East547
Community Development District

Proposed Budget
FY2023

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	Proposed Budget	
Description	FY2022	2/28/22	7 Months	9/30/22	FY2023	

Revenues

Assessments - Tax Roll	$	-	$	-	$	-	$	-	$	195,750	
Developer Contributions	$	271,042	$	50,000	$	125,036	$	175,036	$	128,357	
Total Revenues	$	271,042	$	50,000	$	125,036	$	175,036	$	324,107	

Expenditures						
Administrative
Supervisor Fees	
$	12,000	
$	2,200	
$	7,000	
$	9,200	
$	12,000	
Engineering Fees	$	15,000	$	-	$	8,750	$	8,750	$	15,000	
Assessment Administration	$	5,000	$	5,000	$	-	$	5,000	$	5,000	
Arbitrage Fees	$	1,000	$	-	$	1,000	$	1,000	$	900	
Dissemination Fees	$	5,000	$	2,083	$	2,917	$	5,000	$	6,000	
Attorney Fees	$	25,000	$	4,103	$	14,236	$	18,340	$	25,000	
Annual Audit	$	5,000	$	-	$	4,200	$	4,200	$	4,200	
Management Fees	$	35,000	$	14,583	$	20,417	$	35,000	$	36,050	
Information Technology	$	1,800	$	750	$	1,050	$	1,800	$	1,800	
Website Maintenance	$	1,200	$	500	$	700	$	1,200	$	1,200	
Trustee Fees	$	5,000	$	-	$	5,000	$	5,000	$	7,500	
Telephone	$	300	$	-	$	175	$	175	$	250	
Postage	$	600	$	61	$	434	$	495	$	600	
Insurance	$	5,500	$	5,175	$	-	$	5,175	$	5,822	
Printing & Binding	$	1,000	$	12	$	60	$	72	$	500	
Legal Advertising	$	10,000	$	1,576	$	3,909	$	5,485	$	8,000	
Contingency	$	5,000	$	191	$	350	$	541	$	5,000	
Office Supplies	$	500	$	11	$	15	$	25	$	250	
Travel Per Diem	$	660	$	-	$	250	$	250	$	660	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total Administrative	$  134,735	$	36,421	$	70,462	$	106,883	$  135,907	

Adopted Budget	Actuals Thru	Projected Next	Total Thru	Proposed Budget	
Description	FY2022	2/28/22	7 Months	9/30/22	FY2023	

Operations & Maintenance Field Expenses Property Insurance
Field Management Landscape Maintenance Landscape Replacement Lake Maintenance Streetlights
Electric
Water & Sewer
Sidewalk & Asphalt Maintenance Irrigation Repairs
General Repairs & Maintenance Contingency

$	5,000	$
$	15,000	$
$	30,733	$
$	5,000	$
$	11,000	$
$	7,000	$
$	5,000	$
$	5,000	$
$	2,500	$
$	5,000	$
$	5,000	$
$	5,500	$

-	$	2,500	$
-	$	7,500	$
-	$	15,367	$
-	$	2,500	$
-	$	5,500	$
-	$	3,500	$
-	$	2,500	$
-	$	2,500	$
-	$	1,250	$
-	$	2,500	$
-	$	2,500	$
-	$	2,750	$

2,500	$
7,500	$
15,367	$
2,500	$
5,500	$
3,500	$
2,500	$
2,500	$
1,250	$
2,500	$
2,500	$
2,750	$

5,000
15,000
42,380
5,000
5,500
7,000
5,000
5,000
2,500
5,000
5,000
5,500

Subtotal Field Expenses	$  101,733	$	-	$	50,867	$	50,867	$  107,880

Amenity Expenses Amenity - Electric Amenity - Water Amenity Insurance Playground Lease Internet
Pest Control Janitorial Services Security Services Pool Maintenance
Amenity Access Management Amenity Repairs & Maintenance Contingency

