Windward
Community Development District

Adopted Budget
FY2022

Table of Contents

1-2

3-7

8

9-10

11

12

13

14

15
 	General Fund

 	General Fund Narrative

 	Debt Service Fund Series 2018 A-1

 	Amortization Schedule Series 2018 A-1

 	Debt Service Fund Series 2018 A-2

 	Amortization Schedule Series 2018 A-2

 	Debt Service Fund Series 2020 A-1

 	Amortization Schedule Series 2020 A-1

 	Debt Service Fund Series 2020 A-2

16	 	Amortization Schedule Series 2020 A-2
Windward
Community Development District General Fund
	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2021	5/31/21	4 Months	9/30/21	FY2022	

Revenues						
Assessments - Tax Roll/Direct	$	312,226	$	311,386	$	840	$	312,226	$	325,776	
Deficit Funding	$	198,976	$	56,886	$	282,894	$	339,780	$	418,610	
Total Revenues	$	511,202	$	368,272	$	283,734	$	652,006	$	744,386	

Expenditures						
Administrative						
Supervisors Fees	$	4,800	$	200	$	2,000	$	2,200	$	4,800	
FICA Expense	$	367	$	15	$	153	$	168	$	367	
Engineering	$	16,000	$	5,163	$	2,581	$	7,744	$	16,000	
Attorney	$	25,000	$	11,892	$	2,973	$	14,865	$	25,000	
Arbitrage	$	450	$	900	$	-	$	900	$	450	
Dissemination	$	3,500	$	4,875	$	2,333	$	7,208	$	7,000	
Annual Audit	$	4,200	$	2,000	$	2,200	$	4,200	$	4,300	
Trustee Fees	$	5,000	$	3,717	$	-	$	3,717	$	5,000	
Assessment Administration	$	5,000	$	5,000	$	-	$	5,000	$	5,000	
Management Fees	$	36,050	$	24,033	$	12,017	$	36,050	$	37,132	
Information Technology	$	1,200	$	400	$	800	$	1,200	$	1,400	
Website Maintenace	$	600	$	-	$	600	$	600	$	800	
Telephone	$	300	$	-	$	75	$	75	$	250	
Postage	$	1,000	$	202	$	180	$	382	$	800	
Travel Per Diem	$	660	$	-	$	150	$	150	$	660	
Printing & Binding	$	500	$	32	$	100	$	132	$	500	
Insurance	$	5,500	$	5,381	$	-	$	5,381	$	5,919	
Legal Advertising	$	2,500	$	103	$	466	$	568	$	1,500	
Other Current Charges	$	1,000	$	1,399	$	700	$	2,099	$	2,000	
Office Supplies	$	400	$	2	$	8	$	10	$	150	
Property Appraiser	$	500	$	110	$	-	$	110	$	500	
Property Taxes	$	250	$	-	$	250	$	250	$	250	
Boundary Expansion	$	-	$	10,492	$	-	$	10,492	$	-	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	

Total Adminstrative	$	114,952	$	76,091	$	27,586	$	103,676	$	119,952	
Windward
Community Development District General Fund
	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2021	5/31/21	4 Months	9/30/21	FY2022	
Operation & Maintenance						
Field Services	$	15,450	$	10,300	$	5,150	$	15,450	$	15,914	
Facility Maintenance	$	12,000	$	7,000	$	5,000	$	12,000	$	12,000	
Telephone	$	3,500	$	-	$	1,750	$	1,750	$	3,500	
Electric	$	26,000	$	39,635	$	19,818	$	59,453	$	65,000	
Water & Sewer	$	210,000	$	168,392	$	140,564	$	308,955	$	330,000	
Security Building Maintenance	$	10,000	$	798	$	4,919	$	5,718	$	10,000	
Landscape Maintenance	$	63,000	$	61,399	$	31,060	$	92,459	$	134,520	
Landscape Contingency	$	25,000	$	15,000	$	2,180	$	17,180	$	25,000	
Property Insurance	$	6,000	$	2,713	$	-	$	2,713	$	3,200	
Fountain Maintenance	$	4,200	$	2,670	$	1,200	$	3,870	$	4,200	
Lake Maintenance	$	6,000	$	-	$	3,000	$	3,000	$	6,000	
Irrigation Repairs	$	4,000	$	7,398	$	3,699	$	11,097	$	4,000	
Lighting Maintenance	$	2,500	$	-	$	1,250	$	1,250	$	2,500	
Monument Maintenance	$	1,400	$	1,780	$	-	$	1,780	$	1,400	
Roadway Maintenance	$	2,200	$	3,050	$	-	$	3,050	$	2,200	
Contingency	$	5,000	$	4,535	$	465	$	5,000	$	5,000	
Operation & Maintenance Expenses	$	396,250	$	324,670	$	220,055	$	544,725	$	624,434	
						
