P1TB1bA#y1 Turnbull Creek Community Development District www.turnbullcreekcdd.com Adopted Budget for Fiscal Year 2023-2024 TABLE OF CONTENTS Page 1 4 5 14 8 (Cross-Out comment tnielsen 4/27/2022 4:51:35 PM blank) General Fund Budget for Fiscal Year 2023-2024 Reserve Fund Budget for Fiscal Year 2023-2024 Debt Service Fund Budget for Fiscal Year 2023-2024 Assessments Charts for Fiscal Year 2023-2024 General Fund Budget Account Category Descriptions Reserve Fund Budget Account Category Descriptions Debt Service Fund Budget Account Category Descriptions Chart of Accounts Classification Budget for 2023/2024 REVENUES Special Assessments Tax Roll $ 1,180,916 TOTAL REVENUES $ 1,180,916 EXPENDITURES - ADMINISTRATIVE Legislative Supervisor Fees $ 7,000 Employee - Payroll Taxes $ 615 Employee - Payroll Processing Fees $ 1,100 Employee - Workers Comp Insurance $ 850 Financial & Administrative District Management $ 45,150 District Engineer $ 16,000 Trustees Fees $ 14,620 Assessment Roll $ 5,040 Dissemination Agent $ 1,000 Auditing Services $ 3,965 Arbitrage Rebate Calculation $ 3,000 Public Officials Liability Insurance $ 4,498 Legal Advertising $ 2,000 Dues Licenses & Fees $ 175 Miscellaneous Fees $ 2,659 Website Hosting, Maintenance & Backup $ 1,200 ADA Website Compliance $ 1,200 Legal Counsel District Counsel $ 47,000 Administrative Subtotal $ 157,072 EXPENDITURES - FIELD OPERATIONS . Security Operations Chart of Accounts Classification Budget for 2023/2024 Security Monitoring Services $ 7,755 Security Camera Maintenance $ 2,500 Electric Utility Services Utility Services $ 55,046 Street Lights $ 45,492 Garbage/Solid Waste Control Services Garbage - Recreation Facility $ 8,000 Water-Sewer Combination Services Utility Services $ 13,080 Stormwater Control Lake/Pond Bank Maintenance $ 18,975 Well & Pump Maintenance Contract $ 2,750 Miscellaneous Expense $ 2,500 Other Physical Environment General Liability Insurance / Property $ 31,054 Landscape Maintenance $ 348,884 Irrigation Maintenance & Repair $ 12,500 Landscape Miscellaneous $ 31,000 Parks & Recreation Licenses, Fees & Permits $ 2,100 Facility Management $ 71,166 Telephone, Internet, Cable $ 5,000 Pest Control $ 2,875 Pressure Washing $ 3,500 Maintenance & Repairs $ 53,000 Field Services $ 59,801 Cubhouse Janitorial Services $ 9,885 Facility Maintenance $ 57,166 Pool Chemicals & Permits $ 21,000 Pool Maintenance $ 15,801 Program Director $ 3,004 Miscellaneous Expense $ 540 ID & Access Cards $ 800 Office Supplies $ 1,800 Lifeguards / Pool Monitors $ 38,975 Facility Monitors $ 29,838 Facility Attendants $ 19,973 Chart of Accounts Classification Budget for 2023/2024 Garbage Collection - Common Areas 21,349 $ Special Events Holiday Decorations $ 4,735 Special Events $ 12,000 Contingency Miscellaneous Contingency $ 10,000 Field Operations Subtotal $ 1,023,844 TOTAL EXPENDITURES $ 1,180,916 EXCESS OF REVENUES OVER EXPENDITURES $ - Chart of Accounts Classification Budget for 2023/2024 REVENUES Special Assessments Tax Roll* $ 100,000 TOTAL REVENUES $ 100,000 EXPENDITURES Contingency . Capital Reserves $ 100,000 TOTAL EXPENDITURES $ 100,000 EXCESS OF REVENUES OVER EXPENDITURES $ - Turnbull Creek Community Development District Debt Service Fiscal Year 2023/2024 Chart of Accounts Classification Series 2015A1-2 Series 2015B1-2 Series 2016 Budget for 2023/2024 REVENUES Special Assessments Net Special Assessments (1) $983,145.32 $78,821.03 $286,504.77 $1,348,471.13 TOTAL REVENUES $983,145.32 $78,821.03 $286,504.77 $1,348,471.13 EXPENDITURES Administrative Financial & Administrative Debt Service Obligation Administrative Subtotal $983,145.32 $78,821.03 $286,504.77 $1,348,471.13 $983,145.32 $78,821.03 $286,504.77 $1,348,471.13 TOTAL EXPENDITURES $983,145.32 $78,821.03 $286,504.77 $1,348,471.13 EXCESS OF REVENUES OVER EXPENDITURES $0.00 $0.00 $0.00 $0.00 St. Johns County Collection Costs (2%) and Early Payment Discounts (4%) 6.0% Gross assessments $1,434,543.75 (1) Maximum Annual Debt Service less any Prepaid Assessments received. Notes: Tax Roll Collection Costs and Early Payment Discounts are 6% of the Tax Roll. See Assessment Table. TURNBULL CREEK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024 O&M AND DEBT SERVICE ASSESSMENT SCHEDULE 2023/2024 O&M Budget $1,280,916.00 St. Johns County Collection Cost @ 2% $27,253.53 Early Payment Discount @ 4% $54,507.06 2023/2024 Total 6% $1,362,676.60 2022/2023 O&M Budget 2023/2024 O&M Budget $1,207,047.00 $1,280,916.00 Total Difference $73,869.00 PER UNIT ANNUAL ASSESSMENT Proposed Increase / Decrease 2022/2023 2023/2024 $ % $1,451.69 $1,451.69 $0.00 0.00% $88.08 $88.08 $0.00 0.00% $1,338.96 $1,420.93 $81.97 6.12% $2,878.73 $2,960.70 $81.97 2.85% PHASE 