Caribe Palm 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 IV	ASSESSMENT COMPARISON

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

REVENUES	
FISCAL YEAR 2018/2019 BUDGET	
Administrative Assessments	77,240	
Maintenance Assessments	71,170	
Debt Assessments	161,614	
Other Revenues	0	
Interest Income	480	
		
TOTAL REVENUES	$		310,504	
		
EXPENDITURES		
Maintenance Expenditures		
Engineering/Inspections	2,800	
Engineering - Special Projects	3,000	
Community Security	6,000	
Security Cameras/MTE/Upkeep	15,000	
FP&L Meter/Mailbox Area	4,200	
Street/Roadway Drainage Maintenance	4,200	
Maintenance/Contingency	4,200	
Tract Q Improvements/Upgrades	27,500	
Total Maintenance Expenditures	$		66,900	
		
Administrative Expenditures		
Supervisor Fees	6,000	
Payroll Taxes (Employer)	471	
Management	28,740	
Secretarial And Field Operations	6,600	
Legal	4,000	
Assessment Roll	7,500	
Audit Fees	3,700	
Insurance	7,200	
Legal Advertisements	700	
Miscellaneous	2,000	
Postage	350	
Office Supplies	500	
Dues & Subscriptions	175	
Trustee Fees	3,150	
Continuing Disclosure Fee	500	
Website Management	1,500	
Total Administrative Expenditures	$		73,086	
		
TOTAL EXPENDITURES	$		139,986	
		
REVENUES LESS EXPENDITURES	$		170,518	
		
Bond Payments	(151,917)	
		
BALANCE	$		18,601	
		
County Appraiser & Tax Collector Fee	(6,200)	
Discounts For Early Payments	(12,401)	
		
EXCESS/ (SHORTFALL)	$		-	
		
Carryover From Prior Year	0	

NET EXCESS/ (SHORTFALL)	
$		
-	

DETALED FINAL BUDGET
CARIBE PALM 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	
Administrative Assessments	70,960	75,056	77,240	Expenditures Less Interest/.94	
Maintenance Assessments	83,830	75,957	71,170	Expenditures/.94	
Debt Assessments	176,572	163,400	161,614	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	674	420	480	Interest Estimated At $40 Per Month	
					
TOTAL REVENUES	$	332,036	$	314,833	$	310,504		
					
EXPENDITURES					
Maintenance Expenditures					
Engineering/Inspections	1,090	1,800	2,800	$1,000 Increase From 2017/2018 Budget	
Engineering - Special Projects	8,750	9,000	3,000	$6,000 Decrease From 2017/2018 Budget	
Community Security	0	9,000	6,000	$3,000 Decrease From 2017/2018 Budget	
Security Cameras/MTE/Upkeep	0	0	15,000	Security Cameras/MTE/Upkeep	
FP&L Meter/Mailbox Area	0	4,200	4,200	No Change From 2017/2018 Budget	
Street/Roadway Drainage Maintenance	1,417	3,600	4,200	$600 Increase From 2017/2018 Budget	
Maintenance/Contingency	400	4,800	4,200	$600 Decrease From 2017/2018 Budget	
Tract Q Improvements/Upgrades	60,804	39,000	27,500	$11,500 Decrease From 2017/2018 Budget	
Total Maintenance Expenditures	$	72,461	$	71,400	$	66,900		
					
