Old Hickory
Community  Development  District

Proposed Budget FY2026

Table of Contents

1-2

3-8

9

10

11

General Fund

General Fund Narrative

Capital Reserve Fund

Debt Service Fund Series 2020

Amortization Schedule Series 2020

Old Hickory
Community Development District Proposed Budget
FY2026
General Fund

Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Proposed
Budget	
FY2025	4/30/25	5 Months	9/30/25	FY2026	

Revenues:		
Special Assessments	$	451,730	$	451,613	$	116	$	451,729	$	451,730	
Interest	11,000	8,065	5,600	13,665	12,000	
Carry Forward Surplus*	72,150	156,513	-	156,513	42,447	
Total Revenues	$	534,880	$	616,191	$	5,716	$	621,907	$	506,177	
Expenditures:						
Administrative:						
Supervisor Fees	$	12,000	$	2,400	$	5,000	$	7,400	$	12,000	
FICA Expense	918	184	383	566	918	
Engineering Fees	12,000	5,310	4,690	10,000	10,000	
Attorney	25,000	1,505	4,495	6,000	15,000	
Arbitrage	450	450	-	450	450	
Dissemination	3,675	2,144	1,531	3,675	3,785	
Annual Audit	4,700	-	4,700	4,700	4,700	
Trustee Fees	4,050	4,041	-	4,041	4,434	
Assessment Administration	5,565	5,565	-	5,565	5,732	
Management Fees	42,500	24,792	17,708	42,500	43,775	
Information Technology	1,890	1,103	788	1,890	1,947	
Website Maintenance	1,260	735	525	1,260	1,298	
Telephone	50	-	25	25	50	
Postage	1,000	136	64	200	1,000	
Printing & Binding	500	6	54	60	500	
Insurance	6,427	6,252	-	6,252	7,534	
Legal Advertising	2,500	782	1,718	2,500	2,500	
Other Current Charges	600	331	300	631	650	
Office Supplies	150	11	39	50	150	
Property Appraiser Fee	500	172	-	172	500	
Dues, Licenses & Subscriptions	175	175	-	175	175	
Total Administrative:	$	125,910	$	56,091	$	42,019	$	98,111	$	117,098	
Operations & Maintenance						
Field Services	$	16,695	$	9,739	$	6,956	$	16,695	$	17,196	
Property Insurance	2,536	3,031	-	3,031	3,273	
Electric	1,500	199	150	349	1,500	
Streetlights	101,430	52,959	38,000	90,959	101,430	
Water & Sewer	28,512	15,319	12,999	28,318	33,000	
Landscape Maintenance	143,327	80,934	59,544	140,478	150,052	
Landscape Contingency	7,500	1,156	14,612	15,767	7,500	
Lake Maintenance	16,958	9,604	6,860	16,464	16,968	
Irrigation Repairs	10,000	3,197	4,303	7,500	10,000	
Doggie Stations	-	-	4,230	4,230	10,660	
Repairs & Maintenance	2,500	701	799	1,500	2,500	
Walls, Entry & Monuments	2,500	3,600	-	3,600	2,500	
Contingency	3,850	-	1,000	1,000	2,500	
Hurricane Expenses	-	4,550	-	4,550	-	
Total Operations & Maintenance:	$	337,308	$	184,988	$	149,454	$	334,442	$	359,079	
Reserves						
Capital Reserve Transfer	$	71,662	$	71,662	$	-	$	71,662	$	30,000	
Total Reserves	$	71,662	$	71,662	$	-	$	71,662	$	30,000	
						
Total Expenditures	$	534,880	$	312,742	$	191,473	$	504,215	$	506,177	
						
Excess Revenues (Expenditures)	$	-	$	303,449	$	(185,757)	$	117,692	$	-	

*Less 1st quarter operating amount.				

Net Assessment	

$451,730	
				Collection Cost (6%)	$28,834	
				Gross Assessment	$480,564	

1

Old Hickory
Community Development District Gross Per Unit Assessment Comparison Chart

	Property Type	Units	Gross Per Unit	Total Gross			
	50' Lots	273	$1,066	$290,896			
	60' Lots	178	$1,066	$189,668			
	Total	451		$480,564.23			
							
		Fiscal Year 2025		Increase	Fiscal Year 2026	Fiscal Year 2026	
Property Type	Units	Gross Per Unit	% Increase	Gross Per Unit	Gross Per Unit	Total Gross	
50' Lots	273	$1,066	0%	$0	$1,066	$290,896	
60' Lots	178	$1,066	0%	$0	$1,066	$189,668	
Total	451				Gross Assessment	$480,564.23	

2

Old Hickory
Community Development District
GENERAL FUND BUDGET

REVENUES:

Special Assessments

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

Interest

The District generates funds from invested funds.

