South Village Community Development District

Approved Budget
FY 2027

	Table of Contents	

1	
Budget Summary	

2-5	

General Fund	

6-11	

Recreation Center Fund	

12-16	

Golf Fund	

17	

Capital Reserve Fund	

18	

Debt Service Funds 2016A1/A2	

19-22	

Debt Service Amortization schedules  2016 A1/A2	

23	

Debt Service Funds 2016 A3	

24-25	

Debt Service Amortization schedule 2016 A3	

26	

Debt Service Funds 2019	

27	

Debt Service Amortization schedule 2019	

28	

Assessments	

	South Village CDD FY2027 Budget Summary	

Revenue	Expenses	Variance	
District Totals	8,448,414	8,125,452	322,962	

	Revenue	Expenses	Variance	
General Fund	Total	840,972	840,972	0	
Rec Fund	Assesments	1,376,969	0	1,376,969	
Athletic Center/Tennis	120,650	476,015	(355,365)	
Pool/Swim	65,000	330,574	(265,574)	
Village Café, Store & Cabana Bar	196,350	194,870	1,480	
Kids Club/Lake House	60,625	59,791	834	
Administrative	0	494,751	(494,751)	
Building Maintenance	0	263,593	(263,593)	
Total	1,819,594	1,819,594	0	
Golf Fund	Golf Ops	2,373,290	1,009,310	1,363,980	
Golf F&B	1,879,826	1,891,956	(12,130)	
Golf Maint	0	1,079,695	(1,079,695)	
Club Maint	0	81,350	(81,350)	
Golf G&A	646,049	744,075	(98,026)	
Total	4,899,165	4,806,386	92,779	
Capital Reserve	Total	888,683	658,500	230,183	

	Revenue	Expenses	Variance	
Debt Service	2016 A1/A2	1,477,362	1,456,256	21,105	
	2016 A3	274,807	267,825	6,982	
	2019	223,713	220,885	2,828	

Summary of Assessments:	
FY2027	Net	Gross	Net Per Unit	Gross per Unit	
General Fund	$796,097.45	$846,912.18	$532.86	$566.88	
Capital Reserve	$848,682.84	$902,854.08	$568.06	$604.32	
Golf - Included in CR	$0.00	$0.00	$0.00	$0.00	
Rec Fund	$1,376,969.00	$1,464,860.64	$921.67	$980.50	
Total	$3,021,749.29	$3,214,626.90	$2,022.59	$2,151.69	
FY2026	Net	Gross	Net Per Unit	Gross per Unit	
General Fund	$796,098.86	$846,913.68	$532.86	$566.88	
Capital Reserve	$764,421.24	$813,214.08	$511.66	$544.32	
Golf - Included in CR	$0.00	$0.00	$0.00	$0.00	
Rec Fund	$1,143,399.00	$1,216,381.91	$821.72	$874.17	
Total	$2,703,919.10	$2,876,509.68	$1,866.24	$1,985.37	
Increase/(Decrease)	
General Fund	$0.00	$0.00	$0.00	$0.00	
Capital Reserve	$84,261.60	$89,640.00	$56.40	$60.00	
Golf - Included in CR	$0.00	$0.00	$0.00	$0.00	
Rec Fund	$233,570.00	$248,478.72	$99.95	$106.33	
Total	$317,831.60	$338,118.72	$156.35	$166.32	

Approved Budget General Fund

	Adopted Budget	
Actuals Thru	Approved Budget	
Description	FY2026	4/30/26	FY 2027	

REVENUES:				
Special Assessments - On Roll	$796,099	$786,956	$796,097	
Interest Income	30,000	21,953	44,875	
TOTAL REVENUES	$826,099	$808,909	$840,972	

EXPENDITURES:				
Administrative				
Supervisor Fees	$13,000	$5,600	$13,000	
FICA Taxes	995	428	995	
Engineering	10,000	1,646	10,000	
Arbitrage Rebate	1,800	-	1,800	
Dissemination Agent	10,029	5,850	10,530	
Assessment Administration	6,253	6,253	6,565	
Attorney	35,000	11,291	35,000	
Annual Audit	8,500	-	8,500	
Trustee Fees	14,840	4,445	14,840	
Management Fees	61,348	35,786	65,029	
Information Technology	2,123	1,238	2,229	
Website Maintenance	1,336	779	1,402	
Telephone	1,500	219	1,500	
Postage & Delivery	1,000	445	1,000	
Insurance General Liability	23,761	21,917	24,949	
Printing & Binding	2,000	456	2,000	
Legal Advertising	4,000	334	4,000	
Other Current Charges	2,500	998	2,500	
Office Supplies	100	11	100	
Dues, Licenses & Subscriptions	175	175	175	
Contingency	500	-	500	
TOTAL ADMINISTRATIVE	$200,759	$97,872	$206,615	

Operations & Maintenance				
Security	$83,663	$37,188	$94,859	
Utilities	118,223	38,339	106,768	
Landscape - Contract	295,162	152,416	307,087	
Landscape - Contingency	45,000	2,400	38,000	
Landscape - Irrigation Repairs	15,000	600	15,000	
Repairs & Maintenance	33,293	1,670	35,100	
Lake - Contract	35,000	17,172	37,544	
TOTAL OPERATIONS & MAINTENANCE	$625,340	$249,785	$634,358	
				
TOTAL EXPENDITURES	$826,099	$347,657	$840,972	
				
EXCESS REVENUES (EXPENDITURES)	$0	$461,252	$-	

REVENUES

Special Assessments - On Roll
The District will levy a Non-Ad Valorem assessment on all the platted lots within the District to pay all of the operating expenses for the Fiscal Year in accordance with the adopted budget.
Interest Income

Expenditures - Administrative

Interest income on funds in operating account and excess funds in the State Board of Administration.

Supervisors Fees
The District anticipates 12 meetings per year with all five board members in attendance and each receiving $200.00 per meeting plus payroll taxes.
FICA Taxes
Represents the taxes on board payroll.
Engineering
The District's engineer will be providing general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review invoices, and various projects assigned as directed by the board of supervisors.
District Attorney
The District's legal counsel, Kutak Rock LLP., will be providing general legal services to the District, including attendance and preparation for monthly meetings, preparation and review of agreements, resolutions, etc.
Annual Audit
The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm. The District is currently contracted with Berger, Toombs, Elam, Gaines & Frank, CPA for the audit engagement.
Assessment Roll
Assessment Roll administrative services are provided by GMS, LLC for updating the districts’ tax roll, certifying the annual assessments and collection of prepaid assessments.
Arbitrage Rebate
The District is required to have an Arbitrage Rebate Calculation on the District’s Series 2014 A1/A2 and A3 Special Assessment Revenue Refunding Bonds.
Dissemination Agent
The District has contracted with GMS, LLC to act as the Dissemination Agent for the District to prepare the Annual Disclosure Report required by the Security and Exchange Commission in order to comply with Rule 15(c)(2)-12(b)(5), which relates to additional reporting requirements for un-rated bond issues.
Trustee Fees
The District’s Series 2016A1/A2, A3 and 2019 Special Assessment Revenue Refunding Bonds are held by a Trustee at U.S. Bank. The amount represents the fee for the administration of the District’s bond issue.
District Management/Administration Fees
The District receives Management, Accounting and Administrative services from their CDD employed District Manager and as part of an Administrative Agreement with Governmental Management Services, LLC.
Information Technology
The District processes all of its financial activities, i.e. accounts payable, financial statements, etc. on a main frame computer leased by Governmental Management Services – South Florida, LLC.

Expenditures - Administrative (continued)

Website Administration
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.
Telephone
This item includes telephone and fax service.
Postage and Delivery
Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc.
Insurance General Liability
The District's General Liability & Public Officials Liability and Property Insurance policies are with Egis Insurance and Risk Advisors. They specialize in providing insurance coverage to governmental agencies. This expense is shared with the Water/Sewer Fund and the Golf Course Fund.
Printing and 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. with Clay Today.
Other Current Charges
Bank charges and any other miscellaneous expenses incurred during the year.
Office Supplies
Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects.
Due, Licenses & Subscriptions
The District is required to pay an annual fee to Florida Commerce for $175.

