ESTANCIA AT WIREGRASS COMMUNITY DEVELOPMENT DISTRICT AUGUST 28, 2018 AGENDA PACKAGE

Transcription

1 COMMUNITY DEVELOPMENT DISTRICT AUGUST 28, 2018 AGENDA PACKAGE

2 Estancia at Wiregrass Inframark, Infrastructure Management Services 210 North University Drive, Suite 702 Coral Springs, Florida Telephone: (954) Fax: (954) August 21, 2018 Board of Supervisors Estancia at Wiregrass Dear Board Members: The regular meeting of the Board of Supervisors of the Estancia at Wiregrass Community Development District is scheduled for Tuesday, August 28, 2018 at 12:00 p.m. at the Estancia at Wiregrass Clubhouse, 4000 Estancia Boulevard, Wesley Chapel, Florida. Following is the meeting agenda: 1. Call to Order/Roll Call 2. Audience Comments on Agenda Items 3. Public Hearing to Consider the Adoption of the Budget for Fiscal Year 2019 A. Resolution Annual Appropriations FY2019 B. Resolution Levy of Non-Ad Valorem Assessments 4. Approval of Consent Agenda A. Minutes of the July 24, 2018 Meeting B. Financial Statements July Aquatic Report 6. Staff Report A. District Counsel i. Update on Luke Brothers Litigation B. District Engineer C. District Manager i. Consideration to Amend the Fiscal Year 2019 Meeting Schedule 7. Supervisor Requests 8. Adjournment Any supporting material for the items listed above not included in the agenda package will be provided as soon as they are available or they will be distributed at the meeting. I look forward to seeing you at the meeting, but in the meantime if you have any questions, please contact me. Sincerely, Andy Mendenhall Andy Mendenhall District Manager Agenda Page 2 cc: Jere Earlywine; Tonja Stewart

3 Third Order of Business Agenda Page 3

4 Agenda Page 4 Annual Operating and Debt Service Budgets Fiscal Year 2019 Version 3 - Modified Tentative Budget (Printed on 08/10/18 10:00am) Prepared by:

5 Agenda Page 5 Table of Contents Page # OPERATING BUDGET General Fund Summary of Revenues, Expenditures and Changes in Fund Balances Exhibit A - Allocation of Fund Balances. 4 Budget Narrative 5-10 DEBT SERVICE BUDGETS Series 2013 Summary of Revenues, Expenditures and Changes in Fund Balances.. 11 Amortization Schedule Series 2015 Summary of Revenues, Expenditures and Changes in Fund Balances.. 14 Amortization Schedule SUPPORTING BUDGET SCHEDULE Comparison of Assessment Rates

6 Agenda Page 6 Operating Budget Fiscal Year 2019

7 Agenda Page 7 General Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2019 Modified Tentative Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL BUDGET THRU AUG- PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2017 FY 2018 JUL 2018 SEP 2018 FY 2018 FY 2019 Interest - Investments $ - $ 240 $ 4,586 $ 1,380 $ 5,966 $ 240 Interest - Tax Collector Special Assmnts- Tax Collector 430, , ,291 5, , ,954 Special Assmnts- CDD Collected 404, , , , ,393 Special Assmnts- Discounts - (25,787) (24,913) - (24,913) (27,638) Other Miscellaneous Revenues TOTAL REVENUES 834, , ,203 6, ,976 1,009,949 EXPENDITURES Administrative P/R-Board of Supervisors 1,800 2,400 1, ,400 2,400 FICA Taxes ProfServ-Administrative 3, ProfServ-Arbitrage Rebate ProfServ-Dissemination Agent 6,500 6,500 6,500-6,500 6,500 ProfServ-Engineering 9,943 10,000 4, ,283 10,000 ProfServ-Legal Services 21,996 20,000 7,839 3,334 11,173 20,000 ProfServ-Mgmt Consulting Serv 50,400 50,400 42,000 8,400 50,400 52,000 ProfServ-Property Appraiser ProfServ-Special Assessment 5,000 5, ProfServ-Trustee Fees 7,543 7,500 3,971 3,529 7,500 7,500 Auditing Services - 3,115 3,250-3,250 3,115 Postage and Freight , , Insurance - General Liability 3,115 2,475 2,066-2,066 2,475 Printing and Binding 2, Legal Advertising 2,726 1,800 1,613 1,187 2,800 1,800 Misc-Assessmnt Collection Cost 8,520 12,894 12,288-12,288 13,819 Misc-Web Hosting Annual District Filing Fee Total Administrative 124, ,743 88,199 18, , ,120 Other Public Safety Contracts-Security Services 2,840 10,000 1,800-1,800 - Total Other Public Safety 2,840 10,000 1,800-1,800 - Electric Utility Services Electricity - General 18,789 21,600 18,326 3,640 21,966 22,800 Electricity - Streetlighting 1,443 2,100 1, ,612 2,100 Total Electric Utility Services 20,232 23,700 19,730 3,848 23,578 24,900 Annual Operating and Debt Service Budgets Fiscal Year