EXPENDITURES:

Administrative:

Supervisor Fees

Chapter 190, Florida Statutes, allows for each Board member to receive $200 per meeting, not to exceed $4,800 per year paid to each Supervisor for the time devoted to District business and meetings. The amount is based on 5 supervisors attending 12 meetings during the fiscal year.

FICA Expense

Represents the Employer’s share of Social Security and Medicare taxes withheld from Board of Supervisor checks.

Engineering Fees

The District's engineer, Dewberry Engineers, Inc., will be providing general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review invoices, preparation and review of contract specifications and bid documents and various projects assigned as directed by the Board of Supervisors and the District Manager.

Attorney

The District’s legal counsel, Latham, Luna, Eden & Beaudine, LLP, will be providing general legal services to the District, e.g. attendance and preparation for monthly meetings, preparation and review of agreements, resolutions and other research as directed by the Board of Supervisors and the District Manager.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on the Series 2020 Special Assessment Bonds (2020 Project). The District has contracted with AMTEC Corporation for this service.

Old Hickory
Community Development District
GENERAL FUND BUDGET

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. The District has contracted with Governmental Management Services-Central Florida, LLC for this service on the Series 2020 Special Assessment Bonds (2020 Project).

Annual Audit

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

Trustee Fees

The District will pay annual trustee fees for the Series 2020 Special Assessment Bonds (2020 Project) that are located with a Trustee at USBank.

Assessment Administration

The District has contracted with Governmental Management Services-Central Florida, LLC to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Management Fees

The District has contracted with Governmental Management Services-Central Florida, LLC to provide Management, Accounting and Recording Secretary Services for the District. The services include, but not limited to, recording and transcription of board meetings, budget preparation, all financial reporting, annual audit, etc.

Information Technology

The District has contracted with Governmental Management Services-Central Florida, LLC for costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, positive pay implementation and programming for fraud protection, accounting software, Adobe, Microsoft Office, etc.

Website Maintenance

The District has contracted with Governmental Management Services-Central Florida, LLC for the costs associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statues. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc.

Telephone

Telephone and fax machine.

Postage

Mailing of agenda packages, overnight deliveries, correspondence, etc.

Old Hickory
Community Development District
GENERAL FUND BUDGET

Printing & Binding

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

Insurance

The District’s general liability and public officials liability insurance coverage is provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

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

Miscellaneous office supplies.

Property Appraiser Fee

Represents a fee charged by Osceola County Property Appraiser’s office for assessment administration services.

Dues, Licenses & Subscriptions

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

Operations & Maintenance:

Field Services

Provide onsite field management of contracts for the District such as landscape and lake maintenance. Services to include onsite inspections, meetings with contractors, attend Board meetings and receive and respond to property owner phone calls and emails.

Property Insurance

Represents estimated costs for the annual coverage of property insurance. Coverage will be provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Old Hickory
Community Development District
GENERAL FUND BUDGET

Electric

Represents estimated cost of electric services for irrigation meters. District has one account with Orlando Utilities Commissions currently.

Account #	Description	Monthly	Annual	
57703-09167	37311 Hickory Grove Road Contingency (Future Accounts)	$35	$420
$1,080	
Total			$1,500	

Streetlights

Represents cost for streetlight services that will be maintained by the District. The District current has one account with Orlando Utilities Commissions for Phases 1-4.

Account #	Description	Monthly	Annual	
57703-09167	Ph 1 & 2 - Qty.140 - 13' Victorian II Lights	$4,900	$58,800	
57703-09167	Ph 3 - Qty.51 - 13' Victorian II Lights	$1,800	$21,600	
57703-09167	Ph 4 - Qty. 23 - 13' Victorian II Lights	$1,000	$12,000	
	Contingency		$9,030	
Total			$101,430	

Water & Sewer

Represents costs for water services for areas within the District. The District currently has four accounts with Toho Water Authority (St. Cloud Utilities).

Account #	Description	Monthly	Annual	
59098	4000 Block Even Hickory Grove Road	$850	$10,200	
59099	4500 Block Odd Holstein Street	$150	$1,800	
63023	5200 Block Odd Presrev Boulevard Irr	$65	$780	
64268	400 Block Even Hitch Loop Irr	$1,500	$18,000	
	Contingency (Future Account)		$2,220	
Total			$33,000	

Landscape Maintenance

The District will maintain the landscaping within the common areas of the District after installation of landscape material has been completed. The District has contracted with Floralawn 2, LLC for this service.

