Davenport Road South
Community Development District

Adopted Budget
FY 2027

Table of Contents

1-2		General Fund	

3-7	
	General Fund Narrative	

8	
	Series 2018 Debt Service Fund	

9	
	Series 2018 Amortization Schedule	
10		Capital Reserve Fund	
11		Amenity Capital Reserve Fund	

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2026	4/30/26	5 Months	9/30/26	FY2027	
Revenues						
Assessments - On Roll	$	355,842	$	353,215	$	2,628	$	355,842	$	355,842	
Contribution from HM West	$	104,336	$	104,336	$	-	$	104,336	$	102,301	
Interest Income	$	-	$	11,397	$	3,117	$	14,513	$	7,000	
Carry Forward Surplus	$	-	$	204,683	$	-	$	204,683	$	295,501	
Total Revenues	$	460,179	$	673,630	$	5,744	$	679,375	$	760,644	

Expenditures						
Administrative						
Supervisor Fees	$	12,000	$	5,000	$	4,000	$	9,000	$	12,000	
FICA Expense	$	918	$	383	$	306	$	689	$	918	
Engineering	$	10,000	$	863	$	3,333	$	4,195	$	10,000	
Dissemination Fees	$	5,408	$	3,155	$	2,253	$	5,408	$	5,678	
Attorney Fees	$	18,000	$	6,448	$	5,607	$	12,055	$	18,000	
Assessment Administration	$	5,408	$	5,408	$	-	$	5,408	$	5,678	
Annual Audit	$	4,500	$	-	$	4,500	$	4,500	$	4,600	
Trustee Fees	$	4,446	$	4,095	$	-	$	4,095	$	4,446	
Management Fees	$	46,350	$	27,038	$	19,313	$	46,350	$	48,668	
Information Technology	$	1,622	$	946	$	676	$	1,622	$	1,703	
Website Maintenance	$	1,622	$	946	$	676	$	1,622	$	1,703	
Postage	$	850	$	269	$	131	$	400	$	850	
Printing & Binding	$	150	$	48	$	102	$	150	$	150	
Insurance	$	8,390	$	7,734	$	-	$	7,734	$	8,507	
Legal Advertising	$	5,000	$	2,257	$	2,332	$	4,589	$	5,000	
Contingency	$	2,500	$	205	$	552	$	757	$	2,500	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total Administrative	$	127,339	$	64,967	$	43,780	$	108,747	$	130,577	

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2026	4/30/26	5 Months	9/30/26	FY2027	

Operation and Maintenance
Field Expenditures
Field Management	

$	18,056	

$	10,533	

$	7,523	

$	18,056	

$	18,959	
Electric	$	4,028	$	1,846	$	1,319	$	3,164	$	4,028	
Streetlights	$	23,750	$	11,268	$	8,049	$	19,317	$	23,750	
Landscape Maintenance	$	38,625	$	21,875	$	15,625	$	37,500	$	38,625	
Landscape Contingency	$	10,000	$	11,790	$	-	$	11,790	$	15,000	
Mulch	$	15,000	$	7,125	$	-	$	7,125	$	15,000	
Irrigation Repairs	$	6,000	$	906	$	1,126	$	2,032	$	6,000	
General Field Repairs & Maintenance	$	12,500	$	1,916	$	1,368	$	3,284	$	13,500	
Contingency	$	11,500	$	5	$	5,750	$	5,755	$	11,500	
Reserve Study	$	-	$	-	$	-	$	-	$	6,000	
Subtotal	 $	139,458	$	67,264	$	40,760	$	108,023	$	152,361 	
Amenity Expenditures
Property Insurance	
$	25,529	
$	16,633	
$	-	
$	16,633	
$	15,801	
Security	$	36,050	$	16,923	$	12,088	$	29,010	$	36,050	
Landscape Maintenace-Amenity	$	13,905	$	7,840	$	5,600	$	13,440	$	13,905	
Landscape Contingency-Amenity	$	16,000	$	-	$	8,000	$	8,000	$	16,000	
Mulch	$	6,000	$	-	$	6,000	$	6,000	$	6,000	
Pest Control	$	1,020	$	591	$	450	$	1,040	$	2,580	
Pool Maintenance	$	24,408	$	14,050	$	9,875	$	23,925	$	24,480	
Janitorial Services	$	13,150	$	7,440	$	5,314	$	12,754	$	14,000	
Amenity-Electric	$	20,250	$	10,115	$	7,225	$	17,340	$	20,250	
Amenity-Water	$	3,656	$	1,093	$	781	$	1,873	$	3,656	
Cable/Internet	$	2,484	$	1,271	$	927	$	2,197	$	2,484	
Amenity Repairs & Maintenance	$	15,000	$	4,704	$	3,360	$	8,064	$	13,000	
Amenity Access Management	$	6,489	$	3,785	$	2,704	$	6,489	$	10,000	
Amenity Contingency	$	7,500	$	3,821	$	3,679	$	7,500	$	7,500	
Capital Reserve - Amenity	 $	-  $	-  $	-  $	-  $	2,000 	
Subtotal	 $	191,441	$	88,265	$	66,002	$	154,267	$	187,706 	
Total Operations & Maintenance	$	330,899	$	155,529	$	106,761	$	262,290	$	340,067	

