Palm Glades	
Community Development District	

Proposed Budget	
FY 2025	

Table of Contents

1-3		General Fund	
4-8		Narratives	
9		Capital Reserve Fund 	
10		Debt Service Fund Series 2016 	
11		Series 2016 Amortization Schedule	
12		Debt Service Fund Series 2017	
13		Series 2017 Amortization Schedule	
14		Debt Service Fund Series 2018 A1/A2	
15		Series 2018A1 Amortization Schedule	
16		Series 2018A2 Amortization Schedule	
17		Debt Service Fund Series 2020	
18		Series 2020 Amortization Schedule	
19		Debt Service Fund Series 2021	
20		Series 2021 Amortization Schedule	
21		Assessment Schedule	

Palm Glades	
Community Development District	
Proposed Budget	
General Fund	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2024	2/29/24	7 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments - On Roll	$2,585,061	$2,489,264	$95,797	$2,585,061	$2,585,061	
Interest income	25,000	14,886	20,841	35,727	30,000	
Access Cards	-	540	756	1,296	-	
Guess Passes	-	110	154	264	-	
Party Rental Fees	-	6,080	8,512	14,592	10,000	
Non-Residential Memberships	-	5,880	8,232	14,112	-	
Key Card/Replacements	-	295	413	708	-	
Carry Forward Surplus	159,945	458,873	-	458,873	161,581	

TOTAL REVENUES	$2,770,006	$2,975,928	$134,705	$3,110,633	$2,786,642	

EXPENDITURES:

Administrative						
Supervisor Fees	$12,000	$3,000	$7,000	$10,000	$12,000	
FICA Taxes	918	230	536	765	918	
Engineering	10,000	-	5,833	5,833	10,000	
Attorney	45,000	11,393	22,785	34,178	45,000	
Annual Audit	7,000	7,000	-	7,000	7,300	
Assessment Administration	2,000	2,000	-	2,000	2,000	
Arbitrage Rebate	2,400	-	2,400	2,400	2,400	
Dissemination Agent	2,500	1,042	1,458	2,500	2,750	
Trustee Fees	24,000	3,500	20,500	24,000	24,000	
Management Fees	46,887	19,536	27,351	46,887	51,576	
Website Maintenance	3,000	1,250	1,750	3,000	3,300	
Telephone	100	-	58	58	100	
Postage & Delivery	1,000	329	671	1,000	1,000	
Insurance General Liability	10,800	9,163	-	9,163	10,800	
Printing & Binding	2,900	490	686	1,176	2,900	
Rentals & Leases	2,400	1,000	1,400	2,400	2,640	
Legal Advertising	2,600	-	1,517	1,517	2,600	
Other Current Charges	1,050	-	613	613	1,050	
Office Supplies	260	16	152	167	260	
Dues, Licenses & Subscriptions	175	175	-	175	175	
Capital Outlay	250	-	146	146	250	

TOTAL ADMINISTRATIVE	$177,240	$60,123	$94,855	$154,977	$183,019	

Palm Glades	
Community Development District	
Proposed Budget	
General Fund	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2024	2/29/24	7 Months	9/30/24	FY 2025	

Operations & Maintenance
Field Expenditures

Landscape Maintenance	$200,435	$79,538	$120,898	$200,435	$200,435	
Porter Service	79,560	33,813	45,747	79,560	79,560	
Mulch	65,050	42,319	22,731	65,050	65,050	
Tree Trimming & Palm Pruning	39,000	34,045	4,955	39,000	39,000	
Landscape Fertilization and Pest Control	43,870	18,149	25,721	43,870	43,870	
Annuals	15,000	4,700	10,300	15,000	15,000	
Plants Replacement	42,000	94,075	75,000	169,075	50,000	
Irrigation System	23,940	9,500	14,440	23,940	23,940	
Irrigation Repairs	20,000	10,245	9,755	20,000	30,000	
Electricity	30,000	15,998	14,002	30,000	40,000	
Refuse	16,200	7,289	8,911	16,200	17,500	
Entrance Maintenance & Repairs	20,000	23,911	5,000	28,911	29,000	
Janitorial Supplies	4,200	-	2,450	2,450	4,200	
Lake Maintenance	13,500	3,925	9,575	13,500	13,500	
Lake Debris Removal	3,600	-	2,100	2,100	3,600	
Cleaning of Drainage System	22,000	-	12,833	12,833	22,000	
Pressure Cleaning - Sidewalk	18,600	6,995	11,605	18,600	18,600	
Field Management	21,089	8,787	12,302	21,089	23,198	
Security Services	661,128	236,258	424,870	661,128	661,128	
Holiday Decorations	17,400	35,040	-	35,040	35,000	
Sidewalk Repairs	50,000	-	29,167	29,167	50,000	
Contingency	44,642	174,133	-	174,133	60,000	
Capital Reserves	275,000	275,000	-	275,000	175,000	