Description	Monthly	Annual	
Landscape Maintenance Phases 1 - 4	$12,504	$150,052	
Total		$150,052	

Old Hickory
Community Development District
GENERAL FUND BUDGET

Landscape Contingency

Represents estimated costs for any additional landscape expenses not covered under the monthly landscape maintenance contract.

Lake Maintenance

Represents cost for maintenance to 8 ponds located within the District. Services include shoreline grass and brush control, floating and submersed vegetation control, additional treatments as required, and a monthly report of all waterways treated. The District has contracted with Applied Aquatic Management, Inc. for these services.

Description	Monthly	Annual	
Lake Maintenance - 8 Ponds			
Tract A	$197	$2,364	
Tract I	$295	$3,540	
Tract H	$98	$1,176	
Tract K	$131	$1,572	
Tract P	$147	$1,764	
Tract DD	$147	$1,764	
Tract EE	$295	$3,540	
Tract Q	$104	$1,248	
Total		$16,968	

Irrigation Repairs

Represents estimated costs for any repairs to the irrigation system.

Doggie Stations

Represents estimated costs for 52 changes outs of 2 doggie stations with bags and 1 – 41 gallon trash can with bags.

Description	Monthly	Annual	
2 Doggie Stations with Bags (52 Changeouts)	$592	$7,106	
1 - 42 Gallon Trash Can with Bags (52 Changeouts)	$296	$3,553	
Total		$10,660	

Repairs & Maintenance

Represents general repairs and maintenance costs that are not budgeted under any other budget line item for area such as playground and dog park.

Walls, Entry & Monuments

Represents estimated costs for repairs and maintenance to the walls, entry and monuments maintained by the District.

Old Hickory
Community Development District
GENERAL FUND BUDGET

Contingency

Represents any additional field expense that may not have been provided for in the budget.

Hurricane Expenses

Represents estimated costs for repairs and maintenance caused as a result of weather events such as storms and hurricanes.

Transfer Out – Capital Reserve

Represents excess funds at fiscal year-end transferred  to the Capital Reserve fund.

Old Hickory
Community Development District Proposed Budget
FY2026
Capital Reserve Fund

Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Proposed
Budget	
FY2025	4/30/25	5 Months	9/30/25	FY2026	

Revenues:		
Transfer In	$	71,662	$	71,662	$	-	$	71,662	$	30,000	
Interest	3,000	1,015	1,200	2,215	2,000	
Total Revenues	$	74,662	$	72,677	$	1,200	$	73,877	$	32,000	

Expenditures:						
Contingency	$	500	$	-	$	-	$	-	$	500	
Capital Outlay	-	-	-	-	-	
Total Expenditures	$	500	$	-	$	-	$	-	$	500	
						
Excess Revenues (Expenditures)	$	74,162	$	72,677	$	1,200	$	73,877	$	31,500	
						
Fund Balance - Beginning	$	-	$	-	$	-	$	-	$	73,877	
						
Fund Balance - Ending	$	74,162	$	72,677	$	1,200	$	73,877	$	105,377	

Old Hickory
Community Development District Proposed Budget
FY2026
Debt Service Fund Series 2020

Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Proposed
Budget	
FY2025	4/30/25	5 Months	9/30/25	FY2026	

Revenues:		
Special Assessments	$	356,100	$	355,220	$	91	$	355,312	$	355,312	
Interest	17,000	11,033	7,300	18,333	16,000	
Carry Forward Surplus*	173,580	176,917	-	176,917	195,736	
Total Revenues	$	546,680	$	543,170	$	7,391	$	550,561	$	567,048	

Expenditures:						
Series 2020
Interest - 12/15	

$	109,913	

$	109,913	

$	-	

$	109,913	

$	108,225	
Principal - 06/15	135,000	-	135,000	135,000	140,000	
Interest - 06/15	109,913	-	109,913	109,913	108,225	
Total Expenditures	$	354,825	$	109,913	$	244,913	$	354,825	$	356,450	
						
Excess Revenues (Expenditures)	$	191,855	$	433,258	$	(237,521)	$	195,736	$	210,598	

*Less Reserve amount.				

