Heritage Harbor Community Development District

Transcription

1 Agenda Page 1 Heritage Harbor May 18, 2017 Agenda Package

2 Heritage Harbor Severn Trent Services, Management Services Division 210 N. University Drive, Suite 702 ~ Coral Springs, Florida Telephone (954) ~ Fax (954) May 11, 2017 Board of Supervisors Heritage Harbor Dear Board Members: A workshop and regular business meeting of the Board of Supervisors of the Heritage Harbor Community Development District will be held Thursday, May 18, 2017 with the workshop beginning at 6:00 p.m. to be followed by the regular meeting at the Heritage Harbor Clubhouse, Heritage Harbor Parkway, Lutz, Florida. The following is the advance agenda for the meeting: 1. Roll Call 2. Organization Matters A. Acceptance of Resignation of Mr. Rich Gordon, Seat 3 B. Appointment of a Supervisor to Fill the Unexpired Term of Office (11/20) C. Oath of Office of Newly Appointed Supervisor D. Election of Officers 3. Audience Comments 4. Approval of the Minutes of April 20, 2017 Meeting 5. Approval of Financial Statements 6. Distribution of the Preliminary Budget for Fiscal Year Staff Reports A. Golf Course 8. Attorney s Report 9. Engineer s Report 10. District Manager s Report A. Report on the Number of Registered Voters 1, Operation Report 12. Supervisor Requests 13. Audience Comments 14. Adjournment

3 The balance of the agenda is routine in nature and staff will present their reports at the meeting. I look forward to seeing you at the meeting and in the meantime if you have any questions, please contact me. Sincerely, Jim Hayford/ab District Manager

4 Second Order of Business Agenda Page 4

5 2A. Agenda Page 5

6 Agenda Page 6

7 2D. Agenda Page 7

8 Agenda Page 8 RESOLUTION A RESOLUTION DESIGNATING OFFICERS OF THE HERITAGE HARBOR COMMUNITY DEVELOPMENT DISTRICT WHEREAS, the Board of Supervisors of the Heritage Harbor Community Development District at a regular business meeting held on May 18, 2017 desires to appoint the below recited persons to the offices specified. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE HERITAGE HARBOR COMMUNITY DEVELOPMENT DISTRICT: 1. The following persons were appointed to the offices shown, to wit: Chairman Vice Chairman Jim Hayford Stephen Bloom Robert Koncar Secretary Treasurer Assistant Treasurer Assistant Secretary Assistant Secretary Assistant Secretary PASSED AND ADOPTED THIS, 18 TH DAY OF MAY, Chairman Jim Hayford Secretary

9 Fourth Order of Business Agenda Page 9

10 Agenda Page 10 meeting. MINUTES OF MEETING HERITAGE HARBOR COMMUNITY DEVELOPMENT DISTRICT A workshop meeting of the Board of Supervisors was held at 6 P.M. prior to the regular The regular meeting of the Board of Supervisors of the Heritage Harbor Community Development District was held Thursday, April 20, 2017 at approximately 8:09 p.m. at the Heritage Harbor Clubhouse; Heritage Harbor Parkway, Lutz, Florida. Present and constituting a quorum were: David Penzer Rich Gordon Shelley Grandon (via phone) Russ Rossi Patrick Giambelluca Chairman Vice Chairman Assistant Secretary Assistant Secretary Assistant Secretary Also present were: Jim Hayford Mark Straley John Panno Jim Poertner District Manager District Counsel Pro Shop Manager Golf Course Superintendent Residents The following is a summary of the discussions and actions taken at the April 20, 2017 Heritage Harbor Board of Supervisors meeting FIRST ORDER OF BUSINESS Roll Call Mr. Hayford called the meeting to order and roll was called. Four Supervisors were present with Ms. Grandon on the phone. On MOTION by Mr. Penzer seconded by Mr. Rossi with all in favor, Ms. Grandon was authorized to participate in the meeting by phone. 5/0 SECOND ORDER OF BUSINESS Audience Comments Audience members commented on the item discussed at the workshop meeting; whether to consider defaulting on the bonds and negotiating with the bank. 1

11 April 20, 2017 Agenda Page 11 Heritage Harbor C.D.D. Mr. Penzer MOVED seconded by Mr. Rossi to make the May 1, 2017 payment of the 1997 Recreation Revenue Bond. Mr. Penzer noted we don t have all the answers right now. On VOICE Vote with Mr. Penzer, Mr. Rossi, Mr. Giambelluca and Ms. Grandon voting Aye and Mr. Gordon voting Nay, making the May 1, 2017 payment for the 1997 Recreation Revenue Bond was approved. 4/1 THIRD ORDER OF BUSINESS Approval of the Minutes of the March 16, 2017 Meeting Each Board member received a copy of the minutes and additions, corrections or deletions were requested. On MOTION by Mr. Giambelluca seconded by Mr. Penzer with all in favor, the minutes of the March 16, 2017 meeting were approved. 5/0 FOURTH ORDER OF BUSINESS Approval of Financial Statements On MOTION by Mr. Penzer seconded by Mr. Rossi with all in favor, the March 2017 financials were accepted. 5/0 The record will reflect Ms. Grandon left the meeting. FIFTH ORDER OF BUSINESS A. Golf Course There was no report. SIXTH ORDER OF BUSINESS None. SEVENTH ORDER OF BUSINESS None. EIGHTH ORDER OF BUSINESS Staff Reports Attorney s Report Engineer s Report District Manager s Report Mr. Hayford noted the budget process begins next month. He asked the Board if they want to see a budget version without the increase. unapproved 2

12 April 20, 2017 Agenda Page 12 Heritage Harbor C.D.D. NINTH ORDER OF BUSINESS None. Operations Report TENTH ORDER OF BUSINESS Supervisor Requests Mr. Penzer requested, for the record, to have a member of Severn Trent Services Upper Management attend the next meeting. On MOTION by Mr. Gordon seconded by Mr. Rossi with all in favor going out to bid for District Management Services was approved. 4/0 ELEVENTH ORDER OF BUSINESS None. TWELFTH ORDER OF BUSINESS There being no further business at this time, Audience Comments Adjournment On MOTION by Mr. Penzer seconded by Mr. Rossi with all in favor the meeting was adjourned. Jim Hayford Secretary David Penzer Chairman unapproved 3

13 Fifth Order of Business Agenda Page 13

14 MEMORANDUM Agenda Page 14 TO: FROM: CC: Heritage Harbor Board of Supervisors Terri Lusk, District Accountant Jim Hayford DATE: May 10, 2017 SUBJECT: Heritage Harbor April Financial Report Please find below the monthly update from the Finance Department. At this point in the fiscal year (through April), the expenditures should be around 58.33% of the adopted budget. Finance Report General Fund Total revenues through April were at 96.62% of the annual budget compared to 96.91% at the same time last year. o Special Assessment collections are at 96.51% collected through April compared to 96.68% at the same time last year. Total expenses through April were at 56.80% of the annual budget compared to 52.67% at the same time last year. o See Notes to the Financials for detailed explanations of variances. Enterprise Fund Total operating revenues through April were at 55.56% of the annual budget compared to 56.90% at the same time last year. o The golf course revenues are at 55.30% of the annual budget compared to 56.70% last year. o The pro shop revenues are at 58.22% of the annual budget compared to 58.32% last year. Total operating expenses through April were at 51.54% of the annual budget compared to 51.86% at the same time last year. o See Notes to the Financials for detailed explanations. Total operating income is $71,442 compared to $80,220 at this time last year. The rates for the summer season go down in May, which will have an impact on the golf revenues. The Enterprise Fund owes the General Fund ($230,208). This is due to the General Fund funding the debt service payments for the Enterprise Fund ($181,886) plus insurance and miscellaneous accounts payable invoices ($48,322).

15 Agenda Page 15 HERITAGE HARBOR Financial Report April 30, 2017 Prepared by

16 Agenda Page 16 Table of Contents GOVERNMENTAL FINANCIAL STATEMENTS Balance Sheet - All Funds Page 1-2 Statement of Revenues, Expenditures and Changes in Fund Balance General Fund Page 3-4 Debt Service Fund Page 5 Notes to the Financial Statements - Governmental Funds Page 6 ENTERPRISE FINANCIAL STATEMENTS Statement of Revenues, Expenditures and Changes in Net Assets Golf Course / Pro Shop Page 7-8 Restaurant Page 9 Other Page 10 Consolidated Page Notes to the Financial Statements - Enterprise Fund Page SUPPORTING SCHEDULES Non-Ad Valorem Special Assessment Report Page 17 Cash & Investment Report Page 18 Check Registers by Fund General Fund Check Register Page Enterprise Fund Check Register Page 21-22

17 Agenda Page 17 HERITAGE HARBOR Governmental Financial Statements (Unaudited) April 30, 2017

18 Agenda Page 18 Governmental and Enterprise Funds Balance Sheet April 30, 2017 ACCOUNT DESCRIPTION GENERAL FUND SERIES 2008 DEBT SERVICE ENTERPRISE FUND TOTAL ASSETS Current Assets Cash - Checking Account $ 702,060 $ - $ 21,475 $ 723,535 Cash On Hand/Petty Cash Accounts Receivable 9,340-1,672 11,012 Due From Other Funds 223,702 6, ,208 Inventory: Golf Balls - - 7,671 7,671 Golf Clubs Gloves - - 3,009 3,009 Headwear - - 1,680 1,680 Ladies' Wear Men's Wear - - 2,644 2,644 Shoes Miscellaneous - - 2,745 2,745 Investments: Certificates of Deposit - 12 Months ,299 21,299 Money Market Account 101, ,915 Interest Account ,363 38,363 Principal , ,004 Reserve Fund - 28, , ,329 Revenue Fund - 330, ,925 Prepaid Items 5,228-1,400 6,628 Deposits 1,890-3,456 5,346 Total Current Assets 1,044, , ,475 1,723,370 Noncurrent Assets Fixed Assets Land - - 1,204,598 1,204,598 Infrastructure - - 6,011,912 6,011,912 Accum Depr - Infrastructure - - (5,010,362) (5,010,362) Equipment and Furniture , ,444 Accum Depr - Equip/Furniture - - (865,444) (865,444) Total Noncurrent Assets - - 2,206,148 2,206,148 TOTAL ASSETS $ 1,044,135 $ 365,760 $ 2,519,623 $ 3,929,518 Report Date: 5/8/2017 Page 1

19 Agenda Page 19 Governmental and Enterprise Funds Balance Sheet April 30, 2017 ACCOUNT DESCRIPTION GENERAL FUND SERIES 2008 DEBT SERVICE ENTERPRISE FUND TOTAL LIABILITIES Current Liabilities Accounts Payable $ 13,453 $ - $ 9,451 $ 22,904 Accrued Expenses 8,797-8,516 17,313 Due To HOA ,951 12,951 Accrued Interest Payable ,292 32,292 Accrued Wages Payable ,869 26,869 Accrued Taxes Payable 1, ,339 Sales Tax Payable - - 8,115 8,115 Deposits ,500 19,500 Gift Certificates Revenue Bonds Payable-Current , ,000 Due To Other Funds , ,208 Total Current Liabilities 23, , ,194 Long-Term Liabilities Revenue Bonds Payable-LT , ,000 Total Long-Term Liabilities , ,000 TOTAL LIABILITIES 23,589-1,338,605 1,362,194 FUND BALANCES / NET ASSETS Fund Balances Nonspendable: Prepaid Items 5, ,228 Deposits 1, ,890 Restricted for: Debt Service - 365, ,760 Assigned to: Operating Reserves 187, ,756 Reserves - Fountains 19, ,600 Reserves - Gate/Entry Features 49, ,191 Reserves- Irrigation System 100, ,000 Reserves - Lake Embankments 58, ,800 Reserves - Landscape 58, ,800 Unassigned: 539, ,281 Net Assets Invested in capital assets, net of related debt - - 1,216,845 1,216,845 Restricted for Debt Service , ,074 Unrestricted/Unreserved - - (248,901) (248,901) TOTAL FUND BALANCES / NET ASSETS $ 1,020,546 $ 365,760 $ 1,181,018 $ 2,567,324 TOTAL LIABILITIES & FUND BALANCES / NET ASSETS $ 1,044,135 $ 365,760 $ 2,519,623 $ 3,929,518 Report Date: 5/8/2017 Page 2

