Anabelle Island

Community Development District

Adopted Budget
FY2025

Presented by:

Table of Contents

1-2

3-5

6

7

	General Fund

	Narratives

	Debt Service Fund Series 2022

	Amortization Schedule Series 2022

8		Assessment Schedule

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2024	6/30/24		3 Months		9/30/24	FY 2025	

REVENUES:						
Special Assessments	$	210,269	$	210,662	$	-	$	210,662	$	210,269	
Developer Contribution	187,708	-	115,103	115,103	198,281	
Interest income	-	1,926	150	2,076	-	
TOTAL REVENUES	$	397,977	$	212,588	$	115,253	$	327,842	$	408,550	

EXPENDITURES:						
Administrative						
Supervisors Fees	$	12,000	$	200	$	2,000	$	2,200	$	6,000	
FICA Taxes	918	15	153	168	454	
Engineering	5,000	-	2,500	2,500	5,000	
Attorney	15,000	7,637	7,363	15,000	15,000	
Arbitrage Rebate	700	-	700	700	700	
Assessment Roll Administration	5,300	5,300	-	5,300	5,618	
Dissemination Agent	3,710	2,783	927	3,710	3,933	
Annual Audit	5,600	5,600	-	5,600	5,700	
Trustee Fees	6,500	4,353	2,147	6,500	6,500	
Management Fees	50,085	37,564	12,521	50,085	53,090	
Website Maintenance	1,200	900	300	1,200	1,200	
Information Technology	1,800	1,350	450	1,800	1,800	
Telephone	300	10	290	300	300	
Postage	2,500	91	200	291	500	
Insurance General Liability	5,913	5,590	-	5,590	6,149	
Printing	2,500	198	302	500	500	
Legal Advertising	2,500	-	1,500	1,500	2,500	
Other Current Charges	700	62	638	700	700	
Office Supplies	100	1	99	100	100	
Dues, Licenses & Subscriptions	175	175	-	175	175	
TOTAL ADMINISTRATIVE	$	122,501	$	71,828	$	32,091	$	103,919	$	115,918	

Operations & Maintenance						
Ground Maintenance						
Electric	$	1,500	$	-	$	1,500	$	1,500	$	1,500	
Water & Sewer/Irrigation	30,000	7,536	6,964	14,500	23,000	
Repairs & Maintenance	5,000	-	5,000	5,000	5,000	
Landscape - Contract	97,476	41,880	55,596	97,476	118,520	
Landscape - Contingency	20,000	11,042	10,000	21,042	20,000	
Lake Maintenance	10,000	2,760	4,600	7,360	11,040	
Irrigation Repairs	5,000	3,567	1,433	5,000	10,000	
TOTAL GROUND MAINTENANCE	$	168,976	$	66,784	$	85,094	$	151,878	$	189,060	

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2024	6/30/24		3 Months		9/30/24	FY 2025	

Amenity Center						
Insurance	$	5,000	$	4,045	$	-	$	4,045	$	4,571	
Internet	3,000	-	1,500	1,500	2,000	
Electric	16,000	-	5,000	5,000	16,000	
Water/Irrigation	15,000	-	7,500	7,500	15,000	
Refuse Service	2,500	-	1,000	1,000	1,000	
Access Cards	2,500	-	2,500	2,500	2,500	
Janitorial Maintenance	14,000	-	7,000	7,000	14,000	
Janitorial Supplies	4,000	-	4,000	4,000	4,000	
Pool Maintenance	15,000	-	15,000	15,000	15,000	
Pool Chemicals	10,000	-	10,000	10,000	10,000	
Pool Permit	500	-	500	500	500	
Facility Maintenance	7,500	417	7,083	7,500	7,500	
Repairs & Maintenance	10,000	-	5,000	5,000	10,000	
Office Supplies	200	-	200	200	200	
ASCAP/BMI License Fees	500	-	500	500	500	
Pest Control	800	-	800	800	800	
TOTAL AMENITY CENTER	$	106,500	$	4,462	$	67,583	$	72,045	$	103,571	
						
