Middle Village

Community Development District

Adopted Budget

Fiscal Year 2019

TABLE OF CONTENTS

General Fund.………………………………………….………......Page 1-4

Recreation Fund…………………….………..…….……..….….Page 5-16

Debt Service Fund – Series 2018A-1/A-2……….…..….Page 17-19

Assessment Allocation Report………………………..…………Page 20

Capital Reserve Fund………………………………….….……….Page 21

SPE Holdings, LLC…………………………………….…….………Page 22

Exhibit “A”……………………………………………….…….………Page 23

Middle Village

Community Development District	General Fund

		Adopted		Actual		Next		Projected		Adopted		
		Budget		Thru	3		Thru		Budget		
Description		FY 2018		6/30/18		Months		9/30/18		FY 2019		
Revenues											
Maintenance Assessments	$215,687	$202,357	$13,330	$215,687	$215,687		
Interest Income	$350	$823	$274	$1,097	$350		
Total Revenues											
	$216,037	$203,180	$13,604	$216,784	$216,037		
Expenditures											
Administrative											
Supervisor Fees	$12,000	$9,000	$3,000	$12,000	$12,000		
Travel Expense	$209	$31	$100	$131	$209		
FICA Expense	$918	$689	$229	$918	$918		
Engineering	$10,500	$878	$293	$1,171	$10,500		
Trustee	$15,144	$750	$14,394	$15,144	$15,144		
Dissemination Agent	$2,100	$2,250	$750	$3,000	$2,100		
Assessment Roll	$7,260	$7,260	$0	$7,260	$7,550		
Attorney	$45,000	$23,895	$7,965	$31,860	$45,000		
Attorney - Foreclosure	$28,000	$11,606	$16,394	$28,000	$28,000		
Arbitrage	$750	$0	$750	$750	$750		
Annual Audit	$5,900	$1,500	$4,400	$5,900	$5,900		
Management Fees	$57,657	$43,243	$14,414	$57,657	$59,963		
Information Technology	$2,150	$1,613	$537	$2,150	$2,150		
Telephone	$425	$301	$124	$425	$425		
Postage	$600	$1,542	-$942	$600	$600		
Printing & Binding	$2,700	$2,958	-$258	$2,700	$2,700		
Records Storage	$200	$0	$200	$200	$200		
Insurance	$10,652	$10,652	$0	$10,652	$10,652		
Legal Advertising	$1,500	$3,735	$1,245	$4,980	$1,500		
Other Current Charges	$150	$0	$150	$150	$150		
Office Supplies	$300	$247	$82	$329	$300		
Dues, Licenses & Subscriptions	$175	$175	$0	$175	$175		
Reserves	$11,747	$11,757	$0	$11,757	$9,151		
Administrative Expenses											
	$216,037		$134,082		$63,827		$197,909		$216,037		
											
EXCESS REVENUES / (EXPENDITURES)	$0		$69,098	($50,223)		$18,875		$0		

1

Middle Village

Community Development District

BUDGET

Fiscal Year 2019

REVENUES:

Maintenance Assessments

The District will levy a non ad-valorem special assessment on all assessable property within the District to fund all of the General Operating Expenditures for the fiscal year. Collection for SPE is suspended until property is sold.

Interest Income

The excess operating funds will be invested in a money market account held by US Bank. The amount represents the estimated earnings on those funds.

EXPENDITURES:

Administrative:

Supervisor Fees

The Florida Statutes allows each board member to receive $200 per meeting not to exceed $4,800 in one year. The amount for the fiscal year is based upon five supervisors attending the estimated 12 annual meetings.

Travel Expense

These expenses represent supervisor’s travel expenses to attend meetings.

FICA Expense

These expenses represent the Employer's share of Social Security and Medicare taxes withheld from the Board of Supervisors checks.

Engineering Fees

The District's engineering firm will be providing general engineering services to the District including attendance and preparation for monthly board meetings, review invoices, etc. England, Thims & Miller serves as the District’s engineering firm.

Trustee Fees

The District 2018 Bond Series trustee fees is based on the agreement between Hancock Bank and the District.

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. The District has contracted with GMS, LLC, to provide this service.

GMS	2

Middle Village

Community Development District

BUDGET

Fiscal Year 2019

Assessment Roll

Governmental Management Services, LLC serves as the District’s collection agent and certifies the District’s non-ad valorem assessments with the county tax collector.

Attorney

The District's legal counsel will be providing general legal services to the District including attendance and preparation for monthly meetings, review operating and maintenance contracts, etc. Hopping Green & Sams serves as the District’s legal counsel.

Attorney - Foreclosure

The District's legal counsel will be providing bankruptcy and foreclosure services to the District.

Arbitrage

The District is required to annually have an arbitrage rebate calculation on the District’s Series 2018 Bonds. GNP Services, CPA, PA, serves as the District’s independent certified public accounting firm to calculate the rebate liability and submit reports to the District.

Annual Audit

The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm. Grau and Associates currently serves as the District’s Independent Auditor.

Management Fees

The District receives management, accounting and administrative services as part of a Management Agreement with Governmental Management Services, LLC.

Information Technology

The cost related to District’s accounting and information systems, District website creation and maintenance, electronic compliance with Florida Statutes and other electronic data requirements.

Telephone

Telephone and fax machine.

Postage

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

GMS	3

Middle Village

Community Development District

BUDGET

Fiscal Year 2019

Printing & Binding

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

Records Storage

Cost associated with storing of District records offsite and electronically.

