RESOLUTION 18-06

A RESOLUTION APPROVING THE DISTRICT'S PROPOSED BUDGET OF THE VILLAGE COMMUNITY DEVELOPMENT DISTRICT NO. 10 FOR FISCAL YEAR 2018-19 IN ACCORDANCE WITH CHAPTER 190 F.S. AND SETTING A PUBLIC HEARING THEREON PURSUANT TO FLORIDA LAW

WHEREAS, the District Manager has heretofore prepared and submitted to the Board, the

District's proposed operating budget and debt service budget for the forthcoming Fiscal Year 2018-19; and

WHEREAS, the Board of Supervisors has discussed and reviewed the budget during a public

budget workshop held on May 7, 2018; and

WHEREAS, the Board of Supervisors has accepted said Proposed Budget and desires to set the

required public hearing hereon;

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF SUPERVISORS OF THE VILLAGE COMMUNITY DEVELOPMENT DISTRICT NO. 10;

1. The operating budget proposed by the District Manager for Fiscal Year 2018-19 is hereby

approved for the amount listed below along with the proposed maintenance assessment rates based on the

attached schedules:

General Fund $ 3,419,534

2. The budgets for the Debt Service Funds proposed by the District Manager for Fiscal Year

2018-19 are hereby approved for the amounts as listed below:

2012 - Debt Service

2014 - Debt Service

$ 6,701,055

$ 6,900,267

3. A public hearing on said approved Budget is hereby declared and set for the following date,

hour and place:

Date:

Time:

Place:

September 10, 2018

3:00 p.m.

District Conference Room Lake Sumter Landing 984 Old Mill Run The Villages, Florida 32162

Adopted this 14th day of June, 2018.

2

VILLAGE COMMUNITY DEVELOPMENT DISTRICT NO. 10

18-19 Object C d o es

325200 325211 337400 337401 338000 338095 341900 341908 341999 361100 361101 361102 361105 361300 361304 361306 361307 499995 669900 669901 499998

500110 51 11 11 511 211 51 1212 51 1241 500310 513311 513312 514313 513314 519316 513318 519319 500320 513322 500340 513343 513344 513349 500410 513412

VILLAGE COMMUNITY DEVELOPMENT DISTRICT District 10

- - - -10 001 00 00 000 SOURCES Special Assessments-Serv. Charg

Maintenance Assessment Transportation Sumter Co Road Agreement

Shared Revenues From Other Loe Refund - General Fund - VCCD

Other General Government Chg & Electric Reimbursement Misc Revenue

Interest Int Income - CFB Int Income - Cash Equiv Interest Income-Tax Collecto

Net lnc(Dec) Fair Value Invest FMlvT-Unrealized Gain/Loss FLGIT-Unrealized Gain/Loss L TP Unrealized Gain/Loss

TOTAL REVENUE Budget Funding Sources (Add)!Use-Workinq Capital

TOTAL SOURCES

DISBURSEMENTS Personnel Services

Executive Salaries Social Security Taxes Medicare Taxes Worker's Comoensation

Professional Services Manaqement Fees Enqineerinq Services Leaal Services Tax Collector Fees Deed Compliance Services Technoloqy Services Other Professional Services

Accounting & Auditing Auditing Services

Other Contractual Services Systems Manaqement Support Payroll Services Misc Contractual Services

Comm.& Freiaht Service Postage

FY 2018-19 Budget

2016-17 At I c ua

3,269,806 3,269,806

8,700 8,700

177 128 49

27,153 1,050

24,812 1,291

41,506 2,511 4,005

34,990 3,347,342

3,347,342

7,767 7,200

446 104

17 328,813 176,1 19

3,279 7,811

65,396 66,027

6,933 3,248 9,000 9,000 2,200 1,827

162 211

2017-18 Original B d t u Iae

3,264,950 3,264,950

6,409 6,409

12,175 175

11 ,500 500

3,283,534 (30,282) (30,282'

3,253,252

19,425 18,000

1,115 260

50 339,463 143,596

2,600 5,000

68,020 112,238

5,150 2,859 9,500 9,500

387 225 162

200 200

2017-18 Amended

B d t u iae

3,264,950 3,264,950

6,409 6,409

12,175 175

11,500 500

3,283,534 (20,919) (20,919)

