Adopted Budget
Fiscal Year 2022

Kingman Gate
Community Development District

July 16, 2021

Kingman Gate
Community Development District

General Fund

Adopted Budget
     FY 2021	

Actual Thru
   6/30/2021 

Projected Next
    3 Months 

Total Projected
   9/30/2021 

Adopted Budget
     FY 2022	

 Description	

Revenues

Maintenance Assessments Direct Assessments
Total Revenues

$180,950
$0

$181,039
$485

$0
$0

$181,039
$485

$180,950
$0

 	$180,950 

 	$181,524 

 	$0 

 	$181,524 

 	$180,950 

Expenditures

Administrative
Engineering Arbitrage Dissemination Agent Assessment Roll Attorney
Annual Audit Trustee Fees Management Fees Telephone Postage
Printing & Binding Insurance
Legal Advertising Other Current Charges Website Admin
Office Supplies
Dues, Licenses & Subscriptions First Quarter Operating
Total Administrative

$12,000
$0
$0
$4,000
$20,000
$3,000
$0
$36,000
$50
$750
$1,000
$5,500
$2,500
$500
$1,200
$150
$175
$23,015

$639
$0
$0
$4,000
$6,387
$0
$0
$27,000
$0
$0
$0
$5,000
$0
$222
$900
$0
$175
$0

$5,000
$550
$0
$0
$3,194
$3,400
$0
$9,000
$50
$500
$250
$0
$1,000
$74
$300
$150
$0
$0

$5,639
$550
$0
$4,000
$9,581
$3,400
$0
$36,000
$50
$500
$250
$5,000
$1,000
$296
$1,200
$150
$175
$0

$10,000
$1,100
$3,500
$4,000
$20,000
$3,500
$5,675
$36,000
$50
$750
$1,000
$5,500
$2,500
$500
$1,200
$150
$175
$14,240

 	$109,840 

 	$44,323 

 	$23,468

 	$67,790

 	$109,840 

Field
Landscape Maintenance Plant  Replacement Lake Maintenance
Lake Debris Removal Contingency

$48,000
$6,000
$8,800
$2,000
$6,310

$14,062
$0
$0
$0
$0

$4,821
$6,000
$8,800
$2,000
$6,310

$18,883
$6,000
$8,800
$2,000
$6,310

$48,000
$6,000
$8,800
$2,000
$6,310

Total Field

 	$71,110

 	$14,062 

 	$27,931

 	$41,993

 	$71,110 

Total Expenditures

 	$180,950 

 	$58,385 

 	$51,399

 	$109,783 

 	$180,950 

Excess Revenues (Expenditures)

 	$0 

$123,140

($51,399)

$71,741

$0

Page 1

Gross Assessment	$190,473.68 Less: Disc & Coll (5%)		($9,523.68)
Net Assessment	$180,950.00 # Units	              770
Per Unit Gross Assessment	$247.37 Per Unit Net Assessment	$235.00

Kingman Gate
Community Development District

GENERAL FUND BUDGET

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.

EXPENDITURES:

Administrative:

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 Rebate
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 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.

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 bonds will be held and administered by a Trustee. This represents the banks 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.

Telephone
Represents the cost of conference calls.

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

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

Assessment Roll
The costs associated with preparing, processing and administering the annual assessment place on the County’s tax roll.

Insurance
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.

Page 2

Kingman Gate
Community Development District

GENERAL FUND BUDGET

Administrative: (continued)

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.

Website Administration
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.

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.

First Quarter Operating
Total expenditures needed to operate the beginning of the first quarter for the district.

Field:

Landscape Maintenance
Landscaping of the common area. Includes grass cutting, pest control, fertilization, mulching, pruning and porter service.

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

Lake Maintenance
Includes monthly cleaning of all District lakes.

Lake Debris Removal
Includes cleaning of lake shorelines of any debris.

Contingency
Includes any miscellaneous expense related to the maintenance of the common areas.

Page 3

Kingman Gate
Community Development District

Debt Service Fund
Series 2020 Special Assessment Bond

Adopted Budget FY 2021

Actual thru 6/30/2021

Projected Next
3 Months

Total Projected at 9/30/2021

Adopted Budget FY 2022

 Description	

Revenues

Special Assessments Interest Income
Carry Forward Surplus (1)

