North Boulevard
Community Development District

Proposed Budget
FY 2026

Table of Contents

1-2		General Fund	

3-6	
	General Fund Narrative	

7	
	Series 2017 Debt Service Fund	

8	
	Series 2017 Amortization Schedule	

9	
	Series 2019 Debt Service Fund	

10	
	Series 2019 Amortization Schedule	

11	
	Capital Reserve Fund	

North Boulevard
Community Development District
Proposed Budget General Fund

	Adopted
Budget	Actuals
Thru	Projected
Next	Projected
Thru	Proposed
Budget	
Description	FY2025	2/28/25	7 Months	9/30/25	FY2026	

Revenues						
Assessments - On Roll	$	431,702	$	423,313	$	8,389	$	431,702	$	531,702	
Other Income	$	-	$	30	$	-	$	30	$	-	
Total Revenues	$	431,702	$	423,343	$	8,389	$	431,732	$	531,702	

Expenditures						
Administrative						
Supervisor Fees	$	12,000	$	1,200	$	8,000	$	9,200	$	12,000	
FICA Expense	$	-	$	15	$	612	$	627	$	918	
Engineering Fees	$	10,000	$	2,490	$	4,103	$	6,593	$	10,000	
Dissemination Agent	$	6,825	$	2,844	$	3,981	$	6,825	$	7,030	
Attorney Fees	$	19,000	$	9,338	$	13,073	$	22,411	$	25,000	
Assessment Administration	$	5,250	$	5,250	$	-	$	5,250	$	5,408	
Annual Audit	$	4,900	$	-	$	4,900	$	4,900	$	5,000	
Trustee Fees	$	7,780	$	3,717	$	4,041	$	7,758	$	8,514	
Management Fees	$	45,000	$	18,750	$	26,250	$	45,000	$	46,350	
Information Technology	$	1,890	$	788	$	1,103	$	1,890	$	1,947	
Website Maintenance	$	1,260	$	525	$	735	$	1,260	$	1,298	
Postage & Delivery	$	1,100	$	287	$	455	$	742	$	1,100	
Telephone	$	50	$	-	$	50	$	50	$	-	
Printing & Binding	$	400	$	53	$	50	$	103	$	400	
Insurance	$	8,455	$	7,296	$	-	$	7,296	$	8,390	
Legal Advertising	$	5,000	$	959	$	2,629	$	3,588	$	5,000	
Contingency	$	3,000	$	242	$	665	$	907	$	3,000	
Office Supplies	$	100	$	1	$	25	$	26	$	100	
Dues, Licenses & Fees	$	175	$	175	$	-	$	175	$	175	
Total Administrative	$	132,185	$	53,930	$	70,671	$	124,601	$	141,629	

North Boulevard
Community Development District
Proposed Budget General Fund

Adopted
Budget	Actuals
Thru	Projected
Next	Projected
Thru	Proposed
Budget	
Description	FY2025	2/28/25	7 Months	9/30/25	FY2026	

Operation and Maintenance						
Field Expenditures
Field Management	
$	8,348	
$	3,478	
$	4,869	
$	8,348	
$	8,598	
Electric	$	9,490	$	2,359	$	4,060	$	6,419	$	9,490	
Streetlights	$	30,418	$	9,246	$	17,500	$	26,746	$	30,418	
Property Insurance	$	6,333	$	5,064	$	-	$	5,064	$	5,824	
Landscape Maintenance	$	58,860	$	19,620	$	39,240	$	58,860	$	60,626	
Landscape Replacement & Enhancement	$	20,000	$	18,000	$	-	$	18,000	$	20,000	
Irrigation Repairs	$	5,500	$	5,395	$	105	$	5,500	$	5,500	
General Field Repairs & Maintenance	$	15,000	$	18,170	$	2,500	$	20,670	$	20,000	
Contingency	$	10,000	$	-	$	5,000	$	5,000	$	10,000	
Subtotal	 $	163,948	$	81,333	$	73,274	$	154,607	$	170,455 	

Amenity Expenditures		
Inter-Governmental Expense	$	92,509	$	-	$	92,509	$	92,509	$	78,374	
Trash Collection	$	2,100	$	869	$	1,217	$	2,086	$	2,793	

