Portofino Springs	
Community Development District	

Approved Budget	
FY 2027	

Table of Contents

1

2-3

4

5

	General Fund

	Narratives

	Debt Service Fund Series 2007

	Series 2007 Amortization Schedule

6		Assessment Schedule

Portofino Springs	
Community Development District	
Approved Budget	
General Fund	

Adopted Budget	
Actuals Thru	
Projected Next	
Projected Thru	Approved Budget	
Description	FY2026	12/31/25	9 Months	9/30/26	FY 2027	

REVENUES:

Special Assessments - On Roll	$	53,838	$	45,646	$	8,192	$	53,838	$	53,838	
Carry Forward Surplus	30,441	46,351	-	46,351	31,391	

TOTAL REVENUES	$84,279	$91,998	$8,192	$100,189	$85,229	

EXPENDITURES:

Administrative						
Supervisor Fees	$	7,200	$	-	$	1,200	$	1,200	$	7,200	
FICA Taxes	551	-	92	92	551	
Engineering	1,000	-	750	750	1,000	
Attorney	10,000	1,500	1,350	2,850	10,000	
Annual Audit	3,700	-	3,700	3,700	3,400	
Dissemination Agent	2,783	696	2,087	2,783	2,950	
Trustee Fees	3,500	-	3,500	3,500	3,500	
Management Fees	26,796	6,699	20,097	26,796	28,404	
Information Technology	1,113	278	835	1,113	1,180	
Website Maintenance	1,113	278	835	1,113	1,180	
Postage & Delivery	100	37	63	100	100	
Insurance General Liability	9,304	8,295	-	8,295	9,125	
Printing & Binding	200	-	40	40	200	
Legal Advertising	2,000	-	2,000	2,000	2,000	
Other Current Charges	1,000	288	259	548	1,000	
Office Supplies	25	-	25	25	25	
Dues, Licenses & Subscriptions	175	175	-	175	175	
1st Quarter Operating	13,720	-	13,720	13,720	13,240	

TOTAL EXPENDITURES	$84,279	$18,246	$50,553	$68,799	$85,229	

EXCESS REVENUES (EXPENDITURES)	$-	$73,752	$(42,361)	$31,391	$	-	

Portofino Springs	
Community Development District	
Budget Narrative	
Fiscal Year 2026	

REVENUES	

Special Assessments - On 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.	

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.	
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.	
Postage and Delivery	
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 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.	

Portofino Springs	
Community Development District	
Budget Narrative	
Fiscal Year 2026	

Expenditures - Administrative (continued)	

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 bank charges and any other miscellaneous expenses that incur during the year.	
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.	
1st Quarter Operating	
Represents expenses in the first 2 months prior to assessments being collected.	

Portofino Springs	
Community Development District	
Approved Budget	
Debt Service Series 2007 Special Assessment Refunding Bonds	

Adopted Budget	
Actuals Thru	
Projected Next	
Projected Thru	Approved Budget	
Description	FY2026	12/31/25	9 Months	9/30/26	FY 2027	

REVENUES:

Special Assessments-On Roll	$	134,391	$	113,943	$	20,448	$	134,391	$	134,391	
Interest Earnings	2,000	1,143	1,000	2,143	2,000	
Carry Forward Surplus (1)	94,467	98,515	-	98,515	102,949	

TOTAL REVENUES	$230,857	$213,601	$21,448	$235,049	$239,339	

EXPENDITURES:

Interest - 11/01	$	33,550	$	33,550	$	-	$	33,550	$	31,763	
Interest - 05/01	33,550	-	33,550	33,550	31,763	
Principal - 05/01	65,000	-	65,000	65,000	70,000	

TOTAL EXPENDITURES	$132,100	$33,550	$98,550	$132,100	$133,525	

EXCESS REVENUES (EXPENDITURES)	$98,757	$180,051	$(77,102)	$102,949	$105,814	

Interest Due 11/1/27	$29,838	

(1) Carry Forward is Net of Reserve Requirement

$29,838

Portofino Springs	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2007 Special Assessment Refunding Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

11/01/25	1,220,000	5.500%	-	33,550.00	133,888	
05/01/26	1,220,000	5.500%	65,000	33,550.00		
11/01/26	1,155,000	5.500%	-	31,762.50	130,313	
05/01/27	1,155,000	5.500%	70,000	31,762.50		
11/01/27	1,085,000	5.500%	-	29,837.50	131,600	
05/01/28	1,085,000	5.500%	75,000	29,837.50		
11/01/28	1,010,000	5.500%	-	27,775.00	132,613	
05/01/29	1,010,000	5.500%	80,000	27,775.00		
11/01/29	930,000	5.500%	-	25,575.00	133,350	
05/01/30	930,000	5.500%	85,000	25,575.00		
11/01/30	845,000	5.500%	-	23,237.50	133,813	
05/01/31	845,000	5.500%	85,000	23,237.50		
11/01/31	760,000	5.500%	-	20,900.00	129,138	
05/01/32	760,000	5.500%	90,000	20,900.00		
11/01/32	670,000	5.500%	-	18,425.00	129,325	
05/01/33	670,000	5.500%	95,000	18,425.00		
11/01/33	575,000	5.500%	-	15,812.50	129,238	
05/01/34	575,000	5.500%	100,000	15,812.50		
11/01/34	475,000	5.500%	-	13,062.50	128,875	
05/01/35	475,000	5.500%	110,000	13,062.50		
11/01/35	365,000	5.500%	-	10,037.50	133,100	
05/01/36	365,000	5.500%	115,000	10,037.50		
11/01/36	250,000	5.500%	-	6,875.00	131,913	
05/01/37	250,000	5.500%	120,000	6,875.00		
11/01/37	130,000	5.500%	-	3,575.00	130,450	
05/01/38	130,000	5.500%	130,000	3,575.00	133,575	

Total	$1,220,000	$487,300	$1,707,300	

Portofino Springs
Community Development District
Non-Ad Valorem Assessments Comparison 2026-2027	

Neighborhood	O&M Units	Bonds Units
2007	
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)	

Townhomes - PP	

47	

47	

$282.14	

$282.14	

$0.00	

$638.30	

$638.30	

$0.00	

$920.44	

$920.44	

$0.00	
Townhomes	156	155	$282.14	$282.14	$0.00	$728.83	$728.83	$0.00	$1,010.97	$1,010.97	$0.00	
Total	203	202										

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