Cordoba Ranch Community Development District

Final Budget for Fiscal Year 2016/2017 Presented by: Rizzetta & Company, Inc.
Wesley Chapel Office 5844 Old Pasco Rd., Suite100 Wesley Chapel, Florida 33544
Phone: 813-994-1001

rizzetta.com

Final Budget
Cordoba Ranch Community Development District General Fund
Fiscal Year 2016/2017	
	
Chart of Accounts Classification	
Budget for 2016/2017	
1			
2	REVENUES		
3			
4	Interest Earnings		
5	Interest Earnings	$	-	
6	Special Assessments		
7	Tax Roll*	$	286,479	
8	Off Roll*	$	134,813	
9	Other Miscellaneous Income	$	-	
10			
11	Contributions & Donations from Private Sources		
12	Developer Contributions	$	-	
13			
14	TOTAL REVENUES	$	421,292	
15			
16	Balance Forward from Prior Year	$	46,030	
17			
18	TOTAL REVENUES AND BALANCE FORWARD	$	467,322	
19			
20	*Allocation of assessments between the Tax Roll and Off Roll are	
21			
22	EXPENDITURES - ADMINISTRATIVE		
23			
24	Financial & Administrative		
25	District Management	$	20,721	
26	Administrative Services	$	4,500	
27	District Engineer	$	7,500	
28	Disclosure Report	$	5,000	
29	Trustees Fees	$	3,500	
30	Financial Consulting Services	$	3,600	
31	Accounting Services	$	15,500	
32	Auditing Services	$	3,400	
33	Arbitrage Rebate Calculation	$	500	
34	Public Officials Liability Insurance	$	2,200	
35	Legal Advertising	$	1,200	
36	Dues, Licenses & Fees	$	175	
37	Website Fees & Maintenance	$	840	
38	Assessment Roll	$	5,000	
39	Legal Counsel		
40	District Counsel	$	12,000	
41			
42	Administrative Subtotal	$	85,636	
43			
44	EXPENDITURES - FIELD OPERATIONS		
45			
46	Security Operations		
47	Security Camera Maintenance	$	2,500	
48	Guard & Gate Facility Maintenance	$	4,800	
49	Security Monitoring Services	$	10,000	
50	Electric Utility Services		
51	Utility Services	$	8,700	
52	Street Lights	$	61,200	
53	Stormwater Control		
54	Fountain Service Repairs & Maintenance	$	2,500	
55	Lake/Pond Bank Maintenance	$	15,000	
56	Aquatic Maintenance	$	12,408	
57	Mitigation Area Monitoring & Maintenance	$	16,300	
58	Aquatic Plant Replacement	$	5,000	
59	Other Physical Environment		
60	General Liability Insurance	$	2,722	
61	Property Insurance	$	1,656	
62	Landscape Maintenance	$	109,450	
63	Irrigation Repairs	$	12,000	
64	Landscape Replacement Plants, Shrubs, Trees	$	15,000	
65	Annual Mulching	$	23,100	
66	Annual Color Rotation	$	19,000	
67	Fertilizer including OTC inj	$	7,800	
68	Pest Control	$	2,000	
69	Entry & Walls Maintenance	$	4,000	
70	Field Management Services	$	6,000	
71	Holiday Decorations	$	2,000	
72	Well Maintenance	$	7,500	
73	Road & Street Facilities		
74	Gate Phone	$	1,650	
75	Parks & Recreation		

	Final Budget		
Cordoba Ranch Community Development District	
	General Fund		
	Fiscal Year 2016/2017		
	
Chart of Accounts Classification	
Budget for 2016/2017	
76	Wildlife Management Services	$	14,400	
77	Contingency		
78	Miscellaneous Contingency	$	15,000	
79			
80	Field Operations Subtotal	$	381,686	
81			
83			
84	TOTAL EXPENDITURES	$	467,322	
85			
86	EXCESS OF REVENUES OVER EXPENDITURES	$	-	
87			

Final Budget
Cordoba Ranch Community Development District Reserve Fund
Fiscal Year 2016/2017	
	
