Valencia Acres Community Development District

Proposed Budget For Fiscal Year 2022/2023
October 1, 2022 - September 30, 2023

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

PROPOSED BUDGET
VALENCIA ACRES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2022/2023 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	3,600	
Insurance	6,200	
Legal Advertisements	650	
Miscellaneous	425	
Postage	175	
Office Supplies	350	
Dues & Subscriptions	175	
Trustee Fee	2,550	
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 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2020/2021
ACTUAL	
FISCAL YEAR 2021/2022
BUDGET	
FISCAL YEAR 2022/2023
BUDGET	

COMMENTS	
O & M Assessments	46,036	45,856	45,856	Expenditures Less Interest & Carryover/.94	
Debt Assessments	101,497	101,283	101,283	Bond Payments/.94	
Interest Income	112	120	120	Projected At $10 Per Month	
					
TOTAL REVENUES	$	147,645	$	147,259	$	147,259		
					
EXPENDITURES					
Engineering/Inspections	0	1,000	1,000	No Change From 2021/2022 Budget	
Management	15,000	15,000	15,000	No Change From 2021/2022 Budget	
Legal	6,050	7,000	7,000	No Change From 2021/2022 Budget	
Assessment Roll	4,000	4,000	4,000	No Change From 2021/2022 Budget	
Audit Fees	3,400	3,500	3,600	Accepted Amount For 2021/2022 Audit	
Insurance	5,513	6,200	6,200	Insurance Estimate	
Legal Advertisements	544	650	650	No Change From 2021/2022 Budget	
Miscellaneous	10	450	425	$25 Decrease From 2021/2022 Budget	
Postage	61	175	175	No Change From 2021/2022 Budget	
Office Supplies	54	375	350	$25 Decrease From 2021/2022 Budget	
Dues & Subscriptions	175	175	175	No Change From 2021/2022 Budget	
Trustee Fee	2,500	2,600	2,550	$50 Decrease From 2021/2022 Budget	
Continuing Disclosure Fee	350	350	350	No Change From 2021/2022 Budget	
Website Management	1,750	1,750	1,750	No Change From 2021/2022 Budget	
					
TOTAL EXPENDITURES	$	39,407	$	43,225	$	43,225		
					
REVENUES LESS EXPENDITURES	$	108,238	$	104,034	$	104,034		
					
Bond Payments	(96,838)	(95,206)	(95,206)	2023 P & I Payments Less Earned Interest	
					
Balance	$	11,400	$	8,828	$	8,828		
					
County Appraiser & Tax Collector Fee	(1,421)	(2,943)	(2,943)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(5,345)	(5,885)	(5,885)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	4,634	$	0	$	0		
					
Carryover From Prior Year	0	0	0	Carryover Balance From Prior Years	
					
NET EXCESS/ (SHORTFALL)	$	4,634	$	0	$	0		

DETAILED PROPOSED DEBT SERVICE BUDGET
VALENCIA ACRES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	FISCAL YEAR 2020/2021 ACTUAL	FISCAL YEAR 2021/2022 BUDGET	FISCAL YEAR 2022/2023 BUDGET	

COMMENTS	

Interest Income	
3	
25	
5	
Projected Interest For 2022/2023	

NAV Tax Collection	
96,838	
95,206	
95,187	
2023 P & I Payments Less Earned Interest	

Total Revenues	
$	96,841	
$	95,231	
$	95,192		

EXPENDITURES					

Principal Payments	
59,119	
61,217	
63,389	
Principal Payment Due In 2023	

Interest Payments	
37,302	
34,015	
31,803	
Interest Payments Due In 2023	

Total Expenditures	
$	96,421	
$	95,231	
$	95,192		

Excess/ (Shortfall)	
$	420	
$	-	
$	-		

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 1/1/22 =	May 2034

$989,394			

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 2019/2020
Assessment
Before Discount*	Fiscal Year 2020/2021
Assessment
Before Discount*	Fiscal Year 2021/2022
Assessment
Before Discount*	Fiscal Year 2022/2023
Projected Assessment
Before Discount*	

O & M	$	
-	
$	
-	
$	
-	
$	
319.42	
$	
318.45	
$	
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	$	1,024.26	$	1,023.29	$	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

3/9/2022 5:21 PM	IV