Live Oak Lake
Community Development District

FY2026
Adopted Budget
July 17, 2025

6iv1S

	Table of Contents	

1		General Fund	

2-5	
	General Fund Narrative	

6	
	Debt Service Fund Series 2016	

7	
	Amortization Schedule - Debt Service Fund Series 2016	

8	
	Debt Service Fund Series 2020	

9	
	Amortization Schedule - Debt Service Fund Series 2020	

Live Oak Lake
Community Development District
Adopted Budget General Fund
	Adopted
Budget	Actual
Thru	Projected
Next	Total
Projected	Adopted
Budget	
 Description			FY 2025 	  6/30/25		3 Months	9/30/25	FY 2026	
Revenues						
Assessments - Tax Collector (Net)	$357,293	$358,547	$0	$358,547	$686,439	
Assessments - Off Roll (Platted)	$95,439	$95,439	$0	$95,439	$0	
Assessments - Off Roll (Unplatted)	$31,800	$31,800	$0	$31,800	$0	
Interest Income	$0	$521	$261	$782	$0	
Direct Assessment - Pulte	$0	$0	$0	$0	$76,824	
Direct Assessment - NLV	$0	$0	$0	$0	$202,223	
Developer Deficit Funding	$226,920	$0	$226,920	$226,920	$0	
Carryforward Surplus	$106,135	$106,135	$0	$106,135	$0	
TOTAL REVENUES	$817,587	$592,443	$227,181	$819,624	$965,487	
Expenditures						
Administrative						
Supervisor Fees	$12,000	$4,200	$3,000	$7,200	$12,000	
FICA Expense	$918	$321	$230	$551	$918	
Engineering	$15,000	$3,335	$2,382	$5,717	$15,000	
Dissemination	$5,250	$4,038	$1,313	$5,350	$5,408	
Assessment Roll	$5,250	$5,250	$0	$5,250	$5,408	
Property Appraiser	$600	$133	$0	$133	$600	
Arbitrage	$1,150	$0	$1,100	$1,100	$1,150	
Attorney	$30,000	$15,078	$7,539	$22,617	$25,000	
Annual Audit	$5,100	$5,200	$0	$5,200	$5,300	
Trustee Fees	$8,100	$8,081	$0	$8,081	$8,869	
Management Fees	$42,500	$31,875	$10,625	$42,500	$43,775	
Information Technology	$1,890	$1,418	$473	$1,890	$1,947	
Postage	$1,450	$1,818	$606	$2,424	$1,450	
Copies	$250	$557	$186	$743	$250	
Rentals and Leases	$0	$49	$0	$49	$3,600	
Insurance	$6,684	$6,501	$0	$6,501	$7,814	
Legal Advertising	$2,500	$484	$1,719	$2,203	$2,500	
Other Current Charges	$350	$0	$0	$0	$350	
Office Supplies	$100	$214	$71	$286	$100	
Dues, Licenses & Subscriptions	$175	$175	$0	$175	$175	
Website Hosting/Compliance	$1,260	$945	$315	$1,260	$1,260	
TOTAL ADMINISTRATIVE	$140,527	$89,672	$29,558	$119,230	$142,872	
Field						
Field Management	$16,538	$12,404	$4,135	$16,538	$17,365	
Property Insurance	$5,000	$4,050	$0	$4,050	$4,374	
Aquatic Control	$51,200	$38,656	$14,600	$53,256	$55,000	
Mitigation Maintenance	$2,000	$1,440	$0	$1,440	$0	
Midge Management	$20,000	$12,537	$4,946	$17,483	$105,000	
Contingency	$9,384	$0	$0	$0	$29,384	
Landscape Maintenance	$286,000	$202,493	$65,100	$267,593	$282,000	
Landscaping Replacements	$50,000	$7,773	$42,227	$50,000	$50,000	
Pond Aerator and Fountain Maintenance	$15,000	$3,385	$11,615	$15,000	$15,000	
Irrigation Consultant Services	$6,000	$4,500	$1,500	$6,000	$6,000	
Irrigation Repairs	$15,000	$12,881	$4,294	$17,174	$15,000	
General Repairs and Maintenance	$15,000	$500	$167	$667	$15,000	
Electricity-Street Lights	$43,694	$34,694	$11,579	$46,273	$50,892	
Electricity-Aerators and Fountains	$57,600	$508	$169	$678	$57,600	
Water-Irrigation	$67,144	$85,002	$47,006	$132,008	$100,000	
Capital Reserve	$17,500	$8,250	$9,250	$17,500	$20,000	
TOTAL FIELD	$677,060	$429,074	$216,586	$645,659	$822,614	
						
