Westside
Community Development District

Adopted Budget Fiscal Year 2020

Presented by:

Westside
Community Development District

Table of Contents

1

2-8

9

10-11

12

13-14

15

16-17

18

19

20-21

22

23

 	General Fund

 	General Fund Narrative

 	Series 2005-1 and 2005-2 Debt Service

 	Series 2005-1 and 2005-2 Amortization Schedules 

 	Series 2007-1 and 2007-2 Debt Service

 	Series 2007-1 and 2007-2 Amortization Schedules 

 	Series 2018 Debt Service

 	Series 2018 Amortization

 	Allocation Methodology - Series 2018

 	Series 2019 Debt Service

 	Series 2019 Amortization

 	Allocation Methodology - Series 2019

 	Capital Reserve Fund

Westside
Community Development District
General Fund
Fiscal Year 2020	
	ADOPTED	ACTUAL	PROJECTED	TOTAL	ADOPTED	
	BUDGET	THRU	NEXT	PROJECTED	BUDGET	
	FY 2019	06/30/19	3 MONTHS	9/30/19	FY 2020	

REVENUES:						
Maintenance Assessments	$681,730	$661,884	$19,846	$681,730	$589,434	
Maintenance Assessments - West Lucaya	$0	$2,829	$0	$2,829	$0	
Interest Income	$5,000	$10,015	$3,000	$13,015	$5,000	
Carry Forward Balance	$0	$0	$0	$0	$128,004	
TOTAL REVENUES	$686,730	$674,729	$22,846	$697,575	$722,437	

EXPENDITURES:						
Administrative:						
Supervisor Fees	$12,000	$2,400	$3,000	$5,400	$12,000	
FICA Expense	$918	$184	$225	$409	$918	
Engineering Fees	$10,500	$1,419	$1,000	$2,419	$10,500	
Legal Services	$40,000	$12,839	$8,000	$20,839	$40,000	
Arbitrage	$1,350	$900	$1,000	$1,900	$3,250	
Management Fees	$39,784	$29,838	$9,946	$39,784	$40,978	
Information Technology	$1,000	$750	$250	$1,000	$2,200	
Dissemination	$9,500	$9,208	$1,750	$10,958	$16,500	
Trustee Fee	$6,000	$3,717	$5,475	$9,192	$14,667	
Assessment Roll Services	$5,000	$5,000	$0	$5,000	$10,000	
Auditing Services	$3,975	$3,825	$0	$3,825	$3,975	
Telephone	$100	$23	$20	$43	$100	
Postage	$2,250	$1,107	$1,144	$2,250	$2,250	
Insurance - General Liability	$8,600	$7,736	$0	$7,736	$8,600	
Printing and Binding	$1,500	$673	$827	$1,500	$1,500	
Legal Advertising	$1,800	$1,076	$724	$1,800	$1,800	
Miscellaneous Services	$1,250	$588	$80	$668	$1,250	
Office Supplies	$400	$61	$30	$91	$400	
Property Appraiser's Fee	$600	$555	$0	$555	$600	
Property Taxes	$10	$4	$0	$4	$10	
Dues, Licenses & Subscriptions	$175	$175	$0	$175	$175	
Settlement Agreement Payment	$50,000	$53,750	$0	$53,750	$50,000	
TOTAL ADMINISTRATIVE	$196,712	$135,828	$33,470	$169,298	$221,673	

Maintenance:						
Landscape Maintenance	$163,170	$113,963	$37,988	$151,950	$181,110	
Irrigation Repairs	$15,000	$2,578	$3,750	$6,328	$15,000	
Plant Replacement	$30,000	$0	$7,500	$7,500	$30,000	
Electric	$1,500	$232	$75	$307	$1,500	
Streetlighting	$73,000	$39,508	$13,200	$52,708	$73,000	
Irrigation Water	$58,000	$26,491	$900	$27,391	$58,000	
Property Insurance	$1,100	$923	$0	$923	$1,100	
Field Management	$18,566	$13,925	$4,642	$18,566	$19,123	
Lake & Wetland Maintenance	$22,800	$8,400	$3,300	$11,700	$22,800	
Misc. Contingency	$30,000	$5,558	$7,500	$13,058	$30,000	
Stormwater/Lake Repair	$15,000	$0	$3,750	$3,750	$15,000	
TOTAL MAINTENANCE	$428,136	$211,577	$82,604	$294,181	$446,633	
						
TOTAL EXPENDITURES	$624,848	$347,405	$116,074	$463,479	$668,306	

Other Sources/(Uses)						
Transfer Out - Capital Reserve	($61,883)	$0	($61,883)	($61,883)	($54,132)	
SUBTOTAL OTHER SOURCES/(USES)	($61,883)	$0	($61,883)	($61,883)	($54,132)	
						
EXCESS REVENUES (EXPENDITURES)	$0	$327,324	($155,111)	$172,213	$0	
		
FY2017	
FY2018	
FY2019	
FY2020	
	Net Assessments	$681,730	$681,730	$681,730	$589,434	
Add: Discounts & Collections 		$43,515		$43,515		$43,515		$37,623	 Gross Assessments 	$725,245	$725,245	$725,245	$627,057	

Units 	4720	4609	4609	3985		
Per Unit Assessment	$154	$157	$157	$157	

Net Assessments	
$681,730	
$681,730	
$681,730	
$589,434	
Total Developable Units 	4720	4609	4609	3985	 Total Net Assessments 	$144	$148	$148	$148	

1	

REVENUES

Maintenance Assessments

The District will levy a Non-Ad Valorem assessment on all the assessable property within the District in order to pay for the operating expenditures during the Fiscal Year.
Interest Income

The District earns interest income on their checking account with SunTrust Bank. Interest is calculated on the average monthly collected balance in the operating.

