Viera East
Community Development District

Adopted Budget
FY2022

Viera East Community Development District

Table of Contents

Pages

General Fund	1-2
General Fund Narrative	3-10
Capital Reserve	11
Debt Service- Series 2006	12
Debt Service Fund - Series 2006 Amortization	13
Debt Service- Series 2020	14
Debt Service Fund - Series 2020 Amortization	15
Golf Course	16-19
Golf Course Narrative	20-31
Recreation Fund Debt Service -Series 2012 Amortization	32

	
Actual	Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Adopted
Budget	
	FY 2020	FY 2021	7/31/21	2 Months	@ 9/30/21	FY 2022	

Revenues							
Maintenance Assessments	$808,157	$808,157	$808,157	($0)	$808,157	$808,157	
Golf Course Administrative Services	$56,280	$56,280	$46,900	$9,380	$56,280	$56,280	
Donations for Park Materials	$0	$0	$2,000	$0	$2,000	$0	
Interest Income	$5	$100	$4	$5	$9	$100	
Carryforward Surplus	$0	$0	$0	$0	$0	$42,948	
Total Revenues	$864,442	$864,536	$857,061	$9,384	$866,445	$907,484	

Administrative Expenditures							
Supervisors Fees	$25,249	$30,496	$25,367	$4,000	$29,367	$30,496	
Engineering Fees	$5,905	$5,000	$1,815	$500	$2,315	$5,000	
Attorney's Fees	$10,454	$5,000	$11,698	$2,500	$14,198	$5,000	
Dissemination	$1,167	$1,000	$833	$167	$1,000	$1,000	
Trustee Fees	$6,700	$5,600	$5,836	$933	$6,769	$5,600	
Annual Audit	$6,508	$6,500	$2,750	$250	$3,000	$6,500	
Collection Agent	$2,500	$2,500	$2,084	$417	$2,500	$2,500	
Management Fees	$100,440	$100,440	$83,700	$16,740	$100,440	$103,454	
Postage	$2,625	$1,500	$2,090	$300	$2,390	$1,500	
Printing & Binding	$1,448	$2,500	$1,102	$500	$1,602	$2,500	
Insurance- Liability	$6,230	$7,475	$7,300	$1,217	$8,517	$8,040	
Legal Advertising	$2,496	$1,500	$2,037	$400	$2,437	$1,500	
Other Current Charges	$1,371	$1,500	$358	$70	$428	$1,500	
Office Supplies	$551	$1,500	$132	$50	$182	$1,500	
Dues & Licenses	$175	$175	$146	$29	$175	$175	
Information Technology	$3,400	$3,400	$2,833	$567	$3,400	$4,250	
Total Administrative	$177,219	$176,086	$150,081	$28,639	$178,720	$180,515	

Operating Expenditures							
Salaries	$143,792	$149,299	$121,281	$23,842	$145,123	$147,487	
Administration Fee	$1,624	$1,659	$1,730	$399	$2,130	$1,388	
FICA Expense	$10,037	$11,421	$7,756	$1,473	$9,229	$11,283	
Health Insurance	$15,236	$16,914	$13,144	$2,617	$15,761	$17,410	
Workers Compensation	$3,928	$2,926	$3,099	$674	$3,773	$2,891	
Unemployment	$840	$853	$992	$120	$1,112	$842	
Other Contractual	$8,561	$7,500	$7,239	$1,000	$8,239	$7,500	
Marketing- Lifestyle/Amenities	$0	$0	$0	$0	$0	$18,000	
Training	$0	$500	$0	$250	$250	$500	
Uniforms	$0	$500	$0	$250	$250	$500	
Total Operating	$184,018	$191,572	$155,242	$30,626	$185,868	$207,801	

