Crosswinds East
Community Development District

Proposed Budget
FY2025

Table of Contents

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3-6

7

General Fund General Fund Narrative Debt Service - Series 2024

8-9	Amortization Schedule

Adopted Budget	Actuals Thru	Projected Next	Total Thru	Proposed Budget	
Description	FY2024	03/31/24	6 Months	9/30/24	FY2025	
Revenues				
Assessments - On Roll	$	-	$	-	$	-	$	-	$	385,000	
Assessments - Direct (Unplatted)	$	-	$	-	$	-	$	-	$	50,000	
Assessments - Lot Closing	$	-	$	31,048	$	-	$	31,048	$	-	
Developer Contributions	$	383,770	$	60,000	$	80,651	$	106,962	$	141,860	
Boundary Amendment Contribution	$	-	$	2,640	$	-	$	2,640	$	-	
Total Revenues	$	383,770	$	93,688	$	80,651	$	140,650	$	576,860	
Expenditures						
General & Administrative
Supervisor Fees	
$	12,000	
$	4,200	
$	6,000	
$	10,200	
$	12,000	
Engineering	$	15,000	$	12,736	$	1,680	$	14,416	$	15,000	
Attorney	$	25,000	$	21,642	$	36,042	$	57,684	$	60,000	
Annual Audit	$	4,000	$	-	$	-	$	-	$	4,000	
Assessment Administration	$	5,000	$	-	$	-	$	-	$	5,000	
Arbitrage	$	450	$	-	$	-	$	-	$	450	
Dissemination	$	5,000	$	-	$	-	$	-	$	5,000	
Trustee Fees	$	4,020	$	-	$	-	$	-	$	4,020	
Management Fees	$	37,500	$	18,750	$	18,750	$	37,500	$	40,000	
Information Technology	$	1,800	$	900	$	900	$	1,800	$	1,890	
Website Maintenance	$	1,200	$	600	$	600	$	1,200	$	1,260	
Postage & Delivery	$	1,000	$	79	$	60	$	139	$	250	
Insurance	$	5,500	$	5,200	$	-	$	5,200	$	5,980	
Copies	$	1,000	$	-	$	300	$	300	$	750	
Legal Advertising	$	10,000	$	2,726	$	5,000	$	7,726	$	10,000	
Other Current Charges	$	4,500	$	234	$	1,125	$	1,359	$	2,500	
Boundary Amendment Expense	$	-	$	2,640		$	2,640	$	-	
Office Supplies	$	625	$	12	$	300	$	312	$	625	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total General & Administrative:	$	133,770	$	69,894	$	70,757	$	140,651	$	168,900	
Operations & Maintenance
Field Expensitures
Property Insurance	$	-	$	-	

$	-	

$	-	$	8,000	
Field Management	$	-	$	-	$	-	$	-	$	15,000	
Landscaping Replacement	$	-	$	-	$	-	$	-	$	7,500	
Streetlights	$	-	$	-	$	-	$	-	$	18,000	
Electric	$	-	$	-	$	-	$	-	$	2,000	
Water & Sewer	$	-	$	-	$	-	$	-	$	15,000	
Landscape Maintenance	$	-	$	-	$	-	$	-	$	58,500	
Irrigation Repairs	$	-	$	-	$	-	$	-	$	3,500	
Maintenance	$	-	$	-	$	-	$	-	$	8,500	
Field Contingency	$	200,000	$	-	$	-	$	-	$	100,000	
Subtotal Field Expenditures	$	200,000	$	-	$	-	$	-	$	236,000	

Description		Adopted Budget FY2024	Actuals Thru 03/31/24	Projected Next
6 Months	Total Thru 9/30/24	Proposed Budget FY2025	

Amenities Expenditures							
Amenity - Electric	$	-	$	-	$	-	$	-	$	2,600	
Amenity - Water	$	-	$	-	$	-	$	-	$	6,000	
Playground & Furniture Lease	$	50,000	$	-	$	-	$	-	$	50,000	
Internet	$	-	$	-	$	-	$	-	$	2,000	
Amenity Landscaping	$	-	$	-	$	-	$	-	$	6,500	
Replacement	$	-	$	-	$	-	$	-	$	3,500	
Amenity Irrigation Repairs	$	-	$	-	$	-	$	-	$	2,500	
Pest Control	$	-	$	-	$	-	$	-	$	1,500	
Janitorial Services	$	-	$	-	$	-	$	-	$	16,160	
Security Services	$	-	$	-	$	-	$	-	$	30,000	
Pool Maintenance	$	-	$	-	$	-	$	-	$	23,700	
Maintenance	$	-	$	-	$	-	$	-	$	10,000	
Amenity Access Management	$	-	$	-	$	-	$	-	$	10,000	
Amenties Contingency	$	-	$	-	$	-	$	-	$	7,500	
Subtotal Amenity Expenditures	$	50,000	$	-	$	-	$	-	$	171,960	

Total Operations & Maintenance:

$

250,000	$

-

$

-

$

-

$

407,960

Total Expenditures	$	383,770	$	69,894	$	70,757	$	140,651	$	576,860	
							
Excess Revenues/(Expenditures)	$	-	$	23,795	$	9,894	$	(0)	$	-	
					
Net Assessments	
$435,000	
Add: Discounts & Collections 7% 		$32,742  Gross Assessments 	$467,742 

Product	Assessable Units	Net Assessment	Net Per Unit	Gross Per Unit	
Townhomes - Platted	308	$385,000	$1,250.00	$1,344.09	
Unplatted		$50,000			
	308	$435,000			

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.

