Amended Budget	
Fiscal Year 2024	

Quail Roost
Community Development District

July 19, 2024

Quail Roost	
Community Development District	

	
General Fund	
FY2024	

		Adopted	
		Budget	
Description		FY2023	

Actual	
Thru	
4/30/2023	

Projected		Projected	
Next		thru	
5 Months		9/30/2023	

Amended	
Budget	
FY2024	

Revenues		
Maintenance Assessments - On Roll	$149,450	
Developer Contributions

Total Revenues	$0

$149,450	

$147,024	
$0

$147,024	

$2,426	$149,450	
$0	$0

$2,426	$149,450	

$  150,120	
$1,330,938

$1,481,058	

Expenditures

$5,000	
$600	
$3,000	
$5,000	
$15,000	
$3,600	
$4,100	
$26,400	
$275	
$300	
$5,919	
$750	
$600	
$1,000	
$100	
$175	
$71,819	

$644	
$550	
$1,750	
$5,000	
$3,559	
$5,600	
$8,081	
$15,400	
$50	
$29	
$5,988	
$389	
$256	
$583	
$0	
$175	
$48,054	

$1,383	$2,027	
$0	$550	
$1,250	$3,000	
$0	$5,000	
$7,500	$11,059	
$0	$5,600	
$0	$8,081	
$11,000	$26,400	
$36	$86	
$125	$154	
$0	$5,988	
$361	$750	
$183	$439	
$417	$1,000	
$42	$42	
$0	$175	
$22,296	$70,350	

$3,500	
$12,000	
$5,700	
$5,000	
$1,100	
$3,000	
$8,100	
$26,400	
$1,000	
$200	
$6,807	
$100	
$750	
$600	
$100	
$175	
$74,532	

Administrative Engineering Fees Arbitrage Dissemination Agent Assessment Roll Attorney Fees Annual Audit Trustee Fees Management Fees Postage
Printing & Binding Insurance
Legal Advertising Other Current Charges Website Compliance Office Supplies
Dues, Licenses & Subscriptions

Total Administrative
 
Field Maintenance

$30,000	
$29,750	
$6,000	
$8,881	
$3,000	
$0	

$27,300	
$4,800	
$3,500	
$0	
$0	
$0	

$19,500	
$9,500	
$2,500	
$1,250	
$1,000	
$0	

$46,800	
$14,300	
$6,000	
$1,250	
$1,000	
$0	

$46,800	
$27,000	
$6,000	
$1,468	
$1,000	
$1,305,058	

Landscape Maintenance
Landscape Maintenance (Galiano - MDC) Field Management
Contingencies Wall Maintenance Capital Outlay

Total Field	$77,631	$35,600	$43,500	$79,100	$1,406,526

Total Expenditures	$149,450	$83,654		$65,796	$149,450	$1,481,058 Assigned Fund Balance		$0	$63,370	($63,370)		($0)		$0

Net Assessments	
Plus Collection Fees (5%)	
Gross Assessments	
No. of Units (Galiano)	
Net Per Unit Assessment (Galiano)	
Gross Per Unit Assessment (Galiano)	
No. of Units (Expansion Area)	
Net Per Unit Assessment (Exp. Area)	
Gross Per Unit Assessment (Exp. Area)	

	

$149,000.00	
$7,841.75	
$156,841.75	
85	
$800.00	
$842.11	
180	
$450.00	
$473.68	

Page 1

REVENUES:

Maintenance Assessments - Net
The District will levy a Non-Ad Valorem assessment on all the platted lots within the District to pay the operating expenses for the Fiscal Year in accordance with the adopted budget. The proposed assessment for Operations and Maintenance is $842.11 per unit.

____________________________________________________________________________________________________________________________________________________________

EXPENDITURES:

Administrative:

Engineering Fees
The District's engineer will be providing general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review invoices, etc.
Arbitrage
The District is required to have an annual arbitrage rebate calculation on the District’s Bonds. The District will contract with an independent auditing firm to perform the calculations.

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.

Attorney Fees
The District's legal counsel will be providing general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating & maintenance contracts, etc.

Annual Audit
The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm.

