Title: MV FY27 APPROVED
Author: Oksana Kuzmuk

Middle Village
Community Development District

Middle Village
Community Development District
Budget Narrative General Fund
Fiscal Year 2027

Middle Village
Community Development District
Budget Narrative Recreation Fund
Fiscal Year 2027

Middle Village

Community Development District

Adopted Budget
FY 2027

Presented by:

Table of Contents

3

4-5

6

7-10

11

12

13

14

	General Fund

	General Fund Narratives

	Recreation Fund

	Recreation Fund Narratives

	Debt Service Fund Series 2022/2018

	Amortization Schedule 2022

	Amortization Schedule 2018

	Capital Reserve Fund

16		Assessment Allocation

Adopted Budget General Fund

| Adopted Budget | Actuals Thru | Projected Next | Projected Thru | Adopted Budget
Description | FY 2026 | 7/31/26 | 2 Months | 9/30/26 | FY 2027
REVENUES: | | | | |
Special Assessments - On Roll | $	200,594 | $	201,229 | $	- | $	201,229 | $	208,519
Interest income | 1,000 | 37,920 | 1,000 | 38,920 | 10,000
TOTAL REVENUES | $	201,594 | $	239,150 | $	1,000 | $	240,150 | $	218,519
EXPENDITURES: | | | | |
Administrative | | | | |
Supervisors Fees | $	12,000 | $	9,200 | $	2,000 | $	11,200 | $	12,000
FICA Expense | 918 | 704 | 153 | 857 | 918
Travel per Diem | 200 | - | 100 | 100 | -
Engineering | 8,000 | 8,441 | 6,000 | 14,441 | 16,000
Trustee Fee | 15,000 | 19,202 | 5,250 | 24,452 | 20,250
Dissemination Agent | 4,129 | 3,791 | 688 | 4,479 | 4,780
Assessment Roll Administration | 8,907 | 8,907 | - | 8,907 | 9,442
Attorney | 40,000 | 14,878 | 8,000 | 22,878 | 37,000
Arbitrage Rebate | 700 | 600 | 700 | 1,300 | 700
Annual Audit | 6,800 | 6,900 | - | 6,900 | 7,000
Management Fees | 76,509 | 63,758 | 12,751 | 76,509 | 81,099
Information Technology | 3,008 | 2,507 | 502 | 3,008 | 3,189
Telephone | 300 | 238 | 62 | 300 | 300
Postage | 1,500 | 3,400 | 500 | 3,900 | 1,500
Printing | 2,500 | 3,467 | 500 | 3,967 | 2,500
Insurance General Liability | 15,443 | 14,547 | - | 14,547 | 16,002
Legal Advertising | 2,500 | 904 | 1,596 | 2,500 | 2,500
Other Current Charges | 150 | 46 | 104 | 150 | 150
Office Supplies | 200 | 8 | 192 | 200 | 200
Website Maintenance | 2,655 | 2,213 | 442 | 2,655 | 2,814
Dues, Licenses & Subscriptions | 175 | 175 | - | 175 | 175
TOTAL ADMINISTRATIVE | $	201,594 | $	163,884 | $	39,540 | $	203,424 | $	218,519
TOTAL EXPENDITURES | $	201,594 | $	163,884 | $	39,540 | $	203,424 | $	218,519
EXCESS REVENUES (EXPENDITURES) | $	- | $	75,266 | $	(38,540) | $	36,726 | $	-

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.
Interest
The District earns interest on the monthly average collected balance for each of their investment accounts.

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 12 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 engineering firm provides general engineering services to the District, including attending and preparing for monthly board meetings, reviewing invoices, etc. England, Thims & Miller serves as the District's engineering firm.
Trustee Fees
The trustee fees for the District's Series 2018 and 2022 Bonds are 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.
Vendor | Description | Monthly | Annual
GMS | Dissemination Agent | $	365 | $	4,380
Disclosure Services | Revised Amortization Schedules | | 400
| Total | | $	4,780
Assessment Roll Administration
GMS, LLC provides assessment services for closing lot sales, assessment roll services with the local Tax Collector and financial advisory services.
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. Kutak Rock LLP serves as the District’s legal counsel.
Arbitrage Rebate
The District is required to annually have an arbitrage rebate calculation on the District’s Series 2018/2002 Bonds. Grau & Associates 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 & 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. The budgeted amount for the fiscal year is based on the contracted fees outlined in Exhibit "A" of the Management Agreement.
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.
Telephone
Internet and Wi-Fi service for Office.
Postage
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.

