Viera East
Community Development District

Adopted Budget
FY 2019

Viera East Community Development District

Table of Contents

Pages

General Fund	1-­‐2

General Fund Narrative	3-­‐10
Capital Reserve	11
Debt Service	12
Debt Service Fund -­‐  Series 2006 Amortization	13
Golf Course	14-­‐17
Golf Course Narrative	18-­‐28
Recreation Fund Debt Service -­‐Series 2012 Amortization	29

	
Actual	Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Adopted
Budget	
	FY 2017	FY 2018	7/31/18	2 Months	@ 9/30/18	FY 2019	

Revenues							
Maintenance Assessments	$ 808,157	$ 808,157	$	802,110	$	6,047	$	808,157	$	808,157	
Golf Course Administrative Services	$	56,280	$	56,280	$	46,900	$	9,380	$	56,280	$	56,280	
Interest Income	$	-­‐	$	100	$	16	$	-­‐	$	16	$	100	
Miscellaneous Income	$	-­‐	$	-­‐	$	-­‐	$	-­‐	$	-­‐	$	-­‐	
Total Revenues	$ 864,437	$ 864,536	$	849,026	$	15,427	$	864,452	$	864,536	

Administrative Expenditures							
Supervisors Fees	$	31,133	$	30,195	$	23,122	$	5,005	$	28,127	$	30,195	
Engineering Fees	$	4,265	$	5,000	$	3,690	$	450	$	4,140	$	5,000	
Attorney's Fees	$	11,620	$	5,000	$	928	$	25	$	953	$	5,000	
Dissemination	$	1,000	$	1,000	$	833	$	167	$	1,000	$	1,000	
Trustee Fees	$	5,576	$	5,600	$	4,650	$	925	$	5,575	$	5,600	
Annual Audit	$	6,419	$	6,500	$	5,596	$	1,150	$	6,746	$	6,500	
Collection Agent	$	2,500	$	2,500	$	2,083	$	417	$	2,500	$	2,500	
Management Fees	$	97,515	$	97,515	$	81,263	$	16,253	$	97,515	$	100,440	
Postage	$	2,347	$	2,500	$	629	$	90	$	719	$	1,500	
Printing & Binding	$	1,732	$	4,500	$	550	$	419	$	969	$	2,500	
Insurance-­‐ Liability	$	6,278	$	7,293	$	5,646	$	1,129	$	6,775	$	7,293	
Legal Advertising	$	199	$	2,500	$	-­‐	$	250	$	250	$	2,500	
Other Current Charges	$	1,471	$	1,500	$	951	$	227	$	1,177	$	1,500	
Office Supplies	$	3,413	$	3,000	$	1,219	$	279	$	1,498	$	3,000	
Dues & Licenses	$	175 $	175	$	146	$	29	$	175	$	175	
Information Technology	$	3,400	$	3,400	$	2,833	$	567	$	3,400	$	3,400	
Total Administrative	$ 179,043	$ 178,178	$	134,140	$	27,381	$	161,521	$	178,103	

Operating Expenditures							
Salaries	$ 124,761	$ 131,660	$	109,160	$	20,827	$	129,986	$	136,662	
Administration Fee	$	1,363	$	1,199	$	1,204	$	195	$	1,399	$	1,463	
FICA Expense	$	9,255	$	10,072	$	8,172	$	1,357	$	9,529	$	10,455	
Health Insurance	$	6,460	$	7,667	$	6,534	$	1,097	$	7,631	$	8,893	
Workers Compensation	$	2,396	$	2,581	$	2,318	$	338	$	2,656	$	2,679	
Unemployment	$	777	$	853	$	913	$	-­‐	$	913	$	853	
Other Contractual	$	6,364	$	6,500	$	6,129	$	1,051	$	7,180	$	5,000	
Training	$	107	$	500	$	-­‐	$	-­‐	$	-­‐	$	500	
Uniforms	$	705	$	500	$	-­‐	$	-­‐	$	-­‐	$	500	
Total Operating	$ 152,189	$ 161,532	$	134,428	$	24,865	$	159,293	$	167,005	

Maintenance Expenditures							
Canal Maintenance	$	23,564	$	11,000	$	11,329	$	-­‐	$	11,329	$	14,000	
Lake Bank Restoration	$	57,400	$	60,000	$	-­‐	$	55,000	$	55,000	$	60,000	
Environmental Services	$	9,576	$	27,000	$	4,314	$	1,747	$	6,061	$	20,000	
Water Management System	$	96,009	$	99,000	$	80,479	$	16,530	$	97,009	$	99,000	
Control Burns	$	4,892	$	15,000	$	-­‐	$	5,000	$	5,000	$	15,000	
Contingencies	$	8,621	$	9,000	$	970	$	-­‐	$	970	$	9,000	
Fire Line Management	$	3,925	$	5,000	$	2,653	$	300	$	2,953	$	5,000	
Basin Repair	$	2,320	$	4,000	$	455	$	500	$	955	$	4,000	
Total Maintenance	$ 206,307	$ 230,000	$	100,200	$	79,077	$	179,276	$	226,000	

	
Actual	Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Adopted
Budget	
	FY 2017	FY 2018	7/31/18	2 Months	@ 9/30/18	FY 2019	

Grounds Maintenance Expenditures
Salaries	

$ 141,034	

$ 145,559	

$	120,865	

$	23,186	

$	144,051	

$	147,875	
Administrative Fees	$	3,511	$	3,289	$	2,841	$	535	$	3,376	$	3,454	
FICA	$	9,810	$	11,135	$	8,684	$	1,650	$	10,334	$	11,312	
Health Insurance	$	20,685	$	24,205	$	23,081	$	3,529	$	26,610	$	30,559	
Workers Compensation	$	2,602	$	2,853	$	2,711	$	422	$	3,132	$	2,898	
Unemployment	$	1,785	$	2,132	$	1,752	$	39	$	1,791	$	2,120	
Telephone	$	2,876	$	2,000	$	4,160	$	732	$	4,892	$	4,500	
Utilities	$	5,781	$	7,700	$	4,384	$	931	$	5,315	$	7,700	
Property Appraiser	$	1,986	$	1,990	$	1,986	$	-­‐	$	1,986	$	1,990	
Insurance-­‐ Property	$	1,730	$	1,359	$	975	$	195	$	1,170	$	1,447	
Repairs	$	9,344	$	14,000	$	10,955	$	600	$	11,555	$	12,000	
Fuel	$	8,727	$	16,500	$	1,039	$	2,392	$	3,431	$	7,500	
Park Maintenance	$	3,434	$	3,000	$	4,260	$	306	$	4,566	$	3,000	
Sidewalk Repair	$	-­‐	$	5,000	$	5,245	$	-­‐	$	5,245	$	5,000	
Chemicals	$	3,751	$	5,000	$	1,531	$	200	$	1,731	$	5,000	
Contingencies	$	8,078	$	6,000	$	1,867	$	-­‐	$	1,867	$	5,000	
Refuse	$	8,968	$	9,000	$	3,991	$	530	$	4,521	$	8,000	
Office Supplies	$	344	$	1,000	$	233	$	90	$	323	$	750	
Uniforms	$	2,727	$	3,000	$	2,348	$	364	$	2,712	$	3,000	
Fire Alarm System	$	-­‐	$	-­‐	$	-­‐	$	-­‐	$	-­‐	$	4,000	
Rain Bird Pump System	$	-­‐	$	18,500	$	16,046	$	4,596	$	20,642	$	18,500	
Maintenance Reserve-­‐ Transfer Out	$	33,583	$	11,604	$	9,670	$	1,934	$	11,604	$	7,823	
Maintenance Reserve-­‐ Transfer Out (Excess)	$	-­‐	$	-­‐	$	93,507	$	-­‐	$	93,507	$	-­‐	
Total Grounds Expenditures	$ 270,755	$ 294,826	$	228,625	$	42,230	$	364,362	$	293,428	
							
