Acree
Community Development District

Adopted Budget
FY2025

July 31, 2024

Table of Contents

1		General Fund

2-3		Narratives

Acree
Community Development District
Adopted Budget General Fund

	Adopted Budget	Actuals Thru	Projected Next Projected Thru	Adopted Budget	
Description	FY2024	6/30/24		3 Months		9/30/24	FY 2025	

REVENUES:						
Developer Contribution Interest Earned
Carry Forward Surplus	$125,893
-
-	$22,681
-
-	$28,994
-
-	$51,674
-
-	$131,643

-	
TOTAL REVENUES	$125,893	$22,681	$28,994	$51,674	$131,643	

EXPENDITURES:						
Administrative:						
Supervisor Fees	$12,000	$-	$-	$-	$12,000	
FICA Taxes	918	-	-	-	918	
Engineer	12,000	-	5,000	5,000	12,000	
Attorney	25,000	8,301	16,699	25,000	25,000	
Annual Audit	-	-	-	-	3,250	
Assessment Administration	5,000	-	-	-	7,500	
Arbitrage Rebate	-	-	-	-	-	
Trustee Fees	-	-	-	-	-	
Management Fees	45,000	6,750	2,250	9,000	45,000	
Dissemination Agent	7,500	-	-	-	7,500	
Information Technology	1,800	1,350	450	1,800	1,800	
Website Maintenance	1,200	900	300	1,200	1,200	
Telephone	500	10	10	20	500	
Postage & Delivery	1,500	24	476	500	1,500	
Insurance General Liability	5,500	5,000	-	5,000	5,500	
Printing & Binding	1,200	188	312	500	1,200	
Legal Advertising	5,000	632	2,500	3,132	5,000	
Other Current Charges	600	268	60	328	600	
Office Supplies	1,000	2	18	20	1,000	
Dues, Licenses & Subscriptions	175	175	-	175	175	
TOTAL ADMINISTRATIVE	$125,893	$23,599	$28,075	$51,674	$131,643	

Other Sources/(Uses)

Interfund Transfer In/(Out)	-	-	-	-	-

EXCESS REVENUES (EXPENDITURES)	$-	$(918)	$918	$-	$	-

TOTAL OTHER SOURCES/(USES)	$-	$-	$-	$-	$-

REVENUES

Developer Contribution
It is presently anticipated that the District will enter into a Funding Agreement with the Developer to fund General Fund Expenditures for the Fiscal Year.
Interest
The District earns interest on the monthly average collected balance for each of their investment accounts.

Expenditures - Administrative

Supervisors Fees
Chapter 190 of the Florida Statutes allows for members of the Board of Supervisors to be compensated $200 per meeting in which they attend.  The budgeted amount for the fiscal year is based on all supervisors attending 12 meetings.
FICA Taxes
Payroll taxes on Board of Supervisor’s compensation. The budgeted amount for the fiscal year is calculated at 7.65% of the total Board of Supervisor’s payroll expenditures.
Engineering
The District's engineer will provide general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review of invoices, and other specifically requested assignments.
Attorney
The District’s Attorney, will be providing general legal services to the District, i.e., attendance and preparation for monthly Board meetings, review of contracts, review of agreements and resolutions, and other research assigned as directed by the Board of Supervisors and the District Manager.
Annual Audit
The District is required to conduct an annual audit of its financial records by an Independent Certified Public Accounting Firm. The budgeted amount for the fiscal year is based on estimated cost.
Assessment Roll Administration
GMS, LLC provides assessment services for closing lot sales, assessment roll services with the local Tax Collector and financial advisory services.
Dissemination Agent
The District is required by the Security and Exchange Commission to comply with Rule 15(c)(2)-12(b)(5), which relates to additional reporting requirements for un-rated bond issues.
Trustee Fees
The District bonds will be held and administered by a Trustee. This represents the trustee annual fee.
District Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services, LLC. The budgeted amount for the fiscal year is based on the contracted fees outlined in Exhibit "A" of the Management Agreement.
Information Technology
The District processes all of its financial activities, i.e. accounts payable, financial statements, etc. on a main frame computer leased by Governmental Management Services, LLC.
Website Maintenance
Per Chapter 2014-22, Laws of Florida, all Districts must have a website to provide detailed information on the CDD as well as links to useful websites regarding Compliance issues. This website will be maintained by GMS, LLC and updated monthly.
Telephone
Internet, Phone and Wi-Fi service for Office.
Postage and Delivery
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.
Insurance General Liability
The District's General Liability & Public Officials Liability Insurance policy is with a qualified entity that specializes in providing insurance coverage to governmental agencies. The amount is an estimated premium.

Expenditures - Administrative (continued)

Printing and Binding
Copies used in the preparation of agenda packages, required mailings, and other special projects.
Legal Advertising
The District is required to advertise various notices for monthly Board meetings and other public hearings in a newspaper of general circulation.
Current Other Charges
This includes monthly bank charges and any other miscellaneous expenses that incur during the year.
Office Supplies
Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects.
Due, Licenses & Subscriptions
The District is required to pay an annual fee to the Florida Department of Commerce for $175.

