Palm Beach Plantation Community Development District

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

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

PROPOSED BUDGET
PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2019/2020 BUDGET	
O & M Assessments	127,948	
Debt Assessments	476,892	
Other Revenues	0	
Interest Income	240	
		
TOTAL REVENUES	$	605,080	
		
Discounts For Early Payments	(24,194)	
		
TOTAL NET REVENUES	$	580,886	
		
EXPENDITURES		
Supervisor Fees	8,000	
Payroll Taxes	640	
Maintenance/Contingency	7,500	
Engineering/Inspections	10,000	
Management	33,672	
Secretarial	4,200	
Legal	8,500	
Assessment Roll	3,000	
Audit Fees	3,300	
Arbitrage Calculation Report Fee	650	
Insurance	6,000	
Legal Advertisements	1,200	
Miscellaneous	975	
Postage	375	
Office Supplies	800	
Dues & Subscriptions	175	
Trustee Fee	4,100	
Website Management	1,250	
Lake Erosion Project	0	
Reserve/Contingency	16,636	
County Appraiser & Tax Collector Fee	12,097	
		
TOTAL EXPENDITURES	$	123,070	
		
REVENUES LESS EXPENDITURES	$	457,816	
		
Bond Payments	(457,816)	
		
EXCESS/ (SHORTFALL)	$	-	

Notes
Fund Balance As Of 9-30-18: $69,619
Estimated Fund Balance As Of 9-30-19: $27,000

3/8/2019 1:37 PM	I

DETAILED PROPOSED BUDGET
PALM BEACH PLANTATION 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	100,714	127,175	127,948	Expenditures Less Interest/.96	
Debt Assessments	479,037	477,761	476,892	Bond Payments/.96	
Other Revenues	0	0	0		
Interest Income	251	240	240	Projected At $20 Per Month	
					
TOTAL REVENUES	$	580,002	$	605,176	$	605,080		
					
Discounts For Early Payments	(21,553)	(24,197)	(24,194)	Four Percent Of Total Assessment Roll	
					
TOTAL NET REVENUES	$	558,449	$	580,979	$	580,886		
					
EXPENDITURES					
Supervisor Fees	9,000	7,000	8,000	$1,000 Increase From 2018/2019 Budget	
Payroll Taxes	638	560	640	Projected At 8 Percent Of Supervisor Fees	
Maintenance/Contingency	7,058	5,500	7,500	$2,000 Increase From 2018/2019 Budget	
Engineering/Inspections	28,419	5,000	10,000	$5,000 Increase From 2018/2019 Budget	
Management	32,376	33,048	33,672	CPI Adjustment	
Secretarial	4,200	4,200	4,200	No Change From 2018/2019 Budget	
Legal	9,110	8,500	8,500	No Change From 2018/2019 Budget	
Assessment Roll	3,000	3,000	3,000	No Change From 2018/2019 Budget	
Audit Fees	3,500	3,600	3,300	Accepted Amount For 2018/2019 Audit	
Arbitrage Calculation Report Fee	650	650	650	No Change From 2018/2019 Budget	
Insurance	6,042	6,646	6,000	Insurance Estimate	
Legal Advertisements	922	1,300	1,200	$100 Decrease From 2018/2019 Budget	
Miscellaneous	746	975	975	No Change From 2018/2019 Budget	
Postage	376	325	375	$50 Increase From 2018/2019 Budget	
Office Supplies	1,178	650	800	$150 Increase From 2018/2019 Budget	
Dues & Subscriptions	175	175	175	No Change From 2018/2019 Budget	
Trustee Fee	3,709	4,100	4,100	Trustee (US Bank) Increased Fees In 2018/2019	
Website Management	1,000	1,000	1,250	$250 Increase From 2018/2019 Budget	
Lake Erosion Project	0	24,000	0	Fiscal Year 2018/2019 Expenditure	
Reserve/Contingency	0	0	16,636	Reserve/Contingency	
County Appraiser & Tax Collector Fee	3,459	12,099	12,097	Two Percent Of Total Assessment Roll	
					
TOTAL EXPENDITURES	$	115,558	$	122,328	$	123,070		
					
REVENUES LESS EXPENDITURES	$	442,891	$	458,651	$	457,816		
					
Bond Payments	(463,683)	(458,651)	(457,816)	2020 P & I Payments Less Earned Interest	
					
EXCESS/ (SHORTFALL)	$	(20,792)	$	-	$	-		
Notes
Fund Balance As Of 9-30-18: $69,619 Estimated Fund Balance As Of 9-30-19: $27,000

3/8/2019 1:37 PM	II

DETAILED PROPOSED DEBT SERVICE FUND BUDGET PALM BEACH PLANTATION 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	
985	
75	
75	
Interest For FY 2019/2020	

NAV Tax Collection	
463,683	
458,651	
457,816	

2020 P & I Payments Less Earned Interest	

Total Revenues	
$	464,668	
$	458,726	
$	457,891		

EXPENDITURES					

Principal Payments	
260,000	
270,000	
280,000	
Principal Payment Due In 2020	

Interest Payments	
204,585	
188,726	
177,891	
Interest Payments Due In 2020	

Total Expenditures	
$	464,585	
$	458,726	
$	457,891		

Excess/ (Shortfall)	
$	83	
$	-	
$	-		

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 1-1-19 =	May 2029

$4,925,000			

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

3/8/2019 1:37 PM	III

Palm Beach Plantation Community Development District Assessment Comparison

	Original	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
	Projected	2016/2017	2017/2018	2018/2019	2019/2020	
	 	Assessment*		 	Assessment*		 	Assessment *		 	Assessment *		 	Projected Assessment*		
O & M For Lot Size 45	$	124.11	$	168.57	$	167.72	$	211.96	$	213.25	
Debt For Lot Size 45	$	886.60	$	762.26	$	760.87	$	759.17	$	757.78	
Total	$	1,010.71	$	930.83	$	928.59	$	971.13	$	971.03	
O & M For Lot Size 65+70	$	124.11	$	168.57	$	167.72	$	211.96	$	213.25	
Debt For Lot Size 65+70	$	987.38	$	846.62	$	845.08	$	843.19	$	841.65	
Total	$	1,111.49	$	1,015.19	$	1,012.80	$	1,055.15	$	1,054.90	

* 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	

3/8/2019 1:37 PM	IV