Amended Budget
Fiscal Year 2023

Palm Glades Community Development District

November 14, 2023

Gov•rnm•ntal
Mana9ement Services

Palm Glades	
Community Development District	

TABLE OF CONTENTS

General Fund	
Budget	
Narrative	

Page 1-2	
Page 3-7	

Capital Reserve Fund	
Budget	

Page 8

Debt Service Fund

Series 2016	
Budget	
Amortization Schedule - 2016	

Page 9	
Page 10	

Series 2017	
Budget	
Amortization Schedule - 2017	

Page 11	
Page 12	

Series 2018A1/A2 - Series 2018	
Budget	
Amortization Schedule - 2018A1	
Amortization Schedule - 2018A2	

Page 13	
Page 14	
Page 15	

Series 2020	
Budget	
Amortization Schedule - 2020	

Page 16	
Page 17	

Series 2021	
Budget	
Amortization Schedule - 2021	

Page 18	
Page 19	

Palm Glades	
Community Development District	

General Fund

FY2022	Actual	Projected	Total	FY2023	
Adopted	thru	Next	Projected at	Amended	
Description	Budget	3/31/2022	6 Months	9/30/2022	Budget	

Revenues	
Maintenance Assessments	
Interest Income	
Access Cards	
Guess Passes	
Non-Residential Memberships	
Key Card/Replacements	
Resident Events	
Carry Forward	

$2,585,061	
$1,000	
$0	
$0	
$0	
$0	
$0	
$0	

$2,452,097	
$1,174	
$5,002	
$27,000	
$0	
$0	
$0	
$0	

$132,964	
$1,174	
$5,000	
$0	
$0	
$0	
$0	
$0	

$2,585,061	
$2,347	
$10,002	
$27,000	
$0	
$0	
$0	
$0	

$2,596,612	
$49,074	
$2,765	
$721	
$7,728	
$630	
$10	
$36,507	

Total Revenues	  $2,586,061 	  $2,485,272 		$139,138 		$2,624,410 		$2,705,592 

Expenditures

Administrative	
Supervisors Fee	
FICA Expense	
Engineering Fees	
Arbitrage Rebate	
Dissemination Agent	
Attorney Fees	
Annual Audit	
Trustee Fees	
Assessment Roll	
Management Fees	
Website Administration	
Telephone	
Postage	
Printing & Binding	
Rentals & Leases	
Insurance General Liability	
Legal Advertising	
Other Current Charges	
Office Supplies	
Dues, Licenses	
Capital Outlay	
Total Administrative	

$9,600	
$734	
$10,000	
$2,400	
$2,500	
$40,000	
$5,400	
$20,500	
$2,000	
$43,353	
$3,000	
$100	
$1,000	
$2,900	
$2,400	
$7,154	
$2,600	
$1,050	
$260	
$175	
     $250 	
   $157,376 	

$4,000	
$306	
$500	
$0	
$1,250	
$21,698	
$0	
$4,000	
$2,000	
$21,677	
$1,250	
$0	
$249	
$1,506	
$1,200	
$6,731	
$1,776	
$464	
$367	
$175	
       $0 	
    $69,149 	

$4,800	$8,800	
$367	$673	
$9,500	$10,000	
$2,400	$2,400	
$1,250	$2,500	
$18,303	$40,000	
$5,400	$5,400	
$20,000	$24,000	
$0	$2,000	
$21,677	$43,353	
$1,750	$3,000	
$50	$50	
$500	$749	
$1,394	$2,900	
$1,200	$2,400	
$0	$6,731	
$1,000	$2,776	
$586	$1,050	
$300	$667	
$0	$175	
     $175 		$175 	
    $90,651 		$159,800 	

$7,200	
$551	
$665	
$1,800	
$2,500	
$43,568	
$6,900	
$24,000	
$2,000	
$45,521	
$3,000	
$0	
$732	
$1,998	
$2,400	
$9,801	
$539	
$216	
$123	
$175	
        $0 	
    $153,687 	

Field	
Landscape Maintenance	
Porter Service	
Mulch	
Tree Trimming & Palm Pruning	
Landscape Fertilization & Pest Control	
Annuals	
Plants Replacement	
Irrigation System	
Irrigation Repairs	
Electricity	
Refuse	
Entrance Maintenance & Repairs	
Janitorial Supplies	
Lake Maintenance	
Lake Debris Removal	
Cleaning of Drainage System	
Pressure Cleaning - Sidewalk	
Field Management	
Security Services	
Holiday Decorations	
Sidewalk Repairs	
Contingency	
Capital Reserves	
Total Field	

$191,000	
$79,560	
$62,000	
$39,000	
$43,870	
$15,000	
$39,000	
$22,800	
$15,000	
$28,000	
$14,704	
$20,000	
$4,200	
$13,500	
$3,600	
$22,000	
$18,600	
$19,500	
$527,000	
$17,400	
$50,000	
$94,800	
   $275,000 	
  $1,615,534 	

$81,527	
$31,824	
$38,186	
$34,764	
$18,450	
$4,476	
$25,999	
$9,500	
$14,678	
$14,435	
$7,585	
$18,808	
$0	
$4,757	
$0	
$18,700	
$20,455	
$9,750	
$253,913	
$7,562	
$34,856	
$11,069	
   $175,000 	
   $836,295 	

$109,364	
$47,736	
$23,814	
$0	
$25,420	
$10,524	
$13,001	
$13,300	
$322	
$13,565	
$7,118	
$1,192	
$4,200	
$4,663	
$3,600	
$3,300	
$0	
$9,750	
$273,087	
$0	
$15,144	
$83,731	
   $100,000 	
   $762,829 	

$190,890	
$79,560	
$62,000	
$34,764	
$43,870	
$15,000	
$39,000	
$22,800	
$15,000	
$28,000	
$14,704	
$20,000	
$4,200	
$9,420	
$3,600	
$22,000	
$20,455	
$19,500	
$527,000	
$7,562	
$50,000	
$94,800	
    $275,000 	
   $1,599,124 	

$200,435	
$79,560	
$67,703	
$39,000	
$43,870	
$15,000	
$70,000	
$23,940	
$40,000	
$35,442	
$16,118	
$21,230	
$1,000	
$13,500	
$1,000	
$22,000	
$34,700	
$20,475	
$542,810	
$17,400	
$66,525	
$55,238	
     $275,000 	
   $1,701,945 	

