Bannon Lakes
Community Development District Approved Budget
FY2026

July 10, 2025
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	Approved Budget	
Description	FY2025	5/31/25		4 Months		9/30/25	FY 2026	

REVENUES:						
Special Assessments - On Roll	$775,371	$765,594	$9,558	$775,152	1,240,965	
Special Assessments - Direct	153,304	114,978	38,326	153,304	-	
Interest income	6,000	13,418	5,416	18,834	15,000	
Facility Revenue	300	200	525	725	300	
Miscellaneous Revenue	-	69	-	69	-	
Commercial	-	-	-	-	-	
Carry Forward Surplus	-	-	-	-	(45,897)	
TOTAL REVENUES	$934,975	$894,258	$53,825	$948,083	$1,210,368	

EXPENDITURES:						
Administrative						
Supervisor Fees	$6,000	$7,000	$4,000	$11,000	$12,000	
FICA Taxes	459	536	306	842	918	
Engineering	10,000	6,128	3,873	10,000	10,000	
Attorney	18,000	4,067	13,933	18,000	18,000	
Annual Audit	3,725	-	3,875	3,875	4,015	
Assessment Administration	7,950	7,950	-	7,950	8,348	
Arbitrage Rebate	1,800	1,200	600	1,800	1,800	
Dissemination Agent	9,551	6,367	3,183	9,551	10,029	
Trustee Fees	17,000	17,700	-	17,700	18,700	
Management Fees	55,213	36,809	18,405	55,213	57,974	
Information Technology	2,022	1,348	674	2,022	2,123	
Website Maintenance	1,348	899	450	1,348	1,415	
Telephone	150	170	100	270	200	
Postage & Delivery	750	535	477	1,011	750	
Meeting Room	4,000	4,456	475	4,931	7,200	
Insurance General Liability	8,197	7,439	-	7,439	8,971	
Printing & Binding	1,600	418	782	1,200	1,600	
Legal Advertising	1,000	1,067	368	1,435	1,000	
Other Current Charges	500	390	110	500	500	
Office Supplies	250	5	50	55	250	
Dues, Licenses & Subscriptions	175	175	-	175	175	
TOTAL ADMINISTRATIVE	$149,691	$104,658	$51,660	$156,318	$165,967	
Operations & Maintenance						
Amenity Center						
Insurance	$30,609	$28,388	$0	$28,388	$30,581	
Utilities
Phone/Internet/Cable	
8,735	
2,502	
1,250	
3,752	
4,300	
Electric	25,000	15,075	7,497	22,572	25,000	
Water/Irrigation	15,000	6,669	5,331	12,000	15,000	
Gas	200	-	-	-	200	
Refuse	4,266	2,231	1,224	3,455	4,266	
Security
Security Monitoring	
600	
4,104	
2,231	
6,335	
6,694	
Off-Duty Security -Roll Kall	-	1,617	5,000	6,617	12,000	
Access Cards	1,000	-	744	744	1,000	

Description

Adopted Budget FY2025

Actuals		Projected		Projected Thru			Next			Thru 5/31/25		 4 Months			9/30/25

Approved Budget FY 2026

Management Contracts
Facility Management	79,094	52,729	26,365	79,094	81,467
Facility Attendant	8,400	2,020	6,380	8,400	8,820
Field Mgmt / Admin	25,746	17,164	8,582	25,746	30,000
Pool Maintenance	14,157	9,438	4,719	14,157	14,865
Pool Chemicals	12,075	6,581	5,494	12,075	12,679
Janitorial	19,039	10,393	3,276	13,669	10,188
Janitorial Supplies	1,840	370	1,470	1,840	1,840
Facility Maintenance	35,620	22,591	11,872	34,463	40,000
Repairs & Maintenance	55,000	24,626	30,374	55,000	55,000
Special Events	15,000	5,724	9,276	15,000	15,000
Holiday Decorations	5,000	4,115	885	5,000	5,000
Fitness Center Repairs/Supplies	7,000	1,982	5,018	7,000	7,000 Surety Bond		-	2,925		-	2,925		-
Office Supplies	1,500	801	699	1,500	1,500
ASCAP/BMI Licenses	500	-	-	-	500
Pest Control	4,410	2,080	1,130	3,210	3,800

