Marsh Harbour Community Development District

Final Budget For Fiscal Year 2020/2021
October 1, 2020 - September 30, 2021

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
MARSH HARBOUR COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2020/2021 BUDGET	
O & M Assessments	532,937	
Debt Assessments	253,887	
Other Revenues	0	
Interest Income	360	
		
TOTAL REVENUES	$	787,184	
		
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	33,516	
Secretarial	4,200	
Legal	12,000	
Assessment Roll	7,500	
Audit Fees	3,600	
Insurance	5,900	
Legal Advertisements	1,500	
Miscellaneous	900	
Postage	300	
Office Supplies	800	
Dues & Subscriptions	175	
Trustee Fee	2,500	
Continuing Disclosure Fee	350	
Website Management	2,000	
Reserve	2,800	
TOTAL EXPENDITURES	$	562,921	
		
REVENUES LESS EXPENDITURES	$	224,263	
		
Bond Payments	(238,654)	
		
BALANCE	$	(14,391)	
		
County Appraiser & Tax Collector Fee	(15,736)	
Discounts For Early Payments	(31,473)	
		
EXCESS/ (SHORTFALL)	$	(61,600)	
		
Carryover Funds From Prior Year	61,600	
		
NET EXCESS/ (SHORTFALL)	$	-	

8/10/2020 7:49 AM	I

DETAILED FINAL BUDGET
MARSH HARBOUR COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2018/2019 ACTUAL	
FISCAL YEAR 2019/2020 BUDGET	
FISCAL YEAR 2020/2021 BUDGET	

COMMENTS	
O & M Assessments	533,808	532,996	532,937	Expenditures Less Interest & Carryover/.94	
Debt Assessments	254,869	254,572	253,887	Bond Payments/.94	
Other Revenues	34,168	0	0		
Interest Income	876	360	360	Interest Projected At $30 Per Month	
					
TOTAL REVENUES	823,721	$	787,928	$	787,184		
					
EXPENDITURES					
Supervisor Fees	9,000	11,000	11,000	Supervisor Fees	
Payroll Taxes - Employer	794	880	880	Projected At 8% Of Supervisor Fees	
Engineering/Inspections	0	2,000	2,000	No Change From 2019/2020 Budget	
Lake Maintenance	7,800	10,000	10,000	No Change From 2019/2020 Budget	
Landscaping/Irrigation/Maintenance	116,259	132,000	132,000	No Change From 2019/2020 Budget	
Lighting	32,819	36,000	36,000	No Change From 2019/2020 Budget	
Security	217,871	250,000	250,000	No Change From 2019/2020 Budget	
Security - HOA/Police	37,953	43,000	43,000	No Change From 2019/2020 Budget	
Management	32,172	32,772	33,516	CPI Adjustment	
Secretarial	4,200	4,200	4,200	No Change From 2019/2020 Budget	
Legal	13,520	11,000	12,000	$1,000 Increase From 2019/2020 Budget	
Assessment Roll	7,500	7,500	7,500	As Per Contract	
Audit Fees	3,600	3,600	3,600	Accepted Amount For 2019/2020 Audit	
Insurance	5,000	6,000	5,900	Insurance Estimate	
Legal Advertisements	778	1,600	1,500	$100 Decrease From 2019/2020 Budget	
Miscellaneous	686	1,000	900	$100 Decrease From 2019/2020 Budget	
Postage	213	300	300	No Change From 2019/2020 Budget	
Office Supplies	757	800	800	No Change From 2019/2020 Budget	
Dues & Subscriptions	175	175	175	No Change From 2019/2020 Budget	
Trustee Fee	2,500	2,500	2,500	No Change From 2019/2020 Budget	
Continuing Disclosure Fee	350	350	350	No Change From 2019/2020 Budget	
Website Management	1,500	2,000	2,000	No Change From 2019/2020 Budget	
Reserve	0	4,300	2,800	Reserve	
TOTAL EXPENDITURES	495,447	$	562,977	$	562,921		
					
REVENUES LESS EXPENDITURES	328,274	$	224,951	$	224,263		
					
Bond Payments	(243,830)	(239,297)	(238,654)	2021 P & I Payments Less Earned Interest	
					
BALANCE	84,444	$	(14,346)	$	(14,391)		
					
County Appraiser & Tax Collector Fee	(3,919)	(15,751)	(15,736)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(26,796)	(31,503)	(31,473)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	53,729	$	(61,600)	$	(61,600)		
					
Carryover Funds From Prior Year	0	61,600	61,600	Carryover Funds From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	53,729	$	-	$	-		

8/10/2020 7:49 AM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET
MARSH HARBOUR COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	

FISCAL YEAR

2018/2019

ACTUAL	

FISCAL YEAR

2019/2020

BUDGET	

FISCAL YEAR

2020/2021

BUDGET	

COMMENTS	

Interest Income	
3,060	
100	
100	
Projected Interest For 2020/2021	

NAV Tax Collection	
243,830	
239,297	
238,654	
Maximum Debt Service Collection	

Prepaid Bond Collection	
5,396	
0	
0		

Total Revenues	
$	252,286	
$	239,397	
$	238,754		

EXPENDITURES					

Principal Payments	
140,000	
145,000	
150,000	
Principal Payment Due In 2021	

Interest Payments	
93,636	
86,751	
81,972	
Interest Payments Due In 2021	

Bond Redemption	
0	
7,646	
6,782	
Estimated Excess Debt Collections	

Total Expenditures	
$	233,636	
$	239,397	
$	238,754		

Excess/ (Shortfall)	

$	18,650	

$	-	

$	-		

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 1/1/20 =	May 2035

$2,750,000			

8/10/2020 7:49 AM	III

MARSH HARBOUR COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2017/2018	2018/2019	2019/2020	2020/2021	
   Assessment* 	   Assessment* 	   Assessment* 	   Projected Assessment* 	

O & M For Two Bedroom Units	
$	
1,325.98	
$	
1,325.96	
$	
1,325.87	
$	
1,325.72	
Debt For Two Bedroom Units	$	499.52	$	499.52	$	499.52	$	499.52	
Total For Two Bedroom Units	$	1,825.50	$	1,825.48	$	1,825.39	$	1,825.24	
O & M For Three Bedroom Units	$	1,325.98	$	1,325.96	$	1,325.87	$	1,325.72	
Debt For Three Bedroom Units	$	684.28	$	684.28	$	684.28	$	684.28	
Total For Three Bedroom Units	$	2,010.26	$	2,010.24	$	2,010.15	$	2,010.00	

* 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	
Three Bedroom Information		
Total Units	291	
Prepayments	1	
Billed For Debt	290	

8/10/2020 7:49 AM	IV