Palm Beach Plantation Community Development District

Transcription

1 Palm Beach Plantation Community Development District Final Budget For Fiscal Year 2013/2014

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

3 FINAL BUDGET PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2013/2014 FISCAL YEAR 2013/2014 REVENUES BUDGET O & M Assessments 96,822 Debt Assessments 544,271 Other Revenues 0 Interest Income 120 TOTAL REVENUES $ 641,213 Discounts For Early Payments (25,644) TOTAL NET REVENUES $ 615,569 EXPENDITURES Supervisor Fees 6,000 Payroll Taxes 480 Maintenance/Contingency 6,000 Engineering/Inspections 5,000 Management 30,792 Secretarial 4,200 Legal 8,000 Assessment Roll 3,000 Audit Fees 4,100 Arbitrage Calculation Report Fee 650 Insurance 6,000 Legal Advertisements 1,250 Bank Service Charges 0 Miscellaneous 1,000 Postage 400 Office Supplies 600 Dues & Subscriptions 175 Trustee Fee 3,300 Continuing Disclosure Fee 2,500 County Appraiser & Tax Collector Fee 12,822 TOTAL EXPENDITURES $ 96,269 REVENUES LESS EXPENDITURES $ 519,300 Bond Payments (522,500) EXCESS/ (SHORTFALL) $ (3,200) 6/21/2013 8:58 AM I

4 DETAILED FINAL BUDGET PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2013/2014 FISCAL YEAR FISCAL YEAR FISCAL YEAR 2011/ / /2014 REVENUES ACTUAL BUDGET BUDGET COMMENTS O & M Assessments 89,286 97,034 96,822 Expenditures Less Interest & Carryover Balance/.96 Debt Assessments 555, , ,271 Bond Payments/.96 Other Revenues Interest Income Projected At $10 Per Month TOTAL REVENUES $ 644,718 $ 641,621 $ 641,213 Discounts For Early Payments (23,499) (25,660) (25,644) Four Percent Of Total Tax Roll TOTAL NET REVENUES $ 621,219 $ 615,961 $ 615,569 EXPENDITURES Supervisor Fees 3,600 6,000 6,000 No Change From 2012/2013 Budget Payroll Taxes Projected At 8 Percent Of Supervisor Fees Maintenance/Contingency 2,373 6,000 6,000 No Change From 2012/2013 Budget Engineering/Inspections 6,068 2,500 5,000 $2,500 Increase From 2012/2013 Budget Management 29,412 30,288 30,792 CPI Adjustment Secretarial 4,200 4,200 4,200 No Change From 2012/2013 Budget Legal 7,426 8,000 8,000 No Change From 2012/2013 Budget Assessment Roll 6,000 6,000 3,000 $3,000 Decrease From 2012/2013 Budget Audit Fees 4,100 4,100 4,100 No Change From 2012/2013 Budget Arbitrage Calculation Report Fee 650 1, $925 Decrease From 2012/2013 Budget Insurance 5,750 6,000 6, /2013 Expenditure Was $5,750 Legal Advertisements 1,280 1,250 1,250 No Change From 2012/2013 Budget Bank Service Charges $75 Decrease From 2012/2013 Budget Miscellaneous 1,787 1,000 1,000 No Change From 2012/2013 Budget Postage No Change From 2012/2013 Budget Office Supplies No Change From 2012/2013 Budget Dues & Subscriptions No Change From 2012/2013 Budget Trustee Fee 3,233 3,300 3,300 No Change From 2012/2013 Budget Continuing Disclosure Fee 2,500 2,500 2,500 No Change From 2012/2013 Budget County Appraiser & Tax Collector Fee 2,384 12,830 12,822 Two Percent Of Total Tax Roll TOTAL EXPENDITURES $ 82,017 $ 97,273 $ 96,269 REVENUES LESS EXPENDITURES $ 539,202 $ 518,688 $ 519,300 Bond Payments (533,563) (522,688) (522,500) 2014 P & I Payments Less Earned Interest EXCESS/ (SHORTFALL) $ 5,639 $ (4,000) $ (3,200) Note: Fund Balance As Of : $35,021 6/21/2013 8:58 AM II

5 DETAILED FINAL DEBT SERVICE FUND BUDGET PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2013/2014 FISCAL YEAR FISCAL YEAR FISCAL YEAR 2011/ / /2014 REVENUES ACTUAL BUDGET BUDGET COMMENTS Interest Income 71 1, Interest For FY 2013/2014 NAV Tax Collection 533, , , P & I Payments Less Earned Interest Total Revenues $ 533,634 $ 523,688 $ 523,000 EXPENDITURES Principal Payments 135, , ,000 Principal Payment Due In 2014 Interest Payments 404, , ,500 Interest Payments Due In 2014 Total Expenditures $ 539,219 $ 532,188 $ 532,500 Excess/ (Shortfall) $ (5,585) $ (8,500) $ (9,500) Carryover From Prior Year $ - $ 8,500 $ 9,500 Carryover From Prior Year Net Excess/ (Shortfall) $ (5,585) $ - $ - Series 2004 Bond Information Original Par Amount = $7,250,000 Annual Principal Payments Due = May 1st Interest Rate = 6.250% Annual Interest Payments Due = May 1st & November 1st Issue Date = May 2004 Maturity Date = May /21/2013 8:58 AM III

6 Palm Beach Plantation Community Development District Assessment Comparison Fiscal Year Fiscal Year Original Fiscal Year Fiscal Year Fiscal Year 2012/2013 Fiscal Year 2013/2014 Projected 2010/ / /2013 Assessment 2013/2014 Projected Assessment Assessment* Assessment* Assessment* Assessment* With 4% Discount** Projected Assessment* With 4% Discount** O & M For Lot Size 45 $ $ $ $ $ $ $ Debt For Lot Size 45 $ $ $ $ $ $ $ Total $ 1, $ $ 1, $ 1, $ $ 1, $ O & M For Lot Size 45 $ $ $ $ $ $ $ Debt For Lot Size $ $ $ $ $ $ $ Total $ 1, $ 1, $ 1, $ 1, $ 1, $ 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: 45 Foot Lots /70 Foot Lots 274 Total Units Foot Lots Information Total Units 326 Prepayments 1 Billed For Debt 325 6/21/2013 8:58 AM IV