Windsor at Westside
Community Development District

Adopted Budget
FY2023

Table of Contents

1-2	General Fund	

3-7	

General Fund Narrative	

8	

Debt Service Fund Series 2015	

9	

Amortization Schedule Series 2015	

10	

Debt Service Fund Series 2016	

11	

Amortization Schedule Series 2016	

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
	FY2022	7/31/22	2 Months	9/30/22	FY2023	

Revenues						
O&M Assessments	$	198,963	$	203,803	$	-	$	203,803	$	444,642	
Total Revenues	$	198,963	$	203,803	$	-	$	203,803	$	444,642	

Expenditures						
General & Administrative						
Supervisor Fee	$	-	$	1,200	$	1,200	$	2,400	$	7,200	
FICA Expense	$	-	$	61	$	31	$	92	$	367	
Engineering	$	5,000	$	3,700	$	1,300	$	5,000	$	5,000	
Attorney	$	10,000	$	2,371	$	1,667	$	4,038	$	10,000	
Arbitrage	$	450	$	450	$	450	$	900	$	900	
Dissemination	$	7,000	$	5,833	$	1,167	$	7,000	$	7,000	
Annual Audit	$	3,900	$	3,900	$	-	$	3,900	$	3,900	
Trustee Fees	$	7,000	$	7,000	$	-	$	7,000	$	7,000	
Assessment Administration	$	5,000	$	5,000	$	-	$	5,000	$	5,000	
Management Fees	$	39,393	$	32,828	$	6,566	$	39,393	$	41,363	
Information Technology	$	1,450	$	1,208	$	242	$	1,450	$	1,800	
Website Maintenance	$	800	$	667	$	133	$	800	$	1,000	
Telephone	$	100	$	-	$	17	$	17	$	100	
Postage	$	300	$	95	$	50	$	145	$	300	
Insurance	$	6,391	$	6,013	$	-	$	6,013	$	7,215	
Printing & Binding	$	500	$	317	$	83	$	400	$	500	
Legal Advertising	$	3,000	$	52	$	500	$	552	$	3,000	
Other Current Charges	$	1,000	$	551	$	449	$	1,000	$	1,000	
Property Appraiser	$	500	$	294	$	-	$	294	$	500	
Office Supplies	$	200	$	47	$	33	$	80	$	200	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total General & Administrative:	$	92,159	$	71,761	$	13,888	$	85,649	$	103,520	

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
	FY2022	7/31/22	2 Months	9/30/22	FY2023	

Operations & Maintenance						
Contract Services						
Field Services	$	10,129	$	8,441	$	1,688	$	10,129	$	10,635	
Landscape Maintenance - Contract	$	60,000	$	30,870	$	10,290	$	41,160	$	63,000	
Lake Maintenance	$	10,500	$	8,200	$	1,640	$	9,840	$	10,500	
Wetland Monitoring & Maintenance	$	9,400	$	-	$	4,700	$	4,700	$	9,400	
Property Insurance	$	2,467	$	2,322	$	-	$	2,322	$	2,786	
Repairs & Maintenance						
Landscape Maintenance - Other	$	10,000	$	2,167	$	1,667	$	3,834	$	10,000	
Repairs and Maintenance	$	2,500	$	250	$	417	$	667	$	2,500	
Operating Supplies	$	1,000	$	-	$	167	$	167	$	1,000	
Irrigation Repairs	$	7,000	$	4,554	$	1,167	$	5,721	$	10,000	
Signage	$	800	$	-	$	133	$	133	$	800	
Fountain Maintenance	$	2,400	$	1,050	$	750	$	1,800	$	2,520	
Subtotal	$	116,196	$	57,854	$	22,618	$	80,472	$	123,141	
Utilitiy						
Electric	$	4,800	$	3,385	$	800	$	4,185	$	5,280	
Irrigation & Water	$	2,000	$	1,761	$	340	$	2,101	$	202,200	
Other						
Contingency	$	500	$	-	$	500	$	500	$	10,500	
Subtotal	$	7,300	$	5,146	$	1,640	$	6,786	$	217,980	
						
