Dowden West
Community Development District

Adopted Budget
FY2022

Table of Contents

1-2

3-7

8

9
General Fund

General Fund Narrative

Series 2018 Debt Service Fund

Series 2018 Amortization Schedule

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget		
Description	FY2021	5/31/21	4 Months	9/30/21	FY2022		

Revenues						
Assessments - Tax Roll	$	80,455	$	81,346	$	-	$	81,346	$	134,546	
Assessments - Direct**	$	96,839	$	96,839	$	-	$	96,839	$	96,631	
Developer Contributions	$	89,968	$	-	$	-	$	-	$	273,919	
Total Revenues	$	267,262	$	178,185	$	-	$	178,185	$	505,096	

Expenditures						
General & Administrative						
Supervisor Fees	$	4,800	$	600	$	400	$	1,000	$	4,800	
FICA Expense	$	367	$	46	$	31	$	77	$	367	
Engineering	$	12,000	$	2,545	$	4,000	$	6,545	$	12,000	
Attorney	$	25,000	$	10,714	$	8,333	$	19,047	$	25,000	
Arbitrage	$	450	$	450	$	-	$	450	$	900	
Dissemination Fees	$	3,500	$	2,333	$	1,167	$	3,500	$	7,000	
Annual Audit	$	3,375	$	-	$	3,375	$	3,375	$	5,000	
Trustee Fees	$	3,500	$	4,041	$	-	$	4,041	$	7,000	
Assessment Administration	$	5,000	$	5,000	$	-	$	5,000	$	5,000	
Management Fees	$	35,000	$	23,333	$	11,667	$	35,000	$	36,050	
Information Technology	$	600	$	400	$	200	$	600	$	900	
Website Maintenance	$	-	$	-	$	-	$	-	$	600	
Telephone	$	300	$	-	$	100	$	100	$	300	
Postage	$	1,000	$	103	$	333	$	437	$	1,000	
Insurance	$	5,500	$	5,381	$	-	$	5,381	$	5,919	
Printing & Binding	$	1,000	$	85	$	333	$	418	$	1,000	
Legal Advertising	$	5,000	$	-	$	1,667	$	1,667	$	5,000	
Other Current Charges	$	1,000	$	958	$	100	$	1,058	$	2,000	
Office Supplies	$	625	$	2	$	208	$	210	$	500	
Property Appraiser	$	250	$	163	$	-	$	163	$	250	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total General & Administrative:	$	108,442	$	56,329	$	31,914	$	88,243	$	120,761	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget			
Description	FY2021	5/31/21	4 Months	9/30/21	FY2022			

Operations & Maintenance							
Contract Services							
Field Management	$	15,000	$	10,000	$	5,000	$	15,000	$	15,000		
Landscape Maintenance	$	34,560	$	13,835	$	-	$	13,835	$	247,835		
Lake Maintenance	$	10,260	$	-	$	-	$	-	$	8,000		
Mitigation Monitoring	$	10,000	$	-	$	-	$	-	$	10,000		
Repairs & Maintenance							
General Repairs & Maintenance	$	2,000	$	-	$	1,000	$	1,000	$	2,000		
Operating Supplies	$	500	$	-	$	250	$	250	$	500		
Landscape Replacement	$	5,000	$	-	$	-	$	-	$	5,000		
Fountain Repairs & Maintenance	$	7,000	$	-	$	-	$	-	$	-		
Irrigation Repairs	$	3,000	$	277	$	1,000	$	1,277	$	3,000		
Road & Sidewalk Maintenance	$	5,000	$	-	$	-	$	-	$	-		
Alleyway Maintenance	$	1,500	$	-	$	500	$	500	$	2,500		
Signage	$	3,500	$	-	$	1,167	$	1,167	$	3,500		
Utilities							
Electric	$	1,000	$	-	$	-	$	-	$	2,000		
Water & Sewer	$	14,000	$	-	$	-	$	-	$	14,000		
Streetlights		$	40,000	$	22,449	$	17,551	$	40,000	$	63,000	
Other							
Contingency		$	5,000	$	-	$	1,667	$	1,667	$	5,000	
Property Insurance		$	1,500	$	-	$	-	$	-	$	3,000	
Total Operations & Maintenance:		$	158,820	$	46,561	$	28,134	$	74,695	$	384,335	
							
