Bannon Lakes
Community Development District Adopted Budget
FY2025

August 7, 2024
Presented by:

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Table of Contents

1-2

3-6

7-8

9-10

11-12

13

	General Fund

	Narratives

	Debt Service Fund Series 2016

	Debt Service Fund Series 2021

	Debt Service Fund Series 2022

	Capital Reserve Fund

14		Assessment Schedule

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

REVENUES:						
Special Assessments - On Roll	$650,966	$654,860	$139	$654,999	$775,371	
Special Assessments - Direct	144,602	144,602	-	144,602	153,304	
Interest income	800	6,940	3,900	10,840	6,000	
Facility Revenue	300	250	50	300	300	
Miscellaneous Revenue	-	12	-	12	-	
TOTAL REVENUES	$796,667	$806,665	$4,089	$810,753	$934,975	

EXPENDITURES:						
Administrative						
Supervisor Fees	$1,200	$1,000	$400	$1,400	$6,000	
FICA Taxes	-	77	31	107	459	
Engineering	4,000	1,091	2,500	3,591	10,000	
Attorney	12,000	5,220	6,780	12,000	18,000	
Annual Audit	3,725	-	3,725	3,725	3,725	
Assessment Administration	7,950	7,950	-	7,950	7,950	
Arbitrage Rebate	1,800	1,200	600	1,800	1,800	
Dissemination Agent	9,010	6,757	2,253	9,010	9,551	
Trustee Fees	13,545	16,562	-	16,562	17,000	
Management Fees	52,088	39,066	13,022	52,088	55,213	
Information Technology	1,908	1,431	477	1,908	2,022	
Website Maintenance	1,272	954	318	1,272	1,348	
Telephone	500	80	30	110	150	
Postage & Delivery	500	447	30	477	750	
Meeting Room	2,200	1,688	563	2,250	4,000	
Insurance General Liability	7,388	6,952	-	6,952	8,197	
Printing & Binding	1,600	869	731	1,600	1,600	
Legal Advertising	2,000	198	500	698	1,000	
Other Current Charges	600	250	250	500	500	
Office Supplies	400	3	30	33	250	
Dues, Licenses & Subscriptions	175	175	-	175	175	
TOTAL ADMINISTRATIVE	$123,861	$91,970	$32,239	$124,209	$149,691	
Operations & Maintenance						
Amenity Center						
Insurance	$26,505	$27,475	$0	$27,475	$30,609	
Utilities
Phone/Internet/Cable	
8,735	
5,832	
2,040	
7,872	
8,735	
Electric	25,000	15,534	5,475	21,009	25,000	
Water/Irrigation	15,000	7,143	5,322	12,465	15,000	
Gas	200	-	-	-	200	
Refuse	6,000	1,922	726	2,648	4,266	
Security
Security Monitoring	
600	
-	
600	
600	
600	
Access Cards	2,500	744	744	1,488	1,000	

Description

Adopted Budget FY2024

Actuals		Projected		Projected Thru			Next			Thru 6/30/24		 3 Months			9/30/24

Adopted Budget FY 2025

Management Contracts
Facility Management	
74,617	
55,963	
18,654	
74,617	
79,094	
Facility Attendant	6,400	4,507	1,893	6,400	8,400	
Field Mgmt / Admin	24,289	18,217	6,072	24,289	25,746	
Pool Maintenance	13,356	10,035	3,339	13,374	14,157	
Pool Chemicals	12,075	4,705	7,370	12,075	12,075	
Janitorial	14,039	9,806	3,355	13,161	19,039	
Janitorial Supplies	3,840	892	375	1,267	1,840	
Facility Maintenance	33,604	25,550	8,400	33,950	35,620	
Repairs & Maintenance	45,000	26,400	6,000	32,400	55,000	
Special Events	10,000	8,130	1,870	10,000	15,000	
Holiday Decorations	5,000	5,000	-	5,000	5,000	
Fitness Center Repairs/Supplies	7,000	2,687	2,703	5,390	7,000	
Office Supplies	1,500	2,568	150	2,718	1,500	
ASCAP/BMI Licenses	500	-	-	-	500	
Pest Control	4,950	2,340	1,390	3,730	4,410	
TOTAL AMENITY CENTER	$340,710	$235,450	$76,479	$311,929	$369,792	

