Griffin Lakes	
Community Development District	

Approved Proposed Budget	
FY 2027	

Table of Contents

1-2

3-6

7-8

	General Fund

	Narratives

	Debt Service Fund Series 2020

9		Assessment Schedules

Option 3	
Adopted
Budget	Actuals Thru	Projected Next	Projected Thru
Description	FY2026	3/31/26	6 Months	9/30/26	Approved Proposed Budget	
	FY 2027	

REVENUES:
Special Assessments - On Roll	

$	627,571	

$	581,440	

$	46,131	

$	627,571	

$	547,293	
Interest income	10,000	10,265	4,735	15,000	10,000	
Carry Forward Surplus	-	-	33,805	33,805	20,500	
TOTAL REVENUES	$	637,571	$	591,705	$	84,671	$	676,376	$	577,793	
EXPENDITURES:						
Administrative						
Supervisor Fees	$	12,000	$	3,800	$	6,000	$	9,800	$	12,000	
FICA Taxes	918	291	459	750	918	
Engineering	10,000	-	-	-	10,000	
Attorney	13,000	6,985	6,015	13,000	18,000	
Annual Audit	4,800	4,800	-	4,800	5,000	
Assessment Administration	4,200	4,200	-	4,200	4,452	
Dissemination Agent	1,113	557	557	1,113	1,180	
Trustee Fees	4,100	4,041	-	4,041	4,500	
Management Fees	25,071	12,536	12,536	25,071	26,575	
Property Appraiser	854	854	-	854	854	
Information Technology	557	279	278	557	590	
Website Maintenance	1,224	612	612	1,224	1,297	
Telephone	50	-	25	25	50	
Postage & Delivery	175	85	85	170	200	
Insurance General Liability	9,424	8,410	-	8,410	9,251	
Printing & Binding	400	38	50	88	400	
Legal Advertising	500	-	700	700	800	
Contingency	1,530	750	1,170	1,920	1,920	
Office Supplies	50	-	25	25	50	
Dues, Licenses & Subscriptions	175	175	-	175	175	
Total Administrative	$	90,141	$	48,411	$	28,511	$	76,923	$	98,213	
Operations & Maintenance
Field Expenditures

Field Management	

$	20,034	

$	10,017	

$	10,017	

$	20,034	

$	21,236	
Lake and Wetland Maintenance	5,414	2,706	2,706	5,412	4,800	
Fountain Maintenance	2,030	810	690	1,500	2,030	
Landscape Maintenance	7,285	3,536	3,536	7,073	6,693	
Plant Replacement	25,000	4,528	20,472	25,000	25,000	
Mulch	9,620	4,949	5,760	10,709	11,520	
Tree Pruning/Trimming	8,755	-	8,755	8,755	16,701	
Irrigation Repair & Maintenance	6,604	1,326	5,231	6,557	8,280	
Pest Control	6,890	3,345	3,345	6,690	7,800	
Utility - Stormwater Tax	420	415	-	415	420	
Repairs & Maintenance	4,000	-	4,000	4,000	4,000	
Stormwater Drain System	10,000	-	10,000	10,000	10,000	
Contingency	10,000	-	7,626	7,626	11,100	
Reserve	30,000	-	30,000	30,000	30,000	
Total Field Expenditures	$	146,052	$	31,632	$	112,138	$	143,770	$	159,580	

Option 3	
Adopted
Budget	Actuals Thru	Projected Next	Projected Thru
Description	FY2026	3/31/26	6 Months	9/30/26	Approved Proposed Budget	
	FY 2027	

Projects

Fence Repair	

$	100,000	

$	-	

$	-	

$	-	

$	-	
Lake Restoration	301,378	3,289	431,894	435,183	320,000	
Total Projects	$	401,378	$	3,289	$	431,894	$	435,183	$	320,000	
		
TOTAL EXPENDITURES	$	637,571	$	83,332	$	572,543	$	655,876	$	577,793	
		
EXCESS REVENUES (EXPENDITURES)	$	-	$	508,373	$	(487,872)	$	20,500	$	-	

Option 3:	

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

Single Family	427	$	582,226.60	$	1,563.53	$	1,363.53	$	(200.00)	

Total	427	$  582,226.60	
Less: Discounts & Collections 5%			-		
Net Assessments		 $	582,226.60 	

