Marsh Harbour Community Development District

Final Budget For Fiscal Year 2024/2025
October 1, 2024 - September 30, 2025

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

FINAL BUDGET
MARSH HARBOUR COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	
FISCAL YEAR 2024/2025 BUDGET	
O & M Assessments	732,129	
Debt Assessments	253,887	
Other Revenues	0	
Interest Income	720	
		
TOTAL REVENUES	$	986,736	
		
EXPENDITURES		
Supervisor Fees	11,000	
Payroll Taxes - Employer	880	
Engineering/Inspections	2,000	
Lake Maintenance	11,000	
Landscaping/Irrigation/Maintenance	150,000	
Lighting	35,000	
Security	380,000	
Management	37,116	
Secretarial	4,200	
Legal	14,000	
Assessment Roll	7,500	
Audit Fees	3,500	
Insurance	7,200	
Legal Advertisements	1,400	
Miscellaneous	800	
Postage	300	
Office Supplies	700	
Dues & Subscriptions	175	
Trustee Fee	2,500	
Continuing Disclosure Fee	350	
Website Management	2,000	
Reserve/Contingency	17,300	
TOTAL EXPENDITURES	$	688,921	
		
REVENUES LESS EXPENDITURES	$	297,815	
		
Bond Payments	(238,654)	
		
BALANCE	$	59,161	
		
County Appraiser & Tax Collector Fee	(19,720)	
Discounts For Early Payments	(39,441)	
		
EXCESS/ (SHORTFALL)	$	-	
		
Carryover Funds From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED FINAL BUDGET
MARSH HARBOUR COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	
FISCAL YEAR 2022/2023 ACTUAL	
FISCAL YEAR 2023/2024 BUDGET	
FISCAL YEAR 2024/2025 BUDGET	

COMMENTS	
O & M Assessments	679,655	678,996	732,129	Expenditures Less Interest & Carryover/.94	
Debt Assessments	253,940	253,887	253,887	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	11,046	360	720	Interest Projected At $60 Per Month	
					
TOTAL REVENUES	$	944,641	$	933,243	$	986,736		
					
EXPENDITURES					
Supervisor Fees	9,000	11,000	11,000	Supervisor Fees	
Payroll Taxes - Employer	689	880	880	Projected At 8% Of Supervisor Fees	
Engineering/Inspections	0	2,000	2,000	No Change From 2023/2024 Budget	
Lake Maintenance	10,550	11,000	11,000	No Change From 2023/2024 Budget	
Landscaping/Irrigation/Maintenance	142,503	150,000	150,000	2023/2024 Expenditure Through 1-31-24 = $41,220	
Lighting	33,539	35,000	35,000	No Change From 2023/2024 Budget	
Security	315,574	330,000	380,000	$50,000 Increase From 2023/2024 Budget	
Management	34,992	36,036	37,116	CPI Adjustment (Capped At 3%)	
Secretarial	4,200	4,200	4,200	No Change From 2023/2024 Budget	
Legal	17,355	14,000	14,000	2023/2024 Expenditure Through 12-31-23 = $2,363	
Assessment Roll	7,500	7,500	7,500	As Per Contract	
Audit Fees	3,600	3,700	3,500	Accepted Amount For 2023/2024 Audit	
Insurance	6,134	6,700	7,200	Fiscal Year 2023/2024 Expenditure Was $6,594	
Legal Advertisements	1,060	1,400	1,400	No Change From 2023/2024 Budget	
Miscellaneous	587	800	800	No Change From 2023/2024 Budget	
Postage	122	300	300	No Change From 2023/2024 Budget	
Office Supplies	633	725	700	$25 Decrease From 2023/2024 Budget	
Dues & Subscriptions	175	175	175	No Change From 2023/2024 Budget	
Trustee Fee	2,500	2,500	2,500	No Change From 2023/2024 Budget	
Continuing Disclosure Fee	350	350	350	No Change From 2023/2024 Budget	
Website Management	2,000	2,000	2,000	No Change From 2023/2024 Budget	
Reserve/Contingency	307	18,350	17,300	Reserve/Contingency	
TOTAL EXPENDITURES	$	593,370	$	638,616	$	688,921		
					
REVENUES LESS EXPENDITURES	$	351,271	$	294,627	$	297,815		
					
Bond Payments	(242,684)	(238,654)	(238,654)	2025 Principal & Interest Payments	
					
BALANCE	$	108,587	$	55,973	$	59,161		
					
County Appraiser & Tax Collector Fee	(5,864)	(18,658)	(19,720)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(32,460)	(37,315)	(39,441)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	70,263	$	-	$	-		
					
Carryover Funds From Prior Year	0	0	0	Carryover Funds From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	70,263	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND BUDGET
MARSH HARBOUR COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	

FISCAL YEAR

2022/2023

ACTUAL	

FISCAL YEAR

2023/2024

BUDGET	

FISCAL YEAR

2024/2025

BUDGET	

COMMENTS	

Interest Income	
7,926	
100	
500	
Projected Interest For 2024/2025	

NAV Tax Collection	
242,684	
238,654	
238,654	
Maximum Debt Service Collection	

Total Revenues	
$	250,610	
$	238,754	
$	239,154		

EXPENDITURES					

Principal Payments	
160,000	
165,000	
165,000	
Principal Payment Due In 2025	

Interest Payments	
74,358	
66,501	
68,468	
Interest Payments Due In 2025	

Bond Redemption	
0	
7,253	
5,686	
Estimated Excess Debt Collections	

Total Expenditures	
$	234,358	
$	238,754	
$	239,154		

Excess/ (Shortfall)	

$	16,252	

$	-	

$	-		

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 1/1/24 =	May 2035

$2,135,000			

MARSH HARBOUR COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2021/2022	2022/2023	2023/2024	2024/2025	
 Assessment* 	 Assessment* 	 Assessment* 	 Projected Assessment* 	

O & M For Two Bedroom Units	
$	1,325.65	
$	1,689.13	
$	1,689.05	
$	
1,821.22	
Debt For Two Bedroom Units	$	499.52	$	499.52	$	499.52	$	499.52	
Total For Two Bedroom Units	$	1,825.17	$	2,188.65	$	2,188.57	$	2,320.74	
O & M For Three Bedroom Units	$	1,325.65	$	1,689.13	$	1,689.05	$	1,821.22	
Debt For Three Bedroom Units	$	684.28	$	684.28	$	684.28	$	684.28	
Total For Three Bedroom Units	$	2,009.93	$	2,373.41	$	2,373.33	$	2,505.50	

* 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	

5/17/2024 4:15 PM	IV