Indigo East
Community Development District

Adopted Budget
FY2022

Table of Contents

1

2-6

7

8

9
 	General Fund

 	General Fund Narrative

 	Capital Reserves Fund

 	Debt Service Fund - Series 2016

 	Amortization Schedule - Series 2016
Indigo East
Community Development District Adopted Budget
General Fund

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

Revenues						
Maintenance Assessments	$	254,337	$	255,132	$	-	$	255,132	$	254,337	
Interest	$	-	$	15	$	6	$	21	$	-	
Carry Forward Surplus	$	-	$	-	$	-	$	-	$	12,378	
Total Revenues	$	254,337	$	255,147	$	6	$	255,153	$	266,715	

Expenditures						
General & Administrative						
Supervisor Fees	$	4,000	$	2,800	$	1,000	$	3,800	$	4,000	
FICA Expense	$	306	$	168	$	77	$	245	$	306	
Engineering	$	1,200	$	-	$	1,200	$	1,200	$	1,200	
Trustee Fees	$	2,050	$	2,020	$	30	$	2,050	$	2,050	
Dissemination	$	2,700	$	1,975	$	725	$	2,700	$	2,700	
Arbitrage	$	600	$	600	$	-	$	600	$	450	
Assessment Roll	$	5,000	$	5,000	$	-	$	5,000	$	5,000	
Attorney	$	6,000	$	1,045	$	4,955	$	6,000	$	6,000	
Annual Audit	$	3,600	$	3,600	$	-	$	3,600	$	3,800	
Management Fees	$	7,244	$	5,433	$	1,811	$	7,244	$	7,461	
Information Technology	$	600	$	450	$	150	$	600	$	800	
Website Maintenance	$	400	$	300	$	100	$	400	$	600	
Telephone	$	100	$	-	$	50	$	50	$	100	
Postage	$	1,500	$	37	$	375	$	412	$	1,250	
Printing & Binding	$	800	$	177	$	200	$	377	$	500	
Insurance	$	6,815	$	6,503	$	-	$	6,503	$	7,154	
Legal Advertising	$	1,000	$	-	$	1,000	$	1,000	$	1,000	
Other Current Charges	$	700	$	440	$	114	$	554	$	700	
Office Supplies	$	200	$	84	$	28	$	112	$	200	
Property Taxes	$	35	$	15	$	-	$	15	$	35	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total General & Administrative:	$	45,025	$	30,823	$	11,814	$	42,637	$	45,481	

Operations & Maintenance						
Property Insurance	$	410	$	423	$	-	$	423	$	465	
Water Expense	$	2,500	$	1,960	$	600	$	2,560	$	2,700	
Electric Expense	$	25,432	$	16,781	$	5,250	$	22,031	$	25,432	
Irrigation Repairs	$	2,925	$	-	$	2,925	$	2,925	$	2,925	
Retention Ponds/ROW Maintenance	$	163,045	$	115,607	$	48,085	$	163,693	$	169,162	
Plant Replacement	$	2,500	$	-	$	2,500	$	2,500	$	2,500	
Tree Trimming	$	1,000	$	-	$	1,000	$	1,000	$	1,000	
Pressure Washing	$	6,500	$	-	$	-	$	-	$	13,000	
Well Maintenance/Repairs	$	5,000	$	-	$	5,000	$	5,000	$	4,050	
Contingency	$	-	$	2,985	$	-	$	2,985	$	-	
Total Operations & Maintenance:	$	209,312	$	137,757	$	65,360	$	203,117	$	221,234	
						
Total Expenditures	$	254,337	$	168,579	$	77,175	$	245,754	$	266,715	
						
Excess Revenues/(Expenditures)	$	-	$	86,568	$	(77,169)	$	9,399	$	0	

Net Assessments	

FY2019
$195,929	

FY2020
$254,337	

FY2021
$254,337	

FY2022
$254,337		
Discounts & Collections (6%) 	$12,506		$16,234		$16,234		$16,234	 Gross Assessments       $208,435	$270,572	$270,572	$270,572	

Total Units 		705		605		605		605	 Assessments per Unit 	$296	$447	$447	$447	

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 2016 Special Assessment Refunding Bonds that are administered by a Trustee at US Bank.

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. The District currently contracted with Governmental Management Services – Central Florida, LLC.

Arbitrage
The District has contracted with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on the Series 2016 Special Assessment Refunding Bonds.

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 Colen & Wagoner 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 contracted 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.

Information Technology
Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, security, accounting software, etc.

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, 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
Includes bank charges and any other miscellaneous expenses that are incurred during the year.

Property Taxes
The District pays annual property tax to the Marion County Tax Collector’s Office.

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:
Water & Sewer
To record the water cost of irrigation charges to the common area. The District has the following accounts with Bay Laurel Center CDD.

Address	Monthly	Annually	
80th Terrace Median	$50	$600	
82nd/78th Terrace Median	$100	$1,200	
77th Court Culdesac	$30	$360	
Contingency		$540	
		$2,700	

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

Description	Monthly	Annually	
Streetlighting	$1,636	$19,632	
Well Pumps	$400	$4,800	
Contingency		$1,000	
TOTAL		$25,432	

Irrigation Repairs
To record the cost of various repairs that may be needed to the irrigation system.

