Budget Hearing Proposed FY 2021
August 27, 2020

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Viera East Community Development District Boundaries

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HOA/Sub-Divisions	
Viera East Golf Course District Association HOA	
Aberdeen	
Addington	
Ashton	
Blackheath	
Brightwood	
Canterbury	
Collingtree	
Durban Park	
Oaklefe	
Parkstone	
Stratford Place	
Woodhall	
The Villages of Viera East HOA	
Bennington	
Somerville	
Templeton	
Herons' Landing HOA	
Herons' Landing	
Grand Isle HOA	
Grand Isle	
Bayhill Residential District HOA	
Bay Hill	
Cross Creek	

 	
Wingate Estates District Association HOA	
Wingate Estates	
Auburn Lakes District HOA	
Auburn Lakes	
IRCC	
Osprey Residential District HOA	
Osprey Landing	
Osprey Ridge	
Heritage District HOA	
The Heritage	
Fawn Ridge District HOA	
Fawn Ridge	
Hammock Trace District HOA	
Hammock Trace	
Hammock Estates of Brevard HOA	
Hammock Lakes	
Greens at Viera East Condo Assoc	
The Greens Condos	
Lakes a Viera East Condo Assoc	
The Lakes Condos	
Center at Murrell and Viera HOA	
Center at Murrell and Viera	
Corporate Park at Viera HOA	
Corporate Park at Viera	
Master HOA Viera East	
Master Home Owners Association (VECA)	

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VIERA EAST COMMUNITY DEVELOPMENT DISTRICT COMPONENTS
31 SUBDIVISIONS/COMMUNITIES
4,200 RESIDENTAL UNITS
APPROXIMATELY 205 ACRES OF COMMERCIAL PROPERTIES
OVER 1,000 ACRES OF WETLANDS & CONSERVATION AREAS
SCRUB JAY HABITAT
84 CDD MAINTAINED RETENTION PONDS
5+ MILES OF SIDEWALKS AND BIKE PATHS
RESTAURANT – LEASED TO THIRD PARTY
WOODSIDE PARK
VARIOUS INFRASTRUCTURE MAINTENANCE AREAS THROUGHOUT CDD
NATURAL AREA TRAILS
18 HOLE CHAMPIONSHIP GOLF COURSE AND PRACTICE RANGE
EMPLOYEES 50 STAFF MEMBERS
VISIT THE CDD WEBSITE: WWW.VIERAEASTCDD.COM

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CDD Accomplishments
Lake Bank Restoration – CDD Owns 33.1 miles of lake banks
Restores 2,000 linear feet per year
10k LF since 2015
Fire Line Maintenance
Over 51k linear feet per year – 1/3 per year
TifEagle Greens and Putting Surfaces Added – 2016
EZ Links Software and Tee Time System - 2017
New Rainbird Pump Station – 2018
Mike Hogan Golf School for Youth Since 2014 – Approx. 100 students per Summer

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FY 2021	

Water Management Debt Service Fund	
$413.74	

Operation and Maintenance (General Fund)	
$135.95	
Recreation Fund (Recreation Debt and Operations)	$128.67	
Total Per Unit	$678.35	

Proposed FY 2021 Assessment Rates

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Water Mangement Debt,
$413.74, 61%

General Fund,
$135.95, 20%

Bond,
$112.24, 17%

Proposed Assessment Breakdown
Recreation - Operations,
$16.33, 2%
Recreation

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Water Management Debt Fund
Assessments Fund Principal and Interest
Remaining Debt at Start of FY 2021: $4,405,000
Fully Amortized on 5/1/2022
FY 2021 Proposed
Assessments: $2,376,297
Interest Income: $1,500
Fund Balance: $522,357
Bond Interest: $253,288
Bond Principal: $2,140,000
Fund Balance: $506,866 (Projected remaining at end of FY 2021)

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General Fund
General CDD Administration
Park Maintenance
Lake Maintenance
Fire Line Maintenance
Conservation Area Maintenance
Assessment and Revenues - $864,536
Expense - $864,536

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Budgeted	Actuals (Through 7/31/20)	Projected (9/30/20)	

Golf Course Revenues	

$1,967,237	

$1,560,499	

$1,798,353	
Golf Course Expenses	
($1,959,767)	
($1,520,650)	
($1,788,697)	

Net Gain/Loss	
$7,470	
$39,849	
$9,656	

				

2020 Actual and Projected
Golf Course Revenues and Expenses

* Figures only include Golf Revenues and Expenses and are exclusive of Recreation assessments, also includes transfer out to reserves

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$4,175

Net Income

($ 1,924,521)

Golf Course Expenses

$ 1,928,696

Golf Course Revenues

Budgeted FY 2021

2021 FY PROPOSED BUDGET
Golf Course Revenues and Expenses

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Revenue by Category FY 2021
Greens Fees - $1,424,357
Platinum/Gold Memberships - $210,000
Associate Membership - $42,000
Driving Range - $80,000
Golf Lessons - $2,100
Merchandise Sales - $115,000
Restaurant - $20,000
Special Assessments – Operations - $18,239
Miscellaneous Income - $15,000

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Expenses by Department FY 2021
General Expenditures - $143,400
Restaurant Expenditures - $12,800
Golf Operations - $418,286
Merchandise COGS - $77,000
Golf Course Maintenance Expenditures - $1,084,836
Administrative Expenditures - $156,980
Reserves - $31,219

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Recreation Fund
Assessment ($128.57 per unit) - $622,056 (net)
Expenses
General Fund (Woodside Park) – $43,567
Golf Course Operations – $18,239
Recreation Debt – $560,250
Remaining 2012 Debt at start of FY 2021: $2,895,000
Fully Amortized on 5/1/2026
Bond Interest - $140,425
Bond Principal - $425,000
Interest Income - $1,000
Series 2020 Bonds – Not Included as No Assessment Revenues for FY 21

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Projected FY 20	
FY 2019	
FY 2018	
FY 2017	
FY 2016	
FY 2015	
FY 2014	

Golf Revenue	
$1,798,353	
$1,764,662	
$1,769,952	
$1,631,399	
$1,243,463	
$1,282,146	
$1,349,661	

Expenses (Net of Reserve Transfer)	
$1,775,568	
$1,741,079	
$1,714,841	
$1,597,625	
$1,407,736	
$1,272,534	
$1,291,992	

Effective Income	
$22,785	
$23,583	
$55,111	
$33,774	
($164,273)	
$9,612	
$57,669	

Rounds of Golf	
50,902	
52,632	
52,534	
52,709	
41,968	
42,209	
40,626	

Golf Course Financials Over Time

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Capital Projects Fund
Used for Capital Projects Throughout the District
End of FY 13 - $450,621
End of FY 14 – $783,179
End of FY 15 – $785,491
End of FY 16 - $290,437
End of FY 17 - $336,203
End of FY 18 – $263,550
End of FY 19 - $283,792
Proposed End of FY 20 - $384,802
Proposed End of FY 21 - $294,732

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