Keys Cove II Community Development District

Amended Final Budget For Fiscal Year 2024/2025
October 1, 2024 - September 30, 2025

CONTENTS

I

AMENDED FINAL OPERATING FUND BUDGET

II

AMENDED FINAL DEBT SERVICE FUND BUDGET

AMENDED FINAL BUDGET
KEYS COVE II COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

I

$202,031

($191,710)

$10,321

FUND BALANCE AS OF 9/30/24

FY 2024/2025 ACTIVITY

FUND BALANCE AS OF 9/30/25

REVENUES

FISCAL YEAR 2024/2025 BUDGET 10/1/24 - 9/30/25

AMENDED FINAL BUDGET
10/1/24 - 9/30/25

YEAR TO DATE ACTUAL
10/1/24 - 9/29/25

ADMINISTRATIVE ASSESSMENTS

110,087

113,928

113,928

MAINTENANCE ASSESSMENTS

817,021

817,021

817,021

DEBT ASSESSMENTS

314,530

314,530

314,530

OTHER REVENUES

0

0

0

INTEREST INCOME

1,200

13,900

13,717

TOTAL REVENUES

$	1,242,838

$	1,259,379

$	1,259,196

ADMINISTRATIVE EXPENDITURES

SUPERVISOR FEES

8,000

3,200

3,200

PAYROLL TAXES

612

212

212

MANAGEMENT

37,620

37,620

37,620

SECRETARIAL & FIELD OPERATIONS

9,000

9,000

9,000

LEGAL

12,000

19,610

19,610

ASSESSMENT ROLL

10,000

10,000

10,000

AUDIT FEES

3,800

3,400

3,400

ARBITRAGE REBATE FEE

650

0

0

INSURANCE

8,500

8,796

8,796

LEGAL ADVERTISING

2,000

5,200

4,146

MISCELLANEOUS

1,700

2,600

2,360

POSTAGE

825

875

836

OFFICE SUPPLIES

700

600

530

DUES & SUBSCRIPTIONS

175

175

175

TRUSTEE FEES

4,700

4,246

4,246

CONTINUING DISCLOSURE FEE

500

350

350

WEBSITE MANAGEMENT

2,000

2,000

2,000

ADMINISTRATIVE CONTINGENCY

1,900

1,900

0

TOTAL ADMINISTRATIVE EXPENDITURES

$	104,682

$	109,784

$	106,481

MAINTENANCE EXPENDITURES

ENGINEERING/INSPECTIONS

3,000

5,947

5,947

ANNUAL LANDSCAPE & IRRIGATION MAINTENANCE SERVICES

280,000

320,000

297,473

LANDSCAPING UPKEEP

35,000

2,500

0

IRRIGATION MAINTENANCE & UPKEEP

25,000

44,000

38,243

STREET/ROADWAY MAINTENANCE & UPKEEP

15,000

80,000

76,046

SECURITY SERVICES/ENTRANCE & PARKING ENFORCEMENT

142,000

180,000

167,184

OFF DUTY POLICE

25,000

11,000

10,229

GUARD HOUSE UTILITIES & GATE MAINTENANCE

20,000

25,000

22,440

FP&L POWER - STREET LIGHTS/IRRIGATION PUMP STATIONS

40,000

24,450

24,450

STREET LIGHTING REPAIR/MAINTENANCE

18,000

60,000

54,885

LAKE FOUNTAIN INSTALLATION/MAINTENANCE

50,000

2,500

0

JANITORIAL SERVICES

45,000

56,000

53,320

PLAYGROUND MAINTENANCE

5,000

500

0

MISCELLANEOUS MAINTENANCE

35,000

115,000

100,598

RODENT CONTROL

0

480

300

HOLIDAY LIGHTING

30,000

54,185

54,185

TOTAL MAINTENANCE EXPENDITURES

$	768,000

$	981,562

$	905,300

TOTAL EXPENDITURES

$	872,682

$	1,091,346

$	1,011,781

EXCESS/ (SHORTFALL)

$	370,156

$	168,033

$	247,415

BOND PAYMENTS

(295,658)

(300,421)

(300,421)

BALANCE

$	74,498

$	(132,388)

$	(53,006)

COUNTY APPRAISER & TAX COLLECTOR FEE

(24,832)

(11,959)

(11,959)

DISCOUNTS FOR EARLY PAYMENTS

(49,666)

(47,363)

(47,363)

EXCESS/ (SHORTFALL)

$	-

$	(191,710)

$	(112,328)

CARRYOVER FROM PRIOR YEAR

0

0

0

NET EXCESS/ (SHORTFALL)

$	-

$	(191,710)

$	(112,328)

AMENDED FINAL BUDGET
KEYS COVE II COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

Note*: Revenue Fund Balance = $99,909. Prepayment Fund Balance = $2,329.
Interest Account Balance To Be Used To Make 11/1/2025 Interest Payment Of $47,335.
* Approximate Amounts

Series 2022 Bond Refunding Information

Original Par Amount = Interest Rate =
Issue Date = Maturity Date =

$3,264,000 3.63%
May 2022
May 2036

Annual Principal Payments Due = May 1st
Annual Interest Payments Due = May 1st & November 1st

Par Amount As Of 9/30/25 =

$2,608,000

$91,508

$10,730

$102,238

FUND BALANCE AS OF 9/30/24

FY 2024/2025 ACTIVITY

FUND BALANCE AS OF 9/30/25

REVENUES

FISCAL YEAR 2024/2025 BUDGET 10/1/24 - 9/30/25

AMENDED FINAL BUDGET
10/1/24 - 9/30/25

YEAR TO DATE ACTUAL
10/1/24 - 9/29/25

Interest Income

400

6,022

6,022

NAV Tax Collection

295,658

300,421

300,421

Total Revenues

$	296,058

$	306,443

$	306,443

EXPENDITURES

Principal Payments

194,000

194,000

194,000

Interest Payments

98,192

101,713

101,713

Bond Redemption

3,866

0

0

Total Expenditures

$	296,058

$	295,713

$	295,713

EXCESS/ (SHORTFALL)

$	-

$	10,730

$	10,730