Lake Mattie Preserve
Community Development District

Adopted Budget
FY2025

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Table of Contents

1

2-4

5

	General Fund

	General Fund Narrative

	Debt Service Fund - Series 2024

6		Amortization Schedule - Series 2024

Lake Mattie Preserve
Community Development District Adopted Budget
General Fund

	Adopted Budget	Actuals Thru	Projected Next	Total Thru	Adopted Budget	
Description	FY2024	5/31/24	4 Months	9/30/24	FY2025	

Revenues						
Developer Contributions	$	160,192	$	25,000	$	59,092	$	84,092	$	452,437	
Total Revenues	$	160,192	$	25,000	$	59,092	$	84,092	$	452,437	

Expenditures						
General & Administrative						
Supervisor Fees	$	12,000	$	1,200	$	1,800	$	3,000	$	12,000	
FICA Expense	$	900	$	92	$	138	$	230	$	900	
Engineering	$	15,000	$	4,875	$	4,875	$	9,750	$	15,000	
Attorney	$	25,000	$	3,793	$	8,333	$	12,126	$	25,000	
Annual Audit	$	4,000	$	3,400	$	-	$	3,400	$	4,000	
Assessment Administration	$	5,000	$	-	$	-	$	-	$	5,000	
Arbitrage	$	450	$	-	$	-	$	-	$	450	
Dissemination	$	5,000	$	417	$	1,667	$	2,083	$	5,000	
Trustee Fees	$	4,042	$	-	$	-	$	-	$	4,042	
Management Fees	$	37,500	$	25,000	$	12,500	$	37,500	$	39,375	
Information Technology	$	1,800	$	1,200	$	600	$	1,800	$	1,890	
Website Maintenance	$	1,200	$	800	$	400	$	1,200	$	1,260	
Postage & Delivery	$	1,000	$	12	$	200	$	212	$	1,000	
Insurance	$	5,500	$	5,200	$	-	$	5,200	$	5,720	
Copies	$	1,000	$	-	$	333	$	333	$	1,000	
Legal Advertising	$	10,000	$	-	$	5,000	$	5,000	$	10,000	
Other Current Charges	$	5,000	$	313	$	1,667	$	1,980	$	5,000	
Office Supplies	$	625	$	3	$	100	$	103	$	625	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total General & Administrative:	$	135,192	$	46,480	$	37,613	$	84,092	$	137,437	

Operations & Maintenance						
Field Management	$	-	$	-	$	-	$	-	$	15,000	
Field Contingency	$	25,000	$	-	$	-	$	-	$	250,000	
Total Operations & Maintenance:	$	25,000	$	-	$	-	$	-	$	265,000	

Other Financing Sources/(Uses):
First Quarter Operating Reserve	$	-	$	-	

$	-	

$	-	

$	50,000	
Total Other Financing Sources/(Uses)	$	-	$	-	$	-	$	-	$	50,000	

Total Expenditures	$	160,192	$	46,480	$	37,613	$	84,092	$	452,437	
						
Excess Revenues/(Expenditures)	$	-	$	(21,480)	$	21,480	$	-	$	-	

Lake Mattie Preserve Community Development District General Fund Narrative

Revenues:

Developer Contributions

The District will enter into a funding agreement with the Developer to fund the General Fund expenditures for 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.

FICA Expense

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

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 an anticipated bond issuance.

Lake Mattie Preserve Community Development District General Fund Narrative

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 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 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 systems.

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.

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.

Copies

Printing agenda materials 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.

Lake Mattie Preserve Community Development District General Fund Narrative

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.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Florida Department of Commerce for $175. This is the only expense under this category for the District.

Operations & Maintenance:

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.

Field Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any field category.

Other Financing Sources/(Uses)

First Quarter Operating Reserve

Represents the amount of funds or resources that district sets aside to cover operating expenses for the first quarter of a financial year.

Lake Mattie Preserve
Community Development District

Adopted Budget Debt Service Fund Series 2024

Description	Proposed Budget FY2024	Actuals Thru 5/31/24	Projected Next
4 Months	Projected Thru 9/30/24		Adopted Budget FY2025	

Revenues								
Assessments		$	-	$	-	$	-	$	-	$	308,811	
Bond Proceeds	$	460,464	$	460,464	$	-	$	460,464	$	-	
Interest Income	$	-	$	2,645	$	1,322	$	3,967	$	1,984	
Carry Forward Surplus	$	-	$	-	$	-	$	-	$	153,847	
Total Revenues	$	460,464	$	463,109	$	1,322	$	464,431	$	464,641	
Expenses					
Interest- 11/01	$	-	$	-	$	-	$	-	$	151,654	
Principal - 05/01	$	-	$	-	$	-	$	-	$	60,000	
Interest - 05/01	$	-	$	-	$	-	$	-	$	124,648	
Total Expenditures	$	-	$	-	$	-	$	-	$	336,302	