20 Agenda Page 20 General Fund Statement of Revenues, Expenditures and Changes in Fund Balances For the Period Ending April 30, 2017 ANNUAL YTD ACTUAL ADOPTED YEAR TO DATE YEAR TO DATE VARIANCE ($) AS A % OF APR-17 APR-17 ACCOUNT DESCRIPTION BUDGET BUDGET ACTUAL FAV(UNFAV) ADOPTED BUD BUDGET ACTUAL REVENUES Interest - Investments $ 2,700 $ 1,575 $ 2,073 $ % $ 225 $ 66 Interest - Tax Collector % - - Special Assmnts- Tax Collector 738, , ,640 (3,595) 96.51% 22,152 15,919 Special Assmnts- Discounts (29,535) (28,649) (27,292) 1, % (886) - TOTAL REVENUES 711, , ,501 (1,660) 96.62% 21,491 15,985 EXPENDITURES Administration P/R-Board of Supervisors 12,000 7,000 7,400 (400) 61.67% 1,000 1,400 FICA Taxes (30) 61.66% ProfServ-Engineering 9,000 5,250 1,962 3, % ProfServ-Legal Services 6,000 3,500 3,693 (193) 61.55% ProfServ-Mgmt Consulting Serv 56,100 32,725 36,550 (3,825) 65.15% 4,675 3,910 Accounting Services % Auditing Services 6,000 6,000 8,275 (2,275) % - - Postage and Freight % Insurance - General Liability 12,099 12,099 10,819 1, % Printing and Binding 2,400 1, , % Legal Advertising 1,200 1,200 1,438 (238) % Miscellaneous Services (152) 74.17% Misc-Assessmnt Collection Cost 14,768 14,325 13, % Misc-Web Hosting 1, % Office Supplies % 50 - Annual District Filing Fee % - - Total Administration 124,720 86,578 86,783 (205) 69.58% 8,463 6,362 Operations and Maintenance Field Payroll-Hourly 45,600 26,600 26,759 (159) 58.68% 3,800 3,818 FICA Taxes 6,510 3,798 4,078 (280) 62.64% Life and Health Insurance 4,800 2,800 2, % ProfServ-Field Management 15,000 8,750 8, % 1,250 1,250 Contracts-Guard Services 154,560 90,160 78,658 11, % 12,880 11,186 Contracts-Fountain 1, % Contracts-Landscape 136,800 79,800 79, % 11,400 11,400 Contracts-Lakes 37,536 21,896 23,646 (1,750) 63.00% 3,128 3,478 Contracts-Gates 50,280 29,330 29,673 (343) 59.02% 4,190 4,565 Utility -General 79,800 46,550 47,924 (1,374) 60.06% 6,650 12,660 R&M-General 9,000 5,250 8,568 (3,318) 95.20% R&M-Gate 5,000 2,917-2, % R&M-Other Landscape 28,800 16,800 21,795 (4,995) 75.68% 2,400 - R&M-Irrigation 6,000 3,500 2,155 1, % R&M-Lake 1, % R&M-Mitigation 2, % - - R&M-Trees and Trimming 10, % - - R&M-Parks & Facilities 3, % - - Misc-Holiday Decor 7,500 7,500 8,847 (1,347) % - - Misc-Contingency 15,000 4,210 4,274 (64) 28.49% - 64 Report Date: 5/8/2017 Page 3

21 Agenda Page 21 General Fund Statement of Revenues, Expenditures and Changes in Fund Balances For the Period Ending April 30, 2017 ANNUAL YTD ACTUAL ADOPTED YEAR TO DATE YEAR TO DATE VARIANCE ($) AS A % OF APR-17 APR-17 ACCOUNT DESCRIPTION BUDGET BUDGET ACTUAL FAV(UNFAV) ADOPTED BUD BUDGET ACTUAL Field (continued) Reserve - Fountain 2, % - - Reserve - Gate/Entry Feature 6, % - - Reserve - Lake Embankm/Drainage 6, % - - Reserve - Landscaping 6, % - - Total Field 640, , ,066 3, % 48,548 49,825 TOTAL EXPENDITURES 765, , ,849 3, % 57,011 56,187 Excess (deficiency) of revenues Over (under) expenditures (54,094) 251, ,652 1, % (35,520) (40,202) OTHER FINANCING SOURCES (USES) Contribution to (Use of) Fund Balance (54,094) % - - TOTAL FINANCING SOURCES (USES) (54,094) % - - Net change in fund balance $ (54,094) $ 251,042 $ 252,652 $ 1, % $ (35,520) $ (40,202) FUND BALANCE, BEGINNING (OCT 1, 2016) 767, , ,894 FUND BALANCE, ENDING $ 713,800 $ 1,018,936 $ 1,020,546 Report Date: 5/8/2017 Page 4

22 Agenda Page Debt Service Fund Statement of Revenues, Expenditures and Changes in Fund Balances For the Period Ending April 30, 2017 ANNUAL YTD ACTUAL ADOPTED YEAR TO DATE YEAR TO DATE VARIANCE ($) AS A % OF APR-17 APR-17 ACCOUNT DESCRIPTION BUDGET BUDGET ACTUAL FAV(UNFAV) ADOPTED BUD BUDGET ACTUAL REVENUES Interest - Investments $ - $ - $ 141 $ % $ - $ 45 Special Assmnts- Tax Collector 307, , ,191 (1,499) 96.51% 9,238 6,639 Special Assmnts- Discounts (12,317) (11,947) (11,382) % (370) - TOTAL REVENUES 295, , ,950 (793) 96.73% 8,868 6,684 EXPENDITURES Administration ProfServ-Trustee Fees 4, % - - Misc-Assessmnt Collection Cost 6,159 5,974 5, % Total Administration 10,496 5,974 5, % Debt Service Principal Debt Retirement 250, % - - Interest Expense Series A 33,015 16,508 16, % - - Total Debt Service 283,015 16,508 16, % - - TOTAL EXPENDITURES 293,511 22,482 22, % Excess (deficiency) of revenues Over (under) expenditures 2, , ,726 (535) % 8,683 6,551 OTHER FINANCING SOURCES (USES) Contribution to (Use of) Fund Balance 2, % - - TOTAL FINANCING SOURCES (USES) 2, % - - Net change in fund balance $ 2,100 $ 264,261 $ 263,726 $ (535) % $ 8,683 $ 6,551 FUND BALANCE, BEGINNING (OCT 1, 2016) 102, , ,034 FUND BALANCE, ENDING $ 104,134 $ 366,295 $ 365,760 Report Date: 5/8/2017 Page 5

23 Agenda Page 23 Notes to the Financial Statements Balance Sheet Annual YTD % of Account Name Budget Actual Budget Explanation Assets Accounts Receivable 9,340 HOA's 50% portion of Clubhouse maintenance and Front Desk personnel Due from Other Funds 223,702 Due from General to Debt Service ($6,506) plus Due from Enterprise to General Fund $230,208 for principal and interest payments and miscellaneous accounts payable invoices Prepaid Items 5,228 TECO Utility bond, Monitoring Deposits 1,890 TECO utility deposits Liabilities Acccounts Payable 13,453 April invoices paid in May Accrued Expenses 8,797 Patrol services, utilities Variance Analysis General Fund 001 Revenues Special Assessments-Tax Collector 738, , % Collections were at 96.68% at this time last year Expenditures Administrative P/R-Board of Supervisors 12,000 7, % Some Board members paid for workshops also Legal Services 6,000 3, % General matters thru March 2017 Management Consulting Services 56,100 36, % Includes Management fees plus annual assessment roll preparation fees Auditing Services 6,000 8, % Audit is complete. Higher price due to audit firm change. Insurance-General Liability 12,099 10, % General Liability insurance paid for the year Legal Advertising 1,200 1, % Advertisment for meetings for the year, RFP for auditor, audit committee meeting notice, notice of workshops Miscellaneous Services % Bank charges Field Expenses Contracts-Lakes 37,536 23, % Contract price increased in December Contracts-Gates 50,280 29, % Monthly gate access monitoring, Qtrly East gate monitoring, Frontier phone service Utility-General 79,800 47, % Monthly TECO and BOCC charges R&M-General 9,000 8, % Stormwater maintenance, fountain repair, ant control at gate house R&M-Other Landscaping 28,800 21, % Annual and seasonal plantings, placed pine bark mulch around plants Misc-Holiday Décor 7,500 8, % Installation of Holiday lights at front entrance includes take down Debt Service Fund 202 Revenues Special Assessments-Tax Collector 307, , % Collections were at 96.68% at this time last year Expenditures Principal Debt Payment 250, % Next payment to be made in May Interest Payment 33,015 16, % Next payment to be made in May Report Date: 5/10/2017 Page 6

24 Agenda Page 24 HERITAGE HARBOR Enterprise Financial Statements (Unaudited) April 30, 2017

25 Agenda Page 25 Golf Course / Pro Shop Statement of Revenues, Expenses and Changes in Net Assets For the Period Ending April 30, 2017 ANNUAL YTD ACTUAL ADOPTED YEAR TO DATE YEAR TO DATE VARIANCE ($) AS A % OF APR-17 APR-17 ACCOUNT DESCRIPTION BUDGET BUDGET ACTUAL FAV(UNFAV) ADOPTED BUD BUDGET ACTUAL GOLF COURSE REVENUES Green Fees $ 1,170,000 $ 774,000 $ 650,025 $ (123,975) 55.56% $ 114,000 $ 103,511 Club Rentals (300) 10.00% 50 - Range Fees 48,000 32,840 24,763 (8,077) 51.59% 4,836 4,213 Handicaps 1, (765) 1.67% Revenue-Employees (350) 0.00% 50 - Total Golf Course Revenues 1,220, , ,858 (133,467) 55.30% 119, ,724 PRO SHOP REVENUES Golf Ball Sales 22,500 13,125 14,291 1, % 1,875 2,166 Glove Sales 6,000 3,500 3, % Headwear Sales 3,900 2,275 2, % Ladies' Wear Sales (105) 0.00% 15 - Men's Wear Sales 1, % Miscellaneous Sales 3,900 2, (1,552) 18.54% Total Pro Shop Revenues 37,950 22,138 22,095 (43) 58.22% 3,163 3,845 TOTAL OPERATING REVENUES 1,258, , ,953 (133,510) 55.39% 122, ,569 COST OF GOODS SOLD COS - Golf Balls 10,200 5,950 6,624 (674) 64.94% 850 1,193 COS - Gloves 3,200 1,867 2,228 (361) 69.63% COS - Headwear 1,800 1, % COS - Ladies' Wear % 15 - COS - Men's Wear (24) 61.00% COS - Miscellaneous 1,980 1, % Total Cost of Goods Sold 18,260 10,652 10,925 (273) 59.83% 1,522 2,095 GROSS PROFIT 1,239, , ,028 (133,783) 55.33% 120, ,474 OPERATING EXPENSES Golf Course Payroll-Hourly 310, , ,546 (421) 58.47% 25,875 25,061 Incentive % - - FICA Taxes 45,000 26,250 27,665 (1,415) 61.48% 3,750 3,862 Life and Health Insurance 25,462 14,853 13,193 1, % 2,122 1,696 Accounting Services 9,000 5,250 5, % Contracts-Security Alarms % Communication - Telephone 2,252 1,314 1,335 (21) 59.28% Postage and Freight (68) 96.11% 15 - Electricity - General 14,400 8,400 8,447 (47) 58.66% 1,200 1,193 Utility - Refuse Removal 5,290 3,086 3,124 (38) 59.05% Utility - Water & Sewer 6,600 3,850 3, % Rental/Lease - Vehicle/Equip 44,090 25,719 31,417 (5,698) 71.26% 3,674 2,535 Lease - Ice Machines 1, (13) 59.20% Insurance - Property 15,299 15,299 14, % - - R&M-Buildings ,240 (1,960) % 40 - Report Date: 5/8/2017 Page 7

