North Boulevard
Community Development District

Adopted Budget
FY 2022

Table of Contents

1-2	 	General Fund	

3-6	
 	General Fund Narrative	

7	
 	Series 2017 Debt Service Fund	

8	
 	Series 2017 Amortization Schedule	

9	
 	Series 2019 Debt Service Fund	

10	
 	Series 2019 Amortization Schedule	

11	
 	Capital Reserve Fund	
North Boulevard
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						
Assessments - On Roll	$282,310	$274,490	$7,820	$282,310	$	332,645	
Interest	$1,000	$0	$0	$0	$0	
Other Income	$0	$90	$0	$90	$0	
Total Revenues	$	283,310	$	274,580	$	7,820	$	282,400	$	332,645	

Expenditures						
Administrative						
Supervisor Fees	$	12,000	$	3,600	$3,000	$6,600	$12,000	
Engineering Fees	$	15,000	$	403	$750	$1,153	$10,000	
Dissemination Agent	$	6,500	$	6,500	$0	$6,500	$6,500	
Attorney Fees	$	15,000	$	6,595	$4,641	$11,236	$15,000	
Assessment Administration	$	12,500	$	12,500	$0	$12,500	$5,000	
Reamortization Schedules	$	500	$	250	$0	$250	$0	
Annual Audit	$	6,000	$	4,026	$474	$4,500	$4,600	
Trustee Fees	$	6,000	$	5,374	$0	$5,374	$6,000	
Management Fees	$	25,000	$	24,583	$8,750	$33,333	$36,050	
Information Technology	$	2,700	$	1,725	$975	$2,700	$2,700	
Website Maintenance	$	-	$	-	$0	$0	$1,200	
Postage & Delivery	$	300	$	485	$585	$1,070	$1,100	
Telephone	$	200	$	-	$50	$50	$50	
Printing & Binding	$	1,400	$	15	$138	$153	$400	
Travel Per Diem	$	500	$	-	$0	$0	$0	
Insurance	$	6,176	$	5,920	$0	$5,920	$6,512	
Legal Advertising	$	5,000	$	3,093	$1,907	$5,000	$5,000	
Property Taxes	$	200	$	-	$200	$200	$200	
Contingency	$	8,675	$	858	$1,500	$2,358	$3,000	
Office Supplies	$	-	$	18	$25	$43	$100	
Dues, Licenses & Fees	$	175	$	175	$0	$175	$175	

Total Administrative	$123,826	$76,120	$22,995	$99,115	$115,587	
North Boulevard
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		

Operation and Maintenance						
Field Expenses						
Field Management	$	5,000	$4,375	$1,875	$6,250	$	7,500	
Electric	$	-	$1,899	$1,596	$3,495	$	6,385	
Streetlights	$	19,430	$12,524	$9,780	$22,304	$	26,305	
Property Insurance	$	5,894	$3,708	$0	$3,708	$	4,079	
Landscape Maintenance	$	55,500	$37,948	$13,866	$51,814	$	55,500	
Landscape Replacement & Enhancement	$	4,000	$0	$2,000	$2,000	$	20,000	
Irrigation Repairs	$	2,000	$3,916	$200	$4,116	$	3,000	
General Field Repairs & Maintenance	$	-	$0	$0	$0	$	15,000	
Storm Cleanup & Repairs	$	15,000	$0	$1,500	$1,500	$	-	
Contingency
   $	3,981	$3,600	$1,400	$5,000	$	5,000 
Subtotal	 	$110,805	$67,970	$32,217	$100,188	$142,769 

Amenity Expenses
Inter-Governmental Expense

$	42,384

$50,263	$0	$50,263	$

57,994
Playground Lease

Subtotal
   $	6,295	$4,831	$1,574	$6,405	$	6,295 
   $	48,679	$55,094	$1,574	$	56,668	$	64,289 

