Middle Village
Community Development District

Approved Budget FY2023

Middle Village Community Development District		
Table of Contents		
	
Pages	
General Fund	1	
General Fund Narrative	2-5	
Recreation Fund	6-7	
Recreation Narrative	8-16	
Debt Service Series 2018	17	
Debt Service Fund - Series 2022 Amortization	18	
Debt Service Fund - Series 2018-2 Amortization	19	
Assessment Allocation O&M	20	
Assessment Allocation Debt Service	21	
Capital Reserve Fund	22	
Reserve Study Funding Plan	23	
Exhibit 'A'	24	

Middle Village
Community Development District	General Fund

 Description			Adopted
Budget
	FY 2022			Actual

  4/30/22 		Next
5
	Months			Projected
Thru
  9/30/22 		Approved
Budget
  FY 2023		
Revenues											
Special Assessments		$	215,687		$ 219,569		$	1,907		$ 221,475		$  217,187	
Interest Income		$	350		$	206		$	100		$	306		$	350	
Total Revenues		 $  216,037 		 $ 219,774 		 $	2,007 		 $ 221,781 		 $  217,537 	
Expenditures											
Supervisors Fees		$	12,000		$	6,000		$	5,000		$  11,000		$	12,000	
Travel		$	200		$	-		$	100		$	100		$	200	
FICA Expense		$	918		$	472		$	383		$	855		$	918	
Engineering		$	10,500		$	195		$	8,755		$	8,950		$	10,500	
Trustee		$	15,100		$ 16,200		$	-		$  16,200		$	16,200	
Dissemination Agent		$	3,500		$	1,975		$	1,525		$	3,500		$	3,500	
Assessment Roll		$	7,550		$	7,550		$	-		$	7,550		$	7,550	
Attorney		$	45,000		$ 16,354		$	28,500		$  44,854		$	45,000	
Attorney-Foreclosure		$	10,000		$	-		$	5,000		$	5,000		$	10,000	
Arbitrage		$	750		$	-		$	750		$	750		$	750	
Annual Audit		$	6,100		$	-		$	6,100		$	6,100		$	6,100	
Management Fees		$	61,762		$ 36,078		$	30,881		$  66,959		$	64,850	
Information Technology		$	2,550		$	1,494		$	1,050		$	2,544		$	2,550	
Telephone		$	425		$	350		$	250		$	600		$	600	
Postage		$	600		$	217		$	381		$	598		$	600	
Printing & Binding		$	2,700		$	299		$	1,700		$	1,999		$	2,000	
Records Storage		$	200		$	-		$	100		$	100		$	200	
Insurance		$	12,251		$ 11,527		$	-		$  11,527		$	15,727	
Legal Advertising		$	1,500		$	581		$	833		$	1,414		$	1,500	
Other Current Charges		$	150		$	15		$	135		$	150		$	150	
Office Supplies		$	300		$	17		$	250		$	267		$	300	
Website Compliance		$	2,250		$	1,313		$	938		$	2,250		$	2,250	
Dues, Licenses & Subscriptions		$	175		$	175		$	-		$	175		$	175	
Reserves		$	19,556		$	-		$	19,556		$  19,556		$	13,917	
Administrative Expenses		 $  216,037 		 $ 100,811 		 $ 112,186 		 $ 212,997 		 $  217,537 	
EXCESS REVENUES / (EXPENDITURES)		 $	0 		 $ 118,963 		 $ (110,179) 		 $	8,784 		 $	-		

Expenses	$  217,537	
Less: Reserves	 $  (13,917) 	
Net	$  231,454	
Divide	  4 Quarters 	
First Quarter:	 $	57,863 	

1

REVENUES:

Maintenance Assessments

The District will levy a non ad-valorem special assessment on all assessable property within the District to fund all of the General Operating Expenditures for the fiscal year. Collection for SPE is suspended until property is sold.

Interest Income

The excess operating funds will be invested in a money market account held by US Bank. The amount represents the estimated earnings on those funds.

EXPENDITURES:

Administrative:

Supervisor Fees

The Florida Statutes allows each board member to receive $200 per meeting not to exceed
$4,800 in one year. The amount for the fiscal year is based upon five supervisors attending the estimated 12 annual meetings.

Travel Expense

These expenses represent supervisor’s travel expenses to attend meetings.

FICA Expense

These expenses represent the Employer's share of Social Security and Medicare taxes withheld from the Board of Supervisors checks.

