Centre Lake	
Community Development District	

Proposed Budget	
FY 2026	

Table of Contents

1-2		General Fund	

3-6	
	Narratives	

7	
	Debt Service Fund Series 2016	

8	
	Series 2016 Amortization Schedule	

9	
	Debt Service Fund Series 2021	

10	
	Series 2021 Amortization Schedule	

11	
	Assessment Schedule	

Centre Lake	
Community Development District	
Proposed Budget	
General Fund	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2025	3/31/25	6 Months	9/30/25	FY 2026	

REVENUES:

Special Assessments - On Roll	$682,321	$633,791	$48,531	$682,321	$682,321	
State Board Interest Income	20,000	19,476	27,267	46,743	28,000	
Party Rentals	2,500	1,540	2,156	3,696	2,500	
FOB - Access Cards	-	180	252	432	-	
Misc. Income	-	166	-	166	-	
Carry Forward Surplus	218,666	283,126	11,400	294,526	249,651	

TOTAL REVENUES	$923,488	$938,279	$89,605	$1,027,884	$962,473	

EXPENDITURES:

Administrative:						
Engineering	$15,000	$2,189	$7,500	$9,689	$15,000	
Attorney	25,000	3,930	3,930	7,860	25,000	
Annual Audit	6,200	6,200	-	6,200	6,300	
Assessment Roll	5,000	5,000	-	5,000	5,000	
Arbitrage Rebate	2,750	550	550	1,100	2,750	
Dissemination Agent	2,675	1,338	1,337	2,675	2,862	
Trustee Fees	6,500	6,500	-	6,500	6,500	
Management Fees	40,118	20,059	20,059	40,118	42,926	
Computer Time	1,200	600	600	1,200	1,200	
Website Maintenance	1,200	600	600	1,200	1,200	
Telephone	40	-	20	20	40	
Postage & Delivery	500	233	233	466	500	
Insurance General Liability	7,607	7,294	-	7,294	7,987	
Printing & Binding	600	4	300	304	600	
Legal Advertising	1,000	-	1,000	1,000	2,500	
Other Current Charges	600	141	300	441	600	
Office Supplies	90	-	45	45	90	
Dues, Licenses & Subscriptions	175	175	-	175	175	

TOTAL ADMINISTRATIVE	$116,255	$54,813	$36,474	$91,287	$121,230	
Operations & Maintenance						

Field Expenditures						
Field Management	$14,426	$7,213	$7,213	$14,426	$15,436	
Electric	9,000	4,057	4,057	8,114	9,000	
Water	3,000	-	1,500	1,500	3,000	
General Repairs	15,000	522	7,500	8,022	15,000	
Landscape Maintenance	65,000	24,050	33,300	57,350	65,000	
Plant Replacement	8,000	-	4,000	4,000	8,000	
Lake Maintenance	14,400	7,200	7,200	14,400	14,400	
Fountain Maintenance	7,200	3,000	4,200	7,200	7,200	
Midge Control	28,553	-	21,000	21,000	28,553	
Lake Debris Removal	2,000	-	1,000	1,000	2,000	
Holiday Decorations	11,500	11,500	-	11,500	11,500	

Centre Lake	
Community Development District	
Proposed Budget	
General Fund	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2025	3/31/25	6 Months	9/30/25	FY 2026	

Field Expenditures (continued)				-		
Sidewalk Maintenance	5,000	-	2,500	2,500	5,000	
Contingency	15,000	2,400	2,400	4,800	15,000	
Storm Drainage Maintenance	-	13,925	-	13,925	15,000	

