Cypress Bluff
Community Development District

Adopted Budget FY 2023

Cypress Bluff
Community Development District

TABLE OF CONTENTS

General Fund
Summary of Revenues and Expenses	Page 1-3
Narrative	Page 4-9

Series 2019 Debt Service Fund
Summary of Revenues and Expenses	Page 10
Amortization Schedule	Page 11-12

Series 2020 Debt Service Fund
Summary of Revenues and Expenses	Page 13
Amortization Schedule	Page 14-15

Series 2020A Debt Service Fund
Summary of Revenues and Expenses	Page 16
Amortization Schedule	Page 17-18

Series 2021 Debt Service Fund
Summary of Revenues and Expenses	Page 19
Amortization Schedule	Page 20-21

	Adopted
Budget	Actuals
as of	Projected
Next 3	Total
Projected	Adopted
Budget	
Description	FY 2022	6/30/22	Months	9/30/22	FY 2023	

Revenues						
Assessments	$  907,175	$	912,300	$	-	$	912,300	$	907,175	
Intererst SBA	$	1,000	$	728	$	272	$	1,000	$	1,000	
Other Revenues (Event Fees)	$	10,000	$	10,243	$	3,414	$	13,658	$	20,000	
Carry Forward Surplus	$	-	$	-	$	-	$	-	$	30,715	
Total Revenues	$ 918,175	$	923,272	$	3,686	$	926,958	$	958,890	
Expenditures						
Administrative						
Supervisor Fees	$	12,000	$	4,400	$	3,000	$	7,400	$	12,000	
FICA Expense	$	918	$	275	$	230	$	505	$	918	
Engineering	$	5,000	$	2,177	$	2,823	$	5,000	$	5,000	
Arbitrage	$	1,800	$	1,200	$	1,200	$	2,400	$	2,400	
Dissemination Agent	$	4,000	$	4,133	$	1,413	$	5,546	$	6,000	
Attorney	$	15,000	$	10,121	$	4,879	$	15,000	$	15,000	
Annual Audit	$	8,000	$	-	$	6,000	$	6,000	$	8,000	
Assessment Roll	$	5,000	$	5,000	$	-	$	5,000	$	10,000	
Trustee Fees	$	19,000	$	7,107	$	11,893	$	19,000	$	19,000	
Management Fees	$	46,800	$	35,100	$	11,700	$	46,800	$	49,140	
Information Technology	$	2,500	$	1,875	$	625	$	2,500	$	2,500	
Website Maintenance	$	1,250	$	938	$	313	$	1,250	$	1,250	
Telephone	$	500	$	98	$	150	$	248	$	500	
Postage	$	1,500	$	853	$	647	$	1,500	$	1,500	
Printing & Binding	$	3,000	$	1,473	$	350	$	1,823	$	2,500	
Insurance	$	5,919	$	5,570	$	-	$	5,570	$	6,684	
Legal Advertising	$	4,000	$	1,151	$	795	$	1,946	$	2,500	
Other Current Charges	$	1,000	$	220	$	250	$	470	$	1,000	
Office Supplies	$	600	$	117	$	200	$	317	$	600	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total Administrative	$ 137,962	$	81,981	$	46,468	$	128,449	$	146,667	

	Adopted
Budget	Actuals
as of	Projected
Next 3	Total
Projected	Adopted
Budget	
Description	FY 2022	6/30/22	Months	9/30/22	FY 2023	

Grounds Maintenance						
Pond Maintenance (Water Quality)	$	6,000	$	810	$	270	$	1,080	$	2,000	
Landscape Maintenance	$  285,000	$	249,453	$	83,151	$	332,604	$	332,604	
Landscape Contingency	$	25,000	$	2,342	$	800	$	3,142	$	7,000	
Pump Maintenance	$	3,550	$	-	$	1,250	$	1,250	$	3,550	
Water & Sewer	$	48,000	$	25,344	$	9,000	$	34,344	$	45,000	
Irrigation Repairs	$	3,000	$	9,359	$	641	$	10,000	$	3,000	
Landscape Reserves	$	20,000	$	-	$	2,500	$	2,500	$	7,500	
Pest Control	$	1,920	$	1,440	$	720	$	2,160	$	2,400	
Other Repairs and Maintenance	$	6,000	$	-	$	2,000	$	3,000	$	3,000	
Total Grounds Maintenance	$ 398,470	$	288,748	$	100,332	$	390,080	$	406,054	