Expenditures - Administrative (continued)

Printing
Copies used in the preparation of agenda packages, required mailings, and other special projects.
Insurance General Liability
The District's General Liability & Public Officials Liability Insurance policy is with Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.
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
This includes monthly bank charges and any other miscellaneous expenses that incur during the year.
Office Supplies
Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects.
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.
Dues, Licenses & Subscriptions
The District is required to pay an annual fee to the Florida Department of Commerce for $175.

Adopted Budget Recreation Fund

| Adopted Budget | Actuals Thru | Projected Next | Projected Thru | Adopted Budget
Description | FY 2026 | 7/31/26 | 2 Months | 9/30/26 | FY 2027
REVENUES: | | | | |
Special Assessments - Tax Roll | $  2,256,317 | $  2,263,463 | $	- | $  2,263,463 | $  2,369,895
Interest Income | 5,000 | 16,302 | 800 | 17,102 | 5,000
Miscellaneous Revenue | 1,000 | - | 500 | 500 | 1,000
Amenities Revenue | 100,000 | 98,057 | 11,943 | 110,000 | 100,000
TOTAL REVENUES | $ 2,362,317 | $ 2,377,821 | $	13,243 | $ 2,391,064 | $ 2,475,895
EXPENDITURES: | | | | |
Administrative | | | | |
Management Fees - On Site Staff | $	374,481 | $	312,068 | $	62,414 | $	374,481 | $	393,206
Insurance | 97,141 | 90,011 | - | 90,011 | 90,011
Other Current Charges | 6,000 | 5,827 | 173 | 6,000 | 6,000
Permit Fees | 1,650 | 1,931 | - | 1,931 | 1,650
TOTAL ADMINISTRATIVE | $  479,272 | $  409,836 | $	62,587 | $  472,423 | $  490,867
Operations & Maintenance | | | | |
Common Area Maintenance | | | | |
Security | $	136,335 | $	81,362 | $	54,973 | $	136,335 | $	115,731
Security Clay County | 47,304 | 18,990 | 28,314 | 47,304 | 50,615
Electric | 18,000 | 17,538 | 13,000 | 30,538 | 23,400
Streetlighting | 32,400 | 26,239 | 6,161 | 32,400 | 32,400
Irrigation Maintenance | 5,000 | 1,660 | 2,500 | 4,160 | 15,000
Landscape Maintenance | 557,230 | 464,358 | 92,872 | 557,230 | 573,947
Common Area Maintenance | 84,000 | 60,454 | 23,546 | 84,000 | 89,040
Lake Maintenance | 25,000 | 18,140 | 6,860 | 25,000 | 25,000
TOTAL COMMON AREA MAINTENANCE | $  905,269 | $  688,741 | $  228,226 | $  916,967 | $  925,133
Recreation Facility | | | | |
Amenity Staff | $	190,000 | $	182,164 | $	7,836 | $	190,000 | $	214,996
Janitorial | 62,475 | 54,618 | 7,857 | 62,475 | 66,224
Telephone | 18,000 | 3,739 | 1,500 | 5,239 | 10,000
Electric | 69,600 | 45,996 | 15,004 | 61,000 | 61,200
Water / Sewer | 54,200 | 61,360 | 10,000 | 71,360 | 71,100
Gas/Heat (Pool) | 20,000 | 23,824 | - | 23,824 | 24,000
Refuse Service | 42,000 | 61,579 | 14,000 | 75,579 | 76,800
Pool Maintenance & Chemicals | 43,000 | 43,729 | 1,500 | 45,229 | 54,000
Cable | 8,000 | 6,923 | 1,078 | 8,000 | 8,576
Special Events | 10,000 | 6,768 | 1,500 | 8,268 | 12,000
Office Supplies and Equipment | 1,500 | 445 | 500 | 945 | 1,000
Facility Maintenance - General | 68,250 | 51,020 | 16,230 | 67,250 | 71,663
Facility Maintenance - Preventive Contracts | 15,950 | 3,290 | 5,000 | 8,290 | 10,000
Facility Maintenance - Contingency | 7,875 | 4,635 | 3,240 | 7,875 | 7,875
Elevator Maintenance | 10,000 | 1,035 | 8,965 | 10,000 | 10,000
Recreation Passes | 4,000 | 3,032 | 968 | 4,000 | 4,000
Lighting Repairs | 12,000 | 6,773 | 5,227 | 12,000 | 12,000
Tennis Court Maintenance | 69,011 | 60,658 | 7,353 | 68,011 | 72,462
Capital Reserve | 271,914 | 271,914 | - | 271,914 | 272,000
TOTAL RECREATION FACILITY | $  977,776 | $  893,502 | $  107,758 | $ 1,001,260 | $ 1,059,896
TOTAL EXPENDITURES | $ 2,362,317 | $ 1,992,080 | $  398,570 | $ 2,390,650 | $ 2,475,895
EXCESS REVENUES (EXPENDITURES) | $	- | $  385,741 | $  (385,327) | $	414 | $	-