Chart of Accounts Classification	
Budget for 2016/2017	
1			
2	REVENUES		
3			
4	Special Assessments		
5	Tax Roll*	$	34,263	
6	Off Roll*	$	15,737	
7	Contributions & Donations from Private Sources		
8	Developer Contributions	$	-	
9	Owners Association	$	-	
10	Other Miscellaneous Revenues		
11	Miscellaneous Revenues	$	-	
12			
13	TOTAL REVENUES	$	50,000	
14			
15	Balance Forward from Prior Year	$	-	
16			
17	TOTAL REVENUES AND BALANCE FORWARD	$	50,000	
18			
19	*Allocation of assessments between the Tax Roll and Off Roll are	
20			
21	EXPENDITURES		
22			
23	Contingency		
24	Capital Reserves	$	50,000	
25	Capital Outlay	$	-	
26			
27	TOTAL EXPENDITURES	$	50,000	
28			
29	EXCESS OF REVENUES OVER EXPENDITURES	$	-	
30			

Final Budget
Cordoba Ranch Community Development District Debt Service
Fiscal Year 2016/2017

Chart of Accounts Classification	Series 2006	Budget for 2016/2017	
			
REVENUES			
Special Assessments			
Net Special Assessments	$600,537.48	$600,537.48	
			
TOTAL REVENUES	$600,537.48	$600,537.48	

EXPENDITURES			
Administrative			
Financial & Administrative			
Bank Fees		$0.00	
Debt Service Obligation	$600,537.48	$600,537.48	
Administrative Subtotal	$600,537.48	$600,537.48	
			
TOTAL EXPENDITURES	$600,537.48	$600,537.48	
			
EXCESS OF REVENUES OVER EXPENDITURES	$0.00	$0.00	

Collection and Discount % applicable to the county:	6.0%

Gross assessments	$638,869.66

Notes:
Tax Roll Collection Costs for Hillsborough County is 6.0% of Tax Roll. Budgeted net of tax roll assessments. See Assessment Table.

Debt Service assessments decreased by 2% due to Hillsborough County decrease in collection costs.

CORDOBA RANCH	

FISCAL YEAR 2016/2017 O&M & DEBT SERVICE ASSESSMENT SCHEDULE	
		TOTAL O&M BUDGET		$471,292.00								
		COLLECTION COSTS @	6.0%	 	$30,082.47 								
		TOTAL O&M ASSESSMENT		$501,374.47								

UNITS ASSESSED						

TOTAL				
				SERIES 2006	ALLOCATION OF O&M ASSESSMENT		SERIES 2006	PER LOT ANNUAL ASSESSMENT	
				DEBT		TOTAL	% TOTAL	TOTAL		DEBT SERVICE		DEBT		
	LOT SIZE	O&M		SERVICE (1)	EAU FACTOR	EAU's	EAU's	O&M BUDGET		ASSESSMENT	O&M (4)	SERVICE (2)(4)	TOTAL (3)(4)	
	Single Family	286		286	1.00	286.00	100.00%	$501,374.47		$638,869.66	$1,753.06	$2,233.81	$3,986.87	
	     286 		286		286.00	100.00%	$501,374.47		$638,869.66				
	LESS: Hillsborough County Collection Costs and Early Payment Discount Costs			($30,082.47)		($38,332.18)				
	Net Revenue to be Collected							$471,292.00		$600,537.48				

(1)	

Reflects the number of total lots with Series 2006 debt outstanding.									

(2)	Annual debt service assessment per lot adopted in connection with the Series 2006 bond issue. Annual assessment includes principal, interest, Hillsborough County collection costs and early payment discount costs.		

(3)	
Annual assessment that will appear on November 2016 Hillsborough County property tax bill. Amount shown includes all applicable collection costs. Property owner is eligible for a discount of up to 4% if paid early.		

(4)	
Operation & Maintenance and Debt Service assessments decreased by 2% due to Hillsborough County decrease in collection costs.				

Cordoba Ranch Community Development District	
FISCAL YEAR 2016/2017 O&M & DEBT SERVICE ASSESSMENT SCHEDULE	
	2016/2017 O&M Budget		$471,292.00			
	Hillsborough County 6% Collection Cost: (1)		 	$30,082.47				
	2016/2017 Total:	$501,374.47			
	
2015/2016 O&M Budget		
$448,489.00			
	2016/2017 O&M Budget		$471,292.00			
	Total Difference:	 	$22,803.00				

 	PER UNIT ANNUAL ASSESSMENT		

Proposed Increase / Decrease	
	2015/2016	2016/2017	$	%	
	Debt Service - Single Family	$2,282.37	$2,233.81	-$48.56	-2.13%	
	Operations/Maintenance - Single Family	$1,704.50	$1,753.06	$48.56	2.85%	
	Total	$3,986.87	$3,986.87	$0.00	0.00%	

(1)	

Operation & Maintenance and Debt Service assessments decreased by 2% due to Hillsborough County decrease in collection costs.