Maintenance Expenditures							
Canal Maintenance	$10,485	$14,000	$0	$8,000	$8,000	$14,000	
Lake Bank Restoration	$55,950	$60,000	$57,000	$0	$57,000	$30,000	
Environmental Services	$16,938	$20,000	$2,996	$1,000	$3,996	$20,000	
Water Management System	$100,938	$99,000	$89,577	$15,774	$105,351	$99,000	
Midge Control	$0	$0	$0	$0	$0	$15,000	
Control Burns	$4,076	$15,000	$2,790	$1,000	$3,790	$0	
Contingencies	$985	$2,000	$0	$1,000	$1,000	$2,000	
Fire Line Management	$1,275	$3,000	$800	$500	$1,300	$2,000	
Basin Repair	$1,585	$4,000	$0	$750	$750	$3,000	
Total Maintenance	$192,232	$217,000	$153,163	$28,024	$181,187	$185,000	

	
Actual	Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Adopted
Budget	
	FY 2020	FY 2021	7/31/21	2 Months	@ 9/30/21	FY 2022	

Grounds Maintenance Expenditures
Salaries	

$140,301	

$140,787	

$108,822	

$21,534	

$130,356	

$166,108	
Administrative Fees	$3,605	$3,684	$2,702	$520	$3,222	$3,446	
FICA	$10,408	$10,770	$8,013	$1,590	$9,603	$12,707	
Health Insurance	$16,694	$18,818	$13,442	$2,752	$16,194	$28,182	
Workers Compensation	$3,831	$2,759	$2,753	$588	$3,341	$3,256	
Unemployment	$1,951	$2,120	$1,745	$300	$2,045	$2,506	
Telephone	$5,829	$6,250	$5,125	$588	$5,713	$6,250	
Utilities	$6,662	$5,500	$5,797	$1,198	$6,995	$7,200	
Property Appraiser	$1,988	$1,990	$1,989	$0	$1,989	$1,990	
Insurance- Property	$1,512	$1,663	$1,249	$250	$1,499	$2,197	
Repairs	$27,566	$15,000	$16,206	$3,500	$19,706	$15,000	
Fuel	$13,191	$10,000	$11,661	$1,500	$13,161	$10,000	
Park Maintenance	$3,235	$2,500	$4,101	$300	$4,401	$7,500	
Sidewalk Repair	$11,118	$5,000	$0	$2,500	$2,500	$10,000	
Chemicals	$3,421	$4,000	$1,924	$750	$2,674	$4,000	
Contingencies	$1,954	$4,000	$6,244	$500	$6,744	$4,000	
Refuse	$5,826	$6,000	$3,840	$480	$4,320	$6,000	
Office Supplies	$176	$750	$765	$200	$965	$750	
Uniforms	$2,575	$3,000	$2,064	$490	$2,554	$3,000	
Fire Alarm System	$3,069	$6,500	$6,292	$1,022	$7,314	$7,500	
Rain Bird Pump System	$27,582	$27,576	$23,444	$4,596	$28,040	$27,576	
Park Materials	$0	$0	$2,347	$0	$2,347	$0	
Maintenance Reserve- Transfer Out	$3,719	$1,211	$750	$461	$1,211	$5,000	
Maintenance Reserve- Transfer Out (Excess)	$0	$0	$0	$829	$829	$0	
Total Grounds Expenditures	$296,214	$279,878	$231,274	$46,448	$277,722	$334,168	
							
Total Expenses	$849,683	$864,536	$689,760	$133,737	$823,497	$907,484	
							
Excess Revenue/(Expenditures)	$14,759	$0	$167,300	($124,353)	$42,948	$0	

FY 2018	

FY 2019	

FY 2020	

FY 2021	

FY 2022	
Net Assessment- General		$ 779,212	$	779,212	$ 779,212	$	779,212	$	779,212	
Net Assessment- Recreation	 $	28,945    $	28,945    $	28,945    $	28,945    $	28,945 	
Total Net Assessments	$ 808,157	$	808,157	$ 808,157	$	808,157	$	808,157	
Discounts @ 4%	$	51,584	$	51,584	$	51,584	$	51,584	$	51,584	
Gross Assessment	$ 859,741	$	859,741	$ 859,741	$	859,741	$	859,741	

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	$	414	$	414	$	414	$	414	$	364	
Assessment per Unit - Recreation	$	129	$	129	$	129	$	129	$	129	
	$	678	$	678	$	678	$	678	$	628	

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

Annual Amount

Description

Base
10% of Maintenance Supervisor

$ 75,000
$ (7,280)

50% of Labor Position
Total

   $ (11,440) 
   $ 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, Robb & Taylor Engineering Solutions Inc, 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.