Other Financing Sources/Uses:						
Capital Reserve	$	1,940	$	1,940	$	-	$	1,940	$	290,000	
Capital Reserve - Amenity	$	-	$	10,896	$	-	$	10,896	$	-	
Total Other Financing Sources/Uses	$	1,940	$	12,836	$	-	$	12,836	$	290,000	
						
Total Expenditures	$	460,178	$	233,332	$	150,541	$	383,874	$	760,644	
						
Excess Revenues/(Expenditures)	$	0	$	440,298	$  (144,797)	$	295,501	$	-	
			
Net Assessments		
$355,842	
			Add: Discounts & Collections 7%	$26,784	
			Gross Assessments		$382,626	
						
Product	ERU's	Assessable Units	ERU/Unit	Net Assessment	Net Per Unit	Gross Per Unit	
Platted  369.00	369.00	1.00	$355,842.21	$964.34	$1,036.93	

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.

Contribution from Highland Meadow West

The District has an interlocal agreement with Highland Meadows West for shared amenity facilities with certain costs being allocated based upon the proportionate number of platted units in each District.

Interest Income

Represents interest income the District may receive from interest earning accounts.

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 12 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

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

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 the Series 2018 bond series. Governmental Management Services – Central Florida, LLC completes these reporting requirements.

Attorney

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. Currently the District is contracted with Grau & Associates for these services.
3

Trustee Fees

The District will pay annual trustee fees for its Series 2018 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 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

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

Printing & Binding

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

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.

Contingency

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.

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.

Landscape Maintenance

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

Landscape Contingency

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

Mulch

Represents the estimated cost of mulch within the common areas of the District.

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.

Contingency

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

Reserve Study

The District will conduct a Reserve Study used to identify major common area components and forecast the necessary funding for their repair or replacement.

Amenity Expenditures

Property Insurance

The District’s property insurance coverages.

Security

Represents security services provided throughout the fiscal year.

Landscape Maintenance

Represents the estimated maintenance of the landscaping within the Amenity of the District.

Landscape Contingency

Represents the estimated cost of replacing landscaping within the Amenity of the District.

Mulch

Represents the estimated cost of mulch within the Amenity areas of the District.

Pest Control

Represents pest control for monthly treatment at the Amenity Center.

Pool Maintenance

Represents the cost to provide pool chemicals and pool maintenance services.

Janitorial Services

This line item represents janitorial services provided for the Amenity Center.

Amenity - Electric

This represents the estimated cost for electric utility of the Amenity Center.

Amenity - Water

Represents current and estimated costs for water and refuse services provided.

Cable/Internet

Represents internet services at the Amenity Center.

Amenity Repairs & Maintenance

Represents estimated general cost for repairs and maintenance of the amenity center.

Amenity Access Management

Provides access card issuance through registration, proof of residency, and photo identification. The team also provides keycard troubleshooting for issues and concerns related to access control. Staff reviews security concerns and amenity policy violations via remote camera monitoring on an as-needed basis. Districts are provided electronic communication for District news and direct remote customer service through phone and email directly to the Amenity Access Team.

