Narcoossee
Community Development District
Adopted Budget FY 2020

Table of Contents

1-2

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16

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18

 	General Fund

 	General Fund Narrative

 	O&M Assessment Allocation Chart

 	Capital Reserve Fund - Nona Crest

 	Capital Reserve Fund - La Vina

 	Capital Reserve Fund - Nona Preserve

 	Capital Reserve Fund - Parcels G&H

 	Debt Service Fund

 	Debt Service Assessment Allocation Chart

 	Amortization Schedule - Series 2013 A-1

 	Amortization Schedule - Series 2013 A-2

Adopted
Budget	Actual
thru	Projected
Next	Total
Projected	Adopted
Budget	
Description	FY2019	7/31/19	2 Months	9/30/19	FY2020	

Revenues		
Maintenance Assessments	$297,263	$304,866	$0	$304,866	$315,352	
Interest	$0	$482	$96	$578	$0	
Beginning Fund Balance*	$23,785	$23,785	$0	$23,785	$35,666	
Total Revenues	$321,048	$329,132	$96	$329,229	$351,019	

Expenditures						
Administrative
Supervisor Fees	
$6,000	
$3,800	
$1,000	
$4,800	
$6,000	
FICA Expense	$459	$291	$230	$520	$459	
Engineering Fees	$10,000	$5,345	$1,069	$6,414	$10,000	
Assessment Roll	$5,000	$5,000	$0	$5,000	$5,000	
Attorney	$17,000	$8,765	$1,753	$10,518	$17,000	
Annual Audit	$3,000	$3,000	$0	$3,000	$3,000	
Dissemination Agent	$1,250	$833	$167	$1,000	$1,250	
Arbitrage	$600	$0	$600	$600	$600	
Trustee Fees	$2,750	$2,963	$0	$2,963	$3,000	
Management Fees	$44,275	$36,896	$7,379	$44,275	$44,275	
Information Technology	$1,700	$2,617	$283	$2,900	$2,900	
Telephone	$100	$27	$5	$32	$100	
Postage	$450	$143	$29	$172	$450	
Insurance	$21,651	$19,683	$0	$19,683	$20,750	
Printing & Binding	$1,200	$189	$38	$227	$1,200	
Legal Advertising	$1,200	$0	$1,200	$1,200	$1,200	
Other Current Charges	$360	$406	$81	$488	$500	
Property Appraiser	$780	$771	$0	$771	$780	
Office Supplies	$150	$74	$15	$89	$150	
Dues, Licenses & Subscriptions	$175	$175	$0	$175	$175	
Contingency	$969	$0	$150	$150	$280	
Administrative Expenses	$119,069	$90,978	$13,999	$104,977	$119,069	

Adopted
Budget	Actual
thru	Projected
Next	Total
Projected	Adopted
Budget	
Description	FY2019	7/31/19	2 Months	9/30/19	FY2020	
Maintenance						
NonaCrest
Field Management	
$4,164	
$3,470	
$694	
$4,164	
$4,164	
Landscape Maintenance	$25,440	$17,033	$5,110	$22,143	$26,053	
Irrigation Repairs	$3,000	$2,891	$578	$3,469	$3,500	
Lake Maintenance	$4,300	$3,132	$626	$3,758	$4,350	
Wall Repairs/Cleaning	$0	$1,250	$250	$1,500	$2,500	
Feature Lighting	$750	$649	$130	$779	$1,000	
Miscellaneous Common Area	$5,262	$2,383	$477	$2,860	$1,349	
Total NonaCrest	$42,916	$30,809	$7,865	$38,674	$42,916	

