Isles of Bartram Park Community Development District
Adopted Budget

FY 2023

August 17, 2022

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

DESCRIPTION	
Units	Gross
Per Unit	Gross
Per Unit	Gross Per Unit
Increase	Gross
Assesment	Gross
Assesment	
Gross Assement - Tax Collector	635	$397	$481	$84	$252,152	$305,344	
Less: Discounts & Collections (6%)					($15,129)	($18,321)	
Net Assesment - Tax Collector		$84	$237,023	$287,023	

Isles of Bartram Park
Community Development District	General Fund

	Adopted
Budget	Acutal
YTD	Projected
Next	Total
Projected	Adopted
Budget	
Description	FY 2022	6/30/22	3 Months	9/30/22	FY 2023	

Revenues						
Assessments	$237,023	$237,502	$0	$237,502	$287,023	
Developer Contributions	$0	$14,510	$0	$14,510	$0	
Carryforward Surplus	$0	$0	$0	$0	$1,746	
Total Revenues	$237,023	$252,012	$0	$252,012	$288,769	

Expenditures						
Administrative						
Supervisors Fees	$4,000	$2,800	$1,000	$3,800	$4,000	
FICA	$306	$214	$77	$291	$306	
Engineering	$6,000	$3,771	$1,000	$4,771	$6,000	
Dissemination	$7,000	$5,250	$1,750	$7,000	$7,000	
Arbitrage	$1,200	$600	$600	$1,200	$1,200	
Assessment Roll	$5,000	$5,000	$0	$5,000	$5,000	
Attorney	$10,000	$3,793	$3,207	$7,000	$10,000	
Annual Audit	$4,200	$3,800	$0	$3,800	$3,900	
Trustee Fees	$8,000	$7,333	$667	$8,000	$8,000	
Management Fees	$46,800	$35,100	$11,700	$46,800	$49,140	
Information Technology	$1,200	$900	$300	$1,200	$1,400	
Website Maintenance	$800	$600	$200	$800	$950	
Telephone	$150	$16	$50	$66	$150	
Postage	$300	$274	$436	$711	$500	
Insurance	$9,292	$8,957	$0	$8,957	$10,748	
Printing & Binding	$1,300	$306	$506	$813	$1,300	
Legal Advertising	$2,000	$293	$350	$643	$1,400	
Other Current Charges	$500	$485	$375	$860	$900	
Office Supplies	$200	$24	$15	$40	$200	
Dues, Licenses & Subscriptions	$175	$175	$0	$175	$175	
Total Administrative	$108,423	$79,692	$22,233	$101,925	$112,269	
Field						
Landscape Maintenace	$57,800	$42,545	$13,572	$56,117	$57,800	
Lake Maintenance	$25,800	$16,630	$9,810	$26,440	$25,800	
Waterfall/Entry Pond Maintenance	$6,600	$6,218	$2,166	$8,384	$8,500	
Lake Fountains Maintenance (Lake Doctors)	$11,400	$6,468	$0	$6,468	$11,400	
Management	$6,000	$4,500	$1,500	$6,000	$6,000	
Utilities	$20,000	$5,518	$5,000	$10,518	$15,000	
General Maintenance	$1,000	$2,050	$0	$2,050	$2,000	
Capital Reserve Fund	$0	$0	$0	$0	$50,000	
Total Field	$128,600	$83,929	$32,048	$115,978	$176,500	
						
Total Expenditures	$237,023	$163,621	$54,282	$217,903	$288,769	
						
Excess Revenues/(Expenditures)	$0	$88,391	($54,282)	$34,109	$0	

FY 2022	

FY 2023		

FY 2022	

FY 2023	

GENERAL FUND BUDGET FISCAL YEAR 2022

REVENUES:

Assessments

The District will levy a non-ad-valorem maintenance assessment on all taxable property within the District to fund all of the General Operating Expenditures for 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
GMS

Monthly	Annual
$	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

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, correspondence, etc.

Insurance

Represents the estimated cost for public officials, general liability, and property 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.

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	$	2,750	$	32,996	
Other Services	$	1,714	$	20,565	
Contingency	$	353	$	4,239	
	$	4,817	$	57,800	

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 Contingency	 $		80	$		960 
Total	$	1,750	$	25,800	

Waterfall/Pond Entry Maintenance

The District has contracted with Innovative Fountain Services to provide maintenance services to waterfalls and pond at community entrance.

