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Version 2 - Adopted Budget:

OVEROAKSCommunity Development District

Annual Operating and Debt Service BudgetFiscal Year 2013

(Adopted at 8/14/12 meeting)

Prepared by:


Page #

OPERATING BUDGET

General Fund

Summary of Revenues, Expenditures and Changes in Fund Balances …………………………….. 1-2

Exhibit A - Allocation of Fund Balances …………………………………………………………………. 3

Budget Narrative …………………………………………………………………………………………… 4-8

DEBT SERVICE BUDGETS

Series 2008-1

Summary of Revenues, Expenditures and Changes in Fund Balances …………………………….. 9

Amortization Schedule …………………………………………………………………………………….. 10

Series 2008-2



Series 2010A-1



Series 2010A-2 and 2010B


Amortization Schedule …………………………………………………………………………………….. 16-17

Budget Narrative ………………………………………………………………………………………………… 18-19

SUPPORTING BUDGET SCHEDULES

2012-2013 Non-Ad Valorem Assessment Summary ……………………………………………………….. 20

Table of Contents

Fiscal Year 2013

OveroaksCommunity Development District

Operating Budget


General Fund

ADOPTED ACTUAL PROJECTED TOTAL ANNUAL

ACTUAL BUDGET THRU JUL - PROJECTED BUDGET

ACCOUNT DESCRIPTION FY 2011 FY 2012 JUN-2012 SEP-2012 FY 2012 FY 2013

Interest - Investments 953$ 1,000$ 1,494$ 240$ 1,734$ 1,800$

Interest - Tax Collector 117 - 34 - 34 -

Special Assmnts- Tax Collector 90,428 265,057 264,886 260 265,146 345,744

Special Assmnts- HOA 167,454 - - - - -

Special Assmnts- CDD Collected 82,590 75,849 54,189 21,659 75,848 -

Special Assmnts- Delinquent 4,453 - - - - -

Special Assmnts- Discounts (9,118) (10,602) (9,189) - (9,189) (13,830)

Other Miscellaneous Revenues 3,153 - 3,841 - 3,841 -

TOTAL REVENUES 340,030 331,304 315,255 22,159 337,414 333,714

EXPENDITURES

Administrative

P/R-Board of Supervisors 3,600 4,000 1,600 800 2,400 4,000

FICA Taxes 271 306 126 61 187 306

ProfServ-Engineering 887 2,000 25 - 25 2,000

ProfServ-Legal Services 6,391 4,000 2,547 500 3,047 4,000

ProfServ-Mgmt Consulting Serv 50,460 50,460 37,845 12,615 50,460 50,460

ProfServ-Property Appraiser - 1,100 - - - 1,100

ProfServ-Special Assessment 2,750 2,750 2,750 - 2,750 2,750

Auditing Services 8,300 8,300 8,300 - 8,300 8,000

Communication - Telephone 97 150 15 85 100 150

Postage and Freight 483 650 341 159 500 650

Insurance - General Liability 5,000 5,500 10,875 - 10,875 12,506

Printing and Binding 2,848 1,200 1,347 300 1,647 1,200

Legal Advertising 361 1,700 163 237 400 1,700

Miscellaneous Services 949 600 733 250 983 600

Misc-Assessmnt Collection Cost (195) 5,301 5,113 5 5,118 6,915

Misc-Contingency - 20,120 56 - 56 14,210

Office Supplies 199 250 154 46 200 250

Annual District Filing Fee 175 175 175 - 175 175

Total Administrative 82,576 108,562 72,165 15,058 87,223 110,972

Home Owner Association

Misc-Assessmnt Collection Cost 3,231 - - - - -

The Oaks Master Association 60,608 - - - - -

Shingle Creek Resv at The Oaks 48,833 - - - - -

Total Home Owner Association 112,672 - - - - -

REVENUES

Summary of Revenues, Expenditures and Changes in Fund BalancesFiscal Year 2013 Adopted Budget

