University Park Recreation District
12051 Corporate Boulevard, Orlando, FL 32817	Phone: 407-723-5900
http://universityparkrd.com/

The regular meeting of the Board of Supervisors of University Park Recreation District will be held Friday, July 10, 2020 at 1:00 p.m. via conference call due to the COVID-19 Executive Order 20-150. Attached to this Agenda is a copy of the Executive Order 20-150. The following is the proposed agenda for this meeting.

Call in number: 1-844-621-3956 (New) Passcode: 790 562 990 # (New)
Join meeting via WebEx Personal Room: https://pfmgroup.webex.com/meet/carvalhov

NOTE:  If you are calling into the meeting by phone or WebEx, please MUTE your line!

BOARD OF SUPERVISORS’ MEETING AGENDA

Organizational Matters
Call to Order
Roll Call to Confirm Quorum
Public Comment Period [for any members of the public desiring to speak on any proposition before the Board]

Administrative Matters

Discussion regarding Executive Order 20-150
Consideration of the Minutes of the Rescheduled June 26, 2020 Board of Supervisors’ Meeting

Business Matters
Update Regarding Revolving Line of Credit
Update of Country Club Forecast for FY20
Update Pertaining to District O&M Forecast for FY20
Update regarding Supervisor of Elections 2020
Update of Trademark / Servicemark License Agreement
Update of FY 2019 Audit Report
Update of the Owners Outstanding Assessments
Update Pertaining Parcel 7
Update Pertaining the Usage of the Sales Center

Update of the District Website Services

District Financials
Ratification of Payment Authorizations # 17 & 18
Review of the District Financial Position
Other Business
Staff Reports District Counsel

District Manager

Date	Meeting Type	Time	Location	Note	
August 14, 2020	BOS- Public Hearing on Proposed Budgets FY 2021	1:00PM	University Park Country
Club	Lakeside Room	

Supervisor Requests

Adjournment

University Park Recreation District

Discussion regarding Executive Order 20-150

STATE OF FLORIDA
OFFICE OF THE GOVERNOR
EXECUTIVE ORDER NUMBER 20-150
(Emergency Management - COVID-19 - Local Government Public Meetings)
WHEREAS, Executive Order 20-69, as extended by Executive Order 20-112, Executive Order 20-123 and Executive Order 20-139, expires on June 30, 2020, unless extended.
NOW, THEREFORE, I, RON DESANTIS, as Governor of Florida, by virtue of the authority vested in me by Article IV, Section (l)(a) of the Florida Constitution, Chapter 252, Florida Statutes, and all other applicable laws, promulgate the following Executive Order to take immediate effect:
Section 1. I hereby extend Executive Order 20-69, as extended by Executive Orders 20- 121, 20-123 and 20-139, until 12:01 a.m. on August 1, 2020.
IN TESTIMONY WHEREOF, I have hereunto set my hand and caused the Great Seal of the State of Florida to be affixed, at Tallahassee, this 23rd day o	e, 2020.

ATTEST:

University Park Recreation District

Consideration of the Minutes of the Rescheduled June 26, 2020 Board of Supervisors’ Meeting

UNIVERSITY PARK RECREATION DISTRICT BOARD OF SUPERVISORS MEETING
Friday, June 26, 2020 at 1:00 p.m.
Via conference call due to the COVID-19 Executive Order 20-52, 20-69, & 20-112

Board Members present at roll call:

Bob Wood	Chairperson	(via phone)	
Jim Long	Assistant Secretary	(via phone)	
Beth Bertsch	2nd Vice Chairperson	(via phone)	
Nancy Kopnisky	Assistant Secretary	(via phone)	
Steve Ludmerer	Vice Chairperson & Treasurer	(via phone)	

Also, Present:

Hank Fishkind	PFM	(via phone)	
Vivian Carvalho	PFM	(via phone)	
Amy Champagne	PFM	(via phone)	
Jennifer Glasgow	PFM	(via phone)	
Mark Barnebey	Blalock Walters Law Firm	(via phone)	
Laurie Evans	Country Club	(via phone)	
Curtis Nickerson	Country Club	(via phone)	
Various Members of the General Public

FIRST ORDER OF BUSINESS	Call to Order and Roll Call

The meeting was called to order at 1:00 p.m. Those in attendance are outlined above.