Total Expenses	$ 808,295	$ 864,536	$	597,393	$ 173,552	$	864,452	$	864,536	
							
Excess Revenue/(Expenditures)	$ 56,142	$	-­‐	$	251,633	$ (158,126)	$	-­‐	$	-­‐	
		
FY 2015	
FY 2016	
FY 2017	
FY 2018	
FY 2019	
Net Assessment		$ 796,203	$	796,203	$ 796,203	$	796,203	$	796,204	
Discounts @ 4%		$	31,848	$	31,848	$	31,848	$	31,848	$	31,848	
Gross Assessment		$ 828,051	$	828,051	$ 828,051	$	828,051	$	828,052	

Assessable Units -­‐ Residential		
$	4,222	
$	4,222	
$	4,222	
$	4,222	
$	4,222	
Assessable Units -­‐ Non-­‐Residential		$	1,869	$	1,869	$	1,869	$	1,869	$	1,869	
Total Units		$	6,091	$	6,091	$	6,091	$	6,091	$	6,091	

Assessment per Unit -­‐ General Fund		
$	136	
$	136	
$	136	
$	136	
$	136	
Assessment per Unit -­‐ Debt Service		$	363	$	414	$	414	$	414	$	414	
Assessment per Unit -­‐ Recreation		$	129	$	129	$	129	$	129	$	130	
		$	628	$	678	$	678	$	678	$	679	

Revenues:

Maintenance Assessments
The District will levy a Non-­‐Ad Valorem Assessment on all the assessable property within the District in order to pay for its operating and maintenance expenditures  incurred  during  the Fiscal Year.

Golf Course Administrative Services
Represents Golf Course Fund portion of salary and benefits for employees paid from the General Fund

Description	Annual
Amount	
Base	$ 75,000	
10% of Maintenance Supervisor	$ (7,280)	
50% of Labor Position	   $ (11,440) 	
Total	   $ 56,280 	

Interest Income
The District will earn interest on balances invested during the year

Administrative Expenditures:

Supervisors Fees
The amount paid to each supervisor for the time devoted to District business and meetings is determined by Chapter 190, Florida Statutes, at $200 per meeting. Amount is based on five supervisors receiving fees for two meetings per month.

Engineering Fees
The District's engineer, Boyer Singleton, will be providing general engineering services to the District, which includes preparation and attendance of monthly board meetings.

Attorney Fees

Legal Counsel:

Shutts and Bowen LLP 300 South Orange Avenue Suite 300
Orlando, FL 32801
Telephone: (407) 835-­‐6759
Fax: (407) 849-­‐7288

The District's legal counsel, Shutts and Bowen, will be providing general services, which include attendance and preparation for monthly board meetings. Also, services include reviewing contracts, agreements, resolutions, rule amendments, etc.

Dissemination
The District is required by the Security and Exchange Commission to comply with Rule 15c2-­‐ 12(b)(5), which relates to additional reporting requirements for un-­‐rated bond issues.
o	Series 2006 Water Management	$1,000 Trustee Fees
The District will pay annual trustee fees for Water Management Refunding Bonds, Series 2006.

Annual Audit
The District is required to annually have its financial records audited by an independent Certified Public Accounting Firm. The estimated cost of the audit is based on the prior fiscal year and will be shared with the Recreational Fund.

Collection Agent
Fees  incurred  by  GMS-­‐Central  Florida,  LLC  for  calculating,  levying  and  certification  of  the District’s Non-­‐Ad valorem Maintenance Assessments with the Brevard County Tax Collector.

Contractor	Services	Monthly	Annual

GMS$ Central Florida, LLC Assessments

$ 208

$ 2,500

Management Fees
The   District   has   contracted   with   GMS-­‐Central   Florida,   LLC   to   provide   Accounting   and Administrative Services for the District. The services include, but are not limited to, recording and transcription of board meetings, administrative services, budget preparation, financial reporting, annual audits, etc.

Postage
Mailing of Board Meeting agendas, checks for vendors, overnight deliveries and any other required correspondence. Amount is based on prior years cost.

Printing & Binding
Printing and binding agenda packages for board meetings, printing of computerized checks, District Brochures, correspondence, stationary, envelopes etc.

Insurance- ­ ‐ Liability
The District’s general liability, public official’s liability, and automobile insurance coverage is provided by EGIS Insurance and Risk Advisors.

Admin
Description	Amount	Field Amount	Annual Amount	
General Liability	$ 4,178	$	3	$ 4,178	
POL/EPLI	$ 3,115	$	3	$ 3,115	
Auto Physical Damage	$	3	$	3	$	3	
Property	$	3	$ 1,447	$ 1,447	
Total	$ 7,293	$ 1,447	$ 8,740	

Legal Advertising
Advertising of monthly board meetings, public hearings, and any other legal advertising that may be required.

Other Current Charges
Any miscellaneous expenses incurred by the District that were not previously budgeted.

Office Supplies
Any supplies that may need to be purchased during the Fiscal Year, e.g., paper, minute books, file folders, labels, paper clips, etc.

Dues & Licenses
The District is required to pay an annual fee to the Department of Community Affairs for
$175. This is the only anticipated expenditure for this category.

Information Technology
Costs related to District's accounting and information systems, District's website creation and maintenance, electronic compliance with Florida Statutes and other electronic data requirements.

Operating Expenditures:

Salaries & Wages
The District currently has a General Manager and 1 full time employee to handle the operations of the District. The proposed amount includes a 3% cost of living increase for qualifying employees.

Administration Fee
Represents fee to Paychex for administration of pay and benefits. Paychex charges an administration fee of $27.32 per full time employee per pay period and $19.68 per part-­‐time employee per pay period.

FICA
Represents the estimated amount due for Social Security (6.2%) and Medicare (1.45%) based upon the proposed salaries and wages.

Health Insurance
Full time District Employee’s are eligible for the following health benefits.

Provider	Policy Number	Insurance Description	
United Healthcare	591637	Accidental Death, Dental, Vision,	
		Life, and Long Term Disability	
Health First	114619	Health	
Colonial Life	E3682663	Life, Accident, Short Term Disability	
Combined	007394312	Accident and Disability	

Workers Compensation
The District provides Workers Compensation Insurance for each of its employee’s based upon statutory requirements and rates determined by Paychex.

