Indigo East
Community Development District

Adopted Budget
FY2023

Table of Contents

1

2-6

7

8

9

General Fund

General Fund Narrative

Debt Service Fund - Series 2016

Amortization Schedule - Series 2016

Capital Reserves Fund

Indigo East
Community Development District Adopted Budget
General Fund

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2022	6/30/22	3 Months	9/30/22	FY2023	

Revenues						
Maintenance Assessments	$	254,337	$	252,584	$	1,754	$	254,337	$	254,337	
Interest	$	-	$	15	$	6	$	21	$	-	
Carry Forward Surplus	$	12,378	$	127,548	$	-	$	127,548	$	33,470	
Total Revenues	$	266,715	$	380,147	$	1,760	$	381,907	$	287,808	

Expenditures						
General & Administrative						
Supervisor Fees	$	4,000	$	3,800	$	1,000	$	4,800	$	4,000	
FICA Expense	$	306	$	230	$	77	$	306	$	306	
Engineering	$	1,200	$	7,660	$	1,260	$	8,920	$	1,200	
Trustee Fees	$	2,050	$	2,020	$	-	$	2,020	$	2,050	
Dissemination	$	2,700	$	2,208	$	625	$	2,833	$	2,500	
Arbitrage	$	450	$	450	$	-	$	450	$	450	
Assessment Roll	$	5,000	$	5,000	$	-	$	5,000	$	5,000	
Attorney	$	6,000	$	13,481	$	1,000	$	14,481	$	6,000	
Annual Audit	$	3,800	$	3,700	$	-	$	3,700	$	3,800	
Management Fees	$	7,461	$	5,596	$	1,865	$	7,461	$	7,834	
Information Technology	$	800	$	600	$	200	$	800	$	800	
Website Maintenance	$	600	$	450	$	150	$	600	$	600	
Telephone	$	100	$	-	$	25	$	25	$	100	
Postage	$	1,250	$	147	$	313	$	460	$	625	
Printing & Binding	$	500	$	647	$	125	$	772	$	500	
Insurance	$	7,154	$	6,731	$	-	$	6,731	$	8,077	
Legal Advertising	$	1,000	$	741	$	250	$	991	$	1,000	
Other Current Charges	$	700	$	772	$	270	$	1,042	$	1,200	
Office Supplies	$	200	$	84	$	50	$	134	$	200	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total General & Administrative:	$	45,481	$	54,492	$	7,209	$	61,702	$	46,417	

Operations & Maintenance						
Property Insurance	$	465	$	438	$	-	$	438	$	526	
Water Expense	$	2,700	$	1,652	$	675	$	2,327	$	2,481	
Electric Expense	$	25,432	$	17,232	$	6,358	$	23,590	$	26,473	
Irrigation Repairs	$	2,925	$	259	$	731	$	991	$	2,925	
Retention Ponds/ROW Maintenance	$	169,162	$	109,161	$	53,545	$	162,705	$	186,435	
Plant Replacement	$	2,500	$	1,364	$	625	$	1,989	$	2,500	
Tree Trimming	$	1,000	$	-	$	1,000	$	1,000	$	1,000	
Pressure Washing	$	13,000	$	14,474	$	-	$	14,474	$	15,000	
Well Maintenance/Repairs	$	4,050	$	-	$	4,050	$	4,050	$	4,050	
Contingency	$	-	$	2,621	$	-	$	2,621	$	-	
Total Operations & Maintenance:	$	221,234	$	147,201	$	66,984	$	214,185	$	241,390	
						
Total Expenditures	$	266,715	$	201,693	$	74,193	$	275,886	$	287,808	
						
Excess Revenues/(Expenditures)	$	0	$	178,454	$	(72,433)	$	106,021	$	-	

Net Assessments	
FY2020
$254,337	
FY2021
$254,337	
FY2022
$254,337	
FY2023
$254,337	
	Discounts & Collections (6%)	$16,234	$16,234	$16,234	$16,234	
	Gross Assessments	$270,572	$270,572	$270,572	$270,572	
	
Total Units	
605	
605	
605	
605	
	Assessments per Unit	$447	$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 Truist 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 provides 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 AMTEC, 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 provides 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. Governmental Management Services – Central Florida, LLC provides these systems.

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. Governmental Management Services – Central Florida, LLC provides these services.

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 CA Florida Holdings LLC.

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.

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).

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	$11,244	$134,925	
Everglades Pine Straw 10,100 bales @ $5.10 /bale)			$51,510 	
TOTAL		$186,435	

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.

Contingency
Represents any additional field expense that may not have been provided for in the budget.