$468,738
$0
$124,005

$468,966
$24
$124,005

$0
$0
$0

$468,966
$24
$124,005

$468,738
$0
$154,037

Total Revenues

 	$592,743 

 	$592,995 

 	$0 

 	$592,995 

 	$622,775 

Expenditures

Series 2020 Interest 12/15 Interest 06/15 Principal 06/15

$124,005
$155,006
$160,000

$124,005
$155,006
$160,000

$0
$0
$0

$124,005
$155,006
$160,000

$152,806
$152,806
$165,000

Total Expenditures

 	$439,011 

 	$439,011 

 	$0 

 	$439,011 

 	$470,613 

Other Financing Sources/(Uses)
Interfund Transfer Out

$0

$53

$0

$53

$0

Total Other Financing Sources/(Uses)

 	$0 

 	$53 

 	$0 

 	$53 

 	$0 

Excess Revenues (Expenditures)

 	$153,732 

$154,037

$0

$154,037

$152,162

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

12/15/22 Interest

$

150,538

Page 4

Land Use

Gross Assessments
 	Per Unit		No. of Units	Units Phase 1
$1,350.62	117	117
$1,269.58	349	142
$1,175.04	304	132
770	391

Total Gross Assessments Less: Discount & Collection fees (5%)
Total Net Assessments

Total Gross Debt

Single Family Townhomes Villas

$158,022.54
$180,280.36
$155,105.28

$493,408.18

$493,408.18
-$24,670.41

$468,737.77

Kingman Gate
Community Development District

Series 2020 Special Assessment Bond
Amortization Schedule

PRINCIPAL
 	BALANCE	

 	DATE	

     RATE	

 	INTEREST	

 	PRINCIPAL	

 	TOTAL	

12/15/20
06/15/21

$8,225,000.00
$8,225,000.00

2.750%
2.750%

$124,005.00
$155,006.25

$0.00
$160,000.00

$439,011.25

12/15/22
06/15/23
12/15/23
06/15/24
12/15/24
06/15/25
12/15/25
06/15/26
12/15/26
06/15/27
12/15/27
06/15/28
12/15/28
06/15/29
12/15/29
06/15/30
12/15/30
06/15/31
12/15/31
06/15/32
12/15/32
06/15/33
12/15/33
06/15/34
12/15/34
06/15/35
12/15/35
06/15/36
12/15/36
06/15/37
12/15/37
05/15/38
12/15/38
06/15/39
12/15/39
06/15/40
12/15/40
06/15/41
12/15/41
06/15/42
12/15/42
06/15/43
12/15/43
06/15/44
12/15/44
06/15/45
12/15/45
06/15/46
12/15/46
06/15/47
12/15/47
06/15/48
12/15/48
06/15/49
12/15/49
06/15/50

$7,900,000.00
$7,900,000.00
$7,730,000.00
$7,730,000.00
$7,560,000.00
$7,560,000.00
$7,385,000.00
$7,385,000.00
$7,205,000.00
$7,205,000.00
$7,015,000.00
$7,015,000.00
$6,820,000.00
$6,820,000.00
$6,620,000.00
$6,620,000.00
$6,415,000.00
$6,415,000.00
$6,200,000.00
$6,200,000.00
$5,975,000.00
$5,975,000.00
$5,745,000.00
$5,745,000.00
$5,505,000.00
$5,505,000.00
$5,255,000.00
$5,255,000.00
$4,995,000.00
$4,995,000.00
$4,725,000.00
$4,725,000.00
$4,440,000.00
$4,440,000.00
$4,145,000.00
$4,145,000.00
$3,840,000.00
$3,840,000.00
$3,520,000.00
$3,520,000.00
$3,190,000.00
$3,190,000.00
$2,845,000.00
$2,845,000.00
$2,485,000.00
$2,485,000.00
$2,110,000.00
$2,110,000.00
$1,720,000.00
$1,720,000.00
$1,315,000.00
$1,315,000.00
$895,000.00
$895,000.00
$455,000.00
$455,000.00

2.750%
2.750%
2.750%
2.750%
2.750%
2.750%
3.125%
3.125%
3.125%
3.125%
3.125%
3.125%
3.125%
3.125%
3.125%
3.125%
3.125%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%

$150,537.50
$150,537.50
$148,200.00
$148,200.00
$145,862.50
$145,862.50
$143,456.25
$143,456.25
$140,643.75
$140,643.75
$137,675.00
$137,675.00
$134,628.13
$134,628.13
$131,503.13
$131,503.13
$128,300.00
$128,300.00
$124,000.00
$124,000.00
$119,500.00
$119,500.00
$114,900.00
$114,900.00
$110,100.00
$110,100.00
$105,100.00
$105,100.00
$99,900.00
$99,900.00
$94,500.00
$94,500.00
$88,800.00
$88,800.00
$82,900.00
$82,900.00
$76,800.00
$76,800.00
$70,400.00
$70,400.00
$63,800.00
$63,800.00
$56,900.00
$56,900.00
$49,700.00
$49,700.00
$42,200.00
$42,200.00
$34,400.00
$34,400.00
$26,300.00
$26,300.00
$17,900.00
$17,900.00
$9,100.00
$9,100.00