TOTAL EXPENDITURES	$817,587	$518,746	$246,144	$764,889	$965,487	
						
EXCESS REVENUES (EXPENDITURES)	$0	$73,697	($18,963)	$54,735	$0	
Net Assessment	$965,487	
Discounts & Collections 6%		$61,627 	
Gross Assessment		$1,027,114 	

Unit Type (1)	Unit Count (2)	
EAU	
(1)	FY 2022
Gross Per Unit	FY 2023
Gross Per Unit	FY 2024
Gross Per Unit	FY 2025
Gross Per Unit	FY 2026
Gross Per Unit	Increase/
(Decrease)	Gross
Total	
Duplex 35'	504	0.7	238	$237.67	$249.55	$249.55	$378.37	$128.82	$190,698.74	
50' SF	1,322	1.0	340	$339.52	$356.50	$356.50	$540.53	$184.03	$714,579.73	
70' SF 	161		1.4	475	$475.33	$499.10	$499.10	$756.74	$257.64	  $121,835.30		
1,987								$1,027,113.77	
1Unplatted lands: O&M Assessments are initially allocated to anticipated units on the EAU basis shown above and then, if applicable, between undeveloped tracts with the same landowner on an equal assessment per acre basis. Note, for FY 2026, the District intends to assess anticipated units on undeveloped property at the same EAU/ERU level as platted units. This constitutes a change in allocation from FY 2023 - FY 2025, during which undeveloped lands were assessed only for the administrative costs in the budget resulting in an EAU of 0.19

2 Includes both platted and anticipated units. Of the total, 532 are anticipated units (489 SF-50; 43 SF-70')

Page 1

REVENUES:

LIVE OAK LAKE
COMMUNITY DEVELOPMENT DISTRICT
GENERAL FUND BUDGET FISCAL YEAR 2026

Assessments-Tax Collector
The District will levy a non-ad valorem special assessment on all taxable property within the District to fund general operating and maintenance expenditures for the fiscal year. These assessments are billed on tax bills.

Assessments –Off Roll
The District will levy a non-ad valorem special assessment on all taxable property within the District to fund general operating and maintenance expenditures for the fiscal year. The District levies these assessments directly to the property owners.

Developer Funding
The District will enter into an agreement with the Developer to fund General Fund expenditures and up to a certain deficit for the Fiscal Year.
Interest Income
The District earns interest on the monthly average collected balance for their money market accounts.

EXPENDITURES:
Administrative:

Supervisor Fees
The Florida Statutes allows each board member to receive $200 per meeting not to exceed $4,800 in one year. The amount for the fiscal year is based upon all 5 supervisors attending the estimated 12 meetings.

FICA Taxes
Related payroll taxes of 7.65% for above.

Engineering Fees
The District's engineer will be providing general engineering services to the District including attendance and preparation for board meetings, 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.

Assessment Roll
The District has contracted with Governmental Management Services to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Property Appraiser
The District anticipates costs associated with services provided by the property appraiser’s office.

Arbitrage

LIVE OAK LAKE
COMMUNITY DEVELOPMENT DISTRICT
GENERAL FUND BUDGET FISCAL YEAR 2026

The District is required to annually have an arbitrage rebate calculation on the District's Series 2016 Capital Improvement Revenue Bonds and the Series 2020 Special Assessment Revenue Bonds.

