Radiance
Community Development District

Proposed Budget
FY2027

Table of Contents

1-2	General Fund

3-7

8

9-10

General Fund Narrative

Debt Service Fund - Series 2025

Amortization Schedule - Series 2025

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2026	3/31/26	6 Months	9/30/26	FY2027	

Revenues											
Assessments	$	-	$	-	$	-	$	-	$	336,245	
Developer Contributions	$	255,155	$	46,712	$	65,000	$	111,712	$	-	
Total Revenues	$	255,155	$	46,712	$	65,000	$	111,712	$	336,245	

Expenditures											
General & Administrative											
Supervisor Fees	$	2,400	$	200	$	400	$	600	$	2,400	
FICA Expense	$	-	$	-	$	-	$	-	$	-	
Engineering Fees	$	30,000	$	6,192	$	6,192	$	12,384	$	30,000	
Dissemination Fees	$	2,000	$	3,861	$	2,502	$	6,363	$	5,150	
Assessment Administration	$	2,500	$	-	$	2,500	$	2,500	$	6,180	
Attorney	$	25,000	$	7,322	$	7,322	$	14,644	$	15,000	
Annual Audit	$	-	$	-	$	3,250	$	3,250	$	3,500	
Arbitrage	$	-	$	-	$	-	$	-	$	450	
Trustee Fees	$	-	$	-	$	3,750	$	3,750	$	3,750	
Management Fees	$	20,000	$	20,889	$	19,998	$	40,887	$	41,200	
Administrative Services	$	12,750	$	-	$	-	$	-	$	-	
Accounting Services	$	12,750	$	-	$	-	$	-	$	-	
Website Administration	$	1,580	$	1,287	$	1,392	$	2,679	$	1,236	
Information Technology	$	-	$	620	$	900	$	1,520	$	1,854	
Postage	$	500	$	75	$	75	$	150	$	500	
Copies	$	-	$	-	$	-	$	-	$	250	
Insurance	$	7,000	$	5,732	$	-	$	5,732	$	6,500	
Printing & Binding	$	500	$	-	$	250	$	250	$	500	
Legal Advertising	$	10,000	$	-	$	750	$	750	$	2,500	
Other Current Charges	$	500	$	1,402	$	900	$	2,302	$	2,500	
Office Supplies	$	-	$	-	$	50	$	50	$	100	
Dues, Licenses & Subscriptions	$	175	$	175	$	-	$	175	$	175	
Contingency	$	1,500	$	127	$	500	$	627	$	1,500	
Total General & Administrative	$	129,155	$	47,882	$	50,731	$	98,613	$	125,245	

Adopted Budget
Description	FY2026	Actuals Thru 3/31/26	Projected Next
6 Months	Projected Thru 9/30/26	Proposed Budget FY2027	

Operations & Maintenance			
Field Expenditures			
Field Management	$	-	$	-	$	-	$	-	$	15,000	
Streetlights - Electric	$	-	$	-	$	-	$	-	$	10,000	
Irrigation - Water	$	-	$	-	$	-	$	-	$	10,000	
Landscape Maintenance	$	50,000	$	-	$	-	$	-	$	100,000	
Landscape Contingency	$	-	$	-	$	-	$	-	$	-	
Irrigation Repairs	$	-	$	-	$	-	$	-	$	10,000	
Landscape Inspections	$	10,000	$	-	$	-	$	-	$	-	
Lake Maintenance	$	16,000	$	-	$	-	$	-	$	16,000	
Repairs & Maintenance	$	-	$	-	$	-	$	-	$	-	

Contingency	$	50,000	$	-	$	-	$	-	$	50,000	
Subtotal Field Expenditures	$	126,000	$	-	$	-	$	-	$	211,000	
Amenity Expenditures			
Amenity Management	$	-	$	-	$	-	$	-	$	-	
Property Insurance	$	-	$	-	$	-	$	-	$	-	
Amenity - Electric	$	-	$	-	$	-	$	-	$	-	
Amenity - Water	$	-	$	-	$	-	$	-	$	-	
Dues, License, Permits	$	-	$	-	$	-	$	-	$	-	
Cable/Internet	$	-	$	-	$	-	$	-	$	-	
Pest Control	$	-	$	-	$	-	$	-	$	-	
Janitorial Services	$	-	$	-	$	-	$	-	$	-	
Security Services	$	-	$	-	$	-	$	-	$	-	
Pool Mainteance	$	-	$	-	$	-	$	-	$	-	
Pool Chemicals	$	-	$	-	$	-	$	-	$	-	
Fitness Equipment Lease	$	-	$	-	$	-	$	-	$	-	
Amenity Repairs & Maintenance	$	-	$	-	$	-	$	-	$	-	
HVAC Preventative Maintenance	$	-	$	-	$	-	$	-	$	-	
Special Events	$	-	$	-	$	-	$	-	$	-	
Holiday Decorations	$	-	$	-	$	-	$	-	$	-	
Contingency	$	-	$	-	$	-	$	-	$	-	
Subtotal Amenity Expenditures	$	-	$	-	$	-	$	-	$	-	
			