Unemployment
The District pays State and Federal unemployment for each employee based upon current rate structures.

Other Contractual
Miscellaneous fees and contracts incurred for the District.

Description	Annual
Amount	
Great American Financial	$	3,000	
Ecolab Pest Elimination	$	1,450	
Additional Contract Funds	$	550	
Total Annual Budget	$	5,000	
Training
Expense involved in providing training for staff.

Uniforms
Expense involved in providing uniforms for the administration staff.

Maintenance Expenditures:

Canal Maintenance
Represents cost associated with the maintenance of the canals located east and west of I-­‐95. The  canals  east  of  I-­‐95  are  maintained  by  various  contractors  paid  by  the  District  on  an  "as needed”  basis.  The  canals  west  of  I-­‐95  are  maintained  by  A.  Duda  &  Sons  and  billed  to  the District

Lake Bank Restoration
Allocation of funds dedicated for lake bank restoration throughout the District.

Environmental Services
The District will incur the following costs related to maintaining and managing the various conservation areas (wetlands and uplands), which are the responsibility of the District. The amount is based upon the current contract with Kevin L. Erwin, plus an allowance for additional services from other providers that may be required. Services provided under this budget item may include the following:

Wetland Monitoring Reports as required by SJRWMD and USACOE.
Wetland Maintenance, removal of exotic species as required to conform to permit requirements.

Habitat Management, including burns of preserved areas as required within the approved Habitat Management Plan(s).
Permit Compliance and General Services as required.

Water Management System
The District currently has a contract with ECOR Industries, Inc. to provide Aquatic Maintenance Service for the District's Lakes.

Description	Monthly
Amount	Annual
Amount	
Natural Areas Management	$ 3,296	$ 39,551	
Wingate & Auburn Lake Aquatic Weed Control	$	664	$	7,971	
Bayhill Wetland Maintenance (BiHMonthly)	$	200	$	1,200	
Aquatic Weed Control	$ 3,407	$ 40,881	
Header Canal Maintenance (Quarterly)	$ 1,100	$	4,440	
Unanticipated Repairs/Improvements		$	4,957	
Total	$ 8,667	$ 99,000	

Control Burns:
The District anticipates that it will have control burns this year throughout the Scrub Jay Preserve areas. The purpose of the control burns is to enhance the habitat of threatened and  endangered species and to reduce the intensity of natural fires.

Contingencies
Any miscellaneous expenses incurred by the District that were not previously budgeted.

Fire Line Maintenance
Expenses related to the maintenance of the various Fire Lines throughout the District. This mainly includes the mechanical removal of vegetation between homeowners’ property and conservation areas in order to slow or stop the spread of wildfire.

Basin Repair
Expenses related to the repair and maintenance of the drainage structures at District Basins III, IV, and V. The drainage structures that get repaired are the outfalls (connect lakes) and the floways (connect lakes to St Johns River).

Grounds Maintenance Expenditures:

Salaries & Wages
The District currently has a 4 full time and 1 part time employee’s to handle the grounds maintenance of the District. The proposed amount includes a 3% cost of living increase for qualifying employees.

Administration Fee
Represents fee to Paychex for administration of pay and benefits. Paychex charges an administration fee of $27.32 per full time employee per pay period and $19.68 per part-­‐time employee per pay period.

FICA
Represents the estimated amount due for Social Security (6.2%) and Medicare (1.45%) based upon the proposed salaries and wages.

Health Insurance
Full time District Employee’s are eligible for the following health benefits.

Provider	Policy Number	Insurance Description	
United Healthcare	591637	Accidental Death, Dental, Vision,	
		Life, and Long Term Disability	
Health First	114619	Health	
Colonial Life	E3682663	Life, Accident, Short Term Disability	
Combined	007394312	Accident and Disability	

Workers Compensation
The District provides Workers Compensation Insurance for each of its employee’s based upon statutory requirements and rates determined by Paychex.

Unemployment
The District pays State and Federal unemployment for each employee based upon current rate structures.

Telephone
Expenses incurred for the telephone and fax machine.

Monthly	Annual
Vendor	Amount	Amount	
Brighthouse	$	366	$	4,393	
Contingency		   $	107 	
Total		   $ 4,500 	

Utilities
The District has the following utility account with Florida Power and Light to provide electricity for the maintenance building.

Monthly		Annual Amount	Amount

Account

Vendor

FPL	83490)45156	$
Contingency
Total

500

$	6,000
$	1,700

$	7,700

Property Appraiser
Fees incurred for the Brevard County Property Appraiser performing work in support of processing and distributing non-­‐ad valorem assessment information. The cost for the FY2019 year will be $1,990.

Insurance- ­ ‐ Property
Represents the amount paid for the property portion of the insurance premium with EGIS Insurance and Risk Advisors. The property includes vehicles, equipment, etc.

Admin
Description	Amount	Field Amount	Annual Amount	
General Liability	$	4,178	$	3	$	4,178	
POL/EPLI	$	3,115	$	3	$	3,115	
Auto Physical Damage	$	3	$	3	$	3	
Property	$	3	$ 1,447	$	1,447	
Total	$ 7,293	$ 1,447	$ 8,740	

Repairs
Any costs related to miscellaneous repairs and maintenance that occur during the fiscal year.

Fuel
Costs related to fuel purchased for grounds maintenance machinery that occur during the fiscal year.

Park Maintenance
Represents cost associated with the maintenance of the parks and trails located within the district.

Sidewalk Repair
Represents cost associated with the repair of the sidewalks located within the district.

Chemicals
Includes fungicide applications, herbicide applications, insecticide applications needed to maintain the grounds.

Contingencies
Represents any miscellaneous expenses incurred by the District that were not previously budgeted.

Refuse
Estimated costs for refuse services to empty dumpster(s) twice monthly by Danny’s Recycling & HAU is:
Contractor	Services	Monthly	Annual	
Danny's Recycling & HAU	Empty Dumpster	$ 645	$	7,740	
Contingency			$	260	
Total			$ 8,000	

Office Supplies
Costs for items used in office

Uniforms
The District is in contract with Unifirst to supply uniforms for the Maintenance staff. Unifirst comes to the District weekly to deliver clean uniforms to the staff.

Vendor	Monthly
Amount	Annual
Amount	
Unifirst	$	219	$ 2,624	
Contingency		$	376	
Total		$ 3,000	

Fire and Burglary Alarm System
The District is in contract with ADT to provide monthly fire and burglary alarm system monitoring and maintenance. The services will be split between the Golf Course and Operations.

Description	Monthly
Amount	Annual
Amount	
System Monitoring	$	98	$	1,176	
Equipment Lease	$	233	$	2,797	
Contingency		$	27	
Total Annual Budget		$	4,000	

Rain Bird Pump System
The District will be financing a new pump system for irrigation through Rain Bird.

Monthly	Annual
Vendor	Amount	Amount	
Rain Bird	$ 1,520	$18,240	
Contingency		   $ 260 	
Total Annual Budget		   $18,500 	

Maintenance Reserves – Transfer Out
Funds allocated annually to insure available cash for ongoing operations of the District and for major repair or replacement of capital items.