TOTAL FIELD EXPENDITURES	$1,726,214	$1,113,720	$862,362	$1,976,081	$1,699,581	

Amenity Expenditures

Access Control (cards, systems, cameras maint.)	$5,000	$-	$2,917	$2,917	$5,000	
Air Conditioning Maintenance	7,000	2,300	$3,220	5,520	7,000	
Basketball Court Repairs and Maintenance	10,000	-	$5,833	5,833	10,000	
Cable & Internet Service	5,000	1,951	$2,731	4,682	5,000	
Circuit Training Equipment Maintenance	6,350	1,939	$2,715	4,654	6,350	
Sauna Equipment Maintenance	3,500	-	2,042	2,042	3,500	
Electricity	45,000	21,007	29,409	50,416	51,000	
Fire Alarm & Building Alarm Monitoring	7,300	5,625	1,675	7,300	8,000	
Gazebo and Trellis Repairs and Maintenance	11,000	-	6,417	6,417	11,000	
Holiday Decorations	6,731	11,881	-	11,881	12,000	
Property Insurance	62,500	46,658	-	46,658	65,625	
Irrigation Repairs and Maintenance	5,000	-	2,917	2,917	5,000	
Janitorial	57,604	24,125	34,300	58,425	70,000	
Janitorial Supplies	5,200	-	3,033	3,033	5,200	
Landscape Maintenance	30,540	9,800	13,720	23,520	30,540	
Landscape Replacement (Includes Mulching)	26,176	8,590	17,586	26,176	26,176	
Management Fees	239,157	118,337	120,820	239,157	239,157	
Office Equipment Maintenance	9,000	-	5,250	5,250	9,000	
Office Supplies/Clubhouse Supplies	15,000	8,482	6,518	15,000	15,000	
Pest Control-Interior & Exterior	9,200	1,351	1,891	3,242	9,200	

Palm Glades	
Community Development District	
Proposed Budget	
General Fund	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2024	2/29/24	7 Months	9/30/24	FY 2025	

Amenity Expenditures (continued)						
Pool, Spa and Waterpark Maintenance	45,000	18,950	26,050	45,000	45,000	
Pool, Spa and Waterpark Repairs	32,500	19,358	13,142	32,500	32,500	
Printing & Postage	2,400	-	1,400	1,400	2,400	
Property Taxes	500	525	-	525	500	
Repairs/Maintenance & Supplies (General)	50,000	15,520	21,727	37,247	50,000	
Residential Social Expenses	40,000	29,764	21,000	50,764	50,000	
Security	76,545	39,942	36,603	76,545	76,545	
Telephone	700	261	439	700	700	
Trash Collection/Recycling	6,500	-	3,792	3,792	6,500	
Water & Sewer	8,000	1,924	6,076	8,000	8,000	
Window Cleaning/Pressure Cleaning	4,000	-	2,333	2,333	4,000	
Contingency	34,149	27,162	6,987	34,149	34,149	

TOTAL AMENITY EXPENDITURES	$866,552	$415,450	$402,543	$817,993	$904,042	

TOTAL EXPENDITURES	$2,770,006	$1,589,293	$1,359,759	$2,949,052	$2,786,642	

EXCESS REVENUES (EXPENDITURES)	$-	$1,386,636	$(1,225,054)	$161,581	$-	

Palm Glades	
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	
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.	
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.	
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.	
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 Roll Administration	
GMS SF, LLC provides assessment services for closing lot sales, assessment roll services with the local Tax Collector and financial advisory services.	
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.	

Palm Glades	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

Expenditures - Administrative (continued)	

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.

Communication - Telephone
New internet and Wi-Fi service for Office.

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.

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 Florida Department of Commerce $175.

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

Contingencies
A contingency for any unanticipated and unscheduled cost to the District.	
Expenditures – 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
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.

Palm Glades	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

Expenditures – Field (continued)	

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.	
Electricity	
FPL provides electricity for Common Area Lighting.	
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.	

Palm Glades	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

Expenditures – 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 & Maintenance	
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.	
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.	
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.	

