Sandmine Road
Community  Development  District

Adopted Budget
FY2023

Table of Contents

1-2	General Fund	

3-5	

General Fund Narrative	

6	

Series 2020 Debt Service Fund	

7	

Series 2020 Amortization Schedule	

8	

Series 2021 Debt Service Fund	

9	

Series 2021 Amortization Schedule	

Sandmine Road
Community Development District Adopted Budget
General Fund

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2022	6/30/22	3 Months	9/30/22	FY2023	

Revenues						
Assessments - Tax Roll	$	95,926	$	91,279	$	4,647	$	95,926	$	414,692	
Assessments - Direct Bill	$	64,419	$	64,419	$	-	$	64,419	$	-	
Developer Contributions	$	59,346	$	19,020	$	-	$	19,020	$	-	
Total Revenues	$  219,691	$	174,719	$	4,647	$	179,366	$	414,692	

Expenditures						
General & Administrative						
Supervisor Fees	$	12,000	$	-	$	3,000	$	3,000	$	12,000	
FICA Expense	$	918	$	-	$	230	$	230	$	918	
Engineering	$	12,000	$	3,700	$	4,000	$	7,700	$	12,000	
Attorney	$	25,000	$	3,952	$	6,175	$	10,127	$	25,000	
Annual Audit	$	5,000	$	-	$	3,260	$	3,260	$	7,000	
Arbitrage Fees	$	1,000	$	-	$	450	$	450	$	1,350	
Dissemination Fees	$	7,000	$	5,250	$	1,750	$	7,000	$	8,000	
Trustee Fees	$	7,000	$	4,041	$	4,041	$	8,082	$	12,123	
Management Fees	$	36,050	$	27,038	$	9,012	$	36,050	$	37,853	
Information Technology	$	1,000	$	750	$	250	$	1,000	$	1,250	
Website Maintenance	$	500	$	375	$	125	$	500	$	625	
Telephone	$	300	$	-	$	50	$	50	$	300	
Postage	$	1,000	$	782	$	135	$	917	$	1,000	
Printing & Binding	$	1,000	$	245	$	82	$	327	$	1,000	
Office Supplies	$	625	$	31	$	15	$	47	$	625	
Insurance	$	5,500	$	5,175	$	-	$	5,175	$	5,822	
Legal Advertising	$	5,000	$	3,911	$	1,089	$	5,000	$	5,000	
Other Current Charges	$	1,500	$	332	$	165	$	497	$	1,500	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Boundary Amendment	$	-	$	7,287	$	-	$	7,287	$	-	
Total Administrative	$  122,568	$	63,044	$	33,828	$	96,873	$	133,541	

Sandmine Road
Community Development District Adopted Budget
General Fund

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2022	6/30/22	3 Months	9/30/22	FY2023	
Operations & Maintenance						
Field Expenses						
Property Insurance	$	5,000	$	-	$	5,000	$	5,000	$	5,000	
Field Management	$	10,000	$	7,500	$	2,500	$	10,000	$	10,500	
Landscape Maintenance	$	52,123	$	31,050	$	10,350	$	41,400	$	200,151	
Landscape Replacement	$	5,000	$	1,348	$	500	$	1,848	$	5,000	
Electric	$	5,000	$	-	$	5,000	$	5,000	$	5,000	
Water & Sewer	$	3,000	$	-	$	3,000	$	3,000	$	36,000	
Fountain Maintenance	$	7,000	$	3,900	$	2,300	$	6,200	$	7,000	
Irrigation Repairs	$	2,500	$	1,065	$	765	$	1,830	$	5,000	
General Repairs & Maintenance	$	5,000	$	-	$	1,000	$	1,000	$	5,000	
Contingency	$	2,500	$	-	$	500	$	500	$	2,500	
Subtotal Field Expenses	$	97,123	$	44,863	$	30,915	$	75,778	$	281,151	
						
Total Expenditures	$  219,691	$	107,907	$	64,743	$	172,651	$	414,692	
						
Excess Revenues/(Expenditures)	$	-	$	66,812	$	(60,097)	$	6,715	$	0	

	
Product	Assessable Units	Net Assessment	
Net Per Unit	
Gross Per Unit	
Tax Roll	
Townhouse - 25'	
272	
$	125,888	
$	462.82	
$	497.66	
	Single Family - 40'	245	$	120,952	$	493.68	$	530.84	
	Single Family - 50'	272	$	167,852	$	617.10	$	663.55	
Total Tax Roll	789		$	414,692	

