Grande Pines
Community Development District

Proposed Budget
FY2025

Table of Contents

1-2	General Fund	

3-6	

General Fund Narrative	

7	

Series 2021 Debt Service Fund	

8-9	

Series 2021 Amortization Schedule	

10	
Series 2024 Debt Service Fund	

11-12	
Series 2024 Amortization Schedule	

13	
Summary Assessment Chart	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget		
Description	FY2024	3/31/24	6 Months	9/30/24	FY2025		

Revenues						
Assessments - Tax Roll	$	244,329	$	53,847	$	190,481	$	244,329	$  618,635	
Cost Share Revenue	$	6,242	$	-	$	6,242	$	6,242	$	6,242	
Developer Contributions	$	262,004	$	-	$	172,816	$	172,816	$	-	
Total Revenues	$	512,575	$	53,847	$	369,539	$	423,387	$ 624,877	

Expenditures						
Administrative
Supervisor Fees	
$	12,000	
$	2,200	
$	3,200	
$	5,400	
$	12,000	
FICA Expense	$	918	$	168	$	459	$	627	$	918	
Engineering	$	12,000	$	125	$	3,000	$	3,125	$	12,000	
Attorney	$	25,000	$	13,560	$	12,500	$	26,060	$	25,000	
Arbitrage	$	900	$	-	$	450	$	450	$	900	
Annual Audit	$	6,000	$	5,100	$	-	$	5,100	$	6,000	
Dissemination Fees	$	7,000	$	1,750	$	1,750	$	3,500	$	7,000	
Trustee Fees	$	8,200	$	2,020	$	6,180	$	8,200	$	8,200	
Assessment Administration	$	5,300	$	5,300	$	-	$	5,300	$	5,562	
Management Fees	$	38,955	$	19,478	$	19,476	$	38,954	$	42,500	
Information Technology	$	1,800	$	900	$	900	$	1,800	$	1,890	
Website Maintenance	$	1,200	$	600	$	600	$	1,200	$	1,260	
Telephone	$	300	$	-	$	150	$	150	$	300	
Postage	$	200	$	99	$	100	$	199	$	200	
Insurance	$	6,718	$	6,076	$	-	$	6,076	$	6,684	
Printing & Binding	$	350	$	6	$	36	$	42	$	350	
Legal Advertising	$	5,000	$	-	$	2,500	$	2,500	$	5,000	
Other Current Charges	$	1,000	$	635	$	300	$	935	$	1,000	
Office Supplies	$	200	$	277	$	100	$	377	$	200	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total Administrative	$	133,216	$	58,469	$	51,701	$	110,170	$ 137,139	

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2024	3/31/24	6 Months	9/30/24	FY2025	

Field Expenditures						
Field Management	$	15,000	$	7,500	$	6,250	$	13,750	$	15,750	
Security	$	163,171	$	87,533	$	92,820	$	180,353	$  240,000	
Gate Repairs	$	6,000	$	424	$	1,500	$	1,924	$	6,000	
Gate Internet, Phone, Cable	$	3,000	$	-	$	1,500	$	1,500	$	3,000	
Gate Cameras	$	1,200	$	-	$	600	$	600	$	1,200	
Gate Supplies	$	1,500	$	-	$	750	$	750	$	1,500	
Property Insurance	$	2,465	$	-	$	-	$	-	$	2,465	
Electric	$	6,900	$	7,867	$	8,400	$	16,267	$	27,000	
Streetlights	$	60,648	$	-	$	15,162	$	15,162	$	60,648	
Water & Sewer	$	21,740	$	-	$	5,435	$	5,435	$	21,740	
Landscape Maintenance	$	69,900	$	22,997	$	25,200	$	48,197	$	69,900	
Landscape Contingency	$	1,000	$	-	$	500	$	500	$	5,000	
Irrigation Repairs	$	3,000	$	-	$	1,500	$	1,500	$	3,000	
Lake Maintenance	$	12,035	$	3,960	$	4,050	$	8,010	$	12,035	
Pressure Washing	$	6,000	$	-	$	3,000	$	3,000	$	6,000	
Sign Maintenance	$	1,800	$	-	$	900	$	900	$	-	
Repairs & Maintenance	$	1,500	$	2,173	$	750	$	2,923	$	10,000	
Contingency	$	2,500	$	6,223	$	6,223	$	12,446	$	2,500	
Total Field Expenditures	$	379,359	$	138,677	$	174,540	$	313,217	$ 487,738	
						
