Scenic Highway
Community Development District

Adopted Budget
FY2023

Table of Contents

1-2

3-7

8

9-10

General Fund

General Fund Narrative

Series 2020 Debt Service Fund

Series 2020 Amortization Schedule

11	Capital Reserve Fund

Adopted Budget	Actuals Thru	Projected Next	Total Thru	Adopted Budget	
Description	FY2022	6/30/22	3 Months	9/30/22	FY2023	

Revenues						
Assessments	$	276,000	$	276,178	$	-	$	276,178	$	410,340	
Assessments - Lot Closings	$	-	$	230	$	-	$	230	$	-	
Developer Contributions	$	73,380	$	-	$	-	$	-	$	-	
Miscellaneous Revenue	$	-	$	36,545	$	-	$	36,545	$	-	
Total Revenues	$	349,380	$	312,953	$	-	$	312,953	$	410,340	

Expenditures						
Administrative
Supervisor Fees	
$	12,000	
$	4,800	
$	3,000	
$	7,800	
$	12,000	
Engineering	$	15,000	$	-	$	3,750	$	3,750	$	15,000	
Attorney	$	30,000	$	8,039	$	21,961	$	30,000	$	30,000	
Annual Audit	$	4,300	$	4,300	$	-	$	4,300	$	3,500	
Assessment Administration	$	5,000	$	5,000	$	-	$	5,000	$	5,000	
Arbitrage	$	650	$	-	$	450	$	450	$	450	
Dissemination	$	5,000	$	3,750	$	1,250	$	5,000	$	5,000	
Trustee Fees	$	3,550	$	3,030	$	-	$	3,030	$	3,550	
Management Fees	$	35,000	$	26,250	$	8,750	$	35,000	$	36,750	
Information Technology	$	1,800	$	1,350	$	450	$	1,800	$	1,800	
Website Maintenance	$	1,200	$	900	$	300	$	1,200	$	1,200	
Telephone	$	300	$	-	$	-	$	-	$	-	
Postage & Delivery	$	1,000	$	278	$	250	$	528	$	1,000	
Insurance	$	6,000	$	5,570	$	-	$	5,570	$	6,684	
Copies	$	1,000	$	8	$	250	$	258	$	1,000	
Legal Advertising	$	10,000	$	2,175	$	2,500	$	4,675	$	5,000	
Other Current Charges	$	5,000	$	350	$	150	$	500	$	5,000	
Office Supplies	$	625	$	15	$	156	$	171	$	625	
Travel Per Diem	$	660	$	-	$	-	$	-	$	-	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total Administrative	$	138,260	$	65,990	$	43,217	$	109,207	$	133,734	

Operations & Maintenance						
Field Services
Property Insurance	
$	5,000	
$	6,041	
$	-	
$	6,041	
$	10,000	
Field Management	$	15,000	$	4,375	$	3,750	$	8,125	$	15,750	
Landscape Maintenance	$	70,000	$	18,877	$	5,125	$	24,002	$	34,040	
Landscape Replacement	$	2,500	$	-	$	2,500	$	2,500	$	15,000	
Streetlights	$	18,000	$	9,967	$	3,300	$	13,267	$	14,520	
Electric	$	3,600	$	3,210	$	2,100	$	5,310	$	9,240	
Water & Sewer	$	2,400	$	-	$	600	$	600	$	2,400	
Sidewalk & Asphalt Maintenance	$	500	$	-	$	125	$	125	$	2,500	
Irrigation Repairs	$	2,500	$	675	$	625	$	1,300	$	7,500	
General Repairs & Maintenance	$	5,000	$	756	$	1,250	$	2,006	$	10,000	
Contingency	$	2,500	$	50,213	$	625	$	50,838	$	7,500	
Subtotal Field Services	$	127,000	$	94,114	$	20,000	$	114,114	$	128,450	

Adopted Budget	Actuals Thru	Projected Next	Total Thru	Adopted Budget	
Description	FY2022	6/30/22	3 Months	9/30/22	FY2023	

Amenity Expenditures						
Amenity - Electric	$	14,400	$	-	$	1,950	$	1,950	$	8,580	
Amenity - Water	$	3,500	$	-	$	2,250	$	2,250	$	9,900	
Playground & Furniture Lease	$	14,000	$	5,247	$	7,872	$	13,119	$	31,488	
Internet	$	3,000	$	196	$	330	$	526	$	1,452	
Pest Control	$	720	$	456	$	114	$	570	$	456	
Janitorial Service	$	8,500	$	213	$	1,350	$	1,563	$	5,400	
Security Services	$	7,500	$	2,000	$	1,875	$	3,875	$	34,000	
Pool Maintenance	$	18,000	$	-	$	2,925	$	2,925	$	11,700	
Amenity Access Management	$	5,000	$	-	$	1,250	$	1,250	$	5,000	
Amenity Repairs & Maintenance	$	1,000	$	-	$	250	$	250	$	10,000	
Contingency	$	7,500	$	280	$	1,875	$	2,155	$	7,500	
Subtotal Amenity Expenditures	$	83,120	$	8,393	$	22,041	$	30,434	$	125,476	
						
