Crestview West Community Development District

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

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

FINAL 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 FINAL 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 FINAL 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

5/5/2024 12:57 PM	IV