Anabelle Island
Community Development District

Adopted Budget
FY 2024

Anabelle Island
Community Development District

TABLE OF CONTENTS

General Fund
Budget	Page 1-2
Narrative	Page 3-7

SE 2022 Debt Service Fund
Summary of Revenues and Expenses	Page 8
Amortization Schedule	Page 9-10

	Adopted
Budget	Actuals
as of	Projected
Next 2	Total
Projected	Adopted
Budget	
Description	FY 2023	7/31/23	Months	9/30/23	FY 2024	

Revenues						
Special Assessments	$	-	$	-	$	-	$	-	$	210,269	
Developer Contributions	$	609,890	$	59,160	$	36,428	$	95,588	$	187,708	
Total Revenues	$	609,890	$	59,160	$	36,428	$	95,588	$	397,977	
Expenditures						
Administrative						
Supervisors Fees	$	12,000	$	200	$	2,000	$	2,200	$	12,000	
FICA Expense	$	918	$	15	$	153	$	168	$	918	
Engineering	$	5,000	$	-	$	2,500	$	2,500	$	5,000	
Attorney	$	20,000	$	2,438	$	7,562	$	10,000	$	15,000	
Arbitrage	$	750	$	-	$	700	$	700	$	700	
Assessment Roll	$	5,000	$	5,000	$	-	$	5,000	$	5,300	
Dissemination Agent	$	3,500	$	2,917	$	584	$	3,501	$	3,710	
Annual Audit	$	3,500	$	5,500	$	-	$	5,500	$	5,600	
Trustee	$	6,500	$	2,166	$	4,334	$	6,500	$	6,500	
Management Fees	$	47,250	$	39,375	$	7,875	$	47,250	$	50,085	
Website Maintenance	$	1,200	$	1,000	$	200	$	1,200	$	1,200	
Information Technology	$	1,800	$	1,500	$	300	$	1,800	$	1,800	
Telephone	$	300	$	34	$	85	$	119	$	300	
Postage	$	600	$	53	$	547	$	600	$	2,500	
Insurance	$	5,625	$	5,375	$	-	$	5,375	$	5,913	
Printing	$	1,000	$	55	$	945	$	1,000	$	2,500	
Legal Advertising	$	2,500	$	-	$	1,200	$	1,200	$	2,500	
Other Current Charges	$	1,000	$	266	$	434	$	700	$	700	
Office Supplies	$	100	$	1	$	100	$	101	$	100	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total Administrative	$	118,718	$	66,069	$	29,519	$	95,588	$	122,501	

Ground Maintenance 						
Security- monitoring	$	45,000	$	-	$	-	$	-	$	-	
Electric	$	1,500	$	-	$	-	$	-	$	1,500	
Water & Sewer/Irrigation	$	30,000	$	-	$	-	$	-	$	30,000	
Repairs & Maintenance	$	5,000	$	-	$	-	$	-	$	5,000	
Landscape - Contract	$	61,977	$	-	$	-	$	-	$	97,476	
Landscape - Contingency	$	5,000	$	-	$	-	$	-	$	20,000	
Landscape - Pond Banks	$	39,000	$	-	$	-	$	-	$	-	
Lake Maintenance	$	10,000	$	-	$	-	$	-	$	10,000	
Irrigation Repairs	$	10,000	$	-	$	-	$	-	$	5,000	
Total Ground Maintenance	$	207,477	$	-	$	-	$	-	$	168,976	

