Fiscal Year 2022	Approved Budget

Wilford Preserve Community Development District

May 20, 2021

Wilford Preserve
Community Development District

TABLE OF CONTENTS

General Fund
Budget	Page 1
Narrative	Page 2-6
O&M Allocation	Page 7
Debt Service Fund
Budget Series 2018B	Page 8-9
Budget Series 2019A	Page 10-11

Wilford Preserve	General Fund
Community Development District

	Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Approved
Budget	
Description	FY 2021	4/30/20	5 Months	9/30/21	FY 2022	

Revenues						
Assessments/Developer   Contribtuions	$315,125	$166,524	$2,587	$169,111	$327,829	
Interest	$0	$0	$0	$0	$0	
Miscellaneous Revenue	$0	$287	$0	$287	$0	
Total Revenues	$315,125	$166,811	$2,587	$169,111	$327,829	
	
Expenditures						
	Administrative						
	Engineering	$10,000	$0	$0	$0	$10,000	
	Arbitrage	$1,200	$600	$600	$1,200	$1,200	
	Dissemination	$7,000	$4,083	$2,917	$7,000	$7,000	
	Attorney	$20,000	$2,690	$17,311	$20,000	$20,000	
	Annual Audit	$5,800	$5,800	$0	$5,800	$4,700	
	Assessment Administration	$5,000	$5,000	$0	$5,000	$5,000	
	Trustee Fees	$6,000	$6,017	$0	$6,017	$6,020	
	Management Fees	$45,000	$26,250	$18,750	$45,000	$46,800	
	Information Technology	$800	$467	$333	$800	$1,000	
	Website Compliance	$400	$233	$167	$400	$600	
	Telephone	$300	$42	$100	$142	$300	
	Postage	$1,000	$66	$94	$160	$1,000	
	Printing & Binding	$1,500	$354	$646	$1,000	$1,500	
	Insurance	$6,100	$5,920	$0	$5,920	$6,512	
	Legal Advertising	$5,000	$1,981	$3,019	$5,000	$5,000	
	Other Current Charges	$600	$276	$224	$500	$600	
	Office Supplies	$500	$25	$100	$125	$500	
	Dues, Licenses & Subscriptions	$175	$175	$0	$175	$175	
	Administrative Expenses	$116,375	$59,979	$44,260	$104,239	$117,907	
	
Insurance	
$8,000	
$0	
$0	
$0	
$8,000	
	Pool Monitors	$5,000	$0	$0	$0	$5,000	
	Field Operations Manager	$30,000	$0	$0	$0	$30,000	
	Office Supplies / Mailings / Printing	$600	$0	$0	$0	$600	
	Pool Maintenance	$20,000	$0	$0	$0	$20,000	
	Permit Fees	$450	$0	$0	$0	$450	
	Landscape Maintenance	$40,000	$23,303	$16,645	$39,948	$49,948	
	Irrigation Maintenance	$1,000	$0	$0	$0	$1,000	
	Lake Maintenance	$7,500	$5,089	$3,635	$8,724	$8,724	
	General Facility Maintenance	$15,000	$0	$0	$0	$15,000	
	Streetlighting	$15,000	$0	$0	$0	$15,000	
	Telephone/Cable/Internet	$2,500	$0	$0	$0	$2,500	
	Electric	$15,000	$0	$0	$0	$15,000	
	Water/Sewer/Irrigation	$20,000	$0	$0	$0	$20,000	
	Refuse Service	$2,000	$0	$0	$0	$2,000	
	Janitorial Services	$9,500	$0	$0	$0	$9,500	
	Special Events	$6,000	$0	$0	$0	$6,000	
	Recreational Passes	$1,200	$0	$0	$0	$1,200	
	Maintenance Expenses	$198,750	$28,392	$20,280	$48,672	$209,922	
							
	Total Expenses	$315,125	$88,371	$64,540	$152,911	$327,829	
							
	Excess Revenues (Expenditures)	$0	$78,440	($61,953)	$16,200	$0	

Wilford Preserve
COMMUNITY DEVELOPMENT DISTRICT
General Fund Budget FY 2022
REVENUES:

Assessments/Developer Contributions

The District will levy a non ad-valorem special assessment on all taxable property within the District to fund all of the General Operating Expenditures for the fiscal year and collect from Developer remaining assessments for O&M portion.

Interest

Interest income from bank accounts.

Miscellaneous Revenue

Income received for district.

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 Special Assessment Bond Series 2018B and anticipated issuance of Special Assessments Bonds Series 2019. 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 the District’s Special Assessment Bond Series 2018B and anticipated issuance of Special Assessments Bonds Series 2019. It has contracted with Governmental Management Services, LLC to provide this service.

