Hammock Reserve
Community Development District

Adopted Budget
FY2026

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 2022 Debt Service Fund	

15-16	

Series 2022 Amortization Schedule	

17	

Capital Reserve Fund	

	Adopted Budget	Actuals Thru	Projected Next	Total Thru	Adopted Budget	
Description	FY2025	5/31/25	4 Months	9/30/25	FY2026	

Revenues						
Assessments - Tax Roll	$	842,100	$	842,042	$	57	$	842,100	$	842,100	
Interest	$	-	$	3,042	$	1,521	$	4,562	$	2,281	
Other Income	$	-	$	90	$	24,275	$	24,365	$	-	
Total Revenues	$	842,100	$	845,174	$	25,853	$	871,027	$	844,381	

Expenditures						
Administrative
Supervisor Fees	

$	12,000	

$	2,600	

$	3,600	

$	6,200	

$	12,000	
Employer FICA	$	-	$	138	$	275	$	413	$	918	
Engineering	$	15,000	$	5,493	$	5,000	$	10,493	$	15,000	
Attorney	$	25,000	$	8,754	$	8,333	$	17,087	$	25,000	
Annual Audit	$	9,200	$	9,200	$	-	$	9,200	$	9,200	
Assessment Administration	$	5,565	$	5,565	$	-	$	5,565	$	5,732	
Arbitrage	$	1,350	$	1,350	$	-	$	1,350	$	1,350	
Dissemination	$	7,875	$	5,350	$	2,625	$	7,975	$	8,111	
Trustee Fees	$	12,123	$	11,448	$	675	$	12,123	$	13,335	
Management Fees	$	45,000	$	30,000	$	15,000	$	45,000	$	46,350	
Information Technology	$	1,890	$	1,260	$	630	$	1,890	$	1,947	
Website Maintenance	$	1,260	$	840	$	420	$	1,260	$	1,298	
Postage & Delivery	$	1,000	$	718	$	282	$	1,000	$	1,000	
Insurance	$	6,334	$	6,334	$	-	$	6,334	$	8,282	
Copies	$	500	$	80	$	167	$	246	$	500	
Legal Advertising	$	2,500	$	2,018	$	482	$	2,500	$	2,500	
Other Current Charges	$	1,550	$	4,982	$	450	$	5,432	$	1,550	
Office Supplies	$	625	$	15	$	100	$	115	$	625	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total Administrative	$	148,947	$	96,318	$	38,039	$	134,358	$	154,873	

Operations & Maintenance Field Expenditures Property Insurance	

$	22,923	

$	22,045	

$	-	

$	22,045	

$	23,995	
Field Management	$	20,000	$	13,333	$	6,667	$	20,000	$	20,600	
Landscape Maintenance	$	190,000	$	123,115	$	60,808	$	183,923	$	195,700	
Landscape Replacement	$	40,000	$	35,032	$	13,333	$	48,366	$	45,000	
Pond Maintenance	$	10,200	$	6,400	$	3,200	$	9,600	$	10,200	
Streetlights	$	30,360	$	23,931	$	11,965	$	35,896	$	39,486	
Electric	$	12,000	$	7,553	$	4,447	$	12,000	$	13,200	
Sidewalk & Asphalt Maintenance	$	2,500	$	-	$	833	$	833	$	2,500	
Irrigation Repairs	$	7,000	$	5,971	$	1,029	$	7,000	$	7,000	
General Repairs & Maintenance	$	22,500	$	19,113	$	7,500	$	26,613	$	22,500	
Contingency	$	10,000	$	45,045	$	3,333	$	48,379	$	10,000	
Subtotal Field Expenditures	$	367,483	$	301,539	$	113,116	$	414,655	$	390,181	

	Adopted Budget	Actuals Thru	Projected Next	Total Thru	Adopted Budget	
Description	FY2025	5/31/25	4 Months	9/30/25	FY2026	

