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Indigo East
Community Development District
Adopted Budget

FY 2015

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Table of Contents

1-9	General Fund

10	Capital Projects Fund

11-12 	De-bt-Ser-vice-Fu-nd

Indigo East
COMMUNITY DEVELOPMENT DISTRICT
GENERAL FUND

DESCRIPTION
REVENUES:

ADOPTED BUDGET FY2014

ACTUAL	PROJECTED
THRU	NEXT
7/31/14	2 MONTHS

TOTAL AS OF
9/30/14

ADOPTED BUDGET FY2015

MAINTENANCE ASSESSMENTS INTEREST
CARRY FORWARD SURPLUS

!TOTAL REVENUES EXPENDITURES: ADMINISTRATIVE:
SUPERVISOR FEE

$195,929	$196,625	$0
$300	$157	$43
$333,695	$398,304	$0
$529,924	$595,086	$43

$4,000	$600	$1,000

$196,625	$195,929
$200	$250
$398,304	$64,558
$595,129	$260,737 I

$92

$1,600	$4,000

FICA

$306

$77

$306

ENGINEERING TRUSTEE FEES DISSEMINATION ARBITRAGE ASSESSMENT ROLL ATTORNEY ANNUAL AUDIT MANAGER COMPUTER TIME TELEPHONE POSTAGE
PRINTING & BINDING INSURANCE
LEGAL ADVERTISING OTHER CURRENT CHARGES PROPERTY TAXES

$1,200	$1,120	$0
$2,000	$2,020	$0
$2,000	$2,100	$0
$600	$0	$600
$5,000	$5,000	$0
$6,000	$1,500	$1,500
$4,100	$3,400	$0
$6,828	$5,690	$1,138
$1,000	$833	$167
$100	$0	$50
$600	$216	$154
$600	$272	$148
$6,100	$5,923	$0
$900	$214	$686
$900	$501	$74

$32

$0	$10	$0

$1,120	$1,200
$2,020	$2,000
$2,100	$2,100
$600	$600
$5,000	$5,000
$3,000	$6,000
$3,400	$3,600
$6,828	$6,828
$1,000	$1,000
$50	$100
$370	$600
$420	$600
$5,923	$6,515
$900	$900

$35

$575	$900
$10

DUES,LICENSES,SUBSCR.	$175	$175	$0	$175	$175	
!TOTAL ADMINISTRATIVE	$42,909	$29,620	$5,626	$35,246	$42,959 I	

MAINTENANCE:						
COMMON AREA IRRIGATION	$25,000	$16,986	$4,514	$21,500	$25,000	
ELECTRIC EXPENSE	$12,000	$8,093	$2,712	$10,805	$12,000	
RETENTION PONDS	$53,008	$25,705	$5,141	$30,846	$32,814	
ROW MAINTENANCE	$58,312	$36,274	$5,372	$41,645	$43,558	
PLANT REPLACEMENT	$2,000	$0	$4,000	$4,000	$17,000	
TREE TRIMMING	$3,000	$0	$1,500	$1,500	$3,000	
PRESSURE WASHING	$0	$0	$0	$0	$6,000	
CONTINGENCY	$0	$0	$0	$0	$13,848	
TRANSFER OUT	$333,695	$333,695	$0	$333,695	$64,558	
I TOTAL MAINTENANCE	$487,015	$420,753	$23,239	$443,991	$217,778 I	
!TOTAL EXPENDITURES	$529,924	$4501373		$4791238	$260z737 I	
!EXCESS REYENUES (EXPENDITURES)		$144,713	($28,822)	$115,891	$0 I	
		FY2012	FY2013	FY2014	FY2015	
Net Assessments	$248,330	$248,330	$195,929	$195,929	
Discounts & Collections (6%)	$15,851	$15,851	$12,506	$12,506	
Gross Assessments	$264,181	$264,181		$208,435	
Total Units	705	705	705	705	
Assessments per Unit	$375	$375	$296	$296	

OFFICE SUPPLIES

$500

$33

$65	$500

$281865

$208,435

Indigo East
Community Development District
Exhibit II  A 11
Allocation of Operating Reserve
Estimated Funds Available

Allocation of Funds Available

Operating Reserve - First Quarter Operating Capital Estimated Transfer to Capital Reserve

Total Reserves

Total Undesignated Cash

$51,333

Beginning Fund Balance - Fiscal Year 2014	$398,304	
Transfer Out to Reserves- Fiscal Year 2014	($333,695)	
Estimated Excess Revenues - Fiscal Year 2014	$51,282	
Total Estimated Funds Available - 09/30/14	$115,891	

$64,558

$115,891
 	
$0

REVENUES:
Maintenance Assessments
The District will levy a non-ad valorem special assessment on all taxable property within the District, to fund all General Operating and Maintenance Expenditures for the Fiscal Year.