Total Operations & Maintenance:	$	123,496	$	62,999	$	24,258	$	87,258	$	341,121	
						
Total Expenditures	$	215,655	$	134,761	$	38,146	$	172,906	$	444,642	
						
Excess Revenues/(Expenditures)	$	(16,692)	$	69,042	$	(38,146)	$	30,897	$	-	
						
Fund Balance - Beginning	$	16,692	$	172,378	$	-	$	172,378	$	-	
						
Fund Balance - Ending	$	-	$	241,420	$	(38,146)	$	203,275	$	-	

Net Assessments	
FY2022
$	198,963	
FY2023
$	444,642	
Add: Discounts & Collection 		$12,700 $		28,381  Gross Assessments  $	211,663  $	473,023 

FISCAL YEAR 2023

Product Type	Per Unit Net O&M
Assessment	Per Unit Gross O&M
Assessment	
Townhome - 25' Single Family 40'
Single Family 50'	$621
$663
$829	$661
$705
$882	

GROSS PER UNIT ASSESSMENT COMPARISON CHART

Product Type	
No. of Units	FY2022
Gross Per Unit Assessments	FY2023
Gross Per Unit Assessments	
Increase/ (Decrease)	
Townhome - 25'	148	$301	$661	$360	
Single Family 40'	192	$321	$705	$384	
Single Family 50'	272	$401	$882	$481	

REVENUES:

O&M 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.

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 3 supervisors attending 12 meetings.

FICA Expense

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

Engineering

The District's engineer, Osceola Engineering, Inc. provides general engineering services to the District,
e.g. attendance and preparation for monthly board meetings, review invoices, etc.

Attorney

The District's legal counsel, Kutak Rock, LLP, provides general legal services to the District, e.g. attendance and preparation for monthly meetings, preparation and review of agreements, resolutions, etc.

Arbitrage

The District will contract with AMTEC, an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on the Series 2015 & Series 2016 Special Assessment Bonds.

Dissemination

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. The District has contracted with Governmental Management Services-Central Florida, LLC for this service.

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records by an Independent Certified Public Accounting Firm. The District has contracted with Grau & Associates for this service.

Trustee Fees

The District issued Series 2015 Special Assessment Bonds and the Series 2016 Special Assessment Bonds that are deposited with a Trustee at Regions Bank.

Assessment Administration

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

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 reporting, 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, security, accounting software, etc. Governmental Management Services – Central Florida, LLC provides these systems.

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. Governmental Management Services – Central Florida, LLC provides these services.

Telephone

Telephone and fax machine.

Postage

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

Insurance

The District’s general liability and public officials liability coverage is provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Printing & Binding

Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc. Governmental Management Services – Central Florida, LLC provides these services.

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.

Property Appraiser

Represents a fee charged by Osceola County Property Appraiser’s office for assessment administration services.

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. Governmental Management Services – Central Florida, LLC provides these services.

Dues, Licenses & Subscriptions

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

Operation & Maintenance:

Field Services

Provide onsite field management of contracts for the Districts such as landscape and lake maintenance. Services to include onsite inspections, meetings with contractors, attend Board meetings and receive and respond to property owner phone calls and emails.

Landscape Maintenance - Contract

The District will maintain the landscaping within the Phase I common areas of the District. The amount is based upon contract with Exclusive Landscaping Group Inc. District anticipates Phase 2 ponds coming on board during fiscal year.

Description	Monthly	Annually	
Landscaping Maintenance	$	3,430	$	41,160	
Mulch for Common Areas	$	1,406	$	16,875	
Contingency		 $	4,965		
		$	63,000	

Lake Maintenance

The District will provide lake maintenance for 3 lakes. The District has contracted with Applied Aquatic Management, Inc. for this service.

Description	Monthly	Annually	
One Retention Pond	$	295	$	3,540	
Pond 2A Phase 2	$	275	$	3,300	
Pond 2B Phase 2	$	250	$	3,000	
Contingency			$	660 	
		$	10,500	

Wetland Monitoring & Maintenance

Represents estimated costs for the annual monitoring and maintenance of Phase 2 on-site wetlands and preservation areas within the District boundaries.

Description	Annually	
Mitigation Monitoring	$	3,000	
Mitigation Maintenance		$	6,400 	
	$	9,400	

Property Insurance		

The District’s property insurance coverage is provided by Florida Insurance Alliance (FIA) who specializes in providing insurance coverage to government agencies. FIA specializes in providing insurance coverage to governmental agencies.