1 Series 2015A1-2 Debt Service - Single Family Series 2015B1-2 Debt Service - Single Family Operations/Maintenance - Single Family Total Series 2015A1-2 Debt Service - Single Family (Partial) $682.48 $682.48 $0.00 0.00% Series 2015B1-2 Debt Service - Single Family $88.08 $88.08 $0.00 0.00% Operations/Maintenance - Single Family $1,338.96 $1,420.93 $81.97 6.12% Total $2,109.52 $2,191.49 $81.97 3.89% PHASE 2 Series 2016 Debt Service - Single Family $1,427.85 $1,427.85 $0.00 0.00% Series 2015B1-2 Debt Service - Single Family $88.08 $88.08 $0.00 0.00% Operations/Maintenance - Single Family $1,338.96 $1,420.93 $81.97 6.12% Total $2,854.89 $2,936.86 $81.97 2.87% Series 2016 Debt Service - Single Family (Partial) $696.04 $696.04 $0.00 0.00% Series 2015B1-2 Debt Service - Single Family $88.08 $88.08 $0.00 0.00% Operations/Maintenance - Single Family $1,338.96 $1,420.93 $81.97 6.12% Total $2,123.08 $2,205.05 $81.97 3.86% Series 2016 Debt Service - Single Family (Partial) $713.88 $713.88 $0.00 0.00% Series 2015B1-2 Debt Service - Single Family $88.08 $88.08 $0.00 0.00% Operations/Maintenance - Single Family $1,338.96 $1,420.93 $81.97 6.12% Total $2,140.92 $2,222.89 $81.97 3.83% Series 2016 Debt Service - Single Family (Partial) $678.19 $678.19 $0.00 0.00% Series 2015B1-2 Debt Service - Single Family $88.08 $88.08 $0.00 0.00% Operations/Maintenance - Single Family $1,338.96 $1,420.93 $81.97 6.12% Total $2,105.23 $2,187.20 $81.97 3.89% *Certain lots have been partially paid down, resulting in a reduction of their debt service assessment. TURNBULL CREEK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024 O&M AND DEBT SERVICE ASSESSMENT SCHEDULE TOTAL O&M BUDGET $1,280,916.00 COLLECTION COSTS @ 2.0% $27,253.53 EARLY PAYMENT DISCOUNT @ 4.0% $54,507.06 TOTAL O&M ASSESSMENT 6.0% $1,362,676.60 PER LOT ANNUAL ASSESSMENT SERIES 2015A1-2 SERIES 2015B1-2 SERIES 2016 DEBT DEBT DEBT O&M SERVICE (2) SERVICE (3) SERVICE (4) TOTAL (5) UNITS ASSESSED SERIES 2015A1-2 SERIES 2015B1-2 SERIES 2016 O&M DEBT SERVICE (1) DEBT SERVICE (1) DEBT SERVICE (1) ALLOCATION OF O&M ASSESSMENT TOTAL % TOTAL TOTAL EAU FACTOR EAU's EAU's O&M BUDGET LU LOT SIZE 0 PHASE 1 SF-1 SINGLE FAMILY 739 720 734 SFP-1 SINGLE FAMILY (PARTIAL) 1 1 1 PHASE 2 SF-2 SINGLE FAMILY 216 214 212 SFP-2.1 SINGLE FAMILY (PARTIAL) 1 1 1 SFP-2.2 SINGLE FAMILY (PARTIAL) 1 1 1 SFP-2.3 SINGLE FAMILY (PARTIAL) 1 1 1 0 0 0 $1,420.93 $1,451.69 $88.08 $0.00 $2,960.70 $1,420.93 $682.48 $88.08 $0.00 $2,191.49 $1,420.93 $0.00 $88.08 $1,427.85 $2,936.86 $1,420.93 $0.00 $88.08 $696.04 $2,205.05 $1,420.93 $0.00 $88.08 $713.88 $2,222.89 $1,420.93 $0.00 $88.08 $678.19 $2,187.20 1.00 739.00 77.06% $1,050,070.91 1.00 1.00 0.10% $1,420.93 1.00 216.00 22.52% $306,921.94 1.00 1.00 0.10% $1,420.93 1.00 1.00 0.10% $1,420.93 1.00 1.00 0.10% $1,420.93 TOTAL 959 721 952 215 959.00 100.00% $1,362,676.60 LESS: St. Johns County Collection Costs (2%) and Early Payment Discount (4%): ($81,760.60) Net Revenue to be Collected: $1,280,916.00 (1) Reflects the number of total lots with Series 2015A1-2, Series 2015B1-2, and Series 2016 debt outstanding. (2) Annual debt service assessment per lot adopted in connection with the Series 2015A1-2 bond issuance. Annual assessment includes principal, interest, St. Johns County collection costs and early payment discount costs. (3) Annual debt service assessment per lot adopted in connection with the Series 2015B1-2 bond issuance. Annual assessment includes principal, interest, St. Johns County collection costs and early payment discount costs. (4) Annual debt service assessment per lot adopted in connection with the Series 2016 bond issuance. Annual assessment includes principal, interest, St. Johns County collection costs and early payment discount costs. (5) Annual assessment that will appear on November 2023 St. Johns property tax bill. Amount shown includes all applicable county collection costs and early payment discounts (up to 4% if paid early). GENERAL FUND BUDGET ACCOUNT CATEGORY DESCRIPTION The General Fund Budget Account Category Descriptions are subject to change at any time depending on its application to the District. Please note, not all General Fund Budget Account Category Descriptions are applicable to the District indicated above. Uses of the descriptions contained herein are intended for general reference. REVENUES: Interest Earnings: The District may earn interest on its monies in the various operating accounts. Tax Roll: The District levies Non-Ad Valorem Special Assessments on all of the assessable property within the District to pay for operating expenditures incurred during the Fiscal Year. The assessments may be collected in two ways. The first is by placing