Tree Island Estates Community Development District

Proposed Budget For Fiscal Year 2020/2021
October 1, 2020 - September 30, 2021

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

REVENUES	
FISCAL YEAR 2020/2021 BUDGET	
Administrative Assessments	61,766	
Maintenance Assessments	58,893	
Debt Assessments	124,143	
Other Revenues	0	
Interest Income	300	
		
TOTAL REVENUES	$	245,102	
		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	5,000	
Employer Taxes - Payroll	400	
Management	25,296	
Secretarial	3,900	
Legal	9,500	
Assessment Roll	6,000	
Audit Fees	3,600	
Insurance	6,200	
Legal Advertisements	550	
Miscellaneous	1,200	
Postage	275	
Office Supplies	600	
Website	750	
Dues & Subscriptions	175	
Trustee Fee	3,600	
Continuing Disclosure Fee	350	
TOTAL ADMINISTRATIVE EXPENDITURES	$	67,396	

MAINTENANCE EXPENDITURES		
Aquatic Maintenance	3,500	
Lawn/Landscape Maintenance	16,500	
Preserve Maintenance	15,500	
Maintenance Contingency	5,000	
Irrigation System Maintenance	2,860	
Entrance Feature	10,000	
Engineering/Inspections	2,000	
TOTAL MAINTENANCE EXPENDITURES	$	55,360	
		
TOTAL EXPENDITURES	$	122,756	
		
REVENUES LESS EXPENDITURES	$	122,346	
		
Bond Payments	(116,694)	
		
Balance	$	5,652	
		
County Appraiser & Tax Collector Fee	(4,896)	
Discounts For Early Payments	(9,792)	
		
EXCESS/ (SHORTFALL)	$	(9,036)	
		
Carryover From Prior Year	9,036	
		
NET EXCESS/ (SHORTFALL)	$	-	

REVENUES	
FISCAL YEAR 2018/2019
ACTUAL	
FISCAL YEAR 2019/2020
BUDGET	
FISCAL YEAR 2020/2021
BUDGET	

COMMENTS	
Administrative Assessments	60,856	62,298	61,766	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	60,172	58,362	58,893	Expenditures /.94	
Debt Assessments	124,143	124,143	124,143	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	424	300	300	Estimated At $25 Per Month	
					
TOTAL REVENUES	$	245,595	$	245,103	$	245,102		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	2,400	5,000	5,000	No Change From 2019/2020 Budget	
Employer Taxes - Payroll	184	400	400	Projected At 8% Of Supervisor Fees	
Management	24,276	24,723	25,296	CPI Adjustment	
Secretarial	3,900	3,900	3,900	No Change From 2019/2020 Budget	
Legal	7,750	9,500	9,500	No Change From 2019/2020 Budget	
Assessment Roll	6,000	6,000	6,000	No Change From 2019/2020 Budget	
Audit Fees	3,400	3,500	3,600	Accepted Amount For 2019/2020 Audit	
Insurance	5,000	6,360	6,200	Insurance Estimate	
Legal Advertisements	369	550	550	No Change From 2019/2020 Budget	
Miscellaneous	1,072	1,200	1,200	No Change From 2019/2020 Budget	
Postage	123	300	275	$25 Decrease From 2019/2020 Budget	
Office Supplies	242	625	600	$25 Decrease From 2019/2020 Budget	
Website	500	750	750	No Change From 2019/2020 Budget	
Dues & Subscriptions	175	175	175	No Change From 2019/2020 Budget	
Trustee Fee	3,548	3,600	3,600	No Change From 2019/2020 Budget	
Continuing Disclosure Fee	350	350	350	No Change From 2019/2020 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	59,289	$	66,933	$	67,396		

MAINTENANCE EXPENDITURES					
Aquatic Maintenance	2,730	3,500	3,500	No Change From 2019/2020 Budget	
Lawn/Landscape Maintenance	14,023	12,500	16,500	$4,000 Increase From 2019/2020 Budget	
Preserve Maintenance	14,640	16,000	15,500	$500 Decrease From 2019/2020 Budget	
Maintenance Contingency	3,496	8,000	5,000	$3,000 Decrease From 2019/2020 Budget	
Irrigation System Maintenance	0	2,860	2,860	No Change From 2019/2020 Budget	
Entrance Feature	795	10,000	10,000	No Change From 2019/2020 Budget	
Engineering/Inspections	2,600	2,000	2,000	No Change From 2019/2020 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	38,284	$	54,860	$	55,360		
					
TOTAL EXPENDITURES	$	97,573	$	121,793	$	122,756		
					
REVENUES LESS EXPENDITURES	$	148,022	$	123,310	$	122,346		
					
Bond Payments	(118,373)	(116,694)	(116,694)	2021 P & I Payments Less Earned Interest	
					
Balance	$	29,649	$	6,616	$	5,652		
					
County Appraiser & Tax Collector Fee	(2,360)	(4,896)	(4,896)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(9,022)	(9,792)	(9,792)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	18,267	$	(8,072)	$	(9,036)		
					
Carryover From Prior Year	0	8,072	9,036	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	18,267	$	-	$	-		

DETAILED PROPOSED DEBT SERVICE BUDGET
TREE ISLAND ESTATES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2018/2019 ACTUAL	FISCAL YEAR 2019/2020 BUDGET	FISCAL YEAR 2020/2021 BUDGET	

COMMENTS	

Interest Income	
680	
50	
50	
Projected Interest For 2020/2021	

NAV Tax Collection	
118,373	
116,694	
116,694	
Maximum Debt Service Collection	

Total Revenues	
$	119,053	
$	116,744	
$	116,744		

EXPENDITURES					

Principal Payments	
70,000	
70,000	
75,000	
Principal Payment Due In 2021	

Interest Payments	
45,338	
41,763	
39,406	
Interest Payments Due In 2021	

Bond Redemption	
10,000	
4,981	
2,338	
Estimated Excess Debt Collections	

Total Expenditures	
$	125,338	
$	116,744	
$	116,744		

Excess/ (Shortfall)	
$	(6,285)	
$	-	
$	-		

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 1/1/20 =	$1,320,000

4/28/2020 11:58 AM	III

Tree Island Estates CDD Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2017/2018	2018/2019	2019/2020	2020/2021	
Assessment	Assessment	Assessment	Projected Assessment	
Before Discount*	Before Discount*	Before Discount*	Before Discount*	

Administrative	$	259.47	$	220.76	$	227.37	$	225.43	
Maintenance	$	180.90	$	219.61	$	213.00	$	214.94	
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

4/28/2020 11:58 AM	IV