Solterra	
Community Development District	

Adopted Budget	
FY 2025	

Table of Contents

	General Fund

	Narratives

	Debt Service Fund Series 2023-1 Notes

	Series 2023-1 Notes Amortization Schedule

	Debt Service Fund Series 2024 Notes

	Series 2024 Notes Amortization Schedule

Solterra	
Community Development District	
Adopted Budget	
General Fund	

Adopted Budget	
Actuals Thru	
Projected Next	
Projected Thru	Adopted Budget	
Description	FY2024	5/31/24	4 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments - Direct	$99,925	$51,002	$37,161	$88,163	$103,749	
Misc Income	-	459	-	459	-	

TOTAL REVENUES	$99,925	$51,461	$37,161	$88,622	$103,749	

EXPENDITURES:

Administrative:						
Engineer Fees	$10,900	$392	$1,000	$1,392	$10,900	
Attorney	20,000	11,293	8,066	19,359	20,000	
Annual Audit	6,300	7,900	-	7,900	8,100	
Assessment Administration	5,000	-	-	-	5,000	
Arbitrage Rebate	550	-	-	-	550	
Dissemination Agent	2,500	-	-	-	2,500	
Trustee Fees	6,000	-	-	-	6,000	
Management Fees	36,000	24,000	12,000	36,000	38,520	
Website Administration	1,500	1,000	500	1,500	1,605	
Telephone	-	-	-	-	-	
Postage & Delivery	750	9	50	59	500	
General Liability and Public Officials Insurance	6,000	5,590	-	5,590	6,149	
Printing & Binding	1,000	114	105	219	500	
Legal Advertising	2,500	529	1,750	2,279	2,500	
Other Current Charges	700	274	250	524	700	
Office Supplies	50	-	25	25	50	
Dues, Licenses & Subscriptions	175	175	-	175	175	
TOTAL ADMINISTRATIVE	$99,925	$51,276	$23,746	$75,022	$103,749	

TOTAL EXPENDITURES	$99,925	$51,276	$23,746	$75,022	$103,749	

EXCESS REVENUES (EXPENDITURES)	$-	$185	$13,415	$13,600	$-	

Solterra	
Community Development District	
Budget Narrative	
Fiscal Year 2025	

REVENUES

Special Assessments-Direct	
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.	

Expenditures - Administrative

District 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 Fees	
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.	
Annual Audit	
The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm.	
Assessment Roll Administration	
The costs associated with preparing, processing and administering the annual assessment place on the County’s tax roll.	
Arbitrage Rebate	
The District is required to have an annual arbitrage rebate calculation on the District’s Bonds. The District will contract with an independent auditing firm to perform the calculations.	
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 notes are held and administered by a Trustee at US Bank. This represents the trustee annual fee.	
District Management Fees	
The District receives Management, Accounting and Administrative services as part of a Management Agreement with 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.	
Postage and Delivery	
Mailing of agenda packages, overnight deliveries, correspondence, etc.	
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	
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	
Other Current Charges	
Bank charges and any other miscellaneous expenses that incurred 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 Commerce for $175. This is the only expense under this category for the District.	

Solterra	
Community Development District	
Adopted Budget	
Debt Service Series 2023-1 Special Assessment Notes	

Proposed Budget	
Actuals Thru	
Projected Next	
Projected Thru	Adopted Budget	
Description	FY2024	5/31/24	4 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments-Direct	$295,215	$202,760	$81,868	$284,628	$327,472	
Interest Earnings	407	541	50	591	-	
Carry Forward Surplus (1)	-	10,592	-	10,592	189	

TOTAL REVENUES	$295,622	$213,893	$81,918	$295,811	$327,661	

EXPENDITURES:

Series 2023-1						
Interest - 11/01	$50,018	$50,018	$-	$50,018	$81,868	
Interest - 02/01	81,868	81,868	-	81,868	81,868	
Interest - 05/01	81,868	81,868	-	81,868	81,868	
Interest - 08/01	81,868	-	81,868	81,868	81,868	

TOTAL EXPENDITURES	$295,622	$213,754	$81,868	$295,622	$327,472	

Other Sources/(Uses)

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

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

TOTAL EXPENDITURES	$295,622	$213,754	$81,868	$295,622	$327,472	

EXCESS REVENUES (EXPENDITURES)	$0	$139	$50	$189	$189	

Solterra	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2023-1 Special Assessment Notes	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

