Cypress Bluff

Community Development District

Adopted Budget
FY 2027

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	

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY 2026	6/30/26		3 Months		9/30/26	FY 2027	

REVENUES:						
Special Assessments-Tax Roll	$	1,339,699	$	1,345,790	$	-	$  1,345,790	$  1,407,588	
Interest Income	10,200	24,507	2,500	27,007	25,000	
Insurance Proceeds	-	8,250	-	8,250	-	
Other Revenues (Event Fees)	20,000	9,262	2,500	11,762	10,000	
TOTAL REVENUES	$ 1,369,899	$ 1,387,810	$	5,000	$ 1,392,810	$ 1,442,588	

EXPENDITURES:						
Administrative						
Supervisor Fees	$	12,000	$	5,800	$	3,000	$	8,800	$	12,000	
FICA Expense	918	444	230	673	918	
Engineering	9,500	590	8,910	9,500	9,500	
Arbitrage Rebate	2,400	600	1,800	2,400	2,400	
Dissemination Agent	7,969	6,577	1,392	7,969	8,800	
Attorney	13,000	9,026	3,974	13,000	13,000	
Annual Audit	6,700	6,800	-	6,800	6,900	
Assessment Roll Administration	11,798	11,798	-	11,798	12,506	
Trustee Fees	23,000	18,506	4,494	23,000	23,000	
Management Fees	57,974	43,481	14,494	57,974	61,453	
Information Technology	2,949	2,212	738	2,949	3,126	
Website Maintenance	1,475	1,106	368	1,475	1,563	
Telephone	500	150	350	500	500	
Postage & Delivery	1,500	3,373	1,200	4,573	1,500	
Printing & Binding	2,500	3,530	150	3,680	2,500	
Insurance General Liability	7,460	7,029	-	7,029	7,732	
Legal Advertising	2,500	1,495	1,006	2,500	2,500	
Other Current Charges	500	305	500	805	500	
Office Supplies	600	6	594	600	300	
Dues, Licenses & Subscriptions	175	175	-	175	175	
TOTAL ADMINISTRATIVE	$	165,418	$	123,001	$	43,200	$  166,200	$  170,873	

Operations & Maintenance						
Grounds						

Lake Maintenance	
$	1,500	
$	900	
$	300	
$	1,200	
$	1,200	
Landscape Maintenance	417,103	307,375	109,728	417,103	429,617	
Landscape Contingency	13,000	18,381	15,000	33,381	30,000	
Pump Maintenance	3,550	6,872	3,550	10,422	3,550	
Water & Sewer	32,500	-	-	-	-	
Electric	-	15,408	6,900	22,308	26,000	
Reclaim Water	-	14,497	8,400	22,897	27,600	
Irrigation Repairs	10,000	17,036	2,500	19,536	5,000	
Pest Control	2,400	1,720	840	2,560	3,360	
Environmental Permit/Monitoring	20,000	-	20,000	20,000	20,000	
Other Repairs and Maintenance	5,000	-	2,500	2,500	5,000	
TOTAL GROUNDS	$	505,053	$	382,190	$	169,718	$  551,908	$  551,327	

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY 2026	6/30/26		3 Months		9/30/26	FY 2027	

Amenity						

Insurance	
$	61,650	
$	56,442	
$	-	
$	56,442	
$	53,623	
Amenity Manager (Vesta)	134,031	100,523	33,508	134,031	129,480	
Pool Maintenance (Vesta)	10,172	7,629	2,543	10,172	10,477	
Pool Chemicals (Vesta)	17,148	12,861	4,287	17,148	17,662	
Facility Attendant (Vesta)	98,500	73,875	24,625	98,500	93,500	
Janitorial Services (Vesta)	13,339	10,004	3,334	13,339	13,739	
Refuse	3,000	1,816	1,184	3,000	3,000	
Security Monitoring	10,000	540	360	900	720	
Security Camera	-	-	10,313	10,313	10,313	
Security Patrol	20,000	-	10,000	10,000	20,000	
Facility Maintenance (Vesta)	21,387	16,040	5,347	21,387	22,242	
Elevator Maintenance	5,000	4,016	-	4,016	4,000	
Electric	25,500	5,059	4,500	9,559	8,400	
Water & Sewer	-	2,983	2,500	5,483	4,440	
Irrigation Water	-	26,619	30,000	56,619	54,000	
Cable and Internet	10,200	7,157	3,043	10,200	10,800	
Licenses and Permits	1,000	-	1,000	1,000	1,000	
Subscriptions	-	4,765	1,500	6,265	6,400	
Repairs & Maintenance	71,000	35,783	35,217	71,000	71,000	
Special Events	35,000	22,852	12,148	35,000	35,000	
Holiday Decorations	1,500	704	796	1,500	1,500	
Fitness Center R&M	20,000	7,556	12,444	20,000	20,000	
Fitness Equipment Rentals	9,000	3,899	3,101	7,000	7,092	
Reserve for Amenities	100,000	25,155	10,000	35,155	90,000	
Mobile Application	9,000	6,750	2,250	9,000	9,000	
Other Current Charges	3,000	1,560	1,440	3,000	3,000	
TOTAL AMENITY	$	679,427	$	434,588	$	215,442	$	650,030	$	700,388	

