Lake Lizzie
Community Development District

Adopted Budget
FY2026

Table of Contents

1		General Fund	

2-4	
	General Fund Narrative	

5	
	Debt Service - Series 2023	

6	
	Amortization Schedule	

7	
	Debt Service - Series 2023	

8	
	Amortization Schedule	
Lake Lizzie
Community Development District General Fund

Description	Adopted Budget
FY2025		Actuals Thru
6/30/25	Projected Next
3 Months	Projected Thru
9/30/25	Adopted Budget
FY2026		

Revenues								
Assessments - On Roll	$	237,611	$	238,096	$	-	$	238,096	$	237,611	
Interest Income	$	-	$	520	$	312  $	832	$	-	
Carryforward	$	-	$	-	$	-	$	-	$	50,796	
Total Revenues	$	237,611	$	238,616	$	312  $	238,929	$	288,407	

Expenditures								
General & Administrative								
Supervisor Fees	$	12,000	$	1,600	$	3,000  $	4,600	$	12,000	
FICA Expense	$	918	$	122	$	230  $	352	$	918	
Engineering	$	15,000	$	450	$	1,500  $	1,950	$	15,000	
Attorney	$	25,000	$	10,050	$	3,350  $	13,401	$	15,000	
Annual Audit	$	3,900	$	3,900	$	-	$	3,900	$	3,900	
Assessment Administration	$	5,000	$	5,000	$	-	$	5,000	$	5,000	
Arbitrage	$	900	$	450	$	450  $	900	$	900	
Dissemination	$	6,000	$	4,250	$	1,500  $	5,750	$	6,000	
Trustee Fees	$	8,081	$	-	$	8,081  $	8,081	$	8,889	
Management Fees	$	40,000	$	30,000	$	10,000  $	40,000	$	41,200	
Information Technology	$	1,800	$	1,350	$	450  $	1,800	$	1,854	
Website Maintenance	$	1,200	$	900	$	450  $	1,350	$	1,236	
Telephone	$	300	$	-	$	100  $	100	$	100	
Postage & Delivery	$	1,000	$	196	$	156  $	352	$	1,000	
Insurance	$	6,000	$	5,200	$	-	$	5,200	$	7,201	
Printing & Binding	$	1,000	$	30	$	250  $	280	$	600	
Legal Advertising	$	15,000	$	197	$	1,127  $	1,324	$	5,000	
Contingency	$	5,000	$	771	$	257  $	1,028	$	5,000	
Office Supplies	$	625	$	1	$	80  $	81	$	500	
Travel Per Diem	$	660	$	-	$	150  $	150	$	-	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total Administrative	$	149,559	$	64,643	$	31,131  $	95,773	$	131,473	

Operation and Maintenance								
Field Expenditures								
Field Management	$	10,500	$	7,875	$	2,625  $	10,500	$	10,815	
Property Insurance	$	-	$	818	$	-	$	818	$	1,507	
Water & Sewer	$	-	$	4,703	$	4,560  $	9,263	$	35,040	
Electric	$	-	$	-	$	-	$	-	$	1,500	
Landscape Maintenance	$	30,000	$	34,011	$	15,821  $	49,832	$	63,282	
Pond Maintenance	$	12,000	$	5,121	$	1,707  $	6,828	$	8,790	
Pressure Washing	$	-	$	-	$	-	$	-	$	1,500	
Midge Management	$	-	$	-	$	-	$	-	$	16,500	
Contingency	$	35,552	$	-	$	11,851  $	11,851	$	18,000	
Total Field Expenditures	$	88,052	$	52,528	$	36,563  $	89,091	$	156,934	
								
Total Expenditures	$	237,611	$	117,171	$	67,694  $	184,865	$	288,407	
								
Excess Revenues/(Expenditures)	$	-	$	121,445	$	(67,382)  $	54,064	$	-	
								
Total								
Product	ERU	Assessable Units		ERU/Unit	Net Assessment	Net Per Unit	Gross Per Unit		
Single Family 34'	39	
52			
0.75	
$31,097	
$598.01	
$636.18	
Single Family 50'	259	259		1.00	$206,514	$797.35	$848.25		
Total ERU's	298	311			$237,611				
Lake Lizzie
Community Development District Debt Service Fund
Series 2023

