Summerville Community Development District

Final Budget For Fiscal Year 2025/2026
October 1, 2025 - September 30, 2026

CONTENTS

I

FINAL BUDGET

II

DETAILED FINAL BUDGET

III

DETAILED FINAL DEBT SERVICE FUND BUDGET

IV

ASSESSMENT COMPARISON

FINAL BUDGET
SUMMERVILLE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

I

REVENUES

FISCAL YEAR 2025/2026 BUDGET

ADMINISTRATIVE ASSESSMENTS

82,289

MAINTENANCE ASSESSMENTS

102,998

DEBT ASSESSMENTS

197,090

OTHER REVENUES

0

INTEREST INCOME

1,200

TOTAL REVENUES

$	383,577

EXPENDITURES

MAINTENANCE EXPENDITURES

FIELD OPERATIONS MANAGEMENT

720

ENGINEERING/ANNUAL REPORT/INSPECTIONS

2,400

PRESSURE CLEANING

9,498

SIDEWALKS (MILLING & REPLACEMENT)

7,000

HOA CONTRIBUTION (STREET LIGHTS)

16,200

HOA CONTRIBUTION (LANDSCAPING)

58,000

MAINTENANCE CONTINGENCY

3,000

TOTAL MAINTENANCE EXPENDITURES

$	96,818

ADMINISTRATIVE EXPENDITURES

SUPERVISOR FEES

5,000

PAYROLL TAXES (EMPLOYER)

383

MANAGEMENT

30,744

SECRETARIAL

4,200

LEGAL

10,000

ASSESSMENT ROLL

7,500

AUDIT FEES

3,600

INSURANCE

7,300

LEGAL ADVERTISING

2,200

MISCELLANEOUS

1,100

POSTAGE

275

OFFICE SUPPLIES

425

DUES & SUBSCRIPTIONS

175

TRUSTEE FEES

3,500

CONTINUING DISCLOSURE FEE

350

WEBSITE MANAGEMENT

2,000

ADMINISTRATIVE CONTINGENCY

600

TOTAL ADMINISTRATIVE EXPENDITURES

$	79,352

TOTAL EXPENDITURES

$	176,170

REVENUES LESS EXPENDITURES

$	207,407

BOND PAYMENTS

(185,265)

BALANCE

$	22,142

COUNTY APPRAISER & TAX COLLECTOR FEE

(7,647)

DISCOUNTS FOR EARLY PAYMENTS

(15,295)

EXCESS/ (SHORTFALL)

$	(800)

CARRYOVER FROM PRIOR YEAR

800

NET EXCESS/ (SHORTFALL)

$	-

DETAILED FINAL BUDGET
SUMMERVILLE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

II

REVENUES

FISCAL YEAR 2023/2024 ACTUAL

FISCAL YEAR 2024/2025 BUDGET

FISCAL YEAR 2025/2026 BUDGET

COMMENTS

ADMINISTRATIVE ASSESSMENTS

79,704

82,306

82,289

Expenditures Less Interest & Carryover/.94

MAINTENANCE ASSESSMENTS

80,880

102,998

102,998

Expenditures/.94

DEBT ASSESSMENTS

195,059

197,090

197,090

Bond Payments/.94

OTHER REVENUES

0

0

0

INTEREST INCOME

9,015

420

1,200

Projected At $100 Per Month

TOTAL REVENUES

$	364,658

$	382,814

$	383,577

EXPENDITURES

MAINTENANCE EXPENDITURES

FIELD OPERATIONS MANAGEMENT

720

720

720

No Change From 2024/2025 Budget

ENGINEERING/ANNUAL REPORT/INSPECTIONS

1,234

2,400

2,400

No Change From 2024/2025 Budget

PRESSURE CLEANING

10,336

9,498

9,498

No Change From 2024/2025 Budget

SIDEWALKS (MILLING & REPLACEMENT)

0

7,000

7,000

No Change From 2024/2025 Budget

HOA CONTRIBUTION (STREET LIGHTS)

16,200

16,200

16,200

No Change From 2024/2025 Budget

HOA CONTRIBUTION (LANDSCAPING)

17,167

58,000

58,000

For Landscaping, Palm Fert, Mulch, Tree Trimming, etc.

