Adopted Budget	
Fiscal Year 2024	

Reserve	
Community Development District	

June 13, 2023

Reserve	
Community Development District	

$5,000		$4,000	
$383		$306	
$11,971		$11,971	
$6,192		$6,192	
$1,500		$5,500	
$0		$3,852	
$24,500		$17,500	
$875		$625	
$0		$50	
$1,532		$1,094	
$498		$356	
$700		$500	
$21,616		$15,440	
$298		$1,000	
$3,728		$2,663	
$583		$417	
$293		$209	
$175		$0	
	$79,844 			$71,675 	

Adopted	
Budget	
	FY2023		

Actual	
thru	
	4/30/2023		

Projected	
Next	
	5 Months		

Total	
Projected at	
	9/30/2023		

Adopted	
Budget	
	FY2024		

 Description	

REVENUES:	
Water Revenue	
Sewer Revenue	
Misc. Income	
Interest Income	
Rental Income	
Connection Fees	

$820,000	
$795,000	
$5,500	
$2,000	
$6,000	
$0	

$566,689	$404,778	
$509,190	$363,707	
$5,297	$3,784	
$57,604	$28,802	
$5,000	$3,571	
$3,310	$0	

$971,467	$820,000	
$872,897	$795,000	
$9,081	$5,500	
$86,405	$30,000	
$8,571	$6,000	
$3,310	$0	

TOTAL REVENUES		$1,628,500 			$1,147,089 			$804,642 			$1,951,731 			$1,656,500 	
EXPENSES:										

Administrative:	
Supervisors Fees	
FICA Expense	
Engineering	
Attorneys Fees	
Annual Audit	
Trustee Fees	
Management Fees	
Computer Time	
Telephone	
Postage	
Printing & Binding	
Rentals & Leases	
Insurance	
Legal Advertising	
Bank Charges	
Website Compliance	
Office Supplies	
Dues, Licenses	

$10,000	
$765	
$15,000	
$5,000	
$8,000	
$4,000	
$42,000	
$1,500	
$150	
$2,500	
$1,200	
$1,200	
$40,908	
$2,000	
$6,000	
$1,000	
$500	
$175	

$9,000	
$689	
$23,943	
$12,384	
$7,000	
$3,852	
$42,000	
$1,500	
$50	
$2,627	
$854	
$1,200	
$37,056	
$1,298	
$6,391	
$1,000	
$502	
$175	

$10,000	
$765	
$20,000	
$10,000	
$7,100	
$4,000	
$42,000	
$1,500	
$150	
$2,500	
$1,200	
$1,200	
$50,861	
$2,000	
$6,000	
$1,000	
$500	
$175	

TOTAL ADMINISTRATIVE		$141,898 		$151,519 		$160,951 

Plant and Field Operations:	
Salaries/Benefits	
FICA	
Workers Comp Insurance	
Consulting Services	
Telephone	
Answering Service	
Postage	
Electric	
Bulk Water/Sewer Purchase	
Repairs & Maintenance	
Condo Expenses	
Office Supplies	
Operating Supplies	
Chemicals	
Filter Media	
Dues & Licenses	

$107,934	
$8,257	
$6,511	
$102,800	
$11,300	
$1,200	
$19,200	
$45,000	
$700,000	
$25,000	
$6,100	
$3,000	
$40,000	
$40,000	
$5,000	
$4,500	

$54,863	$39,188	
$4,223	$3,017	
$4,201	$0	
$70,010	$50,007	
$5,696	$4,068	
$791	$565	
$10,315	$7,368	
$32,787	$23,419	
$503,764	$359,831	
$4,989	$3,564	
$3,165	$2,261	
$196	$140	
$12,467	$8,905	
$28,157	$20,112	
$0	$5,000	
$650	$2,500	

$94,052	$115,057	
$7,240	$8,802	
$4,201	$6,511	
$120,017	$113,080	
$9,764	$10,000	
$1,356	$1,500	
$17,684	$19,200	
$56,206	$55,000	
$863,596	$825,000	
$8,553	$12,000	
$5,426	$6,100	
$336	$1,000	
$21,372	$25,000	
$48,269	$45,000	
$5,000	$2,500	
$3,150	$2,500	

TOTAL FIELD		$1,125,802 			$736,276 			$529,946 			$1,266,222 			$1,248,250 	
TOTAL EXPENSES		$1,267,700 			$816,120 			$601,621 			$1,417,741 			$1,409,201 	
										
OPERATING INCOME		$360,800 			$330,970 			$203,020 			$533,990 			$247,299 	
										
Debt Service Coverage %	172%						255%		118%	

Reserve	
Community Development District	

Adopted	
Budget	
	FY2023		

Actual	
thru	
	4/30/2023		

Projected	
Next	
	5 Months		

Total	
Projected at	
	9/30/2023		

Adopted	
Budget	
	FY2024		

 Description	

NON-OPERATING INCOME/(EXPENSE)