La Vina
Field Management	

$10,156	

$8,463	

$1,693	

$10,156	

$10,350	
Landscape Maintenance	$51,100	$40,500	$8,100	$48,600	$38,762	
Irrigation Repairs	$4,000	$751	$150	$901	$4,000	
Lake Maintenance	$6,180	$5,000	$1,000	$6,000	$4,573	
Utilities	$8,340	$5,485	$1,097	$6,582	$8,340	
Wall Repairs/Cleaning	$6,000	$2,525	$505	$3,030	$5,500	
Solvino Streetlighting	$2,710	$2,236	$447	$2,683	$2,710	
Capri Streetlighting	$3,850	$3,178	$636	$3,813	$3,850	
Miscellaneous Common Area	$1,069	$1,475	$295	$1,770	$15,321	
Total La Vina	$93,405	$69,612	$13,922	$83,535	$93,405	

Nona Preserve Field Management	

$4,463	

$3,719	

$744	

$4,463	

$4,463	
Landscape Maintenance	$29,400	$24,500	$4,900	$29,400	$30,282	
Irrigation Repairs	$2,200	$2,441	$488	$2,929	$2,900	
Lake Maintenance	$4,300	$3,500	$700	$4,200	$4,200	
Miscellaneous Common Area	$1,510	$1,600	$0	$1,600	$28	
Total Nona Preserve	$41,873	$35,760	$6,832	$42,592	$41,873	

Parcels G & H Field Management	

$0	

$0	

$0	

$0	

$2,666	
Landscape Maintenance	$0	$0	$0	$0	$13,796	
Lake Maintenance	$0	$0	$0	$0	$1,628	
Total Parcels G & H	$0	$0	$0	$0	$18,090	
						
Maintenance Expenses	$178,194	$136,181	$28,620	$164,800	$196,283	

Transfer Out to Capital Reserves	
$23,785	
$23,785	
$0	
$23,785	
$35,666	
Total Expenses	$321,048	$250,944	$42,618	$293,563	$351,019	

Excess Revenues *	
$0	
$78,188	
($42,522)	
$35,666	
($0)	

Net Assessments	$315,352	
Add: Discounts & Collections	$20,129	
Gross Assessments	$335,481	

* - Reduced for First Quarter Operating - $74,300

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.

Beginning Fund Balance
Represents the total funds estimated to be available at the beginning of the fiscal year.

EXPENDITURES:

Administrative:

Supervisor Fees
The Florida Statutes allows each board member to receive $200 per meeting not to exceed $4,800 in one year. The amount is based upon 5 Supervisors attending 6 Board Meetings during the fiscal year.

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

Engineering Fees
The District’s engineer, Dewberry, will be providing general engineering services to the District, i.e., attendance and preparation for monthly Board meetings, review invoices, etc.

Assessment Roll
Expenses related to administering the annual assessments on the tax roll with the Orange County Tax Collector.

Attorney
The District’s legal counsel, Hopping, Green & Sams, will be providing general legal services to the District, i.e., attendance and preparation for monthly meetings, review operating and maintenance contracts, 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 Berger, Toombs, Elam, Gaines, & Frank to provide this service.
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. The District has contracted with Governmental Management Services – Central Florida LLC, the District’s bond underwriter, to provide this service.

Arbitrage
The District is required to annually have an arbitrage rebate calculation on the District’s Series 2013A-1 & 2013 A-2 Special Assessment Revenue Bonds. The District hired Grau & Associates to calculate the rebate liability and submit a report to the District.

Trustee Fees
The District issued Series 2013A-1 & 2013A-2 Special Assessment Refunding Bonds, which are held with a Trustee at US Bank. The amount of the trustee fees is based on the agreement between US Bank and the District.

Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services – Central Florida, LLC. These services include, but are not limited to, advertising, recording and transcribing of Board Meetings, administrative services, budget preparation, financial reporting, and assisting with annual audits.

Information Technology
The District incurs costs related to 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
The District’s general liability, public officials liability and property insurance coverages 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.

Legal Advertising
The District is required to advertise various notices for 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
Includes bank charges and any other miscellaneous expenses that are incurred during the year.

Property Appraiser
Represent the Fiscal Year 18 fees to be paid to the Orange County Property Appraiser for annual assessment roll administration.

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.

Contingency
Represents any other miscellaneous charges that the District may incur.

