Trout Creek Community Development District
www.troutcreekcdd.org

Approved Proposed Budget
for Fiscal Year 2024/2025

Table of Contents

Page
General Fund Budget for Fiscal Year 2024/2025	1
Reserve Fund Budget for Fiscal Year 2024/2025	5
Debt Service Fund Budget for Fiscal Year 2024/2025	6
Assessments Charts for Fiscal Year 2024/2025	7
General Fund Budget Account Category Descriptions	10
Reserve Fund Budget Account Category Descriptions	15
Debt Service Fund Budget Account Category Descriptions	16

	
Chart of Accounts Classification	Actual YTD through 03/30/24	
Projected Annual Totals 2023/2024	
Annual Budget for 2023/2024	Projected Budget variance for 2023/2024	
Budget for 2024/2025	Budget Increase (Decrease) vs 2023/2024	
Comments	
									
1	REVENUES								
2									
3	Special Assessments								
4	Tax Roll*	$	2,436,112	$	2,473,954	$	2,473,954	$	-	$	3,125,452	$	651,498	Tax Roll & Off Roll will be certified at Public Hearing	
5	Off Roll*	$	187,946	$	258,771	$	258,771	$	-	$	775,530	$	516,759		
6	Contributions & Donations from Private Sources								
7	HOA Capital Transfer	$	-	$	131,900	$	155,050	$	(23,150)	$	-	$	(155,050)	$100K Estimate	
8	Other Miscellaneous Revenues								
9	Activity Fees	$	3,205	$	6,410	$	45,000	$	(38,590)	$	30,000	$	(15,000)		
10	Café Revenue	$	3,625	$	7,250	$	24,970	$	(17,720)	$	24,970	$	-		
11	Tennis Revenue Share Agreement	$	-	$	-	$	-	$	-	$	24,000	$	24,000	New Line - Off Set by Expenditure Line 98	
12	Facilities Rentals	$	17,793	$	35,586	$	2,500	$	33,086	$	35,000	$	32,500		
13	Special Events	$	7,038	$	14,076	$	-	$	14,076	$	20,000	$	20,000		
14	Insurance Proceeds	$	4,155	$	4,155	$	-	$	4,155	$	-	$	-		
15									
16	TOTAL REVENUES	$	2,659,874	$	2,932,102	$	2,960,245	$	(28,143)	$	4,034,952	$	1,074,707		
17									
18	Balance Forward from Prior Year	$	-	$	-	$	-	$	-	$	-	$	-		
19									
20	TOTAL REVENUES AND BALANCE FORWARD	$	2,659,874	$	2,932,102	$	2,960,245	$	(28,143)	$	4,034,952	$	1,074,707		
21									
22	*Allocation of assessments between the Tax Roll and Off Roll are estimates only and subject to change prior to certification.		
23									
24	EXPENDITURES - ADMINISTRATIVE								
25									
26	Legislative								
27	Supervisor Fees	$	4,400	$	8,800	$	12,000	$	3,200	$	12,000	$	-	Based on 12 Meetings	
28	Financial & Administrative								
29	Administrative Services	$	2,675	$	5,351	$	5,351	$	-	$	5,512	$	161	COL - 3%	
30	District Management	$	10,739	$	21,477	$	21,477	$	-	$	22,122	$	645	COL - 3%	
31	District Engineer	$	4,186	$	8,372	$	20,000	$	11,628	$	50,000	$	30,000	Funds for Additional Studies	
32	Disclosure Report	$	8,000	$	8,000	$	8,000	$	-	$	8,000	$	-	Reflects 4 Bonds	
33	Trustees Fees	$	14,167	$	15,000	$	15,000	$	-	$	15,000	$	-		
34	Assessment Roll	$	5,792	$	5,792	$	5,792	$	-	$	5,966	$	174	COL - 3%	
35	Financial & Revenue Collections	$	2,758	$	5,516	$	5,516	$	-	$	5,682	$	166	COL - 3%	
36	Accounting Services	$	10,739	$	21,477	$	21,477	$	-	$	22,122	$	645	COL - 3%	
37	Auditing Services	$	-	$	4,100	$	4,100	$	-	$	4,100	$	-		
38	Arbitrage Rebate Calculation	$	-	$	1,800	$	1,800	$	-	$	1,800	$	-	Reflects 4 Bonds	
39	Public Officials Liability Insurance	$	2,200	$	2,200	$	2,550	$	350	$	2,550	$	-		
40	Legal Advertising	$	782	$	2,000	$	2,200	$	200	$	2,200	$	-		

	
Chart of Accounts Classification	Actual YTD through 03/30/24	
Projected Annual Totals 2023/2024	
Annual Budget for 2023/2024	Projected Budget variance for 2023/2024	
Budget for 2024/2025	Budget Increase (Decrease) vs 2023/2024	
Comments	
41	Dues, Licenses & Fees	$	175	$	175	$	175	$	-	$	175	$	-		
42	Miscellaneous Fees	$	484	$	968	$	1,200	$	232	$	1,200	$	-		
43	ADA Website Hosting, Maintenance & Backup	$	2,800	$	6,400	$	6,400	$	-	$	3,700	$	(2,700)	Per ADA Proposed Amendment	
44	Legal Counsel								
45	District Counsel	$	30,695	$	61,390	$	40,000	$	(21,390)	$	65,000	$	25,000	Increased Activity - New BOS in Nov	
46									
47	Administrative Subtotal	$	100,592	$	178,818	$	173,038	$	(5,780)	$	227,129	$	54,091		
48									
49	EXPENDITURES - FIELD OPERATIONS								
50									
51	Law Enforcement								