Insurance

The District's General Liability & Public Officials Liability Insurance policy is with Florida Property Alliance Preferred (FPA). FPA 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

Any miscellaneous expenses incurred during the year.

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.

Reserves

Established to maintain community service levels at present standards for fiscal year.

GMS	4

Middle Village

Community Development District								Recreation Fund		
												
		Adopted		Actual		Projected		Projected		Adopted		
		Budget		Thru		Next 3		Thru		Budget		
Description		FY 2018	6/30/18		Months	9/30/18		FY 2019		
Revenues												
Maintenance Assessments	$1,568,932	$1,562,117	$6,815	$1,568,932	$1,568,932		
Interest Income	$1,000	$11,431	$3,810	$15,241	$2,400		
Amenities Revenue	$79,800	$79,334	$466	$79,800	$55,000		
Cost Share Revenue-South Village	$36,662	$50,573	$0	$50,573	$36,662		
Total Revenues												
	$1,686,394	$1,703,455	$11,091	$1,714,546	$1,662,994		
Expenditures												
Administrative												
Management Fees - On Site	$124,790	$99,371	$33,124	$132,495	$139,790		
Insurance	$45,879	$42,358	$0	$42,358	$45,879		
Other Current Charges	$5,868	$4,320	$1,548	$5,868	$5,868		
Permit Fees	$1,500	$1,779	$0	$1,779	$1,500		
Office Supplies	$500	$0	$500	$500	$500		
Capital Reserve	$61,776	$61,776	$0	$61,776	$33,625		
Administrative Expenses												
	$240,313	$209,604	$35,172	$244,776	$227,162		
Maintenance												
Security	$92,047	$38,122	$12,707	$50,829	$92,047		
Security Clay County	$43,609	$29,631	$9,877	$39,508	$43,609		
Electric	$22,000	$15,123	$5,041	$20,164	$22,000		
Streetlighting	$32,000	$21,141	$7,047	$28,188	$32,000		
Irrigation Maintenance	$4,000	$3,416	$1,139	$4,555	$4,000		
Landscape Maintenance	$413,172	$308,376	$102,792	$411,168	$413,172		
Common Area Maintenance	$54,847	$33,949	$11,316	$45,265	$54,847		
Lake Maintenance	$23,668	$14,965	$4,988	$19,953	$23,668		
Miscellaneous Maintenance	$5,000	$446	$149	$595	$5,000		
Common Area Expenses												
		$690,343		$465,169		$155,056		$620,225		$690,343		

5

Middle Village

Community Development District								Recreation Fund		
												
		Adopted		Actual		Projected		Projected		Adopted		
		Budget		Thru		Next 3		Thru		Budget		
Description		FY 2018	6/30/18		Months	9/30/18		FY 2019		
Recreation Facility												
Aquatic & Athletic Manager / Staff	$147,794	$112,252	$35,542	$147,794	$159,949		
Pool Attendants	$138,761	$6,325	$2,108	$8,433	$122,750		
Janitorial	$42,418	$31,435	$10,983	$42,418	$42,418		
Telephone	$5,364	$4,090	$1,274	$5,364	$5,364		
Electric	$62,000	$33,986	$11,329	$45,315	$62,000		
Water / Sewer	$33,000	$25,745	$8,582	$34,327	$35,300		
Refuse Service	$11,844	$10,777	$3,592	$14,369	$14,200		
Pool Maintenance & Chemicals	$52,318	$45,246	$15,082	$60,328	$52,318		
Cable	$5,102	$3,551	$1,551	$5,102	$5,102		
Contingency	$3,000	$0	$0	$0	$0		
Special Events	$5,000	$6,173	$2,058	$8,231	$5,000		
Office Supplies and Equipment	$3,000	$1,024	$341	$1,365	$3,000		
Facility Maintenance - General	$37,707	$30,583	$7,124	$37,707	$37,707		
Facility Maintenance - Preventive Contracts	$15,350	$3,421	$11,929	$15,350	$15,350		
Facility Maintenance - Contingency	$27,600	$18,397	$9,203	$27,600	$27,600		
Elevator Maintenance	$2,576	$1,438	$479	$1,917	$2,576		
Recreation Passes	$7,125	$2,972	$4,153	$7,125	$7,125		
Lighting Repairs	$10,000	$7,402	$2,598	$10,000	$10,000		
Tennis Court Maintenance	$35,680	$24,442	$11,238	$35,680	$35,680		
Unscheduled Pool Maintenance	$0	$0	$0	$0	$0		
Staff- Exercise Room	$30,000	$0	$0	$0	$30,000		
Total Recreation Facility												
	$675,638	$369,259	$139,166	$508,425	$673,439		
Aquatics Pool												
Pool Maintenance	$22,160	$11,950	$10,210	$22,160	$22,160		
Pool Chemicals	$7,840	$0	$7,840	$7,840	$7,840		
Electric	$16,000	$12,712	$3,288	$16,000	$16,000		
Water/Sewer	$6,800	$0	$6,800	$6,800	$6,800		
Gas Heat	$12,000	$26,292	$26,292	$0	$3,950		
Supervisors	$10,300	$217	$10,083	$10,300	$10,300		
Unscheduled Pool Maintenance	$5,000	$0	$0	$0	$5,000		
Total Aquatics Pool												
		$80,100		$51,171		$64,513		$63,100		$72,050		
Total Expenses												
	$1,686,394	$1,095,203		$393,907	$1,436,526		$1,662,994		
EXCESS REVENUES / (EXPENDITURES)												
		$0		$608,252	($382,816)		$278,020		$0		

6

Middle Village

Community Development District

BUDGET

Fiscal Year 2019

REVENUES:

Maintenance Assessments

The District will levy a non ad-valorem special assessment on all assessable property within the District to fund all of the Recreational Operating Expenditures for the fiscal year. SPE Collection is suspended until property is under new ownership.