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2025	6/30/25	3 Months	9/30/25	FY2026	

Revenues						
Assessments	$	240,025	$	240,515	$	-	$	240,515	$	240,025	
Assessments - Prepayments	$	-	$	36,264	$	-	$	36,264	$	-	
Interest Income	$	4,811	$	7,151	$	2,384	$	9,535	$	4,500	
Carry Forward Surplus *	$	106,527	$	108,714	$	-	$	108,714	$	116,073	
Total Revenues	$	351,362	$	392,644	$	2,384	$	395,028	$	360,598	

Expenses						
Interest- 11/01	$	91,978	$	91,978	$	-	$	91,978	$	89,685	
Principal - 05/01	$	55,000	$	55,000	$	-	$	55,000	$	55,000	
Interest - 05/01	$	91,978	$	91,978	$	-	$	91,978	$	89,685	
Special Call - 08/01	$	-	$	-	$	40,000	$	40,000	$	-	
Total Expenditures	$	238,955	$	238,955	$	40,000	$	278,955	$	234,370	
						
Excess Revenues/(Expenditures)	$	112,407	$	153,689	$	(37,616)	$	116,073	$	126,228	

*Carry forward less amount in Reserve funds.						
Series 2023						
Interest - 11/01/26	$88,448					
Net Assessments	$	240,025					
Add: Discounts & Collection 		$15,321  Gross Assessments 	$255,346 

Product *	Assessable Units	Annual Debt Service	Net Per Unit	Gross Per Unit	
Single Family 34'	52	$61,098.98	$1,174.98	$1,249.98	
Single Family 50'	141	$178,926.02	$1,268.98	$1,349.98	
Total ERU's	193	$240,025			
Lake Lizzie
Community Development District
General Fund Narrative

Revenues:

Assessments

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.

Expenditures:

General & Administrative:

Supervisor 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.

FICA Expenditures

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

Engineering

The District's engineer provides general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review invoices and various projects as directed by the Board of Supervisors and the District Manager.

Attorney

The District's legal counsel provides general legal services to the District, e.g. attendance and preparation for meetings, preparation and review of agreements, resolutions, etc. as directed by the Board of Supervisors and the District Manager.

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis.

Assessment Administration

The District will contract to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on the Series 2023 and Series 2024 Bonds.

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.

Trustee Fees

The District will pay annual trustee fees for Revenue Bonds that are deposited with a Trustee.
Lake Lizzie
Community Development District
General Fund Narrative

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-Central Florida, LLC. The services include but are not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reports, annual audits, etc.

Information Technology

Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, positive pay implementation and programming for fraud protection, accounting software, tablets for meetings, Adobe, Microsoft Office, etc.

Website Maintenance

Represents the costs with Governmental Management Services – Central Florida, LLC 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.

Telephone

Telephone and fax machine.

Postage & Delivery

The District incurs charges for mailing of Board meeting agenda packages, overnight deliveries, correspondence, etc.

Insurance

The District’s general liability and public official’s liability insurance coverages.

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.

Contingency

Bank charges and any other miscellaneous expenses incurred during the year.

Office Supplies

Any supplies that may need to be purchased during the fiscal year, e.g., paper, minute books, file folders, labels, paper clips, etc.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Florida Department of Economic Opportunity for $175. This is the only expense under this category for the District.
Lake Lizzie
Community Development District
General Fund Narrative

Operations and Maintenance:

Field Expenditures

Field Management

Represents the estimated costs of contracting services that provide onsite field management of contracts for the District such as landscape and lake maintenance. Services can include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Property Insurance

The District’s property insurance coverage is provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Water & Sewer

Represents current and estimated costs for water and refuse services provided for common areas throughout the District.

Electric

Represents current and estimated electric charges of common areas throughout the District

Landscape Maintenance

The District has a contract with Yellowstone Landscape to maintain the landscaping located within the District. These services include monthly landscape maintenance such as mowing of turf areas, pruning and trimming, plant bed weed control, fertilization and irrigation inspections.

Pond Maintenance

Represents Pond maintenance for the District.

Pressure Washing

To record expenses related to the pressure washing of various areas of the District.