Interest - 12/15/2026	

$106,125	
				Total	$106,125	
				
Net Assessment	
$355,312	
				Collection Cost (6%)	$22,679	
				Gross Assessment	$377,991	
						
		Property Type	Units	Gross Per Unit	Gross Total	
		50' Lots	272	$840	$228,475	
		60' Lots	178	$840	$149,516	
		Total	450		$377,991	

Old Hickory
Series 2020, Special Assessment Bonds (2020 Project) (Term Bonds Combined)

Amortization Schedule

Date	Balance	Principal	Interest	Annual	

6/15/25	
$ 5,730,000	
$	135,000	$	
109,912.50	$	
-	
12/15/25	$ 5,595,000	$	-	$	108,225.00	$	353,137.50	
6/15/26	$ 5,595,000	$	140,000	$	108,225.00	$	-	
12/15/26	$ 5,455,000	$	-	$	106,125.00	$	354,350.00	
6/15/27	$ 5,455,000	$	145,000	$	106,125.00	$	-	
12/15/27	$ 5,310,000	$	-	$	103,950.00	$	355,075.00	
6/15/28	$ 5,310,000	$	145,000	$	103,950.00	$	-	
12/15/28	$ 5,165,000	$	-	$	101,775.00	$	350,725.00	
6/15/29	$ 5,165,000	$	150,000	$	101,775.00	$	-	
12/15/29	$ 5,015,000	$	-	$	99,525.00	$	351,300.00	
6/15/30	$ 5,015,000	$	155,000	$	99,525.00	$	-	
12/15/30	$ 4,860,000	$	-	$	97,200.00	$	351,725.00	
6/15/31	$ 4,860,000	$	160,000	$	97,200.00	$	-	
12/15/31	$ 4,700,000	$	-	$	94,000.00	$	351,200.00	
6/15/32	$ 4,700,000	$	170,000	$	94,000.00	$	-	
12/15/32	$ 4,530,000	$	-	$	90,600.00	$	354,600.00	
6/15/33	$ 4,530,000	$	175,000	$	90,600.00	$	-	
12/15/33	$ 4,355,000	$	-	$	87,100.00	$	352,700.00	
6/15/34	$ 4,355,000	$	185,000	$	87,100.00	$	-	
12/15/34	$ 4,170,000	$	-	$	83,400.00	$	355,500.00	
6/15/35	$ 4,170,000	$	190,000	$	83,400.00	$	-	
12/15/35	$ 3,980,000	$	-	$	79,600.00	$	353,000.00	
6/15/36	$ 3,980,000	$	200,000	$	79,600.00	$	-	
12/15/36	$ 3,780,000	$	-	$	75,600.00	$	355,200.00	
6/15/37	$ 3,780,000	$	205,000	$	75,600.00	$	-	
12/15/37	$ 3,575,000	$	-	$	71,500.00	$	352,100.00	
6/15/38	$ 3,575,000	$	215,000	$	71,500.00	$	-	
12/15/38	$ 3,360,000	$	-	$	67,200.00	$	353,700.00	
6/15/39	$ 3,360,000	$	225,000	$	67,200.00	$	-	
12/15/39	$ 3,135,000	$	-	$	62,700.00	$	354,900.00	
6/15/40	$ 3,135,000	$	230,000	$	62,700.00	$	-	
12/15/40	$ 2,905,000	$	-	$	58,100.00	$	350,800.00	
6/15/41	$ 2,905,000	$	240,000	$	58,100.00	$	-	
12/15/41	$ 2,665,000	$	-	$	53,300.00	$	351,400.00	
6/15/42	$ 2,665,000	$	250,000	$	53,300.00	$	-	
12/15/42	$ 2,415,000	$	-	$	48,300.00	$	351,600.00	
6/15/43	$ 2,415,000	$	260,000	$	48,300.00	$	-	
12/15/43	$ 2,155,000	$	-	$	43,100.00	$	351,400.00	
6/15/44	$ 2,155,000	$	270,000	$	43,100.00	$	-	
12/15/44	$ 1,885,000	$	-	$	37,700.00	$	350,800.00	
6/15/45	$ 1,885,000	$	285,000	$	37,700.00	$	-	
12/15/45	$ 1,600,000	$	-	$	32,000.00	$	354,700.00	
6/15/46	$ 1,600,000	$	295,000	$	32,000.00	$	-	
12/15/46	$ 1,305,000	$	-	$	26,100.00	$	353,100.00	
6/15/47	$ 1,305,000	$	305,000	$	26,100.00	$	-	
12/15/47	$ 1,000,000	$	-	$	20,000.00	$	351,100.00	
6/15/48	$ 1,000,000	$	320,000	$	20,000.00	$	-	
12/15/48	$	680,000	$	-	$	13,600.00	$	353,600.00	
6/15/49	$	680,000	$	335,000	$	13,600.00	$	-	
12/15/49	$	345,000	$	-	$	6,900.00	$	355,500.00	
6/15/50	$	345,000	$	345,000	$	6,900.00	$	351,900.00	
Totals		$	5,730,000	$	3,445,113	$	9,175,112.50