Engineering Fees

The District's engineering firm will be providing general engineering services to the District including attendance and preparation for monthly board meetings, review invoices, etc. England, Thims & Miller serves as the District’s engineering firm.

Trustee Fees

The District 2018 Bond Series trustee fees is based on the agreement between Hancock Bank and the District.

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. The District has contracted with GMS, LLC, to provide this service.

Assessment Roll

Governmental Management Services, LLC serves as the District’s collection agent and certifies the District’s non-ad valorem assessments with the county tax collector.

Attorney

The District's legal counsel will be providing general legal services to the District including attendance and preparation for monthly meetings, review operating and maintenance contracts, etc. Hopping Green & Sams serves as the District’s legal counsel.

Attorney – Foreclosure

The District's legal counsel will be providing bankruptcy and foreclosure services to the District.

Arbitrage

The District is required to annually have an arbitrage rebate calculation on the District’s Series 2018 Bonds. GNP Services, CPA, PA, serves as the District’s independent certified public accounting firm to calculate the rebate liability and submit reports to the District.

Annual Audit

The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm. Grau and Associates currently serves as the District’s Independent Auditor.

Management Fees

The District receives management, accounting and administrative services as part of a Management Agreement with Governmental Management Services, LLC.

Information Technology

Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, security, accounting software, etc.

Website Maintenance

Represents the costs associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc.

Telephone

Telephone and fax machine.

Postage

Mailing of agenda packages, overnight deliveries, correspondence, etc.

Printing & Binding

Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc.

Records Storage

Cost associated with storing of District records offsite and electronically.

Insurance

The District's General Liability & Public Officials Liability Insurance policy is with Florida Property Alliance Preferred (FPA). FPA specializes in providing insurance coverage to governmental agencies.

Legal Advertising

The District is required to advertise various notices for monthly Board meetings, public hearings etc. in a newspaper of general circulation.

Other Current Charges

Any miscellaneous expenses incurred during the year.

Office Supplies

Miscellaneous office supplies.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Department of Community Affairs for
$175. This is the only expense under this category for the District.

Reserves

Established to maintain community service levels at present standards for fiscal year.

	Adopted
Budget		Actual		Projected
5		Projected
Thru		Approved
Budget	
 Description			FY 2022			  4/30/22				Months			  9/30/22				FY 2023		
Revenues										
Special Assessments	$ 1,592,515		$ 1,621,175		$	14,077		$ 1,635,252		$ 1,975,385	
Interest Income	$	1,000		$	107		$	120		$	227		$	500	
Miscellaneous Revenue	$	2,500		$	1,561		$	1,115		$	2,676		$	3,000	
Amenities Revenue	$	85,000		$	66,296		$	33,704		$	100,000		$	100,000	
Cost Share Revenue-South Village	$	36,662		$	33,063		$	-		$	33,063		$	33,063	
Total Revenues	 $ 1,717,677 		 $1,722,203 		 $	49,016 		 $ 1,771,219 		 $ 2,111,948 	
Expenditures										
Administrative										
Management Fees - On Site Staff	$	293,904		$  171,444		$ 122,460		$	293,904		$	317,416	
Insurance	$	52,916		$	55,081		$	-		$	55,081		$	62,717	
Other Current Charges	$	4,000		$	2,923		$	2,000		$	4,923		$	5,000	
Permit Fees	$	1,500		$	448		$	700		$	1,148		$	1,500	
Office Supplies	$	500		$	-		$	250		$	250		$	500	
Administrative Expenses	 $	352,820 		 $  229,896 		 $ 125,410 		 $  355,306 		 $	387,133 	
Maintenance										

