Terracina 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
TERRACINA COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2021/2022 BUDGET	
O & M ASSESSMENTS	171,487	
DEBT ASSESSMENTS	314,087	
OTHER REVENUES	0	
INTEREST INCOME	120	
		
TOTAL REVENUES	$	485,694	
		
EXPENDITURES		
SUPERVISOR FEES	7,000	
PAYROLL TAXES - EMPLOYER	560	
AQUATIC LAKE MAINTENANCE	25,000	
FOUNTAIN MAINTENANCE	15,000	
ENGINEERING/INSPECTIONS	6,000	
MANAGEMENT	34,908	
SECRETARIAL	4,200	
LEGAL	4,500	
ASSESSMENT ROLL	8,000	
AUDIT FEES	4,225	
INSURANCE	6,400	
LEGAL ADVERTISING	1,500	
MISCELLANEOUS	1,100	
POSTAGE	300	
OFFICE SUPPLIES	600	
DUES & SUBSCRIPTIONS	175	
TRUSTEE FEES	4,500	
CONTINUING DISCLOSURE FEE	350	
WEBSITE MANAGEMENT	2,000	
CONTINGENCY/FOUNTAINS	35,000	
		
TOTAL EXPENDITURES	$	161,318	
		
REVENUES LESS EXPENDITURES	$	324,376	
		
BOND PAYMENTS	(295,242)	
		
BALANCE	$	29,134	
		
COUNTY APPRAISER & TAX COLLECTOR FEE	(9,711)	
DISCOUNT FOR EARLY PAYMENTS	(19,423)	
		
EXCESS/ (SHORTFALL)	$	-	
		
CARRYOVER FROM PRIOR YEAR	0	
		
NET EXCESS / (SHORTFALL)	$	-	

DETAILED PROPOSED BUDGET
TERRACINA 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	129,242	131,535	171,487	Expenditures Less Interest & Carryover/.94	
DEBT ASSESSMENTS	336,180	334,144	314,087	Bond Payment /.94	
OTHER REVENUES	0	0	0		
INTEREST INCOME	121	240	120	Projected At $10 Per Month	
					
TOTAL REVENUES	$	465,543	$	465,919	$	485,694		
					
EXPENDITURES					
SUPERVISOR FEES	6,400	7,000	7,000	No Change From 2020/2021 Budget	
PAYROLL TAXES - EMPLOYER	490	560	560	Supervisor Fees * 8.00%	
AQUATIC LAKE MAINTENANCE	21,505	22,000	25,000	FY 20/21 Expenditure Through 3/31 Is $13,740	
FOUNTAIN MAINTENANCE	13,274	5,000	15,000	FY 20/21 Expenditure Through 3/31 Is $6,127	
ENGINEERING/INSPECTIONS	1,881	6,000	6,000	No Change From 2020/2021 Budget	
MANAGEMENT	33,660	34,428	34,908	CPI Adjustment	
SECRETARIAL	4,200	4,200	4,200	No Change From 2020/2021 Budget	
LEGAL	3,472	4,500	4,500	No Change From 2020/2021 Budget	
ASSESSMENT ROLL	8,000	8,000	8,000	No Change From 2020/2021 Budget	
AUDIT FEES	4,000	4,120	4,225	Accepted Amount For 2020/2021 Audit	
INSURANCE	5,513	6,400	6,400	Insurance Estimate	
LEGAL ADVERTISING	2,336	1,150	1,500	$350 Increase From 2020/2021 Budget	
MISCELLANEOUS	756	1,100	1,100	No Change From 2020/2021 Budget	
POSTAGE	72	300	300	No Change From 2020/2021 Budget	
OFFICE SUPPLIES	412	600	600	No Change From 2020/2021 Budget	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2020/2021 Budget	
TRUSTEE FEES	4,500	4,500	4,500	No Change From 2020/2021 Budget	
CONTINUING DISCLOSURE FEE	350	350	350	No Change From 2020/2021 Budget	
WEBSITE MANAGEMENT	2,000	2,000	2,000	No Change From 2020/2021 Budget	
CONTINGENCY/FOUNTAINS	35,620	11,500	35,000	Contingency	
					
TOTAL EXPENDITURES	$	148,616	$	123,883	$	161,318		
					
REVENUES LESS EXPENDITURES	$	316,927	$	342,036	$	324,376		
					
BOND PAYMENTS	(320,759)	(314,095)	(295,242)	2022 P & I Payments Less Earned Interest	
					
BALANCE	$	(3,832)	$	27,941	$	29,134		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(2,511)	(9,314)	(9,711)	Two Percent Of Total Assessment Roll	
DISCOUNT FOR EARLY PAYMENTS	(17,007)	(18,627)	(19,423)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	(23,350)	$	-	$	-		
					
CARRYOVER FROM PRIOR YEAR	0	0	0	Carryover From Prior Year	
					
NET EXCESS / (SHORTFALL)	$	(23,350)	$	-	$	-		

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
TERRACINA 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	
2,502	
200	
25	
Projected Interest For 2021/2022	

NAV Tax Collection	
320,759	
314,095	
295,242	
Maximum Debt Service Collection	

Total Revenues	
$	323,261	
$	314,295	
$	295,267		

EXPENDITURES					

Principal Payments	
170,000	
175,000	
230,000	
Principal Payment Due In 2022	

Interest Payments	
113,730	
104,295	
64,414	
Interest Payments Due In 2022	

Bond Redemption	
40,000	
35,000	
853	
Estimated Excess Debt Collections	

Total Expenditures	
$	323,730	
$	314,295	
$	295,267		

Excess/ (Shortfall)	
$	(469)	
$	-	
$	-		

Projected Series 2021 Bond Refunding Information

Original Par Amount =	$2,856,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	2.350%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	June 2021			
Maturity Date =

Par Amount As Of 6/30/21 =	May 2032

$2,856,000			

Terracina Community Development District Assessment Comparison

Original
Projected Assessment*	Fiscal Year 2018/2019
Assessment*	Fiscal Year 2019/2020
Assessment*	Fiscal Year 2020/2021
Assessment*	Fiscal Year 2021/2022
Projected Assessment*	

O & M		

$	150.32		

$	274.79		

$	281.04		

$	285.95		
$	
372.80	
Debt		$	848.38		$	740.46		$	733.14		$	727.99		$	684.29	
Total		$	998.70		$	1,015.25		$	1,014.18		$	1,013.94		$	1,057.09	

* Assessments Include the Following :
4% Discount for Early Payments 1% County Tax Collector Fee

Total Units	460	
Prepayments	1	
Billed for Debt	459	

1% County Property Appraiser Fee Community Information:	

6/14/2021 1:54 PM	IV