Maintenance:

NonaCrest

Field Management
The District currently has a contract with Governmental Management Services
– Central Florida, LLC. to provide field management services.

Landscape Maintenance
The District currently has a contract with Down to Earth, Inc. to provide Landscape Maintenance. These services include mowing, edging, blowing, applying pest and disease control chemicals to sod, mulching once per year, applying fertilizer, and planting annuals.

Vendor: Down To Earth, Inc.	Annual Costs
Landscape Maintenance: Contract Cost of $1,754 monthly	$21,053
Replacement Plants	$5,000
Total Costs	$26,053

Irrigation Repairs
Irrigation maintenance expenditures that may occur during the fiscal year.

Lake Maintenance
The District currently has a contract with Applied Aquatic Management, Inc., which provide Lake Maintenance to all the lakes inside Narcoossee CDD. These services include monthly inspections and treatment of aquatic weeds and algae, herbiciding, and algae control and removal.

Vendor: Applied Aquatic Management, Inc.	Annual Costs
Landscape Maintenance: Contract Cost of $358 monthly	$4,301
Contingency	$49
Total Costs	$4,350

Feature Lighting
Replacement and repair of up light fixtures.

Miscellaneous Common Area
Miscellaneous common area maintenance expenditures that may occur during the fiscal year.

LaVina

Field Management
The District currently has a contract with Governmental Management Services
– Central Florida, LLC. to provide field management services.

Landscape Maintenance
The District currently has a contract with Down to Earth, Inc. to provide Landscape Maintenance. These services include mowing, edging, blowing, applying pest and disease control chemicals to sod, mulching once per year, applying fertilizer, and planting annuals.
Vendor: Down To Earth, Inc.	Annual Costs
Landscape Maintenance: Contract Cost of $3,076 monthly	$36,918
Replacement Plants	$1,844
Total Costs	$38,762

Irrigation Repairs
Irrigation maintenance expenditures that may occur during the fiscal year.

Lake Maintenance
The District currently has a contract with Applied Aquatic Management, Inc., which provide Lake Maintenance to all the lakes inside Narcoossee CDD. These services include monthly inspections and treatment of aquatic weeds and algae, herbiciding, and algae control and removal. The amount also includes unscheduled maintenance.
Vendor: Applied Aquatic Management, Inc.	Annual Costs
Lake Maintenance: Contract Cost of $380 month	$4,553
Contingency	$20
Total Costs	$4,573

Utilities
The	District	has	electrical	and	water	accounts	with	Orlando	Utilities Commission for the areas maintained by the District.

Vendor: Orlando Utilities Commission	Annual Costs
Reclaimed Water - $680/month	$8,160
Electric - $15/month	$180
Total Costs	$8,340

Wall Repairs/Cleaning
Funding for cleaning or needed repairs of La Vina District wall.

Solvino Streetlighting
The District funds the streetlights within the Solvino community.

Vendor: Orlando Utilities Commission	Annual Costs
Electric - $225/month	$2,710

Capri Streetlighting
The District funds the streetlights within the Capri community.

Vendor: Orlando Utilities Commission	Annual Costs
Electric - $320/month	$3,850

Miscellaneous Common Area Maintenance
Miscellaneous common area maintenance expenditures that may occur during the fiscal year.

Nona Preserve

Field Management
The District currently has a contract with Governmental Management Services
– Central Florida, LLC. to provide field management services.

Landscape Maintenance
The District currently has a contract with Down to Earth, Inc. to provide Landscape Maintenance. These services include mowing, edging, blowing, applying pest and disease control chemicals to sod, mulching once per year, applying fertilizer, and planting annuals.

Vendor: Down To Earth, Inc.	Annual Costs
o Landscape Maintenance: Contract Cost of $2,450 monthly $30,282

Irrigation Repairs
Irrigation maintenance expenditures that may occur during the fiscal year.

Lake Maintenance
These services include monthly inspections and treatment of aquatic weeds and algae, herbiciding, and algae control and removal.

