Caribe Palm Community Development District

Final Budget For Fiscal Year 2022/2023
October 1, 2022 - September 30, 2023

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
CARIBE PALM COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2022/2023 BUDGET	
Administrative Assessments	79,603	
Maintenance Assessments	58,532	
Debt Assessments	161,614	
Other Revenues	0	
Interest Income	720	
		
TOTAL REVENUES	$	300,469	
		
EXPENDITURES		
Maintenance Expenditures		
Engineering/Inspections	2,800	
Engineering - Special Projects	3,000	
Community Security	6,000	
Security Cameras/MTE/Upkeep	12,000	
FP&L Meter/Mailbox Area	4,200	
Street/Roadway Drainage Maintenance	4,200	
Maintenance/Contingency	22,820	
Total Maintenance Expenditures	$	55,020	
		
Administrative Expenditures		
Supervisor Fees	8,000	
Payroll Taxes (Employer)	612	
Management	30,360	
Secretarial And Field Operations	6,600	
Legal	4,000	
Assessment Roll	7,500	
Audit Fees	3,600	
Insurance	6,600	
Legal Advertisements	650	
Miscellaneous	1,500	
Postage	250	
Office Supplies	450	
Dues & Subscriptions	175	
Trustee Fees	3,150	
Continuing Disclosure Fee	350	
Website Management	1,750	
Total Administrative Expenditures	$	75,547	
		
TOTAL EXPENDITURES	$	130,567	
		
REVENUES LESS EXPENDITURES	$	169,902	
		
Bond Payments	(151,917)	
		
BALANCE	$	17,985	
		
County Appraiser & Tax Collector Fee	(5,995)	
Discounts For Early Payments	(11,990)	
		
EXCESS/ (SHORTFALL)	$	(0)	
		
Carryover From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	(0)	

5/21/2022 8:56 AM	I

DETAILED FINAL BUDGET
CARIBE PALM COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2020/2021 ACTUAL	
FISCAL YEAR 2021/2022 BUDGET	
FISCAL YEAR 2022/2023 BUDGET	

COMMENTS	
Administrative Assessments	80,481	79,869	79,603	Expenditures Less Interest/.94	
Maintenance Assessments	59,383	59,383	58,532	Expenditures/.94	
Debt Assessments	161,614	161,614	161,614	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	1,064	720	720	Interest Estimated At $60 Per Month	
					
TOTAL REVENUES	$	302,542	$	301,586	$	300,469		
					
EXPENDITURES					
Maintenance Expenditures					
Engineering/Inspections	1,590	2,800	2,800	No Change From 2021/2022 Budget	
Engineering - Special Projects	0	3,000	3,000	No Change From 2021/2022 Budget	
Community Security	0	6,000	6,000	No Change From 2021/2022 Budget	
Security Cameras/MTE/Upkeep	10,239	12,000	12,000	No Change From 2021/2022 Budget	
FP&L Meter/Mailbox Area	1,719	4,200	4,200	No Change From 2021/2022 Budget	
Street/Roadway Drainage Maintenance	850	4,200	4,200	No Change From 2021/2022 Budget	
Maintenance/Contingency	16,848	23,620	22,820	$800 Decrease From 2021/2022 Budget	
Total Maintenance Expenditures	$	31,246	$	55,820	$	55,020		
					
Administrative Expenditures					
Supervisor Fees	6,000	8,000	8,000	Supervisor Fees	
Payroll Taxes (Employer)	459	612	612	Supervisor Fees *7.65%	
Management	29,952	30,360	30,360	No Change From 2021/2022 Budget	
Secretarial And Field Operations	6,600	6,600	6,600	No Change From 2021/2022 Budget	
Legal	0	4,000	4,000	No Change From 2021/2022 Budget	
Assessment Roll	7,500	7,500	7,500	As Per Contract	
Audit Fees	3,500	3,600	3,600	No Change From 2021/2022 Budget	
Insurance	5,513	6,600	6,600	Insurance Estimate	
Legal Advertisements	335	650	650	No Change From 2021/2022 Budget	
Miscellaneous	777	1,700	1,500	$200 Decrease From 2021/2022 Budget	
Postage	175	275	250	$25 Decrease From 2021/2022 Budget	
Office Supplies	245	475	450	$25 Decrease From 2021/2022 Budget	
Dues & Subscriptions	175	175	175	No Change From 2021/2022 Budget	
Trustee Fees	3,150	3,150	3,150	No Change From 2021/2022 Budget	
Continuing Disclosure Fee	350	350	350	No Change From 2021/2022 Budget	
Website Management	1,750	1,750	1,750	No Change From 2021/2022 Budget	
Total Administrative Expenditures	$	66,481	$	75,797	$	75,547		
					
TOTAL EXPENDITURES	$	97,727	$	131,617	$	130,567		
					
REVENUES LESS EXPENDITURES	$	204,815	$	169,969	$	169,902		
					
Bond Payments	(154,087)	(151,917)	(151,917)	2023 P & I Payments Less Earned Interest	
					
BALANCE	$	50,728	$	18,052	$	17,985		
					
County Appraiser & Tax Collector Fee	(2,903)	(6,017)	(5,995)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(11,107)	(12,035)	(11,990)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	36,718	$	-	$	(0)		
					
Carryover From Prior Year	0	0	0	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	36,718	$	-	$	(0)		

5/21/2022 8:56 AM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET CARIBE PALM COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	

FISCAL YEAR

2020/2021

ACTUAL	

FISCAL YEAR

2021/2022

BUDGET	

FISCAL YEAR

2022/2023

BUDGET	

COMMENTS	

Interest Income	
9	
25	
25	
Projected Interest For FY 2022/2023	

NAV Tax Collection	
154,087	
151,917	
151,917	
Maximum Debt Service Collection	

Total Revenues	
$	154,096	
$	151,942	
$	151,942		

EXPENDITURES					

Principal Payments	
85,000	
83,000	
87,000	
Principal Payment Due In 2023	

Interest Payments	
68,405	
63,978	
61,003	
Interest Payments Due In 2023	

Bond Redemption	
0	
4,964	
3,940	
Bond Redemption	

TOTAL EXPENDITURES	
$	153,405	
$	151,942	
$	151,942		

EXCESS/ (SHORTFALL)	
$	691	
$	-	
$	-		

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 1/1/22 =	May 2035

$1,554,000			

5/21/2022 8:56 AM	III

Caribe Palm Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2019/2020	2020/2021	2021/2022	2022/2023	
Assessment	Assessment	Assessment	Projected Assessment	
 Before Discount* 	 Before Discount* 	 Before Discount* 		Before Discount*		

Administrative For Twenty Three Foot Lots	
$	263.34	
$	269.99	
$	269.83	
$	
268.93	
Maintenance For Twenty Three Foot Lots	$	207.81	$	200.62	$	200.62	$	197.75	
Debt For Twenty Three Foot Lots	$	493.08	$	493.08	$	493.08	$	493.08	
Total For Twenty Three Foot Lots	$	964.23	$	963.69	$	963.53	$	959.76	

Administrative For Fifty Foot Lots	$	263.34	$	269.99	$	269.83	$	268.93	
Maintenance For Fifty Foot Lots	$	207.81	$	200.62	$	200.62	$	197.75	
Debt For Fifty Foot Lots	$	604.96	$	604.96	$	604.96	$	604.96	
Total For Fifty Foot Lots	$	1,076.11	$	1,075.57	$	1,075.41	$	1,071.64	

* 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	

5/21/2022 8:56 AM	IV