Interest Income

The District will have funds invested in a money market fund with Hancock Bank. The amount is based upon the estimated balance invested throughout the year

Amenities Revenue

•	Income received from resident/non-resident rental of Grand Banquet Room, Furniture and Grand Lawn.

•	Income from proceeds from access cards.

•	Income earned from the sales of vending items.

•	Income received from the non-resident user fee for the Recreation Facility.

•	Income received from tennis lessons, ball machine rental, and equipment repair.

Cost Share Revenue – South Village

The District has entered into a Cost Share Agreement with the South Village Community Development District to fund a portion of the Landscape Maintenance Cost of the District.

EXPENDITURES:

Administrative:

Management Fees – On Site

The District has contracted with Governmental Management Services, LLC for the supervision and on-site management of the District’s Amenity Center. The responsibilities include management of District maintenance contracts, scheduling Special Events, weekend management services, rentals of the facilities, resident inquiries and other maintenance related items. The District will share the cost of an onsite manager, administrator, weekend manager and rental coordinator with the Double Branch Community Development District.

GMS	7

Middle Village

Community Development District

BUDGET

Fiscal Year 2019

Insurance

The District's Property Insurance policy is with Florida Property Alliance (FPA). FPA specializes in providing insurance coverage to governmental agencies.

Other Current Charges

Bank charges and any other miscellaneous expenses that are incurred during the year.

Permit Fees

Costs of various occupational licenses and pool permits.

Description	Monthly		Annual	
Play Pool Permit		$	250	
Lap Pool Permit		$	250	
Spray Pool Permit		$	125	
State Public Broadcast fees for music		$	875	
	Total	$	1,500	

Office Supplies

Miscellaneous office supplies for onsite manager and rental coordinator.

Capital Reserve

Established to maintain community service levels at present standards for budgeted fiscal year. The transfer in 2016 was for several years of accumulated funds.

Maintenance: Common Area

Security

The District will have a contract with ABM Security Services , a security company to provide Athletic Center and Common area security services and a roving guard.

Description	Monthly			Annual	
Contract	$	4,236	$	50,829	
Basketball Court/Extra Coverage	$	3,435	$	41,218	
Total	$	7,671	$	92,047	

Security – Clay County

The District will contract with off-duty Clay County Officers 24 hours/week random patrols (cost split 50/50 with Double Branch).

GMS	8

Middle Village

Community Development District

BUDGET

Fiscal Year 2019

Electric

The cost of electricity provided by Clay Electric Cooperative, Inc. for signage lighting, entry feature lighting, landscape lighting, etc.

Account Number	Description		Monthly		Annual	
5829387	1071 Deerview Drive	$	19	$	226	
7131691	1225-1 Deerview Lane	$	18	$	217	
7138258	3786-1 Timberline Drive	$	18	$	218	
6144521	384 Oakleaf Plantation Boulevard	$	92	$	1,109	
6177042	726-1 Chestnut Chase Drive	$	77	$	920	
7131600	508-1 Chestwood Chase Drive	$	18	$	219	
7131634	3215-1 Live Oak Hollow Drive	$	20	$	235	
6214282	707 Oak Leaf Plantation Pkwy	$	328	$	3,936	
7131568	893-1 Cardinal Hills Street	$	18	$	217	
6082986	885 Misty Oak Drive	$	18	$	217	
8455321	713-1 Oakleaf Plantation Pkwy	$	24	$	289	
7709488	711-1 Oak Leaf Plantation	$	61	$	726	
7778707	4219-1 Plantation Oaks Blvd	$	200	$	2,395	
6411763	4222-1 Plantation Oaks Blvd	$	126	$	1,507	
7131642	1016-1 Oakleaf Plantation Parkway	$	18	$	217	
8339848	1097-1 Oakleaf Planta U/G	$	104	$	1,248	
8455347	573-2 Oakleaf Plantation Pkwy	$	36	$	430	
	Contingency	$	640	$	7,674	
	Subtotal	$	1,833	$	22,000	

Street Lighting

The cost of roadway lighting provided by Clay Electric Cooperative, Inc.:

Account Number	Description		Monthly		Annual	
6301196	Westside of Brannanfield	$	2,484	$	29,813	
	Contingency	$	182	$	2,187	
	Total	$	2,667	$	32,000	

Irrigation Maintenance

Miscellaneous irrigation repairs and maintenance incurred by the district.

GMS	9

Middle Village

Community Development District

BUDGET

Fiscal Year 2019

Landscape Maintenance

The District has contracted with R & D Landscaping to provide landscaping and irrigation maintenance services to all of the common areas within the District as well as the Amenity Center.

