Majorca Isles	
Community Development District	

Approved Proposed Budget	
FY 2027	

Table of Contents

1-2		General Fund

3-4		Narratives

5-6		Debt Service Fund Series 2015

7		Assessment Schedule

Majorca Isles	
Community Development District	
Approved Proposed Budget	
General Fund	

Adopted
Budget	Actuals Thru	Projected Next	Projected Thru	Approved
Proposed	
Description	FY2026	1/31/26	8 Months	9/30/26	FY 2027	

REVENUES:

Special Assessments - On Roll	$	174,898	$	161,115	$	13,783	$	174,898	$	174,898	
Interest income	8,000	4,725	8,275	13,000	8,000	
Carry Forward Surplus	6,977	47,783	-	47,783	24,589	
TOTAL REVENUES	$	189,875	$	213,623	$	22,058	$	235,681	$	207,487	

EXPENDITURES:

Administrative:						
Supervisor Fees	$	12,000	$	600	$	8,000	$	8,600	$	12,000	
FICA Taxes	918	46	612	658	918	
Engineering	5,000	1,239	3,761	5,000	5,000	
Attorney	10,000	163	9,838	10,000	10,000	
Annual Audit	5,500	5,500	-	5,500	5,600	
Arbitrage Rebate	600	-	600	600	600	
Dissemination Agent	2,836	945	1,890	2,836	3,006	
Trustee Fees	4,435	4,095	-	4,095	4,600	
Management Fees	51,039	17,013	34,026	51,039	54,101	
Information Technology	1,134	378	756	1,134	1,202	
Website Maintenance	1,701	567	1,134	1,701	1,803	
Telephone	150	-	150	150	150	
Travel & Per Diem	865	-	865	865	865	
Postage & Delivery	300	27	173	200	200	
Insurance General Liability	12,540	11,815	-	11,815	12,997	
Printing & Binding	600	-	300	300	300	
Legal Advertising	1,100	-	1,100	1,100	1,100	
Other Current Charges	500	-	300	300	300	
Bank Charges	1,022	455	985	1,440	1,500	
Office Supplies	200	-	50	50	50	
Dues, Licenses & Subscriptions	175	175	-	175	175	

TOTAL ADMINISTRATIVE	$	112,615	$	43,017	$	64,541	$	107,557	$	116,467	

Majorca Isles	
Community Development District	
Approved Proposed Budget	
General Fund	

Adopted
Budget	Actuals Thru	Projected Next	Projected Thru	Approved
Proposed	
Description	FY2026	1/31/26	8 Months	9/30/26	FY 2027	

Operations & Maintenance

Field Expenditures						
Utilities-Internet	$	-	$	969	$	1,620	$	2,589	$	2,160	
Landscape Service	17,000	4,600	16,700	21,300	15,600	
Irrigation Repair and Maintenance	4,800	733	2,700	3,433	4,800	
Plant Replacement	15,000	2,756	12,244	15,000	15,000	
Repair and Maintenance	6,500	-	6,500	6,500	6,500	
Rust Prevention	4,560	1,520	3,040	4,560	4,560	
Street/Median Cleaning	11,400	5,800	11,600	17,400	17,400	
Stormwater Drainage	10,000	1,250	8,750	10,000	10,000	
Holiday Decoration	8,000	12,553	6,600	19,153	15,000	
Contingency	-	3,600	-	3,600	-	

Total Field Expenditures	$	77,260	$	33,780	$	69,754	$	103,534	$	91,020	

TOTAL EXPENDITURES	$	189,875	$	76,797	$	134,295	$	211,092	$	207,487	

EXCESS REVENUES (EXPENDITURES)	$	-	$	136,826	$	(112,237)	$	24,589	$	-	

Product	Assessable Units	Total Gross Assessment	FY26
Gross Per Unit	FY27
Gross Per Unit	Increase/ (Decrease)	

Single Family	51	$	14,647.84	$	287.21	$	287.21	$	0.00	
Townhomes	590	$	169,455.42	$	287.21	$	287.21	$	0.00	

Total	641	$ 184,103.26	
Less: Discounts & Collections 5%			9,205.16 	
Net Assessments		 $	174,898.10 	

Majorca Isles	
Community Development District	
Budget Narrative	
FY 2027	

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.	
Interest	
The District earns interest on the monthly average collected balance for each of their investment accounts.	

