Storey Drive 
Community Development District 
Adopted Budget 
FY 2024 

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Table of Contents 
General Fund 
General Fund Narrative 
Debt Service Fund Series 2022 
Amortization Schedule Series 2022

Adopted Actual Projected Total Adopted 
Budget Thru Next 3 Thru Budget 
FY2023 6/30/23 Months 9/30/23 FY2024 
Revenues 
Assessments - Unplatted $59,788 $59,789 $0 $59,789 $0 
Assessments - Platted $154,769 $159,020 $0 $159,020 $313,137 
Developer Contributions $98,580 $14,828 $40,431 $55,259 $0 
Miscellaneous Income $0 $2 $0 $2 $0 
Total Revenues $313,137 $233,639 $40,431 $274,070 $313,137 
Expenditures 
Administrative 
Supervisor Fees $12,000 $3,200 $1,600 $4,800 $12,000 
FICA Expense $918 $245 $122 $367 $918 
Engineering $12,000 $2,351 $1,649 $4,000 $12,000 
Attorney $25,000 $17,102 $5,498 $22,600 $25,000 
Dissemination $3,500 $2,625 $875 $3,500 $3,500 
Arbitrage $450 $450 $0 $450 $450 
Annual Audit $3,450 $3,000 $0 $3,000 $3,600 
Trustee Fees $5,000 $4,041 $0 $4,041 $5,000 
Assessment Administration $5,000 $5,000 $0 $5,000 $5,250 
Management Fees $35,000 $26,250 $8,750 $35,000 $36,750 
Information Technology $1,300 $975 $325 $1,300 $1,800 
Website Maintenance $800 $600 $200 $800 $1,200 
Telephone $150 $0 $25 $25 $75 
Postage $1,000 $56 $24 $80 $500 
Printing & Binding $1,000 $36 $14 $50 $500 
Insurance $5,500 $5,375 $0 $5,375 $5,915 
Legal Advertising $5,000 $595 $1,905 $2,500 $2,835 
Other Current Charges $600 $0 $150 $150 $600 
Office Supplies $375 $2 $1 $3 $150 
Dues, Licenses & Subscriptions $175 $175 $0 $175 $175 
Total Administrative $118,218 $72,077 $21,138 $93,216 $118,218 
Storey Drive 
Community Development District 
Fiscal Year 2024 
General Fund 
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Adopted Actual Projected Total Adopted 
Budget Thru Next 3 Thru Budget 
FY2023 6/30/23 Months 9/30/23 FY2024 
Operations & Maintenance 
Field Services $7,500 $5,625 $1,875 $7,500 $7,875 
Property Insurance $5,000 $0 $0 $0 $5,000 
Electric $3,500 $0 $0 $0 $3,500 
Water & Sewer $20,000 $0 $0 $0 $20,000 
Landscape Maintenance $129,144 $62,915 $24,198 $87,113 $134,304 
Landscape Contingency $2,500 $0 $625 $625 $2,500 
Irrigation Repairs $2,500 $1,112 $638 $1,750 $2,500 
Lake Maintenance $14,775 $0 $3,083 $3,083 $8,220 
Pressure Washing $5,000 $0 $1,250 $1,250 $5,000 
Repairs & Maintenance $2,500 $0 $625 $625 $3,520 
Contingency $2,500 $0 $625 $625 $2,500 
Total Operations & Maintenance $194,919 $69,651 $32,919 $102,570 $194,919 
Total Expenditures $313,137 $141,729 $54,057 $195,786 $313,137 
Excess Revenues/(Expenditures) $0 $91,911 ($13,626) $78,285 $0 
Community Development District 
Fiscal Year 2024 
General Fund 
Storey Drive 
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Assessment Charts 
Net Administrative Annual Assessments (Total) $118,218 
Collection Cost (6%) $7,546 
Gross Assessments $125,764 
Property Type Units ERU Factor ERUs Gross Per Unit Total Gross 
Condo 256 0.50 128 $180.70 $46,257.96 
Townhomes 200 0.75 150 $271.04 $54,208.55 
Single Family 70 1.00 70 $361.39 $25,297.32 
Total 526 348 $125,763.83 
Net Maintenance Annual Assessments (Total) $194,919 
Collection Cost (6%) $12,442 
Gross Assessments $207,361 
Property Type Units ERU Factor ERUs Gross Per Unit Total Gross 
Condo 256 0.50 128 $297.93 $76,270.58 
Townhomes 200 0.75 150 $446.90 $89,379.59 
Single Family 70 1.00 70 $595.86 $41,710.47 
Total 526 348 $207,360.64 
Net Administrative & Maintenance Annual Assessments (Platted) $313,137 
Collection Cost (6%) $19,987 
Gross Assessments $333,124 
Property Type Units ERU Factor ERUs Gross Per Unit Total Gross 
Condo 256 0.50 128 $478.63 $122,528.54 
Townhomes 200 0.75 150 $717.94 $143,588.13 
Single Family 70 1.00 70 $957.25 $67,007.80 
Total 526 348 $333,124.47 
Storey Drive 
Community Development District 
Fiscal Year 2024 
General Fund 
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Storey Drive 
Community Development District 
GENERAL FUND BUDGET 
REVENUES: 
Assessments 
The District will levy a non-ad valorem special assessment on all the assessment 
property within the District in order to pay for the operating expenditures during the 
fiscal year. 
