Agenda Page #1 LEXINGTON OAKS COMMUNITY DEVELOPMENT DISTRICT AUGUST 18, 2016 Agenda Package

Transcription

1 Agenda Page #1 COMMUNITY DEVELOPMENT DISTRICT AUGUST 18, 2016 Agenda Package

2 August 11, 2016 Lexington Oaks Severn Trent Services, Management Services Division 210 North University Drive, Suite 702 Coral Springs, Florida Telephone: (954) Fax: (954) Board of Supervisors Lexington Oaks Dear Board Members: The regular meeting of the Board of Supervisors of the Lexington Oaks Community Development District will be held on Thursday, August 18, 2016 at 6:30 p.m. at the Lexington Oaks Clubhouse, Lexington Oaks Boulevard, Wesley Chapel, Florida. Following is the advance agenda for this meeting: 1. Roll Call 2. Pledge of Allegiance 3. Public Comments on Agenda Items 4. Public Hearing A. Consider Resolution , Adopting the Budget for Fiscal Year 2017 B. Consider Resolution , Levy of Non Ad Valorem Assessments 5. Consider Resolution , Providing for Maintenance of Sidewalks Located Adjacent to District Owned Property 6. Attorney Report 7. Engineers Report 8. Manager s Report 9. Consent Agenda A. Minutes from July 21, 2016 B. Approval of the Financial Statements, Check Register and Invoices 10. Staff Report Site/Clubhouse Manager 11. Audience Comments 12. Supervisors Requests and Comments A. Capital Projects Discussion 13. Adjournment Enclosed for your review are the minutes of the July 21, 2016 meeting and the financials, check register and invoices for the period ending July 31, Any other supporting documentation for the items listed above that are not included in the package will be distributed at the meeting. The balance of the agenda is routine in nature and staff will present their reports at the meeting. In the meantime, if you have any questions, please contact me. Sincerely, Bob Nanni Bob Nanni/rh Agenda Page #2 cc: Tracy Robin Stephen Brletic Todd Wilhelmi

3 Fourth Order of Business Agenda Page #3

4 4A. Agenda Page #4

5 Agenda Page #5 RESOLUTION A RESOLUTION OF THE COMMUNITY DEVELOPMENT DISTRICT (THE DISTRICT ) RELATING TO THE ANNUAL APPROPRIATIONS OF THE DISTRICT AND ADOPTING THE BUDGET FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2016; AND ENDING SEPTEMBER 30, 2017, AND REFERENCING THE OPERATIONS AND MAINTENANCE SPECIAL ASSESSMENTS TO BE LEVIED BY THE DISTRICT FOR SAID FISCAL YEAR. WHEREAS, the District Manager has, prior to the fifteenth (15th) day in June, 2016, submitted to the Board of Supervisors (the "Board") a proposed budget for the next ensuing budget year 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 annual budget and any proposed long-term financial plan or program of the District for future operations and maintenance (the "Proposed Budget ) the District did file a copy of the Proposed Budget with the general purpose local governing authorities having jurisdiction over the area included in the District pursuant to the provisions of Section (2)(b), Florida Statutes; and WHEREAS, on May 19, 2016, the Board set August 18, 2016, as the date for 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, Section (2)(a), Florida Statutes requires that, prior to October 1 of each year, the District 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 the Proposed Budget on a cash flow budget basis, 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; and WHEREAS, Florida Statutes provides that the Annual Appropriation Resolution shall also fix the Operations and Maintenance Special Assessments upon each piece of property within the boundaries of the District benefited, specifically and peculiarly, by the operations and maintenance and/or capital improvement programs of the District, such levy representing the amount of District assessments necessary to provide for payment during the ensuing budget year of all properly authorized expenditures to be incurred by the District, including principal and interest of special revenue, capital improvement and/or benefit assessment bonds, in order for the District to exercise its various general and special powers to implement its single and specialized infrastructure provision purpose; and WHEREAS, the Board finds and determines that the non-ad valorem special assessments it imposes and levies by this Resolution for operations and maintenance on the parcels of property involved will constitute a mechanism by which the property owners lawfully and validly will reimburse the District for those certain special and peculiar benefits the District has determined are received by, and { DOC/2}

6 Agenda Page #6 flow to, the parcels of property from the systems, facilities and services being provided, and that the special and peculiar benefits are apportioned in a manner that is fair and reasonable in accordance with applicable assessment methodology and related case law; and WHEREAS, the Chair of the Board may designate the District Manager or other person to certify the non-ad valorem assessment roll to the Pasco County Tax Collector (the Tax Collector ) on compatible electronic medium tied to the property identification number so that the Tax Collector may merge that roll with others into the collection roll from which the November tax notice is to be printed and mailed; and WHEREAS, the proceeds from the collections of these imposed and levied non-ad valorem assessments shall be paid to the District; and WHEREAS, the Tax Collector, under the direct supervision of the Florida Department of Revenue performs the state work in preparing, mailing out, collecting and enforcing against delinquency the non-ad valorem assessments of the District using the Uniform Collection Methodology for non-ad valorem assessments; and WHEREAS, if the Pasco County Property Appraiser (the Property Appraiser ) and the Tax Collector have adopted a different technological procedure for certifying and merging the rolls, then that procedure must be worked out and negotiated with Board approval through the auspices of the District Manager before there are any deviations from the provisions of Section , Fla. Stat., and Rule 12D-18, Florida Administrative Code. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF COMMUNITY DEVELOPMENT DISTRICT; Section 1. dispositive. The provisions of the whereas clauses are true and correct and are incorporated herein as Section 2. Budget a. That the Board has reviewed the District Manager's Proposed Budget, a copy of which is on file with the office of the District Treasurer and the office of the Recording Secretary, and is hereby attached to this resolution, and hereby approves certain amendments thereto, as shown below. b. That the District Manager's Proposed Budget, as amended by the Board, is adopted hereby in accordance with the provisions of Section (2)(a), Florida Statutes and incorporated herein by reference; provided, however, that the comparative figures contained in the adopted budget may be revised subsequently as deemed necessary by the District Manager to reflect actual revenues and expenditures for the Fiscal Year 2015/2016 and/or revised projections for Fiscal Year 2016/2017. { DOC/2}

7 Agenda Page #7 c. That the adopted budget, as amended, shall be maintained in the office of the District Treasurer and the District Recording Secretary and identified as "The Budget for the Lexington Oaks for the Fiscal Year Ending September 30, 2017, as Adopted by the Board of Supervisors on August 18, Section 3. Appropriations That there be, and hereby is appropriated out of the revenues of the District, for the Fiscal Year beginning October 1, 2016, and ending September 30, 2017 the sum of ($ ) to be raised by the applicable imposition and levy by the Board of applicable non-ad valorem special assessments and 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 $ CAPITAL PROJECTS FUND $ ENTERPRISE FUNDS $ Total All Funds $ Section 4. Supplemental Appropriations The Board may authorize by resolution supplemental appropriations or revenue changes for any lawful purpose from funds on hand or estimated to be received within the fiscal year as follows: a. Board may authorize a transfer of the unexpended balance or portion thereof of any appropriation item. b. Board may authorize an appropriation from the unappropriated balance of any fund. c. Board may increase any revenue or income budget account to reflect receipt of any additional unbudgeted monies and make the corresponding change to appropriations or the unappropriated balance. The District Manager and Treasurer shall have the power within a given fund to authorize the transfer of any unexpended balance of any appropriation item or any portion thereof, provided such transfers do not exceed Ten Thousand ($10,000) Dollars or have the effect of causing more than 10% of the total appropriation of a given program or project to be transferred, previously approved transfers included. Such transfer shall not have the effect of causing a more than $10,000 or 10% increase, previously approved transfers included, to the original budget appropriation for the receiving program. Transfers within a program or project may be approved by the applicable designee and the District Manager or Treasurer. The District Manager or Treasurer must establish administrative procedures, { DOC/2}

8 Agenda Page #8 which require information on the request forms proving that such transfer requests comply with this section. Introduced, considered favorably, and adopted this 18 th day of August, ATTEST: COMMUNITY DEVELOPMENT DISTRICT By: Robert Nanni Secretary By: Jennifer Mooney Chair of the Board of Supervisors { DOC/2}