26 Agenda Page 26 Golf Course / Pro Shop Statement of Revenues, Expenses and Changes in Net Assets For the Period Ending April 30, 2017 ANNUAL YTD ACTUAL ADOPTED YEAR TO DATE YEAR TO DATE VARIANCE ($) AS A % OF APR-17 APR-17 ACCOUNT DESCRIPTION BUDGET BUDGET ACTUAL FAV(UNFAV) ADOPTED BUD BUDGET ACTUAL R&M-Equipment 15,900 9,275 7,426 1, % 1,325 1,172 R&M-Fertilizer 30,000 17,500 10,289 7, % 2,500 1,764 R&M-Irrigation 6,000 3,500 1,091 2, % R&M-Golf Course 8,100 4,725 1,870 2, % R&M-Pumps 3,648 2,128 1, % Misc-Property Taxes 1,500 1,500 2,488 (988) % - - Misc-Licenses & Permits % - - Op Supplies - General 4,800 2,800 2, % Op Supplies - Fuel, Oil 24,000 14,000 7,333 6, % 2, Op Supplies - Chemicals 33,150 19,338 18, % 2,763 3,851 Op Supplies - Hand tools 1, % - - Supplies - Sand 3, % - - Supplies - Top Dressing 1, % - - Supplies - Seeds 6,700 3,085 3, % - - Total Golf Course 621, , ,021 15, % 49,257 45,083 Pro Shop Payroll-Hourly 149,000 86,917 89,319 (2,402) 59.95% 12,417 12,494 FICA Taxes 22,500 13,125 13,614 (489) 60.51% 1,875 1,925 Life and Health Insurance 16,686 9,734 9, % 1,391 1,381 ProfServ-Web Site Development 1, % Accounting Services 9,000 5,250 5, % Contracts-Janitorial Services 11,700 6,825 3,897 2, % Contracts-Security Alarms 2,157 1, % Communication - Telephone 3,138 1,831 2,222 (391) 70.81% Postage and Freight (33) 72.08% 20 - Electricity - General 12,600 7,350 5,676 1, % 1, Utility - Refuse Removal % Utility - Water & Sewer 1,800 1,050 1,449 (399) 80.50% Lease - Copier % Lease - Carts 70,560 41,160 41, % 5,880 5,880 Insurance - Property 8,700 8,700 8, % - - R&M-General 6,000 3,500 2, % R&M-Air Conditioning (144) % - - R&M-Pest Control 2,148 1, % Advertising 10,500 6,125 6,390 (265) 60.86% 875 1,160 Misc-Bank Charges 27,000 15,750 15, % 2,250 2,898 Misc-Cable TV Expenses 1, % Misc-Property Taxes 5,500 5,500 3,831 1, % - - Misc-Handicap Fees % - - Office Supplies 1, % Computer Expense ,273 (790) % - - Op Supplies - General % Supplies - Scorecards ,352 (994) % Reserve 10,505 6,128 6, % Total Pro Shop 378, , ,094 4, % 30,331 31,096 TOTAL OPERATING EXPENSES 999, , ,115 19, % 79,588 76,179 Operating income (loss) 240, , ,913 (114,043) 46.94% 41,109 33,295 Report Date: 5/8/2017 Page 8

27 Agenda Page 27 Restaurant Statement of Revenues, Expenses and Changes in Net Assets For the Period Ending April 30, 2017 ANNUAL YTD ACTUAL ADOPTED YEAR TO DATE YEAR TO DATE VARIANCE ($) AS A % OF APR-17 APR-17 ACCOUNT DESCRIPTION BUDGET BUDGET ACTUAL FAV(UNFAV) ADOPTED BUD BUDGET ACTUAL OPERATING REVENUES Rents or Royalties $ 78,000 $ 45,500 $ 45,500 $ % $ 6,500 $ 6,500 TOTAL OPERATING REVENUES 78,000 45,500 45, % 6,500 6,500 OPERATING EXPENSES Restaurant Payroll-Hourly 5,495 3,205 3,264 (59) 59.40% ProfServ-Web Site Development 1, % Accounting Services 1, % Contracts-Janitorial Services 2,440 1, % Contracts-Security Alarms 1,883 1, , % Communication - Telephone 1,932 1,127 1,532 (405) 79.30% Electricity - General 12,480 7,280 5,307 1, % 1, Utility - Refuse Removal 4,567 2,664 2, % Utility - Water & Sewer 3,600 2,100 1, % Lease - Copier 1, % Lease - Dishwasher % Insurance - Property 8,572 8,572 8, % - - R&M-Air Conditioning % - - R&M-Buildings 6,000 3,500 2,432 1, % R&M-Pest Control 3,617 2, , % Misc-Property Taxes 2,000 2, , % - - Misc-Cable Music % Office Supplies (19) 90.00% 5 - Computer Expense 1, % - - Reserve 24,511 14,298 14, % 2,043 2,043 Total Restaurant 84,438 53,728 45,333 8, % 6,305 4,714 TOTAL OPERATING EXPENSES 84,438 53,728 45,333 8, % 6,305 4,714 Operating income (loss) (6,438) (8,228) 167 8, % 195 1,786 Report Date: 5/8/2017 Page 9

28 Agenda Page 28 Other Statement of Revenues, Expenses and Changes in Net Assets For the Period Ending April 30, 2017 ANNUAL YTD ACTUAL ADOPTED YEAR TO DATE YEAR TO DATE VARIANCE ($) AS A % OF APR-17 APR-17 ACCOUNT DESCRIPTION BUDGET BUDGET ACTUAL FAV(UNFAV) ADOPTED BUD BUDGET ACTUAL OPERATING REVENUES Interest - Investments $ 400 $ 233 $ 210 $ (23) 52.50% $ 33 $ 13 Other Miscellaneous Revenues % - - TOTAL OPERATING REVENUES (23) 52.50% OPERATING EXPENSES Debt Service ProfServ-Arbitrage Rebate % - - ProfServ-Dissemination Agent 1,000 1,000-1, % - - ProfServ-Trustee 3,563 3,563 3, % - - Principal Debt Retirement 115, % - - Interest Expense 77,500 38,750 38, % - - Total Debt Service 197,363 43,313 41,848 1, % - - TOTAL OPERATING EXPENSES 197,363 43,313 41,848 1, % - - Operating income (loss) (196,963) (43,080) (41,638) 1, % Report Date: 5/8/2017 Page 10

29 Agenda Page 29 Consolidated Enterprise Fund Statement of Revenues, Expenses and Changes in Net Assets For the Period Ending April 30, 2017 ANNUAL YTD ACTUAL ADOPTED YEAR TO DATE YEAR TO DATE VARIANCE ($) AS A % OF APR-17 APR-17 ACCOUNT DESCRIPTION BUDGET BUDGET ACTUAL FAV(UNFAV) ADOPTED BUD BUDGET ACTUAL OPERATING REVENUES Golf Course Green Fees $ 1,170,000 $ 774,000 $ 650,025 $ (123,975) 55.56% $ 114,000 $ 103,511 Club Rentals (300) 10.00% 50 - Range Fees 48,000 32,840 24,763 (8,077) 51.59% 4,836 4,213 Handicaps 1, (765) 1.67% Revenue-Employees (350) 0.00% 50 - Total Golf Course 1,220, , ,858 (133,467) 55.30% 119, ,724 Pro Shop Golf Ball Sales 22,500 13,125 14,291 1, % 1,875 2,166 Glove Sales 6,000 3,500 3, % Headwear Sales 3,900 2,275 2, % Ladies' Wear Sales (105) 0.00% 15 - Men's Wear Sales 1, % Miscellaneous Sales 3,900 2, (1,552) 18.54% Total Pro Shop 37,950 22,138 22,095 (43) 58.22% 3,163 3,845 Restaurant Rents or Royalties 78,000 45,500 45, % 6,500 6,500 Total Restaurant 78,000 45,500 45, % 6,500 6,500 Other Interest - Investments (23) 52.50% Total Other (23) 52.50% TOTAL OPERATING REVENUES 1,336, , ,663 (133,533) 55.56% 128, ,082 COST OF GOODS SOLD COS - Golf Balls 10,200 5,950 6,624 (674) 64.94% 850 1,193 COS - Gloves 3,200 1,867 2,228 (361) 69.63% COS - Headwear 1,800 1, % COS - Ladies' Wear % 15 - COS - Men's Wear (24) 61.00% COS - Miscellaneous 1,980 1, % Total Cost of Goods Sold 18,260 10,652 10,925 (273) 59.83% 1,522 2,095 GROSS PROFIT 1,318, , ,738 (133,260) 55.50% 127, ,987 Report Date: 5/8/2017 Page 11

30 Agenda Page 30 Consolidated Enterprise Fund OPERATING EXPENSES Golf Course Payroll-Hourly 310, , ,546 (421) 58.47% 25,875 25,061 Incentive % - - FICA Taxes 45,000 26,250 27,665 (1,415) 61.48% 3,750 3,862 Life and Health Insurance 25,462 14,853 13,193 1, % 2,122 1,696 Accounting Services 9,000 5,250 5, % Contracts-Security Alarms % Communication - Telephone 2,252 1,314 1,335 (21) 59.28% Postage and Freight (68) 96.11% 15 - Electricity - General 14,400 8,400 8,447 (47) 58.66% 1,200 1,193 Utility - Refuse Removal 5,290 3,086 3,124 (38) 59.05% Utility - Water & Sewer 6,600 3,850 3, % Rental/Lease - Vehicle/Equip 44,090 25,719 31,417 (5,698) 71.26% 3,674 2,535 Lease - Ice Machines 1, (13) 59.20% Insurance - Property 15,299 15,299 14, % - - R&M-Buildings ,240 (1,960) % 40 - R&M-Equipment 15,900 9,275 7,426 1, % 1,325 1,172 R&M-Fertilizer 30,000 17,500 10,289 7, % 2,500 1,764 R&M-Irrigation 6,000 3,500 1,091 2, % R&M-Golf Course 8,100 4,725 1,870 2, % R&M-Pumps 3,648 2,128 1, % Misc-Property Taxes 1,500 1,500 2,488 (988) % - - Misc-Licenses & Permits % - - Op Supplies - General 4,800 2,800 2, % Op Supplies - Fuel, Oil 24,000 14,000 7,333 6, % 2, Op Supplies - Chemicals 33,150 19,338 18, % 2,763 3,851 Op Supplies - Hand tools 1, % - - Supplies - Sand 3, % - - Supplies - Top Dressing 1, % - - Supplies - Seeds 6,700 3,085 3, % - - Total Golf Course 621, , ,021 15, % 49,257 45,083 Report Date: 5/8/2017 Page 12

31 Agenda Page 31 Consolidated Enterprise Fund Pro Shop Payroll-Hourly 149,000 86,917 89,319 (2,402) 59.95% 12,417 12,494 FICA Taxes 22,500 13,125 13,614 (489) 60.51% 1,875 1,925 Life and Health Insurance 16,686 9,734 9, % 1,391 1,381 ProfServ-Web Site Development 1, % Accounting Services 9,000 5,250 5, % Contracts-Janitorial Services 11,700 6,825 3,897 2, % Contracts-Security Alarms 2,157 1, % Communication - Telephone 3,138 1,831 2,222 (391) 70.81% Postage and Freight (33) 72.08% 20 - Electricity - General 12,600 7,350 5,676 1, % 1, Utility - Refuse Removal % Utility - Water & Sewer 1,800 1,050 1,449 (399) 80.50% Lease - Copier % Lease - Carts 70,560 41,160 41, % 5,880 5,880 Insurance - Property 8,700 8,700 8, % - - R&M-General 6,000 3,500 2, % R&M-Air Conditioning (144) % - - R&M-Pest Control 2,148 1, % Advertising 10,500 6,125 6,390 (265) 60.86% 875 1,160 Misc-Bank Charges 27,000 15,750 15, % 2,250 2,898 Misc-Cable TV Expenses 1, % Misc-Property Taxes 5,500 5,500 3,831 1, % - - Misc-Handicap Fees % - - Office Supplies 1, % Computer Expense ,273 (790) % - - Op Supplies - General % Supplies - Scorecards ,352 (994) % Reserve 10,505 6,128 6, % Total Pro Shop 378, , ,094 4, % 30,331 31,096 Report Date: 5/8/2017 Page 13

32 Agenda Page 32 Consolidated Enterprise Fund Restaurant Payroll-Hourly 5,495 3,205 3,264 (59) 59.40% ProfServ-Web Site Development 1, % Accounting Services 1, % Contracts-Janitorial Services 2,440 1, % Contracts-Security Alarms 1,883 1, , % Communication - Telephone 1,932 1,127 1,532 (405) 79.30% Electricity - General 12,480 7,280 5,307 1, % 1, Utility - Refuse Removal 4,567 2,664 2, % Utility - Water & Sewer 3,600 2,100 1, % Lease - Copier 1, % Lease - Dishwasher % Insurance - Property 8,572 8,572 8, % - - R&M-Air Conditioning % - - R&M-Buildings 6,000 3,500 2,432 1, % R&M-Pest Control 3,617 2, , % Misc-Property Taxes 2,000 2, , % - - Misc-Cable Music % Office Supplies (19) 90.00% 5 - Computer Expense 1, % - - Reserve 24,511 14,298 14, % 2,043 2,043 Total Restaurant 84,438 53,728 45,333 8, % 6,305 4,714 Debt Service ProfServ-Arbitrage Rebate % - - ProfServ-Dissemination Agent 1,000 1,000-1, % - - ProfServ-Trustee 3,563 3,563 3, % - - Principal Debt Retirement 115, % - - Interest Expense 77,500 38,750 38, % - - Total Debt Service 197,363 43,313 41,848 1, % - - TOTAL OPERATING EXPENSES 1,281, , ,296 29, % 85,893 80,893 Operating income (loss) 37, ,648 71,442 (104,206) % 41,337 35,094 Change in net assets $ 37,155 $ 175,648 $ 71,442 $ (104,206) % $ 41,337 $ 35,094 Notes: (1) The Principal Debt Retirement payment made each year for the Recreational Bond is reflected on the Balance Sheet. (2) The Operating Income earned shown above does not reflect the principal payment, but is an accurate reflection of the Enterprise Fund position. Report Date: 5/8/2017 Page 14

