Capital Region	
Community Development District	

Approved Proposed Budget	
FY 2027	

Table of Contents

1-3

4-5

6

7-8

9-10

11-12

13-14

General Fund

Narratives

Capital Reserve Fund

Debt Service Fund Series 2013

Debt Service Fund Series 2018A1

Debt Service Fund Series 2018A2

Debt Service Fund Series 2021

15	Assessment Schedule

Capital Region	
Community Development District	
Approved Proposed Budget	
General Fund	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Approved
Proposed Budget	
Description	FY2026	3/31/26	6 Months	9/30/26	FY 2027	

REVENUES:

Special Assessments - On Roll	$	1,845,938	$	1,778,328	$	67,610	1,845,938	$	1,919,775	
Special Assessments - Direct St Joe	278,000	162,169	115,831	278,000	289,120	
Interest Income	30,509	20,679	9,321	30,000	15,565	
Miscellaneous Revenue	2,000	2,235	-	2,235	2,200	
Carry Forward Surplus	-	-	-	-	-	

TOTAL REVENUES	$	2,156,446	$	1,963,410	$	192,762	$	2,156,172	$	2,226,660	

EXPENDITURES:

Administrative:						
Supervisor Fees	$	12,000	$	3,400	$	6,000	$	9,400	$	12,000	
FICA Taxes	918	260	658	918	918	
Engineering	15,000	1,300	13,700	15,000	15,000	
Attorney	37,000	7,198	29,803	37,000	37,000	
Annual Audit	4,025	4,800	-	4,800	4,900	
Assessment Administration	13,826	13,826	-	13,826	14,600	
Arbitrage Rebate	1,800	1,200	600	1,800	1,800	
Dissemination Agent	8,507	4,254	4,253	8,507	8,932	
Trustee Fees	15,520	4,445	11,075	15,520	16,150	
Management Fees	60,352	30,176	30,176	60,352	64,000	
Information Technology	3,367	1,683	1,683	3,367	3,600	
Website Maintenance	1,443	722	721	1,443	1,500	
Postage & Delivery	1,000	695	305	1,000	1,000	
Insurance General Liability	13,957	13,142	-	13,142	13,957	
Printing & Binding	200	121	79	200	200	
Legal Advertising	3,500	522	2,978	3,500	3,000	
Other Current Charges	2,500	1,216	1,284	2,500	2,500	
Office Supplies	50	0	50	50	50	
Dues, Licenses & Subscriptions	175	175	-	175	175	

TOTAL ADMINISTRATIVE	$	195,138	$	89,134	$	103,365	$	192,499	$	201,282	

Operations & Maintenance

Field Expenditures						
Property Insurance	$	15,174	$	12,978	$	-	$	12,978	$	17,171	
Management Fees	157,557	78,779	78,779	157,557	157,557	
Utilities-Electric/Water	60,000	20,948	39,052	60,000	60,000	
Landscape Maintenance - Contract	1,164,365	585,833	585,833	1,171,666	1,212,674	
Landscape Maintenance - New Units/Street Trees	5,500	-	5,500	5,500	5,500	
Pond Maintenance - Contract	13,512	11,615	1,897	13,512	13,512	
Pond Repairs - Current Units	50,000	4,304	45,696	50,000	50,000	
Irrigation Maintenance - Contract	58,200	29,108	29,108	58,217	59,963	
Irrigation Maintenance - New Units	500	-	500	500	500	
Irrigation Repairs - Current Units	45,000	29,247	15,753	45,000	45,000	
Preserve Maintenance	40,000	4,895	35,105	40,000	40,000	
Tot Lot Inspection/Maintenance	4,800	7,202	4,798	12,000	12,000	
Tree Removal/Trimming/Cleanup	38,000	24,660	13,340	38,000	38,000	

Capital Region	
Community Development District	
Approved Proposed Budget	
General Fund	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Approved
Proposed Budget	
Description	FY2026	3/31/26	6 Months	9/30/26	FY 2027	
Operations & Maintenance (continued)

Alleyway Maintenance	$	10,000	$	3,033	$	6,967	$	10,000	$	10,000	
Miscellaneous Maintenance	20,000	15,296	4,704	20,000	20,000	
Special Events	12,000	10,020	-	10,020	12,000	
Other - Contingency	50,000	14,024	19,703	33,727	42,800	
Capital Expenditures	25,000	5,027	19,973	25,000	25,000	
Common Area Maintenance	23,000	31,296	-	31,296	35,000	
Enhancement/Beautification	20,000	18,269	1,731	20,000	20,000	

TOTAL FIELD EXPENDITURES	$	1,812,608	$	906,533	$	908,440	$	1,814,974	$	1,876,677	

TOTAL EXPENDITURES	$	2,007,747	$	995,667	$	1,011,805	$	2,007,472	$	2,077,960	
Other Sources/(Uses)

Reserve for Capital - R&R	$	(148,700)	$	(148,700)	$	-	$	(148,700)	$	(148,700)	

TOTAL OTHER SOURCES/(USES)	$(148,700)	$(148,700)	$-	$(148,700)	$(148,700)	

