Centre Lake	
Community Development District	

Adopted Budget	
FY 2025	

Table of Contents

1-2		General Fund	

3-6	
	Narratives	

7	
	Debt Service Fund Series 2016	

8	
	Series 2016 Amortization Schedule	

9	
	Debt Service Fund Series 2021	

10	
	Series 2021 Amortization Schedule	

11	
	Assessment Schedule	

Centre Lake	
Community Development District	
Adopted Budget	
General Fund	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2024	7/31/24	2 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments - On Roll	$682,321	$688,074	$-	$688,074	$682,321	
State Board Interest Income	3,500	30,924	6,185	37,109	20,000	
Party Rentals	2,500	1,360	1,140	2,500	2,500	
FOB - Access Cards	-	660	132	792	-	
Carry Forward Surplus	209,461	262,920	-	262,920	218,666	

TOTAL REVENUES	$897,782	$983,938	$7,457	$991,395	$923,488	

EXPENDITURES:

Administrative:						
Engineering	$15,000	$4,656	$3,750	$8,406	$15,000	
Attorney	25,000	9,915	3,305	13,220	25,000	
Annual Audit	6,100	6,100	-	6,100	6,200	
Assessment Roll	5,000	5,000	-	5,000	5,000	
Arbitrage Rebate	2,750	550	550	1,100	2,750	
Dissemination Agent	2,500	2,083	417	2,500	2,675	
Trustee Fees	6,500	6,500	-	6,500	6,500	
Management Fees	37,493	31,244	6,249	37,493	40,118	
Computer Time	1,200	1,000	200	1,200	1,200	
Website Maintenance	1,000	833	167	1,000	1,200	
Telephone	40	-	7	7	40	
Postage & Delivery	500	510	364	874	500	
Insurance General Liability	7,245	6,817	-	6,817	7,607	
Printing & Binding	600	37	7	44	600	
Legal Advertising	700	408	292	700	1,000	
Other Current Charges	600	60	100	160	600	
Office Supplies	90	0	15	15	90	
Dues, Licenses & Subscriptions	175	175	-	175	175	

TOTAL ADMINISTRATIVE	$112,493	$75,889	$15,423	$91,311	$116,255	
Operations & Maintenance						

Field Expenditures						
Field Management	$13,482	$11,235	$2,247	$13,482	$14,426	
Electric	8,000	6,518	1,304	7,821	9,000	
Water	3,000	-	500	500	3,000	
General Repairs	15,000	6,550	2,500	9,050	15,000	
Landscape Maintenance	65,000	48,100	11,100	59,200	65,000	
Plant Replacement	8,000	5,365	1,073	6,438	8,000	
Lake Maintenance	14,400	12,000	2,400	14,400	14,400	
Fountain Maintenance	7,200	6,000	1,200	7,200	7,200	
Midge Control	28,553	14,000	7,000	21,000	28,553	
Lake Debris Removal	2,000	-	333	333	2,000	
Holiday Decorations	11,500	11,500	-	11,500	11,500	

Centre Lake	
Community Development District	
Adopted Budget	
General Fund	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2024	7/31/24	2 Months	9/30/24	FY 2025	

Field Expenditures (continued)				-		
Sidewalk Maintenance	5,000	-	833	833	5,000	
Contingency	5,000	13,910	2,782	16,692	15,000	

