Tapestry

Community Development District

Adopted Budget
FY2026

Presented by:

Table of Contents

1-2	General Fund

3-4	Narratives

5	Debt Service Fund Series 2016

6	Amortization Schedule

7	Assessment Comparison

Tapestry
Community Development District
Adopted Budget General Fund

	Adopted Budget	Actuals Thru	Projected Next	Projected Thru	Adopted Budget	
Description	FY2025	5/31/25		4 Months		9/30/25	FY 2026	

REVENUES:						
Special Assessments - On Roll	$203,354	$201,617	$1,737	$203,354	$203,354	
Interest income	$54	$17,085	$8,542	$25,627	$10,000	
Carry Forward Surplus	$80,870	$80,870	$0	$80,870	$74,274	
TOTAL REVENUES	$284,279	$299,572	$10,280	$309,851	$287,628	

EXPENDITURES:						
Administrative						
Supervisor Fees	$4,000	$800	$1,000	$1,800	$4,000	
FICA Taxes	$153	$46	$65	$111	$153	
Engineering	$10,000	$156	$5,000	$5,156	$10,000	
Attorney	$12,000	$1,716	$858	$2,573	$12,000	
Annual Audit	$3,800	$0	$3,800	$3,800	$3,800	
Assessment Administration	$2,783	$2,783	$0	$2,783	$2,783	
Arbitrage Rebate	$450	$450	$0	$450	$450	
Dissemination Agent	$3,675	$2,450	$1,225	$3,675	$3,785	
Trustee Fees	$3,500	$3,500	$0	$3,500	$3,850	
Management Fees	$45,000	$30,000	$15,000	$45,000	$45,000	
Information Technology	$1,260	$840	$420	$1,260	$1,298	
Website Maintenance	$840	$560	$280	$840	$865	
Telephone	$300	$0	$100	$100	$300	
Postage & Delivery	$800	$545	$272	$817	$800	
Insurance General Liability	$8,710	$7,662	$0	$7,662	$10,017	
Printing & Binding	$500	$34	$17	$51	$200	
Legal Advertising	$2,500	$280	$140	$419	$2,500	
Other Current Charges	$2,000	$679	$340	$1,019	$2,000	
Office Supplies	$500	$1	$1	$2	$500	
Property Appraiser	$600	$348	$0	$348	$600	
Dues, Licenses & Subscriptions	$175	$175	$0	$175	$175	
TOTAL ADMINISTRATIVE	$103,546	$53,024	$28,517	$81,541	$105,075	
Tapestry
Community Development District
Adopted Budget General Fund

Operations & Maintenance						
Field Expenditures						
Field Management	$15,750	$10,500	$5,250	$15,750	$16,223	
Property Insurance	$10,000	$1,916	$0	$1,916	$4,000	
Landscape Maintenance	$48,000	$32,000	$16,000	$48,000	$50,400	
Landscape Contingency	$17,000	$0	$2,500	$2,500	$17,000	
Lake Maintenance	$8,883	$5,352	$2,676	$8,028	$9,327	
Stormwater Maintenance	$20,000	$0	$2,500	$2,500	$20,000	
Wetland Maintenance	$4,600	$0	$1,000	$1,000	$4,600	
General Repairs & Maintenance	$11,000	$800	$2,500	$3,300	$11,000	
Midge Management	$37,500	$24,876	$12,438	$37,314	$39,375	
Contingency	$8,000	$0	$2,500	$2,500	$10,628	
TOTAL FIELD EXPENDITURES	$180,733	$75,444	$47,364	$122,808	$182,553	
						
TOTAL EXPENDITURES	$284,279	$128,468	$75,881	$204,349	$287,628	
						
EXCESS REVENUES (EXPENDITURES)	$0	$171,104	($65,601)	$105,502	$0	
				
Net Assessments	
$	203,354	
Add: Discounts & Collection 		12,980  Gross Assessments  $	216,334 

Product Type	
Units	
ERU	Total
ERU	Gross O&M
Per Unit	Net O&M
Per Unit	
Townhouse	304	0.6	182	$133.66	$125.64	
Single-Family 40'	337	0.9	303	$200.50	$188.47	
Single-Family 45'	101	1.0	101	$222.78	$209.41	
Single-Family 50'	249	1.1	274	$245.05	$230.35	
Single-Family 60'	85	1.3	111	$289.61	$272.23	
	1076		971			
Tapestry
Community Development District
Budget Narrative Fiscal Year 2025

Special Assessments-Tax Roll
The District will levy a Non-Ad Valorem assessment on platted parcels within the District in order to pay for the operating expenditures during the Fiscal Year.

