Old Hickory Community Development District

Proposed Budget
FY 2022

Table of Contents

1

2-5

6

7

 	General Fund

 	General Fund Narrative

 	Debt Service Fund Series 2020

 	Amortization Schedule Series 2020

Old Hickory
Community Development District

Fiscal Year 2022 General Fund

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

Revenues						
Assessments	$0	$0	$0	$0	$387,798	
Developer Contribution	$104,218	$97,259	$99,431	$196,690	$0	
Total Revenues	$104,218	$97,259	$99,431	$196,690	$387,798	

Expenditures						
Administrative						
Supervisor Fees	$12,000	$400	$1,000	$1,400	$12,000	
FICA Expense	$918	$31	$77	$107	$918	
Engineering	$12,000	$380	$2,620	$3,000	$12,000	
Attorney	$25,000	$4,229	$5,771	$10,000	$25,000	
Dissemination	$0	$1,458	$1,750	$3,208	$3,500	
Annual Audit	$3,500	$2,800	$0	$2,800	$4,400	
Management Fees	$35,000	$17,500	$17,500	$35,000	$35,000	
Information Technology	$1,200	$600	$600	$1,200	$1,050	
Website Maintenance	$0	$0	$0	$0	$600	
Telephone	$300	$0	$50	$50	$300	
Postage	$1,000	$105	$105	$210	$1,000	
Insurance	$5,500	$5,000	$0	$5,000	$5,500	
Printing & Binding	$1,000	$114	$136	$250	$1,000	
Legal Advertising	$5,000	$0	$5,000	$5,000	$2,500	
Other Current Charges	$1,000	$0	$100	$100	$1,000	
Office Supplies	$625	$2	$98	$100	$625	
Dues, Licenses & Subscriptions	$175	$175	$0	$175	$175	
Total Administrative	$104,218	$32,793	$34,807	$67,600	$106,568	

Operations & Maintenance						
Field Services	$0	$7,500	$7,500	$15,000	$15,000	
Property Insurance	$0	$0	$0	$0	$5,000	
Electric	$0	$0	$0	$0	$1,500	
Streetlights	$0	$0	$0	$0	$90,000	
Water & Sewer	$0	$9,196	$5,804	$15,000	$20,000	
Landscape Maintenance	$0	$41,526	$41,526	$83,052	$119,724	
Landscape Contingency	$0	$0	$0	$0	$1,500	
Irrigation Repairs	$0	$46	$454	$500	$2,500	
Lake Maintenance	$0	$7,770	$7,770	$15,540	$16,006	
Repairs & Maintenance	$0	$0	$0	$0	$2,500	
Walls, Entry & Monuments	$0	$0	$0	$0	$2,500	
Contingency	$0	$0	$0	$0	$5,000	
Total Operations & Maintenance	$0	$66,038	$63,054	$129,092	$281,230	
						
Total Expenditures	$104,218	$98,831	$97,861	$196,691	$387,798	
						
Excess Revenues/(Expenditures)	$0	($1,572)	$1,570	($2)	$0	

Net Assessments	
$387,798	
Collection Cost (6%)	 	$24,753 	
Gross Assessments	$412,551	
Property Type	Units	Gross Per Unit	Total Gross	
50' Lots	273	$914.75	$249,726.03	
60' Lots	178	$914.75	$162,825.03	

Total	451	$412,551.06

Old Hickory
Community Development District
GENERAL FUND BUDGET

REVENUES:

Assessments

The District will levy a non-ad valorem special assessment on all the assessment property within the District in order to pay for the operating 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.

FICA Expense

Represents the Employer’s share of Social Security and Medicare taxes withheld from Board of Supervisor checks.

Engineering

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. District has contracted with Hamilton Engineering & Surveying, Inc. for this service.

Attorney

The District’s legal counsel, Latham, Lune, Eden & Beaudine, LLP, will be providing general legal services to the District, e.g. attendance and preparation for monthly meetings, preparation and review of agreements, resolutions, etc.

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 has contracted with Grau & Associates for this service.

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, budget preparation, all financial reporting, annual audit, etc.

Old Hickory
Community Development District
GENERAL FUND BUDGET

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 Maintenance

Represents the costs associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statues. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc.

Telephone

Telephone and fax machine.

Postage

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

Insurance

The District’s general liability and public officials liability insurance coverage is provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Printing & Binding

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

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 incurred during the year.

Office Supplies

Miscellaneous office supplies.

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.

Old Hickory
Community Development District
GENERAL FUND BUDGET

Operations & Maintenance:

Field Services

Provide onsite field management of contracts for the District such as landscape and lake maintenance. Services to include onsite inspections, meetings with contractors, attend Board meetings and receive and respond to property owner phone calls and emails.