Amenity 						
Insurance	$	33,941	$32,155	$	-	$	32,155	$	38,654	
Amenity Manager (VESTA)	$  102,262	$81,698	$	25,566	$	107,264	$	109,505	
Lifestyle Manager	$	13,740	$0	$	-	$	-	$	-	
Pool Maintenance (VESTA)	$	8,844	$6,633	$	2,211	$	8,844	$	9,875	
Pool Chemicals (VESTA)	$	12,500	$9,371	$	3,123	$	12,494	$	13,875	
Facility Attendant (VESTA)	$	64,360	$48,270	$	16,089	$	64,359	$	72,352	
Janitorial Services (VESTA)	$	9,830	$7,373	$	2,457	$	9,830	$	10,828	
Refuse	$	1,500	$1,096	$	390	$	1,486	$	1,547	
Security and Gate Maintenance	$	4,000	$1,644	$	1,150	$	2,794	$	4,000	
Facility Maintenance (VESTA)	$	18,203	$13,652	$	4,551	$	18,203	$	20,765	
Elevator Maintenance	$	3,000	$1,401	$	850	$	2,251	$	3,000	
Electric	$	6,000	$14,635	$	4,860	$	19,495	$	20,400	
Cable and Internet	$	13,000	$7,812	$	2,601	$	10,413	$	10,500	
Licenses and Permits	$	1,000	$408	$	500	$	908	$	1,000	
Repairs & Maintenance	$	6,053	$16,735	$	3,265	$	20,000	$	20,000	
Special Events	$	20,000	$7,744	$	6,500	$	14,244	$	15,000	
Holiday Decorations	$	1,500	$1,197	$	303	$	1,500	$	1,500	
Fitness Center R&M	$	10,000	$6,006	$	2,867	$	8,873	$	10,000	
Fitness Equipment Rentals	$	24,360	$18,074	$	6,342	$	24,416	$	25,368	

	Adopted
Budget	Actuals
as of	Projected
Next 3	Total
Projected	Adopted
Budget	
Description	FY 2022	6/30/22	Months	9/30/22	FY 2023	

Reserve for Amenities	
$	24,650	
$10,687	
$	2,500	
$	13,187	
$	15,000	
Other Current Charges	$	3,000	$5,000	$	-	$	5,000	$	3,000	
Total Amenity	$ 381,743	$	291,590	$	86,124	$	377,714	$	406,169	
						
Total Expenditures	$ 918,175	$	662,319	$	232,924	$	896,243	$	958,890	
						
Excess Revenues (Expenditures)	$	-	$	260,953	$ (229,238)	$	30,715	(0)	

Assessments per unit for FY 2023
Development
Type	Number of
Units	Assessments Per
Category	Assessments Per
Unit (net)	Assessments Per
Unit (gross) (1)	
Active Adult	519	$168,675	$325.00	$351.35	
Residential	1,477	$738,500	$500.00	$540.54	
Total Residential	1,996	$907,175			

(1) Includes provision for the early payment discount of 4% and Duval County collection costs of 3.5%.

REVENUES:

Assessments
The District will levy a non ad-valorem special assessment on all taxable property within the District to fund all of the General Operating Expenditures for the fiscal year. The assessment may either be invoiced directly to the property owner or placed on the Duval County Tax Roll.

Interest SBA
The District will have all excess funds transferred to the Local Government Surplus Funds Trust fund (Florida PRIME) with State Board of Administration (SBA). The amount is based upon the estimated average balance of funds available during the fiscal year.

Other Revenues
Income received from resident rental of Rooftop patio, amenity access fobs, fitness class, etc.

EXPENDITURES:

Administrative:

Supervisor Fees & FICA Expense
Supervisors by Florida statutes are eligible for compensation if elected at $200/meeting. The costs are reflective of anticipated compensation plus FICA matching.

Engineering Fees
The District’s engineer, England-Thims & Miller, Inc will be providing general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review invoices, etc.

Arbitrage
The District is required to annually have an arbitrage rebate calculation on the District’s Series 2019, 2020, 2020A and 2021 Special Assessment Revenue Bonds.

Dissemination
The District has contracted with GMS, LLC to act as the Dissemination Agent for the District to prepare the Annual Disclosure Report required by the Security and Exchange Commission in order to comply with Rule 15(c)(2)-12(b)(5), which relates to additional reporting requirements for un-rated bond issues.

Attorney
The District’s legal counsel, Kutak Rock LLP will be providing general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating & maintenance contracts, etc.

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

Assessment Roll
The District has contracted with Governmental Management Services, LLC for the certification and collection of the District’s annual maintenance and debt service assessments. Assessments on platted lots are collected by agreement with Duval County while unplatted assessments maybe collected directly by District and/or by County Tax Collector.

Trustee Fees
The Trustee at The Bank of New York Mellon administers the District’s Series 2019, 2020, 2020A, and 2021 Special Assessment Revenue Bonds. The amount represents the annual fee for the administration of the District’s bond issue.

Management Fees
The District receives management, accounting and administrative services as part of a management agreement with Governmental Management Services, LLC (“GMS”). These services are further outlined in Exhibit “A” of the Management Agreement with GMS.

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

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

Telephone
Telephone conference costs for District meetings, workshops and committee meetings.