Supervisors Fees
Chapter 190, Florida Statutes, allows for each Board member to receive $200 per meeting, not to exceed $4,800 per year paid to each Supervisor for the time devoted to District business and 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, Hanson, Walter, & Associates, provides general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review invoices, etc.
Attorney
The District's legal counsel, Kutak Rock LLP, provides general legal services to the District, e.g. attendance and preparation for meetings, preparation and review of agreements, resolutions, etc. as directed by the Board of Supervisors and the District Manager.
Annual Audit
The District is required by Florida Statutes to arrange for an independent audit of its financial records by an Independent Certified Public Accounting firm. The District has contracted with Grau & Associates.

Assessment Roll Administration
The District has contracted with Governmental Management Services-Central Florida LLC to levy and administer the collection of non-ad valorem assessments on all assessable property within the District.
Arbitrage Rebate
The District has contracted with AMTEC to annually calculate the District’s Arbitrage Rebate Liability on the Series 2016 Special Assessment Revenue Bonds.
Dissemination Agent
The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(5) which relates to additional reporting requirements for its Series 2016 Special Assessment Revenue Bonds.
Trustee Fees
The District has issued the Series 2016 Special Assessment Revenue Bonds with fees relating to the Trustee at Regions Bank.
Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services-Central Florida, LLC. The services include but are not limited to, recording and transcription of board meetings, administrative services, budget preparation, all financial reporting, annual audits, etc.
Information Technology
Represents various cost of information technology with Governmental Management Services-Central Florida LLC for the District such as video conferencing, cloud storage and servers, positive pay implementation and programming for fraud protection,
Website Maintenance
Represents the costs with Governmental Management Services – Central Florida, LLC associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc.
Communication - Telephone
New internet and Wi-Fi service for Office.
Postage and Delivery
Actual postage and/or freight used for District mailings including 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.
Printing and Binding
Copies used in the preparation of required mailings and other special projects.

Page 5
Tapestry
Community Development District
Budget Narrative Fiscal Year 2025

Legal Advertising
The District is required to advertise various notices for 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.
Property Appraiser
Represents a fee charged by Osceola County Property Appraiser’s office for assessment administration services.
Due, Licenses & Subscriptions
The District is required to pay an annual fee to the Florida Department of Commerce for $175.

Field Management
The District has contracted with Governmental Management Services-Central Florida, LLC to provide onsite field management of contracts for the District such as landscape and lake maintenance. Services to include onsite inspections, meetings with contractors, attend Board meetings and receive and respond to property owner phone calls and emails.
Property Insurance
The District’s property insurance coverage will be provided by Florida Insurance Alliance (FIA). FIA specializes in providing insurance coverage to governmental agencies.

Landscape Maintenance
The District has contracted with Blade Runners Commercial Landscaping to provide monthly landscape services to common areas overseen by the District.
Description	Monthly	Annual
Landscaping Maintenance	$4,200	$50,400

Landscape Contingency
Represents estimated costs for any additional landscape expenditure not covered under the monthly landscape maintenance
Lake Maintenance
The District has contracted with Applied Aquatic Management, Inc. to schedule inspections and treatments of aquatic weeds and algae within CDD lakes.
Description	Monthly	Annual	
Lake Maintenance - 5 Lakes	$740	$8,883	
Contingency		$444	
	Total	$9,327	
Stormwater Maintenance
The District will incur costs related to maintaining the storm water systems. The amount is based on estimated costs.
Wetland Maintenance
The District will incur costs related to maintaining the wetlands located within its boundaries. The amount is based on estimated
Description	Quarterly	Annual

Plant Replacement
Wetland Maintenance
$1,150	$4,600
Represents estimated costs related to the possible replacement of landscaping needed throughout the fiscal year.
General Repairs & Maintenance
Represents estimated costs related to repairs and maintenance across commons areas in the District boundaries.