TOTAL EXPENDITURES	$	397,977	$	143,074	$	184,768	$	327,842	$	408,550	

Other Sources/(Uses)						
Interlocal Transfer In/(Out)	$	-	$	-	$	-	$	-	$	-	
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	
						
EXCESS REVENUES (EXPENDITURES)	$	-	$	69,514	$	(69,514)	$	-	$	-	

REVENUES

Special Assessments
The District will levy a Non-Ad Valorem assessment on all sold and platted parcels within the District in order to pay for the operating expenditures during the Fiscal Year. The assessments will be collected by the Clay County Tax Collectors Office.

Developer Contribution
The District will collect from Developer for unplated lot of the district.

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 Taxes
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 Rebate
The District is required to annually have an arbitrage rebate calculation on the District’s Series Special Assessment Revenue Bonds.
Assessment Roll Administration
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 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.
Annual Audit
The District is required to conduct an annual audit of its financial records by an Independent Certified Public Accounting Firm Grau and Associates. The budgeted amount for the fiscal year is based on contracted fees from the previous year engagement plus anticipated increase.
Trustee Fees
The District bonds will be held and administered by a US Bank Trustee. This represents the trustee annual fee.
Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services, LLC. The budgeted amount for the fiscal year is based on the contracted fees outlined in Exhibit "A" of the Management Agreement.
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.

Expenditures - Administrative (continued)

Telephone
New internet and Wi-Fi service for Office.
Postage and Delivery
Actual postage and/or freight used for District mailings including agenda packages, vendor checks, budgest, audit reports and other correspondence.
Insurance General Liability
The District's General Liability & Public Officials Liability Insurance policy is with a qualified entity that specializes in providing insurance coverage to governmental agencies. The amount budgeted represents the estimated premium.
Printing
Copies used in the preparation of agenda packages, required mailings, and other special projects.
Legal Advertising
The District is required to advertise various notices for monthly Board meetings and other public hearings in a newspaper of general circulation.
Other Current Charges
This includes monthly bank charges and any other miscellaneous expenses that incur 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 the Florida Department of Commerce for $175.

Expenditures – Ground Maintenance

Electric
Estimated costs for electric billed to the District by utility company.
Water & Sewer/Irrigation
Cost of reclaimed irrigation service from Clay County Utility Authority used by the district. The District has the following meters:
Location	Meter #	Monthly	Annual	
2719 Windsor Lake	A00052464	$	218	$	2,621	
2946 Windsor Lakes Way	A00052466	852	10,228	
2750 Windsor Lakes Way	A00052463	246	2,952	
2997 Monroe Lakes Terrace		250	3,000	
2523 Block Island Parkway		250	3,000	
Contingency		100	1,200	
	Total	$	1,917	$	23,000	
Repairs & Maintenance
Any costs related to miscellaneous repairs and maintenance that occur during the fiscal year.
Landscape - Contract
The District is contracted with a United Land Services to maintain the common areas of the District, tree removals, tree trimmings, additional mulching and new projects and replacements.
Service	Monthly	Annual	
Phase IA	$	3,013	$	36,156	
Phase IB	4,173	50,076	
Amenity Center	1,184	14,208	
Mulch		18,080	
Total	$	8,370	$	118,520	
Landscape - Contingency
Estimated costs for other landscape maintenance incurred by the District.

Lake Maintenance
The District is under contract with The Lake Doctors, Inc. for the maintenance of the 12 ponds at the District.

Irrigation Repairs
Estimated miscellaneous irrigation maintenance and repair costs.

Expenditures – Amenity Center

Insurance
The District's property Insurance policy is with Florida Insurance Alliance, FIA specializes in providing insurance coverage to governmental agencies. The amount budgeted represents the estimated premium for property insurance related to the Amenity Center.
Internet
Estimated costs for Internet in the Amenity Center.
Electric
Estimated costs for electric billed to the District by utility company.
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
The district has contracted with GMS LLC for the administration of maintenance contracts for swimming pools, landscapes, and lakes, as well as for reservation services for district facilities and maintenance of the recreation access system.

