Beeline
Community Development District

Proposed Budget For Fiscal Year 2020/2021
October 1, 2020 - September 30, 2021

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BEELINE BUDGET

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

DEBT ASSESSMENT RECAP -
SERIES 2018 METHODOLOGY - TABLE 1

PROPOSED BUDGET
BEELINE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2020/2021 BUDGET	
O & M Assessments	301,315	
Debt Assessments	643,406	
Other Revenues	82,500	
Interest Income	0	
		
TOTAL REVENUES	$	1,027,221	
		
EXPENDITURES		
Supervisor Fees	8,000	
Payroll Taxes - Employer	640	
Fire Protection Maintenance	1,000	
Signage Maintenance	1,000	
Surface Water Maintenance	7,500	
Engineering/Inspections	17,000	
Management - General	48,168	
Management - Fire Protection	0	
Management - Signage	696	
Management - Surface Water	16,836	
Secretarial	4,200	
Legal	22,000	
Assessment Roll	5,000	
Audit Fees	4,900	
Arbitrage Rebate Calculation Fee	650	
Telephone	5,300	
Insurance	8,500	
Legal Advertising	1,400	
Miscellaneous Expense	3,300	
Postage/Office Supplies	1,800	
Dues & Subscriptions	175	
Trustee Fee	3,500	
Continuing Disclosure Fee	1,000	
Legal - Greenberg Traurig (Reimbursed By Landowners)	2,000	
Property Taxes (Reimbursed By Landowners)	73,000	
Contingency - Repairs & Maintenance	10,000	
Maintenance - Lakes & Canals	20,000	
Management Fee - Bishop	69,000	
Bishop - Insurance	7,500	
Electricity	12,000	
Contract Maintenance	24,000	
ADT Services	1,750	
Website Management	2,000	
		
TOTAL EXPENDITURES	$	383,815	
		
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)	$	-	

DETAILED PROPOSED BUDGET
BEELINE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2018/2019
ACTUAL	FISCAL YEAR 2019/2020
BUDGET	FISCAL YEAR 2020/2021
BUDGET	

COMMENTS	
O & M Assessments	323,517	297,291	301,315	Expenditures Less Interest & Reimbursements	
Debt Assessments	643,523	643,406	643,406	Payment To Trustee/.94	
Other Revenues	69,401	79,000	82,500	Landowner Reimbursements	
Interest Income	0	24	0		
					
TOTAL REVENUES	$	1,036,441	$	1,019,721	$	1,027,221		
					
EXPENDITURES					
Supervisor Fees	5,800	8,000	8,000	No Change From 2019/2020 Budget	
Payroll Taxes - Employer	444	640	640	8% Of Supervisor Fees	
Fire Protection Maintenance	4,088	1,000	1,000	No Change From 2019/2020 Budget	
Signage Maintenance	0	1,000	1,000	No Change From 2019/2020 Budget	
Surface Water Maintenance	5,985	7,500	7,500	No Change From 2019/2020 Budget	
Engineering/Inspections	13,049	18,000	17,000	FY 19/20 Expenditure Through March 2020 Was $6,072	
Management - General	47,268	48,168	48,168	No Change From 2019/2020 Budget	
Management - Fire Protection	4,000	0	0	Fire Protection Eliminated	
Management - Signage	684	696	696	No Change From 2019/2020 Budget	
Management - Surface Water	16,524	16,836	16,836	No Change From 2019/2020 Budget	
Secretarial	4,200	4,200	4,200	No Change From 2019/2020 Budget	
Legal	12,244	22,000	22,000	FY 19/20 Expenditure Through March 2020 Was $9,573	
Assessment Roll	5,000	5,000	5,000	No Change From 2019/2020 Budget	
Audit Fees	7,100	7,400	4,900	Accepted Amount For 2019/2020 Audit	
Arbitrage Rebate Calculation Fee	650	650	650	No Change From 2019/2020 Budget	
Telephone	3,960	3,100	5,300	FY 19/20 Expenditure Through April 2020 Was $3,014	
Insurance	6,987	9,000	8,500	Insurance Estimate	
Legal Advertising	1,252	1,400	1,400	No Change From 2019/2020 Budget	
Miscellaneous Expense	3,026	3,300	3,300	No Change From 2019/2020 Budget	
Postage/Office Supplies	1,031	2,000	1,800	$200 Decrease From 2019/2020 Budget	
Dues & Subscriptions	175	175	175	No Change From 2019/2020 Budget	
Trustee Fee	3,500	3,500	3,500	No Change From 2019/2020 Budget	
Continuing Disclosure Fee	1,000	1,000	1,000	No Change From 2019/2020 Budget	
Legal - Greenberg Traurig (Reimbursed By Landowners)	0	2,000	2,000	Legal - Greenberg Traurig (Reimbursed By Landowners)	
Property Taxes (Reimbursed By Landowners)	69,401	70,000	73,000	Property Taxes (Reimbursed By Landowners)	
Contingency - Repairs & Maintenance	1,764	10,000	10,000	No Change From 2019/2020 Budget	
Maintenance - Lakes & Canals	21,320	14,000	20,000	FY 19/20 Expenditure Through April 2020 Was $14,410	
Management Fee - Bishop	86,714	69,000	69,000	$5,750.00 Per Month - Fire Protection Eliminated	
Bishop - Insurance	7,252	7,000	7,500	Bishop - Insurance	
Electricity	10,310	12,000	12,000	No Change From 2019/2020 Budget	
Contract Maintenance	24,000	24,000	24,000	$2,000 Per Month	
ADT Services	1,344	1,750	1,750	No Change From 2019/2020 Budget	
Website Management	1,500	2,000	2,000	No Change From 2019/2020 Budget	
					
