Title: TIE Final Budget 2023-2024.xlsx
Author: JWalker

Tree Island Estates Community Development District

Final Budget For Fiscal Year 2023/2024
October 1, 2023 - September 30, 2024

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

FINAL BUDGET
TREE ISLAND ESTATES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES | FISCAL YEAR 2023/2024 BUDGET
Administrative Assessments | 73,994
Maintenance Assessments | 46,381
Debt Assessments | 124,424
Other Revenues | 0
Interest Income | 300
TOTAL REVENUES | $	245,099
ADMINISTRATIVE EXPENDITURES |
Supervisor Fees | 5,000
Employer Taxes - Payroll | 400
Management | 27,204
Secretarial | 3,900
Legal | 9,250
Assessment Roll | 6,000
Audit Fees | 3,900
Insurance | 6,900
Legal Advertisements | 550
Miscellaneous | 1,100
Postage | 250
Office Supplies | 525
Website | 750
Dues & Subscriptions | 175
Trustee Fee | 3,600
Continuing Disclosure Fee | 350
TOTAL ADMINISTRATIVE EXPENDITURES | $	69,854
MAINTENANCE EXPENDITURES |
Aquatic Maintenance | 3,500
Lawn/Landscape Maintenance | 19,000
Preserve Maintenance | 16,000
Maintenance Contingency | 9,000
Irrigation System Maintenance | 2,860
Entrance Feature | 1,000
Security Cameras | 25,000
Engineering/Inspections | 2,500
TOTAL MAINTENANCE EXPENDITURES | $	78,860
TOTAL EXPENDITURES | $	148,714
REVENUES LESS EXPENDITURES | $	96,385
Bond Payments | (116,959)
Balance | $	(20,574)
County Appraiser & Tax Collector Fee | (4,896)
Discounts For Early Payments | (9,792)
EXCESS/ (SHORTFALL) | $	(35,262)
Carryover From Prior Year | 35,262
NET EXCESS/ (SHORTFALL) | $	-

