Stoneybrook West	
Community Development District	

Adopted Budget	
FY 2025	

Table of Contents

1		General Fund	

2-3	
	Narratives	

4	
	Capital Reserve Fund	

5	
	Debt Service Fund Series 2018	

6-7	
	Series 2018 Amortization Schedule	
8		Assessment Schedule	

Stoneybrook West	
Community Development District	
Adopted Budget	
General Fund	

Adopted Budget	
Actuals Thru	
Projected Next	
Projected Thru	Adopted Budget	
Description	FY2024	6/30/24	3 Months	9/30/24	FY 2025	
REVENUES:

Special Assessments - Tax Roll	$	501,480	$	483,342	$	23,311	$	506,653	$	494,752	
Interest Income	289	9,799	4,915	14,714	12,000	
Carry Forward Surplus	-	-	5,000	5,000	-	
TOTAL REVENUES	$	501,769	$	493,141	$	33,226	$	526,367	$	506,752	
EXPENDITURES:

Administrative						
Supervisor Fees	$	5,000	$	2,800	$	1,000	$	3,800	$	5,000	
PR-FICA	383	214	77	291	383	
Arbitrage Rebate	600	-	-	-	600	
Dissemination Agent	2,000	-	-	-	-	
Engineering	6,500	3,031	3,469	6,500	6,500	
Attorney	15,500	14,105	1,395	15,500	20,000	
Management Fees	48,801	28,125	9,375	37,500	39,375	
Assessment Administration	5,150	-	5,000	5,000	5,250	
Trustee Fees	7,200	7,004	-	7,004	7,200	
Annual Audit	4,500	4,400	-	4,400	4,500	
Website Maintenance	2,100	1,288	300	1,588	1,200	
Postage & Delivery	650	2,165	-	2,165	650	
Insurance General Liability	8,360	6,685	-	6,685	7,370	
Printing & Binding	500	60	443	503	1,500	
Legal Advertising	1,500	643	730	1,373	1,500	
Information Technology	-	1,350	450	1,800	1,800	
Other Current Charges	2,400	4,878	142	5,020	750	
Office Supplies	750	1	20	21	750	
Dues, Licenses & Subscriptions	175	175			175	
Property Taxes	-	-	-	-	5,250	

TOTAL ADMINISTRATIVE	$	112,069	$	76,924	$	22,400	$	99,149	$	109,753	
Operations & Maintenance						
Field Expenditures
Field Management	
$	15,914	
$	11,250	
$	3,750	
15,000	
$	15,750	
Lake and Wetland	39,060	29,295	9,765	39,060	39,060	
Contract - Fountain	4,200	2,100	2,100	4,200	4,200	
Contract - Landscape	55,119	41,890	14,882	56,772	56,772	
Contract - Pest Control	71,100	48,117	14,055	62,172	65,148	
Storm Drainage	3,451	1,340	1,340	2,680	2,680	
Utility - Electric	12,500	8,584	1,416	10,000	12,500	
R&M - Fountain	12,500	-	12,500	12,500	-	
R&M - General	-	-	-	-	18,000	
Misc - Contingency	10,910	5,045	54,842	59,887	10,543	
Capital Outlay	60,000	34,498	25,503	60,000	60,000	
TOTAL FIELD EXPENDITURES	$	284,754	$	182,119	$	140,153	$	322,272	$	284,653	
Reserves
Reserves - Emergency	
$	27,346	
$	27,346	
$	-	
$	27,346	
$	27,346	
Reserves - Ponds	77,600	77,600	-	77,600	85,000	
TOTAL RESERVES	$	104,946	$	104,946	$	-	$	104,946	$	112,346	
						
TOTAL EXPENDITURES	$	501,769	$	363,989	$	162,553	$	526,367	$	506,752	
						
EXCESS REVENUES (EXPENDITURES)	$	-	$	129,152	$	(129,327)	$	-	$	-	

Stoneybrook West	
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 Income	
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.	
Arbitrage Rebate	
The District has contracted with its independent auditors to annually calculate the arbitrage rebate liability on its
bonds.	
Dissemination Agent	
The bond indenture requests a special annual report on the District’s development activity. The District has contracted
with GMS provide these reports. The amount is based upon the contract.	
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.	
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.	
Trustee Fees	
The District bonds will be held and administered by a Trustee. This represents the trustee annual fee.	
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.	
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.	
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 on an estimate from the insurance provider.	