Amenity Contingency

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

Capital Reserve - Amenity

Represents projected transfer out to the Amenity Capital Projects fund.

Other Financing Sources/(Uses)

Capital Reserve

Represents projected transfer out to the Capital Projects fund.

Davenport Road South
Community Development District Adopted Budget
Debt Service Fund Series 2018

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2026	4/30/26	5 Months	9/30/26	FY2027	

Revenues						
Assessments - Tax Roll	$	447,274	$	443,970	$	3,304	$	447,274	$	447,274	
Interest	$	10,000	$	13,017	$	6,509	$	19,526	$	10,000	
Carry Forward Surplus (1)	$	395,663	$	432,049	$	-	$	432,049	$	456,449	
Total Revenues	$	852,937	$	889,036	$	9,813	$	898,849	$	913,723	

Expenditures						
Interest - 11/1	$	152,775	$	152,775	$	-	$	152,775	$	149,625	
Principal - 11/1	$	140,000	$	140,000	$	-	$	140,000	$	145,000	
Interest - 5/1	$	149,625	$	-	$	149,625	$	149,625	$	146,363	
Total Expenditures	$	442,400	$	292,775	$	149,625	$	442,400	$	440,988	
						
Excess Revenues/(Expenditures)	$	410,537	$	596,261	$	(139,812)	$	456,449	$	472,735	
	
Interest - 11/1	
$	146,362.50	
	Principal - 11/1	 $	150,000.00	

(1) Carryforward Surplus is net of Debt Service Reserve Funds	Total	$	296,362.50	
	Product	Assessable Units	Net Assessment	Net Per Unit	Gross Per Unit		
	Single Family	369	$	447,274	$	1,212.12	$	1,303.36		
Total		369	$	447,274				

Davenport Road South Community Development District Series 2018 Special Assessment Bonds Amortization Schedule

Date		Balance		Prinicpal		Interest		Total	
									
11/01/26	$	5,945,000.00	$	145,000.00	$	149,625.00	$	444,250.00	
05/01/27	$	5,800,000.00	$	-	$	146,362.50			
11/01/27	$	5,800,000.00	$	150,000.00	$	146,362.50	$	442,725.00	
05/01/28	$	5,650,000.00	$	-	$	142,987.50			
11/01/28	$	5,650,000.00	$	160,000.00	$	142,987.50	$	445,975.00	
05/01/29	$	5,490,000.00	$	-	$	139,387.50			
11/01/29	$	5,490,000.00	$	165,000.00	$	139,387.50	$	443,775.00	
05/01/30	$	5,325,000.00	$	-	$	135,262.50			
11/01/30	$	5,325,000.00	$	175,000.00	$	135,262.50	$	445,525.00	
05/01/31	$	5,150,000.00	$	-	$	130,887.50			
11/01/31	$	5,150,000.00	$	180,000.00	$	130,887.50	$	441,775.00	
05/01/32	$	4,970,000.00	$	-	$	126,387.50			
11/01/32	$	4,970,000.00	$	190,000.00	$	126,387.50	$	442,775.00	
05/01/33	$	4,780,000.00	$	-	$	121,637.50			
11/01/33	$	4,780,000.00	$	200,000.00	$	121,637.50	$	443,275.00	
05/01/34	$	4,580,000.00	$	-	$	116,637.50			
11/01/34	$	4,580,000.00	$	210,000.00	$	116,637.50	$	443,275.00	
05/01/35	$	4,370,000.00	$	-	$	111,387.50			
11/01/35	$	4,370,000.00	$	220,000.00	$	111,387.50	$	442,775.00	
05/01/36	$	4,150,000.00	$	-	$	105,887.50			
11/01/36	$	4,150,000.00	$	230,000.00	$	105,887.50	$	441,775.00	
05/01/37	$	3,920,000.00	$	-	$	100,137.50			
11/01/37	$	3,920,000.00	$	245,000.00	$	100,137.50	$	445,275.00	
05/01/38	$	3,675,000.00	$	-	$	94,012.50			
11/01/38	$	3,675,000.00	$	255,000.00	$	94,012.50	$	443,025.00	
05/01/39	$	3,420,000.00	$	-	$	87,637.50			
11/01/39	$	3,420,000.00	$	270,000.00	$	87,637.50	$	445,275.00	
05/01/40	$	3,150,000.00	$	-	$	80,718.75			
11/01/40	$	3,150,000.00	$	285,000.00	$	80,718.75	$	446,437.50	
05/01/41	$	2,865,000.00	$	-	$	73,415.63			
11/01/41	$	2,865,000.00	$	300,000.00	$	73,415.63	$	446,831.25	
05/01/42	$	2,565,000.00	$	-	$	65,728.13			
11/01/42	$	2,565,000.00	$	315,000.00	$	65,728.13	$	446,456.25	
05/01/43	$	2,250,000.00	$	-	$	57,656.25			
11/01/43	$	2,250,000.00	$	330,000.00	$	57,656.25	$	445,312.50	
05/01/44	$	1,920,000.00	$	-	$	49,200.00			
11/01/44	$	1,920,000.00	$	345,000.00	$	49,200.00	$	443,400.00	
05/01/45	$	1,575,000.00	$	-	$	40,359.38			
11/01/45	$	1,575,000.00	$	365,000.00	$	40,359.38	$	445,718.75	
05/01/46	$	1,210,000.00	$	-	$	31,006.25			
11/01/46	$	1,210,000.00	$	385,000.00	$	31,006.25	$	447,012.50	
05/01/47	$	825,000.00	$	-	$	21,140.63			
11/01/47	$	825,000.00	$	400,000.00	$	21,140.63	$	442,281.25	
05/01/48	$	425,000.00	$	-	$	10,890.63			
11/01/48	$	425,000.00	$	425,000.00	$	10,890.63	$	446,781.25	
			$	5,945,000.00	$	4,127,081.25	$	10,221,706.25	