Total Expenditures		$	267,262	$	102,889	$	60,048	$	162,937	$	505,096	
							
Excess Revenues/(Expenditures)		$	-	$	75,295	$	(60,048)	$	15,247	$	-	

FY2022 Assessments - On Roll O&M							

Type	Units	Per Unit - Gross	Per Unit - Net	Total Net Assessments				
Townhome	99	$315.13	$296.22	$29,326.00				
Single Family - 40'	95	$504.22	$473.97	$45,026.85				
Single Family - 50'	62	$630.27	$592.45	$36,732.14				
Single Family - 60'	33	$756.32	$710.94	$23,461.05				
Total	289			$134,546.03				

** Assessments - Direct represents funds collected for a portion of the administrative budget covered by unplatted units within the District.

Administrative Budget - On Roll	$24,129.60	
Adminsitrative Budget - Direct Bill	  $96,631.48 	
Total Administrative Budget	$120,761.08	

REVENUES:

Assessments

The District will levy a non-ad valorem assessment on all the assessable property within the District in order to pay for the operating expenditures during the fiscal year.

Developer Contributions

The District will enter into a Funding Agreement with the Developer to fund the operating expenditures not covered by assessments 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.

FICA Expense

Represents the Employer’s share of Social Security and Medicare taxes withheld from Board of Supervisors 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 and various projects as directed by the Board of Supervisors and the District Manager.

Attorney

The District's legal counsel will be providing 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.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on its Series 2018 bonds in addition to a second 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.

Annual Audit

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

Trustee Fees

The District will incur trustee related costs with the Series 2018 bonds in addition to a second bond issuance.

Assessment Administration

The District will contract to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Management Fees

The District will incur costs for Management, Accounting and Administrative services during the Fiscal Year.

Information Technology

Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, security, accounting software, etc.

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.

Telephone

Telephone and fax machine.

Postage

The District incurs charges for mailing of Board meeting agenda packages, overnight deliveries, correspondence, etc.

Insurance

The District’s general liability, public official’s liability insurance 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

Any supplies that may need to be purchased during the fiscal year, e.g., paper, minute books, file folders, labels, paper clips, etc.

Property Appraiser

Represents the fees to be paid to the Orange County Property Appraiser for annual assessment roll administration.

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.

Operations & Maintenance:

Contract Services:

Field Management

Represents the estimated costs of onsite field management of contracts for the District such as landscape and lake maintenance. Services to include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Landscape Maintenance

Represents the estimated maintenance of the landscaping within the common areas of the District after the installation of landscape material has been completed.

Description	Annual Amount	
Landscape Maintenance Phase 1 & 4	$	132,372	
Landscape Maintenance Phase 2	$	93,888	
Contingency	 $	21,575		
	$	247,835	

Lake Maintenance

Represents estimated costs for maintenance to all lakes the District must maintain within District boundaries.

Description	Annual Amount	
Lake Maintenance Phase 1 & 4	$	4,800	
Lake Maintenance Phase 2	 $	3,200		
	$	8,000	

Mitigation Monitoring		

The District will incur costs for scheduled monitoring of mitigation areas located throughout the District. The amounts are estimated.

Repairs & Maintenance:

General Repairs & Maintenance

Represents estimated costs for the general repairs and maintenance of various facilities throughout the District.

Operating Supplies

Represents estimated costs of supplies purchased for operating and maintaining common areas.

Landscape Replacement

Represents estimated costs related to the replacement of any landscaping needed throughout the fiscal year.

