Bannon Lakes Community Development District
Adopted Budget
FY 2023
August 3, 2022

Bannon Lakes Community Development District

TABLE OF CONTENTS

GENERAL FUND BUDGET

Summary Revenues and Expenditures	Page 1-2

Narrative – Administrative and Maintenance	Page 3-9

2016 Debt Service Fund	Page 10-12

2021 Debt Service Fund	Page 13-15

2022 Debt Service Fund	Page 16-18

Capital Reserve Fund	Page 19

Adopted
Budget	Acutal
Thru	Projected
Next	Total
Projected	Adopted
Budget	
Description	FY 2022	6/30/22	3 Months	9/30/22	FY 2023	
Revenues						
Developer Contributions	$105,308	$0	$80,823	$80,823	$42,164	
Assessments - Tax Roll	$444,880	$444,964	$0	$444,964	$573,530	
Assessments - Direct	$59,873	$54,535	$5,338	$59,873	$59,873	
Interest	$150	$293	$300	$593	$150	
Facility Revenue	$300	$300	$100	$400	$300	
Total Revenues	$610,511	$500,092	$86,561	$586,653	$676,017	

Expenditures						
Administrative						
Supervisors Fees	$1,200	$800	$200	$1,000	$1,200	
FICA	$0	$61	$15	$77	$0	
Engineering	$4,000	$1,039	$2,961	$4,000	$4,000	
Attorney	$12,000	$5,765	$6,235	$12,000	$12,000	
Dissemination	$7,500	$5,825	$2,125	$7,950	$8,500	
Annual Audit	$5,500	$6,000	$0	$6,000	$7,500	
Arbitrage	$1,200	$1,200	$0	$1,200	$1,800	
Assessment Roll	$5,000	$5,000	$0	$5,000	$7,500	
Trustee fees	$8,000	$8,000	$0	$8,000	$12,000	
Management Fees	$46,800	$32,867	$11,700	$44,567	$49,140	
Information Technology	$1,800	$1,350	$450	$1,800	$1,800	
Telephone	$500	$123	$187	$310	$500	
Postage	$500	$276	$224	$500	$500	
Insurance	$6,641	$6,248	$0	$6,248	$7,497	
Meeting Room Rental	$2,000	$1,813	$313	$2,125	$2,200	
Printing & Binding	$1,600	$1,206	$394	$1,600	$1,600	
Legal Advertising	$2,000	$580	$920	$1,500	$2,000	
Other Current Charges	$500	$137	$163	$300	$600	
Office Supplies	$500	$117	$33	$150	$800	
Website Maitenance	$1,200	$900	$300	$1,200	$1,200	
Dues, Licenses & Subscriptions	$175	$175	$0	$175	$175	
Administrative Expenditures	$108,616	$79,482	$26,219	$105,701	$122,512	
Amenty Center						
Insurance Utilities	$17,009	$16,002	$0	$16,002	$19,202	
Phone/Internet/Cable	$5,400	$4,624	$2,056	$6,680	$7,300	
Electric	$25,000	$11,500	$4,371	$15,871	$25,000	
Water/Irrigation	$15,000	$7,178	$2,796	$9,974	$15,000	
Gas	$200	$0	$0	$0	$200	
Refuse	$4,600	$5,426	$1,898	$7,325	$7,440	
Security						
Security Monitoring	$600	$0	$0	$0	$600	
Access Cards	$2,500	$735	$840	$1,575	$2,500	
Management Contracts						
Facility Management	$61,800	$46,350	$15,450	$61,800	$64,890	