Capital Reserve

Capital Reserve Funding

$	20,000  $

20,000  $

-  $	20,000  $

20,000

TOTAL CAPITAL RESERVE

$	20,000  $	20,000  $

-  $	20,000  $	20,000

TOTAL EXPENDITURES

$ 1,369,899  $	959,778  $	428,360  $ 1,388,138  $ 1,442,588

EXCESS REVENUES (EXPENDITURES)

$

-  $	428,031  $  (423,360)  $	4,672  $

-

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 the Board of Supervisors' compensation. The budgeted amount for the fiscal year is calculated at 7.65% of the total Board of Supervisors' 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.

Vendor
GMS
Disclosure Services

Attorney

Description
Dissemination Agent
Revised Amortization Schedules

Total

Monthly	Annual
$	700 $	8,400
	400 
$	8,800

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.
Dues, Licenses & Subscriptions
The District is required to pay an annual fee to the Florida Department of Commerce for $175.

Expenditures – Operations & Maintenance Grounds

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 for the estimated costs related to maintaining the common areas of the District.
Vendor	Description	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.
Electric

$	35,801  $

429,617

Represents the cost of electric service for the District's irrigation pumps, provided by JEA.

Meter #	Location	Monthly	Annual	
22970659	10923 E-Town PY Apt IR01	$	40	$	480	
23679519	11145 E-Town PY Apt IR01	200	2,400	
24059037	11399 Square St Apt IR02	40	480	
22972246	10505 E-Town PY Apt IR01	40	480	
23408499	11399 Square St Apt IR03	1,800	21,600	
Contingency		-	560 

Total $

2,120  $

26,000

Reclaim Water
Reclaim water needed for irrigation and maintenance of the common grounds provided by JEA.

Meter #

Location

Monthly	Annual

P4056216000	11399 Square ST Apt IR01

$	2,300  $

27,600

Expenditures – Operations & Maintenance Grounds (continued)

Irrigation Repairs
Estimated miscellaneous irrigation maintenance and repair costs.
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
Environmental Permit/Monitoring

$	280  $

3,360

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 – Grounds Maintenance 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, provide facility tours, issue access cards, and enforce policy.
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	Description	Monthly	Annual

Waste Pro	Refuse
Security Monitoring
Costs of the quarterly monitoring of the fire alarm system via Starlink cellular.
Security Camera

$	250  $

3,000

Estimated costs for monitoring, maintenance, and repair of the security cameras installed on District property. The District has contracted with Everon for security camera services.

Vendor	Description	Monthly	Annual	
Everon
Security Patrol	Security Camera	$	859 $	10,313	
Estimated 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 electric service to the District, including the Amenity Center and associated recreation facilities.

Meter #

Location

Monthly	Annual

21277318	10571 E-Town PY

$	700  $

8,400

Budget Narrative Fiscal Year 2027

Expenditures – Grounds Maintenance Amenity (continued)

Water & Sewer
JEA provides water and sewer service to the District, including the Amenity Center and associated recreation facilities.

Meter #

Location

Monthly	Annual

Fire Sprinkler 1	10571 E-Town PY

$	60  $

720

88781372	10571 E-Town PY	80	960
88781372	10571 E-Town PY		230	2,760 

Irrigation Water

Total $

370  $

4,440

JEA provides irrigation service to the District, including the Amenity Center and associated recreation facilities.

