Adopted Budget
Fiscal Year 2022

Rolling Hills Community Development District

August 11, 2021

	Adopted
Budget		Actual
thru		Projected
Next		Total
Projected at		Adopted
Budget	
 Description		 	FY2021			     6/30/21			 	3 Months			 	9/30/21			 	FY2022		
Revenues
Assessments - On Roll	
$348,975		
$349,729		
$0		
$349,729		
$385,247	
Assessments - Direct Platted	$269,409		$202,057		$67,352		$269,409		$297,402	
Swim & Tennis Revenue	$800		$0		$800		$800		$0	
Interest/Misc Income	$0		$544		$50		$594		$0	
Facility Rental Fees	$3,500		$1,300		$200		$1,500		$3,500	
Non-Resident Memberships	$1,980		$0		$0		$0		$0	
Total Revenues	 	$624,664 		     $553,629 		 	$68,402 		 	$622,031 		 	$686,149 	

Expenditures
Administrative		
Supervisor Fees	$6,000		$4,800		$2,000		$6,800		$6,000	
FICA Expense	$459		$367		$153		$520		$459	
Engineering	$5,000		$688		$2,500		$3,188		$5,000	
Arbitrage	$1,200		$1,200		$0		$1,200		$1,200	
Dissemination Agent	$3,500		$3,625		$1,250		$4,875		$5,000	
Assessment Roll	$5,000		$5,000		$0		$5,000		$5,000	
Attorney	$22,500		$13,416		$9,583		$22,999		$22,500	
Annual Audit	$3,800		$0		$3,800		$3,800		$4,000	
Trustee	$8,081		$8,081		$0		$8,081		$8,081	
Management Fees	$41,200		$30,900		$10,300		$41,200		$41,200	
Computer Time	$1,000		$750		$250		$1,000		$1,000	
Website Compliance	$2,500		$1,875		$625		$2,500		$2,500	
Telephone	$150		$318		$106		$424		$150	
Postage	$500		$317		$106		$422		$500	
Printing & Binding	$1,250		$1,411		$470		$1,882		$1,250	
Travel & Per Diem	$100		$0		$100		$100		$100	
Insurance	$8,427		$8,639		$0		$8,639		$9,503	
Legal Advertising	$1,000		$851		$284		$1,135		$1,000	
Other Current Charges	$1,500		$762		$254		$1,015		$1,400	
Office Supplies	$100		$193		$64		$257		$100	
Dues, Licenses & Subscriptions	$175		$175		$0		$175		$175	
Administrative Expenses	 	$113,442 		 	$83,367 		 	$31,845 		 	$115,211 		 	$116,118 	
Field
Operations Management	
$21,525		
$16,144		
$5,381		
$21,525		
$22,171	
Utilities - Irrigation & Streetlights	$35,000		$15,013		$5,004		$20,017		$30,000	
Repairs & Maintenance	$40,000		$20,211		$6,737		$26,948		$40,000	
Landscape	$74,800		$57,347		$19,116		$76,463		$74,800	
Landscape - Contingency	$6,800		$478		$6,800		$7,278		$15,000	
Mulch	$13,500		$1,070		$10,530		$14,000		$16,000	
Lake Maintenance	$4,800		$3,780		$1,260		$5,040		$5,000	
Irrigation Repairs	$7,500		$945		$315		$1,260		$5,000	
Miscellaneous	$1,264		$596		$500		$1,096		$1,000	

Field Expenses	 	$205,189	 $115,584	 	$55,643	 	$173,627 	$208,971 

1

	Adopted
Budget		Actual	Projected
thru	Next		Total
Projected at		Adopted
Budget	
 Description		 	FY2021			     6/30/21		 	3 Months			 	9/30/21			 	FY2022		

Amenity Center								
Facility Management	$56,210		$42,158	$14,053		$56,210		$59,021	
Pool Attendants	$35,000		$9,430	$30,000		$39,430		$37,735	
Refuse Service	$8,300		$10,982	$3,661		$14,642		$10,000	
Security	$15,000		$9,993	$3,331		$13,323		$15,000	
Utilities	$45,000		$29,053	$11,298		$40,351		$45,000	
Recreation Passes	$1,000		$0	$0		$0		$1,000	
Repairs & Maintenance	$40,000		$31,764	$10,588		$42,353		$40,000	
Janitorial	$12,840		$8,560	$2,853		$11,413		$12,835	
Pool Maintenance	$13,650		$10,238	$3,413		$13,650		$13,650	
Special Events	$6,000		$1,528	$3,500		$5,028		$6,000	
Operating Supplies	$6,000		$3,789	$3,413		$7,201		$8,000	
Pool Chemicals	$9,000		$7,432	$3,413		$10,844		$10,000	
Permit	$375		$375	$0		$375		$375	
Insurance	$23,121		$24,949	$0		$24,949		$27,444	
Capital Reserve	$34,537		$34,537	$0		$34,537		$75,000	
Amenity Center	 	$306,033 		
     $224,785	 	$89,521 		 	$314,306 		 	$361,060 	
Total Expenses	 	$624,664 		
     $423,736	 	$177,009 		 	$603,144 		 	$686,149 	
ASSIGNED FUND BALANCE	 	$0 		
     $129,893	 	($108,606) 		 	$18,887 		 	$0 	
					
FY 2021		
FY 2022	
			Platted Lots:					
			Assessments - Platted Lots On Roll		375		375	
			Net-Assessment Rate		$930.60		$1,027.33	
			Total Net Assessments		$348,975.00		$385,247.25	
			Gross Assessment (6% Discount)		$371,250.00		$409,837.50	
			Gross Assessment - Per Unit		$990.00		$1,092.90	
			Planned Lots: 					
			Assessments - Direct Billed		386		386	
			Net-Assessment Rate per Unit (75%)		$697.93		$770.47	
			Total Net Assessments		$269,401.44		$297,401.81	
			Gross Assessment (6% Discount)		$286,597.28		$316,384.90	
			Gross Assessment - Per Unit		$742.48		$819.65	

2

REVENUES:
Assessments – Platted Lots

The District will assess the platted lots within the District to fund a portion of the District’s operating budget for the fiscal year.

Swim & Tennis Revenue

Fees collected for swim lessons, guest fees, room rentals and programs.

Facility Rental Fees

The residents may rent the facilities for personal use.

