Poinciana West
Community Development District

Proposed Budget
FY 2027

Table of Contents

1		General Fund	

2-3	
	General Fund Narrative	

4	
	Fund Balance Analysis	

5	
	Debt Service Fund Series 2017-1 & 2	

6	
	Amortization Schedule Series 2017 -1	

7	
	Amortization Schedule Series 2017-2	

8	
	Assessment Schedule	

Poinciana West
Community Development District
Proposed Budget General Fund

Actuals Thru  Actuals Thru	Adopted	Actuals Thru  Projected Next Projected Thru  Proposed
Budget	Budget	
	9/30/24	9/30/25	FY2026	2/28/26	7 Months	9/30/26	FY 2027	

Revenues								
Special Assessments - Tax Collector	$	295,613	$	293,466	$	291,295	$	278,413	$	12,882	$	291,295	$	291,295	
Property Conveyance Fees	37,900	33,404	-	-	-	-	-	
Interest	1,689	3,735	15,000	12,893	25,325	38,218	15,000	
Miscellaneous Revenue	200	-	-	26,158	-	26,158	-	
Carry Forward Balance	-	-	61,123	-	-	-	61,087	
Total Revenues	$  335,402	$  330,605	$  367,418	$  317,464	$	38,207	$  355,671	$  367,382	

Expenditures								
Administrative								
Supervisors Fees	$	3,600	$	3,800	$	6,000	$	1,000	$	3,000	$	4,000	$	6,000	
FICA Expense	275	291	459	77	230	306	459	
Engineering	3,202	1,938	15,000	-	5,000	5,000	15,000	
Engineering - Pond Damange	-	2,500	-	260	-	260	-	
Attorney	12,957	19,629	25,000	2,470	8,233	10,703	20,000	
Attorney - Pond Damage	-	7,420	-	-	-	-	-	
Arbitrage	450	450	450	-	450	450	450	
Dissemination	3,500	3,675	3,785	1,577	2,208	3,785	3,975	
Annual Audit	3,650	3,400	3,500	-	3,500	3,500	3,600	
Trustee Fees	4,256	4,256	4,256	-	4,256	4,256	4,256	
Assessment Administration	5,000	5,250	5,250	5,250	-	5,250	5,513	
Management Fees	41,200	43,260	44,558	18,566	25,992	44,558	46,786	
Information Technology	1,238	1,300	1,339	558	781	1,339	1,406	
Website Maintenance	825	867	893	372	521	893	937	
Postage	795	829	1,000	711	1,170	1,881	2,000	
Printing & Binding	122	143	500	3	150	153	250	
Insurance	5,200	5,200	5,500	5,512	-	5,512	6,500	
Legal Advertising	1,760	1,649	2,500	-	1,500	1,500	2,500	
Other Current Charges	4,462	2,092	2,400	1,151	1,611	2,762	3,000	
Office Supplies	64	35	200	-	75	75	100	
Property Appraiser	3,099	-	3,100	3,099	-	3,099	3,100	
Dues, Licenses & Subscriptions	175	175	175	175	-	175	175	
Total Administrative	$	95,830	$  108,158	$  125,865	$	40,781	$	58,677	$	99,458	$  126,006	

Operations & Maintenance								
Field Services	$	10,609	$	11,140	$	11,474	$	4,781	$	6,693	$	11,474	$	12,048	
Landscape Maintenance	65,188	66,455	69,476	28,108	39,351	67,459	69,476	
Aquatic Control Maintenance	67,194	69,882	72,677	30,281	42,393	72,674	77,038	
Aquatic Midge Maintenance	26,512	27,307	28,946	12,061	16,885	28,946	29,814	
R&M Plant Replacement	-	-	3,000	-	3,000	3,000	3,000	
Storm Structure Repairs	-	-	10,000	-	3,630	3,630	10,000	
Contingency	395	13,483	30,980	442	7,500	7,942	25,000	
Capital Outlay	-	6,205	15,000	-	-	-	15,000	
Total Operations & Maintenance	$  169,898	$  194,472	$  241,553	$	75,673	$  119,453	$  195,126	$  241,375	
								
Total Expenditures	$  265,728	$  302,630	$  367,418	$  116,454	$  178,130	$  294,584	$  367,382	
								