Trustee Fees
The District bonds will be held and administered by a Trustee. This represents the banks 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.

Assessment Roll
Represents an annual charge for preparing and administrating the District’s assessments on the landowner’s tax bills.
Postage
Mailing of agenda packages, overnight deliveries, correspondence, etc.

Printing & Binding
Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc.

Insurance
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.

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 that incurred during the year.

Website Compliance
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.

Office Supplies
Miscellaneous office supplies.

Administrative: (continued)

Dues, Licenses & Subscriptions
The District is required to pay an annual fee to the Department of Economic Opportunity for $175. This is the only expense under this category for the District.

Discount & Collections
These are a percentage of the annual assessment; 1% for the tax collector and 4% for early payment discounts.

Maintenance:

Landscape Maintenance Other
Any unanticipated landscape improvement expenses to the District.

Landscape Maintenance)
The District has a contract with Tony Nursery and Garden Company for the maintenance of the Common Areas within the district. Which includes grass cutting and edging.

Landscape Maintenance (Galiano - MDC)
The District has a contract with Tony Nursery and Garden Company for the maintenance of the Common Areas within the expansion area. Which includes grass cutting and edging.

Contingencies
Represents any expenditures not mentioned above during the Fiscal Year.
Wall Maintenance
The cost is to maintain the walls of the district.

Field Management
The District has a contract Governmental Management Services, South Florida, LLC for on-site management. The responsibilities include reviewing contracts and other maintenance related items.

Debt Service	
Series 2018, Special Assessment Bonds	

	

	

	

	

Revenues		
Interest Income	$0	
Special Assessments	$134,613	
Carry Forward Surplus (1)	$88,648	

$1,659	
$133,195	
$89,131	

$1,185	
$1,418	
$0	

$2,844	
$134,613	
$89,131	

$1,000	
$134,613	
$92,750	

Adopted	
Budget	
FY2023	

Actual	
Thru	
4/30/2023	

Projected	
Next	
5 Months	

Projected	
thru	
9/30/2023	

Amended	
Budget	
FY2024	

Description

Total Revenues	$223,260	$223,984	$2,603	$226,587	$228,363

12/15/24 Interest	
$45,737	
12/15/24 Principa	$43,000	

Expenditures

Interest Expense - 12/15	
Principal Expense - 12/15	
Interest Expense - 6/15	

$47,306	
$40,000	
$46,531	

$47,306	
$40,000	
$0	

$0	
$0	
$46,531	

$47,306	
$40,000	
$46,531	

$46,531	
$41,000	
$45,737	

Total Expenditures	$133,838		$87,306		$46,531		$133,838		$133,268	
										
Assigned Fund Balance	$89,423		$136,678		($43,928)		$92,750		$95,094	

(1) Carry forward is net of Reserve.										
									$88,737	

Land Use Single Family	
No. Units 85	
Gross Per Unit
$1,667.03
Gross Assessments Less: Comm/Disc
Total Net	
Total	
			$141,697.55	
			$141,697.55	
			-$7,085.05	
			$134,612.50	

