Deer Run
Community Development District

Adopted Budget
FY 2020

Table of Contents

General Fund	Page 1-2

General Fund Assessment Table	Page 3

General Fund Narrative	Page 4-11

Debt Service Fund - Series 2018	Page 12

Series 2018 Amortization Schedule	Page 13

DESCRIPTION	ADOPTED
FY2019 BUDGET	ACTUAL
THRU 7/31/19	PROJECTED
NEXT 2 MONTH	TOTAL
AS OF 9/30/19	ADOPTED
FY2020 BUDGET	

Revenues						
Assessments	$277,834	$277,215	$619	$277,834	$566,820	
Golf Course Lake Maintenance Contribution	$4,800	$3,015	$1,005	$4,020	$4,800	
Developer Contributions	$0	$32,532	$11,452	$43,984	$0	
TOTAL REVENUES	$282,634	$312,762	$13,076	$325,838	$571,620	

Expenditures						
Administrative						
Supervisor Fees	$4,000	$1,800	$2,000	$3,800	$4,000	
FICA Expense	$306	$122	$150	$272	$306	
Engineering	$3,550	$1,970	$1,500	$3,470	$3,550	
Dissemination	$2,500	$2,083	$417	$2,500	$2,500	
Attorney	$20,000	$12,892	$6,000	$18,892	$12,000	
Annual Audit	$3,270	$3,270	$0	$3,270	$3,270	
Trustee Fees	$3,500	$0	$3,500	$3,500	$3,500	
Arbitrage	$450	$450	$0	$450	$450	
Assessment Roll Services	$2,500	$2,500	$0	$2,500	$2,500	
Management Fees	$30,000	$25,000	$5,000	$30,000	$30,900	
Information Technology	$1,000	$833	$167	$1,000	$1,000	
Telephone	$100	$64	$20	$84	$100	
Postage	$600	$174	$60	$234	$600	
Insurance	$8,200	$5,880	$0	$5,880	$6,500	
Printing & Binding	$800	$255	$200	$455	$800	
Travel Per Diem	$600	$66	$66	$132	$600	
Legal Advertising	$500	$1,193	$500	$1,693	$1,000	
Other Current Charges	$800	$870	$0	$870	$800	
Office Supplies	$100	$22	$40	$62	$100	
Dues, Licenses & Subscriptions	$175	$175	$0	$175	$175	
Total Administrative	$82,951	$59,619	$19,620	$79,238	$74,651	

Maintenance						
Field Management	$15,000	$12,500	$2,500	$15,000	$30,000	
Electric	$31,384	$31,809	$6,000	$37,809	$39,500	
Water & Sewer	$7,800	$7,196	$2,400	$9,596	$10,000	
Landscape Maintenance	$100,000	$74,854	$17,446	$92,300	$100,000	
Landscape Contingency	$6,000	$4,332	$1,668	$6,000	$6,000	
Lake Maintenance	$17,000	$12,800	$2,560	$15,360	$23,520	
Water Feature Maintenance	$12,500	$3,477	$7,000	$10,477	$12,500	
Irrigation Repairs	$10,000	$21,574	$0	$21,574	$10,000	
Contingency	$0	$105	$500	$605	$1,300	
Total Maintenance	$199,683	$168,647	$40,074	$208,721	$232,819	