Annual Operating and Debt Service Budget Fiscal Year 2013

1


General Fund





The Oaks Mater Association

ProfServ-Field Management - 5,000 3,750 1,250 5,000 5,000

Contracts-Landscape - 85,700 49,328 17,450 66,778 85,700

Contracts-Lakes - 3,500 2,218 742 2,960 3,500

Utility - General - 7,500 2,352 784 3,136 3,500

R&M-Signage - 3,000 - - - 3,000

Misc-Contingency - 22,082 - - - 26,082

Total The Oaks Mater Association - 126,782 57,648 20,226 77,874 126,782

Shingle Creek Reserve

ProfServ-Field Management - 5,000 3,750 1,250 5,000 5,000

Contracts-Landscape - 54,900 34,569 12,137 46,706 54,900

Contracts-Lakes - 12,000 4,312 1,444 5,756 6,000

Utility - General - 10,000 7,757 2,586 10,343 10,000

R&M-Parks - 10,000 1,264 - 1,264 10,000

R&M-Signage - 3,000 - - - 3,000

Misc-Contingency - 1,060 - - - 7,060

Total Shingle Creek Reserve - 95,960 51,652 17,416 69,068 95,960

TOTAL EXPENDITURES 195,248 331,304 181,465 52,701 234,166 333,714

Excess (deficiency) of revenues

Over (under) expenditures 144,782 - 133,790 (30,542) 103,248 -

Net change in fund balance 144,782 - 133,790 (30,542) 103,248 -

FUND BALANCE, BEGINNING 134,809 279,591 279,591 - 279,591 382,839

FUND BALANCE, ENDING 279,591$ 279,591$ 413,381$ (30,542)$ 382,839$ 382,839$


2


General Fund

AVAILABLE FUNDS

Amount

Beginning Fund Balance - Fiscal Year 2013 382,839$

Net Change in Fund Balance - Fiscal Year 2013 -

Reserves - Fiscal Year 2013 Additions -

Total Funds Available (Estimated) - 9/30/2013 382,839

Nonspendable Fund Balance

Deposits 1,070

Subtotal 1,070

Assigned Fund Balance

Operating Reserve - First Quarter Operating Capital 83,429 (1)

Subtotal 83,429

Total Allocation of Available Funds 84,499

Total Unassigned (undesignated) Cash 298,341$

Notes

(1) Represents approximately 3 months of operating expenditures

ALLOCATION OF AVAILABLE FUNDS

Allocation of Fund Balances

Exhibit "A"


3

Overoaks Community Development District General Fund

Budget Narrative Fiscal Year 2013

Annual Operating and Debt Service Budget

Fiscal Year 2013

REVENUES Interest - Investments The District earns interest income on their checking account with Wachovia Bank N.A and other investments. Special Assessment – Tax Collector 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. Special Assessment – CDD Collected The District will levy a Non-Ad Valorem assessment on all acres or parcels within the District that belongs to the SPE Overoaks Holdings, LLC in order to pay for the operating expenditures during the Fiscal Year. Special Assessment – Discounts Per Section 197.3632 and Section 197.162 of the Florida Statues, discounts are allowed for early payment of assessments collected by the Tax Collector and only when the Tax Collector is using the uniform methodology. The budgeted amount for the fiscal year is calculated at 4% of the anticipated Non-Ad Valorem assessments. EXPENDITURES

Expenditures - Administrative

P/R-Board of Supervisors 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 all the 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. Professional Services-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. Professional Services-Legal Services The District's legal counsel will provide general legal services to the District, i.e. attendance and preparation for monthly meetings, review of operating and maintenance contracts, and other specifically requested assignments.

4




Fiscal Year 2013

Expenditures - Administrative (continued) Professional Services- Management Services The District receives Management, Accounting and Administrative services as part of a Management Agreement with Severn Trent Environmental Services, Inc. The budgeted amount for the fiscal year is based on the contracted fees outlined in Exhibit "A" of the Management Agreement. Professional Services - Property Appraiser The Property Appraiser provides the District with a listing of the legal description of each property parcel within the District boundaries, and the names and addresses of the owners of such property. The District reimburses the Property Appraiser for necessary administrative costs incurred to provide this service. Per the Florida Statutes, administrative costs shall include, but not be limited to, those costs associated with personnel, forms, supplies, data processing, computer equipment, postage, and programming. The FY2013 budget for property appraiser costs was based on a unit price per parcel. Professional Services – Special Assessment Administrative costs to prepare the District’s Special Assessment Roll.

Auditing Services 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 prior year’s engagement letter. Communication – Telephone Telephone and fax machine expenses.

Postage & Freight 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 Public Risk Insurance Agency. Public Risk Insurance Agency specializes in providing insurance coverage to governmental agencies. The budgeted amount for the fiscal year is based on prior year premiums plus any anticipated market adjustments.