Palm Glades	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

Expenditures – Clubhouse Maintenance (continued)	

Pool, Spa and Waterpark Maintenance	
Cost to maintain the pool, does not include repairs.	
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	
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	
Proposed Budget	
Capital Reserve Fund	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2024	2/29/24	7 Months	9/30/24	FY 2025	

REVENUES:

Interest Income	$1,000	$1,846	$2,584	$4,430	$2,500	
Capital Reserve Contribution	275,000	275,000	-	275,000	275,000	
Carry Forward Surplus	148,597	19,928	-	19,928	298,888	

TOTAL REVENUES	$424,597	$296,774	$2,584	$299,358	$576,388	

EXPENDITURES:

Capital Reserve Expenses	$-	$-	$-	$-	$-	
Other Current Charges/Bank	350	196	274	470	500	

TOTAL EXPENDITURES	$350	$196	$274	$470	$500	

EXCESS REVENUES (EXPENDITURES)	$424,247	$296,578	$2,310	$298,888	$575,888	

Palm Glades	
Community Development District	
Proposed Budget	
Debt Service Series 2016 Special Assessment Refunding Bonds	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2024	2/29/24	7 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments-On Roll	$899,599	$856,869	$42,730	$899,599	$899,599	
Interest Earnings	-	21,306	10,000	31,306	10,000	
Carry Forward Surplus (1)	549,250	529,884	-	529,884	573,176	

TOTAL REVENUES	$1,448,849	$1,408,059	$52,730	$1,460,788	$1,482,775	

EXPENDITURES:

Interest - 11/1	$168,806	$168,806	$-	$168,806	$160,556	
Interest - 5/1	550,000	-	550,000	550,000	565,000	
Principal - 5/1	168,806	-	168,806	168,806	160,556	

TOTAL EXPENDITURES	$887,613	$168,806	$718,806	$887,613	$886,113	

TOTAL EXPENDITURES	$887,613	$168,806	$718,806	$887,613	$886,113	

EXCESS REVENUES (EXPENDITURES)	$561,237	$1,239,252	$(666,076)	$573,176	$596,662	

Interest Due 11/1/25	$152,081	
	$152,081	

(1) Carry Forward is Net of Reserve Requirement

Palm Glades	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2016 Special Assessment Refunding Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

11/01/24	$8,410,000	3.000%	-	$160,556	$886,113	
05/01/25	8,410,000	3.000%	565,000	160,556		
11/01/25	7,845,000	3.000%	-	152,081	884,162.50	
05/01/26	7,845,000	3.750%	580,000	152,081		
11/01/26	7,265,000	3.750%	-	141,206	887,412.50	
05/01/27	7,265,000	3.750%	605,000	141,206		
11/01/27	6,660,000	3.750%	-	129,863	889,725.00	
05/01/28	6,660,000	3.750%	630,000	129,863		
11/01/28	6,030,000	3.750%	-	118,050	891,100.00	
05/01/29	6,030,000	3.750%	655,000	118,050		
11/01/29	5,375,000	3.750%	-	105,769	891,537.50	
05/01/30	5,375,000	3.750%	680,000	105,769		
11/01/30	4,695,000	3.750%	-	93,019	891,037.50	
05/01/31	4,695,000	3.750%	705,000	93,019		
11/01/31	3,990,000	3.750%	-	79,800	894,600.00	
05/01/32	3,990,000	4.000%	735,000	79,800		
11/01/32	3,255,000	4.000%	-	65,100	895,200.00	
05/01/33	3,255,000	4.000%	765,000	65,100		
11/01/33	2,490,000	4.000%	-	49,800	894,600.00	
05/01/34	2,490,000	4.000%	795,000	49,800		
11/01/34	1,695,000	4.000%	-	33,900	897,800.00	
05/01/35	1,695,000	4.000%	830,000	33,900		
11/01/35	865,000	4.000%	-	17,300	899,600.00	
05/01/36	865,000	4.000%	865,000	17,300		

Total	$8,410,000	$2,292,888	$10,702,888	

Palm Glades	
Community Development District	
Proposed Budget	
Debt Service Series 2017 Special Assessment Refunding Bonds	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2024	2/29/24	7 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments-On Roll	$727,253	$674,095	$53,158	$727,253	$727,253	
Interest Earnings	-	6,778	9,489	16,267	10,000	
Carry Forward Surplus (1)	269,216	263,287	-	263,287	275,506	

TOTAL REVENUES	$996,469	$944,159	$62,647	$1,006,806	$1,012,759	

EXPENDITURES:

Interest - 11/1	$193,150	$193,150	$-	$193,150	$186,250	
Interest - 5/1	193,150	-	193,150	193,150	186,250	
Principal - 5/1	345,000	-	345,000	345,000	360,000	