Security	
$	150,000		
$	82,013		
$	67,988		
$	150,000		
$	166,335	
Security Clay County	$	47,000		$	23,063		$	28,250		$	51,313		$	59,502	
Electric	$	18,000		$	10,617		$	9,323		$	19,940		$	20,000	
Streetlighting	$	32,000		$	17,618		$	17,382		$	35,000		$	35,000	
Irrigation Maintenance	$	5,000		$	2,077		$	2,895		$	4,972		$	5,000	
Landscape Maintenance	$	450,256		$  259,863		$ 187,605		$	447,468		$	488,528	
Common Area Maintenance	$	65,000		$	41,290		$	28,550		$	69,840		$	70,000	
Lake Maintenance	$	20,000		$	10,633		$	9,314		$	19,947		$	21,000	
Miscellaneous Maintenance	$	5,000		$	-		$	2,500		$	2,500		$	5,000	
Common Area Expenses	 $	792,256 		 $  447,174 		 $ 353,807 		 $  800,980 		 $	870,365 	
Recreation Facility										
Amenity Staff	$	160,000		$	48,109		$ 108,614		$	156,723		$	176,000	
Janitorial	$	55,000		$	26,483		$	28,452		$	54,935		$	55,000	
Telephone	$	8,800		$	5,493		$	6,500		$	11,993		$	12,000	
Electric	$	64,000		$	29,048		$	34,749		$	63,797		$	64,000	
Water / Sewer	$	46,000		$	19,994		$	26,000		$	45,994		$	46,000	
Gas/Heat (Pool)	$	25,000		$	20,876		$	4,124		$	25,000		$	25,000	
Refuse Service	$	20,000		$	14,009		$	10,007		$	24,016		$	25,000	
Pool Maintenance & Chemicals	$	45,000		$	19,339		$	24,814		$	44,152		$	45,000	

	Adopted
Budget		Actual		Projected
5	Projected
Thru		Approved
Budget	
 Description			FY 2022			  4/30/22				Months		  9/30/22				FY 2023		
Cable	$	5,800		$	3,871		$	4,015	$	7,885		$	8,000	
Special Events	$	5,000		$	822		$	4,174	$	4,996		$	5,000	
Office Supplies and Equipment	$	1,500		$	29		$	1,450	$	1,479		$	1,500	
Facility Maintenance - General	$	55,500		$	31,948		$	25,820	$	57,768		$	58,000	
Facility Maintenance - Preventive Contracts	$	15,350		$	1,087		$	13,550	$	14,637		$	15,950	
Facility Maintenance - Contingency	$	3,651		$	2,021		$	2,979	$	5,000		$	5,000	
Elevator Maintenance	$	3,000		$	958		$	1,950	$	2,908		$	3,000	
Recreation Passes	$	5,000		$	1,374		$	3,612	$	4,986		$	5,000	
Lighting Repairs	$	10,000		$	5,592		$	4,325	$	9,917		$	10,000	
Tennis Court Maintenance	$	44,000		$	21,671		$	23,136	$	44,807		$	45,000	
Capital Reserve	$	-		$	-		$	-	$	-		$	250,000	
Total Recreation Facility	 $	572,601 		 $  252,723 		 $ 328,269 	
 $  580,992 		 $	854,450 	
Total Expenses	 $ 1,717,677 		 $  929,792 		 $ 807,486 	
 $ 1,737,278 		 $ 2,111,948 	
EXCESS REVENUES / (EXPENDITURES)	 $	(0) 		 $  792,410 		 $ (758,470) 	
 $	33,940 		 $	-		
						
Expenses		
$ 2,111,948	
						Less: Reserves		 $	250,000 	
						Net		$ 1,861,948	
						Divide		  4 Quarters 	
						First Quarter:		 $	465,487 	

REVENUES:

Maintenance Assessments

The District will levy a non ad-valorem special assessment on all assessable property within the District to fund all of the Recreational Operating Expenditures for the fiscal year. SPE Collection is suspended until property is under new ownership.

Interest Income

The District will have funds invested in a money market fund with Hancock Bank. The amount is based upon the estimated balance invested throughout the year

Amenities Revenue

Income received from resident/non-resident rental of Grand Banquet Room, Furniture and Grand Lawn.

Income from proceeds from access cards.

Income earned from the sales of vending items.

Income received from the non-resident user fee for the Recreation Facility.

Income received from tennis lessons, ball machine rental, and equipment repair.

Cost Share Revenue – South Village

The District has entered into a Cost Share Agreement with the South Village Community Development District to fund a portion of the Landscape Maintenance Cost of the District.

EXPENDITURES:

Administrative:

Management Fees – On Site

The District has contracted with Governmental Management Services, LLC (“GMS”) for the supervision and on-site management of the District’s amenities. The responsibilities include management of District maintenance contracts, scheduling special events, management of District employees, rental of facilities, scheduling of special events, resident inquiries and other maintenance related items. The District shares the cost of a community manager, aquatics director, fitness center/access director, rental coordinator and administrative assistant with the Double Branch Community Development District.

Insurance

The District's Property Insurance policy is with Florida Property Alliance (FPA). FPA specializes in providing insurance coverage to governmental agencies.