REVENUES	
Special Assessments-Tax Roll	
The District will levy a Non-Ad Valorem assessment on all sold and platted parcels within the District in order to pay for the operating expenditures during the Fiscal Year.	
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 12 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	
The District's engineer 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.	
Attorney	
The District’s Attorney, will be providing general legal services to the District, i.e., attendance and preparation for monthly Board meetings, review of contracts, review of agreements and resolutions, and other research assigned as directed by the Board of Supervisors and the District Manager.	
Annual Audit	
The District is required to conduct an annual audit of its financial records by an Independent Certified Public Accounting Firm. The budgeted amount for the fiscal year is based on contracted fees from the previous year engagement plus anticipated increase.	
Assessment Roll Administration	
GMS SF, LLC provides assessment services for closing lot sales, assessment roll services with the local Tax Collector and financial advisory services.	
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.	
Property Appraiser	
The Broward County Board of Commissioners provides the District with a listing of the legal description of each property parcel within the District boundaries, and the names and addresses of the owners of such property. The District reimburses the Board of Commissioners for necessary administrative costs incurred to provide this service. Per the Florida Statutes, administrative costs shall include, but not be limited to, those costs associated with personnel, forms, supplies, data processing, computer equipment, postage, and programming. The budget for Board
of Commissioners costs was based on a unit price per parcel.	

Expenditures - Administrative (continued)				
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.	
Communication - Telephone				
New internet and Wi-Fi service for Office.				
Postage and Delivery				
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.	
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				
Copies used in the preparation 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.	
Contingencies				
This includes monthly bank charges and any other miscellaneous expenses that incur during the year.	
Office Supplies				
Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects.	
Due, Licenses & Subscriptions				
The District is required to pay an annual fee to the Florida Department of Commerce for $175.	
Expenditures – Field				
Field Manager				
The District currently contracts with GMS to operate the Property and its contractors.	
Vendor	Description	monthly	Total	
GMS	Operating	$	1,770	$	21,236	
Lake and Wetland Maintenance				
Monthly maintenance will consist of inspection and treatment including algae, border grass, and invasive exotic plant control. The vendor will visit the site monthly with treatments as necessary to control undesired growth. [5 lakes]	
Vendor	Description	monthly	Total	
Southeast  Land	and	Water	Lake maintenance	$	400	$	4,800	

Expenditures – Field (continued)				
Fountain Maintenance				
The District has a contract with Fountain Design Group, Inc for preventive maintenance and repairs of the 2 lake fountains. Includes a 3% increase.	
Vendor	Description	quarterly	Total	
Fountain Design	Fountain maintenance	$	258	$	1,030	
Fountain Design	Repairs		$	1,000	
		Total	
$	2,030	
Landscape Maintenance				
The District has a contract with Cutters Edge to provide turf maintenance landscape detail for the District.	
Vendor	Description	monthly	Total	
Cutters Edge	Landscape maint (32)	$	533	$	6,400	
Cutters Edge	Turf maint 2x per year	$	147	$	293	
		Total	
$	6,693	
Plant Replacement				
This is for landscape enhancement projects.				
Mulch				
The District has a contract with Cutters Edge to provide mulching of the beds and brown mulch in April and November.	
Vendor	Description		Total	
Cutters Edge	Mulch April		$	5,760	
Cutters Edge	Mulch November		$	5,760	
		Total	
$	11,520	
Tree Pruning/Trimming				
This is for annual tree/palms pruning and trimming by Cutters Edge.	
Irrigation Maintenance				
The District has a contract with Cutters Edge to provide 12 irrigation wet checks for the District.	
Vendor	Description	monthly	Total	
Cutters Edge	Irrigation maintenance	$	273	$	3,280	
Cutters Edge	Repairs	n/a	 $	5,000 	
		Total	$	8,280	
Pest Control				
The District has a contract with Cutters Edge to provide pest control and turf/ornamental fertilization for the District. 10 IPM spotcheck treatments per year.	
Vendor	Description	monthly	Total	
Cutters Edge	Pest Control	$	650	$	7,800	
Utility Stormwater				
Broward County Tax Collector Dania storm water for non – ad valorem assessments for these account numbers: 504232-52-0580, 504232-52-0590, 504232-52-0600 and 504232-52-0610	
Repair and Maintenance				
Represents costs for repair and maintenance within the District property.	
Stormwater Drain System				
The District contracted Raptor Vac Systems to provide catch basins cleaning and inspections.	
Miscellaneous -Contingency				
The District may incur field expenses that may arise to maintain the District property (lakes and landscaping).	

