Keys Cove Community Development District

Proposed Budget For Fiscal Year 2026/2027
October 1, 2026 - September 30, 2027

CONTENTS

I

PROPOSED BUDGET

II

DETAILED PROPOSED BUDGET

III

DETAILED PROPOSED DEBT SERVICE FUND BUDGET

IV

ASSESSMENT COMPARISON

PROPOSED BUDGET
KEYS COVE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

I

REVENUES

FISCAL YEAR 2026/2027 BUDGET

ADMINISTRATIVE ASSESSMENTS

95,997

MAINTENANCE ASSESSMENTS

249,468

DEBT ASSESSMENTS

613,370

OTHER REVENUES

0

INTEREST INCOME

2,100

TOTAL REVENUES

$	960,935

EXPENDITURES

MAINTENANCE EXPENDITURES

MAINTENANCE CONTINGENCY

50,000

STORM DRAINAGE MAINTENANCE

45,000

ROADWAY RESURFACING PROJECT

85,000

MAINTENANCE RESERVE

20,000

FOUNTAIN MAINTENANCE/RESERVE

20,000

HOLIDAY LIGHTING CONTRIBUTION

2,500

ENGINEERING/INSPECTIONS

12,000

LAKE RESTORATION PROJECT

0

TOTAL MAINTENANCE EXPENDITURES

$	234,500

ADMINISTRATIVE EXPENDITURES

SUPERVISOR FEES

6,000

EMPLOYER TAXES

480

MANAGEMENT

37,032

REIMBURSABLES (POSTAGE/OFFICE SUPPLIES)

900

LEGAL

12,500

ASSESSMENT ROLL

7,500

AUDIT FEES

3,700

ARBITRAGE REBATE FEE

650

INSURANCE

11,000

LEGAL ADVERTISING

2,650

MISCELLANEOUS

2,900

DUES & SUBSCRIPTIONS

175

TRUSTEE FEES

4,500

WEBSITE MANAGEMENT

2,000

CONTINUING DISCLOSURE FEE

350

TOTAL ADMINISTRATIVE EXPENDITURES

$	92,337

TOTAL EXPENDITURES

$	326,837

REVENUES LESS EXPENDITURES

$	634,098

BOND PAYMENTS

(576,568)

BALANCE

$	57,530

COUNTY APPRAISER & TAX COLLECTOR FEE

(19,177)

DISCOUNTS FOR EARLY PAYMENTS

(38,353)

EXCESS/ (SHORTFALL)

$	-

CARRYOVER FROM PRIOR YEAR

0

NET EXCESS/ (SHORTFALL)

$	-

DETAILED PROPOSED BUDGET
KEYS COVE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2026/2027
OCTOBER 1, 2026 - SEPTEMBER 30, 2027

II

REVENUES

FISCAL YEAR 2024/2025
ACTUAL

FISCAL YEAR 2025/2026
BUDGET

FISCAL YEAR 2026/2027
BUDGET

COMMENTS

ADMINISTRATIVE ASSESSMENTS

101,315

96,532

95,997

Expenditures Less Interest & Carryover (25%)/.94

MAINTENANCE ASSESSMENTS

249,646

253,191

249,468

Expenditures Less Carryover (75%)/.94

DEBT ASSESSMENTS

607,339

613,370

613,370

Bond Payments/.94

OTHER REVENUES

0

0

0

INTEREST INCOME

40,726

1,800

2,100

Interest Projected At $175 Per Month

TOTAL REVENUES

$	999,026

$	964,893

$	960,935

EXPENDITURES

MAINTENANCE EXPENDITURES

MAINTENANCE CONTINGENCY

0

53,500

50,000

Maintenance Contingency

STORM DRAINAGE MAINTENANCE

0

35,000

45,000

For Storm Drainage Maintenance Reserve

ROADWAY RESURFACING PROJECT

0

85,000

85,000

Fourteen Year Project (Eighth Year)

MAINTENANCE RESERVE

0

25,000

20,000

$5,000 Decrease From 2025/2026 Budget

FOUNTAIN MAINTENANCE/RESERVE

975

25,000

20,000

$5,000 Decrease From 2025/2026 Budget

HOLIDAY LIGHTING CONTRIBUTION

0

2,500

2,500

No Change From 2025/2026 Budget

ENGINEERING/INSPECTIONS

4,563

12,000

12,000

No Change From 2025/2026 Budget

LAKE RESTORATION PROJECT

35,014

0

0

Reserve For Lake Restoration Project As Of 3/31/26 Is $262,295

TOTAL MAINTENANCE EXPENDITURES

$	40,552

$	238,000

$	234,500

ADMINISTRATIVE EXPENDITURES

SUPERVISOR FEES

1,800

6,000

6,000

No Change From 2025/2026 Budget

EMPLOYER TAXES

212

480

480

Projected At 8% Of Supervisor Fees

MANAGEMENT

35,052

36,060

37,032

CPI Adjustment

REIMBURSABLES (POSTAGE/OFFICE SUPPLIES)

