Crossings
Community  Development  District

Proposed Budget
FY2024

Table of Contents

1-2

3-6

7

	General Fund

	General Fund Narrative

	Debt Service - Series 2022

8		Amortization Schedule

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2023	2/28/23	7 Months	9/30/23	FY2024	

Revenues						

Assessments - On Roll	
$	-	
$	-	
$	-	
$	-	
$	332,190	
Assessments - Direct	$	-	$	-	$	-	$	-	$	84,710	
Developer Contributions	$	438,900	$	25,000	$	231,491	$	256,491	$	-	
Total Revenues	$	438,900	$	25,000	$	231,491	$	256,491	$	416,900	

Expenditures						
General & Administrative
Supervisor Fees	
$	12,000	
$	1,600	
$	7,000	
$	8,600	
$	12,000	
Engineering	$	15,000	$	338	$	10,000	$	10,338	$	15,000	
Attorney	$	25,000	$	3,280	$	21,720	$	25,000	$	25,000	
Annual Audit	$	5,000	$	-	$	3,850	$	3,850	$	3,950	
Assessment Administration	$	5,000	$	-	$	-	$	-	$	5,000	
Arbitrage	$	450	$	-	$	450	$	450	$	450	
Dissemination	$	5,000	$	2,083	$	2,917	$	5,000	$	5,000	
Trustee Fees	$	3,600	$	-	$	4,100	$	4,100	$	4,100	
Management Fees	$	35,000	$	14,583	$	20,417	$	35,000	$	35,000	
Information Technology	$	1,800	$	750	$	1,050	$	1,800	$	1,800	
Website Maintenance	$	1,200	$	500	$	700	$	1,200	$	1,200	
Postage & Delivery	$	1,000	$	174	$	244	$	419	$	1,000	
Insurance	$	5,000	$	5,000	$	-	$	5,000	$	6,000	
Printing	$	1,000	$	1	$	250	$	251	$	1,000	
Legal Advertising	$	10,000	$	200	$	760	$	959	$	7,500	
Contingency	$	5,810	$	36	$	950	$	986	$	2,500	
Office Supplies	$	550	$	6	$	200	$	206	$	550	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total Administrative	$	132,585	$	28,726	$	74,607	$	103,333	$	127,225	

Operation and Maintenance						
Field Expenditures						
Property Insurance	$	7,500	$	-	$	3,750	$	3,750	$	15,000	
Field Management	$	7,500	$	-	$	3,750	$	3,750	$	15,000	
Landscape Maintenance	$	21,190	$	-	$	10,595	$	10,595	$	65,000	
Landscape Replacement & Enhancements	$	2,500	$	-	$	1,250	$	1,250	$	5,000	
Lake Maintenance	$	2,750	$	-	$	1,375	$	1,375	$	7,500	
Streetlights	$	42,000	$	-	$	21,000	$	21,000	$	50,000	
Electric	$	3,000	$	-	$	1,500	$	1,500	$	6,000	
Water & Sewer	$	2,500	$	-	$	1,250	$	1,250	$	5,000	
Sidewalk & Asphalt Maintenance	$	1,250	$	-	$	625	$	625	$	2,500	
Irrigation Repairs	$	2,500	$	-	$	1,250	$	1,250	$	5,000	
General Repairs & Maintenance	$	2,500	$	-	$	1,250	$	1,250	$	5,000	
Contingency	$	75,000	$	-	$	37,500	$	37,500	$	5,500	
Total Field Expenditures	$	170,190	$	-	$	85,095	$	85,095	$	186,500	

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description		FY2023	2/28/23	7 Months	9/30/23	FY2024	

