Sandmine Road Community Development District

Amended Budget
FY 2020

Table of Contents

General Fund	Page 1

General Fund Narrative	Page 2-3

Series 2020 Debt Service Fund	Page 4

Series 2020 Amortization Schedule	Page 5

Sandmine Road
Community Development District					

General Fund	
	Adopted	Actuals	Projected	Total	Amended	
	Budget	Thru	Next	Thru	Budget	
Description	FY 2020	9/30/20	0 Months	9/30/20	FY 2020	

REVENUES						
Developer Contributions Carry Forward Surplus	$	65,447	$	50,030	$	-	$	50,030
$	-	$	-	$	65,447
$	-	
TOTAL REVENUES	$	65,447	$	50,030	$	-	$	50,030	$	65,447	

EXPENDITURES					
Administrative
Supervisor Fees	
$6,000	
$	-	
$	-	$	-	
$6,000	
Fica Expense	$459	$	-	$	-	$	-	$459	
Engineering	$6,000	$	-	$	-	$	-	$6,000	
Attorney	$12,500	$	11,294	$	-	$	11,294	$12,500	
Annual Audit	$0	$	-	$	-	$	-	$0	
Management Fees	$17,500	$	16,042	$	-	$	16,042	$17,500	
Information Technology	$600	$	3,325	$	-	$	3,325	$600	
Website Creation/ADA Compliance	$2,775	$	-	$	-	$	-	$2,775	
Telephone	$150	$	-	$	-	$	-	$150	
Postage	$500	$	227	$	-	$	227	$500	
Insurance	$2,500	$	2,302	$	-	$	2,302	$2,500	
Printing & Binding	$500	$	60	$	-	$	60	$500	
Legal Advertising	$15,000	$	12,139	$	-	$	12,139	$15,000	
Other Current Charges	$500	$	-	$	-	$	-	$500	
Office Supplies	$313	$	64	$	-	$	64	$313	
Dues, Licenses & Subscriptions	$150	$	100	$	-	$	100	$150	
TOTAL EXPENDITURES	$	65,447	$	45,554	$	-	$	45,554	$	65,447	
					
NET CHANGE IN FUND BALANCE	$	-	$	4,477	$	-	$	4,477	$	-	

Sandmine Road
Community Development District
GENERAL FUND BUDGET

REVENUES:

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.

Management Fees

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

Sandmine Road
Community Development District
GENERAL FUND BUDGET

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 Creation/ADA Compliance

Represents an estimated cost to create the initial District website and ensure District meets ADA compliance guidelines.

Telephone

Telephone and fax machine.

Postage

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

Insurance

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

Printing & Binding

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

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.

Office Supplies

Miscellaneous office supplies.

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.

Budget Amendment
	Adopted Budget 20	Actual 9/30	Amended 20	Amended 21	
Special Assessments	$	-	$	-	$	-	$	363,719.00	
Carry Forward	$	-	$	-	$	-	$	39,271.00	
total	$	-	$	-	$	-	$	402,990.00	
Interest	$	-	$	-	$	-	$	39,271.00	
Principal	$	-	$	-	$	-	$	135,000.00	
Interest	$	-	$	-	$	-	$	114,175.00	
Total	$	-	$	-	$	-	$	288,446.00	
Bond Proceeds	$	-	$	221,130	$	221,130	$	-	
Excess Revenue	$	-	$	221,130.00	$	221,130.00	$	114,544.00	
	1-Nov-21	$	114,175	

Sandmine Road
Community Development District
Series 2020 Special Assessment Bonds