Grounds Maintenance						
Hydrology Quality/Mitigation	$3,000	$1,600	$0	$1,600	$28,000	
Landscape Maintenance	182,320	117,990	39,330	157,320	187,040	
Landscape Contingency	26,000	19,621	6,380	26,000	35,000	
Lake Maintenance	8,580	6,816	2,364	9,180	9,840	
Grounds Maintenance	19,600	13,260	6,340	19,600	19,600	
Pump Repairs	2,000	250	500	750	10,000	
Streetlights	12,012	8,192	2,745	10,937	12,012	
Streetlight Repairs	5,000	310	690	1,000	5,000	
Irrigation Repairs	15,000	5,946	5,694	11,640	15,000	
Miscellaneous	5,000	-	1,000	1,000	5,000	
Reclaim Water	46,500	21,070	11,200	32,270	40,000	
Storm Cleanup	4,000	-	4,000	4,000	4,000	
TOTAL GROUNDS MAINTENANCE	$329,012	$195,055	$80,243	$275,297	$370,492	
						
TOTAL EXPENDITURES	$793,583	$522,475	$188,961	$711,436	$889,975	

Other Sources/(Uses)						
Capital Reserve	($3,084)	$0	($3,084)	($3,084)	($45,000)	
TOTAL OTHER SOURCES/(USES)	$(3,084)	$-	$(3,084)	$(3,084)	$(45,000)	
						
EXCESS REVENUES (EXPENDITURES)	$0	$284,190	$(187,956)	$96,234	$-	

REVENUES

Special 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. There may also be direct bills paid by developers to cover the rest.
Interest
The District earns interest on the monthly average collected balance for each of their investment accounts.
Facility Revenue
Income received from residents for rental of clubroom, patio, access cards or special events deposits.
Miscellaneous
Miscellaneous income received on behalf of the District.

Expenditures - Administrative

Supervisors Fees
Chapter 190 of the Florida Statutes allows for members of the Board of Supervisors to be compensated
FICA Taxes
Payroll taxes on Board of Supervisor’s compensation. The budgeted amount for the fiscal year is calculated at 7.65% of the total Board of Supervisor’s payroll expenditures.
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
Governmental Management Services LLC provides assessment services for closing lot sales, assessment roll services with the local Tax Collector and financial advisory services.
Arbitrage Rebate
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.
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 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 receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services, 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, 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 Governmental Mangement Services, LLC and updated monthly.
Telephone
Phone, internet and fax service for Office.

Expenditures - Administrative (continued)

Postage and Delivery
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.
Meeting Room
The estimated cost for the District to seek out venue to hold board meeting.
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 budgeted represents the estimated premium for general liability insurance for the District.
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 – 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	$272	$3,264	
AT&T	35 Bannon Lakes Blvd Entr	$218	$2,616	
AT&T	435  Bannon  Lakes  Blvd	$189	$2,268	
	Contingency	$49	$587	
	Total	$728	$8,735	
Electric
The cost of electric associated with the Recreation Facility.
Vendor	Address	Monthly	Annual	
FPL	435  Bannon  Lakes  Blvd	$1,515	$18,180	
FPL	35 Bannon Lakes Blvd Entr	$36	$432	
FPL	435  Bannon  Lakes  Blvd	$250	$3,000	
	Contingency	$282	$3,388	
	Total	$2,083	$25,000	
Water/Irrigation
Water, sewer and irrigation systems cost for the district.
Vendor	Address	Monthly	Annual	
SJCUD	435 Bannon Lakes Blvd	$988	$11,856	
	Contingency	$262	$3,144	
	Total	$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.

