Kingman Gate	
Community Development District	

Proposed Budget	
FY 2025	

Table of Contents

1		General Fund	

2-3	
	Narratives	

4	
	Debt Service Fund Series 2020	

5	
	Series 2020 Amortization Schedule	

6	
	Debt Service Fund Series 2021	

7	
	Series 2021 Amortization Schedule	

8	
	Assessment Schedule	

Kingman Gate	
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	$	180,950	$168,442	$12,508	$180,950	$192,936	
Developer Funding	12,690	900,000	56,855	956,855	-	
Carry Forward Surplus	-	-	-	-	3,029	
TOTAL REVENUES	$193,640	$1,068,442	$69,363	$1,137,805	$195,965	

EXPENDITURES:

Administrative						
Engineering	$	10,000	$	315	$	6,667	$	6,982	$	10,000	
Attorney	20,000	5,411	10,821	16,232	16,000	
Annual Audit	5,700	5,700	-	5,700	5,800	
Arbitrage Rebate	1,100	-	1,100	1,100	1,100	
Dissemination Agent	4,500	1,875	2,625	4,500	5,500	
Assessment Roll	4,000	4,000	-	4,000	4,000	
Trustee Fees	8,200	6,061	2,139	8,200	8,200	
Management Fees	39,000	16,250	22,750	39,000	40,950	
Website Maintenance	1,200	500	700	1,200	1,260	
Telephone	50	-	50	50	50	
Postage & Delivery	750	53	500	553	750	
Insurance General Liability	6,400	5,786	-	5,786	6,720	
Printing & Binding	1,000	14	-	14	100	
Legal Advertising	2,500	-	1,667	1,667	2,500	
Other Current Charges	750	-	500	500	750	
Office Supplies	150	0	150	150	150	
Dues, Licenses & Subscriptions	175	175	-	175	175	

TOTAL ADMINISTRATIVE	$105,475	$46,139	$49,668	$95,807	$104,005	
Operations & Maintenance
Field Expenditures

Field Services	$12,000	$5,000	$7,000	$12,000	$12,600	
Landscape Maintenance	52,000	8,437	29,122	37,559	52,000	
Plant Replacement	10,000	-	10,000	10,000	8,000	
Lake Maintenance	8,300	1,250	7,050	8,300	8,300	
Lake Debris Removal	2,000	-	2,000	2,000	2,000	
Contingency	3,865	10,000	2,255	12,255	9,060	
Capital Outlay	-	851,258	105,598	956,855	-	

TOTAL FIELD EXPENDITURES	$88,165	$875,945	$163,024	$1,038,969	$91,960	

TOTAL EXPENDITURES	$193,640	$922,083	$212,693	$1,134,776	$195,965	

EXCESS REVENUES (EXPENDITURES)	$-	$146,359	$(143,330)	$3,029	$	0	

Kingman Gate	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

REVENUES	

Special Assessments-Tax 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.	
Developer Funding	
The developer will fund for 54 units that have not been added to the district yet.	

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 Roll 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 annually have an arbitrage rebate calculation on the District's Series 2016 Special Assessment Bonds. The District will contract with an independent certified public accounting firm to calculate the rebate liability and submit a report to the District.	
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.	

Kingman Gate	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

Expenditures - Administrative (continued)	
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.	
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 Department of Economic Opportunity Community Affairs for $175.	

Expenditures – Field	
Field Management	
The supervision and reporting to the Board of Supervisors of the field maintenance services as provided by the different vendors.	
Landscape Maintenance	
Landscaping of the common area. Includes grass cutting, pest control, fertilization, mulching, pruning and porter service.	
Plants Replacement	
The District will go into contract for the replacement of plants needed along the common areas.	
Lake Maintenance	
The maintenance of CDD owned lakes.	
Lake Debris Removal	
Includes cleaning of lake shorelines of any debris.	
Contingency	
Includes any miscellaneous expense related to the maintenance of the common areas.	
Capital Outlay	
Represents any minor or major capital expenditures the District may need to make during the Fiscal Year.	