9 Agenda Page #9 Annual Operating and Debt Service Budget Fiscal Year 2017 Version 7 - Modified Tentative Budget: (Printed on 8/9/ :20 PM) Prepared by: Version 7

10 Agenda Page #10 Table of Contents Page # OPERATING BUDGET Budget Modifications 1 General Fund Summary of Revenues, Expenditures and Changes in Fund Balances Exhibit A - Allocation of Fund Balances. 5-6 General Fund - Hawthorne Gate Fund Summary of Revenues, Expenditures and Changes in Fund Balances.. 7 Exhibit B - Allocation of Fund Balances. 8 General Fund - Preakness Gate Fund Summary of Revenues, Expenditures and Changes in Fund Balances.. 9 Exhibit C - Allocation of Fund Balances. 10 Budget Narrative DEBT SERVICE BUDGETS Series Summary of Revenues, Expenditures and Changes in Fund Balances.. 18 Amortization Schedule.. 19 Series Summary of Revenues, Expenditures and Changes in Fund Balances.. 20 Amortization Schedule.. 21 Series 2011 Summary of Revenues, Expenditures and Changes in Fund Balances.. 22 Amortization Schedule.. 23 Budget Narrative 24 SUPPORTING BUDGET SCHEDULES Non-Ad Valorem Assessment Summary Version 7

11 Agenda Page #11 Lexington Oaks Budget Modifications Fiscal Year 2017 Version 7

12 Agenda Page #12 Budget Modifications FY 2017 The following changes have been made since the June 2, 2016 meeting. Revenue Approximately 5% increase. Administration ProfServ-Engineering, reduced from $25,000 to $20,000. ProfServ-Management Consulting Services, reduced from $56,000 to $54,042. Field R&M-Sidewalks, changed from $10,000 to zero. Parks and Recreation - General Payroll-Salaries, reduced from $85,000 to $74,000. Payroll-Site Manager, increased from $46,505 to $47,000. The following changes have been made since the June 16, 2016 workshop meeting. Parks and Recreation - General Payroll-Site Manager, increased from $47,000 to $47,500. Field Utilities The following changes have been made since the July 21, 2016 meeting. R&M-Plant Replacement, decreased from $25,000 to $21,000. R&M-Tree Replacement, decreased from $17,500 to $12,000. Utility - Gas, increased from $20,000 to $23,000. The following changes have been made since the August 4, 2016 workshop meeting. Parks and Recreation - General Miscellaneous-Contingency, remove the $56,600. Annual Operating and Debt Service Budget Fiscal Year 2017 Version 7 Page 1

13 Agenda Page #13 Lexington Oaks Operating Budget Fiscal Year 2017 Version 7

14 Agenda Page #14 General Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2017 Proposed Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL BUDGET THRU AUG - PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2015 FY 2016 JULY-2016 SEPT-2016 FY 2016 FY 2017 REVENUES Interest - Investments $ 2,240 $ 500 $ 2,257 $ 451 $ 2,708 $ 2,000 Room Rentals 8,959 6,000 5,964 1, ,157 6,000 Interest - Tax Collector Special Assmnts- Tax Collector 1,180,412 1,223,511 1,223,513-1,223,513 1,249,250 Special Assmnts- Delinquent 1, Special Assmnts- Discounts (43,238) (48,940) (45,387) - (45,387) (49,970) Settlements 19, Other Miscellaneous Revenues 11,776 3,500 20,608-20,608 3,500 TOTAL REVENUES 1,181,384 1,184,571 1,206,955 1,644 1,208,599 1,210,780 EXPENDITURES Administrative P/R-Board of Supervisors 23,400 24,000 19,400 4,000 23,400 23,000 Payroll-Other 3,203 3,300 3, ,905 3,300 FICA Taxes 1,790 1,836 1, ,790 1,760 Unemployment Compensation ProfServ-Arbitrage Rebate 1,200 1, ,200 1,200 ProfServ-Dissemination Agent 1,000 1,000 1,000-1,000 1,000 ProfServ-Engineering 27,766 15,000 25,753 12,877 38,630 20,000 ProfServ-Legal Services 17,104 7,500 6,529 2,176 8,705 10,000 ProfServ-Mgmt Consulting Serv 54,042 54,042 45,035 9,007 54,042 54,042 ProfServ-Property Appraiser ProfServ-Special Assessment 12,793 12,793 12,793-12,793 12,793 ProfServ-Trustee Fees 6,095 8,421 8,312-8,312 8,421 ProfServ-Web Site Development 587 5, ,000 5,155 2,000 Auditing Services 11,500 11,500 11,500-11,500 11,500 Communication - Telephone Postage and Freight 1,721 2,000 1, ,630 2,000 Insurance - General Liability 11,823 13,842 11,863-11,863 8,887 Printing and Binding 4,992 4,250 2, ,161 4,250 Legal Advertising 1, ,181-2,181 1,500 Misc-Bank Charges Misc-Assessmnt Collection Cost 20,230 24,470 23,563-23,563 24,985 Misc-County Tax Bill 2,715 2,800 2,892-2,892 2,800 Office Supplies Annual District Filing Fee Total Administrative 205, , ,590 35, , ,818 Water-Sewer Comb Services Utility - Water & Sewer 11, Total Water-Sewer Comb Services 11, Annual Operating and Debt Service Budget Fiscal Year 2017 Version 7 Page 2

15 Agenda Page #15 General Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2017 Proposed Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL BUDGET THRU AUG - PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2015 FY 2016 JULY-2016 SEPT-2016 FY 2016 FY 2017 Flood Control/Stormwater Mgmt Contracts-Lake and Wetland 23,880 23,880 19,900 3,980 23,880 23,880 R&M-Lake - 4, ,825 4,500 4,500 R&M-Mitigation 2,600 5,000 1,200 3,800 5,000 5,000 Total Flood Control/Stormwater Mgmt 26,480 33,380 21,775 11,605 33,380 33,380 Field Contracts-Landscape 225, , ,721 33, , ,200 Insurance - Property 7,044 7,748 5,069-5,069 7,436 R&M-Entry Feature 2,184 3,500 13,629-13,629 6,000 R&M-Irrigation 9,682 10,000 21,397-21,397 20,000 R&M-Mulch 7,737 18,000 14,430 3,570 18,000 14,000 R&M-Plant Replacement 27,965 23,000 11,725 11,275 23,000 21,000 R&M-Sidewalks - 10,000 10,000-10,000 - R&M-Annuals 12,544 23,000 5,800 11,500 17,300 17,400 R&M-Tree Replacement 5,100 7, ,500 6,000 12,000 R&M-Sidewalks Pressure Washing ,000 Capital Improvements - 40,000 31,894 8,106 40,000 50,000 Total Field 298, , ,165 73, , ,036 Utilities Contracts-Solid Waste Services 1,507 1,507 1, ,507 1,507 Communication - Teleph - Field 3,837 4,000 4, ,621 4,000 Electricity - General 140, , ,212 22, , ,000 Utility - Gas 1,961 30,000 18,243 3,649 21,892 23,000 Utility - Water & Sewer - 15,000 14,021 2,804 16,825 15,000 Total Utilities 148, , ,416 30, , ,507 Parks and Recreation - General Payroll-Salaries 112,121 77,396 58,578 11,716 70,294 74,000 Payroll - Site Manager - 46,505 37,050 7,410 44,460 47,500 FICA Taxes 8,575 9,478 7,315 1,463 8,778 9,295 Workers' Compensation 2,467 2,533 4,375-4,375 4,000 Unemployment Compensation Contracts-Security Services ,350 Contracts-Pools 14,400 14,400 12,250 2,500 14,750 15,600 Contracts-Security Alarms - 1, Contracts-Sheriff 18,744 17,350 15,280 3,056 18,336 17,350 Contracts-Security System - TIP 54,224 56,400 45,022 5,790 50,812 34,738 R&M-Clubhouse 34,225 15,000 11,301 3,699 15,000 17,000 R&M-Parks 464 7,500 5,581 1,919 7,500 10,000 R&M-Pools 5,147 6,000 10,764-10,764 10,000 R&M-Fitness Center 3,448 8,000 10,364-10,364 12,000 Misc-Property Taxes - - 1,989-1,989 1,989 Misc-Security ,832 Holiday Lighting & Decorations 2,500 4,800 4,865-4,865 4,800 Annual Operating and Debt Service Budget Fiscal Year 2017 Version 7 Page 3

