Adopted Budget	
Fiscal Year 2021	

Mediterranea	
Community  Development District	

August 4, 2020	

Mediterranea		
Community Development District	

TABLE OF CONTENTS		

General Fund		
Budget	Page 1	
Narrative	Page 2-3	
Debt Service Fund		
Series 2014-A1		
Budget	Page 4	
Amortization Schedule - 2014-A1	Page 5	
Series 2017		
Budget	Page 6	
Amortization Schedule - 2017	Page 7	

Mediterranea								
Community Development District			

				General Fund	
	FY 2020		Actual	Projected	Total		FY 2021	
	Adopted		thru	Next	Projected at		Adopted	
 Description		 	Budget			     6/30/2020		 	3 Months		     9/30/2020			 	Budget		

Revenues								
Maintenance Assessments- Tax Roll	$142,076		$65,821	$0	$65,821		$142,076	
Maintenance Assessments- Off Roll	$0		$36,707	$40,271	$76,978		$0	
Unassigned Fund Balance	$23,047		$36,946	$0	$36,946		$38,822	
Total Revenues	 	$165,123 		 	$139,473 	 	$40,271 	 	$179,744 		 	$180,898 	
Expenditures								
Administrative:								
Engineering	$12,000		$5,814	$6,186	$12,000		$12,000	
Attorney	$15,000		$7,291	$7,709	$15,000		$15,000	
Arbitrage	$1,200		$0	$1,200	$1,200		$1,200	
Dissemination	$2,500		$1,875	$625	$2,500		$2,500	
Trustee Fees	$8,100		$5,212	$2,888	$8,100		$8,100	
Annual Audit	$4,600		$4,600	$0	$4,600		$4,600	
Management Fees	$30,900		$23,175	$7,725	$30,900		$30,900	
Website Compliance	$1,000		$750	$250	$1,000		$1,000	
Telephone	$50		$0	$50	$50		$50	
Postage	$250		$249	$1	$250		$250	
Printing & Binding	$500		$63	$137	$200		$500	
Insurance	$6,001		$5,894	$0	$5,894		$6,001	
Legal Advertising	$2,250		$48	$2,000	$2,048		$2,250	
Other Current Charges	$600		$1,357	$336	$1,693		$1,400	
Office Supplies	$50		$3	$47	$50		$50	
Dues, Licenses & Subscriptions	$175		$175	$0	$175		$175	
Capital Outlay	$250		$0	$250	$250		$250	
First Quarter Operating	$23,198		$0	$23,198	$23,198		$38,172	
Administrative Expenditures	 	$108,623 		 	$56,506 	 	$52,602 	 	$109,108 		 	$124,398 	
Field:								
Lake Maintenance	$6,500		$4,860	$1,954	$6,814		$6,500	
Landscape Maintenance	$30,000		$0	$15,000	$15,000		$30,000	
Irrigation Repairs and Maintenance	$10,000		$0	$5,000	$5,000		$10,000	
Contingency	$10,000		$0	$5,000	$5,000		$10,000	
Field Expenditures	 	$56,500 		 	$4,860 	 	$26,954 	 	$31,814 		 	$56,500 	
Total Expenditures	 	$165,123 		 	$61,366 	 	$79,556 	 	$140,922 		 	$180,898 	
Assigned Fund Balance	 	$0 		 	$78,107 	 	($39,285)	 	$38,822 		 	$0 	

(1) Assessment area 2 - Direct Billed per SPE Agreement					FY 2020		FY 2021	
				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	

Page 1

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.

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.

