The Board adopts its operating budget annually in accordance with the process set forth in Florida Statutes (“F.S.“) Chapter 190.008. The operative words here are “approve” and “adopt.” The Board must first approve a proposed budget, and then provide it to Osceola County at least sixty (60) days prior to the budget hearing, at which time the Board will adopt its annual budget, and impose and levy the resulting non-ad valorem assessments.
The District operates on the same fiscal year (“FY”) basis as other governmental entities. The fiscal year begins October 1 and ends September 30 of the following year.
The budget for the Harmony CDD (“HCDD”) consists of the following budget elements:
- general fund budget (administration and general operations & maintenance of the District and its common areas)
- debt service budget (repayment of bonds issued for public infrastructure for the common areas, including the amortization schedule)
- assessment schedule (list of O&M and debt assessments for each product type for the fiscal year, levied pursuant to “F.S.” Chapters 120, 170, 190, and 197)