Venetian Community Development District

Transcription

1 Venetian Community Development District Vcdd.org Adopted Presented by: Rizzetta & Company, Inc Marketplace Road Suite 206 Fort Myers, Florida Phone: rizzetta.com

2 Adopted Budget General Fund Chart of Accounts Classification 2017/2018 REVENUES Special Assessments Tax Roll* $ 1,432,867 Other Miscellaneous Revenues Transponder Revenue $ 9,000 TOTAL REVENUES $ 1,441,867 TOTAL REVENUES AND BALANCE FORWARD $ 1,441,867 EXPENDITURES - ADMINISTRATIVE Legislative Supervisor Fees $ 12,000 Financial & Administrative Administrative Services $ 8,000 District Management $ 33,400 District Engineer $ 30,000 Disclosure Report $ 1,500 Trustees Fees $ 4,172 Assessment Roll $ 5,000 Financial & Revenue Collections $ 5,000 Accounting Services $ 20,000 Auditing Services $ 6,000 Arbitrage Rebate Calculation $ 650 Public Officials Liability Insurance $ 2,475 Legal Advertising $ 2,000 Dues, Licenses & Fees $ 175 Miscellaneous Fees $ 500 Website Hosting, Maintenance, Backup (and ) $ 7,980 Miscellaneous Mailings $ 2,000 Legal Counsel District Counsel $ 72,000 Administrative Subtotal $ 212,852 EXPENDITURES - FIELD OPERATIONS Security Operations Security Services and Patrols $ 288,978 Guard & Gate Facility Maintenance $ 15,000 Gate Transponders $ 7,500 Electric Utility Services Utility Services $ 29,176 Water-Sewer Combination Services Utility Services - Effluent and Guardhouse $ 15,000 Stormwater Control Aquatic Maintenance $ 44,952 Fountain Service Repairs & Maintenance $ 4,340 Lake/Pond Bank Maintenance $ 5,000 Mitigation Area Monitoring & Maintenance $ 35,592 Stormwater System Maintenance $ 7,000 Other Physical Environment Office and Administration $ 4,000 Staff Salaries Payroll $ 121,500 Telephone, Fax, Internet $ 5,058 General Liability Insurance $ 4,950 Property Insurance $ 3,655 Landscape Maintenance $ 332,922 Holiday Decorations $ 4,000 Irrigation Maintenance $ 7,000 Irrigation Repairs $ 16,000 Landscape - Mulch $ 65,000 Landscape Miscellaneous $ 20,800 Landscape Replacement Plants, Shrubs, Trees $ 7,000 Landscape - Pinestraw $ 25,000 Landscape Flower Program $ 21,800 Field Services $ 6,600 General Repairs and Maintenance $ 8,500 Road & Street Facilities Street/ Parking Lot Sweeping $ 4,740 Street Light Decorative Light Maintenance $ 2,000 Street Sign Repair & Replacement/Traffic Enforcement $ 19,800 Roadway Repair & Maintenance $ 15,000 Contingency Entry System Upgrade $ 35,000

3 Adopted Budget General Fund Chart of Accounts Classification 2017/2018 Non - Recurring Expenses $ 46,152 Field Operations Subtotal $ 1,229,015 TOTAL EXPENDITURES $ 1,441,867 EXCESS OF REVENUES OVER EXPENDITURES $ -

4 Adopted Budget Reserve Fund Chart of Accounts Classification 2017/2018 REVENUES Special Assessments Tax Roll $ 205,615 TOTAL REVENUES $ 205,615 TOTAL REVENUES AND BALANCE FORWARD $ 205,615 EXPENDITURES Contingency Capital Reserves $ 205,615 TOTAL EXPENDITURES $ 205,615 EXCESS OF REVENUES OVER EXPENDITURES $ -

