Del Webb Bexley Community Development District
www.delwebbbexleycdd.org

Adopted Budget for
Fiscal Year 2024/2025

Table of Contents

Page
General Fund Budget for Fiscal Year 2024/2025	3
Reserve Fund Budget for Fiscal Year 2024/2025	4
Debt Service Fund Budget for Fiscal Year 2024/2025	5
Assessments Charts for Fiscal Year 2024/2025	7
General Fund Budget Account Category Descriptions	8
Reserve Fund Budget Account Category Descriptions	13
Debt Service Fund Budget Account Category Descriptions	14

3

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

Chart of Accounts Classification	

Budget for 2024/2025	
		
REVENUES		
		
Interest Earnings		
Interest Earnings	$	-	
Special Assessments		
Tax Roll	$	375,877	
Other Miscellaneous Revenues		
Miscellaneous Revenues	$	-	
		
TOTAL REVENUES	$	375,877	
		
EXPENDITURES - ADMINISTRATIVE		
		
Legislative		
Supervisor Fees	$	12,000	
Financial & Administrative		
Accounting Services	$	19,921	
ADA Website Compliance	$	990	
Administrative Services	$	5,034	
Arbitrage Rebate Calculation	$	750	
Assessment Roll	$	5,462	
Auditing Services	$	3,800	
Disclosure Report	$	5,000	
District Engineer	$	15,000	
District Management	$	22,277	
Dues, Licenses & Fees	$	325	
Financial & Revenue Collections	$	3,973	
Legal Advertising	$	1,500	
Miscellaneous Mailings	$	1,050	
Public Officials Liability Insurance	$	3,146	
Trustees Fees	$	5,000	
Website Hosting, Maintenance, Backup (and Email)	$	1,200	
Legal Counsel		
District Counsel	$	17,000	
		
Administrative Subtotal	$	123,428	
		
EXPENDITURES - FIELD OPERATIONS		
		
Stormwater Control		
Aquatic Maintenance	$	46,000	
Fountain Maintenance	$	3,000	
Midge Fly Treatment	$	30,000	
Stormwater System Maintenance	$	50,000	
Other Phyiscal Environment		
General Liability Insurance	$	4,779	
Landscape - Mowing Cost Share w/HOA	$	57,000	
Property Insurance	$	-	
Contingency		
Miscellaneous Contingency	$	61,670	
		
Field Operations Subtotal	$	252,449	
		
TOTAL EXPENDITURES	$	375,877	
		
EXCESS OF REVENUES OVER EXPENDITURES	$	-	

Adopted Budget	4
Del Webb Bexley Community Development District Reserve Fund
Fiscal Year 2024/2025

Chart of Accounts Classification	

Budget for 2024/2025	
		
REVENUES		
		
Special Assessments		
Interest Earnings		
Interest Earnings	$	-	
Tax Roll*	$	89,000	
		
TOTAL REVENUES	$	89,000	
		
EXPENDITURES		
		
Contingency		
Capital Reserves	$	89,000	
		
TOTAL EXPENDITURES	$	89,000	
		
EXCESS OF REVENUES OVER EXPENDITURES	$	-	

5
Del Webb Bexley Community Development District Debt Service
Fiscal Year 2024/2025	

Chart of Accounts Classification	

Series 2018	

Budget for 2024/2025	
			
REVENUES			
Special Assessments			
Net Special Assessments (1)	$688,924.32	$688,924.32	
			
TOTAL REVENUES	$688,924.32	$688,924.32	

EXPENDITURES			
Administrative			
Debt Service Obligation	$688,924.32	$688,924.32	
Administrative Subtotal	$688,924.32	$688,924.32	
			
TOTAL EXPENDITURES	$688,924.32	$688,924.32	
			
EXCESS OF REVENUES OVER EXPENDITURES	$0.00	$0.00	

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

GROSS ASSESSMENTS	$732,275.00

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

6
DEL WEBB BEXLEY COMMUNITY DEVELOPMENT DISTRICT 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%		

7

DEL WEBB BEXLEY COMMUNITY DEVELOPMENT DISTRICT
FISCAL YEAR 2024/2025 O&M AND DEBT SERVICE ASSESSMENT SCHEDULE	

TOTAL O&M BUDGET	$464,877.00
COLLECTION COSTS @	2%	$9,891.00
EARLY PAYMENT DISCOUNTS @	4%	$19,782.00

TOTAL O&M ASSESSMENT	$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	411			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	846				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.	

