Eureka Grove	
Community Development District	

Adopted Budget	
FY 2025	

Table of Contents

	General Fund

	Narratives

	Debt Service Fund Series 2021

	Amortization Schedule

	Assessment Schedule

Eureka Grove	
Community Development District	
Adopted Budget	
General Fund	

Adopted Budget	
Actuals Thru	
Projected Next	
Projected Thru	Adopted Budget	
Description	FY2024	4/30/24	5 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments - On Roll	$	63,001	$	63,217	$	-	$	63,217	$	63,001	
Interest income	-	-	-	-	500	

TOTAL REVENUES	$	63,001	$	63,217	$	-	$	63,217	$	63,501	

EXPENDITURES:

Administrative						
Engineering	$	2,000	$	930	$	1,070	$	2,000	$	2,000	
Attorney	12,000	4,518	7,483	12,000	12,000	
Annual Audit	5,300	5,300	-	5,300	5,400	
Assessment Administration	1,000	1,000	-	1,000	1,000	
Dissemination Agent	1,500	875	625	1,500	1,575	
Trustee Fees	5,675	4,041	-	4,041	4,500	
Management Fees	25,200	14,700	10,500	25,200	26,460	
Website Maintenance	1,000	583	417	1,000	1,050	
Postage & Delivery	395	43	352	395	100	
Insurance General Liability	6,114	6,076	38	6,114	6,987	
Printing & Binding	300	1	299	300	100	
Legal Advertising	1,000	-	1,000	1,000	1,000	
Other Current Charges	1,342	56	3,136	3,192	1,153	
Dues, Licenses & Subscriptions	175	175	-	175	175	

TOTAL EXPENDITURES	$	63,001	$	38,297	$	24,919	$	63,217	$	63,501	

EXCESS REVENUES (EXPENDITURES)	$	-	$	24,920	$	(24,919)	$	-	$	-	

Eureka Grove	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

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	

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 SF, LLC provides assessment services for closing lot sales, assessment roll services with the local Tax Collector and financial advisory services.	
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-South Florida, LLC. The budgeted amount for the fiscal year is based on the contracted fees outlined in Exhibit "A" of the Management Agreement.	
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-SF, LLC and updated monthly.	
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 similar Community Development Districts.	
Printing and Binding	
Copies used in the preparation of agenda packages, required mailings, and other special projects.	
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.	
Due, Licenses & Subscriptions	
The District is required to pay an annual fee to Florida Department of Commerce for $175.	

Eureka Grove	
Community Development District	
Adopted Budget	
Debt Service Series 2021 Special Assessment Bonds	

Adopted Budget	
Actuals Thru	
Projected Next	
Projected Thru	Adopted Budget	
Description	FY2024	4/30/24	5 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments-On Roll	$	162,000	$	162,556	$	-	$	162,556	$	162,000	
Interest Earnings	-	4,921	1,657	6,578	5,000	
Carry Forward Surplus (1)	56,753	59,174	-	59,174	67,317	

TOTAL REVENUES	$	218,753	$	226,651	$	1,657	$	228,308	$	234,316	

EXPENDITURES:

Interest - 11/1	$	48,573	$	48,573	$	-	$	48,573	$	47,883	
Interest - 5/1	48,573	-	48,573	48,573	47,883	
Principal - 5/1	60,000	-	60,000	60,000	65,000	

TOTAL EXPENDITURES	$	157,145	$	48,573	$	108,573	$	157,145	$	160,765	

Other Sources/(Uses)

Transfer In/(Out)	$	-	$	(2,244)	$	(1,603)	$	(3,846)	$	(3,500)	

TOTAL OTHER SOURCES/(USES)	$	-	$	(2,244)	$	(1,603)	$	(3,846)	$	(3,500)	

TOTAL EXPENDITURES	$	157,145	$	50,816	$	110,175	$	160,991	$	164,265	

EXCESS REVENUES (EXPENDITURES)	$	61,607	$	175,834	$	(108,518)	$	67,317	$	70,051	

Interest Due 11/1/25	 $	47,135 	
	 $	47,135 	

(1) Carry Forward is Net of Reserve Requirement

Eureka Grove	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2021 Special Assessment Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

