Poinciana West
Community Development District

Adopted Budget
FY2026

Table of Contents

1		General Fund	

2-5	
	General Fund Narrative	

6	
	Fund Balance Analysis	

7	
	Debt Service Fund Series 2017-1 & 2	

8	
	Amortization Schedule Series 2017 -1	

9	
	Amortization Schedule Series 2017-2	

10	
	Assessment Schedule	

Poinciana West
Community Development District
Proposed Budget General Fund

Actuals Thru  Actuals Thru	Adopted	Actuals Thru  Projected Next Projected Thru	Adopted
Budget	Budget	
	9/30/23	9/30/24	FY2025	5/31/25	4 Months	9/30/25	FY 2026	

Revenues								
Special Assessments - Tax Collector	$	293,698	$	295,613	$	291,299	$	291,704	$	-	$	291,704	$	291,295	
Property Conveyance Fees	15,000	37,900	-	-	-	-	-	
Interest	11,505	1,689	20,000	20,758	7,000	27,758	15,000	
Miscellaneous Revenue	314	200	-	3,857	-	3,857	-	
Carry Forward Balance	16,206	-	32,549	-	46,242	46,242	61,123	
Total Revenues	$  336,723	$  335,402	$  343,848	$  316,319	$	53,242  $	369,561	$  367,418	

Expenditures								
Administrative								
Supervisors Fees	$	2,200	$	3,600	$	6,000	$	1,800	$	400  $	2,200	$	6,000	
FICA Expense	168	275	459	138	31	169	459	
Engineering	5,565	3,202	15,000	2,763	2,500	5,263	15,000	
Attorney	9,270	12,957	20,000	12,362	6,181	18,543	25,000	
Attorney - Pond Damage	6,200	-	-	6,250	2,500	8,750	-	
Arbitrage	450	450	450	450	-	450	450	
Dissemination	3,750	3,500	3,675	2,450	1,225	3,675	3,785	
Annual Audit	3,425	3,650	3,800	3,400	-	3,400	3,500	
Trustee Fees	4,256	4,256	4,256	4,256	-	4,256	4,256	
Assessment Administration	5,000	5,000	5,250	5,250	-	5,250	5,250	
Management Fees	40,000	41,200	43,260	28,840	14,420	43,260	44,558	
Information Technology	1,238	1,238	1,300	867	433	1,300	1,339	
Website Maintenance	825	825	867	578	289	867	893	
Postage	666	795	750	829	415	1,244	1,000	
Printing & Binding	581	122	800	143	72	215	500	
Insurance	3,650	5,200	5,500	5,200	-	5,200	5,500	
Legal Advertising	2,932	1,760	2,500	873	1,500	2,373	2,500	
Other Current Charges	837	4,462	2,400	1,323	662	1,985	2,400	
Office Supplies	38	64	200	35	80	115	200	
Property Appraiser	3,099	3,099	3,100	-	3,100	3,100	3,100	
Dues, Licenses & Subscriptions	175	175	175	175	-	175	175	
Total Administrative	$	94,325	$	95,830	$  119,742	$	77,982	$	33,806  $	111,788	$  125,865	

Operations & Maintenance								
Field Services	$	10,300	$	10,609	$	11,140	$	7,427	3,714  $	11,141	$	11,474	
Landscape Maintenance	59,070	65,188	68,449	44,304	22,152	66,456	69,476	
Aquatic Control Maintenance	59,897	67,194	69,210	46,588	23,294	69,882	72,677	
Aquatic Midge Maintenance	26,270	26,512	27,307	18,205	9,103	27,308	28,946	
R&M Plant Replacement	-	-	3,000	-	1,500	1,500	3,000	
Storm Structure Repairs	-	-	10,000	-	3,630	3,630	10,000	
Contingency	-	395	20,000	529	10,000	10,529	30,980	
Capital Outlay	-	-	15,000	6,205	-	6,205	15,000	
Total Operations & Maintenance	$  155,537	$  169,898	$  224,106	$  123,258	$	73,392  $	196,650	$  241,553	
								