Contract	Monthly	Annual	
Innovative Fountain Services	$	385	$	4,620	
Contingency	 $	165	 $	1,980	
	$	550	$	6,600	

Lake Fountains Maintenance

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

Contract
The Lake Doctor's Contingency

Quarterly

$

350

Annual
$	1,400

  $	2,500	$	10,000 

$	2,850	$	11,400

Management Company

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

Contract
Vesta

Monthly	Annual
$	500	$	6,000

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 2022	6/30/22	3 Months	9/30/22	FY 2023	

Revenues						
Assessments	$432,170	$430,638	$0	$430,638	$429,732	
Interest Income	$50	$406	$1,180	$1,586	$1,400	
Carry Forward Surplus*	$371,502	$376,547	$0	$376,547	$290,112	
Total Revenues	$803,722	$807,591	$1,180	$808,771	$721,244	

Expenditures						
Series 2015						
Interest - 11/01	$150,841	$150,841	$0	$150,841	$145,659	
Principal - 11/01	$115,000	$115,000	$0	$115,000	$120,000	
Prepayment - 11/01	$32,000	$20,000	$0	$20,000	$0	
Interest - 05/01	$148,325	$147,819	$0	$147,819	$143,034	
Prepayment - 05/01	$0	$85,000	$0	$85,000	$0	
Total Expenditures	$446,166	$518,659	$0	$518,659	$408,694	
						
Excess Revenues	$357,556	$288,932	$1,180	$290,112	$312,550	

*Reflects excess revenue at fiscal year end less reserve fund amount	11/1/23 Interest	$143,034
11/1/23 Principal	$130,000
	$273,034 

Gross	Gross
Residential Type	Units	Per Unit	Assesment	
68'	126	$1,205	$151,816	
73'	106	$1,388	$147,163	
83'	88	$1,458	$128,319	
90'	19	$1,572	$29,864	
Total	339		$457,162	
Less: Discounts & Collections (6%)			$27,430	
Net Annual Assesment			$429,732	

11/1/22	$ 5,810,000	$	120,000	$	145,659	$	265,659	
5/1/23	$ 5,690,000	$	-	$	143,034	$	-	
11/1/23	$ 5,690,000	$	130,000	$	143,034	$	416,069	
5/1/24	$ 5,560,000	$	-	$	140,191	$	-	
11/1/24	$ 5,560,000	$	135,000	$	140,191	$	415,381	
5/1/25	$ 5,425,000	$	-	$	137,238	$	-	
11/1/25	$ 5,425,000	$	140,000	$	137,238	$	414,475	
5/1/26	$ 5,285,000	$	-	$	134,175	$	-	
11/1/26	$ 5,285,000	$	160,000	$	134,175	$	428,350	
5/1/27	$ 5,125,000	$	-	$	130,175	$	-	
11/1/27	$ 5,125,000	$	165,000	$	130,175	$	425,350	
5/1/28	$ 4,960,000	$	-	$	126,050	$	-	
11/1/28	$ 4,960,000	$	175,000	$	126,050	$	427,100	
5/1/29	$ 4,785,000	$	-	$	121,675	$	-	
11/1/29	$ 4,785,000	$	185,000	$	121,675	$	428,350	
5/1/30	$ 4,600,000	$	-	$	117,050	$	-	
11/1/30	$ 4,600,000	$	195,000	$	117,050	$	429,100	
5/1/31	$ 4,405,000	$	-	$	112,175	$	-	
11/1/31	$ 4,405,000	$	205,000	$	112,175	$	429,350	
5/1/32	$ 4,200,000	$	-	$	107,050	$	-	
11/1/32	$ 4,200,000	$	215,000	$	107,050	$	429,100	
5/1/33	$ 3,985,000	$	-	$	101,675	$	-	
11/1/33	$ 3,985,000	$	225,000	$	101,675	$	428,350	
5/1/34	$ 3,760,000	$	-	$	96,050	$	-	
11/1/34	$ 3,760,000	$	235,000	$	96,050	$	427,100	
5/1/35	$ 3,525,000	$	-	$	90,175	$	-	
11/1/35	$ 3,525,000	$	245,000	$	90,175	$	425,350	

5/1/36	$ 3,280,000	$	-	$	84,050	$	-	
11/1/36	$ 3,280,000	$	260,000	$	84,050	$	428,100	
5/1/37	$ 3,020,000	$	-	$	77,388	$	-	
11/1/37	$ 3,020,000	$	275,000	$	77,388	$	429,775	
5/1/38	$ 2,745,000	$	-	$	70,341	$	-	
11/1/38	$ 2,745,000	$	285,000	$	70,341	$	425,681	
5/1/39	$ 2,460,000	$	-	$	63,038	$	-	
11/1/39	$ 2,460,000	$	300,000	$	63,038	$	426,075	
5/1/40	$ 2,160,000	$	-	$	55,350	$	-	
11/1/40	$ 2,160,000	$	315,000	$	55,350	$	425,700	
5/1/41	$ 1,845,000	$	-	$	47,278	$	-	
11/1/41	$ 1,845,000	$	335,000	$	47,278	$	429,556	
5/1/42	$ 1,510,000	$	-	$	38,694	$	-	
11/1/42	$ 1,510,000	$	350,000	$	38,694	$	427,388	
5/1/43	$ 1,160,000	$	-	$	29,725	$	-	
11/1/43	$ 1,160,000	$	370,000	$	29,725	$	429,450	
5/1/44	$	790,000	$	-	$	20,244	$	-	
11/1/44	$	790,000	$	385,000	$	20,244	$	425,488	
5/1/45	$	405,000	$	-	$	10,378	$	-	
11/1/45	$	405,000	$	405,000	$	10,378	$	425,756	
Totals		$ 5,810,000	$ 4,252,053	$ 10,062,053	

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

	Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Adopted
Budget	
Description	FY 2022	6/30/22	3 Months	9/30/22	FY 2023	