Mediterranea							
Community Development District				Debt Service Fund	
Series 2014-A1, Special Assessment Bonds	
	FY 2020	Actual	Projected		Total	FY 2021	
	Adopted	Thru	Next		Projected	Adopted	
 Description		 	Budget		     6/30/2020		 		3 Months			     9/30/2020		 	Budget		
Revenues							
Interest Income	$0	$1,219	$50		$1,269	$0	
Special Assessments - On Roll	$75,568	$76,322	$0		$76,322	$75,568	
Carry Forward Surplus (1)	$109,070	$112,284	$0		$112,284	$114,275	
    TOTAL REVENUES		 	$184,638 	 	$189,825  	 		$50 		 	$189,875 	 	$189,843 	
Expenditures							
Series 2014-A1							
Interest 11/1	$23,800	$23,800	$0		$23,800	$23,016	
Interest - 5/1	$23,800	$23,800	$0		$23,800	$23,016	
Principal - 5/1	$28,000	$28,000	$0		$28,000	$30,000	
    TOTAL EXPENDITURES		 	$75,600 	 	$75,600  	 		$0 		 	$75,600 	 	$76,032 	
EXCESS REVENUES	$109,038	$114,225	$50		$114,275	$113,811	
					11/1/2021	$22,176	
(1) Carry forward surplus is net of the reserve requirement	
					Gross		
			No. of Units		Amount	FY 2021	
		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				Amortization  Schedule	
Community Development District			Series 2014A1, Special Assessment Bonds	
DATE	BALANCE	RATE	PRINCIPAL		INTEREST		TOTAL	

05/01/14	
$970,000.00	
5.60%	
$0.00		
$0.00			
11/01/14	$970,000.00	5.60%	$0.00		$27,160.00		$27,160.00	
05/01/15	$970,000.00	5.60%	$21,000.00		$27,160.00			
11/01/15	$949,000.00	5.60%	$0.00		$26,572.00		$74,732.00	
05/01/16	$949,000.00	5.60%	$23,000.00		$26,572.00			
11/01/16	$926,000.00	5.60%	$0.00		$25,928.00		$75,500.00	
05/01/17	$926,000.00	5.60%	$24,000.00		$25,928.00			
11/01/17	$902,000.00	5.60%	$0.00		$25,256.00		$75,184.00	
05/01/18	$902,000.00	5.60%	$25,000.00		$25,256.00			
11/01/18	$877,000.00	5.60%	$0.00		$24,556.00		$74,812.00	
05/01/19	$877,000.00	5.60%	$27,000.00		$24,556.00			
11/01/19	$850,000.00	5.60%	$0.00		$23,800.00		$75,356.00	
05/01/20	$850,000.00	5.60%	$28,000.00		$23,800.00			
11/01/20	$822,000.00	5.60%	$0.00		$23,016.00		$74,816.00	
05/01/21	$822,000.00	5.60%	$30,000.00		$23,016.00			
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			
11/01/22	$760,000.00	5.60%	$0.00		$21,280.00		$75,456.00	
05/01/23	$760,000.00	5.60%	$33,000.00		$21,280.00			
11/01/23	$727,000.00	5.60%	$0.00		$20,356.00		$74,636.00	
05/01/24	$727,000.00	5.60%	$35,000.00		$20,356.00			
11/01/24	$692,000.00	5.60%	$0.00		$19,376.00		$74,732.00	
05/01/25	$692,000.00	5.60%	$37,000.00		$19,376.00			
11/01/25	$655,000.00	5.60%	$0.00		$18,340.00		$74,716.00	
05/01/26	$655,000.00	5.60%	$39,000.00		$18,340.00			
11/01/26	$616,000.00	5.60%	$0.00		$17,248.00		$74,588.00	
05/01/27	$616,000.00	5.60%	$42,000.00		$17,248.00			
11/01/27	$574,000.00	5.60%	$0.00		$16,072.00		$75,320.00	
05/01/28	$574,000.00	5.60%	$44,000.00		$16,072.00			
11/01/28	$530,000.00	5.60%	$0.00		$14,840.00		$74,912.00	
05/01/29	$530,000.00	5.60%	$47,000.00		$14,840.00			
11/01/29	$483,000.00	5.60%	$0.00		$13,524.00		$75,364.00	
05/01/30	$483,000.00	5.60%	$49,000.00		$13,524.00			
11/01/30	$434,000.00	5.60%	$0.00		$12,152.00		$74,676.00	
05/01/31	$434,000.00	5.60%	$52,000.00		$12,152.00			
11/01/31	$382,000.00	5.60%	$0.00		$10,696.00		$74,848.00	
05/01/32	$382,000.00	5.60%	$55,000.00		$10,696.00			
11/01/32	$327,000.00	5.60%	$0.00		$9,156.00		$74,852.00	
05/01/33	$327,000.00	5.60%	$58,000.00		$9,156.00			
11/01/33	$269,000.00	5.60%	$0.00		$7,532.00		$74,688.00	
05/01/34	$269,000.00	5.60%	$62,000.00		$7,532.00			
11/01/34	$207,000.00	5.60%	$0.00		$5,796.00		$75,328.00	
05/01/35	$207,000.00	5.60%	$65,000.00		$5,796.00			
11/01/35	$142,000.00	5.60%	$0.00		$3,976.00		$74,772.00	
05/01/36	$142,000.00	5.60%	$69,000.00		$3,976.00			
11/01/36	$73,000.00	5.60%	$0.00		$2,044.00		$75,020.00	
05/01/37	$73,000.00	5.60%	$73,000.00		$2,044.00		$75,044.00	
 	TOTAL				 	$970,000.00 		 	$781,704.00 		 	$1,751,704.00 	

