St. Augustine Lakes
Community Development District Approved Budget
FY2026
June 2, 2025

Presented by:

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Table of Contents

1-2

3-5

6-7

8

	General Fund

	Narratives

	Debt Service Fund Series 2022

	Capital Reserve Fund

9		Assessment Schedule

Adopted	Actuals Thru	Projected Next Projected Thru	Approved Budget				Budget	
Description	FY2025	4/30/25		5 Months		9/30/25	FY 2026	

REVENUES:						
Special Assessments	$	487,454	$	463,619	$	23,821	$	487,440	$	598,420	
Interest income	3,000	5,201	4,000	9,201	6,000	
Carry Forward Surplus	57,000	-	27,301	27,301	-	
TOTAL REVENUES	$	547,454	$	468,820	$	55,122	$	523,942	$  604,420	

EXPENDITURES:						
Administrative						
Supervisor Fees	$	12,000	$	5,600	$	5,000	$	10,600	$	12,000	
FICA Taxes	918	428	383	811	918	
Engineering	9,000	1,780	7,220	9,000	9,000	
Attorney	15,000	2,556	12,444	15,000	15,000	
Annual Audit	3,425	-	3,425	3,425	3,575	
Assessment Administration	2,650	2,650	-	2,650	2,783	
Arbitrage Rebate	450	450	-	450	450	
Dissemination Agent	2,650	1,546	1,104	2,650	2,783	
Software Licensing	1,500	1,500	-	1,500	1,500	
Trustee Fees	5,250	6,188	-	6,188	7,188	
Management Fees	53,090	30,969	22,121	53,090	55,745	
Information Technology	2,022	1,180	843	2,022	2,124	
Website Maintenance	1,348	786	562	1,348	1,416	
Telephone	200	36	164	200	200	
Postage & Delivery	750	541	305	846	850	
Insurance General Liability	5,720	7,064	-	7,064	7,500	
Printing & Binding	500	84	416	500	500	
Legal Advertising	2,500	686	1,814	2,500	2,500	
Other Current Charges	1,200	375	825	1,200	1,200	
Office Supplies	450	3	447	450	450	
Dues, Licenses & Subscriptions	175	175	-	175	175	
TOTAL ADMINISTRATIVE	$	120,799	$	64,597	$	57,071	$	121,668	$  127,854	

Operations & Maintenance						
Amenity Center						
Electric	$	9,000	$	3,762	$	2,250	$	6,012	$	9,000	
Water/Sewer/Irrigation	9,000	2,096	1,575	3,671	9,000	
Security Monitoring	22,000	6,679	4,788	11,467	22,000	
Security Services Patrol	6,000	7,647	6,150	13,797	15,000	
Facility Management	-	-	-	-	-	
Pool Maintenance	15,600	9,100	6,725	15,825	17,905	
Pool Chemicals	6,000	-	-	-	-	
Pool Permits	350	-	350	350	350	
Pool Attendants	36,000	10,252	25,748	36,000	37,412	
Janitorial	4,100	1,800	1,500	3,300	4,100	
Repairs & Maintenance	5,000	1,644	750	2,394	5,000	
Special Events	10,000	-	10,000	10,000	10,000	
Insurance - Property	13,365	12,018	-	12,018	13,365	
TOTAL AMENITY CENTER	$	136,415	$	54,996	$	59,837	$	114,833	$  143,132	

Adopted	Actuals Thru	Projected Next Projected Thru	Approved Budget				Budget	
Description	FY2025	4/30/25		5 Months		9/30/25	FY 2026	

Grounds Maintenance						
Field Mgmt / Admin	$	22,800	$	13,300	$	9,500	$	22,800	$	22,800	
Landscape Maintenance	160,050	93,363	66,688	160,050	160,050	
Landscape Contingency	10,000	17,951	-	17,951	18,000	
Tree Removals	-	23,500	-	23,500	24,000	
Lake Maintenance	14,856	8,666	6,190	14,856	17,800	
Wetland Mitigation	13,000	-	6,500	6,500	13,000	
Grounds Maintenance	10,000	-	5,000	5,000	10,000	
Pet Waste Disposal	5,784	3,374	2,410	5,784	5,784	
Reclaim Water	-	-	-	-	10,000	
Electric	10,000	4,668	5,332	10,000	11,000	
Miscellaneous	6,000	250	5,750	6,000	6,000	
Holiday Decorations	15,000	2,829	12,171	15,000	15,000	
TOTAL GROUNDS MAINTENANCE	$	267,490	$	167,901	$	119,541	$	287,441	$  313,434	
						
TOTAL EXPENDITURES	$	524,704	$	287,494	$	236,448	$	523,942	$  584,420	

Other Sources/(Uses)						
Transfer Out - Capital Reserve	$	(22,750)	$	-	$	-	$	-	$	(20,000)	
TOTAL OTHER SOURCES/(USES)	$	(22,750)	$	-	$	-	$	-	$	(20,000)	
						
EXCESS REVENUES (EXPENDITURES)	$	-	$	181,326	$  (181,326)	$	-	$	-	

REVENUES

Special Assessments
The District will levy a Non-Ad Valorem assessment on all sold and platted parcels within the District in order to pay for the operating expenditures during the Fiscal Year and/or direct bill developers to cover expenses.
Interest
The District earns interest on the monthly average collected balance for each of their investment accounts.