Expenditures – Amenity Center (continued)

Facility Management
Cost to provide management services for the Amenity Center.
Vendor	Monthly	Annual
Riverside Mgmt Services	$6,591	$79,094
Facility Attendance
Cost to provide help for Facility Manager during summer weekend hours contracted with Riverside Management Services.
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 Mgmt Services	$2,146	$25,746
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 Mgmt Services	$1,180	$14,157	
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	
Jani-King of Jacksonville	$1,535	$18,416	
Contingency	$52	$623	
Total	$1,587	$19,039	
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
Hydrology Quality/Mitigation
Cost to preserve beneficial aquatic plants in the wetland mitigation area and control nuisance and exotic pest plant
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	$13,503	$162,040	
Mulch	$0	$25,000	
Total	$13,503	$187,040	

Expenditures – Grounds Maintenance

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
Lake Doctors	$820	$9,840
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 agreemnt plus estimated cost for fuel charges.
Vendor	Address	Monthly	Annual	
FPL	100 International Golf Prkwy	$912	$10,944	
	Contingency	$89	$1,068	
	Total	$1,001	$12,012	
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 Entr	$1,800	$21,600	
	435 Bannon Lakes Blvd	$970	$11,640	

Storm Cleanup

Contingency		$563	$6,760 
Total	$3,333	$40,000

Estimated cost for any cleanup due to inclement weather.
Capital Reserve
The District will establish a reserve to fund the renewal and replacement of District’s capital related facilities transferred to Capital Reserve Fund.

Adopted Budget
Debt Service Series 2016 Special Assessment Revenue Bonds

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

REVENUES:							

Special Assessments-On Roll	
$741,000	
$744,764	
$158	
$744,922	
$741,000	
Interest Earnings	7,000	30,567	11,760	42,327	30,000	
Carry Forward Surplus (1)	549,310	557,372	-	557,372	611,646	
TOTAL REVENUES	$1,297,310	$1,332,703	$11,918	$1,344,621	$1,382,646	

EXPENDITURES:						
Interest - 11/1	$263,850	$263,850	$-	$263,850	$259,125	
Principal - 11/1	210,000	210,000	-	210,000	220,000	
Interest - 5/1	259,125	259,125	-	259,125	254,175	
TOTAL EXPENDITURES	$732,975	$732,975	$-	$732,975	$733,300	

Other Sources/(Uses)	

Interfund transfer In/(Out)	
$-	
$-	
$-	
$-	
$-	
TOTAL OTHER SOURCES/(USES)	$-	$-	$-	$-	$-	
						
TOTAL EXPENDITURES	$732,975	$732,975	$-	$732,975	$733,300	
						
EXCESS REVENUES (EXPENDITURES)	$564,335	$599,728	$11,918	$611,646	$649,346	

(1) Carry Forward is Net of Reserve Requirement	
Interest Due 11/1/25	
$254,175	
	Principal Due 11/1/25	230,000	
		$484,175	

Debt Service Series 2016 Special Assessment Revenue Bonds
Term Bonds Due Combined

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

11/01/24	10,410,000	220,000	259,125	479,125	
05/01/25	10,190,000	-	254,175	-	
11/01/25	10,190,000	230,000	254,175	738,350	
05/01/26	9,960,000	-	249,000	-	
11/01/26	9,960,000	240,000	249,000	738,000	
05/01/27	9,720,000	-	243,000	-	
11/01/27	9,720,000	255,000	243,000	741,000	
05/01/28	9,465,000	-	236,625	-	
11/01/28	9,465,000	265,000	236,625	738,250	
05/01/29	9,200,000	-	230,000	-	
11/01/29	9,200,000	280,000	230,000	740,000	
05/01/30	8,920,000	-	223,000	-	
11/01/30	8,920,000	290,000	223,000	736,000	
05/01/31	8,630,000	-	215,750	-	
11/01/31	8,630,000	305,000	215,750	736,500	
05/01/32	8,325,000	-	208,125	-	
11/01/32	8,325,000	320,000	208,125	736,250	
05/01/33	8,005,000	-	200,125	-	
11/01/33	8,005,000	340,000	200,125	740,250	
05/01/34	7,665,000	-	191,625	-	
11/01/34	7,665,000	355,000	191,625	738,250	
05/01/35	7,310,000	-	182,750	-	
11/01/35	7,310,000	375,000	182,750	740,500	
05/01/36	6,935,000	-	173,375	-	
11/01/36	6,935,000	390,000	173,375	736,750	
05/01/37	6,545,000	-	163,625	-	
11/01/37	6,545,000	410,000	163,625	737,250	
05/01/38	6,135,000	-	153,375	-	
11/01/38	6,135,000	430,000	153,375	736,750	
05/01/39	5,705,000	-	142,625	-	
11/01/39	5,705,000	455,000	142,625	740,250	
05/01/40	5,250,000	-	131,250	-	
11/01/40	5,250,000	475,000	131,250	737,500	
05/01/41	4,775,000	-	119,375	-	
11/01/41	4,775,000	500,000	119,375	738,750	
05/01/42	4,275,000	-	106,875	-	
11/01/42	4,275,000	525,000	106,875	738,750	
05/01/43	3,750,000	-	93,750	-	
11/01/43	3,750,000	550,000	93,750	737,500	
05/01/44	3,200,000	-	80,000	-	
11/01/44	3,200,000	580,000	80,000	740,000	
05/01/45	2,620,000	-	65,500	-	
11/01/45	2,620,000	605,000	65,500	736,000	
05/01/46	2,015,000	-	50,375	-	
11/01/46	2,015,000	640,000	50,375	740,750	
05/01/47	1,375,000	-	34,375	-	
11/01/47	1,375,000	670,000	34,375	738,750	
05/01/48	705,000	-	17,625	-	
11/01/48	705,000	705,000	17,625	740,250	
Total		$10,410,000	$7,791,725	$18,201,725	

