Fontainbleau Lakes Community Development District

Final Budget For Fiscal Year 2020/2021
October 1, 2020 - September 30, 2021

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
FONTAINBLEAU LAKES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2020/2021 BUDGET	
Administrative Assessments	87,460	
Maintenance Assessments	352,925	
Debt Assessments	463,915	
Other Revenues	0	
Interest Income	720	
TOTAL REVENUES	$	905,020	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
Engineering/Annual Report/Inspections	4,000	
Lake Tract Aquatic Maintenance (Includes Parcel 1)	14,000	
Landscaping Service/Pest Control/Fertilizer	90,000	
Storm Related Landscaping	0	
Mulch (Tree Rings & Shrubbery Beds)	9,000	
Irrigation Systems Maintenance (North & South)	10,000	
Tree & Shrubbery Replacement (North & South)	12,000	
Community Lighting Upkeep (North & South)	24,000	
FP&L - Power - Street Lighting (North & South)	31,000	
FP&L - Power - Irrigation Pump Stations (N & S)	3,000	
FP&L - Power - Lift Stations (North & South)	5,000	
Park Maintenance - Upkeep	6,000	
Roadways & Street Maintenance (North & South)	9,000	
Fountain Maintenance (Tract A)	3,000	
Misc. Electrical Improvements (North & South)	0	
Entrance/Exit Gate Maintenance/Repairs (N & S)	4,000	
Electrical Outlets Maintenance (North & South)	0	
Traffic Calming Devices Maintenance	0	
Open Space Misc MTE - Tracts P,Q,W,X,Y,Z	4,000	
Hurricane Preparedness/Miscellaneous	20,000	
Lift Station Maintenance (North & South)	25,000	
Miscellaneous Improvements (North & South)	32,000	
Solar Lighting Maintenance	0	
Maintenance Contingency	26,750	
TOTAL MAINTENANCE EXPENDITURES	$	331,750	
		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	3,000	
Payroll Taxes (Employer)	230	
Management	28,752	
Secretarial & Field Operations	6,300	
Legal	13,000	
Assessment Roll	10,000	
Audit Fees	3,300	
Arbitrage Rebate Fee	650	
Insurance	7,500	
Legal Advertisements	800	
Miscellaneous	2,500	
Postage	600	
Office Supplies	825	
Dues & Subscriptions	175	
Trustee Fee	3,200	
Continuing Disclosure Fee	350	
Website Management	1,750	
TOTAL ADMINISTRATIVE EXPENDITURES	$	82,932	
		
TOTAL EXPENDITURES	$	414,682	
		
REVENUES LESS EXPENDITURES	$	490,338	
		
Bond Payments	(436,080)	
		
BALANCE	$	54,258	
		
County Appraiser & Tax Collector Fee	(18,086)	
Discounts For Early Payments	(36,172)	
		
EXCESS/ (SHORTFALL)	$	-	
		
Carryover From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

7/9/2020  5:10 PM	I

DETAILED FINAL BUDGET
FONTAINBLEAU LAKES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2018/2019 ACTUAL	
FISCAL YEAR 2019/2020 BUDGET	
FISCAL YEAR 2020/2021 BUDGET	

COMMENTS	
Administrative Assessments	74,220	73,966	87,460	Expenditures Less Interest & 25% Of Carryover/.94	
Maintenance Assessments	328,227	325,918	352,925	Expenditures Less 75% Of Carryover/.94	
Debt Assessments	463,915	463,915	463,915	Bond Payments/.94	
Other Revenues	40,837	0	0		
Interest Income	1,160	480	720	Interest Estimated At $60 Per Month	
TOTAL REVENUES	$	908,359	$	864,279	$	905,020		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
Engineering/Annual Report/Inspections	2,500	5,500	4,000	$1,500 Decrease From 2019/2020 Budget	
Lake Tract Aquatic Maintenance (Includes Parcel 1)	13,674	13,200	14,000	$800 Increase From 2019/2020 Budget	
Landscaping Service/Pest Control/Fertilizer	82,033	88,000	90,000	$2,000 Increase From 2019/2020 Budget	
Storm Related Landscaping	0	30,000	0	Line Item Eliminated	
Mulch (Tree Rings & Shrubbery Beds)	1,495	9,800	9,000	$800 Decrease From 2019/2020 Budget	
Irrigation Systems Maintenance (North & South)	2,418	11,000	10,000	$1,000 Decrease From 2019/2020 Budget	
Tree & Shrubbery Replacement (North & South)	13,385	10,000	12,000	$2,000 Increase From 2019/2020 Budget	
Community Lighting Upkeep (North & South)	8,491	16,000	24,000	$8,000 Increase From 2019/2020 Budget	
FP&L - Power - Street Lighting (North & South)	30,751	36,000	31,000	$5,000 Decrease From 2019/2020 Budget	
FP&L - Power - Irrigation Pump Stations (N & S)	1,096	3,000	3,000	No Change From 2019/2020 Budget	
FP&L - Power - Lift Stations (North & South)	2,696	7,800	5,000	$2,800 Decrease From 2019/2020 Budget	
Park Maintenance - Upkeep	0	5,800	6,000	$200 Increase From 2019/2020 Budget	
Roadways & Street Maintenance (North & South)	9,132	7,500	9,000	$1,500 Increase From 2019/2020 Budget	
Fountain Maintenance (Tract A)	2,720	3,000	3,000	No Change From 2019/2020 Budget	
Misc. Electrical Improvements (North & South)	850	0	0	Fiscal Year 2018/2019 Expenditure	
Entrance/Exit Gate Maintenance/Repairs (N & S)	5,290	4,000	4,000	No Change From 2019/2020 Budget	
Electrical Outlets Maintenance (North & South)	0	1,800	0	Line Item Eliminated	
Traffic Calming Devices Maintenance	0	3,600	0	Line Item Eliminated	
Open Space Misc MTE - Tracts P,Q,W,X,Y,Z	2,950	3,800	4,000	$200 Increase From 2019/2020 Budget	
Hurricane Preparedness/Miscellaneous	0	10,000	20,000	$10,000 Increase From 2019/2020 Budget	
Lift Station Maintenance (North & South)	18,854	34,000	25,000	$9,000 Decrease From 2019/2020 Budget	
Miscellaneous Improvements (North & South)	2,963	10,000	32,000	$22,000 Increase From 2019/2020 Budget	
Solar Lighting Maintenance	26,468	16,000	0	Line Item Eliminated	
Maintenance Contingency	24,786	15,000	26,750	$11,750 Increase From 2019/2020 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	252,552	$	344,800	$	331,750		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	1,200	3,000	3,000	Supervisor Fees	
Payroll Taxes (Employer)	92	230	230	Supervisor Fees * 7.65%	
Management	27,600	28,116	28,752	CPI Adjustment	
Secretarial & Field Operations	6,000	6,300	6,300	No Change From 2019/2020 Budget	
Legal	10,179	13,000	13,000	No Change From 2019/2020 Budget	
Assessment Roll	10,000	10,000	10,000	As Per Contract	
Audit Fees	3,200	3,200	3,300	$100 Increase From 2019/2020 Budget	
Arbitrage Rebate Fee	650	650	650	No Change From 2019/2020 Budget	
Insurance	5,848	7,800	7,500	Insurance Estimate	
Legal Advertisements	694	800	800	No Change From 2019/2020 Budget	
Miscellaneous	1,602	2,750	2,500	$250 Decrease From 2019/2020 Budget	
Postage	433	600	600	No Change From 2019/2020 Budget	
Office Supplies	699	850	825	$25 Decrease From 2019/2020 Budget	
Dues & Subscriptions	175	175	175	No Change From 2019/2020 Budget	
Trustee Fee	3,250	3,250	3,200	No Change From 2019/2020 Budget	
Continuing Disclosure Fee	350	350	350	No Change From 2019/2020 Budget	
Website Management	1,500	1,750	1,750	No Change From 2019/2020 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	73,472	$	82,821	$	82,932		
					
