WHERE DOES OUR MONEY GO? GO? VILLAGES HOMEOWNERS ASSOCIATION - - PowerPoint PPT Presentation

WHERE DOES OUR MONEY GO? GO?

VILLAGES HOMEOWNERS ASSOCIATION CENTRAL/SOUTH WORKSHOP

CLEARING THE AIR…… ACRONYMS

SLCDD Sumter Landing Community Development District VCCDD Village Center Community Development District VCDDs Numbered Village Community Development Districts (VCDD 5, 6, 7, 8, 9 10 and 11 – south of CR466) PWAC Project Wide Advisory Committee VPSD Villages Public Safety Department NSCUDD North Sumter County Utility Dependent District

VLS

Villages of Lake Sumter, Inc. (Developer)

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THERE IS NO MYSTERY!

There are 15 Special Districts HOWEVER, you receive services from only

4 Districts:

VCCDD: Villages Public Safety Department SLCDD: Amenities NSCUDD: Sanitation (Garbage) Utilities for Districts VCDD 5, 6, 7 & 8 ONE OF THE VCDDs - 5, 6, 7, 8, 9, 10, or 11: Maintenance Deed Compliance

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ELECTED OFFICIALS

VCDD 5- Seat 1, Walter Martin, Chair; Seat 2, Jerry Knoll; Seat 3, Jerry Ferlisi; Seat 4, Chuck Wildzunas; Seat 5, Gary Kadow, Vice Chair VCDD 6- Seat 1, Sally Moss, Chair; Seat 2, John Calandro; Seat 3, Joyce Edmonds; Seat 4, Donna Kempa; Seat 5, Peter Moeller, Vice Chair VCDD 7- Seat 1, Dennis Broedlin; Seat 2, William VonDohlen; Seat 3, Ron Ruggeri, Vice Chair; Seat 4, Jerry Vicenti; Seat 5, Ron McMahon, Chair VCDD 8- Seat 1, Dennis Hayes; Seat 2, Sal Torname, Chair; Seat 3, Victor Ray, Vice Chair; Seat 4, Ray Banks; Seat 5, Joe Elliott VCDD 9- Seat 1, Steve Printz, Chair; Seat 2, Jack Reimer, Vice Chair; Seat 3, Diane Spencer; Seat 4, J.R. Rebecky; Seat 5, Steve Brown VCDD 10- Seat 1, Dennis Stradinger, Chair; Seat 2, Roz Harris; Seat 3, Donald Wiley; Seat 4, Brad Brown; Seat 5, Tim Sennett, Vice Chair VCDD 11- Seat 1, Scott Renick; Seat 2, Bobby Hoopfer; Seat 3, Scott Robertson; Seat 4, Dan Sprung; Seat 5, Mackie McCabe, Chair SLCDD – Seat 1,Joe Nisbett, Vice Chair; Seat 2, Dr. Randy McDaniel; Seat 3, Al Schmid; Seat 4, Mike Berning, Chair; Seat 5, Gerry Lachnicht NSCUDD – Seat 1, Bob Risser; Seat 2, Charlie Smith, Vice Chair; Seat 3, Gary Davis, Chair; Seat 4, Dominic Berardi, Vice Chair; Seat 5, Allen Vanover; Seat 6, Patricia Francis; Seat 7, Diane Spencer VCCDD – Seat 1, Steve Kurtz; Seat 2, Steve Drake, Chair; Seat 3, Art Rowe; Seat 4, Gary Moyer; Seat 5, Tom Brooks, Vice Chair All emails are first name.last name @ Districtgov.org

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THERE IS NO MYSTERY!

• All Districts are separate government

entities (like Town of Lady Lake, Wildwood, Ocala and Sumter County) and are each governed by State of Florida elected officials.

• Each District Budget is independent of the
• thers.
• All Districts must abide by all applicable State

Statutes for Public Records, Open Meetings, Sunshine Laws, Ethics, Auditing, etc.

• All financial records, audits, minutes, agendas,

and related information are on the web site www.districtgov.org All records are public and are available through a simple request to District Staff (753-4508).