Adopted Budget
Debt Service Series 2021 Special Assessment Revenue Bonds

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

REVENUES:							

Special Assessments-On Roll	
$413,100	
$418,631	
$89	
$418,720	
$413,100	
Interest Earnings	4,000	14,498	4,521	19,019	15,000	
Carry Forward Surplus (1)	132,180	155,353	-	155,353	176,642	
TOTAL REVENUES	$549,280	$588,482	$4,610	$593,092	$604,742	

EXPENDITURES:						
Interest - 11/1	$128,275	$128,275	$-	$128,275	$126,238	
Special Call 11/1	-	5,000	-	5,000	-	
Principal - 5/1	155,000	155,000	-	155,000	160,000	
Interest - 5/1	128,275	128,175	-	128,175	126,238	
TOTAL EXPENDITURES	$411,550	$416,450	$-	$416,450	$412,475	

Other Sources/(Uses)	

Interfund transfer In/(Out)	
$-	
$-	
$-	
$-	
$-	
TOTAL OTHER SOURCES/(USES)	$-	$-	$-	$-	$-	
						
TOTAL EXPENDITURES	$411,550	$416,450	$-	$416,450	$412,475	
						
EXCESS REVENUES (EXPENDITURES)	$137,730	$172,032	$4,610	$176,642	$192,267	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/25

$124,238

Debt Service Series 2021 Special Assessment Revenue Bonds
Term Bonds Due Combined

