Stoneybrook South at ChampionsGate Community Development District
Adopted Budget FY 2022

Table of Contents

1	 	General Fund	

2-7	
 	General Fund Narrative	

8	
 	Capital Reserve Fund	

9	
 	Debt Service Fund Series 2017	

10	
 	Amortization Schedule Series 2017	

11	
 	Debt Service Fund Series 2019	

12	
 	Amortization Schedule Series 2019	

13	
 	Debt Service Fund Series 2020	

14	
 	Amortization Schedule Series 2020	
Stoneybrook South at ChampionsGate
Community Development District

		Fiscal Year 2022 General Fund				
	Adopted
Budget FY2021	Actual
Thru 6/30/21	Projected
Next 3 Months	Total
Thru 9/30/21	Adopted
Budget FY2022	

Revenues						
Special Assessments - Tax Roll	$553,387	$559,204	$0	$559,204	$747,005	
Special Assessments - Direct Billed	$91,748	$91,748	$0	$91,748	$128,370	
Carry Forward Surplus	$0	$0	$0	$0	$189,927	
Total Revenues	$645,135	$650,952	$0	$650,952	$1,065,302	

Expenditures						
Administrative						
Supervisor Fees	$12,000	$1,200	$1,200	$2,400	$12,000	
FICA Expense	$918	$92	$92	$184	$918	
Engineering	$12,000	$1,623	$1,377	$3,000	$12,000	
Attorney	$25,000	$11,499	$8,501	$20,000	$25,000	
Dissemination	$7,500	$7,375	$2,750	$10,125	$11,000	
Arbitrage	$450	$450	$0	$450	$900	
Annual Audit	$4,135	$3,135	$0	$3,135	$5,118	
Trustee Fees	$9,000	$8,620	$0	$8,620	$13,500	
Assessment Administration	$5,000	$5,000	$0	$5,000	$5,000	
Management Fees	$35,000	$26,250	$8,750	$35,000	$35,000	
Information Technology	$1,200	$900	$300	$1,200	$1,050	
Website Maintenance	$0	$0	$0	$0	$600	
Telephone	$300	$0	$50	$50	$300	
Postage	$1,000	$126	$49	$175	$1,000	
Printing & Binding	$1,000	$325	$75	$400	$1,000	
Insurance	$5,650	$5,381	$0	$5,381	$5,950	
Legal Advertising	$2,500	$5,193	$1,500	$6,693	$2,500	
Other Current Charges	$1,000	$147	$28	$175	$1,000	
Office Supplies	$625	$2	$13	$15	$625	
Property Appraiser	$350	$265	$0	$265	$350	
Dues, Licenses & Subscriptions	$175	$175	$0	$175	$175	
Total Administrative	$124,803	$77,757	$24,685	$102,441	$134,986	

Operations & Maintenance						
Field Services	$15,000	$11,250	$3,750	$15,000	$15,000	
Property Insurance	$6,000	$5,467	$0	$5,467	$6,050	
Electric	$7,500	$482	$103	$585	$38,580	
Streetlights	$70,000	$45,794	$15,720	$61,514	$71,200	
Water & Sewer	$75,000	$21,441	$9,330	$30,771	$75,000	
Landscape Maintenance	$219,449	$156,276	$52,092	$208,368	$218,369	
Landscape Contingency	$15,000	$14,938	$0	$14,938	$15,000	
Irrigation Repairs	$15,000	$6,216	$3,784	$10,000	$15,000	
Lake Maintenance	$10,000	$2,310	$1,155	$3,465	$5,000	
Mitigation Monitoring & Maintenance	$0	$2,600	$875	$3,475	$7,100	
Contingency	$15,000	$0	$3,750	$3,750	$5,000	
Repairs & Maintnenance	$5,000	$0	$1,250	$1,250	$10,000	
Transfer Out - Capital Reserve	$67,383	$0	$0	$0	$449,017	
Total Operations & Maintenance	$520,332	$266,775	$91,809	$358,584	$930,316	
						
Total Expenditures	$645,135	$344,531	$116,494	$461,025	$1,065,302	
						
Excess Revenues/(Expenditures)	$0	$306,421	($116,494)	$189,927	$0	

Net Assessment	$875,375	
Collection Cost (6%)	$55,875	
Gross Assessment	$931,250	

Property Type	Units	Gross Per Unit	Gross Total	
Condo	200	$343	$68,592	
Townhome	374	$446	$166,744	
Single Family 40'	353	$549	$193,698	
Single Family 50'	397	$686	$272,302	
Single Family 60'	186	$823	$153,093	
Single Family 80'	70	$1,097	$76,821	
Total	1580		$931,250	
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 and Series 2020 Special Assessment Bonds (Fox South Assessment Area).
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 and Series 2020 Special Assessment Bonds (Fox South Assessment Area) 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 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.