Pest Control

Subtotal

 $	960	$	-	$	960	$	960	$	960 
 $	95,569	$	869	$	94,686	$	95,555	$	82,127 

Subtotal Operations & Maintenance	$	259,517	$	82,202	$	167,959	$	250,161	$	252,582	

Other Financing Sources/Uses:
Capital Reserve	

$	40,000	

$	-	

$	40,000	

$	40,000	

$	137,490	
Total Other Financing Sources/Uses	$	40,000	$	-	$	40,000	$	40,000	$	137,490	
						
Total Expenditures	$	431,702	$	136,132	$	278,630	$	414,762	$	531,702	
						
Excess Revenues/(Expenditures)	$	-	$	287,211	$  (270,242)	$	16,969	$	-	

Net Assessments	$531,702	
Add: Discounts & Collections 7%	$40,021	
Gross Assessments	$571,722	

Product	ERU's	Assessable Units	ERU/Unit	Net Assessment	Net Per Unit	Gross Per Unit	
Platted	389.00	389.00	1.00	$531,701.80	$1,366.84	$1,469.72	

FY 2026 Gross FY 2025 Gross Per

Product

Per Unit

Unit

Increase/(Decrease)

Platted

$	1,469.72  $

1,193.30  $

276.42

North Boulevard 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. Amount is based on 5 Supervisors attending 5 meetings during the fiscal year.

FICA Expense

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

Engineering Fees

The District's engineer will provide general engineering services to the District, e.g. 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 15c2-12(b)(5) which relates to additional reporting requirements for unrated bond issues. This cost is based upon the Series 2019 and 2022 bond series. Governmental Management Services – Central Florida, LLC completes these reporting requirements.

Attorney Fees

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

Assessment Administration

The District is contracted with Governmental Management Services – Central Florida, LLC to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Annual Audit

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

Trustee Fees

The District will pay annual trustee fees for the Series 2017 and Series 2019 bonds.

North Boulevard Community Development District
General Fund Budget

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 various cost of information technology for the District such as video conferencing, cloud storage and servers, positive pay implementation and programming for fraud protection, accounting software, tablets for meetings, Adobe, Microsoft Office, etc. Governmental Management Services – Central Florida, LLC provides these systems.

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. Governmental Management Services – Central Florida, LLC provides these services.

Postage & Delivery

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.

Insurance

The District’s general liability and public official’s liability insurance coverage is provided by the Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Legal Advertising

The District is required to advertise various notices for monthly Board meetings, public hearings, etc in a newspaper of general circulation.

Contingency

Bank charges and any other miscellaneous expenses incurred during the year.

Office Supplies

Costs for general office supplies needed for the district.

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.

North Boulevard Community Development District
General Fund Budget

Operation and Maintenance Field Expenditures:

Field Management

The District is contracted with Governmental Management Services-Central Florida, LLC for onsite field management of contracts for the District such as landscape and lake maintenance. Services include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Electric

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

Street Lights

Encompasses the budgeted amount for the District’s decorative light poles and fixtures in various locations.

Property Insurance

The District’s property insurance coverage is provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Landscape Maintenance

Represents the maintenance of the landscaping within the common areas of the District.

Landscape Replacement & Enhancement

Represents the estimated cost of replacing landscaping within the common areas of the District. This includes annual mulching and yearly general plant and sod replacements.

Irrigation Repairs

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

General Field Repairs & Maintenance

The estimated costs that the District will incur for repairs and maintenance. This includes sidewalks, roads, fences, lighting features, and monuments.

Contingency

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

North Boulevard Community Development District
General Fund Budget

Amenity Expenses

Inter-Governmental Expense – Holly Hill Road East CDD

The District entered into an Interlocal Agreement with Holly Hill Road East Community Development District (CDD) for the use of their amenity facilities. This cost is based on the overall amenity budget of Holly Hill Road East CDD.

Trash Collection

Represents the cost incurred for waste collection throughout the district.

Pest Control

Represents the cost incurred for pest control throughout the district.

Playground Improvements

Represents the cost incurred for the playground.

