Cypress Lakes Community Development District

Final Budget For Fiscal Year 2019/2020
October 1, 2019 - September 30, 2020

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
CYPRESS LAKES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2019/2020
BUDGET	
O & M Assessments	66,116	
Debt Assessments	131,755	
Other Revenues	0	
Interest Income	120	
		
TOTAL REVENUES	$	197,991	
		
EXPENDITURES		
Supervisor Fees	4,000	
Payroll Taxes (Employer)	320	
Engineering	1,500	
Management	25,224	
Secretarial	4,200	
Legal	7,000	
Assessment Roll	6,000	
Audit Fees	4,000	
Insurance	6,200	
Legal Advertisements	1,400	
Miscellaneous	800	
Postage	175	
Office Supplies	350	
Dues & Subscriptions	175	
Trustee Fee	4,100	
Continuing Disclosure Fee	1,000	
Website Management	2,000	
Reserve	125	
		
TOTAL EXPENDITURES	$	68,569	
		
REVENUES LESS EXPENDITURES	$	129,422	
		
Bond Payments	(123,850)	
		
BALANCE	$	5,572	
		
County Appraiser & Tax Collector Fee	(3,957)	
Discounts For Early Payments	(7,915)	
		
EXCESS/ (SHORTFALL)	$	(6,300)	
		
Carryover From Prior Year	6,300	
		
NET EXCESS/ (SHORTFALL)	$	-	

6/29/2019 3:39 PM	I

DETAILED FINAL BUDGET
CYPRESS LAKES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2017/2018 ACTUAL	
FISCAL YEAR 2018/2019 BUDGET	
FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	
O & M Assessments	70,158	67,977	66,116	Expenditures Less Interest & Carryover/.94	
Debt Assessments	127,837	129,893	131,755	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	152	120	120	Interest Projected At $10.00 Per Month	
					
TOTAL REVENUES	$	198,147	$	197,990	$	197,991		
					
EXPENDITURES					
Supervisor Fees	2,200	4,000	4,000	No Change From 2018/2019 Budget	
Payroll Taxes (Employer)	168	320	320	Projected At 8% Of Supervisor Fees	
Engineering	1,000	1,500	1,500	No Change From 2018/2019 Budget	
Management	24,252	24,756	25,224	CPI Adjustment	
Secretarial	4,200	4,200	4,200	No Change From 2018/2019 Budget	
Legal	5,980	7,000	7,000	No Change From 2018/2019 Budget	
Assessment Roll	6,000	6,000	6,000	As Per Contract	
Audit Fees	3,800	3,900	4,000	$100 Increase From 2018/2019 Budget	
Insurance	5,778	6,356	6,200	Insurance Estimate	
Legal Advertisements	753	1,400	1,400	No Change From 2018/2019 Budget	
Miscellaneous	254	900	800	$100 Decrease From 2018/2019 Budget	
Postage	58	175	175	No Change From 2018/2019 Budget	
Office Supplies	216	375	350	$25 Decrease From 2018/2019 Budget	
Dues & Subscriptions	175	175	175	No Change From 2018/2019 Budget	
Trustee Fee	3,717	4,100	4,100	Trustee (US Bank) Increased Fees In 2018/2019	
Continuing Disclosure Fee	1,000	1,000	1,000	No Change From 2018/2019 Budget	
Website Management	1,500	1,500	2,000	$500 Increase From 2018/2019 Budget	
Reserve	0	61	125	Reserve	
					
TOTAL EXPENDITURES	$	61,051	$	67,718	$	68,569		
					
REVENUES LESS EXPENDITURES	$	137,096	$	130,272	$	129,422		
					
Bond Payments	(121,600)	(122,100)	(123,850)	2020 P & I Payments Less Earned Interest	
					
BALANCE	$	15,496	$	8,172	$	5,572		
					
County Appraiser & Tax Collector Fee	(1,327)	(3,957)	(3,957)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(7,515)	(7,915)	(7,915)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	6,654	$	(3,700)	$	(6,300)		
					
Carryover From Prior Year	0	3,700	6,300	Carryover Balance From Prior Years	
					
NET EXCESS/ (SHORTFALL)	$	6,654	$	-	$	-		

6/29/2019 3:39 PM	II

DETAILED FINAL DEBT SERVICE BUDGET
CYPRESS LAKES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2017/2018 ACTUAL	FISCAL YEAR 2018/2019 BUDGET	FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	

Interest Income	
1,979	
200	
300	
Projected Interest For 2019/2020	

NAV Tax Collection	
121,600	
122,100	
123,850	
2020 P & I Payments Less Earned Interest	

Total Revenues	
$	123,579	
$	122,300	
$	124,150		

EXPENDITURES					

Principal Payments	
45,000	
50,000	
55,000	
Principal Payment Due In 2020	

Interest Payments	
76,500	
72,300	
69,150	
Interest Payments Due In 2020	

Total Expenditures	
$	121,500	
$	122,300	
$	124,150		

Excess/ (Shortfall)	
$	2,079	
$	-	
$	-		

Series 2004 Bond Information
Original Par Amount =	$1,745,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	6.00%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	August 2004			
Maturity Date =

Par Amount As Of 1/1/19 =	May 2034

$1,230,000			

6/29/2019 3:39 PM	III

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2016/2017	2017/2018	2018/2019	2019/2020	
 	Assessment*		    Assessment* 	 	Assessment*		  Projected Assessment*	

Cypress Lakes Community Development District Assessment Comparison

O & M

$	628.85	$

655.20	$

635.31	$

617.91

Debt

$	1,220.42

$	1,194.07

$	1,213.96

$	1,231.36

Total

$	1,849.27

$	1,849.27	$

1,849.27	$

1,849.27

* Assessments Include the Following :	  4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee
Community Information:		                      Total Units	107

6/29/2019 3:39 PM	IV