Meadow Pines Community Development District

Proposed Budget For Fiscal Year 2024/2025
October 1, 2024 - September 30, 2025

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

PROPOSED BUDGET
MEADOW PINES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	
FISCAL YEAR 2024/2025 BUDGET	
O&M Assessments	96,156	
Debt Assessments	690,183	
Other Revenue	200	
Interest Income	600	
		
TOTAL REVENUES	$	787,139	
		
EXPENDITURES		
Supervisor Fees	2,400	
Payroll Taxes	200	
Engineering	5,000	
Management	15,732	
Legal	8,500	
Assessment Roll	6,000	
Audit Fees	3,600	
Arbitrage Rebate Fee	600	
Insurance	7,300	
Legal Advertisements	1,700	
Miscellaneous	550	
Postage	150	
Office Supplies	250	
Dues & Subscriptions	175	
Trustee Fees	7,200	
Continuing Disclosure Fee	1,000	
Website Management	2,000	
Stormwater Management	20,000	
Perimeter Fence Repairs	5,230	
Miscellaneous Maintenance	2,500	
Reserve	1,100	
TOTAL EXPENDITURES	$	91,187	
		
REVENUES LESS EXPENDITURES	$	695,952	
		
Bond Payments	(648,772)	
		
BALANCE	$	47,180	
		
County Appraiser & Tax Collector Fee	(15,726)	
Discounts For Early Payments	(31,454)	
		
EXCESS/ (SHORTFALL)	$	-	
		
Carryover From Prior Year	0	
		
NET EXCESS / (SHORTFALL)	$	-	

I

2/6/2024 4:26 PM

DETAILED PROPOSED BUDGET
MEADOW PINES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	
FISCAL YEAR 2022/2023 ACTUAL	
FISCAL YEAR 2023/2024 BUDGET	
FISCAL YEAR 2024/2025 BUDGET	

COMMENTS	
O&M Assessments	98,233	96,348	96,156	Expenditures Less Interest, Other Revenues & Carryover/.94	
Debt Assessments	693,560	690,183	690,183	Bond Payments/.94	
Other Revenue	177	200	200	Pollution Insurance Reimbursement	
Interest Income	3,572	240	600	Projected At $50 Per Month	
					
TOTAL REVENUES	$	795,542	$	786,971	$	787,139		
					
EXPENDITURES					
Supervisor Fees	1,400	2,400	2,400	No Change From 2023/2024 Budget	
Payroll Taxes	107	200	200	Projected At 8 Percent Of Supervisor Fees	
Engineering	0	5,000	5,000	No Change From 2023/2024 Budget	
Management	14,832	15,276	15,732	CPI Adjustment (Capped At 3%)	
Legal	7,371	8,500	8,500	No Change From 2023/2024 Budget	
Assessment Roll	6,000	6,000	6,000	As Per Contract	
Audit Fees	3,400	3,500	3,600	Accepted Amount For 2023/2024 Audit	
Arbitrage Rebate Fee	600	600	600	No Change From 2023/2024 Budget	
Insurance	6,311	6,700	7,300	Fiscal Year 2023/2024 Expenditure Was $6,773	
Legal Advertisements	498	700	1,700	Costs Will Increase Due To Closing Of The Daily Business Review	
Miscellaneous	756	550	550	No Change From 2023/2024 Budget	
Postage	276	150	150	No Change From 2023/2024 Budget	
Office Supplies	183	250	250	No Change From 2023/2024 Budget	
Dues & Subscriptions	175	175	175	No Change From 2023/2024 Budget	
Trustee Fees	6,815	7,200	7,200	No Change From 2023/2024 Budget	
Continuing Disclosure Fee	1,000	1,000	1,000	No Change From 2023/2024 Budget	
Website Management	2,000	2,000	2,000	No Change From 2023/2024 Budget	
Stormwater Management	15,180	20,000	20,000	$1,000 Decrease From 2023/2024 Budget	
Perimeter Fence Repairs	0	5,230	5,230	No Change From 2023/2024 Budget	
Miscellaneous Maintenance	5,000	2,500	2,500	Drainage Structures & Catch Basin Maintenance	
Reserve	0	3,076	1,100	Reserve	
TOTAL EXPENDITURES	$	71,904	$	91,007	$	91,187		
					
