Bradbury
Community Development District

Proposed Budget
FY2025

Table of Contents

1-2

3-7

8

9

General Fund

General Fund Narrative

Debt Serivce Fund - Series 2023

Series 2023 Amortization Schedule

Adopted
Budget	Actuals
Thru	Projected
Next	Projected
Thru	Proposed
Budget	
Description	FY2024	3/31/24	6 Months	9/30/24	FY2025	

Revenues

Assesssments - Lot Closing Assesssments - Tax Roll	$	459,495
$	-	$	459,496
$	-	$	-
$	-	$	459,496
$	-	$	-
$	724,290	
Total Revenues	$	459,495	$	459,496	$	-	$	459,496	$	724,290	

Expenditures						
Administrative
Supervisor Fees	

$	12,000	

$	-	

$	3,000	

$	3,000	

$	12,000	
Engineering	$	15,000	$	-	$	4,000	$	4,000	$	15,000	
Attorney	$	25,000	$	1,563	$	3,000	$	4,563	$	25,000	
Annual Audit	$	4,000	$	5,800	$	-	$	5,800	$	4,000	
Assessment Administration	$	5,000	$	-	$	-	$	-	$	5,000	
Arbitrage	$	450	$	-	$	-	$	-	$	450	
Dissemination	$	5,000	$	2,500	$	2,500	$	5,000	$	5,250	
Trustee Fees	$	4,020	$	-	$	-	$	-	$	4,020	
Management Fees	$	37,500	$	18,750	$	18,750	$	37,500	$	39,375	
Information Technology	$	1,800	$	900	$	900	$	1,800	$	1,890	
Website Maintenance	$	1,200	$	600	$	600	$	1,200	$	1,260	
Postage & Delivery	$	600	$	167	$	288	$	455	$	600	
Insurance	$	5,750	$	5,200	$	-	$	5,200	$	5,720	
Copies	$	500	$	-	$	200	$	200	$	500	
Legal Advertising	$	15,000	$	-	$	5,000	$	5,000	$	15,000	
Other Current Charges	$	1,000	$	243	$	300	$	543	$	1,000	
Office Supplies	$	500	$	3	$	60	$	63	$	500	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total Administrative	$	134,495	$	35,901	$	38,598	$	74,499	$	136,740	

Field Expenditures
Property Insurance	

$	-	

$	-	

$	-	

$	-	

$	12,000	
Field Management	$	-	$	-	$	-	$	-	$	15,000	
Landscape Maintenance	$	-	$	-	$	-	$	-	$	130,000	
Landscape Replacement	$	-	$	-	$	-	$	-	$	20,000	
Streetlights	$	-	$	-	$	-	$	-	$	35,000	
Electric	$	-	$	244	$	600	$	-	$	12,000	
Water & Sewer	$	-	$	-	$	-	$	-	$	25,000	
Sidewalk & Asphalt Maintenance	$	-	$	-	$	-	$	-	$	2,500	
Irrigation Repairs	$	-	$	-	$	-	$	-	$	6,000	
General Repairs & Maintenance	$	-	$	-	$	-	$	-	$	15,000	
Field Contingency	$	250,000	$	-	$	-	$	-	$	10,000	
Total Field Expenditures	$	250,000	$	244	$	600	$	-	$	282,500	

	Adopted
Budget	Actuals
Thru	Projected
Next	Projected
Thru	Proposed
Budget	
Description	FY2024	3/31/24	6 Months	9/30/24	FY2025	

Amenity Expenditures						
Amenity - Electric	$	-	$	-	$	-	$	-	$	10,000	
Amenity - Water	$	-	$	-	$	-	$	-	$	15,000	
Playground Lease	$	75,000	$	-	$	37,500	$	-	$	50,000	
Internet	$	-	$	-	$	-	$	-	$	2,500	
Pest Control	$	-	$	-	$	-	$	-	$	1,250	
Janitorial Service	$	-	$	-	$	-	$	-	$	15,000	
Amenity Management	$	-	$	-	$	-	$	-	$	12,500	
Security Services	$	-	$	-	$	-	$	-	$	34,000	
Pool Maintenance	$	-	$	-	$	-	$	-	$	19,800	
Amenity Repairs & Maintenance	$	-	$	-	$	-	$	-	$	10,000	
Contingency	$	-	$	-	$	-	$	-	$	10,000	
Total Amenity Expenditures	$	75,000	$	-	$	37,500	$	-	$	180,050	
						
Total Operations & Maintenance	$	325,000	$	244	$	38,100	$	-	$	462,550	
						
Subtotal Expenditures	$	459,495	$	36,146	$	76,698	$	74,499  $	599,290	

Other Expenditures						
Capital Reserves	$	-	$	-	$	-	$	-	$	125,000	
Total Expenditures	$	459,495	$	36,146	$	76,698	$	74,499	$	724,290	
											
