Hammock Reserve
Community Development District

Adopted Budget
FY2023

6M3

Table of Contents

1-2	General Fund	

3-7	

General Fund Narrative	

8	

Series 2020 Debt Service Fund	

9-10	

Series 2020 Amortization Schedule	

11	

Series 2021 Debt Service Fund	

12-13	

Series 2021 Amortization Schedule	

14	

Series 2021 Debt Service Fund	

15-16	

Series 2021 Amortization Schedule	

17	

Capital Reserve Fund	

Adopted Budget	Actuals Thru	Projected Next	Total Thru	Adopted Budget	
Description	FY2022	6/30/22	3 Months	9/30/22	FY2023	

Revenues

Assessments - Tax Roll	$	138,216	$	138,423	$	-	$	138,423	$	387,067	
Assessments - Direct Bill	$	-	$	-	$	-	$	-	$	147,336	
Assessments - Lot Closings	$	-	$	34,064	$	-	$	34,064	$	-	
Developer Contributions	$	190,989	$	36,000	$	59,244	$	95,243	$	-	
Boundary Amendment Contributions	$	-	$	2,257	$	-	$	2,257	$	-	
Total Revenues	$	329,205	$	210,743	$	59,244	$	269,986	$	534,403	

Expenditures						

Administrative
Supervisor Fees	

$	12,000	

$	5,600	

$	3,000	

$	8,600	

$	12,000	
Engineering	$	15,000	$	3,080	$	11,920	$	15,000	$	15,000	
Attorney	$	30,000	$	15,368	$	7,500	$	22,868	$	30,000	
Annual Audit	$	4,500	$	4,900	$	-	$	4,900	$	6,000	
Assessment Administration	$	5,000	$	5,000	$	-	$	5,000	$	5,000	
Arbitrage	$	1,350	$	450	$	450	$	900	$	1,800	
Dissemination	$	7,000	$	4,517	$	1,750	$	6,267	$	8,000	
Trustee Fees	$	10,650	$	3,704	$	6,946	$	10,650	$	14,200	
Management Fees	$	36,050	$	27,038	$	9,013	$	36,050	$	37,853	
Information Technology	$	1,800	$	1,350	$	450	$	1,800	$	1,800	
Website Maintenance	$	1,200	$	900	$	300	$	1,200	$	1,200	
Telephone	$	300	$	-	$	75	$	75	$	-	
Postage & Delivery	$	1,000	$	412	$	250	$	662	$	1,000	
Insurance	$	5,500	$	5,175	$	-	$	5,175	$	6,210	
Copies	$	1,000	$	73	$	250	$	323	$	500	
Legal Advertising	$	10,000	$	-	$	7,500	$	7,500	$	7,500	
Other Current Charges	$	5,000	$	343	$	1,250	$	1,593	$	1,550	
Office Supplies	$	625	$	23	$	156	$	179	$	625	
Travel Per Diem	$	660	$	-	$	165	$	165	$	-	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total Administrative	$	148,810	$	84,621	$	50,975	$	135,595	$	150,413	

Adopted Budget
Description	FY2022	Actuals Thru 6/30/22	Projected Next
3 Months	Total Thru 9/30/22	Adopted Budget FY2023	

Operations & Maintenance						
Field Expenditures						
Property Insurance	$	5,000	$	1,543	$	-	$	1,543	$	12,000	
Field Management	$	15,000	$	5,625	$	3,750	$	9,375	$	15,750	
Landscape Maintenance	$	61,250	$	36,001	$	15,702	$	51,702	$	114,000	
Landscape Replacement	$	5,000	$	-	$	5,000	$	5,000	$	15,000	
Streetlights	$	18,000	$	6,934	$	4,500	$	11,434	$	19,800	
Electric	$	7,200	$	3,265	$	1,800	$	5,065	$	7,920	
Water & Sewer	$	1,500	$	5,453	$	375	$	5,828	$	6,970	
Sidewalk & Asphalt Maintenance	$	2,500	$	-	$	625	$	625	$	2,500	
Irrigation Repairs	$	5,000	$	1,047	$	1,250	$	2,297	$	8,000	
General Repairs & Maintenance	$	5,000	$	986	$	1,250	$	2,236	$	15,000	
Contingency	$	2,500	$	-	$	625	$	625	$	7,500	
Subtotal Field Expenditures	$	127,950	$	60,854	$	34,877	$	95,730	$	224,440	

