Adopted Budget
Fiscal Year 2023

Siena North Community Development District

August 19, 2022

Siena North
Community Development District

General Fund

Adopted Budget
 Description		 	FY2022	

Actual thru
   7/31/2022 

Projected Next
    2 Months 

Total Projected at
   9/30/2022 

Adopted Budget
 	FY2023	

Revenues

Developer Contributions/Maint Assessment

$74,975

$43,696

$12,036

$55,732

$75,000

Total Revenues

 	$74,975 

 	$43,696 

 	$12,036 

 	$55,732 

 	$75,000 

Expenditures

Administrative

Engineering Fees Arbitrage Rebate Dissemination Agent Assessment Roll Attorney Fees Annual Audit Trustee Fees Management Fees Computer Time Telephone
Postage
Printing & Binding Insurance
Legal Advertising Other Current Charges Website Admin
Office Supplies
Dues, Licenses & Subscriptions

$200
$1,200
$1,200
$2,000
$12,000
$4,000
$3,500
$25,000
$500
$100
$200
$100
$5,500
$1,200
$200
$1,000
$100
$175

$1,500
$0
$1,108
$0
$7,383
$0
$0
$20,833
$417
$0
$106
$194
$5,000
$170
$643
$1,000
$0
$175

$1,071
$0
$92
$2,000
$2,461
$0
$0
$4,167
$83
$50
$125
$50
$0
$750
$129
$200
$25
$0

$2,571
$0
$1,200
$2,000
$9,844
$0
$0
$25,000
$500
$50
$231
$244
$5,000
$920
$772
$1,200
$25
$175

$2,000
$550
$2,000
$2,000
$12,000
$3,300
$3,500
$25,000
$1,000
$100
$200
$225
$5,625
$1,000
$675
$1,200
$50
$175

Total Administrative

 	$58,175 

 	$38,529 

 	$11,203 

 	$49,732 

 	$60,600 

Field

Field Management Landscape Maintenance Contingency

$0
$14,400
$2,400

$0
$0
$0

$0
$4,500
$1,500

$0
$4,500
$1,500

$0
$14,400
$0

Total Field

 	$16,800 

 	$0 

 	$6,000 

 	$6,000 

 	$14,400 

Total Expenditures

 	$74,975 

 	$38,529 

 	$17,203 

 	$55,732 

 	$75,000 

Assigned Fund Balance

 	$0 

 	$5,167 

 	($5,167)

 	($0)

 	$0 

Page 1

O&M Assessments
Annual Net			Annual Gross* Land Use	 No. of Units		 	Per Unit		 		Per Unit	

Single Family 100'	19	$600.00	$631.58
Single Family 50'	106	$600.00	$631.58
Totals	125
Less: Discounts/Commissions (5%)

Annual Gross* Total

$12,000.02
$66,947.48

$78,947.50
-$3,947.38

$75,000.13

Siena North
Community Development District
GENERAL FUND BUDGET

REVENUES:

Developer Contributions/Assessments
The District will levy a Non-Ad Valorem assessment on all the platted lots within the District to pay all of the operating expenses for the Fiscal Year in accordance with the adopted budget.

EXPENDITURES:

Administrative:

Engineering Fees
The District's engineer will be providing general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review invoices, etc.

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.

Arbitrage
The District is required to have an annual arbitrage rebate calculation on the District’s Bonds. The District will contract with an independent auditing firm to perform the calculations.

Assessment Roll
Represents cost associated with annually levying and collection Non-Ad Valorem Assessments utilized to fund the operating and debt service cost of the District.

Attorney Fees
The District's legal counsel will be providing general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating & maintenance contracts, etc.

Annual Audit
The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm.

Trustee Fees
The District bonds will be held and administered by a Trustee. This represents the trustee annual fee.

Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services – South Florida, LLC.

Computer Time
The District processes the financial activities, i.e. accounts payable, financials statements etc. on a mainframe computer leased by GMS-SF, LLC.

