Beeline
Community Development District

Final Budget For Fiscal Year 2018/2019
October 1, 2018 - September 30, 2019

CONTENTS

FINAL BUDGET

DETAILED FINAL BEELINE BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT RECAP
BISHOP ASSESSMENT RECAP

DEBT ASSESSMENT RECAP -
2018 METHODODOLOGY - TABLE 1

FINAL BUDGET
BEELINE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	FISCAL YEAR 2018/2019 BUDGET	
O & M Assessments	308,551	
Debt Assessments	643,406	
Other Revenues	80,000	
Interest Income	120	
		
TOTAL REVENUES	$	1,032,077	
		
EXPENDITURES		
Supervisor Fees	9,000	
Payroll Taxes - Employer	720	
Fire Protection Maintenance	1,000	
Signage Maintenance	1,000	
Surface Water Maintenance	7,500	
Engineering/Inspections	20,000	
Management - General	47,268	
Management - Fire Protection	4,000	
Management - Signage	684	
Management - Surface Water	16,524	
Secretarial	4,200	
Legal	22,000	
Assessment Roll	5,000	
Audit Fees	7,300	
Arbitrage Rebate Calculation Fee	650	
Telephone	2,900	
Insurance	9,000	
Legal Advertising	1,300	
Miscellaneous Expense	3,500	
Postage/Office Supplies	2,200	
Dues & Subscriptions	175	
Trustee Fee	3,500	
Continuing Disclosure Fee	1,000	
Legal - Greenberg Traurig (Reimbursed By Landowners)	3,000	
Property Taxes (Reimbursed By Landowners)	70,000	
Contingency - Repairs & Maintenance	10,000	
Maintenance - Lakes & Canals	12,000	
Management Fee - Bishop	79,000	
Bishop - Insurance	7,000	
Electricity	10,000	
Contract Maintenance	24,000	
ADT Services	1,750	
Website Management	1,500	
		
TOTAL EXPENDITURES	$	388,671	
		
EXCESS/ (SHORTFALL)	$	643,406	
		
Bond Payments	$	(604,800)	
		
BALANCE	$	38,606	
		
County Appraiser & Tax Collector Fee	(12,869)	
Discounts For Early Payments	(25,737)	
		
NET EXCESS/ (SHORTFALL)	$	-	

I

DETAILED FINAL BUDGET
BEELINE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	FISCAL YEAR 2016/2017
ACTUAL	FISCAL YEAR 2017/2018
BUDGET	FISCAL YEAR 2018/2019
BUDGET	

COMMENTS	
O & M Assessments	291,266	321,737	308,551	Expenditures Less Interest & Reimbursements	
Debt Assessments	868,184	863,670	643,406	Payment To Trustee/.94	
Other Revenues	92,336	69,000	80,000	Landowner Reimbursements	
Interest Income	100	180	120	Estimated At $10.00 Per Month	
					