33 Agenda Page 33 Notes to the Financial Statements Balance Sheet Account Name Annual Budget YTD Actual % of Budget Explanation Assets Accounts Receivable 1,672 Due from Olympian Restaurant for phone & bev cart Investments - CD 21,299 Olympian Restaurant deposit was re-invested in a 12 month CD Prepaid Items 1,400 Tractor lease, Hospitality software agreement Deposits 3,456 TECO utility deposits Liabilities Accounts Payable 9,451 April invoices paid in May Accrued Expenses 8,516 Electricity, utilities, dishwasher, cart lease Due to HOA 12,951 Heritage Harbor Intercompany charges Accrued Interest Payable 32,292 Accrued interest payment Accrued Wages Payable 26,869 Accrued wages thru end of month Sales Tax Payable 8,115 Sales Tax owed to the State - paid the following month Deposits 19,500 Olympian Restaurant deposit Gift Certificates 703 Gift certificates not redeemed Due to Other Funds 230,208 Due to General Fund from Enterprise - includes $105,000 for Principal payment and $38,289 for Interest payment due in May Variance Analysis Golf Course Expenditures Contracts-Security Alarms % Maintenance Bldg monitoring - paid thru 3rd qtr Communication-Telephone 2,252 1, % Monthly phone service with Frontier Postage and Freight % HOA Intercompany charges - postage machine Utility - Refuse Removal 5,290 3, % Monthly trash service - increased slightly more than budgeted in February Rental/Lease - Vehicle/Equipment 44,090 31, % Rental of turf equipment and tractor-turf equipment lease increases in December Lease-Ice Machines 1, % Rental of ice machine Insurance - Property 15,299 14, % Property insurance paid in full R&M-Buildings 480 2, % Deck boards w/screws, batteries, padlock, Annual fire extinquisher inspection Misc-Property Tax 1,500 2, % Hillsborough County Ad-Valorem assessments Op Supplies - General 4,800 2, % Miscellaneous operating supplies and HOA charges, Employee incentives Pro Shop Expenditures Payroll - Hourly 149,000 89, % Pro Shop employees Communication-Telephone 3,138 2, % HOA Intercompany charges - Monthly phone service and long distance Postage and Freight % HOA Intercompany charges Utility - Water & Sewer 1,800 1, % HOA Intercompany charges - includes reclaimed water charges Insurance - Property 8,700 8, % Property Insurance paid in full for year R&M - Air Conditioning % HOA Intercompany charges - air conditioning repairs Advertising 10,500 6, % Advertising in different magazines and newspapers, Membership dues Misc-Property Tax 5,500 3, % Hillsborough County Ad-Valorem assessments Computer Expense 966 1, % Terminal repair w/onsite labor, SemiAnnual service maintenance agreement Supplies - Scorecards 500 1, % Full color scorecards, golf pencils Page 15

34 Agenda Page 34 Notes to the Financial Statements Account Name Annual Budget YTD Actual % of Budget Explanation Restaurant Expenditures Communication-Telephone 1,932 1, % HOA Intercompany charges - monthly phone service plus long distance Insurance - Property 8,572 8, % Property Insurance paid in full for year Misc-Property Tax 2, % Hillsborough County Ad-Valorem assessments Office Supplies % HOA Intercompany charges-misc office supplies Other Revenues Interest - Investments % Interest earned on the DS Trust Statement and the CD Expenditures ProfServ-Trustee 3,563 3, % Trustee fees paid for year Interest Expense 77,500 38, % Next payment to be made in May Page 16

35 Agenda Page 35 HERITAGE HARBOR Supporting Schedules April 30, 2017

36 Agenda Page 36 Non-Ad Valorem Special Assessments - Hillsborough County Tax Collector Monthly Collection Distributions For the Fiscal Year Ending September 30, 2017 Allocation by Fund Net Discount / Gross Date Amount (Penalties) Collection Amount General Debt Service Rcvd Received Amount Costs Interest Received Fund Fund Assessments Levied $1,046,315 $738,387 $307,928 Allocation % 100% 70.57% 29.43% 11/04/16 $ 12,291 $ 646 $ 251 $ (40) $ 13,148 $ 9,278 $ 3,869 11/16/16 51,141 2,174 1,044-54,359 38,362 15,998 11/23/16 164,227 6,982 3, , ,188 51,373 12/07/16 609,824 25,887 12, , , ,751 12/15/16 40,543 1, ,017 30,357 12,660 01/06/17 29, ,922 21,822 9,100 02/07/17 13, ,477 10,216 4,260 03/07/17 8, ,633 6,092 2,541 04/06/17 22, ,558 15,919 6,639 TOTAL $ 951,734 $ 38,713 $ 19,423 $ (40) $ 1,009,831 $ 712,640 $ 297,191 % COLLECTED 96.51% 96.51% 96.51% TOTAL OUTSTANDING $ 36,484 $ 25,747 $ 10,737 Prepared by: Severn Trent Management Services Page 17

37 Agenda Page 37 Cash and Investment Report April 30, 2017 ACCOUNT NAME BANK NAME MATURITY YIELD BALANCE GENERAL FUND Operating Checking Account SunTrust N/A 0.10% $5,289 Operating Checking Account Regions Bank N/A 0.00% $72,850 Operating Checking Account Jefferson Bank N/A 0.00% $623,921 Subtotal $702,060 Money Market Account BankUnited N/A 0.45% $101,915 (2) General Fund Total $803,975 DEBT SERVICE FUND Series 2008 Reserve Fund US Bank N/A 0.15% $28,329 (3) Series 2008 Revenue Fund US Bank N/A 0.15% $330,925 (3) Debt Service Total $359,254 ENTERPRISE FUND Operating Checking Account Regions Bank N/A 0.00% $19,475 Operating Checking Account Jefferson Bank N/A 0.00% $2,000 Subtotal $21,475 Petty Cash Cash N/A 0.00% $600 Certificate of Deposit - 12 months BankUnited 03/24/ % $21,299 (1) Series 1997 Interest Account US Bank N/A 0.00% $38,363 (4) Series 1997 Principal Account US Bank N/A 0.15% $107,004 (3) Series 1997 Reserve Account US Bank N/A 0.15% $100,000 (3) Enterprise Total $288,740 Total $1,451,969 NOTE 1 - Invested in Certificate of Deposit with BankUnited at.797% for 12 months starting on 3/24/17 and maturing on 3/24/18. NOTE 2 - Invested in Money Market Account at BankUnited. NOTE 3 - Invested in US Bank Open Ended Interest Bearing Corporate Commercial Paper. NOTE 4 - Invested in First American Gov't Obligation Funds Page 18

38 Agenda Page 38 General Fund Check Register For the Period from 04/01/17 to 04/30/17 (Sorted by Check No.) Fund No. Check No. Check Date Payee Invoice No. Invoice Description G/L Account Name G/L Account # Check Amount GENERAL FUND FUND /03/17 ODIS & PETE PAINTING 1129 PRESSURE WASHING Misc-Contingency $2, /04/17 SEVERN TRENT ENVIRONMENTAL SER MAR 2017 MGMT FEES ProfServ-Mgmt Consulting Serv $3, /04/17 SEVERN TRENT ENVIRONMENTAL SER MAR 2017 MGMT FEES ProfServ-Field Management $1, /04/17 SEVERN TRENT ENVIRONMENTAL SER MAR 2017 MGMT FEES Postage and Freight $ /04/17 SEVERN TRENT ENVIRONMENTAL SER MAR 2017 MGMT FEES Printing and Binding $ /04/17 SEVERN TRENT ENVIRONMENTAL SER MAR 2017 MGMT FEES Accounting Services $ /04/17 SEVERN TRENT ENVIRONMENTAL SER MAR 2017 MGMT FEES Misc-Web Hosting $ /04/17 GREENVIEW LANDSCAPING, INC 4HHMO17 APRIL 2017 MTHLY MAINT Contracts-Landscape $10, /04/17 STRALEY & ROBIN GEN MATTERS THRU 3/15/17 ProfServ-Legal Services $2, /06/17 AT&T MOBILITY II LLC /22/17-3/21/17 Contracts-Guard Services $ /11/17 A-QUALITY POOL SERVICE APRIL 2017 FOUNTAIN SVC Contracts-Fountain $ /11/17 AQUATIC SYSTEMS INC LAKE/WETLAND SVC APR 2017 Contracts-Lakes $3, /11/17 FEDEX POSTAGE 3/17/17 Postage and Freight $ /11/17 STANTEC CONSULTING SERVICES INC GEN CONSULTING THRU 3/17/17 ProfServ-Engineering $ /18/17 HILLSBOROUGH COUNTY SHERIFF'S OFC SECURITY 3/1/17-3/31/17 Contracts-Guard Services $1, /20/17 FRONTIER COMMUNICATIONS W MAIN GATE 4/7/17-5/6/17 Contracts-Gates $ /20/17 FRONTIER COMMUNICATIONS E MAIN GATE 4/1/17-4/30/17 Contracts-Gates $ /20/17 GREENVIEW LANDSCAPING, INC 4HHIRR17 IRR REPAIRS R&M-Irrigation $ /20/17 HERITAGE HARBOR HOA HOA CHGS LESS SHARED PR-MAR17 Accounts Receivable ($4,542.94) /20/17 OLM, INC LANDSCAPE INSPECT 4/6/17 Contracts-Landscape $1, /20/17 TIMES PUBLISHING COMPANY NOTICE OF WORKSHOP MTGS Legal Advertising $ /26/17 HIDDEN EYES LLC GATE MONITOR 2/1/17-2/28/17 Contracts-Gates $3, /26/17 HIDDEN EYES LLC GATE MONITOR 3/1/17-3/31/17 Contracts-Gates $3, /26/17 HIDDEN EYES LLC GATE MONITOR 5/1/17-5/31/17 Prepaid Items $3, /26/17 HIDDEN EYES LLC EAST GATE MNTR 4/1-6/30/17 Contracts-Gates $ /26/17 HIDDEN EYES LLC GATE ACCESS MNTR 4/1-6/30/17 Contracts-Gates $3, DD /03/17 Payment of Invoice BILL PRD 2/8/17-3/8/17 Utility - General $2, DD /19/17 Payment of Invoice BILL PRD 2/22/17-3/22/17 Utility - General $3, DD /25/17 Payment of Invoice BILL PRD 2/28-3/29/17 Utility - General $ Fund Total $45, Page 19 Report Date 5/8/2017 Prepared by: Severn Trent Management Services

