Silver Palms Community Development District

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

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
SILVER PALMS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2021/2022 BUDGET	
Administrative Assessments	61,664	
Maintenance Assessments	38,646	
Debt Assessments	122,447	
Interest Income	180	
		
TOTAL REVENUES	$	222,937	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
Lawn Maintenance/Landscaping	22,000	
Aquatic Maintenance	2,000	
Maintenance/District Improvements	4,205	
Engineering/Inspections	1,900	
Contingency/Reserve	6,223	
TOTAL MAINTENANCE EXPENDITURES	36,328	
		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	6,000	
Payroll Taxes (Employer)	480	
Management	19,164	
Secretarial	2,700	
Legal	8,000	
Assessment Roll	3,500	
Audit Fees	3,700	
Insurance	6,000	
Legal Advertisements	550	
Miscellaneous	1,000	
Postage	250	
Office Supplies	525	
Dues & Subscriptions	175	
Trustee Fee	4,100	
Continuing Disclosure Fee	250	
Website Management	1,750	
TOTAL ADMINISTRATIVE EXPENDITURES	$	58,144	
		
TOTAL EXPENDITURES	$	94,472	
		
REVENUES LESS EXPENDITURES	$	128,465	
		
Bond Payments	(115,100)	
		
BALANCE	$	13,365	
		
County Appraiser & Tax Collector Fee	(4,455)	
Discounts For Early Payments	(8,910)	
		
Excess/ (Shortfall)	$	-	
		
Carryover Funds From Prior Year	0	
		
Net Excess/ (Shortfall)	$	-	

5/7/2021 7:30 AM	I

DETAILED FINAL BUDGET
SILVER PALMS 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	
Administrative Assessments	61,613	61,436	61,664	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	39,028	38,874	38,646	Expenditures /.94	
Debt Assessments	122,447	122,447	122,447	Bond Payments/.94	
Interest Income	207	180	180	Estimated At $15.00 Per Month	
					
TOTAL REVENUES	$	223,295	$	222,937	$	222,937		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
Lawn Maintenance/Landscaping	21,405	22,000	22,000	No Change From 2020/2021 Budget	
Aquatic Maintenance	2,000	2,000	2,000	No Change From 2020/2021 Budget	
Maintenance/District Improvements	0	4,205	4,205	No Change From 2020/2021 Budget	
Engineering/Inspections	975	1,900	1,900	No Change From 2020/2021 Budget	
Contingency/Reserve	0	6,437	6,223	$214 Decrease From 2020/2021 Budget	
TOTAL MAINTENANCE EXPENDITURES	24,380	36,542	36,328		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	3,200	6,000	6,000	No Change From 2020/2021 Budget	
Payroll Taxes (Employer)	245	480	480	Projected At 8% Of Supervisor Fees	
Management	18,480	18,900	19,164	CPI Adjustment	
Secretarial	2,700	2,700	2,700	No Change From 2020/2021 Budget	
Legal	5,340	8,000	8,000	No Change From 2020/2021 Budget	
Assessment Roll	3,500	3,500	3,500	As Per Contract	
Audit Fees	3,500	3,600	3,700	Accepted Amount For 2020/2021 Audit	
Insurance	5,251	6,000	6,000	Insurance Estimate	
Legal Advertisements	895	550	550	No Change From 2020/2021 Budget	
Miscellaneous	393	1,100	1,000	$100 Decrease From 2020/2021 Budget	
Postage	101	275	250	$25 Decrease From 2020/2021 Budget	
Office Supplies	181	550	525	$25 Decrease From 2020/2021 Budget	
Dues & Subscriptions	175	175	175	No Change From 2020/2021 Budget	
Trustee Fee	4,080	4,100	4,100	No Change From 2020/2021 Budget	
Continuing Disclosure Fee	250	250	250	No Change From 2020/2021 Budget	
Website Management	1,750	1,750	1,750	No Change From 2020/2021 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	50,041	$	57,930	$	58,144		
					
TOTAL EXPENDITURES	$	74,421	$	94,472	$	94,472		
					
REVENUES LESS EXPENDITURES	$	148,874	$	128,465	$	128,465		
					
Bond Payments	(116,702)	(115,100)	(115,100)	2022 P & I Payments Less Earned Interest	
					
BALANCE	$	32,172	$	13,365	$	13,365		
					
County Appraiser & Tax Collector Fee	(2,147)	(4,455)	(4,455)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(8,308)	(8,910)	(8,910)	Four Percent Of Total Assessment Roll	
					
Excess/ (Shortfall)	$	21,717	$	-	$	-		
					
Carryover Funds From Prior Year	0	0	0	Carryover Funds From Prior Year	
					
Net Excess/ (Shortfall)	$	21,717	$	-	$	-		

5/7/2021 7:30 AM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET SILVER PALMS 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	
93	
50	
25	
Projected Interest For 2021/2022	

NAV Tax Collection	
116,702	
115,100	
115,100	
Maximum Debt Service Collection	

Total Revenues	
$	116,795	
$	115,150	
$	115,125		

EXPENDITURES					

Principal Payments	
70,000	
75,000	
75,000	
Principal Payment Due In 2022	

Interest Payments	
42,250	
38,756	
36,319	
Interest Payments Due In 2022	

Bond Redemption	
0	
1,394	
3,806	
Estimated Excess Debt Collections	

Total Expenditures	
$	112,250	
$	115,150	
$	115,125		

Excess/ (Shortfall)	
$	4,545	
$	-	
$	-		

Series 2014 Bond Refunding Information		
Original Par Amount =	$1,660,000	Annual Principal Payments Due:	May 1st	
Interest Rate =	3.25% - 8.25%	May 1st	May 1st & November 1st	
Issue Date =	April 2014	Annual Interest Payments Due:		
Maturity Date =	May 2034	May 1st & November 1st		

Par Amount As Of 1/1/21 =	
$1,230,000			

5/7/2021  7:30 AM	III

Silver Palms Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2018/2019	2019/2020	2020/2021	2021/2022	
Assessment	Assessment	Assessment	Projected Assessment	
Before Discount*	Before Discount*	Before Discount*	Before Discount*	

Administrative	
$	305.18	
$	304.89	
$	305.65	
$	
306.79	
Maintenance	$	193.88	$	194.17	$	193.41	$	192.27	

Debt

$	609.19

$	609.19

$	609.19

$	609.19

Total

$	1,108.25	$

1,108.25	$

1,108.25	$

1,108.25

* Assessments Include the Following :	                            4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee
Community Information:		                                                Total Units	201

5/7/2021 7:30 AM	IV