Viera East
Community Development District

Proposed Budget
FY 2025
Meeting Date: May 23, 2024

Viera East Community Development District		
Table of Contents		
	
Pages	
General Fund	1-2	
General Fund Narrative	3-11	
Capital Reserve	12	
Debt Service- Series 2020	13	
Debt Service Fund - Series 2020 Amortization	14	
Food and Beverage	15	
Food and Beverage Narrative	16-19	
Golf Course	20-22	
Golf Course Narrative	23-32	
Recreation Fund Debt Service -Series 2012 Amortization	33	

	
Actuals	Adopted Budget	Actuals As of	Projected Next	Total Projected @	Proposed Budget	
	FY 2023	FY 2024	4/30/24	5 Months	9/30/24	FY 2025	

Revenues							
Maintenance Assessments	$1,378,973	$1,378,973	$1,328,395	$50,578	$1,378,973	$	1,378,973	
Golf Course Administrative Services	$56,280	$56,280	$32,830	$23,450	$56,280	$56,280	
Donations for Park Materials	$0	$5,000	$0	$500	$500	$5,000	
Miscellaneous Income- Farmers Market	$25,351	$20,000	$3,866	$2,000	$5,866	$20,000	
Interest Income	$2	$100	$1	$1	$1	$100	
Total Revenues	$ 1,460,606	$ 1,460,353	$ 1,365,092	$	76,529	$ 1,441,621	$  1,460,353	

Administrative Expenditures							
Supervisors Fees	$26,389	$30,519	$13,037	$9,312	$22,350	$30,519	
Engineering Fees	$1,288	$5,000	$15,000	$5,000	$20,000	$5,000	
Attorney's Fees	$17,488	$20,000	$4,694	$3,353	$8,046	$20,000	
Dissemination	$1,000	$1,000	$583	$417	$1,000	$1,050	
Trustee Fees	$4,041	$5,600	$3,267	$2,333	$5,600	$5,600	
Annual Audit	$14,000	$14,000	$8,167	$5,833	$14,000	$14,000	
Collection Agent	$2,500	$2,500	$0	$2,500	$2,500	$2,500	
Management Fees	$106,557	$109,754	$64,023	$45,731	$109,754	$115,242	
Postage	$1,195	$2,000	$745	$532	$1,277	$2,000	
Printing & Binding	$980	$2,500	$73	$52	$124	$2,500	
Insurance- Liability	$8,813	$10,368	$5,320	$0	$5,320	$15,229	
Legal Advertising	$3,050	$2,500	$0	$500	$500	$2,500	
Other Current Charges	$1,263	$750	$876	$625	$1,501	$1,200	
Office Supplies	$524	$1,500	$1,060	$757	$1,818	$1,500	
Dues & Licenses	$175	$175	$175	$0	$175	$175	
Information Technology	$4,378	$4,509	$2,727	$1,948	$4,674	$4,735	
Total Administrative	$  193,641	$  212,675	$  119,746	$	78,893	$	198,639	$	223,750	

Operating Expenditures							
Salaries	$152,655	$168,699	$96,391	$68,851	$165,241	$178,500	
Administration Fee	$1,017	$1,228	$527	$376	$904	$1,436	
FICA Expense	$12,047	$12,905	$7,848	$5,606	$13,454	$14,155	
Health Insurance	$14,275	$10,000	$5,672	$4,051	$9,723	$5,000	
Workers Compensation	$2,274	$3,348	$1,621	$1,158	$2,779	$3,790	
Unemployment	$581	$1,078	$615	$439	$1,054	$1,119	
Retirement Contribution	$0	$5,061	$0	$1,000	$1,000	$5,061	
Other Contractual	$8,574	$12,000	$4,422	$3,158	$7,580	$12,000	
Marketing- Lifestyle/Amenities	$38,092	$75,000	$42,625	$30,446	$73,071	$75,000	
Training	$807	$0	$168	$0	$168	$500	
Uniforms	$263	$500	$0	$0	$0	$0	
Total Operating	$  230,583	$  289,819	$  159,888	$ 115,086	$	274,973	$	296,561	