Attorney
The District's legal counsel will be providing general legal services to the District, i.e., attendance and preparation for monthly meetings, review operating and 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 issued Series 2016 Capital Improvement Revenue Bonds and Series 2020 Special Assessment Revenue 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.

Management Fees
The District has contracted with Governmental Management Services to provide Management, Accounting and Recording Secretary Services for the District. The services include, but are not limited to recording and transcription of board meetings, budget preparation, financial reporting, annual audit, etc.

Information Technology
Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, security, accounting software, etc..
Postage
Mailings, overnight deliveries, and correspondence, etc.

Copies
Printing of computerized checks, stationary, envelopes, invoices, etc.

Insurance
The District's General Liability & Public Officials Liability Insurance policy is with The Florida Insurance Alliance. They specialize in providing insurance coverage to governmental agencies.

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 are incurred during the year.

Office Supplies
Miscellaneous office supplies.

LIVE OAK LAKE
COMMUNITY DEVELOPMENT DISTRICT
GENERAL FUND BUDGET FISCAL YEAR 2026

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.

Website Hosting/Compliance
Represents the cost associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessment, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc.

Field

Field Management
Governmental Management Services provides onsite field management of contracts such as landscape and lake maintenance, fountain maintenance, etc. Services include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings, receive and respond to property owner email and phone calls.

Property Insurance
The District will bind a Property Insurance policy with Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Aquatic Control
Represents the cost for maintenance to the 23 stormwater ponds located within the District. Services include, but are not limited to, treatment of nuisance vegetation and algae treatment.

Mitigation, Monitoring, and Maintenance
Post permit and mitigation compliance, bi-annual maintenance events, time-zeroing monitoring and reporting and annual monitoring and reporting as defined in District Engineer’s work authorizations.

Midge Management
Includes funding for deep water spray treatment, shoreline barrier and fogging to reduce midge population on an as needed basis.

Contingency-Field
Any unanticipated expenditure that may arise during the fiscal year.

Landscape Maintenance
The District contracts for landscape maintenance of certain common areas such as mowing, edging, blowing, fertilization, trimming and mowing around stormwater ponds.

Landscape Replacement
Replacement of plants needed throughout the District.

Pond Aerator and Fountain Maintenance
Repairs and maintenance to the District’s eight fountains.

Irrigation Consultant Services
The district has contracted with Irrigation Management Consulting to maintain the irrigation systems.

Irrigation Repairs

LIVE OAK LAKE
COMMUNITY DEVELOPMENT DISTRICT
GENERAL FUND BUDGET FISCAL YEAR 2026

Represents funds needed for repairs to the irrigation system of the district.

Electricity-Streetlights
The cost of electricity for Live Oak Lake CDD.

Water-Irrigation
The cost of water, sewer, and irrigation services for Live Oak Lake CDD.

Live Oak Lake
Community Development District
Adopted Budget
Debt Service Fund - Series 2016

 Description	 		Adopted Budget
FY 2025	

 		Actual Thru
6/30/25	

 	Projected Next
3 Months	

 		Total Projected
9/30/25	Adopted Budget
	FY 2026		
Revenues									
Interest Income	$5,000		$40,254		$13,418		$53,673	$5,000	
Assessments - On Roll (Net)	$954,030		$956,408		$0		$956,408	$954,030	
Assessments - Prepayments	$0		$0		$0		$0	$0	
Carryforward Surplus (1)	$509,632		$1,015,691		$0		$1,015,691	$576,849	
TOTAL REVENUES	$1,468,662		$2,012,353		$13,418		$2,025,771	$1,535,879	

Expenditures									
Series 2016									
Interest - 11/01	$308,991		$308,991		$0		$308,991	$300,994	
Interest - 05/01	$308,991		$308,644		$0		$308,644	$300,994	
Principal - 05/01	$340,000		$340,000		$0		$340,000	$355,000	
Special Call - 11/01	$0		$15,000		$0		$15,000	$0	
TOTAL EXPENDITURES	$957,981		$972,634		$0		$972,634	$956,988	
Other Financing Sources and (Uses)									
Interfund Transfer	$0		($476,288)		$0		($476,288)	$0	

