Osceola Chain of Lakes
Community Development District

Proposed Budget
FY2026

6M3

Table of Contents

1	General Fund	

2-5	

General Fund Narrative	

6	

Series 2018 Debt Service Fund	

7	

Series 2018 Amortization Schedule	

8	

Series 2020 Debt Service Fund	

9	

Series 2020 Amortization Schedule	

Type	
Units	
ERU/Unit	
ERU's	Per Unit - Gross	Per Unit - Net	Total Gross Assessments	Total Net Assessments	
Platted - 50'	336	1	336	$527.85	$496.18	$177,356.71	$166,715.31	
Platted - 60'	205	1.2	246	$633.42	$595.41	$129,850.45	$122,059.42	
Total	541		582			$307,207.16	$288,774.73	

Osceola Chain of Lakes
Community Development District Proposed Budget
General Fund

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2025	3/31/25	6 Months	9/30/25	FY2026	

Revenues					
Assessments	$	288,775  $	283,329	$	5,446	$	288,775	$	288,775	
Interest Income	$	-	$	223	$	112	$	335	$	-	
Total Revenues	$	288,775  $	283,552	$	5,558	$	289,110	$	288,775	

Expenditures					
General & Administrative					
Supervisor Fees	$	1,200  $	-	$	600	$	600	$	4,000	
FICA Expense	$	92  $	-	$	46	$	46	$	306	
Engineering	$	8,000  $	-	$	300	$	300	$	8,000	
Attorney	$	20,000  $	1,380	$	6,000	$	7,380	$	20,000	
Annual Audit	$	6,000  $	3,800	$	-	$	3,800	$	3,900	
Assessment Administration	$	5,565  $	5,565	$	-	$	5,565	$	5,732	
Dissemination	$	3,675  $	1,938	$	1,838	$	3,775	$	3,785	
Trustee Fees	$	8,500  $	5,899	$	2,601	$	8,500	$	9,350	
Arbitrage Report	$	900  $	900	$	-	$	900	$	900	
Management Fees	$	42,500  $	21,250	$	21,250	$	42,500	$	43,775	
Information Technology	$	1,182  $	591	$	591	$	1,182	$	1,217	
Website Maintenance	$	788  $	394	$	394	$	788	$	812	
Telephone	$	200  $	-	$	100	$	100	$	200	
Postage & Delivery	$	500  $	12	$	250	$	262	$	500	
Printing & Binding	$	750  $	4	$	375	$	379	$	750	
Insurance	$	6,426  $	6,251	$	-	$	6,251	$	8,382	
Legal Advertising	$	3,000  $	714	$	2,250	$	2,964	$	3,000	
Contingency	$	3,000  $	258	$	290	$	548	$	1,000	
Property Appraiser	$	300  $	197	$	-	$	197	$	300	
Office Supplies	$	150  $	0	$	75	$	75	$	150	
Travel Per Diem	$	100  $	-	$	-	$	-	$	-	
Dues, Licenses & Subscriptions	$	175  $	175	$	-	$	175	$	175	
Total General & Administrative:	$	113,003  $	49,329	$	36,959	$	86,288	$	116,234	

Operations & Maintenance					
Field Management	$	10,000  $	5,000	$	5,000	$	10,000	$	10,300	
Property Insurance	$	8,950  $	9,471	$	-	$	9,471	$	10,229	
Pond Bank Mowing	$	53,027  $	25,776	$	26,157	$	51,933	$	55,149	
Pond Maintenance	$	14,795  $	5,982	$	5,982	$	11,964	$	14,795	
Midge Management	$	49,000  $	22,273	$	26,727	$	49,000	$	50,960	
Additional Littoral Planting	$	5,000  $	-	$	5,000	$	5,000	$	5,000	
General Repairs & Maintenance	$	35,000  $	-	$	17,500	$	17,500	$	26,108	
Contingency	$	-	$	49	$	-	$	49	$	-	
Total Operations & Maintenance:	$	175,772  $	68,551	$	86,366	$	154,917	$	172,540	
					
Total Expenditures	$	288,775  $	117,880	$	123,325	$	241,205	$	288,775	
					
Excess Revenues/(Expenditures)	$	-	$	165,672	$	(117,767)	$	47,905	$	-	

Assessments - O&M					

Product	FY 2026 Gross
Per Unit	FY 2025 Gross
Per Unit	
Increase/(Decrease)	
Platted - 50'	$527.85	$527.85	$0.00	
Platted - 60'	$633.42	$633.42	$0.00	

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.

