Adopted Budget
Fiscal Year 2022

Verano #5 Community Development District

August 19, 2021

Verano #5
Community Development District

TABLE OF CONTENTS

General Fund Budget
Budget Narrative

Page 1-6
Page 7-8

Verano #5
Community Development District

General Fund

Adopted Budget
 Description	FY 2021 

Actual Thru
   7/31/2021 

Projected Next
   2 Months 

Total Projected
   9/30/2021 

Adopted Budget
     FY 2022	

Revenues (1)
Maintenance Assessm - V#1 S2015 Maintenance Assessm - V#1 S2017 Maintenance Assessm - V#2 Pod A S2017 Maintenance Assessm - V#2 Pod B S2017 Maintenance Assessm - V#2 Pod C S2017 Maintenance Assessm - V#2 Pod C S2020 Maintenance Assessm - V#2 Pod D S2020

On Roll On Roll On Roll On Roll On Roll On Roll On Roll

$43,638
$81,100
$26,602
$11,715
$230,714
$8,774
$0

$43,835
$81,365
$26,694
$11,753
$231,454
$8,801
$0

$0
$0
$0
$0
$0
$0
$0

$43,835
$81,365
$26,694
$11,753
$231,454
$8,801
$0

$53,675
$83,961
$36,896
$21,497
$207,188
$98,356
$387

Maintenance Assessm - V#1 S2015 Maintenance Assessm - V#1 S2017 Maintenance Assessm - V#2 Pod A S2017 Maintenance Assessm - V#2 Pod B S2017 Maintenance Assessm - V#2 Pod C S2017 Maintenance Assessm - V#2 Pod C S2020 Maintenance Assessm - V#2 Pod D S2020 Maintenance Assessm - V#2 Pod E S2020 Maintenance Assessm - V#3 Pod G-1 S2021 Developer Funding - V#3 Pod G-1 S2021 Maintenance Assessm - V#4
Maintenance Assessm - Center
Developer Contribution shortfall Stormwater Rebate Fees
Carry Forward

Direct Bill Direct Bill Direct Bill Direct Bill Direct Bill Direct Bill Direct Bill Direct Bill Direct Bill Direct Bill Direct Bill Direct Bill Direct Bill

$18,485
$5,810
$12,941
$24,679
$2,170
$228,045
$32,889
$28,584
$4,025
$0
$4,025
$7,625
$0
$168,210
$0

$22,384
$5,065
$12,941
$24,679
$3,205
$0
$32,889
$0
$4,025
$0
$4,025
$7,625
$0
$186,430
$52,237

$3,900
$0
$0
$4,339
$0
$0
$0
$0
$0
$0
$0
$0
$148,756
$0
$0

$26,284
$5,065
$12,941
$29,018
$3,205
$0
$32,889
$0
$4,025
$0
$4,025
$7,625
$148,756
$186,430
$52,237

$8,447
$2,949
$5,517
$14,469
$0
$112,366
$35,110
$28,584
$159,035
$117,382
$4,225
$8,225
$140,538
$204,158
$0

TOTAL REVENUES

    $940,030 

    $759,408 

    $156,994 

    $916,403 

   $1,342,966 

Expenditures

Administrative Engineering Fees Attorney Fees Annual Audit Management Fees Telephone Postage
Printing & Binding Insurance
Legal Advertising Other Current Charges Office Supplies
Dues, Licenses & Subscriptions Contingency
Website Compliance

$5,000
$10,000
$3,700
$30,000
$50
$900
$2,000
$10,725
$1,300
$650
$300
$175
$300
$750

$2,640
$39,073
$3,000
$25,000
$0
$1,442
$1,609
$10,238
$1,103
$137
$99
$175
$6,000
$625

$2,360
$9,000
$0
$5,000
$0
$288
$322
$0
$500
$100
$20
$0
$0
$125

$5,000
$48,073
$3,000
$30,000
$0
$1,731
$1,931
$10,238
$1,603
$237
$119
$175
$6,000
$750

$5,000
$20,000
$3,100
$30,000
$50
$900
$2,000
$11,262
$1,300
$650
$300
$175
$300
$750

TOTAL ADMINISTRATIVE

$65,850

$91,142

$17,715

$108,857

$75,787

Field Maintenance: Field Management Lake Maintenance
Landscape Maintenance Water Sampling-BMAP Contingency

$0
$240,000
$24,000
$5,000
$83,702

$7,200
$130,365
$175,504
$4,948
$0

$2,400
$100,780
$64,608
$0
$0

$9,600
$231,145
$240,112
$4,948
$0

$24,000
$223,670
$247,808
$5,000
$10,000

TOTAL MAINTENANCE

    $352,702 

    $318,017 

    $167,788 

    $485,805 

 	$510,478 

TOTAL EXPENDITURES

    $418,552 

    $409,159 

    $185,503 

    $594,662 

 	$586,265 

Page 1

Verano #5
Community Development District

General Fund

Adopted Budget
 Description	FY 2021 

Actual Thru
   7/31/2021 

Projected Next
   2 Months 

Total Projected
   9/30/2021 

Adopted Budget
     FY 2022	

Other Financing Sources and (Uses)