Palm Glades
Community Development District	General Fund

FY2022	Actual	Projected	Total	FY2023
Adopted	thru	Next	Projected at	Amended
Description	Budget	3/31/2022	6 Months	9/30/2022	Budget	

Clubhouse		
Access Control (cards, systems, cameras main	$5,000		$0		$5,000		$5,000		$500	
Air Conditioning Maintenance	$5,000		$3,327		$1,673		$5,000		$6,067	
Basketball Court Repairs and Maintenance	$10,000		$0		$10,000		$10,000		$500	
Cable & Internet Service	$9,000		$1,766		$5,298		$7,064		$4,624	
Circuit Training Equipment Maintenance	$6,350		$5,020		$1,330		$6,350		$7,325	
Sauna Equipment Maintenance	$3,500		$2,700		$800		$3,500		$500	
Electricity	$45,000		$19,688		$25,312		$45,000		$45,000	
Fire Alarm & Building Alarm Monitoring	$3,300		$2,590		$2,910		$5,500		$7,642	
Gazebo and Trellis Repairs and Maintenance	$11,000		$13,000		($2,000)		$11,000		$4,234	
Holiday Decorations	$6,731		$2,853		$3,878		$6,731		$6,731	
Insurance Property	$38,259		$37,714		$0		$37,714		$40,560	
Irrigation Repairs and Maintenance	$5,000		$3,260		$1,740		$5,000		$1,500	
Janitorial Service	$52,000		$25,967		$39,000		$64,967		$57,604	
Janitorial Supplies	$5,200		$0		$5,200		$5,200		$200	
Landscape Maintenance	$30,540		$11,760		$11,760		$23,520		$23,520	
Landscape Replacement (Includes Mulching)	$26,176		$0		$26,176		$0		$67,498	
Management Fees	$226,875		$88,597		$138,278		$226,875		$254,360	
Office Equipment Maintenance	$5,000		$0		$5,000		$5,000		$500	
Office Supplies/Clubhouse Supplies	$11,000		$4,827		$6,173		$11,000		$22,266	
Pest Control-Interior & Exterior	$8,400		$4,214		$4,986		$9,200		$5,639	
Pool, Spa and Waterpark Maintenance	$45,000		$17,100		$17,100		$34,200		$30,395	
Pool, Spa and Waterpark Repairs	$32,500		$1,628		$30,872		$32,500		$32,500	
Printing & Postage	$2,400		$0		$2,400		$2,400		$400	
Property Taxes	$500		$465		$35		$500		$500	
Repairs/Maintenance & Supplies (General)	$50,000		$36,069		$13,931		$50,000		$50,000	
Residential Social Expenses	$20,000		$15,604		$15,604		$31,209		$35,472	
Security	$66,670		$30,372		$36,298		$66,670		$76,778	
Telephone	$700		$308		$298		$606		$700	
Trash Collection/Recycling	$6,500		$0		$6,500		$6,500		$500	
Water & Sewer	$8,000		$2,144		$5,856		$8,000		$8,520	
Window Cleaning/Pressure Cleaning	$4,000		$0		$4,000		$4,000		$500	
Contingency		$63,550 			$11,805 			$51,745 			$63,550 			$56,926 	
Total Clubhouse		$813,151 			$342,778 			$477,154 			$793,756 			$849,960 	
Total Other Financing Sources/(Uses)		$0 			$0 			$0 			$0 			$0 	
Excess Revenues/Expenditures		$0 		  $1,237,051 		  ($1,191,497) 			$71,730 			$0 	

FY 2021	FY 2022	FY 2023	
Net Assessments - Adm. & Field	$1,039,554	$1,772,160	$1,806,558	
Plus Collection Fees (5%)		$54,713 		$93,272 		$95,082 	
Gross Assessments - Adm. & Field	$1,094,267	$1,865,432	$1,901,640	
No. of Units	1,755	1,784	1,784	
Gross Per Unit Assessments - Adm. & Field	$611.86	$1,045.65	$1,065.94	
Net Assessments - Clubhouse	$773,597	$812,901	$849,960	
Plus Collection Fees (5%)		$40,716 		$42,784 		$44,735 	
Gross Assessments - Clubhouse	$814,313	$855,686	$894,694	
No. of Units	1,712	1,741	1,741	
 Gross Per Unit Assessments - Clubhouse	$475.65 		$491.49 		$513.90 	
Total Gross Assessments	$1,908,580	$2,721,117	$2,796,334	
Total Net Assessments	$1,813,151	$2,585,061	$2,656,518	

Palm Glades
Community Development District	General Fund

REVENUES:

Maintenance Assessments
The District will levy a Non-Ad Valorem assessment on all the platted lots within the District to pay all of the operating expenses for the Fiscal Year in accordance with the adopted budget.

Interest Income
The District will have all excess funds invested with the State Board of Administration. The Amount is based upon the estimated average balance of funds available during the fiscal year.

EXPENDITURES:

Administrative:

Supervisor Fees
The Florida Statutes allows each board member to receive $200 per meeting not to exceed $4,800 in one year. The amount for the fiscal year is based upon all five supervisors attending the estimated 12 annual meetings.

FICA Expense
Represents the Employer's share of Social Security and Medicare taxes withheld from Board of Supervisors checks.

Engineering Fees
The District's engineer will be providing general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review invoices, etc.

Arbitrage
The District is required to have an annual arbitrage rebate calculation on the District’s Bonds. The District will contract with an independent auditing firm to perform the calculations.

Dissemination
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.

Attorney Fees
The District's legal counsel will be providing general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating & maintenance contracts, etc.

Annual Audit
The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm.

Trustee Fees
The District will issue bonds to be held with a Trustee at Wells Fargo Bank. The amount of the trustee fees is based on the agreement between Wells Fargo Bank and the District.

Assessment Roll
The District receives Annual Assessment Administration of 1% of assessments not to exceed $2,000. Annually by GMS, SF, LLC.

Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services – South Florida, LLC. These services are further outlined in Exhibit "A" of the Management Agreement.

