Lucerne Park
Community Development District

Proposed Budget
FY 2027

Table of Contents

1-2

3-7

8

9

General Fund

General Fund Narrative

Series 2019 Debt Service Fund

Series 2019 Amortization Schedule

10	Capital Reserve Fund

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2026	1/31/26	8 Months	9/30/26	FY2027	

Revenues						
Assessments	$	446,207  $	435,063	$	11,144	$	446,207	$	446,207	
Interest	$	1,667  $	5,199	$	8,000	$	13,199	$	1,500	
Other Income	$	116  $	105	$	105	$	210	$	105	
Total Revenues	$	447,990  $	440,367	$	19,249	$	459,616	$	447,812	

Expenditures						
Administrative
Supervisor Fees	

$	12,000  $	

2,800	

$	6,000	

$	8,800	

$	12,000	
FICA Expense	$	918  $	214	$	459	$	673	$	918	
Engineering	$	10,000  $	6,949	$	5,500	$	12,449	$	12,000	
Attorney	$	25,000  $	4,439	$	11,000	$	15,439	$	25,000	
Annual Audit	$	4,000  $	-	$	4,000	$	4,000	$	4,100	
Assessment Administration	$	5,408  $	5,408	$	-	$	5,408	$	5,678	
Arbitrage	$	450  $	-	$	450	$	450	$	450	
Dissemination	$	5,408  $	1,803	$	3,605	$	5,408	$	5,678	
Trustee Fees	$	4,771  $	2,478	$	2,292	$	4,771	$	4,771	
Management Fees	$	46,350  $	15,450	$	30,900	$	46,350	$	48,668	
Information Technology	$	1,947  $	649	$	1,298	$	1,947	$	2,044	
Website Administration	$	1,298  $	433	$	865	$	1,298	$	1,363	
Postage & Delivery	$	900  $	204	$	300	$	504	$	900	
Insurance	$	8,810  $	7,029	$	-	$	7,029	$	8,083	
Copies	$	500  $	44	$	35	$	79	$	500	
Legal Advertising	$	3,000  $	976	$	2,024	$	3,000	$	3,000	
Contingency	$	1,000  $	269	$	520	$	789	$	1,000	
Office Supplies	$	350  $	2	$	55	$	57	$	350	
Dues, Licenses & Subscriptions	$	175  $	175	$	-	$	175	$	175	
Total Administrative	$	132,283  $	49,322	$	69,304	$	118,626	$	136,678	

Operations & Maintenance
Field Services
Property Insurance	

$	13,224  $	

11,034	

$	-	

$	11,034	

$	13,524	
Field Management	$	16,377  $	5,459	$	10,918	$	16,377	$	17,195	
Landscape Maintenance	$	47,655  $	13,602	$	27,203	$	40,805	$	47,655	
Landscape Contingency	$	6,500  $	-	$	7,500	$	7,500	$	15,000	
Streetlights	$	39,172  $	11,797	$	23,837	$	35,634	$	39,172	
Electric	$	2,000  $	558	$	680	$	1,238	$	2,000	
Water & Sewer	$	3,500  $	807	$	1,760	$	2,567	$	3,500	
Irrigation Repairs	$	6,000  $	589	$	5,411	$	6,000	$	6,000	
General Repairs & Maintenance	$	12,000  $	1,100	$	8,000	$	9,100	$	12,000	
Contingency	$	10,000  $	5	$	6,667	$	6,672	$	10,000	
Subtotal Field Expenditures	$	156,428  $	44,950	$	91,977	$	136,927	$	166,046	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2026	1/31/26	8 Months	9/30/26	FY2027	
Amenity Expenditures						
Amenity - Electric	$	10,100	$	1,024	$	3,200	$	4,224	$	10,100	
Amenity - Water	$	10,000	$	4,625	$	6,667	$	11,291	$	12,500	
Playground Lease	$	13,008	$	6,504	$	6,504	$	13,008	$	-	
Internet	$	2,053	$	763	$	1,526	$	2,289	$	2,292	
Pest Control	$	1,136	$	320	$	640	$	960	$	1,136	
Janitorial Service	$	16,780	$	5,300	$	11,187	$	16,487	$	16,780	
Security Services	$	35,000	$	10,276	$	20,551	$	30,827	$	35,000	
Pool Maintenance	$	24,408	$	8,077	$	16,272	$	24,349	$	25,080	
Amenity Repairs & Maintenance	$	10,000	$	1,220	$	6,667	$	7,887	$	12,500	
Amenity Access Management	$	5,408	$	1,803	$	3,605	$	5,408	$	10,000	
Chair Lift Replacement	$	12,000	$	-	$	-	$	-	$	-	
Contingency	$	12,000	$	-	$	8,000	$	8,000	$	12,000	
Shade Structure	$	-	$	-	$	27,000	$	27,000	$	-	
Reserve Study	$	-	$	-	$	-	$	-	$	6,000	
Subtotal Amenity Expenditures	$	151,893	$	39,910	$	111,818	$	151,729	$	143,388	
						
