Adopted Budget
Fiscal Year 2023

Verano #5 Community Development District

July 21, 2022

Verano #5
Community Development District

TABLE OF CONTENTS

General Fund Budget
Budget Narrative

Page 1-4
Page 5-6

Verano #5
Community Development District

General Fund

Adopted Budget
 Description	FY 2022 

Actual Thru
    6/30/2022 

Projected Next
   3 Months 

Total Projected
   9/30/2022 

Adopted Budget
     FY 2023	

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 Maintenance Assessm - V#3 Pod G S2021

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

$53,675
$83,961
$36,896
$21,497
$207,188
$98,356
$387
$0

$53,857
$84,249
$37,004
$21,558
$207,777
$99,106
$390
$0

$0
$0
$0
$0
$0
$0
$4
$0

$53,857
$84,249
$37,004
$21,558
$207,777
$99,106
$394
$0

$61,740
$86,910
$42,345
$35,967
$207,188
$210,722
$0
$87,085

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 S2020 Maintenance Assessm - V#2 Pod D S2020 Maintenance Assessm - V#2 Pod E S2020 Maintenance Assessm - V#3 Pod G S2021
Developer Funding - V#3 Pod G S2021 Maintenance Assessm - V#4 Maintenance Assessm - Center Developer Contribution shortfall Stormwater Rebate Fees
Carry Forward Surplus

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

$8,447
$2,949
$5,517
$14,469
$112,366
$35,110
$28,584
$276,417
$0
$4,225
$8,225
$140,538
$204,158
$0

$8,447
$2,949
$5,517
$14,469
$82,444
$35,109
$28,584
$200,016
$0
$4,225
$8,225
$0
$300,852
$0

$0
$0
$0
$0
$29,922
$0
$0
$0
$0
$0
$0
$0
$0
$0

$8,447
$2,949
$5,517
$14,469
$112,366
$35,109
$28,584
$200,016
$0
$4,225
$8,225
$0
$300,852
$0

$0
$0
$0
$0
$0
$35,497
$28,584
$122,293
$44,737
$4,300
$8,400
$0
$322,500
$57,605

TOTAL REVENUES

  $1,342,966 

   $1,194,780 

 	$29,926 

   $1,224,707 

   $1,355,873 

Expenditures

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

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

$0
$14,097
$3,100
$22,500
$0
$1,323
$1,068
$9,625
$1,038
$159
$118
$175
$0
$563

$5,000
$5,903
$0
$7,500
$50
$500
$932
$0
$500
$150
$45
$0
$0
$188

$5,000
$20,000
$3,100
$30,000
$50
$1,823
$2,000
$9,625
$1,538
$309
$163
$175
$0
$750

$5,000
$20,000
$3,200
$31,500
$50
$900
$2,000
$10,828
$1,300
$650
$300
$175
$300
$750

TOTAL ADMINISTRATIVE

$75,787

$53,766

$20,767

$74,533

$76,953

Field Maintenance: Field Management Lake Maintenance
Landscape Maintenance Wetland and Mitigation Water Sampling-BMAP Contingency

$24,000
$223,670
$247,808
$0
$5,000
$10,000

$16,000
$81,053
$199,613
$12,300
$3,871
$850

$6,000
$49,494
$72,324
$0
$1,129
$9,150

$22,000
$130,547
$271,937
$12,300
$5,000
$10,000

$24,000
$223,670
$247,808
$25,000
$5,000
$10,000

TOTAL MAINTENANCE

     $510,478 

 	$313,687 

     $138,097 

 	$451,784 

 	$535,478 

TOTAL EXPENDITURES

     $586,265 

 	$367,453 

     $158,864 

 	$526,317 

 	$612,431 

Page 1

Verano #5
Community Development District

General Fund

Adopted Budget
 Description	FY 2022 

Actual Thru
    6/30/2022 

Projected Next
   3 Months 

Total Projected
   9/30/2022 

Adopted Budget
     FY 2023	

Other Financing Sources and (Uses)

Intergovernmental Transfer (2)

($756,701)

($514,544)

($17,744)

($532,288)

($743,442)

Total Other Financing Sources and (Uses)

    ($756,701)

     ($514,544)

 	($17,744)

    ($532,288)

     ($743,442)

NET CHANGE IN FUND BALANCE

 	($0)