				
DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL

12/15/2023	$	1,946,000.00	$	41,000.00	$	46,531.25	$	87,531.25	
6/15/2024	$	1,905,000.00	$	-	$	45,736.88	$	45,736.88	
12/15/2024	$	1,905,000.00	$	43,000.00	$	45,736.88	$	88,736.88	
6/15/2025	$	1,862,000.00	$	-	$	44,903.75	$	44,903.75	
12/15/2025	$	1,862,000.00	$	44,000.00	$	44,903.75	$	88,903.75	
6/15/2026	$	1,818,000.00	$	-	$	43,968.75	$	43,968.75	
12/15/2026	$	1,818,000.00	$	46,000.00	$	43,968.75	$	89,968.75	
6/15/2027	$	1,772,000.00	$	-	$	42,991.25	$	42,991.25	
12/15/2027	$	1,772,000.00	$	48,000.00	$	42,991.25	$	90,991.25	
6/15/2028	$	1,724,000.00	$	-	$	41,971.25	$	41,971.25	
12/15/2028	$	1,724,000.00	$	50,000.00	$	41,971.25	$	91,971.25	
6/15/2029	$	1,674,000.00	$	-	$	40,908.75	$	40,908.75	
12/15/2029	$	1,674,000.00	$	52,000.00	$	40,908.75	$	92,908.75	
6/15/2030	$	1,622,000.00	$	-	$	39,803.75	$	39,803.75	
12/15/2030	$	1,622,000.00	$	55,000.00	$	39,803.75	$	94,803.75	
6/15/2031	$	1,567,000.00	$	-	$	38,497.50	$	38,497.50	
12/15/2031	$	1,567,000.00	$	57,000.00	$	38,497.50	$	95,497.50	
6/15/2032	$	1,510,000.00	$	-	$	37,143.75	$	37,143.75	
12/15/2032	$	1,510,000.00	$	60,000.00	$	37,143.75	$	97,143.75	
6/15/2033	$	1,450,000.00	$	-	$	35,718.75	$	35,718.75	
12/15/2033	$	1,450,000.00	$	63,000.00	$	35,718.75	$	98,718.75	
6/15/2034	$	1,387,000.00	$	-	$	34,222.50	$	34,222.50	
12/15/2034	$	1,387,000.00	$	66,000.00	$	34,222.50	$	100,222.50	
6/15/2035	$	1,321,000.00	$	-	$	32,655.00	$	32,655.00	
12/15/2035	$	1,321,000.00	$	69,000.00	$	32,655.00	$	101,655.00	
6/15/2036	$	1,252,000.00	$	-	$	31,016.25	$	31,016.25	
12/15/2036	$	1,252,000.00	$	72,000.00	$	31,016.25	$	103,016.25	
6/15/2037	$	1,180,000.00	$	-	$	29,306.25	$	29,306.25	
12/15/2037	$	1,180,000.00	$	76,000.00	$	29,306.25	$	105,306.25	
6/15/2038	$	1,104,000.00	$	-	$	27,501.25	$	27,501.25	
12/15/2038	$	1,104,000.00	$	79,000.00	$	27,501.25	$	106,501.25	
6/15/2039	$	1,025,000.00	$	-	$	25,625.00	$	25,625.00	
12/15/2039	$	1,025,000.00	$	80,000.00	$	25,625.00	$	105,625.00	
6/15/2040	$	945,000.00	$	-	$	23,625.00	$	23,625.00	
12/15/2040	$	945,000.00	$	85,000.00	$	23,625.00	$	108,625.00	
6/15/2041	$	860,000.00	$	-	$	21,500.00	$	21,500.00	
12/15/2041	$	860,000.00	$	90,000.00	$	21,500.00	$	111,500.00	
6/15/2042	$	770,000.00	$	-	$	19,250.00	$	19,250.00	
12/13/2042	$	770,000.00	$	95,000.00	$	19,250.00	$	114,250.00	
6/15/2043	$	675,000.00	$	-	$	16,875.00	$	16,875.00	
12/13/2043	$	675,000.00	$	100,000.00	$	16,875.00	$	116,875.00	
6/15/2044	$	575,000.00	$	-	$	14,375.00	$	14,375.00	
12/13/2044	$	575,000.00	$	105,000.00	$	14,375.00	$	119,375.00	
6/15/2045	$	470,000.00	$	-	$	11,750.00	$	11,750.00	
12/13/2045	$	470,000.00	$	110,000.00	$	11,750.00	$	121,750.00	
6/15/2046	$	360,000.00	$	-	$	9,000.00	$	9,000.00	
12/13/2046	$	360,000.00	$	115,000.00	$	9,000.00	$	124,000.00	
6/15/2047	$	245,000.00	$	-	$	6,125.00	$	6,125.00	
12/13/2047	$	245,000.00	$	120,000.00	$	6,125.00	$	126,125.00	
6/15/2048	$	125,000.00	$	-	$	3,125.00	$	3,125.00	
12/15/2048	 $	125,000.00 	 $	125,000.00 	 $	3,125.00 	 $	128,125.00 	