TOTAL OTHER FINANCING SOURCES AND USES	$0		($476,288)		$0		($476,288)	$0	
									
EXCESS REVENUES	$510,681		$563,431		$13,418		$576,849	$578,891	
							
11/26 Interest	
$293,006	

Unit
Type	No. of
Units	Gross Assessment
Per Unit Amount	
Total	
Duplex 35'	350	$975.00	$341,250.00	
50' SF	506	$1,025.00	$518,650.00	
70' SF		117		$1,325.00	  $155,025.00		
	973		$1,014,925.00	
		Less Discount/Collection Fees	  ($60,895.50) 	
		Net Assessment	$954,029.50	

(1) Carry forward surplus is net of the reserve requirement.

Live Oak Lake						Amortization Schedule	
Community Development District				Series 2016, Capital Improvement Revenue Bonds	
DATE		BALANCE		PRINCIPAL		INTEREST		TOTAL	

05/01/25	
$	
13,490,000	
$	
340,000.00	
$	
308,643.75	
$	
-	
11/01/25	$	13,150,000	$	-	$	300,993.75	$	949,637.50	
05/01/26	$	13,150,000	$	355,000.00	$	300,993.75	$	-	
11/01/26	$	12,795,000	$	-	$	293,006.25	$	949,000.00	
05/01/27	$	12,795,000	$	375,000.00	$	293,006.25	$	-	
11/01/27	$	12,420,000	$	-	$	284,568.75	$	952,575.00	
05/01/28	$	12,420,000	$	390,000.00	$	284,568.75	$	-	
11/01/28	$	12,030,000	$	-	$	275,793.75	$	950,362.50	
05/01/29	$	12,030,000	$	410,000.00	$	275,793.75	$	-	
11/01/29	$	11,620,000	$	-	$	266,568.75	$	952,362.50	
05/01/30	$	11,620,000	$	425,000.00	$	266,568.75	$	-	
11/01/30	$	11,195,000	$	-	$	257,006.25	$	948,575.00	
05/01/31	$	11,195,000	$	445,000.00	$	257,006.25	$	-	
11/01/31	$	10,750,000	$	-	$	246,993.75	$	949,000.00	
05/01/32	$	10,750,000	$	465,000.00	$	246,993.75	$	-	
11/01/32	$	10,285,000	$	-	$	236,531.25	$	948,525.00	
05/01/33	$	10,285,000	$	490,000.00	$	236,531.25	$	-	
11/01/33	$	9,795,000	$	-	$	225,506.25	$	952,037.50	
05/01/34	$	9,795,000	$	510,000.00	$	225,506.25	$	-	
11/01/34	$	9,285,000	$	-	$	214,031.25	$	949,537.50	
05/01/35	$	9,285,000	$	535,000.00	$	214,031.25	$	-	
11/01/35	$	8,750,000	$	-	$	201,993.75	$	951,025.00	
05/01/36	$	8,750,000	$	560,000.00	$	201,993.75	$	-	
11/01/36	$	8,190,000	$	-	$	189,393.75	$	951,387.50	
05/01/37	$	8,190,000	$	585,000.00	$	189,393.75	$	-	
11/01/37	$	7,605,000	$	-	$	175,865.63	$	950,259.38	
05/01/38	$	7,605,000	$	615,000.00	$	175,865.63	$	-	
11/01/38	$	6,990,000	$	-	$	161,643.75	$	952,509.38	
05/01/39	$	6,990,000	$	640,000.00	$	161,643.75	$	-	
11/01/39	$	6,350,000	$	-	$	146,843.75	$	948,487.50	
05/01/40	$	6,350,000	$	670,000.00	$	146,843.75	$	-	
11/01/40	$	5,680,000	$	-	$	131,350.00	$	948,193.75	
05/01/41	$	5,680,000	$	705,000.00	$	131,350.00	$	-	
11/01/41	$	4,975,000	$	-	$	115,046.88	$	951,396.88	
05/01/42	$	4,975,000	$	735,000.00	$	115,046.88	$	-	
11/01/42	$	4,240,000	$	-	$	98,050.00	$	948,096.88	
05/01/43	$	4,240,000	$	770,000.00	$	98,050.00	$	-	
11/01/43	$	3,470,000	$	-	$	80,243.75	$	948,293.75	
05/01/44	$	3,470,000	$	810,000.00	$	80,243.75	$	-	
11/01/44	$	2,660,000	$	-	$	61,512.50	$	951,756.25	
05/01/45	$	2,660,000	$	845,000.00	$	61,512.50	$	-	
11/01/45	$	1,815,000	$	-	$	41,971.88	$	948,484.38	
05/01/46	$	1,815,000	$	885,000.00	$	41,971.88	$	-	
11/01/46	$	930,000	$	-	$	21,506.25	$	948,478.13	
05/01/47	$	930,000	$	930,000.00	$	21,506.25	$	951,506.25	
Total			$	13,490,000.00	$	8,361,487.50	$	21,851,487.50	