	($328,912)			$328,912 			$0 			$0 	

Renewal & Replacement	$0	($328,912)	$328,912	$0	$0

TOTAL NON-OPERATING		$0 

	$122,077 			$87,199 	

DEBT SERVICE

Series 2013	
Principal Expense	
Interest Expense	

$180,000	
$29,276	

$105,000	
$17,077	

$75,000	
$12,199	

$180,000	
$29,276	

$185,000	
$24,781	

TOTAL DEBT SERVICE		$209,276 		$209,276 		$209,781 

EXCESS REVENUES (EXPENSES 	$151,524 		($120,019)		$444,733 		$324,714 		$37,518 

Reserve	
Community Development District	

 	
Series 2013, Utility Revenue Refunding Bonds	
Amortization Schedule	

PRINCIPAL	
	BALANCE		

	DATE			RATE			INTEREST			PRINCIPAL			TOTAL	

1-Apr-19	$1,835,000.00	2.500%	$23,192.36	$0.00	
1-Oct-19	$1,835,000.00	2.500%	$23,319.79	$165,000.00	$211,512.15	
1-Apr-20	$1,670,000.00	2.500%	$21,222.92	$0.00	
1-Oct-20	$1,670,000.00	2.500%	$21,222.92	$170,000.00	$212,445.84	
1-Apr-21	$1,500,000.00	2.500%	$18,958.33	$0.00	
1-Oct-21	$1,500,000.00	2.500%	$19,062.50	$170,000.00	$208,020.83	
1-Apr-22	$1,330,000.00	2.500%	$16,809.72	$0.00	
1-Oct-22	$1,330,000.00	2.500%	$16,902.08	$175,000.00	$208,711.80	
1-Apr-23	$1,155,000.00	2.500%	$14,597.92	$0.00	
1-Oct-23	$1,155,000.00	2.500%	$14,678.13	$180,000.00	$209,276.05	
1-Apr-24	$975,000.00	2.500%	$12,390.63	$0.00	
1-Oct-24	$975,000.00	2.500%	$12,390.63	$185,000.00	$209,781.26	
1-Apr-25	$790,000.00	2.500%	$9,984.72	$0.00	
1-Oct-25	$790,000.00	2.500%	$10,039.58	$190,000.00	$210,024.30	
1-Apr-26	$600,000.00	2.500%	$7,583.33	$0.00	
1-Oct-26	$600,000.00	2.500%	$7,625.00	$195,000.00	$210,208.33	
1-Apr-27	$405,000.00	2.500%	$5,118.75	$0.00	
1-Oct-27	$405,000.00	2.500%	$5,146.88	$200,000.00	$210,265.63	
1-Apr-28	$205,000.00	2.500%	$2,605.21	$0.00	
1-Oct-28	$205,000.00	2.500%	$2,605.21	$205,000.00	$210,210.42	

	$265,456.61		$1,835,000.00		$2,100,456.61

**Revised for special call on 10/1/2018.

REVENUES:

Water Revenue

The estimated amount that will be billed to users of the potable water system of the District based upon average monthly consumption, current utility rates in effect and projected number of users during the fiscal year.

Wastewater Revenue

The estimated amount that will be billed to users of the wastewater system of the District based upon average monthly consumption, current utility rates in effect and projected number of users during the fiscal year.

Miscellaneous Income

The District charges a 10% late penalty on delinquent monthly utility accounts up to a maximum of $2,160 per meter.

Rental Income

The District owns an office condo which will be used by other entities. A monthly rental fee will be charged for the use of the space.

Interest Income

The District invests its excess funds with the Florida State Board of Administration. Also includes interest earned on bond funds invested in Money Market account.

EXPENSES:

ADMINISTRATIVE:

Supervisor Fees/FICA Expense

The District anticipates 10 meetings per year with five board members in attendance and each receiving $200.00 per meeting plus payroll taxes.

Engineering Fees

The District currently has a contract with Kimley-Horn and Associates to provide engineering services. The contract includes the preparation of an engineering report, attendance of monthly board meetings, reviewing requisitions and invoices, etc.

Attorney

The District has a contract with Torcivia, Donlan, Goldeay & Ruben, PA as legal counsel to the District. The contract includes general legal services, preparation and attendance of monthly meetings, agreement and contract review, etc.

Annual Audit

The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm. The District currently has a contract with Grau and Associates.

Trustee Fee

The District issued Series 2013 Utility Revenue Refunding Bonds that are held by a trustee at U.S. Bank. The fee is based upon the current contract with U.S. Bank.

ADMINISTRATIVE: (continued) Management Fees
The following services are provided to the District by a Management contract with GMS-South Florida, LLC.	The services provided are further outlined in Exhibit of the contract.

Computer Time

The District processes the financial activities, i.e. accounts payable, financial statements, utility billing, etc. on a mainframe computer leased by GMS-South Florida, LLC.

Telephone

Telephone and fax machine, amount based on prior years’ cost.