AMORTIZATION SCHEDULE

DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL

11/01/20	$	6,590,000.00	$	
05/01/21	$	6,590,000.00	$	13	
11/01/21	$	6,460,000.00	$	
05/01/22	$	6,460,000.00	$	13	
11/01/22	$	6,325,000.00	$	
05/01/23	$	6,325,000.00	$	14	
11/01/23	$	6,185,000.00	$	
05/01/24	$	6,185,000.00	$	14	
11/01/24	$	6,045,000.00	$	
05/01/25	$	6,045,000.00	$	14	
11/01/25	$	5,900,000.00	$	
05/01/26	$	5,900,000.00	$	15	
11/01/26	$	5,750,000.00	$	
05/01/27	$	5,750,000.00	$	15	
11/01/27	$	5,595,000.00	$	
05/01/28	$	5,595,000.00	$	16	
11/01/28	$	5,435,000.00	$	
05/01/29	$	5,435,000.00	$	16	
11/01/29	$	5,270,000.00	$	
05/01/30	$	5,270,000.00	$	17	
11/01/30	$	5,100,000.00	$	
05/01/31	$	5,100,000.00	$	17	
11/01/31	$	4,925,000.00	$	
05/01/32	$	4,925,000.00	$	18	
11/01/32	$	4,745,000.00	$	
05/01/33	$	4,745,000.00	$	19	
11/01/33	$	4,555,000.00	$	
05/01/34	$	4,555,000.00	$	19	
11/01/34	$	4,360,000.00	$	
05/01/35	$	4,360,000.00	$	20	
11/01/35	$	4,155,000.00	$	
05/01/36	$	4,155,000.00	$	21	
11/01/36	$	3,945,000.00	$	
05/01/37	$	3,945,000.00	$	22	
11/01/37	$	3,725,000.00	$	
05/01/38	$	3,725,000.00	$	22	
11/01/38	$	3,500,000.00	$	
05/01/39	$	3,500,000.00	$	23	
11/01/39	$	3,265,000.00	$	
05/01/40	$	3,265,000.00	$	24	
11/01/40	$	3,020,000.00	$	
05/01/41	$	3,020,000.00	$	25	
11/01/41	$	2,765,000.00	$	
05/01/42	$	2,765,000.00	$	26	
11/01/42	$	2,500,000.00	$	
05/01/43	$	2,500,000.00	$	27	
11/01/43	$	2,225,000.00	$	
05/01/44	$	2,225,000.00	$	28	
11/01/44	$	1,940,000.00	$	
05/01/45	$	1,940,000.00	$	29	
11/01/45	$	1,645,000.00	$	
05/01/46	$	1,645,000.00	$	30	
11/01/46	$	1,340,000.00	$	
05/01/47	$	1,340,000.00	$	31	
11/01/47	$	1,025,000.00	$	
05/01/48	$	1,025,000.00	$	33	
11/01/48	$	695,000.00	$	
05/01/49	$	695,000.00	$	34	
11/01/49	$	355,000.00	$	
05/01/50	$	355,000.00	$	35

$	6,59	

-	$
0,000.00	$
-	$
5,000.00	$
-	$
0,000.00	$
-	$
0,000.00	$
-	$
5,000.00	$
-	$
0,000.00	$
-	$
5,000.00	$
-	$
0,000.00	$
-	$
5,000.00	$
-	$
0,000.00	$
-	$
5,000.00	$
-	$
0,000.00	$
-	$
0,000.00	$
-	$
5,000.00	$
-	$
5,000.00	$
-	$
0,000.00	$
-	$
0,000.00	$
-	$
5,000.00	$
-	$
5,000.00	$
-	$
5,000.00	$
-	$
5,000.00	$
-	$
5,000.00	$
-	$
5,000.00	$
-	$
5,000.00	$
-	$
5,000.00	$
-	$
5,000.00	$
-	$
5,000.00	$
-	$
0,000.00	$
-	$
0,000.00	$
-	$
5,000.00	$

39,270.87	$
115,881.25	$
114,175.00	$
114,175.00	$
112,403.13	$
112,403.13	$
110,565.63	$
110,565.63	$
108,728.13	$
108,728.13	$
106,825.00	$
106,825.00	$
104,481.25	$
104,481.25	$
102,059.38	$
102,059.38	$
99,559.38	$
99,559.38	$
96,981.25	$
96,981.25	$
94,325.00	$
94,325.00	$
91,153.13	$
91,153.13	$
87,890.63	$
87,890.63	$
84,446.88	$
84,446.88	$
80,912.50	$
80,912.50	$
77,196.88	$
77,196.88	$
73,390.63	$
73,390.63	$
69,403.13	$
69,403.13	$
65,325.00	$
65,325.00	$
61,065.63	$
61,065.63	$
56,625.00	$
56,625.00	$
51,843.75	$
51,843.75	$
46,875.00	$
46,875.00	$
41,718.75	$
41,718.75	$
36,375.00	$
36,375.00	$
30,843.75	$
30,843.75	$
25,125.00	$
25,125.00	$
19,218.75	$
19,218.75	$
13,031.25	$
13,031.25	$
6,656.25	$
6,656.25	$

39,270.87
- 360,056.25
- 361,578.13
- 362,968.75
- 359,293.75
- 360,553.13
- 361,306.25
- 361,540.63
- 361,618.75
- 361,540.63
- 361,306.25
- 360,478.13
- 359,043.75
- 362,337.50
- 360,359.38
- 363,109.38
- 360,587.50
- 362,793.75
- 359,728.13
- 361,390.63
- 362,690.63
- 363,468.75
- 363,718.75
- 363,593.75
- 363,093.75
- 362,218.75
- 360,968.75
- 359,343.75
- 362,250.00
- 359,687.50
361,656.25

0,000.00	$

4,293,552.24	$

10,883,552.24