Adopted Budget	
Fiscal Year 2021	

Reserve	
Community Development District	

July 14, 2020

Adopted	
Budget	
 	FY2020		

Actual	
thru	
 	5/31/2020		

Projected	
Next	
 	4 Months		

Total	
Projected at	
 	9/30/2020		

Adopted	
Budget	
 	FY2021		

 Description	

REVENUES:	
Water Revenue	
Sewer Revenue	
Misc. Income	
Interest Income	
Rental Income	
Connection Fees	

$820,000
$795,000
$8,500
$5,000
$6,000
$0

$586,918	$293,459	
$559,023	$279,512	
$12,743	$6,372	
$12,899	$6,450	
$4,200	$2,100	
$40,519	$0	

	
$880,377	$820,000	
$838,535	$795,000	
$19,115	$8,500	
$19,349	$5,000	
$6,300	$6,000	
$40,519	$0	

			

TOTAL REVENUES  		$1,634,500 	

 	$1,216,302	 	$587,892	 	$1,804,194	 	$1,634,500 

EXPENSES:

Administrative:	
Supervisors Fees	
FICA Expense	
Engineering	
Attorneys Fees	
Annual Audit	
Trustee Fees	
Management Fees	
Computer Time	
Telephone	
Postage	
Printing & Binding	
Rentals & Leases	
Insurance	
Legal Advertising	
Bank Charges	
Website Compliance	
Office Supplies	
Dues, Licenses	

$7,000		$4,000	
$536		$306	
$0		$5,000	
$1,599		$1,142	
$6,975		$0	
$0		$3,853	
$28,000		$14,000	
$1,000		$500	
$0		$50	
$1,351		$676	
$452		$226	
$800		$400	
$21,260		$10,630	
($114)		$500	
$3,195		$1,598	
$667		$334	
$127		$64	
$175		$0	
 	$73,023 		 	$43,277 	

$11,000	
$842	
$5,000	
$2,741	
$6,975	
$3,853	
$42,000	
$1,500	
$50	
$2,027	
$678	
$1,200	
$31,890	
$386	
$4,793	
$1,001	
$191	
$175	

$10,000	
$765	
$15,000	
$5,000	
$6,975	
$4,000	
$42,000	
$1,500	
$150	
$1,500	
$1,200	
$1,200	
$40,908	
$2,000	
$4,500	
$1,000	
$500	
$175	

$10,000
$765
$15,000
$5,000
$6,975
$3,502
$42,000
$1,500
$150
$1,500
$1,200
$1,200
$34,025
$2,000
$4,500
$1,000
$500

TOTAL ADMINISTRATIVE  		$130,992 	

$175

TOTAL EXPENSES OPERATING INCOM

$168,827	$105,297	$52,649

Plant and Field Operations:	
Salaries/Benefits	
FICA	
Workers Comp Insurance	
Health Insurance	
Consulting Services	
Telephone	
Answering Service	
Postage	
Electric	
Bulk Water/Sewer Purchase	
Repairs & Maintenance	
Condo Expenses	
Office Supplies	
Operating Supplies	
Chemicals	
Filter Media	
Dues & Licenses	

$12,915	$8,055	$4,028
$7,502	$5,919	$0
$4,500	$2,670	$1,335
$97,850	$62,332	$31,166
$9,500	$7,230	$3,615
$1,500	$1,125	$563
$18,000	$11,200	$5,600
$42,000	$22,618	$11,309
$583,000	$373,580	$186,790
$35,000	$20,156	$10,078
$6,100	$3,708	$1,854
$4,000	$1,082	$541
$40,000	$29,177	$14,589
$28,000	$21,621	$10,811
$5,000	$0	$5,000

TOTAL FIELD:	 	$1,068,194 	
	 	$1,199,186 	
		
E	 	$435,314 	

 	$675,770 		 	$342,426 	
$748,793		$385,703	
			
$467,509		$202,189	

$4,500	$0	$2,500

	

	

