Preston Cove
Community Development District

Adopted Budget
FY2026

Table of Contents

1-2

3-7

8
General Fund

General Fund Narrative

Debt Service Fund - Series 2022

9-10	Amortization Schedule - Series 2022

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2025	8/31/25	1 Month	9/30/25	FY2026	

Revenues						
Assessments-On Roll	$	388,556	$	399,026	$	-	$	399,026	$	388,556	
Assessments-Direct	$	52,740	$	52,740	$	-	$	52,740	$	53,573	
Interest - SBA	$	-	$	3,867	$	1,437	$	5,304	$	-	
Developer Contributions	$	244,692	$	-	$	-	$	-	$	243,860	
Total Revenues	$	685,989	$	455,633	$	1,437	$	457,070	$	685,989	

Expenditures						
General & Administrative
Supervisor Fees	
$	12,000	
$	-	
$	-	
$	-	
$	12,000	
FICA Expense	$	918	$	-	$	-	$	-	$	918	
Engineering Fees	$	15,000	$	75	$	2,355	$	2,430	$	15,000	
Attorney Fees	$	25,000	$	19,006	$	3,801	$	22,807	$	25,000	
Annual Audit	$	4,100	$	4,200	$	-	$	4,200	$	4,300	
Assessment Administration	$	5,565	$	5,565	$	-	$	5,565	$	5,732	
Arbitrage	$	450	$	450	$	-	$	450	$	450	
Dissemination Fees	$	5,250	$	4,813	$	438	$	5,251	$	5,408	
Trustee Fees	$	4,500	$	4,041	$	-	$	4,041	$	4,500	
Management Fees	$	40,000	$	36,667	$	3,333	$	40,000	$	41,200	
Information Technology	$	1,890	$	1,733	$	158	$	1,891	$	1,947	
Website Maintenance	$	1,260	$	1,155	$	105	$	1,260	$	1,298	
Telephone	$	300	$	-	$	50	$	50	$	300	
Postage & Delivery	$	800	$	274	$	128	$	402	$	800	
Insurance	$	6,149	$	5,814	$	-	$	5,814	$	6,456	
Printing & Binding	$	700	$	-	$	50	$	50	$	700	
Legal Advertising	$	8,000	$	1,275	$	1,500	$	2,775	$	8,000	
Other Current Charges	$	2,200	$	694	$	48	$	742	$	2,200	
Office Supplies	$	500	$	1	$	50	$	51	$	500	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total General & Administrative	$	134,757	$	85,938	$	12,016	$	97,954	$	136,883	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget		
Description	FY2025	8/31/25	1 Month	9/30/25	FY2026		

Operations & Maintenance Field Expenditures
Field Management	

$	15,750	

$	14,438	

$	1,313	

$	15,751	

$	16,223	
Landscape Maintenance	$	150,000	$	127,341	$	11,000	$	138,341	$	140,000	
Landscape Contingency	$	5,000	$	2,915	$	2,000	$	4,915	$	16,590	
Lake Maintenance	$	15,062	$	10,700	$	950	$	11,650	$	13,000	
Streetlights	$	103,400	$	1,713	$	200	$	1,913	$	93,900	
Electric	$	5,000	$	-	$	2,500	$	2,500	$	5,000	
Water & Sewer	$	2,400	$	3,107	$	750	$	3,857	$	3,000	
Sidewalk & Asphault Maintenance	$	-	$	-	$	-	$	-	$	-	
Irrigation Repairs	$	3,000	$	6,243	$	1,000	$	7,243	$	6,000	
Irrigation - Usage	$	30,000	$	49,721	$	9,944	$	59,665	$	30,000	
General Repairs & Maintenance	$	20,000	$	-	$	10,000	$	10,000	$	20,000	
Contingency	$	10,000	$	-	$	5,000	$	5,000	$	6,273	
Subtotal Field Expenditures	$	359,612	$	216,178	$	44,657	$	260,835	$	349,986	

