Isles of Bartram Park Community Development District
Adopted Budget

FY 2021

July 22, 2020

Isles of Bartram Park
Community Development District
GENERAL FUND BUDGET

GENERAL FUND BUDGET

Summary Revenues and Expenditures	Page 1

Narrative – Administrative and Maintenance	Page 2-5

Series 2015 Special Assessments Bonds	Page 6-8

Series 2017 Special Assessments Bonds	Page 9-11

Isles of Bartram Park
Community Development Distric	General Fund

	Adopted
Budget	Acutal
YTD	Projected
Next	Total
Projected	Adopted
Budget	
Description	FY 2020	6/30/20	3 Months	9/30/20	FY 2021	
Revenues						
Developer Contributions	$8,786	$11,843	$0	$11,843	$20,136	
Assessments - Tax Roll	$166,139	$166,026	$114	$166,139	$166,139	
Assessments - Direct Assessments	$30,296	$22,722	$7,574	$30,296	$30,296	
Total Revenues	$205,221	$200,590	$7,688	$208,278	$216,571	

Expenditures						
Administrative						
Supervisors Fees	$4,000	$1,400	$2,000	$3,400	$4,000	
FICA	$306	$107	$153	$260	$306	
Engineering	$6,000	$2,306	$894	$3,200	$6,000	
Dissemination	$7,000	$5,250	$1,750	$7,000	$7,000	
Arbitrage	$600	$600	$600	$1,200	$1,200	
Assessment Roll	$5,000	$5,000	$0	$5,000	$5,000	
Attorney	$10,000	$3,309	$7,000	$10,309	$10,000	
Annual Audit	$4,000	$4,000	$0	$4,000	$4,100	
Trustee Fees	$8,000	$7,333	$0	$7,333	$8,000	
Management Fees	$45,000	$33,750	$11,250	$45,000	$45,000	
Information Technology	$1,600	$1,200	$400	$1,600	$1,600	
Telephone	$150	$7	$21	$28	$150	
Postage	$300	$145	$60	$205	$300	
Insurance	$8,500	$7,843	$0	$7,843	$8,500	
Printing & Binding	$1,300	$333	$967	$1,300	$1,300	
Legal Advertising	$2,000	$0	$2,000	$2,000	$2,000	
Other Current Charges	$750	$200	$300	$500	$500	
Office Supplies	$200	$17	$83	$100	$200	
Dues, Licenses & Subscriptions	$175	$175	$0	$175	$175	
Website ADA Compliance	$1,200	$0	$0	$0	$0	
Total Administrative	$106,081	$72,975	$27,478	$100,453	$105,331	
Field						
Landscape Maintenace	$45,000	$35,999	$14,371	$50,370	$52,600	
Lake Maintenance	$18,840	$13,530	$5,010	$18,540	$24,840	
Waterfall/Entry Pond Maintenance	$5,400	$3,600	$1,350	$4,950	$5,400	
Lake Fountains Maintenance	$1,400	$5,622	$350	$5,972	$1,400	
Management	$6,000	$4,500	$1,500	$6,000	$6,000	
Utilities	$20,000	$7,932	$2,068	$10,000	$20,000	
General Maintenance	$2,500	$0	$2,500	$2,500	$1,000	
Total Field	$99,140	$71,182	$27,150	$98,332	$111,240	
						
Total Expenditures	$205,221	$144,158	$54,627	$198,785	$216,571	
						
Excess Revenues/(Expenditures)	$0	$56,433	($46,940)	$9,493	$0	
						
				Gross	Gross	
	Description		Units	Per Unit	Assesment	
Gross Assement - Tax Collector	616	$339	$208,973	
Less: Discounts & Collections (6%)			($12,538)	
Net Assesment - Tax Collector			$196,435	

GENERAL FUND BUDGET FISCAL YEAR 2021

REVENUES:

Developer Contributions/ Assessments

The District will enter into a Funding Agreement with the Developer and levy maintenance assessments to Fund the General Fund expenditures the Fiscal Year.