Repairs & 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.

Adopted Budget
Debt Service Series 2022 Special Assessment Revenue Bonds

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
	Description	FY2024	6/30/24		3 Months		9/30/24	FY 2025	

REVENUES:							

Special Assessments	
$	346,815	
$	347,333	
$	-	
$	346,841	
$	346,815	
Interest Earnings	500	11,201	1,000	12,201	2,000	
Carry Forward Surplus (1)	111,555	119,458	-	119,458	134,265	
TOTAL REVENUES	$	458,870	$	477,992	$	1,000	$	478,500	$	483,079	

EXPENDITURES:

Interest Expense 11/1	$	109,618	

$	109,618	

$	-	

$	109,618	

$	107,930	
Interest Expense 5/1	109,618	109,618	-	109,618	107,930	
Principal Expense 5/1	125,000	125,000	-	125,000	130,000	
TOTAL EXPENDITURES	$	344,235	$	344,235	$	-	$	344,235	$	345,860	

Other Sources/(Uses)	

Interfund transfer In/(Out)	
$	-	
$	-	
$	-	
$	-	
$	-	
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	
						
TOTAL EXPENDITURES	$	344,235	$	344,235	$	-	$	344,235	$	345,860	
						
EXCESS REVENUES (EXPENDITURES)	$	114,635	$	133,757	$	1,000	$	134,265	$	137,219	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/25

$	106,175

Anabelle Island
Community Development District
AMORTIZATION SCHEDULE
Debt Service Series 2022 Special Assessment Revenue Bonds

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

11/01/24	$	5,940,000	2.700%	$	-	$	107,930		
05/01/25	5,940,000	2.700%	130,000	107,930	345,860.00	
11/01/25	5,810,000	2.700%		106,175		
05/01/26	5,810,000	2.700%	135,000	106,175	347,350.00	
11/01/26	5,675,000	2.700%		104,353		
05/01/27	5,675,000	2.700%	140,000	104,353	348,705.00	
11/01/27	5,535,000	2.700%		102,463		
05/01/28	5,535,000	3.100%	140,000	102,463	344,925.00	
11/01/28	5,395,000	3.100%		100,293		
05/01/29	5,395,000	3.100%	145,000	100,293	345,585.00	
11/01/29	5,250,000	3.100%		98,045		
05/01/30	5,250,000	3.100%	150,000	98,045	346,090.00	
11/01/30	5,100,000	3.100%		95,720		
05/01/31	5,100,000	3.100%	155,000	95,720	346,440.00	
11/01/31	4,945,000	3.100%		93,318		
05/01/32	4,945,000	3.100%	160,000	93,318	346,635.00	
11/01/32	4,785,000	3.100%		90,838		
05/01/33	4,785,000	3.500%	165,000	90,838	346,675.00	
11/01/33	4,620,000	3.500%		87,950		
05/01/34	4,620,000	3.500%	170,000	87,950	345,900.00	
11/01/34	4,450,000	3.500%		84,975		
05/01/35	4,450,000	3.500%	180,000	84,975	349,950.00	
11/01/35	4,270,000	3.500%		81,825		
05/01/36	4,270,000	3.500%	185,000	81,825	348,650.00	
11/01/36	4,085,000	3.500%		78,588		
05/01/37	4,085,000	3.500%	190,000	78,588	347,175.00	
11/01/37	3,895,000	3.500%		75,263		
05/01/38	3,895,000	3.500%	195,000	75,263	345,525.00	
11/01/38	3,700,000	3.500%		71,850		
05/01/39	3,700,000	3.500%	205,000	71,850	348,700.00	
11/01/39	3,495,000	3.500%		68,263		
05/01/40	3,495,000	3.500%	210,000	68,263	346,525.00	
11/01/40	3,285,000	3.500%		64,588		
05/01/41	3,285,000	3.500%	220,000	64,588	349,175.00	
11/01/41	3,065,000	3.500%		60,738		
05/01/42	3,065,000	3.500%	225,000	60,738	346,475.00	
11/01/42	2,840,000	3.500%		56,800		
05/01/43	2,840,000	4.000%	235,000	56,800	348,600.00	
11/01/43	2,605,000	4.000%		52,100		
05/01/44	2,605,000	4.000%	245,000	52,100	349,200.00	
11/01/44	2,360,000	4.000%		47,200		
05/01/45	2,360,000	4.000%	255,000	47,200	349,400.00	
11/01/45	2,105,000	4.000%		42,100		
05/01/46	2,105,000	4.000%	265,000	42,100	349,200.00	
11/01/46	1,840,000	4.000%		36,800		
05/01/47	1,840,000	4.000%	275,000	36,800	348,600.00	
11/01/47	1,565,000	4.000%		31,300		
05/01/48	1,565,000	4.000%	290,000	31,300	352,600.00	
11/01/48	1,275,000	4.000%		25,500		
05/01/49	1,275,000	4.000%	300,000	25,500	351,000.00	
11/01/49	975,000	4.000%		19,500		
05/01/50	975,000	4.000%	310,000	19,500	349,000.00	
11/01/50	665,000	4.000%		13,300		
05/01/51	665,000	4.000%	325,000	13,300	351,600.00	
11/01/51	340,000	4.000%		6,800		
05/01/52	340,000	4.000%	340,000	6,800	353,600.00	
Total	$	5,940,000	$	3,809,140	$	9,749,140	