Amenity Expenditures						
Amenity - Electric	$	8,400	$	-	$	2,100	$	2,100	$	5,400	
Amenity - Water	$	2,042	$	-	$	510	$	510	$	3,500	
Playground Lease	$	8,167	$	13,417	$	14,799	$	28,216	$	70,830	
Internet	$	1,750	$	-	$	438	$	438	$	1,500	
Pest Control	$	420	$	-	$	105	$	105	$	720	
Janitorial Services	$	4,958	$	-	$	1,240	$	1,240	$	6,000	
Security Services	$	5,833	$	-	$	1,458	$	1,458	$	25,000	
Pool Maintenance	$	10,500	$	-	$	2,625	$	2,625	$	21,600	
Amenity Access Management	$	2,917	$	-	$	729	$	729	$	5,000	
Amenity Repairs & Maintenance	$	583	$	-	$	146	$	146	$	10,000	
Contingency	$	4,375	$	-	$	1,094	$	1,094	$	7,500	
Subtotal Amenity Expenditures	$	49,945	$	13,417	$	25,243	$	38,660	$	157,050	
						
Total Operations & Maintenance	$	177,895	$	74,271	$	60,120	$	134,391	$	381,490	

Other Expenditures						
Capital Reserves - Transfer	$	2,500	$	-	$	-	$	-	$	2,500	
Total Other Expenditures	$	2,500	$	-	$	-	$	-	$	2,500	

Total Expenditures

$

329,205	$

158,891	$

111,095	$

269,986	$

534,403

Excess Revenues/(Expenditures)

$

-

$

51,851	$

(51,851)  $

-

$

-

Product	ERU's	Assessable Units	ERU/Unit		Net Assessment	Net Per Unit	Gross Per Unit	
Platted	437.00	437		1.00	$387,067.22	$885.74	$952.41	
Unplatted	166.34	591		0.28	$147,335.58	$249.30	$268.06	
	603.34	1028			$534,402.80			

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.

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, Wood & Associates Engineering, LLC, 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.

Attorney

The District's legal counsel, KE Law Group, PLLC, will be providing 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.

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis. Grau & Associates provides this service.

Assessment Administration

The District will contract to levy and administer the collection of non-ad valorem assessment on all assessable property within the District. Governmental Management Services – Central Florida, LLC provides these services.

Arbitrage

The District is contracted with AMTEC, an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on its Series 2020, 2021 and 2022 bonds, this cost also includes an additional bond issuance.

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 on the Series 2020, 2021 and 2022 bonds. This cost also includes an additional bond issuance. Governmental Management Services – Central Florida, LLC provides these services.

Trustee Fees

The District will pay annual fees for Series 2020, 2021 and 2022 bonds that are deposited with a Trustee at US Bank. This cost also includes an additional bond issuance.

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.

Postage & Delivery

The District incurs charges for mailing of Board meeting agenda packages, overnight deliveries, correspondence, etc.

Insurance

The District’s general liability and public officials liability insurance coverage is provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Copies

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

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

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

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

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

Property Insurance

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

Field Management

Governmental Management Services – Central Florida, LLC provides onsite field management of contracts for District services such as landscape and lake maintenance. Services to include weekly site inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and respond to property owner phone calls and emails.

Landscape Maintenance

Represents the estimated maintenance of the landscaping within the common areas of the District after the installation of landscape material has been completed. The District has contracted with Prince & Sons, Inc. to provide these services.

Landscape Replacement

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

Streetlights

Represents the cost to maintain street lights within the District Boundaries that are expected to be in place throughout the fiscal year.

