Adopted Budget	
Fiscal Year 2024	

Reserve	
Community Development District #2	

July 20, 2023

Reserve	
Community Development District #2	

TABLE OF CONTENTS

General Fund	
Budget	
Budget Narrative	

Page 1	
Page 2-3	

Debt Service Fund	
Series 2010	
Budget	
Amortization Schedule	

Page 4	
Page 5	

Reserve	
Community Development District #2	

General Fund

Adopted	
Budget	
	FY 2023		

Actual	
Thru	
  6/30/2023 	

Projected	
Next	
  3 Months		

Total	
Projected	
  9/30/2023 	

Adopted	
Budget	
	FY 2024		

 Description	

Revenues

Unassigned Fund Balance	
Maintenance Assessments	

$4,968	
$70,007	

$1,970	
$70,685	

$0	
$0	

$1,970	
$70,685	

$11,923	
$67,659	

TOTAL REVENUES		$74,975 		$72,655 		$0 		$72,655 		$79,582 

Expenditures

Administrative	
Supervisor Fees	
FICA Expense	
Engineering Fees	
Attorney Fees	
Trustee Fees	
Property Appraiser	
Collection Agent	
Assessment Roll	
Annual Audit	
Management Fees	
Computer Time	
Telephone	
Postage	
Printing & Binding	
Rentals & Leases	
Insurance	
Legal Advertising	
Other Current Charges	
Office Supplies	
Dues, Licenses & Subscriptions	
Website Compliance	

$4,000	
$306	
$500	
$1,500	
$4,090	
$6,761	
$6,000	
$2,500	
$3,350	
$33,176	
$250	
$0	
$1,000	
$300	
$2,400	
$6,497	
$620	
$500	
$50	
$175	
$1,000	

$3,000	
$230	
$0	
$72	
$4,089	
$6,499	
$5,000	
$2,500	
$3,350	
$24,882	
$187	
$0	
$441	
$256	
$1,800	
$6,886	
$0	
$155	
$40	
$175	
$750	

$2,000	
$153	
$0	
$500	
$0	
$0	
$1,000	
$0	
$0	
$8,294	
$63	
$0	
$10	
$20	
$600	
$0	
$377	
$150	
$0	
$0	
$250	

$5,000	
$383	
$0	
$572	
$4,089	
$6,499	
$6,000	
$2,500	
$3,350	
$33,176	
$250	
$0	
$451	
$276	
$2,400	
$6,886	
$377	
$305	
$40	
$175	
$1,000	

$4,000	
$306	
$500	
$1,000	
$4,090	
$6,499	
$6,000	
$2,500	
$3,465	
$33,176	
$250	
$0	
$1,000	
$300	
$2,400	
$7,575	
$620	
$500	
$80	
$175	
$1,000	

TOTAL EXPENDITURES		$74,975 			$60,313 			$13,417 			$73,729 			$75,436 	
Other Financing Sources/(Uses)										
Interfund transfer In(Out) - Property Appraiser	$0		$12,997		$0		$12,997		$6,499	
Total Other Financing Sources/(Uses)		$0 			$12,997 			$0 			$12,997 			$6,499 	
UNASSIGNED FUND BALANCE		$0 			$25,339 			($13,417)			$11,923 			$10,645 	

Gross Assessment Levied	$71,977.96
	($4,318.68)
$67,659.28	
Less Discounts & Collection Fees		
Net Assessment Levied		
No. of Units	1,090.41
$62.05
$66.01	
Net Per Unit Assessment		
Gross Per Unit Assessment		

Reserve
Community Development District #2	General Fund

REVENUES:

Maintenance Assessments
The District will levy a non ad-valorem special assessment on all taxable property within the District to fund all of the General Operating Expenditures for the fiscal year.

EXPENDITURES:

Administrative:

Supervisor Fees
The Florida Statutes allows each board member to receive $200 per meeting no to exceed $4,800 in one year. The amount for the fiscal year is based upon all five supervisors attending the estimated 4 annual meetings.

FICA Expense
Represents the Employer's share of Social Security and Medicare taxes withheld from Board of Supervisors checks.