5

THERE IS NO MYSTERY!

A copy of this power point presentation is available to anyone who requests it. If you did not provide your email address when you arrived this evening, please contact me if you would like it emailed to you. If you would prefer a hard copy please provide a mailing address or advise if you would like to pick up a copy at our Sumter Landing Office. janet.tutt@districtgov.org

• r www.districtgov.org

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Your “District” Dollars! Bond Assessments Amenity Fees Utilities Maintenance Assessments Sanitation Services

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Bond on Your Home

• Annually on your tax

bill or in whole at any time

Maintenance Assessments Districts 5,6,7,8,9,10

• Annually on your Tax

Bill

Amenity Fee 6604 Amenities to SLCDD and Balance to VLS

• Monthly Bill

MONEY MONEY AND AND THE THE DISTRICT DISTRICTS WHE WHERE RE DOE DOES S IT GO? IT GO?

Utilities Charge

• Monthly

Bill

Sanitation Charge

• Monthly

Bill

ALTHOUGH NOT INCLUDED IN THE PRESENTATION, IF YOU HAVE QUESTIONS REGARDING THE FOLLOWING I WILL BE MORE THAN GLAD TO ADDRESS THEM

NUMBERED DISTRICT BOND ASSESSMENTS paid annually or in full at any time and pays for infrastructure required to build home that is maintained through the District Maintenance Assessment. UTILITIES – North Sumter County Utility Dependent District (NSCUDD) services the area north of CR466A and south of

• CR466. North Sumter Utility(NSU) and Village Water

Conservation Area(VWCA) bills are issued monthly based on consumption of water/wastewater/irrigation. If you live south of CR466A, your water/wastewater/irrigation is billed by the District on behalf of the private utility systems CSU/SWCA. SANITATION - North Sumter County Utility Dependent District (NSCUDD) services all of Sumter County and bills are issued monthly based on a fixed rate.

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AMENITY FEES AND MAINTENANCE ASSESSMENTS

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AMENITY FEES AND MAINTENANCE ASSESSMENTS

Landscaping (ROW & Common Areas) Stormwater System and retention basins Community Watch Recreation Centers and District sponsored Activities Gates and Postal Facilities Executive Golf Courses Villages Public Safety

MAINTENANCE ASSESSMENTS PAID ANNUALLY ON TAX BILL FOR EACH DISTRICT

Landscaping (ROW & Common Areas) Stormwater System and retention basins Multi Modal Paths Fences Street Lights Sign Walls Villa Roads Deed Compliance

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AMENITY FEES PAID MONTHLY ON BILL WITH SANITATION AND UTILITIES

AMENITY FEES

WHAT ARE THEY? WHAT DO THEY PAY FOR? WHAT ARE REVENUES AND EXPENDITURES?

12

AMENITY FEES

• Payment of the Amenity Fee is required through the

Contract you signed when you bought your home. The Contract requires you to adhere to the Declaration of Restrictions (Restrictions) for your unit/lot.

• Amenity Fee is paid in exchange for Amenity Services - It is

a FEE FOR SERVICES.

• Depending on your Restrictions, your Amenity Fee

increases either every year or every three years.

• Depending on your Restrictions, your Amenity Fee increase

is based on when you purchased your property or signed your contract.

• The Amenity Fee increase is based on the CPI and CAN

NOT be increased greater than that amount each year(or every three years depending on your Restrictions).

• The current rate for all new homebuyers is $145.00/month
• There is currently a deferral at $155 which means no resident

pays more than $155 per month

AMENITY FEES

• 31,141 Amenity Fees (Rooftops)

South of CR466 as of 12/31/14

• 6,604 Amenity Fees have been sold

by VLS to SLCDD

• 24,437 Amenity Fees owned by VLS

(As information, there are 21,947 Amenity Fees North of CR466 owned by VCCDD)

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THIS IS WHERE IT GETS CONFUSING – BUT STICK WITH ME AND IT WILL MAKE SENSE!!!!!!!!!!!