Printing & 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. Miscellaneous Services Bank charges and any other miscellaneous expenses that incurred during the year Misc - Assessment Collection Cost The District reimburses the Osceola County Tax Collector for her or his necessary administrative costs. Per the Florida Statutes, administrative costs shall include, but not be limited to, those costs associated with personnel, forms, supplies, data processing, computer equipment, postage, and programming. The District also compensates the Tax Collector for the actual cost of collection or 2% on the amount of special assessments collected and remitted, whichever is greater. The FY2013 budget for collection costs was based on a maximum of 2% of the anticipated assessment collections.

5




Fiscal Year 2013

Expenditures - Administrative (continued) Misc - Contingency This category provides funds for administrative expenses that may not have been budgeted anywhere else. Office Supplies Supplies used in the preparation and binding of agenda packages, required mailings, and other special projects. Annual district filling fee The District is required to pay an annual fee of $175 to the Department of Community Affairs. Expenditures – The Oaks Master Association

Professional Service-Field Management $5,000 The District will contract management services for the operation of the Property and its contractors Contracts-Lakes $3,500 Scheduled maintenance consists of monthly inspections and treatment of lakes. Herbicide will consist of chemical

treatments. Algae control will include hand removal and chemical treatments of the lakes and waterways contract with Estate Management Services, Inc.

Contracts-Landscape $85,700 Scheduled maintenance consists of pruning, mowing, edging, blowing, and applying pest and disease control

chemicals to sod. Unscheduled maintenance consists of replacing damaged sod and adding new sod.

Contract (Stelley Lawn Services, Inc.) $ 35,400 Contract (Alan’s Tree & Lawn Services) $ 10,800 Unscheduled Maintenance $ 5,000

R&M-Mulch $ 6,500 This is replacement of mulch. R&M-Sod Replacement $ 5,000

This is for replacement of sod. R&M-Plant Replacement $ 5,000

This is for replacement of dead plants and maintenance of plants. R&M-Tree Trimming Services $ 5,000

Scheduled maintenance consists of pruning, trimming, fertilizing, and chemicals for trees.

6




Fiscal Year 2013

Expenditures – The Oaks Master Association (continued) Contracts-Landscape (continued) R&M-Irrigation $ 4,000

Scheduled maintenance consists of regular inspections, adjustments to controller and irrigation heads, minor system repairs, and purchase of irrigation supplies.

R&M-Pest Control $ 9,000 Scheduled maintenance consists of applying pest and disease control chemicals and lawn fertilizer. Utility-General $3,500 This is for electricity and reclaimed water for accounts with Kissimmee Utility Authority. R&M-Signage $3,000 Scheduled maintenance of the signage consists of cleaning and general maintenance. Unscheduled maintenance consists of minor repair and replacement, touch-up painting. Misc. Contingency $26,082 This category is for any other field-related expenditure that is not cover in other categories. Expenditures – Shingle Creek Reserve at the Oaks

Professional Service-Field Management $5,000 The District will contract management services for the operation of the Property and its contractors Contracts-Landscape $54,900 Scheduled maintenance consists of pruning, mowing, edging, blowing, and applying pest and disease control chemicals to sod. Unscheduled maintenance consists of replacing damaged sod and adding new sod.

Contract (Stelley Lawn Services, Inc.) $ 26,050 Unscheduled Maintenance $ 10,000

R&M-Mulch $ 4,850 This is replacement of mulch.

R&M-Plant Replacement $ 4,000

This is for replacement of dead plants and maintenance of plants. R&M-Irrigation $ 4,000

Scheduled maintenance consists of regular inspections, adjustments to controller and irrigation heads, minor system repairs, and purchase of irrigation supplies.

R&M-Pest Control $ 6,000 Scheduled maintenance consists of applying pest and disease control chemicals and lawn fertilizer.

7




Fiscal Year 2013

Expenditures – Shingle Creek Reserve at the Oaks (continued) Contracts-Lakes $6,000 Scheduled maintenance consists of monthly inspections and treatment of lakes. Herbicide well consist of chemical treatments. Algae control will include hand removal and chemical treatments of the lakes and waterways contract with Estate Management Services, Inc. Utility-General $10,000 This is for electricity and reclaimed water for accounts with Kissimmee Utility Authority. R&M-Parks $10,000 Scheduled maintenance includes repairs and replacements of equipment in the park areas, playground, natural trails maintenance and boatlift maintenance. R&M - Signage $3,000 Scheduled maintenance of the signage consists of cleaning and general maintenance. Unscheduled maintenance consists of minor repairs and replacement, and touch-up painting. Misc. Contingency $7,060 This category is for any other field-related expenditure that is not cover in other categories.