Interest Income
The District will invest surplus funds with the US Bank.

EXPENDITURES:

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Supervisor Fees
The Florida Statutes allows each board member to receive $200 per meeting not to exceed $4,800 in one year.
FICA Expenses
Represents the Employer's share of Social Security and Medicare taxes withheld from Board of Supervisors checks.
Engineering
The District's engineer will be providing general engineering services to the District, e.g., attendance and preparation for monthly meetings, reviewing invoices, and various projects assigned as directed by the Board of Supervisors.
Trustee Fees
The District issued Series 2006 Special Assessment Bonds that are administered by a Trustee at USBank.
Dissemination
The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b) (5) which relates to additional reporting requirements for unrated bond issues.

Arbitrage
The District has contracted with an independent certified public accountant to annually calculate the District's Arbitrage Rebate Liability on the Series 2006 Special Assessment Bonds. The District has an agreement with Grau & Associates for this service.
Assessment Roll
Governmental Management Services - Central Florida, LLC serves as the District's collection agent and certifies the District's non-ad valorem assessments with the county tax collector.
Attorney
The District's legal counsel will be providing general legal services to the District, i.e., attendance and preparation for monthly meetings, review operating and maintenance contracts, etc.
Annual Audit
The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm. The District has an agreement with Grau & Associates for this service.
Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services - Central Florida, LLC.
Computer Time
The District processes all of its financial activities, i.e., accounts payable, financial statements, etc. on a mainframe computer leased by Governmental Management Services - Central Florida, LLC.
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.

Insurance
The District's General Liability & Public Officials Liability Insurance policy is with Florida Insurance Alliance. The Florida Insurance Alliance specializes in providing insurance coverage to governmental agencies.
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 that are incurred during the year.
Office Supplies
Miscellaneous office supplies.
Dues, Licenses & Subscriptions
The District is required to pay an annual fee to the Department of Economic Opportunity for $175. This is the only expense under this category for the District.
MAINTENANCE:
Common Area Irrigation
To record the cost of irrigation charges to the common area. The District has the following accounts with Bay Laurel Center COD.

Description	Address	Monthly	Annually	
LS1600 IRR	8250 SW 79th Terrace Road	$2,000	$24,000	
MED80TH	80th Terrace Median	$83	$1,000	
TOTAL			$25,000	

Electric Expense
To record the electric cost of street lighting. The District has the following account with Sumter Electric Cooperative, Inc. (SECO).

Description Street Lighting TOTAL

Retention Ponds

Turf Maintenance

Monthly	Annually
$1,000	$12,000
$12,000

A. Turf areas unless otherwise specified will be mowed on a weekly basis in the growing season (April through October). During months not specified in the growing season (November through March) the turf will be mowed at least twice a month unless abnormal conditions arise. Typical yearly mowing schedules will allow for 38 mowings per year.

Edging I String Trimming

A. Edging  of  all hard edges:	Sidewalks,	Driveways,	Curb lines etc. adjacent to maintained property will be edged on a weekly basis during	the	growing	season		in	conjunction	with the	maintenance schedule. All storm water culverts will be string trimmed on a weekly basis during the growing season in conjunction with the maintenance schedule to ensure vegetation will not obstruct discharge culvert area. Edging of all landscape beds will be done on a weekly basis to provide a crisp edge. Retention ponds with beds areas will be edged using mechanical equipment such as an edger, string trimmer. Herbicidal edging is will not be acceptable. Bed lines will be edged with the intent to keep the same original design and will be enlarged if plant material growth warrants.

Bed Maintenance

A. Beds are to be free of weeds, trash and other debris at all times. Pre­ emergent and post-herbicidal applications may be used to help control weed growth but hand weeding will be done "as needed."

Mulch

A. Pine Straw mulch will be added once per year in landscape bed areas.

Tree Maintenance, Pruning and Fertilization

A. Tree staking materials will be adjusted, tightened or removed to ensure proper growth.

Description
Grass & Grounds, Inc.
TOTAL

ROW Maintenance

Turf Fertilization

Monthly	Annually
$32,814
 	
$32,814

A. St. Augustine Turf will be fertilized (3) times a year.

Turf Maintenance

A. Turf areas unless otherwise specified will be mowed on a weekly basis in the growing season (April through October). During months not specified in the growing season (November through March) the turf  will be mowed at least twice a month unless abnormal conditions arise.

