Adopted Budget
Fiscal Year 2016

Lake Ashton II Community Development District

August 14, 2015

Lake Ashton II
Community Development District

TABLE OF CONTENTS

General Fund Budget Narrative
Debt Service Fund Budget- Series2005A
Amortization Schedule- 2005A
Budget- Series2006A Amortization Schedule- 2006A

Page 1 Page2-5

Page6 Pagel
PageB Page9

 	 	 	 	

Lake Ashton II

Community Development District	General Fund
Adopted	Actual	Projected		Total	Adopted Budget		Thro		Next	Projected		Budget
Descrl[!_Hon	FY2015	613012015	3Monlhs	913012015	FY2016

Revenues

so

Spedal Assessments• Tax Collector	S743,486	S765,021	S1,971	S766,992	S743,486

S54,410
Sl,133,446

S54,410
$1,136,065

so	so

Assessments - Direct	S515,53I	S/23,756		S123,756	S515,531 Miscellaneous Revenues		S190,259	S648	Sl90,907

Carry Forward Surplus	so

TOTAl RCVfNUCS	Sl,259,017
expenditures t!.dministralive
Engineering	$2,000
Arbitrage Dissemination
Attorney	S30,000

so
$2,619

Sl.000

S3,750 S6.000

S4,986

so so

S206,358
Sl,465,376

swoo

S3,750

S2,500

S2,000

S6,000

$6,000
$12,326	$30,000

Annual Audit	S5,000	ss.ooo	so	S5,000	$5,200

$6,100
S47,408

S35.556

Sn852

Trustee Fees	S/2,714	S6,IOO	so

so	so	so	so

Management Fees Computer Time Website compliance
Telephone	SIOO	$10	$30

$6,500

$47,408

$50

Printing Ii Binding

Postage

$107
$600	$904	$171

$1,000

Insurance	$28,839	$0	$28,839

Lego/ Adverlising	S2,250	$740	$517
Other Current Charges	S200
Office Supplies
Dues, Licenses 8 Subscriplions	Sl75

S19,469

TOTALADMINISTRATIVE EXPENDITURES	$139,935
Mainternm.ce

$0
$0

Salaries 8 wages• HFC	$0	$35.320

$1,500

$135,871

SBl,984

FICA
Health Insurance Coverage

$2,702	Sl,676

$7,935

Field Management Services	$328,700	$109,567	$0 E:xerdse Instructors		$0
Gate Attendants	$174,000	$118,419

$10,800

$0
$145,000

S2,587

Security Services	so
Refuse	$3,100
Pest Control	$1,650
Telephonellnlernet	$12,000
Electric	$120,000	$77,583
Gas	$65,000
Water	$20,000

$269
$375
$3,975

$6,210

$4,000
$2,700
$16,000
$120,000

$24,500

$55,000

W.C. Insurance	$0
Maintenance	S40.000
Cleonlng Services	S25.680

Plant Replacement

Landscape Maintenance	$189,000	$124,528 Irrigation Repair5		$0		$0

$0	$1,915	$2,000
S40,000	$40,000
$25,680
S160,531	S144,012
$0	$5.000

$0	$0	$0	$0	$10,000

Pool Maintenance	$22,000	$1t842 Lake Maintenance
Pemiitsllnspeclions	$1,000	$0

$11,100
$8,700

Special Events	$3,000	$322	$1,608

Equipment			$303		$6,500	
TOTAL FIELD EXPENDITURES	$1,019,563	$608,196	$193,818	$802,014	$768,683	

Office SuppfleSIPrinling!Bindlng	S5,500
con�ngency

$3,000
$6,800

ca11ilal Protects
Capital Reserve	so

so

Roadway Repairs	$75,019	$0	$0
Pickleball Land Acquisition	$0

so

S510,822

$0

$0	$50,000

Parking Lat Sr.rips	S7,000	so	$0	$0	$0
CamerasJar Club House	SIS.000	$1V62	so	$0

Sll,762

$11,762

Speed Limit Signs	SZ.500	so	so	so	so
TOTAL CAPITALPROJECTS E:XP£ND/TUR£S	$0	$560,822