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. The budgeted amount for the fiscal year is based on all supervisors attending 6 meetings.	
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.	
Arbitrage Rebate	
The District has contracted with its independent auditors to annually calculate the arbitrage rebate liability on its bonds.	
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.	
Postage and Delivery	
Actual postage and/or freight used for District mailings including agenda packages, vendor checks and other correspondence.	

Majorca Isles	
Community Development District	
Budget Narrative	
FY 2027	

Expenditures - Administrative (continued)	
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 other miscellaneous expenses that incur during the year.	
Bank Charges	
This includes monthly bank charges.	
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				
Landscape Service				
Landscaping service 13th CT Right of Way Majorca East of ROW and Walden West of ROW and 14th Place corridor - 1200 linear feet of grass and trimming Clusia hedges. HOA has a contract with landscaping serives.	
Description	Vendor	Monthly amount	Total Amount	
Monthly mowing	Proscapes Enterprises	1,300.00	15,600.00	
Irrigation Reapair and Maintenance	
Represent wet check services for Walden Park and repairs.	
Plant Replacement				
Plant replacement of plants and annuals within the district boundary.	
Repair and Maintenance	
Represents and repairs throughout the district.	
Rust Prevention				
Represents chemical for rest prevention. HOA has a contract with Rust-Off LLC.	
Description	Vendor	Monthly amount	Total Amount	
Rust prevention	Rust-Off LLC	380.00	4,560.00	
Street/Median Cleaning	
Represents cleaning of median on 13th CT Right of Way. HOA have a contract with The Sanitizer LLC.	
Description	Vendor	Monthly amount	Total Amount	
Monthly mowing	The Sanitizer LLC	1,450.00	17,400.00	
Stormwater Drainange		
Storm Drain Cleaning for all Storm Drains throughout the District		
Holiday Decoration		
Represents holiday decoration and Christmas Tree within district boundary.		

Majorca Isles	
Community Development District	
Approved Proposed Budget	
Debt Service Series 2015 Special Assessment Revenue Bonds	

Adopted
Budget	Actuals Thru	Projected Next	Projected Thru	Approved
Proposed	
Description	FY2026	1/31/26	8 Months	9/30/26	FY 2027	

REVENUES:

Special Assessments-On Roll	$	461,471	$	423,487	$	37,985	$	461,471	$	461,471	
Interest Earnings	13,000	7,562	12,438	20,000	10,000	
Carry Forward Surplus (1)	313,376	391,372	-	391,372	422,261	

TOTAL REVENUES	$	787,847	$	822,421	$	50,422	$	872,843	$	893,732	

EXPENDITURES:

Interest - 11/01	$	150,578	$	150,578	$	-	$	150,578	$	146,816	
Interest - 05/01	150,578	-	150,578	150,578	146,816	
Principal - 05/01	140,000	-	140,000	140,000	150,000	

TOTAL EXPENDITURES	$	441,156	$	150,578	$	290,578	$	441,156	$	443,631	

Other Sources/(Uses)

Interfund transfer In/(Out)	$	-	$	9,426	$	-	$	9,426	$	-	

TOTAL OTHER SOURCES/(USES)	$	-	$	9,426	$	-	$	9,426	$	-	

TOTAL EXPENDITURES	$	441,156	$	160,004	$	290,578	$	450,583	$	443,631	

EXCESS REVENUES (EXPENDITURES)	$	346,691	$	662,417	$	(240,156)	$	422,261	$	450,101	

Interest Due 11/1/27	$142,784.38	

(1) Carry Forward is Net of Reserve Requirement

Product	Assessable Units	Total Gross Assessment	FY26
Gross Per Unit	FY27
Gross Per Unit	Increase/ (Decrease)	

Single Family	51	$	43,341.84	$	849.84	$	849.84	$	-	
Townhomes	590	$	442,417.40	$	749.86	$	749.86	$	-	
Total	641	$	485,759.24				
Less: Discounts & Collections 5%			24,287.96 				
Net Assessments		 $	461,471.28 				

Majorca Isles	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2015 Special Assessment Revenue Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

