Coconut Cay	
Community Development District	

Adopted Budget	
FY 2025	

Table Of Contents

1		General Fund	

2-3	
	Narratives	

4	
	Capital Reserve Fund 	

5	
	Debt Service Fund - Series 2006A	
6		Amortization Schedule	

7	
	Assessments	

Coconut Cay	
Community Development District	
Adopted Budget	
General Fund	

Adopted Budget	Actual Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY 2024	7/31/24	2 Months	9/30/24	FY 2025	

REVENUES:

Special Assessment	$108,600	$109,285	$-	$109,285	$108,602	
Interest Income	500	5,545	1,109	6,654	1,000	
Miscellaneous Income	-	26	-	26	-	
Unassigned Fund Balance	50,835	17,667	-	17,667	50,333	

TOTAL REVENUES	$159,935	$132,523	$1,109	$133,632	$159,935	

EXPENDITURES:

Administrative:						
Supervisor Fees	$6,000	$1,000	$1,000	$2,000	$6,000	
PR-FICA	459	77	77	153	459	
Engineering	6,500	642	1,083	1,726	6,500	
Attorney Fees	27,182	1,664	4,530	6,194	27,182	
Annual Audit	3,800	3,450	-	3,450	3,800	
Arbitrage Rebate	1,250	600	600	1,200	1,250	
Dissemination Agent	1,100	917	183	1,100	1,100	
Trustee Fees	4,100	4,089	-	4,089	4,100	
Management Fees	37,426	31,188	6,238	37,426	39,297	
Website Maintenance	1,000	833	167	1,000	1,000	
Telephone	50	-	25	25	50	
Postage & Delivery	850	232	142	374	850	
Printing & Binding	450	77	75	152	450	
Insurance General Liability	7,950	7,525	-	7,525	8,000	
Legal Advertising	1,100	1,474	-	1,474	1,100	
Other Current Charges	770	250	500	750	770	
Office Supplies	75	0	13	13	75	
Dues, Licenses & Subscriptions	175	175	-	175	175	
Monitoring Fee	5,430	-	5,430	5,430	-	

TOTAL ADMINISTRATIVE	$105,667	$54,193	$20,062	$74,255	$102,158	
Operations & Maintenance						

Field Maintenance						
Lake Maintenance	$2,340	$-	$390	$390	$2,340	
Drainage Maintenance	4,000	-	667	667	4,000	
Pump Maintenance	47,928	-	7,988	7,988	51,437	

TOTAL FIELD EXPENDITURES	$54,268	$-	$9,045	$9,045	$57,777	

TOTAL EXPENDITURES	$159,935	$54,193	$29,107	$83,300	$159,935	

EXCESS REVENUES (EXPENDITURES)	$-	$78,330	$(27,998)	$50,333	$-	

Coconut Cay	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

REVENUES	
Maintenance Assessments
The District will levy a Non-Ad Valorem assessment on all sold and platted parcels within the District in order to pay for the operating expenditures during the Fiscal Year.	
State Board Interest
The District earns interest on the monthly average collected balance for each of their State Board accounts	
Expenditures - Administrative	

Supervisors Fees
Chapter 190 of the Florida Statutes allows for members of the Board of Supervisors to be compensated
$200 per meeting in which they attend. The budgeted amount for the fiscal year is based on all supervisors attending 6 meetings.	
FICA Taxes
Payroll taxes on Board of Supervisor’s compensation. The budgeted amount for the fiscal year is calculated at 7.65% of the total Board of Supervisor’s payroll expenditures.	
Engineering Fees
The District's engineer will provide general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review of invoices, and other specifically requested	
Attorney
The District’s Attorney, will be providing general legal services to the District, i.e., attendance and preparation for monthly Board meetings, review of contracts, review of agreements and resolutions, and other research assigned as directed by the Board of Supervisors and the District Manager.	
Annual Audit
The District is required to conduct an annual audit of its financial records by an Independent Certified Public Accounting Firm. The budgeted amount for the fiscal year is based on contracted fees from the previous year engagement plus anticipated increase.	
Arbitrage Rebate
The District has contracted with its independent auditors to annually calculate the arbitrage rebate liability on its bonds.	
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.	
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. The budgeted amount for the fiscal year is based on the contracted fees outlined in Exhibit "A" of the Management Agreement.	
Website Maintenance
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.	
Communication - Telephone
New internet and Wi-Fi service for Office.	