TOTAL EXPENDITURES	$731,300	$193,150	$538,150	$731,300	$732,500	

EXCESS REVENUES (EXPENDITURES)	$265,169	$751,009	$(475,503)	$275,506	$280,259	

Interest Due 11/1/25	$179,050	
	$179,050	

(1) Carry Forward is Net of Reserve Requirement

Palm Glades	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2017 Special Assessment Refunding Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

11/01/24	7,675,000	4.000%	-	186,250	732,500.00	
05/01/25	7,675,000	4.000%	360,000	186,250		
11/01/25	7,315,000	4.000%	-	179,050	733,100.00	
05/01/26	7,315,000	4.000%	375,000	179,050		
11/01/26	6,940,000	4.000%	-	171,550	733,100.00	
05/01/27	6,940,000	4.000%	390,000	171,550		
11/01/27	6,550,000	5.000%	-	163,750	737,500.00	
05/01/28	6,550,000	5.000%	410,000	163,750		
11/01/28	6,140,000	5.000%	-	153,500	737,000.00	
05/01/29	6,140,000	5.000%	430,000	153,500		
11/01/29	5,710,000	5.000%	-	142,750	735,500.00	
05/01/30	5,710,000	5.000%	450,000	142,750		
11/01/30	5,260,000	5.000%	-	131,500	738,000.00	
05/01/31	5,260,000	5.000%	475,000	131,500		
11/01/31	4,785,000	5.000%	-	119,625	739,250.00	
05/01/32	4,785,000	5.000%	500,000	119,625		
11/01/32	4,285,000	5.000%	-	107,125	739,250.00	
05/01/33	4,285,000	5.000%	525,000	107,125		
11/01/33	3,760,000	5.000%	-	94,000	738,000.00	
05/01/34	3,760,000	5.000%	550,000	94,000		
11/01/35	3,210,000	5.000%	-	80,250	740,500.00	
05/01/35	3,210,000	5.000%	580,000	80,250		
11/01/35	2,630,000	5.000%	-	65,750	741,500.00	
05/01/36	2,630,000	5.000%	610,000	65,750		
11/01/36	2,020,000	5.000%	-	50,500	741,000.00	
05/01/37	2,020,000	5.000%	640,000	50,500		
11/01/37	1,380,000	5.000%	-	34,500	744,000.00	
05/01/38	1,380,000	5.000%	675,000	34,500		
11/01/38	705,000	5.000%	-	17,625	740,250.00	
05/01/39	705,000	5.000%	705,000	17,625		

Total	$7,675,000	$3,395,450	$11,070,450	

Palm Glades	
Community Development District	
Proposed Budget	
Debt Service Series 2018A1/A2 Special Assessment Refunding Bonds	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2024	2/29/24	7 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments-On Roll	$682,304	$657,431	$24,873	$682,304	$682,304	
Interest Earnings	-	13,961	19,546	33,507	20,000	
Carry Forward Surplus (1)	553,157	543,814	-	543,814	585,035	

TOTAL REVENUES	$1,235,460	$1,215,206	$44,419	$1,259,625	$1,287,339	

EXPENDITURES:

Series 2018A1						
Interest - 11/1	$174,170	$174,170	$-	$174,170	$171,095	
Interest - 11/1	205,000	205,000	-	205,000	210,000	
Principal - 5/1	171,095	-	171,095	171,095	167,945	

Series 2018A2						
Interest - 11/1	44,991	44,991	-	44,991	44,334	
Interest - 11/1	35,000	35,000	-	35,000	40,000	
Principal - 5/1	44,334	-	44,334	44,334	43,434	

TOTAL EXPENDITURES	$674,590	$459,161	$215,429	$674,590	$676,809	

EXCESS REVENUES (EXPENDITURES)	$560,870	$756,045	$(171,010)	$585,035	$610,530	

A1 Interest Due 11/1/25	$167,945	
A1 Principal Due 11/1/25	$215,000	
A2 Interest Due 11/1/25	$43,434	
A2 Principal Due 11/1/25	$40,000	
	$466,379	

(1) Carry Forward is Net of Reserve Requirement

Palm Glades	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2018 A1 Special Assessment Refunding Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