52	
Off -Duty Deputy / Security	
$	
10,113	
$	20,226	
$	35,000	
$	14,774	
$	
35,000	
$	-	Projections Include New Cameras (last yrs comment)	
53	Electric Utility Services								
54	Utility Services Meters	$	4,831	$	9,662	$	11,000	$	1,338	$	11,000	$	-		
55	Utility - Recreation Facilities	$	27,108	$	67,000	$	70,000	$	3,000	$	70,000	$	-	YTD	
56	Street Lights	$	24,790	$	49,580	$	50,000	$	420	$	50,000	$	-	YTD	
57	Gas Utility Services								
58	Utility Services	$	211	$	422	$	2,000	$	1,578	$	2,000	$	-		
59	Garbage/Solid Waste Control Services								

60	
Garbage - Recreation Facility	
$	
4,647	
$	9,294	
$	4,000	
$	(5,294)	
$	
8,500	
$	4,500	Per Revised Agreement - 2 Pick Ups/monthly	
61	Water-Sewer Combination Services								

62	
Utility Services - Recreational Facilities	
$	
5,843	
$	11,686	
$	18,375	
$	6,689	
$	
18,375	
$	-		
63	Utility - Reclaimed	$	110,628	$	350,000	$	400,000	$	50,000	$	550,000	$	150,000	Increase New Phase?	
64	Stormwater Control								

65	
Aquatic Maintenance	
$	
21,800	
$	42,674	
$	35,000	
$	(7,674)	
$	
45,000	
$	10,000	Continue to add ponds? $42K 39 Ponds & 6 Entry Fountain Cleanings	
66	Stormwater Assessment	$	-	$	-	$	4,000	$	4,000	$	4,000	$	-		
67	Stormwater System Maintenance	$	-	$	-	$	7,888	$	7,888	$	7,888	$	-		
68	Other Physical Environment								

69	
General Liability & Property Insurance	
$	
52,300	
$	86,143	
$	85,000	
$	(1,143)	
$	
95,000	
$	10,000	Based on Est. - Add More Property? Need to Finance?	
70	Entry & Walls Maintenance	$	670	$	1,500	$	4,500	$	3,000	$	4,500	$	-		

71	
Landscape & Irrigation Maintenance	
$	
210,868	
$	594,670	
$	600,000	
$	5,330	
$	
1,045,000	
$	445,000	Future Phases Still to Come - Phase 1 Under Bid?	
72	Mulch	$	35,484	$	101,404	$	101,404	$	-	$	125,000	$	23,596		
73	Irrigation Repairs	$	16,440	$	32,880	$	25,000	$	(7,880)	$	50,000	$	25,000	Increase for Necessary Reg. Maintenance	

	
Chart of Accounts Classification	Actual YTD through 03/30/24	
Projected Annual Totals 2023/2024	
Annual Budget for 2023/2024	Projected Budget variance for 2023/2024	
Budget for 2024/2025	Budget Increase (Decrease) vs 2023/2024	
Comments	

74	
Landscape Replacement Plants, Shrubs, Trees	
$	
25,799	
$	115,724	
$	40,000	
$	(75,724)	
$	
40,000	
$	-	Projections Include $75K Remediation/$14K Drainage Correction	
75	Holiday Decorations	$	16,495	$	16,495	$	15,000	$	(1,495)	$	20,000	$	5,000	Any additional areas for lights?	
76	Miscellaneous Expense	$	4,217	$	8,434	$	20,000	$	11,566	$	20,000	$	-		
77	Road & Street Facilities								
78	Amenity Lighting Repairs (Parking Lot & Decorative)	$	1,977	$	5,000	$	4,000	$	(1,000)	$	5,000	$	1,000		
79	Parks & Recreation				$	-				

80	
Amenity Management Contract	
$	
10,350	
$	20,700	
$	18,900	
$	(1,800)	
$	
21,648	
$	2,748	
Per Agreement & Mobile Reimbursements	

81	
Lifeguards Contract	
$	
8,882	
$	140,120	
$	140,120	
$	-	
$	
200,000	
$	59,880	Adding LG Hrs?/ Need New Multi-Year Rate Schedule	
82	Amenity Staffing Contract	$	262,520	$	525,040	$	687,000	$	161,960	$	850,000	$	163,000	Per Agreement	
83	Licenses, Fees & Permits	$	7,338	$	11,462	$	11,462	$	-	$	11,462	$	-		
84	Fitness Equipment Maintenance/Repairs	$	2,441	$	4,882	$	10,000	$	5,118	$	10,000	$	-	New PM? New Lease?	
85	Fitness Equipment Lease	$	-	$	-	$	-	$	-	$	30,000	$	30,000	New PM? New Lease?	
86	Pool Maintenance Contract	$	22,063	$	44,126	$	44,000	$	(126)	$	46,400	$	2,400	Per Agreements -Include Vac Pak	

87	

Amenity Maintenance & Repairs	

$	

32,847	

$	65,694	

$	60,508	

$	(5,186)	

