St. Augustine Lakes Community Development District FY 2024 Adopted Budget August 9, 2023 1-2 General Fund 3-7 General Fund Narrative 8-10 Debt Service Fund 2022 11 Capital Reserve Fund St. Augustine Lakes Community Development District TABLE OF CONTENTS St. Augustine Lakes CDD Community Development District General Fund ADOPTED ACTUAL PROJECTED TOTAL ADOPTED BUDGET YTD NEXT PROJECTED BUDGET FY 2023 6/30/23 3 MONTHS 9/30/23 FY 2024 Revenues Assessments $319,224 $319,224 $0 $319,224 $319,224 Facility Income $0 $0 $0 $0 $0 Interest / Miscellaneous $0 $0 $0 $0 $0 Total Revenues $319,224 $319,224 $0 $319,224 $319,224 Expenditures Administrative Supervisors Fees $9,000 $6,400 $3,000 $9,400 $12,000 FICA Expense $689 $490 $230 $719 $918 Engineering $9,000 $2,498 $6,503 $9,000 $9,000 Attorney $18,750 $4,812 $5,269 $10,081 $18,750 Arbitrage $600 $0 $0 $0 $600 Assessment Administration $2,500 $0 $0 $0 $2,500 Dissemination Agent $2,500 $1,458 $1,167 $2,625 $2,500 Annual Audit $3,110 $0 $3,110 $3,110 $3,110 Trustee Fees $4,000 $0 $4,000 $4,000 $4,000 Management Fees $47,250 $35,438 $11,813 $47,250 $50,085 Information Technology $1,800 $1,350 $450 $1,800 $1,908 Website Maintenance $1,200 $2,650 $300 $2,950 $1,272 Telephone $375 $48 $144 $192 $375 Postage $750 $106 $195 $301 $750 Insurance $5,000 $5,000 $0 $5,000 $5,000 Printing & Binding $900 $252 $248 $500 $1,200 Legal Advertising $10,000 $394 $919 $1,313 $3,431 Other Current Charges $1,200 $96 $75 $171 $1,200 Office Supplies $450 $8 $30 $38 $450 Dues, Licenses & Subscriptions $150 $175 $0 $175 $175 Administrative Expenditures $119,224 $61,175 $37,450 $98,625 $119,224 Amenity Center Utilities $0 $0 $0 $0 $0 Security $0 $0 $0 $0 $0 Facility Management $0 $0 $0 $0 $0 Pool Maintenance $0 $0 $0 $0 $0 Pool Chemicals $0 $0 $0 $0 $0 Pool Permits $0 $0 $0 $0 $0 Janitorial $0 $0 $0 $0 $0 Repairs & Maintenance $0 $0 $0 $0 $0 Special Events $0 $0 $0 $0 $0 Insurance - Property $0 $0 $0 $0 $0 Office Supplies $0 $0 $0 $0 $0 Amenity Center Expenditures $0 $0 $0 $0 $0 1 St. Augustine Lakes CDD Community Development District General Fund ADOPTED ACTUAL PROJECTED TOTAL ADOPTED BUDGET YTD NEXT PROJECTED BUDGET FY 2023 6/30/23 3 MONTHS 9/30/23 FY 2024 Grounds Maintenance Field Mgmt / Admin $0 $4,500 $4,500 $9,000 $18,000 Landscape Maintenance $150,000 $0 $0 $0 $81,250 Lake Maintenance $12,000 $0 $0 $0 $12,000 Wetland Mitigation $0 $0 $0 $0 $13,000 Grounds Maintenance $10,000 $0 $0 $0 $10,000 Reclaim Water $12,000 $0 $0 $0 $12,000 Electric $10,000 $0 $0 $0 $10,000 Miscellaneous $6,000 $0 $0 $0 $6,000 Holiday Decorations $0 $0 $0 $0 $15,000 Capital Reserve $0 $0 $0 $0 $22,750 Grounds Maintenance Expenditures $200,000 $4,500 $4,500 $9,000 $200,000 TOTAL EXPENDITURES $319,224 $65,675 $41,950 $107,625 $319,224 Excess Revenues/(Expenditures) $0 $253,549 ($41,950) $211,599 $0 Net Assessments $319,224 Add: Discounts and Collections (6%) $20,366 Gross Assessments $339,590 Assessable Units 426 Net Per Unit Assessment $749.35 Gross Per Unit Assessment $797.16 2 St. Augustine Lakes Community Development District General Fund Budget REVENUES: Assessments The District will direct bill assessments