Attorney

The District's has contracted with Hopping Green & Sams for legal counsel providing general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating & maintenance contracts, etc.

Wilford Preserve
COMMUNITY DEVELOPMENT DISTRICT
General Fund Budget FY 2022
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 and has contracted with Grau and Associates.

Assessment Administration

Governmental Management Services serves as the District’s Assessment Administrator responsible for certifying annual assessments to County Tax Collector, billing and collection of direct assessments, collection of prepaid assessments, maintaining lien book, etc.

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 US Bank and the District for the Special Assessment Bond Series 2018B and anticipated issuance of Special Assessments Bonds Series 2019.

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.

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 Compliance

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

The cost of telephone and fax machine service.

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 FY 2022
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.

Amenity Center:
Insurance (Property)

The District's property Insurance policy is with Florida Insurance Alliance, FIA specializes in providing insurance coverage to governmental agencies. The amount budgeted represents the estimated premium for property insurance related to the Amenity Center.

Pool Monitors

The District will contract with management company to provide personnel to monitor usage of the pool during peak swim season.

Field Operations Manager

The District has contracted with management company to provide Field Operations services, to include supervision of operating and maintaining District's common areas and management of O&M related vendor contracts.

Office Supplies / Mailings / Printing

Consists of mailings to residents, access control expenses, etc.

Wilford Preserve
COMMUNITY DEVELOPMENT DISTRICT
General Fund Budget FY 2022
Pool Maintenance

The District will contract with management company for the maintenance of the Amenity Center pool.

Permit Fees

Represents Permit Fees paid to the Department of Health for the swimming pool.

Landscape Maintenance

The District is contracted with a Yellowstone Landscape to maintain the common areas of the District, landscape light repairs, tree removals, tree trimmings, additional mulching and new projects and replacements.

Contract	Monthly	Annual	
Yellowstone	$	3,329	$	39,948	
Contingency	$	833	$	10,000	
	$	4,162	$	49,948	

Irrigation Maintenance

Cost of miscellaneous repairs and maintenance to irrigation system.

Lake Maintenance

The District has contracted with Solitude Lake Management to maintain the water quality in all the lakes on District property.

General Facility Maintenance

Cost of labor (when outsourced) and supplies for routine repairs and maintenance of the District’s common areas and Amenity Centers, to include painting, pressure washing, carpet cleaning and replacement of lighting in and around the facilities.

Street Lighting

The District will contract with utility company for street lighting cost to the community. The amount is  based upon the agreement plus estimated cost for fuel charges.

Telephone/Cable/Internet

The Amenity Center will contract with vendor to provide phone, cable and internet for Amenity Center.

Electric

The District will contract with utility company for lighting.

Wilford Preserve
COMMUNITY DEVELOPMENT DISTRICT
General Fund Budget FY 2022
Water/Sewer/Irrigation

The District will contract with utility company for water, sewer, and irrigation used by the district.

Refuse Service

The District will contracted with local company for garbage disposal service.

Janitorial Services

The District will contract with company to provide janitorial services for Amenity Centers. Also included are maintenance services.

Special Events

Represents estimated cost for the District to host any special events for the community throughout the Fiscal Year. Costs are partially offset by rental and miscellaneous income.

Recreational Passes

Represents the estimated cost for issuing access cards to the District’s residents for Amenity Center privileges. Residents must purchase replacement cards and receipts are posted to miscellaneous income.

O&M ALLOCATION

PRODUCT TYPE	
# UNITS	
ERU	
TOTAL ERUs	TOTAL ADMIN	ADMIN PER UNIT NET	PLATTED UNITS	PLATTED ERUs	AMENITY GROUNDS
O&M	AMENTIY GROUNDS PER UNIT NET	TOTAL O&M COSTS PER UNIT NET	MAX PER DEV NET	MAX PER DEV O&M GROSS	DEV CONTRIB PER LOT	TOTAL DEV CONTRIB	
COMMON UTILITY ROW
50'	357	1.00	357.00	94,590.53	264.96	109	109.00	172,041.34	1,578.36	1,843.32	658.02	700.00	1,185.30	129,197.91
60'	 	88		1.20	 	105.60	23,316.43	264.96 	24	28.80	37,880.66	1,578.36	1,843.32	658.02	700.00	1,185.30 	28,447.25 
TOTAL	445	462.60   117,906.96	133	137.80	209,922.00	157,645.16

O&M BUDGET			FY22	FY21 ADMIN	$117,906.96 $116,374.96 AMENITY GROUNDS $209,922.00 $198,750.00 TOTAL NET	$327,828.96 $315,124.96 TOTAL GROSS		348,744.45 335,229.93