EXCESS REVENUES (EXPENDITURES)	$	-	$	819,043	$	(819,043)	$	-	$	-	

Product	Assessable Units	Total Gross Assessment	FY26
Gross Per Unit	FY27
Gross Per Unit	Increase/ (Decrease)	
Apartments	1745	$	500,344.48	$	275.70	$	286.73	$	11.03	
Townhomes	188	51,872.82	265.31	275.92	10.61	
Single Family 30s	53	16,016.70	290.58	302.20	11.62	
Single Family 40s	332	106,873.39	309.53	321.91	12.38	
Single Family 55s	289	112,963.96	375.84	390.88	15.03	
Single Family 65s	313	151,133.86	464.28	482.86	18.57	
Single Family 75s	166	91,603.24	530.60	551.83	21.22	
Single Family 85s	111	66,663.41	577.47	600.57	23.10	
Single Family 90s	26	17,649.82	652.73	678.84	26.11	
Single Family 100s	116	80,017.28	663.27	689.80	26.53	
1/2 Ac	116	96,021.28	795.93	827.77	31.84	
1Ac	29	31,340.15	1,039.13	1,080.69	41.57	
ACLF	101	14,625.33	139.24	144.81	5.57	
Blended Commercial	32.45	104,484.03	3,096.01	3,219.85	123.84	
Golf Club	1	17,681.50	17,001.44	17,681.50	680.06	
Catholic School	1	16,961.21	16,308.85	16,961.21	652.35	
Southwood House	0.39	1,255.74	3,096.01	3,219.85	123.84	
Bulk	397.25	310,881.50	752.48	782.58	30.10	
TOTAL ON ROLL GROSS	4575.156	$	2,371,936			4.00%	
TOTAL NET		$	2,205,901				

Capital Region	
Community Development District	
Budget Narrative	
FY 2027	

REVENUES	

Special Assessments-Tax Roll	
The District will levy a Non-Ad Valorem assessment on all sold and platted parcels within the District in order to pay for the operating expenditures during the Fiscal Year.	
Special Assessments-Direct St Joe	
The District will bill a Non-Ad Valorem assessment on all sold and platted parcels to St Joe within the District in order to pay for the operating expenditures during the Fiscal Year.	
Interest	
The District will have all excess funds invested with the State Board of Administration. The amount is based upon the estimated average balance of funds available during the fiscal year.	
Miscellaneous	
Estimated donation revenue from the District's Memorial Tree & Bench Program. These donations help offset the cost of installing memorial trees or benches.	

Expenditures - Administrative	

Supervisors Fees	
Chapter 190 of the Florida Statutes allows for members of the Board of Supervisors to be compensated
$200 per meeting in which they attend. The budgeted amount for the fiscal year is based on all supervisors attending 12 meetings.	
FICA Taxes	
Payroll taxes on Board of Supervisor’s compensation. The budgeted amount for the fiscal year is calculated at 7.65% of the total Board of Supervisor’s payroll expenditures.	
Engineering	
The District's engineer (Atkins) will be providing limited engineering services to the District including attendance as needed and preparation for board meetings, review and execute of documents under the District’s trust indenture and monitoring of District projects. Additionally, The District utilizes Dantin Engineering on an assigned project basis and for engineering consulting services.	
Attorney	
The District’s Attorney, will be providing general legal services to the District, i.e., attendance and preparation for monthly Board meetings, review of contracts, review of agreements and resolutions, and other research assigned as directed by the Board of Supervisors and the District Manager.	
Annual Audit	
The District is required to conduct an annual audit of its financial records by an Independent Certified Public Accounting Firm. The budgeted amount for the fiscal year is based on contracted fees from the previous year engagement plus anticipated increase.	
Assessment Roll Administration	
GMS NF, LLC provides assessment services for closing lot sales, assessment roll services with the local Tax Collector and financial advisory services.	
Arbitrage Rebate	
The District is required to annually have an arbitrage rebate calculation on the District's Series 2013 Capital Improvement Revenue Bonds & Series 2018A1/A2 Capital Improvement Revenue Refunding Bonds, Series 2021 Capital Improvement Revenue Refund Bonds. Currently the District has contracted with Grau & Associates, an independent certified public accounting firm, to calculate the rebate liability and submit a report to the District.	
Dissemination Agent	
The District is required by the Security and Exchange Commission to comply with Rule 15(c)(2)-12(b)(5), which relates to additional reporting requirements for un-rated bond issues.	
Trustee Fees	
The District issued Series 2013 Capital Improvement Revenue Bonds, and Series 2018A1/A2 Capital Improvement Revenue refunding Bonds, and Series 2021 Capital Improvement Revenue Refunding Bonds which are held with a Trustee at US Bank. The amount of the trustee fees is based on the agreement between US Bank and the District.	

Capital Region	
Community Development District	
Budget Narrative	
FY 2027	

Expenditures - Administrative (continued)	
Management Fees	
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services NF, LLC.  The budgeted amount for the fiscal year is based on the contracted fees outlined in Exhibit "A" of the Management Agreement.	
Information Technology	
The District processes all of its financial activities, i.e. accounts payable, financial statements, etc. on a main frame computer leased by Governmental Management Services NF LLC.	
Website Maintenance	
Per Chapter 2014-22, Laws of Florida, all Districts must have a website to provide detailed information on the CDD as well as links to useful websites regarding Compliance issues. This website will be maintained by GMS NF, LLC and updated monthly.	
Postage and Delivery	
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.	
Insurance General Liability	
The District's General Liability & Public Officials Liability Insurance policy is with a qualified entity that specializes in providing insurance coverage to governmental agencies. The amount is based upon similar Community Development Districts.	
Printing and Binding	
Copies used in the preparation of agenda packages, required mailings, and other special projects.	
Legal Advertising	
The District is required to advertise various notices for monthly Board meetings and other public hearings in a newspaper of general circulation.	
Other Current Charges	
This includes monthly bank charges and any other miscellaneous expenses that incur during the year.	
Office Supplies	
Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects.	
Due, Licenses & Subscriptions	
The District is required to pay an annual fee to the Florida Department of Commerce for $175.	