39 Agenda Page 39 General Fund Check Register For the Period from 04/01/17 to 04/30/17 (Sorted by Check No.) Fund No. Check No. Check Date Payee Invoice No. Invoice Description G/L Account Name G/L Account # Check Amount CLEARING FUND FUND /14/17 TOBIAS A. SMITH PAYROLL April 14, 2017 Payroll Posting $ /14/17 DAVID J. EVARTS PAYROLL April 14, 2017 Payroll Posting $ /14/17 BRADLEY R. GARBUTT PAYROLL April 14, 2017 Payroll Posting $ /14/17 GREGORY A. WEHR PAYROLL April 14, 2017 Payroll Posting $ /14/17 CARRIE A. COOPER PAYROLL April 14, 2017 Payroll Posting $ /14/17 ROBERT D. BARLOW PAYROLL April 14, 2017 Payroll Posting $ /14/17 ASHELY M. LINDEMAN PAYROLL April 14, 2017 Payroll Posting $ DD /13/17 JOSEPH C. SAPONARA PAYROLL April 13, 2017 Payroll Posting $ DD /13/17 BENJAMIN R. CODDINGTON PAYROLL April 13, 2017 Payroll Posting $ DD /13/17 BRIAN T. DAWSY PAYROLL April 13, 2017 Payroll Posting $ DD /13/17 ARTURO PERALTA PAYROLL April 13, 2017 Payroll Posting $ /17/17 SHELLEY L. GRANDON PAYROLL April 17, 2017 Payroll Posting $ /17/17 DAVID L. PENZER PAYROLL April 17, 2017 Payroll Posting $ DD /17/17 RUSS W. ROSSI PAYROLL April 17, 2017 Payroll Posting $ DD /17/17 PATRICK GIAMBELLUCA PAYROLL April 17, 2017 Payroll Posting $ /28/17 SHELLEY L. GRANDON PAYROLL April 28, 2017 Payroll Posting $ /28/17 TOBIAS A. SMITH PAYROLL April 28, 2017 Payroll Posting $ /28/17 DAVID S. OWEN PAYROLL April 28, 2017 Payroll Posting $ /28/17 DAVID J. EVARTS PAYROLL April 28, 2017 Payroll Posting $ /28/17 GREGORY A. WEHR PAYROLL April 28, 2017 Payroll Posting $ /28/17 CARRIE A. COOPER PAYROLL April 28, 2017 Payroll Posting $ /28/17 ROBERT D. BARLOW PAYROLL April 28, 2017 Payroll Posting $ /28/17 ASHELY M. LINDEMAN PAYROLL April 28, 2017 Payroll Posting $ /28/17 DAVID L. PENZER PAYROLL April 28, 2017 Payroll Posting $ DD /27/17 BENJAMIN R. CODDINGTON PAYROLL April 27, 2017 Payroll Posting $ DD /27/17 BRIAN T. DAWSY PAYROLL April 27, 2017 Payroll Posting $ DD /27/17 ARTURO PERALTA PAYROLL April 27, 2017 Payroll Posting $ DD /27/17 PATRICK GIAMBELLUCA PAYROLL April 27, 2017 Payroll Posting $ Fund Total $7, Page 20 Total Checks Paid $53, Report Date 5/8/2017 Prepared by: Severn Trent Management Services

40 Agenda Page 40 Enterprise Fund Check Register For the Period from 04/01/17 to 04/30/17 (Sorted by Check No.) Fund No. Check No. Check Date Payee Invoice No. Invoice Description G/L Account Name G/L Account # Check Amount ENTERPRISE FUND FUND Page /03/17 AL'S LAWN CARE PRODUCTS AND SERVICE DRIVE SHAFT/SPROCKET/CHAIN R&M-Equipment $ /03/17 EEI SECURITY, INC MONTR MAINT BLDG APR17-JUN17 Prepaid Items $ /03/17 EEI SECURITY, INC MONTR PRO SHOP APR17-JUN17 Prepaid Items $ /03/17 EEI SECURITY, INC MONTR CART BARN APR17-JUN17 Prepaid Items $ /03/17 GOLF COAST MAGAZINE, INC HH SPRING 2017 ISSUE Advertising $ /03/17 MILNER DISTRIBUTION ALLIANCE SUNGLASSES COS - Miscellaneous $ /03/17 TCF EQUIPMENT FINANCE TORO TURF EQUIP MAR 2017 Rental/Lease - Vehicle/Equip $4, /03/17 TOWN TALK MFG CO INC MENS WEAR COS - Men's Wear $ /04/17 SEVERN TRENT ENVIRONMENTAL SER MAR 2017 MGMT FEES Accounting Services $ /04/17 SEVERN TRENT ENVIRONMENTAL SER MAR 2017 MGMT FEES Accounting Services $ /04/17 SEVERN TRENT ENVIRONMENTAL SER MAR 2017 MGMT FEES Accounting Services $ /06/17 AMAZON.COM STARTER SOLENOID R&M-Equipment $ /06/17 AMAZON.COM RAIN-X/LEATHERMAN SIDEKICK R&M-Golf Course $ /06/17 AMAZON.COM RAIN-X/LEATHERMAN SIDEKICK R&M-Equipment $ /06/17 GO FOR SUPPLY, INC BALL WASHER R&M-Golf Course $ /06/17 HARRELL'S LLC INV GREENS GRADE R&M-Fertilizer $1, /06/17 TITLEIST ACUSHNET COMPANY GOLF BALLS COS - Golf Balls $ /06/17 WASTE MANAGEMENT TAMPA REFUSE REMOVAL APRIL 2017 Utility - Refuse Removal $ /11/17 SITEONE LANDSCAPE SUPPLY TAURUS/BANDIT/ /WETTER Op Supplies - Chemicals $1, /11/17 SITEONE LANDSCAPE SUPPLY TAURUS/BANDIT/ /WETTER R&M-Fertilizer $ /18/17 DGMORRISON, INC. SO ,000 SCORECARDS Supplies - Scorecards $ /18/17 TITLEIST ACUSHNET COMPANY GOLF BALLS COS - Golf Balls $1, /18/17 TITLEIST ACUSHNET COMPANY GOLF BALLS COS - Golf Balls $ /18/17 WESCO TURF, INC LATCH / BLADE R&M-Equipment $ /20/17 CA-RY INDUSTRIES, INC BLUE DUE OP SUPPLIES CHEMICAL $ /20/17 CHARTER COMMUNICATIONS, LLC BILL PRD 4/18/17-5/17/17 Misc-Cable TV Expenses $ /20/17 DEERE CREDIT TRACTOR LEASE - MAY 2017 Prepaid Items $ /20/17 DUNNDEAL ADVERTISING CO APR 2017 GAZETTE ISSUE ADVERTISING $ /20/17 HERITAGE HARBOR HOA HOA CHGS LESS SHARED PR-MAR 17 Due To HOA $8, /20/17 LIQUID ED, INC COOLER/FILTERS/TIRE R/M EQUIPMENT $ /20/17 PALMDALE FUEL UNLEADED/DIESEL Op Supplies - Fuel, Oil $ /20/17 SITEONE LANDSCAPE SUPPLY FAIRWAY R&M-Fertilizer $ /20/17 SITEONE LANDSCAPE SUPPLY E WARM SEASON PKG - APR 2017 Op Supplies - Chemicals $ Report Date 5/8/2017 Prepared by: Severn Trent Management Services

41 Agenda Page 41 Enterprise Fund Check Register For the Period from 04/01/17 to 04/30/17 (Sorted by Check No.) Fund No. Check No. Check Date Payee Invoice No. Invoice Description G/L Account Name G/L Account # Check Amount /20/17 SUNCOAST JANI-PRO CLOROX/TLT TISS/TOWELS/PINESOL Op Supplies - General $ /20/17 TCF NATIONAL BANK CART LEASE MAR 2017 Lease - Carts $5, /20/17 THE TORO COMPANY ESSENTIALS MAR 2017 R&M-Pumps $ /20/17 THE TORO COMPANY ESSENTIALS APRIL 2017 Prepaid Items $ /20/17 TIMES PUBLISHING COMPANY GOLF AD 4/16/17, 4/23/17 Advertising $ /21/17 MAM INVESTMENT PROPERTIES, LLC L DSHWSHR RNTL MAR 2017 Lease - Dishwasher $ /21/17 MAM INVESTMENT PROPERTIES, LLC L SFTNR MAR 2017 Op Supplies - General $ /21/17 HERITAGE HARBOR % US BANK N.A. DS1997-PAY XFR FOR PRIN PYMT SERIES 1997 Principal Debt Retirement $105, /21/17 HERITAGE HARBOR % US BANK N.A. DS1997-PAY XFR FOR INT PYMT SERIES 1997 Interest Expense $38, /26/17 B.O.C.C BILL PRD 2/28/17-3/29/17 Utility - Water & Sewer $ /26/17 HOSPITALITY DATA SYSTEMS SVC MAINT AGRM 6/1/17-11/30/17 Prepaid Items $ /26/17 SITEONE LANDSCAPE SUPPLY SEVIN/IRON/WET PLUS Op Supplies - Chemicals $ /26/17 SITEONE LANDSCAPE SUPPLY SEVIN/IRON/WET PLUS R&M-Fertilizer $ DD /03/17 Payment of Invoice BILL PRD 2/8/17-3/8/17 Electricity - General $1, DD /03/17 Payment of Invoice BILL PRD 2/8/17-3/8/17 Electricity - General $ Fund Total $181, Total Checks Paid $181, Page 22 Report Date 5/8/2017 Prepared by: Severn Trent Management Services

42 Sixth Order of Business Agenda Page 42

43 Agenda Page 43 HERITAGE HARBOR Annual Operating and Debt Service Budget Fiscal Year 2018 Version 2 - Proposed Budget w/enterprise Debt Service included (Printed on 5/10/17 12:00pm) Prepared by:

44 Agenda Page 44 Table of Contents Page # GENERAL FUND Summary of Revenues, Expenditures and Changes in Fund Balances Exhibit A - Allocation of Fund Balances. 4-5 Budget Narrative 6-11 DEBT SERVICE FUND Series 2008 Summary of Revenues, Expenditures and Changes in Fund Balances.. 12 Amortization Schedule.. 13 SUPPORTING SCHEDULE Comparison of Assessment Rates. 14

45 Agenda Page 45 HERITAGE HARBOR General Fund Fiscal Year 2018

46 Agenda Page 46 General Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2018 Proposed Budget REVENUES ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL ACTUAL BUDGET THRU MAY - PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2014 FY 2015 FY 2016 FY 2017 APR-2017 SEP-2017 FY 2017 FY 2018 Interest - Investments $ 2,236 $ 3,692 $ 2,637 $ 2,700 $ 2,073 $ 1,050 $ 3,123 $ 2,700 Interest - Tax Collector Special Assmnts- Tax Collector 738, , , , ,640 25, , ,551 Special Assmnts- Discounts (25,952) (26,586) (26,364) (29,535) (27,292) (55) (27,347) (39,862) Other Miscellaneous Revenues TOTAL REVENUES 714, , , , ,501 26, , ,389 EXPENDITURES Administrative P/R-Board of Supervisors 12,200 10,600 11,800 12,000 7,400 5,000 12,400 12,000 FICA Taxes ProfServ-Engineering 2,392 8,262 9,058 9,000 1,962 4,000 5,962 9,000 ProfServ-Legal Services 4,448 4,094 4,140 6,000 3,693 4,000 7,693 6,000 ProfServ-Mgmt Consulting Serv 55,000 55,000 55,000 56,100 36,550 19,550 56,100 56,100 ProfServ-Property Appraiser 13,790 13,914 7, Accounting Services Auditing Services 8,275 6,000 6,000 6,000 8,275-8,275 8,275 Postage and Freight 1, Insurance - General Liability 11,244 10,493 10,999 12,099 10,819-10,819 11,901 Printing and Binding 2,198 2, , ,000 1,221 2,400 Legal Advertising ,200 1, ,338 1,200 Miscellaneous Services 799 1, , Misc-Assessmnt Collection Cost 10,726 11,030 2,863 14,768 13, ,222 19,931 Misc-Web Hosting - 1,000 1,000 1, ,000 1,000 Office Supplies Annual District Filing Fee Total Administrative 124, , , ,720 86,783 37, , ,960 Annual Operating and Debt Service Budget Fiscal Year

47 Agenda Page 47 General Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2018 Proposed Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL ACTUAL BUDGET THRU MAY - PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2014 FY 2015 FY 2016 FY 2017 APR-2017 SEP-2017 FY 2017 FY 2018 Field Payroll-Salaried 16,422 5,519 42,735 45,600 26,759 18,725 45,484 45,600 FICA Taxes 2, ,118 6,510 4,078 2,900 6,978 7,200 Life and Health Insurance 10,849 3,955 4,495 4,800 2,159 2,100 4,259 4,800 ProfServ-Field Management - 10,000 15,000 15,000 8,750 6,250 15,000 15,000 Contracts-Guard Services 134, , , ,560 78,658 61, , ,660 Contracts-Fountain 1,680 1,680 1,680 1, ,680 1,680 Contracts-Landscape 124, , , ,800 79,800 57, , ,800 Contracts-Lakes 21,036 21,036 37,536 37,536 23,646 17,390 41,036 41,736 Contracts-Gates - 50,138 50,190 50,280 29,673 21,145 50,818 50,280 Utility - General 76,212 70,738 72,903 79,800 47,924 31,125 79,049 74,700 R&M-General 8,574 1,073 5,041 9,000 8,568 4,000 12,568 9,000 R&M-Gate 698 1,468 3,575 5,000-1,150 1,150 4,800 R&M-Other Landscape 75,281 39,330 44,330 28,800 21,795 6,000 27,795 28,800 R&M-Irrigation 2,635 3,510 2,350 6,000 2,155 2,500 4,655 6,000 R&M-Lake , ,200 R&M-Mitigation ,260-2,260 2,260 2,260 R&M-Trees and Trimming ,000-7,500 7,500 10,000 R&M-Parks & Facilities , ,600 Misc-Holiday Decor 1,945 2,982 11,004 7,500 8,847-8,847 8,500 Misc-Contingency 7,937 14,375 23,437 15,000 4,274 5,000 9,274 15,000 Capital Outlay - 7,100 35, ,000 35,000 - Reserve - Fountain , ,000 Reserve - Gate/Entry Feature , ,000 Reserve - Lake Embankm/Drainage , ,000 Reserve - Landscaping , ,000 Total Field 484, , , , , , , ,616 TOTAL EXPENDITURES 609, , , , , , , ,576 Annual Operating and Debt Service Budget Fiscal Year

