Del Webb Bexley Community Development District
www.delwebbbexleycdd.org

Approved Proposed Budget for Fiscal Year 2024-2025

Table of Contents

Page
General Fund Budget for Fiscal Year 2024/20255	1
Reserve Fund Budget for Fiscal Year 2024/2025Reserve	3
Debt Service Fund Budget for Fiscal Year 2024/20255	4
Assessments Charts for Fiscal Year 2024/20255	5
General Fund Budget Account Category Descriptions	77
Reserve Fund Budget Account Category Descriptions	11
Debt Service Fund Budget Account Category Descriptions	12

Approved Proposed Budget
Del Webb Bexley Community Development District General Fund
Fiscal Year 2024/2025

Chart of Accounts Classification	

Actual YTD through 03/31/24	

Projected Annual Totals 2023/2024	

Annual Budget for 2023/2024	
Projected Budget variance for 2023/2024	

Budget for 2024/2025	
Budget Increase (Decrease) vs 2023/2024	

Comments	

Actual YTD 21/22	

Actual YTD 22/23	
1											
2	REVENUES										
3											
4	Interest Earnings										
5	Interest Earnings	$	-	$	-	$	-	$	-	$	-	$	-				
6	Special Assessments										
7	Tax Roll	$	251,329	$	251,329	$	250,233	$	1,096	$	375,877	$	125,644		$ 185,990	$  213,672	
8	Other Miscellaneous Revenues										
9	Miscellaneous Revenues	$	-	$	4,500	$	-	$	4,500	$	-	$	-		$  26,875	$	20,625	
10											
11	TOTAL REVENUES	$	251,329	$	255,829	$	250,233	$	5,596	$	375,877	$	125,644		$ 212,865	$  234,297	
12											
13	EXPENDITURES - ADMINISTRATIVE										
14											
15	Legislative										
16	Supervisor Fees	$	2,600	$	5,200	$	12,000	$	6,800	$	12,000	$	-	5 BOS @ 12 mtgs annually		$	200	
17	Financial & Administrative										
18	Accounting Services	$	9,960	$	19,920	$	19,921	$	1	$	19,921	$	-	No increase	$  18,972	$	18,972	
19	ADA Website Compliance	$	495	$	990	$	990	$	-	$	990	$	-	Per contract w/Vglobal	$	990	$	1,073	
20	Administrative Services	$	2,517	$	5,034	$	5,034	$	-	$	5,034	$	-	No increase	$	4,794	$	4,794	
21	Arbitrage Rebate Calculation	$	450	$	750	$	750	$	-	$	750	$	-		$	450	$	450	
22	Assessment Roll	$	5,462	$	5,462	$	5,462	$	-	$	5,462	$	-	No increase	$	5,202	$	5,202	
23	Auditing Services	$	-		$	3,800	$	3,800	$	3,800	$	-		$	3,575	$	-	
24	Disclosure Report	$	5,000	$	5,000	$	5,000	$	-	$	5,000	$	-		$	5,000	$	5,200	
25	District Engineer	$	2,520	$	5,040	$	10,000	$	4,960	$	15,000	$	5,000	New DE, BDI, per BOS	$  11,390	$	3,465	
26	District Management	$	11,139	$	22,278	$	22,277	$	(1)	$	22,277	$	-	No increase	$  21,215	$	21,216	
27	Dues, Licenses & Fees	$	175	$	175	$	325	$	150	$	325	$	-	Pasco Co. Property Appraiser fees	$	825	$	175	
28	Financial & Revenue Collections	$	1,986	$	3,972	$	3,973	$	1	$	3,973	$	-		$	3,784	$	3,934	
29	Legal Advertising	$	549	$	974	$	1,500	$	527	$	1,500	$	-		$	1,171	$	3,175	
30	Miscellaneous Mailings	$	-	$	-	$	100	$	100	$	1,050	$	950	Mailed assessments to residents of incrase	$	123	$	1,027	
31	Public Officials Liability Insurance	$	2,842	$	2,542	$	2,860	$	318	$	3,146	$	286	Per EGIS $3,126	$	2,542	$	2,733	
32	Trustees Fees	$	3,704	$	7,408	$	5,000	$	(2,408)	$	5,000	$	-		$	4,041	$	4,377	
33	Website Hosting, Maintenance, Backup (and Email)	$	600	$	1,050	$	1,200	$	150	$	1,200	$	-	Per contract RTS contract	$	1,200	$	1,200	
34	Legal Counsel	$	-									
35	District Counsel	$	7,469	$	14,938	$	17,000	$	2,062	$	17,000	$	-		$  10,450	$	7,718	
36											
37	Administrative Subtotal	$	57,468	$	100,733	$	117,192	$	16,460	$	123,428	$	6,236		$  95,724	$	84,911	
38											
39	EXPENDITURES - FIELD OPERATIONS										
40											
41	Stormwater Control										
42	Aquatic Maintenance	$	22,311	$	44,622	$	44,195	$	(427)	$	46,000	$	1,805	Advanced Auatics - $3,615/month (increase by 4%, but not in agreement)	$  36,734	$	54,640	
43	Fountain Maintenance	$	1,055	$	1,380	$	3,000	$	1,620	$	3,000	$	-		$	2,365	$	1,840	
44	Midge Fly Treatment	$	-	$	-	$	15,000	$	15,000	$	30,000	$	15,000	Per BOS			
45	Stormwater System Maintenance	$	-	$	-	$	-	$	-	$	50,000	$	50,000	New line item, DE and BOS approved			
46	Other Phyiscal Environment										
47	General Liability Insurance	$	3,475	$	3,475	$	4,176	$	701	$	4,779	$	603	Per EGIS $3,823	$	3,108	$	3,341	
48	Landscape - Mowing Cost Share w/HOA	$	21,915	$	43,830	$	55,000	$	11,170	$	57,000	$	2,000	Per contract w/HOA - any addt'l landscape	$  50,088	$	59,516	
49	Property Insurance	$	-	$	-	$	-	$	-	$	-	$	-	Discuss with Chair/Board	$	-	$	-	
50	Contingency										
51	Miscellaneous Contingency	$	-	$	-	$	11,670	$	11,670	$	61,670	$	50,000	Per BOS	$	2,720	$	2,026	
52											

