Cypress Bluff

Community Development District

Approved Budget
FY2026

Presented by:

Table of Contents

1-2		General Fund	

3-6	
	Narratives	

7	
	Debt Service Fund Series 2019	

8	
	Amortization Schedule Series 2019	

9	
	Debt Service Fund Series 2020	

10	
	Amortization Schedule Series 2020	

11	
	Debt Service Fund Series 2020A	

12	
	Amortization Schedule Series 2020A	

13	
	Debt Service Fund Series 2021	

14	
	Amortization Schedule Series 2021	

15	
	Assessment Schedule	

16	
	Capital Reserve Fund	

Description

Adopted Budget FY 2025

Actuals Thru	Projected Next  Projected Thru

4/30/25

	5 Months	

9/30/25

Approved Budget FY 2026

REVENUES:

Special Assessments	$	1,196,190	$	1,187,385	$	8,805	$  1,196,190	$  1,339,699	
Interest income	5,000	9,752	4,500	14,252	10,000	
Other Revenues (Event Fees)	20,000	10,759	9,241	20,000	20,000	
TOTAL REVENUES	$ 1,221,190	$ 1,207,895	$	22,546	$ 1,230,442	$ 1,369,699	

EXPENDITURES:						
Administrative						
Supervisor Fees	$	12,000	$	4,200	$	5,000	$	9,200	$	12,000	
FICA Expense	918	321	383	704	918	
Engineering	5,000	4,645	4,500	9,145	9,500	
Arbitrage Rebate	2,400	1,200	1,200	2,400	2,400	
Dissemination Agent	7,590	4,528	3,062	7,590	7,969	
Attorney	13,000	3,992	9,008	13,000	13,000	
Annual Audit	6,500	3,500	3,000	6,500	6,500	
Assessment Roll Administration	11,236	11,236	-	11,236	11,798	
Trustee Fees	20,500	22,158	-	22,158	23,000	
Management Fees	55,214	32,208	23,006	55,214	57,974	
Information Technology	2,809	1,639	1,170	2,809	2,949	
Website Maintenance	1,405	820	585	1,405	1,475	
Telephone	500	44	456	500	500	
Postage & Delevery	1,500	750	150	900	1,500	
Printing & Binding	2,500	793	150	943	2,500	
Insurance General Liability	6,817	6,631	-	6,631	7,460	
Legal Advertising	2,500	1,050	1,450	2,500	2,500	
Other Current Charges	500	10	500	510	500	
Office Supplies	600	81	519	600	600	
Dues, Licenses & Subscriptions	175	175	-	175	175	
TOTAL ADMINISTRATIVE	$	153,663	$	99,980	$	54,139	$  154,119	$  165,218	

Operations & Maintenance						
Grounds Maintenance						
Lake Maintenance	$	1,500	$	700	$	500	$	1,200	$	1,500	
Landscape Maintenance	408,925	238,540	170,385	408,925	417,103	
Landscape Contingency	13,000	5,906	5,000	10,906	13,000	
Pump Maintenance	3,550	-	2,500	2,500	3,550	
Water & Sewer	26,720	18,928	6,000	24,928	32,500	
Irrigation Repairs	7,500	5,930	2,500	8,430	10,000	
Pest Control	2,400	1,244	1,156	2,400	2,400	
Environmental Permit/Monitoring	20,000	-	20,000	20,000	20,000	
Other Repairs and Maintenance	5,000	-	5,000	5,000	5,000	
TOTAL GROUNDS MAINTENANCE	$	488,595	$	271,247	$	213,041	$  484,288	$  505,053	

