Adopted Budget	
Fiscal Year 2023	
Fiscal Year 2024	

Princeton Commons	
Community Development District	

April 21, 2023

Prepared by:

Princeton Commons		
Community Development District		
	FY2023		FY2024	
	Adopted Budget		Adopted Budget	
Revenues				
Developer Contributions/Assessments	$68,208		$68,208	
Total Revenues	$68,208		$68,208	

Expenditures				
Administrative
Engineering	
$3,000		
$3,000	
Arbitrage	$550		$550	
Dissemination	$2,000		$2,000	
Assessment Roll	$2,000		$2,000	
Attorney	$15,000		$15,000	
Annual Audit	$5,000		$5,000	
Trustee Fees	$4,000		$4,000	
Management Fees	$25,000		$25,000	
Computer Time	$1,000		$1,000	
Website Administration	$1,000		$1,000	
Telephone	$100		$100	
Postage	$500		$500	
Printing & Binding	$250		$250	
Insurance	$6,000		$6,000	
Legal Advertising	$1,500		$1,500	
Other Current Charges	$1,000		$1,000	
Office Supplies	$133		$133	
Dues, Licenses & Subscriptions	$175		$175	
Field				
Contingency	$0		$0	
Total Expenditures	$68,208		$68,208	
				
Excess Revenues/Expenditures	$0		$0	
	
Per Unit		
Total	

Gross Assessment	$825	$71,798	
Less: Disc.& Coll. (5%)	($41)	($3,590)	
Net Assessment	$784	$68,208	
Number of Units	87		

Page 1

REVENUES:

Developer Contributions/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
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.

Assessment Roll
Represents cost associated with annually levying and collection Non-Ad Valorem Assessments utilized to fund the operating and debt service cost of the District.

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 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.

Computer Time

The District processes all of its financial activities, i.e. accounts payable, financial statements, etc. on a main frame computer leased by Governmental Management Services – South Florida, LLC.

Website 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.

Telephone
Telephone and fax machine

Administrative: (continued)

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.

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.

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.