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

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

Insurance
The District’s General Liability & Public Officials Liability Insurance policy is with Florida Insurance Alliance. 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.

Other Current Charges
Estimated bank charges and any other miscellaneous expenses that incurred during the year.

Office Supplies
Miscellaneous office supplies.

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

Grounds Maintenance:

Pond Maintenance (Water Quality)
Estimated costs to maintain ponds in the District.

Landscape Maintenance
The District has contracted with Sun State Nursery & Landscaping Estimated costs related to maintain the common areas of the District.

Vendor	Description	Monthly	Annual	
Sun State Nursery & Landscaping	Landscape Maintenance Ph1	$6,027	$72,324	
	Landscape Maintenance Ph2	$14,210	$170,520	
	E-Town Recharge Center	$3,320	$39,840	
	E-Town Interchange East	$4,160	$49,920	
Total		$ 27,717	$332,604	

Landscape Contingency
Estimated costs for other landscape maintenance incurred by the District.

Pump Maintenance
Estimated costs related to maintain the irrigation pumps in the District.

Water/Sewer
Estimated costs for irrigation by the district for water, sewer and irrigation billed by JEA.

Account#	Location	Monthly	Annual	
Fire Sprinkler 1	10571 E-Town PY	$48	$571	
P405621600	11399 Square ST Apt IR01	$1,212	$14.542	
88781372 -Water	10571 E-Town PY	$74	$893	
88634656	10571 E-Town PY	$1,393	$16,720	
88781372 -Sewer	10571 E-Town PY	$828	$9,939	
	Contingency	$195	$2,335	
Total		$3,750	$45,000	

Irrigation Repairs
Estimated miscellaneous irrigation maintenance and repair costs.

Landscape Reserves
For additional landscape services and possible storm cleanup.

Pest Control
The estimated costs for Turner ‘s Pest Control to provide monthly pest control services.

Vendor	Description	Monthly	Annual	
Turner Pest Control	Pest Control	$200	$2,400	
Total			$2,400	

Other Repairs and Maintenance
Estimated costs for other repairs and maintenance incurred by the district.

Amenity:

Insurance
The District's Property Insurance policy is with Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies. The amount budgeted represents the estimated premium for property insurance related to the Amenity Center.

Amenity Manager
The District contracted with Vesta Property Services to provide management services for the Amenity Center.

Pool Maintenance
The District has contracted with Vesta to maintain the Amenity swimming pools.

Pool Chemicals
The District has contracted with Vesta for purchase and delivery of pool chemicals for the maintenance of the Amenity Center swimming pools.

Facility Attendant
The District has contracted with Vesta to provide community facility staff for the amenity center to greet patrons, providing facility tours, issuance of access cards and policy enforcement.

Janitorial Services
The District utilizes the services of Vesta Property Services to provide janitorial services.

Refuse
This item includes Waste Pro Management picking up trash from the receptacles at the Amenity Center.

Vendor	Description	Monthly	Annual	
Waste Pro	Refuse	$125	$1,500	
Total			$1,500	

Security and Gate Maintenance
Estimated maintenance costs of the security cameras and gate.

Facility Maintenance
The District utilizes the services of Vesta Property Services to provide maintenance and repairs necessary for upkeep of the Amenity Center and common grounds area.

Elevator Maintenance
Estimated costs to provide maintenance and repairs necessary for upkeep of the Amenity Center elevator.

Electric
JEA provides for electric services for the District. The cost of electric associated with the Recreation Facilities:

Account#	Location	Monthly	Annual	
22970659	10923 E-Town PY Apt IR01	$12	$144	
23679519	11145 E-Town PY Apt IR01	$135	$1,620	
24059037	11399 Square St Apt IR02	$15	$180	
22972246	10505 E-Town PY Apt IR01	$15	$180	
21277318	10571 E-Town PY	$700	$8,400	
23408499	11399 Square St Apt IR03	$780	$9,360	
	Contingency	$43	$516	
Total		$1,700	$20,400	

Cable and Internet
The District has contracted with Comcast for cable and internet in the Amenity Center.

Account#	Location	Monthly	Annual	
8495741213305280	10571 E-Town Pkwy (Fitness)	$525	$6,300	
8495741213305083	10571 E-Town Pkwy (Outdoor)	$350	$4,200	
Total		$885	$10,500	

License and Permits
Represents license fees for the amenity center and permit fees paid to the Florida Department of Health in St. Johns County for the swimming pools.

Repair and Replacements
Any costs related to miscellaneous repairs and maintenance that occur during the fiscal year.

Special Events
Represents estimated costs for the District to host special events for the community through the Fiscal Year.

Holiday Decorations
Represents estimated costs for the District to decorate the Amenity center for the holidays.

Fitness Center R&M
Estimated costs to provide maintenance and repairs necessary for upkeep of the Amenity Fitness Center.