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.
Stoneybrook South at ChampionsGate
Community Development District
GENERAL FUND BUDGET

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.

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.

Operations & Maintenance:

Field Services

Provide onsite field management of contracts for the District such as landscape and lae 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.
Stoneybrook South at ChampionsGate
Community Development District
GENERAL FUND BUDGET

Electric

Represents cost of electric services for items such as entrance lights, irrigation, etc. District currently has two accounts with Duke Energy.

Account #	Description	Monthly	Annual	
16755 46354	1521 Olympic Club Blvd, Entrance Lights	$40	$480	
79875 79276	90191 Leopard Creek Drive, Irrigation	$25	$300	
Contingency - 7 Fountains		$37,800	
Total		$38,580	

Streetlights

Represents costs for streetlights maintained with the District. Currently the District has 7 accounts with Duke Energy and is projected to have at least one more come on line in the fiscal year.

Account #	Description	Monthly	Annual	
02941 24271	000 Tri County Rd, N Parcel Entry	$800	$9,600	
08503 66264	0000 Whistling Straits Blvd Lite	$1,300	$15,600	
11636 69020	000 Westside Blvd Lite, SB Tract K SL	$550	$6,600	
38983 78529	0 Westside Blvd Lite, Fox Prop West Blvd SL	$700	$8,400	
57461 50046	000 Bella Citta Blvd Lite	$600	$7,200	
57688 66338	000 Westside Blvd Lite, SS Tract K PH3 SL	$550	$6,600	
61765 94368	000 Westside Blvd Lite, SS Tract K PH2 SL	$600	$7,200	
	Contingency - Fox Property 2C-1		$10,000	
Total			$71,200	

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	
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. The District has contracted with Down to Earth Lawncare II, Inc. for this service.

Description	Monthly	Annual	
Landscape Maintenance			
Tract K	$3,170	$38,040	
North Whistling Straits	$5,339	$64,068	
Baxter Tract	$813	$9,750	
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	
Contingency		$10,000	
Total		$218,369	

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 of 7 ponds located within the District. The District has contracted with The Lake Docotors Inc. for this service.

Description	Monthly	Annual		
Pond Maintenance - 7 Ponds	$385 Contingency
Total	$4,620
$380	
	$5,000	
Stoneybrook South at ChampionsGate
Community Development District
GENERAL FUND BUDGET

Mitigation Monitoring & Maintenance

Represents estimated costs for environmental monitoring, reporting and maintenance of mitigation areas within the District boundaries.

Description	Annual		
Semi-Annual Monitoring - $1,000 per event Annual Mitigation Monitoring
Quarterly Maintenance - Mitigation Areas - $875 per event
Total	$2,000
$1,600
$3,500	
	$7,100	

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.

Transfer Out – Capital Reserve

Represents excess revenue transferred to Capital Reserve fund for capital outlay expenses.
Stoneybrook South at ChampionsGate
Community Development District

Fiscal Year 2022 Capital Reserve Fund

	Adopted
Budget	Actual
Thru		Projected
Next 3	Total
Thru		Adopted
Budget	
	FY2021	6/30/21		Months	9/30/21		FY2022	

Revenues
Transfer In	

$0		

$0	

$0		

$0	

$449,017	
Total Revenues	$0		$0	$0		$0	$449,017	

Expenditures								
Capital Outlay	$0		$0	$0		$0	$77,075	
Total Expenditures	$0		$0	$0		$0	$77,075	
								
Excess Revenues/(Expenditures)	$0		$0	$0		$0	$371,942	

FY2022 Adopted Expenses	
Description	Amount	
Purchase & Installation of Fountains
Pond 1 Fountain	$	24,456
Pond 3 Fountain	$	28,163
Pond Bella Citta Fountain	$	24,456	
Total	$	77,075	
Stoneybrook South at ChampionsGate
Community Development District

	Fiscal Year 2022
Debt Service Fund					
	Series 2017					
	Adopted
Budget FY2021	Actual
Thru 6/30/21	Projected
Next 3 Months	Total
Thru 9/30/21	Adopted
Budget FY2022	

Revenues						
Special Assessments	$301,800	$305,100	$0	$305,100	$301,800	
Interest Income	$250	$15	$3	$18	$0	
Carry Forward Surplus	$205,857	$207,965	$0	$207,965	$212,908	
Total Revenues	$507,907	$513,080	$3	$513,083	$514,708	