Midge Management

Recorded expense for midge control services to address insect infestation around the property. This treatment is part of ongoing pest management efforts to maintain a safe and comfortable environment for residents and visitors.

Contingency

Represents any additional field expense that may not have been provided for in the budget.
Lake Lizzie Community Development District Series 2023 Special Assessment Bonds
Amortization Schedule

Date		Balance		Prinicpal		Interest		Total	
									
11/01/25	$	3,275,000.00	$	-	$	89,685.00	$	89,685.00	
05/01/26	$	3,215,000.00	$	55,000.00	$	89,685.00			
11/01/26	$	3,215,000.00	$	-	$	88,447.50	$	233,132.50	
05/01/27	$	3,215,000.00	$	60,000.00	$	88,447.50			
11/01/27	$	3,215,000.00	$	-	$	87,097.50	$	235,545.00	
05/01/28	$	3,215,000.00	$	60,000.00	$	87,097.50			
11/01/28	$	3,215,000.00	$	-	$	85,747.50	$	232,845.00	
05/01/29	$	3,215,000.00	$	65,000.00	$	85,747.50			
11/01/29	$	3,150,000.00	$	-	$	84,252.50	$	235,000.00	
05/01/30	$	3,150,000.00	$	70,000.00	$	84,252.50			
11/01/30	$	3,080,000.00	$	-	$	82,642.50	$	236,895.00	
05/01/31	$	3,080,000.00	$	70,000.00	$	82,642.50			
11/01/31	$	2,855,000.00	$	-	$	81,032.50	$	233,675.00	
05/01/32	$	2,855,000.00	$	75,000.00	$	81,032.50			
11/01/32	$	2,855,000.00	$	-	$	79,307.50	$	235,340.00	
05/01/33	$	2,855,000.00	$	80,000.00	$	79,307.50			
11/01/33	$	2,855,000.00	$	-	$	77,467.50	$	236,775.00	
05/01/34	$	2,855,000.00	$	80,000.00	$	77,467.50			
11/01/34	$	2,775,000.00	$	-	$	75,347.50	$	232,815.00	
05/01/35	$	2,775,000.00	$	85,000.00	$	75,347.50			
11/01/35	$	2,690,000.00	$	-	$	73,095.00	$	233,442.50	
05/01/36	$	2,690,000.00	$	90,000.00	$	73,095.00			
11/01/36	$	2,600,000.00	$	-	$	70,710.00	$	233,805.00	
05/01/37	$	2,600,000.00	$	95,000.00	$	70,710.00			
11/01/37	$	2,505,000.00	$	-	$	68,192.50	$	233,902.50	
05/01/38	$	2,505,000.00	$	100,000.00	$	68,192.50			
11/01/38	$	2,405,000.00	$	-	$	65,542.50	$	233,735.00	
05/01/39	$	2,405,000.00	$	105,000.00	$	65,542.50			
11/01/39	$	2,300,000.00	$	-	$	62,760.00	$	233,302.50	
05/01/40	$	2,300,000.00	$	115,000.00	$	62,760.00			
11/01/40	$	2,185,000.00	$	-	$	59,712.50	$	237,472.50	
05/01/41	$	2,185,000.00	$	120,000.00	$	59,712.50			
11/01/41	$	1,940,000.00	$	-	$	56,532.50	$	236,245.00	
05/01/42	$	1,810,000.00	$	125,000.00	$	56,532.50			
11/01/42	$	1,810,000.00	$	-	$	53,220.00	$	234,752.50	
05/01/43	$	1,810,000.00	$	130,000.00	$	53,220.00			
11/01/43	$	1,810,000.00	$	-	$	49,775.00	$	232,995.00	
05/01/44	$	1,810,000.00	$	140,000.00	$	49,775.00			
11/01/44	$	1,670,000.00	$	-	$	45,925.00	$	235,700.00	
05/01/45	$	1,670,000.00	$	145,000.00	$	45,925.00			
11/01/45	$	1,525,000.00	$	-	$	41,937.50	$	232,862.50	
05/01/46	$	1,525,000.00	$	155,000.00	$	41,937.50			
11/01/46	$	1,370,000.00	$	-	$	37,675.00	$	234,612.50	
05/01/47	$	1,370,000.00	$	165,000.00	$	37,675.00			
11/01/47	$	1,205,000.00	$	-	$	33,137.50	$	235,812.50	
05/01/48	$	1,205,000.00	$	175,000.00	$	33,137.50			
11/01/48	$	1,030,000.00	$	-	$	28,325.00	$	236,462.50	
05/01/49	$	1,030,000.00	$	185,000.00	$	28,325.00			
11/01/49	$	845,000.00	$	-	$	23,237.50	$	236,562.50	
05/01/50	$	845,000.00	$	195,000.00	$	23,237.50			
11/01/50	$	650,000.00	$	-	$	17,875.00	$	236,112.50	
05/01/51	$	650,000.00	$	205,000.00	$	17,875.00			
11/01/51	$	445,000.00	$	-	$	12,237.50	$	235,112.50	
05/01/52	$	445,000.00	$	215,000.00	$	12,237.50			
11/01/52	$	230,000.00	$	-	$	6,325.00	$	233,562.50	
05/01/53	$	230,000.00	$	230,000.00	$	6,325.00	$	236,325.00	
			$	3,390,000.00	$	3,274,485.00	$	6,664,485.00	
Lake Lizzie
Community Development District Debt Service Fund
Series 2024