Excess Revenues/(Expenditures)	$	-	$	423,351	$	(76,698)	$	384,997	$	-	

Net Assessments	$	724,290	
Add: Discounts & Collections 7%	 $	54,516 	
Gross Assessments	 $	778,806 	

Product	ERU's	Assessable Units	ERU/Unit	Net Assessment	Net Per Unit	Gross Per Unit	
Single Family	811.00	811	1.00	$724,290	$893.08	$960.30	
	811.00	811		$724,290			

Revenues:

Assessments

The District will levy a non-ad valorem assessment on all the assessable property within the District to pay for operating expenditures during 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, Dewberry Engineers Inc., provides 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, Kilinski I Wyk, PLLC, provides 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

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

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. This cost is based upon an anticipated bond issuance.

Trustee Fees

The District will incur trustee related costs with the issuance of its’ issued 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 various cost of information technology for the District such as video conferencing, cloud storage and servers, positive pay implementation and programming for fraud protection, accounting software, tablets for meetings, Adobe, Microsoft Office, etc. Governmental Management Services-Central Florida, LLC, provides these services.

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.

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.

Copies

Printing agenda items 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.

Other Current Charges

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 coverage is provided by the Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Field Management

Represents the 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. Governmental Management Services-Central Florida, LLC, provides these services.

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

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

Streetlights

Represents the cost to maintain streetlights 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.

General Repairs & Maintenance

Represents estimated costs for general repairs and maintenance of the District’s common areas. These can include pressure washing, and repairs to fences, monuments, lighting, and other assets.

Field 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 - Electric

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

Amenity – Water

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

Playground Lease

The District will enter into a leasing agreement for playground installed in the community.

Internet

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

Pest Control

Represents estimated cost for pest control treatments to its amenity facilities.

Janitorial Services

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

Amenity Management

Amenity Management provides access card issuance through registration, proof of residency, and photo identification. The team also provides keycard troubleshooting for issues and concerns related to access control. Staff reviews security concerns and amenity policy violations via remote camera monitoring on an as-needed basis. Districts are provided electronic communication for District news and direct remote customer service through phone and email directly to the Amenity Access Team.

Security Services

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

Pool Maintenance

Represents the 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.

Contingency

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

Other Expenditures:

Capital Reserves

Funds collected and reserved for the replacement of and/or purchase of new capital improvements throughout the District.

Community Development District
Adopted Budget
Debt Service Fund - Series 2023

Proposed Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2024	3/31/24	6 Months	9/30/24	FY2025	

Revenues						
Assessments	$	1,338,050	$	1,338,053	$	-	$	1,338,053	$	1,338,050	
Interest	$	-	$	49,304	$	24,652	$	73,956	$	36,978	
Carry Forward Surplus	$	546,251	$	573,761	$	-	$	573,761	$	624,151	
Total Revenues	$ 1,884,301	$ 1,961,119	$	24,652	$ 1,985,771	$ 1,999,179	

Expenditures						
Interest - 11/1	$	542,158	$	542,158	$	-	$	542,158	$	518,216	
Principal - 5/1	$	295,000	$	-	$	295,000	$	295,000	$	305,000	
Interest - 5/1	$	524,669	$	-	$	524,669	$	524,669	$	518,216	
Total Expenditures	$ 1,361,826	$	542,158	$	819,669	$ 1,361,826	$ 1,341,431	

Other Financing Sources/(Uses)						
Transfer In	$	-	$	206	$	-	$	206	$	125,000	
Total Other Financing Sources/(Uses)	$	-	$	206	$	-	$	206	$	125,000	
						
Excess Revenues/(Expenditures)	$	522,475	$  1,419,167	$	(795,017)	$	624,151	$	782,747	
				
Interest - 11/1/25	
$	511,544	

Product	
Assessable Units	Maximum Annual Debt Service	Net Assessment Per Unit	Gross Assessment Per Unit	
Single Family 42'	476	$	785,341	$	1,650	$	1,774	
Single Family 52'	335	$	552,709	$	1,650	$	1,774	
	811	$	1,338,050			

Bradbury Community Development District Series 2023 Special Assessment Bonds
Amortization Schedule