Electric

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

Water & Sewer

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

Sidewalk & Asphalt Maintenance

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

Irrigation Repairs

Represents the cost of maintaining and repairing the irrigation system. This includes the sprinklers, and irrigation wells. The District has contracted with Prince & Sons, Inc. to provide these services.

General Repairs & Maintenance

Represents estimated costs for general repairs and maintenance of the District’s common areas.

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

Amenity - Electric

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

Amenity – Water

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

Playground Lease

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

Internet

Internet service will be added for use at the Amenity Center.

Pest Control

The District will incur costs for pest control treatments to its amenity facilities.

Janitorial Services

Represents estimated costs to provide janitorial services and supplies for the District’s amenity facilities.

Security Services

Represents the estimated cost of contracting a monthly security service for the District’s amenity facilities, as well as maintaining security systems installed.

Pool Maintenance

Represents estimated costs of regular cleaning and treatments of the District’s pool.

Amenity Access Management

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

Amenity Repairs & Maintenance

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

Contingency

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

Other Expenditures:

Capital Reserves - Transfer

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

Adopted Budget
Series 2020 Debt Service Fund

Adopted Budget	Actuals Thru	Projected Next	Total Thru	Adopted Budget	
Description	FY2022	6/30/22	3 Months	9/30/22	FY2023	

Revenues					

Special Assessments	
$	308,327	
$	308,487	
$	-	$	308,487	
$	308,327	
Interest	$	-	$	75	$	-	$	75	$	-	
Carry Forward Surplus	$	102,395	$	256,390	$	-	$	256,390	$	106,125	
Total Revenues	$	410,722	$	564,952	$	-	$	564,952	$	414,452	

Expenditures					

Interest Expense - 11/1	
$	102,391	
$	102,391	
$	-	$	102,391	
$	101,078	
Principal Expense - 5/1	$	100,000	$	100,000	$	-	$	100,000	$	105,000	
Interest Expense - 5/1	$	102,391	$	102,391	$	-	$	102,391	$	101,078	
Total Expenditures	$	304,781	$	304,781	$	-	$	304,781	$	307,156	

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

$	-	

$	(154,046)	

$	-	$	(154,046)	

$	-	
Total Other Financing Sources/(Uses)	$	-	$	(154,046)	$	-	$	(154,046)	$	-	
					
Excess Revenues/(Expenditures)	$	105,940	$	106,125	$	-	$	106,125	$	107,296	

Interest Expense 11/1/23	 $	99,700 
Total	$	99,700

Maximum Annual	Net Assessment Per	Gross Assessment
Product	Assessable Units	Debt Service	Unit	Per Unit	
SF - Contracted - Other	144	$	194,400	$1,349	$1,450	
SF - Contracted - Meritage	87	$	113,927	$1,308	$1,407	
	231	$	308,327			

	Series	2020 Special Assessment Bonds Amortization Schedule		
Date		Balance	Prinicpal	Interest	Total	
					
