Valencia Acres Community Development District

Proposed Budget For Fiscal Year 2021/2022
October 1, 2021 - September 30, 2022

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

PROPOSED BUDGET
VALENCIA ACRES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2021/2022
BUDGET	
O & M Assessments	45,856	
Debt Assessments	101,283	
Interest Income	120	
		
TOTAL REVENUES	$	147,259	
		
EXPENDITURES		
Engineering/Inspections	1,000	
Management	15,000	
Legal	7,000	
Assessment Roll	4,000	
Audit Fees	3,500	
Insurance	6,200	
Legal Advertisements	650	
Miscellaneous	450	
Postage	175	
Office Supplies	375	
Dues & Subscriptions	175	
Trustee Fee	2,600	
Continuing Disclosure Fee	350	
Website Management	1,750	
		
TOTAL EXPENDITURES	$	43,225	
		
REVENUES LESS EXPENDITURES	$	104,034	
		
Bond Payments	(95,206)	
		
Balance	$	8,828	
		
County Appraiser & Tax Collector Fee	(2,943)	
Discounts For Early Payments	(5,885)	
		
EXCESS/ (SHORTFALL)	$	0	
		
Carryover From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	0	

DETAILED PROPOSED BUDGET
VALENCIA ACRES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2019/2020
ACTUAL	
FISCAL YEAR 2020/2021
BUDGET	
FISCAL YEAR 2021/2022
BUDGET	

COMMENTS	
O & M Assessments	46,320	45,856	45,856	Expenditures Less Interest & Carryover/.94	
Debt Assessments	101,497	101,323	101,283	Bond Payments/.94	
Interest Income	106	120	120	Projected At $10 Per Month	
					
TOTAL REVENUES	$	147,923	$	147,299	$	147,259		
					
EXPENDITURES					
Engineering/Inspections	0	1,000	1,000	No Change From 2020/2021 Budget	
Management	15,000	15,000	15,000	No Change From 2020/2021 Budget	
Legal	5,935	7,000	7,000	No Change From 2020/2021 Budget	
Assessment Roll	4,000	4,000	4,000	No Change From 2020/2021 Budget	
Audit Fees	3,300	3,400	3,500	Accepted Amount For 2020/2021 Audit	
Insurance	5,251	6,200	6,200	Insurance Estimate	
Legal Advertisements	465	650	650	No Change From 2020/2021 Budget	
Miscellaneous	89	475	450	$25 Decrease From 2020/2021 Budget	
Postage	56	175	175	No Change From 2020/2021 Budget	
Office Supplies	106	400	375	$25 Decrease From 2020/2021 Budget	
Dues & Subscriptions	175	175	175	No Change From 2020/2021 Budget	
Trustee Fee	2,500	2,650	2,600	$50 Decrease From 2020/2021 Budget	
Continuing Disclosure Fee	350	350	350	No Change From 2020/2021 Budget	
Website Management	1,750	1,750	1,750	No Change From 2020/2021 Budget	
					
TOTAL EXPENDITURES	$	38,977	$	43,225	$	43,225		
					
REVENUES LESS EXPENDITURES	$	108,946	$	104,074	$	104,034		
					
Bond Payments	(96,887)	(95,244)	(95,206)	2022 P & I Payments Less Earned Interest	
					
Balance	$	12,059	$	8,830	$	8,828		
					
County Appraiser & Tax Collector Fee	(1,424)	(2,943)	(2,943)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(5,278)	(5,887)	(5,885)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	5,357	$	-	$	0		
					
Carryover From Prior Year	0	0	0	Carryover Balance From Prior Years	
					
NET EXCESS/ (SHORTFALL)	$	5,357	$	-	$	0		

DETAILED PROPOSED DEBT SERVICE BUDGET
VALENCIA ACRES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	FISCAL YEAR 2019/2020 ACTUAL	FISCAL YEAR 2020/2021 BUDGET	FISCAL YEAR 2021/2022 BUDGET	

COMMENTS	

Interest Income	
255	
25	
25	
Projected Interest For 2021/2022	

NAV Tax Collection	
96,887	
95,244	
95,206	
2022 P & I Payments Less Earned Interest	

Total Revenues	
$	97,142	
$	95,269	
$	95,231		

EXPENDITURES					

Principal Payments	
57,093	
59,119	
61,217	
Principal Payment Due In 2022	

Interest Payments	
39,336	
36,150	
34,015	
Interest Payments Due In 2022	

Total Expenditures	
$	96,429	
$	95,269	
$	95,231		

Excess/ (Shortfall)	
$	714	
$	-	
$	-		

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 1/1/21 =	May 2034

$1,048,512			

Valencia Acres Community Development District
Assessment Comparison

Original Projected Assessment
Before Discount*	2017 through 2025 Debt Service Assessment
Before Discount*	2026 through 2034 Debt Service Assessment
Before Discount*	Fiscal Year 2018/2019
Assessment
Before Discount*	Fiscal Year 2019/2020
Assessment
Before Discount*	Fiscal Year 2020/2021
Assessment
Before Discount*	Fiscal Year 2021/2022
Projected Assessment
Before Discount*	

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

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

3/10/2021 8:35 AM	IV