TOTAL FIELD EXPENDITURES	$186,135	$135,178	$33,272	$168,450	$198,079	

Clubhouse Expenditures						
Management Fees	$204,600	$171,470	$34,294	$205,764	$220,600	
Janitorial Supplies	3,600	-	600	600	3,600	
Property Insurance	42,528	31,021	-	31,021	42,528	
Access Control	14,800	-	2,467	2,467	14,800	
Air Conditioning Maintenance	1,500	-	250	250	1,500	
Telephone	2,200	2,823	565	3,387	2,200	
Internet/Cable	4,800	3,378	676	4,054	4,800	
Electric	50,000	36,557	12,186	48,743	55,000	
Fire Alarm & Building Monitoring	2,400	482	400	882	2,400	
Refuse Services	8,400	7,464	1,493	8,957	9,400	
Water and Sewer	46,000	34,839	11,613	46,452	52,000	
Repairs and Maintenance	20,000	10,323	2,065	12,388	20,000	
Pool Maintenance	30,000	25,000	5,000	30,000	30,000	
Pool Repairs	20,000	18,730	1,270	20,000	20,000	
Landscape Maintenance	6,000	5,400	600	6,000	6,600	
Landscape Replacement	6,000	-	1,000	1,000	6,000	
Irrigation Repairs	2,400	-	400	400	2,400	
Fitness Equipment Maintenance	1,800	1,250	550	1,800	1,800	
Fitness Equipment Repair	8,000	2,628	526	3,153	8,000	
Pest Control	3,420	2,844	569	3,412	3,420	
Special Events	12,000	7,600	4,400	12,000	12,000	
Operating Supplies	8,000	7,147	1,429	8,577	8,000	
Contingencies	38,543	9,755	11,500	21,255	38,543	
Holiday Decoration	14,720	13,270	-	13,270	14,720	
Dues, Licenses & Subscription	1,000	500	500	1,000	1,000	
Reserves	46,443	-	26,137	26,137	27,843	

TOTAL AMENITY EXPENDITURES	$599,154	$392,480	$120,487	$512,967	$609,154	

TOTAL EXPENDITURES	$897,782	$603,546	$169,182	$772,728	$923,488	

EXCESS REVENUES (EXPENDITURES)	$0	$380,391	$(161,725)	$218,666	$	-	

Centre Lake	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

REVENUES	

Maintenance Assessments
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.	
Interest
The District earns interest on the monthly average collected balance for each of their operating 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.	
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.	
Arbitrage Rebate
The District has contracted with its independent auditors to annually calculate the arbitrage rebate liability on its bonds.	
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.	
Postage and Delivery
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.	

Centre Lake	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

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 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.	

Expenditures – Field	

Field Management
The District has a contract with Governmental Management Services, South Florida, LLC for on-site management. The responsibilities include reviewing contracts and other maintenance related items.	
Electricity
FPL provides electricity for Common Area Lighting.	
Water
Water cost for the for common areas such as fountains and entrances.	
General Repairs
Includes maintenance and repair work that may come up during the Fiscal Year.	
Landscape Maintenance
Common area lawn maintenance. Includes grass cutting and edging, quarterly fertilization, bi-monthly pest control and weed control.	
Plant Replacement
The District will go into contract for the replacement of plants needed along the common areas.	
Lake Maintenance
Includes monthly Lake Management Services for the Lakes in the District.	
Fountain Maintenance
This is the estimated cost for the maintenance of the fountains within the district.	
Midge Control
The District will hire a company to provide midge management services.	

Lake Debris
Removal Includes monthly cleaning and debris removal of all CDD lakes.	
Holiday Decorations
The District will hire a company to decorate the common grounds for the holidays.	
Sidewalk Maintenance
This line item is the estimated cost for the maintenance of the sidewalks.	
Contingency
Any unscheduled repairs and maintenance that the District should incur during the fiscal year.	

Centre Lake	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

Expenditures – Clubhouse	

Management Fees	
The District has contracted Miami Management Services to staff the Clubhouse and manage the day to day operations in accordance with their contract.	
Janitorial Supplies	
Includes additional janitorial and cleaning supplies needed to maintain the club.	
Insurance	
The District's property insurance is with Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.	
Access Control	
Includes camera monthly fee, also includes access cards and repairs.	
Air Conditioning Maintenance	
Estimated cost to maintain the air conditioning system.	
Telephone	
Cost of telephone lines for telephone, internet, fax and alarm systems.	
Cable and Internet	
Estimated cost of cable TV and internet for the Club with AT&T and Direct TV as needed.	
Electric	
FPL provides electricity for the club house.	
Fire Alarm & Building Monitoring	
Estimated cost of the fire alarm and building alarm monitoring services.	
Trash Collection/Refuse	
The cost of trash and recycling removal.	
Water & Sewer	
Water and sewer cost for the Club.	
Repairs/Maintenance	
Maintenance expenditures required to repair and maintain the Club.	
Pool Maintenance	
Cost to maintain the pool, does not include repairs.	
Pool Repairs	
Cost to make unanticipated repairs to the pool.	
Landscape Maintenance	
Maintaining the lawn and plants around the clubhouse area.	
Landscape Replacements	
Includes replacing plants and mulch around the clubhouse area.	
Irrigation Repairs	
Irrigation repairs within the clubhouse areas and irrigation system repair materials.	
Fitness Equipment Maintenance	
Estimated cost to maintain the circuit training equipment.	
Fitness Equipment Repairs	
Estimated cost to repair the circuit training equipment.	
Pest Control	
Preventative maintenance for bugs and rodents.	