	Adopted
Budget	Actuals
as of	Projected
Next 2	Total
Projected	Adopted
Budget	
Description	FY 2023	7/31/23	Months	9/30/23	FY 2024	
Amenity Center			
Insurance	$	24,538	$	-	$	-	$	-	$	5,000	
Phone/Internet/Cable	$	3,000	$	-	$	-	$	-	$	3,000	
Electric	$	16,000	$	-	$	-	$	-	$	16,000	
Water/Irrigation	$	6,000	$	-	$	-	$	-	$	15,000	
Gas	$	1,250	$	-	$	-	$	-	$	-	
Refuse Service	$	2,500	$	-	$	-	$	-	$	2,500	
Security Monitoring	$	11,497	$	-	$	-	$	-	$	-	
Access Cards	$	2,500	$	-	$	-	$	-	$	2,500	
Field Mgmt/Admin	$	20,000	$	-	$	-	$	-	$	-	
Landscape - Contract	$	50,000	$	-	$	-	$	-	$	-	
Fitness Equipment Lease (Sofitco)	$	17,500	$	-	$	-	$	-	$	-	
Janitorial Maintenance	$	28,000	$	-	$	-	$	-	$	14,000	
Janitorial Supplies	$	4,000	$	-	$	-	$	-	$	4,000	
Pool Maintenance	$	12,900	$	-	$	-	$	-	$	15,000	
Pool Chemicals	$	-	$	-	$	-	$	-	$	10,000	
Pool Permit	$	-	$	-	$	-	$	-	$	500	
Facility Maintenance	$	7,500	$	-	$	-	$	-	$	7,500	
Repairs & Maintenance	$	4,310	$	-	$	-	$	-	$	10,000	
Special Events	$	4,000	$	-	$	-	$	-	$	-	
Fitness Center Repairs/Supplies	$	900	$	-	$	-	$	-	$	-	
Office Supplies	$	1,000	$	-	$	-	$	-	$	200	
ASCAP/BMI License Fees	$	500	$	-	$	-	$	-	$	500	
Pest Control	$	800	$	-	$	-	$	-	$	800	
Capital Outlay	$	15,000	$	-	$	-	$	-	$	-	
Reserves	$	50,000	$	-	$	-	$	-	$	-	
Total Amenity Center	$	283,695	$	-	$	-	$	-	$	106,500	
						
Total Expenditures	$	609,890	$	66,069	$	29,519	$	95,588	$	397,977	

Excess Revenues/(Expenditures)

$	-	$

(6,909)  $

6,909	$

-	$	-

Assessments per unit for FY 2024
Lot
Size	Unit
Count	Net Per
Unit	Gross Per
Unit	Gross
Assessments	
Platted (1)	211	$752.00	$800.00	$168,800.00	
Less Discount 4% + Collections 2%		($10,128.00)	
TOTAL PLATTED		$158,672.00	
Direct Bill - Unplatted	158	
$326.56	
$51,596.63	
TOTAL	369	Total Net Annual Assessment	$210,268.63	

(1) include 4% provision for early payment discount and 2% collection costs for Clay County

REVENUES:

Special Assessments/Developer Contributions

The District will levy a non ad-valorem special assessment on all taxable property within the District to fund all of the General Operating Expenditures for the fiscal year and collect from Developer remaining assessments for O&M portion.

EXPENDITURES:

Administrative:

Supervisors Fees

Chapter 190, The Florida Statutes, allows each Board member to receive $200 per meeting not to exceed $4,800 per year per 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 the Board of Supervisors checks.

Engineering

The District will be providing general engineering services to the District, e.g., attendance and preparation for monthly board meetings, review invoices, etc.

Attorney

The District’s legal counsel, Kilinski Van Wyk, PLLC will be providing general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating & maintenance contracts, etc.

Arbitrage

The District is required to annually have an arbitrage rebate calculation on the District’s Series Special Assessment Revenue Bonds.

Assessment Roll

The District has contracted with Governmental Management Services, LLC for the certification and collection of the District’s annual maintenance and debt service assessments. Assessments on platted lots are collected by agreement with Clay County while unplatted assessments maybe collected directly by District and/or by County Tax Collector.

Dissemination

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.

Annual Audit

The District is required annually to conduct an audit of its financial records.

Trustee Fees

The Trustee administers the District’s Special Assessment Revenue Bonds. The amount represents the annual fee for the administration of the District’s bond issue.

Management Fees

The District receives management, accounting and administrative services as part of a management agreement with Governmental Management Services, LLC (“GMS”). These services are further outlined in Exhibit “A” of the Management Agreement with GMS.

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.

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.

Telephone

Telephone conference costs for District meetings, workshops and committee meetings.

Postage

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

Insurance

The District’s General Liability & Public Officials Liability Insurance policy is with Florida Insurance Alliance. FIA specializes in providing insurance coverage to governmental agencies.

