Storey Creek Community Development District

Amended Budget
FY 2020

Table of Contents

1

2-4

5

6

 	General Fund

 	General Fund Narrative

 	Debt Service Fund Series 2019

 	Amortization Schedule Series 2019

Storey Creek
Community Development District

Fiscal Year 2020 General Fund

	Adopted
Budget	
Increase/	Amended
Budget	Actuals
as of	
	FY2020*	(Decrease)	FY2020	9/30/20	

Revenues					
Developer Contributions	$87,800	$31,100	$118,900	$112,153	
Total Revenues	$87,800	$31,100	$118,900	$112,153	

Expenditures					
Administrative					
Supervisor Fees	$0	$400	$400	$400	
FICA Expense	$0	$31	$31	$31	
Engineering*	$12,000	($9,700)	$2,300	$2,294	
Attorney*	$25,000	($13,200)	$11,800	$11,784	
Dissemination	$0	$2,625	$2,625	$2,625	
Management Fees*	$35,000	$0	$35,000	$35,000	
Information Technology*	$1,200	$0	$1,200	$1,200	
Telephone*	$300	($275)	$25	$7	
Postage*	$1,000	($856)	$144	$116	
Insurance*	$5,500	($500)	$5,000	$5,000	
Printing & Binding*	$1,000	($500)	$500	$377	
Legal Advertising	$5,000	$0	$5,000	$4,742	
Other Current Charges*	$1,000	($750)	$250	$198	
Office Supplies*	$625	($575)	$50	$29	
Dues, Licenses & Subscriptions	$175	$0	$175	$175	
Field					

Electric	$0	$550	$550	$526	
Streetlights	$0	$26,750	$26,750	$26,716	
Water & Sewer	$0	$2,800	$2,800	$2,744	
Landscape Maintenance	$0	$10,000	$10,000	$9,956	
Lake Maintenance	$0	$4,000	$4,000	$3,935	
Irrigation Repairs	$0	$300	$300	$285	
Repairs & Maintenance	$0	$10,000	$10,000	$4,030	
Total Expenditures	$87,800	$31,100	$118,900	$112,168	
					
Excess Revenues/(Expenditures)	$0	$0	$0	($15)	

*FY19 Prorated amount represents 3 months of fiscal year.					

Storey Creek
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. No expense for this line item is anticipated at this time.

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, etc.

Attorney

The District's legal counsel will be providing general legal services to the District,
e.g. attendance and preparation for monthly meetings, preparation and review of agreements, resolutions, etc.

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.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services.

Storey Creek
Community Development District
GENERAL FUND BUDGET

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.

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.

Storey Creek
Community Development District
GENERAL FUND BUDGET

Field:

Electric

Represents cost of electric services for items such as monument, irrigation meters, etc. District currently has one account with Kissimmee Utility Authority.

Streetlights

Represents cost for streetlight services maintained by the District. The District currently has one account with Kissimmee Utility Authority with two or more areas to come online within the next fiscal year.

Water & Sewer

Represents cost for reclaimed services within the District. The District currently has one account with Toho Water Authority.

Landscape Maintenance

The District will maintain the landscaping within the common areas of the District after installation of landscape material has been completed. District currently has a contract with Frank Polly Sod, Inc. for this service.

Lake Maintenance

Represents costs to maintain one large stormwater pond. District currently has a contract with Applied Aquatic Management, Inc. for this service.

Irrigation Repairs

Represents estimated costs for any unforeseen irrigation repairs.

Repairs & Maintenance

Represents general repairs and maintenance costs that are not budgeted under any other budgeted line item.

Storey Creek
Community Development District

Fiscal Year 2020 Debt Service Series 2019

	Adopted
Budget		
Increase/	Amended
Budget	Actuals
as of	
	FY2020		(Decrease)	FY2020	9/30/20	

Revenues						
Assessments - Direct Billed		$0	$488,896	$488,896	$163,990 *	
Bond Proceeds		$0	$245,666	$245,666	$245,666	
Interest		$0	$93	$93	$93	
Transfer In		$0	$6,471	$6,471	$6,471	
Total Revenues		$0	$741,126	$741,126	$416,220	

Expenditures						
Interest - 6/15		$0	$163,990	$163,990	$163,990	
Total Expenditures		$0	$163,990	$163,990	$163,990	
						
Excess Revenues/(Expenditures)		$0	$577,136	$577,136	$252,230	

*Actual does not reflect 11/15/20 direct billed amount						

Storey Creek
Series 2019, Special Assessment Bonds (Area One Project) (Term Bonds Combined)