Maintenance Expenditures							
Canal Maintenance	$9,990	$14,000	$0	$5,000	$5,000	$14,000	
Lake Bank Restoration	$0	$164,000	$257,160	$0	$257,160	$164,000	
Lake Bank Education Project	$0	$8,000	$0	$3,000	$0	$8,000	
Environmental Services	$3,117	$20,000	$1,028	$5,000	$6,028	$20,000	
Water Management System	$122,719	$132,000	$78,247	$55,891	$134,138	$132,000	
Midge Control	$0	$10,000	$0	$5,000	$5,000	$10,000	
Contingencies	$6,650	$2,000	$7,377	$0	$7,377	$2,000	
Fire Line Management	$0	$3,500	$0	$1,500	$1,500	$3,500	
Basin Repair	$57	$3,000	$0	$1,500	$1,500	$3,000	
Total Maintenance	$  142,532	$  356,500	$  343,811	$	76,891	$	417,702	$	356,500	

	
Actuals	Adopted Budget	Actuals As of	Projected Next	Total Projected @	Proposed Budget	
	FY 2023	FY 2024	4/30/24	5 Months	9/30/24	FY 2025	

Grounds Maintenance Expenditures							
Salaries	$159,063	$222,718	$113,604	$81,146	$194,750	$232,730	
Bonus Program	$40,166	$0	$41,823	$0	$41,823	$0	
Administrative Fees	$1,973	$2,320	$1,121	$801	$1,923	$2,840	
FICA	$12,599	$18,958	$9,268	$6,620	$15,888	$19,787	
Health Insurance	$20,758	$17,975	$15,564	$11,117	$26,682	$32,893	
Workers Compensation	$2,438	$4,420	$1,899	$1,357	$3,256	$4,942	
Unemployment	$1,260	$2,484	$1,255	$897	$2,152	$2,608	
Retirement Contribution	$0	$6,682	$0	$1,000	$0	$6,682	
Telephone	$12,263	$13,000	$8,952	$6,394	$15,347	$15,660	
Utilities	$9,448	$15,000	$5,057	$3,612	$8,669	$15,000	
Property Appraiser	$2,202	$1,990	$1,989	$0	$1,989	$1,990	
Insurance- Property	$2,886	$3,411	$2,095	$1,497	$3,592	$3,344	
Repairs	$23,633	$25,000	$8,125	$5,804	$13,929	$25,000	
Fuel	$19,957	$21,000	$8,827	$6,305	$15,131	$21,000	
Park Maintenance	$31,761	$45,000	$14,086	$10,062	$24,148	$45,000	
Sidewalk Repair	$6,057	$10,000	$13,712	$0	$13,712	$10,000	
Chemicals	$2,377	$4,000	$749	$535	$1,284	$4,000	
Contingencies	$2,201	$5,000	$6,763	$0	$6,763	$5,000	
Refuse	$10,050	$12,000	$6,350	$4,536	$10,886	$12,000	
Office Supplies	$60	$500	$0	$0	$0	$0	
Uniforms	$3,535	$3,000	$2,017	$1,441	$3,459	$4,000	
Fire Alarm System	$5,780	$7,500	$3,658	$2,613	$6,270	$7,500	
Rain Bird Pump System	$28,041	$27,585	$16,549	$11,490	$28,039	$28,041	
Park Materials	$0	$10,000	$0	$2,500	$2,500	$10,000	
Bay Hill Flow Way Maintenance	$0	$25,000	$0	$5,000	$5,000	$25,000	
Maintenance Reserve- Transfer Out	$420,817	$96,816	$96,816	$0	$96,816	$48,525	
Maintenance Reserve- Transfer Out (Excess)	$0	$0	$0	$6,300	$6,300	$0	
Total Grounds Expenditures	$  819,325	$  601,359	$  380,281	$ 171,025	$	550,306	$	583,542	
							
Total Expenses	$ 1,386,082	$ 1,460,353	$ 1,003,726	$ 441,894	$ 1,441,621	$  1,460,353	

Excess Revenue/(Expenditures)	$	74,525	$	-	$  361,366	$ (365,366)	$	-	$	-	

FY 2024	

FY 2025	

Net Assessment- General	$	1,350,028  $	1,350,028
Net Assessment- Recreation	 $	28,945  $	28,945 	
Total Net Assessments	$	1,378,973	$	1,378,973	
Discounts @ 6%	$	88,020	$	88,020	
Gross Assessment	$	1,466,993	$	1,466,993	

Assessable Units - Residential	
4,204	
4,204	
Assessable Units - Non-Residential	1,869	1,869	
Total Units	6,073	6,073	

Gross Assessment per Unit - General Fund	
$	236	
$	236	
Gross Assessment per Unit - Recreation	$	129	$	129	
Gross Assessment per Unit - Debt Service	$	139	$	139	
	$	504	$	504	

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
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.
Series 2020 Special Assessment Revenue Bond	$1,000 Trustee Fees
The District will pay annual trustee fees for Series 2020 Special Assessment Revenue Bond.

