Adopted Budget
Fiscal Year 2023

Bent Creek Community Development District

August 4, 2022

Bent Creek
Community Development District

General Fund

Adopted Budget
 	FY 2022	

Actual thru
 	6/30/2022	

Projected Next
 	3 Months	

Total Projected at
 	9/30/2022	

Adopted Budget
 	FY 2023	

 Description	

Revenues

Assessments - On-Roll Direct Assessments

$25,724
$43,451

$25,434
$74,965

$0
$0

$25,434
$74,965

$24,911
$44,264

Total Revenues

 	$69,175

 	$100,399

 	$0

 	$100,399

 	$69,175

Expenditures

Administrative

Engineering Arbitrage Dissemination Agent Assessment Roll Attorney
Annual Audit Trustee Fees Management Fees Computer Time Postage
Printing & Binding Insurance
Legal Advertising Other Current Charges Website Compliance Office Supplies
Dues-Annual Fee DEO

$6,000
$600
$2,500
$2,000
$14,000
$2,775
$4,200
$25,000
$600
$800
$500
$5,000
$2,500
$875
$1,500
$150
$175

$2,500
$550
$625
$0
$8,000
$2,775
$4,200
$26,250
$630
$250
$200
$0
$500
$583
$1,575
$50
$0

$7,110
$550
$2,500
$4,295
$12,000
$5,550
$4,200
$45,000
$1,080
$446
$352
$5,000
$511
$999
$2,700
$85
$175

$6,000
$600
$2,500
$2,000
$14,000
$2,775
$4,200
$26,250
$600
$300
$250
$5,000
$2,000
$875
$1,500
$150
$175

$4,610
$0
$1,875
$4,295
$4,000
$2,775
$0
$18,750
$450
$196
$152
$5,000
$11
$416
$1,125
$35
$175

Total Administrative

 	$69,175

 	$43,865

 	$48,688

 	$92,553

 	$69,175

Exess Revenues/Expenditures

 	$0

 	$56,534

 	($48,688)

 	$7,846

 	$0

Page 1

Annual Net	Annual Gross O&M		O&M
Assessment			Assessment Land Use	 No. of Units		 	Per Unit		 		Per Unit	

Platted
Single Family	121	$205.88	$223.78
Unplatted
Single Family	215	$205.88	$223.78

Totals	336	Gross Assessments
Less: Discounts/Commissions (8%) Net Assessments

Annual Gross O&M Assessment Total

$27,077.38

$48,112.70

$75,190.08
-$6,015.21

$69,174.87

Bent Creek
Community Development District
GENERAL FUND BUDGET

REVENUES:

Special Assessments

The District will levy a Non-Ad Valorem assessment on all the platted lots within the District to pay all of the operating expenses for the Fiscal Year in accordance with the adopted budget.

EXPENDITURES:

Administrative:

Engineering Fees

The District's engineer will be providing general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review invoices, etc.

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.

Arbitrage

The District is required to have an annual arbitrage rebate calculation on the District’s Bonds. The District will contract with an independent auditing firm to perform the calculations.

Assessment Roll

Represents cost associated with annually levying and collection Non-Ad Valorem Assessments utilized to fund the operating and debt service cost of the District.

Attorney Fees

The District's legal counsel will be providing general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating & maintenance contracts, etc.

Annual Audit

The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm.

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.

Page 2

Bent Creek
Community Development District
GENERAL FUND BUDGET

Administrative: (continued)

Computer Time

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 – South Florida, LLC.

Telephone

Telephone and fax machine

Postage

Mailing of agenda packages, overnight deliveries, correspondence, etc.

Insurance

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 & Binding

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

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 incurred during the year.

Website Administration

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.

Office Supplies

Miscellaneous 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.

Page 3

Bent Creek
Community Development District

Debt Service Fund
Series 2021 Special Assessment Bond

Adopted Budget
 	FY 2022	

Actual thru
 	6/30/2022	

Projected Next
 	3 Months	

Total Projected at
 	9/30/2022	

Adopted Budget
 	FY 2023	

 Description	

Revenues

Interest Income Assessments - On-Roll Assessments - Direct Carry Forward Surplus (1)

$0
$80,667
$143,334
$52,964

$34
$82,830
$99,413
$52,964

$8
$0
$43,921
$0

$42
$82,830
$143,334
$52,964

$0
$80,667
$143,334
$72,251

Total Revenues

 	$276,965 

 	$235,241 

 	$43,929 

 	$279,170 

 	$296,252 

Expenditures

Series 2021
Interest Expense - 12/15 Interest Expense - 06/15 Principal Expense - 06/15

$52,964
$85,000
$69,083

$52,964
$85,000
$69,083

$0
$0
$0

$52,964
$85,000
$69,083

$68,074
$85,000
$68,074

Total Expenditures

 	$207,047 

 	$207,047 

 	$0 

 	$207,047 

 	$221,148 

Other Financing Sources/(Uses)

$0

$136

($8)

$128

$0

Interfund Transfer In/(Out)

Total Other Financing Source 	$0 

 	$136 

 	($8)

 	$128 

 	$0 

 	$69,918 

$28,330

$43,937

$72,251

$75,104

EXCESS REVENUES

12/15/23 Interest

$67,064.38

(1) Carry forward is net of Reserve Fund requirement.

