Tohoqua
Community Development District

Adopted Budget
FY2023

Table of Contents

1-3	General Fund	

4-11	

General Fund Narrative	

12	

Capital Reserve Fund	

13	

Debt Service Fund Series 2018	

14-15	

Amortization Schedule Series 2018	

16	

Debt Service Fund Series 2021 Phase 2	

17-18	

Amortization Schedule Series 2021 Phase 2	

19	

Debt Service Fund Series 2021 Phase 4A/5A	

20-21	

Amortization Schedule Series 2021 Phase 4A/5A	

	Adopted Budget	Actual thru	Projected Next 3	Total thru	Adopted Budget	
Description	FY2022	6/30/22	Months	9/30/22	FY2023	

Revenues						
Developer Contributions	$	220,146	$	3,280	$	-	$	3,280	$	115,016	
Assessments - Tax Collector	$	387,600	$	389,056	$	-	$	389,056	$	660,211	
Assessments - Direct	$	579,241	$	579,241	$	-	$	579,241	$	545,915	
Assessments - Direct (Administrative)	$	88,884	$	88,884	$	-	$	88,884	$	81,731	
Special Events Revenue	$	12,000	$	8,765	$	3,000	$	11,765	$	12,000	
Total Revenues	$ 1,287,871	$ 1,069,226	$	3,000	$ 1,072,226	$ 1,414,873	

Expenditures						
Administrative						
Supervisor Fees	$	12,000	$	3,400	$	2,400	$	5,800	$	12,000	
FICA Expense	$	918	$	260	$	184	$	444	$	918	
Engineering	$	12,000	$	9,065	$	18,500	$	27,565	$	12,000	
Attorney	$	25,000	$	19,689	$	5,400	$	25,089	$	25,000	
Annual Audit	$	6,600	$	5,500	$	-	$	5,500	$	7,600	
Assessment Administration	$	7,500	$	7,500	$	-	$	7,500	$	10,000	
Arbitrage	$	1,350	$	900	$	450	$	1,350	$	2,250	
Dissemination	$	10,000	$	7,500	$	2,500	$	10,000	$	15,000	
Trustee Fees	$	11,152	$	3,717	$	7,435	$	11,152	$	18,587	
Management Fees	$	37,132	$	27,849	$	9,283	$	37,132	$	40,000	
Information Technology	$	1,800	$	1,350	$	450	$	1,800	$	1,800	
Website Maintenance	$	1,200	$	900	$	300	$	1,200	$	1,200	
Telephone	$	300	$	-	$	75	$	75	$	300	
Postage	$	1,000	$	114	$	250	$	364	$	1,000	
Insurance	$	6,000	$	5,570	$	-	$	5,570	$	6,684	
Printing & Binding	$	3,000	$	1,386	$	750	$	2,136	$	3,000	
Legal Advertising	$	3,800	$	189	$	3,611	$	3,800	$	3,800	
Other Current Charges	$	2,500	$	1,060	$	625	$	1,685	$	2,500	
Office Supplies	$	625	$	35	$	156	$	191	$	625	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total Administrative:	$	144,052	$	96,160	$	52,369	$	148,529	$	164,439	

Operations & Maintenance						
Contract Services
Field Management	
$	20,600	
$	15,450	
$	5,150	
$	20,600	
$	21,630	
Amenities Management	$	37,080	$	27,810	$	9,270	$	37,080	$	125,000	
Landscape Maintenance	$	469,372	$	181,414	$	64,290	$	245,704	$	483,172	
Lake Maintenance	$	52,440	$	6,280	$	2,040	$	8,320	$	35,000	
Wetland Maintenance	$	12,100	$	3,200	$	4,800	$	8,000	$	12,100	
Wetland Mitigation Reporting	$	9,600	$	6,600	$	3,000	$	9,600	$	9,600	
Pool Maintenance	$	20,820	$	15,615	$	5,205	$	20,820	$	20,820	
Pest Control	$	780	$	585	$	195	$	780	$	780	
Janitorial Services	$	45,000	$	16,320	$	8,880	$	25,200	$	30,000	
Contract Services Subtotal:	$	667,792	$	273,275	$	102,830	$	376,105	$	738,102	

	Adopted Budget	Actual thru	Projected Next 3	Total thru	Adopted Budget	
Description	FY2022	6/30/22	Months	9/30/22	FY2023	
Repairs & Maintenance						
Landscape Replacement	$	25,000	$	1,069	$	6,250	$	7,319	$	25,000	
Irrigation Repairs	$	3,000	$	1,250	$	750	$	2,000	$	3,000	
Stormwater Inspections	$	14,400	$	-	$	3,600	$	3,600	$	12,900	
General Repairs & Maintenance	$	10,000	$	3,487	$	2,500	$	5,987	$	10,000	
Alleyway & Sidewalk Maintenance	$	3,000	$	-	$	750	$	750	$	3,000	
Signage	$	1,500	$	-	$	375	$	375	$	1,500	
Walls - Repair/Cleaning	$	1,500	$	-	$	375	$	375	$	1,500	
Fencing	$	250	$	-	$	63	$	63	$	1,500	
Repairs & Maintenance Subtotal:	$	58,650	$	5,806	$	14,663	$	20,469	$	58,400	

