Quail Roost	
Community Development District	

Amended Budget	
FY 2025	

Table of Contents

1		General Fund	

2-3	
	Narratives	

4	
	Debt Service Fund Series 2018	

5	
	Series 2018 Amortization Schedule	

6	
	Debt Service Fund Series 2021	

7	
	Series 2021 Amortization Schedule	

8	
	Assessment Schedule 	

Quail Roost	
Community Development District	
Amended Budget	
General Fund	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Amended Budget	
Description	FY2024	6/30/24	3 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments - On Roll	$	149,000	$	150,120	$	-	$	150,120	$	149,377	
Developer Contributions	-	828,793	494,306	$1,323,099	30,150	
Interest Income	-	-	-	-	1,397	
Carry Forward Surplus	-	-	-	-	24,001	

TOTAL REVENUES	$149,000	$978,914	$494,306	$1,473,220	$204,925	

EXPENDITURES:

Administrative						
Engineering	$	3,500	$	989	$	875	$	1,864	$	11,000	
Attorney	12,000	7,671	4,329	12,000	19,000	
Annual Audit	5,700	3,115	-	3,115	4,000	
Assessment Administration	5,000	5,000	-	5,000	5,000	
Arbitrage Rebate	1,100	550	550	1,100	1,100	
Dissemination Agent	3,000	2,250	750	3,000	3,210	
Trustee Fees	8,100	8,081	-	8,081	8,100	
Management Fees	26,400	19,800	6,600	26,400	27,720	
Website Maintenance	1,000	750	250	1,000	1,200	
Postage & Delivery	200	118	44	162	750	
Insurance General Liability	6,807	6,228	-	6,228	6,500	
Printing & Binding	100	27	25	52	100	
Legal Advertising	750	400	188	587	13,000	
Other Current Charges	600	63	150	213	600	
Office Supplies	100	0	25	25	50	
Dues, Licenses & Subscriptions	175	175	-	175	175	

TOTAL ADMINISTRATIVE	$74,532	$55,217	$13,786	$69,003	$101,505	

Operations & Maintenance
Field Expenditures

Landscape Maintenance	$	46,800	$	35,100	$	11,700	$	46,800	$	46,800	
Landscape Maintenance -Galiano	19,200	14,400	4,800	19,200	19,200	
Electric	-	20,242	6,300	26,542	25,000	
Field Management	6,000	4,500	1,500	6,000	6,420	
Contingencies	1,468	-	367	367	500	
Wall Maintenance	1,000	-	250	250	500	
Capital Outlay	-	822,885	482,173	1,305,058	5,000	

TOTAL FIELD EXPENDITURES	$74,468	$897,127	$24,917	$1,404,217	$103,420	

TOTAL EXPENDITURES	$149,000	$952,344	$38,703	$1,473,220	$204,925	

EXCESS REVENUES (EXPENDITURES)	$-	$26,569	$455,603	$(0)	$	-	

Quail Roost	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

REVENUES	

Special Assessments-Tax Roll	
The District will levy a Non-Ad Valorem assessment on all sold and platted parcels within the District in order to pay for the operating expenditures during the Fiscal Year.	
Developer Contributions	
It is presently anticipated that the District will enter into a Funding Agreement with the Developer to Fund a portion of the General
Fund expenditures for the Fiscal Year.	
	
Expenditures - Administrative	

Engineering	
The District's engineer will provide general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review of invoices, and other specifically requested assignments.	
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.	
Attorney	
The District’s Attorney, will be providing general legal services to the District, i.e., attendance and preparation for monthly Board meetings, review of contracts, review of agreements and resolutions, and other research assigned as directed by the Board of Supervisors and the District Manager.	
Annual Audit	
The District is required to conduct an annual audit of its financial records by an Independent Certified Public Accounting Firm. The budgeted amount for the fiscal year is based on contracted fees from the previous year engagement plus anticipated increase.	
Assessment Roll Administration	
GMS SF, LLC provides assessment services for closing lot sales, assessment roll services with the local Tax Collector and financial advisory services.	
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.	
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. The budgeted amount for the fiscal year is based on the contracted fees outlined in Exhibit "A" of the Management Agreement.	
Information Technology	
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.	
Website Maintenance	
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.	
Communication - Telephone	
New internet and Wi-Fi service for Office.	

