Tohoqua
Community Development District

Adopted Budget
FY 2021

Table of Contents

1-2

3-10

11

12

13-14

 	General Fund

 	General Fund Narrative

 	Capital Reserve Fund

 	Debt Service Fund Series 2018

 	Amortization Schedule Series 2018

	Adopted
Budget	Actual
thru	Projected
Next 3	Total
thru	Adopted
Budget	
Description	FY2020	6/30/20	Months	9/30/20	FY2021	

Revenues						
Developer Contributions	$624,018	$0	$90,221	$90,221	$699,813	
Assessments - Tax Collector (Platted)	$228,349	$228,671	$0	$228,671	$228,349	
Assessments - Direct (Unplatted)	$107,047	$107,047	$0	$107,047	$115,755	
Special Events Revenue	$0	$0	$2,500	$2,500	$12,000	
Total Revenues	$959,413	$335,718	$92,721	$428,438	$1,055,916	

Expenditures						
Administrative
Supervisor Fees	
$9,600	
$800	
$2,400	
$3,200	
$9,600	
FICA Expense	$734	$61	$180	$241	$734	
Engineering	$12,000	$1,586	$3,000	$4,586	$12,000	
Attorney	$25,000	$6,096	$6,250	$12,346	$25,000	
Annual Audit	$3,500	$3,300	$0	$3,300	$3,500	
Assessment Administration	$5,000	$5,000	$0	$5,000	$5,000	
Arbitrage	$600	$0	$450	$450	$1,200	
Dissemination	$5,000	$3,750	$1,250	$5,000	$10,000	
Trustee Fees	$3,717	$3,717	$0	$3,717	$7,435	
Management Fees	$36,050	$27,038	$9,013	$36,050	$36,050	
Information Technology	$2,400	$900	$300	$1,200	$2,400	
Telephone	$300	$0	$75	$75	$300	
Postage	$1,000	$195	$250	$445	$1,000	
Insurance	$5,500	$5,125	$0	$5,125	$5,700	
Printing & Binding	$1,000	$180	$250	$430	$1,000	
Legal Advertising	$3,800	$1,433	$2,367	$3,800	$3,800	
Other Current Charges	$1,000	$155	$250	$405	$1,000	
Office Supplies	$625	$30	$156	$186	$625	
Dues, Licenses & Subscriptions	$175	$175	$0	$175	$175	
Total Administrative:	$117,001	$59,541	$26,191	$85,732	$126,519	

Operations & Maintenance						
Contract Services						
Field Management	$20,000	$15,000	$5,000	$20,000	$20,000	
Amenities Management	$75,000	$16,760	$9,000	$25,760	$36,000	
Landscape Maintenance	$350,000	$79,380	$31,691	$111,071	$350,000	
Lake Maintenance	$16,200	$8,120	$4,050	$12,170	$28,080	
Wetland Maintenance	$5,000	$0	$1,600	$1,600	$6,400	
Wetland Mitigation Reporting	$6,000	$0	$6,500	$6,500	$26,000	
Pool Maintenance	$12,500	$0	$5,000	$5,000	$20,000	
Pest Control	$600	$0	$280	$280	$780	
Janitorial Services	$12,500	$0	$8,775	$8,775	$35,100	
Subtotal:	$497,800	$119,260	$71,896	$191,157	$522,360	

Repairs & Maintenance						
Landscape Replacement	$25,000	$6,720	$6,250	$12,970	$25,000	
Irrigation Repairs	$2,000	$0	$500	$500	$3,000	
Stormwater Inspections	$0	$0	$3,600	$3,600	$14,400	
General Repairs & Maintenance	$1,000	$3,375	$250	$3,625	$10,000	
Operating Supplies	$1,000	$0	$250	$250	$5,000	
Road & Sidewalk Maintenance	$1,500	$0	$375	$375	$3,000	
Signage	$250	$201	$63	$263	$250	
Walls - Repair/Cleaning	$1,500	$0	$375	$375	$1,500	
Fencing	$250	$0	$63	$63	$250	
Subtotal:	$32,500	$10,296	$11,725	$22,021	$62,400	
1

