NatureWalk Community Development District
www.naturewalkcdd.org

Approved Proposed Budget for Fiscal Year 2024-2025 Presented by: Rizzetta & Company, Inc
Phone: 850-334-9055

rizzetta.com

Table of Contents

Page
General Fund Budget for Fiscal Year 2024/2025	1
Reserve Fund Budget for Fiscal Year 2024/2025	5
Debt Service Fund Budget for Fiscal Year 2024/2025	6
Assessments Charts for Fiscal Year 2024/2025	7
General Fund Budget Account Category Descriptions	9
Reserve Fund Budget Account Category Descriptions	13
Debt Service Fund Budget Account Category Descriptions	14

6

1

Proposed Budget
Naturewalk Community Development District General Fund
Fiscal Year 2024/2025

Chart of Accounts Classification	
Actual YTD through 04/30/24	
Projected Annual Totals 2023/2024	
Annual Budget for 2023/2024	
Projected Budget variance for 2023/2024	

Budget for 2024/2025	
Budget Increase (Decrease) vs 2023/2024	

Comments	
1									
2	REVENUES								
3	Special Assessments								
4	Tax Roll	$ 836,814	$  836,814	$	836,814	$	-	$	961,603	$	124,789		
5									
	Balance Forward from Prior Year	$	-	$  115,200	$	115,200	$	-	$	-	$	(115,200)		
7									
8	TOTAL REVENUES AND BALANCE FORWARD	$ 836,814	$  952,014	$	952,014	$	-	$	961,603	$	9,589		
9									
10	EXPENDITURES - ADMINISTRATIVE								
11									
12	Legislative								
13	Supervisor Fees	$	6,000	$	10,286	$	12,000	$	1,714	$	12,000	$	-	Assumes 5 paid Survisors, 12 meetings.	
14	Legislative Subtotal	$	6,000	$	10,286	$	12,000	$	1,714	$	12,000	$	-		
15									
16	Financial & Administrative								
17	Accounting Services	$	9,707	$	16,640	$	16,640	$	-	$	16,640	$	-		
18	Administrative Services	$	5,460	$	9,360	$	9,360	$	-	$	9,360	$	-		
19	Arbitrage Rebate Calculation	$	-	$	450	$	450	$	-	$	450	$	-		
20	Assessment Roll	$	5,200	$	5,200	$	5,200	$	-	$	5,200	$	-	No changes.	

21	

Auditing Services	

$	-	

$	3,250	

$	6,800	

$	3,550	

$	3,550	

$	(3,250)	In line with FY23-27 Engagement. Reduction per
previous budget inclusive of payment of two Audits in the same FY.	
22	Disclosure Report	$	5,000	$	5,000	$	5,000	$	-	$	5,000	$	-		
23	District Engineer	$  14,325	$	24,557	$	30,000	$	5,443	$	35,000	$	5,000	District Engineer Meeting 05/02/2024	
24	District Management	$  15,925	$	27,300	$	27,300	$	-	$	30,000	$	2,700		
25	Dues, Licenses & Fees	$	175	$	175	$	175	$	-	$	175	$	-		
26	Financial & Revenue Collections	$	2,272	$	3,894	$	3,894	$	-	$	3,894	$	-		
27	Legal Advertising	$	1,279	$	2,193	$	3,500	$	1,307	$	3,500	$	-	No changes, monitor through final.	

2

Proposed Budget
Naturewalk Community Development District General Fund
Fiscal Year 2024/2025

Chart of Accounts Classification	
Actual YTD through 04/30/24	
Projected Annual Totals 2023/2024	
Annual Budget for 2023/2024	
Projected Budget variance for 2023/2024	