Centre Lake	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

Expenditures – Clubhouse (continued)	
Special Events	
Expenses related to Social Events hosted for residients.	
Operating Supplies	
Supplies needed to operate day to day funtions for the Club and Club Office.	
Contingency	
Any unscheduled repairs and maintenance that the District should incur during the fiscal year	
Holiday Decorations	
The District will hire a company to decorate the clubhouse for the holidays	
Dues, Licenses & Subscriptions	
The club is required to renew pool permits and licenses annually.	
Reserves	
Any future unforeseen expenditures the clubhouse the Clubhouse will encounter during the fiscal year.	

Centre Lake	
Community Development District	
Adopted Budget	
Debt Service Series 2016 Special Assessment Revenue Refunding Bonds	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description

REVENUES:	FY2024	7/31/24	2 Months	9/30/24	FY 2025	
Special Assessments-On Roll	$676,618	$682,089	$-	$682,089	$676,618	
Interest Earnings	5,000	41,632	8,326	49,958	15,000	
Carry Forward Surplus (1)	571,191	572,506	-	572,506	636,443	

TOTAL REVENUES	$1,252,809	$1,296,228	$8,326	$1,304,554	$1,328,061	

EXPENDITURES:

Interest - 12/15	$221,428	$221,428	$-	$221,428	$216,684	
Principal - 12/15	230,000	230,000	-	230,000	240,000	
Interest - 06/15	216,684	216,684	-	216,684	211,734	

TOTAL EXPENDITURES	$668,111	$668,111	$-	$668,111	$668,418	

TOTAL EXPENDITURES	$668,111	$668,111	$-	$668,111	$668,418	

EXCESS REVENUES (EXPENDITURES)	$584,698	$628,117	$8,326	$636,443	$659,644	

Interest Due 12/15/2025	$211,733.75	
Principal Due 12/15/2025	$250,000.00	
	$461,733.75	

(1) Carry Forward is Net of Reserve Requirement

Centre Lake	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2016	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

12/15/24	9,360,000	4.125%	240,000	$216,683.75	668,417.50	
06/15/25	9,120,000	4.125%	-	$211,733.75		
12/15/25	9,120,000	4.125%	250,000	$211,733.75	668,311.25	
06/15/26	8,870,000	4.125%	-	$206,577.50		
12/15/26	8,870,000	4.125%	260,000	$206,577.50	667,792.50	
06/15/27	8,610,000	4.125%	-	$201,215.00		
12/15/27	8,610,000	4.125%	270,000	$201,215.00	666,861.25	
06/15/28	8,340,000	4.500%	-	$195,646.25		
12/15/28	8,340,000	4.500%	285,000	$195,646.25	669,880.00	
06/15/29	8,055,000	4.500%	-	$189,233.75		
12/15/29	8,055,000	4.500%	295,000	$189,233.75	666,830.00	
06/15/30	7,760,000	4.500%	-	$182,596.25		
12/15/30	7,760,000	4.500%	310,000	$182,596.25	668,217.50	
06/15/31	7,450,000	4.500%	-	$175,621.25		
12/15/31	7,450,000	4.500%	325,000	$175,621.25	668,930.00	
06/15/32	7,125,000	4.500%	-	$168,308.75		
12/15/32	7,125,000	4.500%	340,000	$168,308.75	668,967.50	
06/15/33	6,785,000	4.700%	-	$160,658.75		
12/15/33	6,785,000	4.700%	355,000	$160,658.75	667,975.00	
06/15/34	6,430,000	4.700%	-	$152,316.25		
12/15/34	6,430,000	4.700%	370,000	$152,316.25	665,937.50	
06/15/35	6,060,000	4.700%	-	$143,621.25		
12/15/35	6,060,000	4.700%	385,000	$143,621.25	663,195.00	
06/15/36	5,675,000	4.700%	-	$134,573.75		
12/15/36	5,675,000	4.700%	405,000	$134,573.75	664,630.00	
06/15/37	5,270,000	4.700%	-	$125,056.25		
12/15/37	5,270,000	4.700%	425,000	$125,056.25	665,125.00	
06/15/38	4,845,000	4.750%	-	$115,068.75		
12/15/38	4,845,000	4.750%	445,000	$115,068.75	664,568.75	
06/15/39	4,400,000	4.750%	-	$104,500.00		
12/15/39	4,400,000	4.750%	465,000	$104,500.00	662,956.25	
06/15/40	3,935,000	4.750%	-	$93,456.25		
12/15/40	3,935,000	4.750%	485,000	$93,456.25	660,393.75	
06/15/41	3,450,000	4.750%	-	$81,937.50		
12/15/41	3,450,000	4.750%	510,000	$81,937.50	661,762.50	
06/15/42	2,940,000	4.750%	-	$69,825.00		
12/15/42	2,940,000	4.750%	535,000	$69,825.00	661,943.75	
06/15/43	2,405,000	4.750%	-	$57,118.75		
12/15/43	2,405,000	4.750%	560,000	$57,118.75	660,937.50	
06/15/44	1,845,000	4.750%	-	$43,818.75		
12/15/44	1,845,000	4.750%	585,000	$43,818.75	658,743.75	
06/15/45	1,260,000	4.750%	-	$29,925.00		
12/15/45	1,260,000	4.750%	615,000	$29,925.00	660,243.75	
06/15/46	645,000	4.750%	-	$15,318.75		
12/15/46	645,000	4.750%	645,000	$15,318.75	660,318.75	

