Waterstone	
Community Development District	

Approved Proposed Budget	
FY 2027	

Table of Contents

1-2

3-7

8

	General Fund

	Narratives

	Debt Service Fund Series 2018

9		Assessment Schedule

Waterstone	
Community Development District	
Approved Proposed Budget	
General Fund	

REVENUES:

Special Assessments - On Roll	$	902,805	$	907,733	$	-	$	907,733	$	902,805	
Interest income	25,000	26,100	6,000	32,100	20,000	
Clubhouse Income	1,000	4,250	-	4,250	1,000	
Carry Forward Surplus	-	583,684	-	583,684	175,001	

TOTAL REVENUES	$	928,805	$  1,521,767	$	6,000	$  1,527,767	$  1,098,806	

EXPENDITURES:

Administrative						
Supervisor Fees	$	2,400	$	-	$	-	$	-	$	2,400	
FICA Taxes	184	-	-	-	184	
Engineering	20,000	15,604	4,396	20,000	20,000	
Attorney	20,000	15,625	10,000	25,625	20,000	
Annual Audit	4,300	4,300	-	4,300	4,400	
Assessment Administration	2,120	2,120	-	2,120	2,247	
Arbitrage Rebate	550	550	-	550	550	
Dissemination Agent	4,000	4,000	-	4,000	4,000	
Trustee Fees	7,600	8,697	-	8,697	8,700	
Management Fees	45,016	33,762	11,254	45,016	47,717	
Information Technology	1,134	851	284	1,134	1,202	
Website Maintenance	1,701	1,276	426	1,701	1,803	
Telephone	50	-	25	25	50	
Postage & Delivery	200	1,346	-	1,346	1,000	
Insurance General Liability	9,119	8,121	-	8,121	8,933	
Printing & Binding	300	202	98	300	1,000	
Legal Advertising	1,000	1,227	1,072	2,299	1,000	
Other Current Charges	569	894	300	1,194	850	
Office Supplies	50	39	11	50	50	
Dues, Licenses & Subscriptions	175	175	-	175	175	

TOTAL ADMINISTRATIVE	$	120,468	$	98,788	$	27,866	$	126,654	$	126,261	

Operations & Maintenance

Field Expenditures

Field Management	$	10,000	$	7,500	$	2,500	$	10,000	$	10,000	
Security Monitoring	-	10,713	10,611	21,325	22,445	
Electric Streetlights	45,000	33,437	11,700	45,137	48,000	
Electric Pumps/Well/Guardhouse	2,400	1,387	413	1,800	2,400	
Landscape Maintenance	197,310	135,608	45,203	180,810	197,310	
Tree Service	15,000	16,399	-	16,399	15,000	
Lake Maintenance	27,380	20,734	6,911	27,646	27,646	
Irrigation Repairs	10,000	3,858	6,142	10,000	10,000	
Repairs and Maintenance	10,428	2,481	7,519	10,000	10,000	
Street Maintenance	10,000	22,888	-	22,888	10,000	

Waterstone	
Community Development District	
Approved Proposed Budget	
General Fund	

Field Expenditures (continued)						
Sign Maintenance	$	5,000	$	1,100	$	3,900	$	5,000	$	5,000	
Gate Maintenance	10,000	-	10,000	10,000	10,000	
Fence Maintenance	10,000	-	10,000	10,000	10,000	
Preserve Maintenance	10,171	-	-	-	-	
Trash Collection	-	1,134	3,402	4,536	3,291	
Contingency	5,000	9,358	10,000	19,358	5,000	
Capital Outlay	-	115,670	-	115,670	-	
Reserves - Roadway Improvements	100,000	238,577	-	238,577	100,000	
Reserves	165,000	-	165,000	165,000	165,000	

TOTAL FIELD EXPENDITURES	$	632,689	$	620,844	$	293,301	$	914,145	$	651,092	

Recreation Building

Amenity Management	$	8,000	$	46,800	$	15,600	62,400	$	62,400	
Security System	8,020	6,227	1,793	8,020	8,020	
Security Service	-	30,049	9,263	39,312	39,312	
Electric Rec Building	14,800	10,421	3,000	13,421	14,800	
Water/Sewer	1,200	4,333	2,000	6,333	3,500	
Building Insurance	14,068	13,169	-	13,169	14,486	
Pool Maintenance	32,600	20,700	6,900	27,600	27,600	
Pool Repair	5,000	11,782	5,000	16,782	10,000	
Equipment Maintenance	5,000	420	4,580	5,000	5,000	
Janitorial Maintenance	23,400	44,942	21,699	66,641	76,000	
Repairs and Maintenance	5,000	5,699	5,000	10,699	10,000	
Sporting Courts Maintenance	7,700	3,850	3,850	7,700	7,700	
Playground Maintenance	23,200	9,900	3,300	13,200	23,200	
R&M Pool Heater/Pump	3,000	-	3,000	3,000	3,000	
Pest Control	960	744	240	984	1,320	
Licenses, Permits, Fees	300	325	-	325	300	
Contingency	8,400	7,382	-	7,382	4,815	
Capital Outlay	5,000	-	-	-	-	
Reserve	10,000	-	10,000	10,000	10,000	