Adopted
Budget	Actuals Thru	Projected Next  Projected Thru

Approved Budget

Description	FY 2025	4/30/25		5 Months		9/30/25	FY 2026	

Amenity Expenditures						
Insurance	$	60,517	$	56,563	$	-	$	56,563	$	61,650	
Amenity Manager (Vesta)	130,127	75,907	49,215	125,122	134,031	
Pool Maintenance (Vesta)	9,876	5,761	4,115	9,876	10,172	
Pool Chemicals (Vesta)	16,649	9,712	6,937	16,649	17,148	
Facility Attendant (Vesta)	77,761	45,361	32,400	77,761	98,500	
Janitorial Services (Vesta)	12,950	7,554	5,396	12,950	13,339	
Refuse	2,160	1,144	1,016	2,160	2,160	
Security and Gate Maintenance	10,000	1,260	8,740	10,000	10,000	
Security Patrol	-	-	-	-	20,000	
Facility Maintenance (Vesta)	20,764	12,112	8,652	20,764	21,387	
Elevator Maintenance	5,000	3,894	1,106	5,000	5,000	
Electric	27,060	11,575	6,000	17,575	20,940	
Cable and Internet	13,200	7,931	7,069	15,000	15,600	
Licenses and Permits	1,000	-	1,000	1,000	1,000	
Repairs & Maintenance	45,000	39,566	40,000	79,566	80,000	
Special Events	35,000	19,047	15,953	35,000	35,000	
Holiday Decorations	1,500	1,019	481	1,500	1,500	
Fitness Center R&M	18,000	11,426	8,574	20,000	20,000	
Fitness Equipment Rentals	25,368	5,074	-	5,074	-	
Reserve for Amenities	55,000	19,450	35,550	55,000	100,000	
Mobile Application	9,000	3,750	5,250	9,000	9,000	
Other Current Charges	3,000	-	3,000	3,000	3,000	
TOTAL AMENITY EXPENDITURES	$	578,932	$	338,107	$	240,452	$  578,559	$  679,427	

Capital Reserve						
Capital Reserve Funding	$	-	$	-	$	-	$	-	$	20,000	
TOTAL CAPITAL RESERVE	$	-	$	-	$	-	$	-	$	20,000	
						
TOTAL EXPENDITURES	$ 1,221,190	$	709,334	$	507,633	$ 1,216,967	$ 1,369,699	
						
EXCESS REVENUES (EXPENDITURES)	$	-	$	498,561	$  (485,086)	$	13,475	$	-	

REVENUES

Special Assessments-Tax Roll
The District will levy a Non-Ad Valorem assessment on all sold and platted parcels within the District in order to pay for the operating expenditures during the Fiscal Year.
Interest Income
The District earns interest on the monthly average collected balance for each of their investment accounts.
Other Revenues (Event Fees)
Income received from resident rental of Rooftop patio, amenity access fobs, fitness class, etc.

Expenditures - Administrative

Supervisors Fees
Chapter 190 of the Florida Statutes allows for members of the Board of Supervisors to be compensated
$200 per meeting in which they attend. The budgeted amount for the fiscal year is based on all supervisors attending 12 meetings.
FICA Taxes
Payroll taxes on Board of Supervisor’s compensation. The budgeted amount for the fiscal year is calculated at 7.65% of the total Board of Supervisor’s payroll expenditures.
Engineering
The District’s 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 Rebate
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 Agent
The District is required by the Security and Exchange Commission to comply with Rule 15(c)(2)-12(b)(5), which relates to additional reporting requirements for un-rated bond issues.
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 Administration
GMS, LLC provides assessment services for closing lot sales, assessment roll services with the local Tax Collector and financial advisory services.
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. The budgeted amount for the fiscal year is based on the contracted fees outlined in Exhibit "A" of the Management Agreement.
Information Technology
Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, security, accounting software, etc.
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.

Expenditures - Administrative (continued)

Telephone
New internet and Wi-Fi service for Office.
Postage and Delivery
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.
Printing and Binding
Copies used in the preparation of agenda packages, required mailings, and other special projects.
Insurance General Liability
The District’s General Liability & Public Officials Liability Insurance policy is with Florida Insurance Alliance. FIA specializes in providing insurance coverage to governmental agencies.
Legal Advertising
The District is required to advertise various notices for monthly Board meetings and other public hearings in a newspaper of general circulation.
Other Current Charges
This includes monthly bank charges and any other miscellaneous expenses that incur during the year.
Office Supplies
Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects.
Due, Licenses & Subscriptions
The District is required to pay an annual fee to the Florida Department of Commerce for $175.