Expenditures – Operations & Maintenance

Security
The District has contracted with S3 Security for patrols of the CDD property. Amount includes contingency for extra holiday patrols.

Schedule	Time Period	Annual Hours	Rate	Total	
Regular	Bi-weekly (98 hours)	2548	$	27.95	$	71,216.60	
Holidays	$125/day surcharge ( days)		$	125.00	$	1,125.00	
On-Site Vehicle	Monthly		$	1,500.00	$	18,000.00	
		Contingency (5%)		$	4,517.08	
$	94,858.68
Utilities
The District currently has the following accounts with Clay Electric Cooperative for electric service:

Account #	Service Address	Avg/Month	Annual	
8966956	1-886 Oakleaf Plantation Pkwy Irr	$41.70	$500.42	
8966959	1433-1 Eagle Crossing Dr Restroom	$58.17	$698.03	
9082354	875 TB Irrigation	$344.48	$4,133.76	
9117336	992 TB Camera Station	$41.70	$500.38	
9117339	749 TB Camera Station	$43.02	$516.18	
9117340	3853 Pines Dr Camera Station	$38.90	$466.76	
9121614	938 TB Restroom	$47.64	$571.68	
9266469	3935-2 Eagle Landing/St lights	$86.12	$1,033.46	
9266477	3935-1 Eagle Landing/Water Fall	$1,366.55	$16,398.65	
9266478	4045-2 Eagle Crossing Dr	$63.25	$758.96	
		$2,131.52	$25,578.28	

In addition, the District has the following accounts with Clay County Utility Authority for water, sewer and reuse service:

Account #	Service Address	R = Reclaimed, P = Potable	Avg/Month	Annual	
213095	3924-1 Eagle Landing Pkwy	R - Main Front Entrance/EL Pkwy	$652.19	$7,826.24	
213119	3988-1 Eagle Landing Parkway	R - EL Pkwy, Closest to Golf Club	$143.75	$1,725.00	
215602	3968-1 Eagle Landing Parkway	R - EL Pkwy, Near Hole #11 Green	$182.82	$2,193.85	
220803	3973 Eagle Landing Parkway	R - Near Sales Center	$336.57	$4,038.86	
222067	3989 Eagle Landing Parkway	P - Golf Club	$1,138.46	$13,661.50	
229064	3979-2 Eagle Landing Parkway	P - Irrigation and Tennis Court Irrigation	$1,448.74	$17,384.84	
230632	3965-1 Eagle Landing Parkway	P - Pool Tank	$269.93	$3,239.18	
230638	3965-2 Eagle Landing Parkway	P - Pool Deck Irrigation	$122.26	$1,467.14	
230640	3965-3 Eagle Landing Parkway	P - Pool Tank	$144.02	$1,728.18	
230641	3975 Eagle Landing Parkway	P - Resident's Club Building	$323.43	$3,881.18	
230642	3979 Eagle Landing Parkway	P - Athletic Center Building	$243.55	$2,922.55	
235500	4108-1 Eagle Landing Parkway Irr	R - Oakmont Pond Common Area	$114.85	$1,378.18	
233750	1433-1 Eagle Landing Parkway	R - Eagle Crossing RR Common Area	$137.48	$1,649.71	
502768	2180 Club Lake Drive Reclaimed Irr	R - Park w/ Jennings State Forest Entr	$40.42	$485.08	
556739	1294 Autumn Pines Drive	R - Park with Shade Cover on AP	$0.00	$0.00	
589114	932 Tynes Blvd	P - Lake Park Restroom Building	$30.18	$362.19	
589118	932 Tynes Blvd - Recl Irr	R - Lake Park and Tynes Blvd	$141.02	$1,692.21	
589635	988 Tynes Blvd - Recl Irr	R - Pocket Park closest to Two Creeks	$155.60	$1,867.17	
589637	953 Tynes Blvd - Recl Irr	R - Pocket Park across from Lake Park	$126.53	$1,518.38	
589665	1003 Oakland Hills - Recl Irr	R - Pocket Park on Oakland Hills/Spyglass	$49.94	$599.28	
	Contingency		$155.23	$1,862.79	
			$5,956.96	$71,483.51	

Landscape
This represents landscape maintenance of all District property, to include mowing, weeding, trimming, pruning, fertilizing etc. The District is contracted with Ruppert Companies, LLC. Amount budgeted includes a contingency.
Landscape - Irrigation Repairs
This represents repairs to the District’s irrigation systems which are not already included in contract with Ruppert Companies, LLC.
Lake Maintenance
The District has contracted with The Lake Doctors for the maintenance of the CDD lakes.

	Adopted Budget	
Actuals Thru	Approved Budget	
Description	FY2026	4/30/26	FY 2027	

REVENUES:				
Athletic Center/Tennis				
Guest Fees	$14,100	$7,696	$19,000	
Pro shop	13,000	4,331	15,400	
Fitness	8,000	4,343	17,750	
Lessons & Clinics	78,000	15,152	68,500	
Sub Total Athletic Center/Tennis	$113,100	$31,522	$120,650	

Swim Park & Resident Club				
Guest Fees	$32,000	$15,792	$9,850	
Swim Lessons	8,000	-	7,650	
Clubroom Rentals	30,000	12,670	30,000	
Swim Team	15,500	-	17,500	
Sub Total Swim Park & Resident Club	$85,500	$28,462	$65,000	

Village Café, Store, and Cabana Bar				
Food	$100,000	$12,782	$101,775	
NA Other	-	-	6,375	
Beer	35,000	3,680	21,375	
Wine	3,000	91	1,375	
Liquor	95,100	15,323	63,400	
Merchandise	-	-	2,050	
Sub Total Village Café, Store, and Cabana Bar	$233,100	$31,876	$196,350	

Kids Club/Lake House:				
Kids Club Rentals	$1,000	$-	$3,775	
Summer Camp and Kids Club Programs	56,550	2,621	56,850	
Sub Total Kids Club/Lake House:	$57,550	$2,621	$60,625	

Non Operating Income:				
Rec Fund Assessments	$1,227,655	$1,227,655	$1,376,969	
Sub Total Non Operating Income:	$1,227,655	$1,227,655	$1,376,969	
				
TOTAL REVENUES	$1,716,905	$1,322,136	$1,819,594	

	Adopted Budget	
Actuals Thru	Approved Budget	
Description	FY2026	4/30/26	FY 2027	

OPERATING EXPENSES				
Athletic Center / Tennis				
Payroll	$279,279	$142,150	$266,151	
Payroll Cost	53,142	29,666	124,952	
COGS	9,750	771	8,509	
Bank & CC Fees	-	-	2,243	
Tournament Expense	600	149	2,300	
Cleaning & Operating Supplies	24,959	20,234	11,690	
Utilities, Telephone, & Internet	-	18,719	29,860	
Cable TV & Music	6,000	4,884	4,200	
Uniforms	-	-	850	
R&M Courts, Equip. & Building	54,150	11,366	25,260	
Sub Total Athletic Center / Tennis	$427,880	$227,939	$476,015	

