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Backup Documents 05/23/2017 Item #16I1A2 CA at F tLt:. J _ t? .!_IE 4t COUNTY. FLUf<IDA COURI SI'0 .,_ ng iw g4,‘ J..,. -- E tYIu) c �+ Pt rii ...i c. O �f ,.. CITE N r V RJ -= › a o 5)r 5 .5 .56::;1:°: 1,... >7 N P. v►rpO � T m S'.,. N T 00 V) a % ate' �D 9 " o- p 114 2... m .., O N g com ii O v O N v0° QUARRY COMMUNITY DEVELOPMENT DISTRICT do Special District Services, Inc. FILED #43 2501 Burns Road, Suite A :r^ t y, Palm Beach Gardens, Florida 33410 (561) 630-4922 IOU SPR 24 Pm g: j 0 Fax: (561) 630-4923 CLERK OF COURTS April 18, 2017 -, . , y El r VIA CERTIFIED MAIL— RETURN RECEIPT REQUESTED 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 2017/2018 Fiscal Year Budget(Oct. 1,2017—Sept. 30,2018) If you have any questions or comments, please contact our office. Sincerely, SPECIAL DISTRICT SERVICE��S, INC. Laura J. A c -r Enclosure Quarry Community Development District Proposed Budget For Fiscal Year 2017/2018 October 1, 2017 - September 30, 2018 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 2017/2018 OCTOBER 1,2017-SEPTEMBER 30,2018 FISCAL YEAR 2017/2018 REVENUES BUDGET O&M ASSESSMENTS 104,805 DEBT ASSESSMENTS 1,245,238 OTHER REVENUES 0 INTEREST INCOME 0 TOTAL REVENUES $ 1,350,043 EXPENDITURES SUPERVISOR FEES 0 PAYROLL TAXES(EMPLOYER) 0 ENGINEERING/MAINTENANCE 18,500 MANAGEMENT 37,848 LEGAL 7,000 ASSESSMENT ROLL 5,000 AUDIT FEES 4,100 ARBITRAGE REBATE FEE 600 INSURANCE 7,512 LEGAL ADVERTISING 1,400 BANK SERVICE CHARGES 500 MISCELLANEOUS 1,160 POSTAGE 650 OFFICE SUPPLIES 700 DUES&SUBSCRIPTIONS 175 TRUSTEE FEES 5,300 CONTINUING DISCLOSURE FEE 0 WEBSITE MANAGEMENT 1,500 RESERVES 5,000 TOTAL EXPENDITURES $ 96,945 REVENUES LESS EXPENDITURES $ 1,253,098 BOND PAYMENTS (1,151,845) BALANCE $ 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) $ - 4/11/2017 12:30 PM , DETAILED PROPOSED BUDGET QUARRY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2017/2018 OCTOBER 1, 2017-SEPTEMBER 30,2018 FISCAL YEAR FISCAL YEAR FISCAL YEAR 2015/2016 2016/2017 2017/2018 REVENUES ACTUAL BUDGET BUDGET COMMENTS O&M ASSESSMENTS 82,211 104,805' 104,805 Expenditures/.925 DEBT ASSESSMENTS 1,391,058 1,245,238 1,245,238 Payment To Trustee/.925 OTHER REVENUES 0 0 0 INTEREST INCOME 27 0 0 No Change From 2016/2017 Budget TOTAL REVENUES $ 1,473,296 $ 1,350,043 $ 1.350,043 EXPENDITURES SUPERVISOR FEES 0 0 _ 0 PAYROLL TAXES(EMPLOYER) 0 0 0 ENGINEERING/MAINTENANCE 21,195 19,500'T 18;500 Fiscal Year 16/17 Expenditures Through February 2017=$6,225 MANAGEMENT 36,828 37,080' _ 37,848 CPI Adjustment LEGAL 5,562 6,000 7,000 Fiscal Year 16/17 Expenditures Through January 2017=$3,352 ASSESSMENT ROLL 5,000 5,000 5,000 As Per Contract AUDIT FEES 4,250 4,100_ 4,100 Accepted Amount For 2016/2017 Audit ARBITRAGE REBATE FEE 600_ 500 600$100 Increase From 2016/2017 Budget INSURANCE 6,695 7,365 7.512 Insurance Company Estimate LEGAL ADVERTISING 2,021_ 1,500 1,400 Expenditures Were Higher In 2015/2016 Due To Refunding BANK SERVICE CHARGES 334 500 500 Bank Fees Charged By Hancock Bank MISCELLANEOUS 1,130 1,075 1,160$85 Increase From 2016/2017 Budget POSTAGE 986 650 650 Expenditures Were Higher In 2015/2016 Due To Refunding OFFICE SUPPLIES 1,539 700 700 Expenditures Were Higher In 2015/2016 Due To Refunding