Windsor Cay
Community Development District

Adopted Budget
FY2026

Table of Contents

1-2

3-6

7
General Fund

General Fund Narrative

Series 2024 Debt Service Fund

8-9	Series 2024 Amortization Schedule

	Adopted Budget	Actuals Thru		Projected Next	Projected Thru	Adopted Budget	
Description	FY2025	6/30/25		3 Months	9/30/25	FY2026	

Revenues							
Assessments	$	297,894	$	299,715	$	-	$	299,715	$	297,894	
Developer Contributions	$	25,311	$	-	$	-	$	-	$	43,098	
Boundary Amendment Contributions	$	-	$	959	$	-	$	959	$	-	
Total Revenues	$	323,205	$	300,674	$	-	$	300,674	$	340,993	

Expenditures							
General & Administrative							
Engineering	$	10,000	$	4,046	$	2,500	$	6,546	$	10,000	
Attorney	$	25,000	$	4,720	$	6,250	$	10,970	$	25,000	
Annual Audit	$	4,000	$	4,800	$	-	$	4,800	$	6,300	
Assessment Administration	$	5,250	$	5,250	$	-	$	5,250	$	5,408	
Arbitrage	$	450	$	-	$	450	$	450	$	900	
Dissemination	$	5,000	$	3,750	$	1,250	$	5,000	$	6,150	
Trustee Fees	$	4,020	$	1,769	$	4,020	$	5,789	$	9,000	
Management Fees	$	42,500	$	31,875	$	10,625	$	42,500	$	43,775	
Information Technology	$	1,800	$	1,350	$	450	$	1,800	$	1,854	
Website Maintenance	$	1,200	$	900	$	300	$	1,200	$	1,236	
Telephone	$	300	$	-	$	75	$	75	$	300	
Postage & Delivery	$	1,000	$	77	$	50	$	127	$	1,000	
Insurance	$	5,500	$	5,200	$	-	$	5,200	$	6,351	
Printing & Binding	$	1,000	$	39	$	50	$	89	$	1,000	
Legal Advertising	$	5,000	$	3,038	$	1,250	$	4,288	$	5,000	
Property Appraiser Fee	$	-	$	50	$	-	$	50	$	-	
Boundary Amendment Expense	$	-	$	959	$	-	$	959	$	-	
Other Current Charges	$	1,750	$	1,084	$	666	$	1,750	$	1,750	
Office Supplies	$	625	$	1	$	20	$	21	$	625	
Travel Per Diem	$	660	$	-	$	165	$	165	$	660	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Total Administrative	$	115,230	$	69,083	$	28,121	$	97,204	$	126,484	

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2025	6/30/25	3 Months	9/30/25	FY2026	

Operations & Maintenance						
Field Expenditures						
Field Management	$	15,000	$	11,250	$	3,750	$	15,000	$	15,450	
Property Insurance	$	-	$	6,716	$	-	$	6,716	$	7,253	
Landscape Maintenance	$	110,784	$	59,464	$	18,915	$	78,379	$	80,000	
Pond Disking	$	9,000	$	5,200	$	3,900	$	9,100	$	8,190	
Landscape Replacement	$	2,500	$	-	$	625	$	625	$	15,000	
Tree Trimming	$	7,875	$	-	$	1,969	$	1,969	$	27,300	
Mulch	$	10,000	$	-	$	2,500	$	2,500	$	26,000	
Electric	$	3,500	$	-	$	875	$	875	$	3,500	
Water & Sewer	$	25,000	$	2,622	$	1,500	$	4,122	$	7,200	
Irrigation Repairs	$	7,500	$	-	$	1,875	$	1,875	$	7,500	
Fountain Maintenance	$	6,000	$	4,500	$	1,500	$	6,000	$	6,300	
General Repairs & Maintenance	$	7,500	$	2,568	$	1,875	$	4,443	$	7,500	
Contingency	$	3,316	$	-	$	829	$	829	$	3,316	
Total Operations & Maintenance	$	207,975	$	92,321	$	40,113	$	132,433	$	214,509	
						
Total Expenditures	$	323,205	$	161,404	$	68,234	$	229,637	$	340,993	
						
Excess Revenues/(Expenditures)	$	-	$	139,270	$	(68,234)	$	71,036	$	-	
			
Net Assessments		
$	297,894	
Add: Discount & Collections 6% Gross Assessments
 $	19,015 
 $	316,909 

Product Type	ERU	Assessable Units	Total ERU	Net Assessment	Net Per Unit	Gross Per Unit	
Townhouse - 25'	0.5	230	115.00	$	98,941	$	430.18	$	457.64	
Single Family - 40'	0.8	153	122.40	$	90,021	$	588.37	$	625.93	
Single Family - 50'	1	157	157.00	$	108,932	$	693.84	$	738.12	
		540	394.40	$	297,894			

Revenues:

Assessments

The District will levy a non-ad valorem assessment on all the assessable property within the District to pay for operating expenditures during the fiscal year.