TOTAL AMENITY CENTER

$369,792	$225,027

$139,814	$364,840	$391,488

Nuisance Animal Control	-	902	996	1,898	4,788
Grounds Maintenance

Hydrology Quality/Mitigation	$28,000	$29,854	$0	29,854	$28,000
Landscape Maintenance	187,040	111,553	75,487	187,040	220,000
Landscape Contingency	35,000	6,115	28,886	35,000	45,000
Tree Removal	-	6,496	-	6,496	15,000
Lake Maintenance		9,840	13,551		3,280	16,831	10,234 Lake Maintenance Contingency (New Lakes)			-			-			-		-	20,000 Grounds Maintenance	19,600		7,701	11,899	19,600	19,600
Pump Repairs	10,000	-	2,500	2,500	10,000
Streetlights	12,012	11,111	3,980	15,091	13,000
Streetlight Repairs	5,000	3,800	2,500	6,300	5,000
Irrigation Repairs	15,000	21,717	(6,717)	15,000	15,000
Miscellaneous	5,000	-	5,000	5,000	5,000
Reclaim Water	40,000	45,000	15,453	60,453	40,000
Storm Cleanup	4,000	-	4,000	4,000	4,000
Contingency	-	-	24,658	24,658	-

TOTAL GROUNDS MAINTENANCE

$370,492	$256,898

$170,924	$427,822	$449,834

TOTAL EXPENDITURES

$889,975	$586,582

$362,398	$948,980	$1,007,289

Other Sources/(Uses)

Capital Reserve	($45,000)	($45,000)	$0	($45,000)	($203,079)

TOTAL OTHER SOURCES/(USES)

$(45,000)	$(45,000)

$-

$(45,000)	$(203,079)

EXCESS REVENUES (EXPENDITURES)

$0	$262,676	$(308,573)	$(45,897)

$-

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
$200 per meeting in which they attend.  The budgeted amount for the fiscal year is based on all supervisors attending 12 meetings.
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 Amenity	$237	$2,849	
AT&T	Amenity Business office	$75	$899	
	Contingency	$46	$552	
	Total	$358	$4,300	
Electric
The cost of electric associated with the Recreation Facility.
Vendor	Address	Monthly	Annual	
FPL	435 Bannon Lakes Blvd Amenity	$1,515	$18,180	
FPL	35 Bannon Lakes Blvd Entr	$36	$432	
FPL	435 Bannon Lakes Blvd Fitness	$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.
Off-Duty Security Monitoring
The District will use St Johns County Sheriff's Office off-duty deputies for security patrols of District property and uses RollKall for payment processing.
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	$6,789	$81,467
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	$2,500	$30,000
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	$1,239	$14,865	
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 High Tech Commercial Cleaning to provide janitorial services for the Amenity Center.
Vendor	Monthly	Annual	
High Tech Commerical Cleaning	$819	$9,828	
Contingency	$30	$360	
Total	$849	$10,188	
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.
Surety Bond
Amount paid to guarantee performance or payment in the event the borrower defaults.
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.
Nuisance Animal Control
The District is contracted with QuickCatch for hog trapping and removal services.
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	$14,255	$171,060	
Mulch	$0	$25,000	
Contingency	$1,995	$23,940	
Total	$16,250	$220,000	

Expenditures – Grounds Maintenance

Landscape Contingency
Other landscape costs that is not under contract which includes landscape light repairs and replacements.
Tree Removal
This item represents the estimated costs of removing any trees throughout the fiscal year.
Lake Maintenance
Cost for the maintenance of District lakes based on a contract.
Vendor	Monthly	Annual
Lake Doctors	$853	$10,234
Lake Maintenance Contingency (New Lakes)
Cost for the maintenance of lakes conveyed by HOA to the district.
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	$171	$2,056	
	Total	$1,083	$13,000	
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 Fitness	$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.