8 Agenda Page 8 General Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2019 Modified Tentative Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL BUDGET THRU AUG- PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2017 FY 2018 JUL 2018 SEP 2018 FY 2018 FY 2019 Water-Sewer Comb Services Utility - Water & Sewer 1,910 2,000 2, ,700 3,360 Utility - Reclaimed Water - 5,000 15,941 2,000 17,941 12,000 Total Water-Sewer Comb Services 1,910 7,000 18,411 2,230 20,641 15,360 Flood Control/Stormwater Mgmt Contracts-Fountain 7,800 7,800 6,500 1,300 7,800 7,800 Contracts-Wetland Mitigation 6,900 9,000 5,300 2,100 7,400 9,000 Contracts-Aquatic Control 9,900 9,900 8,730 1,940 10,670 11,640 Contracts-Ponds ,000 R&M-Aquascaping - 5,000 2, ,904 5,000 R&M-Fountain - 3,000 2,013 1,000 3,013 3,000 R&M-Stormwater System - 1, ,000 1,075 1,500 Total Flood Control/Stormwater Mgmt 24,600 36,200 24,688 8,174 32,862 61,940 Field ProfServ-Field Management - 7,200-7,200 7,200 7,200 Contracts-Landscape 256, , ,922 48, , ,106 Contracts-Pest Control 19,609 4,010 10, ,538 4,010 Contracts-Fire Ant Treatment 13,392 10,000 12,468-12,468 10,000 Landscape Maintenance Chancey Road 24,990 24,990 20,825 4,165 24,990 24,990 Irrigation Repairs Chancey Road 2,086 3, ,000 Landscape Annual Rotation Chancey Road 4,310 5,746 1,437 4,309 5,746 5,746 Landscape Mulch Chancey Road 14,490 15, ,925 15,195 15,195 Landscape Replacement Chancey Road 495 5,000 18, ,323 5,000 Fertilization-Chancey Road 5,350 6,740 3,965 1,120 5,085 6,740 Pest Control-Chancey Road 3,910 2,500 3, ,400 2,500 Insurance - Property 8,893 9,782 8,168-8,168 8,616 Insurance - General Liability 1,850 2,035 1,699-1,699 2,035 R&M-Entry Feature - 2,000 3,094-3,094 2,000 R&M-Fertilizer 27,076 23,900 22,460 3,984 26,444 23,900 R&M-Irrigation 13,621 18,691 5,557 3,116 8,673 18,691 R&M-Mulch 75, ,200 11,102 89, , ,200 R&M-Plant Replacement 6,079 30,000 30,133 3,000 33,133 30,000 R&M-Annuals 5,239 1,900 3,803-3,803 1,900 Misc-Holiday Decor 5,000 5,000 5,000-5,000 5,000 Misc-Contingency 2,800 7,500 11,597-11,597 5,000 Total Field 491, , , , , ,829 Road and Street Facilities R&M-Sidewalks - 1,000-1,000 1,000 1,000 R&M-Street Signs - 1,000 3,536-3,536 1,000 R&M-Streetlights 3,429 15,000 17,142 2,500 19,642 20,000 Total Road and Street Facilities 3,429 17,000 20,678 3,500 24,178 22,000 Annual Operating and Debt Service Budgets Fiscal Year

9 Agenda Page 9 General Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2019 Modified Tentative Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL BUDGET THRU AUG- PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2017 FY 2018 JUL 2018 SEP 2018 FY 2018 FY 2019 Parks and Recreation - General ProfServ-Wildlife Management Service 14,600 14,400 14,100 2,800 16,900 16,800 R&M-Bike Paths & Asphalt - 5,000-5,000 5,000 - R&M-Boardwalks - 5, ,720 5,000 5,000 Misc-Reserve Study - 3,500-3,500 3,500 - Total Parks and Recreation - General 14,600 27,900 14,380 16,020 30,400 21,800 Reserves Capital Reserve - 72,000 14,279-14,279 - Total Reserves - 72,000 14,279-14,279 - TOTAL EXPENDITURES & RESERVES 684, , , , ,838 1,009,949 Excess (deficiency) of revenues Over (under) expenditures 150, ,550 (226,413) 118,137 - OTHER FINANCING SOURCES (USES) Interfund Transfer - In 143, Contribution to (Use of) Fund Balance TOTAL OTHER SOURCES (USES) 143, Net change in fund balance 294, ,550 (226,413) 118,137 - FUND BALANCE, BEGINNING 356, , , , ,579 FUND BALANCE, ENDING $ 650,441 $ 650,441 $ 994,991 $ (226,413) $ 768,579 $ 768,579 Annual Operating and Debt Service Budgets Fiscal Year

10 Agenda Page 10 General Fund Exhibit "A" Allocation of Fund Balances AVAILABLE FUNDS Amount Beginning Fund Balance - Fiscal Year 2019 $ 768,579 Net Change in Fund Balance - Fiscal Year Reserves - Fiscal Year 2019 Additions - Total Funds Available (Estimated) - 9/30/ ,579 ALLOCATION OF AVAILABLE FUNDS Nonspendable Fund Balance Deposits 3,675 Subtotal 3,675 Assigned Fund Balance Operating Reserve - First Quarter Operating Capital 336,650 (1) Reserves - (Current Year) 72,000 (2) Reserves - (Current Year Expenses) (14,279) 57,721 Subtotal 452,092 Total Allocation of Available Funds 455,767 Total Unassigned (undesignated) Cash $ 312,812 Notes (1) Represents approximately 3 months of operating expenditures less reserves (2) Represents Reserves for FY 2018 Annual Operating and Debt Service Budgets Fiscal Year

11 Agenda Page 11 General Fund Budget Narrative Fiscal Year 2019 REVENUES Interest-Investments The District earns interest on the monthly average collected balance for their operating account. Special Assessments-Tax Collector The District will levy a Non-Ad Valorem assessment on all the assessable property within the District in order to pay for the operating expenditures during the Fiscal Year. Special Assessments-CDD Collected The District will directly bill the developer for their portion of property within the District to pay for the operating expenditures during the Fiscal Year. Special Assessments-Discounts Per Section , Florida Statutes, discounts are allowed for early payment of assessments. The budgeted amount for the fiscal year is calculated at 4% of the anticipated Non-Ad Valorem assessments. EXPENDITURES Administrative P/R-Board of Supervisors Chapter 190 of the Florida Statutes allows for members of the Board of Supervisors to be compensated $200 per meeting at which they are in attendance. The amount for the Fiscal Year is based upon all supervisors attending all of the meetings. Professional Services - Arbitrage Rebate Calculation The District has a proposal with a company who specializes to calculate the District's Arbitrage Rebate Liability on the Series of Benefit Special Assessment Bonds. The budgeted amount for the fiscal year is based on standard fees charged for this service. Professional Services - Dissemination Agent The District is required by the Securities and Exchange Commission to comply with Rule 15c2-12(b)-(5), which relates to additional reporting requirements for unrelated bond issues. The budgeted amount for the fiscal year is based on standard fees charged for this service. Professional Services-Engineering The District's engineer provides general engineering services to the District, i.e. attendance and preparation for monthly board meetings when requested, review of invoices, and other specifically requested assignments. Professional Services-Legal Services The District s Attorney provides general legal services to the District, i.e., attendance and preparation for monthly Board meetings, review of contracts, review of agreements and resolutions, and other research as directed or requested by the Board of Supervisors and the District Manager. Annual Operating and Debt Service Budgets Fiscal Year

