Blue Lake Community Development District

Proposed Budget For Fiscal Year 2022/2023
October 1, 2022 - September 30, 2023

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

PROPOSED BUDGET
BLUE LAKE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2022/2023 BUDGET	
O&M Assessments	253,701	
Developer Contribution - O&M	0	
Developer Contribution - Debt	0	
Debt Assessments	663,697	
Interest Income	120	
		
TOTAL REVENUES	$	917,518	
		
EXPENDITURES		
Supervisor Fees	0	
Engineering/Inspections	15,000	
Management	28,824	
Legal	14,000	
Assessment Roll	4,000	
Audit Fees	3,900	
Arbitrage Rebate Fee	650	
Insurance	6,100	
Legal Advertisements	3,000	
Miscellaneous	1,000	
Postage	300	
Office Supplies	1,100	
Dues & Subscriptions	175	
Trustee Fees	4,050	
Continuing Disclosure Fee	1,000	
Mitigation Monitoring	73,000	
Lake Maintenance	35,000	
Flow Way Inspection Certification	2,500	
Vista Dry Retention Area	45,000	
TOTAL EXPENDITURES	$	238,599	
		
REVENUES LESS EXPENDITURES	$	678,919	
		
Bond Payments	(623,875)	
		
BALANCE	$	55,044	
		
County Appraiser & Tax Collector Fee	(18,348)	
Discounts For Early Payments	(36,696)	
		
EXCESS/ (SHORTFALL)	$	-	

3/21/2022 1:30 PM	I

DETAILED PROPOSED BUDGET
BLUE LAKE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2020/2021 ACTUAL	
FISCAL YEAR 2021/2022 BUDGET	
FISCAL YEAR 2022/2023 BUDGET	

COMMENTS	
O&M Assessments	137,377	142,830	253,701	Expenditures Less Interest/.94	
Developer Contribution - O&M	0	27,500	0	Developer Contribution - O&M	
Developer Contribution - Debt	217,819	0	0		
Debt Assessments	638,494	663,697	663,697	Bond Payments/.94	
Interest Income	117	60	120	Interest Projected At $10 Per Month	
					
TOTAL REVENUES	$	993,807	$	834,087	$	917,518		
					
EXPENDITURES					
Supervisor Fees	0	0	0		
Engineering/Inspections	10,100	15,000	15,000	Engineering/Inspections	
Management	27,612	27,996	28,824	CPI Adjustment (Capped At 3%)	
Legal	3,075	15,000	14,000	FY 2021/2022 Expenditure Through 1/31/22 Was $1,840	
Assessment Roll	4,000	4,000	4,000	As Per Contract	
Audit Fees	3,700	3,800	3,900	Accepted Amount For 2021/2022 Audit	
Arbitrage Rebate Fee	650	650	650	No Change From 2021/2022 Budget	
Insurance	5,513	5,900	6,100	Insurance Estimate	
Legal Advertisements	2,079	4,000	3,000	$1,000 Decrease From 2021/2022 Budget	
Miscellaneous	193	1,150	1,000	$150 Decrease From 2021/2022 Budget	
Postage	158	300	300	No Change From 2021/2022 Budget	
Office Supplies	164	1,300	1,100	$200 Decrease From 2021/2022 Budget	
Dues & Subscriptions	175	175	175	Annual Fee Due Department Of Economic Opportunity	
Trustee Fees	4,031	4,050	4,050	No Change From 2021/2022 Budget	
Continuing Disclosure Fee	1,000	1,000	1,000	No Change From 2021/2022 Budget	
Mitigation Monitoring	35,361	45,000	73,000	FY 2021/2022 Expenditure Through 1/31/22 Was $58,513	
Lake Maintenance	35,650	30,000	35,000	FY 2021/2022 Expenditure Through 2/28/22 Was $16,452	
Flow Way Inspection Certification	0	2,500	2,500	$5,000 Expenditure Every Other Year	
Vista Dry Retention Area	0	0	45,000	Vista Dry Retention Area	
TOTAL EXPENDITURES	$	133,461	$	161,821	$	238,599		
					
REVENUES LESS EXPENDITURES	$	860,346	$	672,266	$	678,919		
					
Bond Payments	(846,915)	(623,875)	(623,875)	2023 P & I Payments Less Earned Interest	
					
BALANCE	$	13,431	$	48,391	$	55,044		
					
County Appraiser & Tax Collector Fee	(301)	(16,130)	(18,348)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(11,187)	(32,261)	(36,696)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	1,943	$	-	$	-		

3/21/2022 1:30 PM	II

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
BLUE LAKE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	FISCAL YEAR 2020/2021 ACTUAL	FISCAL YEAR 2021/2022 BUDGET	FISCAL YEAR 2022/2023 BUDGET	

COMMENTS	

Interest Income	
32	
25	
25	
Projected Interest For 2022/2023	

NAV Tax Collection	
629,097	
623,875	
623,875	
Maximum Debt Service Collection	

Developer Contribution	
217,819	
0	
0	
Dec 2021 Interest Payment Was Developer Funded	

Total Revenues	
$	846,948	
$	623,900	
$	623,900		

EXPENDITURES					

Principal Payments	
190,000	
195,000	
205,000	
Principal Payment Due In 2023	

Interest Payments	
435,638	
425,575	
418,575	
Interest Payment Due In 2023	

Bond Redemption	
0	
3,275	
275	
Estimated Excess Debt Collections	

Transfer To Construction Fund	
16	
50	
50	
Transfer To Construction Fund	

Total Expenditures	
$	625,654	
$	623,900	
$	623,900		

Excess/ (Shortfall)	
$	221,294	
$	-	
$	-		

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 1/1/22 =	$10,025,000

3/21/2022 1:30 PM	III

Blue Lake Community Development District Assessment Comparison

Fiscal Year 2019/2020
Assessment*	Fiscal Year 2020/2021
Assessment*	Fiscal Year 2021/2022
Assessment*	Fiscal Year 2022/2023
Projected Assessment*	

O & M Assessment For 50' Single Family Units	

$	

-	

$	

337.66	

$	

337.66	

$	

599.77	
Debt Assessment For 50' Single Family Units	$	- 	$	1,330.00	$	1,330.00	$	1,330.00	
Total For 50' Single Family Units	$	-	$	1,667.66	$	1,667.66	$	1,929.77	

O & M Assessment For 60' Single Family Units	
$	-	
$	337.66	
$	337.66	
$	599.77	
Debt Assessment For 60' Single Family Units	$	- 	$	1,596.00	$	1,596.00	$	1,596.00	
Total For 60' Single Family Units	$	-	$	1,933.66	$	1,933.66	$	2,195.77	

O & M Assessment For 75' Single Family Units	
$	-	
$	337.66	
$	337.66	
$	599.77	
Debt Assessment For 75' Single Family Units	$	- 	$	1,995.00	$	1,995.00	$	1,995.00	
Total For 75' Single Family Units	$	-	$	2,332.66	$	2,332.66	$	2,594.77	

* 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		

3/21/2022 1:30 PM	IV