Portofino Vista	
Community Development District	

Approved Proposed Budget	
FY 2027	

Table of Contents

1

2-3

4

5

	General Fund

	Narratives

	Debt Service Fund Series 2006

	Series 2006 Amortization Schedule

6		Assessment Schedule

Portofino Vista	
Community Development District	
Approved Proposed Budget	
General Fund	

Adopted Budget	
Actuals Thru	
Projected Next	
Projected Thru	Approved Proposed Budget	
Description	FY2026	2/28/26	7 Months	9/30/26	FY 2027	

REVENUES:

Special Assessments - On Roll	$	76,613	$49,930	$26,683	$76,613	$76,613	
Delinquent Maintenance Assessments	-	-	-	-	-	
Interest income	-	4,156	3,000	7,156	5,000	

TOTAL REVENUES	$76,613	$54,086	$29,683	$83,768	$81,613	

EXPENDITURES:

Administrative						
Engineering	$	1,000	$	-	$	583	$	583	$	1,000	
Attorney	8,500	3,244	$	4,958	8,202	8,500	
Annual Audit	4,800	3,400	-	3,400	3,500	
Assessment Administration	2,300	2,300	-	2,300	2,438	
Arbitrage Rebate	600	600	-	600	600	
Dissemination Agent	1,418	591	827	1,418	1,503	
Trustee Fees	3,007	-	3,007	3,007	3,007	
Management Fees	35,047	14,603	20,444	35,047	37,150	
Property Appraiser	200	261	-	261	200	
Information Technology	1,134	473	662	1,134	1,202	
Website Maintenance	1,134	473	662	1,134	1,202	
Telephone	25	-	17	17	25	
Postage & Delivery	150	-	88	88	150	
Rentals & Lease	2,400	-	-	-	-	
Insurance General Liability	9,304	8,295	-	8,295	9,125	
Printing & Binding	200	-	117	117	200	
Legal Advertising	500	-	333	333	800	
Other Current Charges	320	207	113	320	500	
Office Supplies	30	-	17	17	30	
Dues, Licenses & Subscriptions	175	175	-	175	175	
Capital Outlay	500	-	500	500	500	
Contingency	330	-	330	330	6,267	

TOTAL ADMINISTRATIVE	$73,073	$34,620	$32,657	$67,277	$78,073	

Operations & Maintenance

Field Expenditures

Lake Maintenance	$	3,540	$	1,430	$	2,002	$	3,432	$	3,540	

TOTAL FIELD EXPENDITURES	$3,540	$1,430	$2,002	$3,432	$3,540	

TOTAL EXPENDITURES	$76,613	$36,050	$34,659	$70,709	$81,613	

EXCESS REVENUES (EXPENDITURES)	$	-	$18,036	$(4,977)	$13,060	$	-	

Portofino Vista	
Community Development District	
Budget Narrative	

REVENUES	

Special Assessments -On Roll	
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.	
Interest	
The District earns interest on the monthly average collected balance for each of their investment accounts.	

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.	
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.	
Assessment Administration	
GMS SF, LLC provides assessment services for closing lot sales, assessment roll services with the local Tax Collector and financial advisory services.	
Arbitrage Rebate	
The District is required to have an annual arbitrage rebate calculation on the District’s Bonds. The District will contract with an independent auditing firm 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.	
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.	
Property Appraiser	
The Osceola County Board of Commissioners provides the District with a listing of the legal description of each property parcel within the District boundaries, and the names and addresses of the owners of such property. The District reimburses the Board of Commissioners for necessary administrative costs incurred to provide this service. Per the Florida Statutes, administrative costs shall include, but not be limited to, those costs associated with personnel, forms, supplies, data processing, computer equipment, postage, and programming. The budget for Board of Commissioners costs was based on a unit price per parcel.	
Information Technology	
The District processes all of its financial activities, i.e. accounts payable, financial statements, etc. on a main frame computer leased by Governmental Management Services – South Florida, LLC.	
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.	

Portofino Vista	
Community Development District	
Budget Narrative	

Expenditures - Administrative (continued)	

Communication - Telephone	
New internet and Wi-Fi service for Office.	
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.	
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 Florida Department of Commerce 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	
Contingencies	
A contingency for any unanticipated and unscheduled cost to the District.	
Expenditures – Field	

Lake Maintenance	
The District will go into contract with a company who will provide monthly water management services.	

