Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
FY16/17 Proposed Budget
QUARRY COMMUNITY DEVELOPMENT DISTRICT �Q 4 t ` c/o Special District Services, Inc. %%% 2501 Bums Road, Suite A Palm Beach Gardens, Florida 33410 (561) 630-4922 Fax: (561) 6304923 [l` April 19, 2016 c: N -r VIA CERTIFIED MAIL— RETURN RECEIPT REQUESTED o co Clerk of the Circuit Court Dwight E. Brock Collier County Courthouse 3315 E. Tamiami Trail, Suite 102 Naples,Florida 34112 Re: Quarry 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 2016/2017 Fiscal Year Budget(Oct. 1,2016—Sept.30,2017) If you have any questions or comments,please contact our office. Sincerely, SPECIAL D STRICT SERVICES, INC. te Laura J. • c'er Enclosure Quarry 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 QUARRY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2016/2017 OCTOBER 1,2016-SEPTEMBER 30,2017 FISCAL YEAR 2016/2017 REVENUES BUDGET ON ROLL 0&M ASSESSMENTS 104,805 DEVELOPER DIRECT BILL 0&M ASSESSMENTS 0 ON ROLL DEBT ASSESSMENTS-BONDS 1,245,238 DEVELOPER DIRECT BILL DEBT ASSESSMENTS-BONDS 0 OTHER REVENUES 0 INTEREST INCOME 0 TOTAL REVENUES $ 1,350,043 EXPENDITURES SUPERVISOR FEES 0 PAYROLL TAXES(EMPLOYER) 0 ENGINEERING/MAINTENANCE 19,500 MANAGEMENT 37,080 LEGAL 6,000 ASSESSMENT ROLL 5,000 AUDIT FEES 4,100 ARBITRAGE REBATE FEE 500 INSURANCE 7,365 LEGAL ADVERTISING 1,500 BANK SERVICE CHARGES 500 MISCELLANEOUS 1,075 POSTAGE 650 OFFICE SUPPLIES 700 DUES&SUBSCRIPTIONS 175 TRUSTEE FEES 5,300 CONTINUING DISCLOSURE FEE 1,000 WEBSITE MANAGEMENT 1,500 RESERVES 5,000 TOTAL EXPENDITURES S 96,945 REVENUES LESS EXPENDITURES $ 1,253,098 BOND PAYMENTS(A-1 BOND) (1,151,845) BALANCE S 101,253 COUNTY APPRAISER&TAX COLLECTOR FEE (47,589) DISCOUNTS FOR EARLY PAYMENTS (53,664) EXCESS/(SHORTFALL) $ - CARRYOVER FROM PRIOR YEAR 0 NET EXCESS/(SHORTFALL) S - 4/1912016 2:25 PM DETAILED PROPOSED BUDGET QUARRY 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 ON ROLL 0&M ASSESSMENTS 76,507 76,280 104,805#of Platted Lots X$107.72 1.925 DEVELOPER DIRECT BILL 0&M ASSESSMENTS 20,997 5,950 (1.#of Unplatted Lots X$107.72 ON ROLL DEBT ASSESSMENTS-BONDS 1,337,094 1,337,546 1,245,238 Payment To Trustee/.925 DEVELOPER DIRECT BILL DEBT ASSESSMENTS•BONDS 0 62,180 0 Based On Estimated Payment To Trustee OTHER REVENUES 235 0 0 INTEREST INCOME 229 0 0 No Change From 2015/2016 Budget TOTAL REVENUES $ 1,435,062 $ 1,481,956 $ 1,350,043 EXPENDITURES SUPERVISOR FEES 0 0 0 PAYROLL TAXES(EMPLOYER) 0 0 0 ENGINEERING/MAINTENANCE 18,627 10,000 19500 Fiscal Year 15/16 Expenditures Through March 2016=$3,776 MANAGEMENT 36,540 36,828 37,080 CPI Adjustment LEGAL 5,100 5,000 6,000 Fiscal Year 15/16 Expenditures Through Jan 2016=$1,894 ASSESSMENT ROLL 5,000 5,000 5,000 As Per Contract AUDIT FEES 4,100 4,100 4,100 No Change From 2015/2016 Budget ARBITRAGE REBATE FEE 500 500 500 No Change From 2015/2016 Budget INSURANCE 6,695 7,550 7,365 Insurance Company Estimate LEGAL ADVERTISING 9,382 3,200 1,500$1,700 Decrease From 2015/2016 Budget BANK SERVICE CHARGES 0 0 500 Bank Fees Charged By Hancock Bank MISCELLANEOUS 756 1,075 1,075 No Change From 2015/2016 Budget POSTAGE 354 700, AR$50 Decrease From 2015/2016 Budget OFFICE SUPPLIES 665 700 '490 No Change From 2015/2016 Budget DUES&SUBSCRIPTIONS 175 175 - 175 No Change From 2015/2016 Budget TRUSTEE