Crystal Cay	
Community Development District	

Proposed Budget	
FY 2025	

Table of Contents

1

2-3

4

5

	General Fund

	Narratives

	Debt Service Fund Series 2021

	Series 2021 Amortization Schedule

6		Assessment Schedule

Crystal Cay	
Community Development District	
Proposed Budget	
General Fund	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2024	2/29/24	7 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments - On Roll	$	136,500	$	132,165	$	4,335	$	136,500	$	136,501	

TOTAL REVENUES	$136,500	$132,165	$4,335	$136,500	$136,501	

EXPENDITURES:

Administrative						
Engineering	$	7,000	$	-	$	7,000	$	7,000	$	7,000	
Attorney	15,000	1,522	13,478	15,000	15,000	
Annual Audit	4,500	4,600	-	4,600	4,800	
Assessment Administration	2,000	2,000	-	2,000	2,000	
Arbitrage Rebate	600	-	600	600	600	
Dissemination Agent	2,625	1,094	1,531	2,625	2,625	
Trustee Fees	3,000	2,500	500	3,000	3,000	
Management Fees	39,900	16,625	23,275	39,900	42,693	
Website Maintenance	1,260	525	735	1,260	1,260	
Telephone	50	-	50	50	50	
Postage & Delivery	750	44	706	750	750	
Insurance General Liability	6,300	5,590	710	6,300	6,615	
Printing & Binding	1,000	8	992	1,000	500	
Legal Advertising	2,500	-	2,500	2,500	3,000	
Other Current Charges	860	563	297	860	1,200	
Office Supplies	150	0	150	150	150	
Dues, Licenses & Subscriptions	175	175	-	175	175	
TOTAL ADMINISTRATIVE	$87,670	$35,246	$52,524	$87,770	$91,418	
Operations & Maintenance
Field Expenditures

Lake Maintenance	$	12,000	$3,500	$8,500	$12,000	$	12,000	
Repairs & Maintenance	20,000	-	11,667	11,667	20,000	
Contingency	16,830	-	9,818	9,818	13,083	
TOTAL FIELD EXPENDITURES	$48,830	$3,500	$29,984	$33,484	$45,083	

TOTAL EXPENDITURES	$136,500	$38,746	$82,508	$121,254	$136,501	

EXCESS REVENUES (EXPENDITURES)	$-	$93,419	$(78,174)	$15,246	$	-	

Crystal Cay	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

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.	

Expenditures - Administrative	

Engineering	
The District's engineer 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	
The District’s Attorney, will be providing 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.	
Annual Audit	
The District is required to conduct an annual audit of its financial records by an Independent Certified Public Accounting Firm. The budgeted amount for the fiscal year is based on contracted fees from the previous year engagement plus anticipated increase.	
Assessment Roll Administration	
GMS SF, LLC provides assessment services for closing lot sales, assessment roll services with the local Tax Collector and financial advisory services.	
Dissemination Agent	
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.	
Trustee Fees	
The District bonds will be held and administered by a Trustee. This represents the trustee annual fee.	
Management Fees	
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-South Florida, LLC. The budgeted amount for the fiscal year is based on the contracted fees outlined in Exhibit "A" of the Management Agreement.	
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-SF, LLC and updated monthly.	
Communication - Telephone	
New internet and Wi-Fi service for Office.	
Postage and Delivery	
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.	
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.	
Printing and Binding	
Copies used in the preparation of agenda packages, required mailings, and other special projects.	

Crystal Cay	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

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 incur during the year.	
Office Supplies	
Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects.	
Due, Licenses & Subscriptions	
The District is required to pay an annual fee to the Department of Economic Opportunity Community Affairs for $175.	

Expenditures – Field	

Lake Maintenance	
The maintenance of CDD owned lakes.	
Repairs & Maintenance	
Miscellaneous repairs and maintenance as needed for CDD owned property	
Contingency	
Represents any un-budgeted expense.	

Crystal Cay	
Community Development District	
Proposed Budget	
Debt Service Series 2021 Special Assessment Bonds	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2024	2/29/24	7 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments-On Roll	$445,380	$429,321	$16,059	$445,380	$445,380	
Carry Forward Surplus (1)	139,058	139,058	-	139,058	140,349	

TOTAL REVENUES	$584,439	$568,380	$16,059	$584,439	$585,729	

EXPENDITURES:

Interest - 11/1	$132,045	$132,045	$-	$132,045	$130,020	
Interest - 5/1	180,000	-	180,000	180,000	185,000	
Principal - 5/1	132,045	-	132,045	132,045	130,020	

TOTAL EXPENDITURES	$444,090	$132,045	$312,045	$444,090	$445,040	

TOTAL EXPENDITURES	$444,090	$132,045	$312,045	$444,090	$445,040	

EXCESS REVENUES (EXPENDITURES)	$140,349	$436,335	$(295,986)	$140,349	$140,689	

Interest Due 11/1/25	$127,938.75	
	$127,938.75	

(1) Carry Forward is Net of Reserve Requirement

Crystal Cay	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2021 Special Assessment Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	
						