EXPENDITURES:

Administrative:

Supervisors Fees

The Florida Statutes allows each Board member to receive $200 per meeting not to exceed $4,800 in one year. The amount for the fiscal year is based upon five supervisors attending 12 monthly meetings.

FICA Expense

Represents the Employer’s share of Social Security and Medicare taxes withheld from the Board of Supervisors checks.

Engineering

The District will contract with England, Thims and Miller as District engineer who provides general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review invoices, etc.

Dissemination Fees

The Annual Disclosure Report prepared by GMS, LLC required by the Security and Exchange Commission in order to comply with Rule 15(c)(2)-12(b)(5), which relates to additional reporting requirements for un-rated bond issues.

Contract	Monthly	Annual	
GMS	$	583	$	7,000	

Arbitrage

The District is required to annually have an arbitrage rebate calculation on the District's Series 2015 & 2017 Special Assessment Revenue Bonds.

Assessment Roll

The District’s assessment roll administration, GMS, LLC, will provide services to prepare assessment rolls to district property owners.

Attorney
The District has contracted with Hopping, Green and Sams as legal counsel who provides general legal services to the District, e.g. attendance and preparation for monthly meetings, preparation and review of agreements, resolutions, 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 contracted with Grau and Associates to prepare  the annual audit.

Trustee Fees

The District issued Series 2015 & Series 2017 Special Assessment Bonds, which are held with a Trustee at The Bank of New York Mellon. The amount of the trustee fees is based on the agreement between BNY and the District.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services, LLC.

Information Technology

The cost related to District’s accounting and information systems, District website creation and maintenance, electronic compliance with Florida Statutes and other electronic data requirements.

Telephone

Telephone and fax machine.

Postage

Mailing of agenda packages, overnight deliveries, correspondence, etc.

Insurance

Represents the estimated cost for public officials and general liability insurance for the District.

Printing & Binding

Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc.

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, amortization schedule charges, and any other miscellaneous expenses incurred during the year.

Office Supplies

Miscellaneous office supplies.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Florida Department of Economic Opportunity for
$175. This is the only expense under this category for the District.

Website Compliance

Per Chapter 2014-22, Laws of Florida, all Districts must have a website by October 1, 2015 to provide detailed information on the CDD as well as links to useful websites regarding Compliance issues. This website will be maintained by GMS, LLC and updated monthly.

Field:

Landscape Maintenance

The District has contracted with a Yellowstone Landscape to provide landscaping and irrigation maintenance services to all the common areas within the District.  Other services includes annual  and plant rotation and mulch installation.

Contract	Monthly	Annual	
Yellowstone Landscape	$	2,670	$	32,035	
Other Services	$	1,714	$	20,565	
	$	4,383	$	52,600	

Lake Maintenance

The District has contracted with vendor The Lake Doctors to provide monthly water management services to all the lakes throughout the District and carp restocking.

Description	Monthly	Annual	
Lake Maintenance	$	1,670	$	20,040	
Triploid Grass Carp	$	-	$	4,800	
Total	$	24,840	

Waterfall/Pond Entry Maintenance

The District has contracted with Crystal Clean to provide maintenance services to waterfalls and  pond at community entrance.

Contract		Monthly		Annual Crystal Clean Pool Service	$		450	$		5,400

Lake Fountains Maintenance

The District has contracted with The Lake Doctors to provide maintenance of fountains in lakes.

Contract	Quarterly	Annual	
The Lake Doctor's	$	350	$	1,400	

Management Company

The District has contracted with Vesta Property Services, Inc. to provide supervision and on-site management services for the District.

Monthly	Annual
$	500	$	6,000

Contract
Vesta

Utilities

Estimated cost for electric, irrigation and water provided by utility company. Also includes cost share for reimbursement of JEA irrigation to Celestina Master HOA.

General Maintenance

Estimated cost for general maintenance services of the district.

