Isles of Bartram Park
Community Development District

Proposed Budget
FY2026

May 9, 2025

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	Proposed Budget	
Description	FY2025	3/31/25		6 Months		9/30/25	FY 2026	

REVENUES:						
Special Assessments - On Roll	$317,987	$313,325	$4,656	$317,981	$317,981	
Interest income	3,414	3,055	4,000	7,055	5,000	
TOTAL REVENUES	$321,401	$316,380	$8,656	$325,036	$322,981	

EXPENDITURES:						
Administrative						
Supervisor Fees	$4,000	$1,600	$2,000	$3,600	$4,000	
FICA Taxes	306	122	153	275	306	
Engineering	12,000	-	500	500	10,370	
Attorney	10,000	328	3,273	3,600	10,000	
Annual Audit	4,100	1,000	3,100	4,100	4,200	
Assessment Administration	5,618	5,618	-	5,618	5,618	
Arbitrage Rebate	1,200	600	600	1,200	1,200	
Dissemination Agent	7,866	3,933	3,933	7,866	8,259	
Trustee Fees	8,800	4,400	4,400	8,800	8,800	
Management Fees	54,694	27,347	27,347	54,694	57,429	
Information Technology	1,800	900	900	1,800	1,890	
Website Maintenance	1,200	600	600	1,200	1,260	
Telephone	150	28	22	50	150	
Postage & Delivery	500	231	210	441	500	
Insurance General Liability	12,854	12,337	-	12,337	14,167	
Printing & Binding	500	71	429	500	500	
Legal Advertising	1,265	139	861	1,000	1,265	
Other Current Charges	1,000	247	753	1,000	1,000	
Office Supplies	200	2	15	17	200	
Dues, Licenses & Subscriptions	175	175	-	175	175	
TOTAL ADMINISTRATIVE	$128,228	$59,678	$49,096	$108,774	$131,289	

Description

Adopted Budget
FY2025

Actuals	Projected	Projected Thru		Next		Thru
3/31/25		6 Months		9/30/25

Proposed Budget
FY 2026

Operations & Maintenance		
Field Expenditures		
Landscape Maintenace (Yellowstone)	$64,972	$29,979	$34,993	$64,972	$	68,894	
Lake Maintenance (First Choice Aquatics)	33,700	12,600	12,600	25,200	34,960	
Waterfall/Entry Pond Maintenance	11,500	4,612	5,388	10,000	8,860	
Lake Fountains Maintenance (First Choice Aquatics)	14,000	1,150	800	1,950	4,348	
Management	6,000	3,000	3,000	6,000	6,000	
Utilities	10,000	2,469	6,031	8,500	10,000	
General Maintenance	3,000	2,206	794	3,000	3,000	
TOTAL FIELD EXPENDITURES	$143,172	$56,017	$63,605	$119,622	$136,062	
						
TOTAL EXPENDITURES	$271,400	$115,694	$112,701	$228,396	$267,351	

Other Sources/Uses						
Capital Reserve Transfer Out	$50,000	$-	$50,000	$50,000	$	55,629	
TOTAL OTHER SOURCES/USES	$50,000	$-	$50,000	$50,000	$55,629	
						
EXCESS REVENUES (EXPENDITURES)	$-	$200,686	$(154,045)	$46,640	$-	

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.
Interest
The District earns interest on the monthly average collected balance for each of their investment 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 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	$3,244	$38,927	
Other Services	$2,067	$24,804	
Contingency	$430	$5,163	
Total	$5,741	$68,894	
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	$2,205	$26,460	
First Choice Aquatics	Triploid Grass Carp		$3,500	
	Contingency	$417	$5,000	
	Total	$2,622	$34,960	
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	$405	$4,860	
Contingency	$333	$4,000	
Total	$738	$8,860	
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		$2,748	
Total	$400	$4,348	
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.
Capital Reserve Transfer
The District has established a maintenance reserve to fund the capital projects and renewal and replacement of the District’s capital related facilities.