Pool/Swim:		-		
Payroll	$208,042	$83,570	$188,620	
Payroll Cost	34,166	16,104	42,689	
Bank & CC Fees	3,960	-	1,300	
Utilities, Telephone, & Internet	53,000	16,541	18,830	
Gas	6,150	13,145	4,350	
R&M Pool, Equip. & Building	16,500	1,068	10,625	
Chemicals	46,800	31,301	49,260	
Uniforms	-	-	600	
Cleaning & Operating Supplies	7,000	1,557	6,650	
Swim Team Cost	4,000	728	6,300	
Permits, Dues & License	1,000	-	1,350	
Sub Total Pool/Swim:	$380,618	$164,014	$330,574	
		-		
Village Café, Store, and Cabana Bar				
Gross Payroll	$88,876	$25,216	$79,206	
Payroll Cost	14,411	5,024	15,445	
COGS	103,300	8,441	76,487	
Bank & CC Fees	2,074	-	3,927	
Gas	6,532	518	2,550	
R&M Equipment & Building	2,000	2,429	3,400	
Professional Services	6,800	938	3,050	
Cleaning & Operating Supplies	15,750	3,069	10,555	
Uniforms	1,000	-	250	
Sub Total Village Café, Store, and Cabana Bar	$240,743	$45,635	$194,870	

	Adopted Budget	
Actuals Thru	Approved Budget	
Description	FY2026	4/30/26	FY 2027	

Administrative				
Gross Payroll	$107,668	$69,111	$116,098	
Payroll Cost	30,900	27,375	31,113	
Bank CC Fees	12,000	5,277	2,700	
Insurance	42,000	3,636	87,000	
Professional Services	-	-	3,000	
Employee Food Discounts	-	2,396	5,200	
Dues & Subscriptions, Travel & Education	-	-	5,950	
Fees, Permits, & Licenses	1,000	(30)	4,850	
Plants, Flowers, & Decorations	2,000	117	1,600	
Cleaning & Operating Supplies	29,200	10,819	6,530	
Computer Related & IT	12,000	10,579	26,860	
Waste Removal	-	4,825	12,900	
Cable TV & Music	5,100	313	3,000	
Utilities, Telephone, & Internet	6,000	14,682	35,950	
Management Fees	56,000	76,298	97,330	
Marketing & Member Relations	84,000	27,907	54,670	
Sub Total Administrative	$387,868	$253,305	$494,751	

Building Maintenance				
Gross Payroll	$143,214	$72,266	$175,232	
Payroll Cost	27,482	12,122	39,301	
Professional Services	3,600	2,971	25,060	
Cleaning & Operating Supplies	-	-	4,500	
T&E (Mileage)	-	-	1,800	
R&M Electrical & Mechanical	19,740	8,586	13,200	
R&M Paths, Walls, Community	7,150	1,600	2,000	
Landscape	-	-	2,100	
Uniforms	-	-	400	
Sub Total Building Maintenance	$201,186	$97,545	$263,593	

Lake House/Kids Club:				
Gross Payroll	$39,364	$2,783	$29,565	
Payroll Cost	9,447	327	5,026	
Uniforms	-	-	300	
Equipment Rental & R&M	799	-	4,600	
Member Relations	20,500	2,210	14,250	
Cleaning & Operating Supplies	8,500	766	6,050	
Sub Total Lake House/Kids Club:	$78,610	$6,086	$59,791	
				
TOTAL OPERATING EXPENSES	$1,716,905	$794,524	$1,819,594	
				
EXCESS REVENUES (EXPENDITURES)	$-	$527,612	$-	

REVENUES	DESCRIPTION

Athletic Center
Guest Fees

Fees collected for non-resident usage of Athletic Center facilities, fitness & Athletic Center programs while accompanied with a resident.

Pro shop	The sale of drinks, Athletic Center balls, apparel and equipment.

Fitness

Lessons & Clinics

Rental funds collected from vendors: Ship Shape Strong, LLC for TRX classes, Spincitas for Spin classes, Dance Fitness and TyFit for Boot Camp.
Funds collected from patrons of private tennis/pickleball lessons & group clinics given by Troon staff.

Merch COGS	Cost of goods sold for drinks, Athletic Center balls, apparel and equipment.

POOLS

Guest Fees
Swim Lessons Rentals
Clubroom Rentals Swim Team

Funds collected for non-resident usage of the Swim Park while accompanied with a resident. Funds collected for private, semi-private and group swim lessons given by Troon staff.
Funds collected from resident rentals of the Café Patio and Village Green for parties and events. Funds collected from resident rentals of the Clubroom for parties and events.
Registration fees for our summer swim team Eagle Rays.

CAFÉ

Food	Sales of food, drinks and ice cream.
Merchandise	Candy sales from the Village Store.
Cafe Beer	Beer sold from the Café.
Staff Discount	Discounts provided to Troon Staff while on duty.

CABANA BAR
Cabana Bar Wine	Wine sales from the Cabana Bar.
Cabana Bar Liquor	Liquor based drinks sold from the Cabana Bar.
Cabana Bar Beer	Beer sold from the Cabana Bar.

KIDS CLUB/LAKE HOUSE
Facility Rentals	Funds collected from resident rentals of the Kids Club for parties and events.
Programs	Fees collected from kid events such as Kids Only Parties.
Summer Camp	Funds collected for camp participants while school is not in session.

Social Programs Holiday Events

MAINTENANCE ASSESSMENTS

Funds collected from certain Family Events.
Easter basket delivery, candy grams and other Holiday events with a fee.

The District will assess the platted lots within the District to fund a portion of the District's Operating Budget for the fiscal year.

EXPENSES	DESCRIPTION

Athletic Center

Gross Payroll

Salaries for Athletic Center Director, Assistant Athletic Center Pro, Pickleball Director, Front Desk, Floating Position and Social Membership Coordinator.

Payroll Cost	Payroll processing fees including Benefits and 401k.
Bank CC Fees	Fees due to credit card company for processing of charges.
Cable/TV/Music	Monthly charges for Comcast MDTA, YouTube TV and Pandora.
Electric/Utilities	Electricity for the Athletic Center, Clay Electric. EQ Repairs and Maintenance	Repair costs for fitness equipment.
Court Maint.	Costs for clay, windscreens, nets/posts, various equipment/tools and light bulbs on the court.

Waste Removal	Dumpster service through GFL.
Office Supplies/Paper/Stationary	Pens, paper, printing supplies, folders and small equipment.
Paper & Cleaning	Cleaning solutions, paper towels, toilet paper and equipment wipes.
Building Supplies	Various needs to operated the Athletic Center.
Rec Supplies	Replacements basketball nets, balls, racquets.

POOL/SWIM
Gross Payroll

Salaries for Aquatics Coordinator, Front Desk, Lifeguards, Swim Coaches and Instructors.

Payroll Cost	Payroll processing fees including Benefits and 401k.
Bank & CC Fees	Fees due to credit card company for processing of charges.

Water & Sewer/Utilities

CCUA water charges for the pools and Clay Electric service for the pools and Resident's Club.

Gas	Sharp Energy Gas charges to heat the Adult Pool.
Repairs & Maint. Pool	Repairs made to pool equipment, the pools, waterslide/diving boards. Chemicals Pool	Agreement with Poolsure to provide chemicals and feed equipment. Miscellaneous Expenses	Any odd expense that doesn’t fit appropriately elsewhere.
Contract Service	Charges for when vendors are needed.
Cleaning Supplies	Paper towels, toilet paper, hand soap, cleaning solutions and equipment.

Swim Team Cost

T-shirts, caps, trophies, banquet food and software/equipment, league fees to First Coast Summer Swim League for Eagle Rays summer swim team.

Office Supplies	Pens, receipt paper, ink, tape, envelopes, etc.
Recreational Supplies	Pool floats, balls, toys, ping pong and billiard equipment.
Uniforms	Uniforms and equipment needed for Lifeguards and staff.
Permits	Pool Operating permit fees for four pools through State of FL DOH.