Utilities						
Amenity Center - Electric	$	19,000	$	12,268	$	4,800	$	17,068	$	21,120	
Amenity Center - Water	$	6,500	$	5,934	$	2,100	$	8,034	$	9,240	
Electric	$	5,000	$	123	$	45	$	168	$	2,500	
Water & Sewer	$	54,500	$	10,340	$	3,600	$	13,940	$	70,000	
Streetlights	$	150,000	$	38,786	$	16,200	$	54,986	$	150,000	
Utilities Subtotal:	$	235,000	$	67,451	$	26,745	$	94,196	$	252,860	

Amenities						
Property Insurance	$	25,000	$	23,054	$	-	$	23,054	$	27,665	
Pool Attendants	$	12,500	$	-	$	12,500	$	12,500	$	12,500	
Facility Maintenance	$	-	$	-	$	-	$	-	$	53,000	
Security Patrol	$	30,000	$	-	$	-	$	-	$	-	
Pool Repairs & Maintenance	$	15,000	$	19,260	$	3,750	$	23,010	$	15,000	
Pool Permits	$	325	$	325	$	-	$	325	$	325	
Access Cards & Equipment Supplies	$	2,390	$	5,144	$	-	$	5,144	$	6,000	
Fire Alarm & Security Monitoring	$	1,000	$	280	$	175	$	455	$	420	
Fire Alarm & Security Monitoring Repairs	$	2,000	$	-	$	500	$	500	$	2,000	
Fire Extinguisher Inspections	$	100	$	85	$	-	$	85	$	100	
Amenity Signage	$	2,000	$	1,165	$	835	$	2,000	$	2,000	
Repairs & Maintenance	$	17,500	$	12,980	$	4,375	$	17,355	$	5,000	
Office Supplies	$	1,500	$	120	$	375	$	495	$	1,000	
Operating Supplies	$	5,000	$	4,357	$	1,250	$	5,607	$	5,000	
Special Events	$	15,000	$	14,507	$	3,750	$	18,257	$	18,000	
Termite Bond	$	300	$	-	$	300	$	300	$	300	
Holiday Décor	$	12,500	$	5,100	$	7,400	$	12,500	$	12,500	
Amenities Subtotal:	$	142,115	$	86,378	$	35,210	$	121,587	$	160,810	
Other						
Contingency	$	25,000	$	879	$	6,250	$	7,129	$	25,000	
Capital Reserve	$	15,262	$	-	$	15,262	$	15,262	$	15,262	
Other Subtotal:	$	40,262	$	879	$	21,512	$	22,391	$	40,262	
						
Total Operations & Maintenance:	$ 1,143,819	$	433,788	$	200,959	$	634,747	$ 1,250,434	
						
Total Expenditures	$ 1,287,871	$	529,948	$	253,328	$	783,276	$ 1,414,873	
						
Excess Revenues/(Expenditures)	$	-	$	539,278	$	(250,328)	$	288,950	$	0	

Community Development District
General Fund - Assessments

Product

Assessable Units

ERU

Net Assessment

Gross Assessment

Net Per Unit

Gross Per Unit

Phase 1 - Mattamy - Tax Roll
Townhome	101	0.6	$	47,280	$	50,298	$468.12	$498.00	
Single-Family 40'	69	0.8	$	47,348	$	50,370	$686.20	$730.00	
Single-Family 45'	97	0.9	$	74,950	$	79,734	$772.68	$822.00	
Single-Family 55'	61	1.1	$	57,569	$	61,244	$943.76	$1,004.00	
Single-Family 70'	1	1.4	$	1,201	$	1,278	$1,201.32	$1,278.00	

Total Phase 1 - Mattamy	329	$	228,349	$ 242,924

Phase 2 - Lennar - Tax Roll
Single-Family 32'	115	0.65	$	63,130	$	67,160	$548.96	$584.00	
Single-Family 50'	112	1	$	96,121	$  102,256	$858.22	$913.00	

Total Phase 2 - Lennar	227	$	159,251	$ 169,416

Phase 4A/5A - Pulte - Tax Roll
Multi-Family-Duplex	68	0.6	$	31,832	$	33,864	$468.12	$498.00	
Single-Family 32'	57	0.65	$	31,291	$	33,288	$548.96	$584.00	
Single-Family 40'	37	0.8	$	25,389	$	27,010	$686.20	$730.00	
Single-Family 50'	87	1	$	74,665	$	79,431	$858.22	$913.00	

Total Phase 4A/5A - Pulte	249	$	163,177	$ 173,593

Phase 4B - Pulte - Tax Roll
Single-Family 32'	67	0.65	$	36,780	$	39,128	$548.96	$584.00	
Single-Family 40'	38	0.8	$	26,076	$	27,740	$686.20	$730.00	
Single-Family 50'	21	1	$	18,023	$	19,173	$858.22	$913.00	

