Cordoba Ranch Community Development District

June 27, 2017

Agenda Package

Cordoba Ranch Community Development District Severn Trent Services, Management Services Division 210 North University Drive, Suite 702 • Coral Springs, Florida 33071 Telephone: (954) 753-5841 • Fax: (954) 345-1292

June 20, 2017

Board of Supervisors
Cordoba Ranch Community Development District Dear Board Members:
The regular meeting of the Board of Supervisors of the Cordoba Ranch Community Development District will be held Tuesday, June 27, 2017 at 9:30 a.m. at the Cordoba Ranch Model Center, 2516 Cordoba Ranch Boulevard, Lutz, FL. Following is the advance agenda for the meeting:

Call to Order/Roll Call
Approval of the Consent Agenda
May 23, 2017 Minutes
Financial Statements
Modified Tentative Budget FY 2018
Audience Comments on Agenda Items
Hog Trapping Proposal
Aquagenix Report - June
Staff Reports
District Counsel
District Engineer
Littoral Shelf Planting Proposal
District Manager
Supervisor Requests
Adjournment

All supporting documentation is enclosed or will be distributed at the meeting.

The balance of the agenda is routine in nature and staff will give their reports at the meeting. In the meantime if you have any questions, please contact me.

Sincerely,
Andrew P. Mendenhall, PMP
Andrew P. Mendenhall, PMP District Manager

Second Order of Business

2A.

MINUTES OF MEETING CORDOBA RANCH
COMMUNITY DEVELOPMENT DISTRICT

The regular meeting of the Board of Supervisors of the Cordoba Ranch Community Development District was held on Tuesday, May 23, 2017 at 9:30 a.m. in the Cordoba Ranch Model Center, 2516 Cordoba Ranch Boulevard, Lutz, Florida.

Present and constituting a quorum were:

Barry Karpay	Chairman
Kelly Evans	Assistant Secretary
F. Peter Williams	Assistant Secretary Also present were:
Andy Mendenhall	District Manager
Tracy Robin	District Counsel
Tonja Stewart	District Engineer
Alan Baldwin	Severn Trent

The following is a summary of the discussions and actions taken.

FIRST ORDER OF BUSINESS	Call to Order/Roll Call
Mr. Mendenhall called the meeting to order and called the roll.

SECOND ORDER OF BUSINESS	Approval of the Consent Agenda
February 28, 2017 Minutes
Financial Statements – April 30, 2017
Engagement Letter Arbitrage Services
Report on the Number of Registered Voters (162)

On MOTION by Mr. Williams seconded by Mr. Karpay with all in favor the consent agenda was approved.

THIRD ORDER OF BUSINESS	Audience Comments on Agenda Items
None

unapproved

May 23, 2017	Cordoba Ranch CDD

FOURTH ORDER OF BUSINESS	Consideration	of	Resolution	2017-7
Approving the Fiscal Year 2018 Budget and Setting a Public Hearing
The fiscal year 2018 budget was reviewed.

On MOTION by Mr. Karpay seconded by Mr. Williams with all in favor Resolution 2017-7 approving the budget for fiscal year 2018 as presented and setting a public hearing on July 25, 2017 at 9:30
a.m. in the Cordoba Ranch Model Center was adopted.

FIFTH ORDER OF BUSINESS	Hog Trapping Proposal
Tabled

SIXTH ORDER OF BUSINESS	Aquagenix Report – February
May Aquagenix report was included in the agenda package.

SEVENTH ORDER OF BUSINESS	Littoral Shelf Planting Proposal
Discussion ensued with regard to littoral shelf planting.
Tabled

EIGHTH ORDER OF BUSINESS	Staff Reports
District Counsel
Discussion ensued with regard to a pond owned by the CDD which is adjacent to a parcel; and the status of a drainage easement allowing a portion of the pond to be part of the lot conveyed.
Ms. Stewart is following up on the finalization of documents and county approval of the site plan. The process was discussed.

The record will reflect Ms. Stewart left the meeting to contact authorities regarding finalization of documents.

District Engineer
District Manager
Fence was installed.

NINTH ORDER OF BUSINESS	Supervisors’ Requests
None

unapproved	2

May 23, 2017	Cordoba Ranch CDD

EIGHTH ORDER OF BUSINESS	Staff Reports (continued)
District Engineer
Ms. Stewart returned to the meeting and noted the District needs to bring the certified parcel approval down to the Building Department; explain what is being done; and submit a revised plot plan.
Ms. Stewart commented on the road inspection and a new product for pavement management.

TENTH ORDER OF BUSINESS	Adjournment

On MOTION by Mr. Karpay seconded by Mr. Williams with all in favor the meeting was adjourned.

Barry Karpay
Chairman

unapproved	3

2B.

Cordoba Ranch Community Development District
Financial Report May 31, 2017

Prepared by

Cordoba Ranch Community Development District

Financial Statements
(Unaudited)
May 31, 2017

CORDOBA RANCH

Community Development District

Table of Contents

FINANCIAL STATEMENTS	Page #
Balance Sheet - All Funds	………………………………………………….	1
Statement of Revenues, Expenditures and Changes in Fund Balance

General Fund	………………………………………………….	2 - 3	
Reserve Fund	………………………………………………….	4	
Debt Service Fund	………………………………………………….	5	
Capital Project Fund	………………………………………………….	6	

SUPPORTING SCHEDULES

Non-Ad Valorem Special Assessments - Schedule	………………………………………………….	7-8	
Cash and Investment Report	………………………………………………….	9	
Payment Register	………………………………………………….	10	

CORDOBA RANCH
Community Development District

Governmental Funds

Balance Sheet
May 31, 2017

ACCOUNT DESCRIPTION

GENERAL FUND

RESERVE FUND

SERIES 2006 DEBT SERVICE FUND

SERIES 2006 CAPITAL PROJECTS
FUND	TOTAL

ASSETS

Cash - Checking Account	$ 466,156	$	-	$	-	$	-	$ 466,156	
Due From Other Funds
Investments:	-	119,620	52,869	-	172,489	
Construction Fund	-	-	-	2,223	2,223	
Reserve Fund	-	-	383,823	-	383,823	
Revenue Fund	-	-	175,660	-	175,660	
Prepaid Items	1,480	-	-	-	1,480	
Deposits	11,540	-	-	-	11,540	
TOTAL ASSETS	$ 479,176	$ 119,620	$ 612,352	$	2,223	$ 1,213,371	

LIABILITIES			
Accounts Payable	$	25,379	$	-	$	-	$	-	$	25,379	
Accrued Expenses	1,090	-	-	-	1,090	
Sales Tax Payable	5	-	-	-	5	
Due To Other Funds	172,489	-	-	-	172,489	
TOTAL LIABILITIES	198,963	-	-	-	198,963	

FUND BALANCES
Nonspendable:
Prepaid Items	1,480	

-	

-	

-	

1,480	
Deposits	11,540
Restricted for:
Debt Service	-	-

-	-

612,352	-

-	11,540

612,352	
Capital Projects	-	-	-	2,223	2,223	
Unassigned:	267,193	119,620	-	-	386,813	
TOTAL FUND BALANCES	$ 280,213	$ 119,620	$ 612,352	$	2,223	$ 1,014,408	
					
TOTAL LIABILITIES & FUND BALANCES	$ 479,176	$ 119,620	$ 612,352	$	2,223	$ 1,213,371	

Report Date: 6/14/2017	1

CORDOBA RANCH

Community Development District	General Fund

Statement of Revenues, Expenditures and Changes in Fund Balances
For the Period Ending May 31, 2017

ACCOUNT DESCRIPTION	ANNUAL ADOPTED
BUDGET	
YEAR TO DATE BUDGET	
YEAR TO DATE ACTUAL	
VARIANCE ($) FAV(UNFAV)	YTD ACTUAL AS A % OF
ADOPTED BUD	

