FY21/22 Proposed Budget WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT
c/o Special District Services, Inc.
2501 Bums Road, Suite A
Palm Beach Gardens,Florida 33410
(561) 630-4922
Fax: (561)630-4923
May 6,2021
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 Cominiinity 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 2021/2022 Budget(Oct. 1,2021—Sept.30,2022)
If you have any questions or comments,please contact our office.
Sincerely,
(SPECIAL DISTRICT SERVICES, INC.
Laura J. Archer
Enclosure
Windin Cypress
Community Development District
Proposed Budget For
Fiscal Year 2021/2022
October 1, 2021 - September 30, 2022
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 2021/2022
OCTOBER 1, 2021 -SEPTEMBER 30,2022
FISCAL YEAR
2021/2022
REVENUES BUDGET
0&M Assessments 177,761
Debt Assessments-Series 2015 526,216
Debt Assessments-Series 2019 311,687
Interest Income 180
TOTAL REVENUES $ 1,015,844
EXPENDITURES
Supervisor Fees 1,200
Payroll Taxes-Employer 96
Engineering/Inspections 7,500
Preserve Maintenance 79,700
Management 36,588
Legal 15,500
Assessment Roll 5,000
Audit Fees 4,000
Arbitrage Rebate Fee 650
Insurance 5,900
Legal Advertisements 2,000
Miscellaneous 750
Postage 275
Office Supplies 575
Dues&Subscriptions 175
Trustee Fee 7,800
Continuing Disclosure Fee 2,000
•
TOTAL EXPENDITURES $ 169,709
REVENUES LESS EXPENDITURES $ 846,135
Bond Payments-Series 2015 (486,750)
Bond Payments-Series 2019 (288,311)
BALANCE 71,074
County Appraiser&Tax Collector Fee (35,040)
Discounts For Early Payments (41,134)
EXCESS/(SHORTFALL) $ (5,100)
Carryover Funds From Prior Year 5,100
NET EXCESS/(SHORTFALL) $ -
4/25/2021 12:08 PM
DETAILED PROPOSED BUDGET
WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT
FISCAL YEAR 2021/2022
OCTOBER 1, 2021 -SEPTEMBER 30, 2022
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2019/2020 2020/2021 2021/2022
REVENUES ACTUAL BUDGET BUDGET COMMENTS
0&M Assessments 178,278 177,811 177,761 Expenditures Less Interest&Carryover/.925
Debt Assessments-Series 2015 526,536}__ 526,216 526,216 Bond Payments/.925
Debt Assessments-Series 2019 311,895 311,687 311,687 Bond Payments/.925
Interest Income 193 180 180 Interest Projected At$15 Per Month
TOTAL REVENUES 1,016,902 $ 1,015,894 $ 1,016,844
EXPENDITURES
Supervisor Fees 0 1,200 1,200 Supervisor Fees
Payroll Taxes-Employer 0 96 96 Projected At 8%Of Supervisor Fees
Engineering/Inspections 4,928 8,000 7,500$500 Decrease From 2020/2021 Budget
Preserve Maintenance 78,705 79,700 79,700 Fiscal Year 2020/2021 Expenditure Was$75,100
Management 35,280 36,084 36,588 CPI Adjustment
Legal 8,736 15,500 15,500 FY 2020/2021 Expenditure Through Feb 2021 Was$5,818
Assessment Roll 5,000 5,000 5,000 As Per Contract
Audit Fees 3,800 3,900 4,000 Accepted Amount Of 2020/2021 Audit
Arbitrage Rebate Fee 650, 650 650 No Change From 2020/2021 Budget
Insurance 5,251 5,900 5,900 Insurance Estimate
Legal Advertisements 2,286 1,800 2,000$200 Increase From 2020/2021 Budget
Miscellaneous 100 750 750 No Change From 2020/2021 Budget
Postage 136 300 275$25 Decrease From 2020/2021 Budget
Office Supplies _ 231 600, 575$25 Decrease From 2020/2021 Budget
Dues&Subscriptions 175 175 175 No Change From 2020/2021 Budget
Trustee Fee 7,740 7,800 7,800 No Change From 2020/2021 Budget
Continuing Disdosure Fee 2,000 2,000 2,000 No Change From 2020/2021 Budget
TOTAL EXPENDITURES 155,018 $ 169,455 $ 169,709
REVENUES LESS EXPENDITURES 861,884 $ 846,439 $ 846,135
I
Bond Payments-Series 2015 (495,930) (486,750) (486,750)2022 Principal&Interest Payments
Bond Payments-Series 2019 (293,772) (288,311) (288,311)2022 Principal&Interest Payments
BALANCE 72,182 71,378 71,074
County Appraiser&Tax Collector Fee (21,521) (35,042) (35,040)Three And One Half Percent Of Total Assessment Roll
Discounts For Early Payments (39,531) (41,136) (41,134)Four Percent Of Total Assessment Roll
EXCESS!(SHORTFALL) $ 11,130 $ (4,800) $ (5,100)