to fund all General Fund Expenditures for the Fiscal Year. EXPENDITURES: Administrative: S$Cu4hp,a8ep0rt0vei rsp o1err9s 0 yF,e eTaerhs ep eF rl osruipdear Svtiasoturt feosr, athlleo wtims eea dcehv Booteadr dto m Deimstbriecrt tbou rseinceesivse a n$2d0 m0e peetrin mgse. e ting not to exceed FSRuIeCppAer erEvsxeipsnoetnrsss etc hhee cEkms. ployer’s share of Social Security and Medicare taxes withheld from the Board of Engineering aDtotemnidnaionnc eE anngdi npereerpinarga tGioronu fpo r Imnco nwthillly b beo aprrdo vmideeintign ggse,n reervaile wen ignivnoeiecreisn, ge tsce. r vices to the District, e.g., Attorney Tcporhenept raDaricasttteirodicn tt o’sf o prlre omgvaoild nceto hsuleynr vsmeiclee ewst. iinllg bs,e r epvrioevwid oe pgeernaetirnagl &le gmala isnetrevniacensc et oc otnhter aDctisst, reictct,. i.Keu. taatkte Rndocakn cLeL Pan ids Arbitrage AThssee sDsimsternictt R iesv erneuqeu iBreodn dtso. annually have an arbitrage rebate calculation on the District's Special Assessment Administration Tsehrev iDceisst troic pt’rse paasrsee sassmseesnstm reonltl raodllms itnoi sdtirsatrtiioctn p, rGoopveerrtny mowenntearls .M anagement Service, LLC, will provide Dissemination Agent wGThohveic eDhrin srmterleiacnttt eiassl rMteoqa unaidargdeeidtm iboeynn atthl Sere eSrpevocicuretrsiint LygL aCrne. dq uEixrcehmaenngtes C foomr munis-sriaotne dto b coonmdp ilyss wueitsh aRnudle i 1s 5c(ocn)(t2ra)-c1te2d(b w)(i5t)h, Annual Audit PTuhbe lDici sAtcrcicotu inst rinegq uFiirremd. a Tnhneu Dalilsyt rtioc tc ownildl uccotn atrna acut dwiitt ho fl iictse nfisneadn CcPiaAl rfiercmor tdos p brye paanr eIn tdheep aennndueanlt a Cuedritti.f ied 3 St. Augustine Lakes Community Development District General Fund Budget Trustee Fees The District issued Special Assessment Revenue Bonds Series 2022 which will be BDNisYtr iMcte. llon. The amount of the trustee fees is based on the agreement between h BelNdY w Mitehl lao ntr uasntde et haet Management Fees Tachceo uDnitsitnrgic atn dh aasd mcoinnitsrtarcatt ivwei sther vGicoevse rans mpaerntt aolf aM maannaaggeemmeennt t Saegrrveiecmese nLt.L C to receive management, Information Technology GRcfoooernpv fferreerarnsueemndnc etpisnnr tgcoao tsles eMctrstvai roincenael,ag sate, ecmcdclooe tunuodtn t Sthsietneor gvDr aisicgsoetefsrt siwLcetLar’rCsve i.i c,n etfaso bralmnedtas ts ifeoornrv semyress,te eptmionssgi,st iw, vAehd ipcoahby ei ni, mcMlpuiclderemo bseounfttt aaOtrifeof innc eoa,tn elditm cp. irptoergdor vatiomd evmdid ibneoyg Website Maintenance sabRecaecccpuokrrruedipstayesn n, acetnestc d .wt h fiietrh ec wCoahsltals p mtaeasris no1tce8ina9at, enFdcl eow,r iuidtphad Samttaeotsnu, itdteoosrc.i unTmgh eeasnnetd us epmrlvoaiiacndetssa, i nihnioncslgut idntehg esa inDtedi s pdtreoirmcfto’asri mnw arenebncseei wtaeas slcser,s ewsamteebedsn ititsne, Telephone Telephone conference costs for District meetings, workshops and committee meetings. Postage Mailing of agenda packages, overnight deliveries, correspondence, etc. Insurance TAhlleia nDciest. r FicItA’s s pGeecniearliazle sL iianb pilriotyv id&i nPgu ibnlsicu rOanffcicei aclosv eLriaabgeil ittoy gIonvseurrnamnceen