Adopted Budget
Fiscal Year 2023

Solterra Community Development District

August 18, 2022

Solterra
Community Development District

General Fund

Adopted Budget
 	FY2022	

Actual thru 7/31/2022

Projected Next
2 Months

Total Projected at 9/30/2022

Adopted Budget FY2023

Developer Contributions

$99,725

$51,534

$8,841

$60,375

$99,725

Total Revenues

 	$99,725 

$27,025

$8,841

$60,375

$99,725

Expenditures

Administrative

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

$12,000
$600
$2,500
$5,000
$20,000
$5,000
$6,000
$36,000
$750
$1,000
$6,000
$2,500
$700
$1,500
$0
$175

$2,160
$0
$0
$0
$5,770
$6,000
$0
$30,000
$183
$285
$5,000
$342
$335
$1,250
$45
$175

$2,699
$0
$0
$0
$1,923
$0
$0
$2,998
$131
$204
$0
$550
$67
$250
$9
$0

$4,859
$0
$0
$0
$7,693
$6,000
$0
$32,998
$314
$489
$5,000
$892
$402
$1,500
$54
$175

$10,900
$550
$2,500
$5,000
$20,000
$6,100
$6,000
$36,000
$750
$1,000
$6,000
$2,500
$700
$1,500
$50
$175

(1)

(1)

(1)

(1)

Total Expenditures

 	$99,725 

 	$51,545 

 	$8,831 

 	$60,375 

 	$99,725 

Excess Revenues/Expenditures

 	$0 

($24,520)

$10

$0

$0

(1)

Expenses related to the Bonds.

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Solterra
Community Development District

General Fund

REVENUES:

Developer Contributions
The District entered into a funding agreement with the developer to fund all general operating expenditures for the Fiscal Year.

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 Rebate
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.

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.

Assessment Roll
The costs associated with preparing, processing and administering the annual assessment place on the County’s tax roll.

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.

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Solterra
Community Development District

General Fund

Administrative: (continued)

Other Current Charges
Bank charges and any other miscellaneous expenses that incurred during the year.

Website Administration
Per Chapter 2014-22, Laws of Florida, all Districts must have a website to provide detailed information on the CDD as well as links to useful websites regarding Compliance issues. This website will be maintained by GMS-SF, LLC and updated monthly.

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.

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