Anabelle Island
Community Development District
Non-Ad Valorem Assessments Comparison 2024-2025

O&M	Bonds
Neighborhood	Units	2022	Annual Maintenance Assessments
Units	
Annual Debt Assessments	
Total Assessed Per Unit	
	
FY 2025	
FY2024	Increase/ (decrease)	
FY 2025	
FY2024	Increase/ (decrease)	
FY 2025	
FY2024	Increase/ (decrease)	

40'	

75	

75	

$800.00	

$800.00	

$0.00	

$999.87	

$999.87	

$0.00	

$1,799.87	

$1,799.87	

$0.00	
50'	136	136	$800.00	$800.00	$0.00	$999.87	$999.87	$0.00	$1,799.87	$1,799.87	$0.00	
Direct Bill - Unplatted	158	158	$326.56	$326.56	$0.00	$939.88	$939.88	$0.00	$1,266.44	$1,266.44	$0.00	
Total	369	369										

40'	

75	

75	

$60,000.00	

$60,000.00	

$0.00	

$74,990.15	

$74,990.15	

$0.00	

$134,990.15	

$134,990.15	

$0.00	
50'	136	136	$108,800.00	$108,800.00	$0.00	$135,982.13	$135,982.13	$0.00	$244,782.13	$244,782.13	$0.00	
Direct Bill - Unplatted	158	158	$51,596.63	$51,596.63	$0.00	$148,500.73	$148,500.73	$0.00	$200,097.36	$200,097.36	$0.00	
Total	369	369										

Gross Assessments			

$168,800.00	

$168,800.00	

$0.00	

$210,972.28	

$210,972.28	

$0.00	

$379,772.28	

$379,772.28	

$0.00	
Less: Discount	4.00%		$6,752.00	$6,752.00	$0.00	$8,438.89	$8,438.89	$0.00	$15,190.89	$15,190.89	$0.00	
Less: Commission fees	2.00%		$3,376.00	$3,376.00	$0.00	$4,219.45	$4,219.45	$0.00	$7,595.45	$7,595.45	$0.00	
Direct Bill - Unplatted			$51,596.63	$51,596.63	$0.00	$148,500.73	$148,500.73	$0.00	$200,097.36	$200,097.36	$0.00	
Net Assessments	$210,268.63	$210,268.63	$0.00	$346,814.67	$346,814.67	$0.00	$557,083.30	$557,083.30	$0.00	

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