11/01/24	8,500,000	3.000%	210,000	171,095	549,040.00	
05/01/25	8,290,000	3.000%	-	167,945		
11/01/25	8,290,000	3.500%	215,000	167,945	547,127.50	
05/01/26	8,075,000	3.500%	-	164,183		
11/01/26	8,075,000	3.500%	225,000	164,183	549,427.50	
05/01/27	7,850,000	3.500%	-	160,245		
11/01/27	7,850,000	3.500%	230,000	160,245	546,465.00	
05/01/28	7,620,000	3.500%	-	156,220		
11/01/28	7,620,000	3.500%	240,000	156,220	548,240.00	
05/01/29	7,380,000	3.500%	-	152,020		
11/01/29	7,380,000	4.000%	245,000	152,020	544,140.00	
05/01/30	7,135,000	4.000%	-	147,120		
11/01/30	7,135,000	4.000%	255,000	147,120	544,140.00	
05/01/31	6,880,000	4.000%	-	142,020		
11/01/31	6,880,000	4.000%	265,000	142,020	543,740.00	
05/01/32	6,615,000	4.000%	-	136,720		
11/01/32	6,615,000	4.000%	280,000	136,720	547,840.00	
05/01/33	6,335,000	4.000%	-	131,120		
11/01/33	6,335,000	4.000%	290,000	131,120	546,440.00	
05/01/34	6,045,000	4.000%	-	125,320		
11/01/34	6,045,000	4.000%	300,000	125,320	544,640.00	
05/01/35	5,745,000	4.000%	-	119,320		
11/01/35	5,745,000	4.000%	310,000	119,320	542,440.00	
05/01/36	5,435,000	4.000%	-	113,120		
11/01/36	5,435,000	4.000%	325,000	113,120	544,740.00	
05/01/37	5,110,000	4.000%	-	106,620		
11/01/37	5,110,000	4.000%	340,000	106,620	546,440.00	
05/01/38	4,770,000	4.000%	-	99,820		
11/01/38	4,770,000	4.000%	350,000	99,820	542,640.00	
05/01/39	4,420,000	4.000%	-	92,820		
11/01/39	4,420,000	4.200%	365,000	92,820	542,975.00	
05/01/40	4,055,000	4.200%	-	85,155		
11/01/40	4,055,000	4.200%	380,000	85,155	542,330.00	
05/01/41	3,675,000	4.200%	-	77,175		
11/01/41	3,675,000	4.200%	395,000	77,175	541,055.00	
05/01/42	3,280,000	4.200%	-	68,880		
11/01/42	3,280,000	4.200%	415,000	68,880	544,045.00	
05/01/43	2,865,000	4.200%	-	60,165		
11/01/43	2,865,000	4.200%	430,000	60,165	541,300.00	
05/01/44	2,435,000	4.200%	-	51,135		
11/01/44	2,435,000	4.200%	450,000	51,135	542,820.00	
05/01/45	1,985,000	4.200%	-	41,685		
11/01/45	1,985,000	4.200%	465,000	41,685	538,605.00	
05/01/46	1,520,000	4.200%	-	31,920		
11/01/46	1,520,000	4.200%	485,000	31,920	538,655.00	
05/01/47	1,035,000	4.200%	-	21,735		
11/01/47	1,035,000	4.200%	505,000	21,735	537,865.00	
05/01/48	530,000	4.200%		11,130		
11/01/48	-	4.200%	530,000	11,130	541,130.00	
Total			$8,500,000	$5,098,280	$13,598,280	

Palm Glades	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2018 A2 Special Assessment Refunding Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