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	$	11,098		$	-		$	11,098	
POL/EPLI	$	4,131		$	-		$	4,131	
Property	$	-		$	3,344		$	3,344	
Total	$ 15,229		$	3,344		$ 18,573	

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 7% 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 $18 per employee.

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	Health, Accidental Death, Dental, Vision,	

Colonial Life	
E3682663	Life, and Long Term Disability
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.

Description

Annual Amount

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

$	5,423
$	4,920
$	1,444
$	213

$ 12,000

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. This also includes all ads in the Viera Voice for the CDD golf course.

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	$	4,371	$	52,448	
Wingate & Auburn Lake Aquatic Weed Control	$	895	$	10,743	
Bayhill Wetland Maintenance	$	420	$	5,040	
Natural Vegitation Management (Bi-Monthly)	$	220	$	1,320	
Aquatic Weed Control	$	4,518	$	54,212	
Header Canal Maintenance (Quarterly)	$	1,700	$	6,800	
Unanticipated Repairs/Improvements		$	1,437	
Total	$ 12,124	$ 132,000	

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 7% 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 $18 per employee.

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	Health, Accidental Death, Dental, Vision,	

Colonial Life	
E3682663	Life, and Long Term Disability
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.			

Vendor	Monthly Amount	Annual Amount	
Fusion	$	1,229	$	14,748	
Contingency		 $	252 	
Total		 $ 15,000 	

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

Vendor

Account

Monthly		Annual Amount	Amount

FPL	83490-45156	$
Contingency
Total

680

$	8,160
$	6,840

$ 15,000

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 FY2024 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	$	11,098		$	-		$	11,098	
POL/EPLI	$	4,131		$	-		$	4,131	
Property	$	-		$	3,344		$	3,344	
Total	$ 15,229		$	3,344		$ 18,573	

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

$	750	$

9,000

Contingency
Total

 $	3,000 
 $ 12,000 

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		 $	1,376 	
Total		 $	4,000 	

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.

Vendor	Monthly Amount	Annual Amount	
Rain Bird	$ 2,298	$ 27,581	
Additional Fees		 $	460 	
Total Annual Budget		 $ 28,041 	

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.

Viera East Community Development District
Capital Reserve Fund Proposed Budget FY 2025

	Adopted Budget	Actuals Thru	Projected Next	Total Projected	Proposed Budget	
	FY 2024	4/30/24	5 Months	@ 9/30/24	FY 2025	

Revenues						
Beginning Fund Balance	$1,570,109	$1,502,594	$0	$1,502,594	$1,430,029	
Interest Income	$500	$3,645	$2,604	$6,249	$500	
Reserve Funding - Transfer In (General)	$96,816	$96,816	$0	$96,816	$48,525	
Reserve Funding - Transfer In (Golf)	$140,691	$140,691	$0	$140,691	$71,329	
Reserve Funding - Transfer In (General Excess)	$0	$0	$6,300	$6,300	$0	
Reserve Funding - Transfer In (Golf Excess)	$0	$0	$0	$0	$0	
Total Revenues	$ 1,808,117	$ 1,743,747	$	8,903	$ 1,752,650	$  1,550,383	

Expenditures						
Capital Outlay	$100,000	$57,571	$265,000	$322,571	$100,000	
Truck Maintenance	$25,000	$0	$0	$0	$25,000	
Sign Project	$20,000	$0	$0	$0	$20,000	
Bank Fees	$0	$30	$20	$50	$0	
Total Expenditures	$	145,000	$	57,601	$	265,020	$	322,621	$	145,000	
						
Excess Revenues (Expenditures)	$ 1,663,117	$ 1,686,145	$  (256,117)	$ 1,430,029	$  1,405,383	

Potential Capital Reserve Split	
	
General Fund	Golf Course	Total	
Beginning Balance- 9/30/22	$	495,856  $	1,006,738  $	1,502,594	
Interest Income	$	-	$	-	$	6,249	
FY24 Contributions	$	96,816  $	140,691  $	237,508	
FY24 Gross Profit	$	-	$	-	$	-	
FY24 Projected Excess	$	6,300  $	-	$	6,300	
FY24 Expenses	$	-	$	(322,571)  $	(322,571)	
FY24 Bank Fees	 $	-	$	-	$	(50) 	
Projected Excess Revenue Fund End of FY24	$	598,972  $	824,858  $ 1,430,029	

