Winding Cypress Community Development District

Final Budget For Fiscal Year 2023/2024
October 1, 2023 - September 30, 2024

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2015)

DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2019)

ASSESSMENT COMPARISON

FINAL BUDGET
WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2023/2024 BUDGET	
O&M (Operation & Maintenance) Assessments	608,957	
Debt Assessments - Series 2015	526,216	
Debt Assessments - Series 2019	311,687	
Interest Income	1,500	
TOTAL REVENUES	$	1,448,360	
		
EXPENDITURES		
Administrative Expenditures		
Supervisor Fees	12,000	
Payroll Taxes - Employer	960	
Management	50,000	
Legal	25,500	
Legal & Engineering - Extraordinary	250,000	
Assessment Roll	5,000	
Audit Fees	4,200	
Arbitrage Rebate Fee	650	
Insurance	6,700	
Legal Advertisements	4,000	
Miscellaneous	725	
Postage	300	
Office Supplies	575	
Dues & Subscriptions	175	
Trustee Fee	8,300	
Continuing Disclosure Fee	1,000	
Total Administrative Expenditures	$	370,085	
		
Maintenance Expenditures		
Engineering/Inspections	20,000	
Preserve Maintenance	79,700	
Lake Bank Maintenance	75,000	
Pipe Maintenance	20,000	
Total Maintenance Expenditures	$	194,700	
		
Total O&M Expenditures	$	564,785	
		
REVENUES LESS EXPENDITURES	$	883,575	
		
Bond Payments - Series 2015	(486,750)	
Bond Payments - Series 2019	(288,311)	
		
BALANCE	108,514	
		
County Appraiser & Tax Collector Fee	(49,916)	
Discounts For Early Payments	(58,598)	
		
EXCESS/ (SHORTFALL)	$	-	
		
Carryover Funds From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED FINAL BUDGET
WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	

FISCAL YEAR 2021/2022
ACTUAL	

FISCAL YEAR 2022/2023
BUDGET	

FISCAL YEAR 2023/2024
BUDGET	

COMMENTS	
O&M (Operation & Maintenance) Assessments	178,300	177,752	608,957	Expenditures Less Interest & Carryover/.925	
Debt Assessments - Series 2015	526,393	526,216	526,216	Bond Payments/.925	
Debt Assessments - Series 2019	311,909	311,687	311,687	Bond Payments/.925	
Interest Income	908	180	1,500	Operating Account: $300 - Preserve Account: $1,200	
TOTAL REVENUES	1,017,510	$	1,015,835	$	1,448,360		
					
EXPENDITURES					
Administrative Expenditures					
Supervisor Fees	0	1,200	12,000	Supervisor Fees	
Payroll Taxes - Employer	0	96	960	Projected At 8% Of Supervisor Fees	
Management	36,588	37,680	50,000	$12,320 Increase From 2022/2023 Budget	
Legal	8,629	15,500	25,500	$10,000 Increase From 2022/2023 Budget	
Legal & Engineering - Extraordinary	0	0	250,000	Legal & Engineering - Extraordinary	
Assessment Roll	5,000	5,000	5,000	As Per Contract	
Audit Fees	4,000	4,100	4,200	Accepted Amount Of 2022/2023 Audit	
Arbitrage Rebate Fee	650	650	650	No Change From 2022/2023 Budget	
Insurance	5,706	6,000	6,700	Fiscal Year 2022/2023 Expenditure Was $6,134	
Legal Advertisements	2,058	2,500	4,000	$1,500 Increase From 2022/2023 Budget	
Miscellaneous	464	750	725	$25 Decrease From 2022/2023 Budget	
Postage	303	275	300	$25 Increase From 2022/2023 Budget	
Office Supplies	588	550	575	$25 Increase From 2022/2023 Budget	
Dues & Subscriptions	175	175	175	No Change From 2022/2023 Budget	
Trustee Fee	7,740	7,800	8,300	$500 Increase From 2022/2023 Budget	
Continuing Disclosure Fee	1,500	1,500	1,000	$500 Decrease From 2022/2023 Budget	
Total Administrative Expenditures	73,401	$	83,776	$	370,085		
					
Maintenance Expenditures					
Engineering/Inspections	27,088	8,500	20,000	FY 2022/2023 Expenditure Through March 2023 Was $13,360	
Preserve Maintenance	75,100	79,700	79,700	No Change From 2022/2023 Budget	
Lake Bank Maintenance	0	25,000	75,000	$50,000 Increase From 2022/2023 Budget	
Pipe Maintenance	0	0	20,000	For Testing And Cleaning	
Total Maintenance Expenditures	$	102,188	$	113,200	$	194,700		
					