Website Administration
The District maintains a website for the homeowners which are kept to date by GMS, S. FL

Telephone
Telephone and fax machine.

Postage

Palm Glades
Community Development District	General Fund

Mailing of agenda packages, overnight deliveries, correspondence, etc.

Administrative: (continued)

Printing & Binding
Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc.

Rentals & Leases
The District will be charged $200 per month for office rent from Governmental Management Services – South Florida, LLC for the District's administrative office located in Ft. Lauderdale.

Insurance
The District's General Liability & Public Officials Liability Insurance policy is with Florida Insurance Alliance (FIA). Florida Insurance Alliance specializes in providing insurance coverage to governmental agencies. The amount is based upon similar Community Development Districts.

Legal Advertising
The District is required to advertise various notices for monthly Board meetings, public hearings etc in a newspaper of general circulation.

Other Current Charges
Bank charges and any other miscellaneous expenses that incurred during the year.

Office Supplies
Miscellaneous office supplies.

Dues, Licenses & Subscriptions
The District is required to pay an annual fee to the Department of Economic Opportunity for $175. This is the only expense under this category for the District.

Capital Outlay
Represents any minor capital expenditures the District may need to make during the Fiscal Year such as a file cabinet for District files.

Field:

Landscape Maintenance
The District has a contract with Brightview Landscaping Company for the maintenance of the Common Areas only. Includes grass cutting and edging. Irrigation monthly wet check, quarterly fertilization, bi-monthly pest control and weed control. Additional services as requested by the District not included. Janitorial Services have also been included as part of the contract with Brightview.

Porter Services
This represents various cleanups and maintenance throughout the District.

Mulch
The District will go into a contract for the mulching of Common Areas only.

Tree Trimming & Palm Pruning
The District will go into contract for the maintenance of tress which includes trimming of tress in the Common Areas only.

Landscape Fertilization & Pest Control
The District will go into contract for the fertilization of the palm trees on the Common Areas only.

Plants Replacement
The District will go into contract for the replacement of plants needed along the common areas.

Irrigation System
The District will go into contract for the maintenance of the irrigation system.

Irrigation Repairs
The District will go into contract for the repairs of the District’s irrigation system.

Palm Glades
Community Development District	General Fund

Electricity
FPL provides electricity for Common Area Lighting.

Field: (continued)

Refuse
The District has a contract with Waste Connections of Florida for monthly refuse service.

Entrance Maintenance & Repairs
The District will go into contract for the maintenance and repairs of the entrance.

Janitorial Services
The District has contracted with Brightview to conduct these services. This contract includes one (1) full time janitor for 40 hours per week. There is another Porter included in the current landscape agreement.

Janitorial Supplies
This includes any supplies needed for the maintenance of the common areas from Janitorial services.

Lake Maintenance
The District has a contract with Solitude Lake Management for the monthly cleaning of all lakes.

Lake Debris Removal
The District has a contract with Brightview Landscaping Company monthly debris removal from all lakes

Cleaning of Drainage System
The District will contract a company to clean the drainage system

Pressure Cleaning – Sidewalk
The District has contracted a company do pressure clean the sidewalks

Field Management
The District has a contract Governmental Management Services, South Florida, LLC for on-site management. The responsibilities include reviewing contracts and other maintenance related items.

Security Services
The District has a contract with Delta Five Security for security services

Special Security Services
The District will go into contract to have police officers patrol the areas.

Holiday Decorations
The District will hire a company to decorate the common grounds for the holidays.

Sidewalk Repairs
The District will contract a company for the repairs of the sidewalks.

Contingency
Any unbudgeted miscellaneous items.

Capital Reserves
Funds reserved for any unanticipated and unscheduled cost to the District.

Clubhouse Maintenance:

Access Control
Includes camera monthly fee, also includes access cards and repairs.

Air Conditioning Maintenance Contract
Estimated cost to maintain the air conditioning system.

Basketball Court Repairs and Maintenance

Palm Glades
Community Development District	General Fund

Estimated cost to maintain the basketball courts.

Cable and Internet
Estimated cost of cable TV and internet for the Club with Comcast and Ark Solvers as needed.

Club House: (continued)

Circuit Training Equipment Maintenance
Estimated cost to maintain the circuit training equipment.

Sauna Equipment Maintenance
Estimated cost to maintain the sauna equipment.

Electricity
FPL provides electricity for the club house.

Fire Alarm & Building Alarm Monitoring
Estimated cost of the fire alarm and building alarm monitoring services.

Gazebo and Trellis Repairs and Maintenance
Estimated cost of the repairs for the gazebo and trellis repairs and maintenance.

Holiday Decorations
The District will hire a company to decorate the common grounds for the holidays.

Insurance
The District's property insurance is with Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Irrigation Maintenance
Irrigation system within the clubhouse areas, which includes monthly wet check and irrigation system repair materials.

Janitorial Services
The District has contracted with All professional Cleaning to conduct these services. This contract includes one (1) full time janitor for 40 hours per week.

Janitorial Supplies
Include additional janitorial supplies not provided by contract.

Landscape Maintenance
Maintaining the lawn and plants around the club.

Landscape Replacement
(Includes Mulching) that this line item includes plant replacement and mulching once a year.

Management Fees
Onsite management fees for the clubhouse.

Office Equipment Maintenance
Reflects the maintenance agreement for the copier plus any repairs to other office equipment.

Office Supplies/Clubhouse Supplies
Supplies to run Club and Club Office.

Pest Control
Preventative maintenance for bugs and rodents.

Pool, Spa and Waterpark Maintenance
Cost to maintain the pool, does not include repairs.

Palm Glades
Community Development District	General Fund

Pool, Spa and Waterpark Repairs
Cost to make unanticipated repairs to the pool.

Printing and Postage
The cost of any printing and postage associated with the club house.

Property Taxes
The counties property taxes for the club house

Club House: (continued)

Repairs/Maintenance & Supplies
Maintenance expenditures required to repair and maintain the Club.

Residential Social Expenses
Expenses related to Social Events.

Security
Night watch as needed.

Telephone
Cost of telephone lines for telephone, internet, fax and alarm systems.

Trash Collection/Recycling
Cost of trash and recycling removal.

Water & Sewer
Water and sewer cost for the Club.