Mediterranea								
Community Development District				Debt Service Fund	
Series 2017, Special Assessment Refunding and Improvement Bonds	
	FY 2020	Actual	Projected		Total		FY 2021	
	Adopted	Thru	Next		Projected		Adopted	
 Description		 	Budget		     6/30/2020		 	3 Months			     9/30/2020			 	Budget		
Revenues								
Interest Income	$2,500	$6,678	$500		$7,178		$2,500	
Special Assessments - On Roll	$556,877	$219,755	$0		$219,755		$592,422	
Special Assessments - Off Roll	$0	$304,999	$68,451		$373,450		$0	
Carry Forward Surplus (1)	$212,682	$175,065	$0		$175,065		$218,180	
    TOTAL REVENUES		 	$772,059 	 	$706,496 	 	$68,951 		 	$775,447 		 	$813,102 	
Expenditures								
Series 2017								
Interest 11/1	$203,638	$203,638	$0		$203,638		$201,013	
Interest - 5/1	$203,638	$203,638	$0		$203,638		$201,013	
Principal - 5/1	$150,000	$150,000	$0		$150,000		$155,000	
    TOTAL EXPENDITURES		 	$557,276 	 	$557,276 	 	$0 		 	$557,276 		 	$557,025 	
Other Sources and Uses								
Interfund Transfer In/(Out) (2)	$0	$9	$0		$9		$0	
    TOTAL OTHER SOURCES AND USES	 	$0 	 	$9 	 	$0 		 	$9 		 	$0 	
EXCESS REVENUES	$214,783	$149,230	$68,951		$218,180		$256,077	
(1) Carry forward surplus is net of the reserve requirement					11/1/2021		$198,300	
					Gross			
			No. of Units		Amount		FY 2021	
		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				Amortization  Schedule	
Community Development District		Series 2017, Special Assessment Refunding and Improvement Bonds	
DATE	BALANCE	RATE	PRINCIPAL		INTEREST		TOTAL	