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 5 supervisors attending 12 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, Hanson, Walter & Associates, 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.
Legal Services

The District's legal counsel, Latham, Shuker, Eden & Beaudine, will provide general legal services to the District, i.e. attendance and preparation for monthly meetings, review of operating and maintenance contracts, and other specifically requested assignments.

Arbitrage

The District has contracted with AMTEC, an independent certified public accountant, to annually calculate the District’s Arbitrage Rebate Liability on the Series 2005, 2007, 2018, 2019 and the anticipated 2019 Special Assessment Revenue Bonds.
Management Fees

The District has contracted with Governmental Management Services-Central Florida, LLC to provide Management, Accounting and Recording Secretary Services for the District. The services include, but not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reporting, annual audits, etc.
Information Technology

Represents costs related to the District’s accounting and information systems, District’s website creation and maintenance, electronic compliance with Florida Statutes and other electronic data requirements.
Dissemination

The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(5) which relates to additional report requirements for unrated bond issues. The District has contracted with Lerner Reporting Services, Inc. to provide this service and the amount is based upon this contract. Governmental Management Services-Central Florida LLC provides this service for Debt Service Series 2018, Series 2019 and the anticipated Series 2019.
Trustee Fee

The District will pay annual fees for Series 2005, 2007, 2018, 2019 and the anticipated 2019 Special Assessment Revenue Bonds that are deposited with a Trustee at US Bank, N.A.
Assessment Roll Services

The District has contracted with Governmental Management Services-Central Florida, LLC for the collection of prepaid assessments, updating the District’s Tax Roll and levying the annual assessment.

Auditing Services

The District is required to conduct an annual audit of its financial records by an Independent Certified Public Accounting Firm. The District has hired Berger, Toombs, Elam, Gaines & Frank.
Telephone
Telephone and fax machine expenses. Postage
Represents postage cost used for District mailings including agenda packages, vendor checks and other correspondence.
Insurance – General Liability

The District’s general liability and public official’s liability insurance coverage is provided by the Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.
Printing and Binding

Includes copy charges for printing of agenda packages, required mailings, and other special projects.
Legal Advertising

The District is required to advertise various notices for monthly Board meetings and other public hearings in a newspaper of general circulation.
Miscellaneous Services
Bank charges and any other miscellaneous charges incurred by the District. Office Supplies
Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects.

Property Appraiser’s Fee

Represents a fee charged by Osceola County Property Appraiser’s office for assessment administration services.
Property Taxes

Represents the estimated Non-Ad Valorem assessments on District property levied by Osceola County.
Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Department of Economic Opportunity for $175. This is the only anticipated expenditure for this category.
Settlement Agreement Payment

Represents amount due on November 15, 2020 to JR. Davis Construction Company, Inc. per the Settlement Agreement dated November 10, 2014. The remaining two payments are as follow:
November 1, 2019	$50,000
November 1, 2020	$25,000

MAINTENANCE:

Landscape Maintenance

The District currently has a contract to maintain the landscaping starting at US 192 South to Goodman Road / Florence Villa Grove Road intersection within the District, including: General (mowing, edging, trimming, weeding, pruning and maintenance), irrigation inspection, fertilization, Solara pond mowings and pest control services. The District has contracted with Yellowstone Landscape. Down To Earth (DTE) to provide same services to exterior landscape as part of Landscape Cost Share with Windsor at Westside CDD.

Description	Monthly
Amount	Annual
Amount	
Landscape Maintenance - Yellowstone	$12,662	$151,950	
Exterior Landscape& Irrigation - DTE	$935	$11,220	
Solara Phase 2 Pond Mowing - Yellowstone	$320	$3,840	
Roadway Extension - Yellowstone	$1,175	$14,100	
Total		$181,110	

Irrigation Repairs

The District pays Yellowstone Landscape for various repairs/replacements to the irrigation systems that include but are not limited to spray heads, nozzles, rotors, controllers, etc. any increase in amount is based on proposal by Yellowstone Landscape.
Plant Replacement

Represents costs for maintenance of tree, shrub and other plant material replacements. Amount includes an enhancement proposal by Yellowstone Landscape.

Electric

The District has the following utility account(s) with Duke Energy to provide electricity for the common areas.

Account #	
Address	Estimated Monthly Amount	Estimated Annual Amount	
15704 70086	9000 W Irlo Bronson Memorial Hwy	$100	$1,200	
	Contingency	$25	$300	
Total			$1,500	
Streetlights

The District maintains the following streetlights with Duke Energy along Westside Boulevard.

Account #	
Address	Estimated Monthly Amount	Estimated Annual Amount	
09047 36125	000 Westside Blvd Lite, Entrance	$4,412	$52,944	
	Contingency - Streetlight Additions		$20,056	
Total			$73,000	

Irrigation Water

The District has the following utility accounts with Toho Water Authority for reclaimed water.