Description	Admin
Amount		Field
Amount		Annual
Amount	
General Liability	$	4,687		$	-		$	4,687	
POL/EPLI	$	3,353		$	-		$	3,353	
Property	$	-		$	2,197		$	2,197	
Total	$	8,040		$ 2,197		$ 10,237	

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 1.75% cost of living increase for qualifying full-time employees.

Administration Fee
Represents fee to Applied Business Solutions for administration of pay and benefits. Applied Business Solutions charges an administration fee of $26.23 per full time employee per pay period and $21.23 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 Applied Business Solutions.

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.

Annual Amount

Description

ADT Security
Ecolab Pest Elimination Xelar Copier
Additional Contract Funds
Total Annual Budget

$	2,352
$	3,937
$	1,117
$	94

$	7,500

Marketing- Lifestyle/Amenities
The District is in contract with Unique Webb Consulting to provide Lifestyle and Marketing services which include, but are not limited to social media publications, strategy planning, blogging, videography, photography, event planning, and marketing.

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.

Monthly	Annual
Description	Amount	Amount	
Natural Areas Management	$	3,296		$	39,551	
Wingate & Auburn Lake Aquatic Weed Control	$	664		$	7,971	
Bayhill Wetland Maintenance (Bi-Monthly)	$	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	

Midge Control
Lake spraying for midge control throughout the CDD.

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 5 full time and 1 part time employee’s to handle the grounds maintenance of the District. The proposed amount includes a 1.75% cost of living increase for qualifying full-time employees.

Administration Fee
Represents fee to Applied Business Solutions for administration of pay and benefits. Applied Business Solutions charges an administration fee of $26.23 per full time employee per pay period and $21.23 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 Applied Business Solutions.

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	
Blueline Telecom Group	$	517	$	6,204	
Contingency		   $	46 	
Total		   $ 6,250 	

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

590	$
$
$

7,080
120
7,200

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 FY2022 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.

Description	Admin
Amount		Field
Amount		Annual
Amount	
General Liability	$	4,687		$	-		$	4,687	
POL/EPLI	$	3,353		$	-		$	3,353	
Property	$	-		$	2,197		$	2,197	
Total	$	8,040		$ 2,197		$ 10,237	

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

$   430	$

5,160

Contingency
Total

   $	840 
   $	6,000 

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	$	511	$	6,135	
Contingency		$	189	
Total Annual Budget		$	7,500	

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

Annual Amount

Monthly Amount

Vendor

Rain Bird
Total Annual Budget

$ 2,298

$ 27,576

$ 27,576

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 2021

	Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Adopted
Budget	
	FY 2021	7/31/21	2 Months	@ 9/30/21	FY 2022	

Revenues						
Beginning Fund Balance	$229,102	$298,978	$0	$298,978	$315,696	
Interest Income	$2,500	$127	$40	$167	$1,000	
Reserve Funding - Transfer In (General)	$1,211	$750	$461	$1,211	$5,000	
Reserve Funding - Transfer In (Golf)	$31,219	$19,326	$11,893	$31,219	$6,694	
Reserve Funding - Transfer In (General Excess)	$0	$0	$829	$829	$0	
Reserve Funding - Transfer In (Golf Excess)	$0	$0	$56,114	$56,114	$0	
Total Revenues	$264,032	$319,181	$69,337	$388,518	$328,390	