Developer Contributions

The District will enter into a funding agreement with the Developer to fund the General Fund expenditures for 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 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 has contracted with Governmental Management Services-Central Florida, LLC 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 bonds and any other 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.

Trustee Fees

The District will incur trustee related costs with the issuance of its Series 2024 bond and anticipated issuances with US Bank.

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 with Governmental Management Services–Central Florida, LLC 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.

Website Maintenance

Represents the costs with Governmental Management Services–Central Florida LLC 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.

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 coverage.

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.

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.

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:

Property Insurance

Represents the estimated costs of insurance coverage to governmental agencies.

Field Management

Represents the estimated costs for onsite field management.

Landscape Replacement

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

Streetlights

Represents the estimated costs to maintain street lights within the District Boundaries.

Electric

Represents the estimated costs for electric charges of common areas throughout the District.

Water & Sewer

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

Landscape Maintenance

Represents the estimated costs to provide maintenance of the landscaping within the District.

Irrigation Repairs

Represents the estimated costs of maintaining and repairing the irrigation system.

Maintenance

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

Field Contingency

Represents the estimated costs the District could incur throughout the fiscal year for field related items.

Amenity Expenditures

Amenity - Electric

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

Amenity – Water

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

Playground Lease

Represents the estimated costs of leasing playground equipment.

Internet

Represents the cost of internet service for the amenity facility.

Amenity Landcaping

Represents the estimated costs to maintain the landscaping for the amenity facility.

Replacement

Represents the estimated costs of replacing landscaping for the amenity facility.

Amenity Irrigation Repairs

Represents the estimated costs of maintaining and repairing the irrigation system for the amenity facility.

Pest Control

Represents the estimated costs for pest control treatments to its amenity facilities.

Janitorial Services

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

Security Services

Represents the estimated costs of maintaining security systems in place.

Pool Maintenance

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

Maintenance

Represents estimated costs to maintenance of the District’s amenity facilities.

Amenity Access Management

Represents the cost of managing access to the District’s amenity facility.

Amenties Contingency

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

Proposed Budget Debt Service Fund Series 2024

Description	Adopted Budget
FY2024	Actuals Thru
03/31/24	Projected Next
6 Months	Total Thru
09/30/24	Proposed Budget
FY2025	

Revenues							

Assessments	
$	
-	
$	
-	
$	
713,200	
$	
713,200	
$	
1,783,400	
Interest	$	-	$	274	$	411	$	684	$	-	
Carry Forward Surplus (1)	$	-	$	-	$	-	$	-	$	713,884	
Total Revenues	$	-	$	274	$	713,611	$	713,884	$	2,497,284	

Expenditures	

Interest - 11/1	$	-	$	-	$	-	$	-	$	713,200	
Principal - 5/1	$	-	$	-	$	-	$	-	$	365,000	
Interest - 5/1	$	-	$	-	$	245,658	$	245,658	$	713,200	
Total Expenditures	$	-	$	-	$	245,658	$	245,658	$	1,791,400	

Other Financing Sources/(Uses)						
Bond Proceeds	$	-	$	2,029,058	$	-	$	2,029,058	$	-	
Total Other Sources/(Uses)	$	-	$	2,029,058	$	-	$	2,029,058	$	-	
						
Excess Revenues/(Expenditures)	$	-	$	2,029,332	$	467,953	$	2,497,284	$	705,884	

(1) Carryforward Surplus is net of Debt Service	

Reserve Funds			
Interest - 11/1	
$	704,759.38	
Product	Assessable Units	Net Assessment	Net Per Unit	Gross Per Unit		
Townhome	120	$138,000	$1,150.00	$1,236.56		
Townhome - DR Horton	102	$86,700	$850.00	$913.98		
Townhome - West Bay	308	$261,800	$850.00	$913.98		
Single Family - 40'	258	$425,700	$1,650.00	$1,774.19		
Single Family - 50'	528	$871,200	$1,650.00	$1,774.19		
Total ERU's	1316	$1,783,400				

