Adopted Budget	
Fiscal Year 2021	

Palm Glades	
Community Development District	

July 14, 2020	

Palm Glades		
Community Development District	

TABLE OF CONTENTS		

General Fund		
Budget	Page 1-2	
Narrative	Page 3-7	
Capital Reserve Fund		
Budget	Page 8	
Debt Service Fund		
Series 2016		
Budget	Page 9	
Amortization Schedule - 2016	Page 10	
Series 2017		
Budget	Page 11	
Amortization Schedule - 2017	Page 12	
Series 2018A1/A2 - Series 2018		
Budget	Page 13	
Amortization Schedule - 2018A1	Page 14	
Amortization Schedule - 2018A2	Page 15	
Series 2020		
Budget	Page 16	
Amortization Schedule - 2020	Page 17	

Palm Glades											
Community Development District									G	eneral Fund	
		FY2020		Actual		Projected		Total		FY2021	
		Adopted		thru		Next		Projected at		Adopted	
 Description			 	Budget			     5/31/2020			     4 Months			     9/30/2020			 	Budget		
Revenues											
Maintenance  Assessments		$1,768,726		$1,739,083		$29,643		$1,768,726		$1,813,151	
Maintenance Assessments - Off Roll		$0		$20,829		$0		$20,829		$0	
Interest Income		$5,000		$14,301		$2,000		$16,301		$5,000	
Clubhouse Revenue		$0		$15,808		$0		$15,808		$0	
Miscellaneous  Revenue		$0		$3,162		$0		$3,162		$0	
FEMA - Hurricane Irma		$0		$3,789		$0		$3,789		$0	
Carry Forward Surplus		$548,610		$1,054,566		$0		$1,054,566		$543,581	
Total Revenues		 	$2,322,336 		 	$2,851,538 		 	$31,643 		 	$2,883,181 		 	$2,361,732 	
Expenditures											
Administrative											
Supervisors Fee		$8,600		$4,800		$2,000		$6,800		$9,600	
FICA Expense		$658		$367		$153		$520		$734	
Engineering Fees		$10,000		$4,338		$5,663		$10,000		$10,000	
Arbitrage		$3,000		$1,200		$1,200		$2,400		$3,000	
Dissemination		$2,500		$1,667		$833		$2,500		$2,500	
Attorney Fees		$31,029		$28,648		$14,324		$42,971		$40,000	
Annual Audit		$5,600		$2,500		$2,100		$4,600		$5,900	
Trustee Fees		$17,000		$17,000		$0		$17,000		$17,000	
Assessment Roll		$2,000		$2,000		$0		$2,000		$2,000	
Management Fees		$43,353		$28,902		$14,451		$43,353		$43,353	
Website Administration		$3,000		$2,000		$1,000		$3,000		$3,000	
Telephone		$100		$0		$100		$100		$100	
Postage		$1,500		$533		$467		$1,000		$1,000	
Printing & Binding		$2,900		$1,845		$1,055		$2,900		$2,900	
Rentals & Leases		$2,400		$1,600		$800		$2,400		$2,400	
Insurance		$6,646		$6,193		$0		$6,193		$6,795	
Legal Advertising		$1,500		$2,026		$720		$2,746		$2,600	
Other Current Charges		$500		$763		$382		$1,145		$1,050	
Office Supplies		$260		$189		$71		$260		$260	
Dues, Licenses		$175		$175		$0		$175		$175	
Capital Outlay		$250		$0		$250		$250		$250	
Total Administrative		 	$142,971 		 	$106,745 		 	$45,569 		 	$152,314 		 	$154,617 	
Field											
Landscape  Maintenance		$191,000		$140,226		$50,774		$191,000		$191,000	
Porter Service		$79,560		$53,703		$25,857		$79,560		$79,560	
Mulch		$62,000		$61,030		$971		$62,000		$62,000	
Tree Trimming & Palm Pruning		$39,000		$32,424		$6,577		$39,000		$39,000	
Landscape Fertilization & Pest Control		$43,870		$24,600		$12,300		$36,900		$43,870	
Annuals		$15,000		$8,953		$6,047		$15,000		$15,000	
Plants Replacement		$39,000		$10,920		$28,080		$39,000		$39,000	
Irrigation System		$22,800		$13,300		$9,500		$22,800		$22,800	
Irrigation Repairs		$15,000		$7,317		$7,683		$15,000		$15,000	
Electricity		$28,000		$18,362		$9,638		$28,000		$28,000	
Refuse		$14,138		$10,604		$4,713		$15,316		$14,138	
Entrance Maintenance & Repairs		$20,000		$41,590		$0		$41,590		$20,000	
Janitorial Supplies		$4,200		$0		$2,100		$2,100		$4,200	
Lake Maintenance		$13,500		$6,133		$3,140		$9,273		$13,500	
Lake Debris Removal		$3,600		$0		$3,600		$3,600		$3,600	
Cleaning of Drainage System		$22,000		$0		$22,000		$22,000		$22,000	
Pressure Cleaning - Sidewalk		$18,600		$17,850		$0		$17,850		$18,600	
Field Management		$19,500		$13,000		$6,500		$19,500		$19,500	
Security Services		$450,000		$366,522		$183,261.01		$549,783		$527,000	
Special Security Services		$40,000		$9,375		$0		$9,375		$0	
Holiday Decorations		$15,000		$14,687		$0		$14,687		$15,000	
Contingency		$50,000		$30,755		$19,245		$50,000		$65,750	
Capital Reserves		$200,000		$0		$200,000		$200,000		$175,000	
Total Field		 	$1,405,768 		 	$881,350 		 	$601,985 		 	$1,483,334 		 	$1,433,518 	

Palm Glades									
Community Development District							G	eneral Fund	
	FY2020	Actual		Projected		Total		FY2021	
	Adopted	thru		Next		Projected at		Adopted	
 Description		 	Budget		     5/31/2020			     4 Months			     9/30/2020			 	Budget		