CAFÉ

Gross Payroll	Wages for Café/Store counter staff, cooks and Cabana Bar bartender & bar back.
Payroll Cost	Payroll processing fees including Benefits and 401k. Alcohol Surcharge
Pest Control	Monthly pest control services for Café provided by Ecolab.
Cable/TV	Comcast cable service to Café and Patio

Gas	Gas for kitchen provided by Sharp Energy. Propane tanks refilled for Cabana patio heaters.
Repairs & Maint.	Any repairs to café area and equipment.
Bank CC Fees	Fees due to credit card company for processing of charges.
Paper Goods Supplies	Cups, paper towels, food trays and utensils.
Rec Supplies/Cleaning Supplies	Sanitizers, soaps, small wares. GFL provides dumpster services. Food/Bev/Liquor COGS	Cost of food, NABV, and alcohol.
Store Merchandise COGS	Cost of Candy for Village Store.
Staff Uniforms	Uniforms for Café Staff
Permits	Seating License and Liquor License for Café

CABANA BAR
Gross Payroll	Wages for Cabana Bar bartender & bar back
Payroll Cost	Payroll processing fees including Benefits and 401k.
Alcohol Surcharge	Delivery and miscellaneous costs
Pest Control	Monthly pest control services for Cabana provided by Ecolab.
Gas	Propane tanks refilled for Cabana patio heaters.
Paper Goods Supplies	Cups, paper towels, food trays and utensils. Rec Supplies/Cleaning Supplies	Sanitizers, soaps, small wares.
Food/Bev/Liquor COGS	Cost of food, NABV, and alcohol.
Staff Uniforms	Uniforms for Cabana Bar staff
Permits	Seating License and Liquor License for Cabana Bar.

EXPENSES	DESCRIPTION

ADMINISTRATIVE
Gross Payroll	Salaries for Administrative Staff.
Payroll Cost	Payroll processing fees including Benefits and 401k.
Bank CC Fees	Fees due to credit card company for processing of charges.
Insurance	Amenity property insurance.
Resident Relations	Cost for resident mixers and other community events.
Permits/Fees	Music licensing permits
Décor	Seasonal Holiday Decorations.
Print/Paper/Stationary	Printing costs and office supplies.
Computer/Jonas	Fees for IT Support and Jonas POS software.
Operational Supplies All Areas/Waste	Supplies and Waste Removal to support all REC operations. Telephone/internet	RingCentral phone system and Comcast Internet.
TV/Music	Comcast TV services and Pandor Music costs.
All Marketing/Manager Meals	Members First Website and various software subscriptions to create materials for marketing. Management Fees	Management Fees to Troon.

BUILDING MAINTENANCE
Gross Payroll	Gross Payroll
Payroll Cost	Payroll Cost
Contract Service	Contract Service
Maint Building Kids/Lake	Maint Building Kids/Lake Repairs & Maintenance Tennis	Repairs & Maintenance Tennis Landscape	Landscape
Building Repair Swim/Café/Cabana Bar	Building Repair Swim/Café/Cabana Bar Staff Uniforms	Staff Uniforms

LAKE HOUSE/KIDS CLUB
Gross Payroll	Salaries for Camp Counselors and Event Staff.
Payroll Cost	Payroll processing fees including Benefits and 401k.
Bank CC Fees	Fees due to credit card company for processing of charges.
Equipment Rental	Helium tank rental to fill balloons for events.
Holiday Events	Costs for major Holiday events including Christmas Carnival and Easter Extravaganza. Summer Camp Expenses/Supplies	Costs for Summer Camp supplies including crafts, games and snacks.
Social Events/Expenses	Costs for all other events and parties throughout the year.

	Adopted Budget	
Actuals Thru	Approved Budget	
Description	FY2026	4/30/26	FY 2027	

REVENUES:				
Golf Operations				
Guest Fees & Tournament Fees	$1,752,414	$988,672	$1,860,095	
Member Trail Fees	150,000	78,945	197,100	
Pro shop Merchandise	224,130	114,173	232,065	
Driving Range, Rentals, and Misc.	86,100	43,340
-	84,030	
Sub Total Golf Operations	$2,212,644	$1,225,130	$2,373,290	

Golf F&B				
Food	$1,273,300	$550,749	$1,090,537	
Beer	314,882	106,219	221,515	
Wine	59,022	20,129	25,559	
Liquor	232,262	193,165	340,793	
NA & Tobacco	-	-	26,752	
Banquet Gross Sales	24,174	94,390	156,370	
Banquet Rental			18,300	
Sub Total Golf F&B	$1,903,640	$964,652	$1,879,826	

Golf G&A				
All Member Dues	$597,000	$372,563	$623,149	
Initiation Fees	12,000	13,150	22,900	
Sub Total Golf G&A	$609,000	$385,713	$646,049	
				
TOTAL REVENUES	$4,725,284	$2,575,495	$4,899,165	

OPERATING EXPENSES				
Golf Operations				
Payroll	$440,402	$227,948	$451,276	
Payroll Costs	69,060	40,272	110,760	
COGS	166,290	75,580	161,404	
Bank & CC Fees	49,784	36,101	55,320	
Cart Lease and R&M	146,400	97,765	152,250	
Dues, Subscriptions, and Professional Fees	10,200	8,375	20,750	
Tournament Expenses	12,000	6,530	19,200	
Reservation/Tee Sheet Systems	10,500	6,638	9,000	
Supplies and Misc.	39,500	20,446	26,000	
Staff Uniforms	3,000	1,176	3,350	
Sub Total Golf Operations	$947,136	$520,831	$1,009,310	

	Adopted Budget	
Actuals Thru	Approved Budget	
Description	FY2026	4/30/26	FY 2027	
		
-		
Golf F&B				
Payroll	$871,613	$513,847	$833,804	
Payroll Cost	180,353	149,896	211,719	
COGS	666,551	390,390	693,046	
Bank & CC Fees	51,767	35,835	56,057	
Cleaning & Operating Supplies	33,650	15,692	21,450	
Professional Services	9,000	4,029	2,000	
Gas & Propane	33,000	18,530	33,200	
Linen Service	18,600	12,580	21,350	
Paper Goods	14,800	10,809	7,750	
Staff Uniforms	4,000	923	2,400	
Equipment Leases / R&M	4,500	4,247	9,180	
Sub Total Golf F&B	$1,887,834	$1,156,778	$1,891,956	
		-		
Golf Course Maintenance				
Gross Payroll	$510,466	$262,256	$512,368	
Payroll Cost	101,770	58,162	121,657	
Fertilizer & Chemicals	151,500	112,195	155,925	
Gas	43,600	20,079	22,800	
Sand & Gravel	10,000	14,901	8,250	
Sod, Seed, & Mulch	3,500	10,349	13,000	
Professional Services	500	-	14,500	
Dues & Subscriptions	4,000	-	1,500	
Operatings Supplies	3,500	1,063	9,365	
Uniforms	3,000	267	1,700	
Waste Removal	9,000	1,128	3,000	
Equipment Lease and Rentals, R&M	192,850	99,327	166,150	
Utilities	47,300	23,115	49,480	
Sub Total Golf Course Maintenance	$1,080,986	$602,842	$1,079,695	

Golf Clubhouse Maintenance				
Payroll Cost	$33,000	$23,493	$30,000	
Payroll Cost	4,950	3,618	7,300	
Professional Services	-	-	15,600	
Plants, Flowers, Decorations	1,250	546	2,600	
R&M Building & Equipment	-	-	3,900	
Cleaning & Operating Supplies	6,000	3,019	21,950	
Sub Total Golf Clubhouse Maintenance	$45,200	$30,676	$81,350	

	Adopted Budget	
Actuals Thru	Approved Budget	
Description	FY2026	4/30/26	FY 2027	

Golf G&A				
Gross Payroll	$155,828	$89,932	$189,672	
Payroll Cost	29,374	26,811	45,323	
Bank Fees & CC Fees	900	13,084	5,760	
Pest Control & Waste Removal	26,400	4,170	18,900	
Dues & Subscriptions, Travel & Education	46,150	11,512	6,775	
Equipment Lease (Printer)	4,800	1,396	4,200	
Insurance	108,000	40,187	129,000	
Licenses, Permits, & Legal Fees	3,000	-	2,800	
Management Fees	132,000	76,820	97,020	
Property Tax	43,300	42,318	37,800	
Computer Related & IT	15,600	21,940	14,835	
Office Supplies, Printing, Postage, & Misc.	42,300	16,905	17,260	
Employee Food Discounts		23,936	39,200	
Utilities, Telephone, & Internet	34,800	14,407	50,400	
Cable TV & Music	65,400	35,906	13,440	
Marketing & Member Relations	73,000	18,158	71,690	
Sub Total Golf G&A	$780,852	$437,482	$744,075	
				