	Adopted
Budget	Actual
thru	Projected
Next 3	Total
thru	Adopted
Budget	
Description	FY2020	6/30/20	Months	9/30/20	FY2021	

Utilities						
Pool - Electric	$15,000	$0	$3,750	$3,750	$15,000	
Pool - Water	$600	$0	$150	$150	$600	
Electric	$10,000	$132	$2,500	$2,632	$10,000	
Water & Sewer	$57,500	$11,279	$14,375	$25,654	$57,500	
Streetlights	$75,000	$12,416	$18,750	$31,166	$75,000	
Gas	$6,000	$0	$1,500	$1,500	$6,000	
Subtotal:	$164,100	$23,827	$41,025	$64,852	$164,100	

Amenities						
Property Insurance	$20,000	$1,820	$10,000	$11,820	$20,000	
Pool Attendants	$12,500	$0	$3,125	$3,125	$12,500	
Security Patrol	$0	$0	$0	$0	$30,000	
Pool Repairs & Maintenance	$9,000	$0	$2,250	$2,250	$9,000	
Pool Permits	$750	$0	$325	$325	$325	
Trash Collection	$6,000	$0	$1,500	$1,500	$6,000	
Telephone	$1,250	$0	$313	$313	$1,250	
Cable/Internet	$3,750	$0	$938	$938	$3,750	
Access Cards & Equipment Supplies	$1,250	$0	$1,000	$1,000	$4,000	
Fire Alarm & Security Monitoring	$17,500	$0	$250	$250	$1,000	
Fire Alarm & Security Monitoring Repairs	$0	$0	$750	$750	$3,000	
Fire Extinguisher Inspections	$0	$0	$38	$38	$150	
Amenity Signage	$0	$0	$500	$500	$2,000	
Repairs & Maintenance	$17,500	$0	$4,375	$4,375	$17,500	
Office Supplies	$2,500	$0	$625	$625	$2,500	
Special Events	$12,500	$9,191	$3,000	$12,191	$12,000	
Termite Bond	$750	$0	$2,082	$2,082	$300	
Holiday Décor	$2,500	$1,085	$0	$1,085	$15,000	
Subtotal:	$107,750	$12,096	$31,070	$43,166	$140,275	
Other						
Contingency	$25,000	$0	$6,250	$6,250	$25,000	
Capital Reserve	$15,262	$0	$15,262	$15,262	$15,262	
Subtotal:	$40,262	$0	$21,512	$21,512	$40,262	
						
Total Operations & Maintenance:	$842,412	$165,479	$177,228	$342,707	$929,397	
						
Total Expenditures	$959,413	$225,019	$203,419	$428,438	$1,055,916	
						
Excess Revenues/(Expenditures)	$0	$110,698	($110,698)	$0	$0	

Assessment
Land Use	Per Unit	Developed
Units	Gross
Assessment*	Net
Assessment	

Commercial**	
$228.00	
0	
$0.00	
$0.00	
Hotel**	$228.00	0	$0.00	$0.00	
Apartements**	$228.00	0	$0.00	$0.00	
Townhome	$498.00	101	$50,298.00	$47,280.12	
Duplex/Garden	$498.00	0	$0.00	$0.00	
32	$584.00	0	$0.00	$0.00	
40	$730.00	69	$50,370.00	$47,347.80	
45	$822.00	97	$79,734.00	$74,949.96	
50	$913.00	0	$0.00	$0.00	
55	$1,004.00	61	$61,244.00	$57,569.36	
65	$1,187.00	0	$0.00	$0.00	
70	$1,278.00	1	$1,278.00	$1,201.32	
Totals		329	$242,924.00	$228,348.56	
*Includes 6% for early payment  discount  and collection cost.	**Per unit is 25% of Single Family 50' since they will have their own amenity
***Net  of 6% for early payment discount and  collection cost.	facilities
2

REVENUES:

Developer Contributions

The District will enter into a Funding Agreement with the Developer to Fund the General Fund expenditures for the Fiscal Year.

