Wilford Preserve

Community Development District

Adopted Budget
FY2026

Presented by:

Table of Contents

1-2

3-5

6-7

8

	General Fund

	Narratives

	Debt Service Fund Series 2019A

	Assessment Schedule

9		Capital Reserve Fund

	Adopted
Budget	Actuals Thru	Projected Next	Projected Thru	Adopted
Budget	
Description	FY 2025	7/31/25	  2 Months		9/30/25	FY 2026	

REVENUES:						
Special Assessments - Tax Roll	$	505,573	$	678,528	$	-	$	678,528	$	673,895	
Direct Bill Phase 4	168,146	-	-	-	-	
Developer Funded Cheswick South	263,580	-	-	-	263,580	
Interest Income	6,000	12,555	1,000	13,555	6,000	
Miscellaneous Income	668	1,066	200	1,266	1,000	
TOTAL REVENUES	$  943,967	$  692,150	$	1,200	$  693,350	$  944,475	

EXPENDITURES:						
Administrative						
Supervisor Fees	$	4,800	$	3,000	$	1,800	$	4,800	$	4,800	
FICA Taxes	367	230	138	367	367	
Engineering	6,000	7,030	1,500	8,530	6,000	
Attorney	15,000	5,234	9,766	15,000	15,000	
Annual Audit	4,800	5,000	-	5,000	5,200	
Assessment Roll Administration	5,618	5,618	-	5,618	5,899	
Arbitrage Rebate	1,200	600	-	600	600	
Dissemination Agent	7,865	6,554	1,311	7,865	8,258	
Trustee Fees	7,000	6,592	-	6,592	7,000	
Management Fees	55,213	46,011	9,202	55,213	57,974	
Information Technology	1,060	883	177	1,060	1,113	
Website Maintenance	1,272	1,060	212	1,272	1,336	
Telephone	300	102	198	300	300	
Postage	500	256	244	500	500	
Insurance General Liability	7,500	7,296	-	7,296	8,208	
Printing	1,200	154	1,046	1,200	1,200	
Legal Advertising	3,000	1,254	1,746	3,000	3,000	
Other Current Charges	600	2	598	600	600	
Office Supplies	100	13	87	100	100	
Dues, Licenses & Subscriptions	175	175	-	175	175	
TOTAL ADMINISTRATIVE	$  123,571	$	97,064	$	28,025	$  125,089	$  127,630	

Operations & Maintenance						
Amenity Center						
Insurance	$	11,546	$	10,500	$	-	$	10,500	$	11,850	
General Facility Maintenance	35,000	6,799	28,201	35,000	35,000	
Amenity Manager	67,250	39,375	27,875	67,250	71,285	
Janitorial Services	15,000	12,776	2,224	15,000	15,900	
Pool Maintenance	30,000	25,000	5,000	30,000	31,800	
Pool Chemicals	20,000	7,542	12,458	20,000	20,000	
Pool Monitors	25,000	3,608	21,392	25,000	25,000	
Security Monitoring	1,235	-	1,235	1,235	1,235	
Security	93,325	37,368	7,956	45,324	93,325	
Permit Fees	900	300	600	900	900	
Telephone/Cable/Internet	1,000	-	1,000	1,000	1,000	
Electric	25,000	5,621	19,379	25,000	25,200	
Water/Sewer/Irrigation	55,000	22,265	2,735	25,000	55,000	
Repairs & Replacements	25,000	11,776	8,224	20,000	25,000	
Refuse Service	5,040	2,831	669	3,500	5,040	
Special Events	6,000	1,730	2,000	3,730	6,000	
Recreational Passes	1,500	260	1,240	1,500	2,500	
Office Supplies/Mailings/Printing	600	-	600	600	600	
TOTAL AMENITY CENTER	$  418,396	$  187,751	$  142,787	$  330,539	$  426,635	

	Adopted
Budget	Actuals Thru	Projected Next	Projected Thru	Adopted
Budget	
Description	FY 2025	7/31/25	  2 Months		9/30/25	FY 2026	