Expenditures – Field	
Property Insurance	
The District's Property Liability Insurance policy is with Egis Insurance specializes in providing insurance coverage to governmental agencies.	
Management Fees	
The District has contracted with GMS, LLC for the supervision and on-site management of Capital Region Community Development District. Their responsibilities include management of field services contracts such as landscape maintenance, ponds maintenance, and security patrols, oversight of capital assets and coordination of maintenance, repairs and replacement of capital assets.	
Utilities - Electric/Water	
The District currently has accounts with City of Tallahassee Utility Company for electric service and water throughout the district.	

Capital Region	
Community Development District	
Budget Narrative	
FY 2027	

Expenditures – Field (continued)	
Landscape/Pond/Irrigation Maintenance	
The District has contracted with All Pro Land Care of Tallahassee, Inc. to provide landscaping, pond and irrigation maintenance services to all the common areas within the District. Services include mowing, trimming, fertilization, maintenance of irrigations systems, and trimming of District owned trees.	

Contracts	
Landscape Maintenance - Contract	
Landscape Maintenance - New Units/Street Trees	

$101,056	$1,212,674	
$458	$5,500	

Pond Maintenance - Contract	The Lake Doctor	Catfish Pond	$342	$4,104	
Pond Maintenance - Contract	The Lake Doctor	Water Quality	$250	$3,000	
Pond Maintenance - Contract	The Lake Doctor	Verdura	$732	$2,928	
Pond Maintenance - Contract		Contingency	$290	$3,480	

$4,167	$50,000	

Pond Repairs - Current Units

Irrigation Maintenance - Contract	
Irrigation Maintenance - New Units	
Irrigation Maintenance - Current Units	
Total	

$4,997	$59,963	
$42	$500	
$3,750	$45,000	
$116,084	$1,387,149	

SWMF Operating Permit Fees	
The District pays the City of Tallahassee, Growth Management Department for inspection of and the administration needed to issue operating permits for District owned and maintained Storm Water facilities.	
Preserve Maintenance	
The District has contracted with All Pro Land Care of Tallahassee, Inc. to maintain the various preserved areas within the District (listed as Park Maintenance), but also contacts out work in other preserve areas to various contractors.	
Tot-Lot Inspection Maintenance	
The District owns a recreational area that requires repairs/replacements as well as mulch twice a year. Also, included is an annual inspection.	
Tree  Removal/Trimming/Cleanup	
Represents cleanup, trimming and removal trees throughout the district.	
Alleyway Maintenance	
The District conducts repairs and maintenance of the District-owned alleyways.	
Miscellaneous Maintenance	
Unscheduled repairs and maintenance to the District’s facilities not allocated to a particular area	
Special Events	
The District contracts with multiple vendors to assist with road closures during Halloween.	
Other Contingencies	
Unscheduled repairs and maintenance to the District’s Facilities throughout the community.	
Capital Expenditures	
Represents any new capital expenditures the District may need to make during the Fiscal Year.	
Common Area Maintenance	
Unscheduled repairs and maintenance to the District’s common area throughout the community.	
Enhancement/Beautification	
Represents the cost of improving any landscaping located within the common areas of the District.	
Reserve for Capital Repairs and Replacements	
This Reserve funding is for the Capital Repairs and Replacements for the District’s capital assets.	

Capital Region	
Community Development District	
Proposed Budget	
Capital Reserve Fund	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Approved
Proposed Budget	
Description	FY2026	3/31/26	6 Months	9/30/26	FY 2027	

REVENUES:

Interest	$	20,300	$	12,907	$	7,093	$	20,000	$	15,450	
Designated Reserves	572,475	560,295	-	560,295	522,888	

TOTAL REVENUES	$	592,775	$	573,202	$	7,093	$	580,295	$	538,338	

EXPENDITURES:
Capital Outlay

Capital Outlay	$	170,507	$	-	$	170,507	$	170,507	$	170,507	
Sidewalk Safety	-	10,000	25,000	35,000	-	
Other Charges	600	382	218	600	600	

TOTAL EXPENDITURES	$	171,107	$	10,382	$	195,725	$	206,107	$	171,107	
Other Sources/(Uses)

Transfer in/(Out)	$	148,700	$	148,700	$	-	$	148,700	$	148,700	

TOTAL OTHER SOURCES/(USES)	$	148,700	$	148,700	$	-	$	148,700	$	148,700	

EXCESS REVENUES (EXPENDITURES)	$	570,368	$	711,521	$	(188,633)	$	522,888	$	515,931	

Capital Region	
Community Development District	
Approved Proposed Budget	
Debt Service Series 2013 Capital Improvement Refunding Bonds	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Approved
Proposed Budget	
Description	FY2026	3/31/26	6 Months	9/30/26	FY 2027	

REVENUES:

Special Assessments-On Roll	$	755,949	$	721,254	$	34,695	$	755,949	$	749,544	
Special Assessments - Prepayments	-	-	-	-	-	
Interest Earnings	8,000	5,391	4,609	10,000	5,000	
Carry Forward Surplus	153,291	151,292	-	151,292	156,004	

TOTAL REVENUES	$	917,240	$	877,937	$	39,304	$	917,241	$	910,548	

EXPENDITURES:

Interest - 11/1	$	125,619	$	125,619	$	-	$	125,619	$	110,956	
Interest - 5/1	125,619	-	125,619	125,619	110,956	
Principal - 5/1	510,000	-	510,000	510,000	540,000	

