Scenic Terrace North
Community Development District

Adopted Budget
FY 2024

Table of Contents

1		General Fund

2-4		General Fund Narrative

Scenic Terrace North
Community Development District Adopted Budget
General Fund

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2023	5/31/23	4 Months	9/30/23	FY2024	

Revenues						
Developer Contributions	$	258,666	$	50,000	$	34,145	$	84,145	$	233,954	
Boundary Amendment Contribution	$	-	$	6,493	$	5,561	$	12,054	$	-	
Total Revenues	$	258,666	$	56,493	$	39,706	$	96,199	$	233,954	

Expenditures						
General & Administrative						
Supervisor Fees	$	12,000	$	2,800	$	4,000	$	6,800	$	12,000	
Engineering	$	15,000	$	1,625	$	5,000	$	6,625	$	15,000	
Attorney	$	25,000	$	5,252	$	8,333	$	13,586	$	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	$	4,041	$	-	$	-	$	-	$	4,041	
Management Fees	$	36,750	$	24,500	$	12,250	$	36,750	$	36,750	
Information Technology	$	1,800	$	1,200	$	600	$	1,800	$	1,800	
Website Maintenance	$	1,200	$	800	$	400	$	1,200	$	1,200	
Postage & Delivery	$	1,000	$	103	$	333	$	437	$	1,000	
Insurance	$	5,625	$	5,375	$	-	$	5,375	$	5,913	
Printing & Binding	$	1,000	$	-	$	333	$	333	$	1,000	
Legal Advertising	$	10,000	$	4,792	$	1,183	$	5,975	$	10,000	
Other Current Charges	$	5,000	$	-	$	1,667	$	1,667	$	5,000	
Boundary Amendment Expenses	$	-	$	6,108	$	5,946	$	12,054	$	-	
Office Supplies	$	625	$	14	$	208	$	223	$	625	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total General & Administrative:	$	133,666	$	52,744	$	43,455	$	96,199	$	133,954	

Operations & Maintenance						
Playground Lease	$	25,000	$	-	$	-	$	-	$	25,000	
Field Contingency	$	100,000	$	-	$	-	$	-	$	75,000	
Total Operations & Maintenance:	$	125,000	$	-	$	-	$	-	$	100,000	
						
Total Expenditures	$	258,666	$	52,744	$	43,455	$	96,199	$	233,954	
						
Excess Revenues/(Expenditures)	$	-	$	3,748	$	(3,748)	$	-	$	-	

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 Dewberry provides 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 Kilinski Van Wyk, Pllc provides 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. The District has contract with KE Law Group, PLLC.

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis.

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 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.

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 various cost of information technology for the District such as video conferencing, cloud storage and servers, positive pay implementation and programming for fraud protection, accounting software, tablets for meetings, Adobe, Microsoft Office, etc. Governmental Management Services – Central Florida, LLC provides these services.

Website Maintenance

Represents the costs 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. Governmental Management Services – Central Florida, LLC provides these services.

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.

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. Governmental Management Services – Central Florida, LLC provides these services.

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.

Operation and Maintenance:

Playground lease

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

Field Contingency

Represents any additional field expense that may not have been provided for in the budget.