Meter #

Location

Monthly	Annual

Cable and Internet

88634656	10571 E-Town PY

$	4,500  $

54,000

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

Account #

Location

Monthly	Annual

Licenses and Permits

XX 5280

10571 E-Town Pkwy (Fitness)

$	900  $

10,800

Represents license fees for the amenity center and permit fees paid to the Florida Department of Health in Duval County for the swimming pools.
Subscriptions
Represents costs for software used to send automated text or voice messages to community residents, such as maintenance alerts, community announcements, or reminders
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.
Fitness Equipment Rentals
The District has contracted with Macrolease to rent fitness equipment.

Vendor

Description

Monthly	Annual

Macrolease
Reserve for Amenities

Fitness Equipment Rental

$	591  $

7,092

The District funds a capital reserve dedicated to the renewal and replacement of amenity-related capital facilities. These funds are transferred to the Capital Reserve Fund for future use.
Mobile Application
Mobile Application Peoplevine to provide 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	

Capital Reserve Funding
The District funds a capital reserve dedicated to future renewal, replacement, and unanticipated capital needs. These funds are transferred to the Capital Reserve Fund to support long-term financial stability and the ongoing upkeep of District infrastructure and facilities.

Adopted Budget
Debt Service Series 2019 Special Assessment Bonds

Adopted
Budget	Actuals Thru	Projected Next  Projected Thru  Adopted Budget
FY 2026

Description

6/30/26

	3 Months	

9/30/26

FY 2027

REVENUES:

Special Assessments - Tax Roll	$	723,981	$	726,850	$	-	$	726,850	$	726,850	
Special Assessments - Prepayments	-	4,663	-	4,663	-	
Interest Earnings	5,000	21,425	1,500	22,925	10,000	
Carry Forward Surplus (1)	345,006	365,803	-	365,803	387,742	
TOTAL REVENUES	$ 1,073,988	$ 1,118,741	$	1,500	$  1,120,241	$  1,124,592	

EXPENDITURES:						
Interest - 11/1	$	241,313	$	241,313	$	-	$	241,313	$	236,113	
Principal Prepayment - 11/1	-	5,000	-	5,000	-	
Interest - 5/1	241,313	241,186	-	241,186	236,113	
Principal - 5/1	240,000	240,000	-	240,000	250,000	
Principal Prepayment - 5/1	-	5,000	-	5,000	-	
TOTAL EXPENDITURES	$	722,626	$	732,499	$	-	$	732,499	$	722,226	

Other Sources/(Uses)						

Interfund transfer In/(Out)	
$	-	
$	-	
$	-	
$	-	
$	-	
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	
						
TOTAL EXPENDITURES	$	722,626	$	732,499	$	-	$	732,499	$	722,226	
						
EXCESS REVENUES (EXPENDITURES)	$	351,361	$	386,242	$	1,500	$	387,742	$	402,366	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/27

 $	230,957 

AMORTIZATION SCHEDULE
Debt Service Series 2019 Special Assessment Bonds

Period	Outstanding Balance	Coupons	Principal		Interest	Annual Debt Service	
							
11/01/26	9,550,000				236,113	722,226	
05/01/27	9,550,000	4.125%	250,000		236,113		
11/01/27	9,300,000				230,957	721,914	
05/01/28	9,300,000	4.125%	260,000		230,957		
11/01/28	9,040,000				225,594	726,189	
05/01/29	9,040,000	4.125%	275,000		225,594		
11/01/29	8,765,000				219,923	724,845	
05/01/30	8,765,000	4.900%	285,000		219,923		
11/01/30	8,480,000				212,940	725,880	
05/01/31	8,480,000	4.900%	300,000		212,940		
11/01/31	8,180,000				205,590	726,180	
05/01/32	8,180,000	4.900%	315,000		205,590		
11/01/32	7,865,000				197,873	725,745	
05/01/33	7,865,000	4.900%	330,000		197,873		
11/01/33	7,535,000				189,788	724,575	
05/01/34	7,535,000	4.900%	345,000		189,788		
11/01/34	7,190,000				181,335	727,670	
05/01/35	7,190,000	4.900%	365,000		181,335		
11/01/35	6,825,000				172,393	724,785	
05/01/36	6,825,000	4.900%	380,000		172,393		
11/01/36	6,445,000				163,083	726,165	
05/01/37	6,445,000	4.900%	400,000		163,083		
11/01/37	6,045,000				153,283	726,565	
05/01/38	6,045,000	4.900%	420,000		153,283		
11/01/38	5,625,000				142,993	730,985	
05/01/39	5,625,000	4.900%	445,000		142,993		
11/01/39	5,180,000				132,090	729,180	
05/01/40	5,180,000	5.100%	465,000		132,090		
11/01/40	4,715,000				120,233	730,465	
05/01/41	4,715,000	5.100%	490,000		120,233		
11/01/41	4,225,000				107,738	730,475	
05/01/42	4,225,000	5.100%	515,000		107,738		
11/01/42	3,710,000				94,605	734,210	
05/01/43	3,710,000	5.100%	545,000		94,605		
11/01/43	3,165,000				80,708	731,415	
05/01/44	3,165,000	5.100%	570,000		80,708		
11/01/44	2,595,000				66,173	732,345	
05/01/45	2,595,000	5.100%	600,000		66,173		
11/01/45	1,995,000				50,873	731,745	
05/01/46	1,995,000	5.100%	630,000		50,873		
11/01/46	1,365,000				34,808	734,615	
05/01/47	1,365,000	5.100%	665,000		34,808		
11/01/47	700,000				17,850	735,700	
05/01/48	700,000	5.100%	700,000		17,850		
Total		$	9,550,000	$	6,473,874	$  16,023,874	