Adopted
Budget	Acutal
Thru	Projected
Next	Total
Projected	Adopted
Budget	
Description	FY 2022	6/30/22	3 Months	9/30/22	FY 2023	
Field Mgmt / Admin	$20,116	$15,087	$5,029	$20,116	$21,122	
Pool Maintenance	$12,000	$8,199	$2,733	$10,932	$12,600	
Pool Chemicals	$10,000	$4,315	$3,000	$7,315	$10,500	
Janitorial	$7,000	$7,030	$2,314	$9,344	$14,039	
Janitorial Supplies	$3,450	$1,348	$2,102	$3,450	$3,623	
Facility Maintenance	$7,500	$8,076	$4,000	$12,076	$20,000	
Repairs & Maintenance	$27,500	$21,200	$4,500	$25,700	$27,500	
Special Events	$5,000	$4,441	$1,445	$5,886	$10,000	
Holiday Decorations	$1,500	$706	$794	$1,500	$1,500	
Fitness Center Repairs/Supplies	$900	$4,700	$1,373	$6,073	$7,000	
Office Supplies	$1,500	$1,014	$486	$1,500	$1,500	
ASCAP/BMI Licenses	$500	$0	$0	$0	$500	
Pest Control	$3,100	$2,290	$780	$3,070	$3,120	
Amenity Center Expenditures	$232,175	$170,220	$55,967	$226,186	$275,135	
Grounds Maintenance Expenditures						
Hydrology Quality/Mitigation	$3,000	$0	$0	$0	$3,000	
Landscape Maintenance	$151,706	$113,779	$37,926	$151,706	$151,706	
Landscape Contingency	$20,000	$23,992	$670	$24,662	$26,000	
Lake Maintenance	$7,800	$6,095	$1,950	$8,045	$8,580	
Grounds Maintenance	$5,000	$3,608	$2,188	$5,796	$9,000	
Pump Repairs	$2,000	$5,011	$0	$5,011	$2,000	
Streetlights	$9,630	$6,793	$2,313	$9,106	$9,700	
Streetlight Repairs	$5,000	$0	$300	$300	$5,000	
Irrigation Repairs	$7,500	$10,146	$2,000	$12,146	$8,800	
Miscellaneous	$5,000	$0	$2,500	$2,500	$5,000	
Reclaim Water	$50,000	$26,411	$6,000	$32,411	$46,500	
Capital Reserve	$3,084	$0	$3,084	$3,084	$3,084	
Gounds Maintenance Expenditures	$269,720	$195,834	$58,931	$254,765	$278,370	
						
Total Expenses	$610,511	$445,536	$141,117	$586,653	$676,017	
						
Excess Revenues/(Expenditures)	$0	$54,555	($54,555)	$0	$0	

Net Assessments	$573,530	
Add: Discounts and Collections (6%)		$36,591 	
Gross Assessments		$610,121	
Assessable Units	691	
Per Unit Assessment	$882.95	

REVENUES:

Developer Contributions/ Assessments

The District will enter into a Funding Agreement with the Developer or levy maintenance assessments to Fund the General Fund expenditures the Fiscal Year.

Interest

The District will have all excess funds invested with State Board of Administration. The amount is based upon the estimated average balance of funds available during the fiscal year.

Facility Revenue

Income received from residents for rental of clubroom, patio, access cards or special events deposits.

EXPENDITURES:

Administrative:

Supervisors Fees

The Florida Statutes allows each Board member to receive $200 per meeting not to exceed $4,000 in one year. The amount for the fiscal year is based upon four supervisors paid for the estimated eight annual meetings with the other supervisors waiving pay.

FICA Expense

Represents the Employer’s share of Social Security and Medicare taxes withheld from the Board of Supervisors checks.

Engineering

The District will contract with an engineering firm to provide general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review invoices, etc.

Attorney

The District will contract with Kutak Rock LLP for legal counsel to provide general legal services to the District, e.g. attendance and preparation for monthly meetings, preparation and review of agreements, resolutions, 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.

Vendor	Monthly	Annual	
Governmental Management Services	$	708	$	8,500	

Annual Audit

The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm. The District will contract Grau and Associates, a licensed CPA firm to prepare the annual audit.

Arbitrage

The District is required to annually have an arbitrage rebate calculation on the District's Series 2016, Debt Series 2021 and Debt Series 2022 Special Assessment Revenue Bonds.

Assessment Roll

The District’s assessment roll administration, GMS, LLC, will provide services to prepare assessment rolls to district property owners.

Trustee Fees

The District issued Series 2016, Series 2021, and Series 2022 Special Assessment Revenue Bonds which are held with a Trustee at BNY Mellon. The amount of the trustee fees is based on the agreement between BNY Mellon and the District.

Management Fees

The District will contract with Governmental Management Services, LLC for Management, Accounting and Administrative services as part of a Management Agreement with management company.

Vendor	Monthly	Annual	
Governmental Management Services	$	4,095	$	49,140	

Information Technology

Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, security, accounting software, etc.

Vendor	Monthly	Annual	
Governmental Management Services	$	150	$	1,800	

Telephone

The cost of telephone and fax machine service.