Expenditures						
Capital Outlay	$100,000	$72,821	$0	$72,821	$100,000	
Truck Maintenance	$25,000	$0	$0	$0	$25,000	
Transfer Out	$0	$0	$0	$0	$0	
Total Expenditures	$125,000	$72,821	$0	$72,821	$125,000	
						
Excess Revenues (Expenditures)	$139,032	$246,359	$69,337	$315,696	$203,390	

Community Development District
Debt Service Fund Series 2006
Adopted Budget FY2022

	Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Adopted
Budget	
	FY 2021	7/31/21	2 Months	@ 9/30/21	FY 2022	

Revenues							
Special Assessments		$	2,376,297	$	2,376,297	$	-	$	2,376,297	$	2,089,942	
Interest Income		$	1,500	$	49	$	30	$	79	$	100	
Beginning Fund Balance		$	466,966	$	475,238	$	-	$	475,238	$	458,327	
Total Revenues		$ 2,844,763	$ 2,851,584	$	30	$ 2,851,614	$ 2,548,369	

Expenditures							
Series 2006 Interest-11/1		
$	126,644	
$	126,644	
$	-	
$	126,644	
$	65,119	
Interest-5/1		$	126,644	$	126,644	$	-	$	126,644	$	65,119	
Principal-5/1		$	2,140,000	$	2,140,000	$	-	$	2,140,000	$	2,265,000	
Total Expenditures		$ 2,393,288	$ 2,393,288	$	-	$ 2,393,288	$ 2,395,238	
							
Excess Revenues							
(Expenditures)		$	451,476	$	458,297	$	30	$	458,327	$	153,131	
							
			FY 2019	FY 2020	FY 2021	FY 2022	
		et Assessments	$	2,376,297	$	2,376,297	$	2,376,297	$	2,089,942	

N
Discounts

   $	143,800	$	143,800	$	143,800	$	126,471 

Gross Assessment    $	2,520,097	$	2,520,097	$	2,520,097	$	2,216,413 

Gross Assessments	$	2,520,097	$	2,520,097	$	2,520,097	$	2,216,413	
Assessable Units	 	6,091	6,091	6,091	6,091 	
Per Unit Assessments	   $	414	$	414	$	414	$	364 	

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

Date	Series 2006
Principal	
Interest	Fiscal
Total	
	
11/1/21		$65,119	$2,331,763	
5/1/22	$	2,165,000	$65,119	$65,119	
	
	$	2,165,000	$130,238	$4,912,963	

Viera East Community Development District
Debt Service Fund Series 2020
Adopted Budget FY2022

	Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Adopted
Budget	
	FY 2021	7/31/21	2 Months	@ 9/30/21	FY 2022	

Revenues						
Interest Income	$	1,000	$	24	$	10	$	34	$	500	
Beginning Fund Balance	$	-	$	413,905	$	-	$	413,905	$	270,953	
Total Revenues	$	1,000	$	413,929	$	10	$	413,939	$	271,453	

Expenditures						
Series 2020 Interest-11/1	
$	52,679	
$	52,679	
$	-	
$	52,679	
$	90,308	
Interest-5/1	$	90,308	$	90,308	$	-	$	90,308	$	90,308	
Total Expenditures	$	142,987	$	142,987	$	-	$	142,987	$	180,615	
						
Excess Revenues						
(Expenditures)	$	(141,987)	$	270,943	$	10	$	270,953	$	90,838	

* Excess Revenues needed to pay the 11/1/22 Interest Payment	$	90,308

Viera East
Community Development District
Debt Service - Series 2020 Amortization Schedule

