Title: CRN Proposed Budget 2021-2022.xlsx
Author: JWalker

Coronado Community Development District

Proposed Budget For Fiscal Year 2021/2022
October 1, 2021 - September 30, 2022

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

PROPOSED BUDGET
CORONADO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES

FISCAL YEAR 2021/2022
BUDGET

Administrative Assessments | 86,329
Maintenance Assessments | 112,921
Debt Assessments | 252,625
Master Association Contributions | 74,675
Other Revenues | 0
Interest | 360
TOTAL REVENUES | $	526,910
EXPENDITURES |
MAINTENANCE EXPENDITURES |
Security Services | 149,350
Aquatic Maintenance/Midgefly Control | 3,000
Fountain Maintenance/Power - FPL | 2,000
Storm Drainage Maintenance | 3,000
Engineering | 2,000
Roadway/Street Maintenance | 5,400
Soft Gates & Security Cameras Maintenance | 4,200
Soft Gates Control/Power - FPL/Comcast | 4,500
Security Camera Monitoring/Recording | 4,000
Contingency | 2,600
Maintenance Reserve | 1,900
TOTAL MAINTENANCE EXPENDITURES | $	181,950
ADMINISTRATIVE EXPENDITURES |
Supervisor Fees | 7,000
Payroll Taxes | 535
Management | 36,588
Field Operations Management | 2,100
Legal | 10,000
Assessment Roll | 3,000
Audit Fees | 3,600
Insurance | 7,200
Legal Advertisements | 1,500
Miscellaneous | 2,000
Postage | 475
Office Supplies | 750
Dues & Subscriptions | 175
Trustee Fee | 3,600
Continuing Disclosure Fee | 350
Website Management/ADA Compliance | 2,000
Operating Reserve | 1,500
TOTAL ADMINISTRATIVE EXPENDITURES | $	82,373
TOTAL EXPENDITURES | $	264,323
REVENUES LESS EXPENDITURES | $	262,587
Bond Payments | (239,994)
BALANCE | $	22,593
County Appraiser & Tax Collector Fee | (4,518)
Discounts For Early Payments | (18,075)
EXCESS/ (SHORTFALL) | $	-
Carryover From Prior Year | 0
NET EXCESS/ (SHORTFALL) | $	-

3/10/2021 7:45 AM	^I

DETAILED PROPOSED BUDGET
CORONADO 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