Postage

Mailing of agenda packages, overnight deliveries, correspondence, etc., based on prior years cost.

Printing & Binding

Accounts Payable checks, stationery, envelopes, photocopies, etc.

Rental & Leases

The District will be charged $100.00 per month for office rent from GMS-South Florida, LLC where the District’s administrative offices are located.

Insurance

Egis Insurance & Risk Advisors, who specializes in providing local governments with insurance coverage currently, holds the District’s insurance policy. The District’s coverage includes General Liability, Workers’ Comp, Property, Plant and Automobile.

Legal Advertising

Represents cost associated with legal advertising requirements of the District for monthly meetings, public hearings, notice to bidders, etc.

Other Current Charges

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

Website Compliance

Per Chapter 2014-22, Laws of Florida, all Districts must have a website to provide detailed information on the CDD as well as links to useful websites regarding Compliance issues. This website will be maintained by GMS-SF, LLC and updated monthly.

Office Supplies

Miscellaneous Office Supplies based on prior years’ cost.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Department of Economic Opportunity for $175.00.

PLANT AND FIELD OPERATIONS:

Personnel

The District currently has two employees to assist the District in the operations of its water and wastewater utility plant and part time help for monthly meter readings. This includes salary and FICA taxes. The FY2024 amounts include a 5% Cost of Living Adjustment from the FY2023 actuals:

Description	Amount
Operator I	$68,927
Operator II - Part Time	$21,130
Overtime/Extra Pay/Contingencies	$25,000

Worker’s Compensation Insurance

The District’s Worker’s Compensation Insurance Policy is with Egis Insurance & Risk Advisors. Based on last year’s amount, the projected amount for this Fiscal Year is $6,511.

Health Insurance

Represents a monthly reimbursement for Health Insurance coverage to employees.

Other Contractual

The District will contract the Lime Sludge hauling services related to the operations of the District’s water and wastewater utility system.

Consulting Services

The District will contract the following services related to the operations of the District’s water and Wastewater utility system, includes payroll and benefits:

Description
Utility Billing Manager	
$3,000 per pay period	Amount
$78,000	
District Consultant	$2,000 per month	$24,000	
Contingency		$13,057	

Telephone	Total	$115,057	
Telephone and fax machine, amount based on	prior years’ cost.		
Description		Amount	
Comcast/Phone/Fax/Internet	$470 avg/month	$5,640	
R. Riniolo Cell Reimb	$100 /month	$1,200	
T. Perkins Cell Reimb	$100 /month	$1,200	
Contingency		$1,960	
	Total	$10,000	
Answering Service			

The District has contracted with A Personal Answering Service to handle the off-hours calls. The rate averages $100 per month.

Postage

The District currently contracts with InfoSend to print and mail the monthly Utility invoices to the customers.

PLANT AND FIELD OPERATIONS: (continued)

Electric

The District currently has the following utility accounts with Florida Power & light:

07958-53373	9710 Reserve Blvd # LS	
18601-58268	Plantation Lakes Dr # Lift Station 7	
20545-80333	9491 Brandywine Ln #LS	
23613-27766	2160 NW Reserve Park Trace	
23843-26761	Commerce Lakes D #LS S-3	
28708-21028	Club House Dr - LS	
38178-27003	5860 Legends Dr # LS	
38208-21092	9541 Legends Dr # Lift Station	
38258-26013	7855 Legends Dr # LS	
48958-26008	Legends Dr # Lift Sta S1 T-8	
52582-41529	1916 Perfect Drive LS	
65271-37274	8350 Mulligan Rd # Lift	
72514-30166	8795 Champions Way # Lift	
88950-40098	0857 Links Way # Lift Station	
94346-01549	202 Dogleg Dr #Lift Station	
98516-72221	8501 NW Commerce Center Dr Lift Station	

Bulk Water & Sewer

The District has an interconnect agreement with the St. Lucie West Services District to provide bulk potable water and bulk sewer. The District has reserved 500,000 gallons per day of water capacity and 360,000 per day of sewer capacity. The amount budgeted includes a $760.31 monthly base charge and average usage of 310,000 GPD for water and 233,000 GPD for sewer.

Repairs & Maintenance

Represents any repairs and maintenance cost the District may incur. The amount for the Fiscal Year is based on historical costs.

Condo Expenses

This represents the costs associated with the office condo owned by the District. Expenses include Condo Fees, electric and cleaning costs.

Office Supplies

Any supplies needed for normal operations of the District Utility Billing office.

PLANT AND FIELD OPERATIONS: (continued)

Operating Supplies

Purchase of supplies for the District. Amount based on the following items:

Description	Amount	
General Supplies	$ 12,500	
Oil/Gas	$ 4,500	
Misc.	$ 8,000	
Total

Chemicals	$ 25,000	

Represents all necessary chemicals for the utility plat.

Dues, Licenses

The Utility operates are required to have and keep current their Water/Wastewater Operators licenses. In addition, the District pays an Annual Drinking Water License to the Florida DEP.