Amenity Expenditures							
Amenity Access Management		$	2,500	$	-	$	1,250	$	1,250	$	5,000	
Amenity - Electric		$	7,200	$	-	$	3,600	$	3,600	$	14,400	
Amenity - Water		$	2,500	$	-	$	1,250	$	1,250	$	5,000	
Playground Lease		$	23,550	$	-	$	11,775	$	11,775	$	-	
Internet		$	1,500	$	-	$	750	$	750	$	3,000	
Pest Control		$	375	$	-	$	188	$	188	$	1,500	
Janitorial Services		$	3,250	$	-	$	1,625	$	1,625	$	10,200	
Security Services		$	7,500	$	-	$	3,750	$	3,750	$	25,000	
Pool Maintenance		$	9,000	$	-	$	4,500	$	4,500	$	22,200	
Amenity Repairs & Maintenance		$	3,750	$	-	$	1,875	$	1,875	$	7,500	
Holiday Décor		$	-	$	-	$	-	$	-	$	3,000	
Contingency		$	75,000	$	-	$	37,500	$	37,500	$	6,375	
Total Amenity Expenditures		$	136,125	$	-	$	68,063	$	68,063	$	103,175	
							
Total O&M Expenditures:		$	306,315	$	-	$	153,158	$	153,158	$	289,675	
							
Total Expenditures		$	438,900	$	28,726	$	227,765	$	256,491	$	416,900	
							
Excess Revenues/(Expenditures)		$	-	$	(3,726)	$	3,726	$	-	$	-	
							
Product	ERU's	Assessable Units	ERU/Unit	Net Assessment	Net Per Unit	Gross Per Unit	

Townhome - 22'	
108.00	
144	
0.75	
$123,542	
$857.93	
$912.69	
Bungalow - 32'	54.40	68	0.80	$62,228	$915.12	$973.54	
Single Family - 50'	128.00	128	1.00	$146,420	$1,143.90	$1,216.92	
Unplatted	74.05	274	0.27	$84,710	$309.16	$328.90	
Total ERU's	364.45	614		$416,900			

Revenues:

Assessments

The District will levy a non-ad valorem assessment on all assessable property within the District to fund all general operating and maintenance expenditures during the fiscal year.

Developer Contributions

The District will enter into a funding agreement with the Developer to fund the General Fund expenditures for the Fiscal Year.

Expenditures:

General & Administrative:

Supervisor 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.

Engineering

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

Attorney

The District's legal counsel will be providing general legal services to the District, e.g. attendance and preparation for meetings, preparation and review of agreements, resolutions, etc. as directed by the Board of Supervisors and the District Manager.

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis.

Assessment Administration

The District will contract to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Arbitrage Fees

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on its bonds and any other anticipated bond issuance.

Dissemination Fees

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. – Governmental Management, CFL

Trustee Fees

The District will pay annual trustee fees for the proposed bonds.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-Central Florida, LLC. 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 the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, positive pay implementation and programming for fraud protection, accounting software, tablets for meetings, Adobe, Microsoft Office, 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. – Governmental Management, CFL

Postage & Delivery

The District incurs charges for mailing of Board meeting agenda packages, overnight deliveries, correspondence, etc.

Insurance

The District’s general liability and public official’s liability insurance coverages.

Printing

Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes, etc.

Legal Advertising

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

Contingency

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

Office Supplies

Any supplies that may need to be purchased during the fiscal year, e.g., paper, minute books, file folders, labels, paper clips, etc.

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 Expenditures

Property Insurance

The District’s property insurance coverages.

Field Management

Represents the estimated costs of contracting services that provide onsite field management of contracts for the District such as landscape and lake maintenance. Services can include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Landscape Maintenance

Represents the estimated maintenance of the landscaping within the common areas of the District after the installation of landscape material has been completed.

Landscape Replacement & Enhancements

Represents the estimated cost of replacing landscaping within the common areas of the District.

Lake Maintenance

Represents the estimated maintenance of the lake within the common areas of the District.

Streetlights

Represents the cost to maintain street lights within the District Boundaries that are expected to be in place throughout the fiscal year.

Electric

Represents current and estimated electric charges of common areas throughout the District.

Water & Sewer

Represents current and estimated costs for water and refuse services provided for common areas throughout the District.