Adopted Budget
Debt Service Fund Series 2016

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2022	6/30/22	3 Months	9/30/22	FY2023	

Revenues						
Assessments - Tax Roll	$	83,950	$	82,884	$	1,067	$	83,950	$	83,043	
Assessments - Prepayments	$	-	$	14,585	$	-	$	14,585	$	-	
Interest Income	$	-	$	5	$	-	$	5	$	-	
Carry Forward Surplus	$	103,661	$	103,662	$	-	$	103,662	$	97,065	
Total Revenues	$	187,611	$	201,136	$	1,067	$	202,202	$	180,107	

Expenditures						
Special Call - 11/1	$	15,000	$	20,000	$	-	$	20,000	$	-	
Interest - 11/1	$	20,284	$	20,284	$	-	$	20,284	$	19,153	
Principal - 5/1	$	40,000	$	40,000	$	-	$	40,000	$	45,000	
Interest - 5/1	$	20,284	$	19,853	$	-	$	19,853	$	19,153	
Special Call - 5/1	$	-	$	5,000	$	-	$	5,000	$	-	
Total Expenditures	$	95,569	$	105,138	$	-	$	105,138	$	83,306	
						
Excess Revenues/(Expenditures)	$	92,043	$	95,998	$	1,067	$	97,065	$	96,801	
				
Nov 1, 2023	
$18,366	
				Net Assessments	$83,043	
Discounts & Collections (6%) 	$5,301 	
Gross Assessments	$88,343	

Total Units 		183  Assessments per Unit 	$483 

Series 2016 Special Assessment Bonds Amortization Schedule

Date	Balance	Prinicpal	Interest	Total

11/01/22	$	905,000.00	$	-	$	19,153.13	$	19,153.13	
05/01/23	$	905,000.00	$	45,000.00	$	19,153.13			
11/01/23	$	860,000.00	$	-	$	18,365.63	$	82,518.75	
05/01/24	$	860,000.00	$	45,000.00	$	18,365.63			
11/01/24	$	815,000.00	$	-	$	17,521.88	$	80,887.50	
05/01/25	$	815,000.00	$	50,000.00	$	17,521.88			
11/01/25	$	765,000.00	$	-	$	16,584.38	$	84,106.25	
05/01/26	$	765,000.00	$	50,000.00	$	16,584.38			
11/01/26	$	715,000.00	$	-	$	15,553.13	$	82,137.50	
05/01/27	$	715,000.00	$	55,000.00	$	15,553.13			
11/01/27	$	660,000.00	$	-	$	14,418.75	$	84,971.88	
05/01/28	$	660,000.00	$	55,000.00	$	14,418.75			
11/01/28	$	605,000.00	$	-	$	13,284.38	$	82,703.13	
05/01/29	$	605,000.00	$	55,000.00	$	13,284.38			
11/01/29	$	550,000.00	$	-	$	12,150.00	$	80,434.38	
05/01/30	$	550,000.00	$	60,000.00	$	12,150.00			
11/01/30	$	490,000.00	$	-	$	10,912.50	$	83,062.50	
05/01/31	$	490,000.00	$	60,000.00	$	10,912.50			
11/01/31	$	430,000.00	$	-	$	9,675.00	$	80,587.50	
05/01/32	$	430,000.00	$	65,000.00	$	9,675.00			
11/01/32	$	365,000.00	$	-	$	8,212.50	$	82,887.50	
05/01/33	$	365,000.00	$	65,000.00	$	8,212.50			
11/01/33	$	300,000.00	$	-	$	6,750.00	$	79,962.50	
05/01/34	$	300,000.00	$	70,000.00	$	6,750.00			
11/01/34	$	230,000.00	$	-	$	5,175.00	$	81,925.00	
05/01/35	$	230,000.00	$	75,000.00	$	5,175.00			
11/01/35	$	155,000.00	$	-	$	3,487.50	$	83,662.50	
05/01/36	$	155,000.00	$	75,000.00	$	3,487.50			
11/01/36	$	80,000.00	$	-	$	1,800.00	$	80,287.50	
05/01/37	$	80,000.00	$	80,000.00	$	1,800.00	$	81,800.00	
			$	905,000.00	$	346,087.50	$	1,251,087.50	

Adopted Budget Capital Reserves Fund

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2022	6/30/22	3 Months	9/30/22	FY2023	

Revenues						
Interest Income	$	-	$	1,378	$	360	$	1,738	$	-	
Carry Forward Surplus	$	477,661	$	477,856	$	-	$	477,856	$	355,220	
Total Revenues	$	477,661	$	479,234	$	360	$	479,594	$	355,220	

Expenditures						

Roadway Resurfacing	
$	106,169	
$	2,850	
$	103,319	
$	106,169	
$	-	
DRA Repair	$	-	$	18,205	$	-	$	18,205	$	-	
Total Expenditures	$	106,169	$	21,055	$	103,319	$	124,374	$	-	
						
Excess Revenues/(Expenditures)	$	371,492	$	458,179	$	(102,959)	$	355,220	$	355,220