48 Agenda Page 48 General Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2018 Proposed Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL ACTUAL BUDGET THRU MAY - PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2014 FY 2015 FY 2016 FY 2017 APR-2017 SEP-2017 FY 2017 FY 2018 Excess (deficiency) of revenues Over (under) expenditures 105,265 97,238 (28,109) (54,094) 252,652 (293,042) (40,390) 192,813 OTHER FINANCING SOURCES (USES) Funding Enterprise Debt Service (192,813) Contribution to (Use of) Fund Balance (54,094) TOTAL OTHER SOURCES (USES) (54,094) (192,813) Net change in fund balance 105,265 97,238 (28,109) (54,094) 252,652 (293,042) (40,390) - FUND BALANCE, BEGINNING 593, , , , , , ,504 FUND BALANCE, ENDING $ 698,765 $ 796,003 $ 767,894 $ 713,800 $ 1,020,546 $ (293,042) $ 727,504 $ 727,504 Annual Operating and Debt Service Budget Fiscal Year

49 Agenda Page 49 General Fund Exhibit "A" Allocation of Fund Balances AVAILABLE FUNDS Amount Beginning Fund Balance - Fiscal Year 2018 $ 727,504 Net Change in Fund Balance - Fiscal Year Reserves - Fiscal Year 2018 Additions 20,000 Total Funds Available (Estimated) - 9/30/ ,504 ALLOCATION OF AVAILABLE FUNDS Nonspendable Fund Balance Deposits 2,000 Subtotal 2,000 Assigned Fund Balance Operating Reserve - First Quarter Operating Capital 190,619 (1) Reserve - Fountains (Prior Years) 19,600 (2) Reserve - Fountains (Current Year) 2,000 (3) Reserve - Fountains (Budget Year) 2,000 (4) 23,600 Reserve - Gate/Entry Features (Prior Years) 49,191 (2) Reserve - Gate/Entry Features (Current Year) 6,000 (3) Reserve - Gate/Entry Features (Budget Year) 6,000 (4) 61,191 Reserve - Irrigation System - 100,000 Reserve - Lake Embankments (Prior Years) 58,800 (2) Reserve - Lake Embankments (Current Year) 6,000 (3) Reserve - Lake Embankments (Budget Year) 6,000 (4) 70,800 Reserve - Landscape (Prior Years) 58,800 (2) Reserve - Landscape (Current Year) 6,000 (3) Reserve - Landscape (Budget Year) 6,000 (4) 70,800 Subtotal 517,010 Annual Operating and Debt Service Budget Fiscal Year

50 Agenda Page 50 General Fund Total Allocation of Available Funds 519,010 Total Unassigned Cash $ 228,494 Notes (1) Represents approximately 3 months of operating expenditures less Enterprise DS Payment (2) Represents budgeted reserves (FY 2003 through FY 2016) for Fountains, Gate/Entry Features, Lake Embankments and Landscape (3) Represents budgeted reserves for FY 2017 for Fountains, Gate/Entry Features, Lake Embankments and Landscape that will be reserved at end of year 2016 (4) Represents proposed budgeted reserves for FY 2018 that is being reserved for Fountains, Gate/Entry Features, Lake Embankments and Landscape Annual Operating and Debt Service Budget Fiscal Year

51 Agenda Page 51 General Fund Budget Narrative Fiscal Year 2018 REVENUES Interest-Investments The District earns interest on the monthly average collected balance for their operating and money market accounts. 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-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. FICA Taxes These are the Payroll taxes paid for the Board of Supervisors. 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. Annual Operating and Debt Service Budget Fiscal Year

52 Agenda Page 52 General Fund Budget Narrative Fiscal Year 2018 EXPENDITURES Administrative (continued) 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. Professional Services-Management Consulting Services The District receives Management, Accounting, Administrative and Assessment services as part of a Management Agreement with Severn Trent Environmental 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 Severn Trent 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. Accounting Services The District now has payroll for the guard services being processed by Severn Trent Environmental Services, Inc. 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 the current audit 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 and Umbrella Policy is with Brown & Brown. The District also has a TECO Utility Bond with Florida Municipal Insurance Trust (FMIT). 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. Annual Operating and Debt Service Budget Fiscal Year

53 Agenda Page 53 General Fund Budget Narrative Fiscal Year 2018 EXPENDITURES Administrative (continued) 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 Services This includes monthly bank charges and any other miscellaneous expenses that may be incurred during the year. Miscellaneous-Assessment Collection Costs The District reimburses the Hillsborough 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. Miscellaneous-Web Hosting The District is mandated to post on the internet the approved and adopted budgets, minutes and audits per State requirements. Office Supplies Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects. Annual District Filing Fee The District is required to pay an annual fee of $175 to the Department of Community Affairs. Field Payroll Salaried This is for the front office staff payroll which is billed back to the HOA in a 50/50 split. Annual Operating and Debt Service Budget Fiscal Year

54 Agenda Page 54 General Fund Budget Narrative Fiscal Year 2018 EXPENDITURES Field (continued) FICA Taxes These are the Payroll taxes paid for the front office staff which is billed back to the HOA in a 50/50 split. Life and Health Insurance This is the health insurance for the front office staff which is billed back to the HOA in a 50/50 split. Professional Services Field Management This service includes coordinating with vendors regarding service contracts, purchase orders, invoice approval and insurance damage claims to facilitate field operations. Also coordinate activities with the HOA. Contracts Guard Services The District has a contract with Hillsborough County Sheriff s Office for rover guard services. Also included is mobile phone service with AT&T Mobility. Contracts Fountain The District has a contract with A-Quality Pool Service to maintain the entrance fountain. Contracts Landscape The District has a contract with Greenview Landscaping for landscape services and mowing along the pond banks plus a contract with OLM, Inc. for landscape inspections. Contracts Lake The District has a contract with Aquatic Systems to maintain all of the lakes in the District. Contracts Gates The District has a contract with Envera for Gate monitoring and maintenance services and phone services with Verizon for the gate. Utility General The District uses both TECO and BOCC as utility service providers. Annual Operating and Debt Service Budget Fiscal Year

55 Agenda Page 55 General Fund Budget Narrative Fiscal Year 2018 EXPENDITURES Field (continued) R&M-General The District will incur routine repair and maintenance expenditures to maintain the District s property. R&M-Gate The District will incur routine repair and maintenance expenditures to maintain the District s gates. R&M-Other Landscape The District will incur costs associated with the landscape and plant maintenance around the District. R&M-Irrigation The District will incur costs associated with the routine irrigation maintenance around the District. R&M-Lake The District will incur costs associated with miscellaneous maintenance of the lakes throughout the District. R&M-Mitigation The District will incur costs associated with mitigation maintenance of the lakes throughout the District. R&M-Trees and Trimming The District will incur costs associated with the tree trimming and maintenance around the District. R&M-Parks & Facilities The District will incur costs associated with the new multi-purpose field/park. R&M-Holiday Decor The District will incur costs associated with seasonal décor of the District. Annual Operating and Debt Service Budget Fiscal Year

56 Agenda Page 56 General Fund Budget Narrative Fiscal Year 2018 EXPENDITURES Field (continued) Miscellaneous - Contingency This is for miscellaneous expenditures not accounted for in the budget. Reserve - Fountains These are the Reserves the District expects to set aside for Fountains. Reserve Gate/Entry Features These are the Reserves the District expects to set aside for Gate/Entry Features. Reserve Lake Embankments These are the Reserves the District expects to set aside for Lake Embankments. Reserve - Landscape These are the Reserves the District expects to set aside for Landscaping. Other Financing Sources (Uses) Funding Enterprise Debt Service This is for the funding of the Enterprise Recreation Bond Principal and Interest Payments for FY Annual Operating and Debt Service Budget Fiscal Year

57 Agenda Page 57 HERITAGE HARBOR Debt Service Fund Fiscal Year 2018

58 Agenda Page Debt Service Fund Summary of Revenues, Expenditures and Changes in Fund Balances Fiscal Year 2018 Proposed Budget REVENUES ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL ACTUAL BUDGET THRU MAY - PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2014 FY 2015 FY 2016 FY 2017 APR-2017 SEP-2017 FY 2017 FY 2018 Interest - Investments $ 79 $ 79 $ 123 $ - $ 141 $ 30 $ 171 $ - Special Assmnts- Tax Collector 307, , , , ,191 10, , ,928 Special Assmnts- Discounts (10,823) (11,087) (10,994) (12,317) (11,382) - (11,382) (12,317) - TOTAL REVENUES 297, , , , ,950 10, , ,611 EXPENDITURES Administrative ProfServ-Property Appraiser 5,751 5,802 2, ProfServ-Trustee 3,771 4,337 4,337 4,337-4,337 4,337 4,337 Misc-Assessmnt Collection Cost 4,473 4,600 1,794 6,159 5, ,931 6,159 Total Administrative 13,995 14,739 9,100 10,496 5,716 4,766 10,482 10,496 Debt Service Principal Debt Retirement 220, , , , , , ,000 Interest Expense Series A 62,409 53,037 43,239 33,015 16,508 16,508 33,016 22,365 Total Debt Service 282, , , ,015 16, , , ,365 TOTAL EXPENDITURES 296, , , ,511 22, , , ,861 Excess (deficiency) of revenues Over (under) expenditures 780 (856) 4,718 2, ,726 (260,507) 3,219 7,750 OTHER FINANCING SOURCES (USES) Contribution to (Use of) Fund Balance , ,750 TOTAL OTHER SOURCES (USES) , ,750 Net change in fund balance 780 (856) 4,718 2, ,726 (260,507) 3,219 7,750 FUND BALANCE, BEGINNING 97,392 98,172 97, , , , ,253 FUND BALANCE, ENDING $ 98,172 $ 97,316 $ 102,034 $ 104,134 $ 365,760 $ (260,507) $ 105,253 $ 113,003 Annual Operating and Debt Service Budget Fiscal Year

59 Agenda Page Debt Service Fund SERIES 2008 REFUNDING BONDS AMORTIZATION SCHEDULE Extraordinary Fiscal Year Date Balance Rate Redemptions Principal Interest Total 11/01/17 525, % - 11, /01/18 525, % 255, , , /01/18 270, % - 5, /01/19 270, % 270, , , $ - $ 525, $ 33, $ 558, Annual Operating and Debt Service Budget Fiscal Year

60 Agenda Page 60 HERITAGE HARBOR Supporting Schedule Fiscal Year 2018

61 Agenda Page 61 All Funds Comparison of Assessment Rates* Fiscal Year 2018 vs. Fiscal Year 2017 General Fund Debt Service Total Assessments per Unit Units Bond FY 2018 FY 2017 Percent FY 2018 FY 2017 Percent FY 2018 FY 2017 Percent Units Product Change Change Change 50 x 110 $1, $1, % $ $ % $1, $1, % x 120,125 $1, $1, % $ $ % $1, $1, % x 110 $1, $1, % $ $ % $1, $1, % x 115 $1, $1, % $ $ % $2, $1, % x 130 $1, $1, % $ $ % $2, $1, % *with the Enterprise Debt Service added to General Fund budget Annual Operating and Debt Service Budget Fiscal Year

62 Agenda Page 62 HERITAGE HARBOR Annual Enterprise Fund Budget Fiscal Year 2018 Version 2 - Proposed Budget (Printed on 05/10/17 12:00pm ) Prepared by:

63 Agenda Page 63 Table of Contents Page # OPERATING BUDGET Enterprise Fund Summary of Revenues, Expenditures and Changes in Net Assets Golf Course / Pro Shop Restaurant Other Consolidated Amortization Schedule... 28

