Founders Ridge
Community Development District

Proposed Budget
FY2023

6M3

Table of Contents

1		General Fund

2-4		General Fund Narrative

Founders Ridge
Community Development District Proposed Budget
General Fund

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2022	3/31/22	6 Months	9/30/22	FY2023	

Revenues						
Developer Contributions	$	41,875	$	13,958	$	19,467	$	33,425	$	42,156	
Carryfoward Surplus	$	-	$	2,425	$	-	$	2,425	$	2,425	
Total Revenues	$	41,875	$	16,383	$	19,467	$	35,850	$	44,581	

Expenditures						
General & Administrative						
Supervisors Fees	$	4,000	$	-	$	-	$	-	$	4,000	
FICA Expense	$	306	$	-	$	-	$	-	$	306	
Engineering	$	2,000	$	-	$	-	$	-	$	2,000	
Attorney	$	6,000	$	940	$	4,047	$	4,986	$	6,000	
Annual Audit	$	3,500	$	-	$	3,000	$	3,000	$	3,500	
Management Fees	$	15,000	$	7,500	$	7,500	$	15,000	$	15,000	
Information Technology	$	1,200	$	600	$	600	$	1,200	$	1,200	
Website Maintenance	$	250	$	125	$	125	$	250	$	250	
Telephone	$	200	$	-	$	-	$	-	$	200	
Postage	$	1,000	$	5	$	10	$	15	$	1,000	
Insurance	$	5,625	$	5,250	$	-	$	5,250	$	5,906	
Printing & Binding	$	1,000	$	-	$	68	$	68	$	1,000	
Legal Advertising	$	1,000	$	-	$	765	$	765	$	1,000	
Other Current Charges	$	300	$	-	$	69	$	69	$	300	
Office Supplies	$	319	$	0	$	26	$	26	$	319	
Dues, Licenses, & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total Expenditures	$	41,875	$	14,595	$	16,210	$	30,804	$	42,156	

Other Financing Uses						
Settlement Allocation	$	-	$	-	$	2,425	$	2,425	$	2,425	
Total Other Financing Uses	$	-	$	-	$	2,425	$	2,425	$	2,425	
						
Total Expenditures & Other Financing Uses	$	41,875	$	14,595	$	18,635	$	33,229	$	44,581	
						
Net Change in Fund Balance	$	-	$	1,789	$	832	$	2,621	$	-	

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:

Supervisors 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 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. as directed by the Board of Supervisors and the District Manager.

Annual Audit

The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm. The District is contracted with Grau & Associates.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-Central Florida, LLC. The services include but are not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reporting, etc. The District is contracted with Governmental Management Services – Central Florida LLC.

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. The District is contracted with Governmental Management Services
– Central Florida LLC.

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. The District is contracted with Governmental Management Services.

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 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 Board meetings, public hearings, etc in a newspaper of general circulation.

Other Current Charges

Bank charges and any other miscellaneous expenses incurred during the fiscal 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.

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.