Sandmine Road
Community Development District

Adopted Budget
FY2022

Table of Contents

1-2

3-6

7

8
 	General Fund

 	General Fund Narrative

 	Series 2020 Debt Service Fund

 	Series 2020 Amortization Schedule

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
	Description	FY2021	6/30/21	3 Months	9/30/21	FY2022	

Revenues							
Assessments - Tax Roll	$	-	$	-	$	-	$	-	$	95,926					
Assessments - Direct Bill	$	-	$	-	$	-	$	-	$	64,419					
Developer Contributions	$	104,218	$	62,386	$	55,005	$	117,391	$	59,346					
Total Revenues	$    104,218	$	62,386	$	55,005	$	117,391	$	219,691					

Expenditures							
General & Administrative							
Supervisor Fees	$	12,000	$	-	$	3,000	$	3,000	$	12,000		
FICA Expense	$	918	$	-	$	230	$	230	$	918		
Engineering	$	12,000	$	1,768	$	10,233	$	12,000	$	12,000		
Attorney	$	25,000	$	9,987	$	6,971	$	16,958	$	25,000		
Annual Audit	$	3,500	$	3,175	$	-	$	3,175	$	5,000		
Arbitrage Fees	$	-	$	-	$	500	$	500	$	1,000		
Dissemination Fees	$	-	$	2,625	$	875	$	3,500	$	7,000		
Trustee Fees	$	-	$	-	$	3,550	$	3,550	$	7,000		
Management Fees	$	35,000	$	26,250	$	8,750	$	35,000	$	36,050		
Information Technology	$	800	$	540	$	260	$	800	$	1,000		
Website Maintenance	$	400	$	360	$	40	$	400	$	500		
Telephone	$	300	$	-	$	100	$	100	$	300		
Postage	$	1,000	$	93	$	131	$	224	$	1,000		
Printing & Binding	$	1,000	$	202	$	132	$	334	$	1,000		
Office Supplies	$	625	$	48	$	64	$	113	$	625		
Insurance	$	5,500	$	5,000	$	-	$	5,000	$	5,500		
Legal Advertising	$	5,000	$	1,116	$	1,820	$	2,936	$	5,000		
Other Current Charges	$	1,000	$	8	$	500	$	508	$	1,500		
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175		

Total Administrative	$ 104,218	$	51,347	$ 37,154	$	88,501	$ 122,568	

	Adopted	Actuals
Budget	Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2021	6/30/21	3 Months	9/30/21	FY2022	
Operations & Maintenance					
Field Expenses					
Property Insurance	$	-	$	-	$	-	$	-	$	5,000	
Field Management	$	-	$	-	$	-	$	-	$	10,000	
Landscape Maintenance	$	-	$	13,800	$	10,350	$	24,150	$	52,123	
Landscape Replacement	$	-	$	-	$	-	$	-	$	5,000	
Electric	$	-	$	-	$	-	$	-	$	5,000	
Water & Sewer	$	-	$	-	$	-	$	-	$	3,000	
Fountain Maintenance	$	-	$	1,600	$	1,700	$	3,300	$	7,000	
Irrigation Repairs	$	-	$	340	$	-	$	340	$	2,500	
General Repairs & Maintenance	$	-	$	-	$	-	$	-	$	5,000	
Contingency	$	-	$	1,100	$	-	$	1,100	$	2,500	
Subtotal Field Expenses	$	-	$	16,840	$	12,050	$	28,890	$	97,123	
					
Total Expenditures	$    104,218	$	68,187	$	49,204	$	117,391	$	219,691	
					
Excess Revenues/(Expenditures)	$	-	$	(5,801)	$	5,801	$	-	$	-	

Product	Assessable Units	Net Assessment	
Net Per Unit	
Gross Per Unit	
Tax Roll
Townhouse - 25'	
122	
$	34,151	
$	279.93	
$	301.00	
Single Family - 40'	92	$	27,465	$	298.53	$	321.00	
Single Family - 50'	92	$	34,310	$	372.93	$	401.00	
Total Tax Roll	306	$	95,926			
Direct Bill					
Unplatted	339	$	64,419	$	190.03	$	204.33	
Total Direct Bill	339	$	64,419			
Sandmine Road Community Development District
General Fund Budget

REVENUES:

Assessments

The District will levy a non-ad valorem assessment on all assessable property within the District to fund all general operating and maintenance expenditures during the fiscal year.