Clubhouse									
Access Control (cards, systems, cameras maint.)	$5,000	$1,379		$3,621		$5,000		$5,000	
Air Conditioning Maintenance	$5,000	$1,980		$3,020		$5,000		$5,000	
Basketball Court Repairs and Maintenance	$10,000	$3,920		$0		$3,920		$10,000	
Cable & Internet Service	$3,000	$5,012		$2,506		$7,519		$9,000	
Circuit Training Equipment Maintenance	$6,350	$3,176		$2,500		$5,676		$6,350	
Sauna Equipment Maintenance	$3,500	$0		$3,500		$3,500		$3,500	
Electricity	$75,000	$23,823		$11,912		$35,735		$45,000	
Fire Alarm & Building Alarm Monitoring	$2,400	$4,856		$420		$5,276		$3,300	
Gazebo and Trellis Repairs and Maintenance	$5,000	$10,675		$0		$10,675		$11,000	
Holiday Decorations	$5,000	$0		$5,000		$5,000		$5,000	
Insurance	$30,000	$31,617		$0		$31,617		$34,000	
Irrigation Repairs and Maintenance	$5,000	$0		$5,000		$5,000		$5,000	
Janitorial	$48,800	$31,630		$17,170		$48,800		$52,000	
Janitorial Supplies	$5,200	$0		$2,600		$2,600		$5,200	
Landscape  Maintenance	$30,540	$20,245		$10,295		$30,540		$30,540	
Landscape Replacement (Includes Mulching)	$26,176	$9,915		$16,261		$26,176		$26,176	
Management Fees	$175,000	$103,057		$71,943		$175,000		$226,875	
Office Equipment Maintenance	$5,000	$0		$5,000		$5,000		$5,000	
Office Supplies/Clubhouse Supplies	$11,000	$8,083		$2,917		$11,000		$11,000	
Pest Control-Interior & Exterior	$1,500	$4,985		$0		$4,985		$3,500	
Pool, Spa and Waterpark Maintenance	$45,000	$26,665		$11,980		$38,645		$45,000	
Pool, Spa and Waterpark Repairs	$32,500	$14,038		$18,462		$32,500		$32,500	
Printing & Postage	$2,400	$0		$2,400		$2,400		$2,400	
Property Taxes	$6,000	$0		$0		$0		$0	
Repairs/Maintenance & Supplies (General)	$50,000	$32,393		$17,608		$50,000		$50,000	
Residential Social Expenses	$12,000	$16,603		$0		$16,603		$20,000	
Security	$66,670	$43,816		$22,854		$66,670		$66,670	
Telephone	$4,500	$411		$205.52		$617		$700	
Trash  Collection/Recycling	$6,500	$0		$6,500		$6,500		$6,500	
Water & Sewer	$8,000	$2,951		$5,049		$8,000		$8,000	
Window Cleaning/Pressure Cleaning	$4,000	$0		$4,000		$4,000		$4,000	
Contingency	$77,561	$37,305		$12,695		$50,000		$35,386	
Total Clubhouse	 	$773,597 	 	$438,536 		 	$265,417 		 	$703,953 		 	$773,597 	
Total Expenditures	 	$2,322,336 	 	$1,426,630 		 	$912,971 		 	$2,339,601 		 	$2,361,732 	
Other Financing Sources/(Uses)									
Interfund Transfer In/(Out)	$0	($669,567)		$669,567		$0		$0	
Total Other Financing Sources/(Uses)	 	$0 	 	($669,567)		 	$669,567 		 	$0 		 	$0 	
Excess Revenues/Expenditures	$0	$755,341		($211,760)		$543,581		$0	
									
				FY 2019		FY 2020		FY 2021	
	Net Assessments			$1,768,726		$1,768,726		$1,813,151	
	Plus Collection Fees (5%)		$93,091		$93,091		$95,429	
	Gross Assessments			$1,861,817		$1,861,817		$1,908,580	
	No. of Units			1,712		1,712		1,755	
	Gross Per Unit Assessment		$611.86		$611.86		$611.86	
	Clubhouse Net			$773,597		$773,597		$773,597	
	Clubhouse Gross			$814,313		$814,313		$814,313	
	Clubhouse Gross Per Unit		$475.65		$475.65		$475.65	

Palm Glades
Community Development District	General Fund

REVENUES:

Maintenance Assessments
The District will levy a Non-Ad Valorem assessment on all the platted lots within the District to pay all of the operating expenses for the Fiscal Year in accordance with the adopted budget.

Interest Income
The District will have all excess funds invested with the State Board of Administration. The Amount is based upon the estimated average balance of funds available during the fiscal year.

EXPENDITURES:

Administrative:

Supervisor Fees
The Florida Statutes allows each board member to receive $200 per meeting not to exceed $4,800 in one year. The amount for the fiscal year is based upon all five supervisors attending the estimated 12 annual meetings.

FICA Expense
Represents the Employer's share of Social Security and Medicare taxes withheld from Board of Supervisors checks.

Engineering Fees
The District's engineer will be providing general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review invoices, etc.

Arbitrage
The District is required to have an annual arbitrage rebate calculation on the District’s Bonds. The District will contract with an independent auditing firm to perform the calculations.

Dissemination
The District is required by the Security and Exchange Commission to comply with Rule 15(c) (2)-12(b) (5), which relates to  additional reporting requirements for un-rated bond issues.

Attorney Fees
The District's legal counsel will be providing general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating & maintenance contracts, etc.

Annual Audit
The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm.

Trustee Fees
The District will issue bonds to be held with a Trustee at Wells Fargo Bank. The amount of the trustee fees is based on the agreement between Wells Fargo Bank and the District.

Assessment Roll
The District receives Annual Assessment Administration of 1% of assessments not to exceed $2,000. Annually by GMS, SF, LLC.

Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement  with  Governmental Management Services – South Florida, LLC. These services are further outlined in Exhibit "A" of the Management Agreement.

Website Administration
The District maintains a website for the homeowners which are kept to date by GMS, S. FL

Telephone
Telephone and fax machine.

Postage
Mailing of agenda packages, overnight deliveries, correspondence, etc.

Palm Glades
Community Development District	General Fund

Administrative: (continued)

Printing & Binding
Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc.

Rentals & Leases
The District will be charged $200 per month for office rent from Governmental Management Services – South Florida, LLC for the District's administrative office located in Ft. Lauderdale.