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2026	4/30/26	5 Months	9/30/26	FY2027	

Revenues						
Interest	$	3,960	$	2,190	$	1,564	$	3,754	$	3,960	
Carry Forward Surplus	$	104,437	$	122,265	$	-	$	122,265	$	91,713	
Total Revenues	$	108,397	$	124,455	$	1,564	$	126,019	$	95,673	

Expenditures						
Furniture Replacement/Repair	$	5,000	$	-	$	8,000	$	8,000	$	-	
Speed Drive for Pool Pumps	$	5,500	$	-	$	5,500	$	5,500	$	-	
Capital Outlay	$	8,500	$	18,496	$	4,250	$	22,746	$	8,500	
Total Expenditures	$	19,000	$	18,496	$	17,750	$	36,246	$	8,500	

Other Sources/(Uses)						
Transfer In/(Out)	$	1,940	$	1,940	$	-	$	1,940	$	290,000	
Total Other Sources/(Uses)	$	1,940	$	1,940	$	-	$	1,940	$	290,000	
						
Excess Revenues/(Expenditures)	$	91,337	$	107,899	$	(16,186)  $	91,713	$	377,173	

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2026	4/30/26	5 Months	9/30/26	FY2027	

Revenues						
Interest	$	-	$	497	$	355	$	852	$	850	
Carry Forward Surplus	$	-	$	28,896	$	-	$	28,896	$	27,836	
Total Revenues	$	-	$	29,393	$	355	$	29,748	$	28,686	

Expenditures						
General Repairs & Maintenance	$	-	$	12,709	$	-	$	12,709	$	5,000	
Contingency	$	-	$	-	$	100	$	100	$	100	
Total Expenditures	$	-	$	12,709	$	100	$	12,809	$	5,100	

Other Sources/(Uses)						
Transfer In/(Out)	$	-	$	10,896	$	-	$	10,896	$	2,000	
Total Other Sources/(Uses)	$	-	$	10,896	$	-	$	10,896	$	2,000	
						
Excess Revenues/(Expenditures)	$	-	$	27,581	$	255	$	27,836	$	25,586