8


Debt Service BudgetsFiscal Year 2013


Series 2008-1 A/B Debt Service Fund




Interest - Investments 463$ 50$ 115$ 30$ 145$ 50$

Special Assmnts- Tax Collector 384,268 384,268 383,794 474 384,268 337,770


TOTAL REVENUES 371,144 368,947 370,588 504 371,092 324,309

EXPENDITURES

Administrative

ProfServ-Dissemination Agent 500 500 - 500 500 500

ProfServ-Trustee 3,771 3,775 3,771 - 3,771 3,775

Misc-Assessmnt Collection Cost 4,524 7,685 7,413 9 7,422 6,755

Total Administrative 8,795 11,960 11,184 509 11,693 11,030

Debt Service

Debt Retirement Series A 250,000 255,000 255,000 - 255,000 265,000

Debt Retirement Series B 40,000 35,000 40,000 - 40,000 -

Principal Prepayments Series A 5,000 - 5,000 - 5,000 -

Interest Expense Series A 71,418 62,143 61,864 - 61,864 52,311

Interest Expense Series B 2,875 1,299 1,484 - 1,484 -

Total Debt Service 369,293 353,442 363,348 - 363,348 317,311

TOTAL EXPENDITURES 378,088 365,402 374,532 509 375,041 328,341


Over (under) expenditures (6,944) 3,545 (3,944) (5) (3,949) (4,032)

OTHER FINANCING SOURCES (USES)

Contribution to (Use of) Fund Balance - 3,545 - - - (4,032)

TOTAL OTHER SOURCES (USES) - 3,545 - - - (4,032)

Net change in fund balance (6,944) 3,545 (3,944) (5) (3,949) (4,032)