SECOND ORDER OF BUSINESS	Organizational Matters Opening Comments
Mr. Wood provided opening remarks.

Public Comments

There were no public comments at this time.

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Discussion regarding Executive Orders 20-112 and 20-114

A copy of the Executive Orders is included in the agenda package. Mr. Barnebey provided an overview of the Executive Orders. The Executive Order 20-150 has been extended to August 1, 2020. There were extensions granted related to prohibiting filing foreclosure actions. That Order expires July 1, 2020 baring and extension by the Governor. However, he thinks the Governor might extend that as well.

Mr. Ludmerer added the Governor’s Order required a ten-day advance notice of the virtual meeting vs. the seven-day notice of the in-person meeting. Mr. Barnebey stated it requires the District to include certain information in the notice. If the Board wants to hold a virtual meeting in July the Board must let District Management know at least ten days prior to the potential meeting to get the required notices out for publication. Ms. Carvalho proceeded with an advertisement this morning in anticipation of this and it can be cancelled if needed but proceeded with a July 10, 2020 meeting with the extension of Executive Order 20-150 provision in the notice.

Consideration of Minutes of the May 8, 2020 Board of Supervisors’ Meeting

The Board reviewed the Minutes of the May 8, 2020 Board of Supervisors’ Meeting. Ms. Kopnisky previously provided corrections to the minutes. Mr. Wood noted an error to the minutes. Mr. Ludmerer stated the minutes had considerably more detail than is needed and requested the minutes to be more concise.

ON MOTION by Mr. Long, seconded by Ms. Kopnisky, with all in favor, the Board approved Minutes of the March 3, 2020 Board of Supervisors’ Workshop Meeting and Minutes of the March 13, 2020 Board of Supervisors’ Meeting, as amended.

Update for Country Club Forecast for FY 20

Mr. Ludmerer provided and overview of the Country Club forecast. Ms. Evans provided an overview of the impact of COVID-19. Mr. Wood, Ms. Bertsch, and Ms. Kopnisky thanked the staff.

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Consideration of Workshop vs, Regular Meeting on July 10, 2020

Ms. Wood noted the meeting scheduled on July 10, 2020 will now be a workshop as opposed to a Board of Supervisors’ Meeting and will likely take place virtually. Mr. Ludmerer requested the July 10, 2020 meeting be kept as a regular Board of Supervisors Meeting with the primary function being the workshop on the Budget. Mr. Barnebey stated the District can make it a regular meeting and treat it as a workshop, but it will allow the Board to take action if needed.

Ms. Carvalho advertised it as a regular meeting pending this discussion. One of the items at that meeting will be a workshop on the Budget. No action was required by the Board.

Update regarding Supervisor of Elections 2020

Mr. Barnebey provided an overview of the election process. Qualified electors must be over 18-year-old and reside at one specific residents at UPRD for 183 days prior to the Election.

Mr. Wood asked how the District should communicate the election process to the residents. Mr. Barnebey suggested posting it on the website and posting on the physical site. Ms. Kopnisky recommended posting a simplified version. Mr. Long suggested District staff mail ballots to all the homes with an explanation on how to vote. A lengthy discussion took place.

Mr. Wood asked Mr. Barnebey to review the questions which were asked and have an opinion for the Board at the July 10, 2020 meeting to finalize the process.

Update	of	Trademark	/ Servicemark License Agreement

Ms. Kopnisky provided an overview of the discussion she had with the various representatives. Ms. Evans agreed the District should go ahead with the Servicemark of University Park Grill and Café to combined them. This relates to the Pro Shop and merchandise. The letter of Agreement between UPCAI and the District costs $1,100.00. A 2 Class applications costs $1,2000.00. The District should receive the proposed Letter of Agreement by the end of next week.

A discussion took place about the word “Café” and if the accent will go on the “E”. Ms. Kopnisky asked the Board if they wanted her to find out the about the addition of the 3rd Class for the University Park County Club. Mr. Wood requested she find out that information and bring it back for discussion at the meeting on July 10, 2020.

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Update of FY 2019 Audit Report

Mr. Ludmerer provided an update of the Fiscal Year 2019 Audit Report. He was told by Mr. Philips that the District will have all the information that it needs to complete the Audit by next week. On July 10, 2020 the Board will review the draft of the Audit.

