Siena North	
Community Development District	

Adopted Budget	
FY 2026	

Table of Contents

1

2-3

4

5

	General Fund

	Narratives

	Debt Service Fund Series 2022

	Amortization Schedule Series 2022

6		Assessment Schedule

Siena North	
Community Development District	
Adopted Budget	
General Fund	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2025	5/31/25	4 Months	9/30/25	FY 2026	

REVENUES:

Special Assessments - On Roll	$	75,000	$	74,488	$	512	$	75,000	$	124,644	
Developer Contributions	42,300	-	-	-	-	

TOTAL REVENUES	$	117,300	$	74,488	$	512	$	75,000	$	124,644	

EXPENDITURES:

Administrative:						
Engineering	$	1,500	$	279	$	1,000	$	1,279	$	1,200	
Attorney	10,000	3,904	2,789	6,693	7,500	
Annual Audit	4,600	5,500	-	5,500	5,600	
Trustee Fees	4,041	4,041	-	4,041	4,041	
Assessment Administration	2,200	2,200	-	2,200	2,200	
Arbitrage Rebate	-	-	550	550	550	
Dissemination Agent	2,200	1,467	733	2,200	2,200	
Management Fees	27,500	18,333	9,167	27,500	29,425	
Information Technology	1,100	733	367	1,100	1,177	
Website Maintenance	1,320	880	440	1,320	1,412	
Telephone	50	-	-	-	-	
Postage & Delivery	50	21	20	41	40	
Insurance General Liability	6,450	5,814	-	5,814	6,450	
Printing & Binding	100	30	50	80	75	
Legal Advertising	600	1,274	1,800	3,074	3,000	
Other Current Charges	1,464	1,030	386	1,416	1,399	
Office Supplies	50	-	-	-	-	
Dues, Licenses & Subscriptions	175	175	-	175	175	

TOTAL ADMINISTRATIVE	$	63,400	$	45,681	$	17,301	$	62,982	$	66,444	

Operations & Maintenance

Field Operations						
Electric	$	34,700	$	20,309	$	18,000	$	38,309	$	36,000	
Water	$	-	$	2,224	$	750	$	2,974	$	3,000	
Landscape Maintenance	19,200	9,600	9,600	19,200	19,200	

Total Field Operations	$	53,900	$	32,133	$	28,350	$	60,483	$	58,200	

TOTAL EXPENDITURES	$	117,300	$	77,814	$	45,651	$	123,465	$	124,644	

EXCESS REVENUES (EXPENDITURES)	$	-	$	(3,326)	$	(45,139)	$	(48,465)	$	-	

Gross Assessments	
Less: Discounts & Collections 5%	
Net Assessments	

$	131,205	
	6,560 	
 $	124,644 	

Product	Assessable Units	Total Gross Assessment	FY25
Gross Per Unit	FY26
Gross Per Unit	Increase/ (Decrease)	

Single Family-100's	19	$	19,943.10	$	631.58	$	1,049.64	$	418.06	
Single Family-50's	106	$  111,261.53	$	631.58	$	1,049.64	$	418.06	

Total	125	$ 131,204.63	

Siena North	
Community Development District	
Budget Narrative	
Fiscal Year 2026	

REVENUES	

Maintenance 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.	
Developer Contributions	
The Streetlighting and increase in Landscaping will be covered by the Developer for FY2026.	

Expenditures - Administrative	

District Engineering Fees	
The District has contracted with Alvarez Engineering to providing general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review invoices, etc.	
Attorney Fees	
The District has contracted with Billing, Cochran, Lyles, Mauro and Ramsey, PA as legal counsel who 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. The District has contracted with Grau and Associates.	
Assessment Roll Administration	
Represents cost associated with annually levying and collection Non-Ad Valorem Assessments utilized to fund the operating and debt service cost of the District. GMS-SF serves as the Assessment Administrator.	
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. GMS-SF serves as the Dissemination Agent.	
Trustee Fees	
The District has issued Series 2022 Special Assessment bonds which are held and administered by U.S. Bank as Trustee. This represents the trustee annual fee.	
District Management Fees	
The District receives Management, Accounting and Administrative services as part of a Management Agreement with GMS-SF, LLC.	
Information Technology	
The District processes all of its financial activities, i.e. accounts payable, financial statements, etc. on a main frame computer leased by GMS-SF, LLC.	
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.	
Telephone	
Telephone and fax machine.	
Postage and Delivery	
Mailing of agenda packages, overnight deliveries, correspondence, etc.	
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	
Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc	
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.	