TOTAL RECREATION BUILDING	$	175,648	$	216,742	$	95,225	$	311,967	$	321,453	

TOTAL EXPENDITURES	$	928,805	$	936,374	$	416,392	$  1,352,766	$  1,098,806	

EXCESS REVENUES (EXPENDITURES)	$	-	$	585,393	$	(410,392)	$	175,001	$	-	

FY 2027	FY 2027	FY2026	Increase /	
Description	Units On roll	Total Gross	Gross per unit	Gross per unit	(decrease)	

Townhomes 35'	86	$117,212.00	$1,362.93	$1,362.93	$0.00	
Townhomes 40'	90	$122,663.72	$1,362.93	$1,362.93	$0.00	
Single Family 47'	133	$181,269.72	$1,362.93	$1,362.93	$0.00	
Single Family 52'	146	$198,987.82	$1,362.93	$1,362.93	$0.00	
Single Family 62'	168	$228,972.28	$1,362.93	$1,362.93	$0.00	
Single Family 72'		97		$132,204.23	$1,362.93	$1,362.93	$0.00	
Total	720	$981,309.78				
Gross assessments			$981,309.78				
Net assessments		$902,805.00				

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. The assessments are placed on the St Lucie County tax roll.	
Interest	
The District earns interest on the monthly average collected balance for each of their investment accounts.	
Clubhouse Income	
Represents income from clubhouse rentals.	

Expenditures - Administrative	

Supervisors Fees	
Chapter 190 of the Florida Statutes allows for members of the Board of Supervisors to be compensated
$200 per meeting in which they attend.	
FICA Taxes	
Payroll taxes on Board of Supervisor’s compensation. The budgeted amount for the fiscal year is calculated at 7.65% of the total Board of Supervisor’s payroll expenditures.	
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.	
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.	
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.	
Communication - Telephone	
New internet and Wi-Fi service for Office.	

Expenditures - Administrative (continued)	
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.	

Expenditures – Field	

Field Management				
The District has an agreement with CALM II to provide field operation management to the property and its contractors.	
Description	Vendor	Amount	Total	
Field operations	CALM II	833	10,000	
Security Monitoring				
The District has an agreement with St Moritz Security Services, Inc. to monitor the entrance.	
Description	Vendor	Amount	Total	
Licesing monitoring	St Moritz Security	1,621	19,456	
Preventative maintenance	St Moritz Security 		249		2,989	
		1,870	22,445	
Electric Streetlights				
FPL provides electricity for street 68 lights within the District.	
Location	Vendor	Amount	Total	
8800 Waterstone Blvd	FPL	4,000	48,000	
Electric Pumps/Wells/Guardhouse				
FPL provides electricity for the pumps, wells, and guardhouse within the District.	
Location	Vendor	Amount	Total	
8851 Waterstone Blvd #PMPC	FPL	75	900	
8870 Waterstone Blvd # Well2	FPL	33	400	
8851 Waterstone Blvd # PMPB	FPL	33	400	
8800 Waterstone Blvd # Guard	FPL	58		700	
	Total	200	2,400	

