Blue Lake 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
BLUE LAKE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2021/2022 BUDGET	
O&M Assessments	142,830	
Developer Contribution - O&M	27,500	
Developer Contribution - Debt	0	
Debt Assessments	663,697	
Interest Income	60	
		
TOTAL REVENUES	$	834,087	
		
EXPENDITURES		
Supervisor Fees	0	
Engineering/Inspections	15,000	
Management	27,996	
Legal	15,000	
Assessment Roll	4,000	
Audit Fees	3,800	
Arbitrage Rebate Fee	650	
Insurance	5,900	
Legal Advertisements	4,000	
Miscellaneous	1,150	
Postage	300	
Office Supplies	1,300	
Dues & Subscriptions	175	
Trustee Fees	4,050	
Continuing Disclosure Fee	1,000	
Mitigation Monitoring	45,000	
Lake Maintenance	30,000	
Flow Way Inspection Certification	2,500	
TOTAL EXPENDITURES	$	161,821	
		
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)	$	-	

6/16/2021 8:45 AM	I

DETAILED FINAL BUDGET
BLUE LAKE 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	
O&M Assessments	0	142,826	142,830	Expenditures Less Interest/.94	
Developer Contribution - O&M	108,604	0	27,500	Developer Contribution - O&M	
Developer Contribution - Debt	627,113	0	0		
Debt Assessments	0	663,697	663,697	Bond Payments/.94	
Interest Income	17	60	60	Interest Projected At $5 Per Month	
					
TOTAL REVENUES	$	735,734	$	806,583	$	834,087		
					
EXPENDITURES					
Supervisor Fees	0	0	0		
Engineering/Inspections	2,657	15,000	15,000	Engineering/Inspections	
Management	27,000	27,612	27,996	CPI Adjustment	
Legal	6,944	19,000	15,000	FY 2020/2021 Expenditure Through 1/31/21 Was $1,383	
Assessment Roll	4,000	4,000	4,000	As Per Contract	
Audit Fees	3,600	3,700	3,800	Accepted Amount For 2020/2021 Audit	
Arbitrage Rebate Fee	650	650	650	No Change From 2020/2021 Budget	
Insurance	5,251	5,900	5,900	Insurance Estimate	
Legal Advertisements	5,019	4,000	4,000	No Change From 2020/2021 Budget	
Miscellaneous	141	1,000	1,150	$150 Increase From 2020/2021 Budget	
Postage	177	300	300	No Change From 2020/2021 Budget	
Office Supplies	266	1,500	1,300	$200 Decrease From 2020/2021 Budget	
Dues & Subscriptions	175	175	175	Annual Fee Due Department Of Economic Opportunity	
Trustee Fees	4,031	4,000	4,050	$50 Increase From 2020/2021 Budget	
Continuing Disclosure Fee	1,000	1,000	1,000	No Change From 2020/2021 Budget	
Mitigation Monitoring	33,188	31,480	45,000	FY 2020/2021 Expenditure Through 3/31/21 Was $24,521	
Lake Maintenance	16,125	10,000	30,000	FY 2020/2021 Expenditure Through 3/31/21 Was $14,382	
Flow Way Inspection Certification	0	5,000	2,500	$5,000 Expenditure Every Other Year	
TOTAL EXPENDITURES	$	110,224	$	134,317	$	161,821		
					
REVENUES LESS EXPENDITURES	$	625,510	$	672,266	$	672,266		
					
Bond Payments	(627,113)	(623,875)	(623,875)	2022 P & I Payments Less Earned Interest	
					
BALANCE	$	(1,603)	$	48,391	$	48,391		
					
County Appraiser & Tax Collector Fee	0	(16,130)	(16,130)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	0	(32,261)	(32,261)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	(1,603)	$	-	$	-		

6/16/2021 8:45 AM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET
BLUE LAKE 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	
286	
50	
25	
Projected Interest For 2021/2022	

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

Developer Contribution	
627,113	
0	
0	
2019/2020 Payments Were Developer Funded	

Total Revenues	
$	627,399	
$	623,925	
$	623,900		

EXPENDITURES					

Principal Payments	
185,000	
190,000	
195,000	
Principal Payment Due In 2022	

Interest Payments	
442,113	
432,313	
425,575	
Interest Payment Due In 2022	

Bond Redemption	
0	
1,562	
3,275	
Estimated Excess Debt Collections	

Transfer To Construction Fund	
261	
50	
50	
Transfer To Construction Fund	

Total Expenditures	
$	627,374	
$	623,925	
$	623,900		

Excess/ (Shortfall)	
$	25	
$	-	
$	-		

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 1/1/21 =	$10,215,000

6/16/2021 8:45 AM	III

Blue Lake 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*	

O & M Assessment For 50' Single Family Units	

$	-	

$	-	

$	337.66	

$	337.66	
Debt Assessment For 50' Single Family Units	$	- 	$	- 	$	1,330.00	$	1,330.00	
Total For 50' Single Family Units	$	-	$	-	$	1,667.66	$	1,667.66	

O & M Assessment For 60' Single Family Units	
$	-	$	-	$	337.66	
$	
337.66	
Debt Assessment For 60' Single Family Units	$	- 	$	- 	$	1,596.00	$	1,596.00	
Total For 60' Single Family Units	$	-	$	-	$	1,933.66	$	1,933.66	

O & M Assessment For 75' Single Family Units	
$	-	$	-	$	337.66	
$	
337.66	
Debt Assessment For 75' Single Family Units	$	- 	$	- 	$	1,995.00	$	1,995.00	
Total For 75' Single Family Units	$	-	$	-	$	2,332.66	$	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		

6/16/2021 8:45 AM	IV