FY2023 Gross
Product	Per Unit	FY2022 Gross Per Unit	
Increase		
Townhouse - 25'	$	497.66	$	301.00	$	196.66		
Single Family - 40'	$	530.84	$	321.00	$	209.84		
Single Family - 50'	$	663.55	$	401.00	$	262.55		

Sandmine Road Community Development District
General Fund Budget

REVENUES:

Assessments

The District will levy a non-ad valorem assessment on all assessable property within the District to fund all general operating and maintenance expenditures during the fiscal year.

EXPENDITURES:

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 Board of Supervisor checks.

Engineering

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

Attorney

The District's legal counsel will be providing general legal services to the District, e.g. attendance and preparation for monthly meetings, preparation and review of agreements, resolutions, etc.

Annual Audit

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

Arbitrage Fees

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on the Special Assessment Bond.

Dissemination Fees

The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(5) which relates to additional report requirements for unrated bond issues.

Trustee Fees

The District will pay annual fees for Series 2020 Special Assessment Revenue Bonds that are deposited with a Trustee at US Bank, N.A.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services.

Sandmine Road
Community Development District
General Fund Budget

Information Technology

Represents costs related to the District’s accounting and information systems, District’s website creation and maintenance, electronic compliance with Florida Statutes and other electronic data requirements.

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

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

Printing & Binding

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

Office Supplies

Miscellaneous office supplies.

Insurance

The District’s general liability, public officials liability and property insurance coverages.

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.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Florida Department of Economic Opportunity for $175. This is the only expense under this category for the District.

Operations & Maintenance:

Field Expenses:

Property Insurance

The District’s property insurance coverages.

Sandmine Road
Community Development District
General Fund Budget

Field Management

Represents the estimated costs of contracting services that provide onsite field management of contracts for the District such as landscape and lake maintenance. Services can include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Landscape Maintenance

Represents the estimated maintenance of the landscaping within the common areas of the District after the installation of landscape material has been completed.

Landscape Replacement

Represents the estimated cost of replacing landscaping within the common areas of the District.

Electric

Represents current and estimated electric charges of common areas throughout the District.

Water & Sewer

Represents current and estimated costs for water and refuse services provided for common areas throughout the District.

Fountain Maintenance

Represents the estimated costs of maintaining the fountains for the District.

Irrigation Repairs

Represents the cost of maintaining and repairing the irrigation system. This includes the sprinklers, and irrigation wells.

General Repairs & Maintenance

Represents estimated costs for general repairs and maintenance of the District’s common areas.

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any field category.

Sandmine Road
Community Development District Adopted Budget
Debt Service Fund Series 2020

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2022	6/30/22	3 Months	9/30/22	FY2023	

Revenues						
Assessments	$	363,719	$	346,101	$	17,618	$	363,719	$	363,719	
Interest	$	-	$	50	$	17	$	67	$	-	
Carry Forward Surplus (1)	$	117,848	$	117,845	$	-	$	117,845	$	118,249	
Total Revenues	$	481,567	$	463,997	$	17,634	$	481,631	$	481,968	

Expenditures						
Interest - 11/1	$	114,175	$	114,175	$	-	$	114,175	$	112,403	
Principal - 5/1	$	135,000	$	135,000	$	-	$	135,000	$	140,000	
Interest - 5/1	$	114,175	$	114,175	$	-	$	114,175	$	112,403	
Total Expenditures	$	363,350	$	363,350	$	-	$	363,350	$	364,806	

Other Sources/(Uses)						

Transfer In/Out	$	-	$	(32)	
$	-	
$	(32)	
$	-	
Total Other Sources/(Uses)	$	-	$	(32)	$	-	$	(32)	$	-	

