Cypress Park Estates
Community Development District

Proposed Budget
FY 2021

Table of Contents

1	 	General Fund

2-4	 	General Fund Narrative

Cypress Park Estates
Community Development District
Proposed Budget General Fund

	Adopted
Budget	Actuals
Thru	Projected
Next	Projected
Thru	Proposed
Budget	
Description	FY2020	4/30/20	5 Months	9/30/20	FY2021	

Revenues						
Developer Contributions	$98,404	$56,706	$41,698	$98,404	$183,686	
Total Revenues	$98,404	$56,706	$41,698	$98,404	$183,686	

Expenditures						
Administrative
Supervisor Fees	
$10,000	
$600	
$5,000	
$5,600	
$10,000	
Engineer Fees	$12,500	$0	$6,250	$6,250	$15,000	
Attorney Fees	$20,833	$8,501	$6,500	$15,001	$25,000	
Management Fees	$29,167	$7,809	$21,358	$29,167	$35,000	
Information Technology	$3,575	$0	$3,775	$3,775	$2,650	
Telephone	$250	$0	$50	$50	$250	
Postage & Delivery	$833	$58	$67	$125	$500	
Insurance	$5,000	$3,740	$0	$3,740	$5,000	
Printing & Binding	$833	$67	$57	$124	$500	
Legal Advertising	$10,000	$9,415	$585	$10,000	$10,000	
Other Current Charges	$4,167	$0	$1,500	$1,500	$1,500	
Office Supplies	$521	$43	$37	$80	$521	
Travel Per Diem	$550	$0	$0	$0	$550	
Dues, Licenses & Subscriptions	$175	$150	$0	$150	$175	
Total Administrative	$98,404	$30,384	$45,178	$75,562	$106,646	

Operations & Maintenance
Field Services						
Property Insurance	$0	$0	$0	$0	$5,000	
Field Management	$0	$0	$0	$0	$15,000	
Landscape Maintenance	$0	$0	$0	$0	$26,880	
Landscape Replacement	$0	$0	$0	$0	$2,500	
Fertilization	$0	$0	$0	$0	$1,560	
Streetlights	$0	$0	$0	$0	$12,600	
Electric	$0	$0	$0	$0	$2,000	
Water & Sewer	$0	$0	$0	$0	$1,000	
Sidewalk & Asphalt Maintenance	$0	$0	$0	$0	$500	
Irrigation Repairs	$0	$0	$0	$0	$2,500	
General Repairs & Maintenance	$0	$0	$0	$0	$5,000	
Contingency	$0	$0	$0	$0	$2,500	
Subtotal Field Expenses	$0	$0	$0	$0	$77,040	
						
Total Operations & Maintenance	$0	$0	$0	$0	$77,040	
						
Total Expenditures	$98,404	$30,384	$45,178	$75,562	$183,686	
						
Excess Revenues/(Expenditures)	$0	$26,323	($3,481)	$22,842	$0	

1

Cypress Park Estates
Community Development District
GENERAL FUND BUDGET

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:

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.

Management Fees

The District will incur costs for Management, Accounting and Administrative services during the Fiscal Year.

Information Technology

Represents costs related to the District’s accounting and information systems, District’s website creation and maintenance, electronic compliance with Florida Statutes and other electronic data requirements.

Description	Annually	
Information Technology		
Website Maintenance (GMS)	$1,200	
Website Hosting (GMS)	$250	
ADA Human Audit (VGlobalTech)	$1,200	
Total	$2,650	

Telephone

Telephone and fax machine.

Postage

The District incurs charges for mailing of Board meeting agenda packages, overnight deliveries, correspondence, etc.
Page2

Cypress Park Estates
Community Development District
GENERAL FUND BUDGET

Insurance

The District’s general liability, public official’s liability insurance 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

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:

Field Expenses

Property Insurance

The District’s property insurance coverages.

Field Management

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

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.

Page 3

Cypress Park Estates
Community Development District
GENERAL FUND BUDGET

Landscape Replacement

Represents the estimated cost of replacing landscaping within the common areas of the District.

Fertilization

Represents the estimated cost of fertilizing the common areas of the District. This is based on an estimated cost for annuals and mulching.

Streetlights

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

Electric

Represents current and estimated electric charges of common areas throughout the District.

Water & Sewer

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

Sidewalk & Asphalt Maintenance

Represents the estimated costs of maintaining the sidewalks and asphalt throughout the District’s Boundary.

Irrigation Repairs

Represents the cost of maintaining and repairing the irrigation system. This includes the sprinklers, and irrigation wells.

General Repairs & Maintenance

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

Contingency

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

Page 4