TOTAL FIELD EXPENDITURES	$198,079	$73,867	$95,870	$169,737	$214,089	

Clubhouse Expenditures						
Management Fees	$220,600	$107,507	$107,507	$215,014	$235,000	
Janitorial Supplies	3,600	-	1,800	1,800	3,600	
Property Insurance	42,528	31,951	-	31,951	42,528	
Access Control	14,800	4,110	4,110	8,220	14,800	
Air Conditioning Maintenance	1,500	-	750	750	1,500	
Telephone	2,200	930	930	1,860	2,200	
Internet/Cable	4,800	2,042	2,042	4,084	4,800	
Electric	55,000	24,725	24,725	49,450	55,000	
Fire Alarm & Building Monitoring	2,400	-	1,200	1,200	2,400	
Refuse Services	9,400	6,027	6,027	12,053	11,000	
Water and Sewer	52,000	8,450	33,802	42,252	52,000	
Repairs and Maintenance	20,000	6,052	6,052	12,105	20,000	
Pool Maintenance	30,000	15,000	15,000	30,000	30,000	
Pool Repairs	20,000	10,482	10,482	20,963	20,000	
Landscape Maintenance	6,600	3,300	3,300	6,600	6,600	
Landscape Replacement	6,000	-	3,000	3,000	6,000	
Irrigation Repairs	2,400	-	1,200	1,200	2,400	
Fitness Equipment Maintenance	1,800	800	1,000	1,800	1,800	
Fitness Equipment Repair	8,000	2,921	2,921	5,842	8,000	
Pest Control	3,420	2,121	1,706	3,827	3,420	
Special Events	12,000	6,281	5,720	12,000	12,000	
Operating Supplies	8,000	5,718	2,282	8,000	10,000	
Contingencies	38,543	4,500	15,000	19,500	38,543	
Holiday Decoration	14,720	8,270	-	8,270	14,720	
Dues, Licenses & Subscription	1,000	-	1,000	1,000	1,000	
Reserves	27,843	-	14,467	14,467	27,842	

TOTAL AMENITY EXPENDITURES	$609,154	$251,186	$266,023	$517,209	$627,153	

TOTAL EXPENDITURES	$923,488	$379,866	$398,367	$778,233	$962,473	

EXCESS REVENUES (EXPENDITURES)	$-	$558,413	$(308,762)	$249,651	$(0)	

Centre Lake	
Community Development District	
Budget Narrative	

REVENUES	

Maintenance Assessments
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 operating accounts.	

Expenditures - Administrative	

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.	
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.	
Arbitrage Rebate
The District has contracted with its independent auditors to annually calculate the arbitrage rebate liability on its 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 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.	
Postage and Delivery
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.	

Centre Lake	
Community Development District	
Budget Narrative	

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 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.	

Expenditures – Field	

Field Management
The District has a contract with Governmental Management Services, South Florida, LLC for on-site management. The responsibilities include reviewing contracts and other maintenance related items.	
Electricity
FPL provides electricity for Common Area Lighting.	
Water
Water cost for the for common areas such as fountains and entrances.	
General Repairs
Includes maintenance and repair work that may come up during the Fiscal Year.	
Landscape Maintenance
Common area lawn maintenance. Includes grass cutting and edging, quarterly fertilization, bi-monthly pest control and weed control.	
Plant Replacement
The District will go into contract for the replacement of plants needed along the common areas.	
Lake Maintenance
Includes monthly Lake Management Services for the Lakes in the District.	
Fountain Maintenance
This is the estimated cost for the maintenance of the fountains within the district.	
Midge Control
The District will hire a company to provide midge management services.	

Lake Debris
Removal Includes monthly cleaning and debris removal of all CDD lakes.	
Holiday Decorations
The District will hire a company to decorate the common grounds for the holidays.	
Sidewalk Maintenance
This line item is the estimated cost for the maintenance of the sidewalks.	
Contingency
Any unscheduled repairs and maintenance that the District should incur during the fiscal year.	
Storm Drainage Maintenance
The district will contract a vendor to inspect, maintain and clean all drains within the district.	

Centre Lake	
Community Development District	
Budget Narrative	

Expenditures – Clubhouse	

Management Fees	
The District has contracted Miami Management Services to staff the Clubhouse and manage the day to day operations in accordance with their contract.	
Janitorial Supplies	
Includes additional janitorial and cleaning supplies needed to maintain the club.	
Insurance	
The District's property insurance is with Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.	
Access Control	
Includes camera monthly fee, also includes access cards and repairs.	
Air Conditioning Maintenance	
Estimated cost to maintain the air conditioning system.	
Telephone	
Cost of telephone lines for telephone, internet, fax and alarm systems.	
Cable and Internet	
Estimated cost of cable TV and internet for the Club with AT&T and Direct TV as needed.	
Electric	
FPL provides electricity for the club house.	
Fire Alarm & Building Monitoring	
Estimated cost of the fire alarm and building alarm monitoring services.	
Trash Collection/Refuse	
The cost of trash and recycling removal.	
Water & Sewer	
Water and sewer cost for the Club.	
Repairs/Maintenance	
Maintenance expenditures required to repair and maintain the Club.	
Pool Maintenance	
Cost to maintain the pool, does not include repairs.	
Pool Repairs	
Cost to make unanticipated repairs to the pool.	
Landscape Maintenance	
Maintaining the lawn and plants around the clubhouse area.	
Landscape Replacements	
Includes replacing plants and mulch around the clubhouse area.	
Irrigation Repairs	
Irrigation repairs within the clubhouse areas and irrigation system repair materials.	
Fitness Equipment Maintenance	
Estimated cost to maintain the circuit training equipment.	
Fitness Equipment Repairs	
Estimated cost to repair the circuit training equipment.	
Pest Control	
Preventative maintenance for bugs and rodents.	

