Holly Hill Road East
Community Development District

Proposed Budget
FY2023

Table of Contents

1-2		General Fund	

3-7	
	General Fund Narrative	

8	
	Series 2017 Debt Service Fund	

9-10	
	Series 2017 Amortization	

11	
	Series 2018 Debt Service Fund	

12-13	
	Series 2018 Amortization	

14	
	Series 2020 A3 Debt Service Fund	

15-16	
	Series 2020 A3 Amortization	

17	
	Series 2020 A4 Debt Service Fund	

18-19	
	Series 2020 A4 Amortization	

20	
	Capital Reserve Fund	

	Adopted Budget	Actual Thru	Projected Next	Total Projected	Proposed Budget	
	FY 2022	3/31/22	6 Months	9/30/22	FY 2023	

Revenues						
Assessments - Tax Roll	$	486,820	$	476,921	$	9,899	$	486,820	$	565,628	
Inta-Governmental Revenue	$	57,994	$	28,808	$	29,582	$	58,390	$	73,814	
Other Income	$	-	$	60	$	-	$	60	$	-	
Total Revenues	$	544,815	$	505,789	$	39,481	$	545,270	$	639,442	

Expenditures						
Administrative:
Supervisor Fees	
$	12,000	
$	2,600	
$	6,000	
$	8,600	
$	12,000	
Engineering Fees	$	10,000	$	-	$	10,000	$	10,000	$	10,000	
Legal Services	$	35,000	$	6,407	$	24,500	$	30,907	$	25,000	
Arbitrage	$	1,800	$	900	$	900	$	1,800	$	1,800	
Dissemination	$	6,500	$	3,350	$	3,250	$	6,600	$	6,600	
Assessment Administration	$	5,000	$	5,000	$	-	$	5,000	$	5,000	
Annual Audit	$	4,000	$	-	$	4,000	$	4,000	$	4,000	
Trustee Fees	$	14,870	$	13,199	$	1,670	$	14,870	$	14,870	
Management Fees	$	36,050	$	18,025	$	18,025	$	36,050	$	37,853	
Information Technology	$	1,800	$	1,200	$	900	$	2,100	$	1,800	
Website Maintenance	$	1,200	$	600	$	600	$	1,200	$	1,200	
Telephone	$	200	$	-	$	100	$	100	$	200	
Postage & Delivery	$	500	$	57	$	250	$	307	$	500	
Printing & Binding	$	1,700	$	2	$	850	$	852	$	1,000	
Office Supplies	$	200	$	23	$	100	$	123	$	200	
Insurance	$	6,000	$	5,570	$	-	$	5,570	$	6,684	
Legal Advertising	$	5,000	$	1,600	$	2,500	$	4,100	$	2,500	
Contingency	$	3,500	$	288	$	900	$	1,188	$	1,200	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total Administrative	$	145,495	$	58,996	$	74,545	$	133,541	$	132,581	

Operations & Maintenance						
Field Expenditures
Field Management	
$	15,000	
$	7,500	
$	7,500	
$	15,000	
$	15,750	
Electric	$	3,720	$	3,862	$	10,200	$	14,062	$	20,400	
Streetlighting	$	40,800	$	13,803	$	15,600	$	29,403	$	36,960	
Water & Sewer	$	1,000	$	-	$	-	$	-	$	-	
Property Insurance	$	6,000	$	3,227	$	-	$	3,227	$	4,273	
Landscape Maintenance	$	125,000	$	61,697	$	65,000	$	126,697	$	130,000	
Landscape Replacement & Enhancements	$	20,000	$	3,188	$	10,000	$	13,188	$	22,000	
Irrigation Repairs	$	5,000	$	1,160	$	2,500	$	3,660	$	6,500	
Sidewalk Repairs & Maintenance	$	-	$	-	$	-	$	-	$	3,000	
General Repairs & Maintenance	$	15,000	$	3,020	$	8,750	$	11,770	$	17,500	
Contingency	$	2,680	$	4,897	$	3,750	$	8,647	$	7,500	
Subtotal Field Expenditures	$	234,200	$	102,353	$	123,300	$	225,653	$	263,883	

	Adopted Budget	Actual Thru	Projected Next	Total Projected	Proposed Budget	
	FY 2022	3/31/22	6 Months	9/30/22	FY 2023	

