Isles of Bartram Park
Community Development District

Adopted Budget
FY2025

August 6, 2024

Table of Contents

1-2		General Fund

3-4		Narratives

5-6		Debt Service Fund Series 2015

	Debt Service Fund Series 2017

	Capital Reserve Fund

	Assessment Schedule

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2024	6/30/24		3 Months		9/30/24	FY 2025	

REVENUES:						
Special Assessments - On Roll	$	287,013	$288,844	$-	$288,844	$317,987	
Interest income	3,414	-	450	450	3,414	
Carry Forward Surplus	-	-	-	-	-	
TOTAL REVENUES	$290,427	$288,844	$450	$289,294	$321,401	

EXPENDITURES:						
Administrative						
Supervisor Fees	$4,000	$2,400	$800	$3,200	$4,000	
FICA Taxes	306	184	61	245	306	
Engineering	6,000	113	1,000	1,113	12,000	
Attorney	10,000	2,204	2,797	5,000	10,000	
Annual Audit	4,000	4,000	-	4,000	4,100	
Assessment Administration	5,300	5,300	-	5,300	5,618	
Arbitrage Rebate	1,200	600	600	1,200	1,200	
Dissemination Agent	7,420	5,565	1,855	7,420	7,866	
Trustee Fees	8,000	4,400	4,400	8,800	8,800	
Management Fees	51,597	38,698	12,899	51,597	54,694	
Information Technology	1,600	1,200	400	1,600	1,800	
Website Maintenance	1,075	806	269	1,075	1,200	
Telephone	150	14	36	50	150	
Postage & Delivery	500	270	484	754	500	
Insurance General Liability	11,786	11,564	-	11,564	12,854	
Printing & Binding	1,000	156	673	829	500	
Legal Advertising	1,265	372	428	800	1,265	
Other Current Charges	1,000	206	794	1,000	1,000	
Office Supplies	200	9	15	24	200	
Dues, Licenses & Subscriptions	175	175	-	175	175	
TOTAL ADMINISTRATIVE	$116,574	$78,234	$27,511	$105,745	$128,228	

Description

Adopted Budget
FY2024

Actuals	Projected	Projected Thru		Next		Thru
6/30/24		3 Months		9/30/24

Adopted Budget
FY 2025

Operations & Maintenance		
Field Expenditures		
Landscape Maintenace (Yellowstone)	$	60,553	$47,852	$12,702	$60,553	$	64,972	
Lake Maintenance (First Choice Aquatics)	25,800	20,980	6,300	27,280	33,700	
Waterfall/Entry Pond Maintenance	11,500	6,296	2,100	8,396	11,500	
Lake Fountains Maintenance (First Coast Aquatics)	7,000	13,639	400	14,039	14,000	
Management	6,000	4,500	1,500	6,000	6,000	
Utilities	11,000	5,138	3,862	9,000	10,000	
General Maintenance	2,000	6,467	-	6,467	3,000	
TOTAL FIELD EXPENDITURES	$123,853	$104,872	$26,863	$131,735	$143,172	
						
TOTAL EXPENDITURES	$240,427	$183,106	$54,375	$237,481	$271,400	

Other Sources/Uses						
Capital Reserve Transfer Out	$	50,000	$50,000	$-	$50,000	$	50,000	
TOTAL OTHER SOURCES/USES	$50,000	$50,000	$-	$50,000	$50,000	
						
EXCESS REVENUES (EXPENDITURES)	$-	$55,738	$(53,925)	$1,813	$0	

REVENUES

Special Assessments-Tax Roll
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.

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 4 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
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 assignments.
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.
Assessment Roll Administration
GMS, LLC provides assessment services for closing lot sales, assessment roll services with the local Tax Collector and financial advisory services.
Arbitrage Rebate
The District is required to annually have an arbitrage rebate calculation on the District’s Series 2015 & 2017 Special Assessment Revenue Bonds. The District will contract with an Independent Certified Accounting Firm to calculate the rebate liability and submit a report to the District.
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 LLC. The budgeted amount for the fiscal year is based on the contracted fees outlined in Exhibit "A" of the Management Agreement.
Information Technology
The District processes all of its financial activities, i.e. accounts payable, financial statements, etc. on a main frame computer leased by Governmental Management Services, LLC.
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, LLC and updated monthly.
Communication - Telephone
Phone, internet, and Wi-Fi service for Office.
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 estimated premiums.
Printing and Binding
Copies used in the preparation of agenda packages, required mailings, and other special projects.