Isles of Bartram Park	Debt  Service Fund Community Development  District		Series 2015

	Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Adopted
Budget	
Description	FY 2020	6/30/20	3 Months	9/30/20	FY 2021	
Revenues						
Assessments	$441,260	$402,025	$35,628	$437,653	$433,476	
Interest Income	$100	$3,806	$153	$3,959	$2,000	
Carry Forward Surplus*	$293,607	$312,764	$0	$312,764	$334,698	
Total Revenues	$734,967	$718,595	$35,781	$754,376	$770,174	

Expenditures						
Series 2015						
Interest - 11/01	$156,038	$156,050	$0	$156,050	$153,506	
Principal - 11/01	$110,000	$110,000	$0	$110,000	$110,000	
Interest - 05/01	$153,631	$153,628	$0	$153,628	$151,100	
Total Expenditures	$419,669	$419,678	$0	$419,678	$414,606	
						
Excess Revenues	$315,298	$298,917	$35,781	$334,698	$355,568	

*Reflects excess revenue at fiscal year end less reserve  fund amount	11/1/21 Interest	$151,100
11/1/21  Principal	$115,000

 	$266,100 

Gross	Gross
Residential Type	Units	Per Unit	Assesment	
68'	128	$1,205	$154,226	
73'	110	$1,389	$152,777	
83'	90	$1,371	$123,352	
90'	20	$1,572	$31,436	
Total	348		$461,791	
Less: Discounts & Collections (6%)			$28,315	
Net Annual Assesment			$433,476	

Date	Balance	Principal	Interest	Annual

11/1/20	$ 6,150,000	$	110,000	$	153,506	$	417,013	
5/1/21	$ 6,040,000	$	-	$	151,100	$	-	
11/1/21	$ 6,040,000	$	115,000	$	151,100	$	417,200	
5/1/22	$ 5,925,000	$	-	$	148,584	$	-	
11/1/22	$ 5,925,000	$	120,000	$	148,584	$	417,169	
5/1/23	$ 5,805,000	$	-	$	145,959	$	-	
11/1/23	$ 5,805,000	$	130,000	$	145,959	$	421,919	
5/1/24	$ 5,675,000	$	-	$	143,116	$	-	
11/1/24	$ 5,675,000	$	135,000	$	143,116	$	421,231	
5/1/25	$ 5,540,000	$	-	$	140,163	$	-	
11/1/25	$ 5,540,000	$	140,000	$	140,163	$	420,325	
5/1/26	$ 5,400,000	$	-	$	137,100	$	-	
11/1/26	$ 5,400,000	$	160,000	$	137,100	$	434,200	
5/1/27	$ 5,240,000	$	-	$	133,100	$	-	
11/1/27	$ 5,240,000	$	170,000	$	133,100	$	436,200	
5/1/28	$ 5,070,000	$	-	$	128,850	$	-	
11/1/28	$ 5,070,000	$	180,000	$	128,850	$	437,700	
5/1/29	$ 4,890,000	$	-	$	124,350	$	-	
11/1/29	$ 4,890,000	$	190,000	$	124,350	$	438,700	
5/1/30	$ 4,700,000	$	-	$	119,600	$	-	
11/1/30	$ 4,700,000	$	195,000	$	119,600	$	434,200	
5/1/31	$ 4,505,000	$	-	$	114,725	$	-	
11/1/31	$ 4,505,000	$	205,000	$	114,725	$	434,450	
5/1/32	$ 4,300,000	$	-	$	109,600	$	-	
11/1/32	$ 4,300,000	$	220,000	$	109,600	$	439,200	
5/1/33	$ 4,080,000	$	-	$	104,100	$	-	
11/1/33	$ 4,080,000	$	230,000	$	104,100	$	438,200	
5/1/34	$ 3,850,000	$	-	$	98,350	$	-	
11/1/34	$ 3,850,000	$	240,000	$	98,350	$	436,700	
5/1/35	$ 3,610,000	$	-	$	92,350	$	-	
11/1/35	$ 3,610,000	$	250,000	$	92,350	$	434,700	

