Elevation Pointe FKA Premium Pointe Community Development District Adopted Budget FY 2022 August 27, 2021 Elevation Pointe Community Development District BUDGET TABLE OF CONTENTS General Fund …..…………………………………..……………………………….……………….…Page 1 General Fund Narrative ……………………………………………………………………………Page 2-4 Elevation Pointe Community Development District General Fund Adopted Actual Next Projected Adopted Budget YTD 2 at Budget Description *FY2021 7/31/21 Months 9/30/21 FY 2022 Revenues Developer Contributions $75,630 $50,610 $15,609 $66,219 $122,693 Total Revenues $75,630 $50,610 $15,609 $66,219 $122,693 Expenditures Administrative Supervisors Fees $8,000 $0 $0 $0 $12,000 FICA Expense $612 $0 $0 $0 $918 Engineering $8,000 $0 $0 $0 $12,000 Attorney $16,667 $14,444 $7,222 $21,666 $25,000 Annual Audit $0 $0 $0 $0 $3,000 Arbitrage $0 $0 $0 $0 $600 Assessment Administration $0 $0 $0 $0 $5,000 Dissemination $0 $0 $0 $0 $3,500 Trustee Fees $0 $0 $0 $0 $5,000 Management Fees $23,333 $17,500 $5,833 $23,333 $35,000 Information Technology $1,000 $750 $250 $1,000 $1,000 Website Maintenance $1,750 $0 $0 $0 $700 Telephone $200 $0 $0 $0 $200 Postage $667 $71 $20 $91 $1,000 Printing & Binding $667 $191 $80 $271 $1,000 Insurance $3,500 $3,452 $0 $3,452 $5,000 Legal Advertising $10,000 $1,757 $1,000 $2,757 $10,000 Other Current Charges $667 $1,558 $0 $1,558 $1,000 Office Supplies $417 $88 $30 $118 $600 Dues, Licenses & Subscriptions $150 $150 $0 $150 $175 Total Expenditures $75,630 $39,960 $14,435 $54,395 $122,693 Excess Revenues/(Expenditures) $0 $10,650 $1,174 $11,824 $0 *Please note that FY21 revenue and expenditures are prorated for 8 months. Elevation Pointe Community Development District BUDGET REVENUES: Developer Contributions The District will enter into a Funding Agreement with the developer to fund the general fund expenditures for the fiscal year. EXPENDITURES: Administrative: Supervisors Fees Chapter 190, Florida Statutes, entitles each Board member to receive $200 per meeting, not to exceed $4,800 per year, paid for the time devoted to District business and meetings. FICA Expense Employer’s share of Social Security and Medicare taxes withheld from the Board of Supervisors’ checks. Engineering The District contracts with Kimley-Horn to serve as District Engineer to provide general engineering services to the District, e.g., attendance and preparation for monthly board meetings, reviewing requisitions, etc. Attorney The District contracts with Hopping, Green and Sams to serve as District Counsel to provide general legal services to the District, e.g., attendance and preparation for monthly meetings, preparation and review of agreements, resolutions, etc. Annual Audit The District is required annually to conduct an audit of its financial records by an Independent CPA Firm. Arbitrage The District is required to annually have an arbitrage calculation on the District’s Special Assessment Bonds. The District will contract independent firm to calculate the rebate liability and submit a report to the District Assessment Administration The District contracts with an Assessment Administrator to administer the collection of non-ad valorem assessments on all assessable property within the District. 2 Elevation Pointe Community Development District BUDGET Dissemination 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 will utilize Governmental Management Services - CF, LLC to provide this service. Management Fees The District contracts with Governmental Management Services – CF, LLC to serve as District Manager to provide management, accounting and administrative services. Information Technology Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, security, accounting software, etc. Website Maintenance Represents the costs associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc. Telephone Telephone and fax machine. Postage Costs related to 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 General liability, public officials’ liability and property insurance coverages. 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 incurred during the year. Office Supplies Miscellaneous office supplies. 3 Elevation Pointe Community Development District BUDGET Dues, Licenses & Subscriptions The District is required to pay an annual fee to the Florida Department of Economic Opportunity for $175. This is the only expense under this category for the District. 4