TOTAL OPERATING EXPENSES	$4,742,008	$2,748,609	$4,806,386	
				
NET OPERATING INCOME	$(16,724)	$(173,114)	$92,779	

Non-Operating Revenues/(Expenses)				
Interfund Transfer	$105,000	$-	$-	
TOTAL NON-OPERATING REVENUES/(EXPENSES)	$105,000	$-	$-	
				
EXCESS REVENUES (EXPENDITURES)	$88,276	$(173,114)	$92,779	

REVENUES	DESCRIPTION

GOLF OPERATION
Guest Fees & Tournament Fees	Greens Fees, Tournament Fees, Public Cart Rentals, and Events. Member Trail Fees	All Member Trail Fees, Annual and Monthly.
Pro Shop Merchandise	All Golf Shop Merchandise Sales.
Practice Range	All Public Driving Range Sales.
Misc. Revenues	All Miscellaneous Income, Club Rentals, Lessons.

GOLF F&B
F&B/Banquet Revenues	Food and Beverage Golf & Social Event Sales.
Beer	All Beer Sales.
Wine	All Wine Sales.
Alcohol	All Liquor Sales.
Misc./rentals	Room Fees, Misc. Revenues.

GOLF COURSE & CLUBHOUSE MAINTENANCE
Misc. Revenues/Equipment Trade-In	Revenue generated by any equipment sold.

GOLF G&A
All Member Dues	Golf Members and Player's Club Annual Dues.
Initiation Fees	Golf Member Initiation Fees.

EXPENSES	DESCRIPTION

GOLF OPERATIONS
Gross Payroll	Salaries related to all management staff, salary, hourly, gratuities, incentives.
Payroll Cost	Monthly fees related to the processing of all payroll, benefits, 401K.
COGS Merchandise	Cost of golf shop merchandise sold.
Bank & CC Fees	Fees due to credit card company for processing of charges.
Cart Lease & Repairs & Supplies	Lease of golf carts from EZGO, cart repairs.
Staff Dues & Handicap Fees	PGA, agronomy, professional dues and member handicap fees.
Paper Goods	Operational paper supplies such as paper towels, plates, napkins, toilet paper, etc. Reservation/Tee Sheet Systems	License cost for point of sale, web-site, Jonas software, and reservation system. Range Balls & Supplies	Driving range operating supplies, range balls, ball washer, misc. supplies.
Scorecards & Pro Shop Supplies	Golf course scorecards, misc hardware, fixtures, display units. Staff Uniforms	Staff uniforms for all areas and staff.
Member Relations	Cost related to all annual promotions for residents in tennis, swim, golf, and park.

GOLF F&B
Gross Payroll	Salaries related to all management staff, salary, hourly, gratuities, incentives.
Payroll Cost	Monthly fees related to the processing of all payroll, benefits, 401K.
COGS F&B	Cost of all food and beverage, beer, wine, liquor sold.
Alcohol Surcharge	Delivery and misc. cost.
Bank & CC Fees	Fees due to credit card company for processing of charges.
China/Glass/Silver	Replacement China, glass, and silverware, new purchases.
Cleaning/Operating Supplies	General clubhouse related cleaning supplies all areas.
Contract Service	Contract Service to clean grease traps, vents, ice machines.
Gas & Propane	Natural gas a propane, patio heaters, kitchen equipment.
Kitchen/Bar Supplies	General cleaning supplies, service items, hardware.
Linen Service	Rental costs for linen and laundry related to cloth napkins, table cloths, etc.
Paper Goods	Operational paper supplies such as paper towels, plates, napkins, toilet paper, etc.
Staff Uniforms	Staff uniforms for all areas and staff.
Equipment Repairs/Rentals	Repair and maintenance of all kitchen equipment.
Resident/Member Relations/Marketing	Cost related to all annual promotions for residents in tennis, swim, golf, and park. Utilities	Electricity for all areas.

EXPENSES	DESCRIPTION

GOLF COURSE MAINTENANCE
Gross Payroll	Salaries related to all management staff, salary, hourly, incentives.
Payroll Cost	Monthly fees related to the processing of all payroll, benefits, 401K.
Fert/Chem/Herb	Turf related fertilizers, chemicals, pesticides, herbicides.
Gas/Oil/Grease	Gasoline and oil purchase and disposal for all maintenance equipment. Sand/Grave/\l/Top Dressing	Sand for bunkers maintenance, greens topdressing, pine straw and coquina. Sod/Plants/Landscaping	Sod and seed related to needed turf repair.
Straw/Mulch/Coquina/Color	Pine straw, stone, and coquina.
Accessories/Small Tools	On course items such as tee markers, flags, cups.
Staff Uniforms/Dues	Staff uniforms for all areas and staff.
Waste Removal	Monthly charges trash bins at clubhouse and maintenance yard for disposal.
Equipment Leases/Rentals	Lease of golf course maintenance equipment. Equipment/Irrigation Repairs	Repair and maintenance of golf course irrigation system. Irrigation Utilities/Telephone/Building Utilities  Electricity to operate irrigation pump, buildings, offices. Water/Sewer	Irrigation and potable water expense.

GOLF CLUBHOUSE MAINTENANCE
Gross Payroll	Salaries related to all management staff, salary, hourly, incentives.
Payroll Cost	Monthly fees related to the processing of all payroll, benefits, 401K.
Contract Services	Contract Service for additional projects.
Holiday/Plants	All holiday & seasonal décor for clubhouse.
Building Repairs Vendors	Repair and maintenance of golf clubhouse.
Misc. Cleaning Supplies	General clubhouse related cleaning supplies.
Paper Supplies/Misc. Supplies	Operational paper supplies such as paper towels, toilet paper, etc. Building Repairs In-House	Repair and maintenance of the clubhouse.

GOLF G&A
Gross Payroll	Salaries related to all management staff, salary, hourly, incentives.
Payroll Cost	Monthly fees related to the processing of all payroll, benefits, 401K.
Contract Service Cleaning	Contract Service to Clean Clubhouse, HVAC, windows.
Misc./Dues/Subscriptions	Various dues for staff and print material.
Bank Fees/CC Fees	Fees due to credit card company for processing of charges.
Equipment Rental	Service agreement for copier, misc. rentals.
Flowers/Décor	All holiday & seasonal décor for clubhouse.
Property Insurance	Property and casualty insurance for the property.
Legal Fees	Management of licenses, permits, and other legal matters.
Management Fees	Annual management fees for golf operations.
Member Relations	Cost related to all annual promotions for golf memberships. Paper Supplies/Stationary/Office Supplies	General office supplies for G&A, golf, and F&B. Permits/Property Tax	Tax related to golf clubs personal property and various permits.
Resident Appreciation	Cost related to all annual promotions for residents in tennis, swim, golf, and park. Software/Computer/Jonas	Internet provider and all hardware for computers, point of sale stations.
Travel/Mileage/Staff Meals/Seminars	Travel expense for staff business related to the operation. Telephone/Music/Dish	All telephone hardware and service costs.
Utilities/Waste Removal/Pest Control	Electricity for all areas, waste pickup, and pest control. Staff Training/Cost/Meals/Uniforms	Related cost for all staff training, daily meals and uniforms.
All Marketing Costs/Member Relations	Various marketing expenses and promotions for golf and social events.