Subtotal Field Expenses	$	159,484	$	123,065	$	33,791	$	156,856	$	207,058	
						
Total Expenditures	$	283,310	$	199,184	$	56,786	$	255,971	$	322,645	

Other Financing Sources/Uses:
Capital Reserve	

$	-	

$	-	

$	-	

$	-	

$	10,000	
Total Other Financing Sources/Uses	$	-	$	-	$	-	$	-	$	10,000	
						
Excess Revenues/(Expenditures)	$	0	$	75,395	$	(48,966)	$	26,430	$	20,000	

Net Assessments	$	332,645	
Add: Discounts & Collections 7%	$25,038	
Gross Assessments	$357,683	

Product	ERU's	Assessable Units	ERU/Unit	Net Assessment	Net Per Unit	Gross Per Unit	
Platted	389.00	389.00	1.00	$332,644.96	$855.13	$919.49	
							
North Boulevard Community Development District
General Fund Budget

REVENUES:

Assessments

The District will levy a non-ad valorem assessment on all assessable property within the District to fund all general operating and maintenance expenditures during 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. Amount is based on 5 Supervisors attending 5 meetings during the fiscal year.

Engineering Fees

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.

Dissemination Agent

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

Attorney Fees

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.

Assessment Administration

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

Annual Audit

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

Trustee Fees

The District will pay annual trustee fees for the proposed bonds.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services.
North Boulevard Community Development District
General Fund Budget

Information Technology

Represents costs related to the District’s accounting and information systems, District’s website creation and maintenance, electronic compliance with Florida Statutes and other electronic data requirements.

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.

Postage & Delivery

Mailing of agenda packages, overnight deliveries, correspondence, etc.

Telephone

Telephone and fax machine.

Printing & Binding

Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc.

Insurance

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

Legal Advertising

The District is required to advertise various notices for monthly Board meetings, public hearings, etc in a newspaper of general circulation.

Property Taxes

Represents costs related to the county property tax.

Contingency

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

Office supplies

Costs for general office supplies needed for the district.

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.
North Boulevard Community Development District
General Fund Budget

Operation and Maintenance Field Expenditures:

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.

Electric

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

Street Lights

Encompasses the budgeted amount for the District’s decorative light poles and fixtures in various locations.

Property Insurance

The District’s property insurance coverages.

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 & Enhancement

Represents the estimated cost of replacing landscaping within the common areas of the District. This includes annual mulching and yearly general plant and sod replacements.

Irrigation Repairs

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

General Field Repairs & Maintenance

The estimated costs that the District will incur for repairs and maintenance. This includes sidewalks, roads, fences, lighting features, and monuments.

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any field category.
North Boulevard Community Development District
General Fund Budget

Amenity Expenses

Inter-Governmental Expense – Holly Hill Road East CDD

The District will enter into an Interlocal Agreement with Holly Hill Road East Community Development District (CDD) for the use of their amenity facilities. This cost is based on the overall amenity budget of Holly Hill Road East CDD.

Playground Lease

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

Other Financing Sources/Uses

Capital Reserve

Represents projected excess funds transfer out to the Capital Projects Fund
North Boulevard
Community Development District Adopted Budget
Debt Service Fund Series 2017

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

Revenues							
Assessments - Tax Roll	$	334,144	$	251,008	$	7,203	$	258,211	$	248,150				
Interest	$	-	$	8	$	6	$	14	$	-				
Carry Forward Surplus (1)	$	-	$	106,600	$	-	$	106,600	$	117,912		
Total Revenues	$	334,144	$	357,616	$	7,209	$	364,824	$	366,062		

Expenditures							
Interest - 11/1	$	88,456	$	88,456	$	-	$	88,456	$	87,231		
Principal - 5/1	$	70,000	$	70,000	$	-	$	70,000	$	75,000		
Interest - 5/1	$	88,456	$	88,456	$	-	$	88,456	$	87,231		
Total Expenditures	$	246,913	$	246,913	$	-	$	246,913	$	249,463		
							
Excess Revenues/(Expenditures)	$	87,231	$	110,703	$	7,209	$	117,912	$	116,599		
	
Interest - 11/1/2022	
$	85,918.75					

(1) Carryforward Surplus is net of Debt Service Reserve Funds	Total	$	85,918.75					
North Boulevrd Community Development District Series 2017 Special Assessment Bonds
Amortization Schedule