EXPENDITURES:

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 Board of Supervisors checks.

Engineering

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

Attorney

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. The district is contracted with Kutak Rock LLP.

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis. The district is contracted with Grau and Associates.

Assessment Administration

The District has contracted with Governmental Management Services-Central Florida, LLC to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

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. This service is handled by Governmental Management Services – Central Florida, LLC.

Trustee Fees

The District will incur trustee related costs with the Series 2018 and Series 2020 bonds with US Bank.

Arbitrage Report

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on its Series 2018 and 2020 bonds. The district is contracted with AMTEC.

Management Fees

The District has contracted with Governmental Management Services – Central Florida, LLC to provide Management, Accounting and Recording Secretary Services for the District. The services include, but not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reporting, annual audits, etc.

Information Technology

Represents various cost of information technology with Governmental Management Services- Central Florida, LLC for the District such as video conferencing, cloud storage and servers, positive pay implementation and programming for fraud protection, accounting software, tablets for meetings, Adobe, Microsoft Office, etc.

Website Maintenance

Represents the costs with Governmental Management Services – Central Florida LLC 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 overnight deliveries and correspondence, etc.

Printing & Binding

Printing and binding for board meetings, printing of computerized checks, stationary, envelopes etc.

Insurance

The District’s general liability, public official’s liability insurance and property insurance coverages with Florida Insurance Alliance.

Legal Advertising

The District is required to advertise various notices for Board meetings, public hearings, etc. in a newspaper of general circulation.

Contingency

Bank charges and any other miscellaneous administrative expenditures incurred during the year.

Property Appraiser

Represents the fees to be paid to the Osceola County Property Appraiser for annual assessment roll administration.

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. This is the only expenditure under this category for the District.

Operations & Maintenance:

Field Management

Represents onsite field management of contracts for the District 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. This service is contracted with Governmental Management Services-Central Florida, LLC.

Property Insurance

The District’s property insurance coverages with Florida Insurance Alliance.

Pond Bank Mowing

Scheduled maintenance will consist of mowing pond banks monthly pursuant to a contract with Down to Earth along with a contingency for unscheduled maintenance or fuel surcharges.

Description	Monthly Amount	Annual Amount	
Pond Bank Mowing	$4,596	$55,149	
Contingency			$0		
		$55,149	

Pond Maintenance

Represents costs with The Lake Doctors for maintenance to all lakes the District must maintain within District boundaries along with trash collection 4 times in the fiscal year.

Description	Monthly Amount	Annual Amount	
Littoral Zone Maintenance	$997	$11,964	
Trash Pick Up			$2,831		
		$14,795	

Midge Management

Represents the cost of treating larval and adult midges in the stormwater pond and in the air on District property.

Description	Monthly
Amount	Annual Amount	
Midge Management	$4,247	$50,960	
	$50,960	

Additional Littoral Planting

Represents costs associated with additional planting in the District’s lakes littoral zone

General Repairs & Maintenance

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

Community Development District Proposed Budget
Debt Service Fund Series 2018

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2025	3/31/25	6 Months	9/30/25	FY2026	

Revenues						
Assessments	$	147,204	$	145,091	$	2,113	$	147,204	$	147,881	
Interest	$	-	$	3,539	$	1,770	$	5,309	$	-	
Carry Forward Surplus	$	97,141	$	99,094	$	-	$	99,094	$	103,463	
Total Revenues		$	244,345	$	247,725	$	3,882	$	251,607	$	251,344	

Expenditures							
Interest - 11/1		$	51,572	$	51,572	$	-	$	51,572	$	50,419	
Principal - 5/1		$	45,000	$	-	$	45,000	$	45,000	$	45,000	
Interest - 5/1		$	51,572	$	-	$	51,572	$	51,572	$	50,419	
Total Expenditures		$	148,144	$	51,572	$	96,572	$	148,144	$	145,838	
							