FEES 5,288 5,500 5,300$200 Decrease From 2015/2016 Budget CONTINUING DISCLOSURE FEE 1,000 1,000 1,000 No Change From 2015/2016 Budget WEBSITE MANAGEMENT 0 1,500 1,500 No Change From 2015/2016 Budget RESERVES 0 0 5,000 Contribution to Reserves TOTAL EXPENDITURES $ 94,182 $ 82,829 $ 98,'45 REVENUES LESS EXPENDITURES $ 1,340,880 $ 1,399,127_$ 1,253,098 BOND PAYMENTS(A-1 BOND) (1,264,035) (1,299,4101 it151,845)2017 P&I Payments Less Earned Interest BALANCE $ 76,845 $ 99,717 $ 101,253, COUNTY APPRAISER&TAX COLLECTOR FEE (37,890) (49 A84), (47,58913.5 Percent Of Total On Roll Assessment Roll DISCOUNTS FOR EARLY PAYMENTS (49,960), (56,553) (53,684)4 Percent Of Total On Roll Assessment Roll EXCESS/(SHORTFALL) 1 (11,005) $ (6,320) $ - CARRYOVER FROM PRIOR YEAR , 0 6,320 0 Carryover From Prior Year NET EXCESS/(SHORTFALL) $ (11,005) $ - $ - 4/19/2016 2:02 PM DETAILED PROPOSED DEBT SERVICE FUND BUDGET QUARRY 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 869 0 0 Projected Interest For 2016/2017 NAV Assessment Collection 1,316,015 1,237,230 1,151,845 Maximum Debt Service Collection Prepaid Bond Collection 1,057,268 62,180 0 Net Developer Direct Debt Service Collection Developer Direct Bill Assessment 0 62,180 0 Net Developer Direct Debt Service Collection Total Revenues $ 2,374,152 $ 1,361,590 $ 1,151,845 EXPENDITURES Principal Payments-Al 420,000 410,000 525,000 Principal Payment Due In 2017 Interest Payments-Al 938,850 843,700 626,087 Interest Payments Due In 2017 A-1 Bond Redemption 1,110,000 107,890 758 Estimated Excess Debt Collections Total Expenditures $ 2,468,850 $ 1,361,590 $ 1,151,845 • Excess!(Shortfall) $ (94,698) $ - $ - Series 2015 Bond Refunding Information Original Par Amount= $16,280,000 Annual Principal Payments Due= May 1st Interest Rate= 3.98% Annual Interest Payments Due= May 1st&November 1st Issue Date= October 2015 Maturity Date= May 2036 4/19/2016 2:02 PM I I I QUARRY COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year 2015/2016 2015/2016 2015/2016 2015/2016 2016/2017 2016/2017 2016/2017 2016/2017 Lot Type 4 of Units 2015/2016 Total 2015/2016 Total 2016/2017 Total 2016/2017 Total O&M Debt Total O&M Total Assessments 0&M Debt Total O&M Total Assessments Assessment Assessment Assessment Debt Assessment Assessment Assessment Debt Coach Homes 26 91.91 $1,675.68 51,767.59 $2,389.66 $43,567.68 $45,957.34 116.45 $1,502.21 $1,618.66 $3,027.70 $39,057.46 542,085.16 19 91.91 $1,729.73 $1,821.64 $1,746.29 $32,864.87 $34,611.16 116.45 $1,550.66 $1,667.11 $2,212.55 $29,462.54 $31,675.09 3 91.91 $2,000.00 $2,091.91 $275.73 $6,000.00 $6,275.73 116.45 $1,792.95 $1,909.40 $349.35 $5,378.85 $5,728.20 37 91.91 $2,270.07 $2,361.98 $3,400.67 $83,992.59 $87,393.26 116.45 $2,035.24 $2,151.69 $4,308.65 $75,303.88 579,612.53 1 91.91 $2,324.33 $2,416.24 $91.91 $2,324.33 52,416.24 116.45 $2,083.70 $2,200.15 $116.45 $2,083.70 $2,200.15 30 91.91 $2,540.54 $2,632.45 $2,757.30 $76,216.20 $78,973.50 116.45 $2,277.53 $2,393.98 $3,493.50 $68,325.90 $71,819.40 96 91.91 $691.89 $783.80 $8,823.36 $66,421.44 $75,244.80 116.45 $620.26 $736.71 $11,179.20 $59,544.96 $70,724.16 Lux Coach Homes 26 91.91 $1,891.89 $1,983.80 $2,389.66 $49,189.14 $51,578.80 116.45 $1,696.03 $1,812.48 $3,027.70 $44,096.78 $47,124.48 20 91.91 $2,054.05 $2,145.96 $1,838.20 $41,081.00 $42,919.20 