Capital Reserve Fund

	Adopted Budget	Actuals Thru	Approved Budget	
Description	FY2026	4/30/26	FY 2027	

REVENUES:				
Special Assessments - On Roll	$764,421	$681,851	$848,683	
Initiation Fees	40,000	30,250	40,000	
Carry Forward Surplus	618,180	527,259	618,180	
TOTAL REVENUES	$1,422,601	$1,239,360	$1,506,863	

EXPENDITURES:				
Capital Outlay/Repair & Replacement	515,000	596,180	658,500	
TOTAL EXPENDITURES:	$515,000	$596,180	$658,500	

Other Sources/(Uses)				
Interfund Transfer In/(Out)	(105,000)	-	-	
TOTAL OTHER SOURCES/(USES)	$(105,000)	$-	$-	
				
EXCESS REVENUES (EXPENDITURES)	$802,601	$643,180	$848,363	

	FY2026 Proposed Projects		
Additional Equipment for Fitness	Vendor	$	40,000		
Locker Room Redo Fitness	Vendor	$	10,000		
Bridge/Monument Refurbishing	Vendor	$	25,000		
Parking Lot Patch/Repair/Seal/Striping Work	Vendor	$	100,000		
Repair/Replace Pool Pumps	Vendor	$	10,000		
Storm Water Repairs/Upkeep	Vendor	$	15,000		
Slide Recoat/Protect	Vendor	$	9,000		
Tree Work Throughout CDD Property	Vendor	$	25,000		
Special Projects/Needs for the Golf Course	Vendor	$	20,000		
Irrigation System Audit Upgrades Golf Course	Vendor	$	15,000		
Locker Room Redo Pools	Vendor	$	15,000		
New Security Cart For All CDD Property And Golf Course	Vendor	$	12,000		
Replace HVAC System REC	Vendor	$	45,000		
Replace HVAC System Golf	Vendor	$	20,000		
Paint Kids Club and Lake House	Vendor	$	30,000		
Additional Tables and Chairs For Pool Deck (Last Order)	Vendor	$	15,000		
Replace Light on Tennis Courts (4-Year Plan)	Vendor	$	20,000		
Golf Dumpster Gate Replacement	Vendor	$	4,000		
Cabinets/Tops all areas	Vendor	$	10,000		
Slide Support Structure Repair/Rebuild/Paint	Vendor	$	10,000		
Various small Projects During The Year REC	Staff	$	25,000		
Camera Improvements and Additions	Staff	$	10,000		
Golf Tracer Project Practice Range (Study/Bids 2026)	Vendor	$	5,000		
Various Golf Projects During The Year	Staff	 $	25,000 		
Total Projects For Fiscal year 25/26		$  515,000		

Debt Service Series 2016 A1/A2 Special Assessment Refunding Bonds

Description

Adopted
Budget	Actuals Thru
FY2026	4/30/26

Approved Budget FY 2027

REVENUES:

Special Assessments-On Roll	$1,477,362	$1,451,661	$1,477,362	
Prepayments	-	35,871	-	
Interest Earnings	-	36,376	-	
Carry Forward Surplus (1)	135,466	-	391,193	
TOTAL REVENUES	$1,612,828	$1,523,908	$1,868,555	

EXPENDITURES:				
Series 2016 A1 - Refunding Bonds				
Interest - 11/1	$138,406	$138,406	$128,206	
Special Call - 11/1	-	5,000	-	
Interest - 5/1	138,406	-	128,206	
Principal - 5/1	680,000	-	700,000	
Special Call - 5/1	-	-	-	
Series 2016 A1 - Revenue Bonds				
Interest - 11/1	56,344	56,344	56,344	
Interest - 5/1	56,344	-	56,344	
Series 2016 A2 - Refunding Bonds				
Interest - 11/1	65,004	65,004	60,328	
Special Call - 11/1	-	5,000	-	
Interest - 5/1	65,004	-	60,328	
Principal - 5/1	215,000	-	225,000	
Special Call - 5/1	-	-	-	
Series 2016 A2 - Revenue Bonds				
Interest - 11/1	20,750	20,750	20,750	
Interest - 5/1	20,750	-	20,750	
TOTAL EXPENDITURES	$1,456,008	$290,504	$1,456,256	

Other Sources/(Uses)

Interfund transfer In/(Out)	$-	$-	$-	
TOTAL OTHER SOURCES/(USES)	$-	$-	$-	
				
TOTAL EXPENDITURES	$1,456,008	$290,504	$1,456,256	
				
EXCESS REVENUES (EXPENDITURES)	$156,820	$1,233,404	$412,298	

(1) Carry Forward is Net of Reserve Requirement
$116,831
$56,344
$54,844
$20,750
$116,831

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

11/01/25	7,955,000	2.750%	-	138,406	946,065.63
05/01/26	7,955,000	2.750%	680,000	138,406	
11/01/26	7,275,000	3.000%	-	128,206	946,612.50
05/01/27	7,275,000	3.000%	700,000	128,206	
11/01/27	6,575,000	3.250%	-	116,831	945,037.50	
05/01/28	6,575,000	3.250%	725,000	116,831		
11/01/28	5,850,000	3.500%	-	104,144	945,975.00	
05/01/29	5,850,000	3.500%	750,000	104,144		
11/01/29	5,100,000	3.500%	-	91,019	945,162.50	
05/01/30	5,100,000	3.500%	775,000	91,019		
11/01/30	4,325,000	3.500%	-	77,456	943,475.00	
05/01/31	4,325,000	3.500%	805,000	77,456		
11/01/31	3,520,000	3.500%	-	63,369	945,825.00	
05/01/32	3,520,000	3.500%	835,000	63,369		
11/01/32	2,685,000	3.625%	-	48,756	947,125.00	
05/01/33	2,685,000	3.625%	865,000	48,756		
11/01/33	1,820,000	3.625%	-	33,078	946,834.38	
05/01/34	1,820,000	3.625%	895,000	33,078		
11/01/34	925,000	3.625%	-	16,856	944,934.38	
05/01/35	925,000	3.625%	930,000	16,856	-	
					946,856.25	
Total	$7,960,000	$1,636,244	$10,403,903	
**Updated for 5/1/25 Special Call

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

11/01/25	3,005,000	3.750%	-	56,344	56,343.75
05/01/26	3,005,000	3.750%	-	56,344	
11/01/26	3,005,000	3.750%	-	56,344	112,687.50
05/01/27	3,005,000	3.750%	-	56,344	
11/01/27	3,005,000	3.750%	-	56,344	112,687.50	
05/01/28	3,005,000	3.750%	-	56,344		
11/01/28	3,005,000	3.750%	-	56,344	112,687.50	
05/01/29	3,005,000	3.750%	-	56,344		
11/01/29	3,005,000	3.750%	-	56,344	112,687.50	
05/01/30	3,005,000	3.750%	-	56,344		
11/01/30	3,005,000	3.750%	-	56,344	112,687.50	
05/01/31	3,005,000	3.750%	-	56,344		
11/01/31	3,005,000	3.750%	-	56,344	112,687.50	
05/01/32	3,005,000	3.750%	-	56,344		
11/01/32	3,005,000	3.750%	-	56,344	112,687.50	
05/01/33	3,005,000	3.750%	-	56,344		
11/01/33	3,005,000	3.750%	-	56,344	112,687.50	
05/01/34	3,005,000	3.750%	-	56,344		
11/01/34	3,005,000	3.750%	-	56,344	112,687.50	
05/01/35	3,005,000	3.750%	-	56,344		
11/01/35	3,005,000	3.750%	-	56,344	112,687.50	
05/01/36	3,005,000	3.750%	965,000	56,344		
11/01/36	2,040,000	3.750%	-	38,250	1,059,593.75	
05/01/37	2,040,000	3.750%	1,000,000	38,250		
11/01/37	1,040,000	3.750%	-	19,500	1,057,750.00	
05/01/38	1,040,000	3.750%	1,040,000	19,500	-	
					1,059,500.00	
Total	$3,005,000	$1,355,063	$4,360,063	

