Marsh Harbour Community Development District

Final Budget For Fiscal Year 2022/2023
October 1, 2022 - September 30, 2023

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
MARSH HARBOUR COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2022/2023 BUDGET	
O & M Assessments	679,029	
Debt Assessments	253,887	
Other Revenues	0	
Interest Income	360	
		
TOTAL REVENUES	$	933,276	
		
EXPENDITURES		
Supervisor Fees	11,000	
Payroll Taxes - Employer	880	
Engineering/Inspections	2,000	
Lake Maintenance	12,000	
Landscaping/Irrigation/Maintenance	150,000	
Lighting	35,000	
Security	330,000	
Security - HOA/Police	0	
Security - Fencing	0	
Management	34,992	
Secretarial	4,200	
Legal	13,000	
Assessment Roll	7,500	
Audit Fees	3,600	
Insurance	6,100	
Legal Advertisements	1,500	
Miscellaneous	800	
Postage	300	
Office Supplies	750	
Dues & Subscriptions	175	
Trustee Fee	2,500	
Continuing Disclosure Fee	350	
Website Management	2,000	
Reserve/Contingency	20,000	
TOTAL EXPENDITURES	$	638,647	
		
REVENUES LESS EXPENDITURES	$	294,629	
		
Bond Payments	(238,654)	
		
BALANCE	$	55,975	
		
County Appraiser & Tax Collector Fee	(18,658)	
Discounts For Early Payments	(37,317)	
		
EXCESS/ (SHORTFALL)	$	-	
		
Carryover Funds From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED FINAL BUDGET
MARSH HARBOUR COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2020/2021 ACTUAL	
FISCAL YEAR 2021/2022 BUDGET	
FISCAL YEAR 2022/2023 BUDGET	

COMMENTS	
O & M Assessments	532,670	532,908	679,029	Expenditures Less Interest & Carryover/.94	
Debt Assessments	253,709	253,887	253,887	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	393	360	360	Interest Projected At $30 Per Month	
					
TOTAL REVENUES	786,772	$	787,155	$	933,276		
					
EXPENDITURES					
Supervisor Fees	9,600	11,000	11,000	Supervisor Fees	
Payroll Taxes - Employer	734	880	880	Projected At 8% Of Supervisor Fees	
Engineering/Inspections	0	2,000	2,000	No Change From 2021/2022 Budget	
Lake Maintenance	8,015	12,000	12,000	No Change From 2021/2022 Budget	
Landscaping/Irrigation/Maintenance	156,953	136,000	150,000	2021/2022 Expenditure Through 2-28-22 = $59,641	
Lighting	30,994	35,000	35,000	No Change From 2021/2022 Budget	
Security	246,464	250,000	330,000	(Hi-Tek: $312,049 - Other: $17,951)	
Security - HOA/Police	41,344	45,000	0	Line Item Eliminated	
Security - Fencing	25,272	0	0	Fiscal Year 2020/2021 Expenditure	
Management	33,516	33,984	34,992	CPI Adjustment (Capped At 3%)	
Secretarial	4,200	4,200	4,200	No Change From 2020/2021 Budget	
Legal	13,565	12,000	13,000	2021/2022 Expenditure Through 1-31-22 = $4,380	
Assessment Roll	7,500	7,500	7,500	As Per Contract	
Audit Fees	3,600	3,600	3,600	Accepted Amount For 2021/2022 Audit	
Insurance	5,513	5,900	6,100	Insurance Estimate	
Legal Advertisements	1,135	1,500	1,500	No Change From 2021/2022 Budget	
Miscellaneous	660	800	800	No Change From 2021/2022 Budget	
Postage	124	300	300	No Change From 2021/2022 Budget	
Office Supplies	505	775	750	$25 Decrease From 2021/2022 Budget	
Dues & Subscriptions	175	175	175	No Change From 2021/2022 Budget	
Trustee Fee	2,500	2,500	2,500	No Change From 2021/2022 Budget	
Continuing Disclosure Fee	350	350	350	No Change From 2021/2022 Budget	
Website Management	2,000	2,000	2,000	No Change From 2021/2022 Budget	
Reserve/Contingency	1,200	2,000	20,000	Reserve/Contingency	
TOTAL EXPENDITURES	595,919	$	569,464	$	638,647		
					
REVENUES LESS EXPENDITURES	190,853	$	217,691	$	294,629		
					
Bond Payments	(242,651)	(238,654)	(238,654)	2023 P & I Payments Less Earned Interest	
					
BALANCE	(51,798)	$	(20,963)	$	55,975		
					
County Appraiser & Tax Collector Fee	(4,773)	(15,735)	(18,658)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(26,773)	(31,472)	(37,317)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	(83,344)	$	(68,170)	$	-		
					
Carryover Funds From Prior Year	0	68,170	0	Carryover Funds From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	(83,344)	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND BUDGET
MARSH HARBOUR COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	

FISCAL YEAR

2020/2021

ACTUAL	

FISCAL YEAR

2021/2022

BUDGET	

FISCAL YEAR

2022/2023

BUDGET	

COMMENTS	

Interest Income	
57	
25	
25	
Projected Interest For 2022/2023	

NAV Tax Collection	
242,651	
238,654	
238,654	
Maximum Debt Service Collection	

Total Revenues	
$	242,708	
$	238,679	
$	238,679		

EXPENDITURES					

Principal Payments	
150,000	
160,000	
160,000	
Principal Payment Due In 2023	

Interest Payments	
84,402	
76,950	
71,766	
Interest Payments Due In 2023	

Bond Redemption	
0	
1,729	
6,913	
Estimated Excess Debt Collections	

Total Expenditures	
$	234,402	
$	238,679	
$	238,679		

Excess/ (Shortfall)	

$	8,306	

$	-	

$	-		

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 1/1/22 =	May 2035

$2,455,000			

MARSH HARBOUR COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

Fiscal Year 2019/2020
 Assessment* 	Fiscal Year 2020/2021
 Assessment* 	Fiscal Year 2021/2022
 Assessment* 	Fiscal Year 2022/2023
 Projected Assessment* 	

O & M For Two Bedroom Units	
$	
1,325.87	
$	
1,325.72	
$	
1,325.65	
$	
1,689.13	
Debt For Two Bedroom Units	$	499.52	$	499.52	$	499.52	$	499.52	
Total For Two Bedroom Units	$	1,825.39	$	1,825.24	$	1,825.17	$	2,188.65	
O & M For Three Bedroom Units	$	1,325.87	$	1,325.72	$	1,325.65	$	1,689.13	
Debt For Three Bedroom Units	$	684.28	$	684.28	$	684.28	$	684.28	
Total For Three Bedroom Units	$	2,010.15	$	2,010.00	$	2,009.93	$	2,373.41	

* 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	

6/17/2022 3:05 PM	IV