North Powerline Road
Community Development District

Adopted Budget
FY2023

Table of Contents

1-2	General Fund	

3-7	

General Fund Narrative	

8	

Capital Reserve Fund	

9	

Series 2020 Debt Service Fund	

10	

Series 2020 Amortization Schedule	

11	

Series 2022 Debt Service Fund	

12	

Series 2022 Amortization Schedule	

-
-
-

Adopted Budget	Actuals Thru	Projected Next	Total Thru	Adopted Budget		
Description	FY2022	6/30/22	3 Months	9/30/22	FY2023		

Operations & Maintenance						
Field Expenditures						
Property Insurance	$	5,000	$	5,948	$	-	$	5,948	$	20,000	
Field Management	$	15,000	$	8,125	$	3,750	$	11,875	$	15,750	
Landscape Maintenance	$	80,000	$	20,818	$	8,971	$	29,790	$	95,000	
Landscape Replacement	$	5,000	$	1,606	$	1,250	$	2,856	$	25,000	
Lake Maintenance	$	12,000	$	3,098	$	3,531	$	6,629	$	21,600	
Streetlights	$	48,000	$	23,923	$	7,526	$	31,449	$	75,000	
Electric	$	3,600	$	4,814	$	1,500	$	6,314	$	7,500	
Water & Sewer	$	2,400	$	-	$	-	$	-	$	2,400	
Sidewalk & Asphalt Maintenance	$	2,500	$	-	$	625	$	625	$	2,500	
Irrigation Repairs	$	5,000	$	207	$	1,250	$	1,457	$	5,000	
General Repairs & Maintenance	$	5,000	$	200	$	1,250	$	1,450	$	15,000	
Contingency	$	7,500	$	861	$	1,875	$	2,736	$	7,500	
Subtotal Field Expenditures	$	191,000	$	69,600	$	31,529	$	101,129	$	292,250	

Amenity Expenditures						
Amenity - Electric	$	14,400	$	4,069	$	3,600	$	7,669	$	14,400	
Amenity - Water	$	3,500	$	1,287	$	900	$	2,187	$	4,000	
Playground Lease	$	14,000	$	4,781	$	7,172	$	11,954	$	28,688	
Internet	$	3,000	$	505	$	303	$	808	$	2,000	
Pest Control	$	720	$	456	$	-	$	456	$	600	
Janitorial Services	$	8,500	$	2,004	$	1,650	$	3,654	$	7,500	
Security Services	$	7,500	$	5,589	$	-	$	5,589	$	34,000	
Pool Maintenance	$	18,000	$	7,780	$	6,500	$	14,280	$	20,000	
Amenity Access Management	$	5,000	$	1,667	$	1,250	$	2,917	$	5,000	
Amenity Repairs & Maintenance	$	1,000	$	320	$	250	$	570	$	15,000	
Contingency	$	7,500	$	-	$	1,875	$	1,875	$	7,500	
Subtotal Amenity Expenditures	$	83,120	$	28,456	$	23,500	$	51,957	$	138,688	
						
Total Operations & Maintenance	$	274,120	$	98,057	$	55,029	$	153,086	$	430,938	

Other Expenditures						
Capital Reserves	$	5,000	$	-	$	5,000	$	5,000	$	74,200	
Total Other Expenditures	$	5,000	$	-	$	5,000	$	5,000	$	74,200	
						
Total Expenditures	$	434,430	$	205,624	$	91,016	$	296,640	$	664,725	
						
Excess Revenues/(Expenditures)	$	-	$	182,359	$	(29,632)	$	152,727	$	-	

Product	ERU's	Assessable Units	ERU/Unit	Net Total	Net Per Unit	Gross Per Unit	
Phase 1 - Tax Roll	295.00	295	1.00	$194,088.33	$657.93	$707.45	
Phase 2 - Tax Roll	270.00	270	1.00	$177,640.16	$657.93	$707.45	
Phase 3 - Direct - Single Family	8.00	8	1.00	$5,263.41	$657.93	$707.45	
Phase 3 - Direct - Townhomes	225.00	300	0.75	$148,033.47	$493.44	$530.59	
Phase 4 - Direct	38.89	162	0.24	$25,588.61	$157.95	$169.84	
Phase 5 - Developer Contributions	111.04	532	0.21	$73,052.96	$137.32	$147.65	
Phase 6 - Developer Contributions	62.41	299	0.21	$41,057.96	$137.32	$147.65	
	1010.33	1866		$664,724.90			

Revenues:

Assessments

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

Developer Contributions

The District will enter into a funding agreement with the Developer to fund the General Fund expenditures relating to Phase 5 & 6 for the Fiscal Year.

Expenditures:

General & 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

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.

Attorney

The District's legal counsel, KE Law PLLC, 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. The District has contracted Grau & Associates.

Assessment Administration

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

Arbitrage

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 two other anticipated bond issuances.

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. This cost is based upon the Series 2020 bonds and two other anticipated bond issuances. The District is contracted with Governmental Management Services – Central Florida LLC.

Trustee Fees

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

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 with Governmental Management Services – Central Florida LLC 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 with Governmental Management Services – Central Florida LLC 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.

Telephone

Telephone and fax machine.

Postage & Delivery

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

Insurance

The District’s general liability and public official’s liability insurance coverages with EGIS Insurance Advisors.

Copies

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

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 Expenditures

Property Insurance

The District’s property insurance coverages.

Field Management

Represents the costs of contracting services with Governmental Management Services – Central Florida LLC to 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 maintenance of the landscaping within the common areas of the District after the installation of landscape material has been completed. The District has contracted with Prince & Sons, Inc. to provide these services.

