Coco Palms Community Development District

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

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2016) IV         DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2019) V	ASSESSMENT COMPARISON

FINAL BUDGET
COCO PALMS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2019/2020 BUDGET	
Administrative Assessments	84,773	
Maintenance Assessments	66,723	
Debt Assessments (2016)	696,804	
Debt Assessments (2019)	400,000	
Other Revenues	0	
Interest Income	240	
		
TOTAL REVENUES	$	1,248,540	
		
EXPENDITURES		
Administrative Expenditures		
Supervisor Fees	0	
Management	30,876	
Legal	12,000	
Assessment Roll	7,800	
Audit Fees	4,400	
Arbitrage Rebate Fee	1,300	
Insurance	6,900	
Legal Advertisements	1,300	
Miscellaneous	1,500	
Postage	675	
Office Supplies	800	
Dues & Subscriptions	175	
Trustee Fees	7,000	
Continuing Disclosure Fee	2,000	
Website Management	2,000	
Administrative Contingency	1,200	
		
Total Administrative Expenditures	$	79,926	
		
Maintenance Expenditures		
Annual Engineer's Report/Inspections	1,800	
Field Operations Management	1,200	
Lawn & Landscape Tract Maintenance	5,000	
Entrance Feature Maintenance	3,600	
Irrigation System Maintenance/Upkeep	2,400	
Roadway/Drainage System Maintenance/Upkeep	3,600	
Common Driveway Maintenance/Upkeep	19,620	
Fountain Maintenance/Upkeep	4,000	
FP&L Power/Utility	6,000	
Lake - Aquatic Maintenance	4,200	
Miscellaneous Maintenance	11,300	
Total Maintenance Expenditures	$	62,720	
		
TOTAL EXPENDITURES	$	142,646	
		
REVENUES LESS EXPENDITURES	$	1,105,894	
		
Bond Payments (2016)	(654,996)	
Bond Payments (2019)	(376,000)	
		
BALANCE	$	74,898	
		
County Appraiser & Tax Collector Fee	(24,966)	
Discounts For Early Payments	(49,932)	
		
EXCESS/ (SHORTFALL)	$	-	
		
Carryover Funds From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED FINAL BUDGET
COCO PALMS 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	
Administrative Assessments	75,887	74,784	84,773	Expenditures Less Interest/.94	
Maintenance Assessments	37,553	37,553	66,723	Expenditures Less Carryover/.94	
Debt Assessments (2016)	696,804	696,804	696,804	Bond Payments/.94	
Debt Assessments (2019)	0	0	400,000	Bond Payments/.94	
Other Revenues	918	0	0		
Interest Income	450	240	240	Interest Projected At $20 Per Month	
					
TOTAL REVENUES	$	811,612	$	809,381	$	1,248,540		
					
EXPENDITURES					
Administrative Expenditures					
Supervisor Fees	0	0	0		
Management	29,700	30,312	30,876	CPI Adjustment	
Legal	8,314	12,000	12,000	No Change From 2018/2019 Budget	
Assessment Roll	7,500	7,500	7,800	As Per Contract Plus Expansion Area	
Audit Fees	3,300	3,400	4,400	Increased Due To Second Bond Issue	
Arbitrage Rebate Fee	650	650	1,300	Increased Due To Second Bond Issue	
Insurance	5,610	6,200	6,900	Insurance Estimate	
Legal Advertisements	2,274	1,300	1,300	No Change From 2018/2019 Budget	
Miscellaneous	125	1,500	1,500	No Change From 2018/2019 Budget	
Postage	199	700	675	$25 Decrease From 2018/2019 Budget	
Office Supplies	631	800	800	No Change From 2018/2019 Budget	
Dues & Subscriptions	175	175	175	No Change From 2018/2019 Budget	
Trustee Fees	3,500	3,500	7,000	Increased Due To Second Bond Issue	
Continuing Disclosure Fee	1,000	1,000	2,000	Increased Due To Second Bond Issue	
Website Management	1,500	1,500	2,000	$500 Increase From 2018/2019 Budget	
Administrative Contingency	0	0	1,200	Administrative Contingency	
					
Total Administrative Expenditures	$	64,478	$	70,537	$	79,926		
					
Maintenance Expenditures					
Annual Engineer's Report/Inspections	1,379	2,200	1,800	$400 Decrease From 2018/2019 Budget	
Field Operations Management	0	0	1,200	Field Operations Management	
Lawn & Landscape Tract Maintenance	0	5,000	5,000	No Change From 2018/2019 Budget	
Entrance Feature Maintenance	0	3,600	3,600	No Change From 2018/2019 Budget	
Irrigation System Maintenance/Upkeep	0	2,400	2,400	No Change From 2018/2019 Budget	
Roadway/Drainage System Maintenance/Upkeep	0	3,600	3,600	No Change From 2018/2019 Budget	
Common Driveway Maintenance/Upkeep	0	19,620	19,620	No Change From 2018/2019 Budget	
Fountain Maintenance/Upkeep	0	4,000	4,000	No Change From 2018/2019 Budget	
FP&L Power/Utility	0	6,000	6,000	No Change From 2018/2019 Budget	
Lake - Aquatic Maintenance	6,273	3,600	4,200	$600 Increase From 2018/2019 Budget	
Miscellaneous Maintenance	0	4,900	11,300	$6,400 Increase From 2018/2019 Budget	
Total Maintenance Expenditures	$	7,652	$	54,920	$	62,720		
					