Excess Revenues/(Expenditures)	$	69,674	$	27,975	$	-	$	201,011	$  (139,923)	$	61,087	$	-	

Net Assessments	
$	291,295	
Collection Cost (6%)	18,593	
Gross Assessments	$	309,888	

Property Type	Platted Units	Gross Per Unit	Gross Total	
Single Family	1650	$186.57	$307,836	
Recreational	11	$186.57	$2,052	
	1661		$309,888	

REVENUES

Special Assessments- On Roll
The District will levy a Non-Ad Valorem assessment on platted parcels within the District in order to pay for the operating expenditures during the Fiscal Year.
Interest Income
The District will have all excess funds invested. The amount is based open the estimated average balance of funds available during the fiscal year.
Misc. Income
Any other income that is not mentioned above.

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 5 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, Dewberry Engieers, Inc., 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.
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 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.

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.
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 with Grau and Associates plus anticipated increase.
Assessment Administration - Admin
GMS CF, LLC provides assessment services for closing lot sales, assessment roll services with the local Tax Collector and financial advisory services.
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.
Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-Central Florida, LLC. The budgeted amount for the fiscal year is based on the contracted fees outlined in Exhibit "A" of the Management Agreement.

Expenditures - Administrative (continued)

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-CF, LLC and updated monthly.
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.

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.
Due, Licenses & Subscriptions
The District is required to pay an annual fee to the Department of Economic Opportunity Community Affairs for $175.

Expenditures – Field

Field Management 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	$5,789.65	69,476	
Aquatic Control Maintenance
Represents costs for aquatic midge control (blind mosquitoes, weekly ATV aerosol & monthly aerial larvicide.) The District has contracted with Clarke Environmental for this service. FY2027 includes a 3% increase.
Description	Monthly	Annual	
Aquatic Control Maintenance	$6,419.80	77,038	
Aquatic Midge Management

Description	Monthly	Annual	
Aquatic Midge Mgmt	$2,484.53	29,814	
Storm Structure Repairs
Represents estimated repair and maintenance cost to the storm structures maintained by the District.
R&M - Plant Replacement
Represents estimated cost for the replacement of aquatic plants and tree replacement around the ponds.
Capital Outlay
Represents estimated costs 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 Ending Fund Balance
Actual Beginning Fund Balance	
$	727,015	
Plus: projected excess revenue	 $	69,781 	
Projected Ending Fund Balance	 $	796,796 	
FY 2025 Ending Fund Balance
Actual Beginning Fund Balance	
$	785,128	
Plus: projected excess revenue	 $	-		
Projected Ending Fund Balance	 $	785,128 	
FY 2026Ending Fund Balance
Actual Beginning Fund Balance	
$	808,899	
Plus: projected excess revenue	 $	-		
Projected Ending Fund Balance	 $	808,899 	
FY 2027 Estimated Reserves (Ending Fund Balance)
Operating Reserve (3 months)	
$	(72,824)	
Unreserved Fund Balance	 $	808,899 	
	 $	736,075 	

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

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed
Budget	
	FY2026	2/28/26		7 Months		9/30/26	FY 2027	

Revenues						
Assessments - Tax Collector	$	1,040,361	$	982,714	$	57,647	$	1,040,361	$	1,040,361	
Assessments - Prepayments	-	10,774	-	10,774	-	
Interest	-	9,909	1,500	11,409	-	
Carry Forward Surplus	295,448	331,836	-	331,836	371,977	
Total Revenues	$ 1,335,809	$ 1,335,233	$	59,147	$ 1,394,380	$ 1,412,338	

Expenditures						
Administrative						
Property Appraiser	$	11,200	$	11,054	$	-	$	11,054	$	11,200	
Series 2017 -1						
Interest - 11/1	148,427	148,427	-	148,427	139,361	
Special Call - 11/1	-	20,000	-	20,000	-	
Principal - 5/1	480,000	-	480,000	480,000	495,000	
Interest - 5/1	148,427	-	148,001	148,001	139,361	
Special Call - 5/1	-	-	-	-	-	
Series 2017 -2						
Interest - 11/1	50,032	50,032	-	50,032	46,933	
Special Call -11/1	-	5,000	-	5,000	-	
Principal - 5/1	110,000	-	110,000	110,000	115,000	
Interest - 5/1	50,032	-	49,889	49,889	46,933	
Special Call -11/1	-	-	-	-	-	
Total Expenditures	$	998,118	$	234,513	$	787,891	$ 1,022,403	$	993,789	
						