AMENITY FEES

• 6,604 Amenities (rooftops) in the general geographical area of CDD5 were

purchased by SLCDD from the VLS

• With the purchase of the amenity revenue stream came specific

infrastructure necessary for providing Amenity services (some Recreation Centers, Executive Golf Courses, gate houses, postal parks, etc.)

• The revenues from those 6,604 Amenities pay for the operation and

maintenance of amenity activities and facilities.

• 24,437 Amenities (rooftops), as of 12/31/2014, are currently owned by VLS
• The revenues from those 24,437 Amenities pay for the maintenance of

amenity facilities within the balance of the geographical area.

• VLS pays SLCDD for its portion of the operation, staffing and
• verhead of amenity activities such as Recreation, Community Watch,

Golf, VPSD, Finance, etc.

• VLS maintains the Amenity infrastructure it owns such as executive

golf courses, recreation facilities, postal facilities, etc.

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SUMTER LANDING AMENITY DIVISION (SLAD) FY2014/15 BUDGET

$19,903,437

Major Revenues

• $ 11,600,481 - Amenity Fees
• $ 308,360 - General Government (i.e., Late

Penalty Fee, Gate Repair, Access Card Fee, electric reimbursement)

• $ 4,234,465 - Public Safety Charges & Fees (i.e.,

Home/Business Watch, Special Events, VLS share of CW)

• $ 446,900 - Parks & Recreation (i.e., Trail Fees,

Recreation Events, Green Fees and Cart rental)

• $ 2,259,253 - VLS Recreation/Golf Management
• $ 813,930 - VLS for contractual services (i.e., IT

and Recreation News)

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SUMTER LANDING AMENITY DIVISION (SLAD) FY2014/15 BUDGET

$19,903,437

Major Expenditures

• $ 5,251,542 - Professional Services (i.e., Administrative,

Community Watch, Property Management, Recreation, Engineering, Legal, Technology)

• $ 3,926,042 - Contractual Services (i.e., Janitorial, VPSD, Golf

Management Services, Systems Management Support)

• $ 603,244 - Utilities
• $ 170,143 - Insurance
• $ 2,349,909 - Repairs and Maintenance (i.e., Landscape,

Buildings, Pools, Gates, Irrigation)

• $ 725,999 - Operating Supplies (i.e., Fuel, Recreation

Supplies, Operating Supplies, Non-capital FFE)

• $ 4,016,003 - Debt Service
• $ 292,500 - Printing and Binding
• $ 2,250,000 - Transfer to General Reserve

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SLAD - Working Capital and Reserve

2012-13 Actual

2013-14 Amended Budget 2014-15 Final Budget

Working Capital

Beginning Balance

6,437,502 6,270,733

Deposits

14,789,476 15,712,646

Expenditures

14,956,245 15,887,434

Ending Balance

6,437,502 6,270,733 6,095,945

Debt Service

Beginning Balance

246,614 246,614

Deposits

4,047,978 4,016,003

Expenditures

4,047,978 4,016,003

Ending Balance

246,614 246,614 246,614

RESERVES General R&R

Beginning Balance

4,500,000 6,750,000

Deposits

2,250,000 2,250,000

Expenditures Ending Balance

4,500,000 6,750,000 9,000,000

Insurance Reserve

Beginning Balance

75,000 75,000

Deposits Expenditures Ending Balance

75,000 75,000 75,000

FACILITIES OWNED BY SLCDD SOUTH OF CR466 (BALANCE O

OF FACILITIES ARE OWNED BY THE DEVELOPER)

Postal Parks

♦Ashland Postal Park ♦Belvedere Postal Park ♦Bonnybrook Postal Park ♦Lynnhaven Postal Park ♦Poinciana Postal Park ♦Sunset Pointe Postal Park ♦Winifred Postal Park ♦Bridgeport Postal Park

Gate Houses

♦Bonnybrook Gate House ♦Ashland Gate House ♦Belvedere Gate House ♦Bridgeport at Lake Miona Gate House ♦Winifred Gate House

