Golden Gem
Community Development District

Proposed Budget
FY2026

Table of Contents

1-2

3-5

6

General Fund

General Fund Narrative

Debt Service - Series 2024

7-8	Amortization Schedule

Golden Gem	
Community Development District	
General Fund	

Revenues	
Special Assessments	
Developer Contributions	

	
$	-	$	-	$	-	$	-	$	340,543	
$	153,628	$	72,521	$	75,480	$	148,001	$	-	

Total Revenues	$	153,628	$	72,521	$	75,480	$	148,001	$	340,543	

Expenditures

General & Administrative						
Supervisor Fees	$	12,000	$	1,800	$	6,000	$	7,800	$	12,000	
FICA Expense	$	918	$	138	$	459	$	597	$	918	
Annual Audit	$	5,000	$	-	$	4,600	$	4,600	$	5,000	
Assessment Administration	$	5,000	$	-	$	5,000	$	5,000	$	5,000	
Arbitrage	$	450	$	-	$	450	$	450	$	450	
Attorney	$	25,000	$	2,740	$	22,260	$	25,000	$	25,000	
Dissemination	$	5,000	$	2,500	$	2,500	$	5,000	$	5,000	
Engineering	$	15,000	$	975	$	5,000	$	5,975	$	15,000	
Legal Advertising	$	15,000	$	-	$	5,000	$	5,000	$	15,000	
Trustee Fees	$	5,000	$	-	$	5,000	$	5,000	$	5,500	
Management Fees	$	37,500	$	18,750	$	18,750	$	37,500	$	38,625	
Information Technology	$	1,800	$	900	$	900	$	1,800	$	1,854	
Website Maintenance	$	1,200	$	600	$	600	$	1,200	$	1,236	
Office Supplies	$	625	$	0	$	500	$	500	$	625	
Postage & Delivery	$	1,000	$	91	$	500	$	591	$	1,000	
Printing & Binding	$	1,000	$	40	$	500	$	540	$	1,000	
Telephone	$	300	$	-	$	50	$	50	$	300	
Travel Per Diem	$	660	$	-	$	100	$	100	$	660	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Insurance	$	6,000	$	5,000	$	-	$	5,000	$	6,900	
Contingency	$	5,000	$	244	$	244	$	488	$	5,000	
Property Taxes	$	-	$	35,636	$	-	$	35,636	$	-	

Total Administrative	$	143,628	$	69,588	$	78,413	$	148,001	$	146,243	

Operation and Maintenance	
Field Expenditures	
Field Management	
Fountain Maintenance	
General Repairs & Maintenance	
Irrigation Repairs	
Landscape Maintenance	
Landscape Replacement & Enhancements	
Pond Maintenance	
Electric	
Streetlights	
Water & Sewer	
Property Insurance	
Contingency	

$	-	$	-	$	-	$	-	$	15,000	
$	-	$	-	$	-	$	-	$	3,500	
$	-	$	-	$	-	$	-	$	10,000	
$	-	$	-	$	-	$	-	$	4,500	
$	-	$	-	$	-	$	-	$	60,000	
$	-	$	-	$	-	$	-	$	10,000	
$	-	$	-	$	-	$	-	$	7,500	
$	-	$	-	$	-	$	-	$	1,500	
$	-	$	-	$	-	$	-	$	45,000	
$	-	$	-	$	-	$	-	$	25,000	
$	-	$	-	$	-	$	-	$	5,500	
$	10,000	$	-	$	-	$	-	$	5,500	

Total Field Expenditures	$	10,000	$	-	$	-	$	-	$	193,000	

Golden Gem	
Community Development District	
General Fund	

Amenity Expenditures	
Janitorial Services	

	
$	-	$	-	$	-	$	-	$	1,300	

Total Amenity Expenditures	$	-	$	-	$	-	$	-	$	1,300	

Total O&M Expenditures:	$	10,000	$	-	$	-	$	-	$	194,300	

Total Expenditures	$	153,628	$	69,588	$	78,413	$	148,001	$	340,543	

Excess Revenues/(Expenditures)	$	-	$	2,933	$	(2,933)	$	-	$	-	

Product	
ERU's	
Assessable Units	
ERU/Unit	Net
Assessment	
Net Per Unit	
Gross Per Unit	

Hotel	61.50	123.00	0.50	$11,961.57	$97.25	$103.46	
Multifamily	1,576.50	2,102.00	0.75	$306,624.65	$145.87	$155.18	
Single Family	54.00	54.00	1.00	$10,502.84	$194.50	$206.91	
Commercial	58.89	58.89	1.00	$11,453.93	$194.50	$206.91	

Total ERU's	1,750.89	2,337.89	340,543.00	

Revenues:
Special Assessments
The District will levy a Non-Ad Valorem Assessment on all the assessable property within the District in order to pay for its operating and maintenance expenditures incurred 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.