Other Current Charges

Bank charges and any other miscellaneous expenses that are incurred during the year.

Permit Fees

Costs of various occupational licenses and pool permits.

Description	Annual	
Play Pool Permit	$	250	
Lap Pool Permit	$	250	
Spray Pool Permit	$	125	
State Public Broadcast	$	875	
Total	$	1,500	

Office Supplies

Miscellaneous office supplies for onsite manager and rental coordinator.

Maintenance: Common Area

Security

The District will have a contract with Allied Universal Security, a security company to provide Athletic Center and Common area security services and a roving guard.

Description	Monthly	Annual

Total	$	13,861	$	166,335

Security Contract Contingency/Extra Coverage

$	13,333	$
$	528	$

160,000
6,335

Security – Clay County

The District will contract with off-duty Clay County Officers 24 hours/week random patrols (cost split 50/50 with Double Branch).

Electric

The cost of electricity provided by Clay Electric Cooperative, Inc. for signage lighting, entry feature lighting, landscape lighting, etc.

Account Number	Description	Monthly	Annual	
6082986	885 Misty Oak Drive	$	32	$	384	
6144521	384 Oakleaf Plantation Boulevard	$	125	$	1,500	
6177042	726-1 Chestnut Chase Drive	$	50	$	600	
6214282	707 Oak Leaf Plantation Pkwy	$	155	$	1,860	
6411763	4222-1 Plantation Oaks Blvd	$	225	$	2,700	
7131568	893-1 Cardinal Hills Street	$	35	$	420	
7131600	508-1 Chestwood Chase Drive	$	40	$	480	
7131634	3215-1 Live Oak Hollow Drive	$	35	$	420	
7131642	1016-1 Oakleaf Plantation Parkway	$	35	$	420	
7131691	1225-1 Deerview Lane	$	35	$	420	
7138258	3786-1 Timberline Drive	$	35	$	420	
7709488	711-1 Oak Leaf Plantation	$	70	$	840	
7778707	4219-1 Plantation Oaks Blvd	$	70	$	840	
8339848	1097-1 Oakleaf Planta U/G	$	70	$	840	
8455321	713-1 Oakleaf Plantation Pkwy	$	115	$	1,380	
8455347	573-2 Oakleaf Plantation Pkwy	$	135	$	1,620	
	Contingency	$	405	$	4,856	
Total		$	1,667	$	20,000	

Street Lighting

The cost of roadway lighting provided by Clay Electric Cooperative, Inc.:

Account Number	Description	Monthly	Annual	
6301196	Westside of Brannanfield	$	2,735	$	32,820	
	Contingency	$	182	$	2,180	
Total		$	2,667	$	35,000	

Irrigation Maintenance

Miscellaneous irrigation repairs and maintenance incurred by the district.

Landscape Maintenance

The District has contracted with Verdego to provide landscaping and irrigation maintenance services to all of the common areas within the District as well as the Amenity Center.

Description	Monthly	Annual	
Landscape Contract	$ 40,711	$ 488,528	
Total	$40,711	$488,528	

Common Area Maintenance			
Represents the estimated day-to-day Services include:	maintenance  of	the Districts common areas.	

-Pressure washing of District fences, entrance signage and pillars, pool areas, tennis facilities, gazebos, amenity center, field house, parks, park equipment and sidewalks. The estimated annual amounts for these services are based upon contractor proposals.

The estimated cost for the following is based upon past history and current hourly rates:
-All common area easements and park litter clean up
-Storm sewer grate inspections and cleaning
-Removal of unauthorized signage and maintenance of community signage
-Traffic/car accident clean up
-Inspections and repairs to all park equipment such as playground, picnic tables and benches.
-Lake inspections and cleanup

Lake Maintenance

The District has contracted with The Lake Doctors to provide monthly water management services and annual carp as needed per the contract to the 13 lakes within the District. Contingency includes monthly lake inspections and clean-up of outfall structures and barriers.

Description	Monthly	Annual	
Lake Maintenance Contract	$	1,572	$	18,868	
Contingency	$	178	$	2,132	
Total	$	1,750	$	21,000	

Miscellaneous Maintenance

Includes contingency for any unanticipated and unscheduled cost to the District.

Maintenance: Recreational Facility

Amenity Staff

The District pays direct salaries for one front desk staff at the fitness center and to provide lifeguard services from District employees during pool operating season, Mid- March through October.