FUND BALANCE, ENDING 170,911$ 174,456$ 166,967$ (5)$ 166,962$ 162,929$

REVENUES



9

OVEROAKS Community Development District

Series 2008-1 A - Debt Service Fund

AMORTIZATION SCHEDULE

SERIES 2008-1 Ref of Series 1996A CAPITAL IMPROVEMENT REVENUE BONDS

DATE BALANCE RATE PRINCIPAL INTEREST TOTAL

11/1/2012 1,410,000$ 3.71% - 26,155.50$

5/1/2013 1,410,000 3.71% 265,000 26,155.50 317,311.00

11/1/2013 1,145,000 3.71% - 21,239.75

5/1/2014 1,145,000 3.71% 275,000 21,239.75 317,479.50

11/1/2014 870,000 3.71% - 16,138.50

5/1/2015 870,000 3.71% 285,000 16,138.50 317,277.00

11/1/2015 585,000 3.71% - 10,851.75

5/1/2016 585,000 3.71% 285,000 10,851.75 306,703.50

11/1/2016 300,000 3.71% - 5,565.00

5/1/2017 300,000 3.71% 300,000 5,565.00 311,130.00

Total 1,410,000$ 159,901.00$ 1,569,901.00$


10


Series 2008-2 Debt Service Fund





Special Assmnts- Tax Collector 53,210 53,210 53,210 - 53,210 53,210


TOTAL REVENUES 51,371 51,102 51,377 6 51,383 51,091

EXPENDITURES

Administrative

ProfServ-Dissemination Agent 500 500 - 500 500 500

ProfServ-Trustee 2,694 2,700 2,694 - 2,694 2,700

Misc-Assessmnt Collection Cost 626 1,064 1,026 - 1,026 1,064

Total Administrative 3,820 4,264 3,720 500 4,220 4,264

Debt Service

Principal Debt Retirement 40,000 35,000 35,000 - 35,000 35,000

Principal Prepayments 5,000 - - - - -

Interest Expense 10,666 9,090 9,090 - 9,090 7,791


TOTAL EXPENDITURES 59,486 48,354 47,810 500 48,310 47,055


Over (under) expenditures (8,115) 2,748 3,567 (494) 3,073 4,036


Contribution to (Use of) Fund Balance - 2,748 - - - 4,036

TOTAL OTHER SOURCES (USES) - 2,748 - - - 4,036

Net change in fund balance (8,115) 2,748 3,567 (494) 3,073 4,036


FUND BALANCE, ENDING 13,781$ 16,529$ 17,348$ (494)$ 16,854$ 20,890$

REVENUES



11


Series 2008-2 - Debt Service Fund


SERIES 2008-2 Ref of Series 1998 CAPITAL IMPROVEMENT REVENUE BONDS


11/1/2012 210,000 3.71% - 3,895.50

5/1/2013 210,000 3.71% 35,000 3,895.50 42,791.00

11/1/2013 175,000 3.71% - 3,246.25

5/1/2014 175,000 3.71% 40,000 3,246.25 46,492.50

11/1/2014 135,000 3.71% - 2,504.25

5/1/2015 135,000 3.71% 45,000 2,504.25 50,008.50

11/1/2015 90,000 3.71% - 1,669.50

5/1/2016 90,000 3.71% 45,000 1,669.50 48,339.00

11/1/2016 45,000 3.71% - 834.75

5/1/2017 45,000 3.71% 45,000 834.75 46,669.50

Total 210,000$ 24,300.50$ 234,300.50$


12


Series 2010A-1 Debt Service Fund





Special Assmnts- Tax Collector 127,430 127,430 127,430 - 127,430 127,430


TOTAL REVENUES 122,973 122,343 123,033 6 123,039 122,353

EXPENDITURES

Administrative

ProfServ-Arbitrage Rebate 600 600 (600) - (600) -

ProfServ-Dissemination Agent 1,000 500 - 500 500 500

ProfServ-Trustee 5,000 3,775 - 3,775 3,775 3,775

Misc-Assessmnt Collection Cost 1,500 2,549 2,458 - 2,458 2,549

Total Administrative 8,100 7,424 1,858 4,275 6,133 6,824

Debt Service

Principal Debt Retirement A-1 25,000 30,000 30,000 - 30,000 30,000

Interest Expense Series A-1 70,342 91,569 91,569 - 91,569 89,731


TOTAL EXPENDITURES 103,442 128,993 123,427 4,275 127,702 126,555


Over (under) expenditures 19,531 (6,650) (394) (4,269) (4,663) (4,202)


Contribution to (Use of) Fund Balance - (6,650) - - - (4,202)

TOTAL OTHER SOURCES (USES) - (6,650) - - - (4,202)

Net change in fund balance 19,531 (6,650) (394) (4,269) (4,663) (4,202)