Total O&M Expenditures	$	175,589	$	196,976	$	564,785		
					
REVENUES LESS EXPENDITURES	841,921	$	818,859	$	883,575		
					
Bond Payments - Series 2015	(496,286)	(486,750)	(486,750)	2024 Principal & Interest Payments	
Bond Payments - Series 2019	(294,081)	(288,311)	(288,311)	2024 Principal & Interest Payments	
					
BALANCE	51,554	43,798	108,514		
					
County Appraiser & Tax Collector Fee	(14,435)	(35,039)	(49,916)	Three And One Half Percent Of Total Assessment Roll	
Discounts For Early Payments	(38,548)	(41,134)	(58,598)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	(1,429)	$	(32,375)	$	-		
					
Carryover Funds From Prior Year	0	32,375	0	Carryover Funds From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	(1,429)	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND (SERIES 2015) BUDGET
WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	

FISCAL YEAR

2021/2022

ACTUAL	

FISCAL YEAR

2022/2023

BUDGET	

FISCAL YEAR

2023/2024

BUDGET	

COMMENTS	

Interest Income	
31	
25	
100	
Projected Interest For 2023/2024	

NAV Tax Collection	
496,285	
486,750	
486,750	
Maximum Debt Service Collection	

Total Revenues	
$	496,316	
$	486,775	
$	486,850		

EXPENDITURES					

Principal Payments	
145,000	
160,000	
165,000	
Principal Payment Due In 2024	

Interest Payments	
333,578	
323,625	
316,625	
Principal Payment Due In 2024	

Bond Redemption	
0	
3,150	
5,225	
Estimated Excess Debt Collections	

Total Expenditures	
$	478,578	
$	486,775	
$	486,850		

Excess/ (Shortfall)	
$	17,738	
$	-	
$	-		

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 1/1/23 =	November 2045

$6,535,000			

DETAILED FINAL DEBT SERVICE (SERIES 2019) FUND BUDGET
WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	

FISCAL YEAR

2021/2022

ACTUAL	

FISCAL YEAR

2022/2023

BUDGET	

FISCAL YEAR

2023/2024

BUDGET	

COMMENTS	

Interest Income	
17	
25	
100	
Projected Interest For 2023/2024	

NAV Tax Collection	
294,081	
288,311	
288,311	
Maximum Debt Service Collection	

Total Revenues	
$	294,098	
$	288,336	
$	288,411		

EXPENDITURES					

Principal Payments	
75,000	
85,000	
85,000	
Principal Payment Due In 2024	

Interest Payments	
208,938	
203,031	
201,344	
Principal Payment Due In 2024	

Bond Redemption	
0	
305	
2,067	
Estimated Excess Debt Collections	

Total Expenditures	
$	283,938	
$	288,336	
$	288,411		

Excess/ (Shortfall)	
$	10,160	
$	-	
$	-		

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 1/1/23 =	November 2049

$4,240,000			

WINDING CYPRESS COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year
2020/2021	2021/2022	2022/2023	2023/2024
	Assessment*			Assessment*	 	Assessment*	 	Projected Assessment*	

O & M For Phases 1 & 2 SF Villas	$	232.13		$	232.07		$	232.06		$	794.99	
Debt For Phases 1 & 2 SF Villas	$	849.00		$	849.00		$	849.00		$	849.00	
Total For Phases 1 & 2 SF Villas	$	1,081.13		$	1,081.07		$	1,081.06		$	1,643.99	
O & M For Phases 1 & 2 SF 50' Units	$	232.13		$	232.07		$	232.06		$	794.99	
Debt For Phases 1 & 2 SF 50' Units	$	954.00		$	954.00		$	954.00		$	954.00	
Total For Phases 1 & 2 SF 50' Units	$	1,186.13		$	1,186.07		$	1,186.06		$	1,748.99	
O & M For Phases 1 & 2 SF 65' Units	$	232.13		$	232.07		$	232.06		$	794.99	
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	$	1,292.13		$	1,292.07		$	1,292.06		$	1,854.99	
O & M For Phase 3 SF 50' Units	$	232.13		$	232.07		$	232.06		$	794.99	
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	$	1,661.13		$	1,661.07		$	1,661.06		$	2,223.99	
O & M For Phase 3 SF 65' Units	$	232.13		$	232.07		$	232.06		$	794.99	
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	$	1,776.13		$	1,776.07		$	1,776.06		$	2,338.99	
* 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)