Vendor: Applied Aquatic Management, Inc.	Annual Costs
o	Lake Maintenance: Contract Cost of $350 monthly	$4,200

Miscellaneous Common Area Maintenance
Miscellaneous common area maintenance expenditures that may occur during the fiscal year.

Parcel G & H

Field Management
The District currently has a contract with Governmental Management Services
– Central Florida, LLC. to provide field management services.

Landscape Maintenance
These services include mowing, edging, blowing, applying pest and disease control chemicals to sod, mulching once per year, applying fertilizer, and planting annuals.)

Vendor: Down To Earth, Inc.	Annual Costs
o	Landscape Maintenance: Contract Cost of $1150 monthly	$13,796

Lake Maintenance
These services include monthly inspections and treatment of aquatic weeds and algae, herbiciding, and algae control and removal.

Vendor: Applied Aquatic Management, Inc.	Annual Costs
o	Landscape Maintenance: Contract Cost of $136 monthly	$1,628

Transfer Out – Capital Reserve Fund
Represents projected excess funds above operating capital requirements in the General Fund.

Narcoossee
Community Development District Maintenance Assessment Calculation Fiscal Year 2020

Subdivision	

Track		

Units	
Annual Gross Maintenance Per Unit FY19	
Proposed Gross Maintenance Per Unit FY20	
Street Lighting Supplement Assessment	Total Proposed Gross Maintenance Per Unit FY20	

Increase (Decrease)	

O&M	

NonaCrest	

C	

SF50	

159	

$276.94	

$276.94	

N/A	

$276.94	

$0.00	

$44,034	
	D	SF70	 	110		$276.94	$276.94	N/A	$276.94	$0.00	$30,464	

LaVina
Mirabella	

A	

SF50	269

107	

$473.15	

$473.15	

N/A	

$473.15	

($0.00)	

$50,627	
Ziani	B	SF75	66	$473.15	$473.15	N/A	$473.15	($0.00)	$31,228	
Capri	E	SF50	48	$558.17	$473.15	$85.02	$558.17	($0.00)	$26,805	
Solvino	F	SF50	 	50		$530.60	$473.15	$57.45	$530.60	($0.00)	$26,542	
			271							
Lake Nona Preserve	K	Multi	228	$254.88	$254.88	N/A	$254.88	$0.00	$58,113	
	G	Comm/Office	130704	$0.11	$0.16	N/A	$0.16	$0.05	$20,977	
	G	Multi Family	370	$68.05	$95.10	N/A	$95.10	$27.05	$35,188	
	H	Comm/Office	69000	$0.12	$0.17	N/A	$0.17	$0.05	$11,504	
Total Gross Assessments									$335,481	

10

Capital Reserve Fund - Nona Crest Fiscal Year 2020

	Adopted
Budget	Actual
thru	Projected
Next	Total
Projected	Adopted
Budget	
Description	FY2019	7/31/19	2 Months	9/30/19	FY2020	

Revenues						
Transfer In	$7,105	$7,105	$0	$7,105	$7,518	
Interest	$0	$8	$2	$10	$0	
Carry Forward Surplus	$89,909	$95,350	$0	$95,350	$96,428	
Total Revenues	$97,014	$102,463	$2	$102,464	$103,947	

Expenditures						
Capital Projects	$0	$6,036	$0	$6,036	$0	
Total Expenditures	$0	$6,036	$0	$6,036	$0	

Excess Revenues	
$97,014	
$96,427	
$2	
$96,428	
$103,947	

Capital Reserve Fund - La Vina Fiscal Year 2020

	Adopted
Budget	Actual
thru	Projected
Next	Total
Projected	Adopted
Budget	
Description	FY2019	7/31/19	2 Months	9/30/19	FY2020	

Revenues						
Transfer In	$13,880	$13,880	$0	$13,880	$13,973	
Interest	$0	$10	$2	$12	$0	
Transfer from G/H Capital	$0	$0	$16,998	$16,998	$0	
Carry Forward Surplus	$91,373	$111,693	$0	$111,693	$109,946	
Total Revenues	$105,253	$125,583	$17,000	$142,583	$123,919	

