Westside
Community Development District

Adopted Budget Fiscal Year 2021

Presented by:

Table of Contents

1	 	General Fund	

2-8	
 	General Fund Narrative	

9	
 	Series 2005-1 and 2005-2 Debt Service	

10	 	Series 2007-1 and 2007-2 Debt Service	
11	 	Series 2018 - Solara Phase 1 Debt Service	
12-13	 	Series 2018 - Solara Phase 1 Amortization	
14	 	Series 2018 Solara Phase 1 - Allocation Methodology	
15	 	Series 2019 - Solara Phase 2 Debt Service	
16-17	 	Series 2019 - Solara Phase 2 Amortization	
18	 	Series 2019 - Solara Phase 2 Allocation Methodology	
19	 	Series 2019 - Refunding Debt Service	
20	 	Series 2019 - Refunding Amortization	
21	 	Series 2019 - Refunding Allocation Methodology	
22	 	Series 2019 - Parcel K Debt Service	
23-24	 	Series 2019 - Parcel K Amortization	
25	 	Series 2019 - Parcel K Allocation Methodology	
26	 	Capital Reserve Fund	

Westside
Community Development District
General Fund
Fiscal Year 2021	
	ADOPTED	ACTUAL	PROJECTED	TOTAL	ADOPTED	
	BUDGET	THRU	NEXT	PROJECTED	BUDGET	
	FY 2020	07/31/20	2 MONTHS	9/30/20	FY 2021	

REVENUES:						
Maintenance Assessments	$589,434	$605,629	$4,585	$610,214	$566,228	
Interest Income	$5,000	$6,169	$400	$6,569	$5,000	
Carry Forward Balance	$128,004	$1,029,029	$0	$1,029,029	$377,986	
TOTAL REVENUES	$722,437	$1,640,826	$4,985	$1,645,812	$949,214	

EXPENDITURES:						
Administrative:						
Supervisor Fees	$12,000	$2,200	$2,000	$4,200	$12,000	
FICA Expense	$918	$168	$153	$321	$918	
Engineering Fees	$10,500	$3,884	$1,750	$5,634	$10,500	
Legal Services	$40,000	$17,016	$6,000	$23,016	$40,000	
Arbitrage	$3,250	$900	$2,350	$3,250	$3,250	
Management Fees	$40,978	$34,148	$6,830	$40,978	$42,207	
Information Technology	$2,200	$3,108	$167	$3,275	$2,200	
Dissemination	$16,500	$16,792	$2,333	$19,125	$20,000	
Trustee Fee	$14,667	$3,717	$10,950	$14,667	$20,142	
Assessment Roll Services	$10,000	$10,000	$0	$10,000	$12,500	
Auditing Services	$3,975	$3,825	$0	$3,825	$3,875	
Telephone	$100	$7	$17	$24	$100	
Postage	$2,250	$752	$375	$1,127	$2,250	
Insurance - General Liability	$8,600	$7,929	$0	$7,929	$8,750	
Printing and Binding	$1,500	$368	$250	$618	$1,500	
Legal Advertising	$1,800	$2,218	$1,000	$3,218	$1,800	
Miscellaneous Services	$1,250	$2,043	$208	$2,251	$1,250	
Office Supplies	$400	$54	$67	$121	$400	
Property Appraiser's Fee	$600	$633	$0	$633	$700	
Property Taxes	$10	$466	$0	$466	$10	
Dues, Licenses & Subscriptions	$175	$175	$0	$175	$175	
Settlement Agreement Payment	$50,000	$50,000	$0	$50,000	$25,000	
TOTAL ADMINISTRATIVE	$221,673	$160,405	$34,449	$194,854	$209,527	

Maintenance:						
Landscape Maintenance	$181,110	$135,540	$33,315	$168,855	$212,490	
Irrigation Repairs	$15,000	$14,553	$447	$15,000	$15,000	
Plant Replacement	$30,000	$4,119	$5,000	$9,119	$30,000	
Electric	$1,500	$268	$70	$338	$1,500	
Streetlighting	$73,000	$43,290	$9,000	$52,290	$73,000	
Irrigation Water	$58,000	$19,944	$3,200	$23,144	$58,000	
Property Insurance	$1,100	$949	$0	$949	$5,000	
Field Management	$19,123	$15,936	$3,187	$19,123	$19,697	
Lake & Wetland Maintenance	$22,800	$9,250	$5,850	$15,100	$30,000	
Sidewalk Repairs & Maintenance	$0	$0	$2,100	$2,100	$4,000	
Misc. Contingency	$30,000	$9,966	$5,000	$14,966	$26,000	
Stormwater/Lake Repair	$15,000	$980	$2,500	$3,480	$15,000	
TOTAL MAINTENANCE	$446,633	$254,795	$69,669	$324,464	$489,687	
						