$	4,800	$
$	1,667	$
$	5,000	$
$	4,667	$
$	1,000	$
$	240	$
$	1,800	$
$	5,000	$
$	5,400	$
$	1,667	$
$	1,667	$
$	1,667	$

-	$	2,400	$
-	$	833	$
-	$	2,500	$
-	$	2,333	$
-	$	500	$
-	$	120	$
-	$	900	$
-	$	2,500	$
-	$	2,700	$
-	$	833	$
-	$	833	$
-	$	833	$

2,400	$
833	$
2,500	$
2,333	$
500	$
120	$
900	$
2,500	$
2,700	$
833	$
833	$
833	$

14,400
5,000
5,000
- 3,000
720
6,000
15,000
16,200
5,000
5,000
5,000

Subtotal Amenity Expenses	$	34,573	$	-	$	17,287	$	17,287	$	80,320

Total Operations & Maintenance	$  136,307	$	-	$	68,153	$	68,153	$  188,200

Total Expenditures	$  271,042	$	36,421	$	138,616	$	175,036	$  324,107

Excess Revenues/(Expenditures)	$	0	$	13,579	$	(13,580)  $	(0)  $	-

Net Assessments	$195,750	
Add: Discounts & Collections 7%	$14,734	
Gross Assessments	$210,484	

Product	ERU's	Assessable Units	ERU/Unit	Net Assessment	Net Per Unit	Gross Per Unit	
Platted	261.00	261	1.00	$195,750.00	$750.00	$806.45	

East 547
Community Development District
GENERAL FUND BUDGET

REVENUES:

Assessments

The District will levy a non-ad valorem assessment on all assessable property within the District to fund all general operating and maintenance expenditures during 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.

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.

Amenity - 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	Proposed Budget	
Description	FY2021	2/28/22	7 Months	9/30/21	FY2023	

Revenues						
Assessments - Direct	$	326,088	$	242,831	$	80,944	$	323,775	$	326,088	
Carry Forward Surplus (1)	$	77,548	$	77,551	$	-	$	77,551	$	101,140	
Total Revenues	$	403,636	$	320,383	$	80,944	$	401,326	$	427,228	

Expenditures						
General & Administrative:						
Interest - 11/01	$	77,548	$	77,548	$	-	$	77,548	$	101,138	
Principal - 05/01	$	120,000	$	-	$	120,000	$	120,000	$	125,000	
Interest - 05/01	$	102,638	$	-	$	102,638	$	102,638	$	101,138	
Total Expenditures	$	300,186	$	77,548	$	222,638	$	300,186	$	327,275	
						
Excess Revenues/(Expenditures)	$	103,450	$	242,834	$	(141,694)	$	101,140	$	99,953	

Interest - 11/1/2022	
$	
99,575.00	

(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	$
05/01/22	$

5,875,000.00  $
5,875,000.00  $

-	$
120,000.00  $

77,548.33  $
102,637.50

77,548.33

11/01/22
05/01/23

$
$

5,755,000.00  $
5,755,000.00  $

-	$
125,000.00  $

101,137.50  $
101,137.50

323,775.00

11/01/23	$
05/01/24	$
11/01/24	$
05/01/25	$
11/01/25	$
05/01/26	$
11/01/26	$
05/01/27	$
11/01/27	$
05/01/28	$
11/01/28	$
05/01/29	$
11/01/29	$
05/01/30	$
11/01/30	$
05/01/31	$
11/01/31	$
05/01/32	$
11/01/32	$
05/01/33	$
11/01/33	$
05/01/34	$
11/01/34	$
05/01/35	$
11/01/35	$
05/01/36	$
11/01/36	$
05/01/37	$
11/01/37	$
05/01/38	$
11/01/38	$
05/01/39	$
11/01/39	$
05/01/40	$
11/01/40	$
05/01/41	$
11/01/41	$
05/01/42	$
11/01/42	$
05/01/43	$
11/01/43	$
05/01/44	$
11/01/44	$
05/01/45	$
11/01/45	$
05/01/46	$
11/01/46	$
05/01/47	$
11/01/47	$
05/01/48	$
11/01/48	$
05/01/49	$
11/01/49	$
05/01/50	$
11/01/50	$
05/01/51	$

