Adopted Budget
Fiscal Year 2022

Reserve      Community Development District

June 22, 2021

Reserve
Community Development District

Water/Sewer Fund

Adopted Budget
 	FY2021	

Actual thru
 	4/30/2021	

Projected Next
 	5 Months	

Total Projected at
 	9/30/2021	

Adopted Budget
 	FY2022	

 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

$543,031
$500,405
$14,537
$1,498
$3,300
$22,901

$310,303
$285,946
$10,384
$1,070
$2,357
$0

$853,334
$786,351
$24,921
$2,568
$5,657
$22,901

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

TOTAL REVENUES

 	$1,634,500 

 	$1,085,672 

 	$610,060 

 	$1,695,732 

 	$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

$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

$4,000
$306
$5,000
$1,261
$6,975
$3,852
$17,500
$625
$50
$827
$316
$500
$14,400
$1,500
$2,191
$417
$75
$0

$10,000
$765
$5,000
$1,892
$6,975
$3,852
$42,000
$1,500
$50
$1,986
$759
$1,200
$34,561
$1,500
$5,259
$1,000
$180
$175

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

$6,000
$459
$0
$631
$0
$0
$24,500
$875
$0
$1,158
$443
$700
$20,160
$0
$3,068
$583
$105
$175

TOTAL ADMINISTRATIVE

 	$138,373 

 	$58,857 

 	$59,796 

 	$118,652 

 	$140,873 

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

$166,867
$12,765
$6,511
$4,500
$97,850
$10,000
$1,800
$19,200
$42,000
$633,000
$35,000
$6,100
$4,000
$40,000
$28,000
$5,000
$4,500

$35,000
$4,076
$0
$0
$40,083
$4,924
$845
$2,588
$15,212
$307,673
$7,935
$2,514
$746
$7,022
$13,903
$0
$2,500

$109,591
$9,782
$5,893
$1,001
$96,199
$11,817
$2,028
$6,211
$36,509
$738,415
$19,044
$6,033
$1,792
$16,854
$33,368
$0
$2,612

$130,513
$9,984
$6,511
$0
$102,800
$10,000
$1,200
$19,200
$42,000
$633,000
$35,000
$6,100
$4,000
$40,000
$28,000
$5,000
$4,500

$74,591
$5,706
$5,893
$1,001
$56,116
$6,893
$1,183
$3,623
$21,297
$430,742
$11,109
$3,519
$1,045
$9,831
$19,464
$0
$112

TOTAL FIELD

 	$1,117,093 

 	$652,127 

 	$445,021 

 	$1,097,148 

 	$1,077,808 

TOTAL EXPENSES

 	$1,255,466 

$710,983

$504,817

$1,215,800

$1,218,681

OPERATING INCOME

 	$379,034 

$374,689

$105,243

$479,932

$415,819

Page 1

Debt Service Coverage %	182%	231%	199%

Reserve
Community Development District

Water/Sewer Fund

Adopted Budget
 	FY2021	

Actual thru
 	4/30/2021	

Projected Next
 	5 Months	

Total Projected at
 	9/30/2021	

Adopted Budget
 	FY2022	

 Description	

NON-OPERATING INCOME/(EXPENSE)

Renewal & Replacement

$0

($471)

($5,000)

($5,471)

$0

TOTAL NON-OPERATING

 	$0 

 	($471)

 	($5,000)

 	($5,471)

 	$0 

DEBT SERVICE

Series 2013 Principal Expense Interest Expense

$170,000
$38,021

$99,167
$22,179

$70,833
$15,842

$170,000
$38,021

$175,000
$33,712

TOTAL DEBT SERVICE

 	$208,021 

 	$121,345 

 	$86,676 

 	$208,021 

 	$208,712 

EXCESS REVENUES (EXPENSES)

 	$171,013 

 	$252,872 

 	$13,568 

 	$266,440 

 	$207,107 

Page 2

Reserve
Community Development District

Series 2013, Utility Revenue Refunding Bonds
Amortization  Schedule

PRINCIPAL
 	BALANCE	

 	DATE	

     RATE	

 	INTEREST	

 	PRINCIPAL	

 	TOTAL	

1-Apr-19
1-Oct-19
1-Apr-20
1-Oct-20
1-Apr-21
1-Oct-21

$
$
$
$
$
$

1,835,000
1,835,000
1,670,000
1,670,000
1,500,000
1,500,000

2.500%
2.500%
2.500%
2.500%
2.500%
2.500%

$23,192.36
$23,319.79
$21,222.92
$21,222.92
$18,958.33
$19,062.50

$0.00
$165,000.00
$0.00
$170,000.00
$0.00
$170,000.00

$211,512.15

$212,445.84

$208,020.83

1-Apr-23
1-Oct-23
1-Apr-24
1-Oct-24
1-Apr-25
1-Oct-25
1-Apr-26
1-Oct-26
1-Apr-27
1-Oct-27
1-Apr-28
1-Oct-28