Expenditures – Field

Lake Maintenance
Maintenance costs to maintain lakes and control vegetation and algae. The District currently uses Clear Waters, Inc. and Aerostar SES for storm water inspection services.
Landscape Maintenance
The District has contracted with Sun State Nursery & Landscaping Estimated costs related to maintain the common areas of the District.
Vendor	Decription	Monthly	Annual

Sun State Nursery & Landscaping	E-Town Area 1, 2 & 3
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

$	34,759  $

417,103

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	$	70	$	840	
P405621600-Water	11399 Square ST Apt IR01	900	10,800	
88781372-Water	10571 E-Town PY	100	1,200	
88634656-Irrigation	10571 E-Town PY	1,400	16,800	
88781372-Sewer	10571 E-Town PY	130	1,560	
	Contingency		1,300	
	Total	$	2,600	$	32,500	
Irrigation Repairs
Estimated miscellaneous irrigation maintenance and repair costs.

Expenditures – Field (continued)

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

Turner Pest Control	Pest Contol
Environmental Permit/Monitoring

$	200  $

2,400

An Environmental Resource Permit (ERP) is required for development or construction activities to reduce increased flooding, protect the water quality of Florida's lakes and streams from stormwater pollution, and protect wetlands and other surface waters.

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

Expenditures – 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 (Vesta)
The District contracted with Vesta Property Services to provide management services for the Amenity Center.
Pool Maintenance (Vesta)
The District has contracted with Vesta to maintain the Amenity swimming pools.
Pool Chemicals (Vesta)
The District has contracted with Vesta for purchase and delivery of pool chemicals for the maintenance of the Amenity Center swimming pools.
Facility Attendant (Vesta)
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 (Vesta)
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	Decription	Monthly	Annual

Waste Pro	Refuse
Security and Gate Maintenance
Estimated maintenance costs of the security cameras and gate.
Security Patrol

$	180  $

2,160

Estimates costs for security patrols and mileage reimbursement on District property for off-duty patrols.
Facility Maintenance (Vesta)
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	$	30	$	360	
23679519	11145 Square ST Apt IR01	140	1,680	
24059037	11399 Square St Apt IR02	30	360	
22972246	10505 E-Town PY Apt IR01	30	360	
21277318	10571 E-Town PY	700	8,400	
23408499	11399 Square St Apt IR03	800	9,600	
	Contingency	15	180	
	Total	$	1,745	$	20,940	

Expenditures – Amenity (continued)

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)	$	750	$	9,000	
8495741213305080	10571 E-Town Pkwy (Outdoor)	550	6,600	
	Total	$	1,300	$	15,600	
Licenses 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.
Repairs & Maintenance
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.
Reserve for Amenities
Establishment of general reserve to fund future replacement.
Mobile Application
Alternative mobile communication of information related to Amenity Facilities for residents and patrons included but not limited to hours of operations, resident programs, special events, and other services for the District.
Other Current Charges
Represents miscellaneous costs incurred by the District.

 Expenditures – Reserves	

General Reserves
Establishment of general reserve to fund future replacements of Capital items.

Approved Budget
Debt Service Series 2019 Special Assessment Bonds

Description

Adopted Budget FY 2025

Actuals Thru	Projected Next  Projected Thru

4/30/25

	5 Months	

9/30/25

Approved Budget FY 2026

REVENUES:

Special Assessments	$	723,124	$	717,986	$	5,995	$	723,981	$	723,981	
Interest Earnings	5,000	18,687	10,000	28,687	5,000	
Carry Forward Surplus (1)	335,466	402,739	-	402,739	412,284	
TOTAL REVENUES	$ 1,063,590	$ 1,139,412	$	15,995	$  1,155,407	$ 1,141,265	