Expenditures - Administrative

Supervisors Fees
Chapter 190 of the Florida Statutes allows for members of the Board of Supervisors to be compensated $200 per meeting in which they attend. The budgeted amount for the fiscal year is based on all supervisors attending meetings.
FICA Taxes
Payroll taxes on Board of Supervisor’s compensation. The budgeted amount for the fiscal year is calculated at 7.65% of the total Board of Supervisor’s payroll expenditures.
Engineering
The District's engineer will provide general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review of invoices, and other specifically requested assignments.
Attorney
The District’s Attorney, will be providing general legal services to the District, i.e., attendance and preparation for monthly Board meetings, review of contracts, review of agreements and resolutions, and other research assigned as directed by the Board of Supervisors and the District Manager.
Annual Audit
The District is required to conduct an annual audit of its financial records by an Independent Certified Public Accounting Firm. The budgeted amount for the fiscal year is based on contracted fees from the previous year engagement plus anticipated increase.
Arbitrage Rebate
The District is required to have an annual arbitrage rebate calculation on the District’s Bonds. The District has contracted with an LLS Tax Solutions 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. The District has entered into a licensing agreement with Disclosure Technical Services, LLC (DTS) for a software program that assist with the electronic reporting requirements under the Continuing Disclosure Agreement(s) for the bond(s) issued by the District.
Software Licensing
The District has entered into a licensing agreement with Disclosure Technical Services, LLC (DTS) for a software program that assist with the electronic reporting requirements under the Continuing Disclosure Agreement(s) for the bond(s) issued by the District.

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, LLC. The budgeted amount for the fiscal year is based on the contracted fees outlined in Exhibit "A" of the Management Agreement.
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, positive pay implementation and programming for fraud protection, accounting software, tablets for meetings, Adobe, Microsoft Office, etc. provided by Governmental Management Services LLC.
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. provided by Governmental Management Services LLC.
Telephone
Actual charges for conference calls.
Postage and Delivery
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.

Expenditures - Administrative (continued)

Insurance General Liability
The District's General Liability & Public Officials Liability Insurance policy is with is with EGIS Insurance Advisors LLC. EGIS Insurance Advisors specialize in providing insurance coverage to governmental agencies. The amount budgeted represents the estimated premium for general liability for the District.
Printing and Binding
Copies used in the preparation of agenda packages, required mailings, notices and other special projects.
Legal Advertising
The District is required to advertise various notices for monthly Board meetings and other public hearings in a newspaper of general circulation.
Other Current Charges
This includes monthly bank charges and any other miscellaneous expenses that incur during the year which includes preparation of amortization schedules.
Due, Licenses & Subscriptions
The District is required to pay an annual fee to the Florida Department of Commerce for $175.

Expenditures – Amenity Center

Utilities
The District will provide internet & cable television services for the Amenity Center with service provider, the cost of electric, gas, water, sewer, irrigation, and trash removal associated with the Recreation Facility.
Security Monitoring
The District will contract with Envera to provide security monitoring for the Amenity Center.
Security
The District will contract with vendor to provide security patrols for the Amenity Center.
Facility Management
Cost to provide management services for the Amenity Center.
Pool Maintenance
The estimated amount based on proposed contract to provide maintenance of the Amenity Center swimming pool. Pool chemicals are included in the contract with C Buss.
Description	Monthly	Annual
C Buss	$1,300	$15,600
Contingency		$192	$2,305 
Total	$1,492	$17,905
Pool Chemicals
The estimated amount based on proposed contract to provide chemicals to maintain the Amenity Center swimming pool.
Pool Permits
Represents Permit Fees paid to the Florida Department of Health for the swimming pool.
Pool Attendants
The District will contracted with vendor to provide pool attendants during the operating season for the pool.
Janitorial
The estimated amount based on proposed contract to provide janitorial services for the Amenity Center. Also includes purchases of janitorial supplies.
Repair & Maintenance
Regular maintenance and replacement cost incurred by the Amenity Center of the District.
Special Events
Represents estimated costs for the District to host special events for the community throughout the Fiscal Year.
Insurance-Property
The District's Property Liability Insurance policy is with EGIS Insurance Advisors LLC. EGIS Insurance Advisors specialize in providing insurance coverage to governmental agencies. The amount budgeted represents the estimated premium for property insurance related to the Amenity Center.