Developer Contributions

The District will enter into a funding agreement with the developer to fund the general fund expenditures for the fiscal year.

EXPENDITURES:

Administrative:

Supervisor Fees

Chapter 190, Florida Statutes, allows for each Board member to receive $200 per meeting, not to exceed $4,800 per year paid to each Supervisor for the time devoted to District business and meetings.

FICA Expense

Represents the Employer’s share of Social Security and Medicare taxes withheld from Board of Supervisor checks.

Engineering

The District's engineer will be providing general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review invoices, etc.

Attorney

The District's legal counsel will be providing general legal services to the District, e.g. attendance and preparation for monthly meetings, preparation and review of agreements, resolutions, etc.

Annual Audit

The district is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis.

Arbitrage Fees

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on the Special Assessment Bond.

Dissemination Fees

The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(5) which relates to additional report requirements for unrated bond issues.

Trustee Fees

The District will pay annual fees for Series 2020 Special Assessment Revenue Bonds that are deposited with a Trustee at US Bank, N.A.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services.

Information Technology

Represents costs related to the District’s accounting and information systems, District’s website creation and maintenance, electronic compliance with Florida Statutes and other electronic data requirements.

Website Maintenance

Represents the costs associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc.

Telephone

Telephone and fax machine.

Postage

Mailing of agenda packages, overnight deliveries, correspondence, etc.

Printing & Binding

Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc.

Office Supplies

Miscellaneous office supplies.

Insurance

The District’s general liability, public officials liability and property insurance coverages.

Legal Advertising

The District is required to advertise various notices for monthly Board meetings, public hearings, etc in a newspaper of general circulation.

Other Current Charges

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

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Florida Department of Economic Opportunity for $175. This is the only expense under this category for the District.

Operations & Maintenance:

Field Expenses:

Property Insurance

The District’s property insurance coverages.

Field Management

Represents the estimated costs of contracting services that provide onsite field management of contracts for the District such as landscape and lake maintenance. Services can include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Landscape Maintenance

Represents the estimated maintenance of the landscaping within the common areas of the District after the installation of landscape material has been completed.

Landscape Replacement

Represents the estimated cost of replacing landscaping within the common areas of the District.

Electric

Represents current and estimated electric charges of common areas throughout the District.

Water & Sewer

Represents current and estimated costs for water and refuse services provided for common areas throughout the District.

Fountain Maintenance

Represents the estimated costs of maintaining the fountains for the District.

Irrigation Repairs

Represents the cost of maintaining and repairing the irrigation system. This includes the sprinklers, and irrigation wells.

General Repairs & Maintenance

Represents estimated costs for general repairs and maintenance of the District’s common areas.

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any field category.
Sandmine Road
Community Development District Adopted Budget
Debt Service Fund Series 2020

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget		
Description	FY2021	6/30/21	3 Months	9/30/21	FY2022		

Revenues						
Assessments	$	363,719	$	363,719	$	-	$	363,719	$	363,719	
Interest	$	-	$	14	$	5	$	19	$	-	
Carry Forward Surplus (1)	$	39,271	$	39,271	$	-	$	39,271	$	117,848	
Total Revenues	$	402,990	$	403,004	$	5	$	403,008	$	481,567	

Expenditures						
General & Administrative:						
Interest - 11/1	$	39,271	$	39,271	$	-	$	39,271	$	114,175	
Principal - 5/1	$	130,000	$	130,000	$	-	$	130,000	$	135,000	
Interest - 5/1	$	115,881	$	115,881	$	-	$	115,881	$	114,175	
Total Expenditures	$	285,152	$	285,152	$	-	$	285,152	$	363,350	

Other Sources/(Uses)						
Transfer In/Out	$	-	$	(8)	$	-	$	(8)	$	-			
Total Other Sources/(Uses)	$	-	$	(8)	$	-	$	(8)	$	-			

Interest - 11/1/2022  $	112,403.13

(1) Carryforward Surplus is net of Debt Service Reserve Funds

Product	Assessable Units	Net Assessment	Net Per Unit	Gross Per Unit Tax Roll
Sandmine Road Community Development District Series 2020 Special Assessment Bonds
AMORTIZATION SCHEDULE

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