Silver Palms West	
Community Development District	

Adopted Budget	
FY 2027	

Table of Contents

1-2

3-4

5

6-7

	General Fund

	Narratives

	Debt Service Fund Series 2022

	Series 2022 Amortization Schedule

8		Assessment Schedule

Silver Palms West	
Community Development District	
Adopted Budget	
General Fund	

Adopted Budget	
Actuals Thru	
Projected Next	
Projected Thru	Adopted Budget	
Description	FY2026	4/30/26	5 Months	9/30/26	FY 2027	

REVENUES:

Special Assessments - On Roll	$	742,151	$	725,086	$	17,065	$	742,151	$	742,153	
Interest income	3,000	14,171	5,000	19,171	10,000	

TOTAL REVENUES	$	745,151	$	739,258	$	22,065	$	761,322	$	752,153	

EXPENDITURES:

Administrative:						
Supervisor Fees	$	12,000	$	2,800	$	9,200	$	12,000	$	12,000	
FICA Taxes	918	214	704	918	918	
Engieering	10,000	3,936	2,811	6,747	12,000	
Attorney	15,000	16,785	11,989	28,774	25,000	
Annual Audit	5,200	5,200	-	5,200	4,200	
Assessment Roll Administration	3,000	3,000	-	3,000	3,210	
Arbitrage Rebate	550	550	-	550	550	
Dissemination Agent	2,290	1,336	954	2,290	2,450	
Trustee Fees	4,434	4,434	-	4,434	4,434	
Management Fees	37,095	21,639	15,456	37,095	39,692	
Information Technology	572	334	238	572	612	
Website Administration	1,145	668	477	1,145	1,225	
Telephone	50	-	25	25	50	
Postage & Delivery	150	36	26	62	150	
Insurance General Liability	7,041	6,163	-	6,163	6,779	
Printing & Binding	750	12	8	20	750	
Legal Advertising	2,000	8,051	700	8,751	2,000	
Other Current Charges	1,500	1,304	932	2,236	2,000	
Office Supplies	90	0	45	45	90	
Dues, Licenses & Subscriptions	175	175	-	175	175	
TOTAL ADMINISTRATIVE	$	103,960	$	76,637	$	43,566	$	120,203	$	118,286	

Silver Palms West	
Community Development District	
Adopted Budget	
General Fund	

Adopted Budget	
Actuals Thru	
Projected Next	
Projected Thru	Adopted Budget	
Description	FY2026	4/30/26	5 Months	9/30/26	FY 2027	

Field Operations						
Field Management	$	12,840	$	7,490	$	5,350	$	12,840	$	13,739	
Landscape Maintenance	195,000	-	171,723	171,723	195,000	
Landscape - One Time Enhancement Project	112,500	-	112,500	112,500	-	
Security Service	253,000	87,500	105,417	192,917	253,000	
Plant Replacement	10,000	13,500	3,500	17,000	20,000	
Repairs & Maintenance	11,000	2,775	8,225	11,000	11,000	
Drainage Maintenance	10,000	-	10,000	10,000	10,000	
Porter Services	12,000	-	12,000	12,000	12,000	
Sidewalk Repair	14,851	-	14,851	14,851	14,851	
Holiday Lighting	-	16,214	-	16,214	20,000	
Contingency	10,000	-	70,075	70,075	84,277	

Total Field Operations	$	641,191	$	127,479	$	513,640	$	641,119	$	633,867	

TOTAL EXPENDITURES	$	745,151	$	204,116	$	557,206	$	761,322	$	752,153	

EXCESS REVENUES (EXPENDITURES)	$	-	$	535,142	$	(535,141)	$	-	$	-	

Gross Assessments	
Less: Discounts & Collections 5%	
Net Assessments	

$	781,213	
	39,061 	
 $	742,153 	

Product	Assessable Units	Total Gross Assessment	FY26
Gross	Per Unit	FY27
Gross Per Unit	Increase/ (Decrease)	

Single Family	182	$	218,068.76	$	1,198.18	$	1,198.18	$	-	
Townhomes	217	$	260,005.06	$	1,198.18	$	1,198.18	$	-	
Villas	253	$	303,139.54	$	1,198.18	$	1,198.18	$	-	

Total	652	$  781,213.36	

Silver Palms West	
Community Development District	
Budget Narrative	

REVENUES	

Special Assessments - On Roll	
The District will levy a Non-Ad Valorem assessment on all the platted lots within the District to pay all of the operating expenses for the Fiscal Year in accordance with the adopted budget.	
Interest	
The District earns interest on the monthly average collected balance for each of their investment accounts.	

