Wind Meadows South
Community Development District

Proposed Budget
FY2023

Table of Contents

1-2

3-7

8

9

General Fund

General Fund Narrative

Debt Service Series 2021

Amortization Schedule

10	Capital Reserve Fund

		Adopted Budget	Actuals Through	Projected Next	Projected Through	Proposed Budget	
	Description	FY2022	3/31/22	6 Months	9/30/22	FY2023	

Revenues							

Assessments - Tax Roll	$	-	$	-	
$	-	
$	-	$	270,400	
Developer Contributions	$	134,760	$	50,000	$	51,057	$	101,057	$	41,610	
Total Revenues	$	134,760	$	50,000	$	51,057	$	101,057	$	312,010	

Expenditures						
General & Administrative
Supervisor Fees	
$	12,000	
$	-	
$	6,000	
$	6,000	
$	12,000	
Engineering	$	15,000	$	-	$	5,375	$	5,375	$	15,000	
Attorney	$	25,000	$	8,288	$	8,288	$	16,576	$	25,000	
Annual Audit	$	5,000	$	-	$	3,250	$	3,250	$	5,000	
Assessment Administration	$	5,000	$	-	$	5,000	$	5,000	$	5,000	
Arbitrage	$	500	$	-	$	450	$	450	$	500	
Dissemination	$	5,000	$	2,500	$	2,500	$	5,000	$	5,000	
Trustee Fees	$	5,000	$	-	$	5,000	$	5,000	$	5,000	
Management Fees	$	35,000	$	17,500	$	17,500	$	35,000	$	36,750	
Information Technology	$	1,800	$	900	$	900	$	1,800	$	1,800	
Website Maintenance	$	1,200	$	600	$	600	$	1,200	$	1,200	
Telephone	$	300	$	-	$	75	$	75	$	300	
Postage & Delivery	$	1,000	$	37	$	150	$	187	$	1,000	
Insurance	$	5,500	$	5,000	$	-	$	5,000	$	5,500	
Printing & Binding	$	1,000	$	12	$	150	$	162	$	1,000	
Legal Advertising	$	10,000	$	2,917	$	6,542	$	9,459	$	10,000	
Contingency	$	5,000	$	-	$	1,250	$	1,250	$	5,000	
Office Supplies	$	625	$	10	$	88	$	98	$	625	
Travel Per Diem	$	660	$	-	$	-	$	-	$	660	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	

Subtotal Administrative Expenditures	$	134,760	$	37,939	$	63,118	$	101,057	$	136,510	

Operations & Maintenance
Field Expenditures
Property Insurance	$	-	$	-	

$	-	

$	-	$	5,000	
Field Management	$	-	$	-	$	-	$	-	$	15,000	
Landscape Maintenance	$	-	$	-	$	-	$	-	$	70,000	
Landscape Replacement	$	-	$	-	$	-	$	-	$	15,000	
Streetlights	$	-	$	-	$	-	$	-	$	15,000	
Electric	$	-	$	-	$	-	$	-	$	5,500	
Water & Sewer	$	-	$	-	$	-	$	-	$	10,000	
Sidewalk & Asphalt Maintenance	$	-	$	-	$	-	$	-	$	2,500	
Irrigation Repairs	$	-	$	-	$	-	$	-	$	5,000	
General Repairs & Maintenance	$	-	$	-	$	-	$	-	$	15,000	
Contingency	$	-	$	-	$	-	$	-	$	7,500	
Subtotal Field Expenditures	$	-	$	-	$	-	$	-	$	165,500	

Adopted Budget	Actuals Through	Projected Next	Projected Through	Proposed Budget	
Description	FY2022	3/31/22	6 Months	9/30/22	FY2023	

Amenity Expenditures Amenity - Electric Amenity - Water Playground Lease Internet
Pest Control Janitorial Service Security Services Pool Maintenance
Amenity Repairs & Maintenance Amenity Access Management Contingency	

$
$
$
$
$
$
$
$
$
$
$	

-
-
-
-
-
-
-
-
-
-
-	

$
$
$
$
$
$
$
$
$
$
$	

-
-
-
-
-
-
-
-
-
-
-	

$	-
$	-
$	-
$	-
$	-
$	-
$	-
$	-
$	-
$	-
$	-	

$	-
$	-
$	-
$	-
$	-
$	-
$	-
$	-
$	-
$	-
$	-	

$	18,000
$	10,000
$	35,000
$	3,000
$	720
$	8,000
$	33,800
$	20,000
$	12,000
$	5,000
$	7,500	
Subtotal Field Expenditures	$	-	$	-	$	-	$	-	$	153,020	

