Adopted Budget	
Fiscal Year 2023	

Portofino Shores	
Community Development District	

July 5, 2022

Field	
Repairs & Maintenance	$10,000	
Roadway Maintenance	$5,000	
Lake Bank Restoration Reserves	$25,000	
Infrastructure Reserve	$22,450	
Total Field		$62,450 	

(1)

Portofino Shores	
Community Development District	

FY2022	
Adopted	
	Budget		

Actual	
thru	
	5/31/2022		

Projected	
Next	
  4 Months		

Total	
Projected at	
  9/30/2022 	

Revenues	
Unassigned Fund Balance	
Maintenance Assessments	
Misc/Interest Income	

 Description	

$248,885	
$185,094	
$0	

$205,953	$0	
$183,381	$1,713	
$1,101	$550	

$205,953	
$185,094	
$1,651	

Total Revenues		$433,979 		$390,435 		$2,263 		$392,698 

Administrative	
Engineering Fees	
Assessment Roll	
Property Appraiser	
Attorney Fees	
Annual Audit	
Trustee Fees	
Management Fees	
Computer Time	
Telephone	
Postage	
Rentals & Leases	
Insurance	
Printing & Binding	
Legal Advertising	
Other Current Charges	
Website Compliance	
Office Supplies	
Dues, Licenses	
Capital Outlay	
Contingencies	
Total Administrative	

Expenditures

$19,000	
$5,600	
$5,100	
$35,000	
$3,500	
$4,000	
$42,101	
$1,000	
$100	
$1,200	
$2,400	
$6,800	
$865	
$1,000	
$1,250	
$1,000	
$400	
$175	
$250	
$5,000	
	$135,740 	

$13,597	
$5,600	
$4,890	
$18,346	
$0	
$3,000	
$28,067	
$667	
$0	
$1,010	
$1,600	
$6,731	
$516	
$342	
$523	
$667	
$68	
$175	
$0	
$0	
	$85,798 	

$5,403		$19,000	
$0		$5,600	
$0		$4,890	
$9,173		$27,519	
$3,500		$3,500	
$0		$3,000	
$14,034		$42,101	
$333		$1,000	
$25		$25	
$190		$1,200	
$800		$2,400	
$0		$6,731	
$258		$774	
$171		$513	
$261		$784	
$333		$1,000	
$34		$101	
$0		$175	
$50		$50	
$1,500		$1,500	
	$36,065 			$121,863 	

FY2023	
Adopted	
	Budget	

$234,336
$211,731
$0	
	$446,067 

$19,000
$5,600
$5,100
$35,000
$3,600
$4,000
$50,521
$1,000
$100
$1,500
$2,400
$7,000
$865
$1,000
$1,250
$1,000
$400
$175
$250
$5,000	
	$144,760 

$10,000
$5,000
$25,000
$22,450	
	$62,450 	
	$207,210 	
	$238,857 	

General Fund

$7,614	
$0	
$0	
$0	
	$7,614 	

$2,386	
$1,500	
$25,000	
$22,450	
	$28,886 	

$10,000	
$1,500	
$25,000	
$22,450	
	$36,500 	

Total Expenditures		$198,190 			$93,412 			$64,951 			$158,363 	
Unassigned Fund Balance		$235,789 			$297,023 			($62,688)			$234,336 	

(1)	Lake Bank Restoration/Reserve Funds:	
	FY12	$12,777.00	
	FY13	$29,655.00	
	FY14	$30,055.00	
	FY15	$20,000.00	
	FY16	$20,000.00	
	FY17	$25,000.00	
	FY18	$25,000.00	
	FY19	$25,000.00	
	FY20	$25,000.00	
	FY21	$25,000.00	
	FY22	$25,000.00	
	FY23	  $25,000.00 	
		$287,487.00	

	FY2021	FY2022	FY2023	
Units	519	519	519	
Per Unit Assess.	$333.38	$379.40	$434.00	
Gross Assessments	$173,024	$196,909	$225,246	
Discounts (6%)	($10,381)	($11,815)	($13,515)	
Net Assessments	$162,643	$185,094	$211,731	

FY2023	
Adopted	
	Budget	

$274,572
$0
$62,292	
	$336,864 

$31,320
$31,320
$212,000
$0	
	$274,640 

$0	
	$0 	
	$62,224 	

FY2022	
Proposed	
	Budget		

Actual	
thru	
  5/31/2022		

Projected	
Next	
	4 Months		

Total	
Projected at	
  9/30/2022		

 Description	

Revenues

Special Assessments-On Roll	
Interest Earnings	
Carry Forward Surplus (1)	
Total Revenues	
Expenditures	
Series 2021	
Interest 11/1	
Interest 5/1	
Principal 5/1	
Special Call - 11/1	
Total Expenditures	