12 Agenda Page 12 General Fund Budget Narrative Fiscal Year 2019 EXPENDITURES Administrative (continued) Professional Services-Management Consulting Services The District receives Management, Field Services, Accounting, Assessment and Administrative services as part of a Management Agreement with Inframark Infrastructure Management Services, Inc. Also included are costs for Information Technology charges to process all of the District s financial activities, i.e. accounts payable, financial statements, budgets, etc., on a main frame computer owned by Inframark in accordance with the management contract and the charge for rentals. The budgeted amount for the fiscal year is based on the contracted fees outlined in Exhibit "A" of the Management Agreement. Professional Services-Property Appraiser The Pasco County Property Appraiser provides the District with a listing of the legal description of each property parcel within the District boundaries and the names and addresses of the owners of such property. The District reimburses the Property Appraiser for necessary administrative costs incurred to provide this service. The fiscal year budget for property appraiser costs is based on the Pasco County Flat Fee of $150. Professional Services Trustee Fees The District issued this Series of 2013 Capital Improvement Revenue Bonds that are deposited with a Trustee to handle all trustee matters. The annual trustee fee is based on standard fees charged plus any out-of-pocket expenses. Auditing Services The District is required to conduct an annual audit of its financial records by an Independent Certified Public Accounting Firm. The budgeted amount for the fiscal year is based on contracted fees from an existing engagement letter. Postage and Freight Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence. Insurance-General Liability The District's General Liability & Public Officials Liability Insurance policy is with Egis Insurance & Risk Advisors Insurance Agency, Inc. They specialize in providing insurance coverage to governmental agencies. The budgeted amount allows for a projected increase in the premium. Printing and Binding Copies used in the preparation of agenda packages, required mailings, and other special projects. Legal Advertising The District is required to advertise various notices for monthly Board meetings and other public hearings in a newspaper of general circulation. Miscellaneous-Assessment Collection Costs The District reimburses the Pasco County Tax Collector for her or his necessary administrative costs. Per the Florida Statutes, administrative costs shall include, but not be limited to, those costs associated with personnel, forms, supplies, data processing, computer equipment, postage, and programming. The District also compensates the Tax Collector for the actual cost of collection or 2% on the amount of special assessments collected and remitted, whichever is greater. The fiscal year budget for collection costs is based on a maximum of 2% of the anticipated Non-Ad Valorem assessment collections. Annual Operating and Debt Service Budgets Fiscal Year

13 Agenda Page 13 General Fund Budget Narrative Fiscal Year 2019 EXPENDITURES Administrative (continued) Miscellaneous-Web Hosting The District is mandated to post on the internet the approved and adopted budgets, minutes and audits per State requirements. Annual District Filing Fee The District is required to pay an annual fee of $175 to the Department of Community Affairs. Electric Utility Services Electricity-General This is for the electric utility services for the irrigation timers, lift station pumps, fountains, etc. Electricity-Streetlighting This is for the electric for the streetlights on Chancey Road. Water-Sewer Combination Services Utility-Water & Sewer This is for the water & sewer utility services related to the operations of the District. Utility-Reclaimed Water The District may incur expenses related to the use of reclaimed water for irrigation. Flood Control/Stormwater Management Contracts-Fountain The District has a contract for the monthly maintenance of the fountains throughout the Parks and Recreational areas. Contracts-Wetland Mitigation The District has a contract for semi-annual wetland mitigation and a contract for quarterly mitigation maintenance on the Parcel S-1. Contracts-Aquatic Control The District has a contract for the monthly care and maintenance of the lakes and ponds for the control of nuisance plant and algae species. Contracts-Ponds The District has a contract for the monthly care and maintenance of the ponds. Annual Operating and Debt Service Budgets Fiscal Year

14 Agenda Page 14 General Fund Budget Narrative Fiscal Year 2019 EXPENDITURES Flood Control/Stormwater Management (continued) R&M-Aquascaping This is for the replacing of beneficial aquatic plants that may or may not have been required by other governmental entities. R&M-Fountain This is for the repairs and maintenance of the fountains throughout the Parks and Recreational areas. R&M-Stormwater System This is for the repairs and maintenance of the stormwater system throughout the District. Field Professional Services-Field Management This is for the field manager who oversees the daily activity of the field operations of the District. Contracts-Landscaping The District currently has a contract with Vivicon for landscaping services plus the maintenance of the C-4 Road. Contracts-Pest Control The District currently has a contract with Vivicon for the pest control of the plants, trees and flowers around the District. Contracts-Fire Ant Treatment The District currently has a contract with Vivicon for the fire ant treatment around the District. Landscape Maintenance-Chancey Road The District currently has a contract with Vivicon for landscaping services along Chancey Road. Irrigation Repairs-Chancey Road The District currently has a contract with Vivicon for irrigation maintenance along Chancey Road. Landscape Annual Rotation-Chancey Road This is for the installation of the annual flowers along Chancey Road. Landscape Mulch-Chancey Road This is for the installation of mulch along Chancey Road. Landscape Replacement-Chancey Road This is for the landscape replacement including turf, trees, shrubs, etc. along Chancey Road. Fertilization-Chancey Road This is for the fertilization of the turf, trees, plants and shrubs along Chancey Road. Annual Operating and Debt Service Budgets Fiscal Year

