Proposed FY16/17 Budget (10/01/16-09/30/17) WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT
c/o Special District Services, Inc.
2501 Burns Road, Suite A
Palm Beach Gardens, Florida 33410
(561) 630-4922
Fax: (561) 630-4923 T ^ n M�
(o' U L/ i
April 5, 2016b
i
By Yl'1(�
VIA CERTIFIED MAIL—
RETURN RECEIPT REQUESTED
Clerk of the Circuit Court
Collier County Courthouse
3315 Tamiami Trail East, #102
Naples, Florida 34112-5324
Re: Winding Cypress Community Development District
To Whom It May Concern:
Pursuant to Florida law, enclosed please find a copy of the following document relative
to the above referenced Community Development District:
1.) Proposed Fiscal Year 2016/2017 Budget (Oct. 1, 2016— Sept. 30, 2017)
If you have any questions or comments, please contact our office.
Sincerely,
SPECIAL DISTRICT SERVICES, INC.
(110,4Z--(
Laura J. Arc Of
Enclosure
Windint Cypress
Community Development District
Proposed Budget For
Fiscal Year 2016/2017
October 1, 2016 - September 30, 2017
CONTENTS
I PROPOSED BUDGET
II DETAILED PROPOSED BUDGET
III DETAILED PROPOSED DEBT SERVICE FUND BUDGET
IV ASSESSMENT COMPARISON
PROPOSED BUDGET
WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT
FISCAL YEAR 2016/2017
OCTOBER 1, 2016 - SEPTEMBER 30, 2017
FISCAL YEAR
2016/2017
REVENUES BUDGET
0 & M Assessments 89,833
Debt Assessments 513,776
Developer Contribution - 0 & M 0
Developer Contribution - Debt 0
Interest Income 60
TOTAL REVENUES $ 603,669
EXPENDITURES
Supervisor Fees 0
Payroll Taxes- Employer 0
_Engineering/Inspections 7,500
Management 33,228
Legal 20,000
Assessment Roll 5,000
Audit Fees 4,000
Arbitrage Rebate Fee 650
Insurance 6,000
Legal Advertisements _ 1,200
Miscellaneous 750
Postage 250
Office Supplies 750
Dues &Subscriptions 175
Trustee Fee 4,000
Continuing Disclosure Fee 1,000
TOTAL EXPENDITURES $ 84,503
REVENUES LESS EXPENDITURES $ 519,166
Bond Payments (482,950)
BALANCE $ 36,216
County Appraiser&Tax Collector Fee (12,072)
Discounts For Early Payments (24,144)
NET EXCESS/(SHORTFALL) $ -
3/27/2016 2:04 PM
DETAILED PROPOSED BUDGET
WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT
FISCAL YEAR 2016/2017
OCTOBER 1, 2016 -SEPTEMBER 30, 2017
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2014/2015 2015/2016 2016/2017
REVENUES ACTUAL BUDGET BUDGET COMMENTS
0&M Assessments 0 0 89,833 Expenditures Less Interest/.94
Debt Assessments 0 0 513,776 Bond Payments/.94
Developer Contribution-0&M 10,000 81,825 0
Developer Contribution-Debt 0 482,064 0
Interest Income 0 0 60 Interest Projected At$5 Per Month
TOTAL REVENUES 10,000 $ 563,889 $ 603,669
EXPENDITURES
Supervisor Fees 0 0 0 No Change From 2015/2016 Budget
Payroll Taxes-Employer 0 01 0 Projected At 8%Of Supervisor Fees
Engineering/Inspections 0 15,000 7,500$7,500 Decrease From 2015/2016 Budget
Management 0 33,000 33,228 CPI Adjustment
Legal 6,824 20,000 20,000 No Change From 2015/2016 Budget
Assessment Roll 0 5,000 5,000 As Per Contract
Audit Fees 0 0 4,000 First Year Of Expenditure
Arbitrage Rebate Fee 0 0 650 First Year Of Expenditure
Insurance 0 6,000 6,000 No Change From 2015/2016 Budget
Legal Advertisements 757 1,200 1,200 No Change From 2015/2016 Budget
Miscellaneous 0 500 750 $250 Increase From 2015/2016 Budget
