Middle Village
Community Development District

Adopted Budget FY 2020

Middle Village Community Development District

Table of Contents

Pages

General Fund	1
General Fund Narrative	2-4
Recreation Fund	5-6
Recreation Narrative	7-15
Debt Service Series 2018	16
Debt Service Fund - Series 2018-1 Amortization	17
Debt Service Fund - Series 2018-2 Amortization	18
Assessment Allocation	19
Capital Reserve Fund	20
Exhibit 'A'	21

Middle Village
Community Development District	General Fund

	Adopted
Budget		Actual
Thru		Next
3		Projected
Thru		Adopted
Budget	
 Description			 	FY 2019			    6/30/19 		    Months			   9/30/19 		     FY 2020		
Revenues											
Maintenance Assessments		$215,687		$203,277		$12,410		$215,687		$215,687	
Interest Income		$350		$16,371		$2,500		$18,871		$5,000	
Miscellaneous Income		$0		$623		$0		$623		$0	
Total Revenues		 	$216,037 		     $220,270 		 	$14,910 		    $235,180 		 	$220,687 	
Expenditures											
Supervisors Fees		$12,000		$8,400		$3,000		$11,400		$12,000	
Travel		$209		$0		$100		$100		$209	
FICA Expense		$918		$643		$231		$874		$918	
Engineering		$10,500		$0		$2,500		$2,500		$10,500	
Trustee		$15,144		$15,100		$0		$15,100		$15,144	
Dissemination Agent		$2,100		$1,775		$525		$2,300		$2,100	
Assessment Roll		$7,550		$7,260		$0		$7,260		$7,550	
Attorney		$45,000		$25,028		$10,500		$35,528		$45,000	
Attorney-Foreclosure		$28,000		$0		$15,000		$15,000		$28,000	
Arbitrage		$750		$0		$600		$600		$750	
Annual Audit		$5,900		$4,700		$0		$4,700		$5,900	
Management Fees		$59,963		$44,972		$14,991		$59,963		$59,963	
Information Technology		$2,150		$1,629		$537		$2,166		$2,150	
Telephone		$425		$207		$75		$282		$425	
Postage		$600		$309		$105		$414		$600	
Printing & Binding		$2,700		$2,032		$400		$2,432		$2,700	
Records Storage		$200		$0		$200		$200		$200	
Insurance		$10,652		$9,877		$0		$9,877		$10,371	
Legal Advertising		$1,500		$674		$216		$890		$1,500	
Other Current Charges		$150		$0		$50		$50		$150	
Office Supplies		$300		$181		$50		$231		$300	
Website Compliance		$0		$2,250		$0		$2,250		$2,250	
Dues, Licenses & Subscriptions		$175		$175		$0		$175		$175	
Reserves		$9,151		$9,151		$0		$9,151		$11,832	
Administrative Expenses		 	$216,037 		     $134,363 		 	$49,080 		    $183,443 		 	$220,687 	
EXCESS REVENUES / (EXPENDITURES)		 	$0		 	$85,908 		  ($34,170) 		 	$51,737 		 	$0	

1

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.

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.

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.

	Adopted
Budget		Actual
Thru		Projected
3		Projected
Thru		Adopted
Budget	
 Description		     FY 2019			     6/30/19			     Months			    9/30/19 		     FY 2020		
Revenues										
Maintenance Assessments	$1,568,932		$1,577,121		$0		$1,577,121		$1,568,932	
Interest Income	$2,400		$6,390		$1,500		$7,890		$5,000	
Miscellaneous Revenue	$0		$38,459		$0		$38,459		$0	
Amenities Revenue	$55,000		$83,398		$5,000		$88,398		$55,000	
Cost Share Revenue-South Village	$36,662		$35,754		$0		$35,754		$36,662	
Carry Forward Surplus	$0		$0		$0		$0		$0	
Total Revenues	   $1,662,994 		    $1,741,122 		 	$6,500 		  $1,747,622 		    $1,665,594 	
Expenditures										
Administrative										
Management Fees - On Site Staff	$299,739		$227,363		$74,935		$302,298		$293,904	
Insurance	$45,879		$45,893		$0		$45,893		$46,674	
Other Current Charges	$5,868		$3,648		$1,000		$4,648		$3,500	
Permit Fees	$1,500		$1,264		$200		$1,464		$1,500	
Office Supplies	$500		$0		$250		$250		$500	
Capital Reserve	$33,625		$43,625		$0		$43,625		$50,906	
Administrative Expenses	 	$387,111 		 	$321,793 		 	$76,385 		 	$398,178 		 	$396,984 	
Maintenance										