Live Oak Lake
Community Development District
Adopted Budget
Debt Service Fund - Series 2020

	Adopted
Budget	Actual
Thru		Projected
Next	Total
Projected	Adopted
Budget	
 Description		 		FY 2025			6/30/25	  	3 Months			9/30/25		FY 2026		

Revenues								
Interest Income		$5,000	$35,304		$11,768	$47,072	$5,000	
Assessments - On Roll (Net)		$143,562	$144,065		$0	$144,065	$143,562	
Assessments - Direct		$846,376	$567,072		$279,304	$846,376	$846,376	
Carryforward Surplus (1)		$452,102	$457,424		$0	$457,424	$505,154	
TOTAL REVENUES		$1,447,039	$1,203,865		$291,072	$1,494,937	$1,500,091	

Expenditures								
Series 2020								
Interest - 11/01		$339,894	$339,894		$0	$339,894	$335,050	
Interest - 05/01		$339,894	$339,894		$0	$339,894	$335,050	
Principal - 05/01		$310,000	$310,000		$0	$310,000	$325,000	
TOTAL EXPENDITURES		$989,788	$989,788		$0	$989,788	$995,100	
								
EXCESS REVENUES		$457,252	$214,080		$291,074	$505,154	$504,991	
						
11/26 Interest	
$328,875	
Unit	No. of	Gross Assessment						
Type	Units	Per Unit Amount	Total					
Duplex 35 FT Lot	238	$975.00	$232,050.00		
Single Family - 50'	739	$1,025.00	$757,475.00		
Single Family - 70'	48	$1,325.00		$63,600.00 		
	1025	$1,053,125.00		
	Less Discount/Collection Fees		($63,187.50)		
	Net Assessment	$989,937.50		

(1) Carry forward surplus is net of the reserve requirement.

Live Oak Lake						Amortization Schedule	
Community Development District				Series 2020, Special Assessment Revenue Bonds	
DATE		BALANCE		PRINCIPAL		INTEREST		TOTAL	

