Indigo East
Community Development District
Adopted Budget
FY 2016

Table of Contents

1-8	 	General Fund

9	 	Capital Projects Fund

10-11 	Debt Service Fund

Indigo East
COMMUNITY DEVELOPMENT DISTRICT GENERAL FUND

	ADOPTED
BUDGET	ACTUAL
THRU	PROJECTED
NEXT	TOTAL
AS OF	ADOPTED
BUDGET	
DESCRIPTION	FY2015	7/31/15	2 MONTHS	9/30/15	FY2016	

REVENUES:						
MAINTENANCE ASSESSMENTS	$195,929	$196,576	$0	$196,576	$195,929	
INTEREST	$250	$77	$13	$90	$250	
MISCELLANEOUS INCOME	$0	$37	$0	$37	$0	
CARRY FORWARD SURPLUS	$64,558	$64,558	$0	$64,558	$0	
TOTAL REVENUES	$260,737	$261,247	$13	$261,260	$196,179	

EXPENDITURES:						
ADMINISTRATIVE:						
SUPERVISOR FEE	$4,000	$2,000	$1,000	$3,000	$4,000	
FICA EXPENSE	$306	$122	$61	$184	$306	
ENGINEERING	$1,200	$900	$0	$900	$1,200	
TRUSTEE FEES	$2,000	$2,020	$0	$2,020	$2,050	
DISSEMINATION	$2,100	$2,500	$0	$2,500	$2,700	
ARBITRAGE	$600	$600	$0	$600	$600	
ASSESSMENT ROLL	$5,000	$5,000	$0	$5,000	$5,000	
ATTORNEY	$6,000	$3,000	$1,500	$4,500	$6,000	
ANNUAL AUDIT	$3,600	$3,600	$0	$3,600	$3,800	
MANAGER	$6,828	$5,690	$1,138	$6,828	$7,033	
COMPUTER TIME	$1,000	$833	$167	$1,000	$1,000	
TELEPHONE	$100	$0	$0	$0	$100	
POSTAGE	$600	$322	$128	$450	$600	
PRINTING & BINDING	$600	$260	$165	$425	$600	
INSURANCE	$6,515	$5,923	$0	$5,923	$6,663	
LEGAL ADVERTISING	$900	$226	$449	$675	$900	
OTHER CURRENT CHARGES	$900	$367	$108	$475	$750	
PROPERTY TAXES	$35	$10	$0	$10	$35	
OFFICE SUPPLIES	$500	$58	$42	$100	$250	
DUES, LICENSES, SUBSCRIPTIONS	$175	$175	$0	$175	$175	
TOTAL ADMINISTRATIVE	$42,959	$33,608	$4,758	$38,366	$43,762	

MAINTENANCE:
COMMON AREA IRRIGATION	

$25,000	

$9,761	

$2,739	

$12,500	

$15,000	
ELECTRIC EXPENSE	$12,000	$8,039	$2,711	$10,750	$12,000	
RETENTION PONDS	$32,814	$26,112	$3,003	$29,116	$18,020	
ROW MAINTENANCE	$43,558	$39,081	$12,919	$52,000	$53,486	
PLANT REPLACEMENT	$17,000	$5,351	$0	$5,351	$10,000	
TREE TRIMMING	$3,000	$0	$0	$0	$3,000	
PRESSURE WASHING	$6,000	$5,567	$0	$5,567	$6,000	
CONTINGENCY	$13,848	$2,400	$0	$2,400	$9,911	
TRANSFER OUT	$64,558	$64,558	$39,653	$104,211	$25,000	
TOTAL MAINTENANCE	$217,778	$160,869	$61,025	$221,894	$152,417	
						
TOTAL EXPENDITURES	$260,737	$194,477	$65,783	$260,260	$196,179	
						
EXCESS REVENUES (EXPENDITURES)	$0	$66,770	($65,770)	$1,000	$0	

Net Assessments	
FY2013
$248,330	
FY2014
$195,929	
FY2015
$195,929	
FY2016
$195,929	
Discounts & Collections (6%) 	$15,851		$12,506		$12,506		$12,506	 Gross Assessments    $264,181	$208,435	$208,435	$208,435 

Total Units 		705		705		705		705	 Assessments per Unit 	$375	$296	$296	$296	

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
The District receives interest earnings from its cash balance in the Suntrust operating account.