11/01/22	$	5,280,000.00	$	-	$	101,078.13	$	303,468.75	
05/01/23	$	5,280,000.00	$	105,000.00	$	101,078.13	$	-	
11/01/23	$	5,175,000.00	$	-	$	99,700.00	$	305,778.13	
05/01/24	$	5,175,000.00	$	110,000.00	$	99,700.00	$	-	
11/01/24	$	5,065,000.00	$	-	$	98,256.25	$	307,956.25	
05/01/25	$	5,065,000.00	$	110,000.00	$	98,256.25	$	-	
11/01/25	$	4,955,000.00	$	-	$	96,812.50	$	305,068.75	
05/01/26	$	4,955,000.00	$	115,000.00	$	96,812.50	$	-	
11/01/26	$	4,840,000.00	$	-	$	94,943.75	$	306,756.25	
05/01/27	$	4,840,000.00	$	120,000.00	$	94,943.75	$	-	
11/01/27	$	4,720,000.00	$	-	$	92,993.75	$	307,937.50	
05/01/28	$	4,720,000.00	$	120,000.00	$	92,993.75	$	-	
11/01/28	$	4,600,000.00	$	-	$	91,043.75	$	304,037.50	
05/01/29	$	4,600,000.00	$	125,000.00	$	91,043.75	$	-	
11/01/29	$	4,475,000.00	$	-	$	89,012.50	$	305,056.25	
05/01/30	$	4,475,000.00	$	130,000.00	$	89,012.50	$	-	
11/01/30	$	4,345,000.00	$	-	$	86,900.00	$	305,912.50	
05/01/31	$	4,345,000.00	$	135,000.00	$	86,900.00	$	-	
11/01/31	$	4,210,000.00	$	-	$	84,200.00	$	306,100.00	
05/01/32	$	4,210,000.00	$	140,000.00	$	84,200.00	$	-	
11/01/32	$	4,070,000.00	$	-	$	81,400.00	$	305,600.00	
05/01/33	$	4,070,000.00	$	145,000.00	$	81,400.00	$	-	
11/01/33	$	3,925,000.00	$	-	$	78,500.00	$	304,900.00	
05/01/34	$	3,925,000.00	$	150,000.00	$	78,500.00	$	-	
11/01/34	$	3,775,000.00	$	-	$	75,500.00	$	304,000.00	
05/01/35	$	3,775,000.00	$	160,000.00	$	75,500.00	$	-	
11/01/35	$	3,615,000.00	$	-	$	72,300.00	$	307,800.00	
05/01/36	$	3,615,000.00	$	165,000.00	$	72,300.00	$	-	
11/01/36	$	3,450,000.00	$	-	$	69,000.00	$	306,300.00	
05/01/37	$	3,450,000.00	$	170,000.00	$	69,000.00	$	-	
11/01/37	$	3,280,000.00	$	-	$	65,600.00	$	304,600.00	
05/01/38	$	3,280,000.00	$	180,000.00	$	65,600.00	$	-	
11/01/38	$	3,100,000.00	$	-	$	62,000.00	$	307,600.00	
05/01/39	$	3,100,000.00	$	185,000.00	$	62,000.00	$	-	
11/01/39	$	2,915,000.00	$	-	$	58,300.00	$	305,300.00	
05/01/40	$	2,915,000.00	$	195,000.00	$	58,300.00	$	-	
11/01/40	$	2,720,000.00	$	-	$	54,400.00	$	307,700.00	
05/01/41	$	2,720,000.00	$	200,000.00	$	54,400.00	$	-	
11/01/41	$	2,520,000.00	$	-	$	50,400.00	$	304,800.00	
05/01/42	$	2,520,000.00	$	210,000.00	$	50,400.00	$	-	
11/01/42	$	2,310,000.00	$	-	$	46,200.00	$	306,600.00	
05/01/43	$	2,310,000.00	$	220,000.00	$	46,200.00	$	-	
11/01/43	$	2,090,000.00	$	-	$	41,800.00	$	308,000.00	

Series 2020 Special Assessment Bonds Amortization Schedule

Date	Balance	Prinicpal	Interest	Total

05/01/44	$	2,090,000.00	$	225,000.00	$	41,800.00	$	-	
11/01/44	$	1,865,000.00	$	-	$	37,300.00	$	304,100.00	
05/01/45	$	1,865,000.00	$	235,000.00	$	37,300.00	$	-	
11/01/45	$	1,630,000.00	$	-	$	32,600.00	$	304,900.00	
05/01/46	$	1,630,000.00	$	245,000.00	$	32,600.00	$	-	
11/01/46	$	1,385,000.00	$	-	$	27,700.00	$	305,300.00	
05/01/47	$	1,385,000.00	$	255,000.00	$	27,700.00	$	-	
11/01/47	$	1,130,000.00	$	-	$	22,600.00	$	305,300.00	
05/01/48	$	1,130,000.00	$	265,000.00	$	22,600.00	$	-	
11/01/48	$	865,000.00	$	-	$	17,300.00	$	304,900.00	
05/01/49	$	865,000.00	$	275,000.00	$	17,300.00	$	-	
11/01/49	$	590,000.00	$	-	$	11,800.00	$	304,100.00	
05/01/50	$	590,000.00	$	290,000.00	$	11,800.00	$	-	
11/1/50	$	300,000.00	$	-	$	6,000.00	$	307,800.00	
5/1/51	$	300,000.00	$	300,000.00	$	6,000.00	$	306,000.00	
			$	5,380,000.00	$	3,896,062.50	$	9,383,572.66	

