Verano #1
Community Development District

Adopted Budget
FY 2026

Table of Contents

1

2

3-4

5-7

	General Fund

	Narratives

	Debt Service Fund Series 2015

	Debt Service Fund Series 2017

8		Assessment Schedule

Verano #1	
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 - Tax Roll/
Intergovernmental Transfer (1)	$	34,006	$	34,006	$	-	$	34,006	$	33,931	
Carry Forward Balance	-	-	-	-	-	

TOTAL REVENUES	$	34,006	$	34,006	$	-	$	34,006	$	33,931	

EXPENDITURES:

Administrative:						
Supervisor Fees	$	4,000	$	2,800	$	1,000	$	3,800	$	4,000	
FICA Taxes	306	214	92	306	306	
Consulting Service	2,000	-	-	-	-	
Annual Audit	3,600	3,600	-	3,600	3,700	
Arbitrage Rebate	1,100	-	1,100	1,100	1,100	
Dissemination Agent	5,250	3,600	1,750	5,350	5,513	
Trustee Fees	9,000	-	9,000	9,000	9,900	
Website Maintenance	788	525	262	788	827	
Insurance General Liability	6,987	6,320	-	6,320	7,610	
Other Current Charges	800	237	3,330	3,567	800	
Dues, Licenses & Subscriptions	175	175	-	175	175	

TOTAL ADMINISTRATIVE	$	34,006	$	17,472	$	16,534	$	34,006	$	33,931	

TOTAL EXPENDITURES	$	34,006	$	17,472	$	16,534	$	34,006	$	33,931	

EXCESS REVENUES (EXPENDITURES)	$	-	$	16,534	$	(16,534)	$	-	$	-	
(1) Transfers from Verano #5					
		Gross Assessments		$	161,991	
		Less: Discounts & Collections 8%			12,959 	
		Net Assessments (collected in Verano #5)	 $	149,032 	
		Net Assessments (1)		 $	33,931 	

Product	Assessable Units	Total Gross Assessment	FY25
Gross Per Unit	FY26
Gross Per Unit	Increase/ (Decrease)	
Residential						
Single Family - 40's	210	$	28,707.00	$	136.70	$	136.70	$	-	
Single Family - 50's	342	$	53,765.82	$	157.21	$	157.21	$	-	
Single Family - 60's	176	$	31,998.56	$	181.81	$	181.81	$	-	
Manor/Duplex	310	$	37,714.60	$	121.66	$	121.66	$	-	
Non Residential						
Clubhouse	32565	$	3,205.12	$	0.10	$	0.10	$	-	
Commercial	60000	$	6,600.00	$	0.11	$	0.11	$	-	

Total	1038	$ 161,991.10	

Verano #1	
Community Development District	
Budget Narrative	
FY 2026	

REVENUES

Special Assessments - Tax Roll/ Intergovernmental Transfer	
The District will levy a non-ad valorem maintenance assessment on the developable property within the District to fund the operating budget. The assessments are collected in Verano#5 and transferred to Verano # 1.	

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 12 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.	
Consultant Service	
The District’ has contracted with Robert L. Fromm & Associates for meeting attendance and budget review and preparation.	
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.	
Arbitrage Rebate	
The District has contracted with its independent auditors to annually calculate the arbitrage rebate liability on its bonds.	
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 issued this Series of 2015 and 2017 Special Assessment Bonds that are deposited with a Trustee to handle all trustee	
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.	
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.	
Other Current Charges	
Bank charges and any other miscellaneous expenses that incurred during the year.	
Due, Licenses & Subscriptions	
The District is required to pay an annual fee to the Florida Department of Commerce for $175.	