REVENUES						
Interest - Investments	$	-	$	-	$	-	$	-	0.00%	
Interest - Tax Collector	-	-	63	63	0.00%	
Special Assmnts- Tax Collector	353,733	353,733	318,622	(35,111)	90.07%	
Special Assmnts- CDD Collected	134,813	134,813	119,389	(15,424)	88.56%	
Special Assmnts- Discounts	(14,149)	(14,149)	(13,944)	205	98.55%	
Other Miscellaneous Revenues	-	-	4,674	4,674	0.00%	
Gate Bar Code/Remotes	-	-	613	613	0.00%	
TOTAL REVENUES	474,397	474,397	429,417	(44,980)	90.52%	

EXPENDITURES						

Administration						
P/R-Board of Supervisors	-	-	1,200	(1,200)	0.00%	
ProfServ-Administrative	4,500	3,000	-	3,000	0.00%	
ProfServ-Arbitrage Rebate	500	500	-	500	0.00%	
ProfServ-Dissemination Agent	5,000	5,000	-	5,000	0.00%	
ProfServ-Engineering	7,500	5,000	5,126	(126)	68.35%	
ProfServ-Financial Advisor	3,600	2,400	-	2,400	0.00%	
ProfServ-Legal Services	12,000	8,000	3,843	4,157	32.03%	
ProfServ-Mgmt Consulting Serv	20,721	13,808	17,407	(3,599)	84.01%	
ProfServ-Special Assessment	5,000	3,334	2,917	417	58.34%	
ProfServ-Trustee Fees	3,500	3,500	2,424	1,076	69.26%	
Accounting Services	15,500	10,328	9,042	1,286	58.34%	
Auditing Services	3,400	-	-	-	0.00%	
Postage and Freight	-	-	688	(688)	0.00%	
Public Officials Insurance	2,200	2,200	1,850	350	84.09%	
Printing and Binding	-	-	412	(412)	0.00%	
Legal Advertising	1,200	800	1,890	(1,090)	157.50%	
Misc-Assessmnt Collection Cost	7,075	7,075	6,769	306	95.67%	
Misc-Web Hosting	840	560	600	(40)	71.43%	
Annual District Filing Fee	 	175 	175 	200 	(25) 	114.29%	
Total Administration	 	92,711 	65,680 	54,368 	11,312 	58.64%	

Other Public Safety		
Contracts-Security Camera	2,500	1,664	1,665	(1)	66.60%	
Contracts-Security Services	10,000	6,664	7,452	(788)	74.52%	
Communication - Telephone	1,650	1,096	1,087	9	65.88%	
R&M-Gatehouse	 	4,800 	3,200 	- 	3,200 	0.00%
Total Other Public Safety	 	18,950 	12,624 	10,204 	2,420 	53.85%

Report Date: 6/14/2017	2

CORDOBA RANCH

Community Development District	General Fund

Statement of Revenues, Expenditures and Changes in Fund Balances
For the Period Ending May 31, 2017

ANNUAL				YTD ACTUAL	
ADOPTED	YEAR TO DATE	YEAR TO DATE	VARIANCE ($)	AS A % OF	
ACCOUNT DESCRIPTION	BUDGET	BUDGET	ACTUAL	FAV(UNFAV)	ADOPTED BUD	

Electric Utility Services
Utility - General	8,700	5,800	5,011	789	57.60%
Electricity - Streetlighting	 	61,200 	40,800 	40,794 	6 	66.66%
Total  Electric Utility Services	 	69,900 	46,600	45,805	795	65.53%

Flood Control/Stormwater Mgmt		
Contracts-Aquatic Control	12,408	8,272	8,272	-	66.67%	
R&M-Fountain	2,500	1,664	579	1,085	23.16%	
R&M-Mitigation	16,300	10,864	5,950	4,914	36.50%	
R&M Lake & Pond Bank	15,000	10,000	2,940	7,060	19.60%	
Impr - Aquatic Plants	 	5,000 	- 	- 	- 	0.00%	
Total Flood Control/Stormwater Mgmt	 	51,208 	30,800	17,741	13,059	34.64%	

Field		
ProfServ-Field Management	6,000	4,000	-	4,000	0.00%	
Contracts-Landscape	109,450	72,960	76,663	(3,703)	70.04%	
Insurance - Property	1,656	1,656	1,434	222	86.59%	
Insurance - General Liability	2,722	2,722	2,058	664	75.61%	
R&M-Entry Feature	4,000	2,664	-	2,664	0.00%	
R&M-Irrigation	12,000	8,000	8,729	(729)	72.74%	
R&M-Mulch	23,100	23,100	11,760	11,340	50.91%	
R&M-Pest Control	2,000	1,328	1,864	(536)	93.20%	
R&M-Plant Replacement	15,000	15,000	11,478	3,522	76.52%	
R&M-Well Maintenance	7,500	5,000	550	4,450	7.33%	
R&M-Annuals	19,000	12,664	14,018	(1,354)	73.78%	
Holiday Lighting & Decorations	2,000	2,000	2,200	(200)	110.00%	
Op Supplies - Fertilizer	 	7,800 	5,200 	1,040 	4,160 	13.33%	
Total Field	 	212,228 	156,294	131,794	24,500	62.10%	

Parks and Recreation - General		
ProfServ-Wildlife Management Service	14,400	9,600	9,600	-	66.67%	
Misc-Contingency	 	15,000 	10,000 	17,937 	(7,937) 	119.58%	
Total Parks and Recreation - General	 	29,400 	19,600 	27,537 	(7,937) 	93.66%	
TOTAL EXPENDITURES	474,397	331,598	287,449	44,149	60.59%	

Excess (deficiency) of revenues Over (under) expenditures	

-	142,799	

141,968	

(831)	

0.00%	

Net change in fund balance	
$	-	$	142,799	
$	141,968	
$	(831)	
0.00%	

FUND BALANCE, BEGINNING (OCT 1, 2016)	
138,245	138,242	
138,245			
FUND BALANCE, ENDING	  $	138,245     $	281,041	$	280,213			

Report Date: 6/14/2017	3

CORDOBA RANCH

Community Development District	Reserve Fund

Statement of Revenues, Expenditures and Changes in Fund Balances
For the Period Ending May 31, 2017

ANNUAL ADOPTED
ACCOUNT DESCRIPTION	BUDGET	
YEAR TO DATE BUDGET	
YEAR TO DATE ACTUAL	
VARIANCE ($) FAV(UNFAV)	YTD ACTUAL AS A % OF
ADOPTED BUD	

REVENUES					
Interest - Investments	$	-	$	-	$	-	$	-	0.00%	
Special Assmnts- Tax Collector	34,263	34,263	33,756	(507)	98.52%	
Special Assmnts- CDD Collected	15,737	15,737	15,737	-	100.00%	
TOTAL REVENUES	50,000	50,000	49,493	(507)	98.99%	

EXPENDITURES						
Reserves
Capital Reserve	
50,000	
-	-	-	0.00%	
Total Reserves	50,000	-	-	-	0.00%	

TOTAL EXPENDITURES & RESERVES	50,000	-	-	-	0.00%	

Excess (deficiency) of revenues Over (under) expenditures	

-	

50,000	

49,493	

(507)	

0.00%	

Net change in fund balance	
$	-	
$	50,000	
$	49,493	
$	(507)	
0.00%	

FUND BALANCE, BEGINNING (OCT 1, 201	
70,127	
70,127	
70,127			
FUND BALANCE, ENDING	$	70,127	$	120,127	$	119,620			

Report Date: 6/14/2017	4

CORDOBA RANCH

Community Development District	Series 2006 Debt Service Fund

Statement of Revenues, Expenditures and Changes in Fund Balances
For the Period Ending May 31, 2017

