Verona Walk
Community Development District

Proposed Budget For Fiscal Year 2025/2026
October 1, 2025 - September 30, 2026

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET (SERIES 2013)

DETAILED PROPOSED DEBT SERVICE FUND BUDGET (SERIES 2018)

ASSESSMENT COMPARISON

PROPOSED BUDGET
VERONA WALK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	
FISCAL YEAR 2025/2026
BUDGET	
O & M ASSESSMENTS	448,974	
DEBT ASSESSMENTS - SERIES 2013	515,565	
DEBT ASSESSMENTS - SERIES 2018	580,455	
OTHER REVENUES	0	
INTEREST INCOME	1,800	
		
TOTAL REVENUES	$	1,546,794	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
FIELD INSPECTOR	46,229	
VEHICLE - INSURANCE	1,000	
VEHICLE - EQUIPMENT (SMALL TOOLS)	1,545	
VEHICLE - GAS & MAINTENANCE	2,500	
GOLF CART STORAGE	1,500	
LAKE SPRAYING (SOLITUDE-CLARK)	100,000	
LAKE WATER QUALITY TESTING (BENCHMARK)	6,000	
STREET SWEEPING	10,000	
SPECIAL PROJECTS	10,000	
LAKE BANK MOWING	65,650	
OUTFALL PIPE & STRUCTURE INSPECTION & CLEANING	10,000	
STORM PIPE, ANNUAL INSPECTIONS & EROSION REPAIRS	53,000	
DREDGING	1,000	
MISCELLANEOUS MAINTENANCE	1,250	
TOTAL MAINTENANCE EXPENDITURES	$	309,674	
		
ADMINISTRATIVE EXPENDITURES		
ENGINEERING	13,000	
MANAGEMENT	52,752	
SECRETARIAL	4,200	
LEGAL	15,000	
ASSESSMENT ROLL	10,000	
AUDIT FEES	4,300	
ARBITRAGE REBATE FEE - SERIES 2013	650	
ARBITRAGE REBATE FEE - SERIES 2018	650	
INSURANCE	7,800	
LEGAL ADVERTISING	2,495	
MISCELLANEOUS/CONTINGENCY	1,800	
POSTAGE	700	
OFFICE SUPPLIES	1,075	
DUES & SUBSCRIPTIONS	175	
WEBSITE MANAGEMENT	2,000	
TRUSTEE FEES - SERIES 2013	4,730	
TRUSTEE FEES - SERIES 2018	4,100	
CONTINUING DISCLOSURE FEE	1,000	
TOTAL ADMINISTRATIVE EXPENDITURES	$	126,427	
		
TOTAL EXPENDITURES	$	436,101	
		
REVENUES LESS EXPENDITURES	$	1,110,693	
		
BOND PAYMENTS (SERIES 2013)	(476,898)	
BOND PAYMENTS (SERIES 2018)	(536,921)	
		
BALANCE	$	96,874	
		
COUNTY APPRAISER & TAX COLLECTOR ADMINISTRATIVE COSTS	(53,302)	
DISCOUNTS FOR EARLY PAYMENTS	(62,572)	
		
EXCESS/ (SHORTFALL)	$	(19,000)	
		
CARRYOVER FROM PRIOR YEAR	19,000	
		
NET EXCESS/ (SHORTFALL)	$	-	

Note: Projected Available Funds Balance As Of 9-30-25 is $800,000

DETAILED PROPOSED BUDGET
VERONA WALK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	FISCAL YEAR 2023/2024 ACTUAL	FISCAL YEAR 2024/2025 BUDGET	FISCAL YEAR 2025/2026 BUDGET	

COMMENTS	
O & M ASSESSMENTS	312,737	448,974	448,974	Expenditures Less Interest & Carryover/.925	
DEBT ASSESSMENTS - SERIES 2013	515,725	515,565	515,565	Bond Payments/.925	
DEBT ASSESSMENTS - SERIES 2018	581,652	580,455	580,455	Bond Payments/.925	
OTHER REVENUES	0	0	0		
INTEREST INCOME	41,300	1,200	1,800	Interest Projected At $1,500 Per Month	
					
