East547
Community Development District

Adopted Budget
FY2022

IJft
IJl'I

Table of Contents

1 - 2

3 - 7

8

9

 	General Fund

 	General Fund Narrative

 	Debt Service Fund - Series 2021

 	Amortization Schedule

Adopted Budget	Actuals Thru	Projected Next	Total Thru	Adopted Budget	
Description	FY2021	6/30/21	3 Months	9/30/21	FY2022	

Revenues						
Developer Contributions	$	114,010	$	85,000	$	5,969	$	90,969	$	271,042	
Total Revenues	$ 114,010	$	85,000	$	5,969	$	90,969	$ 271,042	

Expenditures						
Administrative
Supervisor Fees	
$	12,000	
$	3,000	
$	3,000	
$	6,000	
$	12,000	
Engineering Fees	$	15,000	$	5,000	$	3,750	$	8,750	$	15,000	
Assessment Administration	$	-	$	-	$	-	$	-	$	5,000	
Arbitrage Fees	$	-	$	-	$	-	$	-	$	1,000	
Dissemination Fees	$	-	$	-	$	1,250	$	1,250	$	5,000	
Attorney Fees	$	25,000	$	8,221	$	7,200	$	15,421	$	25,000	
Annual Audit	$	-	$	-	$	-	$	-	$	5,000	
Management Fees	$	35,000	$	26,250	$	8,750	$	35,000	$	35,000	
Information Technology	$	900	$	1,000	$	-	$	1,000	$	1,800	
Website Maintenance	$	2,350	$	1,875	$	375	$	2,250	$	1,200	
Trustee Fees	$	-	$	-	$	-	$	-	$	5,000	
Telephone	$	300	$	-	$	75	$	75	$	300	
Postage	$	1,000	$	115	$	186	$	301	$	600	
Insurance	$	5,000	$	5,000	$	-	$	5,000	$	5,500	
Printing & Binding	$	1,000	$	71	$	180	$	251	$	1,000	
Legal Advertising	$	10,000	$	13,582	$	1,305	$	14,887	$	10,000	
Contingency	$	5,000	$	33	$	150	$	183	$	5,000	
Office Supplies	$	625	$	58	$	19	$	77	$	500	
Travel Per Diem	$	660	$	-	$	250	$	250	$	660	
Dues, Licenses & Subscriptions	$	175	$	275	$	-	$	275	$	175	
Total Administrative	$ 114,010	$	64,479	$	26,490	$	90,969	$ 134,735	

Adopted Budget	Actuals Thru	Projected Next	Total Thru	Adopted Budget	
Description	FY2021	6/30/21	3 Months	9/30/21	FY2022	

Operations & Maintenance
Field Expenses
Property Insurance	$	-	$	-	$	-	$	-	$	5,000	
Field Management	$	-	$	-	$	-	$	-	$	15,000	
Landscape Maintenance	$	-	$	-	$	-	$	-	$	30,733	
Landscape Replacement	$	-	$	-	$	-	$	-	$	5,000	
Lake Maintenance	$	-	$	-	$	-	$	-	$	11,000	
Streetlights	$	-	$	-	$	-	$	-	$	7,000	
Electric	$	-	$	-	$	-	$	-	$	5,000	
Water & Sewer	$	-	$	-	$	-	$	-	$	5,000	
Sidewalk & Asphalt Maintenance	$	-	$	-	$	-	$	-	$	2,500	
Irrigation Repairs	$	-	$	-	$	-	$	-	$	5,000	
General Repairs & Maintenance	$	-	$	-	$	-	$	-	$	5,000	
Contingency	$	-	$	-	$	-	$	-	$	5,500	
Subtotal Field Expenses	$	-	$	-	$	-	$	-	$ 101,733	