Budget Narrative

Expenditures – Grounds Maintenance

Field Management and Admin
The District has contract with Vesta for onsite field management of contracts for District services such as landscaping, amenity & pool
Contract	Monthly	Annual

Landscape Maintenance

Vesta

$	1,900  $

22,800

Cost to maintain the amenity and common areas of the District based on a proposed contract with Yellowstone Landscape.
Contract	Monthly	Annual

Landscape Contingency

Yellowstone Landscape	$

13,338  $

160,050

Estimated cost of landscape services in addition to the monthly contract.
Lake Maintenance
Cost for the maintenance of District lakes based on a contract with The Lake Doctors Inc.
Contract		Monthly	Annual	
The Lake Doctors Inc	$	1,275	$	15,300	
Grass Carp Restocking			$	2,500	
			$	17,800	
Wetland Mitigation
Cost to preserve beneficial aquatic plants in the wetland mitigation area and control nuisance and exotic pest plant populations.
Grounds Maintenance
Contracted staff for repairs and trash pick-up on District owned property.
Pet Waste Disposal
The District will contract with vendor for two weekly collection of pet waste stations and provide bags for the each pet waste stations.

Reclaimed water
Estimated Reclaimed water Services for the District provided by utility company.
Electric
Estimate for District streetlighting and common area electric for the community. The amount is based upon the agreement plus estimated cost for fuel charges for Florida Power and Lighting.
Vendor Address	Monthly	Annual	
FPL 83 Arcadian Lakes Blvd #Entry Sign	$35	$420	
908 Arcadian Lakes Blvd #LF Sta	$70	$840	
424 Arcadian Lakes Blvd #Pump	$30	$360	
846 Arcadian Lakes Blvd # Pump	$40	$480	
98 Arcadian Lakes Blvd #Pump	$35	$420	
1899 Deer Run Rd #SL LED	$500	$6,000	
Contingency	$123	$1,480	
Total	$833	$10,000	
Miscellaneous
Any unanticipated and unscheduled maintenance cost to the District.
Holiday Decorations
Represents estimated costs for the District to decorate the amenity center and other areas of the District throughout the Fiscal Year.

Capital Reserve
The District has established a maintenance reserve to fund the renewal and replacement of the District’s capital related facilities which will be transferred to Capital Reserve Fund.

Approved Budget
Debt Service Series 2022 Special Assessment Bonds

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Approved Budget	
	Description	FY2025	4/30/25	  5 Months		9/30/25	FY 2026	

REVENUES:							

Special Assessments-On Roll	
$	480,528	
$  455,848	
$	73,528	
$	529,375	
$	480,528	
Interest Earnings	12,000	12,648	6,783	19,431	12,000	
Prepayments	-	15,111				
Carry Forward Surplus (1)	284,710	221,409	-	221,409	248,760	
TOTAL REVENUES	$	777,238	$ 705,016	$	80,310	$  770,215	$	741,288	

EXPENDITURES:						
Interest - 12/15	$	187,847	$  187,847	$	-	$	187,847	$	184,286	
Special Call - 12/15	-	20,000	$	-	20,000	-	
Special Call - 5/1	-	20,000	-	20,000	-	
Interest - 6/15	187,847	-	186,753	186,753	184,286	
Principal - 6/15	105,000	-	105,000	105,000	110,000	
TOTAL EXPENDITURES	$	480,694	$ 227,847	$  291,753	$  519,600	$	478,571	

Other Sources/(Uses)						
Interfund transfer In/(Out)	$	-	$	(1,855)	$	-	$	(1,855)	$	-	
TOTAL OTHER SOURCES/(USES)	$	-	$  (1,855)	$	-	$	(1,855)	$	-	
						
TOTAL EXPENDITURES	$	480,694	$ 229,702	$  291,753	$  521,455	$	478,571	
						
EXCESS REVENUES (EXPENDITURES)	$	296,544	$ 475,314	$ (211,443)	$  248,760	$	262,717	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 12/15/26

$181,700.63

$181,700.63

Series 2022, Special Assessment Revenue Bonds Amortization Schedule
(Term Bonds Due Combined)