Approved Budget
Debt Service Series 2016 Special Assessment Revenue Bonds

Description

Adopted Budget
FY2025

Actuals Thru	Projected Next  Projected Thru

5/31/25

	4 Months	

9/30/25

Approved Budget
FY 2026

REVENUES:

Special Assessments-On Roll	$741,000	$731,050	$9,127	$740,176	$740,176	
Interest Earnings	30,000	26,276	11,200	37,476	30,000	
Carry Forward Surplus (1)	611,646	620,001	-	620,001	659,353	
TOTAL REVENUES	$1,382,646	$1,377,326	$20,327	$1,397,653	$1,429,529	

EXPENDITURES:

Interest - 11/1	$259,125	$259,125	$-	$259,125	$254,050	
Principal - 11/1	220,000	220,000	-	220,000	230,000	
Interest - 5/1	254,175	254,175	-	254,175	248,875	
Special Call - 5/1	-	5,000	-	5,000	-	
TOTAL EXPENDITURES	$733,300	$738,300	$-	$738,300	$732,925	

Other Sources/(Uses)

Interfund transfer In/(Out)

$-	$-	$-

$-	$-

TOTAL OTHER SOURCES/(USES)

$-

$-

$-

$-

$-

TOTAL EXPENDITURES

$733,300	$738,300

$-

$738,300	$732,925

EXCESS REVENUES (EXPENDITURES)	$649,346	$639,026	$20,327	$659,353	$696,604	

(1) Carry Forward is Net of Reserve Requirement	
Interest Due 11/1/26	
$248,875	
	Principal Due 11/1/26	240,000	
		$488,875	

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

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	
						
11/01/25	10,185,000		230,000	254,050	484,050	
05/01/26	9,955,000		-	248,875	-	
11/01/26	9,955,000		240,000	248,875	737,750	
05/01/27	9,715,000		-	242,875	-	
11/01/27	9,715,000		250,000	242,875	735,750	
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			$10,185,000	$7,277,800	$17,462,800	

Approved Budget
Debt Service Series 2021 Special Assessment Revenue Bonds

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Approved Budget	
	Description	FY2025	5/31/25		4 Months		9/30/25	FY 2026	

REVENUES:							

Special Assessments-On Roll	
$413,100	
$410,922	
$5,130	
$416,052	
$416,052	
Interest Earnings	15,000	12,929	4,680	17,609	15,000	
Carry Forward Surplus (1)	176,642	181,456	-	181,456	197,643	
TOTAL REVENUES	$604,742	$605,308	$9,810	$615,118	$628,695	

EXPENDITURES:						
Interest - 11/1	$126,238	$126,238	$-	$126,238	$124,138	
Principal - 5/1	160,000	160,000	-	160,000	165,000	
Interest - 5/1	126,238	126,238	-	126,238	124,138	
Special Call 5/1	-	5,000	-	5,000	-	
TOTAL EXPENDITURES	$412,475	$417,475	$-	$417,475	$413,275	

Other Sources/(Uses)

Interfund transfer In/(Out)

$-	$-	$-

$-	$-

TOTAL OTHER SOURCES/(USES)

$-

$-

$-

$-

$-

TOTAL EXPENDITURES

$412,475	$417,475

$-

$417,475	$413,275

EXCESS REVENUES (EXPENDITURES)