DUES&SUBSCRIPTIONS 175_ 175_ 176 No Change From 2016/2017 Budget TRUSTEE FEES 5,000 5,300 5,300 No Change From 2016/2017 Budget CONTINUING DISCLOSURE FEE 0 1,000 _ 0 Prager No Longer Charging Due To Refunding WEBSITE MANAGEMENT 1,500 1,500 1,500 No Change From 2016/2017 Budget RESERVES 0 5,000 5,000 Contribution to Reserves TOTAL EXPENDITURES $ 92,815 _$ 96,945 $ 96,945' REVENUES LESS EXPENDITURES $ 1,380481 $ 1,253,098 $ 1.253,098' BOND PAYMENTS (1,314,3961 (1,151,845) (1,151,845)2018 P&I Payments Less Earned Interest BALANCE $ 66,085 $ 101,253 $ 101,253 COUNTY APPRAISER&TAX COLLECTOR FEE (39,441)_ (47,589) '(47,589)3.5 Percent Of Total On Roll Assessment Roll DISCOUNTS FOR EARLY PAYMENTS (52,759)_ (53,664) (53,664)4 Percent Of Total On Roll Assessment Roll EXCESS/(SHORTFALL) $ (26,115) $ - $ CARRYOVER FROM PRIOR YEAR 0 0 0 Carryover From Prior Year NET EXCESS/(SHORTFALL) $ (26,115) $ - $ - • 4/11/2017 12.30 PM II DETAILED PROPOSED DEBT SERVICE FUND BUDGET QUARRY COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2017/2018 OCTOBER 1, 2017 - SEPTEMBER 30, 2018 FISCAL YEAR FISCAL YEAR FISCAL YEAR 2015/2016 2016/2017 2017/2018 REVENUES ACTUAL BUDGET BUDGET COMMENTS Interest Income 867 0 0 Projected Interest For 2017/2018 NAV Assessment Collection 1,314,396 1,151,845 1,151,845 Maximum Debt Service Collection Prepaid Bond Collection 0 0 0 Prepaid Bond Collection Total Revenues $ 1,315,263 $ 1,151,845 $ 1,151,845 EXPENDITURES Principal Payments 500,000 525,000 545,000 Principal Payment Due In 2018 Interest Payments 819,205 626,087 600,460 Interest Payments Due In 2018 A-1 Bond Redemption 0 758 6,385 Estimated Excess Debt Collections Total Expenditures $ 1,319,205 $ 1,151,845 $ 1,151,845 Excess/(Shortfall) $ (3,942) $ - $ - 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 4/11/2017 12:30 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 2016/2017 2016/2017 2016/2017 2016/2017 2016/2017 Total 2017/2018 2017/2018 2017/2018 2017/2018 Total 2017/2018 Lot Type #of Units 2016/2017 Total 2017/2018 Total O&M Debt Total 0&M Total Assessments O&M Debt Total 0&M Total Assessments Assessment Assessment Assessment Debt Assessment Assessment Assessment Debt Coach Homes 26 116.45 $1,502.21 $1,618.66 $3,027.70 $39,057.46 $42,085.16 116.45 $1,502.21 $1,618.66 $3,027.70 $39,057.46 $42,085.16 19 116.45 $1,550.66 $1,667.11 $2,212.55 $29,462.54 $31,675.09 116.45 $1,550.66 $1,667.11 $2,212.55 $29,462.54 $31,675.09 3 116.45 $1,792.95 $1,909.40 $349.35 $5,378.85 $5,728.20 116.45 $1,792.95 $1,909.40 $349.35 $5,378.85 $5,728.20 37 116.45 $2,035.24 $2,151.69 $4,308.65 $75,303.88 $79,612.53 116.45 $2,035.24 $2,151.69 $4,308.65 $75,303.88 $79,612.53 1 116.45 $2,083.70 $2,200.15 $116.45 $2,083.70 $2,200.15 116.45 $2,083.70 $2,200.15 $116.45 $2,083.70 $2,200.15 30 116.45 $2,277.53 $2,393.98 $3,493.50 $68,325.90 $71,819.40 116.45 $2,277.53 $2,393.98 $3,493.50 $68,325.90 $71,819.40 96 116.45 $620.26 $736.71 $11,179.20 $59,544.96 $70,724.16 116.45 $620.26 $736.71 $11,179.20 $59,544.96 $70,724.16 -Lux Coach Homes 26 116.45 $1,696.03 $1,812.48 $3,027.70 $44,096.78 $47,124.48 116.45 $1,696.03 $1,812.48 $3,027.70 $44,096.78 $47,124.48 20 116.45 $1,841.41 $1,957.86 $2,329.00 $36,828.20 $39,157.20 116.45 $1,841.41 $1,957.86 $2,329.00 $36,828.20 $39,157.20 18 