Keys Cove II Community Development District

Proposed Budget For Fiscal Year 2025/2026
October 1, 2025 - September 30, 2026

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

PROPOSED BUDGET
KEYS COVE II COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	
FISCAL YEAR 2025/2026 BUDGET	
ADMINISTRATIVE ASSESSMENTS	112,247	
MAINTENANCE ASSESSMENTS	1,071,276	
DEBT ASSESSMENTS	314,530	
OTHER REVENUES	0	
INTEREST INCOME	1,800	
		
TOTAL REVENUES	$	1,499,853	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
ENGINEERING/INSPECTIONS	3,000	
ANNUAL LANDSCAPING SERVICES	290,000	
LANDSCAPING UPKEEP	35,000	
IRRIGATION MAINTENANCE & UPKEEP	24,000	
STORMWATER MANAGEMENT SYSTEM MAINTENANCE	15,000	
STREET/ROADWAY MAINTENANCE & UPKEEP	30,000	
SECURITY SERVICES/ENTRANCE & PARKING ENFORCEMENT	320,000	
OFF DUTY POLICE SERVICES	20,000	
GUARD HOUSE UTILITIES & GATE MAINTENANCE	25,000	
FP&L POWER - STREET LIGHTS/IRRIGATION PUMP STATIONS	30,000	
STREET LIGHT MAINTENANCE	35,000	
LAKE FOUNTAIN INSTALLATION/MAINTENANCE	45,000	
JANITORIAL SERVICES	45,000	
HOLIDAY LIGHTING	30,000	
PLAYGROUND MANTENANCE	5,000	
PAVER RESTORATION & ROOT REMOVAL	0	
MISCELLANEOUS MAINTENANCE	55,000	
TOTAL MAINTENANCE EXPENDITURES	$	1,007,000	
		
ADMINISTRATIVE EXPENDITURES		
SUPERVISOR FEES	8,000	
PAYROLL TAXES (EMPLOYER)	612	
MANAGEMENT	38,700	
SECRETARIAL & FIELD OPERATIONS	9,000	
LEGAL	12,000	
ASSESSMENT ROLL	10,000	
AUDIT FEES	3,500	
ARBITRAGE REBATE FEE	0	
INSURANCE	9,200	
LEGAL ADVERTISING	4,000	
MISCELLANEOUS	1,700	
POSTAGE	825	
OFFICE SUPPLIES	700	
DUES & SUBSCRIPTIONS	175	
TRUSTEE FEES	4,500	
CONTINUING DISCLOSURE FEE	500	
WEBSITE MANAGEMENT	2,000	
ADMINISTRATIVE CONTINGENCY	1,900	
		
TOTAL ADMINISTRATIVE EXPENDITURES	$	107,312	
		
TOTAL EXPENDITURES	$	1,114,312	
		
REVENUES LESS EXPENDITURES	$	385,541	
		
BOND PAYMENTS	(295,658)	
		
BALANCE	$	89,883	
		
COUNTY APPRAISER & TAX COLLECTOR FEE	(29,961)	
DISCOUNTS FOR EARLY PAYMENTS	(59,922)	
		
EXCESS/ (SHORTFALL)	$	-	
		
CARRYOVER FROM PRIOR YEAR	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED PROPOSED BUDGET
KEYS COVE II COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	
FISCAL YEAR 2023/2024 ACTUAL	
FISCAL YEAR 2024/2025 BUDGET	
FISCAL YEAR 2025/2026 BUDGET	

COMMENTS	
ADMINISTRATIVE ASSESSMENTS	94,436	110,087	112,247	Expenditures Less Interest & Carryover (35%)/.94	
MAINTENANCE ASSESSMENTS	637,596	817,021	1,071,276	Expenditures Less Carryover (65%)/.94	
DEBT ASSESSMENTS	314,530	314,530	314,530	Bond Payments/.94	
OTHER REVENUES	52,727	0	0		
INTEREST INCOME	25,395	1,200	1,800	Interest Projected At $150 Per Month	
					