Landscape Maintenance – Other

Represents estimated costs for any landscape repairs not included in landscape contract.

Repairs and Maintenance

Represents estimated costs for general repairs and maintenance to the common areas within Phase I of the District, including repairs and cleaning of walls and fencing maintained by the district.

Operating Supplies

Represents estimated cost of the purchase of operating supplies.

Irrigation Repairs

Represents estimated cost for any unforeseen repairs to the irrigation system such as replacing nozzles, rotors, line breaks, etc.

Signage

Represents estimated cost to maintain all District signs.

Fountain Maintenance

The District will provide maintenance to the fountain located within the District boundaries. Services include but are not limited to inspection reports, check and supply chemicals, clean area of debris and service three times per week. The District has contracted with Grunit Pool Contractors, Inc. for this service.

Description	Monthly	Annually	
Fountain Maintenance	$	150	$	1,800	
Contingency			$	720 	
		$	2,520	

Electric

Represents estimated cost for electric to common areas and electric used to operate irrigation meters within the District. The District currently has one account with Duke Energy.

Account #	Description	Monthly	Annually	
55906 38373	9000 W Irlo Bronson Memorial Hwy Sign	$	375	$	4,500	
Contingency				$	780 	
	TOTAL		$	5,280	

Irrigation & Water

Represents estimated cost for reclaimed water utilities of the common areas within the District.

Contingency

Represents estimated cost for any expense not budgeted in other line items.

Adopted Budget
Debt Service Fund Series 2015

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2022	7/31/22	2 Months	9/30/22	FY2023	

Revenues						
Special Assessments	$	276,388	$	278,313	$	-	$	278,313	$	276,443	
Interest Income	$	250	$	532	$	106	$	638	$	250	
Carry Forward Surplus	$	231,136	$	232,981	$	-	$	232,981	$	241,045	
Total Revenues	$	507,774	$	511,826	$	106	$	511,932	$	517,737	

Expenditures						
General & Administrative:						
Interest - 11/1	$	96,244	$	96,244	$	-	$	96,244	$	94,644	
Principal - 11/1	$	80,000	$	80,000	$	-	$	80,000	$	85,000	
Interest - 5/1	$	94,644	$	94,644	$	-	$	94,644	$	92,944	
Total Expenditures	$	270,888	$	270,888	$	-	$	270,888	$	272,588	
						
Excess Revenues/(Expenditures)	$	236,886	$	240,938	$	106	$	241,045	$	245,150	

Principal - 11/1/2023	
$	
90,000	
Interest - 11/1/2023   $	92,944 
Total	 $	182,944 

Product Type	
No. of Units	Maximum Annual
Debt Service	Per Unit Net Debt
Assessment	Per Unit Gross Debt
Assessment	
Townhome	96	$75,260	$784	$834	
Single Family 40	90	$96,952	$1,077	$1,146	
Single Family 50	76	$104,231	$1,371	$1,459	
	262	$276,443			

Series 2015 Special Assessment Bonds Amortization Schedule

Date	Balance	Prinicpal	Interest	Total

11/01/22	$	3,750,000.00	$	85	
05/01/23	$	3,665,000.00	$	
11/01/23	$	3,665,000.00	$	90	
05/01/24	$	3,575,000.00	$	
11/01/24	$	3,575,000.00	$	90	
05/01/25	$	3,485,000.00	$	
11/01/25	$	3,485,000.00	$	95	
05/01/26	$	3,390,000.00	$	
11/01/26	$	3,390,000.00	$	100	
05/01/27	$	3,290,000.00	$	
11/01/27	$	3,290,000.00	$	105	
05/01/28	$	3,185,000.00	$	
11/01/28	$	3,185,000.00	$	110	
05/01/29	$	3,075,000.00	$	
11/01/29	$	3,075,000.00	$	120	
05/01/30	$	2,955,000.00	$	
11/01/30	$	2,955,000.00	$	125	
05/01/31	$	2,830,000.00	$	
11/01/31	$	2,830,000.00	$	130	
05/01/32	$	2,700,000.00	$	
11/01/32	$	2,700,000.00	$	135	
05/01/33	$	2,565,000.00	$	
11/01/33	$	2,565,000.00	$	145	
05/01/34	$	2,420,000.00	$	
11/01/34	$	2,420,000.00	$	150	
05/01/35	$	2,270,000.00	$	
11/01/35	$	2,270,000.00	$	160	
05/01/36	$	2,110,000.00	$	
11/01/36	$	2,110,000.00	$	165	
05/01/37	$	1,945,000.00	$	
11/01/37	$	1,945,000.00	$	175	
05/01/38	$	1,770,000.00	$	
11/01/38	$	1,770,000.00	$	185	
05/01/39	$	1,585,000.00	$	
11/01/39	$	1,585,000.00	$	195	
05/01/40	$	1,390,000.00	$	
11/01/40	$	1,390,000.00	$	205	
05/01/41	$	1,185,000.00	$	
11/01/41	$	1,185,000.00	$	215	
05/01/42	$	970,000.00	$	
11/01/42	$	970,000.00	$	225	
05/01/43	$	745,000.00	$	
11/01/43	$	745,000.00	$	235	
05/01/44	$	510,000.00	$	
11/01/44	$	510,000.00	$	250	
05/01/45	$	260,000.00	$	
11/01/45	$	260,000.00	$	260	
			$	3,750	