Other Expenditures
Capital Reserves - Transfer	

$	

-	

$	

-	

$	-	

$	-	

$	10,000	
Total Other Expenditures	$	-	$	-	$	-	$	-	$	10,000	
								
Total Expenditures	$	134,760	$	37,939	$	63,118	$	101,057	$	312,010	

Excess Revenues/(Expenditures)	$	-	$	12,061	$	(12,061)  $	-	$	-	
		
Net Assessments	
$	270,400	
		Add: Discounts & Collections 7%	$20,353	
		Gross Assessments	$290,753	
		
Assessable Units	
416	
		
Gross Per Unit Assessment	
$698.92	
		Net Per Unit Assessment	$650.00	

Revenues:

Assessments – Tax Roll

The District will levy a non-ad valorem assessment on all assessable property within the District to fund all general operating and maintenance expenditures during the fiscal year.

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.

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.

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 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.

Contingency

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 Services

Property Insurance

The District’s property insurance coverages.

Field Management

Represents the 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.

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 Expenditures

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 has entered into a leasing agreement for playgrounds and pool furniture installed in the community with WHFS, LLC

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 the 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 the costs of regular cleaning and treatments of the District’s pool.

Amenity Repairs & Maintenance

Represents estimated costs for repairs and maintenance of the District’s amenity facilities.

Amenity Access Management

Represents the cost of managing access to 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.

Wind Meadows South Community Development District Proposed Budget
Series 2022 Debt Service Fund

Adopted Budget	Actual Through	Projected Next	Projected Through	Proposed Budget	
Description	FY2022	3/31/22	6 Months	9/30/22	FY2023	

Revenues				
Assessment - Tax Roll	$	-	$	-	$	-	$	-	$	520,000	
Assessments - Direct Bill	$	-	$	-	$	-	$	-	$	165,371	
Interest Income	$	-	$	18	$	-	$	18	$	-	
Carry Forward Surplus	$	-	$	-	$	-	$	-	$	18	
Total Revenues	$	-	$	18	$	-	$	18	$	685,389	

Expenses				
Interest - 11/1	$	-	$	-	$	-	$	-	$	165,371	
Principal - 5/1	$	-	$	-	$	-	$	-	$	190,000	
Interest - 5/1	$	-	$	-	$	180,071	$	180,071	$	165,371	
Total Expenditures	$	-	$	-	$	180,071	$	180,071	$	520,743	

Other Financing Sources					
Bond Proceeds	$	-	$	700,071	$	-	$	700,071	$	-	
Total Other Financing Sources (Uses)	$	-	$	700,071	$	-	$	700,071	$	-	
					
Excess Revenues/(Expenditures)	$	-	$	700,089	$	(180,071)	$	520,018	$	164,647	

Interest Expense - 11/1	
$	
163,091	
Total	$	163,091	

Product	
Assessable Units	Maximum Annual Debt Service	Net Assessment Per Unit	Gross Assessment Per Unit	
Single Family - 50'	327	$	408,750	$	1,250	$	1,344	
Single Family - 70'	89	$	111,250	$	1,250	$	1,344	
	416	$	520,000			

Wind Meadows South Community Development District Series 2021 Special Assessment Bonds Amortization Schedule

Date	Balance	Prinicpal	Interest	Total

05/01/22	$

9,335,000.00  $

-	$	180,070.92

11/01/22
05/01/23

$
$

9,335,000.00  $
9,335,000.00  $

-	$
190,000.00  $

165,371.25  $
165,371.25

345,442.17

11/01/23	$
05/01/24	$
11/01/24	$
05/01/25	$
11/01/25	$
05/01/26	$
11/01/26	$
05/01/27	$
11/01/27	$
05/01/28	$
11/01/28	$
05/01/29	$
11/01/29	$
05/01/30	$
11/01/30	$
05/01/31	$
11/01/31	$
05/01/32	$
11/01/32	$
05/01/33	$
11/01/33	$
05/01/34	$
11/01/34	$
05/01/35	$
11/01/35	$
05/01/36	$
11/01/36	$
05/01/37	$
11/01/37	$
05/01/38	$
11/01/38	$
05/01/39	$
11/01/39	$
05/01/40	$
11/01/40	$
05/01/41	$
11/01/41	$
05/01/42	$
11/01/42	$
05/01/43	$
11/01/43	$
05/01/44	$
11/01/44	$
05/01/45	$
11/01/45	$
05/01/46	$
11/01/46	$
05/01/47	$
11/01/47	$
05/01/48	$
11/01/48	$
05/01/49	$
11/01/49	$
05/01/50	$
11/01/50	$
05/01/51	$
11/01/51	$
05/01/52	$

