FY19/20 Proposed Budget WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT
do Special District Services, Inc.
2501 Burns Road, Suite A
Palm Beach Gardens, Florida 33410
(561)630-4922
Fax: (561) 630-4923
April 3, 2019
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 2019/2020 Budget(Oct. 1,2019—Sept.30,2020)
If you have any questions or comments,please contact our office.
Sincerely,
SPECIAL DIST' CT SERVICES, INC.
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• FILED 4/8"1.9 13:44Col Her Co
Windint Cypress
Community Development District
Proposed Budget For
Fiscal Year 2019/2020
October 1, 2019 - September 30, 2020
CONTENTS
I PROPOSED BUDGET
II DETAILED PROPOSED BUDGET
III DETAILED PROPOSED DEBT SERVICE FUND BUDGET (SERIES 2015)
IV DETAILED PROPOSED DEBT SERVICE FUND BUDGET (SERIES 2019)
V ASSESSMENT COMPARISON
PROPOSED BUDGET
WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT
FISCAL YEAR 2019/2020
OCTOBER 1, 2019-SEPTEMBER 30, 2020
FISCAL YEAR
2019/2020
REVENUES BUDGET
0&M Assessments 177,850
Debt Assessments-Series 2015 526,216
Debt Assessments-Series 2019 311,786
Interest Income 180
TOTAL REVENUES $ 1,016,032
EXPENDITURES
Supervisor Fees 1,200
Payroll Taxes-Employer 96
Engineering/Inspections 5,500
Preserve Maintenance i76,940
Management 35,280
Legal
16,000
Assessment Roll 5,000
Audit Fees 4,400
Arbitrage Rebate Fee 650
Insurance 6,000
Legal Advertisements 2,000
Miscellaneous 750
Postage 300
Office Supplies 600
Dues&Subscriptions 175
Trustee Fee 7 800
Continuing Disclosure Fee 2,000
TOTAL EXPENDITURES $ 164,691
REVENUES LESS EXPENDITURES $ 851,341
Bond Payments-Series 2015 (486,750)
Bond Payments-Series 2019 •
(288,402)
BALANCE 76,189
County Appraiser&Tax Collector Fee
(35,047)
Discounts For Early Payments (41,142)
EXCESS/(SHORTFALL) $ -
Carryover Funds From Prior Year 0
NET EXCESS/(SHORTFALL) $ -
4/3/2019 8:16 AM
DETAILED PROPOSED BUDGET
WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT
FISCAL YEAR 2019/2020
OCTOBER 1, 2019-SEPTEMBER 30, 2020
FISCAL YEAR FISCAL YEAR I FISCAL YEAR
2017/2018 2018/2019 2019/2020
REVENUES ACTUAL BUDGET BUDGET COMMENTS
0&M Assessments 92,949 89,833 177,850 Expenditures Less Interest/.925
Debt Assessments-Series 2015 528,035 517,686 526,216 Bond Payments/.925
Debt Assessments-Series 2019 1 0 0 311,786 Bond Payments/.925
Interest Income 227 120 180 Interest Projected At$15 Per Month
TOTAL REVENUES 621,211 $ 807,639 $ 1,016,032
EXPENDITURES
Supervisor Fees 0 0 1,200 Supervisor Fees
Payroll Taxes-Employer 0 0 96 Projected At 8%Of Supervisor Fees
Engineering/Inspections 5,373 3,500 5,500$2,000 Increase From 2018/2019 Budget
Preserve Maintenance 0 0 76,940 Preserve Maintenance
Management 33,924 34,632 35280 CPI Adjustment
Legal 6,852 16,250 16,000 FY 2018/2019 Expenditure Through Feb 2019 Was$3,450
Assessment Roll 5,000 5,000 5,000 As Per Contract
Audit Fees 3,300 3,400 4,400 Increased Due To Second Bond Issue
Arbitrage Rebate Fee 650. 650 650 No Change From 2018/2019 Budget
Insurance 5,610 6,172 6,000 Insurance Estimate
Legal Advertisements 1,611 2,700 2,000$700 Decrease From 2018/2019 Budget
Miscellaneous 183 750 750 No Change From 2018/2019 Budget
Postage 338 2501 300$50 Increase From 2018/2019 Budget
Office Supplies 254 650 600$50 Decrease From 2018/2019 Budget
Dues&Subscriptions 175, 175 175 No Change From 2018/2019 Budget
Trustee Fee 3,709 3,780 7,800 Increased Due To Second Bond Issue
Continuing Disclosure Fee 1,000 1,000 2,000 Increased Due To Second Bond Issue
TOTAL EXPENDITURES 67,979 $ 78,909 $ 164,691
REVENUES LESS EXPENDITURES 553,232 $ 528,730 $ 851,341
Bond Payments-Series 2015 (491,720) (486,625) (486,750)2020 Principal&Interest Payments
Bond Payments-Series 2019 0 I - (288,402)2020 Principal&Interest Payments
BALANCE 61,512 42,105 76,189
