Tree Island Estates Community Development District

Final Budget For Fiscal Year 2018/2019
October 1, 2018 - September 30, 2019

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
TREE ISLAND ESTATES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	
FISCAL YEAR 2018/2019 BUDGET	
Administrative Assessments	60,490	
Maintenance Assessments	60,172	
Debt Assessments	124,143	
Other Revenues	0	
Interest Income	300	
		
TOTAL REVENUES	$	245,105	
		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	5,000	
Employer Taxes - Payroll	400	
Management	24,276	
Secretarial	3,900	
Legal	10,000	
Assessment Roll	6,000	
Audit Fees	3,900	
Insurance	6,360	
Legal Advertisements	550	
Miscellaneous	1,200	
Postage	300	
Office Supplies	650	
Website	500	
Dues & Subscriptions	175	
Trustee Fee	3,600	
Continuing Disclosure Fee	350	
TOTAL ADMINISTRATIVE EXPENDITURES	$	67,161	

MAINTENANCE EXPENDITURES		
Aquatic Maintenance	4,000	
Lawn/Landscape Maintenance	11,000	
Preserve Maintenance	16,000	
Maintenance Contingency	10,702	
Irrigation System Maintenance	2,860	
Entrance Feature	10,000	
Engineering/Inspections	2,000	
TOTAL MAINTENANCE EXPENDITURES	$	56,562	
		
TOTAL EXPENDITURES	$	123,723	
		
REVENUES LESS EXPENDITURES	$	121,382	
		
Bond Payments	(116,694)	
		
Balance	$	4,688	
		
County Appraiser & Tax Collector Fee	(4,896)	
Discounts For Early Payments	(9,792)	
		
EXCESS/ (SHORTFALL)	$	(10,000)	
		
Carryover From Prior Year	10,000	
		
NET EXCESS/ (SHORTFALL)	$	-	

5/14/2018 9:52 AM	I

DETAILED FINAL BUDGET
TREE ISLAND ESTATES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	
FISCAL YEAR 2016/2017
ACTUAL	
FISCAL YEAR 2017/2018
BUDGET	
FISCAL YEAR 2018/2019
BUDGET	

COMMENTS	
Administrative Assessments	71,085	71,095	60,490	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	49,386	49,567	60,172	Expenditures /.94	
Debt Assessments	123,691	124,143	124,143	Bond Payments/.94	
Other Revenues	1,165	0	0		
Interest Income	333	240	300	Estimated At $25 Per Month	
					
TOTAL REVENUES	$	245,660	$	245,045	$	245,105		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	2,200	5,000	5,000	No Change From 2017/2018 Budget	
Employer Taxes - Payroll	272	400	400	Projected At 8% Of Supervisor Fees	
Management	23,784	23,784	24,276	CPI Adjustment	
Secretarial	3,900	3,900	3,900	No Change From 2017/2018 Budget	
Legal	6,336	10,500	10,000	$500 Decrease From 2017/2018 Budget	
Assessment Roll	6,000	6,000	6,000	No Change From 2017/2018 Budget	
Audit Fees	3,700	3,800	3,900	$100 Increase From 2017/2018 Budget	
Insurance	5,778	6,360	6,360	Insurance Company Estimate	
Legal Advertisements	355	550	550	No Change From 2017/2018 Budget	
Miscellaneous	386	1,200	1,200	No Change From 2017/2018 Budget	
Postage	99	300	300	No Change From 2017/2018 Budget	
Office Supplies	615	650	650	No Change From 2017/2018 Budget	
Website	500	500	500	No Change From 2017/2018 Budget	
Dues & Subscriptions	175	175	175	No Change From 2017/2018 Budget	
Trustee Fee	3,225	3,450	3,600	Trustee (US Bank) Increasing Fees In 2018/2019	
Continuing Disclosure Fee	350	500	350	$150 Decrease From 2017/2018 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	57,675	$	67,069	$	67,161		

MAINTENANCE EXPENDITURES					
Aquatic Maintenance	3,360	4,000	4,000	No Change From 2017/2018 Budget	
Lawn/Landscape Maintenance	12,801	9,000	11,000	$2,000 Increase From 2017/2018 Budget	
Preserve Maintenance	15,300	16,000	16,000	No Change From 2017/2018 Budget	
Maintenance Contingency	1,160	15,594	10,702	$4,892 Decrease From 2017/2018 Budget	
Irrigation System Maintenance	0	0	2,860	Irrigation System Maintenance	
Entrance Feature	0	0	10,000	Entrance Feature	
Engineering/Inspections	1,550	2,000	2,000	No Change From 2017/2018 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	34,171	$	46,594	$	56,562		
					
TOTAL EXPENDITURES	$	91,846	$	113,663	$	123,723		
					
REVENUES LESS EXPENDITURES	$	153,814	$	131,382	$	121,382		
					
Bond Payments	(117,957)	(116,694)	(116,694)	2019 P & I Payments Less Earned Interest	
					
Balance	$	35,857	$	14,688	$	4,688		
					
County Appraiser & Tax Collector Fee	(2,352)	(4,896)	(4,896)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(8,956)	(9,792)	(9,792)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	24,549	$	-	$	(10,000)		
					
Carryover From Prior Year	0	0	10,000	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	24,549	$	-	$	-		

5/14/2018 9:52 AM	II

DETAILED FINAL DEBT SERVICE BUDGET
TREE ISLAND ESTATES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	FISCAL YEAR 2016/2017 ACTUAL	FISCAL YEAR 2017/2018 BUDGET	FISCAL YEAR 2018/2019 BUDGET	

COMMENTS	

Interest Income	
187	
50	
50	
Projected Interest For 2018/2019	

NAV Tax Collection	
117,957	
116,694	
116,694	
Maximum Debt Service Collection	

Total Revenues	
$	118,144	
$	116,744	
$	116,744		

EXPENDITURES					

Principal Payments	
65,000	
65,000	
70,000	
Principal Payment Due In 2019	

Interest Payments	
49,725	
46,556	
44,363	
Interest Payments Due In 2019	

Bond Redemption	
0	
5,188	
2,381	
Estimated Excess Debt Collections	

Total Expenditures	
$	114,725	
$	116,744	
$	116,744		

Excess/ (Shortfall)	
$	3,419	
$	-	
$	-		

Series 2014 Bond Refunding Information
Original Par Amount =
Interest Rate=	$1,680,000
3.25%*	Annual Principal Payments Due:
Annual Interest Payments Due :	May 1st
May 1st & November 1st	
Issue Date:
Maturity Date:	May 2014
May 2034			

* Rate Is adjustable After Ten Years
Par Amount As Of 1/1/18 =	$1,465,000

5/14/2018 9:52 AM	III

Tree Island Estates CDD Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2015/2016	2016/2017	2017/2018	2018/2019	
Assessment	Assessment	Assessment	Projected Assessment	
Before Discount*	Before Discount*	Before Discount*	Before Discount*	

Administrative	$	259.47	$	259.47	$	259.47	$	220.76	
Maintenance	$	180.90	$	180.90	$	180.90	$	219.61	
Debt	$	453.08	$	453.08	$	453.08	$	453.08	
Total	$	893.45	$	893.45	$	893.45	$	893.45	

* Assessments Include the Following :
4% Discount for Early Payments 1% County Tax Collector Fee
1% County Property Appraiser Fee

Community Information:		                                                             Total Units	274

5/14/2018 9:52 AM	IV