116.45 $2,325.99 $2,442.44 $2,096.10 $41,867.82 $43,963.92 116.45 $2,325.99 $2,442.44 $2,096.10 $41,867.82 $43,963.92 Single Family Homes('55) 43 116.45 $1,502.21 $1,618.66 $5,007.35 $64,595.03 $69,602.38 116.45 $1,502.21 $1,618.66 $5,007.35 $64,595.03 $69,602.38 13 116.45 $1,550.66 $1,667.11 $1,513.85 $20,158.58 $21,672.43 116.45 $1,550.66 $1,667.11 $1,513.85 $20,158.58 $21,672.43 3 116.45 $1,792.95 $1,909.40 $349.35 $5,378.85 $5,728.20 116.45 $1,792.95 51,909.40 $349.35 $5,378.85 $5,728.20 4 116.45 $2,035.24 $2,151.69 $465.80 $8,140.96 $8,606.76 116.45 $2,035.24 $2,151.69 $465.80 $8,140.96 $8,606.76 74 116.45 $765.64 $882.09 $8,617.30 $56,657.36 $65,274.66 116.45 $765.64 $882.09 $8,617.30 $56,657.36 $65,274.66 Single Family Homes('67) 9 116.45 $1,696.03 $1,812.48 $1,048.05 $15,264.27 $16,312.32 116.45 $1,696.03 $1,812.48 $1,048.05 $15,264.27 $16,312.32 10 116.45 - $1,986.79 $2,103.24 $1,164.50 $19,867.90 $21,032.40 116.45 $1,986.79 $2,103.24 $1,164.50 $19,867.90 $21,032.40 1 116.45 $2,083.70 $2,200.15 $116.45 $2,083.70 $2,200.15 116.45 $2,083.70 $2,200.15 $116.45 - $2,083.70 $2,200.15 20 116.45 $2,229.08 $2,345.53 $2,329.00 $44,581.60 $46,910.60 116.45 $2,229.08 $2,345.53 $2,329.00 $44,581.60 $46,910.60 2 116.45 $2,325.99 $2,442.44 $232.90 $4,651.98 $4,884.88 116.45 $2,325.99 $2,442.44 $232.90 $4,651.98 $4,884.88 12 116.45 $2,471.37 $2,587.82 $1,397.40 $29,656.44 $31,053.84 116.45 $2,471.37 $2,587.82 $1,397.40 $29,656.44 $31,053.84 111 116.45 $843.17 $959.62 $12,925.95 $93,591.87 $106,517.82 116.45 $843.17 $959.62 $12,925.95 $93,591.87 $106,517.82 Single Family Homes('75) 22 116.45 $1,792.95 $1,909.40 $2,561.90 $39,444.90 $42,006.80 116.45 $1,792.95 $1,909.40 $2,561.90 $39,444.90 $42,006.80 12 116.45 $2,083.20 $2,200.15 $1,397.40 $25,004.40 $26,401.80 116.45 $2,083.70 $2,200.15 $1,397.40 $25,004.40 $26,401.80 1 116.45 $2,180.61 $2,297.06 $116.45 $2,180.61 $2,297.06 116.45 $2,180.61 $2,297.06 $116.45 $2,180.61 $2,297.06 39 116.45 $2,325.99 $2,442.44 $4,541.55 $90,713.61 $95,255.16 116.45 $2,325.99 $2,442.44 $4,541.55 $90,713.61 $95,255.16 8 116.45 $2,229.08 $2,345.53 $931.60 $17,832.64 $18,764.24 116.45 $2,229.08 $2,345.53 $931.60 $17,832.64 $18,764.24 2 116.45 $2,422.91 $2,539.36 $232.90 $4,845.82 $5,078.72 116.45 $2,422.91 $2,539.36 $232.90 $4,845.82 $5,078.72 1 116.45 $3,876.65 $3,993.10 $116.45 $3,876.65 $3,993.10 116.45 $3,876.65 $3,993.10 $116.45 $3,876.65 $3,993.10 186 116.45 $998.23 $1,114.68 $21,659.70 $185,670.78 $207,330.48 116.45 $998.23 $1,114.68 $21,659.70 $185,670.78 $207,330.48 Single Family Homes('90) 10 116.45 $2,665.20 $2,781.65 $1,164.50 $26,652.00 $27,816.50 116.45 $2,665.20 $2,781.65 $1,164.50 $26,652.00 $27,816.50 8 116.45 $3,876.65 $3,993.10 $931.60 $31,013.20 $31,944.80 116.45 $3,876.65 $3,993.10 $931.60 $31,013.20 $31,944.80 1 116.45 $4,118.94 $4,235.39 $116.45 $4,118.94 $4,235.39 116.45 $4,118.94 $4,235.39 $116.45 $4,118.94 $4,235.39 32 116.45 $1,918.94 $2,035.39 $3,726.40 $61,406.08 $65,132.48 116.45 $1,918.94 $2,035.39 $3,726.40 $61,406.08 $65,132.48 900 $104,805.00 $1,259,338.26 $1,364,143.26 $104,805.00 $1,259,338.26 $1,364,143.26 Less 8 Bond Prepayers $14,101.29 $14,101.29 $14,101.29 $14,101.29 Six 75'Single Familys $1,245,236.97 $1,350,041.97 $1,245,236.97 $1,350,041.97 Two 90'Single Familys Iv