Expenditures – Field (continued)	
Landscape Maintenance				
The district has currently an agreement with Down to Earth to provide mowing, edging, finishing trimming, clean up, trimming/pruning, weeding and fertilization and irrigation maintenance. Re-mulching and annuals are separate fees.	
Description	Vendor	Amount	Total	
Mowing monthly	Down to Earth	15,068	180,810	
Mulch	Down to Earth	9,000	9,000	
Annuals	Down to Earth	7,500		7,500	
		Total	197,310	
Tree Service				
The district is currently contracting Down to Earth. to trim once per year 180 Palm and 55 Oak trees.	
Lake Maintenance				
Represents the maintenance of the (14) fourteen lakes within the District. The district has currently an agreement with Solitude Lakes Management to provide aquatic week control. Includes 3% increase.	
Description	Vendor	Amount	Total	
Aquatic control	Solitude Lakes Mgmt.	2,304	27,646	
Irrigation Repairs				
Represents the repair of the irrigation system within the District.	
Repairs & Maintenance				
Represents any expenditures such as repairs and maintenance the District may need to make during the Fiscal Year.	
Street Maintenance				
Represents the maintenance of the streets within the District.	
Sign Maintenance				
Represents estimated cost for repairing or replacing street and amenities signage.	
Gate Maintenance				
Represents the maintenance of the gates within the District.	
Fence Maintenance				
Represents the maintenance of the fences within the District.	
Preserve Maintenance				
Represents protection costs of wetlands, waterways, and preserves within the District. Currently has an agreement with Solitude Lake Management to provide control of nuisance & exotic within 3 ea. located within projected area for a monthly fee $950. The district will stock the lakes with fish with additional cost.	
Trash Collection				
The District has a service agreement with Waste Pro to collect trash one a week for 2 dumpster.	
Description	Vendor	Amount	Total	
2 Dumpster	Waste Pro	91	1,097	
4 Dumpsters	Waste Pro	183		2,194	
	Total		3,291	
Contingency			
Represents any additional expenditures that are not mentioned above.			
Preserves-Roadways Improvements			
Represents improvements to the district roadways			
Reserves			
Building reserves for future improvements.			

Expenditures – Recreational Building	

Amenity Management				
The District has an agreement with CALM to provide field operation management to the Amenity.	
Description	Vendor	Amount	Total	
Amenity Management	CALM	5,200	62,400	
Security System				
The district has a contract with Pye Barker to provide inspection and maintenance of the fire sprinkler system and cell charges at the recreational building and monitor the pickelball and tennis courts.	
Description	Vendor	Quarterly	Total	
Burg Monitoring Radio/Acess	PYE Barker Fire	232	926	
PDK cloud service Pickelball/tennis	PYE Barker Fire	48	192	
Fobs	PYE Barker Fire		4,400	
Contingency	PYE Barker Fire			2,502	
		Total	8,020	
Security Service				
The district has a contract with All Florida Security Services to provide safeguarding repsonsibilites but not limited to maintain a visible presence at the pool entrance, fence-line and clubhouse to deter unwanted behavior	
Description	Vendor	weekly	Total	
3 days for 8 - 10 hours	All Florida Security	756	39,312	
Electric Rec Building				
FPL provides electricity for the recreational building and playground light and pump.	
Location	Vendor	Amount	Total	
8851 Waterstone Blvd	FPL	1,033	12,400	
8851 Waterstone Blvd# Pump B	FPL	200		2,400	
		Total	14,800	
Water/Sewer				
Represents Water and Sewer services provided by St. Lucie County Utilities.	
Location	Vendor	Amount	Total	
8851 Waterstone Blvd	St Lucie County	292	3,500	
Building Insurance				
The District will bind Property Insurance with a firm that specializes in providing insurance coverage to governmental agencies.	
Pool Maintenance				
The district has a contract with Sandy Gordon to provide test water each visit for cloring, calcium hardness, vacuum brush interior floors and walls, clean interior walls, skim water surface, clean pump strainer, backwash filter system as needed, provide chemicals.	
Description	Vendor	Amount	Total	
Pool Maintenance	Sandy Gordon	2,300	27,600	
Pool Repair				
The district has a contract with Sandy Gordon to maintain and repair pool.	
Description	Vendor	Amount	Total	
Pool Repair	Sandy Gordon	-	10,000	
Equipment Maintenance				
The district has a contract with T.C.A Fitness Service providing preventive maintenance and repairs to the recreational equipment’s.	

Expenditures – Recreational Building (continued)	
Janitorial Maintenance				
The district has a contract with CALM to provide cleaning of the recreational building 4 days per week. Cleaning clubhouse, bathrooms, floors, glass doors, empty trash, disinfect tables, chairs, vacuum carpeted areas, clean non exterior windows. $75 per hour.	
Description	Vendor	Amount	Total	
Clubhouse cleaning	CALM	6,333	76,000	
Sporting Courts Maintenance				
The District contracted Hanna Painting Pluss LLC to pressure wash and repairs of basketball, tennis courts within the District.	
Description	Vendor	Semi-annual	Total	
Pressure wash	Hanna	3,850	7,700	
Playground Maintenance				
The district has currently a contract with Hanna Painting Plus LLC to pressure wash playground, benches & picnic tables, concrete slab under tables, mailbox structure, clubhouse, and pool deck/walkway pavers.	
Description	Vendor	Quarterly	Total	
Pressure wash quarterly	Hanna	3,300	13,200	
Mulch	Down to Earth	10,000		10,000	
		Total	23,200	
R&M Pool Heating /Pump				
Repairs and maintenance to pool heater and pump.	
Pest Control				
The district has an agreement with Reynolds Pest Management to provide pest control for ants, roaches, and spiders.	
Description	Vendor	Amount	Total	
Pest Control	Reynolds Pest Mgmt.	110	1,320	
Licenses, Permits, Fees		
Represents pool licenses and inspections on an annual basis.		
Contingency		
Represents any additional expenditures that are not mentioned above.		
Capital Outlay		
Represents any additional assets purchased		
Reserves		
Building reserves for the recreational building future improvements.		

