Siena North
Community Development District

Adopted Budget
FY 2027

Table of Contents

1-2		General Fund

	Narratives

	Debt Service Fund Series 2022

	Amortization Schedule Series 2022

	Assessment Schedule

Siena North
Community Development District

Option 2	

Adopted
Budget	Actuals Thru	Projected Next  Projected Thru
Description	FY 2026	5/31/26	4 Months	9/30/26	Adopted Budget w/ Annexation	
	FY 2027	

REVENUES:

Special Assessments - On Roll	

$	124,644	

$	124,874	

$	540	

$	125,415	

$	201,886	
Carry Forward Surplus	-	8,761	-	8,761	-	
TOTAL REVENUES	$	124,644	$	133,635	$	540	$	134,176	$	201,886	

EXPENDITURES:

Administrative						
Supervisor Fees	$	-	$	400	$	400	$	800	$	4,800	
FICA Taxes	-	31	31	61	367	
Engineering	1,200	532	669	1,200	2,100	
Attorney	7,500	5,880	2,500	8,380	9,000	
Annual Audit	5,600	5,600	-	5,600	5,700	
Trustee Fees	4,041	4,445	-	4,445	4,450	
Assessment Administration	2,200	2,200	-	2,200	2,310	
Arbitrage Rebate	550	-	550	550	550	
Dissemination Agent	2,200	1,467	733	2,200	2,310	
Management Fees	29,425	19,617	9,808	29,425	30,896	
Information Technology	1,177	785	392	1,177	1,236	
Website Maintenance	1,412	941	471	1,412	1,483	
Postage & Delivery	40	47	150	197	150	
Insurance General Liability	6,450	6,163	-	6,163	6,779	
Printing & Binding	75	7	54	61	100	
Legal Advertising	3,000	439	1,000	1,439	1,000	
Other Current Charges	1,399	1,336	377	1,713	1,650	
Office Supplies	-	10	10	20	50	
Dues, Licenses & Subscriptions	175	175	-	175	175	
First Quarter Operating Reserve	-	-	-	-	25,000	
Total Administrative	$	66,444	$	50,072	$	17,145	$	67,218	$	100,106	

Adopted Budget General Fund

Siena North
Community Development District
Adopted Budget General Fund
	Option 2	

Adopted
Budget	Actuals Thru	Projected Next  Projected Thru
Description	FY 2026	5/31/26	4 Months	9/30/26	Adopted Budget w/ Annexation	
	FY 2027	
Operations & Maintenance
Field Operations						
Electric	$	36,000	$	23,986	$	12,172	$	36,158	$	43,080	
Water	3,000	-	-	-	-	
Landscape Maintenance	19,200	12,800	6,400	19,200	19,200	
Landscape (Annexation)	-	-	-	-	20,000	
Mail Kiosk	-	-	-	-	2,500	
Field Management	-	-	-	-	5,000	
Road Repair	-	-	1,800	1,800	1,900	
Stormwater Drainage	-	-	9,800	9,800	10,100	
Total Field Operations	$	58,200	$	36,786	$	30,172	$	66,958	$	101,780	
		
TOTAL EXPENDITURES	$	124,644	$	86,858	$	47,317	$	134,175	$	201,886	
		
EXCESS REVENUES (EXPENDITURES)	$	-	$	46,777	$	(46,777)	$	-	$	-	

Gross Assessments	
Less: Discounts & Collections 5%	
Net Assessments	

$	212,512	
	10,626 	
 $	201,886 	

Option 2 With Annexation:	

Product	Assessable Units	Total Gross Assessment	FY26
Gross Per Unit	FY27	Increase/
Gross	(Decrease)
Per Unit	

Single Family-100's	19	$	23,782.34	$	1,049.64	$	1,251.70	$	202.06	
Single Family-50's	106	$	132,680.43	$	1,049.64	$	1,251.70	$	202.06	
Single Family - Villacis	54	$	56,049.01	$	-	$	1,037.94	$	1,037.94	

Total	179	$	212,511.79	

Siena North	
Community Development District	
Budget Narrative	
Fiscal Year 2027	

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.	