Approved Proposed Budget
Del Webb Bexley Community Development District General Fund
Fiscal Year 2024/2025

Chart of Accounts Classification	

Actual YTD through 03/31/24	

Projected Annual Totals 2023/2024	

Annual Budget for 2023/2024	
Projected Budget variance for 2023/2024	

Budget for 2024/2025	
Budget Increase (Decrease) vs 2023/2024	

Comments	

Actual YTD 21/22	

Actual YTD 22/23	
53	Field Operations Subtotal	$	48,756	$	93,307	$	133,041	$	39,734	$	252,449	$	119,408		$  95,015	$  121,363	
56											
57	TOTAL EXPENDITURES	$	106,224	$	194,040	$	250,233	$	56,194	$	375,877	$	125,644		$ 190,739	$  206,274	
58											
59	EXCESS OF REVENUES OVER EXPENDITURES	$	145,105	$	61,790	$	-	$	61,790	$	-	$	-		$  22,126	$	28,023	

Approved Proposed Budget
Del Webb Bexley Community Development District	3
Reserve Fund Fiscal Year 2024/2025

	Chart of Accounts Classification	
Actual YTD through 03/31/24	
Annual Budget for 2023/2024	
Projected Budget variance for 2023/2024	
Budget for 2024/2025	
Budget Increase (Decrease) vs 2024/2025	

Comments	
1								
2	REVENUES							
3								
4	Special Assessments							
5	Interest Earnings							
6	Interest Earnings	$	-	$	-	$	-	$	-	$	-		
7	Tax Roll*	$	-	$	-	$	-	$	89,000	$	89,000		
8								
9	TOTAL REVENUES	$	-	$	-	$	-	$	89,000	$	89,000		
10								
11	EXPENDITURES							
12								
13	Contingency							
14	Capital Reserves	$	-	$	-	$	-	$	89,000	$	89,000		
15								
16	TOTAL EXPENDITURES	$	-	$	-	$	-	$	89,000	$	89,000		
17								
18	EXCESS OF REVENUES OVER EXPENDITURES	$	-	$	-	$	-	$	-	$	-		
19								

