Elevation Pointe
Community Development District

Adopted Budget
FY2023

GMS

Table of Contents

1

2-4

5

	General Fund

	General Fund Narrative

	Debt Service

6-7		Amortization Schedule

Elevation Pointe CDD Community Development District Adopted Budget
General Fund

	Adopted Budget	Actuals Thru	Projected Next	Total Thru	Adopted Budget	
Description	FY2022	5/31/22	4 Months	9/30/22	FY2023	

Revenues						

Developer Contributions	
$	108,593	
$	39,603	
$	34,299	
$	73,902	
$	126,768	
Total Revenues	$	108,593	$	39,603	$	34,299	$	73,902	$	126,768	

Expenditures						
General & Administrative
Supervisor Fees	
$	12,000	
$	-	
$	-	
$	-	
$	12,000	
FICA Expense	$	918	$	-	$	-	$	-	$	918	
Engineering Fees	$	12,000	$	-	$	5,000	$	5,000	$	12,000	
Attorney Fees	$	25,000	$	8,627	$	6,077	$	14,703	$	25,000	
Annual Audit	$	3,000	$	-	$	2,500	$	2,500	$	5,625	
Assessment Administration	$	-	$	-	$	-	$	-	$	5,000	
Arbitrage	$	-	$	-	$	-	$	-	$	450	
Dissemination Fees	$	-	$	417	$	1,668	$	2,085	$	5,000	
Trustee Fees	$	-	$	-	$	-	$	-	$	5,000	
Management Fees	$	35,000	$	23,333	$	11,667	$	35,000	$	36,750	
Information Technology	$	1,000	$	667	$	333	$	1,000	$	1,250	
Website Maintenance	$	700	$	2,217	$	233	$	2,450	$	875	
Telephone	$	200	$	-	$	50	$	50	$	100	
Postage & Delivery	$	1,000	$	65	$	48	$	113	$	1,000	
Insurance	$	5,000	$	5,000	$	-	$	5,000	$	5,000	
Printing & Binding	$	1,000	$	78	$	156	$	234	$	1,000	
Legal Advertising	$	10,000	$	-	$	4,739	$	4,739	$	8,000	
Other Current Charges	$	1,000	$	632	$	132	$	764	$	1,000	
Office Supplies	$	600	$	59	$	30	$	89	$	625	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	

Total Administrative	$	108,593	$	41,270	$	32,632	$	73,902	$	126,768	

Total Expenditures

$	108,593	$	41,270	$	32,632	$	73,902	$	126,768

Excess Revenues/(Expenditures)	$

-

$

(1,666)  $

1,667	$

0	$

-

Elevation Pointe
Community Development District
General Fund Budget

Revenues:

Developer Contributions

The District will enter into a funding agreement with the Developer to fund the General Fund expenditures for the Fiscal Year.

Expenditures:

General & Administrative:

Supervisor Fees

Chapter 190, Florida Statutes, allows for each Board member to receive $200 per meeting, not to exceed $4,800 per year paid to each Supervisor for the time devoted to District business and meetings.

FICA Expense

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

Engineering Fees

The District's engineer will be providing general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review invoices and various projects as directed by the Board of Supervisors and the District Manager.

Attorney Fees

The District's legal counsel will be providing general legal services to the District, e.g. attendance and preparation for meetings, preparation and review of agreements, resolutions, etc. as directed by the Board of Supervisors and the District Manager.

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis.

Assessment Administration

The District will contract to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on an anticipated bond issuance.

Dissemination Fees

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. This cost is based upon an anticipated bond issuance.

Elevation Pointe
Community Development District
General Fund Budget

Trustee Fees

The District will incur trustee related costs with the issuance of its’ issued bonds.

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 reports, annual audits, etc.

Information Technology

Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, security, accounting software, etc.

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.

Telephone

Telephone and fax machine.

Postage & Delivery

The District incurs charges for mailing of Board meeting agenda packages, overnight deliveries, correspondence, etc.

Insurance

The District’s general liability and public official’s liability insurance coverages.

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 incurred during the year.

Elevation Pointe
Community Development District
General Fund Budget

Office Supplies

Any supplies that may need to be purchased during the fiscal year, e.g., paper, minute books, file folders, labels, paper clips, etc.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Florida Department of Economic Opportunity for $175.