TOTAL EXPENDITURES	$	761,238	$	125,619	$	635,619	$	761,238	$	761,913	

TOTAL EXPENDITURES	$	761,238	$	125,619	$	635,619	$	761,238	$	761,913	

EXCESS REVENUES (EXPENDITURES)	$	156,003	$	752,318	$	(596,315)	$	156,004	$	148,635	

Interest Due 11/1/27	$	95,431	

Gross Assessments	
Less: Discounts & Collections 7%	
Net Assessments	

$	805,960.85	
    56,417.26 	
$	749,543.59	

Product	Assessable
Units	FY26
Gross Per Unit	Total Gross Assessment	Total Net Assessment

Apartments	654	$	305.08	$	199,522.32	$	185,555.76	
Townhomes	82	279.26	22,899.32	21,296.37	
Single Family 40s	153	326.45	49,946.85	46,450.57	
Single Family 55s	107	396.08	42,380.56	39,413.92	
Single Family 65s	127	488.91	62,091.57	57,745.16	
Single Family 75s	56	559.30	31,320.80	29,128.34	
Single Family 85s	77	605.72	46,640.44	43,375.61	
Single Family 100s	40	698.55	27,942.00	25,986.06	
1/2 Acre	73	838.57	61,215.61	56,930.52	
1 Acre	3	1,094.64	3,283.92	3,054.05	
Blended Commercial	28.970	1,779.79	51,560.52	47,951.28	
Blended Commercial	57.069	3,249.40	185,440.01	172,459.21	
Blended Commercial	1.415	3,831.23	5,421.19	5,041.71	
Blended Commercial	3.620	3,249.40	11,762.83	10,939.43	
Blended Commercial	1.000	4,532.92	4,532.92	4,215.62	
TOTAL ON ROLL	1464.074		$  805,960.85	$ 749,543.59	

Capital Region	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2013 Capital Improvement Refunding Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

12/30/13	$	9,855,000	2.250%	$	-	$	-	$	-	
05/01/14	9,855,000	2.250%	-	165,637		
11/01/14	9,855,000	2.250%	-	246,403	412,040	
05/01/15	9,855,000	2.250%	370,000	246,403		
11/01/15	9,485,000	2.250%	5,000	242,240	863,643	
05/01/16	9,480,000	2.750%	380,000	242,109		
11/01/16	9,100,000	2.750%	-	236,884	858,993	
05/01/17	9,100,000	3.100%	390,000	236,884		
11/01/17	8,710,000	3.100%	5,000	230,839	862,723	
05/01/18	8,705,000	3.600%	405,000	230,689		
11/01/18	8,300,000	3.600%	-	223,399	859,088	
05/01/19	8,300,000	3.900%	420,000	223,399		
11/01/19	7,880,000	3.900%	-	215,209	858,608	
05/01/20	7,880,000	4.200%	445,000	215,209		
11/01/20	7,435,000	4.200%	5,000	205,856	871,065	
05/01/21	7,430,000	4.500%	455,000	205,706		
11/01/21	6,975,000	4.500%	5,000	195,469	861,175	
05/01/22	6,970,000	4.700%	485,000	195,325		
11/01/22	6,485,000	4.700%	-	183,901	864,226	
05/01/23	6,485,000	4.850%	500,000	183,901		
11/01/23	5,985,000	4.850%	-	171,776	855,678	
05/01/24	5,985,000	5.050%	530,000	171,776		
09/01/24	5,455,000	5.050%	650,000	12,793		
11/01/24	4,805,000	5.050%	-	139,519	1,504,088	
05/01/25	4,805,000	5.250%	525,000	139,400	-	
11/01/25	4,280,000	5.250%	-	125,619	790,019	
05/01/26	4,280,000	5.750%	510,000	125,619		
11/01/26	3,770,000	5.750%	-	110,956	746,575	
05/01/27	3,770,000	5.750%	540,000	110,956		
11/01/27	3,230,000	5.750%	-	95,431	746,388	
05/01/28	3,230,000	5.750%	570,000	95,431		
11/01/28	2,660,000	5.750%	-	79,044	744,475	
05/01/29	2,660,000	5.750%	605,000	79,044		
11/01/29	2,055,000	6.000%	-	61,650	745,694	
05/01/30	2,055,000	6.000%	645,000	61,650		
11/01/30	1,410,000	6.000%	-	42,300	748,950	
05/01/31	1,410,000	6.000%	685,000	42,300		
11/01/31	725,000	6.000%	-	21,750	749,050	
05/01/32	725,000	6.000%	725,000	21,750	746,750	

TOTAL	$	9,855,000	$	5,834,224	$	15,689,224	

Capital Region	
Community Development District	
Approved Proposed Budget	
Debt Service Series 2018A1 Capital Improvement Revenue Refunding Bonds	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Approved
Proposed Budget	
Description	FY2026	3/31/26	6 Months	9/30/26	FY 2027	

REVENUES:

Special Assessments-On Roll	$	500,662	$	479,529	$	21,133	$	500,662	$	500,662	
Special Assessments-Direct St Joe	712,537	498,776	213,761	712,537	712,537	
Special Assessments-Prepayments	-	-	-	-	-	
Interest Earnings	20,000	16,460	8,540	25,000	15,000	
Carry Forward Surplus (1)	458,541	469,632	-	469,632	374,213	

TOTAL REVENUES	$	1,691,740	$	1,464,397	$	243,434	$	1,707,831	$	1,602,412	

EXPENDITURES:

Interest - 11/1	$	300,816	$	300,816	$	-	$	300,816	$	283,544	
Special Call - 11/1	-	120,000	-	120,000	-	
Interest - 5/1	300,816	-	297,803	297,803	283,544	
Principal - 5/1	605,000	-	600,000	600,000	625,000	
Special Call - 5/1	-	-	15,000	15,000	-	