Window Cleaning/Pressure Cleaning
Cost of cleaning the windows and pressure cleaning

Contingency
Any unscheduled repairs and maintenance that the District should incur during the fiscal year.

Palm Glades	
Community Development District	

Capital Reserve Fund

FY2022	Actual	Projected	Total	FY2023	
Adopted	through	Next	Projected	Amended	
Description	Budget	3/31/2022	6 Months	9/30/2022	Budget	

Revenues	
Interest Income	
Capital Reserve Contribution	
Carry Forward Surplus (1)	

$250	
$275,000	
$249,842	

$112	
$175,000	
$74,855	

$138	
$100,000	
$0	

$250	
$275,000	
$74,855	

$250	
$275,000	
$349,755	

Total Revenues

Expenditures

Other Current Charges/Bank		$525,092 

$350			$249,967 

$161			$100,138 

$189			$350,105 

$350			$625,005 

$350	
Total Expenditures		$350 			$161 			$189 			$350 			$350 	
Excess Revenues/(Expenditures)		$524,742 			$249,807 			$99,948 			$349,755 			$624,655 	

Palm Glades	
Community Development District	

 	
Debt Service	
Series 2016 Special Assessment Refunding Bonds	

FY2022	Actual	Projected	Total	FY2023	
Adopted	through	Next	Projected	Amended	
Description	Budget	3/31/2022	6 Months	9/30/2022	Budget	

Revenues	
Special Assessments	
Interest Income	
Carry Forward Surplus (1)	

$899,599	
$0	
$465,377	

$861,850	
$26	
$469,052	

$37,748	
$26	
$0	

$899,599	
$52	
$469,052	

$899,599	
$0	
$483,515	

Total Revenues		$1,364,976 		$1,330,928 		$37,774 		$1,368,703 		$1,383,114 

Expenditures

Interest 11/1	
Principal - 5/1	
Interest - 5/1	

$182,594	
$520,000	
$182,594	

$182,594	$0	
$0	$520,000	
$0	$182,594	

$182,594	
$520,000	
$182,594	

$176,094	
$530,000	
$176,094	

Total Expenditures		$885,188 			$182,594 					$882,188 	
Excess Revenues/(Expenditures)		$479,788 			$1,148,335 					$500,926 	
					Interest Payment - 11/1/2023		$168,806	

	$702,594 			$885,188 	
	($664,820) 			$483,515 	

(1) Carry forward surplus is net of Reserve requirement.
No. of Units	FY2023	
Net Assessments
Plus Collection Fees (5%) Gross Assessments
Gross Single Family Per Unit	372
Gross Multi-family Per Unit	563	$899,599	
		$47,347 	
	$946,946	
	$1,088	
	$963	

Palm Glades	
Community Development District	

 	
Series 2016, Special Assessment Refunding Bonds	
Amortization Schedule	

DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL	

11/01/19	$11,015,000	$0	$193,900	$0	
05/01/20	$11,015,000	$500,000	$193,900	$887,800	
11/01/20	$10,515,000	$0	$188,275	$0	
05/01/21	$10,515,000	$505,000	$188,275	$881,550	
11/01/21	$10,010,000	$0	$182,594	$0	
05/01/22	$10,010,000	$520,000	$182,594	$885,188	
11/01/22	$9,490,000	$0	$176,094	$0	
05/01/23	$9,490,000	$530,000	$176,094	$882,188	
11/01/23	$8,960,000	$0	$168,806	$0	
05/01/24	$8,960,000	$550,000	$168,806	$887,613	
11/01/24	$8,410,000	$0	$160,556	$0	
05/01/25	$8,410,000	$565,000	$160,556	$886,113	
11/01/25	$7,845,000	$0	$152,081	$0	
05/01/26	$7,845,000	$580,000	$152,081	$884,163	
11/01/26	$7,265,000	$0	$141,206	$0	
05/01/27	$7,265,000	$605,000	$141,206	$887,413	
11/01/27	$6,660,000	$0	$129,863	$0	
05/01/28	$6,660,000	$630,000	$129,863	$889,725	
11/01/28	$6,030,000	$0	$118,050	$0	
05/01/29	$6,030,000	$655,000	$118,050	$891,100	
11/01/29	$5,375,000	$0	$105,769	$0	
05/01/30	$5,375,000	$680,000	$105,769	$891,538	
11/01/30	$4,695,000	$0	$93,019	$0	
05/01/31	$4,695,000	$705,000	$93,019	$891,038	
11/01/31	$3,990,000	$0	$79,800	$0	
05/01/32	$3,990,000	$735,000	$79,800	$894,600	
11/01/32	$3,255,000	$0	$65,100	$0	
05/01/33	$3,255,000	$765,000	$65,100	$895,200	
11/01/33	$2,490,000	$0	$49,800	$0	
05/01/34	$2,490,000	$795,000	$49,800	$894,600	
11/01/34	$1,695,000	$0	$33,900	$0	
05/01/35	$1,695,000	$830,000	$33,900	$897,800	
11/01/35	$865,000	$0	$17,300	$0	
05/01/36	$865,000	$865,000	$17,300	$899,600	

$11,015,000	$4,112,225	$15,127,225	

Palm Glades	
Community Development District	

 	
Debt Service	
Series 2017 Special Assessment Refunding Bonds	

FY2022	Actual	Projected	Total	FY2023	
Adopted	through	Next	Projected	Amended	
Description	Budget	3/31/2022	6 Months	9/30/2022	Budget	

Revenues	
Special Assessments	
Interest Income	
Carry Forward Surplus (1)	

$727,253	
$0	
$248,183	

$706,564	
$27	
$250,845	

$20,689	
$27	
$0	

$727,253	
$53	
$250,845	

$727,253	
$0	
$245,851	

Total Revenues		$975,436 		$957,435 		$20,716 		$978,151 		$973,104 

	$526,150 			$732,300 	
	($505,434) 			$245,851 	

Expenditures

Interest Expense - 11/1	
Interest Expense - 5/1	
Principal Expense - 5/1	

$206,150	
$206,150	
$320,000	

$206,150	
$0	
$0	

$0	
$206,150	
$320,000	

$206,150	
$206,150	
$320,000	

$199,750	
$199,750	
$330,000	

Total Expenditures		$732,300 			$206,150 					$729,500 	
Excess Revenues/(Expenditures)		$243,136 			$751,285 					$243,604 	