Kingman Gate	
Community Development District	
Proposed Budget	
Debt Service Series 2020 Special Assessment Bonds	

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	$468,738	$436,335	$32,403	$468,738	$468,738	
Interest Earnings	3,000	9,309	11,636	20,946	5,000	
Carry Forward Surplus (1)	188,115	181,426	-	181,426	199,986	

TOTAL REVENUES	$659,853	$627,070	$44,039	$671,109	$673,724	

EXPENDITURES:

Interest 12/15	$148,200	$148,200	$-	$148,200	$145,863	
Interest 06/15	148,200	-	148,200	148,200	145,863	
Principal 06/15	170,000	-	170,000	170,000	175,000	

TOTAL EXPENDITURES	$466,400	$148,200	$318,200	$466,400	$466,725	

Other Sources/(Uses)

Interfund transfer In/(Out)	$-	$(4,723)	-	(4,723)	$-	

TOTAL OTHER SOURCES/(USES)	$-	$(4,723)	$-	$(4,723)	$-	

TOTAL EXPENDITURES	$466,400	$152,923	$318,200	$471,123	$466,725	

EXCESS REVENUES (EXPENDITURES)	$193,453	$474,147	$(274,161)	$199,986	$206,999	

Interest Due 12/15/25	$143,456.25	
		$143,456.25 	

(1) Carry Forward is Net of Reserve Requirement

Kingman Gate	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2020 Special Assessment Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

12/15/24	7,560,000	2.750%	-	145,863	466,725.00	
06/15/25	7,560,000	2.750%	175,000	145,863		
12/15/25	7,385,000	2.750%	-	143,456	466,912.50	
06/15/26	7,385,000	3.125%	180,000	143,456		
12/15/26	7,205,000	3.125%	-	140,644	471,287.50	
06/15/27	7,205,000	3.125%	190,000	140,644		
12/15/27	7,015,000	3.125%	-	137,675	470,350.00	
06/15/28	7,015,000	3.125%	195,000	137,675		
12/15/28	6,820,000	3.125%	-	134,628	469,256.25	
06/15/29	6,820,000	3.125%	200,000	134,628		
12/15/29	6,620,000	3.125%	-	131,503	468,006.25	
06/15/30	6,620,000	3.125%	205,000	131,503		
12/15/30	6,415,000	3.125%	-	128,300	471,600.00	
06/15/31	6,415,000	4.000%	215,000	128,300		
12/15/31	6,200,000	4.000%	-	124,000	473,000.00	
06/15/32	6,200,000	4.000%	225,000	124,000		
12/15/32	5,975,000	4.000%	-	119,500	469,000.00	
06/15/33	5,975,000	4.000%	230,000	119,500		
12/15/33	5,745,000	4.000%	-	114,900	469,800.00	
06/15/34	5,745,000	4.000%	240,000	114,900		
12/15/34	5,505,000	4.000%	-	110,100	470,200.00	
06/15/35	5,505,000	4.000%	250,000	110,100		
12/15/35	5,255,000	4.000%	-	105,100	470,200.00	
06/15/36	5,255,000	4.000%	260,000	105,100		
12/15/36	4,995,000	4.000%	-	99,900	469,800.00	
06/15/37	4,995,000	4.000%	270,000	99,900		
12/15/37	4,725,000	4.000%	-	94,500	474,000.00	
06/15/38	4,725,000	4.000%	285,000	94,500		
12/15/38	4,440,000	4.000%	-	88,800	472,600.00	
06/15/39	4,440,000	4.000%	295,000	88,800		
12/15/39	4,145,000	4.000%	-	82,900	470,800.00	
06/15/40	4,145,000	4.000%	305,000	82,900		
12/15/40	3,840,000	4.000%	-	76,800	473,600.00	
06/15/41	3,840,000	4.000%	320,000	76,800		
12/15/41	3,520,000	4.000%	-	70,400	470,800.00	
06/15/42	3,520,000	4.000%	330,000	70,400		
12/15/42	3,190,000	4.000%	-	63,800	472,600.00	
06/15/43	3,190,000	4.000%	345,000	63,800		
12/15/43	2,845,000	4.000%	-	56,900	473,800.00	
06/15/44	2,845,000	4.000%	360,000	56,900		
12/15/44	2,485,000	4.000%	-	49,700	474,400.00	
06/15/45	2,485,000	4.000%	375,000	49,700		
12/15/45	2,110,000	4.000%	-	42,200	474,400.00	
06/15/46	2,110,000	4.000%	390,000	42,200		
12/15/46	1,720,000	4.000%	-	34,400	473,800.00	
06/15/47	1,720,000	4.000%	405,000	34,400		
12/15/47	1,315,000	4.000%	-	26,300	472,600.00	
06/15/48	1,315,000	4.000%	420,000	26,300		
12/15/48	895,000	4.000%	-	17,900	475,800.00	
06/15/49	895,000	4.000%	440,000	17,900		
12/15/49	455,000	4.000%	-	9,100	473,200.00	
06/15/50	455,000	4.000%	455,000	9,100		
Total			$7,560,000	$4,698,538	$12,258,538	

