Seagrove
Community Development District

Proposed Budget For Fiscal Year 2026/2027
October 1, 2026 - September 30, 2027

CONTENTS

I

PROPOSED BUDGET

II

DETAILED PROPOSED BUDGET

III

DETAILED PROPOSED DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

IV

PROPOSED BUDGET
SEAGROVE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

I

REVENUES

FISCAL YEAR 2026/2027 BUDGET

O&M Assessments

104,511

Developer Contribution - O&M

0

Developer Contribution - Debt

0

Debt Assessments

1,105,407

Interest Income

780

TOTAL REVENUES

$	1,210,698

EXPENDITURES

Administrative Expenditures

Supervisor Fees

0

Management

38,040

Legal

13,000

Assessment Roll

7,500

Audit Fees

4,700

Arbitrage Rebate Fee

650

Insurance

6,100

Legal Advertisements

1,750

Miscellaneous

700

Postage

200

Office Supplies

500

Dues & Subscriptions

175

Trustee Fees

4,500

Dissemination Services

2,500

Continuing Disclosure Fee

500

Total Administrative Expenditures

$	80,815

Maintenance Expenditures

Engineering/Inspections

3,000

Miscellaneous Maintenance

500

Total Maintenance Expenditures

$	3,500

TOTAL EXPENDITURES

$	84,315

REVENUES LESS EXPENDITURES

$	1,126,383

Bond Payments

(1,039,083)

BALANCE

$	87,300

County Property Appraiser Fee

(23,724)

County Tax Collector Fee

(23,724)

Discounts For Early Payments

(47,447)

EXCESS/ (SHORTFALL)

$	(7,595)

Carryover From Prior Year

7,595

NET EXCESS/ (SHORTFALL)

$	-

DETAILED PROPOSED BUDGET
SEAGROVE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

II

REVENUES

FISCAL YEAR 2024/2025
ACTUAL

FISCAL YEAR 2025/2026
BUDGET

FISCAL YEAR 2026/2027
BUDGET

COMMENTS

O&M Assessments

0

104,563

104,511

Expenditures Less Interest/.94

Developer Contribution - O&M

68,683

0

0

Developer Contribution - Debt

647,073

0

0

Debt Assessments

0

1,105,407

1,105,407

Bond Payments/.94

Interest Income

1,509

480

780

Projected At $65 Per Month

TOTAL REVENUES

$	717,265

$	1,210,450

$	1,210,698

EXPENDITURES

Administrative Expenditures

Supervisor Fees

0

0

0

Management

36,000

37,044

38,040

CPI Adjustment

Legal

8,736

25,000

13,000

FY 25/26 Expenditure Through Jan 2025 Was $3,677

Assessment Roll

7,500

7,500

7,500

No Change From 2025/2026 Budget

Audit Fees

4,400

4,600

4,700

Accepted Amount For 2025/2026 Audit

Arbitrage Rebate Fee

650

650

650

No Change From 2025/2026 Budget

Insurance

5,200

5,700

6,100

FY 24/25 Expenditure Was $5,512

Legal Advertisements

565

3,000

1,750

$1,250 Decrease From 2025/2026 Budget

Miscellaneous

20

1,400

700

$700 Decrease From 2025/2026 Budget

Postage

128

200

200

No Change From 2025/2026 Budget

Office Supplies

222

1,500

500

$1,000 Decrease From 2025/2026 Budget

Dues & Subscriptions

175

175

175

Annual Fee Due Department Of Economic Opportunity

Trustee Fees

4,246

4,500

4,500

Will Commence In Fiscal Year Following Issuing Of Bond

Dissemination Services

0

2,500

2,500

Required By Bond Underwriter

Continuing Disclosure Fee

500

1,000

500

$500 Decrease From 2025/2026 Budget

Total Administrative Expenditures

$	68,342

$	94,769

$	80,815

Maintenance Expenditures

Engineering/Inspections

1,855

2,000

3,000

$1,000 Increase From 2025/2026 Budget

Miscellaneous Maintenance

0

2,000

500

$1,500 Decrease From 2025/2026 Budget

Total Maintenance Expenditures

$	1,855

$	4,000

$	3,500

TOTAL EXPENDITURES

$	70,197

$	98,769

$	84,315

REVENUES LESS EXPENDITURES

$	647,068

$	1,111,681

$	1,126,383

Bond Payments

(647,073)

(1,039,083)

(1,039,083)

2027 Principal & Interest Payments

BALANCE

$	(5)

$	72,598

$	87,300

County Property Appraiser Fee

0

0

(23,724)

Two Percent Of Total Assessment Roll

County Tax Collector Fee

0

(24,199)

(23,724)

Two Percent Of Total Assessment Roll

Discounts For Early Payments

0

(48,399)

(47,447)

Four Percent Of Total Assessment Roll

EXCESS/ (SHORTFALL)

$	(5)

$	-

$	(7,595)

Carryover From Prior Year

0

0

7,595

Carryover From Prior Year

NET EXCESS/ (SHORTFALL)

$	(5)

$	-

$	-

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
SEAGROVE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

Notes
Capitalized Interest Was Set-Up Through December 2024.

Series 2024 Bond Information

Original Par Amount = Interest Rate =
Issue Date =
Maturity Date =

$16,000,000 4.25% - 5.20%
August 2024
June 2054

Annual Principal Payments Due =
Annual Interest Payments Due =

June 15th
June 15th & December 15th

Par Amount As Of 1/1/26 =

$15,750,000

III

REVENUES

FISCAL YEAR

2024/2025

ACTUAL

FISCAL YEAR

2025/2026

BUDGET

FISCAL YEAR

2026/2027

BUDGET

COMMENTS

Interest Income

27,552

2,000

2,000

Projected Interest For 2026/2027

Developer Contribution

647,073

0

0

NAV Tax Collection

0

1,039,083

1,039,083

Maximum Debt Service Collection

Total Revenues

$	674,625

$	1,041,083

$	1,041,083

EXPENDITURES

Principal Payments

250,000

260,000

270,000

Principal Payment Due In 2027

Interest Payments

650,558

777,751

766,489

Interest Payments Due In 2027

Transfer To Construction Fund

22,797

1,500

1,500

Bond Redemption

0

1,832

3,094

Estimated Excess Debt Collections

Total Expenditures

$	923,355

$	1,041,083

$	1,041,083

Excess/ (Shortfall)

$	(248,730)

$	-

$	-

Seagrove Community Development District Assessment Comparison

Fiscal Year 2024/2025
Assessment
Before Discount*

Fiscal Year 2025/2026
Assessment
Before Discount*

Fiscal Year 2026/2027
Projected Assessment
Before Discount*

O & M Assessment For Townhomes
Debt Assessment For Townhomes

$

-

$

159.64

$
$

159.57
1,542.55

 $	-	

 $	1,542.55

Total

$

-

$

1,702.19

$

1,702.12

O & M Assessment For Single Familys 40'
Debt Assessment For Single Family's 40'

$

-

$

159.64

$
$

159.57
1,648.94

 $	-	

 $	1,648.94

Total

$

-

$

1,808.58

$

1,808.51

O & M Assessment For Single Familys 50'
Debt Assessment For Single Family's 50'

$

-

$

159.64

$
$

159.57
1,861.70

 $	-	

 $	1,861.70

Total

$

-

$

2,021.34

$

2,021.27

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

 Community Information:	

Townhomes Single Family's 40'
Single Family's 50'
Total Units

306
74
275
655

IV