Approved Proposed Budget	
Fiscal Year 2024	

Enclave at Black Point Marina	
Community Development District	

May 11, 2023

Enclave at Black Point Marina
Community Development District

TABLE OF CONTENTS

General Fund
Budget	Page 1
Budget Narrative	Page 2-4

Debt Service Fund

Budget	Page 5
Series 2007A Amortization Schedule	Page 6

Community Development District									General Fund	
	Adopted		Actual		Projected		Total		Proposed	
	FY2023		thru		Next		Projected at		FY2024	
 Description			Budget				4/30/23				5 Months				9/30/23				Budget		
Revenues										
Maintenance Assessments	$214,320		$211,223		$3,097		$214,320		$214,320	
Assigned Fund Balance	$59,329		$87,002		$0		$87,002		$59,177	
Total Revenues		$273,649 			$298,225 			$3,097 			$301,322 			$273,497 	
Expenditures										
Administrative										
Supervisor Fees	$6,000		$2,800		$2,000		$4,800		$6,000	
FICA Taxes	$459		$214		$153		$367		$459	
Engineering	$5,000		$0		$3,000		$3,000		$5,000	
Dissemination	$2,500		$1,458		$1,042		$2,500		$2,500	
Attorney	$20,000		$5,655		$5,655		$11,310		$20,000	
Annual Audit	$5,000		$3,300		$0		$3,300		$3,400	
Trustee Fees	$5,000		$0		$5,000		$5,000		$5,000	
Management Fees	$35,704		$20,827		$14,876		$35,703		$36,776	
Computer Time	$1,000		$583		$417		$1,000		$1,000	
Telephone	$150		$0		$50		$50		$150	
Postage	$500		$29		$58		$87		$500	
Meeting Room Rental	$360		$0		$250		$250		$360	
Insurance	$9,040		$8,098		$0		$8,098		$9,040	
Printing & Binding	$750		$331		$236		$568		$750	
Legal Advertising	$1,000		$0		$750		$750		$1,000	
Other Current Charges	$500		$0		$500		$500		$500	
Website Compliance	$1,000		$583		$417		$1,000		$1,000	
Office Supplies	$500		$66		$132		$198		$500	
Dues, Licenses & Subscriptions	$175		$175		$0		$175		$175	
Capital Outlay		$250 			$0 			$250 			$250 			$250 	
Administrative Expenses		$94,888 			$44,120 			$34,786 			$78,906 			$94,360 	
Field										
Field Manager	$12,600		$7,350		$5,250		$12,600		$12,978	
Security	$24,000		$13,374		$9,553		$22,927		$24,000	
Internet	$1,800		$843		$602		$1,445		$1,800	
Virtual Guard Monitoring	$9,500		$0		$5,640		$5,640		$9,500	
Landscape Maintenance	$30,000		$17,389		$12,421		$29,810		$30,000	
Landscape Replacement	$20,000		$7,810		$10,934		$18,744		$20,000	
Lake/Canal Maintenance	$10,000		$1,767		$1,842		$3,609		$10,000	
Fountains Maintenance	$7,500		$0		$5,000		$5,000		$7,500	
Repairs & Maintenance	$5,000		$200		$4,000		$4,200		$5,000	
Irrigation Repairs	$5,000		$0		$5,000		$5,000		$5,000	
Pressure Washing	$5,000		$4,200		$500		$4,700		$5,000	
Porter Service	$15,360		$8,960		$6,400		$15,360		$15,360	
Capital Outlay/Fountain Replacement	$20,000		$18,374		$5,000		$23,374		$20,000	
Contingency	$12,000		$8,330		$2,500		$10,830		$12,000	
Property Insurance		$1,000 			$783 			$0 			$783 			$1,000 	
Field Expenses		$178,760 			$89,380 			$74,642 			$163,239 			$179,138 	
Total Expenditures		$273,648 			$133,500 			$109,428 			$242,145 			$273,498 	
Unassigned Fund Balance		$0 			$164,725 			($106,331) 			$59,177 			($0) 	
						FY2022				FY2023				FY2024		

# Units	
240	
240	
240	
Gross Assessments per Unit	$940	$940	$940	
Total Gross Assessments		$225,600 		$225,600 		$225,600 	
Less: 6% Discount/Collections		($11,280) 		($11,280) 		($11,280) 	
Net Assessments		$214,320 		$214,320 		$214,320 	

Page 7

REVENUES:

Maintenance Assessments

The District will levy a Non-Ad Valorem assessment on all the platted lots within the District to pay the operating expenses for the Fiscal Year in accordance with the adopted budget. The proposed assessment for Operations and Maintenance is $940 per unit.