Quail Roost	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

Expenditures - Administrative (continued)	
Postage and Delivery	
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.	
Insurance General Liability	
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 and Binding	
Copies used in the preparation of agenda packages, required mailings, and other special projects.	
Legal Advertising	
The District is required to advertise various notices for monthly Board meetings and other public hearings in a newspaper of general circulation.	
Other Current Charges	
This includes monthly bank charges and any other miscellaneous expenses that incur during the year.	
Office Supplies	
Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects.	
Due, Licenses & Subscriptions	
The District is required to pay an annual fee to the Florida Department of Commerce for $175.	
Contingencies	
A contingency for any unanticipated and unscheduled cost to the District.	
Expenditures – Field	

Landscape Maintenance	
The District has a contract with Tony Nursery and Garden Company for the maintenance of the Common Areas within the district. Which includes grass cutting and edging.	
Landscape Maintenance -Galiano	
The District has a contract with Tony Nursery and Garden Company for the maintenance of the Common Areas within the expansion area. Which includes grass cutting and edging.	
Electric	
FPL provides electricity for Common Area Lighting.	
Contingencies	
Represents any expenditures not mentioned above during the Fiscal Year.	
Wall Maintenance	
Represents any expenditures not mentioned above during the Fiscal Year.	
Field Management	
The District has a contract Governmental Management Services, South Florida, LLC for on-site management. The responsibilities
include reviewing contracts and other maintenance related items.	

Quail Roost	
Community Development District	
Amended Budget	
Debt Service Series 2018 Special Assessment Refunding Bonds	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Amended Budget	
Description	FY2024	6/30/24	3 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments-On Roll	$	134,613	$	135,213	$	-	$	135,213	$	134,613	
Interest Earnings	1,000	5,455	1,818	7,274	5,000	
Carry Forward Surplus (1)	92,750	87,486	-	87,486	96,705	

TOTAL REVENUES	$228,363	$228,154	$1,818	$229,973	$236,317	

EXPENDITURES:

Interest - 12/15	$	46,531	$	46,531	$	-	$	46,531	$	45,737	
Principal - 12/15	41,000	41,000	-	41,000	43,000	
Interest - 06/15	45,737	45,737	-	45,737	44,904	

TOTAL EXPENDITURES	$133,267	$133,268	$-	$133,268	$133,641	

TOTAL EXPENDITURES	$133,267	$133,268	$-	$133,268	$133,641	

EXCESS REVENUES (EXPENDITURES)	$95,095	$94,886	$1,818	$96,705	$102,677	

Interest Due 12/15/25	$44,903.75	
Principal Due 12/15/25	$44,000.00	
	$88,903.75	

(1) Carry Forward is Net of Reserve Requirement

Quail Roost	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2018 Special Assessment Refunding Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