TOTAL EXPENDITURES	$	1,206,631	$	420,816	$	912,803	$	1,333,619	$	1,192,088	

TOTAL EXPENDITURES	$	1,206,631	$	420,816	$	912,803	$	1,333,619	$	1,192,088	

EXCESS REVENUES (EXPENDITURES)	$	485,109	$	1,043,581	$	(669,369)	$	374,213	$	410,324	

Interest Due 11/1/27	$	269,091	

(1) Carry Forward is Net of Reserve Requirement

Gross Assessments	
Less: Discounts & Collections 7%	
Net Assessments	

$	538,346.43	
    37,684.25 	
$	500,662.18	

Product	Assessable
Units	FY26
Gross Per Unit	Total Gross Assessment	Total Net Assessment	

Appartments	
ACLF	
Townhomes	
Single Family 40s	
Single Family 55s	
Single Family 65s	
Single Family 75s	
Single Family 85s	
Single Family 90s	
Single Family 100s	
1/2 Acre	
Cottages	

586	$	326.50	$	191,329.00	$	177,935.97	
101	156.69	15,825.69	14,717.89	
0	297.62	-	-	
151	346.64	52,342.64	48,678.66	
154	421.04	64,840.16	60,301.35	
144	519.95	74,872.80	69,631.70	
76	594.36	45,171.36	42,009.36	
34	644.25	21,904.50	20,371.19	
26	693.71	18,036.46	16,773.91	
44	743.17	32,699.48	30,410.52	
21	891.99	18,731.79	17,420.56	
0.75	3,456.73	2,592.55	2,411.07	

TOTAL ON ROLL	1337.75	$	538,346	$	500,662	

DEVELOPABLE ACRES	397.25	$	1,794	$	766,169	$	712,537	

Capital Region	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2018A1 Capital Improvement Refunding Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

05/01/18	$	16,935,000	4.125%	$	-	$	73,313	$	-	
11/01/18	16,935,000		-	412,384	485,697	
05/01/19	16,935,000	4.125%	515,000	412,384		
11/01/19	16,420,000		5,000	401,650	1,334,034	
05/01/20	16,415,000	4.125%	525,000	401,547		
11/01/20	15,890,000		-	390,644	1,317,191	
05/01/21	15,890,000	4.125%	540,000	390,644		
11/01/21	15,350,000		-	379,469	1,310,113	
05/01/22	15,350,000	4.125%	550,000	379,469		
11/01/22	14,800,000		-	368,125	1,297,594	
05/01/23	14,800,000	4.125%	595,000	368,125		
11/01/23	14,205,000		-	355,753	1,318,878	
05/01/24	14,205,000	4.625%	1,525,000	355,753	-	
11/01/24	12,680,000		50,000	318,638	2,249,391	
05/01/25	12,630,000	4.625%	705,000	317,394		
11/01/25	11,925,000		120,000	300,816	1,443,209	
05/01/26	11,805,000	4.625%	615,000	297,803		
11/01/26	11,190,000		-	283,544	1,196,347	
05/01/27	11,190,000	4.625%	625,000	283,544		
11/01/27	10,565,000		-	269,091	1,177,634	
05/01/28	10,565,000	4.625%	655,000	269,091		
11/01/28	9,910,000		-	253,944	1,178,034	
05/01/29	9,910,000	5.125%	690,000	253,944		
11/01/29	9,220,000		-	236,263	1,180,206	
05/01/30	9,220,000	5.125%	725,000	236,263		
11/01/30	8,495,000		-	217,684	1,178,947	
05/01/31	8,495,000	5.125%	765,000	217,684		
11/01/31	7,730,000		-	198,081	1,180,766	
05/01/32	7,730,000	5.125%	800,000	198,081		
10/31/32	6,930,000		-	177,581	1,175,663	
05/01/33	6,930,000	5.125%	845,000	177,581		
11/01/33	6,085,000		-	155,928	1,178,509	
05/01/34	6,085,000	5.125%	890,000	155,928		
11/01/34	5,195,000		-	133,122	1,179,050	
05/01/35	5,195,000	5.125%	935,000	133,122		
11/01/35	4,260,000		-	109,163	1,177,284	
04/30/36	4,260,000	5.125%	985,000	109,163		
10/31/36	3,275,000		-	83,922	1,178,084	
05/01/37	3,275,000	5.125%	1,035,000	83,922		
10/31/37	2,240,000		-	57,400	1,176,322	
05/01/38	2,240,000	5.125%	1,090,000	57,400		
11/01/38	1,150,000		-	29,469	1,176,869	
05/01/39	1,150,000	5.125%	1,150,000	29,469	1,179,469	

TOTAL	$	16,935,000	$	10,334,291	$	27,269,291	

Capital Region	
Community Development District	
Approved Proposed Budget	
Debt Service Series 2018A2 Capital Improvement Revenue Refunding Bonds	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Approved
Proposed Budget	
Description	FY2026	3/31/26	6 Months	9/30/26	FY 2027	

REVENUES:

Special Assessments-On Roll	$	274,147	$	268,011	$	6,136	$	274,147	$	274,147	
Interest Earnings	5,000	4,140	3,860	8,000	4,000	
Carry Forward Surplus (1)	51,319	57,133	-	57,133	67,295	

TOTAL REVENUES	$	330,466	$	329,284	$	9,996	$	339,280	$	345,443	

EXPENDITURES:

Interest - 11/1	$	31,050	$	31,050	$	-	$	31,050	$	26,220	
Special Call - 11/1	-	5,000	-	5,000	-	
Interest - 5/1	31,050	-	30,935	30,935	26,220	
Principal - 5/1	200,000	-	200,000	200,000	210,000	
Special Call - 5/1	-	-	5,000	5,000	-	

