Fontainbleau Lakes Community Development District

Final Budget For Fiscal Year 2017/2018
October 1, 2017 - September 30, 2018

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
FONTAINBLEAU LAKES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2017/2018
OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	
FISCAL YEAR 2017/2018 BUDGET	
Administrative Assessments	82,159	
Maintenance Assessments	317,744	
Debt Assessments	463,915	
Other Revenues	0	
Interest Income	420	
TOTAL REVENUES	$	864,238	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
Engineering/Annual Report/Inspections	6,600	
Lake Tract Aquatic Maintenance (Includes Parcel 1)	12,600	
Landscaping Service/Pest Control/Fertilizer	85,280	
Mulch (Tree Rings & Shrubbery Beds)	8,400	
Irrigation Systems Maintenance (North & South)	12,600	
Tree & Shrubbery Replacement (North & South)	9,000	
Community Lighting Upkeep (North & South)	15,600	
FP&L - Power - Street Lighting (North & South)	36,000	
FP&L - Power - Irrigation Pump Stations (N & S)	3,600	
Park Maintenance - Upkeep	7,200	
Roadways & Street Maintenance (North & South)	7,200	
Fountain Maintenance (Tract A)	3,000	
Misc. Electrical Improvements (North & South)	4,200	
Entrance/Exit Gate Maintenance/Repairs (N & S)	9,000	
Electrical Outlets Maintenance (North & South)	1,800	
Traffic Calming Devices Maintenance	3,600	
Open Space Misc MTE - Tracts P,Q,W,X,Y,Z	4,800	
Hurricane Preparedness/Miscellaneous	9,000	
Lift Station Maintenance (North & South)	36,000	
Lift Stations Power - FPL (North & South)	7,800	
Miscellaneous Improvements (North & South)	4,000	
Maintenance Contingency	15,000	
TOTAL MAINTENANCE EXPENDITURES	$	302,280	
		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	3,000	
Payroll Taxes (Employer)	230	
Management	25,644	
Secretarial & Field Operations	5,600	
Legal	14,000	
Assessment Roll	10,000	
Audit Fees	3,200	
Arbitrage Rebate Fee	650	
Insurance	7,200	
Legal Advertisements	750	
Miscellaneous	2,000	
Postage	550	
Office Supplies	850	
Dues & Subscriptions	175	
Trustee Fee	3,000	
Continuing Disclosure Fee	500	
Website Management	1,500	
TOTAL ADMINISTRATIVE EXPENDITURES	$	78,849	
		
TOTAL EXPENDITURES	$	381,129	
		
REVENUES LESS EXPENDITURES	$	483,109	
		
Bond Payments	(436,080)	
		
BALANCE	$	47,029	
		
County Appraiser & Tax Collector Fee	(17,276)	
Discounts For Early Payments	(34,553)	
		
EXCESS/ (SHORTFALL)	$	(4,800)	
		
Carryover From Prior Year	4,800	
		
NET EXCESS/ (SHORTFALL)	$	-	

6/8/2017 1:39 PM	I

DETAILED FINAL BUDGET
FONTAINBLEAU LAKES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2017/2018
OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	
FISCAL YEAR 2015/2016 ACTUAL	
FISCAL YEAR 2016/2017 BUDGET	
FISCAL YEAR 2017/2018 BUDGET	