05/01/25	
$	
15,390,000	
$	
310,000.00	
$	
339,893.75	
$	
-	
11/01/25	$	15,080,000	$	-	$	335,050.00	$	984,943.75	
05/01/26	$	15,080,000	$	325,000.00	$	335,050.00	$	-	
11/01/26	$	14,755,000	$	-	$	328,875.00	$	988,925.00	
05/01/27	$	14,755,000	$	335,000.00	$	328,875.00	$	-	
11/01/27	$	14,420,000	$	-	$	322,510.00	$	986,385.00	
05/01/28	$	14,420,000	$	350,000.00	$	322,510.00	$	-	
11/01/28	$	14,070,000	$	-	$	315,860.00	$	988,370.00	
05/01/29	$	14,070,000	$	360,000.00	$	315,860.00	$	-	
11/01/29	$	13,710,000	$	-	$	309,020.00	$	984,880.00	
05/01/30	$	13,710,000	$	375,000.00	$	309,020.00	$	-	
11/01/30	$	13,335,000	$	-	$	301,895.00	$	985,915.00	
05/01/31	$	13,335,000	$	390,000.00	$	301,895.00	$	-	
11/01/31	$	12,945,000	$	-	$	293,315.00	$	985,210.00	
05/01/32	$	12,945,000	$	410,000.00	$	293,315.00	$	-	
11/01/32	$	12,535,000	$	-	$	284,295.00	$	987,610.00	
05/01/33	$	12,535,000	$	430,000.00	$	284,295.00	$	-	
11/01/33	$	12,105,000	$	-	$	274,835.00	$	989,130.00	
05/01/34	$	12,105,000	$	445,000.00	$	274,835.00	$	-	
11/01/34	$	11,660,000	$	-	$	265,045.00	$	984,880.00	
05/01/35	$	11,660,000	$	465,000.00	$	265,045.00	$	-	
11/01/35	$	11,195,000	$	-	$	254,815.00	$	984,860.00	
05/01/36	$	11,195,000	$	490,000.00	$	254,815.00	$	-	
11/01/36	$	10,705,000	$	-	$	244,035.00	$	988,850.00	
05/01/37	$	10,705,000	$	510,000.00	$	244,035.00	$	-	
11/01/37	$	10,195,000	$	-	$	232,815.00	$	986,850.00	
05/01/38	$	10,195,000	$	535,000.00	$	232,815.00	$	-	
11/01/38	$	9,660,000	$	-	$	221,045.00	$	988,860.00	
05/01/39	$	9,660,000	$	555,000.00	$	221,045.00	$	-	
11/01/39	$	9,105,000	$	-	$	208,835.00	$	984,880.00	
05/01/40	$	9,105,000	$	580,000.00	$	208,835.00	$	-	
11/01/40	$	8,525,000	$	-	$	196,075.00	$	984,910.00	
05/01/41	$	8,525,000	$	610,000.00	$	196,075.00	$	-	
11/01/41	$	7,915,000	$	-	$	182,045.00	$	988,120.00	
05/01/42	$	7,915,000	$	640,000.00	$	182,045.00	$	-	
11/01/42	$	7,275,000	$	-	$	167,325.00	$	989,370.00	
05/01/43	$	7,275,000	$	670,000.00	$	167,325.00	$	-	
11/01/43	$	6,605,000	$	-	$	151,915.00	$	989,240.00	
05/01/44	$	6,605,000	$	700,000.00	$	151,915.00	$	-	
11/01/44	$	5,905,000	$	-	$	135,815.00	$	987,730.00	
05/01/45	$	5,905,000	$	730,000.00	$	135,815.00	$	-	
11/01/45	$	5,175,000	$	-	$	119,025.00	$	984,840.00	
05/01/46	$	5,175,000	$	765,000.00	$	119,025.00	$	-	
11/01/46	$	4,410,000	$	-	$	101,430.00	$	985,455.00	
05/01/47	$	4,410,000	$	805,000.00	$	101,430.00	$	-	
11/01/47	$	3,605,000	$	-	$	82,915.00	$	989,345.00	
05/01/48	$	3,605,000	$	840,000.00	$	82,915.00	$	-	
11/01/48	$	2,765,000	$	-	$	63,595.00	$	986,510.00	
05/01/49	$	2,765,000	$	880,000.00	$	63,595.00	$	-	
11/01/49	$	1,885,000	$	-	$	43,355.00	$	986,950.00	
05/01/50	$	1,885,000	$	920,000.00	$	43,355.00	$	-	
11/01/50	$	965,000	$	-	$	22,195.00	$	985,550.00	
05/01/51	$	965,000	$	965,000.00	$	22,195.00	$	987,195.00	
Total			$	15,390,000.00	$	11,255,763.75	$	26,645,763.75