Adopted Budget	
Fiscal Year 2024	

Veranda Landing	
Community Development District	

August 3, 2023

Veranda Landing	
Community Development District	

General Fund

Adopted	
Budget	
	FY 2023		

Actual	
thru	
  6/30/2023 	

Projected	
Next	
  3 Months		

Total	
Projected at	
  9/30/2023 	

Adopted	
Budget	
	FY 2024		

Revenues	
Developer Contributions	

 Description	

$69,175	$16,307	$27,204	$43,511	$69,175

Total Revenues		$69,175 		$16,307 		$27,204 		$43,511 		$69,175 

Expenditures

Administrative

Engineering	
Arbitrage	
Dissemination Agent	
Assessment Roll	
Attorney	
Annual Audit	
Trustee Fees	
Management Fees	
Computer Time	
Postage	
Printing & Binding	
Insurance	
Legal Advertising	
Other Current Charges	
Website Compliance	
Office Supplies	
Dues-Annual Fee DEO	

$5,000	
$600	
$2,500	
$2,000	
$14,000	
$5,000	
$4,000	
$25,000	
$600	
$800	
$500	
$5,000	
$1,500	
$1,000	
$1,500	
$0	
$175	

$0	
$0	
$0	
$0	
$10,515	
$0	
$0	
$9,812	
$0	
$24	
$181	
$2,342	
$3,143	
$125	
$0	
$83	
$150	

$2,500	
$0	
$0	
$0	
$5,258	
$0	
$0	
$6,250	
$450	
$150	
$250	
$0	
$850	
$250	
$1,125	
$28	
$25	

$2,500	
$0	
$0	
$0	
$15,773	
$0	
$0	
$16,062	
$450	
$174	
$431	
$2,342	
$3,993	
$375	
$1,125	
$111	
$175	

$5,000	
$550	
$2,500	
$2,000	
$14,000	
$5,000	
$4,100	
$25,000	
$500	
$500	
$500	
$5,500	
$1,500	
$850	
$1,500	
$0	
$175	

Total Expenditures		$69,175 			$26,375 			$17,135 			$43,511 			$69,175 	
Assigned Fund Balance		$0 			($10,068)			$10,068 			$0 			$0 	

Annual Net	Annual Gross	Annual Gross	
O&M	O&M	O&M	
	Land Use	 No. of Units 		Per Unit			Per Unit			Total	

On Roll:
Townhomes	230	$302.70	$326.92	$75,190.68

Gross Assessments	$75,190.68 Less: Discounts/Commissions (8%)  -$6,015.25 Net Assessments	$69,175.43	

Page 1

Veranda Landing
Community Development District
GENERAL FUND BUDGET

REVENUES:

Developer Contributions/Assessments

The District will levy a Non-Ad Valorem assessment on all the platted lots within the District to pay all of the operating expenses for the Fiscal Year in accordance with the adopted budget.

EXPENDITURES:

Administrative:

Engineering Fees

The District's engineer will be providing general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review invoices, etc.

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.

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.

Assessment Roll

Represents cost associated with annually levying and collection Non-Ad Valorem Assessments utilized to fund the operating and debt service cost of the District.

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 & 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.

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.

Page 2

Veranda Landing
Community Development District
GENERAL FUND BUDGET

Administrative: (continued)

Computer Time

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.

Telephone

Telephone and fax machine

Postage

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

Insurance

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 & Binding

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

Legal Advertising

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

Other Current Charges

Bank charges and any other miscellaneous expenses that incurred during the year.

Website Administration

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.

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.

Page 3

Veranda Landing	
Community Development District	

 	
Debt Service Fund	
Series 2023 Special Assessment Bond	

Adopted	
Budget	
	FY 2023		

Actual	
thru	
  6/30/2023 	

Projected	
Next	
  3 Months		

Total	
Projected at	
  9/30/2023 	

Adopted	
Budget	
	FY 2024		

 Description	

Revenues	
Interest Income	
Assessments	
Carry Forward Surplus (1)	

$0	
$0	
$0	

$0	
$0	
$0	

$0	
$0	
$0	

$0	
$0	
$0	

$500	
$204,016	
$50,222	

Total Revenues

Expenditures

Series 2023		$0 			$0 			$0 			$0 			$254,738 	
Interest Expense - 12/15/23 Interest Expense - 06/15/24 Principal Expense - 06/15/24										
Total Expenditures		$0 			$0 			$0 			$0 			$175,222 	

$0	
$0	
$0	

$0	
$0	
$0	

$0	
$0	
$0	

$0	
$0	
$0	

$50,222	
$80,000	
$45,000	

Other Financing Sources/(Uses)

Bond Proceeds	$152,888	$0	$152,888	$152,888	$0

Total Other Financing Sourc 	$152,888 		$0 		$152,888 		$152,888 		$0 

EXCESS REVENUES		$152,888 		$0 		($152,888)		$152,888 		$79,516 

(1) Carry forward is net of Reserve Fund requirement.	12/15/24 Interest	$79,493.75

Annual Net	Annual Gross	Annual Gross	
Assessment	Assessment	Assessment	
	Land Use	 No. of Units 		Per Unit			Per Unit			Total	

On Roll:
Townhomes	230	$892.74	$964.16	$221,756.62

Gross Assessments	$221,756.62 Less: Discounts/Commissions (8%)  -$17,740.53 Net Assessments	$204,016.09	