Expenditures - Administrative	

Supervisors Fees	
Chapter 190 of the Florida Statutes allows for members of the Board of Supervisors to be compensated
$200 per meeting in which they attend. The budgeted amount for the fiscal year is based on all supervisors attending meetings.	
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 will be providing general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review invoices, etc.	
Attorney Fees	
The District's legal counsel will be providing general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating & maintenance contracts, etc.	
Annual Audit	
The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm.	
Assessment Roll Administration	
Represents cost associated with annually levying and collection Non-Ad Valorem Assessments utilized to fund the operating and debt service cost of the District.	
Arbitrage Rebate	
The District is required to have an annual arbitrage rebate calculation on the District’s Bonds. The District will contract with an independent auditing firm to perform the calculations.	
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.	
Information Technology	
The District processes all of its financial activities, i.e. accounts payable, financial statements, etc. on a main frame computer leased by Governmental Management Services – South Florida, 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-SF, LLC and updated monthly.	
Telephone	
Telephone and fac machine.	
Postage and Delivery	
Mailing of agenda packages, overnight deliveries, correspondence, etc.	

Silver Palms West	
Community Development District	
Budget Narrative	

Expenditures - Administrative (continued)	
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	
Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc.	
Legal Advertising	
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.	
Other Current Charges	
Bank charges and any other miscellaneous expenses that incurred during the year.	
Office Supplies	
Miscellaneous office supplies	
Due, Licenses & Subscriptions	
The District is required to pay an annual fee to the FloridaCommerce for $175. This is the only expense under this category for the
District.	

Expenditures – Field Operations	

Field Management	
The supervision and on-site management of the District. The responsibilities include reviewing contracts and other maintenance related items.	
Landscape Maintenance	
The District will enter into a contract for the monthly maintenance of common areas.	
Security Service	
The District has signed an agreement to contribute with The Corisca Homeowners Association to provide for the security improvements and associated services on District property. The Corisca Homeowners Association shall contract with Flock Group, Inc.	
Plant Replacement	
The cost associated with any replacement of landscaping during the year.	
Repairs & Maintenance	
Any miscellaneous repairs not included in another budget line item.	
Drainage Maintenance	
The District will enter into a contract for the monthly maintenance of the District drainage needs.	
Porter Services	
The District will enter into a contract for these services.	
Sidewalk Repair	
The cost of sidewalk repair to the District.	
Holiday Lighting	
Estimated cost for the installation and payment of holiday lights as per the agreement signed by the District and Corsica Homeowners Association, Inc.	
Contingency	
Represents any unbudgeted expense.	

Silver Palms West	
Community Development District	
Adopted Budget	
Debt Service Series 2022 Special Assessment Bonds	

Adopted Budget	
Actuals Thru	
Projected Next	
Projected Thru	Adopted Budget	
Description	FY2026	4/30/26	5 Months	9/30/26	FY 2027	

REVENUES:

Special Assessments-On Roll	$	832,906	$	811,809	$	21,097	$	832,906	$	832,906	
Interest Earnings	15,000	19,276	8,000	27,276	15,000	
Carry Forward Surplus (1)	386,054	329,756	56,298	386,054	417,699	

TOTAL REVENUES	$  1,233,960	$	1,160,841	$	85,395	$	1,246,236	$  1,265,605	

EXPENDITURES:

Interest - 12/15	$	250,819	$	250,819	$	-	$	250,819	$	246,464	
Principal - 06/15	335,000	-	335,000	335,000	340,000	
Interest - 06/15	250,819	-	250,819	250,819	246,464	

TOTAL EXPENDITURES	$	836,638	$	250,819	$	585,819	$	836,638	$	832,928	

Other Sources/(Uses)

Interfund transfer In/(Out)	$	(10,000)	$	(8,101)	$	-	$	(8,101)	$	(10,000)	

TOTAL OTHER SOURCES/(USES)	$	(10,000)	$	(8,101)	$	-	$	(8,101)	$	(10,000)	

TOTAL EXPENDITURES	$	826,638	$	242,718	$	585,819	$	828,537	$	822,928	

EXCESS REVENUES (EXPENDITURES)	$	407,322	$	918,123	$	(500,424)	$	417,699	$	442,678	

Interest Due 12/15/27	 $	242,044 	
	 $	242,044 	

(1) Carry Forward is Net of Reserve Requirement

Gross Assessments	
Less: Discounts & Collections 5%	
Net Assessments	

$	876,743	
	43,837 	
 $	832,906 	

Product	Assessable Units	Total Gross Assessment	FY26
Gross Per Unit	FY27
Gross Per Unit	Increase/ (Decrease)	

Single Family	182	$	291,243.68	$	1,600.24	$	1,600.24	$	-	
Townhomes	217	$	277,803.40	$	1,280.20	$	1,280.20	$	-	
Villas	253	$	307,696.07	$	1,216.19	$	1,216.19	$	-	

Total	652	$  876,743.15	

Silver Palms West	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2022 Special Assessment Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

