Corkscrew Crossing Community Development District

Final Budget For Fiscal Year 2024/2025
October 1, 2024 - September 30, 2025

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

FINAL BUDGET
CORKSCREW CROSSING COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	
FISCAL YEAR 2024/2025 BUDGET	
O&M (Operation & Maintenance) Assessments	238,026	
Developer Contribution	0	
Debt Assessments	876,986	
Other Revenue	0	
Interest Income	480	
		
TOTAL REVENUES	$	1,115,492	
		
EXPENDITURES		
Administrative Expenditures		
Supervisor Fees	0	
Management	37,080	
Legal	29,000	
Assessment Roll	5,000	
Audit Fees	4,400	
Arbitrage Rebate Fee	650	
Insurance	6,000	
Legal Advertisements	2,750	
Miscellaneous	1,350	
Postage	200	
Office Supplies	1,400	
Dues & Subscriptions	175	
Website Management & ADA Compliance	3,000	
Trustee Fees	4,100	
Continuing Disclosure Fee	1,000	
Total Administrative Expenditures	$	96,105	
		
Maintenance Expenditures		
Engineering/Inspections	6,000	
Miscellaneous Maintenance	1,000	
Landscaping	0	
Preserve Maintenance	91,000	
Lake Littoral Maintenance	6,800	
Lake Maintenance	14,100	
Lake Native Grass Maintenance	11,600	
Total Maintenance Expenditures	$	130,500	
		
Total O&M Expenditures	$	226,605	
		
REVENUES LESS EXPENDITURES	$	888,887	
		
Bond Payments	(833,137)	
		
BALANCE	$	55,750	
		
County Appraiser & Tax Collector Fee	(11,150)	
Discounts For Early Payments	(44,600)	
		
EXCESS/ (SHORTFALL)	$	-	

DETAILED FINAL BUDGET
CORKSCREW CROSSING COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	
FISCAL YEAR 2022/2023 ACTUAL	
FISCAL YEAR 2023/2024 BUDGET	
FISCAL YEAR 2024/2025 BUDGET	

COMMENTS	
O&M (Operation & Maintenance) Assessments	0	248,435	238,026	Expenditures Less Interest/.95	
Developer Contribution	65,906	0	0		
Debt Assessments	0	886,316	876,986	Bond Payments/.95	
Other Revenue	16,796	0	0		
Interest Income	507	240	480	Interest Projected At $40 Per Month	
					
TOTAL REVENUES	$	83,209	$	1,134,991	$	1,115,492		
					
EXPENDITURES					
Administrative Expenditures					
Supervisor Fees	0	0	0		
Management	36,000	36,000	37,080	CPI Adjustment (Capped At 3%)	
Legal	17,450	30,000	29,000		
Assessment Roll	5,000	5,000	5,000	As Per Contract	
Audit Fees	3,200	4,300	4,400	Accepted Amount For 2023/2024 Audit	
Arbitrage Rebate Fee	0	650	650	No Change From 2023/2024 Budget	
Insurance	5,000	6,000	6,000	FY 2023/2024 Expenditure Was $5,375	
Legal Advertisements	9,637	3,000	2,750	Expenditure Was Higher In 22/23 Due To Bond Issue	
Miscellaneous	540	1,500	1,350	$150 Decrease From 2023/2024 Budget	
Postage	764	200	200	No Change From 2023/2024 Budget	
Office Supplies	1,749	1,500	1,400	Expenditure Was Higher In 22/23 Due To Bond Issue	
Dues & Subscriptions	175	175	175	Annual Fee Due Department Of Economic Opportunity	
Website Management & ADA Compliance	3,000	3,000	3,000	$250 X 12 Months	
Trustee Fees	0	4,100	4,100	Commences In Fiscal Year Following Issuing Of Bond	
Continuing Disclosure Fee	0	1,000	1,000	No Change From 2023/2024 Budget	
Total Administrative Expenditures	$	82,515	$	96,425	$	96,105		
					
Maintenance Expenditures					
Engineering/Inspections	5,662	6,000	6,000		
Miscellaneous Maintenance	0	1,000	1,000		
Landscaping	0	10,000	0	Line Item Eliminated	
Preserve Maintenance	0	105,432	91,000		
Lake Littoral Maintenance	0	0	6,800		
Lake Maintenance	0	14,912	14,100	Lakes Being Conveyed To The District	
Lake Native Grass Maintenance	0	0	11,600		
Total Maintenance Expenditures	$	5,662	$	137,344	$	130,500		
					
Total O&M Expenditures	$	88,177	$	233,769	$	226,605		
					
REVENUES LESS EXPENDITURES	$	(4,968)	$	901,222	$	888,887		
					
Bond Payments	0	(833,137)	(833,137)	2025 P & I Payments	
					
BALANCE	$	(4,968)	$	68,085	$	55,750		
					
County Appraiser & Tax Collector Fee	0	(22,695)	(11,150)	One Percent Of Total Assessment Roll	
Discounts For Early Payments	0	(45,390)	(44,600)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	(4,968)	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND BUDGET
CORKSCREW CROSSING COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	FISCAL YEAR 2022/2023 ACTUAL	FISCAL YEAR 2023/2024 BUDGET	FISCAL YEAR 2024/2025 BUDGET	

COMMENTS	

Interest Income	
17,328	
100	
500	
Projected Interest For 2024/2025	

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

Bond Proceeds	
872,085	
0	
0		

Total Revenues	
$	889,413	
$	833,237	
$	833,637		

EXPENDITURES					

Principal Payments	
0	
195,000	
205,000	
Principal Payment Due In 2025	

Interest Payments	
136,478	
634,056	
625,806	
Interest Payment Due In 2025	

Bond Redemption	
0	
4,181	
2,831	
Estimated Excess Debt Collections	

Total Expenditures	
$	136,478	
$	833,237	
$	833,637		

Excess/ (Shortfall)	
$	752,935	
$	-	
$	-		

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 3/1/24 =	$12,670,000

Corkscrew Crossing Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	
2022/2023	2023/2024	2024/2025	
Assessment*	Assessment*	Projected Assessment*	

O & M Assessment For 50' Single Family Units	

$	-	

$	448.44	

$	

429.66	
Debt Assessment For 50' Single Family Units	$	- 	$	1,600.00	$	1,583.01	
Total For 50' Single Family Units	$	-	$	2,048.44	$	2,012.67	

* Assessments Include the Following :		Overall County Fees Percentage
4% Discount for Early Payments	Was Lowered From 2% In
0.5% County Tax Collector Fee	Fiscal Year 2023/2024 to
0.5% County Property Appraiser Fee	1% In 2024/2025

Community Information:
50' Single Family Units	554

7/28/2024 11:25 AM	IV