Adopted Budget	
Fiscal Year 2022	

Interlaken	
Community Development District	

June 25, 2021

Interlaken	
Community Development District	

TABLE OF CONTENTS

General Fund	
Budget	
Budget Narrative	

Page 1	
Page 2-3	

Debt Service Fund

Budget Series 2012	
Amortization Schedule	
Budget Series 2015	
Amortization Schedule	

Page 4	
Page 5	
Page 6	
Page 7	

Interlaken	
Community Development District	

Adopted	
Budget	
FY2021	

Description

Revenues		
Maintenance Assessments - Net	$68,500	

Actual	
Thru	
5/31/2021	

Projected	
Next	
4 Months	

Projected	
thru	
9/30/2021	

$67,111	$1,389	$68,500

General Fund

 	 	 	

Adopted	
Budget	
FY2022	

$68,500	
$68,500	

$1,800
$138
$2,500
$1,500
$320
$12,000
$4,500
$7,000
$25,750
$50
$100
$500
$6,807
$700
$650
$1,000
$100
$175
$2,910	
$68,500	
	
$0	

Total Revenues	$68,500	$67,111	$1,389	$68,500

Expenditures

Administrative	
Supervisor Fees	
FICA	
Engineering Fees	
Dissemination Agent	
Assessment Roll	
Attorney Fees	
Annual Audit	
Trustee Fees	
Management Fees	
Telephone	
Postage	
Printing & Binding	
Insurance	
Legal Advertising	
Other Current Charges	
Website Compliance	
Office Supplies	
Dues, Licenses & Subscriptions	
Contingency	

$1,800	
$138	
$2,500	
$1,500	
$0	
$12,000	
$4,500	
$7,000	
$25,750	
$50	
$100	
$500	
$6,500	
$700	
$650	
$1,000	
$100	
$175	
$3,537	

$1,200	
$92	
$0	
$1,000	
$0	
$3,775	
$1,000	
$7,000	
$17,168	
$0	
$69	
$49	
$6,188	
$87	
$383	
$667	
$0	
$175	
$0	

$600	
$46	
$700	
$500	
$0	
$2,500	
$3,000	
$0	
$8,582	
$15	
$31	
$68	
$0	
$400	
$192	
$333	
$15	
$0	
$1,050	

$1,800	
$138	
$700	
$1,500	
$0	
$6,275	
$4,000	
$7,000	
$25,750	
$15	
$100	
$117	
$6,188	
$487	
$575	
$1,000	
$15	
$175	
$1,050	

	

	

	

	

	

	

	

Total Expenditures	$68,500		$38,851		$17,386		$54,946	
								
Assigned Fund Balance	$0		$28,260		($15,998)		$13,554	

Net Assessments	$68,500.32	
Plus Collection Fees (5%)	$3,605.28	
Gross Assessments	$72,105.60	
No. of Units	240	
Net Per Unit Assessments	$285.42	
Gross Per Unit Assessments	$300.44	

Page 1

Interlaken
Community Development District	General
Fund
 	_	_	_	_ 	
_

REVENUES:

Maintenance Assessments

The District will levy a Non-Ad Valorem assessment on all the platted lots within the District to pay of the operating expenses for the Fiscal Year in accordance with the adopted budget.

EXPENDITURES:

Administrative:

Supervisor Fees

The Florida Statutes allows each board member to receive $200 per meeting not to exceed $4,800 in one calendar year. The amount for the fiscal year is based upon the five paid supervisors attending the estimated 4 meetings.

FICA Expense

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

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. The District has contracted with Ford Engineers for these services.

Dissemination Agent

The District will contract a firm to act as Dissemination Agent for the District to prepare the Annual Disclosure Report required by the Security and Exchange Commission in order to comply with Rule 15(c)(2)-12(b)(5), which relates to additional reporting requirements for un-rated bond issues.

Assessment Roll
Represents an annual charge for preparing and administrating the District’s assessments on the landowner’s tax bills.

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. The District has contracted with Billing, Cochran, Lyles, Mauro & Ramsey , P.A. for these services.

Annual Audit

The District is required by Florida Statute to arrange for an annual audit of its financial records by an independent certified public accounting firm.

Trustee Fees

The amount represents the fee for the administration of the District’s bond issue to be held by Regions Bank as the appointed Trustee.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services – South Florida, LLC. These services are further outlined in Exhibit "A" of the Management Agreement.