Verano #1	
Community Development District	
Adopted Budget	
Debt Service Series 2015, Special Assessment Bonds	

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 - Tax Roll	$	531,106	$	526,516	$	4,590	$	531,106	$	531,106	
Interest Income	15,000	21,789	8,211	30,000	15,000	
Carry Forward Balance	415,662	403,682	-	403,682	441,319	

TOTAL REVENUES	$	961,768	$	951,986	$	12,802	$	964,788	$	987,425	

EXPENDITURES:

Interest - 11/01	$	181,194	$	181,194	$	-	$	181,194	$	177,275	
Principal - 11/01	165,000	165,000	-	165,000	175,000	
Interest - 05/01	177,275	177,275	-	177,275	173,119	

TOTAL EXPENDITURES	$	523,469	$	523,469	$	-	$	523,469	$	525,394	

Other Sources/(Uses)

Transfer in/(Out)	$	-	$	-	$	-	$	-	$	-	

TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	

EXCESS REVENUES (EXPENDITURES)	$	438,299	$	428,518	$	12,802	$	441,319	$	462,031	

Principal 11/01/2026	
Interest 11/01/2026	

$	185,000	
	173,119 	
 $	358,119 	

Gross Assessments	
Less: Discounts & Collections 8%	
Net Assessments	

$	577,289	
	46,183 	
 $	531,106 	

Product	Assessable Units	Total Gross Assessment	FY25
Gross Per Unit	FY26
Gross Per Unit	Increase/ (Decrease)	
Residential						
Single Family - 40's	163	$  191,525.00	$	1,175.00	$	1,175.00	$	-	
Single Family - 50's	81	$  109,755.00	$	1,355.00	$	1,355.00	$	-	
Single Family - 60's	60	$	93,840.00	$	1,564.00	$	1,564.00	$	-	
Manor/Duplex	173	$  182,169.00	$	1,053.00	$	1,053.00	$	-	

Total	477	$ 577,289.00	

Verano #1	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2015, Special Assessment Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

11/01/15	$	8,035,000	4.750%	$	-	$	138,577	$	138,577	
05/01/16	8,035,000	4.750%	-	206,147		
11/01/16	8,035,000	4.750%	-	206,147	412,294	
05/01/17	8,035,000	4.750%	-	206,147		
11/01/17	8,035,000	4.750%	120,000	206,147	532,294	
05/01/18	7,915,000	4.750%	-	203,297		
11/01/18	7,915,000	4.750%	140,000	203,297	546,594	
05/01/19	7,775,000	4.750%		199,938		
11/01/19	7,775,000	4.750%	135,000	199,938	534,875	
05/01/20	7,640,000	4.750%	20,000	196,731		
11/01/20	7,620,000	4.750%	140,000	196,231	552,963	
05/01/21	7,480,000	4.750%		192,906		
11/01/21	7,480,000	4.750%	160,000	192,906	545,813	
05/01/22	7,320,000	4.750%	10,000	189,072		
11/01/22	7,310,000	4.750%	155,000	188,813	542,884	
05/01/23	7,155,000	4.750%		185,122		
11/01/23	7,155,000	4.750%	160,000	185,122	530,244	
05/01/24	6,995,000	4.750%	5,000	181,322		
11/01/24	6,990,000	4.750%	165,000	181,194	532,516	
05/01/25	6,825,000	4.750%		177,275		
11/01/25	6,825,000	4.750%	175,000	177,275	529,550	
05/01/26	6,650,000	5.125%		173,119		
11/01/26	6,650,000	5.125%	185,000	173,119	531,238	
05/01/27	6,465,000	5.125%		168,378		
11/01/27	6,465,000	5.125%	190,000	168,378	526,756	
05/01/28	6,275,000	5.125%		163,509		
11/01/28	6,275,000	5.125%	200,000	163,509	527,019	
05/01/29	6,075,000	5.125%		158,384		
11/01/29	6,075,000	5.125%	210,000	158,384	526,769	
05/01/30	5,865,000	5.125%		153,003		
11/01/30	5,865,000	5.125%	225,000	153,003	531,006	
05/01/31	5,640,000	5.125%		147,238		
11/01/31	5,640,000	5.125%	235,000	147,238	529,475	
05/01/32	5,405,000	5.125%		141,216		
11/01/32	5,405,000	5.125%	245,000	141,216	527,431	
05/01/33	5,160,000	5.125%		134,938		
11/01/33	5,160,000	5.125%	260,000	134,938	529,875	
05/01/34	4,900,000	5.125%		128,275		
11/01/34	4,900,000	5.125%	275,000	128,275	531,550	
05/01/35	4,625,000	5.125%		121,228		
11/01/35	4,625,000	5.125%	285,000	121,228	527,456	
05/01/36	4,340,000	5.250%		113,925		
11/01/36	4,340,000	5.250%	300,000	113,925	527,850	
05/01/37	4,040,000	5.250%		106,050		
11/01/37	4,040,000	5.250%	315,000	106,050	527,100	
05/01/38	3,725,000	5.250%		97,781		
11/01/38	3,725,000	5.250%	335,000	97,781	530,563	
05/01/39	3,390,000	5.250%		88,988		
11/01/39	3,390,000	5.250%	350,000	88,988	527,975	
05/01/40	3,040,000	5.250%		79,800		
11/01/40	3,040,000	5.250%	370,000	79,800	529,600	
05/01/41	2,670,000	5.250%		70,088		
11/01/41	2,670,000	5.250%	390,000	70,088	530,175	
05/01/42	2,280,000	5.250%		59,850		
11/01/42	2,280,000	5.250%	410,000	59,850	529,700	
05/01/43	1,870,000	5.250%		49,088		
11/01/43	1,870,000	5.250%	430,000	49,088	528,175	
05/01/44	1,440,000	5.250%		37,800		
11/01/44	1,440,000	5.250%	455,000	37,800	530,600	
05/01/45	985,000	5.250%		25,856		
11/01/45	985,000	5.250%	480,000	25,856	531,713	
05/01/46	505,000	5.250%		13,256		
11/01/46	505,000	5.250%	505,000	13,256	531,513	

