Palm Beach Plantation Community Development District

Final Budget For Fiscal Year 2018/2019
October 1, 2018 - September 30, 2019

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	
FISCAL YEAR 2018/2019 BUDGET	
O & M Assessments	127,175	
Debt Assessments	477,761	
Other Revenues	0	
Interest Income	240	
		
TOTAL REVENUES	$	605,176	
		
Discounts For Early Payments	(24,197)	
		
TOTAL NET REVENUES	$	580,979	
		
EXPENDITURES		
Supervisor Fees	7,000	
Payroll Taxes	560	
Maintenance/Contingency	5,500	
Engineering/Inspections	5,000	
Management	33,048	
Secretarial	4,200	
Legal	8,500	
Assessment Roll	3,000	
Audit Fees	3,600	
Arbitrage Calculation Report Fee	650	
Insurance	6,646	
Legal Advertisements	1,300	
Miscellaneous	975	
Postage	325	
Office Supplies	650	
Dues & Subscriptions	175	
Trustee Fee	4,100	
Website Management	1,000	
Lake Erosion Project	24,000	
County Appraiser & Tax Collector Fee	12,099	
		
TOTAL EXPENDITURES	$	122,328	
		
REVENUES LESS EXPENDITURES	$	458,651	
		
Bond Payments	(458,651)	
		
EXCESS/ (SHORTFALL)	$	-	

Note: Fund Balance As Of 9-30-17: $90,411

6/11/2018 3:18 PM	I

DETAILED FINAL BUDGET
PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	
FISCAL YEAR 2016/2017
ACTUAL	
FISCAL YEAR 2017/2018
BUDGET	
FISCAL YEAR 2018/2019
BUDGET	

COMMENTS	
O & M Assessments	101,215	100,631	127,175	Expenditures Less Interest/.96	
Debt Assessments	480,006	478,836	477,761	Bond Payments/.96	
Other Revenues	0	0	0		
Interest Income	228	240	240	Projected At $20 Per Month	
					
TOTAL REVENUES	$	581,449	$	579,707	$	605,176		
					
Discounts For Early Payments	(21,537)	(23,179)	(24,197)	Four Percent Of Total Assessment Roll	
					
TOTAL NET REVENUES	$	559,912	$	556,528	$	580,979		
					
EXPENDITURES					
Supervisor Fees	6,800	6,000	7,000	$1,000 Increase From 2017/2018 Budget	
Payroll Taxes	520	480	560	Projected At 8 Percent Of Supervisor Fees	
Maintenance/Contingency	20,290	5,500	5,500	No Change From 2017/2018 Budget	
Engineering/Inspections	0	6,000	5,000	$1,000 Decrease From 2017/2018 Budget	
Management	31,716	32,376	33,048	CPI Adjustment	
Secretarial	4,200	4,200	4,200	No Change From 2017/2018 Budget	
Legal	6,390	8,500	8,500	No Change From 2017/2018 Budget	
Assessment Roll	3,000	3,000	3,000	No Change From 2017/2018 Budget	
Audit Fees	3,500	3,500	3,600	$100 Increase From 2017/2018 Budget	
Arbitrage Calculation Report Fee	650	650	650	No Change From 2017/2018 Budget	
Insurance	6,042	6,700	6,646	Insurance Company Estimate	
Legal Advertisements	1,042	1,350	1,300	$50 Decrease From 2017/2018 Budget	
Miscellaneous	788	975	975	No Change From 2017/2018 Budget	
Postage	94	350	325	$25 Decrease From 2017/2018 Budget	
Office Supplies	440	700	650	$50 Decrease From 2017/2018 Budget	
Dues & Subscriptions	175	175	175	No Change From 2017/2018 Budget	
Trustee Fee	3,708	3,800	4,100	Trustee (US Bank) Increasing Fees In 2018/2019	
Website Management	1,000	1,000	1,000	No Change From 2017/2018 Budget	
Lake Erosion Project	0	0	24,000	Lake Erosion Project	
County Appraiser & Tax Collector Fee	3,456	11,589	12,099	Two Percent Of Total Assessment Roll	
					
TOTAL EXPENDITURES	$	93,811	$	96,845	$	122,328		
					
REVENUES LESS EXPENDITURES	$	466,101	$	459,683	$	458,651		
					
Bond Payments	(463,018)	(459,683)	(458,651)	2019 P & I Payments Less Earned Interest	
					
EXCESS/ (SHORTFALL)	$	3,083	$	-	$	-		

Note: Fund Balance As Of 9-30-17: $90,411

6/11/2018 3:18 PM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET
PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	FISCAL YEAR 2016/2017 ACTUAL	FISCAL YEAR 2017/2018 BUDGET	FISCAL YEAR 2018/2019 BUDGET	

COMMENTS	

Interest Income	
716	
75	
75	
Interest For FY 2018/2019	

NAV Tax Collection	
463,018	
459,683	
458,651	

2019 P & I Payments Less Earned Interest	

Total Revenues	
$	463,734	
$	459,758	
$	458,726		

EXPENDITURES					

Principal Payments	
250,000	
260,000	
270,000	
Principal Payment Due In 2019	

Interest Payments	
215,124	
199,758	
188,726	
Interest Payments Due In 2019	

Extraordinary Principal Payments	
20,000	
0	
0	
Extraordinary Principal Payments	

Total Expenditures	
$	485,124	
$	459,758	
$	458,726		

Excess/ (Shortfall)	
$	(21,390)	
$	-	
$	-		

Series 2014 Bond Refunding Information
Original Par Amount =	$5,940,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	3.940%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	March 2014			
Maturity Date =

Par Amount As Of 1-1-18 =	May 2029

$5,185,000			

Original Principal Amount Due In May 2029: $1,720,000 Current Principal Amount Due In May 2029: $1,665,000

6/11/2018 3:18 PM	III

Palm Beach Plantation Community Development District Assessment Comparison

	Original	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
	Projected	2015/2016	2016/2017	2017/2018	2018/2019	
	 	Assessment*		 	Assessment*		 	Assessment*		 	Assessment *		 	Projected Assessment*		
O & M For Lot Size 45	$	124.11	$	169.18	$	168.57	$	167.72	$	211.96	
Debt For Lot Size 45	$	886.60	$	762.98	$	762.26	$	760.87	$	759.17	
Total	$	1,010.71	$	932.16	$	930.83	$	928.59	$	971.13	
O & M For Lot Size 65+70	$	124.11	$	169.18	$	168.57	$	167.72	$	211.96	
Debt For Lot Size 65+70	$	987.38	$	847.43	$	846.62	$	845.08	$	843.19	
Total	$	1,111.49	$	1,016.61	$	1,015.19	$	1,012.80	$	1,055.15	

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

Community Information:	

45 Foot Lots	326	
65/70 Foot Lots	274	
Total Units	600	

45 Foot Lots Information	

Total Units	326	
Prepayments	1	
Billed For Debt	325	

6/11/2018 3:18 PM	IV