Midge Management
Represents the contracted monthly fee for Midge Management with Clarke Environmental.			
Description	Monthly	Annual	
Midge Maintenance	$3,266	$39,186	
Contingency		$189	
	Total	
$39,375	
Expenditures – Field (continued)			
Contingency
Represents unforeseen field expenditures not budgeted for in other line items.			

Page 6
Tapestry
Community Development District
Adopted Budget
Debt Service Series 2016 Special Assessment Revenue Bonds

REVENUES:

Special Assessments-On Roll	$465,237	$461,315	$3,922	$465,237	$465,237	
Interest Earnings	$22,158	$23,991	$11,995	$35,986	$17,993	
Carry Forward Surplus (1)	$235,116	$275,981	$0	$275,981	$314,879	
TOTAL REVENUES	$722,511	$761,287	$15,917	$777,204	$798,110	

EXPENDITURES:						
Interest - 11/1	$151,163	$151,163	$0	$151,163	$147,763	
Interest - 5/1	$151,163	$151,163	$0	$151,163	$147,763	
Principal - 5/1	$160,000	$160,000	$0	$160,000	$170,000	
TOTAL EXPENDITURES	$462,325	$462,325	$0	$462,325	$465,525	
						
EXCESS REVENUES (EXPENDITURES)	$260,186	$298,962	$15,917.32	$314,879	$332,585	

 Interest 11/1/26	$144,150 

Net Assessments	$	465,237	
Add: Discounts & Collection	$	29,696	
Gross Assessments	$	494,933	

Product Type	
Units	
ERU	Total
ERU	Gross Debt
Per Unit	Net Debt
Per Unit	
Townhouse	304	0.6	182	$307	$287	
Single-Family 40'	337	0.9	303	$460	$431	
Single-Family 45'	101	1.0	101	$511	$479	
Single-Family 50'	249	1.1	274	$562	$527	
Single-Family 60'	85	1.3	111	$664	$623	
	1076		971			
Tapestry Community Development District Series 2016 Special Assessment Bonds
Amortization Schedule

Date		Balance		Prinicpal		Interest		Total	
									
11/01/25	$	6,025,000.00	$	-	$	147,762.50	$	458,925.00	
05/01/26	$	6,025,000.00	$	170,000.00	$	147,762.50			
11/01/26	$	5,855,000.00	$	-	$	144,150.00	$	461,912.50	
05/01/27	$	5,855,000.00	$	180,000.00	$	144,150.00			
11/01/27	$	5,675,000.00	$	-	$	139,830.00	$	463,980.00	
05/01/28	$	5,675,000.00	$	185,000.00	$	139,830.00			
11/01/28	$	5,490,000.00	$	-	$	135,390.00	$	460,220.00	
05/01/29	$	5,490,000.00	$	195,000.00	$	135,390.00			
11/01/29	$	5,295,000.00	$	-	$	130,710.00	$	461,100.00	
05/01/30	$	5,295,000.00	$	205,000.00	$	130,710.00			
11/01/30	$	5,090,000.00	$	-	$	125,790.00	$	461,500.00	
05/01/31	$	5,090,000.00	$	215,000.00	$	125,790.00			
11/01/31	$	4,875,000.00	$	-	$	120,630.00	$	461,420.00	
05/01/32	$	4,875,000.00	$	225,000.00	$	120,630.00			
11/01/32	$	4,650,000.00	$	-	$	115,230.00	$	460,860.00	
05/01/33	$	4,650,000.00	$	235,000.00	$	115,230.00			
11/01/33	$	4,415,000.00	$	-	$	109,590.00	$	459,820.00	
05/01/34	$	4,415,000.00	$	250,000.00	$	109,590.00			
11/01/34	$	4,165,000.00	$	-	$	103,590.00	$	463,180.00	
05/01/35	$	4,165,000.00	$	260,000.00	$	103,590.00			
11/01/35	$	3,905,000.00	$	-	$	97,350.00	$	460,940.00	
05/01/36	$	3,905,000.00	$	275,000.00	$	97,350.00			
11/01/36	$	3,630,000.00	$	-	$	90,750.00	$	463,100.00	
05/01/37	$	3,630,000.00	$	285,000.00	$	90,750.00			
11/01/37	$	3,345,000.00	$	-	$	83,625.00	$	459,375.00	
05/01/38	$	3,345,000.00	$	300,000.00	$	83,625.00			
11/01/38	$	3,045,000.00	$	-	$	76,125.00	$	459,750.00	
05/01/39	$	3,045,000.00	$	315,000.00	$	76,125.00			
11/01/39	$	2,730,000.00	$	-	$	68,250.00	$	459,375.00	
05/01/40	$	2,730,000.00	$	335,000.00	$	68,250.00			
11/01/40	$	2,395,000.00	$	-	$	59,875.00	$	463,125.00	
05/01/41	$	2,395,000.00	$	350,000.00	$	59,875.00			
11/01/41	$	2,045,000.00	$	-	$	51,125.00	$	461,000.00	
05/01/42	$	2,045,000.00	$	370,000.00	$	51,125.00			
11/01/42	$	1,675,000.00	$	-	$	41,875.00	$	463,000.00	
05/01/43	$	1,675,000.00	$	390,000.00	$	41,875.00			
11/01/43	$	1,285,000.00	$	-	$	32,125.00	$	464,000.00	
05/01/44	$	1,285,000.00	$	405,000.00	$	32,125.00			
11/01/44	$	880,000.00	$	-	$	22,000.00	$	459,125.00	
05/01/45	$	880,000.00	$	430,000.00	$	22,000.00			
11/01/45	$	450,000.00	$	-	$	11,250.00	$	463,250.00	
05/01/46	$	450,000.00	$	450,000.00	$	11,250.00	$	461,250.00	
			$	6,775,000.00	$	5,225,282.50	$	12,000,282.50	
Tapestry
Community Development District
Non-Ad Valorem Assessments Comparison 2025-2026