9,145,000.00  $
9,145,000.00  $
8,950,000.00  $
8,950,000.00  $
8,545,000.00  $
8,545,000.00  $
8,545,000.00  $
8,545,000.00  $
8,335,000.00  $
8,335,000.00  $
8,120,000.00  $
8,120,000.00  $
7,900,000.00  $
7,900,000.00  $
7,670,000.00  $
7,670,000.00  $
7,435,000.00  $
7,435,000.00  $
7,195,000.00  $
7,195,000.00  $
6,945,000.00  $
6,945,000.00  $
6,685,000.00  $
6,685,000.00  $
6,415,000.00  $
6,415,000.00  $
6,140,000.00  $
6,140,000.00  $
5,855,000.00  $
5,855,000.00  $
5,560,000.00  $
5,560,000.00  $
5,255,000.00  $
5,255,000.00  $
4,610,000.00  $
4,610,000.00  $
4,610,000.00  $
4,610,000.00  $
4,270,000.00  $
4,270,000.00  $
3,915,000.00  $
3,915,000.00  $
3,545,000.00  $
3,545,000.00  $
3,160,000.00  $
3,160,000.00  $
2,760,000.00  $
2,760,000.00  $
2,345,000.00  $
2,345,000.00  $
1,915,000.00  $
1,915,000.00  $
1,465,000.00  $
1,465,000.00  $
995,000.00  $
995,000.00  $
505,000.00  $
505,000.00  $

-	$
195,000.00  $
-	$
200,000.00  $
-	$
205,000.00  $
-	$
210,000.00  $
-	$
215,000.00  $
-	$
220,000.00  $
-	$
230,000.00  $
-	$
235,000.00  $
-	$
240,000.00  $
-	$
250,000.00  $
-	$
260,000.00  $
-	$
270,000.00  $
-	$
275,000.00  $
-	$
285,000.00  $
-	$
295,000.00  $
-	$
305,000.00  $
-	$
315,000.00  $
-	$
330,000.00  $
-	$
340,000.00  $
-	$
355,000.00  $
-	$
370,000.00  $
-	$
385,000.00  $
-	$
400,000.00  $
-	$
415,000.00  $
-	$
430,000.00  $
-	$
450,000.00  $
-	$
470,000.00  $
-	$
490,000.00  $
-	$
505,000.00  $

163,091.25  $
163,091.25
160,751.25  $
160,751.25
158,351.25  $
158,351.25
155,891.25  $
155,891.25
152,793.75  $
152,793.75
149,622.50  $
149,622.50
146,377.50  $
146,377.50
142,985.00  $
142,985.00
139,518.75  $
139,518.75
135,498.75  $
135,498.75
131,311.25  $
131,311.25
126,956.25  $
126,956.25
122,433.75  $
122,433.75
117,827.50  $
117,827.50
113,053.75  $
113,053.75
108,112.50  $
108,112.50
103,003.75  $
103,003.75
97,727.50  $
97,727.50
92,200.00  $
92,200.00
85,400.00  $
85,400.00
78,300.00  $
78,300.00
70,900.00  $
70,900.00
63,200.00  $
63,200.00
55,200.00  $
55,200.00
46,900.00  $
46,900.00
38,300.00  $
38,300.00
29,300.00  $
29,300.00
19,900.00  $
19,900.00
10,100.00  $
10,100.00  $

518,462.50

518,842.50

519,102.50

519,242.50

518,685.00

517,416.25

516,000.00

519,362.50

517,503.75

515,017.50

516,810.00

518,267.50

519,390.00

515,261.25

515,881.25

516,166.25

516,116.25

515,731.25

519,927.50

517,600.00

518,700.00

519,200.00

519,100.00

518,400.00

517,100.00

515,200.00

517,600.00

519,200.00

520,000.00
515,100.00

$	9,335,000.00  $	6,540,828.42  $	15,875,828.42

Wind Meadows South Community Development District Proposed Budget
Capital Reserve Fund

Adopted Budget	Actual Through	Projected Next	Projected Through	Proposed Budget	
Description	FY2022	3/31/22	6 Months	9/30/22	FY2023	

Revenues

Interest Income	

$	-	$	-	$	-	$	-	$	-	
Total Revenues	$	-	$	-	$	-	$	-	$	-	

Expenses

Capital Outlay	

$	-	$	-	$	-	$	-	$	-	
Total Expenditures	$	-	$	-	$	-	$	-	$	-	

Other Financing Sources

Transfer In/(Out)	

$	-	$	-	$	-	$	-	$	10,000	
Total Other Financing Sources (Uses)	$	-	$	-	$	-	$	-	$	10,000	
		
Excess Revenues/(Expenditures)	$	-	$	-	$	-	$	-	$	10,000