Tesoro

Community Development District

Amended Budget
FY 2025

Presented by:

Table of Contents

1

2-4

5

General Fund

Narratives

Capital Reserve Fund

6	Assessment Schedule

Tesoro	
Community Development District	
Amended Budget	
General Fund	

Adopted
Budget	Actuals Thru	Projected Next	Projected Thru	Amended
Budget	
Description	FY2024	5/31/24	4 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments - On Roll	$	543,364	$	534,974	$	9,012	$	543,986	$	545,840	
Stormwater Fees	230,000	261,867	-	261,867	272,995	
Interest Income	550	4,084	1,000	5,084	18,677	
Carry Forward Surplus	-	-	-	-	27,964	

TOTAL REVENUES	$	773,914	$	800,925	$	10,012	$	810,937	$	865,476	

EXPENDITURES:

Administrative						
Supervisor Fees	$	5,000	$	-	$	400	$	400	$	-	
FICA Taxes	383	-	31	31	-	
Engineering	7,000	12,594	8,996	21,590	25,041	
Attorney	15,000	4,206	10,794	15,000	89,146	
Annual Audit	2,950	2,950	-	2,950	3,000	
Assessment Administration	2,500	2,500	-	2,500	2,650	
Management Fees	36,486	24,324	12,162	36,486	38,675	
Information Technology	1,058	705	353	1,058	1,121	
Website Maintenance	947	1,006	395	1,401	1,003	
Telephone	100	-	50	50	-	
Postage & Delivery	500	176	100	276	68	
Insurance General Liability	7,960	7,821	-	7,821	8,355	
Printing & Binding	800	-	200	200	193	
Legal Advertising	1,600	-	750	750	1,158	
Other Current Charges	2,000	-	750	750	89	
Office Supplies	100	1	50	51	10	
Dues, Licenses & Subscriptions	175	175	-	175	175	

TOTAL ADMINISTRATIVE	$	84,558	$	56,458	$	35,030	$	91,488	$	170,685	

Operations & Maintenance
Field Operation

Field Mangagement Fees	$	17,713	$	11,809	$	5,904	$	17,713	18,775	
Trim - Phase 1-4	116,250	77,500	38,756	116,256	116,250	
Property Insurance	348	-	348	348	-	

West Side						
Mitigation Maintenance	112,200	74,800	37,400	112,200	113,000	
Landscaping	102,221	68,147	34,069	102,216	105,276	
Electric	6,500	4,643	3,648	8,291	6,489	
Plant Replacement	5,000	-	5,000	5,000	-	
Fountain Repairs	5,000	-	5,000	5,000	-	
Contingency	2,500	-	2,500	2,500	878	

East Side						
Mitigation Maintenance	84,000	56,000	28,000	84,000	84,000	
Plant Replacement	5,000	-	5,000	5,000	-	
Contingency	2,500	-	2,500	2,500	-	

TOTAL FIELD OPERATION	$	459,231	$	292,899	$	168,125	$	461,024	$	444,667	

TOTAL EXPENDITURES	$	543,790	$	349,357	$	203,155	$	552,511	$	615,352	

Other Sources/(Uses)						
Interlocal Transfer In/(Out)	$	(230,124)	$	(150,000)	$	(80,124)	$	(230,124)	$	(250,124)	
TOTAL OTHER SOURCES/(USES)	$  (230,124)	$  (150,000)	$	(80,124)	$  (230,124)	$  (250,124)	

EXCESS REVENUES (EXPENDITURES)	$	-	$	301,568	$  (273,267)	$	28,302	$	-	

Tesoro	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

REVENUES	

Special Assessments-Tax Roll	
The District will levy a Non-Ad Valorem assessment on all sold and platted parcels within the District in order to pay for the operating expenditures during the Fiscal Year.	
Stormwater Fees	
The District has entered into an agreement with the City of St. Lucie requiring the City to refund to the District 75% of all stormwater fees collected within the District’s boundaries.	
Interest	
The District earns interest on the monthly average collected balance for each of their investment accounts.	

Expenditures - Administrative	

Supervisors Fees	
Chapter 190 of the Florida Statutes allows for members of the Board of Supervisors to be compensated $200 per meeting in which they attend.	
FICA Taxes	
Payroll taxes on Board of Supervisor’s compensation. The budgeted amount for the fiscal year is calculated at 7.65% of the total Board of Supervisor’s payroll expenditures.	
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	
The District has contracted with Governmental Management Services-CF, LLC to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.	
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 has contracted with Governmental Management Services - Central Florida, LLC to provide management, accounting and recording secretary services. These services include but are not limited to, advertising, recording and transcribing of Board meetings, administrative services, budget preparation, financial reporting, and assisting with annual audits.	
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, positive pay implementation and programming for fraud protection, accounting software,	
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.	
Communication - Telephone	
New internet and Wi-Fi service for Office.	
Postage and Delivery	
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.	
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.	