Total Operations & Maintenance	$	126,000	$	-	$	-	$	-	$	211,000	
Other Financing Sources/(Uses)			
Capital Reserves - Transfer	$	-	$	-	$	-	$	-

Total Other Expenditures	$0	$0	$0	$0	$0	
						
Total Expenditures	$	255,155	$	47,882	$	50,731	$	98,613	$	336,245	
						
Excess Revenues/(Expenditures)	$	-	$	(1,170)	$	14,269	$	13,100	$	-	

	FY27		

Product	
Assessable Units	

ERU	

Total ERU's	

Net Assessment	

Net Per Unit (6%)	

Gross Per Unit	
	Single Family	324	1.00	324.00	$	244,816	$	755.61	$	803.84	
	Undeveloped (admin only)	876	0.14	121.00	$	91,429	$	104.37	$	111.03	
Total		1200		445.00	$	336,245			

Net Assessments	$	336,245 Add: Discounts & Collections 6%	$		21,462 Gross Assessments	$	357,707

Revenues:

Assessments

The District will levy a non-ad valorem assessment on all the assessable property within the District in order to pay for the operating expenditures during the fiscal year.

Expenditures:

General & Administrative:
Supervisor Fees

Chapter 190, Florida Statutes, allows for each Board member to receive $200 per meeting, not to exceed $4,800 per year paid to each Supervisor for the time devoted to District business and meetings.

FICA Expense
Represents the Employer’s share of Social Security and Medicare taxes withheld from the Board of Supervisor checks.

Engineering Fees

The District's engineer provides general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review invoices and various projects as directed by the Board of Supervisors and the District Manager.

Dissemination Fees

The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(5) which relates to additional reporting requirements for unrated bond issues. This cost is based on the Series 2025 bond issuance.
Assessment Administration

The District will contract to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Attorney Fees
The District's legal counsel provides general legal services to the District, e.g. attendance and preparation for meetings, preparation and review of agreements, resolutions, etc. as directed by the Board of Supervisors and the District Manager.

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis.
Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on Series 2025 bond issuance.

Trustee Fees
The District will incur trustee related costs with the issuance of its’ issued bonds.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-Central Florida, LLC. The services include but are not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reports, annual audits, etc.

Website Administration
Represents the costs associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc.

Information Technology
Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, positive pay implementation and programming for fraud protection, accounting software, tablets for meetings, Adobe, Microsoft Office, etc.

Postage
The District incurs charges for mailing of Board meeting agenda packages, overnight deliveries, correspondence, etc.

Copies

The District incurs charges for miscellaneous copies of documents.
Insurance

The District’s general liability and public official’s liability insurance coverages.

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.

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

Office Supplies

Any supplies that may need to be purchased during the fiscal year, e.g., paper, minute books, file folders, labels, paper clips, etc.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Florida Department of Economic Opportunity for $175.

Contingency
Represents any other miscellaneous administrative charges incurred by the District..

Operations & Maintenance:

Field Expenditures

Field Management
Represents the estimated costs of contracting services that provide onsite field management of contracts for the District such as landscape and lake maintenance. Services can include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Streetlights-Electric
Represents the cost to maintain street lights within the District Boundaries that are expected to be in place throughout the fiscal year.

Irrigation - Water

Represents the estimated costs for water usage of the irrigation system.
Landscape Maintenance

Represents the estimated maintenance of the landscaping within the common areas of the District after the installation of landscape material has been completed.
Landscape Contingency

Represents the estimated cost of replacing landscaping within the common areas of the District.

Irrigation Repairs

Represents the cost of maintaining and repairing the irrigation system. This includes the sprinklers, and irrigation wells.
Lake Maintenance

Represents the estimated maintenance of the lakes and ponds within the common areas of the District.

Repairs & Maintenance
Represents estimated costs for general repairs and maintenance of the District’s common areas.