Non-Resident Membership Fees

Non-Resident have the opportunity to purchase access to the Amenity Center facilities. The annual cost is
$1,980.

EXPENDITURES:
Administrative:

Supervisors Fees

The District may compensate supervisors up to $200 per meeting with a maximum amount of $4,800 per year.

FICA Expense

Represents District’s share of Social Security and Medicare Taxes withheld from supervisor’s fees.

Engineering

The District will contract with an engineering firm to provide general engineering services to the District, including attendance and preparation for monthly board meetings, review invoices, etc.

Arbitrage

The District is required to annually have an arbitrage rebate calculation on the District’s Series 2015 A1/A2/A3 and 2020 A1/A2 Bonds. The District will contract with a certified public accounting firm to calculate the rebate liability and submit reports to the District.

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 unrelated bond issues. The District has contracted with GMS, LLC to provide this service.

Assessment Roll

The District has contracted with Governmental Management Services for the certification of the District’s annual maintenance and debt service assessments to the County Tax Collector.

Attorney

The District's legal counsel, Hopping Green & Sams, will be providing general legal services to the District, including attendance and preparation for monthly meetings, preparation and review of agreements, resolutions, etc.

Annual Audit

The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm. Grau and Associates currently serves as the District’s Independent Auditor.

Trustee

The District issued $2,500,000 of Series 2015A-1, $1,930,000 of Series 2015A-2, $3,850,000 of Series 2015A-3, $2,245,000 of Series 2015B and $4,465,000 of Series 2020A1/A2 Capital Improvement Revenue Refunding Bonds which are held by a Trustee at U.S. Bank.

Management Fees

The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services, LLC.

Travel & Per Diem

Represents mileage reimbursement to Supervisors for use of their private vehicle to travel to Board of Supervisors meetings.

Computer Time

The District processes all of its financial activities, including accounts payable, financial statements, etc. on a main frame computer leased by Governmental Management Services, LLC.

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-Liability

The District's General Liability & Public Officials Liability Insurance policy is with Preferred Governmental Insurance Trust (PGIT). PGIT 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 the Florida Times Union.

Other Current Charges

Bank charges and any other miscellaneous expenses incurred during the year.

Office Supplies

Miscellaneous office supplies.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Department of Economic Opportunity for $175. This is the only expense under this category for the District.

Field:

Operations Management

The District has contracted with Riverside Management Services to provide oversight of daily operations of the common areas, irrigation and maintenance contracts.

Landscape Maintenance

This represents landscape maintenance of all the District property, to include mowing, weeding, trimming, pruning etc. The District is contracted with Tree Amigos.

Landscape Contingency

Represents a contingency for mulch installation, sod repairs/replacement, plant replacements and new common areas to maintain.

Utilities- Irrigation and Streetlights

The District has utility accounts with the following providers for irrigation and lighting:

Account No.	Description	Monthly	Annually	

Clay Electric				
7182249	2404-1 Rolling View Blvd	$	55	$	660	
7755259	3236-1 Bradley Creek Dr	$	35	$	420	
7755275	3314-1 Bradly Creek Dr	$	33	$	396	
7755283	2448 Rolling View Blvd	$	75	$	900	

Clay County Utility Authority

244686	3212-1 Bradley Creek Reclaim	$ 1,422	$	17,064	
244869	3212-2 Bradley Creek Reclaim	$	128	$	1,536	
256584	3215-2 Bradley Creek Reclaim	$	301	$	3,612	
253042	3212-3 Bradley Creek Irrigation	$	630	$	7,560	
Contingency			$	2,852.00	
Total			$	35,000.00	

Lake Maintenance

The District has contracted with The Lake Doctors for more aquatic plant management of the community’s lakes. Services provide labor, equipment, herbicides and technology to control invasive plants and algae.

Miscellaneous

Any unforeseen expense that is not included in the previous categories.

Amenity Center:

Facility Management

The District has contracted with Riverside Management Services to staff the amenity center and manage the day to day operations in accordance with their contract.

Pool Attendants

The District has contracted with Riverside Management Services to provide pool attendants for the District’s water slide, safety and enforcement of pool rules adopted by the District.

Refuse Service

The District has contracted with GFL Environmental for the refuse container removal. The contract is for one 2 yard front load dumpster to be emptied once a week.

Security

The District has contracted with the Clay County Sheriff’s Office to provide part time security covering the community.

Utilities- Electric, Water, Cable, Internet & Telephone

The District has the following utility accounts for the Amenity Center:

Account Number	Description	Monthly	Annually

Clay Electric Cooperative
7751951	3212 Bradley Creek Dr

$	3,000.00

$ 36,000.00

Clay County Utility Authority

00260347

Comcast	3212-4 Bradley Creek Dr	$	300.00	$	3,600.00	
8495741231221030	Cable/Internet/Telephone	$	300.00	$	3,600.00	
Contingency			$	1,800.00	

Repairs and Maintenance				

The District will incur various cost associated with the overall maintenance of the District’s amenity center to include:

•A/C unit quarterly maintenance by Mechanical Solutions
•Light repairs and new bulbs/ballasts
•Annual installation
•Quarterly pressure wash all facility areas
•Pumps and motor maintenance and repairs
•Painting

Janitorial

The District has contracted with Riverside Management Services for the monthly cleaning of the clubhouse.

Pool Maintenance

The District has contracted with Riverside Management Services for the weekly cleaning and maintenance of the pools.

Special Events

The District will host certain special events throughout the year for the residents of the community.

Operating Supplies

Any supplies and chemicals needed for the daily upkeep and operation of the Amenity Center.

Pool Chemicals

The District purchases all necessary chemicals from Hawkins, Inc. for the swimming pool.

Permits

Represents cost for the various permits required for the operation of the amenity center.

Insurance - Property

The District’s Property Insurance policy is with Preferred Governmental Insurance Trust (PGIT). PGIT specializes in providing insurance coverage to governmental agencies.