EXPENDITURES: 
Administrative: 
Supervisor Fees 
Chapter 190, Florida Statutes, allows for each Board member to receive $200 per 
meeting, not to exceed $4,800 per year paid to each Supervisor for the time 
devoted to District business and meetings. Amount is based on 5 supervisors 
attending 12 meetings during the fiscal year. 
FICA Expense 
Represents the Employer’s share of Social Security and Medicare taxes withheld 
from Board of Supervisor checks. 
Engineering 
The District's engineer, Poulos & Bennett, LLC, will be providing general 
engineering services to the District, e.g. attendance and preparation for monthly 
board meetings, review of invoices and requisitions, preparation and review of 
contract specifications and bid documents, and various projects assigned as 
directed by the Board of Supervisors and the District Manager. 
Attorney 
The District's legal counsel, Latham, Luna, Eden & Beaudine, LLP, will be 
providing general legal services to the District, e.g. attendance and preparation for 
monthly meetings, preparation and review of agreements and resolutions, and 
other research assigned as directed by the Board of Supervisors and the District 
Manager. 
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Storey Drive 
Community Development District 
GENERAL FUND BUDGET 
Dissemination 
The District is required by the Security and Exchange Commission to comply with 
Rule 15c2-12(b)(5) which relates to additional reporting requirements for unrated 
bond issues. The District has contracted with Governmental Management 
Services-Central Florida, LLC for this service on Series 2022 Special Assessment 
Bonds. 
Arbitrage 
The District will contract with an independent certified public accountant to annually 
calculate the District’s Arbitrage Rebate Liability on the Series 2022 Special 
Assessment Bonds. The District has contracted with AMTEC Corporation for this 
service. 
Annual Audit 
The District is required by Florida Statutes to arrange for an independent audit of 
its financial records on an annual basis. The District has contracted with 
DiBartolomeo, McBee, Hartley & Barnes, P.A. for this service. 
Trustee Fees 
The District will pay annual trustee fees for the Series 2022 Special Assessment 
Bonds that are deposited with Trustee at USBank. 
Assessment Administration 
The District will contract to levy and administer the collection of non-ad valorem 
assessment on all assessable property within the District. 
Management Fees 
The District has contracted with Governmental Management Services-Central 
Florida, LLC to provide Management, Accounting and Recording Secretary 
Services for the District. The services include, but not limited to, recording and 
transcription of board meetings, budget preparation, all financial reporting, annual 
audit, etc. 
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Storey Drive 
Community Development District 
GENERAL FUND BUDGET 
Information Technology 
The District has contracted with Governmental Management Services-Central 
Florida, LLC for costs related to the District’s information systems, which include 
but are not limited to video conferencing services, cloud storage services and 
servers, positive pay implementation and programming for fraud protection, 
accounting software, tablets for meetings, Adobe, Microsoft Office, etc. 
Website Maintenance 
The District has contracted with Governmental Management Services-Central 
Florida, LLC for costs associated with monitoring and maintaining the District’s 
website created in accordance with Chapter 189, Florida Statues. These services 
include site performance assessments, security and firewall maintenance, 
updates, document uploads, hosting and domain renewals, website backups, etc. 
Telephone 
Telephone and fax machine. 
Postage 
Mailing of agenda packages, overnight deliveries, correspondence, etc. 
Printing & Binding 
Printing and Binding agenda packages for board meetings, printing of 
computerized checks, stationary, envelopes etc. 
Insurance 
The District’s general liability and public officials liability insurance coverage is 
provided by Florida Insurance Alliance (FIA). FIA specializes in providing 
insurance coverage to governmental agencies. 
Legal Advertising 
The District is required to advertise various notices for monthly Board meetings, 
public hearings, etc in a newspaper of general circulation. 
Other Current Charges 
Bank charges and any other miscellaneous expenses incurred during the year. 
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Storey Drive 
Community Development District 
GENERAL FUND BUDGET 
Office Supplies 
Miscellaneous office supplies. 
