Crestview West Community Development District

Proposed Budget For Fiscal Year 2022/2023
October 1, 2022 - September 30, 2023

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

PROPOSED BUDGET
CRESTVIEW WEST COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2022/2023 BUDGET	
Administrative Assessments	59,197	
Maintenance Assessments	2,234	
Debt Assessments	168,769	
Other Revenues	0	
Interest	60	
		
TOTAL REVENUES	$	230,260	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
Engineering - Annual Report/Inspections	1,000	
Special Projects	600	
Miscellaneous Maintenance	500	
TOTAL MAINTENANCE EXPENDITURES	$	2,100	
		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	5,000	
Payroll Taxes	383	
Management	19,572	
Legal	7,000	
Assessment Roll	6,500	
Audit Fees	3,800	
Insurance	6,200	
Legal Advertisements	800	
Miscellaneous	500	
Postage	200	
Office Supplies	375	
Dues & Subscriptions	175	
Trustee Fee	3,000	
Continuing Disclosure Fee	350	
Website Management	1,450	
Administrative Contingency	400	
TOTAL ADMINISTRATIVE EXPENDITURES	$	55,705	
		
TOTAL EXPENDITURES	$	57,805	
		
REVENUES LESS EXPENDITURES	$	172,455	
		
Bond Payments	(158,643)	
		
BALANCE	$	13,812	
		
County Appraiser & Tax Collector Fee	(4,604)	
Discounts For Early Payments	(9,208)	
		
EXCESS/ (SHORTFALL)	$	0	
		
Carryover From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	0	

DETAILED PROPOSED BUDGET
CRESTVIEW WEST COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2020/2021 ACTUAL	
FISCAL YEAR 2021/2022 BUDGET	
FISCAL YEAR 2022/2023 BUDGET	

COMMENTS	
Administrative Assessments	50,277	50,083	59,197	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	2,234	2,234	2,234	Expenditures/.94	
Debt Assessments	168,769	168,769	168,769	Bond Payments/.94	
Other Revenues	0	0	0		
Interest	106	48	60	Estimated At $5 Per Month	
					
TOTAL REVENUES	$	221,386	$	221,134	$	230,260		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
Engineering - Annual Report/Inspections	975	900	1,000	$100 Increase From 2021/2022 Budget	
Special Projects	0	600	600	No Change From 2021/2022 Budget	
Miscellaneous Maintenance	0	600	500	$100 Decrease From 2021/2022 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	975	$	2,100	$	2,100		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	3,400	5,000	5,000	Supervisor Fees	
Payroll Taxes	260	383	383	Supervisor Fees * 7.65%	
Management	18,756	19,008	19,572	CPI Adjustment (Capped at 3%)	
Legal	6,700	7,000	7,000	No Change From 2021/2022 Budget	
Assessment Roll	5,000	6,500	6,500	As Per Contract	
Audit Fees	3,600	3,700	3,800	Accepted Amount For 2021/2022 Audit	
Insurance	5,513	5,800	6,200	Insurance Estimate	
Legal Advertisements	466	900	800	$100 Decrease From 2021/2022 Budget	
Miscellaneous	335	500	500	No Change From 2021/2022 Budget	
Postage	114	200	200	No Change From 2021/2022 Budget	
Office Supplies	160	400	375	$25 Decrease From 2021/2022 Budget	
Dues & Subscriptions	175	175	175	No Change From 2021/2022 Budget	
Trustee Fee	3,000	3,000	3,000	No Change From 2021/2022 Budget	
Continuing Disclosure Fee	350	350	350	Dissemination Agent Fee	
Website Management	1,450	1,450	1,450	No Change From 2021/2022 Budget	
Administrative Contingency	0	400	400	Administrative Contingency	
TOTAL ADMINISTRATIVE EXPENDITURES	$	49,279	$	54,766	$	55,705		
					
TOTAL EXPENDITURES	$	50,254	$	56,866	$	57,805		
					
REVENUES LESS EXPENDITURES	$	171,132	$	164,268	$	172,455		
					
Bond Payments	(160,955)	(158,643)	(158,643)	2023 P & I Payments Less Interest	
					
BALANCE	$	10,177	$	5,625	$	13,812		
					
County Appraiser & Tax Collector Fee	(2,131)	(4,422)	(4,604)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(8,107)	(8,843)	(9,208)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	(61)	$	(7,640)	$	0		
					
Carryover From Prior Year	0	7,640	0	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	(61)	$	(0)	$	0		

DETAILED FINAL DEBT SERVICE FUND BUDGET
CRESTVIEW WEST COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	FISCAL YEAR 2020/2021 ACTUAL	FISCAL YEAR 2021/2022 BUDGET	FISCAL YEAR 2022/2023 BUDGET	

COMMENTS	

Interest Income	
16	
25	
25	
Projected Interest For 2022/2023	

NAV Tax Collection	
160,955	
158,643	
158,643	
Maximum Debt Service Collection	

Total Revenues	
$	160,971	
$	158,668	
$	158,668		

EXPENDITURES					

Principal Payments	
50,000	
54,000	
56,000	
Principal Payments Due In 2023	

Interest Payments	
107,630	
104,550	
102,390	
Interest Payments Due In 2023	

Bond Redemption	
0	
118	
278	
Estimated Excess Debt Collections	

Total Expenditures	
$	157,630	
$	158,668	
$	158,668		

Excess/ (Shortfall)	
$	3,341	
$	-	
$	-		

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 =

Par Amount As Of 1/1/22 =	November 2044

$2,136,000			

Crestview West Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2018/2019	2019/2020	2020/2021	2021/2022	2022/2023	
	Assessment*			Assessment*			Assessment*			Assessment*		  Projected Assessment* 	

Administrative	
$	439.83	
$	439.47	
$	439.37	
$	439.33	
$	
519.27	
Maintenance	$	19.60	$	19.60	$	19.60	$	19.60	$	19.60	
Debt	$	1,480.43	$	1,480.43	$	1,480.43	$	1,480.43	$	1,480.43	
Total	$	1,939.86	$	1,939.50	$	1,939.40	$	1,939.36	$	2,019.30	

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

1/31/2022 9:53 AM	IV