Adopted Budget
Debt Service Series 2020 Special Assessment Bonds

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
	Description	FY 2026	6/30/26		3 Months		9/30/26	FY 2027	

REVENUES:							

Special Assessments	
$	495,593	
$	495,405	
$	-	
$	495,405	
$	495,405	
Interest Earnings	10,000	15,374	1,500	16,874	10,000	
Carry Forward Surplus (1)	398,976	402,303	-	402,303	415,115	
TOTAL REVENUES	$	904,569	$	913,082	$	1,500	$	914,582	$	920,520	

EXPENDITURES:					
Interest - 11/1	$	171,259	$	171,259	$	-  $	171,259	$	168,084	
Principal - 11/1	150,000	150,000	-	150,000	155,000	
Principal Prepayment - 11/1	-	5,000	-	5,000	-	
Interest - 5/1	168,334	168,209	-	168,209	164,713	
Principal Prepayment - 5/1	-	5,000	-	5,000	-	
TOTAL EXPENDITURES	$	489,593	$	499,468	$	-  $	499,468	$	487,796	

Other Sources/(Uses)	

Interfund transfer In/(Out)	
$	-	
$	-	
$	-	
$	-	
$	-	
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	
						
TOTAL EXPENDITURES	$	489,593	$	499,468	$	-	$	499,468	$	487,796	
						
EXCESS REVENUES (EXPENDITURES)	$	414,976	$	413,615	$	1,500	$	415,115	$	432,724	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/27 Principal Due 11/1/27