Update of the Owners Outstanding Assessments

Mr. Barnebey explained the District is now down to three people with outstanding assessments. Two for $1,000.00 each plus fees. The District has been authorized to foreclose on them but cannot do that based on the Governor’s most recent Executive Order. The District is prepared to move forward with foreclosure as soon as the Executive Order is lifted.

The other outstanding assessment is for $19.67 and he did not recommend foreclosure but to communicate with them to get them to pay. No action was necessary by the Board.

Update Pertaining to Parcel 7

Mr. Wood provided an overview of the letter sent to UPCAI which indicates the District is transferring the option to purchase Parcel 7 to them if they wish to accept it but the District has no intention of moving ahead with the acquisition of Parcel 7. UPCAI asked for more clarification on District expectations as it relates to value which will be clarified this week as to the District’s expectations. A discussion took place.

Mr. Ludmerer stated per the terms which were originally discussed with the UPCAI, if they sold Parcel 7 then the District and UPCAI would divide the excess profit equally between the two entities.

It is important for UPCAI to respond to the District about what they think should happen on Parcel 7. Mr. Wood noted UPCAI requested clarification on Parcel 7 and the Sales Center. The District will respond to see if their expectation and the District are the same as it relates to Parcel 7 if there is a transaction in the future.

Update Pertaining to the Usage of the Sales Center

Mr. Wood provided an overview of the letter sent to Mr. Whyte. UPCAI requested clarification regarding the Sales Center.

Discussion	Pertaining	to	the Usage of the District Website

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Ms. Bertsch provided an overview of website. A lengthy discussion took place about the District website needs. No action was required by the Board.

FOURTH ORDER OF BUSINESS	District Financials

Ratification	of	Payment Authorization 14 & 16

Mr. Ludmerer stated Payment Authorization #14 has been reconciled. He recommended approval of Payment authorization #14. He went on to say Payment Authorization #16 was revised with the District Management fees section. The alcoholic License Fee should be charged to the County Club not the District and the cost of litigation on liens for Special Assessment need to be categorized as a litigation expense. He recommended approval of Payment Authorization #16, per the suggested changes.

ON MOTION by Mr. Long, seconded by Ms. Bertsch, with all in favor, the Board ratified Payment Authorization 14 & 16, per the suggested changes.

Review	of	District	Financial Position

Mr. Ludmerer provided an overview of the financial position.

FIFTH ORDER OF BUSINESS	Staff Reports

District Counsel-Mr. Barnebey explained that a lawsuit was filed, recorded in public records and named many individuals on District staff, the Board, County Commissioners, attorneys, and judges. He spoke to two different title companies about what that might mean if individuals want to sell the property or refinance their property and they assured him there would be no issues with title work if something happened in that regard. He does not think this will be an issue and did not recommend any action.

District Manager- Dr. Fishkind discussed the bank line of credit options and he will work with Mr. Ludmerer and they will have a more formal report at the next meeting.

Mr. Wood asked if there has been investigation about refinancing the Bonds. Dr. Fishkind stated the District cannot do that. Current tax laws do not allow for advanced refunding on

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the Bonds. Mr. Ludmerer added the is a 10 year no call provision and the earliest the District can refund the Bonds on a tax-free basis would be November 2029.

1. Status of Project Action List
Ms. Evans stated roof work is being done on the front half of the building.

Supervisor Requests- Mr. Wood stated the next meeting is scheduled for July 10, 2020 and will take place virtually.

Ms. Bertsch thanked everyone. Ms. Kopnisky thanked everyone. Mr. Ludmerer thanked Club Management.

Public Comment- There were no public comments.

SIXTH ORDER OF BUSINESS	Adjournment

Mr. Wood requested a motion to adjourn.

ON MOTION by Mr. Long, seconded by Mr. Ludmerer, with all in favor, the Friday, June 26, 2020 Rescheduled Board of Supervisors’ Meeting for University Park Recreation District was adjourned at 2:26PM.

