Peace Creek
Community Development District

Proposed Budget
FY2025

Table of Contents

1-2

3-6

7-8

General Fund

General Fund Narrative

Debt Service Fund - Series 2023

9	Capital Reserve Fund

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2024	3/31/24	6 Months	9/30/24	FY2025	

Revenues						
Assessments - On Roll	$	412,182	$	413,636	$	-	$	413,636	$	571,619	
Assessments - Direct	$	22,650	$	16,988	$	5,663	$	22,650	$	23,458	
Developer Contributions	$	-	$	36,879	$	-	$	36,879	$	-	
Total Revenues	$	434,833	$	467,502	$	5,663	$	473,165	$	595,076	

Expenditures						
General & Administrative						
Supervisor Fees	$	12,000	$	3,200	$	6,000	$	9,200	$	12,000	
FICA Expense	$	918	$	245	$	459	$	704	$	918	
Engineering	$	15,000	$	2,625	$	3,500	$	6,125	$	15,000	
Attorney	$	25,000	$	9,070	$	9,070	$	18,140	$	25,000	
Annual Audit	$	3,900	$	4,900	$	-	$	4,900	$	5,000	
Assessment Administration	$	5,000	$	5,000	$	-	$	5,000	$	5,250	
Arbitrage	$	450	$	-	$	450	$	450	$	450	
Dissemination	$	5,000	$	2,500	$	2,500	$	5,000	$	5,250	
Trustee Fees	$	4,020	$	-	$	4,041	$	4,041	$	4,020	
Management Fees	$	37,100	$	18,550	$	18,550	$	37,100	$	42,500	
Information Technology	$	1,800	$	900	$	900	$	1,800	$	1,890	
Website Maintenance	$	1,200	$	600	$	600	$	1,200	$	1,260	
Telephone	$	300	$	-	$	50	$	50	$	-	
Postage & Delivery	$	750	$	450	$	236	$	686	$	750	
Insurance	$	5,750	$	5,200	$	-	$	5,200	$	5,720	
Copies	$	750	$	10	$	35	$	45	$	750	
Legal Advertising	$	5,000	$	903	$	3,038	$	3,941	$	2,500	
Contingency	$	2,293	$	251	$	318	$	569	$	2,500	
Office Supplies	$	625	$	9	$	25	$	34	$	625	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total General & Administrative:	$	127,031	$	54,587	$	49,772	$	104,359	$	131,558	

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2024	3/31/24	6 Months	9/30/24	FY2025	

Operations & Maintenance						
Field Expenses:						
Property Insurance	$	12,000	$	2,833	$	-	$	2,833	$	15,000	
Field Management	$	15,000	$	3,750	$	3,750	$	7,500	$	17,250	
Landscape Maintenance	$	95,000	$	32,004	$	43,182	$	75,186	$	99,540	
Landscape Replacement	$	12,500	$	-	$	6,250	$	6,250	$	15,000	
Streetlights	$	33,770	$	-	$	16,885	$	16,885	$	33,770	
Electric	$	7,260	$	-	$	3,630	$	3,630	$	7,260	
Water & Sewer	$	3,000	$	20,735	$	24,265	$	45,000	$	50,000	
Sidewalk & Asphalt Maintenance	$	2,500	$	-	$	1,250	$	1,250	$	2,500	
Irrigation Repairs	$	5,500	$	515	$	1,500	$	2,015	$	10,000	
General Repairs & Maintenance	$	10,000	$	744	$	1,500	$	2,244	$	10,000	
Contingency	$	5,500	$	15	$	100	$	115	$	7,500	
Total Field Expenditures:	$	202,030	$	60,596	$	102,312	$	162,907	$	267,820	

Amenity Expenses:						
Amenity - Insurance	$	5,000	$	-	$	-	$	-	$	-	
Amenity - Electric	$	13,794	$	1,167	$	12,627	$	13,794	$	15,863	
Amenity - Water	$	5,000	$	-	$	2,500	$	2,500	$	12,000	
Internet	$	2,000	$	207	$	900	$	1,107	$	2,000	
Pest Control	$	528	$	140	$	360	$	500	$	735	
Janitorial Service	$	10,200	$	775	$	4,650	$	5,425	$	9,300	
Security Services	$	30,000	$	8,546	$	8,568	$	17,114	$	34,000	
Pool Maintenance	$	16,500	$	1,400	$	8,400	$	9,800	$	16,800	
Amenity Repairs & Maintenance	$	10,000	$	3,076	$	3,500	$	6,576	$	10,000	
Amenity Access Management	$	5,250	$	-	$	2,625	$	2,625	$	12,500	
Contingency	$	7,500	$	-	$	3,750	$	3,750	$	7,500	
Total Amenity Expenditures:	$	105,772	$	15,312	$	47,880	$	63,192	$	120,698	
						
