Sail Harbour Community Development District Proposed Budget For Fiscal Year 2015/2016 October 1, 2015 - September 30, 2016
CONTENTS I II III IV PROPOSED BUDGET DETAILED PROPOSED BUDGET DETAILED PROPOSED DEBT SERVICE FUND BUDGET ASSESSMENT COMPARISON
PROPOSED BUDGET SAIL HARBOUR COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2015/2016 OCTOBER 1, 2015 - SEPTEMBER 30, 2016 FISCAL YEAR 2015/2016 REVENUES BUDGET O & M Assessments 79,707 Debt Assessments 509,139 Other Revenues 0 Interest Income 300 TOTAL REVENUES $ 589,146 EXPENDITURES Supervisor Fees 6,000 Payroll Taxes (Employer) 500 Engineering/Inspections 5,000 Pipe Maintenance/Replacement 20,000 Management 24,000 Legal 5,500 Assessment Roll 5,000 Audit Fees 3,600 Arbitrage Rebate Fee 500 Travel 500 Insurance 6,100 Legal Advertisements 1,300 Miscellaneous 2,300 Postage 350 Office Supplies 600 Dues & Subscriptions 175 Trustee Fee 3,800 Continuing Disclosure Fee 1,000 Website Management 1,500 TOTAL EXPENDITURES $ 87,725 REVENUES LESS EXPENDITURES $ 501,421 Bond Payments (478,591) BALANCE $ 22,830 County Appraiser & Tax Collector Fee (11,776) Discounts For Early Payments (23,554) EXCESS/ (SHORTFALL) $ (12,500) Carryover Funds From Prior Year 12,500 NET EXCESS/ (SHORTFALL) $ - 4/14/2015 1:19 PM I
DETAILED PROPOSED BUDGET SAIL HARBOUR COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2015/2016 OCTOBER 1, 2015 - SEPTEMBER 30, 2016 FISCAL YEAR FISCAL YEAR FISCAL YEAR 2013/2014 2014/2015 2015/2016 REVENUES ACTUAL BUDGET BUDGET COMMENTS O & M Assessments 64,768 62,756 79,707 Expenditures Less Interest/.94 Debt Assessments 573,632 574,906 509,139 Bond Payments/.94 Other Revenues 0 0 0 Interest Income 247 300 300 Interest Projected At $25 Per Month TOTAL REVENUES $ 638,647 $ 637,962 $ 589,146 EXPENDITURES Supervisor Fees 5,000 6,000 6,000 No Change From 2014/2015 Budget Payroll Taxes (Employer) 383 500 500 8% Of Supervisor Fees Engineering/Inspections 950 5,000 5,000 No Change From 2014/2015 Budget Pipe Maintenance/Replacement 0 20,000 20,000 No Change From 2014/2015 Budget Management 24,000 24,000 24,000 No Change From 2014/2015 Budget Legal 4,872 8,000 5,500 $2,500 Decrease From 2014/2015 Budget Assessment Roll 5,000 5,000 5,000 No Change From 2014/2015 Budget Audit Fees 4,800 4,900 3,600 Accepted Amount For 2014/2015 Audit Arbitrage Rebate Fee 500 500 500 No Change From 2014/2015 Budget Travel 22 500 500 No Change From 2014/2015 Budget Insurance 5,408 5,800 6,100 Insurance Company Estimate Legal Advertisements 332 1,500 1,300 $200 Decrease From 2014/2015 Budget Miscellaneous 860 2,500 2,300 $200 Decrease From 2014/2015 Budget Postage 195 350 350 No Change From 2014/2015 Budget Office Supplies 393 600 600 No Change From 2014/2015 Budget Dues & Subscriptions 175 175 175 No Change From 2014/2015 Budget Trustee Fee 3,233 3,800 3,800 No Change From 2014/2015 Budget Continuing Disclosure Fee 1,000 1,000 1,000 No Change From 2014/2015 Budget Website Management 0 0 1,500 Website Management TOTAL EXPENDITURES $ 57,123 $ 90,125 $ 87,725 REVENUES LESS EXPENDITURES $ 581,524 $ 547,837 $ 501,421 Bond Payments (541,213) (540,413) (478,591) 2016 P & I Payments Less Earned Interest BALANCE $ 40,311 $ 7,424 $ 22,830 County Appraiser & Tax Collector Fee (909) (12,753) (11,776) Two Percent Of Total Assessment Roll Discounts For Early Payments (21,928) (25,506) (23,554) Four Percent Of Total Assessment Roll EXCESS/ (SHORTFALL) $ 17,474 $ (30,835) $ (12,500) Carryover Funds From Prior Year 0 30,835 12,500 Carryover Funds From Prior Year NET EXCESS/ (SHORTFALL) $ 17,474 $ - $ - 4/14/2015 1:19 PM II
DETAILED PROPOSED DEBT SERVICE FUND BUDGET SAIL HARBOUR COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2015/2016 OCTOBER 1, 2015 - SEPTEMBER 30, 2016 FISCAL YEAR FISCAL YEAR FISCAL YEAR 2013/2014 2014/2015 2015/2016 REVENUES ACTUAL BUDGET BUDGET COMMENTS Interest Income 32 100 50 Projected Interest For 2015/2016 NAV Tax Collection 541,213 540,413 478,591 2016 P & I Payments Less Earned Interest Total Revenues $ 541,245 $ 540,513 $ 478,641 EXPENDITURES Principal Payments 155,000 165,000 235,000 Principal Payment Due In 2016 Interest Payments 388,575 375,513 243,641 Interest Payments Due In 2016 Total Expenditures $ 543,575 $ 540,513 $ 478,641 Excess/ (Shortfall) $ (2,330) $ - $ - Series 2015 Bond Refunding Information Original Par Amount = $6,775,000 Annual Principal Payments Due = May 1st Interest Rate = 3.60% Annual Interest Payments Due = May 1st & November 1st Issue Date = February 2015 Maturity Date = May 2036 4/14/2015 1:19 PM III
Sail Harbour Community Development District Assessment Comparison Original Fiscal Year Fiscal Year Fiscal Year Fiscal Year Projected 2012/2013 2013/2014 2014/2015 2015/2016 Assessment Assessment Assessment Assessment Projected Assessment Before Discount* Before Discount* Before Discount* Before Discount* Before Discount* O & M $ 168.54 $ 128.10 $ 135.38 $ 132.68 $ 168.51 Debt $ 1,223.46 $ 1,220.03 $ 1,212.75 $ 1,215.45 $ 1,079.31 Total $ 1,392.00 $ 1,348.13 $ 1,348.13 $ 1,348.13 $ 1,247.82 * 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: Total Units 473 4/14/2015 1:19 PM IV