Sebastian River Improvement District

Proposed Budget For Fiscal Year 2019/2020
October 1, 2019 - September 30, 2020

CONTENTS

I	PROPOSED BUDGET

PROPOSED BUDGET
SEBASTIAN RIVER IMPROVEMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2017/2018
ACTUAL	
FISCAL YEAR 2018/2019
BUDGET	
FISCAL YEAR 2019/2020
BUDGET	

COMMENTS	
NAV ASSESSMENTS	171,921	175,755	185,851	10,046 Acres @ $18.50	
R-O-W USE FEES	14,765	14,765	14,765		
PERMIT FEES	2,500	5,000	5,000		
OTHER REVENUES	4,050	0	0		
INTEREST INCOME	4,221	840	960	Interest Projected At $80 Per Month	
					
TOTAL REVENUES	$	197,457	$	196,360	$	206,576		
					
EXPENDITURES					
LEGAL	5,826	7,500	7,500	No Change From 2018/2019 Budget	
LEGAL - SPECIAL COUNSEL	2,564	0	10,000	Legal - Special Counsel	
DISTRICT ADMINISTRATIVE	27,000	27,000	27,000	$2,250 Per Month	
OPERATIONS MANAGER	18,000	18,000	18,000	No Change From 2018/2019 Budget	
OPERATIONS MANAGER - PAYROLL TAXES	1,377	1,377	1,377	Operations Manager *7.65%	
ENGINEERING /GENERAL	73,900	25,000	25,000	No Change From 2018/2019 Budget	
ENGINEERING /PERMIT	0	5,000	5,000	No Change From 2018/2019 Budget	
ENGINEERING /SPECIAL PROJECTS	0	5,000	5,000	No Change From 2018/2019 Budget	
ACCOUNTING / AUDIT	6,250	6,750	7,000	$250 Increase From 2018/2019 Budget	
INSURANCE	6,630	7,293	7,000	Insurance Estimate	
WEBSITE MANAGEMENT	1,500	1,500	2,000	$500 Increase From 2018/2019 Budget	
DUES & SUBSCRIPTIONS	925	925	925	$175 For Dept Of Economic Opportunity - $750 For FL Assoc Special Districts	
LEGAL ADVERISEMENTS	974	950	950	No Change From 2018/2019 Budget	
MISCELLANEOUS	2,077	1,900	2,200	Includes Travel, Postage & Office Supplies	
WATER QUALITY ANALYTICAL SERVICE	1,215	1,000	1,000	Quarterly Service	
R-O-W MAINTENANCE	0	50,000	50,000	No Change From 2018/2019 Budget	
C/L VEGETATION MANAGEMENT	0	50,000	50,000	No Change From 2018/2019 Budget	
MISCELLANEOUS MAINTENANCE	157,769	10,000	10,000	No Change From 2018/2019 Budget	
					
TOTAL EXPENDITURES	$	306,007	$	219,195	$	229,952		
					
REVENUES LESS EXPENDITURES	$	(108,550)	$	(22,835)	$	(23,376)		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(1,504)	(3,515)	(3,716)	Two Percent Of Total Assessment Roll	
DISCOUNTS FOR EARLY PAYMENTS	(5,987)	(7,030)	(7,433)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	(116,041)	$	(33,380)	$	(34,525)		
					
PREVIOUS YEAR CARRYOVER	-	33,380	34,525	Comes from Current Fund Balance	
					
NET EXCESS/ (SHORTFALL)	$	(116,041)	$	-	$	-		

Notes

Assessable Acres = 10,046

FY 2017 Assessment per Acre = $14.50
FY 2017 Budgeted Carryover Funding Assessment per Acre = $5.26

FY 2018 Assessment per Acre = $16.50
FY 2018 Budgeted Carryover Funding Assessment per Acre = $3.39

FY 2019 Assessment per Acre = $17.50
FY 2019 Budgeted Carryover Funding Assessment per Acre = $3.32

FY 2020 Assessment per Acre = $18.50
FY 2020 Budgeted Carryover Funding Assessment per Acre = $3.66

FUND BALANCE AS OF 9/30/17	$ 232,229.25	
FY 2017/2018 BUDGET ACTIVITY	$ (116,041.00)	
FUND BALANCE AS OF 9/30/18	$ 116,188.25	

I