Caribe Palm Community Development District

Final Budget For Fiscal Year 2024/2025
October 1, 2024 - September 30, 2025

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

FINAL BUDGET
CARIBE PALM COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	
FISCAL YEAR 2024/2025 BUDGET	
Administrative Assessments	47,255	
Maintenance Assessments	57,659	
Debt Assessments	161,614	
Other Revenues	0	
Interest Income	1,080	
		
TOTAL REVENUES	$	267,608	
		
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	22,000	
Total Maintenance Expenditures	$	54,200	
		
Administrative Expenditures		
Supervisor Fees	10,000	
Payroll Taxes (Employer)	765	
Management	30,360	
Secretarial And Field Operations	6,600	
Legal	4,000	
Assessment Roll	7,500	
Audit Fees	3,800	
Insurance	7,300	
Legal Advertisements	1,800	
Miscellaneous	1,500	
Postage	300	
Office Supplies	450	
Dues & Subscriptions	175	
Trustee Fees	3,850	
Continuing Disclosure Fee	350	
Website Management	1,750	
Total Administrative Expenditures	$	80,500	
		
TOTAL EXPENDITURES	$	134,700	
		
REVENUES LESS EXPENDITURES	$	132,908	
		
Bond Payments	(151,917)	
		
BALANCE	$	(19,009)	
		
County Appraiser & Tax Collector Fee	(5,330)	
Discounts For Early Payments	(10,661)	
		
EXCESS/ (SHORTFALL)	$	(35,000)	
		
Carryover From Prior Year	35,000	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED FINAL BUDGET
CARIBE PALM COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	
FISCAL YEAR 2022/2023 ACTUAL	
FISCAL YEAR 2023/2024 BUDGET	
FISCAL YEAR 2024/2025 BUDGET	

COMMENTS	
Administrative Assessments	80,071	80,454	47,255	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	58,533	57,659	57,659	Expenditures/.94	
Debt Assessments	161,616	161,614	161,614	Bond Payments/.94	
Other Revenues	1,907	0	0		
Interest Income	19,247	720	1,080	Interest Estimated At $90 Per Month	
					
TOTAL REVENUES	$	321,374	$	300,447	$	267,608		
					
EXPENDITURES					
Maintenance Expenditures					
Engineering/Inspections	1,800	2,800	2,800	No Change From 2023/2024 Budget	
Engineering - Special Projects	0	3,000	3,000	No Change From 2023/2024 Budget	
Community Security	0	6,000	6,000	No Change From 2023/2024 Budget	
Security Cameras/MTE/Upkeep	10,128	12,000	12,000	No Change From 2023/2024 Budget	
FP&L Meter/Mailbox Area	1,405	4,200	4,200	No Change From 2023/2024 Budget	
Street/Roadway Drainage Maintenance	9,700	4,200	4,200	No Change From 2023/2024 Budget	
Maintenance/Contingency	16,761	22,000	22,000	No Change From 2023/2024 Budget	
Total Maintenance Expenditures	$	39,794	$	54,200	$	54,200		
					
Administrative Expenditures					
Supervisor Fees	9,400	8,000	10,000	Supervisor Fees	
Payroll Taxes (Employer)	719	612	765	Supervisor Fees *7.65%	
Management	30,360	30,360	30,360	No Change From 2023/2024 Budget	
Secretarial And Field Operations	6,600	6,600	6,600	No Change From 2023/2024 Budget	
Legal	0	4,000	4,000	No Change From 2023/2024 Budget	
Assessment Roll	7,500	7,500	7,500	As Per Contract	
Audit Fees	3,600	3,700	3,800	$100 Increase From 2023/2024 Budget	
Insurance	6,134	6,600	7,300	Fiscal Year 2023/2024 Expenditure Was $6,594	
Legal Advertisements	782	650	1,800	Costs Will Increase Due To Closing Of The Miami Business Review	
Miscellaneous	1,445	1,500	1,500	No Change From 2023/2024 Budget	
Postage	461	250	300	$50 Increase From 2023/2024 Budget	
Office Supplies	391	450	450	No Change From 2023/2024 Budget	
Dues & Subscriptions	175	175	175	No Change From 2023/2024 Budget	
Trustee Fees	3,780	3,850	3,850	No Change From 2023/2024 Budget	
Continuing Disclosure Fee	350	350	350	No Change From 2023/2024 Budget	
Website Management	1,750	1,750	1,750	No Change From 2023/2024 Budget	
Total Administrative Expenditures	$	73,447	$	76,347	$	80,500		
					
TOTAL EXPENDITURES	$	113,241	$	130,547	$	134,700		
					
REVENUES LESS EXPENDITURES	$	208,133	$	169,900	$	132,908		
					
Bond Payments	(154,057)	(151,917)	(151,917)	2025 P & I Payments Less Earned Interest	
					
BALANCE	$	54,076	$	17,983	$	(19,009)		
					
County Appraiser & Tax Collector Fee	(2,888)	(5,994)	(5,330)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(11,135)	(11,989)	(10,661)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	40,053	$	-	$	(35,000)		
					
Carryover From Prior Year	0	0	35,000	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	40,053	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND BUDGET CARIBE PALM COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	FISCAL YEAR 2022/2023 ACTUAL	FISCAL YEAR 2023/2024 BUDGET	FISCAL YEAR 2024/2025 BUDGET	

COMMENTS	

Interest Income	
6,721	
100	
500	
Projected Interest For FY 2024/2025	

NAV Tax Collection	
154,057	
151,917	
151,917	
Maximum Debt Service Collection	

Total Revenues	
$	160,778	
$	152,017	
$	152,417		

EXPENDITURES					

Principal Payments	
87,000	
90,000	
94,000	
Principal Payment Due In 2025	

Interest Payments	
62,525	
57,680	
54,000	
Interest Payments Due In 2025	

Bond Redemption	
0	
4,337	
4,417	
Bond Redemption	

TOTAL EXPENDITURES	
$	149,525	
$	152,017	
$	152,417		

EXCESS/ (SHORTFALL)	
$	11,253	
$	-	
$	-		

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 1/1/24 =	May 2035

$1,384,000			

Caribe Palm Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2021/2022	2022/2023	2023/2024	2024/2025	
Assessment	Assessment	Assessment	Projected Assessment	
 Before Discount* 	 Before Discount* 	 Before Discount* 		Before Discount*		

Administrative For Twenty Three Foot Lots	
$	269.83	
$	268.93	
$	271.81	
$	
159.65	
Maintenance For Twenty Three Foot Lots	$	200.62	$	197.75	$	194.80	$	194.80	
Debt For Twenty Three Foot Lots	$	493.08	$	493.08	$	493.08	$	493.08	
Total For Twenty Three Foot Lots	$	963.53	$	959.76	$	959.69	$	847.53	
Administrative For Fifty Foot Lots	$	269.83	$	268.93	$	271.81	$	159.65	
Maintenance For Fifty Foot Lots	$	200.62	$	197.75	$	194.80	$	194.80	
Debt For Fifty Foot Lots	$	604.96	$	604.96	$	604.96	$	604.96	
Total For Fifty Foot Lots	$	1,075.41	$	1,071.64	$	1,071.57	$	959.41	

* 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