11/01/15	$	6,725,000	5.000%	$	-	$	89,694	$	89,694	
05/01/16	6,725,000	5.000%	-	183,466		
11/01/16	6,725,000			183,466	366,931	
05/01/17	6,725,000	5.000%	95,000	183,466		
11/01/17	6,630,000			181,091	459,556	
05/01/18	6,630,000	5.000%	120,000	181,091		
11/01/18	6,510,000		5,000	178,034	484,125	
05/01/19	6,505,000	5.000%	105,000	178,034		
11/01/19	6,400,000			175,269	458,303	
05/01/20	6,400,000	5.000%	205,000	175,269		
11/01/20	6,195,000		5,000	169,916	555,184	
05/01/21	6,190,000	5.000%	130,000	169,781		
11/01/21	6,060,000			166,491	466,272	
05/01/22	6,060,000	5.000%	120,000	166,491		
11/01/22	5,940,000			163,491	449,981	
05/01/23	5,940,000	5.000%	125,000	163,491		
11/01/23	5,815,000		110,000	160,366	558,857	
05/01/24	5,705,000	5.000%	130,000	157,328		
11/01/24	5,575,000		-	154,094	441,422	
05/01/25	5,575,000	5.000%	140,000	154,078		
11/01/25	5,435,000			150,578	444,656	
05/01/26	5,435,000	5.375%	140,000	150,578		
11/01/26	$	5,295,000			$	146,816	$	437,394	
05/01/27	5,295,000	5.375%	150,000	146,816		
11/01/27	5,145,000			142,784	439,600	
05/01/28	5,145,000	5.375%	160,000	142,784		
11/01/28	4,985,000			138,484	441,269	
05/01/29	4,985,000	5.375%	165,000	138,484		
11/01/29	4,820,000			134,050	437,534	
05/01/30	4,820,000	5.375%	175,000	134,050		
11/01/30	4,645,000			129,347	438,397	
05/01/31	4,645,000	5.375%	185,000	129,347		
11/01/31	4,460,000			124,375	438,722	
05/01/32	4,460,000	5.375%	195,000	124,375		
11/01/32	4,265,000			119,134	438,509	
05/01/33	4,265,000	5.375%	205,000	119,134		
11/01/33	4,060,000			113,625	437,759	
05/01/34	4,060,000	5.375%	220,000	113,625		
11/01/34	3,840,000			107,713	441,338	
05/01/35	3,840,000	5.375%	230,000	107,713		
11/01/35	3,610,000			101,531	439,244	
05/01/36	3,610,000	5.625%	245,000	101,531		
11/01/36	3,365,000			94,641	441,172	
05/01/37	3,365,000	5.625%	260,000	94,641		
11/01/37	3,105,000			87,328	441,969	
05/01/38	3,105,000	5.625%	275,000	87,328		
11/01/38	2,830,000			79,594	441,922	
05/01/39	2,830,000	5.625%	290,000	79,594		
11/01/39	2,540,000			71,438	441,031	
05/01/40	2,540,000	5.625%	305,000	71,438		
11/01/40	2,235,000			62,859	439,297	
05/01/41	2,235,000	5.625%	325,000	62,859		
11/01/41	1,910,000			53,719	441,578	
05/01/42	1,910,000	5.625%	340,000	53,719		
11/01/42	1,570,000			44,156	437,875	
05/01/43	1,570,000	5.625%	360,000	44,156		
11/01/43	1,210,000			34,031	438,188	
05/01/44	1,210,000	5.625%	380,000	34,031		
11/01/44	830,000			23,344	437,375	
05/01/45	830,000	5.625%	405,000	23,344		
11/01/45	425,000			11,953	440,297	
05/01/46	425,000	5.625%	425,000	11,953	436,953	

TOTAL	$	6,725,000	$	7,277,404	$	14,002,404	

Majorca Isles	
Community Development District	
Non-Ad Valorem Assessments Comparison	
2026-2027	

Neighborhood	O&M Units	Bonds 2015
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)	

Single Family	

51	

51	

$287.21	

$287.21	

$0.00	

$849.84	

$849.84	

$0.00	

$1,137.05	

$1,137.05	

$0.00	
Townhomes	590	590	$287.21	$287.21	$0.00	$749.86	$749.86	$0.00	$1,037.07	$1,037.07	$0.00	
Total	641	641										

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