Telephone

Telephone and fax machine.

Page 2

Interlaken
Community Development District	General
Fund
 	_	_	_	_ 	
_

Administrative: (continued)

Postage

Mailing of agenda packages, overnight deliveries, correspondence, etc.

Printing & Binding

Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc.

Insurance

The District's General Liability & Public Officials Liability Insurance policy is with Preferred Governmental Insurance Trust. PGIT specializes in providing insurance coverage to governmental agencies. The amount is based upon similar Community Development Districts.

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

Bank charges and any other miscellaneous expenditures that incurred during the year.

Website Compliance

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.

Office Supplies

Miscellaneous office supplies.

Dues, Licenses & Subscriptions

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

Contingency

Any other contingencies expenditures that are incurred during the year.

Page 3

Interlaken	
Community Development District	

 	
Debt Service	
Series 2012 Special Assessment Bonds	

Revenues		
Interest Income	$0	
Assessments - On Roll	$164,300	
Carry Forward Surplus (1)	$136,289	

	

Adopted	
Budget	
FY2022	

$0
$164,300
$138,736	
$303,036	

$50,000
$57,063
$55,813
$0	
$162,875	
	
$140,161	

Adopted	
Budget	
FY2021	

Actual	
Thru	
5/31/2021	

Projected	
Next	
4 Months	

Projected	
thru	
9/30/2021	

$14	
$160,938	
$139,969	

$8	
$3,362	
$0	

$23	
$164,300	
$139,969	

Description
Total Revenues	$300,589		$300,922		$3,371		$304,292	

Expenditures								

Principal Expense - 11/1	
Interest Expense - 11/1	
Interest Expense - 5/1	
Special Call - 5/1	

$45,000	
$58,341	
$57,216	
$0	

$45,000	
$58,341	
$57,216	
$5,000	

$0	
$0	
$0	
$0	

$45,000	
$58,341	
$57,216	
$5,000	

	

	

 	 	 	
Total Expenditures	$160,556	$165,556	$0	$165,556

Assigned Fund Balance	$140,033	$135,366	$3,371	$138,736

Total
$69,318.34
    $103,628.93  
$172,947.27 ($8,647.36)
$164,299.91

11/1/22 Interest	
11/1/22 Principal	

$ 55,812.50	
$ 50,000.00	
$105,812.50	

(1) Carry forward is net of Reserve.