11/01/24	7,605,000	2.250%	-	130,020	445,040.00	
05/01/25	7,605,000	2.250%	185,000	130,020		
11/01/25	7,420,000	2.250%	-	127,939	445,877.50	
05/01/26	7,420,000	2.250%	190,000	127,939		
11/01/26	7,230,000	2.250%	-	125,801	446,602.50	
05/01/27	7,230,000	2.700%	195,000	125,801		
11/01/27	7,035,000	2.700%	-	123,169	446,337.50	
05/01/28	7,035,000	2.700%	200,000	123,169		
11/01/28	6,835,000	2.700%	-	120,469	445,937.50	
05/01/29	6,835,000	2.700%	205,000	120,469		
11/01/29	6,630,000	2.700%	-	117,701	445,402.50	
05/01/30	6,630,000	2.700%	210,000	117,701		
11/01/30	6,420,000	2.700%	-	114,866	444,732.50	
05/01/31	6,420,000	2.700%	215,000	114,866		
11/01/31	6,205,000	3.050%	-	111,964	443,927.50	
05/01/32	6,205,000	3.050%	220,000	111,964		
11/01/32	5,985,000	3.050%	-	108,609	447,217.50	
05/01/33	5,985,000	3.050%	230,000	108,609		
11/01/33	5,755,000	3.050%	-	105,101	445,202.50	
05/01/34	5,755,000	3.050%	235,000	105,101		
11/01/34	5,520,000	3.050%	-	101,518	448,035.00	
05/01/35	5,520,000	3.050%	245,000	101,518		
11/01/35	5,275,000	3.050%	-	97,781	445,562.50	
05/01/36	5,275,000	3.050%	250,000	97,781		
11/01/36	5,025,000	3.050%	-	93,969	447,937.50	
05/01/37	5,025,000	3.050%	260,000	93,969		
11/01/37	4,765,000	3.050%	-	90,004	445,007.50	
05/01/38	4,765,000	3.050%	265,000	90,004		
11/01/38	4,500,000	3.050%	-	85,963	446,925.00	
05/01/39	4,500,000	3.050%	275,000	85,963		
11/01/39	4,225,000	3.050%	-	81,769	448,537.50	
05/01/40	4,225,000	3.050%	285,000	81,769		
11/01/40	3,940,000	3.050%	-	77,423	444,845.00	
05/01/41	3,940,000	3.050%	290,000	77,423		
11/01/41	3,650,000	4.000%	-	73,000	451,000.00	
05/01/42	3,650,000	4.000%	305,000	73,000		
11/01/42	3,345,000	4.000%	-	66,900	448,800.00	
05/01/43	3,345,000	4.000%	315,000	66,900		
11/01/43	3,030,000	4.000%	-	60,600	451,200.00	
05/01/44	3,030,000	4.000%	330,000	60,600		
11/01/44	2,700,000	4.000%	-	54,000	448,000.00	
05/01/45	2,700,000	4.000%	340,000	54,000		
11/01/45	2,360,000	4.000%	-	47,200	449,400.00	
05/01/46	2,360,000	4.000%	355,000	47,200		
11/01/46	2,005,000	4.000%	-	40,100	450,200.00	
05/01/47	2,005,000	4.000%	370,000	40,100		
11/01/47	1,635,000	4.000%	-	32,700	450,400.00	
05/01/48	1,635,000	4.000%	385,000	32,700		
11/01/48	1,250,000	4.000%	-	25,000	450,000.00	
05/01/49	1,250,000	4.000%	400,000	25,000		
11/01/49	850,000	4.000%	-	17,000	449,000.00	
05/01/50	850,000	4.000%	415,000	17,000		
11/01/50	435,000	4.000%	-	8,700	452,400.00	
05/01/51	435,000	4.000%	435,000	8,700		
Total			$7,605,000	$4,478,528	$12,083,528	

Crystal Cay	
Community Development District	
Non-Ad Valorem Assessments Comparison	
2024-2025	

Neighborhood	O&M Units	Bonds Units
2021	
Annual Maintenance Assessments	
Annual Debt Assessments	
Total Assessed Per Unit	
	
FY 2025	
FY2024	Increase/ (decrease)	
FY 2025	
FY2024	Increase/ (decrease)	
FY 2025	
FY2024	Increase/ (decrease)	

Single Family	

32	

32	

$442.11	

$442.11	

$0.00	

$1,719.49	

$1,719.49	

$0.00	

$2,161.60	

$2,161.60	

$0.00	
Townhomes	153	153	$442.11	$442.11	$0.00	$1,461.58	$1,461.58	$0.00	$1,903.69	$1,903.69	$0.00	
Villas	140	140	$442.11	$442.11	$0.00	$1,358.40	$1,358.40	$0.00	$1,800.51	$1,800.51	$0.00	
Total	325	325										

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