Winding Cypress Community Development District

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

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 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2021/2022 BUDGET	
O & M Assessments	177,761	
Debt Assessments - Series 2015	526,216	
Debt Assessments - Series 2019	311,687	
Interest Income	180	
		
TOTAL REVENUES	$	1,015,844	
		
EXPENDITURES		
Supervisor Fees	1,200	
Payroll Taxes - Employer	96	
Engineering/Inspections	7,500	
Preserve Maintenance	79,700	
Management	36,588	
Legal	15,500	
Assessment Roll	5,000	
Audit Fees	4,000	
Arbitrage Rebate Fee	650	
Insurance	5,900	
Legal Advertisements	2,000	
Miscellaneous	750	
Postage	275	
Office Supplies	575	
Dues & Subscriptions	175	
Trustee Fee	7,800	
Continuing Disclosure Fee	2,000	
TOTAL EXPENDITURES	$	169,709	
		
REVENUES LESS EXPENDITURES	$	846,135	
		
Bond Payments - Series 2015	(486,750)	
Bond Payments - Series 2019	(288,311)	
		
BALANCE	71,074	
		
County Appraiser & Tax Collector Fee	(35,040)	
Discounts For Early Payments	(41,134)	
		
EXCESS/ (SHORTFALL)	$	(5,100)	
		
Carryover Funds From Prior Year	5,100	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED PROPOSED BUDGET
WINDING CYPRESS 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	178,278	177,811	177,761	Expenditures Less Interest & Carryover/.925	
Debt Assessments - Series 2015	526,536	526,216	526,216	Bond Payments/.925	
Debt Assessments - Series 2019	311,895	311,687	311,687	Bond Payments/.925	
Interest Income	193	180	180	Interest Projected At $15 Per Month	
					
TOTAL REVENUES	1,016,902	$	1,015,894	$	1,015,844		
					
EXPENDITURES					
Supervisor Fees	0	1,200	1,200	Supervisor Fees	
Payroll Taxes - Employer	0	96	96	Projected At 8% Of Supervisor Fees	
Engineering/Inspections	4,928	8,000	7,500	$500 Decrease From 2020/2021 Budget	
Preserve Maintenance	78,705	79,700	79,700	Fiscal Year 2020/2021 Expenditure Was $75,100	
Management	35,280	36,084	36,588	CPI Adjustment	
Legal	8,736	15,500	15,500	FY 2020/2021 Expenditure Through Feb 2021 Was $5,818	
Assessment Roll	5,000	5,000	5,000	As Per Contract	
Audit Fees	3,800	3,900	4,000	Accepted Amount Of 2020/2021 Audit	
Arbitrage Rebate Fee	650	650	650	No Change From 2020/2021 Budget	
Insurance	5,251	5,900	5,900	Insurance Estimate	
Legal Advertisements	2,286	1,800	2,000	$200 Increase From 2020/2021 Budget	
Miscellaneous	100	750	750	No Change From 2020/2021 Budget	
Postage	136	300	275	$25 Decrease From 2020/2021 Budget	
Office Supplies	231	600	575	$25 Decrease From 2020/2021 Budget	
Dues & Subscriptions	175	175	175	No Change From 2020/2021 Budget	
Trustee Fee	7,740	7,800	7,800	No Change From 2020/2021 Budget	
Continuing Disclosure Fee	2,000	2,000	2,000	No Change From 2020/2021 Budget	
TOTAL EXPENDITURES	155,018	$	169,455	$	169,709		
					
REVENUES LESS EXPENDITURES	861,884	$	846,439	$	846,135		
					
Bond Payments - Series 2015	(495,930)	(486,750)	(486,750)	2022 Principal & Interest Payments	
Bond Payments - Series 2019	(293,772)	(288,311)	(288,311)	2022 Principal & Interest Payments	
					
BALANCE	72,182	71,378	71,074		
					
County Appraiser & Tax Collector Fee	(21,521)	(35,042)	(35,040)	Three And One Half Percent Of Total Assessment Roll	
Discounts For Early Payments	(39,531)	(41,136)	(41,134)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	11,130	$	(4,800)	$	(5,100)		
					
Carryover Funds From Prior Year	0	4,800	5,100	Carryover Funds From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	11,130	$	-	$	-		

DETAILED PROPOSED DEBT SERVICE FUND (SERIES 2015) BUDGET
WINDING CYPRESS 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	
447	
225	
25	
Projected Interest For 2021/2022	