Insurance
The District's General Liability & Public Officials Liability Insurance policy is with Florida Insurance Alliance (FIA). Florida Insurance Alliance specializes in providing insurance coverage to governmental agencies. The amount is based upon similar Community Development Districts.

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

Other Current Charges
Bank charges and any other miscellaneous expenses that incurred during the year.

Office Supplies
Miscellaneous office supplies.

Dues, Licenses & Subscriptions
The District is required to pay an annual fee to the Department of Economic Opportunity for $175. This is the only expense under this category for the District.

Capital Outlay
Represents any minor capital expenditures the District may need to make during the Fiscal Year such as a file cabinet for District files.

Field:

Landscape Maintenance
The District has a contract with Brightview Landscaping Company for the maintenance of the Common Areas only. Includes grass cutting and edging. Irrigation monthly wet check, quarterly fertilization, bi-monthly pest control  and  weed  control.  Additional services as requested by the District not included. Janitorial Services have also been included as part of the contract with Brightview.

Porter Services
This represents various cleanups and maintenance throughout the District.

Mulch
The District will go into a contract for the mulching of Common Areas only.

Tree Trimming & Palm Pruning
The District will go into contract for the maintenance of tress which includes trimming of tress in the Common Areas only.

Landscape Fertilization & Pest Control
The District will go into contract for the fertilization of the palm trees on the Common Areas only.

Plants Replacement
The District will go into contract for the replacement of plants needed along the common areas.

Irrigation System
The District will go into contract for the maintenance of the irrigation system.

Irrigation Repairs
The District will go into contract for the repairs of the District’s irrigation system.

Electricity
FPL provides electricity for Common Area Lighting.

Palm Glades
Community Development District	General Fund

Field: (continued)

Refuse
The District has a contract with Waste Connections of Florida for monthly refuse service.

Entrance Maintenance & Repairs
The District will go into contract for the maintenance and repairs of the entrance.

Janitorial Services
The District has contracted with Brightview to conduct these services.  This contract includes one (1) full time janitor for 40 hours   per week. There is another Porter included in the current landscape agreement.

Janitorial Supplies
This includes any supplies needed for the maintenance of the common areas from Janitorial services.

Lake Maintenance
The District has a contract with Solitude Lake Management for the monthly cleaning of all lakes.

Lake Debris Removal
The District has a contract with Brightview Landscaping Company monthly debris removal from all lakes

Cleaning of Drainage System
The District will contract a company to clean the drainage system

Pressure Cleaning – Sidewalk
The District has contracted a company do pressure clean the sidewalks

Field Management
The District has a contract Governmental Management Services, South Florida, LLC for on-site management. The responsibilities include reviewing contracts and other maintenance related items.

Security Services
The District has a contract with Delta Five Security for security services

Special Security Services
The District will go into contract to have police officers patrol the areas.

Holiday Decorations
The District will hire a company to decorate the common grounds for the holidays.

Contingency
Any unbudgeted miscellaneous items.

Capital Reserves
Funds reserved for any unanticipated and unscheduled cost to the District.

Clubhouse Maintenance:

Access Control
Includes camera monthly fee, also includes access cards and repairs.

Air Conditioning Maintenance Contract
Estimated cost to maintain the air conditioning system.

Basketball Court Repairs and Maintenance
Estimated cost to maintain the basketball courts.

Cable and Internet
Estimated cost of cable TV and internet for the Club with Comcast and Ark Solvers as needed.

Circuit Training Equipment Maintenance
Estimated cost to maintain the circuit training equipment.

Palm Glades
Community Development District	General Fund

Club House: (continued)

Sauna Equipment Maintenance
Estimated cost to maintain the sauna equipment.

Electricity
FPL provides electricity for the club house.

Fire Alarm & Building Alarm Monitoring
Estimated cost of the fire alarm and building alarm monitoring services.

Gazebo and Trellis Repairs and Maintenance
Estimated cost of the repairs for the gazebo and trellis repairs and maintenance.

Holiday Decorations
The District will hire a company to decorate the common grounds for the holidays.

Insurance
The District's property insurance is with Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Irrigation Maintenance
Irrigation system within the clubhouse areas, which includes monthly wet check and irrigation system repair materials.

Janitorial Services
The District has contracted with All professional Cleaning to conduct these services. This contract includes one (1) full time janitor  for 40 hours per week.

Janitorial Supplies
Include additional janitorial supplies not provide by contract.

Landscape Maintenance
Maintaining the lawn and plants around the club.

Landscape Replacement
(Includes Mulching) that this line item includes plant replacement and mulching once a year.

Management Fees
Onsite management fees for the clubhouse.

Office Equipment Maintenance
Reflects the maintenance agreement for the copier plus any repairs to other office equipment.

Office Supplies/Clubhouse Supplies
Supplies to run Club and Club Office.

Pest Control
Preventative maintenance for bugs and rodents.

Pool, Spa and Waterpark Maintenance
Cost to maintain the pool, does not include repairs.

Pool, Spa and Waterpark Repairs
Cost to make unanticipated repairs to the pool.

Printing and Postage
The cost of any printing and postage associated with the club house.

Property Taxes
The counties property taxes for the club house

Repairs/Maintenance & Supplies
Maintenance expenditures required to repair and maintain the Club.

Palm Glades
Community Development District	General Fund

Club House: (continued)

Residential Social Expenses
Expenses related to Social Events.

Security
Night watch as needed.

Telephone
Cost of telephone lines for telephone, internet, fax and alarm systems.

Trash Collection/Recycling
Cost of trash and recycling removal.

Water & Sewer
Water and sewer cost for the Club.

Window Cleaning/Pressure Cleaning
Cost of cleaning the windows and pressure cleaning

Contingency
Any unscheduled repairs and maintenance that the District should incur during the fiscal year.