15 Agenda Page 15 General Fund Budget Narrative Fiscal Year 2019 EXPENDITURES Field (continued) Pest Control-Chancey Road This is for the pest control of the turf, trees, plants and shrubs along Chancey Road. Insurance Property This is for the property insurance for the items owned by the District. Insurance General Liability This is for the general liability insurance for the items owned by the District. R&M-Entry Feature This is for the repairs and maintenance of the entry monuments and fencing. R&M-Fertilizer This is for the fertilization of the turf, trees, plants and shrubs of the District, except Chancey Road. R&M-Irrigation This is for the repairs and maintenance of the irrigation system of the District, except Chancey Road. R&M-Mulch This is for the installation of mulch around the District, except Chancey Road. R&M-Plant Replacement This is for the landscape replacement including turf, trees, shrubs, etc. around the District, except Chancey Road. R&M-Annuals This is for the installation of the annual flowers around the District, except Chancey Road. Miscellaneous-Holiday Decor This is for the decorations that will be displayed around the District during the Holidays. Miscellaneous-Contingency This is for any miscellaneous fees or services that may arise around the District. Road and Street Facilities R&M-Sidewalks This is for the repairs and maintenance of the sidewalks around the District. R&M-Street Signs This is for the repairs and maintenance of the street signs around the District. Annual Operating and Debt Service Budgets Fiscal Year

16 Agenda Page 16 General Fund Budget Narrative Fiscal Year 2019 EXPENDITURES Road and Street Facilities (continued) R&M-Streetlights This is for the repairs, maintenance and inspection of the streetlights around the District. Parks and Recreation-General Professional Services-Wildlife Management Service The District has a contract to remove the hogs and wild animals around the District. R&M-Boardwalk This is for the repairs and maintenance of the boardwalks and bridges around the District. Annual Operating and Debt Service Budgets Fiscal Year

17 Agenda Page 17 Debt Service Budgets Fiscal Year 2019

18 Agenda Page 18 Series 2013 Debt Service Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2019 Modified Tentative Budget REVENUES ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL BUDGET THRU AUG- PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2017 FY 2018 JUL 2018 SEP 2018 FY 2018 FY 2019 Interest - Investments $ 6,583 $ - $ 14,234 $ 1,300 $ 15,534 $ - Special Assmnts- Tax Collector 814,567 1,089,249 1,080,137 9,112 1,089,249 1,074,745 Special Assmnts- CDD Collected 442, , , , , ,340 Special Assmnts- Discounts - (43,570) (42,093) - (42,093) (42,990) TOTAL REVENUES 1,264,108 1,261,385 1,166, ,092 1,292,030 1,261,095 EXPENDITURES Administrative Misc-Assessmnt Collection Cost 14,877 21,785 20, ,943 21,495 Total Administrative 14,877 21,785 20, ,943 21,495 Debt Service Principal Debt Retirement 175, , , , ,000 Principal Prepayments 5, Interest Expense 1,057,934 1,046,197 1,046,197-1,046,197 1,034,084 Total Debt Service 1,237,934 1,231,197 1,231,197-1,231,197 1,229,084 TOTAL EXPENDITURES 1,252,811 1,252,982 1,251, ,252,140 1,250,579 Excess (deficiency) of revenues Over (under) expenditures 11,297 8,403 (85,020) 124,910 39,890 10,516 OTHER FINANCING SOURCES (USES) Contribution to (Use of) Fund Balance - 8, ,516 TOTAL OTHER SOURCES (USES) - 8, ,516 Net change in fund balance 11,297 8,403 (85,020) 124,910 39,890 10,516 FUND BALANCE, BEGINNING 1,510,268 1,521,565 1,521,565-1,521,565 1,561,455 FUND BALANCE, ENDING $ 1,521,565 $ 1,529,968 $ 1,436,545 $ 124,910 $ 1,561,455 $ 1,571,970 Annual Operating and Debt Service Budgets Fiscal Year

19 Agenda Page 19 Series 2013 Debt Service Fund Amortization Schedule Series 2013 Special Assessment Bonds Period Ending Principal Coupon Interest Debt Service Annual DS 11/1/ , % 520, ,150 5/1/ , ,934 1,229,084 11/1/ , % 513, ,934 5/1/ , ,241 1,231,175 11/1/ , % 507, ,241 5/1/ , ,228 1,227,469 11/1/ , % 500, ,228 5/1/ , ,738 1,227,966 11/1/ ,000 6,375% 492, ,738 5/1/ , ,769 1,227,506 11/1/ , % 484, ,769 5/1/ , ,322 1,226,091 11/1/ , % 476, ,322 5/1/ , ,238 1,228,559 11/1/ , % 467, ,238 5/1/ , ,675 1,224,913 11/1/ , % 457, ,675 5/1/ , ,475 1,225,150 11/1/ , % 447, ,475 5/1/ , ,575 1,223,050 11/1/ , % 435, ,575 5/1/ , ,800 1,223,375 11/1/ , % 422, ,800 5/1/ , ,150 1,221,950 11/1/ , % 409, ,150 5/1/ , ,450 1,223,600 11/1/ , % 394, ,450 5/1/ , ,700 1,223,150 11/1/ , % 378, ,700 5/1/ , ,900 1,220,600 11/1/ , % 361, ,900 5/1/ , ,875 1,220,775 11/1/ , % 343, ,875 5/1/ , ,625 1,218,500 11/1/ , % 324, ,625 5/1/ , ,150 1,213,775 11/1/ , % 304, ,150 5/1/ , ,100 1,216,250 11/1/ , % 282, ,100 5/1/ , ,475 1,215,575 11/1/ , % 258, ,475 5/1/ , ,275 1,211,750 11/1/ , % 233,275 1,003,275 5/1/ , ,325 1,209,600 Annual Operating and Debt Service Budgets Fiscal Year

20 Agenda Page 20 Series 2013 Debt Service Fund Amortization Schedule Series 2013 Special Assessment Bonds Period Ending Principal Coupon Interest Debt Service Annual DS 11/1/ , % 206,325 1,031,325 5/1/ , ,450 1,208,775 11/1/ , % 177,450 1,057,450 5/1/ , ,650 1,204,100 11/1/ , % 146,650 1,091,650 5/1/ , ,575 1,205,225 11/1/2043 1,010, % 113,575 1,123,575 5/1/ ,225 78,225 1,201,800 11/1/2044 1,080, % 78,225 1,158,225 5/1/ ,425 40,425 1,198,650 11/1/2045 1,155, % 40,425 1,195,425 1,195,425 15,065,000 19,038,838 34,103,838 34,103,838 Annual Operating and Debt Service Budgets Fiscal Year