TOTAL	$8,035,000	$8,477,139	$16,512,139	

Verano #1	
Community Development District	
Adopted Budget	
Debt Service Series 2017, Special Assessment Refunding Bonds	

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 - Tax Roll	$	630,162	$	626,788	$	3,375	$	630,162	$	628,896	
Special Assessments - Prepayments	-	12,029	-	12,029	-	
Interest Income	15,000	24,135	5,865	30,000	15,000	
Carry Forward Balance	262,857	230,683	-	230,683	265,500	

TOTAL REVENUES	$	908,020	$	893,635	$	9,240	$	902,875	$	909,396	

EXPENDITURES:

Series 2017A-1						
Interest - 11/01	$	117,019	$	117,019	$	-	$	117,019	$	110,606	
Interest - 05/01	355,000	355,000	-	355,000	370,000	
Principal - 05/01	117,019	117,019	-	117,019	110,606	
Special Call - 05/01	-	10,000	-	10,000	-	

Series 2017A-2						
Interest - 11/01	9,169	9,169	-	9,169	8,694	
Interest - 05/01	9,169	9,169	-	9,169	8,694	
Principal - 05/01	20,000	20,000	-	20,000	20,000	

TOTAL EXPENDITURES	$	627,375	$	637,375	$	-	$	637,375	$	628,600	

Other Sources/(Uses)

Transfer in/(Out)	$-	$-	$-	$-	$-	

TOTAL OTHER SOURCES/(USES)	$	-	$	-	$	-	$	-	$	-	

EXCESS REVENUES (EXPENDITURES)	$	280,645	$	256,260	$	9,240	$	265,500	$	280,796	

A-1 Interest 11/01/2026	
A-2 Interest 11/01/2026	

$	103,900	
	8,219 	
 $	112,119 	

Gross Assessments	
Less: Discounts & Collections 8%	
Net Assessments	

$	683,583	
	54,687 	
 $	628,896 	

Product	Assessable Units	Total Gross Assessment	FY25
Gross Per Unit	FY26
Gross Per Unit	Increase/ (Decrease)	
Residential						
Single Family - 40's	45	$	46,485.00	$	1,033.00	$	1,033.00	$	-	
Single Family - 50's	250	$  298,000.00	$	1,192.00	$	1,192.00	$	-	
Single Family - 60's	112	$  154,112.00	$	1,376.00	$	1,376.00	$	-	
Manor/Duplex	125	$  114,625.00	$	917.00	$	917.00	$	-	
Non Residential						
Clubhouse	19665	$	16,031.25	$	0.82	$	0.82	$	-	
Commercial	35000	$	28,125.71	$	0.80	$	0.80	$	-	
Commercial (Future)	30000	$	26,203.96	$	0.87	$	0.87	$	-	