Palm Glades							Capital Reserve Fund	
Community Development District											
	FY2020			Actual		Projected		Total		FY2021	
	Adopted			through		Next		Projected		Adopted	
 Description		 	Budget				     5/31/2020			 	4 Months			     9/30/2020			 	Budget		
Revenues											
Interest Income		$0		$0		$150		$150		$250	
Capital Reserve Contribution		$0		$0		$200,000		$200,000		$175,000	
Carry Forward Surplus (1)		$0		$0		$0		$0		$200,150	
Total Revenues	 		$0 		 	$0 		 	$200,150 		 	$200,150 		 	$375,400 	
Expenditures											
Capital Reserve Expenses		$0		$0		$0		$0		$0	
Total Expenditures	 		$0 		 	$0 		 	$0 		 	$0 		 	$0 	
Other Financing Sources/(Uses)											
Interfund Transfer In/(Out)		$0		$669,567		($669,567)		$0		$0	
Total Other Financing Sources/(Uses)	 		$0 		 	$669,567 		 	($669,567)		 	$0 		 	$0 	
Excess Revenues/(Expenditures)		$0		$669,567		($469,417)		$200,150		$375,400	

Palm Glades							Debt Service	
Community Development District	
		Series 2016 Special Assessment Refunding Bonds	
	FY2020	Actual	Projected		Total		FY2021	
	Adopted	through	Next		Projected		Adopted	
 Description		 	Budget		     5/31/2020		 	4 Months			     9/30/2020			 	Budget		
Revenues								
Special Assessments	$899,599	$877,532	$22,066		$899,599		$899,599	
Interest Income	$2,500	$9,766	$250		$10,016		$2,500	
Carry Forward Surplus (1)	$416,405	$416,944	$0		$416,944		$439,685	
Total Revenues	 	$1,318,503 	 	$1,304,243 	 	$22,316 		 	$1,326,559 		 	$1,341,784 	
Expenditures								
Interest 11/1	$193,900	$193,900	$0		$193,900		$188,275	
Principal - 5/1	$500,000	$500,000	$0		$500,000		$505,000	
Interest - 5/1	$193,900	$193,900	$0		$193,900		$188,275	
Total Expenditures	 	$887,800 	 	$887,800 	 	$0 		 	$887,800 		 	$881,550 	
Other Financing Sources/(Uses)								
Interfund Transfer In/(Out)	$0	$927	$0		$927		$0	
Total Other Financing Sources/(Uses)	 	$0 	 	$927 	 	$0 		 	$927 		 	$0 	
Excess Revenues/(Expenditures)	$430,703	$417,369	$22,316		$439,685		$460,234	
			
Interest Payment - 11/1/2021		
$182,594	
(1) Carry forward surplus is net of Reserve requiremen	t.							
					No. of Units		FY 2021	
		Net Assessments					$899,599	
		Plus Collection Fees (5%)				$47,347	
		Gross Assessments					$946,946	
		Gross Single Family Per  Unit		372		$1,088	
		Gross Multi-family Per Unit		563		$963	

Palm Glades	
Community Development District	Series 2016, Special Assessment Refunding Bonds	
				Amortization Schedule	
DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL	

11/01/19	
$	11,015,000.00	
$	-	
$	193,900.00	
$	-	
05/01/20	$	11,015,000.00	$	500,000.00	$	193,900.00	$	887,800.00	
11/01/20	$	10,515,000.00	$	-	$	188,275.00	$	-	
05/01/21	$	10,515,000.00	$	505,000.00	$	188,275.00	$	881,550.00	
11/01/21	$	10,010,000.00	$	-	$	182,593.75	$	-	
05/01/22	$	10,010,000.00	$	520,000.00	$	182,593.75	$	885,187.50	
11/01/22	$	9,490,000.00	$	-	$	176,093.75	$	-	
05/01/23	$	9,490,000.00	$	530,000.00	$	176,093.75	$	882,187.50	
11/01/23	$	8,960,000.00	$	-	$	168,806.25	$	-	
05/01/24	$	8,960,000.00	$	550,000.00	$	168,806.25	$	887,612.50	
11/01/24	$	8,410,000.00	$	-	$	160,556.25	$	-	
05/01/25	$	8,410,000.00	$	565,000.00	$	160,556.25	$	886,112.50	
11/01/25	$	7,845,000.00	$	-	$	152,081.25	$	-	
05/01/26	$	7,845,000.00	$	580,000.00	$	152,081.25	$	884,162.50	
11/01/26	$	7,265,000.00	$	-	$	141,206.25	$	-	
05/01/27	$	7,265,000.00	$	605,000.00	$	141,206.25	$	887,412.50	
11/01/27	$	6,660,000.00	$	-	$	129,862.50	$	-	
05/01/28	$	6,660,000.00	$	630,000.00	$	129,862.50	$	889,725.00	
11/01/28	$	6,030,000.00	$	-	$	118,050.00	$	-	
05/01/29	$	6,030,000.00	$	655,000.00	$	118,050.00	$	891,100.00	
11/01/29	$	5,375,000.00	$	-	$	105,768.75	$	-	
05/01/30	$	5,375,000.00	$	680,000.00	$	105,768.75	$	891,537.50	
11/01/30	$	4,695,000.00	$	-	$	93,018.75	$	-	
05/01/31	$	4,695,000.00	$	705,000.00	$	93,018.75	$	891,037.50	
11/01/31	$	3,990,000.00	$	-	$	79,800.00	$	-	
05/01/32	$	3,990,000.00	$	735,000.00	$	79,800.00	$	894,600.00	
11/01/32	$	3,255,000.00	$	-	$	65,100.00	$	-	
05/01/33	$	3,255,000.00	$	765,000.00	$	65,100.00	$	895,200.00	
11/01/33	$	2,490,000.00	$	-	$	49,800.00	$	-	
05/01/34	$	2,490,000.00	$	795,000.00	$	49,800.00	$	894,600.00	
11/01/34	$	1,695,000.00	$	-	$	33,900.00	$	-	
05/01/35	$	1,695,000.00	$	830,000.00	$	33,900.00	$	897,800.00	
11/01/35	$	865,000.00	$	-	$	17,300.00	$	-	
05/01/36	$	865,000.00	$	865,000.00	$	17,300.00	$	899,600.00	
		$	11,015,000.00	$	4,112,225.00	$	15,127,225.00	