Amortization Schedule

Date	Balance	Principal	Interest	Annual

6/15/20	$ 8,445,000	$	
12/15/20	$ 8,445,000	$	
6/15/21	$ 8,285,000	$	
12/15/21	$ 8,285,000	$	
6/15/22	$ 8,120,000	$	
12/15/22	$ 8,120,000	$	
6/15/23	$ 7,950,000	$	
12/15/23	$ 7,950,000	$	
6/15/24	$ 7,775,000	$	
12/15/24	$ 7,775,000	$	
6/15/25	$ 7,595,000	$	
12/15/25	$ 7,595,000	$	
6/15/26	$ 7,410,000	$	
12/15/26	$ 7,410,000	$	
6/15/27	$ 7,220,000	$	
12/15/27	$ 7,220,000	$	
6/15/28	$ 7,020,000	$	
12/15/28	$ 7,020,000	$	
6/15/29	$ 6,815,000	$	
12/15/29	$ 6,815,000	$	
6/15/30	$ 6,600,000	$	
12/15/30	$ 6,600,000	$	
6/15/31	$ 6,380,000	$	
12/15/31	$ 6,380,000	$	
6/15/32	$ 6,150,000	$	
12/15/32	$ 6,150,000	$	
6/15/33	$ 5,910,000	$	
12/15/33	$ 5,910,000	$	
6/15/34	$ 5,660,000	$	
12/15/34	$ 5,660,000	$	
6/15/35	$ 5,400,000	$	
12/15/35	$ 5,400,000	$	
6/15/36	$ 5,130,000	$	
12/15/36	$ 5,130,000	$	
6/15/37	$ 4,850,000	$	
12/15/37	$ 4,850,000	$	
6/15/38	$ 4,560,000	$	
12/15/38	$ 4,560,000	$	
6/15/39	$ 4,260,000	$	
12/15/39	$ 4,260,000	$	
6/15/40	$ 3,945,000	$	
12/15/40	$ 3,945,000	$	
6/15/41	$ 3,620,000	$	
12/15/41	$ 3,620,000	$	
6/15/42	$ 3,280,000	$	
12/15/42	$ 3,280,000	$	
6/15/43	$ 2,925,000	$	
12/15/43	$ 2,925,000	$	
6/15/44	$ 2,555,000	$	
12/15/44	$ 2,555,000	$	
6/15/45	$ 2,170,000	$	
12/15/45	$ 2,170,000	$	
6/15/46	$ 1,770,000	$	
12/15/46	$ 1,770,000	$	
6/15/47	$ 1,355,000	$	
12/15/47	$ 1,355,000	$	
6/15/48	$	920,000	$	
12/15/48	$	920,000	$	
6/15/49	$	470,000	$	
12/15/49

Totals	$	470,000	$

$	

-	$
160,000    $
-	$
165,000    $
-	$
170,000    $
-	$
175,000    $
-	$
180,000    $
-	$
185,000    $
-	$
190,000    $
-	$
200,000    $
-	$
205,000    $
-	$
215,000    $
-	$
220,000    $
-	$
230,000    $
-	$
240,000    $
-	$
250,000    $
-	$
260,000    $
-	$
270,000    $
-	$
280,000    $
-	$
290,000    $
-	$
300,000    $
-	$
315,000    $
-	$
325,000    $
-	$
340,000    $
-	$
355,000    $
-	$
370,000    $
-	$
385,000    $
-	$
400,000    $
-	$
415,000    $
-	$
435,000    $
-	$
450,000    $
-	$
470,000    $

163,990.10    $
164,906.25    $
162,406.25    $
162,406.25    $
159,828.13    $
159,828.13    $
157,171.88    $
157,171.88    $
154,437.50    $
154,437.50    $
151,625.00    $
151,625.00    $
148,734.38    $
148,734.38    $
145,290.63    $
145,290.63    $
141,665.63    $
141,665.63    $
137,950.00    $
137,950.00    $
134,053.13    $
134,053.13    $
130,065.63    $
130,065.63    $
125,465.63    $
125,465.63    $
120,665.63    $
120,665.63    $
115,665.63    $
115,665.63    $
110,465.63    $
110,465.63    $
105,065.63    $
105,065.63    $
99,465.63    $
99,465.63    $
93,665.63    $
93,665.63    $
87,665.63    $
87,665.63    $
81,365.63    $
81,365.63    $
74,662.50    $
74,662.50    $
67,650.00    $
67,650.00    $
60,328.13    $
60,328.13    $
52,696.88    $
52,696.88    $
44,756.25    $
44,756.25    $
36,506.25    $
36,506.25    $
27,946.88    $
27,946.88    $
18,975.00    $
18,975.00    $
9,693.75    $
9,693.75    $

- 488,896.35
- 489,812.50
- 489,656.25
- 489,343.75
- 488,875.00
- 488,250.00
- 487,468.75
- 490,581.25
- 488,331.25
- 490,900.00
- 488,106.25
- 490,131.25
- 490,931.25
- 491,331.25
- 491,331.25
- 490,931.25
- 490,131.25
- 488,931.25
- 487,331.25
- 490,331.25
- 487,731.25
- 489,325.00
- 490,300.00
- 490,656.25
- 490,393.75
- 489,512.50
- 488,012.50
- 490,893.75
- 487,950.00
- 489,387.50

8,445,000    $	6,240,765 $ 14,685,765.10