Ground Maintenance						
Landscape Maintenance	$	260,000	$	86,400	$	17,280	$	103,680	$	260,000	
Landscape Contingency	6,000	2,100	3,900	6,000	6,000	
Irrigation Maintenance	5,000	-	5,000	5,000	5,000	
Lake Maintenance	26,000	8,700	4,350	13,050	26,000	
TOTAL GROUND MAINTENANCE	$  297,000	$	97,200	$	30,530	$  127,730	$  297,000	

Reserves						
Capital Reserve Fund	$	105,000	$	-	$	105,000	$	105,000	$	93,210	
TOTAL RESERVES	$  105,000	$	-	$  105,000	$  105,000	$	93,210	
						
TOTAL EXPENDITURES	$  943,967	$  382,015	$  306,342	$  688,358	$  944,475	

Other Sources/(Uses)						
Interlocal Transfer In/(Out)	$	-	$	2,077	$	-	$	2,077	$	-	
TOTAL OTHER SOURCES/(USES)	$	-	$	2,077	$	-	$	2,077	$	-	
						
EXCESS REVENUES (EXPENDITURES)	$	(0)	$  312,211	$  (305,142)	$	7,069	$	-	

REVENUES

Special Assessments
The District will levy a non ad-valorem special assessment on all taxable property within the District to fund a portion of the General Operating Expenditures for the fiscal year. These are collected on the Clay County Tax Roll for platted lands. Unplatted lands are direct billed to the landowner.
Interest Income
The District will have funds invested in a money market fund with U.S. Bank that earns interest based upon the estimated balance invested throughout the year. Also included are insurance reimbursement costs.
Miscellaneous Income
Miscellaneous Income from proceeds from access cards from residents and guest of the community and any other income is deposited to 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.
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, Kutak Rock LLP, 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
GMS, 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 2018B & 2019A 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 the District’s Special Assessment Bond Series 2018B and 2019A. An additional fee of $500 is incurred for a revised amortization fee after the District makes an Optional Redemption payment towards any of the Bonds. It has contracted with Governmental Management Services, LLC to provide this service.

Trustee Fees
The District will issue bonds to be held with a Trustee at a qualified Bank. The amount of the trustee fees is based on the agreement between US Bank and the District for the Special Assessment Bond Series 2018B and anticipated issuance of Special Assessments Bonds Series 2019A.
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
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.
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.
Telephone
New internet and Wi-Fi service for Office.
Postage
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.

Expenditures - Administrative (continued)

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 is based upon similar Community Development Districts.
Printing
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 (Property)
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.
General Facility Maintenance
The District has contracted with Governmental Management Services, LLC to provide maintenance and repairs necessary for upkeep of the Amenity Center and common grounds area.
Amenity Manager
The District has contracted with Governmental Management Services, LLC to provide Field Operations services, to include contract administration, field related inspections, etc.
Janitorial Services
The District is under contract with Governmental Management Services, LLC to provide janitorial cleaning for the Amenity Center.

Pool Maintenance
The District is under contract with Governmental Management Services, LLC for the maintenance of the Amenity Center Swimming Pool.
Pool Chemicals
The District will contract with local company to provide chemicals necessary for the maintenance of the Amenity Center swimming pool.
Pool Monitors
The District will contract with management company to provide personnel to monitor usage of the pool during peak swim season.

Security Monitoring
Maintenance costs of the security alarms/cameras provided by Hi-Tech System.
Security
The District will contract with security company for on-site patrols.
Permit Fees
Represents Permit Fees paid to the Department of Health for the swimming pool.
Telephone/Cable/Internet
The Amenity Center will contract with vendor to provide phone, cable and internet for Amenity Center.

Expenditures – Amenity Center

Electric
The cost of electricity provided by Clay Electric Cooperative. The District has the following meter:
Location	Account#	Monthly	Annual