$	

65,000	

$	4,492	Increase? Repairs include HVAC, Pool Equipment and Power washing of Amenity Buildings.	
88	Television, Phone, Internet & Tech Support	$	5,911	$	11,822	$	20,000	$	8,178	$	20,000	$	-		

89	
Amenity Janitorial Services Contract & Window Cleaning	
$	
9,188	
$	18,376	
$	20,000	
$	1,624	
$	
20,000	
$	-		
90	Pool Chemicals	$	27,604	$	55,208	$	51,000	$	(4,208)	$	57,000	$	6,000	Est. 3% Increase	
91	Pest Control & Termite Bond	$	1,383	$	2,766	$	3,000	$	234	$	3,000	$	-		
92	Wildlife Management Services	$	889	$	1,778	$	2,500	$	722	$	2,500	$	-	Rodent Agreements	
93	Security System Monitoring & Maintenance	$	4,328	$	8,656	$	4,000	$	(4,656)	$	4,000	$	-		
94	Access Control Maintenance & Repair	$	3,499	$	6,998	$	7,000	$	2	$	7,000	$	-		
95	Uniforms	$	61	$	122	$	2,000	$	1,878	$	2,000	$	-		

96	
General Supplies - Office & Janitorial	
$	
11,006	
$	22,012	
$	16,000	
$	(6,012)	
$	
25,000	
$	9,000	
Increase in Supplies - More Staff/Residents	
97	Tennis Court Maintenance & Supplies	$	3,893	$	7,786	$	9,000	$	1,214	$	9,000	$	-	YTD Average	
98	Tennis Center Management	$	-	$	-	$	-	$	-	$	24,000	$	24,000	New Line - Off Set by Revenue Line 11	
99	Café Materials	$	3,603	$	7,206	$	20,000	$	12,794	$	20,000	$	-	Based on Build Out Est.	
100	Dog Waste Station Supplies	$	605	$	1,210	$	1,000	$	(210)	$	1,000	$	-		
101	Community Gardens Maintenance & Supplies	$	-	$	500	$	1,000	$	500	$	1,000	$	-		
102	Special Events								

103	
Special Events	
$	
67,351	
$	67,351	
$	66,550	
$	(801)	
$	
66,550	
$	-		

	
Chart of Accounts Classification	Actual YTD through 03/30/24	
Projected Annual Totals 2023/2024	
Annual Budget for 2023/2024	Projected Budget variance for 2023/2024	
Budget for 2024/2025	Budget Increase (Decrease) vs 2023/2024	
Comments	

104	
Shuttle Service	
$	-	
$	6,600	
$	-	
$	(6,600)	
$	
45,000	
$	45,000	
New Line	
105	Contingency								
106	Capital Improvements	$	8,233	$	16,466	$	60,000	$	43,534	$	60,000	$	-		
107									
108	Field Operations Subtotal	$	1,068,216	$	2,569,675	$	2,787,207	$	217,532	$	3,807,823	$	1,020,616		
109									
110	TOTAL EXPENDITURES	$	1,168,808	$	2,748,493	$	2,960,245	$	211,752	$	4,034,952	$	1,074,707		
111									
112	EXCESS OF REVENUES OVER EXPENDITURES	$	1,491,066	$	183,609	$	-	$	183,609	$	-	$	-		
113									

	
Chart of Accounts Classification	Actual YTD through 03/30/24	Projected Annual Totals 2023/2024	
Annual Budget for 2023/2024	Projected Budget variance for 2023/2024	
Budget for 2024/2025	Budget Increase (Decrease) vs 2023/2024	
Comments	
1									
2	REVENUES								
3									
4	Special Assessments								
5	Tax Roll*	$	272,769	$	272,769	$	272,769	$	-	$	245,021	$	(27,748)	Per Reserve Study	
6	Off Roll*	$	28,531	$	28,531	$	28,531	$	-	$	62,305	$	33,774		
7									
8	TOTAL REVENUES	$	301,300	$	301,300	$	301,300	$	-	$	307,326	$	6,026		
9									
14	*Allocation of assessments between the Tax Roll and Off Roll are estimates only and subject to change prior to certification.		
15									
16	EXPENDITURES								
17									
18	Contingency								
19	Capital Outlay	$	24,600	$	24,600	$	301,300	$	276,700	$	307,326	$	6,026		
20									
21	TOTAL EXPENDITURES	$	24,600	$	24,600	$	301,300	$	276,700	$	307,326	$	6,026		
22									
23	EXCESS OF REVENUES OVER EXPENDITURES	
$	276,700	
$	276,700	
$	-	
$	276,700	
$	-	
$	0		
24									

	Trout Creek Community Development District Debt Service
Fiscal Year 2024/2025			6	

Chart of Accounts Classification	

Series 2015	Series 2018	

Series 2020	

Series 2022	

Budget for 2024/2025	
						
REVENUES						
Special Assessments						
Net Special Assessments (1)	$1,393,638.09	$820,602.45	$239,222.39	$217,410.25	$2,670,873.18	
						
TOTAL REVENUES	$1,393,638.09	$820,602.45	$239,222.39	$217,410.25	$2,670,873.18	

EXPENDITURES						
Administrative						
Debt Service Obligation	$1,393,638.09	$820,602.45	$239,222.39	$217,410.25	$2,670,873.18	
Administrative Subtotal	$1,393,638.09	$820,602.45	$239,222.39	$217,410.25	$2,670,873.18	
						
TOTAL EXPENDITURES	$1,393,638.09	$820,602.45	$239,222.39	$217,410.25	$2,670,873.18	
						
EXCESS OF REVENUES OVER EXPENDITURES	$0.00	$0.00	$0.00	$0.00	$0.00	

St. Johns County Collection Costs (2%) and Early Payment Discounts (4%):	6.0%	
GROSS ASSESSMENTS	$2,839,135.00	

Notes:

Tax Roll Collection Costs for St. Johns County are 6.0% of Tax Roll. Budgeted net of tax roll assessments. See Assessment Table.