EXPENDITURES:

Administrative:

Supervisor Fees
The Florida Statutes allows each board member to receive $200 per meeting not to exceed $4,800 in one year. This amount is based upon 5 Supervisors attending 4 monthly meetings.

FICA Expense
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. The District currently has an agreement with Dewberry Engineers Inc.
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. The District currently has an agreement with Gerald R. Colen, P.A.

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. The services include, but are not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reporting, annual audits, etc.

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, checks for vendors and any other required correspondence.

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. The District does most of its legal advertising with Ocala Star-Banner.

Other Current Charges
Bank charges and any other miscellaneous expenses that are incurred during the year.

Office Supplies
The District incurs charges for supplies that need to be purchased during the fiscal year, including copier and printer toner cartridges, paper, file folders, binders, pens, paper clips, and other such 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 CDD.

Description	Address	Monthly	Annually	
LS1600 IRR	8250 SW 79th Terrace Road	$1,083	$13,000	
MED80TH	80th Terrace Median	$42	$500	
MED82ND	82nd/78th Terrace Median	$125	$1,500	
TOTAL			$15,000	

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

Description	Monthly	Annually	
Street Lighting	$1,000
TOTAL	$12,000	
	$12,000	

Retention Ponds
The District has contracted with Sharp Fence Construction, LLC to provide the following services:

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. Typical yearly mowing schedules will allow for 38 mowings per year.

Edging / 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.
FY15	FY16
Description	Monthly	Annually	Monthly	Annually	
Retention Ponds	$2,735
TOTAL	$32,814	$1,502	$18,020	
	$32,814		$18,020	

ROW Maintenance
The District has contracted with Earthscapes Unlimited, Inc. to provide the following services:

Turf Fertilization
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 / 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.
FY15	FY16
Description	Monthly	Annually	Monthly	Annually	
ROW Maintenance	$2,799	$33,583	$3,293	$39,521	
Everglades Pine Straw		$9,975		$13,965	
TOTAL		$43,558		$53,486	

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

	ADOPTED
BUDGET	ACTUAL
THRU	PROJECTED
NEXT	TOTAL
THRU	ADOPTED
BUDGET	
Description	FY2015	7/31/15	2 MONTHS	9/30/15	FY2016	

REVENUES						
Transfer In	$64,558	$64,558	$39,653	$104,211	$25,000	
Carry Forward Surplus	$333,695	$333,695	$0	$333,695	$432,231	
Total Revenues	$398,253	$398,253	$39,653	$437,906	$457,231	
EXPENDITURES						
Capital Outlay	$0	$0	$5,675	$5,675	$0	
Total Expenditures	$0	$0	$5,675	$5,675	$0	
						
Excess Revenues	$398,253	$398,253	$33,978	$432,231	$457,231	

DEBT SERVICE FUND

	ADOPTED
BUDGET	ACTUAL
THRU	PROJECTED
NEXT	TOTAL
THRU	ADOPTED
BUDGET	
Description	FY2015	7/31/15	2 MONTHS	9/30/15	FY2016	

REVENUES						
Carry Forward Surplus	$118,073	$123,284	$0	$123,284	$135,111	
Assessments - Tax Roll	$157,168	$157,759	$0	$157,759	$156,134	
Assessments - Prepayment	$0	$19,653	$0	$19,653	$0	
Interest Income	$100	$40	$10	$50	$100	
Total Revenues	$275,341	$300,736	$10	$300,746	$291,345	
EXPENDITURES						

Special Call 11/1	
$5,000	
$10,000	
$0	
$10,000	
$25,000	
Interest - 11/1	$55,454	$55,454	$0	$55,454	$53,955	
Principal - 5/1	$45,000	$45,000	$0	$45,000	$50,000	
Special Call 5/1	$0	$0	$0	$0	$0	
Interest - 5/1	$55,454	$55,181	$0	$55,181	$53,955	
Total Expenditures	$160,908	$165,635	$0	$165,635	$182,910	

Excess Revenues	$114,434	$135,101	$10	$135,111	$108,435	
			
Nov 1, 2016	
$	104,967	
Net Assessments	$156,134	
Discounts & Collections (6%)	$9,966	
Gross Assessments	$166,100	
Total Units	302	
Assessments per Unit	$550	

(1)

