FY 2022 AMENDED	FY 2022 ACTUAL THROUGH 03/31/2022	FY 2022 AMOUNT REMAINING THROUGH
9/30/2022	FY 2022 ACTUAL & REMAINING TOTAL	
2023 ADOPTED	
VARIANCE FY 2022 & FY 2023	
REVENUE
SPECIAL ASSESSMENTS ON-ROLL (NET) INTEREST
MISCELLANEOUS
FUND BALANCE FORWARD DISCOUNTS	
$	597,442
-
- 70,000
-	
$	592,618
576
240
-	
$	12,397
-
- 70,000	
$	605,015
576
240
70,000
-	
$	452,222
-
-
-
-	
$	(145,220)
-
- (70,000)
-	
TOTAL REVENUE	667,442	593,434	82,397	675,831	452,222	(215,220)	

EXPENDITURES ADMINISTRATIVE							
SUPERVISOR COMPENSATION	12,000	5,600	6,400	12,000	12,000	-	
PAYROLL TAXES	918	428	490	918	918	-	
PAYROLL SERVICES	750	300	450	750	750	-	
DISTRICT MANAGEMENT	31,380	15,690	15,690	31,380	12,000	(19,380)	
ADMINISTRATIVE SERVICES	3,765	1,883	1,882	3,765	10,000	6,235	
ACCOUNTING SERVICES	-	-	-	-	10,000	10,000	
ASSESSMENT ROLL PREPARATION	6,800	6,800	-	6,800	5,500	(1,300)	
GENERAL MASS MAILING	1,000	-	1,000	1,000	1,000	-	
AUDITING	2,700	-	2,700	2,700	2,700	-	
MISCELLANEOUS BANK FEES	250	450	250	700	500	250	
REGULATORY AND PERMIT FEES	175	175	-	175	175	-	
LEGAL ADVERTISEMENTS	2,500	-	2,500	2,500	2,500	-	
ENGINEERING SERVICES	22,000	9,401	12,599	22,000	22,000	-	
LEGAL SERVICES	22,000	4,325	17,675	22,000	22,000	-	
WEBSITE DEVELOPMENT AND HOSTING	2,015	2,015	-	2,015	2,015	-	
EMAIL	720	432	288	720	720	-	
INSURANCE	8,344	7,850	494	8,344	9,596	1,252	
MISCELLANEOUS SERVICES	500	213	287	500	900	400	
TOTAL ADMINISTRATIVE	117,817	55,562	62,705	118,267	115,274	(2,543)	

DEBT SERVICE ADMINISTRATION							
TRUSTEE FEES (ASSESSED IN SEPT)	3,718	3,593	-	3,593	3,718	-	
DISSEMINATION AGENT	1,500	1,500	-	1,500	1,500	-	
ARBITRAGE (ASSESSED IN SEPT)	650		650	650	650	-	
TRUST FUND ACCOUNTING	3,660	1,830	1,830	3,660	-	(3,660)	
TOTAL DEBT SERVICE ADMINISTRATION	9,528	6,923	2,480	9,403	5,868	(3,660)	

STONEBRIER COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022-2023 ADOPTED BUDGET
GENERAL FUND, OPERATIONS & MAINTENANCE (O&M)

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35

	
FY 2022 AMENDED	FY 2022 ACTUAL THROUGH 03/31/2022	FY 2022 AMOUNT REMAINING THROUGH
9/30/2022	FY 2022 ACTUAL & REMAINING TOTAL	
2023 ADOPTED	
VARIANCE FY 2022 & FY 2023	

FIELD OPERATIONS
FIELD OPERATIONS SERVICES (PART-TIME)
PROPERTY TAXES (Streetlights) ENTRY & WALLS MAINTENANCE ELECTRICITY- (IRRIGATION SYSTEM) POND & LAKE MAINTENANCE MITIGATION MAINTENANCE
LANDSCAPE MAINTENANCE (Inclusive of annual rotation) LANDSCAPE REPLENISHMENT
LANDSCAPE IRRIGATION
MISC REPAIRS & PRESSURE WASHING SIGNAGE
HOLIDAY DECORATIONS
CAPITAL PROJECTS CONTINGENCY	