EXPENDITURES:						
Interest - 11/1	$	246,562	$	246,562	$	-	$	246,562	$	241,313	
Principal Prepayment - 11/1	-	15,000	-	15,000	-	
Interest - 5/1	246,562	-	246,562	246,562	241,313	
Principal - 5/1	230,000	-	230,000	230,000	240,000	
Principal Prepayment - 5/1	-	-	5,000	5,000	-	
TOTAL EXPENDITURES	$	723,124	$	261,562	$	481,562	$	743,124	$	722,626	

Other Sources/(Uses)						

Interfund transfer In/(Out)	
$	-	
$	-	
$	-	
$	-	
$	-	
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	
						
TOTAL EXPENDITURES	$	723,124	$	261,562	$	481,562	$	743,124	$	722,626	
						
EXCESS REVENUES (EXPENDITURES)	$	340,466	$	877,850	$  (465,567)	$	412,284	$	418,639	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/26

 $	236,363 

AMORTIZATION SCHEDULE
Debt Service Series 2019 Special Assessment Bonds

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

11/01/25	$	9,800,000			$	241,313	$	241,313	
05/01/26	9,800,000	4.125%	240,000	241,313		
11/01/26	9,560,000			236,363	717,676	
05/01/27	9,560,000	4.125%	250,000	236,363		
11/01/27	9,310,000			231,207	717,570	
05/01/28	9,310,000	4.125%	260,000	231,207		
11/01/28	9,050,000			225,844	717,051	
05/01/29	9,050,000	4.125%	275,000	225,844		
11/01/29	8,775,000			220,173	721,017	
05/01/30	8,775,000	4.900%	285,000	220,173		
11/01/30	8,490,000			213,190	718,363	
05/01/31	8,490,000	4.900%	300,000	213,190		
11/01/31	8,190,000			205,840	719,030	
05/01/32	8,190,000	4.900%	315,000	205,840		
11/01/32	7,875,000			198,123	718,963	
05/01/33	7,875,000	4.900%	330,000	198,123		
11/01/33	7,545,000			190,038	718,160	
05/01/34	7,545,000	4.900%	345,000	190,038		
11/01/34	7,200,000			181,585	716,623	
05/01/35	7,200,000	4.900%	365,000	181,585		
11/01/35	6,835,000			172,643	719,228	
05/01/36	6,835,000	4.900%	385,000	172,643		
11/01/36	6,450,000			163,210	720,853	
05/01/37	6,450,000	4.900%	400,000	163,210		
11/01/37	6,050,000			153,410	716,620	
05/01/38	6,050,000	4.900%	420,000	153,410		
11/01/38	5,630,000			143,120	716,530	
05/01/39	5,630,000	4.900%	445,000	143,120		
11/01/39	5,185,000			132,218	720,338	
05/01/40	5,185,000	5.100%	465,000	132,218		
11/01/40	4,720,000			120,360	717,578	
05/01/41	4,720,000	5.100%	490,000	120,360		
11/01/41	4,230,000			107,865	718,225	
05/01/42	4,230,000	5.100%	515,000	107,865		
11/01/42	3,715,000			94,733	717,598	
05/01/43	3,715,000	5.100%	545,000	94,733		
11/01/43	3,170,000			80,835	720,568	
05/01/44	3,170,000	5.100%	570,000	80,835		
11/01/44	2,600,000			66,300	717,135	
05/01/45	2,600,000	5.100%	600,000	66,300		
11/01/45	2,000,000			51,000	717,300	
05/01/46	2,000,000	5.100%	635,000	51,000		
11/01/46	1,365,000			34,808	720,808	
05/01/47	1,365,000	5.100%	665,000	34,808		
11/01/47	700,000			17,850	717,658	
05/01/48	700,000	5.100%	700,000	17,850	717,850	
Total	$	9,800,000	$	6,964,050	$	16,764,050	

Approved Budget
Debt Service Series 2020 Special Assessment Bonds

Description

Adopted Budget FY 2025

Actuals Thru	Projected Next  Projected Thru

4/30/25

	5 Months	

9/30/25

Approved Budget FY 2026

REVENUES:

Special Assessments	$	494,600	$	490,198	$	3,627	$	493,825	$	493,825	
Prepayments	-	4,773	-	4,773	-	
Interest Earnings	10,000	13,494	8,000	21,494	10,000	
Carry Forward Surplus (1)	367,386	377,343	-	377,343	396,570	
TOTAL REVENUES	$	871,986	$	885,808	$	11,627	$	897,435	$	900,395	

EXPENDITURES:						
Interest - 11/1	$	174,346	$	174,346	$	-	$	174,346	$	171,259	
Principal - 11/1	145,000	145,000	-	145,000	150,000	
Interest - 5/1	171,519	-	171,519	171,519	168,334	
Principal Prepayment - 5/1	-		10,000	10,000	-	
TOTAL EXPENDITURES	$	490,865	$	319,346	$	181,519	$	500,865	$	489,593	

Other Sources/(Uses)						

Interfund transfer In/(Out)	
$	-	
$	-	
$	-	
$	-	
$	-	
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	
						
TOTAL EXPENDITURES	$	490,865	$	319,346	$	181,519	$	500,865	$	489,593	
						
EXCESS REVENUES (EXPENDITURES)	$	381,121	$	566,461	$  (169,892)	$	396,570	$	410,802	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/26 Principal Due 11/1/26

$	168,334
155,000

 $	323,334 

AMORTIZATION SCHEDULE
Debt Service Series 2020 Special Assessment Bonds

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

	11/01/25	$	6,855,000	3.900%	$	150,000	$	171,259	$	321,259	
	05/01/26	6,705,000			168,334		
	11/01/26	6,705,000	4.350%	155,000	168,334	491,667.50	
	05/01/27	6,550,000			164,963		
	11/01/27	6,550,000	4.350%	160,000	164,963	489,925.00	
	05/01/28	6,390,000			161,483		
	11/01/28	6,390,000	4.350%	170,000	161,483	492,965.00	
	05/01/29	6,220,000			157,785		
	11/01/29	6,220,000	4.350%	175,000	157,785	490,570.00	
	05/01/30	6,045,000			153,979		
	11/01/30	6,045,000	4.350%	185,000	153,979	492,957.50	
	05/01/31	5,860,000			149,955		
	11/01/31	5,860,000	5.000%	190,000	149,955	489,910.00	
	05/01/32	5,670,000			145,205		
	11/01/32	5,670,000	5.000%	200,000	145,205	490,410.00	
	05/01/33	5,470,000			140,205		
	11/01/33	5,470,000	5.000%	210,000	140,205	490,410.00	
	05/01/34	5,260,000			134,955		
	11/01/34	5,260,000	5.000%	220,000	134,955	489,910.00	
	05/01/35	5,040,000			129,455		
	11/01/35	5,040,000	5.000%	235,000	129,455	493,910.00	
	05/01/36	4,805,000			123,580		
	11/01/36	4,805,000	5.000%	245,000	123,580	492,160.00	
	05/01/37	4,560,000			117,455		
	11/01/37	4,560,000	5.000%	255,000	117,455	489,910.00	
	05/01/38	4,305,000			111,080		
	11/01/38	4,305,000	5.000%	270,000	111,080	492,160.00	
	05/01/39	4,035,000			104,330		
	11/01/39	4,035,000	5.000%	285,000	104,330	493,660.00	
	05/01/40	3,750,000			97,205		
	11/01/40	3,750,000	5.000%	295,000	97,205	489,410.00	
	05/01/41	3,455,000			89,830		
	11/01/41	3,455,000	5.200%	310,000	89,830	489,660.00	
	05/01/42	3,145,000			81,770		
	11/01/42	3,145,000	5.200%	325,000	81,770	488,540.00	
	05/01/43	2,820,000			73,320		
	11/01/43	2,820,000	5.200%	345,000	73,320	491,640.00	
	05/01/44	2,475,000			64,350		
	11/01/44	2,475,000	5.200%	360,000	64,350	488,700.00	
	05/01/45	2,115,000			54,990		
	11/01/45	2,115,000	5.200%	380,000	54,990	489,980.00	
	05/01/46	1,735,000			45,110		
	11/01/46	1,735,000	5.200%	400,000	45,110	490,220.00	
	05/01/47	1,335,000			34,710		
	11/01/47	1,335,000	5.200%	420,000	34,710	489,420.00	
	05/01/48	915,000			23,790		
	11/01/48	915,000	5.200%	445,000	23,790	492,580.00	
	05/01/49	470,000			12,220		
	11/01/49	470,000	5.200%	470,000	12,220	494,440.00	
Total				$	6,855,000	$	5,251,374	$  12,106,374	