$1,465,375

TOTAL E:XPE:NDT111RES	$1,259,017	$n6.420	$213,286	 	$929,706 

FY2015
$1,259,017
S94,765 Sl,353,782

$1,189,245
S89,5I3 St278,758

Sl,259,0I7 S94,765 Sl,353.782

Asslg_ned Fund 8alonce	so	$417,026	($210,667)	$206,358	$0

NITASSESSMENTS  PWS COUECTION fffS (7'Kl} GROSS ASSESSMENTS

FY2013

FY2014
$1,259,014
Sl.353,779

$94,765

FY2016

NO. OF TOTAL PJANN£D UNITS	703	703	703	703

$1,885

SiBB5

$1,885

GOLF COURSE	15	15	15	15
GROSS PER UNITASSESSMENT	$1,781
Pagel

LAKE ASHTON II                  COMMUNITY DEVELOPMENT DISTRICT GENERAL FUND BUDGET
FISCAL YEAR 2016

REVENUES:
Assessments - Tax Collector:
The District will levy a non ad-valorem special assessment on the platted property within the District and certify to the Polk County Tax Collectorforcollection tofund operating expenditures ofthe District.

Assessment s - Direct:
The District will levy non ad-valorem special assessments on the undeveloped property within the District and directly collect assessments tofund operating expenditures ofthe District.

EXPENDITURES:
Administrative:
Engineering Fees
The District's engineer will be providing general engineering services to the District including attendance and preparation for board meetings, etc
Arbitrage
The District is required to annually have an arbitrage rebate calculation on the District's Series 2005A&B and Series 2006A&B Capital Improvement Revenue Bonds.
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 requirementsfor 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 and maintenance contracts, etc.

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

Trustee Fees
The District issued Series 2005A&B and Series 2006A&B Capital Improvement Revenue Bonds which are held with a Trustee at US Bank. The amount ofthe trusteefees is based on the agreement between USBankandthe District.

Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services. These services arefurther outlined in Exhibit "A" ofthe Management Agreement.

Computer Time
The District processes all ofItsfinancial activities, i.e., accounts payable,financial statements, etc. on a mainframe computer leased by Governmental Management Services.

Website Compliance
Per Chapter 2014-22, Laws ofFlorida, all Districts must have a website by October 1, 2015  to provide detailed information on the COD as well as links to useful websites regarding Compliance issues. This website will be maintained by CMS-SF, LLC and updated monthly.

Page 2

Telephone        Telephone andJax machine.

LAKE ASHTON II               COMMUNITY DEVELOPMENT DISTRICT GENERAL FUND BUDGET
FISCAL  YEAR 2016

Postage:
Mailing ofagenda packages, overnight deliveries, correspondence, etc.

Printing& Binding
Printing and Binding agenda packagesfor board meetings, printing ofcomputerizedchecks, stationary, envelopes etc.

Insurance
The District's General Liabllily & Public Officials Liabillly Insurance policy is with Florida Insurance Alliance. Florida Insurance Alliance specializes in providing insurance coverage to governmental agencies.

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 are incurred during the year.

Office SUQ/llles
Miscellaneous office supplies.

Dues. Licenses & Subscriptions
The District is required to pay an annualJee to the Department ofEconomic Opportunilyfor $175. This is the only expense under this categoryfor the District.

Maintenance·
Salaries & Wages - HFC
The District has employed personal to manage and supervise the Health Fitness Center. FICA
These expenses represent the Employer's share ofSocial Securily and Medicare taxes withheldfrom the HFC employees.

Health Insurance Coverage
This represents reimbursement to the HFC employeesfor their health insurance coverage.

Exercise Instructors
This represents payment to two (2) exercise instructors hiredfor the HFC.

Gate Attendants
The District has contracted Universal Protection Servicesfor the securily services within the COD.

Security Services
The District has contracted ADTforthe monthlyservices ofthe cameras.

Refuse
The District has obtained a contract with Florida Refusefor garbage services.
Page 3

LAKE ASHTONII              COMMUNITY DEVELOPMENT DISTRICT GENERAL FUND BUDGET
FISCAL YEAR 2016
Pest Control
Florida Pest Control provides pest controlfor bugs, mosquitoes and rodent control.