Total Phase 4B - Pulte	126	$	80,879	$	86,041

Phase 6 - Lennar - Tax Roll

Total Phase 6 - Lennar	61	$	28,555	$	30,378	
	
Total Tax Roll	992	$	660,211	$ 702,352	

Townhome	61	0.6

$	28,555

$	30,378

$468.12	$498.00

Townhome	156	0.6	$	73,027	$	77,688	$468.12	$498.00	
Single-Family 32'	169	0.65	$	92,774	$	98,696	$548.96	$584.00	
Single-Family 50'	164	1	$	140,748	$  149,732	$858.22	$913.00	

Phase 3 & 7 - Lennar - Direct

Total Phase 3 & 7	489	$	306,549	$ 326,116

Total Phase 5B - Pulte	133	$	86,056	$	91,549	
	
Total Direct	871	$	545,915	$ 580,761	

Phase 4C - Pulte - Direct
Townhome	90	0.6	$	42,131	$	44,820	$468.12	$498.00	
Single-Family 32'	25	0.65	$	13,724	$	14,600	$548.96	$584.00	
Single-Family 40'	102	0.8	$	69,992	$	74,460	$686.20	$730.00	
Single-Family 50'	32	1	$	27,463	$	29,216	$858.22	$913.00	

Phase 5B- Pulte - Direct							
Multi-Family-Duplex	72	0.6	$	33,705	$	35,856	$468.12	$498.00	
Single-Family 50'	61	1	$	52,351	$	55,693	$858.22	$913.00	

Revenues:

Assessments

The District will levy a non-ad valorem assessment on all the assessable property within the District in order to pay for the operating expenditures during the fiscal year.

Special Events Revenue

Represents fees collected by the onsite management company related to various special events operated by the District.

Expenditures:

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 Supervisor checks.

Engineering

The District's engineer, Poulos & Bennett, 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, Latham, Luna, Eden & Beaudine, LLP, provides general legal services to the District, e.g. attendance and preparation for monthly meetings, preparation for Board meetings, preparation and review of agreements, resolutions, and other research 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. The District is currently contracted with Grau & Associates.

Assessment Administration

The District is contracted with Governmental Management Services – Central Florida, LLC to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Arbitrage

The District has contracted with AMTEC, an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on the Series 2018, Series 2021 Phase 2 & Series 2021 Phase 4A/5A Special Assessment Revenue 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. Governmental Management Services – Central Florida, LLC completes these reporting requirements.

Trustee Fees

The District issued the Series 2018, Series 2021 Phase 2 & Series 2021 Phase 4A/5A Special Assessment Revenue Bonds that are deposited with a Trustee at USBank.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-Central Florida, LLC. The services include but are not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reports, annual audits, etc.

Information Technology

Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, security, accounting software, etc. Governmental Management Services – Central Florida, LLC provides these systems.

Website Maintenance

Represents the costs associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc. Governmental Management Services – Central Florida, LLC provides these services.

Telephone

Telephone and fax machine.

Postage

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

Insurance

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

Printing & Binding

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

Legal Advertising

The District is required to advertise various notices for monthly Board meetings, public hearings, etc. in a newspaper of general circulation.

Other Current Charges

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

Office Supplies

Miscellaneous office supplies.

Dues, Licenses & Subscriptions

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

Operations & Maintenance:

Contract Services:

Field Management

The District is contracted with Governmental Management Services-Central Florida, LLC for onsite field management of contracts for the District such as landscape and lake maintenance. Services include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Amenities Management

The District has contracted with Community Association and Lifestyle Management, LLC to provide amenity center management services, amenity operations services and programming services.

 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 is currently contracted with United Landscapes for these services.

Description	Monthly	Annually	
Cross Prairie Parkway	$3,668	$44,020	
2 Additional Ponds	$700	$8,400	
Phase 1 (excludes Cross Prairie Parkway)	$5,943	$71,320	
Amenity Center	$1,744	$20,925	
Amenity Center Pond	$1,167	$14,000	
East Cross Prairie Parkway	$3,885	$46,620	
Estimated West Cross Prairie Parkway	$1,505	$18,060	
Phase 2	$2,555	$30,660	
Estimated Phase 3	$2,631	$31,572	
Estimated Phase 4	$5,519	$66,228	
Estimated Phase 5	$1,060	$12,720	
Estimated Phase 6	$4,296	$51,555	
Estimated Phase 7	$5,591		$67,092 	
Total		$483,172	

Lake Maintenance

Represents the costs of aquatic management services for the District’s lakes. Services include monthly inspections and/or treatments needed to maintain control of noxious vegetation growth within the lakes. The District is currently contracted with Sunshine Land Management for these services.

Description	Monthly	Annually	
Phase 1, 2 & 3 Ponds	$480	$5,760	
Amenity Pond	$50	$600	
Estimated Phase 4 Ponds	$890	$10,680	
Estimated Phase 5 Ponds	$140	$1,680	
Estimated Phase 7 Ponds	$310	$3,720	
Dump Fees	$200	$2,400	
Water Analysis Testing	$100	$1,200	
Algae Control		$2,000	
Contingency			$6,960 	
Total		$35,000	

Wetland Maintenance

BioTech Consulting, Inc. provides maintenance services on the District’s wetlands. These services include quarterly maintenance consisting of herbicide treatments and water level monitoring.