Postage

The cost of mailing agenda packages, overnight deliveries, correspondence, and payments for the District.

Insurance

Represents the estimated cost for public officials and general liability insurance for the District provided by FIA.

Meeting Room Rental

The District will seek out venue to hold board meeting.

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 Board meetings, public hearings, and etc. in a newspaper of general circulation.

Other Current Charges

Bank charges, amortization schedule fees, and any other miscellaneous expenses incurred during the year.

Office Supplies

Miscellaneous office supplies.

Website Maintenance

Represents the costs associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc.

Vendor	Monthly	Annual	
Governmental Management Services	$	100	$	1,200	

Dues, Licenses & Subscriptions

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

Amenity Center:

Insurance

The District's Property insurance policy is with Florida Insurance Alliance. FIA specializes in providing insurance coverage to governmental agencies. The amount budgeted represents the estimated premium for property insurance related to the Amenity Center.

Phone/Internet/Cable

The District will provide internet & cable television services for the Amenity Center through AT&T.

Vendor	Address	Monthly	Annual	
AT&T	435 Bannon Lakes Blvd Amenity	$	214	$	2,573	
AT&T	435 Bannon Lakes Blvd Fintness Ctr	$	218	$	2,616	
AT&T	Amenity Business Office	$	166	$	1,990	
	Contingency	$	10	$	121	
		$	608	$	7,300	

Electric
The cost of electric associated with the Recreation Facility.

Vendor	Address	Monthly	Annual	
FPL	435 Bannon Lakes Blvd - Clubhouse	$	995	$	11,940	
FPL	35 Bannon Lakes Blvd #Ent	$	26	$	415	
FPL	435 Bannon Lakes Blvd # Fitness	$	200	$	2,400	
	Contingency	$	854	$	10,245	
		$	2,083	$	25,000	

Water/Irrigation

Water, sewer and irrigation systems cost for the district.

Vendor	Address	Monthly	Annual	
SJCUD	435 Bannon Lakes Blvd	$	592	$	7,100	
	Contingency	$	658	$	7,900	
		$	1,250	$	15,000	

Gas

The District will contract with vendor to provide propane delivery for amenity center use.

Refuse Service

Cost of garbage disposal service will be provided by Republic Services #687 for the District.

Security Monitoring

The District will contract with vendor to provide security monitoring for the Amenity Center.

Access Cards

Represents the estimated cost for access cards purchased by the District’s Amenity Center.

Facility Management

Cost to provide management services for the Amenity Center.

Vendor	Monthly	Annual	
Riverside Management Services	$	5,408	$	64,890	

Field Management and Admin

The District will contract Riverside Management Services, Inc. for onsite field management of contracts for District Services such as landscaping, amenity & pool facilities, lake maintenance, etc.

Vendor	Monthly	Annual	
Riverside Management Services	$	1,760	$	21,122	

Pool Maintenance

The estimated amount based on proposed contract with Riverside Management Services, Inc. to provide maintenance of the Amenity Center swimming pool.

Vendor	Monthly	Annual	
Riverside Management Services	$	961	$	11,526	
Contingency	$	90	$	1,074	
	$	1,050	$	12,600	

Pool Chemicals

The estimated amount based on proposed contract with Riverside Management Services and Poolsure to provide chemicals to maintain the Amenity Center swimming pool.

Janitorial

The estimated amount based on proposed contract with Riverside Management Services, Inc.to provide janitorial services for the Amenity Center.

Vendor	Monthly	Annual	
Riverside Management Services	$	1,170	$	14,039	

Janitorial Supplies

All supplies needed for janitorial services of the Amenity Center.

Facility Maintenance

The estimated amount based on proposed contract with vendor to provide routine repairs and maintenance for the Amenity Center.

Repair & Maintenance

Regular maintenance and replacement cost incurred by the Amenity Center of the District.

Special Events

Represents estimated costs for the District to host special events for the community throughout the Fiscal Year.

Holiday Decorations

Represents estimated costs for the District to decorate the amenity center throughout the Fiscal Year.

Fitness Center Repairs/Supplies

Represents estimated costs for the Fitness Center repairs of equipment, purchase of supplies, and preventative maintenance contract.

Office Supplies and Equipment

Represents estimated cost for office supplies for the Amenity Center.

ASCAP/BMI Licenses

License fee required to broadcast music to the amenity center.

