Adopted Budget
Fiscal Year 2023

Pine Isle Community Development District

June 17, 2022

Pine Isle
Community Development District

General Fund

Adopted Budget
 	FY 2022	

Actual thru
    5/31/2022 

Projected Next
    4 Months	

Total Projected at
    9/30/2022 

Adopted Budget
 	FY 2023	

 Description	

Revenues

Developer Contributions/Assessments

$75,900

$44,543

$14,256

$58,799

$98,008

Total Revenues

 	$75,900 

 	$44,543 

 	$14,256 

 	$58,799 

 	$98,008 

Expenditures

Administrative

Engineering Fees Arbitrage Dissemination Agent Assessment Roll Attorney Fees Annual Audit Trustee Fees Management Fees Computer Time Postage
Printing & Binding Insurance
Legal Advertising Other Current Charges Website Compliance Office Supplies
Dues-Annual Fee DEO

$5,000
$1,200
$1,500
$2,000
$12,000
$5,000
$3,000
$24,000
$1,000
$800
$500
$5,000
$1,500
$1,000
$1,000
$280
$175

$638
$0
$0
$2,000
$9,074
$0
$0
$16,000
$667
$45
$271
$5,000
$367
$520
$667
$15
$175

$4,363
$0
$0
$0
$6,481
$3,200
$0
$8,000
$333
$22
$136
$0
$183
$260
$333
$50
$0

$5,000
$0
$0
$2,000
$15,555
$3,200
$0
$24,000
$1,000
$67
$407
$5,000
$550
$780
$1,000
$65
$175

$6,000
$1,500
$2,500
$2,000
$15,000
$3,400
$4,500
$28,000
$1,200
$800
$500
$6,500
$1,500
$1,000
$1,100
$280
$175

Total Administrative

 	$64,955 

 	$35,437 

 	$23,362 

 	$58,799 

 	$75,955 

Field
Repairs & Maintenance Vortech System Maintenance Vortech System Repairs Contingency

$0
$0
$0
$10,945

$0
$0
$0
$0

$0
$0
$0
$0

$0
$0
$0
$0

$11,155
$3,000
$4,800
$3,098

Total Field

 	$10,945 

 	$0 

 	$0 

 	$0 

 	$22,053 

Total Expenditures

 	$75,900 

 	$35,437 

 	$23,362 

 	$58,799 

 	$98,008 

Excess Revenues/Expenditures

 	$0 

 	$9,106 

 	($9,106)

 	$0 

 	$0 

Page 1

Gross Assessment Less: Disc & Coll (5%)
Net Assessment
# Units Per Unit Net Assessment Per Unit Gross Assessment

$103,165.92 ($5,158.30)

$98,007.62
594
$165.00
$173.68

Pine Isle
Community Development District
GENERAL FUND BUDGET

REVENUES:

Developer Contributions/Assessments

The District will levy a Non-Ad Valorem assessment on all the platted lots within the District to pay all of the operating expenses for the Fiscal Year in accordance with the adopted budget.

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.

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.

Arbitrage

The District is required to have an annual arbitrage rebate calculation on the District’s Bonds. The District will contract with an independent auditing firm to perform the calculations.

Assessment Roll

Represents cost associated with annually levying and collection Non-Ad Valorem Assessments utilized to fund the operating and debt service cost of the District.

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, etc.

Annual Audit

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

Trustee Fees

The District bonds will be held and administered by a Trustee. This represents the trustee annual fee.

Management Fees

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

Telephone

Telephone and fax machine

Page 2

Pine Isle
Community Development District
GENERAL FUND BUDGET

Administrative: (continued)

Postage

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

Insurance

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 based upon similar Community Development Districts.

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.

Website Administration

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-SF, LLC and updated monthly.

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 category for the District.

This is the only expense under

FIELD

Repairs & Maintenance

Repairs and maintenance within the District.

Vortech System Maintenance

Routine maintenance to the Vortech System.

Vortech System Repairs

Any necessary repairts to the Vortech System.

Contingency

Represents any un-budgeted expense.

