Caribe Palm Community Development District

Transcription

1 Caribe Palm Community Development District Proposed Budget For Fiscal Year 2014/2015 October 1, 2014 September 30, 2015

2 CONTENTS I II III IV PROPOSED BUDGET DETAILED PROPOSED BUDGET DETAILED PROPOSED DEBT SERVICE FUND BUDGET ASSESSMENT COMPARISON

3 PROPOSED BUDGET CARIBE PALM COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2014/2015 October 1, 2014 September 30, 2015 FISCAL YEAR 2014/2015 REVENUES BUDGET Administrative Assessments 67,753 Maintenance/Security Assessments 116,809 Debt Assessments 177,917 Other Revenues 0 Interest Income 240 TOTAL REVENUES $ 362,719 EXPENDITURES Maintenance/Security Expenditures Engineering/Inspections/Maintenance Contingency 6,000 Security (Lease), Monitoring & Mte Services (2 Sites) 8,400 FP&L Security 4,200 Secuity Services 88,800 Miscellaneous Field Expenses 2,400 Total Maintenance/Security Expenditures $ 109,800 Administrative Expenditures Supervisor Fees 5,000 Payroll Taxes (Employer) 385 Management 27,168 Secretarial And Field Operations 4,200 Legal 2,500 Assessment Roll 7,500 Audit Fees 4,600 Insurance 5,750 Legal Advertisements 750 Miscellaneous 1,250 Postage 400 Office Supplies 500 Dues & Subscriptions 175 Trustee Fees 3,250 Continuing Disclosure Fee 500 Total Administrative Assessments $ 63,928 TOTAL EXPENDITURES $ 173,728 REVENUES LESS EXPENDITURES $ 188,991 Bond Payments (167,242) BALANCE $ 21,749 County Appraiser & Tax Collector Fee (7,250) Discounts For Early Payments (14,499) EXCESS/ (SHORTFALL) $ Carryover From Prior Year 0 NET EXCESS/ (SHORTFALL) $ 5/6/ :51 AM I

4 DETAILED PROPOSED BUDGET CARIBE PALM COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2014/2015 October 1, 2014 September 30, 2015 FISCAL YEAR FISCAL YEAR FISCAL YEAR 2012/ / /2015 REVENUES ACTUAL BUDGET BUDGET COMMENTS Administrative Assessments 83,163 79,991 67,753 Expenditures Less Interest/.94 Maintenance/Security Assessments ,809 Expenditures/.94 Debt Assessments 179, , ,917 Bond Payments/.94 Other Revenues Interest Income Interest Estimated At $20 Per Month. TOTAL REVENUES $ 262,625 $ 261,261 $ 362,719 EXPENDITURES Maintenance/Security Expenditures Engineering/Inspections/Maintenance Contingency 1,550 6,000 6,000 No Change From 2013/2014 Budget Security (Lease), Monitoring & Mte Services (2 Sites) 0 8,400 8,400 No Change From 2013/2014 Budget FP&L Security 0 4,200 4,200 No Change From 2013/2014 Budget Secuity Services ,800 $300 Per Unit Miscellaneous Field Expenses 0 2,400 2,400 No Change From 2013/2014 Budget Total Maintenance/Security Expenditures $ 1,550 $ 21,000 $ 109,800 Administrative Expenditures Supervisor Fees 3,200 5,000 5,000 No Change From 2013/2014 Budget Payroll Taxes (Employer) Supervisor Fees *7.65% Management 26,328 26,772 27,168 CPI Adjustment Secretarial And Field Operations 4,200 4,200 4,200 No Change From 2013/2014 Budget Legal 0 2,500 2,500 No Change From 2013/2014 Budget Assessment Roll 7,500 7,500 7,500 As Per Contract Audit Fees 4,250 4,500 4,600 $100 Increase From 2013/2014 Budget Insurance 5,000 6,500 5, /2014 Expenditure Was $5,150 Legal Advertisements 263 1, $250 Decrease From 2013/2014 Budget Miscellaneous 863 1,250 1,250 No Change From 2013/2014 Budget Postage No Change From 2013/2014 Budget Office Supplies No Change From 2013/2014 Budget Dues & Subscriptions No Change From 2013/2014 Budget Trustee Fees 3,000 3,250 3,250 No Change From 2013/2014 Budget Continuing Disclosure Fee No Change From 2013/2014 Budget Total Administrative Assessments $ 55,931 $ 64,432 $ 63,928 TOTAL EXPENDITURES $ 57,481 $ 85,432 $ 173,728 REVENUES LESS EXPENDITURES $ 205,144 $ 175,829 $ 188,991 Bond Payments (168,582) (170,168) (167,242) 2015 P & I Payments Less Earned Interest BALANCE $ 36,562 $ 5,661 $ 21,749 County Appraiser & Tax Collector Fee (2,615) (5,220) (7,250) Two Percent Of Total Tax Roll Discounts For Early Payments (9,089) (10,441) (14,499) Four Percent Of Total Tax Roll EXCESS/ (SHORTFALL) $ 24,858 $ (10,000) $ Carryover From Prior Year 0 10,000 0 Carryover From Prior Year NET EXCESS/ (SHORTFALL) $ 24,858 $ $ 5/6/ :51 AM II

5 DETAILED PROPOSED DEBT SERVICE FUND BUDGET CARIBE PALM COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2014/2015 October 1, 2014 September 30, 2015 FISCAL YEAR FISCAL YEAR FISCAL YEAR 2012/ / /2015 REVENUES ACTUAL BUDGET BUDGET COMMENTS Interest Income Projected Interest For FY 2014/2015 NAV Tax Collection 168, , , P & I Payments Less Earned Interest Total Revenues $ 168,599 $ 170,218 $ 167,292 EXPENDITURES Principal Payments 45,000 50,000 50,000 Principal Payment Due In 2015 Interest Payments 124, , ,292 Interest Payments Due In 2015 TOTAL EXPENDITURES $ 169,313 $ 170,218 $ 167,292 EXCESS/ (SHORTFALL) $ (714) $ $ Series 2005 Bond Information Original Par Amount = $2,390,000 Annual Principal Payments Due = May 1st Interest Rate = 5.85% Annual Interest Payments Due = May 1st & November 1st Issue Date = January 2005 Maturity Date = May /6/ :51 AM III

6 Caribe Palm Community Development District Assessment Comparison Original Original Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Projected Projected 2011/ / / / / /2015 Assessment Assessment Assessment Assessment Assessment Assessment Projected Assessment Projected Assessment Before Discount* After Discount** Before Discount* Before Discount* Before Discount* After Discount** Before Discount* After Discount** Administrative For Twenty Three Foot Lots $ $ $ $ $ $ $ $ Maintenance/Security For Twenty Three Foot Lots $ $ $ $ $ $ $ $ Debt For Twenty Three Foot Lots $ $ $ $ $ $ $ $ Total For Twenty Three Foot Lots $ $ $ $ $ $ $ 1, $ 1, Administrative For Fifty Foot Lots $ $ $ $ $ $ $ $ Maintenance/Security For Fifty Foot Lots $ $ $ $ $ $ $ $ Debt For Fifty Foot Lots $ $ $ $ $ $ $ $ Total For Fifty Foot Lots $ $ $ $ $ $ $ 1, $ 1, * Assessments Include the Following : ** Assessments Include the Following : 4% Discount for Early Payments 1% County Tax Collector Fee 1% County Tax Collector Fee 1% County Property Appraiser Fee 1% County Property Appraiser Fee Community Information: Twenty Three Foot Lots 156 Fifty Foot Lots 140 Total Units 296 5/6/ :51 AM IV