Lake Deer
Community Development District

Adopted Budget
FY2023

Table of Contents

1		General Fund

2-4		General Fund Narrative
Lake Deer
Community Development District Adopted Budget
General Fund

Adopted Budget
Description	FY2022	Actuals Thru
6/30/22	Projected Next
3 Months	Projected Thru
9/30/22	Adopted Budget
FY2023							

Revenues											
Developer Contributions	$	131,810	$	75,000	$	20,000	$	95,000	$	238,625						
Total Revenues	$	131,810	$	75,000	$	20,000	$	95,000	$	238,625						

Expenditures											
General & Administrative
Supervisor Fees	
$	12,000	
$	4,200	
$	3,000	
$	7,200	
$	12,000						
Engineering	$	15,000	$	3,620	$	3,750	$	7,370	$	15,000						
Attorney	$	25,000	$	8,655	$	6,250	$	14,905	$	25,000						
Annual Audit	$	4,000	$	3,200	$	-	$	3,200	$	4,000						
Assessment Administration	$	5,000	$	-	$	-	$	-	$	5,000						
Arbitrage	$	450	$	-	$	-	$	-	$	450						
Dissemination	$	5,000	$	-	$	-	$	-	$	5,000						
Trustee Fees	$	3,600	$	-	$	-	$	-	$	4,000						
Management Fees	$	35,000	$	26,250	$	8,750	$	35,000	$	36,750						
Information Technology	$	1,800	$	1,350	$	450	$	1,800	$	1,800						
Website Maintenance	$	1,200	$	900	$	300	$	1,200	$	1,200						
Telephone	$	300	$	-	$	-	$	-	$	-						
Postage & Delivery	$	1,000	$	23	$	250	$	273	$	1,000						
Insurance	$	5,000	$	5,000	$	-	$	5,000	$	5,625						
Copies	$	1,000	$	16	$	250	$	266	$	1,000						
Legal Advertising	$	10,000	$	5,732	$	6,000	$	11,732	$	15,000						
Other Current Charges	$	5,000	$	60	$	1,250	$	1,310	$	5,000						
Office Supplies	$	625	$	-	$	156	$	156	$	625						
Travel Per Diem	$	660	$	-	$	-	$	-	$	-						
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175						
Total General & Administrative	$	131,810	$	59,181	$	30,406	$	89,587	$	138,625	

Operations & Maintenance
Playground Lease	

$	

-	

$	

-	

$	

-	

$	

-	

$	

25,000	
Field Contingency	$	-	$	-	$	-	$	-	$	75,000	
Total Operations & Maintenance	$	-	$	-	$	-	$	-	$	100,000	
											
Total Expenditures	$	131,810	$	59,181	$	30,406	$	89,587	$	238,625	
											
Excess Revenues/(Expenditures)	$	-	$	15,819	$	(10,406)	$	5,413	$	-	

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:

General & 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.

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 and various projects as directed by the Board of Supervisors and the District Manager.

Attorney

The District's legal counsel will be providing general legal services to the District, e.g. attendance and preparation for meetings, preparation and review of agreements, resolutions, etc. as directed by the Board of Supervisors and the District Manager.

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 an agreement with Grau & Associates.

Assessment Administration

With Governmental Management Services – Central Florida, LLC, the District will contract to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on an anticipated bond issuance.

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. This cost is based upon an anticipated bond issuance with Governmental Management Services – Central Florida, LLC.

Trustee Fees

The District will incur trustee related costs with the issuance of its’ issued bonds.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-Central Florida, LLC. The services include but are not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reports, annual audits, etc.

Information Technology

Represents costs with Governmental Management Services – Central Florida, LLC 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 with Governmental Management Services – Central Florida, LLC associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. 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 & Delivery

The District incurs charges for mailing of Board meeting agenda packages, overnight deliveries, correspondence, etc.

Insurance

The District’s general liability and public official’s liability insurance coverages.

Copies

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

Any supplies that may need to be purchased during the fiscal year, e.g., paper, minute books, file folders, labels, paper clips, etc.

Travel Per Diem

The Board of Supervisors can be reimbursed for travel expenditures related to the conducting of District business.

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.

Operations & Maintenance:

Playground Lease

The District will enter into a leasing agreement for playgrounds installed in the community.

Field Contingency

Represents funds allocated to expenditures that the District could incur throughout the fiscal year that do not fit into any field category.