TOTAL	$9,360,000	$5,932,939	$15,292,939	

Centre Lake	
Community Development District	
Adopted Budget	
Debt Service Series 2021 Special Assessment Revenue Refunding Bonds	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description

REVENUES:	FY2024	7/31/24	2 Months	9/30/24	FY 2025	
Special Assessments-On Roll	$554,100	$558,581	$-	$558,581	$554,100	
Interest Earnings	3,000	13,741	2,748	16,489	8,000	
Carry Forward Surplus (1)	191,150	190,886	-	190,886	212,319	

TOTAL REVENUES	$748,250	$763,208	$2,748	$765,956	$774,419	

EXPENDITURES:

Interest - 11/1	$169,319	$169,319	$-	$169,319	$166,363	
Interest - 5/1	169,319	169,319	-	169,319	166,363	
Principal - 5/1	215,000	215,000	-	215,000	220,000	

TOTAL EXPENDITURES	$553,638	$553,638	$-	$553,638	$552,725	

TOTAL EXPENDITURES	$553,638	$553,638	$-	$553,638	$552,725	

EXCESS REVENUES (EXPENDITURES)	$194,612	$209,571	$2,748	$212,319	$221,694	

Interest Due 11/1/2025	$163,338	

(1) Carry Forward is Net of Reserve Requirement

Centre Lake	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2016	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	
11/01/24	9,715,000	2.750%	-	$166,362.50	552,725.00	
05/01/25	9,715,000	2.750%	220,000	$166,362.50		
11/01/25	9,495,000	2.750%	-	$163,337.50	556,675.00	
05/01/26	9,495,000	2.750%	230,000	$163,337.50		
11/01/26	9,265,000	2.750%	-	$160,175.00	555,350.00	
05/01/27	9,265,000	2.750%	235,000	$160,175.00		
11/01/27	9,030,000	2.750%	-	$156,943.75	553,887.50	
05/01/28	9,030,000	2.750%	240,000	$156,943.75		
11/01/28	8,790,000	2.750%	-	$153,643.75	557,287.50	
05/01/29	8,790,000	2.750%	250,000	$153,643.75		
11/01/29	8,540,000	2.750%	-	$150,206.25	555,412.50	
05/01/30	8,540,000	2.750%	255,000	$150,206.25		
11/01/30	8,285,000	2.750%	-	$146,700.00	553,400.00	
05/01/31	8,285,000	2.750%	260,000	$146,700.00		
11/01/31	8,025,000	2.750%	-	$143,125.00	556,250.00	
05/01/32	8,025,000	3.000%	270,000	$143,125.00		
11/01/32	7,755,000	3.000%		$139,075.00	558,150.00	
05/01/33	7,755,000	3.000%	280,000	$139,075.00		
11/01/33	7,475,000	3.000%	-	$134,875.00	554,750.00	
05/01/34	7,475,000	3.000%	285,000	$134,875.00		
11/01/34	7,190,000	3.000%	-	$130,600.00	556,200.00	
05/01/35	7,190,000	3.000%	295,000	$130,600.00		
11/01/35	6,895,000	3.000%	-	$126,175.00	557,350.00	
05/01/36	6,895,000	3.000%	305,000	$126,175.00		
11/01/36	6,590,000	3.000%	-	$121,600.00	558,200.00	