Assessments

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 Events Revenue

Represents fees collected by the onsite management company related to various special events operated by the District.

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 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 monthly meetings, preparation for Board meetings, preparation and review of agreements, resolutions, and other research 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 is currently contracted with Grau & Associates.

Assessment Administration

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 the Series 2018 Special Assessment Revenue Bonds and the anticipated bond issuance for the Phase 2 project.

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.

Trustee Fees

The District issued Series 2018 Special Assessment Revenue Bonds that are deposited with a Trustee at USBank. The projected fees also include the anticipated bond issuance for the Phase 2 project.

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 related to 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.

Operations & Maintenance:

Contract Services:
Field Management

Represents the estimated costs of onsite field management of contracts for the District such as landscape and lake maintenance. Services to include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Amenities Management

The District has contracted with Community Association and Lifestyle Management, LLC to provide amenity center management services, amenity operations services and programming services.

Landscape Maintenance

Represents the estimated maintenance of the landscaping within the common areas of the District after the installation of landscape material has been completed. The District is currently contracted with Earth Tec for these services.

Lake Maintenance

Represents estimated costs for maintenance to all lakes the District must maintain within District boundaries. The District is currently contracted with Applied Aquatic Management for these services.

Wetland Maintenance

The District will incur costs related to maintaining wetlands located throughout the District.

Wetland Mitigation Monitoring

The District will incur costs for scheduled monitoring of mitigation areas located throughout the District. The amounts are estimated.

Pool Maintenance

Represents estimated costs of regular cleaning and treatments of the pools within the District.

Pest Services

The District will incur costs for pest control treatments to its amenity facilities.

Janitorial Services

Represents estimated costs to provide janitorial services and supplies for the District’s amenity facilities.

Repairs & Maintenance
Landscape Replacement

Represents estimated costs related to the replacement of any landscaping needed throughout the fiscal year.

Irrigation Repairs

The District will incur costs related to repairing and maintaining its irrigation systems. The amount is based on estimated costs.

Stormwater Inspections

Represents the estimated costs of inspecting the stormwater systems on a monthly basis.

General Repairs & Maintenance

Represents estimated costs for the general repairs and maintenance of various facilities throughout the District.

Operating Supplies

Represents estimated costs of supplies purchased for operating and maintaining common areas.

Road & Sidewalk Maintenance

The District will incur costs related to maintaining the roads and sidewalks within its boundaries. The amount is estimated.

Signage

Represents estimated costs to replace miscellaneous signs throughout the fiscal year.

Walls – Repair/Cleaning

Represents estimated costs of repairing and cleaning walls maintained by the District.

Fencing

Represents estimated costs for maintaining fences during the fiscal year.

Utilities:
Pool - Electric

Represents estimated electric charges for the District’s pool.

Pool – Water

Represents estimated water charges for the District’s pool.

Electric

Represents estimated electric charges of common areas throughout the District.

Water & Sewer

Represents estimated costs for water and refuse services provided for common areas throughout the District.

Streetlights

Represents the cost to maintain street lights within the District Boundaries that are expected to be in place throughout the fiscal year.

Gas

Represents estimated gas services provided at the amenity facilities.

Amenities:
Property Insurance

The District will incur fees to insure items owned by the District for its property needs. Coverage is provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage for government agencies.

Pool Attendants

Represents the estimated cost of having pool attendants during certain times throughout the operating season for the pool.

Security Patrol

The District will contract with a vendor to provide security services throughout the fiscal year.

Pool Repairs & Maintenance

Estimated miscellaneous pool maintenance costs not included under the District’s regular pool agreement.

Pool Permits

Represents annual costs of required pool permits paid to the Florida Department of Health.

Trash Collection

Represents estimated trash removal services.

Telephone

Represents the estimated operating telephone costs incurred by the District.

Cable/Internet

Represents the estimated cost of providing cable and internet services to the District’s amenities.

Access Cards & Equipment Supplies

Represents the estimated cost for providing and maintaining an access card system.

Fire Alarm & Security Monitoring

Represents estimated costs of maintaining fire alarm and security systems for the amenity facilities within the District.