TOTAL EXPENDITURES	$668,306	$415,200	$104,118	$519,319	$699,214	

Other Sources/(Uses)						
Transfer Out - Capital Reserve	($54,132)	($400,000)	$0	($400,000)	($250,000)	
SUBTOTAL OTHER SOURCES/(USES)	($54,132)	($400,000)	$0	($400,000)	($250,000)	
						
EXCESS REVENUES (EXPENDITURES)	$0	$825,626	($99,133)	$726,493	$0	
		
FY2018	
FY2019	
FY2020	
FY2021	
	Net Assessments	$681,730	$681,730	$589,434	$566,228	
Add: Discounts & Collections 		$43,515		$43,515		$37,623		$36,142	 Gross Assessments 	$725,245	$725,245	$627,057	$602,370	

Units 	4609	4609	3985	3828.11		
Per Unit Gross Assessment	$157	$157	$157	$157	

Net Assessments	
$681,730	
$681,730	
$589,434	
$566,228	
Total Developable Units 	4609	4609	3985	3828.11	 Per Unit Net Assessments 	$148	$148	$148		$148	

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 2019 Refunding 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 for the Series 2005 and 2007 bonds. Governmental Management Services-Central Florida LLC provides this service for Debt Service Series 2018, Series 2019, Series 2019 Refunding and Series 2019 Parcel K.
Trustee Fee

The District will pay annual fees for Series 2005, 2007, 2018, 2019, 2019 Refunding and 2019 Parcel K 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, 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 and Exclusive Landscaping.

Description	Monthly
Amount	Annual
Amount	
Original Agreement – Yellowstone	$7,108	$85,290	
Solara Ponds - Yellowstone	$1,025	$12,300	
Solara Phase 1 - Yellowstone	$4,530	$54,360	
Solara Phase 2 – Yellowstone	$3,575	$42,900	
South Goodman & Monaco - Exclusive	$820	$9,840	
Phase 3 Pond – Exclusive	$650	$7,800	
Total		$212,490	

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	$1,075 Mitigation Maintenance

Total	$12,900
$17,100	
	$30,000	

Sidewalk Repairs & Maintenance

Any costs related to the maintenance of the District’s sidewalks which includes grinding and pressure washing.
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 2021

	ADOPTED
BUDGET	ACTUAL
THRU	PROJECTED
NEXT	TOTAL
PROJECTED	ADOPTED
BUDGET	
	FY 2020	07/31/20	2 MONTHS	9/30/20	FY 2021	

REVENUES:						
Assessments - Series 2005-1	$607,104	$0	$0	$0	$0	
Assessments - Series 2005-2	$180,010	$110,920	$0	$110,920	$180,010	
Prepayments	$0	$629,152	$0	$629,152	$0	
Interest	$0	$586	$10	$596	$0	
Carry Forward Surplus	$256,227	$55,538	$0	$55,538	$107,688	
TOTAL REVENUES	$1,043,341	$796,197	$10	$796,207	$287,698	

EXPENDITURES:						
Series 2005/2005-1
Debt Service Obligation	
$610,613	
$0	
$0	
$0	
$0	
Series 2005-2
Debt Service Obligation	
$201,483	
$63,421	
$0	
$63,421	
$110,964	
Special Call - 5/1	$0	$625,000	$0	$625,000	$0	
TOTAL EXPENDITURES	$812,095	$688,421	$0	$688,421	$110,964	

OTHER FINANCING SOURCES:						
Transfer In (Out)	$0	($97)	$0	($97)	$0	
TOTAL OTHER FINANCING SOURCES (USES)	$0	($97)	$0	($97)	$0	
						
