Adopted Budget
Fiscal Year 2022

Oakridge Community Development District

July 7, 2021

Oakridge
Community Development District

TABLE OF CONTENTS

General Fund
Budget Narrative

Page 1
Page 2-3

Capital Reserve Fund
Budget Narrative

Page 4
Page 5

Debt Service Fund Series 2020
Budget
Amortization Schedule

Page 6
Page 7

Oakridge
Community Development District

General Fund

FY2021
Adopted
 	Budget	

Actual thru
     5/31/2021 

Projected Next
     4 Months 

Total Projected at
     9/30/2021 

FY2022
Adopted
 	Budget	

 Description	

Revenues
Assigned Fund Balance Maintenance Assessments Interest Income

$146,323
$55,277
$2,500

$262,231
$54,758
$274

$0
$519
$20

$262,231
$55,277
$294

$114,685
$55,277
$250

Total Revenues

 	$204,099 

 	$317,262 

 	$539 

 	$317,801 

 	$170,211 

Expenditures

Administrative

Supervisors Fees FICA Expense Engineering Fees Attorney Fees Property Appraiser Annual Audit Management Fees Website Compliance Postage
Insurance Printing & Binding Legal Advertising
Other Current Charges Office  Supplies
Dues, Licenses Maintenance Reserve 1st Quarter Operating

$5,000
$383
$8,500
$7,500
$1,240
$4,200
$16,586
$1,000
$200
$6,646
$500
$750
$550
$150
$175
$140,000
$10,720

$3,000
$230
$2,938
$3,985
$1,236
$4,100
$11,057
$667
$345
$6,503
$210
$452
$456
$49
$175
$0
$0

$1,000
$77
$5,563
$3,515
$0
$0
$5,529
$333
$50
$0
$290
$350
$188
$101
$0
$140,000
$10,720

$4,000
$306
$8,500
$7,500
$1,236
$4,100
$16,586
$1,000
$395
$6,503
$500
$802
$644
$150
$175
$140,000
$10,720

$5,000
$383
$8,500
$7,500
$1,240
$4,200
$16,586
$1,000
$200
$6,646
$500
$750
$550
$150
$175
$105,000
$11,832

Total Administrative

 	$204,099 

 	$35,402 

 	$167,715 

 	$203,116 

 	$170,211 

Total Expenditures

 	$204,099 

 	$35,402 

 	$167,715 

 	$203,116 

 	$170,211 

Excess   Revenues/(Expenditures)
TOTAL ENDING FUND BALANCE

 	$0 
$0

 	$281,861 
$281,861

 	($167,176)
($167,176)

 	$114,685 
$114,685

 	$0 
$0

FY2021

FY2022

Hollywood Oaks

Oakridge North
$20,718
$22,040
232

Hollywood Oaks

Oakridge North
$20,718
$22,040
232

South
$21,879
$23,275
245

South
$21,879
$23,275
245

Net Assessments Gross  Assessments
# of Units
Per Unit Assessments

$12,681
$13,490
142

$12,681
$13,490
142

*

*

$95.00

$95.00

$95.00

$95.00

$95.00

$95.00

* There are 2 units that are lot and a half

Page 1

Oakridge
Community Development District

General Fund

REVENUES:

Maintenance 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.

Interest Income
The District will have all excess funds invested with the State Board of Administration. The Amount is based upon the estimated average balance of funds available during the fiscal year.

EXPENDITURES:

Administrative:

Supervisor Fees
The Florida Statutes allows each board member to receive $200 per meeting not to exceed $4,800 in one year.

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 engineer will be providing general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review invoices, etc.

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.

Property Appraiser
Represents the fee paid to the Broward County Property Appraiser’s office to place the Assessments on the Tax Roll.

Annual Audit
The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm.

Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services – South Florida, LLC.  These services are further outlined in Exhibit "A" of the Management Agreement.

Website Compliance
Per Chapter 2014-22, Laws of Florida, all District must have a website by October 1, 2015 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
Mailing of agenda packages, overnight deliveries, correspondence, etc.

Insurance
The District's General Liability & Public Officials Liability Insurance policy is with Preferred Governmental Insurance Trust which specializes in providing insurance coverage to governmental agencies. The amount is based upon similar Community Development Districts.

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

Legal Advertising
The District is required to advertise various notices for monthly Board meetings, public hearings etc in a newspaper of general circulation.

Page 2

Oakridge
Community Development District

General Fund

Administrative: (continued)

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.

Maintenance Reserve
The Reserve funding is for the Capital Repairs and Replacements for the Districts assets which are utilized by the  residing landowners.

1st Quarter Operating
Represents funds needed for 1st Quarter Operating of next Fiscal Year, prior to the collection of Maintenance Assessments from the Tax Collector.