REVENUES

Special Assessments-Tax Roll
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.
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.
Miscellaneous Revenue
Any revenues not mentioned above.
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.

Expenditures - Administrative

Management Fees - On Site Staff
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 and Liability Insurance policy is with Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.
Other Current Charges
This includes monthly bank charges and any other miscellaneous expenses incurred during the year.
Permit Fees
Costs of various occupational licenses and pool permits.
Description | Annual
Competition Pool Permit | $	300
Family Pool Permit | 300
Spray Pool Permit | 200
ASCAP/BMI/MOOD/Pandora | 850
Total | $	1,650

Expenditures – Common Area Maintenance

Security
The District will have a contract with S3 Security, a security company, to provide Athletic Center and common-area security services and a roving guard.
Description	Monthly	Annual

Security Clay County

Security Contract

$	9,644  $

115,731

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

Expenditures – Common Area Maintenance (continued)

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

Account # | Description | Monthly | Annual
6082986 | 885 Misty Oak Drive | $	50 | $	600
6144521 | 384 Oakleaf Plantation Blvd | 80 | 960
6177042 | 726-1 Chestnut Chase Drive | 50 | 600
6214282 | 707 Oak Leaf Plantation Pkwy | 100 | 1,200
6411763 | 4222-1 Plantation Oaks Blvd | 400 | 4,800
7131568 | 893-1 Cardinal Hills Street | 50 | 600
7131600 | 508-1 Chestwood Chase Drive | 50 | 600
7131634 | 3215-1 Live Oak Hollow Drive | 50 | 600
7131642 | 1016-1 Oakleaf Plantation Parkway | 50 | 600
7131691 | 1225-1 Deerview Lane | 50 | 600
7138258 | 3786-1 Timberline Drive | 50 | 600
7709488 | 711-1 Oak Leaf Plantation | 90 | 1,080
7778707 | 4219-1 Planation Oaks Blvd | 110 | 1,320
8339848 | 1097-1 Oakleaf Plantation U/G | 70 | 840
8455321 | 713-1 Oakleaf Plantation Pkwy | 450 | 5,400
8455347 | 573-2 Oakleaf Plantation Pkwy | 100 | 1,200
5829387 | 1071 Deer View LN | 50 | 600
Contingency		100	1,200
Total | $	1,950 | $	23,400
Streetlighting
The cost of roadway lighting provided by Clay Electric Cooperative, Inc.:

Account #

Description

Monthly	Annual

6301196

Westside of Brannanfield

$	2,600  $

31,200

Contingency		100	1,200 

Irrigation Maintenance

Total

$	2,700  $

32,400

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

Common Area Maintenance

Landscape Contract

$	47,829  $

573,947

Represents the estimated day-to-day maintenance of the District's common areas. Services include:

-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 stocking 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

$	1,917  $

23,000

Contingency		167	2,000 

Total

$	2,083  $

25,000

Expenditures – Recreation 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 the pool operating season, mid-March through October.
Janitorial
The District has contracted with Riverside Management to provide janitorial services to the District.
Description	Monthly	Annual

Telephone

Janitorial Contract

$	5,519  $

66,224

The Amenity Center currently pays AT&T for 2 phone lines. The amounts are based upon the following:
Description	Monthly	Annual