Amenity Expenditures
Staffing	

$	75,000	

$	858	

$	1,717	

$	2,575	

$	75,000	
Property Insurance	$	20,000	$	-	$	-	$	-	$	20,000	
Amenity - Electric	$	15,000	$	-	$	-	$	-	$	15,000	
Amenity - Water	$	6,000	$	1,606	$	400	$	2,006	$	6,000	
Dues, License, Permits	$	500	$	375	$	-	$	375	$	500	
Internet	$	2,400	$	-	$	-	$	-	$	2,400	
Pest Control	$	720	$	-	$	-	$	-	$	720	
Janitorial Services	$	12,000	$	75	$	-	$	75	$	12,000	
Security Services	$	5,000	$	-	$	-	$	-	$	5,000	
Pool Mainteance	$	15,000	$	2,700	$	1,350	$	4,050	$	20,000	
Amenity Repairs & Maintenance	$	15,000	$	-	$	-	$	-	$	15,000	
Special Events	$	7,500	$	-	$	-	$	-	$	7,500	
Holiday Decorations	$	2,500	$	-	$	-	$	-	$	10,000	
Contingency	$	15,000	$	-	$	-	$	-	$	10,000	
Subtotal Amenity Expenditures	$	191,620	$	5,614	$	3,467	$	9,081	$	199,120	
						
Total Operations & Maintenance	$	551,232	$	221,792	$	48,123	$	269,915	$	549,106	
						
Total Expenditures	$	685,989	$	307,730	$	60,139	$	367,869	$	685,989	
						
Excess Revenues/(Expenditures)	$	(0)	$	147,903	$	(58,702)	$	89,201	$	-	
	
Net Assessments	
$	685,989				
	Add: Discounts & Collections 6%	$	43,787				
	Gross Assessments	$	729,775				

Product	
Assessable Units	

ERU	

Total ERU's	

Net Assessment	

Net Per Unit (6%)	

Gross Per Unit	
	Townhouse	218	0.75	163.50	$	203,293	$	932.54	$	992.06	
	Single Family	149	1.00	149.00	$	185,263	$	1,243.38	$	1,322.74	
	Unplatted	236	0.18	43.09	$	53,573	$	227.00	$	241.49	
Total		603		355.59	$	442,129			

Revenues:

Assessments

The District will levy a non-ad valorem assessment on all the assessable property within the District in order to pay for the operating expenditures during the fiscal year.

Developer Contributions

The District will enter into a Deficit Funding Agreement with the Developer to fund any General Fund expenditures remaining once all assessment funds have been utilized.

Expenditures:

General & Administrative:

Supervisor Fees

Chapter 190, Florida Statutes, allows for each Board member to receive $200 per meeting, not to exceed $4,800 per year paid to each Supervisor for the time devoted to District business and meetings.

FICA Expense

Represents the Employer’s share of Social Security and Medicare taxes withheld from the Board of Supervisor checks.

Engineering Fees

The District's engineer provides general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review invoices and various projects as directed by the Board of Supervisors and the District Manager.

Attorney Fees

The District's legal counsel provides general legal services to the District, e.g. attendance and preparation for meetings, preparation and review of agreements, resolutions, etc. as directed by the Board of Supervisors and the District Manager.

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis.

Assessment Administration

The District will contract to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on Series 2022 bond issuance.

Dissemination Fees

The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(5) which relates to additional reporting requirements for unrated bond issues. This cost is based on the Series 2022 bond issuance.

Trustee Fees

The District will incur trustee related costs with the issuance of its’ issued bonds.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-Central Florida, LLC. The services include but are not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reports, annual audits, etc.

Information Technology

Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, positive pay implementation and programming for fraud protection, accounting software, tablets for meetings, Adobe, Microsoft Office, etc.

Website Maintenance

Represents the costs associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc.

Telephone

Telephone and fax machine.

Postage & Delivery

The District incurs charges for mailing of Board meeting agenda packages, overnight deliveries, correspondence, etc.

Insurance

The District’s general liability and public official’s liability insurance coverages.

Printing & Binding

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

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 incurred during the year.

Office Supplies

Any supplies that may need to be purchased during the fiscal year, e.g., paper, minute books, file folders, labels, paper clips, etc.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Florida Department of Economic Opportunity for $175.

Operations & Maintenance:

Field Expenses

Field Management

Represents the estimated costs of contracting services that provide onsite field management of contracts for the District such as landscape and lake maintenance. Services can include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Landscape Maintenance

Represents the estimated maintenance of the landscaping within the common areas of the District after the installation of landscape material has been completed.

Landscape Contingency

Represents the estimated cost of replacing landscaping within the common areas of the District.

Lake Maintenance

Represents the estimated maintenance of the lake within the common areas of the District.

Streetlights

Represents the cost to maintain street lights within the District Boundaries that are expected to be in place throughout the fiscal year.

Electric

Represents current and estimated electric charges of common areas throughout the District.

Water & Sewer

Represents current and estimated costs for water and refuse services provided for common areas throughout the District.

Irrigation Repairs

Represents the cost of maintaining and repairing the irrigation system. This includes the sprinklers, and irrigation wells.

