Old Hickory
Community Development District

Adopted Budget FY2027

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 Adopted Budget
FY2027
General Fund

Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Adopted
Budget	
FY2026	7/31/26	2 Months	9/30/26	FY2027	

Revenues:		
Special Assessments	$	451,730	$	453,015	$	-	$	453,015	$	451,730	
Interest	12,000	11,586	2,000	13,586	10,000	
Carry Forward Surplus*	42,447	55,579	-	55,579	61,024	
Total Revenues	$	506,177	$	520,180	$	2,000	$	522,180	$	522,754	

Expenditures:						
Administrative:						
Supervisor Fees	$	12,000	$	4,200	$	1,200	$	5,400	$	12,000	
FICA Expense	918	321	92	413	918	
Engineering Fees	10,000	3,138	862	4,000	10,000	
Attorney	15,000	3,637	1,500	5,137	15,000	
Arbitrage	450	450	-	450	450	
Dissemination	3,785	3,154	631	3,785	3,974	
Annual Audit	4,700	3,200	-	3,200	3,300	
Trustee Fees	4,434	4,445	-	4,445	4,450	
Assessment Administration	5,732	5,732	-	5,732	6,018	
Management Fees	43,775	36,479	7,296	43,775	45,964	
Information Technology	1,947	1,623	325	1,947	2,044	
Website Maintenance	1,298	1,082	216	1,298	1,363	
Telephone	50	-	13	13	50	
Postage	1,000	136	50	186	1,000	
Printing & Binding	500	42	8	50	500	
Insurance	7,534	6,627	-	6,627	7,290	
Legal Advertising	2,500	207	1,500	1,707	2,500	
Other Current Charges	650	498	120	618	650	
Office Supplies	150	2	3	5	150	
Property Appraiser Fee	500	416	-	416	500	
Dues, Licenses & Subscriptions	175	175	-	175	175	
Total Administrative:	$	117,098	$	75,564	$	13,815	$	89,379	$	118,296	
Operations & Maintenance						
Field Services	$	17,196	$	14,330	$	2,866	$	17,196	$	18,056	
Property Insurance	3,273	2,650	-	2,650	2,800	
Electric	1,500	297	100	397	1,500	
Streetlights	101,430	76,316	22,950	99,266	101,430	
Water & Sewer	33,000	26,217	9,000	35,217	40,000	
Landscape Maintenance	150,052	125,043	25,009	150,052	150,052	
Landscape Contingency	7,500	-	1,875	1,875	15,000	
Lake Maintenance	16,968	12,717	2,826	15,543	17,460	
Irrigation Repairs	10,000	4,182	2,500	6,682	10,000	
Doggie Stations	10,660	9,248	1,777	11,025	10,660	
Repairs & Maintenance	2,500	-	625	625	2,500	
Walls, Entry & Monuments	2,500	-	625	625	2,500	
Contingency	2,500	-	625	625	2,500	
Total Operations & Maintenance:	$	359,079	$	271,000	$	70,777	$	341,777	$	374,458	
Reserves						
Capital Reserve Transfer	$	30,000	$	30,000	$	-	$	30,000	$	30,000	
Total Reserves	$	30,000	$	30,000	$	-	$	30,000	$	30,000	
						
Total Expenditures	$	506,177	$	376,564	$	84,592	$	461,156	$	522,754	
						
Excess Revenues (Expenditures)	$	-	$	143,616	$	(82,592)	$	61,024	$	-	

*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		$480,563.82			
							
		Fiscal Year 2026		Increase	Fiscal Year 2027	Fiscal Year 2027	
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	$480,563.82	

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 assessable property within the District in order to fund all operating and maintenance expenditures during the fiscal year. These assessments are billed on tax bills.

Interest

The District will invest surplus funds with State Board of Administration.

EXPENDITURES:

Administrative:

Supervisor Fees

Chapter 190 of the Florida Statutes allows for each member of the Board of Supervisors to be compensated $200 per meeting, not to exceed $4,800 per year 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 board meetings, review of 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 board meetings, preparation and review of agreements and resolutions, and other research assigned 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.

Bond Series	Annual	
2020 Special Assessment	$450	
Total	$450	

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).