ACCOUNT DESCRIPTION	ANNUAL ADOPTED
BUDGET	
YEAR TO DATE BUDGET	
YEAR TO DATE ACTUAL	
VARIANCE ($) FAV(UNFAV)	YTD ACTUAL AS A % OF
ADOPTED BUD	

REVENUES						
Interest - Investments	$	-	$	-	$	612	$	612	0.00%	
Special Assmnts- Tax Collector	455,697	455,697	449,013	(6,684)	98.53%	
Special Assmnts- CDD Collected	172,182	172,182	172,182	-	100.00%	
Special Assmnts- Discounts	(18,228)	(18,228)	(17,768)	460	97.48%	
TOTAL REVENUES	609,651	609,651	604,039	(5,612)	99.08%	

EXPENDITURES						

Administration						
Misc-Assessmnt Collection Cost	 	9,113 	9,113 	8,625 	488 	94.65%	
Total Administration	 	9,113 	9,113 	8,625 	488 	94.65%	

Debt Service		
Principal Debt Retirement	180,000	180,000	190,000	(10,000)	105.56%
Interest Expense	 	420,538 	420,538 	411,533 	9,005 	97.86%
Total Debt Service	 	600,538 	600,538	601,533	(995)	100.17%

TOTAL EXPENDITURES	609,651	609,651	610,158	(507)	100.08%	

Excess (deficiency) of revenues Over (under) expenditures	

-	-	(6,119)	

(6,119)	

0.00%	

Net change in fund balance	
$	-	$	-	$	(6,119)	
$	(6,119)	
0.00%	

FUND BALANCE, BEGINNING (OCT 1, 2016)	
618,471	618,471	618,471			
FUND BALANCE, ENDING	  $	618,471     $	618,471	$	612,352			

Report Date: 6/14/2017	5

CORDOBA RANCH

Community Development District	Series 2006 Capital Projects Fund

Statement of Revenues, Expenditures and Changes in Fund Balances
For the Period Ending May 31, 2017

ANNUAL ADOPTED
ACCOUNT DESCRIPTION	BUDGET	
YEAR TO DATE BUDGET	
YEAR TO DATE ACTUAL	
VARIANCE ($) FAV(UNFAV)	YTD ACTUAL AS A % OF
ADOPTED BUD	

REVENUES					
Interest - Investments	$	-	$	-	$	2	$	2	0.00%	
TOTAL REVENUES	-	-	2	2	0.00%	

EXPENDITURES				
TOTAL EXPENDITURES	-	-	-	-	0.00%	

Excess (deficiency) of revenues Over (under) expenditures	

-	-	2	

2	

0.00%	

Net change in fund balance	
$	-	$	-	$	2	
$	2	
0.00%	

FUND BALANCE, BEGINNING (OCT 1, 2016)	
-	-	2,221			
FUND BALANCE, ENDING	  $	-     $	-	$	2,223			

Report Date: 6/14/2017	6

Cordoba Ranch Community Development District

Supporting Schedules

May 31, 2017

CORDOBA RANCH

Community Development District	All Funds

Non-Ad Valorem Special Assessments - Hillbborough Tax Collector (Monthly Collection Distributions)
For the Fiscal Year Ending September 30, 2017

	ALLOCATION BY FUND	
Date Received	Net Amount Received	Discount /
(Penalties) Amount	Collection Cost	
Amount Gross	
General Fund	
Reserve Fund	Series 2006
Debt Service Fund	
			
(1)	
(2)		
Assessments Levied FY 2017		$	813,321	$	323,361	$	34,263	$	455,697	
Allocation %		100%	44%		56%	

11/03/16	
$	1,866	
$	106	
$	38	
$	2,010	
$	884		
$	1,126	
11/15/17	26,256	1,116	536	27,908	12,271		15,637	
11/23/17	18,754	797	383	19,934	8,765		11,169	
12/07/16	221,300	9,409	4,516	235,225	103,430		131,795	
12/15/16	465,144	19,735	9,493	494,372	217,379		276,993	
01/06/17	12,309	388	251	12,949	5,694	-	7,255	
02/06/17	7,658	159	156	7,973	3,506		4,467	
3/31/17 (2)	-	-	-	-	(33,715)	33,715		
5/8/25017	998	-	20	1,018	407	41	570	
					-	
TOTAL	$	754,286	$	31,711	$	15,394	$	801,390	$	318,622	$	33,756	$	449,012	
% COLLECTED	98.5%	98.5%	98.5%	98.5%

TOTAL OUTSTANDING	$	11,931	$	4,739	$	507	$	6,685	

Note (1) - variance to budget due to portion of direct bill put on tax roll. Note (2) - Portion of reverse fund adjusted from general fund .

Report Date: 6/19/2017	7

CORDOBA RANCH

Community Development District	All Funds

Non-Ad Valorem Special Assessments - CDD Collected (Monthly Collection Distributions)
For the Fiscal Year Ending September 30, 2017

Date

Received	Net Amount

Received	Discount /

(Penalties) Amount	Collection

Cost	Amount

Gross	ALLOCATION BY FUND	
					
General Fund	
Reserve	Debt Service Series 2006 Fund	
			(1)			
Assessments Levied FY 2017		$	307,308	$	119,389	15,737	$	172,182	
Allocation %		100%	44%	0%	56%	

11/21/16	
$	67,563			
$	67,563	
$	67,563	
$	-	
$	-	
11/29/16	86,091			86,091	-	-	86,091	
02/08/17	43,046			43,046	-	-	43,046	
02/08/17	33,781			33,781	33,781	-	-	
3/31/17 (2)	-			-	(11,803)	11,803	-	
06/02/17	33,781			33,781	29,847	3,934		
06/02/17	43,045			43,046			43,046	
TOTAL	$	307,307	$	-	$	-	$	307,308	$	119,389	$	15,737	$	172,183	
% COLLECTED	100.0%	100.0%	100.0%	100.0%

TOTAL OUTSTANDING	$	0	$	0	$	0	$	(0)	

Note (1) - variance to budget due to portion of direct bill put on tax roll. Note (2) - Portion of reverse fund adjusted from general fund .

Report Date: 6/19/2017	8

CORDOBA RANCH

Community Development District

Cash & Investment Report May 31, 2017

ACCOUNT NAME	BANK NAME	YIELD	BALANCE

OPERATING FUND

Checking General fund	Jefferson Bank	N/A	$	466,156

Subtotal 	466,156 

DEBT SERVICE AND CAPITAL PROJECT FUNDS

Series 2006 Reserve Account	US Bank	0.05%	$
Series 2006 Revenue Account	US Bank	0.05%	$
Series 2006 Construction Account	US Bank	0.05%	$

383,823
175,660
2,223

Subtotal 	561,706 

Total  $	1,027,862 

Report Date: 6/14/2017	9

CORDOBA RANCH COMMUNITY DEVELOPMENT DISTRICT
Payment Register by Bank Account For the Period from 5/1/2017 to 5/31/2017 (Sorted by Check / ACH No.)