Siena North	
Community Development District	
Budget Narrative	
Fiscal Year 2026	

Expenditures - Administrative (continued)	

Office Supplies	
Miscellaneous office supplies	
Due, 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.	

Expenditures – Field Operations	

Electric	
The District has 59 streetlights with FPL.	
Water	
The District has one account with Miami-Dade Water & Sewer.	
Landscape Maintenance	
The District has contracted qwith Tony's Nursery & Garden for the monthly maintenance of common areas.	

Siena North	
Community Development District	
Adopted Budget	
Debt Service Series 2022 Special Assessment Bonds	

Adopted Budget	
Actuals Thru	
Projected Next	
Projected Thru	Adopted Budget	
Description	FY2025	5/31/25	4 Months	9/30/25	FY 2026	

REVENUES:

Special Assessments-On Roll	$	157,600	$	156,523	$	1,077	$	157,600	$	157,600	
Interest Earnings	-	4,281	950	5,231	-	
Carry Forward Surplus (1)	68,480	60,639	-	60,639	68,367	

TOTAL REVENUES	$	226,080	$	221,443	$	2,027	$	223,471	$	225,967	

EXPENDITURES:

Interest 12/15	$	50,052	$	50,052	$	-	$	50,052	$	49,261	
Principal 06/15	55,000	-	55,000	55,000	55,000	
Interest 06/15	50,052	-	50,052	50,052	$	49,261	

TOTAL EXPENDITURES	$	155,104	$	50,052	$	105,052	$	155,104	$	153,523	

Other Sources/(Uses)

Interfund transfer In/(Out)	$	-	$	-	$	-	$	-	$	-	

TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	

TOTAL EXPENDITURES	$	155,104	$	50,052	$	105,052	$	155,104	$	153,523	

EXCESS REVENUES (EXPENDITURES)	$	70,976	$	171,391	$	(103,025)	$	68,367	$	72,444	

Interest Due 11/1/26	$48,470.63	

(1) Carry Forward is Net of Reserve Requirement

Gross Assessments	
Less: Discounts & Collections 5%	
Net Assessments	

$	165,895	
	8,295 	
 $	157,600 	

Product	Assessable Units	Total Gross Assessment	FY25
Gross Per Unit	FY26
Gross Per Unit	Increase/ (Decrease)	

Single Family-100's	19	$	31,999.99	$	1,684.21	$	1,684.21	$	-	
Single Family-50's	106	$	133,894.96	$	1,263.16	$	1,263.16	$	-	

Total	125	$  165,894.95	

Siena North	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2022 Special Assessment Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