21 Agenda Page 21 Series 2015 Debt Service Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2019 Modified Tentative Budget REVENUES ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL BUDGET THRU AUG- PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2017 FY 2018 JUL 2018 SEP 2018 FY 2018 FY 2019 Interest - Investments $ 523 $ - $ 599 $ 93 $ 692 $ - Special Assmnts- Prepayment , ,532 - Special Assmnts- CDD Collected 309, , , , , ,110 TOTAL REVENUES 310, , , , , ,110 EXPENDITURES Debt Service Principal Debt Retirement - 70,000 70,000-70,000 75,000 Interest Expense 237, , , , ,938 Total Debt Service 237, , , , ,938 TOTAL EXPENDITURES 237, , , , ,938 Excess (deficiency) of revenues Over (under) expenditures 72,898 3,775 (150,433) 546, ,998 (25,828) OTHER FINANCING SOURCES (USES) Operating Transfers-Out (194) Contribution to (Use of) Fund Balance - 3, (25,828) TOTAL OTHER SOURCES (USES) (194) 3, (25,828) Net change in fund balance 72,704 3,775 (150,433) 546, ,998 (25,828) FUND BALANCE, BEGINNING 428, , , , ,323 FUND BALANCE, ENDING $ 501,325 $ 505,100 $ 350,892 $ 546,431 $ 897,323 $ 871,496 Annual Operating and Debt Service Budgets Fiscal Year

22 Agenda Page 22 Series 2015 Debt Service Fund Amortization Schedule Series 2015 Special Assessment Bonds Period Ending Principal Coupon Interest Debt Service Annual DS 11/1/ , % 117, ,219 5/1/ , , ,938 11/1/ , % 115, ,719 5/1/ , , ,938 11/1/ , % 114, ,219 5/1/ , , ,838 11/1/ , % 112, ,619 5/1/ , , ,638 11/1/ , % 111, ,019 5/1/ , , ,338 11/1/ , % 109, ,319 5/1/ , , ,275 11/1/ , % 106, ,956 5/1/ , , ,419 11/1/ , % 104, ,463 5/1/ , , ,300 11/1/ , % 101, ,838 5/1/ ,081 99, ,919 11/1/ , % 99, ,081 5/1/ ,194 96, ,275 11/1/ , % 96, ,194 5/1/ ,175 93, ,369 11/1/ , % 93, ,175 5/1/ ,025 90, ,200 11/1/ , % 90, ,025 5/1/ ,744 86, ,769 11/1/ , % 86, ,744 5/1/ ,200 83, ,944 11/1/ , % 83, ,200 5/1/ ,525 79, ,725 11/1/ , % 79, ,525 5/1/ ,588 75, ,113 11/1/ , % 75, ,588 5/1/ ,519 71, ,106 11/1/ , % 71, ,519 5/1/ ,188 67, ,706 11/1/ , % 67, ,188 5/1/ ,484 62, ,672 11/1/ , % 62, ,484 5/1/ ,647 57, ,131 11/1/ , % 57, ,647 5/1/ ,541 52, ,188 11/1/ , % 52, ,541 5/1/ ,166 47, ,706 Annual Operating and Debt Service Budgets Fiscal Year

23 Agenda Page 23 Series 2015 Debt Service Fund Amortization Schedule Series 2015 Special Assessment Bonds Period Ending Principal Coupon Interest Debt Service Annual DS 11/1/ , % 47, ,166 5/1/ ,388 41, ,553 11/1/ , % 41, ,388 5/1/ ,341 35, ,728 11/1/ , % 35, ,341 5/1/ ,025 29, ,366 11/1/ , % 29, ,025 5/1/ ,306 22, ,331 11/1/ , % 22, ,306 5/1/ ,184 15, ,491 11/1/ , % 15, ,184 5/1/2046 7,794 7, ,978 11/1/ , % 7, , ,794 4,500,000 4,295,744 8,795,744 8,795,744 Annual Operating and Debt Service Budgets Fiscal Year

24 Agenda Page 24 Supporting Budget Schedule Fiscal Year 2019

25 All Funds Agenda Page 25 Comparison of Assessment Rates Fiscal Year 2019 vs. Fiscal Year 2018 Product $ $ 1, % $ $ 2, % $ $ 2, % $ $ 2, % $ $ 2, % $ $ 2, % $ 3% $ $ 2, % $ $ 2, % O&M EAU Total % of O&M Series 2013 DS Series 2015 DS Total Per Unit Units DS DS Factor EAUs EAUs Percent Percent Percent Percent Units Units FY 2019 FY 2018 Change FY 2019 FY 2018 Change FY 2019 FY 2018 Change FY 2019 FY 2018 Change Platted Lots Phase 1 Phase 1 Single Family 45' % $ $ % $ 1, $ 1, % $ - $ - n/a 1, Phase 1 Single Family 55' % $ $ % $ 1, $ 1, % $ - $ - n/a 2, Phase 1 Single Family 65' % $ 1, $ % $ 1, $ 1, % $ - $ - n/a 2, Phase 1 Single Family 80' % $ 1, $ 1, % $ 1, $ 1, % $ - $ - n/a 3, Phase 2 Phase 2A Villas % $ $ % $ 1, $ 1, % $ - $ - n/a 2, Phase 2B-1 Single Family 65' % $ 1, $ % $ 1, $ 1, % $ - $ - n/a 2, Phase 2B-1 Single Family 80' % $ 1, $ 1, % $ 1, $ 1, % $ - $ - n/a $ 3, , Phase 3 Phase 3 Single Family 45' % $ $ % $ 1, $ 1, % $ - $ - n/a 2, Phase 3 Single Family 55' % $ $ % $ 1, $ 1, % $ - $ - n/a 2, Sub-Total % Unplatted Lots Phase 2 Phase 2B-1 Single Family 65' % $ $ % $ 1, $ 1, % $ - $ - n/a 2, Phase 2B-1 Single Family 80' % $ 1, $ 1, % $ 1, $ 1, % $ - $ - n/a 3, Phase 3 Phase 3 Single Family 55' % $ $ % $ 1, $ 1, % $ - $ - n/a 2, Phase 3C & 4 Phase 3C & 4 Townhome % $ $ - n/a $ - $ - n/a $ $ - n/a 1, Phase 3C & 4 Single Family 45' % $ $ % $ - $ - n/a $ 1, $ 1, % $ 1, , Phase 3C & 4 Single Family 55' % $ $ % $ - $ - n/a $ 1, $ 1, % $ 2, , Sub-Total % Total % 17 Annual Operating and Debt Service Budgets Fiscal Year 2019