Edging I String Trimming

A.  Edging   of   all hard  edges:	Sidewalks,	Driveways,		Curb lines etc. adjacent to maintained property will  be  edged  on  a  weekly  basis during	the	growing	season   in  conjunction	with	the	maintenance schedule. All storm water culverts will be string trimmed on  a weekly basis during the growing season in conjunction with the maintenance schedule to ensure vegetation will not obstruct discharge culvert area. Edging of all landscape  beds will  be done on a weekly basis to provide   a crisp edge. Retention ponds with beds areas will be edged using mechanical equipment such as an edger, string trimmer.  Herbicidal edging is will not be acceptable. Bed lines will be edged with  the  intent  to keep the same original design and will be enlarged if plant material growth warrants.

Bed Maintenance

A. Beds are to be free of weeds, trash and other debris at all times. Pre­ emergent and post-herbicidal applications may be used to  help  control weed growth but hand weeding will be done "as needed."

Mulch

A. Pine Straw mulch will be added twice per year in landscape bed areas.

Tree Maintenance, Pruning and Fertilization

A. Tree staking materials will be adjusted, tightened or removed to ensure proper growth.

Description	Monthly	Annually	
Grass & Grounds, Inc.	$2,799	$33,583	
Everglades Pine Straw, Inc. (2500 bales@ $3.99 per bale)		$9,975	
TOTAL		$43,558	

Plant Replacement
Estimated cost to replace damaged plants within the District.
Tree Trimming
Estimated cost for tree trimming within the District.
Pressure Washing
Estimated cost to pressure wash, annually, curbs, sidewalks and common areas maintained by the District.
Contingency
To record the cost of any maintenance expenses that does not apply to any of the other accounts.
Transfer Out
Funds transferred to the Capital Reserve Fund for any capital outlay related expenses.

CAPITAL PROJECTS FUND

Description
REVENUES
Transfer In
Carry Forward Surplus

!Total Revenues

ADOPTED BUDGET FY2014

ACTUAL THRl) 7/31/14

PROJECTED NEXT
2 MONTHS

TOTAL THRU 9/30/14

ADOPTED BUDGET FY2015

$333,695

$333,695
$0

$0
$0

$333,695
$0

$333,695

$333,695

$0

$333,695

$64,558
$333,695
$398,253 I

EXPENDITURES

lrotal Expenditures
Excess Revenues

$116,666
$217,029

$0
$333,695

$0
$0

$0
$333,695

$0 I
$398,253

Capital Outlay

$116,666	$0	$0

$0	$0

DEBT SERVICE FUND

Description
REVENUES

ADOPTED BUDGET FY2014

ACTUAL THRU 7/31/14

PROJECTED NEXT
2 MONTHS

TOTAL THRU 9/30/14

ADOPTED BUDGET FY2015

Carry Forward Surplus Assessments - Tax Roll Assessments - Prepayment
Interest Income

$118,250	$121,582	$0	$121,582
$157,685	$158,374	$0	$158,374
$0	$6,704	$0	$6,704
$200	$37	$8	$45

$118,073
$157,168
$0
$100

ITotalRevenues

$276,135

$286,697

$8

$286,705

$275,341

EXPENDITURES

Special Call 11/1 Interest - 11/1 Principal - 5/1 Interest - 5/1

ITotalExpenditures (l)IExcess Revenues

$10,000	$10,000	$0	$10,000
$56,953	$56,953	$0	$56,953
$45,000	$45,000	$0	$45,000
$56,953	$56,680	$0	$56,680

$168,905	$168,633	$0	$168,633

$107,230	$118,065	$8	$118,073
Nov 1, 2015

Net Assessments Discounts & Collections (6%)
Gross Assessments

Total Units Assessments per Unit

$5,000
$55,454
$45,000
$55,454

$160,9081

$114,4331
$	54,228

$157,168
$10,032
$167,200

304
$550

(1) Excess Revenues will be utilized to pay November 1 semi-annual interest payment.