Pest Control

The District is contracted with Freedom Pest Control for pest control services

Grounds Maintenance:

Hydrology Quality/Mitigation

Cost to preserve beneficial aquatic plants in the wetland mitigation area and control nuisance and exotic pest plant populations.

Landscape Maintenance

Cost to maintain the common areas of the District based on a proposed contract with Landcare Group, Inc.
Vendor	Monthly	Annual	
Landcare Group	$	12,642	$	151,706	

Landscape Contingency

Other landscape costs that is not under contract which includes landscape light repairs and replacements.

Lake Maintenance

Cost for the maintenance of District lakes based on a contract.

Vendor	Monthly	Annual	
The Lake Doctors, Inc.	$	650	$	8,580	

Grounds Maintenance

Contracted staff for repairs and trash pick-up on District owned property.

Pump Repairs

Provision for pool pump repair or replacements as needed.

Streetlights

FPL provides the District street lighting cost for the community. The amount is based upon the agreement plus estimated cost for fuel charges.

Vendor	Address	Monthly	Annual	
FPL	100 International Golf Parkway	$	730	$	8,760	
	Contingency	$	78	$	940	
		$	808	$	9,700	

Streetlight Repairs

Estimated costs for street lighting and parking lot repairs and replacements.

Irrigation Repairs

Miscellaneous irrigation repairs and maintenance cost for the District.

Miscellaneous

Any unanticipated and unscheduled maintenance cost to the District.

Reclaimed water

Reclaimed water Services for the District provided by St. Johns County Utility Department.

Vendor	Address	Monthly	Annual	
SJCUD	35 Bannon Lakes Blvd	$	1,148	$	13,780	
	435 Bannon Lakes Blvd	$	775	$	9,300	
	Contingency	$	1,952	$	23,420	
		$	3,875	$	46,500	

Capital Reserve

The District will establish a reserve to fund the renewal and replacement of District’s capital related facilities.

Bannon Lakes	Debt Service Fund
Community Development  District	Series 2016

	Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Adopted
Budget	
Description	FY 2022	6/30/22	3 Months	9/30/22	FY 2023	

Revenues						
Interest Income	$150	$281	$696	$977	$500	
Special Assessments	$749,660	$742,029	$7,631	$749,660	$741,250	
Prepayments	$0	$22,804	$0	$22,804	$0	
Carry Forward Surplus*	$491,642	$522,375	$0	$522,375	$507,616	
TOTAL REVENUES	$1,241,452	$1,287,489	$8,327	$1,295,816	$1,249,366	

Expenditures

Series 2016
Interest - 11/01	$274,100	$274,100	$0	$274,100	$268,475	
Principal - 11/01	$195,000	$195,000	$0	$195,000	$200,000	
Special Call - 11/01	$0	$25,000	$0	$25,000	$0	
Interest - 05/01	$269,713	$269,100	$0	$269,100	$263,975	
Special Call - 05/01	$0	$25,000	$0	$25,000	$0	
TOTAL EXPENDITURES	$738,813	$788,200	$0	$788,200	$732,450	
						
EXCESS REVENUES	$502,639	$499,289	$8,327	$507,616	$516,916	

*Reflects excess revenue at fiscal year end less reserve fund balance.	
11/1/23 Interest	
$	263,975	
	11/1/23 Principal	$210,000	

 $	473,975 

Net Assessments	$741,250	
Add: Discounts and Collections (6%)	$47,292	
Gross Assessments	$788,542	
Assessable Units	452	
Per Unit Assessment	$1,744.56	