Administrative Assessments | 83,721 | 87,430 | 86,329 | Expenditures Less Interest & Carryover/.95
Maintenance Assessments | 117,632 | 111,842 | 112,921 | Expenditures Less Contributions/.95
Debt Assessments | 252,624 | 252,625 | 252,625 | Bond Payments/.95
Master Association Contributions | 70,998 | 72,500 | 74,675 | Master Association Contributions - 50% Of Security
Other Revenues | 884 | 0 | 0 |
Interest | 408 | 360 | 360 | Projected At $30 Per Month
TOTAL REVENUES | $	526,267 | $	524,757 | $	526,910 |
EXPENDITURES | | | |
MAINTENANCE EXPENDITURES | | | |
Security Services | 142,091 | 145,000 | 149,350 | $4,350 Increase From 2020/2021 Budget
Aquatic Maintenance/Midgefly Control | 1,920 | 3,000 | 3,000 | No Change From 2020/2021 Budget
Fountain Maintenance/Power - FPL | 987 | 2,000 | 2,000 | No Change From 2020/2021 Budget
Storm Drainage Maintenance | 0 | 3,000 | 3,000 | No Change From 2020/2021 Budget
Engineering | 2,323 | 1,750 | 2,000 | $250 Increase From 2020/2021 Budget
Roadway/Street Maintenance | 688 | 5,400 | 5,400 | No Change From 2020/2021 Budget
Soft Gates & Security Cameras Maintenance | 0 | 4,200 | 4,200 | No Change From 2020/2021 Budget
Soft Gates Control/Power - FPL/Comcast | 0 | 4,500 | 4,500 | No Change From 2020/2021 Budget
Security Camera Monitoring/Recording | 3,380 | 4,000 | 4,000 | No Change From 2020/2021 Budget
Contingency | 500 | 4,000 | 2,600 | Contingency
Maintenance Reserve | 8,914 | 1,900 | 1,900 | Maintenance Reserve
TOTAL MAINTENANCE EXPENDITURES | $	160,803 | $	178,750 | $	181,950 |
ADMINISTRATIVE EXPENDITURES | | | |
Supervisor Fees | 3,200 | 7,000 | 7,000 | No Change From 2020/2021 Budget
Payroll Taxes | 245 | 535 | 535 | Supervisor Fees * 7.65%
Management | 35,280 | 36,084 | 36,588 | CPI Adjustment
Field Operations Management | 2,100 | 2,100 | 2,100 | No Change From 2020/2021 Budget
Legal | 5,372 | 10,000 | 10,000 | No Change From 2020/2021 Budget
Assessment Roll | 3,000 | 3,000 | 3,000 | As Per Contract
Audit Fees | 3,400 | 3,500 | 3,600 | Accepted Amount For 2020/2021 Audit
Insurance | 5,251 | 7,200 | 7,200 | Insurance Estimate
Legal Advertisements | 928 | 1,600 | 1,500 | $100 Decrease From 2020/2021 Budget
Miscellaneous | 995 | 2,000 | 2,000 | No Change From 2020/2021 Budget
Postage | 114 | 500 | 475 | $25 Decrease From 2020/2021 Budget
Office Supplies | 459 | 775 | 750 | $25 Decrease From 2020/2021 Budget
Dues & Subscriptions | 175 | 175 | 175 | No Change From 2020/2021 Budget
Trustee Fee | 3,165 | 3,600 | 3,600 | No Change From 2020/2021 Budget
Continuing Disclosure Fee | 350 | 350 | 350 | No Change From 2020/2021 Budget
Website Management/ADA Compliance | 2,000 | 2,000 | 2,000 | No Change From 2020/2021 Budget
Operating Reserve | 0 | 3,000 | 1,500 | Operating Reserve
TOTAL ADMINISTRATIVE EXPENDITURES | $	66,034 | $	83,419 | $	82,373 |
TOTAL EXPENDITURES | $	226,837 | $	262,169 | $	264,323 |
REVENUES LESS EXPENDITURES | $	299,430 | $	262,588 | $	262,587 |
Bond Payments | (241,785) | (239,994) | (239,994) | 2022 P & I Payments Less Interest
BALANCE | $	57,645 | $	22,594 | $	22,593 |
County Appraiser & Tax Collector Fee | (4,372) | (4,518) | (4,518) | One Percent Of Total Assessment Roll
Discounts For Early Payments | (15,053) | (18,076) | (18,075) | Four Percent Of Total Assessment Roll
EXCESS/ (SHORTFALL) | $	38,220 | $	- | $	- |
Carryover From Prior Year | 0 | 0 | 0 | Carryover From Prior Year
NET EXCESS/ (SHORTFALL) | $	38,220 | $	- | $	- |

3/10/2021 7:45 AM	^II

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
CORONADO 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 | 1,643 | 200 | 25 | Projected Interest For 2021/2022
NAV Tax Collection | 241,785 | 239,994 | 239,994 | Maximum Debt Service Collection
Total Revenues | $	243,428 | $	240,194 | $	240,019 |
EXPENDITURES | | | |
Principal Payments | 119,000 | 122,000 | 126,000 | Principal Payments Due In 2022
Interest Payments | 121,648 | 117,220 | 113,886 | Interest Payments Due In 2022
Bond Redemption | 0 | 974 | 133 | Estimated Excess Debt Collections
Total Expenditures | $	240,648 | $	240,194 | $	240,019 |
Excess/ (Shortfall) | $	2,781 | $	- | $	- |

Series 2017 Bond Refunding Information

Original Par Amount = | $3,399,000 | Annual Principal Payments Due = | May 1st
Interest Rate = | 2.125% - 4.25% | Annual Interest Payments Due = | May 1st & November 1st
Issue Date = | April 2017 | |

Maturity Date =

Par Amount As Of 1/1/2021 =

May 2038

$3,049,000

3/10/2021 7:45 AM	^III

Coronado Community Development District Assessment Comparison

Fiscal Year 2018/2019
 	Assessment*

Fiscal Year 2019/2020
 	Assessment*

Fiscal Year 2020/2021
 	Assessment*

Fiscal Year 2021/2022
 	Projected Assessment*

Administrative | $ | 241.84 | $ | 251.30 | $ | 267.38 | $ | 264.01
Maintenance | $ | 369.71 | $ | 359.73 | $ | 342.03 | $ | 345.33

Debt

$	772.56

$	772.56

$	772.56

$	772.56

Total	$

1,384.11	$

1,383.59	$

1,381.97	$

1,381.90

* Assessments Include the Following :	                   4% Discount for Early Payments
1% County Tax Collector/Property Appraiser Fee
Community Information:	Total Units 	 327

3/10/2021 7:45 AM	^IV