Amenity Expenses
Amenity - Electric	$	-	$	-	

$	-	

$	-	

$	4,800	
Amenity - Water	$	-	$	-	$	-	$	-	$	1,667	
Amenity Insurance	$	-	$	-	$	-	$	-	$	5,000	
Playground Lease	$	-	$	-	$	-	$	-	$	4,667	
Internet	$	-	$	-	$	-	$	-	$	1,000	
Pest Control	$	-	$	-	$	-	$	-	$	240	
Janitorial Services	$	-	$	-	$	-	$	-	$	1,800	
Security Services	$	-	$	-	$	-	$	-	$	5,000	
Pool Maintenance	$	-	$	-	$	-	$	-	$	5,400	
Amenity Access Management	$	-	$	-	$	-	$	-	$	1,667	
Amenity Repairs & Maintenance	$	-	$	-	$	-	$	-	$	1,667	
Contingency	$	-	$	-	$	-	$	-	$	1,667	
Subtotal Amenity Expenses	$	-	$	-	$	-	$	-	$	34,573	
				
Total Operations & Maintenance	$	-	$	-	$	-	$	-	$ 136,307	
				
Total Expenditures	$    114,010	$	64,479	$	26,490	$	90,969	$ 271,042	

Excess Revenues/(Expenditures)	$	-	$	20,521	$	(20,521)   $	0	$	-

East 547
Community Development District
GENERAL FUND BUDGET

REVENUES:

Developer Contributions

The District will enter into a Funding Agreement with the Developer to fund the General Fund expenditures for the Fiscal Year.

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.

Engineering Fees

The District's engineer will be providing 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.

Assessment Administration

The District will contract to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Arbitrage Fees

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on its Series 2020 bonds and another anticipated bond issuance.

Dissemination Fees

The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(5) which relates to additional reporting requirements for unrated bond issues. This cost is based upon the Series 2020 bonds and another anticipated bond issuance.

Attorney Fees

The District's legal counsel will be providing general legal services to the District, e.g. attendance and preparation for meetings, preparation and review of agreements, resolutions, etc. as directed by the Board of Supervisors and the District Manager.

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis.

Management Fees

The District will incur costs for Management, Accounting and Administrative services during the Fiscal Year.

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.

Description	Annually	

Information Technology (GMS) Website Maintenance (GMS)

Total	
$1,800
$1,200	
	$3,000	

Trustee Fees

The District will incur trustee related costs with the issuance of its’ issued bonds.

Telephone

Telephone and fax machine.

Postage

The District incurs charges for mailing of Board meeting agenda packages, overnight deliveries, correspondence, etc.

Insurance

The District’s general liability, public official’s liability insurance and property insurance coverages.

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.

Contingency

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

Office Supplies

Any supplies that may need to be purchased during the fiscal year, e.g., paper, minute books, file folders, labels, paper clips, etc.

Travel Per Diem

The Board of Supervisors can be reimbursed for travel expenditures related to the conducting of District business.

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:

Field Expenses

Property Insurance

The District’s property insurance coverages.

Field Management

Represents the estimated costs of contracting services that provide onsite field management of contracts for the District such as landscape and lake maintenance. Services can include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Landscape Maintenance

Represents the estimated maintenance of the landscaping within the common areas of the District after the installation of landscape material has been completed.

Landscape Replacement

Represents the estimated cost of replacing landscaping within the common areas of the District.

Lake Maintenance

Represents the estimated maintenance of the lake within the common areas of the District.

Streetlights

Represents the cost to maintain street lights within the District Boundaries that are expected to be in place throughout the fiscal year.

Electric

Represents current and estimated electric charges of common areas throughout the District.

Water & Sewer

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

Sidewalk & Asphalt Maintenance

Represents the estimated costs of maintaining the sidewalks and asphalt throughout the District’s Boundary.

Irrigation Repairs

Represents the cost of maintaining and repairing the irrigation system. This includes the sprinklers, and irrigation wells.

General Repairs & Maintenance

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

Contingency

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

Amenity Expenses

Amenity - Electric

Represents estimated electric charges for the District’s amenity facilities.

Amenity – Water

Represents estimated water charges for the District’s amenity facilities.