Fitness Equipment Rentals
The District has contracted with Macrolease to rent fitness equipment

Vendor	Description	Monthly	Annual	
Macrolease	Fitness equipment Rental	$2,114	$25,368	
Total			$25,368	

Reserve for Amenities
Establishment of general reserve to fund future replacement.

Other Current Charges
Represents miscellaneous costs incurred by the District.

Cypress Bluff
Community Development District Series 2019 Debt Service Fund Approved Budget

	Adopted
Budget	Actuals
as of	Projected
Next 3	Total
Projected	Adopted
Budget	
Description	FY 2022	6/30/22	Months	9/30/22	FY 2023	

Revenues						
Special Assessments	$	731,682	$	732,541	$	-	$	732,541	$	731,682	
Assessments-Prepayments	$	-	$	15,689	$	-	$	15,689	$	-	
Assessments-True Up	$	-	$	22,181	$	-	$	22,181	$	-	
Assessments-Interest Prepayments	$	-	$	552	$	-	$	552	$	-	
Interest Income	$	200	$	517	$	120	$	637	$	700	
Carry Forward Surplus	$	269,727	$	284,387	$	-	$	284,387	$	270,060	
Total Revenues	$	1,001,609	$	1,055,866	$	120	$ 1,055,986	$ 1,002,443	

Expenditures						
Series 2019
Interest Expense 11/1	
$	261,417	
$	260,686	
$	-	
$	260,686	
$	256,102	
Special Call 11/1	$	-	$	15,000	$	-	$	15,000	$	-	
Interest 2/1	$	-	$	64	$	-	$	64	$	-	
Special Call 2/1	$	-	$	5,000	$	-	$	5,000	$	-	
Principal Expense 5/1	$	210,000	$	210,000	$	-	$	210,000	$	215,000	
Special Call 5/1	$	-	$	35,000	$	-	$	35,000	$	-	
Interest Expense 5/1	$	261,417	$	260,176	$	-	$	260,176	$	256,102	
Total Expenditures	$	732,834	$	785,926	$	-	$	785,926	$	727,204	
						
Excess Revenues/(Expenditures)	$	268,776	$	269,940	$	120	$	270,060	$	275,239	

11/1/23 Interest Payment	$	252,071

Assessments per unit for FY 2023
Development
Type	
Units	Gross
Per Unit	Gross
Assessments (1)	
SF- Active Adult Lots	346	$405	$140,130	
SF- Residential	777	$838	$651,126	
Gross Annual Assessment			$791,256	
Less Disc. + Collections 7.5%			($59,574)	
Net Annual Assessment			$731,682	

(1) include 3.5% collection costs of Duval County and maximum early payment discount

Period	Annual	Interest		Annual	Bond	
Ending	Principal	Rate	Interest	Debt	Balance	

11/1/22			$	256,101.88	$	727,519	$	10,545,000	
5/1/23	$	215,000	3.75%	$	256,101.88		$	10,330,000	
11/1/23			$	252,070.63	$	723,173	$	10,330,000	
5/1/24	$	225,000	3.75%	$	252,070.63		$	10,105,000	
11/1/24			$	247,851.88	$	724,923	$	10,105,000	
5/1/25	$	235,000	4.125%	$	247,851.88		$	9,870,000	
11/1/25			$	243,005.00	$	725,857	$	9,870,000	
5/1/26	$	245,000	4.125%	$	243,005.00		$	9,625,000	
11/1/26			$	237,951.88	$	725,957	$	9,625,000	
5/1/27	$	255,000	4.125%	$	237,951.88		$	9,370,000	
11/1/27			$	232,692.50	$	725,644	$	9,370,000	
5/1/28	$	265,000	4.125%	$	232,692.50		$	9,105,000	
11/1/28			$	227,226.88	$	724,919	$	9,105,000	
5/1/29	$	275,000	4.125%	$	227,226.88		$	8,830,000	
11/1/29			$	221,555.00	$	723,782	$	8,830,000	
5/1/30	$	285,000	4.125%	$	221,555.00		$	8,545,000	
11/1/30			$	214,572.50	$	721,128	$	8,545,000	
5/1/31	$	300,000	4.90%	$	214,572.50		$	8,245,000	
11/1/31			$	207,222.50	$	721,795	$	8,245,000	
5/1/32	$	315,000	4.90%	$	207,222.50		$	7,930,000	
11/1/32			$	199,505.00	$	721,728	$	7,930,000	
5/1/33	$	335,000	4.90%	$	199,505.00		$	7,595,000	
11/1/33			$	191,297.50	$	725,803	$	7,595,000	
5/1/34	$	350,000	4.90%	$	191,297.50		$	7,245,000	
11/1/34			$	182,722.50	$	724,020	$	7,245,000	
5/1/35	$	365,000	4.90%	$	182,722.50		$	6,880,000	
11/1/35			$	173,780.00	$	721,503	$	6,880,000	
5/1/36	$	385,000	4.90%	$	173,780.00		$	6,495,000	
11/1/36			$	164,347.50	$	723,128	$	6,495,000	
5/1/37	$	405,000	4.90%	$	164,347.50		$	6,090,000	
11/1/37			$	154,425.00	$	723,773	$	6,090,000	
5/1/38	$	425,000	4.90%	$	154,425.00		$	5,665,000	
11/1/38			$	144,012.50	$	723,438	$	5,665,000	
5/1/39	$	445,000	4.90%	$	144,012.50		$	5,220,000	
11/1/39			$	133,110.00	$	722,123	$	5,220,000	
5/1/40	$	470,000	5.10%	$	133,110.00		$	4,750,000	
11/1/40			$	121,125.00	$	724,235	$	4,750,000	
5/1/41	$	495,000	5.10%	$	121,125.00		$	4,255,000	
11/1/41			$	108,502.50	$	724,628	$	4,255,000	