Total Operations & Maintenance	$	308,321	$	84,860	$	203,795	$	288,655	$	309,434	

Other Expenditures						
Capital Reserves	$	7,386	$	-	$	7,386	$	7,386	$	1,700	
Total Other Expenditures	$	7,386	$	-	$	7,386	$	7,386	$	1,700	
						
Total Expenditures	$	447,990	$	134,182	$	280,484	$	414,667	$	447,812	
						
Excess Revenues/(Expenditures)	$	-	$	306,185	$	(261,236)	$	44,949	$	-	

Net Assessments	
$446,207	
Add: Discounts & Collections 7%		$33,585 	
Gross Assessments		$479,792 	
Assessable Units	346	
Per Unit Gross Assessment		$1,386.69 	
	
FY2024	
FY2025	
FY2026	
FY2027	
Net Assessments	$446,207	$446,207	$446,207	$446,207	
Discounts & Collections (7%)	$33,585	$33,585	$33,585	$33,585	
Gross Assessments	$479,792	$479,792	$479,792	$479,792	

Total Units	
346	
346	
346	
346	
Assessments per Unit	$1,387	$1,387	$1,387	$1,387	

REVENUES:
Assessments
The District will levy a non-ad valorem assessment on all the assessable property within the District in order to pay for operating expenditures during the fiscal year.
Interest Income
The District earns interest income on their operating accounts and other investments.
Other Income
The District will receive income from guest fees, including pool access cards.

EXPENDITURES:

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.
FICA Expense
Represents the Employer's share of Social Security and Medicare taxes withheld from Board of Supervisors checks.
Engineering
The District's engineer provides 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 provides 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 its Series 2019 bonds.
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 the Series 2019 bond series.
Trustee Fees
The District will incur trustee related costs with the issuance of its’ Series 2019 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 various cost of information technology for the District such as video conferencing, cloud storage and servers, positive pay implementation and programming for fraud protection, accounting software, tablets for meetings, Adobe, Microsoft Office, etc. Governmental Management Services-Central Florida, LLC provides this service.
Website Maintenance
Represents 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 Services-Central Florida, LLC provides this service.
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.

Copies
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.
Contingency
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.
Dues, Licenses & Subscriptions
The District is required to pay an annual fee to the Florida Department of Commerce 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 Contingency
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.
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 provided at the Amenity Center, with service furnished by Spectrum Business.
Pest Control
The District will incur costs for pest control services at its amenity facilities. Scheduled maintenance consists of monthly interior and exterior pest control treatments provided by Massey Services, Inc..

Janitorial Services
Represents the costs associated with janitorial services and related supplies for the District’s amenity facilities, provided by Clean Star Services of Central Florida.
Security Services
Represents the cost of monthly contracted security services for the District’s amenity facilities, provided by Securitas Security.
Pool Maintenance
Represents the costs associated with routine cleaning and maintenance of the District’s pool, provided by McDonnell Corporation DBA Resort.
Amenity Repairs & Maintenance
Represents estimated costs for repairs and maintenance of the District’s amenity facilities.
Amenity Access Management
Amenity Management provides access card issuance through registration, proof of residency, and photo identification. The team also provides keycard troubleshooting for issues and concerns related to access control. Staff reviews security concerns and amenity policy violations via remote camera monitoring on an as-needed basis. Districts are provided electronic communication for District news and direct remote customer service through phone and email directly to the Amenity Access Team.
Contingency
Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any amenity category.
Reserve Study
At the direction of the Board that recognizes the need for proper reserve planning, we have conducted a Reserve Study of Lucerne Park Community Development District.

Other Expenditures:

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

Lucerne Park
Community Development District
Debt Service Fund Series 2019

Description	Adopted Budget FY2026	Actuals Thru 1/31/26	Projected Next
8 Months	Projected Thru 9/30/26	Proposed Budget FY2027	

Revenues						
Assessments	$	419,524	$	409,045	$	10,479	$	419,524	$	419,524	
Interest Income	$	10,185	$	4,718	$	8,000	$	12,718	$	6,359	
Carry Forward Surplus *	$	242,915	$	245,611	$	-	$	245,611	$	258,459	
Total Revenues	$	672,624	$	659,374	$	18,479	$	677,853	$	684,342	
Expenses						
Interest - 11/1	$	142,197	$	142,197	$	-	$	142,197	$	139,497	
Principal - 5/1	$	135,000	$	-	$	135,000	$	135,000	$	140,000	
Interest - 5/1	$	142,197	$	-	$	142,197	$	142,197	$	139,497	
Total Expenditures	$	419,394	$	142,197	$	277,197	$	419,394	$	418,994	
						
Excess Revenues/(Expenditures)	$	253,230	$	517,177	$  (258,718)	$	258,459	$	265,348	

* Carryforward Less Reserve Requirement				
Interest - 11/1/2027	
	$136,697 	
				Total		$136,697 	

Product Type	
Assessable Units	Total Net Assessments	Per Unit Net Assessment	Per Unit Gross Assessment	
Phase 1 - Phase 3	346	$419,524	$1,212	$1,304	
	346	$419,524			

Lucerne Park Community Development District Series 2019 Special Assessment Bonds
Amortization Schedule