$	164,713
160,000

 $	324,713 

AMORTIZATION SCHEDULE
Debt Service Series 2020 Special Assessment Bonds

	Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	
							
	11/01/26	6,695,000	4.350%	155,000	168,084	487,796.25	
	05/01/27	6,540,000			164,713		
	11/01/27	6,540,000	4.350%	160,000	164,713	485,945.00	
	05/01/28	6,380,000			161,233		
	11/01/28	6,380,000	4.350%	170,000	161,233	488,767.50	
	05/01/29	6,210,000			157,535		
	11/01/29	6,210,000	4.350%	175,000	157,535	486,263.75	
	05/01/30	6,035,000			153,729		
	11/01/30	6,035,000	4.350%	185,000	153,729	488,433.75	
	05/01/31	5,850,000			149,705		
	11/01/31	5,850,000	5.000%	190,000	149,705	484,660.00	
	05/01/32	5,660,000			144,955		
	11/01/32	5,660,000	5.000%	200,000	144,955	484,910.00	
	05/01/33	5,460,000			139,955		
	11/01/33	5,460,000	5.000%	210,000	139,955	484,660.00	
	05/01/34	5,250,000			134,705		
	11/01/34	5,250,000	5.000%	220,000	134,705	483,910.00	
	05/01/35	5,030,000			129,205		
	11/01/35	5,030,000	5.000%	230,000	129,205	482,660.00	
	05/01/36	4,800,000			123,455		
	11/01/36	4,800,000	5.000%	245,000	123,455	485,785.00	
	05/01/37	4,555,000			117,330		
	11/01/37	4,555,000	5.000%	255,000	117,330	483,285.00	
	05/01/38	4,300,000			110,955		
	11/01/38	4,300,000	5.000%	270,000	110,955	485,160.00	
	05/01/39	4,030,000			104,205		
	11/01/39	4,030,000	5.000%	280,000	104,205	481,410.00	
	05/01/40	3,750,000			97,205		
	11/01/40	3,750,000	5.000%	295,000	97,205	482,035.00	
	05/01/41	3,455,000			89,830		
	11/01/41	3,455,000	5.200%	310,000	89,830	481,600.00	
	05/01/42	3,145,000			81,770		
	11/01/42	3,145,000	5.200%	325,000	81,770	480,090.00	
	05/01/43	2,820,000			73,320		
	11/01/43	2,820,000	5.200%	345,000	73,320	482,670.00	
	05/01/44	2,475,000			64,350		
	11/01/44	2,475,000	5.200%	360,000	64,350	479,340.00	
	05/01/45	2,115,000			54,990		
	11/01/45	2,115,000	5.200%	380,000	54,990	480,100.00	
	05/01/46	1,735,000			45,110		
	11/01/46	1,735,000	5.200%	400,000	45,110	479,820.00	
	05/01/47	1,335,000			34,710		
	11/01/47	1,335,000	5.200%	420,000	34,710	478,500.00	
	05/01/48	915,000			23,790		
	11/01/48	915,000	5.200%	445,000	23,790	481,010.00	
	05/01/49	470,000			12,220		
	11/01/49	470,000	5.200%	470,000	12,220	482,220.00	
Total			$	6,695,000  $	4,906,031	$  11,601,031	

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

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
	Description	FY 2026	6/30/26		3 Months		9/30/26	FY 2027	

REVENUES:							

Special Assessments	
$	421,869	
$	422,868	
$	-	
$	422,868	
$	422,868	
Special Assessments - Prepayments	-	10,024	-	10,024	-	
Interest Earnings	5,000	12,406	1,500	13,906	10,000	
Carry Forward Surplus (1)	178,676	200,692	-	200,692	209,068	
TOTAL REVENUES	$	605,545	$	645,990	$	1,500	$	647,490	$	641,936	

EXPENDITURES:					
Interest - 11/1	$	124,259	$	124,259	$	-  $	124,259	$	121,244	
Principal Prepayment - 11/1	-	5,000	-	5,000	-	
Interest - 5/1	124,259	124,164	-	124,164	121,244	
Principal - 5/1	175,000	175,000	-	175,000	180,000	
Principal Prepayment - 5/1	-	10,000	-	10,000	-	
TOTAL EXPENDITURES	$	423,518	$	438,423	$	-  $	438,423	$	422,488	

Other Sources/(Uses)	

Interfund transfer In/(Out)	
$	-	
$	-	
$	-	
$	-	
$	-	
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	
						
TOTAL EXPENDITURES	$	423,518	$	438,423	$	-	$	438,423	$	422,488	
						
EXCESS REVENUES (EXPENDITURES)	$	182,027	$	207,568	$	1,500	$	209,068	$	219,448	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/27

