Falcon Trace Community Development District Adopted Budget FY 2024 1-2 3-6 7 Table of Contents General Fund Capital Reserve Fund General Fund Narrative Adopted Actuals Projected Description FBYu2d0g2e3t 6/T3h0r/u23 3 MNoenxtths P9r/oT3jhe0rc/ut2e3d AFBdYu2odp0gt2ee4td REVENUES: Maintenance Assessments $355,855 $350,996 $4,859 $355,855 $355,855 Miscellaneous Income $100 $2,725 $681 $3,406 $500 Interest Income $100 $6,901 $1,725 $8,627 $1,500 Carry Forward Balance $113,879 $ 212,180 $0 $212,180 $136,577 TOTAL REVENUES $ 469,934 $ 572,802 $ 7,266 $ 580,068 $ 494,432 EXPENDITURES: Administrative: Supervisors Fees $8,000 $5,600 $2,400 $8,000 $8,000 FICA Expense $612 $428 $184 $612 $612 Engineering Fees $1,000 $0 $250 $250 $1,000 Assessment Roll $5,000 $5,000 $0 $5,000 $5,000 Attorney Fees $18,800 $15,911 $2,889 $18,800 $25,000 Annual Audit $3,600 $2,850 $0 $2,850 $2,950 Management Fees $57,496 $43,122 $14,374 $57,496 $60,946 Information Technology $1,375 $1,031 $344 $1,375 $1,458 Website Maintenance $750 $563 $188 $750 $795 Telephone $50 $0 $10 $10 $50 Postage $800 $107 $50 $157 $800 Printing and Binding $600 $494 $106 $600 $600 Insurance $14,242 $12,825 $0 $12,825 $14,034 Legal Advertising $2,500 $1,825 $675 $2,500 $2,500 Contingency $2,000 $132 $105 $237 $2,000 Property Appraiser $1,000 $0 $1,000 $1,000 $1,000 Office Supplies $350 $78 $20 $98 $350 Dues, Licenses, & Subscriptions $175 $175 $0 $175 $175 TOTAL ADMINISTRATIVE $ 118,350 $ 90,139 $ 22,595 $ 112,734 $ 127,269 Falcon Trace Community Development District Adopted Budget General Fund 1 Adopted Actuals Projected Description FBYu2d0g2e3t 6/T3h0r/u23 3 MNoenxtths P9r/oT3jhe0rc/ut2e3d AFBdYu2odp0gt2ee4td Falcon Trace Community Development District Adopted Budget General Fund Maintenance: Field Management $21,547 $16,160 $5,387 $21,547 $22,840 Property Insurance $10,964 $9,991 $0 $9,991 $14,987 Pool Staff Payroll $83,047 $50,154 $32,893 $83,047 $88,030 Security $1,500 $755 $252 $1,007 $1,500 Telephone Expense $2,880 $2,232 $756 $2,988 $3,175 Electric $18,150 $14,834 $5,700 $20,534 $21,420 Irrigation/Water $14,850 $10,245 $3,930 $14,175 $15,593 Lake Maintenance $10,290 $4,000 $1,200 $5,200 $10,290 Pest Control $683 $0 $171 $171 $683 Pool Maintenance $33,902 $20,281 $7,500 $27,781 $33,902 Grounds Maintenance $36,071 $33,448 $7,370 $40,818 $39,230 General Facility Maintenance $35,000 $15,387 $3,000 $18,387 $35,000 Refuse Service $6,700 $7,626 $2,970 $10,596 $10,000 Field Contingency $6,000 $3,016 $1,500 $4,516 $6,000 TOTAL MAINTENANCE $ 281,584 $ 188,130 $ 72,628 $ 260,758 $ 302,648 Other Sources/(Uses) Transfer Out - Capital Reserve $70,000 $0 $70,000 $70,000 $64,514 TOTAL OTHER SOURCES/(USES) $ 70,000 $ - $ 70,000 $ 70,000 $ 64,514 TOTAL EXPENDITURES $ 469,934 $ 278,269 $ 165,223 $ 443,491 $ 494,432 EXCESS REVENUES (EXPENDITURES) $ - $ 294,534 $ (157,957) $ 136,577 $ - Net Assessments $355,855 Add: Discounts & Collections (6%) $22,714 Gross Assessments $378,569 Total Units 902 Gross Per Unit Assessment $ 419.70 2 FALCON TRACE COMMUNITY DEVELOPMENT DISTRICT GENERAL FUND BUDGET REVENUES: MAINTENANCE ASSESSMENTS The District will levy a Non-Ad Valorem assessment on all of the assessable property within the District in order to pay for the operating expenditures during the fiscal year. MISCELLANEOUS INCOME The District will receive income from guest fees, including rental income and pool access cards. INTEREST INCOME The District earns interest income on their operating accounts and other investments. EXPENDITURES: ADMINISTRATIVE: SUPERVISORS FEES The Florida Statutes allows each supervisor to be paid per meeting, for the time devoted to District business and board meetings. The amount for the fiscal year is based upon 5 supervisors