LIVE OAK NO. 2
Community Development District

Annual Operating and Debt Service Budget
Fiscal Year 2026

Adopted Final Budget

Prepared by:

LIVE OAK NO. 2

Community Development District

Table of Contents	

OPERATING BUDGET
General Fund

Summary of Revenues, Expenditures and Changes in Fund Balances …………………………….. Exhibit A - Allocation of Fund Balances …………………………………………………………………. Budget Narrative ……………………………………………………………………………………………	Page #

1-2

3

4-6	

DEBT SERVICE BUDGET

Series 2016

Summary of Revenues, Expenditures and Changes in Fund Balances …………………………….. Amortization Schedule ……………………………………………………………………………………	

7

8	

SUPPORTING BUDGET SCHEDULES

2025-2026 Non-Ad Valorem Assessment Summary	

…………………………………………………	

9	

Live Oak No. 2
Community Development District

Budget Overview
Fiscal Year 2026

Live Oak No. 2
Community Development District

Operating Budget
Fiscal Year 2026

LIVE OAK NO. 2

Community Development District	General Fund

Summary of Revenues, Expenditures and Changes in Fund Balances
Fiscal Year 2026 Budget

	ADOPTED	ACTUAL	PROJECTED	TOTAL	ANNUAL	
	BUDGET	THRU	July-	PROJECTED	BUDGET	
ACCOUNT DESCRIPTION	FY 2025	6/30/2025	9/30/2025	FY 2025	FY 2026	
REVENUES						
Interest - Investments	$	1,500	$	13,091	-	$	13,091	$	15,000	
Interest - Tax Collector	50	919	-	$	919	-	
Special Assmnts- Tax Collector	253,094	244,134	8,960	$	253,094	253,094	
Special Assmnts- Discounts	(10,124)	(9,690)	(10,124)	$	(19,814)	(10,124)	
TOTAL REVENUES	244,520	248,454	(1,164)	247,290	257,970	

EXPENDITURES						
Administrative						
P/R-Board of Supervisors	6,000	1,415	4,585	$	6,000	6,000	
FICA Taxes	459	122	337	$	459	459	
ProfServ-Arbitrage Rebate	600	-	600	$	600	600	
ProfServ-Dissemination Agent	1,000	-	1,000	$	1,000	1,000	
ProfServ-Engineering	25,000	-	25,000	$	25,000	25,000	
ProfServ-Legal Services	3,000	1,614	1,386	$	3,000	3,000	
ProfServ-Mgmt Consulting Serv	40,000	30,000	10,000	$	40,000	41,200	
ProfServ-Special Assessment	12,500	12,500	-	$	12,500	12,500	
ProfServ-Trustee Fees	3,971	3,205	766	$	3,971	3,971	
Auditing Services	3,700	-	3,700	$	3,700	3,700	
Postage and Freight	500	12	488	$	500	500	
Insurance - General Liability	8,674	7,517	1,157	$	8,674	8,957	
Printing and Binding	300	-	300	$	300	300	
Legal Advertising	900	-	900	$	900	900	
Miscellaneous Services	300	-	300	$	300	300	
Misc-Assessmnt Collection Cost	5,062	4,087	975	$	5,062	5,062	
Misc-Contingency			-	$	-	7,905	
Misc-Web Hosting	2,604	1,733	871	$	2,604	2,604	
Office Supplies	100	-	100	$	100	100	
Annual District Filing Fee	$	175	$	175	-	$	175	175	
Total Administrative	114,845	62,380	52,465	114,845	124,233	

Field						
Contracts-Envirom'l Monitoring	5,800	1,199	4,601	$	5,800	5,800	
Contracts-Landscape	41,040	30,780	10,260	$	41,040	42,500	
Contracts-Lakes	19,116	15,657	3,459	$	19,116	22,000	
R&M-Fence	5,000		5,000	$	5,000	5,000	
R&M-Lake	7,500		7,500	$	7,500	7,500	
R&M-Wetland Monitoring	8,000	-	8,000	$	8,000	8,000	
Misc-Contingency	12,038	6,443	5,595	$	12,038	11,755	
Reserve - Ponds	31,182	8,105	23,077	$	31,182	31,182	
Total Field	129,676	62,184	67,492	129,676	133,737	
						
TOTAL EXPENDITURES	244,521	124,564	119,957	244,521	257,970	

Excess (deficiency) of revenues						
Over (under) expenditures	(1)	123,890	(121,121)	2,769	-	

Net change in fund balance	
(1)	
123,890	
(121,121)	
2,769	
-	
FUND BALANCE, BEGINNING	
804,352	
702,600	
-	
804,352	
807,121	
FUND BALANCE, ENDING	$  804,351	$  826,490	$  (121,121)	$	807,121	$	807,121	

Annual Operating and Debt Service Budget Fiscal Year 2025

Live Oak No. 2
Community Development District	General Fund

Budget Narrative
Fiscal Year 2026

REVENUES

Interest-Investments
The District earns interest on the monthly average collected balance for their operating account.