Maintenance Reserves – Transfer Out (PY Excess)
Represents projected excess funds above operating capital requirements in the General Fund.

Community Development District
Capital Reserve Fund Adopted Budget Fiscal Year 2019

	Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Adopted
Budget	
	FY 2018	7/31/18	2 Months	@ 9/30/18	FY 2019	

Revenues						
Beginning Fund Balance	$336,203	$225,229	$0	$225,229	$283,792	
Interest Income	$250	$2,692	$500	$3,192	$250	
Reserve Funding -­‐ Transfer In (General)	$11,604	$9,670	$1,934	$11,604	$7,823	
Reserve Funding -­‐ Transfer In (Golf)	$30,899	$29,604	$6,000	$35,604	$20,468	
Reserve Funding -­‐ Transfer In (General Excess)	$0	$0	$93,507	$93,507	$0	
Total Revenues	$378,956	$267,196	$101,941	$369,137	$312,332	

Expenditures						
Capital Outlay	$125,000	$75,346	$10,000	$85,346	$100,000	
Truck Maintenance	$0	$0	$0	$0	$25,000	
Transfer Out	$0	$0	$0	$0	$0	
Total Expenditures	$125,000	$75,346	$10,000	$85,346	$125,000	
						
Excess Revenues (Expenditures)	$253,956	$191,850	$91,941	$283,792	$187,332	

Community Development District
Debt Service Fund Series 2006
Adopted Budget FY2019

	Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Adopted
Budget	
	FY 2018	7/31/18	2 Months	@ 9/30/18	FY 2019	
Revenues						
Special Assessments	$	2,423,170	$	2,405,038	$	18,132	$	2,423,170	$ 2,423,170	
Interest Income	$	100	$	2,034	$	250	$	2,284	$	100	
Beginning Fund Balance	$	497,413	$	483,815	$	-­‐	$	483,815	$	469,059	
Total Revenues	$	2,920,683	$	2,890,888	$	18,382	$	2,909,269	$ 2,892,329	
Expenditures						
Series 2006 Interest-­‐11/1	
$	291,669	
$	291,669	
$	-­‐	
$	291,669	
$	239,631	
Interest-­‐5/1	$	291,669	$	291,669	$	-­‐	$	291,669	$	239,631	
Principal-­‐5/1	$	1,810,000	$	1,810,000	$	-­‐	$	1,810,000	$ 1,910,000	
Other Debt Service Costs	$	46,873	$	-­‐	$	46,873	$	46,873	$	46,873	
Total Expenditures	$	2,440,211	$	2,393,338	$	46,873	$	2,440,211	$ 2,436,135	
						
Excess Revenues
(Expenditures)	$	480,472	$	497,550	$	(28,491)	$	469,059	$	456,194	

* Excess Revenues needed to pay the 11/1/19 Interest Payment	$	184,719

	FY 2016	FY 2017	FY 2018	FY 2019	
Net Assessments	$	2,423,170	$   2,423,170	$	2,423,170	$ 2,423,170	
Discounts	  $	96,927	$	96,927	$	96,927	$	96,927 	
Gross Assessment	  $	2,520,097	$   2,520,097	$	2,520,097	$ 2,520,097 	

Gross Assessments	
$	2,520,097	$   2,520,097	$	2,520,097	$ 2,520,097	
Assessable Units	  $	6,091	$	6,091	$	6,091	$	6,091 	
Per Unit Assessments	  $	414	$	414	$	414	$	414 	

Viera East
Community Development District
Debt Service Fund -­‐ Series 2006 Amortization Schedule

Date	Series 2006
Principal	
Interest	Fiscal
Total	
	
11/1/16		$340,831	$340,831	
5/1/17	$1,710,000	$340,831		
11/1/17		$291,669	$2,342,500	
5/1/18	$1,810,000	$291,669		
11/1/18		$239,631	$2,341,300	
5/1/19	$1,910,000	$239,631		
11/1/19		$184,719	$2,334,350	
5/1/20	$2,020,000	$184,719		
11/1/20		$126,644	$2,331,363	
5/1/21	$2,140,000	$126,644		
11/1/21		$65,119	$2,331,763	
5/1/22	$2,265,000	$65,119	$2,330,119	
	
	$11,855,000	$2,497,225	$14,352,225	

	
Actual	Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Adopted
Budget	
	FY 2017	FY 2018	7/31/18	2 Months	@ 9/30/18	FY 2019	

Number of Rounds
Paid Rounds	

37,601	

34,000	

34,405	

4,676	

39,081	

37,250	
Member Rounds	8,416	10,000	6,159	784	6,943	10,000	
Comp Rounds	6,961	6,000	5,488	733	6,221	6,000	
Total Memberships	63	60	47	13	60	60	
Revenue per Round
Public	
$	31	
$	35	
$	33	
$	25	
$	32	
$	35	
Revenues							
Greens Fees	$ 1,175,024	$ 1,296,290	$ 1,134,628	$	117,312	$ 1,251,940	$ 1,308,290	
Gift Cards-­‐ Sales	$	10,317	$	25,000	$	11,322	$	1,050	$	12,372	$	25,000	
Gift Cards-­‐ Usage	$	(23,633)	$	(25,000)	$	(16,580)	$	(2,501)	$	(19,081)	$	(25,000)	
Season Advance/Trail Fees	$	209,722	$	210,000	$	157,855	$	28,000	$	185,855	$	210,000	
Associate Memberships	$	26,890	$	42,000	$	34,088	$	3,002	$	37,090	$	42,000	
Driving Range	$	70,712	$	72,000	$	65,605	$	7,818	$	73,423	$	80,000	
Golf Lessons	$	2,145	$	2,100	$	1,750	$	350	$	2,100	$	2,100	
Merchandise Sales	$	118,368	$	115,000	$	111,522	$	14,000	$	125,522	$	115,000	
Restaurant	$	10,201	$	10,000	$	20,173	$	2,000	$	22,173	$	20,000	
Assessments -­‐Recreation Operating	$	22,527	$	22,527	$	18,773	$	3,755	$	22,527	$	22,527	
Miscellaneous Income	$	9,126	$	15,000	$	14,054	$	768	$	14,822	$	15,000	
Total Revenues	$ 1,631,399	$ 1,784,917	$ 1,553,190	$ 175,554	$ 1,728,744	$ 1,814,917	