Period
Ending	Annual
Principal	Interest
Rate	
Interest	Annual
Debt	Bond
Balance	
						
5/1/42	$	520,000	5.10%	$	108,502.50		$	3,735,000	
11/1/42			$	95,242.50	$	723,745	$	3,735,000	
5/1/43	$	545,000	5.10%	$	95,242.50		$	3,190,000	
11/1/43			$	81,345.00	$	721,588	$	3,190,000	
5/1/44	$	575,000	5.10%	$	81,345.00		$	2,615,000	
11/1/44			$	66,682.50	$	723,028	$	2,615,000	
5/1/45	$	605,000	5.10%	$	66,682.50		$	2,010,000	
11/1/45			$	51,255.00	$	722,938	$	2,010,000	
5/1/46	$	635,000	5.10%	$	51,255.00		$	1,375,000	
11/1/46			$	35,062.50	$	721,318	$	1,375,000	
5/1/47	$	670,000	5.10%	$	35,062.50		$	705,000	
11/1/47			$	17,977.50	$	723,040	$	705,000	
5/1/48	$	705,000	5.10%	$	17,977.50		$	-	
Total	$ 10,545,000	$	8,521,286.30	$	18,814,726	

Cypress Bluff
Community Development District Series 2020 Debt Service Fund Approved Budget

	Adopted
Budget	Actuals
as of	Projected
Next 3	Total
Projected	Adopted
Budget	
Description	FY2021	6/30/22	Months	9/30/22	FY 2023	

Revenues						
Special Assessments	$	494,600	$	494,604	$	-	$	494,604	$	494,600	
Interest Income	$	100	$	249	$	100	$	349	$	500	
Carry Forward Surplus	$	312,416	$	312,480	$	-	$	312,480	$	315,480	
Total Revenues	$	807,116	$	807,333	$	100	$	807,433	$	810,580	

Expenditures						
Series 2020
Interest Expense 11/1	
$	182,244	
$	182,244	
$	-	
$	182,244	
$	179,709	
Principal Expense 11/1	$	130,000	$	130,000	$	-	$	130,000	$	135,000	
Interest Expense 5/1	$	179,709	$	179,709	$	-	$	179,709	$	177,076	
Total Expenditures	$	491,953	$	491,953	$	-	$	491,953	$	491,785	
						
Excess Revenues/(Expenditures)	$	315,164	$	315,380	$	100	$	315,480	$	318,795	

11/1/23 Interest Payment	
$	
177,076	
11/1/23 Principal Payment  $	140,000 
TOTAL  $	317,076 

Assessments per unit for FY 2023
Development
Type	Number of
Units	Gross
Per Unit	Gross
Assessments (1)	
SF- Active Adult Lots	172	$405.37	$69,724	
SF- Residential	555	$838.80	$465,534	
Total Gross Assessments			$535,258	
Less Disc. + Collections 7.5%			($40,658)	

13

Period		Interest		Annual Debt	Bond	
Ending	Principal	Rate	Interest	Service	Balance	