NAV Tax Collection	
495,930	
486,750	
486,750	
Maximum Debt Service Collection	

Total Revenues	
$	496,377	
$	486,975	
$	486,775		

EXPENDITURES					

Principal Payments	
135,000	
145,000	
155,000	
Principal Payment Due In 2022	

Interest Payments	
345,050	
336,750	
330,406	
Interest Payments Due In 2022	

Bond Redemption	
0	
5,225	
1,369	
Estimated Excess Debt Collections	

Total Expenditures	
$	480,050	
$	486,975	
$	486,775		

Excess/ (Shortfall)	

$	16,327	

$	-	

$	-		

Series 2015 Bond Information

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

Par Amount As Of 1/1/21 =	November 2045

$6,835,000			

DETAILED PROPOSED DEBT SERVICE (SERIES 2019) FUND BUDGET
WINDING CYPRESS 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	
240	
50	
25	
Projected Interest For 2021/2022	

Debt Service Bond Proceeds	
293,772	
0	
0		

NAV Tax Collection	
0	
288,311	
288,311	
Maximum Debt Service Collection	

Total Revenues	
$	294,012	
$	288,361	
$	288,336		

EXPENDITURES					

Principal Payments	
0	
75,000	
80,000	
Principal Payment Due In 2022	

Interest Payments	
251,643	
210,344	
207,527	
Interest Payments Due In 2022	

Bond Redemption	
0	
3,017	
809	
Estimated Excess Debt Collections	

Total Expenditures	
$	251,643	
$	288,361	
$	288,336		

Excess/ (Shortfall)	

$	42,369	

$	-	

$	-		

Series 2019 Bond Information

Original Par Amount =	$4,470,000	Annual Principal Payments Due =	November 1st	
Interest Rate =	3.75% - 5.00%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	February 2019			
Maturity Date =

Par Amount As Of 1/1/21 =	November 2049

$4,395,000			

WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

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

O & M For Phases 1 & 2 SF Villas	$	164.53	$	232.18	$	232.13	$	232.07	
Debt For Phases 1 & 2 SF Villas	$	835.00	$	849.00	$	849.00	$	849.00	
Total For Phases 1 & 2 SF Villas	$	999.53	$	1,081.18	$	1,081.13	$	1,081.07	
O & M For Phases 1 & 2 SF 50' Units	$	164.53	$	232.18	$	232.13	$	232.07	
Debt For Phases 1 & 2 SF 50' Units	$	939.00	$	954.00	$	954.00	$	954.00	
Total For Phases 1 & 2 SF 50' Units	$	1,103.53	$	1,186.18	$	1,186.13	$	1,186.07	
O & M For Phases 1 & 2 SF 65' Units	$	164.53	$	232.18	$	232.13	$	232.07	
Debt For Phases 1 & 2 SF 65' Units	$	1,043.00	$	1,060.00	$	1,060.00	$	1,060.00	
Total For Phases 1 & 2 SF 65' Units	$	1,207.53	$	1,292.18	$	1,292.13	$	1,292.07	
O & M For Phase 3 SF 50' Units	$	-	$	232.18	$	232.13	$	232.07	
Debt For Phase 3 SF 50' Units	$	-	$	1,429.00	$	1,429.00	$	1,429.00	
Total For Phase 3 SF 50' Units	$	-	$	1,661.18	$	1,661.13	$	1,661.07	
O & M For Phase 3 SF 65' Units	$	-	$	232.18	$	232.13	$	232.07	
Debt For Phase 3 SF 65' Units	$	-	$	1,544.00	$	1,544.00	$	1,544.00	
Total For Phase 3 SF 65' Units	$	-	$	1,776.18	$	1,776.13	$	1,776.07	
* Assessments Include the Following :	
Note:				
4% Discount for Early Payments	Changes In Debt Assessment				
2% County Tax Collector Fee	Rates From 18/19 to 19/20 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:	
Note:			
Phases 1 & 2:    554 Units	Villas:	152 Units	Villas:	0 Units	Developer made Phase 3 Bond Prepayment			
Phase 3:	212 Units	50' Lots:	270 Units	50' Lots:	136 Units	in January 2020 for 1 lot differential			
Total:	766 Units	65' Lots:	132 Units	65' Lots:	76 Units	(1 65' Lot Replaced with 1 50' Lot)			
	Total:	554 Units	Total:	212 Units