FY18/19 Proposed 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
iU
April 5, 2018 c
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 2018/2019 Budget (Oct. 1, 2018—Sept. 30,2019)
If you have any questions or comments, please contact our office.
Sincerely,
SPECIAL DISTRICT SERVICES, INC.
t
Laura J. Arche r
Enclosure
Windin: Cypress
Community Development District
Proposed Budget For
Fiscal Year 2018/2019
October 1, 2018 - September 30, 2019
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 2018/2019
OCTOBER 1, 2018 -SEPTEMBER 30, 2019
FISCAL YEAR
2018/2019
REVENUES BUDGET
O&M Assessments 89,833
Debt Assessments 517,686
Developer Contribution-0&M 0
Interest Income 120
TOTAL REVENUES $ 607,639
EXPENDITURES
Supervisor Fees 0
Payroll Taxes-Employer 0
Engineering/Inspections 3,500
Management 34,632
Legal 16,250
Assessment Roll 5,000
Audit Fees 3,400
Arbitrage Rebate Fee 650
Insurance 6,172
Legal Advertisements 2,700
Miscellaneous 750
Postage 250
Office Supplies 650
Dues&Subscriptions 175
Trustee Fee 3,780
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) $ -
3/27/2018 11:47 AM
DETAILED PROPOSED BUDGET
WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT
FISCAL YEAR 2018/2019
OCTOBER 1, 2018 -SEPTEMBER 30, 2019
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2016/2017 2017/2018 2018/2019
REVENUES ACTUAL BUDGET BUDGET COMMENTS
0&M Assessments 90,091 89,833 89,833 Expenditures Less Interest/.94
Debt Assessments 518,311 517,686 517,686 Bond Payments/.94
Developer Contribution-O&M 0 0 0
Interest Income 115 120 120 Interest Projected At$10 Per Month
TOTAL REVENUES 608,517 $ 607,639 $ 607,639
EXPENDITURES
Supervisor Fees 0 0 0
Payroll Taxes-Employer 0 0 0
Engineering/Inspections 3,132 3,500 3,500 No Change From 2017/2018 Budget
Management 33,228 33,924 34,632 CPI Adjustment
Legal 3,496 17,500 16,250 FY 2017/2018 Expenditure Through Dec 2017 Was$2,878
Assessment Roll 5,000 5,000 5,000 As Per Contract
Audit Fees 3,200 3,300 3,400 Accepted Amount For 2017/2018 Audit
Arbitrage Rebate Fee 650 650 650 No Change From 2017/2018 Budget
Insurance 5,100 5,610 6,172 Insurance Company Estimate
Legal Advertisements 2,231 2,700 2,700 No Change From 2017/2018 Budget
Miscellaneous 303 750 750 No Change From 2017/2018 Budget
Postage 296 250 250 No Change From 2017/2018 Budget
Office Supplies 258 750 650$100 Decrease From 2017/2018 Budget
Dues&Subscriptions 175 175 175 No Change From 2017/2018 Budget
Trustee Fee 3,709 3,800 3,780$20 Decrease From 2017/2018 Budget
Continuing Disclosure Fee 1,000 1,000 1,000 No Change From 2017/2018 Budget
TOTAL EXPENDITURES 61,778 $ 78,909 $ 78,909
REVENUES LESS EXPENDITURES 546,739 $ 528,730 $ 528,730
Bond Payments (491,945) (486,625) (486,625)2019 P&I Payments Less Earned Interest
BALANCE 54,794 $ 42,105 $ 42,105
County Appraiser Fee (5,234) (6,015) (6,015)One Percent Of Total Assessment Roll
Tax Collector Fee (11,850) (12,030) (12,030)Two Percent Of Total Assessment Roll
Discounts For Early Payments (15,851) (24,060) (24,060)Four Percent Of Total Assessment Roll
EXCESS/(SHORTFALL) $ 21,859 $ - $ -
Carryover Funds From Prior Year 0 0 0 Carryover Funds From Prior Year
NET EXCESS/(SHORTFALL) $ 21,859 $ - $ -
3/27/2018 11:47 AM I I
DETAILED PROPOSED DEBT SERVICE FUND BUDGET
WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT
FISCAL YEAR 2018/2019
OCTOBER 1,2018-SEPTEMBER 30,2019
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2016/2017 2017/2018 2018/2019
REVENUES ACTUAL BUDGET BUDGET COMMENTS
Interest Income 761 150 225 Projected Interest For 2018/2019
Developer Contribution 352,375 0 0 November 2016 Payment Was Developer Funded
NAV Tax Collection 491,945 486,625 486,625 Maximum Debt Service Collection
Total Revenues $ 845,081 $ 486,775 $ 486,850
EXPENDITURES
Principal Payments 170,000 130,000 135,000 Principal Payment Due In 2019
Interest Payments 361,350 352,950 347,750 Interest Payments Due In 2019
Bond Redemption 0 3,825 4,100 Estimated Excess Debt Collections
Total Expenditures $ 531,350 $ 486,775 $ 486,850
Excess/(Shortfall) $ 313,731 $ - $ -
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
Par Amount As Of 1/1/18= $7,240,000
3/27/2018 11.47 AM III
WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT
ASSESSMENT COMPARISON
Original Fiscal Year Fiscal Year Fiscal Year
Projected 2016/2017 2017/2018 2018/2019
Assessment* Assessment* Assessment* Projected Assessment*
0&M For Phases 1 &2 SF Villas $ - $ 164.53 $ 164.53 $ 164.53
Debt For Phases 1 &2 SF Villas $ 835.00 $ 835.00 $ 835.00 $ 835.00
Total For Phases 1&2 SF Villas $ 835.00 $ 999.53 $ 999.53 $ 999.53
O&M For Phases 1 &2 SF 50'Units $ - $ 164.53 $ 164.53 $ 164.53
Debt For Phases 1 &2 SF 50'Units $ 939.00 $ 939.00 $ 939.00 $ 939.00
Total For Phases 1&2 SF 50'Units $ 939.00 $ 1,103.53 $ 1,103.53 $ 1,103.53
O&M For Phases 1 &2 SF 65'Units $ - $ 164.53 $ 164.53 $ 164.53
Debt For Phases 1 &2 SF 65'Units $ 1,043.00 $ 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 $ 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
3/27/2018 11:47 AM IV
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