Total Expenditures	$	511,202	$	400,761	$	247,640	$	648,401	$	744,386	

Other Financing Sources/(Uses)						
Transfer In/(Out)	$	-	$	(3,605)	$	-	$	(3,605)	$	-	
Total Other Financing Sources/(Uses)	$	-	$	(3,605)	$	-	$	(3,605)	$	-	
						
Excess Revenues/(Expenditures)	$	-	$	(36,093)	$	36,094	$	0	$	-	
				
Net Assessment	
$325,776	
Collection Cost (6%) 		$20,794 Gross Assessment 	$346,571 

Per Unit Projected O&M (553 Units)	$626.71	
Per Unit Estimated Debt Gross	$960.00	
Total Projected Annual Assessments	$1,586.71	
Windward
Community Development District
GENERAL FUND BUDGET

REVENUES:

Special 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.

Deficit Funding

The District will enter into a Deficit Funding Agreement with the Developer to fund any General Fund expenditures remaining once all assessment funds have been utilized.

EXPENDITURES:

Administrative:

Supervisor Fees

Chapter 190, Florida Statutes, allows for each Board member to received $200 per meeting, not to exceed $4,800 per year paid to each Supervisor for the time devoted to District business and meetings. The District anticipates 12 meetings per year, with 2 Board members receiving payment for their attendance at each meeting.

FICA Expense

Represents the Employer’s share of Social Security and Medicare taxes withheld from the Board of Supervisor checks.

Engineering

The District's engineer will be providing general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review of invoices and requisitions, preparation and review of contract specifications and bid documents, and various projects assigned as directed by the Board of Supervisors and the District Manager.

Attorney

The District's legal counsel will be providing general legal services to the District, e.g. attendance and preparation for monthly meetings, preparation and review of agreements and resolutions, and other research assigned as directed by the Board of Supervisors and the District Manager.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on the Series 2018A-1, 2018A-2, 2020-A1, and 2020-A2 Special Assessment Revenue Bonds.

Dissemination

The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(5) which relates to additional reporting requirements for unrated bond issues.
Windward
Community Development District
GENERAL FUND BUDGET

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis.

Trustee Fees

The District will pay annual trustee fees for the Series 2018A-1, 2018A-2, 2020A-1 & 2020A-2 Special Assessment Revenue Bonds that are deposited with a Trustee at USBank.

Assessment Administration

The District has contracted with Governmental Management Services-CF, LLC to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

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, budget preparation, all financial reporting, annual audit, etc.

Information Technology

Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, security, accounting software, etc.

Website Maintenance

Represents the costs associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc.

Telephone

Telephone and fax machine.

Postage

The District incurs charges for mailing of agenda packages, overnight deliveries, checks for vendors and other required correspondence.

Travel Per Diem

The Board of Supervisors can be reimbursed for travel expenditures related to the conducting of District business.

Printing & Binding

Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc.
Windward
Community Development District
GENERAL FUND BUDGET

Insurance

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

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

Represents any miscellaneous expenses incurred during the fiscal year such as bank fees, deposit slips, stop payments, etc.

Office Supplies

The District incurs charges for office supplies that need to be purchased during the fiscal year.

Property Appraiser

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

Property Taxes

Represents a fee charged by the Osceola County Tax Collector’s Office for all assessable property within the District.

Dues, Licenses & Subscriptions

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

Operation and Maintenance:

Field Services

Provide onsite field management of contracts for the District such as landscape and lake maintenance. Services to include bimonthly onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Facility Maintenance

Represents estimated costs for facility maintenance.

Telephone

Represents estimated costs for telephone services to the guardhouse.
Windward
Community Development District
GENERAL FUND BUDGET

Electric

Represents estimated costs for electrical accounts with Duke Energy for entrance lighting, irrigation meters and other District areas.

Water & Sewer

Represents estimated costs for water & sewer services with Toho Water Authority for fountain, guardhouse, irrigation meters and other District areas.

Security Building Maintenance

Represents estimated costs for any repairs and maintenance to the guardhouse.

Landscape Maintenance

The District will maintain the landscaping within the common areas of the District after installation of landscape material has been completed.

Landscape Contingency

Represents estimated costs for any additional landscape expenses not covered under the monthly landscape maintenance contract.

Property Insurance

Represents estimated costs for the annual coverage of property insurance. Coverage will be provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Fountain Maintenance

The District will schedule the regularly cleaning and treatment of the fountain maintained by the District. The District will be contracting with Grunit Pool Contractors.

