Coco Palms Community Development District

Final Budget For Fiscal Year 2020/2021
October 1, 2020 - September 30, 2021

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 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2020/2021 BUDGET	
Administrative Assessments	84,744	
Maintenance Assessments	66,723	
Debt Assessments (2016)	696,804	
Debt Assessments (2019)	400,000	
Other Revenues	0	
Interest Income	300	
		
TOTAL REVENUES	$	1,248,571	
		
EXPENDITURES		
Administrative Expenditures		
Supervisor Fees	0	
Management	31,584	
Legal	12,000	
Legal - Extraordinary	0	
Assessment Roll	7,800	
Audit Fees	4,500	
Arbitrage Rebate Fee	1,300	
Insurance	6,500	
Legal Advertisements	1,300	
Miscellaneous	1,400	
Postage	650	
Office Supplies	800	
Dues & Subscriptions	175	
Trustee Fees	7,000	
Continuing Disclosure Fee	2,000	
Website Management	2,000	
Administrative Contingency	950	
		
Total Administrative Expenditures	$	79,959	
		
Maintenance Expenditures		
Annual Engineer's Report/Inspections	1,800	
Field Operations Management	1,200	
Lawn & Landscape Tract Maintenance	13,000	
Entrance Feature Maintenance	2,000	
Irrigation System Maintenance/Upkeep	2,000	
Roadway/Drainage System Maintenance/Upkeep	5,600	
Common Driveway Maintenance/Upkeep	14,000	
Fountain Maintenance/Upkeep	5,000	
FP&L Power/Utility	6,000	
Lake - Aquatic Maintenance	4,200	
Miscellaneous Maintenance	7,920	
Total Maintenance Expenditures	$	62,720	
		
TOTAL EXPENDITURES	$	142,679	
		
REVENUES LESS EXPENDITURES	$	1,105,892	
		
Bond Payments (2016)	(654,996)	
Bond Payments (2019)	(376,000)	
		
BALANCE	$	74,896	
		
County Appraiser & Tax Collector Fee	(24,965)	
Discounts For Early Payments	(49,931)	
		
EXCESS/ (SHORTFALL)	$	-	
		
Carryover Funds From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED FINAL BUDGET
COCO PALMS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2018/2019 ACTUAL	
FISCAL YEAR 2019/2020 BUDGET	
FISCAL YEAR 2020/2021 BUDGET	

COMMENTS	
Administrative Assessments	75,834	84,773	84,744	Expenditures Less Interest/.94	
Maintenance Assessments	37,553	66,723	66,723	Expenditures Less Carryover/.94	
Debt Assessments (2016)	696,804	696,804	696,804	Bond Payments/.94	
Debt Assessments (2019)	0	400,000	400,000	Bond Payments/.94	
Other Revenues	16,522	0	0		
Interest Income	509	240	300	Interest Projected At $25 Per Month	
					
TOTAL REVENUES	$	827,222	$	1,248,540	$	1,248,571		
					
EXPENDITURES					
Administrative Expenditures					
Supervisor Fees	0	0	0		
Management	30,312	30,876	31,584	CPI Adjustment	
Legal	12,830	12,000	12,000	No Change From 2019/2020 Budget	
Legal - Extraordinary	16,311	0	0	Fiscal Year 2018/2019 Expenditure	
Assessment Roll	7,500	7,800	7,800	As Per Contract Plus Expansion Area	
Audit Fees	3,400	4,400	4,500	$100 Increase From 2019/2020 Budget	
Arbitrage Rebate Fee	650	1,300	1,300	No Change From 2019/2020 Budget	
Insurance	5,000	6,900	6,500	Insurance Estimate	
Legal Advertisements	876	1,300	1,300	No Change From 2019/2020 Budget	
Miscellaneous	242	1,500	1,400	$100 Decrease From 2019/2020 Budget	
Postage	315	675	650	$25 Decrease From 2019/2020 Budget	
Office Supplies	745	800	800	No Change From 2019/2020 Budget	
Dues & Subscriptions	175	175	175	No Change From 2019/2020 Budget	
Trustee Fees	3,500	7,000	7,000	No Change From 2019/2020 Budget	
Continuing Disclosure Fee	1,000	2,000	2,000	No Change From 2019/2020 Budget	
Website Management	1,500	2,000	2,000	No Change From 2019/2020 Budget	
Administrative Contingency	0	1,200	950	$250 Decrease From 2019/2020 Budget	
					
Total Administrative Expenditures	$	84,356	$	79,926	$	79,959		
					
Maintenance Expenditures					
Annual Engineer's Report/Inspections	1,250	1,800	1,800	No Change From 2019/2020 Budget	
Field Operations Management	0	1,200	1,200	No Change From 2019/2020 Budget	
Lawn & Landscape Tract Maintenance	0	5,000	13,000	$8,000 Increase From 2019/2020 Budget	
Entrance Feature Maintenance	0	3,600	2,000	$1,600 Decrease From 2019/2020 Budget	
Irrigation System Maintenance/Upkeep	0	2,400	2,000	$400 Decrease From 2019/2020 Budget	
Roadway/Drainage System Maintenance/Upkeep	0	3,600	5,600	$2,000 Increase From 2019/2020 Budget	
Common Driveway Maintenance/Upkeep	0	19,620	14,000	$5,620 Decrease From 2019/2020 Budget	
Fountain Maintenance/Upkeep	0	4,000	5,000	$1,000 Increase From 2019/2020 Budget	
FP&L Power/Utility	0	6,000	6,000	No Change From 2019/2020 Budget	
Lake - Aquatic Maintenance	2,976	4,200	4,200	No Change From 2019/2020 Budget	
Miscellaneous Maintenance	0	11,300	7,920	$3,380 Decrease From 2019/2020 Budget	
Total Maintenance Expenditures	$	4,226	$	62,720	$	62,720		
					
