Approved Proposed Budget	
Fiscal Year 2023	

Creekside	
Community Development District	

May 18, 2022

Creekside
Community Development District

TABLE OF CONTENTS

General Fund
Budget	Page 1
Narrative	Page 2-3

Debt Service Fund
Series 2006
Budget	Page 4
Amortization Schedule - 2006	Page 5

Creekside
Community Development District	General Fund

Adopted
Budget		Actual
Thru		Projected
Next		Total
Projected	
Proposed
Budget	
 Description		 	FY2022			 	4/30/22			5 Months		9/30/22		FY2023	

Revenues										
Special Assessments - On Roll	$60,138		$55,156		$4,982		$60,138		$60,138	
Total Revenues	 	$60,138 		 	$55,156 		 	$4,982 		 	$60,138 		 	$60,138 	
Expenditures										
Administrative										
Engineering Fees	$6,000		$0		$2,000		$2,000		$5,000	
Arbitrage	$1,200		$0		$600		$600		$600	
Dissemination	$2,500		$1,458		$1,042		$2,500		$2,625	
Attorney Fees	$10,000		$6,722		$9,411		$16,133		$10,000	
Annual Audit	$4,900		$0		$4,000		$4,000		$4,100	
Trustee Fees	$3,500		$0		$0		$0		$3,500	
Management Fees	$20,000		$11,667		$8,333		$20,000		$21,000	
Computer Time	$800		$467		$333		$800		$800	
Website Compliance	$1,000		$583		$417		$1,000		$1,260	
Telephone	$25		$0		$25		$25		$25	
Postage	$100		$6		$50		$56		$100	
Insurance	$6,356		$6,437		$0		$6,437		$7,255	
Printing & Binding	$250		$70		$180		$250		$250	
Legal Advertising	$1,200		$356		$642		$998		$1,000	
Other Current Charges	$484		$241		$225		$466		$1,000	
Property Taxes	$1,378		$0		$0		$0		$1,378	
Office Supplies	$70		$15		$25		$40		$70	
Dues, Licenses	$175		$175		$0		$175		$175	
Capital Outlay	$200		$0		$200		$200		$0	
Appraisal	$0		$2,991		$0		$2,991		$0	
Administrative Expenditures	 	$60,138 		 	$31,187 		 	$27,483 		 	$58,670 		 	$60,138 	
Unassigned Fund Balance	 	$0 		 	$23,969 		 	($22,501) 		 	$1,468 		 	$0 	

FY 2021	FY2022	FY2023	
Net Assessments	$60,138	$60,138	$60,138	
Plus Collections (8%)	 	$5,229 	 	$5,229 	$5,229	
Gross Assessments	 	$65,368 	 	$65,368 	$65,368	
No. of ERU's	446	446	446	
Gross Assessments Per ERU's	$146.63	$146.63	$146.63	

Page 3

Creekside
Community Development District	General Fund

REVENUES:

Special Assessments-On Roll
The District will levy a Non-Ad Valorem assessment on all the platted lots within the District to fund all of the operating expenses for the Fiscal Year in accordance with the adopted budget. All unplatted parcels will be direct billed by the District.

EXPENDITURES:

Administrative:

Engineering Fees
The District's engineer will be providing general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review invoices, etc.

Attorney Fees
The District's legal counsel will be providing general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating & maintenance contracts, resolutions etc.

Arbitrage
The District is required to have an annual arbitrage rebate calculation prepared for the Series 2006 Special Assessment Bonds. The District will contract with an independent CPA firm to perform this calculation.

Dissemination Agent
The Annual Disclosure Report required is by the Security and Exchange Commission in order 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’s Series 2006, Special Assessment Bonds are held by the Trustee with US Bank.	The amount represents the fee for the administration of the District’s bond issue.

Annual Audit
The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm.

Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services, LLC.

Computer Time
The District processes all its financial activities, i.e. accounts payable, financial statements, etc. on a main frame computer leased by Governmental Management Services, LLC.

Website Compliance
Per Chapter 2014-22, Laws of Florida, all Districts must have a website by October 1, 2015 to provide detailed information on the CDD as well as links to useful websites regarding Compliance issues. This website will be maintained by GMS-SF, LLC and updated monthly.

Telephone
Telephone and fax machine.

Postage
Mailing of agenda packages, overnight deliveries, correspondence, etc.

Creekside
Community Development District	General Fund

Administrative: (continued)

Insurance
The District has bound General Liability & Public Officials Liability Insurance with a firm that specializes in providing insurance coverage to governmental agencies. The amount is based upon prior year’s policy.

Printing & Binding
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.

Other Current Charges
Bank charges and any other miscellaneous expenses that incurred during the year.

Property Taxes
Represents Calendar year 2021 Property Taxes.

Office Supplies
Miscellaneous office supplies.

Dues, Licenses & Subscriptions
The District is required to pay an annual fee to the Department of Economic Opportunity for $175. This is the only expense under this category for the District.

Capital Outlay
Represents any minor capital expenditures the District may need to make during the Fiscal Year such as a file cabinet for District files.

