Winding Cypress Community Development District

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

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET (SERIES 2015) IV   DETAILED PROPOSED DEBT SERVICE FUND BUDGET (SERIES 2019) V	ASSESSMENT COMPARISON

PROPOSED BUDGET
WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2019/2020 BUDGET	
O & M Assessments	177,850	
Debt Assessments - Series 2015	526,216	
Debt Assessments - Series 2019	311,786	
Interest Income	180	
		
TOTAL REVENUES	$	1,016,032	
		
EXPENDITURES		
Supervisor Fees	1,200	
Payroll Taxes - Employer	96	
Engineering/Inspections	5,500	
Preserve Maintenance	76,940	
Management	35,280	
Legal	16,000	
Assessment Roll	5,000	
Audit Fees	4,400	
Arbitrage Rebate Fee	650	
Insurance	6,000	
Legal Advertisements	2,000	
Miscellaneous	750	
Postage	300	
Office Supplies	600	
Dues & Subscriptions	175	
Trustee Fee	7,800	
Continuing Disclosure Fee	2,000	
TOTAL EXPENDITURES	$	164,691	
		
REVENUES LESS EXPENDITURES	$	851,341	
		
Bond Payments - Series 2015	(486,750)	
Bond Payments - Series 2019	(288,402)	
		
BALANCE	76,189	
		
County Appraiser & Tax Collector Fee	(35,047)	
Discounts For Early Payments	(41,142)	
		
EXCESS/ (SHORTFALL)	$	-	
		
Carryover Funds From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED PROPOSED BUDGET
WINDING CYPRESS 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	92,949	89,833	177,850	Expenditures Less Interest/.925	
Debt Assessments - Series 2015	528,035	517,686	526,216	Bond Payments/.925	
Debt Assessments - Series 2019	0	0	311,786	Bond Payments/.925	
Interest Income	227	120	180	Interest Projected At $15 Per Month	
					
TOTAL REVENUES	621,211	$	607,639	$	1,016,032		
					
EXPENDITURES					
Supervisor Fees	0	0	1,200	Supervisor Fees	
Payroll Taxes - Employer	0	0	96	Projected At 8% Of Supervisor Fees	
Engineering/Inspections	5,373	3,500	5,500	$2,000 Increase From 2018/2019 Budget	
Preserve Maintenance	0	0	76,940	Preserve Maintenance	
Management	33,924	34,632	35,280	CPI Adjustment	
Legal	6,852	16,250	16,000	FY 2018/2019 Expenditure Through Feb 2019 Was $3,450	
Assessment Roll	5,000	5,000	5,000	As Per Contract	
Audit Fees	3,300	3,400	4,400	Increased Due To Second Bond Issue	
Arbitrage Rebate Fee	650	650	650	No Change From 2018/2019 Budget	
Insurance	5,610	6,172	6,000	Insurance Estimate	
Legal Advertisements	1,611	2,700	2,000	$700 Decrease From 2018/2019 Budget	
Miscellaneous	183	750	750	No Change From 2018/2019 Budget	
Postage	338	250	300	$50 Increase From 2018/2019 Budget	
Office Supplies	254	650	600	$50 Decrease From 2018/2019 Budget	
Dues & Subscriptions	175	175	175	No Change From 2018/2019 Budget	
Trustee Fee	3,709	3,780	7,800	Increased Due To Second Bond Issue	
Continuing Disclosure Fee	1,000	1,000	2,000	Increased Due To Second Bond Issue	
TOTAL EXPENDITURES	67,979	$	78,909	$	164,691		
					
REVENUES LESS EXPENDITURES	553,232	$	528,730	$	851,341		
					
Bond Payments - Series 2015	(491,720)	(486,625)	(486,750)	2020 Principal & Interest Payments	
Bond Payments - Series 2019	0	-	(288,402)	2020 Principal & Interest Payments	
					
BALANCE	61,512	42,105	76,189		
					
County Appraiser & Tax Collector Fee	(8,270)	(18,045)	(35,047)	Three And One Half Percent Of Total Assessment Roll	
Discounts For Early Payments	(18,691)	(24,060)	(41,142)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	34,551	$	-	$	-		
					
Carryover Funds From Prior Year	0	0	0	Carryover Funds From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	34,551	$	-	$	-		

DETAILED PROPOSED DEBT SERVICE FUND (SERIES 2015) BUDGET
WINDING CYPRESS 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	
1,147	
225	
225	
Projected Interest For 2019/2020	