TOTAL REVENUES	$	1,251,886	$	1,254,587	$	1,032,077		
					
EXPENDITURES					
Supervisor Fees	6,400	9,000	9,000	No Change From 2017/2018 Budget	
Payroll Taxes - Employer	490	720	720	8% Of Supervisor Fees	
Fire Protection Maintenance	6,498	2,500	1,000	$1,500 Decrease From 2017/2018 Budget	
Signage Maintenance	0	1,000	1,000	No Change From 2017/2018 Budget	
Surface Water Maintenance	5,985	7,500	7,500	No Change From 2017/2018 Budget	
Engineering/Inspections	22,060	20,000	20,000	No Change From 2017/2018 Budget	
Management - General	45,348	46,296	47,268	CPI Adjustment	
Management - Fire Protection	7,272	7,416	4,000	$3,416 Decrease From 2017/2018 Budget	
Management - Signage	660	672	684	CPI Adjustment	
Management - Surface Water	15,864	16,188	16,524	CPI Adjustment	
Secretarial	4,200	4,200	4,200	No Change From 2017/2018 Budget	
Legal	21,619	22,000	22,000	No Change From 2017/2018 Budget	
Assessment Roll	5,000	5,000	5,000	No Change From 2017/2018 Budget	
Audit Fees	6,900	7,100	7,300	Accepted Amount For 2017/2018 Audit	
Arbitrage Rebate Calculation Fee	650	650	650	No Change From 2017/2018 Budget	
Telephone	2,723	2,600	2,900	$300 Increase From 2017/2018 Budget	
Insurance	6,918	10,000	9,000	Fiscal Year 2016/2017 Expenditure Was $7,067	
Legal Advertising	1,262	1,300	1,300	No Change From 2017/2018 Budget	
Miscellaneous Expense	2,843	3,500	3,500	No Change From 2017/2018 Budget	
Postage/Office Supplies	1,100	2,350	2,200	$150 Decrease From 2017/2018 Budget	
Dues & Subscriptions	175	175	175	No Change From 2017/2018 Budget	
Trustee Fee	3,500	3,500	3,500	No Change From 2017/2018 Budget	
Continuing Disclosure Fee	1,000	1,000	1,000	No Change From 2017/2018 Budget	
Legal - Greenberg Traurig (Reimbursed By Landowners)	3,822	3,000	3,000	Legal - Greenberg Traurig (Reimbursed By Landowners)	
Property Taxes (Reimbursed By Landowners)	65,883	66,000	70,000	Property Taxes (Reimbursed By Landowners)	
Contingency - Repairs & Maintenance	6,364	10,000	10,000	No Change From 2017/2018 Budget	
Maintenance - Lakes & Canals	10,820	10,000	12,000	$2,000 Increase From 2017/2018 Budget	
Management Fee - Bishop	87,000	87,000	79,000	$6,583.33 Per Month	
Bishop - Insurance	6,777	0	7,000	Bishop - Insurance	
Electricity	8,675	13,000	10,000	$3,000 Decrease From 2017/2018 Budget	
Contract Maintenance	24,000	24,000	24,000	$2,000 Per Month	
ADT Services	1,590	1,750	1,750	No Change From 2017/2018 Budget	
Website Management	1,500	1,500	1,500	No Change From 2017/2018 Budget	
					
TOTAL EXPENDITURES	$	384,898	$	390,917	$	388,671		
					
EXCESS/ (SHORTFALL)	$	866,988	$	863,670	$	643,406		
					
Bond Payments	$	(823,564)	$	(811,850)	$	(604,800)	2019 P & I Payments Less Earned Interest	
					
BALANCE	$	43,424	$	51,820	$	38,606		
					
County Appraiser & Tax Collector Fee	(4,972)	(17,273)	(12,869)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(34,726)	(34,547)	(25,737)	Four Percent Of Total Assessment Roll	
					
NET EXCESS/ (SHORTFALL)	$	3,726	$	-	$	-		

II

DETAILED FINAL DEBT SERVICE BUDGET
BEELINE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	FISCAL YEAR 2016/2017 ACTUAL	FISCAL YEAR 2017/2018 BUDGET	FISCAL YEAR 2018/2019 BUDGET	

COMMENTS	

Interest Income	
4,675	
150	
500	
Projected Interest For 2018/2019	

Debt Assessments	
823,564	
811,850	
604,800	
Yearly Maximum Debt Assessment	

Total Revenues	
$	828,239	
$	812,000	
$	605,300		

EXPENDITURES					

Principal Payments	
265,000	
210,000	
290,000	
Principal Payment Due On 5-1-19	

Interest Payments	
625,450	
602,000	
314,800	
Interest Payments Due In 2019	

Bond Redemption	
0	
0	
500	
Estimated Excess Debt Collections	

Total Expenditures	
$	890,450	
$	812,000	
$	605,300		

Excess/(Shortfall)	
$	(62,211)	
$	-	
$	-		

Series 2018 Bond Refunding Information
Original Par Amount =	$8,200,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	4.00%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	March 2018			
Maturity Date =

Par Amount As Of 3/1/18 =	May 2037

$8,200,000			

III

Beeline Community Development District Fiscal Year 2018/2019 Assessments

FY 2018/2019 Beeline Assessments

	Pratt Whitney (UTC)	Congress Ave. Properties	FPL	Total Assessment	
O & M Assessment	259,017.94	33,023.95	16,509.11	308,551.00	
Debt Assessment	422,610.00	182,881.00	37,915.00	643,406.00	
Total Assessment	681,627.94	215,904.95	54,424.11	951,957.00	

Notes: Debt Assessments On Tax Roll; O & M Assessment Direct Billed. Total 2017/2018 Debt Assessment Was $863,670.

