Adopted Budget	
Fiscal Year 2024	

Willow Creek	
Community Development District	

August 4, 2023

Willow Creek	
Community Development District	

TABLE OF CONTENTS

General Fund	
Budget	
Narrative	

Page 1-2	
Page 3-6	

Debt Service Fund	
Budget	
Amortization Schedule	

Page 7	
Page 8-9	

Willow Creek	
Community Development District	

	
Adopted	
Budget	
FY 2024	

$291,968
$54,017
$274,104	
$620,089	

$10,000
$30,000
$4,900
$550
$150
$38,934
$2,500
$5,000
$1,500
$200
$7,575
$500
$1,000
$1,200
$100
$175	
$104,284	

$12,592
$4,800
$12,000
$1,200
$4,800
$147,840
$1,000
$6,900
$20,000
$10,000
$0	
$221,132	

	
Estimated	
Budget	
at Buildout	

$692,860
$0
$274,104	
$966,964	

$10,000
$30,000
$4,900
$550
$150
$38,934
$2,500
$5,000
$1,500
$1,200
$7,575
$1,000
$1,000
$3,000
$100
$175	
$107,584	

$27,682
$4,800
$80,000
$1,200
$4,800
$180,000
$1,000
$22,000
$30,000
$10,000
$105,000	
$466,482	

Adopted	
Budget	
	FY 2023		

Actual	
Thru	
  6/30/2023		

Projected	
for	
  3 Months		

Total	
Projected	
  9/30/2023		

 Description	

Revenues	
Developer Contributions	
Special Assessments-Direct	
Special Assessments-On Roll	
Total Revenues	

$371,112	
$76,943	
   $127,746 	
   $575,801 	

$64,189	
$77,791	
   $128,439 	
   $270,419 	

$16,210	
$0	
       $0 	
    $16,210 	

$80,399	
$77,791	
   $128,439 	
   $286,629 	

Expenditures

Administrative	
Engineering Fees	
Attorney Fees	
Annual Audit	
Arbitrage Rebate	
Property Appraiser	
Management Fees	
Dissemination Agent	
Trustee Fees	
Website Compliance	
Postage	
General Liability Insurance	
Printing & Binding	
Legal Advertising	
Other Current Charges	
Office Supplies	
Dues, Licenses & Subscriptions	
Total Administrative	

$10,000	
$30,000	
$2,700	
$0	
$0	
$37,800	
$0	
$5,000	
$1,500	
$1,200	
$7,206	
$1,000	
$1,000	
$1,200	
$100	
     $175 	
    $98,881 	

$2,438	
$6,954	
$4,800	
$0	
$102	
$28,350	
$0	
$0	
$1,125	
$98	
$6,886	
$202	
$828	
$405	
$15	
     $175 	
    $52,377 	

$7,563	
$10,000	
$0	
$0	
$0	
$9,450	
$0	
$5,000	
$375	
$102	
$0	
$100	
$172	
$150	
$15	
       $0 	
    $32,927 	

$10,000	
$16,954	
$4,800	
$0	
$102	
$37,800	
$0	
$0	
$1,500	
$200	
$6,886	
$302	
$1,000	
$555	
$30	
     $175 	
    $80,304 	

Field	
Field Management	
Utilities - Electric	
Utilities - Streetlights	
Utilities - Water & Sewer	
Utilities - Irrigation	
Landscape Maintenance	
Pest Control	
Lake Maintenance	
Wetlands/Preserves	
Pressure Washing	
Contingency	
Total Field	

$12,225	
$4,000	
$12,000	
$1,200	
$4,800	
$100,000	
$1,000	
$3,000	
$30,000	
$10,000	
       $0 	
   $178,225 	

$9,169	
$3,110	
$6,269	
$628	
$4,893	
$99,429	
$0	
$8,012	
$0	
$0	
       $0 	
   $131,510 	

