Fiscal Year 2018 Adopted Budget Fiscal Year 2019 Approved Budget

Cypress Bluff Community Development District

Cypress Bluff
Community Development District

TABLE OF CONTENTS

General Fund
Budget	Page 1
Narrative	Page 2-3

Cypress Bluff
Community Development District

(1) Expenditures related to the issuance of Bonds.

(1)

	Adopted		Approved	
	  FY 2018 Budget 		  FY 2019 Budget 	
Revenues				
Developer Contributions	$48,150		$116,675	
Total Revenues	 	$48,150 		 	$116,675 	

Expenditures				
Administrative				
Engineering	$3,750		$15,000	
Arbitrage	$0		$600	
Dissemination Agent	$0		$3,500	
Attorney	$5,000		$20,000	
Annual Audit	$5,000		$5,000	
Trustee Fees	$0		$4,000	
Management Fees	$11,250		$45,000	
Construction Accounting	$0		$3,500	
Information Technology	$300		$1,200	
Telephone	$100		$300	
Postage	$375		$1,500	
Printing & Binding	$250		$1,000	
Insurance	$3,000		$5,800	
Legal Advertising	$3,500		$4,000	
Other Current Charges	$200		$600	
Office Supplies	$250		$1,000	
Dues, Licenses & Subscriptions	$175		$175	
Website design/compliance	$15,000		$4,500	
Total Expenditures	 	$48,150 		 	$116,675 	
Excess Revenues (Expenditures)	 	$0 		 	$0 	

(1)

(1)

Page 1

Cypress Bluff
Community Development District General Fund Budget
FY 2019

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:

Engineering Fees
The District’s engineering firm, England Thims, and Miller, will be providing general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review invoices, etc.

Arbitrage
The District is required to annually have an arbitrage rebate calculation on all Bonds.

Dissemination Agent
The District is required by the Security and Exchange Commission to comply with Rule 15(c)(2)-­‐12(b)(5), which relates to additional reporting requirements for un-­‐rated bond issues.

Attorney
The District’s legal counsel, Hopping Green and Sams, will be providing general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating & 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.

Trustee Fees
The amount represents the fee for the administration of the District’s bond issue.

Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services, LLC. These services are further outlined in Exhibit “A” of the Management Agreement.

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Construction Accounting
The District receives annual constriction account services as part of a Management Agreement with Governmental Management Services, LLC.

Information Technology
The cost related to District’s accounting and information systems.
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 (FIA). The amount is based upon prior year’s premiums.

Legal Advertising
The District is required to advertise various notices for Board meetings, public hearings etc. in a newspaper of general circulation.

Other Current Charges
This includes bank charges and any other miscellaneous expenses that are incurred during the year by the District.

Office Supplies
Miscellaneous office supplies.

Dues, Licenses & Subscriptions
The District is required to pay an annual fee to the Department of Community Affairs for $175. This is the only expense under this category for the District.

Website Design/Compliance
Cost related to District website creation and maintenance, electronic compliance with Florida Statutes and other electronic data requirements.

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