TOTAL EXPENDITURES	$	262,100	$	36,050	$	235,935	$	271,985	$	262,440	

TOTAL EXPENDITURES	$	262,100	$	36,050	$	235,935	$	271,985	$	262,440	

EXCESS REVENUES (EXPENDITURES)	$	68,366	$	293,234	$	(225,939)	$	67,295	$	83,003	

Interest Due 11/1/27	$	21,390	

(1) Carry Forward is Net of Reserve Requirement

Gross Assessments	
Less: Discounts & Collections 7%	
Net Assessments	

$	294,782.06	
    20,634.74 	
$	274,147.31	

Product	Assessable
Units	FY26
Gross Per Unit	Total Gross Assessment	Total Net Assessment	

Golf Club	
Catholic School	
Commercial	
Commercial-2	
Appartments	

1	$	21,400.59	$	21,400.59	$	19,902.55	
1	20,520.07	20,520.07	19,083.67	
43.37	3,690.94	160,083.45	148,877.61	
3.84	2,207.33	8,476.15	7,882.82	
241	349.80	84,301.80	78,400.67	

TOTAL ON ROLL	290.212	$	294,782	$	274,147	

Capital Region	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2018A2 Capital Improvement Refunding Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

05/01/18	$	2,675,000	3.875%	$	-	$	10,384	$	-	
11/01/18	2,675,000		-	58,408	68,791	
05/01/19	2,675,000	3.875%	170,000	58,408		
11/01/19	2,505,000		-	55,096	283,503	
05/01/20	2,505,000	3.875%	170,000	55,096		
11/01/20	2,335,000		-	51,784	276,879	
05/01/21	2,335,000	3.875%	180,000	51,784		
11/01/21	2,155,000		-	48,278	280,062	
05/01/22	2,155,000	3.875%	180,000	48,278		
11/01/22	1,975,000		-	44,773	273,051	
05/01/23	1,975,000	3.875%	190,000	44,773		
11/01/23	1,785,000		5,000	41,055	280,828	
05/01/24	1,780,000	4.600%	195,000	40,940	-	
11/01/24	1,585,000		5,000	36,455	277,395	
05/01/25	1,580,000	4.600%	230,000	36,340		
11/01/25	1,350,000		5,000	30,935	302,275	
05/01/26	1,345,000	4.600%	205,000	30,935		
11/01/26	1,140,000		-	26,220	262,155	
05/01/27	1,140,000	4.600%	210,000	26,220		
11/01/27	930,000		-	21,390	257,610	
05/01/28	930,000	4.600%	215,000	21,390		
11/01/28	715,000		-	16,445	252,835	
05/01/29	715,000	4.600%	225,000	16,445		
11/01/29	490,000		-	11,270	252,715	
05/01/30	490,000	4.600%	240,000	11,270		
11/01/30	250,000		-	5,750	257,020	
05/01/31	250,000	4.600%	250,000	5,750	255,750	

TOTAL	$	2,675,000	$	905,869	$	3,580,869	

Capital Region	
Community Development District	
Approved Proposed Budget	
Debt Service Series 2021 Capital Improvement Revenue Refunding Bonds	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Approved
Proposed Budget	
Description	FY2026	3/31/26	6 Months	9/30/26	FY 2027	

REVENUES:

Special Assessments-On Roll	$	318,937	$	308,188	$	10,749	$	318,937	$	318,937	
Interest Earnings	3,250	2,762	2,738	5,500	3,000	
Carry Forward Surplus (1)	69,079	69,481	-	69,481	74,793	

TOTAL REVENUES	$	391,267	$	380,431	$	13,487	$	393,918	$	396,730	

EXPENDITURES:

Interest - 11/1	$	22,063	$	22,063	$	-	$	22,063	$	18,625	
Interest - 5/1	22,063	-	22,063	22,063	18,625	
Principal - 5/1	275,000	-	275,000	275,000	285,000	

TOTAL EXPENDITURES	$	319,125	$	22,063	$	297,063	$	319,125	$	322,250	

TOTAL EXPENDITURES	$	319,125	$	22,063	$	297,063	$	319,125	$	322,250	

EXCESS REVENUES (EXPENDITURES)	$	72,142	$	358,369	$	(283,575)	$	74,793	$	74,480	

Interest Due 11/1/27	$	15,063	

(1) Carry Forward is Net of Reserve Requirement

Gross Assessments	
Less: Discounts & Collections 7%	
Net Assessments	

$	342,943.04	
    24,006.01 	
$	318,937.03	

Product	Assessable
Units	FY27
Gross Per Unit	Total Gross Assessment	Total Net Assessment	

Townhomes	
Townhomes-1	
Single Family 30s	
Single Family 40s	
Single Family 55s	
Single Family 55s-1	
Single Family 65s	
Single Family 65s-1	
Single Family 75s	
Single Family 75s-1	
Single Family 100s	
Single Family 100s-1	
1/2 acre	
1/2 acre-1	
1 acre	
1acre-1	

60	$	215.13	$	12,907.80	$	12,004.25	
110	258.87	28,475.70	26,482.40	
53	282.54	14,974.62	13,926.40	
28	302.61	8,473.08	7,879.96	
28	304.76	8,533.28	7,935.95	
82	367.13	30,104.66	27,997.33	
42	376.47	15,811.74	14,704.92	
69	453.20	31,270.80	29,081.84	
34	430.26	14,628.84	13,604.82	
43	518.46	22,293.78	20,733.22	
32	537.82	17,210.24	16,005.52	
89	647.54	57,631.06	53,596.89	
22	645.39	14,198.58	13,204.68	
44	777.33	34,202.52	31,808.34	
25	842.59	21,064.75	19,590.22	
11	1,014.69	11,161.59	10,380.28	