Budget for 2024/2025	
Budget Increase (Decrease) vs 2023/2024	

Comments	
28	
Miscellaneous Administrative Fees	
$	500	
$	857	
$	5,000	
$	4,143	
$	5,000	
$	-	Amount budgeted for miscellaneous expenses related to
Surveys	
29	Public Officials Liability Insurance	$	2,143	$	2,669	$	2,830	$	161	$	3,050	$	220	Placeholder, monitor Egis projections through final.	
30	
Room Rentals	
$	950	
$	1,629	
$	1,500	
$	(129)	
$	1,800	
$	300	Amount paid for renting meeting space for Supervisor
meetings, assumes 12 paid meeting room reservations.	
31	Supervisor Workers Comp Insurance	$	850	$	1,457	$	850	$	(607)	$	850	$	-		
32	Trustees Fees	$	-	$	-	$	7,000	$	7,000	$	7,000	$	-		
33	Website Hosting, Maintenance, Backup & Email	$	3,500	$	6,000	$	6,000	$	-	$	6,000	$	-		
34	Financial & Administrative Subtotal	$  67,286	$  110,631	$	131,499	$	20,868	$	136,469	$	4,970		
35									
36									
37	Legal Counsel								
38	District Counsel	$  23,043	$	39,502	$	40,000	$	498	$	50,000	$	10,000	Bump up for parcels	
39	Litigation / Mediation	$	-	$	2,275	$	5,460	$	3,185	$	5,000	$	(460)	No changes, monitor through final.	
40	Legal Counsel Subtotal	$  23,043	$	41,777	$	45,460	$	3,683	$	55,000	$	9,540		
41									
42	Administrative Subtotal	$  96,329	$  162,694	$	188,959	$	26,265	$	203,469	$	14,510		
43									
44	EXPENDITURES - FIELD OPERATIONS								
45									
46	Electric Utility Services								
47	
Utility - Electricity	
$  10,588	
$	18,151	
$	21,600	
$	3,449	
$	21,600	
$	-	No changes, projections do not capture the heavy
irrigation months. Monitor through final.	
48	Electric Utility Services Subtotal	$  10,588	$	18,151	$	21,600	$	3,449	$	21,600	$	-		
49									
50	Stormwater Control								
51	Aquatic Maintenance	$	7,036	$	12,062	$	10,970	$	(1,092)	$	9,000	$	(1,970)		
52	Fountain Repairs	$	-	$	-	$	1,000	$	1,000	$	2,148	$	1,148		
53	Stormwater Monitoring & Maintenance	$	-	$	-	$	24,930	$	24,930	$	10,000	$	(14,930)	This is for erosion	
54	Stormwater System Maintenance	$	-	$	-	$	1,000	$	1,000	$	1,000	$	-	No changes, monitor through final. For the Pumps	
55	Stormwater Control Subtotal	$	7,036	$	12,062	$	37,900	$	25,838	$	22,148	$	(15,752)		

3

Proposed Budget
Naturewalk Community Development District General Fund
Fiscal Year 2024/2025

Chart of Accounts Classification	
Actual YTD through 04/30/24	
Projected Annual Totals 2023/2024	
Annual Budget for 2023/2024	
Projected Budget variance for 2023/2024	

Budget for 2024/2025	
Budget Increase (Decrease) vs 2023/2024	

Comments	
56									
	Other Physical Environment	$	-							
58	Fence Repairs	$	9,409	$	16,130	$	33,933	$	17,803	$	25,000	$	(8,933)	This includes bulkhead fence repairs	
59	General Liability Insurance	$	2,460	$	3,112	$	3,310	$	198	$	3,500	$	190	Projected 24/25 - $3,423	
60	Irrigation Repairs	$	3,545	$	6,077	$	12,000	$	5,923	$	12,000	$	-	No changes, monitor through final.	
61	Landscape - Mulch	$  30,441	$	61,000	$	65,000	$	4,000	$	63,000	$	(2,000)	Placeholder for Board input.- Pinstraw addition	
62	Landscape Maintenance	$  77,567	$  132,972	$	143,000	$	10,028	$	154,886	$	11,886	2025 Contract 3% increase, plus add. Property trim	
63	Landscape Replacement, Plants, Shrubs, Trees	$	5,998	$	45,000	$	56,855	$	11,855	$	20,000	$	(36,855)		
64	Pedestrian Path Lighting	$	-	$	3,000	$	3,000	$	-	$	1,000	$	(2,000)		
65	Property Insurance	$  28,337	$	48,578	$	63,026	$	14,448	$	53,000	$	(10,026)		
66	Tree Trimming Services	$	405	$	694	$	4,000	$	3,306	$	4,000	$	-	Just for Palm trees	
67	Other Physical Environment Subtotal	$ 158,162	$  316,563	$	384,124	$	67,561	$	336,386	$	(47,738)		

4

Proposed Budget
Naturewalk Community Development District General Fund
Fiscal Year 2024/2025

Chart of Accounts Classification	
Actual YTD through 04/30/24	
Projected Annual Totals 2023/2024	
Annual Budget for 2023/2024	
Projected Budget variance for 2023/2024	