Excess Revenues/(Expenditures)	$	118,217	$	100,614	$

17,634	$

118,249	$	117,161

Interest - 11/1 $	110,565.63

(1) Carryforward Surplus is net of Debt Service Reserve Funds

Product	Assessable Units	Net Assessment	Net Per Unit	Gross Per Unit	
Townhouse - 25'	122	$	88,989	$	729.42	$	784.32	
Single Family - 40'	92	$	122,052	$	1,326.65	$	1,426.51	
Single Family - 50'	92	$	152,678	$	1,659.54	$	1,784.45	
Total Tax Roll	306	$	363,719			

Sandmine Road Community Development District Series 2020 Special Assessment Bonds
AMORTIZATION SCHEDULE

DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL

11/01/22	$	6,325,000.00	$	
05/01/23	$	6,325,000.00	$	140	
11/01/23	$	6,185,000.00	$	
05/01/24	$	6,185,000.00	$	140	
11/01/24	$	6,045,000.00	$	
05/01/25	$	6,045,000.00	$	145	
11/01/25	$	5,900,000.00	$	
05/01/26	$	5,900,000.00	$	150	
11/01/26	$	5,750,000.00	$	
05/01/27	$	5,750,000.00	$	155	
11/01/27	$	5,595,000.00	$	
05/01/28	$	5,595,000.00	$	160	
11/01/28	$	5,435,000.00	$	
05/01/29	$	5,435,000.00	$	165	
11/01/29	$	5,270,000.00	$	
05/01/30	$	5,270,000.00	$	170	
11/01/30	$	5,100,000.00	$	
05/01/31	$	5,100,000.00	$	175	
11/01/31	$	4,925,000.00	$	
05/01/32	$	4,925,000.00	$	180	
11/01/32	$	4,745,000.00	$	
05/01/33	$	4,745,000.00	$	190	
11/01/33	$	4,555,000.00	$	
05/01/34	$	4,555,000.00	$	195	
11/01/34	$	4,360,000.00	$	
05/01/35	$	4,360,000.00	$	205	
11/01/35	$	4,155,000.00	$	
05/01/36	$	4,155,000.00	$	210	
11/01/36	$	3,945,000.00	$	
05/01/37	$	3,945,000.00	$	220	
11/01/37	$	3,725,000.00	$	
05/01/38	$	3,725,000.00	$	225	
11/01/38	$	3,500,000.00	$	
05/01/39	$	3,500,000.00	$	235	
11/01/39	$	3,265,000.00	$	
05/01/40	$	3,265,000.00	$	245	
11/01/40	$	3,020,000.00	$	
05/01/41	$	3,020,000.00	$	255	
11/01/41	$	2,765,000.00	$	
05/01/42	$	2,765,000.00	$	265	
11/01/42	$	2,500,000.00	$	
05/01/43	$	2,500,000.00	$	275	
11/01/43	$	2,225,000.00	$	
05/01/44	$	2,225,000.00	$	285	
11/01/44	$	1,940,000.00	$	
05/01/45	$	1,940,000.00	$	295	
11/01/45	$	1,645,000.00	$	
05/01/46	$	1,645,000.00	$	305	
11/01/46	$	1,340,000.00	$	
05/01/47	$	1,340,000.00	$	315	
11/01/47	$	1,025,000.00	$	
05/01/48	$	1,025,000.00	$	330	
11/01/48	$	695,000.00	$	
05/01/49	$	695,000.00	$	340	
11/01/49	$	355,000.00	$	
05/01/50	$	355,000.00	$	355	
			$	6,325	

