Palm Beach Plantation Community Development District

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

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

PROPOSED BUDGET
PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2020/2021 BUDGET	
O & M Assessments	123,873	
Debt Assessments	480,587	
Other Revenues	0	
Interest Income	240	
		
TOTAL REVENUES	$	604,700	
		
Discounts For Early Payments	(24,178)	
		
TOTAL NET REVENUES	$	580,522	
		
EXPENDITURES		
Supervisor Fees	8,000	
Payroll Taxes	640	
Maintenance/Contingency	7,500	
Engineering/Inspections	10,000	
Management	34,440	
Secretarial	4,200	
Legal	8,500	
Assessment Roll	3,000	
Audit Fees	3,400	
Arbitrage Calculation Report Fee	650	
Insurance	6,064	
Legal Advertisements	1,200	
Miscellaneous	950	
Postage	350	
Office Supplies	750	
Dues & Subscriptions	175	
Trustee Fee	4,100	
Website Management	1,250	
Lake Erosion Project	0	
Reserve/Contingency	16,489	
County Appraiser & Tax Collector Fee	7,500	
		
TOTAL EXPENDITURES	$	119,158	
		
REVENUES LESS EXPENDITURES	$	461,364	
		
Bond Payments	(461,364)	
		
EXCESS/ (SHORTFALL)	$	-	

Notes
Fund Balance As Of 9-30-19: $48,770
Estimated Fund Balance As Of 9-30-20: $50,000

DETAILED PROPOSED BUDGET
PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2017/2018
ACTUAL	
FISCAL YEAR 2019/2020
BUDGET	
FISCAL YEAR 2020/2021
BUDGET	

COMMENTS	
O & M Assessments	127,399	127,948	123,873	Expenditures Less Interest/.96	
Debt Assessments	478,145	476,892	480,587	Bond Payments/.96	
Other Revenues	0	0	0		
Interest Income	200	240	240	Projected At $20 Per Month	
					
TOTAL REVENUES	$	605,744	$	605,080	$	604,700		
					
Discounts For Early Payments	(22,352)	(24,194)	(24,178)	Four Percent Of Total Assessment Roll	
					
TOTAL NET REVENUES	$	583,392	$	580,886	$	580,522		
					
EXPENDITURES					
Supervisor Fees	5,200	8,000	8,000	No Change From 2019/2020 Budget	
Payroll Taxes	390	640	640	Projected At 8 Percent Of Supervisor Fees	
Maintenance/Contingency	0	7,500	7,500	No Change From 2019/2020 Budget	
Engineering/Inspections	5,630	10,000	10,000	No Change From 2019/2020 Budget	
Management	33,048	33,672	34,440	CPI Adjustment	
Secretarial	4,200	4,200	4,200	No Change From 2019/2020 Budget	
Legal	6,596	8,500	8,500	No Change From 2019/2020 Budget	
Assessment Roll	3,000	3,000	3,000	No Change From 2019/2020 Budget	
Audit Fees	3,200	3,300	3,400	Accepted Amount For 2019/2020 Audit	
Arbitrage Calculation Report Fee	650	650	650	No Change From 2019/2020 Budget	
Insurance	5,250	6,000	6,064	Insurance Estimate	
Legal Advertisements	967	1,200	1,200	No Change From 2019/2020 Budget	
Miscellaneous	487	975	950	$25 Decrease From 2019/2020 Budget	
Postage	158	375	350	$25 Decrease From 2019/2020 Budget	
Office Supplies	407	800	750	$50 Decrease From 2019/2020 Budget	
Dues & Subscriptions	175	175	175	No Change From 2019/2020 Budget	
Trustee Fee	4,080	4,100	4,100	No Change From 2019/2020 Budget	
Website Management	1,000	1,250	1,250	No Change From 2019/2020 Budget	
Lake Erosion Project	67,820	0	0	Fiscal Year 2018/2019 Expenditure	
Reserve/Contingency	0	16,636	16,489	Reserve/Contingency	
County Appraiser & Tax Collector Fee	3,332	12,097	7,500	County Appraiser & Tax Collector Fee	
					
TOTAL EXPENDITURES	$	145,590	$	123,070	$	119,158		
					
REVENUES LESS EXPENDITURES	$	437,802	$	457,816	$	461,364		
					
Bond Payments	(458,651)	(457,816)	(461,364)	2021 P & I Payments Less Earned Interest	
					
EXCESS/ (SHORTFALL)	$	(20,849)	$	-	$	-		
Notes
Fund Balance As Of 9-30-19: $48,770
Estimated Fund Balance As Of 9-30-20: $50,000

DETAILED PROPOSED DEBT SERVICE FUND BUDGET PALM BEACH PLANTATION 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	
1,259	
75	
200	
Interest For FY 2019/2020	

NAV Tax Collection	
458,651	
457,816	
461,364	

2021 P & I Payments Less Earned Interest	

Total Revenues	
$	459,910	
$	457,891	
$	461,564		

EXPENDITURES					

Principal Payments	
270,000	
280,000	
295,000	
Principal Payment Due In 2020	

Interest Payments	
194,045	
177,891	
166,564	
Interest Payments Due In 2020	

Total Expenditures	
$	464,045	
$	457,891	
$	461,564		

Excess/ (Shortfall)	
$	(4,135)	
$	-	
$	-		

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 1-1-20 =	May 2029

$4,655,000			

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

Palm Beach Plantation Community Development District Assessment Comparison

Original	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year
Projected	2017/2018	2018/2019	2019/2020	2020/2021
 	Assessment*	 	Assessment *	 	Assessment *	 	Assessment*	 	Projected  Assessment*	

O & M For Lot Size 45	$	124.11	$	167.72	$	211.96	$	213.25	$	206.46	
Debt For Lot Size 45	$	886.60	$	760.87	$	759.17	$	757.78	$	763.65	
Total	$	1,010.71	$	928.59	$	971.13	$	971.03	$	970.11	
O & M For Lot Size 65+70	$	124.11	$	167.72	$	211.96	$	213.25	$	206.46	
Debt For Lot Size 65+70	$	987.38	$	845.08	$	843.19	$	841.65	$	848.17	
Total	$	1,111.49	$	1,012.80	$	1,055.15	$	1,054.90	$	1,054.63	

* 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	

3/19/2020 2:15 PM	IV