Date	
Bond Balance	
Interest	
Principal	
Interest	Fiscal Year
Total	
						
11/01/20				$	52,497.38	$	52,497.38	
05/01/21	7,685,000			$	90,307.50		
11/01/21				$	90,307.50	$	180,615.00	
05/01/22	7,685,000			$	90,307.50		
11/01/22				$	90,307.50	$	180,615.00	
05/01/23	7,685,000	2.000%	$475,000	$	90,307.50		
11/01/23				$	85,557.50	$	650,865.00	
05/01/24	7,210,000	2.000%	$490,000	$	85,557.50		
11/01/24				$	80,657.50	$	656,215.00	
05/01/25	6,720,000	2.000%	$500,000	$	80,657.50		
11/01/25				$	75,657.50	$	656,315.00	
05/01/26	6,220,000	2.000%	$795,000	$	75,657.50		
11/01/26				$	67,707.50	$	938,365.00	
05/01/27	5,425,000	2.000%	$380,000	$	67,707.50		
11/01/27				$	63,907.50	$	511,615.00	
05/01/28	5,045,000	2.000%	$385,000	$	63,907.50		
11/01/28				$	60,057.50	$	508,965.00	
05/01/29	4,660,000	2.000%	$395,000	$	60,057.50		
11/01/29				$	56,107.50	$	511,165.00	
05/01/30	4,265,000	2.125%	$400,000	$	56,107.50		
11/01/30				$	51,857.50	$	507,965.00	
05/01/31	3,865,000	2.600%	$410,000	$	51,857.50		
11/01/31				$	46,527.50	$	508,385.00	
05/01/32	3,455,000	2.600%	$425,000	$	46,527.50		
11/01/32				$	41,002.50	$	512,530.00	
05/01/33	3,030,000	2.600%	$435,000	$	41,002.50		
11/01/33				$	35,347.50	$	511,350.00	
05/01/34	2,595,000	2.600%	$445,000	$	35,347.50		
11/01/34				$	29,562.50	$	509,910.00	
05/01/35	2,150,000	2.750%	$455,000	$	29,562.50		
11/01/35				$	23,306.25	$	507,868.75	
05/01/36	1,695,000	2.750%	$470,000	$	23,306.25		
11/01/36				$	16,843.75	$	510,150.00	
05/01/37	1,225,000	2.750%	$485,000	$	16,843.75		
11/01/37				$	10,175.00	$	512,018.75	
05/01/38	740,000	2.750%	$740,000	$	10,175.00		
						
			$7,685,000	$	1,992,584.88	$	8,927,409.88	

	
Actual	Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Adopted
Budget	
	FY 2020	FY 2021	7/31/21	2 Months	@ 9/30/21	FY 2022	

Revenues		
Greens Fees	$1,298,367	$1,426,357	$1,400,964	$280,193	$1,681,157	$1,426,357	
Gift Cards- Sales	$7,555	$25,000	$9,711	$1,942	$11,653	$25,000	
Gift Cards- Usage	($12,531)	($25,000)	($17,191)	($3,438)	($20,629)	($25,000)	
Season Advance/Trail Fees	$213,683	$210,000	$198,038	$32,000	$230,038	$210,000	
Associate Memberships	$37,130	$42,000	$37,367	$7,500	$44,867	$42,000	
Driving Range	$74,807	$80,000	$77,922	$15,584	$93,507	$80,000	
Golf Lessons	$2,040	$2,100	$1,750	$350	$2,100	$2,100	
Merchandise Sales	$111,694	$115,000	$104,505	$20,901	$125,406	$115,000	
Restaurant	$25,671	$20,000	$31,237	$6,247	$37,484	$20,000	
Assessments -Recreation Operating	$22,527	$18,239	$15,193	$3,046	$18,239	$18,239	
Miscellaneous Income	$23,945	$15,000	$4,964	$1,500	$6,464	$15,000	
Total Revenues	$1,804,888	$1,928,696	$1,864,459	$365,825	$2,230,285	$1,928,696	