Kingman Gate	
Community Development District	
Proposed Budget	
Debt Service Series 2021 Special Assessment Bonds	

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	$438,603	$408,283	$30,320	$438,603	$438,603	
Interest Earnings	3,000	8,737	12,231	20,968	5,000	
Carry Forward Surplus (1)	199,079	170,599	-	170,599	186,214	

TOTAL REVENUES	$640,682	$587,619	$42,551	$630,169	$629,816	

EXPENDITURES:

Interest 12/15	$137,268	$137,268	$-	$137,268	$135,206	
Interest 06/15	137,268	-	137,268	137,268	135,206	
Principal 06/15	165,000	-	165,000	165,000	170,000	

TOTAL EXPENDITURES	$439,536	$137,268	$302,268	$439,536	$440,411	
Other Sources/(Uses)

Interfund transfer In/(Out)	$-	$(4,420)	-	(4,420)	$-	

TOTAL OTHER SOURCES/(USES)	$-	$(4,420)	$-	$(4,420)	$-	

TOTAL EXPENDITURES	$439,536	$141,688	$302,268	$443,956	$440,411	

EXCESS REVENUES (EXPENDITURES)	$201,146	$445,931	$(259,717)	$186,214	$189,405	

Interest Due 12/15/25	$133,080.63	
		$133,080.63 	

(1) Carry Forward is Net of Reserve Requirement

Kingman Gate	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2021 Special Assessment Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

