Title: CVII Final Budget 2023-2024.xlsx
Author: JWalker

Crestview II Community Development District

Final Budget For Fiscal Year 2023/2024
October 1, 2023 - September 30, 2024

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

FINAL BUDGET
CRESTVIEW II COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES | FISCAL YEAR 2023/2024 BUDGET
Administrative Assessments | 75,539
Maintenance Assessments | 33,777
Debt Assessments | 97,659
Interest Income | 120
TOTAL REVENUES | $	207,095
EXPENDITURES |
MAINTENANCE EXPENDITURES |
Aquatic Maintenance | 3,500
General Community Maintenance | 500
Lawn Maintenance | 14,000
Fountain Maintenance & Upkeep | 5,400
Electric/FPL - Fountains | 6,300
Engineering/Inspections | 1,250
Lake Bank - Erosion Control | 300
Maintenance/Contingency | 500
TOTAL MAINTENANCE EXPENDITURES | $	31,750
ADMINISTRATIVE EXPENDITURES |
Supervisor Fees | 1,875
Payroll Taxes (Employer) | 145
Management | 30,732
Secretarial & Field Operations | 5,400
Legal | 9,250
Assessment Roll | 6,000
Audit Fees | 3,900
Insurance | 7,300
Legal Advertisements | 750
Miscellaneous | 1,000
Postage | 250
Office Supplies | 350
Dues & Subscriptions | 175
Trustee Fee | 3,500
Continuing Disclosure Fee | 350
Website Management | 2,000
TOTAL ADMINISTRATIVE EXPENDITURES | $	72,977
TOTAL EXPENDITURES | $	104,727
REVENUES LESS EXPENDITURES | $	102,368
Bond Payments | (91,800)
BALANCE | $	10,568
County Appraiser & Tax Collector Fee | (4,139)
Discounts For Early Payments | (8,279)
EXCESS/ (SHORTFALL) | $	(1,850)
Carryover From Prior Year | 1,850
NET EXCESS/ (SHORTFALL) | $	-