County Appraiser&Tax Collector Fee (8,270) (18,045) (35,047)Three And One Half Percent Of Total Assessment Roll
Discounts For Early Payments (18,691) (24,060) (41,142)Four Percent Of Total Assessment Roll
EXCESS/(SHORTFALL) $ 34,551 $ - $ -
Carryover Funds From Prior Year 0 0 0 Carryover Funds From Prior Year
NET EXCESS/(SHORTFALL) $ 34,551 $ - $ -
4/3'2019 8'16 AM II
DETAILED PROPOSED DEBT SERVICE FUND (SERIES 2015) BUDGET
WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT
FISCAL YEAR 2019/2020
OCTOBER 1,2019-SEPTEMBER 30,2020
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2017/2018 2018/2019 2019/2020
REVENUES ACTUAL BUDGET BUDGET COMMENTS
Interest Income 1,147 225 225 Projected Interest For 2019/2020
NAV Tax Collection 491,720 486,625 486,750 Maximum Debt Service Collection
Total Revenues $ 492,867 $ 486,850 $ 486,975
EXPENDITURES
Principal Payments 125,000 135,000 140,000 Principal Payment Due In 2020
Interest Payments 355,450 347,750 342,350 Interest Payments Due In 2020
Bond Redemption 0 4,100 4,625 Estimated Excess Debt Collections
Total Expenditures $ 480,450 $ 486,850 $ 486,975
Excess/(Shortfall) $ 12,417 $ - $ -
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 3/1/19= $7,110,000
I II
4/32019 8.16 AM
. DETAILED PROPOSED DEBT SERVICE (SERIES 2019) FUND BUDGET
WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT
FISCAL YEAR 2019/2020
OCTOBER 1,2019-SEPTEMBER 30,2020
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2017/2018 2018/2019 2019/2020
REVENUES ACTUAL BUDGET BUDGET COMMENTS
Interest Income 0 0 50 Projected Interest For 2019/2020
NAV Tax Collection 0 0 288,402 Maximum Debt Service Collection
Total Revenues $ - $ - $ 288,452
EXPENDITURES
Principal Payments 0 0 75,000 Principal Payment Due In 2020
Interest Payments 0 0 213,156 Interest Payments Due In 2020
Bond Redemption 0 0 296 Estimated Excess Debt Collections
Total Expenditures $ - $ - $ 288,452
Excess/(Shortfall) $ - $ - $ -
Series 2019 Bond Information
Original Par Amount= $7,535,000 Annual Principal Payments Due= November 1st
Interest Rate= 3.75%-5.00% Annual Interest Payments Due= May 1st&November 1st
Issue Date= February 2019
Maturity Date= November 2049
Par Amount As Of 3/1/19= $4,470,000
4/32019 1:16 AM
WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT
' ASSESSMENT COMPARISON
Fiscal Year Fiscal Year Fiscal Year
2017/2018 2018/2019 2019/2020
Assessment' Assessment' Projected Assessment'
0&M For Phases 1&2 SF Villas $ 164.53 $ 164.53 $ 232.18
Debt For Phases 1&2 SF Alas $ 835.00 $ 835.00 $ 849.00
Total For Phases 1&2 SF Villas $ 999.53 $ 999.53 $ 1,081.18
0&M For Phases 1&2 SF 50'Units $ 164.53 $ 164.53 $ 232.18
Debt For Phases 1&2 SF 50'Units $ 939.00 5 939.00 $ 954.00
Total For Phases 1 6 2 SF 50'Units $ 1,103.63 $ 1,103.53 $ 1,186.18
0 6 M For Phases 1&2 SF 65'Units $ 164.53 $ 164.53 $ 232.18
Debt For Phases 1&2 SF 65'Units $ 1,043.00 $ 1,043.00 $ 1,060.00
Total For Phases 1&2 SF 66'Units $ 1,207.53 $ 1,207.63 $ 1,292.18
0&M For Phase 3 SF 50'Units $ - $ - $ 232.18
Debt For Phase 3 SF 50'Units $ $ - $ 1,429.00
Total For Phase 3 SF 60'Units $ - $ - $ 1,661.18
0&M For Phase 3 SF 65'Units $ - $ - $ 232.18
Debt For Phase 3 SF 65'Units 5 - $ - $ 1,544.00
Total For Phase 3 SF 65'Units $ - $ - $ 1,776.18
•Assessments Include the Followina: Note:
4%Discount for Early Payments Changes In Debt Assessment
2%County Tax Collector Fee Rates From Prior Year Due To
1.5%County Property Appraiser Fee Fees Rate Adjustment In
Updated Methodologies. Debt Rates
Did Not Increase. Property Appraiser
Fees Were Included In O&M.
Community Information: Phases 1&2: Phase 3:
Phases 1&2: 554 Units Villas: 152 Units Villas: 0 Units
phase 3: 212 Units 50'Lots: 270 Units 50'Lots: 135 Units
Total: 766 Units 65'Lots. 132 Units 65'Lots: 77 Units
Total: 554 Units Total: 212 Units
4/3/2019 8:16 AM v