Title: CVII Proposed Budget 2020-2021.xlsx
Author: JWalker

Crestview II 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
CRESTVIEW II COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES | FISCAL YEAR 2020/2021 BUDGET
Administrative Assessments | 73,611
Maintenance Assessments | 44,415
Debt Assessments | 109,872
Interest Income | 60
TOTAL REVENUES | $	227,958
EXPENDITURES |
MAINTENANCE EXPENDITURES |
Aquatic Maintenance | 3,500
General Community Maintenance | 1,500
Lawn Maintenance | 16,000
Fountain Maintenance & Upkeep | 10,000
Electric/FPL - Fountains | 6,500
Engineering/Inspections | 1,250
Lake Bank - Erosion Control | 1,000
Maintenance/Contingency | 2,000
TOTAL MAINTENANCE EXPENDITURES | $	41,750
ADMINISTRATIVE EXPENDITURES |
Supervisor Fees | 1,875
Payroll Taxes (Employer) | 145
Management | 28,584
Secretarial & Field Operations | 5,400
Legal | 9,250
Assessment Roll | 6,000
Audit Fees | 3,600
Insurance | 6,250
Legal Advertisements | 750
Miscellaneous | 1,200
Postage | 275
Office Supplies | 400
Dues & Subscriptions | 175
Trustee Fee | 3,000
Continuing Disclosure Fee | 350
Website Management | 2,000
TOTAL ADMINISTRATIVE EXPENDITURES | $	69,254
TOTAL EXPENDITURES | $	111,004
REVENUES LESS EXPENDITURES | $	116,954
Bond Payments | (103,280)
BALANCE | $	13,674
County Appraiser & Tax Collector Fee | (4,558)
Discounts For Early Payments | (9,116)
EXCESS/ (SHORTFALL) | $	-
Carryover From Prior Year | 0
NET EXCESS/ (SHORTFALL) | $	-