Developer Contributions

The District will enter into a funding agreement with the Developer to fund the General Fund expenditures for the Fiscal Year.

Expenditures:

General & Administrative:

Engineering

The District's engineer, Donald W. McIntosh Associates, Inc., provides general engineering services to the District, e.g., attendance and preparation for monthly board meetings, review invoices and various projects as directed by the District Manager.

Attorney

The District's legal counsel, Kutak Rock, LLP, provides general legal services to the District, e.g., attendance and preparation for meetings, preparation and review of agreements, resolutions, etc. as directed by the Board of Supervisors and the District Manager.

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis.

Assessment Administration

The District will contract to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on an anticipated bond issuance.

Dissemination

The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(5) which relates to additional reporting requirements for unrated bond issues. This cost is based upon an anticipated bond issuance.

Trustee Fees

The District will incur trustee related costs with the issuance of its’ issued bonds.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-Central Florida, LLC. The services include but are not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reports, annual audits, etc.

Information Technology

Represents various cost of information technology for the District such as video conferencing, cloud storage and servers, positive pay implementation and programming for fraud protection, accounting software, tablets for meetings, Adobe, Microsoft Office, etc. Governmental Management Services – Central Florida, LLC provides these systems.

Website Maintenance

Represents the costs associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc. Governmental Management Services – Central Florida, LLC provides these services.

Telephone

Telephone and fax machine.

Postage & Delivery

Mailing of board meeting agenda packages, overnight deliveries, checks for vendors and any other required correspondence.

Insurance

The District’s general liability and public official’s liability insurance coverages.

Printing & Binding

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

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 expenses incurred during the year.

Office Supplies

Any supplies that may need to be purchased during the fiscal year, e.g., paper, minute books, file folders, labels, paper clips, etc.

Travel Per Diem

The Board of Supervisors can be reimbursed for travel expenditures related to the conducting of District business.

Dues, Licenses & Subscriptions

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

Field Expenditures:

Field Management

Represents the estimated costs of contracting services that provide onsite field management of contracts for the District such as landscape and lake maintenance. Services can include onsite inspections, meetings
with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Landscape Maintenance

Represents the estimated maintenance of the landscaping within the common areas of the District after the installation of landscape material has been completed.

Pond Disking

Represents the estimated cost to disk pond floors within the District.

Landscape Replacement

Represents the estimated cost of replacing landscaping within the common areas of the District.

Tree Trimming

Represents cost to trim trees within the district.

Mulch

Represents costs related to mulch installed in the District.

Electric

Represents estimated electric charges of common areas throughout the District.

Water & Sewer

Represents estimated costs for water and refuse services provided for common areas throughout the District.

Irrigation Repairs

Represents the cost of maintaining and repairing the irrigation system. This includes the sprinklers, and irrigation wells.

Fountain Maintenance

Represents cost to maintain fountains for three days each week.

General Repairs & Maintenance

Represents estimated costs for general repairs and maintenance of the District’s common areas.

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any field category.
Adopted Budget
Series 2024 Debt Service Fund

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget		
Description	FY2025	6/30/25	3 Months	9/30/25	FY2026		

Revenues						
Special Assessments	$	665,243	$	669,451	$	-	$	669,451	$	665,243	
Interest	$	-	$	21,033	$	5,258	$	26,292	$	13,146	
Carry Forward	$	265,694	$	268,061	$	-	$	268,061	$	289,555	
Total Revenues	$	930,936	$	958,545	$	5,258	$	963,804	$	967,943	

Expenditures						
Interest Expense - 11/1	$	263,422	$	263,422	$	-	$	263,422	$	261,789	
Principal Expense - 5/1	$	135,000	$	135,000	$	-	$	135,000	$	145,000	
Interest Expense - 5/1	$	264,894	$	264,894	$	-	$	264,894	$	261,789	
Total Expenditures	$	663,316	$	663,316	$	-	$	663,316	$	668,578	

Other Financing Sources/(Uses)						

Transfer In/(Out)	$	-	$	(10,933)	
$	-	
$	(10,933)	
$	-			
Total Other Financing Sources/(Uses)	$	-	$	(10,933)	$	-	$	(10,933)	$	-			

Interest Expense 11/1/26	 $	258,454 
Total	$	258,454

Product	
Assessable Units	Total Net Assessments	Net Assessment Per Unit	Gross Assessment Per Unit	
Townhouse - 25'	230	$	176,787	$	768.64	$	817.70	
Single Family - 40'	153	$	213,895	$	1,398.00	$	1,487.24	
Single Family - 50'	157	$	274,561	$	1,748.79	$	1,860.42	
	540	$	665,243			