Amenity Expenditures						
Amenity - Electric	$	14,500	$	6,151	$	3,075	$	9,226	$	14,500	
Amenity - Water	$	10,000	$	4,148	$	2,074	$	6,223	$	10,000	
Playground Lease	$	103,993	$	69,328	$	34,664	$	103,993	$	98,030	
Internet	$	1,500	$	800	$	400	$	1,200	$	1,500	
Pest Control	$	528	$	320	$	160	$	480	$	3,544	
Janitorial Services	$	18,080	$	10,925	$	5,660	$	16,585	$	19,505	
Security Services	$	36,000	$	18,418	$	9,209	$	27,628	$	36,000	
Pool Maintenance	$	23,700	$	16,250	$	7,900	$	24,150	$	24,408	
Amenity Management	$	15,000	$	10,000	$	5,000	$	15,000	$	15,450	
Amenity Repairs & Maintenance	$	10,000	$	8,013	$	3,333	$	11,346	$	10,000	
Dog Park Water Filtration	$	6,500	$	-	$	-	$	-	$	-	
Annual Maintenance of Water Filtration System	$	2,400	$	-	$	2,400	$	2,400	$	2,400	
Holiday Decorations	$	-	$	-	$	-	$	-	$	20,000	
Contingency	$	15,000	$	8,888	$	6,112	$	15,000	$	15,000	
Subtotal Amenity Expenditures	$	257,201	$	153,242	$	79,989	$	233,230	$	270,337	
						
Total Operations & Maintenance	$	624,684	$	454,781	$	193,104	$	647,885	$	660,517	

Other Expenditures
Capital Reserves - Transfer	

$	68,469	

$	68,469	

$	-	$	

68,469	$	

28,990	
Total Other Expenditures	$	68,469	$	68,469	$	-	$	68,469	$	28,990	
						
Total Expenditures	$	842,100	$	619,568	$	231,144	$	850,712	$	844,381	
						
Excess Revenues/(Expenditures)	$	-	$	225,606	$	(205,290)  $	20,315	$	-	
						
Product	Assessable Units	ERU/Unit	Net Assessment  Net Per Unit	Gross Per Unit	
Platted	1027	1.00	$842,100	$819.96	$881.68	
	1027		$842,100			

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.

FICA Expense

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

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, Kilinski/Van WYK, 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.

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.

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. 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.

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 various cost of information technology for the District such as video conferencing, cloud storage and servers, positive pay implementation and programming for fraud protection, accounting software, tablets for meetings, Adobe, Microsoft Office, 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 agenda materials 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 Commerce 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.

Pond Maintenance

Represents the estimated maintenance of the pond 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.

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 and HNB Property, LLC for playgrounds installed in the community. The final payment in the lease agreement with WHFS, LLC is due on May 1, 2026.

Internet

Internet service is provided by Spectrum for use at the Amenity Center.

Pest Control

The District will incur costs for pest control treatments to its amenity facilities. Services are provided by Massey Services.

Janitorial Services

Represents estimated costs to provide janitorial services and supplies for the District’s amenity facilities. Services are provided by CSS of Central Florida.

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. Current Demands Electrical, INC provides these services.
Pool Maintenance

Represents the costs of regular cleaning and treatments of the District’s pool. Services are provided by Resort Pool Services.

Amenity Management

Amenity Management provides access card issuance through registration, proof of residency, and photo identification. The team also provides keycard troubleshooting for issues and concerns related to access control. Staff reviews security concerns and amenity policy violations via remote camera monitoring on an as-needed basis. Districts are provided electronic communication for District news and direct remote customer service through phone and email directly to the Amenity Access Team.

Amenity Repairs & Maintenance

The District will incur costs related to the repair and maintenance of the amenities not limited to: the chain link and steel fencing and gates, the dog park stations, soccer field area, playground, pool and cabana areas.