(1) Carry forward surplus is net of Reserve requirement.					Interest Payment - 11/1/2023		$193,150	

No. of Units	FY2023	
Net Assessments
Plus Collection Fees (5%) Gross Assessments
Gross Single Family Per Unit	413
Gross Multy-family Per Unit	364	$727,253	
		$38,276 	
	$765,529	
	$1,039	
	$924	

Palm Glades	
Community Development District	

 	
Series 2017 Special Assessments Refunding Bonds	
Amortization Schedule	

DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL	

11/01/19	$9,270,000	$0	$216,650	$0	
05/01/20	$9,270,000	$295,000	$216,650	$728,300	
11/01/20	$8,975,000	$0	$211,488	$0	
05/01/21	$8,975,000	$305,000	$211,488	$727,975	
11/01/21	$8,670,000	$0	$206,150	$0	
05/01/22	$8,670,000	$320,000	$206,150	$732,300	
11/01/22	$8,350,000	$0	$199,750	$0	
05/01/23	$8,350,000	$330,000	$199,750	$729,500	
11/01/23	$8,020,000	$0	$193,150	$0	
05/01/24	$8,020,000	$345,000	$193,150	$731,300	
11/01/24	$7,675,000	$0	$186,250	$0	
05/01/25	$7,675,000	$360,000	$186,250	$732,500	
11/01/25	$7,315,000	$0	$179,050	$0	
05/01/26	$7,315,000	$375,000	$179,050	$733,100	
11/01/26	$6,940,000	$0	$171,550	$0	
05/01/27	$6,940,000	$390,000	$171,550	$733,100	
11/01/27	$6,550,000	$0	$163,750	$0	
05/01/28	$6,550,000	$410,000	$163,750	$737,500	
11/01/28	$6,140,000	$0	$153,500	$0	
05/01/29	$6,140,000	$430,000	$153,500	$737,000	
11/01/29	$5,710,000	$0	$142,750	$0	
05/01/30	$5,710,000	$450,000	$142,750	$735,500	
11/01/30	$5,260,000	$0	$131,500	$0	
05/01/31	$5,260,000	$475,000	$131,500	$738,000	
11/01/31	$4,785,000	$0	$119,625	$0	
05/01/32	$4,785,000	$500,000	$119,625	$739,250	
11/01/32	$4,285,000	$0	$107,125	$0	
05/01/33	$4,285,000	$525,000	$107,125	$739,250	
11/01/33	$3,760,000	$0	$94,000	$0	
05/01/34	$3,760,000	$550,000	$94,000	$738,000	
11/01/34	$3,210,000	$0	$80,250	$0	
05/01/35	$3,210,000	$580,000	$80,250	$740,500	
11/01/35	$2,630,000	$0	$65,750	$0	
05/01/36	$2,630,000	$610,000	$65,750	$741,500	
11/01/36	$2,020,000	$0	$50,500	$0	
05/01/37	$2,020,000	$640,000	$50,500	$741,000	
11/01/37	$1,380,000	$0	$34,500	$0	
05/01/38	$1,380,000	$675,000	$34,500	$744,000	
11/01/38	$705,000	$0	$17,625	$0	
05/01/39	$705,000	$705,000	$17,625	$740,250	

$9,270,000	$5,449,825	$14,719,825	

Palm Glades	
Community Development District	

 	
Debt Service	
Series 2018A1/A2 Special Assessment Clubhouse Bonds	

FY2022	Actual	Projected	Total	FY2023	
Adopted	through	Next	Projected	Amended	
Description	Budget	3/31/2022	6 Months	9/30/2022	Budget	

Revenues	
Special Assessments	
Interest Income	
Carry Forward Surplus/Cap. Int. (1)	

$682,112	
$0	
$488,780	

$657,673	
$39	
$491,427	

$24,439	
$39	
$0	

$682,112	
$79	
$491,427	

$682,112	
$0	
$499,628	

Total Revenues		$1,170,892 			$1,149,140 			$24,479 			$1,173,618 			$1,181,740 	
Expenditures										

Series 2018A1	
Interest Expense - 11/1	
Principal Expense - 11/1	
Interest Expense - 5/1	

$179,945	
$190,000	
$177,095	

$179,945	
$190,000	
$0	

$0	
$0	
$177,095	

$179,945	
$190,000	
$177,095	

$177,095	
$195,000	
$174,170	

Series 2018A2	
Interest Expense - 11/1	
Principal Expense - 11/1	
Interest Expense - 5/1	

$46,303	
$35,000	
$45,647	

$46,303	
$35,000	
$0	

$0	
$0	
$45,647	

$46,303	
$35,000	
$45,647	

$45,647	
$35,000	
$44,991	

 			

Total Expenditures		$673,990 		$451,248 

Excess Revenues/(Expenditures)		$496,902 		$697,891 

	$671,903 

	$509,838 

	$222,742 			$673,990 	
	($198,263) 			$499,628 	

Interest & Principal Payment - 11/1/2023 A1	
Interest & Principal Payment - 11/1/2023 A2	

$174,170	
$44,991	

(1) Carry forward surplus is net of Reserve requirement.

No. of Units	FY 2023	
Net Assessments
Plus Collection Fees (5%) Gross Assessments
Gross Single Family Per Unit	935
Gross Multy-family Per Unit	777	$682,112	
		$35,901 	
	$718,013	
	$419	
	$419	

