Cypress Lakes Community Development District

Final Budget For Fiscal Year 2021/2022
October 1, 2021 - September 30, 2022

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
CYPRESS LAKES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2021/2022
BUDGET	
O & M Assessments	69,281	
Debt Assessments	128,590	
Other Revenues	0	
Interest Income	120	
		
TOTAL REVENUES	$	197,991	
		
EXPENDITURES		
Supervisor Fees	4,000	
Payroll Taxes (Employer)	320	
Engineering	1,500	
Management	26,160	
Secretarial	4,200	
Legal	7,000	
Assessment Roll	6,000	
Audit Fees	3,600	
Insurance	6,100	
Legal Advertisements	1,400	
Miscellaneous	600	
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	$	69,229	
		
REVENUES LESS EXPENDITURES	$	128,762	
		
Bond Payments	(120,875)	
		
BALANCE	$	7,887	
		
County Appraiser & Tax Collector Fee	(3,957)	
Discounts For Early Payments	(7,915)	
		
EXCESS/ (SHORTFALL)	$	(3,985)	
		
Carryover From Prior Year	3,985	
		
NET EXCESS/ (SHORTFALL)	$	0	

DETAILED FINAL BUDGET
CYPRESS LAKES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2019/2020 ACTUAL	
FISCAL YEAR 2020/2021 BUDGET	
FISCAL YEAR 2021/2022 BUDGET	

COMMENTS	
O & M Assessments	66,192	70,584	69,281	Expenditures Less Interest & Carryover/.94	
Debt Assessments	131,829	127,287	128,590	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	227	120	120	Interest Projected At $10.00 Per Month	
					
TOTAL REVENUES	$	198,248	$	197,991	$	197,991		
					
EXPENDITURES					
Supervisor Fees	2,400	4,000	4,000	No Change From 2020/2021 Budget	
Payroll Taxes (Employer)	184	320	320	Projected At 8% Of Supervisor Fees	
Engineering	1,200	1,500	1,500	No Change From 2020/2021 Budget	
Management	25,224	25,800	26,160	CPI Adjustment	
Secretarial	4,200	4,200	4,200	No Change From 2020/2021 Budget	
Legal	5,070	7,000	7,000	No Change From 2020/2021 Budget	
Assessment Roll	6,000	6,000	6,000	As Per Contract	
Audit Fees	3,400	3,500	3,600	Accepted Amount For 2020/2021 Audit	
Insurance	5,251	6,000	6,100	Insurance Estimate	
Legal Advertisements	2,401	1,400	1,400	No Change From 2020/2021 Budget	
Miscellaneous	382	700	600	$100 Decrease From 2020/2021 Budget	
Postage	50	175	175	No Change From 2020/2021 Budget	
Office Supplies	120	350	350	No Change From 2020/2021 Budget	
Dues & Subscriptions	175	175	175	No Change From 2020/2021 Budget	
Trustee Fee	4,089	4,100	4,100	No Change From 2020/2021 Budget	
Continuing Disclosure Fee	1,000	1,000	1,000	No Change From 2020/2021 Budget	
Website Management	2,000	2,000	2,000	No Change From 2020/2021 Budget	
Reserve	0	549	549	Reserve	
					
TOTAL EXPENDITURES	$	63,146	$	68,769	$	69,229		
					
REVENUES LESS EXPENDITURES	$	135,102	$	129,222	$	128,762		
					
Bond Payments	(125,594)	(119,650)	(120,875)	2022 P & I Payments Less Earned Interest	
					
BALANCE	$	9,508	$	9,572	$	7,887		
					
County Appraiser & Tax Collector Fee	(1,263)	(3,957)	(3,957)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(7,479)	(7,915)	(7,915)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	766	$	(2,300)	$	(3,985)		
					
Carryover From Prior Year	0	2,300	3,985	Carryover Balance From Prior Years	
					
NET EXCESS/ (SHORTFALL)	$	766	$	-	$	0		

DETAILED FINAL DEBT SERVICE BUDGET
CYPRESS LAKES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	FISCAL YEAR 2019/2020 ACTUAL	FISCAL YEAR 2020/2021 BUDGET	FISCAL YEAR 2021/2022 BUDGET	

COMMENTS	

Interest Income	
1,206	
300	
25	
Projected Interest For 2021/2022	

NAV Tax Collection	
125,594	
119,650	
120,875	
2022 P & I Payments Less Earned Interest	

Total Revenues	
$	126,800	
$	119,950	
$	120,900		

EXPENDITURES					

Principal Payments	
70,000	
55,000	
60,000	
Principal Payment Due In 2022	

Interest Payments	
70,350	
64,950	
60,900	
Interest Payments Due In 2022	

Total Expenditures	
$	140,350	
$	119,950	
$	120,900		

Excess/ (Shortfall)	
$	(13,550)	
$	-	
$	-		

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 1/1/21 =	May 2034

$1,095,000			

Cypress Lakes Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2018/2019	2019/2020	2020/2021	2021/2022	
 	Assessment*		    Assessment* 	 	Assessment*		  Projected Assessment*	

O & M

$	635.31	$

617.91	$

659.67	$

647.49

Debt

$	1,213.96

$	1,231.36

$	1,189.60

$	1,201.78

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

6/9/2021 11:00 AM	IV