Adopted Budget
Series 2021 Debt Service Fund

Adopted Budget	Actuals Thru	Projected Next	Total Thru	Adopted Budget	
Description	FY2022	6/30/22	3 Months	9/30/22	FY2023	

Revenues						

Special Assessments	
$	278,100	
$	1,350	
$	1,350	
$	2,700	
$	278,100	
Interest	$	-	$	71	$	-	$	71	$	-	
Assessments - Prepayment	$	-	$	22,388	$	-	$	22,388	$	-	
Assessments - Lot Closings	$	-	$	276,750	$	-	$	276,750	$	-	
Carry Forward Surplus	$	79,257	$	218,312	$	-	$	218,312	$	94,393	
Total Revenues	$	357,357	$	518,871	$	1,350	$	520,221	$	372,493	

Expenditures						

Interest Expense - 11/1	
$	79,256	
$	79,256	
$	-	
$	79,256	
$	85,966	
Principal Expense - 5/1	$	100,000	$	100,000	$	-	$	100,000	$	105,000	
Interest Expense - 5/1	$	87,522	$	87,522	$	-	$	87,522	$	85,966	
Special Call - 5/1	$	-	$	20,000	$	-	$	20,000	$	-	
Total Expenditures	$	266,778	$	286,778	$	-	$	286,778	$	276,931	

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

$	-	

$	(139,050)	

$	-	

$	(139,050)	

$	-	
Total Other Financing Sources/(Uses)	$	-	$	(139,050)	$	-	$	(139,050)	$	-	
						
Excess Revenues/(Expenditures)	$	90,579	$	93,043	$	1,350	$	94,393	$	95,562	

Interest Expense 11/1/23	 $	84,719 
Total	$	84,719

Product	Assessable Units	Maximum Annual Debt Service	Net Assessment Per Unit	Gross Assessment Per Unit	
Single Family	206	$	278,100	$1,350	$1,452	
	206	$	278,100			

Series 2021 Special Assessment Bonds Amortization Schedule

Date	Balance	Prinicpal	Interest	Total

11/01/22	$	4,870,000.00	$	
05/01/23	$	4,870,000.00	$	105	
11/01/23	$	4,765,000.00	$	
05/01/24	$	4,765,000.00	$	105	
11/01/24	$	4,660,000.00	$	
05/01/25	$	4,660,000.00	$	110	
11/01/25	$	4,440,000.00	$	
05/01/26	$	4,440,000.00	$	110	
11/01/26	$	4,440,000.00	$	
05/01/27	$	4,440,000.00	$	115	
11/01/27	$	4,325,000.00	$	
05/01/28	$	4,325,000.00	$	120	
11/01/28	$	4,205,000.00	$	
05/01/29	$	4,205,000.00	$	120	
11/01/29	$	4,085,000.00	$	
05/01/30	$	4,085,000.00	$	125	
11/01/30	$	3,960,000.00	$	
05/01/31	$	3,830,000.00	$	130	
11/01/31	$	3,830,000.00	$	
05/01/32	$	3,830,000.00	$	135	
11/01/32	$	3,695,000.00	$	
05/01/33	$	3,695,000.00	$	140	
11/01/33	$	3,555,000.00	$	
05/01/34	$	3,555,000.00	$	145	
11/01/34	$	3,410,000.00	$	
05/01/35	$	3,410,000.00	$	145	
11/01/35	$	3,265,000.00	$	
05/01/36	$	3,265,000.00	$	150	
11/01/36	$	3,115,000.00	$	
05/01/37	$	3,115,000.00	$	160	
11/01/37	$	2,955,000.00	$	
05/01/38	$	2,955,000.00	$	165	
11/01/38	$	2,790,000.00	$	
05/01/39	$	2,790,000.00	$	170	
11/01/39	$	2,620,000.00	$	
05/01/40	$	2,620,000.00	$	175	
11/01/40	$	2,265,000.00	$	
05/01/41	$	2,265,000.00	$	180	
11/01/41	$	2,265,000.00	$	
05/01/42	$	2,265,000.00	$	185	
11/01/42	$	2,080,000.00	$	
05/01/43	$	2,080,000.00	$	195	
11/01/43	$	1,885,000.00	$	
05/01/44	$	1,885,000.00	$	205	
11/01/44	$	1,680,000.00	$	
05/01/45	$	1,680,000.00	$	210	

