Stoneybrook South at ChampionsGate Community Development District
Adopted Budget FY 2020

Table of Contents

1	 	General Fund	

2-5	
 	General Fund Narrative	

6	
 	Debt Service Fund Series 2017	

7	
 	Amortization Schedule Series 2017	

8	
 	Debt Service Fund Series 2019	

9	
 	Amortization Schedule Series 2019	

Stoneybrook South at ChampionsGate
Community Development District

		Fiscal Year 2020 General Fund		
	Adopted Budget
FY2019	Actual Thru
6/30/19	Projected Next 3
Months	Total Thru
9/30/19	Adopted Budget
FY2020	

Revenues						
Special Assessments	$289,202	$150,558	$75,036	$225,594	$480,918	
Total Revenues	$289,202	$150,558	$75,036	$225,594	$480,918	

Expenditures						
Administrative						
Supervisor Fees	$0	$0	$0	$0	$0	
FICA Expense	$0	$0	$0	$0	$0	
Engineering	$12,000	$16,048	$1,952	$18,000	$12,000	
Attorney	$25,000	$15,202	$5,798	$21,000	$25,000	
Dissemination	$3,500	$3,208	$1,750	$4,958	$7,500	
Arbitrage	$0	$0	$0	$0	$450	
Annual Audit	$4,000	$2,975	$2,975	$5,950	$4,050	
Trustee Fees	$4,500	$4,310	$0	$4,310	$9,000	
Assessment Administration	$5,000	$5,000	$0	$5,000	$5,000	
Management Fees	$32,500	$24,375	$8,125	$32,500	$32,500	
Information Technology	$600	$450	$2,425	$2,875	$2,400	
Telephone	$300	$29	$21	$50	$300	
Postage	$1,000	$62	$38	$100	$1,000	
Printing & Binding	$1,000	$173	$172	$345	$1,000	
Insurance	$5,000	$5,000	$0	$5,000	$5,500	
Legal Advertising	$2,500	$1,191	$1,309	$2,500	$2,500	
Other Current Charges	$1,000	$3,400	$0	$3,400	$1,000	
Office Supplies	$625	$7	$8	$15	$625	
Property Appraiser	$250	$312	$0	$312	$350	
Dues, Licenses & Subscriptions	$175	$175	$0	$175	$175	
Field						
Field Services	$15,000	$11,250	$3,750	$15,000	$15,000	
Property Insurance	$665	$1,748	$0	$1,748	$5,000	
Electric	$0	$534	$675	$1,209	$7,500	
Streetlights	$600	$8,699	$3,303	$12,002	$50,000	
Water & Sewer	$110,000	$17,066	$4,504	$21,570	$75,000	
Landscape Maintenance	$48,987	$36,740	$12,247	$48,987	$138,903	
Landscape Contingency	$0	$1,650	$1,650	$3,300	$15,000	
Irrigation Repairs	$0	$1,013	$6,000	$7,013	$10,000	
Lake Maintenance	$0	$0	$0	$0	$10,000	
Contingency	$15,000	$8,275	$0	$8,275	$15,000	
Capital Reserve	$0	$0	$0	$0	$29,165	
Total Expenditures	$289,202	$168,893	$56,702	$225,594	$480,918	
						
Excess Revenues/(Expenditures)	$0	($18,334)	$18,334	$0	($0)	

Stoneybrook South at ChampionsGate
Community Development District
GENERAL FUND BUDGET

REVENUES:

Special Assessments

The District will levy a non-ad valorem special assessment on all the assessment property within the District in order to pay for the operating expenditures during the fiscal year.

EXPENDITURES:

Administrative:

Engineering

The District's engineer, KMP Franklin, will be providing general engineering services to the District,
e.g. attendance and preparation for monthly board meetings, review invoices, preparation and review of contract specifications and bid documents and various projects assigned as directed by the Board of Supervisors and the District Manager.

Attorney

The District's legal counsel, Latham, Shuker, Eden & Beaudine, will be providing general legal services to the District, e.g. attendance and preparation for board monthly meetings, preparation and review of agreements, resolutions and other research as directed by the Board of Supervisors and the District Manager.

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.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on the Series 2019 Special Assessment Bonds.

Annual Audit

The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm if State requirements have been met. The District currently contracts McDirmit, Davis & Company for this service.

Trustee Fees

The District will pay annual trustee fees for the Series 2017 & Series 2019 Special Assessment Bonds that are located with a Trustee at USBank.