Total Expenditures	$  249,862	$  265,728	$  343,848	$  201,240	$  107,198  $	308,438	$  367,418	
								
Excess Revenues/(Expenditures)	$	86,861	$	69,674	$	-	$	115,079	$	(53,956) $	61,123	$	-	

Net Assessments	
$	291,295	
Collection Cost (6%)	18,593	
Gross Assessments	$	309,889	

Property Type	Platted Units	Gross Per Unit	Gross Total	
Single Family	1650	$186.57	$307,836	
Recreational	11	$186.57	$2,052	
	1661		$309,889	

Poinciana West
Community Development District
General Fund Budget

Revenues:

Special Assessments – Tax Collector

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

Interest

The District earns interest income on their operating accounts and other investments.

Expenditures:

Administrative:

Supervisors 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. The amount is based on 5 supervisors attending 6 meetings during the fiscal year.

FICA Expense

Represents the Employer’s share of Social Security and Medicare taxes withheld from Board of Supervisor checks.

Engineering

The District's engineer, Rayl Engineering & Surveying, LLC., will be providing general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review of invoices and requisitions, preparation and review of contract specifications and bid documents, and various projects assigned as directed by the Board of Supervisors and the District Manager.

Attorney

The District's legal counsel, Clark & Albaugh, LLP, will be providing general legal services to the District,
e.g. attendance and preparation for monthly meetings, preparation and review of agreements and resolutions, and other research assigned as directed by the Board of Supervisors and the District Manager.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on the Series 2017 R1 & R2 Special Assessment Refunding Bonds. The District has contracted with AMTEC for this service.

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.

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis. The District has contracted with Berger, Toombs, Elam, Gaines & Frank for this service.

Trustee Fees

The District will pay annual trustee fees for the Series 2017 R-1 & R-2 Special Assessment Refunding Bonds that are deposited with a Trustee at USBank.

Assessment Administration

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

Management Fees

The District has contracted with Governmental Management Services-Central Florida, LLC to provide Management, Accounting and Recording Secretary Services for the District. The services include, but not limited to, recording and transcription of board meetings, budget preparation, all financial reporting, annual audit, etc.

Information Technology

Represents various cost of information technology for the District such as video conferencing, cloud storage and servers, accounting software, tablets for meetings, Adobe, Microsoft Office, 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. Governmental Management Services – Central Florida, LLC provides these services.

Telephone

Telephone and fax machine.

Postage

The District incurs charges for mailing of agenda packages, overnight deliveries, checks for vendors and other required correspondence.

Printing & Binding

Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc.

Insurance

The District’s general liability and public officials liability insurance coverage is provided by Public Risk Insurance. Public Risk Insurance specializes in providing insurance coverage to governmental agencies.

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

Represents any miscellaneous expenses incurred during the fiscal year such as bank fees, deposit slips, stop payments, etc.

Office Supplies

The District incurs charges for office supplies that need to be purchased during the fiscal year.

Property Appraiser

Represents a fee charged by Polk County Property Appraiser’s office for assessment administration services.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the FloridaCommerce for $175. This is the only expense under this category for the District.

Operations & Maintenance:

Field Services

Governmental Management Services – Central Florida, LLC provides 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

The District maintains the lake bank maintenance that include mowing of no less than once every 7 days during the months of April 1st to October 31st and no less than once every 14 days from November 1st to March 31st. The District has contracted with Floralawn 2, LLC for this service.

Description	Monthly	Annual	
Landscape Maintenance	$5,537.94	$66,455	
3% Increase		$1,994	
Total		$68,449	

Aquatic Control Maintenance

Represents cost for maintenance to the ponds located within the District. Services include, but are not limited to, treatment removal and offsite disposal of nuisance vegetation and algae treatment. The District has contracted with Solitude Lake Management for these services.

Description	Monthly	Annual	
Aquatic Maintenance	$5,823.50	$69,882	
4% Increase		$2,795	
Total		$72,677	

Aquatic Midge Management

Represents costs for aquatic midge control (blind mosquitoes, weekly ATV aerosol & monthly aerial larvicide.)