Budget for 2024/2025	
Budget Increase (Decrease) vs 2023/2024	

Comments	
68									
69	Road & Street Facilities								
70	Bridge Repair	$  97,745	$  167,563	$	147,900	$	(19,663)	$	120,000	$	(27,900)	Includes Pedestrian Walkway	
71	Roadway Repair & Maintenance	$  34,408	$	58,985	$	73,721	$	14,736	$	100,000	$	26,279	Alley and Speedbumps 2024	
72	Security Camera Equipment Lease	$	2,444	$	4,190	$	5,000	$	810	$	5,000	$	-	Flock Camera Systems	
73	Sidewalk Maintenance & Repair	$  13,859	$	23,758	$	20,000	$	(3,758)	$	12,000	$	(8,000)		
74	Street Light/Decorative Light Maintenance	$	8,494	$	19,610	$	19,610	$	-	$	12,000	$	(7,610)		
75	Street Sign Repair & Replacement	$	3,660	$	6,274	$	8,660	$	2,386	$	3,000	$	(5,660)		
76	Trail Path Maintenance	$	-	$	-	$	15,000	$	15,000	$	15,000	$	-		
77	Road & Street Facilities Subtotal	$ 160,610	$  280,380	$	289,891	$	9,511	$	267,000	$	(22,891)		
78									
79	Contingency								
80	
Miscellaneous Contingency	
$	2,962	
$	5,078	
$	29,540	
$	24,462	
$	111,000	
$	81,460	Lily Lane easement + Conservation Area Amendment
Petition	
81	Contingency Subtotal	$	2,962	$	5,078	$	29,540	$	24,462	$	111,000	$	81,460		
82									
83	Field Operations Subtotal	$ 339,358	$  632,233	$	763,055	$  130,822	$	758,134	$	(4,921)		
84									
85	TOTAL EXPENDITURES	$ 435,687	$  794,927	$	952,014	$  157,087	$	961,603	$	9,589		
86									
87	EXCESS OF REVENUES OVER EXPENDITURES	$ 401,127	$  157,087	$	-	$  157,087	$	-	$	-		
88									

5

Proposed Budget
Naturewalk Community Development District Reserve Fund
Fiscal Year 2024/2025

Chart of Accounts Classification	
Actual YTD through 04/30/24	Projected Annual Totals 2023/2024	
Annual Budget for 2023/2024	Projected Budget variance for 2023/2024	
Budget for 2024/2025	Budget Increase (Decrease) vs 2023/2024	
Comments	
								
REVENUES								
Interest Earnings	$779.00							
Special Assessments								
Tax Roll*	$	75,000	$	75,000	$	75,000	$	-	$	50,000	$	(25,000)		
								
TOTAL REVENUES	$	75,000	$	75,000	$	75,000	$	-	$	50,000	$	(25,000)		

EXPENDITURES								
								
Contingency	$	-							

Capital Reserves	
$	-	
$	-	
$	75,000	
$	75,000	
$	50,000	
$	(25,000)	Capital Reserves to fund unforeseen infrastructure repairs and replacement.	
								
TOTAL EXPENDITURES	$	-	$	-	$	75,000	$	75,000	$	50,000	$	(25,000)		
								
EXCESS OF REVENUES OVER EXPENDITURES	
$	75,000	
$	75,000	
$	-	
$	75,000	
$	-	
$	-		

NatureWalk Community Development District Debt Service
Fiscal Year 2024/2025	6	

Chart of Accounts Classification	Series 2007A	

Budget for 2024/2025	
			
REVENUES			
Special Assessments			
Net Special Assessments (1)	$411,259.14	$411,259.14	
			
TOTAL REVENUES	$411,259.14	$411,259.14	

EXPENDITURES			
Administrative			
Debt Service Obligation	$411,259.14	$411,259.14	
Administrative Subtotal	$411,259.14	$411,259.14	
			
TOTAL EXPENDITURES	$411,259.14	$411,259.14	
			
EXCESS OF REVENUES OVER EXPENDITURES	$0.00	$0.00	

Collection Costs (2%) and Early Payment Discount (4%) applicable to the county:	6.0%

GROSS ASSESSMENTS	$437,509.72

Notes:
Tax Roll Collection Costs (2%) and Early Payment Discount (4%) for Walton County is 6.0% of Tax Roll. Budgeted net of tax roll assessments. See Assessment Table.

(1) Maximum Annual Debt Service less Prepaid Assessments received.

