Coral Keys Homes	
Community Development District	

Adopted Budget	
FY 2027	

Table of Contents

1-2

3-5

6

7

	General Fund

	Narratives

	Debt Service Fund Series 2020

	Series 2020 Amortization Schedule

8		Assessment Schedule

Coral Keys Homes	
Community Development District	
Adopted Budget	
General Fund	

REVENUES:						
Special Assessments - On Roll	$337,535	$331,199	$6,336	$337,535	$337,535	
Clubhouse Room Rentals	-	1,475	1,054	2,529	-	
Fob Replacement	-	350	250	600	-	
Interest Income	20,000	15,461	11,043	26,504	20,000	
Miscellaneous Revenue	-	1,626	-	1,626	-	
Carry Forward Surplus	152,439	92,244	115,638	207,882	155,580	

TOTAL REVENUES	$509,974	$442,355	$134,320	$576,675	$513,115	

EXPENDITURES:						
Administrative						
Supervisor Fees	$6,000	$1,000	$2,000	$3,000	$6,000	
PR-FICA	459	77	153	230	459	
Engineering	6,000	401	2,500	2,901	6,000	
Attorney Fees	15,000	5,638	4,027	9,664	15,000	
Annual Audit	5,500	3,900	-	3,900	5,500	
Arbitrage Rebate	550	-	550	550	550	
Assessment Roll	2,000	2,000	-	2,000	2,000	
Dissemination Agent	1,500	875	625	1,500	1,500	
Trustee Fees	4,100	4,041	-	4,041	4,100	
Management Fees	55,272	32,242	23,030	55,272	58,588	
Computer Time	1,200	700	500	1,200	1,200	
Website Maintenance	1,200	700	500	1,200	1,200	
Telephone	50	-	21	21	50	
Postage & Delivery	750	102	313	415	750	
Printing & Binding	500	5	208	213	500	
Insurance General Liability	8,489	8,084	-	8,084	8,914	
Legal Advertising	3,000	-	1,250	1,250	3,000	
Other Current Charges	1,400	535	583	1,118	1,400	
Office Supplies	150	0	63	63	150	
Dues, Licenses & Subscriptions	175	175	-	175	175	
Operating Reserves	35,000	-	14,583	14,583	30,000	
TOTAL ADMINISTRATIVE	$148,295	$60,474	$50,906	$111,380	$147,036	

Operations & Maintenance						
Field Expenditures						
Electric	$3,000	$1,022	$1,022	$2,043	$3,000	
Street Lighting	20,000	9,916	9,916	19,832	21,000	
General Repairs	6,000	2,175	1,554	3,729	10,000	
Landscape Maintenance	32,000	17,500	12,750	30,250	32,000	
Plant Replacement	5,000	10,120	2,083	12,203	10,000	
Janitorial & Porter Services	4,000	-	1,667	1,667	4,000	
Lake Maintenance	7,200	1,750	1,250	3,000	7,200	
Drainage Maintenance	10,000	-	10,000	10,000	10,000	
Lake Debris Removal	1,800	-	750	750	1,800	
Entrance Monuments and Wall	12,000	-	5,000	5,000	10,000	
Sidewalk Maintenance	5,000	-	2,083	2,083	5,000	
Mail Kiosk	3,600	-	1,500	1,500	3,600	
				.		
TOTAL FIELD EXPENDITURES	$109,600	$42,483	$49,575	$92,057	$117,600	

Coral Keys Homes	
Community Development District	
Adopted Budget	
General Fund	

Amenity Expenditures

Management - Clubhouse	$42,188	$17,500	$24,688	$42,188	$42,188	
Management - Clubhouse Attendance	20,280	11,762	8,401	20,163	20,280	
Employee Medical Insurance	1,500	-	625	625	1,500	
Security	50,000	25,190	17,993	43,183	50,000	
Video Surveillance/Monitoring	11,600	5,950	4,250	10,200	11,600	
Electricity	15,600	6,004	6,004	12,009	15,600	
Water	7,500	896	1,254	2,150	7,000	
Janitorial & Porter Services	12,000	-	5,000	5,000	8,000	
Property Insurance	17,000	15,656	-	15,656	17,000	
Repairs and Maintenance	15,000	10,886	7,776	18,662	15,000	
Pool Maintenance	14,400	3,060	2,186	5,246	14,400	
Pool Repairs	4,000	4,314	3,082	7,396	8,000	
Basket Ball Court	4,800	-	2,000	2,000	4,000	
Landscape Improvement	3,500	-	1,458	1,458	3,500	
Gym Equipment Maintenance/Repairs	4,000	2,095	1,496	3,591	4,000	
Internet/Cable Services	6,000	3,686	2,633	6,319	6,000	
Toddler Parks	4,000	-	2,333	2,333	4,000	
Picnic Area and Gazebos	4,800	-	2,800	2,800	2,500	
Contingencies	9,911	6,891	5,781	12,672	9,911	
Operating Supplies	4,000	1,672	2,333	4,006	4,000	
TOTAL AMENITY EXPENDITURES	$252,079	$115,563	$102,095	$217,658	$248,479	