64 Agenda Page 64 HERITAGE HARBOR Operating Budget Fiscal Year 2018

65 Agenda Page 65 Golf Course / Pro Shop Summary of Revenues, Expenses and Changes in Net Assets Fiscal Year 2018 Proposed Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL ACTUAL BUDGET THRU MAY - PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2014 FY 2015 FY 2016 FY 2017 APR-2017 SEP-2017 FY 2017 FY 2018 OPERATING REVENUES Golf Course Green Fees $ 1,045,369 $ 1,020,063 $ 975,027 $ 1,170,000 $ 650,025 $ 335,000 $ 985,025 $ 973,692 Club Rentals Range Fees 44,824 46,451 40,740 48,000 24,763 14,560 39,323 38,804 Handicaps , Revenue-Employees Pro Shop Total 1,090,358 1,066,599 1,015,912 1,220, , ,630 1,024,488 1,012,621 Golf Ball Sales 19,793 24,736 22,102 22,500 14,291 9,375 23,666 20,795 Glove Sales 5,628 5,793 6,458 6,000 3,503 1,800 5,303 5,576 Headwear Sales 3,842 3,913 3,894 3,900 2,698 1,300 3,998 3,664 Ladies' Wear Sales Men's Wear Sales 930 1,303 1,846 1, ,363 1,470 Miscellaneous Sales 3,761 3,425 2,553 3, ,123 2,402 Total 33,954 39,170 36,853 37,950 22,095 13,358 35,453 33,907 TOTAL OPERATING REVENUES 1,124,312 1,105,769 1,052,765 1,258, , ,988 1,059,941 1,046,528 COST OF GOODS SOLD COS - Golf Balls 10,799 13,923 12,233 10,200 6,624 4,250 10,874 10,500 COS - Gloves 2,912 4,122 1,845 3,200 2,228 1,335 3,563 3,200 COS - Headwear 1,937 1,967 2,247 1, ,530 1,600 COS - Ladies' Wear COS - Men's Wear COS - Miscellaneous 1,271 1, , ,369 1,500 Total Cost of Goods Sold 17,206 22,041 18,204 18,260 10,925 7,285 18,210 17,675 GROSS PROFIT 1,107,106 1,083,728 1,034,561 1,239, , ,703 1,041,731 1,028,853 Annual Enterprise Fund Budget Fiscal Year

66 Agenda Page 66 Golf Course / Pro Shop Summary of Revenues, Expenses and Changes in Net Assets Fiscal Year 2018 Proposed Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL ACTUAL BUDGET THRU MAY - PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2014 FY 2015 FY 2016 FY 2017 APR-2017 SEP-2017 FY 2017 FY 2018 OPERATING EXPENSES Golf Course Payroll-Hourly 300, , , , , , , ,500 Payroll - Bonus 8,000-1, Payroll - Incentive FICA Taxes 43,246 41,503 43,477 45,000 27,665 18,750 46,415 45,000 Life and Health Insurance 18,855 23,928 22,660 25,462 13,193 9,645 22,838 23,842 Accounting Services 9,000 9,000 9,000 9,000 5,250 3,750 9,000 9,000 Contracts-Lakes 16,500 16, Contracts-Security Alarms Communication - Telephone 2,110 2,197 2,271 2,252 1, ,292 2,296 Postage and Freight Electricity - General 16,532 13,841 14,654 14,400 8,447 6,000 14,447 16,200 Utility - Refuse Removal 4,264 4,524 4,955 5,290 3,124 2,272 5,396 5,644 Utility - Water & Sewer 6,817 7,018 6,699 6,600 3,115 2,500 5,615 6,600 Rental/Lease - Vehicle/Equip 39,220 39,517 42,240 44,090 31,417 12,673 44,090 44,090 Lease - Ice Machines 1,538 1,400 1,550 1, ,513 1,500 Insurance - Property 15,102 14,210 13,908 15,299 14,542-14,542 15,996 R&M-Buildings 395 5, , , R&M-Equipment 17,643 15,725 15,114 15,900 7,426 6,000 13,426 15,900 R&M-Fertilizer 23,081 27,630 20,181 30,000 10,289 8,500 18,789 30,000 R&M-Irrigation 4,268 5,657 9,514 6,000 1,091 2,500 3,591 6,000 R&M-Golf Course 7,171 7,701 3,966 8,100 1,870 3,375 5,245 8,100 R&M-Pumps 4,066 2,921 2,958 3,648 1,603 1,445 3,048 3,648 Misc-Property Taxes 1, ,500 2,488-2,488 1,500 Misc-Licenses & Permits Op Supplies - General 5,476 4,451 5,274 4,800 2,754 1,750 4,504 4,800 Op Supplies - Uniforms 3, Annual Enterprise Fund Budget Fiscal Year

67 Agenda Page 67 Golf Course / Pro Shop Summary of Revenues, Expenses and Changes in Net Assets Fiscal Year 2018 Proposed Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL ACTUAL BUDGET THRU MAY - PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2014 FY 2015 FY 2016 FY 2017 APR-2017 SEP-2017 FY 2017 FY 2018 Op Supplies - Fuel, Oil 34,810 21,941 15,444 24,000 7,333 7,000 14,333 18,000 Op Supplies - Chemicals 31,069 30,996 33,487 33,150 18,522 13,500 32,022 33,150 Op Supplies - Hand tools 3, , ,000 1,000 Supplies - Sand 2,086 1,790 2,590 3, ,100 2,752 3,800 Supplies - Top Dressing 1,753 2,372 1,755 1, ,047 1,800 1,800 Supplies - Seeds 4,551-6,640 6,700 3,085 3,615 6,700 6,700 Total Golf Course 627, , , , , , , ,610 Pro Shop Payroll-Hourly 133, , , ,000 89,319 62, , ,000 Payroll - Bonus 8,000-1, FICA Taxes 20,582 20,950 21,089 22,500 13,614 9,500 23,114 22,500 Life and Health Insurance 12,693 8,640 15,057 16,686 9,305 7,075 16,380 17,489 ProfServ-Web Site Development 1, , ,000 Accounting Services 9,000 9,000 9,000 9,000 5,250 3,750 9,000 9,000 Contracts-Janitorial Services 11,586 12,222 5,593 11,700 3,897 2,945 6,842 11,700 Contracts-Security Alarms 2,682 1,378 2,908 2, ,568 2,157 Communication - Telephone 2,745 2,871 3,137 3,138 2,222 1,620 3,842 3,900 Postage and Freight Electricity - General 11,199 11,832 11,748 12,600 5,676 4,250 9,926 12,000 Utility - Refuse Removal Utility - Water & Sewer 2,275 3,396 1,543 1,800 1, ,224 3,240 Lease - Copier Lease - Carts 70,560 70,560 70,560 70,560 41,160 29,400 70,560 70,560 Insurance - Property 8,894 8,368 7,909 8,700 8,269-8,269 9,096 R&M-General 2,181 8,819 8,336 6,000 2, ,369 6,000 R&M-Air Conditioning , R&M-Pest Control 1,148 1,184 2,114 2, ,261 2,148 Annual Enterprise Fund Budget Fiscal Year

68 Agenda Page 68 Golf Course / Pro Shop Summary of Revenues, Expenses and Changes in Net Assets Fiscal Year 2018 Proposed Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL ACTUAL BUDGET THRU MAY - PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2014 FY 2015 FY 2016 FY 2017 APR-2017 SEP-2017 FY 2017 FY 2018 R&M-Range - 1, Advertising 9,811 10,225 9,568 10,500 6,390 4,000 10,390 10,500 Misc-Bank Charges 25,282 31,573 33,049 27,000 15,686 12,000 27,686 27,000 Misc-Cable TV Expenses 1,319 1,359 1,386 1, ,404 1,455 Misc-Property Taxes 5,798 5,481 5,375 5,500 3,831-3,831 5,500 Misc-Handicap Fees Office Supplies ,465 1, ,200 Computer Expense , , Op Supplies - General Supplies - Scorecards 1, ,352-1, Reserve 10,505 10,505 10,505 10,505 6,128 4,377 10,505 10,505 Total Pro Shop 356, , , , , , , ,021 TOTAL OPERATING EXPENSES 984, , , , , , , ,631 Operating income (loss) 122, ,645 65, , ,913 (30,142) 82,771 31,222 Annual Enterprise Fund Budget Fiscal Year

69 Agenda Page 69 Restaurant Summary of Revenues, Expenses and Changes in Net Assets Fiscal Year 2018 Proposed Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL ACTUAL BUDGET THRU MAY - PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2014 FY 2015 FY 2016 FY 2017 APR-2017 SEP-2017 FY 2017 FY 2018 OPERATING REVENUES Restaurant Rents or Royalties $ 80,964 $ 80,009 $ 78,914 $ 78,000 $ 45,500 $ 32,500 $ 78,000 $ 78,000 TOTAL OPERATING REVENUES 80,964 80,009 78,914 78,000 45,500 32,500 78,000 78,000 OPERATING EXPENSES Restaurant Payroll-Hourly 10,490 10,896 3,432 5,495 3,264 1,632 4,896 4,895 ProfServ-Web Site Development 1, , ,200 Accounting Services 1,200 1,200 1,200 1, ,200 1,200 Contracts-Janitorial Services 1,095 1,327 2,162 2, ,015 1,649 2,440 Contracts-Security Alarms 2, ,972 1, ,883 Communication - Telephone 1,433 1,503 1,937 1,932 1,532 1,125 2,657 1,932 Electricity - General 11,435 10,933 12,384 12,480 5,307 3,250 8,557 12,480 Utility - Refuse Removal 4,185 3,972 4,434 4,567 2,647 1,891 4,538 4,674 Utility - Water & Sewer 2,275 3,396 1,543 3,600 1, ,349 3,600 Lease - Copier , ,200 Lease - Dishwasher Insurance - Property 8,763 8,245 7,793 8,572 8,148-8,148 8,963 R&M-Air Conditioning 2,349 1,402 10, R&M-Buildings 849 9,604 4,772 6,000 2, ,932 2,100 R&M-Pest Control 1,148 1,184 3,083 3, ,371 2,368 3,617 Misc-Property Taxes 1,841 1, , ,000 Misc-Cable Music Annual Enterprise Fund Budget Fiscal Year

70 Agenda Page 70 Restaurant Summary of Revenues, Expenses and Changes in Net Assets Fiscal Year 2018 Proposed Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL ACTUAL BUDGET THRU MAY - PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2014 FY 2015 FY 2016 FY 2017 APR-2017 SEP-2017 FY 2017 FY 2018 Office Supplies Computer Expense , ,200 Reserve 24,511 24,511 24,511 24,511 14,298 10,213 24,511 24,511 Total Restaurant 78,066 84,971 85,237 84,438 45,333 25,195 70,528 80,422 TOTAL OPERATING EXPENSES 78,066 84,971 85,237 84,438 45,333 25,195 70,528 80,422 Operating income (loss) 2,898 (4,962) (6,323) (6,438) 167 7,305 7,472 (2,422) Annual Enterprise Fund Budget Fiscal Year

71 Agenda Page 71 Other Summary of Revenues, Expenses and Changes in Net Assets Fiscal Year 2018 Proposed Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL ACTUAL BUDGET THRU MAY - PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2014 FY 2015 FY 2016 FY 2017 APR-2017 SEP-2017 FY 2017 FY 2018 OPERATING REVENUES Other Interest - Investments $ 126 $ 404 $ 179 $ 400 $ 210 $ 65 $ 275 $ 300 Sale of Surplus Equipment Other Miscellaneous Revenues Total TOTAL OPERATING REVENUES OPERATING EXPENSES Debt Service ProfServ-Arbitrage Rebate ProfServ-Dissemination Agent 1,000 1,000 1,000 1,000-1,000 1,000 1,000 ProfServ-Trustee 2,658 3,098 3,098 3,563 3,098-3,098 3,563 Principal Debt Retirement 90, , , , , , ,000 Interest Expense 100,201 92,354 82,796 77,500 38,750 38,363 77,113 67,813 Total Debt Service 194, , , ,363 41, , , ,676 TOTAL OPERATING EXPENSES 194, , , ,363 41, , , ,676 Operating income (loss) (193,532) (196,348) (196,996) (196,963) (41,638) (144,598) (186,236) (197,376) OTHER FINANCING SOURCES (USES) Funding From GF For Debt Service ,813 TOTAL OTHER SOURCES (USES) ,813 Change in net assets (193,532) (196,348) (196,996) (196,963) (41,638) (144,598) (186,236) (4,563) Annual Enterprise Fund Budget Fiscal Year

