Fiscal Year 2019 Adopted Budget

Wilford Preserve Community Development District

August 16, 2018

Wilford Preserve
Community Development District

TABLE OF CONTENTS

General Fund
Budget	Page 1
Narrative	Page 2-3

Wilford Preserve
Community Development District

(1) Expenditures related to the issuance of Bonds.

(1)

	Adopted		Adopted	
	 	FY  2018 Budget			 	FY  2019 Budget		
Revenues				
Developer Contributions	$106,975		$108,675	
Total Revenues	 	$106,975 		 	$108,675 	

Expenditures				
Administrative				
Engineering	$15,000		$15,000	
Arbitrage	$600		$600	
Dissemination Agent	$3,500		$3,500	
Attorney	$20,000		$20,000	
Annual Audit	$5,000		$5,000	
Trustee Fees	$4,000		$4,000	
Management Fees	$45,000		$45,000	
Information Technology	$1,200		$1,200	
Telephone	$100		$300	
Postage	$1,500		$1,500	
Printing & Binding	$1,000		$1,000	
Insurance	$5,800		$5,800	
Legal Advertising	$2,500		$4,000	
Other Current Charges	$600		$600	
Office Supplies	$1,000		$1,000	
Dues, Licenses & Subscriptions	$175		$175	
Total Expenditures	 	$106,975 		 	$108,675 	
Excess Revenues (Expenditures)	 	$0 		 	$0 	

(1)

(1)

Wilford Preserve 
COMMUNITY DEVELOPMENT DISTRICT GENERAL FUND BUDGET
REVENUES:

Developer Contributions
It is presently anticipated that the District will enter into a Funding Agreement with the Developer to fund all General Fund Expenditures for the Fiscal Year.

EXPENDITURES:

Administrative:

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

Arbitrage
The District is required to have an annual arbitrage rebate calculation on the District’s Bonds. The District will contract with an independent auditing firm to perform the calculations.

Dissemination
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.

Attorney
The District's legal counsel will be providing general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating & maintenance contracts, etc.

Annual Audit
The District is required to annually conduct an audit of its financial records by an Independent Certified Public Accounting Firm. The fee is based on similar Community Development Districts and includes the GASB 34 pronouncement.

Trustee Fees
The District will issue bonds to be held with a Trustee at a qualified Bank. The amount of the trustee fees is based on the agreement between the Bank and the District.

Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services, LLC. These services are further outlined in Exhibit "A" of the Management Agreement.

Postage
Mailing of agenda packages, overnight deliveries, correspondence, etc.
Printing & Binding
Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc.

Wilford Preserve 
COMMUNITY DEVELOPMENT DISTRICT GENERAL FUND BUDGET

Insurance
The District will obtain a General Liability & Public Officials Liability Insurance policy with a firm that specializes in providing insurance coverage to governmental agencies. The amount  is based upon similar Community Development Districts.

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 that incurred during the year.
Office Supplies
Miscellaneous 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.