Viera East Community Development District
Debt Service Fund Series 2020
Proposed Budget FY 2025

	Adopted Budget	Actual Thru	Projected Next	Total Projected	Adopted Budget	
	FY 2024	4/30/24	5 Months	9/30/24	FY 2025	

Revenues						
Special Assessments	$	655,615	$	631,568	$	24,047	$	655,615	$	655,615	
Interest Income	$	500	$	15,535	$	1,000	$	16,535	$	500	
Beginning Fund Balance	$	93,497	$	90,901	$	-	$	90,901	$	116,936	
Total Revenues	$	749,612	$	738,004	$	25,047	$	763,051	$	773,051	

Expenditures						
Series 2020 Interest-11/1	
$	85,558	
$	85,558	
$	-	
$	85,558	
$	80,658	
Principal- 5/1	$	475,000	$	-	$	475,000	$	475,000	$	500,000	
Interest-5/1	$	85,558	$	-	$	85,558	$	85,558	$	80,658	
Total Expenditures	$	646,115	$	85,558	$	560,558	$	646,115	$	661,315	
						
Excess Revenues (Expenditures)	$	103,497	$	652,447	$	(535,511)	$	116,936	$	111,736	

* Excess Revenues needed to pay the 11/1/25 Interest	
Payment				
$	75,658	

Land Use	
ERU	
Units	Total
ERU	
Percentage	Net
Per Unit	Net
Assessments	
Residental	1.00	4,204.0	4,204.00	84%	$	130.57	$	548,913.70	
Commercial	4.00	204.3	817.20	16%	$	522.28	$	106,701.30	
Net Annual Assessment		4,408.30	5,021.20			$  655,615.00	

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	$	1,992,585	$	8,927,410	

Viera East Community Development District
Restaurant- Hook and Eagle Proposed Operating Budget Fiscal Year 2025

Actual	Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Proposed
Budget	
	FY 2023	FY 2024	4/30/24	5 Months	@ 9/30/24	FY 2025	

Revenues							
Food Sales	$365,261	$334,093	$268,730	$191,950	$460,680	$404,923	
Snack Sales	$8,802	$10,000	$5,010	$3,579	$8,588	$11,000	
Beverage Sales	$5,964	$31,005	$32,054	$22,896	$54,950	$34,106	
Beer Sales	$164,815	$179,140	$88,249	$63,035	$151,284	$197,054	
Wine Sales	$47,856	$12,402	$3,677	$2,627	$6,304	$13,642	
Liquor Sales	$114,465	$92,220	$82,769	$59,121	$141,890	$101,442	
Miscellaneous Income	$0	$0	$493	$0	$493	$0	
Total Revenues	$  707,164	$	658,860	$	480,983	$	343,207	$	824,190	$	762,167	

Restaurant Expenditures							
Restaurant Manager Contract	$65,000	$65,000	$10,833	$0	$10,833	$0	
Salaries	$189,450	$183,610	$172,132	$122,951	$295,083	$320,250	
Administrative Fee	$7,403	$8,034	$3,872	$2,766	$6,638	$7,956	
FICA Expense	$23,702	$15,217	$19,701	$14,072	$33,772	$29,041	
Health Insurance	$10,003	$8,813	$8,583	$6,131	$14,714	$14,000	
Workers Compensation	$2,920	$2,336	$2,759	$1,971	$4,730	$7,300	
Unemployment	$6,373	$5,750	$4,250	$3,036	$7,285	$6,882	
Telephone	$4,392	$5,250	$3,190	$2,279	$5,469	$5,250	
Utilities	$11,617	$10,000	$6,067	$4,334	$10,401	$11,000	
Pest Control	$1,218	$1,200	$666	$476	$1,141	$1,200	
Merchant Fees	$25,901	$27,500	$14,439	$10,314	$24,753	$27,500	
Equipment Lease	$1,677	$1,500	$545	$389	$934	$1,500	
Kitchen Equipment/Supplies	$2,333	$3,000	$3,395	$2,425	$5,820	$3,000	
Paper & Plastic Supplies	$13,445	$10,000	$9,823	$7,017	$16,840	$15,000	
Operating Supplies	$19,874	$25,000	$9,340	$6,672	$16,012	$20,000	
First Aid	$0	$500	$0	$0	$0	$0	
Entertainment	$17,150	$14,400	$0	$0	$0	$0	
Delivery/Gas	$7,054	$6,000	$3,917	$2,798	$6,714	$7,000	
Dues & License	$9,751	$5,000	$8,349	$3,007	$11,356	$11,500	
Total Restaurant Expenditures	$  419,262	$	398,110	$	281,863	$	190,636	$	472,499	$	488,379	