Security	
$92,047		
$38,122		
$12,708		
$50,830		
$75,000	
Security Clay County	$43,609		$31,067		$12,000		$43,067		$43,609	
Electric	$22,000		$12,524		$3,900		$16,424		$22,000	
Streetlighting	$32,000		$22,215		$7,584		$29,799		$32,000	
Irrigation Maintenance	$4,000		$11,701		$0		$11,701		$4,000	
Landscape Maintenance	$413,172		$303,111		$105,042		$408,153		$428,571	
Common Area Maintenance	$54,847		$30,914		$10,000		$40,914		$54,847	
Lake Maintenance	$23,668		$16,278		$5,000		$21,278		$23,668	
Miscellaneous Maintenance	$5,000		$2,250		$250		$2,500		$5,000	
Common Area Expenses	 	$690,343 		 	$468,183 		 	$156,484 		 	$624,667 		 	$688,695 	

	Adopted
Budget		Actual
Thru		Projected
3		Projected
Thru		Adopted
Budget	
 Description		     FY 2019			     6/30/19			     Months			    9/30/19 		     FY 2020		
Recreation Facility										
Amenity Staff	$163,050		$106,853		$56,000		$162,853		$145,000	
Janitorial	$42,418		$32,144		$9,000		$41,144		$42,418	
Telephone	$5,364		$2,901		$810		$3,711		$5,364	
Electric	$78,000		$49,042		$14,400		$63,442		$78,000	
Water / Sewer	$42,100		$27,511		$12,000		$39,511		$42,100	
Gas/Heat (Pool)	$3,950		$27,784		$7,500		$35,284		$20,000	
Refuse Service	$14,200		$12,562		$4,200		$16,762		$14,200	
Pool Maintenance & Chemicals	$87,318		$41,818		$20,000		$61,818		$87,318	
Cable	$5,102		$3,518		$1,185		$4,703		$5,102	
Special Events	$5,000		$3,061		$1,000		$4,061		$5,000	
Office Supplies and Equipment	$3,000		$274		$50		$324		$1,500	
Facility Maintenance - General	$37,707		$28,237		$9,300		$37,537		$37,707	
Facility Maintenance - Preventive Contracts	$15,350		$2,711		$1,000		$3,711		$15,350	
Facility Maintenance - Contingency	$27,600		$20,900		$7,500		$28,400		$27,600	
Elevator Maintenance	$2,576		$1,688		$500		$2,188		$2,576	
Recreation Passes	$7,125		$4,074		$750		$4,824		$5,000	
Lighting Repairs	$10,000		$7,367		$1,500		$8,867		$10,000	
Tennis Court Maintenance	$35,680		$25,610		$2,000		$27,610		$35,680	
Total Recreation Facility	 	$585,540 		 	$398,054 		 	$148,695 		 	$546,749 		 	$579,915 	
Total Expenses	   $1,662,994 		    $1,188,030 		 	$381,564 		  $1,569,594 		    $1,665,594 	
EXCESS REVENUES / (EXPENDITURES)	 	$0		 	$553,092 		   ($375,064) 		 	$178,028 		 	$0	

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 (“GMS”) for the supervision and on-site management of the District’s amenities. The responsibilities include management of District maintenance contracts, scheduling special events, management of District employees, rental of facilities, scheduling of special events, resident inquiries and other maintenance related items. The District shares the cost of a community manager, aquatics director, fitness center/access director, rental coordinator and administrative assistant with the Double Branch Community Development District.