Centre Lake	
Community Development District	
Budget Narrative	

Expenditures – Clubhouse (continued)	
Special Events	
Expenses related to Social Events hosted for residients.	
Operating Supplies	
Supplies needed to operate day to day funtions for the Club and Club Office.	
Contingency	
Any unscheduled repairs and maintenance that the District should incur during the fiscal year	
Holiday Decorations	
The District will hire a company to decorate the clubhouse for the holidays	
Dues, Licenses & Subscriptions	
The club is required to renew pool permits and licenses annually.	
Reserves	
Any future unforeseen expenditures the clubhouse the Clubhouse will encounter during the fiscal year.	

Centre Lake	
Community Development District	
Proposed Budget	
Debt Service Series 2016 Special Assessment Revenue Refunding Bonds	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description

REVENUES:	FY2025	3/31/25	6 Months	9/30/25	FY 2026	
Special Assessments-On Roll	$676,618	$628,493	$48,125	$676,618	$676,618	
Interest Earnings	15,000	23,237	23,237	46,475	15,000	
Carry Forward Surplus (1)	636,443	636,596	-	636,596	691,272	

TOTAL REVENUES	$1,328,061	$1,288,327	$71,362	$1,359,689	$1,382,890	

EXPENDITURES:

Interest - 12/15	$216,684	$216,684	$-	$216,684	$211,734	
Principal - 12/15	240,000	240,000	-	240,000	250,000	
Interest - 06/15	211,734	-	211,734	211,734	206,578	

TOTAL EXPENDITURES	$668,418	$456,684	$211,734	$668,418	$668,311	

TOTAL EXPENDITURES	$668,418	$456,684	$211,734	$668,418	$668,311	

EXCESS REVENUES (EXPENDITURES)	$659,644	$831,643	$(140,371)	$691,272	$714,579	

Interest Due 12/15/2026	$206,577.50	
Principal Due 12/15/2026	$260,000.00	
	$466,577.50	

(1) Carry Forward is Net of Reserve Requirement

Centre Lake	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2016	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