Janitorial

The District has contracted with Riverside Management Services, LLC to provide janitorial services and scheduled carpets cleanings to the District. Janitorial services are being provided seven days a week and carpets will be cleaned 9xs a year unless otherwise needed. Supplies will be purchased directly from ERC Wiping Products and Supplyworks.

Description	Monthly	Annual	
Janitorial Contract	$	3,783	$	45,400	
Contingency	$	150	$	1,800	
Supplies	$	650	$	7,800	
Total	$	4,583	$	55,000	

Telephone

The Amenity Center currently pays AT&T for 3 phone lines (291-1283, 291-1776 and 291-1849). The amounts are based upon the following:

Description	Monthly	Annual	
ATT Telephone Contract	$	959	$	11,508	
Contingency	$	41	$	492	
Total	$	1,000	$	12,000	

Electric

Cost of electric billed to the District by Clay Electric for the Amenity Center.

Account Number	Description	Monthly	Annual

Total	$	5,333	$  64,000

6301188	845 Oakleaf Plantation Pkwy	$ 8353831	853 Oakleaf Plantation Pkwy (Pool)	$ Contingency		$

3,000	$
1,750	$
583	$

36,000
21,000
7,000

Water / Sewer

Cost of water and sewer service from JEA and Clay County Utility Authority for the
Amenity Center.		
Account Number	Description	Monthly	Annual	
64274704	845 Oakleaf Plantation - Water	$	350	$	4,200	
64274704	845 Oakleaf Plantation - Sewer	$	650	$	7,800	
68260125	845 Oakleaf Plantation -Pool	$	150	$	1,800	
Total JEA  $	1,150	$  12,000 	

210999	
3214-1 Tower Oaks Drive Rec	
$	1,250	
$	15,000	
235920	701-1 Turkey Point Drive Rec	$	46	$	552	
235921	878-1 Songbird Drive Rec	$	35	$	420	
235922	738-1 Chestwood Chase Drive	$	25	$	300	
241833	3214-2 Tower Oaks Drive Rec	$	30	$	360	
274569	1089 Oakleaf Plantation Pkwy	$	210	$	2,520	
274570	1092 Oakleaf Plantation Pkwy	$	125	$	1,500	
276170	3713-1 Chasing Falls Rd Recl Irrig	$	35	$	420	
276168	533-1 Southwood Way Irrig	$	650	$	7,800	
276169	533-2 Southwood Way Rec. Irrig	 $	55	$	660 
Total CCUA  $	2,461	$  29,532 
Contingency	$	372	$	4,468	
Total Water/Sewer/Reclaim	$	3,983	$  46,000	

Gas/Heat (Pool)		

Cost of gas to heat the pool water during wintertime. The District uses Wilford Propane Gas as a gas supplier.

Refuse Service

The District receives Refuse removal service from Southland Waste Service for the Amenity Center. Two dumpsters during busy summer months (June-Aug).

Pool Maintenance & Chemicals

The District currently has a contract with Poolsure to supply chemicals and chemical feeders for the Amenity Center pools. The District is contracted with RMS for the cleaning, water testing, and treatment of the Amenity Center pools. During summer months, district employees will help with basic poolside cleaning such as brushing, skimming, and tile cleaning. Additionally, GMS staff handles the annual maintenance projects on the pool and deck features. The amount is based upon the following:

Description	Monthly	Annual	
Pool maintenance/chemiclas	$	2,500	$	30,000	
Contingency	$	1,250	$	15,000	
Total	$	3,750	$	45,000	

Cable

The District currently uses Comcast for cable services.

Description	Monthly	Annual

Total	$	667	$	8,000

Tennis Fitness

$	92	$
$	575	$

1,100
6,900

Special Events

Monthly events and organized functions the Amenity Center Director provide for all residents of Oakleaf Plantation.

Office Supplies and Equipment

Office supplies for the Amenity Center.

Facility Maintenance – General

Represents estimated cost for general maintenance throughout the District based upon historical cost.

Facility Maintenance – Preventative

Cost of routine repairs and maintenance.

Facility Maintenance – Contingency

Represents estimated amount based upon historical cost for fence repairs, graffiti clean- up, signage repairs, wall cap replacements and damaged park equipment.

Elevator Maintenance

The District has a contract with Coastal Elevator Service for the maintenance of the Amenity Center Elevator as well as the annual state inspection.