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

Community Development District
Series 2006 Special Assessment Bonds

AMORTIZATION SCHEDULE

DATE

BALANCE

RATE

PRINCIPAL

INTEREST

TOTAL

11/01/15	$	1,980,000.00	5.45%	$	
05/01/16	$	1,980,000.00	5.45%	$	
11/01/16	$	1,930,000.00	5.45%	$	
05/01/17	$	1,930,000.00	5.45%	$	
11/01/17	$	1,880,000.00	5.45%	$	
05/01/18	$	1,880,000.00	5.45%	$	
11/01/18	$	1,825,000.00	5.45%	$	
05/01/19	$	1,825,000.00	5.45%	$	
11/01/19	$	1,770,000.00	5.45%	$	
05/01/20	$	1,770,000.00	5.45%	$	
11/01/20	$	1,710,000.00	5.45%	$	
05/01/21	$	1,710,000.00	5.45%	$	
11/01/21	$	1,645,000.00	5.45%	$	
05/01/22	$	1,645,000.00	5.45%	$	
11/01/22	$	1,580,000.00	5.45%	$	
05/01/23	$	1,580,000.00	5.45%	$	
11/01/23	$	1,510,000.00	5.45%	$	
05/01/24	$	1,510,000.00	5.45%	$	
11/01/24	$	1,435,000.00	5.45%	$	
05/01/25	$	1,435,000.00	5.45%	$	
11/01/25	$	1,355,000.00	5.45%	$	
05/01/26	$	1,355,000.00	5.45%	$	
11/01/26	$	1,270,000.00	5.45%	$	
05/01/27	$	1,270,000.00	5.45%	$	
11/01/27	$	1,185,000.00	5.45%	$	
05/01/28	$	1,185,000.00	5.45%	$	
11/01/28	$	1,095,000.00	5.45%	$	
05/01/29	$	1,095,000.00	5.45%	$	
11/01/29	$	1,000,000.00	5.45%	$	
05/01/30	$	1,000,000.00	5.45%	$	
11/01/30	$	895,000.00	5.45%	$	
05/01/31	$	895,000.00	5.45%	$	
11/01/31	$	785,000.00	5.45%	$	
05/01/32	$	785,000.00	5.45%	$	
11/01/32	$	670,000.00	5.45%	$	
05/01/33	$	670,000.00	5.45%	$	
11/01/33	$	550,000.00	5.45%	$	
05/01/34	$	550,000.00	5.45%	$	
11/01/34	$	425,000.00	5.45%	$	
05/01/35	$	425,000.00	5.45%	$	
11/01/35	$	290,000.00	5.45%	$	
05/01/36	$	290,000.00	5.45%	$	
11/01/36	$	150,000.00	5.45%	$	
05/01/37	$	150,000.00	5.45%	$	
			$	

-	$
50,000.00	$
-	$
50,000.00	$
-	$
55,000.00	$
-	$
55,000.00	$
-	$
60,000.00	$
-	$
65,000.00	$
-	$
65,000.00	$
-	$
70,000.00	$
-	$
75,000.00	$
-	$
80,000.00	$
-	$
85,000.00	$
-	$
85,000.00	$
-	$
90,000.00	$
-	$
95,000.00	$
-	$
105,000.00	$
-	$
110,000.00	$
-	$
115,000.00	$
-	$
120,000.00	$
-	$
125,000.00	$
-	$
135,000.00	$
-	$
140,000.00	$
-	$
150,000.00	$

53,955.00
53,955.00
52,592.50
52,592.50
51,230.00
51,230.00
49,731.25
49,731.25
48,232.50
48,232.50
46,597.50
46,597.50
44,826.25
44,826.25
43,055.00
43,055.00
41,147.50
41,147.50
39,103.75
39,103.75
36,923.75
36,923.75
34,607.50
34,607.50
32,291.25
32,291.25
29,838.75
29,838.75
27,250.00
27,250.00
24,388.75
24,388.75
21,391.25
21,391.25
18,257.50
18,257.50
14,987.50
14,987.50
11,581.25
11,581.25
7,902.50
7,902.50
4,087.50
4,087.50

$	53,955.00

$	156,547.50

$	153,822.50

$	155,961.25

$	152,963.75

$	154,830.00

$	156,423.75

$	152,881.25

$	154,202.50

$	155,251.25

$	156,027.50

$	156,531.25

$	151,898.75

$	152,130.00

$	152,088.75

$	156,638.75

$	155,780.00

$	154,648.75

$	153,245.00

$	151,568.75

$	154,483.75

$	151,990.00
$	154,087.50

1,980,000.00	$

1,467,957.50	$ 3,447,957.50