Date	Balance	Principal	Interest	Annual

11/1/22	$ 10,825,000	$	200,000	$	268,475.00	$	468,475.00	
5/1/23	$ 10,625,000	$	-	$	263,975.00	$	-	
11/1/23	$ 10,625,000	$	210,000	$	263,975.00	$	737,950.00	
5/1/24	$ 10,415,000	$	-	$	259,250.00	$	-	
11/1/24	$ 10,415,000	$	220,000	$	259,250.00	$	738,500.00	
5/1/25	$ 10,195,000	$	-	$	254,300.00	$	-	
11/1/25	$ 10,195,000	$	230,000	$	254,300.00	$	738,600.00	
5/1/26	$  9,965,000	$	-	$	249,125.00	$	-	
11/1/26	$  9,965,000	$	240,000	$	249,125.00	$	738,250.00	
5/1/27	$  9,725,000	$	-	$	243,125.00	$	-	
11/1/27	$  9,725,000	$	255,000	$	243,125.00	$	741,250.00	
5/1/28	$  9,470,000	$	-	$	236,750.00	$	-	
11/1/28	$  9,470,000	$	265,000	$	236,750.00	$	738,500.00	
5/1/29	$  9,205,000	$	-	$	230,125.00	$	-	
11/1/29	$  9,205,000	$	280,000	$	230,125.00	$	740,250.00	
5/1/30	$  8,925,000	$	-	$	223,125.00	$	-	
11/1/30	$  8,925,000	$	295,000	$	223,125.00	$	741,250.00	
5/1/31	$  8,630,000	$	-	$	215,750.00	$	-	
11/1/31	$  8,630,000	$	305,000	$	215,750.00	$	736,500.00	
5/1/32	$  8,325,000	$	-	$	208,125.00	$	-	
11/1/32	$  8,325,000	$	320,000	$	208,125.00	$	736,250.00	
5/1/33	$  8,005,000	$	-	$	200,125.00	$	-	
11/1/33	$  8,005,000	$	340,000	$	200,125.00	$	740,250.00	
5/1/34	$  7,665,000	$	-	$	191,625.00	$	-	
11/1/34	$  7,665,000	$	355,000	$	191,625.00	$	738,250.00	
5/1/35	$  7,310,000	$	-	$	182,750.00	$	-	
11/1/35	$  7,310,000	$	375,000	$	182,750.00	$	740,500.00	
5/1/36	$  6,935,000	$	-	$	173,375.00	$	-	
11/1/36	$  6,935,000	$	390,000	$	173,375.00	$	736,750.00	
5/1/37	$  6,545,000	$	-	$	163,625.00	$	-	
11/1/37	$  6,545,000	$	410,000	$	163,625.00	$	737,250.00	
5/1/38	$  6,135,000	$	-	$	153,375.00	$	-	

		

		

11/1/38

$  6,135,000

$	430,000	$

153,375.00	$

736,750.00

Date	Balance	Principal		Interest	Annual	

5/1/39	
$  5,705,000	
$	-	
$	
142,625.00	
$	-	
11/1/39	$  5,705,000	$	455,000	$	142,625.00	$	740,250.00	
5/1/40	$  5,250,000	$	-	$	131,250.00	$	-	
11/1/40	$  5,250,000	$	475,000	$	131,250.00	$	737,500.00	
5/1/41	$  4,775,000	$	-	$	119,375.00	$	-	
11/1/41	$  4,775,000	$	500,000	$	119,375.00	$	738,750.00	
5/1/42	$  4,275,000	$	-	$	106,875.00	$	-	
11/1/42	$  4,275,000	$	525,000	$	106,875.00	$	738,750.00	
5/1/43	$  3,750,000	$	-	$	93,750.00	$	-	
11/1/43	$  3,750,000	$	550,000	$	93,750.00	$	737,500.00	
5/1/44	$  3,200,000	$	-	$	80,000.00	$	-	
11/1/44	$  3,200,000	$	580,000	$	80,000.00	$	740,000.00	
5/1/45	$  2,620,000	$	-	$	65,500.00	$	-	
11/1/45	$  2,620,000	$	605,000	$	65,500.00	$	736,000.00	
5/1/46	$  2,015,000	$	-	$	50,375.00	$	-	
11/1/46	$  2,015,000	$	640,000	$	50,375.00	$	740,750.00	
5/1/47	$  1,375,000	$	-	$	34,375.00	$	-	
11/1/47	$  1,375,000	$	670,000	$	34,375.00	$	738,750.00	
5/1/48	$	705,000	$	-	$	17,625.00	$	-	
11/1/48	$	705,000	$	705,000	$	17,625.00	$	740,250.00	
Totals	$ 10,825,000	$	8,849,025	$	19,674,025	

Bannon Lakes	Debt Service Fund
Community Development  District	Series 2021

	Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Adopted
Budget	
Description	FY 2022	6/30/22	3 Months	9/30/22	FY 2023	

Revenues						

Interest Income	$100	
$93	
$660	
$754	
$100	
Special Assessments	$414,300	$414,327	$0	$414,327	$413,100	
Carry Forward Surplus*	$132,180	$132,098	$0	$132,098	$132,180	
TOTAL REVENUES	$546,580	$546,519	$660	$547,179	$545,380	

