Fontainbleau Lakes Community Development District

Final Budget For Fiscal Year 2018/2019
October 1, 2018 - September 30, 2019

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
FONTAINBLEAU LAKES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	
FISCAL YEAR 2018/2019 BUDGET	
Administrative Assessments	71,666	
Maintenance Assessments	328,227	
Debt Assessments	463,915	
Other Revenues	0	
Interest Income	420	
TOTAL REVENUES	$	864,228	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
Engineering/Annual Report/Inspections	6,600	
Lake Tract Aquatic Maintenance (Includes Parcel 1)	12,600	
Landscaping Service/Pest Control/Fertilizer	87,840	
Mulch (Tree Rings & Shrubbery Beds)	8,750	
Irrigation Systems Maintenance (North & South)	12,600	
Tree & Shrubbery Replacement (North & South)	10,000	
Community Lighting Upkeep (North & South)	15,000	
FP&L - Power - Street Lighting (North & South)	36,000	
FP&L - Power - Irrigation Pump Stations (N & S)	3,000	
Park Maintenance - Upkeep	6,200	
Roadways & Street Maintenance (North & South)	7,200	
Fountain Maintenance (Tract A)	3,000	
Misc. Electrical Improvements (North & South)	0	
Entrance/Exit Gate Maintenance/Repairs (N & S)	7,000	
Electrical Outlets Maintenance (North & South)	1,800	
Traffic Calming Devices Maintenance	3,600	
Miscellaneous Engineering Special Projects	0	
Open Space Misc MTE - Tracts P,Q,W,X,Y,Z	3,800	
Hurricane Preparedness/Miscellaneous	11,000	
Lift Station Maintenance (North & South)	34,000	
Lift Stations Power - FPL (North & South)	7,800	
Miscellaneous Improvements (North & South)	9,000	
Solar Lighting Pilot Project	50,000	
Maintenance Contingency	15,000	
TOTAL MAINTENANCE EXPENDITURES	$	351,790	
		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	3,000	
Payroll Taxes (Employer)	230	
Management	27,600	
Secretarial & Field Operations	6,000	
Legal	13,500	
Assessment Roll	10,000	
Audit Fees	3,200	
Arbitrage Rebate Fee	650	
Insurance	7,800	
Legal Advertisements	800	
Miscellaneous	2,500	
Postage	600	
Office Supplies	900	
Dues & Subscriptions	175	
Trustee Fee	3,250	
Continuing Disclosure Fee	500	
Website Management	1,500	
TOTAL ADMINISTRATIVE EXPENDITURES	$	82,205	
		
TOTAL EXPENDITURES	$	433,995	
		
REVENUES LESS EXPENDITURES	$	430,233	
		
Bond Payments	(436,080)	
		
BALANCE	$	(5,847)	
		
County Appraiser & Tax Collector Fee	(17,276)	
Discounts For Early Payments	(34,552)	
		
EXCESS/ (SHORTFALL)	$	(57,675)	
		
Carryover From Prior Year	57,675	
		
NET EXCESS/ (SHORTFALL)	$	-	

6/8/2018  3:21 PM	I

DETAILED FINAL BUDGET
FONTAINBLEAU LAKES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	
FISCAL YEAR 2016/2017 ACTUAL	
FISCAL YEAR 2017/2018 BUDGET	
FISCAL YEAR 2018/2019 BUDGET	