Electric

AT&T Telephone Contract

$	1,500  $

10,000

Cost of electric billed to the District by Clay Electric for the Amenity Center.
Account #	Description	Monthly	Annual

6301188
8353831

845 Oakleaf Plantation Pkwy
853 Oakleaf Plantation Pkwy (Pool)

$	3,500  $
1,500  $

42,000
18,000

Contingency		100  $	1,200 

Water/Sewer

Total

$	5,100  $

61,200

Cost of water and sewer service from JEA and Clay County Utility Authority for the Amenity Center.
Account #	Description	Monthly	Annual

94337379

845 Oakleaf Plantation - Water

$	500  $

6,000

94337379
514013067

845 Oakleaf Plantation - Sewer 845 Oakleaf Plantation - Pool

1,100	13,200
	1,500	18,000 

| Total JEA | $	3,100 | $	37,200
A00011541 | 3214-1 Tower Oaks Drive Rec | $	1,500 | $	18,000
A00013767 | 701-1 Turkey Point Drive Rec | 30 | 360
A00013768 | 878-1 Songbird Drive Rec | 60 | 720
A00013769 | 738-1 Chestwood Chase Drive | 85 | 1,020
A00014209 | 3214-2 Tower Oaks Drive Rec | 150 | 1,800
A00016729 | 1089 Oakleaf Plantation Pkwy | 500 | 6,000
A00016730 | 1092 Oakleaf Plantation Pkwy | 30 | 360
A00016858 | 3713-1 Chasing Falls Rd Rec/Irrig | 50 | 600
A00016856 | 533-1 Southwood Way Irrig | 100 | 1,200

A00016857

533-2 Southwood Way Rec/Irrig

	70	840 

Total CCUA

$	2,575  $

30,900

Contingency		250	3,000 

Gas/Heat (Pool)

Total Water/Sewer/Reclaim

$	5,925  $

71,100

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 Republic Services for the Amenity Center, consisting of two 6-cubic-yard waste containers with two pickups per week.
Description	Monthly	Annual

Refuse

$	6,300  $

75,600

Contingency		100	1,200 

Total

$	6,400  $

76,800

Expenditures – Recreation Facility (continued)

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/Chemicals

$	4,500  $

54,000

Contingency		-	- 

Cable

Total

$	4,500  $

54,000

The District currently uses Comcast for cable services.
Description	Monthly	Annual

Tennis

$	95  $

1,136

Fitness		620	7,440 

Special Events

Total

$	715  $

8,576

Monthly events and organized functions the Amenity Center Director provides for all residents of Oakleaf Plantation.
Office Supplies & 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 Contracts
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

$	725  $

8,700

Inspection Contingency

-	250
	88	1,050 

Recreation Passes

Total

$	813  $

10,000

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.

Adopted Budget
Debt Service Series 2018A-2 and 2022 Special Assessment Refunding Bonds

| | Adopted Budget | Actuals Thru | Projected Next | Projected Thru | Adopted Budget
Description | FY 2026 | 7/31/26 | 2 Months | 9/30/26 | FY 2027
REVENUES: | | | | | |
Special Assessments-On Roll | $	1,772,172 | $	1,746,346 | $	- | $	1,746,346 | $	1,740,780
Interest Earnings | 10,000 | 26,081 | 1,000 | 27,081 | 10,000
Carry Forward Surplus ^(1) | 286,980 | 411,823 | - | 411,823 | 391,143
TOTAL REVENUES | $ 2,069,152 | $ 2,184,250 | $	1,000 | $  2,185,250 | $ 2,141,924
EXPENDITURES: | | | | |
Series 2022 | | | | |
Interest 11/1 | $	177,708 | $	177,708 | $	- | $	177,708 | $	165,262
Principal Prepayment 11/1 | - | 4,000 | - | 4,000 | -
Interest 5/1 | 177,708 | 177,649 | - | 177,649 | 165,262
Principal 5/1 | 1,178,000 | 1,178,000 | - | 1,178,000 | 1,205,000
Series 2018A-2 | | | | |
Interest 11/1 | 43,750 | 43,750 | - | 43,750 | 39,625
Principal Prepayment 11/1 | - | 30,000 | - | 30,000 | -
Interest 5/1 | 43,750 | 43,000 | - | 43,000 | 39,625
Principal 5/1 | 140,000 | 140,000 | - | 140,000 | 145,000
TOTAL EXPENDITURES | $ 1,760,915 | $ 1,794,107 | $	- | $  1,794,107 | $ 1,759,773
Other Sources/(Uses)
Interfund transfer In/(Out) | $	- | $	- | $	- | $	- | $	-
TOTAL OTHER SOURCES/(USES) | $	- | $	- | $	- | $	- | $	-