72 Agenda Page 72 Consolidated Enterprise Fund Summary of Revenues, Expenses and Changes in Net Assets Fiscal Year 2018 Proposed Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL ACTUAL BUDGET THRU MAY - PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2014 FY 2015 FY 2016 FY 2017 APR-2017 SEP-2017 FY 2017 FY 2018 OPERATING REVENUES Golf Course Green Fees $ 1,045,369 $ 1,020,063 $ 975,027 $ 1,170,000 $ 650,025 $ 335,000 $ 985, ,692 Club Rentals Range Fees 44,824 46,451 40,740 48,000 24,763 14,560 39,323 38,804 Handicaps , Revenue-Employees Total 1,090,358 1,066,599 1,015,912 1,220, , ,630 1,024,488 1,012,621 Pro Shop -3.8% -2.2% -4.8% Golf Ball Sales 19,793 24,736 22,102 22,500 14,291 9,375 23,666 20,795 Glove Sales 5,628 5,793 6,458 6,000 3,503 1,800 5,303 5,576 Headwear Sales 3,842 3,913 3,894 3,900 2,698 1,300 3,998 3,664 Ladies' Wear Sales Men's Wear Sales 930 1,303 1,846 1, ,363 1,470 Miscellaneous Sales 3,761 3,425 2,553 3, ,123 2,402 Total 33,954 39,170 36,853 37,950 22,095 13,358 35,453 33,907 Restaurant 15.4% -5.9% Rents or Royalties 80,964 80,009 78,914 78,000 45,500 32,500 78,000 78,000 Total 80,964 80,009 78,914 78,000 45,500 32,500 78,000 78,000 Other Interest - Investments Sale of Surplus Equipment Other Miscellaneous Revenues Total TOTAL OPERATING REVENUES 1,205,903 1,186,182 1,131,877 1,336, , ,553 1,138,216 1,124,828 Annual Enterprise Fund Budget Fiscal Year

73 Agenda Page 73 Consolidated Enterprise Fund Summary of Revenues, Expenses and Changes in Net Assets Fiscal Year 2018 Proposed Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL ACTUAL BUDGET THRU MAY - PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2014 FY 2015 FY 2016 FY 2017 APR-2017 SEP-2017 FY 2017 FY 2018 COST OF GOODS SOLD COS - Golf Balls 10,799 13,923 12,233 10,200 6,624 4,250 10,874 10,500 COS - Gloves 2,912 4,122 1,845 3,200 2,228 1,335 3,563 3,200 COS - Headwear 1,937 1,967 2,247 1, ,530 1,600 COS - Ladies' Wear COS - Men's Wear COS - Miscellaneous 1,271 1, , ,369 1,500 Total Cost of Goods Sold 17,206 22,041 18,204 18,260 10,925 7,285 18,210 17,675 GROSS PROFIT 1,188,697 1,164,141 1,113,673 1,318, , ,268 1,120,006 1,107,153 OPERATING EXPENSES Golf Course Payroll-Hourly 300, , , , , , , ,500 Payroll - Bonus 8,000-1, Payroll - Incentive FICA Taxes 43,246 41,503 43,477 45,000 27,665 18,750 46,415 45,000 Life and Health Insurance 18,855 23,928 22,660 25,462 13,193 9,645 22,838 23,842 Accounting Services 9,000 9,000 9,000 9,000 5,250 3,750 9,000 9,000 Contracts-Lakes 16,500 16, Contracts-Security Alarms Communication - Telephone 2,110 2,197 2,271 2,252 1, ,292 2,296 Postage and Freight Electricity - General 16,532 13,841 14,654 14,400 8,447 6,000 14,447 16,200 Utility - Refuse Removal 4,264 4,524 4,955 5,290 3,124 2,272 5,396 5,644 Utility - Water & Sewer 6,817 7,018 6,699 6,600 3,115 2,500 5,615 6,600 Rental/Lease - Vehicle/Equip 39,220 39,517 42,240 44,090 31,417 12,673 44,090 44,090 Lease - Ice Machines 1,538 1,400 1,550 1, ,513 1,500 Annual Enterprise Fund Budget Fiscal Year

74 Agenda Page 74 Consolidated Enterprise Fund Summary of Revenues, Expenses and Changes in Net Assets Fiscal Year 2018 Proposed Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL ACTUAL BUDGET THRU MAY - PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2014 FY 2015 FY 2016 FY 2017 APR-2017 SEP-2017 FY 2017 FY 2018 Insurance - Property 15,102 14,210 13,908 15,299 14,542-14,542 15,996 R&M-Buildings 395 5, , , R&M-Equipment 17,643 15,725 15,114 15,900 7,426 6,000 13,426 15,900 R&M-Fertilizer 23,081 27,630 20,181 30,000 10,289 8,500 18,789 30,000 R&M-Irrigation 4,268 5,657 9,514 6,000 1,091 2,500 3,591 6,000 R&M-Golf Course 7,171 7,701 3,966 8,100 1,870 3,375 5,245 8,100 R&M-Pumps 4,066 2,921 2,958 3,648 1,603 1,445 3,048 3,648 Misc-Property Taxes 1, ,500 2,488-2,488 1,500 Misc-Licenses & Permits Op Supplies - General 5,476 4,451 5,274 4,800 2,754 1,750 4,504 4,800 Op Supplies - Uniforms 3, Op Supplies - Fuel, Oil 34,810 21,941 15,444 24,000 7,333 7,000 14,333 18,000 Op Supplies - Chemicals 31,069 30,996 33,487 33,150 18,522 13,500 32,022 33,150 Op Supplies - Hand tools 3, , ,000 1,000 Supplies - Sand 2,086 1,790 2,590 3, ,100 2,752 3,800 Supplies - Top Dressing 1,753 2,372 1,755 1, ,047 1,800 1,800 Supplies - Seeds 4,551-6,640 6,700 3,085 3,615 6,700 6,700 Total Golf Course 627, , , , , , , ,610 Pro Shop Payroll-Hourly 133, , , ,000 89,319 62, , ,000 Payroll - Bonus 8,000-1, FICA Taxes 20,582 20,950 21,089 22,500 13,614 9,500 23,114 22,500 Life and Health Insurance 12,693 8,640 15,057 16,686 9,305 7,075 16,380 17,489 ProfServ-Web Site Development 1, , ,000 Accounting Services 9,000 9,000 9,000 9,000 5,250 3,750 9,000 9,000 Contracts-Janitorial Services 11,586 12,222 5,593 11,700 3,897 2,945 6,842 11,700 Annual Enterprise Fund Budget Fiscal Year

75 Agenda Page 75 Consolidated Enterprise Fund Summary of Revenues, Expenses and Changes in Net Assets Fiscal Year 2018 Proposed Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL ACTUAL BUDGET THRU MAY - PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2014 FY 2015 FY 2016 FY 2017 APR-2017 SEP-2017 FY 2017 FY 2018 Contracts-Security Alarms 2,682 1,378 2,908 2, ,568 2,157 Communication - Telephone 2,745 2,871 3,137 3,138 2,222 1,620 3,842 3,900 Postage and Freight Electricity - General 11,199 11,832 11,748 12,600 5,676 4,250 9,926 12,000 Utility - Refuse Removal Utility - Water & Sewer 2,275 3,396 1,543 1,800 1, ,224 3,240 Lease - Copier Lease - Carts 70,560 70,560 70,560 70,560 41,160 29,400 70,560 70,560 Insurance - Property 8,894 8,368 7,909 8,700 8,269-8,269 9,096 R&M-General 2,181 8,819 8,336 6,000 2, ,369 6,000 R&M-Air Conditioning , R&M-Pest Control 1,148 1,184 2,114 2, ,261 2,148 R&M-Range - 1, Advertising 9,811 10,225 9,568 10,500 6,390 4,000 10,390 10,500 Misc-Bank Charges 25,282 31,573 33,049 27,000 15,686 12,000 27,686 27,000 Misc-Cable TV Expenses 1,319 1,359 1,386 1, ,404 1,455 Misc-Property Taxes 5,798 5,481 5,375 5,500 3,831-3,831 5,500 Misc-Handicap Fees Office Supplies ,465 1, ,200 Computer Expense , , Op Supplies - General Supplies - Scorecards 1, ,352-1, Reserve 10,505 10,505 10,505 10,505 6,128 4,377 10,505 10,505 Total Pro Shop 356, , , , , , , ,021 Annual Enterprise Fund Budget Fiscal Year

76 Agenda Page 76 Consolidated Enterprise Fund Summary of Revenues, Expenses and Changes in Net Assets Fiscal Year 2018 Proposed Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL ACTUAL BUDGET THRU MAY - PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2014 FY 2015 FY 2016 FY 2017 APR-2017 SEP-2017 FY 2017 FY 2018 Restaurant Payroll-Hourly 10,490 10,896 3,432 5,495 3,264 1,632 4,896 4,895 ProfServ-Web Site Development 1, , ,200 Accounting Services 1,200 1,200 1,200 1, ,200 1,200 Contracts-Janitorial Services 1,095 1,327 2,162 2, ,015 1,649 2,440 Contracts-Security Alarms 2, ,972 1, ,883 Communication - Telephone 1,433 1,503 1,937 1,932 1,532 1,125 2,657 1,932 Electricity - General 11,435 10,933 12,384 12,480 5,307 3,250 8,557 12,480 Utility - Refuse Removal 4,185 3,972 4,434 4,567 2,647 1,891 4,538 4,674 Utility - Water & Sewer 2,275 3,396 1,543 3,600 1, ,349 3,600 Lease - Copier , ,200 Lease - Dishwasher Insurance - Property 8,763 8,245 7,793 8,572 8,148-8,148 8,963 R&M-Air Conditioning 2,349 1,402 10, R&M-Buildings 849 9,604 4,772 6,000 2, ,932 2,100 R&M-Pest Control 1,148 1,184 3,083 3, ,371 2,368 3,617 Misc-Property Taxes 1,841 1, , ,000 Misc-Cable Music Office Supplies Computer Expense , ,200 Reserve 24,511 24,511 24,511 24,511 14,298 10,213 24,511 24,511 Total Restaurant 78,066 84,971 85,237 84,438 45,333 25,195 70,528 80,422 Annual Enterprise Fund Budget Fiscal Year

77 Agenda Page 77 Consolidated Enterprise Fund Summary of Revenues, Expenses and Changes in Net Assets Fiscal Year 2018 Proposed Budget ADOPTED ACTUAL PROJECTED TOTAL ANNUAL ACTUAL ACTUAL ACTUAL BUDGET THRU MAY - PROJECTED BUDGET ACCOUNT DESCRIPTION FY 2014 FY 2015 FY 2016 FY 2017 APR-2017 SEP-2017 FY 2017 FY 2018 Debt Service ProfServ-Arbitrage Rebate ProfServ-Dissemination Agent 1,000 1,000 1,000 1,000-1,000 1,000 1,000 ProfServ-Trustee 2,658 3,098 3,098 3,563 3,098-3,098 3,563 Principal Debt Retirement 90, , , , , , ,000 Interest Expense 100,201 92,354 82,796 77,500 38,750 38,363 77,113 67,813 Total Debt Service 194, , , ,363 41, , , ,676 TOTAL OPERATING EXPENSES 1,257,042 1,254,806 1,251,622 1,281, , ,703 1,215,999 1,275,729 Operating income (loss) (68,345) (90,665) (137,949) 37,155 71,442 (167,435) (95,993) (168,576) OTHER FINANCING SOURCES (USES) Funding From GF For Debt Service ,813 TOTAL OTHER SOURCES (USES) ,813 Change in net assets (68,345) (90,665) (137,949) 37,155 71,442 (167,435) (95,993) 24,237 Notes: (1) The principal payments made each year for the Recreational Bond are shown on the balance sheet. The operating income projection shown above is an estimate of the actual projected income earned for the year and is not effected by the principal payment. Annual Enterprise Fund Budget Fiscal Year

78 Agenda Page Debt Service Fund SERIES 1997 RECREATION REVENUE BONDS AMORTIZATION SCHEDULE Outstanding Annual Date Principal Balance Principal Coupon Interest Total DS Debt Service 11/01/17 $875, % $33, $33, /01/18 $875, $125, % $33, $158, $192, /01/18 $750, % $29, $29, /01/19 $750, $130, % $29, $159, $188, /01/19 $620, % $24, $24, /01/20 $620, $140, % $24, $164, $188, /01/20 $480, % $18, $18, /01/21 $480, $150, % $18, $168, $187, /01/21 $330, % $12, $12, /01/22 $330, $165, % $12, $177, $190, /01/22 $165, % $6, $6, /01/23 $165, $165, % $6, $171, $177, $1,000, $326, $1,326, $1,326, Annual Enterprise Fund Budget Fiscal Year

79 Tenth Order of Business Agenda Page 81

80 10A. Agenda Page 82

81 Agenda Page 83