$	112,403.13	$	361,578.13	
$	112,403.13	$	-	
$	110,565.63	$	362,968.75	
$	110,565.63	$	-	
$	108,728.13	$	359,293.75	
$	108,728.13	$	-	
$	106,825.00	$	360,553.13	
$	106,825.00	$	-	
$	104,481.25	$	361,306.25	
$	104,481.25	$	-	
$	102,059.38	$	361,540.63	
$	102,059.38	$	-	
$	99,559.38	$	361,618.75	
$	99,559.38	$	-	
$	96,981.25	$	361,540.63	
$	96,981.25	$	-	
$	94,325.00	$	361,306.25	
$	94,325.00	$	-	
$	91,153.13	$	360,478.13	
$	91,153.13	$	-	
$	87,890.63	$	359,043.75	
$	87,890.63	$	-	
$	84,446.88	$	362,337.50	
$	84,446.88	$	-	
$	80,912.50	$	360,359.38	
$	80,912.50	$	-	
$	77,196.88	$	363,109.38	
$	77,196.88	$	-	
$	73,390.63	$	360,587.50	
$	73,390.63	$	-	
$	69,403.13	$	362,793.75	
$	69,403.13	$	-	
$	65,325.00	$	359,728.13	
$	65,325.00	$	-	
$	61,065.63	$	361,390.63	
$	61,065.63	$	-	
$	56,625.00	$	362,690.63	
$	56,625.00	$	-	
$	51,843.75	$	363,468.75	
$	51,843.75	$	-	
$	46,875.00	$	363,718.75	
$	46,875.00	$	-	
$	41,718.75	$	363,593.75	
$	41,718.75	$	-	
$	36,375.00	$	363,093.75	
$	36,375.00	$	-	
$	30,843.75	$	362,218.75	
$	30,843.75	$	-	
$	25,125.00	$	360,968.75	
$	25,125.00	$	-	
$	19,218.75	$	359,343.75	
$	19,218.75	$	-	
$	13,031.25	$	362,250.00	
$	13,031.25	$	-	
$	6,656.25	$	359,687.50	
$	6,656.25	$	361,656.25	

-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00

,000.00  $

3,910,050.12  $

10,484,225.12

Sandmine Road
Community Development District Adopted Budget
Debt Service Fund Series 2021

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2022	6/30/22	3 Months	9/30/22	FY2023	

Revenues

Assessments - Direct	$	-	$	417,894	$	-	$	417,894	$	
Interest	$	-	$	67	$	22	$	89	$	
Carry Forward Surplus (1)	$	-	$	-	$	-	$	-	$	

419,274
- 285,058

Total Revenues	$	-	$	417,961	$	22	$	417,983	$	704,332	

Expenditures					

Interest - 11/1	
$	-	$	-	$	-	$	-	$	130,003	
Principal - 11/1	$	-	$	-	$	-	$	-	$	155,000	
Interest - 5/1	$	-	$	132,891	$	-	$	132,891	$	128,220	
Total Expenditures	$	-	$	132,891	$	-	$	132,891	$	413,223	

Other Sources/(Uses)					
Bond Proceeds	$	-	$	209,638	$	-	$	209,638	$	-	
Transfer In/Out	$	-	$	(33)	$	-	$	(33)	$	-	
Total Other Sources/(Uses)	$	-	$	209,604	$	-	$	209,604	$	-	
					
Excess Revenues/(Expenditures)	$	-	$	494,673	$	22	$	494,695	$	291,109	

	Interest - 11/1	$	128,220.00	
	Principal - 11/1	 $	160,000.00 	
(1) Carryforward Surplus is net of Debt Service Reserve Funds	Total	 $	288,220.00 	

Product	Assessable Units	Net Assessment	Net Per Unit	Gross Per Unit	
Townhouse - 25'	72	$	52,530	$	729.58	$	784.50	
Single Family - 40'	105	$	139,332	$	1,326.97	$	1,426.85	
Single Family - 50'	137	$	227,412	$	1,659.94	$	1,784.88	
Total Tax Roll	314	$	419,274			

Sandmine Road Community Development District Series 2021 Special Assessment Bonds
Amortization Schedule

Date	Balance	Prinicpal	Interest	Total

05/01/22	$

7,495,000.00  $

-	$	132,891.44

11/01/22
05/01/23

$
$

7,495,000.00  $
7,340,000.00  $

155,000.00  $

-

$

130,002.50  $
128,220.00

417,893.94

11/01/23	$
05/01/24	$
11/01/24	$
05/01/25	$
11/01/25	$
05/01/26	$
11/01/26	$
05/01/27	$
11/01/27	$
05/01/28	$
11/01/28	$
05/01/29	$
11/01/29	$
05/01/30	$
11/01/30	$
05/01/31	$
11/01/31	$
05/01/32	$
11/01/32	$
05/01/33	$
11/01/33	$
05/01/34	$
11/01/34	$
05/01/35	$
11/01/35	$
05/01/36	$
11/01/36	$
05/01/37	$
11/01/37	$
05/01/38	$
11/01/38	$
05/01/39	$
11/01/39	$
05/01/40	$
11/01/40	$
05/01/41	$
11/01/41	$
05/01/42	$
11/01/42	$
05/01/43	$
11/01/43	$
05/01/44	$
11/01/44	$
05/01/45	$
11/01/45	$
05/01/46	$
11/01/46	$
05/01/47	$
11/01/47	$
05/01/48	$
11/01/48	$
05/01/49	$
11/01/49	$
05/01/50	$
11/01/50	$
05/01/51	$
11/01/51	$