- 19,000
2,500
7,500
21,628
4,400
207,096
10,000
8,600
7,584
250
10,250
140,000
14,471	

- 18,703
- 2,044
10,814
- 103,548
6,962
4,546
1,000
- 10,750
55,511
-	

-
- 2,500
5,456
10,814
4,400
103,548
3,038
4,054
6,584
250
- 84,489
14,471	

- 18,703
2,500
7,500
21,628
4,400
207,096
10,000
8,600
7,584
250
10,750
140,000
14,471	

10,000
19,000
2,500
7,500
21,628
- 213,309
12,000
12,000
7,584
250
10,750
- 14,560	

10,000
-
-
-
- (4,400)
6,213
2,000
3,400
-
- 500
(140,000)
89	
TOTAL FIELD OPERATIONS	453,279	213,879	239,604	453,482	331,081	(132,198)	

RENEWAL & REPLACEMENT RESERVE	
86,818	
-	
86,818	
86,818	
-	
(86,818)	
TOTAL EXPENDITURES	667,442	276,364	391,607	667,970	452,222	(225,220)	
							
OTHER FINANCING SOURCES & USES							
TRANSFER OF FUND BALANCE TO CAPITAL RESERVE FUND	-	-	-	-	(595,940)		
							
EXCESS OF REVENUE OVER (UNDER) EXPENDITURES	-	317,070	(309,210)	7,862	(595,940)	10,000	

FUND BALANCE - BEGINNING - UNAUDITED
USE OF FUND BALANCE FORWARD
INCREASE OF FUND BALANCE (RENEWAL AND REPLACEMENT)	
703,157
(70,000)
86,818	
701,538
-	
-
(70,000)
86,818	
701,538
(70,000)
86,818	
726,218

(595,940)	
23,061

(682,758)	
FUND BALANCE - ENDING - PROJECTED	719,975	1,018,608	(309,210)	726,218	130,278	(589,697)	
COMMITTED
NON SPENDABLE DEPOSITS CAPITAL RESERVES
ASSIGNED
2 MONTHS WORKING CAPITAL UNASSIGNED	
4,467
509,122

85,104
121,282	
4,467
509,122

85,104
419,915	
4,467
509,122

85,104
(907,903)	
4,467
509,122

85,104
127,525	
4,467
-

75,370
50,440	

(509,122)

(9,734)
(70,842)	
FUND BALANCE - ENDING	719,975	1,018,608	(309,210)	726,218	130,278	(589,697)	

STONEBRIER COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022-2023 ADOPTED BUDGET
GENERAL FUND, OPERATIONS & MAINTENANCE (O&M)

36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73

STONEBRIER COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022-2023 ADOPTED BUDGET
CONTRACT SUMMARY

FINANCIAL STATEMENT CATEGORY	VENDOR	ANNUAL AMOUNT	DESCRIPTION, SCOPE OF WORK	
ADMININSTRATIVE EXPENDITURES:				
SUPERVISORS COMPENSATION	SUPERVISORS	12,000	Florida Statute, Chapter 190.006(8) sets a $200 per Supervisor for each meeting of the Board of Supervisors not to exceed $4,800 for each fiscal year per Supervisor. The
District anticipates 12 meetings and 10 workshops	
PAYROLL TAXES	PAYCHEX	918	7.65.% of compensation	
PAYROLL SERVICES	PAYCHEX	750	Fee per payroll processed - $56.00 monthly plus year end fees of $56.00	