16 Agenda Page #16 General Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2017 Proposed Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL BUDGET THRU AUG - PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2015 FY 2016 JULY-2016 SEPT-2016 FY 2016 FY 2017 Op Supplies - Clubhouse 17,439 12,000 8,941 3,059 12,000 12,000 Capital Outlay 130, Total Parks and Recreation - General 405, , ,114 40, , ,112 Reserves Reserve - Clubhouse - 2, ,567 Reserve - Drainage Structure - 10,000 39,428-39,428 10,000 Reserve - Fitness Center Reserve - Parks - 1, ,000 Reserve - Pool - 35,000 1,452-1,452 35,000 Reserve - Ponds 1,886 42, , ,850 42,283 Reserve - Sidewalks 18,330 46,144 21, ,305 46,144 Total Reserves 20, , , , ,927 TOTAL EXPENDITURES & RESERVES 1,115,123 1,184,571 1,082, ,911 1,273,996 1,210,780 Excess (deficiency) of revenues Over (under) expenditures 66, ,870 (190,267) (65,397) 0 Net change in fund balance 66, ,870 (190,267) (65,397) 0 FUND BALANCE, BEGINNING 377, , , , ,676 FUND BALANCE, ENDING $ 444,073 $ 444,073 $ 568,943 $ (190,267) $ 378,676 $ 378,676 Annual Operating and Debt Service Budget Fiscal Year 2017 Version 7 Page 4

17 Agenda Page #17 General Fund Exhibit "A" Allocation of Fund Balances AVAILABLE FUNDS Amount Beginning Fund Balance - Fiscal Year 2017 $ 378,676 Net Change in Fund Balance - Fiscal Year Reserves - Fiscal Year 2017 Additions 140,927 Total Funds Available (Estimated) - 9/30/ ,603 ALLOCATION OF AVAILABLE FUNDS Nonspendable Fund Balance Prepaid Items 361 Assigned Fund Balance Operating Reserve -Operating Capital 140,556 (1) -Clubhouse Previous Years 9,910 -Clubhouse Previous Years Expenditures (1,997) -Clubhouse FY ,567 -Clubhouse FY ,567 -Clubhouse FY ,567 15,613 -Drainage Structure FY ,000 -Drainage Structure FY 2016 Expenditures (39,428) -Drainage Structure FY ,000 (19,428) -Fitness Center previous years 3,654 -Fitness Center FY Fitness Center FY Fitness Center FY ,453 -Park Previous Years 2,500 -Park FY ,250 -Park FY ,250 -Park FY ,000 9,000 -Pool FY ,000 -Pool FY ,000 -Pool FY 2016 Expenditures (1,452) -Pool FY , ,548 Annual Operating and Debt Service Budget Fiscal Year 2017 Version 7 Page 5

18 Agenda Page #18 General Fund continued -Ponds Previous Years 165,858 -Ponds Previous Years Expenditures (38,608) -Ponds FY ,283 -Ponds FY 2015 Expenditures (1,886) -Ponds FY ,283 -Ponds FY 2016 Expenditures (145,850) -Ponds FY , ,363 -Sidewalks Previous Years 95,047 -Sidewalks Previous Years Expenditures (36,717) -Sidewalks FY ,144 -Sidewalks FY 2015 Expenditures (18,330) -Sidewalks FY ,144 -Sidewalks FY 2016 Expenditures (21,295) -Sidewalks FY , ,137 Subtotal 378,686 Total Allocation of Available Funds 519,603 Total Unassigned (undesignated) Cash $ 0 Notes (1) Represents approximately more than 2 months of operating expenditures Annual Operating and Debt Service Budget Fiscal Year 2017 Version 7 Page 6

19 Agenda Page #19 General Fund - Hawthorne Gate Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2017 Proposed Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL BUDGET THRU AUG - PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2015 FY 2016 JULY-2016 SEPT-2016 FY 2016 FY 2017 REVENUES Interest - Investments $ 37 $ 12 $ 61 $ 12 $ 73 $ 40 Special Assmnts- Tax Collector 9,929 10,673 10,673-10,673 10,673 Special Assmnts- Discounts (366) (427) (396) - (396) (427) Settlements Gate Bar Code/Remotes TOTAL REVENUES 10,059 10,342 11, ,441 10,586 EXPENDITURES Administrative Misc-Assessmnt Collection Cost Total Administrative Gatehouse Communication - Telephone Electricity - Gate R&M-Gate 3,480 2,760 5,672-5,672 2,760 Total Gatehouse 4,621 3,910 6, ,016 4,154 Reserves Reserve - Gate Reserve - Roadways - 2, ,835 Reserve - Sidewalks - 2, ,444 Total Reserves - 6, ,219 TOTAL EXPENDITURES & RESERVES 4,791 10,342 6, ,222 10,586 Excess (deficiency) of revenues Over (under) expenditures 5,268-4,431 (212) 4,219 - TOTAL OTHER SOURCES (USES) Net change in fund balance 5,268-4,431 (212) 4,219 - FUND BALANCE, BEGINNING 17,391 22,659 22,659-22,659 26,878 FUND BALANCE, ENDING $ 22,659 $ 22,659 $ 27,090 $ (212) $ 26,878 $ 26,878 Annual Operating and Debt Service Budget Fiscal Year 2017 Version 7 Page 7

20 Agenda Page #20 General Fund Exhibit "B" Allocation of Fund Balances AVAILABLE FUNDS Amount Beginning Fund Balance - Fiscal Year 2017 $ 26,878 Net Change in Fund Balance - Fiscal Year Reserves - Fiscal Year 2017 Additions 6,219 Total Funds Available (Estimated) - 9/30/ ,097 ALLOCATION OF AVAILABLE FUNDS Assigned Fund Balance Operating Reserve -Operating Capital 1,092 (1) -Gate FY Gate FY ,880 -Roadways Previous Years 11,156 -Roadways FY ,835 -Roadways FY ,835 -Roadways FY ,835 19,661 -Sidewalks Previous Years 7,564 -Sidewalks FY 2014 Expenditures (6,260) -Sidewalks FY ,444 -Sidewalks FY ,444 -Sidewalks FY ,444 8,636 Subtotal 30,177 Total Allocation of Available Funds 31,269 Total Unassigned (undesignated) Cash $ 1,828 Notes (1) Represents approximately 3 months of operating expenditures Annual Operating and Debt Service Budget Fiscal Year 2017 Version 7 Page 8

21 Agenda Page #21 General Fund - Preakness Gate Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2017 Proposed Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL BUDGET THRU AUG - PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2015 FY 2016 JULY-2016 SEPT-2016 FY 2016 FY 2017 REVENUES Interest - Investments $ 82 $ 43 $ 128 $ 26 $ 154 $ 80 Special Assmnts- Tax Collector 13,410 14,410 14,410-14,410 14,410 Special Assmnts- Discounts (494) (576) (535) - (535) (576) Gate Bar Code/Remotes TOTAL REVENUES 13,508 13,932 14, ,617 14,114 EXPENDITURES Administrative Misc-Assessmnt Collection Cost Total Administrative Gatehouse Communication - Telephone Electricity - Gate R&M-Gate 1,116 2,000 6,948-6,948 2,000 Total Gatehouse 2,300 3,200 7, ,132 3,382 Reserves Reserve - Gate Reserve - Roadways - 4, ,893 Reserve - Sidewalks - 4, ,611 Total Reserves - 10, ,444 TOTAL EXPENDITURES & RESERVES 2,530 13,932 8, ,410 14,114 Excess (deficiency) of revenues Over (under) expenditures 10,978-6,378 (172) 6,206 - TOTAL OTHER SOURCES (USES) Net change in fund balance 10,978-6,378 (172) 6,206 - FUND BALANCE, BEGINNING 40,466 51,444 51,444-51,444 57,650 FUND BALANCE, ENDING $ 51,444 $ 51,444 $ 57,822 $ (172) $ 57,650 $ 57,650 Annual Operating and Debt Service Budget Fiscal Year 2017 Version 7 Page 9