- 5,000.00
- 5,000.00
- 0,000.00
- 0,000.00
- 5,000.00
- 0,000.00
- 0,000.00
- 5,000.00
- 0,000.00
- 5,000.00
- 0,000.00
- 5,000.00
- 0,000.00
- 5,000.00
- 5,000.00
- 0,000.00
- 5,000.00
- 5,000.00
- 0,000.00
- 0,000.00
- 0,000.00
- 5,000.00
- 5,000.00
- 5,000.00
- 5,000.00
-
0,000.00
- 0,000.00

North Boulevard
Community Development District Adopted Budget
Debt Service Fund Series 2019

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

Revenues							
Assessments - Tax Roll	$	353,947	$	232,882	$	6,683	$	239,564	$	212,194				
Assessments - Prepayment	$	-	$	107,734	$	-	$	107,734	$	-				
Assessments - Lot Closings	$	-	$	1,418	$	-	$	1,418	$	-				
Assessments - Other	$	-	$	16,119	$	-	$	16,119	$	-				
Interest	$	-	$	13	$	4	$	18	$	-			
Carry Forward Surplus (1)	$	-	$	462,141	$	-	$	462,141	$	161,047			
Total Revenues	$	353,947	$	820,307	$	6,687	$	826,994	$	373,241			

Expenditures							
Interest - 11/1	$	100,428	$	91,903	$	-	$	91,903	$	80,134			
Special Call - 11/1	$	40,000	$	155,000	$	-	$	155,000	$	40,000			
Principal - 11/1	$	15,000	$	15,000	$	-	$	15,000	$	25,000			
Special Call - 2/1	$	-	$	155,000	$	-	$	155,000	$	-			
Interest - 2/1	$	-	$	2,097	$	-	$	2,097	$	-			
Special Call - 5/1	$	-	$	55,000	$	-	$	55,000	$	-			
Interest - 5/1	$	99,259	$	83,197	$	-	$	83,197	$	80,134			
Total Expenditures	$	254,688	$	557,197	$	-	$	557,197	$	225,269			

Other Sources/(Uses)							
Transfer In(Out)	$	-	$	(108,750)	$	-	$	(108,750)	$	-		
Total Other Sources/(Uses)	$	-	$	(108,750)	$	-	$	(108,750)	$	-		
							
Excess Revenues/(Expenditures)	$	99,259	$	154,360	$	6,687	$	161,047	$	147,972		
	
Interest - 11/1/2022	
$	80,134.38					
	Principal - 11/1/2022	$	50,000.00					

(1) Carryforward Surplus is net of Debt Service Reserve Funds	Total	$	130,134.38					
North Boulevrd Community Development District Series 2019 Special Assessment Bonds
Amortization Schedule

5,000.00
- 0,000.00
- 0,000.00
- 5,000.00
- 5,000.00
- 0,000.00
- 0,000.00
- 5,000.00
- 5,000.00
- 0,000.00
- 5,000.00
- 0,000.00
- 5,000.00
- 0,000.00
- 5,000.00
- 5,000.00
- 5,000.00
- 0,000.00
- 5,000.00
- 0,000.00
- 0,000.00
- 5,000.00
- 5,000.00
- 0,000.00
- 0,000.00
- 0,000.00
- 0,000.00
- 5,000.00
- 0,000.00

North Boulevard
Community Development District

Adopted Budget Capital Reserve Fund

Proposed	Actuals	Projected	Projected	Adopted	
Budget
Description	FY2021	Thru
3/31/21	Next
6 Months	Thru
9/30/21	Budget
FY2022	

Revenues
Carry Forward Surplus

$	-	$

-	$	-	$

-	$	-

Expenditures
Capital Outlay

$	-	$

-	$	-	$

-	$	-

Other Financing Sources/Uses:
Transfer In

$	-	$

-	$	-	$

-	$	10,000