12/15/25	9,120,000	4.125%	250,000	$211,733.75	673,467.50	
06/15/26	8,870,000	4.125%	-	$206,577.50		
12/15/26	8,870,000	4.125%	260,000	$206,577.50	673,155.00	
06/15/27	8,610,000	4.125%	-	$201,215.00		
12/15/27	8,610,000	4.125%	270,000	$201,215.00	672,430.00	
06/15/28	8,340,000	4.500%	-	$195,646.25		
12/15/28	8,340,000	4.500%	285,000	$195,646.25	676,292.50	
06/15/29	8,055,000	4.500%	-	$189,233.75		
12/15/29	8,055,000	4.500%	295,000	$189,233.75	673,467.50	
06/15/30	7,760,000	4.500%	-	$182,596.25		
12/15/30	7,760,000	4.500%	310,000	$182,596.25	675,192.50	
06/15/31	7,450,000	4.500%	-	$175,621.25		
12/15/31	7,450,000	4.500%	325,000	$175,621.25	676,242.50	
06/15/32	7,125,000	4.500%	-	$168,308.75		
12/15/32	7,125,000	4.500%	340,000	$168,308.75	676,617.50	
06/15/33	6,785,000	4.700%	-	$160,658.75		
12/15/33	6,785,000	4.700%	355,000	$160,658.75	676,317.50	
06/15/34	6,430,000	4.700%	-	$152,316.25		
12/15/34	6,430,000	4.700%	370,000	$152,316.25	674,632.50	
06/15/35	6,060,000	4.700%	-	$143,621.25		
12/15/35	6,060,000	4.700%	385,000	$143,621.25	672,242.50	
06/15/36	5,675,000	4.700%	-	$134,573.75		
12/15/36	5,675,000	4.700%	405,000	$134,573.75	674,147.50	
06/15/37	5,270,000	4.700%	-	$125,056.25		
12/15/37	5,270,000	4.700%	425,000	$125,056.25	675,112.50	
06/15/38	4,845,000	4.750%	-	$115,068.75		
12/15/38	4,845,000	4.750%	445,000	$115,068.75	675,137.50	
06/15/39	4,400,000	4.750%	-	$104,500.00		
12/15/39	4,400,000	4.750%	465,000	$104,500.00	674,000.00	
06/15/40	3,935,000	4.750%	-	$93,456.25		
12/15/40	3,935,000	4.750%	485,000	$93,456.25	671,912.50	
06/15/41	3,450,000	4.750%	-	$81,937.50		
12/15/41	3,450,000	4.750%	510,000	$81,937.50	673,875.00	
06/15/42	2,940,000	4.750%	-	$69,825.00		
12/15/42	2,940,000	4.750%	535,000	$69,825.00	674,650.00	
06/15/43	2,405,000	4.750%	-	$57,118.75		
12/15/43	2,405,000	4.750%	560,000	$57,118.75	674,237.50	
06/15/44	1,845,000	4.750%	-	$43,818.75		
12/15/44	1,845,000	4.750%	585,000	$43,818.75	672,637.50	
06/15/45	1,260,000	4.750%	-	$29,925.00		
12/15/45	1,260,000	4.750%	615,000	$29,925.00	674,850.00	
06/15/46	645,000	4.750%	-	$15,318.75		
12/15/46	645,000	4.750%	645,000	$15,318.75	675,637.50	

TOTAL	$9,120,000	$5,504,521	$14,836,255	

Centre Lake	
Community Development District	
Proposed Budget	
Debt Service Series 2021 Special Assessment Revenue Refunding Bonds	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description

REVENUES:	FY2025	3/31/25	6 Months	9/30/25	FY 2026	
Special Assessments-On Roll	$554,100	$514,689	$39,411	$554,100	$554,100	
Interest Earnings	8,000	7,881	7,881	15,761	8,000	
Carry Forward Surplus (1)	212,319	211,942	-	211,942	229,079	

TOTAL REVENUES	$774,419	$734,512	$47,291	$781,804	$791,179	

EXPENDITURES:

Interest - 11/1	$166,363	$166,363	$-	$166,363	$163,338	
Interest - 5/1	166,363	-	166,363	166,363	163,338	
Principal - 5/1	220,000	-	220,000	220,000	230,000	

