Cypress Park Estates
Community Development District

Adopted Budget
FY2022

Table of Contents

1-2	General Fund	

3-7	

General Fund Narrative	

8	

Debt Service Fun Series 2020A1	

9	

Amortization Schedule Series 2020A1	

10	

Debt Service Fund Series 2020A2	

11	

Amortization Schedule Series 2020A2	

		Adopted
Budget	Actuals
Thru	Projected
Next	Projected
Thru	Adopted
Budget	
	Description	FY2020	6/30/21	3 Months	9/30/21	FY2022	

Revenues							
Assessments - On Roll	$0	$0	$0	$0	$	265,500	
Developer Contributions	$183,686	$55,285  $	33,572	$88,857	$	58,945	
Total Revenues	$	183,686  $	55,285  $	33,572	$	88,857	$	324,445	

Expenditures						
Administrative
Supervisor Fees	

$10,000	

$1,400	

$2,000	

$3,400	

$10,000	
Engineer Fees	$15,000	$0	$3,750	$3,750	$10,000	
Attorney Fees	$25,000	$9,517	$2,379	$11,896	$25,000	
Annual Audit	$0	$2,800	$0	$2,800	$4,500	
Assessment Adminstration	$0	$0	$5,000	$5,000	$5,000	
Dissemination	$0	$2,500	$1,250	$3,750	$6,000	
Arbitrage	$0	$0	$500	$500	$1,000	
Trustee Fees	$0	$0	$5,000	$5,000	$5,000	
Management Fees	$35,000	$26,250	$8,750	$35,000	$36,050	
Information Technology	$2,650	$900	$300	$1,200	$1,800	
Website Maintenance	$0	$0	$0	$0	$1,200	
Telephone	$250	$20	$63	$83	$150	
Postage & Delivery	$500	$93	$125	$218	$500	
Insurance	$5,000	$5,000	$0	$5,000	$5,500	
Printing & Binding	$500	$16	$125	$141	$350	
Legal Advertising	$10,000	$1,243	$3,800	$5,043	$10,000	
Other Current Charges	$1,500	$1,048	$262	$1,311	$2,000	
Office Supplies	$521	$13	$130	$143	$350	
Travel Per Diem	$550	$0	$138	$138	$550	
Dues, Licenses & Subscriptions	$175	$175	$0	$175	$175	

Total Administrative	$	106,646	$	50,976	$	33,572	$	84,548	$	125,125	

Adopted
Budget	Actuals
Thru	Projected
Next	Projected
Thru	Adopted
Budget	
Description	FY2020	6/30/21	3 Months	9/30/21	FY2022	
Operations & Maintenance
Field Services						
Property Insurance	$5,000	$0	$0	$0	$5,000	
Field Management	$15,000	$0	$0	$0	$15,000	
Landscape Maintenance	$26,880	$0	$0	$0	$40,000	
Landscape Replacement	$2,500	$0	$0	$0	$5,000	
Lake Maintenance	$0	$0	$0	$0	$10,000	
Streetlights	$12,600	$0	$0	$0	$12,600	
Electric	$2,000	$0	$0	$0	$5,000	
Water & Sewer	$1,000	$0	$0	$0	$5,000	
Sidewalk & Asphalt Maintenance	$500	$0	$0	$0	$500	
Irrigation Repairs	$2,500	$0	$0	$0	$2,500	
General Repairs & Maintenance	$5,000	$0	$0	$0	$5,000	
Contingency	$2,500	$0	$0	$0	$5,000	

Subtotal Field Expenses	$	75,480  $	-	$	-	$	-	$	110,600

Amenity Expenses		
Amenity - Electric	$0	$0	$0	$0	$14,400	
Amenity - Water	$0	$0	$0	$0	$5,000	
Playground Lease	$0	$0	$0	$0	$14,000	
Internet	$0	$0	$0	$0	$3,000	
Pest Control	$0	$0	$0	$0	$720	
Janitorial Service	$0	$0	$0	$0	$5,400	
Security Services	$0	$0	$0	$0	$15,000	
Pool Maintenance	$0	$0	$0	$0	$16,200	
Amenity Repairs & Maintenance	$0	$0	$0	$0	$5,000	
Contingency	$0	$0	$0	$0	$5,000	