Total Expenditures	$	512,575	$	197,146	$	226,241	$	423,387	$ 624,877	
						
Excess Revenues/(Expenditures)	$	-	$	(143,299)	$	143,299	$	-	$	-	

Product Type	Assessable Units ERU Value	Total ERU	%	Net Assessments	Gross Assessments							
Single Family - 50'	154	1.00	154	42%	$	259,202.17	$	275,746.99		
Single Family - 70'	62	1.40	87	24%	$	146,095.77	$	155,421.03		
Townhouse	169	0.75	127	34%	$	213,336.85	$	226,954.10		
	385	3	368	100%	$	618,634.80			
								
		Gross
Assessments- Per	Gross Assessments-	Increase (Decrease)	% Increase			
		Unit FY 25	Per Unit FY 24	Per Unit	(Decrease)			
$	1,790.56	$	1,445.23	$	345.34	24%				
$	2,506.79	$	2,023.32	$	483.47	24%				
$	1,342.92	$	1,083.92	$	259.00	24%				
								
Grande Pines Community Development District
General Fund Budget

REVENUES:

Assessments

The District will levy a non-ad valorem assessment on all the assessable property within the District to pay for operating expenditures during the fiscal year.

Cost Share Revenue

The district will earn 23% in revenue from PAC Fair Share.

EXPENDITURES:

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. Amount is based on 5 Supervisors attending 5 meetings during the fiscal year.

FICA Expense

Represents the Employer’s share of Social Security and Medicare taxes withheld from Board of Supervisor checks.

Engineering

The District's engineer, Poulos & Bennett, provides 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, Latham, Luna, Eden & Beaudine, provides 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.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on the proposed bonds.

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis. The District is currently contracted with Grau & Associates for these services.

Dissemination Fees

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. Governmental Management Services-Central Florida, LLC, provides these services.

Trustee Fees

The District will pay annual trustee fees for the series 2021 bonds to USBank.

Assessment Administration

The District has contracted with Governmental Management Services-Central Florida, LLC, to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

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 various cost of information technology for the District such as video conferencing, cloud storage and servers, positive pay implementation and programming for fraud protection, accounting software, tablets for meetings, Adobe, Microsoft Office, etc. Governmental Management Services-Central Florida, LLC, provides these services.

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. Governmental Management Services-Central Florida, LLC, provides these services.

Telephone

Telephone and fax machine.

Postage

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

Insurance

The District’s general liability and public official’s liability insurance coverage is provided by the Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Printing & Binding

Represents the cost of 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

Miscellaneous office supplies.

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.

Field Expenditures:

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.

Security

Represents the day-to-day staffing and operations management of the gate. It also includes gate attendants and roaming patrol.

Gate Repairs

The cost of repairing and maintain the gate.

Gate Internet, Phone, Cable

Represents the cost of the telephone/fax costs, internet and cable for the mechanical gate arm motors.

Gate Cameras

Represents the cost of the control board and cameras for the mechanical gate arm.

Gate Supplies

Supplies used for the gate

Property Insurance

The District’s estimated property insurance coverages.

Electric

Represents current and estimated electric charges of common areas throughout the District.

Streetlights

Encompasses the budgeted amount for the District’s decorative light poles and fixtures in various locations.

Water & Sewer

Represents estimated costs for water and refuse services provided for common areas throughout the District.

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.

Landscape Contingency

Represents the estimated cost of replacing landscaping within the common areas of the District.

Irrigation Repairs

Represents the cost of maintaining and repairing the irrigation system. This includes the sprinklers, and irrigation wells.

Lake Maintenance

Represents the estimated costs of maintaining the lake for the District.

Pressure Washing

Represents the cost of pressure washing for the District.

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.
Community Development District Proposed Budget
Debt Service Fund Series 2021

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget		
Description	FY2024	3/31/24	6 Months	9/30/24	FY2025		

Revenues						
Assessments - Tax Roll	$	383,353	$	84,487	$	298,866	$	383,353	$	383,353	
Interest	$	-	$	10,673	$	3,522	$	14,195	$	7,000	
Carry Forward Surplus (1)	$	139,717	$	139,858	$	-	$	139,858	$	146,874	
Total Revenues	$	523,070	$	235,018	$	302,388	$	537,406	$	537,227	

Expenditures						
Interest - 11/1	$	120,688	$	120,688	$	-	$	120,688	$	118,938	
Principal - 5/1	$	140,000	$	-	$	140,000	$	140,000	$	145,000	
Interest - 5/1	$	120,688	$	-	$	120,688	$	120,688	$	118,938	
Total Expenditures	$	381,375	$	120,688	$	260,688	$	381,375	$	382,876	

Other Financing Sources/(Uses)						
Transfer In/Out	$	-	$	(9,158)	$	-	$	(9,158)	$	-	
Total Other Financing Sources/(Uses)	$	-	$	(9,158)	$	-	$	(9,158)	$	-	
						
