Cypress Lakes Community Development District

Proposed Budget For Fiscal Year 2020/2021
October 1, 2020 - September 30, 2021

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

PROPOSED BUDGET
CYPRESS LAKES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2020/2021
BUDGET	
O & M Assessments	70,584	
Debt Assessments	127,287	
Other Revenues	0	
Interest Income	120	
		
TOTAL REVENUES	$	197,991	
		
EXPENDITURES		
Supervisor Fees	4,000	
Payroll Taxes (Employer)	320	
Engineering	1,500	
Management	25,800	
Secretarial	4,200	
Legal	7,000	
Assessment Roll	6,000	
Audit Fees	3,500	
Insurance	6,000	
Legal Advertisements	1,400	
Miscellaneous	700	
Postage	175	
Office Supplies	350	
Dues & Subscriptions	175	
Trustee Fee	4,100	
Continuing Disclosure Fee	1,000	
Website Management	2,000	
Reserve	549	
		
TOTAL EXPENDITURES	$	68,769	
		
REVENUES LESS EXPENDITURES	$	129,222	
		
Bond Payments	(119,650)	
		
BALANCE	$	9,572	
		
County Appraiser & Tax Collector Fee	(3,957)	
Discounts For Early Payments	(7,915)	
		
EXCESS/ (SHORTFALL)	$	(2,300)	
		
Carryover From Prior Year	2,300	
		
NET EXCESS/ (SHORTFALL)	$	-	

5/13/2020 5:14 PM	I

DETAILED PROPOSED BUDGET
CYPRESS LAKES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2018/2019 ACTUAL	
FISCAL YEAR 2019/2020 BUDGET	
FISCAL YEAR 2020/2021 BUDGET	

COMMENTS	
O & M Assessments	68,060	66,116	70,584	Expenditures Less Interest & Carryover/.94	
Debt Assessments	129,975	131,755	127,287	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	172	120	120	Interest Projected At $10.00 Per Month	
					
TOTAL REVENUES	$	198,207	$	197,991	$	197,991		
					
EXPENDITURES					
Supervisor Fees	2,000	4,000	4,000	No Change From 2019/2020 Budget	
Payroll Taxes (Employer)	153	320	320	Projected At 8% Of Supervisor Fees	
Engineering	1,000	1,500	1,500	No Change From 2019/2020 Budget	
Management	24,756	25,224	25,800	CPI Adjustment	
Secretarial	4,200	4,200	4,200	No Change From 2019/2020 Budget	
Legal	6,432	7,000	7,000	No Change From 2019/2020 Budget	
Assessment Roll	6,000	6,000	6,000	As Per Contract	
Audit Fees	3,900	4,000	3,500	Accepted Amount For 2019/2020 Audit	
Insurance	5,000	6,200	6,000	Insurance Estimate	
Legal Advertisements	1,452	1,400	1,400	No Change From 2019/2020 Budget	
Miscellaneous	328	800	700	$100 Decrease From 2019/2020 Budget	
Postage	50	175	175	No Change From 2019/2020 Budget	
Office Supplies	221	350	350	No Change From 2019/2020 Budget	
Dues & Subscriptions	175	175	175	No Change From 2019/2020 Budget	
Trustee Fee	4,089	4,100	4,100	No Change From 2019/2020 Budget	
Continuing Disclosure Fee	1,000	1,000	1,000	No Change From 2019/2020 Budget	
Website Management	1,500	2,000	2,000	No Change From 2019/2020 Budget	
Reserve	0	125	549	Reserve	
					
TOTAL EXPENDITURES	$	62,256	$	68,569	$	68,769		
					
REVENUES LESS EXPENDITURES	$	135,951	$	129,422	$	129,222		
					
Bond Payments	(123,849)	(123,850)	(119,650)	2021 P & I Payments Less Earned Interest	
					
BALANCE	$	12,102	$	5,572	$	9,572		
					
County Appraiser & Tax Collector Fee	(1,246)	(3,957)	(3,957)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(7,446)	(7,915)	(7,915)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	3,410	$	(6,300)	$	(2,300)		
					
Carryover From Prior Year	0	6,300	2,300	Carryover Balance From Prior Years	
					
NET EXCESS/ (SHORTFALL)	$	3,410	$	-	$	-		

5/13/2020 5:14 PM	II

DETAILED PROPOSED DEBT SERVICE BUDGET
CYPRESS LAKES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2018/2019 ACTUAL	FISCAL YEAR 2019/2020 BUDGET	FISCAL YEAR 2020/2021 BUDGET	

COMMENTS	

Interest Income	
3,465	
300	
300	
Projected Interest For 2020/2021	

NAV Tax Collection	
123,849	
123,850	
119,650	
2021 P & I Payments Less Earned Interest	

Total Revenues	
$	127,314	
$	124,150	
$	119,950		

EXPENDITURES					

Principal Payments	
50,000	
55,000	
55,000	
Principal Payment Due In 2021	

Interest Payments	
73,800	
69,150	
64,950	
Interest Payments Due In 2021	

Total Expenditures	
$	123,800	
$	124,150	
$	119,950		

Excess/ (Shortfall)	
$	3,514	
$	-	
$	-		

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 1/1/20 =	May 2034

$1,165,000			

5/13/2020 5:14 PM	III

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2017/2018	2018/2019	2019/2020	2020/2021	
 	Assessment*		    Assessment* 	 	Assessment*		  Projected Assessment*	

Cypress Lakes Community Development District Assessment Comparison

O & M

$	655.20	$

635.31	$

617.91	$

659.67

Debt

$	1,194.07

$	1,213.96

$	1,231.36

$	1,189.60

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

5/13/2020 5:14 PM	IV