$	85,965.63	$	85,965.63	
$	85,965.63	$	-	
$	84,718.75	$	275,684.38	
$	84,718.75	$	-	
$	83,471.88	$	273,190.63	
$	83,471.88	$	-	
$	82,165.63	$	275,637.50	
$	82,165.63	$	-	
$	80,859.38	$	273,025.00	
$	80,859.38	$	-	
$	79,134.38	$	274,993.75	
$	79,134.38	$	-	
$	77,334.38	$	276,468.75	
$	77,334.38	$	-	
$	75,534.38	$	272,868.75	
$	75,534.38	$	-	
$	73,659.38	$	274,193.75	
$	73,659.38	$	-	
$	71,709.38	$	275,368.75	
$	71,709.38	$	-	
$	69,431.25	$	276,140.63	
$	69,431.25	$	-	
$	67,068.75	$	276,500.00	
$	67,068.75	$	-	
$	64,621.88	$	276,690.63	
$	64,621.88	$	-	
$	62,175.00	$	271,796.88	
$	62,175.00	$	-	
$	59,643.75	$	271,818.75	
$	59,643.75	$	-	
$	56,943.75	$	276,587.50	
$	56,943.75	$	-	
$	54,159.38	$	276,103.13	
$	54,159.38	$	-	
$	51,290.63	$	275,450.00	
$	51,290.63	$	-	
$	48,337.50	$	274,628.13	
$	48,337.50	$	-	
$	45,300.00	$	273,637.50	
$	45,300.00	$	-	
$	41,600.00	$	271,900.00	
$	41,600.00	$	-	
$	37,700.00	$	274,300.00	
$	37,700.00	$	-	
$	33,600.00	$	276,300.00	
$	33,600.00	$	-	

-
,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	2021 Special Assessment Amortization Schedule	Bonds		
Date		Balance	Prinicpal	Interest	Total	

11/01/45	
$	
1,470,000.00	
$	-	
$	29,400.00	
$	273,000.00	
05/01/46	$	1,470,000.00	$	220,000.00	$	29,400.00	$	-	
11/01/46	$	1,250,000.00	$	-	$	25,000.00	$	274,400.00	
05/01/47	$	1,250,000.00	$	230,000.00	$	25,000.00	$	-	
11/01/47	$	1,020,000.00	$	-	$	20,400.00	$	275,400.00	
05/01/48	$	1,020,000.00	$	240,000.00	$	20,400.00	$	-	
11/01/48	$	780,000.00	$	-	$	15,600.00	$	276,000.00	
05/01/49	$	780,000.00	$	250,000.00	$	15,600.00	$	-	
11/01/49	$	530,000.00	$	-	$	10,600.00	$	276,200.00	
05/01/50	$	530,000.00	$	260,000.00	$	10,600.00	$	-	
11/1/50	$	270,000.00	$	-	$	5,400.00	$	276,000.00	
5/1/51	$	270,000.00	$	270,000.00	$	5,400.00	$	275,400.00	
			$	4,870,000.00	$	3,185,650.00	$	8,055,650.00	