Approved Budget
Debt Service Series 2020A Special Assessment Bonds (Del Webb Project)

Description

Adopted Budget FY 2025

Actuals Thru	Projected Next  Projected Thru

4/30/25

	5 Months	

9/30/25

Approved Budget FY 2026

REVENUES:

Special Assessments	$	416,315	$	418,375	$	3,493	$	421,869	$	421,869	
Special Assessments - Prepayments	-	10,291	-	10,291	-	
Interest Earnings	5,000	10,804	5,000	15,804	5,000	
Carry Forward Surplus (1)	178,676	179,712	-	179,712	194,132	
TOTAL REVENUES	$	599,991	$	619,181	$	8,493	$	627,675	$	621,001	

EXPENDITURES:						
Interest - 11/1	$	126,771	$	126,771	$	-	$	126,771	$	124,259	
Interest - 5/1	126,771	-	126,771	126,771	124,259	
Principal - 5/1	165,000	-	165,000	165,000	175,000	
Principal Prepayment - 5/1	-	-	15,000	15,000	-	
TOTAL EXPENDITURES	$	418,543	$	126,771	$	306,771	$	433,543	$	423,518	

Other Sources/(Uses)						

Interfund transfer In/(Out)	
$	-	
$	-	
$	-	
$	-	
$	-	
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	
						
TOTAL EXPENDITURES	$	418,543	$	126,771	$	306,771	$	433,543	$	423,518	
						
EXCESS REVENUES (EXPENDITURES)	$	181,449	$	492,410	$  (298,278)	$	194,132	$	197,483	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/26

 $	121,524 

AMORTIZATION SCHEDULE
Debt Service Series 2020A Special Assessment Bonds (Del Webb Project)

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

11/01/25	$	6,815,000			$	124,259	$	124,259	
05/01/26	6,815,000	3.125%	175,000	124,259		
11/01/26	6,640,000			121,524	420,783.13	
05/01/27	6,640,000	3.125%	180,000	121,524		
11/01/27	6,460,000			118,712	420,236.25	
05/01/28	6,460,000	3.125%	185,000	118,712		
11/01/28	6,275,000			115,821	419,533.13	
05/01/29	6,275,000	3.125%	190,000	115,821		
11/01/29	6,085,000			112,853	418,673.75	
05/01/30	6,085,000	3.125%	195,000	112,853		
11/01/30	5,890,000			109,806	417,658.13	
05/01/31	5,890,000	3.625%	205,000	109,806		
11/01/31	5,685,000			106,090	420,895.63	
05/01/32	5,685,000	3.625%	210,000	106,090		
11/01/32	5,475,000			102,284	418,373.75	
05/01/33	5,475,000	3.625%	220,000	102,284		
11/01/33	5,255,000			98,296	420,580.00	
05/01/34	5,255,000	3.625%	225,000	98,296		
11/01/34	5,030,000			94,218	417,514.38	
05/01/35	5,030,000	3.625%	235,000	94,218		
11/01/35	4,795,000			89,959	419,176.88	
05/01/36	4,795,000	3.625%	245,000	89,959		
11/01/36	4,550,000			85,518	420,476.88	
05/01/37	4,550,000	3.625%	255,000	85,518		
11/01/37	4,295,000			80,896	421,414.38	
05/01/38	4,295,000	3.625%	260,000	80,896		
11/01/38	4,035,000			76,184	417,080.00	
05/01/39	4,035,000	3.625%	270,000	76,184		
11/01/39	3,765,000			71,290	417,473.75	
05/01/40	3,765,000	3.625%	280,000	71,290		
11/01/40	3,485,000			66,215	417,505.00	
05/01/41	3,485,000	3.800%	290,000	66,215		
11/01/41	3,195,000			60,705	416,920.00	
05/01/42	3,195,000	3.800%	305,000	60,705		
11/01/42	2,890,000			54,910	420,615.00	
05/01/43	2,890,000	3.800%	315,000	54,910		
11/01/43	2,575,000			48,925	418,835.00	
05/01/44	2,575,000	3.800%	330,000	48,925		
11/01/44	2,245,000			42,655	421,580.00	
05/01/45	2,245,000	3.800%	340,000	42,655		
11/01/45	1,905,000			36,195	418,850.00	
05/01/46	1,905,000	3.800%	355,000	36,195		
11/01/46	1,550,000			29,450	420,645.00	
05/01/47	1,550,000	3.800%	365,000	29,450		
11/01/47	1,185,000			22,515	416,965.00	
05/01/48	1,185,000	3.800%	380,000	22,515		
11/01/48	805,000			15,295	417,810.00	
05/01/49	805,000	3.800%	395,000	15,295		
11/01/49	410,000			7,790	418,085.00	
05/01/50	410,000	3.800%	410,000	7,790	417,790.00	
Total	$	6,815,000	$	3,784,729	$	10,599,729	