Palm Glades	
Community Development District	

 	
Series 2018A1 Special Assessments Clubhouse Bonds	
Amortization Schedule	

DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL	

05/01/20	$9,275,000	$0	$182,720	$550,440	
11/01/20	$9,275,000	$185,000	$182,720		
05/01/21	$9,090,000	$0	$179,945	$549,890	
11/01/21	$9,090,000	$190,000	$179,945		
05/01/22	$8,900,000	$0	$177,095	$549,190	
11/01/22	$8,900,000	$195,000	$177,095		
05/01/23	$8,705,000	$0	$174,170	$553,340	
11/01/23	$8,705,000	$205,000	$174,170		
05/01/24	$8,500,000	$0	$171,095	$552,190	
11/01/24	$8,500,000	$210,000	$171,095		
05/01/25	$8,290,000	$0	$167,945	$550,890	
11/01/25	$8,290,000	$215,000	$167,945		
05/01/26	$8,075,000	$0	$164,183	$553,365	
11/01/26	$8,075,000	$225,000	$164,183		
05/01/27	$7,850,000	$0	$160,245	$550,490	
11/01/27	$7,850,000	$230,000	$160,245		
05/01/28	$7,620,000	$0	$156,220	$552,440	
11/01/28	$7,620,000	$240,000	$156,220		
05/01/29	$7,380,000	$0	$152,020	$549,040	
11/01/29	$7,380,000	$245,000	$152,020		
05/01/30	$7,135,000	$0	$147,120	$549,240	
11/01/30	$7,135,000	$255,000	$147,120		
05/01/31	$6,880,000	$0	$142,020	$549,040	
11/01/31	$6,880,000	$265,000	$142,020		
05/01/32	$6,615,000	$0	$136,720	$553,440	
11/01/32	$6,615,000	$280,000	$136,720		
05/01/33	$6,335,000	$0	$131,120	$552,240	
11/01/33	$6,335,000	$290,000	$131,120		
05/01/34	$6,045,000	$0	$125,320	$550,640	
11/01/34	$6,045,000	$300,000	$125,320		
05/01/35	$5,745,000	$0	$119,320	$548,640	
11/01/35	$5,745,000	$310,000	$119,320		
05/01/36	$5,435,000	$0	$113,120	$551,240	
11/01/36	$5,435,000	$325,000	$113,120		
05/01/37	$5,110,000	$0	$106,620	$553,240	
11/01/37	$5,110,000	$340,000	$106,620		
05/01/38	$4,770,000	$0	$99,820	$549,640	
11/01/38	$4,770,000	$350,000	$99,820		
05/01/39	$4,420,000	$0	$92,820	$550,640	
11/01/39	$4,420,000	$365,000	$92,820		
05/01/40	$4,055,000	$0	$85,155	$550,310	
11/01/40	$4,055,000	$380,000	$85,155		
05/01/41	$3,675,000	$0	$77,175	$549,350	
11/01/41	$3,675,000	$395,000	$77,175		
05/01/42	$3,280,000	$0	$68,880	$552,760	
11/01/42	$3,280,000	$415,000	$68,880		
05/01/43	$2,865,000	$0	$60,165	$550,330	
11/01/43	$2,865,000	$430,000	$60,165		
05/01/44	$2,435,000	$0	$51,135	$552,270	
11/01/44	$2,435,000	$450,000	$51,135		
05/01/45	$1,985,000	$0	$41,685	$548,370	
11/01/45	$1,985,000	$465,000	$41,685		
05/01/46	$1,520,000	$0	$31,920	$548,840	
11/01/46	$1,520,000	$485,000	$31,920		
05/01/47	$1,035,000	$0	$21,735	$548,470	
11/01/47	$1,035,000	$505,000	$21,735		
05/01/48	$530,000	$530,000	$22,260	$552,260	
		$9,275,000	$6,697,235	$15,972,235	

Palm Glades	
Community Development District	

 	
Series 2018A2 Special Assessments Clubhouse Bonds	
Amortization Schedule	

DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL	

05/01/20	$1,905,000	$0	$46,866	$123,731	
11/01/20	$1,905,000	$30,000	$46,866		
05/01/21	$1,875,000	$0	$46,303	$127,606	
11/01/21	$1,875,000	$35,000	$46,303		
05/01/22	$1,840,000	$0	$45,647	$126,294	
11/01/22	$1,840,000	$35,000	$45,647		
05/01/23	$1,805,000	$0	$44,991	$124,981	
11/01/23	$1,805,000	$35,000	$44,991		
05/01/24	$1,770,000	$0	$44,334	$128,669	
11/01/24	$1,770,000	$40,000	$44,334		
05/01/25	$1,730,000	$0	$43,434	$126,869	
11/01/25	$1,730,000	$40,000	$43,434		
05/01/26	$1,690,000	$0	$42,534	$125,069	
11/01/26	$1,690,000	$40,000	$42,534		
05/01/27	$1,650,000	$0	$41,634	$128,269	
11/01/27	$1,650,000	$45,000	$41,634		
05/01/28	$1,605,000	$0	$40,622	$126,244	
11/01/28	$1,605,000	$45,000	$40,622		
05/01/29	$1,560,000	$0	$39,609	$124,219	
11/01/29	$1,560,000	$45,000	$39,609		
05/01/30	$1,515,000	$0	$38,484	$126,969	
11/01/30	$1,515,000	$50,000	$38,484		
05/01/31	$1,465,000	$0	$37,234	$124,469	
11/01/31	$1,465,000	$50,000	$37,234		
05/01/32	$1,415,000	$0	$35,984	$126,969	
11/01/32	$1,415,000	$55,000	$35,984		
05/01/33	$1,360,000	$0	$34,609	$124,219	
11/01/33	$1,360,000	$55,000	$34,609		
05/01/34	$1,305,000	$0	$33,234	$126,469	
11/01/34	$1,305,000	$60,000	$33,234		
05/01/35	$1,245,000	$0	$31,734	$128,469	
11/01/35	$1,245,000	$65,000	$31,734		
05/01/36	$1,180,000	$0	$30,109	$125,219	
11/01/36	$1,180,000	$65,000	$30,109		
05/01/37	$1,115,000	$0	$28,484	$126,969	
11/01/37	$1,115,000	$70,000	$28,484		
05/01/38	$1,045,000	$0	$26,734	$123,469	
11/01/38	$1,045,000	$70,000	$26,734		
05/01/39	$975,000	$0	$24,984	$124,969	
11/01/39	$975,000	$75,000	$24,984		
05/01/40	$900,000	$0	$23,063	$126,125	
11/01/40	$900,000	$80,000	$23,063		
05/01/41	$820,000	$0	$21,013	$127,025	
11/01/41	$820,000	$85,000	$21,013		
05/01/42	$735,000	$0	$18,834	$127,669	
11/01/42	$735,000	$90,000	$18,834		
05/01/43	$645,000	$0	$16,528	$128,056	
11/01/43	$645,000	$95,000	$16,528		
05/01/44	$550,000	$0	$14,094	$128,188	
11/01/44	$550,000	$100,000	$14,094		
05/01/45	$450,000	$0	$11,531	$128,063	
11/01/45	$450,000	$105,000	$11,531		
05/01/46	$345,000	$0	$8,841	$127,681	
11/01/46	$345,000	$110,000	$8,841		
05/01/47	$235,000	$0	$6,022	$127,044	
11/01/47	$235,000	$115,000	$6,022		
05/01/48	$120,000	$120,000	$6,150	$126,150	
		$1,905,000	$1,761,138	$3,666,138	

