Meadow View at Twin Creeks
Community Development District Adopted Budget

FY2025

August 8, 2024
Presented by:

Table of Contents

1-3

4-8

9-10

11-12

13-14

15-17

18-19

20-21

	General Fund

	Narratives

	Debt Service Fund Series 2016

	Debt Service Fund Series 2018

	Debt Service Fund Series 2019

	Debt Service Fund Series 2020

	Debt Service Fund Series 2021 Phase 3

	Debt Service Fund Series 2021 Phase 4

22		Assessment Schedule

Description

Adopted Budget
FY2024

Actuals Thru
6/30/24

Projected Next
3 Months

Projected Thru
9/30/24

Adopted Budget
FY 2025

REVENUES:		
Special Assessments - On Roll	$1,547,896	$1,557,613	$-	$1,557,613	$2,144,757	
Special Assessments - Gate Monitoring*	25,888	25,888	-	25,888	32,500	
Assessments - Direct Bill	392,205	294,799	97,407	392,205	-	
Interest/Miscelleaneous Income	9,000	39,384	13,500	52,884	25,000	
Restricted - Easement Fence Fund	-	18,300	3,000	21,300	-	
Facility Revenue	10,000	11,993	3,000	14,993	10,000	
Carry Forward Surplus	-	-	-	-	-	
TOTAL REVENUES	$1,984,989	$1,947,977	$116,907	$2,064,883	$2,212,257	

EXPENDITURES:						
Administrative						
Supervisor Fees	$4,800	$2,800	$1,200	$4,000	$4,800	
FICA Taxes	367	214	92	306	367	
Engineering	36,000	16,290	14,468	30,758	36,000	
Attorney	30,000	8,526	17,447	25,973	30,000	
Annual Audit	6,750	7,500	-	7,500	7,600	
Assessment Administration	10,600	10,600	-	10,600	11,236	
Arbitrage Rebate	3,600	3,600	-	3,600	3,600	
Dissemination Agent	13,250	9,938	3,312	13,250	14,045	
Trustee Fees	16,733	20,325	-	20,325	20,400	
Management Fees	55,220	41,415	13,805	55,220	58,533	
Information Technology	1,675	1,256	419	1,675	1,776	
Website Maintenance	1,200	900	300	1,200	1,272	
Telephone	700	391	309	700	700	
Postage & Delivery	1,600	882	718	1,600	1,600	
Insurance General Liability	8,673	8,161	-	8,161	8,977	
Printing & Binding	2,300	482	1,423	1,905	2,300	
Legal Advertising	1,500	737	763	1,500	1,500	
Other Current Charges	1,600	800	800	1,600	1,600	
Office Supplies	300	5	5	10	300	
Dues, Licenses & Subscriptions	175	175	-	175	175	
TOTAL ADMINISTRATIVE	$197,043	$134,997	$55,061	$190,059	$206,781	

Description

Adopted Budget
FY2024

Actuals Thru
6/30/24

Projected Next
3 Months

Projected Thru
9/30/24

Adopted Budget
FY 2025

Operations & Maintenance		
Amenity Center		
Utilities		
Telephone/Cable/Internet	$12,400	$9,201	$3,150	$12,352	$13,326	
Electric	52,500	32,140	14,360	46,500	52,500	
Water/Irrigation	31,240	66,645	13,950	80,595	45,000	
Gas	2,500	1,411	1,089	2,500	2,500	
Trash Removal	8,400	6,077	2,323	8,400	8,400	
Security
Security Monitoring	
1,440	
888	
444	
1,331	
1,440	
Gate Monitoring	22,888	22,381	7,850	30,230	32,500	
Gate Repairs	3,000	475	1,000	1,475	3,000	
Access Cards	3,000	2,789	-	2,789	3,000	
Contracted Security	20,000	16,351	9,000	25,351	20,000	
Management Contracts						
Facility Management	85,851	64,388	21,462	85,851	98,729	
Facility Attendant	39,149	22,687	16,462	39,149	41,498	
Pool Attendants	55,890	25,110	30,780	55,890	61,479	
Canoe Launch Attendant	30,750	100	400	500	5,750	
Snack Bar Attendant	17,640	-	-	-	10,000	
Field Management / Admin	65,000	48,750	16,250	65,000	95,000	
Pool Maintenance	20,000	14,395	4,089	18,483	20,000	
Pool Chemicals	20,467	18,474	6,304	24,778	26,475	
Janitorial	33,010	16,775	3,903	20,678	25,112	
Facility Maintenance	83,200	85,762	15,192	100,954	103,200	
Private Event Attendant	5,500	6,086	2,100	8,186	6,500	
Repairs & Maintenance	40,000	37,786	9,364	47,150	62,800	
New Capital Projects	10,000	-	-	-	5,000	
Snack Bar Inventory- CGS	1,000	49	-	49	1,000	
Food Service License	650	242	250	492	650	
Subscriptions	5,500	2,412	882	3,294	4,000	
Pest Control	2,831	1,789	678	2,467	2,831	
Supplies	2,500	1,007	1,493	2,500	2,500	
Towel/Linen Service	2,800	-	-	-	-	
Furniture, Fixtures & Equipment	5,000	3,984	1,016	5,000	5,000	
Special Events	35,000	23,163	11,837	35,000	35,000	
Holiday Decorations	20,000	20,102	-	20,102	20,000	
Fitness Center Repairs/Supplies	5,500	4,234	1,266	5,500	5,500	
Office Supplies	2,100	953	1,147	2,100	2,050	
ASCAP/BMI Licenses	800	-	-	-	800	
Property Insurance	72,545	66,983	-	66,983	84,668	
Permit and License	575	883	-	883	850	
TOTAL AMENITY CENTER	$820,626	$624,471	$198,040	$822,511	$908,057	