Account #	

Address	Estimated Monthly Amount	Estimated Annual Amount	
2118575-920460	0 Westside Blvd Reclaim D	$2,094	$25,132	
2118575-1129340	0 Westside Blvd Reclaim	$2,610	$31,316	
2118575-1124768	2400 Blk Even Westside Blvd	$21	$252	
	Contingency		$1,300	
Total			$58,000	
Property Insurance

The District’s property insurance coverage is provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.
Field Management

Provide onsite field management of contracts for District services such as landscape and lake maintenance. Services to include weekly site inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and respond to property owner phone calls and emails.
Lake and Wetland Maintenance

The District has a permit obligation to comply with certain conditions for the establishment and maintenance and monitoring of upland/wetland conservation areas and for maintenance of the lakes. The amount is based on current contracts with Aquatic Weed Management and Bio-tech Consulting Inc.

Monthly	Annual
Description	Amount	Amount	
Stormwater Pond Plant Management	$600 Mitigation Maintenance

Total	$7,200
$15,600	
	$22,800	

Miscellaneous Contingency
Any other miscellaneous charges incurred by the District. Stormwater/Lake Repair
Represents contingency for potential repairs to stormwater system. Transfer Out - Capital Reserve
Estimated funds to be transferred to the Capital Projects funds for any capital outlay expenses.

Westside  Community Development District

Debt Service Fund
Series 2005-1 and Series 2005-2
Fiscal Year 2020

	ADOPTED
BUDGET	ADOPTED
BUDGET	
	FY 2019	FY 2020	

REVENUES:			
Assessments - Series 2005-1	$1,214,786	$607,104	
Assessments - Series 2005-2	$0	$180,010	
Carry Forward Surplus	$8,559	$256,227	

TOTAL REVENUES	 	$1,223,345	$1,043,341 

EXPENDITURES:		
Series 2005/2005-1
Interest - 11/1	
$399,173	
$192,806	
Interest - 5/1	$399,173	$192,806	
Principal - 5/1	$425,000	$225,000	
Series 2005-2
Interest - 11/1	
$0	
$63,421	
Interest - 5/1	$0	$63,421	
Principal - 5/1	$0	$75,000	
TOTAL EXPENDITURES	 	$1,223,345	$812,455 	
EXCESS REVENUES/(EXPENDITURES)	 	$0	$230,886 	
Series 2005-1 November 1st Interest Payment	$186,450	
Series 2005-2 November 1st Interest Payment	 	$61,303 	
Total	 	$247,753 	

Date	Balance	Rate	Principal	Interest	Annual

11/1/19	$	6,825,000	5.65%		192,806.25	$	335,696	
5/1/20	$	6,825,000	5.65%	225,000	192,806.25	$	-	
11/1/20	$	6,600,000	5.65%		186,450.00	$	604,256	
5/1/21	$	6,600,000	5.65%	235,000	186,450.00	$	-	
11/1/21	$	6,365,000	5.65%		179,811.25	$	601,261	
5/1/22	$	6,365,000	5.65%	250,000	179,811.25	$	-	
11/1/22	$	6,115,000	5.65%		172,748.75	$	602,560	
5/1/23	$	6,115,000	5.65%	270,000	172,748.75	$	-	
11/1/23	$	5,845,000	5.65%		165,121.25	$	607,870	
5/1/24	$	5,845,000	5.65%	285,000	165,121.25	$	-	
11/1/24	$	5,560,000	5.65%		157,070.00	$	607,191	
5/1/25	$	5,560,000	5.65%	295,000	157,070.00	$	-	
11/1/25	$	5,265,000	5.65%		148,736.25	$	600,806	
5/1/26	$	5,265,000	5.65%	315,000	148,736.25	$	-	
11/1/26	$	4,950,000	5.65%		139,837.50	$	603,574	
5/1/27	$	4,950,000	5.65%	335,000	139,837.50	$	-	
11/1/27	$	4,615,000	5.65%		130,373.75	$	605,211	
5/1/28	$	4,615,000	5.65%	355,000	130,373.75	$	-	
11/1/28	$	4,260,000	5.65%		120,345.00	$	605,719	
5/1/29	$	4,260,000	5.65%	370,000	120,345.00	$	-	
11/1/29	$	3,890,000	5.65%		109,892.50	$	600,238	
5/1/30	$	3,890,000	5.65%	395,000	109,892.50	$	-	
11/1/30	$	3,495,000	5.65%		98,733.75	$	603,626	
5/1/31	$	3,495,000	5.65%	420,000	98,733.75	$	-	
11/1/31	$	3,075,000	5.65%		86,868.75	$	605,603	
5/1/32	$	3,075,000	5.65%	445,000	86,868.75	$	-	
11/1/32	$	2,630,000	5.65%		74,297.50	$	606,166	
5/1/33	$	2,630,000	5.65%	470,000	74,297.50	$	-	
11/1/33	$	2,160,000	5.65%		61,020.00	$	605,318	
5/1/34	$	2,160,000	5.65%	495,000	61,020.00	$	-	
11/1/34	$	1,665,000	5.65%		47,036.25	$	603,056	
5/1/35	$	1,665,000	5.65%	525,000	47,036.25	$	-	
11/1/35	$	1,140,000	5.65%		32,205.00	$	604,241	
5/1/36	$	1,140,000	5.65%	555,000	32,205.00	$	-	
11/1/36	$	585,000	5.65%		16,526.25	$	603,731	
5/1/37	$	585,000	5.65%	585,000	16,526.25	$	601,526	
Totals			6,945,000	$	4,262,650	$	11,207,650	

