Adopted Budget	
Fiscal Year 2024	

Eureka Grove	
Community Development District	

May 19, 2023

Eureka Grove	
Community Development District	

General Fund

Adopted	
Budget	
	FY 2023		

Actual	
thru	
	4/30/2023		

Projected	
Next	
	5 Months		

Total	
Projected at	
	9/30/2023		

Adopted	
Budget	
	FY 2024		

Revenues	
Maintenance Assessments	

 Description	

$63,001	$61,874	$1,100	$62,974	$63,001

Total Revenues		$63,001 		$61,874 		$1,100 		$62,974 		$63,001 

Expenditures

Administrative

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

$4,000	
$550	
$1,500	
$1,000	
$12,000	
$3,700	
$4,000	
$25,200	
$395	
$300	
$6,114	
$1,250	
$1,817	
$1,000	
$175	

$0	
$0	
$875	
$1,000	
$3,225	
$5,200	
$0	
$14,700	
$45	
$6	
$5,842	
$0	
$48	
$583	
$175	

$3,000	
$0	
$625	
$0	
$3,225	
$0	
$5,675	
$10,500	
$150	
$150	
$0	
$500	
$500	
$417	
$0	

$3,000	
$0	
$1,500	
$1,000	
$6,450	
$5,200	
$5,675	
$25,200	
$195	
$156	
$5,842	
$500	
$548	
$1,000	
$175	

$2,000	
$0	
$1,500	
$1,000	
$12,000	
$5,300	
$5,675	
$25,200	
$395	
$300	
$6,114	
$1,000	
$1,342	
$1,000	
$175	

Total Expenditures		$63,001 			$31,699 			$24,742 			$56,441 			$63,001 	
Assigned Fund Balance		$0 			$30,175 			($23,642)			$6,533 			$0 	

	O&M Assessments		
Annual Net	Annual Gross	Annual Gross*	
Land Use	 No. of Units			Per Unit	
Villas	150		$420.00 Less: Discounts/Com		Per Unit	

$442.11

missions (5%)* Net Assessments		Total	

$66,316.50

	-$3,315.83
$63,000.68	
*Amount includes 4% for Discounts and 1% for County Fees

Eureka Grove
Community Development District
GENERAL FUND BUDGET

REVENUES:

Maintenance Assessments

The District will levy a Non-Ad Valorem assessment on all the platted lots within the District to pay all of the operating expenses for the Fiscal Year in accordance with the adopted budget.

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.

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 are held and administered by U.S. Bank as Trustee. This represents the 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.

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.

Eureka Grove
Community Development District
GENERAL FUND BUDGET

Administrative: (continued)

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.

Eureka Grove	
Community Development District	

 	
Debt Service Fund	
Series 2021 Special Assessment Bond	

Adopted	
Budget	
	FY 2023		

Actual	
thru	
	4/30/2023		

Projected	
Next	
	5 Months		

Total	
Projected at	
	9/30/2023		

Adopted	
Budget	
	FY 2024		

 Description	

Revenues	
Interest Income	
Assessments	
Carry Forward Surplus (1)	

$0	
$162,000	
$25,531	

$2,734	
$159,103	
$52,384	

$1,333	
$2,897	
$0	

$4,067	
$162,000	
$52,384	

$0	
$162,000	
$56,753	

Total Revenues		$187,531 		$214,221 		$4,230 		$218,451 		$218,753 

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

Expenditures

$49,263	
$49,263	
$60,000	

$49,263	
$0	
$0	

$0	
$49,953	
$60,000	

$49,263	
$49,953	
$60,000	

$48,573	
$48,573	
$60,000	

	$158,525 		$49,263 		$109,953 		$159,215 		$157,145 

Other Financing Sources/(Uses)

Interfund Transfer In/(Out)	$0	($1,484)	($1,000)	($2,484)	$0	
Total Other Financing Sources/(Uses	$0 			($1,484)			($1,000)			($2,484)			$0 	

	$29,006 			$163,475 			($104,722)			$56,753 			$61,607 	
(1) Carry forward is net of Reserve Fund requirement.						11/1/24 Interest		$47,883	

Debt Service Assessments	
Annual Net	Annual Gross	Annual Gross*	
Land Use	 No. of Units			Per Unit	

Villas	150		$	1,080.00 Less: Discounts/Com		Per Unit	

$	1,136.84
missions (5%)* Net Assessments		Total	

$ 170,526.00
 $	(8,526.30)
$ 161,999.70	
*Amount includes 4% for Discounts and 1% for County Fees