116.45 $1,841.41 $1,957.86 $2,329.00 $36,828.20 539,157.20 18 91.91 $2,594.59 $2,686.50 $1,654.38 $46,702.62 $48,357.00 116.45 $2,325.99 $2,442.44 $2,096.10 $41,867.82 $43,963.92 Single Family Homes 155) 43 91.91 51,675.68 $1,767.59 $3,952.13 $72,054.24 $76,006.37 116.45 $1,502.21 $1,618.66 $5,007.35 $64,595.03 $69,602.38 13 91.91 $1,729.73 $1,821.64 $1,194.83 $22,486.49 $23,681.32 116.45 $1,550.66 $1,667.11 $1,513.85 $20,158.58 $21,672.43 3 91.91 $2,000.00 $2,091.91 $275.73 56,000.00 $6,275.73 116.45 $1,792.95 $1,909.40 $349.35 $5,378.85 $5,728.20 4 91.91 $2,270.07 $2,361.98 $367.64 $9,080.28 $9,447.92 116.45 $2,035.24 $2,151.69 $465.80 $8,140.96 $8,606.76 74 91.91 $854.05 $945.96 $6,801.34 $63,199.70 $70,001.04 116.45 5765.64 $882.09 $8,617.30 $56,657.36 $65,274.66 Single Family Homes('67) 9 91.91 $1,891.89 $1,983.80 $827.19 $17,027.01 $17,854.20 116.45 $1,696.03 $1,812.48 $1,048.05 $15,264.27 $16,312.32 10 91.91 $2,216.22 $2,308.13 $919.10 $22,162.20 $23,081.30 116.45 $1,996.79 $2,103.24 $1,164.50 $19,867.90 $21,032.40 1 91.91 $2,324.33 52,416.24 $91.91 $2,324.33 $2,416.24 116.45 $2,083.70 $2,200.15 $116.45 $2,083.70 $2,200.15 20 91.91 $2,486.49 $2,578.40 $1,838.20 $49,729.80 $51,568.00 116.45 $2,228.08 $2,345.53 $2,329.00 $44,581.60 $46,910.60 2 91.91 $2,594.59 $2,686.50 $183.82 $5,189.18 $5,373.00 116.45 $2,325.99 $2,442.44 $232.90 54,651.98 $4,884.88 12 91.91 $2,756.76 $2,848.67 $1,102.92 $33,081.11 $34,184.04 116,45 $2,471.37 $2,587.82 $1,397.40 $29,656.44 $31,053.84 111 91.91 $940.54 $1,032.45 $10,202.01 $104,399.94 $114,601.95 116.45 $843.17 $959.62 $12,925.95 $93,591.87 $106,517.82 Single Family Homes('75) 22 91.91 $2,000.00 $2,091.91 $2,022.02 $41,000.00 $46,022.02 11645 $1,79295 $1,909.40 $2,561.90 $39,444.90 $42,006.80 12 91.91 $2,324.33 $2,416.24 $1,102.92 $27,891.96 $28,994.88 116.45 $2,083.70 $2,200.15 $1,397.40 $25,004.40 $26,401.80 1 91.91 $2,432.43 $2,524.34 $91.91 52,43243 $2,524.34 116.45 $2,180.61 $2,297.06 $116.45 $2,180.61 $2,297.06 39 91.91 62,594.59 $2,686.50 53,584.49 $101,189.01 $104,773.50 116.45 $2,325.99 $2,442.44 $4,541.55 $90,713.61 $95,255.16 8 91.91 $2,486.49 $2,578.40 $735.28 $19,891.92 $20,627.20 116.45 $2,229.08 $2,345.53 $931.60 $17,832.64 $18,764.24 2 91.91 $2,702.70 $2,79461 $183.82 $5,405.40 $5,589.22 116.45 $2,422.91 $2,539.36 $232.90 $4,845.82 $5,078.72 1 91.91 $4,324.32 $4,416.23 $91.91 $4,324.32 $4,416.23 116.45 $3,876.6 $3,993.10 $116.45 $3,876.65 $3,993.10 186 91.91 $1,113.51 51,205.42 $17,095.26 5207,112.86 $224,208.12 116.45 $996.23 $1,114.68 $21,659.70 $185,670.78 $207,330.48 Single Family Homes('90) 10 91.91 $2,972.97 $3,064.88 $919.10 $29,729.70 $30,648.80 116.45 $2,66.20 $2,781.65 $1,164.50 $26,652.00 527,816.50 8 91.91 $4,324.32 54,416.23 $735.28 $34,594.56 $35,329.84 116.45 63,876.65 $3,993.10 $931.60 $31,013.20 $31,944.80 1 91.91 $4,594.59 $4,686.50 $91.91 $4,594.59 $4,656.50 116.45 $4,17394 $4,235.39 $116.45 $4,118.94 $4,235.39 32 91.91 52,140.54 $2,232.45 $2,941.12 $68,497.28 $71,438.40 116.45 $1,918.96 $2,035.39 $3,726.40 $61,406.08 $65,132.48 900 $82,719.00 $1,404,758.19 $1,487,477.19 $104,805.00 $1,259,338.26 $1,364,143.26 Less 8 Bond Prepayers $14,378.36 $14,378.36 $12,889.84 $12,889.84 Six 75'Single Familys $1,390,379.83 $1,473,098.83 $1,246,448.42 $1,351,253.42 Two 90'Single Familys IV