 $	118,431 

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

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	
						
11/01/26	6,625,000			121,244	422,487.50	
05/01/27	6,625,000	3.125%	180,000	121,244		
11/01/27	6,445,000			118,431	421,862.50	
05/01/28	6,445,000	3.125%	185,000	118,431		
11/01/28	6,260,000			115,541	421,081.25	
05/01/29	6,260,000	3.125%	190,000	115,541		
11/01/29	6,070,000			112,572	420,143.75	
05/01/30	6,070,000	3.125%	195,000	112,572		
11/01/30	5,875,000			109,525	424,050.00	
05/01/31	5,875,000	3.625%	205,000	109,525		
11/01/31	5,670,000			105,809	421,618.75	
05/01/32	5,670,000	3.625%	210,000	105,809		
11/01/32	5,460,000			102,003	424,006.25	
05/01/33	5,460,000	3.625%	220,000	102,003		
11/01/33	5,240,000			98,016	421,031.25	
05/01/34	5,240,000	3.625%	225,000	98,016		
11/01/34	5,015,000			93,938	422,875.00	
05/01/35	5,015,000	3.625%	235,000	93,938		
11/01/35	4,780,000			89,678	424,356.25	
05/01/36	4,780,000	3.625%	245,000	89,678		
11/01/36	4,535,000			85,238	420,475.00	
05/01/37	4,535,000	3.625%	250,000	85,238		
11/01/37	4,285,000			80,706	421,412.50	
05/01/38	4,285,000	3.625%	260,000	80,706		
11/01/38	4,025,000			75,994	421,987.50	
05/01/39	4,025,000	3.625%	270,000	75,994		
11/01/39	3,755,000			71,100	422,200.00	
05/01/40	3,755,000	3.625%	280,000	71,100		
11/01/40	3,475,000			66,025	422,050.00	
05/01/41	3,475,000	3.800%	290,000	66,025		
11/01/41	3,185,000			60,515	426,030.00	
05/01/42	3,185,000	3.800%	305,000	60,515		
11/01/42	2,880,000			54,720	424,440.00	
05/01/43	2,880,000	3.800%	315,000	54,720		
11/01/43	2,565,000			48,735	422,470.00	
05/01/44	2,565,000	3.800%	325,000	48,735		
11/01/44	2,240,000			42,560	425,120.00	
05/01/45	2,240,000	3.800%	340,000	42,560		
11/01/45	1,900,000			36,100	422,200.00	
05/01/46	1,900,000	3.800%	350,000	36,100		
11/01/46	1,550,000			29,450	423,900.00	
05/01/47	1,550,000	3.800%	365,000	29,450		
11/01/47	1,185,000			22,515	425,030.00	
05/01/48	1,185,000	3.800%	380,000	22,515		
11/01/48	805,000			15,295	425,590.00	
05/01/49	805,000	3.800%	395,000	15,295		
11/01/49	410,000			7,790	425,580.00	
05/01/50	410,000	3.800%	410,000	7,790		
Total		$	6,625,000  $	3,526,998	$  10,151,998	

Adopted Budget
Debt Service Series 2021 Special Assessment Bonds

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
	Description	FY 2026	6/30/26		3 Months		9/30/26	FY 2027	

REVENUES:							

Special Assessments	
$	115,340	
$	116,483	
$	-	
$	116,483	
$	116,483	
Interest Earnings	2,000	3,365	500	3,865	2,000	
Carry Forward Surplus (1)	51,742	52,111	-	52,111	60,807	
TOTAL REVENUES	$	169,083	$	171,959	$	500	$	172,459	$	179,290	

EXPENDITURES:						
Interest - 11/1	$	33,326	$	33,326	$	-	$	33,326	$	32,808	
Interest - 5/1	33,326	33,326	-	33,326	32,808	
Principal - 5/1	45,000	45,000	-	45,000	50,000	
TOTAL EXPENDITURES	$	111,651	$	111,651	$	-	$	111,651	$	115,616	

Other Sources/(Uses)	

Interfund transfer In/(Out)	
$	-	
$	-	
$	-	
$	-	
$	-	
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	
						
TOTAL EXPENDITURES	$	111,651	$	111,651	$	-	$	111,651	$	115,616	
						
EXCESS REVENUES (EXPENDITURES)	$	57,432	$	60,307	$	500	$	60,807	$	63,674	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/27