Rolling Hills
Community Development District	Capital Reserve

	Adopted
Budget		Actual
thru		Projected
Next		Total
Projected at		Adopted
Budget	
 Description		 	FY2021			     6/30/21			 	3 Months			 	9/30/21			 	FY2022		
Revenues
Interest Income	
$0		
$52		
$10		
$62		
$0	
Carry Forward Surplus	$0		$38,260		$0		$38,260		$62,609	
Total Revenues	 	$0 		 	$38,312 		 	$10 		 	$38,322 		 	$62,609 	

Expenditures										
Capital Outlay	$0		$10,250		$0		$10,250		$137,609	
Total Expenses	 	$0 		 	$10,250 		 	$0 		 	$10,250 		 	$137,609 	
OTHER FINANCING SOURCES/(USES)										
Interfund Transfer In	$34,537		$34,537		$0		$34,537		$75,000	
TOTAL OTHER FINANCING										
SOURCES/(USES)	 	$34,537 		 	$34,537 		 	$0 		 	$34,537 		 	$75,000 	
ASSIGNED FUND BALANCE	 	$34,537 		 	$62,599 		 	$10 		 	$62,609 		 	$0 	

9

Rolling Hills
Community Development District	Debt Service Fund
Series 2015 A1

	Adopted
Budget		Actual
thru		Projected
Next		
Total	Adopted
Projected at	Budget	
 Description			 	FY2021			 	6/30/21			    3 Months 		 	9/30/21	 	FY2022		
Revenues									
Assessments		$174,001		$174,376		$0		$174,376	$174,001	
Interest Income		$0		$8		$0		$8	$0	
Carry Forward Surplus		$58,614		$55,170		$0		$55,170	$56,767	
Total Revenues		 	$174,001 		 	$229,554 		 	$0 		
 	$229,554 	$230,767 	

Expenditures									
Series 2015 A-1									
Interest 11/1		$51,394		$51,394		$0		$51,394	$49,784	
Interest 5/1		$70,000		$70,000		$0		$70,000	$75,000	
Principal 5/1		$51,394		$51,394		$0		$51,394	$49,784	
Total Debt Service Expenditures		 	$172,788 		 	$172,788 		 	$0 		
 	$172,788 	$174,568 	
EXCESS REVENUES / (EXPENDITURES)		 	$1,213 		 	$56,767 		 	$0 		
 	$56,767 	$56,200 	
								
11/1/22 Interest  $	47,861.88	

10

Rolling Hills
Community Development District Series 2015 A-1 Special Assessment Bonds AMORTIZATION SCHEDULE

DATE		RATE		INTEREST		
11/01/20	$	1,900,000.00	4.30%		$	51,393.75	$	51,393.75	
05/01/21	$	1,900,000.00	4.60%	$	70,000.00	$	51,393.75		
11/01/21	$	1,830,000.00	4.60%		$	49,783.75	$	171,177.50	
05/01/22	$	1,830,000.00	5.13%	$	75,000.00	$	49,783.75		
11/01/22	$	1,755,000.00	5.13%		$	47,861.88	$	172,645.63	
05/01/23	$	1,755,000.00	5.13%	$	80,000.00	$	47,861.88		
11/01/23	$	1,675,000.00	5.13%		$	45,811.88	$	173,673.76	
05/01/24	$	1,675,000.00	5.13%	$	85,000.00	$	45,811.88		
11/01/24	$	1,590,000.00	5.13%		$	43,633.75	$	174,445.63	
05/01/25	$	1,590,000.00	5.13%	$	95,000.00	$	43,633.75		
11/01/25	$	1,495,000.00	5.13%		$	41,199.38	$	179,833.13	
05/01/26	$	1,495,000.00	5.13%	$	95,000.00	$	41,199.38		
11/01/26	$	1,400,000.00	5.13%		$	38,765.00	$	174,964.38	
05/01/27	$	1,400,000.00	5.45%	$	105,000.00	$	38,765.00		
11/01/27	$	1,295,000.00	5.45%		$	35,903.75	$	179,668.75	
05/01/28	$	1,295,000.00	5.45%	$	110,000.00	$	35,903.75		
11/01/28	$	1,185,000.00	5.45%		$	32,906.25	$	178,810.00	
05/01/29	$	1,185,000.00	5.45%	$	115,000.00	$	32,906.25		
11/01/29	$	1,070,000.00	5.45%		$	29,772.50	$	177,678.75	
05/01/30	$	1,070,000.00	5.45%	$	120,000.00	$	29,772.50		
11/01/30	$	950,000.00	5.45%		$	26,502.50	$	176,275.00	
05/01/31	$	950,000.00	5.45%	$	130,000.00	$	26,502.50		
11/01/31	$	820,000.00	5.45%		$	22,960.00	$	179,462.50	
05/01/32	$	820,000.00	5.60%	$	120,000.00	$	22,960.00		
11/01/32	$	700,000.00	5.60%		$	19,600.00	$	162,560.00	
05/01/33	$	700,000.00	5.60%	$	125,000.00	$	19,600.00		
11/01/33	$	575,000.00	5.60%		$	16,100.00	$	160,700.00	
05/01/34	$	575,000.00	5.60%	$	130,000.00	$	16,100.00		
11/01/34	$	445,000.00	5.60%		$	12,460.00	$	158,560.00	
05/01/35	$	445,000.00	5.60%	$	140,000.00	$	12,460.00		
11/01/35	$	305,000.00	5.60%		$	8,540.00	$	161,000.00	
05/01/36	$	305,000.00	5.60%	$	150,000.00	$	8,540.00		
11/01/36	$	155,000.00	5.60%		$	4,340.00	$	162,880.00	
05/01/37	$	155,000.00	5.60%	$	155,000.00	$	4,340.00	$	159,340.00	
			$	1,900,000.00	$	1,055,068.78	$	2,955,068.78	
**Revised as of 6/25/20

Rolling Hills
Community Development District	Debt Service Fund
Series 2015 A2, 2015 B

	Adopted
Budget		Actual
thru		Projected
Next		Total
Projected at		Adopted
Budget	
 Description			 	FY2021			 	6/30/21			    3 Months 		 	9/30/21			 	FY2022		
Revenues											

Assessments		$136,800		$137,096		$0		$137,096		$136,800	
Interest Income		$0		$7		$0		$7		$0	
Carry Forward Surplus		$42,693		$49,581		$0		$49,581		$50,497	
Total Revenues		 	$179,493 		 	$186,684 		 	$0 		 	$186,684 		 	$187,297 	