Secretary / Assistant Secretary	Chairperson / Vice Chairperson

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Update Regarding Revolving Line of Credit

Update of Country Club Forecast for FY20

Overview
The 2021 fiscal year budget is based on the following assumptions and considerations including the impact of the COVID-19 health crisis on business operations documented through 7/7/21. The fact that there is no historical data or experience with this coronavirus other than our recent experience presented a challenge when preparing the budget and our conservative projections reflect that.
The preliminary draft of the budget submitted in May called for a surcharge in addition to a 4% dues increase. We had hoped that the surcharge could be avoided and that the challenging business conditions resulting from the coronavirus crisis would have abated by now. Unfortunately, that has not been the case. Given our commitment to generate surplus funds of 5% or more per year to cover district management and other expenses, we find it necessary to move forward with a monthly surcharge per membership as outlined below.
Membership Dues
Dues increase across all categories has been budgeted with no change to the associated membership costs including the food and beverage minimum, trail fees, annual dues payment discount, and cart fees. An Operations Recovery Surcharge has been added this year to help offset the impact of COVID-19 and other potential associated financial challenges including staff retention.
4% increase for all categories of membership effective January 1, 2021
Membership numbers reflect net loss of 10 Full Memberships
Operations Recovery Surcharge added monthly effective January 1, 2021
$50 for Full memberships
$35 for Tennis & Sports memberships
$25 for Social memberships
Golf Operations
FY 2021 budget includes an increase in cart fee revenue related to the addition of golf carts with GPS offset by less rounds of golf played by non-members. Golf merchandise sales are budgeted less due to less pro shop traffic.
15% reduction in golf revenue compared to FY 2020 budget
9 holes closed in June and July 2021
Single Rider/Single Cart restrictions
Golf merchandise sales down 8%
Tennis & Fitness
Revenue reduction related to reduced fitness classes and personal training sessions due to COVID-19 restrictions.
25% reduction compared to FY 2020 budget

Food and beverage revenue reduction tied to COVID-19 impact including significant loss of Banquet and Catering business. Varsity Club reduced operations to accommodate social distancing and reduced occupancy restrictions for indoor dining at The Park Grille.
20% overall reduction compared to FY 2020

Expenses
Golf Operations
Expenses reduced compared to FY 2020 budget with savings related to staffing for reduced golf rounds and new equipment efficiencies.
Reduced electricity costs – new golf carts with lithium batteries
Lower Cart Maintenance – new carts
Pro shop staff reduced hours – fewer rounds
Tennis & Fitness
These expenses reflect reduced personal training and fitness class activity
Restaurant Operations
Reduced expenses consistent with estimated restaurant volume
Food and beverage costs reduced by 20%
Reduced expenses relating to staffing and supplies consistent with reduced volume
Electricity savings
Golf Course Maintenance
Total golf course maintenance expenses approximate FY 2020 budget with certain increases and decreases as follows:
Increased fertilizer costs related to increased cart traffic on course
Savings in chemicals due to inventory carry over from prior year
Savings in water cost related to the purchase of the club
Equipment repair costs reduced due to acquisition of new equipment

General & Administration
FY 2020 changes in budgeted expenses related to club acquisition.
Necessary staff restructuring
Reduced bank fees – new banking relationship
Upgrade cost for more efficient Payroll system

Enterprise Fund Operations Preliminary Budget FY 2021 and Latest Forecast FY 2020

										

										
							As of 6/17/20			
			FY 2021		FY 2021		FY 2020		FY 2020	
							Forecast		Original Budget	
	UNIVERSITY PARK COUNTRY CLUB OPERATIONS		Oct '20 to Sept '21		Comments/Assumptions		Oct '19 to Sept '20		Oct '19 to Sept '20	
	
REVENUE									

Membership Dues		

$3,852,384		4% Dues rate increase + monthly surcharge per membership category
starting 1/1/21. Current membership levels less a net loss of 10 full
memberships.		

