Title: Bartram Park Proposed Budget FY2025

Bartram Park
Community Development District

Bartram Park
Community Development District
Budget Narrative
Fiscal Year 2025

Bartram Park
Community Development District
AMORTIZATION SCHEDULE
Debt Service Series 2015A1 Special Assessment Refunding Bonds

Bartram Park
Community Development District

Approved Budget
FY2025

Table of Contents

1

2-3

4-6

7-8

9

	General Fund

	Narratives

	Debt Service Fund Series 2015

	Debt Service Fund Series 2022

	Capital Reserve Funds

Adopted
_Budget	Actuals Thru	Projected Next Projected Thru

Approved Budget

Approved Budget General Fund

Description | FY2024 | 3/31/24 | 6 Months | 9/30/24 | FY 2025
REVENUES: | | | | |
Special Assessments - On Roll | $	129,495 | $127,140 | $2,356 | $129,495 | $129,495
Interest Earned | 4,000 | 3,744 | 3,000 | 6,744 | 6,500
Carry Forward Surplus | - | - | - | - | -
TOTAL REVENUES | $133,495 | $130,883 | $5,356 | $136,239 | $135,995
EXPENDITURES: | | | | |
Administrative: | | | | |
Supervisor Fees | $4,000 | $2,000 | $2,000 | $4,000 | $4,000
FICA Taxes | 306 | 153 | 153 | 306 | 306
Engineer | 8,500 | 193 | 807 | 1,000 | 8,500
Attorney | 20,000 | 1,018 | 5,983 | 7,000 | 15,000
Annual Audit | 3,700 | - | 3,700 | 3,700 | 3,700
Assessment Administration | 7,950 | 7,950 | - | 7,950 | 7,950
Arbitrage Rebate | 1,200 | - | 1,200 | 1,200 | 1,200
Trustee Fees | 10,000 | 8,267 | 1,733 | 10,000 | 10,000
District Management Fees | 47,700 | 23,850 | 23,850 | 47,700 | 50,562
Information Technology | 1,625 | 813 | 812 | 1,625 | 1,723
Wesite Maintenance | 1,050 | 525 | 525 | 1,050 | 1,113
Telephone | 191 | 15 | 176 | 191 | 191
Postage & Delivery | 400 | 65 | 335 | 400 | 400
General Liability and Public Officials Insurance | 7,960 | 7,526 | - | 7,526 | 8,279
Printing & Binding | 1,000 | 88 | 912 | 1,000 | 1,000
Legal Advertising | 800 | 80 | 720 | 800 | 800
Other Current Charges | 500 | - | 500 | 500 | 500
Office Supplies | 100 | 1 | 99 | 100 | 100
Dues, Licenses & Subscriptions | 175 | 175 | - | 175 | 175
Capital Reserves-Transfer out | 16,339 | - | 16,338 | 16,338 | 20,497
TOTAL ADMINISTRATIVE | $133,495 | $52,717 | $59,844 | $112,561 | $135,995
TOTAL EXPENDITURES | $133,495.38 | $52,717 | $59,844 | $112,561 | $135,995
EXCESS REVENUES (EXPENDITURES) | $- | $78,166 | $(54,488) | $23,678 | $-

| FY 2023 | FY 2024 | FY 2025
Net Assessments | $ 129,495.38 | $ 129,495.38 | $ 129,495.37
Plus Collection Fees (7.5%) | $  10,499.63 | $  10,499.63 | $  10,499.62
Gross Assessments | $ 139,995.00 | $ 139,995.00 | $ 139,995.00
No. of Units | 4,148 | 4,148 | 4,148
Per Unit Assessments | $	33.75 | $	33.75 | $	33.75

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 6

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.
District Engineering Fees
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.
District Counsel Fees
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.
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
Trustee Fees
The District bonds will be held and administered by a Trustee. This represents the trustee annual fee.
District 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.
Telephone
New 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 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.

Expenditures - Administrative (continued)

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 Department of Economic Opportunity Community Affairs for $175.