Page 3

Pine Isle
Community Development District

Debt Service Fund
Series 2021 Special Assessment Bond

Adopted Budget
 	FY 2022	

Actual thru
    5/31/2022 

Projected Next
    4 Months	

Total Projected at
    9/30/2022 

Adopted Budget
 	FY 2023	

 Description	

Revenues

Direct Assessments Special Assessments Interest Income
Carry Forward Surplus (1)

$198,440
$0
$0
$0

$0
$0
$8
$0

$198,440
$0
$6
$0

$198,440
$0
$14
$0

$79,645
$576,065
$0
$285,148

Total Revenues

 	$198,440 

 	$8 

 	$198,446 

 	$198,455 

 	$940,858 

Expenditures

Series 2021 Interest 12/15 Principal 12/15 Interest 06/15

$0
$0
$198,440

$0
$0
$0

$0
$0
$198,440

$0
$0
$198,440

$176,828
$195,000
$174,513

Total Expenditures

 	$198,440 

 	$0 

 	$198,440 

 	$198,440 

 	$546,341 

Other Financing Sources/(Uses)

Bond Proceeds Interfund Transfer Out

$285,134
($4)

$285,134
($4)

$0 ($3)

$285,134
($7)

$0
$0

Total Other Financing Sources/(Us 	$285,134 

 	$285,134 

 	$0 

 	$285,134 

 	$0 

EXCESS REVENUES

 	$285,134 

$285,142

$6

$285,148

$394,518

(1) Carry forward is net of Reserve Fund requirement.

12/15/23 Interest 12/15/23 Principal

$

174,513

$	220,000

$

394,513

Page 4

Annual Net	Annual Gross*	Annual Gross*

Debt Assessment Debt Assessment Debt Assessment

Land Use	 No. of Units		 	Per Unit		 	Per Unit		Total

Main Site
Single Family	57	$	1,484.85	$	1,563.00
Townhome	188	$	1,284.40	$	1,352.00
Villa	 	211		$	1,184.65	$	1,247.00
Totals	456
Less: Discounts/Commissions (5%)

$	89,091.00
$	254,176.00
$	263,117.00
$	606,384.00
$	(30,319.20)

$	576,064.80

Pine Isle
Community Development District

Series 2021 Special Assessment Bond
Amortization  Schedule

PRINCIPAL
 	BALANCE	

 	DATE	

   RATE 

 	INTEREST	

 	PRINCIPAL	

 	TOTAL	

15-Jun-22
15-Dec-22
15-Jun-23
15-Dec-23
15-Jun-24
15-Dec-24
15-Jun-25
15-Dec-25
15-Jun-26
15-Dec-26
15-Jun-27
15-Dec-27
15-Jun-28
15-Dec-28
15-Jun-29
15-Dec-29
15-Jun-30
15-Dec-30
15-Jun-31
15-Dec-31
15-Jun-32
15-Dec-32
15-Jun-33
15-Dec-33
15-Jun-34
15-Dec-34
15-Jun-35
15-Dec-35
15-Jun-36
15-Dec-36
15-Jun-37
15-Dec-37
15-Jun-38
15-Dec-38
15-Jun-39
15-Dec-39
15-Jun-40
15-Dec-40
15-Jun-41
15-Dec-41
15-Jun-42
15-Dec-42
15-Jun-43
15-Dec-43
15-Jun-44
15-Dec-44
15-Jun-45
15-Dec-45
15-Jun-46
15-Dec-46
15-Jun-47
15-Dec-47
15-Jun-48
15-Dec-48
15-Jun-49
15-Dec-49
15-Jun-50
15-Dec-50
15-Jun-51
15-Dec-51