Expenditures											
Series 2015 A-2
Interest - 11/1		
$40,731		
$40,594		
$0		
$40,594		
$39,175	
Principal - 5/1		$50,000		$50,000		$0		$50,000		$55,000	
Interest - 5/1		$40,731		$40,594		$0		$40,594		$39,175	
Special Call - 5/1		$0		$5,000		$0		$5,000		$0	
Total Debt Service Expenditures		 	$131,463 		 	$136,188 		 	$0 		 	$136,188 		 	$133,350 	
EXCESS REVENUES / (EXPENDITURES)		 	$48,031 		 	$50,497 		 	$0 		 	$50,497 		 	$53,947 	

11/1/22 Interest - 2015 A-2	$37,766

Rolling Hills
Community Development District Series 2015 A-2 Special Assessment Bonds AMORTIZATION SCHEDULE

DATE		RATE		INTEREST	
11/01/21	$	1,445,000.00	5.13%		$	39,175.00	$	39,175.00	
05/01/22	$	1,445,000.00	5.13%	$	55,000.00	$	39,175.00		
11/01/22	$	1,390,000.00	5.13%		$	37,765.63	$	131,940.63	
05/01/23	$	1,390,000.00	5.13%	$	55,000.00	$	37,765.63		
11/01/23	$	1,335,000.00	5.13%		$	36,356.25	$	129,121.88	
05/01/24	$	1,335,000.00	5.13%	$	60,000.00	$	36,356.25		
11/01/24	$	1,275,000.00	5.13%		$	34,818.75	$	131,175.00	
05/01/25	$	1,275,000.00	5.13%	$	65,000.00	$	34,818.75		
11/01/25	$	1,210,000.00	5.13%		$	33,153.13	$	132,971.88	
05/01/26	$	1,210,000.00	5.13%	$	65,000.00	$	33,153.13		
11/01/26	$	1,145,000.00	5.13%		$	31,487.50	$	129,640.63	
05/01/27	$	1,145,000.00	5.50%	$	80,000.00	$	31,487.50		
11/01/27	$	1,065,000.00	5.50%		$	29,287.50	$	140,775.00	
05/01/28	$	1,065,000.00	5.50%	$	85,000.00	$	29,287.50		
11/01/28	$	980,000.00	5.50%		$	27,087.50	$	141,375.00	
05/01/29	$	980,000.00	5.50%	$	85,000.00	$	27,087.50		
11/01/29	$	895,000.00	5.50%		$	24,750.00	$	136,837.50	
05/01/30	$	895,000.00	5.50%	$	90,000.00	$	24,750.00		
11/01/30	$	805,000.00	5.50%		$	22,275.00	$	137,025.00	
05/01/31	$	805,000.00	5.50%	$	100,000.00	$	22,275.00		
11/01/31	$	705,000.00	5.50%		$	19,662.50	$	141,937.50	
05/01/32	$	705,000.00	5.50%	$	105,000.00	$	19,662.50		
11/01/32	$	600,000.00	5.50%		$	16,775.00	$	141,437.50	
05/01/33	$	600,000.00	5.50%	$	110,000.00	$	16,775.00		
11/01/33	$	490,000.00	5.50%		$	13,750.00	$	140,525.00	
05/01/34	$	490,000.00	5.50%	$	115,000.00	$	13,750.00		
11/01/34	$	375,000.00	5.50%		$	10,587.50	$	139,337.50	
05/01/35	$	375,000.00	5.50%	$	120,000.00	$	10,587.50		
11/01/35	$	255,000.00	5.50%		$	7,287.50	$	137,875.00	
05/01/36	$	255,000.00	5.50%	$	130,000.00	$	7,287.50		
11/01/36	$	125,000.00	5.50%		$	3,712.50	$	141,000.00	
05/01/37	$	125,000.00	5.50%	$	135,000.00	$	3,712.50	$	138,712.50	
			$	1,455,000.00	$	775,862.52	$	2,230,862.52	

** Revised 3/23/21

Rolling Hills
Community Development District	Debt Service Fund
Series 2015 A3

	Adopted
Budget		Actual
thru		Projected
Next		Total
Projected at		Adopted
Budget	
 Description			 	FY2021			 	6/30/21			 	3 Months			 	9/30/21			 	FY2022		
Revenues											
Assessments - Tax Roll		$41,481		$41,570		$0		$41,570		$41,481	
Assessments - Direct		$302,118		$215,327		$86,791		$302,118		$194,436	
Interest Income		$0		$4		$0		$4		$0	
Carry Forward Surplus		$128,383		$151,571		$0		$151,571		$109,339	
Total Revenues		 	$471,982 		 	$408,472 		 	$86,791 		 	$495,263 		 	$345,257 	

Expenditures											
Series 2015 A-3											
Special Call - 10/20		$0		$1,100,000		$0		$1,100,000		$0	
Interest 11/1		$116,245		$113,993		$0		$113,993		$76,883	
Interest 5/1		$116,245		$79,395		$0		$79,395		$76,883	
Principal 5/1		$115,000		$75,000		$0		$75,000		$85,000	
Total Debt Service Expenditures		 	$347,490 		 	$1,368,388 		 	$0 		      $1,368,388 		 	$238,765 	
Other Financing Sources/(Uses)											
Interfund Transfer In		$0		$982,465		$0		$982,465		$0	
Total Other		 	$0 		 	$982,465 		 	$0 		 	$982,465 		 	$0 	
EXCESS REVENUES / (EXPENDITURES)		 	$124,492 		 	$22,549 		 	$86,791 		 	$109,339 		 	$106,492 	
								
11/1/22 Interest		
$74,035	

Rolling Hills
Community Development District Series 2015 A-3 Special Assessment Bonds AMORTIZATION SCHEDULE