Amenity Expenditures						
Property Insurance	$	8,500	$	7,902	$	-	$	7,902	$	9,482	
Amenity Landscaping	$	20,000	$	9,294	$	10,500	$	19,794	$	21,000	
Amenity Landscape Replacement	$	7,500	$	-	$	7,500	$	7,500	$	7,500	
Electric	$	15,600	$	7,390	$	8,400	$	15,790	$	18,480	
Water	$	680	$	240	$	300	$	540	$	680	
Internet	$	2,100	$	1,146	$	1,080	$	2,226	$	2,376	
Janitorial Services	$	5,400	$	2,775	$	2,700	$	5,475	$	5,700	
Pest Control	$	600	$	250	$	300	$	550	$	660	
Amenity Access Management	$	5,000	$	2,500	$	2,500	$	5,000	$	5,000	
Security Services	$	-	$	-	$	-	$	-	$	30,000	
Amenity Repairs & Maintenance	$	15,000	$	4,225	$	7,500	$	11,725	$	15,000	
Pool Maintenance	$	16,200	$	8,100	$	8,100	$	16,200	$	18,000	
Playground Lease	$	51,600	$	25,677	$	25,800	$	51,477	$	51,600	
Contingency	$	3,440	$	1,835	$	3,750	$	5,585	$	7,500	
Subtotal Amenity Expenditures	$	151,620	$	71,333	$	78,430	$	149,763	$	192,978	
						
Total Operations & Maintenance	$	385,820	$	173,685	$	201,730	$	375,415	$	456,861	

Other Expenditures						
Transfer Out - Capital Reserve	$	13,500	$	-	$	-	$	-	$	50,000	
Total Other Expenditures	$	13,500	$	-	$	-	$	-	$	50,000	
						
Total Expenditures	$	544,815	$	232,681	$	276,275	$	508,956	$	639,442	
						
Excess Revenues/(Expenditures)	$	-	$	273,108	$	(236,794)	$	36,314	$	-	

Product Type	Assessable Units	ERU/Unit	Total ERUs	Net Assessment	Net Per Unit	Gross Per Unit	
Phase 1	204	1.00	204	$183,739.17	$900.68	$968.48	
Phase 2	100	1.00	100	$90,068.22	$900.68	$968.48	
Phase 3	182	1.00	182	$163,924.16	$900.68	$968.48	
Phase 4	142	1.00	142	$127,896.87	$900.68	$968.48	
	628		628	$565,628.43			
							
		FY2022 Gross Per Unit	FY2023 Gross Per Unit	Increase/(Decrease)			
		$833.54	$968.48	$134.94			

Revenues:

Assessments

The District will levy a non-ad valorem assessment on all the assessable property within the District in order to pay for operating expenditures during the fiscal year.

Intra-Governmental Revenue

The District has entered into an Interlocal Agreement with North Boulevard CDD for the use of its amenities. North Boulevard CDD funds a portion of the Districts amenity expenses are part of the agreement set in place.

Expenditures:

General & Administrative:

Supervisor Fees

Chapter 190, Florida Statutes, allows for each Board member to receive $200 per meeting, not to exceed
$4,800 per year paid to each Supervisor for the time devoted to District business and meetings.

Engineering

The District's engineer provides general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review invoices and various projects as directed by the Board of Supervisors and the District Manager.

Legal Services

The District's legal counsel, KE Law Group, PLLC, provides general legal services to the District, e.g. attendance and preparation for meetings, preparation and review of agreements, resolutions, etc. as directed by the Board of Supervisors and the District Manager.

Arbitrage

The District is contracted with AMTEC, an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on its Series 2017, Series 2018, Series 2020A3 and Series 2020A4 bonds.

Dissemination

The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(5) which relates to additional reporting requirements for unrated bond issues. This cost is based upon the Series 2017, Series 2018, Series 2020A3 and Series 2020A4 bonds. Governmental Management Services
– Central Florida, LLC completes these reporting requirements.

Assessment Administration

The District is contracted with Governmental Management Services – Central Florida, LLC to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis. The District is currently contracted with McDirmit Davis for these services.

Trustee Fees

The District will incur trustee related costs with the issuance of its’ issued bonds.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-Central Florida, LLC. The services include but are not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reports, annual audits, etc.

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. Governmental Management Services – Central Florida, LLC provides these systems.

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. Governmental Management Services – Central Florida, LLC provides these services.

Telephone

Telephone and fax machine.

Postage & Delivery

The District incurs charges for mailing of Board materials, overnight deliveries, correspondence, etc.

Printing & Binding

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

Office Supplies

Any supplies that may need to be purchased during the fiscal year, e.g., paper, minute books, file folders, labels, paper clips, etc.

Insurance

The District’s general liability and public official’s liability insurance coverage is provided by the 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, public hearings, etc. in a newspaper of general circulation.

Contingency

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

Dues, Licenses & Subscriptions

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

Operations & Maintenance:

Field Expenditures

Field Management

The District is contracted with Governmental Management Services-Central Florida, LLC for onsite field management of contracts for the District such as landscape and lake maintenance. Services include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Electric

Represents current and estimated electric charges of common areas throughout the District.

Streetlighting

Represents the cost to maintain street lights currently in place within the District Boundaries.