11/01/24	2,670,000	2.300%	-	47,883	47,882.50	
05/01/25	2,670,000	2.300%	65,000	47,883		
11/01/25	2,605,000	2.300%	-	47,135	160,017.50	
05/01/26	2,605,000	2.300%	65,000	47,135		
11/01/26	2,540,000	2.300%	-	46,388	158,522.50	
05/01/27	2,540,000	2.750%	65,000	46,388		
11/01/27	2,475,000	2.750%	-	45,494	156,881.25	
05/01/28	2,475,000	2.750%	70,000	45,494		
11/01/28	2,405,000	2.750%	-	44,531	160,025.00	
05/01/29	2,405,000	2.750%	70,000	44,531		
11/01/29	2,335,000	2.750%	-	43,569	158,100.00	
05/01/30	2,335,000	2.750%	70,000	43,569		
11/01/30	2,265,000	2.750%	-	42,606	156,175.00	
05/01/31	2,265,000	2.750%	75,000	42,606		
11/01/31	2,190,000	2.750%	-	41,575	159,181.25	
05/01/32	2,190,000	3.500%	75,000	41,575		
11/01/32	2,115,000	3.500%	-	40,263	156,837.50	
05/01/33	2,115,000	3.500%	80,000	40,263		
11/01/33	2,035,000	3.500%	-	38,863	159,125.00	
05/01/34	2,035,000	3.500%	80,000	38,863		
11/01/34	1,955,000	3.500%	-	37,463	156,325.00	
05/01/35	1,955,000	3.500%	85,000	37,463		
11/01/35	1,870,000	3.500%	-	35,975	158,437.50	
05/01/36	1,870,000	3.500%	85,000	35,975		
11/01/36	1,785,000	3.500%	-	34,488	155,462.50	
05/01/37	1,785,000	3.500%	90,000	34,488		
11/01/37	1,695,000	3.500%	-	32,913	157,400.00	
05/01/38	1,695,000	3.500%	95,000	32,913		
11/01/38	1,600,000	3.500%	-	31,250	159,162.50	
05/01/39	1,600,000	3.500%	95,000	31,250		
11/01/39	1,505,000	3.500%	-	29,588	155,837.50	
05/01/40	1,505,000	3.500%	100,000	29,588		
11/01/40	1,405,000	3.500%	-	27,838	157,425.00	
05/01/41	1,405,000	3.500%	105,000	27,838	-	
11/01/41	1,300,000	4.000%	-	26,000	158,837.50	
05/01/42	1,300,000	4.000%	110,000	26,000	-	
11/01/42	1,190,000	4.000%	-	23,800	159,800.00	
05/01/43	1,190,000	4.000%	115,000	23,800	-	
11/01/43	1,075,000	4.000%	-	21,500	160,300.00	
05/01/44	1,075,000	4.000%	115,000	21,500	-	
11/01/44	960,000	4.000%	-	19,200	155,700.00	
05/01/45	960,000	4.000%	120,000	19,200	-	
11/01/45	840,000	4.000%	-	16,800	156,000.00	
05/01/46	840,000	4.000%	125,000	16,800	-	
11/01/46	715,000	4.000%	-	14,300	156,100.00	
05/01/47	715,000	4.000%	130,000	14,300	-	
11/01/47	585,000	4.000%	-	11,700	156,000.00	
05/01/48	585,000	4.000%	135,000	11,700	-	
11/01/48	450,000	4.000%	-	9,000	155,700.00	
05/01/49	450,000	4.000%	145,000	9,000	-	
11/01/49	305,000	4.000%	-	6,100	160,100.00	
05/01/50	305,000	4.000%	150,000	6,100	-	
11/01/50	155,000	4.000%	-	3,100	159,200.00	
05/01/51	155,000	4.000%	155,000	3,100	158,100.00	

Total	$2,670,000	$1,638,635	$4,308,635	

Eureka Grove	
Community Development District	
Non-Ad Valorem Assessments Comparison	
2024-2025	

Neighborhood	O&M Units	Bonds
Units 2021	Annual Maintenance Assessments	Annual Debt Assessments	Total Assessed Per Unit	
	FY 2025	FY2024	Increase/ (decrease)	FY 2025	FY2024	Increase/ (decrease)	FY 2025	FY2024	Increase/ (decrease)	

Villas	
150	
150	
$442.11	
$442.11	
$0.00	
$1,136.84	
$1,136.84	
$0.00	
$1,578.95	
$1,578.95	
$0.00	
Total	150	150										

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