Pymt Type	Check / ACH No.	
Date	Payee Type	
Payee	
Invoice No.	
Payment Description	
Invoice / GL Description	
G/L Account #	Amount Paid	
JEFFERSON BANK - GF - (ACCT# XXXXX9280)

Check	2126	05/03/17	Vendor	SEVERN TRENT ENVIRONMENTAL SERVICES	19285	APRIL MGMT FEE	ProfServ-Mgmt Consulting Serv	001-531027-51301	$1,958.33	
Check	2126	05/03/17	Vendor	SEVERN TRENT ENVIRONMENTAL SERVICES	19285	APRIL MGMT FEE	Postage and Freight	001-541006-51301	$85.10	
Check	2126	05/03/17	Vendor	SEVERN TRENT ENVIRONMENTAL SERVICES	19285	APRIL MGMT FEE	Postage and Freight	001-541006-51301	$7.82	
Check	2126	05/03/17	Vendor	SEVERN TRENT ENVIRONMENTAL SERVICES	19285	APRIL MGMT FEE	Accounting Services	001-532001-51301	$1,291.67	
Check	2126	05/03/17	Vendor	SEVERN TRENT ENVIRONMENTAL SERVICES	19285	APRIL MGMT FEE	ProfServ-Special Assessment	001-531038-51301	$416.67	
Check	2127	05/03/17	Vendor	VIVICON, INC	16945	IRR REPR TIMER A ZONE 14	R&M-Irrigation	001-546041-53901	$62.46	
Check	2128	05/03/17	Vendor	FRONTIER	02135-042217	4/22-5/21 #239-177-5795	Utility - General	001-543001-53100	$134.99	
Check	2129	05/03/17	Vendor	FEDEX	5-781-09086	4/18/17 POSTAGE	Postage and Freight	001-541006-51301	$79.46	
Check	2130	05/03/17	Vendor	DON HARRISON ENTERPRISES	2447	REPR LANDSCAPE LIGHTING	Contracts-Landscape	001-534050-53901	$933.62	
Check	2131	05/05/17	Vendor	VIVICON, INC	16950	REPR IRRIGATION	R&M-Irrigation	001-546041-53901	$207.32	
Check	2131	05/05/17	Vendor	VIVICON, INC	16979	MAY GROUNDS MAINT	Contracts-Landscape	001-534050-53901	$9,582.84	
Check	2132	05/08/17	Vendor	TAMPA ELECTRIC	42517	3/23-4/24/17 ELECTRIC SVC	Electricity - Streetlighting	001-543013-53100	$5,880.52	
Check	2133	05/08/17	Vendor	STRALEY ROBIN VERICKER	14346	THRU 4/15/17 GEN COUNSEL	ProfServ-Legal Services	001-531023-51401	$90.00	
Check	2134	05/08/17	Vendor	HILLSBOROUGH CTY SHERIFFS OFF	29174	3/31/17 ADMIN/MILEAGE FEE	Contracts-Security Services	001-534037-52901	$17.00	
Check	2135	05/08/17	Vendor	ENVERA SYSTEMS	660572	3/31/17 ADDL RESIDENTS	Contracts-Security Services	001-534037-52901	$20.00	
Check	2136	05/08/17	Vendor	COLLEEN PORTICE	042117	3/31-4/1/17 PATROL	Security Service - Sheriff	001-534365-53901	$240.00	
Check	2137	05/08/17	Vendor	SIGNS OF TAMPA BAY LLC	13374	STREET SIGN BRACKET	Misc-Contingency	001-549900-53901	$319.00	
Check	2138	05/09/17	Vendor	AQUAGENIX	1300508	MAY AQUATICS SVC	Contracts-Aquatic Control	001-534067-53801	$1,034.00	
Check	2139	05/09/17	Vendor	VIVICON, INC	16989	IRR REPR VALVES TIMER 2	R&M-Irrigation	001-546041-53901	$756.04	
Check	2140	05/09/17	Vendor	ARMSTRONG ENVIRONMENTAL SVC	11818	APRIL WETLAND/MITIGATION MAINT	R&M-Mitigation	001-546100-53801	$850.00	
Check	2141	05/09/17	Vendor	SITE MASTERS OF FLORIDA, LLC	042817-1	REPR UNDER ROADWAY BRKN IRR	Misc-Contingency	001-549900-57201	$1,400.00	
Check	2142	05/15/17	Vendor	AQUAGENIX	1300510	MAY QTLY FOUNTAIN MAINT	R&M-Fountain	001-546032-53901	$240.00	
Check	2143	05/17/17	Vendor	HILLSBOROUGH CTY SHERIFFS OFF	29473	4/30/17 ADMIN/MILEAGE FEE	Contracts-Security Services	001-534037-52901	$43.50	
Check	2144	05/17/17	Vendor	SIGNS OF TAMPA BAY LLC	13587	STREET SIGN BRACKET REPR	Misc-Contingency	001-549900-53901	$404.00	
Check	2145	05/23/17	Vendor	AQUAGENIX	1300512	MAY QTRLY LITTORAL MAINT	R&M Lake & Pond Bank	001-546185-53801	$900.00	
Check	2146	05/23/17	Vendor	VIVICON, INC	17022	REPR IRRIGATION TIMER 1,3	R&M-Irrigation	001-546041-53901	$153.85	
Check	2147	05/23/17	Vendor	V GLOBAL TECH	0513-17-03	MAY17 WEBSITE MAINT	Misc-Web Hosting	001-549915-51301	$75.00	
Check	2147	05/23/17	Vendor	V GLOBAL TECH	0409-17-03	APRIL17 WEBSITE MAINT	Misc-Web Hosting	001-549915-51301	$75.00	
Check	2148	05/24/17	Vendor	JERRY RICHARDSON	1027	MAY HOG REMOVAL SVC	ProfServ-Wildlife Management Service	001-531074-53901	$1,200.00	
Check	2149	05/25/17	Vendor	F. PETER WILLIAMS	052317	BOARD MEETING 5/23/17	P/R-Board of Supervisors	001-511001-51301	$200.00	
								Account Total	$28,658.19	
								Total Amount Paid	$28,658.19	

Total Amount Paid - Breakdown by Fund	
Fund		Amount	
General Fund Fund - 001		28,658.19	
	Total	28,658.19	

10

2C.

CORDOBA RANCH
Community Development District

Annual Operating and Debt Service Budget
Fiscal Year 2018

Version 1 - Modified Tentative  Budget:
(Printed on 6/14/2017)

Prepared by:

CORDOBA RANCH

Community Development District

Table of Contents

Page #

OPERATING BUDGET

General Fund
Summary of Revenues, Expenditures and Changes in Fund Balances	1-2
Exhibit A - Allocation of Fund Balances	3
Budget Narrative	4-7
DEBT SERVICE BUDGETS
Series 2006
Summary of Revenues, Expenditures and Changes in Fund Balances	8
Amortization Schedule	9
Budget Narra…tiv…e 	10
SUPPORTING BUDGET SCHEDULES
2017-2018 Non-Ad Valorem Assessment Summary…	11

Cordoba Ranch
Community Development District

Operating Budget
Fiscal Year 2018

CORDOBA RANCH

Community Development District	General Fund

Summary of Revenues, Expenditures and Changes in Fund Balances
Fiscal Year 2018 Modified Tentative Budget

	ORIGINAL	ACTUAL	PROJECTED	TOTAL	ANNUAL	
ACTUAL	BUDGET	THRU	JUNE-	PROJECTED	BUDGET	
ACCOUNT DESCRIPTION	FY 2016	FY 2017	MAY-2017	SEP-2017	FY 2017	FY 2018	

REVENUES
Interest - Investments

$	374    $	- $

-    $	- $

-    $	-

Interest - Tax Collector	-	-	63	-	63	-	
Special Assmnts- Tax Collector	341,575	320,742	352,378	5,246	357,624	357,623	
Special Assmnts- CDD Collected	128,587	150,550	135,126	-	135,126	135,125	
Special Assmnts- Discounts	-	-	(13,944)	-	(13,944)	(14,305)	
Other Miscellaneous Revenues	561	-	4,674	-	4,674	-	
Gate Bar Code/Remotes	-	-	613	-	613	-	
TOTAL REVENUES	471,097	471,292	478,910	5,246	484,156	478,444	