COMMENTS	
Administrative Assessments	65,797	82,159	71,666	Expenditures Less Interest & 25% Of Carryover/.94	
Maintenance Assessments	247,017	317,744	328,227	Expenditures Less & 75% Of Carryover/.94	
Debt Assessments	575,168	463,915	463,915	Bond Payments/.94	
Other Revenues	6,846	0	0		
Interest Income	632	420	420	Interest Estimated At $35 Per Month	
TOTAL REVENUES	$	895,460	$	864,238	$	864,228		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
Engineering/Annual Report/Inspections	3,053	6,600	6,600	No Change From 2017/2018 Budget	
Lake Tract Aquatic Maintenance (Includes Parcel 1)	11,992	12,600	12,600	No Change From 2017/2018 Budget	
Landscaping Service/Pest Control/Fertilizer	71,826	85,280	87,840	$2,200 Increase From 2017/2018 Budget	
Mulch (Tree Rings & Shrubbery Beds)	4,641	8,400	8,750	$350 Increase From 2017/2018 Budget	
Irrigation Systems Maintenance (North & South)	7,516	12,600	12,600	No Change From 2017/2018 Budget	
Tree & Shrubbery Replacement (North & South)	14,145	9,000	10,000	$1,000 Increase From 2017/2018 Budget	
Community Lighting Upkeep (North & South)	14,967	15,600	15,000	$600 Decrease From 2017/2018 Budget	
FP&L - Power - Street Lighting (North & South)	31,739	36,000	36,000	No Change From 2017/2018 Budget	
FP&L - Power - Irrigation Pump Stations (N & S)	384	3,600	3,000	$600 Decrease From 2017/2018 Budget	
Park Maintenance - Upkeep	0	7,200	6,200	$1,000 Decrease From 2017/2018 Budget	
Roadways & Street Maintenance (North & South)	5,768	7,200	7,200	No Change From 2017/2018 Budget	
Fountain Maintenance (Tract A)	1,375	3,000	3,000	No Change From 2017/2018 Budget	
Misc. Electrical Improvements (North & South)	8,250	4,200	0	Line Item Eliminated	
Entrance/Exit Gate Maintenance/Repairs (N & S)	9,345	9,000	7,000	$2,000 Decrease From 2017/2018 Budget	
Electrical Outlets Maintenance (North & South)	7,610	1,800	1,800	No Change From 2017/2018 Budget	
Traffic Calming Devices Maintenance	0	3,600	3,600	No Change From 2017/2018 Budget	
Miscellaneous Engineering Special Projects	5,200	0	0	Line Item Eliminated	
Open Space Misc MTE - Tracts P,Q,W,X,Y,Z	115	4,800	3,800	$1,000 Decrease From 2017/2018 Budget	
Hurricane Preparedness/Miscellaneous	2,534	9,000	11,000	$2,000 Increase From 2017/2018 Budget	
Lift Station Maintenance (North & South)	94,147	36,000	34,000	$2,000 Decrease From 2017/2018 Budget	
Lift Stations Power - FPL (North & South)	0	7,800	7,800	No Change From 2017/2018 Budget	
Miscellaneous Improvements (North & South)	3,730	4,000	9,000	$5,000 Increase From 2017/2018 Budget	
Solar Lighting Pilot Project	0	0	50,000	Solar Lighting Pilot Project	
Maintenance Contingency	15,582	15,000	15,000	No Change From 2017/2018 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	313,919	$	302,280	$	351,790		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	1,400	3,000	3,000	Supervisor Fees	
Payroll Taxes (Employer)	107	230	230	Supervisor Fees * 7.65%	
Management	25,128	25,644	27,600	CPI Adjustments	
Secretarial & Field Operations	5,200	5,600	6,000	$400 Increase From 2017/2018 Budget	
Legal	9,179	14,000	13,500	$500 Decrease From 2017/2018 Budget	
Assessment Roll	10,000	10,000	10,000	As Per Contract	
Audit Fees	3,100	3,200	3,200	Accepted Amount For 2017/2018 Audit	
Arbitrage Rebate Fee	650	650	650	No Change From 2017/2018 Budget	
Insurance	6,042	7,200	7,800	Insurance Estimate	
Legal Advertisements	792	750	800	$50 Increase From 2017/2018 Budget	
Miscellaneous	1,959	2,000	2,500	$500 Increase From 2017/2018 Budget	
Postage	569	550	600	$50 Increase From 2017/2018 Budget	
Office Supplies	993	850	900	$50 Increase From 2017/2018 Budget	
Dues & Subscriptions	175	175	175	No Change From 2017/2018 Budget	
Trustee Fee	3,250	3,000	3,250	$250 Increase From 2017/2018 Budget	
Continuing Disclosure Fee	500	500	500	No Change From 2017/2018 Budget	
Website Management	1,500	1,500	1,500	No Change From 2017/2018 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	70,544	$	78,849	$	82,205		
					
