Saddle Creek Preserve of Polk County
Community Development District

Adopted Budget
FY2022

6i S

Table of Contents

1-2

3-8

9

General Fund

General Fund Narrative

Debt Service Fund

10-11	Amortization Schedule

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

Revenues						
Assessments - On Roll	
$0	
$0	
$0	
$0	$	173,600	
Developer Contributions	$197,506	$138,218	$0	$138,218	$	175,745	
Miscellaneous Income	$0	$1,945	$0	$1,945	$	-	
Total Revenues	$	197,506 $	140,163 $	-	$	140,163	$	349,345	

Expenditures				
Administrative				
Supervisor Fees	$7,200	$600	$2,000	$2,600	$7,200	
Engineer Fees	$15,000	$0	$3,750	$3,750	$15,000	
Attorney Fees	$25,000	$5,128	$6,250	$11,378	$25,000	
Annual Audit	$0	$2,000	$0	$2,000	$2,900	
Assessment Administration	$0	$0	$5,000	$5,000	$5,000	
Dissemination	$0	$3,333	$1,250	$4,583	$5,000	
Arbitrage	$0	$0	$1,000	$1,000	$1,000	
Management Fees	$35,000	$26,250	$8,750	$35,000	$36,050	
Trustee Fees	$0	$0	$5,000	$5,000	$5,000	
Information Technology	$2,650	$1,087	$1,563	$2,650	$1,800	
Website Maintenance	$0	$0	$0	$0	$1,200	
Telephone	$250	$0	$63	$63	$250	
Postage & Delivery	$500	$29	$125	$154	$500	
Insurance	$5,000	$5,000	$0	$5,000	$5,500	
Printing & Binding	$500	$10	$125	$135	$500	
Legal Advertising	$10,000	$968	$2,813	$3,781	$10,000	
Other Current Charges	$1,500	$935	$450	$1,385	$2,000	
Office Supplies	$521	$11	$130	$141	$400	
Travel Per Diem	$550	$0	$138	$138	$550	
Dues, Licenses & Subscriptions	$175	$175	$0	$175	$175	
Total Administrative	$	103,846  $	45,527  $	38,406	$	83,932	$	125,025	

Operations & Maintenance				
Field Services				
Property Insurance	$5,000	$4,443	$0	$4,443	$5,000	
Field Management	$15,000	$0	$0	$0	$15,000	
Landscape Maintenance	$10,000	$0	$0	$0	$40,000	
Landscape Replacement	$2,500	$0	$0	$0	$5,000	
Mitigation Monitoring	$25,000	$0	$0	$0	$25,000	
Lake Maintenance	$10,000	$0	$0	$0	$10,000	
Streetlights	$12,600	$0	$0	$0	$12,600	
Electric	$2,000	$0	$0	$0	$5,000	
Water & Sewer	$1,000	$0	$0	$0	$5,000	
Sidewalk & Asphalt Maintenance	$500	$0	$0	$0	$500	
Irrigation Repairs	$2,500	$0	$0	$0	$2,500	
General Repairs & Maintenance	$5,000	$0	$0	$0	$5,000	
Contingency	$1,000	$0	$0	$0	$5,000	
Subtotal Field Expenses	$	92,100 $	4,443  $	-	$	4,443	$	135,600	

	Adopted
Budget	Actuals
Thru	Projected
Next	Projected
Thru	Adopted
Budget	
Description	FY2021	6/30/21	3 Months	9/30/21	FY2022	
Amenity Expenses						
Amenity - Electric	$0	$0	$0	$0	$14,400	
Amenity - Water	$0	$0	$0	$0	$5,000	
Playground Lease	$0	$0	$0	$0	$14,000	
Internet	$0	$0	$0	$0	$3,000	
Pest Control	$0	$0	$0	$0	$720	
Janitorial Service	$0	$0	$0	$0	$5,400	
Security Services	$0	$0	$0	$0	$15,000	
Pool Maintenance	$0	$0	$0	$0	$16,200	
Amenity Repairs & Maintenance	$0	$0	$0	$0	$5,000	
Contingency	$0	$0	$0	$0	$5,000	
Subtotal Amenity Expenses	$	-	$	-	$	-	$	-	$	83,720	
						
