Lake Frances Community Development District

Amended Final Budget For Fiscal Year 2024/2025
October 1, 2024 - September 30, 2025

CONTENTS

I

AMENDED FINAL OPERATING FUND BUDGET

II

AMENDED FINAL DEBT SERVICE FUND BUDGET

AMENDED FINAL BUDGET
LAKE FRANCES COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

Notes
Carryover From Prior Year Of $18,400 was used to reduce Fiscal Year 2024/2025 Assessments
$19,680 Of Fund Balance To Be Used To Reduce 2025/2026 Assessments.

I

9/15/2025 4:48 PM

$206,857

($11,934)

$194,923

FUND BALANCE AS OF 9/30/24

FY 2024/2025 ACTIVITY

FUND BALANCE AS OF 9/30/25

REVENUES

FISCAL YEAR 2024/2025 BUDGET 10/1/24 - 9/30/25

AMENDED FINAL BUDGET
10/1/24 - 9/30/25

YEAR TO DATE ACTUAL
10/1/24 - 8/31/25

Administrative Assessments

61,202

61,522

61,522

Maintenance Assessments

17,096

17,097

17,097

Debt Assessments

146,840

146,841

146,841

Other Revenues

0

0

0

Interest Income

720

7,500

7,330

TOTAL REVENUES

$	225,858

$	232,960

$	232,790

EXPENDITURES

ADMINISTRATIVE EXPENDITURES

Supervisor Fees

3,000

1,900

900

Payroll Taxes (Employer)

230

179

69

Management

35,520

35,520

32,560

Legal

9,600

10,000

7,890

Assessment Roll

6,000

6,000

0

Audit Fees

3,200

3,200

3,200

Insurance

7,200

6,858

6,858

Legal Advertisements

1,800

3,500

2,691

Miscellaneous

875

1,500

1,329

Meeting Room Rental

900

900

659

Postage

225

1,350

135

Office Supplies

375

250

187

Dues & Subscriptions

175

175

175

Trustee Fee

4,000

4,000

4,000

Continuing Disclosure Fee

350

350

0

Website Mangement

2,000

2,000

1,833

Administrative Contingency

1,200

1,200

0

TOTAL ADMINISTRATIVE EXPENDITURES

$	76,650

$	78,882

$	62,486

MAINTENANCE EXPENDITURES

Aquatic Maintenance (Lake Tract)

3,600

2,700

2,270

Lawn & Landscape Maintenance

8,400

7,200

6,600

Engineering/Annual Report/Inspections

1,750

1,400

1,091

Field Operation Management

1,620

1,620

1,485

Maintenance Contingency (Garbage Removal, etc.)

700

2,500

1,500

TOTAL MAINTENANCE EXPENDITURES

$	16,070

$	15,420

$	12,946

TOTAL EXPENDITURES

$	92,720

$	94,302

$	75,432

REVENUES LESS EXPENDITURES

$	133,138

$	138,658

$	157,358

Bond Payments

(138,030)

(139,809)

(139,809)

BALANCE

$	(4,892)

$	(1,151)

$	17,549

County Appraiser & Tax Collector Fee

(4,502)

(2,166)

(2,166)

Discounts For Early Payments

(9,006)

(8,617)

(8,617)

EXCESS/ (SHORTFALL)

$	(18,400)

$	(11,934)

$	6,766

Carryover From Prior Year

18,400

18,400

0

NET EXCESS/ (SHORTFALL)

$	-

$	6,466

$	6,766

AMENDED FINAL BUDGET
LAKE FRANCES COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

Notes
Reserve Fund Balance = $81,512*. Revenue Fund Balance = $76,153*. Revenue Fund Balance Used To Make 11/1/2025 Interest Payment Of $24,925.
* Approximate Amounts

Series 2018 Bond Refunding Information
Original Par Amount =

$1,812,000 3.00% - 4.00%
February 2018
May 2037

Annual Principal Payments Due: May 1st
Annual Interest Payments Due: May 1st & November 1st

Interest Rate = Issue Date = Maturity Date =

Par Amount As Of 9/30/25=

$1,268,000

II

9/15/2025 4:48 PM

$148,026

$9,639

$157,665

FUND BALANCE AS OF 9/30/24

FY 2024/2025 ACTIVITY

FUND BALANCE AS OF 9/30/25

REVENUES

FISCAL YEAR 2024/2025 BUDGET
10/1/24 - 9/30/25

AMENDED FINAL BUDGET
10/1/24 - 9/30/25

YEAR TO DATE ACTUAL
10/1/24 - 8/31/25

Interest Income

500

6,200

6,082

NAV Tax Collection

138,030

139,809

139,809

Total Revenues

$	138,530

$	146,009

$	145,891

EXPENDITURES

Principal Payments

84,000

84,000

84,000

Interest Payments

51,110

52,370

52,370

Bond Redemption

3,420

0

0

Total Expenditures

$	138,530

$	136,370

$	136,370

Excess/Shortfall

$	-

$	9,639

$	9,521