DATE		RATE		INTEREST		
05/01/21	$	2,370,000.00	6.70%	$	75,000.00	$	79,395.00		
11/01/21	$	2,295,000.00	6.70%		$	76,882.50	$	231,277.50	
05/01/22	$	2,295,000.00	6.70%	$	85,000.00	$	76,882.50		
11/01/22	$	2,210,000.00	6.70%		$	74,035.00	$	235,917.50	
05/01/23	$	2,210,000.00	6.70%	$	90,000.00	$	74,035.00		
11/01/23	$	2,120,000.00	6.70%		$	71,020.00	$	235,055.00	
05/01/24	$	2,120,000.00	6.70%	$	95,000.00	$	71,020.00		
11/01/24	$	2,025,000.00	6.70%		$	67,837.50	$	233,857.50	
05/01/25	$	2,025,000.00	6.70%	$	100,000.00	$	67,837.50		
11/01/25	$	1,925,000.00	6.70%		$	64,487.50	$	232,325.00	
05/01/26	$	1,925,000.00	6.70%	$	110,000.00	$	64,487.50		
11/01/26	$	1,815,000.00	6.70%		$	60,802.50	$	235,290.00	
05/01/27	$	1,815,000.00	6.70%	$	115,000.00	$	60,802.50		
11/01/27	$	1,700,000.00	6.70%		$	56,950.00	$	232,752.50	
05/01/28	$	1,700,000.00	6.70%	$	125,000.00	$	56,950.00		
11/01/28	$	1,575,000.00	6.70%		$	52,762.50	$	234,712.50	
05/01/29	$	1,575,000.00	6.70%	$	130,000.00	$	52,762.50		
11/01/29	$	1,445,000.00	6.70%		$	48,407.50	$	231,170.00	
05/01/30	$	1,445,000.00	6.70%	$	140,000.00	$	48,407.50		
11/01/30	$	1,305,000.00	6.70%		$	43,717.50	$	232,125.00	
05/01/31	$	1,305,000.00	6.70%	$	150,000.00	$	43,717.50		
11/01/31	$	1,155,000.00	6.70%		$	38,692.50	$	232,410.00	
05/01/32	$	1,155,000.00	6.70%	$	160,000.00	$	38,692.50		
11/01/32	$	995,000.00	6.70%		$	33,332.50	$	232,025.00	
05/01/33	$	995,000.00	6.70%	$	175,000.00	$	33,332.50		
11/01/33	$	820,000.00	6.70%		$	27,470.00	$	235,802.50	
05/01/34	$	820,000.00	6.70%	$	185,000.00	$	27,470.00		
11/01/34	$	635,000.00	6.70%		$	21,272.50	$	233,742.50	
05/01/35	$	635,000.00	6.70%	$	200,000.00	$	21,272.50		
11/01/35	$	435,000.00	6.70%		$	14,572.50	$	235,845.00	
05/01/36	$	435,000.00	6.70%	$	210,000.00	$	14,572.50		
11/01/36	$	225,000.00	6.70%		$	7,537.50	$	232,110.00	
05/01/37	$	225,000.00	6.70%	$	225,000.00	$	7,537.50	$	232,537.50	
			$	2,370,000.00	$	1,598,955.00	$	3,968,955.00	
**Revised 4/22/21						

15

Rolling Hills
Community Development District	Debt  Service Fund
Series  2020 A-1/A-2

Proposed	Actual	Projected		Total	Adopted Budget		thru		Next	Projected at		Budget
 Description	

Revenues	 	FY2021			 	6/30/21			    3 Months			 	9/30/21			 	FY2022		
Assessments - A-1	$165,981		$162,557		$3,424		$165,981		$165,981	
Assessments - A-2	$0		$0		$0		$0		$87,400	
Interest Income	$0		$9		$0		$9		$0	
Carry Forward Surplus	$0		$0		$0		$0		$103,573	
Total Revenues	 	$165,981 		 	$162,566 		 	$3,424 		 	$165,990 		 	$356,954 	
Expenditures										
Series 2020 A1										
Interest 11/1	$0		$0		$0		$0		$59,116	
Interest 5/1	$63,445		$63,445		$0		$63,445		$59,116	
Principal 5/1	$40,000		$40,000		$0		$40,000		$45,000	
Series 2020 A2										
Interest 11/1	$0		$0		$0		$0		$43,700	
Interest 5/1	$46,371		$46,371		$0		$46,371		$43,700	
Principal 5/1	$0		$0		$0		$0		$0	
Total Debt Service Expenditures	 	$149,816 		 	$149,815 		 	$0 		 	$149,815 		 	$250,631 	
Other Financing Sources/(Uses)										
Refunding Proceeds	$1,235,847		$1,235,847		$0		$1,235,847		$0	
Interfund Transfer Out	($982,468)		($982,468)		$0		($982,468)		$0	
Total Other	 	$253,379 		 	$403,194 		 	$0 		 	$253,379 		 	$0 	

EXCESS REVENUES / (EXPENDITURES)	 	$269,544	$415,945	$3,424	$269,554	 	$106,323 

A1 1/1/22 Interest	$58,356
A2 1/1/22 Interest	$43,700
$102,056

16

Rolling Hills	Series 2020A-1
Community Development District	Amortization  Schedule
2025 Maturity

PRINCIPAL
 	DATE		 	BALANCE		 	RATE		 	INTEREST		 	PRINCIPAL		 	TOTAL	

1-May-21	$235,000.00	3.375%	$3,965.63	$40,000.00		
1-Nov-21	$195,000.00	3.375%	$3,290.63	$0.00		
1-May-22	$195,000.00	3.375%	$3,290.63	$45,000.00	$51,581.25	
1-Nov-22	$150,000.00	3.375%	$2,531.25	$0.00		
1-May-23	$150,000.00	3.375%	$2,531.25	$50,000.00	$55,062.50	
1-Nov-23	$100,000.00	3.375%	$1,687.50	$0.00		
1-May-24	$100,000.00	3.375%	$1,687.50	$50,000.00	$53,375.00	
1-Nov-24	$50,000.00	3.375%	$843.75	$0.00		
1-May-25	$50,000.00	3.375%	$843.75	$50,000.00	$51,687.50	

 	Total		 	$16,706.25	 	$235,000.00	 	$211,706.25 

17

Rolling Hills	Series 2020A-1
Community Development District	Amortization  Schedule
2030 Maturity

