Author: Preferred Customer Rain Bird

Poinciana West
Community Development District
Budget Narrative
Fiscal Year 2027

Period | Outstanding Balance | Coupons | Principal | Interest | Annual Debt Service

Poinciana West
Community Development District

Adopted Budget
FY 2027

Table of Contents

1 | General Fund
2-3 | General Fund Narrative
4 | Debt Service Fund Series 2017-1 & 2
5 | Amortization Schedule Series 2017 -1
6 | Amortization Schedule Series 2017-2
7 | Assessment Schedule

Poinciana West
Community Development District
Adopted Budget
General Fund

Actuals Thru

Actuals Thru

Adopted Budget

Actuals Thru

Projected Next

Projected Thru

Adopted
Budget

9/30/2024 | 9/30/2025 | FY2026 | 3/31/2026 | 6 Months | 9/30/2026 | FY 2027

Revenues

Special Assessments - Tax Collector | $  295,613 | $  293,466 | $  291,295 | $  281,231 | $  10,064 | $  291,295 | $  352,179
Property Conveyance Fees | 37,900 | 33,404 | - | - | - | - | -
Interest | 1,689 | 3,735 | 15,000 | 15,779 | 12,500 | 28,279 | 15,000
Miscellaneous Revenue | 200 | - | - | 26,158 | - | 26,158 | -
Carry Forward Balance | - | - | 61,123 | - | - | - | 447
Total Revenues | $ 335,402 | $ 330,605 | $ 367,418 | $ 323,168 | $  22,564 | $ 345,732 | $ 367,626

Expenditures

Administrative | | | | | | |
Supervisors Fees | $	3,600 | $	3,800 | $	6,000 | $	2,000 | $	2,000 | $	4,000 | $	6,000
FICA Expense | 275 | 291 | 459 | 153 | 153 | 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 | 5,330 | 17,767 | 23,097 | 20,000
Attorney - Pond Damage | - | 7,420 | - | - | - | - | -
Arbitrage | 450 | 450 | 450 | 450 | - | 450 | 450
Dissemination | 3,500 | 3,675 | 3,785 | 1,893 | 1,892 | 3,785 | 3,975
Annual Audit | 3,650 | 3,400 | 3,500 | 3,500 | 3,500 | 7,000 | 3,600
Trustee Fees | 4,256 | 4,256 | 4,256 | 4,434 | - | 4,434 | 4,500
Assessment Administration | 5,000 | 5,250 | 5,250 | 5,250 | - | 5,250 | 5,513
Management Fees | 41,200 | 43,260 | 44,558 | 22,279 | 22,279 | 44,558 | 46,786
Information Technology | 1,238 | 1,300 | 1,339 | 669 | 669 | 1,338 | 1,405
Website Maintenance | 825 | 867 | 893 | 447 | 447 | 894 | 939
Postage | 795 | 829 | 1,000 | 916 | 1,170 | 2,086 | 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 | 1,450 | 2,030 | 3,480 | 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 | $  57,820 | $  58,632 | $ 116,452 | $ 126,250

Operations & Maintenance | | | | | | |
Field Services | $  10,609 | $  11,140 | $  11,474 | $	5,737 | $	5,737 | $  11,474 | $  12,048
Landscape Maintenance | 65,188 | 66,455 | 69,476 | 33,729 | 47,221 | 80,950 | 69,476
Aquatic Control Maintenance | 67,194 | 69,882 | 72,677 | 36,337 | 50,872 | 87,209 | 77,038
Aquatic Midge Maintenance | 26,512 | 27,307 | 28,946 | 14,473 | 20,262 | 34,735 | 29,814
R&M Plant Replacement | - | - | 3,000 | - | 3,000 | 3,000 | 3,000
Storm Structure Repairs | - | - | 10,000 | - | 3,524 | 3,524 | 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 | $  90,718 | $ 138,116 | $ 228,834 | $ 241,375

Total Expenditures | $ 265,728 | $ 302,630 | $ 367,418 | $ 148,538 | $ 196,747 | $ 345,285 | $ 367,626

Excess Revenues/(Expenditures) | $  69,674 | $  27,975 | $	- | $  174,630 | $ (174,183) | $	447 | $	-

Net Assessments | $  352,179
Collection Cost (6%) | 22,480
Gross Assessments | $  374,659

Property Type | Platted Units | Gross Per Unit | Gross Total
Single Family | 1650 | $225.56 | $372,177
Recreational | 11 | $225.56 | $2,481
| 1661 | | $374,659

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
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
Postage and Delivery
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other
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 1^st to October 31^st and no less than once every 14 days from November 1^st to March 31^st. 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.

Poinciana West
Community Development District
Adopted Budget
Debt Service Fund Series 2017 A-1 & A-2

Adopted
Budget

Actuals Thru

Projected Next

Projected Thru

Adopted
Budget

FY2026 | 3/31/2026 | 6 Months | 9/30/2026 | FY 2027

Revenues | | | | |
Assessments - Tax Collector | $  1,040,361 | $	993,084 | $	47,277 | $  1,040,361 | $  1,040,361
Assessments - Prepayments | - | 10,774 | - | 10,774 | -
Interest | - | 12,497 | 7,500 | 19,997 | -
Carry Forward Surplus | 295,448 | 331,836 | - | 331,836 | 380,565

Total Revenues | $ 1,335,809 | $ 1,348,191 | $	54,777 | $ 1,402,968 | $ 1,420,926

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 | $ 1,113,678 | $  (733,114) | $	380,565 | $	427,137

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

Poinciana West
Community Development District
AMORTIZATION SCHEDULE
Debt Service Series 2017 -1

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

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Poinciana West
Community Development District
AMORTIZATION SCHEDULE
Debt Service Series 2017 -2

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

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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 | $225.56 | $186.57 | $38.99 | $686.58 | $686.58 | $0.00 | $912.14 | $873.15 | $38.99
Recreational | 11 | 11 | $225.56 | $186.57 | $38.99 | $686.58 | $686.58 | $0.00 | $912.14 | $873.15 | $38.99
Total	1661	1612 | | |

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