Adopted Budget
Fiscal Year 2022

Mediterranea Community  Development District

September 29, 2021

Mediterranea
Community Development District

TABLE OF CONTENTS

General Fund Budget Narrative

Page 1
Page 2-3

Debt Service Fund Series 2014-A1 Budget
Amortization Schedule - 2014-A1

Page 4
Page 5

Series 2017
Budget
Amortization Schedule - 2017

Page 6
Page 7

Mediterranea
Community Development District

General Fund

FY 2021
Adopted
 	Budget	

Actual thru
     8/31/2021	

Projected Next
 	1 Months	

Total Projected at
     9/30/2021	

FY 2022
Adopted
 	Budget	

 Description	

Revenues
Maintenance Assessments- Tax Roll Maintenance Assessments- Off Roll Unassigned Fund Balance

$142,076
$0
$38,822

$144,275
$36,707
$58,508

$0
$0
$0

$144,275
$36,707
$58,508

$142,076
$0
$75,426

Total Revenues

 	$180,898 

 	$239,490 

 	$0 

 	$239,490 

 	$217,502 

Expenditures Administrative:
Engineering
Attorney
Attorney - Water/Waste Provisions Arbitrage
Dissemination Trustee  Fees Annual Audit Management Fees Website Compliance Telephone
Postage
Printing & Binding Insurance
Legal   Advertising Other Current Charges Office Supplies
Dues, Licenses & Subscriptions Capital Outlay
First Quarter Operating

$12,000
$15,000
$0
$1,200
$2,500
$8,100
$4,600
$30,900
$1,000
$50
$250
$500
$6,001
$2,250
$1,400
$50
$175
$250
$38,172

$473
$14,848
$4,640
$1,800
$2,292
$8,201
$4,700
$28,325
$917
$0
$124
$112
$6,188
$1,748
$2,103
$10
$175
$0
$0

$11,528
$1,000
$0
$0
$208
$0
$0
$2,575
$83
$50
$126
$138
$0
$1,180
$40
$40
$0
$250
$38,172

$12,000
$15,848
$4,640
$1,800
$2,500
$8,201
$4,700
$30,900
$1,000
$50
$250
$250
$6,188
$2,928
$2,143
$50
$175
$250
$38,172

$12,000
$15,000
$0
$1,200
$2,500
$8,200
$5,000
$30,900
$1,000
$50
$250
$500
$6,300
$3,000
$2,000
$50
$175
$250
$38,200

Administrative Expenditures

Field:

 	$124,398 

 	$76,654 

 	$55,391 

 	$132,044 

 	$126,575 

Lake Maintenance Landscape Maintenance
Irrigation Repairs and Maintenance Contingency

$6,500
$30,000
$10,000
$10,000

$5,940
$0
$0
$0

$1,080
$15,000
$5,000
$5,000

$7,020
$15,000
$5,000
$5,000

$6,500
$30,000
$10,000
$10,000

Field Expenditures

 	$56,500 

 	$5,940 

 	$26,080 

 	$32,020 

 	$56,500 

Total Expenditures

 	$180,898 

 	$82,594 

 	$81,471 

 	$164,064 

 	$183,075 

Assigned Fund Balance

 	$0 

 	$156,897 

 	($81,471)

 	$75,426 

 	$34,427 

FY 2021

FY 2022

Page 1

Net Assessments	$142,076	$142,076
Plus Collection Fees (6%)	$9,069	$9,069
Gross Assessments	$151,145	$151,145
No. of Units	598	598
Per Unit Assessments (Gross)	$252.75	$252.75

Mediterranea

Community Development District

General Fund

 	_ 	_ 	_ 	_ 	
REVENUES:

Maintenance Assessments
The District will levy a Maintenance Assessment on all assessable property within the District.

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.

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 & maintenance contracts, etc.

Arbitrage
The Districts is required to have an annual arbitrage rebate calculate prepared for the Series 2014A1 Special Assessment Bonds and Series 2017 Special Assessment refunding and Improvement Bonds. The District will contract with an independent CPA firm to perform this calculation.

Dissemination Agent
The Annual Disclosure Report required is by the Security and Exchange Commission in order to comply with Rule 15(c) (2)-12(b) (5), which relates to additional reporting requirements for un-rated bond issues.

Trustee Fees
The District issued Series 2014A1, Special Assessment Bonds and Series 2017, Special Assessment Refunding and Improvement Bonds which are held with a Trustee at Wells Fargo Bank. The amount of the trustee fees is based on the agreement between Wells Fargo Bank and the District.

