Tree Island Estates Community Development District

Proposed Budget For Fiscal Year 2022/2023
October 1, 2022 - September 30, 2023

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

DETAILED PROPOSED BUDGET
TREE ISLAND ESTATES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2022/2023 BUDGET	
Administrative Assessments	66,021	
Maintenance Assessments	54,638	
Debt Assessments	124,143	
Other Revenues	0	
Interest Income	240	
		
TOTAL REVENUES	$	245,042	
		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	5,000	
Employer Taxes - Payroll	400	
Management	26,412	
Secretarial	3,900	
Legal	9,250	
Assessment Roll	6,000	
Audit Fees	3,800	
Insurance	6,200	
Legal Advertisements	550	
Miscellaneous	1,200	
Postage	250	
Office Supplies	550	
Website	750	
Dues & Subscriptions	175	
Trustee Fee	3,600	
Continuing Disclosure Fee	350	
TOTAL ADMINISTRATIVE EXPENDITURES	$	68,387	

MAINTENANCE EXPENDITURES		
Aquatic Maintenance	3,500	
Lawn/Landscape Maintenance	17,000	
Preserve Maintenance	16,000	
Maintenance Contingency	9,000	
Irrigation System Maintenance	2,860	
Entrance Feature	0	
Entrance Feature Lighting (FPL)	1,000	
Engineering/Inspections	2,000	
TOTAL MAINTENANCE EXPENDITURES	$	51,360	
		
TOTAL EXPENDITURES	$	119,747	
		
REVENUES LESS EXPENDITURES	$	125,295	
		
Bond Payments	(116,694)	
		
Balance	$	8,601	
		
County Appraiser & Tax Collector Fee	(4,896)	
Discounts For Early Payments	(9,792)	
		
EXCESS/ (SHORTFALL)	$	(6,087)	
		
Carryover From Prior Year	6,087	
		
NET EXCESS/ (SHORTFALL)	$	(0)	

3/23/2022 10:28 AM	I

DETAILED FINAL BUDGET
TREE ISLAND ESTATES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2020/2021
ACTUAL	
FISCAL YEAR 2021/2022
BUDGET	
FISCAL YEAR 2022/2023
BUDGET	

COMMENTS	
Administrative Assessments	61,926	61,766	66,021	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	58,893	58,893	54,638	Expenditures /.94	
Debt Assessments	124,143	124,143	124,143	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	246	300	240	Estimated At $20 Per Month	
					
TOTAL REVENUES	$	245,208	$	245,102	$	245,042		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	2,400	5,000	5,000	No Change From 2021/2022 Budget	
Employer Taxes - Payroll	184	400	400	Projected At 8% Of Supervisor Fees	
Management	25,296	25,644	26,412	CPI Adjustment (Capped At 3%)	
Secretarial	3,900	3,900	3,900	No Change From 2021/2022 Budget	
Legal	6,055	9,500	9,250	$250 Decrease From 2021/2022 Budget	
Assessment Roll	6,000	6,000	6,000	No Change From 2021/2022 Budget	
Audit Fees	3,600	3,700	3,800	Accepted Amount For 2021/2022 Audit	
Insurance	5,618	6,200	6,200	Insurance Estimate	
Legal Advertisements	428	550	550	No Change From 2021/2022 Budget	
Miscellaneous	1,641	1,200	1,200	No Change From 2021/2022 Budget	
Postage	91	250	250	No Change From 2021/2022 Budget	
Office Supplies	102	575	550	$25 Decrease From 2021/2022 Budget	
Website	750	750	750	No Change From 2021/2022 Budget	
Dues & Subscriptions	175	175	175	No Change From 2021/2022 Budget	
Trustee Fee	3,547	3,600	3,600	No Change From 2021/2022 Budget	
Continuing Disclosure Fee	350	350	350	No Change From 2021/2022 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	60,137	$	67,794	$	68,387		

MAINTENANCE EXPENDITURES					
Aquatic Maintenance	2,700	3,500	3,500	No Change From 2021/2022 Budget	
Lawn/Landscape Maintenance	15,449	16,500	17,000	$500 Increase From 2021/2022 Budget	
Preserve Maintenance	15,300	15,500	16,000	$500 Increase From 2021/2022 Budget	
Maintenance Contingency	3,452	5,000	9,000	Maintenance Contingency	
Irrigation System Maintenance	0	2,860	2,860	No Change From 2021/2022 Budget	
Entrance Feature	13,371	10,000	0	Fiscal Year 2020/2021 Expenditure	
Entrance Feature Lighting (FPL)	0	0	1,000	Entrance Feature Lighting (FPL)	
Engineering/Inspections	975	2,000	2,000	No Change From 2021/2022 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	51,247	$	55,360	$	51,360		
					
TOTAL EXPENDITURES	$	111,384	$	123,154	$	119,747		
					
REVENUES LESS EXPENDITURES	$	133,824	$	121,948	$	125,295		
					
Bond Payments	(118,325)	(116,694)	(116,694)	2023 P & I Payments Less Earned Interest	
					
Balance	$	15,499	$	5,254	$	8,601		
					
County Appraiser & Tax Collector Fee	(2,358)	(4,896)	(4,896)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(9,117)	(9,792)	(9,792)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	4,024	$	(9,434)	$	(6,087)		
					
Carryover From Prior Year	0	9,434	6,087	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	4,024	$	(0)	$	(0)		

3/23/2022  10:28 AM	II

DETAILED FINAL DEBT SERVICE BUDGET
TREE ISLAND ESTATES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	FISCAL YEAR 2020/2021 ACTUAL	FISCAL YEAR 2021/2022 BUDGET	FISCAL YEAR 2022/2023 BUDGET	

COMMENTS	

Interest Income	
7	
25	
10	
Projected Interest For 2022/2023	

NAV Tax Collection	
118,325	
116,694	
116,694	
Maximum Debt Service Collection	

Total Revenues	
$	118,332	
$	116,719	
$	116,704		

EXPENDITURES					

Principal Payments	
75,000	
75,000	
80,000	
Principal Payment Due In 2023	

Interest Payments	
40,625	
36,969	
34,450	
Interest Payments Due In 2023	

Bond Redemption	
0	
4,750	
2,254	
Estimated Excess Debt Collections	

Total Expenditures	
$	115,625	
$	116,719	
$	116,704		

Excess/ (Shortfall)	
$	2,707	
$	-	
$	-		

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 1/1/22 =	$1,175,000

3/23/2022  10:28 AM	III

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2019/2020	2020/2021	2021/2022	2022/2023	
Assessment	Assessment	Assessment	Projected Assessment	
Before Discount*	Before Discount*	Before Discount*	Before Discount*	

Tree Island Estates CDD Assessment Comparison

Administrative	$	227.37	$	225.43	$	225.43	$	240.95	
Maintenance	$	213.00	$	214.94	$	214.94	$	199.42	

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
3/23/2022 10:28 AM	IV