Cost of Goods Sold
Food Cost	

$156,429	

$132,750	

$111,713	

$93,783	

$205,497	

$139,388	
Snack Cost	$2,899	$5,000	$1,978	$1,413	$3,391	$5,250	
Beverage Cost	$70,607	$16,000	$17,764	$12,688	$30,452	$16,800	
Beer Cost	$20,669	$71,000	$32,364	$23,117	$55,481	$74,550	
Wine Cost	$4,400	$5,000	$2,913	$2,081	$4,995	$5,250	
Liquor Cost	$42,513	$31,000	$30,261	$21,615	$51,876	$32,550	
Total Cost of Goods Sold	$  297,517	$	260,750	$	196,993	$	154,698	$	351,691	$	273,788	
							
Total Revenues	$  707,164	$	658,860	$	480,983	$	343,207	$	824,190	$	762,167	
							
Total Expenditures	$  716,779	$	658,860	$	478,856	$	345,334	$	824,190	$	762,167	
							
Operating Income (Loss)	$	(9,615)	$	-	$	2,127	$	(2,127)	$	-	$	-	

Non Operating Revenues/(Expenditures)
Interfund Transfer Out- Golf Course	

$0	

$0	

$0	

$0	

$0	

$0	
Interfund Transfer In- Golf Course	$0	$0	$0	$0	$0	$0	
Total Non Operating  Revenues/(Expenditures)	$	-	$	-	$	-	$	-	$	-	$	-	
							
Net Non Operating Income / (Loss)	$	(9,615)	$	-	$	2,127	$	(2,127)	$	-	$	-	

15

Revenues:

Food
Represents all food sales for Hook and Eagle Tavern. Also includes all catering and banquet sales.

Wine
Represents all wine sales for Hook and Eagle Tavern. Also includes all catering and banquet sales.

Beer
Represents all beer sales for Hook and Eagle Tavern. Also includes all catering and banquet sales.

Beverage
Represents all non-alcoholic beverage sales for Hook and Eagle Tavern. Also includes all catering and banquet sales.

Liquor
Represents all liquor sales for Hook and Eagle Tavern. Also includes all catering and banquet sales.

Expenditures:

Restaurant Manager Contract
Estimated cost for a full time restaurant manager at Hook and Eagle Tavern.

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 7% 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 $18 per employee.

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
The District has internet and TV services through Charter Communications for Hook & Eagle Tavern.

Vendor	Monthly Amount	Annual Amount	
Charter Communications	$	421	$	5,052	
Contengincy		 $	198 	
Total		 $	5,250 	

Utilities
The District has accounts with City of Cocoa and FPL for utilities in Hook & Eagle Tavern.

Vendor	
Account	Monthly Amount	Annual Amount	
FPL	03449-33189	$	700	$	8,400	
City of Cocoa	150351-112664	$	200	$	2,400	
Contingency			 $	200 	
Total			 $ 11,000 	

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

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

Equipment Lease
The estimated cost to Ecolab for the dish machine rental.

Vendor	Monthly Amount	Annual Amount	
Gordan Food Services	$	83	$	996	
Contingency		 $	504 	
Total		 $	1,500 	

Kitchen Equipment/Supplies
Represents various operating supplies purchased such as thermometers, silverware, microwave, storage cabinets, etc.

Paper & Plastic Supplies
Represents various operating supplies purchased such as paper towels, plastic utensils, paper plates, etc.

Operating supplies
Represents various operating supplies purchased

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

Delivery/Gas
The District has an account with Florida City Gas for natural gas for Hook & Eagle Tavern. Also includes any fuel surcharges for deliveries to the restaurant.

Vendor

Account

Monthly
Amount

Annual
Amount

Florida City Gas	83490-45156	$

400

$	4,800

Contingency- Delivery Fees
Total

 $	2,200 
 $	7,000 

Dues and License
Represents the cost of all restaurant operating licenses through DPBR.