Per Unit Annual Assessment Comparison
2023/2024	2024/2025	

$1,138.28
$1,801.66	
$1,138.28
$1,998.84	
$2,939.94	$3,137.12	

$1,463.51
$2,324.14	
$1,463.51
$2,578.50	
$3,787.65	$4,042.01	

$0.00
$6,612.10	
$0.00
$7,335.73	
$6,612.10	$7,335.73	

$978.92
$1,549.43	
$978.92
$1,719.00	
$2,528.35	$2,697.92	

Proposed Increase / Decrease
$	%	

$0.00	
0.00%	
$197.18	10.94%	
$197.18	6.71%	

$0.00	
0.00%	
$254.36	10.94%	
$254.36	6.72%	

$0.00	
0.00%	
$723.63	10.94%	
$723.63	10.94%	

$0.00	
0.00%	
$169.57	10.94%	
$169.57	6.71%	

7

NATURE WALK COMMUNITY DEVELOPMENT DISTRICT

FISCAL YEAR 2024/2025 O&M & DEBT SERVICE ASSESSMENT SCHEDULE	

2024/2025 O&M Budget:		
$1,011,603.00	
2023/2024 O&M Budget:	
$911,814.00	
Collection Costs:	2%	$21,523.47	2024/2025 O&M Budget:	$1,011,603.00	
Early Payment Discounts:	4%	$43,046.94			
2024/2025 Total:		$1,076,173.40	Total Difference:	

$99,789.00	

Lot Size

Single Family 35'

Single Family 45'

Office Building

Multifamily (Unplatted)

(1) Prepaid Debt Service Assessment	

Assessment Breakdown

Series 2007A Debt Service Operations/Maintenance

Total

Series 2007A Debt Service Operations/Maintenance

Total

Series 2007A Debt Service  (1)
Operations/Maintenance

Total

Series 2007A Debt Service Operations/Maintenance

Total				

8

NATURE WALK COMMUNITY DEVELOPMENT DISTRICT

FISCAL YEAR 2024/2025 O&M & DEBT SERVICE ASSESSMENT SCHEDULE	

TOTAL O&M BUDGET	$1,011,603.00
COLLECTION COSTS @	2.0%	$21,523.47
EARLY PAYMENT DISCOUNT@	4.0%	$43,046.94

TOTAL O&M ASSESSMENT	$1,076,173.40	
	UNITS ASSESSED		ALLOCATION OF O&M ASSESSMENT		PER LOT ANNUAL ASSESSMENT		
	
SERIES 2007A		
TOTAL	% TOTAL	TOTAL		
SERIES 2007A		
	LOT SIZE	O&M	DEBT SERVICE (1)		EAU FACTOR	EAU's	EAU's	O&M BUDGET		O&M	DEBT SERVICE (2)	TOTAL (3)		
	SINGLE FAMILY 35	143	82		
1.00	143.00	26.56%	$285,833.58		
$1,998.84	$1,138.28	$3,137.12		
	SINGLE FAMILY 45	153	84		1.29	197.37	36.66%	$394,510.30		$2,578.50	$1,463.51	$4,042.01		
	OFFICE BUILDING	1	0		3.67	3.67	0.68%	$7,335.73		$7,335.73	$0.00	$7,335.73		
	Total Platted	297	166		

344.04	63.90%	$687,679.60				
	MULTIFAMILY	226	226		
0.86	194.36	36.10%	$388,493.80		
$1,719.00	$978.92	$2,697.92		
	Total Unplatted	226	226		

194.36	36.10%	$388,493.80				
	Total Community	523	392		

538.40	100.00%	$1,076,173.40				
	
LESS: Walton County Collection Costs (2%) and Early Payment Discount Costs (4%)

Net Revenue to be Collected					
($64,570.40)

$1,011,603.00						

(1) Reflects the number of total lots with Series 2007A debt outstanding.

(2) Annual debt service assessment per lot adopted in connection with the Series 2007A bond issue. Annual assessment includes principal, interest, Walton County collection costs and early payment discount costs.

(3) Annual assessment that will appear on November 2024 Walton County property tax bill. Amount shown includes all applicable collection costs. Property owner is eligible for a discount of up to 4% if paid early.	

9

GENERAL FUND BUDGET ACCOUNT CATEGORY DESCRIPTION
The General Fund Budget Account Category Descriptions are subject to change at any time depending on its application to the District. Please note, not all General Fund Budget Account Category Descriptions are applicable to the District indicated above. Uses of the descriptions contained herein are intended for general reference.