Elevation Pointe
Community Development District Adopted Budget
Debt Service Fund Series 2022

	Adopted
Budget	Actuals
Thru	Projected
Next	Projected
Thru	Adopted
Budget	
	Description	FY2022	5/31/22	4 Months	9/30/22	FY2023	

Revenues

Special Assessments A-1 Special Assessments A-2 Interest Income
Carry Forward Surplus *

$	-	$
$	-	$
$	-	$
$	-	$

-	$	-	$
-	$	-	$
1	$	1	$
-	$	-	$

-	$	274,920
-	$	259,820
2	$	-
-	$	235,525

Total Revenues	$	-	$	1	$	1	$	2	$	770,265

Expenses Series 2022A-1 Interest - 11/1 Principal - 5/1 Interest - 5/1

$	-	$
$	-	$
$	-	$

-	$	-	$
-	$	-	$
-	$	-	$

-	$	102,004
-	$	75,000
-	$	99,248

Series 2022A-2 Interest - 11/1 Interest - 5/1

$	-	$
$	-	$

-	$	-	$
-	$	-	$

-	$	133,519
-	$	129,910

Total Expenditures	$	-	$	-	$	-	$	-	$	539,680

Other Financing Sources/(Uses)

Bond Proceeds	$	-	$	770,263	$	-		$	770,263	$	-	
Total Other Financing Sources/(Uses)	$	-	$	770,263	$	-		$	770,263	$	-	

Excess Revenues/(Expenditures)	$	-	$	770,264	$	1	$	770,265	$	230,584	

*Carry forward less amount in Reserve funds.						
				Series 2022 A-1 Principal - 11/1	
$97,785	
				Series 2022 A-2		
				Principal - 11/1	$129,910	
				Total	$227,695	

Series 2022-A1						

Product	
Assessable Units	Maximum Annual Debt Service	Net Assessment Per Unit	Gross Assessment Per Unit		
Townhome	420	$	274,920	$	654.57	$	696.35		
Commercial	130	$	-	$	-	$	-		
	550	$	274,920				

Series 2022-A2						

Product	
Assessable Units	Maximum Annual Debt Service	Net Assessment Per Unit	Gross Assessment Per Unit		
Townhome	420	$	259,820	$	618.62	$	658.11		
Commercial	130	$	-	$	-	$	-		
	550	$	259,820				

Elevation Pointe
Community Development District Series 2022 A-1 Special Assessment Bonds Amortization Schedule

DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL

11/01/22	$	4,490,000.00	$	
05/01/23	$	4,490,000.00	$	75	
11/01/23	$	4,415,000.00	$	
05/01/24	$	4,415,000.00	$	80	
11/01/24	$	4,335,000.00	$	
05/01/25	$	4,335,000.00	$	80	
11/01/25	$	4,080,000.00	$	
05/01/26	$	4,080,000.00	$	85	
11/01/26	$	4,080,000.00	$	
05/01/27	$	4,080,000.00	$	90	
11/01/27	$	4,080,000.00	$	
05/01/28	$	4,080,000.00	$	90	
11/01/28	$	3,990,000.00	$	
05/01/29	$	3,990,000.00	$	95	
11/01/29	$	3,895,000.00	$	
05/01/30	$	3,895,000.00	$	100	
11/01/30	$	3,580,000.00	$	
05/01/31	$	3,580,000.00	$	105	
11/01/31	$	3,580,000.00	$	
05/01/32	$	3,580,000.00	$	110	
11/01/32	$	3,580,000.00	$	
05/01/33	$	3,580,000.00	$	115	
11/01/33	$	3,465,000.00	$	
05/01/34	$	3,465,000.00	$	120	
11/01/34	$	3,345,000.00	$	
05/01/35	$	3,345,000.00	$	125	
11/01/35	$	3,220,000.00	$	
05/01/36	$	3,220,000.00	$	130	
11/01/36	$	3,090,000.00	$	
05/01/37	$	3,090,000.00	$	135	
11/01/37	$	2,955,000.00	$	
05/01/38	$	2,955,000.00	$	140	
11/01/38	$	2,815,000.00	$	
05/01/39	$	2,815,000.00	$	150	
11/01/39	$	2,665,000.00	$	
05/01/40	$	2,665,000.00	$	155	
11/01/40	$	2,180,000.00	$	
05/01/41	$	2,180,000.00	$	160	
11/01/41	$	2,180,000.00	$	
05/01/42	$	2,180,000.00	$	170	
11/01/42	$	2,180,000.00	$	
05/01/43	$	2,180,000.00	$	175	
11/01/43	$	2,005,000.00	$	
05/01/44	$	2,005,000.00	$	185	
11/01/44	$	1,820,000.00	$	
05/01/45	$	1,820,000.00	$	195	
11/01/45	$	1,625,000.00	$	
05/01/46	$	1,625,000.00	$	200	
11/01/46	$	1,425,000.00	$	
05/01/47	$	1,425,000.00	$	210	
11/01/47	$	1,215,000.00	$	
05/01/48	$	1,215,000.00	$	220	
11/01/48	$	995,000.00	$	
05/01/49	$	995,000.00	$	230	
11/01/49	$	765,000.00	$	
05/01/50	$	765,000.00	$	245	
11/01/50	$	520,000.00	$	
05/01/51	$	520,000.00	$	255	
11/01/51	$	265,000.00	$	
05/01/52	$	265,000.00	$	265	
			