DESCRIPTION	ADOPTED
FY2019 BUDGET	ACTUAL
THRU 7/31/19	PROJECTED
NEXT 2 MONTH	TOTAL
AS OF 9/30/19	ADOPTED
FY2020 BUDGET	

Amenity Center						
Amenities Management	$0	$0	$8,369	$8,369	$78,750	
Property Insurance	$0	$1,521	$3,458	$4,979	$15,000	
Pool Maintenance	$0	$0	$4,167	$4,167	$18,492	
Pool Chemicals	$0	$0	$1,500	$1,500	$9,000	
Janitorial Services	$0	$0	$4,333	$4,333	$18,720	
Pest Control	$0	$0	$420	$420	$2,500	
Facilities Maintenance	$0	$0	$4,167	$4,167	$25,000	
Cable, Internet & Telephone Services	$0	$0	$450	$450	$4,200	
Electric - Amenities	$0	$0	$5,000	$5,000	$30,000	
Water & Sewer - Amenities	$0	$0	$600	$600	$3,600	
Gas Service	$0	$0	$45	$45	$500	
Trash Removal	$0	$0	$400	$400	$2,400	
Security Monitoring	$0	$0	$250	$250	$1,500	
Access Cards	$0	$0	$500	$500	$1,000	
Operating Supplies	$0	$0	$200	$200	$1,000	
Amenity Repairs & Maintenance	$0	$0	$0	$0	$5,000	
Pool Repairs & Maintenance	$0	$0	$0	$0	$5,000	
Special Events	$0	$0	$0	$0	$15,000	
Holiday Décor	$0	$0	$0	$0	$4,000	
Fitness Center Repairs & Maintenance	$0	$0	$0	$0	$2,500	
Office Supplies	$0	$0	$1,500	$1,500	$1,000	
ASCAP/BMI Licenses	$0	$0	$0	$0	$1,200	
Contingency	$0	$0	$1,000	$1,000	$18,788	
Total Amenity Center	$0	$1,521	$36,359	$37,880	$264,150	
						
TOTAL EXPENDITURES	$282,634	$229,786	$96,052	$325,838	$571,620	
						
EXCESS REVENUES/(EXPENDITURES)	$0	$82,976	($82,976)	$0	($0)	
				
Net Assessments	
$566,820	
Add: Discounts & Collections 		$34,009 Gross Assessments 	$600,830 

Operations & Maintenance Assessments - No Amenities

Lot Size	
No. of Units	

ERU Value	
Total
ERU's	%	FY20 Total Net  Assessments	
Per Unit Assessment	

40'	
444	
0.54	
237.98	
44.51%	
$134,727.72	
$303.44	
50'	338	0.67	226.46	42.36%	$128,205.90	$379.31	
75'	61	1	61	11.41%	$34,533.96	$566.13	
Commercial	15	0.5	7.5	1.40%	$4,245.98	$283.07	
Golf Course	1	1.69	1.69	0.32%	$956.76	$956.76	

 	534.63			

 $302,670.32 		

Operations & Maintenance Assessments - Amenities

Lot Size	
No. of Units	

ERU	

Value	
Total
ERU's	%	FY20 Total Net  Assessments	
Per Unit Assessment	

40'	
444	
1	
444	
52.67%	
$139,125.27	
$313.35	
50'	338	1	338	40.09%	$105,910.68	$313.35	
75'	61	1	61	7.24%	$19,114.06	$313.35	
Commercial	15	0	0	0.00%	$0.00	$0.00	
Golf Course	1	0	0	0.00%	$0.00	$0.00	
			 	843			

 $264,150.00 		

Operations & Maintenance Assessments - Combined

Lot Size	
No. of Units	FY20 Total Net  Assessments	FY20 Per
Unit Assessment	FY19 Per
Unit Assessment	

40'	
444	
$273,852.99	
$616.79	
$297.10	
50'	338	$234,116.58	$692.65	$366.79	
75'	61	$53,648.01	$879.48	$550.18	
Commercial	15	$4,245.98	$283.07	$0.28	
Golf Course	1	$956.76	$956.76	$0.28	

 $566,820.32 			

REVENUES:
Assessments

The District will levy a non-ad valorem special assessment on taxable property within the District to fund all general operating and maintenance expenditures for the Fiscal Year. It will also enter into a Deficit Funding Agreement with landowner to fund the District’s general operating and maintenance expenses throughout the fiscal year.

Golf Course Lake Maintenance Contribution

The District’s Lake Maintenance expense will be partially funded by contributions from the Golf Course.

EXPENDITURES:
Administrative:

Supervisor Fees

The Florida Statutes allows each supervisor to be paid per meeting, for the time devoted to District business and board meetings. The amount is based upon 5 Supervisors attending 4 meetings during the fiscal year.

FICA Expense

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

Engineering

The District's engineer, Dewberry Engineers, Inc., will be providing general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review invoices, etc.

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 has contracted with Lerner Reporting Services.

Attorney

The District's legal counsel, Hopping, Green & Sams, will be providing 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 by Florida Statutes to arrange for an independent audit of its financial records on an annual basis. The District is contracted with Berger, Toombs, Elam Gaines & Frank to provide this service.