tpaol laicgye nicsi ews.i t h Florida Insurance Printing & Binding ePnrivnetlionpge asn, edt cB. inding agenda packages for board meetings, printing of computerized checks, stationary, Legal Advertising rTehqeu Desist tfroirc tp irso preoqsaulisr eedtc t. oin a ad nveerwtisspea pvaerri oofu gs ennoetriacle csi rfocur lamtioonnt.h l y Board meetings, public hearings, and Other Current Charges dEustriimnga ttehde byaenakr. charges, amortization schedules fees and any other miscellaneous expenses that incurred 4 St. Augustine Lakes Community Development District General Fund Budget Office Supplies Miscellaneous office supplies. Dues, Licenses & Subscriptions The District is required to pay an annual fee to the Department of Economic Opportunity the only expense under this category for the District. for $175. This is Amenity Center: Phone/Internet/Cable The District will provide internet & cable television services for the Amenity Center with service provider. Electric The cost of electric associated with the Recreation Facility. Water/Irrigation Water, sewer, and irrigation systems cost for the district. Gas The District will contract with vendor to provide propane delivery for amenity center use. Trash Removal The District will contract with vendor to provide trash pickup for the amenity center dumpster. Security Monitoring The District will contract with vendor to provide security monitoring for the Amenity Center. Access Cards Represents the estimated cost for access cards purchased by the District’s Amenity Center. Facility Management Cost to provide management services for the Amenity Center. Pool Attendants pTohoel .D istrict will contract to provide pool attendants and lifeguards during the operating season for the Field Management and Admin aTmhee Dniitsyt r&ic pt wooilll f caocniltitriaecst, floark eo nmsaitien ftieenlda nmcea,n eatgce. ment of contracts for District services such as landscaping, 5 St. Augustine Lakes Community Development District General Fund Budget Pool Maintenance The estimated amount based on proposed contract to provide maintenance swimming pool. of the Amenity Center Pool Chemicals sTwheim emstiimnga pteodo la. mount based on proposed contract to provide chemicals to maintain the Amenity Center Janitorial TAhlseo einstcilmudaetesd p aumrcohuanset sb oafs ejadn oitno rpiraol psuopsepdli ecso.n tract to provide janitorial services for the Amenity Center. Facility Maintenance Tmhaein teesntiamnacete fdo r atmheo Aunmte nbiatsye Cde notne r.p roposed contract with vendor to provide routine repairs and Repair & Maintenance Regular maintenance and replacement cost incurred by the Amenity Center of the District. Maintenance Reserves EAsmtiemnaittye dC ecnotsetr toof tmhea iDnitsatirnic te.x cess reserves for future unexpected maintenance cost incurred by the New Capital Projects Represents any Capital expenditures the District may need to purchase furniture or equipment. Special Events YReeaprr.e sents estimated costs for the District to host special events for the community throughout the Fiscal Holiday Decorations Represents estimated costs for the District to decorate the amenity center throughout the Fiscal Year. Fitness Center Repairs/Supplies pRreepvreensetanttisv ee mstaiminatteenda nccoes ctso nftorra ctth. e Fitness Center repairs of equipment, purchase of supplies, and Office Supplies Represents estimated cost for office supplies for the Amenity Center. ASCAP/BMI Licenses License fee required to broadcast music throughout the amenity center. 