Fire Alarm & Security Monitoring Repairs

Represents estimated costs of maintaining and repairing the fire alarm and security systems.

Fire Extinguisher Inspections

Represents the annual cost of inspecting the fire extinguishers.

Amenity Signage

Represents estimated costs to obtain amenity signage necessary throughout the fiscal year.

Repairs & Maintenance

Represents estimated costs for general repairs and maintenance of the District’s amenities.

Office Supplies

Represents the cost of daily office supplies required by the District to facilitate operations.

Special Events

The onsite management company for the District will coordinate and provide various special events throughout the year. The amount represents estimated costs related to supplies, notices and other items to run these events.

Termite Bond

The District will incur annual fees for the termite bonds of its amenity facilities.

Holiday Décor

The District will incur costs related to the decoration of common areas during the Holidays.

Other:
Contingency

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

Capital Reserve

The District will fund an annual amount for future cost related to replacement and repair of capital assets of the District. Upon completion, the District may have a Capital Reserve study prepared to ensure annually funding levels are sufficient.

Community Development District
Adopted Budget Capital Reserve Fund Fiscal Year 2021

	Adopted
Budget	Actual
thru		Projected
Next 3	Total
thru	Adopted
Budget	
Description	FY2020	6/30/20		Months	9/30/20	FY2021	

Revenues							
Transfer In	$15,262		$0	$15,262	$15,262	$15,262	
Carry Forward Surplus	$0		$0	$0	$0	$15,262	
Total Revenues	$15,262		$0	$15,262	$15,262	$30,524	

Expenditures							
Capital Outlay	$0		$0	$0	$0	$0	
Total Expenditures	$0		$0	$0	$0	$0	
							
Excess Revenues/(Expenditures)	$15,262		$0	$15,262	$15,262	$30,524	

Community Development District
Adopted Budget Debt Service Fund Fiscal Year 2021

	Adopted
Budget	Actual
thru	Projected
Next 3	Total
thru	Adopted
Budget	
Description	FY2020	6/30/20	Months	9/30/20	FY2021	

Revenues						
Special Assessments	$137,458	$137,647	$0	$137,647	$137,458	
Interest	$0	$108	$20	$128	$0	
Carry Forward Surplus	$61,193	$61,619	$0	$61,619	$63,209	
Total Revenues	$198,651	$199,374	$20	$199,394	$200,667	

Expenditures						
Interest Payment - 11/01	$50,593	$50,593	$0	$50,593	$49,770	
Principal Payment - 05/01	$35,000	$35,000	$0	$35,000	$35,000	
Interest Payment - 05/01	$50,593	$50,593	$0	$50,593	$49,770	
Total Expenditures	$136,185	$136,185	$0	$136,185	$134,540	
						
Excess Revenues/(Expenditures)	$62,466	$63,189	$20	$63,209	$66,127	

1. Carry forward surplus is net of Reserves.

    Interest 11/1/21	$48,948	

Net Assessments	$137,458
Add: Discounts & Collection 	$8,774 
Gross Assessments 	$146,232 

Product Type	

No. of Units	
Annual Debt Service	Per Unit Net Debt
Assessment	Per Unit
Gross Debt Assessment	
Townhouse	101	$28,482	$282	$300	
Single-Family 40'	69	$28,509	$413	$440	
Single-Family 45'	97	$45,088.51	$465	$495	
Single-Family 55'	61	$34,655	$568	$604	
Single-Family 70'	1	$723	$723	$769	
	329	$137,458			

