Adopted Budget	
Fiscal Year 2021	

 Quail Roost	
   Community Development District	

May 15, 2020

Quail Roost	General Fund

Adopted	
Budget	
FY2020	

Actual	
Thru	
3/31/2020	

Projected	
Next	
6 Months	

Projected	
thru	
9/30/2020	

Adopted	
Budget	
FY2021	

Community Development District	FY2021

Revenues		
Maintenance Assessments - Net	$68,000	
Developer Contributions	$1,770	

Description

$66,651	
$1,770	

$1,349	
$0	

$68,000	
$1,770	

$	68,000	
$0	

Total Revenues	$69,770	$68,421	$1,349	$69,770	$68,000

Expenditures

Administrative	
Engineering Fees	
Arbitrage	
Dissemination Agent	
Attorney Fees	
Annual Audit	
Trustee Fees	
Management Fees	
Postage	
Printing & Binding	
Insurance	
Legal Advertising	
Other Current Charges	
Website Compliance	
Office Supplies	
Dues, Licenses & Subscriptions	

$1,500	
$600	
$1,200	
$7,500	
$3,300	
$3,750	
$24,000	
$200	
$175	
$5,500	
$750	
$6,220	
$1,000	
$100	
$175	

$890	
$0	
$600	
$2,798	
$0	
$4,041	
$12,000	
$54	
$137	
$5,125	
$0	
$199	
$500	
$56	
$175	

$611	
$600	
$600	
$4,702	
$3,300	
$0	
$12,000	
$146	
$39	
$375	
$750	
$5,730	
$500	
$44	
$0	

$1,500	
$600	
$1,200	
$7,500	
$3,300	
$4,041	
$24,000	
$200	
$175	
$5,500	
$750	
$5,929	
$1,000	
$100	
$175	

$2,000	
$600	
$1,200	
$7,500	
$3,400	
$4,100	
$24,000	
$200	
$300	
$5,500	
$750	
$3,375	
$1,000	
$100	
$175	

Maintenance	
Landscape Maintenance	
Wall Maintenance	

$12,000	
$1,800	

$7,500	
$0	

$4,500	
$1,800	

$12,000	
$1,800	

$12,000	
$1,800	

TOTAL EXPENDITURES	$69,770		$34,073		$35,696		$69,770		$68,000	
										
Assigned Fund Balance	$0		$34,348		($34,348)		$0		$0	

$ 68,000.38	
$	3,578.97	
$ 71,579.35	
85	
$	800.00	
$	842.11	

	

Net Assessments	
Plus Collection Fees (5%)	
Gross Assessments	
No. of Units	
Net Per Unit Assessment	
Gross Per Unit Assessment	

Page 1

Quail Roost
Community Development District	General Fund

REVENUES:

Maintenance Assessments - Net
The District will levy a Non-Ad Valorem assessment on all the platted lots within the District to pay the operating expenses for the Fiscal Year in accordance with the adopted budget. The proposed assessment for Operations and Maintenance is $842.11 per unit.

Developer Contributions
It is presently anticipated that the District will enter into a Funding Agreement with the Developer to Fund all General Fund expenditures for the Fiscal Year.

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.

Arbitrage
The District is required to have an annual arbitrage rebate calculation on the District’s Bonds. The District will contract with an independent auditing firm 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.

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 will be held and administered by a Trustee. This represents the banks 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.

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.

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.

Website Compliance
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.

Office Supplies
Miscellaneous office supplies.
Page 2

Quail Roost
Community Development District	General Fund

Administrative: (continued)

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.

Discount & Collections
These are a percentage of the annual assessment; 1% for the tax collector and 4% for early payment discounts.

Maintenance:

Landscape Maintenance
The District will contract with a landscape company to maintain the landscape throughout the District.

Porter Services
This cost represents various cleaning up and maintenance.

Wall Maintenance
The cost is to maintain the walls of the district.

Field Maintenance
The District will contract the operation of the property.

Page 3

Quail Roost	
Community Development District	

 	
Debt Service	
Series 2018, Special Assessment Bonds	

Adopted	
Budget	
FY2020	

Actual	
Thru	
3/31/2020	

Projected	
Next	
6 Months	

Projected	
thru	
9/30/2020	

Adopted	
Budget	
FY2021	

Revenues		
Interest Income	$0	
Direct Assessments	$0	
Special Assessments	$134,613	
Carry Forward Surplus (1)	$84,343	

$60	
$84,438	
$131,732	
$26	

$160	
$0	
$2,881	
$0	

$220	
$84,438	
$134,613	
$26	

$0	
$0	
$134,613	
$86,100	

Description

Total Revenues	$218,955	$216,256	$3,041	$219,297	$220,713

Expenditures

Interest Expense - 12/15	
Principal Expense - 12/15	
Interest Expense - 6/15	

$49,438	
$35,000	
$48,759	

$49,438	
$35,000	
$0	

$0	
$0	
$48,759	

$49,438	
$35,000	
$48,759	

$48,759	
$37,000	
$48,043	

Total Expenditures	$133,197		$84,438		$48,759	$133,197	$133,802 Assigned Fund Balance		$85,759	$131,818	($45,718)		$86,100		$86,911

12/15/21 Interest	
12/15/21 Principal	

$48,043	
$38,000	
$86,043	

	

	

(1) Carry forward is net of Reserve.