11/1/22	135,000	3.90%	179,709	494,418	7,150,000	
5/1/23	-		177,076	-	7,150,000	
11/1/23	140,000	3.90%	177,076	494,153	7,010,000	
5/1/24	-		174,346	-	7,010,000	
11/1/24	145,000	3.90%	174,346	493,693	6,865,000	
5/1/25	-		171,519	-	6,865,000	
11/1/25	150,000	3.90%	171,519	493,038	6,715,000	
5/1/26	-		168,594	-	6,715,000	
11/1/26	155,000	4.35%	168,594	492,188	6,560,000	
5/1/27	-		165,223	-	6,560,000	
11/1/27	160,000	4.35%	165,223	490,445	6,400,000	
5/1/28	-		161,743	-	6,400,000	
11/1/28	170,000	4.35%	161,743	493,485	6,230,000	
5/1/29	-		158,045	-	6,230,000	
11/1/29	175,000	4.35%	158,045	491,090	6,055,000	
5/1/30	-		154,239	-	6,055,000	
11/1/30	185,000	4.35%	154,239	493,478	5,870,000	
5/1/31	-		150,215	-	5,870,000	
11/1/31	190,000	5.00%	150,215	490,430	5,680,000	
5/1/32	-		145,465	-	5,680,000	
11/1/32	200,000	5.00%	145,465	490,930	5,480,000	
5/1/33	-		140,465	-	5,480,000	
11/1/33	210,000	5.00%	140,465	490,930	5,270,000	
5/1/34	-		135,215	-	5,270,000	
11/1/34	220,000	5.00%	135,215	490,430	5,050,000	
5/1/35	-		129,715	-	5,050,000	
11/1/35	235,000	5.00%	129,715	494,430	4,815,000	
5/1/36	-		123,840	-	4,815,000	
11/1/36	245,000	5.00%	123,840	492,680	4,570,000	
5/1/37	-		117,715	-	4,570,000	
11/1/37	255,000	5.00%	117,715	490,430	4,315,000	
5/1/38	-		111,340	-	4,315,000	
11/1/38	270,000	5.00%	111,340	492,680	4,045,000	
5/1/39	-		104,590	-	4,045,000	
11/1/39	285,000	5.00%	104,590	494,180	3,760,000	
5/1/40	-		97,465	-	3,760,000	
11/1/40	295,000	5.00%	97,465	489,930	3,465,000	
5/1/41	-		90,090	-	3,465,000	
11/1/41	310,000	5.20%	90,090	490,180	3,155,000	
5/1/42	-		82,030	-	3,155,000	
11/1/42	330,000	5.20%	82,030	494,060	2,825,000	
5/1/43	-		73,450	-	2,825,000	
11/1/43	345,000	5.20%	73,450	491,900	2,480,000	
5/1/44	-		64,480	-	2,480,000	
11/1/44	365,000	5.20%	64,480	493,960	2,115,000	
5/1/45	-		54,990	-	2,115,000	

Period
Ending	
Principal	Interest
Rate	
Interest	Annual Debt
Service	Bond
Balance	
						
11/1/45	380,000	5.20%	54,990	489,980	1,735,000	
5/1/46	-		45,110	-	1,735,000	
11/1/46	400,000	5.20%	45,110	490,220	1,335,000	
5/1/47	-		34,710	-	1,335,000	
11/1/47	420,000	5.20%	34,710	489,420	915,000	
5/1/48	-		23,790	-	915,000	
11/1/48	445,000	5.20%	23,790	492,580	470,000	
5/1/49	-		12,220	-	470,000	
11/1/49	470,000	5.20%	12,220	494,440	-	
Total	7,285,000		6,859,262.50	14,274,262.50		

Cypress Bluff
Community Development District Series 2020A Debt Service Fund (Del Webb) Approved Budget

	Proposed
Budget	Actuals
as of	Projected
Next 3	Total
Projected	Adopted
Budget	
Description	FY2021	6/30/22	Months	9/30/22	FY 2023	

Revenues						
Special Assessments	$	424,769	$	425,813	$	-	$	425,813	$	424,769	
Interest Income	$	100	$	278	$	100	$	378	$	500	
Assessments- Prepayments	$	-	$	11,068	$	-	$	11,068	$	-	
Carry Forward Surplus	$	140,680	$	140,632	$	-	$	140,632	$	144,693	
Total Revenues	$	565,549	$	577,791	$	100	$	577,891	$	569,963	

Expenditures						
Series 2020A						
Interest Expense 11/1	$	134,139	$134,139	$	-	$	134,139	$	131,884	
Interest Expense Prepay - 2/1	$	-	$81	$	-	$	81	$	-	
Principal Expense Prepay - 2/1	$	-	$10,000	$	-	$	10,000	$	-	
Principal Expense 5/1	$	155,000	$	155,000	$	-	$	155,000	$	160,000	
Interest Expense 5/1	$	134,139	$	133,977	$	-	$	133,977	$	131,884	
Total Expenditures	$	423,279	$	433,198	$	-	$	433,198	$	423,769	
						
Excess Revenues/(Expenditures)	$	142,270	$	144,593	$	100	$	144,693	$	146,194	

11/1/23 Interest Payment	
$	
129,724	

Assessments per unit for FY 2023	
Lot	Unit	Net Per	Gross Per	Gross	
Size	Count	Unit	Unit	Assessments (1)	
40'	188	$669	$724	$136,117	
50'	199	$837	$905	$180,068	
60'	132	$1,004	$1,085	$143,274	
Gross Annual Assessme	nt			$459,459	
Less Disc. + Collections 7.5%	($34,689)

Net Annual Assessment	$424,769

(1) include 3.5% collection costs of Duval County and maximum early payment discount of 4%.