Approved Budget
Debt Service Series 2015A1 & A2 Special Assessment Refunding Bonds

Description

Adopted Budget
FY2024

Actuals Thru	Projected Next  Projected Thru

3/31/24

	6 Months	

9/30/24

Approved Budget
FY 2025

REVENUES:

Special Assessments-On Roll | $1,305,910 | $1,282,155 | $23,754 | $1,305,910 | $1,305,910
Interest Earnings | 4,000 | 27,585 | 27,585 | 55,170 | 50,000
Carry Forward Surplus ^(1) | 325,628 | $458,827 | - | 458,827 | 513,744
TOTAL REVENUES	$1,635,538 | $1,768,567 | $51,339 | $1,819,907 | $1,869,654

EXPENDITURES:

Series 2015A1
Interest 11/1	$210,344

$210,344

$-

$210,344

$197,169

Interest 51	210,344 | - | 210,344 | 210,344 | 197,169
Principal 5/1	620,000 | - | 620,000 | 620,000 | 650,000
Series 2015A2 | | | |
Interest 11/1	57,738 | 57,738 | - | 57,738 | 54,363
Interest 51	57,738 | - | 57,738 | 57,738 | 54,363
Principal 5/1	150,000 | - | 150,000 | 150,000 | 155,000
TOTAL EXPENDITURES	$1,306,163 | $268,081 | $1,038,081 | $1,306,163 | $1,308,063
Other Sources/(Uses) | | | | |
Interfund transfer In/(Out) | $- | $- | $- | $- | $-
TOTAL OTHER SOURCES/(USES) | $- | $- | $- | $- | $-
TOTAL EXPENDITURES | $1,306,163 | $268,081 | $1,038,081 | $1,306,163 | $1,308,063
EXCESS REVENUES (EXPENDITURES) | $329,376 | $1,500,486 | $(986,742) | $513,744 | $561,591

ement | Series 2015 A1 Interest Due 11/1/25 | $183,356.25
| Series 2015 A2 Interest Due 11/1/26 | $50,875.00
| | $234,231.25
Net Assessments | | $1,305,910
Plus Collection Fees (7.5%) | | $97,943
Gross Assessments | | $1,403,853

^(1) Carry Forward is Net of Reserve Requir

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

05/01/24 | 9,580,000 | 4.250% | 620,000 | 210,344 |
11/01/24 | 8,960,000 | | - | 197,169 | 197,168.75
05/01/25 | 8,960,000 | 4.250% | 650,000 | 197,169 |
11/01/25 | 8,310,000 | | - | 183,356 | 1,030,525.00
05/01/26 | 8,310,000 | 4.250% | 680,000 | 183,356 |
11/01/26 | 7,630,000 | | - | 168,906 | 1,032,262.50
05/01/27 | 7,630,000 | 4.250% | 705,000 | 168,906 |
11/01/27 | 6,925,000 | | - | 153,925 | 1,027,831.25
05/01/28 | 6,925,000 | 4.250% | 740,000 | 153,925 |
11/01/28 | 6,185,000 | | - | 138,200 | 1,032,125.00
05/01/29 | 6,185,000 | 4.250% | 770,000 | 138,200 |
11/01/29 | 5,415,000 | | - | 121,838 | 1,030,037.50
05/01/30 | 5,415,000 | 4.500% | 805,000 | 121,838 |
11/01/30 | 4,610,000 | | - | 103,725 | 1,030,562.50
05/01/31 | 4,610,000 | 4.500% | 840,000 | 103,725 |
11/01/31 | 3,770,000 | | - | 84,825 | 1,028,550.00
05/01/32 | 3,770,000 | 4.500% | 880,000 | 84,825 |
11/01/32 | 2,890,000 | | - | 65,025 | 1,029,850.00
05/01/33 | 2,890,000 | 4.500% | 920,000 | 65,025 |
11/01/33 | 1,970,000 | | - | 44,325 | 1,029,350.00
05/01/34 | 1,970,000 | 4.500% | 965,000 | 44,325 |
11/01/34 | 1,005,000 | | - | 22,613 | 1,031,937.50
05/01/35 | 1,005,000 | 4.500% | 1,005,000 | 22,613 |
| | | | | 1,027,612.50
Total	$8,960,000 | $2,567,813 | $11,527,813