Expenditures - Administrative (continued)

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

Landscape Maintenance
The District has contracted with a Yellowstone Landscape to provide landscaping and irrigation maintenance services to all the common areas within the District. Other services include annual and plant rotation and mulch installation.
Contract	Monthy	Annual	
YellowStone Landscape	$2,917	$35,005	
Other Services	$2,067	$24,804	
Contingency	$430	$5,163	
Total	$5,414	$64,972	
Lake Maintenance
The District has contracted with vendor First Choice Aquatics to provide monthly water management services to all the lakes throughout the District and carp restocking.
Contract	Description	Monthy	Annual	
First Choice Aquatics	Lake Maintenance	$2,100	$25,200	
First Choice Aquatics	Triploid Grass Carp		$3,500	
	Contingency	$417	$5,000	
	Total	$2,517	$33,700	
Waterfall/Pond Entry Maintenance
The District has contracted with Innovative Fountain Services to provide maintenance services to waterfalls and pond at community entrance.
Contract	Monthy	Annual	
Innovative Fountain SV	$245	$2,940	
Crystal Clean	$450	$5,400	
Contingency	$263	$3,160	
Total	$958	$11,500	
Lake Fountains Maintenance
The District has contracted with First Choice Aquatics to provide fountain maintenance for the four fountains within the District.
Contract	Quarterly	Annual	
First Choice Aquatic	$400	$1,600	
Contingency	$1,033	$12,400	
Total	$1,433	$14,000	
Management Company
The District has contracted with Vesta Property Services, Inc. to provide supervision and on-site management services for the District.
Contract	Monthy	Annual	
Vesta	$500	$6,000	
Utilities
Estimated cost for electric, irrigation and water provided by utility company. Also includes cost share for reimbursement of JEA irrigation to Celestina Master HOA.
General Maintenance
Estimated cost for general maintenance services of the district.

Adopted Budget
Debt Service Series 2015 Special Assessment Bonds

Description

Adopted Budget
FY2024

Actuals Thru	Projected Next  Projected Thru

6/30/24

	3 Months	

9/30/24

Adopted Budget
FY 2025

REVENUES:

Special Assessments-On Roll	$429,732	$432,473	$(2,740)	$429,732	$429,732	
Interest Earnings	7,500	17,411	7,479	24,890	12,000	
Carry Forward Surplus (1)	325,019	330,901	-	330,901	367,939	
TOTAL REVENUES	$762,251	$780,785	$4,739	$785,523	$809,671	

EXPENDITURES:

Interest - 11/1	$142,778	$142,778	$-	$142,778	$139,934	
Special Call - 11/1	$-	5,000	-	5,000	$-	
Principal - 11/1	130,000	130,000	-	130,000	135,000	
Interest - 5/1	139,934	139,806	-	139,806	136,981	
TOTAL EXPENDITURES	$412,713	$417,584	$-	$417,584	$411,916	

Other Sources/(Uses)

Interfund transfer In/(Out)	$-	$-	-	-	$-	
TOTAL OTHER SOURCES/(USES)	$-	$-	$-	$-	$-	
						
TOTAL EXPENDITURES	$412,713	$417,584	$-	$417,584	$411,916	
						
EXCESS REVENUES (EXPENDITURES)	$349,539	$363,200	$4,739	$367,939	$397,756	

(1) Carry Forward is Net of Reserve Requirement	
Interest Due 11/1/25	
$136,981.25	
	Principal Due 11/1/25	$140,000.00	
		$276,981.25	

