Hypoluxo/Haverhill Community Development District

Final Budget For Fiscal Year 2018/2019
October 1, 2018 - September 30, 2019

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

FINAL BUDGET
HYPOLUXO/HAVERHILL COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 -  SEPTEMBER 30, 2019

REVENUES	
FISCAL YEAR 2018/2019 BUDGET	
O & M Assessments	69,061	
Debt Assessments	99,827	
Other Revenues	0	
Interest Income	120	
		
TOTAL REVENUES	$		169,008	
		
EXPENDITURES		
Supervisor Fees	5,000	
Payroll Taxes (Employer)	400	
Engineering	1,500	
Management	24,756	
Secretarial	4,200	
Legal	7,000	
Assessment Roll	5,000	
Audit Fees	3,500	
Insurance	6,356	
Legal Advertisements	1,100	
Miscellaneous	800	
Postage	250	
Office Supplies	400	
Dues & Subscriptions	175	
Trustee Fee	3,700	
Continuing Disclosure Fee	1,000	
Website Management	1,500	
		
TOTAL EXPENDITURES	$		66,637	
		
REVENUES LESS EXPENDITURES	$		102,371	
		
Bond Payments	(93,837)	
		
BALANCE	$		8,534	
		
County Appraiser & Tax Collector Fee	(3,378)	
Discounts For Early Payments	(6,756)	
		
EXCESS/ (SHORTFALL)	$		(1,600)	
		
Carryover From Prior Year	1,600	
		
NET EXCESS/ (SHORTFALL)	$		-	

DETAILED FINAL BUDGET
HYPOLUXO/HAVERHILL COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 -  SEPTEMBER 30, 2019

REVENUES	
FISCAL YEAR 2016/2017 ACTUAL	
FISCAL YEAR 2017/2018 BUDGET	
FISCAL YEAR 2018/2019 BUDGET	

COMMENTS	
O & M Assessments	59,789	69,083	69,061	Expenditures Less Interest & Carryover/.94	
Debt Assessments	125,153	99,827	99,827	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	102	120	120	Projected At $10 Per Month	
					
TOTAL REVENUES	$	185,044	$	169,030	$	169,008		
					
EXPENDITURES					
Supervisor Fees	3,800	5,000	5,000	No Change From 2017/2018 Budget	
Payroll Taxes (Employer)	291	400	400	Projected At 8% Of Supervisor Fees	
Engineering	1,000	1,500	1,500	No Change From 2017/2018 Budget	
Management	23,760	24,252	24,756	CPI Adjustment	
Secretarial	4,200	4,200	4,200	No Change From 2017/2018 Budget	
Legal	7,942	7,000	7,000	No Change From 2017/2018 Budget	
Assessment Roll	5,000	5,000	5,000	As Per Contract	
Audit Fees	3,300	3,400	3,500	$100 Increase From 2017/2018 Budget	
Insurance	5,778	6,356	6,356	No Change From 2017/2018 Budget	
Legal Advertisements	2,157	1,100	1,100	No Change From 2017/2018 Budget	
Miscellaneous	445	800	800	No Change From 2017/2018 Budget	
Postage	197	275	250	$25 Decrease From 2017/2018 Budget	
Office Supplies	591	400	400	No Change From 2017/2018 Budget	
Dues & Subscriptions	175	175	175	No Change From 2017/2018 Budget	
Trustee Fee	3,300	3,700	3,700	No Change From 2017/2018 Budget	
Continuing Disclosure Fee	1,000	1,000	1,000	No Change From 2017/2018 Budget	
Website Management	1,500	1,500	1,500	No Change From 2017/2018 Budget	
					
TOTAL EXPENDITURES	$	64,436	$	66,058	$	66,637		

REVENUES LESS EXPENDITURES	$	120,608	$	102,972	$	102,371		
					
Bond Payments	(119,227)	(93,837)	(93,837)	2019 P & I Payments Less Earned Interest	
					
BALANCE	$	1,381	$	9,135	$	8,534		
					
County Appraiser & Tax Collector Fee	(1,268)	(3,378)	(3,378)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(6,982)	(6,757)	(6,756)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	(6,869)	$	(1,000)	$	(1,600)		
					
Carryover From Prior Year	0	1,000	1,600	Carryover Balance From Prior Years	
					
NET EXCESS/ (SHORTFALL)	$	(6,869)	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND BUDGET
HYPOLUXO/HAVERHILL COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	FISCAL YEAR 2016/2017 ACTUAL	FISCAL YEAR 2017/2018 BUDGET	FISCAL YEAR 2018/2019 BUDGET	

COMMENTS	

Interest Income	
100	
20	
0	
Projected Interest For 2018/2019	

NAV Tax Collection	
119,227	
93,837	
93,837	
Yearly Maximum Debt Assessment	

Total Revenues	
$	
119,327	
$	
93,857	
$	93,837		

EXPENDITURES					

Principal Payments	
70,000	
60,000	
65,000	
Principal Payment Due In 2019	

Interest Payments	
22,874	
27,594	
26,019	
Interest Payments Due In 2019	

Bond Redemption	
0	
6,263	
2,818	
Estimated Excess Debt Collections	

Total Expenditures	
$	
92,874	
$	
93,857	
$	93,837		

Excess/Shortfall	
$	
26,453	
$	
-	
$	-		

Series 2017 Bond Refunding Information

Original Par Amount =	$1,195,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	2.52% - 6.75%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	January 2017			
Maturity Date =

Par Amount As Of 1/1/18 =	May 2033

$1,125,000			

Hypoluxo/Haverhill Community Development District Assessment Comparison

O
Pr Ass	riginal		Fiscal Year		Fiscal Year		Fiscal Year		Fiscal Year	
	ojected		2015/2016		2016/2017		2017/2018		2018/2019	
	essment*		Assessment*		Assessment*		Assessment*		Projected Assessment*	

O & M	

$	

188.30		

$	

227.66		

$	

218.07		

$	

252.13		

$	

252.05	
Debt	$ 	457.71		$ 	446.91		$ 	456.50		$ 	364.33		$ 	364.33	
Total	$	646.01		$	674.57		$	674.57		$	616.46		$	616.38	

* Assessments Include the Following : 4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee

Community Information:
Total Units	274

4/27/2018  2:24 PM	IV