Printing

Printing budgets for the County, 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

Estimated bank charges and any other miscellaneous expenses that incurred during the year.

Office Supplies

Miscellaneous office supplies.

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.

Ground Maintenance

Electric

Estimated costs for electric billed to the District by Clay County Electric.

Water/Sewer/Irrigation

Estimated costs for irrigation by the district for water, sewer and irrigation.

Repairs and Maintenance

Any costs related to miscellaneous repairs and maintenance that occur during the fiscal year.

Landscape Maintenance

Estimated costs related to maintain the common areas of the District.

Landscape Contingency

Estimated costs for other landscape maintenance incurred by the District.

Lake Maintenance

Estimated costs to maintain ponds throughout the District.

Irrigation Repairs

Estimated miscellaneous irrigation maintenance and repair costs.

Amenity Center:

Insurance

Estimated Property Insurance policy from Florida Insurance Alliance.

Phone/Internet/Cable

Estimated costs for phone, cable and internet in the Amenity Center.

Electric

Estimated costs for electric billed to the District by Clay County Electric.

Water/Irrigation

Estimated costs for irrigation by the district for water, sewer and irrigation.

Refuse Service

Estimated cost for refuse removal service.

Access Cards

Entry cards are issued to all CDD residents for facility access.

Janitorial Maintenance

Estimated costs for janitorial services for the Amenity Center.

Janitorial Supplies

Estimated costs for janitorial for janitorial supplies for Amenity Center.

Pool Maintenance

Estimated cost to maintain the Amenity swimming pools.

Pool Chemicals

The District will contract with local company to provide chemicals necessary for the maintenance of the Amenity Center swimming pool.

Pool Permit

Represents Permit Fees paid to the Department of Health for the swimming pool.

Facility Maintenance

Estimated cost for maintenance and repairs necessary for upkeep of the Amenity Center and common grounds area.

Repair and Maintenance

Any costs related to miscellaneous repairs and maintenance that occur during the fiscal year.

Office Supplies

Office supplies for the Amenity Center.

ASCAP/BMI License Fees

Represent estimated costs for music licenses for Amenity Center.

Pest Control

The estimated costs for monthly pest control services.

Anabelle Island
Community Development District Series 2022 Debt Service Fund Adopted Budget

	Approved
Budget	Actuals
as of	Projected
Next 2	Total
Projected	Adopted
Budget	
Description	FY 2023	7/31/23	Months	9/30/23	FY 2024	

Revenues						
Special Assessments	$	346,815	$	243,710	$  103,104	$	346,815	$	346,815	
Interest Income	$	250	$	250	$	100	$	350	$	500	
Carry Forward Surplus	$	111,367	$	112,000	$	-	$	112,000	$	111,555	
Total Revenues	$	458,432	$	355,960	$ 103,204	$	459,165	$	458,870	

Expenditures						
Series 2022
Interest Expense 11/1	
$	111,305	
$	111,305	
$	-	
$	111,305	
$	109,618	
Principal Expense 5/1	$	125,000	$	125,000	$	-	$	125,000	$	125,000	
Interest Expense 5/1	$	111,305	$	111,305	$	-	$	111,305	$	109,618	
Total Expenditures	$	347,610	$	347,610	$	-	$	347,610	$	344,235	
						
Excess Revenues/(Expenditures)	$	110,822	$	8,350	$ 103,204	$	111,555	$	114,635	

11/1/24 Interest Payment	
$	106,175	

Assessments per unit for FY 2024	
Lot	Unit	Net Per	Gross Per	Gross	
Size	Count	Unit	Unit	Assessments (1)	
40'	75	$940	$1,000	$74,990	
50'	294	$940	$1,000	$293,962	

Total	369	Gross Annual Assessment	$368,952

Less Discount 4% + Collections 2%	($22,137)

Net Annual Assessment	$346,815

(1) include 4% provision for early payment discount and 2% collection costs for Clay County

Period		Interest		Debt	Annual Debt	
Ending	Principal	Rate	Interest	Service	Service	