Description	Monthly	Annual	
Aquatic Midge Control	$2,275.60	$27,307	
6% Increase		$1,638	
Total		$28,946	

R&M – Plant Replacement

Represents estimated cost for the replacement of aquatic plants and tree replacement around the ponds.

Storm Structure Repairs

Represents estimated repair and maintenance cost to the storm structures maintained by the District.

Contingency

Represents any additional field expense that may not have been provided for in the budget.

Capital Outlay

Represents estimated cost for any capital related projects.

Projected Fund Balance Analysis

FY 2023 Ending Fund Balance
Actual Beginning Fund Balance	
$	656,390	
Plus: projected excess revenue	 $	83,223 	
Projected Ending Fund Balance	 $	739,613 	
FY 2024 Estimated Ending Fund Balance
Actual Beginning Fund Balance	
$	727,015	
Less: cash to balance budget
Plus: projected excess revenue	
 $	69,674 	
Projected Ending Fund Balance	 $	796,689 	
FY 2025 Estimated Ending Fund Balance
Actual Beginning Fund Balance	
$	796,508	
Less: cash to balance budget
Plus: projected excess revenue	
 $	61,123 	
Projected Ending Fund Balance	 $	857,631 	
FY 2026 Estimated Reserves (Ending Fund Balance)
Operating Reserve (3 months)	
$	91,855	
Unreserved Fund Balance	 $	765,776 	
	 $	857,631 	

Proposed Budget
Debt Service Fund Series 2017 A-1 & A-2

Adopted Budget	Actuals Thru	Projected Next	Projected Thru Adopted Budget	
	FY2025	5/31/25		4 Months		9/30/25	FY 2026	

Revenues						
Assessments - Tax Collector	$	1,040,361	$	1,039,218	$	1,143	$	1,040,361	$	1,040,361	
Assessments - Prepayments	-	5,762	-	5,762	-	
Interest	-	23,579	1,500	25,079	-	
Carry Forward Surplus	338,409	350,114	-	350,114	295,448	
Total Revenues	$ 1,378,770	$ 1,418,673	$	2,643	$ 1,421,316	$ 1,335,809	

Expenditures						
Administrative						
Property Appraiser	$	11,200	$	-	$	11,068	$	11,068	$	11,200	
Series 2017 -1						
Interest - 11/1	157,071	157,071	-	157,071	148,427	
Special Call - 11/1	-	10,000	-	10,000	-	
Principal - 5/1	465,000	465,000	-	465,000	480,000	
Interest - 5/1	157,071	156,863	-	156,863	148,427	
Special Call - 5/1	-	15,000	-	15,000	-	
Series 2017 -2						
Interest - 11/1	55,504	55,504	-	55,504	50,032	
Special Call -11/1	-	5,000	-	5,000	-	
Principal - 5/1	110,000	110,000	-	110,000	110,000	
Interest - 5/1	55,504	55,362	-	55,362	50,032	
Special Call -11/1	-	85,000	-	85,000	-	
Total Expenditures	$ 1,011,350	$ 1,114,800	$	11,068	$ 1,125,868	$	998,118	
						
Excess Revenues/(Expenditures)	$	367,420	$	303,873	$	(8,425)	$	295,448	$	337,691	

	Series 2017 R-1		
Interest - 11/1/26	139,787	

	Series 2017 R-2		
		Interest - 11/1/25	47,076	
		
Net Assessments	
$	1,040,361	
		Collection Cost (6%)	66,406	
		Gross Assessments	$	1,106,767	
				
Property Type	Platted Units	Gross Per Unit	Gross Total	
Single Family	1601	$686.58	$1,099,215	
Recreational	11	$686.58	$7,552	
	1612		$1,106,767	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

