Adopted Budget	
Fiscal Year 2022	

Homestead 50	
Community Development District	

June 10, 2021

Homestead 50	
Community Development District	

General Fund

FY2021	
Adopted	
 	Budget		

Actual	
through	
    4/30/2021 	

Projected		Total	
Next		Projected	
 	7 Months			     9/30/2021		

FY2022	
Adopted	
 	Budget		

 Description	

Revenues	
Maintenance Assessments	
Interest Income	
Unassigned Fund Balance	

$98,784	
$0	
$228,870	

$95,426	
$223	
$260,743	

$3,357	
$313	
$0	

$98,784	
$536	
$260,743	

$98,784	
$0	
$261,399	

Total Revenues	 	$327,654  	 	$356,393  	 	$3,670  	 	$360,063  	 	$360,183  	
Expenditures						

Administrative	
Engineering	
Dissemination	
Assessment Roll	
Attorney	
Annual Audit	
Trustee Fees	
Management Fees	
Computer Time	
Telephone	
Postage	
Insurance	
Printing & Binding	
Legal Advertising	
Other Current Charges	
Website Compliance	
Office Supplies	
Dues, Licenses & Subscriptions	
Capital Outlay	
First Quarter Operating	

$2,500	
$5,000	
$6,500	
$17,500	
$3,400	
$3,500	
$32,445	
$1,000	
$100	
$250	
$6,820	
$350	
$1,000	
$800	
$1,000	
$250	
$175	
$250	
$20,135	

$0	
$2,917	
$6,500	
$4,050	
$0	
$2,042	
$18,926	
$583	
$0	
$73	
$6,503	
$87	
$0	
$358	
$583	
$0	
$175	
$0	
$0	

$1,458	
$2,917	
$0	
$5,670	
$3,400	
$2,333	
$13,519	
$583	
$58	
$102	
$0	
$121	
$583	
$502	
$583	
$146	
$0	
$146	
$11,745	

$1,458	
$5,833	
$6,500	
$9,720	
$3,400	
$4,375	
$32,445	
$1,167	
$58	
$175	
$6,503	
$208	
$583	
$860	
$1,167	
$146	
$175	
$146	
$11,745	

$2,500	
$5,000	
$6,500	
$15,000	
$3,500	
$3,500	
$34,650	
$1,000	
$100	
$250	
$7,200	
$350	
$1,000	
$800	
$1,000	
$250	
$175	
$250	
$20,330	

 	 	 	 	
Total Administrative	 	$102,975  	 	$42,797  	 	$43,867  	 	$86,664  	 	$103,355  

Field

Facility Management	$12,000	

$7,000	$5,000	$12,000	$0

Total Field	 	$12,000  	 	$7,000  	 	$5,000  	 	$12,000  	 	$0  

Others Financing Sources/(Uses)

Interfund Transfer Out	$0	$0	$0	$0	$0

Total Other Financing	
Sources/(Uses)	

 		 		 		 	

 	$0  	 	$0  	 	$0  	 	$0  	 	$0  

Total Expenditures	 	$114,975  	 	$49,797  	 	$48,867  	 	$98,664  	 	$103,355  

Assigned Fund Balance	 	$212,679  	 	$306,596  	 	($45,197)	 	$261,399  	 	$256,828  

Single Family	
Multi Family	

117	
183	
300	

$346.61	
$346.61	

$346.61	
$346.61	

$40,553	
$63,430	
$103,983	

 Tax Bill FY2021	Tax Bill FY2022	 	
     Description		 	Units		 	Per Unit		 	Per Unit		 	Total	

Page 1

Homestead 50
Community Development District
GENERAL FUND BUDGET

REVENUES:

Maintenance Assessments

The District will levy a Non-Ad Valorem assessment on all the platted lots within the District to pay all the operating expenses for the Fiscal Year in accordance with the adopted budget.

EXPENDITURES:

Administrative:

Engineering Fees

The District's engineer will be providing general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review invoices, etc.

Dissemination

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. The District is contracted with GMS-SF, LLC for this service.

Assessment Roll

The costs associated with preparing, processing and administering the annual assessment place on the County’s tax roll.

Attorney

The District's legal counsel will be providing general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating & maintenance contracts, resolutions etc.

Annual Audit

The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm. Per Section 218.39 of the Florida Statues, each special District with total revenues or expenditures in excess of $100,000 OR any special district with revenue or expenses between $50,000 and
$100,000 that has not been subject to a financial audit in the 2 preceding fiscal years must perform an independent annual audit.

Trustee Fees

The District has issued bonds to be held with a Trustee at UMB Bank. The amount of the trustee fees is based on the agreement between the Trustee and the District.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-South Florida, LLC.

Computer Time

The District processes all its financial activities, i.e. accounts payable, financial statements, etc. on a main frame computer leased by Governmental Management Services – South Florida, LLC.

Homestead 50
Community Development District
GENERAL FUND BUDGET

Administrative: (continued)

Telephone

Telephone and fax machine.

Postage

Mailing of agenda packages, overnight deliveries, correspondence, etc.

Insurance

The District's General Liability & Public Officials Liability Insurance policy is with Egis Insurance & Risk Advisors. Egis specializes in providing insurance coverage to governmental agencies. The amount is based upon similar Community Development Districts.

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.

Other Current Charges

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

Website Compliance

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.

Office Supplies

Miscellaneous office supplies.

Dues, Licenses & Subscriptions

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

Capital Outlay

Represents any minor capital expenditures the District may need to make during the Fiscal Year such as a file cabinet for District files.

First Quarter Operating

Represents funds needed for 1st Quarter of the next Fiscal Year, prior to the collection of Maintenance Assessments from the Tax Collector.

