Old Hickory Community Development District

Amended Budget
FY 2021

Table of Contents

1	 	General Fund

2-5	 	General Fund Narrative

Old Hickory
Community Development District

	Adopted
Budget	
Increase/	Amended
Budget	Actuals
Thru	
	FY2021	(Decrease)	FY2021	8/31/21	

Revenues					
Developer Contributions	$104,218	$97,360	$201,578	$171,954	
Total Revenues	$104,218	$97,360	$201,578	$171,954	

Expenditures					
Administrative					
Supervisor Fees	$12,000	($10,000)	$2,000	$800	
FICA Expense	$918	($765)	$153	$61	
Engineering	$12,000	($7,000)	$5,000	$2,536	
Attorney	$25,000	($15,000)	$10,000	$6,963	
Dissemination	$0	$3,208	$3,208	$2,917	
Annual Audit	$3,500	($700)	$2,800	$2,800	
Management Fees	$35,000	$0	$35,000	$32,083	
Information Technology	$1,200	$0	$1,200	$1,100	
Telephone	$300	($250)	$50	$0	
Postage	$1,000	($500)	$500	$247	
Insurance	$5,500	($500)	$5,000	$5,000	
Printing & Binding	$1,000	($500)	$500	$273	
Legal Advertising	$5,000	$0	$5,000	$2,260	
Other Current Charges	$1,000	($900)	$100	$24	
Office Supplies	$625	($425)	$200	$68	
Dues, Licenses & Subscriptions	$175	$0	$175	$175	
Field
Field Services	

$0	

$15,000	
$15,000	

$13,750	
Property Insurance	$0	$600	$600	$557	
Electric	$0	$500	$500	$387	
Water & Sewer	$0	$15,000	$15,000	$12,524	
Landscape Maintenance	$0	$83,052	$83,052	$76,131	
Lake Maintenance	$0	$15,540	$15,540	$14,245	
Irrigation Repairs	$0	$1,000	$1,000	$218	
Total Expenditures	$104,218	$97,360	$201,578	$175,118	
					
Excess Revenues/(Expenditures)	$0	$0	$0	($3,165)	

*Prorated amount represents 4 months of FY2020.					

REVENUES:

Developer Contributions

The District will enter into a funding agreement with the developer to fund the general fund expenditures for 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.

Attorney

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.

Dissemination

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.

Annual Audit

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

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services.

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.

Telephone

Telephone and fax machine.

Postage

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

Insurance

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

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.

Field:

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.

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	

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	

Irrigation Repairs

Represents estimated costs for any repairs to the irrigation system.