DISTRICT MANAGEMENT	
DPFG	
12,000	Florida Statute, Chapter 190.007(1) states that the Board shall employ and fix the compesation of a District Manager. The District Manager shall have charge and supervision of the works of the District. The District entered into an agreement with DPFG-MC a wholly owned subsidiary of Vesta Property Services, Inc., for district
management services on	, which remains in effect until such a time as either party terminates the agreement. The following services are provided under the District	
ADMINISTRATIVE SERVICES	DPFG	10,000	DPFG provides aministrative services to the District under the management services agreement. These services include preparation of meeting agenda and minutes, coordinating postings on the website, records retention, responding to resident requests and complying with all regulatory requirements involving District activities.	
ACCOUNTING SERVICES	DPFG	10,000	DPFG provides budget preparation and financial reporting, cash management, revenue reporting and accounts payable functions.	
ASSESSMENT ROLL PREPARATION	DPFG	5,500	DPFG provides assessment roll services, which include preparing, maintaining and transmitting the annual roll with the annual special assessment amounts for the operating, maintenance and capital assessments.	
GENERAL MASS MAILING	MISC.	1,000	Postage for mailings, including the annual letters to residents related to the annual assessments and public hearings	
AUDITING	Dibartolomeo	2,700	The District is required to have an independent examination of its financial accounting, records and accounting procedures each year. This audit is conducted pursuant to
Florida State Law and the Rules of the Auditor General. An Independent Auditor is selected through a RFP process.	
MISCELLANEOUS (BANK FEES)	VARIOUS	500	
The District pays fees to various fiancial institutions for its bank accounts.	
REGULATORY AND PERMIT FEES	FL DEPART. OF ECONOMIC OPPORTUNITY	175	
The District pays an annual registration fee to the State of Florida to fund the administration of the Uniform Special District Accountability Act.	
LEGAL ADVERTISEMENTS	Times Publishing Company	2,500	Per Florida Statutes, the District advertises for all meetings, workshops, public hearings and public bids. These advertisements are to be in a newspaper of general
circulation in the area in which the CDD is located.	
ENGINEERING SERVICES	CARDNO	22,000	The District has engaged Cardno, a District Engineering firm to provide engineering, consulting and construction services to the District while crafting solutions with
sustainability for the long-term interests of the community while recognizing the needs of government, the environment and maintenance of the District's facilities.	
LEGAL SERVICES	HOPPING GREEN & SAMS	22,000	Hopping Green & Sams provides on-going general counsel and legal representation. These lawyers are confronted with issues relating to public finance, public bidding,
rulemaking, open meetings, public records, real property dedications, conveyances and contracts.	
WEBSITE MONTHLY MAINTENANCE	CAMPUS SUITE	2,015	The District contracts with Campus Suite to produce and maintain the District's website which is required by the State of Florida. Includes IT support, security tools,
email, quarterly technology alignment and vCIO reviews, roadmap, password manager, security awareness training, 24/7 security operations center etc,	
EMAIL	Google Mail	720	Google website hosting	
INSURANCE	EGIS INSURANCE	9,596	
The District obtains general liability, property, hired non-owned auto, employment practices liability, and public officials insurance.	
MISCELLANEOUS SERVICES	MISC.	900	Meeting Room Rental ($75.00/meeting)	
TOTAL ADMINISTRATIVE		115,274		
DEBT SERVICE ADMINISTRATION				
TRUSTEE FEES	US BANK	3,718	Confirmed with Trustee	
DISSEMINATION AGENT	DIGITAL ASSURANCE CERTIFICATION	1,500	Agreement 7B - May/June Distribution	
ARBITRAGE	GNP	650	Agreement 22, $650 per bond per period only Series 2016. Time period is from August to August	
TRUST FUND ACCOUNTING	DPFG	-	Included in Accounting Services	
TOTAL DEBT SERVICE ADMINISTRATION		5,868		