3,262,615

19,425 18,000

1,115 260

50 339,463 143,596

2,600 5,000

68,020 112,238

5,150 2,859 9,500 9,500

387 225 162

200 200

2017-18 ?-Month At I c ua

3,248,537 3,248,537

2,867 2,867

421 71

350 31,214

1,752 27,011

2,451 10,152

(849' (1,409' 12,410

3,293,191

3,293,191

5,399 5,000

310 73 16

223,636 83,766

1,775 3,070

64,971 65,473

3,005 1,576 6,750 6,750

256 94

162

2018-19 Proposed

B d t u 1ge

3,264,950 3,264,950

5,734 5,734

33,000 2,800

25,000 5,200

3,303,684 115,850 115,850

3,419,534

19,425 18,000

1,115 260

50 346,036 157,956

2,600 5,000

68,020 103,610

5,408 3,442 9,500 9,500

567 405 162

200 200

5/22/2018 5:20 PM 3

18-19 Object Cd o es

500430 541431 539434 500440 539442 572450 513451 500460 539461 539462 539463 539464 539468 539469 500470 513471 500490 513493 513497 539498 500520 539522 500600 539633 500900 581911 599999

VILLAGE COMMUNITY DEVELOPMENT DISTRICT District 10

- - - -10 001 00 00 000 Utilities Services

Electricity lrriqation Water

Rentals & Leases Equipment Rental

Insurance Casualty & Liabil ity lnsuran

Repairs & Maintenance Services Equipment Maintenance Buildinq/Structure Maintenan Landscape Maint.- Recurrinq Landscape Maint.-Non-Recurri lrriqation Repair Other Maintenance

Printing & Binding Printinq & Bindinq

Other Current Chg & Obligation Permits & Licenses Leoal Advertisinq Project W ide Fees

Operating Suvolies Operatinq Supplies

Capital Outlay Infrastructure

Other Uses Trans to Gen R&R

TOTAL DISBURSEMENTS

FY 2018-19 Budget

2016-17 At I c ua 231,979 187,543 44,436

5,715 5,715

392,193

136,793 224,242

6,213 4,513

20,432 128 128

1,854,570 175

1,587 1,852,808

263 263

85,865 85,865

700,000 700,000

3,618,493

2017-18 Original B d t u u:ie

261,836 207,971

53,865 500 500

6,200 6,200

296,770 500

12,184 234,454

15,060 6,000

28,572 500 500

1,917,971 250

3,500 1,914,221

500 500

400,000 400,000

3,253,252

2017-18 Amended

B d t U IQe 261,836 207,971

53,865 500 500

6,200 6,200

306,133 500

12,184 234,454

24,423 6,000

28,572 500 500

1,917,971 250

3,500 1,914,221

500 500

400,000 400,000

3,262,615

2017-18 7-Month At I c ua 137,107 113,052 24,055

6,110 6,110

168,577

6,345 115,606

27,357 3,531

15,738

1,117,176 175 370

1,116,631

233,335 233,335

1,898,346

2018-19 Proposed

B d t u 1ge 262,534 207,529

55,005 500 500

6,820 6,820

277,849 500

12,184 214,493

15,000 8,000

27,672 500 500

2,195,103 250

3,500 2,191 ,353

500 500

300,000 300,000

3,419,534

5/22/2018 5:20 PM 4

VILLAGE COMMUNITY DEVELOPMENT DISTRICT NO.10 ANNUAL MAINTENANCE ASSESSMENT

2016/2017 2017/2018 2018/2019

Maintenance Assessments Billed $ 3,400,990 $ 3,400,990 $ 3,400,990

Villaae Name Unit Acres Lot 0-1.7% Deer 0% 0% Phase#1

188 30.94 70 $ 1,009.53 $ 1,009.53 $ 1,009.53 202 50.21 229 500.79 500.79 500.79 203 31.57 159 453.50 453.50 453.50

Hillsborough 216 41.80 173 551.86 551.86 551.86 Hillsborough 217 38.79 177 500.55 500.55 500.55 Lake Deaton 218 30.99 104 680.59 680.59 680.59 Hillsborough 219 35.15 150 535.22 535.22 535.22 Hillsborough 220 40.45 173 534.04 534.04 534.04 Hillsborough 221 32.23 153 481.14 481.14 481.14 Collier 222 33.30 152 500.38 500.38 500.38 Collier 223 49.66 211 537.56 537.56 537.56 Collier 230 27.67 119 531.08 531.08 531.08 Collier 231 11.71 46 581.43 581.43 581.43 Collier 232 50.93 214 543.57 543.57 543.57 Lake Deaton 233 22.38 91 561.72 561.72 561.72 Lake Deaton 234 61.76 257 548.87 548.87 548.87 Heathrow@ Lake Deaton 235 35.46 75 1,079.88 1,079.88 1,079.88 Lake Deaton 236 38.90 150 592.32 592.32 592.32 Lake Deaton 236 TractC 0.48 1 1,096.33 1,096.33 1,096.33