Other Financing Sources/Uses

Capital Reserve

Represents projected excess funds transfer out to the Capital Reserve Fund

North Boulevard
Community Development District Proposed Budget
Debt Service Fund Series 2017	
	Adopted
Budget	Actuals
Thru	Projected
Next	Projected
Thru	Proposed
Budget	
Description	FY2025	2/28/25	7 Months	9/30/25	FY2026	

Revenues						
Assessments - Tax Roll	$	258,211	$	253,194	$	-	$	253,194	$	258,211	
Interest	$	6,000	$	4,600	$	9,201	$	13,801	$	6,000	
Carry Forward Surplus (1)	$	161,143	$	161,846	$	-	$	161,846	$	183,391	
Total Revenues	$	425,354	$	419,641	$	9,201	$	428,842	$	447,602	

Expenditures						
Interest - 11/1	$	82,726	$	82,726	$	-	$	82,726	$	81,086	
Principal - 5/1	$	80,000	$	-	$	80,000	$	80,000	$	85,000	
Interest - 5/1	$	82,726	$	-	$	82,726	$	82,726	$	81,086	
Total Expenditures	$	245,451	$	82,726	$	162,726	$	245,451	$	247,171	
						
Excess Revenues/(Expenditures)	$	179,902	$	336,915	$	(153,525)	$	183,391	$	200,430	
				
Interest - 11/1	
 $	79,343.13	

(1) Carryforward Surplus is net of Debt Servi	
ce Reserve Funds			Total	$	79,343.13	
Product	Assessable Units	Net Assessment	Net Per Unit	Gross Per Unit		
Single Family	44.00	$46,904.14	$1,066.00	$1,146.24		
Single Family	35.00	$45,536.15	$1,301.03	$1,398.96		
Single Family	137.00	$165,770.60	$1,210.00	$1,301.08		
		$258,210.89				

North Boulevard Community Development District Series 2017 Special Assessment Bonds
Amortization Schedule

Date		Balance	Prinicpal	Interest	Total	

05/01/25	
$	
3,460,000.00  $	
80,000.00  $	
82,725.63		
11/01/25	$	3,380,000.00  $	-	$	81,085.63  $	243,811.25	
05/01/26	$	3,380,000.00  $	85,000.00  $	81,085.63		
11/01/26	$	3,295,000.00  $	-	$	79,343.13  $	245,428.75	
05/01/27	$	3,295,000.00  $	90,000.00  $	79,343.13		
11/01/27	$	3,205,000.00  $	-	$	77,498.13  $	246,841.25	
05/01/28	$	3,205,000.00  $	90,000.00  $	77,498.13		
11/01/28	$	3,115,000.00  $	-	$	75,653.13  $	243,151.25	
05/01/29	$	3,115,000.00  $	95,000.00  $	75,653.13		
11/01/29	$	3,020,000.00  $	-	$	73,456.25  $	244,109.38	
05/01/30	$	3,020,000.00  $	100,000.00  $	73,456.25		
11/01/30	$	2,920,000.00  $	-	$	71,143.75  $	244,600.00	
05/01/31	$	2,920,000.00  $	105,000.00  $	71,143.75		
11/01/31	$	2,815,000.00  $	-	$	68,715.63  $	244,859.38	
05/01/32	$	2,815,000.00  $	110,000.00  $	68,715.63		
11/01/32	$	2,705,000.00  $	-	$	66,171.88  $	244,887.50	
05/01/33	$	2,705,000.00  $	115,000.00  $	66,171.88		
11/01/33	$	2,590,000.00  $	-	$	63,512.50  $	244,684.38	
05/01/34	$	2,590,000.00  $	120,000.00  $	63,512.50		
11/01/34	$	2,470,000.00  $	-	$	60,737.50  $	244,250.00	
05/01/35	$	2,470,000.00  $	125,000.00  $	60,737.50		
11/01/35	$	2,345,000.00  $	-	$	57,846.88  $	243,584.38	
05/01/36	$	2,345,000.00  $	130,000.00  $	57,846.88		
11/01/36	$	2,215,000.00  $	-	$	54,840.63  $	242,687.50	
05/01/37	$	2,215,000.00  $	140,000.00  $	54,840.63		
11/01/37	$	2,075,000.00  $	-	$	51,603.13  $	246,443.75	
05/01/38	$	2,075,000.00  $	145,000.00  $	51,603.13		
11/01/38	$	1,930,000.00  $	-	$	48,250.00  $	244,853.13	
05/01/39	$	1,930,000.00  $	155,000.00  $	48,250.00		
11/01/39	$	1,775,000.00  $	-	$	44,375.00  $	247,625.00	
05/01/40	$	1,775,000.00  $	160,000.00  $	44,375.00		
11/01/40	$	1,615,000.00  $	-	$	40,375.00  $	244,750.00	
05/01/41	$	1,615,000.00  $	170,000.00  $	40,375.00		
11/01/41	$	1,445,000.00  $	-	$	36,125.00  $	246,500.00	
05/01/42	$	1,445,000.00  $	175,000.00  $	36,125.00		
11/01/42	$	1,270,000.00  $	-	$	31,750.00  $	242,875.00	
05/01/43	$	1,270,000.00  $	185,000.00  $	31,750.00		
11/01/43	$	1,085,000.00  $	-	$	27,125.00  $	243,875.00	
05/01/44	$	1,085,000.00  $	195,000.00  $	27,125.00		
11/01/44	$	890,000.00  $	-	$	22,250.00  $	244,375.00	
05/01/45	$	890,000.00  $	205,000.00  $	22,250.00		
11/01/45	$	685,000.00  $	-	$	17,125.00  $	244,375.00	
05/01/46	$	685,000.00  $	215,000.00  $	17,125.00		
11/01/46	$	470,000.00  $	-	$	11,750.00  $	243,875.00	
05/01/47	$	470,000.00  $	230,000.00  $	11,750.00		
11/01/47	$	240,000.00  $	-	$	6,000.00  $	247,750.00	
05/01/48	$	240,000.00  $	240,000.00  $	6,000.00  $	246,000.00	
		$	3,460,000.00  $	2,416,191.88  $	5,876,191.88	