TOTAL ON ROLL	772	$	342,943	$	318,937	

Capital Region	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2021 Capital Improvement Refunding Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

11/01/21	$	2,800,000	2.500%	$	-	$	43,944	$	43,944	
05/01/22	2,800,000	2.5000%	250,000	35,000		
11/01/22	2,550,000	2.5000%	-	31,875	316,875	
05/01/23	2,550,000	2.5000%	255,000	31,875		
11/01/23	2,295,000	2.5000%	-	28,688	315,563	
05/01/24	2,295,000	2.5000%	260,000	28,688	-	
11/01/24	2,035,000	2.5000%	-	25,438	314,125	
05/01/25	2,035,000	2.5000%	270,000	25,438		
11/01/25	1,765,000	2.5000%	-	22,063	317,500	
05/01/26	1,765,000	2.5000%	275,000	22,063		
11/01/26	1,490,000	2.5000%	-	18,625	315,688	
05/01/27	1,490,000	2.5000%	285,000	18,625		
11/01/27	1,205,000	2.5000%	-	15,063	318,688	
05/01/28	1,205,000	2.5000%	290,000	15,063		
11/01/28	915,000	2.5000%	-	11,438	316,500	
05/01/29	915,000	2.5000%	295,000	11,438		
11/01/29	620,000	2.5000%	-	7,750	314,188	
05/01/30	620,000	2.5000%	305,000	7,750		
11/01/30	315,000	2.5000%	-	3,938	316,688	
05/01/31	315,000	2.5000%	315,000	3,938	318,938	

TOTAL	$	2,800,000	$	408,694	$	3,208,694	

Capital Region	
Community Development District	
Non-Ad Valorem Assessments Comparison	
2026-2027	

Neighborhood	O&M Units	Bonds Units 2013	Bonds Units 2018A1	Bonds Units 2018A2	Bonds Units 2021	
Annual Maintenance Assessments	
Annual Debt Assessments	
Total Assessed Per Unit	
		refinanced	ex 2008	ex 2011	ex 2011	FY 2027	FY2026	Increase/ (decrease)	FY 2027	FY2026	Increase/ (decrease)	FY 2027	FY2026	Increase/ (decrease)	
						O&M	O&M	O&M	Series 2013	Series 2018A1	Series 2018A2	Series 2021	Series 2013	Series 2018A1	Series 2018A2	Series 2021	Total	Total	Total	Total	%	
																	
Apartments	1745	654	586	241	0	$	286.73	$	275.70	$	11.03	$	306.34	$	326.50	$	349.80	$	-	$	306.34	$	326.50	$	349.80	$	-	$	-	$	1,269.37	$	1,258.34	$	11.03	4.000%	
Townhomes	188	82	0	0	60	$	275.92	$	265.31	$	10.61	$	279.26	$	297.62	$	-	$	215.13	$	279.26	$	297.62	$	-	$	215.13	$	-	$	1,067.93	$	1,057.32	$	10.61	4.000%	
Townhomes-1	110	0	0	0	110	$	275.92	$	265.31	$	10.61	$	-	$	-	$	-	$	258.87	$	-	$	-	$	-	$	258.87	$	-	$	534.79	$	524.18	$	10.61	4.000%	
Single Family 30s	53	0	0	0	53	$302.20	$	290.58	$	11.62	$	-	$	-	$	-	$	282.54	$	-	$	-	$	-	$	282.54	$	-	$	584.74	$	573.12	$	11.62	4.000%	
Single Family 40s	332	153	151	0	28	$	321.91	$	309.53	$	12.38	$	326.45	$	346.64	$	-	$	302.61	$	326.45	$	346.64	$	-	$	302.61	$	-	$	1,297.61	$	1,285.23	$	12.38	4.000%	
Single Family 55s	289	107	154	0	28	$	390.88	$	375.84	$	15.03	$	396.08	$	421.04	$	-	$	304.76	$	396.08	$	421.04	$	-	$	304.76	$	-	$	1,512.76	$	1,497.72	$	15.03	4.000%	
Single Family 55s-1	82	0	0	0	82	$	390.88	$	375.84	$	15.03	$	-	$	-	$	-	$	367.13	$	-	$	-	$	-	$	367.13	$	-	$	758.01	$	742.97	$	15.03	4.000%	
Single Family 65s	313	127	144	0	42	$	482.86	$	464.28	$	18.57	$	488.91	$	519.95	$	-	$	376.47	$	488.91	$	519.95	$	-	$	376.47	$	-	$	1,868.19	$	1,849.61	$	18.57	4.000%	
Single Family 65's-1	69	0	0	0	69	$	482.86	$	464.28	$	18.57	$	-	$	-	$	-	$	453.20	$	-	$	-	$	-	$	453.20	$	-	$	936.06	$	917.48	$	18.57	4.000%	
Single Family 75s	166	56	76	0	34	$	551.83	$	530.60	$	21.22	$	559.30	$	594.36	$	-	$	430.26	$	559.30	$	594.36	$	-	$	430.26	$	-	$	2,135.75	$	2,114.52	$	21.22	4.000%	
Single Family 75s-1	43	0	0	0	43	$	551.83	$	530.60	$	21.22	$	-	$	-	$	-	$	518.46	$	-	$	-	$	-	$	518.46	$	-	$	1,070.29	$	1,049.06	$	21.22	4.000%	
Single Family 85s	111	77	34	0	0	$	600.57	$	577.47	$	23.10	$	605.72	$	644.25	$	-	$	-	$	605.72	$	644.25	$	-	$	-	$	-	$	1,850.54	$	1,827.44	$	23.10	4.000%	
Single Family 90s	26	0	26	0	0	$	678.84	$	652.73	$	26.11	$	-	$	693.71	$	-	$	-	$	-	$	693.71	$	-	$	-	$	-	$	1,372.55	$	1,346.44	$	26.11	4.000%	
Single Family 100s	116	40	44	0	32	$	689.80	$	663.27	$	26.53	$	698.55	$	743.17	$	-	$	537.82	$	698.55	$	743.17	$	-	$	537.82	$	-	$	2,669.34	$	2,642.81	$	26.53	4.000%	
Single Family 100s-1	89	0	0	0	89	$	689.80	$	663.27	$	26.53	$	-	$	-	$	-	$	647.54	$	-	$	-	$	-	$	647.54	$	-	$	1,337.34	$	1,310.81	$	26.53	4.000%	
1/2 Ac	116	73	21	0	22	$	827.77	$	795.93	$	31.84	$	838.57	$	891.99	$	-	$	645.39	$	838.57	$	891.99	$	-	$	645.39	$	-	$	3,203.72	$	3,171.88	$	31.84	4.000%	
1/2 Ac-1	44	0	0	0	44	$	827.77	$	795.93	$	31.84	$	-	$	-	$	-	$	777.33	$	-	$	-	$	-	$	777.33	$	-	$	1,605.10	$	1,573.26	$	31.84	4.000%	
1Ac	29	3	0	0	25	$ 1,080.69	$	1,039.13	$	41.57	$ 1,094.64	$	-	$	-	$	842.59	$ 1,094.64	$	-	$	-	$	842.59	$	-	$	3,017.92	$	2,976.36	$	41.57	4.000%	
1Ac-1	11	0	0	0	11	$ 1,080.69	$	1,039.13	$	41.57	$	-	$	-	$	-	$ 1,014.69	$	-	$	-	$	-	$ 1,014.69	$	-	$	2,095.38	$	2,053.82	$	41.57	4.000%	
ACLF	101	0	101	0	0	$	144.81	$	139.24	$	5.57	$	-	$	156.69	$	-	$	-	$	-	$	156.69	$	-	$	-	$	-	$	301.50	$	295.93	$	5.57	4.000%	
																						