Excess Revenues/(Expenditures)	$	337,691	$ 1,100,720	$	(728,744)	$	371,977	$	418,549	

	Series 2017 R-1		
Interest - 11/1/27	130,204	

	Series 2017 R-2		
		Interest - 11/1/27	43,843	
		
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	

05/01/26	
7,205,000	
3.600%	
480,000	
148,001		
11/01/26	6,725,000	3.600%		-	139,361	767,363	
05/01/27	6,725,000	3.700%	495,000	139,361		
11/01/27	6,230,000	3.700%		-	130,204	764,565	
05/01/28	6,230,000	3.750%	515,000	130,204		
11/01/28	5,715,000	3.750%		-	120,548	765,751	
05/01/29	5,715,000	4.000%	535,000	120,548		
11/01/29	5,180,000	4.000%		-	109,848	765,395	
05/01/30	5,180,000	4.125%	555,000	109,848		
11/01/30	4,625,000	4.125%		-	98,401	763,248	
05/01/31	4,625,000	4.125%	580,000	98,401		
11/01/31	4,045,000	4.125%		-	86,438	764,839	
05/01/32	4,045,000	4.125%	605,000	86,438		
11/01/32	3,440,000	4.125%		-	73,960	765,398	
05/01/33	3,440,000	4.300%	630,000	73,960		
11/01/33	2,810,000	4.300%		-	60,415	764,375	
05/01/34	2,810,000	4.300%	660,000	60,415		
11/01/34	2,150,000	4.300%		-	46,225	766,640	
05/01/35	2,150,000	4.300%	685,000	46,225		
11/01/35	1,465,000	4.300%		-	31,498	762,723	
05/01/36	1,465,000	4.300%	715,000	31,498		
11/01/36	750,000	4.300%		-	16,125	762,623	
05/01/37	750,000	4.300%	750,000	16,125	766,125	
TOTAL	$	7,205,000	$	1,974,044	$	9,179,044	

Period	Outstanding Balance	Coupons	Principal		Interest	Annual Debt Service	

05/01/26	
1,785,000	
5.375%	
110,000	
49,889		
11/01/26	1,675,000	5.375%		-	46,933	206,823	
05/01/27	1,675,000	5.375%	115,000	46,933		
11/01/27	1,560,000	5.375%		-	43,843	205,776	
05/01/28	1,560,000	5.375%	120,000	43,843		
11/01/28	1,440,000	5.375%		-	40,618	204,460	
05/01/29	1,440,000	5.375%	125,000	40,618		
11/01/29	1,315,000	5.375%		-	37,258	202,876	
05/01/30	1,315,000	5.375%	135,000	37,258		
11/01/30	1,180,000	5.375%		-	33,630	205,888	
05/01/31	1,180,000	5.700%	140,000	33,630		
11/01/31	1,040,000	5.700%		-	29,640	203,270	
05/01/32	1,040,000	5.700%	150,000	29,640		
11/01/32	890,000	5.700%		-	25,365	205,005	
05/01/33	890,000	5.700%	160,000	25,365		
11/01/33	730,000	5.700%		-	20,805	206,170	
05/01/34	730,000	5.700%	170,000	20,805		
11/01/34	560,000	5.700%		-	15,960	206,765	
05/01/35	560,000	5.700%	175,000	15,960		
11/01/35	385,000	5.700%		-	10,973	201,933	
05/01/36	385,000	5.700%	185,000	10,973		
11/01/36	200,000	5.700%		-	5,700	201,673	
05/01/37	200,000	5.700%	200,000	5,700	205,700	
TOTAL	$	1,785,000	$	671,337	$	2,456,337	

Poinciana West
Community Development District
Non-Ad Valorem Assessments Comparison 2026-2027

Neighborhood	
O&M Units	Bonds Units 2017	
Annual Maintenance Assessments	
Annual Debt Assessments	
Total Assessed Per Unit	
	FY 2027	FY 2026	Variance	FY 2027	FY 2026	Variance	FY 2027	FY 2026	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				

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