Description	Monthly			Annual	
Contract	$	32,264	$	387,168	
Contingency		$	2,167	$	26,004	
Total	$	34,431	$	413,172	

Common Area Maintenance

Represents the estimated day-to-day maintenance of the Districts common areas. Services include:

-Pressure washing of District fences, entrance signage and pillars, pool areas, tennis facilities, gazebos, amenity center, field house, parks, park equipment and sidewalks. The estimated annual amounts for these services are based upon contractor proposals.

The estimated cost for the following is based upon past history and current hourly rates:

-All common area easements and park litter clean up -Storm sewer grate inspections and cleaning

-Removal of unauthorized signage and maintenance of community signage -Traffic/car accident clean up

-Inspections and repairs to all park equipment such as playground, picnic tables and benches.

-Lake inspections and cleanup

Lake Maintenance

The District has contracted with The Lake Doctors to provide monthly water management services and annual carp as needed per the contract to the 13 lakes within the District. Contingency includes monthly lake inspections and clean-up of outfall structures and barriers.

Description	Monthly			Annual	
Contract	$	1,489	$	17,868	
Contingency		$	483	$	5,800	
Total	$	1,972	$	23,668	

GMS	10

Middle Village

Community Development District

BUDGET

Fiscal Year 2019

Miscellaneous Maintenance

Includes contingency for any unanticipated and unscheduled cost to the District.

Maintenance: Recreational Facility

Aquatic & Athletic Manager / Staff

The District currently receives Aquatic and Athletic Management services as part of a contract with GMS, LLC. GMS staffing includes the Program Director and Administrative Assistant, duties includes issuing access cards and management of the daily operations of the Amenity Center. GMS, LLC also provides tennis lessons and other recreational related programs as part of their management contract with Middle Village CDD.

Pool Attendants (March – October)

Direct Salary cost to provide lifeguard services from District employees during pool operating season, Mid-March through October.

Janitorial

The District has contracted with Riverside Management Services, LLC to provide janitorial services and scheduled carpets cleanings to the District. Janitorial services are being provided seven days a week and carpets will be cleaned 9xs a year unless otherwise needed. Supplies will be purchased directly from ERC Wiping Products and Supplyworks.

Description	Monthly			Annual	
Contract	$	2,905	$	34,862	
Contingency	$	96	$	1,156	
Supplies		$	533	$	6,400	
Total	$	3,535	$	42,418	

Telephone

The Amenity Center currently pays AT&T for 3 phone lines (291-1283, 291-1776 and 291-1849). The amounts are based upon the following:

Description	Monthly			Annual	
Contract	$	422	$	5,064	
Contingency		$	25	$	300	
Total	$	447	$	5,364	

GMS	11

Middle Village

Community Development District

BUDGET

Fiscal Year 2019

Electric

Cost of electric billed to the District by Clay Electric for the Amenity Center.

Account Number	Description		Monthly		Annual	
6301188	845 Oakleaf Plantation Pkwy	$	4,957	$	59,483	
	Contingency	$	210	$	2,517	
	Total	$	5,167	$	62,000	

Water / Sewer

Cost of water and sewer service from JEA and Clay County Utility Authority for the Amenity

Center.

Account Number		Description		Monthly		Annual	
64274704	845 Oakleaf Plantation - Water	$	357	$	4,282	
64274704	845 Oakleaf Plantation - Sewer	$	673	$	8,070	
		Total JEA	$	1,029	$	12,352	
						
210999	3214-1 Tower Oaks Drive Rec	$	359	$	4,537	
235920	701-1 Turkey Point Drive Rec	$	23	$	507	
235921	878-1	Songbird Drive Rec	$	24	$	517	
235922	738-1	Chestwood Chase Drive	$	27	$	549	
241833	3214-2 Tower Oaks Drive Rec	$	59	$	936	
274569	1089 Oakleaf Plantation Pkwy	$	330	$	4,187	
274570	1092 Oakleaf Plantation Pkwy	$	145	$	1,964	
276170	3713-1 Chasing Falls Rd Recl Irrig	$	23	$	504	
276168	533-1	Southwood Way Irrig	$	24	$	520	
276169	533-2	Southwood Way Rec. Irrig	$	47	$	796	
	Contingency	$	661	$	7,931	
	Total Clay County Utility Authority	$	1,721	$	22,948	
		Total Water/Sewer/Reclaim	$	2,750	$	35,300	

Refuse Service

The District receives Refuse removal service from Southland Waste Service for the Amenity Center. Two dumpsters during busy summer months (June-Aug).

GMS	12

Middle Village

Community Development District

BUDGET

Fiscal Year 2019

Pool Maintenance & Chemicals

The District is contracted with Crystal Clean Pools for the cleaning, water testing and treatment of the Amenity Center pools. GMS staff handles additional, annual maintenance projects on the pool and deck features. The amount includes the following:

Description		Monthly		Annual	
Contract - Cleaning	$	1,852	$	22,226	
Slide Waxing/Maintenance	$	375	$	4,500	
Spray Ground/Furniture Cleaning	$	550	$	6,600	
Preseason Filter Clean and Prep	$	125	$	1,500	
Total	$	2,902	$	34,826	

The District currently has a contract with Poolsure to supply chemicals and chemical feeders for the Amenity Center pools. The amount is as follows:

Description	Monthly			Annual	
Contract	$	1,207	$	14,480	
Contingency	$	146	$	1,752	
Fuel Surcharge		$	105	$	1,260	
Total	$	1,458	$	17,492	
						
Total Maintenance and Chemical	$	4,238	$	52,318	

Cable

The District currently uses Comcast for cable services.

