Eden Hills
Community Development District

Adopted Budget
FY2022

Table of Contents

1-2

3-7

8
 	General Fund

 	General Fund Narrative

 	Series 2020 Debt Service Fund

9-10	 	Series 2020 Amortization Schedule

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2021	6/30/21	3 Months	9/30/21	FY2022	

Revenues

Assessments - Tax Roll	$	-	$	-	$	-	$	-	$	106,500				
Developer Contributions	$	184,965	$	60,000	$	60,381	$	120,381	$	217,767	
Boundary Amendment Contributions	$	-	$	7,934	$	4,247	$	12,182	$	-	
Total Revenues	$	184,965	$	67,934	$	64,628	$	132,563	$	324,267	

Expenditures						
Administrative
Supervisor Fees	
$	12,000	
$	3,600	
$	3,000	
$	6,600	
$	12,000	
Engineering	$	20,000	$	-	$	5,000	$	5,000	$	20,000	
Attorney	$	25,000	$	9,572	$	15,428	$	25,000	$	30,000	
Annual Audit	$	3,000	$	2,875	$	2,875	$	5,750	$	7,250	
Assessment Administration	$	5,000	$	-	$	-	$	-	$	5,000	
Arbitrage	$	650	$	-	$	450	$	450	$	900	
Dissemination	$	5,000	$	2,500	$	1,250	$	3,750	$	6,000	
Trustee Fees	$	3,550	$	-	$	3,550	$	3,550	$	7,100	
Management Fees	$	35,000	$	26,250	$	8,750	$	35,000	$	36,050	
Information Technology	$	1,410	$	900	$	353	$	1,253	$	1,800	
Website Technology	$	940	$	-	$	235	$	235	$	1,200	
Telephone	$	250	$	7	$	63	$	69	$	250	
Postage & Delivery	$	850	$	47	$	213	$	259	$	850	
Insurance	$	5,000	$	5,000	$	-	$	5,000	$	5,500	
Printing & Binding	$	1,000	$	23	$	250	$	273	$	1,000	
Legal Advertising	$	10,000	$	3,162	$	2,500	$	5,662	$	10,000	
Other Current Charges	$	1,000	$	934	$	250	$	1,184	$	2,800	
Boundary Amendment Expenses	$	-	$	12,182	$	-	$	12,182	$	-	
Office Supplies	$	500	$	14	$	125	$	139	$	500	
Travel Per Diem	$	550	$	-	$	138	$	138	$	550	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total Administrative	$	130,875	$	67,240	$	44,428	$	111,668	$	148,925	

Operations & Maintenance
Field Services
Property Insurance	

$	5,000	

$	-	

$	5,000	

$	5,000	

$	12,000	
Field Management	$	10,000	$	-	$	1,875	$	1,875	$	15,000	
Landscape Maintenance	$	18,640	$	-	$	4,660	$	4,660	$	40,500	
Landscape Replacement	$	2,000	$	-	$	500	$	500	$	7,500	
Streetlights	$	8,400	$	-	$	2,100	$	2,100	$	8,000	
Electric	$	1,500	$	-	$	375	$	375	$	20,000	
Water & Sewer	$	700	$	-	$	175	$	175	$	12,000	
Sidewalk & Asphalt Maintenance	$	350	$	-	$	88	$	88	$	500	
Irrigation Repairs	$	2,000	$	-	$	500	$	500	$	2,500	
General Repairs & Maintenance	$	3,500	$	-	$	875	$	875	$	5,000	
Contingency	$	2,000	$	-	$	500	$	500	$	2,500	
Subtotal Field Expenses	$	54,090	$	-	$	16,648	$	16,648	$	125,500	

	Adopted	Actuals	Projected
Budget	Thru	Next	Projected Thru	Adopted Budget	
Description	FY2021	6/30/21	3 Months	9/30/21	FY2022	

Amenity Expenses
Amenity - Electric	

$	-	$	-	$	-	

$	-	

$	6,000	
Amenity - Water	$	-	$	-	$	-	$	-	$	1,458	
Playground Lease	$	-	$	-	$	-	$	-	$	16,750	
Internet	$	-	$	-	$	-	$	-	$	1,250	
Pest Control	$	-	$	-	$	-	$	-	$	300	
Janitorial Service	$	-	$	-	$	-	$	-	$	2,000	
Security Services	$	-	$	-	$	-	$	-	$	3,125	
Pool Maintenance	$	-	$	-	$	-	$	-	$	4,792	
Amenity Repairs & Maintenance	$	-	$	-	$	-	$	-	$	2,083	
Contingency	$	-	$	-	$	-	$	-	$	2,083	
Subtotal Amenity Expenses	$	-	$	-	$	-	$	-	$	39,842	
				