Postage 0 200 250$50 Increase From 2015/2016 Budget
Office Supplies _ 0 750 750 No Change From 2015/2016 Budget
Dues&Subscriptions 0 175 175 No Change From 2015/2016 Budget
Trustee Fee 0 0 4,000 First Year Of Expenditure
Continuing Disclosure Fee 0 0 1,000 First Year Of Expenditure
TOTAL EXPENDITURES 7,581 $ 81,825 $ 84,503
REVENUES LESS EXPENDITURES 2,419 $ 482,064 $ 519,166
Bond Payments 0 (482,064) (482,950) 2017 P&I Payments Less Earned Interest
BALANCE 2,419 $ - $ 36,216
County Appraiser&Tax Collector Fee 0 0 I (12,072) Two Percent Of Total Assessment Roll
Discounts For Early Payments 0 0 (24,144) Four Percent Of Total Assessment Roll
EXCESS/(SHORTFALL) $ 2,419 $ - $ -
Carryover Funds From Prior Year 0 0 0 Carryover Funds From Prior Year
NET EXCESS/(SHORTFALL) $ 2,419 $ - I $ -
3/27/2016 2:04 PM II
•
DETAILED PROPOSED DEBT SERVICE FUND BUDGET
WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT
FISCAL YEAR 2016/2017
OCTOBER 1,2016-SEPTEMBER 30,2017
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2014/2015 2015/2016 2016/2017
REVENUES ACTUAL BUDGET BUDGET COMMENTS
Interest Income 0 0 0 Projected Interest For 2016/2017
Developer Contribution 0 482,064 482,950 2016 Payments Were Developer Funded
NAV Tax Collection 0 0 0 2017 P&I Payments Less Earned Interest
Total Revenues $ - $ 482,064 $ 482,950
EXPENDITURES
Principal Payments 0 170,000 125,000 Principal Payment Due In 2017
Interest Payments 0 312,064 357,950 Interest Payments Due In 2017
Total Expenditures $ - $ 482,064 $ 482,950
Excess/(Shortfall) $ - $ - $ -
Series 2015 Bond Information
Original Par Amount= $7,535,000 Annual Principal Payments Due= November 1st
Interest Rate= 4.00%-5.00% Annual Interest Payments Due= May 1st&November 1st
Issue Date= December 2015
Maturity Date= November 2045
3/27/2010 2:04 PM
WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT
ASSESSMENT COMPARISON
Original Fiscal Year Fiscal Year
Projected 2015/2016 2016/2017
Assessment* Assessment* Projected Assessment*
O& M For Phases 1 &2 E=Villas $ - $ - $ 164.53
Debt For Phases 1 &2 S1 Villas $ 835.00 $ - $ 835.00
Total For Phases 1 &2 SF Villas $ 835.00 $ - $ 999.53
O&M For Phases 1 &2 SF 50' Units $ - $ - $ 164.53
Debt For Phases 1 &2 SF 50' Units $ 939.00 $ - $ 939.00
Total For Phases 1 &2 SF 50' Units $ 939.00 $ - $ 1,103.53
O& M For Phases 1 &2 SF 65' Units $ - $ - $ 164.53
Debt For Phases 1 &2 SF 65' Units $ 1,043.00 $ - $ 1,043.00
Total For Phases 1 &2 SF 65' Units $ 1,043.00 $ - $ 1,207.53
0& M For Phase 3 SF Villas $ - $ - $ -
Debt For Phase 3 SF Villas $ - $ - $ -
Total For Phase 3 SF Villas $ - $ - $ -
O& M For Phase 3 SF 50' Units $ - $ - $ -
Debt For Phase 3 SF 50' Units $ - $ - $ -
Total For Phase 3 SF 50'Units $ - $ - $ -
O&M For Phase 3 SF 65' Units $ - $ - $ -
Debt For Phase 3 SF 65' Units $ - $ - $ -
Total For Phase 3 SF 65'Units $ - $ - $ -
*Assessments Include the Following :
4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee
Community Information: Phases 1 &2: Phase 3:
Phases 1 &2: 546 Units Villas: 94 Units Villas: 28 Units
Phase 3: 235 Units 50' Lots: 310 Units 50' Lots: 136 Units
Total: 781 Units 65' Lots: 142 Units 65' Lots: 71 Units
Total: 546 Units Total: 235 Units
3/27/2016 2:04 PM IV