Scenic Terrace North
Community Development District

Proposed Budget
FY 2027

Table of Contents

1-2

3-6

7

General Fund

General Fund Narrative

Debt Service Fund - Series 2023

8	Amortization Schedule - Series 2023

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description		FY2026	2/28/26	7 Months	9/30/26	FY2027	

Revenues							
Assessments - Tax Roll	$	389,655  $	144,476  $	245,179  $	389,655  $	389,655	
Assessments - Direct	$	9,383  $	4,692  $	4,691  $	9,383  $	9,515	
Interest	$	-	$	2,424  $	2,909  $	5,333  $	-	
Other Income	$	-	$	60  $	-	$	60  $	-	
Total Revenues	$	399,038  $	151,651  $	252,779  $	404,431  $	399,169	

Expenditures							
General & Administrative							
Supervisor Fees	$	12,000  $	1,200  $	2,400  $	3,600  $	12,000	
FICA Expense	$	918  $	92  $	184  $	275  $	918	
Engineering	$	10,000  $	2,545  $	5,000  $	7,545  $	10,000	
Attorney	$	20,000  $	4,460  $	7,000  $	11,460  $	20,000	
Annual Audit	$	5,500  $	-	$	5,500  $	5,500  $	5,600	
Assessment Administration	$	5,150  $	5,150  $	-	$	5,150  $	5,408	
Arbitrage	$	450  $	450  $	-	$	450  $	450	
Disclosure Software	$	1,500  $	1,500  $	-	$	1,500  $	1,500	
Dissemination	$	5,408  $	2,603  $	3,155  $	5,758  $	5,678	
Trustee Fees	$	4,628  $	4,208  $	383  $	4,590  $	4,628	
Management Fees	$	41,200  $	17,167  $	24,033  $	41,200  $	43,260	
Information Technology	$	1,947  $	811  $	1,136  $	1,947  $	2,044	
Website Maintenance	$	1,298  $	541  $	757  $	1,298  $	1,363	
Postage & Delivery	$	500  $	239  $	261  $	500  $	500	
Insurance	$	7,891  $	6,163  $	-	$	6,163  $	6,779	
Printing & Binding	$	500  $	-	$	-	$	-	$	500	
Legal Advertising	$	2,500  $	2,398  $	2,500  $	4,898  $	2,500	
Other Current Charges	$	2,500  $	326  $	700  $	1,026  $	2,500	
Office Supplies	$	-	$	9  $	11  $	20  $	-	
Dues, Licenses & Subscriptions	$	175  $	175  $	-	$	175  $	175	
Total General & Administrative:	$	124,064  $	50,037  $	53,019  $	103,056  $	125,803	

Operations & Maintenance							
Field Services							
Property Insurance	$	10,000  $	3,321  $	-	$	3,321  $	3,155	
Field Management	$	15,450  $	6,438  $	9,013  $	15,450  $	16,223	
Landscape Maintenance	$	68,000  $	7,125  $	9,975  $	17,100  $	69,324	
Landscape Replacement	$	15,000  $	-	$	8,750  $	8,750  $	15,000	
Streetlights	$	37,287  $	18,306  $	21,751  $	40,057  $	46,000	
Electric	$	5,000  $	127  $	182  $	309  $	310	
Water & Sewer	$	40,000  $	6,686  $	7,500  $	14,186  $	30,000	
Irrigation Repairs	$	5,000  $	1,494  $	2,917  $	4,410  $	5,000	
General Repairs & Maintenance	$	10,000  $	603  $	5,833  $	6,436  $	10,000	
Pond Maintenance	$	6,000  $	3,750  $	5,250  $	9,000  $	9,000	
Holiday Lighting	$	5,000  $	3,330  $	-	$	3,330  $	3,330	
Contingency	$	7,500  $	7  $	4,375  $	4,382  $	7,500	
Subtotal Field Expenses	$	224,237  $	51,187  $	75,545  $	126,732  $	214,842	

Description

Adopted Budget
FY2026

Actuals Thru
2/28/26

Projected Next
7 Months

Projected Thru
9/30/26

Proposed Budget
FY2027

Amenity Expenses		
Playground Lease	$	12,173	$	-	$	-	$	-	$	-	
Interlocal Amenity Agreement	$	38,563	$	40,508	$	-	$	40,508	$	54,384	
Subtotal Amenity Expenses	$	50,736	$	40,508	$	-	$	40,508	$	54,384	

Total Operations & Maintenance:	$	274,973	$	91,695	$	75,545	$	167,240	$	269,226	

Other Financing Sources/(Uses):

Capital Reserves	

$	-	$	-	$	-	$	

-	$	4,141	
Total Other Financing Sources/(Uses)	$	-	$	-	$	-	$	-	$	4,141	

Total Expenditures	$	399,038	$	141,733	$	128,564	$	270,297	$	399,169	
											
Excess Revenues/(Expenditures)	$	-	$	9,919	$	124,216	$	134,134	$	-	

Product	Units	Net Assessment	Net Per Unit (7%)	Gross Per Unit	
Platted Lots	330	$389,654.53	$1,180.77	$1,269.65	
Unplatted	27	$9,514.50	$352.39	$378.91	
Total	357	$399,169.03			

Product	
FY2027	
FY2026	
Increase/ (Decrease)		
Platted	$1,269.65	$1,269.65	$0.00		

Revenues:

Assessments

The District levies 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.

