Title: CRN Proposed Budget 2022-2023.xlsx
Author: JWalker

Coronado 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
CORONADO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES

FISCAL YEAR 2022/2023
BUDGET

Administrative Assessments | 84,111
Maintenance Assessments | 114,947
Debt Assessments | 252,625
Master Association Contributions | 81,000
Other Revenues | 0
Interest | 360
TOTAL REVENUES | $	533,043
EXPENDITURES |
MAINTENANCE EXPENDITURES |
Security Services | 162,000
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 | 8,700
Security Camera Monitoring/Recording | 0
Miscellaneous Maintenance | 4,100
TOTAL MAINTENANCE EXPENDITURES | $	190,200
ADMINISTRATIVE EXPENDITURES |
Supervisor Fees | 7,000
Payroll Taxes | 535
Management | 37,680
Field Operations Management | 2,100
Legal | 9,000
Assessment Roll | 3,000
Audit Fees | 3,700
Insurance | 7,200
Legal Advertisements | 1,400
Miscellaneous | 2,000
Postage | 425
Office Supplies | 700
Dues & Subscriptions | 175
Trustee Fee | 3,600
Continuing Disclosure Fee | 350
Website Management/ADA Compliance | 2,000
Operating Reserve | 1,500
TOTAL ADMINISTRATIVE EXPENDITURES | $	82,365
TOTAL EXPENDITURES | $	272,565
REVENUES LESS EXPENDITURES | $	260,478
Bond Payments | (239,994)
BALANCE | $	20,484
County Appraiser & Tax Collector Fee | (4,517)
Discounts For Early Payments | (18,067)
EXCESS/ (SHORTFALL) | $	(2,100)
Carryover From Prior Year | 2,100
NET EXCESS/ (SHORTFALL) | $	-

DETAILED PROPOSED BUDGET
CORONADO 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

