Coco Palms 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 2016) IV          DETAILED PROPOSED DEBT SERVICE FUND BUDGET (SERIES 2019) V	ASSESSMENT COMPARISON

PROPOSED BUDGET
COCO PALMS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2021/2022 BUDGET	
Administrative Assessments	84,607	
Maintenance Assessments	66,723	
Debt Assessments (2016)	695,856	
Debt Assessments (2019)	400,000	
Developer Contribution - 2019 Debt	0	
Other Revenues	0	
Interest Income	360	
		
TOTAL REVENUES	$	1,247,546	
		
EXPENDITURES		
Administrative Expenditures		
Supervisor Fees	0	
Management	32,016	
Legal	12,000	
Assessment Roll	7,800	
Audit Fees	4,600	
Arbitrage Rebate Fee	1,300	
Insurance	6,400	
Legal Advertisements	1,200	
Miscellaneous	1,300	
Postage	625	
Office Supplies	775	
Dues & Subscriptions	175	
Trustee Fees	7,000	
Continuing Disclosure Fee	1,500	
Website Management	2,000	
Administrative Contingency	1,200	
		
Total Administrative Expenditures	$	79,891	
		
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	
Irrigation System - Water	5,000	
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	2,920	
Total Maintenance Expenditures	$	62,720	
		
TOTAL EXPENDITURES	$	142,611	
		
REVENUES LESS EXPENDITURES	$	1,104,935	
		
Bond Payments (2016)	(654,105)	
Bond Payments (2019)	(376,000)	
		
BALANCE	$	74,830	
		
County Appraiser & Tax Collector Fee	(24,943)	
Discounts For Early Payments	(49,887)	
		
EXCESS/ (SHORTFALL)	$	-	
		
Carryover Funds From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED PROPOSED BUDGET
COCO PALMS 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	
Administrative Assessments	77,808	84,744	84,607	Expenditures Less Interest/.94	
Maintenance Assessments	60,472	66,723	66,723	Expenditures Less Carryover/.94	
Debt Assessments (2016)	696,804	696,804	695,856	Bond Payments/.94	
Debt Assessments (2019)	268,403	400,000	400,000	Bond Payments/.94	
Developer Contribution - 2019 Debt	138,694	0	0		
Other Revenues	0	0	0		
Interest Income	829	300	360	Interest Projected At $30 Per Month	
					
TOTAL REVENUES	$	1,243,010	$	1,248,571	$	1,247,546		
					
EXPENDITURES					
Administrative Expenditures					
Supervisor Fees	0	0	0		
Management	30,876	31,584	32,016	CPI Adjustment	
Legal	10,200	12,000	12,000	No Change From 2020/2021 Budget	
Assessment Roll	7,800	7,800	7,800	As Per Contract Plus Expansion Area	
Audit Fees	4,400	4,500	4,600	$100 Increase From 2020/2021 Budget	
Arbitrage Rebate Fee	1,300	1,300	1,300	No Change From 2020/2021 Budget	
Insurance	5,251	6,500	6,400	Insurance Estimate	
Legal Advertisements	572	1,300	1,200	$100 Decrease From 2020/2021 Budget	
Miscellaneous	90	1,400	1,300	$100 Decrease From 2020/2021 Budget	
Postage	318	650	625	$25 Decrease From 2020/2021 Budget	
Office Supplies	504	800	775	$25 Decrease From 2020/2021 Budget	
Dues & Subscriptions	175	175	175	No Change From 2020/2021 Budget	
Trustee Fees	7,000	7,000	7,000	No Change From 2020/2021 Budget	
Continuing Disclosure Fee	1,500	2,000	1,500	$500 Decrease From 2020/2021 Budget	
Website Management	2,000	2,000	2,000	No Change From 2020/2021 Budget	
Administrative Contingency	0	950	1,200	Administrative Contingency	
					
Total Administrative Expenditures	$	71,986	$	79,959	$	79,891		
					
Maintenance Expenditures					
Annual Engineer's Report/Inspections	590	1,800	1,800	No Change From 2020/2021 Budget	
Field Operations Management	1,200	1,200	1,200	No Change From 2020/2021 Budget	
Lawn & Landscape Tract Maintenance	10,205	13,000	13,000	No Change From 2020/2021 Budget	
Entrance Feature Maintenance	0	2,000	2,000	No Change From 2020/2021 Budget	
Irrigation System Maintenance/Upkeep	0	2,000	2,000	No Change From 2020/2021 Budget	
Irrigation System - Water	0	0	5,000	Irrigation System - Water	
Roadway/Drainage System Maintenance/Upkeep	0	5,600	5,600	No Change From 2020/2021 Budget	
Common Driveway Maintenance/Upkeep	0	14,000	14,000	No Change From 2020/2021 Budget	
Fountain Maintenance/Upkeep	0	5,000	5,000	No Change From 2020/2021 Budget	
FP&L Power/Utility	3,553	6,000	6,000	No Change From 2020/2021 Budget	
Lake - Aquatic Maintenance	3,072	4,200	4,200	No Change From 2020/2021 Budget	
Miscellaneous Maintenance	0	7,920	2,920	$5,000 Decrease From 2020/2021 Budget	
Total Maintenance Expenditures	$	18,620	$	62,720	$	62,720		
					
