Terracina Community Development District

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

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

FINAL BUDGET
TERRACINA COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2022/2023 BUDGET	
O & M ASSESSMENTS	171,428	
DEBT ASSESSMENTS	314,087	
OTHER REVENUES	0	
INTEREST INCOME	120	
		
TOTAL REVENUES	$	485,635	
		
EXPENDITURES		
SUPERVISOR FEES	7,000	
PAYROLL TAXES - EMPLOYER	560	
AQUATIC LAKE MAINTENANCE	25,000	
FOUNTAIN MAINTENANCE	15,000	
ENGINEERING/INSPECTIONS	6,000	
MANAGEMENT	35,952	
SECRETARIAL	4,200	
LEGAL	5,000	
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	33,400	
		
TOTAL EXPENDITURES	$	161,262	
		
REVENUES LESS EXPENDITURES	$	324,373	
		
BOND PAYMENTS	(295,242)	
		
BALANCE	$	29,131	
		
COUNTY APPRAISER & TAX COLLECTOR FEE	(9,710)	
DISCOUNT FOR EARLY PAYMENTS	(19,421)	
		
EXCESS/ (SHORTFALL)	$	-	
		
CARRYOVER FROM PRIOR YEAR	0	
		
NET EXCESS / (SHORTFALL)	$	-	

DETAILED FINAL BUDGET
TERRACINA 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	131,379	171,487	171,428	Expenditures Less Interest & Carryover/.94	
DEBT ASSESSMENTS	333,676	314,087	314,087	Bond Payment /.94	
OTHER REVENUES	0	0	0		
INTEREST INCOME	100	120	120	Projected At $10 Per Month	
					
TOTAL REVENUES	$	465,155	$	485,694	$	485,635		
					
EXPENDITURES					
SUPERVISOR FEES	8,000	7,000	7,000	No Change From 2021/2022 Budget	
PAYROLL TAXES - EMPLOYER	612	560	560	Supervisor Fees * 8.00%	
AQUATIC LAKE MAINTENANCE	15,435	25,000	25,000	No Change From 2021/2022 Budget	
FOUNTAIN MAINTENANCE	15,110	15,000	15,000	No Change From 2021/2022 Budget	
ENGINEERING/INSPECTIONS	4,482	6,000	6,000	No Change From 2021/2022 Budget	
MANAGEMENT	34,428	34,908	35,952	CPI Adjustment (Capped At 3%)	
SECRETARIAL	4,200	4,200	4,200	No Change From 2021/2022 Budget	
LEGAL	6,074	4,500	5,000	$500 Increase From 2021/2022 Budget	
ASSESSMENT ROLL	8,000	8,000	8,000	No Change From 2021/2022 Budget	
AUDIT FEES	4,120	4,225	4,225	Accepted Amount For 2021/2022 Audit	
INSURANCE	5,789	6,400	6,400	Insurance Estimate	
LEGAL ADVERTISING	1,434	1,500	1,500	No Change From 2021/2022 Budget	
MISCELLANEOUS	1,024	1,100	1,100	No Change From 2021/2022 Budget	
POSTAGE	307	300	300	No Change From 2021/2022 Budget	
OFFICE SUPPLIES	631	600	600	No Change From 2021/2022 Budget	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2021/2022 Budget	
TRUSTEE FEES	4,500	4,500	4,500	No Change From 2021/2022 Budget	
CONTINUING DISCLOSURE FEE	350	350	350	No Change From 2021/2022 Budget	
WEBSITE MANAGEMENT	2,000	2,000	2,000	No Change From 2021/2022 Budget	
CONTINGENCY/FOUNTAINS	9,994	35,000	33,400	Contingency	
					
TOTAL EXPENDITURES	$	126,665	$	161,318	$	161,262		
					
REVENUES LESS EXPENDITURES	$	338,490	$	324,376	$	324,373		
					
BOND PAYMENTS	(318,120)	(295,242)	(295,242)	2023 P & I Payments Less Earned Interest	
					
BALANCE	$	20,370	$	29,134	$	29,131		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(3,010)	(9,711)	(9,710)	Two Percent Of Total Assessment Roll	
DISCOUNT FOR EARLY PAYMENTS	(17,248)	(19,423)	(19,421)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	112	$	-	$	-		
					
CARRYOVER FROM PRIOR YEAR	0	0	0	Carryover From Prior Year	
					
NET EXCESS / (SHORTFALL)	$	112	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND BUDGET TERRACINA 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	
29	
25	
25	
Projected Interest For 2022/2023	

NAV Tax Collection	
318,120	
295,242	
295,242	
Maximum Debt Service Collection	

Total Revenues	
$	318,149	
$	295,267	
$	295,267		

EXPENDITURES					

Principal Payments	
175,000	
230,000	
236,000	
Principal Payment Due In 2023	

Interest Payments	
106,675	
64,414	
58,938	
Interest Payments Due In 2023	

Bond Redemption	
35,000	
853	
329	
Estimated Excess Debt Collections	

Total Expenditures	
$	316,675	
$	295,267	
$	295,267		

Excess/ (Shortfall)	
$	1,474	
$	-	
$	-		

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 1/1/22 =	May 2032

$2,856,000			

Terracina Community Development District Assessment Comparison

Fiscal Year 2018/2019
Assessment*	Fiscal Year 2019/2020
Assessment*	Fiscal Year 2020/2021
Assessment*	Fiscal Year 2021/2022
Assessment*	Fiscal Year 2022/2023
Projected Assessment*	

O & M		

$	274.79		

$	281.04		

$	285.95		

$	372.80		
$	
372.67	
Debt		$	740.46		$	733.14		$	727.99		$	684.29		$	684.29	
Total		$	1,015.25		$	1,014.18		$	1,013.94		$	1,057.09		$	1,056.96	

* 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:	

7/27/2022 7:34 AM	IV