Water & Sewer

Represents estimated costs for water and refuse services provided for common areas throughout the District.

Property Insurance

The District’s property insurance coverage is provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Landscape Maintenance

Represents the estimated maintenance of the landscaping within the common areas of the District. Services include mowing, edging, trimming, pruning, weeding, irrigation inspections, fertilization and pest control applications. The District has contracted with Prince & Sons, Inc. to provide these services.

Landscape Replacements & Enhancements

Represents the estimated cost of replacing landscaping within the common areas of the District.

Irrigation Repairs

Represents the cost of maintaining and repairing the irrigation system. This includes the sprinklers, and irrigation wells.

Sidewalk & Asphalt Maintenance

Represents the estimated costs of maintaining the sidewalks and asphalt throughout the District’s Boundary.

General Repairs & Maintenance

Represents estimated costs for general repairs and maintenance of the District’s common areas. These can include pressure washing, and repairs to fences, monuments, lighting and other assets.

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any field category.

Amenity Expenditures

Property Insurance

The District’s property insurance coverage is provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies. This cost pertains to coverage for the amenity facility.

Amenity Landscaping

Represents landscape maintenance services at the Districts amenity facility. Services include mowing, edging, trimming, pruning, weeding, irrigation inspections, fertilization and pest control applications. The District has contracted with Prince & Sons, Inc. to provide these services.

Amenity Landscape Replacement

Represents the estimated cost of replacing landscaping surrounding the amenity facility.

Amenity - Electric

Represents estimated electric charges for the District’s amenity facility.

Amenity – Water

Represents estimated water charges for the District’s amenity facility.

Internet

Represents internet services in place at the amenity facility. This service is provided by Spectrum Business.

Janitorial Services

Represents the costs to provide janitorial services for the District’s amenity facilities. These services are provided by Clean Star Services of Central Florida, LLC.

Pest Control

The District is contracted with Orkin for pest control treatments to its amenity facility.

Amenity Access Management

Represents the cost of managing and monitoring access to the District’s amenity facilities.

Amenity Repairs & Maintenance

Represents estimated costs for repairs and maintenance of the District’s amenity facilities and equipment.

Pool Maintenance

Resort Pool Services has been contracted to provide regular cleaning and treatments of the District’s pool.

Playground Lease

The District has entered into a leasing agreement with Navitas, Inc. for playgrounds installed in the community.

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any amenity category.

Other Expenses:

Transfer Out – Capital Reserves

Funds collected and reserved for the replacement of and/or purchase of new capital improvements throughout the District.

Proposed Budget
Series 2017 Debt Service Fund

	Adopted Budget	Actuals Thru	Projected Next	Total Projected	Proposed Budget	
	FY 2022	3/31/22	6 Months	9/30/22	FY 2023	

Revenues						
Assessments	$	229,722	$	225,051	$	4,671	$	229,722	$	229,722	
Interest	$	-	$	7	$	-	$	7	$	-	
Carry Forward Surplus	$	117,864	$	117,867	$	-	$	117,867	$	122,969	
Total Revenues	$	347,586	$	342,925	$	4,671	$	347,597	$	352,692	

Expenditures						
Interest - 11/1	$	79,814	$	79,814	$	-	$	79,814	$	78,676	
Interest - 5/1	$	79,814	$	-	$	79,814	$	79,814	$	78,676	
Principal - 5/1	$	65,000	$	-	$	65,000	$	65,000	$	70,000	
Total Expenditures	$	224,628	$	79,814	$	144,814	$	224,628	$	227,353	
						
Excess Revenues/(Expenditures)	$	122,959	$	263,112	$	(140,142)	$	122,969	$	125,339	
				
Interest - 11/1/23	
$77,451	

	Series	2017 Special Assessment Bonds Amortization Schedule		
Date		Balance	Prinicpal	Interest	Total	
					