Stoneybrook South at ChampionsGate
Community Development District
GENERAL FUND BUDGET

Assessment Administration

The District has contracted with Governmental Management Services-Central Florida, LLC to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Management Fees

The District will be contracting with Governmental Management Services-CF, LLC to provide Management, Accounting and Recording Secretary Services for the District. 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 District’s accounting and information systems, District’s website one time registration fees, creation and monthly maintenance, electronic compliance with Florida Statutes and other electronic date requirements.

Telephone

Telephone and fax machine.

Postage

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

Printing & Binding

Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes. Photocopies and other printed material.

Insurance

The District’s general liability, public officials liability and property insurance coverages. The coverage is provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Legal Advertising

The District is required to advertise various notices for monthly Board meetings, public hearings, etc in a newspaper of general circulation.

Other Current Charges

Bank charges and any other miscellaneous expenses incurred during the year.

Office Supplies

Miscellaneous office supplies.

Stoneybrook South at ChampionsGate
Community Development District
GENERAL FUND BUDGET

Property Appraiser

Represents a fee charged by Osceola County Property Appraiser’s office for assessment administration services.

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.

Field:

Field Services

Provide onsite field management of contracts for the District such as landscape maintenance. Services to include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Electric

Represents estimated electric cost.

Streetlights

Represents costs for streetlights maintained with the District. Currently the District has 2 accounts with Duke Energy and is projected to have at least two more come on line in the fiscal year.

Account #	Description	Monthly	Annual	
11636 69020	000 Westside Blvd Lite, SB Tract K SL	$550	$6,600	
57688 66338	000 Westside Blvd Lite, SS Tract K PH3 SL	$550	$6,600	
	000 Tri County Rd, N Parcel Entry	$800	$9,600	
	Whistling Straits SL	$1,460	$17,520	
	Contingency		$9,680	
Total			$50,000	

Water & Sewer

Represents estimated reclaimed water cost. District currently has two accounts with Toho Water Authority and Is projected to have more come on line in the fiscal year.

Account #	Description	Monthly	Annual	
2627512-33111069	1500 Olympic Club Blvd. Meter A	$2,250	$27,000	
2627512-33169919	1000 Whistling Straits	$2,250	$27,000	
	Contingency		$21,000	
Total			$75,000	

Stoneybrook South at ChampionsGate
Community Development District
GENERAL FUND BUDGET

Landscape Maintenance

The District will maintain the landscaping within Tract K area of the District after installation of landscape material has been completed.

Description	Monthly	Annual	
Landscape Maintenance			
Tract K	$4,082	$48,987	
Tract K-2	$764	$9,167	
Westside Blvd. Area 1	$688	$8,250	
Westside Blvd. Area 2	$354	$4,250	
Baxter Tract	$813	$9,750	
North Whistling Straits	$4,875	$58,500	
Total		$138,903	

Landscape Contingency

Represents costs for installation of annuals, mulch and any other landscape expenses not covered under monthly landscape contract.

Description	Quarterly	Annual	
Landscape Contingency			
Annuals	$825	$3,300	
Mulch		$5,500	
Contingency		$6,200	
Total		$15,000	

Irrigation Repairs

Represents estimated costs for any supplies and repairs to irrigation system maintained by the District.

Lake Maintenance

Represents costs for maintenance to the ponds located within the District. The District is projecting to maintain 1 pond with a possible additional 10 ponds to come on line during the fiscal year.

Description	Quarterly	Annual	
Pond Maintenance	$200
Contingency - 10 Future Ponds
Total	$800
$9,200	
	$10,000	

Contingency

Represents any additional field expense that may not have been provided for in the budget.

Capital Reserve

Represents estimated costs for any capital reserve expenses.

Stoneybrook South at ChampionsGate
Community Development District

	Fiscal Year 2020
Debt Service Fund		
	Series 2017		
	Adopted
Budget FY2019	Actual
Thru 6/30/19	Projected
Next 3 Months	Total
Thru 9/30/19	Adopted
Budget FY2020	

Revenues						
Special Assessments	$301,800	$303,205	$0	$303,205	$301,800	
Interest Income	$0	$815	$185	$1,000	$0	
Carry Forward Surplus	$167,244	$164,226	$0	$164,226	$197,744	
Total Revenues	$469,044	$468,246	$185	$468,431	$499,544	

