Hypoluxo/Haverhill Community Development District

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

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

PROPOSED BUDGET
HYPOLUXO/HAVERHILL COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2021/2022 BUDGET	
O & M Assessments	82,649	
Debt Assessments	99,827	
Other Revenues	0	
Interest Income	120	
		
TOTAL REVENUES	$	182,596	
		
EXPENDITURES		
Supervisor Fees	5,000	
Payroll Taxes (Employer)	400	
Engineering	2,500	
Management	26,160	
Secretarial	4,200	
Legal	7,000	
Assessment Roll	5,000	
Audit Fees	3,500	
Insurance	6,000	
Legal Advertisements	1,100	
Miscellaneous	700	
Postage	225	
Office Supplies	350	
Dues & Subscriptions	175	
Trustee Fee	3,500	
Website Management	2,000	
Lake Maintenance	10,000	
TOTAL EXPENDITURES	$	77,810	
		
REVENUES LESS EXPENDITURES	$	104,786	
		
Bond Payments	(93,837)	
		
BALANCE	$	10,949	
		
County Appraiser & Tax Collector Fee	(3,650)	
Discounts For Early Payments	(7,299)	
		
EXCESS/ (SHORTFALL)	$	-	
		
Carryover From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

Note: Estimated Fund Balance As Of 9-30-21 is $33,000.

3/10/2021  10:53 AM	I

DETAILED PROPOSED BUDGET
HYPOLUXO/HAVERHILL 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	
O & M Assessments	69,127	69,021	82,649	Expenditures Less Interest & Carryover/.94	
Debt Assessments	99,881	99,827	99,827	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	165	120	120	Projected At $10 Per Month	
					
TOTAL REVENUES	$	169,173	$	168,968	$	182,596		
					
EXPENDITURES					
Supervisor Fees	3,200	5,000	5,000	No Change From 2020/2021 Budget	
Payroll Taxes (Employer)	245	400	400	Projected At 8% Of Supervisor Fees	
Engineering	675	2,500	2,500	No Change From 2020/2021 Budget	
Management	25,224	25,800	26,160	CPI Adjustment	
Secretarial	4,200	4,200	4,200	No Change From 2020/2021 Budget	
Legal	6,269	7,000	7,000	No Change From 2020/2021 Budget	
Assessment Roll	5,000	5,000	5,000	As Per Contract	
Audit Fees	3,300	3,400	3,500	Accepted Amount For 2020/2021 Audit	
Insurance	5,251	6,000	6,000	Insurance Estimate	
Legal Advertisements	1,373	1,100	1,100	No Change From 2020/2021 Budget	
Miscellaneous	306	750	700	$50 Decrease From 2020/2021 Budget	
Postage	112	200	225	$25 Increase From 2020/2021 Budget	
Office Supplies	220	375	350	$25 Decrease From 2020/2021 Budget	
Dues & Subscriptions	175	175	175	No Change From 2020/2021 Budget	
Trustee Fee	3,180	3,700	3,500	$200 Decrease From 2020/2021 Budget	
Website Management	2,000	2,000	2,000	No Change From 2020/2021 Budget	
Lake Maintenance	98	5,800	10,000	
FY 2020/2021 Expenditure Through Feb 2021 Was $4,264	
TOTAL EXPENDITURES	$	60,828	$	73,400	$	77,810		

REVENUES LESS EXPENDITURES	$	108,345	$	95,568	$	104,786		
					
Bond Payments	(95,197)	(93,837)	(93,837)	2022 P & I Payments Less Earned Interest	
					
BALANCE	$	13,148	$	1,731	$	10,949		

County Appraiser & Tax Collector Fee	(1,159)	(3,377)	(3,650)	Two Percent Of Total Assessment Roll	

Discounts For Early Payments	(6,325)	(6,754)	(7,299)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	5,664	$	(8,400)	$	-		
					
Carryover From Prior Year	0	8,400	0	Carryover Balance From Prior Years	

NET EXCESS/ (SHORTFALL)	
$	5,664	
$	-	
$	-		

Note: Estimated Fund Balance As Of 9-30-21 is $33,000.

3/10/2021 10:53 AM	II

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
HYPOLUXO/HAVERHILL 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	
44	
50	
25	
Projected Interest For 2021/2022	

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

Total Revenues	
$	95,241	
$	93,887	
$	93,862		

EXPENDITURES					

Principal Payments	
65,000	
70,000	
70,000	
Principal Payment Due In 2022	

Interest Payments	
25,200	
22,680	
20,916	
Interest Payments Due In 2022	

Bond Redemption	
0	
1,207	
2,946	
Estimated Excess Debt Collections	

Total Expenditures	
$	90,200	
$	93,887	
$	93,862		

Excess/Shortfall	
$	5,041	
$	-	
$	-		

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 1/1/21 =	May 2033

$935,000			

3/10/2021 10:53 AM	III

Hypoluxo/Haverhill Community Development District Assessment Comparison

O & M

Original	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
Projected	2018/2019	2019/2020	2020/2021	2021/2022	
 	Assessment*		    Assessment*		 	Assessment* 	 	Assessment* 	 	Projected Assessment*		

$	188.30	$

252.05	$

252.03	$

251.91	$

301.64

Debt

$	457.71

$	364.33

$	364.33

$	364.33

$	364.33

Total

$	646.01	$

616.38	$

616.36	$

616.24	$

665.97

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

3/10/2021 10:53 AM	IV