Description	Quarterly	Annually	
Mitigation Maintenance	$1,600	$6,400	
Water Level Monitoring	$800	$3,200	
Estimated Project Coordination			$2,500 	
Total		$12,100	

Wetland Mitigation Monitoring

The District will incur costs related to mitigation reporting for its wetlands. BioTech Consulting, Inc. conducts a semi annual mitigation monitoring report as well as an annual mitigation report detailing all of the monitoring events conducted. These reports are submitted to respective agencies for permit conditions.

Description	Event	Annually	
Semi – Annual Mitigation Monitoring	$3,000	$6,000	
Annual Mitigation Report	$3,600		$3,600 	
Total		$9,600	

Pool Maintenance

Represents the costs of regular cleaning of the District’s pool. This service is provided by Roberts Pool Service and Repair, Inc.

Description	Monthly	Annually	
5 times per week
Total	$1,735		$20,820 
$20,820	

Pest Control

The District is contracted with Pro-Staff Termite & Pest Control, LLC for integrated pest management and rodent control.

Description	Monthly	Annually	
Pest Control
Total	$65		$780 
$780	

Janitorial Services

The District is contracted with Westwood Interior Cleaning, Inc. to provide janitorial services for the amenity center. Amounts are based on two cleaning services per week.

Description	Monthly	Annually	
Janitorial Services - $225 per service	$1,950	$23,400	
Janitorial Services – Holidays		$1,350	
Supplies			$5,250 	
Total		$30,000	

Repairs & Maintenance

Landscape Replacement

Represents estimated costs related to the replacement of any landscaping needed throughout the fiscal year.

Irrigation Repairs

The District will incur costs related to repairing and maintaining its irrigation systems. The amount is based on estimated costs.

Stormwater Inspections

Represents the estimated costs of inspecting the District’s stormwater systems.

General Repairs & Maintenance

Represents estimated costs for the general repairs and maintenance of various facilities throughout the District.

Alleyway & Sidewalk Maintenance

The District will incur costs related to maintaining the alleyways and sidewalks within its boundaries. The amount is estimated.

Signage

Represents estimated costs to replace miscellaneous signs throughout the fiscal year.

Walls – Repair/Cleaning

Represents estimated costs of repairing and cleaning walls maintained by the District.

Fencing

Represents estimated costs for maintaining fences during the fiscal year.

Utilities:

Amenity Center - Electric

Represents estimated electric charges for the District’s pool.

Amenity Center – Water

Represents estimated water charges for the District’s pool.

Electric

Represents estimated electric charges of common areas throughout the District.

Water & Sewer

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

Amenities:

Property Insurance

The District will incur fees to insure items owned by the District for its property needs. Coverage is provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage for government agencies.

Pool Attendants

Represents the estimated cost of having pool attendants during certain times throughout the operating season for the pool.

Facility Maintenance

The District has contracted with Governmental Management Services – Central Florida, LLC to provide routine repairs and maintenance on the District’s common areas and amenities.

Pool Repairs & Maintenance

Estimated miscellaneous pool maintenance costs not included under the District’s regular pool agreement.

Pool Permits

Represents annual costs of required pool permits paid to the Florida Department of Health.

Access Cards & Equipment Supplies

Represents the estimated cost for providing and maintaining an access card system.

Fire Alarm & Security Monitoring

Represents estimated costs of maintaining fire alarm and security systems for the amenity facilities within the District.

Fire Alarm & Security Monitoring Repairs

Represents estimated costs of maintaining and repairing the fire alarm and security systems.

Fire Extinguisher Inspections

Represents the annual cost of inspecting the fire extinguishers.

Amenity Signage

Represents estimated costs to obtain amenity signage necessary throughout the fiscal year.

Repairs & Maintenance

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

Office Supplies

Represents the cost of daily office supplies required by the District to facilitate operations.

Operating Supplies

Represents estimated costs of supplies purchased for operating and maintaining common areas.

Special Events

The onsite management company for the District will coordinate and provide various special events throughout the year. The amount represents estimated costs related to supplies, notices and other items to run these events.

Termite Bond

The District will incur annual fees for the termite bonds of its amenity facilities.

Holiday Décor

The District will incur costs related to the decoration of common areas during the Holidays.

Other:

Contingency

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

Capital Reserve
The District will fund an annual amount for future cost related to replacement and repair of capital assets of the District. Upon completion, the District may have a Capital Reserve study prepared to ensure annually funding levels are sufficient.

Adopted Budget	Capital Reserve Fund Fiscal Year 2023
Actual thru	

Projected Next 3	

Total thru	

Adopted Budget	
Description	FY2022	6/30/22	Months	9/30/22	FY2023	

Revenues					
Transfer In	$	15,262	$	-	$	15,262	$	15,262	$	15,262	
Carry Forward Surplus	$	15,262	$	-	$	-	$	-	$	15,262	
Total Revenues	$	30,524	$	-	$	15,262	$	15,262	$	30,524	

Expenditures					
Capital Outlay	$	-	$	-	$	-	$	-	$	-	
Total Expenditures	$	-	$	-	$	-	$	-	$	-	
					
