Bent Creek	
Community Development District	

Adopted Budget	
FY 2025	

Table of Contents

1	General Fund

2-3	Narratives

4-5	Debt Service Fund Series 2021

6	Assessment Schedule

Bent Creek	
Community Development District	
Adopted Budget	
General Fund	

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

REVENUES:

Special Assessments - On Roll	$43,028	$44,080	$-	$44,080	$69,176	
Special Assessments - Direct	26,146	31,896	-	31,896	-	
Misc. Income	-	450	-	450	-	

TOTAL REVENUES	$69,175	$76,426	$-	$76,426	$69,176	

EXPENDITURES:

Administrative						
Engineering	$5,000	$-	$2,675	$2,675	$5,000	
Attorney	12,500	4,754	2,500	7,254	8,000	
Annual Audit	3,150	2,775	-	2,775	3,000	
Assessment Administration	2,000	2,000	-	2,000	2,200	
Property Appraiser	2,300	3,964	-	3,964	4,000	
Dissemination Agent	2,500	1,875	625	2,500	2,750	
Trustee Fees	4,200	-	4,041	4,041	4,041	
Management Fees	26,250	19,688	6,562	26,250	28,875	
Information Technology	600	450	150	600	660	
Website Maintenance	1,500	1,125	375	1,500	1,650	
Postage & Delivery	300	9	50	59	300	
Insurance General Liability	6,450	5,590	-	5,590	6,150	
Printing & Binding	250	18	100	118	150	
Legal Advertising	1,000	-	750	750	1,000	
Other Current Charges	850	1,023	350	1,373	1,175	
Office Supplies	150	-	50	50	50	
Dues, Licenses & Subscriptions	175	175	-	175	175	

TOTAL ADMINISTRATIVE	$69,175	$43,446	$18,228	$61,674	$69,176	

TOTAL EXPENDITURES	$69,175	$43,446	$18,228	$61,674	$69,176	

Other Sources/(Uses)

-	-	-	-	

Interfund Transfer In/(Out)

TOTAL OTHER SOURCES/(USES)	$-	$-	$-	$-	$-	

EXCESS REVENUES (EXPENDITURES)	$-	$32,980	$(18,228)	$14,752	$-	

Bent Creek	
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.	
Special Assessments-Direct	
The District will bill a Non-Ad Valorem assessment on un platted parcels within the District in order to pay for the operating expenditures during the Fiscal Year.	

Expenditures - Administrative	

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 Administration	
GMS SF, LLC provides assessment services for closing lot sales, assessment roll services with the local Tax Collector and financial advisory services.	
Property Appraiser	
The cost from the County to include the CDD Tax Roll on the County Trim Notices and invoices.	
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.	
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 upon similar Community Development Districts.	

Bent Creek	
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.	
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 Department of Economic Opportunity Community Affairs for $175.	

Bent Creek	
Community Development District	
Adopted Budget	
Debt Service Series 2021 Special Assessment Bonds	

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

REVENUES:

Special Assessments-On Roll	$139,334	$142,386	$-	$142,386	$224,001	
Special Assessments-Direct	$84,667	103,283	-	103,283	-	
Interest Earnings	-	8,009	2,000	10,009	-	
Carry Forward Surplus (1)	79,282	35,941	-	35,941	63,013	

TOTAL REVENUES	$303,283	$289,619	$2,000	$291,619	$287,014	

EXPENDITURES:

Interest Expense - 12/15	$67,064	$67,064	$-	$67,064	$65,996	
Interest Expense - 06/15	67,064	67,064	-	67,064	65,996	
Principal Expense - 06/15	85,000	90,000	-	90,000	90,000	

TOTAL EXPENDITURES	$219,129	$224,129	$-	$224,129	$221,991	

Other Sources/(Uses)

Interfund transfer In/(Out)	$-	$(4,027)	$(450)	$(4,477)	$-	

TOTAL OTHER SOURCES/(USES)	$-	$(4,027)	$(450)	$(4,477)	$-	

TOTAL EXPENDITURES	$219,129	$228,156	$450	$228,606	$221,991	

EXCESS REVENUES (EXPENDITURES)	$84,155	$61,463	$1,550	$63,013	$65,023	

Interest Due 12/15/25	$64,926.88	
		$64,926.88 	

(1) Carry Forward is Net of Reserve Requirement

Bent Creek	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2021 Special Assessment Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