Palm Glades							Debt Service	
Community Development District	
		Series 2017 Special Assessment Refunding  Bonds	
	FY2020	Actual	Projected		Total		FY2021	
	Adopted	through	Next		Projected		Adopted	
 Description		 	Budget		     5/31/2020		 	4 Months			     9/30/2020			 	Budget		
Revenues								
Special Assessments	$727,253	$721,583	$5,670		$727,253		$727,253	
Interest Income	$1,000	$4,607	$250		$4,857		$1,000	
Carry Forward Surplus (1)	$242,214	$245,945	$0		$245,945		$249,755	
Total Revenues	 	$970,467 	 	$972,135 	 	$5,920 		 	$978,055 		 	$978,008 	
Expenditures								
Interest Expense - 11/1	$216,650	$216,650	$0		$216,650		$211,488	
Interest Expense - 5/1	$216,650	$216,650	$0		$216,650		$211,488	
Principal Expense - 5/1	$295,000	$295,000	$0		$295,000		$305,000	
Total Expenditures	 	$728,300 	 	$728,300 	 	$0 		 	$728,300 		 	$727,975 	
Excess   Revenues/(Expenditures)	$242,167	$243,835	$5,920		$249,755		$250,033	

(1) Carry forward surplus is net of Reserve requirement.			
Interest Payment - 11/1/2021		
$206,150	
					No. of Units		FY 2021	
		Net Assessments					$727,253	
		Plus Collection Fees (5%)				$38,276	
		Gross Assessments					$765,529	
		Gross Single Family Per  Unit		413		$1,039	
		Gross Multy-family Per Unit		364		$924	

Palm Glades	
Community Development District	Series 2017 Special Assessments Refunding  Bonds	
				Amortization Schedule	
DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL	

11/01/19	
$	9,270,000.00	
$	-	
$	216,650.00	
$	-	
05/01/20	$	9,270,000.00	$	295,000.00	$	216,650.00	$	728,300.00	
11/01/20	$	8,975,000.00	$	-	$	211,487.50	$	-	
05/01/21	$	8,975,000.00	$	305,000.00	$	211,487.50	$	727,975.00	
11/01/21	$	8,670,000.00	$	-	$	206,150.00	$	-	
05/01/22	$	8,670,000.00	$	320,000.00	$	206,150.00	$	732,300.00	
11/01/22	$	8,350,000.00	$	-	$	199,750.00	$	-	
05/01/23	$	8,350,000.00	$	330,000.00	$	199,750.00	$	729,500.00	
11/01/23	$	8,020,000.00	$	-	$	193,150.00	$	-	
05/01/24	$	8,020,000.00	$	345,000.00	$	193,150.00	$	731,300.00	
11/01/24	$	7,675,000.00	$	-	$	186,250.00	$	-	
05/01/25	$	7,675,000.00	$	360,000.00	$	186,250.00	$	732,500.00	
11/01/25	$	7,315,000.00	$	-	$	179,050.00	$	-	
05/01/26	$	7,315,000.00	$	375,000.00	$	179,050.00	$	733,100.00	
11/01/26	$	6,940,000.00	$	-	$	171,550.00	$	-	
05/01/27	$	6,940,000.00	$	390,000.00	$	171,550.00	$	733,100.00	
11/01/27	$	6,550,000.00	$	-	$	163,750.00	$	-	
05/01/28	$	6,550,000.00	$	410,000.00	$	163,750.00	$	737,500.00	
11/01/28	$	6,140,000.00	$	-	$	153,500.00	$	-	
05/01/29	$	6,140,000.00	$	430,000.00	$	153,500.00	$	737,000.00	
11/01/29	$	5,710,000.00	$	-	$	142,750.00	$	-	
05/01/30	$	5,710,000.00	$	450,000.00	$	142,750.00	$	735,500.00	
11/01/30	$	5,260,000.00	$	-	$	131,500.00	$	-	
05/01/31	$	5,260,000.00	$	475,000.00	$	131,500.00	$	738,000.00	
11/01/31	$	4,785,000.00	$	-	$	119,625.00	$	-	
05/01/32	$	4,785,000.00	$	500,000.00	$	119,625.00	$	739,250.00	
11/01/32	$	4,285,000.00	$	-	$	107,125.00	$	-	
05/01/33	$	4,285,000.00	$	525,000.00	$	107,125.00	$	739,250.00	
11/01/33	$	3,760,000.00	$	-	$	94,000.00	$	-	
05/01/34	$	3,760,000.00	$	550,000.00	$	94,000.00	$	738,000.00	
11/01/34	$	3,210,000.00	$	-	$	80,250.00	$	-	
05/01/35	$	3,210,000.00	$	580,000.00	$	80,250.00	$	740,500.00	
11/01/35	$	2,630,000.00	$	-	$	65,750.00	$	-	
05/01/36	$	2,630,000.00	$	610,000.00	$	65,750.00	$	741,500.00	
11/01/36	$	2,020,000.00	$	-	$	50,500.00	$	-	
05/01/37	$	2,020,000.00	$	640,000.00	$	50,500.00	$	741,000.00	
11/01/37	$	1,380,000.00	$	-	$	34,500.00	$	-	
05/01/38	$	1,380,000.00	$	675,000.00	$	34,500.00	$	744,000.00	
11/01/38	$	705,000.00	$	-	$	17,625.00	$	-	
05/01/39	$	705,000.00	$	705,000.00	$	17,625.00	$	740,250.00	
		$	9,270,000.00	$	5,449,825.00	$	14,719,825.00	

Palm Glades							Debt Service	
Community Development District	
	Series 2018A1/A2 Special Assessment Clubhouse Bonds	
	FY2020	Actual	Projected		Total		FY2021	
	Adopted	through	Next		Projected		Adopted	
 Description		 	Budget		     5/31/2020		 	4 Months			     9/30/2020			 	Budget		
Revenues								
Special Assessments	$682,112	$670,561	$11,551		$682,112		$682,112	
Interest Income	$500	$6,651	$250		$6,901		$500	
Carry Forward Surplus/Cap. Int. (1)	$456,106	$458,181	$0		$458,181		$474,761	
Total Revenues	 	$1,138,718 	 	$1,135,393 	 	$11,801 		 	$1,147,194 		 	$1,157,373 	
Expenditures								
Series 2018A1								
Interest Expense - 11/1	$185,420	$185,420	$0		$185,420		$182,720	
Principal Expense - 11/1	$180,000	$180,000	$0		$180,000		$185,000	
Interest Expense - 5/1	$182,720	$182,720	$0		$182,720		$179,945	
Series 2018A2								
Interest Expense - 11/1	$47,428	$47,428	$0		$47,428		$46,866	
Principal Expense - 11/1	$30,000	$30,000	$0		$30,000		$30,000	
Interest Expense - 5/1	$46,866	$46,866	$0		$46,866		$46,303	
Total Expenditures	 	$672,434 	 	$672,434 	 	$0 		 	$672,434 		 	$670,834 	
Excess Revenues/(Expenditures)	$466,284	$462,959	$11,801		$474,761		$486,539	