6/14/2023 8:11 AM	^I

DETAILED FINAL BUDGET
CRESTVIEW II COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES | FISCAL YEAR 2021/2022 ACTUAL | FISCAL YEAR 2022/2023 BUDGET | FISCAL YEAR 2023/2024 BUDGET | COMMENTS
Administrative Assessments | 74,605 | 74,179 | 75,539 | Expenditures Less Interest & Carryover/.94
Maintenance Assessments | 35,149 | 35,149 | 33,777 | Expenditures/.94
Debt Assessments | 97,660 | 97,659 | 97,659 | Bond Payments/.94
Interest Income | 88 | 60 | 120 | Interest Projected At $10 Per Month
TOTAL REVENUES | $	207,502 | $	207,047 | $	207,095 |
EXPENDITURES | | | |
MAINTENANCE EXPENDITURES | | | |
Aquatic Maintenance | 3,451 | 3,500 | 3,500 | No Change From 2022/2023 Budget
General Community Maintenance | 0 | 500 | 500 | No Change From 2022/2023 Budget
Lawn Maintenance | 14,350 | 14,000 | 14,000 | No Change From 2022/2023 Budget
Fountain Maintenance & Upkeep | 0 | 6,400 | 5,400 | $1,000 Decrease From 2022/2023 Budget
Electric/FPL - Fountains | 4,510 | 6,300 | 6,300 | No Change From 2022/2023 Budget
Engineering/Inspections | 1,575 | 1,250 | 1,250 | No Change From 2022/2023 Budget
Lake Bank - Erosion Control | 0 | 300 | 300 | No Change From 2022/2023 Budget
Maintenance/Contingency | 6,847 | 790 | 500 | Maintenance/Contingency
TOTAL MAINTENANCE EXPENDITURES | $	30,733 | $	33,040 | $	31,750 |
ADMINISTRATIVE EXPENDITURES | | | |
Supervisor Fees | 750 | 1,875 | 1,875 | Supervisor Fees
Payroll Taxes (Employer) | 57 | 145 | 145 | Supervisor Fees * 7.65%
Management | 28,980 | 29,844 | 30,732 | CPI Adjustment (Capped At 3%)
Secretarial & Field Operations | 5,400 | 5,400 | 5,400 | No Change From 2022/2023 Budget
Legal | 8,378 | 9,250 | 9,250 | No Change From 2022/2023 Budget
Assessment Roll | 6,000 | 6,000 | 6,000 | As Per Contract
Audit Fees | 3,700 | 3,800 | 3,900 | Accepted Amount For 2022/2023 Audit
Insurance | 6,426 | 6,900 | 7,300 | Fiscal Year 2022/2023 Expenditure Was $6,924
Legal Advertisements | 554 | 750 | 750 | No Change From 2022/2023 Budget
Miscellaneous | 815 | 1,000 | 1,000 | No Change From 2022/2023 Budget
Postage | 182 | 275 | 250 | $25 Decrease From 2022/2023 Budget
Office Supplies | 240 | 375 | 350 | $25 Decrease From 2022/2023 Budget
Dues & Subscriptions | 175 | 175 | 175 | No Change From 2022/2023 Budget
Trustee Fee | 3,500 | 3,000 | 3,500 | $500 Increase From 2022/2023 Budget
Continuing Disclosure Fee | 350 | 350 | 350 | No Change From 2022/2023 Budget
Website Management | 2,000 | 2,000 | 2,000 | No Change From 2022/2023 Budget
TOTAL ADMINISTRATIVE EXPENDITURES | $	67,507 | $	71,139 | $	72,977 |
TOTAL EXPENDITURES | $	98,240 | $	104,179 | $	104,727 |
REVENUES LESS EXPENDITURES | $	109,262 | $	102,868 | $	102,368 |
Bond Payments | (93,163) | (91,800) | (91,800) | 2024 Principal & Interest Payments
BALANCE | $	16,099 | $	11,068 | $	10,568 |
County Appraiser & Tax Collector Fee | (1,999) | (4,139) | (4,139) | Two Percent Of Total Assessment Roll
Discounts For Early Payments | (7,539) | (8,279) | (8,279) | Four Percent Of Total Assessment Roll
EXCESS/ (SHORTFALL) | $	6,561 | $	(1,350) | $	(1,850) |
Carryover From Prior Year | 0 | 1,350 | 1,850 | Carryover From Prior Year
NET EXCESS/ (SHORTFALL) | $	6,561 | $	- | $	- |

6/14/2023 8:11 AM	^II

DETAILED FINAL DEBT SERVICE FUND BUDGET
CRESTVIEW II COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES | FISCAL YEAR 2021/2022 ACTUAL | FISCAL YEAR 2022/2023 BUDGET | FISCAL YEAR 2023/2024 BUDGET | COMMENTS
Interest Income | 222 | 10 | 100 | Projected Interest For 2023/2024
NAV Tax Collection | 93,163 | 91,800 | 91,800 | Maximum Debt Service Collection
Total Revenues | $	93,385 | $	91,810 | $	91,900 |
EXPENDITURES | | | |
Principal Payments | 51,000 | 50,000 | 54,000 | Principal Payments Due In 2024
Interest Payments | 39,240 | 37,340 | 36,040 | Interest Payments Due In 2024
Bond Redemption | 0 | 4,470 | 1,860 | Estimated Excess Debt Collections
Total Expenditures | $	90,240 | $	91,810 | $	91,900 |
Excess/ (Shortfall) | $	3,145 | $	- | $	- |

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 1/1/23 =

May 2037

$1,008,000

6/14/2023 8:11 AM	^III

Crestview II Community Development District Assessment Comparison

Fiscal Year | Fiscal Year | Fiscal Year | Fiscal Year
2020/2021 | 2021/2022 | 2022/2023 | 2023/2024
Assessment* | Assessment* | Assessment* | Projected Assessment*
Administrative | $	529.21 | $	618.26 | $	618.17 | $ | 629.50
Maintenance | $	280.22 | $	292.91 | $	292.91 | $ | 281.48
Debt | $	915.61 | $	813.83 | $	813.83 | $	813.83
Total | $	1,725.04 | $	1,725.00 | $	1,724.91 | $	1,724.81

* Assessments Include the Following :	 4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee
Community Information:		 Total Units	120

6/14/2023 8:11 AM	^IV