Lake Frances Community Development District

Final Budget For Fiscal Year 2026/2027
October 1, 2026 - September 30, 2027

CONTENTS

I

FINAL BUDGET

II

DETAILED FINAL BUDGET

III

DETAILED FINAL DEBT SERVICE FUND BUDGET

IV

ASSESSMENT COMPARISON

FINAL BUDGET
LAKE FRANCES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

I

REVENUES

FISCAL YEAR 2026/2027 BUDGET

Administrative Assessments

61,153

Maintenance Assessments

17,096

Debt Assessments

146,840

Other Revenues

0

Interest Income

1,320

TOTAL REVENUES

$	226,409

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

37,524

Legal

9,600

Assessment Roll

6,000

Audit Fees

3,200

Insurance

7,900

Legal Advertisements

2,500

Miscellaneous

950

Meeting Room Rental

900

Postage

250

Office Supplies

325

Dues & Subscriptions

175

Trustee Fee

4,000

Continuing Disclosure Fee

350

Website Management

2,000

Administrative Contingency

1,200

TOTAL ADMINISTRATIVE EXPENDITURES

$	80,104

TOTAL EXPENDITURES

$	96,174

REVENUES LESS EXPENDITURES

$	130,235

Bond Payments

(138,030)

BALANCE

$	(7,795)

County Appraiser & Tax Collector Fee

(4,501)

Discounts For Early Payments

(9,004)

EXCESS/ (SHORTFALL)

$	(21,300)

Carryover From Prior Year

21,300

NET EXCESS/ (SHORTFALL)

$	-

DETAILED FINAL BUDGET
LAKE FRANCES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

II

REVENUES

FISCAL YEAR 2024/2025
ACTUAL

FISCAL YEAR 2025/2026
BUDGET

FISCAL YEAR 2026/2027
BUDGET

COMMENTS

Administrative Assessments

61,522

61,186

61,153

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

7,896

1,200

1,320

Interest Projected At $110 Per Month

TOTAL REVENUES

$	233,356

$	226,322

$	226,409

EXPENDITURES

MAINTENANCE EXPENDITURES

Aquatic Maintenance (Lake Tract)

2,465

3,600

3,600

No Change From 2025/2026 Budget

Lawn & Landscape Maintenance

7,200

8,400

8,400

No Change From 2025/2026 Budget

Engineering/Annual Report/Inspections

1,091

1,750

1,750

No Change From 2025/2026 Budget

Field Operation Management

1,620

1,620

1,620

No Change From 2025/2026 Budget

Maintenance Contingency

9,300

700

700

No Change From 2025/2026 Budget

TOTAL MAINTENANCE EXPENDITURES

$	21,676

$	16,070

$	16,070

ADMINISTRATIVE EXPENDITURES

Supervisor Fees

900

3,000

3,000

Supervisor Fees

Payroll Taxes (Employer)

69

230

230

Supervisor Fees * 7.65%

Management

35,520

36,540

37,524

CPI Adjustment

Legal

9,413

9,600

9,600

No Change From 2025/2026 Budget

Assessment Roll

6,000

6,000

6,000

As Per Contract

Audit Fees

3,200

3,300

3,200

Accepted Amount For 2025/2026 Audit

Insurance

6,858

7,400

7,900

Fiscal Year 2025/2026 Expenditure Was $7,269

Legal Advertisements

2,691

2,200

2,500

Costs Have Increased Due To Closing Of The Miami Business Review

Miscellaneous

1,388

900

950

$50 Increase From 2025/2026 Budget

Meeting Room Rental

857

900

900

No Change From 2025/2026 Budget

Postage

135

250

250

No Change From 2025/2026 Budget

Office Supplies

188

350

325

$25 Decrease From 2025/2026 Budget

Dues & Subscriptions

175

175

175

No Change From 2025/2026 Budget

Trustee Fee

4,000

4,000

4,000

No Change From 2025/2026 Budget

Continuing Disclosure Fee

350

350

350

No Change From 2025/2026 Budget

Website Management

2,000

2,000

2,000

No Change From 2025/2026 Budget

Administrative Contingency

0

1,200

1,200

No Change From 2025/2026 Budget

TOTAL ADMINISTRATIVE EXPENDITURES

$	73,744

$	78,395

$	80,104

TOTAL EXPENDITURES

$	95,420

$	94,465

$	96,174

REVENUES LESS EXPENDITURES

$	137,936

$	131,857

$	130,235

Bond Payments

(139,809)

(138,030)

(138,030)

2027 Principal & Interest Payments

BALANCE

$	(1,873)

$	(6,173)

$	(7,795)

County Appraiser & Tax Collector Fee

(2,166)

(4,502)

(4,501)

Two Percent Of Total Assessment Roll

Discounts For Early Payments

(8,617)

(9,005)

(9,004)

Four Percent Of Total Assessment Roll

EXCESS/ (SHORTFALL)

$	(12,656)

$	(19,680)

$	(21,300)

Carryover From Prior Year

0

19,680

21,300

Carryover From Prior Year

NET EXCESS/ (SHORTFALL)

$	(12,656)

$	-

$	-

DETAILED FINAL DEBT SERVICE FUND BUDGET
LAKE FRANCES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

Series 2018 Bond Refunding Information

Original Par Amount = Interest Rate =
Issue Date =
Maturity Date =

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

Annual Principal Payments Due =
Annual Interest Payments Due =

May 1st
May 1st & November 1st

Par Amount As Of 1/1/26 =

$1,268,000

III

REVENUES

FISCAL YEAR 2024/2025 ACTUAL

FISCAL YEAR 2025/2026 ANNUAL BUDGET

FISCAL YEAR 2026/2027 ANNUAL BUDGET

COMMENTS

Interest Income

6,598

1,000

1,200

Projected Interest For FY 2026/2027

NAV Tax Collection

139,809

138,030

138,030

Maximum Debt Service Collection

Total Revenues

$	146,407

$	139,030

$	139,230

EXPENDITURES

Principal Payments

84,000

87,000

91,000

Principal Payment Due In 2027

Interest Payments

52,370

48,545

45,420

Interest Payments Due In 2027

Bond Redemption

0

3,485

2,810

Estimated Excess Debt Collections

Total Expenditures

$	136,370

$	139,030

$	139,230

Excess/ (Shortfall)

$	10,037

$	-

$	-

Lake Frances Community Development District Assessment Comparison

Fiscal Year 2022/2023
Assessment
Before Discount*

Fiscal Year 2023/2024
Assessment
Before Discount*

Fiscal Year 2024/2025
Assessment
Before Discount*

Fiscal Year 2025/2026
Assessment
Before Discount*

Fiscal Year 2026/2027
Projected Assessment
Before Discount*

Administrative
Maintenance Debt

$
$

428.38
119.56

$
$

428.27
119.56

$
$

428.00
119.56

$
$

427.88
119.56

$
$

427.65
119.56

$	1,026.86

 $	1,026.86

 $	1,026.86

$	1,026.86

 $	1,026.86

Total

$

1,574.80

$

1,574.69

$

1,574.42

$

1,574.30

$

1,574.07

* Assessments Include the Following :	 4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee

 Community Information:	

Total Units

143

IV