Amenity – Insurance

Represents the District’s property insurance coverages.

Playground Lease

The District will enter into a leasing agreement for playgrounds installed in the community.

Internet

Internet service will be added for use at the Amenity Center.

Pest Control

The District will incur costs for pest control treatments to its amenity facilities.

Janitorial Services

Represents estimated costs to provide janitorial services and supplies for the District’s amenity facilities.

Security Services

Represents the estimated cost of contracting a monthly security service for the District’s amenity facilities.

Pool Maintenance

Represents estimated costs of regular cleaning and treatments of the District’s pool.

Amenity Access Management

Represents the cost of managing and monitoring access to the District’s amenity facilities.

Amenity Repairs & Maintenance

Represents estimated costs for repairs and maintenance of the District’s amenity facilities.

Contingency

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

East 547
Community Development District Debt Service Fund Series 2021

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
	Description	FY2021	6/30/21	3 Months	9/30/21	FY2022	

Revenues							
Assessments - Direct	$	-	$	-	$	-	$	-	$	326,088	
Carry Forward Surplus (1)	$	-	$	-	$	-	$	-	$	77,548	
Total Revenues	$	-	$	-	$	-	$	-	$	403,636	

Expenditures		
General & Administrative:		
Interest - 11/01	$	-	$	-	$	-	$	-	$	77,548	
Principal - 05/01	$	-	$	-	$	-	$	-	$	120,000	
Interest - 05/01	$	-	$	-	$	-	$	-	$	102,638	
Total Expenditures	$	-	$	-	$	-	$	-	$	300,186	

Other Sources/(Uses)					
Bond Proceeds	$	240,592	$	240,592	$	-	$	240,592	$	-	
Total Other Sources/(Uses)	$	240,592	$	240,592	$	-	$	240,592	$	-	
					
Excess Revenues/(Expenditures)	$	240,592	$	240,592	$	-	$	240,592	$	103,450	

Interest - 11/1/2022    $	101,137.50

(1) Carryforward Surplus is net of Debt Service Reserve Funds

East 547 Community Development District Series 2021 Special Assessment Bonds
Amortization Schedule

Date	Balance	Prinicpal	Interest	Total

11/01/21	$	5,875,000.00	$	
05/01/22	$	5,875,000.00	$	12	
11/01/22	$	5,755,000.00	$	
05/01/23	$	5,755,000.00	$	12	
11/01/23	$	5,630,000.00	$	
05/01/24	$	5,630,000.00	$	12	
11/01/24	$	5,505,000.00	$	
05/01/25	$	5,505,000.00	$	13	
11/01/25	$	5,375,000.00	$	
05/01/26	$	5,375,000.00	$	13	
11/01/26	$	5,240,000.00	$	
05/01/27	$	5,240,000.00	$	13	
11/01/27	$	4,515,000.00	$	
05/01/28	$	5,105,000.00	$	14	
11/01/28	$	4,965,000.00	$	
05/01/29	$	4,965,000.00	$	14	
11/01/29	$	4,820,000.00	$	
05/01/30	$	4,820,000.00	$	15	
11/01/30	$	4,670,000.00	$	
05/01/31	$	4,670,000.00	$	15	
11/01/31	$	4,515,000.00	$	
05/01/32	$	4,515,000.00	$	16	
11/01/32	$	4,355,000.00	$	
05/01/33	$	4,355,000.00	$	16	
11/01/33	$	4,190,000.00	$	
05/01/34	$	4,190,000.00	$	17	
11/01/34	$	4,020,000.00	$	
05/01/35	$	4,020,000.00	$	17	
11/01/35	$	3,845,000.00	$	
05/01/36	$	3,845,000.00	$	18	
11/01/36	$	3,665,000.00	$	
05/01/37	$	3,665,000.00	$	18	
11/01/37	$	3,480,000.00	$	
05/01/38	$	3,480,000.00	$	19	
11/01/38	$	3,285,000.00	$	
05/01/39	$	3,285,000.00	$	20	
11/01/39	$	3,085,000.00	$	
05/01/40	$	3,085,000.00	$	20	
11/01/40	$	2,880,000.00	$	
05/01/41	$	2,880,000.00	$	21	
11/01/41	$	2,665,000.00	$	
05/01/42	$	2,665,000.00	$	22	
11/01/42	$	2,445,000.00	$	
05/01/43	$	2,445,000.00	$	23	
11/01/43	$	2,215,000.00	$	
05/01/44	$	2,215,000.00	$	24	
11/01/44	$	1,975,000.00	$	
05/01/45	$	1,975,000.00	$	25	
11/01/45	$	1,725,000.00	$	
05/01/46	$	1,725,000.00	$	26	
11/01/46	$	1,465,000.00	$	
05/01/47	$	1,465,000.00	$	27	
11/01/47	$	1,195,000.00	$	
05/01/48	$	1,195,000.00	$	28	
11/01/48	$	915,000.00	$	
05/01/49	$	915,000.00	$	29	
11/01/49	$	620,000.00	$	
05/01/50	$	620,000.00	$	30	
11/01/50	$	315,000.00	$	
05/01/51	$	315,000.00	$	31	
		$	5,87	