11/01/22	$	3,320,000.00	$	-	$	78,676.25	$	223,490.00	
05/01/23	$	3,320,000.00	$	70,000.00	$	78,676.25		
11/01/23	$	3,250,000.00	$	-	$	77,451.25	$	226,127.50	
05/01/24	$	3,250,000.00	$	70,000.00	$	77,451.25		
11/01/24	$	3,180,000.00	$	-	$	76,016.25	$	223,467.50	
05/01/25	$	3,180,000.00	$	75,000.00	$	76,016.25		
11/01/25	$	3,105,000.00	$	-	$	74,478.75	$	225,495.00	
05/01/26	$	3,105,000.00	$	80,000.00	$	74,478.75		
11/01/26	$	3,025,000.00	$	-	$	72,838.75	$	227,317.50	
05/01/27	$	3,025,000.00	$	80,000.00	$	72,838.75		
11/01/27	$	2,945,000.00	$	-	$	71,198.75	$	224,037.50	
05/01/28	$	2,945,000.00	$	85,000.00	$	71,198.75		
11/01/28	$	2,860,000.00	$	-	$	69,456.25	$	225,655.00	
05/01/29	$	2,860,000.00	$	90,000.00	$	69,456.25		
11/01/29	$	2,770,000.00	$	-	$	67,375.00	$	226,831.25	
05/01/30	$	2,770,000.00	$	95,000.00	$	67,375.00		
11/01/30	$	2,675,000.00	$	-	$	65,178.13	$	227,553.13	
05/01/31	$	2,675,000.00	$	95,000.00	$	65,178.13		
11/01/31	$	2,580,000.00	$	-	$	62,981.25	$	223,159.38	
05/01/32	$	2,580,000.00	$	100,000.00	$	62,981.25		
11/01/32	$	2,480,000.00	$	-	$	60,668.75	$	223,650.00	
05/01/33	$	2,480,000.00	$	105,000.00	$	60,668.75		
11/01/33	$	2,375,000.00	$	-	$	58,240.63	$	223,909.38	
05/01/34	$	2,375,000.00	$	110,000.00	$	58,240.63		
11/01/34	$	2,265,000.00	$	-	$	55,696.88	$	223,937.50	
05/01/35	$	2,265,000.00	$	115,000.00	$	55,696.88		
11/01/35	$	2,150,000.00	$	-	$	53,037.50	$	223,734.38	
05/01/36	$	2,150,000.00	$	120,000.00	$	53,037.50		
11/01/36	$	2,030,000.00	$	-	$	50,262.50	$	223,300.00	
05/01/37	$	2,030,000.00	$	125,000.00	$	50,262.50		
11/01/37	$	1,905,000.00	$	-	$	47,371.88	$	222,634.38	
05/01/38	$	1,905,000.00	$	135,000.00	$	47,371.88		
11/01/38	$	1,770,000.00	$	-	$	44,250.00	$	226,621.88	
05/01/39	$	1,770,000.00	$	140,000.00	$	44,250.00		
11/01/39	$	1,630,000.00	$	-	$	40,750.00	$	225,000.00	
05/01/40	$	1,630,000.00	$	145,000.00	$	40,750.00		
11/01/40	$	1,485,000.00	$	-	$	37,125.00	$	222,875.00	
05/01/41	$	1,485,000.00	$	155,000.00	$	37,125.00		
11/01/41	$	1,330,000.00	$	-	$	33,250.00	$	225,375.00	
05/01/42	$	1,330,000.00	$	160,000.00	$	33,250.00		
11/01/42	$	1,170,000.00	$	-	$	29,250.00	$	222,500.00	
05/01/43	$	1,170,000.00	$	170,000.00	$	29,250.00		
11/01/43	$	1,000,000.00	$	-	$	25,000.00	$	224,250.00	
05/01/44	$	1,000,000.00	$	180,000.00	$	25,000.00		
11/01/44	$	820,000.00	$	-	$	20,500.00	$	225,500.00	

	Series	2017 Special Assessment Amortization Schedule	Bonds		
Date		Balance	Prinicpal	Interest	Total	

05/01/45	
$	
820,000.00	
$	190,000.00	
$	20,500.00		
11/01/45	$	630,000.00	$	-	$	15,750.00	$	226,250.00	
05/01/46	$	630,000.00	$	200,000.00	$	15,750.00		
11/01/46	$	430,000.00	$	-	$	10,750.00	$	226,500.00	
05/01/47	$	430,000.00	$	210,000.00	$	10,750.00		
11/01/47	$	220,000.00	$	-	$	5,500.00	$	226,250.00	
05/01/48	$	220,000.00	$	220,000.00	$	5,500.00	$	225,500.00	
			$	3,320,000.00	$	2,606,107.50	$	6,070,921.25	

Proposed Budget
Series 2018 Debt Service Fund

	Adopted Budget	Actuals Thru	Projected Next	Total Projected	Proposed Budget	
	FY 2022	3/31/22	6 Months	9/30/22	FY 2023	

Revenues						
Assessments	$	123,938	$	121,418	$	2,520	$	123,938	$	123,313	
Interest	$	-	$	6	$	-	$	6	$	-	
Carry Forward Surplus	$	78,183	$	78,316	$	-	$	78,316	$	71,941	
Total Revenues	$	202,121	$	199,740	$	2,520	$	202,260	$	195,254	