General Expenditures							
Other Contractual Services	$14,646	$15,000	$13,291	$5,000	$18,291	$15,000	
Telephone	$2,721	$5,500	$1,182	$212	$1,394	$2,500	
Postage	$6,517	$2,000	$1,623	$300	$1,923	$2,000	
Printing & Binding	$401	$1,000	$0	$300	$300	$1,000	
Utilities	$14,491	$15,900	$12,789	$2,400	$15,189	$15,900	
Repairs & Maintenance	$3,733	$8,000	$11,299	$1,500	$12,799	$8,000	
Marketing- Golf Marketing	$29,219	$45,000	$14,749	$2,400	$17,149	$39,000	
Bank Charges	$37,576	$35,000	$40,000	$7,500	$47,500	$35,000	
Office Supplies	$3,598	$4,000	$2,590	$750	$3,340	$4,000	
Operating Supplies	$3,288	$5,000	$3,559	$1,000	$4,559	$5,000	
Dues, Licenses & Subscriptions	$7,371	$8,000	$8,194	$2,000	$10,194	$8,000	
Drug Testing- All departments	$190	$500	$681	$200	$881	$500	
Training, Education & Employee Relations	$4,452	$3,000	$1,655	$500	$2,155	$3,000	
Contractual Security	$3,098	$3,000	$3,594	$764	$4,358	$3,000	
IT Services	$1,227	$3,000	$2,367	$190	$2,557	$3,000	
Total Golf Course Expenditures	$132,529	$153,900	$117,572	$25,016	$142,588	$144,900	

	
Actual	Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Adopted
Budget	
	FY 2020	FY 2021	7/31/21	2 Months	@ 9/30/21	FY 2022	

Restaurant Expenditures							
Pest Control	$1,236	$1,200	$1,046	$190	$1,236	$1,200	
Equipment Lease	$1,176	$1,100	$1,067	$198	$1,265	$1,100	
Total Restaurant Expenditures	$2,412	$2,300	$2,113	$388	$2,501	$2,300	

Golf Operations:							
Salaries	$220,151	$210,900	$169,291	$37,620	$206,911	$239,595	
Administrative Fee	$20,391	$19,957	$14,038	$3,119	$17,157	$19,039	
FICA Expense	$16,830	$16,547	$12,951	$2,878	$15,829	$18,329	
Health Insurance	$434	$707	$312	$69	$382	$739	
Workers Compensation	$6,052	$4,239	$4,294	$800	$5,094	$4,696	
Unemployment	$10,188	$12,786	$7,153	$1,590	$8,742	$12,835	
Golf Printing	$1,206	$2,200	$2,414	$537	$2,951	$2,200	
Utilities	$20,054	$22,500	$16,958	$3,768	$20,726	$22,500	
Repairs	$145	$250	$387	$86	$474	$250	
Pest Control	$1,236	$1,200	$1,046	$232	$1,279	$1,200	
Supplies	$17,573	$10,000	$11,400	$2,533	$13,934	$10,000	
Uniforms	$2,007	$1,500	$0	$500	$500	$1,500	
Training, Education & Employee Relations	$260	$2,000	$0	$500	$500	$2,000	
Fuel	$0	$500	$0	$250	$250	$500	
Cart Lease	$81,913	$99,000	$75,288	$16,731	$92,019	$87,763	
Cart Maintenance	$4,077	$4,000	$5,094	$1,132	$6,226	$4,000	
Driving Range	$4,833	$10,000	$2,640	$587	$3,227	$10,000	
Total Golf Operation Expenditures	$407,350	$418,286	$323,266	$72,933	$396,198	$437,146	

Merchandise Sales:							
Cost of Goods Sold	$90,995	$77,000	$68,299	$10,000	$78,299	$77,000	
Total Merchandise Sales	$90,995	$77,000	$68,299	$10,000	$78,299	$77,000	

Golf Course Maintenance:
Salaries	

$422,814	

$452,632	

$332,989	

$66,598	

$399,587	

$420,047	
Administrative Fees	$10,891	$11,919	$8,641	$1,728	$10,369	$9,595	
FICA Expense	$30,990	$3,756	$24,505	$4,901	$29,405	$32,134	
Employee Insurance	$45,857	$49,336	$31,813	$6,363	$38,175	$43,225	
Workers Compensation	$11,446	$11,023	$8,395	$1,679	$10,074	$9,341	
Unemployment	$6,279	$8,170	$6,019	$1,204	$7,223	$7,165	
Consulting Fees	$6,000	$6,000	$2,000	$400	$2,400	$0	
Fire Alarm System	$3,114	$4,000	$557	$111	$668	$4,000	
Utilities/Water	$26,832	$26,200	$23,014	$4,603	$27,616	$26,200	