	Proposed Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2025	6/30/25	3 Months	9/30/25	FY2026	

Revenues						
Assessments	$	-	$	-	$	-	$	-	$	149,648	
Interest Income	$	2,557	$	4,420	$	1,473	$	5,894	$	2,947	
Carry Forward Surplus *	$	-	$	-	$	-	$	-	$	64,527	
Total Revenues	$	2,557	$	4,420	$	1,473	$	5,894	$	217,122	

Expenses						
Interest- 11/01	$	-	$	-	$	-	$	-	$	58,634	
Principal - 05/01	$	-	$	-	$	-	$	-	$	30,000	
Interest - 05/01	$	56,354	$	56,354	$	-	$	56,354	$	58,634	
Total Expenditures	$	56,354	$	56,354	$	-	$	56,354	$	147,268	
Other Financing Sources/(Uses)						
Bond Proceeds	$	189,811	$	189,811	$	-	$	189,811	$	-	
Total Other Financing Sources/(Uses)	$	189,811	$	189,811	$	-	$	189,811	$	-	
						
Excess Revenues/(Expenditures)	$	136,014	$	137,878	$	1,473	$	139,351	$	69,854	

*Carry forward less amount in Reserve funds.

Series 2024
Interest - 11/01/26	$57,951
Net Assessments $	149,648
Add: Discounts & Collection 		$9,552  Gross Assessments 	$159,200 

Product *	Assessable Units	Annual Debt Service	Net Per Unit	Gross Per Unit	
Single Family 50'	118	$149,647.60	$1,268.20	$1,349.15	
Total ERU's	118	$149,648			
Lake Lizzie Community Development District Series 2024 Special Assessment Bonds
Amortization Schedule