General Expenditures							
Other Contractual Services	$	15,102	$	18,000	$	9,702	$	2,948	$	12,650	$	15,000	
Telephone	$	7,938	$	9,308	$	4,133	$	497	$	4,630	$	5,500	
Postage	$	421	$	450	$	1,695	$	250	$	1,945	$	450	
Printing & Binding	$	668	$	1,000	$	2,324	$	-­‐	$	2,324	$	1,000	
Utilities	$	5,876	$	5,000	$	4,090	$	649	$	4,740	$	5,000	
Repairs & Maintenance	$	9,096	$	7,000	$	6,640	$	250	$	6,890	$	7,000	
Advertising	$	38,349	$	45,000	$	41,247	$	5,918	$	47,165	$	45,000	
Bank Charges	$	31,886	$	30,500	$	28,823	$	3,640	$	32,462	$	30,500	
Office Supplies	$	1,278	$	1,500	$	2,384	$	395	$	2,779	$	1,500	
Operating Supplies	$	8,185	$	9,500	$	2,619	$	500	$	3,119	$	8,500	
Dues, Licenses & Subscriptions	$	3,496	$	2,000	$	7,538	$	500	$	8,038	$	2,500	
Drug Testing-­‐ All departments	$	535	$	500	$	448	$	46	$	494	$	200	
Training, Education & Employee Relations	$	1,887	$	2,500	$	4,451	$	45	$	4,496	$	2,500	
Contractual Security	$	6,683	$	5,000	$	2,191	$	240	$	2,431	$	5,000	
IT Services	$	5,445	$	3,000	$	2,461	$	255	$	2,716	$	3,000	
Total Golf Course Expenditures	$ 136,846	$	140,258	$ 120,745	$	16,132	$	136,877	$	132,650	

	
Actual	Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Adopted
Budget	
	FY 2017	FY 2018	7/31/18	2 Months	@ 9/30/18	FY 2019	

Restaurant Expenditures							
Utilities	$	9,180	$	9,000	$	7,974	$	1,628	$	9,602	$	9,680	
Pest Control	$	1,038	$	1,800	$	128	$	-­‐	$	128	$	1,800	
Equipment Lease	$	1,146	$	1,100	$	814	$	181	$	995	$	1,100	
Total Restaurant Expenditures	$	11,364	$	11,900	$	8,916	$	1,810	$	10,726	$	12,580	

Golf Operations:							
Salaries	$	173,443	$	222,204	$	167,515	$	33,048	$	200,563	$	233,200	
Administrative Fee	$	12,810	$	12,858	$	13,194	$	2,594	$	15,788	$	16,543	
FICA Expense	$	13,223	$	17,253	$	12,826	$	2,532	$	15,357	$	18,280	
Health Insurance	$	1,107	$	461	$	356	$	76	$	432	$	506	
Workers Compensation	$	4,985	$	4,420	$	3,758	$	689	$	4,447	$	4,684	
Unemployment	$	5,210	$	9,322	$	6,908	$	1,406	$	8,314	$	10,726	
Golf Printing	$	407	$	500	$	-­‐	$	-­‐	$	-­‐	$	500	
Utilities	$	19,718	$	20,500	$	17,561	$	3,400	$	20,961	$	20,500	
Repairs	$	-­‐	$	250	$	161	$	-­‐	$	161	$	250	
Pest Control	$	1,038	$	1,800	$	128	$	-­‐	$	128	$	1,800	
Supplies	$	1,045	$	3,000	$	8,035	$	-­‐	$	8,035	$	3,000	
Uniforms	$	142	$	1,500	$	1,706	$	-­‐	$	1,706	$	1,500	
Training, Education & Employee Relations	$	-­‐	$	2,000	$	-­‐	$	-­‐	$	-­‐	$	2,000	
Fuel	$	205	$	500	$	-­‐	$	-­‐	$	-­‐	$	500	
Cart Lease	$	45,219	$	42,636	$	36,368	$	7,571	$	43,940	$	46,500	
Cart Maintenance	$	4,786	$	4,000	$	5,708	$	-­‐	$	5,708	$	4,000	
Driving Range	$	7,054	$	10,000	$	6,042	$	-­‐	$	6,042	$	10,000	
Total Golf Operation Expenditures	$ 290,391	$	353,204	$ 280,266	$	51,316	$	331,582	$	374,489	

Merchandise Sales:							
Cost of Goods Sold	$	86,009	$	77,000	$	73,746	$	7,201	$	80,947	$	77,000	
Total Merchandise Sales	$	86,009	$	77,000	$	73,746	$	7,201	$	80,947	$	77,000	

Golf Course Maintenance:
Salaries	

$	375,307	

$	417,502	

$	321,231	

$	57,716	

$	378,947	

$	400,000	
Administrative Fees	$	8,914	$	8,698	$	7,666	$	1,380	$	9,046	$	12,000	
FICA Expense	$	26,727	$	32,727	$	23,518	$	4,292	$	27,810	$	30,600	
Employee Insurance	$	48,645	$	58,955	$	34,654	$	6,833	$	41,487	$	52,157	
Workers Compensation	$	7,063	$	8,384	$	7,195	$	1,188	$	8,382	$	7,840	
Unemployment	$	6,257	$	6,617	$	5,994	$	149	$	6,143	$	7,000	
Drug Testing	$	45	$	420	$	-­‐	$	45	$	45	$	420	
Consulting Fees	$	6,000	$	6,000	$	5,000	$	1,000	$	6,000	$	6,000	
Fire Alarm System	$	-­‐	$	-­‐	$	-­‐	$	-­‐	$	-­‐	$	4,000	
Telephone/Internet	$	2,078	$	2,500	$	-­‐	$	-­‐	$	-­‐	$	2,500	
Utilities/Water	$	26,558	$	25,700	$	20,785	$	4,344	$	25,128	$	26,200	

	
Actual	Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Adopted
Budget	
	FY 2017	FY 2018	7/31/18	2 Months	@ 9/30/18	FY 2019	

Repairs	
$	48,598	
$	42,000	
$	36,224	
$	6,469	
$	42,693	
$	42,000	
Fuel & Oil	$	41,068	$	35,000	$	43,224	$	10,776	$	54,000	$	45,000	
Pest Control	$	2,081	$	1,500	$	2,576	$	494	$	3,070	$	1,500	
Irrigation/Drainage	$	23,209	$	34,000	$	18,415	$	3,423	$	21,838	$	34,000	
Sand and Topsoil	$	14,452	$	17,500	$	15,933	$	4,533	$	20,466	$	17,500	
Flower/Mulch	$	1,491	$	7,000	$	6,657	$	-­‐	$	6,657	$	7,000	
Fertilizer	$	127,144	$	120,000	$	107,335	$	21,321	$	128,656	$	130,000	
Seed/Sod	$	7,899	$	14,000	$	12,632	$	-­‐	$	12,632	$	14,000	
Trash Removal	$	1,455	$	2,000	$	1,353	$	264	$	1,618	$	2,000	
Contingency	$	4,558	$	6,000	$	13,198	$	500	$	13,698	$	6,000	
First Aid	$	655	$	600	$	915	$	119	$	1,035	$	600	
Office Supplies	$	219	$	500	$	1,311	$	74	$	1,385	$	500	
Operating Supplies	$	18,934	$	18,000	$	15,054	$	1,378	$	16,432	$	18,000	
Training	$	2,527	$	500	$	2,876	$	352	$	3,228	$	500	
Janitorial Supplies	$	1,998	$	800	$	1,294	$	72	$	1,366	$	1,500	
Soil & Water Testing	$	689	$	1,000	$	987	$	-­‐	$	987	$	1,000	
Uniforms	$	9,790	$	10,500	$	5,593	$	1,273	$	6,866	$	10,500	
Equipment Rental	$	2,473	$	4,000	$	644	$	-­‐	$	644	$	2,500	
Equipment Lease	$	90,693	$	148,000	$	118,878	$	26,631	$	145,508	$	160,000	
Small Tools	$	-­‐	$	500	$	-­‐	$	-­‐	$	-­‐	$	500	
Total Golf Course Maintenance	$ 907,526	$ 1,030,903	$ 831,142	$ 154,625	$	985,767	$ 1,043,317	