2740 Firethorn Ave	9171539	$

600  $

7,200

Contingency for new accounts		18,000 

Total

$	600  $

25,200

Water/Sewer/Irrigation
Cost of reclaimed irrigation service from Clay County Utility Authority used by the district. The District has the following meters:
Location	Account#	Monthly	Annual	
2736 Copperwood Avenue	A00040095	$	100	$	1,200	
632 Silverberry Avenue	A00040096	300	3,600	
2738 Firethorn Avenue	A00043494	750	9,000	
634 Ivory Palm Road	A00043493	80	960	
2965 White Heron Trail	A00043492	150	1,800	
451 Cheswick Oak Ave	A00043491	120	1,440	
708 Sycamore Way	A00043489	80	960	
832 Sycamore Way	A00043488	160	1,920	
2530 Firethron Avenue	A00043487	175	2,100	
3048 Firethorn Avenue	A00043486	150	1,800	
3140 Firethorn Avenue	A00043485	50	600	
2744 Firethorn Avenue	A00044340	475	5,700	
3169 Flower Branch Avenue	A00047819	150	1,800	
678 Sycamore Way	A00048921	100	1,200	
New accounts for Cheswick South		20,920 

Repairs & Replacements

Total

$	2,840  $

55,000

Regular maintenance and replacement cost incurred by the Amenity Center of the District.
Refuse Service
The District has contracted with Republic Service company for garbage disposal service.
Location	Account#	Monthly	Annual

2740 Firethorn Ave	xx-9614	$

300  $

3,600

Cheswick South		1,440 

Special Events

Total

$	300  $

5,040

Represents estimated cost for the District to host any special events for the community throughout the Fiscal Year. Costs are partially offset by rental and miscellaneous income.
Recreational Passes
Represents the estimated cost for issuing access cards to the District’s residents for Amenity Center privileges. Residents must purchase replacement cards and receipts are posted to miscellaneous income.
Office Supplies / Mailings / Printing
Consists of mailings to residents, access control expenses, etc.

Expenditures – Ground Maintenance

Landscape Maintenance
The District is contracted with a Yellowstone Landscape to maintain the common areas of the District, landscape light repairs, tree removals, tree trimmings, additional mulching and new projects and replacements.
Contractor	Monthly	Annual
Yellowstone	$	9,165 $	109,980

Landscape Contingency

New Area for Cheswick South

	150,020
$	260,000

For additional landscape services and possible storm cleanup.
Irrigation Maintenance
Cost of miscellaneous repairs and maintenance to irrigation system.
Lake Maintenance
The District has contracted with Solitude Lake Management to maintain the water quality in all the lakes on District property.
Capital Reserve Fund
The District will establish a reserve to fund the renewal and replacement of District’s capital related facilities.

Wilford Preserve
Community Development District
Adopted Budget
Debt Service Series 2019A Special Assessment Bonds

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
	Description	FY 2025	7/31/25		2 Months		9/30/25	FY 2026	

REVENUES:							

Special Assessments - Tax Roll	
$	521,627	
$	523,341	
$	-	
$	523,341	
$	521,627	
Interest Earnings	7,500	20,314	2,000	22,314	10,000	
Carry Forward Surplus (1)	239,841	232,679	-	232,679	255,984	
TOTAL REVENUES	$	768,968	$	776,334	$	2,000	$	778,334	$	787,611	

EXPENDITURES:						
Interest -11/1	$	186,175	$	186,175	$	-	$	186,175	$	182,725	
Interest - 5/1	186,175	186,175	-	186,175	182,725	
Principal - 5/1	150,000	150,000	-	150,000	160,000	
TOTAL EXPENDITURES	$	522,350	$	522,350	$	-	$	522,350	$	525,450	

Other Sources/(Uses)

Interfund transfer In/(Out)

$	-  $

-  $	-  $

-  $	-

TOTAL OTHER SOURCES/(USES)

$

-  $

-  $

-  $

-  $

-

TOTAL EXPENDITURES

$	522,350  $	522,350  $

-  $	522,350  $	525,450

EXCESS REVENUES (EXPENDITURES)

$	246,618  $	253,984  $

2,000  $	255,984  $	262,161

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/26

 $	179,045 

Wilford Preserve
Community Development District
AMORTIZATION SCHEDULE (Combined)
Debt Service Series 2019A Special Assessment Bonds

