Adopted Budget	
Fiscal Year 2023	

Creekside	
Community Development District	

October 5, 2022

Creekside	
Community Development District	

TABLE OF CONTENTS

General Fund	
Budget	
Narrative	

Page 1	
Page 2-3	

Debt Service Fund	
Series 2006	
Budget	
Amortization Schedule - 2006	

Page 4	
Page 5	

Creekside	
Community Development District	

General Fund

Adopted	
Budget	
	FY2022		

Actual	
Thru	
  8/31/2022 	

Projected	
Next	
  1 Months 	

Total	
Projected	
  9/30/2022 	

Adopted	
Budget	
	FY2023		

 Description	

Revenues	
Special Assessments - On Roll	

$60,138	$56,046	$4,092	$60,138	$60,138

Total Revenues		$60,138 		$56,046 		$4,092 		$60,138 		$60,138 

Expenditures

Administrative	
Engineering Fees	
Arbitrage	
Dissemination	
Attorney Fees	
Annual Audit	
Trustee Fees	
Management Fees	
Computer Time	
Website Compliance	
Telephone	
Postage	
Insurance	
Printing & Binding	
Legal Advertising	
Other Current Charges	
Property Taxes	
Office Supplies	
Dues, Licenses	
Capital Outlay	
Appraisal	

$6,000	
$1,200	
$2,500	
$10,000	
$4,900	
$3,500	
$20,000	
$800	
$1,000	
$25	
$100	
$6,356	
$250	
$1,200	
$484	
$1,378	
$70	
$175	
$200	
$0	

$1,415	
$600	
$2,292	
$10,712	
$4,000	
$0	
$18,333	
$733	
$917	
$0	
$85	
$6,437	
$177	
$356	
$916	
$0	
$33	
$175	
$0	
$2,991	

$2,000	
$0	
$208	
$2,142	
$0	
$0	
$1,667	
$67	
$83	
$25	
$50	
$0	
$73	
$642	
$225	
$0	
$25	
$0	
$200	
$0	

$3,415	
$600	
$2,500	
$12,854	
$4,000	
$0	
$20,000	
$800	
$1,000	
$25	
$135	
$6,437	
$250	
$998	
$1,141	
$0	
$58	
$175	
$200	
$2,991	

$5,000	
$600	
$2,625	
$10,000	
$4,100	
$3,500	
$21,000	
$800	
$1,260	
$25	
$100	
$7,255	
$250	
$1,000	
$1,000	
$1,378	
$70	
$175	
$0	
$0	

Administrative Expenditures		$60,138 			$50,171 			$7,407 			$57,578 			$60,138 	
Unassigned Fund Balance		$0 			$5,875 			($3,315)			$2,560 			$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 1

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	
	FY2022	

Adopted	
Budget	
	FY2023	

Revenues	
Special Assessments - On Roll	

 Description	

$215,473	$215,473

Total Revenues		$215,473 		$215,473 

Expenditures

Interest 11/1	
Principal 5/1	
Interest 5/1	

$114,920	
$165,000	
$114,920	

$110,630	
$175,000	
$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	30	000	$0.26	

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

Creekside	
Community Development District	

 	
Series 2006, Special Assessment Bonds	
Amortization Schedule	

PRINCIPAL	
	BALANCE		

	DATE		 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