$10,215,000.00
$10,215,000.00
$10,020,000.00
$10,020,000.00
$9,800,000.00
$9,800,000.00
$9,575,000.00
$9,575,000.00
$9,345,000.00
$9,345,000.00
$9,110,000.00
$9,110,000.00
$8,870,000.00
$8,870,000.00
$8,620,000.00
$8,620,000.00
$8,365,000.00
$8,365,000.00
$8,100,000.00
$8,100,000.00
$7,830,000.00
$7,830,000.00
$7,550,000.00
$7,550,000.00
$7,260,000.00
$7,260,000.00
$6,965,000.00
$6,965,000.00
$6,660,000.00
$6,660,000.00
$6,345,000.00
$6,345,000.00
$6,020,000.00
$6,020,000.00
$5,685,000.00
$5,685,000.00
$5,335,000.00
$5,335,000.00
$4,975,000.00
$4,975,000.00
$4,605,000.00
$4,605,000.00
$4,220,000.00
$4,220,000.00
$3,820,000.00
$3,820,000.00
$3,405,000.00
$3,405,000.00
$2,975,000.00
$2,975,000.00
$2,525,000.00
$2,525,000.00
$2,060,000.00
$2,060,000.00
$1,575,000.00
$1,575,000.00
$1,070,000.00
$1,070,000.00
$545,000.00
$545,000.00

2.375%
2.375%
2.375%
2.375%
2.375%
2.375%
2.375%
2.375%
2.375%
2.375%
3.000%
3.000%
3.000%
3.000%
3.000%
3.000%
3.000%
3.000%
3.000%
3.000%
3.250%
3.250%
3.250%
3.250%
3.250%
3.250%
3.250%
3.250%
3.250%
3.250%
3.250%
3.250%
3.250%
3.250%
3.250%
3.250%
3.250%
3.250%
3.250%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
  4.000% 
    Total 

$198,440.45
$176,827.13
$174,512.50
$174,512.50
$171,900.00
$171,900.00
$169,228.13
$169,228.13
$166,496.88
$166,496.88
$163,706.25
$163,706.25
$160,106.25
$160,106.25
$156,356.25
$156,356.25
$152,531.25
$152,531.25
$148,556.25
$148,556.25
$144,506.25
$144,506.25
$139,956.25
$139,956.25
$135,243.75
$135,243.75
$130,450.00
$130,450.00
$125,493.75
$125,493.75
$120,375.00
$120,375.00
$115,093.75
$115,093.75
$109,650.00
$109,650.00
$103,962.50
$103,962.50
$98,112.50
$98,112.50
$92,100.00
$92,100.00
$84,400.00
$84,400.00
$76,400.00
$76,400.00
$68,100.00
$68,100.00
$59,500.00
$59,500.00
$50,500.00
$50,500.00
$41,200.00
$41,200.00
$31,500.00
$31,500.00
$21,400.00
$21,400.00
$10,900.00
 	$10,900.00
 	$6,819,742.60
Page 5

$0.00
$195,000.00
$0.00
$220,000.00
$0.00
$225,000.00
$0.00
$230,000.00
$0.00
$235,000.00
$0.00
$240,000.00
$0.00
$250,000.00
$0.00
$255,000.00
$0.00
$265,000.00
$0.00
$270,000.00
$0.00
$280,000.00
$0.00
$290,000.00
$0.00
$295,000.00
$0.00
$305,000.00
$0.00
$315,000.00
$0.00
$325,000.00
$0.00
$335,000.00
$0.00
$350,000.00
$0.00
$360,000.00
$0.00
$370,000.00
$0.00
$385,000.00
$0.00
$400,000.00
$0.00
$415,000.00
$0.00
$430,000.00
$0.00
$450,000.00
$0.00
$465,000.00
$0.00
$485,000.00
$0.00
$505,000.00
$0.00
$525,000.00
$0.00
 	$545,000.00
 	$10,215,000.00

$198,440.45

$546,339.63

$566,412.50

$566,128.13

$565,725.01

$565,203.13

$563,812.50

$566,462.50

$563,887.50

$566,087.50

$563,062.50

$564,462.50

$565,200.00

$560,693.75

$560,943.75

$560,868.75

$560,468.75

$559,743.75

$563,612.50

$562,075.00

$560,212.50

$561,500.00

$560,800.00

$559,500.00

$557,600.00

$560,000.00

$556,700.00

$557,700.00

$557,900.00

$557,300.00
 	$555,900.00
 	$17,034,742.60