Land Use	No. Units	Gross Per Unit
Single Family	85	$	1,667.03	
Total
$ 141,697.55	
Gross Assessments $ 141,697.55 Less: Comm/Disc	$	(7,085.05)
Total Net	$ 134,612.50	

Page 4

Quail Roost	
Community Development District	

Amortization Schedule	
Series 2018, Special Assessment Bonds	

 	
DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL	

12/15/2020	$	2,061,000.00	$	37,000.00	$	48,759.38	$	85,759.38	
6/15/2021	$	2,024,000.00	$	-	$	48,042.50	$	48,042.50	
12/15/2021	$	2,024,000.00	$	38,000.00	$	48,042.50	$	86,042.50	
6/15/2022	$	1,986,000.00	$	-	$	47,306.25	$	47,306.25	
12/15/2022	$	1,986,000.00	$	40,000.00	$	47,306.25	$	87,306.25	
6/15/2023	$	1,946,000.00	$	-	$	46,531.25	$	46,531.25	
12/15/2023	$	1,946,000.00	$	41,000.00	$	46,531.25	$	87,531.25	
6/15/2024	$	1,905,000.00	$	-	$	45,736.88	$	45,736.88	
12/15/2024	$	1,905,000.00	$	43,000.00	$	45,736.88	$	88,736.88	
6/15/2025	$	1,862,000.00	$	-	$	44,903.75	$	44,903.75	
12/15/2025	$	1,862,000.00	$	44,000.00	$	44,903.75	$	88,903.75	
6/15/2026	$	1,818,000.00	$	-	$	43,968.75	$	43,968.75	
12/15/2026	$	1,818,000.00	$	46,000.00	$	43,968.75	$	89,968.75	
6/15/2027	$	1,772,000.00	$	-	$	42,991.25	$	42,991.25	
12/15/2027	$	1,772,000.00	$	48,000.00	$	42,991.25	$	90,991.25	
6/15/2028	$	1,724,000.00	$	-	$	41,971.25	$	41,971.25	
12/15/2028	$	1,724,000.00	$	50,000.00	$	41,971.25	$	91,971.25	
6/15/2029	$	1,674,000.00	$	-	$	40,908.75	$	40,908.75	
12/15/2029	$	1,674,000.00	$	52,000.00	$	40,908.75	$	92,908.75	
6/15/2030	$	1,622,000.00	$	-	$	39,803.75	$	39,803.75	
12/15/2030	$	1,622,000.00	$	55,000.00	$	39,803.75	$	94,803.75	
6/15/2031	$	1,567,000.00	$	-	$	38,497.50	$	38,497.50	
12/15/2031	$	1,567,000.00	$	57,000.00	$	38,497.50	$	95,497.50	
6/15/2032	$	1,510,000.00	$	-	$	37,143.75	$	37,143.75	
12/15/2032	$	1,510,000.00	$	60,000.00	$	37,143.75	$	97,143.75	
6/15/2033	$	1,450,000.00	$	-	$	35,718.75	$	35,718.75	
12/15/2033	$	1,450,000.00	$	63,000.00	$	35,718.75	$	98,718.75	
6/15/2034	$	1,387,000.00	$	-	$	34,222.50	$	34,222.50	
12/15/2034	$	1,387,000.00	$	66,000.00	$	34,222.50	$	100,222.50	
6/15/2035	$	1,321,000.00	$	-	$	32,655.00	$	32,655.00	
12/15/2035	$	1,321,000.00	$	69,000.00	$	32,655.00	$	101,655.00	
6/15/2036	$	1,252,000.00	$	-	$	31,016.25	$	31,016.25	
12/15/2036	$	1,252,000.00	$	72,000.00	$	31,016.25	$	103,016.25	
6/15/2037	$	1,180,000.00	$	-	$	29,306.25	$	29,306.25	
12/15/2037	$	1,180,000.00	$	76,000.00	$	29,306.25	$	105,306.25	
6/15/2038	$	1,104,000.00	$	-	$	27,501.25	$	27,501.25	
12/15/2038	$	1,104,000.00	$	79,000.00	$	27,501.25	$	106,501.25	
6/15/2039	$	1,025,000.00	$	-	$	25,625.00	$	25,625.00	
12/15/2039	$	1,025,000.00	$	80,000.00	$	25,625.00	$	105,625.00	
6/15/2040	$	945,000.00	$	-	$	23,625.00	$	23,625.00	
12/15/2040	$	945,000.00	$	85,000.00	$	23,625.00	$	108,625.00	
6/15/2041	$	860,000.00	$	-	$	21,500.00	$	21,500.00	
12/15/2041	$	860,000.00	$	90,000.00	$	21,500.00	$	111,500.00	
6/15/2042	$	770,000.00	$	-	$	19,250.00	$	19,250.00	
12/13/2042	$	770,000.00	$	95,000.00	$	19,250.00	$	114,250.00	
6/15/2043	$	675,000.00	$	-	$	16,875.00	$	16,875.00	
12/13/2043	$	675,000.00	$	100,000.00	$	16,875.00	$	116,875.00	
6/15/2044	$	575,000.00	$	-	$	14,375.00	$	14,375.00	
12/13/2044	$	575,000.00	$	105,000.00	$	14,375.00	$	119,375.00	
6/15/2045	$	470,000.00	$	-	$	11,750.00	$	11,750.00	
12/13/2045	$	470,000.00	$	110,000.00	$	11,750.00	$	121,750.00	
6/15/2046	$	360,000.00	$	-	$	9,000.00	$	9,000.00	
12/13/2046	$	360,000.00	$	115,000.00	$	9,000.00	$	124,000.00	
6/15/2047	$	245,000.00	$	-	$	6,125.00	$	6,125.00	
12/13/2047	$	245,000.00	$	120,000.00	$	6,125.00	$	126,125.00	
6/15/2048	$	125,000.00	$	-	$	3,125.00	$	3,125.00	
12/15/2048	$	125,000.00	$	125,000.00	$	3,125.00	$	128,125.00	
 	 	
Total	$	2,096,000.00	$	1,946,380.78	$	3,828,710.64	

Page 5