Telephone/Internet
Brighthouse provides Internet services, Windstream provides network & server services and Verizon provides telephone services.
Electric
TECO provides eleclric services.

Gos
Amer/gas Propane provides gas to the Dsitrict.

Water
City ofWinterHaven provides waterservices.

Workers Como. Insurance
The Dislrict's Workers Comp. Insurance policy is with SUMMIT who specializes in providing insurance coverage to govemmenlal agencies.

Maintenance
The District ulilizes thefollowing companiesformaintenance services:
Fetz Eclectic Inc. - Electrical Services
The Harlline Alarm Comp. -Alarm Services
Tradition Central Air - AICMaintenance

Cleaning Services
The District has contacted Accurate & Professional Cleaning, Inc. for cleaning services at the Fitness Center and the Guard House.

Landscape Malntenoncellrrigotion Repairs/Plant Replacement
The District has contracted Austin Outdoors LLC to provide landscape maintenance services which include mowing, edging, trimming, etc.

Pool Maintenance
Heartland Commercialprovides the pool andspa cleaning services to the Dislrict.

Permltsl/nsoections
The District is required to renew permits and other Inspections on an annual basis with the City of Winter Haven, Polk County and The Slate ofFlorida to comply with regulations.

Special Events
The District will have shows and dances throughout theyear.

Office Suoplies/Printing & Binding
The District has leased /2) two copiers, one with DEX Imaging, Inc. and the other with CIT Technology Fin. Services, Inc. Within these expenses the District will have offi ce supplies such as paper, etc. .. 
Page 4

Equipment

LAKE ASHTON II                  COMMUNITY DEVELOPMENT DISTRICT GENERAL FUND BUDGET
FISCAL YEAR 2016

The District has XM Radio, musicsystem and Exercise Equipment with Commercial Fitness Products.

Contingency
A contingencyforany unanticipated and unscheduled cost to the District.

Capital Reserves
Represents any new capital expenditures the Districtmay need to make during the Fiscal Year.

Page s

Lake Ashton II
Community Development District	Debt Service Fund
Series 2005A

Adopted	Actual	Projected		Total	Adopted Budget		Thru		Next	Projected		Budget

Descrif!_tion	FY 2015	6/30/2015	3 Months	9130/2015	FY2016
Revenues
(I/   Assessments - On Roll {A}	S455,672	S468,863	S1,208	S470,071	S455,672
Prepayments	so	S29,301	$s20o	$29,301	$0

so

Interest Income	$0	$60
/2/     Car,y Foiward Surplus	S3, 22B	S182, 1 10

$458, 900

$680,335

$1,228

$681, 563

TOTAL REVENUES
Expenditures
Series 2005A

S182S, 1B1O0

$0
$119,072

Interest - 1 111	S156,950	S156,950	so	S156,950	SJS0, 231

Interest - 511	S156,950	S155,541	so

Spedal Call • 1 111	so	S75,000	so	S75, 000

S150, 2s3o1

Principal - 511	S145,000	S145,000	so

$155,541
S145,000

S145, 000

$458, 900
$0

$562, 491

$0
$1, 228

$562,491
$119,072

$445, 463
$129, 282

$117,844

Special Call - 511	so	S30,000	so	S30,000	so

TOTAL £XPENDJTURES
£XCf55 REVENUES
Maximum Annual Debt SeNice	11/112015	111112016 Interest	S/46,334 Car,yfoiward surplus Is net of the reseNe requirement and Deferred Costs		2005 A

NET ASSESSMENTS
PLUS COl.l.ECf/ON FEES (7%)
GROSS ASSESSMENTS NO. OF UNITS
GOLF COURSE
GROSSPER UNITASSESSMENT

$414, 547.01
$3 1, 202.46
326

$414,547.01

$445, 749.47
326

$31,202.46

$

$1, 263.44

$33,868

$1,263.44

33,868

$455, 671.98
$34,297.89
$489,969.87
361
$33,868
$1,263. 44

FY2014	FY2015	FY 2016

Page 6

Lake Ashton II		Amortization Schedule Community Development District	Series 2005A, Capital Improvement Revenue Bonds