attending 8 monthly meetings. FICA EXPENSE Represents the Employer's share of Social Security and Medicare taxes withheld from Board of Supervisors checks. ENGINEERING FEES Estimated cost for providing general engineering services to the District on an as needed basis as directed by the Board of Supervisors. ASSESSMENT ROLL The District has contracted with Governmental Management Services – Central Florida, LLC. to levy and administer the collection of a Non-Ad Valorem assessment on all assessable property within the District. ATTORNEY FEES The District's attorney, Kutak Rock LLP, provides general legal services to the District, e.g., attendance and preparation for monthly meetings, reviewing contracts, 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. The District’s auditing firm is Grau & Associates. MANAGEMENT FEES The District has contracted with Governmental Management Services-Central Florida, LLC to provide Management, Accounting and Recording Secretary Services for the District. The services include, but not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reporting, annual audits, etc. INFORMATION TECHNOLOGY Represents various cost of information technology for the District such as cepltrocou. tGdeoc tvsietoornnr,a mgeean cctaaonlud Mn tasinneragvg eermsso,e ftnpwto aSsreietri,vv iec teaspb-aClyee tnsi tmrapflol eFrm loermindetaae,t tLiionLngC s, ,ap nrdoAv dipodrbeoesg ,t r hvaeiMmdseeimc osri eoncrosgvon ifffcteoe rrse .O nffrcfaiincuged,, 3 FALCON TRACE COMMUNITY DEVELOPMENT DISTRICT GENERAL FUND BUDGET WEBSITE MAINTENANCE Represents the costs associated with monitoring and maintaining the Cchproeeernsafttotirneradgml Faailnnnod creai dd caaocs,om sLreLadsiCasnn,m pcreereno nvtwesiwd,i tseahesl sc tC,u hhwreaisetpyebt sseaierntr edv1 bi8fcaie9rcse,k .w uFaplolslr, imdetaac i.n SGtteaontvuaetnrencsem. , Teunhptedasale tM essae, nrd avoDgiccieusemtsmr eiecinnntt’ct sl S uuewdpreevlob icassediittssee-, TELEPHONE The District incurs charges for telephone and facsimile services. POSTAGE Mailing of Board meeting agenda packages, overnight deliveries, checks for vendors and any other required correspondence. PRINTING AND BINDING Printing and binding agenda packages for board meetings, printing of computerized checks, correspondence, stationary, etc. INSURANCE The District’s general liability and public officials’ liability insurance coverage is provided by the Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies. LEGAL ADVERTISING Advertising of 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. CONTINGENCY Represents estimated bank charges and any other miscellaneous charges that the District may incur during the fiscal year. PROPERTY APPRAISER Represents the fees to be paid to the Orange County Property Appraiser’s office for assessment administration services. 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 Opportunities for $175. This is the only expense under this category for the District. MAINTENANCE: FIELD MANAGEMENT Provide onsite field management of contracts for the District per the management consulting contract with Governmental Management Services - Central Florida, LLC. Services to include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails. PROPERTY INSURANCE The District’s property insurance coverage is provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies. 4 FALCON TRACE COMMUNITY DEVELOPMENT DISTRICT GENERAL FUND BUDGET POOL STAFF PAYROLL The District has contracted with Governmental Management Services - Central Florida, LLC. to hire and supervise pool attendants; coordinate all facility operations and be the contact point for answering questions and solving problems for residents. Account line includes staff