5,630,000.00  $
5,630,000.00  $
5,505,000.00  $
5,505,000.00  $
5,375,000.00  $
5,375,000.00  $
5,240,000.00  $
5,240,000.00  $
4,515,000.00  $
5,105,000.00  $
4,965,000.00  $
4,965,000.00  $
4,820,000.00  $
4,820,000.00  $
4,670,000.00  $
4,670,000.00  $
4,515,000.00  $
4,515,000.00  $
4,355,000.00  $
4,355,000.00  $
4,190,000.00  $
4,190,000.00  $
4,020,000.00  $
4,020,000.00  $
3,845,000.00  $
3,845,000.00  $
3,665,000.00  $
3,665,000.00  $
3,480,000.00  $
3,480,000.00  $
3,285,000.00  $
3,285,000.00  $
3,085,000.00  $
3,085,000.00  $
2,880,000.00  $
2,880,000.00  $
2,665,000.00  $
2,665,000.00  $
2,445,000.00  $
2,445,000.00  $
2,215,000.00  $
2,215,000.00  $
1,975,000.00  $
1,975,000.00  $
1,725,000.00  $
1,725,000.00  $
1,465,000.00  $
1,465,000.00  $
1,195,000.00  $
1,195,000.00  $
915,000.00  $
915,000.00  $
620,000.00  $
620,000.00  $
315,000.00  $
315,000.00  $

-	$
125,000.00  $
-	$
130,000.00  $
-	$
135,000.00  $
-	$
135,000.00  $
-	$
140,000.00  $
-	$
145,000.00  $
-	$
150,000.00  $
-	$
155,000.00  $
-	$
160,000.00  $
-	$
165,000.00  $
-	$
170,000.00  $
-	$
175,000.00  $
-	$
180,000.00  $
-	$
185,000.00  $
-	$
195,000.00  $
-	$
200,000.00  $
-	$
205,000.00  $
-	$
215,000.00  $
-	$
220,000.00  $
-	$
230,000.00  $
-	$
240,000.00  $
-	$
250,000.00  $
-	$
260,000.00  $
-	$
270,000.00  $
-	$
280,000.00  $
-	$
295,000.00  $
-	$
305,000.00  $
-	$
315,000.00  $

99,575.00  $
99,575.00
98,012.50  $
98,012.50
96,387.50  $
96,387.50
94,700.00  $
94,700.00
92,675.00  $
92,675.00
90,575.00  $
90,575.00
88,400.00  $
88,400.00
86,150.00  $
86,150.00
83,825.00  $
83,825.00
81,185.00  $
81,185.00
78,462.50  $
78,462.50
75,657.50  $
75,657.50
72,770.00  $
72,770.00
69,800.00  $
69,800.00
66,747.50  $
66,747.50
63,530.00  $
63,530.00
60,230.00  $
60,230.00
56,847.50  $
56,847.50
53,300.00  $
53,300.00
48,900.00  $
48,900.00
44,300.00  $
44,300.00
39,500.00  $
39,500.00
34,500.00  $
34,500.00
29,300.00  $
29,300.00
23,900.00  $
23,900.00
18,300.00  $
18,300.00
12,400.00  $
12,400.00
6,300.00  $
6,300.00  $

325,712.50

322,587.50

324,400.00

326,087.50

322,375.00

323,250.00

323,975.00

324,550.00

324,975.00

325,010.00

324,647.50

324,120.00

323,427.50

322,570.00

321,547.50

325,277.50

323,760.00

322,077.50

325,147.50

322,200.00

323,200.00

323,800.00

324,000.00

323,800.00

323,200.00

322,200.00

325,700.00

323,700.00
321,300.00

$	5,875,000.00  $	3,914,920.83  $	9,789,920.83