Date	Balance	Principal	Interest	Annual

5/1/36	$ 3,360,000	$	-	$	86,100	$	-	
11/1/36	$ 3,360,000	$	265,000	$	86,100	$	437,200	
5/1/37	$ 3,095,000	$	-	$	79,309	$	-	
11/1/37	$ 3,095,000	$	280,000	$	79,309	$	438,619	
5/1/38	$ 2,815,000	$	-	$	72,134	$	-	
11/1/38	$ 2,815,000	$	295,000	$	72,134	$	439,269	
5/1/39	$ 2,520,000	$	-	$	64,575	$	-	
11/1/39	$ 2,520,000	$	310,000	$	64,575	$	439,150	
5/1/40	$ 2,210,000	$	-	$	56,631	$	-	
11/1/40	$ 2,210,000	$	325,000	$	56,631	$	438,263	
5/1/41	$ 1,885,000	$	-	$	48,303	$	-	
11/1/41	$ 1,885,000	$	340,000	$	48,303	$	436,606	
5/1/42	$ 1,545,000	$	-	$	39,591	$	-	
11/1/42	$ 1,545,000	$	360,000	$	39,591	$	439,181	
5/1/43	$ 1,185,000	$	-	$	30,366	$	-	
11/1/43	$ 1,185,000	$	375,000	$	30,366	$	435,731	
5/1/44	$	810,000	$	-	$	20,756	$	-	
11/1/44	$	810,000	$	395,000	$	20,756	$	436,513	
5/1/45	$	415,000	$	-	$	10,634	$	-	
11/1/45	$	415,000	$	415,000	$	10,634	$	436,269	

Totals	$ 6,150,000	$ 4,952,400	$ 10,838,894

Isles of Bartram Park	Debt  Service Fund Community Development  District		Series 2017

	Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Adopted
Budget	
Description	FY 2020	6/30/20	3 Months	9/30/20	FY 2021	

Revenues						
Assessments	$344,788	$290,902	$53,885	$344,788	$344,195	
Prepayment	$0	$0	$0	$0	$0	
Interest Income	$2,000	$2,660	$102	$2,762	$2,000	
Carry Forward Surplus*	$237,492	$239,370	$0	$239,370	$244,032	
Total Revenues	$584,280	$532,932	$53,987	$586,919	$590,227	

Expenditures						
Series 2017						
Interest - 11/01	$122,325	$122,325	$0	$122,325	$120,563	
Principal - 11/01	$95,000	$95,000	$0	$95,000	$100,000	
Prepayment - 11/01	$0	$5,000	$0	$5,000	$0	
Interest - 05/01	$120,663	$120,563	$0	$120,563	$118,813	
Total Expenditures	$337,988	$342,888	$0	$342,888	$339,375	
						
Excess Revenues	$246,292	$190,044	$53,987	$244,032	$250,852	

*Reflects excess revenue at fiscal year end less reserve  fund amount	11/1/21 Interest	$118,813
11/1/21  Principal	$100,000

 	$218,813 

Gross	Gross
Residential Type	Units	Per Unit	Assesment	
68'	80	$1,205.13	$96,410.40	
73'	86	$1,388.88	$119,443.68	
83'	88	$1,458.02	$128,305.76	
90'	14	$1,571.78	$22,004.92	
Total	268		$366,165	
Less: Discounts & Collections (6%)			$21,970	
Net Annual Assesment			$344,195	