(1) Carry forward surplus is net of Reserve requirement.			
Interest & Principal Payment - 11/1/2021 A1		
$369,945	
			Interest & Principal Payment - 11/1/2021 A2		$81,303	
					No. of Units		FY 2021	
		Net Assessments					$682,112	
		Plus Collection Fees (5%)				$35,901	
		Gross Assessments					$718,013	
		Gross Single Family Per  Unit		935		$419	
		Gross Multy-family Per Unit		777		$419	

Palm Glades	
Community Development District	Series 2018A1 Special Assessments Clubhouse  Bonds	
				Amortization Schedule	
DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL	

05/01/20	
$	9,275,000.00	
$	-	
$	182,720.00	
$	550,440.00	
11/01/20	$	9,275,000.00	$	185,000.00	$	182,720.00		
05/01/21	$	9,090,000.00	$	-	$	179,945.00	$	549,890.00	
11/01/21	$	9,090,000.00	$	190,000.00	$	179,945.00		
05/01/22	$	8,900,000.00	$	-	$	177,095.00	$	549,190.00	
11/01/22	$	8,900,000.00	$	195,000.00	$	177,095.00		
05/01/23	$	8,705,000.00	$	-	$	174,170.00	$	553,340.00	
11/01/23	$	8,705,000.00	$	205,000.00	$	174,170.00		
05/01/24	$	8,500,000.00	$	-	$	171,095.00	$	552,190.00	
11/01/24	$	8,500,000.00	$	210,000.00	$	171,095.00		
05/01/25	$	8,290,000.00	$	-	$	167,945.00	$	550,890.00	
11/01/25	$	8,290,000.00	$	215,000.00	$	167,945.00		
05/01/26	$	8,075,000.00	$	-	$	164,182.50	$	553,365.00	
11/01/26	$	8,075,000.00	$	225,000.00	$	164,182.50		
05/01/27	$	7,850,000.00	$	-	$	160,245.00	$	550,490.00	
11/01/27	$	7,850,000.00	$	230,000.00	$	160,245.00		
05/01/28	$	7,620,000.00	$	-	$	156,220.00	$	552,440.00	
11/01/28	$	7,620,000.00	$	240,000.00	$	156,220.00		
05/01/29	$	7,380,000.00	$	-	$	152,020.00	$	549,040.00	
11/01/29	$	7,380,000.00	$	245,000.00	$	152,020.00		
05/01/30	$	7,135,000.00	$	-	$	147,120.00	$	549,240.00	
11/01/30	$	7,135,000.00	$	255,000.00	$	147,120.00		
05/01/31	$	6,880,000.00	$	-	$	142,020.00	$	549,040.00	
11/01/31	$	6,880,000.00	$	265,000.00	$	142,020.00		
05/01/32	$	6,615,000.00	$	-	$	136,720.00	$	553,440.00	
11/01/32	$	6,615,000.00	$	280,000.00	$	136,720.00		
05/01/33	$	6,335,000.00	$	-	$	131,120.00	$	552,240.00	
11/01/33	$	6,335,000.00	$	290,000.00	$	131,120.00		
05/01/34	$	6,045,000.00	$	-	$	125,320.00	$	550,640.00	
11/01/34	$	6,045,000.00	$	300,000.00	$	125,320.00		
05/01/35	$	5,745,000.00	$	-	$	119,320.00	$	548,640.00	
11/01/35	$	5,745,000.00	$	310,000.00	$	119,320.00		
05/01/36	$	5,435,000.00	$	-	$	113,120.00	$	551,240.00	
11/01/36	$	5,435,000.00	$	325,000.00	$	113,120.00		
05/01/37	$	5,110,000.00	$	-	$	106,620.00	$	553,240.00	
11/01/37	$	5,110,000.00	$	340,000.00	$	106,620.00		
05/01/38	$	4,770,000.00	$	-	$	99,820.00	$	549,640.00	
11/01/38	$	4,770,000.00	$	350,000.00	$	99,820.00		
05/01/39	$	4,420,000.00	$	-	$	92,820.00	$	550,640.00	
11/01/39	$	4,420,000.00	$	365,000.00	$	92,820.00		
05/01/40	$	4,055,000.00	$	-	$	85,155.00	$	550,310.00	
11/01/40	$	4,055,000.00	$	380,000.00	$	85,155.00		
05/01/41	$	3,675,000.00	$	-	$	77,175.00	$	549,350.00	
11/01/41	$	3,675,000.00	$	395,000.00	$	77,175.00		
05/01/42	$	3,280,000.00	$	-	$	68,880.00	$	552,760.00	
11/01/42	$	3,280,000.00	$	415,000.00	$	68,880.00		
05/01/43	$	2,865,000.00	$	-	$	60,165.00	$	550,330.00	
11/01/43	$	2,865,000.00	$	430,000.00	$	60,165.00		
05/01/44	$	2,435,000.00	$	-	$	51,135.00	$	552,270.00	
11/01/44	$	2,435,000.00	$	450,000.00	$	51,135.00		
05/01/45	$	1,985,000.00	$	-	$	41,685.00	$	548,370.00	
11/01/45	$	1,985,000.00	$	465,000.00	$	41,685.00		
05/01/46	$	1,520,000.00	$	-	$	31,920.00	$	548,840.00	
11/01/46	$	1,520,000.00	$	485,000.00	$	31,920.00		
05/01/47	$	1,035,000.00	$	-	$	21,735.00	$	548,470.00	
11/01/47	$	1,035,000.00	$	505,000.00	$	21,735.00		
05/01/48	$	530,000.00	$	530,000.00	$	22,260.00	$	552,260.00	
		$	9,275,000.00	$	6,697,235.00	$	15,972,235.00	

