Adopted Budget
Fiscal Year 2022

Eureka Grove Community Development District

August 20, 2021

Eureka Grove
Community Development District

General Fund

Adopted Budget
 	FY 2021	

Actual thru
 	7/31/2021	

Projected Next
 	2 Months	

Total Projected at
 	9/30/2021	

Adopted Budget
 	FY 2022	

 Description	

Revenues

Developer Contributions/Assessments

$60,320

$37,456

$8,734

$46,190

$63,001

Total Revenues

 	$60,320 

 	$37,456 

 	$8,734 

 	$46,190 

 	$63,001 

Expenditures

Administrative

Engineering Arbitrage Dissemination Assessment Roll Attorney
Annual Audit Trustee Fees Management Fees Postage
Printing & Binding Insurance
Legal Advertising Other Current Charges Website Admin
Dues, Licenses & Subscriptions

$4,000
$1,200
$1,500
$1,000
$12,000
$5,000
$3,000
$24,000
$395
$300
$5,000
$1,250
$500
$1,000
$175

$0
$0
$0
$0
$5,320
$0
$0
$20,000
$0
$0
$5,251
$163
$382
$833
$175

$2,000
$0
$0
$0
$1,773
$0
$0
$4,000
$150
$150
$0
$750
$76
$167
$0

$2,000
$0
$0
$0
$7,093
$0
$0
$24,000
$150
$150
$5,251
$913
$458
$1,000
$175

$4,000
$550
$1,500
$1,000
$12,000
$5,000
$3,000
$24,000
$395
$300
$5,776
$1,250
$3,055
$1,000
$175

Total Expenses

 	$60,320 

 	$32,124 

 	$9,066 

 	$41,190 

 	$63,001 

Assigned Fund Balance

 	$0 

 	$5,333 

 	($333)

 	$5,000 

 	$0 

Page 1

Annual Net		Annual Gross O&M Assessment	O&M  Assessment
Land Use	 No. of Units		 	Per Unit		 	Per Unit	
Villas	150		$420.00	$442.11 Less: Discounts/Commissions (5%)
*Amount includes 4% for Discounts and 1% for County Fees

Annual Gross* O&M Assessment Total

$66,316.50

-$3,315.83

$63,000.68

Eureka Grove
Community Development District

GENERAL FUND BUDGET

REVENUES:

Developer Contributions

It is presently anticipated that the District will enter into a Funding Agreement with the Developer to Fund all General Fund expenditures for the Fiscal Year.

EXPENDITURES:

Administrative:

Engineering Fees

The District's engineer 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 have an annual arbitrage rebate calculation on the District’s Bonds. The District will contract with an independent auditing firm to perform the calculations.

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. GMS-SF, LLC will oversee the dissemination reporting.

Attorney Fees

The District's legal counsel 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.

Trustee Fees

The District bonds will be held and administered by a Trustee. This represents the Trustee annual fee.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services – South Florida, LLC.

Website Administration

Per Chapter 2014-22, Laws of Florida, all Districts must have a website to provide detailed information on the CDD as well as links to useful websites regarding Compliance issues. This website will be maintained by GMS-SF, LLC and updated monthly.

Postage

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

Page 2

Eureka Grove
Community Development District

GENERAL FUND BUDGET

Administrative: (continued)

Printing & Binding

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

Insurance

The District's General Liability & Public Officials Liability Insurance policy is with a qualified entity that specializes in providing insurance coverage to governmental agencies. The amount is based upon similar Community Development Districts.

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 that incurred during the year.

Dues, Licenses & Subscriptions

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

Page 3

Eureka Grove
Community Development District

Debt Service Fund
Series 2021 Special Assessment Bond

Adopted Budget
 	FY 2021	

Actual thru
 	7/31/2021	

Projected Next
 	2 Months	

Total Projected at
 	9/30/2021	

Adopted Budget
 	FY 2022	

 Description	

Revenues

Interest Income Assessments
Carry Forward Surplus (1)

$0
$0
$0

$0
$0
$0

$0
$0
$0

$0
$0
$0

$0
$162,000
$25,531

Total Revenues

 	$0 

 	$0 

 	$0 

 	$0 

 	$187,531 

Expenditures

Series 2021 Interest 11/01 Interest 05/01 Principal 05/01

$0
$0
$0

$0
$0
$0

$0
$0
$0

$0
$0
$0

$25,531
$49,953
$60,000

Total Expenditures

 	$0 

 	$0 

 	$0 

 	$0 

 	$135,484 

Other Financing Sources/(Uses)

Bond Proceeds

$105,681

$105,681

$0

$105,681

$0

Total Other Financing Sources/(Uses) 	$105,681 

 	$105,681 

 	$0 

 	$105,681 

 	$0 

EXCESS REVENUES (2)

 	$105,681 

$105,681

$0

$105,681

$52,047

(1) Carry forward is net of Reserve Fund requirement.
(2) Capital Interest is funded through 11/1/21

11/1/22 Interest

$

49,263

Page 4

Annual Net		Annual Gross Debt Assessment	Debt Assessment
Land Use	 No. of Units		 	Per Unit		 	Per Unit	

Villas	150	$1,080.00	$1,136.84
Less:  Discounts/Commissions (5%)
*Amount includes 4% for Discounts and 1% for County Fees