Amortization Schedule	
Series 2018, Special Assessment Bonds	

	Total	

 $	1,946,000.00 

 $	1,481,722.51 

 $	3,427,722.51 

Revenues		
Interest Income	$0	
Direct Assessments	$312,950	
Special Assessments - On Roll	$0	
Special Assessments - Prepayment	$0	
Carry Forward Surplus (1)
Total Revenues	$78,055
$391,005	

Other Financing Sources/(Uses)	
Interfund Transfer In/(Out)	
Total Other Financing	
Sources/(Uses)	

Expenditures

$2,247 96,306

Adopted	
Budget	
FY2023	

Actual		Projected	
Thru		Next	
4/30/2023		5 Months	

Projected	
thru	
9/30/2023	

Amended	
Budget	
FY2024	

$3,146	
$216,644	$	
$305,678	
$35,467	
$2,082
$563,017	$98	

$5,394	
$312,950	
$305,678	
$35,467	
$2,082	
$661,571	

$1,000	
$0	
$309,050	
$0	
$327,535	
$637,585	

$0
$0
$0

,553

Quail Roost	
Community Development District	

Debt Service	
Series 2021, Special Assessment Bonds	

$0	($945)	

12/15/24 Interest	
$88,871	
12/15/24 Princip	$120,000	

	

		

		

Interest Expense - 12/15	
Principal Expense - 12/15	
Special Call - 3/15	
Interest Expense - 3/15	
Interest Expense - 6/15	

	
$92,033	
$115,000	
$0	
$0	
$90,768	

	
$92,033	
$115,000	
$35,000	
$289	
$0	

	
$0	
$0	
$0	
$0	
$90,768	

	
$92,033	
$115,000	
$35,000	
$289	
$90,768	

	
$90,191	
$120,000	
$0	
$0	
$88,871	

Total Expenditures	$297,801		$242,322		$90,768		$333,090		$299,061	

$0		

($945)		

$0	
	$0		($945)		$0		($945)		$0	
										
Assigned Fund Balance	$93,204		$319,750		$7,785		$327,535		$338,524	

(1) Carry forward is net of Reserve.										
									$208,871	

Land Use	
No. Units	
Gross Per Unit	
Total	
Single Family Single Family	99
80	$2,052.63
$1,526.32
Gross Assessments Less: Comm/Disc
Total Net	$203,210.37	
			$122,105.60	
			$325,315.97	
			-$16,265.80	
			$309,050.17	

Quail Roost	
Community Development District	

Amortization Schedule	
Series 2021, Special Assessment Bonds	

				