Community  Develo12ment District
Series 2006 Special Assessment Bonds
AMORTIZATION SCHEDULE
DATE	BALANCE	RATE	PRINCIPAL	INTEREST	TOTAL
05/01/14	$	2,080,000.00	5.45%	$	45,000.00	$	56,680.00
11/0i/14	$	2,035,000.00	5.45%	$	$	55,453.75	$ 157,133.75
05/01/15	$	2,035,000.00	5.45%	$	45,000.00	$	55,453.75
11/01/15	$	1,990,000.00	5:45%	$	$	54,227.50	$ 154,681.25
05/01/16	$	1,990,000.00	5.45%	$	50,000.00	$	54,227.50
11/01/16	$	1,940,000.00	5.45%	$	$	52,865.00	$ 157,092.50
05/01/17	$	1,940,000.00	5.45%	$	50,000.00	$	52,865.00
11/01/17	$	1,890,000.00	5.45%	$	$	51,502.50	$ 154,367.50
05/01/18	$	1,890,000.00	5.45%	$	55,000.00	$	51,502.50
11/01/18	$	1,835,000.00	5.45%	$	$	50,003.75	$ 156,506.25
05/01/19	$	1,835,000.00	5.45%	$	55,000.00	$	50,003.75
11/01/19	$	1,780,000.00	5.45%	$	$	48,505.00	$ 153,508.75
05/01/20	$	1,780,000.00	5.45%	$	60,000.00	$	48,505.00
11/01/20	$	1,720,000.00	5.45%	$	$	46,870.00	$ 155,375.00
05/01/21	$	1,720,000.00	5.45%	$	65,000.00	$	46,870.00
11/01/21	$	1,655,000.00	5.45%	$	$	45,098.75	$ 156,968.75
05/01/22	$	1,655,000.00	5.45%	$	65,000.00	$	45,098.75
11/01/22	$	1,590,000.00	5.45%	$	$	43,327.50	$ 153,426.25
05/01/23	$	1,590,000.00	5.45%	$	70,000.00	$	43,327.50
11/01/23	$	1,520,000.00	5.45%	$	$	41,420.00	$ 154,747.50
05/01/24	$	1,520,000.00	5.45%	$	75,000.00	$	41,420.00
11/01/24	$	1,445,000.00	5.45%	$	$	39,376.25	$ 155,796.25
05/01/25	$	1,445,000.00	5.45%	$	80,000.00	$	39,376.25
11/01/25	$	1,365,000.00	5.45%	$	$	37,196.25	$ 156,572.50
05/01/26	$	1,365,000.00	5.45%	$	85,000.00	$	37,196.25
11/01/26	$	1,280,000.00	5.45%	$	$	34,880.00	$ 157,076.25
05/01/27	$	1,280,000.00	5.45%	$	85,000.00	$	34,880.00
11/01127	$	1,195,000.00	5.45%	$	$	32,563.75	$ 152,443.75
05/01/28	$	1,195,000.00	5.45%	$	90,000.00	$	32,563.75
11/01/28	$	1,105,000.00	5.45%	$	$	30,111.25	$ 152,675.00
05/01/29	$	1,105,000.00	5.45%	$	95,000.00	$	30,111.25
11/01/29	$	1,010,000.00	5.45%	$	$	27,522.50	$ 152,633.75
05/01/30	$	1,010,000.00	5.45%	$	105,000.00	$	27,522.50
11/01/30	$	905,000.00	5.45%	$	$	24,661.25	$ 157,183.75
05/01/31	$	905,000.00	5.45%	$	110,000.00	$	24,661.25
11/01/31	$	795,000.00	5.45%	$	$	21,663.75	$ 156,325.00
05/01/32	$	795,000.00	5.45%	$	115,000.00	$	21,663.75
11/01/32	$	680,000.00	5.45%	$	$	18,530.00	$ 155,193.75
05/01/33	$	680,000.00	5.45%	$	120,000.00	$	18,530.00
11/01/33	$	560,000.00	5.45%	$	$	15,260.00	$ 153,790.00
05/01/34	$	560,000.00	5.45%	$	130,000.00	$	15,260.00
11/01/34	$	430,000.00	5.45%	$	$	11,717.50	$ 156,977.50
05/01/35	$	430,000.00	5.45%	$	135,000.00	$	11,717.50
11/01/35	$	295,000.00	5.45%	$	$	8,038.75	$ 154,756.25
05/01/36	$	295,000.00	5.45%	$	145,000.00	$	8,038.75
11/01/36	$	150,000.00	5.45%	$	$	4,087.50	$  157,126.25
05/01/37	$	150,000.00	5.45%	$	150,000.00	$	4,087.50	$  154,087.50
$  2,080,000.00	$	1,646,445.00	$3,726,445.oo 1