REVENUES:

Interest Earnings: The District may earn interest on its monies in the various operating accounts.
Tax Roll: The District levies Non-Ad Valorem Special Assessments on all of the assessable property within the District to pay for operating expenditures incurred during the Fiscal Year. The assessments may be collected in two ways. The first is by placing them on the County’s Tax Roll, to be collected with the County’s Annual Property Tax Billing. This method is only available to land properly platted within the time limits prescribed by the County.

Off Roll: For lands not on the tax roll and that is by way of a direct bill from the District to the appropriate property owner.
Developer Contributions: The District may enter into a funding agreement and receive certain prescribed dollars from the Developer to off-set expenditures of the District.

EXPENDITURES – ADMINISTRATIVE:

Supervisor Fees: The District may compensate its supervisors within the appropriate statutory limits of
$200.00 maximum per meeting within an annual cap of $4,800.00 per supervisor.
Administrative Services: The District will incur expenditures for the day to today operation of District matters. These services include support for the District Management function, recording and preparation of meeting minutes, records retention and maintenance in accordance with Chapter 119, Florida Statutes, and the District’s adopted Rules of Procedure, preparation and delivery of agenda, overnight deliveries, facsimiles and phone calls.

10

District Management: The District as required by statute, will contract with a firm to provide for management and administration of the District’s day to day needs. These service include the conducting of board meetings, workshops, overall administration of District functions, all required state and local filings, preparation of annual budget, purchasing, risk management, preparing various resolutions and all other secretarial duties requested by the District throughout the year is also reflected in this amount.
District Engineer: The District’s engineer provides general engineering services to the District. Among these services are attendance at and preparation for monthly board meetings, review of construction invoices and all other engineering services requested by the district throughout the year.

Disclosure Report: The District is required to file quarterly and annual disclosure reports, as required in the District’s Trust Indenture, with the specified repositories. This is contracted out to a third party in compliance with the Trust Indenture.

Trustee’s Fees: The District will incur annual trustee’s fees upon the issuance of bonds for the oversight of the various accounts relating to the bond issues.

Assessment Roll: The District will contract with a firm to prepare, maintain and certify the assessment roll(s) and annually levy a non-ad valorem assessment for operating and debt service expenses.
Financial & Revenue Collections: Services of the Collection Agent include all functions necessary for the timely billing and collection and reporting of District assessments in order to ensure adequate funds to meet the District’s debt service and operations and maintenance obligations. The Collection Agent also maintains and updates the District’s lien book(s) annually and provides for the release of liens on property after the full collection of bond debt levied on particular properties.

Accounting Services: Services include the preparation and delivery of the District’s financial statements in accordance with Governmental Accounting Standards, accounts payable and accounts receivable functions, asset tracking, investment tracking, capital program administration and requisition processing, filing of annual reports required by the State of Florida and monitoring of trust account activity.
Auditing Services: The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting firm, once it reaches certain revenue and expenditure levels, or has issued bonds and incurred debt.
Arbitrage Rebate Calculation: The District is required to calculate the interest earned from bond proceeds each year pursuant to the Internal Revenue Code of 1986. The Rebate Analyst is required to verify that the District has not received earnings higher than the yield of the bonds.

Travel: Each Board Supervisor and the District Staff are entitled to reimbursement for travel expenses per Florida Statutes 190.006(8).
Public Officials Liability Insurance: The District will incur expenditures for public officials’ liability insurance for the Board and Staff.

11

Legal Advertising: The District will incur expenditures related to legal advertising. The items for which the District will advertise include, but are not limited to meeting schedules, special meeting notices, and public hearings, bidding etc. for the District based on statutory guidelines
Bank Fees: The District will incur bank service charges during the year.

Dues, Licenses & Fees: The District is required to pay an annual fee to the Department of Economic Opportunity, along with other items which may require licenses or permits, etc.
Miscellaneous Administrative Fees: The District could incur miscellaneous fees throughout the year, which may not fit into any standard categories.

Website Hosting, Maintenance and Email: The District may incur fees as they relate to the development and ongoing maintenance of its own website along with possible email services if requested.
District Counsel: The District’s legal counsel provides general legal services to the District. Among these services are attendance at and preparation for monthly board meetings, review of operating and maintenance contracts and all other legal services requested by the district throughout the year.

