Valencia Acres Community Development District

Proposed Budget For Fiscal Year 2020/2021
October 1, 2020 - September 30, 2021

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

PROPOSED BUDGET
VALENCIA ACRES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2020/2021
BUDGET	
O & M Assessments	45,856	
Debt Assessments	101,323	
Interest Income	120	
		
TOTAL REVENUES	$	147,299	
		
EXPENDITURES		
Engineering/Inspections	1,000	
Management	15,000	
Legal	7,000	
Assessment Roll	4,000	
Audit Fees	3,400	
Insurance	6,200	
Legal Advertisements	650	
Miscellaneous	475	
Postage	175	
Office Supplies	400	
Dues & Subscriptions	175	
Trustee Fee	2,650	
Continuing Disclosure Fee	350	
Website Management	1,750	
		
TOTAL EXPENDITURES	$	43,225	
		
REVENUES LESS EXPENDITURES	$	104,074	
		
Bond Payments	(95,244)	
		
Balance	$	8,830	
		
County Appraiser & Tax Collector Fee	(2,943)	
Discounts For Early Payments	(5,887)	
		
EXCESS/ (SHORTFALL)	$	-	
		
Carryover From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED PROPOSED BUDGET
VALENCIA ACRES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2018/2019
ACTUAL	
FISCAL YEAR 2019/2020
BUDGET	
FISCAL YEAR 2020/2021
BUDGET	

COMMENTS	
O & M Assessments	46,845	45,996	45,856	Expenditures Less Interest & Carryover/.94	
Debt Assessments	101,399	101,423	101,323	Bond Payments/.94	
Interest Income	124	120	120	Projected At $10 Per Month	
					
TOTAL REVENUES	$	148,368	$	147,539	$	147,299		
					
EXPENDITURES					
Engineering/Inspections	0	1,000	1,000	No Change From 2019/2020 Budget	
Management	15,000	15,000	15,000	No Change From 2019/2020 Budget	
Legal	6,565	7,000	7,000	No Change From 2019/2020 Budget	
Assessment Roll	4,000	4,000	4,000	No Change From 2019/2020 Budget	
Audit Fees	3,200	3,300	3,400	Accepted Amount For 2019/2020 Audit	
Insurance	5,000	6,356	6,200	Insurance Estimate	
Legal Advertisements	503	650	650	No Change From 2019/2020 Budget	
Miscellaneous	143	500	475	$25 Decrease From 2019/2020 Budget	
Postage	94	175	175	No Change From 2019/2020 Budget	
Office Supplies	260	400	400	No Change From 2019/2020 Budget	
Dues & Subscriptions	175	175	175	No Change From 2019/2020 Budget	
Trustee Fee	2,500	2,700	2,650	$50 Decrease From 2019/2020 Budget	
Continuing Disclosure Fee	350	350	350	No Change From 2019/2020 Budget	
Website Management	1,500	1,750	1,750	No Change From 2019/2020 Budget	
					
TOTAL EXPENDITURES	$	39,290	$	43,356	$	43,225		
					
REVENUES LESS EXPENDITURES	$	109,078	$	104,183	$	104,074		
					
Bond Payments	(96,803)	(95,338)	(95,244)	2021 P & I Payments Less Earned Interest	
					
Balance	$	12,275	$	8,845	$	8,830		
					
County Appraiser & Tax Collector Fee	(1,429)	(2,948)	(2,943)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(5,273)	(5,897)	(5,887)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	5,573	$	-	$	-		
					
Carryover From Prior Year	0	0	0	Carryover Balance From Prior Years	
					
NET EXCESS/ (SHORTFALL)	$	5,573	$	-	$	-		

DETAILED PROPOSED DEBT SERVICE BUDGET
VALENCIA ACRES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2018/2019 ACTUAL	FISCAL YEAR 2019/2020 BUDGET	FISCAL YEAR 2020/2021 BUDGET	

COMMENTS	

Interest Income	
938	
25	
25	
Projected Interest For 2020/2021	

NAV Tax Collection	
95,726	
95,388	
95,244	
2021 P & I Payments Less Earned Interest	

Total Revenues	
$	96,664	
$	95,413	
$	95,269		

EXPENDITURES					

Principal Payments	
55,136	
57,093	
59,119	
Principal Payment Due In 2021	

Interest Payments	
41,200	
38,320	
36,150	
Interest Payments Due In 2021	

Total Expenditures	
$	96,336	
$	95,413	
$	95,269		

Excess/ (Shortfall)	
$	328	
$	-	
$	-		

Series 2016 Bond Refunding Information

Original Par Amount =	$1,265,410	Annual Principal Payments Due =	May 1st	
Interest Rate =	3.5% - 5.8%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	July 2016			
Maturity Date =

Par Amount As Of 1/1/20 =	May 2034

$1,105,605			

Valencia Acres Community Development District
Assessment Comparison

Original	2017 through 2025	2026 through 2034	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
Projected	Debt Service	Debt Service	2017/2018	2018/2019	2019/2020	2020/2021	
Assessment	Assessment	Assessment	Assessment	Assessment	Assessment	Projected Assessment	
Before Discount*	Before Discount*	Before Discount*	Before Discount*	Before Discount*	Before Discount*	Before Discount*	

O & M	$	
-	
$	
-	
$	
-	
$	
324.39	
$	
322.37	
$	
319.42	
$	
318.45	
Debt	$	-		$	704.84	$	809.51	$	704.84	$	704.84	$	704.84	$	704.84	

Total	$	1,187.50	$	704.84	$	809.51	$	1,029.23	$	1,027.21	$	1,024.26	$	1,023.29	

* Assessments Include the Following :

4% Discount for Early Payments 1% County Tax Collector Fee
1% County Property Appraiser Fee

Community Information:
Total Units	144

3/11/2020  10:52 AM	IV