Blended Commercial	32.45	28.97	0	0	0	$ 3,219.85	$	3,096.01	$	123.84	$ 1,779.79	$	-	$	-	$	-	$ 1,779.79	$	-	$	-	$	-	$	-	$	4,999.64	$	4,875.80	$	123.84	4.000%	
Blended Commercial	57.069	57.069	0	0	0	$ 3,219.85	$	3,096.01	$	123.84	$ 3,249.40	$	-	$	-	$	-	$ 3,249.40	$	-	$	-	$	-	$	-	$	6,469.25	$	6,345.41	$	123.84	4.000%	
Blended Commercial	0	0	0	0	0	$ 3,219.85	$	3,096.01	$	123.84	$ 3,249.40	$	-	$	-	$	-	$ 3,249.40	$	-	$	-	$	-	$	-	$	6,469.25	$	6,345.41	$	123.84	4.000%	
Blended Commercial	1.415	1.415	0	0	0	$ 3,219.85	$	3,096.01	$	123.84	$ 3,249.40	$	-	$	-	$	-	$ 3,249.40	$	-	$	-	$	-	$	-	$	6,469.25	$	6,345.41	$	123.84	4.000%	
Blended Commercial	3.62	3.62	0	0	0	$ 3,219.85	$	3,096.01	$	123.84	$ 3,249.40	$	-	$	-	$	-	$ 3,249.40	$	-	$	-	$	-	$	-	$	6,469.25	$	6,345.41	$	123.84	4.000%	
Blended Commercial	1	1	0	0	0	$ 3,219.85	$	3,096.01	$	123.84	$ 4,532.92	$	-	$	-	$	-	$ 4,532.92	$	-	$	-	$	-	$	-	$	7,752.77	$	7,628.93	$	123.84	4.000%	
Golf Club	1	0	0	1	0	$ 17,681.50	$  17,001.44	$	680.06	$	-	$	-	$21,400.59	$	-	$	-	$	-	$21,400.59	$	-	$	-	$	39,082.09	$	38,402.03	$	680.06	4.000%	
Catholic School	1	0	0	1	0	$ 16,961.21	$  16,308.85	$	652.35	$	-	$	-	$20,520.07	$	-	$	-	$	-	$20,520.07	$	-	$	-	$	37,481.28	$	36,828.92	$	652.35	4.000%	
Southwood House	0.39	0	0	0	0	$ 3,219.85	$	3,096.01	$	123.84	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	3,219.85	$	3,096.01	$	123.84	4.000%	
Cottages	0.75	0	0.75	0	0	$ 3,219.85	$	3,096.01	$	123.84	$	-	$ 3,456.73	$	-	$	-	$	-	$ 3,456.73	$	-	$	-	$	-	$	6,676.58	$	6,552.74	$	123.84	4.000%	
Commercial	43.372	0	0	43.372	0	$ 3,219.85	$	3,096.01	$	123.84	$	-	$	-	$ 3,690.94	$	-	$	-	$	-	$ 3,690.94	$	-	$	-	$	6,910.79	$	6,786.95	$	123.84	4.000%	
Commercial-2	3.84	0	0	3.84	0	$ 3,219.85	$	3,096.01	$	123.84	$	-	$	-	$ 2,207.33	$	-	$	-	$	-	$ 2,207.33	$	-	$	-	$	5,427.18	$	5,303.34	$	123.84	4.000%	
Total	4178.9	1464.07	1337.8	290.212	772			

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