Total Operations & Maintenance	$	92,100	$	4,443	$	-	$	4,443	$	219,320	

Other Expenses
Capital Reserves	

$0	

$0	

$0	

$0	

$5,000	
Total Other Expenses	$	-	$	-	$	-	$	-	$	5,000	
						
Total Expenditures	$	195,946	$	49,970	$	38,406	$	88,375	$	349,345	
						
Excess Revenues/(Expenditures)	$	1,560	$	90,193	$	(38,406)	$	51,787	$	-	

Net Assessments	$	173,600	
Add: Discounts & Collections 7%	$13,067	
Gross Assessments	$186,667	

Product	ERU's	Assessable Units	ERU/Unit	Net Assessment	Net Per Unit	Gross Per Unit	
Platted	224.00	224.00	1.00	$173,600.00	$775.00	$833.33	

Saddle Creek Preserve at Polk County
Community Development District
GENERAL FUND BUDGET

REVENUES:

Assessments

The District will levy a non-ad valorem assessment on all the assessable property within the District in order to pay for operating expenditures during the fiscal year.

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:

Supervisor 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.

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 and various projects as directed by the Board of Supervisors and the District Manager.

Attorney

The District's legal counsel will be providing general legal services to the District, e.g. attendance and preparation for meetings, preparation and review of agreements, resolutions, etc. as directed by the Board of Supervisors and the District Manager.

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis.

Assessment Administration

The District will contract to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

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. This cost is based upon the Series 2020 bonds as well as one other anticipated bond issuance.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on its Series 2020 bonds as well as one other anticipated bond issuance.

Management Fees

The District will incur costs for Management, Accounting and Administrative services during the Fiscal Year.

Trustee Fees

The District will incur trustee related costs with the issuance of its’ issued bonds.

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 & Delivery

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

Insurance

The District’s general liability, public official’s liability insurance 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 monthly Board meetings, public hearings, etc. in a newspaper of general circulation.

Other Current Charges

Bank charges and any other miscellaneous expenses incurred during the 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.

Travel Per Diem

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

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.

Operations & Maintenance:

Field Services

Property Insurance

The District’s property insurance coverages.

Field Management

Represents the estimated costs of contracting services that provide onsite field management of contracts for the District such as landscape and lake maintenance. Services can include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Landscape Maintenance

Represents the estimated maintenance of the landscaping within the common areas of the District after the installation of landscape material has been completed.

Landscape Replacement

Represents the estimated cost of replacing landscaping within the common areas of the District.

Mitigation Monitoring

To provide scheduled monitoring of mitigation areas located throughout the District

Lake Maintenance

Represents the lake maintenance that will be maintained throughout the District

Streetlights

Represents the cost to maintain street lights within the District Boundaries that are expected to be in place throughout the fiscal year.

Electric

Represents current and estimated electric charges of common areas throughout the District.

Water & Sewer

Represents current and estimated costs for water and refuse services provided for common areas throughout the District.

Sidewalk & Asphalt Maintenance

Represents the estimated costs of maintaining the sidewalks and asphalt throughout the District’s Boundary.

Irrigation Repairs

Represents the cost of maintaining and repairing the irrigation system. This includes the sprinklers, and irrigation wells.

General Repairs & Maintenance

Represents estimated costs for general repairs and maintenance of the District’s common areas.

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any field category.

Amenity Expenses

Amenity - Electric

Represents estimated electric charges for the District’s amenity facilities.

Amenity – Water

Represents estimated water charges for the District’s amenity facilities.