Period	Outstanding
Balance	Principal	Interest	Annual Debt
Service	

06/15/25	
6,930,000	
105,000	
186,753		
12/15/25	6,825,000	-	184,286	476,039	
06/15/26	6,825,000	110,000	184,286		
12/15/26	6,715,000	-	181,701	475,986	
06/15/27	6,715,000	115,000	181,701		
12/15/27	6,600,000	-	178,998	475,699	
06/15/28	6,600,000	120,000	178,998		
12/15/28	6,480,000	-	176,178	475,176	
06/15/29	6,480,000	125,000	176,178		
12/15/29	6,355,000	-	173,241	474,419	
06/15/30	6,355,000	135,000	173,241		
12/15/30	6,220,000	-	169,613	477,853	
06/15/31	6,220,000	140,000	169,613		
12/15/31	6,080,000	-	165,850	475,463	
06/15/32	6,080,000	145,000	165,850		
12/15/32	5,935,000	-	161,953	472,803	
06/15/33	5,935,000	155,000	161,953		
12/15/33	5,780,000	-	157,788	474,741	
06/15/34	5,780,000	165,000	157,788		
12/15/34	5,615,000	-	153,353	476,141	
06/15/35	5,615,000	175,000	153,353		
12/15/35	5,440,000	-	148,650	477,003	
06/15/36	5,440,000	185,000	148,650		
12/15/36	5,255,000	-	143,678	477,328	
06/15/37	5,255,000	195,000	143,678		
12/15/37	5,060,000	-	138,438	477,116	
06/15/38	5,060,000	205,000	138,438		
12/15/38	4,855,000	-	132,928	476,366	
06/15/39	4,855,000	215,000	132,928		
12/15/39	4,640,000	-	127,150	475,078	
06/15/40	4,640,000	225,000	127,150		
12/15/40	4,415,000	-	121,103	473,253	
06/15/41	4,415,000	240,000  $	121,103		
12/15/41	4,175,000	-	114,653	475,756	
06/15/42	4,175,000	255,000	114,653		
12/15/42	3,920,000	-	107,800	477,453	
06/15/43	3,920,000	265,000	107,800		
12/15/43	3,655,000	-	100,513	473,313	
06/15/44	3,655,000	280,000	100,513		
12/15/44	3,375,000	-	92,813	473,325	
06/15/45	3,375,000	300,000	92,813		
12/15/45	3,075,000	-	84,563	477,375	
06/15/46	3,075,000	315,000	84,563		
12/15/46	2,760,000	-	75,900	475,463	
06/15/47	2,760,000	335,000	75,900		
12/15/47	2,425,000	-	66,688	477,588	
06/15/48	2,425,000	350,000	66,688		
12/15/48	2,075,000	-	57,063	473,750	
06/15/49	2,075,000	370,000	57,063		
12/15/49	1,705,000	-	46,888	473,950	
06/15/50	1,705,000	390,000	46,888		
12/15/50	1,315,000	-	36,163	473,050	
06/15/51	1,315,000	415,000	36,163		
12/15/51	900,000	-	24,750	475,913	
06/15/52	900,000	440,000	24,750		
12/15/52	460,000	-	12,650	477,400	
06/15/53	460,000	460,000	12,650	472,650	
Totals	$	6,930,000  $	6,857,447	$  13,787,447	

Approved Budget Capital Reserve Fund

	Approved Budget	Actuals Thru	Projected Next	Projected Thru	Approved Budget	
Description	FY2025	4/30/25		5 Months		9/30/25	FY 2026	

REVENUES:						
Interest Income	$	-	$	280	$	(280)	$	-	$	-	
Carry Forward Balance	22,750	22,750	-	22,750	45,500	
TOTAL REVENUES	$	22,750	$	23,030	$	(280)	$	22,750	$	45,500	

EXPENDITURES:						
Capital Outlay	$	-	$	-	$	-	$	-	$	-	
Repair and Replacements	-	-	-	-	-	
Other Current Charges	-	-	-	-	-	
TOTAL EXPENDITURES	$	-	$	-	$	-	$	-	$	-	

Other Sources/(Uses)						
Capital Reserve Funding - Transfer In	$	22,750	$	-	$	22,750	$	22,750	$	20,000	
TOTAL OTHER SOURCES/(USES)	$	22,750	$	-	$	22,750	$	22,750	$	20,000	
						
EXCESS REVENUES (EXPENDITURES)	$	45,500	$	23,030	$	22,470	$	45,500	$	65,500	

St. Augustine Lakes
Community Development District
Non-Ad Valorem Assessments Comparison 2025-2026

Neighborhood	O&M Units	Bonds
2022
Units	Annual Maintenance Assessments	Annual Debt Assessments	Total Assessed Per Unit	
	FY 2026	FY2025	Increase/ (decrease)	FY 2026	FY2025	Increase/ (decrease)	FY 2026	FY2025	Increase/ (decrease)	

43'	
242	
242	
$ 1,494.41	
$ 1,217.26	
$	277.15	
$ 1,200.00	
$ 1,200.00	
$	-	
$ 2,694.41	
$ 2,417.26	
$	277.15	
53'	184	184	$ 1,494.41	$ 1,217.26	$	277.15	$ 1,200.00	$ 1,200.00	$	-	$ 2,694.41	$ 2,417.26	$	277.15	
Total	426	426