Osceola Chain of Lakes
Community Development District

Proposed Budget
FY 2027

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	FY2026	3/31/26	6 Months	9/30/26	FY2027	

Revenues					
Assessments	$	288,775  $	281,547	$	7,228	$	288,775	$	288,775	
Interest Income	$	-	$	6,886	$	2,295	$	9,182	$	-	
Total Revenues	$	288,775  $	288,433	$	9,523	$	297,956	$	288,775	

Expenditures					
General & Administrative					
Supervisor Fees	$	4,000  $	400	$	2,000	$	2,400	$	4,000	
FICA Expense	$	306  $	31	$	153	$	184	$	306	
Engineering	$	8,000  $	2,680	$	4,667	$	7,347	$	8,000	
Attorney	$	20,000  $	10,081	$	9,000	$	19,081	$	20,000	
Annual Audit	$	3,900  $	3,900	$	-	$	3,900	$	4,000	
Assessment Administration	$	5,732  $	5,732	$	-	$	5,732	$	6,019	
Dissemination	$	3,785  $	1,893	$	1,893	$	3,785	$	3,974	
Trustee Fees	$	9,350  $	6,169	$	3,181	$	9,350	$	9,350	
Arbitrage Report	$	900  $	900	$	-	$	900	$	900	
Management Fees	$	43,775  $	21,888	$	21,888	$	43,775	$	45,964	
Information Technology	$	1,217  $	609	$	609	$	1,217	$	1,278	
Website Maintenance	$	812  $	406	$	406	$	812	$	853	
Telephone	$	200  $	-	$	100	$	100	$	200	
Postage & Delivery	$	500  $	193	$	250	$	443	$	500	
Printing & Binding	$	750  $	16	$	375	$	391	$	750	
Insurance	$	8,382  $	6,626	$	-	$	6,626	$	7,288	
Legal Advertising	$	3,000  $	-	$	1,500	$	1,500	$	3,000	
Contingency	$	1,000  $	295	$	300	$	595	$	1,000	
Property Appraiser	$	300  $	490	$	-	$	490	$	500	
Office Supplies	$	150  $	1	$	75	$	76	$	150	
Dues, Licenses & Subscriptions	$	175  $	175	$	-	$	175	$	175	
Total General & Administrative:	$	116,234  $	62,482	$	46,396	$	108,877	$	118,206	

Operations & Maintenance					
Field Management	$	10,300  $	5,150	$	5,150	$	10,300	$	10,815	
Property Insurance	$	10,229  $	9,148	$	-	$	9,148	$	8,691	
Pond Bank Mowing	$	55,149  $	27,203	$	27,203	$	54,407	$	56,583	
Pond Maintenance	$	14,795  $	10,450	$	6,000	$	16,450	$	14,795	
Midge Management	$	50,960  $	27,529	$	27,529	$	55,058	$	51,984	
Additional Littoral Planting	$	5,000  $	-	$	2,500	$	2,500	$	10,000	
General Repairs & Maintenance	$	26,108  $	-	$	13,054	$	13,054	$	17,701	
Total Operations & Maintenance:	$	172,540  $	79,480	$	81,436	$	160,917	$	170,569	
					
Total Expenditures	$	288,775  $	141,962	$	127,832	$	269,794	$	288,775	
					
Excess Revenues/(Expenditures)	$	-	$	146,471	$	(118,309)	$	28,162	$	-	

Assessments - O&M					

Product	FY 2027 Gross
Per Unit	FY 2026 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 compensation.

Engineering

Represents general engineering services provided by Dewberry Engineers, Inc., including but not limited to attendance and preparation for Board meetings, review of invoices, and support for various projects as directed by the Board of Supervisors and the District Manager.

Attorney

Represents general legal services provided by Kutak Rock LLP, including but not limited to attendance and preparation for meetings, preparation and review of agreements and resolutions, and other legal matters as directed by the Board of Supervisors and the District Manager.

Annual Audit

Represents the cost associated with the District’s annual independent audit of its financial records, as required by Florida Statutes. These services are provided by Grau & Associates, an independent certified public accountant.

Assessment Administration

Represents costs associated with the levy and administration of non-ad valorem assessments on all assessable property within the District, provided by Governmental Management Services – Central Florida, LLC.

Dissemination

Represents costs associated with compliance with Securities and Exchange Commission (SEC) Rule 15c2-12(b)(5), including required reporting for the District’s bond issuances. These services are provided by Governmental Management Services – Central Florida, LLC.

Trustee Fees

Represents costs associated with trustee services for the District’s Series 2018 and Series 2020 Bonds, provided by U.S. Bank, including administration of bond funds, processing of payments, and compliance with trust indenture requirements.

Arbitrage Report

Represents the cost to annually calculate the District’s arbitrage rebate liability on its Series 2018 and Series 2020 Bonds. These services are provided by American Municipal Tax-Exempt Compliance (AMTEC), an independent certified public accountant.

Management Fees

Represents costs associated with management, accounting, and recording secretary services provided by Governmental Management Services – Central Florida, LLC, including but not limited to recording and transcription of Board meetings, administrative services, budget preparation, financial reporting, and coordination of the annual audit.