Description		Monthly		Annual	
Tennis	$	86	$	1,031	
Fitness		$	339	$	4,071	
Total	$	425	$	5,102	

Contingency

Represents any unanticipated and/or unscheduled cost to the District.

Special Events

Monthly events and organized functions the Amenity Center Director provides for all residents of Oakleaf Plantation.

GMS	13

Middle Village

Community Development District

BUDGET

Fiscal Year 2019

Office Supplies and Equipment

Office supplies for the Amenity Center.

Facility Maintenance – General

Represents estimated cost for general maintenance throughout the District based upon historical cost.

Facility Maintenance - Preventative

Cost of routine repairs and maintenance which include:

Contractor	Purpose	Annual Cost	
S.E. Fitness	Bi-Monthly Service	$	2,400	
Paula's Pest Control	Quarterly Service	$	700	
Certified Air Contractors	Bi-Monthly Service	$	1,482	
Jacksonville Sound & Communication	Alarm System Inspection	$	921	
Jacksonville Sound & Communication	Sprinklers & Extinguishers	$	1,150	
Termite Bond	Preventative	$	840	
Compass Tech Systems	Security Camera	$	6,849	
CES	Saline Chlorination System	$	450	
	Contingency	$	558	
Total			$	15,350	

Facility Maintenance – Contingency

Represents estimated amount based upon historical cost for fence repairs, graffiti clean up, signage repairs, wall cap replacements and damaged park equipment.

Elevator Maintenance

The District has a contract with Coastal Elevator Service for the maintenance of the Amenity Center Elevator as well as the annual state inspection.

Description		Monthly		Annual	
Contract	$	179	$	2,152	
Inspection		$	-	$	424	
Total	$	179	$	2,576	

Recreation Passes

Entry cards are issued to all CDD residents for facility access. Recreation Passes include the cards, ribbon, cleaner, guest cards etc.

GMS	14

Middle Village

Community Development District

BUDGET

Fiscal Year 2019

Lighting Repairs

Represents costs for fixtures, bulb and ballast, replacement, and electrician labor based upon past history.

Tennis Court Maintenance

Represents cost of clay replacement and installation (twice per year), irrigation and equipment repairs, drainage cleaning/repairs.

Unscheduled Pool Maintenance

Any unexpected repairs for the amenity center pools.

Aquatics Pool

Pool Maintenance

The District is contracted with Crystal Clean Pools cleaning, water testing, and treatment of the Amenity Center Pools. Additionally, GMS staff handles annual maintenance projects on the pool and deck features. The amount includes the following:

Description	Monthly			Annual	
Contract - Cleaning	$	1,195	$	14,340	
Preseason Filter clean and prep	$	472	$	5,660	
Contingency		$	180	$	2,160	
Total	$	1,847	$	22,160	

Pool Chemicals

The District will contract for supply of chemicals for the competition pool. The amount is as follows:

Description		Monthly		Annual	
Contract		$	653	$	7,840	
Total	$	653	$	7,840	
						
Total Pool Maintenance and Chemicals	$	2,500	$	30,000	

GMS	15

Middle Village

Community Development District

BUDGET

Fiscal Year 2019

Electric

The District’s cost of electric service for running the pool provided by Clay Electric.

Account Number	Description		Monthly		Annual	
8353831	853 Oakleaf Plantation Pkwy (Pool)	$	1,255	$	15,059	
	Contingency	$	78	$	941	
	Total	$	1,333	$	16,000	

Water/Sewer

The cost of water and sewer service from JEA and Clay County Utility Authority for the Aquatics Pool.

Account Number	Description		Monthly		Annual	
68260125	845 Oakleaf Plantation -Pool	$	494	$	5,928	
	Contingency	$	73	$	872	
	Total	$	567	$	6,800	

Gas Heat

Cost of gas for heating the pool currently contracted with AmeriGas.

Supervisors

The District currently receives Aquatic and Athletic Management services as part of a contract with GMS, LLC. GMS provides service for running the Aquatics Pool as part of their management contract with Middle Village CDD.

GMS	16

Middle Village

Community Development District									Debt Service Fund		
									Series 2004A/2008A		
														
		Adopted	Actual		Next	Projected			Adopted		
		Budget	Thru	3			Thru			Budget		
Description		FY 2018	6/30/18		Months	9/30/18			FY 2018		
Revenues														
Carry Forward Surplus	$920,305		$1,906,405	$0			$1,906,405			$525,172		
Special Assessments	$2,365,971		$2,285,888	$0			$2,285,888			$2,099,315		
Interest Income	$3,000		$18,404	$6,000			$24,404			$3,000		
Transfer In - Reserve	$135,443		$0	$0			$0			$0		
Total Revenues														
	$3,424,719		$4,210,697	$6,000			$4,216,697			$2,627,487		
Expenditures														
Series 2004A														
Interest 11/1	$754,730		$754,730	$0			$731,240			$0		
Special Call 11/1	$0		$0	$0			$0			$0		
Interest 5/1	$754,730		$0	$0			$0			$0		
Principal 5/1	$810,000		$0	$0			$0			$0		
Series 2008A														
Interest 11/1	$72,819		$72,819	$0			$0			$0		
Special Call 11/1	$0		$0	$0			$0			$0		
Interest 5/1	$72,819		$0	$0			$0			$0		
Principal 5/1	$65,000		$0	$0			$0			$0		
Series 2018A-1														
Interest 11/1	$0		$0	$0			$0			$454,130		
Special Call 11/1	$0		$0	$0			$0			$0		
Interest 5/1	$0		$0	$0			$0			$439,481		
Principal 5/1	$0		$0	$0			$0			$985,000		
Series 2018A-2														
Interest 11/1	$0		$0	$0			$0			$71,042		
Special Call 11/1	$0		$0	$0			$0			$0		
Interest 5/1	$0		$0	$0			$0			$68,750		
Principal 5/1	$0		$0	$0			$0			$110,000		
Other Financing Sources														
Operating Transfer Out(1)	$0		$0	$0			$0			$0		
Other Debt Costs	$0		$0	$0			$0			$0		
Total Expenses														
		$2,530,098		$827,549		$0			$731,240			$2,128,402		
														