$3,221,780		

$3,200,091	
										
	Golf Operations		2,525,706		15% Reduction from fiscal 2020 budget		2,596,129		2,877,887	
										
	Tennis & Fitness Centre		67,806		25% Reduction from fiscal 2020 budget		56,214		89,485	
										
	Restaurant Operations		1,721,582		20% Reduction from fiscal 2020 budget		1,625,324		2,152,912	
										
	Other Income		5,000				3,968		5,760	
										
	TOTAL REVENUE		8,172,478				7,503,415		8,326,135	

	EXPENSES									
	
Golf Operations		
1,135,772		Most expenses unchanged, except for gross margin on reduced
merchandise sales and other costs in FY'21 tied to COVID impact		
1,020,602		
1,161,609	

Tennis & Fitness Centre		
328,056		Expenses static except for less personal training and fitness class costs
in FY'21		
317,416		
343,640	

Restaurant Operations		
2,272,626		Reduced food & beverage cost by 20% from FY'20 budget. Minor
payroll and other cost savings in FY'21		
2,314,530		
2,534,927	
										
	Golf Course Maintenance		2,612,710		FY'20 budget less certain operating expense savings in FY'21		2,497,325		2,559,739	
										
	General & Administration		1,615,937		FY'20 budget less certain operating expense savings in FY'21		1,523,473		1,482,801	
										
	TOTAL EXPENSES		7,965,101				7,673,346		8,082,716	
										
	Operating Income (Loss) Excluding Non-Cash
Charges		
207,377				
($169,931)		
243,419	
										
	Initiation Fees		159,250				130,000		132,075	
										
	Surplus (Deficit) Available for other District Needs		$366,627				($39,931)		$375,494	

	Notes on FY 2021 Budget and FY 2020 Forecast Assumptions								
	1. Budget and forecast prepared based on historical operations, impact of experience since mid-March 2020 and estimates for FY 2021					
	2. Current level of staff/employees remains constant during the periods with minor exceptions					
	3. Inpact of PPP grants, if any, is not included herein as the PPP has no impact on operating forecast and budget					

7/8/20

Update Pertaining to District O&M Forecast for FY20

Update Regarding the Supervisor of Elections 2020

Update of Trademark / Servicemark License Agreement

Update of FY 2019 Audit Report

Update of the Owners Outstanding Assessments

Update Pertaining Parcel 7

Update Pertaining the Usage of the Sales Center

Update of the District Website Services

Ratification of Payment Authorizations #17 & #18

6/1/2020

Vendor

University Park Recreation District

Payment Authorization No. 17 Invoices Received in May 2020

O&M - General Fund Expenses

Description	Amo�nt

Blalock Walters		408B6-000-18 PFM Group Consultin�J	DM-05-2020-0074 PFM Group Consultin�J	DM-05-2020-0075 PFM Group Consultin9	DM-05,-2020-0076 Phillips Harvey Group			12214
\f6..,....-.ffile�eefiit11+T!-!iee�R	��g
TCP'rfaliuiial Baiik	,9,5.ii2s

DA General Rep Apr. 2020	$	1,253.25

--

District Mgmt - May 2020	$	6,250.00
District Acct - May 2020	$	4,'166.67
Website Fee - May 2020	$	208.33

</:.{ ��

·---�

FY 2019 Audit	$	1,920.0
Qble1rt0rly ADA & 1NC4G 4, 1dits,	$	C)otr.oo Turf e:EJUif3flH,At Lease \oog 078� Hl2 100	$	 2"0� 	4

/tf�J ;/l/1/ 257_	7
��	QI\'	lip

O&M - General Fund Expenses Total	$	3!5,701.29

Asst. Secretary/Secretary

IPnvaoyimceesntRecuehtivoeridzaintioMnaNyo2.01270
Non Recurring Expenses

Vendor

Invoice	Description	Amount

'	Blalock Walters	440..;.,0:...:88...:.9966-:0000_ 47--1�165

D......GAo.....lfG....cao_rr_uert..,.,ste_,A,_pP_ur.r2c-h0...2a,.,.s0,,_e _L _ie_n_ S_ e_a_rc_ h 	$$=--2,-0"�17 �50

Blallockk Wallterrs Blalock  Walters

4408996-0124--05
4088S86--0156--04

SSpEeCcial Apr.2s0s2e0ssmentLien-Dowdell SRpeesicdiaelntiasl EsexscshmanegnetLien-Progress

$$	25907..500
$	415.00

Blalo  � Waltters	408f16-017-04	Speciall

AssesesssmenLt ien-WLeester	ry

$$	�1�6357.50

et�-:-:-:-:-:��

2-iii 18S[8}l8'.;ID's-;;; �=)	: -��::--W.:l�� �101"1t'.!IdB=a,,+

$	·s-5:00.,.

