Seagrove
Community Development District

Final Budget For Fiscal Year 2024/2025
October 1, 2024 - September 30, 2025

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET

FINAL BUDGET
SEAGROVE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	
FISCAL YEAR 2024/2025
BUDGET	
O&M Assessments	0	
Developer Contribution - O&M	103,035	
Developer Contribution - Debt	1,038,883	
Debt Assessments	0	
Interest Income	240	
		
TOTAL REVENUES	$	1,142,158	
		
EXPENDITURES		
Administrative Expenditures		
Supervisor Fees	0	
Management	36,000	
Legal	30,000	
Assessment Roll	7,500	
Audit Fees	4,000	
Arbitrage Rebate Fee	650	
Insurance	5,500	
Legal Advertisements	6,000	
Miscellaneous	1,500	
Postage	200	
Office Supplies	2,250	
Dues & Subscriptions	175	
Trustee Fees	4,500	
Continuing Disclosure Fee	1,000	
		
Total Administrative Expenditures	$	99,275	
		
Maintenance Expenditures		
Engineering/Inspections	2,000	
Miscellaneous Maintenance	2,000	
Field Operations	0	
		
Total Maintenance Expenditures	$	4,000	
		
TOTAL EXPENDITURES	$	103,275	
		
REVENUES LESS EXPENDITURES	$	1,038,883	
		
Bond Payments	(1,038,883)	
		
BALANCE	$	-	
		
County Appraiser & Tax Collector Fee	0	
Discounts For Early Payments	0	
		
EXCESS/ (SHORTFALL)	$	-	

DETAILED FINAL BUDGET
SEAGROVE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	
FISCAL YEAR 2022/2023 ACTUAL	
FISCAL YEAR 2023/2024 BUDGET	
FISCAL YEAR 2024/2025 BUDGET	

COMMENTS	
O&M Assessments	0	0	0		
Developer Contribution - O&M	74,375	103,025	103,035	Developer Contribution - O&M	
Developer Contribution - Debt	74,375	0	1,038,833	Developer Contribution - Debt	
Debt Assessments	0	0	0		
Interest Income	354	0	240	Projected At $20 Per Month	
					
TOTAL REVENUES	$	149,104	$	103,025	$	1,142,108		
					
EXPENDITURES					
Administrative Expenditures					
Supervisor Fees	0	0	0		
Management	21,000	36,000	36,000	$3,000 X 12 Months	
Legal	9,933	30,000	30,000		
Assessment Roll	0	7,500	7,500	Will Commence In Fiscal Year Following Issuing Of Bond	
Audit Fees	0	4,000	4,000		
Arbitrage Rebate Fee	0	650	650	Will Commence In Fiscal Year Following Issuing Of Bond	
Insurance	2,534	6,000	5,500	FY 23/24 Expenditure Was $5,000	
Legal Advertisements	5,223	5,000	6,000		
Miscellaneous	5,382	1,500	1,500		
Postage	127	200	200		
Office Supplies	542	2,500	2,250		
Dues & Subscriptions	125	175	175	Annual Fee Due Department Of Economic Opportunity	
Trustee Fees	0	4,500	4,500	Will Commence In Fiscal Year Following Issuing Of Bond	
Continuing Disclosure Fee	0	1,000	1,000	Will Commence In Fiscal Year Following Issuing Of Bond	
					
Total Administrative Expenditures	$	44,866	$	99,025	$	99,275		
					
Maintenance Expenditures					
Engineering/Inspections	5,493	2,000	2,000	Engineers Report To Be Included In Bond Cost Of Issuance	
Miscellaneous Maintenance	0	2,000	2,000		
Field Operations	0	0	0		
					
Total Maintenance Expenditures	$	5,493	$	4,000	$	4,000		
					
TOTAL EXPENDITURES	$	50,359	$	103,025	$	103,275		
					
REVENUES LESS EXPENDITURES	$	98,745	$	-	$	1,038,833		
					
Bond Payments	0	0	(1,038,833)	2025 Principal & Interest Payments	
					
BALANCE	$	98,745	$	-	$	-		
					
County Appraiser & Tax Collector Fee	0	0	0		
Discounts For Early Payments	0	0	0		
					
EXCESS/ (SHORTFALL)	$	98,745	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND BUDGET SEAGROVE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	

FISCAL YEAR

2022/2023

ACTUAL	

FISCAL YEAR

2023/2024

BUDGET	

FISCAL YEAR

2024/2025

BUDGET	

COMMENTS	

Interest Income	
0	
0	
0	
Projected Interest For 2024/2025	

Developer Contribution	
0	
0	
1,038,833	

2025 Payments Are Developer Funded	

NAV Tax Collection	
0	
0	
0	
Maximum Debt Service Collection	

Total Revenues	
$	-	
$	-	
$	1,038,833		

EXPENDITURES					

Principal Payments	
0	
0	
250,000	
Principal Payment Due In 2025	

Interest Payments	
0	
0	
788,833	
Interest Payments Due In 2025	

Bond Redemption	
0	
0	
0	
Estimated Excess Debt Collections	

Total Expenditures	
$	-	
$	-	
$	1,038,833		

Excess/ (Shortfall)	

$	-	

$	-	

$	-		

Notes
Capitalized Interest Set-Up Through December 2024.
2025 Principal & Interest Payments To Be Developer Funded.

Series 2024 Bond Information

Original Par Amount =	$16,005,000	Annual Principal Payments Due =	June 15th	
Interest Rate =	4.25% - 5.20%	Annual Interest Payments Due =	June 15th & December 15th	
Issue Date =	August 2024			
Maturity Date =

Par Amount As Of 1/1/24 =	June 2054

$8,065,000