EXCESS REVENUES / (EXPENDITURES)		$894,621		$3,383,148		$6,000			$3,485,457			$499,085		
						Interest November 1, 2019			$425,444		
												$66,275		
												$491,719		
														
									Per Unit			Gross		
		Unit Type	Units				Assessments			Assessment		
		Single Family	1,053	$	919.85	$	1,030,399		
		Multi-Family	1,370	$	651.95	$	950,156		
		Commercial (Sq.Ft)	330,000	$	0.72	$	252,759		
		Total Gross Assessment											
										$	2,233,314		
		Less: Discounts and Collections (6%)						$	133,999		
		Total Net Assessment								$	2,099,315		

(1) Operating Transfers Out (interfund transfers) are transfers made from the Debt Service to the Capital Projects fund

17

Middle Village							Amortization Schedule	
Community Development District							Series 2004A, Special Assessment Bonds	
															
DATE			BALANCE			PRINCIPAL		RATE			INTEREST			TOTAL	
05/01/17	$	26,075,000.00		$	765,000.00	5.800%	$	776,915.00				
11/01/17	$	25,310,000.00						$	754,730.00	$	2,296,645.00	
05/01/18	$	25,310,000.00		$	810,000.00	5.800%	$	754,730.00				
11/01/18	$	24,500,000.00						$	731,240.00	$	2,295,970.00	
05/01/19	$	24,500,000.00		$	860,000.00	5.800%	$	731,240.00				
11/01/19	$	23,640,000.00						$	706,300.00	$	2,297,540.06	
05/01/20	$	23,640,000.00		$	910,000.00	5.800%	$	706,300.00				
11/01/20	$	22,730,000.00						$	679,910.00	$	2,296,210.06	
05/01/21	$	22,730,000.00		$	965,000.00	5.800%	$	679,910.00				
11/01/21	$	21,765,000.00						$	651,925.00	$	2,296,835.06	
05/01/22	$	21,765,000.00		$	1,025,000.00	5.800%	$	651,925.00				
11/01/22	$	20,740,000.00						$	622,200.00	$	2,299,125.06	
05/01/23	$	20,740,000.00		$	1,085,000.00	6.000%	$	622,200.00				
11/01/23	$	19,655,000.00						$	589,650.00	$	2,296,850.06	
05/01/24	$	19,655,000.00		$	1,150,000.00	6.000%	$	589,650.00				
11/01/24	$	18,505,000.00						$	555,150.00	$	2,294,800.06	
05/01/25	$	18,505,000.00		$	1,225,000.00	6.000%	$	555,150.00				
11/01/25	$	17,280,000.00						$	518,400.00	$	2,298,550.06	
05/01/26	$	17,280,000.00		$	1,300,000.00	6.000%	$	518,400.00				
11/01/26	$	15,980,000.00						$	479,400.00	$	2,297,800.06	
05/01/27	$	15,980,000.00		$	1,380,000.00	6.000%	$	479,400.00				
11/01/27	$	14,600,000.00						$	438,000.00	$	2,297,400.06	
05/01/28	$	14,600,000.00		$	1,465,000.00	6.000%	$	438,000.00				
11/01/28	$	13,135,000.00						$	394,050.00	$	2,297,050.06	
05/01/29	$	13,135,000.00		$	1,555,000.00	6.000%	$	394,050.00				
11/01/29	$	11,580,000.00						$	347,400.00	$	2,296,450.06	
05/01/30	$	11,580,000.00		$	1,650,000.00	6.000%	$	347,400.00				
11/01/30	$	9,930,000.00						$	297,900.00	$	2,295,300.06	
05/01/31	$	9,930,000.00		$	1,755,000.00	6.000%	$	297,900.00				
11/01/31	$	8,175,000.00						$	245,250.00	$	2,298,150.06	
05/01/32	$	8,175,000.00		$	1,865,000.00	6.000%	$	245,250.00				
11/01/32	$	6,310,000.00						$	189,300.00	$	2,299,550.06	
05/01/33	$	6,310,000.00		$	1,980,000.00	6.000%	$	189,300.00				
11/01/33	$	4,330,000.00						$	129,900.00	$	2,299,200.06	
05/01/34	$	4,330,000.00		$	2,100,000.00	6.000%	$	129,900.00				
11/01/34	$	2,230,000.00						$	66,900.00	$	2,296,800.06	
05/01/35	$	2,230,000.00		$	2,230,000.00	6.000%	$	66,900.00				
11/01/35												$	2,296,900.06	
															
Total					$	26,075,000.00				$	17,572,125.00		$	43,647,126.01	

18

Middle Village					Amortization Schedule	
Community Development District			Series 2008A, Special Assessment Bonds	
												
