Willow Creek	
Community Development District	

Adopted Budget	
FY 2025	

Table of Contents

1-2

3-6

7-8

	General Fund

	Narratives

	Debt Service Fund Series 2022

9		Assessment Schedule

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

REVENUES:

Special Assessments - On Roll	

$	274,104	

$	275,560	

$	-	$	275,560	

$	274,104	

$	274,104	
Special Assessments - Direct	54,017	54,017	-	54,017	42,177	-	
Developer Contribution	291,968	-	-	-	388,137	692,860	
Interest income	-	-	-	-	5,000	-	
Carry Forward Surplus	-	43,215	-	43,215	-	-	
TOTAL REVENUES	$	620,089	$	372,792	$	-	$	372,792	$	709,418	$	966,964	

EXPENDITURES:						
Administrative						
Engineering	$	10,000	$	-	$	7,143	$	7,143	$	10,000	$	10,000	
Attorney	30,000	24,905	10,500	35,405	30,000	30,000	
Annual Audit	4,900	4,900	-	4,900	3,500	4,900	
Assessment Administration	-	-	-	-	2,000	2,000	
Arbitrage Rebate	550	-	-	-	-	550	
Dissemination Agent	2,500	1,975	525	2,500	2,675	2,675	
Trustee Fees	5,000	-	5,000	5,000	5,000	5,000	
Management Fees	38,934	29,201	9,734	38,934	41,659	38,934	
Property Appraiser	150	208	-	208	150	150	
Information Technology	-	-	-	-	1,000	-	
Website Maintenance	1,500	1,125	375	1,500	1,605	1,605	
Postage & Delivery	200	350	117	466	800	1,200	
Insurance General Liability	7,575	7,161	-	7,161	7,877	7,575	
Printing & Binding	500	160	53	213	500	500	
Legal Advertising	1,000	830	599	1,429	1,000	1,000	
Other Current Charges	1,200	203	68	271	898	1,220	
Office Supplies	100	-	-	-	100	100	
Dues, Licenses & Subscriptions	175	175	-	175	175	175	
TOTAL ADMINISTRATIVE	$	104,284	$	71,191	$	34,113	$	105,304	$	108,939	$	107,584	

Operations & Maintenance						
Field Expenditures						
Field Management	$	12,592	$	9,444	$	3,144	$	12,588	$	13,217	$	27,682	
Utilities - Electric	4,800	5,724	2,850	8,574	4,800	4,800	
Utilities - Streetlights	12,000	8,809	4,629	13,438	12,000	80,000	
Utilities - Water & Sewer	1,200	691	231	922	1,200	1,200	
Utilities - Irrigation	4,800	23,943	3,000	26,943	4,800	4,800	
Landscape Maintenance	147,840	84,578	26,250	110,828	110,000	180,000	
Mulch	-	36,125	-	36,125	40,000	-	
Pest Control	1,000	-	500	500	1,000	1,000	
Lake Maintenance	6,900	9,559	4,005	13,564	22,200	22,000	
Wetlands/Preserves	20,000	-	-	-	5,000	30,000	
Pressure Washing	10,000	180	5,000	5,180	5,000	10,000	
Contingency	-	6,108	-	6,108	10,000	105,000	
TOTAL FIELD EXPENDITURES	$	221,132	$	185,160	$	49,609	$	234,769	$	229,217	$	466,482	

Adopted Budget
FY 2025

$	82,211
2,867
1,638
- 27,847
20,066
3,686
3,522
19,636
26,823
4,095
819
34,399
10,000
45,000
2,252
2,662
4,000
2,293
6,143
5,324
4,423
819
10,000
18,682
19,399
12,655		
	Adopted Budget	
Actuals Thru	
Projected Next Projected Thru		Estimated Budget	
Description	FY2024	6/30/24	3 Months	9/30/24		at Buildout	