TOTAL EXPENDITURES	$509,974	$218,520	$202,575	$421,095	$513,115	

EXCESS REVENUES (EXPENDITURES)	$0	$223,835	$(68,255)	$155,580	$-	

Gross Assessments	
Less: Discounts & Collections 5%	
Net Assessments	

$	355,300	
	(17,765) 	
 $	337,535 	

Product	Assessable Units	Total Gross Assessment	FY26
Gross Per Unit	FY27
Gross Per Unit	Increase/ (Decrease)	

Single Family	323	$  355,300.00	$	1,100.00	$	1,100.00	$	-	

Total	323	$ 355,300.00	

REVENUES	

Special Assessments-Tax Roll	
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.	
Interest	
The District earns interest on the monthly average collected balance for each of their investment accounts.	

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 6 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.	
Arbitrage Rebate	
The District is required to annually have an arbitrage rebate calculation on the District's Special Assessment Bonds.	
Assessment Roll Administration	
GMS SF, LLC provides assessment services for closing lot sales, assessment roll services with the local Tax Collector and financial advisory services.	
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 bonds will be held and administered by a Trustee. This represents the trustee annual fee.	
Management Fees	
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-South Florida, 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 – South Florida, 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 GMS-SF, LLC and updated monthly.	
Communication - Telephone	
New internet and Wi-Fi 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.	
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 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.	
Contingencies	
A contingency for any unanticipated and unscheduled cost to the District.	
Operating Reserves	
Funds for expenditures of the District will be incurred before assessments are collected.	
Expenditures – Field	
Electricity	
FPL provides electricity for Common Area Lighting.	
Street Lighting	
The District has accounts with City for the street lighting surrounding the District and the entryways.	
General Repairs & Maintenance	
Any miscellaneous repairs not included in another budget line item.	
Landscape Maintenance	
Includes monthly cleaning of all District lakes.	
Plant Replacement	
The District will go into contract for the replacement of plants needed along the common areas.	
Janitorial & Porter Services	
The District will contract with a qualified company to provide janitorial services for the Amenity Center.	
Lake Maintenance	
Includes monthly cleaning of all District lakes.	
Lake Debris Removal	
Includes monthly debris removal from all lakes.	
Entrance Monuments and Wall	
Includes maintenance and repair work needed for the monument signs throughout the common area.	
Sidewalk Maintenance	
Represents pressure washing of the District sidewalks.	
Mail Kiosk	
Includes maintaining the self-service mail kiosk within the District.	
Drainage Maintenance	
District will hire an on-site person to handle drainage inspections, logging and maintenance of the storm drain system.	

Expenditures – Amenity	
Management - Clubhouse	
Onsite management fees for the clubhouse.	
Management - Clubhouse Attendance	
Salary and cost associated with the payroll for the Clubhouse manager.	
Employee Medical Insurance	
Cost of medical insurance for clubhouse employees.	
Security	
Night watch as needed.	
Video Surveillance/Monitoring	
For security and safety purposes, the district will contract a qualified company to monitor and record activities at the clubhouse.	
Electricity	
FPL provides electricity for all Clubhouse areas.	
Water	
Water and sewer cost for the Clubhouse.	
Janitorial & Porter Services	
The District will contract with a qualified company to provide janitorial services for the Amenity Center.	
Property Insurance	
The cost to the District for its Amenity Center property insurance policy; Florida Insurance Alliance (FIA) specializes in providing insurance coverage to governmental agencies.	
Repairs and Maintenance	
Any miscellaneous repairs not included in another budget line item.	
Pool Maintenance	
Cost to maintain the pool, does not include repairs.	
Pool -Repairs	
Cost to make unanticipated repairs to the pool.	
Basket Ball Court	
Estimated cost to maintain the basketball courts.	
Landscape Improvement	
The cost to anticipate any landscape improvements needed to the surrounding areas.	
Gym Equipment Maintenance	
Estimated cost to maintain the fitness equipment.	
Internet/Cable Services	
Estimated cost of cable and internet for the Clubhouse as needed.	
Toddler Parks	
Estimated cost to maintain toddler parks within the District.	
Picnic Area and Gazebos	
Estimated cost of the repairs for the gazebo and trellis repairs and maintenance.	
Contingencies	
A contingency for any unanticipated and unscheduled cost to the District.	
Operating Supplies	
Supplies needed to run and operate the Clubhouse daily.	

