Keys Cove II Community Development District

Proposed Budget For Fiscal Year 2026/2027
October 1, 2026 - September 30, 2027

CONTENTS

I

PROPOSED BUDGET

II

DETAILED PROPOSED BUDGET

III

DETAILED PROPOSED DEBT SERVICE FUND BUDGET

IV

ASSESSMENT COMPARISON

PROPOSED BUDGET
KEYS COVE II COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

I

REVENUES

FISCAL YEAR 2026/2027 BUDGET

ADMINISTRATIVE ASSESSMENTS

115,723

MAINTENANCE ASSESSMENTS

1,067,766

DEBT ASSESSMENTS

314,530

OTHER REVENUES

0

INTEREST INCOME

2,100

TOTAL REVENUES

$	1,500,119

EXPENDITURES

MAINTENANCE EXPENDITURES

ENGINEERING/INSPECTIONS

3,000

ANNUAL LANDSCAPING SERVICES

230,000

LANDSCAPING UPKEEP (MULCH,TREE TRIMMING,ANNUAL,ETC.)

75,000

IRRIGATION MAINTENANCE & UPKEEP

28,000

STORMWATER MANAGEMENT SYSTEM MAINTENANCE

15,000

STREET/ROADWAY MAINTENANCE & UPKEEP

40,000

SECURITY SERVICES/ENTRANCE & PARKING ENFORCEMENT

320,000

OFF DUTY POLICE SERVICES

25,000

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

34,000

JANITORIAL SERVICES

45,000

HOLIDAY LIGHTING

30,000

PLAYGROUND MANTENANCE

5,000

MISCELLANEOUS MAINTENANCE

63,700

TOTAL MAINTENANCE EXPENDITURES

$	1,003,700

ADMINISTRATIVE EXPENDITURES

SUPERVISOR FEES

7,000

PAYROLL TAXES (EMPLOYER)

536

MANAGEMENT

39,744

SECRETARIAL & FIELD OPERATIONS

9,000

LEGAL

16,000

ASSESSMENT ROLL

10,000

AUDIT FEES

3,600

INSURANCE

9,400

LEGAL ADVERTISING

4,000

MISCELLANEOUS

2,000

POSTAGE

825

OFFICE SUPPLIES

700

DUES & SUBSCRIPTIONS

175

TRUSTEE FEES

4,400

CONTINUING DISCLOSURE FEE

500

WEBSITE MANAGEMENT

2,000

ADMINISTRATIVE CONTINGENCY

1,000

TOTAL ADMINISTRATIVE EXPENDITURES

$	110,880

TOTAL EXPENDITURES

$	1,114,580

REVENUES LESS EXPENDITURES

$	385,539

BOND PAYMENTS

(295,658)

BALANCE

$	89,881

COUNTY APPRAISER & TAX COLLECTOR FEE

(29,960)

DISCOUNTS FOR EARLY PAYMENTS

(59,921)

EXCESS/ (SHORTFALL)

$	-

CARRYOVER FROM PRIOR YEAR

0

NET EXCESS/ (SHORTFALL)

$	-

DETAILED PROPOSED BUDGET
KEYS COVE II COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

II

REVENUES

FISCAL YEAR 2024/2025 ACTUAL

FISCAL YEAR 2025/2026 BUDGET

FISCAL YEAR 2026/2027 BUDGET

COMMENTS

ADMINISTRATIVE ASSESSMENTS

113,978

112,247

115,723

Expenditures Less Interest & Carryover (35%)/.94

MAINTENANCE ASSESSMENTS

817,021

1,071,276

1,067,766

Expenditures Less Carryover (65%)/.94

DEBT ASSESSMENTS

314,530

314,530

314,530

Bond Payments/.94

OTHER REVENUES

0

0

0

INTEREST INCOME

14,996

1,800

2,100

Interest Projected At $175 Per Month

TOTAL REVENUES

$	1,260,525

$	1,499,853

$	1,500,119

EXPENDITURES

MAINTENANCE EXPENDITURES

ENGINEERING/INSPECTIONS

5,947

3,000

3,000

No Change From 2025/2026 Budget

ANNUAL LANDSCAPING SERVICES

320,173

290,000

230,000

$60,000 Decrease From 2025/2026 Budget

LANDSCAPING UPKEEP (MULCH,TREE TRIMMING,ANNUAL,ETC.)

0

35,000

75,000

$40,000 Increase From 2025/2026 Budget

IRRIGATION MAINTENANCE & UPKEEP

38,243

24,000

28,000

$4,000 Increase From 2025/2026 Budget

STORMWATER MANAGEMENT SYSTEM MAINTENANCE

0

15,000

15,000

No Change From 2025/2026 Budget

STREET/ROADWAY MAINTENANCE & UPKEEP

76,045

30,000

40,000

$10,000 Increase From 2025/2026 Budget

SECURITY SERVICES/ENTRANCE & PARKING ENFORCEMENT

167,184

320,000

320,000

No Change From 2025/2026 Budget

OFF DUTY POLICE SERVICES

10,229

20,000

25,000

$5,000 Increase From 2025/2026 Budget

GUARD HOUSE UTILITIES & GATE MAINTENANCE

22,440

25,000

25,000

No Change From 2025/2026 Budget

FP&L POWER - STREET LIGHTS/IRRIGATION PUMP STATIONS

24,450

30,000

30,000

No Change From 2025/2026 Budget

STREET LIGHT MAINTENANCE

54,885

35,000

35,000

No Change From 2025/2026 Budget

LAKE FOUNTAIN INSTALLATION/MAINTENANCE

0

45,000

34,000

$11,000 Decrease From 2025/2026 Budget

JANITORIAL SERVICES

53,320

45,000

45,000

No Change From 2025/2026 Budget

HOLIDAY LIGHTING

54,185

30,000

30,000

No Change From 2025/2026 Budget

PLAYGROUND MANTENANCE

0

5,000

5,000

No Change From 2025/2026 Budget

MISCELLANEOUS MAINTENANCE

128,832

55,000

63,700

$8,700 Increase From 2025/2026 Budget

TOTAL MAINTENANCE EXPENDITURES

$	955,933

$	1,007,000

$	1,003,700

ADMINISTRATIVE EXPENDITURES

SUPERVISOR FEES

3,200

8,000

7,000

Supervisor Fees

PAYROLL TAXES (EMPLOYER)