$3,056	
$1,350	
$2,388	
$304	
$0	
$34,992	
$1,000	
$1,725	
$20,000	
$10,000	
       $0 	
    $74,815 	

$12,225	
$4,460	
$8,657	
$932	
$4,893	
$134,421	
$1,000	
$9,737	
$20,000	
$10,000	
       $0 	
   $206,325 	

Actual	Projected		Total Thru		for	Projected
  6/30/2023		  3 Months		 9/30/2023	

$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0
	$0 		$0 		$0 
	$0 		$0 		$0 

	$183,887 		$107,742 		$286,629 

	$86,531 		($91,532)		$0 		
	Adopted Budget
FY 2024	

$39,158
$2,150
$1,229
$9,623
$20,885
$15,050
$2,765
$2,642
$14,727
$20,117
$3,071
$614
$25,799
$22,114
$21,806
$1,689
$1,997
$5,222
$1,720
$4,607
$3,993
$3,317
$614
$9,214
$14,012
$37,049
$9,491	
	$294,674	
		
	$620,089	
		
	$0	

	On Roll	
Net Assessments Collection Fees & Discounts (6%)
Gross Assessments
No. of Units Per Unit Assessments (Net)
Per Unit Assessments (Gross/tax bill))	$274,104
$17,496	
	$291,600
324
$846.00
$900.00	
		
	Direct Billed	
Product	acres		per acre		Total	
unplatted *	527		$102.42		$54,017	

Willow Creek	
Community Development District	

	
Estimated	
Budget	
at Buildout	

$52,211
$2,867
$1,638
$12,831
$27,847
$20,066
$3,686
$3,522
$19,636
$26,823
$4,095
$819
$34,399
$29,485
$29,075
$2,252
$2,662
$6,962
$2,293
$6,143
$5,324
$4,423
$819
$12,285
$18,682
$49,399
$12,655	
$392,899	
	
$966,964	
	
($0)	

$966,964
$61,721	
$1,028,685
1,143
$846.00
$900.00	

Adopted	
Budget	
FY 2023	

	

	

	

 Description	

Clubhouse	
Management Fees	
Access Control	
Alarm Monitoring	
Pool Monitoring	
Utility - Electric	
Utility - Water & Sewer	
Cable/Internet Services	
Telephone	
Property Insurance	
Landscape Maintenance	
Landscape Replacement	
Pest Control	
Pool & Spa Maintenance	
Repairs and Maintenance	
Janitorial Maintenance	
Janitorial Supplies	
Office Equipment Maintenance	
Office Supplies/Clubhouse Supplies	
Air Conditioning Maintenance	
Fitness Equipment Maintenance	
Window Cleaning/Pressure Cleaning	
Porter Service	
Trash Collection	
Special Events	
Holiday Lighting	
Contingency	
Capital Reserve	
Total Clubhouse	

$39,158	
$2,150	
$1,229	
$9,623	
$20,885	
$15,050	
$2,765	
$2,642	
$14,727	
$20,117	
$3,071	
$614	
$25,799	
$22,114	
$21,806	
$1,689	
$1,997	
$5,222	
$1,720	
$4,607	
$3,993	
$3,317	
$614	
$9,214	
$14,012	
$37,907	
$12,655	
$298,695	

	

	

	

	

	

	

	

	

	

	

	

	

	

	

	

	

	

	

	

	

	

	

	

	

	

	

	

	

	

	

Total Expenditures	$575,801 Excess Revenues/(Expenditures)		$0

* unplatted acres assessed for administrative costs only

REVENUES:

Developer Contributions
The District entered into a funding agreement with the developer to fund all general operating expenditures for the Fiscal Year.

Special Assessments-Direct
The District is levying 79 lots direct to builder to fund general operating expenditures for the Fiscal Year.

EXPENDITURES:

Administrative:

Engineering Fees
The District's engineer will be providing general engineering services to the District including attendance and preparation for board meetings, etc.

