Palm Beach Plantation Community Development District

Proposed Budget For Fiscal Year 2023/2024
October 1, 2023 - September 30, 2024

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

DETAILED PROPOSED BUDGET
PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2023/2024 BUDGET	
O & M Assessments	166,926	
Debt Assessments	478,673	
Other Revenues	0	
Interest Income	480	
		
TOTAL REVENUES	$	646,079	
		
Discounts For Early Payments	(25,831)	
		
TOTAL NET REVENUES	$	620,248	
		
EXPENDITURES		
Supervisor Fees	8,000	
Payroll Taxes	640	
Maintenance/Contingency	7,500	
Engineering/Inspections	10,000	
Management	37,032	
Secretarial	4,200	
Legal	8,500	
Assessment Roll	3,000	
Audit Fees	3,700	
Arbitrage Calculation Report Fee	650	
Insurance	6,900	
Legal Advertisements	1,200	
Miscellaneous	850	
Postage	275	
Office Supplies	650	
Dues & Subscriptions	175	
Trustee Fees	4,100	
Website Management	1,250	
Reserve/Contingency	54,600	
County Appraiser & Tax Collector Fee	7,500	
		
TOTAL EXPENDITURES	$	160,722	
		
REVENUES LESS EXPENDITURES	$	459,526	
		
Bond Payments	(459,526)	
		
EXCESS/ (SHORTFALL)	$	-	

Notes
Fund Balance As Of 9-30-22: $196,000
Estimated Fund Balance As Of 9-30-23: $200,000

3/16/2023 5:50 PM	II

DETAILED PROPOSED BUDGET
PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	

FISCAL YEAR 2021/2022
ACTUAL	

FISCAL YEAR 2022/2023
BUDGET	

FISCAL YEAR 2023/2024
BUDGET	

COMMENTS	
O & M Assessments	123,960	120,614	166,926	Expenditures Less Interest/.96	
Debt Assessments	479,062	481,699	478,673	Bond Payments/.96	
Other Revenues	0	0	0		
Interest Income	28	240	480	Projected At $40 Per Month	
					
TOTAL REVENUES	$	603,050	$	602,553	$	646,079		
					
Discounts For Early Payments	(22,702)	(24,093)	(25,831)	Four Percent Of Total Assessment Roll	
					
TOTAL NET REVENUES	$	580,348	$	578,460	$	620,248		
					
EXPENDITURES					
Supervisor Fees	2,600	8,000	8,000	No Change From 2022/2023 Budget	
Payroll Taxes	208	640	640	Projected At 8 Percent Of Supervisor Fees	
Maintenance/Contingency	0	7,500	7,500	No Change From 2022/2023 Budget	
Engineering/Inspections	3,560	10,000	10,000	No Change From 2022/2023 Budget	
Management	34,920	35,964	37,032	CPI Adjustment (Capped At 3%)	
Secretarial	4,200	4,200	4,200	No Change From 2022/2023 Budget	
Legal	7,186	8,500	8,500	No Change From 2022/2023 Budget	
Assessment Roll	3,000	3,000	3,000	No Change From 2022/2023 Budget	
Audit Fees	3,500	3,600	3,700	$100 Increase From 2021/2022 Budget	
Arbitrage Calculation Report Fee	650	650	650	No Change From 2022/2023 Budget	
Insurance	5,992	6,000	6,900	Fiscal Year 2022/2023 Expenditure Was For $6,441	
Legal Advertisements	694	1,300	1,200	$100 Decrease From 2022/2023 Budget	
Miscellaneous	381	875	850	$25 Decrease From 2022/2023 Budget	
Postage	90	300	275	$25 Decrease From 2022/2023 Budget	
Office Supplies	353	675	650	$25 Decrease From 2022/2023 Budget	
Dues & Subscriptions	175	175	175	No Change From 2022/2023 Budget	
Trustee Fees	4,080	4,100	4,100	No Change From 2022/2023 Budget	
Website Management	1,250	1,250	1,250	No Change From 2022/2023 Budget	
Reserve/Contingency	0	11,800	54,600	Reserve/Contingency	
County Appraiser & Tax Collector Fee	3,673	7,500	7,500	County Appraiser & Tax Collector Fee	
					
TOTAL EXPENDITURES	$	76,512	$	116,029	$	160,722		
					
REVENUES LESS EXPENDITURES	$	503,836	$	462,431	$	459,526		
					
Bond Payments	(459,719)	(462,431)	(459,526)	2024 P & I Payments Less Earned Interest	
					
EXCESS/ (SHORTFALL)	$	44,117	$	(0)	$	-		

Notes
Fund Balance As Of 9-30-22: $196,000
Estimated Fund Balance As Of 9-30-23: $200,000

3/16/2023 5:50 PM	II

DETAILED PROPOSED DEBT SERVICE FUND BUDGET PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	FISCAL YEAR 2021/2022 ACTUAL	FISCAL YEAR 2022/2023 BUDGET	FISCAL YEAR 2023/2024 BUDGET	

COMMENTS	

Interest Income	
20	
25	
100	
Interest For FY 2023/2024	

NAV Tax Collection	
459,719	
462,406	
459,526	

2024 P & I Payments Less Earned Interest	

Total Revenues	
$	459,739	
$	462,431	
$	459,626		

EXPENDITURES					

Principal Payments	
305,000	
320,000	
330,000	
Principal Payment Due In 2024	

Interest Payments	
160,752	
142,431	
129,626	
Interest Payments Due In 2024	

Total Expenditures	
$	465,752	
$	462,431	
$	459,626		

Excess/ (Shortfall)	
$	(6,013)	
$	-	
$	-		

Series 2014 Bond Refunding Information
Original Par Amount =	$5,940,000	Annual Principal Payments Due =	May 1st	
Interest Rate = Issue Date = Maturity Date =	3.940%
March 2014
May 2029	Annual Interest Payments Due =	May 1st & November 1st	
Par Amount As Of 1-1-23 =	$3,775,000			
Principal Amount Due In May	2029: $1,665,000			

3/16/2023 5:50 PM	III

Palm Beach Plantation Community Development District Assessment Comparison

Original	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
Projected	2020/2021	2021/2022	2022/2023	2023/2024	
	Assessment*			Assessment*			Assessment*			Assessment*			Projected Assessment*		

O & M For Lot Size 45	
$	
124.11	
$	206.46	
$	206.46	
$	201.03	
$	
278.21	
Debt For Lot Size 45	$	886.60	$	763.65	$	760.94	$	765.43	$	760.62	
Total	$	1,010.71	$	970.11	$	967.40	$	966.46	$	1,038.83	
O & M For Lot Size 65+70	$	124.11	$	206.46	$	206.46	$	201.03	$	278.21	
Debt For Lot Size 65+70	$	987.38	$	848.17	$	845.15	$	850.14	$	847.89	
Total	$	1,111.49	$	1,054.63	$	1,051.61	$	1,051.17	$	1,126.10	

* 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	

65/70 Foot Lots Information	

Total Units	274	
Prepayments	1	
Billed For Debt	273	

3/16/2023 5:50 PM	IV