TOTAL EXPENDITURES | $ 1,760,915 | $ 1,794,107 | $	- | $  1,794,107 | $ 1,759,773
EXCESS REVENUES (EXPENDITURES) | $	308,237 | $	390,143 | $	1,000 | $	391,143 | $	382,150

^(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/27

 $	186,422 

AMORTIZATION SCHEDULE
Debt Service Series 2022 Special Assessment Refunding Bonds

Period | Outstanding Balance | Coupons | Principal | Interest | Annual Debt Service
11/01/26 | 12,049,000 | | | 165,262 | 165,262
05/01/27 | 12,049,000 | 2.4631% | 1,205,000 | 165,262 |
11/01/27 | 10,844,000 | | | 150,422 | 1,520,683
05/01/28 | 10,844,000 | 2.4631% | 1,233,000 | 150,422 |
11/01/28 | 9,611,000 | | | 135,237 | 1,518,658
05/01/29 | 9,611,000 | 2.5634% | 1,264,000 | 135,237 |
11/01/29 | 8,347,000 | | | 119,036 | 1,518,272
05/01/30 | 8,347,000 | 2.6548% | 1,297,000 | 119,036 |
11/01/30 | 7,050,000 | | | 101,819 | 1,517,855
05/01/31 | 7,050,000 | 2.7417% | 1,332,000 | 101,819 |
11/01/31 | 5,718,000 | | | 83,560 | 1,517,379
05/01/32 | 5,718,000 | 2.8224% | 1,368,000 | 83,560 |
11/01/32 | 4,350,000 | | | 64,255 | 1,515,814
05/01/33 | 4,350,000 | 2.8925% | 1,408,000 | 64,255 |
11/01/33 | 2,942,000 | | | 43,891 | 1,516,146
05/01/34 | 2,942,000 | 2.9549% | 1,449,000 | 43,891 |
11/01/34 | 1,493,000 | | | 22,483 | 1,515,374
05/01/35 | 1,493,000 | 3.0118% | 1,493,000 | 22,483 |
11/01/35 | - | | | - | 1,515,483
Total | | | $  12,049,000  $ | 1,771,928 | $  13,820,928

AMORTIZATION SCHEDULE
Debt Service Series 2018A-2 Special Assessment Refunding Bonds

Period | Outstanding Balance | Coupons | Principal | Interest | Annual Debt Service
11/01/26 | 1,580,000 | 5.000% | | $39,625 | $39,625
05/01/27 | 1,580,000 | 5.000% | 145,000 | 39,625 |
11/01/27 | 1,435,000 | 5.000% | | 36,000 | 220,625
05/01/28 | 1,435,000 | 5.000% | 150,000 | 36,000 |
11/01/28 | 1,285,000 | 5.000% | | 32,250 | 218,250
05/01/29 | 1,285,000 | 5.000% | 160,000 | 32,250 |
11/01/29 | 1,125,000 | 5.000% | | 28,250 | 220,500
05/01/30 | 1,125,000 | 5.000% | 165,000 | 28,250 |
11/01/30 | 960,000 | 5.000% | | 24,125 | 217,375
05/01/31 | 960,000 | 5.000% | 175,000 | 24,125 |
11/01/31 | 785,000 | 5.000% | | 19,750 | 218,875
05/01/32 | 785,000 | 5.000% | 185,000 | 19,750 |
11/01/32 | 600,000 | 5.000% | | 15,125 | 219,875
05/01/33 | 600,000 | 5.000% | 190,000 | 15,125 |
11/01/33 | 410,000 | 5.000% | | 10,375 | 215,500
05/01/34 | 410,000 | 5.000% | 200,000 | 10,375 |
11/01/34 | 210,000 | 5.000% | | 5,375 | 215,750
05/01/35 | 210,000 | 5.000% | 210,000 | 5,375 |
11/01/35 | - | 5.000% | | - | 215,375
Total | | $ | 1,580,000  $ | 421,750 | $	2,001,750