Clubhouse						
Management Fees	$	39,158	$	-	$	3,263	$	3,263		$	52,211	
Access Control	2,150	-	179	179		2,867	
Alarm Monitoring	1,229	-	102	102		1,638	
Pool Monitoring	9,623	-	802	802		12,831	
Utility - Electric	20,885	204	1,000	1,204		27,847	
Utility - Water & Sewer	15,050	-	1,254	1,254		20,066	
Cable/Internet Services	2,765	-	230	230		3,686	
Telephone	2,642	-	220	220		3,522	
Property Insurance	14,727	-	1,227	1,227		19,636	
Landscape Maintenance	20,117	-	1,676	1,676		26,823	
Landscape Replacement	3,071	-	256	256		4,095	
Pest Control	614	-	51	51		819	
Pool & Spa Maintenance	25,799	-	2,150	2,150		34,399	
Repairs and Maintenance	22,114	-	1,843	1,843		29,485	
Janitorial Maintenance	21,806	-	1,817	1,817		29,075	
Janitorial Supplies	1,689	-	141	141		2,252	
Office Equipment Maintenance	1,997	-	166	166		2,662	
Office Supplies/Clubhouse Supplies	5,222	-	435	435		6,962	
Air Conditioning Maintenance	1,720	-	143	143		2,293	
Fitness Equipment Maintenance	4,607	-	384	384		6,143	
Window Cleaning/Pressure Cleaning	3,993	-	333	333		5,324	
Porter Service	3,317	-	276	276		4,423	
Trash Collection	614	-	51	51		819	
Special Events	9,214	-	768	768		12,285	
Holiday Lighting	14,012	-	1,168	1,168		18,682	
Contingency	37,049	-	3,087	3,087		49,399	
Capital Reserve	9,491	-	9,491	9,491		12,655	
TOTAL CLUBHOUSE	$	294,674	$	204	$	32,515	$	32,719	$	371,261	$	392,899	
			
TOTAL EXPENDITURES	$	620,089	$	256,555	$	116,237	$	372,792	$	709,418	$	966,964	
			
EXCESS REVENUES (EXPENDITURES  $	-	$	116,237	$  (116,237)  $	-	$	-	$	-	

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.	
Special Assessments-Direct	
The District is levying platted lots direct to builder to fund general operating expenditures for the Fiscal Year.	
Developer Contribution	
The District entered into a funding agreement with the developer to fund all general operating expenditures for the Fiscal Year	
Interest	
The District earns interest on the monthly average collected balance for each of their investment accounts.	

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.	
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.	
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.	
Property Appraiser	
The Brevard County Board of Commissioners provides the District with a listing of the legal description of each property parcel within the District boundaries, and the names and addresses of the owners of such property. The District reimburses the Board of Commissioners for necessary administrative costs incurred to provide this service. Per the Florida Statutes, administrative costs shall include, but not be limited to, those costs associated with personnel, forms, supplies, data processing, computer equipment, postage, and programming. The budget for Board of Commissioners costs was based on a unit price per parcel.	
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.	
Postage and Delivery	
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.	

Expenditures - Administrative (continued)	
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	
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.	

Expenditures – Field	

Field Management	
The District has contract GMS, LLC to manage and operate the district.	
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 Weber Landscaping.	
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.	
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.	

Expenditures – 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.	
Utilities - Electric	
FPL electric meters for the Clubhouse.	
Utilities - 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	
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.	

Expenditures – Clubhouse (continued)	
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 Reserves	
Capital Reserve for future projects.	

Willow Creek	
Community Development District	
Adopted Budget	
Debt Service Series 2022 Capital Improvement Bonds	

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

REVENUES:

Special Assessments-On Roll	$	176,387	$	175,928	$	-	$	175,928	$	175,667	
Special Assessments - Prepayments	-	10,204	-	10,204	-	
Interest Earnings	500	6,938	1,800	8,738	3,500	
Carry Forward Surplus (1)	76,627	87,647	-	87,647	86,658	

TOTAL REVENUES	$	253,514	$	280,716	$	1,800	$	282,516	$	265,825	

EXPENDITURES:

Interest - 11/01	$	68,065	$	68,065	$	-	$	68,065	$	66,581	
Special Call - 11/01	-	10,000	-	10,000	-	
Interest - 05/01	68,065	67,793	-	67,793	66,581	
Principal - 05/01	40,000	40,000	-	40,000	40,000	
Special Call - 05/01	-	10,000	-	10,000	-	

TOTAL EXPENDITURES	$	176,130	$	195,858	$	-	$	195,858	$	173,163	

TOTAL EXPENDITURES	$	176,130	$	195,858	$	-	$	195,858	$	173,163	

EXCESS REVENUES (EXPENDITURES)	$	77,384	$	84,858	$	1,800	$	86,658	$	92,662	

Interest Due 11/1/25	$65,641	

(1) Carry Forward is Net of Reserve Requirement

Willow Creek	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2022 Capital Improvement Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