FIELD OPERATIONS EXPENDITURES:				
FIELD OPERATIONS SERVICES	DPFG	10,000	For part-time Field Operations Services, monthly field operations report, and support with proposals and vendor management of landscaping and aquatics	
PROPERTY TAXES (Streetlights)	HILLSBOROUGH COUNTY - TAX COLLECTOR	19,000	
The District pays a fee to the Hillsborough County Tax Collector for the collection and disbursement of its annual assessment.	
ENTRY & WALLS MAINTENANCE		2,500	
The District will incur expenses for entry & walls maintenance.	
ELECTRICITY-IRRIGATION SYS.	TAMPA ELECTRIC	7,500	Estimated on current usage of approximately $650 per month, credits were recevied in prior years	
POND & LAKE MAINTENANCE	STEADFAST ENVIRONMENTAL, LLC	21,628	The District has a waterway management contract with Steadfast Environmental, LLC - Includes the maintenance of the conservation area.	
MITIGATIONS MAINTENANCE	ECOLOGICAL CONSULTANTS	-	The Corp of Engineers and EPC have released the site as successful. SWFWMD has suspended further monitoring. Maintenance will be continued in order to keep the
site in compliance	
LANDSCAPE MAINTENANCE	YELLOWSTONE	213,309	The District has a contract with Yellowstone Landscape, Inc. to provide landscape maintenance services, inclusive of annuals throughout the community. Contract expires
on 12/30/2022 but can auto renew under terms annually.	
LANDSCAPE REPLENISHMENT	YELLOWSTONE	12,000	The District will incur expenses for landscape replenishment.	
LANDSCAPE IRRIGATION	BRIGHTVIEW	12,000	The District will incur expenses for irrigation repairs and replacements.	
MISC. REPAIRS & PRESSURE WASHING	N/A	7,584	Pressure wash and any other miscellaneous.	
SIGNAGE		250	As needed for signs and painting of poles.	
HOLIDAY LIGHTING		10,750	The District will incur expenses for holiday light displays. All lights to be installed after Thanksgiving and prior to January 5 of each year.	
CAPITAL PROJECTS		-	Moved to Capital Reserve Fund	
CONTINGENCY	N/A	14,560	Estimated, as needed	
TOTAL FIELD OPERATIONS		331,081		
				
RENEWAL & REPLACEMENT RESERVE		-	MOVED TO CAPITAL RESERVE FUND STARTING FY23	

STONEBRIER COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022-2023 ADOPTED BUDGET
CAPITAL RESERVE FUND (CRF)

	FY 2023
ADOPTED	

REVENUES		
SPECIAL ASSESSMENTS - ON ROLL (NET)	$	177,045	
INTEREST¹	-	
TOTAL REVENUES	177,045	

EXPENDITURES		
RENEWAL AND REPLACEMENT (RESERVE STUDY)	66,414	
CAPITAL IMPROVEMENT PLAN (ANNUAL ENHANCEMENTS)	79,600	
TOTAL EXPENDITURES	146,014	
		
EXCESS OF REVENUES OVER (UNDER) EXPENDITURES	31,031	

OTHER FINANCING SOURCES & USES
TRANSFER IN FROM GENERAL FUND	

595,940	
TOTAL OTHER FINANCING SOURCES & USES	595,940	
		
FUND BALANCE - BEGINNING - UNAUDITED	-	

NET CHANGE IN FUND BALANCE	
626,971	
FUND BALANCE - ENDING - PROJECTED	626,971	
COMMITTED		
FUTURE CAPITAL IMPROVEMENTS	601,971	
ASSIGNED		
WORKING CAPITAL	25,000	
FUND BALANCE - ENDING	626,971	

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Reserve Study projects Fund Balance at the end of 2023 to equal $612,298
GOALS:
1.) Budget Expenses according to the Reserve Study ($66,414)
2.) Have an additional $90,000 in additional expense funds available
3.) Build Reserves according to the Reserve Study (31,031)

CAPITAL RESERVE FUND (CRF)

FIELD BUDGET

ADMIN BUDGET

ALLOCATION OF CAPITAL RESERVE ASSESSMENT

ERU	TOTAL % TOTAL	TOTAL	CRF PER FACTOR ERU's	ERU's		CRF		LOT

STONEBRIER COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022-2023 ADOPTED BUDGET ASSESSMENT ALLOCATION

NET O&M ADMIN BUDGET	$121,141.60	NET O&M FIELD BUDGET	$331,080.88	NET CAPITAL RESERVE FUND	$177,045.00	
COUNTY COLLECTION COSTS	$2,577.48	COUNTY COLLECTION COSTS	$7,044.27	COUNTY COLLECTION COSTS	$3,766.91	
EARLY PAYMENT DISCOUNT		$5,154.96 	EARLY PAYMENT DISCOUNT 		$14,088.55 	EARLY PAYMENT DISCOUNT		$7,533.83 	
GROSS O&M ADMIN ASSESSMENT		$128,874.04 	GROSS O&M FIELD ASSESSMENT  	$352,213.70 	GROSS CRF ASSESSMENT	 $188,345.74 	