Page 3

Oakridge
Community Development District

Capital Reserve Fund

FY2021
Adopted
 	Budget	

Actual thru
     5/31/2021 

Projected Next
     4 Months 

Total Projected at
     9/30/2021 

FY2022
Adopted
 	Budget	

 Description	

Revenues

Interest Income Maintenance Reserve Assigned Fund Balance

$2,500
$100,000
$513,912

$455
$0
$411,378

$100
$140,000
$0

$555
$140,000
$411,378

$450
$105,000
$551,576

Total Revenues

 	$616,412 

 	$411,833 

 	$140,100 

 	$551,933 

 	$657,026 

Expenditures

Capital Reserve Expenses

Improvements - Hollywood Oaks Improvements - Oakridge
Improvements - Oakridge - Lake Erosion Bank Charges

$65,688
$130,876
$5,000
$384

$0
$0
$0
$238

$0
$0
$0
$120

$0
$0
$0
$358

$65,688
$130,876
$5,000
$384

Capital Reserve Expenditures

 	$201,948 

 	$238 

 	$120 

 	$358 

 	$201,948 

Excess   Revenues/(Expenditures)

 	$414,464 

 	$411,596 

 	$139,980 

 	$551,576 

 	$455,078 

Page 4

Oakridge
Community Development District

Capital Reserve Fund

REVENUES:

Maintenance Reserves
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.

Interest Income
The District will have all excess funds invested with the State Board of Administration. average balance of funds available during the fiscal year.

The Amount is based upon the   estimated

EXPENDITURES:

Capital Reserve:

Improvements for Hollywood Oaks
Represents improvements for Hollywood Oaks within the district.

Improvements for Oakridge
Represents improvements for Oakridge within the district.

Improvements for Oakridge – Lake Erosion
Represents improvements to the lake erosion within the CDD.

Page 5

Oakridge
Community Development District

Debt Service - Series 2020

FY2021
Adopted
 	Budget	

Actual thru
     5/31/2021 

Projected Next
     4 Months 

Total Projected at
     9/30/2021 

FY2022
Adopted
 	Budget	

 Description	

Revenues

Maintenance Assessments Interest  Income
Assigned Fund Balance

$140,590
$2,500
$10,237

$139,047
$2
$10,237

$1,543
$0
$0

$140,590
$2
$10,237

$140,590
$0
$25,147

Total Revenues

 	$153,328 

 	$149,287 

 	$1,543 

 	$150,830 

 	$165,737 

Expenditures

Series 2020

Interest - 11/1 Interest - 5/1 Principal - 5/1

$10,237
$14,285
$110,000

$10,237
$14,285
$110,000

$0
$0
$0

$10,237
$14,285
$110,000

$13,306
$13,306
$115,000

Total Expenditures

 	$134,522 

 	$134,522 

 	$0 

 	$134,522 

 	$141,611 

Excess   Revenues/(Expenditures)

 	$18,806 

 	$14,765 

 	$1,543 

 	$16,308 

 	$24,126 

Other Financing Sources/(Uses)

Interfund Transfers In/(Out)

$0

$8,839

$0

$8,839

$0

Total Other Financing  Sources/(Uses)

 	$0 

 	$8,839 

 	$0 

 	$8,839 

 	$0 

TOTAL ENDING FUND BALANCE

$18,806

$23,604

$1,543

$25,147

$24,126

11/1/22

$12,282

Gross Amount

No. of Units

FY 2022

*504231191260 is a double lot and gets two assessments

Page 6

Net Assessments	$140,590
Plus Collection Fees (6%)	$8,974
Gross Assessments	$149,564

Banyan Oakridge *	140	$406.48	$56,907
Oakridge North	232	$156.91	$36,403
Oakridge South	245	$224.63	$55,034
Banyan Multi	 	2	$609.70	$1,219
619

Oakridge
COMMUNITY DEVELOPMENT DISTRICT

Series 2020, Special Assessment Revenue Bonds
Amortization Schedule

PRINCIPAL
 	BALANCE	

 	DATE	
1-Nov-20
1-May-21

 	INTEREST	

 	PRINCIPAL	

 	TOTAL	

$
$

1,605,000
1,605,000

$
$

10,237.23
14,284.50

$
$

- 110,000.00

$

10,237.23

1-Nov-22
1-May-23
1-Nov-23
1-May-24
1-Nov-24
1-May-25
1-Nov-25
1-May-26
1-Nov-26
1-May-27
1-Nov-27
1-May-28
1-Nov-28
1-May-29
1-Nov-29
1-May-30
1-Nov-30
1-May-31
1-Nov-31
1-May-32
1-Nov-32
1-May-33

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

1,380,000
1,380,000
1,265,000
1,265,000
1,150,000
1,150,000
1,030,000
1,030,000
910,000
910,000
785,000
785,000
660,000
660,000
530,000
530,000
400,000
400,000
270,000
270,000
135,000
135,000

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

12,282.00
12,282.00
11,258.50
11,258.50
10,235.00
10,235.00
9,167.00
9,167.00
8,099.00
8,099.00
6,986.50
6,986.50
5,874.00
5,874.00
4,717.00
4,717.00
3,560.00
3,560.00
2,403.00
2,403.00
1,201.50
1,201.50

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

- 115,000.00
- 115,000.00
- 120,000.00
- 120,000.00
- 125,000.00
- 125,000.00
- 130,000.00
- 130,000.00
- 130,000.00
-
135,000.00
- 135,000.00

$

140,587.50

$

138,540.50

$

136,493.50

$

139,402.00

$

137,266.00

$

140,085.50

$

137,860.50

$

140,591.00

$

138,277.00

$

135,963.00

$

138,604.50

 	
   $    202,699.73 

 	
   $	1,605,000.00 

   $	136,201.50 
   $	1,807,699.73 

Page 7

1-Nov-21	$	1,495,000	$	13,305.50	$	-	$	137,590.00
1-May-22	$	1,495,000	$	13,305.50	$	115,000.00