Palm Beach Plantation Community Development District

Proposed Budget For Fiscal Year 2021/2022
October 1, 2021 - September 30, 2022

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 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2021/2022 BUDGET	
O & M Assessments	123,873	
Debt Assessments	478,874	
Other Revenues	0	
Interest Income	240	
		
TOTAL REVENUES	$	602,987	
		
Discounts For Early Payments	(24,110)	
		
TOTAL NET REVENUES	$	578,877	
		
EXPENDITURES		
Supervisor Fees	8,000	
Payroll Taxes	640	
Maintenance/Contingency	7,500	
Engineering/Inspections	10,000	
Management	34,920	
Secretarial	4,200	
Legal	8,500	
Assessment Roll	3,000	
Audit Fees	3,500	
Arbitrage Calculation Report Fee	650	
Insurance	6,000	
Legal Advertisements	1,300	
Miscellaneous	925	
Postage	325	
Office Supplies	725	
Dues & Subscriptions	175	
Trustee Fee	4,100	
Website Management	1,250	
Reserve/Contingency	15,948	
County Appraiser & Tax Collector Fee	7,500	
		
TOTAL EXPENDITURES	$	119,158	
		
REVENUES LESS EXPENDITURES	$	459,719	
		
Bond Payments	(459,719)	
		
EXCESS/ (SHORTFALL)	$	-	

Notes
Fund Balance As Of 9-30-20: $102,000
Estimated Fund Balance As Of 9-30-21: $118,000

DETAILED PROPOSED BUDGET
PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2019/2020
ACTUAL	
FISCAL YEAR 2020/2021
BUDGET	
FISCAL YEAR 2021/2022
BUDGET	

COMMENTS	
O & M Assessments	128,133	123,873	123,873	Expenditures Less Interest/.96	
Debt Assessments	477,128	480,587	478,874	Bond Payments/.96	
Other Revenues	0	0	0		
Interest Income	337	240	240	Projected At $20 Per Month	
					
TOTAL REVENUES	$	605,598	$	604,700	$	602,987		
					
Discounts For Early Payments	(22,550)	(24,178)	(24,110)	Four Percent Of Total Assessment Roll	
					
TOTAL NET REVENUES	$	583,048	$	580,522	$	578,877		
					
EXPENDITURES					
Supervisor Fees	3,400	8,000	8,000	No Change From 2020/2021 Budget	
Payroll Taxes	209	640	640	Projected At 8 Percent Of Supervisor Fees	
Maintenance/Contingency	0	7,500	7,500	No Change From 2020/2021 Budget	
Engineering/Inspections	683	10,000	10,000	No Change From 2020/2021 Budget	
Management	33,672	34,440	34,920	CPI Adjustment	
Secretarial	4,200	4,200	4,200	No Change From 2020/2021 Budget	
Legal	5,437	8,500	8,500	No Change From 2020/2021 Budget	
Assessment Roll	3,000	3,000	3,000	No Change From 2020/2021 Budget	
Audit Fees	3,300	3,400	3,500	Accepted Amount For 2020/2021 Audit	
Arbitrage Calculation Report Fee	650	650	650	No Change From 2020/2021 Budget	
Insurance	5,513	6,064	6,000	Insurance Estimate	
Legal Advertisements	1,706	1,200	1,300	$100 Increase From 2019/2020 Budget	
Miscellaneous	419	950	925	$25 Decrease From 2020/2021 Budget	
Postage	69	350	325	$25 Decrease From 2020/2021 Budget	
Office Supplies	226	750	725	$25 Decrease From 2020/2021 Budget	
Dues & Subscriptions	175	175	175	No Change From 2020/2021 Budget	
Trustee Fee	4,080	4,100	4,100	No Change From 2020/2021 Budget	
Website Management	1,250	1,250	1,250	No Change From 2020/2021 Budget	
Reserve/Contingency	0	16,489	15,948	Reserve/Contingency	
County Appraiser & Tax Collector Fee	7,044	7,500	7,500	County Appraiser & Tax Collector Fee	
					
TOTAL EXPENDITURES	$	75,033	$	119,158	$	119,158		
					
REVENUES LESS EXPENDITURES	$	508,015	$	461,364	$	459,719		
					
Bond Payments	(457,816)	(461,364)	(459,719)	2022 P & I Payments Less Earned Interest	
					
EXCESS/ (SHORTFALL)	$	50,199	$	-	$	-		
Notes
Fund Balance As Of 9-30-20: $102,000 Estimated Fund Balance As Of 9-30-21: $118,000

DETAILED PROPOSED DEBT SERVICE FUND BUDGET PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	FISCAL YEAR 2019/2020 ACTUAL	FISCAL YEAR 2020/2021 BUDGET	FISCAL YEAR 2021/2022 BUDGET	

COMMENTS	

Interest Income	
307	
200	
25	
Interest For FY 2021/2022	

NAV Tax Collection	
457,816	
461,364	
459,719	

2022 P & I Payments Less Earned Interest	

Total Revenues	
$	458,123	
$	461,564	
$	459,744		

EXPENDITURES					

Principal Payments	
280,000	
295,000	
305,000	
Principal Payment Due In 2022	

Interest Payments	
183,407	
166,564	
154,744	
Interest Payments Due In 2022	

Total Expenditures	
$	463,407	
$	461,564	
$	459,744		

Excess/ (Shortfall)	
$	(5,284)	
$	-	
$	-		

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 1-1-21 =	May 2029

$4,375,000			

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	2018/2019	2019/2020	2020/2021	2021/2022
 	Assessment*	    	Assessment *	    	Assessment*	    	Assessment*	    	Projected Assessment*	

O & M For Lot Size 45	$	124.11	$	211.96	$	213.25	$	206.46	$	206.46	
Debt For Lot Size 45	$	886.60	$	759.17	$	757.78	$	763.65	$	760.94	
Total	$	1,010.71	$	971.13	$	971.03	$	970.11	$	967.40	
O & M For Lot Size 65+70	$	124.11	$	211.96	$	213.25	$	206.46	$	206.46	
Debt For Lot Size 65+70	$	987.38	$	843.19	$	841.65	$	848.17	$	845.15	
Total	$	1,111.49	$	1,055.15	$	1,054.90	$	1,054.63	$	1,051.61	

* 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	

3/9/2021 10:40 AM	IV