Community Development District	Series 2015, Special Assessment Bonds

Date	Balance	Principal	Interest	Annual

11/1/24	5,550,000	135,000	139,934	274,934	
5/1/25	5,415,000	-	136,981	-	
11/1/25	5,415,000	140,000	136,981	413,963	
5/1/26	5,275,000	-	133,919	-	
11/1/26	5,275,000	160,000	133,919	427,838	
5/1/27	5,115,000	-	129,919	-	
11/1/27	5,115,000	165,000	129,919	424,838	
5/1/28	4,950,000	-	125,794	-	
11/1/28	4,950,000	175,000	125,794	426,588	
5/1/29	4,775,000	-	121,419	-	
11/1/29	4,775,000	185,000	121,419	427,838	
5/1/30	4,590,000	-	116,794	-	
11/1/30	4,590,000	195,000	116,794	428,588	
5/1/31	4,395,000	-	111,919	-	
11/1/31	4,395,000	205,000	111,919	428,838	
5/1/32	4,190,000	-	106,794	-	
11/1/32	4,190,000	215,000	106,794	428,588	
5/1/33	3,975,000	-	101,419	-	
11/1/33	3,975,000	225,000	101,419	427,838	
5/1/34	3,750,000	-	95,794	-	
11/1/34	3,750,000	235,000	95,794	426,588	
5/1/35	3,515,000	-	89,919	-	
11/1/35	3,515,000	245,000	89,919	424,838	
5/1/36	3,270,000	-	83,794	-	
11/1/36	3,270,000	260,000	83,794	427,588	
5/1/37	3,010,000	-	77,131	-	
11/1/37	3,010,000	275,000	77,131	429,263	
5/1/38	2,735,000	-	70,084	-	
11/1/38	2,735,000	285,000	70,084	425,169	
5/1/39	2,450,000	-	62,781	-	
11/1/39	2,450,000	300,000	62,781	425,563	
5/1/40	2,150,000	-	55,094	-	
11/1/40	2,150,000	315,000	55,094	425,188	
5/1/41	1,835,000	-	47,022	-	
11/1/41	1,835,000	330,000	47,022	424,044	
5/1/42	1,505,000	-	38,566	-	
11/1/42	1,505,000	350,000	38,566	427,131	
5/1/43	1,155,000	-	29,597	-	
11/1/43	1,155,000	365,000	29,597	424,194	
5/1/44	790,000	-	20,244	-	
11/1/44	790,000	385,000	20,244	425,488	
5/1/45	405,000	-	10,378	-	
11/1/45	405,000	405,000	10,378	425,756	
Totals		$ 5,550,000	$ 3,670,653	$ 9,220,653	

Community Development District
Adopted Budget
Debt Service Series 2017 Special Assessment Bonds

Description

Adopted Budget
FY2024

Actuals Thru	Projected Next  Projected Thru

6/30/24

	3 Months	

9/30/24

Adopted Budget
FY 2025

REVENUES:

Special Assessments-On Roll	$364,728	$367,054	$-	$367,054	$364,708	
Interest Earnings	6,800	14,252	4,753	19,005	10,000	
Carry Forward Surplus (1)	273,464	279,370	-	279,370	323,485	
TOTAL REVENUES	$644,992	$660,676	$4,753	$665,429	$698,193	

EXPENDITURES:

Interest - 11/1	$114,634	$114,634	$-	$114,634	$112,434	
Principal - 11/1	110,000	110,000	-	110,000	115,000	
Special Call - 11/1	-	5,000	-	5,000	-	
Interest - 5/1	112,434	112,309	-	112,309	110,134	
TOTAL EXPENDITURES	$337,068	$341,944	$-	$341,944	$337,569	

Other Sources/(Uses)

Interfund transfer In/(Out)	$-	$-	$-	$-	$-	
TOTAL OTHER SOURCES/(USES)	$-	$-	$-	$-	$-	
						
TOTAL EXPENDITURES	$337,068	$341,944	$-	$341,944	$337,569	
						
EXCESS REVENUES (EXPENDITURES)	$307,923	$318,732	$4,753	$323,485	$360,624	

(1) Carry Forward is Net of Reserve Requirement	
Interest Due 11/1/25	
$110,134.38	
	Principal Due 11/1/25	$115,000.00	
		  $225,134.38 	

