Lake Frances Community Development District

Final Budget For Fiscal Year 2025/2026
October 1, 2025 - September 30, 2026

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

FINAL BUDGET
LAKE FRANCES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	
FISCAL YEAR 2025/2026 BUDGET	
Administrative Assessments	61,186	
Maintenance Assessments	17,096	
Debt Assessments	146,840	
Other Revenues	0	
Interest Income	1,200	
TOTAL REVENUES	$	226,322	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
Aquatic Maintenance (Lake Tract)	3,600	
Lawn & Landscape Maintenance	8,400	
Engineering/Annual Report/Inspections	1,750	
Field Operation Management	1,620	
Maintenance Contingency	700	
TOTAL MAINTENANCE EXPENDITURES	$	16,070	
		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	3,000	
Payroll Taxes (Employer)	230	
Management	36,540	
Legal	9,600	
Assessment Roll	6,000	
Audit Fees	3,300	
Insurance	7,400	
Legal Advertisements	2,200	
Miscellaneous	900	
Meeting Room Rental	900	
Postage	250	
Office Supplies	350	
Dues & Subscriptions	175	
Trustee Fee	4,000	
Continuing Disclosure Fee	350	
Website Management	2,000	
Administrative Contingency	1,200	
TOTAL ADMINISTRATIVE EXPENDITURES	$	78,395	
		
TOTAL EXPENDITURES	$	94,465	
		
REVENUES LESS EXPENDITURES	$	131,857	
		
Bond Payments	(138,030)	
		
BALANCE	$	(6,173)	
		
County Appraiser & Tax Collector Fee	(4,502)	
Discounts For Early Payments	(9,005)	
		
EXCESS/ (SHORTFALL)	$	(19,680)	
		
Carryover From Prior Year	19,680	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED FINAL BUDGET
LAKE FRANCES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	
FISCAL YEAR 2023/2024
ACTUAL	
FISCAL YEAR 2024/2025
BUDGET	
FISCAL YEAR 2025/2026
BUDGET	

COMMENTS	
Administrative Assessments	61,495	61,202	61,186	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	17,097	17,096	17,096	Expenditures/.94	
Debt Assessments	146,841	146,840	146,840	Bond Payments/.94	
Other Revenues	0	0	0	Other Revenues	
Interest Income	10,397	720	1,200	Interest Projected At $100 Per Month	
TOTAL REVENUES	$	235,830	$	225,858	$	226,322		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
Aquatic Maintenance (Lake Tract)	2,490	3,600	3,600	No Change From 2024/2025 Budget	
Lawn & Landscape Maintenance	7,200	8,400	8,400	No Change From 2024/2025 Budget	
Engineering/Annual Report/Inspections	1,100	1,750	1,750	No Change From 2024/2025 Budget	
Field Operation Management	1,620	1,620	1,620	No Change From 2024/2025 Budget	
Maintenance Contingency	0	700	700	No Change From 2024/2025 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	12,410	$	16,070	$	16,070		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	1,400	3,000	3,000	Supervisor Fees	
Payroll Taxes (Employer)	107	230	230	Supervisor Fees * 7.65%	
Management	34,488	35,520	36,540	CPI Adjustment	
Legal	8,337	9,600	9,600	No Change From 2024/2025 Budget	
Assessment Roll	6,000	6,000	6,000	As Per Contract	
Audit Fees	3,200	3,200	3,300	$100 Increase From 2024/2025 Budget	
Insurance	6,594	7,200	7,400	Fiscal Year 2024/2025 Expenditure Was $6,858	
Legal Advertisements	1,994	1,800	2,200	Costs Have Increased Due To Closing Of The Miami Business Review	
Miscellaneous	909	875	900	$25 Increase From 2024/2025 Budget	
Meeting Room Rental	593	900	900	No Change From 2024/2025 Budget	
Postage	339	225	250	$25 Increase From 2024/2025 Budget	
Office Supplies	239	375	350	$25 Decrease From 2024/2025 Budget	
Dues & Subscriptions	175	175	175	No Change From 2024/2025 Budget	
Trustee Fee	4,000	4,000	4,000	No Change From 2024/2025 Budget	
Continuing Disclosure Fee	350	350	350	No Change From 2024/2025 Budget	
Website Management	2,000	2,000	2,000	No Change From 2024/2025 Budget	
Administrative Contingency	0	1,200	1,200	No Change From 2024/2025 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	70,725	$	76,650	$	78,395		
					
TOTAL EXPENDITURES	$	83,135	$	92,720	$	94,465		
					
REVENUES LESS EXPENDITURES	$	152,695	$	133,138	$	131,857		
					
Bond Payments	(139,737)	(138,030)	(138,030)	2026 Principal & Interest Payments	
					
BALANCE	$	12,958	$	(4,892)	$	(6,173)		
					
County Appraiser & Tax Collector Fee	(2,165)	(4,502)	(4,502)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(8,729)	(9,006)	(9,005)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	2,064	$	(18,400)	$	(19,680)		
					
Carryover From Prior Year	0	18,400	19,680	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	2,064	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND BUDGET
LAKE FRANCES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	FISCAL YEAR 2023/2024 ACTUAL	FISCAL YEAR 2024/2025 ANNUAL BUDGET	FISCAL YEAR 2025/2026 ANNUAL BUDGET	

COMMENTS	

Interest Income	
7,509	
500	
1,000	
Projected Interest For FY 2025/2026	

NAV Tax Collection	
139,737	
138,030	
138,030	
Maximum Debt Service Collection	

Total Revenues	
$	147,246	
$	138,530	
$	139,030		

EXPENDITURES					

Principal Payments	
81,000	
84,000	
87,000	
Principal Payment Due In 2026	

Interest Payments	
54,800	
51,110	
48,545	
Interest Payments Due In 2026	

Bond Redemption	
0	
3,420	
3,485	
Estimated Excess Debt Collections	

Total Expenditures	
$	135,800	
$	138,530	
$	139,030		

Excess/ (Shortfall)	
$	11,446	
$	-	
$	-		

Series 2018 Bond Refunding Information

Original Par Amount =	$1,812,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	3.00% - 4.00%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	February 2018			
Maturity Date =

Par Amount As Of 1/1/25 =	May 2037

$1,352,000			

Lake Frances Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2021/2022	2022/2023	2023/2024	2024/2025	2025/2026	
Assessment	Assessment	Assessment	Assessment	Projected Assessment	
Before Discount*	Before Discount*	Before Discount*	Before Discount*	Before Discount*	

Administrative	$	432.87	$	428.38	$	428.27	$	428.00	$	427.88	
Maintenance	$	115.10	$	119.56	$	119.56	$	119.56	$	119.56	
Debt	$	1,026.86	$	1,026.86	$	1,026.86	$	1,026.86	$	1,026.86	
Total	$	1,574.83	$	1,574.80	$	1,574.69	$	1,574.42	$	1,574.30	

* Assessments Include the Following :	 4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee
 Community Information:		 Total Units	143

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