Valencia Acres Community Development District

Proposed Budget For Fiscal Year 2019/2020
October 1, 2019 - September 30, 2020

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

PROPOSED BUDGET
VALENCIA ACRES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2019/2020 BUDGET	
O & M Assessments	45,996	
Debt Assessments	101,423	
Interest Income	120	
		
TOTAL REVENUES	$	147,539	
		
EXPENDITURES		
Engineering/Inspections	1,000	
Management	15,000	
Legal	7,000	
Assessment Roll	4,000	
Audit Fees	3,300	
Insurance	6,356	
Legal Advertisements	650	
Miscellaneous	500	
Postage	175	
Office Supplies	400	
Dues & Subscriptions	175	
Trustee Fee	2,700	
Continuing Disclosure Fee	350	
Website Management	1,750	
		
TOTAL EXPENDITURES	$	43,356	
		
REVENUES LESS EXPENDITURES	$	104,183	
		
Bond Payments	(95,338)	
		
Balance	$	8,845	
		
County Appraiser & Tax Collector Fee	(2,948)	
Discounts For Early Payments	(5,897)	
		
EXCESS/ (SHORTFALL)	$	-	
		
Carryover From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED PROPOSED BUDGET
VALENCIA ACRES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2017/2018
ACTUAL	
FISCAL YEAR 2018/2019
BUDGET	
FISCAL YEAR 2019/2020
BUDGET	

COMMENTS	
O & M Assessments	46,967	46,421	45,996	Expenditures Less Interest & Carryover/.94	
Debt Assessments	101,496	101,399	101,423	Bond Payments/.94	
Interest Income	115	120	120	Projected At $10 Per Month	
					
TOTAL REVENUES	$	148,578	$	147,940	$	147,539		
					
EXPENDITURES					
Engineering/Inspections	0	1,000	1,000	No Change From 2018/2019 Budget	
Management	15,000	15,000	15,000	No Change From 2018/2019 Budget	
Legal	6,875	7,000	7,000	No Change From 2018/2019 Budget	
Assessment Roll	4,000	4,000	4,000	No Change From 2018/2019 Budget	
Audit Fees	3,750	3,850	3,300	Accepted Amount For 2018/2019 Audit	
Insurance	5,778	6,356	6,356	Insurance Estimate	
Legal Advertisements	326	650	650	No Change From 2018/2019 Budget	
Miscellaneous	147	500	500	No Change From 2018/2019 Budget	
Postage	135	175	175	No Change From 2018/2019 Budget	
Office Supplies	274	400	400	No Change From 2018/2019 Budget	
Dues & Subscriptions	175	175	175	No Change From 2018/2019 Budget	
Trustee Fee	2,500	2,800	2,700	$100 Decrease From 2018/2019 Budget	
Continuing Disclosure Fee	350	350	350	No Change From 2018/2019 Budget	
Website Management	1,500	1,500	1,750	$250 Increase From 2018/2019 Budget	
					
TOTAL EXPENDITURES	$	40,810	$	43,756	$	43,356		
					
REVENUES LESS EXPENDITURES	$	107,768	$	104,184	$	104,183		
					
Bond Payments	(96,916)	(95,315)	(95,338)	2020 P & I Payments Less Earned Interest	
					
Balance	$	10,852	$	8,869	$	8,845		
					
County Appraiser & Tax Collector Fee	(1,431)	(2,956)	(2,948)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(5,267)	(5,913)	(5,897)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	4,154	$	-	$	-		
					
Carryover From Prior Year	0	0	0	Carryover Balance From Prior Years	
					
NET EXCESS/ (SHORTFALL)	$	4,154	$	-	$	-		

DETAILED PROPOSED DEBT SERVICE BUDGET
VALENCIA ACRES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2017/2018 ACTUAL	FISCAL YEAR 2018/2019 BUDGET	FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	

Interest Income	
465	
25	
25	
Projected Interest For 2019/2020	

NAV Tax Collection	
96,916	
95,315	
95,388	
2020 P & I Payments Less Earned Interest	

Total Revenues	
$	97,381	
$	95,340	
$	95,413		

EXPENDITURES					

Principal Payments	
53,247	
55,136	
57,093	
Principal Payment Due In 2020	

Interest Payments	
43,080	
40,204	
38,320	
Interest Payments Due In 2020	

Total Expenditures	
$	96,327	
$	95,340	
$	95,413		

Excess/ (Shortfall)	
$	1,054	
$	-	
$	-		

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 1/1/19 =	May 2034

$1,160,741			

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	2016/2017	2017/2018	2018/2019	2018/2019	
Assessment	Assessment	Assessment	Assessment	Assessment	Assessment	Projected Assessment	
Before Discount*	Before Discount*	Before Discount*	Before Discount*	Before Discount*	Before Discount*	Before Discount*	

O & M	$	
-	
$	
-	
$	
-	
$	
325.83	
$	
324.39	
$	
322.37	
$	
319.42	
Debt	$	-		$	704.84	$	809.51	$	704.84	$	704.84	$	704.84	$	704.84	

Total	$	1,187.50	$	704.84	$	809.51	$	1,030.67	$	1,029.23	$	1,027.21	$	1,024.26	

* Assessments Include the Following :

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

Community Information:
Total Units	144

3/4/2019  12:13 PM	IV