11/01/24	1,770,000	4.500%	40,000	44,334	127,768.75	
05/01/25	1,730,000	4.500%	-	43,434		
11/01/25	1,730,000	4.500%	40,000	43,434	125,968.75	
05/01/26	1,690,000	4.500%	-	42,534		
11/01/26	1,690,000	4.500%	40,000	42,534	124,168.75	
05/01/27	1,650,000	4.500%	-	41,634		
11/01/27	1,650,000	4.500%	45,000	41,634	127,256.25	
05/01/28	1,605,000	4.500%	-	40,622		
11/01/28	1,605,000	4.500%	45,000	40,622	125,231.25	
05/01/29	1,560,000	4.500%	-	39,609		
11/01/29	1,560,000	5.000%	45,000	39,609	123,093.75	
05/01/30	1,515,000	5.000%	-	38,484		
11/01/30	1,515,000	5.000%	50,000	38,484	125,718.75	
05/01/31	1,465,000	5.000%	-	37,234		
11/01/31	1,465,000	5.000%	50,000	37,234	123,218.75	
05/01/32	1,415,000	5.000%	-	35,984		
11/01/32	1,415,000	5.000%	55,000	35,984	125,593.75	
05/01/33	1,360,000	5.000%	-	34,609		
11/01/33	1,360,000	5.000%	55,000	34,609	122,843.75	
05/01/34	1,305,000	5.000%	-	33,234		
11/01/34	1,305,000	5.000%	60,000	33,234	124,968.75	
05/01/35	1,245,000	5.000%	-	31,734		
11/01/35	1,245,000	5.000%	65,000	31,734	126,843.75	
05/01/36	1,180,000	5.000%	-	30,109		
11/01/36	1,180,000	5.000%	65,000	30,109	123,593.75	
05/01/37	1,115,000	5.000%	-	28,484		
11/01/37	1,115,000	5.000%	70,000	28,484	125,218.75	
05/01/38	1,045,000	5.000%	-	26,734		
11/01/38	1,045,000	5.000%	70,000	26,734	121,718.75	
05/01/39	975,000	5.000%	-	24,984		
11/01/39	975,000	5.125%	75,000	24,984	123,046.88	
05/01/40	900,000	5.125%	-	23,063		
11/01/40	900,000	5.125%	80,000	23,063	124,075.00	
05/01/41	820,000	5.125%	-	21,013		
11/01/41	820,000	5.125%	85,000	21,013	124,846.88	
05/01/42	735,000	5.125%	-	18,834		
11/01/42	735,000	5.125%	90,000	18,834	125,362.50	
05/01/43	645,000	5.125%	-	16,528		
11/01/43	645,000	5.125%	95,000	16,528	125,621.88	
05/01/44	550,000	5.125%	-	14,094		
11/01/44	550,000	5.125%	100,000	14,094	125,625.00	
05/01/45	450,000	5.125%	-	11,531		
11/01/45	450,000	5.125%	105,000	11,531	125,371.88	
05/01/46	345,000	5.125%	-	8,841		
11/01/46	345,000	5.125%	110,000	8,841	124,862.50	
05/01/47	235,000	5.125%	-	6,022		
11/01/47	235,000	5.125%	115,000	6,022	124,096.88	
05/01/48	120,000	5.125%		3,075		
11/01/48	120,000	5.125%	120,000	3,075	123,075.00	
Total			$1,770,000	$1,349,191	$3,119,191	

Palm Glades	
Community Development District	
Proposed Budget	
Debt Service Series 2020 Special Assessment Bonds (Expansion Area)	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2024	2/29/24	7 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments-On Roll	$51,000	$47,272	$3,728	$51,000	$51,000	
Interest Earnings	-	1,030	1,442	2,472	1,000	
Carry Forward Surplus (1)	28,627	27,559	-	27,559	34,143	

TOTAL REVENUES	$79,627	$75,861	$5,170	$81,031	$86,143	

EXPENDITURES:

Interest - 11/1	$15,944	$15,944	$-	$15,944	$15,700	
Interest - 5/1	15,000	-	15,000	15,000	20,000	
Principal - 5/1	15,944	-	15,944	15,944	15,700	

TOTAL EXPENDITURES	$46,888	$15,944	$30,944	$46,888	$51,400	

EXCESS REVENUES (EXPENDITURES)	$32,739	$59,917	$(25,774)	$34,143	$34,743	

Interest Due 11/1/25	$15,300	
	$15,300	

(1) Carry Forward is Net of Reserve Requirement

Palm Glades	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2020 Special Assessment Refunding Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