06/15/26	14,135,000	2.600%	335,000	250,819		
12/15/26	13,800,000	2.600%	-	246,464	832,282.50	
06/15/27	13,800,000	2.600%	340,000	246,464		
12/15/27	13,460,000	2.600%	-	242,044	828,507.50	
06/15/28	13,460,000	3.000%	350,000	242,044		
12/15/28	13,110,000	3.000%	-	236,794	828,837.50	
06/15/29	13,110,000	3.000%	360,000	236,794		
12/15/29	12,750,000	3.000%	-	231,394	828,187.50	
06/15/30	12,750,000	3.000%	375,000	231,394		
12/15/30	12,375,000	3.000%	-	225,769	832,162.50	
06/15/31	12,375,000	3.000%	385,000	225,769		
12/15/31	11,990,000	3.000%	-	219,994	830,762.50	
06/15/32	11,990,000	3.000%	395,000	219,994		
12/15/32	11,595,000	3.000%	-	214,069	829,062.50	
06/15/33	11,595,000	3.250%	410,000	214,069		
12/15/33	11,185,000	3.250%	-	207,406	831,475.00	
06/15/34	11,185,000	3.250%	425,000	207,406		
12/15/34	10,760,000	3.250%	-	200,500	832,906.25	
06/15/35	10,760,000	3.250%	435,000	200,500		
12/15/35	10,325,000	3.250%	-	193,431	828,931.25	
06/15/36	10,325,000	3.250%	450,000	193,431		
12/15/36	9,875,000	3.250%	-	186,119	829,550.00	
06/15/37	9,875,000	3.250%	465,000	186,119		
12/15/37	9,410,000	3.250%	-	178,563	829,681.25	
06/15/38	9,410,000	3.250%	480,000	178,563		
12/15/38	8,930,000	3.250%	-	170,763	829,325.00	
06/15/39	8,930,000	3.250%	495,000	170,763		
12/15/39	8,435,000	3.250%	-	162,719	828,481.25	
06/15/40	8,435,000	3.250%	515,000	162,719		
12/15/40	7,920,000	3.250%	-	154,350	832,068.75	
06/15/41	7,920,000	3.250%	530,000	154,350		
12/15/41	7,390,000	3.250%	-	145,738	830,087.50	
06/15/42	7,390,000	3.250%	550,000	145,738		
12/15/42	6,840,000	3.250%	-	136,800	832,537.50	
06/15/43	6,840,000	4.000%	570,000	136,800		
12/15/43	6,270,000	4.000%	-	125,400	832,200.00	
06/15/44	6,270,000	4.000%	590,000	125,400		
12/15/44	5,680,000	4.000%	-	113,600	829,000.00	
06/15/45	5,680,000	4.000%	615,000	113,600		
12/15/45	5,065,000	4.000%	-	101,300	829,900.00	
06/15/46	5,065,000	4.000%	640,000	101,300		
12/15/46	4,425,000	4.000%	-	88,500	829,800.00	
06/15/47	4,425,000	4.000%	665,000	88,500		
12/15/47	3,760,000	4.000%	-	75,200	828,700.00	
06/15/48	3,760,000	4.000%	695,000	75,200		
12/15/48	3,065,000	4.000%	-	61,300	831,500.00	
06/15/49	3,065,000	4.000%	720,000	61,300		
12/15/49	2,345,000	4.000%	-	46,900	828,200.00	
06/15/50	2,345,000	4.000%	750,000	46,900		
12/15/50	1,595,000	4.000%	-	31,900	828,800.00	
06/15/51	1,595,000	4.000%	780,000	31,900		
12/15/51	815,000	4.000%	-	16,300	828,200.00	
06/15/52	815,000	4.000%	815,000	16,300	831,300.00	

Total	$14,135,000	$8,277,446	$22,412,446	

Silver Palms West	
Community Development District	
Non-Ad Valorem Assessments Comparison	
2026-2027	

Neighborhood	O&M Units	Bonds 2016
Units	
Annual Maintenance Assessments	
Annual Debt Assessments	
Total Assessed Per Unit	
	
FY 2027	
FY2026	Increase/ (decrease)	
FY 2027	
FY2026	Increase/ (decrease)	
FY 2027	
FY2026	Increase/ (decrease)	

Single Family	
182	
182	
$1,198.18	
$1,198.18	
$0.00	
$1,600.24	
$1,600.24	
$0.00	
$2,798.42	
$2,798.42	
$0.00	
Townhomes	217	217	$1,198.18	$1,198.18	$0.00	$1,280.20	$1,280.20	$0.00	$2,478.38	$2,478.38	$0.00	
Villas	253	253	$1,198.18	$1,198.18	$0.00	$1,216.19	$1,216.19	$0.00	$2,414.37	$2,414.37	$0.00	
Total	652	652										

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