Total	532	$ 683,582.92	

Verano #1	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2017A-1 Senior Special Assessment Refunding Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

11/01/17	$	8,160,000	2.000%	$	-	$	123,609	$	123,609	
05/01/18	8,160,000	2.000%	295,000	147,349		
11/01/18	7,865,000	2.250%	-	144,399	586,748	
05/01/19	7,865,000	2.250%	300,000	144,399		
11/01/19	7,565,000	2.500%	-	141,024	585,423	
05/01/20	7,565,000	2.500%	305,000	141,024		
11/01/20	7,260,000	2.750%	10,000	137,211	593,235	
05/01/21	7,250,000	2.750%	315,000	137,024		
11/01/21	6,935,000	3.000%	-	132,693	584,716	
05/01/22	6,935,000	3.000%	325,000	132,693		
11/01/22	6,610,000	3.100%		127,818	585,510	
05/01/23	6,610,000	3.100%	335,000	127,818		
11/01/23	6,275,000	3.250%		122,625	585,443	
05/01/24	6,275,000	3.250%	345,000	122,625		
11/01/24	5,930,000	3.500%	-	117,019	584,644	
05/01/25	5,930,000	3.500%	365,000	117,019		
11/01/25	5,565,000	3.625%		110,606	592,625	
05/01/26	5,565,000	3.625%	370,000	110,606		
11/01/26	5,195,000	3.250%		103,900	584,506	
05/01/27	5,195,000	4.000%	385,000	103,900		
11/01/27	4,810,000	4.000%		96,200	585,100	
05/01/28	4,810,000	4.000%	400,000	96,200		
11/01/28	4,410,000	4.000%		88,200	584,400	
05/01/29	4,410,000	4.000%	415,000	88,200		
11/01/29	3,995,000	4.000%		79,900	583,100	
05/01/30	3,995,000	4.000%	430,000	79,900		
11/01/30	3,565,000	4.000%		71,300	581,200	
05/01/31	3,565,000	4.000%	450,000	71,300		
11/01/31	3,115,000	4.000%		62,300	583,600	
05/01/32	3,115,000	4.000%	470,000	62,300		
11/01/32	2,645,000	4.000%		52,900	585,200	
05/01/33	2,645,000	4.000%	490,000	52,900		
11/01/33	2,155,000	4.000%		43,100	586,000	
05/01/34	2,155,000	4.000%	505,000	43,100		
11/01/34	1,650,000	4.000%		33,000	581,100	
05/01/35	1,650,000	4.000%	530,000	33,000		
11/01/35	1,120,000	4.000%		22,400	585,400	
05/01/36	1,120,000	4.000%	550,000	22,400		
11/01/36	570,000	4.000%		11,400	583,800	
05/01/37	570,000	4.000%	570,000	11,400	581,400	

TOTAL	$8,160,000	$3,666,758	$11,826,758	

Verano #1	
Community Development District	
AMORTIZATION SCHEDULE	
Debt Service Series 2017, Subordinate Special Assessment Refunding Bonds	