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

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

Website Compliance
Per Chapter 2014-22, Laws of Florida, all Districts must have a website by October 1, 2015 to provide detailed information on the CDD as well as links to useful websites regarding Compliance issues. This website will be maintained by GM-SF, LLC and updated monthly.

Telephone
Telephone and fax machine.

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

Insurance
The District's General Liability & Public Officials Liability Insurance policy is with Egis Insurance & Risk Advisors. Egis Insurance & Risk Advisors specializes in providing insurance coverage to governmental agencies. The amount is based upon similar Community Development Districts.

Printing & 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.

Page 2

Mediterranea

Community Development District

General Fund

 	_ 	_ 	_ 	_ 	
Administrative: (continued)

Other Current Charges
Bank charges and any other miscellaneous expenses that incurred during the year.

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.

Capital Outlay
Represents any minor capital expenditures the District may need to make during the Fiscal Year such as a file cabinet for District files.

Field:

Lake Maintenance
The District has contracted Lake & Wetland Management for monthly lake maintenance.

Landscape Maintenance
The District will contract services for the maintenance of the landscape within the community.

Irrigation Repairs and Maintenance
Irrigation repairs and other maintenance services provided by the landscape company.

Contingency
A contingency for any unanticipated and unscheduled cost to the District.

Page 3

Mediterranea
Community Development District

Debt Service Fund
Series 2014-A1, Special Assessment Bonds

FY 2021
Adopted
 	Budget	

Actual Thru
     8/31/2021	

Projected Next
 	1 Months	

Total Projected
     9/30/2021	

FY 2022
Adopted
 	Budget	

 Description	

Revenues

Interest Income
Special Assessments - On Roll Carry Forward  Surplus (1)

$0
$75,568
$114,275

$56
$76,738
$115,233

$0
$0
$0

$56
$76,738
$115,233

$0
$75,568
$115,995

    TOTAL REVENUES	

 	$189,843 

 	$192,027 

 	$0 

 	$192,027 

 	$191,564 

Expenditures
Series 2014-A1 Interest 11/1 Interest - 5/1 Principal - 5/1

$23,016
$23,016
$30,000

$23,016
$23,016
$30,000

$0
$0
$0

$23,016
$23,016
$30,000

$22,176
$22,176
$32,000

    TOTAL EXPENDITURES	

 	$76,032 

 	$76,032 

 	$0 

 	$76,032 

 	$76,352 

EXCESS REVENUES

$113,811

$115,995

$0

$115,995

$115,212

11/1/2022

$21,280

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

Gross Amount

No. of Units

FY 2022

Page 4

Net Assessments	$75,568
Plus Collection Fees (6%)	$4,824
Gross Assessments	$80,392

18' TH	8	$1,004.00	$8,032
16' TH	90	$804.00	$72,360

Mediterranea
Community Development District

Amortization  Schedule
Series 2014A1, Special Assessment Bonds

DATE

BALANCE

RATE

PRINCIPAL

INTEREST

TOTAL

05/01/14
11/01/14
05/01/15
11/01/15
05/01/16
11/01/16
05/01/17
11/01/17
05/01/18
11/01/18
05/01/19
11/01/19
05/01/20
11/01/20
05/01/21

$970,000.00
$970,000.00
$970,000.00
$949,000.00
$949,000.00
$926,000.00
$926,000.00
$902,000.00
$902,000.00
$877,000.00
$877,000.00
$850,000.00
$850,000.00
$822,000.00
$822,000.00

5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%

$0.00
$0.00
$21,000.00
$0.00
$23,000.00
$0.00
$24,000.00
$0.00
$25,000.00
$0.00
$27,000.00
$0.00
$28,000.00
$0.00
$30,000.00

$0.00
$27,160.00
$27,160.00
$26,572.00
$26,572.00
$25,928.00
$25,928.00
$25,256.00
$25,256.00
$24,556.00
$24,556.00
$23,800.00
$23,800.00
$23,016.00
$23,016.00

$27,160.00

$74,732.00

$75,500.00

$75,184.00

$74,812.00

$75,356.00

$74,816.00

11/01/22
05/01/23
11/01/23
05/01/24
11/01/24
05/01/25
11/01/25
05/01/26
11/01/26
05/01/27
11/01/27
05/01/28
11/01/28
05/01/29
11/01/29
05/01/30
11/01/30
05/01/31
11/01/31
05/01/32
11/01/32
05/01/33
11/01/33
05/01/34
11/01/34
05/01/35
11/01/35
05/01/36
11/01/36
05/01/37