12/15/24	7,340,000	2.500%	-	135,206		
06/15/25	7,340,000	2.500%	170,000	135,206	440,411.25	
12/15/25	7,170,000	2.500%	-	133,081		
06/15/26	7,170,000	2.500%	170,000	133,081	436,161.25	
12/15/26	7,000,000	2.500%	-	130,956		
06/15/27	7,000,000	3.125%	175,000	130,956	436,911.25	
12/15/27	6,825,000	3.125%	-	128,221		
06/15/28	6,825,000	3.125%	185,000	128,221	441,442.50	
12/15/28	6,640,000	3.125%	-	125,331		
06/15/29	6,640,000	3.125%	190,000	125,331	440,661.25	
12/15/29	6,450,000	3.125%	-	122,362		
06/15/30	6,450,000	3.125%	195,000	122,362	439,723.75	
12/15/30	6,255,000	3.125%	-	119,315		
06/15/31	6,255,000	3.125%	200,000	119,315	438,630.00	
12/15/31	6,055,000	3.125%	-	116,190		
06/15/32	6,055,000	3.600%	210,000	116,190	442,380.00	
12/15/32	5,845,000	3.600%	-	112,410		
06/15/33	5,845,000	3.600%	215,000	112,410	439,820.00	
12/15/33	5,630,000	3.600%	-	108,540		
06/15/34	5,630,000	3.600%	225,000	108,540	442,080.00	
12/15/34	5,405,000	3.600%	-	104,490		
06/15/35	5,405,000	3.600%	230,000	104,490	438,980.00	
12/15/35	5,175,000	3.600%	-	100,350		
06/15/36	5,175,000	3.600%	240,000	100,350	440,700.00	
12/15/36	4,935,000	3.600%	-	96,030		
06/15/37	4,935,000	3.600%	250,000	96,030	442,060.00	
12/15/37	4,685,000	3.600%	-	91,530		
06/15/38	4,685,000	3.600%	260,000	91,530	443,060.00	
12/15/38	4,425,000	3.600%	-	86,850		
06/15/39	4,425,000	3.600%	265,000	86,850	438,700.00	
12/15/39	4,160,000	3.600%	-	82,080		
06/15/40	4,160,000	3.600%	275,000	82,080	439,160.00	
12/15/40	3,885,000	3.600%	-	77,130		
06/15/41	3,885,000	3.600%	285,000	77,130	439,260.00	
12/15/41	3,600,000	3.600%	-	72,000		
06/15/42	3,600,000	4.000%	300,000	72,000	444,000.00	
12/15/42	3,300,000	4.000%	-	66,000		
06/15/43	3,300,000	4.000%	310,000	66,000	442,000.00	
12/15/43	2,990,000	4.000%	-	59,800		
06/15/44	2,990,000	4.000%	325,000	59,800	444,600.00	
12/15/44	2,665,000	4.000%	-	53,300		
06/15/45	2,665,000	4.000%	335,000	53,300	441,600.00	
12/15/45	2,330,000	4.000%	-	46,600		
06/15/46	2,330,000	4.000%	350,000	46,600	443,200.00	
12/15/46	1,980,000	4.000%	-	39,600		
06/15/47	1,980,000	4.000%	365,000	39,600	444,200.00	
12/15/47	1,615,000	4.000%	-	32,300		
06/15/48	1,615,000	4.000%	380,000	32,300	444,600.00	
12/15/48	1,235,000	4.000%	-	24,700		
06/15/49	1,235,000	4.000%	395,000	24,700	444,400.00	
12/15/49	840,000	4.000%	-	16,800		
06/15/50	840,000	4.000%	410,000	16,800	443,600.00	
12/15/50	430,000	4.000%	-	8,600		
06/15/51	430,000	4.000%	430,000	8,600	447,200.00	
Total			$7,340,000	$4,579,541	$11,919,541	

Kingman Gate	
Community Development District	
Non-Ad Valorem Assessments Comparison	
2024-2025	

Neighborhood	O&M Units	Bonds
Units 2020	Bonds
Units 2021	Bonds Units
2024	Annual Maintenance Assessments	Annual Debt Assessments	Total Assessed Per Unit	
	
FY 2025	
FY2024	Increase/ (decrease)	
FY 2025	
FY2024	Increase/ (decrease)	
FY 2025	
FY2024	Increase/ (decrease)	
								Series 2020	Series 2021	Series 2020	Series 2021					
Single Family	168	117	0	51	$247.37	$247.37	$0.00	$1,350.62	$0.00	$1,350.62	$0.00	$0.00	$1,597.99	$1,597.99	$0.00	
Townhomes	349	142	207	0	$247.37	$247.37	$0.00	$1,269.58	$1,260.79	$1,269.58	$1,260.79	$0.00	$2,777.74	$2,777.74	$0.00	
Villas	304	132	172	0	$247.37	$247.37	$0.00	$1,175.04	$1,166.88	$1,175.04	$1,166.88	$0.00	$2,589.29	$2,589.29	$0.00	
Total	821	391	379	51												

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