Crestview West Community Development District

Final Budget For Fiscal Year 2017/2018
October 1, 2017 - September 30, 2018

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
CRESTVIEW WEST COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2017/2018
OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	
FISCAL YEAR 2017/2018 BUDGET	
Administrative  Assessments	45,101	
Maintenance  Assessments	979	
Debt Assessments	168,769	
Other Revenues	0	
Interest	48	
		
TOTAL REVENUES	$		214,897	
		
EXPENDITURES		
MAINTENANCE  EXPENDITURES		
Engineering - Annual Report/Inspections	720	
Miscellaneous  Maintenance	200	
TOTAL MAINTENANCE EXPENDITURES	$		920	
		
ADMINISTRATIVE  EXPENDITURES		
Management	16,800	
Legal	6,400	
Assessment Roll	3,750	
Audit Fees	3,700	
Insurance	5,778	
Legal Advertisements	500	
Miscellaneous	510	
Postage	150	
Office Supplies	400	
Dues & Subscriptions	175	
Trustee Fee	2,500	
Continuing Disclosure Fee	480	
Website Management	1,300	
		
TOTAL  ADMINISTRATIVE  EXPENDITURES	$		42,443	
		
TOTAL  EXPENDITURES	$		43,363	
		
REVENUES LESS EXPENDITURES	$		171,534	
		
Bond Payments	(158,643)	
		
BALANCE	$		12,891	
		
County Appraiser & Tax Collector Fee	(4,297)	
Discounts For Early Payments	(8,594)	
		
EXCESS/  (SHORTFALL)	$		-	
		
Carryover From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$		-	

6/9/2017  4:42 PM	I

DETAILED FINAL BUDGET
CRESTVIEW WEST COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2017/2018
OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	
FISCAL YEAR 2015/2016 ACTUAL	
FISCAL YEAR 2016/2017 BUDGET	
FISCAL YEAR 2017/2018 BUDGET	

COMMENTS	
Administrative Assessments	45,302	45,100	45,101	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	798	984	979	Expenditures/.94	
Debt Assessments	168,769	168,192	168,769	Bond Payments/.94	
Other Revenues	0	0	0		
Interest	66	36	48	Estimated At $4 Per Month	
					
TOTAL REVENUES	$	214,935	$	214,312	$	214,897		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
Engineering - Annual Report/Inspections	1,866	800	720	$80 Decrease From 2016/2017 Budget	
Miscellaneous Maintenance	0	125	200	Miscellaneous Maintenance	
TOTAL MAINTENANCE EXPENDITURES	$	1,866	$	925	$	920		
					
ADMINISTRATIVE  EXPENDITURES					
Management	16,800	16,800	16,800	No Change From 2016/2017 Budget	
Legal	8,351	6,000	6,400	$400 Increase From 2016/2017 Budget	
Assessment Roll	1,600	4,000	3,750	Small District Fee	
Audit Fees	3,600	3,700	3,700	Accepted Amount For 2016/2017 Audit	
Insurance	5,150	5,665	5,778	Insurance Company Estimate	
Legal Advertisements	292	800	500	$300 Decrease From 2016/2017 Budget	
Miscellaneous	137	360	510	$150 Increase From 2016/2017 Budget	
Postage	94	150	150	No Change From 2016/2017 Budget	
Office Supplies	270	400	400	No Change From 2016/2017 Budget	
Dues & Subscriptions	175	175	175	No Change From 2016/2017 Budget	
Trustee Fee	2,500	2,500	2,500	Regions Bank Annual Fee	
Continuing Disclosure Fee	480	480	480	Dissemination Agent Fee (Small District)	
Website Management	1,400	1,400	1,300	$100 Decrease From 2016/2017 Budget	
					
TOTAL ADMINISTRATIVE EXPENDITURES	$	40,849	$	42,430	$	42,443		
					
TOTAL EXPENDITURES	$	42,715	$	43,355	$	43,363		
					
REVENUES LESS EXPENDITURES	$	172,220	$	170,957	$	171,534		
					
Bond Payments	(160,398)	(158,100)	(158,643)	2018 P & I Payments Less Interest	
					
BALANCE	$	11,822	$	12,857	$	12,891		
					
County Appraiser & Tax Collector Fee	(2,063)	(4,286)	(4,297)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(8,594)	(8,571)	(8,594)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	1,165	$	-	$	-		
					
Carryover From Prior Year	0	0	0	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	1,165	$	-	$	-		

6/9/2017  4:42 PM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET
CRESTVIEW WEST COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2017/2018
OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	FISCAL YEAR 2015/2016 ACTUAL	FISCAL YEAR 2016/2017 BUDGET	FISCAL YEAR 2017/2018 BUDGET	

COMMENTS	

Interest Income	
256	
50	
50	
Projected Interest For 2017/2018	

NAV Tax Collection	
160,398	
158,100	
158,643	
Maximum Debt Service Collection	

Total Revenues	
$	
160,654	
$	
158,150	
$	
158,693		

EXPENDITURES					

Principal Payments	
44,000	
44,000	
46,000	
Principal Payments Due In 2018	

Interest Payments	
116,710	
114,150	
112,390	
Interest Payments Due In 2018	

Bond Redemption	
0	
0	
303	
Estimated Excess Debt Collections	

Total Expenditures	
$	
160,710	
$	
158,150	
$	
158,693		

Excess/ (Shortfall)	
$	
(56)	
$	
-	
$	
-		

Series 2014 Bond Information

Original Par Amount =	$2,462,000	Annual Principal Payments Due =	November 1st	
Interest Rate =	4% - 5.00%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	November 2014			
Maturity Date =	November 2044			

6/9/2017 4:42 PM	III

Crestview West Community Development District Assessment Comparison

Original		
Projected		Fiscal Year		Fiscal Year	
Assessment		2015/2016		2016/2017	
   (Methodology)* 	 	Assessment* 	 	Assessment* 	

Fiscal Year 2017/2018
    Projected Assessment* 

Administrative	$	-	$	397.25	$	397.25	$	395.62	
Maintenance	$	-	$	7.00	$	7.00	$	8.59	
Debt	$	1,480.43	$	1,480.43	$	1,480.43	$	1,480.43	
Total	$	1,480.43	$	1,884.68	$	1,884.68	$	1,884.64	

* Assessments Include the Following : 				
4% Discount for Early Payments				
1% County Tax Collector Fee				
1% County Property Appraiser Fee				
Community Information: 				
Total Units	114			

6/9/2017 4:42 PM	IV