Palm Beach Plantation Community Development District

Final Budget For Fiscal Year 2024/2025
October 1, 2024 - September 30, 2025

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

FINAL BUDGET
PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	
FISCAL YEAR 2024/2025 BUDGET	
O & M Assessments	163,668	
Debt Assessments	479,724	
Other Revenues	0	
Interest Income	600	
		
TOTAL REVENUES	$	643,992	
		
Discounts For Early Payments	(25,736)	
		
TOTAL NET REVENUES	$	618,256	
		
EXPENDITURES		
Supervisor Fees	7,000	
Payroll Taxes	560	
Maintenance	7,500	
Engineering/Inspections	10,000	
Management	38,136	
Secretarial	4,200	
Legal	8,500	
Assessment Roll	3,000	
Audit Fees	3,500	
Arbitrage Calculation Report Fee	650	
Insurance	7,400	
Legal Advertisements	1,200	
Miscellaneous	850	
Postage	275	
Office Supplies	625	
Dues & Subscriptions	175	
Trustee Fees	4,100	
Website Management	1,250	
Reserve/Contingency	51,300	
County Appraiser & Tax Collector Fee	7,500	
		
TOTAL EXPENDITURES	$	157,721	
		
REVENUES LESS EXPENDITURES	$	460,535	
		
Bond Payments	(460,535)	
		
EXCESS/ (SHORTFALL)	$	-	

Notes
22/23 Maintenance Expenditure Of $154,780 Was For Geo Tube. Fund Balance As Of 9-30-23: $47,944
Estimated Fund Balance As Of 9-30-24: $47,944 Plus Reserve/Contingency (Estimated At $54,600)

DETAILED FINAL BUDGET
PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	
FISCAL YEAR 2022/2023
ACTUAL	
FISCAL YEAR 2023/2024
BUDGET	
FISCAL YEAR 2024/2025
BUDGET	

COMMENTS	
O & M Assessments	120,690	166,926	163,668	Expenditures Less Interest/.96	
Debt Assessments	480,493	477,827	479,724	Bond Payments/.96	
Other Revenues	0	0	0		
Interest Income	5,584	480	600	Projected At $50 Per Month	
					
TOTAL REVENUES	$	606,767	$	645,233	$	643,992		
					
Discounts For Early Payments	(22,444)	(25,798)	(25,736)	Four Percent Of Total Assessment Roll	
					
TOTAL NET REVENUES	$	584,323	$	619,435	$	618,256		
					
EXPENDITURES					
Supervisor Fees	3,200	8,000	7,000	Supervisor Fees	
Payroll Taxes	260	640	560	Projected At 8 Percent Of Supervisor Fees	
Maintenance	154,780	7,500	7,500	No Change From 2023/2024 Budget	
Engineering/Inspections	35,823	10,000	10,000	No Change From 2023/2024 Budget	
Management	35,964	37,032	38,136	CPI Adjustment (Capped At 3%)	
Secretarial	4,200	4,200	4,200	No Change From 2023/2024 Budget	
Legal	9,470	8,500	8,500	No Change From 2023/2024 Budget	
Assessment Roll	3,000	3,000	3,000	No Change From 2023/2024 Budget	
Audit Fees	3,600	3,700	3,500	Accepted Amount For 2023/2024 Audit	
Arbitrage Calculation Report Fee	650	650	650	No Change From 2023/2024 Budget	
Insurance	6,441	6,900	7,400	Fiscal Year 2023/2024 Expenditure Was For $6,925	
Legal Advertisements	905	1,200	1,200	No Change From 2023/2024 Budget	
Miscellaneous	430	850	850	No Change From 2023/2024 Budget	
Postage	509	275	275	No Change From 2023/2024 Budget	
Office Supplies	490	650	625	$25 Decrease From 2023/2024 Budget	
Dues & Subscriptions	175	175	175	No Change From 2023/2024 Budget	
Trustee Fees	4,080	4,100	4,100	No Change From 2023/2024 Budget	
Website Management	1,250	1,250	1,250	No Change From 2023/2024 Budget	
Reserve/Contingency	0	54,600	51,300	Reserve/Contingency	
County Appraiser & Tax Collector Fee	4,000	7,500	7,500	County Appraiser & Tax Collector Fee	
					
TOTAL EXPENDITURES	$	269,227	$	160,722	$	157,721		
					
REVENUES LESS EXPENDITURES	$	315,096	$	458,713	$	460,535		
					
Bond Payments	(462,431)	(458,713)	(460,535)	2025 P & I Payments Less Earned Interest	
					
EXCESS/ (SHORTFALL)	$	(147,335)	$	-	$	-		
Notes
22/23 Maintenance Expenditure Of $154,780 Was For Geo Tube. Fund Balance As Of 9-30-23: $47,944
Estimated Fund Balance As Of 9-30-24: $47,944 Plus Reserve/Contingency (Estimated At $54,600)

DETAILED FINAL DEBT SERVICE FUND BUDGET
PALM BEACH PLANTATION COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	FISCAL YEAR 2022/2023 ACTUAL	FISCAL YEAR 2023/2024 BUDGET	FISCAL YEAR 2024/2025 BUDGET	

COMMENTS	

Interest Income	
12,872	
100	
400	
Interest For FY 2024/2025	

NAV Tax Collection	
462,431	
459,132	
460,535	

2025 P & I Payments Less Earned Interest	

NAV Tax Collection	
12,195	
0	
0		

Total Revenues	
$	487,498	
$	459,232	
$	460,935		

EXPENDITURES					

Principal Payments	
320,000	
330,000	
345,000	
Principal Payment Due In 2025	

Interest Payments	
148,735	
129,232	
115,935	
Interest Payments Due In 2025	

Total Expenditures	
$	468,735	
$	459,232	
$	460,935		

Excess/ (Shortfall)	
$	18,763	
$	-	
$	-		

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 1-1-24 =	May 2029

$3,445,000			

Principal Amount Due In May 2029: $1,655,000 ($405,000 - Regular Payment & $1,250,000 - Balloon Payment)

Palm Beach Plantation Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2020/2021	2021/2022	2022/2023	2023/2024	2024/2025	
	Assessment*			Assessment*			Assessment*			Assessment*			Projected Assessment*		

O & M For Lot Size 45	
$	
206.46	
$	206.46	
$	201.03	
$	278.21	
$	
272.79	
Debt For Lot Size 45	$	763.65	 $	760.94	 $	765.43	$	760.62	 $	762.30	
Total	$	970.11	$	967.40	$	966.46	$	1,038.83	$	1,035.09	
O & M For Lot Size 65+70	$	206.46	$	206.46	$	201.03	$	278.21	$	272.79	
Debt For Lot Size 65+70	$	848.17	 $	845.15	 $	850.14	$	847.89	 $	852.87	
Total	$	1,054.63	$	1,051.61	$	1,051.17	$	1,126.10	$	1,125.66	

* 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	2	
Billed For Debt	272	

5/14/2024 12:13 PM	IV