North Boulevard
Community Development District Proposed Budget
Debt Service Fund Series 2019

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2025	2/28/25	7 Months	9/30/25	FY2026	

Revenues						
Assessments - Tax Roll	$	209,762	$	205,687	$	-	$	205,687	$	209,762	
Interest	$	5,000	$	3,668	$	7,337	$	11,005	$	5,000	
Carry Forward Surplus (1)	$	159,358	$	160,169	$	-	$	160,169	$	167,293	
Total Revenues	$	374,120	$	369,524	$	7,337	$	376,861	$	382,055	

Expenditures						
Interest - 11/1	$	77,869	$	77,869	$	-	$	77,869	$	76,700	
Principal - 11/1	$	55,000	$	55,000	$	-	$	55,000	$	55,000	
Interest - 5/1	$	76,700	$	-	$	76,700	$	76,700	$	75,394	
Total Expenditures	$	209,569	$	132,869	$	76,700	$	209,569	$	207,094	
						
Excess Revenues/(Expenditures)	$	164,551	$	236,656	$	(69,363)	$	167,293	$	174,961	
				
Interest - 11/1	
$	75,393.75	
				Principal - 11/1	 $	60,000.00	

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

Total  $

135,393.75

Product	Assessable Units	Net Assessment	Net Per Unit	Gross Per Unit	
Single Family	173.00	$209,761.95	$1,212.50	$1,303.76	
		$209,761.95			

North Boulevrd Community Development District Series 2019 Special Assessment Bonds
Amortization Schedule