06/15/22	$	2,710,000	2.875%	$	-	$	34,661	$	-	
12/15/22	2,710,000	2.875%	-	51,561	86,221.87	
06/15/23	2,710,000	2.875%	50,000	51,561		
12/15/23	2,660,000	2.875%	-	50,843	152,403.75	
06/15/24	2,660,000	2.875%	55,000	50,843		
12/15/24	2,605,000	2.875%	-	50,052	155,894.38	
06/15/25	2,605,000	2.875%	55,000	50,052		
12/15/25	2,550,000	2.875%	-	49,261	154,313.13	
06/15/26	2,550,000	2.875%	55,000	49,261		
12/15/26	2,495,000	2.875%	-	48,471	152,731.88	
06/15/27	2,495,000	2.875%	55,000	48,471		
12/15/27	2,440,000	3.300%	-	47,680	151,150.63	
06/15/28	2,440,000	3.300%	60,000	47,680		
12/15/28	2,380,000	3.300%	-	46,690	154,370.00	
06/15/29	2,380,000	3.300%	60,000	46,690		
12/15/29	2,320,000	3.300%	-	45,700	152,390.00	
06/15/30	2,320,000	3.300%	65,000	45,700		
12/15/30	2,255,000	3.300%	-	44,628	155,327.50	
06/15/31	2,255,000	3.300%	65,000	44,628		
12/15/31	2,190,000	3.300%	-	43,555	153,182.50	
06/15/32	2,190,000	3.300%	70,000	43,555		
12/15/32	2,120,000	4.000%	-	42,400	155,955.00	
06/15/33	2,120,000	4.000%	70,000	42,400		
12/15/33	2,050,000	4.000%	-	41,000	153,400.00	
06/15/34	2,050,000	4.000%	75,000	41,000		
12/15/34	1,975,000	4.000%	-	39,500	155,500.00	
06/15/35	1,975,000	4.000%	75,000	39,500		
12/15/35	1,900,000	4.000%	-	38,000	152,500.00	
06/15/36	1,900,000	4.000%	80,000	38,000		
12/15/36	1,820,000	4.000%	-	36,400	154,400.00	
06/15/37	1,820,000	4.000%	80,000	36,400		
12/15/37	1,740,000	4.000%	-	34,800	151,200.00	
06/15/38	1,740,000	4.000%	85,000	34,800		
12/15/38	1,655,000	4.000%	-	33,100	152,900.00	
06/15/39	1,655,000	4.000%	90,000	33,100		
12/15/39	1,565,000	4.000%	-	31,300	154,400.00	
06/15/40	1,565,000	4.000%	95,000	31,300		
12/15/40	1,470,000	4.000%	-	29,400	155,700.00	
06/15/41	1,470,000	4.000%	95,000	29,400		
12/15/41	1,375,000	4.000%	-	27,500	151,900.00	
06/15/42	1,375,000	4.000%	100,000	27,500		
12/15/42	1,275,000	4.000%	-	25,500	153,000.00	
06/15/43	1,275,000	4.000%	105,000	25,500		
12/15/43	1,170,000	4.000%	-	23,400	153,900.00	
06/15/44	1,170,000	4.000%	110,000	23,400		
12/15/44	1,060,000	4.000%	-	21,200	154,600.00	
06/15/45	1,060,000	4.000%	115,000	21,200		
12/15/45	945,000	4.000%	-	18,900	155,100.00	
06/15/46	945,000	4.000%	120,000	18,900		
12/15/46	825,000	4.000%	-	16,500	155,400.00	
06/15/47	825,000	4.000%	125,000	16,500		
12/15/47	700,000	4.000%	-	14,000	155,500.00	
06/15/48	700,000	4.000%	130,000	14,000		
12/15/48	570,000	4.000%	-	11,400	155,400.00	
06/15/49	570,000	4.000%	135,000	11,400		
12/15/49	435,000	4.000%	-	8,700	155,100.00	
06/15/50	435,000	4.000%	140,000	8,700		
12/15/50	295,000	4.000%	-	5,900	154,600.00	
06/15/51	295,000	4.000%	145,000	5,900		
12/15/51	150,000	4.000%	-	3,000	153,900.00	
06/15/52	150,000	4.000%	150,000	3,000	153,000.00	

Total	$	2,710,000	$	1,995,341	$	4,705,341	

Siena North	
Community Development District	
Non-Ad Valorem Assessments Comparison	
2025-2026	

Neighborhood	
O&M Units	Bonds 2022 Units	
Annual Maintenance Assessments	
Annual Debt Assessments	
Total Assessed Per Unit	
	
FY 2026	
FY2025	Increase/ (decrease)	
FY 2026	
FY2025	Increase/ (decrease)	
FY 2026	
FY2025	Increase/ (decrease)	

Single Family-100's	
19	
19	
$1,049.64	
$631.58	
$418.06	
$1,684.21	
$1,684.21	
$0.00	
$2,733.85	
$2,315.79	
$418.06	
Single Family-50's	106	106	$1,049.64	$631.58	$418.06	$1,263.16	$1,263.16	$0.00	$2,312.80	$1,894.74	$418.06	
Total	125	125