EXPENDITURES:

Administrative:

Engineering Fees

The District's engineer will be providing general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review invoices, etc.

Dissemination

The District is required by the Security and Exchange Commission to comply with Rule 15(c)(2)-12(b)(5), which relates to additional reporting requirements for un-rated bond issues.

Attorney

The District's legal counsel will be providing general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating & maintenance contracts, etc. The District has contracted with Billing, Cochran, Heath, Lyles, Mauro & Anderson, PA. for these services.

Annual Audit

The District is required to annually conduct an audit of its financial records by an Independent Certified Public Accounting Firm. The fee is based on similar Community Development Districts.

Trustee Fees

The District issued Series 2017 bonds which are held by Wells Fargo Bank NA as trustee. The amount of the fees is based on the agreement between Trustee and the District.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services – South Florida, LLC. These services are further outlined in Exhibit "A" of the Management Agreement.

Computer Time

The District processes all its financial activities, i.e. accounts payable, financial statements, etc. on a main frame computer leased by Governmental Management Services – South Florida, LLC.

Telephone

Telephone and fax machine

Postage

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

Administrative: (continued) Insurance
The District's General Liability & Public Officials Liability Insurance policy is with Preferred Governmental Insurance Trust. PGIT specializes in providing insurance coverage to governmental agencies. The amount is based upon similar Community Development Districts.

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 that incurred during the year.

Website Compliance

Per Section 189.069 F.S., all Districts must have a website to provide detailed information on the CDD as well as links to useful websites regarding Compliance issues. This website will be maintained by GMS-SF, LLC and updated as required by the Statute.

Office Supplies

Miscellaneous office supplies.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Department of Community Affairs for $175. This is the only expense under this category for the District.

Capital Outlay

Represents any minor capital expenditures the District may need to make during the Fiscal Year such as a file cabinet for District files.

Field:

Field Manager

The supervision and on-site management of the District. The responsibilities include reviewing contracts and other maintenance related items.

Security

The District will have Off-Duty Miami-Dade Police conducting paroles of the community.

Landscape Maintenance

The District has contracted Tony’s Nursery & Garden for the monthly maintenance of common areas.

Landscape Replacement

The cost associated with any replacement of landscaping during the year.

Field: (continued) Lake/Canal Maintenance
The District has contracted with The Lake Doctors for the monthly maintenance of the three (3) District lakes and canal.

Fountains

The District has contracted with The Lake Doctors for repairs and maintenance of the District fountains.

Repairs & Maintenance

Any miscellaneous repairs not included in another budget line item.

Porter Services

The District has contracted with Tony’s Nursery & Garden for these services.

Contingency

Represents any unforeseen expenditures the District may incur during the Fiscal Year.

Community Development District	Debt Service Fund
Series 2017

 Description			Adopted FY2023
	Budget			Actual thru
	4/30/23			Projected Next
	5 Months			Total Projected at
	9/30/23			Proposed FY2024
	Budget		

REVENUES:											
Carry Forward Surplus - A		$123,681		$122,357		$0		$122,357		$134,247	
Interest Income - A		$0		$6,876		$1,500		$8,376		$0	
Special Assessments - A		$227,026		$226,054		$972		$227,026		$227,026	
TOTAL REVENUES			$350,707 			$355,287 			$2,472 			$357,759 			$361,273 	

(1)

EXPENDITURES:

Series 2017
Interest - 11/1	$46,756		$46,756		$0		$46,756		$44,806	
Interest - 5/1	$46,756		$0		$46,756		$46,756		$44,806	
Principal - 5/1	$130,000		$0		$130,000		$130,000		$130,000	
TOTAL EXPENDITURES		$223,513 			$46,756 			$176,756 			$223,513 			$219,613 	
EXCESS REVENUES		$127,195 			$308,531 			($174,284) 			$134,247 			$141,660 	

Interest Payment A - 11/1/24	$42,856

(1) Carry Forward Surplus is net of Reserve Fund.