Description

Adopted Budget
FY2024

Actuals Thru
6/30/24

Projected Next
3 Months

Projected Thru
9/30/24

Adopted Budget
FY 2025

Grounds Maintenance		
Hydrology Quality/Mitigation	$6,400	$-	$-	$-	$6,400	
Electric	34,265	23,252	8,400	31,652	36,321	
Landscape Maintenance	646,800	390,875	141,375	532,250	690,755	
Landscape Contingency	85,000	33,859	51,141	85,000	85,000	
Lake Maintenance	27,000	16,437	6,852	23,290	27,000	
Grounds Maintenance	12,000	15,003	3,286	18,289	35,000	
Pump Repairs	5,000	24,869	-	24,869	10,000	
Streetlighting	58,207	51,126	16,500	67,626	69,294	
Streetlight Repairs	5,000	3,000	-	3,000	5,000	
Irrigation Repairs	50,000	33,293	11,707	45,000	50,000	
Miscellaneous	6,500	4,040	2,460	6,500	6,500	
Contingency	31,149	19,525	11,623	31,149	31,149	
Capital Reserves	-	-	-	-	45,000	
TOTAL GROUNDS MAINTENANCE	$967,320	$615,279	$253,345	$868,624	$1,097,418	
						
TOTAL EXPENDITURES	$1,984,989	$1,374,747	$506,446	$1,881,194	$2,212,257	

Other Sources/(Uses)						
Interlocal Transfer In/(Out)	$-	$19,401	$-	$19,401	$45,000	
TOTAL OTHER SOURCES/(USES)	$0	$19,401	$0	$19,401	$45,000	
						
EXCESS REVENUES (EXPENDITURES)	$0	$592,631	($389,540)	$203,091	$0	

*Special Assessments for Gate Monitoring included in Tax Roll Assessments collection.

REVENUES

Special Assessments-Tax Roll
The District will levy a Non-Ad Valorem assessment on all sold and platted parcels within the District in order to pay for the operating expenditures during the Fiscal Year.
Special Assessments-Gate Monitoring
The District will levy a non ad-valorem special assessment to owners of 73’ Premium lots for the cost incurred for gate monitoring used for the fiscal year and will be included in the tax roll collection.
Interest/Miscellaneous Income
The District will have all excess funds invested with the US Bank Corporate Trust Services. Interest amount is based upon the estimated average balance of funds available during the fiscal year. Miscellaneous Income is any other deposit for the District.
Restricted-Easement Fence Fund
Fees received from residents to install fences within District easements located on residents’ lots.

Facility Revenue
Income received from residents for rental of clubroom and purchase of access cards.

Expenditures - Administrative

Supervisors Fees
Chapter 190 of the Florida Statutes allows for members of the Board of Supervisors to be compensated
$200 per meeting in which they attend. The budgeted amount for the fiscal year is based on all supervisors attending 4 meetings.
FICA Taxes
Payroll taxes on Board of Supervisor’s compensation. The budgeted amount for the fiscal year is calculated at 7.65% of the total Board of Supervisor’s payroll expenditures.
Engineering
The District's engineer will provide general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review of invoices, and other specifically requested assignments.
Attorney
The District’s Attorney, will be providing general legal services to the District, i.e., attendance and preparation for monthly Board meetings, review of contracts, review of agreements and resolutions, and other research assigned as directed by the Board of Supervisors and the District Manager.
Annual Audit
The District is required to conduct an annual audit of its financial records by an Independent Certified Public Accounting Firm. The budgeted amount for the fiscal year is based on contracted fees from the previous year engagement plus anticipated increase.
Arbitrage
The District is required to annually have an arbitrage rebate calculation on the District’s Series 2016 A-1/A-2, 2016 B, 2018A-1/A-2, 2019 A-1/A-2, 2020 A1, A2, A3, 2021 Phase 3B and 2021 Phase 4 Special Assessment Bonds. The District is contracted with Grau and Associates, an independent certified public accounting firm, to calculate the rebate liability and submit a report to the District.

Assessment Roll Administration
GMS, LLC provides assessment services for closing lot sales, assessment roll services with the local Tax Collector and financial advisory services.
Dissemination Agent
The District is required by the Security and Exchange Commission to comply with Rule 15(c)(2)-12(b)(5), which relates to additional reporting requirements for un-rated bond issues.
Contract	Monthly	Annual	
GMS	$1,170	$14,045	
Trustee Fees
The District’s Series 2016 A-1/A-2, 2016 B, 2018A-1/A-2, 2019 A-1/A-2, 2020A1-A3, 2021 Phase 3B. and 2021 Phase 4 Special Assessment Bonds are held by a Trustee with US Bank. The amount represents the fee for the administration of the District’s bond issue.

Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-South Florida, LLC. The budgeted amount for the fiscal year is based on the contracted fees outlined in Exhibit "A" of the Management Agreement.

Expenditures - Administrative (continued)

Information Technology
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 Florida, LLC.
Website Maintenance
Per Chapter 2014-22, Laws of Florida, all Districts must have a website to provide detailed information on the CDD as well as links to useful websites regarding Compliance issues. This website will be maintained by GMS, LLC and updated monthly.
Telephone
Internet and Wi-Fi service for Office.
Postage and Delivery
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.
Insurance General Liability
The District's General Liability & Public Officials Liability Insurance policy is with a qualified entity that specializes in providing insurance coverage to governmental agencies. The amount is based upon estimated premium.
Printing and Binding
Copies used in the preparation of agenda packages, required mailings, and other special projects.
Legal Advertising
The District is required to advertise various notices for monthly Board meetings and other public hearings in a newspaper of general circulation.
Other Current Charges
Bank charges, amortization schedules, and any other miscellaneous expenses incurred during the year.
Office Supplies
Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects.
Due, Licenses & Subscriptions
The District is required to pay an annual fee to the Florida Department of Commerce for $175.