$760,000.00
$760,000.00
$727,000.00
$727,000.00
$692,000.00
$692,000.00
$655,000.00
$655,000.00
$616,000.00
$616,000.00
$574,000.00
$574,000.00
$530,000.00
$530,000.00
$483,000.00
$483,000.00
$434,000.00
$434,000.00
$382,000.00
$382,000.00
$327,000.00
$327,000.00
$269,000.00
$269,000.00
$207,000.00
$207,000.00
$142,000.00
$142,000.00
$73,000.00
$73,000.00

5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%

$0.00
$33,000.00
$0.00
$35,000.00
$0.00
$37,000.00
$0.00
$39,000.00
$0.00
$42,000.00
$0.00
$44,000.00
$0.00
$47,000.00
$0.00
$49,000.00
$0.00
$52,000.00
$0.00
$55,000.00
$0.00
$58,000.00
$0.00
$62,000.00
$0.00
$65,000.00
$0.00
$69,000.00
$0.00
$73,000.00

$21,280.00
$21,280.00
$20,356.00
$20,356.00
$19,376.00
$19,376.00
$18,340.00
$18,340.00
$17,248.00
$17,248.00
$16,072.00
$16,072.00
$14,840.00
$14,840.00
$13,524.00
$13,524.00
$12,152.00
$12,152.00
$10,696.00
$10,696.00
$9,156.00
$9,156.00
$7,532.00
$7,532.00
$5,796.00
$5,796.00
$3,976.00
$3,976.00
$2,044.00
$2,044.00

$75,456.00

$74,636.00

$74,732.00

$74,716.00

$74,588.00

$75,320.00

$74,912.00

$75,364.00

$74,676.00

$74,848.00

$74,852.00

$74,688.00

$75,328.00

$74,772.00

$75,020.00
$75,044.00

 	TOTAL	

 	$970,000.00 

 	$781,704.00 

 	$1,751,704.00 

Page 5

11/01/21	$792,000.00	5.60%	$0.00	$22,176.00	$75,192.00
05/01/22	$792,000.00	5.60%	$32,000.00	$22,176.00

Mediterranea
Community Development District

Debt Service Fund
Series 2017, Special Assessment Refunding and Improvement Bonds

FY 2021
Adopted
 	Budget	

Actual Thru
     8/31/2021	

Projected Next
 	1 Months	

Total Projected
     9/30/2021	

FY 2022
Adopted
 	Budget	

 Description	

Revenues

Interest Income
Special Assessments - On Roll Special Assessments - Off Roll Carry Forward Surplus (1)

$2,500
$592,422
$0
$218,180

$193
$565,498
$115,974
$158,513

$0
$26,924
$0
$0

$193
$592,422
$115,974
$158,513

$500
$556,877
$0
$310,077

    TOTAL REVENUES	

 	$813,102 

 	$840,178 

 	$26,924 

 	$867,102 

 	$867,454 

Expenditures
Series 2017 Interest 11/1 Interest - 5/1 Principal - 5/1

$201,013
$201,013
$155,000

$201,013
$201,013
$155,000

$0
$0
$0

$201,013
$201,013
$155,000

$198,300
$198,300
$160,000

    TOTAL EXPENDITURES	

 	$557,025 

 	$557,025 

 	$0 

 	$557,025 

 	$556,600 

EXCESS REVENUES

$256,077

$283,153

$26,924

$310,077

$310,854

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

11/1/2022
Gross Amount

$195,500

No. of Units

FY 2022

Page 6

Gross Assessments	$592,422
less Collection Fees (6%)	($35,545)
Net Assessments	$556,877
18' TH	112	$1,051.28	$117,743
22' TH	236	$1,130.40	$266,774
Single Family	152	$1,367.79	$207,904

Mediterranea
Community Development District

Amortization  Schedule
Series 2017, Special Assessment Refunding and Improvement Bonds

