Wilford Preserve

Community Development District

Approved Budget
FY 2027

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	Actuals Thru  Projected Next Projected Thru	Approved
Budget	Budget	
Description	FY 2026	4/30/26	  5 Months		9/30/26	FY 2027	

REVENUES:						
Special Assessments - Tax Roll	$	673,895	$	670,891	$	-	$	670,891	$	977,653	
Special Assessments - Direct Bill	110,204	16,926	93,278	110,204	-	
Developer Funded Cheswick South	153,376	-	153,376	153,376	-	
Interest Income	6,000	9,673	3,500	13,173	5,000	
Miscellaneous Income	1,000	439	200	639	1,000	
TOTAL REVENUES	$  944,475	$  697,929	$  250,354	$  948,283	$  983,653	

EXPENDITURES:						
Administrative						
Supervisor Fees	$	4,800	$	2,400	$	2,400	$	4,800	$	9,600	
FICA Taxes	367	184	184	367	734	
Engineering	6,000	8,887	7,500	16,387	15,000	
Attorney	15,000	6,926	8,074	15,000	15,000	
Annual Audit	5,200	5,100	-	5,100	5,200	
Assessment Roll Administration	5,899	5,899	-	5,899	6,253	
Arbitrage Rebate	600	600	-	600	1,050	
Dissemination Agent	8,258	4,817	3,441	8,258	8,800	
Trustee Fees	7,000	4,036	-	4,036	13,000	
Management Fees	57,974	33,818	24,156	57,974	61,452	
Information Technology	1,113	649	464	1,113	1,180	
Website Maintenance	1,336	779	556	1,336	1,416	
Telephone	300	173	127	300	300	
Postage	500	523	250	773	800	
Insurance General Liability	8,208	7,734	-	7,734	8,507	
Printing	1,200	290	910	1,200	1,200	
Legal Advertising	3,000	3,599	1,500	5,099	3,000	
Other Current Charges	600	366	234	600	600	
Office Supplies	100	8	92	100	100	
Dues, Licenses & Subscriptions	175	175	-	175	175	
TOTAL ADMINISTRATIVE	$  127,630	$	86,963	$	49,887	$  136,851	$  153,367	

Operations & Maintenance						
Amenity Center						
Insurance	$	11,850	$	9,916	$	-	$	9,916	$	15,000	
General Facility Maintenance	35,000	9,916	25,084	35,000	35,000	
Amenity Manager	71,285	41,583	29,702	71,285	75,562	
Janitorial Services	15,900	9,275	6,625	15,900	16,854	
Pool Maintenance	31,800	18,550	13,250	31,800	34,980	
Pool Chemicals	20,000	3,136	16,864	20,000	20,000	
Pool Monitors	25,000	1,027	23,973	25,000	25,000	
Security Monitoring	1,235	-	1,235	1,235	1,235	
Security	93,325	26,997	19,890	46,887	93,325	
Permit Fees	900	-	900	900	900	
Telephone/Cable/Internet	1,000	-	1,000	1,000	1,000	
Electric	25,200	3,411	21,789	25,200	25,200	
Water/Sewer/Irrigation	55,000	13,248	11,752	25,000	55,000	
Repairs & Replacements	25,000	4,030	15,970	20,000	25,000	
Refuse Service	5,040	2,601	899	3,500	5,040	
Special Events	6,000	3,398	2,000	5,398	6,000	
Recreational Passes	2,500	520	1,980	2,500	2,500	
Office Supplies/Mailings/Printing	600	-	600	600	600	
TOTAL AMENITY CENTER	$  426,635	$  147,608	$  193,513	$  341,121	$  438,196	

Adopted	Actuals Thru  Projected Next Projected Thru	Approved
Budget	Budget	
Description	FY 2026	4/30/26	  5 Months		9/30/26	FY 2027	

Ground Maintenance						
Operations Management	$	-	$	-	$	-	$	-	$	15,000	
Landscape Maintenance	260,000	60,480	43,200	103,680	260,000	
Landscape Contingency	6,000	1,440	4,560	6,000	6,000	
Irrigation Maintenance	5,000	605	5,000	5,605	5,000	
Lake Maintenance	26,000	7,540	4,350	11,890	20,880	
TOTAL GROUND MAINTENANCE	$  297,000	$	70,065	$	57,110	$  127,175	$  306,880	

Reserves						
Capital Reserve Fund	$	93,210	$	-	$	93,210	$	93,210	$	85,210	
TOTAL RESERVES	$	93,210	$	-	$	93,210	$	93,210	$	85,210	
						
TOTAL EXPENDITURES	$  944,475	$  304,636	$  393,721	$  698,357	$  983,653	

Other Sources/(Uses)						
Interlocal Transfer In/(Out)	$	-	$	-	$	-	$	-	$	-	
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	
						
EXCESS REVENUES (EXPENDITURES)	$	-	$  393,293	$  (143,367)	$  249,926	$	-	

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 guests of the community and any other income is deposited into 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 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's engagement plus an 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 2019A Special Assessment Revenue Bonds and anticipated issuance of Special Assessment Bonds, Series 2026.
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
GMS
Disclosure Services

Description
Dissemination Agent
Revised Amortization Schedules

Total

Monthly	Annual
$	717 $	8,600
	200 
$	8,800

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 2019A and anticipated issuance of Special Assessments Bonds Series 2026.
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 the 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 are incurred during the year.
Office Supplies
Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects.
Dues, 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 a local company to provide chemicals necessary for the maintenance of the Amenity Center swimming pool.
Pool Monitors
The District will contract with a 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 Systems.
Security
The District will contract with a 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 a vendor to provide phone, cable and internet for the Amenity Center.