Expenditures – Amenity Center

Telephone/Cable/Internet
The District will provide phone, internet & cable television services for the Amenity Center.
Contract	Monthly	Annual	
Comcast	$897	$10,764	
AT&T (2 accounts)	$155	$1,862	
Contingency		$58	$700 	
Total	$1,110	$13,326	
Electric
The cost of electric associated with the Recreation Facility provided by FPL.
Account #	Location	Monthly	Annual	
67216-50049	850 Beacon Lake Prkwy	$3,875	$46,500	
	Contingency	$500	$6,000	
	Total	$4,375	$52,500	
Water/Irrigation
Water, sewer and irrigation systems cost for the district provided by St Johns County Utility Department.
Account #	Location	Monthly	Annual	
567190-135186	840&850 Beacon Lk Pkwy	$1,815	$21,780	
567190-138495	205 Concave Ln	$110	$1,320	
567190-141222	744 Windmere Way Irr	$19	$228	
567190-141243	255 Stamberg Ct Park	$369	$4,428	
567190-145674	35 Loosestrife Way	$50	$594	
567190-148759	234 Twilight Ln	$110	$1,320	
567190-148757	148 Heron Oaks Dr	$500	$6,000	
567190-148758	19 Twilight Ln	$20	$240	
	Contingency	$758	$9,090	
	Total	$3,750	$45,000	

Gas
The District has contracted with TECO and Florida Natural Gas to provide propane delivery for amenity center use.
Trash Removal
Estimated cost of garbage disposal service will be provided by Republic Services for the District.
Security Monitoring
The District contracted with Atlantic Companies for security monitoring for the Amenity Center.
Contract		Monthly	Annual Atlantic Companies				$111		$1,332 Contingency					$9			$108  Total			$120	$1,440
Gate Monitoring
The District contracted with Hidden Eyes LLC dba Envera for gate monitoring for the community.
Contract	Monthly	Annual	
Envera	$2,569	$30,822	
Contingency	$140	$1,678	
Total	$2,708	$32,500	

Gate Repairs
Estimated cost for repairs of gate.
Access Cards
Represents the estimated cost for access cards purchased by the District’s Amenity Center.
Contracted Security
Represents the annual cost for private security services.
Facility Management
The Districted contracted with Riverside Management Services to provide management services for the Amenity Center.
Contract	Monthly	Annual
Riverside Mgmt Services	$8,227	$98,729
Facility Assistant
Services provided by Riverside Management Services, Inc. to provide part time staffing of amenity center.
Contract	Monthly	Annual
Riverside Mgmt Services	$3,458	$41,498
Pool Attendants
The District has contracted with Riverside Management Services, Inc. to provide pool lifeguards/or pool attendants during the operating season for the pool.
Canoe Launch Attendant
The District has contracted with Riverside Management Services, Inc. to provide canoe launch attendants during the operating season.
Snack Bar Attendant
The District has contracted with Riverside Management Services, Inc. to provide snack bar attendants during the operating season.
Field Management and Admin
The District contracted Riverside Management Services, Inc. for onsite field management of contracts for District Services such as landscaping, amenity & pool facilities, lake maintenance, etc.
Contract	Monthly	Annual
Riverside Mgmt Services	$7,917	$95,000
Pool Maintenance
The estimated amount based on proposed contract with Riverside Management Services, Inc. to provide maintenance of the Amenity Center swimming pool.
Contract	Monthly	Annual	
Big Z Pool	$1,363	$17,174	
Contingency	$304	$2,826	
Total	$1,667	$20,000	
Pool Chemicals
The estimated amount based on proposed contract with Big Z Pool to provide chemicals to maintain the Amenity Center swimming pool.

Janitorial
The estimated amount based on proposed contract with Riverside Management Services, Inc. to provide janitorial services for the Amenity Center which includes the purchase of janitorial supplies such as paper towels, soap, garbage bags and cleaning supplies.
Contract	Monthly	Annual	
High Tech Commercial Cleaning	$1,301	$15,612	
Deep Cleaning	$208	$2,500	
Janitorial Supplies	$583	$7,000	
Total	$2,093	$25,112	
Facility Maintenance
The estimated amount based on proposed contract with vendors to provide routine repairs and maintenance for the Amenity Center.
Private Event Attendant
The estimated amount for service to cover cost of attendant at private parties.
Repair & Maintenance
Regular maintenance and replacement cost incurred by the Amenity Center of the District.
New Capital Projects
The District will establish a fund for the renewal and replacement of District’s capital related facilities.
Snack Bar Inventory – CGS
Represents the estimated cost to purchase inventory for food or beverages in the event the District operates the snack bar.
Food Service License
Represents estimated annual cost to obtain licenses and permits to operate the snack bar and gourmet kitchen
Subscriptions
All annual subscriptions to include Wellbeats, computer software, Constant Contact, Prime subscriptions etc.
Pest Control
The District will contract for pest control services for amenity center.
Supplies
Represents the District expenses for amenity supplies purchased for the amenity center.
Furniture, Fixtures & Equipment
Represents the District expenses for furniture, fixtures and equipment for the amenity center.
Special Events
Represents estimated costs for the District to host special events for the community throughout the Fiscal Year.
Holiday Decorations
Represents estimated costs for the District to decorate the amenity center throughout the Fiscal Year.
Fitness Center Repairs/Supplies
Represents estimated costs for the Fitness Center repairs of equipment, purchase of supplies, and preventative maintenance contract.
Office Supplies
Represents estimated cost for office supplies for the Amenity Center.
ASCAP/BMI Licenses
License fee required to broadcast music to the amenity center.
Property Insurance
The District's Property insurance policy is with Florida Insurance Alliance. FIA specializes in providing insurance coverage to governmental agencies. The amount budgeted represents the estimated premium for property insurance related to the Amenity Center.

Permit and License
Cost of pool permit renewals with Florida Department of Health.

