Stoneybrook South at ChampionsGate Community Development District
Adopted Budget FY 2019

Table of Contents

1

2-4

5

 	General Fund

 	General Fund Narrative

 	Debt Service Fund Series 2017

6	 	Amortization Schedule Series 2017

Stoneybrook South at ChampionsGate
Community Development District

Fiscal Year 2019 General Fund

	Adopted
Budget	Actual
Thru	Next
3	Projected
Thru	Adopted
Budget	
Description	FY2018	6/30/18	Months	9/30/18	FY2019	

Revenues						
Developer Contributions	$87,365	$96,445	$51,529	$147,974	$289,202	
Total Revenues	$87,365	$96,445	$51,529	$147,974	$289,202	

Expenditures						
Administrative						
Supervisor Fees	$0	$0	$0	$0	$0	
FICA Expense	$0	$0	$0	$0	$0	
Engineering	$12,000	$12,554	$3,446	$16,000	$12,000	
Attorney	$25,000	$11,167	$5,833	$17,000	$25,000	
Dissemination	$0	$2,625	$875	$3,500	$3,500	
Annual Audit	$2,500	$3,000	$0	$3,000	$4,000	
Trustee Fees	$0	$0	$0	$0	$4,500	
Assessment Administration	$0	$0	$0	$0	$5,000	
Management Fees	$32,500	$24,375	$8,125	$32,500	$32,500	
Information Technology	$600	$450	$150	$600	$600	
Telephone	$300	$6	$19	$25	$300	
Postage	$1,000	$51	$49	$100	$1,000	
Printing & Binding	$1,000	$94	$56	$150	$1,000	
Insurance	$5,665	$5,500	$0	$5,500	$5,665	
Legal Advertising	$5,000	$415	$835	$1,250	$2,500	
Other Current Charges	$1,000	$0	$50	$50	$1,000	
Office Supplies	$625	$2	$13	$15	$625	
Property Appraiser	$0	$0	$0	$0	$250	
Dues, Licenses & Subscriptions	$175	$175	$0	$175	$175	
Field						
Field Services	$0	$0	$0	$0	$15,000	
Electric	$0	$145	$65	$210	$600	
Water & Sewer	$0	$33,034	$26,700	$59,734	$110,000	
Landscape Maintenance	$0	$0	$8,164	$8,164	$48,987	
Contingency	$0	$0	$0	$0	$15,000	
Total Expenditures	$87,365	$93,593	$54,380	$147,974	$289,202	
						
Excess Revenues/(Expenditures)	$0	$2,851	($2,851)	($0)	$0	

Stoneybrook South at ChampionsGate
Community Development District
GENERAL FUND BUDGET

REVENUES:

Developer Contributions

The District will enter into a Funding Agreement with the Developer to fund the General Fund expenditures for 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.

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 Special Assessment Bonds that are located with a Trustee at USBank.

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.

Stoneybrook South at ChampionsGate
Community Development District
GENERAL FUND BUDGET

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.

Property Appraiser

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

Stoneybrook South at ChampionsGate
Community Development District
GENERAL FUND BUDGET

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 Services

Represents estimated electric cost for entrance lights. District currently has one account with Duke Energy.

Account #	Description	Monthly	Annual	
16755 48354	15121 Olympic Club Boulevard	$40	$480	
	Contingency		$120	
Total			$600	

Water & Sewer

Represents estimated reclaimed water cost. District currently has one account with Toho Water Authority.

Account #	Description	Monthly	Annual	
2627512-33111069	1500 Olympic Club Blvd. Meter A	$9,000	$108,000	
	Contingency		$2,000	
Total			$110,000	

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	$4,082
Total	$48,987	
	$48,987	

Contingency

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

Stoneybrook South at ChampionsGate
Community Development District

		Fiscal Year 2019
Series 2017 Debt Service Fund		
	Proposed	Actual	Next	Total	Adopted		
	Budget FY2018	Thru 6/30/18	3
Months	Thru 9/30/18	Budget FY2019		

Revenues							
Special Assessments	$301,800	$135,406	$166,394	$301,800	$301,800		
Bond Proceeds	$150,900	$150,900	$0	$150,900	$0		
Interest Income	$0	$190	$60	$250	$0		
Carry Forward Surplus	$0	$0	$0	$0	$167,244	*	
Transfer In	$0	$601	$0	$601	$0		
Total Revenues	$452,700	$287,097	$166,454	$453,551	$469,044		

Expenses							
Interest - 12/15	$0	$0	$0	$0	$108,325		
Principal - 12/15	$0	$0	$0	$0	$55,000		
Interest - 6/15	$135,406	$135,406	$0	$135,406	$107,363		
Total Expenditures	$135,406	$135,406	$0	$135,406	$270,688		
							
Excess Revenues/(Expenditures)	$317,294	$151,691	$166,454	$318,144	$198,357		

*Represents  carry  forward surplus  less  debt service reserve amount.	Principal - 12/15/19		$55,000 Interest - 12/15/2019     $107,363 Total	 $107,363 

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
(Term Bonds Combined)

Amortization Schedule

Date	Balance	Principal	Interest	Annual

6/15/18	$ 4,710,000	$	
12/15/18	$ 4,710,000	$	5	
6/15/19	$ 4,655,000	$	
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

Totals	$	285,000	$	28

$	4,71	

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

135,406.25   $
108,325.00   $
107,362.50   $
107,362.50   $
105,875.00   $
105,875.00   $
104,300.00   $
104,300.00   $
102,725.00   $
102,725.00   $
101,062.50   $
101,062.50   $
99,400.00   $
99,400.00   $
97,400.00   $
97,400.00   $
95,300.00   $
95,300.00   $
93,100.00   $
93,100.00   $
90,800.00   $
90,800.00   $
88,400.00   $
88,400.00   $
85,509.38   $
85,509.38   $
82,503.13   $
82,503.13   $
79,381.25   $
79,381.25   $
76,143.75   $
76,143.75   $
72,790.63   $
72,790.63   $
69,206.25   $
69,206.25   $
65,506.25   $
65,506.25   $
61,575.00   $
61,575.00   $
57,528.13   $
57,528.13   $
53,250.00   $
53,250.00   $
48,375.00   $
48,375.00   $
43,375.00   $
43,375.00   $
38,000.00   $
38,000.00   $
32,375.00   $
32,375.00   $
26,500.00   $
26,500.00   $
20,375.00   $
20,375.00   $
13,875.00   $
13,875.00   $
7,125.00   $
7,125.00   $

- 298,731.25
- 299,725.00
- 301,750.00
- 298,600.00
- 300,450.00
- 297,125.00
- 298,800.00
- 299,800.00
- 300,600.00
- 301,200.00
- 301,600.00
- 301,800.00
- 301,018.75
- 300,006.25
- 298,762.50
- 297,287.50
- 300,581.25
- 298,412.50
- 301,012.50
- 298,150.00
- 300,056.25
- 301,500.00
- 296,750.00
- 301,750.00
- 301,000.00
- 299,750.00
- 298,000.00
- 300,750.00
- 297,750.00
- 299,250.00

0,000 $ 4,281,968.75 $ 8,991,968.75