TOTAL EXPENDITURES	$	90,606	$	142,679	$	142,611		
					
REVENUES LESS EXPENDITURES	$	1,152,404	$	1,105,892	$	1,104,935		
					
Bond Payments (2016)	(663,802)	(654,996)	(654,105)	2022 P & I Payments Less Earned Interest	
Bond Payments (2019)	(405,289)	(376,000)	(376,000)	2022 P & I Payments Less Earned Interest	
					
BALANCE	$	83,313	$	74,896	$	74,830		
					
County Appraiser & Tax Collector Fee	(9,911)	(24,965)	(24,943)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(30,437)	(49,931)	(49,887)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	42,965	$	-	$	-		
					
Carryover Funds From Prior Year	0	0	0	Carryover Funds From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	42,965	$	-	$	-		

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

5,368	

500	

25	

Projected Interest For 2021/2022	

NAV Tax Collection	

663,802	

654,996	

654,105	

Maximum Debt Service Collection	

Prepaid Bond Collection	

13,109	

0	

0		

Total Revenues	

$	682,279	

$	655,496	

$	654,130		

EXPENDITURES					

Principal Payments	

190,000	

200,000	

205,000	

Principal Payment Due In 2022	

Interest Payments	

464,863	

453,988	

446,394	

Interest Payments Due In 2022	

Bond Redemption	

0	

1,508	

2,736	

Estimated Excess Debt Collections	

Total Expenditures	

$	654,863	

$	655,496	

$	654,130		

Excess/ (Shortfall)	

$	27,416	

$	-	

$	-		

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 1/1/21 =	
$9,635,000			

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

1,663	

100	

25	

Projected Interest For 2021/2022	

Payment By Developer	

138,694	

0	

0		

NAV Tax Collection	

266,595	

376,000	

376,000	

Maximum Debt Service Collection	

Total Revenues	

$	406,952	

$	376,100	

$	376,025		

EXPENDITURES					

Principal Payments	

100,000	

100,000	

105,000	

Principal Payment Due In 2022	

Interest Payments	

277,387	

272,075	

268,359	

Interest Payments Due In 2022	

Bond Redemption	

0	

4,025	

2,666	

Estimated Excess Debt Collections	

Total Expenditures	

$	377,387	

$	376,100	

$	376,025		

Excess/ (Shortfall)	

$	29,565	

$	-	

$	-		

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 1/1/21 =	
$5,815,000			

COCO PALMS 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* 

Original Units		
Administrative For Single Family Units	$	100.66	$	82.63	$	82.60	$	82.47	
Maintenance For Single Family Units	$	50.54	$	65.04	$	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	$	1,204.20	$	1,200.67	$	1,200.64	$	1,200.51	

Administrative For Townhome Units	
$	100.66	$	82.63	
$	82.60	
$	82.47	
Maintenance For Townhome Units	$	50.54	$	65.04	$	65.04	$	65.04	
Debt For Townhomes Units	$	948.00	$	948.00	$	948.00	$	948.00	
Total For Townhomes Units	$	1,099.20	$	1,095.67	$	1,095.64	$	1,095.51	

Administrative For Villa Units	
$	100.66	$	82.63	
$	82.60	
$	82.47	
Maintenance For Villa Units	$	50.54	$	65.04	$	65.04	$	65.04	
Debt For Villa Units	$	843.00	$	843.00	$	843.00	$	843.00	
Total For Villa Units	$	994.20	$	990.67	$	990.64	$	990.51	

Expansion Area Units				
Administrative For Townhome Units	$	-	$	82.63	$	82.60	$	82.47	
Maintenance For Townhome Units	$	-	$	65.04	$	65.04	$	65.04	
Debt For Townhomes Units	$	-	$	1,474.47	$	1,474.47	$	1,474.47	
Total For Townhomes Units	$	-	$	1,622.14	$	1,622.11	$	1,621.98	

Administrative For Villa Units	
$	-	$	82.63	
$	82.60	
$	82.47	
Maintenance For Villa Units	$	-	$	65.04	$	65.04	$	65.04	
Debt For Villa Units	$	-	$	1,369.15	$	1,369.15	$	1,369.15	
Total For Villa Units	$	-	$	1,516.82	$	1,516.79	$	1,516.66	

* 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			Any Direct Bills that were not paid, were
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 (Original Units) Information Townhomes Units	119	Total Units	743
Villa Units	164	Prepayments	1
Total Units	283	Billed For Debt	742

4/13/2021 6:11 PM	V