Palm Glades	
Community Development District	Series 2018A2 Special Assessments Clubhouse  Bonds	
				Amortization Schedule	
DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL	

05/01/20	
$	1,905,000.00	
$	-	
$	46,865.63	
$	123,731.26	
11/01/20	$	1,905,000.00	$	30,000.00	$	46,865.63		
05/01/21	$	1,875,000.00	$	-	$	46,303.13	$	127,606.26	
11/01/21	$	1,875,000.00	$	35,000.00	$	46,303.13		
05/01/22	$	1,840,000.00	$	-	$	45,646.88	$	126,293.76	
11/01/22	$	1,840,000.00	$	35,000.00	$	45,646.88		
05/01/23	$	1,805,000.00	$	-	$	44,990.63	$	124,981.26	
11/01/23	$	1,805,000.00	$	35,000.00	$	44,990.63		
05/01/24	$	1,770,000.00	$	-	$	44,334.38	$	128,668.76	
11/01/24	$	1,770,000.00	$	40,000.00	$	44,334.38		
05/01/25	$	1,730,000.00	$	-	$	43,434.38	$	126,868.76	
11/01/25	$	1,730,000.00	$	40,000.00	$	43,434.38		
05/01/26	$	1,690,000.00	$	-	$	42,534.38	$	125,068.76	
11/01/26	$	1,690,000.00	$	40,000.00	$	42,534.38		
05/01/27	$	1,650,000.00	$	-	$	41,634.38	$	128,268.76	
11/01/27	$	1,650,000.00	$	45,000.00	$	41,634.38		
05/01/28	$	1,605,000.00	$	-	$	40,621.88	$	126,243.76	
11/01/28	$	1,605,000.00	$	45,000.00	$	40,621.88		
05/01/29	$	1,560,000.00	$	-	$	39,609.38	$	124,218.76	
11/01/29	$	1,560,000.00	$	45,000.00	$	39,609.38		
05/01/30	$	1,515,000.00	$	-	$	38,484.38	$	126,968.76	
11/01/30	$	1,515,000.00	$	50,000.00	$	38,484.38		
05/01/31	$	1,465,000.00	$	-	$	37,234.38	$	124,468.76	
11/01/31	$	1,465,000.00	$	50,000.00	$	37,234.38		
05/01/32	$	1,415,000.00	$	-	$	35,984.38	$	126,968.76	
11/01/32	$	1,415,000.00	$	55,000.00	$	35,984.38		
05/01/33	$	1,360,000.00	$	-	$	34,609.38	$	124,218.76	
11/01/33	$	1,360,000.00	$	55,000.00	$	34,609.38		
05/01/34	$	1,305,000.00	$	-	$	33,234.38	$	126,468.76	
11/01/34	$	1,305,000.00	$	60,000.00	$	33,234.38		
05/01/35	$	1,245,000.00	$	-	$	31,734.38	$	128,468.76	
11/01/35	$	1,245,000.00	$	65,000.00	$	31,734.38		
05/01/36	$	1,180,000.00	$	-	$	30,109.38	$	125,218.76	
11/01/36	$	1,180,000.00	$	65,000.00	$	30,109.38		
05/01/37	$	1,115,000.00	$	-	$	28,484.38	$	126,968.76	
11/01/37	$	1,115,000.00	$	70,000.00	$	28,484.38		
05/01/38	$	1,045,000.00	$	-	$	26,734.38	$	123,468.76	
11/01/38	$	1,045,000.00	$	70,000.00	$	26,734.38		
05/01/39	$	975,000.00	$	-	$	24,984.38	$	124,968.76	
11/01/39	$	975,000.00	$	75,000.00	$	24,984.38		
05/01/40	$	900,000.00	$	-	$	23,062.50	$	126,125.00	
11/01/40	$	900,000.00	$	80,000.00	$	23,062.50		
05/01/41	$	820,000.00	$	-	$	21,012.50	$	127,025.00	
11/01/41	$	820,000.00	$	85,000.00	$	21,012.50		
05/01/42	$	735,000.00	$	-	$	18,834.38	$	127,668.76	
11/01/42	$	735,000.00	$	90,000.00	$	18,834.38		
05/01/43	$	645,000.00	$	-	$	16,528.13	$	128,056.26	
11/01/43	$	645,000.00	$	95,000.00	$	16,528.13		
05/01/44	$	550,000.00	$	-	$	14,093.75	$	128,187.50	
11/01/44	$	550,000.00	$	100,000.00	$	14,093.75		
05/01/45	$	450,000.00	$	-	$	11,531.25	$	128,062.50	
11/01/45	$	450,000.00	$	105,000.00	$	11,531.25		
05/01/46	$	345,000.00	$	-	$	8,840.63	$	127,681.26	
11/01/46	$	345,000.00	$	110,000.00	$	8,840.63		
05/01/47	$	235,000.00	$	-	$	6,021.88	$	127,043.76	
11/01/47	$	235,000.00	$	115,000.00	$	6,021.88		
05/01/48	$	120,000.00	$	120,000.00	$	6,150.00	$	126,150.00	
		$	1,905,000.00	$	1,761,137.74	$	3,666,137.74	

Palm Glades							Debt Service	
Community Development District	
	Series 2020 Special Assessment Bonds (Expansion Area Project)	
	FY2020	Actual	Projected		Total		FY2021	
	Adopted	through	Next		Projected		Adopted	
 Description		 	Budget		     5/31/2020		 	4 Months			     9/30/2020			 	Budget		
Revenues								
Special Assessments	$0	$0	$0		$0		$51,000	
Interest Income	$0	$0	$100		$100		$500	
Carry Forward Surplus (1)	$0	$0	$0		$0		$16,960	
Total Revenues	 	$0 	 	$0 	 	$100 		 	$100 		 	$68,460 	
Expenditures								
Interest 11/1	$0	$0	$0		$0		$16,860	
Principal - 5/1	$0	$0	$0		$0		$15,000	
Interest - 5/1	$0	$0	$0		$0		$16,675	
Total Expenditures	 	$0 	 	$0 	 	$0 		 	$0 		 	$48,535 	
Other Financing Sources/(Uses)								
Bond Proceeds	$0	$42,360	$0		$42,360		$0	
Total Other Financing Sources/(Uses)	 	$0 	 	$42,360 	 	$0 		 	$42,360 		 	$0 	
Excess Revenues/(Expenditures)	$0	$42,360	$100		$42,460		$19,925	
			