 $	32,089 

AMORTIZATION SCHEDULE
Debt Service Series 2021 Special Assessment Bonds

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	
						
11/01/26	1,825,000			32,808	115,616.25	
05/01/27	1,825,000	2.875%	50,000	32,808		
11/01/27	1,775,000			32,089	114,178.75	
05/01/28	1,775,000	2.875%	50,000	32,089		
11/01/28	1,725,000			31,371	112,741.25	
05/01/29	1,725,000	2.875%	50,000	31,371		
11/01/29	1,675,000			30,652	111,303.75	
05/01/30	1,675,000	2.875%	50,000	30,652		
11/01/30	1,625,000			29,933	114,866.25	
05/01/31	1,625,000	2.875%	55,000	29,933		
11/01/31	1,570,000			29,143	113,285.00	
05/01/32	1,570,000	3.300%	55,000	29,143		
11/01/32	1,515,000			28,235	111,470.00	
05/01/33	1,515,000	3.300%	55,000	28,235		
11/01/33	1,460,000			27,328	114,655.00	
05/01/34	1,460,000	3.300%	60,000	27,328		
11/01/34	1,400,000			26,338	112,675.00	
05/01/35	1,400,000	3.300%	60,000	26,338		
11/01/35	1,340,000			25,348	115,695.00	
05/01/36	1,340,000	3.300%	65,000	25,348		
11/01/36	1,275,000			24,275	113,550.00	
05/01/37	1,275,000	3.300%	65,000	24,275		
11/01/37	1,210,000			23,203	116,405.00	
05/01/38	1,210,000	3.300%	70,000	23,203		
11/01/38	1,140,000			22,048	114,095.00	
05/01/39	1,140,000	3.300%	70,000	22,048		
11/01/39	1,070,000			20,893	111,785.00	
05/01/40	1,070,000	3.300%	70,000	20,893		
11/01/40	1,000,000			19,738	114,475.00	
05/01/41	1,000,000	3.300%	75,000	19,738		
11/01/41	925,000			18,500	112,000.00	
05/01/42	925,000	4.000%	75,000	18,500		
11/01/42	850,000			17,000	114,000.00	
05/01/43	850,000	4.000%	80,000	17,000		
11/01/43	770,000			15,400	115,800.00	
05/01/44	770,000	4.000%	85,000	15,400		
11/01/44	685,000			13,700	112,400.00	
05/01/45	685,000	4.000%	85,000	13,700		
11/01/45	600,000			12,000	114,000.00	
05/01/46	600,000	4.000%	90,000	12,000		
11/01/46	510,000			10,200	115,400.00	
05/01/47	510,000	4.000%	95,000	10,200		
11/01/47	415,000			8,300	116,600.00	
05/01/48	415,000	4.000%	100,000	8,300		
11/01/48	315,000			6,300	112,600.00	
05/01/49	315,000	4.000%	100,000	6,300		
11/01/49	215,000			4,300	113,600.00	
05/01/50	215,000	4.000%	105,000	4,300		
11/01/50	110,000			2,200	114,400.00	
05/01/51	110,000	4.000%	110,000	2,200		
Total		$	1,825,000  $	1,022,596	$	2,847,596	

Non-Ad Valorem Assessments Comparison 2026-2027

Neighborhood  O&M
Units	
Annual Maintenance Assessments	
	
FY 2027	
FY 2026	
Increase/ (decrease)	
Active Adult	519
Residential	1479	
$411.87
$884.35	
$391.89
$841.74	
$19.98
$42.61	
5%
5%	
Total	1998					

Adopted Budget Capital Reserve Fund

Adopted	Actuals Thru	Projected Next Projected Thru Adopted Budget Budget	
Description	FY 2026	6/30/26		3 Months		9/30/26	FY 2027	

REVENUES:						
Interest Income	$	500	$	-	$	80	$	80	$	500	
Reserve for Amenities	-	-	-	-	90,000	
Capital Reserve Funding	20,000	20,000	-	20,000	20,000	
Carry Forward Balance	-	-	-	-	11,634	
TOTAL REVENUES	$	20,500	$	20,000	$	80	$	20,080	$	122,134	

EXPENDITURES:						
Capital Outlay	$	16,000	$	-	$	5,000	$	5,000	$	15,000	
Repairs and Replacements	-	-	3,000	3,000	5,000	
Other Current Charges	-	296	150	446	960	
TOTAL EXPENDITURES	$	16,000	$	296	$	8,150	$	8,446	$	20,960	

Other Sources/(Uses)						

Transfer in/(Out)	
$	-	
$	-	
$	-	
$	-	
$	-	
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	
						
TOTAL EXPENDITURES	$	16,000	$	296	$	8,150	$	8,446	$	20,960	
						
EXCESS REVENUES (EXPENDITURES)	$	4,500	$	19,704	$	(8,070)	$	11,634	$	101,174	

Capital Reserve Study

Description	FY 2027
Reserve Study *	
Reserves Beginning of Year	$	106,530	
Contributions	120,622	
Interest Income	6,320	
Expenditures	(16,840)	
Anticipated Balance	$	216,632	

Description	FY 2027
Budget	
Reserves Beginning of Year	$	11,634	
Contributions	110,000	
Interest Income	500	
Expenditures	(20,960)	
Anticipated Balance	$	101,174	

Variance Reserve Study vs. Actual	($115,458)

*Refers to the Cypress Bluff CDD Reserve Study Report dated April 24, 2025, page 2-1.