COGS:

Food
Represents food supplies purchased for the restaurant or catering events.

Snack
Represents snacks purchased for the restaurant.

Beer
Represents beer purchased for the restaurant.

Wine
Represents wine purchased for the restaurant.

Liquor
Represents liquor purchased for the restaurant.

Other Sources and Uses:

Transfer In- Golf Course
Represents the Golf Course’s obligated amount to transfer to Food & Beverage should there be a shortfall in the operating account.

	
Actual	Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Proposed
Budget	
	FY 2023	FY 2024	4/30/24	5 Months	@ 9/30/24	FY 2025	
Revenues							
Greens Fees	$1,860,246	$1,863,778	$1,280,678	$568,987	$1,849,666	$1,956,967	
Gift Cards- Sales	$24,009	$25,750	$11,033	$3,052	$14,085	$26,523	
Gift Cards- Usage	($17,611)	($25,750)	($8,794)	($5,842)	($14,635)	($26,523)	
Season Advance/Trail Fees	$133,929	$150,000	$76,965	$46,338	$123,303	$150,000	
Associate Memberships	$24,474	$42,000	$16,959	$6,146	$23,105	$42,000	
Driving Range	$98,941	$82,400	$57,476	$35,863	$93,339	$84,872	
Golf Lessons	$4,040	$2,163	$5,120	$1,655	$6,775	$2,228	
Merchandise Sales	$127,097	$118,450	$85,271	$47,106	$132,377	$122,004	
Assessments -Recreation Operating	$18,232	$18,239	$10,639	$7,597	$18,236	$18,239	
Miscellaneous Income	$45,693	$15,000	$1,180	$287	$1,467	$15,000	
Total Revenues	$	2,319,050	$ 2,292,030	$ 1,536,528	$  711,190	$ 2,247,718	$ 2,391,310	

General Expenditures							
Other Contractual Services	$19,356	$20,000	$6,186	$4,419	$10,605	$20,000	
Telephone	$2,567	$2,500	$2,763	$1,691	$4,454	$4,058	
Utilities	$4,321	$5,400	$2,375	$1,696	$4,071	$5,400	
Repairs & Maintenance	$15,960	$15,000	$3,306	$2,362	$5,668	$15,000	
Marketing- Golf Marketing	$18,140	$0	$0	$0	$0	$0	
Bank Charges	$51,138	$45,000	$38,241	$27,315	$65,556	$55,000	
Office Supplies	$4,248	$4,500	$1,087	$777	$1,864	$4,500	
Operating Supplies	$2,223	$4,000	$5,066	$2,500	$7,566	$5,000	
Dues, Licenses & Subscriptions	$3,187	$9,500	$7,058	$5,041	$12,099	$12,000	
Drug Testing- All departments	$0	$500	$0	$0	$0	$500	
Training, Education & Employee Relations	$3,429	$9,000	$600	$429	$1,029	$9,000	
Contractual Security	$8,757	$4,000	$2,094	$1,496	$3,590	$4,000	
IT Services	$6,072	$3,000	$1,332	$951	$2,283	$3,000	
Total Golf Course Expenditures	$	139,397	$	122,400	$	70,109	$	48,676	$	118,785	$	137,458	

Golf Operations:							
Salaries	$272,961	$306,020	$177,253	$126,609	$303,862	$309,750	
Administrative Fee	$13,161	$12,876	$7,976	$5,697	$13,673	$16,848	
FICA Expense	$21,380	$22,509	$14,226	$10,161	$24,387	$26,671	
Health Insurance	$13,899	$12,632	$4,373	$3,123	$7,496	$10,500	
Workers Compensation	$4,280	$5,890	$2,493	$1,781	$4,274	$7,077	
Unemployment	$7,008	$10,828	$4,742	$3,387	$8,128	$10,935	
Golf Printing	$0	$2,500	$902	$645	$1,547	$2,500	
Utilities	$21,146	$22,500	$11,330	$8,093	$19,422	$22,500	
Repairs	$4,089	$1,000	$523	$373	$896	$1,000	
Pest Control	$1,062	$1,300	$666	$476	$1,141	$1,300	
Supplies	$13,950	$12,000	$12,225	$5,000	$17,225	$15,000	
Uniforms	$0	$1,500	$0	$0	$0	$0	
Training, Education & Employee Relations	$0	$9,000	$0	$0	$0	$9,000	
Cart Lease	$85,823	$87,000	$61,902	$56,332	$118,233	$135,196	
Cart Maintenance	$726	$5,000	$3,484	$1,500	$4,984	$5,000	
Driving Range	$3,772	$10,000	$5,227	$3,733	$8,960	$10,000	
Total Golf Operation Expenditures	$	463,257	$	522,555	$  307,321	$  226,910	$	534,231	$	583,277	

