Adopted Budget
Fiscal Year 2021
Fiscal Year 2022

Siena North Community Development District

August 20, 2021

Siena North
Community Development District

FY2021
 	Adopted Budget	

FY2022
    Adopted Budget 

Developer Contributions

$23,075

$74,975

Total Revenues

 	$23,075 

 	$74,975 

Expenditures

Administrative
Engineering Fees Arbitrage Dissemination Agent Assessment Roll Attorney Fees Annual Audit Trustee Fees Management Fees Computer Time Telephone
Postage
Printing & Binding Insurance
Legal Advertising Other Current Charges Website Admin
Office Supplies
Dues, Licenses & Subscriptions

$200
$0
$0
$0
$4,000
$0
$0
$8,333
$167
$33
$67
$33
$3,300
$750
$100
$333
$33
$125

$200
$1,200
$1,200
$2,000
$12,000
$4,000
$3,500
$25,000
$500
$100
$200
$100
$5,500
$1,200
$200
$1,000
$100
$175

(1)

(1)

(1)

(1)

Total Administrative

$17,475

$58,175

Field
Landscape Maintenance Porter
Field Management
Total Field

$4,800
$800
$0

$14,400
$2,400
$0

$5,600

$16,800

Total Expenditures

 	$23,075 

 	$74,975 

Excess Revenues/Expenditures

 	$0 

 	$0 

(1)

Expenses related to the issuance of Bonds.

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Gross Assessment Less: Disc & Coll (5%)
Net Assessment
# Units Per Unit Net Assessment

$79,891.80 ($4,916.80)

$74,975.00
125
$599.80

Siena North
Community Development District
GENERAL FUND BUDGET

REVENUES:

Developer Contributions/Assessments
The District will levy a Non-Ad Valorem assessment on all the platted lots within the District to pay all of the operating expenses for the Fiscal Year in accordance with the adopted budget.

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 Agent
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.

Arbitrage
The District is required to have an annual arbitrage rebate calculation on the District’s Bonds. The District will contract with an independent auditing firm to perform the calculations.

Assessment Roll
Represents cost associated with annually levying and collection Non-Ad Valorem Assessments utilized to fund the operating and debt service cost of the District.

Attorney Fees
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.

Annual Audit
The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm.

Trustee Fees
The District bonds will be held and administered by a Trustee. This represents the trustee annual fee.

Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services – South Florida, LLC.

Computer Time
The District processes the financial activities, i.e. accounts payable, financials statements etc. on a mainframe computer leased by GMS-SF, LLC.

Telephone
Telephone and fax machine

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

Printing & Binding
Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc

Insurance
The District's General Liability & Public Officials Liability Insurance policy is with a qualified entity that specializes in providing insurance coverage to governmental agencies. The amount is based upon similar Community Development Districts.

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Siena North
Community Development District
GENERAL FUND BUDGET

Administrative: (continued)

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 Administration
Per Chapter 2014-22, Laws of Florida, 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 monthly.

Office Supplies
Miscellaneous office supplies

Dues, Licenses & Subscriptions
The District is required to pay an annual fee to the Department of Economic Opportunity for $175. This is the only expense under this category for the District.

Field:

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

Landscape Maintenance
The District will enter into a contract for the monthly maintenance of common areas.

Porter Service
The cost associated with any general maintenance services.

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