DATE

BALANCE

RATE

PRINCIPAL

INTEREST

TOTAL

05/01/19
11/01/19
05/01/20
11/01/20
05/01/21

$8,760,000.00
$8,615,000.00
$8,615,000.00
$8,465,000.00
$8,465,000.00

5.60%
5.60%
5.60%
5.60%
5.60%

$145,000.00
$0.00
$150,000.00
$0.00
$155,000.00

$206,175.00
$203,637.50
$203,637.50
$201,012.50
$201,012.50

$554,812.50

$554,650.00

11/01/22
05/01/23
11/01/23
05/01/24
11/01/24
05/01/25
11/01/25
05/01/26
11/01/26
05/01/27
11/01/27
05/01/28
11/01/28
05/01/29
11/01/29
05/01/30
11/01/30
05/01/31
11/01/31
05/01/32
11/01/32
05/01/33
11/01/33
05/01/34
11/01/34
05/01/35
11/01/35
05/01/36
11/01/36
05/01/37
11/01/37
05/01/38
11/01/38
05/01/39
11/01/39
05/01/40
11/01/40
05/01/41
11/01/41
05/01/42
11/01/42
05/01/43
11/01/43
05/01/44
11/01/44
05/01/45
11/01/45
05/01/46
11/01/46
05/01/47
11/01/47
05/01/48

$8,150,000.00
$8,150,000.00
$7,985,000.00
$7,985,000.00
$7,810,000.00
$7,810,000.00
$7,630,000.00
$7,630,000.00
$7,440,000.00
$7,440,000.00
$7,245,000.00
$7,245,000.00
$7,040,000.00
$7,040,000.00
$6,825,000.00
$6,825,000.00
$6,600,000.00
$6,600,000.00
$6,365,000.00
$6,365,000.00
$6,120,000.00
$6,120,000.00
$5,860,000.00
$5,860,000.00
$5,590,000.00
$5,590,000.00
$5,305,000.00
$5,305,000.00
$5,005,000.00
$5,005,000.00
$4,695,000.00
$4,695,000.00
$4,365,000.00
$4,365,000.00
$4,020,000.00
$4,020,000.00
$3,655,000.00
$3,655,000.00
$3,275,000.00
$3,275,000.00
$2,875,000.00
$2,875,000.00
$2,455,000.00
$2,455,000.00
$2,010,000.00
$2,010,000.00
$1,545,000.00
$1,545,000.00
$1,055,000.00
$1,055,000.00
$540,000.00
$540,000.00

5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%
5.60%

$0.00
$165,000.00
$0.00
$175,000.00
$0.00
$180,000.00
$0.00
$190,000.00
$0.00
$195,000.00
$0.00
$205,000.00
$0.00
$215,000.00
$0.00
$225,000.00
$0.00
$235,000.00
$0.00
$245,000.00
$0.00
$260,000.00
$0.00
$270,000.00
$0.00
$285,000.00
$0.00
$300,000.00
$0.00
$310,000.00
$0.00
$330,000.00
$0.00
$345,000.00
$0.00
$365,000.00
$0.00
$380,000.00
$0.00
$400,000.00
$0.00
$420,000.00
$0.00
$445,000.00
$0.00
$465,000.00
$0.00
$490,000.00
$0.00
$515,000.00
$0.00
$540,000.00

$195,500.00
$195,500.00
$192,612.50
$192,612.50
$188,893.75
$188,893.75
$185,068.75
$185,068.75
$181,031.25
$181,031.25
$176,887.50
$176,887.50
$172,531.25
$172,531.25
$167,962.50
$167,962.50
$162,618.75
$162,618.75
$157,037.50
$157,037.50
$151,218.75
$151,218.75
$145,043.75
$145,043.75
$138,631.25
$138,631.25
$131,862.50
$131,862.50
$124,737.50
$124,737.50
$117,375.00
$117,375.00
$109,125.00
$109,125.00
$100,500.00
$100,500.00
$91,375.00
$91,375.00
$81,875.00
$81,875.00
$71,875.00
$71,875.00
$61,375.00
$61,375.00
$50,250.00
$50,250.00
$38,625.00
$38,625.00
$26,375.00
$26,375.00
$13,500.00
$13,500.00

$553,800.00

$553,112.50

$556,506.25

$553,962.50

$556,100.00

$552,918.75

$554,418.75

$555,493.75

$555,581.25

$554,656.25

$553,256.25

$556,262.50

$553,675.00

$555,493.75

$556,600.00

$552,112.50

$556,500.00

$554,625.00

$556,875.00

$553,250.00

$553,750.00

$553,250.00

$556,625.00

$553,875.00

$555,000.00

$554,875.00
$553,500.00

 	TOTAL	

 	$8,760,000.00 

 	$7,879,850.00 

 	$16,639,850.00 

Page 7

11/01/21	$8,310,000.00	5.60%	$0.00	$198,300.00	$554,312.50
05/01/22	$8,310,000.00	5.60%	$160,000.00	$198,300.00