Annual Gross* Debt Assessment Total

$170,526.00
-$8,526.30

$	161,999.70

Eureka Grove
Community Development District

Series 2021 Special Assessment Bond
Amortization Schedule

PRINCIPAL
 	BALANCE	

 	DATE	

 	INTEREST	

 	PRINCIPAL	

 	TOTAL	

1-Nov-22
1-May-23
1-Nov-23
1-May-24
1-Nov-24
1-May-25
1-Nov-25
1-May-26
1-Nov-26
1-May-27
1-Nov-27
1-May-28
1-Nov-28
1-May-29
1-Nov-29
1-May-30
1-Nov-30
1-May-31
1-Nov-31
1-May-32
1-Nov-32
1-May-33
1-Nov-33
1-May-34
1-Nov-34
1-May-35
1-Nov-35
1-May-36
1-Nov-36
1-May-37
1-Nov-37
1-May-38
1-Nov-38
1-May-39
1-Nov-39
1-May-40
1-Nov-40
1-May-41
1-Nov-41
1-May-42
1-Nov-42
1-May-43
1-Nov-43
1-May-44
1-Nov-44
1-May-45
1-Nov-45
1-May-46
1-Nov-46
1-May-47
1-Nov-47
1-May-48
1-Nov-48
1-May-49
1-Nov-49
1-May-50
1-Nov-50
1-May-51

$2,790,000.00
$2,790,000.00
$2,730,000.00
$2,730,000.00
$2,670,000.00
$2,670,000.00
$2,605,000.00
$2,605,000.00
$2,540,000.00
$2,540,000.00
$2,475,000.00
$2,475,000.00
$2,405,000.00
$2,405,000.00
$2,335,000.00
$2,335,000.00
$2,265,000.00
$2,265,000.00
$2,190,000.00
$2,190,000.00
$2,115,000.00
$2,115,000.00
$2,035,000.00
$2,035,000.00
$1,955,000.00
$1,955,000.00
$1,870,000.00
$1,870,000.00
$1,785,000.00
$1,785,000.00
$1,695,000.00
$1,695,000.00
$1,600,000.00
$1,600,000.00
$1,505,000.00
$1,505,000.00
$1,405,000.00
$1,405,000.00
$1,300,000.00
$1,300,000.00
$1,190,000.00
$1,190,000.00
$1,075,000.00
$1,075,000.00
$960,000.00
$960,000.00
$840,000.00
$840,000.00
$715,000.00
$715,000.00
$585,000.00
$585,000.00
$450,000.00
$450,000.00
$305,000.00
$305,000.00
$155,000.00
$155,000.00

$49,262.50
$49,262.50
$48,572.50
$48,572.50
$47,882.50
$47,882.50
$47,135.00
$47,135.00
$46,387.50
$46,387.50
$45,493.75
$45,493.75
$44,531.25
$44,531.25
$43,568.75
$43,568.75
$42,606.25
$42,606.25
$41,575.00
$41,575.00
$40,262.50
$40,262.50
$38,862.50
$38,862.50
$37,462.50
$37,462.50
$35,975.00
$35,975.00
$34,487.50
$34,487.50
$32,912.50
$32,912.50
$31,250.00
$31,250.00
$29,587.50
$29,587.50
$27,837.50
$27,837.50
$26,000.00
$26,000.00
$23,800.00
$23,800.00
$21,500.00
$21,500.00
$19,200.00
$19,200.00
$16,800.00
$16,800.00
$14,300.00
$14,300.00
$11,700.00
$11,700.00
$9,000.00
$9,000.00
$6,100.00
$6,100.00
$3,100.00
$3,100.00

$0.00
$60,000.00
$0.00
$60,000.00
$0.00
$65,000.00
$0.00
$65,000.00
$0.00
$65,000.00
$0.00
$70,000.00
$0.00
$70,000.00
$0.00
$70,000.00
$0.00
$75,000.00
$0.00
$75,000.00
$0.00
$80,000.00
$0.00
$80,000.00
$0.00
$85,000.00
$0.00
$85,000.00
$0.00
$90,000.00
$0.00
$95,000.00
$0.00
$95,000.00
$0.00
$100,000.00
$0.00
$105,000.00
$0.00
$110,000.00
$0.00
$115,000.00
$0.00
$115,000.00
$0.00
$120,000.00
$0.00
$125,000.00
$0.00
$130,000.00
$0.00
$135,000.00
$0.00
$145,000.00
$0.00
$150,000.00
$0.00
$155,000.00

$158,525.00

$157,145.00

$160,765.00

$159,270.00

$157,775.00

$160,987.50

$159,062.50

$157,137.50

$160,212.50

$158,150.00

$160,525.00

$157,725.00

$159,925.00

$156,950.00

$158,975.00

$160,825.00

$157,500.00

$159,175.00

$160,675.00

$162,000.00

$162,600.00

$158,000.00

$158,400.00

$158,600.00

$158,600.00

$158,400.00

$163,000.00

$162,200.00

$161,200.00

 	$1,909,788.78

 	$2,850,000.00

 	$4,759,788.78

Page 5

1-Nov-21	$2,850,000.00	$25,531.28	$0.00
1-May-22	$2,850,000.00	$49,952.50	$60,000.00	$135,483.78