05/22/23	$7,100,000	6.500%	$-	$-	-	
08/01/23	7,100,000	6.500%	-	88,454		
11/01/23	7,100,000	6.500%	-	115,375	203,829.17	
02/01/24	7,100,000	6.500%	-	115,375	-	
05/01/24	7,100,000	6.500%	-	115,375	-	
08/01/24	7,100,000	6.500%	-	115,375	-	
11/01/24	7,100,000	6.500%	-	115,375	461,500.00	
02/01/25	7,100,000	6.500%	-	115,375	-	
05/01/25	7,100,000	6.500%	-	115,375		
08/01/25	7,100,000	6.500%	-	115,375	-	
11/01/25	7,100,000	6.500%	-	115,375	461,500.00	
02/01/26	7,100,000	6.500%	7,100,000	115,375	7,215,375.00	

Total	$7,100,000	$1,242,204	$8,342,204	

(1) Interest assumes full draw of bonds at current interest rate

Period	Outstanding
Balance	Coupons	Principal	Interest	Annual Debt
Service	

05/22/23	$2,938,029	6.500%	$-	$-	-	
08/01/23	2,938,029	6.500%	-	35,542		
11/01/23	5,038,029	6.500%	-	50,018	85,559.96	
02/01/24	5,038,029	6.500%	-	81,868	-	
05/01/24	5,038,029	6.500%	-	81,868	-	
08/01/24	5,038,029	6.500%	-	81,868	-	
11/01/24	5,038,029	6.500%	-	81,868	327,471.89	
02/01/25	5,038,029	6.500%	-	81,868	-	
05/01/25	5,038,029	6.500%	-	81,868		
08/01/25	5,038,029	6.500%	-	81,868	-	
11/01/25	5,038,029	6.500%	-	81,868	327,471.89	
02/01/26	7,100,000	6.500%	7,100,000	115,375	7,215,375.00	

Total	$7,100,000	$855,879	$7,955,879	

(2) Interest based on actual draws at current interest rate, as of 3/31/2024 $5,038,029 has been drawn.

Solterra	
Community Development District	
Adopted Budget	
Debt Service Series 2024 Special Assessment Notes	

Proposed Budget	
Actuals Thru	
Projected Next	
Projected Thru	Adopted Budget	
Description	FY2024	5/31/24	4 Months	9/30/24	FY 2025	

REVENUES:

Special Assessments-Direct	$-	$-	$114,298	$114,298	$1,418,870	
Interest Earnings	-	-	-	-	-	

TOTAL REVENUES	$-	$-	$114,298	$114,298	$1,418,870	

EXPENDITURES:

Series 2024						
Interest - 11/01	$-	$-	$-	$-	$354,718	
Interest - 02/01	-	-	-	-	354,718	
Interest - 05/01	-	-	-	-	354,718	
Interest - 08/01	-	-	114,298	114,298	354,718	

TOTAL EXPENDITURES	$-	$-	$114,298	$114,298	$1,418,870	

Other Sources/(Uses)

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

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

TOTAL EXPENDITURES	$-	$-	$114,298	$114,298	$1,418,870	

EXCESS REVENUES (EXPENDITURES)	$-	$-	$-	$-	$-	

Solterra	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2024 Special Assessment Notes	

Period	Outstanding Balance	Coupon	Principal	Interest	Annual Debt Service	

11/01/24	$19,900,000	7.130%	$-	$469,015	469,015.36	
02/01/25	19,900,000	7.130%	-	354,718	-	
05/01/25	19,900,000	7.130%	-	354,718	-	
08/01/25	19,900,000	7.130%	-	354,718	-	
11/01/25	19,900,000	7.130%	-	354,718	1,418,870.00	
02/01/26	19,900,000	7.130%	-	354,718	-	
05/01/26	19,900,000	7.130%	-	354,718	-	
08/01/26	19,900,000	7.130%	-	354,718	-	
11/01/26	19,900,000	7.130%	-	354,718	1,418,870.00	
02/01/27	19,900,000	7.130%	-	354,718	-	
05/01/27	19,900,000	7.130%	-	354,718	-	
08/01/27	19,900,000	7.130%	-	354,718	-	
11/01/27	19,900,000	7.130%	-	354,718	1,418,870.00	
02/01/28	19,900,000	7.130%	-	354,718		
05/01/28	19,900,000	7.130%	-	354,718	-	
08/01/28	19,900,000	7.130%	-	354,718		
11/01/28	19,900,000	7.130%	-	354,718	1,418,870.00	
02/01/29	19,900,000	7.130%	-	354,718		
05/01/29	19,900,000	7.130%	19,900,000	354,718	20,609,435.00	

Total	$19,900,000	$6,853,930	$26,753,930	

(1) Interest assumes full draw of bonds at current interest rate