Dues, Licenses & Subscriptions 
The District is required to pay an annual fee to the Florida Department of Economic 
Opportunity for $175. This is the only expense under this category for the District. 
Operations & Maintenance: 
Field Services 
The District has contracted with Governmental Management Services-Central 
Florida, LLC for onsite field management of contracts for the District such as 
landscape and lake maintenance. Services to include onsite inspections, meetings 
with contractors, monitoring of utility accounts, attend Board meetings and receive 
and respond to property owner phone calls and emails. 
Property Insurance 
Represents estimated costs for the annual coverage of property insurance. 
Coverage will be provided by Florida Insurance Alliance (FIA). FIA specializes in 
providing insurance coverage to governmental agencies. 
Electric 
Represents estimated cost of electric services for items such as monument 
lighting, irrigation meters, etc. 
Water & Sewer 
Represents estimated cost of water services for areas within the district such as 
main entrance, irrigated turf and landscaping around ponds. 
Landscape Maintenance 
The District will maintain the landscaping within the common areas of the District 
after installation of landscape material has been completed. Budgeted amount is 
based on proposals from Cherry Lake Inc. for Phases 1 and 2. 
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Storey Drive 
Community Development District 
GENERAL FUND BUDGET 
Landscape Contingency 
Represents estimated costs for any additional landscape expenses not covered 
under the monthly landscape maintenance contract. 
Irrigation Repairs 
Represents estimated costs for any repairs to the irrigation system. 
Lake Maintenance 
Represents cost to maintain four stormwater retention ponds. Amount is based on 
proposal from Applied Aquatic Management, Inc. for monthly maintenance and as 
needed clean-up/treatments. 
Pressure Washing 
Represents estimated cost to pressure wash areas within the District boundaries. 
Repairs & Maintenance 
Represents general repairs and maintenance costs that are not budgeted under 
any other budgeted line item. 
Contingency 
Represents any additional field expense that may not have been provided for in 
the budget. 
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Proposed Actual Projected Total Adopted 
Budget Thru Next 3 Thru Budget 
FY2023 6/30/23 Months 9/30/23 FY2024 
Revenues 
Special Assessments $536,213 $543,367 $0 $543,367 $536,213 
Interest $0 $17,484 $3,500 $20,984 $12,000 
Carry Forward Surplus $169,149 $169,161 $0 $169,161 $200,763 
Total Revenues $705,362 $730,012 $3,500 $733,512 $748,976 
Expenditures 
Interest Expense - 12/15 $169,131 $169,131 $0 $169,131 $166,581 
Principal Expense - 06/15 $200,000 $200,000 $0 $200,000 $205,000 
Interest Expense - 06/15 $169,131 $169,131 $0 $169,131 $166,581 
Total Expenditures $538,263 $538,263 $0 $538,263 $538,163 
Other Sources/(Uses) 
Transfer In/(Out) $0 ($6,913) $1,400 ($5,513) ($4,980) 
Total Sources/(Uses) $0 ($6,913) $1,400 ($5,513) ($4,980) 
Total Expenditures $538,263 $531,350 $1,400 $532,750 $533,183 
Excess Revenues/(Expenditures) $167,100 $198,663 $2,100 $200,763 $215,793 
Interest - 12/15/2024 $163,968 
Total $163,968 
Net Assessment $536,213 
Collection Cost (6%) $34,226 
Gross Assessment $570,439 
Property Type Units Gross Per Unit Gross Total 