UNIT TYPE	UNITS ASSESSED	
	
O&M	SERIES 2016 DEBT
SERVICE (1)	

SINGLE FAMILY 50'	
278	
278	
SINGLE FAMILY 60'	37	37	
SINGLE FAMILY 65'	129	129	
SINGLE FAMILY 75'	62	62	

ALLOCATION OF ADMIN O&M ASSESSMENT	
ERU	TOTAL % TOTAL TOTAL ADMIN ADMIN FACTOR		ERU's	ERU's	O&M	O&M PER
LOT	

1.00  278.0	54.94%	$70,804.32	$254.69
1.00	37.0	7.31%	$9,423.60	$254.69
1.00  129.0	25.49%	$32,855.24	$254.69
1.00	62.0	12.25%	$15,790.89	$254.69	

ALLOCATION OF FIELD O&M ASSESSMENT	
ERU	TOTAL % TOTAL		TOTAL	FIELD FACTOR  ERU's	ERU's	FIELD O&M	 O&M
PER LOT	

1.00  278.0	47.68%	$167,922.16  $604.04
1.20	44.4	7.61%	$26,819.22  $724.84
1.30  167.7	28.76%	$101,296.93  $785.25
1.50	93.0	15.95%	$56,175.40  $906.05	

	

1.00  278.0	47.68%  $89,796.12	$323.01
1.20	44.4	7.61%  $14,341.54	$387.61
1.30  167.7	28.76%  $54,168.38	$419.91
1.50	93.0	15.95%  $30,039.71	$484.51	

	506	506		 506.0	100.00%	$128,874.04 	 583.1	100.00%	$352,213.70 	 583.1	100.00%  $188,345.74 

UNIT SIZE & PHASE	PER UNIT ANNUAL ASSESSMENT	
	
O&M & CRF PER LOT	SERIES 2016 DEBT
SERVICE(2)	TOTAL PER UNIT (3)	

SINGLE FAMILY 50'	
$1,181.74	
$812.67	
$1,994.41	
SINGLE FAMILY 60'	$1,367.14	$975.21	$2,342.35	
SINGLE FAMILY 65'	$1,459.85	$1,056.48	$2,516.32	
SINGLE FAMILY 75'	$1,645.26	$1,219.01	$2,864.27	

FY 2022 PER LOT	VARIANCE
FY22 VS FY23 PER LOT	% VARIANCE	

$1,933.78	
$60.63	
3.0%	
$2,273.47	$68.88	2.9%	
$2,443.32	$73.00	2.9%	
$2,783.02	$81.25	2.8%	

(1) Reflects the total number of lots with Series 2016A-1 debt outstanding.
(2)Annual debt service assessments per unit adopted in connection with the Series 2016A-1 bond issuances. Annual Debt Service Assessments includes principal, interest, County collection costs and early payment discounts.
(3)Annual assessments that will appear on the November, 2022 County property tax bill. Amount shown includes all applicable county collection costs (2%) and early payment discounts (up to 4% if paid early).

STONEBRIER COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022-2023 ADOPTED BUDGET
DEBT SERVICE REQUIREMENT, SERIES 2016

	FY 2023 BUDGET	
REVENUE
SPECIAL ASSESSMENTS - NET MADS	
$	
445,438	
TOTAL REVENUE	$	445,438	

EXPENDITURES			
INTEREST EXPENSE			
May 1, 2023	$	90,525	
November 1, 2023	$	87,213	
PRINCIPAL RETIREMENT			
May 1, 2023	$	265,000	
TOTAL EXPENDITURES	$	442,738	
		
EXCESS OF REVENUE OVER (UNDER) EXPENDITURES	$	2,700	
		
FUND BALANCE - BEGINNING - UNAUDITED	$	712,817	
NET CHANGE IN FUND BALANCE
FUND BALANCE - ENDING - PROJECTED
RESTRICTED
DEBT SERVICE RESERVE FUND UNASSIGNED	

$	

712,817	
FUND BALANCE - ENDING	$	715,517	

STONEBRIER COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022-2023 ADOPTED BUDGET
$6,530,000 SPECIAL ASSESSMENT REFUNDING BONDS, SERIES 2016

