Winding Cypress 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 (SERIES 2015) IV   DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2019) V	ASSESSMENT COMPARISON

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

REVENUES	
FISCAL YEAR 2022/2023 BUDGET	
O & M Assessments	177,752	
Debt Assessments - Series 2015	526,216	
Debt Assessments - Series 2019	311,687	
Interest Income	180	
		
TOTAL REVENUES	$	1,015,835	
		
EXPENDITURES		
Supervisor Fees	1,200	
Payroll Taxes - Employer	96	
Engineering/Inspections	8,500	
Preserve Maintenance	79,700	
Lake Bank Maintenance	25,000	
Management	37,680	
Legal	15,500	
Assessment Roll	5,000	
Audit Fees	4,100	
Arbitrage Rebate Fee	650	
Insurance	6,000	
Legal Advertisements	2,500	
Miscellaneous	750	
Postage	275	
Office Supplies	550	
Dues & Subscriptions	175	
Trustee Fee	7,800	
Continuing Disclosure Fee	1,500	
TOTAL EXPENDITURES	$	196,976	
		
REVENUES LESS EXPENDITURES	$	818,859	
		
Bond Payments - Series 2015	(486,750)	
Bond Payments - Series 2019	(288,311)	
		
BALANCE	43,798	
		
County Appraiser & Tax Collector Fee	(35,039)	
Discounts For Early Payments	(41,134)	
		
EXCESS/ (SHORTFALL)	$	(32,375)	
		
Carryover Funds From Prior Year	32,375	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED FINAL BUDGET
WINDING CYPRESS 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	178,107	177,761	177,752	Expenditures Less Interest & Carryover/.925	
Debt Assessments - Series 2015	526,463	526,216	526,216	Bond Payments/.925	
Debt Assessments - Series 2019	311,787	311,687	311,687	Bond Payments/.925	
Interest Income	217	180	180	Interest Projected At $15 Per Month	
					
TOTAL REVENUES	1,016,574	$	1,015,844	$	1,015,835		
					
EXPENDITURES					
Supervisor Fees	0	1,200	1,200	Supervisor Fees	
Payroll Taxes - Employer	0	96	96	Projected At 8% Of Supervisor Fees	
Engineering/Inspections	8,566	7,500	8,500	$1,000 Increase From 2021/2022 Budget	
Preserve Maintenance	75,100	79,700	79,700	Fiscal Year 2021/2022 Expenditure Was $75,100	
Lake Bank Maintenance	0	0	25,000	Lake Bank Maintenance	
Management	36,084	36,588	37,680	CPI Adjustment (Capped At 3%)	
Legal	10,842	15,500	15,500	FY 2020/2021 Expenditure Through Dec 2021 Was $4,248	
Assessment Roll	5,000	5,000	5,000	As Per Contract	
Audit Fees	3,900	4,000	4,100	Accepted Amount Of 2021/2022 Audit	
Arbitrage Rebate Fee	650	650	650	No Change From 2021/2022 Budget	
Insurance	5,513	5,900	6,000	Insurance Estimate	
Legal Advertisements	3,042	2,000	2,500	$500 Increase From 2021/2022 Budget	
Miscellaneous	353	750	750	No Change From 2021/2022 Budget	
Postage	288	275	275	No Change From 2021/2022 Budget	
Office Supplies	408	575	550	$25 Decrease From 2021/2022 Budget	
Dues & Subscriptions	175	175	175	No Change From 2021/2022 Budget	
Trustee Fee	7,740	7,800	7,800	No Change From 2021/2022 Budget	
Continuing Disclosure Fee	1,500	2,000	1,500	$500 Decrease From 2021/2022 Budget	
TOTAL EXPENDITURES	159,161	$	169,709	$	196,976		
					
REVENUES LESS EXPENDITURES	857,413	$	846,135	$	818,859		
					
Bond Payments - Series 2015	(496,203)	(486,750)	(486,750)	2023 Principal & Interest Payments	
Bond Payments - Series 2019	(293,870)	(288,311)	(288,311)	2023 Principal & Interest Payments	
					