7,340,000.00  $
7,180,000.00  $
7,180,000.00  $
7,015,000.00  $
7,015,000.00  $
6,845,000.00  $
6,845,000.00  $
6,675,000.00  $
6,675,000.00  $
6,500,000.00  $
6,500,000.00  $
6,320,000.00  $
6,320,000.00  $
6,135,000.00  $
6,135,000.00  $
5,945,000.00  $
5,945,000.00  $
5,745,000.00  $
5,745,000.00  $
5,540,000.00  $
5,540,000.00  $
5,330,000.00  $
5,330,000.00  $
5,115,000.00  $
5,115,000.00  $
4,890,000.00  $
4,890,000.00  $
4,660,000.00  $
4,660,000.00  $
4,420,000.00  $
4,420,000.00  $
4,175,000.00  $
4,175,000.00  $
3,920,000.00  $
3,920,000.00  $
3,655,000.00  $
3,655,000.00  $
3,380,000.00  $
3,380,000.00  $
3,100,000.00  $
3,100,000.00  $
2,805,000.00  $
2,805,000.00  $
2,500,000.00  $
2,500,000.00  $
2,185,000.00  $
2,185,000.00  $
1,855,000.00  $
1,855,000.00  $
1,510,000.00  $
1,510,000.00  $
1,155,000.00  $
1,155,000.00  $
785,000.00  $
785,000.00  $
400,000.00  $
400,000.00  $

160,000.00  $
$
165,000.00  $
$
170,000.00  $
$
170,000.00  $
$
175,000.00  $
$
180,000.00  $
$
185,000.00  $
$
190,000.00  $
$
200,000.00  $
$
205,000.00  $
$
210,000.00  $
$
215,000.00  $
$
225,000.00  $
$
230,000.00  $
$
240,000.00  $
$
245,000.00  $
$
255,000.00  $
$
265,000.00  $
$
275,000.00  $
$
280,000.00  $
$
295,000.00  $
$
305,000.00  $
$
315,000.00  $
$
330,000.00  $
$
345,000.00  $
$
355,000.00  $
$
370,000.00  $
$
385,000.00  $
$
400,000.00  $

128,220.00  $
126,380.00
126,380.00  $
124,482.50
124,482.50  $
122,527.50
122,527.50  $
120,572.50
120,572.50  $
117,947.50
117,947.50  $
115,247.50
115,247.50  $
112,472.50
112,472.50  $
109,622.50
109,622.50  $
106,622.50
106,622.50  $
103,240.00
103,240.00  $
99,775.00
99,775.00  $
96,227.50
96,227.50  $
92,515.00
92,515.00  $
88,720.00
88,720.00  $
84,760.00
84,760.00  $
80,717.50
80,717.50  $
76,510.00
76,510.00  $
72,137.50
72,137.50  $
67,600.00
67,600.00  $
62,000.00
62,000.00  $
56,100.00
56,100.00  $
50,000.00
50,000.00  $
43,700.00
43,700.00  $
37,100.00
37,100.00  $
30,200.00
30,200.00  $
23,100.00
23,100.00  $
15,700.00
15,700.00  $
8,000.00
8,000.00  $

416,440.00

417,760.00

418,965.00

415,055.00

416,145.00

415,895.00

415,495.00

414,945.00

419,245.00

418,245.00

416,480.00

414,550.00

417,455.00

415,030.00

417,440.00

414,520.00

416,435.00

418,020.00

419,275.00

415,200.00

419,000.00

417,200.00

415,000.00

417,400.00

419,200.00

415,400.00

416,200.00

416,400.00

416,000.00

$	7,495,000.00  $	4,874,397.50  $	12,502,288.94