them on the County’s Tax Roll, to be collected with the County’s Annual Property Tax Billing. This method is only available to land properly platted within the time limits prescribed by the County. Off Roll: For lands not on the tax roll and that is by way of a direct bill from the District to the appropriate property owner. Developer Contributions: The District may enter into a funding agreement and receive certain prescribed dollars from the Developer to off-set expenditures of the District. Event Rental: The District may receive monies for event rentals for such things as weddings, birthday parties, etc. Miscellaneous Revenues: The District may receive monies for the sale or provision of electronic access cards, entry decals etc. Facilities Rentals: The District may receive monies for the rental of certain facilities by outside sources, for such items as office space, snack bar/restaurants etc. --- EXPENDITURES – ADMINISTRATIVE: Supervisor Fees: The District may compensate its supervisors within the appropriate statutory limits of $200.00 maximum per meeting within an annual cap of $4,800.00 per supervisor. Administrative Services: The District will incur expenditures for the day to today operation of District matters. These services include support for the District Management function, recording and preparation of meeting minutes, records retention and maintenance in accordance with Chapter 119, Florida Statutes, and the District’s adopted Rules of Procedure, preparation and delivery of agenda, overnight deliveries, facsimiles and phone calls. District Management: The District as required by statute, will contract with a firm to provide for management and administration of the District’s day to day needs. These service include the conducting of board meetings, workshops, overall administration of District functions, all required state and local filings, preparation of annual budget, purchasing, risk management, preparing various resolutions and all other secretarial duties requested by the District throughout the year is also reflected in this amount. 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, review of construction invoices 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. This is contracted out to a third party in compliance with the Trust Indenture. Trustee’s Fees: The District will incur annual trustee’s fees upon the issuance of bonds for the oversight of the various accounts relating to the bond issues. Assessment Roll: The District will contract with a firm to prepare, maintain and certify the assessment roll(s) and annually levy a non-ad valorem assessment for operating and debt service expenses. Financial & Revenue Collections: Services of the Collection Agent include all functions necessary for the timely billing and collection and reporting of District assessments in order to ensure adequate funds to meet the District’s debt service and operations and maintenance obligations. The Collection Agent also maintains and updates the District’s lien book(s) annually and provides for the release of liens on property after the full collection of bond debt levied on particular properties. Accounting Services: Services include the preparation and delivery of the District’s financial statements in accordance with Governmental Accounting Standards, accounts payable and accounts receivable functions, asset tracking, investment tracking, capital program administration and requisition processing, filing of annual reports required by the State of Florida and monitoring of trust account activity. Auditing Services: The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting firm, once it reaches certain revenue and expenditure levels, or has issued bonds and incurred debt. Arbitrage Rebate Calculation: The District is required to calculate the interest earned from bond proceeds each year pursuant to the Internal Revenue Code of 1986. The Rebate Analyst is required to verify that the District has not received earnings higher than the yield of the bonds. Travel: Each Board Supervisor and the District Staff are entitled to reimbursement for travel expenses per Florida Statutes 190.006(8). Public Officials Liability Insurance: The District will incur expenditures for public officials’ liability insurance for the Board and Staff. Legal Advertising: The District will incur expenditures related to legal advertising. The items for which the District will advertise include, but are not limited to meeting schedules, special meeting notices, and public hearings, bidding etc. for the District based on statutory guidelines 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 Economic Opportunity, along with other items which may require licenses or permits, etc. Miscellaneous Fees: The District could incur miscellaneous throughout the year, which may not fit into any standard categories. Website Hosting, Maintenance and Email: The District may incur fees as they relate to the development and ongoing maintenance of its own website along with possible email services if requested. 