Budget Narrative
Fiscal Year 2025

Expenditures – Grounds Maintenance

Hydrology Quality/Mitigation
Cost to preserve beneficial aquatic plants in the wetland mitigation area and control nuisance and exotic pest plant populations.
Electric
Electric cost billed to district by FPL for common area electric.
Account #	Location	Monthly	Annual	
51650-60509	45 Beacon Lake Pkwy # Pump	$84	$1,008	
17096-40500	44 Beacon Lake Pkwy # Pump	$628	$7,536	
08979-60506	333 Beacon Lake Pkwy # Pump	$176	$2,112	
70640-86478	550 Beacon Lake Pkwy #FNTN	$684	$8,208	
24276-26128	595 Convex Lane Lighting	$28	$336	
05494-57141	246 Beacon Lake Pkwy #STOP	$28	$336	
52485-29017	129 Charlie Way #Well	$135	$1,620	
45848-73154	136 Charlie Way #Well	$250	$3,000	
60307-71510	35 Loosestrife Way #IRR	$215	$2,580	
98273-97077	1624 Beacon Lake Pkwy	$42	$504	
31743-08423	18 Charlie Way	$35	$420	
07823-65365	21 Lomond Ct #SIGN	$30	$360	
66553-45301	35 Loosestrife Way #Clubhse	$320	$3,840	
	Contingency	$372	$4,461	
	Total	$3,027	$36,321	
Landscape Maintenance
Cost to maintain the common areas and amenity center of the District and is contracted with Yellowstone Landscape.
Contract	Monthly	Annual	
Landscape Maintenance	$43,646	$523,755	
Mulching	$8,021	$96,250	
Phase 4 Landscaping	$4,750	$57,000	
Phase 4 Mulching		$1,146	$13,750 	
Total	$57,563	$690,755	
Landscape Contingency
Other landscape costs that is not under contract which includes landscape light repairs and replacements.
Lake Maintenance
Cost to provide aquatic plant management for thirteen lakes within the District. Includes treatment of lakes with herbicides and technology to control vegetation, and trash disposal along banks and lakes.
Contract	Monthly	Annual	
Future Horizons Inc	$1,769	$21,228	
Additional Lakes		$481	$5,772 	
Total	$2,250	$27,000	
Grounds Maintenance
Contracted staff for repairs and trash pick-up on District owned property.
Pump Repairs
Provision for pool pump repair or replacements as needed.
Streetlighting
FPL provides the District street lighting cost for the community. The amount is based upon the agreement plus estimated cost for fuel
Account #	Location	Monthly	Annual	
11082-69190	200 Twin Creeks Dr-SL	$5,500	$66,000	
	Contingency	$275	$3,294	
	Total	$5,775	$69,294	
Streetlight Repairs
Estimated costs for street lighting and parking lot repairs and replacements.
Irrigation Repairs
Miscellaneous irrigation repairs and maintenance cost for the District.
Miscellaneous
Any unanticipated and unscheduled maintenance cost to the District.
Contingency
A contingency for any unanticipated and unscheduled cost to the District.
Capital Reserves
The District will establish a reserve to fund the renewal and replacement of District’s capital related facilities which will be transferred to a Capital Reserve Fund.

Adopted Budget
Debt Service Series 2016A1 Special Assessment Bonds

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
	Description	FY2024	6/30/24		3 Months		9/30/24	FY 2025	

REVENUES:							

Special Assessments-Tax Roll	
$443,364	
$446,134	
$-	
$446,134	
$443,364	
Interest Earnings	5,400	16,357	4,617	20,974	12,000	
Carry Forward Surplus (1)	199,313	197,434	-	197,434	222,167	
TOTAL REVENUES	$648,077	$659,925	$4,617	$664,542	$677,531	

EXPENDITURES:						
Interest - 11/1	$156,188	$156,188	$-	$156,188	$153,263	
Interest - 5/1	156,188	156,188	-	156,188	153,263	
Principal - 5/1	130,000	130,000	-	130,000	140,000	
TOTAL EXPENDITURES	$442,375	$442,375	$-	$442,375	$446,525	

Other Sources/(Uses)	

Interfund transfer In/(Out)	
$-	
$-	
-	
-	
$-	
TOTAL OTHER SOURCES/(USES)	$-	$-	$-	$-	$-	
						
TOTAL EXPENDITURES	$442,375	$442,375	$-	$442,375	$446,525	
						
EXCESS REVENUES (EXPENDITURES)	$205,702	$217,550	$4,617	$222,167	$231,006	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/25

$150,113

$150,113

Series 2016A-1 Special Assessment Bonds

Period	
Outstanding Balance	
Coupons	
Principal	
Interest	
Annual Debt Service	
						
11/01/24	5,835,000			153,263	153,263	
05/01/25	5,835,000		140,000	153,263		
11/01/25	5,695,000			150,113	443,375	
05/01/26	5,695,000		145,000	150,113		
11/01/26	5,550,000			146,850	441,963	
05/01/27	5,550,000		150,000	146,850		
11/01/27	5,400,000			143,475	440,325	
05/01/28	5,400,000		160,000	93,225		
11/01/28	5,240,000			93,225	346,450	
05/01/29	5,240,000		165,000	93,225		
11/01/29	5,075,000			93,225	351,450	
05/01/30	5,075,000		175,000	93,225		
11/01/30	4,900,000			93,225	361,450	
05/01/31	4,900,000		185,000	93,225		
11/01/31	4,715,000			93,225	371,450	
05/01/32	4,715,000		195,000	93,225		
11/01/32	4,520,000			93,225	381,450	
05/01/33	4,520,000		205,000	93,225		
11/01/33	4,315,000			93,225	391,450	
05/01/34	4,315,000		215,000	93,225		
11/01/34	4,100,000			93,225	401,450	
05/01/35	4,100,000		225,000	93,225		
11/01/35	3,875,000			93,225	411,450	
05/01/36	3,875,000		235,000	93,225		
11/01/36	3,640,000			93,225	421,450	
05/01/37	3,640,000		250,000	93,225		
11/01/37	3,390,000			93,225	436,450	
05/01/38	3,390,000		260,000	93,225		
11/01/38	3,130,000			86,075	439,300	
05/01/39	3,130,000		275,000	86,075		
11/01/39	2,855,000			78,513	439,588	
05/01/40	2,855,000		290,000	78,513		
11/01/40	2,565,000			70,538	439,050	
05/01/41	2,565,000		310,000	70,538		
11/01/41	2,255,000			62,013	442,550	
05/01/42	2,255,000		325,000	62,013		
11/01/42	1,930,000			53,075	440,088	
05/01/43	1,930,000		345,000	53,075		
11/01/43	1,585,000			43,588	441,663	
05/01/44	1,585,000		365,000	43,588		
11/01/44	1,220,000			33,550	442,138	
05/01/45	1,220,000		385,000	33,550		
11/01/45	835,000			22,963	441,513	
05/01/46	835,000		405,000	22,963		
11/01/46	430,000			11,825	439,788	
05/01/47	430,000		430,000	11,825	441,825	
Total			$5,835,000	$3,925,925	$9,760,925	