Series 2024 Special Assessment Bonds Amortization Schedule

Date	Balance	Prinicpal	Interest	Total

11/01/24	$	25,785,000.00	$	
05/01/25	$	25,785,000.00	$	365	
11/01/25	$	25,420,000.00	$	
05/01/26	$	25,420,000.00	$	380	
11/01/26	$	25,040,000.00	$	
05/01/27	$	25,040,000.00	$	400	
11/01/27	$	24,640,000.00	$	
05/01/28	$	24,640,000.00	$	415	
11/01/28	$	24,225,000.00	$	
05/01/29	$	24,225,000.00	$	435	
11/01/29	$	23,790,000.00	$	
05/01/30	$	23,790,000.00	$	455	
11/01/30	$	23,335,000.00	$	
05/01/31	$	23,335,000.00	$	480	
11/01/31	$	22,855,000.00	$	
05/01/32	$	22,855,000.00	$	505	
11/01/32	$	22,350,000.00	$	
05/01/33	$	22,350,000.00	$	535	
11/01/33	$	21,815,000.00	$	
05/01/34	$	21,815,000.00	$	560	
11/01/34	$	21,255,000.00	$	
05/01/35	$	21,255,000.00	$	595	
11/01/35	$	20,660,000.00	$	
05/01/36	$	20,660,000.00	$	630	
11/01/36	$	20,030,000.00	$	
05/01/37	$	20,030,000.00	$	665	
11/01/37	$	19,365,000.00	$	
05/01/38	$	19,365,000.00	$	700	
11/01/38	$	18,665,000.00	$	
05/01/39	$	18,665,000.00	$	740	
11/01/39	$	17,925,000.00	$	
05/01/40	$	17,925,000.00	$	780	
11/01/40	$	17,145,000.00	$	
05/01/41	$	17,145,000.00	$	825	
11/01/41	$	15,445,000.00	$	
05/01/42	$	13,545,000.00	$	875	
11/01/42	$	13,545,000.00	$	
05/01/43	$	13,545,000.00	$	925	
11/01/43	$	13,545,000.00	$	
05/01/44	$	13,545,000.00	$	975	
11/01/44	$	13,545,000.00	$	
05/01/45	$	13,545,000.00	$	1,030	
11/01/45	$	12,515,000.00	$	
05/01/46	$	12,515,000.00	$	1,095	
11/01/46	$	11,420,000.00	$	

$	713,200.00	$	958,857.78	
$	713,200.00		
$	704,759.38	$	1,782,959.38	
$	704,759.38		
$	695,971.88	$	1,780,731.25	
$	695,971.88		
$	686,721.88	$	1,782,693.75	
$	686,721.88		
$	677,125.00	$	1,778,846.88	
$	677,125.00		
$	667,065.63	$	1,779,190.63	
$	667,065.63		
$	656,543.75	$	1,778,609.38	
$	656,543.75		
$	645,443.75	$	1,781,987.50	
$	645,443.75		
$	631,556.25	$	1,782,000.00	
$	631,556.25		
$	616,843.75	$	1,783,400.00	
$	616,843.75		
$	601,443.75	$	1,778,287.50	
$	601,443.75		
$	585,081.25	$	1,781,525.00	
$	585,081.25		
$	567,756.25	$	1,782,837.50	
$	567,756.25		
$	549,468.75	$	1,782,225.00	
$	549,468.75		
$	530,218.75	$	1,779,687.50	
$	530,218.75		
$	509,868.75	$	1,780,087.50	
$	509,868.75		
$	488,418.75	$	1,778,287.50	
$	488,418.75		
$	465,731.25	$	1,779,150.00	
$	465,731.25		
$	441,668.75	$	1,782,400.00	
$	441,668.75	$	-	
$	416,231.25	$	1,782,900.00	
$	416,231.25	$	-	
$	389,418.75	$	1,780,650.00	
$	389,418.75		
$	359,806.25	$	1,779,225.00	
$	359,806.25		
$	328,325.00	$	1,783,131.25	

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

Series 2024 Special Assessment Bonds Amortization Schedule

Date	Balance	Prinicpal	Interest	Total	

05/01/47	
$	11,420,000.00	
$	1,155,000.00	
$	328,325.00		
11/01/47	$	10,265,000.00	$	-	$	295,118.75	$	1,778,443.75	
05/01/48	$	10,265,000.00	$	1,225,000.00	$	295,118.75		
11/01/48	$	9,040,000.00	$	-	$	259,900.00	$	1,780,018.75	
05/01/49	$	9,040,000.00	$	1,300,000.00	$	259,900.00		
11/01/49	$	7,740,000.00	$	-	$	222,525.00	$	1,782,425.00	
05/01/50	$	7,740,000.00	$	1,375,000.00	$	222,525.00		
11/01/50	$	6,365,000.00	$	-	$	182,993.75	$	1,780,518.75	
05/01/51	$	6,365,000.00	$	1,455,000.00	$	182,993.75		
11/01/51	$	4,910,000.00	$	-	$	141,162.50	$	1,779,156.25	
05/01/52	$	4,910,000.00	$	1,545,000.00	$	141,162.50		
11/01/52	$	3,365,000.00	$	-	$	96,743.75	$	1,782,906.25	
05/01/53	$	3,365,000.00	$	1,635,000.00	$	96,743.75		
11/01/53	$	1,730,000.00	$	-	$	49,737.50	$	1,781,481.25	
05/01/54	$	1,730,000.00	$	1,730,000.00	$	49,737.50	$	1,779,737.50	
		$	25,785,000.00	$	28,599,357.78	$	54,384,357.78