REVENUES LESS EXPENDITURES	$	723,638	$	695,964	$	695,952		
					
Bond Payments	(653,577)	(648,772)	(648,772)	2025 P & I Payments Less Earned Interest	
					
BALANCE	$	70,061	$	47,192	$	47,180		
					
County Appraiser & Tax Collector Fee	(16,788)	(15,731)	(15,726)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(28,768)	(31,461)	(31,454)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	24,505	$	-	$	-		
					
Carryover From Prior Year	0	0	0	Carryover From Prior Year	

NET EXCESS / (SHORTFALL)	
$	24,505	
$	-	
$	-		

II

2/6/2024 4:26 PM

DETAILED PROPOSED DEBT SERVICE BUDGET
MEADOW PINES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	FISCAL YEAR 2022/2023 ACTUAL	FISCAL YEAR 2023/2024 BUDGET	FISCAL YEAR 2024/2025 BUDGET	

COMMENTS	

Interest Income	
25,284	
100	
1,000	
Projected Interest For 2024/2025	

NAV Tax Collection	
653,577	
648,772	
648,772	
Maximum Debt Service Collection	

Prepaid Bond Collection	
0	
0	
0	
Prepaid Bond Collection	

Total Revenues	
$	678,861	
$	648,872	
$	649,772		

EXPENDITURES					

Principal Payments (2014A-1)	
315,000	
330,000	
345,000	
Principal Payment Due In 2025	

Principal Payments (2014A-2)	
60,000	
65,000	
65,000	
Principal Payment Due In 2025	

Bond Redemption	
0	
2,275	
5,329	
Estimated Excess Debt Collections	

Interest Payments (2014A-1)	
215,279	
196,791	
183,374	
Interest Payments Due In 2025	

Interest Payments (2014A-2)	
60,125	
54,806	
51,069	
Interest Payments Due In 2025	

TOTAL EXPENDITURES	
$	650,404	
$	648,872	
$	649,772		

EXCESS/ (SHORTFALL)	
$	28,457	
$	-	
$	-		

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 1/1/24 =	$4,565,000			

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 1/1/24 =	$950,000			

2/6/2024 4:26 PM	III

Meadow Pines Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2020/2021	2021/2022	2022/2023	2023/2024	2024/2025	
Assessment	Assessment	Assessment	Assessment	Projected Assessment	
Before Discount*	Before Discount*	Before Discount*	Before Discount*	Before Discount*	

O&M Assessment For Phase 1	
$	
64.49	
$	
64.49	

$	124.49	

$	124.49	
$	
124.24	
Debt Assessment For Phase 1	$	834.02	$	834.02	$	834.02	$	834.02	$	834.02	
Total For Phase 1	$	898.51	$	898.51	$	958.51	$	958.51	$	958.26	

O&M Assessment For Phase 2	
$	64.49	
$	64.49	
$	124.49	
$	124.49	
$	124.24	
Debt Assessment For Phase 2	$	964.50	$	964.50	$	964.50	$	964.50	$	964.50	
Total For Phase 2	$	1,028.99	$	1,028.99	$	1,088.99	$	1,088.99	$	1,088.74	

* Assessments Include the Following:			Phase 1 Information		
4% Discount for Early Payments			Total Units	418	
1% County Tax Collector Fee			Prepayments	1	
1% County Property Appraiser Fee			Billed For Debt	417	
Community Information:			
Phase 2 Information		
Phase One	418		Total Units	356	
Phase Two	356		Prepayments	1	
Total Units	774		Billed For Debt	355	

2/6/2024 4:26 PM	IV