$275,110	
$0	
$71,451	
	$346,561 	

$272,030	
$52	
$66,915	
	$338,997 	

$3,080	
$17	
$0	
	$3,097 	

$275,110	
$69	
$66,915	
	$342,094 	

$35,431	
$33,744	
$202,000	
$0	
	$271,175 	

$35,431		$0	
$33,624		$0	
$202,000		$0	
$10,000		$0	
	$281,055 			$0 	

$35,431	
$33,624	
$202,000	
$10,000	
	$281,055 	

Other Financing Sources/(Uses)
Interfund Transfer In/(out)	$0		$1,254		$0		$1,254 Total Other Financing Sources/(Uses 	 $0 		 $1,254 		 $0 		 $1,254 

 			
Excess Revenues (Expenditures)		$75,386 		$59,196 		$3,097 		$62,292 

(1) Carry Forward is Net of Reserve Requirement	Debt Service Due 11/1/23

 $	28,776 

Debt Service Fund	
Series 2021 Special Assessment Revenue Refunding Bonds	

	FY2022	FY2023	
Units	511	510
$572.74
$292,097 ($17,526)
$274,572	
Per Unit Assess.	$572.74		
Gross Assessments	$292,670		
Discounts (6%)	($17,560)		
Net Assessments	$275,110		

Amortization Schedule	
Series 2021 Special Assessment Revenue Refunding Bonds	

 				

PRINCIPAL	
  BALANCE		

INTEREST	
 RATE 	

ANNUAL	
	TOTAL		

 DATE		 INTEREST		 PRINCIPAL 		TOTAL	

11/01/22	$2,610,000.00	2.40%	$31,320.00	$0.00	$31,320.00	
05/01/23	$2,610,000.00	2.40%	$31,320.00	$212,000.00	$243,320.00	$274,640.00	
11/01/23	$2,398,000.00	2.40%	$28,776.00	$0.00	$28,776.00	
05/01/24	$2,398,000.00	2.40%	$28,776.00	$214,000.00	$242,776.00	$271,552.00	
11/01/24	$2,184,000.00	2.40%	$26,208.00	$0.00	$26,208.00	
05/01/25	$2,184,000.00	2.40%	$26,208.00	$221,000.00	$247,208.00	$273,416.00	
11/01/25	$1,963,000.00	2.40%	$23,556.00	$0.00	$23,556.00	
05/01/26	$1,963,000.00	2.40%	$23,556.00	$228,000.00	$251,556.00	$275,112.00	
11/01/26	$1,735,000.00	2.40%	$20,820.00	$0.00	$20,820.00	
05/01/27	$1,735,000.00	2.40%	$20,820.00	$230,000.00	$250,820.00	$271,640.00	
11/01/27	$1,505,000.00	2.40%	$18,060.00	$0.00	$18,060.00	
05/01/28	$1,505,000.00	2.40%	$18,060.00	$236,000.00	$254,060.00	$272,120.00	
11/01/28	$1,269,000.00	2.40%	$15,228.00	$0.00	$15,228.00	
05/01/29	$1,269,000.00	2.40%	$15,228.00	$242,000.00	$257,228.00	$272,456.00	
11/01/29	$1,027,000.00	2.40%	$12,324.00	$0.00	$12,324.00	
05/01/30	$1,027,000.00	2.40%	$12,324.00	$248,000.00	$260,324.00	$272,648.00	
11/01/30	$779,000.00	2.40%	$9,348.00	$0.00	$9,348.00	
05/01/31	$779,000.00	2.40%	$9,348.00	$254,000.00	$263,348.00	$272,696.00	
11/01/31	$525,000.00	2.40%	$6,300.00	$0.00	$6,300.00	
05/01/32	$525,000.00	2.40%	$6,300.00	$260,000.00	$266,300.00	$272,600.00	
11/01/32	$265,000.00	2.40%	$3,180.00	$0.00	$3,180.00	
05/01/33	$265,000.00	2.40%	$3,180.00	$265,000.00	$268,180.00	$271,360.00	
 Total		 $390,240.00 	 $2,610,000.00 	 $3,000,240.00 	 $3,000,240.00