26 3A. Agenda Page 26

27 Agenda Page 27 RESOLUTION THE ANNUAL APPROPRIATION RESOLUTION OF THE ESTANCIA AT WIREGRASS COMMUNITY DEVELOPMENT DISTRICT ( DISTRICT ) RELATING TO THE ANNUAL APPROPRIATIONS AND ADOPTING THE BUDGETS FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2018, AND ENDING SEPTEMBER 30, 2019; AUTHORIZING BUDGET AMENDMENTS; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the District Manager has, prior to the fifteenth (15 th ) day in June, 2018, submitted to the Board of Supervisors ( Board ) of the Estancia at Wiregrass Community Development District ( District ) proposed budgets ( Proposed Budget ) for the fiscal year beginning October 1, 2018 and ending September 30, 2019 ( Fiscal Year 2018/2019 ) along with an explanatory and complete financial plan for each fund of the District, pursuant to the provisions of Section (2)(a), Florida Statutes; and WHEREAS, at least sixty (60) days prior to the adoption of the Proposed Budget, the District filed a copy of the Proposed Budget with the local governing authorities having jurisdiction over the area included in the District pursuant to the provisions of Section (2)(b), Florida Statutes; and WHEREAS, the Board set a public hearing thereon and caused notice of such public hearing to be given by publication pursuant to Section (2)(a), Florida Statutes; and WHEREAS, the District Manager posted the Proposed Budget on the District s website at least two days before the public hearing; and WHEREAS, Section (2)(a), Florida Statutes, requires that, prior to October 1 st of each year, the Board, by passage of the Annual Appropriation Resolution, shall adopt a budget for the ensuing fiscal year and appropriate such sums of money as the Board deems necessary to defray all expenditures of the District during the ensuing fiscal year; and WHEREAS, the District Manager has prepared a Proposed Budget, whereby the budget shall project the cash receipts and disbursements anticipated during a given time period, including reserves for contingencies for emergency or other unanticipated expenditures during the fiscal year. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE COMMUNITY DEVELOPMENT DISTRICT: SECTION 1. BUDGET a. The Board has reviewed the Proposed Budget, a copy of which is on file with the office of the District Manager and at the District s Local Records Office, and hereby approves certain amendments thereto, as shown in Section 2 below.

28 Agenda Page 28 b. The Proposed Budget, attached hereto as Exhibit A, as amended by the Board, is hereby adopted in accordance with the provisions of Section (2)(a), Florida Statutes ( Adopted Budget ), and incorporated herein by reference; provided, however, that the comparative figures contained in the Adopted Budget may be subsequently revised as deemed necessary by the District Manager to reflect actual revenues and expenditures. c. The Adopted Budget, as amended, shall be maintained in the office of the District Manager and at the District s Local Records Office and identified as The Budget for the Estancia at Wiregrass for the Fiscal Year Ending September 30, d. The Adopted Budget shall be posted by the District Manager on the District s official website within thirty (30) days after adoption, and shall remain on the website for at least 2 years. SECTION 2. APPROPRIATIONS There is hereby appropriated out of the revenues of the District, for Fiscal Year 2018/2019, the sum of $ to be raised by the levy of assessments and/or otherwise, which sum is deemed by the Board to be necessary to defray all expenditures of the District during said budget year, to be divided and appropriated in the following fashion: TOTAL GENERAL FUND DEBT SERVICE FUND, SERIES 2013 DEBT SERVICE FUND, SERIES 2015 TOTAL ALL FUNDS $ $ $ $ SECTION 3. BUDGET AMENDMENTS Pursuant to Section , Florida Statutes, the District at any time within Fiscal Year 2018/2019 or within 60 days following the end of the Fiscal Year 2018/2019 may amend its Adopted Budget for that fiscal year as follows: a. The Board may authorize an increase or decrease in line item appropriations within a fund by motion recorded in the minutes if the total appropriations of the fund do not increase. b. The District Manager or Treasurer may authorize an increase or decrease in line item appropriations within a fund if the total appropriations of the fund do not increase and if the aggregate change in the original appropriation item does not exceed $10,000 or 10% of the original appropriation.

29 Agenda Page 29 c. By resolution, the Board may increase any appropriation item and/or fund to reflect receipt of any additional unbudgeted monies and make the corresponding change to appropriations or the unappropriated balance. d. Any other budget amendments shall be adopted by resolution and consistent with Florida law. The District Manager or Treasurer must establish administrative procedures to ensure that any budget amendments are in compliance with this Section 3 and Section , Florida Statutes, among other applicable laws. Among other procedures, the District Manager or Treasurer must ensure that any amendments to budget under subparagraphs c. and d. above are posted on the District s website within 5 days after adoption and remain on the website for at least 2 years. SECTION 4. EFFECTIVE DATE. This Resolution shall take effect immediately upon adoption. PASSED AND ADOPTED THIS 28 th DAY OF AUGUST, ATTEST: COMMUNITY DEVELOPMENT DISTRICT Secretary/Assistant Secretary By: Its:

30 3B. Agenda Page 30

31 Agenda Page 31 RESOLUTION A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE COMMUNITY DEVELOPMENT DISTRICT MAKING A DETERMINATION OF BENEFIT AND IMPOSING SPECIAL ASSESSMENTS FOR FISCAL YEAR 2018/2019; PROVIDING FOR THE COLLECTION AND ENFORCEMENT OF SPECIAL ASSESSMENTS, INCLUDING BUT NOT LIMITED TO PENALTIES AND INTEREST THEREON; CERTIFYING AN ASSESSMENT ROLL; PROVIDING FOR AMENDMENTS TO THE ASSESSMENT ROLL; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the Estancia at Wiregrass ( District ) is a local unit of special-purpose government established pursuant to Chapter 190, Florida Statutes, for the purpose of providing, operating and maintaining infrastructure improvements, facilities and services to the lands within the District; and WHEREAS, the District is located in Pasco County, Florida ( County ); and WHEREAS, the District has constructed or acquired various infrastructure improvements and provides certain services in accordance with the District s adopted capital improvement plan and Chapter 190, Florida Statutes; and WHEREAS, the Board of Supervisors ( Board ) of the District hereby determines to undertake various operations and maintenance and other activities described in the District s budget ( Adopted Budget ) for the fiscal year beginning October 1, 2018 and ending September 30, 2019 ( Fiscal Year 2018/2019 ), attached hereto as Exhibit A; and WHEREAS, the District must obtain sufficient funds to provide for the operation and maintenance of the services and facilities provided by the District as described in the Adopted Budget; and WHEREAS, the provision of such services, facilities, and operations is a benefit to lands within the District; and WHEREAS, Chapter 190, Florida Statutes, provides that the District may impose special assessments on benefitted lands within the District; and WHEREAS, it is in the best interests of the District to proceed with the imposition of the special assessments for operations and maintenance in the amount set forth in the Adopted Budget; and WHEREAS, the District has previously levied an assessment for debt service, which the District desires to collect for Fiscal Year 2018/2019; and

32 Agenda Page 32 WHEREAS, Chapter 197, Florida Statutes, provides a mechanism pursuant to which such special assessments may be placed on the tax roll and collected by the local tax collector ( Uniform Method ), and the District has previously authorized the use of the Uniform Method by, among other things, entering into agreements with the Property Appraiser and Tax Collector of the County for that purpose; and WHEREAS, it is in the best interests of the District to adopt the assessment roll ( Assessment Roll ) attached to this Resolution as Exhibit B, and to certify the portion of the Assessment Roll related to certain developed property ( Tax Roll Property ) to the County Tax Collector pursuant to the Uniform Method and to directly collect the portion of the Assessment Roll relating to the remaining property ( Direct Collect Property ), all as set forth in Exhibit B; and WHEREAS, it is in the best interests of the District to permit the District Manager to amend the Assessment Roll adopted herein, including that portion certified to the County Tax Collector by this Resolution, as the Property Appraiser updates the property roll for the County, for such time as authorized by Florida law. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE COMMUNITY DEVELOPMENT DISTRICT: SECTION 1. BENEFIT & ALLOCATION FINDINGS. The provision of the services, facilities, and operations as described in Exhibit A confers a special and peculiar benefit to the lands within the District, which benefit exceeds or equals the cost of the assessments. The allocation of the assessments to the specially benefitted lands is shown in Exhibits A and B, and is hereby found to be fair and reasonable. SECTION 2. ASSESSMENT IMPOSITION. Pursuant to Chapter 190, Florida Statutes, and using the procedures authorized by Florida law for the levy and collection of special assessments, a special assessment for operation and maintenance is hereby imposed and levied on benefitted lands within the District and in accordance with Exhibits A and B. The lien of the special assessments for operations and maintenance imposed and levied by this Resolution shall be effective upon passage of this Resolution. Moreover, pursuant to Section (4), Florida Statutes, the lien amount shall serve as the maximum rate authorized by law for operation and maintenance assessments. SECTION 3. COLLECTION AND ENFORCEMENT; PENALTIES; INTEREST. A. Tax Roll Assessments. The operations and maintenance special assessments and previously levied debt service special assessments imposed on the Tax Roll Property shall be collected at the same time and in the same manner as County taxes in accordance with the Uniform Method, as set forth in Exhibits A and B. B. Direct Bill Assessments. The operations and maintenance special assessments and previously levied debt service special assessments imposed on the Direct Collect

33 Agenda Page 33 Property shall be collected directly by the District in accordance with Florida law, as set forth in Exhibits A and B. Assessments directly collected by the District are due according to the following schedule: Debt service assessments 50% due no later than April 15, 2019, and 50% due no later than October 15, 2019 (provided however that to the extent the debt service assessments must be paid by law in a single payment, such full payment shall be deemed due and payable on April 15, 2019); and Operations and maintenance assessments 25% on each of the following dates, October 1, 2018, January 2, 2019, April 1, 2019, and July 1, In the event that an assessment payment is not made in accordance with the schedule stated above, the whole assessment including any remaining partial, deferred payments for Fiscal Year 2018/2019, shall immediately become due and payable; shall accrue interest, penalties in the amount of one percent (1%) per month, and all costs of collection and enforcement; and shall either be enforced pursuant to a foreclosure action, or, at the District s sole discretion, collected pursuant to the Uniform Method on a future tax bill, which amount may include penalties, interest, and costs of collection and enforcement. Any prejudgment interest on delinquent assessments shall accrue at the rate of any bonds secured by the assessments, or at the statutory prejudgment interest rate, as applicable. In the event an assessment subject to direct collection by the District shall be delinquent, the District Manager and District Counsel, without further authorization by the Board, may initiate foreclosure proceedings pursuant to Chapter 170, Florida Statutes, or other applicable law to collect and enforce the whole assessment, as set forth herein. C. Future Collection Methods. The decision to collect special assessments by any particular method e.g., on the tax roll or by direct bill does not mean that such method will be used to collect special assessments in future years, and the District reserves the right in its sole discretion to select collection methods in any given year, regardless of past practices. SECTION 4. ASSESSMENT ROLL. The Assessment Roll, attached to this Resolution as Exhibit B, is hereby certified for collection. That portion of the Assessment Roll which includes the Tax Roll Property is hereby certified to the County Tax Collector and shall be collected by the County Tax Collector in the same manner and time as County taxes. The proceeds therefrom shall be paid to the District. SECTION 5. ASSESSMENT ROLL AMENDMENT. The District Manager shall keep apprised of all updates made to the County property roll by the Property Appraiser after the date of this Resolution, and shall amend the Assessment Roll in accordance with any such updates, for such time as authorized by Florida law, to the County property roll. After any amendment of the Assessment Roll, the District Manager shall file the updates in the District records.