Description	Monthly	Annual	
Contract	$	160	$	1,916	
Inspection	$	-	$	250	
Contingency	$	86	$	835	
Total	$	246	$	3,000	

Recreation Passes

Entry cards are issued to all CDD residents for facility access. Recreation Passes include the cards, ribbon, cleaner, guest cards etc.

Lighting Repairs

Represents costs for fixtures, bulb and ballast, replacement, and electrician labor based upon past history.

Tennis Court Maintenance

Represents cost of clay replacement and installation (twice per year), irrigation and equipment repairs, drainage cleaning/repairs.

Capital Reserve

Money set aside for future replacements of capital related items and operating capital.

Middle Village
Community Development District	Debt Service Fund
Series 2018-1 (2022)/2018-2

 Description			Proposed
Budget
	FY 2022			Actual

	4/30/22			Next
5
	Months			Projected

 Thru 9/30/22 		Approved
Budget
  FY 2023		
Revenues											
Carry Forward Surplus		$  758,833		$	951,992		$	-		$	951,992		$  266,122	
Special Assessments		$ 2,076,955		$  2,004,192		$	22,285		$ 2,026,477		$ 1,798,939	
Special Assessments- Prepayment		$	-		$	552,178		$	-		$	552,178		$	-	
Interest Income		$	700		$	264		$	200		$	464		$	500	
Bond Proceeds		$	-		$ 17,754,000		$	-		$ 17,754,000		$	-	
Total Revenues		 $ 2,836,489 		 $ 21,262,625 		 $	22,485 		 $ 21,285,111 		 $ 2,065,561 	
Expenditures											
Series 2018A-1											
Interest 11/1		$  379,658		$	379,658		$	-		$	379,658		$	-	
Special Call 11/1		$	-		$	12,000		$	-		$	12,000		$	-	
Interest 5/1	$  379,658	$	-	$	-	$	-	$	-	
Principal 5/1	$ 1,042,000	$	-	$	-	$	-	$	-	
Series 2022			
Interest 11/1	$	-	$	-	$	-	$	-	$	213,140	
Interest Expense - 5/1	$  131,561	$	-	$	131,561	$	131,561	$  213,140	
Principal Expense - 5/1	$  888,000	$	-	$	888,000	$	888,000	$ 1,124,000	
Special Call 5/1	$	-	$	-	$	8,000	$	8,000	$	-	
Series 2018A-2						
Interest 11/1	$	58,638	$	58,613	$	-	$	58,613	$	54,313	
Special Call 11/1	$	-	$	5,000	$	-	$	5,000	$	-	
Interest 5/1	$	58,638	$	-	$	58,488	$	58,488	$	54,313	
Principal 5/1	$  120,000	$	-	$	120,000	$	120,000	$  125,000	
Special Call 5/1	$	-	$	-	$	60,000	$	60,000	$	-	

Other Sources (Uses):										
Transfer Out to Escrow	$	-		$ 19,072,766		$	-		$ 19,072,766		$	-	
Cost of Issuance	$	-		$	300,290		$	-		$	300,290		$	-	
Total Expenses	 $ 3,058,152 		 $ 19,828,327 		 $ 1,266,048 		 $ 21,094,375 		 $ 1,783,905 	
EXCESS REVENUES / (EXPENDITURES)	$  (221,664)		$  1,434,298		$ (1,243,563)		$	190,736		$  281,657	

Interest November 1, 2023	Series 2022	$203,583	
	Series 2018-2		$51,500 	
			$255,083 	