Date	Balance	Rate	Principal	Interest	Annual

11/1/19	$	2,245,000	5.65%		63,421.25	$	110,952	
5/1/20	$	2,245,000	5.65%	75,000	63,421.25	$	-	
11/1/20	$	2,170,000	5.65%		61,302.50	$	199,724	
5/1/21	$	2,170,000	5.65%	80,000	61,302.50	$	-	
11/1/21	$	2,090,000	5.65%		59,042.50	$	200,345	
5/1/22	$	2,090,000	5.65%	85,000	59,042.50	$	-	
11/1/22	$	2,005,000	5.65%		56,641.25	$	200,684	
5/1/23	$	2,005,000	5.65%	85,000	56,641.25	$	-	
11/1/23	$	1,920,000	5.65%		54,240.00	$	195,881	
5/1/24	$	1,920,000	5.65%	90,000	54,240.00	$	-	
11/1/24	$	1,830,000	5.65%		51,697.50	$	195,938	
5/1/25	$	1,830,000	5.65%	100,000	51,697.50	$	-	
11/1/25	$	1,730,000	5.65%		48,872.50	$	200,570	
5/1/26	$	1,730,000	5.65%	105,000	48,872.50	$	-	
11/1/26	$	1,625,000	5.65%		45,906.25	$	199,779	
5/1/27	$	1,625,000	5.65%	110,000	45,906.25	$	-	
11/1/27	$	1,515,000	5.65%		42,798.75	$	198,705	
5/1/28	$	1,515,000	5.65%	115,000	42,798.75	$	-	
11/1/28	$	1,400,000	5.65%		39,550.00	$	197,349	
5/1/29	$	1,400,000	5.65%	125,000	39,550.00	$	-	
11/1/29	$	1,275,000	5.65%		36,018.75	$	200,569	
5/1/30	$	1,275,000	5.65%	130,000	36,018.75	$	-	
11/1/30	$	1,145,000	5.65%		32,346.25	$	198,365	
5/1/31	$	1,145,000	5.65%	135,000	32,346.25	$	-	
11/1/31	$	1,010,000	5.65%		28,532.50	$	195,879	
5/1/32	$	1,010,000	5.65%	145,000	28,532.50	$	-	
11/1/32	$	865,000	5.65%		24,436.25	$	197,969	
5/1/33	$	865,000	5.65%	155,000	24,436.25	$	-	
11/1/33	$	710,000	5.65%		20,057.50	$	199,494	
5/1/34	$	710,000	5.65%	165,000	20,057.50	$	-	
11/1/34	$	545,000	5.65%		15,396.25	$	200,454	
5/1/35	$	545,000	5.65%	170,000	15,396.25	$	-	
11/1/35	$	375,000	5.65%		10,593.75	$	195,990	
5/1/36	$	375,000	5.65%	180,000	10,593.75	$	-	
11/1/36	$	195,000	5.65%		5,508.75	$	196,103	
5/1/37	$	195,000	5.65%	195,000	5,508.75	$	200,509	
Totals			2,285,000	$	1,400,256	$	3,685,256	

Westside Community Development District

Debt Service Fund
Series 2007-1 and Series 2007-2
Fiscal Year 2020

	ADOPTED
BUDGET	ADOPTED
BUDGET	
	FY 2019	FY 2020	

REVENUES:			
Assessments - Series 2007-1	$1,427,360	$630,086	
Assessments - Series 2007-2	$0	$63,724	
Carry Forward Surplus	$10,200	$260,100	

TOTAL REVENUES	 	$1,437,560	$953,909 

EXPENDITURES:		
Series 2007/2007-1
Interest - 11/1	
$543,780	
$234,720	
Interest - 5/1	$543,780	$234,720	
Principal - 5/1	$350,000	$170,000	
Series 2007-2
Interest - 11/1	
$0	
$25,380	
Interest - 5/1	$0	$25,380	
Principal - 5/1	$0	$15,000	