(1) Maximum Annual Debt Service less Prepaid Assessments received.	

TROUT CREEK COMMUNITY DEVELOPMENT DISTRICT	7
FISCAL YEAR 2024/2025 O&M & DEBT SERVICE ASSESSMENT SCHEDULE

2024/2025 O&M Budget:		$4,208,308.00	2023/2024 O&M Budget:	$3,034,025.00	
St. Johns County Collection Costs:	2%	$89,538.47	2024/2025 O&M Budget:	$4,208,308.00	
Early Payment Discounts:	4%	$179,076.94			
2024/2025 Total:		$4,476,923.40	Total Difference:	$1,174,283.00	

			Per Unit Annual Assessment Comparison		Proposed Increase / Decrease	
Lot Size	Assessment Breakdown		2023/2024	2024/2025		$	%	
								
PLATTED								

Series 2015 Assessment Area								

Townhome	
Series 2015 Debt Service		
$879.50	
$879.50		
$0.00	
0.00%	
	Operations/Maintenance		$1,386.33	$1,567.93		$181.60	13.10%	
	Total		$2,265.83	$2,447.43		$181.60	8.01%	

Single Family 40'	
Series 2015 Debt Service		
$979.50	
$979.50		
$0.00	
0.00%	
	Operations/Maintenance		$1,420.68	$1,600.03		$179.35	12.62%	
	Total		$2,400.18	$2,579.53		$179.35	7.47%	

Single Family 50'	
Series 2015 Debt Service		
$1,079.50	
$1,079.50		
$0.00	
0.00%	
	Operations/Maintenance		$1,443.57	$1,621.42		$177.85	12.32%	
	Total		$2,523.07	$2,700.92		$177.85	7.05%	

Single Family 60'	
Series 2015 Debt Service		
$1,179.50	
$1,179.50		
$0.00	
0.00%	
	Operations/Maintenance		$1,466.46	$1,642.81		$176.35	12.03%	
	Total		$2,645.96	$2,822.31		$176.35	6.66%	

Single Family 70'	
Series 2015 Debt Service		
$1,279.50	
$1,279.50		
$0.00	
0.00%	
	Operations/Maintenance		$1,489.36	$1,664.21		$174.85	11.74%	
	Total		$2,768.86	$2,943.71		$174.85	6.31%	

Single Family 80'	
Series 2015 Debt Service		
$1,379.50	
$1,379.50		
$0.00	
0.00%	
	Operations/Maintenance		$1,512.25	$1,685.60		$173.35	11.46%	
	Total		$2,891.75	$3,065.10		$173.35	5.99%	

Series 2018 Assessment Area								

Series 2018 Debt Service
Townhome		

$879.50	

$879.50		

$0.00	

0.00%	
Operations/Maintenance		$1,386.33	$1,567.93		$181.60	13.10%	

Total		$2,265.83	$2,447.43		$181.60	8.01%	

Series 2018 Debt Service
Single Family 40'		
$979.50	
$979.50		
$0.00	
0.00%	
Operations/Maintenance		$1,420.68	$1,600.03		$179.35	12.62%	

Total		$2,400.18	$2,579.53		$179.35	7.47%	

Series 2018 Debt Service
Single Family 50'		
$1,079.50	
$1,079.50		
$0.00	
0.00%	
Operations/Maintenance		$1,443.57	$1,621.42		$177.85	12.32%	

Total		$2,523.07	$2,700.92		$177.85	7.05%	

Series 2018 Debt Service
Single Family 60'		
$1,179.50	
$1,179.50		
$0.00	
0.00%	
Operations/Maintenance		$1,466.46	$1,642.81		$176.35	12.03%	

Total		$2,645.96	$2,822.31		$176.35	6.66%	

Series 2018 Debt Service
Single Family 70'		
$1,279.50	
$1,279.50		
$0.00	
0.00%	
Operations/Maintenance		$1,489.36	$1,664.21		$174.85	11.74%	

Total		$2,768.86	$2,943.71		$174.85	6.31%	

TROUT CREEK COMMUNITY DEVELOPMENT DISTRICT	8
FISCAL YEAR 2024/2025 O&M & DEBT SERVICE ASSESSMENT SCHEDULE	

2024/2025 O&M Budget: St. Johns County Collection Costs: Early Payment Discounts:
2024/2025 Total:	
$4,208,308.00	2023/2024 O&M Budget:
2%	$89,538.47	2024/2025 O&M Budget:
4%	$179,076.94