22 Agenda Page #22 General Fund Exhibit "C" Allocation of Fund Balances AVAILABLE FUNDS Amount Beginning Fund Balance - Fiscal Year 2017 $ 57,650 Net Change in Fund Balance - Fiscal Year Reserves - Fiscal Year 2017 Additions 10,444 Total Funds Available (Estimated) - 9/30/ ,094 ALLOCATION OF AVAILABLE FUNDS Assigned Fund Balance Operating Reserve -Operating Capital 918 (1) -Gate FY Gate FY ,880 -Roadways Previous Years 18,984 -Roadways FY ,893 -Roadways FY ,893 -Roadways FY ,893 33,663 -Sidewalks FY ,611 -Sidewalks FY ,611 -Sidewalks FY ,611 13,833 Subtotal 49,376 Total Allocation of Available Funds 50,294 Total Unassigned (undesignated) Cash $ 17,801 Notes (1) Represents approximately 3 months of operating expenditures Annual Operating and Debt Service Budget Fiscal Year 2017 Version 7 Page 10

23 Lexington Oaks Agenda Page #23 General Funds Budget Narrative Fiscal Year 2017 Revenue Interest-Investments The District earns interest income on their checking account and other Money Market accounts. Room Rentals The District receives revenue from the rental of the Clubhouse for events. Special Assessment-Tax Collector The District will levy a Non-Ad Valorem assessment on all sold and platted parcels within the District in order to pay for the operating expenditures during the Fiscal Year. Special Assessment-Discounts Per Section and Section of the Florida Statutes, discounts are allowed for early payment of assessments collected by the Tax Collector and only when the Tax Collector is using the uniform methodology. The budgeted amount for the fiscal year is calculated at 4% of the anticipated Non-Ad Valorem assessments. Miscellaneous Revenue The District receives revenue from fitness lessons and various other small charges. Expenditures Expenditures Administrative P/R-Board of Supervisors Chapter 190 of the Florida Statutes allows for a member of the Board of Supervisors to be compensated for a meeting attendance and to receive $200 per meeting. The amount for the fiscal year is based upon all supervisors attending to the meetings. Payroll-Other ADP administration fees charged for the payroll services. FICA Taxes Payroll Social Security and Medicare taxes on Board of Supervisor s compensation. The budgeted amount for the fiscal year is calculated at 7.65% of the total Board of Supervisor s payroll expenditures. Unemployment Compensation The payroll unemployment taxes are based on the first $7,000 of wages paid to each Board of Supervisor in a calendar year. The budgeted amount for the fiscal year is calculated at 0.10% of the total Board of Supervisor s payroll expenditures. Professional Services-Arbitrage Rebate Calculation The District will contract with an independent certified public accountant to annually 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. Annual Operating and Debt Service Budget Fiscal Year 2017 Version 6 Page 11

24 Lexington Oaks Agenda Page #24 General Funds Budget Narrative Fiscal Year 2017 Expenditures Administrative (continued) Professional Services-Engineering The District's engineer will provide general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review of invoices, and other specifically requested assignments. Professional Services-Legal Services The District's legal counsel will provide general legal services to the District, i.e. attendance and preparation for monthly meetings, review of operating and maintenance contracts, and other specifically requested assignments. Professional Services-Management Services The District receives Management, Accounting and Administrative services as part of a Management Agreement with Severn Trent Environmental Services, Inc. The budgeted amount for the fiscal year is based on the contracted fees outlined in Exhibit "A" of the Management Agreement. Professional-Property Appraiser The District reimburses the Pasco County Property Appraiser for her or his necessary administrative costs. This includes the annual fee of $150 to expedite the annual processing that elects to use the Uniform Method of Collection. Professional Service-Special Assessment Administrative costs to put the District s assessments on the Tax Roll Accounting Services Professional Service-Trustee Fees The District issued Series of Special Assessment Bonds that are deposited with a Trustee to handle all trustee matters. The annual trustee fee is based on standard fees plus any out of pockets expenses. Professional Service-Web Site Development The District contracts services for a website at that contains information about the District. Auditing Services The District is required to conduct an annual audit of its financial records by an Independent Certified Public Accounting Firm. budgeted amount for the fiscal year is based on contracted fees from an existing engagement letter. The Communication Telephone This line item is for the cell phone. Postage & Freight 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 currently with Florida Municipal Insurance. FMI Insurance specializes in providing insurance coverage to governmental agencies. The budgeted amount for the fiscal year is based on prior year premiums plus any anticipated market adjustments. Printing & 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. Annual Operating and Debt Service Budget Fiscal Year 2017 Version 6 Page 12

25 Lexington Oaks Agenda Page #25 General Funds Budget Narrative Fiscal Year 2017 Expenditures Administrative (continued) Misc-Bank Charges This includes bank charges and any other miscellaneous expenses that incurred during the year. Misc-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 budget for collection costs was based on a maximum of 2% of the anticipated assessment collections. Misc-County Tax Bill The District pays a Non-Ad Valorem Assessments for Pasco County Stormwater and Solid Waste Assessment (Clubhouse) to the Pasco County. Office Supplies Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects. Annual District Filling Fee The District is required to pay an annual fee of $175 to the Department of Community Affairs. Operations and Maintenance: Expenditures Flood Control/Stormwater Mgmt Contracts-Lake and Wetland The District has contracted services with American Ecosystem for treatment of the Lakes and Wetlands for $1,990 per month. R&M-Lake This is for any maintenance required for the lakes of the District. R&M-Mitigation This is for monitoring the water level and vegetation of the lakes and wetland of the District. Annual Operating and Debt Service Budget Fiscal Year 2017 Version 6 Page 13

26 Lexington Oaks Agenda Page #26 General Funds Budget Narrative Fiscal Year 2017 Expenditures Field Contracts-Landscape The District has a contract for landscape maintenance with LMP that includes general mowing, edging and maintenance. - One Source monthly fee $16, Insurance-Property The District's Property Insurance policy is currently with Florida Municipal Insurance. FMI Insurance specializes in providing insurance coverage to governmental agencies. The budgeted amount for the fiscal year is based on prior year premiums plus any anticipated market adjustments. R&M-Entry Feature This is for the repairs and maintenance of the Entry Feature and monuments for the District. R&M-Irrigation The landscaping contract with LMP includes repairs and maintenance of the irrigation system in the District. - One Source R&M-Mulch The landscaping contract with LMP includes maintenance of mulch. R&M-Plant Replacement The landscaping contract with LMP includes maintenance for new sod, clean up, and new flowering. - One Source R&M-Annuals The landscaping contract with LMP includes maintenance of annuals. R&M-Tree Replacement The landscaping contract with LMP to replace trees. R&M-Sidewalks Pressure Washing District sidewalks pressure washing. Capital Improvements-General This is for any capital improvements that may be needed by the District. Expenditures Utilities Contracts-Solid Waste Services The District has a contract for solid waste services with Waste Services of Florida, Inc. for $ per month. Communication-Telephone-Field This is for the telephone usage in the field by the District. - Verizon phone line # (813) Electricity-General Electrical usage for District facilities and assets. Budget based on historical costs. Annual Operating and Debt Service Budget Fiscal Year 2017 Version 6 Page 14

