Adopted Budget	
Fiscal Year 2021	

Creekside	
Community Development District	

August 4, 2020	

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	
	FY 2020	Actual		Projected		Total		FY 2021	
	Adopted	Thru		Next		Projected		Adopted	
 Description		 	Budget		  	6/30/2020 		    3 Months 		    9/30/2020 		 	Budget		

Revenues									
Assessments Tax Roll	$112,344	$51,113		$61,232		$112,344		$60,138	
Assessments Direct - DR Horton	$0	$20,968		$0		$20,968		$0	
 Total Revenues		 	$112,344  	 		$72,081 		 	$61,232 		 	$133,312 		 	$60,138 	
Expenditures									
Administrative									
Engineering Fees	$12,000	$4,153		$7,847		$12,000		$6,000	
Attorney Fees	$20,000	$43,052		$5,000		$48,052		$10,000	
Arbitrage	$1,200	$0		$600		$600		$1,200	
Dissemination	$2,500	$1,875		$625		$2,500		$2,500	
Trustee Fees	$3,500	$0		$3,500		$3,500		$3,500	
Annual Audit	$5,400	$4,600		$0		$4,600		$4,900	
Management Fees	$39,140	$29,355		$9,785		$39,140		$20,000	
Computer Time	$1,000	$750		$250		$1,000		$800	
Website Compliance	$1,000	$750		$250		$1,000		$1,000	
Telephone	$25	$2		$23		$25		$25	
Postage	$200	$207		$25		$232		$100	
Insurance	$6,356	$5,923		$0		$5,923		$6,356	
Printing & Binding	$250	$114		$136		$250		$250	
Legal Advertising	$1,200	$809		$391		$1,200		$1,200	
Other Current Charges	$350	$340		$113		$453		$484	
Property Taxes	$700	$1,378		$0		$1,378		$1,378	
Office Supplies	$30	$63		$20		$83		$70	
Dues, Licenses	$175	$175		$0		$175		$175	
Capital Outlay	$250	$0		$250		$250		$200	
First Quarter Operating	$17,068	$0		$10,951		$10,951		$0	
 Administrative Expenditures 	 	$112,344  	 		$93,546 		 	$39,766 		 	$133,312 		 	$60,138 	
 Unassigned Fund Balance		 	$0  	 		($21,465)		 	$21,466 		 	$0 		 	$0 	

(1) Assumes Collection of Assessments	
								
				FY 2019		FY 2020		FY2021	
	Net Assessments			$112,344		$112,344		$60,138	
	Plus Collections (8%)			 	$9,769 		 	$9,769 		$5,229	
	Gross Assessments			 	$122,113 		 	$122,113 		$65,368	
	No. of  ERU's			833		833		446	
	Gross Assessments Per ERU's		$147		$147		$147	

Page 1

Creekside
Community Development District	General Fund

REVENUES:

Maintenance Assessments
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 2020 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	
	FY 2020		FY 2021	
	Adopted		Adopted	
 Description		 	Budget		 	Budget	
Revenues				
Special Assessments - On Roll	$85,068		$215,473	
Special Assessments - Direct (DR Horton)	$69,118		$0	
(1)Special Assessments - Direct (Hoyer Homes)	$60,804		$0	
(1)(2)Special Assessments - Direct (BJK)	$187,536		$0	
 Total Revenues		 	$402,525 		 	$215,473 	
Expenditures				
Interest 11/1	$130,130		$119,080	
Principal 5/1	$135,000		$160,000	
Interest 5/1	$130,130		$119,080	
 Total Expenditures		 	$395,260 		 	$398,160 	
 Excess Revenues		 	$7,265 		 	($182,687)	
Interest Payment - 11/1/21		$114,920	
	Units		FY 2021	
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	
		PRINCIPAL									
 	DATE			 	BALANCE			   RATE 		 	INTEREST			 	PRINCIPAL			 	TOTAL		
1-Nov-14		$	5,370,000		5.200%		$	139,620.00		$	-			
1-May-15		$	5,370,000		5.200%		$	139,620.00		$	115,000.00		$	394,240.00	
1-Nov-15		$	5,255,000		5.200%		$	136,630.00		$	-			
1-May-16		$	5,255,000		5.200%		$	136,630.00		$	120,000.00		$	393,260.00	
1-Nov-16		$	5,135,000		5.200%		$	133,510.00		$	-			
1-May-17		$	5,135,000		5.200%		$	133,510.00		$	130,000.00		$	397,020.00	
1-Nov-17		$	5,005,000		5.200%		$	130,130.00		$	-			
1-May-18		$	5,005,000		5.200%		$	130,130.00		$	135,000.00		$	395,260.00	
1-Nov-18		$	4,870,000		5.200%		$	126,620.00		$	-			
1-May-19		$	4,870,000		5.200%		$	126,620.00		$	140,000.00		$	393,240.00	
1-Nov-19		$	4,730,000		5.200%		$	122,980.00		$	-			
1-May-20		$	4,730,000		5.200%		$	122,980.00		$	150,000.00		$	395,960.00	
1-Nov-20		$	4,580,000		5.200%		$	119,080.00		$	-			
1-May-21		$	4,580,000		5.200%		$	119,080.00		$	160,000.00		$	398,160.00	
1-Nov-21		$	4,420,000		5.200%		$	114,920.00		$	-			
1-May-22		$	4,420,000		5.200%		$	114,920.00		$	165,000.00		$	394,840.00	
1-Nov-22		$	4,255,000		5.200%		$	110,630.00		$	-			
1-May-23		$	4,255,000		5.200%		$	110,630.00		$	175,000.00		$	396,260.00	
1-Nov-23		$	4,080,000		5.200%		$	106,080.00		$	-			
1-May-24		$	4,080,000		5.200%		$	106,080.00		$	185,000.00		$	397,160.00	
1-Nov-24		$	3,895,000		5.200%		$	101,270.00		$	-			
1-May-25		$	3,895,000		5.200%		$	101,270.00		$	195,000.00		$	397,540.00	
1-Nov-25		$	3,700,000		5.200%		$	96,200.00		$	-			
1-May-26		$	3,700,000		5.200%		$	96,200.00		$	205,000.00		$	397,400.00	
1-Nov-26		$	3,495,000		5.200%		$	90,870.00		$	-			
1-May-27		$	3,495,000		5.200%		$	90,870.00		$	215,000.00		$	396,740.00	
1-Nov-27		$	3,280,000		5.200%		$	85,280.00		$	-			
1-May-28		$	3,280,000		5.200%		$	85,280.00		$	225,000.00		$	395,560.00	
1-Nov-28		$	3,055,000		5.200%		$	79,430.00		$	-			
1-May-29		$	3,055,000		5.200%		$	79,430.00		$	240,000.00		$	398,860.00	
1-Nov-29		$	2,815,000		5.200%		$	73,190.00		$	-			
1-May-30		$	2,815,000		5.200%		$	73,190.00		$	250,000.00		$	396,380.00	
1-Nov-30		$	2,565,000		5.200%		$	66,690.00		$	-			
1-May-31		$	2,565,000		5.200%		$	66,690.00		$	265,000.00		$	398,380.00	
1-Nov-31		$	2,300,000		5.200%		$	59,800.00		$	-			
1-May-32		$	2,300,000		5.200%		$	59,800.00		$	280,000.00		$	399,600.00	
1-Nov-32		$	2,020,000		5.200%		$	52,520.00		$	-			
1-May-33		$	2,020,000		5.200%		$	52,520.00		$	295,000.00		$	400,040.00	
1-Nov-33		$	1,725,000		5.200%		$	44,850.00		$	-			
1-May-34		$	1,725,000		5.200%		$	44,850.00		$	310,000.00		$	399,700.00	
1-Nov-34		$	1,415,000		5.200%		$	36,790.00		$	-			
1-May-35		$	1,415,000		5.200%		$	36,790.00		$	325,000.00		$	398,580.00	
1-Nov-35		$	1,090,000		5.200%		$	28,340.00		$	-			
1-May-36		$	1,090,000		5.200%		$	28,340.00		$	345,000.00		$	401,680.00	
1-Nov-36		$	745,000		5.200%		$	19,370.00		$	-			
1-May-37		$	745,000		5.200%		$	19,370.00		$	365,000.00		$	403,740.00	
1-Nov-37		$	380,000		5.200%		$	9,880.00					
1-May-38		$	380,000		5.200%		$	9,880.00		$	380,000.00		$	399,760.00	
				    Total			  $	4,169,360.00 		  $	5,370,000.00 		  $	9,539,360.00