Period	Outstanding Balance	Principal	Interest	Annual Debt Service	
					
11/01/25	$	7,160,000	$	182,725		
05/01/26	7,160,000  $	160,000	182,725	$	525,450	
11/01/26	7,000,000		179,045		
05/01/27	7,000,000	165,000	179,045	523,090	
11/01/27	6,835,000		174,920		
05/01/28	6,835,000	175,000	174,920	524,840	
11/01/28	6,660,000		170,545		
05/01/29	6,660,000	185,000	170,545	526,090	
11/01/29	6,475,000		165,920		
05/01/30	6,475,000	190,000	165,920	521,840	
11/01/30	6,285,000		161,170		
05/01/31	6,285,000	200,000	161,170	522,340	
11/01/31	6,085,000		156,170		
05/01/32	6,085,000	215,000	156,170	527,340	
11/01/32	5,870,000		150,795		
05/01/33	5,870,000	225,000	150,795	526,590	
11/01/33	5,645,000		145,170		
05/01/34	5,645,000	235,000	145,170	525,340	
11/01/34	5,410,000		139,295		
05/01/35	5,410,000	245,000	139,295	523,590	
11/01/35	5,165,000		133,170		
05/01/36	5,165,000	260,000	133,170	526,340	
11/01/36	4,905,000		126,670		
05/01/37	4,905,000	275,000	126,670	528,340	
11/01/37	4,630,000		119,795		
05/01/38	4,630,000	285,000	119,795	524,590	
11/01/38	4,345,000		112,670		
05/01/39	4,345,000	300,000	112,670	525,340	
11/01/39	4,045,000		105,170		
05/01/40	4,045,000	315,000	105,170	525,340	
11/01/40	3,730,000		96,980		
05/01/41	3,730,000	335,000	96,980	528,960	
11/01/41	3,395,000		88,270		
05/01/42	3,395,000	350,000	88,270	526,540	
11/01/42	3,045,000		79,170		
05/01/43	3,045,000	370,000	79,170	528,340	
11/01/43	2,675,000		69,550		
05/01/44	2,675,000	390,000	69,550	529,100	
11/01/44	2,285,000		59,410		
05/01/45	2,285,000	410,000	59,410	528,820	
11/01/45	1,875,000		48,750		
05/01/46	1,875,000	435,000	48,750	532,500	
11/01/46	1,440,000		37,440		
05/01/47	1,440,000	455,000	37,440	529,880	
11/01/47	985,000		25,610		
05/01/48	985,000	480,000	25,610	531,220	
11/01/48	505,000		13,130		
05/01/49	505,000	505,000	13,130	531,260	
Total	$	7,160,000  $	5,483,080	$  12,643,080	

Non-Ad Valorem Assessments Comparison 2025-2026

Neighborhood	O&M Units	
Annual Maintenance Assessments	
	
FY 2026	
FY 2025	
Increase/ (decrease)	

50'	493
60'	100	

$1,208.95
$1,208.95	

$1,208.95
$1,208.95	

$0.00
$0.00	

0.00%
0.00%	
Total	593					

Gross Assessments		$716,909.46	
Less: Discount	4.00%	28,676.38	
Less: Commission fees	2.00%	14,338.19	
Net Assessments		$673,894.89	

Adopted Budget Capital Reserve Fund

Description

Adopted Budget FY 2025

Actuals Thru	Projected Next  Projected Thru

7/31/25

	2 Months	

9/30/25

Adopted Budget FY 2026

REVENUES:

Interest Income

$	2,000  $

-  $	250  $

250  $

2,000

Capital Reserve Funding	105,000	-	105,000	105,000	93,210
Carry Forward Balance	-	-	-	-	98,495

TOTAL REVENUES

$	107,000  $

-  $	105,250  $	105,250  $	193,705

EXPENDITURES:

Repairs and Replacements

$	-  $

-  $	-  $	-  $	-

Capital Outlay	-	5,255	1,500	6,755	10,000

TOTAL EXPENDITURES

$

-  $

5,255  $

1,500  $

6,755  $	10,000

Other Sources/(Uses)

Transfer in/(Out)

$	-  $

-  $	-  $	-  $	-

TOTAL OTHER SOURCES/(USES)

$

-  $

-  $

-  $

-  $

-

TOTAL EXPENDITURES

$

-  $

5,255  $

1,500  $

6,755  $	10,000

EXCESS REVENUES (EXPENDITURES)

$	107,000  $	(5,255)  $	103,750  $	98,495  $	183,705