Date

Balance

Principal

Interest

Annual

11/1/20	$ 2,095,000	$	-	$	49,770	$	135,363	
5/1/21	$ 2,095,000	$	35,000	$	49,770	$	-	
11/1/21	$ 2,060,000	$	-	$	48,948	$	133,718	
5/1/22	$ 2,060,000	$	40,000	$	48,948	$	-	
11/1/22	$ 2,020,000	$	-	$	48,008	$	136,955	
5/1/23	$ 2,020,000	$	40,000	$	48,008	$	-	
11/1/23	$ 1,980,000	$	-	$	47,068	$	135,075	
5/1/24	$ 1,980,000	$	45,000	$	47,068	$	-	
11/1/24	$ 1,935,000	$	-	$	46,010	$	138,078	
5/1/25	$ 1,935,000	$	45,000	$	46,010	$	-	
11/1/25	$ 1,890,000	$	-	$	44,953	$	135,963	
5/1/26	$ 1,890,000	$	45,000	$	44,953	$	-	
11/1/26	$ 1,845,000	$	-	$	43,895	$	133,848	
5/1/27	$ 1,845,000	$	50,000	$	43,895	$	-	
11/1/27	$ 1,795,000	$	-	$	42,720	$	136,615	
5/1/28	$ 1,795,000	$	50,000	$	42,720	$	-	
11/1/28	$ 1,745,000	$	-	$	41,545	$	134,265	
5/1/29	$ 1,745,000	$	55,000	$	41,545	$	-	
11/1/29	$ 1,690,000	$	-	$	40,253	$	136,798	
5/1/30	$ 1,690,000	$	55,000	$	40,253	$	-	
11/1/30	$ 1,635,000	$	-	$	38,960	$	134,213	
5/1/31	$ 1,635,000	$	60,000	$	38,960	$	-	
11/1/31	$ 1,575,000	$	-	$	37,550	$	136,510	
5/1/32	$ 1,575,000	$	60,000	$	37,550	$	-	
11/1/32	$ 1,515,000	$	-	$	36,140	$	133,690	
5/1/33	$ 1,515,000	$	65,000	$	36,140	$	-	
11/1/33	$ 1,450,000	$	-	$	34,613	$	135,753	
5/1/34	$ 1,450,000	$	70,000	$	34,613	$	-	
11/1/34	$ 1,380,000	$	-	$	32,968	$	137,580	
5/1/35	$ 1,380,000	$	70,000	$	32,968	$	-	
11/1/35	$ 1,310,000	$	-	$	31,323	$	134,290	
5/1/36	$ 1,310,000	$	75,000	$	31,323	$	-	
11/1/36	$ 1,235,000	$	-	$	29,560	$	135,883	
5/1/37	$ 1,235,000	$	80,000	$	29,560	$	-	
11/1/37	$ 1,155,000	$	-	$	27,680	$	137,240	

Date	Balance	Principal	Interest	Annual	

5/1/38	
$ 1,155,000	
$	80,000	
$	27,680	
$	-	
11/1/38	$ 1,075,000	$	-	$	25,800	$	133,480	
5/1/39	$ 1,075,000	$	85,000	$	25,800	$	-	
11/1/39	$	990,000	$	-	$	23,760	$	134,560	
5/1/40	$	990,000	$	90,000	$	23,760	$	-	
11/1/40	$	900,000	$	-	$	21,600	$	135,360	
5/1/41	$	900,000	$	95,000	$	21,600	$	-	
11/1/41	$	805,000	$	-	$	19,320	$	135,920	
5/1/42	$	805,000	$	100,000	$	19,320	$	-	
11/1/42	$	705,000	$	-	$	16,920	$	136,240	
5/1/43	$	705,000	$	105,000	$	16,920	$	-	
11/1/43	$	600,000	$	-	$	14,400	$	136,320	
5/1/44	$	600,000	$	110,000	$	14,400	$	-	
11/1/44	$	490,000	$	-	$	11,760	$	136,160	
5/1/45	$	490,000	$	115,000	$	11,760	$	-	
11/1/45	$	375,000	$	-	$	9,000	$	135,760	
5/1/46	$	375,000	$	120,000	$	9,000	$	-	
11/1/46	$	255,000	$	-	$	6,120	$	135,120	
5/1/47	$	255,000	$	125,000	$	6,120	$	-	
11/1/47	$	130,000	$	-	$	3,120	$	134,240	
5/1/48	$	130,000	$	130,000	$	3,120	$	-	
11/1/48	$	-	$	-	$	-	$	133,120	
Totals	$ 2,095,000	$ 1,747,520	$	3,928,113