Date		Balance		Prinicpal			Interest		Total	
										
11/01/25	$	9,480,000.00	$		-	$	261,788.75	$	661,682.50	
05/01/26	$	9,480,000.00	$	145,000.00	$	261,788.75				
11/01/26	$	9,335,000.00	$		-	$	258,453.75	$	665,242.50	
05/01/27	$	9,335,000.00	$	150,000.00	$	258,453.75				
11/01/27	$	9,185,000.00	$		-	$	255,003.75	$	663,457.50	
05/01/28	$	9,185,000.00	$	155,000.00	$	255,003.75				
11/01/28	$	9,030,000.00	$		-	$	251,438.75	$	661,442.50	
05/01/29	$	9,030,000.00	$	165,000.00	$	251,438.75				
11/01/29	$	8,865,000.00	$		-	$	247,643.75	$	664,082.50	
05/01/30	$	8,865,000.00	$	170,000.00	$	247,643.75				
11/01/30	$	8,695,000.00	$		-	$	243,733.75	$	661,377.50	
05/01/31	$	8,695,000.00	$	180,000.00	$	243,733.75				
11/01/31	$	8,515,000.00	$		-	$	239,593.75	$	663,327.50	
05/01/32	$	8,515,000.00	$	190,000.00	$	239,593.75				
11/01/32	$	8,325,000.00	$		-	$	234,416.25	$	664,010.00	
05/01/33	$	8,325,000.00	$	200,000.00	$	234,416.25				
11/01/33	$	8,125,000.00	$		-	$	228,966.25	$	663,382.50	
05/01/34	$	8,125,000.00	$	210,000.00	$	228,966.25				
11/01/34	$	7,915,000.00	$		-	$	223,243.75	$	662,210.00	
05/01/35	$	7,915,000.00	$	220,000.00	$	223,243.75				
11/01/35	$	7,695,000.00	$		-	$	217,248.75	$	660,492.50	
05/01/36	$	7,695,000.00	$	235,000.00	$	217,248.75				
11/01/36	$	7,460,000.00	$		-	$	210,845.00	$	663,093.75	
05/01/37	$	7,460,000.00	$	250,000.00	$	210,845.00				
11/01/37	$	7,210,000.00	$		-	$	204,032.50	$	664,877.50	
05/01/38	$	7,210,000.00	$	260,000.00	$	204,032.50				
11/01/38	$	6,950,000.00	$		-	$	196,947.50	$	660,980.00	
05/01/39	$	6,950,000.00	$	275,000.00	$	196,947.50				
11/01/39	$	6,675,000.00	$		-	$	189,453.75	$	661,401.25	
05/01/40	$	6,675,000.00	$	290,000.00	$	189,453.75				
11/01/40	$	6,385,000.00	$		-	$	181,551.25	$	661,005.00	
05/01/41	$	6,385,000.00	$	310,000.00	$	181,551.25				
11/01/41	$	5,750,000.00	$		-	$	173,103.75	$	664,655.00	
05/01/42	$	5,040,000.00	$	325,000.00	$	173,103.75				
11/01/42	$	5,040,000.00	$		-	$	164,247.50	$	662,351.25	
05/01/43	$	5,040,000.00	$	345,000.00	$	164,247.50				
11/01/43	$	5,040,000.00	$		-	$	154,846.25	$	664,093.75	
05/01/44	$	5,040,000.00	$	365,000.00	$	154,846.25				
11/01/44	$	5,040,000.00	$		-	$	144,900.00	$	664,746.25	

Date		Balance		Prinicpal		Interest		Total	

05/01/45	
$	
5,040,000.00	
$	
385,000.00	
$	
144,900.00			
11/01/45	$	4,655,000.00	$	-	$	133,831.25	$	663,731.25	
05/01/46	$	4,655,000.00	$	405,000.00	$	133,831.25			
11/01/46	$	4,250,000.00	$	-	$	122,187.50	$	661,018.75	
05/01/47	$	4,250,000.00	$	430,000.00	$	122,187.50			
11/01/47	$	3,820,000.00	$	-	$	109,825.00	$	662,012.50	
05/01/48	$	3,820,000.00	$	455,000.00	$	109,825.00			
11/01/48	$	3,365,000.00	$	-	$	96,743.75	$	661,568.75	
05/01/49	$	3,365,000.00	$	485,000.00	$	96,743.75			
11/01/49	$	2,880,000.00	$	-	$	82,800.00	$	664,543.75	
05/01/50	$	2,880,000.00	$	510,000.00	$	82,800.00			
11/01/50	$	2,370,000.00	$	-	$	68,137.50	$	660,937.50	
05/01/51	$	2,370,000.00	$	540,000.00	$	68,137.50			
11/01/51	$	1,830,000.00	$	-	$	52,612.50	$	660,750.00	
05/01/52	$	1,830,000.00	$	575,000.00	$	52,612.50			
11/01/52	$	1,255,000.00	$	-	$	36,081.25	$	663,693.75	
05/01/53	$	1,255,000.00	$	610,000.00	$	36,081.25	$	-	
11/01/53	$	645,000.00	$	-	$	18,543.75	$	664,625.00	
05/01/54	$	645,000.00	$	645,000.00	$	18,543.75	$	663,543.75	
			$	9,480,000.00	$	10,004,442.50	$	19,884,336.25