TOTAL EXPENDITURES	$	88,582	$	142,646	$	142,679		
					
REVENUES LESS EXPENDITURES	$	738,640	$	1,105,894	$	1,105,892		
					
Bond Payments (2016)	(664,026)	(654,996)	(654,996)	2021 P & I Payments Less Earned Interest	
Bond Payments (2019)	0	(376,000)	(376,000)	2021 P & I Payments Less Earned Interest	
					
BALANCE	$	74,614	$	74,898	$	74,896		
					
County Appraiser & Tax Collector Fee	(7,794)	(24,966)	(24,965)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(30,273)	(49,932)	(49,931)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	36,547	$	-	$	-		
					
Carryover Funds From Prior Year	0	0	0	Carryover Funds From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	36,547	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2016)
COCO PALMS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	

FISCAL YEAR

2018/2019

ACTUAL	

FISCAL YEAR

2019/2020

BUDGET	

FISCAL YEAR

2020/2021

BUDGET	

COMMENTS	

Interest Income	

14,858	

500	

500	

Projected Interest For 2020/2021	

NAV Tax Collection	

664,026	

654,996	

654,996	

Maximum Debt Service Collection	

Total Revenues	

$	678,884	

$	655,496	

$	655,496		

EXPENDITURES					

Principal Payments	

185,000	

190,000	

200,000	

Principal Payment Due In 2021	

Interest Payments	

471,800	

461,300	

453,988	

Interest Payments Due In 2021	

Transfer To Construction Fund	

9,763	

0	

0		

Bond Redemption	

0	

4,196	

1,508	

Estimated Excess Debt Collections	

Total Expenditures	

$	666,563	

$	655,496	

$	655,496		

Excess/ (Shortfall)	

$	12,321	

$	-	

$	-		

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 1/1/20 =	
$9,825,000			

DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2019)
COCO PALMS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	

FISCAL YEAR

2018/2019

ACTUAL	

FISCAL YEAR

2019/2020

BUDGET	

FISCAL YEAR

2020/2021

BUDGET	

COMMENTS	

Interest Income	

2,676	

0	

100	

Projected Interest For 2020/2021	

Bond Proceeds	

275,839	

0	

0		

NAV Tax Collection	

0	

376,000	

376,000	

Maximum Debt Service Collection	

Total Revenues	

$	278,515	

$	376,000	

$	376,100		

EXPENDITURES					

Principal Payments	

0	

100,000	

100,000	

Principal Payment Due In 2021	

Interest Payments	

87,839	

275,638	

272,075	

Interest Payments Due In 2021	

Bond Redemption	

0	

362	

4,025	

Estimated Excess Debt Collections	

Total Expenditures	

$	87,839	

$	376,000	

$	376,100		

Excess/ (Shortfall)	

$	190,676	

$	-	

$	-		

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 1/1/20 =	
$5,915,000			

COCO PALMS COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year
2017/2018	2018/2019	2019/2020	2020/2021
 	Assessment*	 	Assessment*	 	Assessment*	 Projected Assessment* 

Original Units		
Administrative For Single Family Units	$	100.93	$	100.66	$	82.63	$	82.60	
Maintenance For Single Family Units	$	50.54	$	50.54	$	65.04	$	65.04	
Debt For Single Family Units	$	1,053.00	$	1,053.00	$	1,053.00	$	1,053.00	
Total For Single Family Units	$	1,204.47	$	1,204.20	$	1,200.67	$	1,200.64	

Administrative For Townhome Units	
$	100.93	$	100.66	$	82.63	
$	82.60	
Maintenance For Townhome Units	$	50.54	$	50.54	$	65.04	$	65.04	
Debt For Townhomes Units	$	948.00	$	948.00	$	948.00	$	948.00	
Total For Townhomes Units	$	1,099.47	$	1,099.20	$	1,095.67	$	1,095.64	

Administrative For Villa Units	
$	100.93	$	100.66	$	82.63	
$	82.60	
Maintenance For Villa Units	$	50.54	$	50.54	$	65.04	$	65.04	
Debt For Villa Units	$	843.00	$	843.00	$	843.00	$	843.00	
Total For Villa Units	$	994.47	$	994.20	$	990.67	$	990.64	

Expansion Area Units			
Administrative For Townhome Units	$	-	$	-	$	82.63	$	82.60	
Maintenance For Townhome Units	$	-	$	-	$	65.04	$	65.04	
Debt For Townhomes Units	$	-	$	-	$	1,474.47	$	1,474.47	
Total For Townhomes Units	$	-	$	-	$	1,622.14	$	1,622.11	

Administrative For Villa Units	
$	-	$	-	$	82.63	
$	82.60	
Maintenance For Villa Units	$	-	$	-	$	65.04	$	65.04	
Debt For Villa Units	$	-	$	-	$	1,369.15	$	1,369.15	
Total For Villa Units	$	-	$	-	$	1,516.82	$	1,516.79	

* Assessments Include the Following :		Note: Some Expansion Unit Landowners Were Direct Billed For 19/20    4% Discount for Early Payments	Assessments, Due To Parcels Not Being Platted by 19/20 Tax Roll Deadline. 1% County Tax Collector Fee			If Direct Bills are not paid by June 2020, 19/20 Assessments will be
1% County Property Appraiser Fee	added to 20/21 Assessment.

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

8/8/2020  4:06 PM	V