$4,476,923.40	Total Difference:	
$3,034,025.00
$4,208,308.00

$1,174,283.00	

Per Unit Annual Assessment Comparison	Proposed Increase / Decrease
Lot Size	Assessment Breakdown
2023/2024	2024/2025	$	%

FUTURE 2024 PLATS

Series 2018 Assessment Area

Series 2018 Debt Service	$979.50	$979.50	$0.00	0.00%
Single Family 40'
Operations/Maintenance (1)	$66.17	$1,600.03	$1,533.86	2318.06%

Total	$1,045.67	$2,579.53	$1,533.86	146.69%

Series 2020 Assessment Area

Series 2020 Debt Service	$879.50	$879.50	$0.00	0.00%
Townhome (Direct Bill)
Operations/Maintenance (1)	$66.17	$1,567.93	$1,501.76	2269.55%

Total	$945.67	$2,447.43	$1,501.76	158.80%

Series 2020 Debt Service	$979.50	$979.50	$0.00	0.00%
Single Family 40' (Direct Bill)
Operations/Maintenance (1)	$66.17	$1,600.03	$1,533.86	2318.06%

Total	$1,045.67	$2,579.53	$1,533.86	146.69%

Series 2022 Assessment Area

Series 2022 Debt Service	$879.50	$879.50	$0.00	0.00%
Townhome (Direct Bill)
Operations/Maintenance (1)	$66.17	$1,567.93	$1,501.76	2269.55%

Total	$945.67	$2,447.43	$1,501.76	158.80%

Series 2022 Debt Service	$1,079.50	$1,079.50	$0.00	0.00%
Single Family 50' (Direct Bill)
Operations/Maintenance (1)	$66.17	$1,600.03	$1,533.86	2318.06%

Total	$1,145.67	$2,679.53	$1,533.86	133.88%

(1) Assessed as Platted starting in FY 2024-2025	

					

					

					

					

					

					

TROUT CREEK COMMUNITY DEVELOPMENT DISTRICT	9

FISCAL YEAR 2024/2025 O&M AND DEBT SERVICE ASSESSMENT SCHEDULE	
.

TOTAL O&M BUDGET	$4,208,308.00
COLLECTION COSTS @	2%	$89,538.47
EARLY PAYMENT DISCOUNT @	4%	$179,076.94

TOTAL O&M ASSESSMENT	$4,476,923.40	
	UNITS ASSESSED		ALLOCATION OF EQUALIZED COSTS	$4,213,212.77		ALLOCATION OF STRATIFIED COSTS	$263,710.64		PER LOT ANNUAL ASSESSMENT		
	SERIES 2015		SERIES 2018		SERIES 2020		SERIES 2022 LOT SIZE	O&M	DEBT SERVICE (1)	DEBT SERVICE (1)	DEBT SERVICE (1)	DEBT SERVICE (1)		TOTAL	% TOTAL	 TOTAL	EQUALIZED EAU FACTOR	EAU's		EAU's	BUDGET		PER LOT		TOTAL	% TOTAL	 TOTAL	STRATIFIED EAU FACTOR	EAU's		EAU's	BUDGET		PER LOT		
SERIES 2015	SERIES 2018	SERIES 2020	SERIES 2022
O&M	DEBT SERVICE (2)  DEBT SERVICE (2)  DEBT SERVICE (2)  DEBT SERVICE (2)	TOTAL (3)		
	
PLATTED

Series 2015 Assessment Area

Townhomes	243	242	0	0	0
Single Family 40'	288	282	0	0	0
Single Family 50'	410	396	0	0	0
Single Family 60'	231	226	0	0	0
Single Family 70'	185	163	0	0	0
Single Family 80'	69	65	0	0	0

Series 2018 Assessment Area

Townhomes	190	0	190	0	0
Single Family 40'	222	0	221	0	0
Single Family 50'	153	0	154	0	0
Single Family 60'	170	0	170	0	0
Single Family 70'	57	0	57	0	0

FUTURE 2024 PLATS (4)

Series 2018 Assessment Area

Single Family 40'	50	0	50	0	0

Series 2020 Assessment Area

Townhomes	288	0	0	288	0
Single Family 40'	1	0	0	1	0

Series 2022 Assessment Area
Townhomes	58	0	0	0	58
Single Family 50'	167	0	0	0	167
TOTAL COMMUNITY	2782	1374	842	289	225		

1.00	243.00	8.73%	$368,012.47	$1,514.45
1.00	288.00	10.35%	$436,162.93	$1,514.45
1.00	410.00	14.74%	$620,926.40	$1,514.45
1.00	231.00	8.30%	$349,839.02	$1,514.45
1.00	185.00	6.65%	$280,174.11	$1,514.45
1.00	69.00	2.48%	$104,497.37	$1,514.45

1.00	190.00	6.83%	$287,746.38	$1,514.45
1.00	222.00	7.98%	$336,208.93	$1,514.45
1.00	153.00	5.50%	$231,711.56	$1,514.45
1.00	170.00	6.11%	$257,457.29	$1,514.45
1.00	57.00	2.05%	$86,323.91	$1,514.45