Excess Revenues/(Expenditures)	$	460,464	$	463,109	$	1,322	$	464,431	$	128,340	

*Carry forward less amount in Reserve funds.						
				Series 2024 Interest - 11/01/25	
$122,998	
Product	Assessable Units	Net Assessment	Net Per Unit	Gross Per Unit		
Townhome	90	$92,030	$1,022.55	$1,099.52		
Single Family (rear)	64	$77,342	$1,208.47	$1,299.43		
Single Family (front)	100	$139,439	$1,394.39	$1,499.34		
Total ERU's	254	$308,811				

Lake Mattie Preserve Community Development District Series 2024 Special Assessment Bonds Amortization Schedule

DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL

11/01/24	$	4,385,000.00	$	
05/01/25	$	4,385,000.00	$	60	
11/01/25	$	4,325,000.00	$	
05/01/26	$	4,325,000.00	$	60	
11/01/26	$	4,265,000.00	$	
05/01/27	$	4,265,000.00	$	65	
11/01/27	$	4,200,000.00	$	
05/01/28	$	4,200,000.00	$	70	
11/01/28	$	4,130,000.00	$	
05/01/29	$	4,130,000.00	$	75	
11/01/29	$	4,055,000.00	$	
05/01/30	$	4,055,000.00	$	75	
11/01/30	$	3,980,000.00	$	
05/01/31	$	3,980,000.00	$	80	
11/01/31	$	3,900,000.00	$	
05/01/32	$	3,900,000.00	$	85	
11/01/32	$	3,815,000.00	$	
05/01/33	$	3,815,000.00	$	90	
11/01/33	$	3,725,000.00	$	
05/01/34	$	3,725,000.00	$	95	
11/01/34	$	3,630,000.00	$	
05/01/35	$	3,630,000.00	$	100	
11/01/35	$	3,530,000.00	$	
05/01/36	$	3,530,000.00	$	105	
11/01/36	$	3,425,000.00	$	
05/01/37	$	3,425,000.00	$	115	
11/01/37	$	3,310,000.00	$	
05/01/38	$	3,310,000.00	$	120	
11/01/38	$	3,190,000.00	$	
05/01/39	$	3,190,000.00	$	125	
11/01/39	$	3,065,000.00	$	
05/01/40	$	3,065,000.00	$	135	
11/01/40	$	2,930,000.00	$	
05/01/41	$	2,930,000.00	$	140	
11/01/41	$	2,790,000.00	$	
05/01/42	$	2,790,000.00	$	150	
11/01/42	$	2,640,000.00	$	
05/01/43	$	2,640,000.00	$	155	
11/01/43	$	2,485,000.00	$	
05/01/44	$	2,485,000.00	$	165	
11/01/44	$	2,320,000.00	$	
05/01/45	$	2,320,000.00	$	175	
11/01/45	$	2,145,000.00	$	
05/01/46	$	2,145,000.00	$	185	
11/01/46	$	1,960,000.00	$	
05/01/47	$	1,960,000.00	$	200	
11/01/47	$	1,760,000.00	$	
05/01/48	$	1,760,000.00	$	210	
11/01/48	$	1,550,000.00	$	
05/01/49	$	1,550,000.00	$	220	
11/01/49	$	1,330,000.00	$	
05/01/50	$	1,330,000.00	$	235	
11/01/50	$	1,095,000.00	$	
05/01/51	$	1,095,000.00	$	250	
11/01/51	$	845,000.00	$	
05/01/52	$	845,000.00	$	265	
11/01/52	$	580,000.00	$	
05/01/53	$	580,000.00	$	280	
11/01/53	$	300,000.00	$	
05/01/54	$	300,000.00	$	300	
			$	4,385	

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151,654.46  $
124,647.50
122,997.50  $
122,997.50
121,347.50  $
121,347.50
119,560.00  $
119,560.00
117,635.00  $
117,635.00
115,572.50  $
115,572.50
113,510.00  $
113,510.00
111,310.00  $
111,310.00
108,972.50  $
108,972.50
106,497.50  $
106,497.50
103,885.00  $
103,885.00
101,135.00  $
101,135.00
98,247.50  $
98,247.50
95,085.00  $
95,085.00
91,785.00  $
91,785.00
88,347.50  $
88,347.50
84,635.00  $
84,635.00
80,785.00  $
80,785.00
76,660.00  $
76,660.00
72,397.50  $
72,397.50
67,860.00  $
67,860.00
62,741.25  $
62,741.25
57,330.00  $
57,330.00
51,480.00  $
51,480.00
45,337.50  $
45,337.50
38,902.50  $
38,902.50
32,028.75  $
32,028.75
24,716.25  $
24,716.25
16,965.00  $
16,965.00  $
8,775.00  $
8,775.00  $

151,654.46

307,645.00

304,345.00

305,907.50

307,195.00

308,207.50

304,082.50

304,820.00

305,282.50

305,470.00

305,382.50

305,020.00

304,382.50

308,332.50

306,870.00

305,132.50

307,982.50

305,420.00

307,445.00

304,057.50

305,257.50

305,601.25

305,071.25

308,810.00

306,817.50

304,240.00

305,931.25

306,745.00

306,681.25
- 305,740.00
308,775.00

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4,949,304.46  $

9,334,304.46