Engineering Fees
The District's engineer will be providing general engineering services to the District including attendance and preparation for board meetings, 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 and maintenance contracts, etc.
Trustee Fees
The District issued Series 2010 Special Assessment Revenue Bonds which are held with a Trustee at US Bank. The amount of the trustee fees budgeted is based on the agreement between US Bank and the District.

Property Appraiser Fee
The St. Lucie County Property Appraiser charges the District 2% of the total on roll assessment as their charge for placing the assessments on the County’s tax roll.

Collection Agent
The District’ has contracted with Robert L. Fromm & Associates for meeting attendance and budget review and preparation.

Assessment Roll
The District’ has contracted with Robert L. Fromm & Associates for the certifications of the District’s annual maintenance and debt service assessments to the County Tax Collector.

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. These services are further outlined in Exhibit "A" of the Management Agreement.

Computer Time
The District processes all its financial activities, i.e., accounts payable, financial statements, etc. on a mainframe computer leased by Governmental Management Services.

Reserve
Community Development District #2	General Fund

Administrative: (continued)

Telephone
Telephone and fax machine.

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.

Room Rental and Leases-Reserve #1 CDD
The District is charged $200 per month from Reserve CDD for the office space and meeting room at Reserve Commerce Center.

Insurance
The District's General Liability & Public Officials Liability Insurance policy is with Florida Insurance Alliance (FIA). The Florida Insurance Alliance specializes in providing insurance coverage to governmental agencies.

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 are incurred during the year.

Contingency
Any unforeseen expenditures or repairs. If the expense is not incurred, the balance is added to the unassigned fund balance.

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.

Website Compliance
Per Section 189.069 F.S, 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 as required by the Statute.

Exhibit A page 4 of 5

Reserve	
Community Development District #2	

Debt Service Fund	
Series 2010A, Capital Improvement Refunding Bonds	

Adopted	
Budget	
	FY 2023		

Actual	
Thru	
  6/30/2023 	

Projected	
Next	
  3 Months		

Total	
Projected	
  9/30/2023 	

Adopted	
Budget	
	FY 2024		

 Description	

Revenues	
Carry Forward Surplus (1)	
Special Assessments - On Roll	
Interest Income	

$23,251	$24,276	
$235,439	$237,465	
$0	$4,324	

$0	
$0	
$400	

$24,276	
$237,465	
$4,724	

$26,530	
$227,537	
$0	

TOTAL REVENUES		$254,066 

	$258,691 			$266,064 	

	$400 			$266,464 	

Expenditures

Series 2010A	
Interest - 11/01	
Interest - 05/01	
Principal - 05/01	

$8,538	
$8,399	
$210,000	

$8,538	
$8,399	
$210,000	

($0)	$8,538	
$0	$8,399	
$0	$210,000	

$5,758	
$5,696	
$215,000	

TOTAL EXPENDITURES		$226,938 		$226,938 		$0 		$226,938 		$226,454 

Other Financing Sources/(Uses)

$0	($12,997)	

$0		($12,997)						($6,499)	
$0		($12,997)		$0		($12,997)		($6,499)	

Interfund Transfer In (Out)

TOTAL OTHER FINANCING SOURCES/(USES)

Excess Revenue over Expenditures		$31,753 		$26,130 		$400 		$26,530 		$21,113 

(1) Carry forward surplus is net of the reserve requirement
11/1/24 Interest 		$2,912 	
	    $2,912 	

Gross Assessment Levied	$242,060.12
  ($14,523.61)
$227,536.51	
Less Discounts & Collection Fees		
Net Assessment Levied		
No. of Units	1,090.41
$208.67
$221.99	
Net Per Unit Assessment		
Gross Per Unit Assessment		

Reserve	
Community Development District #2	

 	
Amortization Schedule	
Series 2010A, Capital Improvement Refunding Bonds	

	DATE			BALANCE		 RATE 		PRINCIPAL			INTEREST			TOTAL	

11/01/23	$435,000.00	2.59%	$0.00	$5,758.43	
05/01/24	$435,000.00	2.59%	$215,000.00	$5,695.84	$226,454.28	
11/01/24	$220,000.00	2.59%	$0.00	$2,912.31	
05/01/25	$220,000.00	2.59%	$220,000.00	$2,864.83	$225,777.14	
Total	$645,000.00	$34,168.93	$679,168.93