12/15/24	1,905,000	3.875%	43,000	45,737	133,640.63	
06/15/25	1,862,000	4.250%	-	44,904		
12/15/25	1,862,000	4.250%	44,000	44,904	132,872.50	
06/15/26	1,818,000	4.250%	-	43,969		
12/15/26	1,818,000	4.250%	46,000	43,969	132,960.00	
06/15/27	1,772,000	4.250%	-	42,991		
12/15/27	1,772,000	4.250%	48,000	42,991	132,962.50	
06/15/28	1,724,000	4.250%	-	41,971		
12/15/28	1,724,000	4.250%	50,000	41,971	132,880.00	
06/15/29	1,674,000	4.250%	-	40,909		
12/15/29	1,674,000	4.250%	52,000	40,909	132,712.50	
06/15/30	1,622,000	4.750%	-	39,804		
12/15/30	1,622,000	4.750%	55,000	39,804	133,301.25	
06/15/31	1,567,000	4.750%	-	38,498		
12/15/31	1,567,000	4.750%	57,000	38,498	132,641.25	
06/15/32	1,510,000	4.750%	-	37,144		
12/15/32	1,510,000	4.750%	60,000	37,144	132,862.50	
06/15/33	1,450,000	4.750%	-	35,719		
12/15/33	1,450,000	4.750%	63,000	35,719	132,941.25	
06/15/34	1,387,000	4.750%	-	34,223		
12/15/34	1,387,000	4.750%	66,000	34,223	132,877.50	
06/15/35	1,321,000	4.750%	-	32,655		
12/15/35	1,321,000	4.750%	69,000	32,655	132,671.25	
06/15/36	1,252,000	4.750%	-	31,016		
12/15/36	1,252,000	4.750%	72,000	31,016	132,322.50	
06/15/37	1,180,000	4.750%	-	29,306		
12/15/37	1,180,000	4.750%	76,000	29,306	132,807.50	
06/15/38	1,104,000	4.750%	-	27,501		
12/15/38	1,104,000	4.750%	79,000	27,501	132,126.25	
06/15/39	1,025,000	5.000%	-	25,625		
12/15/39	1,025,000	5.000%	80,000	25,625	129,250.00	
06/15/40	945,000	5.000%	-	23,625		
12/15/40	945,000	5.000%	85,000	23,625	130,125.00	
06/15/41	860,000	5.000%	-	21,500		
12/15/41	860,000	5.000%	90,000	21,500	130,750.00	
06/15/42	770,000	5.000%	-	19,250		
12/15/42	770,000	5.000%	95,000	19,250	131,125.00	
06/15/43	675,000	5.000%	-	16,875		
12/15/43	675,000	5.000%	100,000	16,875	131,250.00	
06/15/44	575,000	5.000%	-	14,375		
12/15/44	575,000	5.000%	105,000	14,375	131,125.00	
06/15/45	470,000	5.000%	-	11,750		
12/15/45	470,000	5.000%	110,000	11,750	130,750.00	
06/15/46	360,000	5.000%	-	9,000		
12/15/46	360,000	5.000%	115,000	9,000	130,125.00	
06/15/47	245,000	5.000%	-	6,125		
12/15/47	245,000	5.000%	120,000	6,125	129,250.00	
06/15/48	125,000	5.000%	-	3,125		
12/15/48	125,000	5.000%	125,000	3,125	128,125.00	
Total			$1,905,000	$1,389,454	$3,294,454	

Quail Roost	
Community Development District	
Amended Budget	
Debt Service Series 2021 Special Assessment Refunding Bonds	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Amended Budget	
Description	FY2024	6/30/24	3 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments-On Roll	$309,050	$309,874	$-	$309,874	$309,050	
Interest Earnings	1,000	14,152	4,717	18,870	10,000	
Carry Forward Surplus (1)	327,535	240,963	-	240,963	267,654	

TOTAL REVENUES	$637,585	$564,990	$4,717	$569,707	$586,704	

EXPENDITURES:

Interest - 12/15	$90,191	$90,191	$-	$90,191	$88,871	
Principal - 12/15	120,000	120,000	-	120,000	120,000	
Interest - 06/15	88,871	88,871	-	88,871	87,551	

TOTAL EXPENDITURES	$299,061	$299,061	$-	$299,061	$296,421	

Other Sources/(Uses)

Interfund transfer In/(Out)	$-	$(2,992)	-	(2,992)	$-	

TOTAL OTHER SOURCES/(USES)	$-	$(2,992)	$-	$(2,992)	$-	

TOTAL EXPENDITURES	$299,061	$302,053	$-	$302,053	$296,421	

EXCESS REVENUES (EXPENDITURES)	$338,524	$262,937	$4,717	$267,654	$290,283	

Interest Due 12/15/25	$87,550.63	
Principal Due 12/15/25	$125,000.00	
	$212,550.63	

(1) Carry Forward is Net of Reserve Requirement

Quail Roost	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2021 Special Assessment Refunding Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