1.00	50.00	1.80%	$75,722.73	$1,514.45

1.00	288.00	10.35%	$436,162.93	$1,514.45
1.00	1.00	0.04%	$1,514.45	$1,514.45

1.00	58.00	2.08%	$87,838.37	$1,514.45
1.00	167.00	6.00%	$252,913.92	$1,514.45

2782.00	100%	$4,213,212.77		

0.50	121.50	4.93%	$12,996.73	$53.48
0.80	230.40	9.35%	$24,645.65	$85.58
1.00	410.00	16.63%	$43,857.28	$106.97
1.20	277.20	11.24%	$29,651.80	$128.36
1.40	259.00	10.51%	$27,704.97	$149.76
1.60	110.40	4.48%	$11,809.38	$171.15

0.50	95.00	3.85%	$10,162.05	$53.48
0.80	177.60	7.20%	$18,997.69	$85.58
1.00	153.00	6.21%	$16,366.25	$106.97
1.20	204.00	8.27%	$21,821.67	$128.36
1.40	79.80	3.24%	$8,536.12	$149.76

0.80	40.00	1.62%	$4,278.76	$85.58

0.50	144.00	5.84%	$15,403.53	$53.48
0.80	0.80	0.03%	$85.58	$85.58

0.50	29.00	1.18%	$3,102.10	$53.48
0.80	133.60	5.42%	$14,291.06	$85.58

2465.30	100%	$263,710.64		

$1,567.93	$879.50	$0.00	$0.00	$0.00	$2,447.43
$1,600.03	$979.50	$0.00	$0.00	$0.00	$2,579.53
$1,621.42	$1,079.50	$0.00	$0.00	$0.00	$2,700.92
$1,642.81	$1,179.50	$0.00	$0.00	$0.00	$2,822.31
$1,664.21	$1,279.50	$0.00	$0.00	$0.00	$2,943.71
$1,685.60	$1,379.50	$0.00	$0.00	$0.00	$3,065.10

$1,567.93	$0.00	$879.50	$0.00	$0.00	$2,447.43
$1,600.03	$0.00	$979.50	$0.00	$0.00	$2,579.53
$1,621.42	$0.00	$1,079.50	$0.00	$0.00	$2,700.92
$1,642.81	$0.00	$1,179.50	$0.00	$0.00	$2,822.31
$1,664.21	$0.00	$1,279.50	$0.00	$0.00	$2,943.71

$1,600.03	$0.00	$979.50	$0.00	$0.00	$2,579.53

$1,567.93	$0.00	$0.00	$879.50	$0.00	$2,447.43
$1,600.03	$0.00	$0.00	$979.50	$0.00	$2,579.53

$1,567.93	$0.00	$0.00	$0.00	$879.50	$2,447.43
$1,600.03	$0.00	$0.00	$0.00	$1,079.50	$2,679.53		

LESS: St. John's County Collection Costs (2%) and Early Payment Discounts (4%):	($252,792.77)	($15,822.64)

Net Revenue to be Collected:	$3,960,420.00	$247,888.00	

(1) Reflects the number of total lots with Series 2015, Series 2018, Series 2020 and Series 2022 debt outstanding, including fifty-two (52) Series 2015 Prepayments.

(2) Annual debt service assessment per lot adopted in connection with the Series 2015, Series 2018, Series 2020, and Series 2022 bond issues. Annual assessment includes principal, interest, St. John's County collection costs and early payment discount costs.

(3) Annual assessment that will appear on November 2024 St. John's County property tax bill. Amount shown includes all applicable collection costs. Property owner is eligible for a discount of up to 4% if paid early.

(4) Lots platted prior to January 1st, 2024 are eligible for collection via the property tax bill. Any lots platted after January 1st, 2024 will be direct billed. The District is anticipating being fully platted by the end of 2024.	

 GENERAL FUND BUDGET
ACCOUNT CATEGORY DESCRIPTION
The General Fund Budget Account Category Descriptions are subject to change at any time depending on its application to the District. Please note, not all General Fund Budget Account Category Descriptions are applicable to the District indicated above. Uses of the descriptions contained herein are intended for general reference.

REVENUES:

Interest Earnings: The District may earn interest on its monies in the various operating accounts.

Tax Roll: The District levies Non-Ad Valorem Special Assessments on all of the assessable property within the District to pay for operating expenditures incurred during the Fiscal Year. The assessments may be collected in two ways. The first is by placing them on the County’s Tax Roll, to be collected with the County’s Annual Property Tax Billing. This method is only available to land properly platted within the time limits prescribed by the County.
Off Roll: For lands not on the tax roll and that is by way of a direct bill from the District to the appropriate property owner.
Developer Contributions: The District may enter into a funding agreement and receive certain prescribed dollars from the Developer to off-set expenditures of the District.

Event Rental: The District may receive monies for event rentals for such things as weddings, birthday parties, etc.
Miscellaneous Revenues: The District may receive monies for the sale or provision of electronic access cards, entry decals etc.
Facilities Rentals: The District may receive monies for the rental of certain facilities by outside sources, for such items as office space, snack bar/restaurants etc.

EXPENDITURES – ADMINISTRATIVE:

Supervisor Fees: The District may compensate its supervisors within the appropriate statutory limits of
$200.00 maximum per meeting within an annual cap of $4,800.00 per supervisor.