Administrative Expenditures:

Supervisors Fees
The amount paid to each supervisor for the time devoted to District business and meetings is determined by Chapter 190, Florida Statutes, at $200 per meeting.

FICA Expenditures
Represents the employer’s share of Social Security and Medicare taxes withheld from Board of Supervisors checks.

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 the Series 2024 Bonds and any additional bond issuance.

Attorney
The District's legal counsel will be providing 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.

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.
Engineering
The District's engineer will be providing general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review invoices and various projects as directed by the Board of Supervisors and the District Manager.

Legal Advertising
The District is required to advertise various notices for monthly board meetings, public hearings, etc. in a newspaper of general circulation.

Trustee Fees

The District will pay annual trustee fees to U.S Bank Global Corporate Trust for the Series 2024 Special Assessment 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, attendance of monthly board meetings, recording and transcription of board meetings, administrative services, budget preparation, all financial reports, annual audits, etc.
Information Technology
Represents costs with Governmental Management Services – Central Florida, LLC related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, security, accounting software, etc.
Website Maintenance
Represents the costs with Governmental Management Services – Central Florida, LLC 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.
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.

Postage & Delivery
The District incurs charges for mailing of board meeting agenda packages, overnight deliveries, correspondence, etc.

Printing & Binding
Printing and binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes, etc.

Telephone
Telephone and fax machine.

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.

Insurance
Annual insurance policy for General Liability and D&O provided by EGIS Risk Advisors.
Contingency
Bank charges and any other miscellaneous expenses incurred during the year.

Operations and Maintenance:

Field Expenditures:
Field Management
Estimated expenditures for contracts, site visits to the District, monthly operations reports of the District, and administration of all maintenance and operations.

Fountain Maintenance
Estimated expenditures to maintain the fountains.
General Repairs & Maintenance
Estimated expenditures for all field repairs and maintenance. These expenses include but are not limited to pressure washing, entry & wall repairs, gate repairs, maintenance supplies, sidewalk repairs, etc.

Irrigation Repairs
Estimated expenditures to inspect the irrigation system and provide any necessary repairs.
Landscape Maintenance
Estimated expenditures to provide landscape maintenance, horticulture, and irrigation inspections. The services include but are not limited to basic landscaping services, fertilization, mulching, and tree planting.

Landscape Replacement & Enhancement
Estimated expenditures for miscellaneous plant materials outside of the landscaping contract.
Pond Maintenance
Estimated expenditures to disc three ponds six times annually.

Electric
Estimated expenditures for electric services for lift stations, park, entry and fountain lighting.
Streetlights
Estimated expenditures to provide electricity to the streetlights.

Water & Sewer
Estimated expenditures to provide water and sewer.
Property Insurance
Annual insurance policy for Property & Casualty provided by EGIS Risk Advisors for coverage of the entry monuments and lift stations.

Contingency
Represents any additional field expense that may not have been provided for in the budget.
Janitorial Services
Estimated cost for pet waste station and trash cleanup.

Golden Gem	
Community Development District	
Debt Service Series 2024	

Adopted		Actuals	Projected	Total		Proposed	
Budget		Thru	Next	Projected		Budget	
FY 2025		3/31/25	6 Months	9/30/25		FY 2026	

Revenues

Carry Forward Surplus (1)	$	-	
Special Assessments	$	-	
Interest Income	$	-	
Interfund Transfer In	$	-	

$	3,016,949	$	-	$	3,016,949	$	1,286,579	
$	-	$	-	$	-	$	2,138,668	
$	101,897	$	50,948	$	152,845	$	75,000	
$	-	$	-	$	-	$	-	

Total Revenues	$	-	

$ 3,118,846	$	50,948	$	3,169,795		$	3,500,246	

Expenditures

Interfund Transfer Out	$	-	

$	-	$	-	$	-	$	-	

Series 2024		
Interest-11/1	$	-	
Principal-5/1	$	-	
Interest-5/1	$	-	

$	813,882	$	-	$	813,882	$	1,069,334	
$	-	$	-	$	-	$	-	
$	-	$	1,069,334	$	1,069,334	$	1,069,334	

Total Expenditures	$	-	

$	813,882	$ 1,069,334	$	1,883,216		$	2,138,668	

Excess Revenues/(Expenditures	$	-	

$ 2,304,964	$ (1,018,385)	$	1,286,579		$	1,361,579	

Interest 11-1-26	
Principal 11-1-26	

$	1,069,334	
$	-	
$	1,069,334	

(1) Net of Debt Service Reserve funds.