Golf Courses

♦Belmont Golf Course ♦Pimlico Golf Course ♦Churchill Golf Course

Recreation Centers

♦ Ashland Neighborhood Recreation Center ♦ Allamanda Village Recreation Center ♦ Belvedere Neighborhood Recreation Center ♦ Bonnybrook Neighborhood Recreation Center ♦ Bridgeport Village Recreation Center ♦ Churchill Street Village Recreation Center ♦ Hibiscus Village Recreation Center ♦ Laurel Manor Regional Recreation Center ♦ Lynnhaven Neighborhood Recreation Center ♦ Pimlico Village Recreation Center ♦ Poinciana Neighborhood Recreation Center ♦ Sunset Pointe Neighborhood Recreation Center ♦ Winifred Neighborhood Recreation Center

MAINTENANCE ASSESSMENTS

WHAT ARE THEY? WHAT DO THEY PAY FOR? WHAT ARE REVENUES AND EXPENDITURES?

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MAINTENANCE ASSESSMENTS DISTRICTS 5,6,7,8,9,10 (AND SOON 11)

What are they? Annual non-ad valorem Maintenance Assessments (non-ad valorem means they are not based on the value of your home) paid by the numbered district residents for the

• peration of the District owned infrastructure (built with

bonds levied on homes) or infrastructure such as retention basins required for construction of the district and deed compliance enforcement. During the budget process, each numbered district Board determines the assessment amount based on the annual operating needs and planned future needs. These fees are calculated considering the amount of revenue needed and distributing that amount to owners based on the acreage and number of lots.

MAINTENANCE ASSESSMENT BUDGETS

DISTRICTS 5,6,7,8,9,10

REVENUES

• Maintenance Assessments- levied on your annual tax bill
• Other Revenues (Interest, Sumter County Road Reimbursement, etc.)

EXPENDITURES

• Administrative Costs (insurance, legal, staffing, overhead, etc.)
• Landscape (right-of-way and common areas, ongoing and replacement)
• Professional Fees (Engineers, Attorneys, etc.)
• Electricity (pumps, street lights, sign walls, etc.)
• Stormwater Facilities (including retention basins)
• Transportation Paths
• Maintenance costs (paint, fence, sign walls, villa roads, etc.)
• Reserves for future expenditures
• Deed Compliance

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ANNUAL MAINTENANCE ASSESSMENT PAYMENT

The Maintenance Assessments are billed annually on the Non-Ad Valorem portion of your annual Property Tax Bill.

NUMBERED D DISTRICTS (RESIDENTIAL)

Districts 5 - 11 Budgets Reviewed and Approved by Board of Supervisors FISCAL YEAR 2014-2015 ADOPTED BUDGETS District Operating Debt Service Total

5 $3,359,444 $3,791,835 $7,151,279 6 $3,349,936 $8,287,874 $11,637,810 7 $2,003,120 $6,778,397 $8,781,517 8 $2,642,609 $11,587,354 $14,229,963 9 $3,263,250 $13,174,505 $16,437,755 10 $3,233,399 $11,665,657 $14,899,056 11 $45,149

• $45,149

Operating, Debt Service and Total Budget can not be compared between numbered

• districts. Multiple factors go into the budget/fiscal needs/requirements: Size of district,

number of homes, amount of infrastructure to maintain, years in existence, reserve levels, transfers to reserves, etc.

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Working Capital

RESERVES

General R & R

Villa Road R & R

Restricted Cap Proj 2013A - Phase I

Excess Revenue

Restricted Cap Proj 2013B - Phase II

Excess Revenue

DISTRICT # 5 - WORKING CAPITAL and R & R FUNDS BALANCES

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Working Capital

RESERVES

General R & R

Villa Road R & R

Working Capital/Reserves Grand Total

Restricted Capital Project 2013 -

Phase I Excess Revenue

DISTRICT # 6 - WORKING CAPITAL & R & R FUNDS BALANCES

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Amended Budget

Working Capital

2013-14 2014-15 2015-16 2016-17 2017-18 Beginning Balance 1,278,743 1,201,949 1,132,294 992,869 848,001 Deposits (5% Increase 13/14) 1,944,665 1,933,465 1,933,465 1,933,465 1,933,465 Expenditures - Operating 1,858,068 1,862,111 1,880,732 1,899,539 1,918,535 Capital Improvement Plan Expenditures *** 23,391 1,009 52,158 38,793 21,548 Transfer/ Deposit to R & R 140,000 140,000 140,000 140,000 140,000 Ending Balance 1,201,949 1,132,294 992,869 848,001 701,384