Excess Revenues/(Expenditures)	$	30,524	$	-	$	15,262	$	15,262	$	30,524	

Debt Service Fund - Series 2018 Fiscal Year 2023

	Adopted Budget	Actual thru	Projected Next 3	Total thru	Adopted Budget	
Description	FY2022	6/30/22	Months	9/30/22	FY2023	

Revenues						
Special Assessments	$	137,458	$	137,971	$	-	$	137,971	$	137,458	
Interest	$	-	$	6	$	-	$	6	$	-	
Carry Forward Surplus	$	67,273	$	68,279	$	-	$	68,279	$	68,361	
Total Revenues	$	204,731	$	206,256	$	-	$	206,256	$	205,819	

Expenditures						
Interest Payment - 11/01	$	48,948	$	48,948	$	-	$	48,948	$	48,008	
Principal Payment - 05/01	$	40,000	$	40,000	$	-	$	40,000	$	40,000	
Interest Payment - 05/01	$	48,948	$	48,948	$	-	$	48,948	$	48,008	
Total Expenditures	$	137,895	$	137,895	$	-	$	137,895	$	136,015	
						
Excess Revenues/(Expenditures)	$	66,836	$	68,361	$	-	$	68,361	$	69,804	

1. Carry forward surplus is net of Reserves.

 Interest 11/1/23	$47,068	

Net Assessments	$137,458 Add: Discounts & Collection 		$8,774 
Gross Assessments 	$146,232 

Product Type	

No. of Units	
Annual Debt Service	Per Unit Net Debt
Assessment	Per Unit Gross Debt
Assessment	
Townhouse	101	$	28,482	$282.00	$300.00	
Single-Family 40'	69	$	28,509	$413.18	$439.55	
Single-Family 45'	97	$	45,089	$464.83	$494.50	
Single-Family 55'	61	$	34,655	$568.12	$604.38	
Single-Family 70'	1	$	723	$723.06	$769.21	
	329	$	137,458			

	Series	2018 Special Assessment Bonds Amortization Schedule		
Date		Balance	Principal	Interest	Total	
					
11/01/22	$	2,020,000.00	$	-	$	48,007.50	$	136,955.00	
05/01/23	$	2,020,000.00	$	40,000.00	$	48,007.50		
11/01/23	$	1,980,000.00	$	-	$	47,067.50	$	135,075.00	
05/01/24	$	1,980,000.00	$	45,000.00	$	47,067.50		
11/01/24	$	1,935,000.00	$	-	$	46,010.00	$	138,077.50	
05/01/25	$	1,935,000.00	$	45,000.00	$	46,010.00		
11/01/25	$	1,890,000.00	$	-	$	44,952.50	$	135,962.50	
05/01/26	$	1,890,000.00	$	45,000.00	$	44,952.50		
11/01/26	$	1,845,000.00	$	-	$	43,895.00	$	133,847.50	
05/01/27	$	1,845,000.00	$	50,000.00	$	43,895.00		
11/01/27	$	1,795,000.00	$	-	$	42,720.00	$	136,615.00	
05/01/28	$	1,795,000.00	$	50,000.00	$	42,720.00		
11/01/28	$	1,745,000.00	$	-	$	41,545.00	$	134,265.00	
05/01/29	$	1,745,000.00	$	55,000.00	$	41,545.00		
11/01/29	$	1,690,000.00	$	-	$	40,252.50	$	136,797.50	
05/01/30	$	1,690,000.00	$	55,000.00	$	40,252.50		
11/01/30	$	1,635,000.00	$	-	$	38,960.00	$	134,212.50	
05/01/31	$	1,635,000.00	$	60,000.00	$	38,960.00		
11/01/31	$	1,575,000.00	$	-	$	37,550.00	$	136,510.00	
05/01/32	$	1,575,000.00	$	60,000.00	$	37,550.00		
11/01/32	$	1,515,000.00	$	-	$	36,140.00	$	133,690.00	
05/01/33	$	1,515,000.00	$	65,000.00	$	36,140.00		
11/01/33	$	1,450,000.00	$	-	$	34,612.50	$	135,752.50	
05/01/34	$	1,450,000.00	$	70,000.00	$	34,612.50		
11/01/34	$	1,380,000.00	$	-	$	32,967.50	$	137,580.00	
05/01/35	$	1,380,000.00	$	70,000.00	$	32,967.50		
11/01/35	$	1,310,000.00	$	-	$	31,322.50	$	134,290.00	
05/01/36	$	1,310,000.00	$	75,000.00	$	31,322.50		
11/01/36	$	1,235,000.00	$	-	$	29,560.00	$	135,882.50	
05/01/37	$	1,235,000.00	$	80,000.00	$	29,560.00		
11/01/37	$	1,155,000.00	$	-	$	27,680.00	$	137,240.00	
05/01/38	$	1,155,000.00	$	80,000.00	$	27,680.00		
11/01/38	$	1,075,000.00	$	-	$	25,800.00	$	133,480.00	
05/01/39	$	1,075,000.00	$	85,000.00	$	25,800.00		
11/01/39	$	990,000.00	$	-	$	23,760.00	$	134,560.00	
05/01/40	$	990,000.00	$	90,000.00	$	23,760.00		
11/01/40	$	900,000.00	$	-	$	21,600.00	$	135,360.00	
05/01/41	$	900,000.00	$	95,000.00	$	21,600.00		
11/01/41	$	805,000.00	$	-	$	19,320.00	$	135,920.00	
05/01/42	$	805,000.00	$	100,000.00	$	19,320.00		
11/01/42	$	705,000.00	$	-	$	16,920.00	$	136,240.00	
05/01/43	$	705,000.00	$	105,000.00	$	16,920.00		
11/01/43	$	600,000.00	$	-	$	14,400.00	$	136,320.00	

