Willow Creek	
Community Development District	

Approved Proposed Budget	
FY 2027	

Table of Contents

1-2	General Fund

3-4	Exhibit A - Shared cost

5-6	Narratives

7-8	Debt Service Fund Series 2022

9	Assessment Schedule

Willow Creek	
Community Development District	
Approved Proposed Budget	
General Fund	

REVENUES:

Special Assessments - On Roll	$	274,104	$	265,368	$	8,737	$	274,104	$	274,104	
Developer Contribution	26,446	26,446	-	26,446	75,677	
Interest income	-	2,542	2,000	4,542	1,800	
Carry Forward Surplus	-	-	-	-	26,440	

TOTAL REVENUES	$	300,550	$	294,356	$	10,737	$	305,093	$	378,021	

EXPENDITURES:

Administrative						
Engineering	$	10,000	$	-	$	5,000	$	5,000	$	10,000	
Attorney	30,000	4,385	15,615	20,000	30,000	
Annual Audit	5,100	5,100	-	5,100	5,200	
Assessment Administration	2,000	2,000	-	2,000	2,000	
Dissemination Agent	2,675	1,338	1,338	2,675	2,675	
Trustee Fees	5,000	-	5,000	5,000	5,000	
Management Fees	41,659	20,829	20,829	41,659	41,659	
Property Appraiser	150	244	-	244	250	
Information Technology	1,000	500	500	1,000	1,000	
Website Maintenance	1,605	803	803	1,605	1,605	
Postage & Delivery	800	12	100	112	500	
Insurance General Liability	8,879	5,751	-	5,751	6,326	
Printing & Binding	500	-	100	100	500	
Legal Advertising	1,000	677	1,000	1,677	1,000	
Other Current Charges	898	337	561	898	898	
Office Supplies	100	0	50	50	100	
Dues, Licenses & Subscriptions	175	175	-	175	175	
First Quarter Operating Capital	-	-	-	-	26,440	
TOTAL ADMINISTRATIVE	$	111,541	$	42,150	$	50,895	$	93,045	$	135,328	

Operations & Maintenance
Field Expenditures

Utilities - Electric	$	25,020	$	10,734	$	12,000	$	22,734	$	25,020	
Utilities - Streetlights	19,200	16,415	16,722	33,137	33,449	
Utilities - Water & Sewer	5,736	4,360	8,916	13,276	12,000	
Property Taxes	-	70	-	70	100	
Shared Cost**	66,085	28,747	28,818	57,564	94,013	

TOTAL FIELD EXPENDITURES	$	116,041	$	60,326	$	66,456	$	126,781	$	164,582	

Amenity *
Shared Cost *

$	72,969	$

31,562	$

27,263	$

58,826	$

78,111

Willow Creek	
Community Development District	
Approved Proposed Budget	
General Fund	

TOTAL AMENITY *	$	72,969	$	31,562	$	27,263	$	58,826	$	78,111	

TOTAL EXPENDITURES	$	300,550	$	134,038	$	144,614	$	278,652	$	378,021	

EXCESS REVENUES (EXPENDITURES)	$	-	$	160,318	$	(133,877)	$	26,440	$	-	

*Amenity has transferred in February 2025 to Willow Creek II CDD.	
** Interlocal-Governmental Shared Cost Expense with Willow Creek II CDD	

Product	Assessable Units	Total Gross Assessment	FY26
Gross Per Unit	FY27
Gross Per Unit	increase/ (decrease)	

Single Family - 65'	79	$	71,100	$	900.00	$	900.00	$	0.00	
Single Family - 50'	72	$	64,800	$	900.00	$	900.00	$	0.00	
Single Family - 50'	173	$	155,700	$	900.00	$	900.00	$	0.00	

Total	324	$	291,600	
Less Collection Fees & Discounts (6%)		 $	17,496 	
Net Assessments		 $	274,104 	

			
		Proposed Budget	
	Shared Cost	Willow Creek II	
		CDD	
Description	FY 2027	FY 2027	
	23.91%		
Special Assessments - On Roll	$	-	$	-	
Special Assessments - Direct	-	-	
Developer Contribution	-	-	
Interlocal-Governmental Revenue	-	172,124	
Carry Forward Surplus	-	-	
TOTAL REVENUES	$	-	$	172,124	