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. --- EXPENDITURES - FIELD OPERATIONS: Deputy Services: The District may wish to contract with the local police agency to provide security for the District. Security Services and Patrols: The District may wish to contract with a private company to provide security for the District. Electric Utility Services: The District will incur electric utility expenditures for general purposes such as irrigation timers, lift station pumps, fountains, etc. Street Lights: The District may have expenditures relating to street lights throughout the community. These may be restricted to main arterial roads or in some cases to all street lights within the District’s boundaries. Utility - Recreation Facility: The District may budget separately for its recreation and or amenity electric separately. Gas Utility Services: The District may incur gas utility expenditures related to district operations at its facilities such as pool heat etc. Garbage - Recreation Facility: The District will incur expenditures related to the removal of garbage and solid waste. Solid Waste Assessment Fee: The District may have an assessment levied by another local government for solid waste, etc. Water-Sewer Utility Services: The District will incur water/sewer utility expenditures related to district operations. Utility - Reclaimed: The District may incur expenses related to the use of reclaimed water for irrigation. Aquatic Maintenance: Expenses related to the care and maintenance of the lakes and ponds for the control of nuisance plant and algae species. Fountain Service Repairs & Maintenance: The District may incur expenses related to maintaining the fountains within throughout the Parks & Recreational areas Lake/Pond Bank Maintenance: The District may incur expenditures to maintain lake banks, etc. for the ponds and lakes within the District’s boundaries, along with planting of beneficial aquatic plants, stocking of fish, mowing and landscaping of the banks as the District determines necessary. Wetland Monitoring & Maintenance: The District may be required to provide for certain types of monitoring and maintenance activities for various wetlands and waterways by other governmental entities. Mitigation Area Monitoring & Maintenance: The District may be required to provide for certain types of monitoring and maintenance activities for various mitigation areas by other governmental entities. Aquatic Plant Replacement: The expenses related to replacing beneficial aquatic plants, which may or may not have been required by other governmental entities. General Liability Insurance: The District will incur fees to insure items owned by the District for its general liability needs Property Insurance: The District will incur fees to insure items owned by the District for its property needs Entry and Walls Maintenance: The District will incur expenditures to maintain the entry monuments and the fencing. 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 repairs. Irrigation Maintenance: The District will incur expenditures related to the maintenance of the irrigation systems. Irrigation Repairs: The District will incur expenditures related to repairs of the irrigation systems. Landscape Replacement: Expenditures related to replacement of turf, trees, shrubs etc. Field Services: The District may contract for field management services to provide landscape maintenance oversight. Miscellaneous Fees: The District may incur miscellaneous expenses that do not readily fit into defined categories in field operations. Gate Phone: The District will incur telephone expenses if the District has gates that are to be opened and closed. Street/Parking Lot Sweeping: The District may incur expenses related to street sweeping for roadways it owns or are owned by another governmental entity, for which it elects to maintain. Gate Facility Maintenance: Expenses related to the ongoing repairs and maintenance of gates owned by the District if any. Sidewalk Repair & Maintenance: Expenses related to sidewalks located in the right of way of streets the District may own if any. Roadway Repair & Maintenance: Expenses related to the repair and maintenance of roadways owned by the District if any. Employees - Salaries: The District may incur expenses for employees/staff members needed for the