EXPENDITURES
Administrative

P/R-Board of Supervisors	-	-	1,200	800	2,000	2,400	
ProfServ-Administrative	4,500	4,500	-	-	-	-	
ProfServ-Arbitrage Rebate	2,300	500	-	500	500	500	
ProfServ-Dissemination Agent	5,000	5,000	-	5,000	5,000	5,000	
ProfServ-Engineering	8,488	7,500	5,126	2,374	7,500	7,500	
ProfServ-Financial Advisor	8,600	3,600	-	3,600	3,600	-	
ProfServ-Legal Services	10,244	12,000	3,843	8,157	12,000	8,000	
ProfServ-Mgmt Consulting Serv	20,721	20,721	17,407	6,093	23,500	45,320	
ProfServ-Special Assessment	5,000	5,000	2,917	2,083	5,000	-	
ProfServ-Trustee Fees	3,203	3,500	2,424	-	2,424	3,500	
Accounting Services	11,500	15,500	9,042	6,458	15,500	-	
Auditing Services	3,300	3,400	-	3,400	3,400	3,423	
Postage and Freight	-	-	688	-	688	250	
Public Officials Insurance	1,850	2,200	1,850	-	1,850	2,035	
Printing and Binding	-	-	412	-	412	100	
Legal Advertising	976	1,200	1,890	-	1,890	3,500	
Misc-Assessmnt Collection Cost	-	-	6,769	306	7,075	7,152	
Misc-Web Hosting	770	840	600	300	900	900	
Annual District Filing Fee	175	175	200	-	200	175	
Total Administrative	86,627	85,636	54,368	39,071	93,439	89,755	

Other Public Safety

Contracts-Security Camera	1,375	2,500	1,665	800	2,465	2,500	
Contracts-Security Services	16,879	10,000	7,452	2,548	10,000	10,000	
Communication-Telephone	1,600	1,650	1,087	533	1,620	1,650	
R&M-Gate	335	4,800	-	4,800	4,800	4,800	
Total Other Public Safety	20,189	18,950	10,204	8,681	18,885	18,950	

Electric Utility Services

Utility - General	7,820	8,700	5,011	2,506	7,517	8,700	
Electricity - Streetlighting	58,538	61,200	40,794	20,406	61,200	61,200	
Total Electric Utility Services	66,358	69,900	45,805	22,912	68,717	69,900	

Annual Operating and Debt Service Budget
Fiscal Year 2018	1

CORDOBA RANCH

Community Development District	General Fund

Summary of Revenues, Expenditures and Changes in Fund Balances
Fiscal Year 2018 Modified Tentative Budget

	ORIGINAL	ACTUAL	PROJECTED	TOTAL	ANNUAL	
ACTUAL	BUDGET	THRU	JUNE-	PROJECTED	BUDGET	
ACCOUNT DESCRIPTION	FY 2016	FY 2017	MAY-2017	SEP-2017	FY 2017	FY 2018	

Flood Control/Stormwater Mgmt

Contracts-Aquatic Control	13,968	12,408	8,272	4,136	12,408	12,408	
R&M-Fountain	960	2,500	579	1,921	2,500	2,500	
R&M-Mitigation	15,455	16,300	5,950	10,350	16,300	16,300	
R&M Lake & Pond	9,750	15,000	2,940	12,060	15,000	15,000	
Impr - Aquatic Plants	840	5,000	-	5,000	5,000	5,000	
Total Flood Control/Stormwater Mgmt	40,973	51,208	17,741	33,467	51,208	51,208	

Field

ProfServ-Field Management	4,000	6,000	-	-	-	-	
Contracts-Landscape	113,051	109,450	76,663	38,331	114,994	114,994	
Insurance - Property	1,434	1,656	1,434	-	1,434	1,577	
Insurance - General Liability	2,250	2,722	2,058	-	2,058	2,264	
R&M-Entry Feature	-	4,000	-	4,000	4,000	4,000	
R&M-Irrigation	2,566	12,000	8,729	4,365	13,094	12,000	
R&M-Pest Control	-	2,000	1,864	932	2,796	3,200	
R&M-Plant Replacement	20,722	15,000	11,478	8,522	20,000	15,000	
R&M-Well Maintenance	-	7,500	550	6,950	7,500	7,500	
R&M-Annuals	-	19,000	14,018	4,982	19,000	19,000	
R&M-Mulch	-	23,100	11,760	11,340	23,100	23,100	
Holiday Lighting & Decorations	-	2,000	2,200	-	2,200	2,200	
Op Supplies - Fertilizer	-	7,800	1,040	6,760	7,800	7,800	
Total Field	144,023	212,228	131,794	86,182	217,976	212,635	

Parks and Recreation - General

ProfServ-Wildlife Management Service	14,695	14,400	9,600	4,800	14,400	16,800	
Misc-Contingency	4,365	15,000	17,937	-	17,937	14,995	
Total Parks and Recreation - General	19,060	29,400	27,537	4,800	32,337	31,795	

Reserves
Capital Reserves	-	

50,000	

-	

-	

-	

50,000	
Total Reserves	-	50,000	-	-	-	50,000	
						
TOTAL EXPENDITURES & RESERVES	377,230	517,322	287,449	195,112	482,561	524,244	

Excess (deficiency) of revenues
Over (under) expenditures	92,740	

(46,030)	

191,461	

(189,866)	

1,595	

(45,800)	

OTHER FINANCING SOURCES (USES)
Contribution to (Use of) Fund Balance	-	

(46,030)	

-	

-	

-	

(45,800)	
TOTAL OTHER SOURCES (USES)	-	(46,030)	-	-	-	(45,800)	

Net change in fund balance	92,740	
(46,030)	
191,461	
(189,866)	
1,595	
(45,800)	

FUND BALANCE, BEGINNING	115,632	
208,372	
208,372	
-	
208,372	
209,967	
FUND BALANCE, ENDING	$ 208,372	$ 162,342	$ 399,833	$ (189,866)	$ 209,967	$ 164,167	

Annual Operating and Debt Service Budget
Fiscal Year 2018	2

CORDOBA RANCH

Community Development District

Exhibit "A"
Allocation of Fund Balances

AVAILABLE FUNDS		
	Amount	
Beginning Fund Balance - Fiscal Year 2018	$	209,967	
Net Change in Fund Balance - Fiscal Year 2018	(45,800)	
Reserves - Fiscal Year 2018 Additions	50,000	
Total Funds Available (Estimated) - 9/30/2018	214,167	

ALLOCATION OF AVAILABLE FUNDS

Assigned Fund Balance		
Operating Reserve - First Quarter Operating Capital		44,040	
Reserve Previous years		70,127	
Capital Reserve FY 2017		50,000	
Capital Reserve FY 2018		50,000	
	Subtotal	214,167	
			
Total Allocation of Available Funds		214,167	
			
Total Unassigned (undesignated) Cash		$	(0)	

(1)

Notes
Represents approximately 1 month of operating expenditures

Annual Operating and Debt Service Budget
Fiscal Year 2018	3

CORDOBA RANCH
Community Development District	General Fund

Budget Narrative
Fiscal Year 2018

REVENUES

Interest-Investments
The District earns interest on the monthly average collected balance for their operating account.

Special Assessments-Tax Collector
The District will levy a Non-Ad Valorem assessment on all the assessable property within the District in order to pay for the operating expenditures during the Fiscal Year.

Special Assessments-Discounts
Per Section 197.162, Florida Statutes, discounts are allowed for early payment of assessments. The budgeted amount  for the fiscal year is calculated at 4% of the anticipated Non-Ad Valorem assessments.

Other Miscellaneous Revenue
The District receives other miscellaneous revenue.

Gate Bar Code/Remotes
The District receives amounts for gate bar codes and gate remotes that operate the gates of the District.