 	$116,300	 	$138,373 

$157,946	$166,867	
$12,083	$12,765	
$5,919	$6,511	
$4,005	$4,500	
$93,498	$97,850	
$10,845	$10,000	
$1,688	$1,800	
$16,800	$19,200	
$33,927	$42,000	
$560,370	$633,000	
$30,234	$35,000	
$5,562	$6,100	
$1,623	$4,000	
$43,766	$40,000	
$32,432	$28,000	
$5,000	$5,000	
$2,500	$4,500	
	
 	$1,018,196	 	$1,117,093 

$1,134,496	$1,255,466

$669,698	$379,034

Debt Service Coverage %

205%

315%

182%

Adopted	
Budget	
 	FY2020		

Actual	
thru	
 	5/31/2020		

Projected	
Next	
 	4 Months		

Total	
Projected at	
 	9/30/2020		

Adopted	
Budget	
 	FY2021		

 Description	

Non-Operating Income/(Expenses)	
Sabal Creek Interlocal	
Trans from R&R Account	
Renewal & Replacement	

$0	$186,000	$0	$186,000	$0	
$0	$0	($131,151)	($131,151)	$0	
$0	$131,151	$0	$131,151	$0	

TOTAL NON-OPERATING:  		$0 	

 	$317,151 	 	($131,151)	 		$186,000  	 		$0 	

Debt Service

Series 2013	
Principal Expense	
Interest Expense	

$170,000	
$42,446	

$170,000	
$38,021	

$170,000	$113,333	$56,667
$42,446	$28,297	$14,149

		

TOTAL DEBT SERVICE:  		$212,446 	

 	$141,630  	 		$70,816 	

 	$212,446	 	$208,021 

EXCESS REVENUES (EXPENSES)	 	$222,868	 	$643,030	 	$222	 	$643,252	 	$171,013 

Series 2013, Utility Revenue Refunding Bonds	
Amortization Schedule	

Community Development District

PRINCIPAL	
 	BALANCE		

 	DATE		 RATE		 	INTEREST		 	PRINCIPAL		 	TOTAL	

1-Apr-19	$	1,835,000	2.500%	$	23,192.36	$	-	
1-Oct-19	$	1,835,000	2.500%	$	23,319.79	$	165,000.00	$	211,512.15	
1-Apr-20	$	1,670,000	2.500%	$	21,222.92	$	-	
1-Oct-20	$	1,670,000	2.500%	$	21,222.92	$	170,000.00	$	212,445.84	
1-Apr-21	$	1,500,000	2.500%	$	18,958.33	$	-	
1-Oct-21	$	1,500,000	2.500%	$	19,062.50	$	170,000.00	$	208,020.83	
1-Apr-22	$	1,330,000	2.500%	$	16,809.72	$	-	
1-Oct-22	$	1,330,000	2.500%	$	16,902.08	$	175,000.00	$	208,711.80	
1-Apr-23	$	1,155,000	2.500%	$	14,597.92	$	-	
1-Oct-23	$	1,155,000	2.500%	$	14,678.13	$	180,000.00	$	209,276.05	
1-Apr-24	$	975,000	2.500%	$	12,390.63	$	-	
1-Oct-24	$	975,000	2.500%	$	12,390.63	$	185,000.00	$	209,781.26	
1-Apr-25	$	790,000	2.500%	$	9,984.72	$	-	
1-Oct-25	$	790,000	2.500%	$	10,039.58	$	190,000.00	$	210,024.30	
1-Apr-26	$	600,000	2.500%	$	7,583.33	$	-	
1-Oct-26	$	600,000	2.500%	$	7,625.00	$	195,000.00	$	210,208.33	
1-Apr-27	$	405,000	2.500%	$	5,118.75	$	-	
1-Oct-27	$	405,000	2.500%	$	5,146.88	$	200,000.00	$	210,265.63	
1-Apr-28	$	205,000	2.500%	$	2,605.21	$	-	
1-Oct-28	$	205,000	2.500%	$	2,605.21	$	205,000.00	$	210,210.42	

		

  $	265,456.61 

  $	1,835,000.00 

  $	2,100,456.61 

**Revised for special call on 10/1/2018.

REVENUES:

Water Revenue

The estimated amount that will be billed to users of the potable water system of the District based upon average monthly consumption, current utility rates in effect and projected number of users during the fiscal year.