DA TE	BA LA NCE	RA TE	PRINCIPAL	INTEREST	TOTAL 

71101/15	$	5, 590, 000.00	5. 38%	$	$	150,23 1.25	$	150, 23 1. 25
05/01/16	$	5,590, 000.00	5. 38%	$	145,000.00	$	150,231.25	$
11/01/16	$	5, 445,000.00	5.38%	$	$	146,334.38	$	44 1,565. 63
05/01117	$	5, 445, 000.00	5.38%	$	155,000. 00	$	146,334.38	$

s

11/01117	$	5,290,000. 00	5.38%	$	$	142, 168. 75	$	443, 503. 13
05101/18	$	5,290,000. 00	5. 38%	165, 000. 00	$	142, 168. 75	$
11/01118	$	5, 125,000. 00	5. 38%	$	$	137, 734.38	$	444, 903. 13
05101/19	$	5, 125, 000. 00	5. 38%	$	175, 000. 00	$	137, 734.38	$
11/01/19	$	4, 950, 000.00	5. 38%	$	$	133,03 7. 25	$	445, 765. 63

s

05/07/20	$	4, 950, 000.00	5. 38%	$	185, 000.00	$	133,03 7. 25	$

s

11/01120	$	4, 765, 000.00	5. 38%	128,059. 38	$	446, 090. 63

s

05/01/21	4, 765, 000.00	5.38%	$	195,000.00	$	128,059. 38	$

s	s

11/0112 1	4,570, 000. 00	5. 38%	$	$	122,818. 75	$	445,878. 13

05/01122	$	4, 570, 000. 00	5. 38%	205, 000.00	$	122,818. 75

11/07/22	$	4,365,000. 00	5. 38%	$	$	117, 309.38	$	445, 128. 13

s

05/01123	$	4,365,000. 00	5. 38%	$	215,000. 00	$	117, 309.38	$

s

11/01/23	4, 750, 000.00	5. 38%	$	$	111, 53 1.25	$	443, 840. 63

s	s

05101124	$	4, 150, 000.00	5. 38%	225, 000.00	$	111, 53 1. 25	$

11/07/24	$	3,925, 000.00	5. 38%	$	105,484. 38	442,015. 63

05/07125	$	3,925, 000.00	5. 38%	$	240,000.00	$	105,484. 38	$

11/01125	$	3, 685, 000.00	5.38%	$	$	99, 034. 38	$	444,518. 75

s

05101/26	$	3, 685, 000.00	5.38%	$	250,000. 00	$	99, 034. 38	$

s

11/01126	$	3,435, 000. 00	5.38%	$	92, 315. 63	$	441,350.00

s

05/01127	$	3,435,000. 00	5. 38%	$	265, 000.00	$	92,3 15. 63

s	s

11/01127	$	3, 170, 000. 00	5.38%	$	85, 193. 75	$	442, 509.38

05/01128	$	3, 170, 000. 00	5.38%	280,000. 00	85, 193. 75	$

s

11/01128	$	2, 890,000. 00	5.38%	$	$	77, 668. 75	$	442,862. 50

05/01/29	$	2, 890,000. 00	5. 38%	295, 000. 00	$	77, 668. 75	$

s

11/01/29	$	2, 595,000. 00	5. 38%	$	$	69, 740. 63	$	442, 409.38

05/01/30	$	2, 595,000. 00	5. 38%	315,000. 00	$	69, 740. 63	$

11/01130	$	2, 280,000. 00	5. 38%	$	$	61,2 75.00	$	446, 015. 63

05101/31	$	2,280,000. 00	5.38%	$	330, 000. 00	$	61,2 75.00	$

11/0113 1	$	1, 950,000. 00	5.38%	$	$	52, 406.25	$	443, 681.25

$	1, 950,000. 00	5. 38%	$	350,000. 00	$	52,406.25	$

05/01/32
11/01/32

$	1, 600,000. 00	5. 38%	$	$	43,000.00	s	445,406. 25

05/01/33	$	1, 600,000. 00	5. 38%	$	370, 000. 00	$	43, 000.00	$

11/01/33	$	1,230,000. 00	5.38%	$	$	33, 056.25	$	446,056.25

s