hours for the fiscal year, all related benefits, and a contingency for projects and a pay increase. SECURITY This represents the cost of monthly monitoring of the security system to the recreation center. MONTHLY ANNUAL DESCRIPTION AMOUNT AMOUNT SAFETOUCH $84 $1,007 CONTINGENCY $493 $1,500 TELEPHONE EXPENSE This fee represents telephone and facsimile charges for the recreational facility. MONTHLY ANNUAL DESCRIPTION AMOUNT AMOUNT BRIGHTHOUSE - ACCOUNT # 0050710061-01 $252 $3,024 CONTINGENCY $151 $3,175 ELECTRIC The District has electrical accounts with Duke Energy for the recreation facility and other District areas. IRRIGATION/WATER This item represents utility service costs for water and wastewater MONTHLY ANNUAL DESCRIPTION AMOUNT AMOUNT ORANGE COUNTY UTILITIES - ACCOUNT # 0038166200 $894 $10,727 CONTINGENCY $4,866 $15,593 LAKE MAINTENANCE Maintenance consists of treatment of the lake edge on the pond area by the recreation center. Costs are based on estimated service costs. MONTHLY ANNUAL DESCRIPTION AMOUNT AMOUNT AQUATIC WEED MANAGEMENT $420 $5,040 ADDITIONAL TREATMENTS $5,250 $10,290 MONTHLY ANNUAL DESCRIPTION AMOUNT AMOUNT DUKE ENERGY - ACCOUNT # 63686 18371 CONTINGENCY $1,7 00 $20,400 $1,020 $21,420 5 FALCON TRACE COMMUNITY DEVELOPMENT DISTRICT GENERAL FUND BUDGET PEST CONTROL Scheduled maintenance consists of monthly interior and exterior service at Big Hawk Lake recreation center. POOL MAINTENANCE Scheduled maintenance consists of maintaining the pool, maintaining the chlorine balance in the pool, and monthly purchase of a CO2 tank. Unscheduled maintenance consists of shocking the pool, extra chlorine treatments, or unforeseen repairs. MONTHLY ANNUAL DESCRIPTION AMOUNT AMOUNT ROBERTS POOL SERVICE AND REPAIR INC $650 $7,800 POOL MAINTENANCE & CHEMICALS $13,200 CONTINGENCY $12,902 $33,902 GROUNDS MAINTENANCE Scheduled maintenance consists of mowing turf, landscape maintenance, trash pickup on the common areas, and all regular landscaping maintenance activities. Unscheduled maintenance consists of repairs or replacement of damaged areas. ANNUAL DESCRIPTION AMOUNT LANDSCAPE MAINTENANCE $33,000 IRRIGATION REPAIRS $1,500 CONTINGENCY $4,730 $39,230 GENERAL FACILITY MAINTENANCE Scheduled maintenance consists of cleaning the recreation center, replacing light bulbs for the tennis courts, performing any necessary general maintenance, painting, electrical and plumbing repairs, and repairing any other damages. REFUSE SERVICE Scheduled maintenance consists of regular trash removal. FIELD CONTINGENCY The current year contingency represents the potential excess of unscheduled maintenance expenses not included in budget categories or not anticipated in specific line items. OTHER SOURCES AND USES: TRANSFER OUT - CAPITAL RESERVE Excess funds transfer out to Capital Reserve fund. 6 Adopted Actuals Projected Description FBYu2d0g2e3t 6/T3h0r/u23 3 MNeoxntths P9r/To3jhe0rc/ut2e3d AFBdYu2odp0gt2ee4td REVENUES: IBnetgeirnensitng Fund Balance $157,0$8500 $217,4$6113 $$05 $217,4$6118 $191,3$6590 TOTAL REVENUES $ 157,130 $ 217,474 $ 5 $ 217,479 $ 191,419 EXPENDITURES: FFLPPRMlaeaaeoinnirssoncktcdrreteisioinln/nclogaagSgm npeLcee oRuo tIe rumSinstepyoavrlioanvtgieomnents $$$111005,,,000000$$$$0000000 $$12$663$,,,37634705$$$0005000 $$$111$$01539,,,,,0030600509$$0000500 $$$$$1111400159,,,,,0003700047$$0000000 $$$$1111$00556,,,,,0000000000$$0000000 TOTAL EXPENDITURES $ 35,000 $ 47,065 $ 49,045 $ 96,110 $ 56,000 OTHER SOURCES/(USES) Transfer In - General Fund $70,000 $0 $70,000 $70,000 $64,514 TOTAL OTHER SOURCES/(USES) $70,000 $0 $70,000 $70,000 $64,514 EXCESS REVENUES $ 192,130 $ 170,410 $ 20,960 $ 191,369 $ 199,933 Falcon Trace Community Development District Adopted Budget Capital Reserve 7