	Series	2018 Special Assessment Amortization Schedule	Bonds		
Date		Balance	Principal	Interest	Total	

05/01/44	
$	
600,000.00	
$	110,000.00	
$	14,400.00		
11/01/44	$	490,000.00	$	-	$	11,760.00	$	136,160.00	
05/01/45	$	490,000.00	$	115,000.00	$	11,760.00		
11/01/45	$	375,000.00	$	-	$	9,000.00	$	135,760.00	
05/01/46	$	375,000.00	$	120,000.00	$	9,000.00		
11/01/46	$	255,000.00	$	-	$	6,120.00	$	135,120.00	
05/01/47	$	255,000.00	$	125,000.00	$	6,120.00		
11/01/47	$	130,000.00	$	-	$	3,120.00	$	134,240.00	
05/01/48	$	130,000.00	$	130,000.00	$	3,120.00	$	133,120.00	
			$	2,020,000.00	$	1,550,085.00	$	3,659,032.50	

Debt Service Fund - Series 2021 Phase 2 Fiscal Year 2023

	Adopted Budget	Actual thru	Projected Next 3	Total thru	Adopted Budget	
Description	FY2022	6/30/22	Months	9/30/22	FY2023	

Revenues						
Special Assessments	$	144,764	$	145,309	$	-	$	145,309	$	144,764	
Interest	$	-	$	6	$	-	$	6	$	-	
Carry Forward Surplus	$	45,024	$	45,025	$	-	$	45,025	$	45,296	
Total Revenues	$	189,788	$	190,340	$	-	$	190,340	$	190,060	

Expenditures						
Interest Payment - 11/01	$	45,022	$	45,022	$	-	$	45,022	$	44,369	
Principal Payment - 05/01	$	55,000	$	55,000	$	-	$	55,000	$	55,000	
Interest Payment - 05/01	$	45,022	$	45,022	$	-	$	45,022	$	44,369	
Total Expenditures	$	145,044	$	145,044	$	-	$	145,044	$	143,738	
						
Excess Revenues/(Expenditures)	$	44,744	$	45,296	$	-	$	45,296	$	46,322	

1. Carry forward surplus is net of Reserves.

  Interest 11/1/23	$43,716	

Net Assessments	$144,764 Add: Discounts & Collection 		$9,240 
Gross Assessments 	$154,004 

Product Type	No. of Units	
Annual Debt Service	Per Unit
Net Debt Assessment	Per Unit
Gross Debt Assessment	
Single-Family 32'	115	$	57,944	$503.87	$536.03	
Single-Family 50'	112	$	86,820	$775.18	$824.66	
	227	$	144,764			

Series 2021 Special Assessment Bonds Phase 2 Project Amortization Schedule

Date	Balance	Principal	Interest	Total

11/01/22	$	2,525,000.00	$	-	$	44,368.75	$	144,390.63	
05/01/23	$	2,525,000.00	$	55,000.00	$	44,368.75		
11/01/23	$	2,470,000.00	$	-	$	43,715.63	$	143,084.38	
05/01/24	$	2,470,000.00	$	55,000.00	$	43,715.63		
11/01/24	$	2,415,000.00	$	-	$	43,062.50	$	141,778.13	
05/01/25	$	2,415,000.00	$	55,000.00	$	43,062.50		
11/01/25	$	2,300,000.00	$	-	$	42,409.38	$	140,471.88	
05/01/26	$	2,300,000.00	$	60,000.00	$	42,409.38		
11/01/26	$	2,300,000.00	$	-	$	41,696.88	$	144,106.25	
05/01/27	$	2,300,000.00	$	60,000.00	$	41,696.88		
11/01/27	$	2,240,000.00	$	-	$	40,834.38	$	142,531.25	
05/01/28	$	2,240,000.00	$	60,000.00	$	40,834.38		
11/01/28	$	2,180,000.00	$	-	$	39,971.88	$	140,806.25	
05/01/29	$	2,180,000.00	$	65,000.00	$	39,971.88		
11/01/29	$	2,115,000.00	$	-	$	39,037.50	$	144,009.38	
05/01/30	$	2,115,000.00	$	65,000.00	$	39,037.50		
11/01/30	$	2,050,000.00	$	-	$	38,103.13	$	142,140.63	
05/01/31	$	2,050,000.00	$	65,000.00	$	38,103.13		
11/01/31	$	1,985,000.00	$	-	$	37,168.75	$	140,271.88	
05/01/32	$	1,985,000.00	$	70,000.00	$	37,168.75		
11/01/32	$	1,915,000.00	$	-	$	35,987.50	$	143,156.25	
05/01/33	$	1,915,000.00	$	70,000.00	$	35,987.50		
11/01/33	$	1,845,000.00	$	-	$	34,806.25	$	140,793.75	
05/01/34	$	1,845,000.00	$	75,000.00	$	34,806.25		
11/01/34	$	1,770,000.00	$	-	$	33,540.63	$	143,346.88	
05/01/35	$	1,770,000.00	$	75,000.00	$	33,540.63		
11/01/35	$	1,695,000.00	$	-	$	32,275.00	$	140,815.63	
05/01/36	$	1,695,000.00	$	80,000.00	$	32,275.00		
11/01/36	$	1,615,000.00	$	-	$	30,925.00	$	143,200.00	
05/01/37	$	1,615,000.00	$	80,000.00	$	30,925.00		
11/01/37	$	1,535,000.00	$	-	$	29,575.00	$	140,500.00	
05/01/38	$	1,535,000.00	$	85,000.00	$	29,575.00		
11/01/38	$	1,450,000.00	$	-	$	28,140.63	$	142,715.63	
05/01/39	$	1,450,000.00	$	90,000.00	$	28,140.63		
11/01/39	$	1,360,000.00	$	-	$	26,621.88	$	144,762.50	
05/01/40	$	1,360,000.00	$	90,000.00	$	26,621.88		
11/01/40	$	1,175,000.00	$	-	$	25,103.13	$	141,725.00	
05/01/41	$	1,175,000.00	$	95,000.00	$	25,103.13		
11/01/41	$	1,175,000.00	$	-	$	23,500.00	$	143,603.13	
05/01/42	$	1,175,000.00	$	95,000.00	$	23,500.00		
11/01/42	$	1,080,000.00	$	-	$	21,600.00	$	140,100.00	
05/01/43	$	1,080,000.00	$	100,000.00	$	21,600.00		
11/01/43	$	980,000.00	$	-	$	19,600.00	$	141,200.00	