Adopted Budget
Debt Service Series 2018A1 & A2 Special Assessment Bonds

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
	Description	FY2024	6/30/24		3 Months		9/30/24	FY 2025	

REVENUES:							

Special Assessments-Tax Roll	
$612,533	
$616,360	
$-	
$616,360	
$612,533	
Interest Earnings	7,000	21,628	6,075	27,703	14,000	
Carry Forward Surplus (1)	261,256	258,659	-	258,659	288,459	
TOTAL REVENUES	$880,789	$896,647	$6,075	$902,722	$914,992	

EXPENDITURES:						
Interest - 11/1	$229,631	$229,631	$-	$229,631	$226,338	
Interest - 5/1	229,631	229,631	-	229,631	226,338	
Principal - 5/1	155,000	155,000	-	155,000	160,000	
TOTAL EXPENDITURES	$614,263	$614,263	$-	$614,263	$612,675	

Other Sources/(Uses)	

Interfund transfer In/(Out)	
$-	
$-	
$-	
$-	
$-	
TOTAL OTHER SOURCES/(USES)	$-	$-	$-	$-	$-	
						
TOTAL EXPENDITURES	$614,263	$614,263	$-	$614,263	$612,675	
						
EXCESS REVENUES (EXPENDITURES)	$266,526	$282,384	$6,075	$288,459	$302,317	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/25

$222,338

$222,338

Series 2018A-1 Special Assessment Bonds

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

11/01/24	8,245,000		226,338	226,338	
05/01/25	8,245,000	160,000	226,338		
11/01/25	8,085,000		222,338	608,675	
05/01/26	8,085,000	170,000	222,338		
11/01/26	7,915,000		218,088	610,425	
05/01/27	7,915,000	180,000	218,088		
11/01/27	7,735,000		213,588	611,675	
05/01/28	7,735,000	185,000	213,588		
11/01/28	7,550,000		208,963	607,550	
05/01/29	7,550,000	195,000	208,963		
11/01/29	7,355,000		204,088	608,050	
05/01/30	7,355,000	205,000	204,088		
11/01/30	7,150,000		198,963	608,050	
05/01/31	7,150,000	220,000	198,963		
11/01/31	6,930,000		192,913	611,875	
05/01/32	6,930,000	230,000	192,913		
11/01/32	6,700,000		186,588	609,500	
05/01/33	6,700,000	245,000	186,588		
11/01/33	6,455,000		179,850	611,438	
05/01/34	6,455,000	260,000	179,850		
11/01/34	6,195,000		172,700	612,550	
05/01/35	6,195,000	270,000	172,700		
11/01/35	5,925,000		165,275	607,975	
05/01/36	5,925,000	285,000	165,275		
11/01/36	5,640,000		157,438	607,713	
05/01/37	5,640,000	305,000	157,438		
11/01/37	5,335,000		149,050	611,488	
05/01/38	5,335,000	320,000	149,050		
11/01/38	5,015,000		140,250	609,300	
05/01/39	5,015,000	340,000	140,250		
11/01/39	4,675,000		130,900	611,150	
05/01/40	4,675,000	360,000	130,900		
11/01/40	4,315,000		120,820	611,720	
05/01/41	4,315,000	380,000	120,820		
11/01/41	3,935,000		110,180	611,000	
05/01/42	3,935,000	400,000	110,180		
11/01/42	3,535,000		98,980	609,160	
05/01/43	3,535,000	425,000	98,980		
11/01/43	3,110,000		87,080	611,060	
05/01/44	3,110,000	450,000	87,080		
11/01/44	2,660,000		74,480	611,560	
05/01/45	2,660,000	475,000	74,480		
11/01/45	2,185,000		61,180	610,660	
05/01/46	2,185,000	500,000	61,180		
11/01/46	1,685,000		47,180	608,360	
05/01/47	1,685,000	530,000	47,180		
11/01/47	1,155,000		32,340	609,520	
05/01/48	1,155,000	560,000	32,340		
11/01/48	595,000		16,660	609,000	
05/01/49	595,000	595,000	16,660	611,660	
Total		$8,245,000	$7,232,450	$15,477,450	

Adopted Budget
Debt Service Series 2019A1 & A2 Special Assessment Bonds

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
	Description	FY2024	6/30/24		3 Months		9/30/24	FY 2025	

REVENUES:							

Special Assessments-Tax Roll	
$257,353	
$258,961	
$-	
$258,961	
$257,353	
Special Assessments - Prepayments	-	25,163	-	25,163	-	
Interest Earnings	3,000	9,239	2,610	11,849	8,500	
Carry Forward Surplus (1)	114,512	113,671	-	113,671	123,844	
TOTAL REVENUES	$374,865	$407,034	$2,610	$409,644	$389,697	

EXPENDITURES:

Interest - 11/1	$97,900	$97,900	$-	$97,900	$95,478	
Interest - 5/1	97,900	97,900	-	97,900	95,478	
Principal - 5/1	60,000	60,000	-	60,000	65,000	
Principal Prepayment- 5/1	-	30,000	-	30,000	-	
TOTAL EXPENDITURES	$255,800	$285,800	$-	$285,800	$255,955	