Expenditures						
Special Call - 11/1	$	-	$	5,000	$	-	$	5,000	$	-	
Interest - 11/1	$	45,225	$	45,225	$	-	$	45,225	$	44,331	
Interest - 5/1	$	45,225	$	-	$	45,094	$	45,094	$	44,331	
Principal - 5/1	$	30,000	$	-	$	30,000	$	30,000	$	35,000	
Special Call - 5/1	$	-	$	-	$	5,000	$	5,000	$	-	
Total Expenditures	$	120,450	$	50,225	$	80,094	$	130,319	$	123,663	
						
Excess Revenues/(Expenditures)	$	81,671	$	149,515	$	(77,574)	$	71,941	$	71,591	
				
Interest - 11/1/23	
$43,588	

	Series	2018 Special Assessment Bonds Amortization Schedule		
Date		Balance	Prinicpal	Interest		Total	
						
11/01/22	$	1,730,000.00	$	-	$	44,331.25	$	44,331.25	
05/01/23	$	1,730,000.00	$	35,000.00	$	44,331.25			
11/01/23	$	1,695,000.00	$	-	$	43,587.50	$	122,918.75	
05/01/24	$	1,695,000.00	$	35,000.00	$	43,587.50			
11/01/24	$	1,660,000.00	$	-	$	42,843.75	$	121,431.25	
05/01/25	$	1,660,000.00	$	35,000.00	$	42,843.75			
11/01/25	$	1,625,000.00	$	-	$	41,968.75	$	119,812.50	
05/01/26	$	1,625,000.00	$	40,000.00	$	41,968.75			
11/01/26	$	1,585,000.00	$	-	$	40,968.75	$	122,937.50	
05/01/27	$	1,585,000.00	$	40,000.00	$	40,968.75			
11/01/27	$	1,545,000.00	$	-	$	39,968.75	$	120,937.50	
05/01/28	$	1,545,000.00	$	45,000.00	$	39,968.75			
11/01/28	$	1,500,000.00	$	-	$	38,843.75	$	123,812.50	
05/01/29	$	1,500,000.00	$	45,000.00	$	38,843.75			
11/01/29	$	1,455,000.00	$	-	$	37,718.75	$	121,562.50	
05/01/30	$	1,455,000.00	$	45,000.00	$	37,718.75			
11/01/30	$	1,410,000.00	$	-	$	36,593.75	$	119,312.50	
05/01/31	$	1,410,000.00	$	50,000.00	$	36,593.75			
11/01/31	$	1,360,000.00	$	-	$	35,343.75	$	121,937.50	
05/01/32	$	1,360,000.00	$	50,000.00	$	35,343.75			
11/01/32	$	1,310,000.00	$	-	$	34,093.75	$	119,437.50	
05/01/33	$	1,310,000.00	$	55,000.00	$	34,093.75			
11/01/33	$	1,255,000.00	$	-	$	32,718.75	$	121,812.50	
05/01/34	$	1,255,000.00	$	55,000.00	$	32,718.75			
11/01/34	$	1,200,000.00	$	-	$	31,343.75	$	119,062.50	
05/01/35	$	1,200,000.00	$	60,000.00	$	31,343.75			
11/01/35	$	1,140,000.00	$	-	$	29,843.75	$	121,187.50	
05/01/36	$	1,140,000.00	$	65,000.00	$	29,843.75			
11/01/36	$	1,075,000.00	$	-	$	28,218.75	$	123,062.50	
05/01/37	$	1,075,000.00	$	65,000.00	$	28,218.75			
11/01/37	$	1,010,000.00	$	-	$	26,512.50	$	119,731.25	
05/01/38	$	1,010,000.00	$	70,000.00	$	26,512.50			
11/01/38	$	940,000.00	$	-	$	24,675.00	$	121,187.50	
05/01/39	$	940,000.00	$	75,000.00	$	24,675.00			
11/01/39	$	865,000.00	$	-	$	22,706.25	$	122,381.25	
05/01/40	$	865,000.00	$	80,000.00	$	22,706.25			
11/01/40	$	785,000.00	$	-	$	20,606.25	$	123,312.50	
05/01/41	$	785,000.00	$	80,000.00	$	20,606.25			
11/01/41	$	705,000.00	$	-	$	18,506.25	$	119,112.50	
05/01/42	$	705,000.00	$	85,000.00	$	18,506.25			
11/01/42	$	620,000.00	$	-	$	16,275.00	$	119,781.25	
05/01/43	$	620,000.00	$	90,000.00	$	16,275.00			
11/01/43	$	530,000.00	$	-	$	13,912.50	$	120,187.50	

	Series	2018 Special Assessment Amortization Schedule	Bonds		
Date		Balance	Prinicpal	Interest	Total	