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

Arbitrage

The District contracts with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on Series 2023 bond issuance.

Disclosure Software

The District has contracted with DTS to provide software platform for filing various reports required in accordance with the Continuing Disclosure Agreements for the various bond issue(s).

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 Series 2023 bond issuance.

Trustee Fees

The District incurs 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.

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.

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

Represents the cost of contracting services provided by Governmental Management Services-Central Florida, LLC., which deliver onsite field management for District contracts such as landscape and lake maintenance. Services may include onsite inspections, coordination and meetings with contractors, monitoring of utility accounts, attendance at Board meetings, and responding to property owner phone calls and emails.

Landscape Maintenance

Represents the estimated maintenance of the landscaping within the common areas of the District after the installation of landscape material has been completed.

Landscape Replacement

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

Streetlights

Represents current and estimated street lights within the District Boundaries 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.

Pond Maintenance

Represents the estimated cost of maintaining ponds in the District.

Holiday Lighting

Enhance festive celebrations with vibrant and energy-efficient holiday lighting. Proper installation and weatherproofing ensure safety and longevity, while timers and smart controls add convenience. Thoughtful placement can create a warm and inviting atmosphere for any space.

Contingency

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

Amenity Expenses

Interlocal Amenity Agreement – Scenic Terrace South CDD

The District entered into an Interlocal Agreement with Scenic Terrace South Community Development District (CDD) for the use of their amenity facilities. This cost is based on the overall amenity budget of Scenic Terrace South CDD.

Other Financing Sources/(Uses)

Capital Reserve

Represents projected transfer out to the Capital Projects fund.

Scenic Terrace North
Community Development District Proposed Budget
Debt Service Fund Series 2023

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
	Description	FY2026	2/28/26	7 Months	9/30/26	FY2027	

Revenues							

Assessments - Tax Roll	
$	656,536	
$	241,801	
$	414,735	
$	656,536	
$	656,536	
Assessments - Prepayments	$	-	$	41,054	$	-	$	41,054	$	-	
Interest Income	$	49,563	$	17,537	$	21,044	$	38,580	$	19,290	
Carry Forward Surplus	$	636,439	$	688,294	$	-	$	688,294	$	666,523	
Total Revenues	$	1,342,538	$	988,686	$	435,779	$	1,424,465	$	1,342,349	
Expenses						
Special Call - 11/1	$	-	$	60,000	$	-	$	60,000	$	-	
Interest- 11/1	$	267,488	$	267,488	$	-	$	267,488	$	261,272	
Special Call - 2/1	$	-	$	15,000	$	-	$	15,000	$	-	
Interest- 2/1	$	-	$	214	$	-	$	214	$	-	
Special Call - 5/1	$	-	$	-	$	30,000	$	30,000	$	-	
Principal - 5/1	$	125,000	$	-	$	120,000	$	120,000	$	130,000	
Interest - 5/1	$	267,488	$	-	$	265,241	$	265,241	$	261,272	
Total Expenditures	$	659,975	$	342,702	$	415,241	$	757,942	$	652,544	
						
Excess Revenues/(Expenditures)	$	682,563	$	645,984	$	20,538	$	666,523	$	689,805	

*Carry forward less amount in Reserve funds.						
				Series 2023 Interest - 11/01/27	
$257,941	
Product	Assessable Units	Net Assessment	Net Per Unit	Gross Per Unit		
Single Family - Paid Down	258	$451,500	$1,750.00	$1,881.72		
Single Family	72	$205,036	$2,847.73	$3,062.07		
Total	330	$656,536				

Scenic Terrace North Community Development District Series 2023 Special Assessment Bonds Amortization Schedule

