Stoneybrook South at ChampionsGate Community Development District
Adopted Budget FY 2021

Table of Contents

1	 	General Fund	

2-6	
 	General Fund Narrative	

7	
 	Debt Service Fund Series 2017	

8	
 	Amortization Schedule Series 2017	

9	
 	Debt Service Fund Series 2019	

10	
 	Amortization Schedule Series 2019	

Stoneybrook South at ChampionsGate
Community Development District

		Fiscal Year 2021 General Fund		
	Adopted Budget
FY2020	Actual Thru
6/30/20	Projected Next 3
Months	Total Thru
9/30/20	Adopted Budget
FY2021	

Revenues						
Special Assessments	$480,918	$483,803	$0	$483,803	$645,135	
Developer Contributions	$0	$14,245	$0	$14,245	$0	
Total Revenues	$480,918	$498,048	$0	$498,048	$645,135	

Expenditures						
Administrative						
Supervisor Fees	$0	$0	$0	$0	$12,000	
FICA Expense	$0	$0	$0	$0	$918	
Engineering	$12,000	$17,294	$1,206	$18,500	$12,000	
Attorney	$25,000	$18,986	$6,015	$25,000	$25,000	
Dissemination	$7,500	$5,250	$1,750	$7,000	$7,500	
Arbitrage	$450	$450	$0	$450	$450	
Annual Audit	$4,050	$3,050	$0	$3,050	$4,135	
Trustee Fees	$9,000	$8,620	$0	$8,620	$9,000	
Assessment Administration	$5,000	$5,000	$0	$5,000	$5,000	
Management Fees	$32,500	$24,375	$8,125	$32,500	$35,000	
Information Technology	$2,400	$3,175	$300	$3,475	$1,200	
Telephone	$300	$0	$50	$50	$300	
Postage	$1,000	$94	$56	$150	$1,000	
Printing & Binding	$1,000	$152	$98	$250	$1,000	
Insurance	$5,500	$5,125	$0	$5,125	$5,650	
Legal Advertising	$2,500	$376	$2,124	$2,500	$2,500	
Other Current Charges	$1,000	$3,400	$0	$3,400	$1,000	
Office Supplies	$625	$13	$62	$75	$625	
Property Appraiser	$350	$237	$0	$237	$350	
Dues, Licenses & Subscriptions	$175	$175	$0	$175	$175	
Field						
Field Services	$15,000	$11,250	$3,750	$15,000	$15,000	
Property Insurance	$5,000	$4,120	$0	$4,120	$6,000	
Electric	$7,500	$283	$102	$385	$7,500	
Streetlights	$50,000	$21,811	$9,270	$31,081	$70,000	
Water & Sewer	$75,000	$19,617	$7,500	$27,117	$75,000	
Landscape Maintenance	$138,903	$76,581	$67,140	$143,721	$219,449	
Landscape Contingency	$15,000	$1,960	$3,040	$5,000	$15,000	
Irrigation Repairs	$10,000	$5,402	$2,098	$7,500	$15,000	
Lake Maintenance	$10,000	$0	$225	$225	$10,000	
Contingency	$15,000	$0	$2,500	$2,500	$15,000	
Repairs & Maintnenance	$0	$0	$7,500	$7,500	$5,000	
Capital Reserve	$29,165	$0	$0	$0	$67,383	
Total Expenditures	$480,918	$236,795	$122,910	$359,706	$645,135	
						
Excess Revenues/(Expenditures)	$0	$261,253	($122,910)	$138,343	$0	

Net Assessment	$645,135	
Collection Cost (6%)	$41,179	
Gross Assessment	$686,314	

Property Type	Units	Gross Per Unit	Gross Total	
Condo	80	$343	$27,437	
Townhome	308	$446	$137,319	
Single Family 40'	207	$549	$113,585	
Single Family 50'	308	$686	$211,257	
Single Family 60'	151	$823	$124,285	
Single Family 80'	66	$1,097	$72,431	
Total	1120		$686,314	

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:

Supervisors 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. The amount is based on 5 supervisors attending 12 meetings during the fiscal year.

FICA Expense

Represents the Employer’s share of Social Security and Medicare taxes withheld from Board of Supervisor checks.

Engineering

The District's engineer, Hamilton Engineering & Surveying, Inc., 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.

Stoneybrook South at ChampionsGate
Community Development District
GENERAL FUND BUDGET

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 Berger, Toombs, Elam, Gaines & Frank 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.

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.