Period		Interest		Annual	Bond	
Ending	Principal	Rate	Interest	Debt Service	Balance	

11/1/22			131,884.38	420,861	7,370,000	
5/1/23	160,000	2.70%	131,884.38		7,210,000	
11/1/23			129,724.38	421,609	7,210,000	
5/1/24	165,000	2.70%	129,724.38		7,045,000	
11/1/24			127,496.88	422,221	7,045,000	
5/1/25	165,000	2.70%	127,496.88		6,875,000	
11/1/25			125,269.38	417,766	6,875,000	
5/1/26	175,000	3.13%	125,269.38		6,700,000	
11/1/26			122,535.00	422,804	6,700,000	
5/1/27	180,000	3.13%	122,535.00		6,520,000	
11/1/27			119,722.50	422,258	6,520,000	
5/1/28	185,000	3.13%	119,722.50		6,335,000	
11/1/28			116,831.88	421,554	6,335,000	
5/1/29	190,000	3.13%	116,831.88		6,145,000	
11/1/29			113,863.13	420,695	6,145,000	
5/1/30	200,000	3.13%	113,863.13		5,945,000	
11/1/30			110,738.13	424,601	5,945,000	
5/1/31	205,000	3.63%	110,738.13		5,740,000	
11/1/31			107,022.50	422,761	5,740,000	
5/1/32	210,000	3.63%	107,022.50		5,530,000	
11/1/32			103,216.25	420,239	5,530,000	
5/1/33	220,000	3.63%	103,216.25		5,310,000	
11/1/33			99,228.75	422,445	5,310,000	
5/1/34	230,000	3.63%	99,228.75		5,080,000	
11/1/34			95,060.00	424,289	5,080,000	
5/1/35	235,000	3.63%	95,060.00		4,845,000	
11/1/35			90,800.63	420,861	4,845,000	
5/1/36	245,000	3.63%	90,800.63		4,600,000	
11/1/36			86,360.00	422,161	4,600,000	
5/1/37	255,000	3.63%	86,360.00		4,345,000	
11/1/37			81,738.13	423,098	4,345,000	
5/1/38	265,000	3.63%	81,738.13		4,080,000	
11/1/38			76,935.00	423,673	4,080,000	
5/1/39	275,000	3.63%	76,935.00		3,805,000	
11/1/39			71,950.63	423,886	3,805,000	
5/1/40	285,000	3.63%	71,950.63		3,520,000	
11/1/40			66,785.00	423,736	3,520,000	
5/1/41	295,000	3.80%	66,785.00		3,225,000	
11/1/41			61,180.00	422,965	3,225,000	
5/1/42	305,000	3.80%	61,180.00		2,920,000	
11/1/42			55,385.00	421,565	2,920,000	
5/1/43	320,000	3.80%	55,385.00		2,600,000	
11/1/43			49,305.00	424,690	2,600,000	
5/1/44	330,000	3.80%	49,305.00		2,270,000	

Period Ending	
Principal	Interest Rate	
Interest	Annual Debt Service	Bond Balance	

11/1/44			
43,035.00	
422,340	
2,270,000	
5/1/45	340,000	3.80%	43,035.00		1,925,000	
11/1/45			36,575.00	419,610	1,925,000	
5/1/46	355,000	3.80%	36,575.00		1,570,000	
11/1/46			29,830.00	421,405	1,570,000	
5/1/47	370,000	3.80%	29,830.00		1,200,000	
11/1/47			22,800.00	422,630	1,200,000	
5/1/48	385,000	3.80%	22,800.00		815,000	
11/1/48			15,485.00	423,285	815,000	
5/1/49	400,000	3.80%	15,485.00		415,000	
11/1/49			7,885.00	423,370	415,000	
5/1/50	415,000	3.80%	7,885.00			
11/1/50				422,885		
	7,515,000		4,731,261.98	12,246,261.98		

Cypress Bluff
Community Development District Series 2021 Debt Service Fund Approved Budget

	Proposed
Budget	Actuals
as of	Projected
Next 3	Total
Projected	Adopted
Budget	
Description	FY2022	6/30/22	Months	9/30/22	FY 2023	

Revenues						

Special Assessments	
$	
-	
$	
115,250	
$	
-	
$	
115,250	
$	
115,250	
Interest Income	$	-	$	-	$	-	$	-	$	100	
Carry Forward Surplus	$	-	$	-	$	-	$	-	$	39,519	
Total Revenues	$	-	$	115,250	$	-	$	115,250	$	154,869	

