Windward Community Development District

Adopted Budget
FY 2019

Table of Contents

1	 	General Fund

2-6	 	General Fund Narrative

Windward
Community Development District

Fiscal Year 2019 General Fund

	Adopted
Budget	Actual
Thru	Projected
Next 2	Total
Thru	Adopted
Budget	
Description	FY2018	7/31/18	Months	9/30/18	FY2019	

Revenues						
Assessments	$0	$0	$0	$0	$312,827	
Developer Contributions	$93,327	$126,502	$39,097	$165,599	$0	
Total Revenues	$93,327	$126,502	$39,097	$165,599	$312,827	

Expenditures						
Administrative						
Supervisors Fees	$4,800	$1,800	$2,000	$3,800	$4,800	
FICA Expense	$367	$138	$153	$291	$367	
Engineering	$12,000	$1,370	$1,630	$3,000	$12,000	
Attorney	$25,000	$5,345	$2,655	$8,000	$25,000	
Arbitrage	$0	$0	$0	$0	$450	
Dissemination	$0	$0	$0	$0	$3,500	
Annual Audit	$0	$0	$0	$0	$5,000	
Trustee Fees	$0	$0	$0	$0	$5,000	
Assessment Administration	$0	$0	$0	$0	$5,000	
Management Fees	$35,000	$29,167	$5,833	$35,000	$35,000	
Information Technology	$600	$500	$100	$600	$600	
Telephone	$300	$0	$25	$25	$300	
Postage	$1,000	$32	$18	$50	$1,000	
Travel Per Diem	$660	$267	$98	$365	$660	
Printing & Binding	$1,000	$220	$180	$400	$1,000	
Insurance	$5,800	$5,000	$0	$5,000	$5,500	
Legal Advertising	$5,000	$389	$861	$1,250	$2,500	
Other Current Charges	$1,000	$2	$23	$25	$1,000	
Office Supplies	$625	$83	$62	$145	$625	
Property Appraiser	$0	$0	$0	$0	$500	
Property Taxes	$0	$0	$0	$0	$250	
Dues, Licenses & Subscriptions	$175	$175	$0	$175	$175	
Administrative Expenses	$93,327	$44,488	$13,638	$58,126	$110,227	

Operation & Maintenance						
Field Services	$0	$0	$0	$0	$15,000	
Telephone	$0	$0	$0	$0	$3,500	
Electric	$0	$5,790	$5,370	$11,160	$26,000	
Water & Sewer	$0	$26,992	$13,508	$40,500	$58,000	
Security Building Maintenance	$0	$280	$0	$280	$10,000	
Landscape Maintenance	$0	$24,806	$9,500	$34,306	$48,000	
Landscape Contingency	$0	$16,671	$0	$16,671	$15,000	
Property Insurance	$0	$0	$0	$0	$6,000	
Fountain Maintenance	$0	$3,000	$650	$3,650	$4,200	
Lake Maintenance	$0	$0	$0	$0	$6,000	
Irrigation Repairs	$0	$351	$149	$500	$4,000	
Lighting Maintenance	$0	$0	$0	$0	$2,500	
Monument Maintenance	$0	$0	$0	$0	$1,400	
Roadway Maintenance	$0	$0	$0	$0	$1,500	
Contingency	$0	$407	$0	$407	$1,500	
Operation & Maintenance Expenses	$0	$78,296	$29,177	$107,473	$202,600	
						
Total Expenditures	$93,327	$122,784	$42,815	$165,599	$312,827	
						
Excess Revenues/(Expenditures)	$0	$3,719	($3,718)	$0	$0	
				
Net Assessment	
$312,827	
				Collection Cost (6%)	 	$19,968 	
				Gross Assessment	 	$332,795 	

Per Unit Projected O&M (530 Units) Per Unit Estimated Debt Gross
Total CDD Projected Annual Assessments	$627.91
$960.00	
	$1,587.91	

REVENUES:

Special Assessments

The District will levy a non-ad valorem assessment on all the assessable property within the District in order to pay for the operating expenditures during the fiscal year.

EXPENDITURES:

Administrative:

Supervisor Fees

Chapter 190, Florida Statutes, allows for each Board member to received $200 per meeting, not to exceed $4,800 per year paid to each Supervisor for the time devoted to District business and meetings. The District anticipates 12 meetings per year, with 2 Board members receiving payment for their attendance at each meeting.