PRINCIPAL
 	DATE		 	BALANCE		 	RATE		 	INTEREST		 	PRINCIPAL		 	TOTAL	

1-May-21	$285,000.00	3.875%		$7,362.50	$0.00		
1-Nov-21	$285,000.00	3.875%		$5,521.88	$0.00	$12,884.38	
1-May-22	$285,000.00	3.875%		$5,521.88	$0.00		
1-Nov-22	$285,000.00	3.875%		$5,521.88	$0.00	$11,043.75	
1-May-23	$285,000.00	3.875%		$5,521.88	$0.00		
1-Nov-23	$285,000.00	3.875%		$5,521.88	$0.00	$11,043.75	
1-May-24	$285,000.00	3.875%		$5,521.88	$0.00		
1-Nov-24	$285,000.00	3.875%		$5,521.88	$0.00	$11,043.75	
1-May-25	$285,000.00	3.875%		$5,521.88	$0.00		
1-Nov-25	$285,000.00	3.875%		$5,521.88	$0.00	$11,043.75	
1-May-26	$285,000.00	3.875%		$5,521.88	$55,000.00		
1-Nov-26	$230,000.00	3.875%		$4,456.25	$0.00	$64,978.13	
1-May-27	$230,000.00	3.875%		$4,456.25	$55,000.00		
1-Nov-27	$175,000.00	3.875%		$3,390.63	$0.00	$62,846.88	
1-May-28	$175,000.00	3.875%		$3,390.63	$55,000.00		
1-Nov-28	$120,000.00	3.875%		$2,325.00	$0.00	$60,715.63	
1-May-29	$120,000.00	3.875%		$2,325.00	$60,000.00		
1-Nov-29	$60,000.00	3.875%		$1,162.50	$0.00	$63,487.50	
1-May-30	$60,000.00	3.875%		$1,162.50	$60,000.00		
					 		 	$0.00 	
		 	Total			 	$85,250.00 	 	$285,000.00 	 	$309,087.50 	

 	DATE		 	BALANCE		 	RATE		 	INTEREST		 	PRINCIPAL		 	TOTAL	

1-May-21	$805,000.00	4.625%		$24,820.83	$0.00		
1-Nov-21	$805,000.00	4.625%		$18,615.63	$0.00	$43,436.46	
1-May-22	$805,000.00	4.625%		$18,615.63	$0.00		
1-Nov-22	$805,000.00	4.625%		$18,615.63	$0.00	$37,231.25	
1-May-23	$805,000.00	4.625%		$18,615.63	$0.00		
1-Nov-23	$805,000.00	4.625%		$18,615.63	$0.00	$37,231.25	
1-May-24	$805,000.00	4.625%		$18,615.63	$0.00		
1-Nov-24	$805,000.00	4.625%		$18,615.63	$0.00	$37,231.25	
1-May-25	$805,000.00	4.625%		$18,615.63	$0.00		
1-Nov-25	$805,000.00	4.625%		$18,615.63	$0.00	$37,231.25	
1-May-26	$805,000.00	4.625%		$18,615.63	$0.00		
1-Nov-26	$805,000.00	4.625%		$18,615.63	$0.00	$37,231.25	
1-May-27	$805,000.00	4.625%		$18,615.63	$0.00		
1-Nov-27	$805,000.00	4.625%		$18,615.63	$0.00	$37,231.25	
1-May-28	$805,000.00	4.625%		$18,615.63	$0.00		
1-Nov-28	$805,000.00	4.625%		$18,615.63	$0.00	$37,231.25	
1-May-29	$805,000.00	4.625%		$18,615.63	$0.00		
1-Nov-29	$805,000.00	4.625%		$18,615.63	$0.00	$37,231.25	
1-May-30	$805,000.00	4.625%		$18,615.63	$0.00		
1-Nov-30	$805,000.00	4.625%		$18,615.63	$0.00	$37,231.25	
1-May-31	$805,000.00	4.625%		$18,615.63	$65,000.00		
1-Nov-31	$740,000.00	4.625%		$17,112.50	$0.00	$100,728.13	
1-May-32	$740,000.00	4.625%		$17,112.50	$70,000.00		
1-Nov-32	$670,000.00	4.625%		$15,493.75	$0.00	$102,606.25	
1-May-33	$670,000.00	4.625%		$15,493.75	$70,000.00		
1-Nov-33	$600,000.00	4.625%		$13,875.00	$0.00	$99,368.75	
1-May-34	$600,000.00	4.625%		$13,875.00	$75,000.00		
1-Nov-34	$525,000.00	4.625%		$12,140.63	$0.00	$101,015.63	
1-May-35	$525,000.00	4.625%		$12,140.63	$75,000.00		
1-Nov-35	$450,000.00	4.625%		$10,406.25	$0.00	$97,546.88	
1-May-36	$450,000.00	4.625%		$10,406.25	$80,000.00		
1-Nov-36	$370,000.00	4.625%		$8,556.25	$0.00	$98,962.50	
1-May-37	$370,000.00	4.625%		$8,556.25	$85,000.00		
1-Nov-37	$285,000.00	4.625%		$6,590.63	$0.00	$100,146.88	
1-May-38	$285,000.00	4.625%		$6,590.63	$90,000.00		
1-Nov-38	$195,000.00	4.625%		$4,509.38	$0.00	$101,100.00	
1-May-39	$195,000.00	4.625%		$4,509.38	$95,000.00		
1-Nov-39	$100,000.00	4.625%		$2,312.50	$0.00	$101,821.88	
1-May-40	$100,000.00	4.625%		$2,312.50	$100,000.00		
					 		 	$0.00 	
		 	Total			 	$200,609.38 	 	$805,000.00 	 	$903,296.88 	