Other Sources/(Uses)

Interfund transfer In/(Out)	$-	$-	$-	$-	$-	
TOTAL OTHER SOURCES/(USES)	$-	$-	$-	$-	$-	
						
TOTAL EXPENDITURES	$255,800	$285,800	$-	$285,800	$255,955	
						
EXCESS REVENUES (EXPENDITURES)	$119,065	$121,234	$2,610	$123,844	$133,742	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/25

$93,788

$93,788

Series 2019A-1 Special Assessment Bonds

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

11/01/24	3,355,000		95,478	95,478	
05/01/25	3,355,000	65,000	95,478		
11/01/25	3,290,000		93,788	254,265	
05/01/26	3,290,000	65,000	93,788		
11/01/26	3,225,000		92,098	250,885	
05/01/27	3,225,000	70,000	92,098		
11/01/27	3,155,000		90,278	252,375	
05/01/28	3,155,000	75,000	90,278		
11/01/28	3,080,000		88,328	253,605	
05/01/29	3,080,000	80,000	88,328		
11/01/29	3,000,000		86,248	254,575	
05/01/30	3,000,000	85,000	86,248		
11/01/30	2,915,000		84,038	255,285	
05/01/31	2,915,000	85,000	84,038		
11/01/31	2,830,000		81,615	250,653	
05/01/32	2,830,000	90,000	81,615		
11/01/32	2,740,000		79,050	250,665	
05/01/33	2,740,000	100,000	79,050		
11/01/33	2,640,000		76,200	255,250	
05/01/34	2,640,000	105,000	76,200		
11/01/34	2,535,000		73,208	254,408	
05/01/35	2,535,000	110,000	73,208		
11/01/35	2,425,000		70,073	253,280	
05/01/36	2,425,000	115,000	70,073		
11/01/36	2,310,000		66,795	251,868	
05/01/37	2,310,000	125,000	66,795		
11/01/37	2,185,000		63,233	255,028	
05/01/38	2,185,000	130,000	63,233		
11/01/38	2,055,000		59,528	252,760	
05/01/39	2,055,000	135,000	59,528		
11/01/39	1,920,000		55,680	250,208	
05/01/40	1,920,000	145,000	55,680		
11/01/40	1,775,000		51,475	252,155	
05/01/41	1,775,000	155,000	51,475		
11/01/41	1,620,000		46,980	253,455	
05/01/42	1,620,000	165,000	46,980		
11/01/42	1,455,000		42,195	254,175	
05/01/43	1,455,000	175,000	42,195		
11/01/43	1,280,000		37,120	254,315	
05/01/44	1,280,000	185,000	37,120		
11/01/44	1,095,000		31,755	253,875	
05/01/45	1,095,000	195,000	31,755		
11/01/45	900,000		26,100	252,855	
05/01/46	900,000	205,000	26,100		
11/01/46	695,000		20,155	251,255	
05/01/47	695,000	220,000	20,155		
11/01/47	475,000		13,775	253,930	
05/01/48	475,000	230,000	13,775		
11/01/48	245,000		7,105	250,880	
05/01/49	245,000	245,000	7,105	252,105	
Total		$3,355,000	$3,064,585	$6,419,585	

Adopted Budget
Debt Service Series 2020 A1 & A2 Special Assessment Bonds

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
	Description	FY2024	6/30/24		3 Months		9/30/24	FY 2025	

REVENUES:							

Special Assessments-Tax Roll	
$113,041	
$113,747	
$-	
$113,747	
$114,490	
Interest Earnings	1,600	4,648	1,272	5,920	5,500	
Carry Forward Surplus (1)	51,604	69,957	-	69,957	61,116	
TOTAL REVENUES	$166,245	$188,352	$1,272	$189,624	$181,107	

EXPENDITURES:						
Interest - 11/1	$42,078	$42,078	$-	$42,078	$41,547	
Interest - 5/1	42,078	42,078	-	42,078	41,547	
Principal - 5/1	25,000	25,000	-	25,000	30,000	
TOTAL EXPENDITURES	$109,156	$109,156	$-	$109,156	$113,094	

Other Sources/(Uses)	

Interfund transfer In/(Out)	
$-	
$(19,351)	
-	
(19,351)	
$-	
TOTAL OTHER SOURCES/(USES)	$-	$(19,351)	$-	$(19,351)	$-	
						
TOTAL EXPENDITURES	$109,156	$128,508	$-	$128,508	$113,094	
						
EXCESS REVENUES (EXPENDITURES)	$57,089	$59,844	$1,272	$61,116	$68,013	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/25

$40,909

$40,909

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

11/1/24	1,590,000		41,547	41,547	
5/1/25	1,590,000	30,000	41,547		
11/1/25	1,560,000		40,909	112,456	
5/1/26	1,560,000	30,000	40,909		
11/1/26	1,530,000		40,272	111,181	
5/1/27	1,530,000	30,000	40,272		
11/1/27	1,500,000		39,559	109,831	
5/1/28	1,500,000	35,000	39,559		
11/1/28	1,465,000		38,728	113,288	
5/1/29	1,465,000	35,000	38,728		
11/1/29	1,430,000		37,897	111,625	
5/1/30	1,430,000	35,000	37,897		
11/1/30	1,395,000		37,066	109,963	
5/1/31	1,395,000	35,000	37,066		
11/1/31	1,360,000		36,234	108,300	
5/1/32	1,360,000	40,000	36,234		
11/1/32	1,320,000		35,184	111,419	
5/1/33	1,320,000	40,000	35,184		
11/1/33	1,280,000		34,134	109,319	
5/1/34	1,280,000	45,000	34,134		
11/1/34	1,235,000		32,953	112,088	
5/1/35	1,235,000	45,000	32,953		
11/1/35	1,190,000		31,772	109,725	
5/1/36	1,190,000	50,000	31,772		
11/1/36	1,140,000		30,459	112,231	
5/1/37	1,140,000	50,000	30,459		
11/1/37	1,090,000		29,147	109,606	
5/1/38	1,090,000	55,000	29,147		
11/1/38	1,035,000		27,703	111,850	
5/1/39	1,035,000	55,000	27,703		
11/1/39	980,000		26,259	108,963	
5/1/40	980,000	60,000	26,259		
11/1/40	920,000		24,684	110,944	
5/1/41	920,000	65,000	24,684		
11/1/41	855,000		22,978	112,663	
5/1/42	855,000	65,000	22,978		
11/1/42	790,000		21,231	109,209	
5/1/43	790,000	70,000	21,231		
11/1/43	720,000		19,350	110,581	
5/1/44	720,000	75,000	19,350		
11/1/44	645,000		17,334	111,684	
5/1/45	645,000	80,000	17,334		
11/1/45	565,000		15,184	112,519	
5/1/46	565,000	85,000	15,184		
11/1/46	480,000		12,900	113,084	
5/1/47	480,000	85,000	12,900		
11/1/47	395,000		10,616	108,516	
5/1/48	395,000	90,000	10,616		
11/1/48	305,000		8,197	108,813	
5/1/49	305,000	95,000	8,197		