Telephone
Telephone and fax machine

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

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

Insurance
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.

Page 2

Siena North
Community Development District
GENERAL FUND BUDGET

Administrative: (continued)

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 that incurred during the year.

Website Administration
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-SF, LLC and updated monthly.

Office Supplies
Miscellaneous office supplies

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

Field:

Field Manager
The supervision and on-site management of the District. The responsibilities include reviewing contracts and other maintenance related items.

Landscape Maintenance
The District will enter into a contract for the monthly maintenance of common areas.

Porter Service
The cost associated with any general maintenance services.

Page 3

Siena North
Community Development District

Debt Service Fund
Series 2022 Special Assessment Bond

Adopted Budget
 	FY2022	

Actual thru
   7/31/2022 

Projected Next
    2 Months 

Total Projected at
   9/30/2022 

Adopted Budget
 	FY2023	

 Description	

Revenues

Special Assessments Direct Assessment Interest Income
Carry Forward Surplus (1)

$0
$0
$0
$0

$0
$0
$30
$0

$0
$0
$40
$0

$0
$0
$70
$0

$157,600
$51,561
$0
$0

Total Revenues

 	$0 

 	$30 

 	$40 

 	$70 

 	$209,161 

Expenditures

Series 2022 Interest 12/15 Principal 06/15 Interest 06/15

$0
$34,661
$0

$0
$34,661
$0

$0
$0
$0

$0
$34,661
$0

$51,561
$50,000
$51,561

Total Expenditures

 	$34,661 

 	$34,661 

 	$0 

 	$34,661 

 	$153,123 

Other Financing Sources/(Uses)

Bond Proceeds

$73,649

$73,649

$0

$73,649

$0

Total Other Financing Sources/(Uses)

 	$73,649 

 	$73,649 

 	$0 

 	$73,649 

 	$0 

Excess Revenues

 	$38,989 

$39,019

$40

$39,059

$56,039

(1) Carry forward is net of Reserve Fund requirement.

12/15/23 Interest

$

50,843

Page 4

Debt Service Assessments
Annual Net			Annual Gross*		Annual Gross* Land Use	 No. of Units		 	Per Unit		 		Per Unit			Total

Single Family 100'	19	$1,600.00	$1,684.21
Single Family 50'	106	$1,200.00	$1,263.16
Totals	125
Less: Discounts/Commissions (5%)

$31,999.99
$133,894.96

$165,894.95
-$8,294.75

$157,600.20

Siena North
Community Development District

Series 2022 Special Assessment Bond
Amortization Schedule

PRINCIPAL
 	BALANCE	
$2,710,000.00

 	DATE	
15-Jun-22

 	INTEREST	
$34,660.62

 	PRINCIPAL	
$0.00

 	TOTAL	
$34,660.62

15-Dec-23
15-Jun-24
15-Dec-24
15-Jun-25
15-Dec-25
15-Jun-26
15-Dec-26
15-Jun-27
15-Dec-27
15-Jun-28
15-Dec-28
15-Jun-29
15-Dec-29
15-Jun-30
15-Dec-30
15-Jun-31
15-Dec-31
15-Jun-32
15-Dec-32
15-Jun-33
15-Dec-33
15-Jun-34
15-Dec-34
15-Jun-35
15-Dec-35
15-Jun-36
15-Dec-36
15-Jun-37
15-Dec-37
15-Jun-38
15-Dec-38
15-Jun-39
15-Dec-39
15-Jun-40
15-Dec-40
15-Jun-41
15-Dec-41
15-Jun-42
15-Dec-42
15-Jun-43
15-Dec-43
15-Jun-44
15-Dec-44
15-Jun-45
15-Dec-45
15-Jun-46
15-Dec-46
15-Jun-47
15-Dec-47
15-Jun-48
15-Dec-48
15-Jun-49
15-Dec-49
15-Jun-50
15-Dec-50
15-Jun-51
15-Dec-51
15-Jun-52