DATE		BALANCE		PRINCIPAL		INTEREST		TOTAL	
									
11/01/26	$	8,745,000.00	$	-	$	261,271.88	$	261,271.88	
05/01/27	$	8,745,000.00	$	130,000.00	$	261,271.88			
11/01/27	$	8,615,000.00	$	-	$	257,940.63	$	649,212.51	
05/01/28	$	8,615,000.00	$	135,000.00	$	257,940.63			
11/01/28	$	8,480,000.00	$	-	$	254,481.25	$	647,421.88	
05/01/29	$	8,480,000.00	$	140,000.00	$	254,481.25			
11/01/29	$	8,340,000.00	$	-	$	250,893.75	$	645,375.00	
05/01/30	$	8,340,000.00	$	150,000.00	$	250,893.75			
11/01/30	$	8,190,000.00	$	-	$	247,050.00	$	647,943.75	
05/01/31	$	8,190,000.00	$	160,000.00	$	247,050.00			
11/01/31	$	8,030,000.00	$	-	$	242,350.00	$	649,400.00	
05/01/32	$	8,030,000.00	$	170,000.00	$	242,350.00			
11/01/32	$	7,860,000.00	$	-	$	237,356.25	$	649,706.25	
05/01/33	$	7,860,000.00	$	180,000.00	$	237,356.25			
11/01/33	$	7,680,000.00	$	-	$	232,068.75	$	649,425.00	
05/01/34	$	7,680,000.00	$	190,000.00	$	232,068.75			
11/01/34	$	7,490,000.00	$	-	$	226,487.50	$	648,556.25	
05/01/35	$	7,490,000.00	$	200,000.00	$	226,487.50			
11/01/35	$	7,290,000.00	$	-	$	220,612.50	$	647,100.00	
05/01/36	$	7,290,000.00	$	215,000.00	$	220,612.50			
11/01/36	$	7,075,000.00	$	-	$	214,296.88	$	649,909.38	
05/01/37	$	7,075,000.00	$	225,000.00	$	214,296.88			
11/01/37	$	6,850,000.00	$	-	$	207,687.50	$	646,984.38	
05/01/38	$	6,850,000.00	$	240,000.00	$	207,687.50			
11/01/38	$	6,610,000.00	$	-	$	200,637.50	$	648,325.00	
05/01/39	$	6,610,000.00	$	255,000.00	$	200,637.50			
11/01/39	$	6,355,000.00	$	-	$	193,146.88	$	648,784.38	
05/01/40	$	6,355,000.00	$	270,000.00	$	193,146.88			
11/01/40	$	6,085,000.00	$	-	$	185,215.63	$	648,362.51	
05/01/41	$	6,085,000.00	$	285,000.00	$	185,215.63			
11/01/41	$	5,800,000.00	$	-	$	176,843.75	$	647,059.38	
05/01/42	$	5,800,000.00	$	305,000.00	$	176,843.75			
11/01/42	$	5,495,000.00	$	-	$	167,884.38	$	649,728.13	
05/01/43	$	5,495,000.00	$	320,000.00	$	167,884.38			
11/01/43	$	5,175,000.00	$	-	$	158,484.38	$	646,368.76	
05/01/44	$	5,175,000.00	$	340,000.00	$	158,484.38			
11/01/44	$	4,835,000.00	$	-	$	148,071.88	$	646,556.26	
05/01/45	$	4,835,000.00	$	360,000.00	$	148,071.88			
11/01/45	$	4,475,000.00	$	-	$	137,046.88	$	645,118.76	
05/01/46	$	4,475,000.00	$	385,000.00	$	137,046.88			
11/01/46	$	4,090,000.00	$	-	$	125,256.25	$	647,303.13	
05/01/47	$	4,090,000.00	$	410,000.00	$	125,256.25			
11/01/47	$	3,680,000.00	$	-	$	112,700.00	$	647,956.25	
05/01/48	$	3,680,000.00	$	435,000.00	$	112,700.00			
11/01/48	$	3,245,000.00	$	-	$	99,378.13	$	647,078.13	
05/01/49	$	3,245,000.00	$	460,000.00	$	99,378.13			
11/01/49	$	2,785,000.00	$	-	$	85,290.63	$	644,668.76	
05/01/50	$	2,785,000.00	$	490,000.00	$	85,290.63			
11/01/50	$	2,295,000.00	$	-	$	70,284.38	$	645,575.01	
05/01/51	$	2,295,000.00	$	520,000.00	$	70,284.38			
11/01/51	$	1,775,000.00	$	-	$	54,359.38	$	644,643.76	
05/01/52	$	1,775,000.00	$	555,000.00	$	54,359.38			
11/01/52	$	1,220,000.00	$	-	$	37,362.50	$	646,721.88	
05/01/53	$	1,220,000.00	$	590,000.00	$	37,362.50			
11/01/53	$	630,000.00	$	-	$	19,293.75	$	646,656.25	
05/01/54	$	630,000.00	$	630,000.00	$	19,293.75	$	649,293.75	
			$	8,745,000.00	$	9,647,506.38	$	18,392,506.38