4Q8[le G1Q Q1	�	t1011al 0

$	'•��

-O-ne -Tim-e -Exp-en-se-s T·-ota- 	$	3,:i·5-:r-13

Vendor	.!Jwoice	Description	Amount

Blalock Walters	40896-003-02	Special Assessment

$	62' .00

Litigation Expenses	l

��

-To-tal-Lit-iga-tion-E-xpe-n-s-es -------------------· 	$ --f·i-21-.C0

Total One Time and Litigation Expe1se

Asst.Secretary/Secretary

$	:3,B7.3.13

��Treasurer

6/11/2020

University Park Recreation District

Payment	AuthorizationNo.  18

Vendor

O&M - General Fund Expenses

Description

Amount

Bllallock  Wallterrs

404809869-E0i.0002-619

DFY 2GA 0e1n9eralAuRdeitRpeMspaoyn2s0e2L0etter

$	4,430701..400

Phillips-Harvey Group

O&M - General Fund Expenses Total

  Asst. Secretary/Secreta1y	

FY 2019 A1 ,dit - Seotice Cbaqw

$	17.14

$	4,788.54

Payment	AuthorizationNo. 18
Non Recurring Expenses

Vendor
Blalock Walters

Invoice
40896-0132--06

Description
SEeCciMalay 2s0s2e0ssment

Amount
$	79150.00

$

Bllalock Walters

40896--0175--05

SEpxcehcaianl ge AssessmentLien-Progress Residential

$	49207..500

40896-)24-01

Special	AssessmenLt ien-Jackson

113.50

$

Blalock Walters

40896-022-01

Special	AAssessmentLien--WCheadrglebsu/Gryrudzinskas

$	138.50

Blalock Walters

Blalock Walters Blalock Walters

40896-023-01
40896-)25-01

Special	AssessmentLien-1700 Ben, LLC Special	AssessmentLien-Lan Wang

$	138. 50

$

$	138.50

One Time Expenses Total
Vendor

Total Litigation Expenses
Total One Time and Litiqation Expense

AsstS. ecretary/Secretary

Litigation ExpensesDescription

$	1,851.50
Amount

s
$	1 851.50

University Park Recreation District

Review of District Financial Position

General Fund

Debt Service
Fund

Construction
Fund

Enterprise Fund ***

Long Term Debt	Total

$283,168.70	
21,603.04	
1,270,442.50	
2,780.54	
388,730.44	
4,066,705.74	
5,300.00	
2,132,841.00	
420,421.00	
72,445.00	
13,255.00	
184,183.00	
$8,861,875.96	

Current Assets	
General Checking Account	
Due From Other Funds	
Debt Service Reserve 2019 Bond	
Revenue 2019 Bond	
Interest 2019 Bond	
Acquisition/Construction 2019 Bond	
Money Market Account	
Sweep Account	
Accounts Receivable	
Deposits	
Inventories - Materials and Supplies	

Assets

$283,168.70	
21,603.04	

$1,270,442.50	
2,780.54	
388,730.44	

$5,300.00	
2,132,841.00	
420,421.00	
72,445.00	
13,255.00	
184,183.00	
$2,828,445.00	$0.00	

Inventories - For Resale		
Total Current Assets	$304,771.74	

$4,066,705.74

$1,661,953.48	$4,066,705.74

$0.00	$0.00	$0.00

Property, Plant & Equipment	
Fixed Assets	
Accumulated Depreciation - PPE	
Total Property, Plant & Equipment	

$9,247,371.00	
(8,445,354.00)	
$802,017.00	$0.00	

$9,247,371.00	
(8,445,354.00)	
$802,017.00	

$1,661,953.48	
22,338,046.52	
$24,000,000.00	

$1,661,953.48	
22,338,046.52	
$24,000,000.00	

Investments	
Amount Available in Debt Service Funds	
Amount To Be Provided	
Total Investments	

	$0.00		$0.00		
$304,771.74		$1,661,953.48		$4,066,705.74		$3,630,462.00		$24,000,000.00		$33,663,892.96	

