Tree Island Estates Community Development District

Proposed Budget For Fiscal Year 2019/2020
October 1, 2019 - September 30, 2020

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

PROPOSED BUDGET
TREE ISLAND ESTATES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2019/2020 BUDGET	
Administrative Assessments	62,298	
Maintenance Assessments	58,362	
Debt Assessments	124,143	
Other Revenues	0	
Interest Income	300	
		
TOTAL REVENUES	$	245,103	
		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	5,000	
Employer Taxes - Payroll	400	
Management	24,723	
Secretarial	3,900	
Legal	9,500	
Assessment Roll	6,000	
Audit Fees	3,500	
Insurance	6,360	
Legal Advertisements	550	
Miscellaneous	1,200	
Postage	300	
Office Supplies	625	
Website	750	
Dues & Subscriptions	175	
Trustee Fee	3,600	
Continuing Disclosure Fee	350	
TOTAL ADMINISTRATIVE EXPENDITURES	$	66,933	

MAINTENANCE EXPENDITURES		
Aquatic Maintenance	3,500	
Lawn/Landscape Maintenance	12,500	
Preserve Maintenance	16,000	
Maintenance Contingency	8,000	
Irrigation System Maintenance	2,860	
Entrance Feature	10,000	
Engineering/Inspections	2,000	
TOTAL MAINTENANCE EXPENDITURES	$	54,860	
		
TOTAL EXPENDITURES	$	121,793	
		
REVENUES LESS EXPENDITURES	$	123,310	
		
Bond Payments	(116,694)	
		
Balance	$	6,616	
		
County Appraiser & Tax Collector Fee	(4,896)	
Discounts For Early Payments	(9,792)	
		
EXCESS/ (SHORTFALL)	$	(8,072)	
		
Carryover From Prior Year	8,072	
		
NET EXCESS/ (SHORTFALL)	$	-	

4/1/2019 12:12 PM	I

DETAILED PROPOSED BUDGET
TREE ISLAND ESTATES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2017/2018
ACTUAL	
FISCAL YEAR 2018/2019
BUDGET	
FISCAL YEAR 2019/2020
BUDGET	

COMMENTS	
Administrative Assessments	71,910	60,490	62,298	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	49,748	60,172	58,362	Expenditures /.94	
Debt Assessments	124,597	124,143	124,143	Bond Payments/.94	
Other Revenues	2,558	0	0		
Interest Income	383	300	300	Estimated At $25 Per Month	
					
TOTAL REVENUES	$	249,196	$	245,105	$	245,103		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	4,000	5,000	5,000	No Change From 2018/2019 Budget	
Employer Taxes - Payroll	306	400	400	Projected At 8% Of Supervisor Fees	
Management	23,784	24,276	24,723	CPI Adjustment	
Secretarial	3,900	3,900	3,900	No Change From 2018/2019 Budget	
Legal	7,745	10,000	9,500	$500 Decrease From 2018/2019 Budget	
Assessment Roll	6,000	6,000	6,000	No Change From 2018/2019 Budget	
Audit Fees	3,800	3,900	3,500	Accepted Amount For 2018/2019 Audit	
Insurance	5,778	6,360	6,360	Insurance Estimate	
Legal Advertisements	542	550	550	No Change From 2018/2019 Budget	
Miscellaneous	717	1,200	1,200	No Change From 2018/2019 Budget	
Postage	153	300	300	No Change From 2018/2019 Budget	
Office Supplies	298	650	625	$25 Decrease From 2018/2019 Budget	
Website	500	500	750	$250 Increase From 2018/2019 Budget	
Dues & Subscriptions	175	175	175	No Change From 2018/2019 Budget	
Trustee Fee	3,225	3,600	3,600	Trustee (US Bank) Increased Fees In 2018/2019	
Continuing Disclosure Fee	350	350	350	No Change From 2018/2019 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	61,273	$	67,161	$	66,933		

MAINTENANCE EXPENDITURES					
Aquatic Maintenance	2,700	4,000	3,500	$500 Decrease From 2018/2019 Budget	
Lawn/Landscape Maintenance	18,238	11,000	12,500	$1,500 Increase From 2018/2019 Budget	
Preserve Maintenance	15,300	16,000	16,000	No Change From 2018/2019 Budget	
Maintenance Contingency	3,890	10,702	8,000	$2,702 Decrease From 2018/2019 Budget	
Irrigation System Maintenance	0	2,860	2,860	No Change From 2018/2019 Budget	
Entrance Feature	1,425	10,000	10,000	No Change From 2018/2019 Budget	
Engineering/Inspections	850	2,000	2,000	No Change From 2018/2019 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	42,403	$	56,562	$	54,860		
					
TOTAL EXPENDITURES	$	103,676	$	123,723	$	121,793		
					
REVENUES LESS EXPENDITURES	$	145,520	$	121,382	$	123,310		
					
Bond Payments	(118,810)	(116,694)	(116,694)	2020 P & I Payments Less Earned Interest	
					
Balance	$	26,710	$	4,688	$	6,616		
					
County Appraiser & Tax Collector Fee	(2,371)	(4,896)	(4,896)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(9,045)	(9,792)	(9,792)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	15,294	$	(10,000)	$	(8,072)		
					
Carryover From Prior Year	0	10,000	8,072	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	15,294	$	-	$	-		

4/1/2019 12:12 PM	II

DETAILED PROPOSED DEBT SERVICE BUDGET
TREE ISLAND ESTATES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2017/2018 ACTUAL	FISCAL YEAR 2018/2019 BUDGET	FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	

Interest Income	
269	
50	
50	
Projected Interest For 2019/2020	

NAV Tax Collection	
118,810	
116,694	
116,694	
Maximum Debt Service Collection	

Total Revenues	
$	119,079	
$	116,744	
$	116,744		

EXPENDITURES					

Principal Payments	
65,000	
70,000	
70,000	
Principal Payment Due In 2020	

Interest Payments	
47,613	
44,363	
41,763	
Interest Payments Due In 2020	

Bond Redemption	
0	
2,381	
4,981	
Estimated Excess Debt Collections	

Total Expenditures	
$	112,613	
$	116,744	
$	116,744		

Excess/ (Shortfall)	
$	6,466	
$	-	
$	-		

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 1/1/19 =	$1,390,000

4/1/2019 12:12 PM	III

Tree Island Estates CDD Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2016/2017	2017/2018	2018/2019	2019/2020	
Assessment	Assessment	Assessment	Projected Assessment	
Before Discount*	Before Discount*	Before Discount*	Before Discount*	

Administrative	$	259.47	$	259.47	$	220.76	$	227.37	
Maintenance	$	180.90	$	180.90	$	219.61	$	213.00	
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

4/1/2019 12:12 PM	IV