Excess Revenues/(Expenditures)	$	141,695	$	105,173	$	41,701	$	146,874	$	154,351	

Interest - 11/1/2025  $	117,125

(1) Carryforward Surplus is net of Debt Service Reserve Funds

Product	
Assessable Units	Maximum Annual Debt Service	Net Assessment Per Unit	Gross Assessment Per Unit	
Single Family - 50'	98	$	208,888.55	$	2,131.52	$	2,267.57	
Single Family - 70'	29	$	86,539.32	$	2,984.11	$	3,174.59	
Townhouse	55	$	87,925.16	$	1,598.64	$	1,700.68	
	182	$	383,353			

11/01/24	$	6,350,000.00	$	-	$	118,937.50	$	379,625.00	
05/01/25	$	6,350,000.00	$	145,000.00	$	118,937.50	$	-	
11/01/25	$	6,205,000.00	$	-	$	117,125.00	$	381,062.50	
05/01/26	$	6,205,000.00	$	150,000.00	$	117,125.00	$	-	
11/01/26	$	6,055,000.00	$	-	$	115,250.00	$	382,375.00	
05/01/27	$	6,055,000.00	$	150,000.00	$	115,250.00	$	-	
11/01/27	$	5,905,000.00	$	-	$	112,850.00	$	378,100.00	
05/01/28	$	5,905,000.00	$	155,000.00	$	112,850.00	$	-	
11/01/28	$	5,750,000.00	$	-	$	110,370.00	$	378,220.00	
05/01/29	$	5,750,000.00	$	160,000.00	$	110,370.00	$	-	
11/01/29	$	5,590,000.00	$	-	$	107,810.00	$	378,180.00	
05/01/30	$	5,590,000.00	$	165,000.00	$	107,810.00	$	-	
11/01/30	$	5,425,000.00	$	-	$	105,170.00	$	377,980.00	
05/01/31	$	5,255,000.00	$	170,000.00	$	105,170.00	$	-	
11/01/31	$	5,255,000.00	$	-	$	102,450.00	$	377,620.00	
05/01/32	$	5,255,000.00	$	180,000.00	$	102,450.00	$	-	
11/01/32	$	5,075,000.00	$	-	$	99,075.00	$	381,525.00	
05/01/33	$	5,075,000.00	$	185,000.00	$	99,075.00	$	-	
11/01/33	$	4,890,000.00	$	-	$	95,606.25	$	379,681.25	
05/01/34	$	4,890,000.00	$	190,000.00	$	95,606.25	$	-	
11/01/34	$	4,700,000.00	$	-	$	92,043.75	$	377,650.00	
05/01/35	$	4,700,000.00	$	200,000.00	$	92,043.75	$	-	
11/01/35	$	4,500,000.00	$	-	$	88,293.75	$	380,337.50	
05/01/36	$	4,500,000.00	$	205,000.00	$	88,293.75	$	-	
11/01/36	$	4,295,000.00	$	-	$	84,450.00	$	377,743.75	
05/01/37	$	4,295,000.00	$	215,000.00	$	84,450.00	$	-	
11/01/37	$	4,080,000.00	$	-	$	80,418.75	$	379,868.75	
05/01/38	$	4,080,000.00	$	225,000.00	$	80,418.75	$	-	
11/01/38	$	3,855,000.00	$	-	$	76,200.00	$	381,618.75	
05/01/39	$	3,855,000.00	$	230,000.00	$	76,200.00	$	-	
11/01/39	$	3,625,000.00	$	-	$	71,887.50	$	378,087.50	
05/01/40	$	3,625,000.00	$	240,000.00	$	71,887.50	$	-	
11/01/40	$	3,385,000.00	$	-	$	67,387.50	$	379,275.00	
05/01/41	$	3,135,000.00	$	250,000.00	$	67,387.50	$	-	
11/01/41	$	3,135,000.00	$	-	$	62,700.00	$	380,087.50	
05/01/42	$	3,135,000.00	$	260,000.00	$	62,700.00	$	-	
11/01/42	$	2,875,000.00	$	-	$	57,500.00	$	380,200.00	
05/01/43	$	2,875,000.00	$	270,000.00	$	57,500.00	$	-	
11/01/43	$	2,605,000.00	$	-	$	52,100.00	$	379,600.00	
05/01/44	$	2,605,000.00	$	280,000.00	$	52,100.00	$	-	
11/01/44	$	2,325,000.00	$	-	$	46,500.00	$	378,600.00	
05/01/45	$	2,325,000.00	$	295,000.00	$	46,500.00	$	-	
11/01/45	$	2,030,000.00	$	-	$	40,600.00	$	382,100.00	
05/01/46	$	2,030,000.00	$	305,000.00	$	40,600.00	$	-	