Expenses						
Interest - 12/15	$108,325	$108,325	$0	$108,325	$107,363	
Principal - 12/15	$55,000	$55,000	$0	$55,000	$85,000	
Interest - 6/15	$107,363	$107,363	$0	$107,363	$105,875	
Total Expenditures	$270,688	$270,688	$0	$270,688	$298,238	
						
Excess Revenues/(Expenditures)	$198,356	$197,559	$185	$197,744	$201,306	
				
Principal - 12/15/2020	
$90,000	
				Interest - 12/15/2020	 	$105,875 	
				Total	 	$195,875 	
				
Net Assessment	
$301,800	
				Collection Cost (6%)	$19,264	
				Gross Assessment	$321,064	

Stoneybrook South at ChampionsGate Community Development District Series 2017, Special Assessment Bonds

al

Interest

Annual

Date	Balance	Princip	
12/15/19	$ 4,655,000	$	8	
6/15/20	$ 4,570,000	$	
12/15/20	$ 4,570,000	$	9	
6/15/21	$ 4,480,000	$	
12/15/21	$ 4,480,000	$	9	
6/15/22	$ 4,390,000	$	
12/15/22	$ 4,390,000	$	9	
6/15/23	$ 4,295,000	$	
12/15/23	$ 4,295,000	$	9	
6/15/24	$ 4,200,000	$	
12/15/24	$ 4,200,000	$	10	
6/15/25	$ 4,100,000	$	
12/15/25	$ 4,100,000	$	10	
6/15/26	$ 3,995,000	$	
12/15/26	$ 3,995,000	$	11	
6/15/27	$ 3,885,000	$	
12/15/27	$ 3,885,000	$	11	
6/15/28	$ 3,770,000	$	
12/15/28	$ 3,770,000	$	12	
6/15/29	$ 3,650,000	$	
12/15/29	$ 3,650,000	$	12	
6/15/30	$ 3,525,000	$	
12/15/30	$ 3,525,000	$	13	
6/15/31	$ 3,395,000	$	
12/15/31	$ 3,395,000	$	13	
6/15/32	$ 3,260,000	$	
12/15/32	$ 3,260,000	$	14	
6/15/33	$ 3,120,000	$	
12/15/33	$ 3,120,000	$	14	
6/15/34	$ 2,975,000	$	
12/15/34	$ 2,975,000	$	15	
6/15/35	$ 2,820,000	$	
12/15/35	$ 2,820,000	$	16	
6/15/36	$ 2,660,000	$	
12/15/36	$ 2,660,000	$	17	
6/15/37	$ 2,490,000	$	
12/15/37	$ 2,490,000	$	17	
6/15/38	$ 2,315,000	$	
12/15/38	$ 2,315,000	$	18	
6/15/39	$ 2,130,000	$	
12/15/39	$ 2,130,000	$	19	
6/15/40	$ 1,935,000	$	
12/15/40	$ 1,935,000	$	20	
6/15/41	$ 1,735,000	$	
12/15/41	$ 1,735,000	$	21	
6/15/42	$ 1,520,000	$	
12/15/42	$ 1,520,000	$	22	
6/15/43	$ 1,295,000	$	
12/15/43	$ 1,295,000	$	23	
6/15/44	$ 1,060,000	$	
12/15/44	$ 1,060,000	$	24	
6/15/45	$	815,000	$	
12/15/45	$	815,000	$	26	
6/15/46	$	555,000	$	
12/15/46	$	555,000	$	27	
6/15/47	$	285,000	$	
12/15/47	$	285,000	$	28	
Totals		$	4,65	