Palm Glades	
Community Development District	

 	
Debt Service	
Series 2020 Special Assessment Bonds (Expansion Area Project)	

FY2022	Actual	Projected	Total	FY2023	
Adopted	through	Next	Projected	Amended	
Description	Budget	3/31/2022	6 Months	9/30/2022	Budget	

Revenues	
Special Assessments	
Interest Income	
Carry Forward Surplus (1)	

$51,000	
$0	
$19,331	

$49,549	
$3	
$19,518	

$1,451	
$3	
$0	

$51,000	
$6	
$19,518	

$51,000	
$0	
$22,661	

Total Revenues		$70,331 		$69,070 		$1,454 		$70,524 		$73,661 

Expenditures

Interest 11/1	
Principal - 5/1	
Interest - 5/1	

$16,431	
$15,000	
$16,431	

$16,431	$0	
$0	$15,000	
$0	$16,431	

$16,431	
$15,000	
$16,431	

$16,188	
$15,000	
$16,188	

Total Expenditures		$47,863 			$16,431 					$47,375 	
Excess Revenues/(Expenditures)		$22,468 			$52,639 					$26,286 	
					Interest Payment - 11/1/2023		$15,944	

	$31,431 			$47,863 	
	($29,977) 			$22,661 	

(1) Carry forward surplus is net of Reserve requirement.
No. of Units	FY2023	
Net Assessments
Plus Collection Fees (5%) Gross Assessments
Gross Single Family Per Unit	43	$51,000	
		$2,684 	
	$53,684	
	$1,248	

Palm Glades	
Community Development District	

Series 2020, Special Assessment Bonds (Expansion Area Project)
Amortization Schedule

DATE	BALANCE PRINCIPAL	INTEREST	TOTAL

11/01/20	$845,000	$0	$16,860		
05/01/21	$845,000	$15,000	$16,675	$48,535	
11/01/21	$830,000	$0	$16,431		
05/01/22	$830,000	$15,000	$16,431	$47,863	
11/01/22	$815,000	$0	$16,188		
05/01/23	$815,000	$15,000	$16,188	$47,375	
11/01/23	$800,000	$0	$15,944		
05/01/24	$800,000	$15,000	$15,944	$46,888	
11/01/24	$785,000	$0	$15,700		
05/01/25	$785,000	$20,000	$15,700	$51,400	
11/01/25	$765,000	$0	$15,300		
05/01/26	$765,000	$20,000	$15,300	$50,600	
11/01/26	$745,000	$0	$14,900		
05/01/27	$745,000	$20,000	$14,900	$49,800	
11/01/27	$725,000	$0	$14,500		
05/01/28	$725,000	$20,000	$14,500	$49,000	
11/01/28	$705,000	$0	$14,100		
05/01/29	$705,000	$20,000	$14,100	$48,200	
11/01/29	$685,000	$0	$13,700		
05/01/30	$685,000	$20,000	$13,700	$47,400	
11/01/30	$665,000	$0	$13,300		
05/01/31	$665,000	$20,000	$13,300	$46,600	
11/01/31	$645,000	$0	$12,900		
05/01/32	$645,000	$25,000	$12,900	$50,800	
11/01/32	$620,000	$0	$12,400		
05/01/33	$620,000	$25,000	$12,400	$49,800	
11/01/33	$595,000	$0	$11,900		
05/01/34	$595,000	$25,000	$11,900	$48,800	
11/01/34	$570,000	$0	$11,400		
05/01/35	$570,000	$25,000	$11,400	$47,800	
11/01/35	$545,000	$0	$10,900		
05/01/36	$545,000	$25,000	$10,900	$46,800	
11/01/36	$520,000	$0	$10,400		
05/01/37	$520,000	$30,000	$10,400	$50,800	
11/01/37	$490,000	$0	$9,800		
05/01/38	$490,000	$30,000	$9,800	$49,600	
11/01/38	$460,000	$0	$9,200		
05/01/39	$460,000	$30,000	$9,200	$48,400	
11/01/39	$430,000	$0	$8,600		
05/01/40	$430,000	$30,000	$8,600	$47,200	
11/01/40	$400,000	$0	$8,000		
05/01/41	$400,000	$35,000	$8,000	$51,000	
11/01/41	$365,000	$0	$7,300		
05/01/42	$365,000	$35,000	$7,300	$49,600	
11/01/42	$330,000	$0	$6,600		
05/01/43	$330,000	$35,000	$6,600	$48,200	
11/01/43	$295,000	$0	$5,900		
05/01/44	$295,000	$35,000	$5,900	$46,800	
11/01/44	$260,000	$0	$5,200		
05/01/45	$260,000	$40,000	$5,200	$50,400	
11/01/45	$220,000	$0	$4,400		
05/01/46	$220,000	$40,000	$4,400	$48,800	
11/01/46	$180,000	$0	$3,600		
05/01/47	$180,000	$40,000	$3,600	$47,200	
11/01/47	$140,000	$0	$2,800		
05/01/48	$140,000	$45,000	$2,800	$50,600	
11/01/48	$95,000	$0	$1,900		
05/01/49	$95,000	$45,000	$1,900	$48,800	
11/01/49	$50,000	$0	$1,000		
05/01/50	$50,000	$50,000	$1,000	$52,000	
11/01/50	$0	$0	$0		
		$845,000	$622,060	$1,467,060	

Palm Glades	
Community Development District	

 	
Debt Service	
Series 2021 Special Assessment Bonds (2021 Area Project)	