05/01/37	6,590,000	3.000%	315,000	$121,600.00		
11/01/37	6,275,000	3.000%	-	$116,875.00	558,750.00	
05/01/38	6,275,000	3.000%	325,000	$116,875.00		
11/01/38	5,950,000	3.000%	-	$112,000.00	559,000.00	
05/01/39	5,950,000	3.000%	335,000	$112,000.00		
11/01/39	5,615,000	3.000%	-	$106,975.00	558,950.00	
05/01/40	5,615,000	3.000%	345,000	$106,975.00		
11/01/40	5,270,000	3.000%	-	$101,800.00	558,600.00	
05/01/41	5,270,000	3.000%	355,000	$101,800.00		
11/01/41	4,915,000	3.000%	-	$96,475.00	557,950.00	
05/01/42	4,915,000	3.000%	365,000	$96,475.00		
11/01/42	4,550,000	3.000%	-	$91,000.00	557,000.00	
05/01/43	4,550,000	4.000%	375,000	$91,000.00		
11/01/43	4,175,000	4.000%	-	$83,500.00	562,000.00	
05/01/44	4,175,000	4.000%	395,000	$83,500.00		
11/01/44	3,780,000	4.000%	-	$75,600.00	561,200.00	
05/01/45	3,780,000	4.000%	410,000	$75,600.00		
11/01/45	3,370,000	4.000%	-	$67,400.00	559,800.00	
05/01/46	3,370,000	4.000%	425,000	$67,400.00		
11/01/46	2,945,000	4.000%	-	$58,900.00	562,800.00	
05/01/47	2,945,000	4.000%	445,000	$58,900.00		
11/01/47	2,500,000	4.000%	-	$50,000.00	560,000.00	
05/01/48	2,500,000	4.000%	460,000	$50,000.00		
11/01/48	2,040,000	4.000%	-	$40,800.00	561,600.00	
05/01/49	2,040,000	4.000%	480,000	$40,800.00		
11/01/49	1,560,000	4.000%	-	$31,200.00	562,400.00	
05/01/50	1,560,000	4.000%	500,000	$31,200.00		
11/01/50	1,060,000	4.000%	-	$21,200.00	562,400.00	
05/01/51	1,060,000	4.000%	520,000	$21,200.00		
11/01/51	540,000	4.000%	-	$10,800.00	561,600.00	
05/01/52	540,000	4.000%	540,000	$10,800.00		
TOTAL			$9,715,000	$5,914,688	$15,629,688	

Centre Lake	
Community Development District	
Non-Ad Valorem Assessments Comparison	
2024-2025	

Product Type	O&M Units	Bonds Units	Annual Maintenance Assessments	Annual Debt Assessments	Total Assessed Per Unit	
	FY 2025	FY 2024	Increase	FY 2025	FY 2024	Increase	FY 2025	FY 2024	Increase	
			Admin & Field	Clubhouse	Total	Admin & Field	Clubhouse	Total		Series 2016	Series 2021	Series 2016	Series 2021					
Single Family	256	256	$526.32	$963.79	$1,490.11	$526.32	$963.79	$1,490.11	$0.00	$1,767.76	$1,210.09	$1,767.76	$1,210.09	$0.00	$4,467.96	$4,467.96 	$0.00	
Townhomes	226	226	$526.32	$963.79	$1,490.11	$526.32	$963.79	$1,490.11	$0.00	$1,149.04	$1,210.09	$1,149.04	$1,210.09	$0.00	$3,849.24	$3,849.24	$0.00	
Total	482	482											

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