Wilford  Preserve	Debt Service Fund Community Development District		Series 2018B

	Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Approved
Budget	
Description	FY 2021	4/30/20	5 Months	9/30/21	FY 2022	
Revenues						
Assessments	$276,575	$130,238	$146,338	$276,575	$276,575	
Interest Income	$1,000	$14	$8	$22	$20	
Prepayment	$0	$25,773	$0	$25,773	$0	
Carry Forward Surplus*	$200,910	$446,734	$0	$446,734	$479,142	
Total Revenues	$478,485	$602,759	$146,346	$749,105	$755,737	

Expenditures						
Series 2018B Interest - 11/01	
$139,725	
$139,725	
$0	
$139,725	
$ 130,237.50	
Principal - Prepayment 11/1	$50,000	$265,000	$0	$0	$0	
Interest - 2/1	$0	$934	$0	$0	$0	
Principal - Prepayment 2/1	$0	$65,000	$0	$0	$0	
Interest - 05/1	$138,288	$0	$130,238	$130,238	$ 130,237.50	
Principal - Prepayment 5/1	$0	$0	$0	$0	$0	
Total Expenditures	$328,013	$470,659	$130,238	$269,963	$260,475	
						
Excess Revenues	$150,472	$132,100	$16,108	$479,142	$495,262	

*Reflects  excess  revenue at fiscal year end less reserve  fund amount	11/1/22 Interest	$

130,238

Wilford Preserve
Community Development District
Series 2018B Special Assessment Bonds
AMORTIZATION SCHEDULE

DATE	BALANCE	RATE	PRINCIPAL	INTEREST	TOTAL

11/01/21	$	4,530,000.00	5.750%	$	-	$	130,237.50	$	-	
05/01/22	$	4,530,000.00	5.750%	$	-	$	130,237.50	$	260,475.00	
11/01/22	$	4,530,000.00	5.750%	$	-	$	130,237.50	$	-	
05/01/23	$	4,530,000.00	5.750%	$	-	$	130,237.50	$	260,475.00	
11/01/23	$	4,530,000.00	5.750%	$	-	$	130,237.50	$	-	
05/01/24	$	4,530,000.00	5.750%	$	-	$	130,237.50	$	260,475.00	
11/01/24	$	4,530,000.00	5.750%	$	-	$	130,237.50	$	-	
05/01/25	$	4,530,000.00	5.750%	$	-	$	130,237.50	$	260,475.00	
11/01/25	$	4,530,000.00	5.750%	$	-	$	130,237.50	$	-	
05/01/26	$	4,530,000.00	5.750%	$	-	$	130,237.50	$	260,475.00	
11/01/26	$	4,530,000.00	5.750%	$	-	$	130,237.50	$	-	
05/01/27	$	4,530,000.00	5.750%	$	-	$	130,237.50	$	260,475.00	
11/01/27	$	4,530,000.00	5.750%	$	-	$	130,237.50	$	-	

05/01/28

$	4,530,000.00

5.750%

$	4,530,000.00	$

130,237.50 $

4,790,475.00

$	4,530,000.00   $	2,093,287.50   $	6,623,287.50

Wilford  Preserve	Debt Service Fund Community Development District		Series 2019A

	Approved
Budget	Actual
Thru	Projected
Next	Total
Projected	Approved
Budget	
Description	FY 2021	4/30/20	5 Months	9/30/21	FY 2022	

Revenues						
Assessments	$521,628	$517,063	$4,565	$521,628	$521,628	
Prepayments	$0	$0	$0	$0	$0	
Interest Income	$0	$10	$5	$15	$0	
Carry Forward Surplus*	$226,451	$226,331	$0	$226,331	$205,504	
Total Revenues	$748,079	$743,404	$4,570	$747,974	$727,132	

Expenditures						
Series 2018B Interest - 11/01	

$198,990	

$198,990	

$0	

$198,990	

$196,115	
Principal - Prepayment 11/1	$20,000	$20,000	$0	$20,000	$0	
Interest - 05/01	$198,990	$0	$198,480	$198,480	$196,115	
Principal Expense - 5/01	$125,000	$0	$125,000	$125,000	$130,000	
Total Expenditures	$542,980	$218,990	$323,480	$542,470	$522,230	

Other Sources/(Uses)						
Transfer In/(Out)	$0	$0	$0	$0	$0	
Excess Revenues	$205,099	$524,414	($318,910)	$205,504	$204,902	

*Reflects excess revenue at fiscal year end less reserve  fund amount	11/1/22 Interest	$

193,125

Wilford Preserve
Community Development District

SERIES 2019A AMORTIZATION SCHEDULE (Combined)

DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL	
					
11/1/21	$	7,740,000.00		$	196,115.00	$	196,115.00	
5/1/22	$	7,740,000.00	$	130,000.00	$	196,115.00		
11/1/22	$	7,610,000.00		$	193,125.00	$	519,240.00	
5/1/23	$	7,610,000.00	$	135,000.00	$	193,125.00		
11/1/23	$	7,475,000.00		$	190,020.00	$	518,145.00	
5/1/24	$	7,475,000.00	$	145,000.00	$	190,020.00		
11/1/24	$	7,330,000.00		$	186,685.00	$	521,705.00	
5/1/25	$	7,330,000.00	$	150,000.00	$	186,685.00		
11/1/25	$	7,180,000.00		$	183,235.00	$	519,920.00	
5/1/26	$	7,180,000.00	$	160,000.00	$	183,235.00		
11/1/26	$	7,020,000.00		$	179,555.00	$	522,790.00	
5/1/27	$	7,020,000.00	$	165,000.00	$	179,555.00		
11/1/27	$	6,855,000.00		$	175,430.00	$	519,985.00	
5/1/28	$	6,855,000.00	$	175,000.00	$	175,430.00		
11/1/28	$	6,680,000.00		$	171,055.00	$	521,485.00	
5/1/29	$	6,680,000.00	$	185,000.00	$	171,055.00		
11/1/29	$	6,495,000.00		$	166,430.00	$	522,485.00	
5/1/30	$	6,495,000.00	$	190,000.00	$	166,430.00		
11/1/30	$	6,305,000.00		$	161,680.00	$	518,110.00	
5/1/31	$	6,305,000.00	$	200,000.00	$	161,680.00		
11/1/31	$	6,105,000.00		$	156,680.00	$	518,360.00	
5/1/32	$	6,105,000.00	$	215,000.00	$	156,680.00		
11/1/32	$	5,890,000.00		$	151,305.00	$	522,985.00	
5/1/33	$	5,890,000.00	$	225,000.00	$	151,305.00		
11/1/33	$	5,665,000.00		$	145,680.00	$	521,985.00	
5/1/34	$	5,665,000.00	$	235,000.00	$	145,680.00		
11/1/34	$	5,430,000.00		$	139,805.00	$	520,485.00	
5/1/35	$	5,430,000.00	$	245,000.00	$	139,805.00		
11/1/35	$	5,185,000.00		$	133,680.00	$	518,485.00	
5/1/36	$	5,185,000.00	$	260,000.00	$	133,680.00		
11/1/36	$	4,925,000.00		$	127,180.00	$	520,860.00	
5/1/37	$	4,925,000.00	$	275,000.00	$	127,180.00		
11/1/37	$	4,650,000.00		$	120,305.00	$	522,485.00	
5/1/38	$	4,650,000.00	$	285,000.00	$	120,305.00		
11/1/38	$	4,365,000.00		$	113,180.00	$	518,485.00	
5/1/39	$	4,365,000.00	$	300,000.00	$	113,180.00		
11/1/39	$	4,055,000.00		$	105,430.00	$	518,610.00	
5/1/40	$	4,055,000.00	$	315,000.00	$	105,430.00		
11/1/40	$	3,740,000.00		$	97,240.00	$	517,670.00	
5/1/41	$	3,740,000.00	$	335,000.00	$	97,240.00		
11/1/41	$	3,405,000.00		$	88,530.00	$	520,770.00	
5/1/42	$	3,405,000.00	$	350,000.00	$	88,530.00		
11/1/42	$	3,055,000.00		$	79,430.00	$	517,960.00	
5/1/43	$	3,055,000.00	$	370,000.00	$	79,430.00		
11/1/43	$	2,685,000.00		$	69,810.00	$	519,240.00	
5/1/44	$	2,685,000.00	$	390,000.00	$	69,810.00		
11/1/44	$	2,295,000.00		$	59,670.00	$	519,480.00	
5/1/45	$	2,295,000.00	$	410,000.00	$	59,670.00		
11/1/45	$	1,885,000.00		$	49,010.00	$	518,680.00	
5/1/46	$	1,885,000.00	$	435,000.00	$	49,010.00		
11/1/46	$	1,450,000.00		$	37,700.00	$	521,710.00	
5/1/47	$	1,450,000.00	$	455,000.00	$	37,700.00		
11/1/47	$	995,000.00		$	25,870.00	$	518,570.00	
5/1/48	$	995,000.00	$	480,000.00	$	25,870.00		
11/1/48	$	515,000.00		$	13,390.00	$	519,260.00	
5/1/49	$	515,000.00	$	505,000.00	$	13,390.00		
11/1/49				$	518,390.00	
		$	7,720,000.00	$	7,034,450.00	$	14,754,450.00