COMMENTS	
Administrative Assessments	60,365	62,950	82,159	Expenditures Less Interest & 25% Of Carryover/.94	
Maintenance Assessments	253,700	246,962	317,744	Expenditures Less & 75% Of Carryover/.94	
Debt Assessments	575,085	574,043	463,915	Bond Payments/.94	
Other Revenues	3,672	0	0		
Interest Income	683	360	420	Interest Estimated At $35 Per Month	
TOTAL REVENUES	$	893,505	$	884,315	$	864,238		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
Engineering/Annual Report/Inspections	3,015	3,000	6,600	$3,600 Increase From 2016/2017 Budget	
Lake Tract Aquatic Maintenance (Includes Parcel 1)	10,120	11,000	12,600	$1,600 Increase From 2016/2017 Budget	
Landscaping Service/Pest Control/Fertilizer	78,056	82,000	85,280	$3,280 Increase From 2016/2017 Budget	
Mulch (Tree Rings & Shrubbery Beds)	0	8,750	8,400	$350 Decrease From 2016/2017 Budget	
Irrigation Systems Maintenance (North & South)	6,571	14,000	12,600	$1,400 Decrease From 2016/2017 Budget	
Tree & Shrubbery Replacement (North & South)	9,397	7,200	9,000	$1,800 Increase From 2016/2017 Budget	
Community Lighting Upkeep (North & South)	7,187	15,000	15,600	$600 Increase From 2016/2017 Budget	
FP&L - Power - Street Lighting (North & South)	30,104	36,000	36,000	No Change From 2016/2017 Budget	
FP&L - Power - Irrigation Pump Stations (N & S)	922	4,800	3,600	$1,200 Decrease From 2016/2017 Budget	
Park Maintenance - Upkeep	0	7,800	7,200	$600 Decrease From 2016/2017 Budget	
Roadways & Street Maintenance (North & South)	6,575	7,800	7,200	$600 Decrease From 2016/2017 Budget	
Fountain Maintenance (Tract A)	2,895	1,500	3,000	$1,500 Increase From 2016/2017 Budget	
Misc. Electrical Improvements (North & South)	0	7,500	4,200	$3,300 Decrease From 2016/2017 Budget	
Entrance/Exit Gate Maintenance/Repairs (N & S)	765	10,000	9,000	$1,000 Decrease From 2016/2017 Budget	
Engineering Traffic Study - Las Ramblas	6,495	0	0	Fiscal Year 2015/2016 Expenditure	
Electrical Outlets Maintenance (North & South)	7,385	1,800	1,800	No Change From 2016/2017 Budget	
Traffic Calming Devices Maintenance	5,085	3,000	3,600	$600 Increase From 2016/2017 Budget	
Miscellaneous Engineering Special Projects	0	6,000	0	Line Item Eliminated	
Open Space Misc MTE - Tracts P,Q,W,X,Y,Z	0	4,800	4,800	No Change From 2016/2017 Budget	
Hurricane Preparedness/Miscellaneous	13,350	7,200	9,000	$1,800 Increase From 2016/2017 Budget	
Lift Station Maintenance (North & South)	20,605	20,000	36,000	$16,000 Increase From 2016/2017 Budget	
Lift Stations Power - FPL (North & South)	0	0	7,800	Lift Stations Power - FPL (North & South)	
Miscellaneous Improvements (North & South)	0	3,400	4,000	$600 Increase From 2016/2017 Budget	
Maintenance Contingency	3,788	22,095	15,000	$7,095 Decrease From 2016/2017 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	212,315	$	284,645	$	302,280		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	2,100	3,000	3,000	Supervisor Fees	
Payroll Taxes (Employer)	161	230	230	Supervisor Fees * 7.65%	
Management	24,960	25,128	25,644	CPI Adjustment	
Secretarial & Field Operations	5,200	5,200	5,600	$400 Increase From 2016/2017 Budget	
Legal	10,970	14,000	14,000	No Change From 2016/2017 Budget	
Assessment Roll	10,000	10,000	10,000	As Per Contract	
Audit Fees	3,000	3,100	3,200	Accepted Amount For 2016/2017 Audit	
Arbitrage Rebate Fee	650	650	650	No Change From 2016/2017 Budget	
Insurance	5,923	7,200	7,200	No Change From 2016/2017 Budget	
Legal Advertisements	616	750	750	No Change From 2016/2017 Budget	
Miscellaneous	1,926	1,200	2,000	$800 Increase From 2016/2017 Budget	
Postage	212	550	550	No Change From 2016/2017 Budget	
Office Supplies	650	850	850	No Change From 2016/2017 Budget	
Dues & Subscriptions	175	175	175	No Change From 2016/2017 Budget	
Trustee Fee	3,000	3,000	3,000	No Change From 2016/2017 Budget	
Continuing Disclosure Fee	500	500	500	No Change From 2016/2017 Budget	
Website Management	1,500	1,500	1,500	No Change From 2016/2017 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	71,543	$	77,033	$	78,849		
					