Dog Park Water Filtration

This filtration mechanism typically involves various technologies aimed at removing contaminants, sediment, and impurities from the water, providing a hygienic and refreshing drinking experience for canine visitors.

Annual Maintenance of Water Filtration System

This includes tasks such as filter replacement, system inspection, cleaning, calibration, and any necessary repairs to ensure the system continues to effectively purify water and meet safety standards throughout the year.

Holiday Lighting

Enhance festive celebrations with vibrant and energy-efficient holiday lighting. Proper installation and weatherproofing ensure safety and longevity, while timers and smart controls add convenience. Thoughtful placement can create a warm and inviting atmosphere for any space.

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	FY2025	5/31/25	4 Months	9/30/25	FY2026	

Revenues						
Special Assessments	$	308,327	$	308,003	$	324	$	308,327	$	308,327	
Interest	$	6,761	$	9,480	$	4,740	$	14,221	$	7,110	
Carry Forward Surplus	$	127,663	$	126,505	$	-	$	126,505	$	141,363	
Total Revenues	$	442,751	$	443,988	$	5,064	$	449,052	$	456,800	

Expenditures						
Interest Expense - 11/1	$	98,256	$	98,256	$	-	$	98,256	$	96,813	
Principal Expense - 5/1	$	110,000	$	110,000	$	-	$	110,000	$	115,000	
Interest Expense - 5/1	$	98,256	$	98,256	$	-	$	98,256	$	96,813	
Total Expenditures	$	306,513	$	306,513	$	-	$	306,513	$	308,625	

Other Financing Sources/(Uses)						
Transfer In/(Out)	$	-	$	(1,177)	$	-	$	(1,177)	$	-	
Total Other Financing Sources/(Uses)	$	-	$	(1,177)	$	-	$	(1,177)	$	-	

Excess Revenues/(Expenditures)

$

136,238	$

136,299	$

5,064	$

141,363	$

148,175

*Carry forward less amount in Reserve funds.	Interest Expense 11/1/26	 $	94,944 
Total	$	94,944

Product	Assessable Units	Maximum Annual Debt Service	Net Assessment Per Unit	Gross Assessment 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			

Date		Balance		Prinicpal		Interest		Total	
									
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	

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	
			$	5,065,000.00	$	3,191,468.75	$	8,256,468.75	

Adopted Budget
Series 2021 Debt Service Fund

Adopted Budget	Actuals Thru	Projected Next	Total Thru	Adopted Budget	
Description	FY2025	5/31/25	4 Months	9/30/25	FY2026	

Revenues						
Special Assessments	$	276,824	$	276,804	$	19	$	276,824	$	276,824	
Interest	$	6,135	$	8,849	$	4,424	$	13,273	$	6,636	
Carry Forward Surplus	$	120,342	$	121,050	$	-	$	121,050	$	134,371	
Total Revenues	$	403,301	$	406,703	$	4,444	$	411,146	$	417,832	

Expenditures						
Interest Expense - 11/1	$	83,388	$	83,388	$	-	$	83,388	$	82,081	
Principal Expense - 5/1	$	110,000	$	110,000	$	-	$	110,000	$	110,000	
Interest Expense - 5/1	$	83,388	$	83,388	$	-	$	83,388	$	82,081	
Total Expenditures	$	276,775	$	276,775	$	-	$	276,775	$	274,163	
						
Excess Revenues/(Expenditures)	$	126,526	$	129,928	$	4,444	$	134,371	$	143,669	

*Carry forward less amount in Reserve funds.	

