CLEARWATER CAY COMMUNITY DEVELOPMENT DISTRICTRECEIVED
Cleartater Cay JUN 2 2011
• ty <'4 3 .� . RECORDS AND Co L EGISLAT E SVCS DEPT
Deltrelcopmemat District
12051 Corporate Boulevard, Orlando, FL 32817
407- 382 - -3256
FAX 407- 382 -3254
June 17, 2011
Cynthia E. Goudeau
City Clerk
City of Clearwater
P.O. Box 4748
Clearwater, FL 33758 -4748
Re: Proposed FY 2012 Budget's
Dear Ms. Goudeau,
In accordance with Chapter 190.008 F.S., attached is a copy of the proposed FY
2012 Operations Budget and the proposed FY 2012 Debt Service for the
Clearwater Cay Community Development District which is located within the City
of Clearwater. This budget if for your review and comment, should you have any.
However, no action is necessary on your part.
If you should have any questions regarding this matter please feel free to contact
me at 407 - 382 -3256.
Sincerely,
Jennifer Glasgow
Fishkind and Associates, Inc.
District Accountant
12051 Corporate Blvd.
Orlando, Florida 32817
jenniferg @fishkind.com
r
EXHIBIT A
Clearwater Cay Community Development District
Proposed Fiscal Year 2012 Annual Operations & Maintenance Budget
Revenues
Working Capital
On Roll Operations & Maintenance
Carry Forward
Grand Venezia Revenue
Net Revenues
Actual Projected Total FY 2011 FY 2012
Through Through Projected Adopted Proposed
5.31.11 9.30.11 Through Budget Budget
9.30.11
$0.00 $0.00 $0.00 $25,000.00 $0.00
86,923.32 0.00 86,923.32 74,500.00 84,500.00
42,266.35 0.00 42,266.35 30,000.00 20,000.00
0.00 0.00 0.00 0.00 67,000.00
$129,189.67 $0.00 $129,189.67 $129,500.00 $171,500.00
General & Administrative Expenses
Supervisor Fees $5,800.00 $4,000.00 $9,800.00 $5,000.00 $10,000.00
Travel and Per Diem 639.85 400.00 1,039.85 1,500.00 1,000.00
Trustee Services 0.00 0.00 0.00 10,000.00 0.00
Management 16,666.64 8,333.36 25,000.00 25,000.00 25,000.00
Engineering 740.00 0.00 740.00 2,500.00 1,000.00
Dissemination Agent 5,000.00 0.00 5,000.00 5,000.00 5,000.00
District Counsel 8,217.50 15,000.00 23,217.50 35,000.00 35,000.00
Trustee Counsel 0.00 0.00 0.00 2,500.00 0.00
Bond Counsel 8,965.00 0.00 8,965.00 2,500.00 0.00
Assessment Administration 50.00 0.00 50.00 0.00 50.00
Trustee Services - Extraordinary 134.78 0.00 134.78 2,500.00 0.00
Audit 750.00 4,500.00 5,250.00 5,000.00 5,500.00
Telephone 237.39 150.00 387.39 100.00 400.00
Postage & Shipping 301.49 100.00 401.49 800.00 400.00
Copies 633.80 600.00 1,233.80 1,700.00 1,300.00
Legal Advertising 2,053.60 1,000.00 3,053.60 1,400.00 3,100.00
Bank Fees 66.17 75.00 141.17 320.00 150.00
Miscellaneous 4,390.00 0.00 4,390.00 24,000.00 12,225.00
Dues, Licenses, and Fees 175.00 0.00 175.00 480.00 175.00
General Insurance 4,130.00 0.00 4,130.00 4,200.00 4,200.00
Total General & Administrative Expenses 58,951.22 34,158.36 93,109.58 129,500.00 104,500.00
Grand Venezia Expenses
Landscape Maintenance and Irrigation 0.00 0.00 0.00 0.00 46,000.00
Tree Trimming 0.00 0.00 0.00 0.00 10,000.00
Mulch Replacement 0.00 0.00 0.00 0.00 8,000.00
Palm Tree Replacement 0.00 0.00 0.00 0.00 3,000.00
Total Grand Venezia Expenses 0.00 0.00 0.00 0.00 67,000.00
Total General & Adminstrative Expenses & $58,951.22 $34,158.36 $93,109.58 $129,500.00 $171,500.00
Grand Venezia Expenses
Clearwater Cay CDD
Proposed Debt Service Fund Budget
Series 2006A Special Assessment Bonds FY 2011 -2012
"Exhibit A, Cont."
REVENUES:
Special Assessments Series 2006A
TOTAL REVENUES
EXPENDITURES:
FY 2012
Proposed
Budget*
$960,365.16
$960,365.16
Series 2006A - Interest 11/1/11 $264,772.53
Series 2006A - Principal 5/1/12 $170,743.00
Series 2006A - Interest 5/1/12 $264,772.53
TOTAL EXPENDITURES $700,288.06
EXCESS REVENUES $260,077.10
November 1, 2012 Series 2006A Debt Service Payment $260,077.10
*Certain parcels assessed to secure Series 2006A Bond Debt have defaulted
on their bond debt service assessment payments and are currently the subject
of a District - initiated foreclosure suit. The bond debt assessments assigned to
the parcels in foreclosure have been removed from this bond debt service
budget while the foreclosure suit is proceeding.