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.	
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, P.A. 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.	
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.	
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, LLC serves as the Assessment Administrator.	
Arbitrage Rebate	
The District has contracted with its independent auditors to annually calculate the arbitrage rebate liability on its bonds.	
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, LLC serves as the Dissemination Agent.	
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.	

Siena North	
Community Development District	
Budget Narrative	
Fiscal Year 2027	

Expenditures - Administrative (continued)	

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.	
Office Supplies	
Miscellaneous office supplies	
Due, Licenses & Subscriptions	
This includes monthly bank charges and any other miscellaneous expenses that incur during the year.	
First Quarter Operating Reserve	
To pay invoices for the 1st quarter of the Fiscal Year.	

Expenditures – Field Operations	

Electric				
The District has 59 streetlights with FPL.	
Landscape Maintenance				
The District has contracted with Tony's Nursery & Garden for the monthly maintenance of common areas.	
Description	Vendor	Monthly amount	Total Amount	
Monthly mowing	Tony's Nursery & Garden	1,600.00	19,200.00	
Mail Kiosk				
Maintenance of mail kiosk for residents.	
Field Management				
The District currently contracts GMS-SF, LLC for the operation of the property and its contractors.	
Road Repair				
Cost for repairs to the roadway pavements.	
Stormwater Drainage				
Cost for servicing the inlets, manholes, pipes, and French drains of the stormwater drainage system.	

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	FY 2026	5/31/26	4 Months	9/30/26	FY 2027	

REVENUES:

Special Assessments-On Roll	$	157,600	$	157,890	$	683	$	158,574	$	157,600	
Interest Earnings	-	3,858	1,000	4,858	1,500	
Carry Forward Surplus (1)	68,367	78,263	-	78,263	88,172	

TOTAL REVENUES	$	225,967	$	240,011	$	1,683	$	241,694	$	247,272	

EXPENDITURES:

Interest 12/15	$	49,261	$	49,261	$	-	$	49,261	$	48,471	
Principal 06/15	55,000	-	55,000	55,000	55,000	
Interest 06/15	49,261	-	49,261	49,261	48,471	

TOTAL EXPENDITURES	$	153,523	$	49,261	$	104,261	$	153,523	$	151,941	

Other Sources/(Uses)

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

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

TOTAL EXPENDITURES	$	153,523	$	49,261	$	104,261	$	153,523	$	151,941	

EXCESS REVENUES (EXPENDITURES)	$	72,444	$	190,750	$	(102,578)	$	88,172	$	95,331	

Interest Due 12/15/27	$47,680	

(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	FY26
Gross Per Unit	FY27
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	

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	

Option 2

Siena North
Community Development District
Non-Ad Valorem Assessments Comparison 2026-2027

Neighborhood	
O&M Units	Bonds 2022 Units	
Annual Maintenance Assessments	
Annual Debt Assessments	
Total Assessed Per Unit	
	
FY 2027	
FY 2026	Increase/ (decrease)	
FY 2027	
FY 2026	Increase/ (decrease)	
FY 2027	
FY 2026	Increase/ (decrease)	

Single Family-100's	
19	
19	
$1,251.70	
$1,049.64	
$202.06	
$1,684.21	
$1,684.21	
$0.00	
$2,935.91	
$2,733.85	
$202.06	
Single Family-50's	106	106	$1,251.70	$1,049.64	$202.06	$1,263.16	$1,263.16	$0.00	$2,514.86	$2,312.80	$202.06	
Single Family - Villacis	54	0	$1,037.94	$0.00	$1,037.94	$0.00	$0.00	$0.00	$1,037.94	$0.00	$1,037.94	
Total	179	125										

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