DATE			BALANCE		PRINCIPAL			INTEREST			TOTAL	
05/01/17	$	2,190,000.00		$	60,000.00	$	74,843.75				
11/01/17	$	2,130,000.00				$	72,818.75	$	207,662.50	
05/01/18	$	2,130,000.00		$	65,000.00	$	72,818.75				
11/01/18	$	2,065,000.00				$	70,625.00	$	208,443.75	
05/01/19	$	2,065,000.00		$	65,000.00	$	70,625.00				
11/01/19	$	2,000,000.00				$	68,431.25	$	204,056.25	
05/01/20	$	2,000,000.00		$	70,000.00	$	68,431.25				
11/01/20	$	1,930,000.00				$	66,068.75	$	204,500.25	
05/01/21	$	1,930,000.00		$	75,000.00	$	66,068.75				
11/01/21	$	1,855,000.00				$	63,537.50	$	204,606.25	
05/01/22	$	1,855,000.00		$	80,000.00	$	63,537.50				
11/01/22	$	1,775,000.00				$	60,837.50	$	204,375.00	
05/01/23	$	1,775,000.00		$	90,000.00	$	60,837.50				
11/01/23	$	1,685,000.00				$	57,800.00	$	208,637.50	
05/01/24	$	1,685,000.00		$	95,000.00	$	57,800.00				
11/01/24	$	1,590,000.00				$	54,593.75	$	207,393.75	
05/01/25	$	1,590,000.00		$	100,000.00	$	54,593.75				
11/01/25	$	1,490,000.00				$	51,218.75	$	205,812.50	
05/01/26	$	1,490,000.00		$	110,000.00	$	51,218.75				
11/01/26	$	1,380,000.00				$	47,437.50	$	208,656.25	
05/01/27	$	1,380,000.00		$	115,000.00	$	47,437.50				
11/01/27	$	1,265,000.00				$	43,484.38	$	205,921.88	
05/01/28	$	1,265,000.00		$	125,000.00	$	43,484.38				
11/01/28	$	1,140,000.00				$	39,187.50	$	207,671.88	
05/01/29	$	1,140,000.00		$	130,000.00	$	39,187.50				
11/01/29	$	1,010,000.00				$	34,718.75	$	203,906.25	
05/01/30	$	1,010,000.00		$	140,000.00	$	34,718.75				
11/01/30	$	870,000.00				$	29,906.25	$	204,625.00	
05/01/31	$	870,000.00		$	150,000.00	$	29,906.25				
11/01/31	$	720,000.00				$	24,750.00	$	204,656.25	
05/01/32	$	720,000.00		$	160,000.00	$	24,750.00				
11/01/32	$	560,000.00				$	19,250.00	$	204,000.00	
05/01/33	$	560,000.00		$	175,000.00	$	19,250.00				
11/01/33	$	385,000.00				$	13,234.38	$	207,484.38	
05/01/34	$	385,000.00		$	185,000.00	$	13,234.38				
11/01/34	$	200,000.00				$	6,875.00	$	205,109.38	
05/01/35	$	200,000.00		$	200,000.00	$	6,875.00				
11/1/35										$	206,875.00	
Total					$	2,190,000.00		$	1,724,393.75		$	3,914,394.00	

19

Middle Village CDD

Percentage Allocation of O&M Assessments (1)

						High Density		High Density		Commercial/			
	Source	Single Family		Multi-Family		Mulit-Family		MF & Aquatics		Office		Total	
General Fund	Table 2	30.97%	25.12%		12.95%		23.40%		7.56%	100.00%	
Facility Administration	Table 6	41.72%	20.80%		8.76%		15.82%		12.90%	100.00%	
Common Area	Table 6	41.72%	20.80%		8.76%		15.82%		12.90%	100.00%	
Recreation Facilities	Table 7	36.25%	29.41%		15.17%		19.17%		0.00%	100.00%	
Aquatics Pool	Table 7	36.25%	29.41%		15.17%		19.17%		0.00%	100.00%	
Capital Reserve Funding	Estimated	37.00%	27.00%		13.00%		19.00%		4.00%	100.00%	
				Descripiton		Expenses							
				General Fund		$216,037							
				Facility Administration	$227,162							
				Common Area		$690,343							
				Recreation Facilities	$673,439							
				Aquatics Pool		$72,050							
				Capital Reserve	$104,471							
				Total		$1,983,502							

						High Density		High Density		Commercial/			
Description		Single Family		Multi-Family		Mulit-Family		MF & Aquatics		Office		Total	
General Fund		$66,915.24	$54,268.49		$27,976.79		$50,543.55		$16,332.40	$216,036.47	
Facility Administration		$94,772.90	$47,249.70		$19,899.39		$35,937.03		$29,303.90	$227,162.91	
Common Area		$288,011.10	$143,591.34		$60,474.05		$109,212.26		$89,054.25	$690,343.00	
Recreation Facilities		$244,121.64	$198,058.41		$102,160.70		$129,098.26		$0.00	$673,439.00	
Aquatics Pool		$26,118.13	$21,189.91		$10,929.99		$13,811.99		$0.00	$72,050.00	
Capital Reserve Funding		$38,654.10	$28,207.04		$13,581.17		$19,849.40		$4,178.82	$104,470.53	
													