Total Operations & Maintenance	$	210,120	$	102,506	$	42,041	$	144,547	$	253,926	

Other Expenditures			
Capital Reserves - Transfer	$	1,000	$	-	$	-	$	-	$	22,680	
Total Other Expenditures	$	1,000	$	-	$	-	$	-	$	22,680	

Total Expenditures

$	349,380  $	168,496  $	85,258  $	253,754  $	410,340

Excess Revenues/(Expenditures)

$

-	$	144,457  $	(85,258)  $	59,199  $

-

Net Assessments	$410,340	
Add: Discounts & Collections 7%		$30,886 	
Gross Assessments		$441,226 	
Assessable Units	368	
Per Unit Gross Assessment		$1,198.98 	

Revenues:

Assessments

The District will levy a non-ad valorem assessment on all the assessable property within the District in order to pay for operating expenditures during the fiscal year.

Expenditures:

Administrative:

Supervisor Fees

Chapter 190, Florida Statutes, allows for each Board member to receive $200 per meeting, not to exceed
$4,800 per year paid to each Supervisor for the time devoted to District business and meetings.

Engineering

The District's engineer, Wood & Associates, provides general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review invoices and various projects as directed by the Board of Supervisors and the District Manager.

Attorney

The District's legal counsel, KE Law Group, PLLC, provides general legal services to the District, e.g. attendance and preparation for meetings, preparation and review of agreements, resolutions, etc. as directed by the Board of Supervisors and the District Manager.

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis. McDirmit Davis provides these services.

Assessment Administration

The District is contracted with Governmental Management Services – Central Florida, LLC to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on its Series 2020 bonds.

Dissemination

The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(5) which relates to additional reporting requirements for unrated bond issues. This cost is based upon the Series 2020 bond series. Governmental Management Services – Central Florida, LLC completes these reporting requirements.

Trustee Fees

The District will incur trustee related costs with the Series 2020 bonds.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-Central Florida, LLC. The services include but are not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reports, annual audits, etc.

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. Governmental Management Services – Central Florida, LLC provides these systems.

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. Governmental Management Services – Central Florida, LLC provides these services.

Postage & Delivery

The District incurs charges for mailing of Board meeting agenda packages, overnight deliveries, correspondence, etc.

Insurance

The District’s general liability and public official’s liability insurance coverage is provided by the Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Copies

Printing agenda items for board meetings, printing of computerized checks, stationary, envelopes, etc.

Legal Advertising

The District is required to advertise various notices for monthly Board meetings, public hearings, etc. in a newspaper of general circulation.

Other Current Charges

Bank charges and any other miscellaneous expenses incurred during the year.

Office Supplies

Any supplies that may need to be purchased during the fiscal year, e.g., paper, minute books, file folders, labels, paper clips, etc

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Florida Department of Economic Opportunity for
$175. This is the only expense under this category for the District.

Operations & Maintenance:

Field Services

Property Insurance

The District’s property insurance coverage is provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Field Management

The District is contracted with Governmental Management Services-Central Florida, LLC for onsite field management of contracts for the District such as landscape and lake maintenance. Services include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Landscape Maintenance

Represents the estimated maintenance of the landscaping within the common areas of the District after the installation of landscape material has been completed. The District has contracted with Prince & Sons, Inc. to provide these services.

Description	Monthly	Annually	
Landscape Maintenance
Total	$2,837		$34,040 
$34,040	

Landscape Replacement

Represents the estimated cost of replacing landscaping within the common areas of the District.

Streetlights

Represents the cost to maintain street lights within the District boundaries that are expected to be in place throughout the fiscal year.

Electric

Represents current and estimated electric charges of common areas throughout the District.

Water & Sewer

Represents current and estimated costs for water and refuse services provided for common areas throughout the District.

Sidewalk & Asphalt Maintenance

Represents the estimated costs of maintaining the sidewalks and asphalt throughout the District’s Boundary.

Irrigation Repairs

Represents the cost of maintaining and repairing the irrigation system. This includes the sprinklers, and irrigation wells.

General Repairs & Maintenance

Represents estimated costs for general repairs and maintenance of the District’s common areas.

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any field category.

Amenity Expenditures

Amenity - Electric

Represents estimated electric charges for the District’s amenity facilities.

