Homestead 50	
Community Development District	

Adopted Budget	
FY 2025	

Table of Contents

1

2-3

4

5

	General Fund

	Narratives

	Debt Service Fund Series 2021

	Series 2021 Amortization Schedule

6		Assessment Schedule

Homestead 50	
Community Development District	
Adopted Budget	
General Fund	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2024	5/31/24	4 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments - On Roll	$98,784	$98,770	$14	$98,784	$98,784	
Interest Income	-	10,270	5,135	15,404	5,000	
Misc. Income	-	108	-	108	-	
Carry Forward Surplus	131,366	-	-	-	10,021	

TOTAL REVENUES	$230,150	$109,148	$5,148	$114,297	$113,805	

EXPENDITURES:

Administrative						
Supervisor Fees	$2,400	$600	$1,200	$1,800	$2,400	
FICA Taxes	184	46	92	138	184	
Engineering	2,500	-	833	833	2,500	
Attorney	15,000	3,990	6,935	10,925	15,000	
Annual Audit	3,700	3,200	-	3,200	3,700	
Assessment Administration	6,500	6,500	-	6,500	6,500	
Dissemination Agent	5,000	3,333	1,667	5,000	5,000	
Trustee Fees	3,500	-	3,500	3,500	3,500	
Management Fees	39,258	26,172	13,086	39,258	40,436	
Information Technology	1,200	800	400	1,200	1,200	
Website Maintenance	1,200	800	400	1,200	1,200	
Telephone	100	-	33	33	100	
Postage & Delivery	250	136	68	203	250	
Printing & Binding	350	8	117	124	350	
Insurance General Liability	8,000	7,525	-	7,525	8,480	
Legal Advertising	1,000	1,561	-	1,561	1,000	
Other Current Charges	1,000	241	320	561	1,000	
Office Supplies	250	0	83	83	250	
Dues, Licenses & Subscriptions	175	175	-	175	175	
Capital Outlay	250	-	125	125	250	
Contingencies	20,330	-	20,330	20,330	20,330	

TOTAL ADMINISTRATIVE	$112,147	$55,086	$49,189	$104,276	$113,805	

TOTAL EXPENDITURES	$112,147	$55,086	$49,189	$104,276	$113,805	

EXCESS REVENUES (EXPENDITURES)	$118,003	$54,062	$(44,041)	$10,021	$	-	

Homestead 50	
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.	
Interest	
The District earns interest on the monthly average collected balance for each of their investment accounts.	

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 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 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 Roll Administration	
GMS SF, LLC provides assessment services for closing lot sales, assessment roll services with the local Tax Collector and financial advisory services.	
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.	

Homestead 50	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

Expenditures - Administrative (continued)	
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.	
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 the Florida Department of Commerce for $175.	
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.	
Contingencies	
Represents any unforeseen expenditures the district may encounter during the fiscal year.	

Homestead 50	
Community Development District	
Adopted Budget	
Debt Service Series 2021 Special Assessment Refunding Bonds	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2024	5/31/24	4 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments-On Roll	$195,234	$195,208	$26	$195,234	$195,234	
Interest Earnings	1,000	6,714	3,357	10,072	3,000	
Carry Forward Surplus (1)	55,693	55,386	-	55,386	64,512	

TOTAL REVENUES	$251,927	$257,308	$3,384	$260,692	$262,746	

EXPENDITURES:

Interest - 11/1	$33,090	$33,090	$-	$33,090	$31,140	
Interest - 5/1	33,090	33,090	-	33,090	132,000	
Principal - 5/1	130,000	130,000	-	130,000	31,140	

TOTAL EXPENDITURES	$196,180	$196,180	$-	$196,180	$194,280	

EXCESS REVENUES (EXPENDITURES)	$55,747	$61,128	$3,384	$64,512	$68,466	

Interest Due 11/1/25	$29,160.00	
	$29,160.00	

(1) Carry Forward is Net of Reserve Requirement

Homestead 50	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2021 Special Assessment Refunding Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

11/01/21	$2,449,000	3.000%	$-	$18,980	18,979.75	
05/01/22	2,449,000	3.000%	120,000	36,735		
11/01/22	2,329,000	3.000%	-	34,935	191,670.00	
05/01/23	2,329,000	3.000%	123,000	34,935		
11/01/23	2,206,000	3.000%	-	33,090	191,025.00	
05/01/24	2,206,000	3.000%	130,000	33,090		
11/01/24	2,076,000	3.000%	-	31,140	194,230.00	
05/01/25	2,076,000	3.000%	132,000	31,140		
11/01/25	1,944,000	3.000%	-	29,160	192,300.00	
05/01/26	1,944,000	3.000%	139,000	29,160		
11/01/26	1,805,000	3.000%	-	27,075	195,235.00	
05/01/27	1,805,000	3.000%	141,000	27,075		
11/01/27	1,664,000	3.000%	-	24,960	193,035.00	
05/01/28	1,664,000	3.000%	147,000	24,960		
11/01/28	1,517,000	3.000%	-	22,755	194,715.00	
05/01/29	1,517,000	3.000%	148,000	22,755		
11/01/29	1,369,000	3.000%	-	20,535	191,290.00	
05/01/30	1,369,000	3.000%	153,000	20,535		
11/01/30	1,216,000	3.000%	-	18,240	191,775.00	
05/01/31	1,216,000	3.000%	158,000	18,240		
11/01/31	1,058,000	3.000%	-	15,870	192,110.00	
05/01/32	1,058,000	3.000%	163,000	15,870		
11/01/32	895,000	3.000%	-	13,425	192,295.00	
05/01/33	895,000	3.000%	167,000	13,425		
11/01/33	728,000	3.000%	-	10,920	191,345.00	
05/01/34	728,000	3.000%	175,000	10,920		
11/01/34	553,000	3.000%	-	8,295	194,215.00	
05/01/35	553,000	3.000%	179,000	8,295		
11/01/35	374,000	3.000%	-	5,610	192,905.00	
05/01/36	374,000	3.000%	186,000	5,610		
11/01/36	188,000	3.000%	-	2,820	194,430.00	
05/01/37	188,000	3.000%	188,000	2,820	190,820.00	

Total	$2,076,000	$461,610	$2,700,700	

Homestead 50	
Community Development District	
Non-Ad Valorem Assessments Comparison	
2024-2025	

Neighborhood	O&M Units	Bonds Units
2021	
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	

117	

117	

$346.61	

$346.61	

$0.00	

$824.79	

$824.79	

$0.00	

$1,171.40	

$1,171.40	

$0.00	
Multi Family	183	183	$346.61	$346.61	$0.00	$595.68	$595.68	$0.00	$942.29	$942.29	$0.00	
Total	300	300										

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