Date

Balance

Principal

Interest

Annual

11/1/20	$ 5,155,000	$	100,000	$	120,563	$	341,125	
5/1/21	$ 5,055,000		$	118,813	$	-	
11/1/21	$ 5,055,000	$	100,000	$	118,813	$	337,625	
5/1/22	$ 4,955,000		$	117,063	$	-	
11/1/22	$ 4,850,000	$	105,000	$	117,063	$	339,125	
5/1/23	$ 4,850,000		$	115,225	$	-	
11/1/23	$ 4,850,000	$	110,000	$	115,225	$	340,450	
5/1/24	$ 4,740,000		$	113,025	$	-	
11/1/24	$ 4,740,000	$	115,000	$	113,025	$	341,050	
5/1/25	$ 4,625,000		$	110,725	$	-	
11/1/25	$ 4,625,000	$	120,000	$	110,725	$	341,450	
5/1/26	$ 4,505,000		$	108,325	$	-	
11/1/26	$ 4,505,000	$	120,000	$	108,325	$	336,650	
5/1/27	$ 4,385,000		$	105,925	$	-	
11/1/27	$ 4,385,000	$	125,000	$	105,925	$	336,850	
5/1/28	$ 4,260,000		$	103,425	$	-	
11/1/28	$ 4,260,000	$	135,000	$	103,425	$	341,850	
5/1/29	$ 4,125,000		$	100,303	$	-	
11/1/29	$ 4,125,000	$	140,000	$	100,303	$	340,606	
5/1/30	$ 3,985,000		$	97,066	$	-	
11/1/30	$ 3,985,000	$	145,000	$	97,066	$	339,131	
5/1/31	$ 3,840,000		$	93,713	$	-	
11/1/31	$ 3,840,000	$	150,000	$	93,713	$	337,425	
5/1/32	$ 3,690,000		$	90,244	$	-	
11/1/32	$ 3,690,000	$	160,000	$	90,244	$	340,488	
5/1/33	$ 3,530,000		$	86,544	$	-	
11/1/33	$ 3,530,000	$	165,000	$	86,544	$	338,088	
5/1/34	$ 3,365,000		$	82,728	$	-	
11/1/34	$ 3,365,000	$	175,000	$	82,728	$	340,456	
5/1/35	$ 3,190,000		$	78,681	$	-	
11/1/35	$ 3,190,000	$	180,000	$	78,681	$	337,363	

Date	Balance	Principal	Interest	Annual

5/1/36	$ 3,010,000		$	74,519	$	-	
11/1/36	$ 3,010,000	$	190,000	$	74,519	$	339,038	
5/1/37	$ 2,820,000		$	70,125	$	-	
11/1/37	$ 2,820,000	$	200,000	$	70,125	$	340,250	
5/1/38	$ 2,620,000		$	65,500	$	-	
11/1/38	$ 2,620,000	$	210,000	$	65,500	$	341,000	
5/1/39	$ 2,410,000		$	60,250	$	-	
11/1/39	$ 2,410,000	$	220,000	$	60,250	$	340,500	
5/1/40	$ 2,190,000		$	54,750	$	-	
11/1/40	$ 2,190,000	$	230,000	$	54,750	$	339,500	
5/1/41	$ 1,960,000		$	49,000	$	-	
11/1/41	$ 1,960,000	$	240,000	$	49,000	$	338,000	
5/1/42	$ 1,720,000		$	43,000	$	-	
11/1/42	$ 1,720,000	$	255,000	$	43,000	$	341,000	
5/1/43	$ 1,465,000		$	36,625	$	-	
11/1/43	$ 1,465,000	$	265,000	$	36,625	$	338,250	
5/1/44	$ 1,200,000		$	30,000	$	-	
11/1/44	$ 1,200,000	$	280,000	$	30,000	$	340,000	
5/1/45	$	920,000		$	23,000	$	-	
11/1/45	$	920,000	$	295,000	$	23,000	$	341,000	
5/1/46	$	625,000		$	15,625	$	-	
11/1/46	$	625,000	$	305,000	$	15,625	$	336,250	
5/1/47	$	320,000		$	8,000	$	-	
11/1/47	$	320,000	$	320,000	$	8,000	$	336,000	

Totals	$ 5,155,000	$ 4,466,081	$ 9,621,082