Expenditures – Amenity Center

Electric
The cost of electricity provided by Clay Electric Cooperative. The District has the following meter:
Location	Meter	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	Meter	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 Firethorn 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 costs incurred by the Amenity Center of the District.
Refuse Service
The District has contracted with Republic Services 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

Operations Management
The District has contracted with Governmental Management Services, LLC to provide onsite field management of contracts for District Services such as landscape and lake maintenance. Services to include weekly site inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Vendor

Monthly	Annual

Landscape Maintenance

GMS, LLC

$	1,250  $

15,000

The District has 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.
Vendor	Monthly	Annual
Yellowstone	$	9,165 $	109,980

Landscape Contingency

New Area for Cheswick South

	150,020 
Total	$	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 The Lake Doctors to maintain the water quality in all the lakes on District property.
Vendor	Monthly	Annual

The Lake Doctors

$	870  $

10,440

New Area for Phase IV and Cheswick 	-	10,440 
Total	$	20,880
Capital Reserve Fund
The District will establish a reserve to fund the renewal and replacement of District’s capital related facilities.

Community Development District
Approved Budget
Debt Service Series 2019A Special Assessment Bonds

Adopted Budget FY 2026

Actuals Thru
4/30/26

Projected Next  Projected Thru

Description

	5 Months	

9/30/26

Approved Budget FY 2027

REVENUES:

Special Assessments - Tax Roll	$	521,627	$	517,489	$	2,315	$	519,804	$	521,613	
Interest Earnings	10,000	13,018	3,500	16,518	10,000	
Carry Forward Surplus (1)	255,984	251,936	-	251,936	262,808	
TOTAL REVENUES	$	787,611	$	782,443	$	5,815	$	788,258	$	794,420	

EXPENDITURES:						
Interest -11/1	$	182,725	$	182,725	$	-	$	182,725	$	179,045	
Interest - 5/1	182,725	-	182,725	182,725	179,045	
Principal - 5/1	160,000	-	160,000	160,000	165,000	
TOTAL EXPENDITURES	$	525,450	$	182,725	$	342,725	$	525,450	$	523,090	

Other Sources/(Uses)						

Interfund transfer In/(Out)	
$	-	
$	-	
$	-	
$	-	
$	-	
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	
						
TOTAL EXPENDITURES	$	525,450	$	182,725	$	342,725	$	525,450	$	523,090	
						
EXCESS REVENUES (EXPENDITURES)	$	262,161	$	599,718	$  (336,910)	$	262,808	$	271,330	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/27

 $	174,920 

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

Period	Outstanding Balance	Principal	Interest	Annual Debt Service	
					
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	$	7,000,000  $	5,117,630	$  12,117,630	

Non-Ad Valorem Assessments Comparison 2026-2027

Neighborhood	
O&M Units	
Annual Maintenance Assessments	
	
FY 2027	
FY 2026	
Increase/ (decrease)	

50'	

493	

$1,260.67	

$1,208.95	

$51.72	

4.28%	
60'	100	$1,260.67	$1,208.95	$51.72	4.28%	
Cheswick South	232	$1,260.67	$0.00	$1,260.67	100%	
Total	825					

Gross Assessments		$1,040,056.52	
Less: Discount	4.00%	41,602.26	
Less: Commission fees	2.00%	20,801.13	
Net Assessments		$977,653.13	

Approved Budget Capital Reserve Fund

Description

Adopted Budget FY 2026

Actuals Thru	Projected Next  Projected Thru

4/30/26

	5 Months	

9/30/26

Approved Budget FY 2027

REVENUES:

Interest Income

$	2,000  $

1,773  $

1,200  $

2,973  $

2,000

Capital Reserve Funding	93,210	-	93,210	93,210	85,210
Carry Forward Balance	98,495	-	98,495	98,495	144,044

TOTAL REVENUES	$	193,705  $	1,773  $	192,905  $	194,678  $	231,254

EXPENDITURES:

Capital Outlay

$	10,000  $

35,634  $

15,000  $

50,634  $

50,000

TOTAL EXPENDITURES	$	10,000  $	35,634  $	15,000  $	50,634  $	50,000

Other Sources/(Uses)

Transfer in/(Out)

$	-  $

-  $	-  $	-  $	-

EXCESS REVENUES (EXPENDITURES)	$	183,705  $	(33,862)  $	177,905  $	144,044  $	181,254

TOTAL EXPENDITURES	$	10,000  $	35,634  $	15,000  $	50,634  $	50,000

TOTAL OTHER SOURCES/(USES)	$	-  $	-  $	-  $	-  $	-