Adopted Budget
Series 2022 Debt Service Fund

Proposed Budget	Actuals Thru	Projected Next	Total Thru	Adopted Budget	
Description	FY2022	6/30/22	3 Months	9/30/22	FY2023	

Revenues

Special Assessments Interest
Carry Forward Surplus

$	-	$
$	-	$
$	-	$

-	$
320	$
-	$

-	$	-	$
-	$	320	$
-	$	-	$

904,500
- 357,084

Total Revenues	$	-	$	320	$	-	$	320	$	1,261,584

Expenditures

Interest Expense - 11/1 Principal Expense - 5/1 Interest Expense - 5/1

$	-	$
$	-	$
$	-	$

-	$	-	$
-	$	-	$
-	$	-	$

-	$	356,764
-	$	225,000
-	$	339,775

Total Expenditures	$	-	$	-	$	-	$	-	$	921,539

Other Financing Sources/(Uses)
Bond Proceeds

$	1,261,264	$

1,261,264	$

-	$	1,261,264	$	-

Total Other Financing Sources/(Uses)	$	1,261,264	$	1,261,264	$	-	$	1,261,264	$	-

Excess Revenues/(Expenditures)	$	1,261,264	$	1,261,584	$	-	$	1,261,584	$	340,045

Interest Expense 11/1/23	 $	335,050 
Total	$	335,050

Maximum Annual	Net Assessment Per	Gross Assessment
Product	Assessable Units	Debt Service	Unit	Per Unit	
Single Family - Phase 3	382	$	515,700	$1,350	$1,452	
Single Family - Phase 4	209	$	388,800	$1,860	$2,000	
		$	904,500			

Series 2022 Special Assessment Bonds Amortization Schedule

Date	Balance	Prinicpal	Interest	Total

11/01/22	$	14,235,000.00	$	
05/01/23	$	14,235,000.00	$	225	
11/01/23	$	14,010,000.00	$	
05/01/24	$	14,010,000.00	$	235	
11/01/24	$	13,775,000.00	$	
05/01/25	$	13,775,000.00	$	245	
11/01/25	$	13,000,000.00	$	
05/01/26	$	13,000,000.00	$	260	
11/01/26	$	13,000,000.00	$	
05/01/27	$	13,000,000.00	$	270	
11/01/27	$	13,000,000.00	$	
05/01/28	$	13,000,000.00	$	280	
11/01/28	$	12,720,000.00	$	
05/01/29	$	12,720,000.00	$	295	
11/01/29	$	12,425,000.00	$	
05/01/30	$	12,425,000.00	$	305	
11/01/30	$	12,120,000.00	$	
05/01/31	$	11,465,000.00	$	320	
11/01/31	$	11,465,000.00	$	
05/01/32	$	11,465,000.00	$	335	
11/01/32	$	11,465,000.00	$	
05/01/33	$	11,465,000.00	$	350	
11/01/33	$	11,115,000.00	$	
05/01/34	$	11,115,000.00	$	365	
11/01/34	$	10,750,000.00	$	
05/01/35	$	10,750,000.00	$	385	
11/01/35	$	10,365,000.00	$	
05/01/36	$	10,365,000.00	$	405	
11/01/36	$	9,960,000.00	$	
05/01/37	$	9,960,000.00	$	425	
11/01/37	$	9,535,000.00	$	
05/01/38	$	9,535,000.00	$	445	
11/01/38	$	9,090,000.00	$	
05/01/39	$	9,090,000.00	$	465	
11/01/39	$	8,625,000.00	$	
05/01/40	$	8,625,000.00	$	485	
11/01/40	$	7,095,000.00	$	
05/01/41	$	7,095,000.00	$	510	
11/01/41	$	7,095,000.00	$	
05/01/42	$	7,095,000.00	$	535	
11/01/42	$	7,095,000.00	$	
05/01/43	$	7,095,000.00	$	560	
11/01/43	$	6,535,000.00	$	
05/01/44	$	6,535,000.00	$	590	
11/01/44	$	5,945,000.00	$	
05/01/45	$	5,945,000.00	$	620	