Adopted Budget
Debt Service Series XXXX Special Assessment Bonds

Adopted Budget
FY2024

Actuals Thru	Projected Next	Projected Thru
6/30/24

Description

	3 Months	

9/30/24

Adopted Budget
FY 2025

REVENUES:

Special Assessments-On Roll Interest Earnings
Carry Forward Surplus (1)	$-
-
-	$-
-
-	$-
-
-	$-
-
-	$-
-
-	
TOTAL REVENUES	$-	$-	$-	$-	$-	

EXPENDITURES:						
Series 2020A1						
Interest 11/1	$-	$-	$-	$-	$-	
Interest 51	-	-	-	-	-	
Principal 5/1	-	-	-	-	-	
Prepayment 5/1	-					
Series 2020A2		-	-	-	-	
Interest 11/1	-	-	-	-	-	
Interest 51	-	-	-	-	-	
Principal 5/1	-					
Prepayment 5/1	-					
TOTAL EXPENDITURES	$-	$-	$-	$-	$-		

Other Sources/(Uses)						

Interfund transfer In/(Out)	
$-	
$-	
$-	
$-	
$-	
TOTAL OTHER SOURCES/(USES)	$-	$-	$-	$-	$-	
						
TOTAL EXPENDITURES	$-	$-	$-	$-	$-	
						
EXCESS REVENUES (EXPENDITURES)	$-	$-	$-	$-	$-	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/25	$-
Principal Due 5/1/26	$-

$-

AMORTIZATION SCHEDULE
Debt Service Series XXXX Special Assessment Bonds

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

	01/00/00	$-	0.000%		$-		$-		-	
	05/01/17	-	0.000%		-		-			
	11/01/17	-	0.000%		-		-		-	
	05/01/18	-	0.000%		-		-			
	11/01/18	-	0.000%		-		-		-	
	05/01/19	-	0.000%		-		-			
	11/01/19	-	0.000%		-		-		-	
	05/01/20	-	0.000%		-		-			
	11/01/20	-	0.000%		-		-		-	
	05/01/21	-	0.000%		-		-			
	11/01/21	-	0.000%		-		-		-	
	05/01/22	-	0.000%		-		-			
	11/01/22	-	0.000%		-		-		-	
	05/01/23	-	0.000%		-		-			
	11/01/23	-	0.000%		-		-		-	
	05/01/24	-	0.000%		-		-		-	
	11/01/24	-	0.000%		-		-		-	
	05/01/25	-	0.000%		-		-			
	11/01/25	-	0.000%		-		-		-	
	05/01/26	-	0.000%		-		-			
	11/01/26	-	0.000%		-		-		-	
	05/01/27	-	0.000%		-		-			
	11/01/27	-	0.000%		-		-		-	
	05/01/28	-	0.000%		-		-			
	11/01/28	-	0.000%		-		-		-	
	05/01/29	-	0.000%		-		-			
	11/01/29	-	0.000%		-		-		-	
	05/01/30	-	0.000%		-		-			
	11/01/30	-	0.000%		-		-		-	
	05/01/31	-	0.000%		-		-			
	11/01/31	-	0.000%		-		-		-	
	05/01/32	-	0.000%		-		-			
	11/01/32	-	0.000%		-		-		-	
	05/01/33	-	0.000%		-		-			
	11/01/33	-	0.000%		-		-		-	
	05/01/34	-	0.000%		-		-			
	11/01/34	-	0.000%		-		-		-	
	05/01/35	-	0.000%		-		-			
	11/01/35	-	0.000%		-		-		-	
	05/01/36	-	0.000%		-		-			
	11/01/36	-	0.000%		-		-		-	
	05/01/37	-	0.000%		-		-		-	
Total				$-		$-		$-		

Adopted Budget FY2024

Actuals Thru	Projected Next  Projected Thru
6/30/24

Description

	3 Months	

9/30/24

Adopted Budget FY 2025

REVENUES:

Interest Income
Capital Reserve-Transfer In	$-
-		$-
-		$-
-		-
-		$-
-	
Carry Forward Balance	-		-		-		-		-	
TOTAL REVENUES	$-		$-		$-		$-		$-		

EXPENDITURES:
Capital Outlay
Other Current Capital Outlay* Culture/Recreation
Repair and Maintenance**	

$-
-
-
-		

$-
-
-
-		

$-
-
-
-		

$-
-
-
-		

$-
-
-
-	
TOTAL EXPENDITURES	$-		$-		$-		$-		$-		

Other Sources/(Uses)										
Transfer in/(Out)		$-	$-		$-		$-		$-	
TOTAL OTHER SOURCES/(USES)	$-		$-	$-		$-		$-		
										
TOTAL EXPENDITURES	$-		$-	$-		$-		$-		
										
EXCESS REVENUES (EXPENDITURES)	$-		$-	$-		$-		$-		
			
Capital Reserve Study					
General		

Decsription

FY 2025-
Reserve Study

Reserves Beginning of Year	$0
Contributions	$0
Interest Income	$0
Expenditures	$0
Anticipated Balance	$0

Budget Fiscal Year 2024

Decsription

Budget	FY
2025

Reserves Beginning of Year Contributions
Interest Income

$

-
-
-

Adopted Budget FY2024

Actuals Thru	Projected Next  Projected Thru
6/30/24

Description

	3 Months	

9/30/24

Adopted Budget FY 2025

$	-

Anticipated Balance	$0

Expenditures

Variance Reserve Study Vs Actual	$0

Acree
Community Development District
Non-Ad Valorem Assessments Comparison 2024-2025

O&M	Bonds
Neighborhood	Units	20XX	Annual Maintenance Assessments
Units	
Annual Debt Assessments	
Total Assessed Per Unit	
	
FY 2025	
FY2024	Increase/ (decrease)	
FY 2025	
FY2024	Increase/ (decrease)	
FY 2025	
FY2024	Increase/ (decrease)	

0	

0	

$0.00	

$0.00	

$0.00	

$0.00	

$0.00	

$0.00	

$0.00	

$0.00	

$0.00	
	0	0	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	
	0	0	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	
	0	0	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	
Total	0	0