Candler Hills East
Community Development District

Proposed Budget
FY 2027

Table of Contents

1

2-4

5

6

7

General Fund

General Fund Narrative

Debt Service Fund - Series 2016

Amortization Schedule - Series 2016

Capital Reserves Fund

Candler Hills East
Community Development District Proposed Budget
General Fund

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2026	3/31/26	6 Months	9/30/26	FY2027	

Revenues						
Maintenance Assessments	$	55,051	$	53,070	$	1,981	$	55,051	$	55,360	
Interest	$	-	$	845	$	422	$	1,267	$	-	
Carry Forward Surplus	$	14,135	$	53,556	$	-	$	53,556	$	21,403	
Total Revenues	$	69,186	$	107,470	$	2,404	$	109,874	$	76,763	

Expenditures						
General & Administrative						
Supervisor Fees	$	4,000	$	1,800	$	3,000	$	4,800	$	4,000	
FICA Expenditure	$	306	$	138	$	230	$	367	$	306	
Engineering	$	4,000	$	-	$	2,000	$	2,000	$	10,000	
Trustee Fees	$	2,255	$	2,110	$	145	$	2,255	$	2,255	
Dissemination	$	2,866	$	1,533	$	1,434	$	2,967	$	3,009	
Arbitrage	$	450	$	450	$	-	$	450	$	450	
Assessment Administration	$	5,732	$	5,732	$	-	$	5,732	$	6,019	
Attorney	$	6,500	$	3,000	$	3,500	$	6,500	$	6,500	
Annual Audit	$	3,300	$	3,300	$	-	$	3,300	$	3,400	
Management Fees	$	10,131	$	5,066	$	5,064	$	10,130	$	10,638	
Information Technology	$	1,082	$	541	$	540	$	1,081	$	1,136	
Website Maintenance	$	812	$	406	$	408	$	814	$	853	
Telephone	$	50	$	-	$	50	$	50	$	50	
Postage	$	625	$	178	$	313	$	491	$	625	
Printing & Binding	$	250	$	99	$	100	$	199	$	250	
Insurance	$	7,425	$	7,155	$	-	$	7,155	$	7,871	
Legal Advertising	$	700	$	-	$	700	$	700	$	700	
Other Current Charges	$	860	$	329	$	468	$	797	$	860	
Office Supplies	$	150	$	1	$	50	$	51	$	150	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total General & Administrative:	$	51,669	$	32,013	$	18,001	$	50,014	$	59,246	

Operations & Maintenance						
Mulch	$	7,920	$	-	$	7,920	$	7,920	$	7,920	
Contingency	$	3,097	$	-	$	1,549	$	1,549	$	3,097	
Stormwater	$	6,500	$	-	$	3,250	$	3,250	$	6,500	
Total Operations & Maintenance:	$	17,517	$	-	$	12,719	$	12,719	$	17,517	
						
Total Expenditures	$	69,186	$	32,013	$	30,719	$	62,733	$	76,763	
						
Excess Revenues/(Expenditures)	$	-	$	75,457	$	(28,316)	$	47,142	$	-	

	FY2023	FY2024	FY2025	FY2026	FY2027	
Net Assessments	$55,051	$55,051	$55,051	$55,051	$55,360	
Discounts & Collections (6%)	$3,514	$3,514	$3,514	$3,514	$3,534	
Gross Assessments	$58,565	$58,565	$58,565	$58,565	$58,894	

Total Units	
628	
628	
628	
628	
631.50	
Assessments per Unit	$93.26	$93.26	$93.26	$93.26	$93.26	

Candler Hills East
Community Development District
General Fund Budget

Revenues:

Maintenance Assessments

The District will levy a non-ad valorem special assessment on all taxable property within the District, to fund all General Operating and Maintenance Expenditures for the Fiscal Year.

Interest

The District receives interest earnings from its cash balance in the Truist operating account.

Carry Forward

Represents amount used to offset the District’s fiscal year expenditure.

Expenditures:

Administrative:

Supervisor Fees

The Florida Statutes allows each board member to receive $200 per meeting not to exceed $4,800 in one year. This amount is based on 5 Supervisors attending 4 monthly meetings.

FICA Expenditure

Represents the Employer's share of Social Security and Medicare taxes withheld from Board of Supervisors checks.

Engineering

The District’s engineer, Dewberry Engineers, Inc., will be providing general engineering services to the District, e.g., attendance and preparation for monthly meetings, reviewing invoices, and various projects assigned as directed by the Board of Supervisors. The District currently has an agreement with Dewberry Engineers, Inc.

Trustee Fees

The District issued Series 2016 Special Assessment Refunding Bonds that are administered by a Trustee at US Bank.
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. Governmental Management Services – CF, LLC is contracted for this service.

Arbitrage

The District has contracted with AMTEC to annually calculate the District’s Arbitrage Rebate Liability on the Series 2016 Special Assessment Refunding Bonds.

Candler Hills East
Community Development District
General Fund Budget

Assessment Administration

Governmental Management Services – Central Florida, LLC serves as the District’s collection agent and certifies the District’s non-ad valorem assessments with the Marion County Tax Collector’s Office.

Attorney

The District’s legal counsel, Colen and Wagoner P. A., provides general legal services to the District, i.e., attendance and preparation for monthly meetings, review operating and maintenance contracts, etc. as directed by the Board of Supervisors and the District Manager.

Annual Audit

The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm. The District has contracted with Grau & Associates for this service.

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 reporting, annual audits, etc.