TOTAL REVENUES	$	1,124,684	$	1,242,838	$	1,499,853		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
ENGINEERING/INSPECTIONS	1,870	3,000	3,000	No Change From 2024/2025 Budget	
ANNUAL LANDSCAPING SERVICES	386,887	280,000	290,000	$10,000 Increase From 2024/2025 Budget	
LANDSCAPING UPKEEP	0	35,000	35,000	$5,000 Decrease From 2024/2025 Budget	
IRRIGATION MAINTENANCE & UPKEEP	19,805	25,000	24,000	$1,000 Decrease From 2024/2025 Budget	
STORMWATER MANAGEMENT SYSTEM MAINTENANCE	0	0	15,000	Stormwater Management System Maintenance	
STREET/ROADWAY MAINTENANCE & UPKEEP	0	15,000	30,000	$15,000 Increase From 2024/2025 Budget	
SECURITY SERVICES/ENTRANCE & PARKING ENFORCEMENT	148,211	142,000	320,000	$178,000 Increase From 2024/2025 Budget	
OFF DUTY POLICE SERVICES	6,678	25,000	20,000	Off Duty Police Services	
GUARD HOUSE UTILITIES & GATE MAINTENANCE	36,073	20,000	25,000	$5,000 Increase From 2024/2025 Budget	
FP&L POWER - STREET LIGHTS/IRRIGATION PUMP STATIONS	18,790	40,000	30,000	$10,000 Decrease From 2024/2025 Budget	
STREET LIGHT MAINTENANCE	28,190	18,000	35,000	$17,000 Increase From 2024/2025 Budget	
LAKE FOUNTAIN INSTALLATION/MAINTENANCE	0	50,000	45,000	$5,000 Decrease From 2024/2025 Budget	
JANITORIAL SERVICES	49,797	45,000	45,000	No Change From 2024/2025 Budget	
HOLIDAY LIGHTING	35,800	30,000	30,000	No Change From 2024/2025 Budget	
PLAYGROUND MANTENANCE	41,728	5,000	5,000	No Change From 2024/2025 Budget	
PAVER RESTORATION & ROOT REMOVAL	39,496	0	0	Fiscal Year 2023/2024 Expenditure	
MISCELLANEOUS MAINTENANCE	75,176	35,000	55,000	$20,000 Increase From 2024/2025 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	888,501	$	768,000	$	1,007,000		
					
ADMINISTRATIVE EXPENDITURES					
SUPERVISOR FEES	3,000	8,000	8,000	Supervisor Fees	
PAYROLL TAXES (EMPLOYER)	211	612	612	Supervisor Fees * 7.65%	
MANAGEMENT	36,528	37,620	38,700	CPI Adjustment	
SECRETARIAL & FIELD OPERATIONS	9,000	9,000	9,000	No Change From 2024/2025 Budget	
LEGAL	12,710	12,000	12,000	FY 2024/2025 Expenditure Through Jan 25 Was $4,343	
ASSESSMENT ROLL	10,000	10,000	10,000	As Per Contract	
AUDIT FEES	3,700	3,800	3,500	Accepted Amount For 2024/2025 Audit	
ARBITRAGE REBATE FEE	0	650	0	Report No Longer Required (Due To Refunding)	
INSURANCE	8,122	8,500	9,200	FY 2024/2025 Expenditure Was $8,796	
LEGAL ADVERTISING	6,498	2,000	4,000	Costs Have Increased Due To Closing Of The Miami Business Review	
MISCELLANEOUS	1,741	1,700	1,700	No Change From 2024/2025 Budget	
POSTAGE	813	825	825	No Change From 2024/2025 Budget	
OFFICE SUPPLIES	839	700	700	No Change From 2024/2025 Budget	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2024/2025 Budget	
TRUSTEE FEES	4,246	4,700	4,500	$200 Decrease From 2024/2025 Budget	
CONTINUING DISCLOSURE FEE	500	500	500	No Change From 2024/2025 Budget	
WEBSITE MANAGEMENT	2,000	2,000	2,000	No Change From 2024/2025 Budget	
ADMINISTRATIVE CONTINGENCY	0	1,900	1,900	Administrative Contingency	
					