Expenditures – Field (continued)					
Reserves					
Reserves for future projects.					
Expenditures – Projects					
Lake Restoration					
The second phase of the Lake Restoration Project involves installing GEO Tubes in Lakes 1 & 2 and necessary repairs to pipes for the drainage system. Engineering fees and permits are not included.	
Current & Future Estimated Costs	
	FY26	FY27	FY28	Total	
Lake 1 & 2	$	421,894			$	421,894	
Lake 4 & 5	$	270,000		$	270,000	
Lake 3		$	370,000	$	370,000	
			$  1,061,894	

Griffin Lakes	
Community Development District	
Approved Proposed Budget	
Debt Service Series 2020 Special Assessment Refunding Bonds	

Adopted Budget	
Actuals Thru	
Projected Next	
Projected Thru	Approved Proposed Budget	
Description	FY2026	3/31/26	6 Months	9/30/26	FY 2027	

REVENUES:

Special Assessments-On Roll	$	267,544	$	247,650	$	19,894	$	267,544	$	267,544	
Interest Earnings	1,200	1,005	855	1,860	1,000	
Carry Forward Surplus (1)	89,014	66,934	-	66,934	67,570	

TOTAL REVENUES	$	357,757	$	315,589	$	20,749	$	336,338	$	336,114	

EXPENDITURES:

Interest 11/1	$	24,384	$	24,384	$	-	$	24,384	$	21,590	
Principal - 11/1	220,000	-	220,000	220,000	225,000	
Interest - 5/1	24,384	-	24,384	24,384	21,590	

TOTAL EXPENDITURES	$	268,768	$	24,384	$	244,384	$	268,768	$	268,180	

EXCESS REVENUES (EXPENDITURES)	$	88,989	$	291,205	$	(223,635)	$	67,570	$	67,934	

Interest Due 11/1/27	$	18,733	

(1) Carry Forward is Net of Reserve Requirement

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

Single Family	427	$	284,621.12	$	666.56	$	666.56	$	-	

Total	427	$ 284,621.12	
Less: Discounts & Collections 5%			17,077.26 	
Net Assessments		 $	267,543.86 	

Griffin Lakes	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2020 Special Assessment Refunding Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

08/28/20	$	2,945,000	2.540%	$	-	$	13,091	$	13,091	
11/01/20	2,945,000	2.540%	-	$37,402		
05/01/21	2,945,000	2.540%	195,000	$37,402	$269,803	
11/01/21	2,750,000	2.540%	-	$34,925		
05/01/22	2,750,000	2.540%	200,000	$34,925	$269,850	
11/01/22	2,550,000	2.540%	-	$32,385		
05/01/23	2,550,000	2.540%	205,000	$32,385	$269,770	
11/01/23	2,345,000	2.540%	-	$29,782		
05/01/24	2,345,000	2.540%	210,000	$29,782	$269,563	
11/01/24	2,135,000	2.540%	-	$27,115		
05/01/25	2,135,000	2.540%	215,000	$27,115	$269,229	
11/01/25	1,920,000	2.540%	-	$24,384		
05/01/26	1,920,000	2.540%	220,000	$24,384	$268,768	
11/01/26	1,700,000	2.540%	-	$21,590		
05/01/27	1,700,000	2.540%	225,000	$21,590	$268,180	
11/01/27	1,475,000	2.540%	-	$18,733		
05/01/28	1,475,000	2.540%	230,000	$18,733	$267,465	
11/01/28	1,245,000	2.540%	-	$15,812		
05/01/29	1,245,000	2.540%	235,000	$15,812	$266,623	
11/01/29	1,010,000	2.540%	-	$12,827		
05/01/30	1,010,000	2.540%	245,000	$12,827	$270,654	
11/01/30	765,000	2.540%	-	$9,716		
05/01/31	765,000	2.540%	250,000	$9,716	$269,431	
11/01/31	515,000	2.540%	-	$6,541		
05/01/32	515,000	2.540%	255,000	$6,541	$268,081	
11/01/32	260,000	2.540%	-	$3,302		
05/01/33	260,000	2.540%	260,000	$3,302	$266,604	

TOTAL	$	2,945,000	$	562,112	$	3,507,112	

Option 3:

Griffin Lakes
Community Development District
Non-Ad Valorem Assessments Comparison 2026-2027

Neighborhood	O&M Units	Bonds Units
2020	
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	

427	

427	

$1,363.53	

$1,563.53	

-$200.00	

$666.56	

$666.56	

$0.00	

$2,030.09	

$2,230.09	

-$200.00	
Total	427	427										

Page 9