Total Operations & Maintenance:	$	307,802	$	75,908	$	150,191	$	226,099	$	388,518	

Other Financing Sources and Uses						
Capital Reserves - Transfer	$	-	$	-	$	-	$	-	$	75,000	
Total Other Expenditures	$	-	$	-	$	-	$	-	$	75,000	
						
Total Expenditures	$	434,833	$	130,495	$	199,963	$	330,458	$	595,076	
						
Excess Revenues/(Expenditures)	$	-	$	337,007	$	(194,301)	$	142,706	$	-	
						
Product	ERU's	Assessable Units	ERU/Unit	Net Assessment	Net Per Unit	Gross Per Unit	

Platted - Single Family	553.00	
553	
1.00	
$571,619	
$1,033.67	
$1,111.47	
Unplatted	22.80	120	0.19	$23,458	$195.48	$210.19	
Total ERU's	576	673		$595,076			
						
FY 2025 Gross Per
Product	Unit	FY 2024 Gross Per Unit	
Increase/(Decrease)				
Platted - Single Family	$1,111.47	$	801.46	$	310.01				
Unplatted	$210.19	$	202.96	$	7.23				

Revenues:

Assessments

The District will levy a non-ad valorem assessment on all assessable property within the District to fund all general operating and maintenance expenditures during the fiscal year.

Expenditures:

General & Administrative:

Supervisor Fees

Chapter 190, Florida Statutes, allows for each Board member to receive $200 per meeting, not to exceed
$4,800 per year paid to each Supervisor for the time devoted to District business and meetings.

Engineering

The District's engineer will be providing general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review invoices and various projects as directed by the Board of Supervisors and the District Manager.

Attorney

The District's legal counsel will be providing general legal services to the District, e.g. attendance and preparation for meetings, preparation and review of agreements, resolutions, etc. as directed by the Board of Supervisors and the District Manager.

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis.

Assessment Administration

The District will contract to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on an anticipated bond issuance.

Dissemination

The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(5) which relates to additional reporting requirements for unrated bond issues. This cost is based upon an anticipated bond issuance.

Trustee Fees

The District will incur trustee related costs with the issuance of its’ issued bonds.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-Central Florida, LLC. The services include but are not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reports, annual audits, etc.

Information Technology

Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, positive pay implementation and programming for fraud protection, accounting software, tablets for meetings, Adobe, Microsoft Office, etc.

Website Maintenance

Represents the costs associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc. – Governmental Management, CFL

Postage & Delivery

The District incurs charges for mailing of Board meeting agenda packages, overnight deliveries, correspondence, etc.

Insurance

The District’s general liability and public official’s liability insurance coverages.

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 incurred during the year.

Office Supplies

Any supplies that may need to be purchased during the fiscal year, e.g., paper, minute books, file folders, labels, paper clips, etc.

Travel Per Diem

The Board of Supervisors can be reimbursed for travel expenditures related to the conducting of District business.

Dues, Licenses & Subscriptions

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

Operations & Maintenance: Field Services
Property Insurance

The District’s property insurance coverages.

Field Management

The District has contracted with Governmental Management Services – Central Florida, LLC to provide onsite field management of contracts for the District such as landscape maintenance. Services can include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Landscape Maintenance

The District has a contract with Prince & Sons, Inc. to maintain the landscaping located within the District. These services include monthly landscape maintenance such as mowing of turf areas, pruning and trimming, plant bed weed control, fertilization and irrigation inspections.

Landscape Replacement

Represents the estimated cost of replacing landscaping within the common areas of the District.

Streetlights

Represents the cost to maintain street lights within the District Boundaries that are expected to be in place throughout the fiscal year.

Electric

Represents current and estimated electric charges of common areas throughout the District.

Water & Sewer

Represents current and estimated costs for water and refuse services provided for common areas throughout the District.

Sidewalk & Asphalt Maintenance

Represents the estimated costs of maintaining the sidewalks and asphalt throughout the District’s Boundary.

Irrigation Repairs

Represents the cost of maintaining and repairing the irrigation system. This includes the sprinklers, and irrigation wells.

General Repairs & Maintenance

Represents estimated costs for general repairs and maintenance of the District’s common areas.

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any field category.

