Tree Island Estates Community Development District

Final Budget For Fiscal Year 2021/2022
October 1, 2021 - September 30, 2022

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 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2021/2022 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	25,644	
Secretarial	3,900	
Legal	9,500	
Assessment Roll	6,000	
Audit Fees	3,700	
Insurance	6,200	
Legal Advertisements	550	
Miscellaneous	1,200	
Postage	250	
Office Supplies	575	
Website	750	
Dues & Subscriptions	175	
Trustee Fee	3,600	
Continuing Disclosure Fee	350	
TOTAL ADMINISTRATIVE EXPENDITURES	$	67,794	

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	$	123,154	
		
REVENUES LESS EXPENDITURES	$	121,948	
		
Bond Payments	(116,694)	
		
Balance	$	5,254	
		
County Appraiser & Tax Collector Fee	(4,896)	
Discounts For Early Payments	(9,792)	
		
EXCESS/ (SHORTFALL)	$	(9,434)	
		
Carryover From Prior Year	9,434	
		
NET EXCESS/ (SHORTFALL)	$	(0)	

7/18/2021 10:53 AM	I

DETAILED FINAL BUDGET
TREE ISLAND ESTATES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2019/2020
ACTUAL	
FISCAL YEAR 2020/2021
BUDGET	
FISCAL YEAR 2021/2022
BUDGET	

COMMENTS	
Administrative Assessments	62,741	61,766	61,766	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	58,362	58,893	58,893	Expenditures /.94	
Debt Assessments	124,143	124,143	124,143	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	242	300	300	Estimated At $25 Per Month	
					
TOTAL REVENUES	$	245,488	$	245,102	$	245,102		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	2,400	5,000	5,000	No Change From 2020/2021 Budget	
Employer Taxes - Payroll	184	400	400	Projected At 8% Of Supervisor Fees	
Management	24,732	25,296	25,644	CPI Adjustment	
Secretarial	3,900	3,900	3,900	No Change From 2020/2021 Budget	
Legal	6,365	9,500	9,500	No Change From 2020/2021 Budget	
Assessment Roll	6,000	6,000	6,000	No Change From 2020/2021 Budget	
Audit Fees	3,500	3,600	3,700	Accepted Amount For 2020/2021 Audit	
Insurance	5,251	6,200	6,200	Insurance Estimate	
Legal Advertisements	579	550	550	No Change From 2020/2021 Budget	
Miscellaneous	611	1,200	1,200	No Change From 2020/2021 Budget	
Postage	108	275	250	$25 Decrease From 2020/2021 Budget	
Office Supplies	117	600	575	$25 Decrease From 2020/2021 Budget	
Website	750	750	750	No Change From 2020/2021 Budget	
Dues & Subscriptions	175	175	175	No Change From 2020/2021 Budget	
Trustee Fee	3,548	3,600	3,600	No Change From 2020/2021 Budget	
Continuing Disclosure Fee	350	350	350	No Change From 2020/2021 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	58,570	$	67,396	$	67,794		

MAINTENANCE EXPENDITURES					
Aquatic Maintenance	2,700	3,500	3,500	No Change From 2020/2021 Budget	
Lawn/Landscape Maintenance	15,390	16,500	16,500	No Change From 2020/2021 Budget	
Preserve Maintenance	15,300	15,500	15,500	No Change From 2020/2021 Budget	
Maintenance Contingency	0	5,000	5,000	No Change From 2020/2021 Budget	
Irrigation System Maintenance	2,044	2,860	2,860	No Change From 2020/2021 Budget	
Entrance Feature	2,303	10,000	10,000	No Change From 2020/2021 Budget	
Engineering/Inspections	975	2,000	2,000	No Change From 2020/2021 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	38,712	$	55,360	$	55,360		
					
TOTAL EXPENDITURES	$	97,282	$	122,756	$	123,154		
					
REVENUES LESS EXPENDITURES	$	148,206	$	122,346	$	121,948		
					
Bond Payments	(118,389)	(116,694)	(116,694)	2022 P & I Payments Less Earned Interest	
					
Balance	$	29,817	$	5,652	$	5,254		
					
County Appraiser & Tax Collector Fee	(2,361)	(4,896)	(4,896)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(8,990)	(9,792)	(9,792)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	18,466	$	(9,036)	$	(9,434)		
					
Carryover From Prior Year	0	9,036	9,434	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	18,466	$	-	$	(0)		

7/18/2021 10:53 AM	II

DETAILED FINAL DEBT SERVICE BUDGET
TREE ISLAND ESTATES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	FISCAL YEAR 2019/2020 ACTUAL	FISCAL YEAR 2020/2021 BUDGET	FISCAL YEAR 2021/2022 BUDGET	

COMMENTS	

Interest Income	
742	
50	
25	
Projected Interest For 2021/2022	

NAV Tax Collection	
118,389	
116,694	
116,694	
Maximum Debt Service Collection	

Total Revenues	
$	119,131	
$	116,744	
$	116,719		

EXPENDITURES					

Principal Payments	
70,000	
75,000	
75,000	
Principal Payment Due In 2022	

Interest Payments	
42,900	
39,406	
36,969	
Interest Payments Due In 2022	

Bond Redemption	
0	
2,338	
4,750	
Estimated Excess Debt Collections	

Total Expenditures	
$	112,900	
$	116,744	
$	116,719		

Excess/ (Shortfall)	
$	6,231	
$	-	
$	-		

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

* Rate Is adjustable After Ten Years
Par Amount As Of 1/1/21 =	$1,250,000

7/18/2021  10:53 AM	III

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2018/2019	2019/2020	2020/2021	2021/2022	
Assessment	Assessment	Assessment	Projected Assessment	
Before Discount*	Before Discount*	Before Discount*	Before Discount*	

Tree Island Estates CDD Assessment Comparison

Administrative	$	220.76	$	227.37	$	225.43	$	225.43	
Maintenance	$	219.61	$	213.00	$	214.94	$	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
7/18/2021 10:53 AM	IV