Expenditures - Administrative (continued)	

Postage and Delivery
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.	
Insurance General Liability
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 and Binding
Copies used in the preparation of agenda packages, required mailings, and other special projects.	
Legal Advertising
The District is required to advertise various notices for monthly Board meetings and other public hearings in a newspaper of general circulation.	
Other Current Charges
This includes monthly bank charges and any other miscellaneous expenses that incur during the year.	
Office Supplies
Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects.	
Due, Licenses & Subscriptions
The District is required to pay an annual fee to the Florida Department of Commerce for $175.	

Expenditures – Field	
Lake Maintenance
Monthly water management services to all the lakes throughout the District.	
Drainage Maintenance	
District will hire an on-site person to handle weekly inspections, logging and maintenance of the storm drain
system.	
Pump Maintenance	
Routine maintenance and preventative services provided by Hoover throughout the District.	

Coconut Cay	
Community Development District	
Adopted Budget	
Capital Reserve Fund	

Adopted Budget	Actual Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY 2024	7/31/24	2 Months	9/30/24	FY 2025	

REVENUES:						
Capital Reserve Contribution	$846,000	$634,500	$211,500	$846,000	$418,000	
Interest Income	-	6,261	-	6,261	-	

TOTAL REVENUES	$846,000	$640,761	$211,500	$852,261	$418,000	

EXPENDITURES:

Field Services	$12,000	$10,000	$2,000	$12,000	$12,000	
Capital Outlay	764,400	-	704,507	704,507	364,400	
Engineering Fees	40,000	54,862	10,972	65,834	-	
Operating Supplies	6,500	-	1,083	1,083	6,000	
Other Current Charges/Bank	600	-	100	100	600	
Pump Maintenance	20,000	56,933	11,387	68,320	10,000	
Repair & Maintenace	2,500	-	417	417	25,000	
TOTAL EXPENDITURES	$846,000	$121,795	$730,466	$852,261	$418,000	

EXCESS REVENUES (EXPENDITURES)	$-	$518,966	$(518,966)	$(0)	$-	

Coconut Cay	
Community Development District	
Adopted Budget	
Debt Service Fund - Series 2006A Special Assessment Revenue Bonds	

Adopted Budget	Actual Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY 2024	7/31/24	2 Months	9/30/24	FY 2025	

REVENUES:	
Special Assessments - A Bonds (1)	
Interest Income	
Carry Forward Surplus (2)	

$466,328	$468,857	$-	$468,857	$466,328	
-	14,838	2,968	17,806	4,000	
133,069	148,883	-	148,883	149,065	

TOTAL REVENUES	$599,397	$632,579	$2,968	$635,546	$619,393	

EXPENDITURES:

Series 2006A	
Interest - 11/01	
Principal - 05/01	
Interest - 05/01	

$115,294	$115,294	$-	$115,294	$108,978	
235,000	235,000	-	235,000	250,000	
115,294	115,294	-	115,294	108,978	

TOTAL EXPENDITURES	$465,588	$465,588	$-	$465,588	$467,956	

Other Financing Sources/(Uses)

$(14,011)	$(20,894)	$-	$(20,894)	($22,944)	

Interfund Transfer (3)

TOTAL OTHER FINANCING SOURCES/(USES)	$(14,011)	$(20,894)	$-	$(20,894)	$(22,944)	