Total Assets

Liabilities and Net Assets

Current Liabilities

General Fund

Debt Service

Accrued Expenses Payable		
Total Current Liabilities	$15,635.45	

Fund

Construction
Fund

$195,113.00	
183,441.00	
21,603.04	
1,738,864.00	
147,156.00	
$2,286,177.04	$0.00	

Enterprise Fund ***

Total	

$15,487.63	
147.82	
195,113.00	
183,441.00	
21,603.04	
1,738,864.00	
147,156.00	
$2,301,812.49	

Long Term Debt

Accounts Payable	
Due to End User	
Accounts Payable	
Notes and Loans Payable - Current	
Due To Other Funds	
Deferred Revenue	

 	
$15,487.63	
147.82	

$0.00	$0.00

Long Term Liabilities	
Revenue Bonds Payable - Long-Term	
Total Long Term Liabilities	

$24,000,000.00	
$24,000,000.00	

$24,000,000.00	
$24,000,000.00	

	$0.00		$0.00		$0.00		
$15,635.45		$0.00		$0.00		$2,286,177.04		$24,000,000.00		$26,301,812.49	

Total Liabilities

Current Year Net Assets, Unrestricted	100,000.00	

0.00	
100,000.00	

Net Assets - General Government	$472,635.64	
Current Year Net Assets - General Government	(283,499.35)	

$472,635.64	
(283,499.35)	

$0.00	
$4,066,705.74	

Net Assets

Current Year Net Assets,  Unrestricted

Total Net Assets	$289,136.29		$1,661,953.48		$4,066,705.74		$1,344,284.96		$0.00		$7,362,080.47	
												
Total Liabilities and Net Assets	$304,771.74		$1,661,953.48		$4,066,705.74		$3,630,462.00		$24,000,000.00		$33,663,892.96	

Current Year Net Assets,  Unrestricted

Net Assets, 270	
Current Year Net Assets, 270	

*** Enterprise Fund numbers are through 5/31/20

1,661,953.48

$0.00	
$1,661,953.48	

4,066,705.74

$456,563.00	
887,721.96	

456,563.00	
887,721.96	

 	 

 	  	

$26,810.74	
100,000.00	
100,000.00	
11,705.46	
1,982,402.09	
(11,705.46)	
21,429,704.50	
1,862,998.00	
1,184,764.00	
1,757,726.00	
35,434.00	
47,362.00	
$28,527,201.33	

Off-Roll Assessments	
Other Income & Other Financing Sources	
Inter-Fund Transfers In	
Inter-Fund Group Transfers In	
Debt Proceeds	
Inter-Fund Transfers In	
Debt Proceeds	
Golf Operations	
Restaurant Operations	
Membership Dues	
Tennis & Fitness Centre	
Initiation & Other Fees	
Total Revenues	

Revenues

General Fund	Debt Service Fund	Construction Fund

Enterprise Fund ***

Long Term Debt

Total

$26,810.74	
100,000.00	
100,000.00	

$11,705.46	
1,982,402.09	

($11,705.46)	
21,429,704.50	

$226,810.74	$1,994,107.55	$21,417,999.04

$1,862,998.00	
1,184,764.00	
1,757,726.00	
35,434.00	
47,362.00	
$4,888,284.00	$0.00	

$2,614.00	
56,250.00	
30,293.88	
268,382.78	
6,020.00	
37,500.03	
971.07	
275.85	
325.80	
1,216.80	
405.00	
404.91	
5,474.97	
175.00	
335,133.35	
17,160,561.50	
197,327.54	
659,683.00	
1,171,457.04	
585,056.00	
1,326,320.00	
158,046.00	
100,000.00	

Insurance	
Management	
District Counsel	
District Counsel - Extraordinary	
Audit	
Accounting	
Travel and Per Diem	
Postage & Shipping	
Copies	
Legal Advertising	
Bank Fees	
Contingency	
Web Site Maintenance	
Dues, Licenses, and Fees	
Interest Payments - A1 bond	
Other Financing Uses	
Capital Expenditures	
Management - General & Admin	
Golf Course Maint	
Parks and Recreation - Golf Operations	
Parks and Recreation - Restaurant Ops	
Tennis & Fitness Facility	
Inter-Fund Transfers	

Expenses

$2,614.00	
56,250.00	
30,293.88	
268,382.78	
6,020.00	
37,500.03	
971.07	
275.85	
325.80	
1,216.80	
405.00	
404.91	
5,474.97	
175.00	
$335,133.35