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

11/1/49	210,000		5,644	108,841	
5/1/50	210,000	100,000	5,644		
11/1/50	110,000		2,956	108,600	
5/1/51	110,000	110,000	2,956	112,956	
Total		$1,590,000	$1,441,800	$3,031,800	

Adopted Budget
Debt Service Series 2021 Phase 3B Special Assessment Bonds

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
	Description	FY2024	6/30/24		3 Months		9/30/24	FY 2025	

REVENUES:							

Special Assessments-Tax Roll	
$279,656	
$280,915	
$-	
$280,915	
$280,765	
Interest Earnings	2,100	11,091	3,096	14,187	8,500	
Carry Forward Surplus (1)	112,709	91,513	-	91,513	100,153	
TOTAL REVENUES	$394,465	$383,519	$3,096	$386,615	$389,418	

EXPENDITURES:	

Interest - 11/1	
$85,560	
$85,560	
$-	
$85,560	
$84,206	
Interest - 5/1	85,560	85,560	-	85,560	84,206	
Principal - 5/1	105,000	105,000	-	105,000	110,000	
Special Call - 5/1	-	5,000	-	5,000	-	
TOTAL EXPENDITURES	$276,120	$281,120	$-	$281,120	$278,413	

Other Sources/(Uses)	

Interfund transfer In/(Out)	
$-	
$(5,342)	
-	
(5,342)	
$-	
TOTAL OTHER SOURCES/(USES)	$-	$(5,342)	$-	$(5,342)	$-	
						
TOTAL EXPENDITURES	$276,120	$286,462	$-	$286,462	$278,413	
						
EXCESS REVENUES (EXPENDITURES)	$118,345	$97,057	$3,096	$100,153	$111,005	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/25

$82,886

$82,886

Special Assessment Bonds Series 2021 Phase 3B

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

11/01/24	4,905,000		84,206	84,206	
05/01/25	4,905,000	110,000	84,206		
11/01/25	4,795,000		82,886	277,093	
05/01/26	4,795,000	115,000	82,886		
11/01/26	4,680,000		81,506	279,393	
05/01/27	4,680,000	115,000	81,506		
11/01/27	4,565,000		79,781	276,288	
05/01/28	4,565,000	120,000	79,781		
11/01/28	4,445,000		77,981	277,763	
05/01/29	4,445,000	125,000	77,981		
11/01/29	4,320,000		76,106	279,088	
05/01/30	4,320,000	125,000	76,106		
11/01/30	4,195,000		74,231	275,338	
05/01/31	4,195,000	130,000	74,231		
11/01/31	4,065,000		72,281	276,513	
05/01/32	4,065,000	135,000	72,281		
11/01/32	3,930,000		70,088	277,369	
05/01/33	3,930,000	140,000	70,088		
11/01/33	3,790,000		67,813	277,900	
05/01/34	3,790,000	145,000	67,813		
11/01/34	3,645,000		65,456	278,269	
05/01/35	3,645,000	150,000	65,456		
11/01/35	3,495,000		63,019	278,475	
05/01/36	3,495,000	155,000	63,019		
11/01/36	3,340,000		60,500	278,519	
05/01/37	3,340,000	160,000	60,500		
11/01/37	3,180,000		57,900	278,400	
05/01/38	3,180,000	165,000	57,900		
11/01/38	3,015,000		55,219	278,119	
05/01/39	3,015,000	170,000	55,219		
11/01/39	2,845,000		52,456	277,675	
05/01/40	2,845,000	175,000	52,456		
11/01/40	2,670,000		49,613	277,069	
05/01/41	2,670,000	180,000	49,613		
11/01/41	2,490,000		46,688	276,300	
05/01/42	2,490,000	185,000	46,688		
11/01/42	2,305,000		43,219	274,906	
05/01/43	2,305,000	195,000	43,219		
11/01/43	2,110,000		39,563	277,781	
05/01/44	2,110,000	200,000	39,563		
11/01/44	1,910,000		35,813	275,375	
05/01/45	1,910,000	210,000	35,813		
11/01/45	1,700,000		31,875	277,688	
05/01/46	1,700,000	215,000	31,875		
11/01/46	1,485,000		27,844	274,719	
05/01/47	1,485,000	225,000	27,844		
11/01/47	1,260,000		23,625	276,469	
05/01/48	1,260,000	235,000	23,625		
11/01/48	1,025,000		19,219	277,844	
05/01/49	1,025,000	245,000	19,219		
11/01/49	780,000		14,625	278,844	
05/01/50	780,000	250,000	14,625		
11/01/50	530,000		9,938	274,563	
05/01/51	530,000	260,000	9,938		
11/01/51	270,000		5,063	275,000	
05/01/52	270,000	270,000	5,063	275,063	
Total		$4,905,000	$2,937,023	$7,842,023	

