Blue Lake Community Development District

Proposed Budget For Fiscal Year 2020/2021
October 30, 2020 - September 30, 2021

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

PROPOSED BUDGET
BLUE LAKE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 30, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2020/2021
BUDGET	
O&M Assessments	142,826	
Developer Contribution - O&M	0	
Developer Contribution - Debt	0	
Debt Assessments	663,697	
Interest Income	60	
		
TOTAL REVENUES	$	806,583	
		
EXPENDITURES		
Supervisor Fees	0	
Engineering/Inspections	15,000	
Management	27,612	
Legal	19,000	
Assessment Roll	4,000	
Audit Fees	3,700	
Arbitrage Rebate Fee	650	
Insurance	5,900	
Legal Advertisements	4,000	
Miscellaneous	1,000	
Postage	300	
Office Supplies	1,500	
Dues & Subscriptions	175	
Trustee Fees	4,000	
Continuing Disclosure Fee	1,000	
Mitigation Monitoring	31,480	
Lake Maintenance	10,000	
Flow Way Inspection/Certification	5,000	
TOTAL EXPENDITURES	$	134,317	
		
REVENUES LESS EXPENDITURES	$	672,266	
		
Bond Payments	(623,875)	
		
BALANCE	$	48,391	
		
County Appraiser & Tax Collector Fee	(16,130)	
Discounts For Early Payments	(32,261)	
		
EXCESS/ (SHORTFALL)	$	-	

4/20/2020 11:41 AM	I

DETAILED PROPOSED BUDGET
BLUE LAKE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 30, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2018/2019 ACTUAL	
FISCAL YEAR 2019/2020 BUDGET	
FISCAL YEAR 2020/2021 BUDGET	

COMMENTS	
O&M Assessments	0	0	142,826	Expenditures Less Interest/.94	
Developer Contribution - O&M	86,983	108,605	0		
Developer Contribution - Debt	0	627,063	0		
Debt Assessments	0	0	663,697	Bond Payments/.94	
Interest Income	8	0	60	Interest Projected At $5 Per Month	
					
TOTAL REVENUES	$	86,991	$	735,668	$	806,583		
					
EXPENDITURES					
Supervisor Fees	0	0	0		
Engineering/Inspections	11,326	2,500	15,000	Engineering/Inspections	
Management	22,500	27,000	27,612	CPI Adjustment	
Legal	9,368	20,000	19,000	$1,000 Decrease From 2019/2020 Budget	
Assessment Roll	0	4,000	4,000	As Per Contract	
Audit Fees	0	4,000	3,700	Accepted Amount For 2019/2020 Audit	
Arbitrage Rebate Fee	0	650	650	Will Commence In Fiscal Year Following Issuing Of Bond	
Insurance	4,562	6,000	5,900	Insurance Estimate	
Legal Advertisements	10,801	5,000	4,000	$1,000 Decrease From 2019/2020 Budget	
Miscellaneous	651	1,000	1,000	No Change From 2019/2020 Budget	
Postage	561	300	300	No Change From 2019/2020 Budget	
Office Supplies	1,715	1,500	1,500	No Change From 2019/2020 Budget	
Dues & Subscriptions	175	175	175	Annual Fee Due Department Of Economic Opportunity	
Trustee Fees	0	4,000	4,000	No Change From 2019/2020 Budget	
Continuing Disclosure Fee	0	1,000	1,000	No Change From 2019/2020 Budget	
Mitigation Monitoring	9,325	31,480	31,480	Mitigation Monitoring	
Lake Maintenance	0	0	10,000	Lake Maintenance	
Flow Way Inspection Certification	0	0	5,000	Flow Way Inspection Certification	
TOTAL EXPENDITURES	$	70,984	$	108,605	$	134,317		
					
REVENUES LESS EXPENDITURES	$	16,007	$	627,063	$	672,266		
					
Bond Payments	0	(627,063)	(623,875)	2021 P & I Payments Less Earned Interest	
					
BALANCE	$	16,007	$	-	$	48,391		
					
County Appraiser & Tax Collector Fee	0	0	(16,130)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	0	0	(32,261)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	16,007	$	-	$	-		

4/20/2020 11:41 AM	II

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
BLUE LAKE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2018/2019 ACTUAL	FISCAL YEAR 2019/2020 BUDGET	FISCAL YEAR 2020/2021 BUDGET	

COMMENTS	

Interest Income	
204	
50	
50	
Projected Interest For 2020/2021	

NAV Tax Collection	
0	
0	
623,875	
Maximum Debt Service Collection	

Debt Service Bond Proceeds	
330,359	
0	
0		

Developer Contribution	
0	
627,063	
0	
2019/2020 Payments Were Developer Funded	

Total Revenues	
$	330,563	
$	627,113	
$	623,925		

EXPENDITURES					

Principal Payments	
0	
185,000	
190,000	
Principal Payment Due In 2021	

Interest Payments	
18,421	
442,113	
432,313	
Interest Payment Due In 2021	

Bond Redemption	
0	
-	
1,562	
Estimated Excess Debt Collections	

Transfer To Construction Fund	
201	
-	
50	
Transfer To Construction Fund	

Total Expenditures	
$	18,622	
$	627,113	
$	623,925		

Excess/ (Shortfall)	
$	311,941	
$	-	
$	-		

Series 2019 Bond Information

Original Par Amount =	$10,400,000	Annual Principal Payments Due =	June 15th	

Interest Rate =	
3.50% - 4.5%	
Annual Interest Payments Due =	
June 15th & December 15th	

Issue Date =	
May 2019			

Maturity Date =	
June 2049			

Par Amount As Of 1/1/20 =	$10,400,000

4/20/2020 11:41 AM	III

Blue Lake Community Development District Assessment Comparison

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

O & M Assessment For 50' Single Family Units	$	-	$	-	$	337.66

Debt Assessment For 50' Single Family Units

$	-		$	-	

$	1,330.00

Total For 50' Single Family Units	$

-	$	-	$

1,667.66

O & M Assessment For 60' Single Family Units	$	-	$	-	$	337.66

Debt Assessment For 60' Single Family Units

$	-		$	-	

$	1,596.00

Total For 60' Single Family Units	$

-	$	-	$

1,933.66

O & M Assessment For 75' Single Family Units	$	-	$	-	$	337.66

Debt Assessment For 75' Single Family Units

$	-		$	-	

$	1,995.00

Total For 75' Single Family Units	$

-	$	-	$

2,332.66

* Assessments Include the Following :

4% Discount for Early Payments 1% County Tax Collector Fee
1% County Property Appraiser Fee

Community Information:

50' Single Family Units	182
60' Single Family Units	148
75' Single Family Units	93
Total Units	423

4/20/2020 11:41 AM	IV