05/01/44	
$	
530,000.00	
$	95,000.00	
$	13,912.50		
11/01/44	$	435,000.00	$	-	$	11,418.75	$	120,331.25	
05/01/45	$	435,000.00	$	100,000.00	$	11,418.75		
11/01/45	$	335,000.00	$	-	$	8,793.75	$	120,212.50	
05/01/46	$	335,000.00	$	105,000.00	$	8,793.75		
11/01/46	$	230,000.00	$	-	$	6,037.50	$	119,831.25	
05/01/47	$	230,000.00	$	110,000.00	$	6,037.50		
11/01/47	$	120,000.00	$	-	$	3,150.00	$	119,187.50	
05/01/48	$	120,000.00	$	120,000.00	$	3,150.00	$	123,150.00	
			$	1,730,000.00	$	1,461,962.50	$	3,191,962.50	

Proposed Budget
Series 2020 A3 Debt Service Fund

	Adopted Budget	Actuals Thru	Projected Next	Total Projected	Proposed Budget	
	FY 2022	3/31/22	6 Months	9/30/22	FY 2023	

Revenues						
Assessments	$	238,365	$	233,518	$	4,847	$	238,365	$	238,365	
Interest	$	-	$	6	$	-	$	6	$	-	
Carry Forward Surplus	$	149,682	$	149,682	$	-	$	149,682	$	151,854	
Total Revenues	$	388,048	$	383,207	$	4,847	$	388,054	$	390,219	

Expenditures						
Interest - 11/1	$	88,700	$	88,700	$	-	$	88,700	$	87,500	
Principal - 11/1	$	60,000	$	60,000	$	-	$	60,000	$	60,000	
Interest - 5/1	$	87,500	$	-	$	87,500	$	87,500	$	86,300	
Total Expenditures	$	236,200	$	148,700	$	87,500	$	236,200	$	233,800	
						
Excess Revenues/(Expenditures)	$	151,848	$	234,507	$	(82,653)	$	151,854	$	156,419	

Interest - 11/1/23	
$86,300	
Principal - 11/1/23	$65,000	
Total	$151,300	

11/01/22	$	3,600,000.00	$	60	
05/01/23	$	3,540,000.00	$	
11/01/23	$	3,540,000.00	$	65	
05/01/24	$	3,475,000.00	$	
11/01/24	$	3,475,000.00	$	65	
05/01/25	$	3,410,000.00	$	
11/01/25	$	3,340,000.00	$	70	
05/01/26	$	3,340,000.00	$	
11/01/26	$	3,340,000.00	$	70	
05/01/27	$	3,270,000.00	$	
11/01/27	$	3,270,000.00	$	75	
05/01/28	$	3,195,000.00	$	
11/01/28	$	3,195,000.00	$	80	
05/01/29	$	3,115,000.00	$	
11/01/29	$	3,115,000.00	$	80	
05/01/30	$	3,035,000.00	$	
11/01/30	$	3,035,000.00	$	85	
05/01/31	$	2,950,000.00	$	
11/01/31	$	2,860,000.00	$	90	
05/01/32	$	2,860,000.00	$	
11/01/32	$	2,860,000.00	$	95	
05/01/33	$	2,765,000.00	$	
11/01/33	$	2,765,000.00	$	100	
05/01/34	$	2,665,000.00	$	
11/01/34	$	2,665,000.00	$	105	
05/01/35	$	2,560,000.00	$	
11/01/35	$	2,560,000.00	$	110	
05/01/36	$	2,450,000.00	$	
11/01/36	$	2,450,000.00	$	115	
05/01/37	$	2,335,000.00	$	
11/01/37	$	2,335,000.00	$	120	
05/01/38	$	2,215,000.00	$	
11/01/38	$	2,215,000.00	$	125	
05/01/39	$	2,090,000.00	$	
11/01/39	$	2,090,000.00	$	130	
05/01/40	$	1,960,000.00	$	
11/01/40	$	1,960,000.00	$	140	
05/01/41	$	1,820,000.00	$	
11/01/41	$	1,820,000.00	$	145	
05/01/42	$	1,675,000.00	$	
11/01/42	$	1,675,000.00	$	150	
05/01/43	$	1,525,000.00	$	
11/01/43	$	1,525,000.00	$	160	
05/01/44	$	1,365,000.00	$	
11/01/44	$	1,365,000.00	$	165	
05/01/45	$	1,200,000.00	$	
11/01/45	$	1,200,000.00	$	175	
05/01/46	$	1,025,000.00	$	
11/01/46	$	1,025,000.00	$	185	

