Corkscrew Crossing Community Development District

Proposed Budget For Fiscal Year 2023/2024
October 1, 2023 - September 30, 2024

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

PROPOSED BUDGET
CORKSCREW CROSSING COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2023/2024
BUDGET	
O&M (Operation & Maintenance) Assessments	248,435	
Developer Contribution	0	
Debt Assessments	886,316	
Interest Income	240	
		
TOTAL REVENUES	$	1,134,991	
		
EXPENDITURES		
Administrative Expenditures		
Supervisor Fees	0	
Management	36,000	
Legal	30,000	
Assessment Roll	5,000	
Audit Fees	4,300	
Arbitrage Rebate Fee	650	
Insurance	6,000	
Legal Advertisements	3,000	
Miscellaneous	1,500	
Postage	200	
Office Supplies	1,500	
Dues & Subscriptions	175	
Website Management & ADA Compliance	3,000	
Trustee Fees	4,100	
Continuing Disclosure Fee	1,000	
Total Administrative Expenditures	$	96,425	
		
Maintenance Expenditures		
Engineering/Inspections	6,000	
Miscellaneous Maintenance	1,000	
Landscaping	10,000	
Preserve Maintenance	105,432	
Lake Maintenance	14,912	
Total Maintenance Expenditures	$	137,344	
		
Total O&M Expenditures	$	233,769	
		
REVENUES LESS EXPENDITURES	$	901,222	
		
Bond Payments	(833,137)	
		
BALANCE	$	68,085	
		
County Appraiser & Tax Collector Fee	(22,695)	
Discounts For Early Payments	(45,390)	
		
EXCESS/ (SHORTFALL)	$	-	

3/5/2023 9:22 AM	I

DETAILED PROPOSED BUDGET
CORKSCREW CROSSING COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2021/2022 ACTUAL	
FISCAL YEAR 2022/2023 BUDGET	
FISCAL YEAR 2023/2024 BUDGET	

COMMENTS	
O&M (Operation & Maintenance) Assessments	0	0	248,435	Expenditures Less Interest/.94	
Developer Contribution	35,775	87,875	0		
Debt Assessments	0	0	886,316	Bond Payments/.94	
Interest Income	0	0	240	Interest Projected At $20 Per Month	
					
TOTAL REVENUES	$	35,775	$	87,875	$	1,134,991		
					
EXPENDITURES					
Administrative Expenditures					
Supervisor Fees	0	0	0		
Management	3,000	36,000	36,000	$3,000 X 12 Months	
Legal	10,762	30,000	30,000		
Assessment Roll	0	0	5,000	As Per Contract	
Audit Fees	0	0	4,300		
Arbitrage Rebate Fee	0	0	650	
Commences In Fiscal Year Following Issuing Of Bond	
Insurance	795	6,000	6,000		
Legal Advertisements	4,536	7,500	3,000		
Miscellaneous	67	1,500	1,500		
Postage	0	200	200		
Office Supplies	221	1,500	1,500		
Dues & Subscriptions	0	175	175	
Annual Fee Due Department Of Economic Opportunity	
Website Management & ADA Compliance	250	3,000	3,000	$250 X 12 Months	
Trustee Fees	0	0	4,100	
Commences In Fiscal Year Following Issuing Of Bond	
Continuing Disclosure Fee	0	0	1,000		
Total Administrative Expenditures	$	19,631	$	85,875	$	96,425		
					
Maintenance Expenditures					
Engineering/Inspections	5,723	1,000	6,000		
Miscellaneous Maintenance	0	1,000	1,000		
Landscaping	0	0	10,000		
Preserve Maintenance	0	0	105,432		
Lake Maintenance	0	0	14,912		
Total Maintenance Expenditures	$	5,723	$	2,000	$	137,344		
					
Total O&M Expenditures	$	25,354	$	87,875	$	233,769		
					
REVENUES LESS EXPENDITURES	$	10,421	$	-	$	901,222		
					
Bond Payments	0	0	(833,137)	2024 P & I Payments Less Earned Interest	
					
BALANCE	$	10,421	$	-	$	68,085		
					
County Appraiser & Tax Collector Fee	0	0	(22,695)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	0	0	(45,390)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	10,421	$	-	$	-		

3/5/2023 9:22 AM	II

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
CORKSCREW CROSSING COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	FISCAL YEAR 2021/2022 ACTUAL	FISCAL YEAR 2022/2023 BUDGET	FISCAL YEAR 2023/2024 BUDGET	

COMMENTS	

Interest Income	
0	
0	
100	
Projected Interest For 2023/2024	

NAV Tax Collection	
0	
0	
833,137	
Maximum Debt Service Collection	

Developer Contribution	
0	
0	
0		

Total Revenues	
$	-	
$	-	
$	833,237		

EXPENDITURES					

Principal Payments	
0	
0	
195,000	
Principal Payment Due In 2024	

Interest Payments	
0	
0	
634,056	
Interest Payment Due In 2024	

Bond Redemption	
0	
-	
4,181	
Estimated Excess Debt Collections	

Total Expenditures	
$	-	
$	-	
$	833,237		

Excess/ (Shortfall)	
$	-	
$	-	
$	-		

Series 2023 Bond Information

Original Par Amount =	$12,670,000	Annual Principal Payments Due =	May 1st	

Interest Rate =	
4.125% - 5.3%	
Annual Interest Payments Due =	
May 1st & November 1st	

Issue Date =	
February 2023			

Maturity Date =	
May 2053			

Par Amount As Of 3/1/23 =	$12,670,000

3/5/2023 9:22 AM	III

Corkscrew Crossing Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	
2021/2022	2022/2023	2023/2024	
Assessment*	Assessment*	Projected Assessment*	

O & M Assessment For 50' Single Family Units	 

$	-	$	-	$	448.44	
Debt Assessment For 50' Single Family Units	$	- 	$	- 	$	1,600.00	
Total For 50' Single Family Units	$	-	$	-	$	2,048.44	

* 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	554

3/5/2023 9:22 AM	IV