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	Annual	
Play Pool Permit	$	250	
Lap Pool Permit	$	250	
Spray Pool Permit	$	125	
State Public Broadcast	$	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 Allied Universal Security, a security company to provide Athletic Center and Common area security services and a roving guard.

Description	Monthly	Annual	
Security Contract	$	4,236	$	50,829	
Contingency/Extra Coverage	$	2,014	$	24,171	
Total	$	6,250	$	75,000	

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).

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	
Total		$	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.

Landscape Maintenance
The District has contracted with Verdego 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	
Landscape Contract	$	35,714	$	428,571	

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	
Lake Maintenance Contract	$	1,489	$	17,868	
Contingency	$	483	$	5,800	
Total	$	1,972	$	23,668	

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

Maintenance: Recreational Facility

Amenity Staff
The District pays direct salaries for one front desk staff at the fitness center and 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	
Janitorial Contract	$	2,905	$	34,862	
Contingency	$	96	$	1,156	
Supplies	$	533	$	6,400	
Total	$	3,534	$	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	
ATT Telephone Contract	$	422	$	5,064	
Contingency	$	25	$	300	
Total	$	447	$	5,364	

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	$	4,000	$	48,000	
8353831	853 Oakleaf Plantation Pkwy (Pool)	$	1,750	$	21,000	
	Contingency	$	750	$	9,000	
Total		$	6,500	$	78,000	

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	
68260125	845 Oakleaf Plantation -Pool	$	494	$	5,928	
	Total JEA	$	1,524	$ 12,352	
				
210999	3214-1 Tower Oaks Drive Rec	$	359	$	4,307	
235920	701-1 Turkey Point Drive Rec	$	23	$	277	
235921	878-1 Songbird Drive Rec	$	24	$	287	
235922	738-1 Chestwood Chase Drive	$	27	$	319	
241833	3214-2 Tower Oaks Drive Rec	$	59	$	706	
274569	1089 Oakleaf Plantation Pkwy	$	330	$	3,957	
274570	1092 Oakleaf Plantation Pkwy	$	145	$	1,734	
276170	3713-1 Chasing Falls Rd Recl Irrig	$	23	$	274	
276168	533-1 Southwood Way Irrig	$	24	$	290	
276169	533-2 Southwood Way Rec. Irrig	$	47	$	566	
	Contingency	$ 1,419.25	$	17,031	
	Total Clay County Utility Authority	$	2,480	$ 29,748	
				
Total Water/Sewer/Reclaim	$	4,004	$ 42,100	

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

Pool Maintenance & Chemicals
The District currently has a contract with Poolsure to supply chemicals and chemical feeders for the Amenity Center pools. The District is contracted with RMS for the cleaning, water testing, and treatment of the Amenity Center pools. During summer months, district employees will help with basic poolside cleaning such as brushing, skimming, and tile cleaning. Additionally, GMS staff handles the annual maintenance projects on the pool and deck features. The amount is based upon the following:

Description	Monthly	Annual	
Cleaning Contract	$	2,500	$	30,000	
Chemical Contract	$	1,705	$	20,465	
Fuel Surcharge	$	216	$	2,596	
Contingency	$	2,855	$	34,257	
Total	$	7,277	$	87,318	

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.

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	Description	Annual	
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		$	12,808	
Total		$ 27,600	

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	$	160	$	1,916	
Inspection	$	-	$	250	
Contingency	$	34	$	410	
Total	$	194	$	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.

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.

Middle Village
Community Development District	Debt Service Fund
Series 2018-1/2018-2