Special Assessment – Tax Collector
The District will 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.

Special Assessment – Discount
Per Section 197.162, Florida Statutes, discounts are allowed for early payment of assessments. The budgeted amount for the fiscal year is calculated at 4% of the anticipated Non-Ad Valorem assessments.

EXPENDITURES

ADMINISTRATIVE
P/R Board of Supervisor
Chapter 190 of the Florida Statutes allows for a member of the Board of Supervisors to be compensated for a meeting attendance and to receive $200 per meeting plus payroll taxes.

FICA Taxes
Payroll taxes for the Supervisors’ salaries are calculated at 7.65% of gross payroll.
Professional Services-Arbitrage Rebate Calculation
The District will contract with an independent certified public account to annually calculate the District’s Arbitrage Rebate Liability on the Series of Benefit Special Assessment Bonds. The budgeted amount for the fiscal year is based on standard fees charged for this service.
Professional Services-Dissemination Agent
The District is required by the Securities and Exchange Commission to comply with rule 15c2-12(b)-(5), which relates to additional supporting requirements for unrelated bond issues. The budgeted amount for the fiscal year is based on the Series 2016 Continuing Disclosure Certificate found in the indenture.

Professional Services-Engineering
The District's engineer will be providing general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review invoices, etc. Fees are based on estimated activity.

Professional Services-Legal
The District's legal counsel will be providing general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating and maintenance contracts, etc. Fees are based on estimated activity.
Professional Services-Management Consulting

Annual Operating and Debt Service Budget Fiscal Year 2024

Live Oak No. 2
Community Development District	General Fund

Budget Narrative
Fiscal Year 2026

The District receives Management, Accounting, IT, and Administrative services as part of a Management Agreement with Inframark - Infrastructure Management Services. The fees are related to the current contracted fees in the Management Agreement.

EXPENDITURES

ADMINISTRATIVE (CONTINUED)
Professional Services-Special Assessments
The District has contracted with Inframark - Infrastructure Management Services for the collection of assessments, updating the District’s tax roll and levying the annual assessment.

Professional Services-Trustee
The District pays US Bank an annual fee for trustee services on the Series 2016 Special Assessments Refunding Bond. The budgeted amount was provided by the Trustee.

Auditing Services
The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm. The fee is based on existing year’s engagement letter.

Postage & Freight
Mailing of agenda packages, overnight deliveries & correspondence.

Insurance – General Liability
The District has general liability insurance. These insurance policies are held with Public Risk Insurance. Public Risk Insurance specializes in providing insurance coverage to governmental agencies. The amount is based upon historical expenses with a projected 10% increase.

Printing & Binding
Printing & binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc.
Legal Advertising
The District is required to advertise various notices for monthly Board meetings, public hearings, etc. in a newspaper of general circulation.

Miscellaneous Services
Bank Fees charged by SunTrust on the main operating account.

Misc-Assessment Collection Fee
The District reimburses the Tax Collector for necessary administrative costs. Per the Florida Statutes, administrative costs shall include, but not be limited to, those costs associated with personnel, forms, supplies, data processing, computer equipment, postage, and programming. The District also compensates the Tax Collector for the actual cost of collection or 2% on the amount of special assessments collected and remitted, whichever is greater. The budget for collection costs was based on a maximum of 2% of the anticipated assessment collections.

Misc–Web Hosting
The District will create and maintain a website for public access to the District’s activities.
Office Supplies

Annual Operating and Debt Service Budget Fiscal Year 2024

Live Oak No. 2
Community Development District	General Fund

Budget Narrative
Fiscal Year 2026 Miscellaneous office supplies are required to prepare agenda packages.

EXPENDITURES

ADMINISTRATIVE (CONTINUED)

Annual District Filing Fee
The District is required to pay an annual fee to the Department of Economic Opportunity Division of Community Development for $175.

OPERATIONS & MAINTENANCE
Contracts – Envirom’l Monitoring
The District will contract with Florida Native Nursery to remove and maintain the overgrown weeds and brush in 3 flood compensation areas. The ongoing quarterly maintenance for mitigation of the area is $1,450 per quarter.
Contracts - Landscape
The District currently has a contract with Outdoor Professionals, Inc. to maintain the landscaping and irrigation system of the common areas within the District. The contract amount is $3,420.00 per month.

Contracts-Lakes
The District has a contract with American EcoSystems to provide lake spray services to 27 ponds for $1,693/mo.

R&M - Fence
The District anticipates fence repair expenses.