EXPENDITURES - FIELD OPERATIONS:

Electric Utility Services: The District will incur electric utility expenditures for general purposes such as irrigation timers, lift station pumps, fountains, etc.
Street Lights: The District may have expenditures relating to street lights throughout the community. These may be restricted to main arterial roads or in some cases to all street lights within the District’s boundaries.
Aquatic Maintenance: Expenses related to the care and maintenance of the lakes and ponds for the control of nuisance plant and algae species.

Fountain Service Repairs & Maintenance: The District may incur expenses related to maintaining the fountains within throughout the Parks & Recreational areas

Lake/Pond Bank Maintenance: The District may incur expenditures to maintain lake banks, etc. for the ponds and lakes within the District’s boundaries, along with planting of beneficial aquatic plants, stocking of fish, mowing and landscaping of the banks as the District determines necessary.
General Liability Insurance: The District will incur fees to insure items owned by the District for its general liability needs
Property Insurance: The District will incur fees to insure items owned by the District for its property needs

12

Landscape Maintenance: The District will incur expenditures to maintain the rights-of-way, median strips, recreational facilities including pond banks, entryways, and similar planting areas within the District. These services include but are not limited to monthly landscape maintenance, fertilizer, pesticides, annuals, mulch, and irrigation repairs.

Irrigation Maintenance: The District will incur expenditures related to the maintenance of the irrigation systems.
Irrigation Repairs: The District will incur expenditures related to repairs of the irrigation systems.

Landscape Replacement: Expenditures related to replacement of turf, trees, shrubs etc.

Sidewalk Repair & Maintenance: Expenses related to sidewalks located in the right of way of streets the District may own if any.
Roadway Repair & Maintenance: Expenses related to the repair and maintenance of roadways owned by the District if any.
Bridge & Trail/Bike Path Maintenance: Expenses related to bridges and boardwalk pathways or trail systems the District may own.
Miscellaneous Contingency: Monies collected and allocated for expenses that the District could incur throughout the year, which may not fit into any standard categories.

Capital Outlay: Monies collected and allocated for various projects as they relate to public improvements.

13

RESERVE FUND BUDGET ACCOUNT CATEGORY DESCRIPTION
The Reserve Fund Budget Account Category Descriptions are subject to change at any time depending on its application to the District. Please note, not all Reserve Fund Budget Account Category Descriptions are applicable to the District indicated above. Uses of the descriptions contained herein are intended for general reference.

REVENUES:

Tax Roll: The District levies Non-Ad Valorem Special Assessments on all of the assessable property within the District to pay for operating expenditures incurred during the Fiscal Year. The assessments may be collected in two ways. The first is by placing them on the County’s Tax Roll, to be collected with the County’s Annual Property Tax Billing. This method is only available to land properly platted within the time limits prescribed by the County.
Off Roll: For lands not on the tax roll and that is by way of a direct bill from the District to the appropriate property owner.

Developer Contributions: The District may enter into a funding agreement and receive certain prescribed dollars from the Developer to off-set expenditures of the District.
Miscellaneous Revenues: The District may receive monies for the sale or provision of electronic access cards, entry decals etc.

EXPENDITURES:

Capital Reserve: Monies collected and allocated for the future repair and replacement of various capital improvements such as club facilities, swimming pools, athletic courts, roads, etc.
Capital Outlay: Monies collected and allocated for various projects as they relate to public improvements.

14

DEBT SERVICE FUND BUDGET ACCOUNT CATEGORY DESCRIPTION
The Debt Service Fund Budget Account Category Descriptions are subject to change at any time depending on its application to the District. Please note, not all Debt Service Fund Budget Account Category Descriptions are applicable to the District indicated above. Uses of the descriptions contained herein are intended for general reference.

REVENUES:

Special Assessments: The District may levy special assessments to repay the debt incurred by the sale of bonds to raise working capital for certain public improvements. The assessments may be collected in the same fashion as described in the Operations and Maintenance Assessments.

EXPENDITURES – ADMINISTRATIVE:

Bank Fees: The District may incur bank service charges during the year.

Debt Service Obligation: This would a combination of the principal and interest payment to satisfy the annual repayment of the bond issue debt.

Equivalent Assessment Unit (EAU: Allocation factor which reflects a quantitative measure of the amount of special benefit conferred by the District’s public infrastructure improvements and maintenance on a particular land use, relative to other land uses.