11/01/24	785,000	3.250%	-	15,700	51,400.00	
05/01/25	785,000	4.000%	20,000	15,700		
11/01/25	765,000	4.000%	-	15,300	50,600.00	
05/01/26	765,000	4.000%	20,000	15,300		
11/01/26	745,000	4.000%	-	14,900	49,800.00	
05/01/27	745,000	4.000%	20,000	14,900		
11/01/27	725,000	4.000%	-	14,500	49,000.00	
05/01/28	725,000	4.000%	20,000	14,500		
11/01/28	705,000	4.000%	-	14,100	48,200.00	
05/01/29	705,000	4.000%	20,000	14,100		
11/01/29	685,000	4.000%	-	13,700	47,400.00	
05/01/30	685,000	4.000%	20,000	13,700		
11/01/30	665,000	4.000%	-	13,300	46,600.00	
05/01/31	665,000	4.000%	20,000	13,300		
11/01/31	645,000	4.000%	-	12,900	50,800.00	
05/01/32	645,000	4.000%	25,000	12,900		
11/01/32	620,000	4.000%	-	12,400	49,800.00	
05/01/33	620,000	4.000%	25,000	12,400		
11/01/33	595,000	4.000%	-	11,900	48,800.00	
05/01/34	595,000	4.000%	25,000	11,900		
11/01/34	570,000	4.000%	-	11,400	47,800.00	
05/01/35	570,000	4.000%	25,000	11,400		
11/01/35	545,000	4.000%	-	10,900	46,800.00	
05/01/36	545,000	4.000%	25,000	10,900		
11/01/36	520,000	4.000%	-	10,400	50,800.00	
05/01/37	520,000	4.000%	30,000	10,400		
11/01/37	490,000	4.000%	-	9,800	49,600.00	
05/01/38	490,000	4.000%	30,000	9,800		
11/01/38	460,000	4.000%	-	9,200	48,400.00	
05/01/39	460,000	4.000%	30,000	9,200		
11/01/39	430,000	4.000%	-	8,600	47,200.00	
05/01/40	430,000	4.000%	30,000	8,600		
11/01/40	400,000	4.000%	-	8,000	51,000.00	
05/01/41	400,000	4.000%	35,000	8,000		
11/01/41	365,000	4.000%	-	7,300	49,600.00	
05/01/42	365,000	4.000%	35,000	7,300		
11/01/42	330,000	4.000%	-	6,600	48,200.00	
05/01/43	330,000	4.000%	35,000	6,600		
11/01/43	295,000	4.000%	-	5,900	46,800.00	
05/01/44	295,000	4.000%	35,000	5,900		
11/01/44	260,000	4.000%	-	5,200	50,400.00	
05/01/45	260,000	4.000%	40,000	5,200		
11/01/45	220,000	4.000%	-	4,400	48,800.00	
05/01/46	220,000	4.000%	40,000	4,400		
11/01/46	180,000	4.000%	-	3,600	47,200.00	
05/01/47	180,000	4.000%	40,000	3,600		
11/01/47	140,000	4.000%	-	2,800	50,600.00	
05/01/48	140,000	4.000%	45,000	2,800		
11/01/48	95,000	4.000%	-	1,900	48,800.00	
05/01/49	95,000	4.000%	45,000	1,900		
11/01/49	50,000	4.000%	-	1,000	52,000.00	
05/01/50	50,000	4.000%	50,000	1,000		
Total			$785,000	$491,400	$1,276,400	

Palm Glades	
Community Development District	
Proposed Budget	
Debt Service Series 2021 Special Assessment Bonds	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2024	2/29/24	7 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments-On Roll	$30,769	$28,520	$2,249	$30,769	$30,769	
Interest Earnings	-	492	689	1,180	500	
Carry Forward Surplus (1)	25,432	24,892	-	24,892	26,641	

TOTAL REVENUES	$56,201	$53,904	$2,938	$56,842	$57,910	

EXPENDITURES:

Interest - 12/15	$9,232	$9,100	$-	$9,100	$8,968	
Principal - 12/15	12,000	12,000	-	12,000	12,000	
Interest - 6/15	9,100	-	9,100	9,100	8,836	

TOTAL EXPENDITURES	$30,333	$21,100	$9,100	$30,201	$29,805	

EXCESS REVENUES (EXPENDITURES)	$25,869	$32,804	$(6,163)	$26,641	$28,105	

Interest Due 12/15/25	$8,836.25	
Principal Due 12/15/25	$13,000.00	
	$21,836.25	

(1) Carry Forward is Net of Reserve Requirement

Palm Glades	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2021 Special Assessment Refunding Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