Trustee Fees

The District’s Series 2008 Capital Improvement Revenue Bonds are held with a Trustee at Regions Bank.

Arbitrage

The District will contract with an independent certified public accountant, to annually calculate the District's Arbitrage Rebate Liability once the Bonds are issued. The District has contracted with AMTEC Corporation to provide this service.

Assessment Roll Services

Represents cost associated with certifying, invoicing and collections of annual operations and maintenance and debt service assessments.

Management Fees

The District has contracted with Governmental Management Services - Central Florida, LLC to provide Management, Accounting and Recording Secretary Services for the District. The services include, but are not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financials reporting, annual audits, etc.

Information Technology

The District incurs costs related to the District’s accounting and information systems, District’s 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, checks for vendors, and any other required correspondence, etc.

Insurance

Represents the District’s general liability, public officials liability and property insurance coverage, which is provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Printing & Binding

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

Travel Per Diem

The Board of Supervisors can be reimbursed for travel expenditures related to the conducting of District business.

Legal Advertising

Advertising of monthly board meetings, public hearings, and any services that are required to be advertised for public bidding, i.e. audit services, engineering service, maintenance contracts and any other advertising that may be required.

Other Current Charges

Bank charges and any other miscellaneous expenses incurred during the fiscal year.

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 Community Affairs for
$175. This is the only expense under this category for the District.

Maintenance:

Field Management

The District is contracted with Governmental Management Services, Central Florida – LLC to provide onsite field management of contracts for District Services such as landscape maintenance. Services to include weekly site inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Electric

The District incurs cost for electric and street lighting. The District has the following accounts with Florida, Power & Light.

Description	Monthly	Annually	
Premium Lighting	$902	$10,824	
99 Grand Reserve Dr # Entrance	$175	$2,100	
100 Grand Reserve Pkwy # Entrance	$100	$1,200	
410 Grand Reserve Dr # B	$800	$9,600	
Decorative Lighting # Oak Branch	$1,200	$14,400	
22 Sand Wedge Ln # LS	$50	$600	
Contingency		$776	
TOTAL		$39,500	

Water & Sewer

The District incurs cost for water. The District has the following accounts with the City of Bunnell.

Description	Monthly	Annually	
100 Grand Reserve Pkwy	$600	$7,200	
Grand Reserve & US1 Fountain	$180	$2,160	
Contingency		$640	
TOTAL		$10,000	

Landscape Maintenance

The District will incur landscape maintenance expenses, which include mowing, edging, string-trimming, annual flower replacements, shrub and palm pruning, weeding, fertilization, pine straw, pest control and irrigation inspections during the fiscal year. Yellowstone Landscape is contracted to provide these services.

Description	Monthly	Annually	
Landscape Maintenance	$7,348
Contingency
TOTAL	$88,176
$11,824	
	$100,000	

Landscape Contingency

To record the cost of landscape enhancements as well as any miscellaneous landscape items currently not budgeted or covered in landscape contract.

Lake Maintenance

The monthly aquatic management service of 28 waterways for the District is provided by Applied Aquatic Management. Services include monthly inspections and treatment for the continued control of torpedo grass, cattails, spike rush and algae.

Water Feature Repair and Maintenance

The monthly inspections and repair and maintenance of Hwy 100 and US1 Fountains and is contracted with Yellowstone Landscape.

Description	Monthly	Annually	
Fountain Cleaning	$506	$6,072	
Repair and Maintenance	$500	$6,000	
Contingency		$428	
TOTAL		$12,500	

Irrigation Repairs

To record the cost of repairs to the irrigation system and preventative maintenance on the irrigation pump station.

Description	Monthly	Annually	
Pump Station Quarterly Service	$867	$3,467	
Irrigation Repairs/Maintenance	$500	$6,000	
Contingency		$533	
TOTAL		$10,000	

Contingency

To record the cost of any maintenance expenses not properly classified in any of the other accounts.

Amenity Center:

Facilities Management

Represents the cost to staff the Amenity Center, oversee maintenance contracts related to the Amenity Center, conduct various special events throughout the year, administer rental program, respond to resident request, etc.