05/01/19	
$8,760,000.00	
5.60%	
$145,000.00		
$206,175.00			
11/01/19	$8,615,000.00	5.60%	$0.00		$203,637.50		$554,812.50	
05/01/20	$8,615,000.00	5.60%	$150,000.00		$203,637.50			
11/01/20	$8,465,000.00	5.60%	$0.00		$201,012.50		$554,650.00	
05/01/21	$8,465,000.00	5.60%	$155,000.00		$201,012.50			
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			
11/01/22	$8,150,000.00	5.60%	$0.00		$195,500.00		$553,800.00	
05/01/23	$8,150,000.00	5.60%	$165,000.00		$195,500.00			
11/01/23	$7,985,000.00	5.60%	$0.00		$192,612.50		$553,112.50	
05/01/24	$7,985,000.00	5.60%	$175,000.00		$192,612.50			
11/01/24	$7,810,000.00	5.60%	$0.00		$188,893.75		$556,506.25	
05/01/25	$7,810,000.00	5.60%	$180,000.00		$188,893.75			
11/01/25	$7,630,000.00	5.60%	$0.00		$185,068.75		$553,962.50	
05/01/26	$7,630,000.00	5.60%	$190,000.00		$185,068.75			
11/01/26	$7,440,000.00	5.60%	$0.00		$181,031.25		$556,100.00	
05/01/27	$7,440,000.00	5.60%	$195,000.00		$181,031.25			
11/01/27	$7,245,000.00	5.60%	$0.00		$176,887.50		$552,918.75	
05/01/28	$7,245,000.00	5.60%	$205,000.00		$176,887.50			
11/01/28	$7,040,000.00	5.60%	$0.00		$172,531.25		$554,418.75	
05/01/29	$7,040,000.00	5.60%	$215,000.00		$172,531.25			
11/01/29	$6,825,000.00	5.60%	$0.00		$167,962.50		$555,493.75	
05/01/30	$6,825,000.00	5.60%	$225,000.00		$167,962.50			
11/01/30	$6,600,000.00	5.60%	$0.00		$162,618.75		$555,581.25	
05/01/31	$6,600,000.00	5.60%	$235,000.00		$162,618.75			
11/01/31	$6,365,000.00	5.60%	$0.00		$157,037.50		$554,656.25	
05/01/32	$6,365,000.00	5.60%	$245,000.00		$157,037.50			
11/01/32	$6,120,000.00	5.60%	$0.00		$151,218.75		$553,256.25	
05/01/33	$6,120,000.00	5.60%	$260,000.00		$151,218.75			
11/01/33	$5,860,000.00	5.60%	$0.00		$145,043.75		$556,262.50	
05/01/34	$5,860,000.00	5.60%	$270,000.00		$145,043.75			
11/01/34	$5,590,000.00	5.60%	$0.00		$138,631.25		$553,675.00	
05/01/35	$5,590,000.00	5.60%	$285,000.00		$138,631.25			
11/01/35	$5,305,000.00	5.60%	$0.00		$131,862.50		$555,493.75	
05/01/36	$5,305,000.00	5.60%	$300,000.00		$131,862.50			
11/01/36	$5,005,000.00	5.60%	$0.00		$124,737.50		$556,600.00	
05/01/37	$5,005,000.00	5.60%	$310,000.00		$124,737.50			
11/01/37	$4,695,000.00	5.60%	$0.00		$117,375.00		$552,112.50	
05/01/38	$4,695,000.00	5.60%	$330,000.00		$117,375.00			
11/01/38	$4,365,000.00	5.60%	$0.00		$109,125.00		$556,500.00	
05/01/39	$4,365,000.00	5.60%	$345,000.00		$109,125.00			
11/01/39	$4,020,000.00	5.60%	$0.00		$100,500.00		$554,625.00	
05/01/40	$4,020,000.00	5.60%	$365,000.00		$100,500.00			
11/01/40	$3,655,000.00	5.60%	$0.00		$91,375.00		$556,875.00	
05/01/41	$3,655,000.00	5.60%	$380,000.00		$91,375.00			
11/01/41	$3,275,000.00	5.60%	$0.00		$81,875.00		$553,250.00	
05/01/42	$3,275,000.00	5.60%	$400,000.00		$81,875.00			
11/01/42	$2,875,000.00	5.60%	$0.00		$71,875.00		$553,750.00	
05/01/43	$2,875,000.00	5.60%	$420,000.00		$71,875.00			
11/01/43	$2,455,000.00	5.60%	$0.00		$61,375.00		$553,250.00	
05/01/44	$2,455,000.00	5.60%	$445,000.00		$61,375.00			
11/01/44	$2,010,000.00	5.60%	$0.00		$50,250.00		$556,625.00	
05/01/45	$2,010,000.00	5.60%	$465,000.00		$50,250.00			
11/01/45	$1,545,000.00	5.60%	$0.00		$38,625.00		$553,875.00	
05/01/46	$1,545,000.00	5.60%	$490,000.00		$38,625.00			
11/01/46	$1,055,000.00	5.60%	$0.00		$26,375.00		$555,000.00	
05/01/47	$1,055,000.00	5.60%	$515,000.00		$26,375.00			
11/01/47	$540,000.00	5.60%	$0.00		$13,500.00		$554,875.00	
05/01/48	$540,000.00	5.60%	$540,000.00		$13,500.00		$553,500.00	
 	TOTAL				 	$8,760,000.00 		 	$7,879,850.00 		 	$16,639,850.00