Approved Budget
Debt Service Series 2021 Special Assessment Bonds

Description

Adopted Budget FY 2025

Actuals Thru	Projected Next  Projected Thru

4/30/25

	5 Months	

9/30/25

Approved Budget FY 2026

REVENUES:

Special Assessments	$	114,450	$	115,064	$	186	$	115,250	$	115,250	
Interest Earnings	2,000	2,721	1,000	3,721	2,000	
Carry Forward Surplus (1)	44,853	44,617	-	44,617	50,902	
TOTAL REVENUES	$	161,303	$	162,403	$	1,186	$	163,588	$	168,152	

EXPENDITURES:						
Interest - 11/1	$	33,843	$	33,843	$	-	$	33,843	$	33,326	
Interest - 5/1	33,843	-	33,843	33,843	33,326	
Principal - 5/1	45,000	-	45,000	45,000	45,000	
TOTAL EXPENDITURES	$	112,686	$	33,843	$	78,843	$	112,686	$	111,651	

Other Sources/(Uses)						

Interfund transfer In/(Out)	
$	-	
$	-	
$	-	
$	-	
$	-	
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	
						
TOTAL EXPENDITURES	$	112,686	$	33,843	$	78,843	$	112,686	$	111,651	
						
EXCESS REVENUES (EXPENDITURES)	$	48,616	$	128,559	$	(77,658)	$	50,902	$	56,501	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/26