12/15/2023	$	5,330,000.00	$	120,000.00	$	90,190.63	$	210,190.63	
6/15/2024	$	5,210,000.00	$	-	$	88,870.63	$	88,870.63	
12/15/2024	$	5,210,000.00	$	120,000.00	$	88,870.63	$	208,870.63	
6/15/2025	$	5,090,000.00	$	-	$	87,550.63	$	87,550.63	
12/15/2025	$	5,090,000.00	$	125,000.00	$	87,550.63	$	212,550.63	
6/15/2026	$	4,965,000.00	$	-	$	86,175.63	$	86,175.63	
12/15/2026	$	4,965,000.00	$	125,000.00	$	86,175.63	$	211,175.63	
6/15/2027	$	4,840,000.00	$	-	$	84,800.63	$	84,800.63	
12/15/2027	$	4,840,000.00	$	130,000.00	$	84,800.63	$	214,800.63	
6/15/2028	$	4,710,000.00	$	-	$	83,045.63	$	83,045.63	
12/15/2028	$	4,710,000.00	$	135,000.00	$	83,045.63	$	218,045.63	
6/15/2029	$	4,575,000.00	$	-	$	81,223.13	$	81,223.13	
12/15/2029	$	4,575,000.00	$	135,000.00	$	81,223.13	$	216,223.13	
6/15/2030	$	4,440,000.00	$	-	$	79,400.63	$	79,400.63	
12/15/2030	$	4,440,000.00	$	140,000.00	$	79,400.63	$	219,400.63	
6/15/2031	$	4,300,000.00	$	-	$	77,510.63	$	77,510.63	
12/15/2031	$	4,300,000.00	$	145,000.00	$	77,510.63	$	222,510.63	
6/15/2032	$	4,155,000.00	$	-	$	75,553.13	$	75,553.13	
12/15/2032	$	4,155,000.00	$	150,000.00	$	75,553.13	$	225,553.13	
6/15/2033	$	4,005,000.00	$	-	$	73,209.38	$	73,209.38	
12/15/2033	$	4,005,000.00	$	155,000.00	$	73,209.38	$	228,209.38	
6/15/2034	$	3,850,000.00	$	-	$	70,787.50	$	70,787.50	
12/15/2034	$	3,850,000.00	$	160,000.00	$	70,787.50	$	230,787.50	
6/15/2035	$	3,690,000.00	$	-	$	68,287.50	$	68,287.50	
12/15/2035	$	3,690,000.00	$	165,000.00	$	68,287.50	$	233,287.50	
6/15/2036	$	3,525,000.00	$	-	$	65,709.38	$	65,709.38	
12/15/2036	$	3,525,000.00	$	170,000.00	$	65,709.38	$	235,709.38	
6/15/2037	$	3,355,000.00	$	-	$	63,053.13	$	63,053.13	
12/15/2037	$	3,355,000.00	$	175,000.00	$	63,053.13	$	238,053.13	
6/15/2038	$	3,180,000.00	$	-	$	60,318.75	$	60,318.75	
12/15/2038	$	3,180,000.00	$	180,000.00	$	60,318.75	$	240,318.75	
6/15/2039	$	3,000,000.00	$	-	$	57,506.25	$	57,506.25	
12/15/2039	$	3,000,000.00	$	185,000.00	$	57,506.25	$	242,506.25	
6/15/2040	$	2,815,000.00	$	-	$	54,615.63	$	54,615.63	
12/15/2040	$	2,815,000.00	$	190,000.00	$	54,615.63	$	244,615.63	
6/15/2041	$	2,625,000.00	$	-	$	51,646.88	$	51,646.88	
12/15/2041	$	2,625,000.00	$	195,000.00	$	51,646.88	$	246,646.88	
6/15/2042	$	2,430,000.00	$	-	$	48,600.00	$	48,600.00	
12/15/2042	$	2,430,000.00	$	205,000.00	$	48,600.00	$	253,600.00	
6/15/2043	$	2,225,000.00	$	-	$	44,500.00	$	44,500.00	
12/15/2043	$	2,225,000.00	$	210,000.00	$	44,500.00	$	254,500.00	
6/15/2044	$	2,015,000.00	$	-	$	40,300.00	$	40,300.00	
12/15/2044	$	2,015,000.00	$	220,000.00	$	40,300.00	$	260,300.00	
6/15/2045	$	1,795,000.00	$	-	$	35,900.00	$	35,900.00	
12/15/2045	$	1,795,000.00	$	230,000.00	$	35,900.00	$	265,900.00	
6/15/2046	$	1,565,000.00	$	-	$	31,300.00	$	31,300.00	
12/15/2046	$	1,565,000.00	$	235,000.00	$	31,300.00	$	266,300.00	
6/15/2047	$	1,330,000.00	$	-	$	26,600.00	$	26,600.00	
12/15/2047	$	1,330,000.00	$	245,000.00	$	26,600.00	$	271,600.00	
6/15/2048	$	1,085,000.00	$	-	$	21,700.00	$	21,700.00	
12/15/2048	$	1,085,000.00	$	255,000.00	$	21,700.00	$	276,700.00	
6/15/2049	$	830,000.00	$	-	$	16,600.00	$	16,600.00	
12/15/2049	$	830,000.00	$	265,000.00	$	16,600.00	$	281,600.00	
6/15/2050	$	565,000.00	$	-	$	11,300.00	$	11,300.00	
12/15/2050	$	565,000.00	$	275,000.00	$	11,300.00	$	286,300.00	
6/15/2051	$	290,000.00	$	-	$	5,800.00	$	5,800.00	
	12/15/2051		$	290,000.00	 $	290,000.00 	 $	5,800.00 	 $	295,800.00 	
	Total		 $	5,330,000.00 	 $	3,319,016.08 	 $	8,649,016.08