Palm Beach Plantation Community Development District

Proposed Budget For Fiscal Year 2022/2023
October 1, 2022 - September 30, 2023

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 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2022/2023 BUDGET	
O & M Assessments	120,614	
Debt Assessments	481,699	
Other Revenues	0	
Interest Income	240	
		
TOTAL REVENUES	$	602,553	
		
Discounts For Early Payments	(24,093)	
		
TOTAL NET REVENUES	$	578,460	
		
EXPENDITURES		
Supervisor Fees	8,000	
Payroll Taxes	640	
Maintenance/Contingency	7,500	
Engineering/Inspections	10,000	
Management	35,964	
Secretarial	4,200	
Legal	8,500	
Assessment Roll	3,000	
Audit Fees	3,600	
Arbitrage Calculation Report Fee	650	
Insurance	6,000	
Legal Advertisements	1,300	
Miscellaneous	875	
Postage	300	
Office Supplies	675	
Dues & Subscriptions	175	
Trustee Fee	4,100	
Website Management	1,250	
Reserve/Contingency	11,800	
County Appraiser & Tax Collector Fee	7,500	
		
TOTAL EXPENDITURES	$	116,029	
		
REVENUES LESS EXPENDITURES	$	462,431	
		
Bond Payments	(462,431)	
		
EXCESS/ (SHORTFALL)	$	(0)	

Notes
Fund Balance As Of 9-30-21: $152,500
Estimated Fund Balance As Of 9-30-22: $160,000

DETAILED PROPOSED BUDGET
PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2020/2021
ACTUAL	
FISCAL YEAR 2021/2022
BUDGET	
FISCAL YEAR 2022/2023
BUDGET	

COMMENTS	
O & M Assessments	123,968	123,873	120,614	Expenditures Less Interest/.96	
Debt Assessments	480,798	478,874	481,699	Bond Payments/.96	
Other Revenues	0	0	0		
Interest Income	434	240	240	Projected At $20 Per Month	
					
TOTAL REVENUES	$	605,200	$	602,987	$	602,553		
					
Discounts For Early Payments	(22,717)	(24,110)	(24,093)	Four Percent Of Total Assessment Roll	
					
TOTAL NET REVENUES	$	582,483	$	578,877	$	578,460		
					
EXPENDITURES					
Supervisor Fees	2,000	8,000	8,000	No Change From 2021/2022 Budget	
Payroll Taxes	156	640	640	Projected At 8 Percent Of Supervisor Fees	
Maintenance/Contingency	0	7,500	7,500	No Change From 2021/2022 Budget	
Engineering/Inspections	945	10,000	10,000	No Change From 2021/2022 Budget	
Management	34,440	34,920	35,964	CPI Adjustment (Capped At 3%)	
Secretarial	4,200	4,200	4,200	No Change From 2021/2022 Budget	
Legal	5,904	8,500	8,500	No Change From 2021/2022 Budget	
Assessment Roll	3,000	3,000	3,000	No Change From 2021/2022 Budget	
Audit Fees	3,400	3,500	3,600	Accepted Amount For 2021/2022 Audit	
Arbitrage Calculation Report Fee	650	650	650	No Change From 2021/2022 Budget	
Insurance	5,789	6,000	6,000	Insurance Estimate	
Legal Advertisements	771	1,300	1,300	No Change From 2021/2022 Budget	
Miscellaneous	205	925	875	$50 Decrease From 2021/2022 Budget	
Postage	68	325	300	$25 Decrease From 2021/2022 Budget	
Office Supplies	151	725	675	$50 Decrease From 2021/2022 Budget	
Dues & Subscriptions	175	175	175	No Change From 2021/2022 Budget	
Trustee Fee	4,080	4,100	4,100	No Change From 2021/2022 Budget	
Website Management	1,250	1,250	1,250	No Change From 2021/2022 Budget	
Reserve/Contingency	0	15,948	11,800	Reserve/Contingency	
County Appraiser & Tax Collector Fee	4,000	7,500	7,500	County Appraiser & Tax Collector Fee	
					
TOTAL EXPENDITURES	$	71,184	$	119,158	$	116,029		
					
REVENUES LESS EXPENDITURES	$	511,299	$	459,719	$	462,431		
					
Bond Payments	(461,364)	(459,719)	(462,431)	2023 P & I Payments Less Earned Interest	
					
EXCESS/ (SHORTFALL)	$	49,935	$	-	$	(0)		

Notes
Fund Balance As Of 9-30-21: $152,500 Estimated Fund Balance As Of 9-30-22: $160,000

DETAILED PROPOSED DEBT SERVICE FUND BUDGET PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	FISCAL YEAR 2020/2021 ACTUAL	FISCAL YEAR 2021/2022 BUDGET	FISCAL YEAR 2022/2023 BUDGET	

COMMENTS	

Interest Income	
21	
25	
25	
Interest For FY 2022/2023	

NAV Tax Collection	
461,364	
459,719	
462,406	

2023 P & I Payments Less Earned Interest	

Total Revenues	
$	461,385	
$	459,744	
$	462,431		

EXPENDITURES					

Principal Payments	
295,000	
305,000	
320,000	
Principal Payment Due In 2023	

Interest Payments	
172,375	
154,744	
142,431	
Interest Payments Due In 2023	

Total Expenditures	
$	467,375	
$	459,744	
$	462,431		

Excess/ (Shortfall)	
$	(5,990)	
$	-	
$	-		

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 1-1-22 =	May 2029

$4,080,000			

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	2019/2020	2020/2021	2021/2022	2022/2023
 	Assessment*	    	Assessment*	    	Assessment*	    	Assessment*	    	Projected Assessment*	

O & M For Lot Size 45	$	124.11	$	213.25	$	206.46	$	206.46	$	201.03	
Debt For Lot Size 45	$	886.60	$	757.78	$	763.65	$	760.94	$	765.43	
Total	$	1,010.71	$	971.03	$	970.11	$	967.40	$	966.46	
O & M For Lot Size 65+70	$	124.11	$	213.25	$	206.46	$	206.46	$	201.03	
Debt For Lot Size 65+70	$	987.38	$	841.65	$	848.17	$	845.15	$	850.14	
Total	$	1,111.49	$	1,054.90	$	1,054.63	$	1,051.61	$	1,051.17	

* 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	

3/8/2022 11:56 AM	IV