Mediterranea	
Community Development District	

Proposed Budget	
FY 2025	

Table of Contents

1		General Fund	

2-3	
	Narratives	

4	
	Debt Service Fund Series 2014A-1	

5	
	Amortization Schedule	

6	
	Debt Service Fund Series 2017	

7	
	Amortization Schedule	

8	
	Assessment Schedule	

Mediterranea	
Community Development District	
Proposed Budget	
General Fund	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2024	2/29/24	7 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments- On Roll	$142,076	$140,842	$1,234	$142,076	$142,076	
Carry Forward Balance	88,636	85,912	-	85,912	75,946	

TOTAL REVENUES	$230,712	$226,754	$1,234	$227,988	$218,022	

EXPENDITURES:

Administrative:						
Engineering	$ 12,000	$-	$7,000	$7,000	$12,000	
Attorney	15,000	2,795	3,913	6,708	15,000	
Attorney - Water/Waste Provisions	20,000	1,240	11,667	12,907	20,000	
Annual Audit	5,000	-	5,000	5,000	5,000	
Arbitrage Rebate	1,200	600	600	1,200	1,200	
Dissemination Agent	2,500	1,042	1,458	2,500	2,675	
Assessment Roll	-	1,511	-	1,511	1,511	
Trustee Fees	8,200	5,001	3,000	8,001	8,200	
Management Fees	35,010	14,588	20,423	35,010	37,461	
Website Maintenance	1,000	417	583	1,000	1,200	
Telephone	50	-	35	35	50	
Postage & Delivery	250	11	146	157	250	
Insurance General Liability	7,575	7,161	-	7,161	7,800	
Printing & Binding	500	78	200	278	500	
Legal Advertising	3,000	-	1,750	1,750	3,000	
Other Current Charges	2,000	1,540	460	2,000	2,000	
Office Supplies	50	-	35	35	50	
Dues, Licenses & Subscriptions	175	175	-	175	175	
Capital Outlay	250	-	146	146	250	
First Quarter Operating	38,200	-	20,905	20,905	38,200	

TOTAL ADMINISTRATIVE	$151,960	$36,158	$77,321	$113,478	$156,522	
Operations & Maintenance						

Field Expenditures						
Lake Maintenance	$6,500	$2,700	3,780	$6,480	$6,500	
Landscape Maintenance	30,000	-	17,500	17,500	30,000	
Irrigation Repairs and Maintenance	10,000	-	5,833	5,833	10,000	
Contingency	15,000	-	8,750	8,750	15,000	

TOTAL FIELD EXPENDITURES	$61,500	$2,700	$35,863	$38,563	$61,500	

TOTAL EXPENDITURES	$213,460	$38,858	$113,184	$152,042	$218,022	

EXCESS REVENUES (EXPENDITURES)	$17,252	$187,896	$(111,950)	$75,946	$0	

Mediterranea	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

REVENUES

Maintenance Assessments
The District will levy a Non-Ad Valorem assessment on all sold and platted parcels within the District in order to pay for the operating expenditures during the Fiscal Year.

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.
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.
Attorney - Water/Waste Provisions
The District’s Attorney, will be providing water and waste provision legal services to the District.
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.
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.
Assessment Roll Administration
GMS SF, LLC provides assessment services for closing lot sales, assessment roll services with the local Tax Collector and financial advisory services.
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 Exhibit "A" of the Management Agreement.
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.
Communication - Telephone
New internet and Wi-Fi service for Office.

Mediterranea	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

Expenditures - Administrative (continued)

Postage and Delivery
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.
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
Copies used in the preparation of agenda packages, required mailings, and other special projects.
Rentals and Leases
The District will be charged $200 per month for office rent from Governmental Management Services – South Florida, LLC for the District's administrative office located in Ft. Lauderdale.
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.
Office Supplies
Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects.
Due, Licenses & Subscriptions
The District is required to pay an annual fee to the Department of Economic Opportunity Community Affairs for $175.
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.

Expenditures – 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.