(Term Bonds Combined) Amortization Schedule

5,000

$	107,362.50	$	192,362.50	
$	105,875.00	$	-	
$	105,875.00	$	301,750.00	
$	104,300.00	$	-	
$	104,300.00	$	298,600.00	
$	102,725.00	$	-	
$	102,725.00	$	300,450.00	
$	101,062.50	$	-	
$	101,062.50	$	297,125.00	
$	99,400.00	$	-	
$	99,400.00	$	298,800.00	
$	97,400.00	$	-	
$	97,400.00	$	299,800.00	
$	95,300.00	$	-	
$	95,300.00	$	300,600.00	
$	93,100.00	$	-	
$	93,100.00	$	301,200.00	
$	90,800.00	$	-	
$	90,800.00	$	301,600.00	
$	88,400.00	$	-	
$	88,400.00	$	301,800.00	
$	85,509.38	$	-	
$	85,509.38	$	301,018.75	
$	82,503.13	$	-	
$	82,503.13	$	300,006.25	
$	79,381.25	$	-	
$	79,381.25	$	298,762.50	
$	76,143.75	$	-	
$	76,143.75	$	297,287.50	
$	72,790.63	$	-	
$	72,790.63	$	300,581.25	
$	69,206.25	$	-	
$	69,206.25	$	298,412.50	
$	65,506.25	$	-	
$	65,506.25	$	301,012.50	
$	61,575.00	$	-	
$	61,575.00	$	298,150.00	
$	57,528.13	$	-	
$	57,528.13	$	300,056.25	
$	53,250.00	$	-	
$	53,250.00	$	301,500.00	
$	48,375.00	$	-	
$	48,375.00	$	296,750.00	
$	43,375.00	$	-	
$	43,375.00	$	301,750.00	
$	38,000.00	$	-	
$	38,000.00	$	301,000.00	
$	32,375.00	$	-	
$	32,375.00	$	299,750.00	
$	26,500.00	$	-	
$	26,500.00	$	298,000.00	
$	20,375.00	$	-	
$	20,375.00	$	300,750.00	
$	13,875.00	$	-	
$	13,875.00	$	297,750.00	
$	7,125.00	$	-	
$	7,125.00	$	299,250.00	
$	3,930,875	$ 8,585,875.00	

-    0,000
-    0,000
-    5,000
-    5,000
-    0,000
-    5,000
-    0,000
-    5,000
-    0,000
-    5,000
-    0,000
-    5,000
-    0,000
-    5,000
-    5,000
-    0,000
-    0,000
-    5,000
-    5,000
-    5,000
-    0,000
-    5,000
-    5,000
-    5,000
-    5,000
-    0,000
-    0,000
-    5,000

5,000

Stoneybrook South at ChampionsGate
Community Development District

	Fiscal Year 2020
Debt Service Fund		
	Series 2019		
	Proposed Budget
FY2019	Actual Thru
6/30/19	Projected Next 3
Months	Total Thru
9/30/19	Adopted Budget
FY2020	

Revenues						
Special Assessments	$324,231	$0	$324,231	$324,231	$899,894	
Interest Income	$0	$145	$55	$200	$100	
Bond Proceeds	$532,806	$532,806	$0	$532,806	$0	
Carry Forward Surplus	$0	$0	$0	$0	$324,431	
Total Revenues	$857,037	$532,950	$324,286	$857,236	$1,224,424	

Expenses						
Interest - 12/15	$0	$0	$0	$0	$324,231	
Principal - 6/15	$0	$0	$0	$0	$255,000	
Interest - 6/15	$82,859	$82,859	$0	$82,859	$324,231	
Total Expenditures	$82,859	$82,859	$0	$82,859	$903,463	
						
Excess Revenues/(Expenditures)	$774,178	$450,091	$324,286	$774,377	$320,962	
				
Interest - 12/15/2020	
 	$319,769 	
				Total	 	$319,769 	
				
Net Assessment	
$899,894	
				Collection Cost (6%)	$57,440	
				Gross Assessment	$957,334	
						
		Property Type	Units	Gross Per Unit	Gross Total	
		Condo	80	$989	$79,120	
		Townhome	214	$1,094	$234,116	
		Single Family 40'	207	$1,302	$269,514	
		Single Family 50'	173	$1,406	$243,238	
		Single Family 60'	54	$1,510	$81,540	
		Single Family 80'	29	$1,719	$49,851	
		Total	757		$957,379	

Stoneybrook South at ChampionsGate Community Development District Series 2019, Special Assessment Bonds

al

Interest

Annual

Date	Balance	Princip	
6/15/19	$ 14,735,000	$	
12/15/19	$ 14,735,000	$	
6/15/20	$ 14,735,000	$	25	
12/15/20	$ 14,480,000	$	
6/15/21	$ 14,480,000	$	26	
12/15/21	$ 14,220,000	$	
6/15/22	$ 14,220,000	$	27	
12/15/22	$ 13,950,000	$	
6/15/23	$ 13,950,000	$	28	
12/15/23	$ 13,670,000	$	
6/15/24	$ 13,670,000	$	29	
12/15/24	$ 13,380,000	$	
6/15/25	$ 13,380,000	$	30	
12/15/25	$ 13,080,000	$	
6/15/26	$ 13,080,000	$	31	
12/15/26	$ 12,765,000	$	
6/15/27	$ 12,765,000	$	33	
12/15/27	$ 12,435,000	$	
6/15/28	$ 12,435,000	$	34	
12/15/28	$ 12,095,000	$	
6/15/29	$ 12,095,000	$	35	
12/15/29	$ 11,740,000	$	
6/15/30	$ 11,740,000	$	37	
12/15/30	$ 11,370,000	$	
6/15/31	$ 11,370,000	$	38	
12/15/31	$ 10,985,000	$	
6/15/32	$ 10,985,000	$	40	
12/15/32	$ 10,580,000	$	
6/15/33	$ 10,580,000	$	42	
12/15/33	$ 10,160,000	$	
6/15/34	$ 10,160,000	$	44	