BALANCE	67,340	71,074	43,798		
					
County Appraiser & Tax Collector Fee	(13,000)	(35,040)	(35,039)	Three And One Half Percent Of Total Assessment Roll	
Discounts For Early Payments	(38,853)	(41,134)	(41,134)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	15,487	$	(5,100)	$	(32,375)		
					
Carryover Funds From Prior Year	0	5,100	32,375	Carryover Funds From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	15,487	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND (SERIES 2015) BUDGET
WINDING CYPRESS 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	
30	
25	
25	
Projected Interest For 2022/2023	

NAV Tax Collection	
496,203	
486,750	
486,750	
Maximum Debt Service Collection	

Total Revenues	
$	496,233	
$	486,775	
$	486,775		

EXPENDITURES					

Principal Payments	
140,000	
155,000	
160,000	
Principal Payment Due In 2023	

Interest Payments	
339,550	
330,406	
323,625	
Principal Payment Due In 2023	

Bond Redemption	
0	
1,369	
3,150	
Estimated Excess Debt Collections	

Total Expenditures	
$	479,550	
$	486,775	
$	486,775		

Excess/ (Shortfall)	

$	16,683	

$	-	

$	-		

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 1/1/22 =	November 2045

$6,690,000			

DETAILED FINAL DEBT SERVICE (SERIES 2019) FUND BUDGET
WINDING CYPRESS 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	
17	
25	
25	
Projected Interest For 2022/2023	

NAV Tax Collection	
293,870	
288,311	
288,311	
Maximum Debt Service Collection	

Total Revenues	
$	293,887	
$	288,336	
$	288,336		

EXPENDITURES					

Principal Payments	
75,000	
80,000	
85,000	
Principal Payment Due In 2023	

Interest Payments	
211,750	
207,527	
203,031	
Principal Payment Due In 2023	

Bond Redemption	
0	
809	
305	
Estimated Excess Debt Collections	

Total Expenditures	
$	286,750	
$	288,336	
$	288,336		

Excess/ (Shortfall)	

$	7,137	

$	-	

$	-		

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 1/1/22 =	November 2049

$4,320,000			

WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

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

O & M For Phases 1 & 2 SF Villas	$	232.18	$	232.13	$	232.07	$	232.06	
Debt For Phases 1 & 2 SF Villas	$	849.00	$	849.00	$	849.00	$	849.00	
Total For Phases 1 & 2 SF Villas	$	1,081.18	$	1,081.13	$	1,081.07	$	1,081.06	
O & M For Phases 1 & 2 SF 50' Units	$	232.18	$	232.13	$	232.07	$	232.06	
Debt For Phases 1 & 2 SF 50' Units	$	954.00	$	954.00	$	954.00	$	954.00	
Total For Phases 1 & 2 SF 50' Units	$	1,186.18	$	1,186.13	$	1,186.07	$	1,186.06	
O & M For Phases 1 & 2 SF 65' Units	$	232.18	$	232.13	$	232.07	$	232.06	
Debt For Phases 1 & 2 SF 65' Units	$	1,060.00	$	1,060.00	$	1,060.00	$	1,060.00	
Total For Phases 1 & 2 SF 65' Units	$	1,292.18	$	1,292.13	$	1,292.07	$	1,292.06	
O & M For Phase 3 SF 50' Units	$	232.18	$	232.13	$	232.07	$	232.06	
Debt For Phase 3 SF 50' Units	$	1,429.00	$	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	$	1,661.06	
O & M For Phase 3 SF 65' Units	$	232.18	$	232.13	$	232.07	$	232.06	
Debt For Phase 3 SF 65' Units	$	1,544.00	$	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	$	1,776.06	
* Assessments Include the Following :						
4% Discount for Early Payments 2% County Tax Collector Fee
1.5% County Property Appraiser Fee

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
Total:	554 Units	65' Lots:	76 Units
Total:	212 Units	(1 65' Lot Replaced with 1 50' Lot)