Expenses						
Interest - 12/15	$105,875	$105,875	$0	$105,875	$104,300	
Principal - 12/15	$90,000	$90,000	$0	$90,000	$90,000	
Interest - 6/15	$104,300	$104,300	$0	$104,300	$102,725	
Total Expenditures	$300,175	$300,175	$0	$300,175	$297,025	
						
Excess Revenues/(Expenditures)	$207,732	$212,905	$3	$212,908	$217,683	
				
Principal - 12/15/2022	
$95,000	
				Interest - 12/15/2022	 	$102,725 	
				Total	 	$197,725 	
				
Net Assessment	
$301,800	
				Collection Cost (6%)	$19,264	
				Gross Assessment	$321,064	
						
		Property Type	Units	Gross Per Unit	Gross Total	
		Single Family 50'	79	$1,406	$111,074	
		Single Family 60'	97	$1,510	$146,470	
		Single Family 80'	37	$1,719	$63,603	
		Total	213		$321,147	
Stoneybrook South at ChampionsGate Community Development District Series 2017, Special Assessment Bonds
(Term Bonds Combined) Amortization Schedule

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

Stoneybrook South at ChampionsGate
Community Development District

	Fiscal Year 2022
Debt Service Fund					
	Series 2019					
	Adopted Budget
FY2021	Actual Thru
6/30/21	Projected Next 3
Months	Total Thru
9/30/21	Adopted Budget
FY2022	

Revenues						
Special Assessments	$899,894	$908,944	$0	$908,944	$899,894	
Interest Income	$250	$40	$10	$50	$0	
Carry Forward Surplus	$327,699	$332,155	$0	$332,155	$341,611	
Total Revenues	$1,227,843	$1,241,138	$10	$1,241,148	$1,241,505	

Expenses						
Interest - 12/15	$319,769	$319,769	$0	$319,769	$315,219	
Principal - 6/15	$260,000	$260,000	$0	$260,000	$270,000	
Interest - 6/15	$319,769	$319,769	$0	$319,769	$315,219	
Total Expenditures	$899,538	$899,538	$0	$899,538	$900,438	
						
Excess Revenues/(Expenditures)	$328,305	$341,601	$10	$341,611	$341,067	
				
Interest - 12/15/2022	
 	$310,494 	
				Total	 	$310,494 	
				
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
(Term Bonds Combined) Amortization Schedule

-    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
-    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

Stoneybrook South at ChampionsGate
Community Development District

	Fiscal Year 2022
Debt Service Fund					
	Series 2020					
	Proposed Budget
FY2021	Actual Thru
6/30/21	Projected Next 3
Months	Total Thru
9/30/21	Adopted Budget
FY2022	

Revenues						
Special Assessments - Tax Roll	$702,250	$702,250	$0	$702,250	$393,776	
Special Assessments - Direct Billed	$0	$0	$0	$0	$308,787	
Interest Income	$0	$15	$5	$20	$0	
Bond Proceeds	$351,125	$351,125	$0	$351,125	$0	
Carry Forward Surplus	$0	$0	$0	$0	$484,358	
Total Revenues	$1,053,375	$1,053,390	$5	$1,053,395	$1,186,921	

Expenses						
Interest - 12/15	$0	$0	$0	$0	$219,119	
Principal - 12/15	$0	$0	$0	$0	$265,000	
Interest - 6/15	$217,901	$217,901	$0	$217,901	$215,806	
Transfer Out	$0	$8	$3	$11	$0	
Total Expenditures	$217,901	$217,909	$3	$217,912	$699,925	
						
Excess Revenues/(Expenditures)	$835,474	$835,480	$3	$835,483	$486,996	
				
Principal - 12/15/2022	
$270,000	
				Interest - 12/15/2022	 	$215,806 	
				Total	 	$485,806 	
				
Net Assessment	
$702,564	
				Collection Cost (6%)	$44,844	
				Gross Assessment	$747,408	
						
		Property Type	Units	Gross Per Unit	Gross Total	
		Condo	120	$989	$118,680	
		Townhome	160	$1,094	$175,040	
		Single Family 40'	146	$1,302	$190,092	
		Single Family 50'	145	$1,406	$203,870	
		Single Family 60'	35	$1,510	$52,850	
		Single Family 80'	4	$1,719	$6,876	
		Total	610		$747,408	
Stoneybrook South at ChampionsGate
Series 2020, Special Assessment Bonds (Fox South Assessment Area) (Term Bonds Combined)

Amortization Schedule

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