Irrigation - Usage

Represents the estimated costs for water irrigation system. This includes the sprinklers, and irrigation wells.

General Repairs & Maintenance

Represents estimated costs for general repairs and maintenance of the District’s common areas.

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any field category.
Amenity Expenses

Staffing

Represents compensation for the Amenity Center staff which provides funds for employee benefits.

Property Insurance

The District’s property and casualty insurance coverages.

Amenity - Electric

Represents estimated electric charges for the District’s amenity facilities.

Amenity – Water

Represents estimated water charges for the District’s amenity facilities.

Dues, License, Permits

Any cost incurred for Permits and Licenses.

Internet

Internet service will be added for use at the Amenity Center.

Pest Control

The District will incur costs for pest control treatments to its amenity facilities. Janitorial Services
Represents costs to provide janitorial services and supplies for the District’s amenity facilities. Security Services
Represents the cost of contracting a monthly security service for the District’s amenity facilities.
Pool Maintenance

Represents the costs of regular cleaning and treatments of the District’s pool.

Amenity Repairs & Maintenance

Represents estimated costs for repairs and maintenance of the District’s amenity facilities.

Special Events

The Facilities Manager will coordinate and provide various activities throughout the year. The amount represents the cost of supplies, notice of events, etc.

Holiday Decorations

The District will incur costs to related to the decoration of common areas during the Holidays.

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any amenity category.
Adopted Budget
Debt Service Fund Series 2022

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget		
Description	FY2025	8/31/25	1 Month	9/30/25	FY2026		

Revenues						
Assessments - On Roll	$	381,859	$	384,677	$	2,570	$	387,247	$	670,238	
Assessments - Direct	$	288,379	$	288,379	$	86,294	$	374,673	$	-	
Interest	$	-	$	34,353	$	17,177	$	51,530	$	15,000	
Carry Forward Surplus (1)	$	241,260	$	252,416	$	-	$	252,416	$	368,386	
Total Revenues	$	911,498	$	959,825	$	106,040	$	1,065,865	$ 1,053,624	

Expenditures						
Interest - 11/1	$	221,556	$	221,556	$	-	$	221,556	$	217,819	
Principal - 5/1	$	230,000	$	230,000	$	-	$	230,000	$	235,000	
Interest - 5/1	$	221,556	$	221,556	$	-	$	221,556	$	217,819	
Total Expenditures	$	673,113	$	673,112	$	-	$	673,112	$	670,638	
Other Sources/(Uses)						
Transfer In/(Out)	$	-	$	(24,367)	$	-	$	(24,367)	$	-	
Total Other Sources/(Uses)	$	-	$	(24,367)	$	-	$	(24,367)	$	-	
						
Excess Revenues/(Expenditures)	$	238,386	$	262,346	$	106,040	$	368,386	$	382,986	

(1) Carryforward Surplus is net of Debt Service Reserve Funds
Interest - 11/1  $
214,000

Product	
Assessable Units	Maximum Annual Debt Service	
Net Per Unit	
Gross Per Unit	
Townhouse	218	$	199,788	$	916.46	$	974.96	
Single Family - 50'	334	$	408,130	$	1,221.95	$	1,299.94	
Single Family - 70'	51	$	62,319	$	1,221.95	$	1,299.94	
Total	603	$	670,238			