$	87,500.00	$	235,000.00	
$	86,300.00		
$	86,300.00	$	237,600.00	
$	85,000.00		
$	85,000.00	$	235,000.00	
$	83,700.00		
$	83,700.00	$	237,400.00	
$	82,300.00		
$	82,300.00	$	234,600.00	
$	80,725.00		
$	80,725.00	$	236,450.00	
$	79,037.50		
$	79,037.50	$	238,075.00	
$	77,237.50		
$	77,237.50	$	234,475.00	
$	75,437.50		
$	75,437.50	$	235,875.00	
$	73,525.00		
$	71,500.00	$	235,025.00	
$	71,500.00		
$	71,500.00	$	238,000.00	
$	69,125.00		
$	69,125.00	$	238,250.00	
$	66,625.00		
$	66,625.00	$	238,250.00	
$	64,000.00		
$	64,000.00	$	238,000.00	
$	61,250.00		
$	61,250.00	$	237,500.00	
$	58,375.00		
$	58,375.00	$	236,750.00	
$	55,375.00		
$	55,375.00	$	235,750.00	
$	52,250.00		
$	52,250.00	$	234,500.00	
$	49,000.00		
$	49,000.00	$	238,000.00	
$	45,500.00		
$	45,500.00	$	236,000.00	
$	41,875.00		
$	41,875.00	$	233,750.00	
$	38,125.00		
$	38,125.00	$	236,250.00	
$	34,125.00		
$	34,125.00	$	233,250.00	
$	30,000.00		
$	30,000.00	$	235,000.00	
$	25,625.00		
$	25,625.00	$	236,250.00	

Series 2020 Special Assessment Bonds Area 3 Amortization Schedule

Date	Balance	Prinicpal	Interest	Total

,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00

Series 2020 Special Assessment Bonds Area 3 Amortization Schedule

Date		Balance	Prinicpal	Interest	Total	

05/01/47	
$	
840,000.00	
$	-	
$	21,000.00		
11/01/47	$	840,000.00	$	195,000.00	$	21,000.00	$	237,000.00	
05/01/48	$	645,000.00	$	-	$	16,125.00		
11/01/48	$	645,000.00	$	205,000.00	$	16,125.00	$	237,250.00	
05/01/49	$	440,000.00	$	-	$	11,000.00		
11/01/49	$	440,000.00	$	215,000.00	$	11,000.00	$	237,000.00	
05/01/50	$	225,000.00	$	-	$	5,625.00		
11/01/50	$	225,000.00	$	225,000.00	$	5,625.00	$	236,250.00	
			$	3,600,000.00	$	3,165,000.00	$	6,852,500.00	

Proposed Budget
Series 2020 A4 Debt Service Fund

	Adopted Budget	Actuals Thru	Projected Next	Total Projected	Proposed Budget	
	FY 2022	3/31/22	6 Months	9/30/22	FY 2023	

Revenues						
Assessments	$	191,400	$	187,508	$	3,892	$	191,400	$	191,400	
Interest	$	-	$	4	$	-	$	4	$	-	
Carry Forward Surplus	$	64,062	$	64,065	$	-	$	64,065	$	67,369	
Total Revenues	$	255,462	$	251,576	$	3,892	$	255,469	$	258,769	

Expenditures						
Interest - 11/1	$	64,050	$	64,050	$	-	$	64,050	$	63,150	
Interest - 5/1	$	64,050	$	-	$	64,050	$	64,050	$	63,150	
Principal - 5/1	$	60,000	$	-	$	60,000	$	60,000	$	65,000	
Total Expenditures	$	188,100	$	64,050	$	124,050	$	188,100	$	191,300	
						
Excess Revenues/(Expenditures)	$	67,362	$	187,526	$	(120,158)	$	67,369	$	67,469	
				
Interest - 11/1/23	
$62,175	

Series 2020 Special Assessment Bonds Area 4 Amortization Schedule

Date	Balance	Prinicpal	Interest	Total

11/01/22	$	3,265,000.00	$	
05/01/23	$	3,265,000.00	$	65	
11/01/23	$	3,200,000.00	$	
05/01/24	$	3,200,000.00	$	65	
11/01/24	$	3,135,000.00	$	
05/01/25	$	3,135,000.00	$	70	
11/01/25	$	3,065,000.00	$	
05/01/26	$	3,065,000.00	$	70	
11/01/26	$	2,995,000.00	$	
05/01/27	$	2,995,000.00	$	70	
11/01/27	$	2,925,000.00	$	
05/01/28	$	2,925,000.00	$	75	
11/01/28	$	2,850,000.00	$	
05/01/29	$	2,850,000.00	$	80	
11/01/29	$	2,770,000.00	$	
05/01/30	$	2,770,000.00	$	80	
11/01/30	$	2,690,000.00	$	
05/01/31	$	2,690,000.00	$	85	
11/01/31	$	2,605,000.00	$	
05/01/32	$	2,605,000.00	$	85	
11/01/32	$	2,520,000.00	$	
05/01/33	$	2,520,000.00	$	90	
11/01/33	$	2,430,000.00	$	
05/01/34	$	2,430,000.00	$	95	
11/01/34	$	2,335,000.00	$	
05/01/35	$	2,335,000.00	$	100	
11/01/35	$	2,235,000.00	$	
05/01/36	$	2,235,000.00	$	100	
11/01/36	$	2,135,000.00	$	
05/01/37	$	2,135,000.00	$	105	
11/01/37	$	2,030,000.00	$	
05/01/38	$	2,030,000.00	$	110	
11/01/38	$	1,920,000.00	$	
05/01/39	$	1,920,000.00	$	115	
11/01/39	$	1,805,000.00	$	
05/01/40	$	1,805,000.00	$	120	
11/01/40	$	1,685,000.00	$	
05/01/41	$	1,685,000.00	$	125	
11/01/41	$	1,560,000.00	$	
05/01/42	$	1,560,000.00	$	130	
11/01/42	$	1,430,000.00	$	
05/01/43	$	1,430,000.00	$	135	
11/01/43	$	1,295,000.00	$	
05/01/44	$	1,295,000.00	$	140	
11/01/44	$	1,155,000.00	$	
05/01/45	$	1,155,000.00	$	145	
11/01/45	$	1,010,000.00	$	