$	94,643.75	$	272,587.50	
$	92,943.75		
$	92,943.75	$	273,637.50	
$	90,693.75		
$	90,693.75	$	269,137.50	
$	88,443.75		
$	88,443.75	$	269,512.50	
$	86,068.75		
$	86,068.75	$	269,637.50	
$	83,568.75		
$	83,568.75	$	269,512.50	
$	80,943.75		
$	80,943.75	$	269,137.50	
$	78,193.75		
$	78,193.75	$	273,387.50	
$	75,193.75		
$	75,193.75	$	272,262.50	
$	72,068.75		
$	72,068.75	$	270,887.50	
$	68,818.75		
$	68,818.75	$	269,262.50	
$	65,443.75		
$	65,443.75	$	272,262.50	
$	61,818.75		
$	61,818.75	$	269,887.50	
$	58,068.75		
$	58,068.75	$	272,137.50	
$	54,068.75		
$	54,068.75	$	268,909.38	
$	49,840.63		
$	49,840.63	$	270,196.88	
$	45,356.25		
$	45,356.25	$	270,971.88	
$	40,615.63		
$	40,615.63	$	271,234.38	
$	35,618.75		
$	35,618.75	$	270,984.38	
$	30,365.63		
$	30,365.63	$	270,221.88	
$	24,856.25		
$	24,856.25	$	268,946.88	
$	19,090.63		
$	19,090.63	$	267,159.38	
$	13,068.75		
$	13,068.75	$	269,731.25	
$	6,662.50		
$	6,662.50	$	266,662.50	

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-
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-
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-
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-
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-
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-
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-
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-
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-
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-
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-
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-
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-
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,000.00	$

2,738,268.75	$

6,488,268.75

Adopted Budget
Debt Service Fund Series 2016

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2022	7/31/22	2 Months	9/30/22	FY2023	

Revenues						
Assessments	$	418,750	$	422,288	$	-	$	422,288	$	419,451	
Interest	$	250	$	760	$	152	$	913	$	250	
Carry Forward Surplus	$	319,152	$	321,664	$	-	$	321,664	$	333,749	
Total Revenues	$	738,152	$	744,713	$	152	$	744,865	$	753,450	

Expenditures						
General & Administrative:						
Interest - 11/1	$	144,347	$	144,347	$	-	$	144,347	$	141,769	
Principal - 11/1	$	125,000	$	125,000	$	-	$	125,000	$	130,000	
Interest - 5/1	$	141,769	$	141,769	$	-	$	141,769	$	139,088	
Total Expenditures	$	411,116	$	411,116	$	-	$	411,116	$	410,856	
						
Excess Revenues/(Expenditures)	$	327,036	$	333,597	$	152	$	333,749	$	342,594	

Principal - 11/1/2023  $	140,000
Interest - 11/1/2023   $	139,088 
Total	 $	279,088 

Product Type	
No. of Units	Maximum Annual
Debt Service	Per Unit Net Debt
Assessment	Per Unit
Gross Debt Assessment	
Townhome 25'	52	$40,766	$784	$834	
Single Family 40'	102	$109,878	$1,077	$1,146	
Single Family 50'	196	$268,806	$1,371	$1,459	
	350	$419,451			