Page 4

Veranda Landing	
Community Development District	

 	
Series 2023 Special Assessment Bond	
Amortization Schedule	

PRINCIPAL	
DATE	BALANCE	INTEREST	PRINCIPAL	TOTAL	
15-Dec-23	$3,025,000.00	$50,222.22	$0.00	$50,222.22	
15-Jun-24	$3,025,000.00	$80,000.00	$45,000.00	
15-Dec-24	$2,980,000.00	$78,987.50	$0.00	$203,987.50	
15-Jun-25	$2,980,000.00	$78,987.50	$45,000.00	
15-Dec-25	$2,935,000.00	$77,975.00	$0.00	$201,962.50	
15-Jun-26	$2,935,000.00	$77,975.00	$50,000.00	
15-Dec-26	$2,885,000.00	$76,850.00	$0.00	$204,825.00	
15-Jun-27	$2,885,000.00	$76,850.00	$50,000.00	
15-Dec-27	$2,835,000.00	$75,725.00	$0.00	$202,575.00	
15-Jun-28	$2,835,000.00	$75,725.00	$55,000.00	
15-Dec-28	$2,780,000.00	$74,487.50	$0.00	$205,212.50	
15-Jun-29	$2,780,000.00	$74,487.50	$55,000.00	
15-Dec-29	$2,725,000.00	$73,250.00	$0.00	$202,737.50	
15-Jun-30	$2,725,000.00	$73,250.00	$60,000.00	
15-Dec-30	$2,665,000.00	$71,900.00	$0.00	$205,150.00	
15-Jun-31	$2,665,000.00	$71,900.00	$60,000.00	
15-Dec-31	$2,605,000.00	$70,325.00	$0.00	$202,225.00	
15-Jun-32	$2,605,000.00	$70,325.00	$65,000.00	
15-Dec-32	$2,540,000.00	$68,618.75	$0.00	$203,943.75	
15-Jun-33	$2,540,000.00	$68,618.75	$65,000.00	
15-Dec-33	$2,475,000.00	$66,912.50	$0.00	$200,531.25	
15-Jun-34	$2,475,000.00	$66,912.50	$70,000.00	
15-Dec-34	$2,405,000.00	$65,075.00	$0.00	$201,987.50	
15-Jun-35	$2,405,000.00	$65,075.00	$75,000.00	
15-Dec-34	$2,330,000.00	$63,106.25	$0.00	$203,181.25	
15-Jun-36	$2,330,000.00	$63,106.25	$80,000.00	
15-Dec-36	$2,250,000.00	$61,006.25	$0.00	$204,112.50	
15-Jun-37	$2,250,000.00	$61,006.25	$85,000.00	
15-Dec-37	$2,165,000.00	$58,775.00	$0.00	$204,781.25	
15-Jun-38	$2,165,000.00	$58,775.00	$90,000.00	
15-Dec-38	$2,075,000.00	$56,412.50	$0.00	$205,187.50	
15-Jun-39	$2,075,000.00	$56,412.50	$95,000.00	
15-Dec-39	$1,980,000.00	$53,918.75	$0.00	$205,331.25	
15-Jun-40	$1,980,000.00	$53,918.75	$95,000.00	
15-Dec-40	$1,885,000.00	$51,425.00	$0.00	$200,343.75	
15-Jun-41	$1,885,000.00	$51,425.00	$105,000.00	
15-Dec-41	$1,780,000.00	$48,668.75	$0.00	$205,093.75	
15-Jun-42	$1,780,000.00	$48,668.75	$110,000.00	
15-Dec-42	$1,670,000.00	$45,781.25	$0.00	$204,450.00	
15-Jun-43	$1,670,000.00	$45,781.25	$115,000.00	
15-Dec-43	$1,555,000.00	$42,762.50	$0.00	$203,543.75	
15-Jun-44	$1,555,000.00	$42,762.50	$120,000.00	
15-Dec-44	$1,435,000.00	$39,462.50	$0.00	$202,225.00	
15-Jun-45	$1,435,000.00	$39,462.50	$125,000.00	
15-Dec-45	$1,310,000.00	$36,025.00	$0.00	$200,487.50	
15-Jun-46	$1,310,000.00	$36,025.00	$135,000.00	
15-Dec-46	$1,175,000.00	$32,312.50	$0.00	$203,337.50	
15-Jun-47	$1,175,000.00	$32,312.50	$140,000.00	
15-Dec-47	$1,035,000.00	$28,462.50	$0.00	$200,775.00	
15-Jun-48	$1,035,000.00	$28,462.50	$150,000.00	
15-Dec-48	$885,000.00	$24,337.50	$0.00	$202,800.00	
15-Jun-49	$885,000.00	$24,337.50	$160,000.00	
15-Dec-49	$725,000.00	$19,937.50	$0.00	$204,275.00	
15-Jun-50	$725,000.00	$19,937.50	$170,000.00	
15-Dec-50	$555,000.00	$15,262.50	$0.00	$205,200.00	
15-Jun-51	$555,000.00	$15,262.50	$175,000.00	
15-Dec-51	$380,000.00	$10,450.00	$0.00	$200,712.50	
15-Jun-52	$380,000.00	$10,450.00	$185,000.00	
15-Dec-52	$195,000.00	$5,362.50	$0.00	$200,812.50	

15-Jun-53	$5,362.50		$195,000.00	$0.00	
15-Dec-53					$200,362.50	
		$3,117,372.22			$3,025,000.00		$6,142,372.22	
Page 5