Expenditures						
Dowden Median Improvements	$50,000	$32,637	$0	$32,637	$50,000	
Total Expenditures	$50,000	$32,637	$0	$32,637	$50,000	

Excess Revenues	
$55,253	
$92,946	
$17,000	
$109,946	
$73,919	

Capital Reserve Fund - Nona Preserve Fiscal Year 2020

	Adopted
Budget	Actual
thru	Projected
Next	Total
Projected	Adopted
Budget	
Description	FY2019	7/31/19	2 Months	9/30/19	FY2020	

Revenues						
Transfer In	$323	$323	$0	$323	$323	
Interest	$0	$3	$1	$4	$0	
Carry Forward Surplus	$32,089	$37,941	$0	$37,941	$38,267	
Total Revenues	$32,412	$38,267	$1	$38,267	$38,590	

Expenditures						
Capital Projects	$0	$0	$0	$0	$2,500	
Total Expenditures	$0	$0	$0	$0	$2,500	

Excess Revenues	
$32,412	
$38,267	
$1	
$38,267	
$36,090	

Capital Reserve Fund - Parcels G&H Fiscal Year 2020

	Adopted
Budget	Actual
thru	Projected
Next	Total
Projected	Adopted
Budget	
Description	FY2019	7/31/19	2 Months	9/30/19	FY2020	

Revenues						
Transfer In	$2,477	$2,477	$0	$2,477	$5,447	
Interest	$0	$7	$0	$7	$0	
Carry Forward Balance	$80,206	$80,206	$0	$80,206	$60,761	
Total Revenues	$82,683	$82,689	$0	$82,689	$66,209	

Expenditures						
Transfer to LaVina Capital	$0	$11,617	$10,311	$21,928	$0	
Total Expenditures	$0	$11,617	$10,311	$21,928	$0	

Excess Revenues	
$82,683	
$71,072	
($10,311)	
$60,761	
$66,209	

Debt Service Fund Fiscal Year 2020

	Adopted Budget	Actual thru	Projected Next	Total Projected	Adopted Budget	
Description	FY2019	7/31/19	2 Months	9/30/19	FY2020	

Revenues						
Assessments - Tax Roll	$317,131	$325,269	$0	$325,269	$317,131	
Interest Income	$1,000	$3,968	$794	$4,761	$1,000	
Carry Forward Surplus	$163,677	$164,918	$0	$164,918	$184,168	
Total Revenues	$481,808	$494,155	$794	$494,949	$502,299	
Expenditures						
Series 2013A-1						
Interest - 11/1	$44,703	$44,703	$0	$44,703	$43,053	
Principal - 5/1	$120,000	$120,000	$0	$120,000	$125,000	
Interest - 5/1	$44,703	$44,703	$0	$44,703	$43,053	
Series 2013A-2						
Interest - 11/1	$28,188	$28,188	$0	$28,188	$27,034	
Principal - 5/1	$45,000	$45,000	$0	$45,000	$50,000	
Interest - 5/1	$28,188	$28,188	$0	$28,188	$27,034	
Total Expenditures	$310,780	$310,781	$0	$310,781	$315,174	
						
Excess Revenues	$171,028	$183,374	$794	$184,168	$187,125	
			
Series 2013A-1	
Nov 1, 2020	
$41,178	
			Series 2013A-2	Nov 1, 2020	$25,753	
Net Assessments	$317,131	
Add: Discounts & Collections	$20,242	
Gross Assessments	$337,373	

(1)

(1) Excess Revenues will be utilized to pay November 1 semi-annual interest payment.