TOTAL EXPENDITURES	 	$1,437,560	$705,200 

EXCESS REVENUES/(EXPENDITURES)	 	$0	$248,709 

Date	Balance	Rate	Principal	Interest	Annual

11/1/19	$	6,520,000	7.20%		234,720.00	$	352,482	
5/1/20	$	6,520,000	7.20%	170,000	234,720.00	$	-	
11/1/20	$	6,350,000	7.20%		228,600.00	$	633,320	
5/1/21	$	6,350,000	7.20%	180,000	228,600.00	$	-	
11/1/21	$	6,170,000	7.20%		222,120.00	$	630,720	
5/1/22	$	6,170,000	7.20%	190,000	222,120.00	$	-	
11/1/22	$	5,980,000	7.20%		215,280.00	$	627,400	
5/1/23	$	5,980,000	7.20%	210,000	215,280.00	$	-	
11/1/23	$	5,770,000	7.20%		207,720.00	$	633,000	
5/1/24	$	5,770,000	7.20%	220,000	207,720.00	$	-	
11/1/24	$	5,550,000	7.20%		199,800.00	$	627,520	
5/1/25	$	5,550,000	7.20%	240,000	199,800.00	$	-	
11/1/25	$	5,310,000	7.20%		191,160.00	$	630,960	
5/1/26	$	5,310,000	7.20%	260,000	191,160.00	$	-	
11/1/26	$	5,050,000	7.20%		181,800.00	$	632,960	
5/1/27	$	5,050,000	7.20%	275,000	181,800.00	$	-	
11/1/27	$	4,775,000	7.20%		171,900.00	$	628,700	
5/1/28	$	4,775,000	7.20%	300,000	171,900.00	$	-	
11/1/28	$	4,475,000	7.20%		161,100.00	$	633,000	
5/1/29	$	4,475,000	7.20%	315,000	161,100.00	$	-	
11/1/29	$	4,160,000	7.20%		149,760.00	$	625,860	
5/1/30	$	4,160,000	7.20%	345,000	149,760.00	$	-	
11/1/30	$	3,815,000	7.20%		137,340.00	$	632,100	
5/1/31	$	3,815,000	7.20%	365,000	137,340.00	$	-	
11/1/31	$	3,450,000	7.20%		124,200.00	$	626,540	
5/1/32	$	3,450,000	7.20%	390,000	124,200.00	$	-	
11/1/32	$	3,060,000	7.20%		110,160.00	$	624,360	
5/1/33	$	3,060,000	7.20%	425,000	110,160.00	$	-	
11/1/33	$	2,635,000	7.20%		94,860.00	$	630,020	
5/1/34	$	2,635,000	7.20%	455,000	94,860.00	$	-	
11/1/34	$	2,180,000	7.20%		78,480.00	$	628,340	
5/1/35	$	2,180,000	7.20%	485,000	78,480.00	$	-	
11/1/35	$	1,695,000	7.20%		61,020.00	$	624,500	
5/1/36	$	1,695,000	7.20%	525,000	61,020.00	$	-	
11/1/36	$	1,170,000	7.20%		42,120.00	$	628,140	
5/1/37	$	1,170,000	7.20%	560,000	42,120.00		
11/1/37	$	610,000	7.20%		21,960.00	$	624,080	
5/1/38	$	610,000	7.20%	610,000	21,960.00	$	631,960	
Totals			6,610,000	$	5,695,962	$	12,305,962	

Date	Balance	Rate	Principal	Interest	Annual

11/1/19	$	705,000	7.20%		25,380.00	$	38,383	
5/1/20	$	705,000	7.20%	15,000	25,380.00	$	-	
11/1/20	$	690,000	7.20%		24,840.00	$	65,220	
5/1/21	$	690,000	7.20%	20,000	24,840.00	$	-	
11/1/21	$	670,000	7.20%		24,120.00	$	68,960	
5/1/22	$	670,000	7.20%	20,000	24,120.00	$	-	
11/1/22	$	650,000	7.20%		23,400.00	$	67,520	
5/1/23	$	650,000	7.20%	20,000	23,400.00	$	-	
11/1/23	$	630,000	7.20%		22,680.00	$	66,080	
5/1/24	$	630,000	7.20%	25,000	22,680.00	$	-	
11/1/24	$	605,000	7.20%		21,780.00	$	69,460	
5/1/25	$	605,000	7.20%	25,000	21,780.00	$	-	
11/1/25	$	580,000	7.20%		20,880.00	$	67,660	
5/1/26	$	580,000	7.20%	25,000	20,880.00	$	-	
11/1/26	$	555,000	7.20%		19,980.00	$	65,860	
5/1/27	$	555,000	7.20%	30,000	19,980.00	$	-	
11/1/27	$	525,000	7.20%		18,900.00	$	68,880	
5/1/28	$	525,000	7.20%	30,000	18,900.00	$	-	
11/1/28	$	495,000	7.20%		17,820.00	$	66,720	
5/1/29	$	495,000	7.20%	35,000	17,820.00	$	-	
11/1/29	$	460,000	7.20%		16,560.00	$	69,380	
5/1/30	$	460,000	7.20%	35,000	16,560.00	$	-	
11/1/30	$	425,000	7.20%		15,300.00	$	66,860	
5/1/31	$	425,000	7.20%	40,000	15,300.00	$	-	
11/1/31	$	385,000	7.20%		13,860.00	$	69,160	
5/1/32	$	385,000	7.20%	45,000	13,860.00	$	-	
11/1/32	$	340,000	7.20%		12,240.00	$	71,100	
5/1/33	$	340,000	7.20%	45,000	12,240.00	$	-	
11/1/33	$	295,000	7.20%		10,620.00	$	67,860	
5/1/34	$	295,000	7.20%	50,000	10,620.00	$	-	
11/1/34	$	245,000	7.20%		8,820.00	$	69,440	
5/1/35	$	245,000	7.20%	55,000	8,820.00	$	-	
11/1/35	$	190,000	7.20%		6,840.00	$	70,660	
5/1/36	$	190,000	7.20%	60,000	6,840.00	$	-	
11/1/36	$	130,000	7.20%		4,680.00	$	71,520	
5/1/37	$	130,000	7.20%	65,000	4,680.00		
11/1/37	$	65,000	7.20%		2,340.00	$	72,020	
5/1/38	$	65,000	7.20%	65,000	2,340.00	$	67,340	
Totals			715,000	$	625,083	$	1,340,083	