Wastewater Revenue

The estimated amount that will be billed to users of the wastewater system of the District based upon average monthly consumption, current utility rates in effect and projected number of users during the fiscal year.

Miscellaneous Income

The District charges a 10% late penalty on delinquent monthly utility accounts up to a maximum of $2,160 per meter.

Rental Income

The District owns an office condo which will be used by other entities. A monthly rental fee will be charged for the use of the space.

Interest Income

The District invests its excess funds with the Florida State Board of Administration. Also includes interest earned on bond funds invested in Money Market account.

EXPENSES:

ADMINISTRATIVE:

Supervisor Fees/FICA Expense

The District anticipates 10 meetings per year with five board members in attendance and each receiving $200.00 per meeting plus payroll taxes.

Engineering Fees

The District currently has a contract with Kimley-Horn and Associates to provide engineering services. The contract includes the preparation of an engineering report, attendance of monthly board meetings, reviewing requisitions and invoices, etc.

Attorney

The District has a contract with Gonano & Harrell as legal counsel to the District. The contract includes general legal services, preparation and attendance of monthly meetings, agreement and contract review, etc.

Annual Audit

The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm. The District currently has a contract with Berger, Toombs, Elam, Gaines & Frank, CPAs.

Trustee Fee

The District issued Series 2013 Utility Revenue Refunding Bonds that are held by a trustee at U.S. Bank. The fee is based upon the current contract with U.S. Bank.

ADMINISTRATIVE: (continued) Management Fees
The following services are provided to the District by a Management contract with GMS-South Florida, LLC.	The services provided are further outlined in Exhibit of the contract.

Computer Time

The District processes the financial activities, i.e. accounts payable, financial statements, utility billing, etc. on a mainframe computer leased by GMS-South Florida, LLC.

Telephone

Telephone and fax machine, amount based on prior years’ cost.

Postage

Mailing of agenda packages, overnight deliveries, correspondence, etc., based on prior years cost.

Printing & Binding

Accounts Payable checks, stationery, envelopes, photocopies, etc.

Rental & Leases

The District will be charged $100.00 per month for office rent from GMS-South Florida, LLC where the District’s administrative offices are located.

Insurance

Egis Insurance & Risk Advisors, who specializes in providing local governments with insurance coverage currently, holds the District’s insurance policy. The District’s coverage includes General Liability, Workers’ Comp, Property, Plant and Automobile.

Legal Advertising

Represents cost associated with legal advertising requirements of the District for monthly meetings, public hearings, notice to bidders, etc.

Other Current Charges

Bank charges and any other miscellaneous expenses incurred during the year.

Website Compliance

Per Chapter 2014-22, Laws of Florida, all Districts must have a website to provide detailed information on the CDD as well as links to useful websites regarding Compliance issues. This website will be maintained by GMS-SF, LLC and updated monthly.

Office Supplies

Miscellaneous Office Supplies based on prior years’ cost.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Department of Economic Opportunity for $175.00.

PLANT AND FIELD OPERATIONS:

Personnel

The District currently has two employees to assist the District in the operations of its water and wastewater utility plant and part time help for monthly meter readings. This includes salary and FICA taxes. The FY2021 amounts include a 3% Cost of Living Adjustment from the FY2020 actuals:

Description	Amount
Plant Manager	$97,170
Operator	$58,713
Overtime/Extra Pay/Contingencies	$10,984

Worker’s Compensation Insurance

The District’s Worker’s Compensation Insurance Policy is with Egis Insurance & Risk Advisors. Based on last year’s amount, the projected amount for this Fiscal Year is $6,511.

Health Insurance

Represents a monthly reimbursement for Health Insurance coverage to employees.

Other Contractual

The District will contract the Lime Sludge hauling services related to the operations of the District’s water and wastewater utility system.

