Adopted Budget
Fiscal Year 2022

Silver Palms West Community Development District

August 20, 2021

Prepared by:

Silver Palms West
Community Development District

FY2022
 	Adopted Budget	

Revenues

Developer Contributions/Assessments
Total Revenues

$205,029

$205,029

Expenditures

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

$5,000
$1,250
$2,000
$3,000
$10,000
$3,300
$3,355
$32,400
$500
$1,000
$50
$200
$800
$6,050
$1,000
$525
$90
$175

Field
Field Management Landscape Maintenance Plant Replacement Repairs & Maintenance Drainage Maintenance Porter Services
Street Lighting Contingency

$12,000
$60,000
$5,000
$11,000
$14,400
$12,000
$18,000
$1,934

Total Expenditures

$205,029

Excess Revenues/Expenditures

 	$0	

Per Unit

Total

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Gross Assessment

$330.51

$215,820

Less: Disc.& Coll. (5%)

($16.53)

($10,791)

Net Assessment

$313.98

$205,029

Number of Units

653

Silver Palms West
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.

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.

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.

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 all of its financial activities, i.e. accounts payable, financial statements, etc. on a main frame computer leased by
Governmental Management Services – South Florida, LLC.

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.

Telephone
Telephone and fax machine

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Silver Palms West
Community Development District
GENERAL FUND BUDGET

Administrative: (continued)

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.

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.

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 Management
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.

Plant Replacement
The cost associated with any replacement of landscaping during the year.

Repairs & Maintenance
Any miscellaneous repairs not included in another budget line item.

Drainage Maintenance
The District will enter into a contract for the monthly maintenance of the District drainage needs.

Porter Services
The District will enter into a contract for these services.

Streetlighting
The Cost of supply streetlights to the District.

Contingency
Represents any unbudgeted expense.

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