TOTAL EXPENDITURES	$	72,130	$	125,457	$	142,646		
					
REVENUES LESS EXPENDITURES	$	739,482	$	683,924	$	1,105,894		
					
Bond Payments (2016)	(663,591)	(654,996)	(654,996)	2020 P & I Payments Less Earned Interest	
Bond Payments (2019)	0	0	(376,000)	2020 P & I Payments Less Earned Interest	
					
BALANCE	$	75,891	$	28,928	$	74,898		
					
County Appraiser & Tax Collector Fee	(7,781)	(16,182)	(24,966)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(30,804)	(32,366)	(49,932)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	37,306	$	(19,620)	$	-		
					
Carryover Funds From Prior Year	0	19,620	0	Carryover Funds From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	37,306	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2016)
COCO PALMS 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	

8,569	

500	

500	

Projected Interest For 2019/2020	

NAV Tax Collection	

663,591	

654,996	

654,996	

Maximum Debt Service Collection	

Total Revenues	

$	672,160	

$	655,496	

$	655,496		

EXPENDITURES					

Principal Payments	

175,000	

185,000	

190,000	

Principal Payment Due In 2020	

Interest Payments	

478,363	

468,331	

461,300	

Interest Payments Due In 2020	

Bond Redemption	

0	

2,165	

4,196	

Estimated Excess Debt Collections	

Total Expenditures	

$	653,363	

$	655,496	

$	655,496		

Excess/ (Shortfall)	

$	18,797	

$	-	

$	-		

Series 2016 Bond Information

Original Par Amount =	$10,355,000	Annual Principal Payments Due =	May 1st	
Interest Rate = Issue Date = Maturity Date =	3.75% - 5.00%
February 2016
May 2046	Annual Interest Payments Due =	May 1st & November 1st	

Par Amount As Of 1/1/19 =	
$10,010,000			

DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2019)
COCO PALMS 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	

0	

Projected Interest For 2019/2020	

Payment By Developer	

0	

0	

0		

NAV Tax Collection	

0	

0	

376,000	

Maximum Debt Service Collection	

Total Revenues	

$	-	

$	-	

$	376,000		

EXPENDITURES					

Principal Payments	

0	

0	

100,000	

Principal Payment Due In 2020	

Interest Payments	

0	

0	

275,638	

Interest Payments Due In 2020	

Bond Redemption	

0	

0	

362	

Estimated Excess Debt Collections	

Total Expenditures	

$	-	

$	-	

$	376,000		

Excess/ (Shortfall)	

$	-	

$	-	

$	-		

Note: December 2019 Interest Payment To Be Developer Funded.

Series 2019 Bond Information
Original Par Amount =	$5,915,000	Annual Principal Payments Due =	June 15th	
Interest Rate = Issue Date = Maturity Date =	3.5% - 5.00%
February 2019
June 2049	Annual Interest Payments Due =	June 15th & December 15th	

Par Amount As Of 3/1/19 =	
$5,915,000			

COCO PALMS COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year
2016/2017	2017/2018	2018/2019	2019/2020
 	Assessment*	 	Assessment*	 	Assessment*	 Projected Assessment* 

Original Units		
Administrative For Single Family Units	$	101.11	$	100.93	$	100.66	$	82.63	
Maintenance For Single Family Units	$	50.54	$	50.54	$	50.54	$	65.04	
Debt For Single Family Units	$	1,053.00	$	1,053.00	$	1,053.00	$	1,053.00	
Total For Single Family Units	$	1,204.65	$	1,204.47	$	1,204.20	$	1,200.67	

Administrative For Townhome Units	
$	101.11	
$	100.93	
$	100.66	
$	82.63	
Maintenance For Townhome Units	$	50.54	$	50.54	$	50.54	$	65.04	
Debt For Townhomes Units	$	948.00	$	948.00	$	948.00	$	948.00	
Total For Townhomes Units	$	1,099.65	$	1,099.47	$	1,099.20	$	1,095.67	

Administrative For Villa Units	
$	101.11	
$	100.93	
$	100.66	
$	82.63	
Maintenance For Villa Units	$	50.54	$	50.54	$	50.54	$	65.04	
Debt For Villa Units	$	843.00	$	843.00	$	843.00	$	843.00	
Total For Villa Units	$	994.65	$	994.47	$	994.20	$	990.67	

Expansion Area Units					
Administrative For Townhome Units	$	-	$	-	$	-	$	82.63	
Maintenance For Townhome Units	$	-	$	-	$	-	$	65.04	
Debt For Townhomes Units	$	- 	$	- 	$	- 	$	1,474.47	
Total For Townhomes Units	$	-	$	-	$	-	$	1,622.14	

Administrative For Villa Units	
$	-	
$	-	
$	-	
$	82.63	
Maintenance For Villa Units	$	-	$	-	$	-	$	65.04	
Debt For Villa Units	$	- 	$	- 	$	- 	$	1,369.15	
Total For Villa Units	$	-	$	-	$	-	$	1,516.82	

* Assessments Include the Following :			
4% Discount for Early Payments			
1% County Tax Collector Fee			
1% County Property Appraiser Fee			

Community Information:				
Original Units	Total Units		
Single Family Units	181	Original Units	743	
Townhomes Units	309	Expansion Area Units	283	
Villa Units	253	Total Units	1,026	
Total Units	743			

Expansion Area Units			
Townhomes Units	119			
Villa Units	164
Total Units	283			

7/8/2019 9:28 AM	V