Property Insurance

The District will incur fees to insure items owned by the District for its property needs. Coverage is provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage for government agencies.

Pool Attendants

Represents the estimated cost to have pool attendants during certain times throughout the operating season for the pool.

Pool Maintenance

Represents estimated costs of regular cleaning and treatments of the pools within the District.

Pool Chemicals

Represents the costs of pool chemicals purchased to maintain the pool not covered by the pool maintenance contract.

Janitorial Services

Represents estimated costs to provide janitorial services and supplies for the District’s amenity center.

Pest Services

The District will incur costs for pest control treatments to its amenity center.

Facilities Maintenance

Represents the estimated costs to provide routine repairs and maintenance on the District’s common areas and amenities.

Cable, Internet & Telephone Services

The District will obtain cable television, internet and phone services for its amenity center.

Electric – Amenities

This represents the estimated cost for electric utilities of the Amenity Center.

Water & Sewer – Amenities

This represents the estimated cost for electric utilities of the Amenity Center.

Gas Service

Represents estimated gas services provided at the amenity center.
Trash Removal

Represents the estimated cost of trash removal.

Security Monitoring

Represents estimated costs of maintaining security systems for the amenity center and any maintenance needed to those systems.

Security Patrol

Represents the estimated costs to provide security services throughout the fiscal year.

Access Cards

Represents the estimated cost for providing and maintaining an access card system.

Operating Supplies

Represents estimated costs of supplies purchased for operating and maintaining common areas.

Amenity Repairs & Maintenance

Represents estimated cost for repairs and maintenance of the amenity center.

Pool Repairs & Maintenance

Estimated miscellaneous pool maintenance cost not included under the agreements with Spies Pools and Roberts Pool Service.

Special Events

The Facilities Manager will coordinate and provide various activities throughout the year. The amount represents the cost of supplies, notice of events, etc.

Holiday Decor

The District will incur costs to related to the decoration of common areas during the Holidays.

Fitness Center Repairs & Maintenance

Represents costs related to repairing and maintaining the fitness equipment owned by the District.

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.

ASCAP/BMI Licenses

The District obtains licenses with ASCAP and BMI in order to provide entertainment in its amenity center.

Contingency

To record the cost of any amenity expenses not properly classified in any of the other accounts.

DEER RUN
COMMUNITY DEVELOPMENT DISTRICT
Debt Service Fund Budget - Series 2018

DESCRIPTION	ADOPTED
FY2019 BUDGET	ACTUAL
THRU 7/31/19	PROJECTED
NEXT 2 MONTH	TOTAL
AS OF 9/30/19	ADOPTED
FY2020 BUDGET	

Revenues						
Debt Assessments	$806,580	$806,021	$559	$806,580	$805,140	
Prepayments	$0	$431,452	$0	$431,452	$0	
Interest	$0	$11,231	$1,500	$12,731	$4,000	
Carry Forward Surplus	$112,956	$109,235	$0	$109,235	$308,576	
TOTAL REVENUES	$919,536	$1,357,939	$2,059	$1,359,998	$1,117,716	

Expenditures						
Interest - 11/1	$112,956	$112,956	$0	$112,956	$	286,245	
Principal - 5/1	$205,000	$205,000	$0	$205,000	$	205,000	
Special Call - 5/1	$0	$430,000	$0	$430,000	$	-	
Interest - 5/1	$303,465	$303,465	$0	$303,465	$	286,245	
TOTAL EXPENDITURES	$621,421	$1,051,421	$0	$1,051,421	$	777,490	
						
EXCESS REVENUES	$298,115	$306,518	$2,059	$308,576	$340,226	

Interest 11/1 	$280,710 
$280,710

Debt Service Assessments

Lot Size	
No. of Units	Per Unit Assessments	
Net	
Assessments	
40'	444	$940	$417,360	
50'-Sold	6	$705	$4,230	
50'	332	$940	$312,080	
75'-Sold	1	$1,057	$1,057	
75'	60	$1,057	$63,420	
Commercial	15	$399	$5,985	
Golf Course	1	$1,008	$1,008	
859	$805,140	