11/1/23		2.70%	$109,618	$109,618	$344,235	
5/1/24	$125,000	2.70%	$109,618	$234,618		
11/1/24		2.70%	$107,930	$107,930	$345,860	
5/1/25	$130,000	2.70%	$107,930	$237,930		
11/1/25		2.70%	$106,175	$106,175	$347,350	
5/1/26	$135,000	2.70%	$106,175	$241,175		
11/1/26		2.70%	$104,353	$104,353	$348,705	
5/1/27	$140,000	2.70%	$104,353	$244,353		
11/1/27		2.70%	$102,463	$102,463	$344,925	
5/1/28	$140,000	3.10%	$102,463	$242,463		
11/1/28		3.10%	$100,293	$100,293	$345,585	
5/1/29	$145,000	3.10%	$100,293	$245,293		
11/1/29		3.10%	$98,045	$98,045	$346,090	
5/1/30	$150,000	3.10%	$98,045	$248,045		
11/1/30		3.10%	$95,720	$95,720	$346,440	
5/1/31	$155,000	3.10%	$95,720	$250,720		
11/1/31		3.10%	$93,318	$93,318	$346,635	
5/1/32	$160,000	3.10%	$93,318	$253,318		
11/1/32		3.10%	$90,838	$90,838	$346,675	
5/1/33	$165,000	3.50%	$90,838	$255,838		
11/1/33		3.50%	$87,950	$87,950	$345,900	
5/1/34	$170,000	3.50%	$87,950	$257,950		
11/1/34		3.50%	$84,975	$84,975	$349,950	
5/1/35	$180,000	3.50%	$84,975	$264,975		
11/1/35		3.50%	$81,825	$81,825	$348,650	
5/1/36	$185,000	3.50%	$81,825	$266,825		
11/1/36		3.50%	$78,588	$78,588	$347,175	
5/1/37	$190,000	3.50%	$78,588	$268,588		
11/1/37		3.50%	$75,263	$75,263	$345,525	
5/1/38	$195,000	3.50%	$75,263	$270,263		
11/1/38		3.50%	$71,850	$71,850	$348,700	
5/1/39	$205,000	3.50%	$71,850	$276,850		
11/1/39		3.50%	$68,263	$68,263	$346,525	
5/1/40	$210,000	3.50%	$68,263	$278,263		
11/1/40		3.50%	$64,588	$64,588	$349,175	
5/1/41	$220,000	3.50%	$64,588	$284,588		
11/1/41		3.50%	$60,738	$60,738	$346,475	
5/1/42	$225,000	3.50%	$60,738	$285,738		
11/1/42		3.50%	$56,800	$56,800	$348,600	
5/1/43	$235,000	4.00%	$56,800	$291,800		
11/1/43		4.00%	$52,100	$52,100	$349,200	
5/1/44	$245,000	4.00%	$52,100	$297,100		
11/1/44		4.00%	$47,200	$47,200	$349,400	

Period
Ending	
Principal	Interest
Rate	
Interest		Debt
Service		Annual Debt
Service	
								
5/1/45	$255,000	4.00%	$47,200		$302,200			
11/1/45		4.00%	$42,100		$42,100		$349,200	
5/1/46	$265,000	4.00%	$42,100		$307,100			
11/1/46		4.00%	$36,800		$36,800		$348,600	
5/1/47	$275,000	4.00%	$36,800		$311,800			
11/1/47		4.00%	$31,300		$31,300		$352,600	
5/1/48	$290,000	4.00%	$31,300		$321,300			
11/1/48		4.00%	$25,500		$25,500		$351,000	
5/1/49	$300,000	4.00%	$25,500		$325,500			
11/1/49		4.00%	$19,500		$19,500		$349,000	
5/1/50	$310,000	4.00%	$19,500		$329,500			
11/1/50		4.00%	$13,300		$13,300		$351,600	
5/1/51	$325,000	4.00%	$13,300		$338,300			
11/1/51		4.00%	$6,800		$6,800		$353,600	
5/1/52	$340,000	4.00%	$6,800		$346,800		

	 $6,065,000 		  $4,028,375 		 $10,093,375 		  $10,093,375