EXCESS REVENUES/(EXPENDITURES)	$231,246	$107,678	$10	$107,688	$176,735	

Westside  Community Development District

Debt Service Fund
Series 2007-1 and Series 2007-2
Fiscal Year 2021

	ADOPTED
BUDGET	ACTUAL
THRU	PROJECTED
NEXT		TOTAL
PROJECTED	ADOPTED
BUDGET	
	FY 2020	07/31/20	2 MONTHS		9/30/20	FY 2021	

REVENUES:							
Assessments - Series 2007-1	$630,086	$0		$0	$0	$0	
Assessments - Series 2007-2	$63,724	$39,266		$0	$39,266	$63,724	
Prepayments	$0	$187,929		$0	$187,929	$0	
Interest	$0	$280		$5	$285	$0	
Carry Forward Surplus	$260,100	$24,344		$0	$24,344	$41,321	

TOTAL REVENUES	 	$953,909	$251,818	$5	$251,823	$105,045 

EXPENDITURES:		
Series 2007/2007-1
Debt Service Obligation	
$639,440	
$0	
$0	
$0	
$0	
Series 2007-2
Interest - 11/1	
$65,760	
$25,380	
$0	
$25,380	
$39,800	
Special Call - 5/1	$0	$185,000	$0	$185,000	$0	

TOTAL EXPENDITURES	 	$705,200	$210,380	$0	$210,380	$39,800 

OTHER FINANCING SOURCES:

Transfer In (Out)	$0	($122)	$0	($122)	$0

TOTAL OTHER FINANCING SOURCES (USES)	 		$0		($122)	$0		($122)		$0 EXCESS REVENUES/(EXPENDITURES)	 	$248,709	$41,316	$5	$41,321	$65,245 

Westside Community Development District

Debt Service Fund Series 2018 - Solara Phase 1
Fiscal Year 2021

	ADOPTED
BUDGET	ACTUAL
THRU	PROJECTED
NEXT	TOTAL
PROJECTED	ADOPTED
BUDGET	
	FY 2020	07/31/20	2 MONTHS	9/30/20	FY 2021	

REVENUES:						
Assessments	$230,130	$233,352	$0	$233,352	$230,130	
Interest	$0	$157	$10	$167	$0	
Carryforward Surplus (1)	$95,813	$97,445	$0	$97,445	$100,415	
TOTAL REVENUES	$325,943	$330,955	$10	$330,965	$330,545	

EXPENDITURES:						
Interest - 11/1	$87,775	$87,775	$0	$87,775	$	86,400	
Interest - 5/1	$87,775	$87,775	$0	$87,775	$	86,400	
Principal - 5/1	$55,000	$55,000	$0	$55,000	$	55,000	
TOTAL EXPENDITURES	$230,550	$230,550	$0	$230,550	$	227,800	
						
EXCESS REVENUES/(EXPENDITURES)	$95,393	$100,405	$10	$100,415	$	102,745	
				
Interest - 11/1/2021	
$	85,025	
(1) Carryforward Surplus is net of Debt Service	Reserve Funds					

Date

Balance

Principal

Interest

Annual

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	$   3,385,000	$	3,081,410	$	6,609,185

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 - Solara Phase 2
Fiscal Year 2021

	ADOPTED
BUDGET	ACTUAL
THRU	PROJECTED
NEXT	TOTAL
PROJECTED	ADOPTED
BUDGET	
	FY 2020	07/31/20	2 MONTHS	9/30/20	FY 2021	

REVENUES:						
Bonds Proceeds	$0	$0	$0	$0	$0	
Assessments	$203,190	$203,925	$0	$203,925	$203,846	
Interest	$0	$190	$10	$200	$0	
Carryforward Surplus (1)	$84,779	$84,985	$0	$84,985	$75,610	
TOTAL REVENUES	$287,969	$289,099	$10	$289,109	$279,456	

EXPENDITURES:						
Interest - 11/1	$84,779	$84,779	$0	$84,779	$72,724	
Interest - 5/1	$73,721	$73,721	$0	$73,721	$72,724	
Principal - 5/1	$55,000	$55,000	$0	$55,000	$55,000	
TOTAL EXPENDITURES	$213,499	$213,499	$0	$213,499	$200,448	
						
EXCESS REVENUES/(EXPENDITURES)	$74,470	$75,600	$10	$75,610	$79,008	
				
Interest - 11/1/2021	
$71,727	

Carryforward Surplus is net of Debt Service Reserve Funds

Date

Balance

Principal

Interest

Annual

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		$ 3,175,000	$ 2,720,625	$ 6,024,346	