Description	Monthly	Annual		
Fountain Maintenance	$350
Total	$4,200	
	$4,200	

Lake Maintenance

Represents estimated costs for the maintenance of any ponds and lakes located within the District.

Irrigation Repairs

Represents estimated costs for any repairs to the irrigation system.

Lighting Maintenance

Represents estimated repair and maintenance cost to all lighting fixtures maintained by the District.
Windward
Community Development District
GENERAL FUND BUDGET

Monument Maintenance

Represents estimated costs for any repairs to monuments within the District.

Roadway Maintenance

Represents estimated costs for any sidewalk or roadway maintenance for areas maintained by the District.

Contingency

Represents any additional field expense that may not have been provided for in the budget.
Windward
Community Development District

Debt Service Fund Series 2018 A-1

		Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
	Description	FY2021	5/31/21	4 Months	9/30/21	FY2022	

Revenues							
Special Assessments - 2018 A1	$	243,648	$	242,360	$	1,288	$	243,648	$	243,648		
Interest Income	$	500	$	9	$	5	$	14	$	50		
Carry Forward Surplus	$	98,656	$	94,077	$	-	$	94,077	$	99,379		
Total Revenues	$	342,804	$	336,446	$	1,292	$	337,739	$	343,077		

Expenses							
Series 2018A-1							
Interest - 11/1	$	95,983	$	95,983	$	-	$	95,983	$	94,858		
Principal - 5/1	$	50,000	$	50,000	$	-	$	50,000	$	50,000		
Interest - 5/1	$	95,983	$	95,983	$	-	$	95,983	$	94,858		
Total Expenditures	$	241,965	$	241,965	$	-	$	241,965	$	239,715		

Other Financing Sources/(Uses)							
Transfer In/(Out)	$	-	$	3,605	$	-	$	3,605	$	-				
Total Other Financing Sources/(Uses)	$	-	$	3,605	$	-	$	3,605	$	-				

Excess Revenues/(Expenditures)	$	100,839	$	98,086	$	1,292	$	99,379	$	103,362	

*Carry forward less amount in Reserve funds.				
Series 2018A-1		
Interest - 11/1/2022	$93,733

Total 	$93,733 

    Series 2018A-1 
$243,648
 	$15,552 
$259,200

Series 2018A-1					
Property Type	Platted Units	Gross Per Unit	Gross Total	Net Total	
Single Family 45'	33	$960	$31,680	$29,779	
Single Family 50'	161	$960	$154,560	$145,286	
Duplex	76	$960	$72,960	$68,582	
Total	270		$259,200	$243,648	
Windward
Community Development District Series 2018 A-1 Special Assessment Bonds Amortization Schedule

- 0,000.00
- 5,000.00
- 0,000.00
- 0,000.00
- 5,000.00
- 5,000.00
- 0,000.00
- 5,000.00
- 0,000.00
- 5,000.00
- 0,000.00
- 5,000.00
- 0,000.00
- 5,000.00
- 0,000.00
- 5,000.00
- 5,000.00
- 0,000.00
- 0,000.00
- 5,000.00
- 5,000.00
- 5,000.00
-
Windward
Community Development District Series 2018 A-1 Special Assessment Bonds Amortization Schedule

Date	Balance	Prinicpal	Interest	Total	

05/01/44	
$	1,220,000.00	
$	175,000.00	$	35,380.00		
11/01/44	$	1,045,000.00	$	-	$	30,305.00	$	240,685.00	
05/01/45	$	1,045,000.00	$	185,000.00	$	30,305.00		
11/01/45	$	860,000.00	$	-	$	24,940.00	$	240,245.00	
05/01/46	$	860,000.00	$	195,000.00	$	24,940.00		
11/01/46	$	665,000.00	$	-	$	19,285.00	$	239,225.00	
05/01/47	$	665,000.00	$	210,000.00	$	19,285.00		
11/01/47	$	455,000.00	$	-	$	13,195.00	$	242,480.00	
05/01/48	$	455,000.00	$	220,000.00	$	13,195.00		
11/01/48	$	235,000.00	$	-	$	6,815.00	$	240,010.00	
05/01/49	$	235,000.00	$	235,000.00	$	6,815.00	$	241,815.00	
		$	3,360,000.00	$	3,481,270.00	$	6,841,270.00	
Windward
Community Development District

Debt Service Fund Series 2018 A-2

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2021	5/31/21	4 Months	9/30/21	FY2022	