Period Ending	Principal	Coupon	Interest	Debt Service	Annual Debt		Amount	
						Service	Outstanding	
8/30/2016							$	6,530,000	
5/1/2017	200,000	2.00%	141,612.60	341,612.60				6,330,000	
11/1/2017	10,000	2.00%	103,768.75	113,768.75		455,381.35		6,320,000	
5/1/2018	240,000	2.00%	103,668.75	343,668.75				6,080,000	
11/1/2018		2.00%	101,268.75	101,268.75		444,937.50		6,080,000	
5/1/2019	245,000	2.00%	101,268.75	346,268.75				5,835,000	
11/1/2019		2.00%	98,818.75	98,818.75		445,087.50		5,835,000	
5/1/2020	250,000	2.00%	98,818.75	348,818.75				5,585,000	
11/1/2020		2.00%	96,318.75	96,318.75		445,137.50		5,585,000	
5/1/2021	255,000	2.25%	96,318.75	351,318.75				5,330,000	
11/1/2021		2.25%	93,450.00	93,450.00		444,768.75		5,330,000	
5/1/2022	260,000	2.25%	93,450.00	353,450.00				5,070,000	
11/1/2022		2.50%	90,525.00	90,525.00		443,975.00		5,070,000	
5/1/2023	265,000	2.50%	90,525.00	355,525.00				4,805,000	
11/1/2023		2.50%	87,212.50	87,212.50		442,737.50		4,805,000	
5/1/2024	270,000	2.50%	87,212.50	357,212.50				4,535,000	
11/1/2024		2.50%	83,837.50	83,837.50		441,050.00		4,535,000	
5/1/2025	280,000	3.00%	83,837.50	363,837.50				4,255,000	
11/1/2025		3.00%	79,637.50	79,637.50		443,475.00		4,255,000	
5/1/2026	290,000	3.00%	79,637.50	369,637.50				3,965,000	
11/1/2026		3.00%	75,287.50	75,287.50		444,925.00		3,965,000	
5/1/2027	300,000	3.50%	75,287.50	375,287.50				3,665,000	
11/1/2027		3.50%	70,037.50	70,037.50		445,325.00		3,665,000	
5/1/2028	310,000	3.50%	70,037.50	380,037.50				3,355,000	
11/1/2028		3.50%	64,612.50	64,612.50		444,650.00		3,355,000	
5/1/2029	320,000	3.50%	64,612.50	384,612.50				3,035,000	
11/1/2029		3.50%	59,012.50	59,012.50		443,625.00		3,035,000	
5/1/2030	330,000	3.50%	59,012.50	389,012.50				2,705,000	
11/1/2030		3.50%	53,237.50	53,237.50		442,250.00		2,705,000	
5/1/2031	345,000	3.50%	53,237.50	398,237.50				2,360,000	
11/1/2031		3.50%	47,200.00	47,200.00		445,437.50		2,360,000	
5/1/2032	355,000	4.00%	47,200.00	402,200.00				2,005,000	
11/1/2032		4.00%	40,100.00	40,100.00		442,300.00		2,005,000	
5/1/2033	370,000	4.00%	40,100.00	410,100.00				1,635,000	
11/1/2033		4.00%	32,700.00	32,700.00		442,800.00		1,635,000	
5/1/2034	385,000	4.00%	32,700.00	417,700.00				1,250,000	
11/1/2034		4.00%	25,000.00	25,000.00		442,700.00		1,250,000	
5/1/2035	400,000	4.00%	25,000.00	425,000.00				850,000	
11/1/2035		4.00%	17,000.00	17,000.00		442,000.00		850,000	
5/1/2036	415,000	4.00%	17,000.00	432,000.00				435,000	
11/1/2036		4.00%	8,700.00	8,700.00		440,700.00		435,000	
5/1/2037	435,000	4.00%	8,700.00	443,700.00				-	
11/1/2037		4.00%	-	-		443,700.00		-	
Totals	$6,530,000		2,796,962.60	9,326,962.60		9,326,962.60			
		
Maximum Annual Debt Service (MADS) =	
$	
445,437.50