Adopted - Proposed Budget
Fiscal Year 2023

Copper Oaks Community Development District

August 29, 2022

Copper Oaks
Community Development District

TABLE OF CONTENTS

General Fund Budget Narrative

Page 1
Page 2-3

Debt Service Fund Budget
Amortization Schedule

Page 4
Page 5

Assessment Table

Page 6

Copper Oaks
Community Development District

General Fund

Adopted Budget
 	FY 2022	

Actual thru
    7/31/2022 

Projected Next
    2 Months	

Total Projected at
    9/30/2022 

Adopted Budget
 	FY 2023	

 Description	

Revenues
Carryforward Surplus
Maintenance Assessments-On Roll

$21,035
$114,368

$29,555
$116,934

$0
$0

$29,555
$116,934

$17,227
$114,368

Total Revenues

 	$135,403 

 	$146,489 

 	$0 

 	$146,489 

 	$131,595 

Expenditures

Administrative Engineering Fees Dissemination Agent Assessment Roll Attorney Fees Annual Audit Management Fees Telephone
Postage
Insurance General Liability Printing & Binding
Legal Advertising Other Current Charges Website Compliance Office Supplies
Dues, Licenses

$8,500
$1,000
$2,000
$10,000
$4,000
$41,527
$150
$500
$7,153
$500
$1,500
$600
$1,000
$100
$175

$8,688
$833
$2,000
$4,303
$4,600
$34,606
$0
$180
$6,731
$217
$661
$393
$833
$21
$175

$500
$167
$0
$5,698
$0
$6,921
$0
$50
$0
$50
$300
$207
$167
$15
$0

$9,188
$1,000
$2,000
$10,000
$4,600
$41,527
$0
$230
$6,731
$267
$961
$600
$1,000
$36
$175

$8,500
$1,000
$2,000
$10,000
$4,700
$41,527
$150
$500
$7,572
$500
$1,500
$600
$1,000
$100
$175

Total Administrative

 	$78,705 

 	$64,240 

 	$14,074 

 	$78,314 

 	$79,824 

Maintenance Field Manager Electric
Lake Maintenance Landscape Maintenance Plant Replacement Irrigation Repairs
Pump System Maintenance Repair and Maintenance Contingency

$2,500
$2,160
$4,740
$25,399
$1,000
$12,000
$3,000
$4,899
$1,000

$0
$1,669
$3,675
$19,079
$0
$2,700
$4,580
$0
$0

$0
$300
$830
$4,400
$1,000
$2,000
$0
$4,899
$8,566

$0
$1,969
$4,505
$23,479
$1,000
$4,700
$4,580
$4,899
$8,566

$2,500
$2,400
$4,980
$26,400
$1,000
$8,000
$3,000
$2,491
$1,000

Total Maintenance

 	$56,698 

 	$31,702 

 	$21,995 

 	$53,697 

 	$51,771 

Total Expenditures

 	$135,403 

 	$95,942 

 	$36,069 

 	$132,012 

 	$131,595 

Other Financing Sources/(Uses)

Interfund Transfer In/(Out)

$0

$2,750

$0

$2,750

$0

Total Other Financing Sources/(Uses)

$0

$2,750

$0

$2,750

$0

Excess Revenues/(Expenditures)

 	$0 

$50,546

($36,069)

$17,227

$0

Page 1

Copper Oaks
Community Development District

General Fund

REVENUES:

Maintenance Assessments
The District will levy a Non-Ad Valorem assessment on all the platted lots within the District to pay the operating expenses for the Fiscal Year in accordance with the adopted budget.

_

_

_

_

_

EXPENDITURES:

Administrative:

Engineering Fees
The District's engineer will be providing general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review invoices, etc.

Dissemination Agent
A dissemination agent is expected to perform continuing disclosure services for the outstanding bonds.

Assessment Roll
Expenses incurred for updating the districts’ tax roll and levying the annual assessments.

Attorney Fees
The District's legal counsel will be providing general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating & maintenance contracts, etc.

Annual Audit
The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm.

Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services – South Florida, LLC.

Telephone
Telephone and fax machine.

Postage
Mailing of agenda packages, overnight deliveries, correspondence, etc.

Insurance
The District's General Liability & Public Officials Liability Insurance policy is with Egis Insurance & Risk Advisors, who specialize in providing insurance coverage to governmental agencies.

Printing & Binding
Printing and Binding agenda packages 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.

Page 2

Copper Oaks
Community Development District

General Fund

Administrative (continued)

Other Current Charges
Bank charges and any other miscellaneous expenses that incurred during the year.

Website Compliance
Per Section 189.069 of the Florida Statutes, all Districts must have a website by 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 as required by the Statute.

Office Supplies
Miscellaneous office supplies.

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

Maintenance:

Field Manager
Represents costs for the supervision and on-site management of Copper Oaks Community Development District.

Lake Maintenance
Represents costs to maintain the water quality in all the lakes in Copper Oaks Community Development District.

Landscape Maintenance
Scheduled maintenance consists of mowing, edging, blowing, applying pest and disease control chemicals to sod.

Plant Replacement
Miscellaneous plant replacements.

Irrigation Repairs
Miscellaneous irrigation repairs and maintenance.

Pump System Maintenance
The District has a contract with Hoover Pumping Systems for the annual maintenance of the pump system.

Repair and Maintenance
Represents repairs and maintenance of projects.

Contingency
Includes any miscellaneous expense related to the maintenance of the common areas.