Attorney Fees
The District's legal counsel will be providing general legal services to the District, i.e., attendance and preparation for monthly meetings, review operating and maintenance contracts, etc.

Annual Audit
The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm.

Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services. These services are further outlined in Exhibit "A" of the Management Agreement.

Website Compliance
Per section 189.069 F.S, all Districts must have a website by October 1, 2015 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 as required by the statute.

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

Insurance
The District's General Liability & Public Officials Liability Insurance policy is with Florida Insurance Alliance. Florida Insurance Alliance specializes in providing insurance coverage to governmental agencies.

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

Administrative: (continued)

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

Administrative: (continued)

Other Current Charges
Bank charges and any other miscellaneous expenses that are incurred during the year.

Office Supplies
Miscellaneous office supplies.

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

Field:

Field Management
The District will contract a field management firm.

Utilities - Electric
FPL provides electricity to entrance and lift station.

Utilities - Streetlights
FPL streetlight meters throughout the district.

Utilities - Water & Sewer
City of Titusville provides water and sewer service to the district.

Utilities - Irrigation
FPL meters for irrigation.

Landscape Maintenance
The district has a proposal with Meadowbrook Acres of South-Central Florida, Inc.

Mow entrance 42 times per year
Turf/ Shrub fertilize entrance 4 times per year Shrub/Tree trimming 4 times per year Irrigation inspection entrance 8 times per year Mulch for entrance 1 time per year
Annuals for monument beds on the median

Pest Control
Cost for pest control throughout the district’s common area.

Field: (continued)

Lake Maintenance
The district has a proposal with Lake & Wetland Management for maintenance of algae, border grass and invasive exotic plant control for 2 lakes.

Wetlands/Preserves
Cost for wetlands/preserves maintenance.

Pressure Washing
Cost to pressure wash district’s common area infrastructure.

Contingency
Any other miscellaneous expenses that are incurred during the year.

Clubhouse:

Management Fees
The District will contract a management firm.

Access Control
Cost for security system for the clubhouse.

Alarm Monitoring
Cost for fire alarm monitoring.

Pool Monitoring
Cost for security system at the community pool.

Utility – Electric
FPL electric meters for the Clubhouse.

Utility – Water and Sewer
Cost for water and sewer at the Clubhouse.

Cable/Internet Service
Cost for cable/TV and internet service at the Clubhouse.

Telephone
Cost for phone land line at the clubhouse.

Property Insurance
The District's Property Liability Insurance policy is with Florida Insurance Alliance. Florida Insurance Alliance specializes in providing insurance coverage to governmental agencies.

Landscape Maintenance
Cost for landscape maintenance around the clubhouse.

Landscape Replacement
Cost to replace seasonal flowers, mulch, and trees.

Clubhouse: (continued)

Pest Control
Cost for pest control around the clubhouse.

Pool & Spa Maintenance
Cost for pool and spa maintenance.

Repairs and Maintenance
Cost for general repairs and maintenance of the clubhouse.

Janitorial Maintenance
Cost for janitorial maintenance of the Clubhouse.

Janitorial Supplies
Cost for cleaning supplies.

Office Equipment Maintenance
Cost for office equipment maintenance.

Office/Clubhouse Supplies
Cost for office/clubhouse supplies.

Air Conditioning Maintenance
Cost for the clubhouse A/C unit.

Fitness Equipment Maintenance
Cost for equipment maintenance.

Window Cleaning/Pressure Cleaning
Cost to cleaning and pressure wash windows and clubhouse infrastructure.

Porter Service
Cost for repairing, cleaning, hand cleaning trash, and litter, disinfecting areas when needed.

Trash Collection
The District will contract with a waste management company to collect the trash at clubhouse.

Special Events
Cost for special events

Holiday Lighting
Cost for Holiday Lighting at Clubhouse.

Contingency
Any other miscellaneous expenses that are incurred during the year.

Capital Reserve
Capital Reserve for future projects.