EXCESS REVENUES	$119,799	$146,097	$2,968	$149,065	$128,493	
		
Interest Payment - 11/01	
	$102,259 	
				$102,259 	

(1) Based on Assessment Methodology from the Series 2006A Special Assessment Revenue Bonds.	
(2) Carry forward surplus is net of the reserve requirement.	
(3) After November 1, 2006, interest income earned on the Reserve Account is transferred to the Construction/Acquisition	
Account until Completion of the Project. After Completion to Deferred Costs, and if no deferred costs, to the Revenue Account.	
Excess Reserves are also transferred to the construction account until completion of the project. Also, excess revenues from	
the Revenue account get transferred to the Construction account.	

Coconut Cay	
Community Development District	
Amortization Schedule	
Series 2006A, Special Assessment Bonds	

DATE	BALANCE	RATE	PRINCIPAL	INTEREST	TOTAL	
	
11/01/24	$	4,055,000	5.375%	$	-	$	108,978.13	$	459,271.88	
05/01/25	$	4,055,000	5.375%	$	250,000.00	$	108,978.13	$	-	
11/01/25	$	3,805,000	5.375%	$	-	$	102,259.38	$	461,237.50	
05/01/26	$	3,805,000	5.375%	$	260,000.00	$	102,259.38	$	-	
11/01/26	$	3,545,000	5.375%	$	-	$	95,271.88	$	457,531.25	
05/01/27	$	3,545,000	5.375%	$	275,000.00	$	95,271.88	$	-	
11/01/27	$	3,270,000	5.375%	$	-	$	87,881.25	$	458,153.13	
05/01/28	$	3,270,000	5.375%	$	290,000.00	$	87,881.25	$	-	
11/01/28	$	2,980,000	5.375%	$	-	$	80,087.50	$	457,968.75	
05/01/29	$	2,980,000	5.375%	$	305,000.00	$	80,087.50	$	-	
11/01/29	$	2,675,000	5.375%	$	-	$	71,890.63	$	456,978.13	
05/01/30	$	2,675,000	5.375%	$	325,000.00	$	71,890.63	$	-	
11/01/30	$	2,350,000	5.375%	$	-	$	63,156.25	$	460,046.88	
05/01/31	$	2,350,000	5.375%	$	340,000.00	$	63,156.25	$	-	
11/01/31	$	2,010,000	5.375%	$	-	$	54,018.75	$	457,175.00	
05/01/32	$	2,010,000	5.375%	$	360,000.00	$	54,018.75	$	-	
11/01/32	$	1,650,000	5.375%	$	-	$	44,343.75	$	458,362.50	
05/01/33	$	1,650,000	5.375%	$	380,000.00	$	44,343.75	$	-	
11/01/33	$	1,270,000	5.375%	$	-	$	34,131.25	$	458,475.00	
05/01/34	$	1,270,000	5.375%	$	400,000.00	$	34,131.25	$	-	
11/01/34	$	870,000	5.375%	$	-	$	23,381.25	$	457,512.50	
05/01/35	$	870,000	5.375%	$	425,000.00	$	23,381.25	$	-	
11/01/35	$	445,000	5.375%	$	-	$	11,959.38	$	460,340.63	
05/01/36	$	445,000	5.375%	$	445,000.00	$	11,959.38	$	456,959.38	

Total	$4,055,000	$1,785,306	$6,416,513

Coconut Cay	
Community Development District	
Non-Ad Valorem Assessments Comparison	
2025-2024	

Product Type	O&M Units	Bonds
Units	Annual Maintenance Assessments	Annual Debt Assessments	Total Assessed Per Unit	
	FY 2025	FY2024	Increase/
(decrease)	FY 2025	FY2024	Increase/
(decrease)	FY 2025	FY2024	Increase/
(decrease)	

Single Family	
543	
543	
$210.53	
$210.53	
$0.00	
$904.00	
$904.00	
$0.00	
$1,114.53	
$1,114.53	
$0.00	
Total	543	543										

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