Stoneybrook West	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

Expenditures - Administrative (continued)	
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.	
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.	
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.	
Property Taxes	
The District anticipates to pay property taxes on parcels.	

Expenditures – Field	

Field Management
The District will contract management services for the operation of the Property and its contractors.	
Lake and Wetland
Scheduled maintenance consists of inspections and treatment of CDD lakes and ponds. Herbiciding will consist of chemical treatments. Algae control will include removal and chemical treatments by Sitex Aquatics.	
Contract - Fountain
The District currently has a contract with Sitex Aquatics to maintain and repair the fountain.	
Contract - Landscape
The District currently has a contract with Bright View landscape service to maintain landscaping throughout the District.	
Contract - Pest Control
The District currently has a contract with Sitex Aquatics to provide pest control services throughout the District.	
Storm Drainage
The District currently has a contract with Sitex Aquatics to provide quarterly storm drainage services.	
Utility - Electric
Electricity accounts with Duke Energy for lighting of the front entry features, gates, streets and fountains.	
R&M - Fountain
This category is for any reapirs and maintenance related to fountains within the District.	
Misc. Contingency
This includes any other miscellaneous expenses incurred during the year.	
Capital Outlay
Major expenses or asset acquisitions the District may incure throughout the year.	

Reserves	
Reserves - Emergency
The District has put aside this fund for any emergency expenditures that may arise.	
Reserves - Ponds
This Reserve fund is assigned for future pond project that the District anticipates.	

Stoneybrook West	
Community Development District	
Proposed Budget	
Capital Reserve Fund	

Adopted Budget	
Actuals Thru	
Projected Next	
Projected Thru	Adopted Budget	
Description	FY2024	6/30/24	3 Months	9/30/24	FY 2025	

REVENUES:

Interest Income	$	-	$	1,278	$	2,200	$	3,478	$	4,800	
Emergency Reserve Funding - Transfer In	27,346	27,346	-	27,346	27,346	
Pond Reserve Funding - Transfer In	77,600	77,600	-	77,600	85,000	
Carry Forward Balance	-	-	-	-	108,184	

TOTAL REVENUES	$	104,946	$	106,224	$	2,200	$	108,424	$	225,330	

EXPENDITURES:

Capital Outlay	$	-	$	-	$	-	$	-	$	-	
Other Current Charges	-	90	150	240	540	

TOTAL EXPENDITURES	$	-	$	90	$	150	$	240	$	540	

EXCESS REVENUES (EXPENDITURES)	$	104,946	$	106,134	$	2,050	$	108,184	$	224,790	

Stoneybrook West	
Community Development District	
Adopted Budget	
Debt Service Series 2018 Special Assessment Bonds	

Adopted Budget	
Actuals Thru	
Projected Next	
Projected Thru	Adopted Budget	
Description	FY2024	6/30/24	3 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments-On Roll	$	497,689	$	488,583	$	24,893	$	513,475	$	497,688	
Interest Earnings	11	11,918	1,500	13,418	5,000	
Carry Forward Surplus (1)	-	119,025	-	119,025	142,646	

TOTAL REVENUES	$	497,700	$	619,526	$	26,393	$	645,919	$	645,334	

EXPENDITURES:

Interest A1	$	18,200	$	18,200	$	-	$	18,200	$	16,962	
Interest A2	122,072	122,072	-	122,072	110,360	
Principal A1	34,000	34,000	-	34,000	35,000	
Principal A2	329,000	329,000	-	329,000	341,000	

TOTAL EXPENDITURES	$	503,272	$	503,272	$	-	$	503,272	$	503,322	

EXCESS REVENUES (EXPENDITURES)	$	(5,573)	$	116,254	$	26,393	$	142,646	$	142,012	

Interest Due 11/1/25	$56,954.40	
		$56,954.40 	

(1) Carry Forward is Net of Reserve Requirement

Stoneybrook West	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2018 Special Assessment Bonds A-1	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