212

612

536

Supervisor Fees * 7.65%

MANAGEMENT

37,620

38,700

39,744

CPI Adjustment

SECRETARIAL & FIELD OPERATIONS

9,000

9,000

9,000

No Change From 2025/2026 Budget

LEGAL

19,610

12,000

16,000

FY 2025/2026 Expenditure Through Jan 26 Was $6,085

ASSESSMENT ROLL

10,000

10,000

10,000

As Per Contract

AUDIT FEES

3,400

3,500

3,600

Accepted Amount For 2025/2026 Audit

INSURANCE

8,796

9,200

9,400

FY 2025/2026 Expenditure Was $8,803

LEGAL ADVERTISING

4,146

4,000

4,000

No Change From 2025/2026 Budget

MISCELLANEOUS

2,360

1,700

2,000

$300 Increase From 2025/2026 Budget

POSTAGE

836

825

825

No Change From 2025/2026 Budget

OFFICE SUPPLIES

530

700

700

No Change From 2025/2026 Budget

DUES & SUBSCRIPTIONS

175

175

175

No Change From 2025/2026 Budget

TRUSTEE FEES

4,246

4,500

4,400

$100 Decrease From 2025/2026 Budget

CONTINUING DISCLOSURE FEE

350

500

500

No Change From 2025/2026 Budget

WEBSITE MANAGEMENT

2,000

2,000

2,000

No Change From 2025/2026 Budget

ADMINISTRATIVE CONTINGENCY

0

1,900

1,000

$900 Decrease From 2025/2026 Budget

TOTAL ADMINISTRATIVE EXPENDITURES

$	106,481

$	107,312

$	110,880

TOTAL EXPENDITURES

$	1,062,414

$	1,114,312

$	1,114,580

REVENUES LESS EXPENDITURES

$	198,111

$	385,541

$	385,539

BOND PAYMENTS

(300,421)

(295,658)

(295,658)

2027 Principal & Interest Payments

BALANCE

$	(102,310)

$	89,883

$	89,881

COUNTY APPRAISER & TAX COLLECTOR FEE

(11,959)

(29,961)

(29,960)

Two Percent Of Total Assessment Roll

DISCOUNTS FOR EARLY PAYMENTS

(47,363)

(59,922)

(59,921)

Four Percent Of Total Assessment Roll

EXCESS/ (SHORTFALL)

$	(161,632)

$	-

$	-

CARRYOVER FROM PRIOR YEAR

0

0

0

Carryover Balance From Prior Year

.

NET EXCESS/ (SHORTFALL)

$	(161,632)

$	-

$	-

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
KEYS COVE II COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

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 =
Annual Interest Payments Due =

May 1st
May 1st & November 1st

Principal Balance As Of 1/1/26 =

$2,608,000

III

REVENUES

FISCAL YEAR 2024/2025 ACTUAL

FISCAL YEAR 2025/2026 BUDGET

FISCAL YEAR 2026/2027 BUDGET

COMMENTS

Interest Income

6,022

1,000

1,200

Projected Interest For 2026/2027

Prepaid Bond Collection

0

0

0

Prepaid Bond Collection

NAV Tax Collection

300,421

295,658

295,658

Yearly Maximum Debt Assessment

Total Revenues

$	306,443

$	296,658

$	296,858

EXPENDITURES

Principal Payments

194,000

206,000

212,000

Principal Payment Due In 2027

Interest Payments

101,713

89,432

83,345

Interest Payments Due In 2027

Bond Redemption

0

1,226

1,513

Estimated Excess Debt Collections

Total Expenditures

$	295,713

$	296,658

$	296,858

Excess/ (Shortfall)

$	10,730

$	-

$	-

Keys Cove II Community Development District Assessment Comparison

Fiscal Year 2023/2024
  Assessment*	

Fiscal Year 2024/2025
  Assessment*	

Fiscal Year 2025/2026
  Assessment*	

Fiscal Year 2026/2027
  Projected Assessment* 

Administrative For Townhome Condominiums
Maintenance For Townhome Condominiums Debt For Townhome Condominiums

$
$

110.13
677.59

$
$

118.89
882.32

$
$

121.22
1,156.89

$
$

124.98
1,153.09

 $	690.52

$	690.52

 $	690.52

 $	690.52

Total

$

1,478.24

$

1,691.73

$

1,968.63

$

1,968.59

Administrative For Executive Townhomes
Maintenance For Executive Townhomes Debt For Executive Townhomes

$
$

110.13
677.59

$
$

118.89
882.32

$
$

121.22
1,156.89

$
$

124.98
1,153.09

 $	838.49

$	838.49

 $	838.49

 $	838.49

Total

$

1,626.21

$

1,839.70

$

2,116.60

$

2,116.56

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

 Community Information:	

Townhome Condominiums Executive Townhomes
Total Units

520
406
926

 Townhome Condominiums Information	

Total Units
Prepayments Billed For Debt

520
328
192

 Executive Townhomes Information	

Total Units Prepayments
Billed For Debt

406
189
217

IV