Period	Outstanding Balance	Coupons	Principal	Interest	Annual Debt Service	

11/01/17	$	555,000	4.000%	$	-	$	11,100	$	11,100	
05/01/18	555,000	4.000%	20,000	13,231		
11/01/18	535,000	4.000%		12,831	46,063	
05/01/19	535,000	4.000%	20,000	12,831		
11/01/19	515,000	4.000%		12,431	45,263	
05/01/20	515,000	4.000%	20,000	12,431		
11/01/20	495,000	4.000%		12,031	44,463	
05/01/21	495,000	4.000%	20,000	12,031		
11/01/21	475,000	4.000%		11,631	43,663	
05/01/22	475,000	4.000%	20,000	11,631		
11/01/22	455,000	4.750%	35,000	11,231	77,863	
05/01/23	420,000	4.750%	20,000	10,363		
11/01/23	400,000	4.750%	10,000	9,881	50,244	
05/01/24	390,000	4.750%	20,000	9,644		
11/01/24	370,000	4.750%	-	9,169	38,813	
05/01/25	370,000	4.750%	20,000	9,169		
11/01/25	350,000	4.750%		8,694	37,863	
05/01/26	350,000	4.750%	20,000	8,694		
11/01/26	330,000	4.750%		8,219	36,913	
05/01/27	330,000	4.750%	25,000	8,219		
11/01/27	305,000	5.000%		7,625	40,844	
05/01/28	305,000	5.000%	25,000	7,625		
11/01/28	280,000	5.000%		7,000	39,625	
05/01/29	280,000	5.000%	25,000	7,000		
11/01/29	255,000	5.000%		6,375	38,375	
05/01/30	255,000	5.000%	25,000	6,375		
11/01/30	230,000	5.000%		5,750	37,125	
05/01/31	230,000	5.000%	30,000	5,750		
11/01/31	200,000	5.000%		5,000	40,750	
05/01/32	200,000	5.000%	30,000	5,000		
11/01/32	170,000	5.000%		4,250	39,250	
05/01/33	170,000	5.000%	30,000	4,250		
11/01/33	140,000	5.000%		3,500	37,750	
05/01/34	140,000	5.000%	30,000	3,500		
11/01/34	110,000	5.000%		2,750	36,250	
05/01/35	110,000	5.000%	35,000	2,750		
11/01/35	75,000	5.000%		1,875	39,625	
05/01/36	75,000	5.000%	35,000	1,875		
11/01/36	40,000	5.000%		1,000	37,875	
05/01/37	40,000	5.000%	40,000	1,000	41,000	

TOTAL	$555,000	$305,712	$860,712	

Verano #1	
Community Development District	
Non-Ad Valorem Assessments Comparison	
2025-2026	

Neighborhood	O&M Units/ Acres	Bonds Units 2015	Bonds Units 2017	
Annual Maintenance Assessments	
Annual Debt Assessments	
Total Assessed Per Unit	
Increase/ (Decrease)	
	
FY 2026	
FY2025	Increase/ (decrease)	FY 2026	FY2025	FY 2026	FY2025	
Total	

Residential				O&M	O&M		Series 2015	Series 2017	Series 2015	Series 2017	Series 2015	Series 2017	Series 2015	Series 2017		
Single Family - 40's	210	163	45	$	136.70	$	136.70	$	-	$	1,175.00	$	1,033.00	$	1,175.00	$	1,033.00	$	1,311.70	$	1,169.70	$	1,311.70	$	1,169.70	$	-	
Single Family - 50's	342	81	250	$	157.21	$	157.21	$	-	$	1,355.00	$	1,192.00	$	1,355.00	$	1,192.00	$	1,512.21	$	1,349.21	$	1,512.21	$	1,349.21	$	-	
Single Family - 60's	176	60	112	$	181.81	$	181.81	$	-	$	1,564.00	$	1,376.00	$	1,564.00	$	1,376.00	$	1,745.81	$	1,557.81	$	1,745.81	$	1,557.81	$	-	
Manor/Duplex	310	173	125	$	121.66	$	121.66	$	-	$	1,053.00	$	917.00	$	1,053.00	$	917.00	$	1,174.66	$	1,038.66	$	1,174.66	$	1,038.66	$	-	
Non Residential																
Clubhouse	32565	0	19665	$	0.0984	$	0.0984	$	-	$	-	$	0.82	$	-	$	0.82	$	-	$	0.92	$	-	$	0.92	$	-	
Commercial	60000	0	35000	$	0.1100	$	0.1100	$	-	$	-	$	0.80	$	-	$	0.80	$	-	$	0.91	$	-	$	0.91	$	-	
Commercial (Future)	0	0	30000	$	-	$	-	$	-	$	-	$	0.87	$	-	$	0.87	$	-	$	0.87	$	-	$	0.87	$	-	
Total Units	1038	477	532													
Total Acres	92565	0	84665													

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