Total Operations & Maintenance	$	54,090	$	-	$	16,648	$	16,648	$	165,342	

Other Expenses
Capital Reserves	

$	-	$	-	$	-	

$	-	

$	10,000	
Total Other Expenses	$	-	$	-	$	-	$	-	$	10,000	
				
Total Expenditures	$	184,965	$	67,240	$	61,076	$	128,315	$	324,267	
				
Excess Revenues/(Expenditures)	$	-	$	695	$	3,552	$	4,247	$	-	

Net Assessments	
$106,500			
Add: Discounts & Collections 7%	$8,016			
Gross Assessments	$114,516			

Assessable Units	
142			
Gross Per Unit Assessment	$806.45			
Net Per Unit Assessment	$750.00			

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.

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 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.

Assessment Administration

The District will contract to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

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 one other anticipated bond issuance.

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 an the Series 2020 bonds and one other anticipated bond issuance.

Trustee Fees

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

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 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 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.

Printing & Binding

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 Expenses

Property Insurance

The District’s property insurance coverages.

Field Management

Represents the estimated costs of contracting services that 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 estimated 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.

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 Expenses

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 will enter into a leasing agreement for playgrounds installed in the community.

Internet

Internet service will be added 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.

Amenity Access Management

Represents the cost of managing and monitoring access to the District’s amenity facilities.

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.
Adopted Budget
Series 2020 Debt Service Fund

Adopted Budget	Actual Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2021	6/30/21	3 Months	9/30/21	FY2022	

Revenues

Assessments - Tax Roll
$	-	$
-	$	-	$
-	$	172,075

Assessments - Direct Bill	$	57,263	$	-	$	57,263	$	57,263	$	-	
Interest Income	$	-	$	7	$	-	$	7	$	-	
Carry Forward Surplus	$	-	$	-	$	-	$	-	$	58,169	
Total Revenues	$	57,263	$	7	$	57,263	$	57,269	$	230,244	

Expenses						
Interest - 11/1	$	-	$	-	$	-	$	-	$	57,263	
Principal - 5/1	$	-	$	-	$	-	$	-	$	55,000	
Interest - 5/1	$	49,946	$	49,946	$	-	$	49,946	$	57,263		
Total Expenditures	$	49,946	$	49,946	$	-	$	49,946	$	169,525		

Other Financing Sources						

Transfer In/(Out)	$	-	$	900	$	-	$	900	$	-		
Bond Proceeds	$	222,021	$	222,021	$	-	$	222,021	$	-	
Total Other Financing Sources (Uses)	$	222,021	$	222,920	$	-	$	222,920	$	-	
						
Excess Revenues/(Expenditures)	$	229,338	$	172,981	$	57,263	$	230,244	$	60,719	

Interest Expense 11/1/22
Total
$	56,506

$	56,506

Single Family	142
142
$	172,075 $
$	172,075
1,212 $
1,303

- 5,000.00
- 5,000.00
- 0,000.00
- 0,000.00
- 0,000.00
- 5,000.00
- 5,000.00
- 0,000.00
- 0,000.00
- 5,000.00
- 5,000.00
- 0,000.00
- 5,000.00
- 5,000.00
- 0,000.00
- 5,000.00
- 0,000.00
- 0,000.00
- 5,000.00
- 0,000.00
- 5,000.00
- 0,000.00
- 5,000.00
-

DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL	

05/01/45	
$	1,030,000.00	
$	130,000.00	$	21,243.75	
$	-	
11/01/45	$	900,000.00	$	-	$	18,562.50	$	169,806.25	
05/01/46	$	900,000.00	$	135,000.00	$	18,562.50	$	-	
11/01/46	$	765,000.00	$	-	$	15,778.13	$	169,340.63	
05/01/47	$	765,000.00	$	140,000.00	$	15,778.13	$	-	
11/01/47	$	625,000.00	$	-	$	12,890.63	$	168,668.75	
05/01/48	$	625,000.00	$	145,000.00	$	12,890.63	$	-	
11/01/48	$	480,000.00	$	-	$	9,900.00	$	167,790.63	
05/01/49	$	480,000.00	$	155,000.00	$	9,900.00	$	-	
11/01/49	$	325,000.00	$	-	$	6,703.13	$	171,603.13	
05/01/50	$	325,000.00	$	160,000.00	$	6,703.13	$	-	
11/01/50	$	165,000.00	$	-	$	3,403.13	$	170,106.25	
05/01/51	$	165,000.00	$	165,000.00	$	3,403.13	$	168,403.13	
		$	2,950,000.00	$	2,191,812.50	$	5,191,758.13