recreational facilities such as Clubhouse Staff. Employees - P/R Taxes: This is the employer’s portion of employment taxes such as FICA etc. Employee - Workers’ Comp: Fees related to obtaining workers compensation insurance. Management Contract: The District may contract with a firm to provide for the oversight of its recreation facilities. Maintenance & Repair: The District may incur expenses to maintain its recreation facilities. Facility Supplies: The District may have facilities that required various supplies to operate. Gate Maintenance & Repairs: Any ongoing gate repairs and maintenance would be included in this line item. Telephone, Fax, Internet: The District may incur telephone, fax and internet expenses related to the recreational facilities. Office Supplies: The District may have an office in its facilities which require various office related supplies. Clubhouse - Facility Janitorial Service: Expenses related to the cleaning of the facility and related supplies. Pool Service Contract: Expenses related to the maintenance of swimming pools and other water features. Pool Repairs: Expenses related to the repair of swimming pools and other water features. Security System Monitoring & Maintenance: The District may wish to install a security system for the clubhouse Clubhouse Miscellaneous Expense: Expenses which may not fit into a defined category in this section of the budget Athletic/Park Court/Field Repairs: Expense related to any facilities such as tennis, basketball etc. Trail/Bike Path Maintenance: Expenses related to various types of trail or pathway systems the District may own, from hard surface to natural surfaces. Special Events: Expenses related to functions such as holiday events for the public enjoyment Miscellaneous Fees: Monies collected and allocated for fees that the District could incur throughout the year, which may not fit into any standard categories. Miscellaneous Contingency: Monies collected and allocated for expenses that the District could incur throughout the year, which may not fit into any standard categories. Capital Outlay: Monies collected and allocated for various projects as they relate to public improvements. RESERVE FUND BUDGET ACCOUNT CATEGORY DESCRIPTION The Reserve Fund Budget Account Category Descriptions are subject to change at any time depending on its application to the District. Please note, not all Reserve Fund Budget Account Category Descriptions are applicable to the District indicated above. Uses of the descriptions contained herein are intended for general reference. REVENUES: Tax Roll: The District levies Non-Ad Valorem Special Assessments on all of the assessable property within the District to pay for operating expenditures incurred during the Fiscal Year. The assessments may be collected in two ways. The first is by placing them on the County’s Tax Roll, to be collected with the County’s Annual Property Tax Billing. This method is only available to land properly platted within the time limits prescribed by the County. Off Roll: For lands not on the tax roll and that is by way of a direct bill from the District to the appropriate property owner. Developer Contributions: The District may enter into a funding agreement and receive certain prescribed dollars from the Developer to off-set expenditures of the District. Miscellaneous Revenues: The District may receive monies for the sale or provision of electronic access cards, entry decals etc. --- EXPENDITURES: Capital Reserve: Monies collected and allocated for the future repair and replacement of various capital improvements such as club facilities, swimming pools, athletic courts, roads, etc. Capital Outlay: Monies collected and allocated for various projects as they relate to public improvements. DEBT SERVICE FUND BUDGET ACCOUNT CATEGORY DESCRIPTION The Debt Service Fund Budget Account Category Descriptions are subject to change at any time depending on its application to the District. Please note, not all Debt Service Fund Budget Account Category Descriptions are applicable to the District indicated above. Uses of the descriptions contained herein are intended for general reference. REVENUES: Special Assessments: The District may levy special assessments to repay the debt incurred by the sale of bonds to raise working capital for certain public improvements. The assessments may be collected in the same fashion as described in the Operations and Maintenance Assessments. --- EXPENDITURES – ADMINISTRATIVE: Bank Fees: The District may incur bank service charges during the year. Debt Service Obligation: This would a combination of the principal and interest payment to satisfy the annual repayment of the bond issue debt.