Excess Revenues/(Expenditures)		$	96,201	$	196,153	$	(92,689)	$	103,463	$	105,507	
					
Interest - 11/1/26	
 $	49,266 	
					Total	 $	49,266 	
Assessments - Debt Service Series 2018							

Type	Platted Units	Gross Per Unit Assessment	Net Per Unit Assessment	Total Gross Platted Assessments	Total Net Platted Assessments			
50' - Interior	67	$720.00	$676.80	$48,240.00	$45,345.60			
50' - Lakeside	39	$1,080.00	$1,015.20	$42,120.00	$39,592.80			
60' - Lakeside	62	$1,080.00	$1,015.20	$66,960.00	$62,942.40			
Total	168			$157,320.00	$147,880.80			

Series 2018 Capital Improvement Bonds Amortization Schedule

Date		Balance		Principal		Interest		Total	
									
11/01/25	$	1,940,000.00	$	-	$	50,418.75	$	146,990.63	
05/01/26	$	1,940,000.00	$	45,000.00	$	50,418.75	$	-	
11/01/26	$	1,895,000.00	$	-	$	49,265.63	$	144,684.38	
05/01/27	$	1,895,000.00	$	45,000.00	$	49,265.63	$	-	
11/01/27	$	1,850,000.00	$	-	$	48,112.50	$	142,378.13	
05/01/28	$	1,850,000.00	$	50,000.00	$	48,112.50	$	-	
11/01/28	$	1,800,000.00	$	-	$	46,831.25	$	144,943.75	
05/01/29	$	1,800,000.00	$	50,000.00	$	46,831.25	$	-	
11/01/29	$	1,750,000.00	$	-	$	45,550.00	$	142,381.25	
05/01/30	$	1,750,000.00	$	55,000.00	$	45,550.00	$	-	
11/01/30	$	1,695,000.00	$	-	$	44,140.63	$	144,690.63	
05/01/31	$	1,695,000.00	$	60,000.00	$	44,140.63	$	-	
11/01/31	$	1,635,000.00	$	-	$	42,603.13	$	146,743.75	
05/01/32	$	1,635,000.00	$	60,000.00	$	42,603.13	$	-	
11/01/32	$	1,575,000.00	$	-	$	41,065.63	$	143,668.75	
05/01/33	$	1,575,000.00	$	65,000.00	$	41,065.63	$	-	
11/01/33	$	1,510,000.00	$	-	$	39,400.00	$	145,465.63	
05/01/34	$	1,510,000.00	$	70,000.00	$	39,400.00	$	-	
11/01/34	$	1,440,000.00	$	-	$	37,606.25	$	147,006.25	
05/01/35	$	1,440,000.00	$	70,000.00	$	37,606.25	$	-	
11/01/35	$	1,370,000.00	$	-	$	35,812.50	$	143,418.75	
05/01/36	$	1,370,000.00	$	75,000.00	$	35,812.50	$	-	
11/01/36	$	1,295,000.00	$	-	$	33,890.63	$	144,703.13	
05/01/37	$	1,295,000.00	$	80,000.00	$	33,890.63	$	-	
11/01/37	$	1,215,000.00	$	-	$	31,840.63	$	145,731.25	
05/01/38	$	1,215,000.00	$	85,000.00	$	31,840.63	$	-	
11/01/38	$	1,130,000.00	$	-	$	29,662.50	$	146,503.13	
05/01/39	$	1,130,000.00	$	90,000.00	$	29,662.50	$	-	
11/01/39	$	1,040,000.00	$	-	$	27,300.00	$	146,962.50	
05/01/40	$	1,040,000.00	$	95,000.00	$	27,300.00	$	-	
11/01/40	$	945,000.00	$	-	$	24,806.25	$	147,106.25	
05/01/41	$	945,000.00	$	95,000.00	$	24,806.25	$	-	
11/01/41	$	850,000.00	$	-	$	22,312.50	$	142,118.75	
05/01/42	$	850,000.00	$	105,000.00	$	22,312.50	$	-	
11/01/42	$	745,000.00	$	-	$	19,556.25	$	146,868.75	
05/01/43	$	745,000.00	$	110,000.00	$	19,556.25	$	-	
11/01/43	$	635,000.00	$	-	$	16,668.75	$	146,225.00	
05/01/44	$	635,000.00	$	115,000.00	$	16,668.75	$	-	
11/01/44	$	520,000.00	$	-	$	13,650.00	$	145,318.75	
05/01/45	$	520,000.00	$	120,000.00	$	13,650.00	$	-	
11/01/45	$	400,000.00	$	-	$	10,500.00	$	144,150.00	
05/01/46	$	400,000.00	$	125,000.00	$	10,500.00	$	-	
11/01/46	$	275,000.00	$	-	$	7,218.75	$	142,718.75	
05/01/47	$	275,000.00	$	135,000.00	$	7,218.75	$	-	
11/01/47	$	140,000.00	$	-	$	3,675.00	$	145,893.75	
05/01/48	$	140,000.00	$	140,000.00	$	3,675.00	$	143,675.00	
			$	2,025,000.00	$	1,652,112.50	$	3,677,112.50	