6 St. Augustine Lakes Community Development District General Fund Budget Grounds Maintenance: Hydrology Quality/Mitigation Cost to preserve beneficial aquatic plants in the wetland mitigation area and control pest plant populations. nuisance and exotic Landscape Maintenance Cost to maintain the common areas of the District based on a proposed contract with landscape provider. Landscape Contingency Other landscape costs that is not under contract which includes landscape light repairs and replacements. Irrigation Repairs Miscellaneous irrigation repairs and maintenance cost for the District. Lake Maintenance Cost for the maintenance of District lakes based on a contract. Grounds Maintenance Contracted staff for repairs and trash pick-up on District owned property. Pump Repairs Provision for pool pump repair or replacements as needed. Reclaimed water Estimated Reclaimed water Services for the District provided by utility company. Streetlights aEgsrtiememateen fto pr lDuiss tersitcitm satrteedet cliogshtt fionrg fcuoeslt c fhoarr tghees c. ommunity. The amount is based upon the Streetlight Repairs Estimated costs for street lighting and parking lot repairs and replacements. Miscellaneous Any unanticipated and unscheduled maintenance cost to the District. 7 St. Augustine Lakes CDD Debt Service Fund Community Development District Series 2022 ADOPTED ACTUAL PROJECTED TOTAL ADOPTED BUDGET YTD NEXT PROJECTED BUDGET FY 2023 6/30/23 3 MONTHS 9/30/23 FY 2024 Revenues Special Assessments - Direct $190,197 $0 $190,197 $190,197 $480,041 Interest Income $0 $6,938 $5,076 $12,014 $6,007 Carry Forward Surplus* $0 $0 $0 $0 $197,008 Total Revenues $190,197 $6,938 $195,273 $202,211 $683,055 Expenditures Interest -12/15 $0 $0 $0 $0 $190,197 Interest - 6/15 $184,914 $184,914 $0 $184,914 $190,197 Principal - 6/15 $0 $0 $0 $0 $100,000 Total Expenditures $184,914 $184,914 $0 $184,914 $480,394 Other Sources/(Uses) Bond Proceeds $424,934 $424,934 $0 $424,934 $0 Transfer In (Out) $0 ($2,601) $0 ($2,601) $0 Total Other Sources/(Uses) $424,934 $422,333 $0 $422,333 $0 EXCESS REVENUES (EXPENDITURES) $430,217 $244,357 $195,273 $439,630 $202,661 *Reflects excess revenue at fiscal year end less reserve fund balance. 12/15/24 Interest $ 187,847 Type Units Net Per Unit Gross Per Unit 43' Lot 242 $ 1,127 $ 1,200 $ 290,400 53' Lot 184 $ 1,127 $ 1,200 $ 220,800 Less: Discount/Collections $ (31,159) Net Assessments $ 480,041 Date Balance Principal Interest Annual 6/15/23 $ 7,070,000 $ - $ 184,914 12/15/23 $ 7,070,000 $ - $ 190,197 $ 375,111 6/15/24 $ 7,070,000 $ 100,000 $ 190,197 12/15/24 $ 6,970,000 $ - $ 187,847 $ 478,044 6/15/25 $ 6,970,000 $ 105,000 $ 187,847 12/15/25 $ 6,865,000 $ - $ 185,379 $ 478,226 6/15/26 $ 6,865,000 $ 110,000 $ 185,379 12/15/26 $ 6,755,000 $ - $ 182,794 $ 478,174 6/15/27 $ 6,755,000 $ 115,000 $ 182,794 12/15/27 $ 6,640,000 $ - $ 180,092 $ 477,886 6/15/28 $ 6,640,000 $ 120,000 $ 180,092 12/15/28 $ 6,520,000 $ - $ 177,272 $ 477,364 6/15/29 $ 6,520,000 $ 125,000 $ 177,272 12/15/29 $ 6,395,000 $ - $ 174,334 $ 476,606 6/15/30 $ 6,395,000 $ 135,000 $ 174,334 12/15/30 $ 6,260,000 $ - $ 170,706 $ 480,041 6/15/31 $ 6,260,000 $ 140,000 $ 170,706 12/15/31 $ 6,120,000 $ - $ 166,944 $ 477,650 6/15/32 $ 6,120,000 $ 150,000 $ 166,944 12/15/32 $ 5,970,000 $ - $ 162,913 $ 479,856 6/15/33 $ 5,970,000 $ 155,000 $ 162,913 12/15/33 $ 5,815,000 $ - $ 158,747 $ 476,659 6/15/34 $ 5,815,000 $ 165,000 $ 158,747 12/15/34 $ 5,650,000 $ - $ 154,313 $ 478,059 6/15/35 $ 5,650,000 $ 175,000 $ 154,313 12/15/35 $ 5,475,000 $ - $ 149,609 $ 478,922 6/15/36 $ 5,475,000 $ 185,000 $ 149,609 12/15/36 $ 5,290,000 $ - $ 144,638 $ 479,247 6/15/37 $ 5,290,000 $ 195,000 $ 144,638 12/15/37 $ 5,095,000 $ - $ 139,397 $ 479,034 6/15/38 $ 5,095,000 $ 205,000 $ 139,397 12/15/38 $ 4,890,000 $ - $ 133,888 $ 478,284 6/15/39 $ 4,890,000 $ 215,000 $ 133,888 12/15/39 $ 4,675,000 $ - $ 128,109 $ 476,997 6/15/40 $ 4,675,000 $ 230,000 $ 128,109 12/15/40 $ 4,445,000 $ - $ 121,928 $ 480,038 Amortization Schedule St Augustine Lakes Community Development District Series 2022, Special Assessment Revenue Bonds (Term Bonds Due Combined) 9 Date Balance Principal Interest Annual 6/15/41 $ 4,445,000 $ 240,000 $ 121,928 12/15/41 $ 4,205,000 $ - $ 115,478 $ 477,406 6/15/42 $ 4,205,000 $ 255,000 $ 115,478 12/15/42 $ 3,950,000 $ - $ 108,625 $ 479,103 6/15/43 $ 3,950,000 $ 270,000 $ 108,625 12/15/43 $ 3,680,000 $ - $ 101,200 $ 479,825 6/15/44 $ 3,680,000 $ 285,000 $ 101,200 12/15/44 $ 3,395,000 $ - $ 93,363 $ 479,563 6/15/45 $ 3,395,000 $ 300,000 $ 93,363 12/15/45 $ 3,095,000 $ - $ 85,113 $ 478,475 6/15/46 $ 3,095,000 $ 315,000 $ 85,113 12/15/46 $ 2,780,000 $ - $ 76,450 $ 476,563 6/15/47 $ 2,780,000 $ 335,000 $ 76,450 12/15/47 $ 2,445,000 $ - $ 67,238 $ 478,688 6/15/48 $ 2,445,000 $ 355,000 $ 67,238 12/15/48 $ 2,090,000 $ - $ 57,475 $ 479,713 6/15/49 $ 2,090,000 $ 375,000 $ 57,475 12/15/49 $ 1,715,000 $ - $ 47,163 $ 479,638 6/15/50 $ 1,715,000 $ 395,000 $ 47,163 12/15/50 $ 1,320,000 $ - $ 36,300 $ 478,463 6/15/51 $ 1,320,000 $ 415,000 $ 36,300 12/15/51 $ 905,000 $ - $ 24,888 $ 476,188 6/15/52 $ 905,000 $ 440,000 $ 24,888 12/15/52 $ 465,000 $ - $ 12,788 $ 477,675 6/15/53 $ 465,000 $ 465,000 $ 12,788 12/15/53 $ - $ - $ - $ 477,788 Totals $ 7,070,000 $ 7,655,282 $ 14,725,282 Series 2022, Special Assessment Revenue Bonds (Term Bonds Due Combined) Amortization Schedule St Augustine Lakes Community Development District 10 St. Augustine Lakes CDD Community Development District Capital Reserve ADOPTED ACTUAL PROJECTED TOTAL ADOPTED BUDGET YTD NEXT PROJECTED BUDGET FY 2023 6/30/23 3 MONTHS 9/30/23 FY 2024 Revenues Capital Reserve Transfer In $0 $0 $0 $0 $22,750 Interest $0 $0 $0 $0 $0 Total Revenues $0 $0 $0 $0 $22,750 Expenditures Capital Outlay $0 $0 $0 $0 $0 Repair and Replacements $0 $0 $0 $0 $0 Other Current Charges $0 $0 $0 $0 $0 Expenditures $0 $0 $0 $0 $0 Excess Revenues/(Expenditures) $0 $0 $0 $0 $22,750