Marsh Harbour Community Development District

Final Budget For Fiscal Year 2021/2022
October 1, 2021 - September 30, 2022

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
MARSH HARBOUR COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2021/2022 BUDGET	
O & M Assessments	532,908	
Debt Assessments	253,887	
Other Revenues	0	
Interest Income	360	
		
TOTAL REVENUES	$	787,155	
		
EXPENDITURES		
Supervisor Fees	11,000	
Payroll Taxes - Employer	880	
Engineering/Inspections	2,000	
Lake Maintenance	12,000	
Landscaping/Irrigation/Maintenance	136,000	
Lighting	35,000	
Security	250,000	
Security - HOA/Police	45,000	
Management	33,984	
Secretarial	4,200	
Legal	12,000	
Assessment Roll	7,500	
Audit Fees	3,600	
Insurance	5,900	
Legal Advertisements	1,500	
Miscellaneous	800	
Postage	300	
Office Supplies	775	
Dues & Subscriptions	175	
Trustee Fee	2,500	
Continuing Disclosure Fee	350	
Website Management	2,000	
Reserve	2,000	
TOTAL EXPENDITURES	$	569,464	
		
REVENUES LESS EXPENDITURES	$	217,691	
		
Bond Payments	(238,654)	
		
BALANCE	$	(20,963)	
		
County Appraiser & Tax Collector Fee	(15,735)	
Discounts For Early Payments	(31,472)	
		
EXCESS/ (SHORTFALL)	$	(68,170)	
		
Carryover Funds From Prior Year	68,170	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED FINAL BUDGET
MARSH HARBOUR COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2019/2020 ACTUAL	
FISCAL YEAR 2020/2021 BUDGET	
FISCAL YEAR 2021/2022 BUDGET	

COMMENTS	
O & M Assessments	532,453	532,937	532,908	Expenditures Less Interest & Carryover/.94	
Debt Assessments	253,506	253,887	253,887	Bond Payments/.94	
Other Revenues	1,614	0	0		
Interest Income	466	360	360	Interest Projected At $30 Per Month	
					
TOTAL REVENUES	788,039	$	787,184	$	787,155		
					
EXPENDITURES					
Supervisor Fees	7,000	11,000	11,000	Supervisor Fees	
Payroll Taxes - Employer	536	880	880	Projected At 8% Of Supervisor Fees	
Engineering/Inspections	0	2,000	2,000	No Change From 2020/2021 Budget	
Lake Maintenance	28,480	10,000	12,000	$2,000 Increase From 2020/2021 Budget	
Landscaping/Irrigation/Maintenance	144,494	132,000	136,000	$4,000 Increase From 2020/2021 Budget	
Lighting	32,151	36,000	35,000	$1,000 Decrease From 2020/2021 Budget	
Security	237,854	250,000	250,000	No Change From 2020/2021 Budget	
Security - HOA/Police	46,070	43,000	45,000	$2,000 Increase From 2020/2021 Budget	
Management	32,772	33,516	33,984	CPI Adjustment	
Secretarial	4,200	4,200	4,200	No Change From 2020/2021 Budget	
Legal	9,885	12,000	12,000	No Change From 2020/2021 Budget	
Assessment Roll	7,500	7,500	7,500	As Per Contract	
Audit Fees	3,600	3,600	3,600	Accepted Amount For 2020/2021 Audit	
Insurance	5,251	5,900	5,900	Insurance Estimate	
Legal Advertisements	2,356	1,500	1,500	No Change From 2020/2021 Budget	
Miscellaneous	555	900	800	$100 Decrease From 2020/2021 Budget	
Postage	110	300	300	No Change From 2020/2021 Budget	
Office Supplies	464	800	775	$25 Decrease From 2020/2021 Budget	
Dues & Subscriptions	175	175	175	No Change From 2020/2021 Budget	
Trustee Fee	2,500	2,500	2,500	No Change From 2020/2021 Budget	
Continuing Disclosure Fee	350	350	350	No Change From 2020/2021 Budget	
Website Management	2,000	2,000	2,000	No Change From 2020/2021 Budget	
Reserve	0	2,800	2,000	Reserve	
TOTAL EXPENDITURES	568,303	$	562,921	$	569,464		
					
REVENUES LESS EXPENDITURES	219,736	$	224,263	$	217,691		
					
Bond Payments	(242,634)	(238,654)	(238,654)	2022 P & I Payments Less Earned Interest	
					
BALANCE	(22,898)	$	(14,391)	$	(20,963)		
					
County Appraiser & Tax Collector Fee	(3,997)	(15,736)	(15,735)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(26,252)	(31,473)	(31,472)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	(53,147)	$	(61,600)	$	(68,170)		
					
Carryover Funds From Prior Year	0	61,600	68,170	Carryover Funds From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	(53,147)	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND BUDGET
MARSH HARBOUR COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	

FISCAL YEAR

2019/2020

ACTUAL	

FISCAL YEAR

2020/2021

BUDGET	

FISCAL YEAR

2021/2022

BUDGET	

COMMENTS	

Interest Income	
1,288	
100	
25	
Projected Interest For 2021/2022	

NAV Tax Collection	
242,634	
238,654	
238,654	
Maximum Debt Service Collection	

Total Revenues	
$	243,922	
$	238,754	
$	238,679		

EXPENDITURES					

Principal Payments	
145,000	
150,000	
160,000	
Principal Payment Due In 2022	

Interest Payments	
89,100	
81,972	
76,950	
Interest Payments Due In 2022	

Bond Redemption	
0	
6,782	
1,729	
Estimated Excess Debt Collections	

Total Expenditures	
$	234,100	
$	238,754	
$	238,679		

Excess/ (Shortfall)	

$	9,822	

$	-	

$	-		

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 1/1/21 =	May 2035

$2,605,000			

MARSH HARBOUR COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

Fiscal Year 2018/2019
   Assessment*  	Fiscal Year 2019/2020
   Assessment*  	Fiscal Year 2020/2021
   Assessment*  	Fiscal Year 2021/2022
   Projected Assessment*  	

O & M For Two Bedroom Units	
$	
1,325.96	
$	
1,325.87	
$	
1,325.72	
$	
1,325.65	
Debt For Two Bedroom Units	$	499.52	$	499.52	$	499.52	$	499.52	
Total For Two Bedroom Units	$	1,825.48	$	1,825.39	$	1,825.24	$	1,825.17	
O & M For Three Bedroom Units	$	1,325.96	$	1,325.87	$	1,325.72	$	1,325.65	
Debt For Three Bedroom Units	$	684.28	$	684.28	$	684.28	$	684.28	
Total For Three Bedroom Units	$	2,010.24	$	2,010.15	$	2,010.00	$	2,009.93	

* 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	

5/9/2021 7:56 AM	IV