237 38.66 156 566.03 566.03 566.03 Collier Carrabelle 10.07 83 277.11 277.11 277.11

Leyton 8.47 74 261.43 261.43 261.43 Collier Marianna 9.40 66 325.30 325.30 325.30 Collier Melbourne 8.87 62 326.76 326.76 326.76 Hillsborough New Haven 9.89 83 272.16 272.16 272.16 Collier Perry 11.06 81 311.87 311.87 311.87 Lake Deaton Pineland 8.65 63 313.60 313.60 313.60 Hillsborough Ventura 8.47 59 327.89 327.89 327.89

Whitney 9.53 70 310.95 310.95 310.95 Total Phase #1 787.45 3,501

Phase#2 Labelle 183 38.88 175 $ 507.44 $ 507.44 $ 507.44 Labelle 184 27.59 135 466.79 466.79 466.79 Labelle 185 29.77 134 507.43 507.43 507.43 Labelle 185 - Tract A 0.36 1 822.25 822.25 822.25

-----------Labelle 186 35.43 157 515.43 515.43 515.43 Labelle 187 36.45 156 533.67 533.67 533.67 Labelle 187 -Tract C 0.16 1 365.44 365.44 365.44 Osceola Hills 189 50.30 203 565.94 565.94 565.94 Osceola Hills 189-Tract E 0.13 1 296.92 296.92 296.92 Osceola Hills 190 49.41 102 1,106.40 1,106.40 1,106.40 Osceola Hills 191 39.91 167 545.84 545.84 545.84 Osceola Hills 191 - Tract C 0.03 1 68.52 68.52 68.52 Osceola Hills 192 29.65 126 537.47 537.47 537.47 Osceola Hills 193 44.93 195 526.26 526.26 526.26 Osceola Hills 194 57.14 229 569.91 569.91 569.91 Osceola Hills 194- Tract A 0.43 1 982.13 982.13 982.13 Osceola Hills 195 43.29 198 499.37 499.37 499.37 Osceola Hills 200 35.48 151 536.67 536.67 536.67 Osceola Hills 201 23.99 105 521.84 521.84 521.84 Osceola Hills 204 37.24 159 534.95 534.95 534.95

Alden Bungalows 32.40 180 411.12 411.12 411.12 Alden Bungalows - Tract B 0.31 1 708.04 708.04 708.04 Antrium Dells 34.90 182 437.98 437.98 437.98 Antrium Dells - Tract E 0.33 1 753.73 753.73 753.73

Osceola Hills Beauclair 8.90 61 333.24 333.24 333.24 Osceola Hills Belle Glade 7.02 49 327.22 327.22 327.22

Callahan 6.96 60 264.95 264.95 264.95 Labelle Harlow 8.98 63 325.56 325.56 325.56 Dunedin Kelsea 9.72 69 321.75 321.75 321.75 Dunedin Pensacola 11.50 83 316.46 316.46 316.46

Total Phase #2 701.59 3,146

Grand Total 1,489.04 6,647 Budget Revenue (96%) $ 3,264,950 $ 3,264,950 $ 3,264,950

Tax Collector (2%) $ 68,020

5/22/20185:27 PM 5

18-19 Object C d o es

325100 325111 325112 361100 361103 499995 381000 381002 669900 669901 499998

500310 517314 500320 517321 517323 517324 500700 517710 517715 517720 517730 500900 581919 599999

VILLAGE COMMUNITY DEVELOPMENT DISTRICT District 10 - Debt Service Fund - 2012 Assessment Bonds

FY 2018-19 Budget

- - - -10 201 00 00 000 SOURCES Special Assessments-Cao.lmorov

Debt Service Assessment(Reg) Debt Service Assessment(Pre-

Interest Int Income - USB

TOTAL REVENUE lnterfund Transfer

Transfer In - Debt Service Budaet Fundina Sources (Addl/Use-Workina Caoital

TOTAL SOURCES

DISBURSEMENTS Professional Services Tax Collector Fees

Accounting & Auditing Accountina Services Trustee Services Arbitraae Services

Debt Service Principal Principal - Prepayment Interest Miscellaneous Bond Exoenses