$0.00
$170,000.00
$0.00
$170,000.00
$0.00
$175,000.00
$0.00
$180,000.00
$0.00
$190,000.00
$0.00
$195,000.00
$0.00
$200,000.00
$0.00
$205,000.00
$0.00
$215,000.00
$0.00
$225,000.00
$0.00
$230,000.00
$0.00
$240,000.00
$0.00
$250,000.00
$0.00
$260,000.00
$0.00
$270,000.00
$0.00
$285,000.00
$0.00
$295,000.00
$0.00
$305,000.00
$0.00
$320,000.00
$0.00
$330,000.00
$0.00
$345,000.00
$0.00
$360,000.00
$0.00
$375,000.00
$0.00
$390,000.00
$0.00
$405,000.00
$0.00
$420,000.00
$0.00
$440,000.00
$0.00
$455,000.00

$471,075.00

$466,400.00

$466,725.00

$466,912.50

$471,287.50

$470,350.00

$469,256.25

$468,006.25

$471,600.00

$473,000.00

$469,000.00

$469,800.00

$470,200.00

$470,200.00

$469,800.00

$474,000.00

$472,600.00

$470,800.00

$473,600.00

$470,800.00

$472,600.00

$473,800.00

$474,400.00

$474,400.00

$473,800.00

$472,600.00

$475,800.00

$473,200.00

 	Total	

 	$5,880,636.25

 	$8,225,000.00

 	$13,632,436.25

Page 5

12/15/21	$8,065,000.00	2.750%	$152,806.25	$0.00
06/15/22	$8,065,000.00	2.750%	$152,806.25	$165,000.00	$470,612.50

Kingman Gate
Community Development District

Debt Service Fund
Series 2021 Special Assessment Bond

Adopted Budget FY 2021

Actual thru 6/30/2021

Projected Next
3 Months

Total Projected at 9/30/2021

Adopted Budget FY 2022

 Description	

Revenues

Direct Assessments

$0
$0
$0
$0

$2,488
$0
$3
$0

$136,000
$0
$0
$0

$138,488
$0
$3
$0

$0
$438,603
$0
$138,488

Interest Income
Carry Forward Surplus (1)

Total Revenues

 	$0 

 	$2,491 

 	$136,000 

 	$138,491 

 	$577,091 

Expenditures

Series 2021 Interest 12/15 Interest 06/15 Principal 06/15

$0
$64,327
$0

$0
$64,327
$0

$0
$0
$0

$0
$64,327
$0

$141,206
$141,206
$155,000

Total Expenditures

 	$64,327

 	$64,327 

 	$0 

 	$64,327

 	$437,411 

Other Financing Sources/(Uses)
Bond Proceeds Interfund Transfer Out

$283,627
$0

$283,627
($3)

$0
$0

$283,627
($3)

$0
$0

Total Other Financing Sources/(Uses)

 	$283,627 

 	$283,624 

 	$0 

 	$283,624 

 	$0 

Excess Revenues (Expenditures)

 	$219,300 

$221,788

$136,000

$357,788

$139,679

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

12/15/22 Interest

$

139,268

Page 6

Land Use

Gross Assessments
 	Per Unit		No. of Units	Units Phase 2
$1,350.62	117	0
$1,260.79	349	207
$1,166.88	304	172
770	379

Total Gross Assessments Less: Discount & Collection fees (5%)
Total Net Assessments

Total Gross Debt

Single Family Townhomes Villas

$0.00
$260,983.53
$200,703.36

$461,686.89

$461,686.89
-$23,084.34

$438,602.55

Kingman Gate
Community Development District

Series 2021 Special Assessment Bond
Amortization Schedule

PRINCIPAL
 	BALANCE	

 	DATE	

     RATE	

 	INTEREST	

 	PRINCIPAL	

 	TOTAL	

06/15/21

$7,820,000.00

2.750%

$64,327.01

$0.00

$64,327.01

12/15/22
06/15/23
12/15/23
06/15/24
12/15/24
06/15/25
12/15/25
06/15/26
12/15/26
06/15/27
12/15/27
06/15/28
12/15/28
06/15/29
12/15/29
06/15/30
12/15/30
06/15/31
12/15/31
06/15/32
12/15/32
06/15/33
12/15/33
06/15/34
12/15/34
06/15/35
12/15/35
06/15/36
12/15/36
06/15/37
12/15/37
05/15/38
12/15/38
06/15/39
12/15/39
06/15/40
12/15/40
06/15/41
12/15/41
06/15/42
12/15/42
06/15/43
12/15/43
06/15/44
12/15/44
06/15/45
12/15/45
06/15/46
12/15/46
06/15/47
12/15/47
06/15/48
12/15/48
06/15/49
12/15/49
06/15/50
12/15/51
06/15/52