Adopted	Actual	Next
Budget	Thru	3		Projected
Thru		Adopted
Budget	
 Description			 	FY 2019	 6/30/19 	Months			     9/30/19			     FY 2020		
Revenues							
Carry Forward Surplus		$525,172	$594,479	$0		$594,479		$615,630	
Special Assessments		$2,099,315	$2,097,218	$2,097		$2,099,315		$2,099,315	
Interest Income		$3,000	$30,762	$15,000		$45,762		$5,000	
Interfund Transfer In		$0	$8,476	$0		$8,476		$0	
Total Revenues		 
 	$2,627,487       $2,730,934 	$17,097 		    $2,748,032 		     $2,719,945 	
Expenditures							
Series 2018A-1							
Interest 11/1		$454,130	$454,130	$0		$454,130		$425,364	
Special Call 5/1		$0	$4,000	$0		$4,000		$0	
Interest 5/1		$439,481	$439,481	$0		$439,481		$425,364	
Principal 5/1		$985,000	$985,000	$0		$985,000		$1,012,000	
Series 2018A-2							
Interest 11/1		$71,042	$71,042	$0		$71,042		$66,150	
Special Call 11/1		$0	$0	$0		$0		$0	
Interest 5/1		$68,750	$68,750	$0		$68,750		$66,150	
Principal 5/1		$110,000	$110,000	$0		$110,000		$115,000	
Other Financing Sources							
Interfund Transfer Out		$0	0	$0		$0		$0	
Other Debt Costs		$0	$0	$0		$0		$0	
Total Expenses		 
 	$2,128,402       $2,132,402 	$0 		    $2,132,402 		     $2,110,028 	
EXCESS REVENUES / (EXPENDITURES)		 
$499,085	$598,532	$17,097		$615,630		$609,917	

Interest November 1, 2020		
Series 2018-1		
$409,982	
				Series 2018-2		 	$63,563 	
						 	$473,544 	
				
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 	

 	 	 	

DATE

 	BALANCE		 	PRINCIPAL		 	INTEREST		 	TOTAL	

11/01/19	$ 21,671,000.00		$	425,363.95	$	425,363.95	
05/01/20	$ 21,671,000.00	$	1,012,000.00	$	425,363.95		
11/01/20	$ 20,659,000.00		$	409,981.55	$	1,847,345.50	
05/01/21	$ 20,659,000.00	$	1,045,000.00	$	409,981.55		
11/01/21	$ 19,614,000.00		$	393,313.80	$	1,848,295.35	
05/01/22	$ 19,614,000.00	$	1,079,000.00	$	393,313.80		
11/01/22	$ 18,535,000.00		$	375,348.45	$	1,847,662.25	
05/01/23	$ 18,535,000.00	$	1,117,000.00	$	375,348.45		
11/01/23	$ 17,418,000.00		$	355,856.80	$	1,848,205.25	
05/01/24	$ 17,418,000.00	$	1,157,000.00	$	355,856.80		
11/01/24	$ 16,261,000.00		$	335,088.65	$	1,847,945.45	
05/01/25	$ 16,261,000.00	$	1,200,000.00	$	335,088.65		
11/01/25	$ 15,061,000.00		$	312,828.65	$	1,847,917.30	
05/01/26	$ 15,061,000.00	$	1,246,000.00	$	312,828.65		
11/01/26	$ 13,815,000.00		$	288,967.75	$	1,847,796.40	
05/01/27	$ 13,815,000.00	$	1,295,000.00	$	288,967.75		
11/01/27	$ 12,520,000.00		$	263,585.75	$	1,847,553.50	
05/01/28	$ 12,520,000.00	$	1,347,000.00	$	263,585.75		
11/01/28	$ 11,173,000.00		$	236,713.10	$	1,847,298.85	
05/01/29	$ 11,173,000.00	$	1,403,000.00	$	236,713.10		
11/01/29	$	9,770,000.00		$	208,232.20	$	1,847,945.30	
05/01/30	$	9,770,000.00	$	1,461,000.00	$	208,232.20		
11/01/30	$	8,309,000.00		$	178,062.55	$	1,847,294.75	
05/01/31	$	8,309,000.00	$	1,523,000.00	$	178,062.55		
11/01/31	$	6,786,000.00		$	146,231.85	$	1,847,294.40	
05/01/32	$	6,786,000.00	$	1,589,000.00	$	146,231.85		
11/01/32	$	5,197,000.00		$	112,545.05	$	1,847,776.90	
05/01/33	$	5,197,000.00	$	1,658,000.00	$	112,545.05		
11/01/33	$	3,539,000.00		$	76,980.95	$	1,847,526.00	
05/01/34	$	3,539,000.00	$	1,731,000.00	$	76,980.95		
11/01/34	$	1,808,000.00		$	39,504.80	$	1,847,485.75	
05/01/35	$	1,808,000.00	$	1,808,000.00	$	39,504.80		
11/01/35				$	1,847,504.80	