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

11/01/25	2,710,000	4.350%	-	65,004	65,004.38
05/01/26	2,710,000	4.350%	215,000	65,004	
11/01/26	2,495,000	4.350%	-	60,328	340,332.51
05/01/27	2,495,000	4.875%	225,000	60,328	
11/01/27	2,270,000	4.875%	-	54,844	340,171.88	
05/01/28	2,270,000	4.875%	235,000	54,844		
11/01/28	2,035,000	4.875%	-	49,116	338,959.38	
05/01/29	2,035,000	4.875%	250,000	49,116		
11/01/29	1,785,000	4.875%	-	43,022	342,137.51	
05/01/30	1,785,000	4.875%	260,000	43,022		
11/01/30	1,525,000	4.875%	-	36,684	339,706.26	
05/01/31	1,525,000	4.875%	275,000	36,684		
11/01/31	1,250,000	4.875%	-	29,981	341,665.63	
05/01/32	1,250,000	4.875%	285,000	29,981		
11/01/32	965,000	4.875%	-	23,034	338,015.63	
05/01/33	965,000	4.875%	300,000	23,034		
11/01/33	665,000	4.875%	-	15,722	338,756.26	
05/01/34	665,000	4.875%	315,000	15,722		
11/01/34	350,000	4.875%	-	8,044	338,765.63	
05/01/35	350,000	4.875%	330,000	8,044	338,043.75	
Total			$2,690,000	$771,559	$3,461,559	
**Updated for 5/1/25 Special Call

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

11/01/25	830,000	5.000%	20,750	20,750.00
05/01/26	830,000	5.000%	-	20,750	
11/01/26	830,000	5.000%	20,750	41,500.00
05/01/27	830,000	5.000%	-	20,750	
11/01/27	830,000	5.000%		20,750	41,500.00	
05/01/28	830,000	5.000%	-	20,750		
11/01/28	830,000	5.000%		20,750	41,500.00	
05/01/29	830,000	5.000%	-	20,750		
11/01/29	830,000	5.000%		20,750	41,500.00	
05/01/30	830,000	5.000%	-	20,750		
11/01/30	830,000	5.000%		20,750	41,500.00	
05/01/31	830,000	5.000%	-	20,750		
11/01/31	830,000	5.000%		20,750	41,500.00	
05/01/32	830,000	5.000%	-	20,750		
11/01/32	830,000	5.000%		20,750	41,500.00	
05/01/33	830,000	5.000%	-	20,750		
11/01/33	830,000	5.000%		20,750	41,500.00	
05/01/34	830,000	5.000%	-	20,750		
11/01/34	830,000	5.000%		20,750	41,500.00	
05/01/35	830,000	5.000%	-	20,750		
11/01/35	830,000	5.000%		20,750	41,500.00	
05/01/36	830,000	5.000%	265,000	20,750		
11/01/36	565,000	5.000%	-	14,125	299,875.00	
05/01/37	565,000	5.000%	275,000	14,125		
11/01/37	290,000	5.000%	-	7,250	296,375.00	
05/01/38	290,000	5.000%	290,000	7,250	297,250.00	
Total			$830,000	$499,250	$1,329,250	

Approved Budget
Debt Service Series 2016 A3 Special Assessment Refunding Bonds

Description

Adopted Budget
FY2026

Actuals Thru
4/30/26

Approved Budget
FY 2027

REVENUES:

Special Assessments-On Roll	$274,807	$276,110	$274,807	
Interest Earnings	-	14,801	-	
Carry Forward Surplus (1)	180,544	166,033	178,182	
TOTAL REVENUES	$455,351	$456,944	$452,989	

EXPENDITURES:				
Series 2016 A3 - Refunding Bonds				
Interest - 11/1	35,388	38,025	32,913	
Special Call - 11/1	-	5,000	-	
Interest - 5/1	35,388	37,875	32,913	
Principal - 5/1	90,000	85,000	95,000	
SpeciaL Call - 5/1	-	5,000	-	
Series 2016 A3 - Revenue Bonds				
Interest - 11/1	53,500	53,500	53,500	
Interest - 5/1	53,500	53,500	53,500	
TOTAL EXPENDITURES	$267,775	$277,900	$267,825	

Other Sources/(Uses)				

Interfund transfer In/(Out)	
$-	
$-	
$-	
TOTAL OTHER SOURCES/(USES)	$-	$-	$-	
				
TOTAL EXPENDITURES	$267,775	$277,900	$267,825	
				
EXCESS REVENUES (EXPENDITURES)	$187,576	$179,044	$185,164	

(1) Carry Forward is Net of Reserve Requirement

$32,913
	$53,500 
$86,413

AMORTIZATION SCHEDULE
Debt Service Series 2016 A3 Special Assessment Refunding Bonds

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

11/01/25	1,200,000	5.500%	-	35,388	35,387.50
05/01/26	1,200,000	5.500%	90,000	35,388	
11/01/26	1,110,000	5.500%	-	32,913	158,300.00
05/01/27	1,110,000	5.500%	95,000	32,913	
11/01/27	1,015,000	6.000%	-	30,300	158,212.50	
05/01/28	1,015,000	6.000%	100,000	30,300		
11/01/28	915,000	6.000%	-	27,300	157,600.00	
05/01/29	915,000	6.000%	110,000	27,300		
11/01/29	805,000	6.000%	-	24,000	161,300.00	
05/01/30	805,000	6.000%	115,000	24,000		
11/01/30	690,000	6.000%	-	20,550	159,550.00	
05/01/31	690,000	6.000%	120,000	20,550		
11/01/31	570,000	6.000%	-	16,950	157,500.00	
05/01/32	570,000	6.000%	130,000	16,950		
11/01/32	440,000	6.000%	-	13,050	160,000.00	
05/01/33	440,000	6.000%	135,000	13,050		
11/01/33	305,000	6.000%	-	9,000	157,050.00	
05/01/34	305,000	6.000%	145,000	9,000		
11/01/34	160,000	6.000%	-	4,650	158,650.00	
05/01/35	160,000	6.000%	155,000	4,650		
					159,650.00	
Total	$1,195,000	$428,200	$1,623,200	
**Updated for 5/1/25 Special Call

South Village
Community Development District
AMORTIZATION SCHEDULE
Debt Service Series 2016 A3 Special Assessment Revenue Bonds

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

11/01/25	2,140,000	5.000%	53,500	53,500.00
05/01/26	2,140,000	5.000%	-	53,500	
11/01/26	2,140,000	5.000%	53,500	107,000.00
05/01/27	2,140,000	5.000%	-	53,500	
11/01/27	2,140,000	5.000%		53,500	107,000.00	
05/01/28	2,140,000	5.000%	-	53,500		
11/01/28	2,140,000	5.000%		53,500	107,000.00	
05/01/29	2,140,000	5.000%	-	53,500		
11/01/29	2,140,000	5.000%		53,500	107,000.00	
05/01/30	2,140,000	5.000%	-	53,500		
11/01/30	2,140,000	5.000%		53,500	107,000.00	
05/01/31	2,140,000	5.000%	-	53,500		
11/01/31	2,140,000	5.000%		53,500	107,000.00	
05/01/32	2,140,000	5.000%	-	53,500		
11/01/32	2,140,000	5.000%		53,500	107,000.00	
05/01/33	2,140,000	5.000%	-	53,500		
11/01/33	2,140,000	5.000%		53,500	107,000.00	
05/01/34	2,140,000	5.000%	-	53,500		
11/01/34	2,140,000	5.000%		53,500	107,000.00	
05/01/35	2,140,000	5.000%	-	53,500		
11/01/35	2,140,000	5.000%		53,500	107,000.00	
05/01/36	2,140,000	5.000%	150,000	53,500		
11/01/36	1,990,000	5.000%	-	49,750	253,250.00	
05/01/37	1,990,000	5.000%	160,000	49,750		
11/01/37	1,830,000	5.000%	-	45,750	255,500.00	
05/01/38	1,830,000	5.000%	165,000	45,750		
11/01/38	1,665,000	5.000%	-	41,625	252,375.00	
05/01/39	1,665,000	5.000%	175,000	41,625		
11/01/39	1,490,000	5.000%	-	37,250	253,875.00	
05/01/40	1,490,000	5.000%	185,000	37,250		
11/01/40	1,305,000	5.000%	-	32,625	254,875.00	
05/01/41	1,305,000	5.000%	190,000	32,625		
11/01/41	1,115,000	5.000%	-	27,875	250,500.00	
05/01/42	1,115,000	5.000%	200,000	27,875		
11/01/42	915,000	5.000%	-	22,875	250,750.00	
05/01/43	915,000	5.000%	210,000	22,875		
11/01/43	705,000	5.000%	-	17,625	250,500.00	
05/01/44	705,000	5.000%	225,000	17,625		
11/01/44	480,000	5.000%	-	12,000	254,625.00	
05/01/45	480,000	5.000%	235,000	12,000		
11/01/45	245,000	5.000%	-	6,125	253,125.00	
05/01/46	245,000	5.000%	245,000	6,125		
					251,125.00	
Total	$2,140,000	$1,764,000	$3,904,000	