Administrative Services: The District will incur expenditures for the day to today operation of District matters. These services include support for the District Management function, recording and preparation of meeting minutes, records retention and maintenance in accordance with Chapter 119, Florida Statutes, and

the District’s adopted Rules of Procedure, preparation and delivery of agenda, overnight deliveries, facsimiles and phone calls.
District Management: The District as required by statute, will contract with a firm to provide for management and administration of the District’s day to day needs. These service include the conducting of board meetings, workshops, overall administration of District functions, all required state and local filings, preparation of annual budget, purchasing, risk management, preparing various resolutions and all other secretarial duties requested by the District throughout the year is also reflected in this amount.
District Engineer: The District’s engineer provides general engineering services to the District. Among these services are attendance at and preparation for monthly board meetings, review of construction invoices and all other engineering services requested by the district throughout the year.

Disclosure Report: The District is required to file quarterly and annual disclosure reports, as required in the District’s Trust Indenture, with the specified repositories. This is contracted out to a third party in compliance with the Trust Indenture.
Trustee’s Fees: The District will incur annual trustee’s fees upon the issuance of bonds for the oversight of the various accounts relating to the bond issues.

Assessment Roll: The District will contract with a firm to prepare, maintain and certify the assessment roll(s) and annually levy a non-ad valorem assessment for operating and debt service expenses.
Financial & Revenue Collections: Services of the Collection Agent include all functions necessary for the timely billing and collection and reporting of District assessments in order to ensure adequate funds to meet the District’s debt service and operations and maintenance obligations. The Collection Agent also maintains and updates the District’s lien book(s) annually and provides for the release of liens on property after the full collection of bond debt levied on particular properties.
Accounting Services: Services include the preparation and delivery of the District’s financial statements in accordance with Governmental Accounting Standards, accounts payable and accounts receivable functions, asset tracking, investment tracking, capital program administration and requisition processing, filing of annual reports required by the State of Florida and monitoring of trust account activity.
Auditing Services: The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting firm, once it reaches certain revenue and expenditure levels, or has issued bonds and incurred debt.

Arbitrage Rebate Calculation: The District is required to calculate the interest earned from bond proceeds each year pursuant to the Internal Revenue Code of 1986. The Rebate Analyst is required to verify that the District has not received earnings higher than the yield of the bonds.

Travel: Each Board Supervisor and the District Staff are entitled to reimbursement for travel expenses per Florida Statutes 190.006(8).

Public Officials Liability Insurance: The District will incur expenditures for public officials’ liability insurance for the Board and Staff.
Legal Advertising: The District will incur expenditures related to legal advertising. The items for which the District will advertise include, but are not limited to meeting schedules, special meeting notices, and public hearings, bidding etc. for the District based on statutory guidelines
Bank Fees: The District will incur bank service charges during the year.

Dues, Licenses & Fees: The District is required to pay an annual fee to the Department of Economic Opportunity, along with other items which may require licenses or permits, etc.
Miscellaneous Fees: The District could incur miscellaneous throughout the year, which may not fit into any standard categories.

Website Hosting, Maintenance and Email: The District may incur fees as they relate to the development and ongoing maintenance of its own website along with possible email services if requested.
District Counsel: The District’s legal counsel provides general legal services to the District. Among these services are attendance at and preparation for monthly board meetings, review of operating and maintenance contracts and all other legal services requested by the district throughout the year.

EXPENDITURES - FIELD OPERATIONS:

Deputy Services: The District may wish to contract with the local police agency to provide security for the District.
Security Services and Patrols: The District may wish to contract with a private company to provide security for the District.
Electric Utility Services: The District will incur electric utility expenditures for general purposes such as irrigation timers, lift station pumps, fountains, etc.

Street Lights: The District may have expenditures relating to street lights throughout the community. These may be restricted to main arterial roads or in some cases to all street lights within the District’s boundaries.

Utility - Recreation Facility: The District may budget separately for its recreation and or amenity electric separately.

Gas Utility Services: The District may incur gas utility expenditures related to district operations at its facilities such as pool heat etc.

Garbage - Recreation Facility: The District will incur expenditures related to the removal of garbage and solid waste.

Solid Waste Assessment Fee: The District may have an assessment levied by another local government for solid waste, etc.
Water-Sewer Utility Services: The District will incur water/sewer utility expenditures related to district operations.
Utility - Reclaimed: The District may incur expenses related to the use of reclaimed water for irrigation.

Aquatic Maintenance: Expenses related to the care and maintenance of the lakes and ponds for the control of nuisance plant and algae species.
Fountain Service Repairs & Maintenance: The District may incur expenses related to maintaining the fountains within throughout the Parks & Recreational areas
Lake/Pond Bank Maintenance: The District may incur expenditures to maintain lake banks, etc. for the ponds and lakes within the District’s boundaries, along with planting of beneficial aquatic plants, stocking of fish, mowing and landscaping of the banks as the District determines necessary.

Wetland Monitoring & Maintenance: The District may be required to provide for certain types of monitoring and maintenance activities for various wetlands and waterways by other governmental entities.
Mitigation Area Monitoring & Maintenance: The District may be required to provide for certain types of monitoring and maintenance activities for various mitigation areas by other governmental entities.
Aquatic Plant Replacement: The expenses related to replacing beneficial aquatic plants, which may or may not have been required by other governmental entities.