Administrative			
Supervisor Fees	$	-		
FICA Taxes	-		
Engineering	-		
Attorney	-		
Annual Audit	-		
Assessment Administration	-		
Arbitrage Rebate	-		
Dissemination Agent	-		
Trustee Fees	-		
Management Fees	-		
Property Appraiser	-		
Information Technology	-		
Website Maintenance	-		
Postage & Delivery	-		
Insurance General Liability	-		
Printing & Binding	-		
Legal Advertising	-		
Other Current Charges	-		
Office Supplies	-		
Dues, Licenses & Subscriptions	-		
TOTAL ADMINISTRATIVE	$	-	$	-	
Operations & Maintenance			
Field Expenditures			
Field Management	$	3,159	$	13,212	
Utility-Irrigation (WC II)	1,148	4,800	
Irrigation Maintenance (WC II)	1,148	4,800	
Landscape Maintenance	68,946	288,340	
Mulch	10,760	45,000	
Pest Control	239	1,000	
Lake Maintenance	4,691	19,620	
Wetlands/Preserves	1,196	5,000	
Pressure Washing	1,196	5,000	
Contingency	1,530	6,400	
	-	-	
TOTAL FIELD EXPENDITURES	$	94,013	$	393,172	

	
Estimated Budget

at Buildout	

$	-
-
-
-
-	
$	-	

$	-
- 10,000
30,000
4,900
2,000
550
2,675
5,000
38,934
150
1,000
1,605
1,200
7,575
500
1,000
1,220
100
175	
$	108,584	

$	27,682
4,800
4,800
180,000
- 1,000
22,000
30,000
10,000
105,000
-	
$	385,282	

			
		Proposed Budget	
	Shared Cost	Willow Creek II	
		CDD	
Description	FY 2027	FY 2027	
	23.91%		

Amenity 			
Management Fees	$	19,655	$	82,200	
Access Control	686	2,867	
Alarm Monitoring	244	1,020	
Pool Monitoring	244	1,020	
Utility - Electric	7,173	30,000	
Utility - Water & Sewer	1,722	7,200	
Cable/Internet Services	861	3,600	
Telephone	-	-	
Property Insurance	5,303	22,177	
Property Taxes	598	2,500	
Landscape Maintenance	4,940	20,660	
Landscape Replacement	979	4,095	
Pest Control	196	819	
Pool & Spa Maintenance	5,911	24,720	
Repairs and Maintenance	7,050	29,485	
Janitorial Maintenance	6,798	28,428	
Janitorial Supplies	538	2,252	
Office Equipment Maintenance	637	2,664	
Office Supplies/Clubhouse Supplies	956	4,000	
Air Conditioning Maintenance	550	2,300	
Fitness Equipment Lease	-	-	
Fitness Equipment Maintenance	1,273	5,324	
Window Cleaning/Pressure Cleaning	1,273	5,325	
Porter Service	1,052	4,400	
Trash Collection	191	800	
Special Events	4,467	18,682	
Holiday Lighting	2,391	10,000	
Contingency	31	130	
Capital Outlay	-	-	
Capital Reserve	2,391	10,000	
TOTAL AMENITY	$	78,111	$326,668	
			
TOTAL EXPENDITURES	$	172,124	$	719,840	

	
Estimated Budget

at Buildout	

$	100,000
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
50,000
2,252
2,662
6,962
2,293
6,143
5,324
4,423
819
12,285
18,682
49,399
12,150
- 12,000	
$473,108	
	
$	966,974	
at Buildout	

Net Assessments $	966,974
Collection Fees & Discounts (6%) 	61,722 

Gross Assessments	$	1,028,695	
No. of Units	1,143	
Per Unit Assessments (Net)	$	846.00	
Per Unit Assessments (Gross/tax bill))	$	900.00	

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 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 their investment account.	