Retention Ponds/ROW Maintenance
The District has contracted with Earthscapes Unlimited, Inc 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."

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

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

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

Description	Monthly	Annually	
Earthscapes Unlimited Inc - North Area	$4,239	$50,873	
Earthscapes Unlimited Inc - South Area	$4,889	$58,665	
Everglades Pine Straw 10,100 bales @ $4.03/bale)		$40,703	
Retention Ponds	$1,577	$18,921	
TOTAL		$169,162	

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.

Well Repairs and Maintenance
Estimated cost for repairs and maintenance of the two wells.
Capital Reserves Fund

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

Revenues						
Interest Income	$	5,000	$	600	$	60	$	660	$	-	
Carry Forward Surplus	$	503,897	$	482,901	$	-	$	482,901	$	477,661	
Total Revenues	$	508,897	$	483,501	$	60	$	483,561	$	477,661	

Expenditures						

Roadway Resurfacing Capital Outlay
$	-	$
$	-	$
-	$
5,900	$
-	$	-	$
-	$	5,900	$
106,169
-

Debt Service Fund Series 2016

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	$	85,312    $	85,769	$	-	$	85,769	$	83,950			
Assessments - Prepayments	$	-	$	15,260	$	-	$	15,260	$	-	
Interest Income	$	200	$	5	$	2	$	6	$	-	
Carry Forward Surplus	$	153,298	$	99,976	$	-	$	99,976	$	103,661	
Total Revenues	$	238,809	$	201,010	$	2	$	201,011	$	187,611	

Expenditures						
General & Administrative:						
Special Call - 11/1	$	5,000	$	10,000	$	-	$	10,000	$	15,000	
Interest - 11/1	$	21,278	$	21,278	$	-	$	21,278	$	20,284	
Principal - 5/1	$	45,000	$	45,000	$	-	$	45,000	$	40,000	
Interest - 5/1	$	21,278	$	21,072	$	-	$	21,072	$	20,284	
Total Expenditures	$	92,556	$	97,350	$	-	$	97,350	$	95,569	
						
Excess Revenues/(Expenditures)	$	146,253	$	103,660	$	2	$	103,661	$	92,043	
				
Nov 1, 2022	
$19,584	
Net Assessments	$83,950					
Discounts & Collections (6%) 	$5,359 						
Gross Assessments	$89,309					

Total Units 		185  Assessments per Unit 	$483 

	Series 2016 Special Assessment Bonds Amortization Schedule		
Date	Balance	Prinicpal	Interest	Total	
			
11/01/21	$	965,000.00	$	-	$	20,284.38	$	86,356.25	
05/01/22	$	965,000.00	$	40,000.00	$	20,284.38		
11/01/22	$	925,000.00	$	-	$	19,584.38	$	79,868.75	
05/01/23	$	925,000.00	$	45,000.00	$	19,584.38		
11/01/23	$	880,000.00	$	-	$	18,796.88	$	83,381.25	
05/01/24	$	880,000.00	$	45,000.00	$	18,796.88		
11/01/24	$	835,000.00	$	-	$	17,953.13	$	81,750.00	
05/01/25	$	835,000.00	$	50,000.00	$	17,953.13		
11/01/25	$	785,000.00	$	-	$	17,015.63	$	84,968.75	
05/01/26	$	785,000.00	$	50,000.00	$	17,015.63		
11/01/26	$	735,000.00	$	-	$	15,984.38	$	83,000.00	
05/01/27	$	735,000.00	$	55,000.00	$	15,984.38		
11/01/27	$	680,000.00	$	-	$	14,850.00	$	85,834.38	
05/01/28	$	680,000.00	$	55,000.00	$	14,850.00		
11/01/28	$	625,000.00	$	-	$	13,715.63	$	83,565.63	
05/01/29	$	625,000.00	$	60,000.00	$	13,715.63		
11/01/29	$	565,000.00	$	-	$	12,478.13	$	86,193.75	
05/01/30	$	565,000.00	$	60,000.00	$	12,478.13		
11/01/30	$	505,000.00	$	-	$	11,240.63	$	83,718.75	
05/01/31	$	505,000.00	$	65,000.00	$	11,240.63		
11/01/31	$	440,000.00	$	-	$	9,900.00	$	86,140.63	
05/01/32	$	440,000.00	$	65,000.00	$	9,900.00		
11/01/32	$	375,000.00	$	-	$	8,437.50	$	83,337.50	
05/01/33	$	375,000.00	$	70,000.00	$	8,437.50		
11/01/33	$	305,000.00	$	-	$	6,862.50	$	85,300.00	
05/01/34	$	305,000.00	$	70,000.00	$	6,862.50		
11/01/34	$	235,000.00	$	-	$	5,287.50	$	82,150.00	
05/01/35	$	235,000.00	$	75,000.00	$	5,287.50		
11/01/35	$	160,000.00	$	-	$	3,600.00	$	83,887.50	
05/01/36	$	160,000.00	$	80,000.00	$	3,600.00		
11/01/36	$	80,000.00	$	-	$	1,800.00	$	85,400.00	
05/01/37	$	80,000.00	$	80,000.00	$	1,800.00	$	81,800.00	
	$	1,010,000.00    $	416,653.13	$	1,426,653.13