Marsh Harbour Community Development District

Final Budget For Fiscal Year 2019/2020
October 1, 2019 - September 30, 2020

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
MARSH HARBOUR COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2019/2020 BUDGET	
O & M Assessments	532,996	
Debt Assessments	254,572	
Other Revenues	0	
Interest Income	360	
		
TOTAL REVENUES	$		787,928	
		
EXPENDITURES		
Supervisor Fees	11,000	
Payroll Taxes - Employer	880	
Engineering/Inspections	2,000	
Lake Maintenance	10,000	
Landscaping/Irrigation/Maintenance	132,000	
Lighting	36,000	
Security	250,000	
Security - HOA/Police	43,000	
Management	32,772	
Secretarial	4,200	
Legal	11,000	
Assessment Roll	7,500	
Audit Fees	3,600	
Insurance	6,000	
Legal Advertisements	1,600	
Miscellaneous	1,000	
Postage	300	
Office Supplies	800	
Dues & Subscriptions	175	
Trustee Fee	2,500	
Continuing Disclosure Fee	350	
Website Management	2,000	
Reserve	4,300	
TOTAL EXPENDITURES	$		562,977	
		
REVENUES LESS EXPENDITURES	$		224,951	
		
Bond Payments	(239,297)	
		
BALANCE	$		(14,346)	
		
County Appraiser & Tax Collector Fee	(15,751)	
Discounts For Early Payments	(31,503)	
		
EXCESS/ (SHORTFALL)	$		(61,600)	
		
Carryover Funds From Prior Year	61,600	
		
NET EXCESS/ (SHORTFALL)	$		-	

6/11/2019 12:39 PM	I

DETAILED FINAL BUDGET
MARSH HARBOUR COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2017/2018 ACTUAL	
FISCAL YEAR 2018/2019 BUDGET	
FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	
O & M Assessments	535,330	533,034	532,996	Expenditures Less Interest & Carryover/.94	
Debt Assessments	255,475	254,572	254,572	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	833	300	360	Interest Projected At $30 Per Month	
					
TOTAL REVENUES	791,638	$	787,906	$	787,928		
					
EXPENDITURES					
Supervisor Fees	11,600	10,000	11,000	Supervisor Fees	
Payroll Taxes - Employer	887	800	880	Projected At 8% Of Supervisor Fees	
Engineering/Inspections	0	2,500	2,000	$500 Decrease From 2018/2019 Budget	
Lake Maintenance	7,800	10,500	10,000	$500 Decrease From 2018/2019 Budget	
Landscaping/Irrigation/Maintenance	129,446	132,000	132,000	No Change From 2018/2019 Budget	
Lighting	34,698	36,000	36,000	No Change From 2018/2019 Budget	
Security	216,224	250,000	250,000	FY 18/19 Expenditure Through Jan 19 Was $73,357	
Security - HOA/Police	37,395	43,000	43,000	No Change From 2018/2019 Budget	
Management	31,512	32,172	32,772	CPI Adjustment	
Secretarial	4,200	4,200	4,200	No Change From 2018/2019 Budget	
Legal	11,890	11,000	11,000	No Change From 2018/2019 Budget	
Assessment Roll	7,500	7,500	7,500	As Per Contract	
Audit Fees	3,600	3,700	3,600	$100 Decrease From 2018/2019 Budget	
Insurance	5,778	6,356	6,000	Insurance Estimate	
Legal Advertisements	1,231	1,700	1,600	$100 Decrease From 2018/2019 Budget	
Miscellaneous	887	1,000	1,000	No Change From 2018/2019 Budget	
Postage	169	300	300	$25 Decrease From 2018/2019 Budget	
Office Supplies	828	750	800	$50 Increase From 2018/2019 Budget	
Dues & Subscriptions	175	175	175	No Change From 2018/2019 Budget	
Trustee Fee	2,500	2,500	2,500	No Change From 2018/2019 Budget	
Continuing Disclosure Fee	350	350	350	No Change From 2018/2019 Budget	
Website Management	1,500	1,500	2,000	$500 Increase From 2018/2019 Budget	
Reserve	0	5,000	4,300	Reserve	
TOTAL EXPENDITURES	510,170	$	563,003	$	562,977		
					
REVENUES LESS EXPENDITURES	281,468	$	224,903	$	224,951		
					
Bond Payments	(244,478)	(239,297)	(239,297)	2020 P & I Payments Less Earned Interest	
					
BALANCE	36,990	$	(14,394)	$	(14,346)		
					
County Appraiser & Tax Collector Fee	(4,201)	(15,752)	(15,751)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(26,645)	(31,504)	(31,503)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	6,144	$	(61,650)	$	(61,600)		
					
Carryover Funds From Prior Year	0	61,650	61,600	Carryover Funds From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	6,144	$	-	$	-		

6/11/2019 12:39 PM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET
MARSH HARBOUR COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	

FISCAL YEAR

2017/2018

ACTUAL	

FISCAL YEAR

2018/2019

BUDGET	

FISCAL YEAR

2019/2020

BUDGET	

COMMENTS	

Interest Income	

1,776	

50	

100	

Projected Interest For 2019/2020	

NAV Tax Collection	

244,478	

239,297	

239,297	

Maximum Debt Service Collection	

Total Revenues	

$	246,254	

$	239,347	

$	239,397		

EXPENDITURES					

Principal Payments	

140,000	

140,000	

145,000	

Principal Payment Due In 2020	

Interest Payments	

98,172	

91,368	

86,751	

Interest Payments Due In 2020	

Bond Redemption	

0	

7,979	

7,646	

Estimated Excess Debt Collections	

Total Expenditures	

$	238,172	

$	239,347	

$	239,397		

Excess/ (Shortfall)	

$	8,082	

$	-	

$	-		

Series 2015 Bond Refunding Information

Original Par Amount =	$3,295,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	3.24% - 5.45%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	August 2015			
Maturity Date =

Par Amount As Of 1/1/19 =	May 2035

$2,890,000			

6/11/2019 12:39 PM	III

MARSH HARBOUR COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2016/2017	2017/2018	2018/2019	2019/2020	
   Assessment* 	   Assessment* 	   Assessment* 	   Projected Assessment* 	

O & M For Two Bedroom Units	$	1,326.16	$	1,325.98	$	1,325.96	$	1,325.87	
Debt For Two Bedroom Units	$ 	499.52	$ 	499.52	$ 	499.52	$	499.52	
Total For Two Bedroom Units	$	1,825.68	$	1,825.50	$	1,825.48	$	1,825.39	

O & M For Three Bedroom Units	
$	
1,326.16	
$	
1,325.98	
$	
1,325.96	
$	1,325.87	
Debt For Three Bedroom Units	$ 	684.28	$ 	684.28	$ 	684.28	$	684.28	
Total For Three Bedroom Units	$	2,010.44	$	2,010.26	$	2,010.24	$	2,010.15	

* Assessments Include the Following : 4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee

Community Information: 
Two Bedroom Units	111
Three Bedroom Units	291
Total Units	402

6/11/2019  12:39 PM	IV