27 Lexington Oaks Agenda Page #27 General Funds Budget Narrative Fiscal Year 2017 Expenditures Utilities (continued) Utility-Gas This is for the gas pool heater. Utility-Water & Sewer The Water and Sewer expense is based on historical usage. - Pasco County Utilities Service Expenditures Parks and Recreation- General Payroll-Salaries This is the payroll for the Parks and Recreation staff. Payroll-Site Manager This is the payroll for the Site Manger FICA Taxes The payroll taxes are calculated at 7.65% of the total Park & Recreation and Lifeguards payroll expenditures. Workers Compensation This is the workers compensation for the Parks and Recreation staff. Unemployment Compensation The payroll unemployment taxes are based on the first $7,000 of wages paid to each employee in a calendar year. The budgeted amount for the fiscal year is calculated at 0.10% of the Park & Recreation and Lifeguards payroll expenditures. Contract-Security Services The District has a contract with Innova Technologies for the yearly maintenance of the security system for $15,350 per year. Contract-Pools The District has a contract with Positive Pool Service for $1,300 per month service of the pool at the Recreation Center. Contract Security Alarms The District has a contract with USA Electrical Services, Inc. for monitoring the security cameras and maintenance and repairs. Contracts-Sheriff The District has a contract with the Pasco Sheriff s Office that provides off duty sheriff s patrol. Contracts-Security System - TIP The District has a contract with TIP Capital for security camera lease at $2, per month. R&M-Clubhouse This includes the repairs and maintenance of the Clubhouse and its equipment at the Recreation Center. R&M-Parks This includes the repairs and maintenance of the Parks in the District. R&M-Pools This includes any non-contractual repairs and maintenance of the pool at the Recreation Center. R&M-Fitness Center This includes any repairs and maintenance to the new fitness center. Annual Operating and Debt Service Budget Fiscal Year 2017 Version 6 Page 15

28 Lexington Oaks Agenda Page #28 General Funds Budget Narrative Fiscal Year 2017 Expenditures Parks and Recreation- General (continued) Miscellaneous-Property Taxes Personal property taxes for the security equipment lease for TIP Capital. Miscellaneous-Security This is for non-contractual security equipment expenditures. Holiday Lighting & Decorations This includes holidays lighting decoration throughout the District. Op Supplies-Clubhouse This includes drinking water and miscellaneous supplies needed for the Recreation Center. Expenditures - Gatehouse Communication-Telephone-Field This is for the telephone usage in the Hawthorne Gate and Preakness Gate. - Verizon phone line # Verizon phone line # Electricity Gate Electrical usage for the Hawthorn gate and Preakness Gate. - Withlacoochee River Electric R&M-Gate This includes the repairs and maintenance of the Hawthorne Gate and Preakness Gate. - Accurate Electronics Inc. Expenditures Reserve Reserve-Clubhouse This is the reserves for the repairs and replacement cost for a 15 year reserve period (reserve study) for the District s clubhouse. Reserve-Drainage Structure Drainage improvement plan. Reserve-Fitness Center This is the reserves for the repairs and replacement cost for a 15 year reserve period (reserve study) for the District s fitness center. Reserve-Gate This is the reserve for the replacement of gates or large components. Reserve-Parks This is the reserves for the repairs and replacement of the parks and courts for the District. Reserve-Pool This is the reserves for the replacing cost for a 15 year reserve period of the pool for the District. Annual Operating and Debt Service Budget Fiscal Year 2017 Version 6 Page 16

29 Lexington Oaks Agenda Page #29 General Funds Budget Narrative Fiscal Year 2017 Expenditures Reserve (continued) Reserve-Sidewalks This is the reserves for the replacement cost for a 15 year reserve period (reserve study) of sidewalks for the District (includes Hawthorne and Preakness gates. Reserve-Ponds This is the reserves for the restoring cost for a 15 year reserve period (reserve study) of the ponds for the District. Annual Operating and Debt Service Budget Fiscal Year 2017 Version 6 Page 17

30 Agenda Page #30 Lexington Oaks Debt Service Budgets Fiscal Year 2017 Version 7

31 Agenda Page #31 Series 2008A-1 Debt Service Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2017 Proposed Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL BUDGET THRU AUG - PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2015 FY 2016 JULY-2016 SEP-2015 FY 2016 FY 2017 REVENUES Interest - Investments $ 77 $ 70 $ 120 $ 24 $ 144 $ 80 Special Assmnts- Tax Collector 248, , , , ,313 Special Assmnts- Delinquent Special Assmnts- Discounts (9,095) (9,933) (9,211) - (9,211) (9,933) TOTAL REVENUES 239, , , , ,460 EXPENDITURES Administrative Misc-Assessmnt Collection Cost 4,256 4,966 4,782-4,782 4,966 Total Administrative 4,256 4,966 4,782-4,782 4,966 Debt Service Principal Debt Retirement A-1 190, , , , ,000 Interest Expense Series A-1 44,383 36,156 36,156-36,156 27,712 Total Debt Service 234, , , , ,712 TOTAL EXPENDITURES 238, , , , ,678 Excess (deficiency) of revenues Over (under) expenditures 1,245 2,328 3, , OTHER FINANCING SOURCES (USES) Contribution to (Use of) Fund Balance - 2, TOTAL OTHER SOURCES (USES) - 2, Net change in fund balance 1,245 2,328 3, , FUND BALANCE, BEGINNING 92,347 93,592 93,592-93,592 96,900 FUND BALANCE, ENDING $ 93,592 $ 95,920 $ 96,876 $ 24 $ 96,900 $ 97,682 Annual Operating and Debt Service Budget Fiscal Year 2017 Version 7 Page 18

32 Agenda Page #32 Series 2008A-1 Debt Service Fund Amortization Schedule SPECIAL ASSESSMENT BONDS, SERIES 2008A-1 Period Regular Coupon Outstanding Annual Debt Ending Principal Rate Interest Principal Service 11/1/ % $13,856 $640,000 5/1/2017 $205, % $13,856 $435,000 $232,712 11/1/ % $9,418 $435,000 5/1/2018 $215, % $9,418 $220,000 $233,836 11/1/ % $4,763 $220,000 5/1/2019 $220, % $4,763 $0 $229,526 Total $640,000 $56,074 $696,074 Annual Operating and Debt Service Budget Fiscal Year 2017 Version 6 Page 19

33 Agenda Page #33 Series 2008A-2 Debt Service Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2017 Proposed Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL BUDGET THRU AUG - PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2015 FY 2016 JULY-2016 SEPT-2016 FY 2016 FY 2017 REVENUES Interest - Investments $ 57 $ 55 $ 89 $ 18 $ 107 $ 60 Special Assmnts- Tax Collector 156, , , , ,608 Special Assmnts- Prepayment Special Assmnts- Discounts (5,772) (6,264) (5,810) - (5,810) (6,264) TOTAL REVENUES 150, , , , ,404 EXPENDITURES Administrative Misc-Assessmnt Collection Cost 2,684 3,132 3,016-3,016 3,132 Total Administrative 2,684 3,132 3,016-3,016 3,132 Debt Service Principal Debt Retirement A-2 70,000 70,000 70,000-70,000 75,000 Prepayments Series A-2 10, Interest Expense Series A-2 77,433 73,781 73,781-73,781 70,372 Total Debt Service 157, , , , ,372 TOTAL EXPENDITURES 160, , , , ,504 Excess (deficiency) of revenues Over (under) expenditures (9,224) 3,486 4, ,108 1,900 OTHER FINANCING SOURCES (USES) Contribution to (Use of) Fund Balance - 3, ,900 TOTAL OTHER SOURCES (USES) - 3, ,900 Net change in fund balance (9,224) 3,486 4, ,108 1,900 FUND BALANCE, BEGINNING 100,133 90,909 90,909-90,909 95,017 FUND BALANCE, ENDING $ 90,909 $ 94,395 $ 94,999 $ 18 $ 95,017 $ 96,917 Annual Operating and Debt Service Budget Fiscal Year 2017 Version 7 Page 20

34 Agenda Page #34 Series 2008A-2 Debt Service Fund Amortization Schedule SPECIAL ASSESSMENT BONDS, SERIES 2008A-2 Period Regular Coupon Outstanding Annual Debt Ending Principal Rate Interest Principal Service 11/1/ % $35,186 $1,445,000 5/1/2017 $75, % $35,186 $1,370,000 $145,372 11/1/ % $33,360 $1,370,000 5/1/2018 $80, % $33,360 $1,290,000 $146,719 11/1/ % $31,412 $1,290,000 5/1/2019 $80, % $31,412 $1,210,000 $142,823 11/1/ % $29,464 $1,210,000 5/1/2020 $85, % $29,464 $1,125,000 $143,927 11/1/ % $27,394 $1,125,000 5/1/2021 $90, % $27,394 $1,035,000 $144,788 11/1/ % $25,202 $1,035,000 5/1/2022 $95, % $25,202 $940,000 $145,405 11/1/ % $22,889 $940,000 5/1/2023 $100, % $22,889 $840,000 $145,778 11/1/ % $20,454 $840,000 5/1/2024 $105, % $20,454 $735,000 $145,908 11/1/ % $17,897 $735,000 5/1/2025 $110, % $17,897 $625,000 $145,795 11/1/ % $15,219 $625,000 5/1/2026 $115, % $15,219 $510,000 $145,438 11/1/ % $12,419 $510,000 5/1/2027 $120, % $12,419 $390,000 $144,837 11/1/ % $9,497 $390,000 5/1/2028 $125, % $9,497 $265,000 $143,993 11/1/ % $6,453 $265,000 5/1/2029 $130, % $6,453 $135,000 $142,906 11/1/ % $3,287 $135,000 5/1/2030 $135, % $3,287 $0 $141,575 Total $1,445,000 $580,261 $2,025,261 Annual Operating and Debt Service Budget Fiscal Year 2017 Version 6 Page 21