Intergovernmental Transfer (2)

($520,478)

($321,641)

($100)

($321,741)

($756,701)

Total Other Financing Sources and (Uses)

   ($520,478)

   ($321,641)

 	($100)

   ($321,741)

     ($756,701)

NET CHANGE IN FUND BALANCE

 	$1,000 

$28,608

($28,609)

($0)

($0)

(1) All revenues are net amounts
(2) Transfers to all Veranos

Page 2

Verano #5
Community Development District

General Fund

Adopted Budget
 Description	FY 2021 

Actual Thru
   7/31/2021 

Projected Next
   2 Months 

Total Projected
   9/30/2021 

Adopted Budget
     FY 2022	

Assessments Table

Verano #1 Series 2015

Verano #1 Series 2015

Verano #1 Series 2017

Verano #1 Series 2017

Page 3

Direct Billed	Amount
Description	Units	per unit*

Total Direct Billed

Clubhouse

32,565	 		 $0.0984	
Gross Assessments Less: Discount & Collections 8%
Net Assessments

$3,205.12

Total Residential

$3,205.12 ($256.41)

$2,948.71

On Roll	Tax Roll	Total
Description	Units	per unit	On Roll

40's
50's
60's
Manor/Duplex

Commercial

45	$136.70
260	$157.21
116	$181.81
136	$121.66
557

60,000	$0.11
Gross Assessments Less: Discount & Collections 8%
Net Assessments

$6,151.50
$40,874.60
$21,089.96
$16,545.76

$6,600.00

Total Residential

$91,261.82 ($7,300.95)

$83,960.87

Direct Billed	Amount
Description	Units	per unit*

Total Direct Billed

40's
50's
60's
Manor/Duplex

20	$136.70
0	$157.21
0	$181.81
53	$121.66
73		Gross Assessments Less: Discount & Collections 8%
Net Assessments

$2,734.00
$0.00
$0.00
$6,447.98

Total Residential

$9,181.98 ($734.56)

$8,447.42

On Roll	Tax Roll	Total
Description	Units	per unit	On Roll

40's
50's
60's
Manor/Duplex

145	$136.70
82	$157.21
60	$181.81
 	121		$121.66
408
Gross Assessm. Less: Discount & Collections 8%
Net Assessments

$19,821.50
$12,891.22
$10,908.60
$14,720.86

Total Residential

$58,342.18 ($4,667.37)

$53,674.81

Verano #5
Community Development District

General Fund

Adopted Budget
 Description	FY 2021 

Actual Thru
   7/31/2021 

Projected Next
   2 Months 

Total Projected
   9/30/2021 

Adopted Budget
     FY 2022	

Verano #2 Pod B Series 2017

Verano #2 Pod B Series 2017

Verano #2 Pod C Series 2017

Page 4

On Roll	Per Unit	Tax Roll	Total
Description	Units	Pod C	per unit*	On Roll

40's
50's

118	$911.45	$136.70
 	95		 $911.45		 $157.21	
213		Gross Assessments Less: Discount & Collections 8%
Net Assessments

$123,681.70
$101,522.70

Total Residential

$225,204.40 ($18,016.35)

$207,188.05

Direct Billed	Amount
Description	Units	per unit*

Total Direct Billed

Duplex/Manor 40's
50's
60's

0	$121.66
23	$136.70
28	$157.21
 	45		 $181.81	
96		Gross Assessments Less: Discount & Collections 8%
Net Assessments

$0.00
$3,144.10
$4,401.88
$8,181.45

Total Residential

$15,727.43 ($1,258.19)

$14,469.24

On Roll	Tax Roll	Total
Description	Units	per unit*	On Roll

Duplex/Manor	0	$121.66
40's	22	$136.70
50's	111	$157.21
60's	 	16		 $181.81	
Total Residential	149	Gross Assessments
Less: Discount & Collections 8%
Net Assessments

$0.00
$3,007.40
$17,450.31
$2,908.96

$23,366.67 ($1,869.33)

$21,497.34

Plat 5 and 7	Verano #2 Pod A - Series 2017

Direct Billed	Amount
Description	Units	per unit*

Total Direct Billed

Duplex/Manor 40's
50's
60's
70's
80's

4	$121.66
5	$136.70
8	$157.21
12	$181.81
6	$196.17
 	1		 $210.52	
36		Gross Assessments Less: Discount & Collections 8%
Net Assessments

$486.64
$683.50
$1,257.68
$2,181.72
$1,177.02
$210.52

Total Residential

$5,997.08 ($479.77)

$5,517.31

Verano #2 Pod A - Series 2017

On Roll	Tax Roll	Total
Description	Units	per unit*	On Roll

40's
50's
60's

21	$136.70
105	$157.21
 	114		 $181.81	
240		Gross Assessments Less: Discount & Collections 8%
Net Assessments

$2,870.70
$16,507.05
$20,726.34

Total Residential

$40,104.09 ($3,208.33)