Total		$   758,593.09		$ 492,564.89		$ 235,022.08		$   358,452.48		$ 138,869.36		$   1,983,501.91	
													
Allocation of Other Revenues		-$37,500		-$19,900		-$12,500		$8,900		-$33,432		($94,432.00)	
# of Units		1059	855	(2)	430	(3)	800	(4)	330,000			
										Square Feet			
Net Assessments After Allocation	$721,093.09	$472,664.89		$222,522.08		$367,352.48		$105,437.36	$1,889,069.91	
Discounts and Collections (6%)	$46,005.74		$30,129.37		$14,187.47		$23,437.09		$6,726.90		$120,522.66	
Gross Assessment		$767,098.83		$502,794.26		$236,709.55		$390,789.57		$112,164.27		$2,009,648.84	

Per Unit FY2019		$724		$588		$550		$488		$0.34			
													
Per Unit FY2018 (1)		$724		$588		$550		$488		$0.34			
% Increase		0%	0%		0%		0%		0%			
Amount Change from FY 2018	$0	$0		$0		$0		$0			

(1)	This table is for illustrative purposes and will be changed in future years depending upon budgeted expenditures.

(2)	Includes Cambridge 172 units, Coventry 130 units, Chestnut Ridge 148 units, Briar Oaks 209 units, and Willow Brook 200 units.

(3)	Includes Preserve 228 units and Plantation Oaks at 215 units.

(4)	Includes Millstone Village 160 units, Fieldstone 352 units and Jennings Point at 288 units.

20

Middle Village

Community Development District								Capital Reserve Fund		
												
		Adopted		Actual		Next		Projected		Adopted		
		Budget		Thru	3		Thru		Budget		
Description		FY 2018	6/30/18		Months	9/30/18		FY 2019		
REVENUES:												
Interest	$500	$7,992	$2,664	$10,656	$500		
Capital Reserve - Transfer In	$61,776	$61,776	$0	$61,776	$43,625		
General Reserve - Transfer In	$11,747	$11,747	$0	$11,747	$9,151		
Carryforward	$947,552	$920,307	$0	$920,307	$881,790		
TOTAL REVENUES								
	$1,021,575	$1,001,822	$2,664	$1,004,486	$935,066		
EXPENDITURES:												
Repair Replacements	$104,471	$92,022	$30,674	$122,696	$104,471		
Capital Projects	$0	$0	$0	$0	$0		
TOTAL EXPENDITURES								
		$104,471	$92,022	$30,674	$122,696	$104,471		
EXCESS REVENUES (EXPENDITURES)								
		$917,104	$909,800	($28,010)	$881,790	$830,595		

21

Middle Village

Community Development District			Middle Village SPE Holdings, LLC		
										
		Adopted		Actual		Projected		Adopted		
		Budget		Thru		Thru		Budget		
Description		FY 2018	6/30/18	9/30/18		FY 2019		
REVENUES:										
Bondholder Contributions	$14,270	$0	$14,270	$14,270		
Miscellaneous Revenues	$0	$815	$0	$0		
TOTAL REVENUES							
	$14,270	$815	$14,270	$14,270		
EXPENDITURES:										
Annual Corporate Fees	$150	$144	$144	$150		
Bank Charges/Other Current	$120	$128	$120	$120		
Contingency/Miscellaneous	$2,500	$0	$2,500	$2,500		
Insurance - Liability	$1,500	$562	$1,500	$1,500		
Engineering	$1,000	$0	$1,000	$1,000		
Management Fees	$6,000	$0	$6,000	$6,000		
Legal Fees	$3,000	$0	$3,000	$3,000		
Property Taxes	$0	$0	$0	$0		
TOTAL EXPENDITURES						
		$14,270	$834	$14,264	$14,270		
EXCESS REVENUES (EXPENDITURES)							
		$0	(19)	$6	$0		

22

Middle Village

Community Development District

Exhibit “A”

Allocation of Operating Reserves

Estimated Funds Available - First Quarter Operating Capital				
General Fund - Beginning Fund Balance - 10/1/17	$	117,538		
Recreation Fund - Beginning Fund Balance - 10/1/17	$	521,744		
Estimated General Fund Balance - Fiscal Year 2018	$	18,875		
Estimated Recreation Fund Balance - Fiscal Year 2018	$	278,020		
				
Total Estimated Funds Available - 9/30/2018	$	936,177		
Allocation of Funds Available - First Quarter Operating Capital				
				
General Fund Operating Reserve - First Quarter Operating Capital	$	43,771		
Recreation Fund Operating Reserve - First Quarter Operating Capital	$	348,553		
Total Reserve	$	392,325		
				
Total Working Capital Surplus "undesignated Fund Balance"@ 9/30/18	$	543,853		
Projected Capital Reserve Funds Available for FY 2019				
Capital Reserve Funds - Beginning Fund Balance				
Beginning Fund Balance - 10/1/18	$	939,971		
Projected Capital Reserve Fund Excess Expenditures - Fiscal Year 2018	$	(33,043)		
Total Estimated Capital Reserve Funds Available - 9/30/19	$	906,928		
Capital Reserve Funding - FY 2019				
Recreation Fund - General Reserve	$	43,625		
General Fund - Reserves	$	9,151		
Interest Income	$	3,000		
Proposed Expenses	$	(104,471)		
Total Funding Fiscal Year 2019	$	(48,695)		
				
Total Estimated Capital Reserve Fund Balances - 9/30/19	$	858,233		

23