Cypress Lakes 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

ASSESSMENT COMPARISON

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

REVENUES	
FISCAL YEAR 2022/2023
BUDGET	
O & M Assessments	74,371	
Debt Assessments	123,500	
Other Revenues	0	
Interest Income	120	
		
TOTAL REVENUES	$	197,991	
		
EXPENDITURES		
Supervisor Fees	4,000	
Payroll Taxes (Employer)	320	
Engineering	1,500	
Management	26,940	
Secretarial	4,200	
Legal	7,000	
Assessment Roll	6,000	
Audit Fees	3,700	
Insurance	6,100	
Legal Advertisements	1,400	
Miscellaneous	600	
Postage	150	
Office Supplies	350	
Dues & Subscriptions	175	
Trustee Fee	4,100	
Continuing Disclosure Fee	1,000	
Website Management	2,000	
Reserve	494	
		
TOTAL EXPENDITURES	$	70,029	
		
REVENUES LESS EXPENDITURES	$	127,962	
		
Bond Payments	(116,090)	
		
BALANCE	$	11,872	
		
County Appraiser & Tax Collector Fee	(3,957)	
Discounts For Early Payments	(7,915)	
		
EXCESS/ (SHORTFALL)	$	(0)	
		
Carryover From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	(0)	

DETAILED FINAL BUDGET
CYPRESS LAKES 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	
O & M Assessments	70,651	69,281	74,371	Expenditures Less Interest & Carryover/.94	
Debt Assessments	127,385	128,590	123,500	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	219	120	120	Interest Projected At $10.00 Per Month	
					
TOTAL REVENUES	$	198,255	$	197,991	$	197,991		
					
EXPENDITURES					
Supervisor Fees	2,200	4,000	4,000	No Change From 2021/2022 Budget	
Payroll Taxes (Employer)	168	320	320	Projected At 8% Of Supervisor Fees	
Engineering	2,500	1,500	1,500	No Change From 2021/2022 Budget	
Management	25,800	26,160	26,940	CPI Adjustment (Capped At 3%)	
Secretarial	4,200	4,200	4,200	No Change From 2021/2022 Budget	
Legal	6,962	7,000	7,000	No Change From 2021/2022 Budget	
Assessment Roll	6,000	6,000	6,000	As Per Contract	
Audit Fees	3,500	3,600	3,700	Accepted Amount For 2021/2022 Audit	
Insurance	5,513	6,100	6,100	Insurance Estimate	
Legal Advertisements	1,170	1,400	1,400	No Change From 2021/2022 Budget	
Miscellaneous	442	600	600	No Change From 2021/2022 Budget	
Postage	40	175	150	$25 Decrease From 2021/2022 Budget	
Office Supplies	158	350	350	No Change From 2021/2022 Budget	
Dues & Subscriptions	175	175	175	No Change From 2021/2022 Budget	
Trustee Fee	4,089	4,100	4,100	No Change From 2021/2022 Budget	
Continuing Disclosure Fee	1,000	1,000	1,000	No Change From 2021/2022 Budget	
Website Management	2,000	2,000	2,000	No Change From 2021/2022 Budget	
Reserve	0	549	494	Reserve	
					
TOTAL EXPENDITURES	$	65,917	$	69,229	$	70,029		
					
REVENUES LESS EXPENDITURES	$	132,338	$	128,762	$	127,962		
					
Bond Payments	(121,356)	(120,875)	(116,090)	2023 P & I Payments Less Earned Interest	
					
BALANCE	$	10,982	$	7,887	$	11,872		
					
County Appraiser & Tax Collector Fee	(1,455)	(3,957)	(3,957)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(7,502)	(7,915)	(7,915)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	2,025	$	(3,985)	$	(0)		
					
Carryover From Prior Year	0	3,985	0	Carryover Balance From Prior Years	
					
NET EXCESS/ (SHORTFALL)	$	2,025	$	0	$	(0)		

DETAILED FINAL DEBT SERVICE BUDGET
CYPRESS LAKES 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	
10	
25	
10	
Projected Interest For 2022/2023	

NAV Tax Collection	
121,356	
120,875	
116,090	
2023 P & I Payments Less Earned Interest	

Total Revenues	
$	121,366	
$	120,900	
$	116,100		

EXPENDITURES					

Principal Payments	
55,000	
60,000	
60,000	
Principal Payment Due In 2023	

Interest Payments	
66,300	
60,900	
56,100	
Interest Payments Due In 2023	

Extraordinary Principal Payments	
10,000	
0	
0		

Total Expenditures	
$	131,300	
$	120,900	
$	116,100		

Excess/ (Shortfall)	
$	(9,934)	
$	-	
$	-		

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 1/1/22 =	May 2034

$1,025,000		

Cypress Lakes 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*	

O & M

$	617.91	$

659.67	$

647.49	$

695.06

Debt

$	1,231.36

$	1,189.60

$	1,201.78

$	1,154.21

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

6/19/2022 1:44 PM	IV