	
Actual	Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Proposed
Budget	
	FY 2023	FY 2024	4/30/24	5 Months	@ 9/30/24	FY 2025	
Merchandise Sales:							
Cost of Goods Sold	$117,168	$90,000	$65,140	$46,529	$111,669	$90,000	
Total Merchandise Sales	$	117,168	$	90,000	$	65,140	$	46,529	$	111,669	$	90,000	

Golf Course Maintenance:
Salaries	

$438,213	

$466,847	

$  249,203	

$178,002	

$427,204	

$474,149	
Administrative Fees	$5,906	$5,368	$	3,048	$2,177	$5,224	$6,616	
FICA Expense	$34,631	$37,693	$	20,006	$14,290	$34,296	$43,881	
Employee Insurance	$28,064	$38,695	$	22,205	$15,860	$38,065	$38,513	
Workers Compensation	$7,165	$9,328	$	4,108	$2,934	$7,042	$10,462	
Unemployment	$4,180	$7,160	$	3,329	$2,378	$5,707	$6,418	
Utilities/Water	$30,176	$30,000	$	16,963	$12,116	$29,079	$30,000	
Repairs	$60,488	$48,000	$	26,520	$18,943	$45,464	$48,000	
Restaurant Repairs	$10,378	$7,500	$	6,475	$3,500	$9,975	$10,000	
Fuel & Oil	$41,399	$40,000	$	17,419	$12,442	$29,862	$40,000	
Pest Control	$1,985	$1,800	$	1,140	$814	$1,955	$2,000	
Irrigation/Drainage	$11,504	$20,000	$	6,888	$4,920	$11,808	$20,000	
Sand and Topsoil	$13,157	$26,500	$	7,030	$5,021	$12,051	$26,500	
Flower/Mulch	$7,676	$7,000	$	1,592	$1,137	$2,729	$7,000	
Fertilizer	$148,876	$175,000	$	94,785	$67,704	$162,489	$175,000	
Seed/Sod	$3,868	$10,000	$	-	$2,500	$2,500	$10,000	
Trash Removal	$2,556	$3,000	$	1,316	$940	$2,257	$3,000	
Contingency	$16,325	$7,500	$	6,376	$0	$6,376	$7,500	
First Aid	$500	$800	$	63	$45	$107	$800	
Operating Supplies	$16,537	$20,000	$	5,403	$3,859	$9,262	$20,000	
Training	$6,358	$9,000	$	1,432	$1,023	$2,454	$9,000	
Janitorial Supplies	$353	$1,000	$	161	$115	$275	$1,000	
Janitorial Services	$19,671	$20,000	$	18,775	$13,411	$32,186	$32,988	
Soil & Water Testing	$0	$1,000	$	-	$500	$500	$1,000	
Uniforms	$10,692	$10,000	$	5,357	$3,826	$9,183	$10,000	
Equipment Rental	$4,635	$2,000	$	237	$170	$407	$2,000	
Equipment Lease	$176,668	$187,550	$  124,617	$89,012	$213,629	$216,000	
Total Golf Course Maintenance	$	1,101,960	$ 1,192,741	$  644,448	$  457,640	$ 1,102,088	$ 1,251,827	

Administrative Expenditures:
Legal Fees	

$2,266	

$1,500	

$0	

$750	

$750	

$1,500	
Engineering	$500	$0	$0	$0	$0	$0	
Arbitrage	$1,000	$600	$350	$250	$600	$600	
Dissemination	$4,089	$1,000	$583	$417	$1,000	$1,050	
Trustee Fees	$1,500	$4,100	$2,390	$1,707	$4,097	$4,100	
Annual Audit	$56,280	$5,000	$2,917	$2,083	$5,000	$5,000	
Golf Course Administrative Services	$101,385	$56,280	$32,830	$23,450	$56,280	$56,280	
Insurance	$12,497	$133,663	$86,002	$61,430	$147,432	$161,889	
Property Taxes	$0	$15,000	$5,138	$3,670	$8,808	$15,000	
Total Administrative Expenditures	$	179,516	$	217,143	$  130,210	$	93,757	$	223,967	$	245,419	

