Lucerne Park Community Development District Adopted Budget FY 2027 1-2 3-7 8 9 10 Capital Reserve Fund Series 2019 Amortization Schedule Table of Contents General Fund General Fund Narrative Series 2019 Debt Service Fund Adopted Actuals Projected Description BFuYd2g0e2t6 4/T3h0r/u26 5 MNoexntths P9r/oT3jhe0rc/ut2e6d AFBdYuo2dp0gt2eet7d IAORntsethsveeeersrens Ismuntceeosnmtse $$$ 4 16 ,, 621601776 $$$ 4 91 ,, 911346985 $$$ 58 ,, 00 054095 $$$ 4 14 76 ,, 922301970 $$$ 4 16 ,, 521000075 Total Revenues $ 447,990 $ 451,252 $ 13,104 $ 464,356 $ 447,812 Expenditures Administrative Supervisor Fees 12,000 $ 5,800 $ 4,800 $ 10,600 $ 12,000 $ FICA Expense 918 $ 444 $ 367 $ 811 $ 918 $ Engineering 10,000 $ 17,346 $ 5,500 $ 22,846 $ 12,000 $ Attorney 25,000 $ 14,393 $ 10,607 $ 25,000 $ 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 $ 3,155 $ 2,253 $ 5,408 $ 5,678 $ Trustee Fees 4,771 $ 2,478 $ 2,292 $ 4,771 $ 4,771 $ Management Fees 46,350 $ 27,038 $ 19,313 $ 46,350 $ 48,668 $ Information Technology 1,947 $ 1,136 $ 811 $ 1,947 $ 2,044 $ Website Administration 1,298 $ 757 $ 541 $ 1,298 $ 1,363 $ Postage & Delivery 900 $ 277 $ 300 $ 577 $ 900 $ Insurance 8,810 $ 7,029 $ - $ 7,029 $ 8,083 $ Copies 500 $ 51 $ 35 $ 86 $ 500 $ Legal Advertising 3,000 $ 1,776 $ 1,224 $ 3,000 $ 3,000 $ Contingency 1,000 $ 597 $ 325 $ 922 $ 1,000 $ Office Supplies 350 $ 4 $ 55 $ 59 $ 350 $ Dues, Licenses & Subscriptions 175 $ 175 $ - $ 175 $ 175 $ Total Administrative 132,283 $ 91,863 $ 48,873 $ 140,736 $ 136,678 $ Operations & Maintenance Field Services Property Insurance 13,224 $ 11,034 $ - $ 11,034 $ 13,524 $ Field Management 16,377 $ 9,553 $ 6,824 $ 16,377 $ 17,195 $ Landscape Maintenance 47,655 $ 23,803 $ 17,002 $ 40,805 $ 47,655 $ Landscape Contingency 6,500 $ 160 $ 3,250 $ 3,410 $ 15,000 $ Streetlights 39,172 $ 20,649 $ 14,898 $ 35,547 $ 39,172 $ Electric 2,000 $ 748 $ 425 $ 1,173 $ 2,000 $ Water & Sewer 3,500 $ 1,133 $ 1,100 $ 2,233 $ 3,500 $ Irrigation Repairs 6,000 $ 1,201 $ 4,799 $ 6,000 $ 6,000 $ General Repairs & Maintenance 12,000 $ 1,980 $ 5,000 $ 6,980 $ 12,000 $ Contingency 10,000 $ 5 $ 4,167 $ 4,172 $ 10,000 $ Subtotal Field Expenditures 156,428 $ 70,265 $ 57,465 $ 127,730 $ 166,046 $ Community Development District General Fund Lucerne Park 1 Adopted Actuals Projected Description BFuYd2g0e2t6 4/T3h0r/u26 5 MNoexntths P9r/oT3jhe0rc/ut2e6d AFBdYuo2dp0gt2eet7d Community Development District General Fund Lucerne Park Expenditures Amenity - Electric 10,100 $ 2,149 $ 2,000 $ 4,149 $ 10,100 $ Amenity - Water 10,000 $ 5,478 $ 4,167 $ 9,645 $ 12,500 $ Playground Lease 13,008 $ 11,382 $ 6,504 $ 17,886 $ - $ Internet 2,053 $ 1,353 $ 954 $ 2,307 $ 2,292 $ Pest Control 1,136 $ 560 $ 400 $ 960 $ 1,136 $ Janitorial Service 16,780 $ 9,240 $ 6,992 $ 16,232 $ 16,780 $ Security Services 35,000 $ 18,055 $ 22,569 $ 40,624 $ 35,000 $ Pool Maintenance 24,408 $ 14,179 $ 10,170 $ 24,349 $ 25,080 $ Amenity Repairs & Maintenance 10,000 $ 2,770 $ 4,167 $ 6,937 $ 12,500 $ Amenity Access Management 5,408 $ 3,155 $ 2,253 $ 5,408 $ 10,000 $ Chair Lift Replacement 12,000 $ - $ - $ - $ - $ Contingency 12,000 $ 1,000 $ 5,000 $ 6,000 $ 12,000 $ Reserve Study - $ - $ - $ - $ 6,000 $ Subtotal Amenity Expenditures 151,893 $ 69,321 $ 65,175 $ 134,497 $ 143,388 $ Total Operations & Maintenance 308,321 $ 139,587 $ 122,640 $ 262,227 $ 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 $ 231,450 $ 178,899 $ 410,349 $ 447,812 $ Excess Revenues/(Expenditures) - $ 219,802 $ (165,795) $ 54,007 $ - $ 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 2 Lucerne Park Community Development District GENERAL FUND BUDGET 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. 3 Lucerne Park Community Development District GENERAL FUND BUDGET 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. 4 Lucerne Park Community Development District GENERAL FUND BUDGET 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 streetlights 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. 5 Lucerne Park Community Development District GENERAL FUND BUDGET 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. 6 Lucerne Park Community Development District GENERAL FUND BUDGET 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. 7 Adopted Actuals Projected Description BFuY2d0ge2t6 4/T3h0r/u26 5 MNeoxntths P9r/To3jhe0rc/ut2e6d AFBdYuo2dp0gt2ee7dt ICARnsaetsrveerersynes Fsmutoe eIrsnnwctasormde Surplus * $$$ 24 141290,,,591128455 $$$ 24 14 459,,,678165157 $$$ 47 ,, 07 -0508 $$$ 24 141596,,,568125147 $$$ 24 16 298,,,554292488 Total Revenues $ 672,624 $ 670,233 $ 11,758 $ 681,992 $ 690,550 Expenses IIPnnrttineerrceeipssatt l-- -15 5/1/11 $$$ 111344225,,,011099077 $$$ 1 4 2 , 1 --97 $$$ 11 34 25 ,, 01 -0907 $$$ 111344225,,,011099077 $$$ 111334099,,,044099077 Total Expenditures $ 419,394 $ 142,197 $ 277,197 $ 419,394 $ 418,994 Excess Revenues/(Expenditures) $ 253,230 $ 528,036 $ (265,438) $ 262,598 $ 271,556 * Carryforward Less Reserve Requirement Interest - 11/1/2027 $136,697 Total $136,697 Product Type Assessable Units Total Net Assessments Per Unit Net Assessment Per Unit Gross Assessment Phase 1 - Phase 3 334466 $$441199,,552244 $1,212 $1,304 Series 2019 Lucerne Park Community Development District Debt Service Fund 8 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 $ 9 Adopted Actuals Projected Description BFuY2d0ge2t6 4/T3h0r/u26 5 MNeoxntths P9r/To3jhe0rc/ut2e6d AFBdYuo2dp0gt2ee7dt ICRnaetrvereryne Fsutoe Irsnwcaormde Surplus $$ 8 61,,457391 $$ 8 61,,564739 $$ 8 -40 $$ 8 62,,554139 $$ 9 61,,424579 Total Revenues $ 88,010 $ 88,222 $ 840 $ 89,062 $ 97,707 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 $ 88,222 $ 8,225 $ 96,447 $ 99,406 Lucerne Park Community Development District Capital Reserve Fund 10