Irrigation Repairs

The District will incur costs related to repairing and maintaining its irrigation systems. The amount is based on estimated costs.

Alleyway Maintenance

Represents estimated costs for the maintenance of alleyways located within the District.

Signage

Represents estimated costs to replace miscellaneous signs throughout the fiscal year.

Utilities:

Electric

Represents estimated electric charges of common areas throughout the District.

Water & Sewer

Represents estimated costs for water and refuse services provided for common areas throughout the District.

Streetlights

Represents the cost to maintain street lights within the District Boundaries that are expected to be in place throughout the fiscal year.

Description	Annual Amount	
Streetlights Dowden Rd Phase 1 & 4	$	38,263	
Streetlights Phase 2	$	24,150	
Contingency	 $	587		
	$	63,000	

Other:

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any standard category.

Property Insurance

The District will incur fees to insure items owned by the District for its property needs. Coverage is provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage for government agencies.

Adopted Budget
Debt Service Fund Series 2018

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget			
Description	FY2021	5/31/21	4 Months	9/30/21	FY2022			

Revenues							
Assessments - Tax Roll	$	127,652	$	129,065	$	-	$	129,065	$	213,474			
Assessments - Direct	$	292,340	$	292,340	$	-	$	292,340	$	206,416			
Interest	$	-	$	14	$	7  $	21	$	-			
Carry Forward Surplus	$	168,152	$	168,070	$	-		$	168,070	$	168,427	
Total Revenues	$	588,144	$	589,490	$	7	$	589,497	$	588,316	

Expenditures							
General & Administrative:							

Interest - 11/1	
$	163,035	
$	163,035	
$	-		
$	163,035	
$	160,969	
Principal - 5/1	$	95,000	$	95,000	$	-		$	95,000	$	100,000	
Interest - 5/1	$	163,035	$	163,035	$	-		$	163,035	$	160,969	
Total Expenditures	$	421,070	$	421,070	$	-		$	421,070	$	421,938	
							
Excess Revenues/(Expenditures)	$	167,074	$	168,420	$	7	$	168,427	$	166,379	

FY2022 Assessments - On Roll Debt Service
Interest - 11/1/22 	$158,794 
Total		$158,794 

Type	
Platted Units- Tax Roll	
Unplatted Units - Direct	Net Annual Per Unit Assessment	Platted	Total Net Assessments	Unplatted Total Net Assessments	
Townhome	99	1	$470.00	$46,530.00	$470.00	
Single Family - 40'	95	42	$752.00	$71,440.00	$31,584.00	
Single Family - 50'	62	62	$940.00	$58,280.00	$58,280.00	
Single Family - 60'	33	103	$1,128.00	$37,224.00	$116,184.00	
Total	289	208		$213,474.00	$206,518.00	
Series 2018 Special Assessment Bonds Amortization Schedule