Westside Community Development District

Debt Service Fund Series 2018
Fiscal Year 2020		
ADOPTED	ACTUAL	PROJECTED	TOTAL	ADOPTED	
BUDGET	THRU	NEXT	PROJECTED	BUDGET	
FY 2019	06/30/19	3 MONTHS	9/30/19	FY 2020	

REVENUES:						
Assessments	$230,130	$233,993	$0	$233,993	$230,130	
Interest	$0	$445	$120	$565	$0	
Carryforward Surplus (1)	$89,025	$89,305	$0	$89,305	$95,813	
TOTAL REVENUES	$319,155	$323,743	$120	$323,863	$325,943	

EXPENDITURES:						
Interest - 11/1	$89,025	$89,025	$0	$89,025	$87,775	
Interest - 5/1	$89,025	$89,025	$0	$89,025	$87,775	
Principal - 5/1	$50,000	$50,000	$0	$50,000	$55,000	
TOTAL EXPENDITURES	$228,050	$228,050	$0	$228,050	$230,550	
						
EXCESS REVENUES/(EXPENDITURES)	$91,105	$95,693	$120	$95,813	$95,393	
				
Interest - 11/1/2020	
$86,400	

(1) Carryforward Surplus is net of Debt Service Reserve Funds

Date

Balance

Principal

Interest

Annual

11/1/19	$	3,440,000	$	-	$	87,775.00	$	226,800	
5/1/20	$	3,440,000	$	55,000	$	87,775.00	$	-	
11/1/20	$	3,385,000	$	-	$	86,400.00	$	229,175	
5/1/21	$	3,385,000	$	55,000	$	86,400.00	$	-	
11/1/21	$	3,330,000	$	-	$	85,025.00	$	226,425	
5/1/22	$	3,330,000	$	60,000	$	85,025.00	$	-	
11/1/22	$	3,270,000	$	-	$	83,525.00	$	228,550	
5/1/23	$	3,270,000	$	60,000	$	83,525.00	$	-	
11/1/23	$	3,210,000	$	-	$	82,025.00	$	225,550	
5/1/24	$	3,210,000	$	65,000	$	82,025.00	$	-	
11/1/24	$	3,145,000	$	-	$	80,400.00	$	227,425	
5/1/25	$	3,145,000	$	70,000	$	80,400.00	$	-	
11/1/25	$	3,075,000	$	-	$	78,650.00	$	229,050	
5/1/26	$	3,075,000	$	70,000	$	78,650.00	$	-	
11/1/26	$	3,005,000	$	-	$	76,900.00	$	225,550	
5/1/27	$	3,005,000	$	75,000	$	76,900.00	$	-	
11/1/27	$	2,930,000	$	-	$	75,025.00	$	226,925	
5/1/28	$	2,930,000	$	80,000	$	75,025.00	$	-	
11/1/28	$	2,850,000	$	-	$	73,025.00	$	228,050	
5/1/29	$	2,850,000	$	85,000	$	73,025.00	$	-	
11/1/29	$	2,765,000	$	-	$	70,900.00	$	228,925	
5/1/30	$	2,765,000	$	90,000	$	70,900.00	$	-	
11/1/30	$	2,675,000	$	-	$	68,650.00	$	229,550	
5/1/31	$	2,675,000	$	95,000	$	68,650.00	$	-	
11/1/31	$	2,580,000	$	-	$	66,275.00	$	229,925	
5/1/32	$	2,580,000	$	100,000	$	66,275.00	$	-	
11/1/32	$	2,480,000	$	-	$	63,775.00	$	230,050	
5/1/33	$	2,480,000	$	105,000	$	63,775.00	$	-	
11/1/33	$	2,375,000	$	-	$	61,150.00	$	229,925	
5/1/34	$	2,375,000	$	110,000	$	61,150.00	$	-	
11/1/34	$	2,265,000	$	-	$	58,400.00	$	229,550	
5/1/35	$	2,265,000	$	115,000	$	58,400.00	$	-	
11/1/35	$	2,150,000	$	-	$	55,525.00	$	228,925	