DATE		BALANCE		PRINCIPAL		INTEREST		TOTAL	

11/01/23	
$	
11,395,000.00	
$	
-	
$	
225,131.25	
$	
668,756.25	
05/01/24	$	11,395,000.00	$	220,000.00	$	225,131.25	$	-	
11/01/24	$	11,175,000.00	$	-	$	221,556.25	$	666,687.50	
05/01/25	$	11,175,000.00	$	230,000.00	$	221,556.25	$	-	
11/01/25	$	10,465,000.00	$	-	$	217,818.75	$	669,375.00	
05/01/26	$	10,465,000.00	$	235,000.00	$	217,818.75	$	-	
11/01/26	$	10,465,000.00	$	-	$	214,000.00	$	666,818.75	
05/01/27	$	10,465,000.00	$	245,000.00	$	214,000.00	$	-	
11/01/27	$	10,465,000.00	$	-	$	210,018.75	$	669,018.75	
05/01/28	$	10,465,000.00	$	250,000.00	$	210,018.75	$	-	
11/01/28	$	10,215,000.00	$	-	$	205,518.75	$	665,537.50	
05/01/29	$	10,215,000.00	$	260,000.00	$	205,518.75	$	-	
11/01/29	$	9,955,000.00	$	-	$	200,838.75	$	666,357.50	
05/01/30	$	9,955,000.00	$	270,000.00	$	200,838.75	$	-	
11/01/30	$	9,115,000.00	$	-	$	195,978.75	$	666,817.50	
05/01/31	$	9,115,000.00	$	280,000.00	$	195,978.75	$	-	
11/01/31	$	9,115,000.00	$	-	$	190,938.75	$	666,917.50	
05/01/32	$	9,115,000.00	$	290,000.00	$	190,938.75	$	-	
11/01/32	$	9,115,000.00	$	-	$	185,718.75	$	666,657.50	
05/01/33	$	9,115,000.00	$	300,000.00	$	185,718.75	$	-	
11/01/33	$	8,815,000.00	$	-	$	179,718.75	$	665,437.50	
05/01/34	$	8,815,000.00	$	315,000.00	$	179,718.75	$	-	
11/01/34	$	8,500,000.00	$	-	$	173,418.75	$	668,137.50	
05/01/35	$	8,500,000.00	$	330,000.00	$	173,418.75	$	-	
11/01/35	$	8,170,000.00	$	-	$	166,818.75	$	670,237.50	
05/01/36	$	8,170,000.00	$	340,000.00	$	166,818.75	$	-	
11/01/36	$	7,830,000.00	$	-	$	160,018.75	$	666,837.50	
05/01/37	$	7,830,000.00	$	355,000.00	$	160,018.75	$	-	
11/01/37	$	7,475,000.00	$	-	$	152,918.75	$	667,937.50	
05/01/38	$	7,475,000.00	$	370,000.00	$	152,918.75	$	-	
11/01/38	$	7,105,000.00	$	-	$	145,518.75	$	668,437.50	
05/01/39	$	7,105,000.00	$	385,000.00	$	145,518.75	$	-	
11/01/39	$	6,720,000.00	$	-	$	137,818.75	$	668,337.50	
05/01/40	$	6,720,000.00	$	400,000.00	$	137,818.75	$	-	

DATE		BALANCE		PRINCIPAL		INTEREST		TOTAL	

11/01/40	
$	
5,470,000.00	
$	
-	
$	
129,818.75	
$	
667,637.50	
05/01/41	$	5,470,000.00	$	415,000.00	$	129,818.75	$	-	
11/01/41	$	5,470,000.00	$	-	$	121,518.75	$	666,337.50	
05/01/42	$	5,470,000.00	$	435,000.00	$	121,518.75	$	-	
11/01/42	$	5,470,000.00	$	-	$	112,818.75	$	669,337.50	
05/01/43	$	5,470,000.00	$	450,000.00	$	112,818.75	$	-	
11/01/43	$	5,020,000.00	$	-	$	103,537.50	$	666,356.25	
05/01/44	$	5,020,000.00	$	470,000.00	$	103,537.50	$	-	
11/01/44	$	4,550,000.00	$	-	$	93,843.75	$	667,381.25	
05/01/45	$	4,550,000.00	$	490,000.00	$	93,843.75	$	-	
11/01/45	$	4,060,000.00	$	-	$	83,737.50	$	667,581.25	
05/01/46	$	4,060,000.00	$	510,000.00	$	83,737.50	$	-	
11/01/46	$	3,550,000.00	$	-	$	73,218.75	$	666,956.25	
05/01/47	$	3,550,000.00	$	530,000.00	$	73,218.75	$	-	
11/01/47	$	3,020,000.00	$	-	$	62,287.50	$	665,506.25	
05/01/48	$	3,020,000.00	$	555,000.00	$	62,287.50	$	-	
11/01/48	$	2,465,000.00	$	-	$	50,840.63	$	668,128.13	
05/01/49	$	2,465,000.00	$	580,000.00	$	50,840.63	$	-	
11/01/49	$	1,885,000.00	$	-	$	38,878.13	$	669,718.75	
05/01/50	$	1,885,000.00	$	600,000.00	$	38,878.13	$	-	
11/01/50	$	1,285,000.00	$	-	$	26,503.13	$	665,381.25	
05/01/51	$	1,285,000.00	$	630,000.00	$	26,503.13	$	-	
11/01/51	$	655,000.00	$	-	$	13,509.38	$	670,012.50	
05/01/52	$	655,000.00	$	655,000.00	$	13,509.38	$	668,509.38	
			$	11,395,000.00	$	8,188,525.00	$	20,027,150.00