Page 3

Copper Oaks
Community Development District

Debt Service Fund
Series 2021 - Special Assessment Refunding Bonds

Adopted Budget
 	FY 2022	

Actual thru
    7/31/2022 

Projected Next
    2 Months	

Total Projected at
    9/30/2022 

Adopted Budget
 	FY 2023	

 Description	

Revenues

Carry Forward Surplus(1) Special Assessments - On Roll Interest Income

$31,968
$251,091
$5

$31,969
$256,725
$5

$0
$0
$1

$31,969
$256,725
$6

$46,771
$251,091
$0

Total Revenues

 	$283,064 

 	$288,699 

 	$1 

 	$288,700 

 	$297,862 

Expenditures

Series 2021 Interest 11/1 Interest - 5/1 Principal - 5/1
Trustee Fees

$26,969
$42,960
$167,000
$5,000

$26,969
$42,960
$167,000
$0

$0
$0
$0
$5,000

$26,969
$42,960
$167,000
$5,000

$40,455
$40,455
$172,000
$5,000

Total Expenditures

 	$241,929 

 	$236,929 

 	$5,000 

 	$241,929 

 	$257,910 

Excess Revenues/(Expenditures)

 	$41,135 

$51,770

($4,999)

$46,771

$39,952

2021 Interest

- 11/1/23
Total

 	$37,875
 	$37,875

(1)Carry forward is net of Reserve Fund requirement.

Page 4

Copper Oaks
Community Development District

Series 2021 - Special Assessment Refunding Bonds
Amortization Schedule

PRINCIPAL
 	BALANCE	

 	DATE	

    RATE 

 	INTEREST	

 	PRINCIPAL	

 	TOTAL	

1-Nov-23
1-May-24
1-Nov-24
1-May-25
1-Nov-25
1-May-26
1-Nov-26
1-May-27
1-Nov-27
1-May-28
1-Nov-28
1-May-29
1-Nov-29
1-May-30
1-Nov-30
1-May-31
1-Nov-31
1-May-32
1-Nov-32
1-May-33
1-Nov-33
1-May-34
1-Nov-34
1-May-35

$2,525,000.00
$2,525,000.00
$2,347,000.00
$2,347,000.00
$2,164,000.00
$2,164,000.00
$1,976,000.00
$1,976,000.00
$1,782,000.00
$1,782,000.00
$1,582,000.00
$1,582,000.00
$1,376,000.00
$1,376,000.00
$1,164,000.00
$1,164,000.00
$945,000.00
$945,000.00
$719,000.00
$719,000.00
$487,000.00
$487,000.00
$247,000.00
$247,000.00

3.000%
3.000%
3.000%
3.000%
3.000%
3.000%
3.000%
3.000%
3.000%
3.000%
3.000%
3.000%
3.000%
3.000%
3.000%
3.000%
3.000%
3.000%
3.000%
3.000%
3.000%
3.000%
3.000%
3.000%

$37,875.00
$37,875.00
$35,205.00
$35,205.00
$32,460.00
$32,460.00
$29,640.00
$29,640.00
$26,730.00
$26,730.00
$23,730.00
$23,730.00
$20,640.00
$20,640.00
$17,460.00
$17,460.00
$14,175.00
$14,175.00
$10,785.00
$10,785.00
$7,305.00
$7,305.00
$3,705.00
$3,705.00

$0.00
$178,000.00
$0.00
$183,000.00
$0.00
$188,000.00
$0.00
$194,000.00
$0.00
$200,000.00
$0.00
$206,000.00
$0.00
$212,000.00
$0.00
$219,000.00
$0.00
$226,000.00
$0.00
$232,000.00
$0.00
$240,000.00
$0.00
$247,000.00

$253,750.00

$253,410.00

$252,920.00

$253,280.00

$253,460.00

$253,460.00

$253,280.00

$253,920.00

$254,350.00

$253,570.00

$254,610.00

$254,410.00

Page 5

Total	$600,330.00	$2,697,000.00	$3,297,330.00

1-Nov-22	$2,697,000.00	3.000%	$40,455.00	$0.00
1-May-23	$2,697,000.00	3.000%	$40,455.00	$172,000.00	$252,910.00

Copper Oaks
Community Development District

Page 6

Description

No. of Units

General Fund

Debt Service

TOTAL

increase/(decrease) FY 2023

FY 2023

FY 2022

FY 2023

FY 2022

FY 2023

FY 2022

Single Family Multi Family

129
163

Gross
Per Unit	Total

Gross
Per Unit	Total

Gross
Per Unit	Total

Gross
Per Unit	Total

Gross
Per Unit	Total

Gross
Per Unit	Total

Gross
Per Unit	Total

$416.67	$53,751
$416.67	$67,917

$416.67	$53,751
$416.67	$67,917

$936.00    $120,744
$898.00    $146,374

$936.00    $120,744
$898.00    $146,374

$1,352.67    $174,495
$1,314.67    $214,291

$1,352.67    $174,495
$1,314.67    $214,291

$0	$0
$0	$0

Total Gross

292

$121,668

$121,668

$267,118

$267,118

$388,786

$388,786

$0

Less: Discount & Commission (6%)	$7,300

$7,300

$16,027

$16,027

$23,327

$23,327

$0

Total Net	$114,368

$114,368

$251,091

$251,091

$365,459

$365,459

$0

ASSESSMENT TABLE FY 2023 vs FY 2022