Subtotal Amenity Expenses	$	-	$	-	$	-	$	-	$	83,720

Total Operations & Maintenance	$	75,480  $	-	$	-	$	-	$	194,320

Other Expenses		
Capital Reserves	$0	$0	$0	$0	$5,000	
Total Other Expenses	$	-	$	-	$	-	$	-	$	5,000	
						
Total Expenditures	$	182,126	$	50,976	$	33,572	$	84,548	$	324,445	
						
Excess Revenues/(Expenditures)	$	1,560	$	4,310	$	-	$	4,310	$	-	

Net Assessments	
$	265,500	
Add: Discounts & Collections 7%	$19,984	
Gross Assessments	$285,484	

Product	ERU's	Assessable Units	ERU/Unit	Net Assessment	Net Per Unit	Gross Per Unit	
Platted	354.00	354.00	1.00	$265,500.00	$750.00	$806.45	

GENERAL FUND BUDGET

REVENUES:

Special Assessments

The District will levy a non-ad valorem assessment on all the assessable property within the District in order to pay for operating expenditures during the fiscal year.

Developer Contributions

The District will enter into a Funding Agreement with the Developer to fund the General Fund expenditures for the Fiscal Year.

EXPENDITURES:

Administrative:

Supervisor Fees

Chapter 190, Florida Statutes, allows for each Board member to receive $200 per meeting, not to exceed $4,800 per year paid to each Supervisor for the time devoted to District business and meetings.

Engineer Fees

The District's engineer will be providing general engineering services to the District, e.g. attendance and preparation for monthly board meetings, review invoices and various projects as directed by the Board of Supervisors and the District Manager.

Attorney Fees

The District's legal counsel will be providing general legal services to the District, e.g. attendance and preparation for meetings, preparation and review of agreements, resolutions, etc. as directed by the Board of Supervisors and the District Manager.

Annual Audit

The District is required by Florida Statutes to arrange for an independent audit of its financial records on an annual basis.

Assessment Administration

The District will contract to levy and administer the collection of non-ad valorem assessment on all assessable property within the District.

Dissemination

The District is required by the Security and Exchange Commission to comply with Rule 15c2-12(b)(5) which relates to additional reporting requirements for unrated bond issues. This cost is based upon the Series 2020 bonds as well as one other anticipated bond issuance.

Arbitrage

The District will contract with an independent certified public accountant to annually calculate the District’s Arbitrage Rebate Liability on its Series 2020 bonds as well as one other anticipated bond issuance.
Trustee Fees

The District will incur trustee related costs with the issuance of its’ issued bonds.

Management Fees

The District will incur costs for Management, Accounting and Administrative services during the Fiscal Year.

Information Technology

Represents costs related to the District’s information systems, which include but are not limited to video conferencing services, cloud storage services and servers, security, accounting software, etc.

Website Maintenance

Represents the costs associated with monitoring and maintaining the District’s website created in accordance with Chapter 189, Florida Statutes. These services include site performance assessments, security and firewall maintenance, updates, document uploads, hosting and domain renewals, website backups, etc.

Telephone

Telephone and fax machine.

Postage

The District incurs charges for mailing of Board meeting agenda packages, overnight deliveries, correspondence, etc.

Insurance

The District’s general liability, public official’s liability insurance and property insurance coverages.

Printing & Binding

Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc.

Legal Advertising

The District is required to advertise various notices for monthly Board meetings, public hearings, etc. in a newspaper of general circulation.

Other Current Charges

Bank charges and any other miscellaneous expenses incurred during the year.

Office Supplies

Any supplies that may need to be purchased during the fiscal year, e.g., paper, minute books, file folders, labels, paper clips, etc.
Travel Per Diem

The Board of Supervisors can be reimbursed for travel expenditures related to the conducting of District business.

Dues, Licenses & Subscriptions

The District is required to pay an annual fee to the Florida Department of Economic Opportunity for $175. This is the only expense under this category for the District.

Operations & Maintenance:

Field Services

Property Insurance

The District’s property insurance coverages.