Administrative

P/R-Board of Supervisors
Chapter 190 of the Florida Statutes allows for members of the Board of Supervisors to be compensated $200 per meeting at which they are in attendance. The amount for the Fiscal Year is based upon all supervisors attending all of the meetings.

Professional Services - Arbitrage Rebate Calculation
The District has a proposal with a company who specializes to calculate the District's Arbitrage Rebate Liability on the Series of Benefit Special Assessment Bonds. The budgeted amount for the fiscal year is based on standard fees charged for this service.

Professional Services - Dissemination Agent
The District is required by the Securities and Exchange Commission to comply with Rule 15c2-12(b)-(5), which relates to additional reporting requirements for unrelated bond issues. The budgeted amount for the fiscal year is based on  standard fees charged for this service.

Professional Services-Engineering
The District's engineer provides general engineering services to the District, i.e. attendance and preparation for monthly board meetings when requested, review of invoices, and other specifically requested assignments.

Professional Services-Legal Services
The District’s Attorney provides general legal services to the District, i.e., attendance and preparation for monthly Board meetings, review of contracts, review of agreements and resolutions, and other research as directed or requested by the Board of Supervisors and the District Manager.

Annual Operating and Debt Service Budgets Fiscal Year 2018
4

CORDOBA RANCH
Community Development District	General Fund

Budget Narrative
Fiscal Year 2018

EXPENDITURES

Administrative (continued)

Professional Services-Management Consulting Services
The District receives Management, Field Services, Accounting, Assessment and Administrative services as part of a Management Agreement with Severn Trent Environmental Services, Inc. Also included are costs for Information Technology charges to process all of the District’s financial activities, i.e. accounts payable, financial statements, budgets, etc., on a main frame computer owned by Severn Trent in accordance with the management contract and the charge for rentals. The budgeted amount for the fiscal year is based on the contracted fees for management services versus  Rizzetta who included Administrative, Financial Advisor and Accounting services fees

Professional Services – Trustee Fees
The District issued this Series of 2013 Capital Improvement Revenue Bonds that are deposited with a Trustee to handle all trustee matters. The annual trustee fee is based on standard fees charged plus any out-of-pocket expenses.

Auditing Services
The District is required to conduct an annual audit of its financial records by an Independent Certified Public Accounting Firm. The budgeted amount for the fiscal year is based on contracted fees from an existing engagement letter.

Postage and Freight
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.

Public Official Insurance
The District's Public Officials Liability Insurance policy is with Florida Insurance Alliance Inc. They specialize in providing insurance coverage to governmental agencies. The budgeted amount allows for a projected increase in the premium.

Printing and Binding
Copies used in the preparation of agenda packages, required mailings, and other special projects.

Legal Advertising
The District is required to advertise various notices for monthly Board meetings and other public hearings in a newspaper of general circulation.

Miscellaneous-Assessment Collection Costs
The District reimburses the Pasco County Tax Collector for her or his necessary administrative costs. Per the Florida Statutes, administrative costs shall include, but not be limited to, those costs associated with personnel, forms, supplies, data processing, computer equipment, postage, and programming. The District also compensates the Tax Collector for the actual cost of collection or 2% on the amount of special assessments collected and remitted, whichever is greater. The fiscal year budget for collection costs is based on a maximum of 2% of the anticipated Non-Ad Valorem assessment collections.

Miscellaneous-Web Hosting
The District is mandated to post on the internet the approved and adopted budgets, minutes and audits per State requirements.

Annual Operating and Debt Service Budgets Fiscal Year 2018
5

CORDOBA RANCH
Community Development District	General Fund

Budget Narrative
Fiscal Year 2018

EXPENDITURES

Administrative (continued)

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

Other Public Safety

Contracts- Security Camera
The District has a contract with Envera Systems Inc. for monitoring the security cameras and maintenance.

Contracts- Security Service
The District has a contract with Envera Systems Inc. for monitoring the security access and additional patrol by the Sheriff’s Office on an as needed basis.

Communication-Telephone
This is for the gate telephone usage by the District with Fronteir.

R&M-Gate
This includes the repairs and maintenance of the Districts Gate.

 Electric Utility Services

Electricity-General
This is for the electric utility services for the irrigation timers, lift station pumps, fountains, etc.

Electricity-Streetlighting
This is for the electric for the streetlights.

Flood Control/ Stormwater Management

Contracts-Aquatic Control
The District has a contract for the monthly care and maintenance of the lakes and ponds with Aquagenix for $1,034 per month.

R&M-Fountain
This is for the repairs and maintenance of the fountains throughout the Parks and Recreational areas.

R&M-Mitigation
This is for monitoring the water level and vegetation of the lakes and wetland of the District.

R&M-Lake & Pond
This is for any maintenance required for the lakes and Ponds of the District.

Impr - Aquatic Plants
This is for any improvement required for the aquatic plants of the District.

Annual Operating and Debt Service Budgets Fiscal Year 2018
6

CORDOBA RANCH
Community Development District	General Fund

Budget Narrative
Fiscal Year 2018

EXPENDITURES

Field

Contracts-Landscape
The District currently has a contract with Vivicon for landscaping that includes general mowing, edging and maintenance with a monthly fee $9,582.84.

Insurance – Property
This is for the property insurance for the items owned by the District.

Insurance – General Liability
This is for the general liability insurance for the items owned by the District.

R&M-Entry Feature
This is for the repairs and maintenance of the entry monuments and fencing.

R&M-Irrigation
This is for the repairs and maintenance of the irrigation system of the District.

R&M-Pest Control
This is for pest control and ant treatments in the District.

R&M-Plant Replacement
This is for the landscape replacement including turf, trees, shrubs, etc. around the District.

R&M-Annuals
This is for the installation of the annual flowers around the District.

Holiday Lighting & Decorations
This is for the decorations that will be displayed around the District during the Holidays.

Op Supplies - Fertilizer
This includes fertilizer and miscellaneous supplies needed for the District.

ProfServ-Wildlife Management Service
Hog removal services by Jerry Richardson for $1,400 per month.

Miscellaneous-Contingency
This is for any miscellaneous fees or services that may arise around the District.

Reserves

Capital Reserves
This is capital reserves for any expenses that may arise around the District.

Annual Operating and Debt Service Budgets Fiscal Year 2018
7

Cordoba Ranch
Community Development District

Debt Service Budgets
Fiscal Year 2018

CORDOBA RANCH

Community Development District	Series 2006 Debt Service Fund

Summary of Revenues, Expenditures and Changes in Fund Balances
Fiscal Year 2018 Modified Tentative Budget

	ADOPTED	ACTUAL	PROJECTED	TOTAL	ANNUAL	
ACTUAL	BUDGET	THRU	JUNE-	PROJECTED	BUDGET	
ACCOUNT DESCRIPTION	FY 2016	FY 2017	MAY-2017	SEP-2017	FY 2017	FY 2018	

REVENUES

Interest - Investments	$	352	$	-	$	612	$	-	$	612	$	350	
Special Assmnts- Tax Collector	428,355	455,697	449,013	6,684	455,697	455,697	
Special Assmnts- CDD Collected	172,182	172,182	172,182	-	172,182	172,182	
Special Assmnts- Discounts	-	(18,228)	(17,768)	-	(17,768)	(18,228)	

TOTAL REVENUES	600,889	609,651	604,039	6,684	610,723	610,001

EXPENDITURES
Administrative

Misc-Assessmnt Collection Cost	-	9,113	8,625	134	8,759	18,228	
Total Administrative	-	9,113	8,625	134	8,759	18,228	

Debt Service						
Principal Debt Retirement	180,000	180,000	190,000	-	190,000	205,000	
Interest Expense	421,523	420,538	411,533	-	411,533	400,988	
Total Debt Service	601,523	600,538	601,533	-	601,533	605,988	
						