Creekside
Community Development District	Debt Service Fund Series 2006

	Adopted
Budget		Proposed
Budget	
 Description		 	FY2022 		 	FY2023 	
Revenues				
Special Assessments - On Roll	$215,473		$215,473	
Total Revenues	 	$215,473 		 	$215,473 	
Expenditures				
Interest 11/1	$114,920		$110,630	
Principal 5/1	$165,000		$175,000	
Interest 5/1	$114,920		$110,630	
Total Expenditures	 	$394,840 		 	$396,260 	
Excess Revenues	 	($179,367) 		 	($180,787) 	
	Interest Payment - 11/1/23		$106,080	

	Units	FY 2023	
Net Assessments	$215,472.63	
Plus Collections (8%)	$18,736.75	
Gross Assessments	$234,209.38	
Gross Per Unit Assessments-SF	305	$525.37	
Gross Per Unit Assessments-MF	148	$446.56	
Gross Per Unit Assessments-Commercial	30000	$0.26	

(1) The District has defaulted on their bonds
(2) These assessments have been accelerated and are subject to a foreclosure.

Creekside	Series 2006, Special Assessment Bonds
Community Development District	Amortization Schedule

 	DATE			PRINCIPAL
 	BALANCE			
     RATE			
 	INTEREST			
 	PRINCIPAL			
 	TOTAL		
1-Nov-14		$5,370,000.00		5.200%		$139,620.00		$0.00			
1-May-15		$5,370,000.00		5.200%		$139,620.00		$115,000.00		$394,240.00	
1-Nov-15		$5,255,000.00		5.200%		$136,630.00		$0.00			
1-May-16		$5,255,000.00		5.200%		$136,630.00		$120,000.00		$393,260.00	
1-Nov-16		$5,135,000.00		5.200%		$133,510.00		$0.00			
1-May-17		$5,135,000.00		5.200%		$133,510.00		$130,000.00		$397,020.00	
1-Nov-17		$5,005,000.00		5.200%		$130,130.00		$0.00			
1-May-18		$5,005,000.00		5.200%		$130,130.00		$135,000.00		$395,260.00	
1-Nov-18		$4,870,000.00		5.200%		$126,620.00		$0.00			
1-May-19		$4,870,000.00		5.200%		$126,620.00		$140,000.00		$393,240.00	
1-Nov-19		$4,730,000.00		5.200%		$122,980.00		$0.00			
1-May-20		$4,730,000.00		5.200%		$122,980.00		$150,000.00		$395,960.00	
1-Nov-20		$4,580,000.00		5.200%		$119,080.00		$0.00			
1-May-21		$4,580,000.00		5.200%		$119,080.00		$160,000.00		$398,160.00	
1-Nov-21		$4,420,000.00		5.200%		$114,920.00		$0.00			
1-May-22		$4,420,000.00		5.200%		$114,920.00		$165,000.00		$394,840.00	
1-Nov-22		$4,255,000.00		5.200%		$110,630.00		$0.00			
1-May-23		$4,255,000.00		5.200%		$110,630.00		$175,000.00		$396,260.00	
1-Nov-23		$4,080,000.00		5.200%		$106,080.00		$0.00			
1-May-24		$4,080,000.00		5.200%		$106,080.00		$185,000.00		$397,160.00	
1-Nov-24		$3,895,000.00		5.200%		$101,270.00		$0.00			
1-May-25		$3,895,000.00		5.200%		$101,270.00		$195,000.00		$397,540.00	
1-Nov-25		$3,700,000.00		5.200%		$96,200.00		$0.00			
1-May-26		$3,700,000.00		5.200%		$96,200.00		$205,000.00		$397,400.00	
1-Nov-26		$3,495,000.00		5.200%		$90,870.00		$0.00			
1-May-27		$3,495,000.00		5.200%		$90,870.00		$215,000.00		$396,740.00	
1-Nov-27		$3,280,000.00		5.200%		$85,280.00		$0.00			
1-May-28		$3,280,000.00		5.200%		$85,280.00		$225,000.00		$395,560.00	
1-Nov-28		$3,055,000.00		5.200%		$79,430.00		$0.00			
1-May-29		$3,055,000.00		5.200%		$79,430.00		$240,000.00		$398,860.00	
1-Nov-29		$2,815,000.00		5.200%		$73,190.00		$0.00			
1-May-30		$2,815,000.00		5.200%		$73,190.00		$250,000.00		$396,380.00	
1-Nov-30		$2,565,000.00		5.200%		$66,690.00		$0.00			
1-May-31		$2,565,000.00		5.200%		$66,690.00		$265,000.00		$398,380.00	
1-Nov-31		$2,300,000.00		5.200%		$59,800.00		$0.00			
1-May-32		$2,300,000.00		5.200%		$59,800.00		$280,000.00		$399,600.00	
1-Nov-32		$2,020,000.00		5.200%		$52,520.00		$0.00			
1-May-33		$2,020,000.00		5.200%		$52,520.00		$295,000.00		$400,040.00	
1-Nov-33		$1,725,000.00		5.200%		$44,850.00		$0.00			
1-May-34		$1,725,000.00		5.200%		$44,850.00		$310,000.00		$399,700.00	
1-Nov-34		$1,415,000.00		5.200%		$36,790.00		$0.00			
1-May-35		$1,415,000.00		5.200%		$36,790.00		$325,000.00		$398,580.00	
1-Nov-35		$1,090,000.00		5.200%		$28,340.00		$0.00			
1-May-36		$1,090,000.00		5.200%		$28,340.00		$345,000.00		$401,680.00	
1-Nov-36		$745,000.00		5.200%		$19,370.00		$0.00			
1-May-37		$745,000.00		5.200%		$19,370.00		$365,000.00		$403,740.00	
1-Nov-37		$380,000.00		5.200%		$9,880.00					
1-May-38		$380,000.00		5.200%		$9,880.00		$380,000.00		$399,760.00	
				 	Total			 	$4,169,360.00 		 	$5,370,000.00 		 	$9,539,360.00