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

Debt Service Fund Series 2019 - Refunding Bonds
Fiscal Year 2021

	ADOPTED
BUDGET	ACTUAL
THRU	PROJECTED
NEXT	TOTAL
PROJECTED	ADOPTED
BUDGET	
	FY 2020	07/31/20	2 MONTHS	9/30/20	FY 2021	

REVENUES:						
Assessments	$1,247,197	$1,228,880	$18,318	$1,247,197	$1,007,205	
Interest	$461	$451	$10	$461	$0	
Carryforward Surplus (1)	$135,757	$135,757	$0	$135,757	$499,671	
TOTAL REVENUES	$1,383,416	$1,365,088	$18,328	$1,383,416	$1,506,877	

EXPENDITURES:						
Interest - 11/1	$43,944	$43,944	$0	$43,944	$246,407	
Interest - 5/1	$255,157	$255,157	$0	$255,157	$246,407	
Principal - 5/1	$500,000	$500,000	$0	$500,000	$520,000	
Capital Outlay - Cost of Issuance	$84,875	$84,875	$0	$84,875	$0	
TOTAL EXPENDITURES	$883,976	$883,976	$0	$883,976	$1,012,814	

OTHER FINANCING SOURCES:						
Transfer In (Out)	$231	$231	$0	$231	$0	
TOTAL OTHER FINANCING SOURCES (USES)	$231	$231	$0	$231	$0	
						
EXCESS REVENUES/(EXPENDITURES)	$499,671	$481,343	$18,328	$499,671	$494,063	
				
Interest - 11/1/2021	
$237,307	

Carryforward Surplus is net of Debt Service Reserve Funds

Westside Community Development District Series 2019 - Special Assessment Refunding Bonds
Amortization Schedule

Date	Principal	Interest	Annual

11/1/20	$	-	$	246,407	$ 1,001,564	
5/1/21	$	520,000	$	246,407	$	-	
11/1/21	$	-	$	237,307	$ 1,003,714	
5/1/22	$	540,000	$	237,307	$	-	
11/1/22	$	-	$	227,857	$ 1,005,164	
5/1/23	$	560,000	$	227,857	$	-	
11/1/23	$	-	$	218,057	$ 1,005,914	
5/1/24	$	575,000	$	218,057	$	-	
11/1/24	$	-	$	207,994	$ 1,001,051	
5/1/25	$	595,000	$	207,994	$	-	
11/1/25	$	-	$	196,838	$	999,833	
5/1/26	$	625,000	$	196,838	$	-	
11/1/26	$	-	$	185,119	$ 1,006,958	
5/1/27	$	645,000	$	185,119	$	-	
11/1/27	$	-	$	173,026	$ 1,003,145	
5/1/28	$	670,000	$	173,026	$	-	
11/1/28	$	-	$	160,463	$ 1,003,489	
5/1/29	$	695,000	$	160,463	$	-	
11/1/29	$	-	$	147,432	$ 1,002,895	
5/1/30	$	725,000	$	147,432	$	-	
11/1/30	$	-	$	132,528	$ 1,004,959	
5/1/31	$	755,000	$	132,528	$	-	
11/1/31	$	-	$	117,006	$ 1,004,534	
5/1/32	$	785,000	$	117,006	$	-	
11/1/32	$	-	$	100,868	$ 1,002,874	
5/1/33	$	820,000	$	100,868	$	-	
11/1/33	$	-	$	84,011	$ 1,004,879	
5/1/34	$	850,000	$	84,011	$	-	
11/1/34	$	-	$	66,536	$ 1,000,547	
5/1/35	$	885,000	$	66,536	$	-	
11/1/35	$	-	$	48,343	$	999,879	
5/1/36	$	925,000	$	48,343	$	-	
11/1/36	$	-	$	29,326	$ 1,002,669	
5/1/37	$	960,000	$	29,326	$	-	
11/1/37	$	-	$	9,591	$	998,917	
5/1/38	$	465,000	$	9,591	$	-	