Consulting Services

The District will contract the following services related to the operations of the District’s water and Wastewater utility system, includes payroll and benefits:

Description
Utility Billing Manager	
$2,800 per pay period	Amount
$72,800	
District Consultant	$2,000 per month*12	$24,000	
Contingency		$ 1,050	

Telephone	Total	$97,850	
Telephone and fax machine, amount based on	prior years’ cost.		
Description Comcast/Phone/Fax/Internet	
$260 avg/month	Amount
$3,120	
Verizon	$60 avg/month	$ 720	
G. Morgan Cell Reimb	$100 avg/month	$1,200	
T. Perkins Cell Reimb	$100 avg/month	$1,200	
Contingency		$3,260	
	Total	$9,500	
Answering Service			

The District has contracted with B&B Answering Service to handle the off-hours calls. The rate is $125 per month.

Postage

The District currently contracts with Southwest Direct to print and mail the monthly Utility invoices to the customers.

PLANT AND FIELD OPERATIONS: (continued)

Electric

The District currently has the following utility accounts with Florida Power & light:

Account No.	Description	Monthly	Amount	
07958-53373	9710 Reserve Blvd # LS	$	15.47	$	182	
18601-58268	Plantation Lakes Dr # Lift Station 7	$	81.81	$	974	
20545-80333	9491 Brandywine Ln #LS	$	15.83	$	190	
23613-27766	2160 NW Reserve Park Trace	$2,314.00	$27,767	
23843-26761	Commerce Lakes D #LS S-3	$	12.19	$	146	
28708-21028	Club House Dr - LS	$	30.88	$	371	
38178-27003	5860 Legends Dr # LS	$	30.69	$	368	
38208-21092	9541 Legends Dr # Lift Station	$	26.28	$	315	
38258-26013	7855 Legends Dr # LS	$	50.61	$	60	
48958-26008	Legends Dr # Lift Sta S1 T-8	$	98.42	$ 1,181	
52582-41529	1916 Perfect Drive LS	$	56.31	$	676	
65271-37274	8350 Mulligan Rd # Lift	$ 104.73	$ 1,257	
72514-30166	8795 Champions Way # Lift	$	44.86	$	538	
88950-40098	0857 Links Way # Lift Station	$	56.31	$	676	
94346-01549	202 Dogleg Dr #Lift Station	$	60.11	$	721	
98516-72221	8501 NW Commerce Center Dr Lift Station	$	53.90	$	647	
	Contingency		$ 5,931	
Total	$42,000	

Bulk Water & Sewer

The  District  has  an  interconnect  agreement  with  the  St.  Lucie  West  Services  District  to  provide  bulk  potable  water   and bulk sewer. The District has reserved 500,000 gallons per day of water capacity and 360,000 per day of sewer capacity.  The amount budgeted includes a $724.10 monthly base charge and average usage of 310,000 GPD for water and 233,000 GPD for sewer.

Repairs & Maintenance

Represents any repairs and maintenance cost the District may incur. The amount for the Fiscal Year is based on historical costs.

Condo Expenses

This represents the costs associated with the office condo owned by the District. Expenses include Condo Fees, electric and cleaning costs.

Office Supplies

Any supplies needed for normal operations of the District Utility Billing office.

 	_ 	_ 	_ 	_ 	

PLANT AND FIELD OPERATIONS: (continued)

Operating Supplies

Purchase of supplies for the District. Amount based on the following items:

Description	Amount	
General Supplies	$ 27,500	
Oil/Gas	$ 4,500	
Misc.	$ 8,000	
Total

Chemicals	$ 40,000	

Represents the following chemicals necessary to the utility plant:

Description	Amount	
Lime Hydrated	$ 6,475	
Chlorine Gas	$ 3,788	
Ammonia	$ 1,550	
Calsiquest/Polymer	$ 1,187	
Contingency	$15,000	
Total	$28,000	

Dues, Licenses		

The Utility operates are required to have and keep current their Water/Wastewater Operators licenses. In addition, the District pays an Annual Drinking Water License to the Florida DEP.