Westview North	
Community Development District	

Approved Proposed Budget	
FY 2025	

Table of Contents

1

2-3

4

5

	General Fund

	Narratives

	Debt Service Fund Series 2022

	Series 2022 Amortization Schedule

6		Assessment Schedule

Westview North	
Community Development District	
Approved Proposed Budget	
General Fund	

Adopted
Budget	Actuals Thru	Projected Next	Projected Thru	Approved
Proposed	
Description	FY2024	3/31/24	6 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments - On Roll	$	193,919	$	189,592	$	4,327	$	193,919	$	193,919	

TOTAL REVENUES	$	193,919	$	189,592	$	4,327	$	193,919	$	193,919	

EXPENDITURES:

Administrative						
Engineering	$	5,000	$	1,228	$	3,772	$	5,000	$	5,000	
Attorney	18,000	7,755	10,246	18,000	15,000	
Annual Audit	3,000	5,000	-	5,000	5,100	
Assessment Administration	2,500	2,400	-	2,400	2,400	
Arbitrage Rebate	550	-	550	550	550	
Dissemination Agent	5,500	2,750	2,750	5,500	5,885	
Trustee Fees	5,900	4,041	-	4,041	5,900	
Management Fees	34,500	17,250	17,250	34,500	36,915	
Information Technology	1,000	500	500	1,000	1,070	
Website Maintenance	1,000	500	500	1,000	1,070	
Telephone	50	-	-	-	50	
Postage & Delivery	200	11	89	100	200	
Insurance General Liability	6,500	5,590	-	5,590	6,149	
Printing & Binding	800	5	795	800	500	
Legal Advertising	2,000	-	2,000	2,000	1,000	
Other Current Charges	1,000	904	96	1,000	700	
Office Supplies	100	-	100	100	110	
Dues, Licenses & Subscriptions	175	175	-	175	175	

TOTAL ADMINISTRATIVE	$	87,775	$	48,108	$	38,648	$	86,756	$	87,774	

Operations & Maintenance
Field Expenditures

Field Management	$	12,000	$	2,000	$	10,000	$	12,000	$	12,000	
Landscape Maintenance	40,000	4,571	35,429	40,000	40,000	
Plant Replacement	6,000	-	6,000	6,000	6,000	
Repairs & Maintenance	11,000	-	11,000	11,000	11,000	
Lake & Canal Maintenance	16,000	2,300	13,700	16,000	16,000	
Lift Station	6,000	-	6,000	6,000	6,000	
Preserve Maintenance	6,000	-	6,000	6,000	6,000	
Contingency	9,144	-	10,163	10,163	9,145	

TOTAL FIELD EXPENDITURES	$	106,144	$	8,871	$	98,292	$	107,163	$	106,145	

TOTAL EXPENDITURES	$	193,919	$	56,979	$	136,940	$	193,919	$	193,919	

TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	

EXCESS REVENUES (EXPENDITURES)	$	-	$	132,613	$	(132,613)	$	-	$	-	

Westview North	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

REVENUES	

Special Assessments-Tax Roll	
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.	

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 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 is required to have an annual arbitrage rebate calculation prepared for the Series 2015, Special Assessment Refunding Bonds. The District has contracted with LLS Tax Solutions to perform this calculation.	
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.	

Westview North	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

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 Florida Department of Commerce for $175.	

Expenditures - Administrative	

Field Manager	
The supervision and on-site management of the District. The responsibilities include reviewing contracts and other maintenance related items.	
Landscape Maintenance	
The District will enter into a contract for the monthly maintenance of common areas.	
Plant Replacement	
The cost associated with any replacement of landscaping during the year.	
Repairs & Maintenance	
Any miscellaneous repairs not included in another budget line item.	
Lake/Canal Maintenance	
The District will enter into a contract for the monthly maintenance of the District lakes and canal.	
Lift Station	
The District will enter into a contract for the monthly maintenance of the District lift station.	
Preserve Maintenance	
The District will enter into a contract for the monthly maintenance of the preserve areas.	
Contingency	
Represents any un-budgeted expense.	

Westview North	
Community Development District	
Approved Proposed Budget	
Debt Service Series 2022 Special Assessment Bonds	

Adopted
Budget	Actuals Thru	Projected Next	Projected Thru	Approved
Proposed	
Description	FY2024	3/31/24	6 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments-On Roll	$	991,153	$	969,164	$	21,990	$	991,153	$	957,141	
Interest Earnings	5,000	20,774	3,000	23,774	9,000	
Carry Forward Surplus (1)	382,424	407,621	-	407,621	436,486	

TOTAL REVENUES	$  1,378,577	$  1,397,559	$	24,990	$	1,422,548	$  1,402,627	

EXPENDITURES:

Interest - 12/15	$	395,531	$	395,531	$	-	$	395,531	$	390,656	
Interest - 06/15	395,531	-	395,531	395,531	390,656	
Principal - 06/15	195,000	-	195,000	195,000	205,000	

TOTAL EXPENDITURES	$	986,063	$	395,531	$	590,531	$	986,063	$	986,313	

Other Sources/(Uses)