TOTAL EXPENDITURES	601,523	609,651	610,158	134	610,292	624,215	
Excess (deficiency) of revenues Over (under) expenditures	

(634)	

-	

(6,119)	

6,550	431	

(14,214)	

OTHER FINANCING SOURCES (USES)		
Contribution to (Use of) Fund Balance	-	-	-	-	-	(14,214)	
TOTAL OTHER SOURCES (USES)	-	-	-	-	-	(14,214)	

Net change in fund balance	
(634)	
-	
(6,119)	
6,550	
431	
(14,214)	

FUND BALANCE, BEGINNING	
1	
618,471	
618,471	
-	
618,471	
618,902	
FUND BALANCE, ENDING	$	618,471	$	618,471	$	612,352	$	6,550	$	618,902	$	604,688	

Annual Operating and Debt Service Budget
Fiscal Year 2018	8

CORDOBA RANCH

Community Development District	Series 2006 Debt Service Fund

AMORTIZATION SCHEDULE
Capital Improvement Revenue Bonds

Annual
Outstanding	Debt	Debt
Date	Balance	Principal	Coupon	Interest	Service	Service

5/1/2018	$7,225,000	$205,000	5.55%	$200,494	$405,494	$611,260	
11/1/2018	$7,020,000		5.55%	$200,494	$200,494		
5/1/2019	$7,020,000	$215,000	5.55%	$194,805	$409,805	$610,299	
11/1/2019	$6,805,000		5.55%	$194,805	$194,805		
5/1/2020	$6,805,000	$225,000	5.55%	$188,839	$413,839	$608,644	
11/1/2020	$6,580,000		5.55%	$188,839	$188,839		
5/1/2021	$6,580,000	$240,000	5.55%	$182,595	$422,595	$611,434	
11/1/2021	$6,340,000		5.55%	$182,595	$182,595		
5/1/2022	$6,340,000	$255,000	5.55%	$175,935	$430,935	$613,530	
11/1/2022	$6,085,000		5.55%	$175,935	$175,935		
5/1/2023	$6,085,000	$265,000	5.55%	$168,859	$433,859	$609,794	
11/1/2023	$5,820,000		5.55%	$168,859	$168,859		
5/1/2024	$5,820,000	$285,000	5.55%	$161,505	$446,505	$615,364	
11/1/2024	$5,535,000		5.55%	$161,505	$161,505		
5/1/2025	$5,535,000	$300,000	5.55%	$153,596	$453,596	$615,101	
11/1/2025	$5,235,000		5.55%	$153,596	$153,596		
5/1/2026	$5,235,000	$315,000	5.55%	$145,271	$460,271	$613,868	
11/1/2026	$4,920,000		5.55%	$145,271	$145,271		
5/1/2027	$4,920,000	$335,000	5.55%	$136,530	$471,530	$616,801	
11/1/2027	$4,585,000		5.55%	$136,530	$136,530		
5/1/2028	$4,585,000	$355,000	5.55%	$127,234	$482,234	$618,764	
11/1/2028	$4,230,000		5.55%	$127,234	$127,234		
5/1/2029	$4,230,000	$375,000	5.55%	$117,383	$492,383	$619,616	
11/1/2029	$3,855,000		5.55%	$117,383	$117,383		
5/1/2030	$3,855,000	$395,000	5.55%	$106,976	$501,976	$619,359	
11/1/2030	$3,460,000		5.55%	$106,976	$106,976		
5/1/2031	$3,460,000	$415,000	5.55%	$96,015	$511,015	$617,991	
11/1/2031	$3,045,000		5.55%	$96,015	$96,015		
5/1/2032	$3,045,000	$440,000	5.55%	$84,499	$524,499	$620,514	
11/1/2032	$2,605,000		5.55%	$84,499	$84,499		
5/1/2033	$2,605,000	$465,000	5.55%	$72,289	$537,289	$621,788	
11/1/2033	$2,140,000		5.55%	$72,289	$72,289		
5/1/2034	$2,140,000	$490,000	5.55%	$59,385	$549,385	$621,674	
11/1/2034	$1,650,000		5.55%	$59,385	$59,385		
5/1/2035	$1,650,000	$520,000	5.55%	$45,788	$565,788	$625,173	
11/1/2035	$1,130,000		5.55%	$45,788	$45,788		
5/1/2036	$1,130,000	$550,000	5.55%	$31,358	$581,358	$627,145	
11/1/2036	$580,000		5.55%	$31,358	$31,358		
5/1/2037	$580,000	$580,000	5.55%	$16,095	$596,095	$627,453	
		$7,225,000		$7,278,409	$15,363,409	$12,345,569	

Annual Operating and Debt Service Budget
Fiscal Year 2018	9

Cordoba Ranch
Community Development District	Debt Service

Budget Narrative
Fiscal Year 2018

Revenue

Interest-Investments
The District earns interest income on their trust accounts with US Bank

Special Assessment-Tax Collector
The District will levy a Non-Ad Valorem assessment on all sold and platted parcels within the District to pay for the operating expenditures during the Fiscal Year.

Special Assessment-Discounts
Per Section 197.3632 and Section 197.162 of the Florida Statutes, discounts are allowed for early payment of assessments collected by the Tax Collector and only when the Tax Collector is using the uniform methodology. The budgeted amount for the fiscal year is calculated at 4% of the anticipated Non-Ad Valorem assessments.

Expenditures- Administrative

Misc-Assessment Collection Costs
The District reimburses the Tax Collector for her or his necessary administrative costs. Per the Florida Statutes, administrative costs shall include, but not be limited to, those costs associated with personnel, forms, supplies, data processing, computer equipment, postage, and programming. The District also compensates the Tax Collector for the actual cost of collection or 2% on the amount of special assessments collected and remitted, whichever is greater. The budget for collection costs was based on a maximum of 2% of the anticipated assessment collections.

Debt Service

Principal Debt Retirement
The District pays regular principal payments annually in order to pay down/retire the debt on May 1.

Interest Expense
The District pays interest expense on the debt on May 1 and November 1 of each year.

Annual Operating and Debt Service Budget
Fiscal Year 2018	10

Cordoba Ranch
Community Development District

Supporting Budget Schedules
Fiscal Year 2018

CORDOBA RANCH
Community Development District

All Funds

Comparison of Non-Ad Valorem Assessment Rates Fiscal Year 2018 vs. Fiscal Year 2017

0
prepaid lots
General Fund	Debt Service	Total Assessments per Unit	

Units	
Percent
FY 2018	FY 2017   Change	Percent
FY 2018	FY 2017	Change	Percent
FY 2018    FY 2017	Change		

$1,753.05 $1,753.05 0.00%	
$2,233.81	$2,233.81	0.0%	
$3,986.86  $3,986.86	0.0%	
286	

Annual Operating and Debt Service Budget
Fiscal Year 2018	11

Fifth Order of Business

06/14/2017

The following report is for June to illustrate what has changed from May and what to expect through June and the coming months. The photos this month were taken on Tuesday, June 14th, 2017.
The ponds were treated on Friday June 9th this month. Water levels are up a little from where they were. We have had any some rain. Overall, the ponds are still in good shape. There was a little Algae and some submersed that was showing
The Fountain breakers were both tripped off at the same time, so it sounds like a power surge. I adjusted the timers Turned them both on to insure they work and they both pumped out mud and sludge so I turned them off until
The ponds come up a little more.

Thank you for your business! Sincerely,

Scott Croft Aquagenix

Date: 6/14/17	

Pond #100	
What we found: Pond overall looks good. The water levels are very low.

What we did: Treated Exposed Shoreline.
What to expect Water levels are slowing coming back, but still too low to run the fountains		
Recommendations & Notes: Keep the fountain off for right now.	