05101134	$	1,230, 000. 00	5.38%	$	390,000. 00	$	33, 056.25	$

11/01134	840, 000. 00	5.38%	$	$	22, 575. 00	$	445, 63 1.25

05/01135	$	840,000.00	5.38%	$	410,000. 00	$	22, 575. 00	$

11101135	$	430, 000.00	5.38%	$	$	11,556.25	$	444, 13 1.25
05/01/36	$	430, 000.00	5.38%	$	430,000. 00	$	11, 556.25	$	441, 556. 25

TOTAL	$	5, 590, 000. 00	$	3,885, 050.00	$	9,475,050. 00

Page l

Lake Ashton II
Community Development District

Adopted
Budget
Description	FY 2015
 	 	
Revenues
Other Revenue Sources	$344,290

Debt Service Fund
Series 2006A

Adopted Budget FY 2016

$344, 290

TOTAL REVENUES

$344, 290

$344,290

Expenditures
Interest - 1111	$122, 695
Interest - 511	$122, 695
Principal - 511	$90, 000

$120,310
$120,310
$95, 000

TO TAL EXPENDITURES

EXCESS REVENUES

$335,390
$8, 900

$335, 620
$8, 670

Page B

Lake Ashton II		Amortization Schedule Community Development District	Series 2006A,   Capital lmprovemem Revenue Bonds

s	s

$	s

DATE		BALANCE	RATE	PRINCIPAL		INTEREST		TOTAL 05101/07	$		5, 025,000.00   5. 300A,      s		$		110, 968. 75	s		110,968. 75
1 1/01107	5,025,000. 00   5.30%	$	133, 162. 50

$	s	s

05/01/08	$	5,025,000.00  5. 30%	$	133,162.50	266, 325.00

$	s	s

11/01108	5,025,000.00  5. 30%	133, 162. 50

$	s	s

05101/09	5, 025,000.00 5.30%	70, 000. 00	133, 162.50	$	336,325.00

$	$	s

1 1/01109	4,955, 000.00    5.30%	13 1,307.50

s	s	s

05/01/10	4,955,000. 00   5.30%	75,000.00	13 1, 307.50	$	337,615.00

s	s

11101110	4,880,000. 00   5.30%	129,320.00

s	s	s

05/01/11	4,880,000.00  5. 300,6   $	80,000.00	129,320.00	$	338,640.00

s	s	s

1 1/01111	4,800,000.00    5. 30%	127,200.00

$	s	s

05/01/12	4,800, 000. 00  5.30%	85,000.00	127,200.00	$	339,400.00

s	s	s	s

11/01112	4, 715, 000.00   5.30%	124, 947.50

s	s

05/01113	4,715,000. 00 5. 300,6	85,000.00	124,947.50	334,895.00
11/01113	4,630,000.00    5.30%   $	122, 695. 00

s

s

s

05/01/14	s
1 1/01114	s

4,630, 000.00
4,540,000.00

5. 300,6      s	go,000.00	s

s	s

5.30%

122, 695.00
120,3 10.00

s	335,390.00

05/01115
1 1101/15

4, 540, 000. 00 5. 30%    s	95,000.00	s	120,3 10.00	s	335,620.00
$	4, 445,000, 00    5.30%	117, 792. 50

s	s

05/01116	ss

4,445,000.00  5.30%   $	100,000.00	$	117,792. 50	s	335, 585. 00
4,345,000. 00   5.30%	115, 142. 50

11101/16

s	s	s

05101117
11/01/17
05101/18

s	4, 345,000.00  5.30%   s	705,000.00	s	115,142. 50	s	335,285.00

s	ss

4, 240,000. 00 5. 30%	112,360.00
4, 240,000. 00  5.30%	115,000.00	112,360.00	$	339, 720.00