Community Development District	Series 2022, Special Assessment Refunding Bonds

	DATE				BALANCE				PRINCIPAL				INTEREST				TOTAL		
05/01/2022		$17,746,000		$888,000		$131,494.18		$1,019,494.18	
11/01/2022						$213,139.88		$1,550,279.76	
05/01/2023		$16,858,000		$1,124,000		$213,139.88			
11/01/2023						$203,583.07		$1,552,166.14	
05/01/2024		$15,734,000		$1,145,000		$203,583.07			
11/01/2024						$192,491.46		$1,552,982.92	
05/01/2025		$14,589,000		$1,168,000		$192,491.46			
11/01/2025						$180,273.01		$1,553,546.02	
05/01/2026		$13,421,000		$1,193,000		$180,273.01			
11/01/2026						$167,021.76		$1,555,043.52	
05/01/2027		$12,228,000		$1,221,000		$167,021.76			
11/01/2027						$152,690.88		$1,555,381.76	
05/01/2028		$11,007,000		$1,250,000		$152,690.88			
11/01/2028						$137,296.51		$1,556,593.02	
05/01/2029		$9,757,000		$1,282,000		$137,296.51			
11/01/2029						$120,865.12		$1,556,730.24	
05/01/2030		$8,475,000		$1,315,000		$120,865.12			
11/01/2030						$103,409.81		$1,557,819.62	
05/01/2031		$7,160,000		$1,351,000		$103,409.81			
11/01/2031						$84,889.62		$1,559,779.24	
05/01/2032		$5,809,000		$1,390,000		$84,889.62			
11/01/2032						$65,273.94		$1,560,547.88	
05/01/2033		$4,419,000		$1,430,000		$65,273.94			
11/01/2033						$44,592.57		$1,561,185.14	
05/01/2034		$2,989,000		$1,472,000		$44,592.57			
11/01/2034						$22,844.50		$1,562,689.00	
05/01/2035		$1,517,000		$1,517,000		$22,844.50			
11/01/2035									
				$17,746,000		$3,508,238.44		$21,254,238.44	

Community Development District	Series 2018-2, Special Assessment Refunding Bonds

	DATE				BALANCE				PRINCIPAL				INTEREST				TOTAL		
05/01/22		$2,365,000		$180,000		$58,488		$297,125	
11/01/22		$2,185,000				$54,313			
05/01/23		$2,185,000		$125,000		$54,313		$233,625	
11/01/23		$2,060,000				$51,500			
05/01/24		$2,060,000		$130,000		$51,500		$233,000	
11/01/24		$1,930,000				$48,250			
05/01/25		$1,930,000		$135,000		$48,250		$231,500	
11/01/25		$1,795,000				$44,875			
05/01/26		$1,795,000		$140,000		$44,875		$229,750	
11/01/26		$1,655,000				$41,375			
05/01/27		$1,655,000		$150,000		$41,375		$232,750	
11/01/27		$1,505,000				$37,625			
05/01/28		$1,505,000		$155,000		$37,625		$230,250	
11/01/28		$1,350,000				$33,750			
05/01/29		$1,350,000		$165,000		$33,750		$232,500	
11/01/29		$1,185,000				$29,625			
05/01/30		$1,185,000		$175,000		$29,625		$234,250	
11/01/30		$1,010,000				$25,250			
05/01/31		$1,010,000		$185,000		$25,250		$235,500	
11/01/31		$825,000				$20,625			
05/01/32		$825,000		$190,000		$20,625		$231,250	
11/01/32		$635,000				$15,875			
05/01/33		$635,000		$200,000		$15,875		$231,750	
11/01/33		$435,000				$10,875			
05/01/34		$435,000		$210,000		$10,875		$231,750	
11/01/34		$225,000				$5,625			
05/01/35		$225,000		$225,000		$5,625		$236,250	
	11/1/35 				 			 			 		
	Total 					$2,185,000 			$839,125 			$3,024,125 	

Operation and Maintenance Assessment Allocation

Description	
Single Family	
Multi-Family	High Density
Mulit-Family	High Density
MF & Aquatics	Commercial/
Office	
Total	

Units	
1,059	
1065  (1)	
228  (2)	
704 (3)	
330,000  Sq.Ft.		
Gross Per Units	$	868.40	$	670.99	$	611.21	$	521.10	$	0.57		
Gross Assessment	$	919,633	$	714,602	$	139,355	$	366,855	$	189,039	$	2,329,485	
Net Assessment (.94)	$	865,582	$	672,602	$	131,165	$	345,293	$	177,929	$	2,192,571	

Allocation By Fund

Total	$	2,192,572

General Fund Recreation Fund

$	217,187
$	1,975,385

Includes Cambridge 172 units, Coventry 130 units, Chestnut Ridge 148 units, Briar Oaks 209 units, Willow Brook 187 units, Plantation Oats 156 units, and Jennings Point 54 units.

Includes Preserve 228 units.

Includes Millstone Village 160 units, Fieldstone 352 units and Jennings Point at 246 units.