AMORTIZATION SCHEDULE
Debt Service Series 2015A2 Special Assessment Refunding Bonds

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

05/01/24 | 2,340,000 | 4.500% | 150,000 | 57,738 |
11/01/24 | 2,190,000 | 4.500% | - | 54,363 | 54,362.50
05/01/25 | 2,190,000 | 4.500% | 155,000 | 54,363 |
11/01/25 | 2,035,000 | 5.000% | - | 50,875 | 260,237.50
05/01/26 | 2,035,000 | 5.000% | 160,000 | 50,875 |
11/01/26 | 1,875,000 | 5.000% | - | 46,875 | 257,750.00
05/01/27 | 1,875,000 | 5.000% | 170,000 | 46,875 |
11/01/27 | 1,705,000 | 5.000% | - | 42,625 | 259,500.00
05/01/28 | 1,705,000 | 5.000% | 180,000 | 42,625 |
11/01/28 | 1,525,000 | 5.000% | - | 38,125 | 260,750.00
05/01/29 | 1,525,000 | 5.000% | 185,000 | 38,125 |
11/01/29 | 1,340,000 | 5.000% | - | 33,500 | 256,625.00
05/01/30 | 1,340,000 | 5.000% | 195,000 | 33,500 |
11/01/30 | 1,145,000 | 5.000% | - | 28,625 | 257,125.00
05/01/31 | 1,145,000 | 5.000% | 205,000 | 28,625 |
11/01/31 | 940,000 | 5.000% | - | 23,500 | 257,125.00
05/01/32 | 940,000 | 5.000% | 215,000 | 23,500 |
11/01/32 | 725,000 | 5.000% | - | 18,125 | 256,625.00
05/01/33 | 725,000 | 5.000% | 230,000 | 18,125 |
11/01/33 | 495,000 | 5.000% | - | 12,375 | 260,500.00
05/01/34 | 495,000 | 5.000% | 240,000 | 12,375 |
11/01/34 | 255,000 | 5.000% | - | 6,375 | 258,750.00
05/01/35 | 255,000 | 5.000% | 255,000 | 6,375 |
| | | | | 261,375.00
Total	$2,190,000 | $710,725 | $2,900,725

Approved Budget
Debt Service Series 2022 Revenue Refunding Note

Description

Adopted Budget
FY2024

Actuals Thru	Projected Next  Projected Thru

3/31/24

	6 Months	

9/30/24

Approved Budget
FY 2025

REVENUES:

Special Assessments-On Roll | $1,042,770 | $1,027,424 | $19,035 | $1,046,459 | $1,046,459
Interest Earnings | 7,000 | 9,609 | 9,000 | 18,609 | 14,000
Carry Forward Surplus ^(1) | 226,002 | $226,465 | - | 226,465 | 234,693
TOTAL REVENUES	$1,275,772 | $1,263,498 | $28,035 | $1,291,533 | $1,295,152
EXPENDITURES: | | | | | |
Interest 11/1 | $168,420 | | $168,420 | $- | $168,420 | $158,340
Prepayment 11/1 | - | | 5,000 | - | 5,000 | -
Interest 5/1 | 168,420 | 0 | | 163,420 | 168,420 | 158,340
Principal 5/1 | 715,000 | | - | 715,000 | 715,000 | 735,000
TOTAL EXPENDITURES | $1,051,840 | | $173,420 | $878,420 | $1,056,840 | $1,051,680
Other Sources/(Uses) | | | | | |
Interfund transfer In/(Out) | $- | $- | $- | $- | $-
TOTAL OTHER SOURCES/(USES) | $- | $- | $- | $- | $-
TOTAL EXPENDITURES | $1,051,840 | $173,420 | $878,420 | $1,056,840 | $1,051,680
EXCESS REVENUES (EXPENDITURES) | $223,932 | $1,090,078 | $(850,385) | $234,693 | $243,472