Tesoro	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

Expenditures - Administrative (continued)	
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.	

Expenditures – Field Operations	

Field Management Fees	
The District has contracted with Governmental Management Services – Central Florida, LLC to provide onsite field management of	
Trim – Phase 1-4	
Services are to include annual trim around all edges in phases 1-4.	
Property Insurance	
Property Insurance	

West Side			
Mitigation Maintenance			
Includes the cutting and removal of exotic and nuisance vegetation from all wetland preserves and their associated buffers within the limits of the US Army Corps of Engineers permit and the SFWMD permit previously issued for the parcel west of Via Tesoro Boulevard within the limits of the Tesoro West project area. Due to the native vegetation on the site and in accordance with the conditions of the Agency permits, hand cutting of vegetation will occur where possible and application of an appropriate herbicide to the cut stumps to inhibit further growth. The District has contracted with Native Lands Management, Inc. for this service.	
Description	Monthly amount	Annually	
Mitigation Maintenance	$9,350	$112,200	
Landscaping			
Scheduled maintenance consists of trimming vegetation, weed control, edging, blowing, application of herbicides (as permitted), and the removal of debris and trash within the service area. The District has contracted with Wellington Pro Lawn Care for this
service.	
Description	Monthly amount	Annually	
Landscape Maintenance	$8,518	$102,221	
Electric			
To record cost of electric services to an irrigation pump. The District has the following utility account with Florida Power & Light.	
Plant Replacement			
Unscheduled maintenance consists of tree, shrub, and other plant material replacements in various communities.	
Fountain Repairs			
Includes expenses for equipment, supplies, and maintenance for the fountains at the District.	
Contingency			
The contingency represents expenses not anticipated in budget categories.	

Tesoro	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

Expenditures – Field Operations (continued)	

East Side			
Mitigation Monitoring			
The District will schedule monitoring of mitigation areas.			
Mitigation Maintenance			
Includes the cutting and removal of exotic and nuisance vegetation from all wetland preserves and their associated buffers within
the limits of the US Army corps of Engineers permit and the SFWMD permit previously issued for the parcel east of Via Tesoro	
Description	Monthly amount	Annually	
Mitigation Maintenance	$7,000	$84,000	
Plant Replacement			
Unscheduled maintenance consists of tree, shrub, and other plant material replacements.	
Contingency			
The contingency represents expenses not anticipated in budget categories.	

Tesoro	
Community Development District	
Adopted Budget	
Capital Reserve Fund	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Amended Budget	
Description	FY2024	5/31/24	4 Months	9/30/24	FY 2025	

REVENUES:

Interest Income	$	-	$	405	$	-	$	405	$	-	
Carry Forward Balance	122,307	29,491	-	29,491	74,984	

TOTAL REVENUES	$	122,307	$	29,896	$	-	$	29,896	$	74,984	

EXPENDITURES:

Plant Installation	$	34,000	$	-	$	34,000	$	34,000	$	34,000	
Natural Area Cleanup	286,050	104,986	46,000	150,986	260,900	
Miscellaneous Expenses	500	1	50	51	500	
TOTAL EXPENDITURES	$	320,550	$	104,987	$	80,050	$	185,037	$	295,400	

Other Sources/(Uses)						
Transfer in/(Out)	$	230,124	$	150,000	$	80,124	$	230,124	$	250,124	
TOTAL OTHER SOURCES/(USES)	$	230,124	$	150,000	$	80,124	$	230,124	$	250,124	
						
EXCESS REVENUES (EXPENDITURES)	$	31,881	$	74,909	$	74	$	74,984	$	29,708	

Tesoro	
Community Development District	
Non-Ad Valorem Assessments Comparison	
2024-2025	

Neighborhood	
O&M Units	
ERU	
Annual Maintenance Assessments	
Total Assessed Per Unit	
	
FY 2025	
FY2024	Increase/ (decrease)	
FY 2025	
FY2024	Increase/ (decrease)	
						Series	Series	Total	

Developed	
220.00	
220	
$310.00	
$310.00	
$0.00	
$310.00	
$310.00	
$0.00	
Tracts	1,139.92	1139.92	$310.00	$310.00	$0.00	$310.00	$310.00	$0.00	
Undeveloped	687.00	515.25	$232.50	$232.50	$0.00	$232.50	$232.50	$0.00	
Total	2046.92	1875.17