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

11/01/24	6,950,000	-	126,238	126,238	
05/01/25	6,950,000	160,000	126,238		
11/01/25	6,790,000	-	124,238	410,475	
05/01/26	6,790,000	165,000	124,238		
11/01/26	6,625,000	-	122,175	411,413	
05/01/27	6,625,000	170,000	122,175		
11/01/27	6,455,000	-	119,625	411,800	
05/01/28	6,455,000	175,000	119,625		
11/01/28	6,280,000	-	117,000	411,625	
05/01/29	6,280,000	180,000	117,000		
11/01/29	6,100,000	-	114,300	411,300	
05/01/30	6,100,000	185,000	114,300		
11/01/30	5,915,000	-	111,525	410,825	
05/01/31	5,915,000	190,000	111,525		
11/01/31	5,725,000	-	108,675	410,200	
05/01/32	5,725,000	200,000	108,675		
11/01/32	5,525,000	-	105,175	413,850	
05/01/33	5,525,000	205,000	105,175		
11/01/33	5,320,000	-	101,588	411,763	
05/01/34	5,320,000	210,000	101,588		
11/01/34	5,110,000	-	97,913	409,500	
05/01/35	5,110,000	220,000	97,913		
11/01/35	4,890,000	-	94,063	411,975	
05/01/36	4,890,000	230,000	94,063		
11/01/36	4,660,000	-	90,038	414,100	
05/01/37	4,660,000	235,000	90,038		
11/01/37	4,425,000	-	85,925	410,963	
05/01/38	4,425,000	245,000	85,925		
11/01/38	4,180,000	-	81,638	412,563	
05/01/39	4,180,000	255,000	81,638		
11/01/39	3,925,000	-	77,175	413,813	
05/01/40	3,925,000	260,000	77,175		
11/01/40	3,665,000	-	72,625	409,800	
05/01/41	3,665,000	270,000	72,625		
11/01/41	3,395,000	-	67,900	410,525	
05/01/42	3,395,000	280,000	67,900		
11/01/42	3,115,000	-	62,300	410,200	
05/01/43	3,115,000	295,000	62,300		
11/01/43	2,820,000	-	56,400	413,700	
05/01/44	2,820,000	305,000	56,400		
11/01/44	2,515,000	-	50,300	411,700	
05/01/45	2,515,000	315,000	50,300		
11/01/45	2,200,000	-	44,000	409,300	
05/01/46	2,200,000	330,000	44,000		
11/01/46	1,870,000	-	37,400	411,400	
05/01/47	1,870,000	345,000	37,400		
11/01/47	1,525,000	-	30,500	412,900	
05/01/48	1,525,000	360,000	30,500		
11/01/48	1,165,000	-	23,300	413,800	
05/01/49	1,165,000	370,000	23,300		
11/01/49	795,000	-	15,900	409,200	
05/01/50	795,000	390,000	15,900		
11/01/50	405,000	-	8,100	414,000	
05/01/51	405,000	405,000	8,100	413,100	
Total		$6,950,000	$4,292,025	$11,242,025	

Adopted Budget
Debt Service Series 2022 Special Assessment Revenue Bonds

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

REVENUES:							

Special Assessments-On Roll	
$521,800	
$368,193	
$151,845	
$520,038	
$521,800	
Special Assessments-Prepayments	-	28,811	-	28,811	-	
Interest Earnings	5,000	14,532	3,924	18,456	7,000	
Carry Forward Surplus (1)	191,773	222,562	-	222,562	209,699	
TOTAL REVENUES	$718,573	$634,098	$155,769	$789,867	$738,499	

EXPENDITURES:						
Interest - 11/1	$175,084	$175,084	$-	$175,084	$171,475	
Principal - 5/1	170,000	170,000	-	170,000	175,000	
Interest - 5/1	175,084	175,084	-	175,084	171,475	
Special Call 5/1	-	60,000	-	60,000	-	
TOTAL EXPENDITURES	$520,168	$580,168	$-	$580,168	$517,950	

Other Sources/(Uses)	

Interfund transfer In/(Out)	
$-	
$-	
-	
-	
$-	
TOTAL OTHER SOURCES/(USES)	$-	$-	$-	$-	$-	

TOTAL EXPENDITURES

$520,168	$580,168

$-

$580,168	$517,950

EXCESS REVENUES (EXPENDITURES)

$198,406

$53,930	$155,769

$209,699	$220,549

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/25

$168,959.38

Debt Service Series 2022 Special Assessment Revenue Bonds
Term Bonds Due Combined