TOTAL EXPENDITURES	$	371,572	$	376,315	$	383,815		
					
EXCESS/ (SHORTFALL)	$	664,869	$	643,406	$	643,406		
					
Bond Payments	$	(611,493)	$	(604,800)	$	(604,800)	2021 P & I Payments Less Earned Interest	
					
BALANCE	$	53,376	$	38,606	$	38,606		
					
County Appraiser & Tax Collector Fee	(3,483)	(12,869)	(12,869)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(25,736)	(25,737)	(25,737)	Four Percent Of Total Assessment Roll	
					
NET EXCESS/ (SHORTFALL)	$	24,157	$	-	$	-		

DETAILED PROPOSED DEBT SERVICE BUDGET
BEELINE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2018/2019 ACTUAL	FISCAL YEAR 2019/2020 BUDGET	FISCAL YEAR 2020/2021 BUDGET	

COMMENTS	

Interest Income	
7,482	
500	
500	
Projected Interest For 2020/2021	

Debt Assessments	
611,493	
604,800	
604,800	
Yearly Maximum Debt Assessment	

Total Revenues	
$	618,975	
$	605,300	
$	605,300		

EXPENDITURES					

Principal Payments	
290,000	
300,000	
310,000	
Principal Payment Due On 5-1-2021	

Interest Payments	
320,600	
303,000	
290,800	
Interest Payments Due In 2021	

Bond Redemption	
0	
2,300	
4,500	
Estimated Excess Debt Collections	

Total Expenditures	
$	610,600	
$	605,300	
$	605,300		

Excess/(Shortfall)	
$	8,375	
$	-	
$	-		

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 1/1/20 =	May 2037

$7,725,000			

Beeline Community Development District Fiscal Year 2020/2021 Assessments

FY 2020/2021 Beeline Assessments

	Pratt Whitney (UTC)	Congress Ave. Properties	FPL	Total Assessment	
O & M Assessment	267,444.10	22,582.00	11,288.90	301,315.00	
Debt Assessment	422,610.00	182,881.00	37,915.00	643,406.00	
Total Assessment	690,054.10	205,463.00	49,203.90	944,721.00	

Notes: Debt Assessments On Tax Roll; O & M Assessment Direct Billed.

O & M Assessment

For All Items Except Fire Protection & Management Fee - Bishop	
Percentages (Based On Acreage)			FY 2020/2021 Assessment		
Pratt Whitney (UTC)	94.00%		Pratt Whitney (UTC)	218,376.10	
Congress Ave. Properties	4.00%		Congress Ave. Properties	9,292.60	
FPL	2.00%		FPL	4,646.30	
Total	100.00%		Total	232,315.00	

For Fire Protection	
Percentages (Based On Acreage)			FY 2020/2021 Assessment		
Pratt Whitney (UTC)	0.00%		Pratt Whitney (UTC)	0.00	
Congress Ave. Properties	66.67%		Congress Ave. Properties	0.00	
FPL	33.33%		FPL	0.00	
Total	100.00%		Total	0.00	

For Management Fee - Bishop (See page V)	
Total FY 2020/2021 Management Fee - Bishop Assessment	
Pratt Whitney (UTC)	49,068.00		
Congress Ave. Properties	13,289.40		
FPL	6,642.60		
Total	69,000.00		

Total FY 2020/2021 O & M Assessment		
Pratt Whitney (UTC)	267,444.10		
Congress Ave. Properties	22,582.00		
FPL	11,288.90		
Total	301,315.00		

Debt Assessment

Total FY 2020/2021 Debt Assessment		
Pratt Whitney (UTC)	$422,610.00		
Congress Ave. Properties	$182,881.00		
FPL	$37,915.00		
Total	$643,406.00		

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 ($0 Per Month)		

Pratt Whitney (0%)	
$0.00	

Congress (100%)	
$0.00	
FPL (0%)	$0.00	

Total	
$0.00	

Monthly Management Fee - Bishop Assessment	

Pratt Whitney	
$	4,089.00	

Congress	
$	1,107.45	
FPL	$	553.55	

Grand Total - Monthly	
$	5,750.00	

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

Pratt Whitney (UTC)	
$2,115.00	

Congress	
$90.00	

FPL	
$45.00	

Total	
2,250.00	

		

Fixed Fee Percentages		

Pratt Whitney	
56.40%	

Congress	
29.07%	

FPL	
14.53%	

Total	
100.00%	

Fixed 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	
$	13,289.40	
FPL	$	6,642.60	

Grand Total - Annual	
$	69,000.00	

V

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

Table 1 – 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