Amenity Expenditures:

Amenity - Electric

Represents estimated electric charges for the District’s amenity facilities.

Amenity – Water

Represents estimated water charges for the District’s amenity facilities.

Internet

Internet service will be added for use at the Amenity Center.

Pest Control

The District will incur costs for pest control treatments to its amenity facilities.

Janitorial Services

Represents estimated costs to provide janitorial services and supplies for the District’s amenity facilities.

Security Services

Represents the estimated cost of contracting a monthly security service for the District’s amenity facilities.

Pool Maintenance

Represents estimated costs of regular cleaning and treatments of the District’s pool.

Amenity Repairs & Maintenance

Represents estimated costs for repairs and maintenance of the District’s amenity facilities.

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any amenity category.

Other Expenditures:

Capital Reserves

Funds collected and reserved for the replacement of and/or purchase of new capital improvements throughout the District.

Product	
Assessable Units	Maximum Annual Debt Service	Net Assessment Per Unit	Gross Assessment Per Unit	
Single Family - 40	313	$	453,829	$	1,449.93	$	1,559.07	
Single Family - 50	240	$	347,984	$	1,449.93	$	1,559.07	
	553	$	801,813			

Peace Creek
Community Development District Proposed Budget
Debt Service Fund Series 2023

		Proposed
Budget	Actuals
Thru	Projected
Next	Projected
Thru	Proposed
Budget	
	Description	FY2024	3/31/24	6 Months	9/30/24	FY2025	

Revenues							

Special Assessments	
$	801,813	
$	804,640	
$	-	
$	804,640	
$	801,813	
Special Assessments - Direct Bill	$	-	$	310,559	$	-	$	310,559	$	-	
Interest Income	$	-	$	15,781	$	7,890	$	23,671	$	5,000	
Carry Forward Surplus *	$	312,471	$	725	$	-	$	725	$	328,686	
Total Revenues	$	1,114,284	$	1,131,704	$	7,890	$	1,139,595	$	1,135,499	

Expenses Series 2023 Interest - 12/15	

$	310,559	

$	310,559	

$	-	

$	310,559	

$	306,734	
Principal - 06/15	$	180,000	$	-	$	180,000	$	180,000	$	190,000	
Interest - 06/15	$	310,559	$	-	$	310,559	$	310,559	$	306,734	
Total Expenditures	$	801,119	$	310,559	$	490,559	$	801,119	$	803,469	

Other Financing Sources/(Uses)						
Transfer In (Out)	$	-	$	(9,790)	$	-	$	(9,790)	$	-	
Total Other Financing Sources/(Uses)	$	-	$	(9,790)	$	-	$	(9,790)	$	-	
						
Excess Revenues/(Expenditures)	$	313,165	$	811,355	$	(482,669)	$	328,686	$	332,030	

*Carry forward less amount in Reserve funds.				

Series 2023		
				Interest - 12/15		$302,697		
				Total	$302,697	

Series 2023						

Peace Creek
Community Development District Series 2023 Special Assessment Bonds
AMORTIZATION SCHEDULE

DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL

12/15/24	$	11,885,000.00	$	
06/15/25	$	11,885,000.00	$	190	
12/15/25	$	11,695,000.00	$	
06/15/26	$	11,695,000.00	$	200	
12/15/26	$	11,495,000.00	$	
06/15/27	$	11,495,000.00	$	205	
12/15/27	$	11,290,000.00	$	
06/15/28	$	11,290,000.00	$	215	
12/15/28	$	11,075,000.00	$	
06/15/29	$	11,075,000.00	$	225	
12/15/29	$	10,850,000.00	$	
06/15/30	$	10,850,000.00	$	235	
12/15/30	$	10,615,000.00	$	
06/15/31	$	10,615,000.00	$	245	
12/15/31	$	10,370,000.00	$	
06/15/32	$	10,370,000.00	$	260	
12/15/32	$	10,110,000.00	$	
06/15/33	$	10,110,000.00	$	275	
12/15/33	$	9,835,000.00	$	
06/15/34	$	9,835,000.00	$	285	
12/15/34	$	10,110,000.00	$	
06/15/35	$	9,835,000.00	$	300	
12/15/35	$	9,835,000.00	$	
06/15/36	$	9,550,000.00	$	320	
12/15/36	$	9,550,000.00	$	
06/15/37	$	9,250,000.00	$	335	
12/15/37	$	9,250,000.00	$	
06/15/38	$	8,930,000.00	$	350	
12/15/38	$	8,930,000.00	$	
06/15/39	$	8,595,000.00	$	370	
12/15/39	$	8,595,000.00	$	
06/15/40	$	8,245,000.00	$	390	
12/15/40	$	8,245,000.00	$	
06/15/41	$	7,875,000.00	$	410	
12/15/41	$	7,875,000.00	$	
06/15/42	$	6,190,000.00	$	430	
12/15/42	$	6,190,000.00	$	
06/15/43	$	6,190,000.00	$	455	
12/15/43	$	6,190,000.00	$	
06/15/44	$	6,190,000.00	$	480	
12/15/44	$	5,710,000.00	$	
06/15/45	$	5,710,000.00	$	505	
12/15/45	$	5,205,000.00	$	
06/15/46	$	5,205,000.00	$	535	
12/15/46	$	4,670,000.00	$	
06/15/47	$	4,670,000.00	$	565	
12/15/47	$	4,105,000.00	$	
06/15/48	$	4,105,000.00	$	595	
12/15/48	$	3,510,000.00	$	
06/15/49	$	3,510,000.00	$	630	
12/15/49	$	2,880,000.00	$	
06/15/50	$	2,880,000.00	$	660	
12/15/50	$	2,220,000.00	$	
06/15/51	$	2,220,000.00	$	700	
12/15/51	$	1,520,000.00	$	
06/15/52	$	1,520,000.00	$	740	
12/15/52	$	780,000.00	$	
06/15/53	$	780,000.00	$	780	