$	356,763.75	$	356,763.75	
$	339,775.00	$	-	
$	335,050.00	$	899,825.00	
$	335,050.00	$	-	
$	330,115.00	$	900,165.00	
$	330,115.00	$	-	
$	324,970.00	$	900,085.00	
$	324,970.00	$	-	
$	319,510.00	$	904,480.00	
$	319,510.00	$	-	
$	313,840.00	$	903,350.00	
$	313,840.00	$	-	
$	307,680.00	$	901,520.00	
$	307,680.00	$	-	
$	301,190.00	$	903,870.00	
$	301,190.00	$	-	
$	294,480.00	$	900,670.00	
$	294,480.00	$	-	
$	287,440.00	$	901,920.00	
$	287,440.00	$	-	
$	280,070.00	$	902,510.00	
$	280,070.00	$	-	
$	271,845.00	$	901,915.00	
$	271,845.00	$	-	
$	263,267.50	$	900,112.50	
$	263,267.50	$	-	
$	254,220.00	$	902,487.50	
$	254,220.00	$	-	
$	244,702.50	$	903,922.50	
$	244,702.50	$	-	
$	234,715.00	$	904,417.50	
$	234,715.00	$	-	
$	224,257.50	$	903,972.50	
$	224,257.50	$	-	
$	213,330.00	$	902,587.50	
$	213,330.00	$	-	
$	201,932.50	$	900,262.50	
$	201,932.50	$	-	
$	189,947.50	$	901,880.00	
$	189,947.50	$	-	
$	177,375.00	$	902,322.50	
$	177,375.00	$	-	
$	163,375.00	$	900,750.00	
$	163,375.00	$	-	
$	148,625.00	$	902,000.00	
$	148,625.00	$	-	

-
,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	2022 Special Assessment Amortization Schedule	Bonds		
Date		Balance	Prinicpal	Interest	Total	

11/01/45	
$	
5,325,000.00	
$	-	
$	133,125.00	
$	901,750.00	
05/01/46	$	5,325,000.00	$	650,000.00	$	133,125.00	$	-	
11/01/46	$	4,675,000.00	$	-	$	116,875.00	$	900,000.00	
05/01/47	$	4,675,000.00	$	685,000.00	$	116,875.00	$	-	
11/01/47	$	3,990,000.00	$	-	$	99,750.00	$	901,625.00	
05/01/48	$	3,990,000.00	$	720,000.00	$	99,750.00	$	-	
11/01/48	$	3,270,000.00	$	-	$	81,750.00	$	901,500.00	
05/01/49	$	3,270,000.00	$	760,000.00	$	81,750.00	$	-	
11/01/49	$	2,510,000.00	$	-	$	62,750.00	$	904,500.00	
05/01/50	$	2,510,000.00	$	795,000.00	$	62,750.00	$	-	
11/01/50	$	1,715,000.00	$	-	$	42,875.00	$	900,625.00	
05/01/51	$	1,715,000.00	$	835,000.00	$	42,875.00	$	-	
11/01/51	$	880,000.00	$	-	$	22,000.00	$	899,875.00	
05/01/52	$	880,000.00	$	880,000.00	$	22,000.00	$	902,000.00	
			$	14,235,000.00	$	13,178,663.75	$	27,413,663.75	

Adopted Budget Capital Reserve Fund

	Proposed Budget FY2022		Actuals Thru 6/30/22		Projected Next
3 Months		Total Projected 9/30/22		Adopted Budget FY2023		

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

Expenditures												
Capital Outlay	$		-	$		-	$		-	$		-	$		-	
Total Expenditures	$		-	$		-	$		-	$		-	$		-	

Other Financing Sources/(Uses)												

Transfer In (Out)	$	2,500	$	-	$	-	$	-	$	3,050	
Total Other Financing Sources/(Uses)	$	2,500	$	-	$	-	$	-	$	3,050	
			
Excess Revenues/(Expenditures)	$	2,500	$	-	$	-	$	-	$	3,050