Condo 256 885.82 $226,770 
Townhome 200 $1,102 $220,308 
Single Family 70 $1,762 $123,359 
Total 526 $570,437 
Storey Drive 
Community Development District 
Fiscal Year 2024 
Debt Service Fund 
Series 2022 
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Date Balance Principal Interest Annual 
12/15/23 $ 9,510,000 $ - $ 166,581.25 $ 166,581.25 
6/15/24 $ 9,510,000 $ 205,000 $ 166,581.25 $ - 
12/15/24 $ 9,305,000 $ - $ 163,967.50 $ 535,548.75 
6/15/25 $ 9,305,000 $ 210,000 $ 163,967.50 $ - 
12/15/25 $ 9,095,000 $ - $ 161,290.00 $ 535,257.50 
6/15/26 $ 9,095,000 $ 215,000 $ 161,290.00 $ - 
12/15/26 $ 8,880,000 $ - $ 158,548.75 $ 534,838.75 
6/15/27 $ 8,880,000 $ 220,000 $ 158,548.75 $ - 
12/15/27 $ 8,660,000 $ - $ 155,743.75 $ 534,292.50 
6/15/28 $ 8,660,000 $ 225,000 $ 155,743.75 $ - 
12/15/28 $ 8,435,000 $ - $ 152,368.75 $ 533,112.50 
6/15/29 $ 8,435,000 $ 235,000 $ 152,368.75 $ - 
12/15/29 $ 8,200,000 $ - $ 148,843.75 $ 536,212.50 
6/15/30 $ 8,200,000 $ 240,000 $ 148,843.75 $ - 
12/15/30 $ 7,960,000 $ - $ 145,243.75 $ 534,087.50 
6/15/31 $ 7,960,000 $ 245,000 $ 145,243.75 $ - 
12/15/31 $ 7,715,000 $ - $ 141,568.75 $ 531,812.50 
6/15/32 $ 7,715,000 $ 255,000 $ 141,568.75 $ - 
12/15/32 $ 7,460,000 $ - $ 137,743.75 $ 534,312.50 
6/15/33 $ 7,460,000 $ 265,000 $ 137,743.75 $ - 
12/15/33 $ 7,195,000 $ - $ 133,437.50 $ 536,181.25 
6/15/34 $ 7,195,000 $ 270,000 $ 133,437.50 $ - 
12/15/34 $ 6,925,000 $ - $ 129,050.00 $ 532,487.50 
6/15/35 $ 6,925,000 $ 280,000 $ 129,050.00 $ - 
12/15/35 $ 6,645,000 $ - $ 124,500.00 $ 533,550.00 
6/15/36 $ 6,645,000 $ 290,000 $ 124,500.00 $ - 
12/15/36 $ 6,355,000 $ - $ 119,787.50 $ 534,287.50 
6/15/37 $ 6,355,000 $ 300,000 $ 119,787.50 $ - 
12/15/37 $ 6,055,000 $ - $ 114,912.50 $ 534,700.00 
6/15/38 $ 6,055,000 $ 310,000 $ 114,912.50 $ - 
12/15/38 $ 5,745,000 $ - $ 109,875.00 $ 534,787.50 
6/15/39 $ 5,745,000 $ 320,000 $ 109,875.00 $ - 
12/15/39 $ 5,425,000 $ - $ 104,675.00 $ 534,550.00 
6/15/40 $ 5,425,000 $ 330,000 $ 104,675.00 $ - 
12/15/40 $ 5,095,000 $ - $ 99,312.50 $ 533,987.50 
6/15/41 $ 5,095,000 $ 340,000 $ 99,312.50 $ - 
12/15/41 $ 4,755,000 $ - $ 93,787.50 $ 533,100.00 
6/15/42 $ 4,755,000 $ 350,000 $ 93,787.50 $ - 
12/15/42 $ 4,405,000 $ - $ 88,100.00 $ 531,887.50 
6/15/43 $ 4,405,000 $ 365,000 $ 88,100.00 $ - 
12/15/43 $ 4,040,000 $ - $ 80,800.00 $ 533,900.00 
6/15/44 $ 4,040,000 $ 380,000 $ 80,800.00 $ - 
12/15/44 $ 3,660,000 $ - $ 73,200.00 $ 534,000.00 
6/15/45 $ 3,660,000 $ 395,000 $ 73,200.00 $ - 
12/15/45 $ 3,265,000 $ - $ 65,300.00 $ 533,500.00 
6/15/46 $ 3,265,000 $ 410,000 $ 65,300.00 $ - 
12/15/46 $ 2,855,000 $ - $ 57,100.00 $ 532,400.00 
6/15/47 $ 2,855,000 $ 430,000 $ 57,100.00 $ - 
12/15/47 $ 2,425,000 $ - $ 48,500.00 $ 535,600.00 
6/15/48 $ 2,425,000 $ 445,000 $ 48,500.00 $ - 
12/15/48 $ 1,980,000 $ - $ 39,600.00 $ 533,100.00 
6/15/49 $ 1,980,000 $ 465,000 $ 39,600.00 $ - 
12/15/49 $ 1,515,000 $ - $ 30,300.00 $ 534,900.00 
6/15/50 $ 1,515,000 $ 485,000 $ 30,300.00 $ - 
12/15/50 $ 1,030,000 $ - $ 20,600.00 $ 535,900.00 
6/15/51 $ 1,030,000 $ 505,000 $ 20,600.00 $ - 
12/15/51 $ 525,000 $ - $ 10,500.00 $ 536,100.00 
6/15/52 $ 525,000 $ 525,000 $ 10,500.00 $ 535,500.00 
Totals $ 9,510,000 $ 6,150,475 $ 15,660,475.00 
(Term Bonds Combined) 
Amortization Schedule 
Storey Drive 
Series 2022, Special Assessment Bonds 
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