Meadow Pines Community Development District

Final Budget For Fiscal Year 2020/2021
October 1, 2020 - September 30, 2021

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
MEADOW PINES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2020/2021 BUDGET	
O&M Assessments	49,910	
Debt Assessments	691,982	
Other Revenue	1,000	
Interest Income	240	
		
TOTAL REVENUES	$	743,132	
		
EXPENDITURES		
Supervisor Fees	2,400	
Payroll Taxes	200	
Engineering	3,000	
Management	14,208	
Legal	8,000	
Assessment Roll	6,000	
Audit Fees	3,700	
Arbitrage Rebate Fee	600	
Insurance	7,000	
Legal Advertisements	700	
Miscellaneous	850	
Postage	150	
Office Supplies	550	
Dues & Subscriptions	175	
Trustee Fees	6,820	
Continuing Disclosure Fee	1,000	
Website Management	2,000	
Reserve	2,677	
		
TOTAL EXPENDITURES	$	60,030	
		
REVENUES LESS EXPENDITURES	$	683,102	
		
Bond Payments	(650,463)	
		
BALANCE	$	32,639	
		
County Appraiser & Tax Collector Fee	(14,838)	
Discounts For Early Payments	(29,676)	
		
EXCESS/ (SHORTFALL)	$	(11,875)	
		
Carryover From Prior Year	11,875	
		
NET EXCESS / (SHORTFALL)	$	-	

I

6/10/2020 9:00 AM

DETAILED FINAL BUDGET
MEADOW PINES 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	
O&M Assessments	51,528	49,910	49,910	Expenditures Less Interest, Other Revenues & Carryover/.94	
Debt Assessments	695,132	691,982	691,982	Bond Payments/.94	
Other Revenue	1,175	1,000	1,000	Pollution Insurance Reimbursement	
Interest Income	218	300	240	Projected At $20 Per Month	
					
TOTAL REVENUES	$	748,053	$	743,192	$	743,132		
					
EXPENDITURES					
Supervisor Fees	1,000	2,400	2,400	No Change From 2019/2020 Budget	
Payroll Taxes	137	200	200	Projected At 8 Percent Of Supervisor Fees	
Engineering	3,000	2,250	3,000	$750 Increase From 2019/2020 Budget	
Management	13,644	13,896	14,208	CPI Adjustment	
Legal	6,525	9,000	8,000	$1,000 Decrease From 2019/2020 Budget	
Assessment Roll	6,000	6,000	6,000	As Per Contract	
Audit Fees	3,500	3,600	3,700	$100 Increase From 2019/2020 Budget	
Arbitrage Rebate Fee	600	600	600	No Change From 2019/2020 Budget	
Insurance	5,175	7,300	7,000	Insurance Estimate	
Legal Advertisements	381	950	700	$250 Decrease From 2019/2020 Budget	
Miscellaneous	427	900	850	$50 Decrease From 2019/2020 Budget	
Postage	94	275	150	$125 Decrease From 2019/2020 Budget	
Office Supplies	227	550	550	No Change From 2019/2020 Budget	
Dues & Subscriptions	175	175	175	No Change From 2019/2020 Budget	
Trustee Fees	6,815	6,820	6,820	No Change From 2019/2020 Budget	
Continuing Disclosure Fee	1,000	1,000	1,000	No Change From 2019/2020 Budget	
Website Management	1,500	2,000	2,000	No Change From 2019/2020 Budget	
Reserve	1,000	2,799	2,677	Reserve	
					
TOTAL EXPENDITURES	$	51,200	$	60,715	$	60,030		
					
REVENUES LESS EXPENDITURES	$	696,853	$	682,477	$	683,102		
					
Bond Payments	(655,926)	(650,463)	(650,463)	2021 P & I Payments Less Earned Interest	
					
BALANCE	$	40,927	$	32,014	$	32,639		
					
County Appraiser & Tax Collector Fee	(15,947)	(14,838)	(14,838)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(26,103)	(29,676)	(29,676)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	(1,123)	$	(12,500)	$	(11,875)		
					
Carryover From Prior Year	0	12,500	11,875	Carryover From Prior Year	

NET EXCESS / (SHORTFALL)	
$	(1,123)	
$	-	
$	-		

II

6/10/2020 9:00 AM

DETAILED FINAL DEBT SERVICE BUDGET
MEADOW PINES 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	
12,803	
100	
500	
Projected Interest For 2020/2021	

NAV Tax Collection	
655,926	
650,463	
650,463	
Maximum Debt Service Collection	

Total Revenues	
$	668,729	
$	650,563	
$	650,963		

EXPENDITURES					

Principal Payments (2014A-1)	
280,000	
285,000	
295,000	
Principal Payment Due In 2021	

Principal Payments (2014A-B)	
50,000	
50,000	
55,000	
Principal Payment Due In 2021	

Bond Redemption	
0	
6,315	
4,024	
Estimated Excess Debt Collections	

Interest Payments (2014A-1)	
252,915	
241,360	
232,070	
Interest Payments Due In 2021	

Interest Payments (2014A-B)	
72,200	
67,888	
64,869	
Interest Payments Due In 2021	

TOTAL EXPENDITURES	
$	655,115	
$	650,563	
$	650,963		

EXCESS/ (SHORTFALL)	
$	13,614	
$	-	
$	-		

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 1/1/20 =	$5,780,000			

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 1/1/20=	$1,170,000			

6/10/2020 9:00 AM	III

Meadow Pines Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2016/2017	2017/2018	2018/2019	2019/2020	2020/2021	
Assessment	Assessment	Assessment	Assessment	Projected Assessment	
Before Discount*	Before Discount*	Before Discount*	Before Discount*	Before Discount*	

O&M Assessment For Phase 1	
$	
74.49	
$	
64.49	
$	
64.49	
$	
64.49	
$	
64.49	
Debt Assessment For Phase 1	$	834.02	$	834.02	$	834.02	$	834.02	$	834.02	
Total For Phase 1	$	908.51	$	898.51	$	898.51	$	898.51	$	898.51	

O&M Assessment For Phase 2	
$	74.49	
$	64.49	
$	64.49	
$	64.49	
$	
64.49	
Debt Assessment For Phase 2	$	964.50	$	964.50	$	964.50	$	964.50	$	964.50	
Total For Phase 2	$	1,038.99	$	1,028.99	$	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	

6/10/2020 9:00 AM	IV