11/01/23	$	500,000	3.640%	$	-	$	9,100	$	9,100	
05/01/24	500,000	3.640%	34,000	9,100		
11/01/24	466,000	3.640%	-	8,481	51,581	
05/01/25	466,000	3.640%	35,000	8,481		
11/01/25	431,000	3.640%	-	7,844	51,325	
05/01/26	431,000	3.640%	36,000	7,844		
11/01/26	395,000	3.640%	-	7,189	51,033	
05/01/27	395,000	3.640%	38,000	7,189		
11/01/27	357,000	3.640%	-	6,497	51,686	
05/01/28	357,000	3.640%	39,000	6,497		
11/01/28	318,000	3.640%	-	5,788	51,285	
05/01/29	318,000	3.640%	41,000	5,788		
11/01/29	277,000	3.640%	-	5,041	51,829	
05/01/30	277,000	3.640%	42,000	5,041		
11/01/30	235,000	3.640%	-	4,277	51,318	
05/01/31	235,000	3.640%	44,000	4,277		
11/01/31	191,000	3.640%	-	3,476	51,753	
05/01/32	191,000	3.640%	$	45,000	3,476		
11/01/32	146,000	3.640%	-	2,657	51,133	
05/01/33	146,000	3.640%	47,000	2,657		
11/01/33	99,000	3.640%	-	1,802	51,459	
05/01/34	99,000	3.640%	49,000	1,802		
11/01/34	50,000	3.640%	-	910	51,712	
05/01/35	50,000	3.640%	50,000	910	50,910	

Total	$	500,000	$	126,126	$	626,126	

Stoneybrook West	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2018 Special Assessment Bonds A-2	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

11/01/23	$	3,429,000	3.560%	$	-	$	61,036	$	61,036	
05/01/24	3,429,000	3.560%	329,000	61,036		
11/01/24	3,100,000	3.560%	-	55,180	$	445,216	
05/01/25	3,100,000	3.560%	341,000	55,180		
11/01/25	2,759,000	3.560%	-	49,110	$	445,290	
05/01/26	2,759,000	3.560%	353,000	49,110		
11/01/26	2,406,000	3.560%	-	$	42,827	$	444,937	
05/01/27	2,406,000	3.560%	366,000	42,827		
11/01/27	2,040,000	3.560%	-	36,312	$	445,139	
05/01/28	2,040,000	3.560%	380,000	36,312		
11/01/28	1,660,000	3.560%	-	29,548	$	445,860	
05/01/29	1,660,000	3.560%	393,000	29,548		
11/01/29	1,267,000	3.560%	-	22,553	$	445,101	
05/01/30	1,267,000	3.560%	407,000	22,553		
11/01/30	860,000	3.560%	-	15,308	$	444,861	
05/01/31	860,000	3.560%	422,000	15,308		
11/01/31	438,000	3.560%	-	7,796	$	445,104	
05/01/32	438,000	3.560%	438,000	7,796	$	445,796	

Total	$	3,429,000	$	639,340	$	4,068,340	

Stoneybrook West	
Community Development District	
Non-Ad Valorem Assessments Comparison	
2024-2025	

Neighborhood Type	O&M Units	Bonds Units
2018	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)	

TH	
186	
186	
$195.81	
$308.12	
-$112.31	
$185.65	
$185.65	
$0.00	
$381.46	
$493.77	
-$112.31	
40	350	350	$199.50	$193.57	$5.93	$194.49	$194.49	$0.00	$393.99	$388.06	$5.93	
40.5	112	111	$181.17	$193.57	-$12.40	$185.65	$185.65	$0.00	$366.82	$379.22	-$12.40	
50	589	588	$296.38	$308.12	-$11.74	$267.65	$267.65	$0.00	$564.03	$575.77	-$11.74	
60	472	472	$342.85	$308.12	$34.73	$350.62	$350.62	$0.00	$693.47	$658.74	$34.73	
75	138	138	$377.91	$308.12	$69.79	$475.52	$475.52	$0.00	$853.43	$783.64	$69.79	
90	27	27	$416.78	$308.12	$108.66	$657.53	$657.53	$0.00	$1,074.31	$965.65	$108.66	
Total	1874	1872										

Page 8