Silver Palms West	
Community Development District	

Adopted Budget	
FY 2026	

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	

REVENUES:

Special Assessments - On Roll	$	204,728	$	207,012	$	-	$	207,012	$	742,151	
Interest income	-	4,104	1,000	5,104	3,000	

TOTAL REVENUES	$	204,728	$	211,116	$	1,000	$	212,116	$	745,151	

EXPENDITURES:

Administrative:						
Supervisor Fees	$	-	$	-	$	-	$	-	$	12,000	
FICA Taxes	-	-	-	-	918	
Engieering	10,000	1,680	560	2,240	10,000	
Attorney	10,000	9,860	3,287	13,146	15,000	
Annual Audit	5,100	5,100	-	5,100	5,200	
Assessment Roll Administration	3,000	3,000	-	3,000	3,000	
Arbitrage Rebate	550	550	-	550	550	
Dissemination Agent	2,140	1,605	535	2,140	2,290	
Trustee Fees	4,041	4,041	-	4,041	4,434	
Management Fees	34,668	26,001	8,667	34,668	37,095	
Information Technology	535	401	134	535	572	
Website Administration	1,070	803	268	1,070	1,145	
Telephone	50	-	25	25	50	
Postage & Delivery	150	53	18	70	150	
Insurance General Liability	6,149	5,814	-	5,814	7,041	
Printing & Binding	750	15	5	21	750	
Legal Advertising	1,000	2,037	-	2,037	2,000	
Other Current Charges	1,500	1,163	388	1,550	1,500	
Office Supplies	90	0	45	45	90	
Dues, Licenses & Subscriptions	175	175	-	175	175	
TOTAL ADMINISTRATIVE	$	80,968	$	62,296	$	13,930	$	76,226	$	103,960	

Silver Palms West	
Community Development District	
Adopted Budget	
General Fund	

Field Operations						
Field Management	$	12,000	$	-	$	6,000	$	6,000	$	12,840	
Landscape Maintenance	56,130	-	28,065	28,065	195,000	
Landscape - One Time Enhancement Project	-	-	-	-	112,500	
Security Service	-	-	-	-	253,000	
Plant Replacement	5,000	-	2,500	2,500	10,000	
Repairs & Maintenance	11,000	-	5,500	5,500	11,000	
Drainage Maintenance	10,000	-	5,000	5,000	10,000	
Porter Services	12,000	-	6,000	6,000	12,000	
Sidewalk Repair	14,851	-	7,426	7,426	14,851	
Contingency	2,779	-	2,779	2,779	10,000	

Total Field Operations	$	123,760	$	-	$	63,270	$	63,270	$	641,191	

TOTAL EXPENDITURES	$	204,728	$	62,296	$	77,199	$	139,496	$	745,151	

EXCESS REVENUES (EXPENDITURES)	$	-	$	148,820	$	(76,199)	$	72,620	$	-	

Gross Assessments	
Less: Discounts & Collections 5%	
Net Assessments	

$	781,212	
	39,061 	
 $	742,151 	

Product	Assessable Units	Total Gross Assessment	FY25
Gross Per Unit	FY26
Gross Per Unit	Increase/ (Decrease)	

Single Family	182	$	218,068.35	$	330.53	$	1,198.18	$	867.65	
Townhomes	217	$	260,004.57	$	330.53	$	1,198.18	$	867.65	
Villas	253	$	303,138.97	$	330.53	$	1,198.18	$	867.65	

Total	652	$  781,211.88	

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.	

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.	

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 Florida Department of Commerce 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.	
Landscape - One Time Enhancement Project	
The District will enter into a contract for a one time landscape enhancement project.	
Security	
District to contract with Roving Security Service for daily Patrols.	
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.	
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	FY2025	6/30/25	3 Months	9/30/25	FY 2026	

REVENUES:

Special Assessments-On Roll	$	832,906	$	837,128	$	-	$	837,128	$	832,906	
Interest Earnings	15,000	28,745	5,000	33,745	15,000	
Carry Forward Surplus (1)	337,745	307,601	30,144	337,745	386,054	

TOTAL REVENUES	$  1,185,651	$	1,173,474	$	35,144	$	1,208,619	$  1,233,960	

EXPENDITURES:

Interest - 12/15	$	255,044	$	255,044	$	-	$	255,044	$	250,819	
Principal - 06/15	325,000	325,000	-	325,000	335,000	
Interest - 06/15	255,044	255,044	-	255,044	250,819	

TOTAL EXPENDITURES	$	835,088	$	835,088	$	-	$	835,088	$	836,638	

Other Sources/(Uses)

Interfund transfer In/(Out)	$	(10,000)	$	(12,523)	$	-	$	(12,523)	$	(10,000)	

TOTAL OTHER SOURCES/(USES)	$	(10,000)	$	(12,523)	$	-	$	(12,523)	$	(10,000)	

TOTAL EXPENDITURES	$	825,088	$	822,565	$	-	$	822,565	$	826,638	

EXCESS REVENUES (EXPENDITURES)	$	360,563	$	350,909	$	35,144	$	386,054	$	407,322	

Interest Due 12/15/26	 $	246,464 	
	 $	246,464 	

(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	FY25
Gross Per Unit	FY26
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	

06/15/22	$15,085,000	2.600%	$-	$197,377	$-	
12/15/22	15,085,000	2.600%	-	263,169	460,545.31	
06/15/23	15,085,000	2.600%	310,000	263,169		
12/15/23	14,775,000	2.600%	-	259,139	832,307.50	
06/15/24	14,775,000	2.600%	315,000	259,139		
12/15/24	14,460,000	2.600%	-	255,044	829,182.50	
06/15/25	14,460,000	2.600%	325,000	255,044		
12/15/25	14,135,000	2.600%	-	250,819	830,862.50	
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	

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

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	$15,085,000	$10,280,344	$25,365,344	

Silver Palms West	
Community Development District	
Non-Ad Valorem Assessments Comparison	
2025-2026	

Neighborhood	O&M Units	Bonds 2016
Units	
Annual Maintenance Assessments	
Annual Debt Assessments	
Total Assessed Per Unit	
	
FY 2026	
FY2025	Increase/ (decrease)	
FY 2026	
FY2025	Increase/ (decrease)	
FY 2026	
FY2025	Increase/ (decrease)	

Single Family	
182	
182	
$1,198.18	
$330.53	
$867.65	
$1,600.24	
$1,600.24	
$0.00	
$2,798.42	
$1,930.77	
$867.65	
Townhomes	217	217	$1,198.18	$330.53	$867.65	$1,280.20	$1,280.20	$0.00	$2,478.38	$1,610.73	$867.65	
Villas	253	253	$1,198.18	$330.53	$867.65	$1,216.19	$1,216.19	$0.00	$2,414.37	$1,546.72	$867.65	
Total	652	652										

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