Property Insurance

Represents estimated costs for the annual coverage of property insurance. Coverage will be provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Electric

Represents estimated cost of electric services for irrigation meter. District will have one account with Orlando Utilities Commissions.

Streetlights

Represents estimated cost for streetlight services that will be maintained by the District. The District will have two accounts with Orlando Utilities Commissions. One account will contain 140 streetlights for Phases 1& 2 and second account will contain 80 streetlights for Phases 3 & 4 for a total of 220 streetlights.

Water & Sewer

Represents costs for water services for areas within the District. The District currently has two accounts with St. Cloud Utilities (City of St. Cloud).

Landscape Maintenance

The District will maintain the landscaping within the common areas of the District after installation of landscape material has been completed. The District has contracted with Floralawn 2, LLC for this service.

Description	Monthly	Annual	
Landscape Maintenance Phases 1 & 2	$6,921	$83,052	
Landscape Maintenance Phases 3 (Future Phase)	$1,542	$18,504	
Landscape Maintenance Phases 4 (Future Phase)	$1,514	$18,168	
Total		$119,724	

Landscape Contingency

Represents estimated costs for any additional landscape expenses not covered under the monthly landscape maintenance contract.

Irrigation Repairs

Represents estimated costs for any repairs to the irrigation system.

Old Hickory
Community Development District
GENERAL FUND BUDGET

Lake Maintenance

Represents cost for maintenance to 8 ponds located within the District. Services include shoreline grass and brush control, floating and submersed vegetation control, additional treatments as required, and a monthly report of all waterways treated. The District has contracted with Applied Aquatic Management, Inc. for these services.

Description	Monthly	Annual	
Lake Maintenance - 8 Ponds			
Tract A	$180	$2,160	
Tract I	$270	$3,240	
Tract H	$90	$1,080	
Tract K	$120	$1,440	
Tract P	$135	$1,620	
Tract DD	$135	$1,620	
Tract EE	$270	$3,240	
Tract Q	$95	$1,140	
Contingency		$466	
Total		$16,006	

Repairs & Maintenance

Represents general repairs and maintenance costs that are not budgeted under any other budget line item for area such as playground and dog park.

Walls, Entry & Monuments

Represents estimated costs for repairs and maintenance to the walls, entry and monuments maintained by the District.

Contingency

Represents any additional field expense that may not have been provided for in the budget.

Old Hickory
Community Development District

Fiscal Year 2022 Debt Service Fund Series 2020

	Proposed
Budget	Actual
Thru	Projected
Next 6	Total
Thru	Proposed
Budget	
	FY2021	3/31/21	Months	9/30/21	FY2022	

Revenues						
Assessments	$356,100	$267,075	$89,025	$356,100	$356,100	
Bond Proceeds	$212,978	$212,978	$0	$212,978	$0	
Interest	$0	$6	$6	$12	$0	
Carry Forward Surplus	$0	$0	$0	$0	$119,684	
Total Revenues	$569,078	$480,059	$89,031	$569,090	$475,784	

Expenditures						
Interest - 12/15	$34,928	$34,928	$0	$34,928	$114,925	
Principal - 6/15	$120,000	$0	$120,000	$120,000	$125,000	
Interest - 6/15	$116,425	$0	$116,425	$116,425	$114,925	
Transfer Out	$0	$4	$0	$4	$0	
Total Expenditures	$271,353	$34,931	$236,425	$271,356	$354,850	
						
Excess Revenues/(Expenditures)	$297,725	$445,128	($147,394)	$297,734	$120,934	

Interest -12/15/22     $	113,363 
  $	113,363 

Net Assessments	
$356,101	
Collection Cost (6%)	 	$22,730 	
Gross Assessments	 	$378,831 	

Property Type	Units	Gross Per Unit	Total Gross	
50' Lots	273	$839.98	$229,314.54	
60' Lots	178	$839.98	$149,516.44	

Total	451	$378,830.98

Old Hickory
Series 2020, Special Assessment Bonds (2020 Project) (Term Bonds Combined)