Del Webb Bexley Community Development District Debt Service
Fiscal Year 2024/2025	4	

Chart of Accounts Classification	Series 2018	

Budget for 2024/2025	
			
REVENUES			
Special Assessments			
Net Special Assessments (1)	$689,724.00	$689,724.00	
			
TOTAL REVENUES	$689,724.00	$689,724.00	

EXPENDITURES			
Administrative			
Debt Service Obligation	$689,724.00	$689,724.00	
Administrative Subtotal	$689,724.00	$689,724.00	
			
TOTAL EXPENDITURES	$689,724.00	$689,724.00	
			
EXCESS OF REVENUES OVER EXPENDITURES	$0.00	$0.00	

County Collection Costs (2%) and Early payment Discounts (4%)	6.0%

GROSS ASSESSMENTS	$733,125.00

Notes:
Tax Roll Collection Costs (2%) and Early Payment Discount (4%) for Pasco County is 6.0% of Tax Roll. Budgeted net of tax roll assessments. See Assessment Table.

(1) Maximum Annual Debt Service less any Prepaid Assessments Received

DEL WEBB BEXLEY COMMUNITY DEVELOPMENT DISTRICT	5
FISCAL YEAR 2024/2025 OPERATIONS AND MAINTENANCE TABLE	

2024/2025 O&M Budget:	$464,877.00	2023/2024 O&M Budget:	$250,233.25
Collection Cost Discount:	2%	$9,891.00	2024/2025 O&M Budget:	$464,877.00
Early Payment Discount:	4%	$19,782.00

2024/2025 Total:	$494,550.00	Total Difference	$214,643.75	
	
Lot Size	Assessment Breakdown

Series 2018 Debt Service
Single Family 40'
Operations/Maintenance

Total

Series 2018 Debt Service
Single Family 50'
Operations/Maintenance

Total

Series 2018 Debt Service
Single Family 65'
Operations/Maintenance

Total	Per Unit Annual Assessment Comparision
2023/2024	2024/2025		Proposed Increase / Decrease
$	%		
	
$680.00	$680.00
$313.18	$581.82		
$0.00	0.00%
$268.64	85.78%		
	$993.18	$1,261.82		$268.64	27.05%		
	
$850.00	$850.00
$313.18	$581.82		
$0.00	0.00%
$268.64	85.78%		
	$1,163.18	$1,431.82		$268.64	23.10%		
	
$1,105.00	$1,105.00
$313.18	$581.82		
$0.00	0.00%
$268.64	85.78%		
	$1,418.18	$1,686.82		$268.64	18.94%		

		DEL WEBB BEXLEY COMMUNITY DEVELOPMENT DISTRICT
FISCAL YEAR 2024/2025 O&M AND DEBT SERVICE ASSESSMENT SCHEDULE			6		
	
TOTAL O&M BUDGET COLLECTION COSTS @
EARLY PAYMENT DISCOUNTS @ TOTAL O&M ASSESSMENT		

2%
4%		
$464,877.00
$9,891.00
$19,782.00
$494,550.00							
	UNITS ASSESSED		ALLOCATION OF O&M ASSESSMENT		PER LOT ANNUAL ASSESSMENT		
	SERIES 2018 (1)
LOT SIZE	O&M
DEBT SERVICE		
EAU FACTOR	TOTAL EAU's		% TOTAL EAU's	TOTAL O&M BUDGET			SERIES 2018		
										O&M	DEBT SERVICE(2)	TOTAL (3)		
	Single Family 40'	231	230			
1.00	
231.00		
27.18%	
$134,401.24			
$581.82	$680.00	$1,261.82		
	Single Family 50'	413	412			1.00	413.00		48.59%	$240,293.12			$581.82	$850.00	$1,431.82		
	Single Family 65'	206	205			1.00	206.00		24.24%	$119,855.65			$581.82	$1,105.00	$1,686.82		
	Total Community	850	847				850.00	100.00%	$494,550.00					

LESS Pasco County Collection Costs (2%) and Early Payment Discounts (4%):

Net Revenue to be Collected:				

($29,673.00)

$464,877.00							

(1) Reflects the number of total lots with Series 2018 debt outstanding.

