Gardens at Hammock Beach
Community Development District

Adopted Budget
FY2022

Table of Contents

1		General Fund

2-4		General Fund Narrative
Community Development District Adopted Budget
General Fund

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2021	6/30/21	3 Months	9/30/21	FY2022	

Revenues						
Developer Contributions	$	72,251	$	37,953	$	16,755	$	54,708	$	77,251	
Total Revenues	$	72,251	$	37,953	$	16,755	$	54,708	$	77,251	

Expenditures						
General & Administrative						
Supervisor Fees	$	7,200	$	2,400	$	1,200	$	3,600	$	7,200	
FICA Expense	$	551	$	184	$	92	$	275	$	551	
Engineering	$	5,000	$	-	$	2,500	$	2,500	$	5,000	
Attorney	$	5,000	$	1,158	$	2,200	$	3,358	$	5,000	
Dissemination	$	3,500	$	-	$	-	$	-	$	3,500	
Arbitrage	$	-	$	-	$	-	$	-	$	450	
Trustee Fees	$	-	$	-	$	-	$	-	$	4,050	
Annual Audit	$	2,500	$	-	$	1,000	$	1,000	$	3,000	
Management Fees	$	35,000	$	26,250	$	8,750	$	35,000	$	35,000	
Information Technology	$	600	$	456	$	144	$	600	$	600	
Website Maintenance	$	400	$	304	$	96	$	400	$	400	
Telephone	$	100	$	-	$	25	$	25	$	100	
Postage	$	750	$	343	$	120	$	463	$	750	
Insurance	$	5,500	$	5,000	$	-	$	5,000	$	5,500	
Printing & Binding	$	500	$	268	$	105	$	373	$	500	
Legal Advertising	$	5,000	$	1,210	$	403	$	1,613	$	5,000	
Other Current Charges	$	350	$	98	$	90	$	188	$	350	
Office Supplies	$	125	$	89	$	30	$	118	$	125	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total Expenses	$	72,251	$	37,934	$	16,755	$	54,689	$	77,251	
						
Excess Revenues/(Expenditures)	$	-	$	19	$	-	$	19	$	-	

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:

Supervisors Fees

Chapter 190, Florida Statutes, allows for each Board member to receive $200 per meeting, not to exceed $4,800 per year paid to each supervisor for the time devoted to District business and meetings. The amount is based on 3 supervisors attending 12 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 will be providing general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review invoices, etc. The District has contracted with Parker, Mynchenberg & Associates, Inc. for this service.

Attorney

The District's legal counsel will be providing general legal services to the District, e.g. attendance and preparation for monthly meetings, preparation and review of agreements, resolutions, etc. as directed by the Board of Supervisors and the District Manager. The District has contract with Chiumento, Dwyer, Hertel, Grant, P.L. for this service.

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.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on any future bond issuance.

Trustee Fees

The District will pay annual trustee fees for any future bond issuance.

Annual Audit

The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-Central Florida, LLC. The services include but are not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reporting, etc.

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

The District incurs charges for mailing of Board meeting agenda packages, overnight deliveries, correspondence, etc.

Insurance

The District’s general liability, public officials’ liability and property insurance coverages.

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 Board meetings, public hearings, etc in a newspaper of general circulation.

Other Current Charges

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

Office Supplies

Any supplies that may need to be purchased during the fiscal year, e.g., paper, minute books, file folders, labels, paper clips, etc.

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.