05/01/24	
$	
8,175,000	
3.250%	
$	
460,000	
$	
164,584	
$	
-	
11/01/24	7,715,000	3.250%	10,000	157,071	791,655	
05/01/25	7,705,000	3.500%	480,000	156,827		
11/01/25	7,225,000	3.500%	-	148,427	785,254	
05/01/26	7,225,000	3.600%	480,000	148,427		
11/01/26	6,745,000	3.600%	-	139,787	768,214	
05/01/27	6,745,000	3.700%	495,000	139,787		
11/01/27	6,250,000	3.700%	-	130,629	765,416	
05/01/28	6,250,000	3.750%	515,000	130,629		
11/01/28	5,735,000	3.750%	-	120,973	766,603	
05/01/29	5,735,000	4.000%	535,000	120,973		
11/01/29	5,200,000	4.000%	-	110,273	766,246	
05/01/30	5,200,000	4.125%	560,000	110,273		
11/01/30	4,640,000	4.125%	-	98,723	768,996	
05/01/31	4,640,000	4.125%	580,000	98,723		
11/01/31	4,060,000	4.125%	-	86,761	765,484	
05/01/32	4,060,000	4.125%	605,000	86,761		
11/01/32	3,455,000	4.125%	-	74,283	766,043	
05/01/33	3,455,000	4.300%	635,000	74,283		
11/01/33	2,820,000	4.300%	-	60,630	769,913	
05/01/34	2,820,000	4.300%	660,000	60,630		
11/01/34	2,160,000	4.300%	-	46,440	767,070	
05/01/35	2,160,000	4.300%	690,000	46,440		
11/01/35	1,470,000	4.300%	-	31,605	768,045	
05/01/36	1,470,000	4.300%	720,000	31,605		
11/01/36	750,000	4.300%	-	16,125	767,730	
05/01/37	750,000	4.300%	750,000	16,125	766,125	
TOTAL	$	8,175,000	$	2,607,793	$	10,782,793	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

05/01/24	
$	
2,095,000	
5.375%	
$	
105,000	
$	
58,334	
$	
-	
11/01/24	1,990,000	5.375%	5,000	55,504	223,839	
05/01/25	1,985,000	5.375%	195,000	55,273		
11/01/25	1,790,000	5.375%	-	50,032	300,304	
05/01/26	1,790,000	5.375%	110,000	50,032		
11/01/26	1,680,000	5.375%	-	47,076	207,108	
05/01/27	1,680,000	5.375%	115,000	47,076		
11/01/27	1,565,000	5.375%	-	43,985	206,061	
05/01/28	1,565,000	5.375%	120,000	43,985		
11/01/28	1,445,000	5.375%	-	40,760	204,745	
05/01/29	1,445,000	5.375%	125,000	40,760		
11/01/29	1,320,000	5.375%	-	37,401	203,161	
05/01/30	1,320,000	5.375%	135,000	37,401		
11/01/30	1,185,000	5.375%	-	33,773	206,173	
05/01/31	1,185,000	5.700%	140,000	33,773		
11/01/31	1,045,000	5.700%	-	29,783	203,555	
05/01/32	1,045,000	5.700%	150,000	29,783		
11/01/32	895,000	5.700%	-	25,508	205,290	
05/01/33	895,000	5.700%	160,000	25,508		
11/01/33	735,000	5.700%	-	20,948	206,455	
05/01/34	735,000	5.700%	170,000	20,948		
11/01/34	565,000	5.700%	-	16,103	207,050	
05/01/35	565,000	5.700%	175,000	16,103		
11/01/35	390,000	5.700%	-	11,115	202,218	
05/01/36	390,000	5.700%	190,000	11,115		
11/01/36	200,000	5.700%	-	5,700	206,815	
05/01/37	200,000	5.700%	200,000	5,700	205,700	
TOTAL	$	2,095,000	$	893,473	$	2,988,473	

Poinciana West
Community Development District
Non-Ad Valorem Assessments Comparison 2025-2026

Neighborhood	
O&M Units	Bonds Units 2017	
Annual Maintenance Assessments	
Annual Debt Assessments	
Total Assessed Per Unit	
	FY 2026	FY 2025	Variance	FY 2026	FY 2025	Variance	FY 2026	FY 2025	Variance	

Single Family	

1650	

1601	

$186.57	

$186.57	

$0.00	

$686.58	

$686.58	

$0.00	

$873.15	

$873.15	

$0.00	
Recreational	11	11	$186.57	$186.57	$0.00	$686.58	$686.58	$0.00	$873.15	$873.15	$0.00	
Total	1661	1612