Information Technology

Represents various cost of information technology 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.
Governmental Management Services-Central Florida, LLC, provides these services.

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. Governmental Management Services-Central Florida, LLC, provides these services.

Telephone

Represents cost for telephone and fax machine.

Postage

Mailing of Board Meeting agenda packages, overnight deliveries, checks for vendors and any other required correspondence.

Printing & Binding

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

Candler Hills East
Community Development District
General Fund Budget

Insurance

The District’s general liability & public officials liability insurance policy is with Florida Insurance Alliance. The Florida Insurance Alliance specializes in providing insurance coverage to governmental agencies.

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 are incurred during the year.

Office Supplies

The District incurs charges for supplies that need to be purchased during the fiscal year, including copier and printer toner cartridges, paper, file folders, binders, pens, paper clips, and other such office supplies.

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.

Maintenance:

Mulch

Represents costs related to mulch installed in the District.

Contingency

To record the cost of any maintenance expenses not properly classified in any of the other accounts.

Stormwater

Represent cost for stormwater expenses in the District.

Candler Hills East
Community Development District Proposed Budget
Debt Service Fund Series 2016

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2026	3/31/26	6 Months	9/30/26	FY2027	

Revenues						
Assessments - Tax Roll	$	206,154	$	193,293	$	12,861	$	206,154	$	200,467	
Assessments - Prepayments	$	-	$	9,009	$	-	$	9,009	$	-	
Interest Income	$	7,422	$	6,872	$	1,718	$	8,591	$	4,295	
Carry Forward Surplus	$	274,654	$	282,761	$	-	$	282,761	$	263,107	
Total Revenues	$	488,230	$	491,934	$	14,579	$	506,514	$	467,869	

Expenditures						
General & Administrative:						
Special Call - 11/1	$	-	$	25,000	$	-	$	25,000	$	-	
Interest - 11/1	$	36,944	$	36,944	$	-	$	36,944	$	33,725	
Principal - 5/1	$	130,000	$	-	$	130,000	$	130,000	$	130,000	
Special Call - 5/1	$	-	$	-	$	15,000	$	15,000	$	-	
Interest - 5/1	$	36,944	$	-	$	36,463	$	36,463	$	33,725	
Total Expenditures	$	203,888	$	61,944	$	181,463	$	243,406	$	197,450	
						
Excess Revenues/(Expenditures)	$	284,342	$	429,990	$	(166,883)	$	263,107	$	270,419	

Interest - Nov 1, 2027  $	31,288 

Net Assessments	$200,467 Discounts & Collections (6%) 		$12,796 
Gross Assessments	$213,263
Total Units	387.75
Assessments per Unit 	$550 

Candler Hills East Community Development District Series 2016 Special Assessment Bonds
Amortization Schedule

Date		Balance		Prinicpal		Interest		Total	
									
11/01/26	$	1,730,000.00	$	-	$	33,725.00			
05/01/27	$	1,730,000.00	$	130,000.00	$	33,725.00	$	197,450.00	
11/01/27	$	1,600,000.00	$	-	$	31,287.50			
05/01/28	$	1,600,000.00	$	135,000.00	$	31,287.50	$	197,575.00	
11/01/28	$	1,465,000.00	$	-	$	28,756.25			
05/01/29	$	1,465,000.00	$	140,000.00	$	28,756.25	$	197,512.50	
11/01/29	$	1,325,000.00	$	-	$	26,131.25			
05/01/30	$	1,325,000.00	$	145,000.00	$	26,131.25	$	197,262.50	
11/01/30	$	1,180,000.00	$	-	$	23,412.50			
05/01/31	$	1,180,000.00	$	150,000.00	$	23,412.50	$	196,825.00	
11/01/31	$	1,030,000.00	$	-	$	20,600.00			
05/01/32	$	1,030,000.00	$	155,000.00	$	20,600.00	$	196,200.00	
11/01/32	$	875,000.00	$	-	$	17,500.00			
05/01/33	$	875,000.00	$	160,000.00	$	17,500.00	$	195,000.00	
11/01/33	$	715,000.00	$	-	$	14,300.00			
05/01/34	$	715,000.00	$	170,000.00	$	14,300.00	$	198,600.00	
11/01/34	$	545,000.00	$	-	$	10,900.00			
05/01/35	$	545,000.00	$	175,000.00	$	10,900.00	$	196,800.00	
11/01/35	$	370,000.00	$	-	$	7,400.00			
05/01/36	$	370,000.00	$	180,000.00	$	7,400.00	$	194,800.00	
11/01/36	$	190,000.00	$	-	$	3,800.00			
05/01/37	$	190,000.00	$	190,000.00	$	3,800.00	$	197,600.00	
			$	1,730,000.00	$	435,625.00	$	2,165,625.00	

Candler Hills East
Community Development District Proposed Budget
Capital Reserves Fund

Description	Adopted Budget
FY2026	Actuals Thru
3/31/26	Projected Next
6 Months	Projected Thru
9/30/26	Proposed Budget
FY2027	

Revenues						
Interest Income
Carry Forward Surplus	$	3,914
$	185,918	$	3,745
$	186,420	$	936
$	-	$	4,682
$	186,420	$	2,341
$	191,101	
Total Revenues	$	189,831	$	190,165	$	936	$	191,101	$	193,442	

Expenditures						

Capital Outlay	
$	
-	
$	
-	
$	
-	
$	
-	
$	
-	
Total Expenditures	$	-	$	-	$	-	$	-	$	-	

Excess Revenues/(Expenditures)	$	189,831	$	190,165	$	936	$	191,101	$	193,442