$
$
$
$
$
$
$
$
$
$
$
$

1,155,000
1,155,000
975,000
975,000
790,000
790,000
600,000
600,000
405,000
405,000
205,000
205,000

2.500%
2.500%
2.500%
2.500%
2.500%
2.500%
2.500%
2.500%
2.500%
2.500%
2.500%
2.500%

$14,597.92
$14,678.13
$12,390.63
$12,390.63
$9,984.72
$10,039.58
$7,583.33
$7,625.00
$5,118.75
$5,146.88
$2,605.21
$2,605.21

$0.00
$180,000.00
$0.00
$185,000.00
$0.00
$190,000.00
$0.00
$195,000.00
$0.00
$200,000.00
$0.00
$205,000.00

$209,276.05

$209,781.26

$210,024.30

$210,208.33

$210,265.63

$210,210.42

 	$265,456.61

 	$1,835,000.00

 	$2,100,456.61

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

Page 3

1-Apr-22	$	1,330,000	2.500%	$16,809.72	$0.00
1-Oct-22	$	1,330,000	2.500%	$16,902.08	$175,000.00	$208,711.80

RESERVE
Community Development District

Water & Sewer Fund Budget
Fiscal Year 2022

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.

Page 4

RESERVE
Community Development District

Water & Sewer Fund Budget
Fiscal Year 2022

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.

Page 5

RESERVE
Community Development District

Water & Sewer Fund Budget
Fiscal Year 2022

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. Adjustment from the FY2020 actuals:

The FY2021 amounts include a 3% Cost of Living

Description Operator I Operator II
Overtime/Extra Pay/Contingencies

Amount
$58,713
$46,800
$25,000

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 District Consultant Contingency

Amount
$72,800
$24,000
$ 6,000
$102,800

$2,800 per pay period
$2,000 per month*12

Total

Telephone

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

Description Comcast/Phone/Fax/Internet Verizon
R. Riniolo Cell Reimb
T. Perkins Cell Reimb Contingency

Amount
$3,120
$   720
$1,200
$1,200
$3,260
$9,500

$260 avg/month
$60 avg/month
$100 avg/month
$100 avg/month

Total

Answering Service

The District has contracted with A Personal Answering Service to handle the off-hours calls. The rate averages $100 per month.

Postage

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

Page 6

RESERVE
Community Development District

Water & Sewer Fund Budget
Fiscal Year 2022

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
18601-58268
20545-80333
23613-27766
23843-26761
28708-21028
38178-27003
38208-21092
38258-26013
48958-26008
52582-41529
65271-37274
72514-30166
88950-40098
94346-01549
98516-72221

9710 Reserve Blvd # LS Plantation Lakes Dr # Lift Station 7 9491 Brandywine Ln #LS
2160 NW Reserve Park Trace Commerce Lakes D #LS S-3 Club House Dr - LS
5860 Legends Dr # LS
9541 Legends Dr # Lift Station 7855 Legends Dr # LS Legends Dr # Lift Sta S1 T-8 1916 Perfect Drive LS
8350 Mulligan Rd # Lift 8795 Champions Way # Lift
0857 Links Way # Lift Station 202 Dogleg Dr #Lift Station
8501 NW Commerce Center Dr Lift Station Contingency
Total

$
$
$

15.47
81.81
15.83

$
$
$

182
974
190

$2,314.00

$27,767

$
$
$
$
$
$
$
$
$
$
$
$

12.19
30.88
30.69
26.28
50.61
98.42
56.31
104.73
44.86
56.31
60.11
53.90

$
$
$
$
$
$
$
$
$
$
$
$
$

146
371
368
315
60
1,181
676
1,257
538
676
721
647
5,931

     $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.

Page 7

RESERVE
Community Development District

Water & Sewer Fund Budget
Fiscal Year 2022

PLANT AND FIELD OPERATIONS: (continued)

Operating Supplies

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

Description General Supplies Oil/Gas
Misc.

Amount
$ 27,500
$  4,500
$  8,000

Total

$ 40,000

Chemicals

Represents the following chemicals necessary to the utility plant:

Description Lime Hydrated Chlorine Gas Ammonia
Calsiquest/Polymer Contingency

Amount
$ 6,475
$ 3,788
$ 1,550
$ 1,187
$15,000

Total

$28,000

Dues, Licenses

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

In addition, the District

Page 8