TOTAL REVENUES	$	1,451,414	$	1,546,194	$	1,546,794		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
FIELD INSPECTOR	45,629	43,200	46,229	$3,852.45 Per Month	
VEHICLE - INSURANCE	0	1,000	1,000	No Change From 2024/2025 Budget	
VEHICLE - EQUIPMENT (SMALL TOOLS)	0	1,545	1,545	No Change From 2024/2025 Budget	
VEHICLE - GAS & MAINTENANCE	129	2,750	2,500	$250 Decrease From 2024/2025 Budget	
GOLF CART STORAGE	1,200	1,500	1,500	No Change From 2024/2025 Budget	
LAKE SPRAYING (SOLITUDE-CLARK)	79,552	100,000	100,000	No Change From 2024/2025 Budget	
LAKE WATER QUALITY TESTING (BENCHMARK)	4,051	6,000	6,000	No Change From 2024/2025 Budget	
STREET SWEEPING	0	0	10,000	Street Sweeping	
SPECIAL PROJECTS	0	15,000	10,000	Includes Littoral Plantings	
LAKE BANK MOWING	10,675	65,650	65,650	Tri-Annual Lake Bank Mowing	
OUTFALL PIPE & STRUCTURE INSPECTION & CLEANING	0	5,000	10,000	$5,000 Increase From 2024/2025 Budget	
STORM PIPE, ANNUAL INSPECTIONS & EROSION REPAIRS	0	48,000	53,000	Include Pipe TV-Ing	
DREDGING	0	1,000	1,000	No Change From 2024/2025 Budget	
MISCELLANEOUS MAINTENANCE	1,999	1,250	1,250	No Change From 2024/2025 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	143,235	$	291,895	$	309,674		
					
ADMINISTRATIVE EXPENDITURES					
ENGINEERING	4,759	13,500	13,000	$500 Decrease From 2024/2025 Budget	
MANAGEMENT	49,788	51,276	52,752	CPI Adjustment	
SECRETARIAL	4,200	4,200	4,200	No Change From 2024/2025 Budget	
LEGAL	8,703	15,000	15,000	No Change From 2024/2025 Budget	
ASSESSMENT ROLL	10,000	10,000	10,000	As Per Contract	
AUDIT FEES	4,100	4,200	4,300	Accepted Amount For 2024/2025 Audit	
ARBITRAGE REBATE FEE - SERIES 2013	650	650	650	No Change From 2024/2025 Budget	
ARBITRAGE REBATE FEE - SERIES 2018	650	650	650	No Change From 2024/2025 Budget	
INSURANCE	6,799	7,500	7,800	FY 24/25 Expenditure Was $7,265	
LEGAL ADVERTISING	3,068	2,050	2,495	$445 Increase From 2024/2025 Budget	
MISCELLANEOUS/CONTINGENCY	1,639	1,800	1,800	No Change From 2024/2025 Budget	
POSTAGE	1,846	700	700	No Change From 2024/2025 Budget	
OFFICE SUPPLIES	1,614	1,075	1,075	No Change From 2024/2025 Budget	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2024/2025 Budget	
WEBSITE MANAGEMENT	2,000	2,000	2,000	No Change From 2024/2025 Budget	
TRUSTEE FEES - SERIES 2013	4,730	4,730	4,730	No Change From 2024/2025 Budget	
TRUSTEE FEES - SERIES 2018	3,709	4,100	4,100	No Change From 2024/2025 Budget	
CONTINUING DISCLOSURE FEE	1,000	1,000	1,000	No Change From 2024/2025 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	109,430	$	124,606	$	126,427		
					
TOTAL EXPENDITURES	$	252,665	$	416,501	$	436,101		
					
REVENUES LESS EXPENDITURES	$	1,198,749	$	1,129,693	$	1,110,693		
					
BOND PAYMENTS (SERIES 2013)	(486,428)	(476,898)	(476,898)	2026 Principal & Interest Payments	
BOND PAYMENTS (SERIES 2018)	(548,610)	(536,921)	(536,921)	2026 Principal & Interest Payments	
					
BALANCE	$	163,711	$	115,874	$	96,874		
					
COUNTY APPRAISER & TAX COLLECTOR ADMINISTRATIVE COSTS	(16,334)	(53,302)	(53,302)	Three And One Half Percent Of Total Assessment Roll	
DISCOUNTS FOR EARLY PAYMENTS	(52,911)	(62,572)	(62,572)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	94,466	$	-	$	(19,000)		
					