$192,267	$187,833

$9,810

$197,643	$215,420

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/26

$122,075

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

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	
						
11/01/25	6,785,000		-	124,138	124,138	
05/01/26	6,785,000		165,000	124,138		
11/01/26	6,620,000		-	122,075	411,213	
05/01/27	6,620,000		170,000	122,075		
11/01/27	6,450,000		-	119,525	411,600	
05/01/28	6,450,000		175,000	119,525		
11/01/28	6,275,000		-	116,900	411,425	
05/01/29	6,275,000		180,000	116,900		
11/01/29	6,095,000		-	114,200	411,100	
05/01/30	6,095,000		185,000	114,200		
11/01/30	5,910,000		-	111,425	410,625	
05/01/31	5,910,000		190,000	111,425		
11/01/31	5,720,000		-	108,575	410,000	
05/01/32	5,720,000		200,000	108,575		
11/01/32	5,520,000		-	105,075	413,650	
05/01/33	5,520,000		205,000	105,075		
11/01/33	5,315,000		-	101,488	411,563	
05/01/34	5,315,000		210,000	101,488		
11/01/34	5,105,000		-	97,813	409,300	
05/01/35	5,105,000		220,000	97,813		
11/01/35	4,885,000		-	93,963	411,775	
05/01/36	4,885,000		230,000	93,963		
11/01/36	4,655,000		-	89,938	413,900	
05/01/37	4,655,000		235,000	89,938		
11/01/37	4,420,000		-	85,825	410,763	
05/01/38	4,420,000		245,000	85,825		
11/01/38	4,175,000		-	81,538	412,363	
05/01/39	4,175,000		255,000	81,538		
11/01/39	3,920,000		-	77,075	413,613	
05/01/40	3,920,000		260,000	77,075		
11/01/40	3,660,000		-	72,525	409,600	
05/01/41	3,660,000		270,000	72,525		
11/01/41	3,390,000		-	67,800	410,325	
05/01/42	3,390,000		280,000	67,800		
11/01/42	3,110,000		-	62,200	410,000	
05/01/43	3,110,000		295,000	62,200		
11/01/43	2,815,000		-	56,300	413,500	
05/01/44	2,815,000		305,000	56,300		
11/01/44	2,510,000		-	50,200	411,500	
05/01/45	2,510,000		315,000	50,200		
11/01/45	2,195,000		-	43,900	409,100	
05/01/46	2,195,000		330,000	43,900		
11/01/46	1,865,000		-	37,300	411,200	
05/01/47	1,865,000		345,000	37,300		
11/01/47	1,520,000		-	30,400	412,700	
05/01/48	1,520,000		360,000	30,400		
11/01/48	1,160,000		-	23,200	413,600	
05/01/49	1,160,000		370,000	23,200		
11/01/49	790,000		-	15,800	409,000	
05/01/50	790,000		385,000	15,800		
11/01/50	405,000		-	8,100	408,900	
05/01/51	405,000		405,000	8,100	413,100	
Total			$6,785,000	$4,034,550	$10,819,550	

Approved Budget
Debt Service Series 2022 Special Assessment Revenue Bonds

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Approved Budget	
	Description	FY2025	5/31/25		4 Months		9/30/25	FY 2026	

REVENUES:							

Special Assessments-On Roll	
$234,457	
$228,078	
$1,543	
$229,621	
$520,023	
Special Assessments-Direct	287,343	215,507	71,836	287,343	-	
Interest Earnings	7,000	14,623	5,830	20,453	15,000	
Carry Forward Surplus (1)	209,699	209,236	-	209,236	223,703	
TOTAL REVENUES	$738,499	$667,445	$79,209	$746,653	$758,727	

EXPENDITURES:						
Interest - 11/1	$171,475	$171,475	$-	$171,475	$168,859	
Principal - 5/1	175,000	175,000	-	175,000	180,000	
Interest - 5/1	171,475	171,475	-	171,475	168,859	
Special Call 5/1	-	5,000	-	5,000	-	
TOTAL EXPENDITURES	$517,950	$522,950	$-	$522,950	$517,719	

Other Sources/(Uses)

Interfund transfer In/(Out)

$-	$-

-	-	$-

TOTAL OTHER SOURCES/(USES)

$-

$-

$-

$-

$-

TOTAL EXPENDITURES

$517,950	$522,950

$-

$522,950	$517,719

EXCESS REVENUES (EXPENDITURES)