TOTAL EXPENDITURES	$	384,463	$	381,129	$	433,995		
					
REVENUES LESS EXPENDITURES	$	510,997	$	483,109	$	430,233		
					
Bond Payments	(551,173)	(436,080)	(436,080)	2019 P & I Payments Less Earned Interest	
					
BALANCE	$	(40,176)	$	47,029	$	(5,847)		
					
County Appraiser & Tax Collector Fee	(8,595)	(17,276)	(17,276)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(28,326)	(34,553)	(34,552)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	(77,097)	$	(4,800)	$	(57,675)		
					
Carryover From Prior Year	0	4,800	57,675	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	(77,097)	$	-	$	-		

6/8/2018 3:21 PM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET
FONTAINBLEAU LAKES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	FISCAL YEAR 2016/2017 ACTUAL	FISCAL YEAR 2017/2018 BUDGET	FISCAL YEAR 2018/2019 BUDGET	

COMMENTS	

Interest Income	16,304	0	0	
Projected Interest For 2018/2019	

NAV Tax Collection	
551,173	
436,080	
436,080	
Maximum Debt Service Collection	

Total Revenues	
$	567,477	
$	436,080	
$	436,080		

EXPENDITURES					

Principal Payments	
205,000	
215,000	
220,000	
Principal Payment Due In 2019	

Interest Payments	
315,457	
215,669	
211,319	
Interest Payments Due In 2019	

Bond Redemption	
0	
5,411	
4,761	
Estimated Excess Debt Collections	

Total Expenditures	
$	520,457	
$	436,080	
$	436,080		

Excess/ (Shortfall)	
$	47,020	
$	-	
$	-		

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 =

Par Amount As Of 1/1/18 =	May 2038

$6,225,000			

6/8/2018 3:21 PM	III

Fontainbleau Lakes Community Development District Assessment Comparison

	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
	2015/2016	2016/2017	2017/2018	2018/2019	
	Assessment	Assessment	Projected Assessment	Projected Assessment	
	Before Discount*	Before Discount*	Before Discount*	Before Discount*	
Administrative Assessment For Single Family	$	142.01	$	155.43	$	202.86	$	176.96	
Maintenance Assessment For Single Family	$	624.25	$	610.60	$	784.55	$	810.44	
Debt Assessment For Single Family	$	1,518.08	$	1,518.08	$	1,224.05	$	1,224.05	
Total	$	2,284.34	$	2,284.11	$	2,211.46	$	2,211.45	
Administrative Assessment For Townhomes	$	142.01	$	155.43	$	202.86	$	176.96	
Maintenance Assessment For Townhomes	$	624.25	$	610.60	$	784.55	$	810.44	
Debt Assessment For Townhomes	$	1,319.14	$	1,319.14	$	1,064.39	$	1,064.39	
Total	$	2,085.40	$	2,085.17	$	2,051.80	$	2,051.79	
Administrative Assessment For Courtyards	$	142.01	$	155.43	$	202.86	$	176.96	
Maintenance Assessment For Courtyards	$	632.90	$	607.22	$	784.55	$	810.44	
Debt Assessment For Courtyards	$	1,187.23	$	1,187.23	$	957.95	$	957.95	
Total	$	1,962.14	$	1,949.88	$	1,945.36	$	1,945.35	

* 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	

6/8/2018  3:21 PM	IV