12/15/21	$4,050,000	2.375%	$-	$52,964	52,963.73	
06/15/22	4,050,000	2.375%	85,000	69,083		
12/15/22	3,965,000	2.375%	-	68,074	222,156.88	
06/15/23	3,965,000	2.375%	85,000	68,074		
12/15/23	3,880,000	2.375%	-	67,064	220,138.13	
06/15/24	3,880,000	2.375%	90,000	67,064		
12/15/24	3,790,000	2.375%	-	65,996	223,060.00	
06/15/25	3,790,000	2.375%	90,000	65,996		
12/15/25	3,700,000	2.375%	-	64,927	220,922.50	
06/15/26	3,700,000	2.375%	95,000	64,927		
12/15/26	3,605,000	2.850%	-	63,799	223,725.63	
06/15/27	3,605,000	2.850%	95,000	63,799		
12/15/27	3,510,000	2.850%	-	62,445	221,243.75	
06/15/28	3,510,000	2.850%	100,000	62,445		
12/15/28	3,410,000	2.850%	-	61,020	223,465.00	
06/15/29	3,410,000	2.850%	100,000	61,020		
12/15/29	3,310,000	2.850%	-	59,595	220,615.00	
06/15/30	3,310,000	2.850%	105,000	59,595		
12/15/30	3,205,000	2.850%	-	58,099	222,693.75	
06/15/31	3,205,000	2.850%	105,000	58,099		
12/15/31	3,100,000	3.150%	-	56,603	219,701.25	
06/15/32	3,100,000	3.150%	110,000	56,603		
12/15/32	2,990,000	3.150%	-	54,870	221,472.50	
06/15/33	2,990,000	3.150%	115,000	54,870		
12/15/33	2,875,000	3.150%	-	53,059	222,928.75	
06/15/34	2,875,000	3.150%	115,000	53,059		
12/15/34	2,760,000	3.150%	-	51,248	219,306.25	
06/15/35	2,760,000	3.150%	120,000	51,248		
12/15/34	2,640,000	3.150%	-	49,358	220,605.00	
06/15/36	2,640,000	3.150%	125,000	49,358		
12/15/36	2,515,000	3.150%	-	47,389	221,746.25	
06/15/37	2,515,000	3.150%	130,000	47,389		
12/15/37	2,385,000	3.150%	-	45,341	222,730.00	
06/15/38	2,385,000	3.150%	135,000	45,341		
12/15/38	2,250,000	3.150%	-	43,215	223,556.25	
06/15/39	2,250,000	3.150%	135,000	43,215		
12/15/39	2,115,000	3.150%	-	41,089	219,303.75	
06/15/40	2,115,000	3.150%	140,000	41,089		
12/15/40	1,975,000	3.150%	-	38,884	219,972.50	
06/15/41	1,975,000	3.150%	145,000	38,884		
12/15/41	1,830,000	4.000%	-	36,600	220,483.75	
06/15/42	1,830,000	4.000%	150,000	36,600		
12/15/42	1,680,000	4.000%	-	33,600	220,200.00	
06/15/43	1,680,000	4.000%	160,000	33,600		
12/15/43	1,520,000	4.000%	-	30,400	224,000.00	
06/15/44	1,520,000	4.000%	165,000	30,400		
12/15/44	1,355,000	4.000%	-	27,100	222,500.00	
06/15/45	1,355,000	4.000%	170,000	27,100		
12/15/45	1,185,000	4.000%	-	23,700	220,800.00	
06/15/46	1,185,000	4.000%	180,000	23,700		
12/15/46	1,005,000	4.000%	-	20,100	223,800.00	
06/15/47	1,005,000	4.000%	185,000	20,100		
12/15/47	820,000	4.000%	-	16,400	221,500.00	
06/15/48	820,000	4.000%	195,000	16,400		
12/15/48	625,000	4.000%	-	12,500	223,900.00	
06/15/49	625,000	4.000%	200,000	12,500		
12/15/49	425,000	4.000%	-	8,500	221,000.00	
06/15/50	425,000	4.000%	210,000	8,500		
12/15/50	215,000	4.000%	-	4,300	222,800.00	
06/15/51	215,000	4.000%	215,000	4,300	219,300.00	

Total	$4,050,000	$2,652,591	$6,702,591	

Bent Creek	
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	
336	
336	
$223.78	
$223.78	
$0.00	
$724.64	
$724.64	
$0.00	
$948.42	
$948.42	
$0.00	
Total	336	336