Mediterranea	
Community Development District	
Proposed Budget	
Debt Service Series 2014-A1 Special Assessment Bonds	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description

REVENUES:	FY2024	2/29/24	7 Months	9/30/24	FY 2025	
Special Assessments-On Roll	$75,568	$74,912	$656	$75,568	$75,568	
Interest Earnings	1,000	3,087	4,322	7,409	5,000	
Carry Forward Surplus (1)	118,948	125,111	-	125,111	132,377	

TOTAL REVENUES	$195,517	$203,111	$4,978	$208,089	$212,946	

EXPENDITURES:

Interest - 11/1	$20,356	$20,356	$-	$20,356	$19,376	
Interest - 5/1	20,356	-	20,356	20,356	19,376	
Principal - 5/1	35,000	-	35,000	35,000	37,000	

TOTAL EXPENDITURES	$75,712	$20,356	$55,356	$75,712	$75,752	

EXCESS REVENUES (EXPENDITURES)	$119,805	$182,755	$(50,378)	$132,377	$137,194	

(1) Carry Forward is Net of Reserve Requirement	Debt Service Due 11/1/2025

$18,340

Mediterranea	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2014-A1	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

11/01/24	692,000	5.600%	-	19,376	74,732	
05/01/25	692,000	5.600%	37,000	19,376		
11/01/25	655,000	5.600%	-	18,340	74,716	
05/01/26	655,000	5.600%	39,000	18,340		
11/01/26	616,000	5.600%	-	17,248	74,588	
05/01/27	616,000	5.600%	42,000	17,248		
11/01/27	574,000	5.600%	-	16,072	75,320	
05/01/28	574,000	5.600%	44,000	16,072		
11/01/28	530,000	5.600%	-	14,840	74,912	
05/01/29	530,000	5.600%	47,000	14,840		
11/01/29	483,000	5.600%	-	13,524	75,364	
05/01/30	483,000	5.600%	49,000	13,524		
11/01/30	434,000	5.600%	-	12,152	74,676	
05/01/31	434,000	5.600%	52,000	12,152		
11/01/31	382,000	5.600%	-	10,696	74,848	
05/01/32	382,000	5.600%	55,000	10,696		
11/01/32	327,000	5.600%	-	9,156	74,852	
05/01/33	327,000	5.600%	58,000	9,156		
11/01/33	269,000	5.600%	-	7,532	74,688	
05/01/34	269,000	5.600%	62,000	7,532		
11/01/34	207,000	5.600%	-	5,796	75,328	
05/01/35	207,000	5.600%	65,000	5,796		
11/01/35	142,000	5.600%	-	3,976	74,772	
05/01/36	142,000	5.600%	69,000	3,976		
11/01/36	73,000	5.600%	-	2,044	75,020	
05/01/37	73,000	5.600%	73,000	2,044	75,044	

TOTAL	$692,000	$301,504	$1,048,860	

Mediterranea	
Community Development District	
Proposed Budget	
Debt Service Series 2017 Special Assessment Refunding & Improvement Bonds	

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description

REVENUES:	FY2024	2/29/24	7 Months	9/30/24	FY 2025	
Special Assessments-On Roll	$556,877	$552,041	$4,836	$556,877	$556,877	
Interest Earnings	5,000	17,745	24,843	42,589	20,000	
Carry Forward Surplus (1)	326,882	312,889	-	312,889	352,130	

TOTAL REVENUES	$888,758	$882,675	$29,679	$912,355	$929,006	

EXPENDITURES:

Interest - 11/1	$192,613	$192,613	$-	$192,613	$188,894	
Interest - 5/1	192,613	-	192,613	192,613	188,894	
Principal - 5/1	175,000	-	175,000	175,000	180,000	

TOTAL EXPENDITURES	$560,225	$192,613	$367,613	$560,225	$557,788	

EXCESS REVENUES (EXPENDITURES)	$328,533	$690,063	$(337,933)	$352,130	$371,219	

(1) Carry Forward is Net of Reserve Requirement	Debt Service Due 11/1/2025

$185,069

Mediterranea	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2017	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

