Palm Gate	
Community Development District	

Adopted Budget	
FY 2024 & FY 2025	

Table of Contents

1		General Fund

2-3		Narratives

Palm Gate	
Community Development District	
Adopted Budget	
General Fund	

Adopted Budget	
Description	FY 2024 & FY 2025	

REVENUES:
Developer Contributions/Maintenance Assessments	$138,065

TOTAL REVENUES	$138,065

EXPENDITURES:

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

$	4,000		
2,000	(1)	
2,400	(1)	
2,000	(1)	
15,000		
5,000		
3,500	(1)	
38,000		
175		
200		
6,000		
1,200		
150		
3,200		
-		
175		

TOTAL ADMINISTRATIVE	$83,000

Field
Drainage Clean Up	$	12,000	
Streetlighting	34,500	
Stormwater Management System	4,000	
Repairs & Maintenance	4,565	
TOTAL FIELD	$55,065	

EXCESS REVENUES/(EXPENDITURES)	$-

TOTAL EXPENDITURES	$138,065

(1)	Represents costs associated with the issuance of Bonds.	

Gross Assessment	$145,331.58	
Less: Disc & Coll (5%)	($7,266.58)	
Net Assessment	$138,065.00	
# Units	521	
Per Unit Gross Assessments	$278.95	
Per Unit Net Assessments	$265.00	

Palm Gate	
Community Development District	
Budget Narrative	
Fiscal Year 2024 and 2025	

REVENUES	

Developer Contributions/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	

Engineering	
The District's engineer will provide general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review of invoices, and other specifically requested assignments.	
Arbitrage Rebate	
The District is required to have an annual arbitrage rebate calculation on the District’s Bonds. The District has contracted with an LLS Tax Solutions to perform the calculations.	
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.	
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.	
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. The budgeted amount for the fiscal year is based on the contracted fees outlined in	
Information Technology/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-SF, LLC and updated monthly.	
Postage and Delivery	
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.	
Printing and Binding	
Copies used in the preparation of agenda packages, required mailings, and other special projects.	
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.	
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.	

Palm Gate	
Community Development District	
Budget Narrative	
Fiscal Year 2024 and 2025	

Expenditures – Field	
Due, Licenses & Subscriptions	
The District is required to pay an annual fee to the Department of Economic Opportunity Community Affairs for $175.	
Contingencies	
A contingency for any unanticipated and unscheduled cost to the District.	
Drainage Clean-Up	
The cost to maintain drainage system of the Project.	
Streetlighting	
The cost to streetlighting in common areas.	
Stormwater Management System	
The cost to maintain the stormwater system within the District	
Reparis & Maintenance	
The cost of any necessary repairs or required maintenance within the District