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-CF, 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.	
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 – CF, 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-CF, LLC and updated monthly.	
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	

Utilities - Electric				
FPL provides electricity to entrance and lift station.	
Location	Vendor	Monthly	Total	
1101 Willow Creek Blvd - Entrance	FPL	35	420	
7705 Fortana Way - Lift Station	FPL	60	720	
1135 Willow Creek Blvd Pump Fount	FPL	700	8,400	
8059 Cortese DR #LS	FPL	90	1,080	
1401 Willow Creek Blvd - Fountain	FPL	600	7,200	
7893 Turchetta Ct - Meter #3048690	FPL	600	7,200	
		Total	25,020	
Utilities - Streetlights				
FPL streetlight meters throughout the district.	
Location	Vendor	Monthly	Total	
1125 Willow Creek Blvd SL	FPL	2,787	33,449	
Utilities - Water & Sewer				
City of Titusville provides water and sewer service to the district.	
Location	Vendor	Monthly	Total	
7705 Fortana Way LS	City of Titusville	15	180	
1135 Willow Creek Blvd	City of Titusville	64	768	
8516 Cortese Dr	City of Titusville	821	9,852	
8556 Cortese Dr	City of Titusville	100		1,200 	
		Total	12,000	
Property Taxes				
Non-ad valorem taxes the District incurs relating to the amenity center location.	
Interlocal-Governmental Expense				
Field expenditures paid by Willow Creek II CDD shared 23.91% per Interlocal & Cost Share Agreement.	

Expenditures – Amenity	

Interlocal-Governmental Expense	
Amenity expenditures paid by Willow Creek II CDD shared 23.91% per Interlocal & Cost Share Agreement.	

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

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Approved
Proposed Budget	
Description	FY2026	3/31/26	6 Months	9/30/26	FY 2027	

REVENUES:

Special Assessments-On Roll	$	174,947	$	168,961	$	5,986	$	174,947	$	174,947	
Interest Earnings	3,500	3,453	1,000	4,453	3,500	
Carry Forward Surplus (1)	97,423	97,155	-	97,155	105,272	

TOTAL REVENUES	$	275,869	$	269,569	$	6,986	$	276,555	$	283,719	

EXPENDITURES:

Interest - 11/01	$	65,641	$	65,641	$	-	$	65,641	$	64,701	
Interest - 05/01	65,641	-	65,641	65,641	64,701	
Principal - 05/01	40,000	-	40,000	40,000	45,000	

TOTAL EXPENDITURES	$	171,283	$	65,641	$	105,641	$	171,283	$	174,403	

TOTAL EXPENDITURES	$	171,283	$	65,641	$	105,641	$	171,283	$	174,403	

EXCESS REVENUES (EXPENDITURES)	$	104,587	$	203,928	$	(98,656)	$	105,272	$	109,317	

Interest Due 11/1/27	$	63,644	

(1) Carry Forward is Net of Reserve Requirement

Product	Assessable Units	Total Gross Assessment	FY26
Gross Per Unit	FY27
Gross Per Unit	Increase/ (Decrease)	

Single Family - 50'	71	$	54,378.90	$	765.90	$	765.90	$	-	
Single Family - 50'	172	$	131,734.80	$	765.90	$	765.90	$	-	

Total	243	$	186,114	
Less Collection Fees & Discounts (6%)			11,167 	
Net Assessments		 $	174,947 	

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

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

05/31/22	$	2,575,000	4.700%	$	-	$	-	$	-	
11/01/22	2,575,000	4.700%	-	57,789	57,789	
05/01/23	2,575,000	4.700%	35,000	68,888		
11/01/23	2,540,000	4.700%	10,000	68,065	181,953	
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			$	2,575,000	$	2,680,776	$	5,255,776	

Willow Creek	
Community Development District	
Non-Ad Valorem Assessments Comparison	
2026-2027	

Neighborhood	O&M Units	Bonds 2022
Units	
Annual Maintenance Assessments	
Annual Debt Assessments	
Total Assessed Per Unit	
	
FY 2027	
FY2026	Increase/ (decrease)	
FY 2027	
FY2026	Increase/ (decrease)	
FY 2027	
FY2026	Increase/ (decrease)	

On Roll Phase 1
Single Family - 65'	

79	

0	

$900.00	

$900.00	

$0.00	

$0.00	

$0.00	

$0.00	

$900.00	

$900.00	

$0.00	

Village B
Single Family - 50'	

173	

172	

$900.00	

$900.00	

$0.00	

$765.90	

$765.90	

$0.00	

$1,665.90	

$1,665.90	

$0.00	

Village D
Single Family - 50'	

72	

71	

$900.00	

$900.00	

$0.00	

$765.90	

$765.90	

$0.00	

$1,665.90	

$1,665.90	

$0.00	
Total	324	243										

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