Proposed Budget
Debt Service Fund Series 2020

Adopted Budget
Description	FY2025	Actuals Thru
3/31/25	Projected Next
6 Months	Projected Thru
9/30/25	Proposed Budget
FY2026	

Revenues						
Assessments	$	342,994	$	335,777	$	7,217	$	342,994	$	343,326	
Interest	$	-	$	7,057	$	3,529	$	10,586	$	-	
Carry Forward Surplus	$	176,142	$	179,629	$	-	$	179,629	$	192,246	
Total Revenues	$	519,135	$	522,463	$	10,745	$	533,208	$	535,572	

Expenditures						
Interest - 11/1	$	107,981	$	107,981	$	-	$	107,981	$	105,950	
Special Call 11/1	$	-	$	20,000	$	-	$	-	$	-	
Principal - 5/1		$	125,000	$	-	$	125,000	$	125,000	$	130,000	
Interest - 5/1		$	107,981	$	-	$	107,981	$	107,981	$	105,950	
Total Expenditures		$	340,963	$	127,981	$	232,981	$	340,963	$	341,900	
							
Excess Revenues/(Expenditures)		$	178,173	$	394,482	$	(222,236)	$	192,246	$	193,672	
					
Interest - 11/1/26	
 $	103,675 	
					Total	 $	103,675 	
Assessments - Debt Service Series 2020							

Platted	Gross Per Unit	Net Per Unit	Total Gross Platted	Total Net Platted			
Type	Units	Assessments	Assessments	Assessments	Assessments			
Level 1 Units
50' - Interior	57	
$720.00	
$676.80	
$41,040.00	
$38,577.60			
50' - Lakeside	23	$720.00	$676.80	$16,560.00	$15,566.40			
60' - Lakeside	51
Level 2 Units
50' - Interior	82	$1,080.00

$809.59	$1,015.20

$761.01	$55,080.00

$66,386.38	$51,775.20

$62,403.20			
50' - Lakeside	68	$1,163.59	$1,093.77	$79,124.12	$74,376.67			
60' - Lakeside	92	$1,163.59	$1,093.77	$107,050.28	$100,627.26			
Total	373			$365,240.78	$343,326.33			