FUND BALANCE, ENDING 41,120$ 34,470$ 40,726$ (4,269)$ 36,457$ 32,255$

REVENUES



13


Series 2010A-1 - Debt Service Fund


SERIES 2010A-1 Restructure of Series 2004A CAPITAL IMPROVEMENT REVENUE BONDS

DATE BALANCE RATE PRINCIPAL SPECIAL CALL INTEREST TOTAL

11/1/2012 1,465,000 6.125% - 44,865.63

5/1/2013 1,465,000 6.125% 30,000 44,865.63 119,731.26

11/1/2013 1,435,000 6.125% - 43,946.88

5/1/2014 1,435,000 6.125% 30,000 43,946.88 117,893.76

11/1/2014 1,405,000 6.125% - 43,028.13

5/1/2015 1,405,000 6.125% 35,000 43,028.13 121,056.26

11/1/2015 1,370,000 6.125% - 41,956.25

5/1/2016 1,370,000 6.125% 35,000 41,956.25 118,912.50

11/1/2016 1,335,000 6.125% - 40,884.38

5/1/2017 1,335,000 6.125% 40,000 40,884.38 121,768.76

11/1/2017 1,295,000 6.125% - 39,659.38

5/1/2018 1,295,000 6.125% 40,000 39,659.38 119,318.76

11/1/2018 1,255,000 6.125% - 38,434.38

5/1/2019 1,255,000 6.125% 45,000 38,434.38 121,868.76

11/1/2019 1,210,000 6.125% - 37,056.25

5/1/2020 1,210,000 6.125% 45,000 37,056.25 119,112.50

11/1/2020 1,165,000 6.125% - 35,678.13

5/1/2021 1,165,000 6.125% 50,000 35,678.13 121,356.26

11/1/2021 1,115,000 6.125% - 34,146.88

5/1/2022 1,115,000 6.125% 50,000 34,146.88 118,293.76

11/1/2022 1,065,000 6.125% - 32,615.63

5/1/2023 1,065,000 6.125% 55,000 32,615.63 120,231.26

11/1/2023 1,010,000 6.125% - 30,931.25

5/1/2024 1,010,000 6.125% 60,000 30,931.25 121,862.50

11/1/2024 950,000 6.125% - 29,093.75

5/1/2025 950,000 6.125% 65,000 29,093.75 123,187.50

11/1/2025 885,000 6.125% - 27,103.13

5/1/2026 885,000 6.125% 65,000 27,103.13 119,206.26

11/1/2026 820,000 6.125% - 25,112.50

5/1/2027 820,000 6.125% 70,000 25,112.50 120,225.00

11/1/2027 750,000 6.125% - 22,968.75

5/1/2028 750,000 6.125% 75,000 22,968.75 120,937.50

11/1/2028 675,000 6.125% - 20,671.88

5/1/2029 675,000 6.125% 80,000 20,671.88 121,343.76

11/1/2029 595,000 6.125% - 18,221.88

5/1/2030 595,000 6.125% 85,000 18,221.88 121,443.76

11/1/2030 510,000 6.125% - 15,618.75

5/1/2031 510,000 6.125% 90,000 15,618.75 121,237.50

11/1/2031 420,000 6.125% - 12,862.50

5/1/2032 420,000 6.125% 95,000 12,862.50 120,725.00

11/1/2032 325,000 6.125% - 9,953.13

5/1/2033 325,000 6.125% 100,000 9,953.13 119,906.26

11/1/2033 225,000 6.125% - 6,890.63

5/1/2034 225,000 6.125% 110,000 6,890.63 123,781.26

11/1/2034 115,000 6.125% - 3,521.88

5/1/2035 115,000 6.125% 115,000 3,521.88 122,043.76

Total 1,465,000.00$ -$ 1,310,443.90$ 2,775,443.90$


14


Series 2010A-2 and B Debt Service Fund




Interest - Investments -$ -$ 21$ 12$ 33$ 10$

Special Assmnts- Tax Collector 286,280

Special Assmnts- Prepayment - - 423,885 - 423,885 -

Special Assmnts- CDD Collected - - - - - 385,656

Special Assmnts- Discounts - - - - - (11,451)

TOTAL REVENUES - - 423,906 12 423,918 660,495

EXPENDITURES

Administrative

ProfServ-Arbitrage Rebate - - - - - 600

ProfServ-Dissemination Agent - - - - - 500

ProfServ-Trustee - - - - - 5,150

Misc-Assessmnt Collection Cost - - - - - 5,726

Total Administrative - - - - - 11,976

Debt Service

Principal Debt Retirement A-2 - - - - - 62,965

Interest Expense Series A-2 - - - - - 201,819

Interest Expense Series B - - - - - 385,656

Total Debt Service - - - - - 650,440

TOTAL EXPENDITURES - - - - - 662,416


Over (under) expenditures - - 423,906 12 423,918 (1,921)


Other NonOperating Uses - - (16) - (16) -

Contribution to (Use of) Fund Balance - - - - - (1,921)

TOTAL OTHER SOURCES (USES) - - (16) - (16) (1,921)

Net change in fund balance - - 423,890 12 423,902 (1,921)

FUND BALANCE, BEGINNING - - 205 - 205 424,107

FUND BALANCE, ENDING -$ -$ 424,095$ 12$ 424,107$ 422,186$



15


Series 2010A-2 - Debt Service Fund


SERIES 2010A-2 Restructure of Series 2004A CAPITAL IMPROVEMENT REVENUE BONDS (CAB)