Interest Expense 11/1/26	

 $	80,775 	
	Total	$	80,775	

Maximum Annual	Net Assessment Per	Gross Assessment
Product	Assessable Units	Debt Service	Unit	Per Unit	
Single Family	205	$	276,824	$1,350	$1,452	
	205	$	276,824			

Date		Balance		Prinicpal		Interest		Total	
									
11/01/25	$	4,435,000.00	$	-	$	82,081.25	$	275,468.75	
05/01/26	$	4,435,000.00	$	110,000.00	$	82,081.25	$	-	
11/01/26	$	4,435,000.00	$	-	$	80,775.00	$	272,856.25	
05/01/27	$	4,435,000.00	$	115,000.00	$	80,775.00	$	-	
11/01/27	$	4,320,000.00	$	-	$	79,050.00	$	274,825.00	
05/01/28	$	4,320,000.00	$	120,000.00	$	79,050.00	$	-	
11/01/28	$	4,200,000.00	$	-	$	77,250.00	$	276,300.00	
05/01/29	$	4,200,000.00	$	120,000.00	$	77,250.00	$	-	
11/01/29	$	4,080,000.00	$	-	$	75,450.00	$	272,700.00	
05/01/30	$	4,080,000.00	$	125,000.00	$	75,450.00	$	-	
11/01/30	$	3,955,000.00	$	-	$	73,575.00	$	274,025.00	
05/01/31	$	3,825,000.00	$	130,000.00	$	73,575.00	$	-	
11/01/31	$	3,825,000.00	$	-	$	71,625.00	$	275,200.00	
05/01/32	$	3,825,000.00	$	135,000.00	$	71,625.00	$	-	
11/01/32	$	3,690,000.00	$	-	$	69,346.88	$	275,971.88	
05/01/33	$	3,690,000.00	$	140,000.00	$	69,346.88	$	-	
11/01/33	$	3,550,000.00	$	-	$	66,984.38	$	276,331.25	
05/01/34	$	3,550,000.00	$	145,000.00	$	66,984.38	$	-	
11/01/34	$	3,405,000.00	$	-	$	64,537.50	$	276,521.88	
05/01/35	$	3,405,000.00	$	145,000.00	$	64,537.50	$	-	
11/01/35	$	3,260,000.00	$	-	$	62,090.63	$	271,628.13	
05/01/36	$	3,260,000.00	$	150,000.00	$	62,090.63	$	-	
11/01/36	$	3,110,000.00	$	-	$	59,559.38	$	271,650.00	
05/01/37	$	3,110,000.00	$	155,000.00	$	59,559.38	$	-	
11/01/37	$	2,955,000.00	$	-	$	56,943.75	$	271,503.13	
05/01/38	$	2,955,000.00	$	165,000.00	$	56,943.75	$	-	
11/01/38	$	2,790,000.00	$	-	$	54,159.38	$	276,103.13	
05/01/39	$	2,790,000.00	$	170,000.00	$	54,159.38	$	-	
11/01/39	$	2,620,000.00	$	-	$	51,290.63	$	275,450.00	
05/01/40	$	2,620,000.00	$	175,000.00	$	51,290.63	$	-	
11/01/40	$	2,265,000.00	$	-	$	48,337.50	$	274,628.13	
05/01/41	$	2,265,000.00	$	180,000.00	$	48,337.50	$	-	
11/01/41	$	2,265,000.00	$	-	$	45,300.00	$	273,637.50	
05/01/42	$	2,265,000.00	$	185,000.00	$	45,300.00	$	-	
11/01/42	$	2,080,000.00	$	-	$	41,600.00	$	271,900.00	
05/01/43	$	2,080,000.00	$	195,000.00	$	41,600.00	$	-	
11/01/43	$	1,885,000.00	$	-	$	37,700.00	$	274,300.00	
05/01/44	$	1,885,000.00	$	205,000.00	$	37,700.00	$	-	
11/01/44	$	1,680,000.00	$	-	$	33,600.00	$	276,300.00	
05/01/45	$	1,680,000.00	$	210,000.00	$	33,600.00	$	-	

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	
			$	4,655,000.00	$	2,758,700.00	$	7,413,700.00	

Adopted Budget
Series 2022 Debt Service Fund

Adopted Budget	Actuals Thru	Projected Next	Total Thru	Adopted Budget	
Description	FY2025	5/31/25	4 Months	9/30/25	FY2026	

