Lake St. Charles
Community Development District

Operating CDD Budget

Fiscal Year 2003-2004

Adopted by the CDD Board on August 18, 2003

LAKE ST. CHARLES

COMMUNITY DEVELOPMENT DISTRICT

Operating Budget By Item Description

Fiscal Year 2003-2004

REVENUES:

Interest Earnings

Funds in the General Funds and the Debt Service accounts are invested.  These amounts represent the earnings on these  funds.

Debt Service Assessments

A percentage of the levied assessments are transferred from the General Fund to the Debt Service Fund to retire the debt service due.

Operations & Maintenance Assessments

The District levies Non-Ad Valorem Assessments on all of the assessable property within the District to pay for operating expenditures incurred during the Fiscal Year.  

Clubhouse Rental

The District makes the clubhouse available for private functions.  This amount represents the rental revenue during the year.

EXPENDITURES:

Administrative

Legislative

“Each Supervisor shall be entitled to receive for his or her services an amount not to exceed $200.00 per meeting for the Board of Supervisors, not to exceed $4,800.00 per year per supervisor.” (Florida Statutes 190.006(8))  This amount represents five board members attending twelve meetings per year.

District Manager

The District has contracted with Rizzetta & Company to manage the ongoing operation of the District.  The amount represents payment for those services.

Recording Secretary

The District has contracted with Rizzetta & Company to maintain the minutes of all Board meetings, prepare various resolutions and all other secretarial duties requested by the District throughout the year.  The amount represents payment for those services.

District Engineer

The District’s engineer provides general engineering services to the District.  Among these services are attendance at and preparation for monthly board meetings and all other engineering services requested by the District throughout the year.

Disclosure Report

The District is required to file quarterly and annual disclosure reports, as required in the District’s Trust Indenture, with the specified repositories.  The district has contracted with Prager,  Sealy & Company LLC to provide this service.

Trustee’s Fees

The District will incur annual trustee’s fees with Wachovia Bank upon the issuance of revenue bonds.  The amount represents payment for those services.

Assessment Roll

The District has contracted with Rizzetta & Company to maintain the assessment roll and annually levy a Non-Ad Valorem assessment for operating and debt service expenses.  The amount is an estimated projection of the annual cost for the assessment roll.

Accounting Services

The District has contracted with Rizzetta & Company to maintain the accounting records.  These services include, but are not limited to accounts payable, accounts receivable and preparation of financial reports for the District.  The amount represents payment for those services.

Auditing Services

The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting firm. 

Travel Per Diem

Each Supervisor is entitled to reimbursement for these expenses per Florida Statutes 190.006(8).  This also represents amounts for staff members’ reimbursement.  

Copies, Postage, Telephone, & Faxes

The District will incur expenditures for the day to day operation of District matters.  These items include but are not limited to mailing and preparation of agenda packages, overnight deliveries, facsimiles and long distance phone calls. 

Rentals & Leases

The District will incur expenditures for office space and storage for the District’s files, supplies, and official records.  This amount will not exceed $2,400.00 or $200.00 per month.  

General Liability Insurance

The District will incur expenditures for general liability and public officials’ liability insurance. 

Legal Advertising

The District will incur expenditures related to legal advertising.  The items for which the District will advertise include, but are limited to projected monthly meetings, special meetings, and public hearings for the District

Bank Fees

The District will incur bank service charges during the year.   

Dues, Licenses & Fees

The District is required to pay an annual fee to the Department of Community Affairs for $175. 

Miscellaneous Fees

The District could incur miscellaneous fees throughout the year.  

Investment Reporting Fees

The District has contracted with Rizzetta & Company to provide, on a quarterly basis, reporting on the various investments held by the District.

Office Supplies

The District will incur expenditures for office supplies throughout the year. 

Computer Software Upgrades

This represents District accounting software upgrades needed to comply with reporting requirements mandated by the Governmental Accounting Standards Board.

Capital Outlay

This represents the purchase of personal computer workstation for District staff use;  development and implementation of a web site;  and, any minor capital expenditures, such as office equipment, etc.

District Counsel

The District’s legal counsel provides general legal services to the District.  Among these services are attendance at and preparation for monthly board meetings, review of operating and maintenance contracts and all other legal services requested by the District throughout the year. 

Debt Service Payments

The District will pay, from the collection of debt service assessments, to retire the debt.  This amount is based on the debt service repayment schedule.  

Field Operations:  

Security

The District may incur expenses relative to security within the District.

Utility Services

The District will incur electric utility expenditures for LSC Boulevard lighting, club facilities and irrigation.

Garbage / Solid Waste Control

The District will incur expenditures related to the removal of garbage and solid waste.

Water / Sewer Combination Services

The District will incur water/sewer utility expenditures related to District operations.  

Other Physical Environment

Property and Casualty Insurance

The District will incur fees to insure items owned by the District. 

Pond Maintenance

The District will incur expenditures to maintain water quality and limit nuisance growth in the ponds in the District.

Landscape Maintenance

The District will incur expenditures to maintain the rights-of-way, median strips, recreational facilities including pond banks, entryways, and similar planting areas within the District.  These services include but are not limited to monthly landscape maintenance, fertilizer, pesticides, annuals, mulch and irrigation maintenance and repairs.

Miscellaneous Maintenance

The District could incur expenditures related to the maintenance of items not listed in the areas above.  

Parks and Recreation

District Staff

The District will incur expenses for payroll related to the parks and recreation staff hired for organizing community events and activities, scheduling the use of the facilities, performing minimum maintenance of grounds and facilities, and seasonally expanding the staff for monitoring of facilities.

Club Facility Maintenance

The District will incur expenses to maintain the swimming pool and other recreational facilities.

Events/Activities/Newsletter

The District will incur expenses sponsoring events and activities throughout the year, and preparing and distributing the Lake St. Charles newsletter.