RESERVES

Amended Budget

General R & R

2013-14 2014-15 2015-16 2016-17 2017-18 Beginning Balance 727,606 797,606 867,606 937,606 1,007,606 Deposits 70,000 70,000 70,000 70,000 70,000 Capital Improvement Plan Expenditures *** Ending Balance 797,606 867,606 937,606 1,007,606 1,077,606 Amended Budget

Road R & R

2013-14 2014-15 2015-16 2016-17 2017-18 Beginning Balance 290,000 360,000 430,000 335,207 222,555 Deposits 70,000 70,000 70,000 70,000 70,000 Capital Improvement Plan Expenditures *** 164,793 182,652 37,127 Ending Balance 360,000 430,000 335,207 222,555 255,428 FY 13-14 Operating Budget 1,881,459 $ 3 Months 470,365 $ 4 Months 627,153 $ *** Capital Improvement Plan future year expenditures will be updated at a later date

DISTRICT # 7 - WORKING CAPITAL & R & R FUNDS BALANCES

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Amended Budget

Working Capital

2013-14 2014-15 2015-16 2016-17 2017-18 Beginning Balance 914,875 1,153,866 1,364,793 1,573,656 1,761,564 Deposits 2,867,473 2,853,536 2,853,536 2,853,536 2,853,536 Expenditures - Operating 2,113,916 2,122,192 2,143,414 2,164,848 2,186,497 Capital Improvement Plan Expenditures *** 14,566 20,417 1,259 780 11,591 Transfer/ Deposit to R&R 500,000 500,000 500,000 500,000 500,000 Ending Balance 1,153,866 1,364,793 1,573,656 1,761,564 1,917,012

RESERVES

Amended Budget

General R & R

2013-14 2014-15 2015-16 2016-17 2017-18 Beginning Balance 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 Deposits Capital Improvement Plan Expenditures *** Transfer/ Deposit to Road R & R Ending Balance 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000 Amended Budget

Roads R & R

2013-14 2014-15 2015-16 2016-17 2017-18 Beginning Balance 431,150 931,150 1,431,150 1,931,150 Deposits 500,000 500,000 500,000 500,000 500,000 Capital Improvement Plan Expenditures *** 68,850 52,239 Transfer/ Deposit to Road R & R Ending Balance 431,150 931,150 1,431,150 1,931,150 2,378,911 FY 13-14 Operating Budget 2,128,482 $ 3 Months 532,121 $ 4 Months 709,494 $ *** Capital Improvement Plan future year expenditures will be updated at a later date

DISTRICT # 8 - WORKING CAPITAL & R & R FUNDS BALANCES

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DISTRICT #9 - GENERAL FUND - WORKING CAPITAL & RESERVES

2012-13 Actual

( Per FY 12 - 13 Audit )

2013-14 Amended Budget 2014-15 Final Budget

Working Capital

Beginning Balance

1,237,324 1,672,151

Deposits

3,820,577 3,817,516

Expenditures

2,385,750 2,263,260

Transfer/Deposit to R&R

1,000,000 1,000,000

Ending Balance

1,237,324 1,672,151 2,226,407

RESERVES General R&R

Beginning Balance

1,700,000 2,700,000

Deposits

1,000,000 1,000,000

Expenditures Ending Balance

1,700,000 2,700,000 3,700,000

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2012-13 Actual

2013-14 Amended Budget 2014-15 Final Budget

Working Capital

Beginning Balance

308,636 663,421

Deposits

2,401,380 3,361,000

Expenditures

1,546,595 2,733,399

Transfers/Deposits to R&R

500,000 500,000

Ending Balance

308,636 663,421 791,022

RESERVES General R&R

Beginning Balance

500,000

Deposits

500,000 500,000

Expenditures Ending Balance

500,000 1,000,000 FY13-14 Operating Budget $1,546,595 3-Months $386,649 4-Months $515,532

DISTRICT #10 - WORKING CAPITAL & RESERVES

PROJECT WIDE FUND

THE MOST QUESTIONED…..AND MOST MISUNDERSTOOD!