2/17/2020  1:35 PM	^I

DETAILED PROPOSED BUDGET
CRESTVIEW II 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
Administrative Assessments | 64,056 | 63,258 | 73,611 | Expenditures Less Interest & Carryover/.94
Maintenance Assessments | 29,043 | 31,596 | 44,415 | Expenditures/.94
Debt Assessments | 114,533 | 112,149 | 109,872 | Bond Payments/.94
Interest Income | 96 | 60 | 60 | Interest Projected At $5 Per Month
TOTAL REVENUES | $	207,728 | $	207,063 | $	227,958 |
EXPENDITURES | | | |
MAINTENANCE EXPENDITURES | | | |
Aquatic Maintenance | 3,392 | 2,350 | 3,500 | $1,150 Increase From 2019/2020 Budget
General Community Maintenance | 0 | 900 | 1,500 | $600 Increase From 2019/2020 Budget
Lawn Maintenance | 15,188 | 13,000 | 16,000 | $3,000 Increase From 2019/2020 Budget
Fountain Maintenance & Upkeep | 5,912 | 5,000 | 10,000 | $5,000 Increase From 2019/2020 Budget
Electric/FPL - Fountains | 6,100 | 4,800 | 6,500 | $1,700 Increase From 2019/2020 Budget
Engineering/Inspections | 1,200 | 1,250 | 1,250 | No Change From 2019/2020 Budget
Lake Bank - Erosion Control | 0 | 600 | 1,000 | $400 Increase From 2019/2020 Budget
Maintenance/Contingency | 0 | 1,800 | 2,000 | $200 Increase From 2019/2020 Budget
TOTAL MAINTENANCE EXPENDITURES | $	31,792 | $	29,700 | $	41,750 |
ADMINISTRATIVE EXPENDITURES | | | |
Supervisor Fees | 900 | 1,875 | 1,875 | Supervisor Fees
Payroll Taxes (Employer) | 69 | 145 | 145 | Supervisor Fees * 7.65%
Management | 27,432 | 27,948 | 28,584 | CPI Adjustment
Secretarial & Field Operations | 5,400 | 5,400 | 5,400 | No Change From 2019/2020 Budget
Legal | 6,944 | 9,250 | 9,250 | No Change From 2019/2020 Budget
Assessment Roll | 6,000 | 6,000 | 6,000 | As Per Contract
Audit Fees | 3,600 | 3,700 | 3,600 | Accepted Amount For 2019/2020 Audit
Insurance | 5,613 | 6,500 | 6,250 | Insurance Estimate
Legal Advertisements | 640 | 500 | 750 | $250 Increase From 2019/2020 Budget
Miscellaneous | 938 | 1,200 | 1,200 | No Change From 2019/2020 Budget
Postage | 126 | 275 | 275 | No Change From 2019/2020 Budget
Office Supplies | 303 | 425 | 400 | $25 Decrease From 2019/2020 Budget
Dues & Subscriptions | 175 | 175 | 175 | No Change From 2019/2020 Budget
Trustee Fee | 3,000 | 3,000 | 3,000 | No Change From 2019/2020 Budget
Continuing Disclosure Fee | 350 | 350 | 350 | No Change From 2019/2020 Budget
Website Management | 1,500 | 2,000 | 2,000 | No Change From 2019/2020 Budget
TOTAL ADMINISTRATIVE EXPENDITURES | $	62,990 | $	68,743 | $	69,254 |
TOTAL EXPENDITURES | $	94,782 | $	98,443 | $	111,004 |
REVENUES LESS EXPENDITURES | $	112,946 | $	108,620 | $	116,954 |
Bond Payments | (109,879) | (105,420) | (103,280) | 2021 P & I Payments Less Interest
BALANCE | $	3,067 | $	3,200 | $	13,674 |
County Appraiser & Tax Collector Fee | (2,010) | (4,140) | (4,558) | Two Percent Of Total Assessment Roll
Discounts For Early Payments | (6,406) | (8,280) | (9,116) | Four Percent Of Total Assessment Roll
EXCESS/ (SHORTFALL) | $	(5,349) | $	(9,220) | $	- |
Carryover From Prior Year | 0 | 9,220 | 0 | Carryover From Prior Year
NET EXCESS/ (SHORTFALL) | $	(5,349) | $	- | $	- |

2/17/2020 1:35 PM	^II

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
CRESTVIEW II 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 | 3,249 | 100 | 100 | Projected Interest For 2020/2021
NAV Tax Collection | 109,879 | 105,420 | 103,180 | 2021 P & I Payments Less Earned Interest
Total Revenues | $	113,128 | $	105,520 | $	103,280 |
EXPENDITURES | | | |
Principal Payments | 40,000 | 40,000 | 40,000 | Principal Payments Due In 2021
Interest Payments | 68,880 | 65,520 | 63,280 | Interest Payments Due In 2021
Transfer To Construction Fund | 4,697 | 0 | 0 |
Total Expenditures | $	113,577 | $	105,520 | $	103,280 |
Excess/ (Shortfall) | $	(449) | $	- | $	- |

Series 2006 Bond Information

Original Par Amount = | $1,530,000 | Annual Principal Payments Due = | May 1st
Interest Rate = | 5.60% | Annual Interest Payments Due = | May 1st & November 1st
Issue Date = | June 2006 | |

Maturity Date =

Par Amount As Of 1/1/20 =

May 2037

$1,190,000

2/17/2020 1:35 PM	^III

Crestview II Community Development District Assessment Comparison

Fiscal Year | Fiscal Year | Fiscal Year | Fiscal Year
2017/2018 | 2018/2019 | 2019/2020 | 2020/2021
Assessment* | Assessment* | Assessment* | Projected Assessment*
Administrative | $	476.05 | $	528.63 | $	527.16 | $ | 613.43
Maintenance | $	219.86 | $	242.02 | $	263.30 | $ | 370.13
Debt | $	929.17 | $	954.43 | $	934.58 | $	915.61
Total | $	1,625.08 | $	1,725.08 | $	1,725.04 | $	1,899.17

* Assessments Include the Following :	        4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee

Community Information:		                            Total Units	120

2/17/2020 1:35 PM	^IV