Amenity – Water

Represents estimated water charges for the District’s amenity facilities.

Playground & Furniture Lease

The District has entered into a leasing agreement with 83 Holdings, LLC for playground and pool furniture installed in the community.

Description	Monthly	Annually	
Playground & Furniture Lease
Total	$2,624		$31,488 
$31,488	

Internet

Internet service will be added for use at the Amenity Center.

Pest Control

The District will incur costs for pest control treatments to its amenity facilities.

Janitorial Services

Represents the costs to provide janitorial services for the District’s amenity facilities. These services are provided by CSS Clean Star Services of Central Florida, Inc.

Description	Monthly	Annually	
Janitorial Services
Total	$450		$5,400 
$5,400	

Security Services

Represents the estimated cost of contracting a monthly security service for the District’s amenity facilities as well as maintaining security systems in place.

Pool Maintenance

Represents estimated costs of regular cleaning and treatments of the District’s pool.

Amenity Access Management

Represents the cost of managing and monitoring access to the District’s amenity facilities.

Amenity Repairs & Maintenance

Represents estimated costs for repairs and maintenance of the District’s amenity facilities.

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any amenity category.

Other Expenditures:

Capital Reserves - Transfer

Funds collected and reserved for the replacement of and/or purchase of new capital improvements throughout the District.

Adopted Budget
Series 2020 Debt Service Fund

Adopted Budget	Actuals Thru	Projected Next	Total Thru	Adopted Budget	
Description	FY2022	6/30/22	3 Months	9/30/22	FY2023	

Revenues					
Special Assessments	$	459,919	$	460,279	$	-	$	460,279	$	459,919	
Interest	$	-	$	149	$	-	$	149	$	-	
Carry Forward Surplus	$	151,772	$	151,784	$	-	$	151,784	$	153,700	
Total Revenues	$	611,691	$	612,212	$	-	$	612,212	$	613,619	

Expenditures					
Interest Expense - 11/1	$	151,756	$	151,756	$	-	$	151,756	$	149,625	
Principal Expense - 5/1	$	155,000	$	155,000	$	-	$	155,000	$	160,000	
Interest Expense - 5/1	$	151,756	$	151,756	$	-	$	151,756	$	149,625	
Total Expenditures	$	458,513	$	458,513	$	-	$	458,513	$	459,250	
					
Excess Revenues/(Expenditures)	$	153,178	$	153,700	$	-	$	153,700	$	154,369	

Interest Expense 11/1/23	 $	147,425 
Total	$	147,425

Maximum Annual	Net Assessment Per	Gross Assessment
Product	Assessable Units	Debt Service	Unit	Per Unit	
Single Family	368	$	459,919	$1,250	$1,344	
	368	$	459,919			

	Series	2020 Special Assessment Bonds Amortization Schedule		
Date		Balance	Prinicpal	Interest	Total	
					