(2) Annual debt service assessment per lot adopted in connection with the Series 2018 bond issue. Annual assessment includes principal, interest, Pasco County collection costs (2%) and early payment discount of up to 4% if paid early.

(3) Annual assessment that will appear on November 2024 Pasco County property tax bill. Amount shown includes all applicable collection costs. Property owner is eligible for a discount of up to 4% if paid early.	

GENERAL FUND BUDGET ACCOUNT CATEGORY DESCRIPTION
The General Fund Budget Account Category Descriptions are subject to change at any time depending on its application to the District. Please note, not all General Fund Budget Account Category Descriptions are applicable to the District indicated above. Uses of the descriptions contained herein are intended for general reference.

REVENUES:

Tax Roll: The District levies Non-Ad Valorem Special Assessments on all of the assessable property within the District to pay for operating expenditures incurred during the Fiscal Year. The assessments may be collected in two ways. The first is by placing them on the County’s Tax Roll, to be collected with the County’s Annual Property Tax Billing. This method is only available to land properly platted within the time limits prescribed by the County.

Event Rental: The District may receive monies for event rentals for such things as weddings, birthday parties, etc.
Facilities Rentals: The District may receive monies for the rental of certain facilities by outside sources, for such items as office space, snack bar/restaurants etc.

EXPENDITURES – ADMINISTRATIVE:

Supervisor Fees: The District may compensate its supervisors within the appropriate statutory limits of
$200.00 maximum per meeting within an annual cap of $4,800.00 per supervisor.

Administrative Services: The District will incur expenditures for the day to today operation of District matters. These services include support for the District Management function, recording and preparation of meeting minutes, records retention and maintenance in accordance with Chapter 119, Florida Statutes, and the District’s adopted Rules of Procedure, preparation and delivery of agenda, overnight deliveries, facsimiles, and phone calls.
District Management: The District as required by statute, will contract with a firm to provide for the management and administration of the District’s day-to-day needs. These services include the conducting of board meetings, workshops, the overall administration of District functions, all required state, and local filings, preparation of the annual budget, purchasing, risk management, preparing various resolutions, and all other secretarial duties requested by the District throughout the year is also reflected in this amount.

District Engineer: The District’s engineer provides general engineering services to the District. Among these services are attendance at and preparation for monthly board meetings, review of construction invoices and all other engineering services requested by the district throughout the year.
Disclosure Report: The District is required to file quarterly and annual disclosure reports, as required in the District’s Trust Indenture, with the specified repositories. This is contracted out to a third party in compliance with the Trust Indenture.

Trustee’s Fees: The District will incur annual trustee’s fees upon the issuance of bonds for the oversight of the various accounts relating to the bond issues.
Assessment Roll: The District will contract with a firm to prepare, maintain and certify the assessment roll(s) and annually levy a non-ad Valorem assessment for operating and debt service expenses.
Financial & Revenue Collections: Services of the Collection Agent include all functions necessary for the timely billing and collection and reporting of District assessments in order to ensure adequate funds to meet the District’s debt service and operations and maintenance obligations. The Collection Agent also maintains and updates the District’s lien book(s) annually and provides for the release of liens on the property after the full collection of bond debt levied on particular properties.

Accounting Services: Services include the preparation and delivery of the District’s financial statements in accordance with Governmental Accounting Standards, accounts payable and accounts receivable functions, asset tracking, investment tracking, capital program administration and requisition processing, filing of annual reports required by the State of Florida and monitoring of trust account activity.
Auditing Services: The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting firm, once it reaches certain revenue and expenditure levels, or has issued bonds and incurred debt.
Arbitrage Rebate Calculation: The District is required to calculate the interest earned from bond proceeds each year pursuant to the Internal Revenue Code of 1986. The Rebate Analyst is required to verify that the District has not received earnings higher than the yield of the bonds.