Date		Balance		Prinicpal		Interest		Total	

05/01/25	

$	

2,795,000.00	

$	

-	

$	

76,700.00			
11/01/25	$	2,795,000.00	$	55,000.00	$	76,700.00	$	208,400.00	
05/01/26	$	2,740,000.00	$	-	$	75,393.75			
11/01/26	$	2,740,000.00	$	60,000.00	$	75,393.75	$	210,787.50	
05/01/27	$	2,680,000.00	$	-	$	73,968.75			
11/01/27	$	2,680,000.00	$	60,000.00	$	73,968.75	$	207,937.50	
05/01/28	$	2,620,000.00	$	-	$	72,543.75			
11/01/28	$	2,620,000.00	$	65,000.00	$	72,543.75	$	210,087.50	
05/01/29	$	2,555,000.00	$	-	$	71,000.00			
11/01/29	$	2,555,000.00	$	65,000.00	$	71,000.00	$	207,000.00	
05/01/30	$	2,490,000.00	$	-	$	69,456.25			
11/01/30	$	2,490,000.00	$	70,000.00	$	69,456.25	$	208,912.50	
05/01/31	$	2,420,000.00	$	-	$	67,531.25			
11/01/31	$	2,420,000.00	$	75,000.00	$	67,531.25	$	210,062.50	
05/01/32	$	2,345,000.00	$	-	$	65,468.75			
11/01/32	$	2,345,000.00	$	80,000.00	$	65,468.75	$	210,937.50	
05/01/33	$	2,265,000.00	$	-	$	63,268.75			
11/01/33	$	2,265,000.00	$	85,000.00	$	63,268.75	$	211,537.50	
05/01/34	$	2,180,000.00	$	-	$	60,931.25			
11/01/34	$	2,180,000.00	$	90,000.00	$	60,931.25	$	211,862.50	
05/01/35	$	2,090,000.00	$	-	$	58,456.25			
11/01/35	$	2,090,000.00	$	95,000.00	$	58,456.25	$	211,912.50	
05/01/36	$	1,995,000.00	$	-	$	55,843.75			
11/01/36	$	1,995,000.00	$	95,000.00	$	55,843.75	$	206,687.50	
05/01/37	$	1,900,000.00	$	-	$	53,231.25			
11/01/37	$	1,900,000.00	$	105,000.00	$	53,231.25	$	211,462.50	
05/01/38	$	1,795,000.00	$	-	$	50,343.75			
11/01/38	$	1,795,000.00	$	110,000.00	$	50,343.75	$	210,687.50	
05/01/39	$	1,685,000.00	$	-	$	47,318.75			
11/01/39	$	1,685,000.00	$	115,000.00	$	47,318.75	$	209,637.50	
05/01/40	$	1,570,000.00	$	-	$	44,156.25			
11/01/40	$	1,570,000.00	$	120,000.00	$	44,156.25	$	208,312.50	
05/01/41	$	1,450,000.00	$	-	$	40,781.25			
11/01/41	$	1,450,000.00	$	130,000.00	$	40,781.25	$	211,562.50	
05/01/42	$	1,320,000.00	$	-	$	37,125.00			
11/01/42	$	1,320,000.00	$	135,000.00	$	37,125.00	$	209,250.00	
05/01/43	$	1,185,000.00	$	-	$	33,328.13			
11/01/43	$	1,185,000.00	$	145,000.00	$	33,328.13	$	211,656.25	
05/01/44	$	1,040,000.00	$	-	$	29,250.00			
11/01/44	$	1,040,000.00	$	150,000.00	$	29,250.00	$	208,500.00	
05/01/45	$	890,000.00	$	-	$	25,031.25			
11/01/45	$	890,000.00	$	160,000.00	$	25,031.25	$	210,062.50	
05/01/46	$	730,000.00	$	-	$	20,531.25			
11/01/46	$	730,000.00	$	170,000.00	$	20,531.25	$	211,062.50	
05/01/47	$	560,000.00	$	-	$	15,750.00			
11/01/47	$	560,000.00	$	175,000.00	$	15,750.00	$	206,500.00	
05/01/48	$	385,000.00	$	-	$	10,828.13			
11/01/48	$	385,000.00	$	185,000.00	$	10,828.13	$	206,656.25	
05/01/49	$	200,000.00	$	-	$	5,625.00			
11/01/49	$	200,000.00	$	200,000.00	$	5,625.00	$	211,250.00	
			$	2,795,000.00	$	2,447,725.00	$	5,242,725.00	

North Boulevard
Community Development District
Proposed Budget Capital Reserve Fund

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2025	2/28/25	7 Months	9/30/25	FY2026	
Revenues					
Interest	$	-	$	10	$	-	$	10	$	-	
Carry Forward Surplus	$	9,275	$	-	$	-	$	-	$	40,010	
Total Revenues	$	9,275	$	10	$	-	$	10	$	40,010	

Expenditures					
Reserve Study	$	-	$	-	$	-	$	-	$	5,000	
Contingency	$	-	$	-	$	-	$	-	$	-	
Total Expenditures	$	-	$	-	$	-	$	-	$	5,000	

Other Financing Sources/Uses:					
Transfer In	$	40,000	$	-	$	40,000	$	40,000	$	137,490	
Total Other Financing Sources/Uses	$	40,000	$	-	$	40,000	$	40,000	$	137,490	
					
Excess Revenues/(Expenditures)	$	49,275	$	10	$	40,000	$	40,010	$	172,500