Revenues						
Special Assessments	$	797,850	$	797,793	$	57	$	797,850	$	797,850	
Interest	$	37,305	$	27,579	$	13,790	$	41,369	$	20,684	
Carry Forward Surplus	$	66,273	$	461,378	$	-	$	461,378	$	499,694	
Total Revenues	$	901,428	$	1,286,749	$	13,847	$	1,300,596	$	1,318,228	

Expenditures						
Interest Expense - 11/1	$	290,483	$	290,483	$	-	$	290,483	$	285,843	
Special Call - 2/1	$	-	$	5,000	$	-	$	5,000	$	-	
Interest Expense - 2/1	$	-	$	63	$	-	$	63	$	-	
Principal Expense - 5/1	$	215,000	$	215,000	$	-	$	215,000	$	225,000	
Interest Expense - 5/1	$	290,483	$	290,358	$	-	$	290,358	$	285,843	
Total Expenditures	$	795,965	$	800,903	$	-	$	800,903	$	796,685	
						
Excess Revenues/(Expenditures)	$	105,463	$	485,847	$	13,847	$	499,694	$	521,543	

*Carry forward less amount in Reserve funds.	

Interest Expense 11/1/26	

 $	281,118 	
	Total	$	281,118	

Product	Assessable Units	Maximum Annual Debt Service	Net Assessment Per Unit	Gross Assessment Per Unit	
Single Family - Phase 3	382	$	515,700	$1,350	$1,452	
Single Family - Phase 4	209	$	282,150	$1,350	$1,452	
		$	797,850			

Date		Balance		Prinicpal		Interest		Total	
									
11/01/25	$	11,440,000.00	$	-	$	285,842.50	$	791,200.00	
05/01/26	$	11,440,000.00	$	225,000.00	$	285,842.50	$	-	
11/01/26	$	11,440,000.00	$	-	$	281,117.50	$	791,960.00	
05/01/27	$	11,440,000.00	$	235,000.00	$	281,117.50	$	-	
11/01/27	$	11,440,000.00	$	-	$	276,182.50	$	792,300.00	
05/01/28	$	11,440,000.00	$	245,000.00	$	276,182.50	$	-	
11/01/28	$	11,195,000.00	$	-	$	270,792.50	$	791,975.00	
05/01/29	$	11,195,000.00	$	260,000.00	$	270,792.50	$	-	
11/01/29	$	10,935,000.00	$	-	$	265,072.50	$	795,865.00	
05/01/30	$	10,935,000.00	$	270,000.00	$	265,072.50	$	-	
11/01/30	$	10,665,000.00	$	-	$	259,132.50	$	794,205.00	
05/01/31	$	10,090,000.00	$	280,000.00	$	259,132.50	$	-	
11/01/31	$	10,090,000.00	$	-	$	252,972.50	$	792,105.00	
05/01/32	$	10,090,000.00	$	295,000.00	$	252,972.50	$	-	
11/01/32	$	10,090,000.00	$	-	$	246,482.50	$	794,455.00	
05/01/33	$	10,090,000.00	$	310,000.00	$	246,482.50	$	-	
11/01/33	$	9,780,000.00	$	-	$	239,197.50	$	795,680.00	
05/01/34	$	9,780,000.00	$	320,000.00	$	239,197.50	$	-	
11/01/34	$	9,460,000.00	$	-	$	231,677.50	$	790,875.00	
05/01/35	$	9,460,000.00	$	340,000.00	$	231,677.50	$	-	
11/01/35	$	9,120,000.00	$	-	$	223,687.50	$	795,365.00	
05/01/36	$	9,120,000.00	$	355,000.00	$	223,687.50	$	-	
11/01/36	$	8,765,000.00	$	-	$	215,345.00	$	794,032.50	
05/01/37	$	8,765,000.00	$	370,000.00	$	215,345.00	$	-	
11/01/37	$	8,395,000.00	$	-	$	206,650.00	$	791,995.00	
05/01/38	$	8,395,000.00	$	390,000.00	$	206,650.00	$	-	
11/01/38	$	8,005,000.00	$	-	$	197,485.00	$	794,135.00	
05/01/39	$	8,005,000.00	$	410,000.00	$	197,485.00	$	-	
11/01/39	$	7,595,000.00	$	-	$	187,850.00	$	795,335.00	
05/01/40	$	7,595,000.00	$	430,000.00	$	187,850.00	$	-	
11/01/40	$	6,245,000.00	$	-	$	177,745.00	$	795,595.00	
05/01/41	$	6,245,000.00	$	450,000.00	$	177,745.00	$	-	
11/01/41	$	6,245,000.00	$	-	$	167,170.00	$	794,915.00	
05/01/42	$	6,245,000.00	$	470,000.00	$	167,170.00	$	-	
11/01/42	$	6,245,000.00	$	-	$	156,125.00	$	793,295.00	
05/01/43	$	6,245,000.00	$	495,000.00	$	156,125.00	$	-	
11/01/43	$	5,750,000.00	$	-	$	143,750.00	$	794,875.00	
05/01/44	$	5,750,000.00	$	520,000.00	$	143,750.00	$	-	
11/01/44	$	5,230,000.00	$	-	$	130,750.00	$	794,500.00	
05/01/45	$	5,230,000.00	$	545,000.00	$	130,750.00	$	-	
11/01/45	$	4,685,000.00	$	-	$	117,125.00	$	792,875.00	
05/01/46	$	4,685,000.00	$	575,000.00	$	117,125.00	$	-	
11/01/46	$	4,110,000.00	$	-	$	102,750.00	$	794,875.00	