CARRYOVER FROM PRIOR YEAR	0	0	19,000	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	94,466	$	-	$	-		

Note: Projected Available Funds Balance As Of 9-30-25 is $800,000

DETAILED PROPOSED DEBT SERVICE (SERIES 2013) FUND BUDGET
VERONA WALK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	FISCAL YEAR 2023/2024 ACTUAL	FISCAL YEAR 2024/2025 BUDGET	FISCAL YEAR 2025/2026 BUDGET	

COMMENTS	

Interest Income	
21,651	
400	
1,000	
Projected Interest For 2025/2026	

NAV Collection	
486,427	
476,898	
476,898	
Maximum Debt Service Collection	

Prepaid Bond Collection	
4,006	
0	
0	
Prepaid Bond Collection	

Total Revenues	
$	512,084	
$	477,298	
$	477,898		

EXPENDITURES					

Principal Payments (2013A-1)	
265,000	
280,000	
290,000	
Principal Payment Due In 2026	

Principal Payments (2013A-2)	
5,000	
5,000	
10,000	
Principal Payment Due In 2026	

Interest Payments (2013A-1)	
173,131	
157,263	
145,681	
Interest Payments Due In 2026	

Interest Payments (2013A-2)	
6,750	
5,125	
4,750	
Interest Payments Due In 2026	

Bond Redemption	
50,000	
29,910	
27,467	
Estimated Excess Debt Collections	

Total Expenditures	
$	499,881	
$	477,298	
$	477,898		

Excess/ (Shortfall)	
$	12,203	
$	-	
$	-		

Series 2013A-1 Bond Refunding Information	
Original Par Amount =	$6,455,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	1.1% - 4.375%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	June 2013			
Maturity Date =	May 2035			
Par Amount As Of 1/1/25 =	$3,800,000			

Series 2013A-2 Bond Refunding Information	
Original Par Amount =	$650,000	Annual Principal Payments Due =	May 1st	
Interest Rate =
Issue Date =	4.5% - 5.0%
June 2013	Annual Interest Payments Due =	May 1st & November 1st	
Maturity Date =	May 2035			
Par Amount As Of 1/1/25 =	$105,000			

DETAILED PROPOSED DEBT SERVICE (SERIES 2018) FUND BUDGET
VERONA WALK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2025/2026
OCTOBER 1, 2025 - SEPTEMBER 30, 2026

REVENUES	FISCAL YEAR 2023/2024 ACTUAL	FISCAL YEAR 2024/2025 BUDGET	FISCAL YEAR 2025/2026 BUDGET	

COMMENTS	

Interest Income	20,942	400	1,000	
Projected Interest For 2025/2026	

NAV Collection	
548,610	
536,921	
536,921	
Maximum Debt Service Collection	

Prepaid Bond Collection	
9,745	
0	
0	
Prepaid Bond Collection	

Total Revenues	
$	579,297	
$	537,321	
$	537,921		

EXPENDITURES					

Principal Payments	
365,000	
361,000	
373,000	
Principal Payment Due In 2026	

Interest Payments	
194,106	
176,121	
163,694	
Interest Payments Due In 2026	

Bond Redemption	
0	
200	
1,227	
Estimated Excess Debt Collections	

Total Expenditures	
$	559,106	
$	537,321	
$	537,921		

Excess/ (Shortfall)	
$	20,191	
$	-	
$	-		

Series 2018 Bond Refunding Information
Original Par Amount =	$7,677,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	3.25% - 5.375%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	March 2018			
Maturity Date =

Par Amount As Of 1/1/25 =	May 2037

$5,615,000			

Verona Walk Community Development District Assessment Comparison

Lot Size
Phase One		Fiscal Year 2021/2022
Assessment*	Fiscal Year 2022/2023
Assessment*	Fiscal Year 2023/2024
Assessment*	Fiscal Year 2024/2025
Assessment*	Fiscal Year 2025/2026
Projected Assessment*	
Townhome 26'	O & M	$	162.13	$	162.13	$	162.13	$	233.85	$	233.85	
Cayman	Debt	$	540.00	$	540.00	$	540.00	$	540.00	$	540.00	
	Total	
$	702.13	
$	702.13	
$	702.13	
$	773.85	
$	773.85	
							