Expenditures

Series 2021
Interest - 11/01	$132,088	$132,088	$0	$132,088	$130,213	
Interest - 05/01	$132,088	$132,088	$0	$132,088	$130,213	
Principal - 5/01	$150,000	$150,000	$0	$150,000	$155,000	
TOTAL EXPENDITURES	$414,175	$414,175	$0	$414,175	$415,425	
						
EXCESS REVENUES	$132,405	$132,344	$660	$133,004	$129,955	

*Reflects excess revenue at fiscal year end less reserve fund balance.	11/1/23 Interest	$128,275

Net Assessments	$413,100	
Add: Discounts and Collections (6%)	$26,356	
Gross Assessments	$439,456	
Assessable Units	235	
Per Unit Assessment	$1,870.02	

Date	Balance	Principal	Interest	Annual

11/1/22	$	7,265,000	$	-	$	130,213	$	130,213	
5/1/23	$  7,265,000	$	155,000	$	130,213	$	285,213	
11/1/23	$  7,110,000	$	-	$	128,275	$	128,275	
5/1/24	$  7,110,000	$	155,000	$	128,275	$	283,275	
11/1/24	$  6,955,000	$	-	$	126,338	$	126,338	
5/1/25	$  6,955,000	$	160,000	$	126,338	$	286,338	
11/1/25	$  6,795,000	$	-	$	124,338	$	124,338	
5/1/26	$  6,795,000	$	165,000	$	124,338	$	289,338	
11/1/26	$  6,630,000	$	-	$	122,275	$	122,275	
5/1/27	$  6,630,000	$	170,000	$	122,275	$	292,275	
11/1/27	$  6,460,000	$	-	$	119,725	$	119,725	
5/1/28	$  6,460,000	$	175,000	$	119,725	$	294,725	
11/1/28	$  6,285,000	$	-	$	117,100	$	117,100	
5/1/29	$  6,285,000	$	180,000	$	117,100	$	297,100	
11/1/29	$  6,105,000	$	-	$	114,400	$	114,400	
5/1/30	$  6,105,000	$	185,000	$	114,400	$	299,400	
11/1/30	$  5,920,000	$	-	$	111,625	$	111,625	
5/1/31	$  5,920,000	$	190,000	$	111,625	$	301,625	
11/1/31	$  5,730,000	$	-	$	108,775	$	108,775	
5/1/32	$  5,730,000	$	200,000	$	108,775	$	308,775	
11/1/32	$  5,530,000	$	-	$	105,275	$	105,275	
5/1/33	$  5,530,000	$	205,000	$	105,275	$	310,275	
11/1/33	$  5,325,000	$	-	$	101,688	$	101,688	
5/1/34	$  5,325,000	$	210,000	$	101,688	$	311,688	
11/1/34	$  5,115,000	$	-	$	98,013	$	98,013	
5/1/35	$  5,115,000	$	220,000	$	98,013	$	318,013	
11/1/35	$  4,895,000	$	-	$	94,163	$	94,163	
5/1/36	$  4,895,000	$	230,000	$	94,163	$	324,163	
11/1/36	$  4,665,000	$	-	$	90,138	$	90,138	
5/1/37	$  4,665,000	$	235,000	$	90,138	$	325,138	
11/1/37	$  4,430,000	$	-	$	86,025	$	86,025	
5/1/38	$  4,430,000	$	245,000	$	86,025	$	331,025	
11/1/38	$  4,185,000	$	-	$	81,738	$	81,738	