05/01/21	$
6,080,000.00	$
95,000.00  $
163,035.00

11/01/22	$
05/01/23	$
11/01/23	$
05/01/24	$
11/01/24	$
05/01/25	$
11/01/25	$
05/01/26	$
11/01/26	$
05/01/27	$
11/01/27	$
05/01/28	$
11/01/28	$
05/01/29	$
11/01/29	$
05/01/30	$
11/01/30	$
05/01/31	$
11/01/31	$
05/01/32	$
11/01/32	$
05/01/33	$
11/01/33	$
05/01/34	$
11/01/34	$
05/01/35	$
11/01/35	$
05/01/36	$
11/01/36	$
05/01/37	$
11/01/37	$
05/01/38	$
11/01/38	$
05/01/39	$
11/01/39	$
05/01/40	$
11/01/40	$
05/01/41	$
11/01/41	$
05/01/42	$
11/01/42	$
05/01/43	$
11/01/43	$
05/01/44	$
11/01/44	$
05/01/45	$
11/01/45	$
05/01/46	$
11/01/46	$
05/01/47	$
11/01/47	$
05/01/48	$
11/01/48	$
05/01/49	$
5,885,000.00	$
5,885,000.00	$
5,785,000.00	$
5,785,000.00	$
5,680,000.00	$
5,680,000.00	$
5,570,000.00	$
5,570,000.00	$
5,455,000.00	$
5,455,000.00	$
5,330,000.00	$
5,330,000.00	$
5,200,000.00	$
5,200,000.00	$
5,065,000.00	$
5,065,000.00	$
4,920,000.00	$
4,920,000.00	$
4,770,000.00	$
4,770,000.00	$
4,610,000.00	$
4,610,000.00	$
4,440,000.00	$
4,440,000.00	$
4,260,000.00	$
4,260,000.00	$
4,070,000.00	$
4,070,000.00	$
3,870,000.00	$
3,870,000.00	$
3,660,000.00	$
3,660,000.00	$
3,440,000.00	$
3,440,000.00	$
3,205,000.00	$
3,205,000.00	$
2,960,000.00	$
2,960,000.00	$
2,700,000.00	$
2,700,000.00	$
2,425,000.00	$
2,425,000.00	$
2,135,000.00	$
2,135,000.00	$
1,825,000.00	$
1,825,000.00	$
1,500,000.00	$
1,500,000.00	$
1,155,000.00	$
1,155,000.00	$
790,000.00	$
790,000.00	$
405,000.00	$
405,000.00	$
-	$
100,000.00  $
-	$
105,000.00  $
-	$
110,000.00  $
-	$
115,000.00  $
-	$
125,000.00  $
-	$
130,000.00  $
-	$
135,000.00  $
-	$
145,000.00  $
-	$
150,000.00  $
-	$
160,000.00  $
-	$
170,000.00  $
-	$
180,000.00  $
-	$
190,000.00  $
-	$
200,000.00  $
-	$
210,000.00  $
-	$
220,000.00  $
-	$
235,000.00	$
-	$
245,000.00	$
-	$
260,000.00	$
-	$
275,000.00	$
-	$
290,000.00	$
-	$
310,000.00	$
-	$
325,000.00	$
-	$
345,000.00	$
-	$
365,000.00	$
-	$
385,000.00	$
-	$
405,000.00	$
158,793.75  $
158,793.75  $
156,618.75  $
156,618.75  $
154,072.50  $
154,072.50  $
151,405.00  $
151,405.00  $
148,616.25  $
148,616.25  $
145,585.00  $
145,585.00  $
142,432.50  $
142,432.50  $
139,158.75  $
139,158.75  $
135,243.75  $
135,243.75  $
131,193.75  $
131,193.75  $
126,873.75  $
126,873.75  $
122,283.75  $
122,283.75  $
117,423.75  $
117,423.75  $
112,293.75  $
112,293.75  $
106,893.75  $
106,893.75  $
101,223.75  $
101,223.75  $
95,283.75  $
95,283.75  $
88,938.75  $
88,938.75  $
82,140.00  $
82,140.00  $
74,925.00  $
74,925.00  $
67,293.75  $
67,293.75  $
59,246.25  $
59,246.25  $
50,643.75  $
50,643.75  $
41,625.00  $
41,625.00  $
32,051.25  $
32,051.25  $
21,922.50  $
21,922.50  $
11,238.75  $
11,238.75  $
$
419,762.50
- 415,412.50
- 415,691.25
- 415,477.50
- 415,021.25
- 419,201.25
- 418,017.50
- 416,591.25
- 419,402.50
- 416,437.50
- 418,067.50
- 419,157.50
- 419,707.50
- 419,717.50
- 419,187.50
- 418,117.50
- 416,507.50
- 419,222.50
- 416,078.75
- 417,065.00
- 417,218.75
- 416,540.00
- 419,890.00
- 417,268.75
- 418,676.25
- 418,973.75
- 418,161.25
- 416,238.75