Period

Outstanding Balance

Coupons

Principal

Interest

Annual Debt Service

11/01/24	8,905,000	-	171,475	171,475	
05/01/25	8,905,000	175,000	171,475		
11/01/25	8,730,000	-	168,959	515,434	
05/01/26	8,730,000	180,000	168,959		
11/01/26	8,550,000	-	166,372	515,331	
05/01/27	8,550,000	185,000	166,372		
11/01/27	8,365,000	-	163,713	515,084	
05/01/28	8,365,000	190,000	163,713		
11/01/28	8,175,000	-	160,578	514,290	
05/01/29	8,175,000	200,000	160,578		
11/01/29	7,975,000	-	157,278	517,855	
05/01/30	7,975,000	205,000	157,278		
11/01/30	7,770,000	-	153,895	516,173	
05/01/31	7,770,000	210,000	153,895		
11/01/31	7,560,000	-	150,430	514,325	
05/01/32	7,560,000	220,000	150,430		
11/01/32	7,340,000	-	146,800	517,230	
05/01/33	7,340,000	230,000	146,800		
11/01/33	7,110,000	-	142,200	519,000	
05/01/34	7,110,000	235,000	142,200		
11/01/34	6,875,000	-	137,500	514,700	
05/01/35	6,875,000	245,000	137,500		
11/01/35	6,630,000	-	132,600	515,100	
05/01/36	6,630,000	255,000	132,600		
11/01/36	6,375,000	-	127,500	515,100	
05/01/37	6,375,000	265,000	127,500		
11/01/37	6,110,000	-	122,200	514,700	
05/01/38	6,110,000	280,000	122,200		
11/01/38	5,830,000	-	116,600	518,800	
05/01/39	5,830,000	290,000	116,600		
11/01/39	5,540,000	-	110,800	517,400	
05/01/40	5,540,000	300,000	110,800		
11/01/40	5,240,000	-	104,800	515,600	
05/01/41	5,240,000	315,000	104,800		
11/01/41	4,925,000	-	98,500	518,300	
05/01/42	4,925,000	325,000	98,500		
11/01/42	4,600,000	-	92,000	515,500	
05/01/43	4,600,000	340,000	92,000		
11/01/43	4,260,000	-	85,200	517,200	
05/01/44	4,260,000	355,000	85,200		
11/01/44	3,905,000	-	78,100	518,300	
05/01/45	3,905,000	370,000	78,100		
11/01/45	3,535,000	-	70,700	518,800	
05/01/46	3,535,000	385,000	70,700		
11/01/46	3,150,000	-	63,000	518,700	
05/01/47	3,150,000	400,000	63,000		
11/01/47	2,750,000	-	55,000	518,000	
05/01/48	2,750,000	415,000	55,000		
11/01/48	2,335,000	-	46,700	516,700	
05/01/49	2,335,000	430,000	46,700		
11/01/49	1,905,000	-	38,100	514,800	
05/01/50	1,905,000	450,000	38,100		
11/01/50	1,455,000	-	29,100	517,200	
05/01/51	1,455,000	465,000	29,100		
11/01/51	990,000	-	19,800	513,900	
05/01/52	990,000	485,000	19,800		
11/01/52	505,000	-	10,100	514,900	
05/01/53	505,000	505,000	10,100	515,100	
Total		$8,905,000	$6,239,998	$15,144,998	

Adopted Budget Capital Reserve Fund

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

REVENUES:						
Interest Income	1,100	2,075	600	2,675	2,500	
Carry Forward Balance	92,095	81,934	-	81,934	72,480	
TOTAL REVENUES	$93,195	$84,010	$600	$84,610	$74,980	

EXPENDITURES:						
Repair and Maintenance	$40,000	$15,109	$-	$15,109	$40,000	
Other Current Charges	420	79	25	104	420	
TOTAL EXPENDITURES	$40,420	$15,188	$25	$15,213	$40,420	

Other Sources/(Uses)						
Transfer in/(Out)	$3,084	$-	$3,084	$3,084	$45,000	
TOTAL OTHER SOURCES/(USES)	$3,084	$-	$3,084	$3,084	$45,000	
						
EXCESS REVENUES (EXPENDITURES)	$55,859	$68,821	$3,659	$72,480	$79,560	

Bannon Lakes
Community Development District
Non-Ad Valorem Assessments Comparison 2024-2025

Neighborhood	
O&M Units	Bonds Units 2016	Bonds Units 2021	Bonds Units 2022	
Annual Maintenance Assessments	
Annual Debt Assessments	
Total Assessed Per Unit	
	
FY 2025	
FY2024	Increase/ (decrease)	
FY 2025	
FY2024	Increase/ (decrease)	
FY 2025	
FY 2024	Increase/ (decrease)	
				Series	Series			
				2016	2021	2022	2016	2021	2022	Total		

Single Family	
986	
383	
236	
296	
$1,001.98	
$1,001.98	
$0.00	
$1,799.83	
$1,875.46	
$1,875.31	
$1,799.83	
$1,875.46	
$1,875.31	
$0.00	
$6,552.58	
$6,552.58	
$0.00	
Duplex	0	72	0	0	$0.00	$0.00	$0.00	$1,799.83	$0.00	$0.00	$1,799.83	$0.00	$0.00	$0.00	$1,799.83	$1,799.83	$0.00	
Total	986	455	236	296