8

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.

9

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.

10

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:
Security Services and Patrols: The District may wish to contract with a private company to provide security for the District.
Electric Utility Services: The District will incur electric utility expenditures for general purposes such as irrigation timers, lift station pumps, fountains, etc.

Street Lights: The District may have expenditures relating to street lights throughout the community. These may be restricted to main arterial roads or in some cases to all street lights within the District’s boundaries.
Utility - Recreation Facility: The District may budget separately for its recreation and or amenity electric separately.
Gas Utility Services: The District may incur gas utility expenditures related to district operations at its facilities such as pool heat etc.
Garbage - Recreation Facility: The District will incur expenditures related to the removal of garbage and solid waste.
Solid Waste Assessment Fee: The District may have an assessment levied by another local government for solid waste, etc.

Water-Sewer Utility Services: The District will incur water/sewer utility expenditures related to district operations.
Utility - Reclaimed: The District may incur expenses related to the use of reclaimed water for irrigation.

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.

Wetland Monitoring & Maintenance: The District may be required to provide for certain types of monitoring and maintenance activities for various wetlands and waterways by other governmental entities.

11

Mitigation Area Monitoring & Maintenance: The District may be required to provide for certain types of monitoring and maintenance activities for various mitigation areas by other governmental entities.
Aquatic Plant Replacement: The expenses related to replacing beneficial aquatic plants, which may or may not have been required by other governmental entities.
General Liability Insurance: The District will incur fees to insure items owned by the District for its general liability needs
Property Insurance: The District will incur fees to insure items owned by the District for its property needs

Entry and Walls Maintenance: The District will incur expenditures to maintain the entry monuments and the fencing.
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.

Irrigation Maintenance: The District will incur expenditures related to the maintenance of the irrigation systems.
Irrigation Repairs: The District will incur expenditures related to repairs of the irrigation systems.

Landscape Replacement: Expenditures related to replacement of turf, trees, shrubs etc.

Field Services: The District may contract for field management services to provide landscape maintenance oversight.
Miscellaneous Fees: The District may incur miscellaneous expenses that do not readily fit into defined categories in field operations.

Employees - Salaries: The District may incur expenses for employees/staff members needed for the recreational facilities such as Clubhouse Staff.
Management Contract: The District may contract with a firm to provide for the oversight of its recreation facilities.
Maintenance & Repair: The District may incur expenses to maintain its recreation facilities.

Facility Supplies: The District may have facilities that required various supplies to operate.

Telephone, Fax, Internet: The District may incur telephone, fax and internet expenses related to the recreational facilities.
Office Supplies: The District may have an office in its facilities that requires various office-related supplies.

12

Clubhouse - Facility Janitorial Service: Expenses related to the cleaning of the facility and related supplies.

Pool Service Contract: Expenses related to the maintenance of swimming pools and other water features.

Pool Repairs: Expenses related to the repair of swimming pools and other water features.

Security System Monitoring & Maintenance: The District may wish to install a security system for the clubhouse
Clubhouse Miscellaneous Expense: Expenses which may not fit into a defined category in this section of the budget
Athletic/Park Court/Field Repairs: Expense related to any facilities such as tennis, basketball etc.

Special Events: Expenses related to functions such as holiday events for the public enjoyment

Miscellaneous Fees: Monies collected and allocated for fees that the District could incur throughout the year, which may not fit into any standard categories.
Miscellaneous Contingency: Monies collected and allocated for expenses that the District could incur throughout the year, which may not fit into any standard categories.
Capital Outlay: Monies collected and allocated for various projects as they relate to public improvements.

13

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.

14

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.