Expenditures					
Series 2020A
Interest Expense 11/1	
$	-	
$	-	
$	-	$	-	
$	34,878	
Principal Expense 5/1	$	40,000	$	40,000	$	-	$	40,000	$	45,000	
Interest Expense 5/1	$	35,731	$	35,731	$	-	$	35,731	$	34,878	
Total Expenditures	$	75,731	$	75,731	$	-	$	75,731	$	114,756	
					
Excess Revenues/(Expenditures)	$	(75,731)	$	39,519	$	-	$	39,519	$	40,113	
			
11/1/23 Interest Payment	
$	34,361	

Assessments per unit for FY 2023
Development
Type	
Units	Gross
Per Unit	Gross
Assessments (1)	
Active Adult Lots	2	$405	$810	
Residential	148	$836	$123,728	
Gross Annual Assessment			$124,538	

Net Annual Assessment	$115,250

Less Disc. + Collections 7.5%	($9,288)

(1) include 3.5% collection costs of Duval County and maximum early payment discount of 4%.

19

Period		Interest		Annual	Bond	
Ending	Principal	Rate	Interest	Debt Service	Balance	

11/1/22			34,878.13	110,609	2,005,000	
5/1/23	45,000	2.300%	34,878.13		1,960,000	
11/1/23			34,360.63	114,239	1,960,000	
5/1/24	45,000	2.300%	34,360.63		1,915,000	
11/1/24			33,843.13	113,204	1,915,000	
5/1/25	45,000	2.300%	33,843.13		1,870,000	
11/1/25			33,325.63	112,169	1,870,000	
5/1/26	45,000	2.300%	33,325.63		1,825,000	
11/1/26			32,808.13	111,134	1,825,000	
5/1/27	50,000	2.875%	32,808.13		1,775,000	
11/1/27			32,089.38	114,898	1,775,000	
5/1/28	50,000	2.875%	32,089.38		1,725,000	
11/1/28			31,370.63	113,460	1,725,000	
5/1/29	50,000	2.875%	31,370.63		1,675,000	
11/1/29			30,651.88	112,023	1,675,000	
5/1/30	50,000	2.875%	30,651.88		1,625,000	
11/1/30			29,933.13	110,585	1,625,000	
5/1/31	55,000	2.875%	29,933.13		1,570,000	
11/1/31			29,142.50	114,076	1,570,000	
5/1/32	55,000	3.300%	29,142.50		1,515,000	
11/1/32			28,235.00	112,378	1,515,000	
5/1/33	55,000	3.300%	28,235.00		1,460,000	
11/1/33			27,327.50	110,563	1,460,000	
5/1/34	60,000	3.300%	27,327.50		1,400,000	
11/1/34			26,337.50	113,665	1,400,000	
5/1/35	60,000	3.300%	26,337.50		1,340,000	
11/1/35			25,347.50	111,685	1,340,000	
5/1/36	65,000	3.300%	25,347.50		1,275,000	
11/1/36			24,275.00	114,623	1,275,000	
5/1/37	65,000	3.300%	24,275.00		1,210,000	
11/1/37			23,202.50	112,478	1,210,000	
5/1/38	70,000	3.300%	23,202.50		1,140,000	
11/1/38			22,047.50	115,250	1,140,000	
5/1/39	70,000	3.300%	22,047.50		1,070,000	
11/1/39			20,892.50	112,940	1,070,000	
5/1/40	70,000	3.300%	20,892.50		1,000,000	
11/1/40			19,737.50	110,630	1,000,000	
5/1/41	75,000	3.300%	19,737.50		925,000	
11/1/41			18,500.00	113,238	925,000	
5/1/42	75,000	4.000%	18,500.00		850,000	
11/1/42			17,000.00	110,500	850,000	
5/1/43	80,000	4.000%	17,000.00		770,000	
11/1/43			15,400.00	112,400	770,000	
5/1/44	85,000	4.000%	15,400.00		685,000	
11/1/44			13,700.00	114,100	685,000	
5/1/45	85,000	4.000%	13,700.00		600,000	
11/1/45			12,000.00	110,700	600,000	

Period Ending	
Principal	Interest Rate	
Interest	Annual Debt Service	Bond Balance	

5/1/46	
90,000	
4.000%	
12,000.00		
510,000	
11/1/46			10,200.00	112,200	510,000	
5/1/47	95,000	4.000%	10,200.00		415,000	
11/1/47			8,300.00	113,500	415,000	
5/1/48	100,000	4.000%	8,300.00		315,000	
11/1/48			6,300.00	114,600	315,000	
5/1/49	100,000	4.000%	6,300.00		215,000	
11/1/49			4,300.00	110,600	215,000	
5/1/50	105,000	4.000%	4,300.00		110,000	
11/1/50			2,200.00	111,500	110,000	
5/1/51	110,000	4.000%	2,200.00		$	-	
11/1/51				112,200		
	2,045,000		1,331,142.11	3,376,142.11