5 Adopted Budget Enterprise Fund Chart of Accounts Classification REVENUES Special Assessments Tax Roll $ 1,559,404 Dues Revenue -Lot Closings $ 4,383 Amenity Center Revenue Administration $ 52,250 Restaurant Revenue $ 613,000 TOTAL REVENUES $ 2,229,037 TOTAL REVENUES AND BALANCE FORWARD $ 2,229,037 EXPENDITURES - ADMINISTRATIVE Cost of Goods Tennis Cost of Sales $ 9,564 Restaurant Cost of Sales $ 246,671 Salaries and Benefits Salaries and Wages $ 809,551 Lessons-Fitness $ 24,904 Employee Benefits $ 300,404 Employee Education & Training $ 900 Contract Services $ 20,481 Repairs and Maintenance Chemicals $ 4,970 Shop & Hand Tools $ 900 Landscape Materials $ 12,500 Repairs & Maintenance-Equipment $ 28,700 Maintenance Contracts $ 149,316 Building Maintenance $ 18,533 Office Expense Printing $ 500 Postage $ 600 Telephone $ 14,400 Office Supplies $ 5,500 Operating Expense Employee Meals $ 22,126 Meals & Entertainment $ 300 Equipment Replacement $ 15,420 Licenses and Fees $ 13,015 Travel $ 1,980 Electricity $ 79,900 Water/Sewer Effluent & Common Guardhouse $ 46,200 Sanitation Disposal $ 7,740 Gas, Diesel Fuel and Oil $ 8,880 Equipment Rental $ 15,114 Personnel Supplies $ 3,500 Laundry Music & Entertainment China, Glass, Silver $ 5,272 Paper/Plastic $ 13,390 Operating Supplies $ 16,200 Decorations $ 11,400 Legal & Professional Legal Fees $ 1,200 Other Administrative Cost Com Related Promotion/Security $ 14,279 Bad Debt Expense $ 900 Management Fee $ 72,000 Employee Relations $ 4,000 Insurance $ 21,540 Misc Expense/Credit Card Fees $ 19,000 Miscellaneous Fees Dues & Subscriptions $ 2,308 Amenities Marketing $ 21,280 Contingency Non-Recurring Expenses $ 88,905 Field Operations Subtotal $ 2,229,037 TOTAL EXPENDITURES $ 2,229,037 EXCESS OF REVENUES OVER EXPENDITURES $ -

6 Adopted Budget Enterprise Reserve Fund Chart of Accounts Classification 2017/2018 REVENUES Special Assessments Tax Roll* $ 235,690 TOTAL REVENUES $ 235,690 TOTAL REVENUES AND BALANCE FORWARD $ 235,690 EXPENDITURES Contingency Capital Reserves $ 235,690 TOTAL EXPENDITURES $ 235,690 EXCESS OF REVENUES OVER EXPENDITURES $ -

7 Budget Template Debt Service Chart of Accounts Classification Series 2012A-1 Series 2012A /2018 REVENUES Special Assessments Net Special Assessments (1) $462, $1,007, $1,469, TOTAL REVENUES $462, $1,007, $1,469, EXPENDITURES Administrative Financial & Administrative Bank Fees Debt Service Obligation $462, $1,007, $1,469, Administrative Subtotal $462, $1,007, $1,469, TOTAL EXPENDITURES $462, $1,007, $1,469, EXCESS OF REVENUES OVER EXPENDITURES Collection and Discount % applicable to the county: 6.0% Gross assessments $1,563, Notes: Tax Roll Collection Costs for Sarasota County is 6.0% of Tax Roll. Budgeted net of tax roll assessments. See Assessment Table. (1) Maximum Annual Debt Service less Prepaid Assessments received

8 FISCAL YEAR 2017/2018 O&M & DEBT SERVICE ASSESSMENT SCHEDULE 2017/2018 O&M and River Club Budget $2,992, Sarasota Co. 6% Collection Cost: 6% $190, /2018 Total: $3,183, /2018 CDD Reserve Budget $205, Sarasota Co. 6% Collection Cost: 6% $13, /2018 Total: $218, /2018 River Club Reserve Budget $235, Sarasota Co. 6% Collection Cost: 6% $15, /2018 Total: $250, /2017 O&M/River Club/Reserve Budget $3,139, /2018 O&M/River Club/Reserve Budget $3,433, Total Difference: $294, PER UNIT ANNUAL ASSESSMENT Proposed Increase / Decrease 2016/ /2018 $ % Series 2012A-1 Debt Service - Quad $ $ $ % Series 2012A-2 Debt Service - Quad $ $ $ % CDD O&M and River Club - Quad $2, $2, $ % CDD Reserve - Quad $ $ $ % River Club Reserve - Quad $ $ $ % Total $3, $3, $ % Series 2012A-1 Debt Service - Courtyard $ $ $ % Series 2012A-2 Debt Service - Courtyard $ $ $ % CDD O&M and River Club - Courtyard $2, $2, $ % CDD Reserve - Courtyard $ $ $ % River Club Reserve - Courtyard $ $ $ % Total $3, $3, $ % Series 2012A-1 Debt Service - Villa $ $ $ % Series 2012A-2 Debt Service - Villa $ $ $ % CDD O&M and River Club - Villa $2, $2, $ % CDD Reserve - Villa $ $ $ % River Club Reserve - Villa $ $ $ % Total $3, $3, $ % Series 2012A-1 Debt Service - Classic $ $ $ % Series 2012A-2 Debt Service - Classic $ $ $ % CDD O&M and River Club - Classic $2, $2, $ % CDD Reserve - Classic $ $ $ % River Club Reserve - Classic $ $ $ % Total $3, $3, $ % Series 2012A-1 Debt Service - Estate $ $ $ % Series 2012A-2 Debt Service - Estate $1, $1, $ % CDD O&M and River Club- Estate $2, $2, $ % CDD Reserve - Estate $ $ $ % River Club Reserve - Estate $ $ $ % Total $3, $4, $ %