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any field category.
Amenity Expenses

Amenity Management

Represents compensation for the Amenity Center staff which provides funds for employee benefits.
Property Insurance

The District’s property and casualty insurance coverages.

Amenity - Electric

Represents estimated electric charges for the District’s amenity facilities.

Amenity – Water
Represents estimated water charges for the District’s amenity facilities.

Dues, License, Permits

Any cost incurred for Permits and Licenses.
Cable/Internet

Represents cost to provide cable and internet at the amenity center. The district will receive free cable service. .

Pest Control

The District will incur costs for pest control treatments to its amenity facilities. Janitorial Services
Represents costs to provide janitorial services and supplies for the District’s amenity facilities. Security Services
Represents the cost of contracting a monthly security service for the District’s amenity facilities.

Pool Maintenance

Represents the costs of regular cleaning and treatments of the District’s pool.
Pool Chemicals

Represents the costs of pool chemicals to treat the District’s pool.

Fitness Equipment Lease

Represents the costs of the fitness equipment lease for the amenity center gym.
Amenity Repairs & Maintenance

Represents estimated costs for repairs and maintenance of the District’s amenity facilities.

HVAC Preventative Maintenance
Represents estimated costs for the preventative maintenance of the Districts HVAC system.

Special Events

The Amenity Manager will coordinate and provide various activities throughout the year. The amount represents the cost of supplies, notice of events, etc.
Holiday Decorations

The District will incur costs to related to the decoration of common areas during the Holidays.

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any amenity category.

Radiance
Community Development District Proposed Budget
Debt Service Fund Series 2025

Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Proposed Budget	
Description	FY2026	3/31/26	6 Months	9/30/26	FY2027	

Revenues

Assessments	$	-	$	-	$	-	$	-	$	1,290,100	
Assessments - Direct	$	-	$	-	$	515,000	$	515,000	$	-	
Assessments - Lot Closing	$	-	$	-	$	-	$	-	$	-	
Prepayments	$	-	$	-	$	-	$	-	$	-	
Interest	$	-	$	32,329	$	16,165	$	48,494	$	15,000	
Carry Forward Surplus (1)	$	-	$	669,121	$	-	$	669,121	$	541,325	
Total Revenues	$	-	$	701,450	$	531,165	$	1,232,615	$  1,846,425	
Expenditures					
Interest - 11/1	$	-	$	150,280	$	-	$	150,280	$	541,010	
Principal - 5/1	$	-	$	-	$	-	$	-	$	210,000	
Interest - 5/1	$	-	$	-	$	541,010	$	541,010	$	538,385	
Total Expenditures	$	-	$	150,280	$	541,010	$	691,290	$	1,289,395	
Other Sources/(Uses)					

Transfer In/(Out)	
$	
-	
$	
-	
$	
-	
$	
-	
$	
-	
Total Other Sources/(Uses)	$	-	$	-	$	-	$	-	$	-	
											
Excess Revenues/(Expenditures)	$	-	$	551,170	$	(9,846)	$	541,325	$	557,030	

Interest - 11/1  $	538,385
(1) Carryforward Surplus is net of Debt Service Reserve Funds

Maximum Annual	
Product	Assessable Units	Debt Service	Net Per Unit	Gross Per Unit	
Single Family	324	$	1,290,100
$	-	$	3,981.79	$	4,235.95
$	-	
Total	324	$	1,290,100			

Community Development District Series 2025 Special Assessment Bonds Amortization Schedule

DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL

11/1/25		$	-	$	150,280.56	$	150,280.56	
05/01/26	$	17,300,000.00	$	-	$	541,010.00	$	-	