South Village
Community Development District
Approved Budget
Debt Service Series 2019 Capital Improvement Bonds

	Adopted Budget	Actuals Thru	Approved Budget	
Description	FY2026	4/30/26	FY 2027	

REVENUES:				
Special Assessments-On Roll	$223,713	$221,501	$223,713	
Interest Earnings	-	8,815	-	
Carry Forward Surplus (1)	117,212	105,770	120,063	
TOTAL REVENUES	$340,925	$336,086	$343,776	

EXPENDITURES:				
Series 2019A				
Interest - 11/1	79,368	80,793	77,943	
Interest - 5/1	79,368	80,793	77,943	
Principal - 5/1	60,000	60,000	65,000	
TOTAL EXPENDITURES	$218,735	$221,586	$220,885	

Other Sources/(Uses)				
Interfund transfer In/(Out)	$-	$-	$-	
TOTAL OTHER SOURCES/(USES)	$-	$-	$-	
				
TOTAL EXPENDITURES	$218,735	$221,586	$220,885	
				
EXCESS REVENUES (EXPENDITURES)	$122,190	$114,500	$122,891	

(1) Carry Forward is Net of Reserve Requirement		
	$77,943 	
			$77,943	

South Village
Community Development District
AMORTIZATION SCHEDULE
Debt Service Series 2019 A Capital Improvement Bonds

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

11/01/23	
$3,015,000	
4.750%	
$-	
$82,099	
82,098.75	
05/01/24	3,015,000	4.750%	55,000	82,099		
11/01/24	2,960,000	4.750%	-	80,793	217,891.25	
05/01/25	2,960,000	4.750%	60,000	80,793		
11/01/25	2,900,000	4.750%	-	79,368	220,160.00	
05/01/26	2,900,000	4.750%	60,000	79,368		
11/01/26	2,840,000	4.750%	-	77,943	217,310.00	
05/01/27	2,840,000	4.750%	65,000	77,943		
11/01/27	2,775,000	4.750%	-	76,399	219,341.25	
05/01/28	2,775,000	4.750%	65,000	76,399		
11/01/28	2,710,000	4.750%	-	74,855	216,253.75	
05/01/29	2,710,000	4.750%	70,000	74,855		
11/01/29	2,640,000	5.450%	-	73,193	218,047.50	
05/01/30	2,640,000	5.450%	75,000	73,193		
11/01/30	2,565,000	5.450%	-	71,149	219,341.25	
05/01/31	2,565,000	5.450%	80,000	71,149		
11/01/31	2,485,000	5.450%	-	68,969	220,117.50	
05/01/32	2,485,000	5.450%	85,000	68,969		
11/01/32	2,400,000	5.450%	-	66,653	220,621.25	
05/01/33	2,400,000	5.450%	90,000	66,653		
11/01/33	2,310,000	5.450%	-	64,200	220,852.50	
05/01/34	2,310,000	5.450%	90,000	64,200		
11/01/34	2,220,000	5.450%	-	61,748	215,947.50	
05/01/35	2,220,000	5.450%	100,000	61,748		
11/01/35	2,120,000	5.450%	-	59,023	220,770.00	
05/01/36	2,120,000	5.450%	105,000	59,023		
11/01/36	2,015,000	5.450%	-	56,161	220,183.75	
05/01/37	2,015,000	5.450%	110,000	56,161		
11/01/37	1,905,000	5.450%	-	53,164	219,325.00	
05/01/38	1,905,000	5.450%	115,000	53,164		
11/01/38	1,790,000	5.450%	-	50,030	218,193.75	
05/01/39	1,790,000	5.450%	120,000	50,030		
11/01/39	1,670,000	5.600%	-	46,760	216,790.00	
05/01/40	1,670,000	5.600%	130,000	46,760		
11/01/40	1,540,000	5.600%	-	43,120	219,880.00	
05/01/41	1,540,000	5.600%	135,000	43,120		
11/01/41	1,405,000	5.600%	-	39,340	217,460.00	
05/01/42	1,405,000	5.600%	145,000	39,340		
11/01/42	1,260,000	5.600%	-	35,280	219,620.00	
05/01/43	1,260,000	5.600%	150,000	35,280		
11/01/43	1,110,000	5.600%	-	31,080	216,360.00	
05/01/44	1,110,000	5.600%	160,000	31,080		
11/01/44	950,000	5.600%	-	26,600	217,680.00	
05/01/45	950,000	5.600%	170,000	26,600		
11/01/45	780,000	5.600%	-	21,840	218,440.00	
05/01/46	780,000	5.600%	180,000	21,840		
11/01/46	600,000	5.600%	-	16,800	218,640.00	
05/01/47	600,000	5.600%	190,000	16,800		
11/01/47	410,000	5.600%	-	11,480	218,280.00	
05/01/48	410,000	5.600%	200,000	11,480		
11/01/48	210,000	5.600%	-	5,880	217,360.00	
05/01/49	210,000	5.600%	210,000	5,880	215,880.00	
Total			$3,015,000	$2,747,845	$5,762,845	

South Village
Community Development District
Non-Ad Valorem Assessments Comparison 2026-2027

Neighborhood	O&M Units	Bonds 2016
A1/2	Bonds 2016
A3	Bonds 2019	
Annual Maintenance Assessments	
Annual Debt Assessments	
Total Assessed Per Unit	
	
FY2027	
Gross	
FY2026	Increase/ (decrease)	
FY2027	
FY2026	Increase/ (decrease)	
FY2027	
FY2026	Increase/ (decrease)	
					O&M / Rec Center	Golf	Capital Reserve	Total			2016A1/2	2016A3	2019	2016A1/2	2016A3	2019		2016A1/2	2016A3	2019	2016A1/2	2016A3	2019		

Platted Lots	
1494	
1063	
197	
162	
$1,544.00	
$0.00	
$604.32	
$2,148.32	
$1,982.00	
$166.32	
$1,470.05	
$1,484.00	
$1,469.09	
$1,470.05	
$1,484.00	
$1,469.09	
$0.00	
$3,618.37	
$3,632.32	
$3,617.41	
$3,452.05	
$3,466.00	
$3,451.09	
$166.32	
Platted Lot Partial	0	58	0	0	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$146.87	$0.00	$0.00	$146.87	$0.00	$0.00	$0.00	$146.87	$0.00	$0.00	$146.87	$0.00	$0.00	$0.00	
Platted Lot Partial	0	1	0	0	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$479.78	$0.00	$0.00	$479.78	$0.00	$0.00	$0.00	$479.78	$0.00	$0.00	$479.78	$0.00	$0.00	$0.00	
Sales Center	1	0	0	0	$3,923.46	$0.00	$0.00	$3,923.46	$3,923.46	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	
Paid off		14																							
Total	1495	1136	197	162