Administrative Expenditures:							
Legal Fees	$	-­‐	$	1,500	$	-­‐	$	-­‐	$	-­‐	$	1,500	
Arbitrage	$	600	$	600	$	450	$	-­‐	$	450	$	600	
Dissemination	$	1,000	$	1,000	$	833	$	167	$	1,000	$	1,000	
Trustee Fees	$	3,717	$	3,750	$	3,103	$	625	$	3,728	$	3,750	
Annual Audit	$	1,481	$	1,500	$	1,250	$	250	$	1,500	$	1,500	
Golf Course Administrative Services	$	56,280	$	56,280	$	46,900	$	9,380	$	56,280	$	56,280	
Insurance	$	64,123	$	71,000	$	62,298	$	11,266	$	73,564	$	75,000	
Property Taxes	$	10,438	$	6,000	$	6,323	$	1,008	$	7,331	$	7,500	
Total Administrative Expenditures	$ 137,640	$	141,630	$ 121,157	$	22,696	$	143,853	$	147,130	

Reserves:							
Renewal & Replacement	$	33,545	$	30,899	$	30,424	$	6,000	$	36,424	$	20,468	
Operating Reserves	$	-­‐	$	-­‐	$	-­‐	$	-­‐	$	-­‐	$	-­‐	
Total Reserves	$	33,545	$	30,899	$	30,424	$	6,000	$	36,424	$	20,468	
							
Total Revenues	$ 1,631,399	$ 1,784,917	$ 1,553,190	$ 175,554	$ 1,728,744	$ 1,814,917	
							
Total Expenditures	$ 1,603,320	$ 1,785,795	$ 1,466,396	$ 259,780	$ 1,726,176	$ 1,807,635	
							
Operating Income (Loss)	$	28,079	$	(878)	$	86,794	$ (84,226)	$	2,568	$	7,283	

	
Actual	Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Adopted
Budget	
	FY 2017	FY 2018	7/31/18	2 Months	@ 9/30/18	FY 2019	

Non Operating Revenues/(Expenditures):
Assessments -­‐Recreation Debt Service	

$	567,205	

$	558,355	

$	465,296	

$	93,059	

$	558,355	

$	558,355	
Interest Income	$	554	$	1,000	$	642	$	94	$	736	$	1,000	
Transfer In	$	50,000	$	-­‐	$	-­‐	$	-­‐	$	-­‐	$	-­‐	
Interest Expense	$ (191,249)	$	(178,478)	$ (148,732)	$	(29,746)	$	(178,478)	$	(171,638)	
Principal Expense	$ (365,000)	$	(380,000)	$ (316,667)	$	(63,333)	$	(380,000)	$	(395,000)	
Total Non Operating Revenues/(Expenditures)	$	61,510	$	878	$	539	$	74	$	613	$	(7,283)	
							
Net Non Operating Income / (Loss)	$	89,588	$	-­‐	$	87,333	$ (84,153)	$	3,180	$	-­‐	

Revenues:

Greens Fees
Estimated revenue for public paid rounds of golf.

Gift Card- ­ ‐ Sales
Estimated amount of gift cards sold that can be used for discounted rounds of golf, merchandise or restaurant purchases. The full amount of the sale is recorded as revenue at the time of purchase.

Gift Card- ­ ‐ Usage
Estimated usage of gift cards once purchased. Once the gift cards have been used at the District,	the	amount	used	is	recorded	against	the	revenue.

Season Advance/Trail Fees
Estimated revenue of customers who purchase memberships to the District golf course in advance for the year.

Associate Memberships
Estimated costs of all associate memberships sold. The associate membership costs $79 and lasts for one year. The membership gets the member a 20% discount on golf rounds and other discounts on range balls, apparel, and USGA handicap service.

Driving Range
Estimated revenue from the District’s driving range.

Golf Lessons
Estimated revenue from golfing lessons given at the golf course. The District leases the golf instruction program to the Mike Hogan Golf Academy.

Merchandise Sales
Estimated revenue of clothing, equipment, and supplies sold in the District’s Pro Shop.

Restaurant
The District’s restaurant is leased to Divots Grille, LLC per an agreement with the District and Divots Grille, LLC. The agreement states that Divots Grille, LLC will pay the District six (6%) of gross sales not excluding sales tax through the lease term ending on September 30, 2019.

Annual Amount

Description

Rental Income	$
Other Restaurant Revenue	$

12,000
8,000

Total	 $	20,000 

Assessments- ­ ‐ Recreation Operations
The District will levy Non-­‐Ad  Valorem  assessments in  all the  assessable  property within  the District to help fund all of the General Operating Expenditures for the fiscal year.

Miscellaneous Income
Estimated annual revenue for various miscellaneous charges billed and collected by the District.

General Expenditures:

Other Contractual Services
Contractual Services include the following contracts:

Monthly	Annual
Vendor	Amount	Amount	
Brighthouse (Cable & Internet)	$	350	$ 4,200	
Waste Management (Dumpster Removal)	$	338	$ 4,057	
Great America Financial	$	93	$ 1,117	
American Safety and First Aide		$	500	
Crystal High Rise, Inc		$	250	
Slug A Bug (Termite Renewal)		$	325	
Contingency		$ 4,551	
Total Annual Budget		$ 15,000	

Telephone
Represents regular telephone lines, credit card, and Internet access. A portion of expenses related to the District are transferred to General Fund.

Monthly	Annual
Vendor	Amount	Amount	
Greybar Financial Services	$	289	$	3,469	
Cricket	$	104	$	1,248	
Contengincy		$	783	
Total		$	5,500	

Postage
Mailing payroll checks, checks for vendors, overnight deliveries and any other required correspondence that is directly related to the golf course. A portion of expenses related to the District are transferred to General Fund.

Printing & Binding
Printing of computerized checks, brochures, correspondence, promotional cards, stationary, rack cards, envelopes, etc. A portion of expenses related to the District are transferred to General Fund.

Utilities
The District has the following utility accounts related to the operations:

Vendor	Account	Monthly
Amount	Annual
Amount	
FPL	10579-42334	$	175	$	2,100	
FPL	91273-57086	$	25	$	300	
City of Cocoa	313093-70192	$	115	$	1,380	
City of Cocoa	150351-141774	$	70	$	840	
Contingency			   $	380 	
Total			   $	5,000 	

Repairs & Maintenance
Any miscellaneous repairs and maintenance, including electrical, plumbing, hardware, locksmiths, painting and HVAC. A portion of expenses related to the District are transferred to General Fund.