DATE BALANCE RATE PRINCIPAL SPECIAL CALL INTEREST TOTAL

11/1/2012 2,963,852.50$ 6.125% -$ 100,909.38$

5/1/2013 2,963,852.50 6.125% 62,965.00 100,909.38 264,783.75

11/1/2013 2,900,887.50 6.125% - 98,765.63 -$

5/1/2014 2,900,887.50 6.125% 62,965.00 98,765.63 260,496.25

11/1/2014 2,837,922.50 6.125% - 96,621.88

5/1/2015 2,837,922.50 6.125% 67,462.50 96,621.88 260,706.25

11/1/2015 2,770,460.00 6.125% - 94,325.00

5/1/2016 2,770,460.00 6.125% 71,960.00 94,325.00 260,610.00

11/1/2016 2,698,500.00 6.125% - 91,875.00

5/1/2017 2,698,500.00 6.125% 76,457.50 91,875.00 260,207.50

11/1/2017 2,622,042.50 6.125% - 89,271.88

5/1/2018 2,622,042.50 6.125% 80,955.00 89,271.88 259,498.75

11/1/2018 2,541,087.50 6.125% - 86,515.63

5/1/2019 2,541,087.50 6.125% 85,452.50 86,515.63 258,483.75

11/1/2019 2,455,635.00 6.125% - 83,606.25

5/1/2020 2,455,635.00 6.125% 94,447.50 83,606.25 261,660.00

11/1/2020 2,361,187.50 6.125% - 80,390.63

5/1/2021 2,361,187.50 6.125% 98,945.00 80,390.63 259,726.25

11/1/2021 2,262,242.50 6.125% - 77,021.88

5/1/2022 2,262,242.50 6.125% 103,442.50 77,021.88 257,486.25

11/1/2022 2,158,800.00 6.125% - 73,500.00

5/1/2023 2,158,800.00 6.125% 112,437.50 73,500.00 259,437.50

11/1/2023 2,046,362.50 6.125% - 69,671.88

5/1/2024 2,046,362.50 6.125% 116,935.00 69,671.88 256,278.75

11/1/2024 1,929,427.50 6.125% - 65,690.63

5/1/2025 1,929,427.50 6.125% 125,930.00 65,690.63 257,311.25

11/1/2025 1,803,497.50 6.125% - 61,403.13

5/1/2026 1,803,497.50 6.125% 134,925.00 61,403.13 257,731.25

11/1/2026 1,668,572.50 6.125% - 56,809.38

5/1/2027 1,668,572.50 6.125% 143,920.00 56,809.38 257,538.75

11/1/2027 1,524,652.50 6.125% - 51,909.38

5/1/2028 1,524,652.50 6.125% 152,915.00 51,909.38 256,733.75

11/1/2028 1,371,737.50 6.125% - 46,703.13

5/1/2029 1,371,737.50 6.125% 161,910.00 46,703.13 255,316.25

11/1/2029 1,209,827.50 6.125% - 41,190.63

5/1/2030 1,209,827.50 6.125% 170,905.00 41,190.63 253,286.25

11/1/2030 1,038,922.50 6.125% - 35,371.88

5/1/2031 1,038,922.50 6.125% 184,397.50 35,371.88 255,141.25

11/1/2031 854,525.00 6.125% - 29,093.75

5/1/2032 854,525.00 6.125% 193,392.50 29,093.75 251,580.00

11/1/2032 661,132.50 6.125% - 22,509.38

5/1/2033 661,132.50 6.125% 206,885.00 22,509.38 251,903.75

11/1/2033 454,247.50 6.125% - 15,465.63

5/1/2034 454,247.50 6.125% 220,377.50 15,465.63 251,308.75

11/1/2034 233,870.00 6.125% - 7,962.50

5/1/2035 233,870.00 6.125% 233,870.00 7,962.50 249,795.00

Total 2,963,852.50$ -$ 2,953,168.75$ 5,917,021.25$


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Series 2010B - Debt Service Fund


SERIES 2010B Restructure of Series 2004B CAPITAL IMPROVEMENT REVENUE BONDS (CAB)


11/1/2012 $6,885,299.75 5.125% -$ 192,828.13$ -$ 5/1/2013 6,885,299.75 5.125% - 192,828.13 385,656.26

11/1/2013 6,885,299.75 5.125% - 192,828.13

5/1/2014 6,885,299.75 5.125% - 192,828.13 385,656.26

11/1/2014 6,885,299.75 5.125% - 192,828.13

5/1/2015 6,885,299.75 5.125% - 192,828.13 385,656.26

11/1/2015 6,885,299.75 5.125% - 192,828.13

5/1/2016 6,885,299.75 5.125% - 192,828.13 385,656.26

11/1/2016 6,885,299.75 5.125% - 192,828.13

5/1/2017 6,885,299.75 5.125% 6,885,299.75 192,828.13 7,270,956.01

Total 6,885,299.75$ 1,928,281.30$ 8,813,581.05$


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Overoaks Community Development District Debt Services Funds



Fiscal Year 2013

REVENUES Interest - Investments The District earns interest income on their trust accounts with US Bank. Special Assessment – Tax Collector The District will levy a Non-Ad Valorem assessment on all sold and platted parcels within the District in order to pay for the debt service expenditures during the Fiscal Year. Special Assessment – CDD Collected The District will levy a Non-Ad Valorem assessment on all acres or parcels within the District that belongs to the SPE Overoaks Holdings, LLC in order to pay for the debt service expenditures during the Fiscal Year. Special Assessment – Discounts Per Section 197.3632 and Section 197.162 of the Florida Statues, discounts are allowed for early payment of assessments collected by the Tax Collector and only when the Tax Collector is using the uniform methodology. The budgeted amount for the fiscal year is calculated at 4% of the anticipated Non-Ad Valorem assessments. EXPENDITURES

Expenditures - Administrative

Professional Services - Arbitrage Rebate Calculation The District will contract with an independent certified public accountant to annually calculate the District's Arbitrage Rebate Liability on all the Series of Benefit Capital Improvement Revenue Bonds. The budgeted amount for the fiscal year is based on standard fees charged for this service.