11/01/26	$	-	$	-	$	541,010.00	$	1,082,020.00	
05/01/27	$	17,090,000.00	$	210,000.00	$	538,385.00	$	-	
11/01/27	$	-	$	-	$	538,385.00	$	1,286,770.00	
05/01/28	$	16,870,000.00	$	220,000.00	$	533,010.00	$	-	
11/01/28	$	-	$	-	$	533,010.00	$	1,286,020.00	
05/01/29	$	16,635,000.00	$	235,000.00	$	527,322.50	$	-	
11/01/29	$	-	$	-	$	527,322.50	$	1,289,645.00	
05/01/30	$	16,390,000.00	$	245,000.00	$	521,322.50	$	-	
11/01/30	$	-	$	-	$	521,322.50	$	1,287,645.00	
05/01/31	$	16,130,000.00	$	260,000.00	$	514,230.00	$	-	
11/01/31	$	-	$	-	$	514,230.00	$	1,288,460.00	
05/01/32	$	15,855,000.00	$	275,000.00	$	505,937.50	$	-	
11/01/32	$	-	$	-	$	505,937.50	$	1,286,875.00	
05/01/33	$	15,560,000.00	$	295,000.00	$	497,102.50	$	-	
11/01/33	$	-	$	-	$	497,102.50	$	1,289,205.00	
05/01/34	$	15,250,000.00	$	310,000.00	$	487,725.00	$	-	
11/01/34	$	-	$	-	$	487,725.00	$	1,285,450.00	
05/01/35	$	14,920,000.00	$	330,000.00	$	477,805.00	$	-	
11/01/35	$	-	$	-	$	477,805.00	$	1,285,610.00	
05/01/36	$	14,565,000.00	$	355,000.00	$	467,187.50	$	-	
11/01/36	$	-	$	-	$	467,187.50	$	1,289,375.00	
05/01/37	$	14,190,000.00	$	375,000.00	$	455,872.50	$	-	
11/01/37	$	-	$	-	$	455,872.50	$	1,286,745.00	
05/01/38	$	13,790,000.00	$	400,000.00	$	443,860.00	$	-	
11/01/38	$	-	$	-	$	443,860.00	$	1,287,720.00	
05/01/39	$	13,365,000.00	$	425,000.00	$	431,072.50	$	-	
11/01/39	$	-	$	-	$	431,072.50	$	1,287,145.00	
05/01/40	$	12,910,000.00	$	455,000.00	$	417,432.50	$	-	
11/01/40	$	-	$	-	$	417,432.50	$	1,289,865.00	
05/01/41	$	12,430,000.00	$	480,000.00	$	402,940.00	$	-	
11/01/41	$	-	$	-	$	402,940.00	$	1,285,880.00	
05/01/42	$	11,915,000.00	$	515,000.00	$	387,517.50	$	-	
11/01/42	$	-	$	-	$	387,517.50	$	1,290,035.00	
05/01/43	$	11,370,000.00	$	545,000.00	$	371,087.50	$	-	
11/01/43	$	-	$	-	$	371,087.50	$	1,287,175.00	
05/01/44	$	10,790,000.00	$	580,000.00	$	353,650.00	$	-	
11/01/44	$	-	$	-	$	353,650.00	$	1,287,300.00	
05/01/45	$	10,170,000.00	$	620,000.00	$	335,050.00	$	-	
11/01/45	$	-	$	-	$	335,050.00	$	1,290,100.00	
05/01/46	$	9,510,000.00	$	660,000.00	$	314,880.00	$	-	
11/01/46	$	-	$	-	$	314,880.00	$	1,289,760.00	
05/01/47	$	8,810,000.00	$	700,000.00	$	293,120.00	$	-	
11/01/47	$	-	$	-	$	293,120.00	$	1,286,240.00	
05/01/48	$	8,060,000.00	$	750,000.00	$	269,920.00	$	-	
11/01/48	$	-	$	-	$	269,920.00	$	1,289,840.00	
05/01/49	$	7,265,000.00	$	795,000.00	$	245,200.00	$	-	
11/01/49	$	-	$	-	$	245,200.00	$	1,285,400.00	
05/01/50	$	6,415,000.00	$	850,000.00	$	218,880.00	$	-	
11/01/50	$	-	$	-	$	218,880.00	$	1,287,760.00	
05/01/51	$	5,510,000.00	$	905,000.00	$	190,800.00	$	-	
11/01/51	$	-	$	-	$	190,800.00	$	1,286,600.00	
05/01/52	$	4,545,000.00	$	965,000.00	$	160,880.00	$	-	
11/01/52	$	-	$	-	$	160,880.00	$	1,286,760.00	
05/01/53	$	3,515,000.00	$	1,030,000.00	$	128,960.00			
11/01/53	$	-	$	-	$	128,960.00	$	1,287,920.00	
05/01/54	$	2,415,000.00	$	1,100,000.00	$	94,880.00			
11/01/54	$	-	$	-	$	94,880.00	$	1,289,760.00	
05/01/55	$	1,245,000.00	$	1,170,000.00	$	58,560.00			
11/01/55	$	-	$	-	$	58,560.00	$	1,287,120.00	
05/01/56	$	-	$	1,245,000.00	$	19,920.00			
11/01/56	$	-	$
$	-
17,300,000.00	$
$	19,920.00
22,561,320.56	$
$	1,284,840.00
39,861,320.56