Series 2020 Capital Improvement Bonds Amortization Schedule

Date		Balance		Principal		Interest		Total	
									
11/01/25	$	5,385,000.00	$	-	$	105,950.00	$	338,931.25	
05/01/26	$	5,385,000.00	$	130,000.00	$	105,950.00	$	-	
11/01/26	$	5,255,000.00	$	-	$	103,675.00	$	339,625.00	
05/01/27	$	5,255,000.00	$	135,000.00	$	103,675.00	$	-	
11/01/27	$	5,120,000.00	$	-	$	101,312.50	$	339,987.50	
05/01/28	$	5,120,000.00	$	140,000.00	$	101,312.50	$	-	
11/01/28	$	4,980,000.00	$	-	$	98,862.50	$	340,175.00	
05/01/29	$	4,980,000.00	$	145,000.00	$	98,862.50	$	-	
11/01/29	$	4,835,000.00	$	-	$	96,325.00	$	340,187.50	
05/01/30	$	4,835,000.00	$	150,000.00	$	96,325.00	$	-	
11/01/30	$	4,685,000.00	$	-	$	93,700.00	$	340,025.00	
05/01/31	$	4,685,000.00	$	155,000.00	$	93,700.00	$	-	
11/01/31	$	4,530,000.00	$	-	$	90,600.00	$	339,300.00	
05/01/32	$	4,530,000.00	$	160,000.00	$	90,600.00	$	-	
11/01/32	$	4,370,000.00	$	-	$	87,400.00	$	338,000.00	
05/01/33	$	4,370,000.00	$	170,000.00	$	87,400.00	$	-	
11/01/33	$	4,200,000.00	$	-	$	84,000.00	$	341,400.00	
05/01/34	$	4,200,000.00	$	175,000.00	$	84,000.00	$	-	
11/01/34	$	4,025,000.00	$	-	$	80,500.00	$	339,500.00	
05/01/35	$	4,025,000.00	$	185,000.00	$	80,500.00	$	-	
11/01/35	$	3,840,000.00	$	-	$	76,800.00	$	342,300.00	
05/01/36	$	3,840,000.00	$	190,000.00	$	76,800.00	$	-	
11/01/36	$	3,650,000.00	$	-	$	73,000.00	$	339,800.00	
05/01/37	$	3,650,000.00	$	200,000.00	$	73,000.00	$	-	
11/01/37	$	3,450,000.00	$	-	$	69,000.00	$	342,000.00	
05/01/38	$	3,450,000.00	$	205,000.00	$	69,000.00	$	-	
11/01/38	$	3,245,000.00	$	-	$	64,900.00	$	338,900.00	
05/01/39	$	3,245,000.00	$	215,000.00	$	64,900.00	$	-	
11/01/39	$	3,030,000.00	$	-	$	60,600.00	$	340,500.00	
05/01/40	$	3,030,000.00	$	225,000.00	$	60,600.00	$	-	
11/01/40	$	2,805,000.00	$	-	$	56,100.00	$	341,700.00	
05/01/41	$	2,805,000.00	$	235,000.00	$	56,100.00	$	-	
11/01/41	$	2,570,000.00	$	-	$	51,400.00	$	342,500.00	
05/01/42	$	2,570,000.00	$	240,000.00	$	51,400.00	$	-	
11/01/42	$	2,330,000.00	$	-	$	46,600.00	$	338,000.00	
05/01/43	$	2,330,000.00	$	250,000.00	$	46,600.00	$	-	
11/01/43	$	2,080,000.00	$	-	$	41,600.00	$	338,200.00	
05/01/44	$	2,080,000.00	$	260,000.00	$	41,600.00	$	-	
11/01/44	$	1,820,000.00	$	-	$	36,400.00	$	338,000.00	
05/01/45	$	1,820,000.00	$	275,000.00	$	36,400.00	$	-	
11/01/45	$	1,545,000.00	$	-	$	30,900.00	$	342,300.00	
05/01/46	$	1,545,000.00	$	285,000.00	$	30,900.00	$	-	
11/01/46	$	1,260,000.00	$	-	$	25,200.00	$	341,100.00	
05/01/47	$	1,260,000.00	$	295,000.00	$	25,200.00	$	-	
11/01/47	$	965,000.00	$	-	$	19,300.00	$	339,500.00	
05/01/48	$	965,000.00	$	310,000.00	$	19,300.00	$	-	
11/01/48	$	655,000.00	$	-	$	13,100.00	$	342,400.00	
05/01/49	$	655,000.00	$	320,000.00	$	13,100.00	$	-	
11/01/49	$	335,000.00	$	-	$	6,700.00	$	339,800.00	
05/01/50	$	335,000.00	$	335,000.00	$	6,700.00	$	341,700.00	
			$	5,635,000.00	$	3,663,837.50	$	9,298,837.50