Westwood/OCC Community Development District

Adopted Budget
FY 2019 & FY 2020

Table of Contents

1	 	General Fund

2-3	 	General Fund Narrative

Westwood/OCC
Community Development District	

Adopted Budget		

Adopted Budget	
Description	FY2019		FY2020	

Revenues				
Developer Contributions	$28,156		$101,918	
Total Revenues	 	$28,156 		 	$101,918 	

Expenditures				
Administrative				
Supervisor Fees	$0		$12,000	
FICA Expense	$0		$918	
Engineering*	$3,000		$12,000	
Attorney*	$6,250		$25,000	
Management Fees*	$8,750		$35,000	
Website Creation	$2,375		$0	
Information Technology*	$300		$2,400	
Telephone*	$75		$300	
Postage*	$250		$1,000	
Insurance*	$1,375		$5,500	
Printing & Binding*	$250		$1,000	
Legal Advertising	$5,000		$5,000	
Other Current Charges*	$250		$1,000	
Office Supplies*	$156		$625	
Dues, Licenses & Subscriptions	$125		$175	
Total Expenditures	 	$28,156 		 	$101,918 	
				
Excess Revenues/(Expenditures)	 	$0 		 	$0 	

*FY19 Prorated amount represents 3 months of fiscal year.				

Westwood/OCC
Community Development District
GENERAL FUND BUDGET

REVENUES:

Developer Contributions

The District will enter into a Funding Agreement with the Developer to fund the General Fund expenditures 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. The amount is based on 5 supervisors attending 12 meetings during the fiscal year.

FICA Expense

Represents the Employer’s share of Social Security and Medicare taxes withheld from Board of Supervisor 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, etc.

Attorney

The District's legal counsel will be providing general legal services to the District,
e.g. attendance and preparation for monthly meetings, preparation and review of agreements, resolutions, etc.

Management Fees

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

Website Creation

Represents an estimated cost to create the initial District website and ensure District meets ADA compliance guidelines.

Westwood/OCC
Community Development District
GENERAL FUND BUDGET

Information Technology

Represents costs related to the District’s accounting and information systems, District’s website creation and maintenance, electronic compliance with Florida Statutes and other electronic data requirements.

Telephone

Telephone and fax machine.

Postage

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

Insurance

The District’s general liability, public officials liability 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

Miscellaneous office supplies.

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.