Willow Creek	
Community Development District	

 	
Debt Service Fund	
Series 2022, Capital Improvement Bonds	

Adopted	
Budget	
FY 2023	

Actual	
Thru	
6/30/2023	

Projected	
for	
3 Months	

Total	
Projected	
9/30/2023	

Adopted	
Budget	
FY 2024	

Description

Revenues	
Carry Forward Surplus (1)	
Special Assessments-On Roll	
Special Assessments-Direct	
Interest Income	

$57,789	$58,161	
$51,836	$51,996	
$124,551	$75,249	
$0	$3,198	

$0	
$0	
$49,301	
$990	

$58,161	
$51,996	
$124,551	
$4,188	

$76,627	
$176,387	
$0	
$500	

Total Revenues	$253,514

$234,176		$188,605	

$50,291		$238,896	

Expenditures

Series 2022	
Interest - 11/01	
Interest - 05/01	
Principal - 05/01	

$57,789	
$68,888	
$35,000	

$57,789	
$68,888	
$35,000	

$0	$57,789	
$0	$68,888	
$0	$35,000	

$68,065	
$68,065	
$40,000	

Total Expenditures	$161,676		$161,676		$0		$161,676		$176,130	

Other Financing Sources/(Uses)

Interfund Transfer In/(Out)	

$0		

($593)						

$0	
Total Other Financing Sources/(Uses)	$0		($593)		$0		($593)		$0	
										
Excess Revenues/(Expenditures)	$72,499		$26,336		$50,291		$76,627		$77,384	

$0	($593)	

(1) Carry forward surplus is net of the reserve requirement
11/1/24 Interest	$67,125	
	$67,125	

On Roll	
Product	Units#	Amount Per	Total Gross Unit		amount	
Phase One	79	$0.00	$0.00	
Village D SF 50'	72	$765.90	$55,144.80	
Village B SF 50'	173	$765.90	$132,500.70	
324	Total Gross Assessments	$187,645.50	
Less Discounts & Collection Fees 6%	($11,258.73)	
Total Net Assessments	$176,386.77	