 	Total 

   $	21,671,000.00 

   $ 8,317,211.70 

   $	29,988,211.70 

 	 	 	

DATE

 	BALANCE		 	PRINCIPAL		 	INTEREST		 	TOTAL	

11/01/19	$	2,695,000.00		$	66,150.00	$	66,150.00	
05/01/20	$	2,695,000.00	$	115,000.00	$	66,150.00		
11/01/20	$	2,580,000.00		$	63,562.50	$	244,712.50	
05/01/21	$	2,580,000.00	$	120,000.00	$	63,562.50		
11/01/21	$	2,460,000.00		$	60,862.50	$	244,425.00	
05/01/22	$	2,460,000.00	$	125,000.00	$	60,862.50		
11/01/22	$	2,335,000.00		$	58,050.00	$	243,912.50	
05/01/23	$	2,335,000.00	$	130,000.00	$	58,050.00		
11/01/23	$	2,205,000.00		$	55,125.00	$	243,175.00	
05/01/24	$	2,205,000.00	$	140,000.00	$	55,125.00		
11/01/24	$	2,065,000.00		$	51,625.00	$	246,750.00	
05/01/25	$	2,065,000.00	$	145,000.00	$	51,625.00		
11/01/25	$	1,920,000.00		$	48,000.00	$	244,625.00	
05/01/26	$	1,920,000.00	$	155,000.00	$	48,000.00		
11/01/26	$	1,765,000.00		$	44,125.00	$	247,125.00	
05/01/27	$	1,765,000.00	$	160,000.00	$	44,125.00		
11/01/27	$	1,605,000.00		$	40,125.00	$	244,250.00	
05/01/28	$	1,605,000.00	$	170,000.00	$	40,125.00		
11/01/28	$	1,435,000.00		$	35,875.00	$	246,000.00	
05/01/29	$	1,435,000.00	$	175,000.00	$	35,875.00		
11/01/29	$	1,260,000.00		$	31,500.00	$	242,375.00	
05/01/30	$	1,260,000.00	$	185,000.00	$	31,500.00		
11/01/30	$	1,075,000.00		$	26,875.00	$	243,375.00	
05/01/31	$	1,075,000.00	$	195,000.00	$	26,875.00		
11/01/31	$	880,000.00		$	22,000.00	$	243,875.00	
05/01/32	$	880,000.00	$	205,000.00	$	22,000.00		
11/01/32	$	675,000.00		$	16,875.00	$	243,875.00	
05/01/33	$	675,000.00	$	215,000.00	$	16,875.00		
11/01/33	$	460,000.00		$	11,500.00	$	243,375.00	
05/01/34	$	460,000.00	$	225,000.00	$	11,500.00		
11/01/34	$	235,000.00		$	5,875.00	$	242,375.00	
05/01/35	$	235,000.00	$	235,000.00	$	5,875.00		
 	11/1/35 		 		 		   $	240,875.00 	
 	Total 		   $	2,695,000.00 	   $	1,276,250.00 	   $	3,971,250.00 	

Middle Village CDD
Percentage Allocation of O&M Assessments (1)

Source	
Single Family		
Multi-Family	High Density
Mulit-Family		High Density
MF & Aquatics		Commercial/
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	$220,687						
				Facility Administration	$396,984						
				Common Area	$688,695						
				Recreation Facilities	$579,915						
				Capital Reserve	 	$104,471 						
				Total	      $1,990,751 						

Description		
Single Family		
Multi-Family	High Density
Mulit-Family		High Density
MF & Aquatics		Commercial/
Office	
Total	