Information Technology

Represents costs associated with information technology services provided by Governmental Management Services – Central Florida, LLC, including video conferencing, cloud storage and servers, positive pay implementation and fraud protection programming, accounting software, tablets for meetings, Adobe, Microsoft Office, and other related systems supporting District operations.

Website Maintenance

Represents costs associated with monitoring and maintaining the District’s website in accordance with Chapter 189, Florida Statutes, including hosting, security, updates, document uploads, and backups, provided by Governmental Management Services – Central Florida, LLC.

Telephone

Represents costs associated with telephone and communication services for District operations.

Postage & Delivery

Represents postage and delivery costs for District correspondence and operations.

Printing & Binding

Represents costs for printing Board materials, checks, stationery, envelopes, and related supplies.

Insurance

Represents costs associated with the District’s general liability, public officials’ liability, and property insurance coverage provided by the Florida Insurance Alliance (FIA).

Legal Advertising

Represents costs associated with advertising required notices for Board meetings, public hearings, and other official District actions in a newspaper of general circulation.

Contingency

Represents bank charges and other miscellaneous administrative expenses incurred during the fiscal year.

Property Appraiser

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

Office Supplies

Represents costs for office supplies purchased during the fiscal year, including paper, minute books, file folders, labels, paper clips, and related administrative materials.

Dues, Licenses & Subscriptions

Represents the annual special district fee of $175 paid to the Florida Department of Commerce, as required by Florida Statutes, to maintain the District’s active status and compliance with state reporting requirements.

Operations & Maintenance:

Field Management

Represents costs associated with onsite field management services provided by Governmental Management Services – Central Florida, LLC, including oversight of District contracts such as landscape and lake maintenance, site inspections, coordination with vendors, attendance at Board meetings, and response to property owner inquiries.

Property Insurance

Represents costs associated with the District’s property insurance coverage provided by the Florida Insurance Alliance (FIA).

Pond Bank Mowing

Represents costs associated with scheduled maintenance of pond banks, including monthly mowing services provided by Down to Earth Landscape and Irrigation.

Description	Monthly
Amount	Annual Amount	
Pond Bank Mowing	$4,715
Total:	$56,583	
	$56,583	

Pond Maintenance

Represents costs associated with lake maintenance services provided by The Lake Doctors, Inc., including routine inspection and treatment of aquatic systems, vegetation control, and ongoing management to preserve water quality and the overall condition of the District’s lakes.

Description	Monthly Amount	Annual Amount	
Littoral Zone Maintenance	$1,000	$12,000	
Contingency		$2,795	
Total:		$14,795	

Midge Management

Represents costs associated with the treatment of larval and adult midges within stormwater ponds and surrounding District property, provided by Clarke Environmental Mosquito Management.

Description	Monthly
Amount	Annual Amount	
Midge Management	$4,726
Total:	$51,984	
	$51,984	

Additional Littoral Planting

Represents estimated costs for additional planting within the District’s lake littoral zones.

General Repairs & Maintenance

Represents costs associated with general repairs and maintenance of the District’s common areas and assets to ensure proper operation and appearance.

Community Development District Proposed Budget
Debt Service Fund Series 2018

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2026	3/31/26	6 Months	9/30/26	FY2027	

Revenues							
Assessments		$	147,881	$	144,179	$	3,702	$	147,881	$	147,881	
Interest		$	-	$	3,504	$	1,168	$	4,673	$	-	
Carry Forward Surplus		$	107,197	$	107,975	$	-	$	107,975	$	114,691	
Total Revenues		$	255,078	$	255,658	$	4,870	$	260,528	$	262,572	

Expenditures							
Interest - 11/1		$	50,419	$	50,419	$	-	$	50,419	$	49,266	
Principal - 5/1		$	45,000	$	-	$	45,000	$	45,000	$	45,000	
Interest - 5/1		$	50,419	$	-	$	50,419	$	50,419	$	49,266	
Total Expenditures		$	145,838	$	50,419	$	95,419	$	145,838	$	143,531	
							
Excess Revenues/(Expenditures)		$	109,240	$	205,239	$	(90,549)	$	114,691	$	119,040	
					
Interest - 11/1/27	
 $	48,113 	
					Total	 $	48,113 	
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	
									
11/01/26	$	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	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2026	3/31/26	6 Months	9/30/26	FY2027	

Revenues							
Assessments		$	343,326	$	333,665	$	9,661	$	343,326	$	343,326	
Interest		$	-	$	7,040	$	2,347	$	9,387	$	-	
Carry Forward Surplus		$	520,770	$	180,378	$	-	$	180,378	$	191,591	
Total Revenues		$	864,097	$	521,084	$	12,008	$	533,091	$	534,918	

Expenditures							
Interest - 11/1		$	105,950	$	105,550	$	-	$	105,550	$	103,675	
Principal - 5/1		$	130,000	$	-	$	130,000	$	130,000	$	135,000	
Interest - 5/1		$	105,950	$	-	$	105,950	$	105,950	$	103,675	
Total Expenditures		$	341,900	$	105,550	$	235,950	$	341,500	$	342,350	
							
Excess Revenues/(Expenditures)		$	522,197	$	415,534	$	(223,942)	$	191,591	$	192,568	
					
Interest - 11/1/27	
 $	101,313 	
					Total	 $	101,313 	
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	
									
11/01/26	$	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