Land Use	
Townhomes	
Single Family	

No. Units	
91	
89	

Gross Per Unit	
$762	
$1,164	

Less: Comm/Disc	
Total Net	

Page 4

Interlaken	
Community Development District	

Amortization Schedule	
Series 2012, Special Assessment Bonds	

DATE	
BALANCE	
PRINCIPAL	
INTEREST	TOTAL	
 	 	  	
11/1/2021	$	1,950,000.00	$	50,000.00	$	57,062.50	$	107,062.50	
5/1/2022	$	1,900,000.00	$	-	$	55,812.50		
11/1/2022	$	1,900,000.00	$	50,000.00	$	55,812.50	$	161,625.00	
5/2/2023	$	1,850,000.00	$	-	$	54,562.50		
11/2/2023	$	1,850,000.00	$	50,000.00	$	54,562.50	$	159,125.00	
5/1/2024	$	1,800,000.00	$	-	$	53,187.50		
11/1/2024	$	1,800,000.00	$	55,000.00	$	53,187.50	$	161,375.00	
5/1/2025	$	1,745,000.00	$	-	$	51,675.00		
11/1/2025	$	1,745,000.00	$	60,000.00	$	51,675.00	$	163,350.00	
5/1/2026	$	1,685,000.00	$	-	$	50,025.00		
11/1/2026	$	1,685,000.00	$	60,000.00	$	50,025.00	$	160,050.00	
5/2/2027	$	1,625,000.00	$	-	$	48,375.00		
11/2/2027	$	1,625,000.00	$	65,000.00	$	48,375.00	$	161,750.00	
5/1/2028	$	1,560,000.00	$	-	$	46,587.50		
11/1/2028	$	1,560,000.00	$	70,000.00	$	46,587.50	$	163,175.00	
5/1/2029	$	1,490,000.00	$	-	$	44,662.50		
11/1/2029	$	1,490,000.00	$	70,000.00	$	44,662.50	$	159,325.00	
5/1/2030	$	1,420,000.00	$	-	$	42,737.50		
11/1/2030	$	1,420,000.00	$	75,000.00	$	42,737.50	$	160,475.00	
5/2/2031	$	1,345,000.00	$	-	$	40,675.00		
11/2/2031	$	1,345,000.00	$	80,000.00	$	40,675.00	$	161,350.00	
5/1/2032	$	1,265,000.00	$	-	$	38,475.00		
11/1/2032	$	1,265,000.00	$	85,000.00	$	38,475.00	$	161,950.00	
5/1/2033	$	1,180,000.00	$	-	$	36,137.50		
11/1/2033	$	1,180,000.00	$	90,000.00	$	36,137.50	$	162,275.00	
5/1/2034	$	1,090,000.00	$	-	$	33,381.25		
11/1/2034	$	1,090,000.00	$	95,000.00	$	33,381.25	$	161,762.50	
5/2/2035	$	995,000.00	$	-	$	30,471.88		
11/2/2035	$	995,000.00	$	100,000.00	$	30,471.88	$	160,943.75	
5/1/2036	$	895,000.00	$	-	$	27,409.38		
11/1/2036	$	895,000.00	$	105,000.00	$	27,409.38	$	159,818.75	
5/1/2037	$	790,000.00	$	-	$	24,193.75		
11/1/2037	$	790,000.00	$	115,000.00	$	24,193.75	$	163,387.50	
5/1/2038	$	675,000.00	$	-	$	20,671.88		
11/1/2038	$	675,000.00	$	120,000.00	$	20,671.88	$	161,343.75	
5/2/2039	$	555,000.00	$	-	$	16,996.88		
11/2/2039	$	555,000.00	$	125,000.00	$	16,996.88	$	158,993.75	
5/1/2040	$	430,000.00	$	-	$	13,168.75		
11/1/2040	$	430,000.00	$	135,000.00	$	13,168.75	$	161,337.50	
5/1/2041	$	295,000.00	$	-	$	9,034.38		
11/1/2041	$	295,000.00	$	145,000.00	$	9,034.38	$	163,068.75	
5/1/2042	$	150,000.00	$	-	$	4,593.75	$	-	
11/1/2042	$	150,000.00	$	150,000.00	$	4,593.75	$	159,187.50	
Total		
$	1,950,000.00	
$	1,542,731.25	$	3,492,731.25	

Page 5

Interlaken	
Community Development District	

 	
Debt Service	
Series 2015 Special Assessment Bonds	

Revenues		
Interest Income	$0	
Assessments - On Roll	$69,398	
Carry Forward Surplus (1)	$52,823	

	

Adopted	
Budget	
FY2022	

$0
$69,398
$53,966	
$123,364	

$21,000
$24,039
$23,579	
$68,618	
	
$54,745	

Adopted	
Budget	
FY2020	

Actual	
Thru	
5/31/2021	

Projected	
Next	
4 Months	

Projected	
thru	
9/30/2021	

$5	
$67,977	
$53,039	

$2	
$1,420	
$0	

$6	
$69,398	
$53,039	

Description
Total Revenues	$122,220		$121,021		$1,422		$122,443	

Expenditures								

Principal Expense - 11/1	
Interest Expense - 11/1	
Interest Expense - 5/1	

$20,000	
$24,439	
$24,039	

$20,000	
$24,439	
$24,039	

$0	
$0	
($0)	

$20,000	
$24,439	
$24,039	

	

 	 	 	

11/1/22 Interest	
11/1/22 Principal	

Total Expenditures	$68,478	$68,478		($0)	$68,478 Assigned Fund Balance	$53,743	$52,544	$1,422	$53,966

Total
$73,050.00 ($3,652.50)
$69,397.50

$ 22,000.00	
$ 23,579.38	
$45,579	

(1) Carry forward is net of Reserve.