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PROJECT WIDE FUND

HISTORY OF DEVELOPMENT IN THE VILLAGES Lessons learned North of CR466

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VCCDD AND DISTRICTS 1-4

PROJECT WIDE FUND

HISTORY OF DEVELOPMENT IN THE VILLAGES Improvement to Development process South of CR 466

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SLCDD, BCDD AND DISTRICTS 5-11 11

PROJECT WIDE INTERLOCAL AGREEMENT

• The Interlocal Agreement establishing a

Project Wide Fund provides a mechanism to fund and maintain certain infrastructure improvements (owned by Districts 5,6,7,8,9,10, SLCDD and BCDD) South of

• CR466. (District 11 will be added soon.)
• What does the Interlocal Agreement say

and what does it mean for the Districts south of CR466?

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PROJECT WIDE INTERLOCAL AGREEMENT

• Agreement dates back to August, 2003
• Agreement contemplated certain improvements and

facilities constructed by the CDDs would extend beyond the geographic boundaries of the District and would benefit all residents of the Community.

• Purpose was to enter into an Interlocal Agreement by

which expenses of maintaining those improvements and facilities were and will be shared equitably among all Districts.

• Additional contemplated benefits were economy of scale,

uniformity of approach to maintenance of infrastructure and shared risk exposure.

• Agreement also contemplated that as additional CDDs

were formed, those CDDs would become parties to the Agreement.

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PROJECT WIDE INTERLOCAL AGREEMENT

• What are the Project Wide

Improvements?

• How are the Costs Allocated?
• Who Manages the funds?

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PROJECT WIDE INTERLOCAL AGREEMENT

• What are the Project Wide

Improvements?

• Listed on “EXHIBIT A” of the

Agreement, the improvements include everything from maintenance of Road Right of Ways to stormwater pond maintenance.

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PROJECT WIDE AGREEMENT EXHIBIT A

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LANDSCAPED RIGHTS-OF-WAY INCLUDING STREET LIGHTING AND ASSOCIATED WALLS AND FENCING 1. County Road 466 2. County Road 466A from County Road 139 East to the Lake County line as each Phase of the 4-lane project is completed (less portions abutting Colony Plaza, Pinellas Plaza, and Colony Professional Plaza) 3. Rainey Trail 4. Stillwater Trail – between Morse Boulevard and Buena Vista Boulevard 5. Buena Vista Boulevard South of County Road 466 6. Morse Boulevard South of County Road 466 7. Old Mill Run from Buena Vista Boulevard east to the property line boundary of CDD No. 6 to the north and CDD

• No. 8 to the south.

8. The northerly ROW at State Road 44 adjacent to Villages of Wildwood DRI and Villages of Sumter DRI 9. That portion of County Road 44A lying adjacent to Villages