Revenues						
Special Assessments - 2018 A2	$	138,330	$	50,170	$	27,530	$	77,700	$	11,600	
Assessments - Prepayment	$	-	$	1,433,661	$	226,322	$	1,659,983	$	-	
Interest Income	$	500	$	16	$	8	$	24	$	50	
Carry Forward Surplus	$	377,865	$	904,583	$	-	$	904,583	$	105,280	
Total Revenues	$	516,695	$	2,388,430	$	253,860	$	2,642,290	$	116,930	

Expenses						
Series 2018A-2						
Special Call - 11/1	$	300,000	$	665,000	$	-	$	665,000	$	95,000	
Interest - 11/1	$	77,865	$	77,865	$	-	$	77,865	$	8,555	
Special Call - 2/1	$	-	$	580,000	$	-	$	580,000	$	-	
Interest - 2/1	$	-	$	8,410	$	-	$	8,410	$	-	
Interest - 5/1	$	69,165	$	41,760	$	-	$	41,760	$	5,800	
Special Call - 5/1	$	-	$	85,000	$	-	$	85,000	$	-	
Special Call - 8/1	$	-	$	-	$	1,060,000	$	1,060,000	$	-			
Interest - 8/1	$	-	$	-	$	15,370	$	15,370	$	-			
Transfer out	$	-	$	-	$	3,605	$	3,605	$	-			
Total Expenditures	$	447,030	$	1,458,035	$	1,078,975	$	2,537,010	$	109,355			
						
Excess Revenues/(Expenditures)	$	69,665	$	930,395	$	(825,115)	$	105,280	$	7,575			

*Carry forward less amount in Reserve funds.						
Series 2018A-2
Interest - 11/1/2022	$5,800

Total 	$5,800 
Windward
Community Development District Series 2018 A-2 Special Assessment Bonds Amortization Schedule

Date	Balance	Prinicpal	Interest	Total	
				
11/01/21	$	295,000.00	$	95,000.00	$	8,555.00	$	8,555.00	
05/01/22	$	200,000.00	$	-	$	5,800.00		
11/01/22	$	200,000.00	$	-	$	5,800.00	$	11,600.00	
05/01/23	$	200,000.00	$	-	$	5,800.00		
11/01/23	$	200,000.00	$	-	$	5,800.00	$	11,600.00	
05/01/24	$	200,000.00	$	-	$	5,800.00		
11/01/24	$	200,000.00	$	-	$	5,800.00	$	11,600.00	
05/01/25	$	200,000.00	$	-	$	5,800.00		
11/01/25	$	200,000.00	$	-	$	5,800.00	$	11,600.00	
05/01/26	$	200,000.00	$	-	$	5,800.00		
11/01/26	$	200,000.00	$	-	$	5,800.00	$	11,600.00	
05/01/27	$	200,000.00	$	-	$	5,800.00		
11/01/27	$	200,000.00	$	-	$	5,800.00	$	11,600.00	
05/01/28	$	200,000.00	$	-	$	5,800.00		
11/01/28	$	200,000.00	$	-	$	5,800.00	$	11,600.00	
05/01/29	$	200,000.00	$	-	$	5,800.00		
11/01/29	$	200,000.00	$	200,000.00	$	5,800.00	$	211,600.00	
		$	295,000.00	$	101,355.00	$	301,355.00	
Windward
Community Development District

Debt Service Fund Series 2020 A-1

Revenues

Special Assessments - 2020 A2 Interest Income
Carry Forward Surplus
$	-	$
$	12	$
$	-	$
-	$	-	$
8	$	4	$
-	$	-	$
-	$
12	$
-	$
255,313
-     89,263

Total Revenues	$	12	$	8	$	4

Expenses	$	12	$	344,575				
Series 2020A-1
Interest - 11/1	$	-	$	-	$	-	
$	-	
$	89,251				
Principal - 5/1	$	-	$	-	$	-	$	-	$	75,000				
Interest - 5/1	$	90,243	$	90,243	$	-	$	90,243	$	89,251	
Total Expenditures	$	90,243	$	90,243	$	-	$	90,243	$	253,503	

Other Financing Sources/(Uses)						
Bond Proceeds	$	307,150	$	307,150	$	-	$	307,150	$	-	
Total Other Financing Sources/(Uses)	$	307,150	$	307,150	$	-	$	307,150	$	-	
						
Excess Revenues/(Expenditures)	$	216,919	$	216,915	$	4	$	216,919	$	91,073	

*Carry forward less amount in Reserve funds.						
Series 2020 A-1
Interest - 11/1/2022	$88,126

Total 	$88,126 
Windward
Community Development District Series 2020 A-1 Special Assessment Bonds Amortization Schedule