TOTAL EXPENDITURES	$	326,024	$	427,621	$	414,682		
					
REVENUES LESS EXPENDITURES	$	582,335	$	436,658	$	490,338		
					
Bond Payments	(443,657)	(436,080)	(436,080)	2021 P & I Payments Less Earned Interest	
					
BALANCE	$	138,678	$	578	$	54,258		
					
County Appraiser & Tax Collector Fee	(8,363)	(17,276)	(18,086)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(29,375)	(34,552)	(36,172)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	100,940	$	(51,250)	$	-		
					
Carryover From Prior Year	0	51,250	0	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	100,940	$	-	$	-		

7/9/2020 5:10 PM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET
FONTAINBLEAU LAKES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2018/2019 ACTUAL	FISCAL YEAR 2019/2020 BUDGET	FISCAL YEAR 2020/2021 BUDGET	

COMMENTS	

Interest Income	11,639	100	200	
Projected Interest For 2020/2021	

NAV Tax Collection	
443,657	
436,080	
436,080	
Maximum Debt Service Collection	

Total Revenues	
$	455,296	
$	436,180	
$	436,280		

EXPENDITURES					

Principal Payments	
220,000	
225,000	
230,000	
Principal Payment Due In 2021	

Interest Payments	
213,519	
206,869	
202,319	
Interest Payments Due In 2021	

Bond Redemption	
0	
4,311	
3,961	
Estimated Excess Debt Collections	

Total Expenditures	
$	433,519	
$	436,180	
$	436,280		

Excess/ (Shortfall)	
$	21,777	
$	-	
$	-		

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 1/1/20 =	May 2038

$5,790,000			

7/9/2020 5:10 PM	III

Fontainbleau Lakes Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2017/2018	2018/2019	2019/2020	2020/2021	
Assessment	Assessment	Assessment	Projected Assessment	
Before Discount*	Before Discount*	Before Discount*	Before Discount*	

Administrative Assessment For Single Family	
$	
202.86	
$	
176.96	
$	
182.64	
$	
215.95	
Maintenance Assessment For Single Family	$	784.55	$	810.44	$	804.74	$	871.43	
Debt Assessment For Single Family	$	1,224.05	$	1,224.05	$	1,224.05	$	1,224.05	
Total	$	2,211.46	$	2,211.45	$	2,211.43	$	2,311.43	
Administrative Assessment For Townhomes	$	202.86	$	176.96	$	182.64	$	215.95	
Maintenance Assessment For Townhomes	$	784.55	$	810.44	$	804.74	$	871.43	
Debt Assessment For Townhomes	$	1,064.39	$	1,064.39	$	1,064.39	$	1,064.39	
Total	$	2,051.80	$	2,051.79	$	2,051.77	$	2,151.77	
Administrative Assessment For Courtyards	$	202.86	$	176.96	$	182.64	$	215.95	
Maintenance Assessment For Courtyards	$	784.55	$	810.44	$	804.74	$	871.43	
Debt Assessment For Courtyards	$	957.95	$	957.95	$	957.95	$	957.95	
Total	$	1,945.36	$	1,945.35	$	1,945.33	$	2,045.33	

* 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	

7/9/2020  5:10 PM	IV