TOTAL EXPENDITURES	$	283,858	$	361,678	$	381,129		
					
REVENUES LESS EXPENDITURES	$	609,647	$	522,637	$	483,109		
					
Bond Payments	(550,672)	(539,600)	(436,080)	2018 P & I Payments Less Earned Interest	
					
BALANCE	$	58,975	$	(16,963)	$	47,029		
					
County Appraiser & Tax Collector Fee	(8,601)	(17,679)	(17,276)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(29,018)	(35,358)	(34,553)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	21,356	$	(70,000)	$	(4,800)		
					
Carryover From Prior Year	0	70,000	4,800	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	21,356	$	-	$	-		

6/8/2017 1:39 PM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET
FONTAINBLEAU LAKES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2017/2018
OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	FISCAL YEAR 2015/2016 ACTUAL	FISCAL YEAR 2016/2017 BUDGET	FISCAL YEAR 2017/2018 BUDGET	

COMMENTS	

Interest Income	84	100	0	
Projected Interest For 2017/2018	

NAV Tax Collection	
550,672	
539,600	
436,080	
Maximum Debt Service Collection	

Total Revenues	
$	550,756	
$	539,700	
$	436,080		

EXPENDITURES					

Principal Payments	
140,000	
150,000	
215,000	
Principal Payment Due In 2018	

Interest Payments	
402,600	
389,700	
215,669	
Interest Payments Due In 2018	

Bond Redemption	
0	
0	
5,411	
Estimated Excess Debt Collections	

Total Expenditures	
$	542,600	
$	539,700	
$	436,080		

Excess/ (Shortfall)	
$	8,156	
$	-	
$	-		

     Series 2016 Bond Refunding Information	
Original Par Amount =	$6,430,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	2.00% - 4.125%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	October 2016			
Maturity Date =	May 2038			

6/8/2017 1:39 PM	III

Fontainbleau Lakes Community Development District Assessment Comparison

	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
	2014/2015	2015/2016	2016/2017	2017/2018	
	Assessment	Assessment	Assessment	Projected Assessment	
	Before Discount*	Before Discount*	Before Discount*	Before Discount*	
Administrative Assessment For Single Family	$	160.97	$	142.01	$	155.43	$	202.86	
Maintenance Assessment For Single Family	$	491.07	$	624.25	$	610.60	$	784.55	
Debt Assessment For Single Family	$	1,518.08	$	1,518.08	$	1,518.08	$	1,224.05	
Total	$	2,170.12	$	2,284.34	$	2,284.11	$	2,211.46	
Administrative Assessment For Townhomes	$	160.97	$	142.01	$	155.43	$	202.86	
Maintenance Assessment For Townhomes	$	491.07	$	624.25	$	610.60	$	784.55	
Debt Assessment For Townhomes	$	1,319.14	$	1,319.14	$	1,319.14	$	1,064.39	
Total	$	1,971.18	$	2,085.40	$	2,085.17	$	2,051.80	
Administrative Assessment For Courtyards	$	160.97	$	142.01	$	155.43	$	202.86	
Maintenance Assessment For Courtyards	$	491.07	$	632.90	$	607.22	$	784.55	
Debt Assessment For Courtyards	$	1,187.23	$	1,187.23	$	1,187.23	$	957.95	
Total	$	1,839.27	$	1,962.14	$	1,949.88	$	1,945.36	

* Assessments Include the Following :		
4% Discount for Early Payments 1% County Tax Collector Fee
1% County Property Appraiser Fee		
Community Information:		
Single Family Units (Las Ramblas)	271	
Townhomes (Las Ramblas)	36	
Courtyards (Las Sevillas)	98	
Total Units	405	

6/8/2017  1:39 PM	IV