^(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/25

$148,050.00

AMORTIZATION SCHEDULE
Debt Service Series 2022 Revenue Refunding Note

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

05/01/24 | 12,025,000 | 2.800% | 715,000 | 168,350 |
11/01/24 | 11,310,000 | 2.800% | - | 158,340 | 158,340.00
05/01/25 | 11,310,000 | 2.800% | 735,000 | 158,340 |
11/01/25 | 10,575,000 | 2.800% | - | 148,050 | 1,041,390.00
05/01/26 | 10,575,000 | 2.800% | 755,000 | 148,050 |
11/01/26 | 9,820,000 | 2.800% | - | 137,480 | 1,040,530.00
05/01/27 | 9,820,000 | 2.800% | 775,000 | 137,480 |
11/01/27 | 9,045,000 | 2.800% | - | 126,630 | 1,039,110.00
05/01/28 | 9,045,000 | 2.800% | 800,000 | 126,630 |
11/01/28 | 8,245,000 | 2.800% | - | 115,430 | 1,042,060.00
05/01/29 | 8,245,000 | 2.800% | 820,000 | 115,430 |
11/01/29 | 7,425,000 | 2.800% | - | 103,950 | 1,039,380.00
05/01/30 | 7,425,000 | 2.800% | 840,000 | 103,950 |
11/01/30 | 6,585,000 | 2.800% | - | 92,190 | 1,036,140.00
05/01/31 | 6,585,000 | 2.800% | 865,000 | 92,190 |
11/01/31 | 5,720,000 | 2.800% | - | 80,080 | 1,037,270.00
05/01/32 | 5,720,000 | 2.800% | 890,000 | 80,080 |
11/01/32 | 4,830,000 | 2.800% | - | 67,620 | 1,037,700.00
05/01/33 | 4,830,000 | 2.800% | 915,000 | 67,620 |
11/01/33 | 3,915,000 | 2.800% | - | 54,810 | 1,037,430.00
05/01/34 | 3,915,000 | 2.800% | 945,000 | 54,810 |
11/01/34 | 2,970,000 | 2.800% | - | 41,580 | 1,041,390.00
05/01/35 | 2,970,000 | 2.800% | 965,000 | 41,580 |
11/01/35 | 2,005,000 | 2.800% | - | 28,070 | 1,034,650.00
05/01/36 | 2,005,000 | 2.800% | 990,000 | 28,070 |
11/01/36 | 1,015,000 | 2.800% | - | 14,210 | 1,032,280.00
05/01/37 | 1,015,000 | 2.800% | 1,015,000 | 14,210 | 1,029,210.00
Total	$11,310,000 | $2,336,880 | $13,646,880

Proposed Budget Capital Reserve Fund

^Adopted	Actuals Thru	Projected Next Projected Thru	^Approved Budget				Budget
Description | FY2024 | 3/31/24 | 6 Months | 9/30/24 | FY 2025
REVENUES: | | | | |
Interest Income | $1,200 | $- | $1,200 | 1,200 | $1,200
Capital Reserve-Transfer In | 16,339 | 299 | 16,040 | 16,339 | 20,497
Carry Forward Balance | 62,159 | - | 62,159 | 62,159 | 79,298
TOTAL REVENUES | $79,698 | $299 | $79,399 | $79,698 | $100,994
EXPENDITURES: | | | | |
Capital Outlay | $- | $- | $- | $- | $-
Repair and Replacements | - | - | - | - | -
Other Current Charges | 400 | - | 400 | 400 | 400
TOTAL EXPENDITURES | $400 | $- | $400 | $400 | $400
Other Sources/(Uses) | | | | |
Transfer in/(Out) | $- | $- | $- | $- | $-
TOTAL OTHER SOURCES/(USES) | $- | $- | $- | $- | $-
TOTAL EXPENDITURES | $400 | $- | $400 | $400 | $400
EXCESS REVENUES (EXPENDITURES) | $79,298 | $299 | $78,999 | $79,298 | $100,594