• f Wildwood DRI and Villages of Sumter DRI

10. Powell Road from northerly ROW at County Road 44A to northerly ROW at County Road 44 11. That portion of Colony Boulevard from the intersection of Morse Boulevard, to the west side of Sembler Way. ENTRY FEATURES 1. Morse Boulevard at (a) County Road 466, (b) County Road 466A, and (c) State Road 44 2. Belvedere Boulevard and County Road 466 3. Buena Vista Boulevard at (a) County Road 466, (b) County Road 466A, and (c) State Road 44 4. Canal Street and County Road 466A 5. Powell Road and State Road 44 OTHER 1. The Landing 2. The Lake Sumter Landing Lighthouse 3. Lake Sumter Landing Market Square 4. “The Villages” Welcome sign on County Road 466, County Road 466A and State Road 44 5. Paddock Square LAKES, SHORELINES, CONSERVATION, STORMWATER MANAGEMENT SYSTEM AND BUFFER AREAS 1. Dry Prairie- Miona Prairie Reserve 2. Unit 79 Kestrel Reserve- Gary Mark Kestrel Preserve 3. Liberty Park Gopher Tortoise Preserve 4. Lake Miona and Black Lake Conservation, Mitigation and Buffer Areas. 5. Maintenance obligation for the Stormwater Management System (SWMS). The SWMS includes Lake Sumter, the Stormwater Retention Basins (SRB), other Water Retention Areas (WRA), underground stormwater conveyance systems and similar areas conveyed to those Community Development Districts (CDD’s) or over which CDD’s have assumed maintenance but excluding such bleed down underground conveyance systems operated pursuant to the VWCA irrigation system and not part of the SWMS. 6. Sharon Rose Wiechens Preserve 7. Evans Prairie Conservation Area, and all other Conservation Areas, Reserves, Preserves, Mitigation Areas and other similar areas required by the Villages of Wildwood DRI and the Villages of Sumter DRI or required by government regulation of general application. MULTI MODAL TRANSPORTATION PATHS 1. Those transportation/multi-modal/ recreation/ golf cart paths and trails within the Project: but excluding (a) those trails/paths lying within the paved surface of a road right-of- way, and (b) golf cart paths and trails which are part of and necessary to play any particular golf course. TUNNELS 1. Morse Boulevard 2. Stillwater Trail 3. County Road 466 4. Buena Vista Boulevard 5. Belvedere Boulevard 6. County Road 466A 7. Rainey Trail 8. County Road 44A 9. Powell Road 10. Davok Road

PROJECT WIDE INTERLOCAL AGREEMENT

How are the Costs Allocated?

• Costs of maintaining the Project Wide

Improvements on Exhibit A are allocated among all the CDDs that are a part of the Project Wide Agreement.

• The COST to each District is the ALLOCATION of

the costs based upon the PROPORTION OF ASSESSABLE ACREAGE IN EACH DISTRICT to the TOTAL assessable acreage within the Project.

• For example, if one District has 20 Assessable

acres and assessable acreage for all Districts is 200, its portion is 10% of the total cost. 42

PROJECT WIDE INTERLOCAL AGREEMENT

Who Manages the funds?

• Interlocal Agreement provides that the SLCDD

shall coordinate and supervise the maintenance of Project Wide Improvements and is required to follow the procedures set forth in Florida Statutes in requesting proposals, bidding and entering into contracts for the maintenance services.

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HOWEVER –

• In October, 2012, the Villages Homeowners

Association (VHA) Board of Directors provided A RESOLUTION PROMULGATING THE CONCEPT OF A PROJECT WIDE FUND ADVISORY COMMITTEE to the SLCDD Board.

• As a result of the meeting between the VHA

and the SLCDD, staff was directed to develop an advisory committee and, based on meetings with the numbered CDDs 5-9, a Resolution was prepared and presented to the SLCDD which established the Project Wide Advisory Committee (PWAC).

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PWAC

Established by SLCDD Resolution 13-05 Consists of a member from each of the Numbered CDDs and the Brownwood Community Development District. Committee provides input, explores issues and provides advice and recommendations to the SLCDD on issues related to the maintenance of Project Wide Improvements

• Review and recommend annual budget
• Review budget to actual statements
• Review and recommend all capital expenditures
• Review and Recommend contract renewals and bid and

proposal awards

• Explore significant and important issues as they arise and

provide advice and recommendations

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PROJECT WIDE FUND BUDGET $8,923,018

MAJOR REVENUES:

$1,653,168 CDD 5 $1,834,994 CDD 6 $1,169,203 CDD 7 $1,312,696 CDD 8 $1,469,260 CDD 9 $1,736,468 CDD 10 $ 189,042 BCDD $ 94,852 SLCDD $ 310,843 Sumter County Road Agreement

Note: Revenues exceed expenditures, providing additional working capital funds.

