Valencia Acres Community Development District

Proposed Budget For Fiscal Year 2023/2024
October 1, 2023 - September 30, 2024

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

PROPOSED BUDGET
VALENCIA ACRES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2023/2024 BUDGET	
O & M Assessments	45,856	
Debt Assessments	101,283	
Interest Income	240	
		
TOTAL REVENUES	$	147,379	
		
EXPENDITURES		
Supervisor Fees	4,000	
Payroll Taxes (Employer)	305	
Engineering/Inspections	1,000	
Management	15,000	
Legal	7,000	
Assessment Roll	4,000	
Audit Fees	3,700	
Insurance	6,600	
Legal Advertisements	650	
Miscellaneous	400	
Postage	175	
Office Supplies	325	
Dues & Subscriptions	175	
Trustee Fees	2,550	
Continuing Disclosure Fee	350	
Website Management	1,750	
		
TOTAL EXPENDITURES	$	47,980	
		
REVENUES LESS EXPENDITURES	$	99,399	
		
Bond Payments	(95,206)	
		
Balance	$	4,193	
		
County Appraiser & Tax Collector Fee	(2,943)	
Discounts For Early Payments	(5,885)	
		
EXCESS/ (SHORTFALL)	$	(4,635)	
		
Carryover From Prior Year	4,635	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED PROPOSED BUDGET
VALENCIA ACRES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2021/2022
ACTUAL	
FISCAL YEAR 2022/2023
BUDGET	
FISCAL YEAR 2023/2024
BUDGET	

COMMENTS	
O & M Assessments	46,103	45,856	45,856	Expenditures Less Interest & Carryover/.94	
Debt Assessments	101,480	101,283	101,283	Bond Payments/.94	
Interest Income	117	120	240	Projected At $20 Per Month	
					
TOTAL REVENUES	$	147,700	$	147,259	$	147,379		
					
EXPENDITURES					
Supervisor Fees	0	0	4,000	Supervisor Fees	
Payroll Taxes (Employer)	0	0	305	Supervisor Fees *7.65%	
Engineering/Inspections	0	1,000	1,000	No Change From 2022/2023 Budget	
Management	15,000	15,000	15,000	No Change From 2022/2023 Budget	
Legal	6,010	7,000	7,000	No Change From 2022/2023 Budget	
Assessment Roll	4,000	4,000	4,000	No Change From 2022/2023 Budget	
Audit Fees	3,500	3,600	3,700	$100 Increase From 2022/2023 Budget	
Insurance	5,706	6,200	6,600	Fiscal Year 2022/2023 Expenditure was $6,134	
Legal Advertisements	571	650	650	No Change From 2022/2023 Budget	
Miscellaneous	19	425	400	$25 Decrease From 2022/2023 Budget	
Postage	104	175	175	No Change From 2022/2023 Budget	
Office Supplies	116	350	325	$25 Decrease From 2022/2023 Budget	
Dues & Subscriptions	175	175	175	No Change From 2022/2023 Budget	
Trustee Fees	2,500	2,550	2,550	No Change From 2022/2023 Budget	
Continuing Disclosure Fee	350	350	350	No Change From 2022/2023 Budget	
Website Management	1,750	1,750	1,750	No Change From 2022/2023 Budget	
					
TOTAL EXPENDITURES	$	39,801	$	43,225	$	47,980		
					
REVENUES LESS EXPENDITURES	$	107,899	$	104,034	$	99,399		
					
Bond Payments	(96,786)	(95,206)	(95,206)	2024 P & I Payments Less Earned Interest	
					
Balance	$	11,113	$	8,828	$	4,193		
					
County Appraiser & Tax Collector Fee	(1,422)	(2,943)	(2,943)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(5,396)	(5,885)	(5,885)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	4,295	$	0	$	(4,635)		
					
Carryover From Prior Year	0	0	4,635	Carryover Balance From Prior Years	

NET EXCESS/ (SHORTFALL)	
$	4,295	
$	0	
$	-		

DETAILED PROPOSED DEBT SERVICE BUDGET
VALENCIA ACRES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	FISCAL YEAR 2021/2022 ACTUAL	FISCAL YEAR 2022/2023 BUDGET	FISCAL YEAR 2023/2024 BUDGET	

COMMENTS	

Interest Income	
188	
5	
100	
Projected Interest For 2023/2024	

NAV Tax Collection	
96,786	
95,187	
95,136	
2023 P & I Payments Less Earned Interest	

Total Revenues	
$	96,974	
$	95,192	
$	95,236		

EXPENDITURES					

Principal Payments	
61,217	
63,389	
65,638	
Principal Payment Due In 2024	

Interest Payments	
35,093	
31,803	
29,598	
Interest Payments Due In 2024	

Total Expenditures	
$	96,310	
$	95,192	
$	95,236		

Excess/ (Shortfall)	
$	664	
$	-	
$	-		

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 = Maturity Date =	July 2016
May 2034			

Par Amount As Of 1/1/23 =	
$928,177			

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 2020/2021
Assessment
Before Discount*	Fiscal Year 2021/2022
Assessment
Before Discount*	Fiscal Year 2022/2023
Assessment
Before Discount*	Fiscal Year 2023/2024
Projected Assessment
Before Discount*	

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

3/8/2023 9:06 AM	IV