11/1/38

$	-	$

-	$	474,591

Totals	$ 12,595,000	$   5,177,416	$ 18,527,573

WESTSIDE
COMMUNITY DEVELOPMENT DISTRICT
SPECIAL ASSESSMENT REVENUE REFUNDING BONDS, SERIES 2019

		ALLOCATION METHODOLOGY - SERIES 2019 BONDS			
		Refunding Bonds			
			
Net Annual	
Gross Annual	
		Par Debt Per	Debt	Debt	
		Par Debt Per Unit	Par Debt Per Unit	Unit	Assesssment	Assessment Per	
PRODUCT	No. of Units	2005-1	2007-1	Combined	Per Unit	Unit (1)	
Single Family 70' - Calabria	75	$	10,518	$	1,673	$	12,191	$	948	$	1,008	
LR - Paradise Palms	553	$	0	$	4,714	$	4,714	$	357	$	379	
Townhome - Caribe Cove	187	$	5,259	$	1,673	$	6,932	$	537	$	572	
Single Family 50' - Tuscany	68	$	6,299	$	1,673	$	7,971	$	618	$	658	
Townhome - Bayhama Bay II	170	$	5,259	$	1,673	$	6,932	$	537	$	572	
Townhome - Golden Cay	124	$	4,750	$	1,673	$	6,423	$	497	$	529	
Townhome - Parcel K	100	$	5,249	$	1,673	$	6,922	$	536	$	571	
Single Family 40' - Parcel K	77	$	5,774	$	1,673	$	7,447	$	577	$	614	
Single Family 50' - Parcel K	14	$	6,299	$	1,673	$	7,971	$	618	$	658	
Townhome - Parcel L	158	$	5,249	$	1,673	$	6,922	$	536	$	571	
Single Family 50' - Parcel L	192	$	6,299	$	1,673	$	7,971	$	618	$	658	
Townhome - M1	276	$	0	$	6,375	$	6,375	$	482	$	513	
TOTAL	1,994	$	60,954	$	27,817	$	88,771			

Westside Community Development District

Debt Service Fund Series 2019 - Parcel K Fiscal Year 2021

	ADOPTED
BUDGET	ACTUAL
THRU	PROJECTED
NEXT	TOTAL
PROJECTED	ADOPTED
BUDGET	
	FY 2020	07/31/20	2 MONTHS	9/30/20	FY 2021	

REVENUES:						
Assessments	$0	$0	$0	$0	$78,845	
Interest	$75	$65	$10	$75	$0	
Carryforward Surplus (1)	$0	$0	$0	$0	$37,045	
TOTAL REVENUES	$75	$65	$10	$75	$115,890	

EXPENDITURES:						
Interest - 11/1	$0	$0	$0	$0	$36,970	
Interest - 5/1	$29,781	$29,781	$0	$29,781	$36,970	
TOTAL EXPENDITURES	$29,781	$29,781	$0	$29,781	$73,940	

OTHER FINANCING SOURCES:						
Bond Proceeds	$159,601	$159,601	$0	$159,601	$0	
Transfer In (Out)	$0	$0	$0	$0	$0	
TOTAL OTHER FINANCING SOURCES (USES)	$159,601	$159,601	$0	$159,601	$0	
						
EXCESS REVENUES/(EXPENDITURES)	$129,895	$129,885	$10	$129,895	$41,950	
				
Interest - 11/1/2021	
$36,970	

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

Date

Principal

Interest

Annual

11/1/20	$	-	$	36,970	$	66,751	
5/1/21	$	-	$	36,970	$	-	
11/1/21	$	-	$	36,970	$	73,940	
5/1/22	$	-	$	36,970	$	-	
11/1/22	$	-	$	36,970	$	73,940	
5/1/23	$	-	$	36,970	$	-	
11/1/23	$	-	$	36,970	$	73,940	
5/1/24	$	-	$	36,970	$	-	
11/1/24	$	-	$	36,970	$	73,940	
5/1/25	$	-	$	36,970	$	-	
11/1/25	$	-	$	36,970	$	73,940	
5/1/26	$	-	$	36,970	$	-	
11/1/26	$	-	$	36,970	$	73,940	
5/1/27	$	-	$	36,970	$	-	
11/1/27	$	-	$	36,970	$	73,940	
5/1/28	$	-	$	36,970	$	-	
11/1/28	$	-	$	36,970	$	73,940	
5/1/29	$	-	$	36,970	$	-	
11/1/29	$	-	$	36,970	$	73,940	
5/1/30	$	-	$	36,970	$	-	
11/1/30	$	-	$	36,970	$	73,940	
5/1/31	$	-	$	36,970	$	-	
11/1/31	$	-	$	36,970	$	73,940	
5/1/32	$	-	$	36,970	$	-	
11/1/32	$	-	$	36,970	$	73,940	
5/1/33	$	5,000	$	36,970	$	-	
11/1/33	$	-	$	36,875	$	78,845	
5/1/34	$	5,000	$	36,875	$	-	
11/1/34	$	-	$	36,780	$	78,655	
5/1/35	$	5,000	$	36,780	$	-	
11/1/35	$	-	$	36,685	$	78,465	
5/1/36	$	5,000	$	36,685	$	-	
11/1/36	$	-	$	36,590	$	78,275	
5/1/37	$	5,000	$	36,590	$	-	
11/1/37	$	-	$	36,495	$	78,085	
5/1/38	$	90,000	$	36,495	$	-	