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PROJECT WIDE FUND MAJOR EXPENDITURES

$ 734,902 Professional Services (Engineering, Management Fees, etc.) $ 961,276 Utilities (electricity, irrigation water, phones) $6,983,297 Repairs and Maintenance (Building/Structure Maintenance, Landscape Maintenance/Recurring, Landscape Maintenance/non-recurring, Irrigation Repair) $ 222,402 Capital Outlay Approximately 87% of the budget expenditures are for non- discretionary items such as plant replacement, mowing, irrigation, professional services, etc.

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PROJECT WIDE - WORKING CAPITAL AND RESERVE BALANCES

2012-13 Actual

2013-14 Amended Budget 2014-15 Final Budget

Working Capital

Beginning Balance

2,119,291 1,943,441

Deposits

9,141,361 9,780,234

Expenditures

9,317,211 8,923,018

Ending Balance

2,119,291 1,943,441 2,800,657

RESERVES

General R&R

Beginning Balance

2,112,220 2,112,220

Deposits Expenditures Ending Balance

2,112,220 2,112,220 2,112,220

PWAC MEMBERS

CDD 5 – Chuck Wildzunas (Alternate Jerry Knoll) CDD 6 – Peter Moeller (Chairman) CDD 7 – Ron Ruggeri (Alternate Jerry Vicenti) CDD 8 – Dennis Hayes CDD 9 – Steve Printz (Alternate Diane Spencer) CDD 10 – Donald Wiley 49

DISTRICTS 5,6,7,8,9 AND 10 FINANCIAL POSITION

• Each numbered district has

reserves and are financially strong.

• 5 year Capital Improvement

Program (either completed or in process for newer Districts)

• Investment Advisory

Committee

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CAPITAL IMPROVEMENT PLAN

What is it? What are the Benefits?

51

CA CAPIT PITAL IM AL IMPR PROVEMENT VEMENT PLAN PLAN

 What is a Capital Improvement Plan?

 A management tool to help plan and provide for the

sustainability of the Districts. The CIP provides a breakdown of capital and major maintenance projects for the next 5 years and how the projects will be funded.

 Benefits of a Capital Improvement Plan

 Provides an overview of planned capital/major projects and how

they will be funded.

 Supervisors able to set priorities and make informed decisions

with consideration of future projects

 Management, planning, budget and financial tool.  Allows residents to participate and become better informed on

what and when projects will be done.

 More efficient administration and coordination of capital/major

projects.

INVESTMENT M MANAGEMENT SERVICES EACH DISTRICT DEVELOPS ITS OWN INVESTMENT POLICY AND PARTICIPATES IN A DISTRICT - WIDE COMMITTEE

Operating Funds

• Citizens First Bank

$ 7,572,394

• State Board of Administration

$ 42,863,352

• Florida Municipal Investment Trust

$ 40,494,033

• Florida Local Government Investment Trust

$ 46,811,080 Trust Funds

• USB Federated

$ 56,245,891

• USB Fidelity

$ 68,316,883 TOTAL: $ 262,303,633

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

Over $262 million in bank, investment and trust accounts, as of September 30, 2014



The Investment Advisory Committee (IAC) was established in 2007.



The IAC consists of one representative from the numbered residential Districts 1-10, Sumter Landing Community Development District, Village Center Community Development District, North Sumter County Utility Dependent District and the Amenity Authority Committee.

SUMMARY

It is my pleasure to present this information to you this

• evening. Hopefully, your take away consists of the

following:

• The Board Supervisors have built upon the excellent

model developed through the CDDs and have taken critical steps to guarantee this community’s financial sustainability.

• In addition to the Supervisors, credit is also due to
• ur employees who approach stewardship with a

passion.

• Finall

Finally, , thank y thank you

• u to our

to our par partner tner, , the V the Villa illages ges Home Homeowner wners s Associa Association tion for th

• r their

eir suppor support, t, encour encouragement an gement and har d hard w d wor

• rk to

k to assur assure e the the futu future of e of this this unique place and unique place and as a as a model model for

• r
• ther
• thers

s to emula to emulate. te.

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