Eureka Grove	
Community Development District	

 	
Series 2021 Special Assessment Bond	
Amortization Schedule	

PRINCIPAL	
	BALANCE		

	DATE		COUPON 	INTEREST			PRINCIPAL			TOTAL	

1-Nov-21	$2,850,000.00	2.300%	$25,531.28	$0.00	$25,531.28	
1-May-22	$2,850,000.00	2.300%	$49,952.50	$60,000.00	
1-Nov-22	$2,790,000.00	2.300%	$49,262.50	$0.00	$159,215.00	
1-May-23	$2,790,000.00	2.300%	$49,262.50	$60,000.00	
1-Nov-23	$2,730,000.00	2.300%	$48,572.50	$0.00	$157,835.00	
1-May-24	$2,730,000.00	2.300%	$48,572.50	$60,000.00	
1-Nov-24	$2,670,000.00	2.300%	$47,882.50	$0.00	$156,455.00	
1-May-25	$2,670,000.00	2.300%	$47,882.50	$65,000.00	
1-Nov-25	$2,605,000.00	2.300%	$47,135.00	$0.00	$160,017.50	
1-May-26	$2,605,000.00	2.300%	$47,135.00	$65,000.00	
1-Nov-26	$2,540,000.00	2.300%	$46,387.50	$0.00	$158,522.50	
1-May-27	$2,540,000.00	2.750%	$46,387.50	$65,000.00	
1-Nov-27	$2,475,000.00	2.750%	$45,493.75	$0.00	$156,881.25	
1-May-28	$2,475,000.00	2.750%	$45,493.75	$70,000.00	
1-Nov-28	$2,405,000.00	2.750%	$44,531.25	$0.00	$160,025.00	
1-May-29	$2,405,000.00	2.750%	$44,531.25	$70,000.00	
1-Nov-29	$2,335,000.00	2.750%	$43,568.75	$0.00	$158,100.00	
1-May-30	$2,335,000.00	2.750%	$43,568.75	$70,000.00	
1-Nov-30	$2,265,000.00	2.750%	$42,606.25	$0.00	$156,175.00	
1-May-31	$2,265,000.00	2.750%	$42,606.25	$75,000.00	
1-Nov-31	$2,190,000.00	2.750%	$41,575.00	$0.00	$159,181.25	
1-May-32	$2,190,000.00	3.500%	$41,575.00	$75,000.00	
1-Nov-32	$2,115,000.00	3.500%	$40,262.50	$0.00	$156,837.50	
1-May-33	$2,115,000.00	3.500%	$40,262.50	$80,000.00	
1-Nov-33	$2,035,000.00	3.500%	$38,862.50	$0.00	$159,125.00	
1-May-34	$2,035,000.00	3.500%	$38,862.50	$80,000.00	
1-Nov-34	$1,955,000.00	3.500%	$37,462.50	$0.00	$156,325.00	
1-May-35	$1,955,000.00	3.500%	$37,462.50	$85,000.00	
1-Nov-35	$1,870,000.00	3.500%	$35,975.00	$0.00	$158,437.50	
1-May-36	$1,870,000.00	3.500%	$35,975.00	$85,000.00	
1-Nov-36	$1,785,000.00	3.500%	$34,487.50	$0.00	$155,462.50	
1-May-37	$1,785,000.00	3.500%	$34,487.50	$90,000.00	
1-Nov-37	$1,695,000.00	3.500%	$32,912.50	$0.00	$157,400.00	
1-May-38	$1,695,000.00	3.500%	$32,912.50	$95,000.00	
1-Nov-38	$1,600,000.00	3.500%	$31,250.00	$0.00	$159,162.50	
1-May-39	$1,600,000.00	3.500%	$31,250.00	$95,000.00	
1-Nov-39	$1,505,000.00	3.500%	$29,587.50	$0.00	$155,837.50	
1-May-40	$1,505,000.00	3.500%	$29,587.50	$100,000.00	
1-Nov-40	$1,405,000.00	3.500%	$27,837.50	$0.00	$157,425.00	
1-May-41	$1,405,000.00	3.500%	$27,837.50	$105,000.00	
1-Nov-41	$1,300,000.00	4.000%	$26,000.00	$0.00	$158,837.50	
1-May-42	$1,300,000.00	4.000%	$26,000.00	$110,000.00	
1-Nov-42	$1,190,000.00	4.000%	$23,800.00	$0.00	$159,800.00	
1-May-43	$1,190,000.00	4.000%	$23,800.00	$115,000.00	
1-Nov-43	$1,075,000.00	4.000%	$21,500.00	$0.00	$160,300.00	
1-May-44	$1,075,000.00	4.000%	$21,500.00	$115,000.00	
1-Nov-44	$960,000.00	4.000%	$19,200.00	$0.00	$155,700.00	
1-May-45	$960,000.00	4.000%	$19,200.00	$120,000.00	
1-Nov-45	$840,000.00	4.000%	$16,800.00	$0.00	$156,000.00	
1-May-46	$840,000.00	4.000%	$16,800.00	$125,000.00	
1-Nov-46	$715,000.00	4.000%	$14,300.00	$0.00	$156,100.00	
1-May-47	$715,000.00	4.000%	$14,300.00	$130,000.00	
1-Nov-47	$585,000.00	4.000%	$11,700.00	$0.00	$156,000.00	
1-May-48	$585,000.00	4.000%	$11,700.00	$135,000.00	
1-Nov-48	$450,000.00	4.000%	$9,000.00	$0.00	$155,700.00	
1-May-49	$450,000.00	4.000%	$9,000.00	$145,000.00	
1-Nov-49	$305,000.00	4.000%	$6,100.00	$0.00	$160,100.00	
1-May-50	$305,000.00	4.000%	$6,100.00	$150,000.00	
1-Nov-50	$155,000.00	4.000%	$3,100.00	$0.00	$159,200.00	
1-May-51	$155,000.00	4.000%	$3,100.00	$155,000.00	$158,100.00	
	Total			$1,909,788.78		$2,850,000.00		$4,759,788.78

Page 5