Date	Balance	Prinicpal	Interest	Total

11/01/24	$	19,595,000.00	$	
05/01/25	$	19,595,000.00	$	305	
11/01/25	$	19,290,000.00	$	
05/01/26	$	19,290,000.00	$	320	
11/01/26	$	18,970,000.00	$	
05/01/27	$	18,970,000.00	$	335	
11/01/27	$	18,635,000.00	$	
05/01/28	$	18,635,000.00	$	350	
11/01/28	$	18,285,000.00	$	
05/01/29	$	18,285,000.00	$	365	
11/01/29	$	17,920,000.00	$	
05/01/30	$	17,920,000.00	$	380	
11/01/30	$	17,540,000.00	$	
05/01/31	$	17,540,000.00	$	400	
11/01/31	$	17,140,000.00	$	
05/01/32	$	17,140,000.00	$	420	
11/01/32	$	16,720,000.00	$	
05/01/33	$	16,720,000.00	$	445	
11/01/33	$	16,275,000.00	$	
05/01/34	$	16,275,000.00	$	470	
11/01/34	$	15,805,000.00	$	
05/01/35	$	15,805,000.00	$	495	
11/01/35	$	15,310,000.00	$	
05/01/36	$	15,310,000.00	$	520	
11/01/36	$	14,790,000.00	$	
05/01/37	$	14,790,000.00	$	550	
11/01/37	$	14,240,000.00	$	
05/01/38	$	14,240,000.00	$	580	
11/01/38	$	13,660,000.00	$	
05/01/39	$	13,660,000.00	$	610	
11/01/39	$	13,050,000.00	$	
05/01/40	$	13,050,000.00	$	640	
11/01/40	$	12,410,000.00	$	
05/01/41	$	12,410,000.00	$	675	
11/01/41	$	11,020,000.00	$	
05/01/42	$	10,270,000.00	$	715	
11/01/42	$	10,270,000.00	$	
05/01/43	$	10,270,000.00	$	750	
11/01/43	$	10,270,000.00	$	
05/01/44	$	10,270,000.00	$	790	
11/01/44	$	9,480,000.00	$	
05/01/45	$	9,480,000.00	$	835	
11/01/45	$	8,645,000.00	$	
05/01/46	$	8,645,000.00	$	885	
11/01/46	$	7,760,000.00	$	
05/01/47	$	7,760,000.00	$	935	
11/01/47	$	6,825,000.00	$	
05/01/48	$	6,825,000.00	$	985	
11/01/48	$	5,840,000.00	$	
05/01/49	$	5,840,000.00	$	1,045	
11/01/49	$	4,795,000.00	$	
05/01/50	$	4,795,000.00	$	1,100	
11/01/50	$	3,695,000.00	$	
05/01/51	$	3,695,000.00	$	1,165	
11/01/51	$	2,530,000.00	$	
05/01/52	$	2,530,000.00	$	1,230	
11/01/52	$	1,300,000.00	$	
05/01/53	$	1,300,000.00	$	1,300	

$	518,215.63	$	1,337,884.38	
$	518,215.63		
$	511,543.75	$	1,334,759.38	
$	511,543.75		
$	504,543.75	$	1,336,087.50	
$	504,543.75		
$	497,215.63	$	1,336,759.38	
$	497,215.63		
$	489,559.38	$	1,336,775.00	
$	489,559.38		
$	481,575.00	$	1,336,134.38	
$	481,575.00		
$	473,262.50	$	1,334,837.50	
$	473,262.50		
$	462,762.50	$	1,336,025.00	
$	462,762.50		
$	451,737.50	$	1,334,500.00	
$	451,737.50		
$	440,056.25	$	1,336,793.75	
$	440,056.25		
$	427,718.75	$	1,337,775.00	
$	427,718.75		
$	414,725.00	$	1,337,443.75	
$	414,725.00		
$	401,075.00	$	1,335,800.00	
$	401,075.00		
$	386,637.50	$	1,337,712.50	
$	386,637.50		
$	371,412.50	$	1,338,050.00	
$	371,412.50		
$	355,400.00	$	1,336,812.50	
$	355,400.00		
$	338,600.00	$	1,334,000.00	
$	338,600.00		
$	320,881.25	$	1,334,481.25	
$	320,881.25		
$	302,112.50	$	1,337,993.75	
$	302,112.50		
$	282,425.00	$	1,334,537.50	
$	282,425.00		
$	260,700.00	$	1,333,125.00	
$	260,700.00		
$	237,737.50	$	1,333,437.50	
$	237,737.50		
$	213,400.00	$	1,336,137.50	
$	213,400.00		
$	187,687.50	$	1,336,087.50	
$	187,687.50		
$	160,600.00	$	1,333,287.50	
$	160,600.00		
$	131,862.50	$	1,337,462.50	
$	131,862.50		
$	101,612.50	$	1,333,475.00	
$	101,612.50		
$	69,575.00	$	1,336,187.50	
$	69,575.00		
$	35,750.00	$	1,335,325.00	
$	35,750.00	$	1,335,750.00	

-
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$	19,595,000.00	$	20,727,595.21	$	40,617,595.21