Adopted Budget
Debt Service Series 2021 Phase 4 Special Assessment Bonds

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
	Description	FY2024	6/30/24		3 Months		9/30/24	FY 2025	

REVENUES:							

Special Assessments-Direct	
$423,738	
$296,616	
$127,121	
$423,738	
$423,738	
Interest Earnings	3,000	10,778	2,970	13,748	9,000	
Carry Forward Surplus (1)	136,629	136,133	-	136,133	141,131	
TOTAL REVENUES	$563,366	$443,527	$130,091	$573,619	$573,868	

EXPENDITURES:						
Interest - 11/1	$132,049	$132,049	$-	$132,049	$130,129	
Interest - 5/1	132,049	132,049	-	132,049	130,129	
Principal - 5/1	160,000	160,000	-	160,000	165,000	
TOTAL EXPENDITURES	$424,098	$424,098	$-	$424,098	$425,258	

Other Sources/(Uses)	

Interfund transfer In/(Out)	
$-	
$(8,390)	
-	
(8,390)	
$-	
TOTAL OTHER SOURCES/(USES)	$-	$(8,390)	$-	$(8,390)	$-	

TOTAL EXPENDITURES

$424,098	$432,488

$-

$432,488	$425,258

EXCESS REVENUES (EXPENDITURES)

$139,269

$11,040	$130,091

$141,131	$148,611

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/25

$128,149

$128,149

Special Assessment Bonds Series 2021 Phase 4

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

11/01/24	7,300,000		130,129	130,129	
05/01/25	7,300,000	165,000	130,129		
11/01/25	7,135,000		128,149	423,278	
05/01/26	7,135,000	165,000	128,149		
11/01/26	6,970,000		126,169	419,318	
05/01/27	6,970,000	170,000	126,169		
11/01/27	6,800,000		123,619	419,788	
05/01/28	6,800,000	175,000	123,619		
11/01/28	6,625,000		120,994	419,613	
05/01/29	6,625,000	180,000	120,994		
11/01/29	6,445,000		118,294	419,288	
05/01/30	6,445,000	190,000	118,294		
11/01/30	6,255,000		115,444	423,738	
05/01/31	6,255,000	195,000	115,444		
11/01/31	6,060,000		112,519	422,963	
05/01/32	6,060,000	200,000	112,519		
11/01/32	5,860,000		109,269	421,788	
05/01/33	5,860,000	205,000	109,269		
11/01/33	5,655,000		105,938	420,206	
05/01/34	5,655,000	215,000	105,938		
11/01/34	5,440,000		102,444	423,381	
05/01/35	5,440,000	220,000	102,444		
11/01/35	5,220,000		98,869	421,313	
05/01/36	5,220,000	225,000	98,869		
11/01/36	4,995,000		95,213	419,081	
05/01/37	4,995,000	235,000	95,213		
11/01/37	4,760,000		91,394	421,606	
05/01/38	4,760,000	240,000	91,394		
11/01/38	4,520,000		87,494	418,888	
05/01/39	4,520,000	250,000	87,494		
11/01/39	4,270,000		83,431	420,925	
05/01/40	4,270,000	260,000	83,431		
11/01/40	4,010,000		79,206	422,638	
05/01/41	4,010,000	265,000	79,206		
11/01/41	3,745,000		74,900	419,106	
05/01/42	3,745,000	275,000	74,900		
11/01/42	3,470,000		69,400	419,300	
05/01/43	3,470,000	290,000	69,400		
11/01/43	3,180,000		63,600	423,000	
05/01/44	3,180,000	300,000	63,600		
11/01/44	2,880,000		57,600	421,200	
05/01/45	2,880,000	310,000	57,600		
11/01/45	2,570,000		51,400	419,000	
05/01/46	2,570,000	325,000	51,400		
11/01/46	2,245,000		44,900	421,300	
05/01/47	2,245,000	340,000	44,900		
11/01/47	1,905,000		38,100	423,000	
05/01/48	1,905,000	350,000	38,100		
11/01/48	1,555,000		31,100	419,200	
05/01/49	1,555,000	365,000	31,100		
11/01/49	1,190,000		23,800	419,900	
05/01/50	1,190,000	380,000	23,800		
11/01/50	810,000		16,200	420,000	
05/01/51	810,000	395,000	16,200		
11/01/51	415,000		8,300	419,500	
05/01/52	415,000	415,000	8,300		
				423,300	
Total		$7,300,000	$4,615,743	$11,915,743	

O&M ALLOCATION - ALL LOTS AT PLATTED RATE

LAND USE	

TOTAL UNITS	

ERU	

TOTAL UNITS	

TOTAL ERUS	

FY25 TOTAL O&M	
FY25 NET O&M PER UNIT	
FY25 GROSS O&M PER UNIT	
FY24 GROSS
O&M UNIT	
$ INCREASE GROSS PER UNIT	

TOTAL O&M PROCEEDS NET	

%
Change	
TH	196	0.80	196	156.80	232,595.25	1,186.71	1,262.42	1,141.96	120.46	232,595.25	10.55%	
43'	472	0.90	472	424.80	630,143.26	1,335.05	1,420.23	1,284.71	135.52	630,143.26	10.55%	
53'	330	1.00	330	330.00	489,518.07	1,483.39	1,578.03	1,427.45	150.58	489,518.07	10.55%	
63'	309	1.10	309	339.90	504,203.61	1,631.73	1,735.83	1,570.20	165.64	504,203.61	10.55%	
73'	66	1.15	66	75.90	112,589.16	1,705.90	1,814.73	1,641.57	173.16	112,589.16	10.55%	
73'P	103	1.15	103	118.45	175,707.32	1,705.90	1,814.73	1,641.57	173.16	175,707.32	10.55%	
TOTAL	1,476		1,476	1,445.85	2,144,756.68					2,144,756.68		

O&M Special Assessment - Gate Monitoring

73'P	103	1.39	103	143.17	32,500.00	315.53	335.67	-	335.67	32,500.00