$	63,150.00	$	187,200.00	
$	63,150.00		
$	62,175.00	$	190,325.00	
$	62,175.00		
$	61,200.00	$	188,375.00	
$	61,200.00		
$	60,150.00	$	191,350.00	
$	60,150.00		
$	58,925.00	$	189,075.00	
$	58,925.00		
$	57,700.00	$	186,625.00	
$	57,700.00		
$	56,387.50	$	189,087.50	
$	56,387.50		
$	54,987.50	$	191,375.00	
$	54,987.50		
$	53,587.50	$	188,575.00	
$	53,587.50		
$	52,100.00	$	190,687.50	
$	52,100.00		
$	50,400.00	$	187,500.00	
$	50,400.00		
$	48,600.00	$	189,000.00	
$	48,600.00		
$	46,700.00	$	190,300.00	
$	46,700.00		
$	44,700.00	$	191,400.00	
$	44,700.00		
$	42,700.00	$	187,400.00	
$	42,700.00		
$	40,600.00	$	188,300.00	
$	40,600.00		
$	38,400.00	$	189,000.00	
$	38,400.00		
$	36,100.00	$	189,500.00	
$	36,100.00		
$	33,700.00	$	189,800.00	
$	33,700.00		
$	31,200.00	$	189,900.00	
$	31,200.00		
$	28,600.00	$	189,800.00	
$	28,600.00		
$	25,900.00	$	189,500.00	
$	25,900.00		
$	23,100.00	$	189,000.00	
$	23,100.00		
$	20,200.00	$	188,300.00	

-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-

Series 2020 Special Assessment Bonds Area 4 Amortization Schedule

Date		Balance	Prinicpal	Interest	Total	

05/01/46	
$	
1,010,000.00	
$	150,000.00	
$	20,200.00		
11/01/46	$	860,000.00	$	-	$	17,200.00	$	187,400.00	
05/01/47	$	860,000.00	$	160,000.00	$	17,200.00		
11/01/47	$	700,000.00	$	-	$	14,000.00	$	191,200.00	
05/01/48	$	700,000.00	$	165,000.00	$	14,000.00		
11/01/48	$	535,000.00	$	-	$	10,700.00	$	189,700.00	
05/01/49	$	535,000.00	$	170,000.00	$	10,700.00		
11/01/49	$	365,000.00	$	-	$	7,300.00	$	188,000.00	
05/01/50	$	365,000.00	$	180,000.00	$	7,300.00		
11/01/50	$	185,000.00	$	-	$	3,700.00	$	191,000.00	
05/01/51	$	185,000.00	$	185,000.00	$	3,700.00	$	188,700.00	
			$	3,265,000.00	$	2,288,325.00	$	5,677,375.00	

Proposed Budget Capital Reserve Fund

Proposed Budget FY 2022

Actuals Thru 3/31/22

Projected Next
6 Months

Total Projected 9/30/22

Proposed Budget FY 2023

Revenues
Interest
Carry Forward Surplus	
$	-
$	-	
$
$		
-	$
-	$		
-	$
-	$		
-	$	-
-	$	-	
Total Revenues	$	-	$		-	$		-	$		-	$	-	

Expenditures
Capital Outlay	

$	-	

$		

-	$		

-	$		

-	$	-	
Total Expenditures	$	-	$		-	$		-	$		-	$	-	

Other Financing Sources/(Uses)
Transfer In/(Out)	

$	13,500	

$		

-	$		

-	$		

-	$	50,000	
Total Other Financing Sources/(Uses)	$	13,500	$		-	$		-	$		-	$	50,000	

Excess Revenues/(Expenditures)

$

13,500	$

-

$

-

$

-

$

50,000