$312,784

($146,682)

$166,102

($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 2022 

Actual Thru
    6/30/2022 

Projected Next
   3 Months 

Total Projected
   9/30/2022 

Adopted Budget
     FY 2023	

Assessments Table

Verano #1 Series 2015

Verano #1 Series 2017

Verano #2 Pod B Series 2017

Verano #2 Pod C Series 2017

Page 3

Per Unit	Tax Roll	Total
Description	On Roll 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

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

Duplex/Manor	0	$121.66
40's	45	$136.70
50's	139	$157.21
60's	 	61		 $181.81	
Total Residential	245	Gross Assessments
Less: Discount & Collections 8%
Net Assessments

$0.00
$6,151.50
$21,852.19
$11,090.41

$39,094.10 ($3,127.53)

$35,966.57

Verano #2 Pod A - Series 2017

Amount	Total
Description	On Roll Units	per unit*	On Roll

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

4	$121.66
26	$136.70
116	$157.21
123	$181.81
6	$196.17
 	1		 $210.52	
276	Gross Assessments
Less: Discount & Collections 8%
Net Assessments

$486.64
$3,554.20
$18,236.36
$22,362.63
$1,177.02
$210.52

Total Residential

$46,027.37 ($3,682.19)

$42,345.18

Tax Roll	Total
Description	On Roll Units	per unit	On Roll

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

Clubhouse Commercial

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

32,565	$0.0984
60,000	$0.11
Gross Assessments Less: Discount & Collections 8%
Net Assessments

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

$3,205.12

$6,600.00

Total Residential/Commercial

$94,466.94 ($7,557.36)

$86,909.58

Tax Roll	Total
Description	On Roll Units	per unit	On Roll

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

164	$136.70
81	$157.21
60	$181.81
 	173		$121.66
478
Gross Assessm. Less: Discount & Collections 8%
Net Assessments

$22,418.80
$12,734.01
$10,908.60
$21,047.18

Total Residential

$67,108.59 ($5,368.69)

$61,739.90

Verano #5
Community Development District

General Fund

Adopted Budget
 Description	FY 2022 

Actual Thru
    6/30/2022 

Projected Next
   3 Months 

Total Projected
   9/30/2022 

Adopted Budget
     FY 2023	

Verano #2 Pod C Series 2020

Verano #2 Pod D Series 2020

Verano #2 Pod E Series 2020

Verano #3 Pod G Series 2021

Verano #3 Pod G Series 2021

Direct Billed Units

Per Unit Pod G

Amount per unit*

Total Direct Billed

Description

Phase I 318
158
23
63
40
 	46	

Apartments Casitas
40' Single Family
50' Single Family
60' Single Family Villa/Townhome

$86.43
$86.43
$196.42
$225.89
$261.24
$174.82

$60.15
$60.15
$136.70
$157.21
$181.81
      $121.66	
Gross Assessments

$46,611.18
$23,159.01
$7,661.82
$24,135.06
$17,722.09
$13,637.91

Total Residential

648

$132,927.07

Less: Discount & Collections 8%
Net Assessments

($10,634.17)

$122,292.91

* amounts for CDD Master

Page 4

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

Phase I
Apartments	0	$86.43	$60.15
Casitas	0	$86.43	$60.15
40' Single Family	122	$196.42	$136.70
50' Single Family	141	$225.89	$157.21
60' Single Family	0	$261.24	$181.81
Villa/Townhome	 	0		$174.82	 $121.66	
263	Gross Assessments
Less: Discount & Collections 8%
Net Assessments

$0.00
$0.00
$40,640.98
$54,016.56
$0.00
$0.00

$94,657.54 ($7,572.60)

$87,084.94

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
 	19		 $210.54	
230	Gross Assessments
Less: Discount & Collections 8%
Net Assessments

$5,604.70
$14,620.53
$9,454.12
$4,904.25
$4,000.26

Total Residential

$38,583.86 ($3,086.71)

$35,497.15

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

40's
50's

87	$911.45	$136.70
 	129		 $911.45		 $157.21	
216	Gross Assessments
Less: Discount & Collections 8%
Net Assessments

$91,189.05
$137,857.14

Total Residential

$229,046.19 ($18,323.70)

$210,722.49

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 5

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 6