Playground Lease

The District has entered into a leasing agreement for playgrounds and pool furniture installed in the community.

Internet

Internet service will be added for use at the Amenity Center.

Pest Control

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

Janitorial Services

Represents the costs to provide janitorial services 3 times a week and supplies for the District’s amenity facilities.

Security Services

Represents the estimated cost of contracting a monthly security service for the District’s amenity facilities.

Pool Maintenance

Represents the costs of regular cleaning and treatments of the District’s pool.

Amenity Repairs & Maintenance

Represents estimated costs for repairs and maintenance of the District’s amenity facilities.

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any amenity category.

Other Expenses:

Capital Reserves

Funds collected and reserved for the replacement of and/or purchase of new capital improvements throughout the District.

Saddle Creek Preserve of Polk County
Community Development District

Adopted Budget Debt Service Fund Series 2020

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

Revenues							
Special Assessments	$	352,796	$	352,796	$	-	$	352,796	$	313,500	
Interest Income	$	22	$	13	$	4	$	18	$	-	
Carry Forward Surplus	$	-	$	-	$	-	$	-	$	106,148	
Total Revenues	$	352,818	$	352,810	$	4	$	352,814	$	419,648	

Expenses						
Interest- 12/15	$	39,296	$	39,296	$	-	$	39,296	$	101,200	
Principal - 6/15	$	-	$	105,000	$	-	$	105,000	$	110,000	
Interest - 6/15	$	-	$	102,513	$	-	$	102,513	$	101,200	
Total Expenditures	$	39,296	$	246,809	$	-	$	246,809	$	312,400	

Other Financing Sources/(Uses)						
Bond Proceeds	$	156,750	$	156,750	$	-	$	156,750	$	-	
Transfer In (Out)	$	-	$	143	$	-	$	143	$	-	
Total Other Financing Sources/(Uses)	$	156,750	$	156,893	$	-	$	156,893	$	-	
						
Excess Revenues/(Expenditures)	$	470,272	$	262,893	$	4	$	262,898	$	107,248	

*Carry forward less amount in Reserve funds.						
Series 2020
Interest - 12/15/22	$99,825
Total	$99,825

DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL

12/15/20	$	5,500,000.00	$	-	$	39,296.46	$	39,296.46	
06/15/21	$	5,500,000.00	$	105,000.00   $	102,512.50	$	-	
12/15/21	$	5,395,000.00	$	-	$	101,200.00	$	308,712.50	
06/15/22	$	5,395,000.00	$	110,000.00   $	101,200.00	$	-	
12/15/22	$	5,285,000.00	$	-	$	99,825.00	$	311,025.00	
06/15/23	$	5,285,000.00	$	115,000.00   $	99,825.00	$	-	
12/15/23	$	5,170,000.00	$	-	$	98,387.50	$	313,212.50	
06/15/24	$	5,170,000.00	$	115,000.00   $	98,387.50	$	-	
12/15/24	$	5,055,000.00	$	-	$	96,950.00	$	310,337.50	
06/15/25	$	5,055,000.00	$	120,000.00   $	96,950.00	$	-	
12/15/25	$	4,935,000.00	$	-	$	95,450.00	$	312,400.00	
06/15/26	$	4,935,000.00	$	120,000.00   $	95,450.00	$	-	
12/15/26	$	4,815,000.00	$	-	$	93,650.00	$	309,100.00	
06/15/27	$	4,815,000.00	$	125,000.00   $	93,650.00	$	-	
12/15/27	$	4,690,000.00	$	-	$	91,775.00	$	310,425.00	
06/15/28	$	4,690,000.00	$	130,000.00   $	91,775.00	$	-	
12/15/28	$	4,560,000.00	$	-	$	89,825.00	$	311,600.00	
06/15/29	$	4,560,000.00	$	135,000.00   $	89,825.00	$	-	
12/15/29	$	4,425,000.00	$	-	$	87,800.00	$	312,625.00	
06/15/30	$	4,425,000.00	$	140,000.00   $	87,800.00	$	-	
12/15/30	$	4,285,000.00	$	-	$	85,700.00	$	313,500.00	
06/15/31	$	4,285,000.00	$	145,000.00   $	85,700.00	$	-	
12/15/31	$	4,140,000.00	$	-	$	82,800.00	$	313,500.00	
06/15/32	$	4,140,000.00	$	150,000.00   $	82,800.00	$	-	
12/15/32	$	3,990,000.00	$	-	$	79,800.00	$	312,600.00	
06/15/33	$	3,990,000.00	$	155,000.00   $	79,800.00	$	-	
12/15/33	$	3,835,000.00	$	-	$	76,700.00	$	311,500.00	
06/15/34	$	3,835,000.00	$	160,000.00   $	76,700.00	$	-	
12/15/34	$	3,675,000.00	$	-	$	73,500.00	$	310,200.00	
06/15/35	$	3,675,000.00	$	165,000.00   $	73,500.00	$	-	
12/15/35	$	3,510,000.00	$	-	$	70,200.00	$	308,700.00	
06/15/36	$	3,510,000.00	$	175,000.00   $	70,200.00	$	-	
12/15/36	$	3,335,000.00	$	-	$	66,700.00	$	311,900.00	
06/15/37	$	3,335,000.00	$	180,000.00   $	66,700.00	$	-	
12/15/37	$	3,155,000.00	$	-	$	63,100.00	$	309,800.00	

DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL

06/15/38	$	3,155,000.00	$	190,000.00   $	63,100.00	$	-	
12/15/38	$	2,965,000.00	$	-	$	59,300.00	$	312,400.00	
06/15/39	$	2,965,000.00	$	195,000.00   $	59,300.00	$	-	
12/15/39	$	2,770,000.00	$	-	$	55,400.00	$	309,700.00	
06/15/40	$	2,770,000.00	$	205,000.00   $	55,400.00	$	-	
12/15/40	$	2,565,000.00	$	-	$	51,300.00	$	311,700.00	
06/15/41	$	2,565,000.00	$	215,000.00   $	51,300.00	$	-	
12/15/41	$	2,350,000.00	$	-	$	47,000.00	$	313,300.00	
06/15/42	$	2,350,000.00	$	220,000.00   $	47,000.00	$	-	
12/15/42	$	2,130,000.00	$	-	$	42,600.00	$	309,600.00	
06/15/43	$	2,130,000.00	$	230,000.00   $	42,600.00	$	-	
12/15/43	$	1,900,000.00	$	-	$	38,000.00	$	310,600.00	
06/15/44	$	1,900,000.00	$	240,000.00   $	38,000.00	$	-	
12/15/44	$	1,660,000.00	$	-	$	33,200.00	$	311,200.00	
06/15/45	$	1,660,000.00	$	250,000.00   $	33,200.00	$	-	
12/15/45	$	1,410,000.00	$	-	$	28,200.00	$	311,400.00	
06/15/46	$	1,410,000.00	$	260,000.00   $	28,200.00	$	-	
12/15/46	$	1,150,000.00	$	-	$	23,000.00	$	311,200.00	
06/15/47	$	1,150,000.00	$	270,000.00   $	23,000.00	$	-	
12/15/47	$	880,000.00	$	-	$	17,600.00	$	310,600.00	
06/15/48	$	880,000.00	$	280,000.00   $	17,600.00	$	-	
12/15/48	$	600,000.00	$	-	$	12,000.00	$	309,600.00	
06/12/49	$	600,000.00	$	295,000.00   $	12,000.00	$	-	
12/15/49	$	305,000.00	$	-	$	6,100.00	$	313,100.00	
06/15/50	$	305,000.00	$	305,000.00   $	6,100.00	$	311,100.00	

$	5,500,000.00 $	3,875,933.96 $	9,375,933.96