Debt Service Fund	
Series 2007A, Special Assessment Revenue Bonds	

Homestead 50

FY2021	
Adopted	
 	Budget		

Actual	
through	
 	4/30/2021		

Projected		Total	
Next		Projected	
    7 Months 		     9/30/2021		

FY2022	
Adopted	
 	Budget		

Community Development District

 Description	

Revenues	
(1) Carry Forward Surplus	
Special Assessments	
Interest Income	

$157,843	
$246,675	
$1,100	

$157,340	
$238,242	
$24	

$0	
$0	
$34	

$157,340	
$238,242	
$58	

$149,641	
$246,675	
$0	

Total Revenues	 	$405,618  	 	$395,607  	 	$34  	 	$395,641  	 	$396,316  

Expenditures

Series 2007A	
Interest - 11/1	
Interest - 5/1	
Principal - 5/1	

$78,000	
$78,000	
$90,000	

$78,000	
$0	
$0	

$0	
$78,000	
$90,000	

$78,000	
$78,000	
$90,000	

$	75,300	
$	75,300	
$	95,000	

Total Expenditures	 	$246,000  	 	$78,000  	 	$168,000  	 	$246,000  	 	$245,600  

(2)	
Interfund Transfer In	

Others Financing Sources/(Uses)

$0	$0	$0	$0	$0

Total Other Financing	
Sources/(Uses)	

 		 		 		 	

 	($167,966)		 	$149,641  	

 	$0  	 	$0  	 	$0  	 	$0  	 	$0  

EXCESS REVENUES	 	$159,618  	 	$317,607  	 	$150,716  

	

	

	

	

	

Interest Payment A - 11/1/22	$	72,450
(1)	Carry Forward Surplus is net of Reserve Fund.	

	 		Tax Bill FY2021	Tax Bill FY2022	 		
Description	Units	Gross Debt	Gross Debt	Total
 	Per Unit		 	Per Unit		 	

117	$1,042.11	$1,042.11	$121,926.87
183	$752.63	$752.63	$137,731.29
300	$259,658.16	

Single Family Multi Family		

Homestead 50	
Community Development District	

 	
Series 2007A, Special Assessment Revenue Bonds	
Amortization Schedule	

 	 	  	
PRINCIPAL	
 	DATE		 	BALANCE		 	RATE		 	INTEREST		 	PRINCIPAL		 	TOTAL		
1-Nov-21	$	2,510,000	6.000%	$	75,300.00	$	-	$	243,300.00	
1-May-22	$	2,510,000	6.000%	$	75,300.00	$	95,000.00		
1-Nov-22	$	2,415,000	6.000%	$	72,450.00	$	-	$	242,750.00	
1-May-23	$	2,415,000	6.000%	$	72,450.00	$	100,000.00		
1-Nov-23	$	2,315,000	6.000%	$	69,450.00	$	-	$	241,900.00	
1-May-24	$	2,315,000	6.000%	$	69,450.00	$	110,000.00		
1-Nov-24	$	2,205,000	6.000%	$	66,150.00	$	-	$	245,600.00	
1-May-25	$	2,205,000	6.000%	$	66,150.00	$	115,000.00		
1-Nov-25	$	2,090,000	6.000%	$	62,700.00	$	-	$	243,850.00	
1-May-26	$	2,090,000	6.000%	$	62,700.00	$	125,000.00		
1-Nov-26	$	1,965,000	6.000%	$	58,950.00	$	-	$	246,650.00	
1-May-27	$	1,965,000	6.000%	$	58,950.00	$	130,000.00		
1-Nov-27	$	1,835,000	6.000%	$	55,050.00	$	-	$	244,000.00	
1-May-28	$	1,835,000	6.000%	$	55,050.00	$	140,000.00		
1-Nov-28	$	1,695,000	6.000%	$	50,850.00	$	-	$	245,900.00	
1-May-29	$	1,695,000	6.000%	$	50,850.00	$	145,000.00		
1-Nov-29	$	1,550,000	6.000%	$	46,500.00	$	-	$	242,350.00	
1-May-30	$	1,550,000	6.000%	$	46,500.00	$	155,000.00		
1-Nov-30	$	1,395,000	6.000%	$	41,850.00	$	-	$	243,350.00	
1-May-31	$	1,395,000	6.000%	$	41,850.00	$	165,000.00		
1-Nov-31	$	1,230,000	6.000%	$	36,900.00	$	-	$	243,750.00	
1-May-32	$	1,230,000	6.000%	$	36,900.00	$	175,000.00		
1-Nov-32	$	1,055,000	6.000%	$	31,650.00	$	-	$	243,550.00	
1-May-33	$	1,055,000	6.000%	$	31,650.00	$	185,000.00		
1-Nov-33	$	870,000	6.000%	$	26,100.00	$	-	$	242,750.00	
1-May-34	$	870,000	6.000%	$	26,100.00	$	200,000.00		
1-Nov-34	$	670,000	6.000%	$	20,100.00	$	-	$	246,200.00	
1-May-35	$	670,000	6.000%	$	20,100.00	$	210,000.00		
1-Nov-35	$	460,000	6.000%	$	13,800.00	$	-	$	243,900.00	
1-May-36	$	460,000	6.000%	$	13,800.00	$	225,000.00		
1-Nov-36	$	235,000	6.000%	$	7,050.00	$	-	$	245,850.00	
1-May-37	$	235,000	6.000%	$	7,050.00	$	235,000.00	$	242,050.00	

 	Total	

  $	1,469,700.00  

  $	2,510,000.00  

  $	4,147,700.00