11/01/22	$	7,965,000.00	$	-	$	149,625.00	$	456,381.25	
05/01/23	$	7,965,000.00	$	160,000.00	$	149,625.00	$	-	
11/01/23	$	7,805,000.00	$	-	$	147,425.00	$	457,050.00	
05/01/24	$	7,805,000.00	$	165,000.00	$	147,425.00	$	-	
11/01/24	$	7,640,000.00	$	-	$	145,156.25	$	457,581.25	
05/01/25	$	7,640,000.00	$	170,000.00	$	145,156.25	$	-	
11/01/25	$	7,470,000.00	$	-	$	142,818.75	$	457,975.00	
05/01/26	$	7,470,000.00	$	175,000.00	$	142,818.75	$	-	
11/01/26	$	7,295,000.00	$	-	$	139,975.00	$	457,793.75	
05/01/27	$	7,295,000.00	$	180,000.00	$	139,975.00	$	-	
11/01/27	$	7,115,000.00	$	-	$	137,050.00	$	457,025.00	
05/01/28	$	7,115,000.00	$	185,000.00	$	137,050.00	$	-	
11/01/28	$	6,930,000.00	$	-	$	134,043.75	$	456,093.75	
05/01/29	$	6,930,000.00	$	195,000.00	$	134,043.75	$	-	
11/01/29	$	6,735,000.00	$	-	$	130,875.00	$	459,918.75	
05/01/30	$	6,735,000.00	$	200,000.00	$	130,875.00	$	-	
11/01/30	$	6,535,000.00	$	-	$	127,625.00	$	458,500.00	
05/01/31	$	6,535,000.00	$	205,000.00	$	127,625.00	$	-	
11/01/31	$	6,330,000.00	$	-	$	123,781.25	$	456,406.25	
05/01/32	$	6,330,000.00	$	215,000.00	$	123,781.25	$	-	
11/01/32	$	6,115,000.00	$	-	$	119,750.00	$	458,531.25	
05/01/33	$	6,115,000.00	$	220,000.00	$	119,750.00	$	-	
11/01/33	$	5,895,000.00	$	-	$	115,625.00	$	455,375.00	
05/01/34	$	5,895,000.00	$	230,000.00	$	115,625.00	$	-	
11/01/34	$	5,665,000.00	$	-	$	111,312.50	$	456,937.50	
05/01/35	$	5,665,000.00	$	240,000.00	$	111,312.50	$	-	
11/01/35	$	5,425,000.00	$	-	$	106,812.50	$	458,125.00	
05/01/36	$	5,425,000.00	$	250,000.00	$	106,812.50	$	-	
11/01/36	$	5,175,000.00	$	-	$	102,125.00	$	458,937.50	
05/01/37	$	5,175,000.00	$	260,000.00	$	102,125.00	$	-	
11/01/37	$	4,915,000.00	$	-	$	97,250.00	$	459,375.00	
05/01/38	$	4,915,000.00	$	270,000.00	$	97,250.00	$	-	
11/01/38	$	4,645,000.00	$	-	$	92,187.50	$	459,437.50	
05/01/39	$	4,645,000.00	$	280,000.00	$	92,187.50	$	-	
11/01/39	$	4,365,000.00	$	-	$	86,937.50	$	459,125.00	
05/01/40	$	4,365,000.00	$	290,000.00	$	86,937.50	$	-	
11/01/40	$	4,075,000.00	$	-	$	81,500.00	$	458,437.50	
05/01/41	$	4,075,000.00	$	300,000.00	$	81,500.00	$	-	
11/01/41	$	3,775,000.00	$	-	$	75,500.00	$	457,000.00	
05/01/42	$	3,775,000.00	$	315,000.00	$	75,500.00	$	-	
11/01/42	$	3,460,000.00	$	-	$	69,200.00	$	459,700.00	
05/01/43	$	3,460,000.00	$	325,000.00	$	69,200.00	$	-	
11/01/43	$	3,135,000.00	$	-	$	62,700.00	$	456,900.00	

Series 2020 Special Assessment Bonds Amortization Schedule

Date	Balance	Prinicpal	Interest	Total

05/01/44	$	3,135,000.00	$	340,000.00	$	62,700.00	$	-	
11/01/44	$	2,795,000.00	$	-	$	55,900.00	$	458,600.00	
05/01/45	$	2,795,000.00	$	355,000.00	$	55,900.00	$	-	
11/01/45	$	2,440,000.00	$	-	$	48,800.00	$	459,700.00	
05/01/46	$	2,440,000.00	$	365,000.00	$	48,800.00	$	-	
11/01/46	$	2,075,000.00	$	-	$	41,500.00	$	455,300.00	
05/01/47	$	2,075,000.00	$	380,000.00	$	41,500.00	$	-	
11/01/47	$	1,695,000.00	$	-	$	33,900.00	$	455,400.00	
05/01/48	$	1,695,000.00	$	400,000.00	$	33,900.00	$	-	
11/01/48	$	1,295,000.00	$	-	$	25,900.00	$	459,800.00	
05/01/49	$	1,295,000.00	$	415,000.00	$	25,900.00	$	-	
11/01/49	$	880,000.00	$	-	$	17,600.00	$	458,500.00	
05/01/50	$	880,000.00	$	430,000.00	$	17,600.00	$	-	
11/1/50	$	450,000.00	$	-	$	9,000.00	$	456,600.00	
5/1/51	$	450,000.00	$	450,000.00	$	9,000.00	$	459,000.00	
			$	7,965,000.00	$	5,463,750.00	$	13,735,506.25	

Adopted Budget Capital Reserve Fund

Adopted Budget	Actuals Thru	Projected Next	Total Thru	Adopted Budget	
Description	FY2022	44742	3 Months	44834	FY2023	

Revenues			
Interest	$	-	$	-	$	-	$	-	$	-	
Carry Forward Surplus	$	-	$	-	$	-	$	-	$	-	
Total Revenues	$	-	$	-	$	-	$	-	$	-	

Expenditures			
Capital Outlay	$	-	$	-	$	-	$	-	$	-	
Total Expenditures	$	-	$	-	$	-	$	-	$	-	

Other Financing Sources/(Uses)
Transfer In/(Out)	

$	1,000	

$	-	$	-	$	-	$	22,680	
Total Other Financing Sources/(Uses)	$	1,000	$	-	$	-	$	-	$	22,680	
			
Excess Revenues/(Expenditures)	$	1,000	$	-	$	-	$	-	$	22,680