	2050 Maturity	

 	DATE			PRINCIPAL
 	BALANCE			
 	RATE			
 	INTEREST			
 	PRINCIPAL			
 	TOTAL		
1-May-21		$1,300,000.00		4.875%		$42,250.00		$0.00			
1-Nov-21		$1,300,000.00		4.875%		$31,687.50		$0.00		$73,937.50	
1-May-22		$1,300,000.00		4.875%		$31,687.50		$0.00			
1-Nov-22		$1,300,000.00		4.875%		$31,687.50		$0.00		$63,375.00	
1-May-23		$1,300,000.00		4.875%		$31,687.50		$0.00			
1-Nov-23		$1,300,000.00		4.875%		$31,687.50		$0.00		$63,375.00	
1-May-24		$1,300,000.00		4.875%		$31,687.50		$0.00			
1-Nov-24		$1,300,000.00		4.875%		$31,687.50		$0.00		$63,375.00	
1-May-25		$1,300,000.00		4.875%		$31,687.50		$0.00			
1-Nov-25		$1,300,000.00		4.875%		$31,687.50		$0.00		$63,375.00	
1-May-26		$1,300,000.00		4.875%		$31,687.50		$0.00			
1-Nov-26		$1,300,000.00		4.875%		$31,687.50		$0.00		$63,375.00	
1-May-27		$1,300,000.00		4.875%		$31,687.50		$0.00			
1-Nov-27		$1,300,000.00		4.875%		$31,687.50		$0.00		$63,375.00	
1-May-28		$1,300,000.00		4.875%		$31,687.50		$0.00			
1-Nov-28		$1,300,000.00		4.875%		$31,687.50		$0.00		$63,375.00	
1-May-29		$1,300,000.00		4.875%		$31,687.50		$0.00			
1-Nov-29		$1,300,000.00		4.875%		$31,687.50		$0.00		$63,375.00	
1-May-30		$1,300,000.00		4.875%		$31,687.50		$0.00			
1-Nov-30		$1,300,000.00		4.875%		$31,687.50		$0.00		$63,375.00	
1-May-31		$1,300,000.00		4.875%		$31,687.50		$0.00			
1-Nov-31		$1,300,000.00		4.875%		$31,687.50		$0.00		$63,375.00	
1-May-32		$1,300,000.00		4.875%		$31,687.50		$0.00			
1-Nov-32		$1,300,000.00		4.875%		$31,687.50		$0.00		$63,375.00	
1-May-33		$1,300,000.00		4.875%		$31,687.50		$0.00			
1-Nov-33		$1,300,000.00		4.875%		$31,687.50		$0.00		$63,375.00	
1-May-34		$1,300,000.00		4.875%		$31,687.50		$0.00			
1-Nov-34		$1,300,000.00		4.875%		$31,687.50		$0.00		$63,375.00	
1-May-35		$1,300,000.00		4.875%		$31,687.50		$0.00			
1-Nov-35		$1,300,000.00		4.875%		$31,687.50		$0.00		$63,375.00	
1-May-36		$1,300,000.00		4.875%		$31,687.50		$0.00			
1-Nov-36		$1,300,000.00		4.875%		$31,687.50		$0.00		$63,375.00	
1-May-37		$1,300,000.00		4.875%		$31,687.50		$0.00			
1-Nov-37		$1,300,000.00		4.875%		$31,687.50		$0.00		$63,375.00	
1-May-38		$1,300,000.00		4.875%		$31,687.50		$0.00			
1-Nov-38		$1,300,000.00		4.875%		$31,687.50		$0.00		$63,375.00	
1-May-39		$1,300,000.00		4.875%		$31,687.50		$0.00			
1-Nov-39		$1,300,000.00		4.875%		$31,687.50		$0.00		$63,375.00	
1-May-40		$1,300,000.00		4.875%		$31,687.50		$0.00			
1-Nov-40		$1,300,000.00		4.875%		$31,687.50		$0.00		$63,375.00	
1-May-41		$1,300,000.00		4.875%		$31,687.50		$105,000.00			
1-Nov-41		$1,195,000.00		4.875%		$29,128.13		$0.00		$165,815.63	
1-May-42		$1,195,000.00		4.875%		$29,128.13		$110,000.00			
1-Nov-42		$1,085,000.00		4.875%		$26,446.88		$0.00		$165,575.00	
1-May-43		$1,085,000.00		4.875%		$26,446.88		$115,000.00			
1-Nov-43		$970,000.00		4.875%		$23,643.75		$0.00		$165,090.63	
1-May-44		$970,000.00		4.875%		$23,643.75		$120,000.00			
1-Nov-44		$850,000.00		4.875%		$20,718.75		$0.00		$164,362.50	
1-May-45		$850,000.00		4.875%		$20,718.75		$125,000.00			
1-Nov-45		$725,000.00		4.875%		$17,671.88		$0.00		$163,390.63	
1-May-46		$725,000.00		4.875%		$17,671.88		$130,000.00			
1-Nov-46		$595,000.00		4.875%		$14,503.13		$0.00		$162,175.00	
1-May-47		$595,000.00		4.875%		$14,503.13		$140,000.00			
1-Nov-47		$455,000.00		4.875%		$11,090.63		$0.00		$165,593.75	
1-May-48		$455,000.00		4.875%		$11,090.63		$145,000.00			
1-Nov-48		$310,000.00		4.875%		$7,556.25		$0.00		$163,646.88	
1-May-49		$310,000.00		4.875%		$7,556.25		$150,000.00			
1-Nov-49		$160,000.00		4.875%		$3,900.00		$0.00		$161,456.25	
1-May-50		$160,000.00		4.875%		$3,900.00
 			$160,000.00
 			