-
- 5,000.00
- 0,000.00
- 0,000.00
- 5,000.00
- 5,000.00
- 0,000.00
- 0,000.00
- 5,000.00
- 0,000.00
- 5,000.00
- 0,000.00
- 0,000.00
- 5,000.00
- 0,000.00
- 5,000.00
- 5,000.00
- 0,000.00
- 5,000.00
- 0,000.00
- 0,000.00
- 5,000.00
- 5,000.00
- 0,000.00
- 0,000.00
- 0,000.00
- 5,000.00
- 5,000.00
- 5,000.00
- 5,000.00
- 5,000.00
14
Windward
Community Development District

Debt Service Fund Series 2020 A-2

		Proposed Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
	Description	FY2021	5/31/21	4 Months	9/30/21	FY2022	

Revenues							
Special Assessments - 2020 A2	$	-	$	-	$	-	$	-	$	354,398		
Interest Income	$	20	$	13	$	7	$	20	$	-		
Carry Forward Surplus	$	-	$	-	$	-	$	-	$	176,237		
Total Revenues	$	20	$	13	$	7	$	20	$	530,635		

Expenses							
Series 2018A-2							
Interest - 11/1	$	-	$	-	$	-	$	-	$	176,220		
Interest - 5/1	$	178,178	$	178,178	$	-	$	178,178	$	176,220		
Total Expenditures	$	178,178	$	178,178	$	-	$	178,178	$	352,440		

Other Financing Sources/(Uses)							
Bond Proceeds	$	531,597	$	531,597	$	-	$	531,597	$	-		
Total Other Financing Sources/(Uses)	$	531,597	$	531,597	$	-	$	531,597	$	-		
							
Excess Revenues/(Expenditures)	$	353,439	$	353,432	$	7	$	353,439	$	178,195		

*Carry forward less amount in Reserve funds.							
Series 2020 A-2
Interest - 11/1/2022	$176,220

Total 	$176,220 
Windward
Community Development District Series 2020 A-2 Special Assessment Bonds Amortization Schedule

DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL	

05/01/21	
$	8,010,000.00	
$	-	$	178,178.00		
11/01/21	$	8,010,000.00	$	-	$	176,220.00	$	354,398.00	
05/01/22	$	8,010,000.00	$	-	$	176,220.00		
11/01/22	$	8,010,000.00	$	-	$	176,220.00	$	352,440.00	
05/01/23	$	8,010,000.00	$	-	$	176,220.00		
11/01/23	$	8,010,000.00	$	-	$	176,220.00	$	352,440.00	
05/01/24	$	8,010,000.00	$	-	$	176,220.00		
11/01/24	$	8,010,000.00	$	-	$	176,220.00	$	352,440.00	
05/01/25	$	8,010,000.00	$	-	$	176,220.00		
11/01/25	$	8,010,000.00	$	-	$	176,220.00	$	352,440.00	
05/01/26	$	8,010,000.00	$	-	$	176,220.00		
11/01/26	$	8,010,000.00	$	-	$	176,220.00	$	352,440.00	
05/01/27	$	8,010,000.00	$	-	$	176,220.00		
11/01/27	$	8,010,000.00	$	-	$	176,220.00	$	352,440.00	
05/01/28	$	8,010,000.00	$	-	$	176,220.00		
11/01/28	$	8,010,000.00	$	-	$	176,220.00	$	352,440.00	
05/01/29	$	8,010,000.00	$	-	$	176,220.00		
11/01/29	$	8,010,000.00	$	-	$	176,220.00	$	352,440.00	
05/01/30	$	8,010,000.00	$	-	$	176,220.00		
11/01/30	$	8,010,000.00	$	-	$	176,220.00	$	352,440.00	
05/01/31	$	8,010,000.00	$	-	$	176,220.00		
11/01/31	$	8,010,000.00	$	-	$	176,220.00	$	352,440.00	
05/01/32	$	8,010,000.00	$	-	$	176,220.00		
11/01/32	$	8,010,000.00	$	-	$	176,220.00	$	352,440.00	
05/01/33	$	8,010,000.00	$	-	$	176,220.00		
11/01/33	$	8,010,000.00	$	-	$	176,220.00	$	352,440.00	
05/01/34	$	8,010,000.00	$	-	$	176,220.00		
11/01/34	$	8,010,000.00	$	-	$	176,220.00	$	352,440.00	
05/01/35	$	8,010,000.00	$	-	$	176,220.00		
11/01/35	$	8,010,000.00	$	8,010,000.00	$	176,220.00	$	8,362,440.00	
		$	8,010,000.00	$	5,288,558.00	$	13,298,558.00