Amortization Schedule	
Series 2022, Capital Improvement Bonds	

 					
DATE	BALANCE	COUPON	PRINCIPAL	INTEREST	TOTAL

11/01/23	$2,540,000.00	4.70%	$0.00	$68,065.00	
05/01/24	$2,540,000.00	4.70%	$40,000.00	$68,065.00	$176,130.00	
11/01/24	$2,500,000.00	4.70%	$0.00	$67,125.00	
05/01/25	$2,500,000.00	4.70%	$40,000.00	$67,125.00	$174,250.00	
11/01/25	$2,460,000.00	4.70%	$0.00	$66,185.00	
05/01/26	$2,460,000.00	4.70%	$40,000.00	$66,185.00	$172,370.00	
11/01/26	$2,420,000.00	4.70%	$0.00	$65,245.00	
05/01/27	$2,420,000.00	4.70%	$45,000.00	$65,245.00	$175,490.00	
11/01/27	$2,375,000.00	5.00%	$0.00	$64,187.50	
05/01/28	$2,375,000.00	5.00%	$45,000.00	$64,187.50	$173,375.00	
11/01/28	$2,330,000.00	5.00%	$0.00	$63,062.50	
05/01/29	$2,330,000.00	5.00%	$50,000.00	$63,062.50	$176,125.00	
11/01/29	$2,280,000.00	5.00%	$0.00	$61,812.50	
05/01/30	$2,280,000.00	5.00%	$50,000.00	$61,812.50	$173,625.00	
11/01/30	$2,230,000.00	5.00%	$0.00	$60,562.50	
05/01/31	$2,230,000.00	5.00%	$55,000.00	$60,562.50	$176,125.00	
11/01/31	$2,175,000.00	5.00%	$0.00	$59,187.50	
05/01/32	$2,175,000.00	5.00%	$55,000.00	$59,187.50	$173,375.00	
11/01/32	$2,120,000.00	5.375%	$0.00	$57,812.50	
05/01/33	$2,120,000.00	5.375%	$60,000.00	$57,812.50	$175,625.00	
11/01/33	$2,060,000.00	5.375%	$0.00	$56,200.00	
05/01/34	$2,060,000.00	5.375%	$65,000.00	$56,200.00	$177,400.00	
11/01/34	$1,995,000.00	5.375%	$0.00	$54,453.13	
05/01/35	$1,995,000.00	5.375%	$65,000.00	$54,453.13	$173,906.25	
11/01/35	$1,930,000.00	5.375%	$0.00	$52,706.25	
05/01/36	$1,930,000.00	5.375%	$70,000.00	$52,706.25	$175,412.50	
11/01/36	$1,860,000.00	5.375%	$0.00	$50,825.00	
05/01/37	$1,860,000.00	5.375%	$75,000.00	$50,825.00	$176,650.00	
11/01/37	$1,785,000.00	5.375%	$0.00	$48,809.38	
05/01/38	$1,785,000.00	5.375%	$80,000.00	$48,809.38	$177,618.75	
11/01/38	$1,705,000.00	5.375%	$0.00	$46,659.38	
05/01/39	$1,705,000.00	5.375%	$85,000.00	$46,659.38	$178,318.75	
11/01/39	$1,620,000.00	5.375%	$0.00	$44,375.00	
05/01/40	$1,620,000.00	5.375%	$90,000.00	$44,375.00	$178,750.00	
11/01/40	$1,530,000.00	5.375%	$0.00	$41,956.25	
05/01/41	$1,530,000.00	5.375%	$90,000.00	$41,956.25	$173,912.50	
11/01/41	$1,440,000.00	5.375%	$0.00	$39,537.50	
05/01/42	$1,440,000.00	5.375%	$100,000.00	$39,537.50	$179,075.00	
11/01/42	$1,340,000.00	5.50%	$0.00	$36,850.00	
05/01/43	$1,340,000.00	5.50%	$105,000.00	$36,850.00	$178,700.00	
11/01/43	$1,235,000.00	5.50%	$0.00	$33,962.50	
05/01/44	$1,235,000.00	5.50%	$110,000.00	$33,962.50	$177,925.00	
11/01/44	$1,125,000.00	5.50%	$0.00	$30,937.50	
05/01/45	$1,125,000.00	5.50%	$115,000.00	$30,937.50	$176,875.00	

Amortization Schedule	
Series 2022, Capital Improvement Bonds	

 					
DATE	BALANCE	COUPON	PRINCIPAL	INTEREST	TOTAL

Continued

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	
05/01/52	

$1,010,000.00	
$1,010,000.00	
$890,000.00	
$890,000.00	
$760,000.00	
$760,000.00	
$625,000.00	
$625,000.00	
$480,000.00	
$480,000.00	
$330,000.00	
$330,000.00	
$170,000.00	
$170,000.00	

5.50%	
5.50%	
5.50%	
5.50%	
5.50%	
5.50%	
5.50%	
5.50%	
5.50%	
5.50%	
5.50%	
5.50%	
5.50%	
5.50%	

$0.00	
$120,000.00	
$0.00	
$130,000.00	
$0.00	
$135,000.00	
$0.00	
$145,000.00	
$0.00	
$150,000.00	
$0.00	
$160,000.00	
$0.00	
$170,000.00	

$27,775.00	
$27,775.00	
$24,475.00	
$24,475.00	
$20,900.00	
$20,900.00	
$17,187.50	
$17,187.50	
$13,200.00	
$13,200.00	
$9,075.00	
$9,075.00	
$4,675.00	
$4,675.00	

$175,550.00	
$178,950.00	
$176,800.00	
$179,375.00	
$176,400.00	
$178,150.00	
$179,350.00	

Total	$2,540,000.00	$2,575,608.75	$5,115,608.75