Sidewalk & Asphalt Maintenance

Represents the estimated costs of maintaining the sidewalks and asphalt throughout the District’s Boundary.

Irrigation Repairs

Represents the cost of maintaining and repairing the irrigation system. This includes the sprinklers, and irrigation wells.

General Repairs & Maintenance

Represents estimated costs for general repairs and maintenance of the District’s common areas.

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any field category.

Amenity Expenditures

Amenity Access Management

Represents the cost of managing and monitoring access to the District’s amenity facilities.

Amenity - Electric

Represents estimated electric charges for the District’s amenity facilities.

Amenity – Water

Represents estimated water charges for the District’s amenity facilities.

Internet

Internet service will be added for use at the Amenity Center.

Pest Control

The District will incur costs for pest control treatments to its amenity facilities.

Janitorial Services

Represents estimated costs to provide janitorial services and supplies for the District’s amenity facilities.

Security Services

Represents the estimated cost of contracting a monthly security service for the District’s amenity facilities.

Pool Maintenance

Represents estimated costs of regular cleaning and treatments of the District’s pool.

Amenity Repairs & Maintenance

Represents estimated costs for repairs and maintenance of the District’s amenity facilities.

Holiday Decor

Represents estimated costs for Holiday decoration

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any amenity category.

Crossings
Community Development District

Debt Service Fund Series 2022

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2023	2/28/23	7 Months	9/30/23	FY2024	

Revenues						

Carry Forward Surplus *	$	102,587	$	103,258	$	-	$	103,258	$	148,411	
Total Revenues	$	480,268	$	105,944	$	377,956	$	483,899	$	526,592	

Expenses						
Interest- 11/01	$	102,587	$	102,587	$	-	$	102,587	$	142,350	
Principal - 05/01	$	90,000	$	-	$	90,000	$	90,000	$	95,000	
Interest - 05/01	$	144,263	$	-	$	144,263	$	144,263	$	142,350	
Total Expenditures	$	336,849	$	102,587	$	234,263	$	336,850	$	379,700	

Other Financing Sources/(Uses)						
Transfer In/(Out)	$	-	$	1,362	$	-	$	1,362	$	-	
Total Other Financing Sources/(Uses)	$	-	$	1,362	$	-	$	1,362	$	-	
						
Excess Revenues/(Expenditures)	$	143,419	$	4,719	$	143,693	$	148,411	$	146,892	

*Carry forward less amount in Reserve funds.						
				Series 2022 Interest - 11/01/24	
$140,331	
Product *	Assessable Units	Net Assessment	Net Per Unit	Gross Per Unit		
Townhome - 22'	144	$100,768	$699.78	$744.44		
Bungalow - 32'	68	$84,973	$1,249.60	$1,329.36		
Single Family - 50'	128	$191,940	$1,499.53	$1,595.25		
Total ERU's	340	$377,681				

Assessments Interest Income

$	377,681

$	-	$	376,613	$	376,613	$	377,681	
$	2,686	$	1,343	$	4,029	$	500	

$	-

Crossings Community Development District Series 2022 Special Assessment Bonds
Amortization Schedule