Series 2021 Special Assessment Bonds Phase 2 Project Amortization Schedule

Date		Balance	Principal	Interest	Total	

05/01/44	
$	
980,000.00	
$	105,000.00	
$	19,600.00		
11/01/44	$	875,000.00	$	-	$	17,500.00	$	142,100.00	
05/01/45	$	875,000.00	$	110,000.00	$	17,500.00		
11/01/45	$	765,000.00	$	-	$	15,300.00	$	142,800.00	
05/01/46	$	765,000.00	$	115,000.00	$	15,300.00		
11/01/46	$	650,000.00	$	-	$	13,000.00	$	143,300.00	
05/01/47	$	650,000.00	$	120,000.00	$	13,000.00		
11/01/47	$	530,000.00	$	-	$	10,600.00	$	143,600.00	
05/01/48	$	530,000.00	$	125,000.00	$	10,600.00	$	-	
11/01/48	$	405,000.00	$	-	$	8,100.00	$	143,700.00	
05/01/49	$	405,000.00	$	130,000.00	$	8,100.00	$	-	
11/01/49	$	275,000.00	$	-	$	5,500.00	$	143,600.00	
05/01/50	$	275,000.00	$	135,000.00	$	5,500.00	$	-	
11/1/50	$	140,000.00	$	-	$	2,800.00	$	143,300.00	
5/1/51	$	140,000.00	$	140,000.00	$	2,800.00	$	142,800.00	
			$	2,525,000.00	$	1,649,687.50	$	4,274,709.38	

Debt Service Fund - Series 2021 Phase 4A/5A Fiscal Year 2023

	Adopted Budget	Actual thru	Projected Next 3	Total thru	Adopted Budget	
Description	FY2022	6/30/22	Months	9/30/22	FY2023	

Revenues						
Special Assessments	$	150,700	$	150,701	$	-	$	150,701	$	150,700	
Interest	$	-	$	5	$	-	$	5	$	-	
Carry Forward Surplus	$	48,031	$	48,033	$	-	$	48,033	$	47,678	
Total Revenues	$	198,731	$	198,738	$	-	$	198,738	$	198,378	

Expenditures						
Interest Payment - 11/01	$	48,030	$	48,030	$	-	$	48,030	$	47,343	
Principal Payment - 05/01	$	55,000	$	55,000	$	-	$	55,000	$	55,000	
Interest Payment - 05/01	$	48,030	$	48,030	$	-	$	48,030	$	47,343	
Total Expenditures	$	151,060	$	151,060	$	-	$	151,060	$	149,685	
						
Excess Revenues/(Expenditures)	$	47,671	$	47,678	$	-	$	47,678	$	48,693	

1. Carry forward surplus is net of Reserves.

  Interest 11/1/23	$46,655	

Net Assessments	$150,700 Add: Discounts & Collection 		$9,619 
Gross Assessments 	$160,319 

Product Type	

No. of Units	
Annual Debt Service	Per Unit Net Debt
Assessment	Per Unit Gross Debt
Assessment	
Multi-Family-Duplex 33'	68	$	31,620	$465.01	$494.69	
Single-Family 32'	57	$	28,714	$503.76	$535.91	
Single-Family 40'	37	$	22,940	$620.01	$659.58	
Single-Family 50'	87	$	67,426	$775.01	$824.48	
	249	$	150,700			