Other Uses Transfer to Miscellaneous

TOTAL DISBURSEMENTS

2016-17 At I c ua

6,008,168 4,759,849 1,248,319

45,440 45,440

6,053,608 21,927 21,927

6,075,535

95,197 95,197 17,588

3,500 14,088

6,165,919 1,275,000 1,455,000 3,435,419

500 1,258,300 1,258,300 7,537,004

2017-18 Original B d u 1aet

6,691,893 4,691,893 2,000,000

8,000 8,000

6,699,893

91,600 91,600

6,791,493

97,748 97,748 19,989

3,500 14,089 2,400

6,673,756 1,315,000 2,000,000 3,357,756

1,000

6,791,493

6

2017-18 Amended

B d u 1aet

6,691,893 4,691,893 2,000,000

8,000 8,000

6,699,893

91,600 91,600

6,791,493

97,748 97,748 19,989

3,500 14,089 2,400

6,673,756 1,315,000 2,000,000 3,357,756

1,000

6,791,493

2017-18 2018-19 7-Month Proposed

ctua u Iaet A I B d

5,259,555 6,699,448 4,636,767 4,699,448

622,788 2,000,000 37,042 45,000 37,042 45,000

5,296,597 6,744,448 33,221 33,221

(43,393) (43,393

5,329,818 6,701,055

92,735 95,908 92,735 95,908 19,988 18,997

3,500 3,500 14,088 15,497 2,400

2,294,231 6,586,150 1,350,000

630,000 2,000,000 1,662,731 3,235,150

1,500 1,000 33,209 33,209

2,440,163 6,701,055

5/22/2018 5:22 PM

18-19 Object C odes

325100 325111 325112 361100 361103 499995 381000 381002 669900 669901 499998

500310 517314 500320 517321 517323 500700 517710 517715 517720 517730 500900 581919 599999

VILLAGE COMMUNITY DEVELOPMENT DISTRICT District 10 - Debt Service Fund - 2014 Assessment Bonds

FY 2018-19 Budget

2016-17 10-202-00-00-000 Actual

SOURCES Special Assessments-Cap.lmprov 6,968,106

Debt Service Assessment(Reo) 4,860,136 Debt Service Assessment/Pre- 2,107,970

Interest 87,782 Int Income - USB 87,782

TOTAL REVENUE 7,055,888 lnterfund Transfer 104,405 Transfer In - Debt Service 104,405

Budaet Fundina Sources (Add)/Use-Working Capital

TOTAL SOURCES 7,160,293

DISBURSEMENTS Professional Services 97,203 Tax Collector Fees 97,203

Accounting & Auditing 15,115 Accountino Services 1,000 Trustee Services 14,115

Debt Service 6,681,334 Principal 1,000,000 Principal - Prepayment 1,895,000 Interest 3,785,834 Miscellaneous Bond Exoenses 500

Other Uses 104,369 Transfer to Miscellaneous 104,369

TOTAL DISBURSEMENTS 6,898,021

7

2017-18 Original Budget

6,558,743 4,758,743 1,800,000

15,000 15,000

6,573,743

83,974 83,974

6,657,717

99,140 99,140 15,115

1,000 14,115

6,543,462 1,035,000 1,800,000 3,707,462

1,000

6,657,717

2017-18 Amended

Budget

6,558,743 4,758,743 1,800,000

15,000 15,000

6,573,743

83,974 83,974

6,657,717

99,140 99,140 15,115

1,000 14,115

6,543,462 1,035,000 1,800,000 3,707,462

1,000

6,657,717

2017-18 7-Month Actual

5,455,426 4,672,110

783,316 66,061 66,061

5,521,487 196,726 196,726

5,718,213

93,442 93,442 15,115

1,000 14,115

2,977,050

1,150,000 1,825,550

1,500 196,627 196,627

3,282,234

2018-19 Proposed

Budget

6,907,975 4,707,975 2,200,000

88,000 88,000

6,995,975

(95,708) (95,708

6,900,267

96,082 96,082 16,527

1,000 15,527

6,787,658 1,055,000 2,200,000 3,531,658

1,000

6,900,267

5/22/2018 5:24 PM