Series 2016 Special Assessment Bonds Amortization Schedule

Date	Balance	Prinicpal	Interest	Total

11/01/22	$	5,930,000.00	$	130	
05/01/23	$	5,800,000.00	$	
11/01/23	$	5,800,000.00	$	140	
05/01/24	$	5,660,000.00	$	
11/01/24	$	5,660,000.00	$	145	
05/01/25	$	5,515,000.00	$	
11/01/25	$	5,515,000.00	$	150	
05/01/26	$	5,365,000.00	$	
11/01/26	$	5,365,000.00	$	155	
05/01/27	$	5,210,000.00	$	
11/01/27	$	5,050,000.00	$	160	
05/01/28	$	5,050,000.00	$	
11/01/28	$	5,050,000.00	$	170	
05/01/29	$	4,880,000.00	$	
11/01/29	$	4,880,000.00	$	175	
05/01/30	$	4,705,000.00	$	
11/01/30	$	4,705,000.00	$	185	
05/01/31	$	4,520,000.00	$	
11/01/31	$	4,520,000.00	$	195	
05/01/32	$	4,325,000.00	$	
11/01/32	$	4,325,000.00	$	205	
05/01/33	$	4,120,000.00	$	
11/01/33	$	4,120,000.00	$	215	
05/01/34	$	3,905,000.00	$	
11/01/34	$	3,905,000.00	$	225	
05/01/35	$	3,680,000.00	$	
11/01/35	$	3,680,000.00	$	235	
05/01/36	$	3,445,000.00	$	
11/01/36	$	3,445,000.00	$	245	
05/01/37	$	3,200,000.00	$	
11/01/37	$	3,200,000.00	$	255	
05/01/38	$	2,945,000.00	$	
11/01/38	$	2,945,000.00	$	265	
05/01/39	$	2,680,000.00	$	
11/01/39	$	2,680,000.00	$	280	
05/01/40	$	2,400,000.00	$	
11/01/40	$	2,400,000.00	$	295	
05/01/41	$	2,105,000.00	$	
11/01/41	$	2,105,000.00	$	310	
05/01/42	$	1,795,000.00	$	
11/01/42	$	1,795,000.00	$	325	
05/01/43	$	1,470,000.00	$	
11/01/43	$	1,470,000.00	$	340	
05/01/44	$	1,130,000.00	$	
11/01/44	$	1,130,000.00	$	360	
05/01/45	$	770,000.00	$	
11/01/45	$	770,000.00	$	375	
05/01/46	$	395,000.00	$	
11/01/46	$	395,000.00	$	395	
			$	5,930	

$	141,768.75	$	410,856.25	
$	139,087.50		
$	139,087.50	$	415,287.50	
$	136,200.00		
$	136,200.00	$	414,409.38	
$	133,209.38		
$	133,209.38	$	413,325.00	
$	130,115.63		
$	130,115.63	$	412,034.38	
$	126,918.75		
$	126,918.75	$	410,537.50	
$	123,618.75		
$	123,618.75	$	413,200.00	
$	119,581.25		
$	119,581.25	$	410,006.25	
$	115,425.00		
$	115,425.00	$	411,456.25	
$	111,031.25		
$	111,031.25	$	412,431.25	
$	106,400.00		
$	106,400.00	$	412,931.25	
$	101,531.25		
$	101,531.25	$	412,956.25	
$	96,425.00		
$	96,425.00	$	412,506.25	
$	91,081.25		
$	91,081.25	$	411,581.25	
$	85,500.00		
$	85,500.00	$	410,181.25	
$	79,681.25		
$	79,681.25	$	408,306.25	
$	73,625.00		
$	73,625.00	$	405,625.00	
$	67,000.00		
$	67,000.00	$	407,000.00	
$	60,000.00		
$	60,000.00	$	407,625.00	
$	52,625.00		
$	52,625.00	$	407,500.00	
$	44,875.00		
$	44,875.00	$	406,625.00	
$	36,750.00		
$	36,750.00	$	405,000.00	
$	28,250.00		
$	28,250.00	$	407,500.00	
$	19,250.00		
$	19,250.00	$	404,125.00	
$	9,875.00		
$	9,875.00	$	404,875.00	

,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00
-
,000.00

,000.00	$

4,317,881.25	$

10,247,881.25