Proposed Budget
Debt Service Series 2015 Special Assessment Bonds

Description

Adopted Budget
FY2025

Actuals Thru	Projected Next  Projected Thru

3/31/25

	6 Months	

9/30/25

Proposed Budget
FY 2026

REVENUES:

Special Assessments-On Roll	$429,732	$423,440	$6,292	$429,732	$429,732	
Interest Earnings	12,000	11,620	10,000	21,620	15,000	
Carry Forward Surplus (1)	367,939	375,586	-	375,586	410,278	
TOTAL REVENUES	$809,671	$810,645	$16,292	$826,937	$855,010	

EXPENDITURES:						
Interest - 11/1	$139,934	$139,806	$-	$139,806	$136,728	
Special Call - 11/1	$-	-	-	-	$-	
Principal - 11/1	135,000	135,000	-	135,000	140,000	
Interest - 5/1	136,981	-	136,853	136,853	133,666	
Special Call - 5/1	-	-	5,000	5,000	-	
TOTAL EXPENDITURES	$411,916	$274,806	$141,853	$416,659	$410,394	

Other Sources/(Uses)						

Interfund transfer In/(Out)	
$-	
$-	
-	
-	
$-	
TOTAL OTHER SOURCES/(USES)	$-	$-	$-	$-	$-	

TOTAL EXPENDITURES

$411,916	$274,806	$141,853

$416,659	$410,394

EXCESS REVENUES (EXPENDITURES)	$397,756	$535,839	$(125,561)	$410,278	$444,617	

(1) Carry Forward is Net of Reserve Requirement	
Interest Due 11/1/26	
$133,665.63	
	Principal Due 11/1/26	$160,000.00	
		$293,665.63	

Community Development District	Series 2015, Special Assessment Bonds	
Date	Balance	Principal	Interest	Annual	
					
11/1/25	5,405,000	140,000	136,728	276,728	
5/1/26	5,265,000	-	133,666	-	
11/1/26	5,265,000	160,000	133,666	427,331	
5/1/27	5,105,000	-	129,666	-	
11/1/27	5,105,000	165,000	129,666	424,331	
5/1/28	4,940,000	-	125,541	-	
11/1/28	4,940,000	175,000	125,541	426,081	
5/1/29	4,765,000	-	121,166	-	
11/1/29	4,765,000	185,000	121,166	427,331	
5/1/30	4,580,000	-	116,541	-	
11/1/30	4,580,000	195,000	116,541	428,081	
5/1/31	4,385,000	-	111,666	-	
11/1/31	4,385,000	200,000	111,666	423,331	
5/1/32	4,185,000	-	106,666	-	
11/1/32	4,185,000	215,000	106,666	428,331	
5/1/33	3,970,000	-	101,291	-	
11/1/33	3,970,000	225,000	101,291	427,581	
5/1/34	3,745,000	-	95,666	-	
11/1/34	3,745,000	235,000	95,666	426,331	
5/1/35	3,510,000	-	89,791	-	
11/1/35	3,510,000	245,000	89,791	424,581	
5/1/36	3,265,000	-	83,666	-	
11/1/36	3,265,000	260,000	83,666	427,331	
5/1/37	3,005,000	-	77,003	-	
11/1/37	3,005,000	270,000	77,003	424,006	
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		$ 5,405,000	$ 3,388,909	$ 8,793,909	

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

Description

Adopted Budget
FY2025

Actuals Thru	Projected Next  Projected Thru

3/31/25

	6 Months	

9/30/25

Proposed Budget
FY 2026

REVENUES:

Special Assessments-On Roll

$364,708

$359,388

$5,320

$364,708

$364,708

Interest Earnings	10,000	9,792	10,000	19,792	15,000
Carry Forward Surplus (1)	323,485	329,155	-	329,155	371,336

TOTAL REVENUES

$698,193	$698,335

$15,320

$713,655	$751,044

EXPENDITURES:

Interest - 11/1

$112,309

$112,309

$-	$112,309

$109,884

Principal - 11/1	115,000	115,000	-	115,000	115,000
Interest - 5/1	110,009	-	110,009	110,009	107,584
Special Call - 5/1	-	-	5,000	5,000	-

TOTAL EXPENDITURES

$337,319	$227,309	$115,009

$342,318	$332,469

Other Sources/(Uses)

Interfund transfer In/(Out)

$-	$-	$-

$-	$-

TOTAL OTHER SOURCES/(USES)

$-

$-

$-

$-

$-

TOTAL EXPENDITURES

$337,319	$227,309	$115,009

$342,318	$332,469

EXCESS REVENUES (EXPENDITURES)	$360,874	$471,025	$(99,689)	$371,336	$418,575	

(1) Carry Forward is Net of Reserve Requirement	
Interest Due 11/1/26	
$107,584.38	
	Principal Due 11/1/26	$120,000.00	
		  $227,584.38 	