Page 4

Annual Net	Annual Gross Debt		Debt
Assessment			Assessment Land Use	 No. of Units		 	Per Unit		 		Per Unit	

Platted
Single Family	121	$666.67	$724.64
Unplatted
Single Family	215	$666.67	$724.64

Totals	336	Gross Assessments
Less: Discounts/Commissions (8%) Net Assessments

Annual Gross Debt Assessment Total

$87,681.44

$155,797.60

$243,479.04
-$19,478.32

$224,000.72

Bent Creek
Community Development District

Series 2021 Special Assessment Bond
Amortization Schedule

PRINCIPAL
 	BALANCE	
$4,050,000.00
$4,050,000.00

 	DATE	 15-Dec-21
15-Jun-22

 	INTEREST	
$52,963.73
$69,083.13

 	PRINCIPAL	
$0.00
$85,000.00

 	TOTAL	
$52,963.73

15-Dec-23
15-Jun-24
15-Dec-24
15-Jun-25
15-Dec-25
15-Jun-26
15-Dec-26
15-Jun-27
15-Dec-27
15-Jun-28
15-Dec-28
15-Jun-29
15-Dec-29
15-Jun-30
15-Dec-30
15-Jun-31
15-Dec-31
15-Jun-32
15-Dec-32
15-Jun-33
15-Dec-33
15-Jun-34
15-Dec-34
15-Jun-35
15-Dec-34
15-Jun-36
15-Dec-36
15-Jun-37
15-Dec-37
15-Jun-38
15-Dec-38
15-Jun-39
15-Dec-39
15-Jun-40
15-Dec-40
15-Jun-41
15-Dec-41
15-Jun-42
15-Dec-42
15-Jun-43
15-Dec-43
15-Jun-44
15-Dec-44
15-Jun-45
15-Dec-45
15-Jun-46
15-Dec-46
15-Jun-47
15-Dec-47
15-Jun-48
15-Dec-48
15-Jun-49
15-Dec-49
15-Jun-50
15-Dec-50
15-Jun-51

$3,880,000.00
$3,880,000.00
$3,790,000.00
$3,790,000.00
$3,700,000.00
$3,700,000.00
$3,605,000.00
$3,605,000.00
$3,510,000.00
$3,510,000.00
$3,410,000.00
$3,410,000.00
$3,310,000.00
$3,310,000.00
$3,205,000.00
$3,205,000.00
$3,100,000.00
$3,100,000.00
$2,990,000.00
$2,990,000.00
$2,875,000.00
$2,875,000.00
$2,760,000.00
$2,760,000.00
$2,640,000.00
$2,640,000.00
$2,515,000.00
$2,515,000.00
$2,385,000.00
$2,385,000.00
$2,250,000.00
$2,250,000.00
$2,115,000.00
$2,115,000.00
$1,975,000.00
$1,975,000.00
$1,830,000.00
$1,830,000.00
$1,680,000.00
$1,680,000.00
$1,520,000.00
$1,520,000.00
$1,355,000.00
$1,355,000.00
$1,185,000.00
$1,185,000.00
$1,005,000.00
$1,005,000.00
$820,000.00
$820,000.00
$625,000.00
$625,000.00
$425,000.00
$425,000.00
$215,000.00
$215,000.00

$67,064.38
$67,064.38
$65,995.63
$65,995.63
$64,926.88
$64,926.88
$63,798.75
$63,798.75
$62,445.00
$62,445.00
$61,020.00
$61,020.00
$59,595.00
$59,595.00
$58,098.75
$58,098.75
$56,602.50
$56,602.50
$54,870.00
$54,870.00
$53,058.75
$53,058.75
$51,247.50
$51,247.50
$49,357.50
$49,357.50
$47,388.75
$47,388.75
$45,341.25
$45,341.25
$43,215.00
$43,215.00
$41,088.75
$41,088.75
$38,883.75
$38,883.75
$36,600.00
$36,600.00
$33,600.00
$36,600.00
$30,400.00
$30,400.00
$27,100.00
$27,100.00
$23,700.00
$23,700.00
$20,100.00
$20,100.00
$16,400.00
$16,400.00
$12,500.00
$12,500.00
$8,500.00
$8,500.00
$4,300.00
 	$4,300.00
 	$2,655,590.64

$0.00
$90,000.00
$0.00
$90,000.00
$0.00
$95,000.00
$0.00
$95,000.00
$0.00
$100,000.00
$0.00
$100,000.00
$0.00
$105,000.00
$0.00
$105,000.00
$0.00
$110,000.00
$0.00
$115,000.00
$0.00
$115,000.00
$0.00
$120,000.00
$0.00
$125,000.00
$0.00
$130,000.00
$0.00
$135,000.00
$0.00
$135,000.00
$0.00
$140,000.00
$0.00
$145,000.00
$0.00
$150,000.00
$0.00
$160,000.00
$0.00
$165,000.00
$0.00
$170,000.00
$0.00
$180,000.00
$0.00
$185,000.00
$0.00
$195,000.00
$0.00
$200,000.00
$0.00
$210,000.00
$0.00
 	$215,000.00
 	$4,050,000.00

$220,138.13

$223,060.01

$220,922.51

$223,725.63

$221,243.75

$223,465.00

$220,615.00

$222,693.75

$219,701.25

$221,472.50

$222,928.75

$219,306.25

$220,605.00

$221,746.25

$222,730.00

$223,556.25

$219,303.75

$219,972.50

$220,483.75

$220,200.00

$227,000.00

$222,500.00

$220,800.00

$223,800.00

$221,500.00

$223,900.00

$221,000.00

$222,800.00
 	
 	$6,486,290.64

Page 5

15-Dec-22	$3,965,000.00	$68,073.75	$0.00	$222,156.88
15-Jun-23	$3,965,000.00	$68,073.75	$85,000.00