$7,665,000.00
$7,665,000.00
$7,505,000.00
$7,505,000.00
$7,340,000.00
$7,340,000.00
$7,170,000.00
$7,170,000.00
$7,000,000.00
$7,000,000.00
$6,825,000.00
$6,825,000.00
$6,640,000.00
$6,640,000.00
$6,450,000.00
$6,450,000.00
$6,255,000.00
$6,255,000.00
$6,055,000.00
$6,055,000.00
$5,845,000.00
$5,845,000.00
$5,630,000.00
$5,630,000.00
$5,405,000.00
$5,405,000.00
$5,175,000.00
$5,175,000.00
$4,935,000.00
$4,935,000.00
$4,685,000.00
$4,685,000.00
$4,425,000.00
$4,425,000.00
$4,160,000.00
$4,160,000.00
$3,885,000.00
$3,885,000.00
$3,600,000.00
$3,600,000.00
$3,300,000.00
$3,300,000.00
$2,990,000.00
$2,990,000.00
$2,665,000.00
$2,665,000.00
$2,330,000.00
$2,330,000.00
$1,980,000.00
$1,980,000.00
$1,615,000.00
$1,615,000.00
$1,235,000.00
$1,235,000.00
$840,000.00
$840,000.00
$430,000.00
$430,000.00

2.750%
2.750%
2.750%
2.750%
2.750%
2.750%
3.125%
3.125%
3.125%
3.125%
3.125%
3.125%
3.125%
3.125%
3.125%
3.125%
3.125%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
4.000%
 	
 	Total	

$139,268.13
$139,268.13
$137,268.13
$137,268.13
$135,205.63
$135,205.63
$133,080.63
$133,080.63
$130,955.63
$130,955.63
$128,221.25
$128,221.25
$125,330.63
$125,330.63
$122,361.88
$122,361.88
$119,315.00
$119,315.00
$116,190.00
$116,190.00
$112,410.00
$112,410.00
$108,540.00
$108,540.00
$104,490.00
$104,490.00
$100,350.00
$100,350.00
$96,030.00
$96,030.00
$91,530.00
$91,530.00
$86,850.00
$86,850.00
$82,080.00
$82,080.00
$77,130.00
$77,130.00
$72,000.00
$72,000.00
$66,000.00
$66,000.00
$59,800.00
$59,800.00
$53,300.00
$53,300.00
$46,600.00
$46,600.00
$39,600.00
$39,600.00
$32,300.00
$32,300.00
$24,700.00
$24,700.00
$16,800.00
$16,800.00
$8,600.00
$8,600.00
 	$0.00
 	$5,479,352.09

$0.00
$160,000.00
$0.00
$165,000.00
$0.00
$170,000.00
$0.00
$170,000.00
$0.00
$175,000.00
$0.00
$185,000.00
$0.00
$190,000.00
$0.00
$195,000.00
$0.00
$200,000.00
$0.00
$210,000.00
$0.00
$215,000.00
$0.00
$225,000.00
$0.00
$230,000.00
$0.00
$240,000.00
$0.00
$250,000.00
$0.00
$260,000.00
$0.00
$265,000.00
$0.00
$275,000.00
$0.00
$285,000.00
$0.00
$300,000.00
$0.00
$310,000.00
$0.00
$325,000.00
$0.00
$335,000.00
$0.00
$350,000.00
$0.00
$365,000.00
$0.00
$380,000.00
$0.00
$395,000.00
$0.00
$410,000.00
$0.00
$430,000.00
 	
 	$7,820,000.00

$438,536.26

$439,536.26

$440,411.26

$436,161.26

$436,911.26

$441,442.50

$440,661.26

$439,723.76

$438,630.00

$442,380.00

$439,820.00

$442,080.00

$438,980.00

$440,700.00

$442,060.00

$443,060.00

$438,700.00

$439,160.00

$439,260.00

$444,000.00

$442,000.00

$444,600.00

$441,600.00

$443,200.00

$444,200.00

$444,600.00

$444,400.00

$443,600.00

$447,200.00
 	
 	$12,408,552.09

Page 7

12/15/21	 	$7,820,000.00	2.750%	$141,205.63	$0.00
06/15/22	$7,820,000.00	2.750%	$141,205.63	$155,000.00	$437,411.26