$2,660,000.00
$2,660,000.00
$2,605,000.00
$2,605,000.00
$2,550,000.00
$2,550,000.00
$2,495,000.00
$2,495,000.00
$2,440,000.00
$2,440,000.00
$2,380,000.00
$2,380,000.00
$2,320,000.00
$2,320,000.00
$2,255,000.00
$2,255,000.00
$2,190,000.00
$2,190,000.00
$2,120,000.00
$2,120,000.00
$2,050,000.00
$2,050,000.00
$1,975,000.00
$1,975,000.00
$1,900,000.00
$1,900,000.00
$1,820,000.00
$1,820,000.00
$1,740,000.00
$1,740,000.00
$1,655,000.00
$1,655,000.00
$1,565,000.00
$1,565,000.00
$1,470,000.00
$1,470,000.00
$1,375,000.00
$1,375,000.00
$1,275,000.00
$1,275,000.00
$1,170,000.00
$1,170,000.00
$1,060,000.00
$1,060,000.00
$945,000.00
$945,000.00
$825,000.00
$825,000.00
$700,000.00
$700,000.00
$570,000.00
$570,000.00
$435,000.00
$435,000.00
$295,000.00
$295,000.00
$150,000.00
$150,000.00

$50,842.50
$50,842.50
$50,051.88
$50,051.88
$49,261.25
$49,261.25
$48,470.63
$48,470.63
$47,680.00
$47,680.00
$46,690.00
$46,690.00
$45,700.00
$45,700.00
$44,627.50
$44,627.50
$43,555.00
$43,555.00
$42,400.00
$42,400.00
$41,000.00
$41,000.00
$39,500.00
$39,500.00
$38,000.00
$38,000.00
$36,400.00
$36,400.00
$34,800.00
$34,800.00
$33,100.00
$33,100.00
$31,300.00
$31,300.00
$29,400.00
$29,400.00
$27,500.00
$27,500.00
$25,500.00
$25,500.00
$23,400.00
$23,400.00
$21,200.00
$21,200.00
$18,900.00
$18,900.00
$16,500.00
$16,500.00
$14,000.00
$14,000.00
$11,400.00
$11,400.00
$8,700.00
$8,700.00
$5,900.00
$5,900.00
$3,000.00
 	$3,000.00
 	$1,995,340.64

$0.00
$55,000.00
$0.00
$55,000.00
$0.00
$55,000.00
$0.00
$55,000.00
$0.00
$60,000.00
$0.00
$60,000.00
$0.00
$65,000.00
$0.00
$65,000.00
$0.00
$70,000.00
$0.00
$70,000.00
$0.00
$75,000.00
$0.00
$75,000.00
$0.00
$80,000.00
$0.00
$80,000.00
$0.00
$85,000.00
$0.00
$90,000.00
$0.00
$95,000.00
$0.00
$95,000.00
$0.00
$100,000.00
$0.00
$105,000.00
$0.00
$110,000.00
$0.00
$115,000.00
$0.00
$120,000.00
$0.00
$125,000.00
$0.00
$130,000.00
$0.00
$135,000.00
$0.00
$140,000.00
$0.00
$145,000.00
$0.00
 	$150,000.00
 	$2,710,000.00

$156,685.00

$155,103.76

$153,522.50

$151,941.26

$155,360.00

$153,380.00

$156,400.00

$154,255.00

$157,110.00

$154,800.00

$157,000.00

$154,000.00

$156,000.00

$152,800.00

$154,600.00

$156,200.00

$157,600.00

$153,800.00

$155,000.00

$156,000.00

$156,800.00

$157,400.00

$157,800.00

$158,000.00

$158,000.00

$157,800.00

$157,400.00

$156,800.00

 	$156,000.00
 	$4,705,340.64

Page 5

15-Dec-22	$2,710,000.00	$51,561.25	$0.00
15-Jun-23	$2,710,000.00	$51,561.25	$50,000.00	$153,122.50