Advertising
Represents advertising for the golf course in the Yellow Pages, newspapers, periodicals, brochures and magazines, rack cards and holders, and promotional organizations. A portion of expenses related to the District are transferred to General Fund.

Bank Charges
Bank charges related to credit card usage, as well as account service charges for the operating checking account fund

Office Supplies
Any office supplies that may need to be purchased during the fiscal year, i.e., paper, minute books, file folders, labels, paper clips, etc.

Operating Supplies
Represents various operating supplies purchased

Dues, Licenses & Subscriptions
The following represents the estimated cost for license, membership subscriptions and permit renewals for the fiscal year:

Vendor	
Description	Annual
Amount	
City of Rockledge	Business License	$	200	
Florida State Golf Association	Membership	$	150	
Brevard County	Business Tax License	$	82	
Cocoa Beach Regional Chapter	Membership	$	535	
US Golf Association	Membership	$	110	
Amazon Prime	Membership	$	132	
GCSAA	Gold Membership	$	435	
Contingency		$	856	
Total		$ 2,500	

Training, Education & Employee Relations
Costs incurred in sending District personnel to any training seminars or having personnel trained on site for different aspects to more efficiently and effectively operate the golf course. Also, any expense incurred for staff meetings and help wanted ads.

Contractual Security
Security system costs for the maintenance and clubhouse alarm systems.

IT Services
Costs related to District's accounting and information systems, District's website creation and maintenance, electronic compliance with Florida Statutes and other electronic data requirements.

Restaurant Expenditures:

Utilities
Estimated costs for the basic utilities for the restaurant:

Annual Amount

Monthly Amount

Account

Vendor

FPL	03449(33189	$
City of Cocoa	150351(112664   $

615
150

$	7,380
$	1,800

Contingency
Total

$	500

$    9,680

Pest Control
The estimated costs for Ecolab Pest Elimination to provide monthly pest control services.

Monthly	Annual
Vendor	Amount	Amount	
Ecolab Pest Elimination	$	146	$	1,750	
Contingency		   $	50 	
Total		   $	1,800 	

Equipment Lease
The expense related to leasing of a dishwasher in the restaurant.

Monthly	Annual
Vendor	Amount	Amount	
Ecolab	$	88	$	1,054	
Contingency		   $	46 	
Total		   $	1,100 	

Golf Operations Expenditures:

Salaries & Wages
The District currently has a 1 full time and 30 part time employees to handle the Golf operations of the District. The proposed amount includes a 3% cost of living increase for qualifying employees.

Administration Fee
Represents fee to Paychex for administration of pay and benefits. Paychex charges an administration  fee  of  $27.32  per  full  time  employee  per  pay  period  and  $19.68  per  part-­‐time employee per pay period.

FICA
Represents the estimated amount due for Social Security (6.2%) and Medicare (1.45%) based upon the proposed salaries and wages.

Health Insurance
Full time District Employee’s are eligible for the following health benefits.

Provider	Policy Number	Insurance Description	
United Healthcare	591637	Accidental Death, Dental, Vision,	
		Life, and Long Term Disability	
Health First	114619	Health	
Colonial Life	E3682663	Life, Accident, Short Term Disability	
Combined	007394312	Accident and Disability	

Workers Compensation
The District provides Workers Compensation Insurance for each of its employee’s based upon statutory requirements and rates determined by Paychex.

Unemployment
The District pays State and Federal unemployment for each employee based upon current rate structures.

Golf Printing
Printing for materials needed for the course.

Utilities
Estimated cost of basic utilities for Golf operations:		

Vendor	Account	Monthly
Amount	Annual
Amount	
FPL	03449(33189	$	585	$	7,020	
FPL	07938(52104	$	925	$ 11,100	
City of Cocoa	150351(112664	$	100	$	1,200	
Contingency		$	1,180	
Total		$ 20,500	
Repairs
Any costs related to miscellaneous repairs and maintenance that occur during the fiscal year.

Pest Control
The estimated costs for Ecolab Pest Elimination to provide monthly pest control services.

Monthly	Annual
Vendor	Amount	Amount	
Ecolab Pest Elimination	$	146	$	1,750	
Contingency		   $	50 	
Total		   $	1,800 	

Supplies
Estimated costs of miscellaneous supplies that the District may need to purchase for golf operations.

Uniforms
The estimated costs of uniforms for pro shop personnel. Once hired, all employees get a District golf shirt to wear during work hours.

Training, Education & Employee Relations
The District will incur the cost of the Assistant Pro Program and any training deemed necessary for the Pro Shop staff or cart facility personnel, for example, cart mechanics training and any help wanted ads.

Fuel
Costs for gasoline for all golf carts from Glover Oil Company.

Cart Lease
The expense related to leasing of carts for golf course.

Monthly	Annual
Vendor	Amount	Amount	
TCF Equipment Finance	$ 2,144	$ 25,733	
TCF Equipment Finance	$	242	$	2,909	
Marlin Business Bank	$	236	$	2,829	
GPS System	$	936	$ 11,232	
Yamaha Lease	$	130	$	1,560	
Golf Cart	$	97	$	1,164	
Contingency		$	1,072	
Total		$ 46,500	

Cart Maintenance
The expense related to any repairs and maintenance of the golf carts that are incurred during the year.

Driving Range Supplies
Any expenses incurred related to the driving range operation, for example range balls, tokens, buckets, bag stands, clock rope and sand/water buckets.

Merchandise Sales

Cost of Goods Sold
Represents cost of clothing, equipment, and supplies sold in the Pro Shop.

Golf Course Maintenance:

Salaries & Wages
The  District  currently  has  10  full-­‐time  and  4  part-­‐time  employee’s  to  handle  the  golf  course maintenance. The proposed amount includes a 3% cost of living increase for qualifying employees.

Administration Fee
Represents fee to Paychex for administration of pay and benefits. Paychex charges an administration  fee  of  $27.32  per  full  time  employee  per  pay  period  and  $19.68    per  part-­‐time employee per pay period.

FICA
Represents the estimated amount due for Social Security (6.2%) and Medicare (1.45%) based upon the proposed salaries and wages.

Health Insurance
Full time District Employee’s are eligible for the following health benefits.

Provider	Policy Number	Insurance Description	
United Healthcare	591637	Accidental Death, Dental, Vision,	
		Life, and Long Term Disability	
Health First	114619	Health	
Colonial Life	E3682663	Life, Accident, Short Term Disability	
Combined	007394312	Accident and Disability	

Workers Compensation
The District provides Workers Compensation Insurance for each of its employee’s based upon statutory requirements and rates determined by Paychex.

Unemployment
The District pays State and Federal unemployment for each employee based upon current rate structures.

Drug Testing
Estimated costs for drug testing upon hiring. When personnel are hired at the District, they must complete a drug test. The cost is $38 per screening.

Consulting Fees
The District is contracted with Thomas Trammell to give consulting advise on the golf course. Mr. Trammell goes to the District once a month to give the staff a detailed report on the golf course and suggests ways to improve it.

Annual Amount

Monthly Amount

Vendor

Thomas Trammell

$	500

$ 6,000

Fire and Burglary Alarm System
The District is in contract with ADT to provide monthly fire and burglary alarm system monitoring and maintenance. The services will be split between the Golf Course and Operations.