Date	Balance	Principal	Interest	Annual

5/1/39	$  4,185,000	$	255,000	$	81,738	$	336,738	
11/1/39	$  3,930,000	$	-	$	77,275	$	77,275	
5/1/40	$  3,930,000	$	260,000	$	77,275	$	337,275	
11/1/40	$  3,670,000	$	-	$	72,725	$	72,725	
5/1/41	$  3,670,000	$	270,000	$	72,725	$	342,725	
11/1/41	$  3,400,000	$	-	$	68,000	$	68,000	
5/1/42	$  3,400,000	$	280,000	$	68,000	$	348,000	
11/1/42	$  3,120,000	$	-	$	62,400	$	62,400	
5/1/43	$  3,120,000	$	295,000	$	62,400	$	357,400	
11/1/43	$  2,825,000	$	-	$	56,500	$	56,500	
5/1/44	$  2,825,000	$	305,000	$	56,500	$	361,500	
11/1/44	$  2,520,000	$	-	$	50,400	$	50,400	
5/1/45	$  2,520,000	$	315,000	$	50,400	$	365,400	
11/1/45	$  2,205,000	$	-	$	44,100	$	44,100	
5/1/46	$  2,205,000	$	330,000	$	44,100	$	374,100	
11/1/46	$  1,875,000	$	-	$	37,500	$	37,500	
5/1/47	$  1,875,000	$	345,000	$	37,500	$	382,500	
11/1/47	$  1,530,000	$	-	$	30,600	$	30,600	
5/1/48	$  1,530,000	$	360,000	$	30,600	$	390,600	
11/1/48	$  1,170,000	$	-	$	23,400	$	23,400	
5/1/49	$  1,170,000	$	375,000	$	23,400	$	398,400	
11/1/49	$	795,000	$	-	$	15,900	$	15,900	
5/1/50	$	795,000	$	390,000	$	15,900	$	405,900	
11/1/50	$	405,000	$	-	$	8,100	$	8,100	
5/1/51	$	405,000	$	405,000	$	8,100	$	413,100	
11/1/51	$	-	$	-	$	-	$	-	
Totals			$	7,265,000	$	4,814,000	$	12,079,000	

Bannon Lakes	Debt Service Fund
Community Development District	Series 2022

	Proposed
Budget	Actual
Thru	Projected
Next	Total
Projected	Adopted
Budget	
Description	FY 2022	6/30/22	3 Months	9/30/22	FY 2023	

Revenues						
Interest Income	$0	$0	$0	$0	$0	
Special Assessments	$0	$0	$0	$0	$0	
Prepayments	$0	$0	$0	$0	$0	
Carry Forward Surplus*	$0	$0	$0	$0	$525,252	
TOTAL REVENUES	$0	$0	$0	$0	$525,252	

Expenditures

Series 2021
Interest - 11/01	$0	$0	$0	$0	$175,084	
Interest - 05/01	$51,552	$51,552	$51,552	$103,105	$175,084	
Principal - 5/01	$0	$0	$0	$0	$0	
TOTAL EXPENDITURES	$51,552	$51,552	$51,552	$103,105	$350,168	

Other Sources/(Uses)

Bonds Proceeds	

$837,704	

$837,704	

$0	

$837,704	

$0	
TOTAL OTHER SOURCES/USES	$837,704	$837,704	$0	$837,704	$0	
						
EXCESS REVENUES	$786,152	$786,151	($51,552)	$734,599	$175,084	

*Reflects excess revenue at fiscal year end less reserve fund balance.	11/1/23 Interest	$175,084

Net Assessments	$519,788	
Add: Discounts and Collections (6%)	$35,304	
Gross Assessments	$555,092	
Assessable Units	296	
Per Unit Assessment	$1,875.31	

		

		