	
Actual	Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Adopted
Budget	
	FY 2020	FY 2021	7/31/21	2 Months	@ 9/30/21	FY 2022	

Repairs	
$37,755	
$48,000	
$31,848	
$6,370	
$38,217	
$48,000	
Fuel & Oil	$26,787	$40,000	$24,257	$4,851	$29,108	$40,000	
Pest Control	$1,261	$1,000	$964	$193	$1,157	$1,000	
Irrigation/Drainage	$18,711	$30,000	$12,396	$2,479	$14,875	$30,000	
Sand and Topsoil	$10,470	$26,500	$7,155	$1,431	$8,586	$26,500	
Flower/Mulch	$8,900	$7,000	$3,222	$644	$3,867	$7,000	
Fertilizer	$131,490	$139,000	$59,606	$11,921	$71,528	$139,000	
Seed/Sod	$9,363	$16,500	$1,681	$336	$2,017	$16,500	
Trash Removal	$2,371	$2,000	$2,248	$450	$2,697	$2,000	
Contingency	$5,250	$6,000	$2,209	$442	$2,651	$6,000	
First Aid	$1,287	$800	$432	$86	$519	$800	
Office Supplies	$158	$1,000	$0	$0	$0	$1,000	
Operating Supplies	$6,153	$15,000	$5,256	$1,051	$6,307	$15,000	
Training	$2,023	$1,000	$1,506	$301	$1,807	$1,000	
Janitorial Supplies	$30	$1,000	$473	$95	$567	$1,000	
Janitorial Services	$0	$0	$0	$0	$0	$20,000	
Soil & Water Testing	$0	$1,000	$0	$0	$0	$1,000	
Uniforms	$8,136	$8,500	$6,530	$1,306	$7,836	$8,500	
Equipment Rental	$0	$2,000	$162	$32	$195	$2,000	
Equipment Lease	$171,266	$165,000	$129,182	$25,836	$155,019	$177,975	
Small Tools	$0	$500	$0	$0	$0	$500	
Total Golf Course Maintenance	$1,005,634	$1,084,836	$727,059	$145,412	$872,471	$1,096,482	

Administrative Expenditures:							
Legal Fees	$1,436	$1,500	$0	$1,000	$1,000	$1,500	
Arbitrage	$450	$600	$316	$134	$450	$600	
Dissemination	$1,000	$1,000	$833	$167	$1,000	$1,000	
Trustee Fees	$4,089	$4,100	$3,752	$683	$4,435	$4,100	
Annual Audit	$542	$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	$66,995	$77,000	$67,510	$14,400	$81,910	$85,019	
Property Taxes	$16,346	$15,000	$16,921	$1,159	$18,080	$10,000	
Total Administrative Expenditures	$147,138	$156,980	$137,483	$27,173	$164,656	$159,999	

Reserves:							
Renewal & Replacement	$13,129	$31,219	$19,326	$11,893	$31,219	$6,694	
Total Reserves	$13,129	$31,219	$19,326	$11,893	$31,219	$6,694	
							
Total Revenues	$1,804,888	$1,928,696	$1,864,459	$365,825	$2,230,285	$1,928,696	
							
Total Expenditures	$1,799,187	$1,924,521	$1,395,117	$292,815	$1,687,932	$1,924,521	
							
Operating Income (Loss)	$5,702	$4,175	$469,342	$73,010	$542,353	$4,175	

	
Actual	Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Adopted
Budget	
	FY 2020	FY 2021	7/31/21	2 Months	@ 9/30/21	FY 2022	

