Title: CVW Proposed Budget 2024-2025.xlsx
Author: JWalker

Crestview West Community Development District

Proposed Budget For Fiscal Year 2024/2025
October 1, 2024 - September 30, 2025

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

PROPOSED BUDGET
CRESTVIEW WEST COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES | FISCAL YEAR 2024/2025 BUDGET
Administrative Assessments | 59,148
Maintenance Assessments | 2,234
Debt Assessments | 168,769
Other Revenues | 0
Interest | 480
TOTAL REVENUES | $	230,631
EXPENDITURES |
MAINTENANCE EXPENDITURES |
Engineering - Annual Report/Inspections | 1,000
Special Projects | 600
Miscellaneous Maintenance | 500
TOTAL MAINTENANCE EXPENDITURES | $	2,100
ADMINISTRATIVE EXPENDITURES |
Supervisor Fees | 4,000
Payroll Taxes | 306
Management | 20,748
Legal | 7,000
Assessment Roll | 6,500
Audit Fees | 4,000
Insurance | 7,100
Legal Advertisements | 1,750
Miscellaneous | 600
Postage | 200
Office Supplies | 375
Dues & Subscriptions | 175
Trustee Fee | 3,000
Continuing Disclosure Fee | 350
Website Management | 1,450
Administrative Contingency | 150
TOTAL ADMINISTRATIVE EXPENDITURES | $	57,704
TOTAL EXPENDITURES | $	59,804
REVENUES LESS EXPENDITURES | $	170,827
Bond Payments | (158,643)
BALANCE | $	12,184
County Appraiser & Tax Collector Fee | (4,603)
Discounts For Early Payments | (9,206)
EXCESS/ (SHORTFALL) | $	(1,625)
Carryover From Prior Year | 1,625
NET EXCESS/ (SHORTFALL) | $	0

DETAILED PROPOSED BUDGET
CRESTVIEW WEST COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES | FISCAL YEAR 2022/2023 ACTUAL | FISCAL YEAR 2023/2024 BUDGET | FISCAL YEAR 2024/2025 BUDGET | COMMENTS
Administrative Assessments | 59,558 | 59,164 | 59,148 | Expenditures Less Interest & Carryover/.94
Maintenance Assessments | 2,234 | 2,234 | 2,234 | Expenditures/.94
Debt Assessments | 168,770 | 168,769 | 168,769 | Bond Payments/.94
Other Revenues | 0 | 0 | 0 |
Interest | 1,319 | 240 | 480 | Estimated At $40 Per Month
TOTAL REVENUES | $	231,881 | $	230,407 | $	230,631 |
EXPENDITURES | | | |
MAINTENANCE EXPENDITURES | | | |
Engineering - Annual Report/Inspections | 1,060 | 1,000 | 1,000 | No Change From 2023/2024 Budget
Special Projects | 0 | 600 | 600 | No Change From 2023/2024 Budget
Miscellaneous Maintenance | 0 | 500 | 500 | No Change From 2023/2024 Budget
TOTAL MAINTENANCE EXPENDITURES | $	1,060 | $	2,100 | $	2,100 |
ADMINISTRATIVE EXPENDITURES | | | |
Supervisor Fees | 2,800 | 4,000 | 4,000 | Supervisor Fees
Payroll Taxes | 214 | 306 | 306 | Supervisor Fees * 7.65%
Management | 19,572 | 20,148 | 20,748 | CPI Adjustment (Capped at 3%)
Legal | 7,035 | 7,000 | 7,000 | No Change From 2023/2024 Budget
Assessment Roll | 6,500 | 6,500 | 6,500 | As Per Contract
Audit Fees | 3,800 | 3,900 | 4,000 | $100 Increase From 2023/2024 Budget
Insurance | 6,134 | 6,600 | 7,100 | Fiscal Year 2023/2024 Expenditure Was $6,594
Legal Advertisements | 349 | 750 | 1,750 | Costs Will Increase Due To Closing Of The Miami Business Review
Miscellaneous | 463 | 650 | 600 | $50 Decrease From 2023/2024 Budget
Postage | 125 | 200 | 200 | No Change From 2023/2024 Budget
Office Supplies | 241 | 375 | 375 | No Change From 2023/2024 Budget
Dues & Subscriptions | 175 | 175 | 175 | No Change From 2023/2024 Budget
Trustee Fee | 3,000 | 3,000 | 3,000 | No Change From 2023/2024 Budget
Continuing Disclosure Fee | 350 | 350 | 350 | No Change From 2023/2024 Budget
Website Management | 1,450 | 1,450 | 1,450 | No Change From 2023/2024 Budget
Administrative Contingency | 0 | 450 | 150 | Administrative Contingency
TOTAL ADMINISTRATIVE EXPENDITURES | $	52,208 | $	55,854 | $	57,704 |
TOTAL EXPENDITURES | $	53,268 | $	57,954 | $	59,804 |
REVENUES LESS EXPENDITURES | $	178,613 | $	172,453 | $	170,827 |
Bond Payments | (161,213) | (158,643) | (158,643) | 2025 P & I Payments Less Interest
BALANCE | $	17,400 | $	13,810 | $	12,184 |
County Appraiser & Tax Collector Fee | (2,223) | (4,603) | (4,603) | Two Percent Of Total Assessment Roll
Discounts For Early Payments | (8,087) | (9,207) | (9,206) | Four Percent Of Total Assessment Roll
EXCESS/ (SHORTFALL) | $	7,090 | $	0 | $	(1,625) |
Carryover From Prior Year | 0 | 0 | 1,625 | Carryover From Prior Year
NET EXCESS/ (SHORTFALL) | $	7,090 | $	0 | $	0 |

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
CRESTVIEW WEST COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES | FISCAL YEAR 2022/2023 ACTUAL | FISCAL YEAR 2023/2024 BUDGET | FISCAL YEAR 2024/2025 BUDGET | COMMENTS
Interest Income | 6,664 | 250 | 600 | Projected Interest For 2024/2025
NAV Tax Collection | 161,213 | 158,643 | 158,643 | Maximum Debt Service Collection
Total Revenues | $	167,877 | $	158,893 | $	159,243 |
EXPENDITURES | | | |
Principal Payments | 54,000 | 55,000 | 60,000 | Principal Payments Due In 2025
Interest Payments | 103,470 | 100,150 | 97,950 | Interest Payments Due In 2025
Bond Redemption | 0 | 3,743 | 1,293 | Estimated Excess Debt Collections
Total Expenditures | $	157,470 | $	158,893 | $	159,243 |
Excess/ (Shortfall) | $	10,407 | $	- | $	- |

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 1/1/24 =

November 2044

$2,026,000

Crestview West Community Development District Assessment Comparison

Fiscal Year | Fiscal Year | Fiscal Year | Fiscal Year | Fiscal Year
2020/2021 | 2021/2022 | 2022/2023 | 2023/2024 | 2024/2025
Assessment* | Assessment* | Assessment* | Assessment* | Projected Assessment*
Administrative | $	439.37 | $	439.33 | $	519.27 | $	518.99 | $ | 518.85
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 | $	1,939.40 | $	1,939.36 | $	2,019.30 | $	2,019.02 | $	2,018.88

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

2/10/2024 2:09 PM	^IV

2/10/2024 2:09 PM