$	4,490	

$	102,004.38	$	102,004.38	
$	99,247.50	$	-	
$	97,785.00	$	272,032.50	
$	97,785.00	$	-	
$	96,225.00	$	274,010.00	
$	96,225.00	$	-	
$	94,665.00	$	270,890.00	
$	94,665.00	$	-	
$	93,007.50	$	272,672.50	
$	93,007.50	$	-	
$	91,252.50	$	274,260.00	
$	91,252.50	$	-	
$	89,396.25	$	270,648.75	
$	89,396.25	$	-	
$	87,436.88	$	271,833.13	
$	87,436.88	$	-	
$	85,374.38	$	272,811.25	
$	85,374.38	$	-	
$	83,208.75	$	273,583.13	
$	83,208.75	$	-	
$	80,940.00	$	274,148.75	
$	80,940.00	$	-	
$	78,410.00	$	274,350.00	
$	78,410.00	$	-	
$	75,770.00	$	274,180.00	
$	75,770.00	$	-	
$	73,020.00	$	273,790.00	
$	73,020.00	$	-	
$	70,160.00	$	273,180.00	
$	70,160.00	$	-	
$	67,190.00	$	272,350.00	
$	67,190.00	$	-	
$	64,110.00	$	271,300.00	
$	64,110.00	$	-	
$	60,810.00	$	274,920.00	
$	60,810.00	$	-	
$	57,400.00	$	273,210.00	
$	57,400.00	$	-	
$	53,880.00	$	271,280.00	
$	53,880.00	$	-	
$	50,140.00	$	274,020.00	
$	50,140.00	$	-	
$	46,115.00	$	271,255.00	
$	46,115.00	$	-	
$	41,860.00	$	272,975.00	
$	41,860.00	$	-	
$	37,375.00	$	274,235.00	
$	37,375.00	$	-	
$	32,775.00	$	270,150.00	
$	32,775.00	$	-	
$	27,945.00	$	270,720.00	
$	27,945.00	$	-	
$	22,885.00	$	270,830.00	
$	22,885.00	$	-	
$	17,595.00	$	270,480.00	
$	17,595.00	$	-	
$	11,960.00	$	274,555.00	
$	11,960.00	$	-	
$	6,095.00	$	273,055.00	
$	6,095.00	$	271,095.00	

-
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,000.00  $

3,790,824.38  $

8,280,824.38

Elevation Pointe
Community Development District Series 2022 A-2 Special Assessment Bonds Amortization Schedule

DATE		BALANCE	PRINCIPAL	INTEREST	TOTAL	
						
11/01/22	$	5,905,000.00	$	-	$	133,518.61	$	133,518.61	
05/01/23	$	5,905,000.00	$	-	$	129,910.00	$	-	
11/01/23	$	5,905,000.00	$	-	$	129,910.00	$	259,820.00	
05/01/24	$	5,905,000.00	$	-	$	129,910.00	$	-	
11/01/24	$	5,905,000.00	$	-	$	129,910.00	$	259,820.00	
05/01/25	$	5,905,000.00	$	-	$	129,910.00	$	-	
11/01/25	$	5,905,000.00	$	-	$	129,910.00	$	259,820.00	
05/01/26	$	5,905,000.00	$	-	$	129,910.00	$	-	
11/01/26	$	5,905,000.00	$	-	$	129,910.00	$	259,820.00	
05/01/27	$	5,905,000.00	$	-	$	129,910.00	$	-	
11/01/27	$	5,905,000.00	$	-	$	129,910.00	$	259,820.00	
05/01/28	$	5,905,000.00	$	-	$	129,910.00	$	-	
11/01/28	$	5,905,000.00	$	-	$	129,910.00	$	259,820.00	
05/01/29	$	5,905,000.00	$	-	$	129,910.00	$	-	
11/01/29	$	5,905,000.00	$	-	$	129,910.00	$	259,820.00	
05/01/30	$	5,905,000.00	$	-	$	129,910.00	$	-	
11/01/30	$	5,905,000.00	$	-	$	129,910.00	$	259,820.00	
05/01/31	$	5,905,000.00	$	-	$	129,910.00	$	-	
11/01/31	$	5,905,000.00	$	-	$	129,910.00	$	259,820.00	
05/01/32	$	5,905,000.00	$	5,905,000.00	$	129,910.00	$	6,034,910.00	
			$	5,905,000.00	$	2,601,808.61	$	8,506,808.61