343

975

900

$75 Decrease From 2025/2026 Budget

LEGAL

8,708

13,500

12,500

FY 25/26 Expenditure Through Feb 2026 Was $3,128

ASSESSMENT ROLL

7,500

7,500

7,500

No Change From 2025/2026 Budget

AUDIT FEES

3,500

3,600

3,700

Accepted Amount For 2025/2026 Audit

ARBITRAGE REBATE FEE

650

650

650

No Change From 2025/2026 Budget

INSURANCE

8,609

11,500

11,000

Fiscal Year 2025/2026 Expenditure Was $9,280

LEGAL ADVERTISING

2,002

2,750

2,650

$100 Decrease From 2025/2026 Budget

MISCELLANEOUS

2,809

2,500

2,900

$400 Increase From 2024/2025 Budget

DUES & SUBSCRIPTIONS

175

175

175

No Change From 2025/2026 Budget

TRUSTEE FEES

4,246

4,500

4,500

No Change From 2025/2026 Budget

WEBSITE MANAGEMENT

2,000

2,000

2,000

No Change From 2025/2026 Budget

CONTINUING DISCLOSURE FEE

350

350

350

No Change From 2025/2026 Budget

TOTAL ADMINISTRATIVE EXPENDITURES

$	77,956

$	92,540

$	92,337

TOTAL EXPENDITURES

$	118,508

$	330,540

$	326,837

REVENUES LESS EXPENDITURES

$	880,518

$	634,353

$	634,098

BOND PAYMENTS

(582,210)

(576,568)

(576,568)

2027 Principal & Interest Payments

BALANCE

$	298,308

$	57,785

$	57,530

COUNTY APPRAISER & TAX COLLECTOR FEE

(9,265)

(19,261)

(19,177)

Two Percent Of Total Assessment Roll

DISCOUNTS FOR EARLY PAYMENTS

(30,231)

(38,524)

(38,353)

Four Percent Of Total Assessment Roll

EXCESS/ (SHORTFALL)

$	258,812

$	-

$	-

CARRYOVER FROM PRIOR YEAR

0

0

0

Carryover Balance From Prior Year

NET EXCESS/ (SHORTFALL)

$	258,812

$	-

$	-

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
KEYS COVE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

Series 2019 Bond Refunding  Information

Original Par Amount = Interest Rate=
Issue Date: Maturity Date:

$7,322,000 2.60%
December 2019
May 2035

Annual Principal Payments Due:
Annual Interest Payments Due :

May 1st
May 1st & November 1st

Par Amount As Of 1/1/2026 =

$4,835,000

III

REVENUES

FISCAL YEAR 2024/2025 ACTUAL

FISCAL YEAR 2025/2026 BUDGET

FISCAL YEAR 2026/2027 BUDGET

COMMENTS

Interest Income

19,392

1,500

2,000

Projected Interest For 2026/2027

NAV Tax Collection

582,210

576,568

576,568

Yearly Maximum Debt Assessment

Total Revenues

$	601,602

$	578,068

$	578,568

EXPENDITURES

Principal Payments

436,000

446,000

456,000

Principal Payment Due In 2027

Interest Payments

137,046

119,912

108,186

Interest Payments Due In 2027

Bond Redemption

0

12,156

14,382

Estimated Excess Debt Collections

Total Expenditures

$	573,046

$	578,068

$	578,568

Excess/Shortfall

$	28,556

$	-

$	-

Keys Cove Community Development District Assessment Comparison

Fiscal Year 2022/2023
	Assessment*	

Fiscal Year 2023/2024
	Assessment*	

Fiscal Year 2024/2025
	Assessment*	

Fiscal Year 2025/2026
	Assessment*	

Fiscal Year 2026/2027
  Projected Assessment* 

Administrative
Maintenance Debt

$
$

85.77
544.72

$
$

90.79
385.02

$
$

100.44
258.86

$
$

99.11
259.96

$
$

98.57
256.14

 $	629.75

$	629.75

$	629.75

$	629.75

 $	629.75

Total

$

1,260.24

$

1,105.56

$

989.05

$

988.82

$

984.46

* Assessments Include the Following :

4% Discount for Early Payments 1% County Tax Collector Fee
1% County Property Appraiser Fee

Community Information:

Total Units

974

IV