Duplex 36'	O & M	$	162.13	$	162.13	$	162.13	$	233.85	$	233.85	
Capri/Carrington	Debt	$	540.00	$	540.00	$	540.00	$	540.00	$	540.00	
	Total	
$	702.13	
$	702.13	
$	702.13	
$	773.85	
$	773.85	
							
Single Family 50'	O & M	$	162.13	$	162.13	$	162.13	$	233.85	$	233.85	
Oakmont	Debt	$	635.00	$	635.00	$	635.00	$	635.00	$	635.00	
	Total	
$	797.13	
$	797.13	
$	797.13	
$	868.85	
$	868.85	
							
Single Family 60'	O & M	$	162.13	$	162.13	$	162.13	$	233.85	$	233.85	
Carlyle	Debt	$	730.00	$	730.00	$	730.00	$	730.00	$	730.00	
	Total	
$	892.13	
$	892.13	
$	892.13	
$	963.85	
$	963.85	

Phase Two							
Duplex 36'/SF 40'	O & M	$	162.13	$	162.13	$	162.13	$	233.85	$	233.85	
Capri/Carrington	Debt	$	511.00	$	511.00	$	511.00	$	511.00	$	511.00	
	Total	
$	673.13	
$	673.13	
$	673.13	
$	744.85	
$	744.85	
							
Single Family 40'	O & M	$	162.13	$	162.13	$	162.13	$	233.85	$	233.85	
Garden	Debt	$	577.00	$	577.00	$	577.00	$	577.00	$	577.00	
	Total	
$	739.13	
$	739.13	
$	739.13	
$	810.85	
$	810.85	
							
Single Family 50'	O & M	$	162.13	$	162.13	$	162.13	$	233.85	$	233.85	
Oakmont	Debt	$	601.00	$	601.00	$	601.00	$	601.00	$	601.00	
	Total	
$	763.13	
$	763.13	
$	763.13	
$	834.85	
$	834.85	
							
Single Family 60'	O & M	$	162.13	$	162.13	$	162.13	$	233.85	$	233.85	
Carlyle	Debt	$	691.00	$	691.00	$	691.00	$	691.00	$	691.00	
	Total	
$	853.13	
$	853.13	
$	853.13	
$	924.85	
$	924.85	
							
Single Family 65'	O & M	$	162.13	$	162.13	$	162.13	$	233.85	$	233.85	
Estate	Debt	$	759.00	$	759.00	$	759.00	$	759.00	$	759.00	
	Total	
$	921.13	
$	921.13	
$	921.13	
$	992.85	
$	992.85	

* Assessments Include the Following 4% Discount for Early Payments
2% County Property Appraiser Costs 1.5% County Tax Collector Costs
Community Information:
Phase I
No. of Units	
Type	
Front Footage	
Name	Maximum Annual
Debt Assessment	
Bond Prepayments	Lot
Differential Prepayment*	
246	Townhome	26'	Cayman	$	540	7	68	
350	Duplex	36'	Capri/Carrington	$	540	12	0	
242	Single Family	50'	Oakmont	$	635	8	-35	
97	Single Family	60'	Carlyle	$	730	1	1	
935					28	34	

Phase II
No. of Units	
Type	
Front Footage	
Name	Maximum Annual
Debt Assessment	
Bond Prepayments	Lot Disclosure
Differential Prepayment**	
443	Duplex/SF	36'/40'	Capri/Carrington	$	511	9	-4	
58	Duplex	40'	Garden	$	577	1	4	
325	SF	50'	Oakmont	$	601	8	0	
161	SF	60'/65'	Carlyle	$	691	0	0	
32	SF	65'	Estate	$	759	0	0	
1019					18	0	

Developer made Bond Prepayment in August 2014 for 34 lot differential (68 Phase 1 Caymans replaced with 34 Oakmonts)
Developer made Bond Prepayment in November 2014 for 1 lot differential (1 Phase 1 Carlyle replaced with 1 Oakmont)
** Developer built Carrington Homes on Garden Lots (Karina Street) - Debt Assessments for those lots was $678 - now $577.
** Developer made Bond Prepayment in November 2014 for 4 lot disclosure differential (4 40' disclosed at 36'/40' rate) Total Lots Assessed For O&M = 1920