Date	Balance	Principal	Interest	Annual

5/1/36	$	2,150,000	$	120,000	$	55,525.00	$	-	
11/1/36	$	2,030,000	$	-	$	52,525.00	$	228,050	
5/1/37	$	2,030,000	$	125,000	$	52,525.00	$	-	
11/1/37	$	1,905,000	$	-	$	49,400.00	$	226,925	
5/1/38	$	1,905,000	$	130,000	$	49,400.00	$	-	
11/1/38	$	1,775,000	$	-	$	46,150.00	$	225,550	
5/1/39	$	1,775,000	$	140,000	$	46,150.00	$	-	
11/1/39	$	1,635,000	$	-	$	42,510.00	$	228,660	
5/1/40	$	1,635,000	$	145,000	$	42,510.00	$	-	
11/1/40	$	1,490,000	$	-	$	38,740.00	$	226,250	
5/1/41	$	1,490,000	$	155,000	$	38,740.00	$	-	
11/1/41	$	1,335,000	$	-	$	34,710.00	$	228,450	
5/1/42	$	1,335,000	$	165,000	$	34,710.00	$	-	
11/1/42	$	1,170,000	$	-	$	30,420.00	$	230,130	
5/1/43	$	1,170,000	$	170,000	$	30,420.00	$	-	
11/1/43	$	1,000,000	$	-	$	26,000.00	$	226,420	
5/1/44	$	1,000,000	$	180,000	$	26,000.00	$	-	
11/1/44	$	820,000	$	-	$	21,320.00	$	227,320	
5/1/45	$	820,000	$	190,000	$	21,320.00	$	-	
11/1/45	$	630,000	$	-	$	16,380.00	$	227,700	
5/1/46	$	630,000	$	200,000	$	16,380.00	$	-	
11/1/46	$	430,000	$	-	$	11,180.00	$	227,560	
5/1/47	$	430,000	$	210,000	$	11,180.00	$	-	
11/1/47	$	220,000	$	-	$	5,720.00	$	226,900	
5/1/48	$	220,000	$	220,000	$	5,720.00	$	-	

11/1/48	$	-

$	-	$

-	$	225,720

Totals	$   3,490,000	$  3,466,663.33	$	6,956,663

WESTSIDE
COMMUNITY DEVELOPMENT DISTRICT SPECIAL ASSESSMENT REVENUE BONDS, SERIES 2018

PRODUCT	ALLOCATION METHODOLOGY - SERIES 2018 BONDS
For Solara Phase 1 Assessment Area

Allocation of Par	Maximum
Debt Per Product		Total Par	Annual Debt No. of Units	Type	Debt Per Unit		Service

76	$	757,829	$	9,971	$	49,971
92	$	1,009,109	$	10,969	$	66,540
144	$	1,723,062	$	11,966	$	113,618	

Net Annual Debt Assesssment Per Unit

$	658
$	723
$	789	

Gross Annual Debt  Assessment Per Unit (1)

$	699
$	769
$	839	
Townhomes				
Single Family 40'				
Single Family 50'				
TOTAL	312	$	3,490,000	$	230,129	

(1) This amount includes collection fees and early payment discounts when collected on the Osceola County Tax Bill
* Unit mix is subject to change based on market and other factors	

Westside Community Development District

Debt Service Fund Series 2019
Fiscal Year 2020

PROPOSED
BUDGET		ACTUAL
THRU	PROJECTED
NEXT	TOTAL
PROJECTED	ADOPTED
BUDGET	
FY 2019		06/30/19	3 MONTHS	9/30/19	FY 2020	

REVENUES:						
Bonds Proceeds	$0	$186,374	$0	$0	$0	
Assessments	$0	$0	$0	$0	$203,190	
Interest	$0	$89	$120	$209	$0	
Carryforward Surplus (1)	$0	$0	$0	$0	$84,779	
TOTAL REVENUES	$0	$186,463	$120	$209	$287,969	

EXPENDITURES:						
Interest - 11/1	$0	$0	$0	$0	$84,779	
Interest - 5/1	$0	$0	$0	$0	$73,721	
Principal - 5/1	$0	$0	$0	$0	$55,000	
TOTAL EXPENDITURES	$0	$0	$0	$0	$213,499	
						
EXCESS REVENUES/(EXPENDITURES)	$0	$186,463	$120	$209	$74,470	
				
Interest - 11/1/2020	
$72,724	

(1) Carryforward Surplus is net of Debt Service Reserve Funds						

Date

Balance

Principal

Interest

Annual

11/1/19	$ 3,230,000	$	-	$	84,779	$	84,779	
5/1/20	$ 3,230,000	$	55,000	$	73,721	$	-	
11/1/20	$ 3,175,000	$	-	$	72,724	$	201,444	
5/1/21	$ 3,175,000	$	55,000	$	72,724	$	-	
11/1/21	$ 3,120,000	$	-	$	71,727	$	199,451	
5/1/22	$ 3,120,000	$	60,000	$	71,727	$	-	
11/1/22	$ 3,060,000	$	-	$	70,639	$	202,366	
5/1/23	$ 3,060,000	$	60,000	$	70,639	$	-	
11/1/23	$ 3,000,000	$	-	$	69,552	$	200,191	
5/1/24	$ 2,935,000	$	65,000	$	69,552	$	-	
11/1/24	$ 2,935,000	$	-	$	68,374	$	202,926	
5/1/25	$ 2,935,000	$	65,000	$	68,374	$	-	
11/1/25	$ 2,870,000	$	-	$	67,106	$	200,480	
5/1/26	$ 2,870,000	$	70,000	$	67,106	$	-	
11/1/26	$ 2,800,000	$	-	$	65,741	$	202,848	
5/1/27	$ 2,800,000	$	70,000	$	65,741	$	-	
11/1/27	$ 2,730,000	$	-	$	64,376	$	200,118	
5/1/28	$ 2,730,000	$	75,000	$	64,376	$	-	
11/1/28	$ 2,655,000	$	-	$	62,914	$	202,290	
5/1/29	$ 2,580,000	$	75,000	$	62,914	$	-	
11/1/29	$ 2,580,000	$	-	$	61,451	$	199,365	
5/1/30	$ 2,580,000	$	80,000	$	61,451	$	-	
11/1/30	$ 2,500,000	$	-	$	59,601	$	201,053	
5/1/31	$ 2,500,000	$	85,000	$	59,601	$	-	
11/1/31	$ 2,415,000	$	-	$	57,636	$	202,237	
5/1/32	$ 2,415,000	$	90,000	$	57,636	$	-	
11/1/32	$ 2,325,000	$	-	$	55,554	$	203,190	
5/1/33	$ 2,325,000	$	90,000	$	55,554	$	-	
11/1/33	$ 2,235,000	$	-	$	53,473	$	199,028	
5/1/34	$ 2,235,000	$	95,000	$	53,473	$	-	
11/1/34	$ 2,140,000	$	-	$	51,276	$	199,749	
5/1/35	$ 2,140,000	$	100,000	$	51,276	$	-	
11/1/35	$ 2,040,000	$	-	$	48,964	$	200,240	
5/1/36	$ 2,040,000	$	105,000	$	48,964	$	-	
11/1/36	$ 1,935,000	$	-	$	46,536	$	200,499	
5/1/37	$ 1,935,000	$	110,000	$	46,536	$	-	
11/1/37	$ 1,825,000	$	-	$	43,992	$	200,528	
5/1/38	$ 1,825,000	$	115,000	$	43,992	$	-	