Date		Balance	Prinicpal	Interest	Total	

11/01/26	
$	
5,995,000.00	$	
-	$	
139,496.88	$	
416,693.75	
05/01/27	$	5,995,000.00	$	140,000.00	$	139,496.88		
11/01/27	$	5,855,000.00	$	-	$	136,696.88	$	416,193.75	
05/01/28	$	5,855,000.00	$	145,000.00	$	136,696.88		
11/01/28	$	5,710,000.00	$	-	$	133,796.88	$	415,493.75	
05/01/29	$	5,710,000.00	$	155,000.00	$	133,796.88		
11/01/29	$	5,555,000.00	$	-	$	130,696.88	$	419,493.75	
05/01/30	$	5,555,000.00	$	160,000.00	$	130,696.88		
11/01/30	$	5,395,000.00	$	-	$	126,996.88	$	417,693.75	
05/01/31	$	5,395,000.00	$	165,000.00	$	126,996.88		
11/01/31	$	5,230,000.00	$	-	$	123,181.25	$	415,178.13	
05/01/32	$	5,230,000.00	$	175,000.00	$	123,181.25		
11/01/32	$	5,055,000.00	$	-	$	119,134.38	$	417,315.63	
05/01/33	$	5,055,000.00	$	185,000.00	$	119,134.38		
11/01/33	$	4,870,000.00	$	-	$	114,856.25	$	418,990.63	
05/01/34	$	4,870,000.00	$	190,000.00	$	114,856.25		
11/01/34	$	4,680,000.00	$	-	$	110,462.50	$	415,318.75	
05/01/35	$	4,680,000.00	$	200,000.00	$	110,462.50		
11/01/35	$	4,480,000.00	$	-	$	105,837.50	$	416,300.00	
05/01/36	$	4,480,000.00	$	210,000.00	$	105,837.50		
11/01/36	$	4,270,000.00	$	-	$	100,981.25	$	416,818.75	
05/01/37	$	4,270,000.00	$	220,000.00	$	100,981.25		
11/01/37	$	4,050,000.00	$	-	$	95,893.75	$	416,875.00	
05/01/38	$	4,050,000.00	$	230,000.00	$	95,893.75		
11/01/38	$	3,820,000.00	$	-	$	90,575.00	$	416,468.75	
05/01/39	$	3,820,000.00	$	240,000.00	$	90,575.00		
11/01/39	$	3,580,000.00	$	-	$	85,025.00	$	415,600.00	
05/01/40	$	3,580,000.00	$	255,000.00	$	85,025.00		
11/01/40	$	3,325,000.00	$	-	$	78,968.75	$	418,993.75	
05/01/41	$	3,325,000.00	$	265,000.00	$	78,968.75		
11/01/41	$	3,060,000.00	$	-	$	72,675.00	$	416,643.75	
05/01/42	$	3,060,000.00	$	280,000.00	$	72,675.00		
11/01/42	$	2,780,000.00	$	-	$	66,025.00	$	418,700.00	
05/01/43	$	2,780,000.00	$	295,000.00	$	66,025.00		
11/01/43	$	2,485,000.00	$	-	$	59,018.75	$	420,043.75	
05/01/44	$	2,485,000.00	$	305,000.00	$	59,018.75		
11/01/44	$	2,180,000.00	$	-	$	51,775.00	$	415,793.75	
05/01/45	$	2,180,000.00	$	320,000.00	$	51,775.00		
11/01/45	$	1,860,000.00	$	-	$	44,175.00	$	415,950.00	
05/01/46	$	1,860,000.00	$	335,000.00	$	44,175.00		
11/01/46	$	1,525,000.00	$	-	$	36,218.75	$	415,393.75	
05/01/47	$	1,525,000.00	$	355,000.00	$	36,218.75		
11/01/47	$	1,170,000.00	$	-	$	27,787.50	$	419,006.25	
05/01/48	$	1,170,000.00	$	370,000.00	$	27,787.50		
11/01/48	$	800,000.00	$	-	$	19,000.00	$	416,787.50	
05/01/49	$	800,000.00	$	390,000.00	$	19,000.00		
11/01/49	$	410,000.00	$	-	$	9,737.50	$	418,737.50	
05/01/50	$	410,000.00	$	410,000.00	$	9,737.50	$	419,737.50	
		$	5,995,000.00  $	4,158,025.00  $	10,430,221.88	

Lucerne Park
Community Development District
Capital Reserve Fund

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2026	1/31/26	8 Months	9/30/26	FY2027	

Revenues						
Interest Income	$	1,531	$	984	$	1,967	$	2,951	$	1,475	
Carry Forward Surplus	$	86,479	$	86,543	$	-	$	86,543	$	96,879	
Total Revenues	$	88,010	$	87,526	$	1,967	$	89,494	$	98,354	

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

Other Financing Sources						
Transfer In (Out)	$	7,386	$	-	$	7,386	$	7,386	$	1,700	
Total Other Financing Sources/(Uses)	$	7,386	$	-	$	7,386	$	7,386	$	1,700	
						
Excess Revenues/(Expenditures)	$	95,396	$	87,526	$	9,353	$	96,879	$	100,054