OTC
Community Development District

Approved Budget
FY 2027

Table of Contents

1		General Fund	

2-3	
	Narratives	

4	
	Debt Service Fund Series 2022	

5	
	Amortization Schedule Series 2022	

6	
	Assessment Schedule	

7	
	Capital Reserve Fund	

Adopted
Budget	Actuals Thru	Projected Next  Projected Thru

Approved Budget

Approved Budget General Fund

Description	FY 2026	3/31/26		6 Months		9/30/26	FY 2027	
REVENUES:						
Special Assessments - Tax Roll	$	84,046	$	81,761	$	2,285	$	84,046	$	84,046	
Interest Earned	1,000	3,630	1,500	5,130	1,000	
Carry Forward Surplus	3,740	-	3,740	3,740	6,354	
TOTAL REVENUES	$	88,786	$	85,392	$	7,525	$	92,916	$	91,400	

EXPENDITURES:						
Administrative:						
Supervisors Fees	$	1,800	$	600	$	600	$	1,200	$	1,800	
FICA Expense	138	46	46	92	138	
Engineering Fees	2,000	460	1,540	2,000	2,400	
Attorney Fees	7,500	3,253	4,247	7,500	7,500	
Arbitrage	600	-	600	600	600	
Annual Audit	3,700	3,400	-	3,400	3,500	
Assessment Roll Administration	5,899	5,899	-	5,899	6,253	
Trustee Fees	4,950	1,250	2,500	3,750	4,125	
Management Fees	43,357	21,678	21,678	43,357	45,958	
Information Technology	2,371	1,186	1,186	2,371	2,514	
Website Maintenance	1,168	584	584	1,168	1,238	
Telephone	25	10	15	25	25	
Postage & Delivery	200	77	123	200	200	
Printing & Binding	300	37	263	300	300	
Insurance General Liability	9,305	8,296	-	8,296	9,126	
Travel Per Diem	250	-	-	-	-	
Legal Advertising	2,000	338	1,662	2,000	2,000	
Other Current Charges	500	422	78	500	1,000	
Office Supplies	100	0	100	100	100	
Dues, Licenses, Subscriptions	175	175	-	175	175	
TOTAL ADMINISTRATIVE	$	86,338	$	47,710	$	35,223	$	82,933	$	88,952	

Operations & Maintenance						
Maintenance						
Stormwater maintenance	$	2,448	$	-	$	2,448	$	2,448	$	2,448	
Total Maintenance	$	2,448	$	-	$	2,448	$	2,448	$	2,448	
						
TOTAL EXPENDITURES	$	88,786	$	47,710	$	37,671	$	85,381	$	91,400	
						
EXCESS REVENUES (EXPENDITURES)	$	-	$	37,681	$	(30,146)	$	7,535	$	-	

REVENUES

Special Assessments - Tax Roll
The District will levy a Non-Ad Valorem assessment on all sold and platted parcels within the District in order to pay for the operating expenditures during the Fiscal Year. The assessments will be collected by the Duval County Tax Collectors Office.
Interest Earned
The District earns interest on the monthly average collected balance for each of their investment accounts.
Carry Forward Surplus
Estimated surplus funds from the prior fiscal year, carried forward to offset assessments in the following fiscal year.

Expenditures - Administrative

Supervisors Fees
Chapter 190 of the Florida Statutes allows for members of the Board of Supervisors to be compensated $200 per meeting that they attend.
FICA Taxes
Payroll taxes on Board of Supervisor’s compensation. The budgeted amount for the fiscal year is calculated at 7.65% of the total Board of Supervisor’s payroll expenditures.
Engineering Fees
The District's engineer, Alliant, will provide general engineering services to the District, i.e., attendance and preparation for monthly Board meetings, review of invoices, and other specifically requested assignments.
Attorney Fees
The District's attorney, Kilinski Van Wyk, PLLC, will provide general legal services to the District, i.e., attendance and preparation for monthly Board meetings, review of contracts, review of agreements and resolutions, and other research assigned as directed by the Board of Supervisors and the District Manager.
Arbitrage
The District is required to annually have an arbitrage rebate calculation on the District’s Series 2022 Special Assessment Revenue Bonds. The District has contracted with Grau and Company to calculate the rebate liability and submit a report to the District.
Annual Audit
The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm. The District has contracted with Grau and Associates to conduct their annual audit.

Assessment Roll Administration
GMS, LLC provides assessment services for closing lot sales, assessment roll services with the local Tax Collector, and financial advisory services.
Trustee Fees
The District's Series 2022 Special Assessment Revenue Bonds are held by a trustee at Regions Bank. The amount represents the fee for the administration of the District's bond issue.
Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services, LLC. These services are further outlined in Exhibit “A” of the Management Agreement. District website services are included in the GMS agreement to be compliant with section 189 of the Florida Statutes.
Information Technology
The District processes all of its financial activities, i.e., accounts payable, financial statements, etc., on a mainframe computer leased by Governmental Management Services, LLC.
Website Maintenance
Per Chapter 2014-22, Laws of Florida, all Districts must have a website to provide detailed information on the CDD as well as links to useful websites regarding compliance issues. This website will be maintained by GMS, LLC and updated monthly.
Telephone
New internet and Wi-Fi service for the office.
Postage and Delivery
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.
Printing and Binding
Copies used in the preparation of agenda packages, required mailings, and other special projects.
Insurance General Liability
The District's General Liability & Public Officials Liability Insurance policy is with a qualified entity that specializes in providing insurance coverage to governmental agencies. The amount is based upon similar Community Development Districts.