Date	Balance	Principal	Interest	Annual	

11/1/38	
$ 1,710,000	
$	-	$	41,333	
$	200,324	
5/1/39	$ 1,590,000	$	120,000	$	41,333	$	-	
11/1/39	$ 1,590,000	$	-	$	38,558	$	199,890	
5/1/40	$ 1,590,000	$	125,000	$	38,558	$	-	
11/1/40	$ 1,465,000	$	-	$	35,526	$	199,084	
5/1/41	$ 1,465,000	$	135,000	$	35,526	$	-	
11/1/41	$ 1,330,000	$	-	$	32,253	$	202,779	
5/1/42	$ 1,330,000	$	140,000	$	32,253	$	-	
11/1/42	$ 1,190,000	$	-	$	28,858	$	201,110	
5/1/43	$ 1,190,000	$	145,000	$	28,858	$	-	
11/1/43	$ 1,045,000	$	-	$	25,341	$	199,199	
5/1/44	$ 1,045,000	$	155,000	$	25,341	$	-	
11/1/44	$	890,000	$	-	$	21,583	$	201,924	
5/1/45	$	890,000	$	160,000	$	21,583	$	-	
11/1/45	$	730,000	$	-	$	17,703	$	199,285	
5/1/46	$	730,000	$	170,000	$	17,703	$	-	
11/1/46	$	560,000	$	-	$	13,580	$	201,283	
5/1/47	$	560,000	$	180,000	$	13,580	$	-	
11/1/47	$	380,000	$	-	$	9,215	$	202,795	
5/1/48	$	380,000	$	185,000	$	9,215	$	-	
11/1/48	$	195,000	$	-	$	4,729	$	198,944	
5/1/49	$	195,000	$	195,000	$	4,729	$	199,729	
Totals		$ 3,230,000	$ 2,879,124	$ 6,109,124	

WESTSIDE
COMMUNITY DEVELOPMENT DISTRICT SPECIAL ASSESSMENT REVENUE BONDS, SERIES 2019

PRODUCT	ALLOCATION METHODOLOGY - SERIES 2019 BONDS
For Solara Phase 2 Assessment Area

Allocation of Par	Maximum
Debt Per Product		Total Par	Annual Debt No. of Units	Type	Debt Per Unit		Service

86	$	895,487	$	12,495	$	56,507
122	$	1,397,376	$	11,454	$	88,189
75	$	937,137	$	10,413	$	59,150	

Net Annual Debt Assesssment Per Unit

$	657
$	723
$	789	

Gross Annual Debt  Assessment Per Unit (1)

$	699
$	769
$	839	
Townhomes				
Single Family 40'				
Single Family 50'				
TOTAL	283	$	3,230,000	$	203,846	

(1) This amount includes collection fees and early payment discounts when collected on the Osceola County Tax Bill
* Unit mix is subject to change based on market and other factors	

Westside
Community Development District
Capital Reserve Fund
Fiscal Year 2020

	ADOPTED
BUDGET	ACTUAL
THRU	PROJECTED
NEXT	TOTAL
PROJECTED	ADOPTED
BUDGET	
	FY 2019	06/30/19	3 MONTHS	09/30/19	FY 2020	

REVENUES:						
Beginning Fund Balance	$0	$299,094	$0	$299,094	$366,672	
Transfer In	$61,883	$0	$61,883	$61,883	$54,132	
Interest Income	$0	$5,695	$0	$5,695	$5,000	
TOTAL REVENUES	$61,883	$304,789	$61,883	$366,672	$425,803	

EXPENDITURES:						
Capital Outlay	$0	$0	$0	$0	$0	
TOTAL EXPENDITURES	$0	$0	$0	$0	$0	
						
EXCESS REVENUES/(EXPENDITURES)	$61,883	$304,789	$61,883	$366,672	$425,803