12/15/2024	5,210,000	2.200%	120,000	88,871	296,421.25	
6/15/2025	5,090,000	2.200%	-	87,551		
12/15/2025	5,090,000	2.200%	125,000	87,551	298,726.25	
6/15/2026	4,965,000	2.200%	-	86,176		
12/15/2026	4,965,000	2.200%	125,000	86,176	295,976.25	
6/15/2027	4,840,000	2.200%	-	84,801		
12/15/2027	4,840,000	2.700%	130,000	84,801	297,846.25	
6/15/2028	4,710,000	2.700%	-	83,046		
12/15/2028	4,710,000	2.700%	135,000	83,046	299,268.75	
6/15/2029	4,575,000	2.700%	-	81,223		
12/15/2029	4,575,000	2.700%	135,000	81,223	295,623.75	
6/15/2030	4,440,000	2.700%	-	79,401		
12/15/2030	4,440,000	2.700%	140,000	79,401	296,911.25	
6/15/2031	4,300,000	2.700%	-	77,511		
12/15/2031	4,300,000	2.700%	145,000	77,511	298,063.75	
6/15/2032	4,155,000	2.700%	-	75,553		
12/15/2032	4,155,000	3.125%	150,000	75,553	298,762.50	
6/15/2033	4,005,000	3.125%	-	73,209		
12/15/2033	4,005,000	3.125%	155,000	73,209	298,996.88	
6/15/2034	3,850,000	3.125%	-	70,788		
12/15/2034	3,850,000	3.125%	160,000	70,788	299,075.00	
6/15/2035	3,690,000	3.125%	-	68,288		
12/15/2035	3,690,000	3.125%	165,000	68,288	298,996.88	
6/15/2036	3,525,000	3.125%	-	65,709		
12/15/2036	3,525,000	3.125%	170,000	65,709	298,762.50	
6/15/2037	3,355,000	3.125%	-	63,053		
12/15/2037	3,355,000	3.125%	175,000	63,053	298,371.88	
6/15/2038	3,180,000	3.125%	-	60,319		
12/15/2038	3,180,000	3.125%	180,000	60,319	297,825.00	
6/15/2039	3,000,000	3.125%	-	57,506		
12/15/2039	3,000,000	3.125%	185,000	57,506	297,121.88	
6/15/2040	2,815,000	3.125%	-	54,616		
12/15/2040	2,815,000	3.125%	190,000	54,616	296,262.50	
6/15/2041	2,625,000	3.125%	-	51,647		
12/15/2041	2,625,000	3.125%	195,000	51,647	295,246.88	
6/15/2042	2,430,000	3.125%	-	48,600		
12/15/2042	2,430,000	4.000%	205,000	48,600	298,100.00	
6/15/2043	2,225,000	4.000%	-	44,500		
12/15/2043	2,225,000	4.000%	210,000	44,500	294,800.00	
6/15/2044	2,015,000	4.000%	-	40,300		
12/15/2044	2,015,000	4.000%	220,000	40,300	296,200.00	
6/15/2045	1,795,000	4.000%	-	35,900		
12/15/2045	1,795,000	4.000%	230,000	35,900	297,200.00	
6/15/2046	1,565,000	4.000%	-	31,300		
12/15/2046	1,565,000	4.000%	235,000	31,300	292,900.00	
6/15/2047	1,330,000	4.000%	-	26,600		
12/15/2047	1,330,000	4.000%	245,000	26,600	293,300.00	
6/15/2048	1,085,000	4.000%	-	21,700		
12/15/2048	1,085,000	4.000%	255,000	21,700	293,300.00	
6/15/2049	830,000	4.000%	-	16,600		
12/15/2049	830,000	4.000%	265,000	16,600	292,900.00	
6/15/2050	565,000	4.000%	-	11,300		
12/15/2050	565,000	4.000%	275,000	11,300	292,100.00	
6/15/2051	290,000	4.000%	-	5,800		
12/15/2051	290,000	4.000%	290,000	5,800	295,800.00	

Total	$5,210,000	$3,094,859	$8,304,859	

Quail Roost	
Community Development District	
Non-Ad Valorem Assessments Comparison	

Product Type	O&M Units	Bonds
Units 2018	Bonds Units
2021	Annual Maintenance Assessments	Annual Debt Assessments	Total Assessed Per Unit	
	Series 2018	Series 2021			
	
FY 2025	
FY2024	Increase/ (decrease)	
FY 2025	
FY2024	
FY 2025	
FY2024	Increase/ (decrease)	
FY 2025	
FY2024	Increase/ (decrease)	

Single Family (Galiano)	

85	

85	

0	

$842.11	

$842.11	

$0.00	

$1,667.03	

$1,667.03	

$0.00	

$0.00	

$0.00	

$2,509.14	

$2,509.14	

$0.00	
Single Family 100'	100	0	99	$473.68	$473.68	$0.00	$	-	$	-	$2,052.63	$2,052.63	$0.00	$2,526.31	$2,526.31	$0.00	
Single Family 50'	80	0	80	$473.68	$473.68	$0.00	$	-	$	-	$1,526.32	$1,526.32	$0.00	$2,000.00	$2,000.00	$0.00	
Total	265	179												

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