Date		Balance		Prinicpal		Interest		Total	

05/01/47	
$	
4,110,000.00	
$	
600,000.00	
$	
102,750.00	
$	
-	
11/01/47	$	3,510,000.00	$	-	$	87,750.00	$	790,500.00	
05/01/48	$	3,510,000.00	$	635,000.00	$	87,750.00	$	-	
11/01/48	$	2,875,000.00	$	-	$	71,875.00	$	794,625.00	
05/01/49	$	2,875,000.00	$	665,000.00	$	71,875.00	$	-	
11/01/49	$	2,210,000.00	$	-	$	55,250.00	$	792,125.00	
05/01/50	$	2,210,000.00	$	700,000.00	$	55,250.00	$	-	
11/01/50	$	1,510,000.00	$	-	$	37,750.00	$	793,000.00	
05/01/51	$	1,510,000.00	$	735,000.00	$	37,750.00	$	-	
11/01/51	$	775,000.00	$	-	$	19,375.00	$	792,125.00	
05/01/52	$	775,000.00	$	775,000.00	$	19,375.00	$	794,375.00	
			$	12,115,000.00	$	10,104,162.50	$	22,219,162.50	

Adopted Budget Capital Reserve Fund

	Adopted Budget FY2025	Actuals Thru 5/31/25	Projected Next
4 Months	Total Projected 9/30/25		Adopted Budget FY2026	

Revenues								
Interest	$	-	$	3,770	$	1,885	$	5,655	$	2,828	
Carry Forward Surplus	$	-	$	126,155	$	-	$	126,155	$	200,279	
Total Revenues	$	-	$	129,925	$	1,885	$	131,810	$	203,107	

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

Other Financing Sources/(Uses)								
Transfer In (Out)	$	68,469	$	68,469	$	-	$	68,469	$	28,990	
Total Other Financing Sources/(Uses)	$	68,469	$	68,469	$	-	$	68,469	$	28,990	
								
Excess Revenues/(Expenditures)	$	68,469	$	198,394	$	1,885	$	200,279	$	232,097