35 Agenda Page #35 Series 2011 Debt Service Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2017 Proposed Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL BUDGET THRU AUG - PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2015 FY 2016 JULY-2016 SEPT-2016 FY 2016 FY 2017 REVENUES Interest - Investments $ 63 $ 50 $ 189 $ 38 $ 227 $ 60 Special Assmnts- Tax Collector 323, , , , ,999 Special Assmnts- Discounts (11,818) (12,960) (12,019) - (12,019) (12,960) TOTAL REVENUES 312, , , , ,099 EXPENDITURES Administrative Misc-Assessmnt Collection Cost 5,553 6,480 6,240-6,240 6,480 Total Administrative 5,553 6,480 6,240-6,240 6,480 Debt Service Principal Debt Retirement 120, , , , ,000 Principal Prepayments 10,000-10,000-10,000 - Interest Expense 179, , , , ,355 Total Debt Service 309, , , , ,355 TOTAL EXPENDITURES 315, , , , ,835 Excess (deficiency) of revenues Over (under) expenditures (2,506) 4,189 (4,491) 38 (4,453) 4,264 OTHER FINANCING SOURCES (USES) Contribution to (Use of) Fund Balance - 4, ,264 TOTAL OTHER SOURCES (USES) - 4, ,264 Net change in fund balance (2,506) 4,189 (4,491) 38 (4,453) 4,264 FUND BALANCE, BEGINNING 250, , , , ,994 FUND BALANCE, ENDING $ 248,447 $ 252,636 $ 243,956 $ 38 $ 243,994 $ 248,258 Annual Operating and Debt Service Budget Fiscal Year 2017 Version 7 Page 22

36 Agenda Page #36 Series 2011 Debt Sevice Fund Amortization Schedule Series 2011 Special Assessment Revenue Refunding Bonds (ex Series 2002) Regular Interest Interest Outstanding Annual Date Principal Rates Expense Principal Debt Svc $3,935, /1/ % / 5.65% $85,178 $3,250,000 5/1/2017 $130, % / 5.65% $85,178 $3,120,000 $300,355 11/1/ % / 5.65% $82,708 $3,120,000 5/1/2018 $135,000 4% / 5.65% $82,708 $2,985,000 $300,415 11/1/2018 4% / 5.65% $80,008 $2,985,000 5/1/2019 $140, % / 5.65% $80,008 $2,845,000 $300,015 11/1/ % / 5.65% $77,033 $2,845,000 5/1/2020 $145, % / 5.65% $77,033 $2,700,000 $299,065 11/1/ % / 5.65% $73,770 $2,700,000 5/1/2021 $155, % / 5.65% $73,770 $2,545,000 $302,540 11/1/ % / 5.65% $70,089 $2,545,000 5/1/2022 $160,000 5% / 5.65% $70,089 $2,385,000 $300,178 11/1/2022 5% / 5.65% $66,089 $2,385,000 5/1/2023 $170, % / 5.65% $66,089 $2,215,000 $302,178 11/1/ % / 5.65% $61,754 $2,215,000 5/1/2024 $180, % / 5.65% $61,754 $2,035,000 $303,508 11/1/ % / 5.65% $57,119 $2,035,000 5/1/2025 $185, % / 5.65% $57,119 $1,850,000 $299,238 11/1/ % / 5.65% $52,263 $1,850,000 5/1/2026 $185, % $52,263 $1,665,000 $289,525 11/1/ % $47,036 $1,665,000 5/1/2027 $210, % $47,036 $1,455,000 $304,073 11/1/ % $41,104 $1,455,000 5/1/2028 $210, % $41,104 $1,245,000 $292,208 11/1/ % $35,171 $1,245,000 5/1/2029 $225, % $35,171 $1,020,000 $295,343 11/1/ % $28,815 $1,020,000 5/1/2030 $240, % $28,815 $780,000 $297,630 11/1/ % $22,035 $780,000 5/1/2031 $245, % $22,035 $535,000 $289,070 11/1/ % $15,114 $535,000 5/1/2032 $260, % $15,114 $275,000 $290,228 11/1/ % $7,769 $275,000 5/1/2033 $275, % $7,769 $0 $290,538 Total $3,250,000 $1,806,103 $5,056,103 Annual Operating and Debt Service Budget Fiscal Year 2017 Version 6 Page 23

37 Lexington Oaks Agenda Page #37 Debt Service Funds Budget Narrative Fiscal Year 2017 Revenue Interest-Investments The District earns interest income on their trust accounts with US Bank Special Assessment-Tax Collector The District will levy a Non-Ad Valorem assessment on all sold and platted parcels within the District in order to pay for the operating expenditures during the Fiscal Year. Special Assessment-Discounts Per Section and Section of the Florida Statutes, discounts are allowed for early payment of assessments collected by the Tax Collector and only when the Tax Collector is using the uniform methodology. The budgeted amount for the fiscal year is calculated at 4% of the anticipated Non-Ad Valorem assessments. Expenditures Administrative Misc-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 budget for collection costs was based on a maximum of 2% of the anticipated assessment collections. Debt Service Principal Debt Retirement The District pays regular principal payments annually in order to pay down/retire the debt on May 1. Interest Expense The District pays interest expense on the debt on May 1 and November 1 of each year. Annual Operating and Debt Service Budget Fiscal Year 2017 Version 6 Page 24

38 Agenda Page #38 Lexington Oaks Supporting Budget Schedules Fiscal Year 2017 Version 7

39 Agenda Page # Non-Ad Valorem Assessment Summary GENERAL FUND % UNITS/ GROSS GROSS ASSESS DESCRIPTION ALLOCATION ACRES ASSESSMENT PER UNIT/ACRE SF 44 foot 12.11% 257 $ 151, $ SF 50 foot 35.76% 668 $ 446, $ SF 70 foot 34.14% 414 $ 426, $ 1, SF 80 foot 16.75% 170 $ 209, $ 1, Day Care 0.35% 1 $ 4, $ 4, Golf Course 0.88% 1 $ 10, $ 10, % 1,511 $ 1,249,250 INCREASE DESCRIPTION % UNITS/ FISCAL FISCAL (DECREASE) ALLOCATION ACRES YEAR 2016 YEAR 2017 FY16 / FY 17 GROSS ASSESSMENTS GENERAL FUND 1511 $ 1,223,511 $ 1,249, % SF 44 foot 12.11% $ $ % SF 50 foot 35.76% $ $ % SF 70 foot 34.14% $ 1, $ 1, % SF 80 foot 16.75% $ 1, $ 1, % Day Care 0.35% $ 4, $ 4, % Golf Course 0.88% $ 10, $ 10, % % ASSESSMENTS PER UNIT Annual Operating and Debt Service Budget Fiscal Year 2017 Version 7 Page 25

40 Agenda Page # Non-Ad Valorem Assessment Summary VILLAGE RESERVES % UNITS/ GROSS GROSS ASSESS DESCRIPTION ALLOCATION ACRES ASSESSMENT PER UNIT/ACRE HAWTHORNE 54 $ 10, $ PREAKNESS 113 $ 14, $ $ 25,083 INCREASE DESCRIPTION UNITS/ FISCAL FISCAL (- DECREASE) ACRES YEAR 2016 YEAR 2017 FY16 / FY 17 GROSS ASSESSMENTS HAWTHORNE 54 $ 10, $ 10, % PREAKNESS 113 $ 14, $ 14, % ASSESSMENTS PER UNIT HAWTHORNE $ $ % PREAKNESS $ $ % Annual Operating and Debt Service Budget Fiscal Year 2017 Version 7 Page 26