34 Agenda Page 34 SECTION 6. SEVERABILITY. The invalidity or unenforceability of any one or more provisions of this Resolution shall not affect the validity or enforceability of the remaining portions of this Resolution, or any part thereof. SECTION 7. EFFECTIVE DATE. This Resolution shall take effect upon the passage and adoption of this Resolution by the Board. PASSED AND ADOPTED this 28 th day of AUGUST, ATTEST: COMMUNITY DEVELOPMENT DISTRICT Secretary / Assistant Secretary By: Its: Exhibit A: Exhibit B: Budget Assessment Roll (Uniform Method) Assessment Roll (Direct Collect)

35 Fourth Order of Business Agenda Page 35

36 4A. Agenda Page 36

37 Agenda Page 37 MINUTES OF MEETING COMMUNITY DEVELOPMENT DISTRICT A Regular Meeting of the Board of Supervisors of the Estancia at Wiregrass Community Development District was held on Tuesday, July 24, 2018 at 5:30 p.m. in the Estancia at Wiregrass Clubhouse, 4000 Estancia Boulevard, Wesley Chapel, Florida. Present and constituting a quorum were: Kelly Evans Chairman F. Peter Williams Vice-Chairman Ed Andrews Assistant Secretary Also present were: Andy Mendenhall Jere Earlywine (via phone) Ken Roth Several Residents District Manager District Counsel Vivicon FIRST ORDER OF BUSINESS Call to Order/Roll Call Mr. Mendenhall called the meeting to order and called the roll. SECOND ORDER OF BUSINESS Audience Comments on Agenda Items Resident comments were received by the Board. Discussion ensued regarding road speed limit signage not being consistent with one village. On MOTION by Mr. Williams seconded by Mr. Andrews with all in favor to have road sign changed was approved. THIRD ORDER OF BUSINESS Consent Agenda A. Minutes of May 22, 2018 Meeting B. Financial Statements, June 2018 C. Acceptance of Financial Audit Report, FY 2019 On MOTION by Mr. Williams seconded by Mr. Andrews with all in favor the consent agenda was approved.

38 July 24, 2018 Agenda Page 38 Estancia at Wiregrass CDD FOURTH ORDER OF BUSINESS Consideration of Resolution , Amending Resolution to Reschedule the Hearing for Public Consideration of the Fiscal Year 2019 Budget Mr. Mendenhall explained the purpose of this resolution. On MOTION by Mr. Williams seconded by Mr. Andrews with all in favor Resolution amending Resolution to reschedule the hearing for public consideration of the fiscal year 2019 budget was adopted. FIFTH ORDER OF BUSINESS Staff Report A. District Counsel Mr. Earlywine presented his report to the Board. Discussion ensued regarding the breach of contract with the Luke Brothers. Mr. Earlywine will follow-up and provide an update to the Board at the August meeting. B. District Engineer None C. District Manager i. Consideration of Resolution , Statewide Mutual Aid Agreement This agreement is an opportunity to be part of a group of statewide agencies that if some sort of disaster befalls one of these agencies the other agencies have an option to offer assistance. Mr. Earlywine agreed with Mr. Mendenhall on the purpose of this agreement. On MOTION by Mr. Williams seconded by Mr. Andrews with all in favor resolution statewide mutual aid agreement was adopted. ii. Proposed FY2019 Meeting Schedule On MOTION by Mr. Williams seconded by Mr. Andrews with all in favor the proposed FY2019 meeting schedule was approved. Mr. Mendenhall discussed an accident which occurred. He has obtained the report and other information from FHP. 2

39 July 24, 2018 Agenda Page 39 Estancia at Wiregrass CDD A claim has been filed with Gieco who is the insurance company for both cars involved in the accident. The cost estimates for the repairs have been sent and they are waiting to hear back from the insurance company. SIXTH ORDER OF BUSINESS Supervisor Requests Mr. Williams asked about the pond report which should have been included in the agenda package. Mr. Mendenhall will follow-up on this matter and provide the report to Board once he receives it. SEVENTH ORDER OF BUSINESS Adjournment On MOTION by Mr. Williams seconded by Mr. Andrews with all in favor the meeting was adjourned. 3

40 4B Agenda Page 40

41 Agenda Page 41 Financial Report July 31, 2018 Prepared by

42 Agenda Page 42 Table of Contents FINANCIAL STATEMENTS Balance Sheet - All Funds. Page 1 Statement of Revenues, Expenditures and Changes in Fund Balance General Fund. Page 2-4 Debt Service Funds. Page 5-6 Capital Project Fund. Page 7 SUPPORTING SCHEDULES Non-Ad Valorem Special Assessments. Page 8 Cash and Investment Report. Page 9 Series 2015 Construction Report. Page Bank Reconciliation. Page 12 Check Register. Page 13-14

43 Agenda Page 43 Financial Statements (Unaudited) July 31, 2018

44 Agenda Page 44 Governmental Funds Balance Sheet July 31, 2018 ACCOUNT DESCRIPTION GENERAL FUND 2013 SERIES DEBT SERVICE FUND 2015 SERIES DEBT SERVICE FUND 2015 SERIES CAPITAL PROJECTS FUND TOTAL ASSETS Cash - Checking Account $ 156,880 $ - $ - $ - $ 156,880 Due From Other Funds - 9, ,398 Investments: Money Market Account 854, ,583 Construction Fund , ,614 Reserve Fund - 799, ,613-1,109,269 Revenue Fund - 627,491 41, ,770 Deposits 2, ,200 TOTAL ASSETS $ 1,013,663 $ 1,436,545 $ 350,892 $ 508,614 $ 3,309,714 LIABILITIES Accounts Payable $ 7,981 $ - $ - $ - $ 7,981 Accrued Expenses 1, ,293 Due To Other Funds 9, ,398 TOTAL LIABILITIES 18, ,672 FUND BALANCES Nonspendable: Deposits 2, ,200 Restricted for: Debt Service - 1,436, ,892-1,787,437 Capital Projects , ,614 Unassigned: 992, ,791 TOTAL FUND BALANCES $ 994,991 $ 1,436,545 $ 350,892 $ 508,614 $ 3,291,042 TOTAL LIABILITIES & FUND BALANCES $ 1,013,663 $ 1,436,545 $ 350,892 $ 508,614 $ 3,309,714 Report Date: 8/10/2018 Page 1