Landscape Replacement

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

Lake Maintenance

Represents the cost of contracting aquatic weed control services that maintain the lakes located within the District. The District is contracted with Aquagenix for this service.

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 Expenditures

Amenity - Electric

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

Amenity – Water

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

Playground Lease

The District has entered into a leasing agreement for playgrounds installed in the community.

Internet

Internet service 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 contracted with Resort Pool Services.

Amenity Access Management

Represents the cost of managing and monitoring access to the District’s amenity facilities with services from Governmental Management Services – Central Florida LLC.

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.

Other Expenses:

Capital Reserves

Funds collected and reserved for the replacement of and/or purchase of new capital improvements throughout the District.
North Powerline Road Community Development District Adopted Budget
Capital Reserve Fund

Adopted Budget	Actuals Thru	Projected Next	Total Thru	Adopted Budget	
Description	FY2022	6/30/22	3 Months	9/30/22	FY2023	

Revenues					
Transfer In - General Fund	$	5,000	$	-	$	5,000	$	5,000	$	74,200	
Carry Forward Surplus	$	-	$	-	$	-	$	-	$	5,000	
Total Revenues	$	5,000	$	-	$	5,000	$	5,000	$	79,200	

Expenditures					
Capital Expenditures	$	-	$	-	$	-	$	-	$	-	
Total Expenditures	$	-	$	-	$	-	$	-	$	-	
					
Net Change in Fund Balance	$	5,000	$	-	$	5,000	$	5,000	$	79,200	
North Powerline Road Community Development District Adopted Budget
Series 2020 Debt Service Fund

Adopted Budget
Description	FY2022	Actuals Thru 6/30/22	Projected Next
3 Months	Total Thru 9/30/22	Adopted Budget FY2023							

Revenues											
Assessments - Tax Roll	$	357,687	$	358,904	$	-	$	358,904	$	711,117							
Assessments - Direct Bill	$	356,049	$	-	$	-	$	-	$	-	
Assessments - Lot Closings	$	-	$	356,148	$	-	$	356,148	$	-							
Assessments - Prepayments	$	-	$	21,501	$	-	$	21,501	$	-							
Interest	$	-	$	182	$	-	$	182	$	-							
Carry Forward Surplus	$	232,926	$	589,814	$	-	$	589,814	$	233,810							
Total Revenues	$	946,662	$  1,326,550	$	-	$  1,326,550	$	944,927							

Expenditures											
Interest Expense - 11/1	$	232,922	$	232,922	$	-	$	232,922	$	229,241							
Principal Expense - 5/1	$	250,000	$	250,000	$	-	$	250,000	$	255,000							
Special Call - 5/1	$	-	$	20,000	$	-	$	20,000	$	-							
Interest Expense - 5/1	$	232,922	$	232,922	$	-	$	232,922	$	229,241							
Total Expenditures	$	715,844	$	735,844	$	-	$	735,844	$	713,481							

Other Financing Uses											
Transfer Out	$	-	$	356,896	$	-	$	356,896	$	-							
Total Other Financing Uses	$	-	$	356,896	$	-	$	356,896	$	-							
											
Net Change in Fund Balance	$	230,818	$	233,810	$	-	$	233,810	$	231,446							

Interest Expense 11/1/23	 $	225,894 
Total	$	225,894

Maximum Annual	Net Assessment Per	Gross Assessment
Product	Assessable Units	Debt Service	Unit	Per Unit						
Single Family - Phase 1	295	$	357,687	$1,212	$1,304	
Single Family - Phase 2	270	$	353,431	$1,309	$1,408	
	565	$	711,117			
North Powerline Road Community Development District Series 2020 Special Assessment Bonds Amortization Schedule

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

North Powerline Road Community Development District Adopted Budget
Series 2022 Debt Service Fund

Adopted Budget	Actuals Thru	Projected Next	Total Thru	Adopted Budget	
Description	FY2022	6/30/22	3 Months	9/30/22	FY2023	

Revenues				
Assessments	$	-	$	-	$	-	$	-	$	758,588			
Carry Forward Surplus	$	-	$	-	$	-	$	-	$	239,566			
Total Revenues	$	-	$	-	$	-	$	-	$	998,153			

Expenditures				
Interest Expense - 11/1	$	-	$	-	$	-	$	-	$	239,566			
Principal Expense - 5/1	$	-	$	-	$	-	$	-	$	150,000			
Interest Expense - 5/1	$	-	$	-	$	-	$	-	$	303,675			
Total Expenditures	$	-	$	-	$	-	$	-	$	693,241			

Other Financing Sources/(Uses)				
Bond Proceeds	$	-	$	998,153	$	-	$	998,153	$	-	
Total Other Financing Sources/(Uses)	$	-	$	998,153	$	-	$	998,153	$	-	
				
Net Change in Fund Balance	$	-	$	998,153	$	-	$	998,153	$	304,912	

Interest Expense 11/1/23	

 $	300,113 	
		Total	$	300,113	

Maximum Annual	Net Assessment Per	Gross Assessment
Product	Assessable Units	Debt Service	Unit	Per Unit						
Single Family - Phase 3	162	$	346,376	$2,138	$2,299	
Townhomes - Phase 4	300	$	397,545	$1,325	$1,425	
Single Family - Phase 4	8	$	14,666	$1,833	$1,971	
	470	$	758,588			
North Powerline Road Community Development District Series 2022 Special Assessment Bonds Amortization Schedule

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