Public Officials Liability Insurance: The District will incur expenditures for public officials’ liability insurance for the Board and Staff.
Legal Advertising: The District will incur expenditures related to legal advertising. The items for which the District will advertise include, but are not limited to meeting schedules, special meeting notices, and public hearings, bidding etc. for the District based on statutory guidelines

Bank Fees: The District will incur bank service charges during the year.

Dues, Licenses & Fees: The District is required to pay an annual fee to the Department of Economic Opportunity, along with other items which may require licenses or permits, etc.

Miscellaneous Fees: The District could incur miscellaneous throughout the year, which may not fit into any standard categories.

Website Hosting, Maintenance and Email: The District may incur fees as they relate to the development and ongoing maintenance of its own website along with possible email services if requested.
District Counsel: The District’s legal counsel provides general legal services to the District. Among these services are attendance at and preparation for monthly board meetings, review of operating and maintenance contracts and all other legal services requested by the district throughout the year.

EXPENDITURES - FIELD OPERATIONS:

Aquatic Maintenance: Expenses related to the care and maintenance of the lakes and ponds for the control of nuisance plant and algae species.

Fountain Service Repairs & Maintenance: The District may incur expenses related to maintaining the fountains within throughout the Parks & Recreational areas.

Lake/Pond Bank Maintenance: The District may incur expenditures to maintain lake banks, etc. for the ponds and lakes within the District’s boundaries, along with the planting of beneficial aquatic plants, stocking of fish, mowing and landscaping of the banks as the District determines necessary.
General Liability Insurance: The District will incur fees to insure items owned by the District for its general liability needs
Landscape Maintenance: The District will incur expenditures to maintain the rights-of-way, median strips, recreational facilities including pond banks, entryways, and similar planting areas within the District. These services include but are not limited to monthly landscape maintenance, fertilizer, pesticides, annuals, mulch, and irrigation repairs.
Miscellaneous Contingency: Monies collected and allocated for expenses that the District could incur throughout the year, which may not fit into any standard categories.

RESERVE FUND BUDGET ACCOUNT CATEGORY DESCRIPTION
The Reserve Fund Budget Account Category Descriptions are subject to change at any time depending on its application to the District. Please note, not all Reserve Fund Budget Account Category Descriptions are applicable to the District indicated above. Uses of the descriptions contained herein are intended for general reference.

REVENUES:

Tax Roll: The District levies Non-Ad Valorem Special Assessments on all of the assessable property within the District to pay for operating expenditures incurred during the Fiscal Year. The assessments may be collected in two ways. The first is by placing them on the County’s Tax Roll, to be collected with the County’s Annual Property Tax Billing. This method is only available to land properly platted within the time limits prescribed by the County.
Off Roll: For lands not on the tax roll and that is by way of a direct bill from the District to the appropriate property owner.
Developer Contributions: The District may enter into a funding agreement and receive certain prescribed dollars from the Developer to off-set expenditures of the District.

Miscellaneous Revenues: The District may receive monies for the sale or provision of electronic access cards, entry decals etc.

EXPENDITURES:

Capital Reserve: Monies collected and allocated for the future repair and replacement of various capital improvements such as club facilities, swimming pools, athletic courts, roads, etc.

Capital Outlay: Monies collected and allocated for various projects as they relate to public improvements.

DEBT SERVICE FUND BUDGET ACCOUNT CATEGORY DESCRIPTION
The Debt Service Fund Budget Account Category Descriptions are subject to change at any time depending on its application to the District. Please note, not all Debt Service Fund Budget Account Category Descriptions are applicable to the District indicated above. Uses of the descriptions contained herein are intended for general reference.

REVENUES:

Special Assessments: The District may levy special assessments to repay the debt incurred by the sale of bonds to raise working capital for certain public improvements. The assessments may be collected in the same fashion as described in the Operations and Maintenance Assessments.

EXPENDITURES – ADMINISTRATIVE:

Bank Fees: The District may incur bank service charges during the year.

Debt Service Obligation: This would a combination of the principal and interest payment to satisfy the annual repayment of the bond issue debt.