 $	32,808 

AMORTIZATION SCHEDULE
Debt Service Series 2021 Special Assessment Bonds

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

11/01/25	$	1,870,000			$	33,326	$	33,326	
05/01/26	1,870,000	2.300%	45,000	33,326		
11/01/26	1,825,000			32,808	111,133.75	
05/01/27	1,825,000	2.875%	50,000	32,808		
11/01/27	1,775,000			32,089	114,897.50	
05/01/28	1,775,000	2.875%	50,000	32,089		
11/01/28	1,725,000			31,371	113,460.00	
05/01/29	1,725,000	2.875%	50,000	31,371		
11/01/29	1,675,000			30,652	112,022.50	
05/01/30	1,675,000	2.875%	50,000	30,652		
11/01/30	1,625,000			29,933	110,585.00	
05/01/31	1,625,000	2.875%	55,000	29,933		
11/01/31	1,570,000			29,143	114,075.63	
05/01/32	1,570,000	3.300%	55,000	29,143		
11/01/32	1,515,000			28,235	112,377.50	
05/01/33	1,515,000	3.300%	55,000	28,235		
11/01/33	1,460,000			27,328	110,562.50	
05/01/34	1,460,000	3.300%	60,000	27,328		
11/01/34	1,400,000			26,338	113,665.00	
05/01/35	1,400,000	3.300%	60,000	26,338		
11/01/35	1,340,000			25,348	111,685.00	
05/01/36	1,340,000	3.300%	65,000	25,348		
11/01/36	1,275,000			24,275	114,622.50	
05/01/37	1,275,000	3.300%	65,000	24,275		
11/01/37	1,210,000			23,203	112,477.50	
05/01/38	1,210,000	3.300%	70,000	23,203		
11/01/38	1,140,000			22,048	115,250.00	
05/01/39	1,140,000	3.300%	70,000	22,048		
11/01/39	1,070,000			20,893	112,940.00	
05/01/40	1,070,000	3.300%	70,000	20,893		
11/01/40	1,000,000			19,738	110,630.00	
05/01/41	1,000,000	3.300%	75,000	19,738		
11/01/41	925,000			18,500	113,237.50	
05/01/42	925,000	4.000%	75,000	18,500		
11/01/42	850,000			17,000	110,500.00	
05/01/43	850,000	4.000%	80,000	17,000		
11/01/43	770,000			15,400	112,400.00	
05/01/44	770,000	4.000%	85,000	15,400		
11/01/44	685,000			13,700	114,100.00	
05/01/45	685,000	4.000%	85,000	13,700		
11/01/45	600,000			12,000	110,700.00	
05/01/46	600,000	4.000%	90,000	12,000		
11/01/46	510,000			10,200	112,200.00	
05/01/47	510,000	4.000%	95,000	10,200		
11/01/47	415,000			8,300	113,500.00	
05/01/48	415,000	4.000%	100,000	8,300		
11/01/48	315,000			6,300	114,600.00	
05/01/49	315,000	4.000%	100,000	6,300		
11/01/49	215,000			4,300	110,600.00	
05/01/50	215,000	4.000%	105,000	4,300		
11/01/50	110,000			2,200	111,500.00	
05/01/51	110,000	4.000%	110,000	2,200	112,200.00	
Total	$	1,870,000	$	1,089,248	$	2,959,248	

Non-Ad Valorem Assessments Comparison 2025-2026

Neighborhood  O&M
Units	
Annual Maintenance Assessments	
	
FY 2026	
FY 2025	
Increase/ (decrease)	
Active Adult	519
Residential	1479	
$391.89
$841.74	
$368.62
$745.01	
$23.28
$96.74	
6.31%
12.98%	
Total	1998					

Approved Budget Capital Reserve Fund

Description

Adopted Budget FY 2025

Actuals Thru	Projected Next  Projected Thru

4/30/25

	5 Months	

9/30/25

Approved Budget FY 2026

REVENUES:

Interest Income	$	-  $	-  $	-  $	-  $	500	
Capital Reserve Funding	-	-	-	20,000	
Carry Forward Balance	-	-	-	-	-	
TOTAL REVENUES	$	-  $	-  $	-  $	-  $	20,500	

EXPENDITURES:		
Repairs and Replacements	$	-  $	-  $	-  $	-  $	16,000	
TOTAL EXPENDITURES	$	-  $	-  $	-  $	-  $	16,000	

Other Sources/(Uses)		
Transfer in/(Out)	$	-  $	-  $	-  $	-  $	-	
TOTAL OTHER SOURCES/(USES)	$	-  $	-  $	-  $	-  $	-	
		
TOTAL EXPENDITURES	$	-  $	-  $	-  $	-  $	16,000	
		
EXCESS REVENUES (EXPENDITURES)	$	-  $	-  $	-  $	-  $	4,500	
	
Capital Reserve Study	

Description	FY 2026
Reserve Study	
Reserves Beginning of Year	$	-	
Contributions	119,428	
Interest Income	3,103	
Expenditures	(16,000)	
Anticipated Balance	$	106,530	

Description	FY 2026
Budget	
Reserves Beginning of Year	$	-	
Contributions	20,000	
Interest Income	500	
Expenditures	(16,000)	
Anticipated Balance	$	4,500	

Variance Reserve Study Vs Actual	($102,030)