Amortization Schedule

Date	Balance	Principal	Interest	Annual

12/15/21	$ 6,125,000	$	
6/15/22	$ 6,125,000	$	
12/15/22	$ 6,000,000	$	
6/15/23	$ 6,000,000	$	
12/15/23	$ 5,870,000	$	
6/15/24	$ 5,870,000	$	
12/15/24	$ 5,740,000	$	
6/15/25	$ 5,740,000	$	
12/15/25	$ 5,605,000	$	
6/15/26	$ 5,605,000	$	
12/15/26	$ 5,465,000	$	
6/15/27	$ 5,465,000	$	
12/15/27	$ 5,320,000	$	
6/15/28	$ 5,320,000	$	
12/15/28	$ 5,175,000	$	
6/15/29	$ 5,175,000	$	
12/15/29	$ 5,025,000	$	
6/15/30	$ 5,025,000	$	
12/15/30	$ 4,870,000	$	
6/15/31	$ 4,870,000	$	
12/15/31	$ 4,710,000	$	
6/15/32	$ 4,710,000	$	
12/15/32	$ 4,540,000	$	
6/15/33	$ 4,540,000	$	
12/15/33	$ 4,365,000	$	
6/15/34	$ 4,365,000	$	
12/15/34	$ 4,180,000	$	
6/15/35	$ 4,180,000	$	
12/15/35	$ 3,990,000	$	
6/15/36	$ 3,990,000	$	
12/15/36	$ 3,790,000	$	
6/15/37	$ 3,790,000	$	
12/15/37	$ 3,585,000	$	
6/15/38	$ 3,585,000	$	
12/15/38	$ 3,370,000	$	
6/15/39	$ 3,370,000	$	
12/15/39	$ 3,145,000	$	
6/15/40	$ 3,145,000	$	
12/15/40	$ 2,910,000	$	
6/15/41	$ 2,910,000	$	
12/15/41	$ 2,670,000	$	
6/15/42	$ 2,670,000	$	
12/15/42	$ 2,420,000	$	
6/15/43	$ 2,420,000	$	
12/15/43	$ 2,160,000	$	
6/15/44	$ 2,160,000	$	
12/15/44	$ 1,885,000	$	
6/15/45	$ 1,885,000	$	
12/15/45	$ 1,600,000	$	
6/15/46	$ 1,600,000	$	
12/15/46	$ 1,305,000	$	
6/15/47	$ 1,305,000	$	
12/15/47	$ 1,000,000	$	
6/15/48	$ 1,000,000	$	
12/15/48	$	680,000	$	
6/15/49	$	680,000	$	
12/15/49	$	345,000	$	
6/15/50

Totals	$	345,000	$

$	

-	$
125,000   $
-	$
130,000   $
-	$
130,000   $
-	$
135,000   $
-	$
140,000   $
-	$
145,000   $
-	$
145,000   $
-	$
150,000   $
-	$
155,000   $
-	$
160,000   $
-	$
170,000   $
-	$
175,000   $
-	$
185,000   $
-	$
190,000   $
-	$
200,000   $
-	$
205,000   $
-	$
215,000   $
-	$
225,000   $
-	$
235,000   $
-	$
240,000   $
-	$
250,000   $
-	$
260,000   $
-	$
275,000   $
-	$
285,000   $
-	$
295,000   $
-	$
305,000   $
-	$
320,000   $
-	$
335,000   $
-	$
345,000   $

114,925.00   $
114,925.00   $
113,362.50   $
113,362.50   $
111,737.50   $
111,737.50   $
110,112.50   $
110,112.50   $
108,425.00   $
108,425.00   $
106,325.00   $
106,325.00   $
104,150.00   $
104,150.00   $
101,975.00   $
101,975.00   $
99,725.00   $
99,725.00   $
97,400.00   $
97,400.00   $
94,200.00   $
94,200.00   $
90,800.00   $
90,800.00   $
87,300.00   $
87,300.00   $
83,600.00   $
83,600.00   $
79,800.00   $
79,800.00   $
75,800.00   $
75,800.00   $
71,700.00   $
71,700.00   $
67,400.00   $
67,400.00   $
62,900.00   $
62,900.00   $
58,200.00   $
58,200.00   $
53,400.00   $
53,400.00   $
48,400.00   $
48,400.00   $
43,200.00   $
43,200.00   $
37,700.00   $
37,700.00   $
32,000.00   $
32,000.00   $
26,100.00   $
26,100.00   $
20,000.00   $
20,000.00   $
13,600.00   $
13,600.00   $
6,900.00   $
6,900.00   $

114,925.00
- 353,287.50
- 355,100.00
- 351,850.00
- 353,537.50
- 354,750.00
- 355,475.00
- 351,125.00
- 351,700.00
- 352,125.00
- 351,600.00
- 355,000.00
- 353,100.00
- 355,900.00
- 353,400.00
- 355,600.00
- 352,500.00
- 354,100.00
- 355,300.00
- 356,100.00
- 351,600.00
- 351,800.00
- 351,600.00
- 355,900.00
- 354,700.00
- 353,100.00
- 351,100.00
- 353,600.00
- 355,500.00
351,900.00

6,245,000   $	4,393,628 $ 10,638,627.50