Hypoluxo/Haverhill 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

ASSESSMENT COMPARISON

PROPOSED BUDGET
HYPOLUXO/HAVERHILL COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 -  SEPTEMBER 30, 2021

REVENUES	

FISCAL YEAR 2020/2021
BUDGET	
O & M Assessments	69,021	
Debt Assessments	99,827	
Other Revenues	0	
Interest Income	120	
		
TOTAL REVENUES	$	168,968	
		
EXPENDITURES		
Supervisor Fees	5,000	
Payroll Taxes (Employer)	400	
Engineering	2,500	
Management	25,800	
Secretarial	4,200	
Legal	7,000	
Assessment Roll	5,000	
Audit Fees	3,400	
Insurance	6,000	
Legal Advertisements	1,100	
Miscellaneous	750	
Postage	200	
Office Supplies	375	
Dues & Subscriptions	175	
Trustee Fee	3,700	
Website Management	2,000	
Lake Maintenance	5,800	
TOTAL EXPENDITURES	$	73,400	
		
REVENUES LESS EXPENDITURES	$	95,568	
		
Bond Payments	(93,837)	
		
BALANCE	$	1,731	
		
County Appraiser & Tax Collector Fee	(3,377)	
Discounts For Early Payments	(6,754)	
		
EXCESS/ (SHORTFALL)	$	(8,400)	
		
Carryover From Prior Year	8,400	
		
NET EXCESS/ (SHORTFALL)	$	-	

5/13/2020  10:56 AM	I

DETAILED PROPOSED BUDGET
HYPOLUXO/HAVERHILL 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	
O & M Assessments	69,141	69,053	69,021	Expenditures Less Interest & Carryover/.94	
Debt Assessments	99,892	99,827	99,827	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	128	120	120	Projected At $10 Per Month	
					
TOTAL REVENUES	$	169,161	$	169,000	$	168,968		
					
EXPENDITURES					
Supervisor Fees	3,800	5,000	5,000	No Change From 2019/2020 Budget	
Payroll Taxes (Employer)	291	400	400	Projected At 8% Of Supervisor Fees	
Engineering	7,338	1,500	2,500	$1,000 Increase From 2019/2020 Budget	
Management	24,756	25,224	25,800	CPI Adjustment	
Secretarial	4,200	4,200	4,200	No Change From 2019/2020 Budget	
Legal	6,271	7,000	7,000	No Change From 2019/2020 Budget	
Assessment Roll	5,000	5,000	5,000	As Per Contract	
Audit Fees	3,500	3,600	3,400	Accepted Amount For 2019/2020 Audit	
Insurance	5,000	6,356	6,000	Insurance Estimate	
Legal Advertisements	1,018	1,100	1,100	No Change From 2019/2020 Budget	
Miscellaneous	351	775	750	$25 Decrease From 2019/2020 Budget	
Postage	74	225	200	$25 Decrease From 2019/2020 Budget	
Office Supplies	376	375	375	No Change From 2019/2020 Budget	
Dues & Subscriptions	175	175	175	No Change From 2019/2020 Budget	
Trustee Fee	3,180	3,700	3,700	No Change From 2019/2020 Budget	
Website Management	1,500	2,000	2,000	No Change From 2019/2020 Budget	
Lake Maintenance	0	0	5,800	Lake Maintenance	
TOTAL EXPENDITURES	$	66,830	$	66,630	$	73,400		

REVENUES LESS EXPENDITURES	$	102,331	$	102,370	$	95,568		
					
Bond Payments	(95,197)	(93,837)	(93,837)	2021 P & I Payments Less Earned Interest	
					
BALANCE	$	7,134	$	8,533	$	1,731		

County Appraiser & Tax Collector Fee	(1,144)	(3,378)	(3,377)	Two Percent Of Total Assessment Roll	

Discounts For Early Payments	(6,344)	(6,755)	(6,754)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	(354)	$	(1,600)	$	(8,400)		
					
Carryover From Prior Year	0	1,600	8,400	Carryover Balance From Prior Years	

NET EXCESS/ (SHORTFALL)	
$	(354)	
$	-	
$	-		

5/13/2020 10:56 AM	II

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
HYPOLUXO/HAVERHILL 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	
163	
0	
50	
Projected Interest For 2020/2021	

NAV Tax Collection	
95,197	
93,837	
93,837	
Yearly Maximum Debt Assessment	

Total Revenues	
$	95,360	
$	93,837	
$	93,887		

EXPENDITURES					

Principal Payments	
65,000	
65,000	
70,000	
Principal Payment Due In 2021	

Interest Payments	
26,838	
24,381	
22,680	
Interest Payments Due In 2021	

Bond Redemption	
0	
4,456	
1,207	
Estimated Excess Debt Collections	

Total Expenditures	
$	91,838	
$	93,837	
$	93,887		

Excess/Shortfall	
$	3,522	
$	-	
$	-		

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 1/1/20 =	May 2033

$1,000,000			

5/13/2020 10:56 AM	III

Hypoluxo/Haverhill Community Development District Assessment Comparison

O & M

Original	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
Projected	2017/2018	2018/2019	2019/2020	2020/2021	
 	Assessment*		    Assessment*		    Assessment*		 	Assessment* 	 	Projected Assessment*		

$	188.30	$

252.13	$

252.05	$

252.03	$

251.91

Debt

$	457.71

$	364.33

$	364.33

$	364.33

$	364.33

Total

$	646.01	$

616.46	$

616.38	$

616.36	$

616.24

* Assessments Include the Following :	 4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee
Community Information:		 Total Units	274

5/13/2020  10:56 AM	IV