11/01/24	7,810,000	4.250%	-	188,894	556,506	
05/01/25	7,810,000	4.250%	180,000	188,894		
11/01/25	7,630,000	4.250%	-	185,069	553,963	
05/01/26	7,630,000	4.250%	190,000	185,069		
11/01/26	7,440,000	4.250%	-	181,031	556,100	
05/01/27	7,440,000	4.250%	195,000	181,031		
11/01/27	7,245,000	4.250%	-	176,888	552,919	
05/01/28	7,245,000	4.250%	205,000	176,888		
11/01/28	7,040,000	4.250%	-	172,531	554,419	
05/01/29	7,040,000	4.250%	215,000	172,531		
11/01/29	6,825,000	4.250%	-	167,963	555,494	
05/01/30	6,825,000	4.750%	225,000	167,963		
11/01/30	6,600,000	4.750%	-	162,619	555,581	
05/01/31	6,600,000	4.750%	235,000	162,619		
11/01/31	6,365,000	4.750%	-	157,038	554,656	
05/01/32	6,365,000	4.750%	245,000	157,038		
11/01/32	6,120,000	4.750%	-	151,219	553,256	
05/01/33	6,120,000	4.750%	260,000	151,219		
11/01/33	5,860,000	4.750%	-	145,044	556,263	
05/01/34	5,860,000	4.750%	270,000	145,044		
11/01/34	5,590,000	4.750%	-	138,631	553,675	
05/01/35	5,590,000	4.750%	285,000	138,631		
11/01/35	5,305,000	4.750%	-	131,863	555,494	
05/01/36	5,305,000	4.750%	300,000	131,863		
11/01/36	5,005,000	4.750%	-	124,738	556,600	
05/01/37	5,005,000	4.750%	310,000	124,738		
11/01/37	4,695,000	4.750%		117,375	552,113	
05/01/38	4,695,000	5.000%	330,000	117,375		
11/01/38	4,365,000	5.000%		109,125	556,500	
05/01/39	4,365,000	5.000%	345,000	109,125		
11/01/39	4,020,000	5.000%		100,500	554,625	
05/01/40	4,020,000	5.000%	365,000	100,500		
11/01/40	3,655,000	5.000%		91,375	556,875	
05/01/41	3,655,000	5.000%	380,000	91,375		
11/01/41	3,275,000	5.000%		81,875	553,250	
05/01/42	3,275,000	5.000%	400,000	81,875		
11/01/42	2,875,000	5.000%		71,875	553,750	
05/01/43	2,875,000	5.000%	420,000	71,875		
11/01/43	2,455,000	5.000%		61,375	553,250	
05/01/44	2,455,000	5.000%	445,000	61,375		
11/01/44	2,010,000	5.000%		50,250	556,625	
05/01/45	2,010,000	5.000%	465,000	50,250		
11/01/45	1,545,000	5.000%		38,625	553,875	
05/01/46	1,545,000	5.000%	490,000	38,625		
11/01/46	1,055,000	5.000%		26,375	555,000	
05/01/47	1,055,000	5.000%	515,000	26,375		
11/01/47	540,000	5.000%		13,500	554,875	
05/01/48	540,000	5.000%	540,000	13,500	553,500	

TOTAL	$7,810,000	$5,691,550	$13,869,163	

Mediterranea	
Community Development District	
Non-Ad Valorem Assessments Comparison	
2025-2024	

Neighborhood	O&M Units	Units 2014A	Bonds
Units 2017	
Annual Maintenance Assessments	
Annual Debt Assessments	
Total Assessed Per Unit	
	FY 2025	FY 2024	Variance	FY 2025	FY 2024	Variance	FY 2025	FY 2024	Variance	FY 2025	FY 2024	Variance	
				O&M	Series 2014-A1	Series 2017		
Single Family	152	0	152	$252.75	$	252.75	$	-	$	-	$	-	$	-	$	1,367.79	$	1,367.79	$	-	$	1,620.54	$	1,620.54	$	-	
18' Townhomes	120	8	112	$	252.75	$	252.75	$	-	$	1,004.00	$	1,004.00	$	-	$	1,051.28	$	1,051.28	$	-	$	2,308.03	$	1,304.03	$	-	
16' Townhomes	90	90	0	$	252.75	$	252.75	$	-	$	804.00	$	804.00	$	-	$	-	$	-	$	-	$	1,056.75	$	252.75	$	-	
22' Townhomes	236	0	236	$	252.75	$	252.75	$	-	$	-	$	-	$	-	$	1,130.40	$	1,130.40	$	-	$	1,383.15	$	1,383.15	$	-	
Total	598	98	500													

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