FY2022	Actual	Projected	Total	FY2023	
Adopted	through	Next	Projected	Amended	
Description	Budget	3/31/2022	6 Months	9/30/2022	Budget	

Revenues	
Direct Assessments - Lennar	
Special Assessments On Roll	
Interest Income	
Carry Forward Surplus (1)	

$11,797	
$0	
$0	
$0	

$0	
$0	
$0	
$0	

$11,797	
$0	
$1	
$0	

$11,797	
$0	
$1	
$0	

$0	
$30,769	
$0	
$21,232	

Total Revenues		$11,797 		$0 		$11,798 		$11,798 		$52,001 

Expenditures

Interest 12/15	
Principal - 12/15	
Interest - 6/15	

$2,565	
$0	
$9,232	

$2,565	$0	
$0	$0	
$0	$9,232	

$2,565	
$0	
$9,232	

$9,232	
$12,000	
$9,100	

Total Expenditures

Other Financing Sources/(Uses)

Bond Proceeds		$11,797 

$0			$2,565 

$5,641			$9,232 

$0			$11,797 

$5,641			$30,333 

$0	
Total Other Financing Sources/(Uses)		$0 			$5,641 			$0 			$5,641 			$0 	
Excess Revenues/(Expenditures)		$0 			$3,077 			$2,566 			$5,642 			$21,669 	

Interest Payment - 12/15/23	
Principal Payment - 12/15/23	

$9,100	
$12,000	

(1) Carry forward surplus is net of Reserve requirement.
No. of Units	FY2023	
Net Assessments
Plus Collection Fees (5%) Gross Assessments
Gross Single Family Per Unit	29	$32,389	
		$1,705 	
	$34,093	
	$1,175.63	

Palm Glades	
Community Development District	

 	
Series 2021, Special Assessment Bonds (2021 Project Area)	
Amortization Schedule	

DATE	BALANCE	Coupon	PRINCIPAL	INTEREST	TOTAL	
12/15/21	$550,000	2.200%	$0	$2,565		
05/15/22	$550,000	2.200%	$0	$9,232	$11,797	
12/15/22	$550,000	2.200%	$12,000	$9,232		
05/15/23	$538,000	2.200%	$0	$9,100	$30,333	
12/15/23	$538,000	2.200%	$12,000	$9,100		
06/15/24	$526,000	2.200%	$0	$8,968	$30,069	
12/15/24	$526,000	2.200%	$12,000	$8,968		
06/15/25	$514,000	2.200%	$0	$8,836	$29,805	
12/15/25	$514,000	2.200%	$13,000	$8,836		
06/15/26	$501,000	2.200%	$0	$8,693	$30,530	
12/15/26	$501,000	2.200%	$13,000	$8,693		
06/15/27	$488,000	2.700%	$0	$8,550	$30,244	
12/15/27	$488,000	2.700%	$13,000	$8,550		
06/15/28	$475,000	2.700%	$0	$8,375	$29,925	
12/15/28	$475,000	2.700%	$13,000	$8,375		
06/15/29	$462,000	2.700%	$0	$8,199	$29,574	
12/15/29	$462,000	2.700%	$14,000	$8,199		
06/15/30	$448,000	2.700%	$0	$8,010	$30,210	
12/15/30	$448,000	2.700%	$14,000	$8,010		
06/15/31	$434,000	2.700%	$0	$7,821	$29,832	
12/15/31	$434,000	2.700%	$15,000	$7,821		
06/15/32	$419,000	3.125%	$0	$7,619	$30,440	
12/15/32	$419,000	3.125%	$15,000	$7,619		
06/15/33	$404,000	3.125%	$0	$7,384	$30,003	
12/15/33	$404,000	3.125%	$16,000	$7,384		
06/15/34	$388,000	3.125%	$0	$7,134	$30,519	
12/15/34	$388,000	3.125%	$16,000	$7,134		
06/15/35	$372,000	3.125%	$0	$6,884	$30,019	
12/15/35	$372,000	3.125%	$16,000	$6,884		
06/15/36	$356,000	3.125%	$0	$6,634	$29,519	
12/15/36	$356,000	3.125%	$17,000	$6,634		
06/15/37	$339,000	3.125%	$0	$6,369	$30,003	
12/15/37	$339,000	3.125%	$18,000	$6,369		
06/15/38	$321,000	3.125%	$0	$6,088	$30,456	
12/15/38	$321,000	3.125%	$18,000	$6,088		
06/15/39	$303,000	3.125%	$0	$5,806	$29,894	
12/15/39	$303,000	3.125%	$19,000	$5,806		
06/15/40	$284,000	3.125%	$0	$5,509	$30,316	
12/15/40	$284,000	3.125%	$19,000	$5,509		
06/15/41	$265,000	3.125%	$0	$5,213	$29,722	
12/15/41	$265,000	3.125%	$20,000	$5,213		
06/15/42	$245,000	4.000%	$0	$4,900	$30,113	
12/15/42	$245,000	4.000%	$20,000	$4,900		
06/15/43	$225,000	4.000%	$0	$4,500	$29,400	
12/15/43	$225,000	4.000%	$21,000	$4,500		
06/15/44	$204,000	4.000%	$0	$4,080	$29,580	
12/15/44	$204,000	4.000%	$22,000	$4,080		
06/15/45	$182,000	4.000%	$0	$3,640	$29,720	
12/15/45	$182,000	4.000%	$23,000	$3,640		
06/15/46	$159,000	4.000%	$0	$3,180	$29,820	
12/15/46	$159,000	4.000%	$24,000	$3,180		
06/15/47	$135,000	4.000%	$0	$2,700	$29,880	
12/15/47	$135,000	4.000%	$25,000	$2,700		
06/15/48	$110,000	4.000%	$0	$2,200	$29,900	
12/15/48	$110,000	4.000%	$26,000	$2,200		
06/15/49	$84,000	4.000%	$0	$1,680	$29,880	
12/15/49	$84,000	4.000%	$27,000	$1,680		
06/15/50	$57,000	4.000%	$0	$1,140	$29,820	
12/15/50	$57,000	4.000%	$28,000	$1,140		
06/15/51	$29,000	4.000%	$0	$580	$29,720	
12/15/51	$29,000	4.000%	$29,000	$580	$29,580	

$550,000

$360,618

$910,618

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