Date	Principal	Interest	Annual

11/1/38	$	-	$	34,785	$	161,280	
5/1/39	$	115,000	$	34,785	$	-	
11/1/39	$	-	$	32,600	$	182,385	
5/1/40	$	120,000	$	32,600	$	-	
11/1/40	$	-	$	30,200	$	182,800	
5/1/41	$	125,000	$	30,200	$	-	
11/1/41	$	-	$	27,700	$	182,900	
5/1/42	$	130,000	$	27,700	$	-	
11/1/42	$	-	$	25,100	$	182,800	
5/1/43	$	135,000	$	25,100	$	-	
11/1/43	$	-	$	22,400	$	182,500	
5/1/44	$	140,000	$	22,400	$	-	
11/1/44	$	-	$	19,600	$	182,000	
5/1/45	$	145,000	$	19,600	$	-	
11/1/45	$	-	$	16,700	$	181,300	
5/1/46	$	155,000	$	16,700	$	-	
11/1/46	$	-	$	13,600	$	185,300	
5/1/47	$	160,000	$	13,600	$	-	
11/1/47	$	-	$	10,400	$	184,000	
5/1/48	$	165,000	$	10,400	$	-	
11/1/48	$	-	$	7,100	$	182,500	
5/1/49	$	175,000	$	7,100	$	-	
11/1/49	$	-	$	3,600	$	185,700	
5/1/50	$	180,000	$	3,600	$	-	
11/1/50	$	-	$	-	$	183,600	

Totals	$ 1,860,000	$   1,845,421	$ 3,705,421

WESTSIDE
COMMUNITY DEVELOPMENT DISTRICT SPECIAL ASSESSMENT REVENUE BONDS, SERIES 2019

PRODUCT	

No. of Units

77
14
100	ALLOCATION METHODOLOGY - SERIES 2019 BONDS
For Parcel K Assessment Area FY 2021 thrugh FY 2037

Series 2019	Series 2019 (Parcel		Series 2019 (Refunding)		K) Gross	(Parcel K) Net
Gross Assessment	Assessment Per	Annual Per Per Unit (1)		Unit (1)		Unit

$	614	$	33,142	$	430
$	658	$	6,574	$	470
$	571	$	39,129	$	391	

Series 2019 (Parcel K) Gross Annual Per Unit

$	458
$	500
$	416	

Total Combined Gross Annual Debt Assessment Per Unit (1)

$	1,072
$	1,158
$	987	
Single Family 40'					
Single Family 50'					
Townhome					
TOTAL	191	$	1,843	$	78,845			

(1) This amount includes collection fees and early payment discounts when collected on the Osceola County Tax Bill	

Westside Community Development District

Capital Reserve Fund
Fiscal Year 2021

	ADOPTED
BUDGET	ACTUAL
THRU	PROJECTED
NEXT	TOTAL
PROJECTED	ADOPTED
BUDGET	
	FY 2020	07/31/20	2 MONTHS	9/30/20	FY 2021	

REVENUES:						
Interest	$5,000	$3,423	$200	$3,623	$0	
Carry Forward Surplus	$366,672	$406,602	$0	$406,602	$810,225	
TOTAL REVENUES	$371,672	$410,025	$200	$410,225	$810,225	

EXPENDITURES:						
Capital Outlay	$0	$0	$0	$0	$0	
TOTAL EXPENDITURES	$0	$0	$0	$0	$0	

OTHER FINANCING SOURCES:						
Transfer In (Out)	$54,132	$400,000	$0	$400,000	$250,000	
TOTAL OTHER FINANCING SOURCES (USES)	$54,132	$400,000	$0	$400,000	$250,000	
						
EXCESS REVENUES/(EXPENDITURES)	$425,803	$810,025	$200	$810,225	$1,060,225