Non Operating Revenues/(Expenditures):							
Assessments -Recreation Debt Service	$571,457	$560,250	$466,875	$93,375	$560,250	$560,250	
Interest Income	$249	$1,000	$14	$8	$22	$1,000	
Gain on Sale of Asset	$0	$0	$45	$0	$45	$0	
Maintenance Reserve (Excess)	$0	$0	$0	($56,114)	($56,114)	$0	
Interest Expense	($156,825)	($140,425)	($117,021)	($23,404)	($140,425)	($140,425)	
Principal Expense	($410,000)	($425,000)	($354,167)	($70,833)	($425,000)	($425,000)	
Total Non Operating  Revenues/(Expenditures)	$4,881	($4,175)	($4,253)	($56,969)	($61,222)	($4,175)	
							
Net Non Operating Income / (Loss)	$10,583	$0	$465,089	$16,042	$481,130	$0	

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 (10- 11%) of gross sales not excluding sales tax through the lease term ending on September 30, 2023.

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	$	180	$	2,160	
FPL	91273-57086	$	30	$	360	
City of Cocoa	313093-70192	$	125	$	1,500	
City of Cocoa	150351-141774	$	75	$	900	
Contingency			   $	480 	
Total			   $	5,400 	

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.

Marketing- Golf Marketing
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	
Florida State Golf Association	Handicap fees	5000	
Brevard County	Business Tax License	$	82	
FL Space	Membership	$	805	
Cocoa Beach Regional Chapter	Membership	$	535	
US Golf Association	Membership	$	150	
Amazon Prime	Membership	$	156	
GCSAA	Gold Membership	$	435	
Contingency		$	487	
Total		$ 8,000	
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:

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

Monthly	Annual
Vendor	Amount	Amount	
Ecolab Pest Elimination	$	95	$	1,141	
Contingency		$	59	
Total		$	1,200	

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 1.75% cost of living increase for qualifying full time employees.

Administration Fee
Represents fee to Applied Business Solutions for administration of pay and benefits. Applied Business Solutions charges an administration fee of $26.23 per full time employee per pay period and $21.23 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 Applied Business Solutions.

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	
Banleaco		$	202	$	2,421	
Contingency			$	759	
Total			$ 22,500	
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	$	95	$	1,141	
Contingency		$	59	
Total		$ 1,200	

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	$ 6,553	$ 78,635	
TCF Equipment Finance	$	242	$	2,909	
Marlin Business Bank	$	236	$	2,829	
GPS System	$	936	$ 11,232	
Yamaha Lease	$	164	$	1,968	
Golf Cart	$	97	$	1,164	
Contingency		   $	263 	
Total		   $ 99,000 	

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 1.75% cost of living increase for qualifying full time employees.

Administration Fee
Represents fee to Applied Business Solutions for administration of pay and benefits. Applied Business Solutions charges an administration fee of $26.23 per full time employee per pay period and $21.23 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 Applied Business Solutions.

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

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	

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	$	77	$	924	
Contingency		$	76	
Total		$	1,000	

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	$	700	$	8,400	
Contingency		  $	100 	
Total		  $	8,500 	

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	$	6,249	$ 74,988	
TCF Equipment Finance	$	1,066	$ 12,792	
TCF Equipment Finance	$	5,116	$ 61,392	
TCF Equipment Finance	$	420	$	5,036	
TCF Equipment Finance	$	372	$	4,470	
TCF Equipment Finance	$	652	$	7,828	
TCF Equipment Finance	$	431	$	5,168	
TCF Equipment Finance	$	248	$	2,976	
Dex Imaging	$	115	$	1,380	
Contingency		  $	1,947 	
Total		  $ 177,975 	

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	$	22,773	
Property	$	49,803	
Crime	$	1,122	
Pollution Policy	$	2,400	
Equipment Insurance	$	486	
Contingency	$	416	
Total	   $ 77,000 	
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	
						
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	
						
			$3,305,000	$	678,581.26	$	4,464,400.01	

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