Solterra
Community Development District

Adopted Budget
FY2024

Table of Contents

1		General Fund

2-3		Narratives

Solterra	
Community Development District	
Adopted Budget	
General Fund	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2023	6/30/23	3 Months	9/30/23	FY 2024	

REVENUES:

Developer Contributions	$99,725	$61,200	$20,541	$81,741	$99,925	

TOTAL REVENUES	$99,725	$61,200	$20,541	$81,741	$99,925	

EXPENDITURES:

Administrative:						
Engineering	$12,000	$1,103	$5,000	$6,103	$10,900	
Attorney	20,000	13,799	6,900	20,699	20,000	
Annual Audit	5,000	6,200	-	6,200	6,300	
Assessment Roll Administration	5,000	-	-	-	5,000	
Arbitrage Rebate	600	-	-	-	550	
Dissemination Agent	2,500	-	-	-	2,500	
Trustee Fees	6,000	-	-	-	6,000	
Management Fees	36,000	27,000	9,000	36,000	36,000	
Website Maintenance	1,500	1,125	375	1,500	1,500	
Postage & Delivery	750	124	41	165	750	
Insurance General Liability	6,000	5,375	-	5,375	6,000	
Printing & Binding	1,000	600	300	900	1,000	
Legal Advertising	2,500	2,064	1,500	3,564	2,500	
Other Current Charges	700	315	250	565	700	
Office Supplies	-	289	206	495	50	
Dues, Licenses & Subscriptions	175	175	-	175	175	

TOTAL ADMINISTRATIVE	$99,725	$58,169	$23,572	$81,741	$99,925	

TOTAL EXPENDITURES	$99,725	$58,169	$23,572	$81,741	$99,925	

EXCESS REVENUES (EXPENDITURES)	$-	$3,032	$(3,032)	$-	$-	

Solterra	
Community Development District	
Budget Narrative	
Fiscal Year 2024	

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
The District's engineer will provide general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review of invoices, and other specifically requested assignments.	
Attorney
The District’s Attorney, will be providing general legal services to the District, i.e., attendance and preparation for monthly Board meetings, review of contracts, review of agreements and resolutions, and other research assigned as directed by the Board of Supervisors and the District Manager.	
Annual Audit
The District is required to conduct an annual audit of its financial records by an Independent Certified Public Accounting Firm. The budgeted amount for the fiscal year is based on contracted fees from the previous year engagement plus anticipated increase.	
Assessment Roll Administration
GMS SF, LLC provides assessment services for closing lot sales, assessment roll services with the local Tax Collector and financial advisory services.	
Arbitrage Rebate
The District has contracted with its independent auditors to annually calculate the arbitrage rebate liability on its 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 requirements for un-rated bond issues.	
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. The budgeted amount for the fiscal year is based on the contracted fees outlined in Exhibit "A" of the Management Agreement.	
Website Maintenance
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.	
Postage and Delivery
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.	

Solterra	
Community Development District	
Budget Narrative	
Fiscal Year 2024	

Expenditures - Administrative (continued)

Insurance General Liability
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.	
Printing and Binding
Copies used in the preparation of agenda packages, required mailings, and other special projects.	
Legal Advertising
The District is required to advertise various notices for monthly Board meetings and other public hearings in a newspaper of general circulation.	
Other Current Charges
This includes monthly bank charges and any other miscellaneous expenses that incur during the year.	
Office Supplies
Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects.	
Due, Licenses & Subscriptions
The District is required to pay an annual fee to the Department of Economic Opportunity Community Affairs for $175.