Community Development District	Series 2017, Special Assessment Bonds	
Date	Balance	Principal	Interest	Annual	
					
11/1/25	4,590,000	115,000	109,884	224,884	
5/1/26	4,475,000		107,584	-	
11/1/26	4,475,000	120,000	107,584	335,169	
5/1/27	4,355,000		105,184	-	
11/1/27	4,355,000	125,000	105,184	335,369	
5/1/28	4,230,000		102,684	-	
11/1/28	4,230,000	130,000	102,684	335,369	
5/1/29	4,100,000		99,678	-	
11/1/29	4,100,000	140,000	99,678	339,356	
5/1/30	3,960,000		96,441	-	
11/1/30	3,960,000	145,000	96,441	337,881	
5/1/31	3,815,000		93,088	-	
11/1/31	3,815,000	150,000	93,088	336,175	
5/1/32	3,665,000		89,619	-	
11/1/32	3,665,000	160,000	89,619	339,238	
5/1/33	3,505,000		85,919	-	
11/1/33	3,505,000	165,000	85,919	336,838	
5/1/34	3,340,000		82,103	-	
11/1/34	3,340,000	175,000	82,103	339,206	
5/1/35	3,165,000		78,056	-	
11/1/35	3,165,000	180,000	78,056	336,113	
5/1/36	2,985,000		73,894	-	
11/1/36	2,985,000	190,000	73,894	337,788	
5/1/37	2,795,000		69,500	-	
11/1/37	2,795,000	200,000	69,500	339,000	
5/1/38	2,595,000		64,875	-	
11/1/38	2,595,000	205,000	64,875	334,750	
5/1/39	2,390,000		59,750	-	
11/1/39	2,390,000	215,000	59,750	334,500	
5/1/40	2,175,000		54,375	-	
11/1/40	2,175,000	230,000	54,375	338,750	
5/1/41	1,945,000		48,625	-	
11/1/41	1,945,000	240,000	48,625	337,250	
5/1/42	1,705,000		42,625	-	
11/1/42	1,705,000	250,000	42,625	335,250	
5/1/43	1,455,000		36,375	-	
11/1/43	1,455,000	265,000	36,375	337,750	
5/1/44	1,190,000		29,750	-	
11/1/44	1,190,000	275,000	29,750	334,500	
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		$ 4,590,000	$ 3,043,134	$ 7,633,134	

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

Description

Adopted Budget
FY2025

Actuals Thru	Projected Next Projected Thru

3/31/25

	6 Months	

9/30/25

Proposed Budget
FY 2026

REVENUES:

Capital Reserve Transfer In	$50,000	$-	$50,000	$50,000	$55,629	
Interest Income	-	1,206	1,200	2,406	1,500	
Carry Forward Balance	50,923	92,361	-	92,361	144,767	
TOTAL REVENUES	$100,923	$93,567	$51,200	$144,767	$201,896	

EXPENDITURES:						
Capital Outlay	$-	$-	$-	$-	$-	
Repair and Maintenance	-	-	-	-	10,000	
Other Current Charges	-	-	-	-	-	
TOTAL EXPENDITURES	$-	$-	$-	$-	$10,000	

Other Sources/Uses						
Transfer In/(Out)	$-	$-	$-	$-	$-	
TOTAL OTHER SOURCES/(USES)	$-	$-	$-	$-	$-	
						
EXCESS REVENUES (EXPENDITURES)	$100,923	$93,567	$51,200	$144,767	$191,896	

Isles of Bartram Park
Community Development District
Non-Ad Valorem Assessments Comparison 2025-2026

Neighbo rhood	O&M Units	Bonds Unit
2015	Bonds Units
2017	
Annual Maintenance Assessments	
Annual Debt Assessments	
Total Assessed Per Unit	
	
FY 2026	
FY2025	Increase/ (decrease)	
FY 2026	
FY2025	Increase/ (decrease)	
FY 2026	
FY2025	Increase/ (decrease)	
							Series 2015 Series 2017	Series 2015	Series 2017	Total	Series 2015 Series 2017	Series 2015	Series 2017	Total	

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