TOTAL ADMINISTRATIVE EXPENDITURES	$	100,083	$	104,682	$	107,312		
					
TOTAL EXPENDITURES	$	988,584	$	872,682	$	1,114,312		
					
REVENUES LESS EXPENDITURES	$	136,100	$	370,156	$	385,541		
					
BOND PAYMENTS	(299,445)	(295,658)	(295,658)	2026 Principal & Interest Payments	
					
BALANCE	$	(163,345)	$	74,498	$	89,883		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(10,053)	(24,832)	(29,961)	Two Percent Of Total Assessment Roll	
DISCOUNTS FOR EARLY PAYMENTS	(40,030)	(49,666)	(59,922)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	(213,428)	$	-	$	-		
					
CARRYOVER FROM PRIOR YEAR	0	0	0	Carryover Balance From Prior Year	
	.				
NET EXCESS/ (SHORTFALL)	$	(213,428)	$	-	$	-		

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
KEYS COVE II COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	FISCAL YEAR 2023/2024 ACTUAL	FISCAL YEAR 2024/2025 BUDGET	FISCAL YEAR 2025/2026 BUDGET	

COMMENTS	

Interest Income	
6,427	
400	
1,000	
Projected Interest For 2025/2026	

Prepaid Bond Collection	
0	
0	
0	
Prepaid Bond Collection	

NAV Tax Collection	
299,445	
295,658	
295,658	
Yearly Maximum Debt Assessment	

Total Revenues	
$	305,872	
$	296,058	
$	296,658		

EXPENDITURES					

Principal Payments	
187,000	
194,000	
206,000	
Principal Payment Due In 2026	

Interest Payments	
108,501	
98,192	
89,432	
Interest Payments Due In 2026	

Bond Redemption	
0	
3,866	
1,226	
Estimated Excess Debt Collections	

Total Expenditures	
$	295,501	
$	296,058	
$	296,658		

Excess/ (Shortfall)	
$	10,371	
$	-	
$	-		

Series 2022 Bond Refunding Information
Original Par Amount =	$3,264,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	3.63%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	May 2022			
Maturity Date =

Principal Balance As Of 1/1/25 =	May 2036

$2,802,000			

Keys Cove II Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year
2022/2023	2023/2024	2024/2025	2025/2026
	Assessment*	  Assessment*	 	Assessment*	  Projected Assessment* 

Administrative For Townhome Condominiums	$	110.13	$	110.13	$	118.89	$	121.22	
Maintenance For Townhome Condominiums	$	677.59	$	677.59	$	882.32	$	1,156.89	
Debt For Townhome Condominiums	$	690.52	$	690.52	$	690.52	 $	690.52	
Total	$	1,478.24	$	1,478.24	$	1,691.73	$	1,968.63	

Administrative For Executive Townhomes	
$	110.13	
$	110.13	
$	118.89	
$	121.22	
Maintenance For Executive Townhomes	$	677.59	$	677.59	$	882.32	$	1,156.89	
Debt For Executive Townhomes	$	838.49	$	838.49	$	838.49	 $	838.49	
Total	$	1,626.21	$	1,626.21	$	1,839.70	$	2,116.60	

* Assessments Include the Following :	 4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee

 Community Information:	

Townhome Condominiums	520	
Executive Townhomes	406	
Total Units	926	

 Townhome Condominiums Information	

Total Units	520	
Prepayments	328	
Billed For Debt	192	

 Executive Townhomes Information		
Total Units	406	
Prepayments	189	
Billed For Debt	217	

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