Seagrove
Community Development District

Final Budget For Fiscal Year 2025/2026
October 1, 2025 - September 30, 2026

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

FINAL BUDGET
SEAGROVE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	
FISCAL YEAR 2025/2026
BUDGET	
O&M Assessments	104,563	
Developer Contribution - O&M	0	
Developer Contribution - Debt	0	
Debt Assessments	1,105,407	
Interest Income	480	
		
TOTAL REVENUES	$	1,210,450	
		
EXPENDITURES		
Administrative Expenditures		
Supervisor Fees	0	
Management	37,044	
Legal	25,000	
Assessment Roll	7,500	
Audit Fees	4,600	
Arbitrage Rebate Fee	650	
Insurance	5,700	
Legal Advertisements	3,000	
Miscellaneous	1,400	
Postage	200	
Office Supplies	1,500	
Dues & Subscriptions	175	
Trustee Fees	4,500	
Dissemination Services	2,500	
Continuing Disclosure Fee	1,000	
		
Total Administrative Expenditures	$	94,769	
		
Maintenance Expenditures		
Engineering/Inspections	2,000	
Miscellaneous Maintenance	2,000	
Field Operations	0	
		
Total Maintenance Expenditures	$	4,000	
		
TOTAL EXPENDITURES	$	98,769	
		
REVENUES LESS EXPENDITURES	$	1,111,681	
		
Bond Payments	(1,039,083)	
		
BALANCE	$	72,598	
		
County Appraiser & Tax Collector Fee	(24,199)	
Discounts For Early Payments	(48,399)	
		
EXCESS/ (SHORTFALL)	$	-	

DETAILED FINAL BUDGET
SEAGROVE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	
FISCAL YEAR 2023/2024 ACTUAL	
FISCAL YEAR 2024/2025 BUDGET	
FISCAL YEAR 2025/2026 BUDGET	

COMMENTS	
O&M Assessments	0	0	104,563	Expenditures Less Interest/.94	
Developer Contribution - O&M	68,683	103,035	0	Developer Contribution - O&M	
Developer Contribution - Debt	0	1,038,833	0	Developer Contribution - Debt	
Debt Assessments	0	0	1,105,407	Bond Payments/.94	
Interest Income	791	240	480	Projected At $40 Per Month	
					
TOTAL REVENUES	$	69,474	$	1,142,108	$	1,210,450		
					
EXPENDITURES					
Administrative Expenditures					
Supervisor Fees	0	0	0		
Management	36,000	36,000	37,044	CPI Adjustment	
Legal	15,296	30,000	25,000	FY 24/25 Expenditure Through Jan 2025 Was $4,386	
Assessment Roll	0	7,500	7,500	Will Commence In Fiscal Year Following Issuing Of Bond	
Audit Fees	3,200	4,000	4,600	Will Increase Due To Bond Issue	
Arbitrage Rebate Fee	0	650	650	Will Commence In Fiscal Year Following Issuing Of Bond	
Insurance	5,000	5,500	5,700	FY 24/25 Expenditure Was $5,200	
Legal Advertisements	584	6,000	3,000	$3,000 Decrease From 2024/2025 Budget	
Miscellaneous	225	1,500	1,400	$100 Decrease From 2024/2025 Budget	
Postage	99	200	200	No Change From 2024/2025 Budget	
Office Supplies	214	2,250	1,500	$750 Decrease From 2024/2025 Budget	
Dues & Subscriptions	175	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	
Dissemination Services	0	0	2,500	Required By Bond Underwriter	
Continuing Disclosure Fee	0	1,000	1,000	Will Commence In Fiscal Year Following Issuing Of Bond	
					
Total Administrative Expenditures	$	60,793	$	99,275	$	94,769		
					
Maintenance Expenditures					
Engineering/Inspections	2,047	2,000	2,000	No Change From 2024/2025 Budget	
Miscellaneous Maintenance	0	2,000	2,000	No Change From 2024/2025 Budget	
Field Operations	0	0	0		
					
Total Maintenance Expenditures	$	2,047	$	4,000	$	4,000		
					
TOTAL EXPENDITURES	$	62,840	$	103,275	$	98,769		
					
REVENUES LESS EXPENDITURES	$	6,634	$	1,038,833	$	1,111,681		
					
Bond Payments	0	(1,038,833)	(1,039,083)	2026 Principal & Interest Payments	
					
BALANCE	$	6,634	$	-	$	72,598		
					
County Appraiser & Tax Collector Fee	0	0	(24,199)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	0	0	(48,399)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	6,634	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND BUDGET
SEAGROVE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	

FISCAL YEAR

2023/2024

ACTUAL	

FISCAL YEAR

2024/2025

BUDGET	

FISCAL YEAR

2025/2026

BUDGET	

COMMENTS	

Interest Income	
1,330	
0	
2,000	
Projected Interest For 2025/2026	

Developer Contribution	
0	
1,038,833	
0	

2025 Payments Are Developer Funded	

Bond Proceeds	
773,149	
0	
0		

NAV Tax Collection	
0	
0	
1,039,083	
Maximum Debt Service Collection	

Total Revenues	
$	774,479	
$	1,038,833	
$	1,041,083		

EXPENDITURES					

Principal Payments	
0	
250,000	
260,000	
Principal Payment Due In 2026	

Interest Payments	
0	
788,833	
777,751	
Interest Payments Due In 2026	

Transfer To Construction Fund	
894	
0	
1,500		

Bond Redemption	
0	
0	
1,832	
Estimated Excess Debt Collections	

Total Expenditures	
$	894	
$	1,038,833	
$	1,041,083		

Excess/ (Shortfall)	

$	773,585	

$	-	

$	-		

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

Series 2024 Bond Information

Original Par Amount =	$16,000,000	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 1/1/25 =	June 2054

$16,000,000			

Seagrove Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	
2023/2024	2024/2025	2025/2026	
Assessment	Assessment	Projected Assessment	
Before Discount*	Before Discount*	Before Discount*	

O & M Assessment For Townhomes	

$	-	$	-	$	

159.64	
Debt Assessment For Townhomes	$	-		$	-		$	1,542.55	
Total	$	-	$	-	$	1,702.19	

O & M Assessment For Single Familys 40'	
$	-	$	-	$	
159.64	
Debt Assessment For Single Family's 40'	$	-		$	-		$	1,648.94	
Total	$	-	$	-	$	1,808.58	

O & M Assessment For Single Familys 50'	
$	-	$	-	$	
159.64	
Debt Assessment For Single Family's 50'	$	-		$	-		$	1,861.70	
Total	$	-	$	-	$	2,021.34	

* Assessments Include the Following :	 4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee

 Community Information:	

Townhomes	306	
Single Family's 40'	74	
Single Family's 50'	275	
Total Units	655	

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