$17,160,561.50	
197,327.54	

$659,683.00	
1,171,457.04	
585,056.00	
1,326,320.00	
158,046.00	
100,000.00	

Interest Income	
Interest Income	
Total Other Revenues (Expenses) & Gains (Losses)	

General Fund	Debt Service Fund	Construction Fund

Enterprise Fund ***

Long Term Debt

Total

$2,979.28	
6,595.74	
$9,575.02	

$6,595.74	
$6,595.74	$0.00	$0.00	

Total Expenses

Other Revenues (Expenses) & Gains (Losses)	$410,310.09		$335,133.35		$17,357,889.04		$4,000,562.04		$0.00		$22,103,894.52	
			$2,979.28		

					
	$0.00		$2,979.28									
Change In Net Assets	($183,499.35)		$1,661,953.48		$4,066,705.74		$887,721.96		$0.00		$6,432,881.83	

Net Assets At Beginning Of Year	
$472,635.64		
$0.00		
$0.00		
$572,783.00		
$0.00		
$1,045,418.64	

Net Assets At End Of Year	

$289,136.29		

$1,661,953.48		

$4,066,705.74		

$1,460,504.96		

$0.00		

$7,478,300.47	

*** Enterprise Fund numbers are through 5/31/20												

University Park Recreation District

Budget to Actual

$510.25	
-	
4,043.88	
58,382.78	
(7,500.00)	
1,520.00	
0.03	
(2,778.93)	
-	
(849.15)	
(1,174.20)	
(2,533.20)	
67.50	
(20,250.00)	
(17,595.09)	
524.97	
43.75	
 	(3,750.00)	
$8,662.59	

General & Administrative Expenses	
Insurance	
Management	
District Counsel	
District Counsel - Non-Recurring	
Assessment Administration	
Audit	
Accounting	
Travel and Per Diem	
Telephone	
Postage & Shipping	
Copies	
Legal Advertising	
Bank Fees	
Meeting Set Up	
Contingency	
Web Site Maintenance	
Dues, Licenses, and Fees	
Short Term Financing Interest	
Total General & Administrative Expenses	
Total Expenses	

For the period of 10/1/2019 Through 6/30/2020 General Fund - Operations & Maintenance
Year To Date	
Actual*	Budget	Variance	FY20
Budget	

Revenues	
Assessments	
Other Income & Other Financing Sources	
Inter-Fund Transfers	
Prior Year Surplus Forward**	
Net Revenues	

$26,810.74	$0.00	
100,000.00	150,000.00	
100,000.00	105,758.25	
-	145,889.25	
$226,810.74	$401,647.50	

$26,810.74	$0.00	
(50,000.00)	200,000.00	
(5,758.25)	141,011.00	
(145,889.25)	194,519.00	
$(174,836.76)	$535,530.00	

$2,614.00	
56,250.00	
30,293.88	
268,382.78	
-	
6,020.00	
37,500.03	
971.07	
-	
275.85	
325.80	
1,216.80	
405.00	
-	
404.91	
5,474.97	
175.00	
 	-		
$410,310.09	

$2,103.75	
56,250.00	
26,250.00	
210,000.00	
7,500.00	
4,500.00	
37,500.00	
3,750.00	
-	
1,125.00	
1,500.00	
3,750.00	
337.50	
20,250.00	
18,000.00	
4,950.00	
131.25	
 	3,750.00	
$401,647.50	

$2,805.00	
75,000.00	
35,000.00	
280,000.00	
10,000.00	
6,000.00	
50,000.00	
5,000.00	
-	
1,500.00	
2,000.00	
5,000.00	
450.00	
27,000.00	
24,000.00	
6,600.00	
175.00	
 	5,000.00	
$535,530.00	

 	$410,310.09	 $401,647.50	 	$8,662.59 $535,530.00

7/9/2020

Net Income (Loss)

   $(183,499.35)	 	$0.00	 $(183,499.35)	 	$0.00

*	  
Actual Expenses may lag by up to two months	
**	As of 6.30.20 the remaining FY19 surplus was $188,704. It is not included here so that the Change in Assets for the current year are
consistant between reports