Stoneybrook South at ChampionsGate
Community Development District
GENERAL FUND BUDGET

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.

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.

Property Insurance

Represents estimated costs for the annual coverage of property insurance. Coverage will be provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Electric

Represents estimated electric cost.

Stoneybrook South at ChampionsGate
Community Development District
GENERAL FUND BUDGET

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	
61765 94368	000 Westside Blvd Lite, SS Tract K PH2 SL	$600	$7,200	
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	
	Fox Property - Westside Blvd	$1,000	$12,000	
	Contingency		$10,480	
Total			$70,000	

Water & Sewer

Represents estimated reclaimed water cost. District currently has two accounts with Toho Water Authority and is projected to have more come online 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	

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	$3,170	$38,040	
North Whistling Straits	$5,339	$64,068	
Baxter Tract	$903	$10,830	
Phase 1 - Westside Blvd	$3,043	$36,512	
Fox Property Ph5 Pond 1	$391	$4,692	
Fox Property Ph5 Pond 2	$2,495	$29,937	
Fox Property Ph5 Pond 4	$912	$10,945	
Fox Property Ph5 Pond 6	$858	$10,295	
Fox Property Ph5 Pond 7	$344	$4,129	
Total		$209,449	

Stoneybrook South at ChampionsGate
Community Development District
GENERAL FUND BUDGET

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.

Repairs & Maintenance

Represents estimated costs for any repairs and maintenance to common areas maintained by the District.

Capital Reserve

Represents estimated costs for any capital reserve expenses.

Stoneybrook South at ChampionsGate
Community Development District

	Fiscal Year 2021
Debt Service Fund		
	Series 2017		
	Adopted
Budget FY2020	Actual
Thru 6/30/20	Projected
Next 3 Months	Total
Thru 9/30/20	Adopted
Budget FY2021	

Revenues						
Special Assessments	$301,800	$303,841	$0	$303,841	$301,800	
Interest Income	$0	$333	$17	$350	$250	
Carry Forward Surplus	$197,744	$199,903	$0	$199,903	$205,857	
Total Revenues	$499,544	$504,077	$17	$504,094	$507,907	

Expenses						
Interest - 12/15	$107,363	$107,363	$0	$107,363	$105,875	
Principal - 12/15	$85,000	$85,000	$0	$85,000	$90,000	
Interest - 6/15	$105,875	$105,875	$0	$105,875	$104,300	
Total Expenditures	$298,238	$298,238	$0	$298,238	$300,175	
						
Excess Revenues/(Expenditures)	$201,306	$205,840	$17	$205,857	$207,732	
				
Principal - 12/15/2021	
$90,000	
				Interest - 12/15/2021	 	$104,300 	
				Total	 	$194,300 	
				
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

pal

Interest

Annual

Date	Balance	Princi	
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		$	4,57	

(Term Bonds Combined) Amortization Schedule

0,000

$	105,875.00	$	195,875.00	
$	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	
$	3,717,638	$ 8,287,637.50	

-    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

0,000

-    5,000

Stoneybrook South at ChampionsGate
Community Development District

	Fiscal Year 2021
Debt Service Fund		
	Series 2019		
	Proposed Budget
FY2020	Actual Thru
6/30/20	Projected Next 3
Months	Total Thru
9/30/20	Adopted Budget
FY2021	

Revenues						
Special Assessments	$899,894	$904,025	$0	$904,025	$899,894	
Interest Income	$100	$622	$28	$650	$250	
Carry Forward Surplus	$324,431	$324,670	$0	$324,670	$327,699	
Transfer In	$0	$1,817	$0	$1,817	$0	
Total Revenues	$1,224,425	$1,231,134	$28	$1,231,162	$1,227,843	

Expenses						
Interest - 12/15	$324,231	$324,231	$0	$324,231	$319,769	
Principal - 6/15	$255,000	$255,000	$0	$255,000	$260,000	
Interest - 6/15	$324,231	$324,231	$0	$324,231	$319,769	
Total Expenditures	$903,463	$903,463	$0	$903,463	$899,538	
						
Excess Revenues/(Expenditures)	$320,963	$327,671	$28	$327,699	$328,305	
				
Interest - 12/15/2021	
 	$315,219 	
				Total	 	$315,219 	
				
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

pal

Interest

Annual

Date	Balance	Princi	
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	

$	319,769	$	319,769	
$	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	

(Term Bonds Combined) Amortization Schedule

-    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

$	14,48	

-    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

0,000   $	11,861,781 $ 26,341,781.25