Interest Payment - 11/1/2021		
$16,431	
(1) Carry forward surplus is net of Reserve requiremen	t.							
					No. of Units		FY 2021	
		Net Assessments					$51,000	
		Plus Collection Fees (5%)				$2,684	
		Gross Assessments					$53,684	
		Gross Single Family Per  Unit		43		$1,248	

Palm Glades	
Community Development District	Series 2020, Special Assessment Bonds (Expansion Area Project)	
				Amortization Schedule	
DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL	
					
11/01/20	$	845,000.00	$	-	$	16,860.28		
05/01/21	$	845,000.00	$	15,000.00	$	16,675.00	$	48,535.28	
11/01/21	$	830,000.00	$	-	$	16,431.25		
05/01/22	$	830,000.00	$	15,000.00	$	16,431.25	$	47,862.50	
11/01/22	$	815,000.00	$	-	$	16,187.50		
05/01/23	$	815,000.00	$	15,000.00	$	16,187.50	$	47,375.00	
11/01/23	$	800,000.00	$	-	$	15,943.75		
05/01/24	$	800,000.00	$	15,000.00	$	15,943.75	$	46,887.50	
11/01/24	$	785,000.00	$	-	$	15,700.00		
05/01/25	$	785,000.00	$	20,000.00	$	15,700.00	$	51,400.00	
11/01/25	$	765,000.00	$	-	$	15,300.00		
05/01/26	$	765,000.00	$	20,000.00	$	15,300.00	$	50,600.00	
11/01/26	$	745,000.00	$	-	$	14,900.00		
05/01/27	$	745,000.00	$	20,000.00	$	14,900.00	$	49,800.00	
11/01/27	$	725,000.00	$	-	$	14,500.00		
05/01/28	$	725,000.00	$	20,000.00	$	14,500.00	$	49,000.00	
11/01/28	$	705,000.00	$	-	$	14,100.00		
05/01/29	$	705,000.00	$	20,000.00	$	14,100.00	$	48,200.00	
11/01/29	$	685,000.00	$	-	$	13,700.00		
05/01/30	$	685,000.00	$	20,000.00	$	13,700.00	$	47,400.00	
11/01/30	$	665,000.00	$	-	$	13,300.00		
05/01/31	$	665,000.00	$	20,000.00	$	13,300.00	$	46,600.00	
11/01/31	$	645,000.00	$	-	$	12,900.00		
05/01/32	$	645,000.00	$	25,000.00	$	12,900.00	$	50,800.00	
11/01/32	$	620,000.00	$	-	$	12,400.00		
05/01/33	$	620,000.00	$	25,000.00	$	12,400.00	$	49,800.00	
11/01/33	$	595,000.00	$	-	$	11,900.00		
05/01/34	$	595,000.00	$	25,000.00	$	11,900.00	$	48,800.00	
11/01/34	$	570,000.00	$	-	$	11,400.00		
05/01/35	$	570,000.00	$	25,000.00	$	11,400.00	$	47,800.00	
11/01/35	$	545,000.00	$	-	$	10,900.00		
05/01/36	$	545,000.00	$	25,000.00	$	10,900.00	$	46,800.00	
11/01/36	$	520,000.00	$	-	$	10,400.00		
05/01/37	$	520,000.00	$	30,000.00	$	10,400.00	$	50,800.00	
11/01/37	$	490,000.00	$	-	$	9,800.00		
05/01/38	$	490,000.00	$	30,000.00	$	9,800.00	$	49,600.00	
11/01/38	$	460,000.00	$	-	$	9,200.00		
05/01/39	$	460,000.00	$	30,000.00	$	9,200.00	$	48,400.00	
11/01/39	$	430,000.00	$	-	$	8,600.00		
05/01/40	$	430,000.00	$	30,000.00	$	8,600.00	$	47,200.00	
11/01/40	$	400,000.00	$	-	$	8,000.00		
05/01/41	$	400,000.00	$	35,000.00	$	8,000.00	$	51,000.00	
11/01/41	$	365,000.00	$	-	$	7,300.00		
05/01/42	$	365,000.00	$	35,000.00	$	7,300.00	$	49,600.00	
11/01/42	$	330,000.00	$	-	$	6,600.00		
05/01/43	$	330,000.00	$	35,000.00	$	6,600.00	$	48,200.00	
11/01/43	$	295,000.00	$	-	$	5,900.00		
05/01/44	$	295,000.00	$	35,000.00	$	5,900.00	$	46,800.00	
11/01/44	$	260,000.00	$	-	$	5,200.00		
05/01/45	$	260,000.00	$	40,000.00	$	5,200.00	$	50,400.00	
11/01/45	$	220,000.00	$	-	$	4,400.00		
05/01/46	$	220,000.00	$	40,000.00	$	4,400.00	$	48,800.00	
11/01/46	$	180,000.00	$	-	$	3,600.00		
05/01/47	$	180,000.00	$	40,000.00	$	3,600.00	$	47,200.00	
11/01/47	$	140,000.00	$	-	$	2,800.00		
05/01/48	$	140,000.00	$	45,000.00	$	2,800.00	$	50,600.00	
11/01/48	$	95,000.00	$	-	$	1,900.00		
05/01/49	$	95,000.00	$	45,000.00	$	1,900.00	$	48,800.00	
11/01/49	$	50,000.00	$	-	$	1,000.00		
05/01/50	$	50,000.00	$	50,000.00	$	1,000.00	$	52,000.00	
11/01/50	$	-	$	-	$	-		
		$	845,000.00	$	622,060.28	$	1,467,060.28