Reserves:
Renewal & Replacement	

$252,806	

$140,691	

$140,691	

$0	

$140,691	

$71,329	
Total Reserves	$	252,806	$	140,691	$  140,691	$	-	$	140,691	$	71,329	
							
Total Revenues	$	2,319,050	$ 2,292,030	$ 1,536,528	$  711,190	$ 2,247,718	$ 2,391,310	
							
Total Expenditures	$	2,254,105	$ 2,285,530	$ 1,357,919	$  873,512	$ 2,231,431	$ 2,379,310	
							
Operating Income (Loss)	$	64,945	$	6,500	$  178,609	$ (162,322)	$	16,287	$	12,000	

	
Actual	Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Proposed
Budget	
	FY 2023	FY 2024	4/30/24	5 Months	@ 9/30/24	FY 2025	

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

$579,178	

$560,250	

$343,697	

$343,697	

$687,394	

$560,250	
Interest Income	$9,374	$1,000	$9,022	$5,000	$14,022	$1,000	
Reserve Funding- Transfer Out (PY Excess)	$0	$0	$0	$0	$0	$0	
Interfund Transfer In- Restaurant	$0	$0	$0	$0	$0	$0	
Recreation Fees	$82,530	$0	$0	$0	$0	$0	
Interest Expense	($101,250)	($77,750)	($45,354)	($45,354)	($90,708)	($53,250)	
Principal Expense	($470,000)	($490,000)	($285,833)	($285,833)	($571,667)	($520,000)	
Total Non Operating  Revenues/(Expenditures)	$	99,831	$	(6,500)	$	21,531	$	17,510	$	39,041	$	(12,000)	
							
Net Non Operating Income / (Loss)	$	164,777	$	-	$  200,140	$ (144,813)	$	55,327	$	-	

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.

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	
Charter (Cable & Internet)	$	781	$  9,373	
Waste Management (Dumpster Removal)	$	701	$  8,411	
Great America Financial	$	120	$  1,444	
Apple Storage	$	12	$	146	
Amazon Prime	$	15	$	182	
Contingency		 $	444 	
Total Annual Budget		 $ 20,000 	

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

Vendor	Monthly Amount	Annual Amount	
Cricket	$	300	$	3,600	
Contengincy		 $	458 	
Total		 $	4,058 	

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.

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	$	5,000	
Brevard County	Business Tax License	$	82	
Club Caddie	Membership	$	6,180	
Contingency		 $	388 	
Total		 $ 12,000 	

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.

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 7% 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 $14 per employee.

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	$	800	$	9,600	
FPL	07938-52104	$	1,200	$ 14,400	
City of Cocoa	150351-112664	$	130	$	1,560	
Contingency			 $	4,440 	
Total			 $ 30,000 	

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.

Vendor	Monthly Amount	Annual Amount	
Ecolab Pest Elimination	$	95	$	1,141	
Contingency		 $	159 	
Total		 $	1,300 	

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.

Vendor	Monthly Amount	Annual Amount	
The Huntington National	$	355	$	4,260	
Yamaha	$	127	$	1,524	
Golf Cart	$ 10,784	 $ 129,412 	
Total		  $ 135,196 	

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 7% 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 $18 per employee.

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

United Healthcare		591637	Health, Accidental Death, Dental, Vision, Life, and Long Term Disability 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.

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

Vendor	
Account	Monthly Amount	Annual Amount	
FPL	83490-45156	$	2,000	$ 24,000	
City of Cocoa	313093-70192	$	422	$	5,064	
Contingency			 $	936 	
Total			 $ 30,000 	

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.

Vendor	Monthly Amount	Annual Amount	
Ecolab Pest Elimination	$	160	$	1,920	
Contingency		 $	80 	
Total		 $	2,000 	

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.

Turf Nutrition Program
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:

Vendor	Monthly Amount	Annual Amount	
Waste Management, Inc.	$	213	$	2,556	
Contingency		 $	444 	
Total		 $	3,000 	

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	$	800	$	9,600	
Contingency		 $	400 	
Total		 $	10,000 	

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:

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.

Description

Annual Amount

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
Property

$	27,536
$	134,352

Property Taxes

Total

 $ 161,888 

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	$	4,464,400