11/01/22	$	2,605,000.00	$	
05/01/23	$	2,605,000.00	$	55	
11/01/23	$	2,550,000.00	$	
05/01/24	$	2,550,000.00	$	55	
11/01/24	$	2,495,000.00	$	
05/01/25	$	2,495,000.00	$	55	
11/01/25	$	2,380,000.00	$	
05/01/26	$	2,380,000.00	$	60	
11/01/26	$	2,380,000.00	$	
05/01/27	$	2,380,000.00	$	60	
11/01/27	$	2,320,000.00	$	
05/01/28	$	2,320,000.00	$	60	
11/01/28	$	2,260,000.00	$	
05/01/29	$	2,260,000.00	$	65	
11/01/29	$	2,195,000.00	$	
05/01/30	$	2,195,000.00	$	65	
11/01/30	$	2,130,000.00	$	
05/01/31	$	2,130,000.00	$	70	
11/01/31	$	2,060,000.00	$	
05/01/32	$	2,060,000.00	$	70	
11/01/32	$	1,990,000.00	$	
05/01/33	$	1,990,000.00	$	75	
11/01/33	$	1,915,000.00	$	
05/01/34	$	1,915,000.00	$	75	
11/01/34	$	1,840,000.00	$	
05/01/35	$	1,840,000.00	$	80	
11/01/35	$	1,760,000.00	$	
05/01/36	$	1,760,000.00	$	80	
11/01/36	$	1,680,000.00	$	
05/01/37	$	1,680,000.00	$	85	
11/01/37	$	1,595,000.00	$	
05/01/38	$	1,595,000.00	$	90	
11/01/38	$	1,505,000.00	$	
05/01/39	$	1,505,000.00	$	90	
11/01/39	$	1,415,000.00	$	
05/01/40	$	1,415,000.00	$	95	
11/01/40	$	1,320,000.00	$	
05/01/41	$	1,320,000.00	$	95	
11/01/41	$	1,225,000.00	$	
05/01/42	$	1,225,000.00	$	100	
11/01/42	$	1,125,000.00	$	
05/01/43	$	1,125,000.00	$	105	
11/01/43	$	1,020,000.00	$	
05/01/44	$	1,020,000.00	$	110	
11/01/44	$	910,000.00	$	
05/01/45	$	910,000.00	$	115	
11/01/45	$	795,000.00	$	
05/01/46	$	795,000.00	$	120	
11/01/46	$	675,000.00	$	

$	47,342.50	$	150,372.50	
$	47,342.50		
$	46,655.00	$	148,997.50	
$	46,655.00		
$	45,967.50	$	147,622.50	
$	45,967.50		
$	45,280.00	$	146,247.50	
$	45,280.00		
$	44,530.00	$	149,810.00	
$	44,530.00		
$	43,592.50	$	148,122.50	
$	43,592.50		
$	42,655.00	$	146,247.50	
$	42,655.00		
$	41,639.38	$	149,294.38	
$	41,639.38		
$	40,623.75	$	147,263.13	
$	40,623.75		
$	39,530.00	$	150,153.75	
$	39,530.00		
$	38,270.00	$	147,800.00	
$	38,270.00		
$	36,920.00	$	150,190.00	
$	36,920.00		
$	35,570.00	$	147,490.00	
$	35,570.00		
$	34,130.00	$	149,700.00	
$	34,130.00		
$	32,690.00	$	146,820.00	
$	32,690.00		
$	31,160.00	$	148,850.00	
$	31,160.00		
$	29,540.00	$	150,700.00	
$	29,540.00		
$	27,920.00	$	147,460.00	
$	27,920.00		
$	26,210.00	$	149,130.00	
$	26,210.00		
$	24,500.00	$	145,710.00	
$	24,500.00		
$	22,500.00	$	147,000.00	
$	22,500.00		
$	20,400.00	$	147,900.00	
$	20,400.00		
$	18,200.00	$	148,600.00	
$	18,200.00		
$	15,900.00	$	149,100.00	
$	15,900.00		
$	13,500.00	$	149,400.00	

Series 2021 Special Assessment Bonds Phase 4A/5A Project Amortization Schedule

Date	Balance	Principal	Interest	Total

-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-

Series 2021 Special Assessment Bonds Phase 4A/5A Project Amortization Schedule

Date		Balance	Principal	Interest	Total	

05/01/47	
$	
675,000.00	
$	125,000.00	
$	13,500.00		
11/01/47	$	550,000.00	$	-	$	11,000.00	$	149,500.00	
05/01/48	$	550,000.00	$	130,000.00	$	11,000.00		
11/01/48	$	420,000.00	$	-	$	8,400.00	$	149,400.00	
05/01/49	$	420,000.00	$	135,000.00	$	8,400.00		
11/01/49	$	285,000.00	$	-	$	5,700.00	$	149,100.00	
05/01/50	$	285,000.00	$	140,000.00	$	5,700.00		
11/01/50	$	145,000.00	$	-	$	2,900.00	$	148,600.00	
05/01/51	$	145,000.00	$	145,000.00	$	2,900.00	$	147,900.00	
			$	2,605,000.00	$	1,746,451.25	$	4,454,481.25