05/01/24	$	2,530,000	4.700%	$	50,000	$	67,793	$	-	
11/01/24	2,480,000	4.700%	-	66,581	184,374	
05/01/25	2,480,000	4.700%	40,000	66,581		
11/01/25	2,440,000	4.700%	-	65,641	172,223	
05/01/26	2,440,000	4.700%	40,000	65,641		
11/01/26	2,400,000	4.700%	-	64,701	170,343	
05/01/27	2,400,000	4.700%	45,000	64,701		
11/01/27	2,355,000	4.700%	-	63,644	173,345	
05/01/28	2,355,000	5.000%	45,000	63,644		
11/01/28	2,310,000	5.000%	-	62,519	171,163	
05/01/29	2,310,000	5.000%	50,000	62,519		
11/01/29	2,260,000	5.000%	-	61,269	173,788	
05/01/30	2,260,000	5.000%	50,000	61,269		
11/01/30	2,210,000	5.000%	-	60,019	171,288	
05/01/31	2,210,000	5.000%	55,000	60,019		
11/01/31	2,155,000	5.000%	-	58,644	173,663	
05/01/32	2,155,000	5.000%	55,000	58,644		
11/01/32	2,100,000	5.000%	-	57,269	170,913	
05/01/33	2,100,000	5.375%	60,000	57,269		
11/01/33	2,040,000	5.375%	-	55,656	172,925	
05/01/34	2,040,000	5.375%	65,000	55,656		
11/01/34	1,975,000	5.375%	-	53,909	174,566	
05/01/35	1,975,000	5.375%	65,000	53,909		
11/01/35	1,910,000	5.375%	-	52,163	171,072	
05/01/36	1,910,000	5.375%	70,000	52,163		
11/01/36	1,840,000	5.375%	-	50,281	172,444	
05/01/37	1,840,000	5.375%	75,000	50,281		
11/01/37	1,765,000	5.375%	-	48,266	173,547	
05/01/38	1,765,000	5.375%	80,000	48,266		
11/01/38	1,685,000	5.375%	-	46,116	174,381	
05/01/39	1,685,000	5.375%	85,000	46,116		
11/01/39	1,600,000	5.375%	-	43,831	174,947	
05/01/40	1,600,000	5.375%	85,000	43,831		
11/01/40	1,515,000	5.375%	-	41,547	170,378	
05/01/41	1,515,000	5.375%	90,000	41,547		
11/01/41	1,425,000	5.375%	-	39,128	170,675	
05/01/42	1,425,000	5.375%	95,000	39,128		
11/01/42	1,330,000	5.375%	-	36,575	170,703	
05/01/43	1,330,000	5.500%	100,000	36,575		
11/01/43	1,230,000	5.500%	-	33,825	170,400	
05/01/44	1,230,000	5.500%	110,000	33,825		
11/01/44	1,120,000	5.500%	-	30,800	174,625	
05/01/45	1,120,000	5.500%	115,000	30,800		
11/01/45	1,005,000	5.500%	-	27,638	173,438	
05/01/46	1,005,000	5.500%	120,000	27,638		
11/01/46	885,000	5.500%	-	24,338	171,975	
05/01/47	885,000	5.500%	130,000	24,338		
11/01/47	755,000	5.500%	-	20,763	175,100	
05/01/48	755,000	5.500%	135,000	20,763		
11/01/48	620,000	5.500%	-	17,050	172,813	
05/01/49	620,000	5.500%	140,000	17,050		
11/01/49	480,000	5.500%	-	13,200	170,250	
05/01/50	480,000	5.500%	150,000	13,200		
11/01/50	330,000	5.500%	-	9,075	172,275	
05/01/51	330,000	5.500%	160,000	9,075		
11/01/51	170,000	5.500%	-	4,675	173,750	
05/01/52	170,000	5.500%	170,000	4,675	174,675	
TOTAL			$	2,480,000	$	2,418,241	$	5,016,034	

Willow Creek	
Community Development District	
Non-Ad Valorem Assessments Comparison	
2024-2025	

Neighborhood	O&M Units	Bonds 2022
Units	
Annual Maintenance Assessments	
Annual Debt Assessments	
Total Assessed Per Unit	
	
FY 2025	
FY2024	Increase/ (decrease)	
FY 2025	
FY2024	Increase/ (decrease)	
FY 2025	
FY2024	Increase/ (decrease)	

On Roll												
Single Family-Phase 1	79	0	$900.00	$900.00	$0.00	$0.00	$0.00	$0.00	$900.00	$900.00	$0.00	
Single Family-Village D	72	71	$900.00	$900.00	$0.00	$765.90	$765.90	$0.00	$1,665.90	$1,665.90	$0.00	
Single Family-Village B	173	173	$900.00	$900.00	$0.00	$765.90	$765.90	$0.00	$1,665.90	$1,665.90	$0.00	
Total	324	244										

Page 9