7/17/2023 10:43 AM	^I

DETAILED FINAL BUDGET
TREE ISLAND ESTATES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES

FISCAL YEAR 2021/2022
ACTUAL

FISCAL YEAR 2022/2023
BUDGET

FISCAL YEAR 2023/2024
BUDGET

COMMENTS

Administrative Assessments | 62,124 | 66,021 | 73,994 | Expenditures Less Interest/.94
Maintenance Assessments | 58,893 | 54,638 | 46,381 | Expenditures Less Carryover/.94
Debt Assessments | 124,144 | 124,143 | 124,424 | Bond Payments/.94
Other Revenues | 0 | 0 | 0 |
Interest Income | 251 | 240 | 300 | Estimated At $25 Per Month
TOTAL REVENUES | $	245,412 | $	245,042 | $	245,099 |
ADMINISTRATIVE EXPENDITURES | | | |
Supervisor Fees | 2,200 | 5,000 | 5,000 | No Change From 2022/2023 Budget
Employer Taxes - Payroll | 168 | 400 | 400 | Projected At 8% Of Supervisor Fees
Management | 25,644 | 26,412 | 27,204 | CPI Adjustment (Capped At 3%)
Secretarial | 3,900 | 3,900 | 3,900 | No Change From 2022/2023 Budget
Legal | 6,160 | 9,250 | 9,250 | No Change From 2022/2023 Budget
Assessment Roll | 6,000 | 6,000 | 6,000 | No Change From 2022/2023 Budget
Audit Fees | 3,700 | 3,800 | 3,900 | $100 Increase From 2022/2023 Budget
Insurance | 5,815 | 6,200 | 6,900 | Fiscal Year 2022/2023 Expenditure Was $6,493
Legal Advertisements | 530 | 550 | 550 | No Change From 2022/2023 Budget
Miscellaneous | 629 | 1,200 | 1,100 | $100 Decrease From 2022/2023 Budget
Postage | 125 | 250 | 250 | No Change From 2022/2023 Budget
Office Supplies | 249 | 550 | 525 | $25 Decrease From 2022/2023 Budget
Website | 750 | 750 | 750 | No Change From 2022/2023 Budget
Dues & Subscriptions | 175 | 175 | 175 | No Change From 2022/2023 Budget
Trustee Fee | 3,548 | 3,600 | 3,600 | No Change From 2022/2023 Budget
Continuing Disclosure Fee | 350 | 350 | 350 | No Change From 2022/2023 Budget
TOTAL ADMINISTRATIVE EXPENDITURES | $	59,943 | $	68,387 | $	69,854 |
MAINTENANCE EXPENDITURES | | | |
Aquatic Maintenance | 2,788 | 3,500 | 3,500 | No Change From 2022/2023 Budget
Lawn/Landscape Maintenance | 22,592 | 17,000 | 19,000 | $2,000 Increase From 2022/2023 Budget
Preserve Maintenance | 15,812 | 16,000 | 16,000 | No Change From 2022/2023 Budget
Maintenance Contingency | 11,465 | 9,000 | 9,000 | Maintenance Contingency
Irrigation System Maintenance | 0 | 2,860 | 2,860 | No Change From 2022/2023 Budget
Entrance Feature | 3,400 | 1,000 | 1,000 | Entrance Feature
Security Cameras | 0 | 0 | 25,000 | Security Cameras
Engineering/Inspections | 1,975 | 2,000 | 2,500 | $500 Increase From 2022/2023 Budget
TOTAL MAINTENANCE EXPENDITURES | $	58,032 | $	51,360 | $	78,860 |
TOTAL EXPENDITURES | $	117,975 | $	119,747 | $	148,714 |
REVENUES LESS EXPENDITURES | $	127,437 | $	125,295 | $	96,385 |
Bond Payments | (118,349) | (116,694) | (116,959) | 2024 Principal & Interest Payments
Balance | $	9,088 | $	8,601 | $	(20,574) |
County Appraiser & Tax Collector Fee | (2,361) | (4,896) | (4,896) | Two Percent Of Total Assessment Roll
Discounts For Early Payments | (9,071) | (9,792) | (9,792) | Four Percent Of Total Assessment Roll
EXCESS/ (SHORTFALL) | $	(2,344) | $	(6,087) | $	(35,262) |
Carryover From Prior Year | 0 | 6,087 | 35,262 | Carryover From Prior Year
NET EXCESS/ (SHORTFALL) | $	(2,344) | $	(0) | $	- |

7/17/2023 10:43 AM	^II

DETAILED FINAL DEBT SERVICE BUDGET
TREE ISLAND ESTATES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES | FISCAL YEAR 2021/2022 ACTUAL | FISCAL YEAR 2022/2023 BUDGET | FISCAL YEAR 2023/2024 BUDGET | COMMENTS
Interest Income | 7 | 10 | 100 | Projected Interest For 2023/2024
NAV Tax Collection | 118,349 | 116,694 | 116,959 | Maximum Debt Service Collection
Total Revenues | $	118,356 | $	116,704 | $	117,059 |
EXPENDITURES | | | |
Principal Payments | 75,000 | 80,000 | 64,000 | Principal Payment Due In 2024
Interest Payments | 38,188 | 34,450 | 52,313 | Interest Payments Due In 2024
Bond Redemption | 0 | 2,254 | 746 | Estimated Excess Debt Collections
Total Expenditures | $	113,188 | $	116,704 | $	117,059 |
Excess/ (Shortfall) | $	5,168 | $	- | $	- |

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 1/1/23 =	$1,100,000

7/17/2023 10:43 AM	^III

Fiscal Year | Fiscal Year | Fiscal Year | Fiscal Year
2020/2021 | 2021/2022 | 2022/2023 | 2023/2024
Assessment | Assessment | Assessment | Projected Assessment
Before Discount* | Before Discount* | Before Discount* | Before Discount*

Tree Island Estates CDD Assessment Comparison

Administrative | $	225.43 | $	225.43 | $	240.95 | $ | 270.06
Maintenance | $	214.94 | $	214.94 | $	199.42 | $ | 169.28

Debt

$	453.08

$	453.08

$	453.08

$	454.11

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
7/17/2023 10:43 AM	^IV