12/15/24	526,000	2.200%	12,000	8,968	29,804.50	
06/15/25	514,000	2.200%	-	8,836		
12/15/25	514,000	2.200%	13,000	8,836	30,529.50	
06/15/26	501,000	2.200%	-	8,693		
12/15/26	501,000	2.200%	13,000	8,693	30,243.50	
06/15/27	488,000	2.700%	-	8,550		
12/15/27	488,000	2.700%	13,000	8,550	29,925.00	
06/15/28	475,000	2.700%	-	8,375		
12/15/28	475,000	2.700%	13,000	8,375	29,574.00	
06/15/29	462,000	2.700%	-	8,199		
12/15/29	462,000	2.700%	14,000	8,199	30,209.50	
06/15/30	448,000	2.700%	-	8,010		
12/15/30	448,000	2.700%	14,000	8,010	29,831.50	
06/15/31	434,000	2.700%	-	7,821		
12/15/31	434,000	2.700%	15,000	7,821	30,440.00	
06/15/32	419,000	3.125%	-	7,619		
12/15/32	419,000	3.125%	15,000	7,619	30,003.13	
06/15/33	404,000	3.125%	-	7,384		
12/15/33	404,000	3.125%	16,000	7,384	30,518.75	
06/15/34	388,000	3.125%	-	7,134		
12/15/34	388,000	3.125%	16,000	7,134	30,018.75	
06/15/35	372,000	3.125%	-	6,884		
12/15/35	372,000	3.125%	16,000	6,884	29,518.75	
06/15/36	356,000	3.125%	-	6,634		
12/15/36	356,000	3.125%	17,000	6,634	30,003.13	
06/15/37	339,000	3.125%	-	6,369		
12/15/37	339,000	3.125%	18,000	6,369	30,456.25	
06/15/38	321,000	3.125%	-	6,088		
12/15/38	321,000	3.125%	18,000	6,088	29,893.75	
06/15/39	303,000	3.125%	-	5,806		
12/15/39	303,000	3.125%	19,000	5,806	30,315.63	
06/15/40	284,000	3.125%	-	5,509		
12/15/40	284,000	3.125%	19,000	5,509	29,721.88	
06/15/41	265,000	3.125%	-	5,213		
12/15/41	265,000	3.125%	20,000	5,213	30,112.50	
06/15/42	245,000	4.000%	-	4,900		
12/15/42	245,000	4.000%	20,000	4,900	29,400.00	
06/15/43	225,000	4.000%	-	4,500		
12/15/43	225,000	4.000%	21,000	4,500	29,580.00	
06/15/44	204,000	4.000%	-	4,080		
12/15/44	204,000	4.000%	22,000	4,080	29,720.00	
06/15/45	182,000	4.000%	-	3,640		
12/15/45	182,000	4.000%	23,000	3,640	29,820.00	
06/15/46	159,000	4.000%	-	3,180		
12/15/46	159,000	4.000%	24,000	3,180	29,880.00	
06/15/47	135,000	4.000%	-	2,700		
12/15/47	135,000	4.000%	25,000	2,700	29,900.00	
06/15/48	110,000	4.000%	-	2,200		
12/15/48	110,000	4.000%	26,000	2,200	29,880.00	
06/15/49	84,000	4.000%	-	1,680		
12/15/49	84,000	4.000%	27,000	1,680	29,820.00	
06/15/50	57,000	4.000%	-	1,140		
12/15/50	57,000	4.000%	28,000	1,140	29,720.00	
06/15/51	29,000	4.000%	-	580		
12/15/51	29,000	4.000%	29,000	580	29,580.00	
Total			$526,000	$312,420	$838,420	

Palm Glades	
Community Development District	
Non-Ad Valorem Assessments Comparison	
2024-2025	

Neighborhood	
O&M Units	Bonds Units 2018
Clubhous
e	
Bonds Units all others	

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)	
				Admin and Field	Clubhouse	Total	Admin and Field	Clubhouse	Total		All other Bonds	Bonds Clubhouse	All other Bonds	Bonds Clubhouse		Total	Total	Total	

Single Family Phase 1 (2016)	
372	
372	
372	
$1,045.65	
$491.49	
$1,537.14	
$1,045.65	
$491.49	
$1,537.14	
$0.00	
$1,088.08	
$412.53	
$1,088.08	
$412.53	
$0.00	
$3,037.75	
$3,037.75	
$0.00	
Multi Family Phase 1 (2016)	563	563	563	$1,045.65	$491.49	$1,537.14	$1,045.65	$491.49	$1,537.14	$0.00	$963.02	$412.53	$963.02	$412.53	$0.00	$2,912.69	$2,912.69	$0.00	
Single Family Phase 2 (2017)	413	413	413	$1,045.65	$491.49	$1,537.14	$1,045.65	$491.49	$1,537.14	$0.00	$1,039.35	$412.53	$1,039.35	$412.53	$0.00	$2,989.02	$2,989.02	$0.00	
Single Family 2021 Area Project (2021)	29	29	29	$1,045.65	$491.49	$1,537.14	$1,045.65	$491.49	$1,537.14	$0.00	$1,116.84	$412.53	$1,116.84	$412.53	$0.00	$3,066.51	$3,066.51	$0.00	
Multi Family Phase 2 (2017)	364	364	364	$1,045.65	$491.49	$1,537.14	$1,045.65	$491.49	$1,537.14	$0.00	$923.84	$412.53	$923.84	$412.53	$0.00	$2,873.51	$2,873.51	$0.00	
Single Family Annexed Area (2020)	43	0	43	$1,045.65	$0.00	$1,045.65	$1,045.65	$0.00	$1,045.65	$0.00	$1,248.47	$0.00	$1,248.47	$0.00	$0.00	$2,294.12	$2,294.12	$0.00	
Total	1784	1741	1784										

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