Crestview II Community Development District

Proposed Budget For Fiscal Year 2022/2023
October 1, 2022 - September 30, 2023

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

PROPOSED BUDGET
CRESTVIEW II COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2022/2023 BUDGET	
Administrative Assessments	74,179	
Maintenance Assessments	35,149	
Debt Assessments	97,659	
Interest Income	60	
TOTAL REVENUES	$	207,047	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
Aquatic Maintenance	3,500	
General Community Maintenance	500	
Lawn Maintenance	14,000	
Fountain Maintenance & Upkeep	6,400	
Electric/FPL - Fountains	6,300	
Engineering/Inspections	1,250	
Lake Bank - Erosion Control	300	
Maintenance/Contingency	790	
TOTAL MAINTENANCE EXPENDITURES	$	33,040	
		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	1,875	
Payroll Taxes (Employer)	145	
Management	29,844	
Secretarial & Field Operations	5,400	
Legal	9,250	
Assessment Roll	6,000	
Audit Fees	3,800	
Insurance	6,900	
Legal Advertisements	750	
Miscellaneous	1,000	
Postage	275	
Office Supplies	375	
Dues & Subscriptions	175	
Trustee Fee	3,000	
Continuing Disclosure Fee	350	
Website Management	2,000	
TOTAL ADMINISTRATIVE EXPENDITURES	$	71,139	
		
TOTAL EXPENDITURES	$	104,179	
		
REVENUES LESS EXPENDITURES	$	102,868	
		
Bond Payments	(91,800)	
		
BALANCE	$	11,068	
		
County Appraiser & Tax Collector Fee	(4,139)	
Discounts For Early Payments	(8,279)	
		
EXCESS/ (SHORTFALL)	$	(1,350)	
		
Carryover From Prior Year	1,350	
		
NET EXCESS/ (SHORTFALL)	$	-	

3/14/2022 10:29 AM	I

DETAILED PROPOSED BUDGET
CRESTVIEW II 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	
Administrative Assessments	63,988	74,191	74,179	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	33,625	35,149	35,149	Expenditures/.94	
Debt Assessments	109,872	97,659	97,659	Bond Payments/.94	
Interest Income	88	60	60	Interest Projected At $5 Per Month	
TOTAL REVENUES	$	207,573	$	207,059	$	207,047		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
Aquatic Maintenance	6,984	3,500	3,500	No Change From 2021/2022 Budget	
General Community Maintenance	575	500	500	No Change From 2021/2022 Budget	
Lawn Maintenance	16,299	14,000	14,000	No Change From 2021/2022 Budget	
Fountain Maintenance & Upkeep	366	6,400	6,400	No Change From 2021/2022 Budget	
Electric/FPL - Fountains	3,912	6,300	6,300	No Change From 2021/2022 Budget	
Engineering/Inspections	975	1,250	1,250	No Change From 2021/2022 Budget	
Lake Bank - Erosion Control	0	300	300	No Change From 2021/2022 Budget	
Maintenance/Contingency	0	790	790	No Change From 2021/2022 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	29,111	$	33,040	$	33,040		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	975	1,875	1,875	Supervisor Fees	
Payroll Taxes (Employer)	75	145	145	Supervisor Fees * 7.65%	
Management	28,584	28,980	29,844	CPI Adjustment (Capped At 3%)	
Secretarial & Field Operations	5,400	5,400	5,400	No Change From 2021/2022 Budget	
Legal	6,756	9,250	9,250	No Change From 2021/2022 Budget	
Assessment Roll	6,000	6,000	6,000	As Per Contract	
Audit Fees	3,600	3,700	3,800	Accepted Amount For 2021/2022 Audit	
Insurance	6,207	6,500	6,900	Insurance Estimate	
Legal Advertisements	470	750	750	No Change From 2021/2022 Budget	
Miscellaneous	741	1,000	1,000	No Change From 2021/2022 Budget	
Postage	154	275	275	No Change From 2021/2022 Budget	
Office Supplies	113	400	375	$25 Decrease From 2021/2022 Budget	
Dues & Subscriptions	175	175	175	No Change From 2021/2022 Budget	
Trustee Fee	0	3,000	3,000	No Change From 2021/2022 Budget	
Continuing Disclosure Fee	350	350	350	No Change From 2021/2022 Budget	
Website Management	2,000	2,000	2,000	No Change From 2021/2022 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	61,600	$	69,800	$	71,139		
					
TOTAL EXPENDITURES	$	90,711	$	102,840	$	104,179		
					
REVENUES LESS EXPENDITURES	$	116,862	$	104,219	$	102,868		
					
Bond Payments	(104,888)	(91,800)	(91,800)	2023 P & I Payments Less Interest	
					
BALANCE	$	11,974	$	12,419	$	11,068		
					
County Appraiser & Tax Collector Fee	(2,001)	(4,139)	(4,139)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(7,395)	(8,280)	(8,279)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	2,578	$	-	$	(1,350)		
					
Carryover From Prior Year	0	0	1,350	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	2,578	$	-	$	-		

3/14/2022 10:29 AM	II

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
CRESTVIEW II 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	
8	
25	
10	
Projected Interest For 2022/2023	

NAV Tax Collection	
104,888	
91,800	
91,800	
Maximum Debt Service Collection	

Total Revenues	
$	104,896	
$	91,825	
$	91,810		

EXPENDITURES					

Principal Payments	
46,000	
51,000	
50,000	
Principal Payments Due In 2023	

Interest Payments	
22,102	
38,603	
37,340	
Interest Payments Due In 2023	

Bond Redemption	
0	
2,222	
4,470	
Estimated Excess Debt Collections	

Transfer To Construction Fund	
0	
-	
-		

Total Expenditures	
$	68,102	
$	91,825	
$	91,810		

Excess/ (Shortfall)	
$	36,794	
$	-	
$	-		

Series 2020 Bond Refunding Information

Original Par Amount =	$1,105,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	2.5% - 4%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	October 2020			
Maturity Date =

Par Amount As Of 1/1/22 =	May 2037

$1,059,000			

3/14/2022 10:29 AM	III

Crestview II 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*		

Administrative	
$	527.16	
$	529.21	
$	618.26	
$	
618.17	
Maintenance	$	263.30	$	280.22	$	292.91	$	292.91	
Debt	$	934.58	$	915.61	$	813.83	$	813.83	
Total	$	1,725.04	$	1,725.04	$	1,725.00	$	1,724.91	

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

Community Information:		 Total Units	120

3/14/2022 10:29 AM	IV