Deer Run Community Development District

SERIES 2018 AMORTIZATION SCHEDULE 

DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL	
					
11/1/19	$	10,540,000.00		$	286,245.00	$	286,245.00	
5/1/20	$	10,540,000.00	$	205,000.00	$	286,245.00		
11/1/20	$	10,335,000.00		$	280,710.00	$	771,955.00	
5/1/21	$	10,335,000.00	$	215,000.00	$	280,710.00		
11/1/21	$	10,120,000.00		$	274,905.00	$	770,615.00	
5/1/22	$	10,120,000.00	$	230,000.00	$	274,905.00		
11/1/22	$	9,890,000.00		$	268,695.00	$	773,600.00	
5/1/23	$	9,890,000.00	$	240,000.00	$	268,695.00		
11/1/23	$	9,650,000.00		$	262,215.00	$	770,910.00	
5/1/24	$	9,650,000.00	$	255,000.00	$	262,215.00		
11/1/24	$	9,395,000.00		$	255,330.00	$	772,545.00	
5/1/25	$	9,395,000.00	$	270,000.00	$	255,330.00		
11/1/25	$	9,125,000.00		$	248,040.00	$	773,370.00	
5/1/26	$	9,125,000.00	$	285,000.00	$	248,040.00		
11/1/26	$	8,840,000.00		$	240,345.00	$	773,385.00	
5/1/27	$	8,840,000.00	$	300,000.00	$	240,345.00		
11/1/27	$	8,540,000.00		$	232,245.00	$	772,590.00	
5/1/28	$	8,540,000.00	$	315,000.00	$	232,245.00		
11/1/28	$	8,225,000.00		$	223,740.00	$	770,985.00	
5/1/29	$	8,225,000.00	$	335,000.00	$	223,740.00		
11/1/29	$	7,890,000.00		$	214,695.00	$	773,435.00	
5/1/30	$	7,890,000.00	$	355,000.00	$	214,695.00		
11/1/30	$	7,535,000.00		$	205,110.00	$	774,805.00	
5/1/31	$	7,535,000.00	$	370,000.00	$	205,110.00		
11/1/31	$	7,165,000.00		$	195,120.00	$	770,230.00	
5/1/32	$	7,165,000.00	$	395,000.00	$	195,120.00		
11/1/32	$	6,770,000.00		$	184,455.00	$	774,575.00	
5/1/33	$	6,770,000.00	$	415,000.00	$	184,455.00		
11/1/33	$	6,355,000.00		$	173,250.00	$	772,705.00	
5/1/34	$	6,355,000.00	$	440,000.00	$	173,250.00		
11/1/34	$	5,915,000.00		$	161,370.00	$	774,620.00	
5/1/35	$	5,915,000.00	$	460,000.00	$	161,370.00		
11/1/35	$	5,455,000.00		$	148,950.00	$	770,320.00	
5/1/36	$	5,455,000.00	$	490,000.00	$	148,950.00		
11/1/36	$	4,965,000.00		$	135,720.00	$	774,670.00	
5/1/37	$	4,965,000.00	$	515,000.00	$	135,720.00		
11/1/37	$	4,450,000.00		$	121,815.00	$	772,535.00	
5/1/38	$	4,450,000.00	$	545,000.00	$	121,815.00		
11/1/38	$	3,905,000.00		$	107,100.00	$	773,915.00	
5/1/39	$	3,905,000.00	$	575,000.00	$	107,100.00		
11/1/39	$	3,330,000.00		$	91,575.00	$	773,675.00	
5/1/40	$	3,330,000.00	$	595,000.00	$	91,575.00		
11/1/40	$	2,735,000.00		$	75,212.50	$	761,787.50	
5/1/41	$	2,735,000.00	$	630,000.00	$	75,212.50		
11/1/41	$	2,105,000.00		$	57,887.50	$	763,100.00	
5/1/42	$	2,105,000.00	$	665,000.00	$	57,887.50		
11/1/42	$	1,440,000.00		$	39,600.00	$	762,487.50	
5/1/43	$	1,440,000.00	$	700,000.00	$	39,600.00		
11/1/43	$	740,000.00		$	20,350.00	$	759,950.00	
5/1/44	$	740,000.00	$	740,000.00	$	20,350.00	$	760,350.00	
		$	10,540,000.00	$	9,009,360.00	$	19,549,360.00