R&M – Lake
The District expects to incur minor lake maintenance expenditures.

R&M-Wetland Monitoring
Monitoring and reporting services for the District’s lakes will be provided by Driggers & King Engineering.

Misc-Contingency
This category represents miscellaneous expenditures incurred during the year that cannot be otherwise classified.

Reserves-Ponds
This represents reserves the district has budgeted and intends to designate as funds to set aside to cover future capital expenditures which may require substantial cash use.

Annual Operating and Debt Service Budget Fiscal Year 2024

LIVE OAK NO. 2

Community Development District	General Fund

Exhibit "A"
Allocation of Fund Balances

AVAILABLE FUNDS	

(2)		

Amount		
Beginning Fund Balance - Fiscal Year 2026
Net Change in Fund Balance - Fiscal Year 2026 Reserves - Fiscal Year 2026 Additions
Total Funds Available (Estimated) - 9/30/2026

ALLOCATION OF AVAILABLE FUNDS

Assigned Fund Balance
Operating Reserve - First Quarter Operating Capital

Reserves - Ponds - Prior Years	281,042 Reserves - Ponds - FY 2025		-
Reserves - Ponds - FY 2025 Expenditures	31,182 Reserves - Ponds - FY 2026		-

Total Allocation of Available Funds

Total Unassigned (undesignated) Cash		$	807,121		
			-		
			-		
			807,121		

64,492	

(1)	

249,860		
			
314,352		
		
$	
492,769		

Notes
Represents approximately 3 months of operating expenditures.
Ties to motion to assign fund balance as of 9/30/24.			

Annual Operating and Debt Service Budget Fiscal Year 2024

Live Oak No. 2
Community Development District

Debt Service Budget
Fiscal Year 2026

LIVE OAK NO. 2

Community Development District	Debt Service Series 2016 Fund

Summary of Revenues, Expenditures and Changes in Fund Balances
Fiscal Year 2026 Budget

ADOPTED	ACTUAL	PROJECTED	TOTAL	ANNUAL
		BUDGET	THRU	July-	PROJECTED	BUDGET	
ACCOUNT DESCRIPTION		FY 2025	6/30/2025	9/30/2025	FY 2025	FY 2026	
REVENUES							
Interest - Investments		$	200	$	13,213	$	(13,013)	$	200	$	200	
Special Assmnts- Tax Collector		600,454	579,202	21,252	600,454	600,454	
Special Assmnts- Discounts		(24,018)	(22,989)	(1,029)	(24,018)	(24,018)	
TOTAL REVENUES		576,636	569,426	7,210	576,636	576,636	

EXPENDITURES							
Administrative							
Misc-Assessmnt Collection Cost		12,009	9,304	2,705	12,009	12,009	
Total Administrative		12,009	9,304	2,705	12,009	12,009	
Debt Service							
Principal Debt Retirement		375,000	-	375,000	375,000	385,000	
Interest Expense Series		182,636	91,317	91,319	182,636	170,915	
Total Debt Service		557,636	91,317	466,319	557,636	555,915	
							
TOTAL EXPENDITURES		569,645	100,621	469,024	569,645	567,923	

Excess (deficiency) of revenues							
Over (under) expenditures		6,991	468,805	(461,814)	6,991	8,713	

Net change in fund balance		
6,991	
468,805	
(461,814)	
6,991	
8,713	
FUND BALANCE, BEGINNING		
594,297	
548,146	
-	
594,297	601,288	
FUND BALANCE, ENDING		$  601,288	$ 1,016,951	$	(461,814)	$ 601,288	$	610,001	

Annual Operating and Debt Service Budget Fiscal Year 2024

Live Oak No. 2
Community Development District

Supporting Budget Schedules
Fiscal Year 2026

Live Oak No. 2 Community Development District

Comparison of Assessment Rates Fiscal Year 2026 vs. Fiscal Year 2025

Product	General Fund 001		Debt Service		Total Assessments per Unit	Total	
	FY 2026	FY 2025	Percent
Change		FY 2026	FY 2025	Percent
Change	FY 2026	FY 2025	Percent
Change	Units	
45'	$328.69	$328.69	0.0%		$632.86	$632.86	0.0%	$961.55	$961.55	0.0%	191	
50'	$328.69	$328.69	0.0%		$717.24	$717.24	0.0%	$1,045.93	$1,045.93	0.0%	328	
60'	$328.69	$328.69	0.0%		$843.81	$843.81	0.0%	$1,172.50	$1,172.50	0.0%	134	
75'	$328.69	$328.69	0.0%		$1,096.95	$1,096.95	0.0%	$1,425.64	$1,425.64	0.0%	74	
80'	$328.69	$328.69	0.0%		$1,181.33	$1,181.33	0.0%	$1,510.02	$1,510.02	0.0%	43	
						770