General Fund		
$68,356		
$55,437	
$28,579		
$51,641		
$16,684	
$220,696	
Facility Administration		$165,623		$82,573	$34,776		$62,803		$51,211	$396,986	
Common Area		$287,324		$143,249	$60,330		$108,952		$88,842	$688,695	
Recreation Facilities		$210,219		$170,553	$87,973		$111,170		$0	$579,915	
Capital Reserve Funding		$38,654		$28,207	$13,581		$19,849		$4,179	$104,471	
Total		 	$770,176 		 	$480,018 	 	$225,239 		 	$354,414 		 	$160,915 	 	$1,990,762 	
Allocation of Other Revenues		 	-$49,671 		 	-$7,073 	 	-$2,842 		 	$12,601 		 	-$55,217 	 	($102,202.14) 	
# of Units		1059		855	(2)	430	(3)	800	(4)	330,000	Sq Ft.		
Net Assessments After Allocation	$720,505		$472,945		$222,396		$367,015		$105,698		$1,888,560	
Discounts and Collections (6%)	 	$45,968 		 	$30,147 		 	$14,179 		 	$23,416 		 	$6,744 		 	$120,490 	
Gross Assessment	 	$766,473 		 	$503,092 		 	$236,576 		 	$390,431 		 	$112,441 		 	$2,009,106 	
												
Per Unit FY2020	 	$723.77 		 	$588.41 		 	$550.18 		 	$488.03 		 	$0.34 			
Per Unit FY2019 (1)	 	$723.77 		 	$588.41 		 	$550.18 		 	$488.03 		 	$0.34 			
% Increase	0%		0%		0%		0%		0%			
Amount Change from FY 2019	$0		$0		$0		$0		$0			

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

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

Includes Preserve 228 units and Plantation Oaks at 215 units.

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

Middle Village
Community Development District	Capital Reserve Fund

	Adopted
Budget		Actual
Thru		Next
3		Projected
Thru		Adopted
Budget	
 Description			 	FY 2019			     6/30/19			    Months			     9/30/19			 	FY 2020		
REVENUES:											
Interest		$500		$14,955		$5,000		$19,955		$5,000	
Capital Reserve - Transfer In		$43,625		$43,625		$0		$43,625		$50,906	
General Reserve - Transfer In		$9,151		$9,151		$0		$9,151		$11,832	
Carryforward		$881,790		$875,999		$0		$875,999		$844,259	
TOTAL REVENUES		$935,066		$943,730		$5,000		$948,730		$911,997	

EXPENDITURES:											
Repair Replacements		$104,471		$89,163		$15,307		$104,471		$104,471	
Capital Projects		$0		$0		$0		$0		$0	
TOTAL EXPENDITURES		$104,471		$89,163		$15,307		$104,471		$104,471	
											
EXCESS REVENUES (EXPENDITURES)		$830,595		$854,567		($10,307)		$844,259		$807,526	

Middle Village Community Development District
Exhibit “A”

Allocation of Operating Reserves

Estimated Funds Available - First Quarter Operating Capital

General Fund - Beginning Fund Balance - 10/1/18	$	231,557	
Recreation Fund - Beginning Fund Balance - 10/1/18	$	1,001,774	
Estimated General Excess Revenues - Fiscal Year 2019	$	51,737	
Estimated Recreation Excess Revenues- Fiscal Year 2019	$	178,028	
Total Estimated Operating Funds Available - 9/30/2019	   $	1,463,097 	

Allocation of Funds Available - First Quarter Operating Capital

General Fund Operating Reserve - First Quarter Operating Capital	$	55,172	
Recreation Fund Operating Reserve - First Quarter Operating Capital	   $	416,398 	
Total Reserve	   $	471,570 	
Total Working Capital Surplus	   $	991,526 	

Projected Capital Reserve Funds Available for FY 2019

Capital Reserve Funds - Beginning Fund Balance

Capital Reserve- Beginning Fund Balance - 10/1/18	$	875,999	
Projected Capital Excess Revenues - Fiscal Year 2019	   $	(31,740) 	
Total Estimated Reserve Funds Available - 9/30/19	$	844,259	
Recreation Fund - General Reserve	$	50,906	
General Fund - Reserves	   $	11,832 	
Total Funding Fiscal Year 2019	$	62,738	
Total Estimate Reserve Fund Balances - 9/30/20	   $	906,997 	

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