Meadow Pines Community Development District

Proposed Budget For Fiscal Year 2019/2020
October 1, 2019 - September 30, 2020

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

PROPOSED BUDGET
MEADOW PINES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2019/2020 BUDGET	
O&M Assessments	49,910	
Debt Assessments	691,982	
Other Revenue	1,000	
Interest Income	300	
		
TOTAL REVENUES	$		743,192	
		
EXPENDITURES		
Supervisor Fees	2,400	
Payroll Taxes	200	
Engineering	2,250	
Management	13,896	
Legal	9,000	
Assessment Roll	6,000	
Audit Fees	3,600	
Arbitrage Rebate Fee	600	
Insurance	7,300	
Legal  Advertisements	950	
Miscellaneous	900	
Postage	275	
Office Supplies	550	
Dues & Subscriptions	175	
Trustee Fees	6,820	
Continuing Disclosure Fee	1,000	
Website  Management	2,000	
Reserve	2,799	
		
TOTAL  EXPENDITURES	$		60,715	
		
REVENUES LESS EXPENDITURES	$		682,477	
		
Bond Payments	(650,463)	
		
BALANCE	$		32,014	
		
County Appraiser & Tax Collector Fee	(14,838)	
Discounts For Early Payments	(29,676)	
		
EXCESS/  (SHORTFALL)	$		(12,500)	
		
Carryover From Prior Year	12,500	

NET EXCESS / (SHORTFALL)	
$		
-	

DETAILED PROPOSED BUDGET
MEADOW PINES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2017/2018 ACTUAL	
FISCAL YEAR 2018/2019 BUDGET	
FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	
O&M Assessments	51,492	49,910	49,910	Expenditures Less Interest, Other Revenues & Carryover/.94	
Debt Assessments	695,979	691,982	691,982	Bond Payments/.94	
Other Revenue	85	1,200	1,000	Pollution Insurance Reimbursement	
Interest Income	272	300	300	Projected At $25 Per Month	
					
TOTAL REVENUES	$	747,828	$	743,392	$	743,192		
					
EXPENDITURES					
Supervisor Fees	200	2,400	2,400	No Change From 2018/2019 Budget	
Payroll Taxes	15	200	200	Projected At 8 Percent Of Supervisor Fees	
Engineering	1,500	2,500	2,250	$250 Decrease From 2018/2019 Budget	
Management	13,368	13,644	13,896	CPI Adjustment	
Legal	7,338	9,000	9,000	No Change From 2018/2019 Budget	
Assessment Roll	6,000	6,000	6,000	As Per Contract	
Audit Fees	3,400	3,500	3,600	Accepted Amount For 2018/2019 Audit	
Arbitrage Rebate Fee	600	600	600	No Change From 2018/2019 Budget	
Insurance	5,863	7,500	7,300	Insurance Estimate	
Legal Advertisements	427	1,000	950	$50 Decrease From 2018/2019 Budget	
Miscellaneous	352	900	900	No Change From 2018/2019 Budget	
Postage	125	275	275	No Change From 2018/2019 Budget	
Office Supplies	311	575	550	$25 Decrease From 2018/2019 Budget	
Dues & Subscriptions	175	175	175	No Change From 2018/2019 Budget	
Trustee Fees	6,195	6,820	6,820	Trustee (US Bank) Increased Fees In 2018/2019	
Continuing Disclosure Fee	1,000	1,000	1,000	No Change From 2018/2019 Budget	
Website Management	1,500	1,500	2,000	$500 Increase From 2018/2019 Budget	
Reserve	14,679	3,326	2,799	Reserve	
					
TOTAL EXPENDITURES	$	63,048	$	60,915	$	60,715		
					
REVENUES LESS EXPENDITURES	$	684,780	$	682,477	$	682,477		
					
Bond Payments	(656,321)	(650,463)	(650,463)	2020 P & I Payments Less Earned Interest	
					
BALANCE	$	28,459	$	32,014	$	32,014		
					
County Appraiser & Tax Collector Fee	(15,959)	(14,838)	(14,838)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(26,580)	(29,676)	(29,676)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	(14,080)	$	(12,500)	$	(12,500)		
					
Carryover From Prior Year	0	12,500	12,500	Carryover From Prior Year	

NET EXCESS / (SHORTFALL)	
$	(14,080)	
$	-	
$	-		

DETAILED PROPOSED DEBT SERVICE BUDGET
MEADOW PINES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2017/2018 ACTUAL	FISCAL YEAR 2018/2019 BUDGET	FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	

Interest Income	
6,706	
50	
100	
Projected Interest For 2019/2020	

NAV Tax Collection	
656,321	
650,463	
650,463	
Maximum Debt Service Collection	

Total Revenues	
$	
663,027	
$	
650,513	
$	
650,563		

EXPENDITURES					

Principal Payments (2014A-1)	
275,000	
280,000	
285,000	
Principal Payment Due In 2020	

Principal Payments (2014A-B)	
45,000	
50,000	
50,000	
Principal Payment Due In 2020	

Bond Redemption	
0	
475	
6,315	
Estimated Excess Debt Collections	

Interest Payments (2014A-1)	
258,965	
249,275	
241,360	
Interest Payments Due In 2020	

Interest Payments (2014A-B)	
74,788	
70,763	
67,888	
Interest Payments Due In 2020	

TOTAL  EXPENDITURES	
$	
653,753	
$	
650,513	
$	
650,563		

EXCESS/ (SHORTFALL)	
$	
9,274	
$	
-	
$	
-		

Series 2014A-1 Bond Refunding Information	
Original Par Amount =	$7,125,000	Annual Principal Payments Due =	May 1st	
Interest Rate = Issue Date = Maturity Date =	1.05% - 4.625%
May 2014
May 2034	Annual Interest Payments Due =	May 1st & November 1st	
Par Amount As Of 1/1/19 =	$6,060,000			

Series 2014A-2 Bond Refunding Information	
Original Par Amount =	$1,385,000	Annual Principal Payments Due =	May 1st	
Interest Rate = Issue Date = Maturity Date =	5.75% - 6.00%
May 2014
May 2034	Annual Interest Payments Due =	May 1st & November 1st	
Par Amount As Of 1/1/19 =	$1,220,000			

Meadow Pines Community Development District Assessment  Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year
2016/2017	2017/2018	2018/2019	2019/2020
Assessment	Assessment	Assessment	Projected Assessment
Before Discount*	Before Discount*	Before Discount*	Before Discount*

Administrative For Phase 1	

$	

74.49	

$	

64.49	

$	

64.49	

$	

64.49	
Debt For Phase 1	$ 	834.02	$ 	834.02	$ 	834.02	$ 	834.02	
Total For Phase 1	$	908.51	$	898.51	$	898.51	$	898.51	

Administrative For Phase 2	
$	
74.49	
$	
64.49	
$	
64.49	
$	
64.49	
Debt For Phase 2	$ 	964.50	$ 	964.50	$ 	964.50	$ 	964.50	
Total For Phase 2	$	1,038.99	$	1,028.99	$	1,028.99	$	1,028.99	

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

Community Information: 		
Phase One	418	
Phase Two	356	
Total Units	774