Adopted Budget Capital Reserve Fund

| Adopted Budget | Actuals Thru | Projected Next | Projected Thru | Adopted Budget
Description | FY 2026 | 7/31/26 | 2 Months | 9/30/26 | FY 2027
REVENUES: | | | | |
Transfer In from Recreation Fund | $	271,914 | $	271,914 | $	- | $	271,914 | $	272,000
Interest | 15,000 | 32,881 | 1,000 | 33,881 | 20,000
Carry Forward Balance | 1,157,673 | 1,114,222 | - | 1,114,222 | 1,187,858
TOTAL REVENUES | $ 1,444,587 | $ 1,419,017 | $	1,000 | $ 1,420,017 | $ 1,479,858
EXPENDITURES: | | | | |
Capital Outlay | | | | |
Repairs & Replacements	$	250,000 | $	207,158 | $	25,000 | $	232,158 | $	250,000
^TOTAL ^EXPENDITURES	$	250,000 | $	207,158 | $	25,000 | $	232,158 | $	250,000
Other Sources/(Uses) | | | | |
Transfer in/(Out) | $	- | $	- | $	- | $	- | $	-
TOTAL OTHER SOURCES/(USES) | $	- | $	- | $	- | $	- | $	-
TOTAL EXPENDITURES | $	250,000 | $	207,158 | $	25,000 | $	232,158 | $	250,000
EXCESS REVENUES (EXPENDITURES) | $ 1,194,587 | $ 1,211,858 | $	(24,000) | $ 1,187,858 | $ 1,229,858

Exhibit "A" Allocation of Operating Reserve

Allocation of Operating Reserves

Estimated Funds Available

General Fund - Beginning Fund Balance - 10/1/25 | $	209,418
Recreation Fund - Beginning Fund Balance - 10/1/25 | 1,115,221
Estimated General Excess Revenues - Fiscal Year 2026 | 36,726
Estimated Recreation Excess Revenues- Fiscal Year 2026 | 414

Total Estimated Operating Funds Available - 9/30/2026

 $	1,361,779 

Allocation of Funds Available

General Fund Operating Reserve - First Quarter Operating Capital | $	54,630
Recreation Fund Operating Reserve - First Quarter Operating Capital | 550,974
Total Reserve | $	605,603
Total Working Capital Surplus | $	756,176

Capital Reserve- Beginning Fund Balance - 10/1/25 | $	1,114,222
Projected Capital Excess Revenues - Fiscal Year 2026 | 73,636
Total Estimated Reserve Funds Available - 9/30/26 | $	1,187,858

Interest Earned

$	20,000

Capital Projects Reserve	272,000

Total Funding FY 2027

 $	292,000 

Capital Reserve Estimated Expenditure - 9/30/27

$	(250,000)

Total Estimate Reserve Fund Balances - 9/30/27

 $	1,229,858 

Non-Ad Valorem Assessments Comparison 2026-2027

Neighborhood

O&M

Bonds 2018/22
Units

Annual Maintenance Assessments

Annual Debt Assessments

| FY 2027 | FY 2026 | Increase/ (decrease) | FY 2027 | FY 2026 | Increase/ (decrease)
Single Family | 1,059 | 1,052 | $998.62 | $953.88 | $44.74 | 4% | $851.86 | $851.86 | $0.00
Multi Family | 1,047 | 845 | $771.78 | $732.56 | $39.22 | 5% | $609.16 | $609.16 | $0.00
High Density MF | 228 | 227 | $703.11 | $665.56 | $37.55 | 5% | $609.16 | $609.16 | $0.00
High Density MF & Aquatics | 704 | 192 | $703.11 | $665.56 | $37.55 | 5% | $609.16 | $609.16 | $0.00
Commercial/Office | 330,000 | 280,900 | $0.652 | $0.635 | $0.02 | 3% | $0.66 | $0.66 | $0.00
Total | 333,038 | 283,216 | | | | | | |

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