Date	Balance	Principal	Interest	Annual

11/1/22	$  9,135,000	$	-	$	175,084	$	175,084	
5/1/23	$  9,135,000	$	-	$	175,084		
11/1/23	$  9,135,000	$	-	$	175,084	$	350,168	
5/1/24	$  9,135,000	$	170,000	$	175,084		
11/1/24	$  8,965,000	$	-	$	172,640	$	517,724	
5/1/25	$  8,965,000	$	175,000	$	172,640		
11/1/25	$  8,790,000	$	-	$	170,124	$	517,764	
5/1/26	$  8,790,000	$	180,000	$	170,124		
11/1/26	$  8,610,000	$	-	$	167,537	$	517,661	
5/1/27	$  8,610,000	$	185,000	$	167,537		
11/1/27	$  8,425,000	$	-	$	164,878	$	517,414	
5/1/28	$  8,425,000	$	195,000	$	164,878		
11/1/28	$  8,230,000	$	-	$	161,660	$	521,538	
5/1/29	$  8,230,000	$	200,000	$	161,660		
11/1/29	$  8,030,000	$	-	$	158,360	$	520,020	
5/1/30	$  8,030,000	$	205,000	$	158,360		
11/1/30	$  7,825,000	$	-	$	154,978	$	518,338	
5/1/31	$  7,825,000	$	215,000	$	154,978		
11/1/31	$  7,610,000	$	-	$	151,430	$	521,408	
5/1/32	$  7,610,000	$	220,000	$	151,430		
11/1/32	$  7,390,000	$	-	$	147,800	$	519,230	
5/1/33	$  7,390,000	$	230,000	$	147,800		
11/1/33	$  7,160,000	$	-	$	143,200	$	521,000	
5/1/34	$  7,160,000	$	240,000	$	143,200		
11/1/34	$  6,920,000	$	-	$	138,400	$	521,600	
5/1/35	$  6,920,000	$	250,000	$	138,400		
11/1/35	$  6,670,000	$	-	$	133,400	$	521,800	
5/1/36	$  6,670,000	$	260,000	$	133,400		
11/1/36	$  6,410,000	$	-	$	128,200	$	521,600	
5/1/37	$  6,410,000	$	270,000	$	128,200		
11/1/37	$  6,140,000	$	-	$	122,800	$	521,000	
5/1/38	$  6,140,000	$	280,000	$	122,800	
11/1/38	$  5,860,000	$	-	$	117,200	$	520,000	
5/1/39	$  5,860,000	$	290,000	$	117,200	
11/1/39	$  5,570,000	$	-	$	111,400	$	518,600	

Date	Balance	Principal	Interest	Annual	

5/1/40	
$  5,570,000	
$	305,000	
$	111,400		
11/1/40	$  5,265,000	$	-	$	105,300	$	521,700	
5/1/41	$  5,265,000	$	315,000	$	105,300		
11/1/41	$  4,950,000	$	-	$	99,000	$	519,300	
5/1/42	$  4,950,000	$	330,000	$	99,000		
11/1/42	$  4,620,000	$	-	$	92,400	$	521,400	
5/1/43	$  4,620,000	$	340,000	$	92,400		
11/1/43	$  4,280,000	$	-	$	85,600	$	518,000	
5/1/44	$  4,280,000	$	355,000	$	85,600		
11/1/44	$  3,925,000	$	-	$	78,500	$	519,100	
5/1/45	$  3,925,000	$	370,000	$	78,500		
11/1/45	$  3,555,000	$	-	$	71,100	$	519,600	
5/1/46	$  3,555,000	$	385,000	$	71,100		
11/1/46	$  3,170,000	$	-	$	63,400	$	519,500	
5/1/47	$  3,170,000	$	400,000	$	63,400		
11/1/47	$  2,770,000	$	-	$	55,400	$	518,800	
5/1/48	$  2,770,000	$	415,000	$	55,400		
11/1/48	$  2,355,000	$	-	$	47,100	$	517,500	
5/1/49	$  2,355,000	$	435,000	$	47,100		
11/1/49	$  1,920,000	$	-	$	38,400	$	520,500	
5/1/50	$  1,920,000	$	450,000	$	38,400		
11/1/50	$  1,470,000	$	-	$	29,400	$	517,800	
5/1/51	$  1,470,000	$	470,000	$	29,400		
11/1/51	$  1,000,000	$	-	$	20,000	$	519,400	
5/1/52	$  1,000,000	$	490,000	$	20,000		
11/1/52	$	510,000	$	-	$	10,200	$	520,200	
5/1/53	$	510,000	$	510,000	$	10,200		
				$	520,200	
Totals		$ 9,135,000	$	6,979,948	$	16,114,948	

Bannon Lakes	Capital Reserve Fund Community Development District

	Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Adopted
Budget	
Description	FY 2022	6/30/22	3 Months	9/30/22	FY 2023	

Revenues						

Capital Reserve Transfer In	$3,084	
$0	
$0	
$0	
$3,084	
POA Contribution	$0	$175,000	$0	$175,000	$0	
Carry Forward Surplus*	$31,713	$0	$0	$0	$142,268	
TOTAL REVENUES	$34,797	$175,000	$0	$175,000	$145,352	

Expenditures						
Capital Outlay	$15,000	$0	$0	$0	$10,000	
Repair and Maintenance	$0	$32,438	$0	$32,438	$10,000	
Other Current Charges	$420	$219	$75	$294	$420	
TOTAL EXPENDITURES	$15,420	$32,657	$75	$32,732	$20,420	
						
EXCESS REVENUES	$19,377	$142,343	($75)	$142,268	$124,932