11/01/46	$	1,725,000.00	$	-	$	34,500.00	$	380,100.00	
05/01/47	$	1,725,000.00	$	315,000.00	$	34,500.00	$	-	
11/01/47	$	1,410,000.00	$	-	$	28,200.00	$	377,700.00	
05/01/48	$	1,410,000.00	$	330,000.00	$	28,200.00	$	-	
11/01/48	$	1,080,000.00	$	-	$	21,600.00	$	379,800.00	
05/01/49	$	1,080,000.00	$	345,000.00	$	21,600.00	$	-	
11/01/49	$	735,000.00	$	-	$	14,700.00	$	381,300.00	
05/01/50	$	735,000.00	$	360,000.00	$	14,700.00	$	-	
11/1/50	$	375,000.00	$	-	$	7,500.00	$	382,200.00	
5/1/51	$	375,000.00	$	375,000.00	$	7,500.00	$	382,500.00	

Proposed Budget
Debt Service Fund Series 2024

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2024	3/31/24	6 Months	9/30/24	FY2025	

Revenues
Assessments - Tax Roll Carry Forward Surplus	

$	-
$	-	

$	-
$	-	

$	-
$	-	

$	-
$	-	

$	399,845
$	192,551	
Total Revenues	$	-	$	-	$	-	$	-	$	592,396	

Expenditures						

Interest - 11/1	
$	-	$	-	$	-	$	-	$	192,551					
Principal - 5/1	$	-	$	-	$	-	$	-	$	85,000					
Interest - 5/1	$	-	$	-	$	-	$	-	$	158,261					
Total Expenditures	$	-	$	-	$	-	$	-	$	435,812					

Other Financing Sources/(Uses)						
Bond Proceeds	$	-	$	-	$	592,396	$	592,396	$	-			
Total Other Financing Sources/(Uses)	$	-	$	-	$	592,396	$	592,396	$	-			
						
Excess Revenues/(Expenditures)	$	-	$	-	$	592,396	$	592,396	$	156,584			

Interest - 11/1/2025  $	156,285

Product	
Assessable Units	Maximum Annual Debt Service	Net Assessment Per Unit	Gross Assessment Per Unit	
Single Family - 50'	56	$	119,293.13	$	2,130.23	$	2,266.21	
Single Family - 70'	33	$	98,416.83	$	2,982.33	$	3,172.69	
Townhouse	114	$	182,135.04	$	1,597.68	$	1,699.66	
	203	$	399,845			

-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00

Date		Balance	Prinicpal	Interest	Total	

11/01/47	
$	
2,290,000.00	
$	-	
$	66,410.00	
$	395,215.00	
05/01/48	$	2,290,000.00	$	275,000.00	$	66,410.00		
11/01/48	$	2,015,000.00	$	-	$	58,435.00	$	399,845.00	
05/01/49	$	2,015,000.00	$	290,000.00	$	58,435.00		
11/01/49	$	1,725,000.00	$	-	$	50,025.00	$	398,460.00	
05/01/50	$	1,725,000.00	$	305,000.00	$	50,025.00	$	-	
11/01/50	$	1,420,000.00	$	-	$	41,180.00	$	396,205.00	
05/01/51	$	1,420,000.00	$	325,000.00	$	41,180.00	$	-	
11/01/51	$	1,095,000.00	$	-	$	31,755.00	$	397,935.00	
05/01/52	$	1,095,000.00	$	345,000.00	$	31,755.00	$	-	
11/01/52	$	750,000.00	$	-	$	21,750.00	$	398,505.00	
05/01/53	$	750,000.00	$	365,000.00	$	21,750.00	$	-	
11/01/53	$	385,000.00	$	-	$	11,165.00	$	397,915.00	
05/01/54	$	385,000.00	$	385,000.00	$	11,165.00	$	396,165.00	
			$	5,765,000.00	$	6,355,924.94	$	12,120,924.94	
Grande Pines
Community Development District Summary Assessment Chart

Product Type	

Assessable Units	
O&M Gross Assessments- Per Unit	Series 2021 Debt - Gross Assessments- Per
Unit	
Total Gross Annual Assessment Per Unit	
Townhouse	55	$1,234.38	$1,700.68	$2,935.06	
Single Family - 50'	98	$1,645.85	$2,267.57	$3,913.42	
Single Family - 70'	29	$2,304.18	$3,174.59	$5,478.77	
	182				

Product Type	

Assessable Units	
O&M Gross Assessments- Per Unit	Series 2024 Debt - Gross Assessments- Per
Unit	
Total Gross Annual Assessment Per Unit	
Townhouse	114	$1,234.38	$1,699.66	$2,934.04	
Single Family - 50'	56	$1,645.85	$2,266.21	$3,912.05	
Single Family - 70'	33	$2,304.18	$3,172.69	$5,476.87	
	203