TOTAL EXPENDITURES	$552,725	$166,363	$386,363	$552,725	$556,675	

TOTAL EXPENDITURES	$552,725	$166,363	$386,363	$552,725	$556,675	

EXCESS REVENUES (EXPENDITURES)	$221,694	$568,150	$(339,071)	$229,079	$234,504	

Interest Due 11/1/2026	$160,175	

(1) Carry Forward is Net of Reserve Requirement

Centre Lake	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2016	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	
11/01/25	9,495,000	2.750%	-	$163,337.50	549,700.00	
05/01/26	9,495,000	2.750%	230,000	$163,337.50		
11/01/26	9,265,000	2.750%	-	$160,175.00	553,512.50	
05/01/27	9,265,000	2.750%	235,000	$160,175.00		
11/01/27	9,030,000	2.750%	-	$156,943.75	552,118.75	
05/01/28	9,030,000	2.750%	240,000	$156,943.75		
11/01/28	8,790,000	2.750%	-	$153,643.75	550,587.50	
05/01/29	8,790,000	2.750%	250,000	$153,643.75		
11/01/29	8,540,000	2.750%	-	$150,206.25	553,850.00	
05/01/30	8,540,000	2.750%	255,000	$150,206.25		
11/01/30	8,285,000	2.750%	-	$146,700.00	551,906.25	
05/01/31	8,285,000	2.750%	260,000	$146,700.00		
11/01/31	8,025,000	2.750%	-	$143,125.00	549,825.00	
05/01/32	8,025,000	3.000%	270,000	$143,125.00		
11/01/32	7,755,000	3.000%		$139,075.00	552,200.00	
05/01/33	7,755,000	3.000%	280,000	$139,075.00		
11/01/33	7,475,000	3.000%	-	$134,875.00	553,950.00	
05/01/34	7,475,000	3.000%	285,000	$134,875.00		
11/01/34	7,190,000	3.000%	-	$130,600.00	550,475.00	
05/01/35	7,190,000	3.000%	295,000	$130,600.00		
11/01/35	6,895,000	3.000%	-	$126,175.00	551,775.00	
05/01/36	6,895,000	3.000%	305,000	$126,175.00		
11/01/36	6,590,000	3.000%	-	$121,600.00	552,775.00	
05/01/37	6,590,000	3.000%	315,000	$121,600.00		
11/01/37	6,275,000	3.000%	-	$116,875.00	553,475.00	
05/01/38	6,275,000	3.000%	325,000	$116,875.00		
11/01/38	5,950,000	3.000%	-	$112,000.00	553,875.00	
05/01/39	5,950,000	3.000%	335,000	$112,000.00		
11/01/39	5,615,000	3.000%	-	$106,975.00	553,975.00	
05/01/40	5,615,000	3.000%	345,000	$106,975.00		
11/01/40	5,270,000	3.000%	-	$101,800.00	553,775.00	
05/01/41	5,270,000	3.000%	355,000	$101,800.00		
11/01/41	4,915,000	3.000%	-	$96,475.00	553,275.00	
05/01/42	4,915,000	3.000%	365,000	$96,475.00		
11/01/42	4,550,000	3.000%	-	$91,000.00	552,475.00	
05/01/43	4,550,000	4.000%	375,000	$91,000.00		
11/01/43	4,175,000	4.000%	-	$83,500.00	549,500.00	
05/01/44	4,175,000	4.000%	395,000	$83,500.00		
11/01/44	3,780,000	4.000%	-	$75,600.00	554,100.00	
05/01/45	3,780,000	4.000%	410,000	$75,600.00		
11/01/45	3,370,000	4.000%	-	$67,400.00	553,000.00	
05/01/46	3,370,000	4.000%	425,000	$67,400.00		
11/01/46	2,945,000	4.000%	-	$58,900.00	551,300.00	
05/01/47	2,945,000	4.000%	445,000	$58,900.00		
11/01/47	2,500,000	4.000%	-	$50,000.00	553,900.00	
05/01/48	2,500,000	4.000%	460,000	$50,000.00		
11/01/48	2,040,000	4.000%	-	$40,800.00	550,800.00	
05/01/49	2,040,000	4.000%	480,000	$40,800.00		
11/01/49	1,560,000	4.000%	-	$31,200.00	552,000.00	
05/01/50	1,560,000	4.000%	500,000	$31,200.00		
11/01/50	1,060,000	4.000%	-	$21,200.00	552,400.00	
05/01/51	1,060,000	4.000%	520,000	$21,200.00		
11/01/51	540,000	4.000%	-	$10,800.00	552,000.00	
05/01/52	540,000	4.000%	540,000	$10,800.00		
TOTAL			$9,495,000	$5,581,963	$14,912,525	

Centre Lake	
Community Development District	
Non-Ad Valorem Assessments Comparison
2025-2026	

Product Type	O&M Units	Bonds Units	Annual Maintenance Assessments	Annual Debt Assessments	Total Assessed Per Unit	
	FY 2026	FY 2025	Increase	FY 2026	FY 2025	Increase	FY 2026	FY 2025	Increase	
			Admin & Field	Clubhouse	Total	Admin & Field	Clubhouse	Total		Series 2016	Series 2021	Series 2016	Series 2021					
Single Family	256	256	$526.32	$963.79	$1,490.11	$526.32	$963.79	$1,490.11	$0.00	$1,767.76	$1,210.09	$1,767.76	$1,210.09	$0.00	$4,467.96	$4,467.96	$0.00	
Townhomes	226	226	$526.32	$963.79	$1,490.11	$526.32	$963.79	$1,490.11	$0.00	$1,149.04	$1,210.09	$1,149.04	$1,210.09	$0.00	$3,849.24	$3,849.24	$0.00	
Total	482	482											

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