Date	Balance	Prinicpal	Interest	Total

11/01/22	$	5,800,000.00	$	
05/01/23	$	5,800,000.00	$	90	
11/01/23	$	5,710,000.00	$	
05/01/24	$	5,710,000.00	$	95	
11/01/24	$	5,615,000.00	$	
05/01/25	$	5,615,000.00	$	95	
11/01/25	$	5,315,000.00	$	
05/01/26	$	5,315,000.00	$	100	
11/01/26	$	5,315,000.00	$	
05/01/27	$	5,315,000.00	$	105	
11/01/27	$	5,315,000.00	$	
05/01/28	$	5,315,000.00	$	110	
11/01/28	$	5,205,000.00	$	
05/01/29	$	5,205,000.00	$	115	
11/01/29	$	5,090,000.00	$	
05/01/30	$	5,090,000.00	$	120	
11/01/30	$	4,970,000.00	$	
05/01/31	$	4,970,000.00	$	125	
11/01/31	$	4,710,000.00	$	
05/01/32	$	4,710,000.00	$	135	
11/01/32	$	4,710,000.00	$	
05/01/33	$	4,710,000.00	$	140	
11/01/33	$	4,570,000.00	$	
05/01/34	$	4,570,000.00	$	145	
11/01/34	$	4,425,000.00	$	
05/01/35	$	4,425,000.00	$	155	
11/01/35	$	4,270,000.00	$	
05/01/36	$	4,270,000.00	$	160	
11/01/36	$	4,110,000.00	$	
05/01/37	$	4,110,000.00	$	170	
11/01/37	$	3,940,000.00	$	
05/01/38	$	3,940,000.00	$	180	
11/01/38	$	3,760,000.00	$	
05/01/39	$	3,760,000.00	$	190	
11/01/39	$	3,570,000.00	$	
05/01/40	$	3,570,000.00	$	200	
11/01/40	$	3,370,000.00	$	
05/01/41	$	3,370,000.00	$	210	
11/01/41	$	2,940,000.00	$	
05/01/42	$	2,940,000.00	$	220	
11/01/42	$	2,940,000.00	$	
05/01/43	$	2,940,000.00	$	230	
11/01/43	$	2,710,000.00	$	
05/01/44	$	2,710,000.00	$	240	
11/01/44	$	2,470,000.00	$	
05/01/45	$	2,470,000.00	$	255	
11/01/45	$	2,215,000.00	$	
05/01/46	$	2,215,000.00	$	270	
11/01/46	$	1,945,000.00	$	
05/01/47	$	1,945,000.00	$	285	
11/01/47	$	1,660,000.00	$	
05/01/48	$	1,660,000.00	$	300	
11/01/48	$	1,360,000.00	$	
05/01/49	$	1,360,000.00	$	315	
11/01/49	$	1,045,000.00	$	
05/01/50	$	1,045,000.00	$	330	
11/01/50	$	715,000.00	$	
05/01/51	$	715,000.00	$	350	
11/01/51	$	365,000.00	$	
05/01/52	$	365,000.00	$	365	
			
$	5,800	

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102,586.67  $
144,262.50
142,350.00  $
142,350.00
140,331.25  $
140,331.25
138,312.50  $
138,312.50
136,187.50  $
136,187.50
133,956.25  $
133,956.25
131,343.75  $
131,343.75
128,612.50  $
128,612.50
125,762.50  $
125,762.50
122,793.75  $
122,793.75
119,587.50  $
119,587.50
116,087.50  $
116,087.50
112,462.50  $
112,462.50
108,587.50  $
108,587.50
104,587.50  $
104,587.50
100,337.50  $
100,337.50
95,837.50  $
95,837.50
91,087.50  $
91,087.50
86,087.50  $
86,087.50
80,837.50  $
80,837.50
75,337.50  $
75,337.50
69,443.75  $
69,443.75
63,293.75  $
63,293.75
56,759.38  $
56,759.38
49,840.63  $
49,840.63
42,537.50  $
42,537.50
34,850.00  $
34,850.00
26,778.13  $
26,778.13  $
18,321.88  $
18,321.88  $
9,353.13  $
9,353.13  $

102,586.67

376,612.50

377,681.25

373,643.75

374,500.00

375,143.75

375,300.00

374,956.25

374,375.00

373,556.25

377,381.25

375,675.00

373,550.00

376,050.00

373,175.00

374,925.00

376,175.00

376,925.00

377,175.00

376,925.00

376,175.00

374,781.25

372,737.50

375,053.13

376,600.00

377,378.13

377,387.50

376,628.13
- 375,100.00
- 377,675.00
374,353.13

,000.00  $

5,570,180.42  $

11,370,180.42