Coral Keys Homes	
Community Development District	
Adopted Budget	
Debt Service Series 2020 Special Assessment Refunding Bonds	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2026	4/30/26	5 Months	9/30/26	FY 2027	

REVENUES:

Special Assessments-On Roll	$318,477	$312,446	$6,031	$318,477	$318,477	
Interest Income	10,000	7,739	5,528	13,267	10,000	
Carry Forward Surplus (1)	161,275	162,714	-	162,714	174,989	

TOTAL REVENUES	$489,752	$482,899	$11,559	$494,458	$503,465	

EXPENDITURES:

Interest - 11/1	$97,234	$97,234	$-	$97,234	$95,281	
Principal - 5/1	125,000	-	125,000	125,000	125,000	
Interest - 5/1	97,234	-	97,234	97,234	95,281	

TOTAL EXPENDITURES	$319,469	$97,234	$222,234	$319,469	$315,563	

EXCESS REVENUES (EXPENDITURES)	$170,283	$385,664	$(210,676)	$174,989	$187,903	

Interest Due 11/1/27	$93,328.13	
	$93,328.13	

(1) Carry Forward is Net of Reserve Requirement

Gross Assessments	
Less: Discounts & Collections 5%	
Net Assessments	

$	335,238	
	(16,762) 	
 $	318,477 	

Product	Assessable Units	Total Gross Assessment	FY26
Gross Per Unit	FY27
Gross Per Unit	Increase/ (Decrease)	

Single Family	323	$  335,238.47	$	1,037.89	$	1,037.89	$	-	

Total	323	$ 335,238.47	

Coral Keys Homes	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2020 Special Assessment Refunding Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

11/01/26	4,880,000	3.125%		95,281	317,515.63	
05/01/27	4,880,000	3.125%	125,000	95,281		
11/01/27	4,755,000	3.125%		93,328	313,609.38	
05/01/28	4,755,000	3.125%	130,000	93,328		
11/01/28	4,625,000	3.125%		91,297	314,625.00	
05/01/29	4,625,000	3.125%	135,000	91,297		
11/01/29	4,490,000	3.125%		89,188	315,484.38	
05/01/30	4,490,000	3.125%	140,000	89,188		
11/01/30	4,350,000	4.000%		87,000	316,187.50	
05/01/31	4,350,000	4.000%	145,000	87,000		
11/01/31	4,205,000	4.000%		84,100	316,100.00	
05/01/32	4,205,000	4.000%	150,000	84,100		
11/01/32	4,055,000	4.000%		81,100	315,200.00	
05/01/33	4,055,000	4.000%	155,000	81,100		
11/01/33	3,900,000	4.000%		78,000	314,100.00	
05/01/34	3,900,000	4.000%	165,000	78,000		
11/01/34	3,735,000	4.000%		74,700	317,700.00	
05/01/35	3,735,000	4.000%	170,000	74,700		
11/01/35	3,565,000	4.000%		71,300	316,000.00	
05/01/36	3,565,000	4.000%	175,000	71,300		
11/01/36	3,390,000	4.000%		67,800	314,100.00	
05/01/37	3,390,000	4.000%	185,000	67,800		
11/01/37	3,205,000	4.000%		64,100	316,900.00	
05/01/38	3,205,000	4.000%	190,000	64,100		
11/01/38	3,015,000	4.000%		60,300	314,400.00	
05/01/39	3,015,000	4.000%	200,000	60,300		
11/01/39	2,815,000	4.000%		56,300	316,600.00	
05/01/40	2,815,000	4.000%	205,000	56,300		
11/01/40	2,610,000	4.000%		52,200	313,500.00	
05/01/41	2,610,000	4.000%	215,000	52,200		
11/01/41	2,395,000	4.000%		47,900	315,100.00	
05/01/42	2,395,000	4.000%	225,000	47,900		
11/01/42	2,170,000	4.000%		43,400	316,300.00	
05/01/43	2,170,000	4.000%	235,000	43,400		
11/01/43	1,935,000	4.000%		38,700	317,100.00	
05/01/44	1,935,000	4.000%	245,000	38,700		
11/01/44	1,690,000	4.000%		33,800	317,500.00	
05/01/45	1,690,000	4.000%	255,000	33,800		
11/01/45	1,435,000	4.000%		28,700	317,500.00	
05/01/46	1,435,000	4.000%	265,000	28,700		
11/01/46	1,170,000	4.000%		23,400	317,100.00	
05/01/47	1,170,000	4.000%	275,000	23,400		
11/01/47	895,000	4.000%		17,900	316,300.00	
05/01/48	895,000	4.000%	285,000	17,900		
11/01/48	610,000	4.000%		12,200	315,100.00	
05/01/49	610,000	4.000%	300,000	12,200		
11/01/49	310,000	4.000%		6,200	318,400.00	
05/01/50	310,000	4.000%	310,000	6,200	316,200.00	

Total	$4,880,000	$2,796,388	$7,676,388	

Coral Keys Homes	
Community Development District	
Non-Ad Valorem Assessments Comparison	
2026-2027	

Product Type	O&M Units	Bonds Units
2020	
Annual Maintenance Assessments	
Annual Debt Assessments	
Total Assessed Per Unit	
	
FY 2027	
FY2026	Increase/ (decrease)	
FY 2027	
FY2026	Increase/ (decrease)	
FY 2027	
FY2026	Increase/ (decrease)	

Single Family	

323	

323	

$1,100.00	

$1,100.00	

$0.00	

$1,037.89	

$1,037.89	

$0.00	

$2,137.89	

$2,137.89	

$0.00	
Total	323	323										

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