Expenditures - Administrative (continued)

Legal Advertising
The District is required to advertise various notices for monthly Board meetings and other public hearings in a newspaper of general circulation.
Other Current Charges
This includes monthly bank charges and any other miscellaneous expenses that may be incurred during the year.
Office Supplies
Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects.
Dues, Licenses & Subscriptions
The District is required to pay an annual fee to the Florida Department of Commerce for $175.

Expenditures – Operations

Stormwater
The District has entered into an agreement with Jacksonville MZL, LLC for pond maintenance services dated January 2017. The agreement provides for Argyle to provide services related to District pond/storm water facilities and to maintain compliance with St. Johns Water River Management District permit #04-031-65850-43.

Vendor	Monthly Amount	Annual Amount	
Jacksonville MZL, LLC	$204.00	$2,448.00	

Approved Budget
Debt Service Series 2022 Special Assessment Revenue and Refunding Bonds

Description

Adopted Budget FY 2026

Actuals Thru	Projected Next  Projected Thru

3/31/26

	6 Months	

9/30/26

Approved Budget FY 2027

REVENUES:

Special Assessments - Tax Roll	$	544,575	$	527,741	$	14,747	$	542,488	$	544,575	
Interest Earnings	5,000	5,202	2,500	7,702	5,000	
Carry Forward Surplus (1)	207,048	207,584	-	207,584	208,486	
TOTAL REVENUES	$	756,623	$	740,526	$	17,247	$	757,773	$	758,061	

EXPENDITURES:						
Interest 11/1	$	114,644	$	114,644	$	-	$	114,644	$	107,844	
Interest 5/1	114,644	-	114,644	114,644	107,844	
Principal 5/1	320,000	-	320,000	320,000	330,000	
TOTAL EXPENDITURES	$	549,288	$	114,644	$	434,644	$	549,288	$	545,688	

Other Sources/(Uses)						

Interfund transfer In/(Out)	
$	-	
$	-	
$	-	
$	-	
$	-	
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	
						
TOTAL EXPENDITURES	$	549,288	$	114,644	$	434,644	$	549,288	$	545,688	
						
EXCESS REVENUES (EXPENDITURES)	$	207,336	$	625,883	$  (417,397)	$	208,486	$	212,373	

(1) Carry Forward is Net of Reserve Requirement

Interest Due 11/1/27

 $	100,831 

AMORTIZATION SCHEDULE
Debt Service Series 2022 Special Assessment Revenue and Refunding Bonds

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	
						
11/01/26	5,075,000	4.250%		107,844	107,843.75	
05/01/27	5,075,000	4.250%	330,000	107,844		
11/01/27	4,745,000	4.250%		100,831	538,675.00	
05/01/28	4,745,000	4.250%	345,000	100,831		
11/01/28	4,400,000	4.250%		93,500	539,331.25	
05/01/29	4,400,000	4.250%	360,000	93,500		
11/01/29	4,040,000	4.250%		85,850	539,350.00	
05/01/30	4,040,000	4.250%	375,000	85,850		
11/01/30	3,665,000	4.250%		77,881	538,731.25	
05/01/31	3,665,000	4.250%	395,000	77,881		
11/01/31	3,270,000	4.250%		69,488	542,368.75	
05/01/32	3,270,000	4.250%	410,000	69,488		
11/01/32	2,860,000	4.250%		60,775	540,262.50	
05/01/33	2,860,000	4.250%	430,000	60,775		
11/01/33	2,430,000	4.250%		51,638	542,412.50	
05/01/34	2,430,000	4.250%	445,000	51,638		
11/01/34	1,985,000	4.250%		42,181	538,818.75	
05/01/35	1,985,000	4.250%	465,000	42,181		
11/01/35	1,520,000	4.250%		32,300	539,481.25	
05/01/36	1,520,000	4.250%	485,000	32,300		
11/01/36	1,035,000	4.250%		21,994	539,293.75	
05/01/37	1,035,000	4.250%	505,000	21,994		
11/01/37	530,000	4.250%		11,263	538,256.25	
05/01/38	530,000	4.250%	530,000	11,263	541,262.50	
Total		$	5,075,000  $	1,511,088	$	6,586,088	

Non-Ad Valorem Assessments Comparison 2026-2027

Neighborhood	O&M Units	Bonds 2022 Units	
Annual Maintenance Assessments	
Annual Debt Assessments	
	
FY 2027	
FY 2026	Increase/ (decrease)	
FY 2027	
FY 2026	Increase/ (decrease)	

Commercial	

780,000	

780,000	

$0.1165	

$0.1165	

$0.00	

$0.7548	

$0.7548	

$0.00	
Total	780,000	780,000							

Approved Budget Capital Reserve Fund

Description

Adopted Budget FY 2026

Actuals Thru	Projected Next  Projected Thru

3/31/26

	6 Months	

9/30/26

Approved Budget FY 2027

REVENUES:

Interest Income	$	500	$	377	$	100	$	477	$	500	
Carry Forward Balance	18,808	18,746	-	18,746	19,223	
TOTAL REVENUES	$	19,308	$	19,123	$	100	$	19,223	$	19,723	

EXPENDITURES:
Capital Outlay	$	-	

$	-	

$	-	

$	-	

$	-	
TOTAL EXPENDITURES	$	-	$	-	$	-	$	-	$	-	

Other Sources/(Uses)					

Transfer in/(Out)	
$	-	
$	-	
$	-	
$	-	
$	-	
TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	
						
TOTAL EXPENDITURES	$	-	$	-	$	-	$	-	$	-	
						
EXCESS REVENUES (EXPENDITURES)	$	19,308	$	19,123	$	100	$	19,223	$	19,723