Interfund transfer In/(Out)	$	-	$	(12,954)	$	12,954	$	-	$	-	

TOTAL OTHER SOURCES/(USES)	$	-	$	(12,954)	$	12,954	$	-	$	-	

TOTAL EXPENDITURES	$	986,063	$	408,486	$	577,577	$	986,063	$	986,313	

EXCESS REVENUES (EXPENDITURES)	$	392,514	$	989,073	$	(552,587)	$	436,486	$	416,314	

Interest Due 11/1/25	 $	385,531 	
	 $	385,531 	

(1) Carry Forward is Net of Reserve Requirement

Westview North	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2022 Special Assessment Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

12/15/24	$	13,415,000	5.000%	$	-	$	390,656	$	390,656	
06/15/25	13,415,000	5.000%	205,000	390,656		
12/15/25	13,210,000	5.000%	-	385,531	981,188	
06/15/26	13,210,000	5.000%	215,000	385,531		
12/15/26	12,995,000	5.000%	-	380,156	980,688	
06/15/27	12,995,000	5.000%	225,000	380,156		
12/15/27	12,770,000	5.000%	-	374,531	979,688	
06/15/28	12,770,000	5.000%	235,000	374,531		
12/15/28	12,535,000	5.000%	-	368,656	978,188	
06/15/29	12,535,000	5.000%	250,000	368,656		
12/15/29	12,285,000	5.750%	-	362,406	981,063	
06/15/30	12,285,000	5.750%	260,000	362,406		
12/15/30	12,025,000	5.750%	-	354,931	977,338	
06/15/31	12,025,000	5.750%	275,000	354,931		
12/15/31	11,750,000	5.750%	-	347,025	976,956	
06/15/32	11,750,000	5.750%	295,000	347,025		
12/15/32	11,455,000	5.750%	-	338,544	980,569	
06/15/33	11,455,000	5.750%	310,000	338,544		
12/15/33	11,145,000	5.750%	-	329,631	978,175	
06/15/34	11,145,000	5.750%	330,000	329,631		
12/15/34	10,815,000	5.750%	-	320,144	979,775	
06/15/35	10,815,000	5.750%	350,000	320,144		
12/15/34	10,465,000	5.750%	-	310,081	980,225	
06/15/36	10,465,000	5.750%	370,000	310,081		
12/15/36	10,095,000	5.750%	-	299,444	979,525	
06/15/37	10,095,000	5.750%	390,000	299,444		
12/15/37	9,705,000	5.750%	-	288,231	977,675	
06/15/38	9,705,000	5.750%	415,000	288,231		
12/15/38	9,290,000	5.750%	-	276,300	979,531	
06/15/39	9,290,000	5.750%	440,000	276,300		
12/15/39	8,850,000	5.750%	-	263,650	979,950	
06/15/40	8,850,000	5.750%	465,000	263,650		
12/15/40	8,385,000	5.750%	-	250,281	978,931	
06/15/41	8,385,000	5.750%	495,000	250,281		
12/15/41	7,890,000	5.750%	-	236,050	981,331	
06/15/42	7,890,000	5.750%	520,000	236,050		
12/15/42	7,370,000	5.750%	-	221,100	977,150	
06/15/43	7,370,000	6.000%	555,000	221,100		
12/15/43	6,815,000	6.000%	-	204,450	980,550	
06/15/44	6,815,000	6.000%	590,000	204,450		
12/15/44	6,225,000	6.000%	-	186,750	981,200	
06/15/45	6,225,000	6.000%	625,000	186,750		
12/15/45	5,600,000	6.000%	-	168,000	979,750	
06/15/46	5,600,000	6.000%	665,000	168,000		
12/15/46	4,935,000	6.000%	-	148,050	981,050	
06/15/47	4,935,000	6.000%	705,000	148,050		
12/15/47	4,230,000	6.000%	-	126,900	979,950	
06/15/48	4,230,000	6.000%	745,000	126,900		
12/15/48	3,485,000	6.000%	-	104,550	976,450	
06/15/49	3,485,000	6.000%	795,000	104,550		
12/15/49	2,690,000	6.000%	-	80,700	980,250	
06/15/50	2,690,000	6.000%	845,000	80,700		
12/15/50	1,845,000	6.000%	-	55,350	981,050	
06/15/51	1,845,000	6.000%	895,000	55,350		
12/15/52	950,000	6.000%	-	28,500	978,850	
06/15/52	950,000	6.000%	950,000	28,500	978,500	
Total			$	13,415,000	$	14,401,200	$	27,816,200	

Westview North	
Community Development District	
Non-Ad Valorem Assessments Comparison	
2024-2025	

Neighborhood	O&M Units	Bonds
Units 20xx	Annual Maintenance Assessments	Annual Debt Assessments	Total Assessed Per Unit	
	
FY 2025	
FY2024	Increase/ (decrease)	
FY 2025	
FY2024	Increase/ (decrease)	
FY 2025	
FY2024	Increase/ (decrease)	

Single Family	
102	
102	
$252.63	
$252.63	
$0.00	
$1,484.00	
$1,484.00	
$0.00	
$1,736.63	
$1,736.63	
$0.00	
Townhomes	285	258	$252.63	$252.63	$0.00	$1,326.00	$1,326.00	$0.00	$1,578.63	$1,578.63	$0.00	
Villas	421	421	$252.63	$252.63	$0.00	$1,221.00	$1,221.00	$0.00	$1,473.63	$1,473.63	$0.00	
Total	808	781										

Page 6