Date		Balance		Prinicpal		Interest		Total	

05/01/25	

$	

2,155,000.00	

$	

-	

$	

56,353.55			
11/01/25	$	2,155,000.00	$	-	$	58,633.75	$	114,987.30	
05/01/26	$	2,155,000.00	$	30,000.00	$	58,633.75			
11/01/26	$	2,125,000.00	$	-	$	57,951.25	$	146,585.00	
05/01/27	$	2,125,000.00	$	30,000.00	$	57,951.25			
11/01/27	$	2,095,000.00	$	-	$	57,268.75	$	145,220.00	
05/01/28	$	2,095,000.00	$	35,000.00	$	57,268.75			
11/01/28	$	2,060,000.00	$	-	$	56,472.50	$	148,741.25	
05/01/29	$	2,060,000.00	$	35,000.00	$	56,472.50			
11/01/29	$	2,025,000.00	$	-	$	55,676.25	$	147,148.75	
05/01/30	$	2,025,000.00	$	35,000.00	$	55,676.25			
11/01/30	$	1,990,000.00	$	-	$	54,880.00	$	145,556.25	
05/01/31	$	1,990,000.00	$	40,000.00	$	54,880.00			
11/01/31	$	1,950,000.00	$	-	$	53,970.00	$	148,850.00	
05/01/32	$	1,950,000.00	$	40,000.00	$	53,970.00			
11/01/32	$	1,910,000.00	$	-	$	52,900.00	$	146,870.00	
05/01/33	$	1,910,000.00	$	45,000.00	$	52,900.00			
11/01/33	$	1,865,000.00	$	-	$	51,696.25	$	149,596.25	
05/01/34	$	1,865,000.00	$	45,000.00	$	51,696.25			
11/01/34	$	1,820,000.00	$	-	$	50,492.50	$	147,188.75	
05/01/35	$	1,820,000.00	$	50,000.00	$	50,492.50			
11/01/35	$	1,770,000.00	$	-	$	49,155.00	$	149,647.50	
05/01/36	$	1,770,000.00	$	50,000.00	$	49,155.00			
11/01/36	$	1,720,000.00	$	-	$	47,817.50	$	146,972.50	
05/01/37	$	1,720,000.00	$	55,000.00	$	47,817.50			
11/01/37	$	1,665,000.00	$	-	$	46,346.25	$	149,163.75	
05/01/38	$	1,665,000.00	$	55,000.00	$	46,346.25			
11/01/38	$	1,610,000.00	$	-	$	44,875.00	$	146,221.25	
05/01/39	$	1,610,000.00	$	60,000.00	$	44,875.00			
11/01/39	$	1,550,000.00	$	-	$	43,270.00	$	148,145.00	
05/01/40	$	1,550,000.00	$	60,000.00	$	43,270.00			
11/01/40	$	1,490,000.00	$	-	$	41,665.00	$	144,935.00	
05/01/41	$	1,490,000.00	$	65,000.00	$	41,665.00			
11/01/41	$	1,355,000.00	$	-	$	39,926.25	$	146,591.25	
05/01/42	$	1,205,000.00	$	70,000.00	$	39,926.25			
11/01/42	$	1,205,000.00	$	-	$	38,053.75	$	147,980.00	
05/01/43	$	1,205,000.00	$	75,000.00	$	38,053.75			
11/01/43	$	1,205,000.00	$	-	$	36,047.50	$	149,101.25	
05/01/44	$	1,205,000.00	$	75,000.00	$	36,047.50			
11/01/44	$	1,205,000.00	$	-	$	34,041.25	$	145,088.75	
05/01/45	$	1,205,000.00	$	80,000.00	$	34,041.25			
11/01/45	$	1,125,000.00	$	-	$	31,781.25	$	145,822.50	
05/01/46	$	1,125,000.00	$	85,000.00	$	31,781.25			
11/01/46	$	1,040,000.00	$	-	$	29,380.00	$	146,161.25	
05/01/47	$	1,040,000.00	$	90,000.00	$	29,380.00			
11/01/47	$	950,000.00	$	-	$	26,837.50	$	146,217.50	
05/01/48	$	950,000.00	$	95,000.00	$	26,837.50			
11/01/48	$	855,000.00	$	-	$	24,153.75	$	145,991.25	
05/01/49	$	855,000.00	$	100,000.00	$	24,153.75			
11/01/49	$	755,000.00	$	-	$	21,328.75	$	145,482.50	
05/01/50	$	755,000.00	$	110,000.00	$	21,328.75			
11/01/50	$	645,000.00	$	-	$	18,221.25	$	149,550.00	
05/01/51	$	645,000.00	$	115,000.00	$	18,221.25			
11/01/51	$	530,000.00	$	-	$	14,972.50	$	148,193.75	
05/01/52	$	530,000.00	$	120,000.00	$	14,972.50			
11/01/52	$	410,000.00	$	-	$	11,582.50	$	146,555.00	
05/01/53	$	410,000.00	$	130,000.00	$	11,582.50			
11/01/53	$	280,000.00	$	-	$	7,910.00	$	149,492.50	
05/01/54	$	280,000.00	$	135,000.00	$	7,910.00			
11/01/54	$	145,000.00	$	-	$	4,096.25	$	147,006.25	
05/01/55	$	145,000.00	$	145,000.00	$	4,096.25	$	149,096.25	
			$	2,155,000.00	$	2,379,158.55	$	4,534,158.55