FY22/23 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
March 2, 2022
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 2022/2023 Budget(Oct. 1,2022—Sept.30,2023)
If you have any questions or comments,please contact our office.
Sincerely,
SPECIAL D STRICT SERVICES, INC.
Laura J. er
Enclosure
Windinl Cypress
Community Development District
Proposed Budget For
Fiscal Year 2022/2023
October 1, 2022 - September 30, 2o23
•
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 2022/2023
OCTOBER 1, 2022-SEPTEMBER 30,2023
FISCAL YEAR
2022/2023
REVENUES BUDGET
0&M Assessments 177,752
Debt Assessments-Series 2015 526,216
Debt Assessments-Series 2019 311,687
Interest Income 180
TOTAL REVENUES $ 1,015,835
EXPENDITURES
Supervisor Fees 1,200
Payroll Taxes-Employer 96
Engineering/Inspections 8,500
Preserve Maintenance 79,700
Lake Bank Maintenance 25,000
Management 37,680
Legal 15,500
Assessment Roll 5,000
Audit Fees 4,100
Arbitrage Rebate Fee 650
Insurance 6,000
Legal Advertisements 2,500
Miscellaneous 750
Postage 275
Office Supplies 550
Dues&Subscriptions 175
Trustee Fee 7,800
Continuing Disclosure Fee 1,500
TOTAL EXPENDITURES $ 196,976
REVENUES LESS EXPENDITURES $ 818,859
Bond Payments-Series 2015 (486,750)
Bond Payments-Series 2019 (288,311)
BALANCE 43,798
County Appraiser&Tax Collector Fee (35,039)
Discounts For Early Payments (41,134)
EXCESS/(SHORTFALL) $ (32,375)
Carryover Funds From Prior Year 32,375
NET EXCESS/(SHORTFALL) $ _
3/1/2022 5:09 PM
DETAILED PROPOSED BUDGET
WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT
FISCAL YEAR 2022/2023
OCTOBER 1, 2022-SEPTEMBER 30, 2023
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2020/2021 2021/2022 202212023
REVENUES ACTUAL BUDGET BUDGET COMMENTS
0&M Assessments 178,107 177,761 177,752 Expenditures Less Interest&Carryover/.925
Debt Assessments-Series 2015 526,463 526,216 526,216 Bond Payments/.925 _
Debt Assessments-Series 2019 311,787 311,687 311,687 Bond Payments/.925
Interest Income 217 180 180 Interest Projected At$15 Per Month
TOTAL REVENUES 1,016,574 $ 1,015,844 $ 1,015,835
EXPENDITURES
Supervisor Fees 0 1,200 1,200 Supervisor Fees
Payroll Taxes-Employer 0 96 96 Projected At 8%Of Supervisor Fees
Engineering/Inspections 8,566 7,500 8,500$1,000 Increase From 2021/2022 Budget
Preserve Maintenance 75,100 79,700 79,700 Fiscal Year 2021/2022 Expenditure Was$75,100
Lake Bank Maintenance 0 0 25,000 Lake Bank Maintenance
Management 36,084 36,588 37,680,CPI Adjustment(Capped At 3%)
Legal 10,842 15,500 15,500 FY 2020/2021 Expenditure Through Dec 2021 Was$4,248
Assessment Roll 5,000 5,000 5,000 As Per Contract
Audit Fees 3,900 4,000 4,100 Accepted Amount Of 2021/2022 Audit
Arbitrage Rebate Fee 650, 650 650 No Change From 2021/2022 Budget
Insurance 5,513 5,900 6,000 Insurance Estimate
Legal Advertisements 3,042 2,000 2,500$500 Increase From 2021/2022 Budget _
Miscellaneous 353 750 750 No Change From 2021/2022 Budget
Postage 288 275 275 No Change From 2021/2022 Budget
Office Supplies 408 575 550$25 Decrease From 2021/2022 Budget
Dues&Subscriptions 175 175 175 No Change From 2021/2022 Budget
Trustee Fee 7,740 7,800 7,800 No Change From 2021/2022 Budget
Continuing Disclosure Fee 1,500 2,000 1,500$500 Decrease From 2021/2022 Budget
TOTAL EXPENDITURES 159,161 $ 169,709 $ 196,976
REVENUES LESS EXPENDITURES 857,413 $ 846,135 $ 818,859
Bond Payments-Series 2015 (496,203) _086,750) (486,750)2023 Principal&Interest Payments
Bond Payments-Series 2019 (293,870) (288,311) (288,311)2023 Principal&Interest Payments
BALANCE 57,340 71,074 43,798
County Appraiser&Tax Collector Fee (13,000) (35,040) (35,039)Three And One Half Percent Of Total Assessment Roll
Discounts For Early Payments (38,853) (41,134) (41,134)Four Percent Of Total Assessment Roll
EXCESS/(SHORTFALL) $ 15,487 $ (5,100) $ (32,375)
Carryover Funds From Prior Year 0 5,100 32,375 Carryover Funds From Prior Year
NET EXCESS/(SHORTFALL) $ 15,487 $ - $ - ,
3/12022 5:D9 PM II
DETAILED PROPOSED DEBT SERVICE FUND (SERIES 2015) BUDGET
WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT
FISCAL YEAR 2022/2023
OCTOBER 1,2022-SEPTEMBER 30,2023
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2020/2021 2021/2022 2022/2023
REVENUES ACTUAL BUDGET BUDGET COMMENTS
Interest Income 30 25 25 Projected Interest For 2022/2023
NAV Tax Collection 496,203 486,750 486,750 Maximum Debt Service Collection
Total Revenues $ 496,233 $ 486,775 S 488,775
EXPENDITURES
Principal Payments 140,000 155,000 160,000 Principal Payment Due In 2023
Interest Payments 339,550 330,406 323,625 Principal Payment Due In 2023
Bond Redemption 0 1,369 3,150 Estimated Excess Debt Collections
Total Expenditures $ 479,550 $ 486,775 $ 486,775
Excess/(Shortfall) $ 16,683 $ - $ -
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 1/1/22= $6,690,000
3/12022 5:OB PM
DETAILED PROPOSED DEBT SERVICE (SERIES 2019) FUND BUDGET
WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT
FISCAL YEAR 2022/2023
OCTOBER 1,2022-SEPTEMBER 30,2023
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2020/2021 2021/2022 2022/2023
REVENUES ACTUAL BUDGET BUDGET COMMENTS
Interest Income 17 25 25 Projected Interest For 2022/2023
NAV Tax Collection 293,870 288,311 288,311 Maximum Debt Service Collection
Total Revenues $ 293,887 $ 288,336 $ 288,336
EXPENDITURES
Principal Payments 75,000 80,000 85,000 Principal Payment Due In 2023
Interest Payments 211,750 207,527 203,031 Principal Payment Due In 2023
Bond Redemption 0 809 305 Estimated Excess Debt Collections
Total Expenditures $ 286,750 $ 288,336 $ 288,336
Excess!(Shortfall) $ 7,137 $ - $ -
•
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 8 November 1st
Issue Date= February 2019
Maturity Date= November 2049
Par Amount As Of 1/1/22= $4,320,000
3/12022 5:09 PM I V
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