Date: 6/14/17	Pond #110	
What we found: Pond is looking good. Water level is up from last few months

What we did: Exposed Shoreline was treated.

What to expect: Hopefully the fountain to get turned back on over next couple weeks		
Notes: Fountain shut off because the breakers were tripped and fountain is pushing up mud	
Page 1

Date: 6/14/17	
Pond #120	

What we found: A little more water in pond

What we did: Treated Grasses on exposed shoreline and Sprayed the Littoral Shelf

What to Expect: Water levels to continue to increase.		
Recommendations & Notes: Planting the shelf with approval	

Date: 6/14/17	Pond #125	
What we found: Pond has some submersed, but still looks good

What we did: Followed up last months submersed treatment

What to Expect: Pond is looking better with the past rain.		
Recommendations & Notes: At some point this could be a good pond for Triploid Grass Carp. They will help eat the submersed vegetation. Same as last month, but Carp would help this pond for sure.	

Page 2

Date: 6/14/17	Pond #126	
What we found: A little more water than last month
What we did: Treated exposed shoreline. Tech did get a little rain during the treatment

What to expect Pond to fill with the continued rains		
Recommendations & Notes: Will get planted soon after we have approval	

Date: 6/14/17	Pond #130	
What we found: Pond is still low, but looking better
What we did: Treated the exposed areas and spot treated the Algae

What to expect :Rain to fill these ponds soon.		
Recommendations & Notes: This pond will be planted soon hopefully.	

Page 3

Date: 6/14/17	Pond #140	
What we found: Had a touch of Algae

What we will do: Treated the algae.

What to expect: Algae will die off. Pond will fill with coming rains		
Recommendations & Notes: This will be part of the planting quote.	

Date: 6/14/17	Pond #143A	
What we found: A little more water

What we did: Spot treatment

What to expect: Pond to fill with continuing rains		
Recommendations & Notes: Continue to look good	

Page 4

Date: 6/14/17	Pond #143B	
What we found: Pond is filling up to some degree

What we will do: We Spot treated the exposed bank.

What to Expect: Continue to fill with rains		
Recommendations & Notes: Will be part of the planting quote.	

Date: 6/14/17	Pond #146	
What we found: A little more water than last few months

What we did: Spot treated exposed shoreline.

What to expect: Continue to look good as the rains keep coming		
Recommendations & Notes: OK	

Page 5

Date: 6/14/17	Pond #150	
What we found: Pond looking good and filling up.

What we did: Spot treated exposed shoreline.

What to Expect: Continue to look very good.		

Recommendations & Notes: Pool complete to the northwest.	

Date: 6/14/17	Pond #170	
What we found: Pond still in very good shape.

What we did: Spot treated exposed shoreline.

What to expect: Little bit of Torpedo grass is dying off.		

Recommendations & Notes: Pond to continue to look good.	

Page 6

Date: 6/14/17	Pond #180	
What we found: Some submersed on the Littoral shelf. Rest of pond looks good.
What we did: Treated for it and spot treat shoreline grasses.
What to expect: We are still working on this.		

Date: 6/14/17	Pond #185	
What we found: Water levels are coming back a little at a time

What we did: Treated exposed shoreline.

What to expect: Water levels to continue to rise.		
Recommendations & Notes: Would be part of the Planting quote.	
Page 7

Date: 6-14-17	Pond 190A	

What we found: Trace of grass on the littoral shelf and rest looking good.

What we did: Treated perimeter grasses and exposed Littoral Shelf.

What to expect: Pond to continue to look good as water rises.		
Recommendations & Notes: Planting the Littoral Shelf over the next couple of months with approval.	

Date: 06/14/17	Pond # 190B	
What we found: Still looking very good.

What we did: Spot treated exposed shoreline
What to Expect should: Water to continue to rise with summer rains.		
Recommendations & Notes: Littoral Shelf planting over the next few months if approved.	
Page 8

Date: 6/14/17	Pond #200	
What we found: Water levels still low and a little PA
What we did: Treated exposed shoreline.
What to expect: We will not treat for the PA with the water levels this low because we do not want a fish kill. ( same as last month)		
Recommendations & Notes: Did not treat the Algae ( PA) because of such low water levels	

Date: 6/14/17	Pond #210	
What we found: Water level still down, but slowly filling

What we did: Treated all exposed Littoral Shelf and shoreline again like last month.

What to expect: Pond to fill with summer rains.		
Recommendations & Notes: Eventually plant both Littoral shelf ends of the pond. Plant it in the summer hopefully	

Page 9

Date: 6/14/17	Pond #220	
What we found: Still just a small puddle in center.

What we did: Spot Treated exposed shoreline. Just a mud puddle in center

What to expect: Should start to fill with summer rains.		
Recommendations & Notes:	

Date: 6/14/17	Pond #230	
What we found: Pond itself is looking good. It has undermining under the cap on the pipe that is straight ahead in the picture.

What we did: Inspected this one.

What to expect: Need repair on Mitered End straight ahead in picture.		
Recommendations & Notes: Part of the Littoral Shelf Planting Quote. Consider fixing the undermining.	

Page 10

Date: 6/14/17	Pond #240A	
What we found: A little water in the center
What we did: Treated exposed Pond bottom

What to expect: Summer rains to fill pond		
Recommendations & Notes: Needs Mitered End Repair. A lot of undermining.	

Date: 6/14/17	Pond #240 B	
What we found: Pond Dry

What we did: Sprayed exposed bottom.

What to expect: Slowly fill with Summer rains		
Recommendations & Notes: Will keep an eye on the concrete cap minimal undermining to insure it does not crack. We can provide a proposal for this (same).	

Page 11

Date: 6/14/17	Pond #260	
What we found: Looking much Better. More water.

What we did: Treated trace of Algae

What to expect: Continue to look very good.		
Recommendations & Notes: Littoral Shelf will be part of the planting quote.	

Date: 6/14/17	Pond #270A	
What we found: Pond looking very good.

What we did: Treated exposed shoreline. Keep some Spatterdock to take up nutrients.

What to expect: Should stay pretty clean.		
Recommendations & Notes: None at this time.	
Page 12

Date: 6/14/17	Pond #270B	
What we found: A little more water.

What we did: Treated exposed areas and shoreline

What to expect: Pond to fill with summer rains		
Recommendations & Notes: Part of the Planting Quote.	

Date: 6/14/17	Pond #280	
What we found: Has a lot of new growth around the pond.

What we did: Treated exposed Grass.

What to expect: Vegetation to die off.		
Recommendations & Notes: Northeast corner is part of the planting quote.	
	
Page 13

Date: 6/14/17	Pond #290	
What we found: Still had Algae on it.

What we did: Treated for it. Also treated the Littoral Shelf area.

What to expect: Have to be very careful with the very low water levels.		
Recommendations & Notes: Will require more plants on the northeast littoral shelf.	

Date: 6/14/17	Pond #300	

What we found: Water still a little low, but slowly filling.

What we did: Treated exposed shoreline.
What to Expect continued Tough access with new home, but we are managing.		
Recommendations & Notes: Yellow Boom needs removed.	

Page 14

Date: 6/14/17	Pond #310	

What we found: The Littoral shelf is still dry, but the pond is filling.

What we did: Treated exposed Littoral Shelf.

What to expect: Green vegetation To turn brown.		
Recommendations & Notes: Part of planting quote. Still needs more rain.	

Date: 6/14/17	Pond #320	

What we found: Needs to mow around.

What we did: Treated exposed Shoreline

What to Expect should slowly fill with rains?		
Recommendations & Notes: None	
Date: 6/14/17	Pond #230	
This Mitered End is undermining as seen in picture and needs repair before it gets expensive.		
Recommendations & Notes: Repair while the water is down.	
Page 15