41 Agenda Page # Non-Ad Valorem Assessment Summary FY 2017 Single Family 98.77% $ 1,233, Day Care 0.35% $ 4, Golf Course 0.88% $ 10, Total % $ 1,249,250 Allocation per GF GF Vill Res Methodology Units Total Total Units Total Units Total Units Total 12.26% 257 $ 151, $ $ 43, $ 39, $ % 668 $ 446, $ $ 100, $ 42, $ 135, % 414 $ 426, $ - 78 $ 45, $ 34, $ 169, % 170 $ 209, $ 25, $ 50, $ 39, $ 18, $ 4, $ - 1 $ 2, $ - 0 $ - 1 $ 10, $ - 1 $ 6, $ - 0 $ % 1511 $ 1,249,250 $ 25, $ 248, $ 156, $ 323,999 Budget 1,249,250 25, , , ,999 Variance Per Unit Assessments FY 2017 Product Total General Fund Village Total Type Units O & M Reserve Debt Service Debt Service Debt Service SF 44 foot 257 $ $ - $ $ n/a $ $ n/a SF 50 foot 668 $ $ - $ $ $ $ 1, $ 1, $ 1, SF 70 foot 414 $ 1, $ - $ $ $ $ 1, $ 1, $ 1, SF 80 foot 3 $ 1, $ - $ $ $ $ 1, $ 1, $ 1, SF 80 foot-h 54 $ 1, $ $ $ $ $ 2, $ 2, $ 2, SF 80 foot-p 113 $ 1, $ $ $ $ $ 2, $ 1, $ 2, Day Care 1 $ 4, $ - $ 2, n/a n/a $ 6, n/a n/a Golf Course 1 $ 10, $ - $ 6, n/a n/a $ 17, n/a n/a 1,511 Annual Operating and Debt Service Budget Fiscal Year 2017 Version 7 Page 27

42 Agenda Page #42 RESOLUTION A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE COMMUNITY DEVELOPMENT DISTRICT LEVYING AND IMPOSING SPECIAL ASSESSMENTS; PROVIDING FOR COLLECTION AND ENFORCEMENT OF SPECIAL ASSESSMENTS; ADOPTING AND CERTIFYING AN ASSESSMENT ROLL; PROVIDING FOR AMENDMENT OF THE ASSESSMENT ROLL; PROVIDING A SEVERABILITY CLAUSE; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the Lexington Oaks (the 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 (the County ); and WHEREAS, the District owns and operates various infrastructure improvements and provides certain services in accordance with Chapter 190, Florida Statutes; and WHEREAS, the Board of Supervisors (the Board ) of the District hereby determines to undertake various operations and maintenance activities described in the District s budget for fiscal year 2016/2017 ( Operations and Maintenance Budget ), attached hereto as Exhibit A and incorporated as a material part of this Resolution by this reference; and WHEREAS, the District must obtain sufficient funds to provide for the operation and maintenance services and facilities provided by the District as described in the District s Operation and Maintenance Budget; and WHEREAS, the provision of such services, facilities, and operations is a benefit to lands within the District; and WHEREAS, the Board finds that the District's total General Fund operation and maintenance assessments, taking into consideration other revenue sources during Fiscal Year 2016/2017 for operations and maintenance programs, will amount to ; and WHEREAS, the Board finds the District s Debt Service Fund Assessment during Fiscal Year 2016/2017 will amount to ; and WHEREAS, Chapter 190, Florida Statutes, provides that the District may impose special assessments on benefitted lands within the District; and WHEREAS, Chapter 197, Florida Statutes, provides a mechanism pursuant to which such special assessments may be placed on the County Tax Roll and collected by the County Tax Collector ( Uniform Method ); and { DOC/2}

43 Agenda Page #43 WHEREAS, the District has, by resolution and public notice, previously evidenced its intention to utilize the Uniform Method; and WHEREAS, the District has approved an agreement with the County Property Appraiser and County Tax Collector to provide for the collection of special assessments under the Uniform Method; and WHEREAS, it is in the best interests of the District to proceed with the imposition of the special assessments on all assessable lands for operations and maintenance in the amount contained in the Operation and Maintenance Budget; and WHEREAS, the District desires to levy and collect special assessments reflecting each parcel s portion of the District s Operations and Maintenance Budget; and WHEREAS, it is in the best interests of the District to adopt the Assessment Roll of the Lexington Oaks (the Assessment Roll ) attached to this Resolution as Exhibit B and incorporated as a material part of this Resolution by this reference, and to certify the Assessment Roll in Exhibit B to the County Tax Collector pursuant to the Uniform Method; 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 County 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. The provision of the services, facilities and operations as described in Exhibit A confer a special and peculiar benefit to the lands within the District, which benefits exceed or equal the costs of the assessments. The allocation of the costs to the specially benefited lands is shown in Exhibits A and B. SECTION 2. ASSESSMENT IMPOSITION. Pursuant to Chapter 190 of the Florida Statutes, and using 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 benefited lands within the District 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. SECTION 3. COLLECTION AND DUE DATE. The collection of the previously levied debt service assessments and operation and maintenance special assessments on all assessable lands shall be 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. The District certifies all assessments for debt service and operations and maintenance for collection pursuant to Chapters 190 and 197, Florida Statutes. All assessments collected by the County Tax Collector shall be due and payable { DOC/2}

44 Agenda Page #44 as provided in Chapter 197, Florida Statutes. SECTION 4. ASSESSMENT ROLL. The District's Assessment Roll, attached to this Resolution as Exhibit B, is hereby certified and adopted. SECTION 5. ASSESSMENT ROLL AMENDMENT. The District Manager shall keep apprised of all updates made to the County property roll by the County Property Appraiser after the date of this Resolution, and shall amend the Districts Assessment Roll in accordance with any such updates, for such time as authorized by Florida law. After any amendment of the Assessment Roll, the District Manager shall file the updates to the tax roll in the District records. 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 18th day of August, ATTEST: COMMUNITY DEVELOPMENT DISTRICT By: Robert Nanni Secretary By: Jennifer Mooney Chair of the Board of Supervisors Exhibit A Fiscal Year 2016/2017 Budget Exhibit B Assessment Roll { DOC/2}

45 Fifth Order of Business Agenda Page #45

46 Agenda Page #46 RESOLUTION NO A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE LEXINGTON OAKS COMMUNITY DEVELOPMENT DISTRICT ADOPTING A POLICY FOR MAINTENANCE AND REPAIR OF CERTAIN SIDEWALKS LOCATED ADJACENT TO DISTRICT OWNED PROPERTY; AND DESIGNATING FUNDING FOR SUCH PURPOSES WHEREAS, the Lexington Oaks (the District ) is a local unit of special-purpose government created and existing pursuant to Chapter 190, Florida Statutes, being situated entirely within Pasco County, Florida; and WHEREAS, the District is authorized by Sections and , Florida Statutes, respectively, to enter into agreements with other local governments and to acquire, operate and maintain roads and roadway improvements, and recreational facilities; and WHEREAS, the District currently maintains only those sidewalks within the District which are described in District Resolution , adopted by the Board of Supervisors (the Board ) on November 21, 2013, and WHEREAS, the Board has determined that certain other sidewalks located adjacent to District owned property may also need repair and/or replacement from time to time to maintain reasonably safe conditions for the District s residents, their guests and invitees; and WHEREAS, the Board has observed that Pasco County does not provide a regular repair and maintenance program for the sidewalks located on County owned right of way, and has determined that it is in the best interests of the residents, their guests and invitees, for the District to improve and make sidewalk conditions more safe by supplementing County programs with additional repair and maintenance, as determined by the District; and WHEREAS, the Board further desires to clarify the source of funding for the costs of maintenance and repair on sidewalks located adjacent to District owned property; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF COMMUNITY DEVELOPMENT DISTRICT: 1. It shall be the policy (the Policy ) of the District to maintain and repair all sidewalks in the District which are located immediately adjacent to District owned property. 2. Nothing in this Policy shall be construed to include sidewalks located adjacent to any privately owned property, except as provided in District Resolution The sidewalks (the Sidewalks ) to be maintained by the District pursuant to this Resolution are those graphically depicted in the maps or diagrams attached hereto as Exhibit A, which also includes the sidewalks identified in Resolution In the event of any conflict with the text of this Resolution, Exhibit A shall determine the location and sections of the Sidewalks maintained by the District. { DOCX/}