	FY2022			FY2023			FY2024	

# Units	240	240	240	
Gross Assessments per Unit	$1,006	$1,006	$1,006	
Total Gross Assessments		$241,517 		$241,517 		$241,517 	
Less: 6% Discount/Collections		($14,491) 		($14,491) 		($14,491) 	
Net Assessments		$227,026 		$227,026 		$227,026 	

Community Development District	Series 2017, Special Assessment Refunding and Improvement Bonds
Amortization Schedule

	DATE			PRINCIPAL
	BALANCE			
	INTEREST			
	PRINCIPAL			
	TOTAL		
1-Nov-17		$3,085,000.00		$37,222.71		$0.00			
1-May-18		$3,085,000.00		$54,918.75		$110,000.00		$202,141.46	
1-Nov-18		$2,975,000.00		$53,956.25		$0.00			
1-May-19		$2,975,000.00		$53,956.25		$115,000.00		$222,912.50	
1-Nov-19		$2,860,000.00		$52,231.25		$0.00			
1-May-20		$2,860,000.00		$52,231.25		$120,000.00		$224,462.50	
1-Nov-20		$2,740,000.00		$50,431.25		$0.00			
1-May-21		$2,740,000.00		$50,431.25		$120,000.00		$220,862.50	
1-Nov-21		$2,620,000.00		$48,631.25		$0.00			
1-May-22		$2,620,000.00		$48,631.25		$125,000.00		$222,262.50	
1-Nov-22		$2,495,000.00		$46,756.25		$0.00			
1-May-23		$2,495,000.00		$46,756.25		$130,000.00		$223,512.50	
1-Nov-23		$2,365,000.00		$44,806.25		$0.00			
1-May-24		$2,365,000.00		$44,806.25		$130,000.00		$219,612.50	
1-Nov-24		$2,235,000.00		$42,856.25		$0.00			
1-May-25		$2,235,000.00		$42,856.25		$135,000.00		$220,712.50	
1-Nov-25		$2,100,000.00		$40,662.50		$0.00			
1-May-26		$2,100,000.00		$40,662.50		$140,000.00		$221,325.00	
1-Nov-26		$1,960,000.00		$38,212.50		$0.00			
1-May-27		$1,960,000.00		$38,212.50		$145,000.00		$221,425.00	
1-Nov-27		$1,815,000.00		$35,493.75		$0.00			
1-May-28		$1,815,000.00		$35,493.75		$150,000.00		$220,987.50	
1-Nov-28		$1,665,000.00		$32,681.25		$0.00			
1-May-29		$1,665,000.00		$32,681.25		$160,000.00		$225,362.50	
1-Nov-29		$1,505,000.00		$29,681.25		$0.00			
1-May-30		$1,505,000.00		$29,681.25		$165,000.00		$224,362.50	
1-Nov-30		$1,340,000.00		$26,587.50		$0.00			
1-May-31		$1,340,000.00		$26,587.50		$170,000.00		$223,175.00	
1-Nov-31		$1,170,000.00		$23,400.00		$0.00			
1-May-32		$1,170,000.00		$23,400.00		$175,000.00		$221,800.00	
1-Nov-32		$995,000.00		$19,900.00		$0.00			
1-May-33		$995,000.00		$19,900.00		$185,000.00		$224,800.00	
1-Nov-33		$810,000.00		$16,200.00		$0.00			
1-May-34		$810,000.00		$16,200.00		$190,000.00		$222,400.00	
1-Nov-35		$620,000.00		$12,400.00		$0.00			
1-May-35		$620,000.00		$12,400.00		$200,000.00		$224,800.00	
1-Nov-35		$420,000.00		$8,400.00		$0.00			
1-May-36		$420,000.00		$8,400.00		$205,000.00		$221,800.00	
1-Nov-36		$215,000.00		$4,300.00		$0.00			
1-May-37		$215,000.00		$4,300.00		$215,000.00		$223,600.00	
					$1,347,316.46 			$3,085,000.00 			$4,432,316.46