MAINTENANCE CONTINGENCY

1,205

3,000

3,000

Maintenance Contingency

TOTAL MAINTENANCE EXPENDITURES

$	46,862

$	96,818

$	96,818

ADMINISTRATIVE EXPENDITURES

SUPERVISOR FEES

1,800

5,000

5,000

Supervisor Fees

PAYROLL TAXES (EMPLOYER)

207

383

383

Supervisor Fees * 7.65%

MANAGEMENT

29,016

29,880

30,744

CPI Adjustment

SECRETARIAL

4,200

4,200

4,200

No Change From 2024/2025 Budget

LEGAL

7,750

10,000

10,000

No Change From 2024/2025 Budget

ASSESSMENT ROLL

7,500

7,500

7,500

As Per Contract

AUDIT FEES

3,400

3,500

3,600

Accepted Amount For 2024/2025 Audit

INSURANCE

6,594

7,200

7,300

Fiscal Year 2024/2025 Expenditure Was $6,858

LEGAL ADVERTISING

1,951

2,000

2,200

Costs Have Increased Due To Closing Of The Miami Business Review

MISCELLANEOUS

1,331

800

1,100

$300 Increase From 2024/2025 Budget

POSTAGE

313

275

275

No Change From 2024/2025 Budget

OFFICE SUPPLIES

265

425

425

$25 Decrease From 2024/2025 Budget

DUES & SUBSCRIPTIONS

175

175

175

No Change From 2024/2025 Budget

TRUSTEE FEES

3,500

3,500

3,500

No Change From 2024/2025 Budget

CONTINUING DISCLOSURE FEE

350

350

350

No Change From 2024/2025 Budget

WEBSITE MANAGEMENT

2,000

2,000

2,000

No Change From 2024/2025 Budget

ADMINISTRATIVE CONTINGENCY

0

600

600

No Change From 2024/2025 Budget

TOTAL ADMINISTRATIVE EXPENDITURES

$	70,352

$	77,788

$	79,352

TOTAL EXPENDITURES

$	117,214

$	174,606

$	176,170

REVENUES LESS EXPENDITURES

$	247,444

$	208,208

$	207,407

BOND PAYMENTS

(185,598)

(185,265)

(185,265)

2026 P&I Payments Less Interest

BALANCE

$	61,846

$	22,943

$	22,142

COUNTY APPRAISER & TAX COLLECTOR FEE

(3,414)

(7,647)

(7,647)

Two Percent Of Total Assessment Roll

DISCOUNTS FOR EARLY PAYMENTS

(13,806)

(15,296)

(15,295)

Four Percent Of Total Assessment Roll

EXCESS/ (SHORTFALL)

$	44,626

$	-

$	(800)

CARRYOVER FROM PRIOR YEAR

0

0

800

Carryover From Prior Year

NET EXCESS/ (SHORTFALL)

$	44,626

$	-

$	-

DETAILED FINAL DEBT SERVICE FUND BUDGET SUMMERVILLE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

Series 2020 Bond Refunding Information

Original Par Amount = Interest Rate =
Issue Date =
Maturity Date =

$2,193,000 3.0% - 4.00%
December 2020
May 2036

Annual Principal Payments Due =
Annual Interest Payments Due =

May 1st
May 1st & November 1st

Par Amount As Of 1/1/25 =

$1,733,000

III

REVENUES

FISCAL YEAR 2023/2024 ACTUAL

FISCAL YEAR 2024/2025 BUDGET

FISCAL YEAR 2025/2026 BUDGET

COMMENTS

Interest Income

6,168

500

1,000

Projected Interest For 2025/2026

NAV Tax Collection

185,598

185,265

185,265

Maximum Debt Service Collection

Total Revenues

$	191,766

$	185,765

$	186,265

EXPENDITURES

Principal Payments

118,000

121,000

127,000

Principal Payment Due In 2026

Interest Payments

67,525

62,170

58,133

Interest Payments Due In 2026

Bond Redemption

0

2,595

1,132

Estimated Excess Debt Collections

Total Expenditures

$	185,525

$	185,765

$	186,265

Excess/ (Shortfall)

$	6,241

$	-

$	-

Summerville Community Development District Assessment Comparison

Fiscal Year 2022/2023
Assessment
 Before Discount* 

Fiscal Year 2023/2024
Assessment
 Before Discount* 

Fiscal Year 2024/2025
Assessment
	Before Discount*	

Fiscal Year 2025/2026
Projected Assessment
	Before Discount*	

Administrative
Maintenance Debt
Total

$
$

295.84
310.06

$
$

299.21
306.08

$
$

308.27
385.76

$
$

308.21
385.76

$	738.17

$	738.17

$	738.17

$	738.17

$

1,344.07

$

1,343.46

$

1,432.20

$

1,432.14

* Assessments Include the Following :	 4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee

 Community Information:	

Total Units

267

IV