(Term Bonds Combined) Amortization Schedule

$	82,859	$	-	
$	324,231	$	407,090	
$	324,231	$	-	
$	319,769	$	899,000	
$	319,769	$	-	
$	315,219	$	894,988	
$	315,219	$	-	
$	310,494	$	895,713	
$	310,494	$	-	
$	305,594	$	896,088	
$	305,594	$	-	
$	300,519	$	896,113	
$	300,519	$	-	
$	294,519	$	895,038	
$	294,519	$	-	
$	288,219	$	897,738	
$	288,219	$	-	
$	281,619	$	899,838	
$	281,619	$	-	
$	274,819	$	896,438	
$	274,819	$	-	
$	267,719	$	897,538	
$	267,719	$	-	
$	260,319	$	898,038	
$	260,319	$	-	
$	251,656	$	896,975	
$	251,656	$	-	
$	242,544	$	899,200	
$	242,544	$	-	
$	233,094	$	895,638	
$	233,094	$	-	
$	223,194	$	896,288	
$	223,194	$	-	
$	212,844	$	896,038	
$	212,844	$	-	
$	201,931	$	899,775	
$	201,931	$	-	
$	190,569	$	897,500	
$	190,569	$	-	
$	178,644	$	899,213	
$	178,644	$	-	
$	166,269	$	894,913	
$	166,269	$	-	
$	152,856	$	899,125	
$	152,856	$	-	
$	138,866	$	896,722	
$	138,866	$	-	
$	124,181	$	898,047	
$	124,181	$	-	
$	108,803	$	897,984	
$	108,803	$	-	
$	92,731	$	896,534	
$	92,731	$	-	
$	75,850	$	898,581	
$	75,850	$	-	
$	58,159	$	899,009	
$	58,159	$	-	
$	39,659	$	897,819	
$	39,659	$	-	
$	20,234	$	899,894	
$	20,234	$	895,234	

-

-    5,000
-    0,000
-    0,000
-    0,000
-    0,000
-    0,000
-    5,000
-    0,000
-    0,000
-    5,000
-    0,000
-    5,000
-    5,000
-    0,000
-    0,000

12/15/34	$ 9,720,000	$	
6/15/35	$ 9,720,000	$	46	
12/15/35	$ 9,260,000	$	
6/15/36	$ 9,260,000	$	48	
12/15/36	$ 8,775,000	$	
6/15/37	$ 8,775,000	$	50	
12/15/37	$ 8,270,000	$	
6/15/38	$ 8,270,000	$	53	
12/15/38	$ 7,740,000	$	
6/15/39	$ 7,740,000	$	55	
12/15/39	$ 7,190,000	$	
6/15/40	$ 7,190,000	$	58	
12/15/40	$ 6,610,000	$	
6/15/41	$ 6,610,000	$	60	
12/15/41	$ 6,005,000	$	
6/15/42	$ 6,005,000	$	63	
12/15/42	$ 5,370,000	$	
6/15/43	$ 5,370,000	$	66	
12/15/43	$ 4,705,000	$	
6/15/44	$ 4,705,000	$	69	
12/15/44	$ 4,010,000	$	
6/15/45	$ 4,010,000	$	73	
12/15/45	$ 3,280,000	$	
6/15/46	$ 3,280,000	$	76	
12/15/46	$ 2,515,000	$	
6/15/47	$ 2,515,000	$	80	
12/15/47	$ 1,715,000	$	
6/15/48	$ 1,715,000	$	84	
12/15/48	$	875,000	$	
6/15/49

Totals	$	875,000	$	87

$	14,73	

-    0,000
-    5,000
-    5,000
-    0,000
-    0,000
-    0,000
-    5,000
-    5,000
-    5,000
-    5,000
-    0,000
-    5,000
-    0,000
-    0,000
-    5,000

5,000   $	12,593,103 $ 27,328,102.85