Field Management

Represents the estimated costs of contracting services that provide onsite field management of contracts for the District such as landscape and lake maintenance. Services can include onsite inspections, meetings with contractors, monitoring of utility accounts, attend Board meetings and receive and respond to property owner phone calls and emails.

Landscape Maintenance

Represents the estimated maintenance of the landscaping within the common areas of the District after the installation of landscape material has been completed.

Landscape Replacement

Represents the estimated cost of replacing landscaping within the common areas of the District.

Lake Maintenance

Represents the estimated maintenance of the lake within the District’s boundaries.

Streetlights

Represents the cost to maintain street lights within the District Boundaries that are expected to be in place throughout the fiscal year.

Electric

Water & Sewer

Represents current and estimated costs for water and refuse services provided for common areas throughout the District.

Sidewalk & Asphalt Maintenance

Represents the estimated costs of maintaining the sidewalks and asphalt throughout the District’s Boundary.

Irrigation Repairs

Represents the cost of maintaining and repairing the irrigation system. This includes the sprinklers, and irrigation wells.

General Repairs & Maintenance

Represents estimated costs for general repairs and maintenance of the District’s common areas.

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any field category.

Amenity Expenses

Amenity - Electric

Represents estimated electric charges for the District’s amenity facilities.

Amenity – Water

Represents estimated water charges for the District’s amenity facilities.

Playground Lease

The District has entered into a leasing agreement for playgrounds and pool furniture installed in the community.

Internet

Internet service will be added for use at the Amenity Center.

Pest Control

The District will incur costs for pest control treatments to its amenity facilities.

Janitorial Services

Represents the costs to provide janitorial services 3 times a week and supplies for the District’s amenity facilities.

Security Services

Represents the estimated cost of contracting a monthly security service for the District’s amenity facilities.

Pool Maintenance

Represents the costs of regular cleaning and treatments of the District’s pool.

Amenity Repairs & Maintenance

Represents estimated costs for repairs and maintenance of the District’s amenity facilities.

Contingency

Represents funds allocated to expenses that the District could incur throughout the fiscal year that do not fit into any amenity category.

Other Expenses:

Capital Reserves

Funds collected and reserved for the replacement of and/or purchase of new capital improvements throughout the District.

Cypress Park Estates
Community Development District

Adopted Budget Debt Service Fund Series 2020 A-1

		Adopted
Budget	Actuals
Thru	Projected
Next	Projected
Thru	Adopted
Budget	
	Description	FY2021	6/30/21	3 Months	9/30/21	FY2022	

Revenues							
Special Assessments - 2020 A1	$	-	$	-	$	-	$	-	$	442,500	
Interest Income	$	-	$	17	$	6	$	23	$	-	
Carry Forward Surplus	$	-	$	-	$	-	$	-	$	146,830	
Total Revenues	$	-	$	17	$	6	$	23	$	589,330	

Expenses					
Series 2020A-1					
Interest - 11/1	$	-	$	-	$	-	$	-	$	146,353	
Interest - 5/1	$	137,409	$	137,409	$	-	$	137,409	$	146,353	
Principal - 5/1	$	-	$	-	$	-	$	-	$	150,000	
Total Expenditures	$	137,409	$	137,409	$	-	$	137,409	$	442,706	

Other Financing Sources/(Uses)					
Bond Proceeds	$	726,262	$	726,262	$	-	$	726,262	$	-	
Transfer In (Out)	$	-	$	454	$	-	$	454	$	-	
Total Other Financing Sources/(Uses)	$	726,262	$	726,717	$	-	$	726,717	$	-	
						
Excess Revenues/(Expenditures)	$	588,853	$	589,324	$	6	$	589,330	$	146,624	

*Carry forward less amount in Reserve funds.						
Series 2020 A-1
Principal - 11/1/22	$144,384
Total	$144,384

DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL

05/01/21	$	7,770,000.00	$	-	$	137,409.32		
11/01/21	$	7,770,000.00	$	-	$	146,353.13	$	283,762.45	
05/01/22	$	7,770,000.00	$	150,000.00   $	146,353.13	$	-	
11/01/22	$	7,620,000.00	$	-	$	144,384.38	$	440,737.50	
05/01/23	$	7,620,000.00	$	155,000.00   $	144,384.38	$	-	
11/01/23	$	7,465,000.00	$	-	$	142,350.00	$	441,734.38	
05/01/24	$	7,465,000.00	$	155,000.00   $	142,350.00	$	-	
11/01/24	$	7,310,000.00	$	-	$	140,315.63	$	437,665.63	
05/01/25	$	7,310,000.00	$	160,000.00   $	140,315.63	$	-	
11/01/25	$	7,150,000.00	$	-	$	138,215.63	$	438,531.25	
05/01/26	$	7,150,000.00	$	165,000.00   $	138,215.63	$	-	
11/01/26	$	6,985,000.00	$	-	$	135,534.38	$	438,750.00	
05/01/27	$	6,985,000.00	$	170,000.00   $	135,534.38	$	-	
11/01/27	$	6,815,000.00	$	-	$	132,771.88	$	438,306.25	
05/01/28	$	6,815,000.00	$	175,000.00   $	132,771.88	$	-	
11/01/28	$	6,640,000.00	$	-	$	129,928.13	$	437,700.00	
05/01/29	$	6,640,000.00	$	185,000.00   $	129,928.13	$	-	
11/01/29	$	6,455,000.00	$	-	$	126,921.88	$	441,850.00	
05/01/30	$	6,455,000.00	$	190,000.00   $	126,921.88	$	-	
11/01/30	$	6,265,000.00	$	-	$	123,834.38	$	440,756.25	
05/01/31	$	6,265,000.00	$	195,000.00   $	123,834.38	$	-	
11/01/31	$	6,070,000.00	$	-	$	120,056.25	$	438,890.63	
05/01/32	$	6,070,000.00	$	205,000.00   $	120,056.25	$	-	
11/01/32	$	5,865,000.00	$	-	$	116,084.38	$	441,140.63	
05/01/33	$	5,865,000.00	$	210,000.00   $	116,084.38	$	-	
11/01/33	$	5,655,000.00	$	-	$	112,015.63	$	438,100.00	
05/01/34	$	5,655,000.00	$	220,000.00   $	112,015.63	$	-	
11/01/34	$	5,435,000.00	$	-	$	107,753.13	$	439,768.75	
05/01/35	$	5,435,000.00	$	230,000.00   $	107,753.13	$	-	
11/01/35	$	5,205,000.00	$	-	$	103,296.88	$	441,050.00	
05/01/36	$	5,205,000.00	$	240,000.00   $	103,296.88	$	-	
11/01/36	$	4,965,000.00	$	-	$	98,646.88	$	441,943.75	
05/01/37	$	4,965,000.00	$	245,000.00   $	98,646.88	$	-	
11/01/37	$	4,720,000.00	$	-	$	93,900.00	$	437,546.88	
05/01/38	$	4,720,000.00	$	255,000.00   $	93,900.00	$	-	
11/01/38	$	4,465,000.00	$	-	$	88,959.38	$	437,859.38	
05/01/39	$	4,465,000.00	$	265,000.00   $	88,959.38	$	-	
11/01/39	$	4,200,000.00	$	-	$	83,825.00	$	437,784.38	

DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL

05/01/40	$	4,200,000.00	$	280,000.00   $	83,825.00	$	-	
11/01/40	$	3,920,000.00	$	-	$	78,400.00	$	442,225.00	
05/01/41	$	3,920,000.00	$	290,000.00   $	78,400.00	$	-	
11/01/41	$	3,630,000.00	$	-	$	72,600.00	$	441,000.00	
05/01/42	$	3,630,000.00	$	300,000.00   $	72,600.00	$	-	
11/01/42	$	3,330,000.00	$	-	$	66,600.00	$	439,200.00	
05/01/43	$	3,330,000.00	$	315,000.00   $	66,600.00	$	-	
11/01/43	$	3,015,000.00	$	-	$	60,300.00	$	441,900.00	
05/01/44	$	3,015,000.00	$	325,000.00   $	60,300.00	$	-	
11/01/44	$	2,690,000.00	$	-	$	53,800.00	$	439,100.00	
05/01/45	$	2,690,000.00	$	340,000.00   $	53,800.00	$	-	
11/01/45	$	2,350,000.00	$	-	$	47,000.00	$	440,800.00	
05/01/46	$	2,350,000.00	$	355,000.00   $	47,000.00	$	-	
11/01/46	$	1,995,000.00	$	-	$	39,900.00	$	441,900.00	
05/01/47	$	1,995,000.00	$	365,000.00   $	39,900.00	$	-	
11/01/47	$	1,630,000.00	$	-	$	32,600.00	$	437,500.00	
05/01/48	$	1,630,000.00	$	385,000.00   $	32,600.00	$	-	
11/01/48	$	1,245,000.00	$	-	$	24,900.00	$	442,500.00	
05/01/49	$	1,245,000.00	$	400,000.00   $	24,900.00	$	-	
11/01/49	$	845,000.00	$	-	$	16,900.00	$	441,800.00	
05/01/50	$	845,000.00	$	415,000.00   $	16,900.00	$	-	
11/1/50	$	430,000.00	$	-	$	8,600.00	$	440,500.00	
5/1/51	$	430,000.00	$	430,000.00   $	8,600.00	$	438,600.00	

$	7,770,000.00 $	5,710,903.19 $	13,480,903.1

9

Cypress Park Estates
Community Development District

Adopted Budget Debt Service Fund Series 2020 A-2

	Adopted	Actuals
Budget	Thru	Projected
Next	Projected
Thru	Adopted
Budget	
Description	FY2021	6/30/21	3 Months	9/30/21	FY2022	

Revenues					
Special Assessments - 2020 A2	$	-	$	-	$	-	$	-	$	71,156	
Interest Income	$	-	$	10	$	3	$	14	$	-	
Carry Forward Surplus	$	-	$	-	$	-	$	-	$	24,092	
Total Revenues	$	-	$	10	$	3	$	14	$	95,248	

Expenses					
Series 2018A-2					
Interest- 11/1	$	-	$	-		$	-	$	24,078	
Interest - 5/1	$	22,607	$	22,607	$	-	$	22,607	$	24,078	
Principal - 5/1	$	-	$	-	$	-	$	-	$	20,000	
Total Expenditures	$	22,607  $	22,607	$	-	$	22,607	$	68,156	

Other Financing Sources/(Uses)					
Bond Proceeds	$	117,841	$	117,841	$	-	$	117,841	$	-	
Total Other Financing Sources/(Uses)	$	117,841  $	117,841	$	-	$	117,841	$	-	
					
Excess Revenues/(Expenditures)	$	95,234	$	95,245	$	3	$	95,248	$	27,092	

*Carry forward less amount in Reserve funds.					
			Series 2020 A-2		
			Interest - 11/1/22	$23,678	
			Total	$23,678	

DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL

05/01/21	$	1,185,000.00	$	-	$	22,606.68		
11/01/21	$	1,185,000.00	$	-	$	24,078.13	$	46,684.81	
05/01/22	$	1,185,000.00	$	20,000.00   $	24,078.13	$	-	
11/01/22	$	1,165,000.00	$	-	$	23,678.13	$	67,756.25	
05/01/23	$	1,165,000.00	$	20,000.00   $	23,678.13	$	-	
11/01/23	$	1,145,000.00	$	-	$	23,278.13	$	66,956.25	
05/01/24	$	1,145,000.00	$	20,000.00   $	23,278.13	$	-	
11/01/24	$	1,125,000.00	$	-	$	22,878.13	$	66,156.25	
05/01/25	$	1,125,000.00	$	25,000.00   $	22,878.13	$	-	
11/01/25	$	1,100,000.00	$	-	$	22,378.13	$	70,256.25	
05/01/26	$	1,100,000.00	$	25,000.00   $	22,378.13	$	-	
11/01/26	$	1,075,000.00	$	-	$	21,878.13	$	69,256.25	
05/01/27	$	1,075,000.00	$	25,000.00   $	21,878.13	$	-	
11/01/27	$	1,050,000.00	$	-	$	21,378.13	$	68,256.25	
05/01/28	$	1,050,000.00	$	25,000.00   $	21,378.13	$	-	
11/01/28	$	1,025,000.00	$	-	$	20,878.13	$	67,256.25	
05/01/29	$	1,025,000.00	$	30,000.00   $	20,878.13	$	-	
11/01/29	$	995,000.00	$	-	$	20,278.13	$	71,156.25	
05/01/30	$	995,000.00	$	30,000.00   $	20,278.13	$	-	
11/01/30	$	965,000.00	$	-	$	19,678.13	$	69,956.25	
05/01/31	$	965,000.00	$	30,000.00   $	19,678.13	$	-	
11/01/31	$	935,000.00	$	-	$	19,078.13	$	68,756.25	
05/01/32	$	935,000.00	$	30,000.00   $	19,078.13	$	-	
11/01/32	$	905,000.00	$	-	$	18,478.13	$	67,556.25	
05/01/33	$	905,000.00	$	30,000.00   $	18,478.13	$	-	
11/01/33	$	875,000.00	$	-	$	17,878.13	$	66,356.25	
05/01/34	$	875,000.00	$	35,000.00   $	17,878.13	$	-	
11/01/34	$	840,000.00	$	-	$	17,178.13	$	70,056.25	
05/01/35	$	840,000.00	$	35,000.00   $	17,178.13	$	-	
11/01/35	$	805,000.00	$	-	$	16,478.13	$	68,656.25	
05/01/36	$	805,000.00	$	35,000.00   $	16,478.13	$	-	
11/01/36	$	770,000.00	$	-	$	15,778.13	$	67,256.25	
05/01/37	$	770,000.00	$	40,000.00   $	15,778.13	$	-	
11/01/37	$	730,000.00	$	-	$	14,978.13	$	70,756.25	
05/01/38	$	730,000.00	$	40,000.00   $	14,978.13	$	-	
11/01/38	$	690,000.00	$	-	$	14,178.13	$	69,156.25	
05/01/39	$	690,000.00	$	40,000.00   $	14,178.13	$	-	

DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL

11/01/39	$	650,000.00	$	-	$	13,378.13	$	67,556.25	
05/01/40	$	650,000.00	$	45,000.00   $	13,378.13	$	-	
11/01/40	$	605,000.00	$	-	$	12,478.13	$	70,856.25	
05/01/41	$	605,000.00	$	45,000.00   $	12,478.13	$	-	
11/01/41	$	560,000.00	$	-	$	11,550.00	$	69,028.13	
05/01/42	$	560,000.00	$	45,000.00   $	11,550.00	$	-	
11/01/42	$	515,000.00	$	-	$	10,621.88	$	67,171.88	
05/01/43	$	515,000.00	$	50,000.00   $	10,621.88	$	-	
11/01/43	$	465,000.00	$	-	$	9,590.63	$	70,212.50	
05/01/44	$	465,000.00	$	50,000.00   $	9,590.63	$	-	
11/01/44	$	415,000.00	$	-	$	8,559.38	$	68,150.00	
05/01/45	$	415,000.00	$	55,000.00   $	8,559.38	$	-	
11/01/45	$	360,000.00	$	-	$	7,425.00	$	70,984.38	
05/01/46	$	360,000.00	$	55,000.00   $	7,425.00	$	-	
11/01/46	$	305,000.00	$	-	$	6,290.63	$	68,715.63	
05/01/47	$	305,000.00	$	55,000.00   $	6,290.63	$	-	
11/01/47	$	250,000.00	$	-	$	5,156.25	$	66,446.88	
05/01/48	$	250,000.00	$	60,000.00   $	5,156.25	$	-	
11/01/48	$	190,000.00	$	-	$	3,918.75	$	69,075.00	
05/01/49	$	190,000.00	$	60,000.00   $	3,918.75	$	-	
11/01/49	$	130,000.00	$	-	$	2,681.25	$	66,600.00	
05/01/50	$	130,000.00	$	65,000.00   $	2,681.25	$	-	
11/1/50	$	65,000.00	$	-	$	1,340.63	$	69,021.88	
5/1/51	$	65,000.00	$	65,000.00   $	1,340.63	$	66,340.63	

$	1,185,000.00 $	917,400.55 $	2,102,400.55