FICA Expense

Represents the Employer’s share of Social Security and Medicare taxes withheld from the Board of Supervisor checks.

Engineering

The District's engineer, Poulos & Bennett, will be providing general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review of invoices and requisitions, preparation and review of contract specifications and bid documents, and various projects assigned as directed by the Board of Supervisors and the District Manager.

Attorney

The District's legal counsel, Latham, Shuker, Eden & Beaudine, LLP, will be providing general legal services to the District, e.g. attendance and preparation for monthly meetings, preparation and review of agreements and resolutions, and other research assigned as directed by the Board of Supervisors and the District Manager.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on any bonds issued. The District anticipates issuing 2018 bonds.

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 unrated bond issues.

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis.

Trustee Fees

The District will pay annual trustee fees for any bond issued. The District anticipates issuing 2018 bonds.

Assessment Administration

The District has contracted with Governmental Management Services-CF, LLC to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Management Fees

The District has contracted with Governmental Management Services-Central Florida, LLC to provide Management, Accounting and Recording Secretary Services for the District. The services include, but not limited to, recording and transcription of board meetings, budget preparation, all financial reporting, annual audit, etc.

Information Technology

Represents 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.

Telephone

Telephone and fax machine.

Postage

The District incurs charges for mailing of agenda packages, overnight deliveries, checks for vendors and other required correspondence.

Travel Per Diem

The Board of Supervisors can be reimbursed for travel expenditures related to the conducting of District business.

Printing & Binding

Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc.

Insurance

The District’s general liability and public officials liability insurance coverage is provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Legal Advertising

The District is required to advertise various notices for monthly Board meetings, public hearings, etc in a newspaper of general circulation.

Other Current Charges

Represents any miscellaneous expenses incurred during the fiscal year such as bank fees, deposit slips, stop payments, etc.

Office Supplies

The District incurs charges for office supplies that need to be purchased during the fiscal year.

Property Appraiser

Represents a fee charged by Osceola County Property Appraiser’s office for assessment administration services.

Property Taxes

Represents a fee charged by the Osceola County Tax Collector’s Office for all assessable property within the District.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Florida Department of Economic Opportunity for $175. This is the only expense under this category for the District.

Field:

Field Services

Provide onsite field management of contracts for the District such as landscape and lake maintenance. Services to include bimonthly onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Telephone

Represents estimated costs for telephone services to the guardhouse.

Electric

Represents estimated costs for electrical accounts with Duke Energy for entrance lighting, irrigation meters and other District areas.

Water & Sewer

Represents estimated costs for water & sewer services with Toho Water Authority for fountain, guardhouse, irrigation meters and other District areas.

Security Building Maintenance

Represents estimated costs for any repairs and maintenance to the guardhouse.

Landscape Maintenance

The District will maintain the landscaping within the common areas of the District after installation of landscape material has been completed. The District has contracted with Down to Earth Lawncare II, Inc. for this service.

Description	Monthly	Annual	
Landscape Maintenance	$3,167 Contingency - Future Areas
Total	$38,000
$10,000	
	$48,000	

Landscape Contingency

Represents estimated costs for any additional landscape expenses not covered under the monthly landscape maintenance contract.

Property Insurance

Represents estimated costs for the annual coverage of property insurance. Coverage will be provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Fountain Maintenance

The District will schedule the regularly cleaning and treatment of the fountain maintained by the District. The District will be contracting with Grunit Pool Contractors.

Description	Monthly	Annual	
Fountain Maintenance	$350
Total	$4,200	
	$4,200	

Lake Maintenance

Represents estimated costs for the maintenance of any ponds and lakes located within the District.

Irrigation Repairs

Represents estimated costs for any repairs to the irrigation system.

Lighting Maintenance

Represents estimated repair and maintenance cost to all lighting fixtures maintained by the District.

Monument Maintenance

Represents estimated costs for any repairs to monuments within the District.

Roadway Maintenance

Represents estimated costs for any sidewalk or roadway maintenance for areas maintained by the District.

Contingency

Represents any additional field expense that may not have been provided for in the budget.