FY 2022	FY 2023	$ Increase	% Increase	

Single Family	
$	723.77	
$	868.40	
$	144.63	
19.98%	
Multi-Family	$	588.41	$	670.99	$	82.58	14.03%	
High Density Mulit-Family	$	550.18	$	611.21	$	61.03	11.09%	
High Density MF & Aquatics	$	488.03	$	521.10	$	33.07	6.78%	
Commercial/Office	$	0.34	$	0.57	$	0.23	68.14%	

Debt Service Series 2018-1 (2022)/2018-2 Assessment Allocation

Per Unit	Per Unit	Gross
Unit Type	Units	ssessments FY 22 Assessments FY 23	Assessment	$ Decrease	% Decrease

Single Family	1,059	$977.11	$854.09	$904,478	-$123.02	-12.59%	
Multi-Family	1,370	$692.54	$578.58	$792,648	-$113.96	-16.46%	
mmercial (Sq.Ft)	330,000	$0.76	$0.64	$209,749	-$0.12	-16.37%	
Total Gross Assessment	$	1,906,875		
Less: Discounts and Collections (6%)	 $	107,936 		
Total Net Assessment	 $	1,798,939 		

Middle Village		
Community Development District								Capital	Reserve Fund	
		Adopted		Actual		Next		Projected	
Approved	

 Description			Budget
	FY 2022			
  04/30/22 		5
	Months			
 Thru 9/30/22 	Budget
  FY 2023		
REVENUES:										
Carryforward		$ 1,578,027		$ 1,547,991		$	-		$ 1,547,991	$1,168,634	
Interest		$	1,200		$	600		$	500		$	1,100	$	1,200	
Capital Reserve - Rec Fund		$	-		$	-		$	-		$	-	$ 250,000	
General Reserve - General Fund		$	19,556		$	-		$	19,556		$	19,556	$	13,917	
TOTAL REVENUES		$ 1,598,783		$1,548,591		$	20,056		$ 1,568,647	########	

EXPENDITURES:										
Repair Replacements		$	125,000		$  233,341		$	166,672		$	400,013	$ 400,775	
TOTAL EXPENDITURES		$  125,000		$  233,341		$  166,672		$	400,013	$ 400,775	
										
EXCESS REVENUES (EXPENDITURES)		$ 1,473,783		$1,315,250		$ (146,616)		$ 1,168,634	########	

Middle Vilage CDD
Reserve Study Funding Plan
(Next 5 Years)

Fiscal Year	Beginning
Balance	
Add Funding	
Add Interest	
Less Expenses	Ending
Balance (budget)	Planned
Balance (Study)	% of
Planned	Replacment
Cost (Study)	

2023	
$1,344,627	
$263,917	
$0	
($400,775)	
$1,207,769	
$1,683,563	
72%	
$3,193,245	
2024	$1,207,769	$266,557	$208	($88,044)	$1,386,490	$1,865,281	74%	$3,384,839	
2025	$1,386,490	$269,222	$2,806	($30,483)	$1,628,035	$2,031,678	80%	$3,554,081	
2026	$1,628,035	$271,914	$3,497	($322,311)	$1,581,135	$2,195,262	72%	$3,696,244	

23

Middle Village Community Development District
Exhibit “A”

Allocation of Operating Reserves

Estimated Funds Available - First Quarter Operating Capital

General Fund - Beginning Fund Balance - 10/1/21	$	347,415	
Recreation Fund - Beginning Fund Balance - 10/1/21	$	1,336,185	
Estimated General Excess Revenues - Fiscal Year 2022	$	8,784	
Estimated Recreation Excess Revenues- Fiscal Year 2022	$	33,940	
Total Estimated Operating Funds Available - 9/30/2022	 $	1,726,325 	

Allocation of Funds Available - First Quarter Operating Capital

General Fund Operating Reserve - First Quarter Operating Capital	$	54,384	
Recreation Fund Operating Reserve - First Quarter Operating Capital	 $	527,987 	
Total Reserve	 $	582,371 	
Total Working Capital Surplus	 $	1,143,953 	

Projected Capital Reserve Funds Available for FY 2023

Capital Reserve Funds - Beginning Fund Balance

Capital Reserve- Beginning Fund Balance - 10/1/21	$	1,547,991	
Projected Capital Excess Revenues - Fiscal Year 2022	 $	(379,357) 	
Total Estimated Reserve Funds Available - 9/30/22	$	1,168,634	
Recreation Fund - General Reserve	$	250,000	
General Fund - Reserves	 $	13,917 	
Total Funding Fiscal Year 2023	$	263,917	
Total Estimate Reserve Fund Balances - 9/30/23	 $	1,432,551 	

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