 	$163,900.00 	
				 	Total			 	$974,756.25 		    $1,300,000.00 		 	$2,274,756.25 	

										Summary	

 	DATE			PRINCIPAL
 	BALANCE			
 	RATE			
 	INTEREST			
 	PRINCIPAL			
 	TOTAL		
1-May-21		$2,585,000.00		3.375%		$63,444.50		$40,000.00			
1-Nov-21		$2,585,000.00		3.375%		$59,115.63		$0.00		$162,560.13	
1-May-22		$2,540,000.00		3.375%		$59,115.63		$45,000.00			
1-Nov-22		$2,540,000.00		3.375%		$58,356.25		$0.00		$162,471.88	
1-May-23		$2,490,000.00		3.375%		$58,356.25		$50,000.00			
1-Nov-23		$2,490,000.00		3.375%		$57,512.50		$0.00		$165,868.75	
1-May-24		$2,440,000.00		3.375%		$57,512.50		$50,000.00			
1-Nov-24		$2,440,000.00		3.375%		$56,668.75		$0.00		$164,181.25	
1-May-25		$2,390,000.00		3.375%		$56,668.75		$50,000.00			
1-Nov-25		$2,390,000.00		3.875%		$55,825.00		$0.00		$162,493.75	
1-May-26		$2,390,000.00		3.875%		$55,825.00		$55,000.00			
1-Nov-26		$2,335,000.00		3.875%		$54,759.38		$0.00		$165,584.38	
1-May-27		$2,335,000.00		3.875%		$54,759.38		$55,000.00			
1-Nov-27		$2,280,000.00		3.875%		$53,693.75		$0.00		$163,453.13	
1-May-28		$2,280,000.00		3.875%		$53,693.75		$55,000.00			
1-Nov-28		$2,225,000.00		3.875%		$52,628.13		$0.00		$161,321.88	
1-May-29		$2,225,000.00		3.875%		$52,628.13		$60,000.00			
1-Nov-29		$2,165,000.00		3.875%		$51,465.63		$0.00		$164,093.75	
1-May-30		$2,165,000.00		3.875%		$51,465.63		$60,000.00			
1-Nov-30		$2,105,000.00		4.625%		$50,303.13		$0.00		$161,768.75	
1-May-31		$2,105,000.00		4.625%		$50,303.13		$65,000.00			
1-Nov-31		$2,040,000.00		4.625%		$48,800.00		$0.00		$164,103.13	
1-May-32		$2,040,000.00		4.625%		$48,800.00		$70,000.00			
1-Nov-32		$1,970,000.00		4.625%		$47,181.25		$0.00		$165,981.25	
1-May-33		$1,970,000.00		4.625%		$47,181.25		$70,000.00			
1-Nov-33		$1,900,000.00		4.625%		$45,562.50		$0.00		$162,743.75	
1-May-34		$1,900,000.00		4.625%		$45,562.50		$75,000.00			
1-Nov-34		$1,825,000.00		4.625%		$43,828.13		$0.00		$164,390.63	
1-May-35		$1,825,000.00		4.625%		$43,828.13		$75,000.00			
1-Nov-35		$1,750,000.00		4.625%		$42,093.75		$0.00		$160,921.88	
1-May-36		$1,750,000.00		4.625%		$42,093.75		$80,000.00			
1-Nov-36		$1,670,000.00		4.625%		$40,243.75		$0.00		$162,337.50	
1-May-37		$1,670,000.00		4.625%		$40,243.75		$85,000.00			
1-Nov-37		$1,585,000.00		4.625%		$38,278.13		$0.00		$163,521.88	
1-May-38		$1,585,000.00		4.625%		$38,278.13		$90,000.00			
1-Nov-38		$1,495,000.00		4.625%		$36,196.88		$0.00		$164,475.00	
1-May-39		$1,495,000.00		4.625%		$36,196.88		$95,000.00			
1-Nov-39		$1,400,000.00		4.625%		$34,000.00		$0.00		$165,196.88	
1-May-40		$1,400,000.00		4.625%		$34,000.00		$100,000.00			
1-Nov-40		$1,300,000.00		4.875%		$31,687.50		$0.00		$165,687.50	
1-May-41		$1,300,000.00		4.875%		$31,687.50		$105,000.00			
1-Nov-41		$1,195,000.00		4.875%		$29,128.13		$0.00		$165,815.63	
1-May-42		$1,195,000.00		4.875%		$29,128.13		$110,000.00			
1-Nov-42		$1,085,000.00		4.875%		$26,446.88		$0.00		$165,575.00	
1-May-43		$1,085,000.00		4.875%		$26,446.88		$115,000.00			
1-Nov-43		$970,000.00		4.875%		$23,643.75		$0.00		$165,090.63	
1-May-44		$970,000.00		4.875%		$23,643.75		$120,000.00			
1-Nov-44		$850,000.00		4.875%		$20,718.75		$0.00		$164,362.50	
1-May-45		$850,000.00		4.875%		$20,718.75		$125,000.00			
1-Nov-45		$725,000.00		4.875%		$17,671.88		$0.00		$163,390.63	
1-May-46		$725,000.00		4.875%		$17,671.88		$130,000.00			
1-Nov-46		$595,000.00		4.875%		$14,503.13		$0.00		$162,175.00	
1-May-47		$595,000.00		4.875%		$14,503.13		$140,000.00			
1-Nov-47		$455,000.00		4.875%		$11,090.63		$0.00		$165,593.75	
1-May-48		$455,000.00		4.875%		$11,090.63		$145,000.00			
1-Nov-48		$310,000.00		4.875%		$7,556.25		$0.00		$163,646.88	
1-May-49		$310,000.00		4.875%		$7,556.25		$150,000.00			
1-Nov-49		$160,000.00		4.875%		$3,900.00		$0.00		$161,456.25	
1-May-50		$160,000.00		4.875%		$3,900.00		$160,000.00
 			
 	$163,900.00 	

 	Total		 	$2,289,163.25	 	$2,625,000.00	 	$4,914,163.25 

										2030 Maturity	

 	DATE			PRINCIPAL
 	BALANCE			
 	RATE			
 	INTEREST			
 	PRINCIPAL			
 	TOTAL		
1-May-21		$1,840,000.00		4.750%		$46,370.56		$0.00			
1-Nov-21		$1,840,000.00		4.750%		$43,700.00		$0.00		$90,070.56	
1-May-22		$1,840,000.00		4.750%		$43,700.00		$0.00			
1-Nov-22		$1,840,000.00		4.750%		$43,700.00		$0.00		$87,400.00	
1-May-23		$1,840,000.00		4.750%		$43,700.00		$0.00			
1-Nov-23		$1,840,000.00		4.750%		$43,700.00		$0.00		$87,400.00	
1-May-24		$1,840,000.00		4.750%		$43,700.00		$0.00			
1-Nov-24		$1,840,000.00		4.750%		$43,700.00		$0.00		$87,400.00	
1-May-25		$1,840,000.00		4.750%		$43,700.00		$0.00			
1-Nov-25		$1,840,000.00		4.750%		$43,700.00		$0.00		$87,400.00	
1-May-26		$1,840,000.00		4.750%		$43,700.00		$0.00			
1-Nov-26		$1,840,000.00		4.750%		$43,700.00		$0.00		$87,400.00	
1-May-27		$1,840,000.00		4.750%		$43,700.00		$0.00			
1-Nov-27		$1,840,000.00		4.750%		$43,700.00		$0.00		$87,400.00	
1-May-28		$1,840,000.00		4.750%		$43,700.00		$0.00			
1-Nov-28		$1,840,000.00		4.750%		$43,700.00		$0.00		$87,400.00	
1-May-29		$1,840,000.00		4.750%		$43,700.00		$0.00			
1-Nov-29		$1,840,000.00		4.750%		$43,700.00		$0.00		$87,400.00	
1-May-30		$1,840,000.00		4.750%		$43,700.00		$1,840,000.00		$1,883,700.00	
				 	Total			 	$832,970.56 		    $1,840,000.00 		 	$2,672,970.56 	

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