$	306,734.38	$	797,293.75	
$	306,734.38	$	-	
$	302,696.88	$	799,431.25	
$	302,696.88	$	-	
$	298,446.88	$	801,143.75	
$	298,446.88	$	-	
$	294,090.63	$	797,537.50	
$	294,090.63	$	-	
$	289,521.88	$	798,612.50	
$	289,521.88	$	-	
$	284,740.63	$	799,262.50	
$	284,740.63	$	-	
$	279,746.88	$	799,487.50	
$	279,746.88	$	-	
$	273,468.75	$	798,215.63	
$	273,468.75	$	-	
$	266,806.25	$	800,275.00	
$	266,806.25	$	-	
$	259,759.38	$	801,565.63	
$	259,759.38	$	-	
$	252,456.25	$	797,215.63	
$	252,456.25	$	-	
$	244,768.75	$	797,225.00	
$	244,768.75	$	-	
$	236,568.75	$	801,337.50	
$	236,568.75	$	-	
$	227,984.38	$	799,553.13	
$	227,984.38	$	-	
$	219,015.63	$	797,000.00	
$	219,015.63	$	-	
$	209,534.38	$	798,550.00	
$	209,534.38	$	-	
$	199,540.63	$	799,075.00	
$	199,540.63	$	-	
$	189,034.38	$	798,575.00	
$	189,034.38	$	-	
$	178,015.63	$	797,050.00	
$	178,015.63	$	-	
$	166,356.25	$	799,371.88	
$	166,356.25	$	-	
$	153,456.25	$	799,812.50	
$	153,456.25	$	-	
$	139,884.38	$	798,340.63	
$	139,884.38	$	-	
$	125,506.25	$	800,390.63	
$	125,506.25	$	-	
$	110,321.88	$	800,828.13	
$	110,321.88	$	-	
$	94,331.25	$	799,653.13	
$	94,331.25	$	-	
$	77,400.00	$	801,731.25	
$	77,400.00	$	-	
$	59,662.50	$	797,062.50	
$	59,662.50	$	-	
$	40,850.00	$	800,512.50	
$	40,850.00	$	-	
$	20,962.50	$	801,812.50	
$	20,962.50	$	800,962.50	

-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00

$	12,065,000.00	$	12,322,787.55	$	24,387,787.55

Peace Creek
Community Development District
Proposed Budget Capital Reserve Fund

Proposed Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2023	3/31/24	6 Months	9/30/24	FY2025	

Revenues

Carry Forward Surplus	

$	-	$	-	$	-	$	-	$	-	
Total Revenues	$	-	$	-	$	-	$	-	$	-	

Expenditures		
Capital Outlay	$	-	$	-	$	-	$	-	$	-	
Total Expenditures	$	-	$	-	$	-	$	-	$	-	

Other Financing Sources/(Uses)
Transfer In/(Out)	

$	-	$	-	$	-	$	-	$	75,000	
Total Other Financing Sources/(Uses)	$	-	$	-	$	-	$	-	$	75,000	
		
Excess Revenues/(Expenditures)	$	-	$	-	$	-	$	-	$	75,000