Portofino Vista	
Community Development District	
Approved Proposed Budget	
Debt Service Series 2006A/B Special Assessment Revenue Bonds	

Adopted Budget	Approved Proposed Budget	
Description	FY2026	FY 2027	

REVENUES:

Special Assessments-On Roll	$	51,414	$	51,414	
Special Assessments-Direct	144,319	144,319	
Carry Forward Surplus	-	-	

TOTAL REVENUES	$195,733	$195,733	

EXPENDITURES:

Interest - 11/01 (1)	$	53,818	$	50,470	
Interest - 05/01 (1)	53,818	50,470	
Principal - 05/01	130,000	135,000	

TOTAL EXPENDITURES	$237,635	$235,940	

EXCESS REVENUES (EXPENDITURES)	$(41,902)	$(40,207)	

Interest Due 11/1/27	$46,993.75
(1) Interest payment due is based on outstanding principal balance.	
Bond is in foreclosure	

Portofino Vista	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2006A/B Special Assessment Revenue Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	
11/01/24	2,215,000	5.150%	-	57,036.25	232,033.75	
05/01/25	2,215,000	5.150%	125,000	57,036.25		
11/01/25	2,090,000	5.150%	-	53,817.50	235,853.75	
05/01/26	2,090,000	5.150%	130,000	53,817.50		
11/01/26	1,960,000	5.150%	-	50,470.00	234,287.50	
05/01/27	1,960,000	5.150%	135,000	50,470.00		
11/01/27	1,825,000	5.150%	-	46,993.75	232,463.75	
05/01/28	1,825,000	5.150%	145,000	46,993.75		
11/01/28	1,680,000	5.150%	-	43,260.00	235,253.75	
05/01/29	1,680,000	5.150%	150,000	43,260.00		
11/01/29	1,530,000	5.150%	-	39,397.50	232,657.50	
05/01/30	1,530,000	5.150%	160,000	39,397.50		
11/01/30	1,370,000	5.150%	-	35,277.50	234,675.00	
05/01/31	1,370,000	5.150%	165,000	35,277.50		
11/01/31	1,205,000	5.150%	-	31,028.75	231,306.25	
05/01/32	1,205,000	5.150%	175,000	31,028.75		
11/01/32	1,030,000	5.150%	-	26,522.50	232,551.25	
05/01/33	1,030,000	5.150%	185,000	26,522.50		
11/01/33	845,000	5.150%	-	21,758.75	233,281.25	
05/01/34	845,000	5.150%	195,000	21,758.75		
11/01/34	650,000	5.150%	-	16,737.50	233,496.25	
05/01/35	650,000	5.150%	205,000	16,737.50		
11/01/35	445,000	5.150%	-	11,458.75	233,196.25	
05/01/36	445,000	5.150%	215,000	11,458.75		
11/01/36	230,000	5.150%	-	5,922.50	232,381.25	
05/01/37	230,000	5.150%	230,000	5,922.50	235,922.50	

Total	$3,570,000	$3,596,721	$7,166,721	

Portofino Vista	
Community Development District	
Non-Ad Valorem Assessments Comparison	
2026-2027	

Neighborhood	O&M Units	Bonds Units
2006	
Annual Maintenance Assessments	
Annual Debt Assessments	
Total Assessed Per Unit	
	
FY 2027	
FY2026	Increase/ (decrease)	
FY 2027	
FY2026	Increase/ (decrease)	
FY 2027	
FY2026	Increase/ (decrease)	

Townhomes	

57	

57	

$311.08	

$311.08	

$0.00	

$959.57	

$959.57	

$0.00	

$1,270.65	

$1,270.65	

$0.00	
Tax Deed Lots	45	0	$311.08	$311.08	$0.00	$959.57	$959.57	$0.00	$1,270.65	$1,270.65	$0.00	

Lots-Prime	
159	
159	
$311.08	
$311.08	
$0.00	
$959.57	
$959.57	
$0.00	
$1,270.65	
$1,270.65	
$0.00	
County	1	1	$311.08	$311.08	$0.00	$959.57	$959.57	$0.00	$1,270.65	$1,270.65	$0.00	
Total	262	217										

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