47 Agenda Page #47 4. The District s Site & Clubhouse Manager (the Clubhouse Manager ) shall periodically, but not less than semi-annually, inspect the Sidewalks and report any unsafe conditions observed to the Board. The Clubhouse Manager shall also conduct a site inspection upon receipt of any complaint about an existing condition or an injury occurring on the Sidewalks. The Clubhouse Manager shall keep and maintain a record of any such events or reported conditions by taking photographs and appropriate notes concerning the conditions reported and observed. 5. Whenever a reasonably dangerous Sidewalk condition is discovered, the Clubhouse Manager shall cause a barricade, warning cone or safety (warning) paint to be placed at the location in a timely manner, as conditions warrant. In each case, the Clubhouse Manager shall promptly consult with the District Manager and/or the District Engineer concerning the Sidewalk condition observed and the corrective action to be taken, including, without limitation, repair, replacement or grinding of Sidewalk segments. 6. During the first quarter of each calendar year, the District Engineer shall conduct an inspection of the Sidewalks, and report to the Board any recommendations concerning conditions and needed repairs or corrections at or before the April Board meeting. Following receipt of the Sidewalk report, the Board shall provide direction to the District Engineer concerning Sidewalk repairs and replacement, as permitted by the District s budget. 7. Nothing in this Policy shall be construed to create or imply a present or continuing obligation on the part of the District to inspect, maintain, repair or replace (i) any portion of the Sidewalks located in Pasco County owned road rights of way, except as specified in this Policy or subsequent amendments hereto, or (ii) any other sidewalk, infrastructure or improvements in Pasco County owned road rights of way or in any privately owned homeowners association road rights of way located in the District. 8. Residents are prohibited from causing damage to the Sidewalks in any manner, including, without limitation, the parking of heavy vehicles or equipment on the Sidewalks. Residents and/or property owners shall be responsible for reimbursing the District for all damages caused by their occupants, guests, invitees, contractors and agents. 9. Maintenance and repair costs for all sidewalks located adjacent to District owned property shall be funded through District-wide Operations and Maintenance assessments. 10. This Resolution shall become effective immediately upon its adoption. PASSED AND ADOPTED THIS DAY OF AUGUST, Attest: Lexington Oaks Name: Assistant Secretary Jennifer Mooney, Chair of the Board of Supervisors { DOCX/}

48 Ninth Order of Business Agenda Page #48

49 9A. Agenda Page #49

50 Agenda Page # MINUTES OF MEETING COMMUNITY DEVELOPMENT DISTRICT The regular meeting of the Board of Supervisors of the Lexington Oaks Community Development District was held on Thursday, July 21, 2016 at 6:30 p.m. at the Lexington Oaks Clubhouse, Lexington Oaks Boulevard, Wesley Chapel, Florida. Present and constituting a quorum were: Bob Hendrick Vice Chairman Peter Hanzel Assistant Secretary Don Peters Assistant Secretary Terry Bechtel Assistant Secretary Also present: Andy Mendenhall District Manager Todd Wilhelmi Clubhouse Manager Residents The following is a summary of the minutes and actions taken. FIRST ORDER OF BUSINESS Roll Call Mr. Hendrick called the meeting to order and called the roll. A quorum was established. SECOND ORDER OF BUSINESS Pledge of Allegiance The Pledge of Allegiance was recited. THIRD ORDER OF BUSINESS Public Comments on Agenda Items Audience comments were received by the Board on the following: The pathway to the pond weir in Maywood is getting torn up; workers are using wheelbarrows across the path to move dirt to the pond. o Repairs will be done once the work is completed. Problem with the pond maintenance. o American Eco Systems is aware of the problems and is addressing the situation. Resident requested notification when workers are in the area. FOURTH ORDER OF BUSINESS Attorney s Report Mr. Hendrick noted Mr. Robin will be in attendance at the August 4, 2016 Workshop to review a Resolution pertaining to sidewalks repairs. Unapproved

51 July 21, 2016 Lexington Oaks CDD Agenda Page # FIFTH ORDER OF BUSINESS Engineer s Report The Board reviewed information submitted by Mr. Brletic. SIXTH ORDER OF BUSINESS Manager s Report A. Fiscal Year 2017 Budget Review The budget line items for the FY 2017 proposed budget were reviewed and the following changes were requested: Plant replacement reduce to $21,000 Tree replacement reduce to $12,000 Utility Gas increase to $23,000 i. Approval of Reserves Pool for Kiddie Pool This item is on hold until the August 4, 2016 workshop when a representative from the company submitting a proposal for a Splash Pad provides details on the project costs. SEVENTH ORDER OF BUSINESS Consent Agenda A. Minutes from June 16, 2016 Meeting A typographical error was noted for correction. On MOTION by Mr. Bechtel seconded by Mr. Peters with all in favor to approve the Minutes from the June 16, 2016 meeting as amended. 4-0 B. Approval of Financial Statements, Check Register and Invoices On MOTION by Mr. Bechtel seconded by Mr. Hendrick to approve the Financial Statements, Check Register and Invoices as submitted. Legal Advertising at 143% of Budget review December charges. On VOICE VOTE with all in favor the Financial Statements, Check Register and Invoices were approved as submitted. 4-0 EIGHTH ORDER OF BUSINESS Staff Report Site/Clubhouse Manager Mr. Wilhelmi provided an update on the following items: Sheriff Patrols all assigned details will be handled by 2 deputies. o Costs will be doubled. Unapproved 2

52 July 21, 2016 Lexington Oaks CDD Agenda Page # NINTH ORDER OF BUSINESS Audience Comments Resident requested confirmation money is budgeted for Holiday Lighting. The health of the ponds are being affected by car washing runoff. o Information can be provided on this topic in the next newsletter. Sidewalk tripping hazards need to be addressed. TENTH ORDER OF BUSINESS Supervisors Requests and Comments Peter Hanzel: On MOTION by Mr. Hanzel seconded by Mr. Hendrick to remove the 2 green recycling dumpsters on CDD property no later than September 30, Pasco County is providing recycling service to the community effective July The District has incurred additional costs to empty the onsite dumpsters and there is no added benefit to the Community in keeping these dumpsters on site. On VOICE VOTE with all in favor to remove the 2 green recycling dumpsters on CDD property no later than September Terry Bechtel: The large water line at Post Oak Blvd. and Lexington Oaks Blvd. is leaking and has been reported to the County. Review of the proposal submitted by Innova to install a security camera at the fitness center overlooking the parking lot and dumpster area. On MOTION by Mr. Bechtel seconded by Mr. Hendrick to approve the Innova proposal to install a security camera at the Fitness Center overlooking the parking lot and dumpster area in an amount NTE $4,138 effective October 1, On VOICE VOTE with Mr. Bechtel, Mr. Hendrick, Mr. Peters voting AYE and Mr. Hanzel voting NAY to approve the Innova proposal to install a security camera at the Fitness Center overlooking the parking lot and dumpster area in an amount NTE $4,138 effective October 1, Don Peters: The irrigation work being performed by LMP needs to be verified. Robert Hendrick: LMP is to provide a description on the invoices of the parts purchased for irrigation work. Unapproved 3

53 July 21, 2016 Lexington Oaks CDD Agenda Page # A. Reduction of the Number of Annual Flower Rotations On MOTION by Mr. Peters seconded by Mr. Hendrick with all in favor to reduce the number of annual flower rotations to 3 per year. 4-0 ELEVENTH ORDER OF BUSINESS Adjournment On MOTION by Mr. Peters seconded by Mr. Bechtel with all in favor the meeting was adjourned. 4-0 Chairperson/Vice Chairperson Unapproved 4

54 9B. Agenda Page #54

55 Agenda Page #55 Financial Report July 31, 2016 Prepared by