Orlando SED CDD
FY2026 Proposed Budget

April 30, 2025

PFM Group Consulting LLC 3501 Quadrangle Blvd., Suite 270 Orlando, Florida 32817 Tel:
407-723-5900

Orlando SED CDD
FY2026 Proposed Budget

Actual to April 2025	Anticipated to September 2025	Total Anticpated to September 2025	FY 2025
Adopted Budget	FY 2026
Proposed Budget	
Revenues															
Developer Contributions	$  25,000.00	$  93,190.00	$  118,190.00	$ 172,720.00	$ 172,720.00	
Net Revenues	$  25,000.00	
$  93,190.00	
$  118,190.00	
$ 172,720.00	
$ 172,720.00	
General & Administrative Expenses															
Supervisor Fees	$	-		$	-	$	-	$	12,000.00	$	12,000.00	
Public Officials' Liability Insurance		1,319.00			-			1,319.00	3,100.00	2,487.26	
Trustee Services		-			-			-	7,500.00	7,500.00	
Management		11,250.00			33,750.00	45,000.00	45,000.00	45,000.00	
Engineering		-			-			-	20,000.00	20,000.00	
Disclosure Agent		-			-			-	1,000.00	1,000.00	
Property Appraiser		-			-			-			500.00	5,000.00	
District Counsel		2,457.16			27,542.84	30,000.00	30,000.00	20,000.00	
Bond Counsel		1,996.50			9,982.50	11,979.00			-	10,000.00	
Assessment Administration		-						-	5,000.00	5,000.00	
Reamortization Schedules		-						-			250.00			250.00	
Audit		-			-			-	6,000.00	6,000.00	
Travel and Per Diem		-			-			-			600.00	1,200.00	
Telephone		-			-			-			25.00			-	
Postage & Shipping		16.33			483.67			500.00			500.00			500.00	
Copies		-			-			-			500.00			-	
Legal Advertising		-			10,000.00	10,000.00	10,000.00	10,000.00	
Bank Fees		-			-			-			360.00			-	
Miscellaneous		-			12,000.00	12,000.00	12,000.00	12,687.74	
Meeting Room		-			750.00			750.00	1,500.00	1,500.00	
Office Supplies		-			-			-			290.00			-	
Web Site Maintenance		-			4,855.00			4,855.00	7,420.00	3,420.00	
Dues, Licenses, and Fees		-			175.00			175.00			175.00			175.00	
General Insurance		1,612.00			-			1,612.00	4,000.00	4,000.00	
Property & Casualty		-			-			-	5,000.00	5,000.00	
Total General & Administrative Expenses	$  18,650.99	$  99,539.01	$  118,190.00	
$ 172,720.00	
$ 172,720.00	
Total Expenses	 $  18,650.99 	 $  99,539.01 	 $  118,190.00 	 $ 172,720.00 	 $ 172,720.00 	
Net Income (Loss)	$	6,349.01		$	(6,349.01)		$	-		$	-		$	-	

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Orlando SED CDD
FY 2026 BUDGET DESCRIPTION

Revenues:

Developer Contribution

Funding from the Developer.

Administrative Expenditures:
Supervisor Fees

Chapter 190 of the Florida Statutes allows for a member of the Board of Supervisors to be compensated for meeting attendance and to receive up to $200.00 per meeting. The amount for the Fiscal Year is based upon all supervisors attending the meetings.
Public Officials’ Insurance

Supervisors’ and Officers’ liability insurance provided by EGIS Insurance who specializes in providing insurance coverage to governmental agencies.

Trustee Services

The Trustee submits invoices annually for services rendered on bond series. These fees are for maintaining the District trust accounts.

Management

The District receives Management and Administrative services as part of a Management Agreement with PFM Group Consulting, LLC. These services are further outlined in Exhibit “A” of the Management Agreement.

Engineering

The District’s engineer provides general engineering services to the District. Among these services are attendance at and preparation for monthly board meetings, review of invoices, and all other engineering services as requested by the District throughout the year.

Disclosure Services

When bonds are issued for the District, the Bond Indenture requires continuing disclosure, which the dissemination agent provides to the trustee and bond holders.

Property Appraiser

Cost incurred for a copy of the annual parcel listing for parcels within the District from the county.

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Orlando SED CDD
FY 2026 BUDGET DESCRIPTION

District Counsel

The District’s legal counsel provides general legal services to the District. Among these services are attendance at and preparation for monthly board meetings, review of operating and maintenance contracts, and all other legal services as requested by the District throughout the year.

Assessment Administration

The District can levy a Non-Ad Valorem assessment on all the assessable property within the District in order to pay for the operating expenditures during the Fiscal Year. It is typically collected via the Tax Collector. The District Manager submits an Assessment Roll to the Tax Collector annually by the deadline set by the Tax Collector or Property Appraiser.
Reamortization Schedule

When debt is paid on a bond series, a new amortization schedule must be recalculated. This can occur up to four times per year per bond issue.

Audit

Chapter 218 of the Florida Statutes requires a District to conduct an annual financial audit by an Independent Certified Public Accounting firm. Some exceptions apply.

Travel & Per Diem

Travel to and from meetings as related to the District.
Postage & Shipping

Mail, overnight deliveries, correspondence, etc.

Legal Advertising
The District will incur expenditures related to legal advertising. The items for which the District will advertise include, but are not limited to monthly meetings, special meetings, and public hearings for the District.

Miscellaneous

Other general & administrative expenses incurred throughout the year
Meeting Room

Fee charged for renting a room for the monthly advertised meeting.

Web site Maintenance
Website maintenance fee.

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Orlando SED CDD
FY 2026 BUDGET DESCRIPTION

Dues, Licenses & Fees

The District is required to pay an annual fee to the Department of Economic Opportunity (Florida Commerce).

General Insurance

Represents the cost of annual coverage of general liability insurance. Coverage is provided by Egis Insurance who specializes in providing insurance coverage to governmental agencies.

Property & Casualty
The District’s property and casualty insurance coverage is provided by EGIS Insurance who specializes in providing insurance coverage to governmental agencies.

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