1 1/01/18	s	4, 125,000.00   5.30%    s	s	109,3 12.50

s

s

s

05101119	$	4, 125,000. 00
11/01119	4,005,000.00

5.30%	$	120, 000.00	$
5.300A,

109,3 12.50
106, 132.50

$	338,625.00

s	s	s

05/01/20	s	4,005,000.00   5. 30%   $	125,000. 00	s	106,132.50	$	337,265.00

s	s	s

11/01120	3,880,000.00 5. 30%	102,820. 00

$	s	s

05/01/21	3,880,000. 00 5. 30%  $	130,000.00	102,820.00	335,640.00
1 1/0112 1	3, 750, 000. 00    5.30%	99,3 75.00

s

s

05/01/22
1 1101/22

s	3, 750,000. 00
3, 610,000.00

5.30%   s	140, 000.00
5.30%

s	99,3 75.00	$	338, 750.00
$	95, 665.00

s	s	s

05/01123	s	3, 610,000.00   5.30%    $	145,000.00	s	95,665.00	s	336,330,00

s	s	s	s

1 1101/23	3,465,000.00    5.30%	91,822.50

s	s	s

05101124	3,465,000.00    5. 300/41	155,000.00	91,822. 50	338,645.00

s	s	s	s

11/01/24	3,310,000.00  5. 30%	87, 715.00

s	s	s

05101125	3,310, 000.00 5. 30%	165,000.00	87, 715.00	340, 430.00

s	s	s

11/01125	3, 145, 000. 00 5. 30%	83,342.50
5.30%	175,000. 00	83, 342.50	341,685. 00

05101/26	$	3, 145, 000.00
11/01126	$	2, 970,000. 00

5.30%   s	$	78, 705.00

s

05101/27	s	2,970,000, 00
11/01127	2,790,000. 00

5.30%   s	180,000.00
5.30%

$	78,705. 00
$	73,935.00

s	337,410.00

s

05/01/28
1 1/01128

$	2,790,000. 00  5.30%   $	190, 000.00	s	73,935.00	s	337,870. 00
2,600,000.00   5.30%   $	$	68, 900.00

s	s	s

05/01129	s	2,600,000.00    5.30%   s	200,000.00	s	68,900.00	s	337, 800.00

s

1 1/01129	2,400,000.00    5.30%	63,600.00

s

s

05/01/30	s	2,400, 000.00
1 1101/30	2, 185, 000. 00

5. 30%   s	215,000.00	s	63,600.00	s	342,200. 00

s

s

5. 30%   $	57,902. 50

s

05/0113 1	s	2,185,000. 00
11/01131	1, 960, 000. 00

5. 30% s
5.30%

225,000.00	s	57, 902.50
51,940.00

$	340,805. 00

05/01/32	s	1, 960, 000. 00 5.30%   s	235,000.00	s	51,940.00	s	338,880. 00

s	s

1 1101/32	$	1, 725,000. 00    5.30%    $	$	45,712.50

s	s	s

05/01133	1, 725,000.00    5.30%	250, 000.00	$	45,712.50	$	341,425.00

s	s	s

1 1101/33	1,475,000.00   5.30%	39,087.50

5.30%	265,000.00	39, 087.50	343,175.00

05/01134	s	1, 475,000.00
1 1/01/34	$	1, 210,000.00

5.30%    $	s	32,065.00

s	s

05/01135	s	1,210,000.00    5.30%    $	280,000.00	s	32,065. 00	s	344, 130.00

s	s	s

11101/35	930,000.00  5.30%   $	24,645.00

5. 30%	295,000.00	24,645.00	344,290.00

05101/36	s	930,000.00
11101/36	$	635,000.00

5.30%    $	s	16,827.50

s	s	s

05101137	s	635,000.00    5.30%    $	310,000. 00	s	16,827.50	$	343, 655.00

s	s	s	s

11/01/3 7	325,000.00  5.30%	8,612.50
05101/38	325,000.00 5.30%	325,000.00	8,612.50	342,225,00

TOTAL	s	5,025,000.00	s  5, 522,003. 75	$	10,547,003.75

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