O & M Assessment

For All Items Except Fire Protection & Management Fee - Bishop	
Percentages (Based On Acreage)			FY 2018/2019 Assessment		
Pratt Whitney (UTC)	94.00%		Pratt Whitney (UTC)	209,949.94	
Congress Ave. Properties	4.00%		Congress Ave. Properties	8,934.04	
FPL	2.00%		FPL	4,467.02	
Total	100.00%		Total	223,351.00	

For Fire Protection (Includes 6% Of Engineering)	
Percentages (Based On Acreage)			FY 2018/2019 Assessment		
Pratt Whitney (UTC)	0.00%		Pratt Whitney (UTC)	0.00	
Congress Ave. Properties	66.67%		Congress Ave. Properties	4,133.54	
FPL	33.33%		FPL	2,066.46	
Total	100.00%		Total	6,200.00	

For Management Fee - Bishop (See page V)	
Total FY 2018/2019 Management Fee - Bishop Assessment	
Pratt Whitney (UTC)	49,068.00		
Congress Ave. Properties	19,956.37		
FPL	9,975.63		
Total	79,000.00		

Total FY 2018/2019 O & M Assessment		
Pratt Whitney (UTC)	259,017.94		
Congress Ave. Properties	33,023.95		
FPL	16,509.11		
Total	308,551.00		

Debt Assessment

Total FY 2018/2019 Debt Assessment		
Pratt Whitney (UTC)	$422,610.00		
Congress Ave. Properties	$182,881.00		
FPL	$37,915.00		
Total	$643,406.00		

IV

Beeline Community Development District Bishop Assessment Recap

Scope A - Public Water ($0 Per Month)		

Pratt Whitney (UTC)	
$0.00	

Scope B - Drinking Water $0 Per Month)		

Pratt Whitney (UTC)	
$0.00	

Scope C - Deep Well ($1,500 Per Month)		

Pratt Whitney (UTC)	
$0.00	

Scope D - Storm Water ($2,250 Per Month)		

Pratt Whitney (94%)	
$2,115.00	

Congress (4%)	
$90.00	

FPL (2%)	
$45.00	

Total	
$2,250.00	

Scope E - Fire Protection ($833.33 Per Month)		

Pratt Whitney (0%)	
$0.00	

Congress (66.67%)	
$555.58	
FPL (33.33%)	$277.75	

Total	
$833.33	

Monthly Management Fee - Bishop Assessment	

Pratt Whitney	
$	4,089.00	

Congress	
$	1,663.03	
FPL	$	831.30	

Grand Total - Monthly	
$	6,583.33	

Scopes A - E ($3,750 Per Month)		

Pratt Whitney (UTC)	
$2,115.00	

Congress	
$645.58	

FPL	
$322.75	

Total	
3,083.33	

		

Fixed Fee Percentages		

Pratt Whitney	
56.40%	

Congress	
29.07%	

FPL	
14.53%	

Total	
100.00%	

ixed Fee Amount ($3,500 Per Month)	

Pratt Whitney	
$	1,974.00	

Congress	
$	1,017.45	
FPL	$	508.55	

Total	
$	3,500.00	

Annual Management Fee - Bishop Assessment	

Pratt Whitney	
$	49,068.00	

Congress	
$	19,956.37	
FPL	$	9,975.62	

Grand Total - Annual	
$	79,000.00	

F

V

Beeline Community Development District Debt Assessment Recap -
2018 Methododology - Table 1

Table 1 – New Assessment Rates

Product	Assessable Acres	Series 2008A Total Maximum Annual Assessment Per   Landowner*	Series 2018 Total Maximum Annual Assessment Per Landowner*	Series 2008A Bond Debt Allocation Per Landowner	Series 2018 Bond Debt Allocation Per Landowner	
United Technologies Corp. (Pratt Whitney)	901.61	$571,342	$422,610	$5,753,879	$5,420,081	
Congress Ave.
Prop.	42.73	$247,243	$182,881	$2,447,493	$2,305,507	
FPL	15.27	$51,258	$37,915	$503,628	$474,412	
Totals	959.61	$869,843	$643,406	$8,705,000	$8,200,000	
* Grossed up to include a 4% discount for early payment of taxes and adjusted to include a 1% collection fee of the County Tax Collector and a 1% service fee of the County Property Appraiser.

VI