Administrative Expenditures					
Supervisor Fees	6,200	6,000	6,000	No Change From 2017/2018 Budget	
Payroll Taxes (Employer)	474	471	471	Supervisor Fees *7.65%	
Management	27,576	28,152	28,740	CPI Adjustment	
Secretarial And Field Operations	5,000	6,000	6,600	$600 Increase From 2017/2018 Budget	
Legal	0	4,000	4,000	No Change From 2017/2018 Budget	
Assessment Roll	7,500	7,500	7,500	As Per Contract	
Audit Fees	3,600	3,700	3,700	Accepted Amount For 2017/2018 Audit	
Insurance	5,457	6,600	7,200	Insurance Estimate	
Legal Advertisements	282	750	700	$50 Decrease From 2017/2018 Budget	
Miscellaneous	1,291	1,750	2,000	$250 Increase From 2017/2018 Budget	
Postage	239	375	350	$25 Decrease From 2017/2018 Budget	
Office Supplies	657	500	500	No Change From 2017/2018 Budget	
Dues & Subscriptions	175	175	175	No Change From 2017/2018 Budget	
Trustee Fees	3,000	3,000	3,150	$3,000 Annual Fee Plus 5 Percent Trustee Costs	
Continuing Disclosure Fee	350	500	500	No Change From 2017/2018 Budget	
Website Management	1,500	1,500	1,500	No Change From 2017/2018 Budget	
Total Administrative Expenditures	$	63,301	$	70,973	$	73,086		
					
TOTAL EXPENDITURES	$	135,762	$	142,373	$	139,986		
					
REVENUES LESS EXPENDITURES	$	196,274	$	172,460	$	170,518		
					
Bond Payments	(168,383)	(153,596)	(151,917)	2019 P & I Payments Less Earned Interest	
					
BALANCE	$	27,891	$	18,864	$	18,601		
					
County Appraiser & Tax Collector Fee	(3,192)	(6,288)	(6,200)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(12,149)	(12,576)	(12,401)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	12,550	$	-	$	-		
					
Carryover From Prior Year	0	0	0	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	12,550	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND BUDGET CARIBE PALM 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	
408	
25	
50	
Projected Interest For FY 2018/2019	

NAV Tax Collection	
168,383	
153,596	
151,917	
Maximum Debt Service Collection	

Total Revenues	
$	168,791	
$	153,621	
$	151,967		

EXPENDITURES					

Principal Payments	
55,000	
73,000	
77,000	
Principal Payment Due In 2019	

Interest Payments	
112,613	
76,213	
72,588	
Interest Payments Due In 2019	

Bond Redemption	
0	
4,408	
2,379	
Bond Redemption	

TOTAL EXPENDITURES	
$	167,613	
$	153,621	
$	151,967		

EXCESS/ (SHORTFALL)	
$	1,178	
$	-	
$	-		

Series 2017 Bond Refunding Information

Original Par Amount =	$1,870,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	3.5% - 4.5%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	July 2017			
Maturity Date =

Par Amount As Of 1/1/18 =	May 2035

$1,870,000			

Caribe Palm Community Development District Assessment Comparison

	Fiscal Year		Fiscal Year		Fiscal Year		Fiscal Year	
	2015/2016		2016/2017		2017/2018		2018/2019	
	Assessment		Assessment		Assessment		Projected Assessment	
	Before Discount*		Before Discount*		Before Discount*		Before Discount*	

Administrative For Twenty Three Foot Lots	
$	
224.10		
$	
238.59		
$	
253.57		
$	
260.95	
Maintenance For Twenty Three Foot Lots	$	383.84		$	283.21		$	256.61		$	240.44	
Debt For Twenty Three Foot Lots	$ 	549.08		$ 	538.71		$ 	500.00		$ 	493.08	
Total For Twenty Three Foot Lots	$	1,157.02		$	1,060.51		$	1,010.18		$	994.47	

Administrative For Fifty Foot Lots	
$	
224.10		
$	
238.59		
$	
253.57		
$	
260.95	
Maintenance For Fifty Foot Lots	$	383.84		$	283.21		$	256.61		$	240.44	
Debt For Fifty Foot Lots	$ 	673.67		$ 	660.95		$ 	610.00		$ 	604.96	
Total For Fifty Foot Lots	$	1,281.61		$	1,182.75		$	1,120.18		$	1,106.35	

* Assessments Include the Following :  4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee		
Community Information:  Twenty Three Foot Lots	
156	
Fifty Foot Lots	140	
Total Units	296