$220,549	$144,495

$79,209

$223,703	$241,008

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/26

$166,271.88

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

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	
						
11/01/25	8,725,000		-	168,859	168,859	
05/01/26	8,725,000		180,000	168,859		
11/01/26	8,545,000		-	166,272	515,131	
05/01/27	8,545,000		185,000	166,272		
11/01/27	8,360,000		-	163,613	514,884	
05/01/28	8,360,000		190,000	163,613		
11/01/28	8,170,000		-	160,478	514,090	
05/01/29	8,170,000		200,000	160,478		
11/01/29	7,970,000		-	157,178	517,655	
05/01/30	7,970,000		205,000	157,178		
11/01/30	7,765,000		-	153,795	515,973	
05/01/31	7,765,000		210,000	153,795		
11/01/31	7,555,000		-	150,330	514,125	
05/01/32	7,555,000		220,000	150,330		
11/01/32	7,335,000		-	146,700	517,030	
05/01/33	7,335,000		230,000	146,700		
11/01/33	7,105,000		-	142,100	518,800	
05/01/34	7,105,000		235,000	142,100		
11/01/34	6,870,000		-	137,400	514,500	
05/01/35	6,870,000		245,000	137,400		
11/01/35	6,625,000		-	132,500	514,900	
05/01/36	6,625,000		255,000	132,500		
11/01/36	6,370,000		-	127,400	514,900	
05/01/37	6,370,000		265,000	127,400		
11/01/37	6,105,000		-	122,100	514,500	
05/01/38	6,105,000		280,000	122,100		
11/01/38	5,825,000		-	116,500	518,600	
05/01/39	5,825,000		290,000	116,500		
11/01/39	5,535,000		-	110,700	517,200	
05/01/40	5,535,000		300,000	110,700		
11/01/40	5,235,000		-	104,700	515,400	
05/01/41	5,235,000		315,000	104,700		
11/01/41	4,920,000		-	98,400	518,100	
05/01/42	4,920,000		325,000	98,400		
11/01/42	4,595,000		-	91,900	515,300	
05/01/43	4,595,000		340,000	91,900		
11/01/43	4,255,000		-	85,100	517,000	
05/01/44	4,255,000		355,000	85,100		
11/01/44	3,900,000		-	78,000	518,100	
05/01/45	3,900,000		370,000	78,000		
11/01/45	3,530,000		-	70,600	518,600	
05/01/46	3,530,000		380,000	70,600		
11/01/46	3,150,000		-	63,000	513,600	
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			$8,725,000	$5,892,848	$14,617,848	

Adopted
Budget	Actuals Thru	Projected Next Projected Thru

Approved Budget

Approved Budget Capital Reserve Fund

Description	FY2025	5/31/25		4 Months		9/30/25	FY 2026	
REVENUES:						
Capital Reserve Transfer In	$45,000	$45,000	$-	$45,000	$203,079	
Interest Income	2,500	1,757	1,144	2,901	2,500	
Carry Forward Balance	72,480	59,991	-	59,991	94,903	
TOTAL REVENUES	$119,980	$106,748	$1,144	$107,892	$300,482	

EXPENDITURES:						
Capital Outlay	$-	$8,483	$-	$8,483	$-	
Repair and Maintenance	40,000	-	-	-	10,000	
Roof Replacement	-	-	-	-	125,000	
Other Current Charges	420	4,246	260	4,506	840	
TOTAL EXPENDITURES	$40,420	$12,729	$260	$12,989	$135,840	

Other Sources/(Uses)

Transfer in/(Out)

$-	$-	$-

$-	$0

TOTAL OTHER SOURCES/(USES)

$-

$-

$-

$-

$-

EXCESS REVENUES (EXPENDITURES)

$79,560

$94,019

$884

$94,903	$164,642

Bannon Lakes
Community Development District
Non-Ad Valorem Assessments Comparison 2025-2026

Neighborhood	
O&M Units	Bonds Units 2016	Bonds Units 2021	Bonds Units 2022	
Annual Maintenance Assessments	
Annual Debt Assessments	
Total Assessed Per Unit	
	
FY 2026	
FY2025	Increase/ (decrease)	
FY 2026	
FY2025	Increase/ (decrease)	
FY 2026	
FY2025	Increase/ (decrease)	
				Series	Series			
				2016	2021	2022	2016	2021	2022	Total	Total Assessed Per Unit	

Single Family	
914	
383	
236	
295	
$1,338.92	
$1,001.98	
$336.94	
$1,799.83	
$1,875.46	
$1,875.31	
$1,799.83	
$1,875.46	
$1,875.31	
$0.00	
$6,889.52	
$6,552.58	
$336.94	
Duplex	72	72	0	0	$1,338.92	$1,001.98	$336.94	$1,799.83	$0.00	$0.00	$1,799.83	$0.00	$0.00	$0.00	$3,138.75	$2,801.81	$336.94	
Total	986	455	236	295