bonds Product Type # of units Series 2002 Debt Service Assessment Per Unit O&M Assessment Per Unit Total FY 2010 Assessment Levy Total Assessment Levy on a Monthly Basis Increase/(Decrease) Relative to FY 2009 Amended Single Family 40' 89 $ 387 $ 1,274 $ 1,661 $ 138 $ Single Family 50' and 52' 107 $ 484 $ 1,593 $ 2,077 $ 173 $ Single Family 65' 69 $ 619 $ 2,039 $ 2,658 $ 222 $ Single Family 75' 54 $ 696 $ 2,294 $ 2,990 $ 249 $ Single Family 90' 48 $ 870 $ 2,868 $ 3,738 $ 311 $ Single Family 90' Plus 1 $ 1,083 $ 3,569 $ 4,652 $ 388 $ Commercial $ 580 $ 1,912 $ 2,492 $ 208 $ Series 2004 Bonds Product Type # of units Series 2004 Debt Service Assessment Per Unit O&M Assessment Per Unit Total FY 2010 Assessment Levy Total Assessment Levy on a Monthly Basis Increase/(Decrease) Relative to FY 2009 Amended Villa 92 $ 420 $ 1,019 $ 1,439 $ 120 $ Single Family 40' 114 $ 525 $ 1,274 $ 1,799 $ 150 $ Single Family 50' and 52' 181 $ 656 $ 1,593 $ 2,249 $ 187 $ Single Family 65' 87 $ 840 $ 2,039 $ 2,879 $ 240 $ Single Family 75' 70 $ 945 $ 2,294 $ 3,239 $ 270 $ Single Family 90' 36 $ 1,181 $ 2,867 $ 4,048 $ 337 $ (1) Adjusted for collection costs and early payment discounts of 6%. Assessment Table Section 6