Land Use	
Townhomes	

No. Units	
60	

Gross Per Unit	
$1,218	
Less: Comm/Disc	
Total Net	

Page 6

DATE	
BALANCE	
PRINCIPAL	
INTEREST	TOTAL	
 	 	  	
11/1/2021	$	967,000.00	$	21,000.00	$	24,038.75	$	69,077.50	
5/1/2022	$	946,000.00	$	-	$	23,579.38		
11/1/2022	$	946,000.00	$	22,000.00	$	23,579.38	$	69,158.76	
5/2/2023	$	924,000.00	$	-	$	23,098.13		
11/2/2023	$	924,000.00	$	23,000.00	$	23,098.13	$	69,196.26	
5/1/2024	$	901,000.00	$	-	$	22,595.00		
11/1/2024	$	901,000.00	$	24,000.00	$	22,595.00	$	69,190.00	
5/1/2025	$	877,000.00	$	-	$	22,070.00		
11/1/2025	$	877,000.00	$	25,000.00	$	22,070.00	$	69,140.00	
5/1/2026	$	852,000.00	$	-	$	21,523.13		
11/1/2026	$	852,000.00	$	26,000.00	$	21,523.13	$	69,046.26	
5/2/2027	$	826,000.00	$	-	$	20,954.38		
11/2/2027	$	826,000.00	$	27,000.00	$	20,954.38	$	68,908.76	
5/1/2028	$	799,000.00	$	-	$	20,279.38		
11/1/2028	$	799,000.00	$	28,000.00	$	20,279.38	$	68,558.76	
5/1/2029	$	771,000.00	$	-	$	19,579.38		
11/1/2029	$	771,000.00	$	30,000.00	$	19,579.38	$	69,158.76	
5/1/2030	$	741,000.00	$	-	$	18,829.38		
11/1/2030	$	741,000.00	$	31,000.00	$	18,829.38	$	68,658.76	
5/2/2031	$	710,000.00	$	-	$	18,054.38		
11/2/2031	$	710,000.00	$	33,000.00	$	18,054.38	$	69,108.76	
5/1/2032	$	677,000.00	$	-	$	17,229.38		
11/1/2032	$	677,000.00	$	34,000.00	$	17,229.38	$	68,458.76	
5/1/2033	$	643,000.00	$	-	$	16,379.38		
11/1/2033	$	643,000.00	$	36,000.00	$	16,379.38	$	68,758.76	
5/1/2034	$	607,000.00	$	-	$	15,479.38		
11/1/2034	$	607,000.00	$	38,000.00	$	15,479.38	$	68,958.76	
5/2/2035	$	569,000.00	$	-	$	14,529.38		
11/2/2035	$	569,000.00	$	40,000.00	$	14,529.38	$	69,058.76	
5/1/2036	$	529,000.00	$	-	$	13,529.38		
11/1/2036	$	529,000.00	$	42,000.00	$	13,529.38	$	69,058.76	
5/1/2037	$	487,000.00	$	-	$	12,479.38		
11/1/2037	$	487,000.00	$	44,000.00	$	12,479.38	$	68,958.76	
5/1/2038	$	443,000.00	$	-	$	11,351.88		
11/1/2038	$	443,000.00	$	46,000.00	$	11,351.88	$	68,703.75	
5/2/2039	$	397,000.00	$	-	$	10,173.13		
11/2/2039	$	397,000.00	$	49,000.00	$	10,173.13	$	69,346.25	
5/1/2040	$	348,000.00	$	-	$	8,917.50		
11/1/2040	$	348,000.00	$	51,000.00	$	8,917.50	$	68,835.00	
5/1/2041	$	297,000.00	$	-	$	7,610.63		
11/1/2041	$	297,000.00	$	54,000.00	$	7,610.63	$	69,221.25	
5/1/2042	$	243,000.00	$	-	$	6,226.88	$	-	
11/1/2042	$	243,000.00	$	56,000.00	$	6,226.88	$	68,453.75	
5/1/2043	$	187,000.00	$	-	$	4,791.88	$	-	
11/1/2043	$	187,000.00	$	59,000.00	$	4,791.88	$	68,583.75	
5/1/2044	$	128,000.00	$	-	$	3,280.00	$	-	
11/1/2044	$	128,000.00	$	62,000.00	$	3,280.00	$	68,560.00	
5/1/2045	$	66,000.00	$	-	$	1,691.25	$	-	
11/1/2045	$	66,000.00	$	66,000.00	$	1,691.25	$	69,382.50	

Total

$	967,000.00	$

732,502.64	$

1,723,541.39

Interlaken	
Community Development District	

Amortization Schedule	
Series 2015, Special Assessment Bonds	

 	  

***Prepared by FMS Bonds

Page 7