Revenues						
Assessments	$341,479	$342,199	$0	$342,199	$341,479	
Interest Income	$35	$309	$936	$1,245	$1,000	
Carry Forward Surplus*	$238,817	$242,091	$0	$242,091	$234,660	
Total Revenues	$580,331	$584,599	$936	$585,535	$577,139	

Expenditures						
Series 2017						
Interest - 11/01	$118,813	$118,813	$0	$118,813	$116,697	
Principal - 11/01	$100,000	$100,000	$0	$100,000	$105,000	
Interest - 05/01	$117,063	$117,063	$0	$117,063	$114,859	
Prepayment - 05/01	$0	$15,000	$0	$15,000	$0	
Total Expenditures	$335,875	$350,875	$0	$350,875	$336,556	
						
Excess Revenues	$244,456	$233,724	$936	$234,660	$240,583	

*Reflects excess revenue at fiscal year end less reserve fund amount	11/1/23 Interest	$114,859
11/1/23 Principal	$110,000
	$224,859 

Gross	Gross
Residential Type	Units	Per Unit	Assesment	
68'	79	$1,205	$95,205	
73'	85	$1,389	$118,055	
83'	87	$1,458	$126,848	
83'	1	$1,165	$1,165	
90'	14	$1,572	$22,002	
Total	266		$363,276	
Less: Discounts & Collections (6%)			$21,797	
Net Annual Assesment			$341,479	

Date	Balance	Principal	Interest	Annual

11/1/22	$ 4,835,000	$	105,000	$	116,697	$	221,697	
5/1/23	$ 4,835,000		$	114,859	$	-	
11/1/23	$ 4,835,000	$	110,000	$	114,859	$	339,719	
5/1/24	$ 4,725,000		$	112,659	$	-	
11/1/24	$ 4,725,000	$	115,000	$	112,659	$	340,319	
5/1/25	$ 4,610,000		$	110,359	$	-	
11/1/25	$ 4,610,000	$	120,000	$	110,359	$	340,719	
5/1/26	$ 4,490,000		$	107,959	$	-	
11/1/26	$ 4,490,000	$	120,000	$	107,959	$	335,919	
5/1/27	$ 4,370,000		$	105,559	$	-	
11/1/27	$ 4,370,000	$	125,000	$	105,559	$	336,119	
5/1/28	$ 4,245,000		$	103,059	$	-	
11/1/28	$ 4,245,000	$	130,000	$	103,059	$	336,119	
5/1/29	$ 4,115,000		$	100,053	$	-	
11/1/29	$ 4,115,000	$	140,000	$	100,053	$	340,106	
5/1/30	$ 3,975,000		$	96,816	$	-	
11/1/30	$ 3,975,000	$	145,000	$	96,816	$	338,631	
5/1/31	$ 3,830,000		$	93,463	$	-	
11/1/31	$ 3,830,000	$	150,000	$	93,463	$	336,925	
5/1/32	$ 3,680,000		$	89,994	$	-	
11/1/32	$ 3,680,000	$	160,000	$	89,994	$	339,988	
5/1/33	$ 3,520,000		$	86,294	$	-	
11/1/33	$ 3,520,000	$	165,000	$	86,294	$	337,588	
5/1/34	$ 3,355,000		$	82,478	$	-	
11/1/34	$ 3,355,000	$	175,000	$	82,478	$	339,956	
5/1/35	$ 3,180,000		$	78,431	$	-	
11/1/35	$ 3,180,000	$	180,000	$	78,431	$	336,863	

Date	Balance	Principal	Interest	Annual

5/1/36	$ 3,000,000		$	74,269	$	-	
11/1/36	$ 3,000,000	$	190,000	$	74,269	$	338,538	
5/1/37	$ 2,810,000		$	69,875	$	-	
11/1/37	$ 2,810,000	$	200,000	$	69,875	$	339,750	
5/1/38	$ 2,610,000		$	65,250	$	-	
11/1/38	$ 2,610,000	$	210,000	$	65,250	$	340,500	
5/1/39	$ 2,400,000		$	60,000	$	-	
11/1/39	$ 2,400,000	$	220,000	$	60,000	$	340,000	
5/1/40	$ 2,180,000		$	54,500	$	-	
11/1/40	$ 2,180,000	$	230,000	$	54,500	$	339,000	
5/1/41	$ 1,950,000		$	48,750	$	-	
11/1/41	$ 1,950,000	$	240,000	$	48,750	$	337,500	
5/1/42	$ 1,710,000		$	42,750	$	-	
11/1/42	$ 1,710,000	$	250,000	$	42,750	$	335,500	
5/1/43	$ 1,460,000		$	36,500	$	-	
11/1/43	$ 1,460,000	$	265,000	$	36,500	$	338,000	
5/1/44	$ 1,195,000		$	29,875	$	-	
11/1/44	$ 1,195,000	$	280,000	$	29,875	$	339,750	
5/1/45	$	915,000		$	22,875	$	-	
11/1/45	$	915,000	$	290,000	$	22,875	$	335,750	
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	$ 4,940,000	$ 3,737,203	$	8,677,203