$36,895.76

Verano #5
Community Development District

General Fund

Adopted Budget
 Description	FY 2021 

Actual Thru
   7/31/2021 

Projected Next
   2 Months 

Total Projected
   9/30/2021 

Adopted Budget
     FY 2022	

Verano #2 Pod C Series 2020

Verano #2 Pod C Series 2020

Verano #2 Pod D Series 2020

Verano #2 Pod D Series 2020

Verano #2 Pod E Series 2020

Page 5

Direct Billed	Amount
Description	Units	per unit*

Total Direct Billed

40's
50's
60's
Manor/Duplex

35	$136.70
80	$157.21
58	$181.81
 	26		 $121.66	
199		Gross Assessments Less: Discount & Collections 8%
Net Assessments

$4,784.50
$12,576.80
$10,544.98
$3,163.16

Total Residential

$31,069.44 ($2,485.56)

$28,583.88

Direct Billed	Amount
Description	Units	per unit*

Total Direct Billed

40's
50's
60's
70's
80's

41	$136.70
93	$157.21
52	$181.81
25	$196.17
 	17		 $210.54	
228		Gross Assessments Less: Discount & Collections 8%
Net Assessments

$5,604.70
$14,620.53
$9,454.12
$4,904.25
$3,579.18

Total Residential

$38,162.78 ($3,053.02)

$35,109.76

On Roll	Tax Roll	Total
Description	Units	per unit*	On Roll

40's
50's
60's
70's
80's

0	$136.70
0	$157.21
0	$181.81
0	$196.17
 	2		 $210.52	
2	Gross Assessments
Less: Discount & Collections 8%
Net Assessments

$0.00
$0.00
$0.00
$0.00
$421.04

Total Residential

$421.04 ($33.68)

$387.36

Direct Billed	Per Unit	Amount
Description	Units	Pod C	per unit*

Total Direct Billed

40's
50's

37	$911.45	$136.70
 	78		 $911.45		 $157.21	
115		Gross Assessments Less: Discount & Collections 8%
Net Assessments

$38,781.55
$83,355.48

Total Residential

$122,137.03 ($9,770.96)

$112,366.07

On Roll	Per Unit	Tax Roll	Total
Description	Units	Pod C	per unit*	On Roll

40's
50's

50	$911.45	$136.70
 	51		 $911.45		 $157.21	
101		Gross Assessments Less: Discount & Collections 8%
Net Assessments

$52,407.50
$54,501.66

Total Residential

$106,909.16 ($8,552.73)

$98,356.43

Verano #5
Community Development District

General Fund

Adopted Budget
 Description	FY 2021 

Actual Thru
   7/31/2021 

Projected Next
   2 Months 

Total Projected
   9/30/2021 

Adopted Budget
     FY 2022	

Verano #3 Pod G Plat 1 Series 2020

Direct Billed Units

Per Unit Pod G

Amount per unit*

Total Direct Billed

Description

40's
50's
60's
Manor/Duplex Total Residential

145
204
40
 	46	
435

$228.19
$262.42
$303.49
 	$203.09

$136.70
$157.21
$181.81
     $121.66	

$52,909.05
$85,604.52
$19,412.00
$14,938.50
$172,864.07

Gross Assessments

Less: Discount & Collections 8%
Net Assessments

($13,829.13)

$159,034.94

* amounts for CDD Master

Page 6

Verano # 5
Community Development District

REVENUES:

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

Developer Assessments - Direct
The District will enter into a Funding Agreement with the Developer to Fund all General Fund expenditures for the Fiscal Year that aren’t associated with the units on the tax roll.

Stormwater Rebate Fees
The City of Port St. Lucie assesses the residents of the District for Repairs, Maintenance and Capital Improvements of the Drainage System. The city then remits the storm water fees less an administrative fee to the District since the District provides all these services.

EXPENDITURES:

Administrative:

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, resolutions etc.

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, LLC.

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

Telephone
Telephone and fax machine.

Postage
Mailing of agenda packages, overnight deliveries, correspondence, etc.

Insurance
The District will bind General Liability & Public Officials Liability Insurance with Florida Insurance Alliance, an agency that specializes in providing insurance coverage to governmental agencies.

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 7

Verano # 5
Community Development District

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.

Capital Outlay
Represents any minor capital expenditures the District may need to make during the Fiscal Year such as a file cabinet for District files.

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.

Field Maintenance:

Lake Maintenance:
Cost to mow the lake banks throughout the district.

Landscape Maintenance
Mowing of the common area throughout the District

General Maintenance
Unexpected or irregular maintenance repairs that may come up during the Fiscal Year.

Water Sampling-BMAP
St. Lucie & Estuary Basin Management Action Plan-Per recommendation of the District’s engineer, quarterly water samples will be taken in 3 locations to monitor water quality.

Other Financing Sources and (Uses)

Intergovernmental Transfer
The District will levy a non-ad valorem maintenance assessment on the developable property within the District to fund the operating budget. The District will transfer fund to Verano Center and Verano# 1 - 4 CDD for General Operating Expenditures.

Page 8