Bond Series	Annual	
Dissemination Fees	$3,974	
Total	$3,974	

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis. The District has contracted with Grau & Associates for this service.

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.

Old Hickory
Community Development District
GENERAL FUND BUDGET

Postage

The District incurs charges for mailing of agenda packages, overnight deliveries, checks for vendors and other required correspondence.

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 Board meetings, public hearings, etc. in a newspaper of general circulation.

Other Current Charges

Represents any miscellaneous expenses incurred during the year such as bank fees, deposit slips, stop payments, etc.

Office Supplies

The District incurs charges for office supplies that need to be purchased during the fiscal year.

Property Appraiser Fee

Represents an annual 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, monitoring of utility accounts, 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. The District currently has one account with Orlando Utilities Commissions.

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	$1,250	$15,000	
59099	4500 Block Odd Holstein Street	$200	$2,400	
63023	5200 Block Odd Preserve Boulevard Irr	$100	$1,200	
64268	400 Block Even Hitch Loop Irr	$1,650	$19,800	
	Contingency (Future Account)		$1,600	
Total			$40,000	

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 such as installation of annual plant replacement, mulch, tree replacement and any other landscape expenses not covered under the monthly landscape 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	$203	$2,436	
Tract I	$304	$3,648	
Tract H	$100	$1,200	
Tract K	$135	$1,620	
Tract P	$151	$1,812	
Tract DD	$151	$1,812	
Tract EE	$304	$3,648	
Tract Q	$107	$1,284	
Total		$17,460	

Irrigation Repairs

Represents estimated costs for any supplies and repairs to the irrigation system maintained by the District.

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 expenses that may not have been provided for in the budget.

Transfer Out – Capital Reserve

Represents proposed amount to transfer to the Capital Reserve fund.

Old Hickory
Community Development District Adopted Budget
FY2027
Capital Reserve Fund

Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Adopted
Budget	
FY2026	7/31/26	2 Months	9/30/26	FY2027	

Revenues:		
Transfer In	$	30,000	$	30,000	$	-	$	30,000	$	30,000	
Interest	2,000	3,008		600	3,608	1,200	
Total Revenues	$	32,000	$	33,008	$	600	$	33,608	$	31,200	

Expenditures:							
Contingency	$	500	$	-	$	80	$	80	$	500	
Capital Outlay	-	-		-	-	5,741	
Total Expenditures	$	500	$	-	$	80	$	80	$	6,241	
							
Excess Revenues (Expenditures)	$	31,500	$	33,008	$	520	$	33,528	$	24,959	
							
Fund Balance - Beginning	$	73,942	$	73,949	$	-	$	73,949	$	107,477	
							
Fund Balance - Ending	$	105,442	$	106,957	$	520	$	107,477	$	132,436	

FY2027 Adopted Expenses	
Description	Amount	
Pro Playgrounds
Shade Structure over MailBox Area in PH4	
$	5,741	
Total	$	5,741	

Old Hickory
Community Development District Adopted Budget
FY2027
Debt Service Fund Series 2020

Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Adopted
Budget	
FY2026	7/31/26	2 Months	9/30/26	FY2027	

Revenues:		
Special Assessments	$	355,312	$	356,323	$	-	$	356,323	$	355,312	
Interest	16,000	14,032	1,800	15,832	10,000	
Carry Forward Surplus*	197,195	199,569	-	199,569	215,274	
Total Revenues	$	568,507	$	569,924	$	1,800	$	571,724	$	580,585	

Expenditures:						
Series 2020
Interest - 12/15	

$	108,225	

$	108,225	

$	-	

$	108,225	

$	106,125	
Principal - 06/15	140,000	140,000	-	140,000	145,000	
Interest - 06/15	108,225	108,225	-	108,225	106,125	
Total Expenditures	$	356,450	$	356,450	$	-	$	356,450	$	357,250	
						
Excess Revenues (Expenditures)	$	212,057	$	213,474	$	1,800	$	215,274	$	223,335	

*Less Reserve amount.				

Interest - 12/15/2027	

$103,950	
				Total	$103,950	
				
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	
						
12/15/26	$  5,455,000	$	-	$	106,125.00	$	106,125.00	
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		$	5,455,000	$	3,118,750	$  8,573,750.00