NAV Tax Collection	
491,720	
486,625	
486,750	
Maximum Debt Service Collection	

Total Revenues	
$	492,867	
$	486,850	
$	486,975		

EXPENDITURES					

Principal Payments	
125,000	
135,000	
140,000	
Principal Payment Due In 2020	

Interest Payments	
355,450	
347,750	
342,350	
Interest Payments Due In 2020	

Bond Redemption	
0	
4,100	
4,625	
Estimated Excess Debt Collections	

Total Expenditures	
$	480,450	
$	486,850	
$	486,975		

Excess/ (Shortfall)	

$	12,417	

$	-	

$	-		

Series 2015 Bond Information

Original Par Amount =	$7,535,000	Annual Principal Payments Due =	November 1st	
Interest Rate = Issue Date = Maturity Date =	4.00% - 5.00%
December 2015
November 2045	Annual Interest Payments Due =	May 1st & November 1st	

Par Amount As Of 3/1/19 =	
$7,110,000			

DETAILED PROPOSED DEBT SERVICE (SERIES 2019) FUND BUDGET
WINDING CYPRESS 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	
0	
0	
50	
Projected Interest For 2019/2020	

NAV Tax Collection	
0	
0	
288,402	
Maximum Debt Service Collection	

Total Revenues	
$	-	
$	-	
$	288,452		

EXPENDITURES					

Principal Payments	
0	
0	
75,000	
Principal Payment Due In 2020	

Interest Payments	
0	
0	
213,156	
Interest Payments Due In 2020	

Bond Redemption	
0	
0	
296	
Estimated Excess Debt Collections	

Total Expenditures	
$	-	
$	-	
$	288,452		

Excess/ (Shortfall)	

$	-	

$	-	

$	-		

Series 2019 Bond Information

Original Par Amount =	$7,535,000	Annual Principal Payments Due =	November 1st	
Interest Rate = Issue Date = Maturity Date =	3.75% - 5.00%
February 2019
November 2049	Annual Interest Payments Due =	May 1st & November 1st	

Par Amount As Of 3/1/19 =	
$4,470,000			

WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

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

O & M For Phases 1 & 2 SF Villas	$

164.53	$

164.53	$

232.18

Debt For Phases 1 & 2 SF Villas

$	835.00

$	835.00

$	849.00

Total For Phases 1 & 2 SF Villas	$

999.53	$

999.53	$

1,081.18

O & M For Phases 1 & 2 SF 50' Units	$

164.53	$

164.53	$

232.18

Debt For Phases 1 & 2 SF 50' Units

$	939.00

$	939.00

$	954.00

Total For Phases 1 & 2 SF 50' Units	$

1,103.53	$

1,103.53	$

1,186.18

O & M For Phases 1 & 2 SF 65' Units	$

164.53	$

164.53	$

232.18

Debt For Phases 1 & 2 SF 65' Units

$	1,043.00

$	1,043.00

$	1,060.00

Total For Phases 1 & 2 SF 65' Units	$

1,207.53	$

1,207.53	$

1,292.18

O & M For Phase 3 SF 50' Units	$	-	$	-	$	232.18

Debt For Phase 3 SF 50' Units

$	-	$	- 

$	1,429.00

Total For Phase 3 SF 50' Units	$	-	$	-	$	1,661.18
O & M For Phase 3 SF 65' Units	$	-	$	-	$	232.18

Debt For Phase 3 SF 65' Units

$	-	$	- 

$	1,544.00

Total For Phase 3 SF 65' Units	$	-	$	-	$	1,776.18

* Assessments Include the Following :	Note:
4% Discount for Early Payments	Changes In Debt Assessment
2% County Tax Collector Fee	Rates From Prior Year Due To
1.5% County Property Appraiser Fee	Fees Rate Adjustment In
Updated Methodologies. Debt Rates Did Not Increase. Property Appraiser Fees Were Included In O&M.

Community Information:	Phases 1 & 2:	Phase 3:
Phases 1 & 2:    554 Units	Villas:	152 Units	Villas:	0 Units
Phase 3:	212 Units	50' Lots:	270 Units	50' Lots:	135 Units
Total:	766 Units	65' Lots:	132 Units	65' Lots:	77 Units
Total:	554 Units	Total:	212 Units

4/3/2019  8:16 AM	V