Description	Monthly
Amount	Annual
Amount	
System Monitoring	$	98	$	1,176	
Equipment Lease	$	233	$	2,797	
Contingency		$	27	
Total Annual Budget		$	4,000	

Telephone/Cell Phone
Estimated costs for internet and phone services for maintenance staff.

Utilities/Water
Estimated costs of basic utilities for the maintenance staff:

Vendor	
Account	Monthly
Amount	Annual
Amount	
FPL	83490)45156	$	1,750	$ 21,000	
City of Cocoa	313093)70192	$	350	$	4,200	
Contingency			$	1,000	
Total			$ 26,200	

Fuel & Oil
Costs related to fuel purchased for maintenance machinery that occur during the fiscal year.

Pest Control
The estimated costs for Ecolab Pest Elimination to provide monthly pest control services.

Monthly	Annual
Vendor	Amount	Amount	
Ecolab Pest Elimination	$	118	$	1,416	
Contingency		   $	84 	
Total		   $	1,500 	

Irrigation/Drainage
Estimated irrigation and drainage maintenance expenditures that may occur during the fiscal year.

Sand/Topsoil
Cost related to sand and topsoil expenditures that may occur during the fiscal year. The District buys all supplies from  Golf Specialties, Inc. Some supplies may include top-­‐dress sand, divot sand, and shell rock for the golf course.

Flowers/Mulch
Estimated cost of flowers and mulch for the golf course and clubhouse.

Chemicals/Fertilizer
Estimated costs of fertilizer, herbicide, insecticide, fungicide and other chemicals needed for the golf course.

Seed/Sod
Cost of seed and sod expenditures for the golf course that may occur during the fiscal year.

Trash Removal
Estimated costs for trash removal services to empty dumpster(s) once a month by Waste Management at the golf course:

Monthly	Annual
Vendor	Amount	Amount	
Waste Management, Inc.	$	131	$	1,575	
Contingency		$	425	
Total		$ 2,000	

Contingencies
Funding of unanticipated costs.

First Aid
Cost of work gloves, ear plugs, support belts, and other first aid supplies needed during the fiscal year.

Office Supplies
Any office supplies that may need to be purchased during the fiscal year, i.e., paper, minute books, file folders, labels, paper clips, etc.

Operating Supplies
Represents various operating supplies purchased

Training
Training seminars for golf course maintenance staff.

Janitorial Supplies
Costs of janitorial supplies that may occur during the fiscal year.

Soil & Water Testing
Costs for soil and water testing that may occur during the fiscal year.

Uniforms
The District is in contract with Unifirst to supply uniforms for the Golf Course Maintenance staff. Unifirst comes to the District weekly to deliver clean uniforms to the staff.

Vendor	Monthly
Amount	Annual
Amount	
Unifirst	$	839	$	10,067	
Contingency		$	433	
Total		$ 10,500	

Equipment Rental
Rental of larger capital items required for Course Maintenance.

Equipment Lease
The District currently has the following equipment leases for the golf course:

Monthly	Annual
Vendor	Amount	Amount	
DLL Finance LLC	$	5,168	$ 62,013	
TCF Equipment Finance	$	1,066	$ 12,792	
TCF Equipment Finance	$	5,116	$ 61,392	
TCF Equipment Finance	$	510	$	6,124	
TCF Equipment Finance	$	372	$	4,470	
TCF Equipment Finance	$	652	$	7,828	
TCF Equipment Finance	$	431	$	5,168	
Contingency		$	214	
Total		$160,000	

Small Tools
Represents small tools purchased for golf course maintenance.

Administrative Expenditures:

Legal Fees
The District's attorney will be providing general legal services to the District that are directly related to operations of the golf course, i.e., reviewing contracts, agreements, resolutions, rule amendments, etc.

Arbitrage
The District will contract with an Independent certified public accounting firm to annually calculate the District's Arbitrage Rebate Liability on Special Assessments Revenue Bonds.

Dissemination
The District is required by the Security and Exchange Commission to comply with Rule 15c212(b)(5), which relates to additional reporting requirements for un-­‐rated bond issues.

Trustee Fees
The District issued Special Revenue Assessment Refunding Bonds, Series 2012 bonds that are deposited with a Trustee at U.S Bank.

Annual Audit
The District is required to annually have its financial records audited by an independent Certified Public Accounting Firm.

Golf Course Administrative Services
Cost of Administrative services provided for the CDD.

Annual Amount

Description

Base
10% of Maintenance Supervisor 50% of Labor Position
Total

$ 75,000
$	(7,280)
$  (11,440)

$ 56,280

Insurance
EGIS Insurance and Risk Advisors provide the District’s general liability, property, and crime insurance coverage. EGIS Insurance and Risk Advisors also provide a three year pollution policy.

Description	Annual
Amount	
General Liability	$	22,218	
Property	$	46,838	
Crime	$	1,122	
Pollution Policy	$	3,917	
Equipment Insurance	$	486	
Contingency	    $	419 	
Total	   $ 75,000 	
Property Taxes
This amount is an estimate of property taxes that will need to be paid throughout this fiscal year.

Reserves

Renewal & Replacement
The golf course transfers 2% of its monthly revenues to the Capital Reserve Fund to help fund for equipment replacement and other capital expenditures estimated for the fiscal year.

Viera East
Community Development District
Recreation Fund Debt Service -­‐ Series 2012 Amortization Schedule

Date	
Bond Balance	
Interest	
Principal	
Interest	Fiscal Year
Total	
						
05/01/17	4,445,000	3.600%	$365,000	$	98,590.00		
11/01/17	4,080,000			$	92,658.75	$	556,248.75	
05/01/18	4,080,000	3.750%	$380,000	$	92,658.75		
11/01/18	3,700,000			$	85,818.75	$	558,477.50	
05/01/19	3,700,000	4.000%	$395,000	$	85,818.75		
11/01/19	3,305,000			$	78,412.50	$	559,231.25	
05/01/20	3,305,000	4.375%	$410,000	$	78,412.50		
11/01/20	2,895,000			$	70,212.50	$	558,625.00	
05/01/21	2,895,000	4.625%	$425,000	$	70,212.50		
11/01/21	2,470,000			$	60,915.63	$	556,128.13	
05/01/22	2,470,000	5.000%	$445,000	$	60,915.63		
11/01/22	2,025,000			$	50,625.00	$	556,540.63	
05/01/23	2,025,000	5.000%	$470,000	$	50,625.00		
11/01/23	1,555,000			$	38,875.00	$	559,500.00	
05/01/24	1,555,000	5.000%	$490,000	$	38,875.00		
11/01/24	1,065,000			$	26,625.00	$	555,500.00	
05/01/25	1,065,000	5.000%	$520,000	$	26,625.00		
11/01/25	545,000			$	13,625.00	$	560,250.00	
05/01/26	545,000	5.000%	$545,000	$	13,625.00	$	558,625.00	
						
			$4,445,000	$	1,134,126.26	$	5,579,126.26	

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