Product	ERU's	Assessable Units	ERU/Unit	Net Assessment	Gross Per Unit	

Hotel	61.50	
Multifamily	1,576.50	
Single Family	54.00	
Commercial	58.89	

123.00	0.50	$774.68	$824.13	
2,102.00	0.75	$1,162.02	$1,236.20	
54.00	1.00	$1,549.36	$1,648.26	
58.89	1.00	$1,549.36	$1,648.26	

Total ERU's	1,750.89	2,337.89	

Golden Gem	
Community Development District	
Special Assessment Revenue Bonds, Series 2024	

Period	Principal	Annual	Annual	
Ending	Balance	Principal	Interest	Debt	

11/01/24	$36,550,000		$	813,882	$	813,882	
05/01/25	$	1,069,334	
11/01/25	$36,550,000		$	1,069,334	$	2,138,668	
05/01/26	$	1,069,334	
11/01/26	$36,550,000		$	1,069,334	$	2,138,668	
05/01/27	$	1,069,334	
11/01/27	$36,550,000		$	1,069,334	$	2,138,668	
05/01/28	$	1,069,334	
11/01/28	$36,550,000		$	1,069,334	$	2,138,668	
05/01/29		$	585,000	$	1,069,334		
11/01/29	$35,965,000		$	1,054,270	$	2,708,604	
05/01/30		$	620,000	$	1,054,270		
11/01/30	$35,345,000		$	1,038,305	$	2,712,575	
05/01/31		$	650,000	$	1,038,305		
11/01/31	$34,695,000		$	1,021,568	$	2,709,873	
05/01/32		$	685,000	$	1,021,568		
11/01/32	$34,010,000		$	1,002,045	$	2,708,613	
05/01/33		$	725,000	$	1,002,045		
11/01/33	$33,285,000		$	981,383	$	2,708,428	
05/01/34		$	770,000	$	981,383		
11/01/34	$32,515,000		$	959,438	$	2,710,820	
05/01/35		$	815,000	$	959,438		
11/01/35	$31,700,000		$	936,210	$	2,710,648	
05/01/36		$	865,000	$	936,210		
11/01/36	$30,835,000		$	911,558	$	2,712,768	
05/01/37		$	915,000	$	911,558		
11/01/37	$29,920,000		$	885,480	$	2,712,038	
05/01/38		$	965,000	$	885,480		
11/01/38	$28,955,000		$	857,978	$	2,708,458	
05/01/39		$	1,025,000	$	857,978		
11/01/39	$27,930,000		$	828,765	$	2,711,743	
05/01/40		$	1,085,000	$	828,765		
11/01/40	$26,845,000		$	797,843	$	2,711,608	
05/01/41		$	1,145,000	$	797,843		
11/01/41	$25,700,000		$	765,210	$	2,708,053	
05/01/42		$	1,215,000	$	765,210		

Period	Principal	Annual	Annual	
Ending	Balance	Principal	Interest	Debt	

11/01/42	$24,485,000	
05/01/43	$	1,285,000	
11/01/43	$23,200,000	
05/01/44	$	1,360,000	
11/01/44	$21,840,000	
05/01/45	$	1,445,000	
11/01/45	$20,395,000	
05/01/46	$	1,535,000	
11/01/46	$18,860,000	
05/01/47	$	1,630,000	
11/01/47	$17,230,000	
05/01/48	$	1,730,000	
11/01/48	$15,500,000	
05/01/49	$	1,835,000	
11/01/49	$13,665,000	
05/01/50	$	1,950,000	
11/01/50	$11,715,000	
05/01/51	$	2,070,000	
11/01/51	$ 9,645,000	
05/01/52	$	2,200,000	
11/01/52	$ 7,445,000	
05/01/53	$	2,335,000	
11/01/53	$ 5,110,000	
05/01/54	$	2,480,000	
11/01/54	$ 2,630,000	
05/01/55	$	2,630,000	
11/01/55	$	-	

$	730,583	$	2,710,793	
$	730,583		
$	693,960	$	2,709,543	
$	693,960		
$	655,200	$	2,709,160	
$	655,200		
$	611,850	$	2,712,050	
$	611,850		
$	565,800	$	2,712,650	
$	565,800		
$	516,900	$	2,712,700	
$	516,900		
$	465,000	$	2,711,900	
$	465,000		
$	409,950	$	2,709,950	
$	409,950		
$	351,450	$	2,711,400	
$	351,450		
$	289,350	$	2,710,800	
$	289,350		
$	223,350	$	2,712,700	
$	223,350		
$	153,300	$	2,711,650	
$	153,300		
$	78,900	$	2,712,200	
$	78,900		
	$	2,708,900	

Total	$	36,550,000	$	46,009,171	$	82,559,171