Carryover Funds From Prior Year 0 4,800, 5,100 Carryover Funds From Prior Year
NET EXCESS/(SHORTFALL) $ 11,130 $ - $ -
I I
4/25/2021 12:08 PM
DETAILED PROPOSED DEBT SERVICE FUND (SERIES 2015) BUDGET
WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT
FISCAL YEAR 2021/2022
OCTOBER 1,2021 -SEPTEMBER 30,2022
FISCAL YEAR FISCAL YEAR I FISCAL YEAR
2019/2020 2020/2021 2021/2022
REVENUES ACTUAL BUDGET BUDGET COMMENTS
Interest Income 447 225 25 Projected Interest For 2021/2022
NAV Tax Collection 495,930 486,750 486,750,Maximum Debt Service Collection
Total Revenues $ 496,377 $ 486,975 $ 486,775
EXPENDITURES
Principal Payments 135,000 145,000 155,000 Principal Payment Due In 2022
Interest Payments 345,050 336,750 330,406 Interest Payments Due In 2022
Bond Redemption 0 5,225 1,369 Estimated Excess Debt Collections
Total Expenditures $ 480,050 $ 488,975 $ 486,776
Excess/(Shortfall) $ 16,327 $ - $ -
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 11/21= $6,835,000
I II
4rz52O21 12'.08 PM
• DETAILED PROPOSED DEBT SERVICE (SERIES 2019) FUND BUDGET
WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT
FISCAL YEAR 2021/2022
OCTOBER 1,2021 -SEPTEMBER 30,2022
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2019/2020 2020/2021 2021/2022
REVENUES ACTUAL BUDGET BUDGET COMMENTS _
Interest Income 240 50 25 Projected Interest For 2021/2022
Debt Service Bond Proceeds 293,772 0 0
NAV Tax Collection 0 288,311 288,311 Maximum Debt Service Collection
Total Revenues $ 294,012 $ 288,361 $ 288,336
EXPENDITURES
Principal Payments 0 75,000, 80,000 Principal Payment Due In 2022
Interest Payments 251,643_ 210 3_44 207,527 Interest Payments Due In 2022
Bond Redemption 0 3,017, 809 Estimated Excess Debt Collections
Total ExpertdIture , $ 26f,643 i 8 288,36f i $ 288,336
Excess!(Shortfall) $ 42,369 $ - $ -
Series 2019 Bond Information
Original Par Amount= $4,470,000 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 1/1/21= $4,395,000
4/25/2021 12:08 PM IV
WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT
1 1 1 1 ASSESSMENT COMPARISON
Fiscal Year Fiscal Year Fiscal Year Fiscal Tier
2018/2019 2019/2020 2020/2021 2021/2022
Assessment' Assessment' Assessment' Projected Assessment
0&M For Phases 1 82 SF Villas $ 154.53 6 232.18 $ 232.13 $ 232.07
Debt For Phases 1&2 SF Villas $ 835.00 $ 849.00 $ 849.00 $ 449.00
Total For Phases 1&2 SF VNlms $ 999.53 S 1,0411.18 $ 1,001.13 6 1,081.07
0 8 M For Phases 1 8 2 SF 58 Units $ 164.53 S 232.18 $ 232.13 $ 232.07
Debt For Phases 1 8 2 SF 50'Units $ 939.00 1 954.00 $ 054.00 S 954.00
Total For Phases 1&2 OF 50'Units S 1,103.53 $ 1,186.18 S 1,186.13 $ 1,186.07
0&M For Phases 1 8 2 SF 85'Units S 164.53 8 232.18 $ 232.13 $ 232.07
De0t For Phases 1 e 2 SF 65'Unite 8 1,043.00 7 1,060.00 $ 1,080.00 8 1,040.00
Total For Phases 1 L 2 SF SS'Unita $ 1,207.53 $ 1,292.18 S 1,29L13 $ 1,29L07
0 8 M For Phase 3 SF 50'Units $ . $ 232.18 $ 232.13 S 232.07
Debt For Phase 3 SF 50'Units I �, $ 1,429.00 4 1,429.00 S 1,429.00
Total For Phase 3 SF 50'Units S - $ 1,441.10 $ 1,601.13 $ 1,661.07
0 8 M For Phase 3 SF 85'Units $ $ 232.18 $ 232.13 $ 232.07
Debt For Phase 3 SF 85'Units $ - $ 1,544_00 S 1,644,00 $ 1,544.00
Total For Phase 3 SF s8'Units $ - 8 1,776.18 $ 1,776.13 $ 1,770.07
•Assessments Include the Followlno• Note:
4%Discount for Early Payments Chenpee In Debt amassment
2%County Tan Collector Fee Retell From 10/19 to 19/20 Due To
1.5%County Property Appraiser Fee Fess Rate Adjustment in
Updated MCOwdolope..Debt Rates
Did Nat Inc....Property Appraiser
Fees Were Included In 06M.
Community Information; ',huge 182. phase 3' Not.:
Phases 1&2: 554 Units Villas: 152 Units Visa: 0 Units Developer made Phase 3 Bond Prepayment
phase 3: 212 Lints 50'Lots: 270 Units 60'Lots: 138 Units In Jenusry 2020 4x 1 let.l eren8d
Total: 768 Units 65'Lou:a 132 Units 65'Lots: 76 Units (1 65'Lot Repheed min 1 50'Lot)
Total: 554 Units Total: 212 Units
•
5/5/2021 10:34 AM v