Community Development District	Series 2017, Special Assessment Bonds

Date	Balance	Principal	Interest	Annual

11/1/24	4,715,000	115,000	112,434	227,434	
5/1/25	4,600,000		110,134	-	
11/1/25	4,600,000	115,000	110,134	335,269	
5/1/26	4,485,000		107,834	-	
11/1/26	4,485,000	120,000	107,834	335,669	
5/1/27	4,365,000		105,434	-	
11/1/27	4,365,000	125,000	105,434	335,869	
5/1/28	4,240,000		102,934	-	
11/1/28	4,240,000	130,000	102,934	335,869	
5/1/29	4,110,000		99,928	-	
11/1/29	4,110,000	140,000	99,928	339,856	
5/1/30	3,970,000		96,691	-	
11/1/30	3,970,000	145,000	96,691	338,381	
5/1/31	3,825,000		93,338	-	
11/1/31	3,825,000	150,000	93,338	336,675	
5/1/32	3,675,000		89,869	-	
11/1/32	3,675,000	160,000	89,869	339,738	
5/1/33	3,515,000		86,169	-	
11/1/33	3,515,000	165,000	86,169	337,338	
5/1/34	3,350,000		82,353	-	
11/1/34	3,350,000	175,000	82,353	339,706	
5/1/35	3,175,000		78,306	-	
11/1/35	3,175,000	180,000	78,306	336,613	
5/1/36	2,995,000		74,144	-	
11/1/36	2,995,000	190,000	74,144	338,288	
5/1/37	2,805,000		69,750	-	
11/1/37	2,805,000	200,000	69,750	339,500	
5/1/38	2,605,000		65,125	-	
11/1/38	2,605,000	205,000	65,125	335,250	
5/1/39	2,400,000		60,000	-	
11/1/39	2,400,000	220,000	60,000	340,000	
5/1/40	2,180,000		54,500	-	
11/1/40	2,180,000	230,000	54,500	339,000	
5/1/41	1,950,000		48,750	-	
11/1/41	1,950,000	240,000	48,750	337,500	
5/1/42	1,710,000		42,750	-	
11/1/42	1,710,000	250,000	42,750	335,500	
5/1/43	1,460,000		36,500	-	
11/1/43	1,460,000	265,000	36,500	338,000	
5/1/44	1,195,000		29,875	-	
11/1/44	1,195,000	280,000	29,875	339,750	
5/1/45	915,000		22,875	-	
11/1/45	915,000	290,000	22,875	335,750	
5/1/46	625,000		15,625	-	
11/1/46	625,000	305,000	15,625	336,250	
5/1/47	320,000		8,000	-	
11/1/47	320,000	320,000	8,000	336,000	
Totals		$ 4,715,000	$ 3,274,203	$ 7,989,203	

Isles of Bartram Park
Community Development District
Adopted Budget Capital Reserve Fund

Description

Adopted Budget
FY2024

Actuals Thru	Projected Next Projected Thru

6/30/24

	3 Months	

9/30/24

Adopted Budget
FY 2025

REVENUES:

Capital Reserve Transfer In	$50,000	$50,000	$-	$50,000	$50,000	
Interest Income	-	233	690	923	-	
Carry Forward Balance	50,000	-	-	-	50,923	
TOTAL REVENUES	$100,000	$50,233	$690	$50,923	$100,923	

EXPENDITURES:						
Capital Outlay	$-	$-	$-	$-	$-	
Repair and Maintenance	-	-	-	-	-	
Other Current Charges	-	-	-	-	-	
TOTAL EXPENDITURES	$-	$-	$-	$-	$-	

Other Sources/Uses						
Transfer In/(Out)	$-	$-	$-	$-	$-	
TOTAL OTHER SOURCES/(USES)	$-	$-	$-	$-	$-	
						
EXCESS REVENUES (EXPENDITURES)	$100,000	$50,233	$690	$50,923	$100,923	

Isles of Bartram Park
Community Development District
Non-Ad Valorem Assessments Comparison 2024-2025

Neighbo rhood	O&M Units	Bonds Unit
2015	Bonds Units
2017	
Annual Maintenance Assessments	
Annual Debt Assessments	Total Assessed Per Unit	
	
FY 2025	
FY2024	Increase/ (decrease)	
FY 2025	
FY2024	
FY 2025	
FY2024	
							Series 2015 Series 2017	Series 2015	Series 2017	Series 2015 Series 2017	Series 2015	Series 2017	

68'	
219	
126	
90	
$533	
$481	
$52	
$1,205	
$1,205	
$1,205	
$1,205	
$1,738	
$1,738	
$1,686	
$1,686	
73'	202	106	91	$533	$481	$52	$1,388	$1,389	$1,388	$1,389	$1,921	$1,922	$1,869	$1,870	
83'	178	88	87	$533	$481	$52	$1,458	$1,458	$1,458	$1,458	$1,991	$1,991	$1,939	$1,939	
83'	0	0	1	$533	$481	$52	$0	$1,165	$0	$1,165	$533	$1,698	$481	$1,646	
90'	36	19	16	$533	$481	$52	$1,572	$1,572	$1,572	$1,572	$2,105	$2,104	$2,053	$2,052	
Total	635	339	285