Waterstone	
Community Development District	
Approved Proposed Budget	
Debt Service Series 2018A/B Capital Appreciation Bonds	

Adopted Budget	
Actuals Thru	
Projected Next	
Projected Thru	Approved Proposed
Budget	
Description	FY2026	6/30/26	3 Months	9/30/26	FY 2027	

REVENUES:

Special Assessments-On Roll	$	546,355	$	443,778	$	-	$	443,778	$	545,662	
Special Assessments - Estoppels	-	40,753	-	40,753	-	
Special Assessments - Prepayments B	-	1,560,111	(17,751)	1,542,360	-	
Special Assessments - Prepayments A	-	5,546	-	5,546	-	
Interest Earnings	30,000	70,846	10,000	80,846	30,000	
Carry Forward Surplus (1)	1,172,820	2,286,873	-	2,286,873	1,612,509	

TOTAL REVENUES	$  1,749,176	$  4,407,906	$	(7,751)	$	4,400,155	$  2,188,171	

EXPENDITURES:

Series 2018 B						
Special Call 11/1	$	-	$	951,460	$	-	$	951,460	$	-	
Special Call 2/1	-	752,649	-	752,649	-	
Special Call 5/1	-	737,382	-	737,382		
Special Call 8/1		-	346,155	346,155		

TOTAL EXPENDITURES	$	-	$  2,441,491	$	346,155	$	2,787,646	$	-	

Other Sources/(Uses)

Interfund transfer In/(Out)	$	-	$	-	$	-	$	-	$	-	

TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	

TOTAL EXPENDITURES	$	-	$  2,441,491	$	346,155	$	2,787,646	$	-	

EXCESS REVENUES (EXPENDITURES)	$  1,749,176	$  1,966,415	$	(353,906)	$	1,612,509	$  2,188,171	

(1) Carry Forward is Net of Reserve Requirement

FY 2027	FY 2027	FY2026	Increase /	
Description	Units On roll	Total Gross	Gross per unit	Gross per unit	(decrease)	

Townhomes 35'	82	$45,996.26	$560.93	$560.93	$0.00	
Townhomes 40'	86	$55,181.90	$641.65	$641.65	$0.00	
Single Family 47'	132	$99,533.28	$754.04	$754.04	$0.00	
Single Family 52'	136	$113,388.64	$833.74	$833.74	$0.00	
Single Family 62'	168	$167,017.20	$994.15	$994.15	$0.00	
Single Family 72'	97		$111,993.29		$1,154.57		$1,154.57		$0.00	
Total	701	$593,110.57				

Gross assessments		$593,110.57	
Net assessments	$545,661.72	

Waterstone	
Community Development District	
Non-Ad Valorem Assessments Comparison	
2026-2027	

Neighborhood	O&M Units	Bonds 2018
Units	
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 35'	

86	

82	

$1,362.93	

$1,362.93	

$0.00	

$560.93	

$560.93	

$0.00	

$1,923.86	

$1,923.86	

$0.00	
Townhomes 40'	90	86	$1,362.93	$1,362.93	$0.00	$641.65	$641.65	$0.00	$2,004.58	$2,004.58	$0.00	
Single Family 47'	133	132	$1,362.93	$1,362.93	$0.00	$754.04	$754.04	$0.00	$2,116.97	$2,116.97	$0.00	
Single Family 52'	146	136	$1,362.93	$1,362.93	$0.00	$833.74	$833.74	$0.00	$2,196.67	$2,196.67	$0.00	
Single Family 62'	168	168	$1,362.93	$1,362.93	$0.00	$994.15	$994.15	$0.00	$2,357.08	$2,357.08	$0.00	
Single Family 72'	97	97	$1,362.93	$1,362.93	$0.00	$1,154.57	$1,154.57	$0.00	$2,517.50	$2,517.50	$0.00	
Total	720	701										

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