Professional Services - Dissemination Agent The District is required by the Securities and Exchange Commission to comply with rule 15c2-12(b)-(5), which relates to additional reporting requirements for unrelated bond issues. The budgeted amount for the fiscal year is based on standard fees charged for this service. Professional Services - Trustee The District pays US Bank an annual fee for trustee services on all the Series Capital Improvement Revenue Bond. The budgeted amount for the fiscal year is based on standard fees charged plus any out-of-pocket expenses.

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Overoaks Community Development District Debt Services Funds



Fiscal Year 2013

Expenditures – Administrative (continued) Misc - Assessment Collection Cost The District reimburses the Osceola County Tax Collector for her or his necessary administrative costs. Per the Florida Statutes, administrative costs shall include, but not be limited to, those costs associated with personnel, forms, supplies, data processing, computer equipment, postage, and programming. The District also compensates the Tax Collector for the actual cost of collection or 2% on the amount of special assessments collected and remitted, whichever is greater. The FY2013 budget for collection costs was based on a maximum of 2% of the anticipated assessment collections. Expenditures – Debt Service Principal Debt Retirement The District pays regular principal payments annually in order to pay down/retire the debt. Interest Expense The District pays interest expense on the debt twice during the year.

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Supporting Budget SchedulesFiscal Year 2013


All Funds

Comparison of Non-Ad Valorem Assessment RatesFiscal Year 2013 vs. Fiscal Year 2012

Units

FY 2013 FY 2012 Percent FY 2013 FY 2012 Percent FY 2013 FY 2012 Percent FY 2013 FY 2012 PercentVillage Change Change Change Change

Eagles Nest $167.81 $167.81 0.00% $0.00 $0.00 n/a $355.54 $464.18 -23.40% $523.35 $631.99 -17.19% 84

Phase 1A-1 $167.81 $167.81 0.00% $0.00 $0.00 n/a $365.15 $365.15 0.00% $532.96 $532.96 0.00% 70

Phase 1A-1 $167.81 $167.81 0.00% $0.00 $0.00 n/a $365.15 $473.79 -22.93% $532.96 $641.60 -16.93% 71

Osprey Cove $167.81 $167.81 0.00% $0.00 $0.00 n/a $355.54 $464.18 -23.40% $523.35 $631.99 -17.19% 107

Osprey Cove $167.81 $167.81 0.00% $0.00 $0.00 n/a $355.54 $355.54 0.00% $523.35 $523.35 0.00% 9

Phase 1A-2 $167.81 $167.81 0.00% $0.00 $0.00 n/a $365.15 $473.79 -22.93% $532.96 $641.60 -16.93% 166

The Oaks Phase 1B-1 $167.81 $167.81 0.00% $0.00 $0.00 n/a $499.18 $499.18 0.00% $666.99 $666.99 0.00% 207

The Oaks Phase 1B-2 $167.81 $167.81 0.00% $0.00 $0.00 n/a $499.18 $499.18 0.00% $666.99 $666.99 0.00% 190

Tournament Court $167.81 $167.81 0.00% $0.00 $0.00 n/a $365.15 $365.15 0.00% $532.96 $532.96 0.00% 3

Tournament Court $167.81 $167.81 0.00% $0.00 $0.00 n/a $850.10 $850.10 0.00% $1,017.91 $1,017.91 0.00% 10

Shingle Creek Reserve $167.81 $167.81 0.00% $190.81 $190.81 0% $1,260.00 $630.00 100.00% $1,618.62 $988.63 63.72% 144

Shingle Creek Reserve $167.81 $167.81 0.00% $190.81 $190.81 0% $1,580.00 $790.00 100.00% $1,938.62 $1,148.63 68.78% 247

Shingle Creek Reserve $167.81 $167.81 0.00% $190.81 $190.81 0% $1,780.00 $890.00 100.00% $2,138.62 $1,248.63 71.28% 144

1,452

General Fund Debt Service Funds Total Assessments per UnitThe Oaks O&M Shingle Creek O&M


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