Silver Palms Community Development District

Amended Final Budget For Fiscal Year 2024/2025
October 1, 2024 - September 30, 2025

CONTENTS

I

AMENDED FINAL OPERATING FUND BUDGET

II

AMENDED FINAL DEBT SERVICE FUND BUDGET

AMENDED FINAL BUDGET
SILVER PALMS COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

Notes
Carryover from prior year of $2,000.was used to reduce Fiscal Year 2024/2025 Assessments.
$3,375 of Fund Balance to be used to reduce 2025/2026 Assessments.

I

$225,156

($24,542)

$200,614

FUND BALANCE AS OF 9/30/24

FY 2024/2025 ACTIVITY

FUND BALANCE AS OF 9/30/25

REVENUES

FISCAL YEAR 2024/2025 BUDGET 10/1/24 - 9/30/25

AMENDED FINAL BUDGET
10/1/24 - 9/30/25

YEAR TO DATE ACTUAL
10/1/24 - 9/29/25

Administrative Assessments

63,309

63,802

63,802

Maintenance Assessments

42,771

42,773

42,773

Debt Assessments

193,202

193,203

193,203

Interest Income

600

9,200

9,123

TOTAL REVENUES

$	299,882

$	308,978

$	308,901

EXPENDITURES

ADMINISTRATIVE EXPENDITURES

Supervisor Fees

5,000

2,400

2,400

Payroll Taxes (Employer)

420

184

184

Management

20,916

20,916

20,916

Secretarial

2,700

2,700

2,700

Legal

9,000

8,000

6,698

Assessment Roll

3,500

3,500

3,500

Audit Fees

3,500

3,500

3,500

Insurance

7,200

6,858

6,858

Legal Advertisements

2,000

3,200

2,084

Miscellaneous

900

750

500

Postage

250

140

129

Office Supplies

450

175

236

Dues & Subscriptions

175

175

175

Trustee Fee

4,100

4,246

4,246

Continuing Disclosure Fee

250

250

250

Website Management

1,750

1,750

1,750

TOTAL ADMINISTRATIVE EXPENDITURES

$	62,111

$	58,744

$	56,126

MAINTENANCE EXPENDITURES

Lawn Maintenance/Landscaping

27,000

27,000

25,209

Aquatic Maintenance

2,000

2,000

2,000

Maintenance/District Improvements

4,205

2,000

0

Engineering/Inspections

3,000

1,505

1,505

Engineering-Shoreline Control & Restoration Project

0

10,000

7,784

Shoreline Control & Restoration Project

0

30,000

25,005

Contingency/Reserve

4,000

4,000

0

TOTAL MAINTENANCE EXPENDITURES

$	40,205

$	76,505

$	61,503

TOTAL EXPENDITURES

$	102,316

$	135,249

$	117,629

REVENUES LESS EXPENDITURES

$	197,566

$	173,729

$	191,272

Bond Payments

(181,610)

(183,976)

(183,976)

BALANCE

$	15,956

$	(10,247)

$	7,296

County Appraiser & Tax Collector Fee

(5,985)

(2,880)

(2,880)

Discounts For Early Payments

(11,971)

(11,415)

(11,415)

EXCESS/ (SHORTFALL)

$	(2,000)

$	(24,542)

$	(6,999)

Carryover From Prior Year

2,000

2,000

0

NET EXCESS/ (SHORTFALL)

$	-

$	(22,542)

$	(6,999)

AMENDED FINAL BUDGET
SILVER PALMS COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

Notes
Revenue Fund Balance = $67,712*.
Revenue Fund Balance To Be Used To Make 11/1/2025 Interest Payment Of $31,516. Construction Fund Balance As Of 9/30/25 = $531,037*
* Approximate Amounts

Series 2023 Bond Refunding Information
Original Par Amount =

$1,552,000 4.75%
June 2023
May 2034

Annual Principal Payments Due: May 1st
Annual Interest Payments Due: May 1st & November 1st

Interest Rate = Issue Date = Maturity Date =

Par Amount As Of 9/30/25=

$1,327,000

II

$63,831

$3,881

$67,712

FUND BALANCE AS OF 9/30/24

FY 2024/2025 ACTIVITY

FUND BALANCE AS OF 9/30/25

REVENUES

FISCAL YEAR 2024/2025 BUDGET 10/1/24 - 9/30/25

AMENDED FINAL BUDGET
10/1/24 - 9/30/25

YEAR TO DATE ACTUAL
10/1/24 - 9/29/25

Interest Income

400

3,400

3,332

Miscellaneous Revenue

0

0

0

NAV Tax Collection

181,610

183,976

183,976

Total Revenues

$	182,010

$	187,376

$	187,308

EXPENDITURES

Principal Payments (2023)

115,000

115,000

115,000

Interest Payments (2023)

65,764

68,495

68,495

Bond Redemption

1,246

0

0

Total Expenditures

$	182,010

$	183,495

$	183,495

Excess/ (Shortfall)

$	-

$	3,881

$	3,813