9 Series 2012A-2 Debt Service - Golf Club $ $ $ % CDD O&M - Golf Club $1, $1, $ % CDD Reserve - Golf Club $ $ $ % Total $1, $1, $ % Series 2012A-2 Debt Service - Office $ $ $ % CDD O&M - Office $1, $1, $ % CDD Reserve - Office $ $ $ % Total $2, $2, $ %

10 VENETIAN FISCAL YEAR 2017/2018 O&M & DEBT SERVICE ASSESSMENT SCHEDULE CDD O&M BUDGET $1,432, CDD RESERVE BUDGET $205, RIVER CLUB BUDGET $1,559, RIVER CLUB RESERVE BUDGET $235, COLLECTION 6.0% $91, COLLECTION 6.0% $13, COLLECTION 6.0% $99, COLLECTION 6.0% $15, TOTAL CDD O&M ASSESSMENT $1,524, TOTAL CDD RESERVE ASSESSMENT $218, TOTAL RIVER CLUB ASSESSMENT $1,658, TOTAL RIVER CLUB RESERVE ASSESSME $250, ALLOCATION OF CDD O&M ASSESSMENT ALLOCATION OF RIVER CLUB ASSESSMENT SERIES 2012A-1SERIES 2012A-2 ALLOCATION OF CDD RESERVE ASSESSMENT ALLOCATION OF RIVER CLUB RESERVE ASSESSMENT PER LOT ANNUAL ASSESSMENT UNITS ASSESSED (1) DEBT DEBT CDD TOTAL % TOTAL CDD O&M CDD O&M CDD TOTAL % TOTAL CDD RESERVE CDD RESERVE RIVER CLUB TOTAL % TOTAL RIVER CLUB RIVER CLUB RIVER CLUB TOTAL % TOTAL RESERVE RESERVE CDD O&M CDD RIVER CLUB 2012A-1 DEBT2012A-2 DEBT LU PRODUCT TYPE O&M EAU FACTOR SERIES (2) SERIES (2) O&M UNITS EAU's EAU's PER PARCEL PER LOT RESERVE UNITS EAU's EAU's PER PARCEL PER LOT UNITS EAU's EAU's PER PARCEL PER LOT RESERVE UNITS EAU's EAU's PER PARCEL PER LOT & RIVER CLUB RESERVE RESERVE SERVICE (3) SERVICE (3) TOTAL (4) Q Quad % $187, $1, % $26, $ % $194, $1, % $29, $ $2, $ $ $ $ $3, CY Courtyard % $277, $1, % $39, $ % $308, $1, % $46, $ $2, $ $ $ $ $3, V Villa % $451, $1, % $64, $ % $503, $1, % $76, $ $2, $ $ $ $ $3, CL Classic % $405, $1, % $58, $ % $452, $1, % $68, $ $2, $ $ $ $ $3, E Estate % $180, $1, % $25, $ % $200, $1, % $30, $ $2, $ $ $ $1, $4, GC Golf Club % $9, $1, % $1, $ % $0.00 $ % $0.00 $0.00 $1, $ $0.00 $ $1, O Office % $12, $1, % $1, $ % $0.00 $ % $0.00 $0.00 $1, $ $0.00 $ $2, Adjusted for WCI % $0.00 $ % $0.00 $0.00 $0.00 $0.00 $0.00 $ % $1,524, % $218, % $1,658, % $250, LESS: Sarasota County Collection Costs and Early Payment Discount Costs ($91,459.60) ($13,124.36) ($99,536.43) ($15,044.04) Net Revenue to be Collected $1,432, $205, $1,559, $235, (1) Reflects 1 (one) Series 2012A-1 prepayment and 1 (one) Series 2012A-2 prepayment. (2) Reflects the number of total lots with Series 2012A-1 and Series 2012A-2 debt outstanding. (3) Annual debt service assessment per lot adopted in connection with the Venetia Series 2012A-1 and Series 2012A-2 bond issues. Annual assessment includes principal, interest, Sarasota County collection costs and early payment discount costs. (4) Annual assessment that will appear on November 2017 Sarasota County property tax bill. Amount shown includes all applicable collection costs. Property owner is eligible for a discount of up to 4% if paid early.