General Liability Insurance: The District will incur fees to insure items owned by the District for its general liability needs
Property Insurance: The District will incur fees to insure items owned by the District for its property needs

Entry and Walls Maintenance: The District will incur expenditures to maintain the entry monuments and the fencing.
Landscape Maintenance: The District will incur expenditures to maintain the rights-of-way, median strips, recreational facilities including pond banks, entryways, and similar planting areas within the District. These services include but are not limited to monthly landscape maintenance, fertilizer, pesticides, annuals, mulch, and irrigation repairs.
Irrigation Maintenance: The District will incur expenditures related to the maintenance of the irrigation systems.
Irrigation Repairs: The District will incur expenditures related to repairs of the irrigation systems.

Landscape Replacement: Expenditures related to replacement of turf, trees, shrubs etc.

Field Services: The District may contract for field management services to provide landscape maintenance oversight.

Miscellaneous Fees: The District may incur miscellaneous expenses that do not readily fit into defined categories in field operations.
Gate Phone: The District will incur telephone expenses if the District has gates that are to be opened and closed.
Street/Parking Lot Sweeping: The District may incur expenses related to street sweeping for roadways it owns or are owned by another governmental entity, for which it elects to maintain.
Gate Facility Maintenance: Expenses related to the ongoing repairs and maintenance of gates owned by the District if any.
Sidewalk Repair & Maintenance: Expenses related to sidewalks located in the right of way of streets the District may own if any.

Roadway Repair & Maintenance: Expenses related to the repair and maintenance of roadways owned by the District if any.
Employees - Salaries: The District may incur expenses for employees/staff members needed for the recreational facilities such as Clubhouse Staff.
Employees - P/R Taxes: This is the employer’s portion of employment taxes such as FICA etc.

Employee - Workers’ Comp: Fees related to obtaining workers compensation insurance.

Management Contract: The District may contract with a firm to provide for the oversight of its recreation facilities.
Maintenance & Repair: The District may incur expenses to maintain its recreation facilities.

Facility Supplies: The District may have facilities that required various supplies to operate.

Gate Maintenance & Repairs: Any ongoing gate repairs and maintenance would be included in this line item.
Telephone, Fax, Internet: The District may incur telephone, fax and internet expenses related to the recreational facilities.
Office Supplies: The District may have an office in its facilities which require various office related supplies.

Clubhouse - Facility Janitorial Service: Expenses related to the cleaning of the facility and related supplies.
Pool Service Contract: Expenses related to the maintenance of swimming pools and other water features.

Pool Repairs: Expenses related to the repair of swimming pools and other water features.

Security System Monitoring & Maintenance: The District may wish to install a security system for the clubhouse
Clubhouse Miscellaneous Expense: Expenses which may not fit into a defined category in this section of the budget
Athletic/Park Court/Field Repairs: Expense related to any facilities such as tennis, basketball etc.

Trail/Bike Path Maintenance: Expenses related to various types of trail or pathway systems the District may own, from hard surface to natural surfaces.
Special Events: Expenses related to functions such as holiday events for the public enjoyment

Miscellaneous Fees: Monies collected and allocated for fees that the District could incur throughout the year, which may not fit into any standard categories.
Miscellaneous Contingency: Monies collected and allocated for expenses that the District could incur throughout the year, which may not fit into any standard categories.

Capital Outlay: Monies collected and allocated for various projects as they relate to public improvements.

RESERVE FUND BUDGET ACCOUNT CATEGORY DESCRIPTION
The Reserve Fund Budget Account Category Descriptions are subject to change at any time depending on its application to the District. Please note, not all Reserve Fund Budget Account Category Descriptions are applicable to the District indicated above. Uses of the descriptions contained herein are intended for general reference.

REVENUES:

Tax Roll: The District levies Non-Ad Valorem Special Assessments on all of the assessable property within the District to pay for operating expenditures incurred during the Fiscal Year. The assessments may be collected in two ways. The first is by placing them on the County’s Tax Roll, to be collected with the County’s Annual Property Tax Billing. This method is only available to land properly platted within the time limits prescribed by the County.

Off Roll: For lands not on the tax roll and that is by way of a direct bill from the District to the appropriate property owner.

Developer Contributions: The District may enter into a funding agreement and receive certain prescribed dollars from the Developer to off-set expenditures of the District.

Miscellaneous Revenues: The District may receive monies for the sale or provision of electronic access cards, entry decals etc.

EXPENDITURES:

Capital Reserve: Monies collected and allocated for the future repair and replacement of various capital improvements such as club facilities, swimming pools, athletic courts, roads, etc.

Capital Outlay: Monies collected and allocated for various projects as they relate to public improvements.

DEBT SERVICE FUND BUDGET ACCOUNT CATEGORY DESCRIPTION
The Debt Service Fund Budget Account Category Descriptions are subject to change at any time depending on its application to the District. Please note, not all Debt Service Fund Budget Account Category Descriptions are applicable to the District indicated above. Uses of the descriptions contained herein are intended for general reference.

REVENUES:

Special Assessments: The District may levy special assessments to repay the debt incurred by the sale of bonds to raise working capital for certain public improvements. The assessments may be collected in the same fashion as described in the Operations and Maintenance Assessments.

EXPENDITURES – ADMINISTRATIVE:

Bank Fees: The District may incur bank service charges during the year.
Debt Service Obligation: This would a combination of the principal and interest payment to satisfy the annual repayment of the bond issue debt.