Winding Cypress CDD FY17/18 Budget 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
May 16, 2017
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 2017/2018 Budget (Oct. 1,2017—Sept. 30, 2018)
If you have any questions or comments, please contact our office.
Sincerely,
SPECIAL DISTRICT SERVICES, INC.
10 '1,
Laura J. Arche
Enclosure
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Windinr Cypress
Community Devdopment 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
WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT
FISCAL YEAR 2017/2018
OCTOBER 1, 2017 -SEPTEMBER 30, 2018
FISCAL YEAR
2017/2018
REVENUES BUDGET
0&M Assessments 89,833
Debt Assessments 517,686
Developer Contribution-0&M 0
Developer Contribution-Debt 0
Interest Income 120
TOTAL REVENUES $ 607,639
EXPENDITURES
Supervisor Fees 0
Payroll Taxes-Employer 0
Engineering/Inspections 3,500
Management 33,924
Legal 17,500
Assessment Roll 5,000
Audit Fees 3,300
Arbitrage Rebate Fee 650
Insurance 5,610
Legal Advertisements 2,700
Miscellaneous 750
Postage 250
Office Supplies 750
Dues&Subscriptions 175
Trustee Fee 3,800
Continuing Disclosure Fee 1,000
TOTAL EXPENDITURES $ 78,909
REVENUES LESS EXPENDITURES $ 528,730
Bond Payments (486,625)
BALANCE $ 42,105
County Appraiser Fee (6,015)
Tax Collector Fee (12,030)
Discounts For Early Payments (24,060)
EXCESS/(SHORTFALL) $ -
Carryover Funds From Prior Year 0
NET EXCESS/(SHORTFALL) $ -
4/19/2017 11.22 AM
DETAILED PROPOSED BUDGET
WINDING CYPRESS 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
0&M Assessments 0 89,833 89,833 Expenditures Less Interest/.94
Debt Assessments 0 513,776 517,686 Bond Payments/.94
Developer Contribution-0&M 97,281 0 0
Developer Contribution-Debt 129,689 0 0
Interest Income 6 60 120 Interest Projected At$10 Per Month
TOTAL REVENUES 226,976 $ 603,669 $ 607,639
EXPENDITURES
Supervisor Fees 0 0 0
Payroll Taxes-Employer 0 0 0
Engineering/Inspections 2,113 7,500 3,500$4,000 Decrease From 2016/2017 Budget
Management 30,250 33,228 33,924 CPI Adjustment
Legal 22,379 20,000 17,500 FY 2016/2017 Expenditure Through Feb 2017 Was$2,258 28
Assessment Roll 2,000 5,000 5,000 As Per Contract
Audit Fees 0 4,000 3,300 Accepted Amount For 2016/2017 Audit
Arbitrage Rebate Fee 0 650 650 No Change From 2016/2017 Budget
Insurance 3,315 6,000 5,610 Insurance Company Estimate
Legal Advertisements 21,648 1,200 2,700 FY 2015/2016 Expenditures Were Higher Due To Bond Issue
Miscellaneous 1,446 750 750 No Change From 2016/2017 Budget
Postage 691 250 250 No Change From 2016/2017 Budget
Office Supplies 2,246 750 750 No Change From 2016/2017 Budget
Dues&Subscriptions 175 175 " 175 No Change From 2016/2017 Budget
Trustee Fee 0 4,000 3,800 Fiscal Year 2016/2017 Expenditure Was$3,709
Continuing Disclosure Fee 0 1,000 1,000 No Change From 2016/2017 Budget
TOTAL EXPENDITURES 86,263 $ 84,503 $ 78,909
REVENUES LESS EXPENDITURES 140,713 $ 519,166 $ 528,730
Bond Payments (129,689) (482,950) >(486,625)2018 P&I Payments Less Earned Interest
BALANCE 11,024 $ 36,216 $ 42,105
County Appraiser Fee 0 (4,024) (6,015)One Percent Of Total Assessment Roll
Tax Collector Fee 0 (8,048) (12,030)Two Percent Of Total Assessment Roll
Discounts For Early Payments 0 (24,144) (24,060)Four Percent Of Total Assessment Roll
EXCESS/(SHORTFALL) $ 11,024 $ - $
Carryover Funds From Prior Year 0 0 0 Carryover Funds From Prior Year
NET EXCESS/(SHORTFALL) $ 11,024 $ - $' -
II
4/19/2017 11:22 AM
DETAILED PROPOSED DEBT SERVICE FUND BUDGET
WINDING CYPRESS 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 162 0 150 Projected Interest For 2017/2018
Developer Contribution 129,689 0 0 2016 Payments Were Developer Funded
NAV Tax Collection 0 486,625 486,625 Maximum Debt Service Collection
Total Revenues $ 129,851 $ 486,625 $ 486,775
EXPENDITURES
Principal Payments 0 125,000 130,000 Principal Payment Due In 2018
Interest Payments 129,689 357,950 352,950 Interest Payments Due In 2018
Bond Redemption 0 3,675 3,825 Estimated Excess Debt Collections
Total Expenditures $ 129,689 $ 486,625 $ 486,775
it
Excess/(Shortfall) $ 162 $ - $ -
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
III
4/19/2017 11:22 AM
WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT
ASSESSMENT COMPARISON
Original Fiscal Year Fiscal Year
Projected 2016/2017 2017/2018
Assessment* Assessment* Projected Assessment*
O&M For Phases 1 &2 SF Villas $ - $ 164.53 $ 164.53
Debt For Phases 1 &2 SF Villas $ 835.00 $ 835.00 $ 835.00
Total For Phases 1 &2 SF Villas $ 835.00 $ 999.53 $ 999.53
O&M For Phases 1 &2 SF 50' Units $ - $ 164.53 $ 164.53
Debt For Phases 1 &2 SF 50' Units $ 939.00 $ 939.00 $ 939.00
Total For Phases 1 &2 SF 50' Units $ 939.00 $ 1,103.53 $ 1,103.53
O& M For Phases 1 &2 SF 65' Units $ - $ 164.53 $ 164.53
Debt For Phases 1 &2 SF 65' Units $ 1,043.00 $ 1,043.00 $ 1,043.00
Total For Phases 1 &2 SF 65' Units $ 1,043.00 $ 1,207.53 $ 1,207.53
O& 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
4/19/2017 11:22 AM IV