Administrative Assessments | 88,269 | 86,329 | 84,111 | Expenditures Less Interest & Carryover/.95
Maintenance Assessments | 111,842 | 112,921 | 114,947 | Expenditures Less Contributions/.95
Debt Assessments | 252,625 | 252,625 | 252,625 | Bond Payments/.95
Master Association Contributions | 73,066 | 74,675 | 81,000 | Master Association Contributions - 50% Of Security
Other Revenues | 0 | 0 | 0 |
Interest | 429 | 360 | 360 | Projected At $30 Per Month
TOTAL REVENUES | $	526,231 | $	526,910 | $	533,043 |
EXPENDITURES | | | |
MAINTENANCE EXPENDITURES | | | |
Security Services | 146,132 | 149,350 | 162,000 | $12,650 Increase From 2021/2022 Budget
Aquatic Maintenance/Midgefly Control | 1,978 | 3,000 | 3,000 | No Change From 2021/2022 Budget
Fountain Maintenance/Power - FPL | 3,099 | 2,000 | 2,000 | No Change From 2021/2022 Budget
Storm Drainage Maintenance | 3,850 | 3,000 | 3,000 | No Change From 2021/2022 Budget
Engineering | 6,567 | 2,000 | 2,000 | No Change From 2021/2022 Budget
Roadway/Street Maintenance | 4,850 | 5,400 | 5,400 | No Change From 2021/2022 Budget
Soft Gates & Security Cameras Maintenance | 6,316 | 8,700 | 8,700 | No Change From 2021/2022 Budget
Security Camera Monitoring/Recording | 0 | 4,000 | 0 | Line Item Eliminated
Miscellaneous Maintenance | 10,010 | 4,500 | 4,100 | Miscellaneous Maintenance
TOTAL MAINTENANCE EXPENDITURES | $	182,802 | $	181,950 | $	190,200 |
ADMINISTRATIVE EXPENDITURES | | | |
Supervisor Fees | 2,200 | 7,000 | 7,000 | No Change From 2021/2022 Budget
Payroll Taxes | 168 | 535 | 535 | Supervisor Fees * 7.65%
Management | 36,084 | 36,588 | 37,680 | CPI Adjustment (Capped At 3%)
Field Operations Management | 2,100 | 2,100 | 2,100 | No Change From 2021/2022 Budget
Legal | 2,765 | 10,000 | 9,000 | $1,000 Decrease From 2021/2022 Budget
Assessment Roll | 3,000 | 3,000 | 3,000 | As Per Contract
Audit Fees | 3,500 | 3,600 | 3,700 | Accepted Amount For 2021/2022 Audit
Insurance | 5,513 | 7,200 | 7,200 | Insurance Estimate
Legal Advertisements | 638 | 1,500 | 1,400 | $100 Decrease From 2021/2022 Budget
Miscellaneous | 626 | 2,000 | 2,000 | No Change From 2021/2022 Budget
Postage | 140 | 475 | 425 | $50 Decrease From 2021/2022 Budget
Office Supplies | 382 | 750 | 700 | $50 Decrease From 2021/2022 Budget
Dues & Subscriptions | 175 | 175 | 175 | No Change From 2021/2022 Budget
Trustee Fee | 3,165 | 3,600 | 3,600 | No Change From 2021/2022 Budget
Continuing Disclosure Fee | 350 | 350 | 350 | No Change From 2021/2022 Budget
Website Management/ADA Compliance | 2,000 | 2,000 | 2,000 | No Change From 2021/2022 Budget
Operating Reserve | 0 | 1,500 | 1,500 | Operating Reserve
TOTAL ADMINISTRATIVE EXPENDITURES | $	62,806 | $	82,373 | $	82,365 |
TOTAL EXPENDITURES | $	245,608 | $	264,323 | $	272,565 |
REVENUES LESS EXPENDITURES | $	280,623 | $	262,587 | $	260,478 |
Bond Payments | (241,811) | (239,994) | (239,994) | 2023 P & I Payments Less Interest
BALANCE | $	38,812 | $	22,593 | $	20,484 |
County Appraiser & Tax Collector Fee | (4,377) | (4,518) | (4,517) | One Percent Of Total Assessment Roll
Discounts For Early Payments | (14,979) | (18,075) | (18,067) | Four Percent Of Total Assessment Roll
EXCESS/ (SHORTFALL) | $	19,456 | $	- | $	(2,100) |
Carryover From Prior Year | 0 | 0 | 2,100 | Carryover From Prior Year
NET EXCESS/ (SHORTFALL) | $	19,456 | $	- | $	- |

DETAILED FINAL DEBT SERVICE FUND BUDGET
CORONADO 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 | 13 | 25 | 25 | Projected Interest For 2022/2023
NAV Tax Collection | 241,811 | 239,994 | 239,994 | Maximum Debt Service Collection
Total Revenues | $	241,824 | $	240,019 | $	240,019 |
EXPENDITURES | | | |
Principal Payments | 122,000 | 126,000 | 129,000 | Principal Payments Due In 2023
Interest Payments | 118,821 | 113,886 | 110,219 | Interest Payments Due In 2023
Bond Redemption | 9,000 | 133 | 800 | Estimated Excess Debt Collections
Total Expenditures | $	249,821 | $	240,019 | $	240,019 |
Excess/ (Shortfall) | $	(7,998) | $	- | $	- |

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 1/1/2022 =

May 2038

$2,927,000

Coronado 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*

Administrative | $ | 251.30 | $ | 267.38 | $ | 264.01 | $ | 257.22
Maintenance | $ | 359.73 | $ | 342.03 | $ | 345.33 | $ | 351.53

Debt

$	772.56

$	772.56

$	772.56

$	772.56

Total	$

1,383.59	$

1,381.97	$

1,381.90	$

1,381.31

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

3/9/2022 4:55 PM	^IV

3/9/2022 4:55 PM