$	77,548.33	$	77,548.33	
$	102,637.50		
$	101,137.50	$	323,775.00	
$	101,137.50		
$	99,575.00	$	325,712.50	
$	99,575.00		
$	98,012.50	$	322,587.50	
$	98,012.50		
$	96,387.50	$	324,400.00	
$	96,387.50		
$	94,700.00	$	326,087.50	
$	94,700.00		
$	92,675.00	$	322,375.00	
$	92,675.00		
$	90,575.00	$	323,250.00	
$	90,575.00		
$	88,400.00	$	323,975.00	
$	88,400.00		
$	86,150.00	$	324,550.00	
$	86,150.00		
$	83,825.00	$	324,975.00	
$	83,825.00		
$	81,185.00	$	325,010.00	
$	81,185.00		
$	78,462.50	$	324,647.50	
$	78,462.50		
$	75,657.50	$	324,120.00	
$	75,657.50		
$	72,770.00	$	323,427.50	
$	72,770.00		
$	69,800.00	$	322,570.00	
$	69,800.00		
$	66,747.50	$	321,547.50	
$	66,747.50		
$	63,530.00	$	325,277.50	
$	63,530.00		
$	60,230.00	$	323,760.00	
$	60,230.00		
$	56,847.50	$	322,077.50	
$	56,847.50		
$	53,300.00	$	325,147.50	
$	53,300.00		
$	48,900.00	$	322,200.00	
$	48,900.00		
$	44,300.00	$	323,200.00	
$	44,300.00		
$	39,500.00	$	323,800.00	
$	39,500.00		
$	34,500.00	$	324,000.00	
$	34,500.00		
$	29,300.00	$	323,800.00	
$	29,300.00		
$	23,900.00	$	323,200.00	
$	23,900.00		
$	18,300.00	$	322,200.00	
$	18,300.00		
$	12,400.00	$	325,700.00	
$	12,400.00		
$	6,300.00	$	323,700.00	
$	6,300.00	$	321,300.00	
$	3,914,920.83	$	9,789,920.83	

- 0,000.00
- 5,000.00
- 5,000.00
- 0,000.00
- 5,000.00
- 5,000.00
- 0,000.00
- 5,000.00
- 0,000.00
- 5,000.00
- 0,000.00
- 5,000.00
- 0,000.00
- 5,000.00
- 0,000.00
- 5,000.00
- 5,000.00
- 0,000.00
- 5,000.00
- 5,000.00
- 0,000.00
- 0,000.00
- 0,000.00
-
0,000.00
- 0,000.00
- 0,000.00
- 0,000.00
- 5,000.00
- 5,000.00
- 5,000.00

5,000.00