Neighborhood	O&M Units	Bonds 2016
Units	
Annual Maintenance Assessments	
Annual Debt Assessments	
Total Assessed Per Unit							
	
FY 2026	
FY2025	Increase/ (decrease)	
FY 2026	
FY2025	Increase/ (decrease)	
FY 2026	
FY2025	Increase/ (decrease)			

Townhouse	

304	

304	

$133.66	

$133.66	

$0.00	

$305.80	

$305.80	

$0.00	

$439.46	

$439.46	

$0.00	
Single-Family 40'	337	337	$200.49	$200.49	$0.00	$458.70	$458.70	$0.00	$659.19	$659.19	$0.00	
Single-Family 45'	101	101	$222.77	$222.77	$0.00	$509.66	$509.66	$0.00	$732.43	$732.43	$0.00	
Single-Family 50'	249	249	$245.05	$245.05	$0.00	$560.63	$560.63	$0.00	$805.68	$805.68	$0.00	
Single-Family 60'	85	85	$289.60	$289.60	$0.00	$662.56	$662.56	$0.00	$952.17	$952.17	$0.00	
Total	1076	1076										

Townhouse	

304	

304	

$40,633.64	

$40,633.64	

$0.00	

$92,962.45	

$92,962.45	

$0.00	

$133,596.10	

$133,596.10	

$0.00	
Single-Family 40'	337	337	$67,566.80	$67,566.80	$0.00	$154,580.66	$154,580.66	$0.00	$222,147.46	$222,147.46	$0.00	
Single-Family 45'	101	101	$22,499.99	$22,499.99	$0.00	$51,475.92	$51,475.92	$0.00	$73,975.91	$73,975.91	$0.00	
Single-Family 50'	249	249	$61,017.29	$61,017.29	$0.00	$139,596.58	$139,596.58	$0.00	$200,613.88	$200,613.88	$0.00	
Single-Family 60'	85	85	$24,616.32	$24,616.32	$0.00	$56,317.72	$56,317.72	$0.00	$80,934.04	$80,934.04	$0.00	
	1076	1076										

Gross Assessments			

$216,334.04	

$216,334.04	

$0.00	

$494,933.33	

$494,933.33	

$0.00	

$711,267.38	

$711,267.38	

$0.00	
Less: Discount	4.00%		$8,653.36	$8,653.36	$0.00	$19,797.33	$19,797.33	$0.00	$28,450.69	$28,450.69	$0.00	
Less: Commission fees	2.00%		$4,326.68	$4,326.68	$0.00	$9,898.67	$9,898.67	$0.00	$14,225.35	$14,225.35	$0.00	
Net Assessments	$203,354.00	$203,354.00	$0.00	$465,237.33	$465,237.33	$0.00	$668,591.34	$668,591.34	$0.00