Adopted Budget	
Fiscal Year 2020	

Academical Village	
Community Development District	

August 7, 2019

$68,809	
 	$68,809 	

$54,981	
 	$54,981 	

$16,806	
 	$16,806 	

$71,787	
 	$71,787 	

$86,881	
 	$86,881 	

Academical Village	
Community Development District	

FY2019	
Adopted	
 	Budget		

Actual	
thru	
 	6/30/2019		

Projected	
Next	
 	3 Months		

Total	
Projected at	
 	9/30/2019		

FY2020	
Adopted	
 	Budget		

 Description		
Revenues	
Developer Contributions	
Total Revenues	

General Fund

Expenditures	
Administrative	
Supervisors Fees	
FICA Taxes	
Engineering	
Attorney	
Management Fees	
Computer Time	
Telephone	
Postage	
Insurance	
Printing & Binding	
Legal Advertising	
Other Current Charges	
Website Compliance	
Office Supplies	
Dues, Licenses	

$5,000	
$383	
$6,500	
$20,000	
$25,000	
$500	
$100	
$500	
$6,003	
$750	
$2,500	
$648	
$500	
$250	
$175	

$1,000	
$76	
$18,312	
$10,106	
$17,167	
$375	
$13	
$136	
$5,750	
$135	
$473	
$0	
$375	
$58	
$175	

$1,200	
$92	
$6,104	
$3,369	
$6,250	
$125	
$4	
$45	
$0	
$45	
$158	
$100	
$125	
$19	
$0	

$2,200	
$168	
$24,416	
$13,475	
$23,417	
$500	
$17	
$181	
$5,750	
$180	
$631	
$100	
$500	
$77	
$175	

$5,000	
$383	
$15,000	
$20,000	
$35,000	
$500	
$100	
$500	
$6,325	
$500	
$1,500	
$648	
$1,000	
$250	
$175	

Total Administrative	 	$68,809	 	$54,151	 	$17,636	 	$71,787	 	$86,881 

Unassigned Fund Balance	 	$0	$830	($830)	$0	$0

Page 1

REVENUES:

Developer Contributions

The District has entered into a Funding Agreement with the Developer to Fund all General Fund expenditures for the Fiscal Year.

_	_	_	_

EXPENDITURES:

Administrative:

Supervisor Fees

The Florida Statutes allows each board member to receive $200 per meeting not to exceed $4,800 in one year. The amount for the fiscal year is based upon 3 supervisors attending the estimated 6 meetings.

FICA Taxes

Related payroll taxes of 7.65% for above.

Engineering Fees

The District's engineer will be providing general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review invoices, etc.

Attorney Fees

The District's legal counsel will be providing general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating & maintenance contracts, etc.

Management Fees

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

Computer Time

The District processes all of its financial activities, i.e. accounts payable, financial statements, etc. on a main frame computer leased by Governmental Management Services – South Florida, LLC.

Telephone

This item includes telephone and fax service.

Postage

Mailing of agenda packages, overnight deliveries, correspondence, etc.

Insurance

The District's General Liability & Public Officials Liability Insurance policy is with a qualified entity that specializes in providing insurance coverage to governmental agencies. The amount is based upon similar Community Development Districts.

Administrative: (continued)

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 that incurred during the year.

Website Compliance

Per Chapter 2014-22, Laws of Florida, all Districts must have a website to provide detailed information on the CDD as well as links to useful websites regarding Compliance issues. This website will be maintained by GMS-SF, LLC and updated monthly.

Office Supplies

Miscellaneous office supplies.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Department of Economic Opportunity for $175. This is the only expense under this category for the District.