Narcoossee
	Community Development District
Debt Assessment Calculation		
	Fiscal Year 2020		
		Adopted		
		FY2020
Annual Gross		
Subdivision	Track	Units	Debt Per Unit	Total Debt	
NonaCrest	C	SF50	158	$301.13	$47,579	
	D	SF70	110	$481.81	$52,999	
LaVina				
	A	SF50	107	$301.13	$32,221	
	B	SF75	65	$566.13	$36,798	
	E	SF50	48	$301.13	$14,454	
	F	SF50	50	$301.13	$15,057	
Lake Nona Preserve	K	Multi	228	$240.91	$54,927	
	G	Comm/Office	130704	$0.20	$26,141	
	G	Multi Family	370	$117.29	$43,397	
	H	Comm/Office	69000	$0.20	$13,800	
Total Gross Assessment	$337,373

16

Narcoossee
Community Development District
Debt Service Fund - Series 2013A-1 Amortization Schedule

Date	Series 2013A-1	Fiscal
Total	
	Principal	Interest		
11/1/19		$43,052.50	$43,052.50	
5/1/20	$125,000.00	$43,052.50		
11/1/20		$41,177.50	$209,230.00	
5/1/21	$125,000.00	$41,177.50		
11/1/21		$39,146.25	$205,323.75	
5/1/22	$130,000.00	$39,146.25		
11/1/22		$36,871.25	$206,017.50	
5/1/23	$135,000.00	$36,871.25		
11/1/23		$34,373.75	$206,245.00	
5/1/24	$140,000.00	$34,373.75		
11/1/24		$31,748.75	$206,122.50	
5/1/25	$145,000.00	$31,748.75		
11/1/25		$28,921.25	$205,670.00	
5/1/26	$150,000.00	$28,921.25		
11/1/26		$25,921.25	$204,842.50	
5/1/27	$160,000.00	$25,921.25		
11/1/27		$22,721.25	$208,642.50	
5/1/28	$165,000.00	$22,721.25		
11/1/28		$19,297.50	$207,018.75	
5/1/29	$170,000.00	$19,297.50		
11/1/29		$15,770.00	$205,067.50	
5/1/30	$180,000.00	$15,770.00		
11/1/30		$12,035.00	$207,805.00	
5/1/31	$185,000.00	$12,035.00		
11/1/31		$8,196.25	$205,231.25	
5/1/32	$195,000.00	$8,196.25		
11/1/32		$4,150.00	$207,346.25	
5/1/33	$200,000.00	$4,150.00	$204,150.00	
				
	$2,205,000.00	$726,765.00	$2,931,765.00	

Narcoossee
Community Development District
Debt Service Fund - Series 2013A-2 Amortization Schedule

Date	Series 2013A-2	Fiscal
Total	
	Principal	Interest		
11/1/19		$27,034.38	$27,034.38	
5/1/20	$50,000.00	$27,034.38		
11/1/20		$25,753.13	$102,787.51	
5/1/21	$50,000.00	$25,753.13		
11/1/21		$24,471.88	$100,225.01	
5/1/22	$55,000.00	$24,471.88		
11/1/22		$23,062.50	$102,534.38	
5/1/23	$55,000.00	$23,062.50		
11/1/23		$21,515.63	$99,578.13	
5/1/24	$60,000.00	$21,515.63		
11/1/24		$19,828.13	$101,343.76	
5/1/25	$60,000.00	$19,828.13		
11/1/25		$18,140.63	$97,968.76	
5/1/26	$65,000.00	$18,140.63		
11/1/26		$16,312.50	$99,453.13	
5/1/27	$70,000.00	$16,312.50		
11/1/27		$14,343.75	$100,656.25	
5/1/28	$75,000.00	$14,343.75		
11/1/28		$12,234.38	$101,578.13	
5/1/29	$80,000.00	$12,234.38		
11/1/29		$9,984.38	$102,218.76	
5/1/30	$85,000.00	$9,984.38		
11/1/30		$7,593.75	$102,578.13	
5/1/31	$85,000.00	$7,593.75		
11/1/31		$5,203.13	$97,796.88	
5/1/32	$90,000.00	$5,203.13		
11/1/32		$2,671.88	$97,875.01	
5/1/33	$95,000.00	$2,671.88	$97,671.88	
				
	$975,000.00	$456,300.10	$1,431,300.10