Title: CRN Proposed Budget 2024-2025.xlsx
Author: JWalker

Coronado Community Development District

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

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

PROPOSED BUDGET
CORONADO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES

FISCAL YEAR 2024/2025
BUDGET

Administrative Assessments | 71,933
Maintenance Assessments | 127,053
Debt Assessments | 252,625
Master Association Contributions | 92,500
Other Revenues | 0
Interest | 720
TOTAL REVENUES | $	544,831
EXPENDITURES |
MAINTENANCE EXPENDITURES |
Security Services | 185,000
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
Miscellaneous Maintenance | 4,100
TOTAL MAINTENANCE EXPENDITURES | $	213,200
ADMINISTRATIVE EXPENDITURES |
Supervisor Fees | 6,000
Payroll Taxes | 459
Management | 39,972
Field Operations Management | 2,100
Legal | 9,000
Assessment Roll | 3,000
Audit Fees | 3,900
Insurance | 7,700
Legal Advertisements | 2,200
Miscellaneous | 1,800
Postage | 375
Office Supplies | 675
Dues & Subscriptions | 175
Trustee Fee | 3,500
Continuing Disclosure Fee | 350
Website Management/ADA Compliance | 2,000
Operating Reserve | 1,500
TOTAL ADMINISTRATIVE EXPENDITURES | $	84,706
TOTAL EXPENDITURES | $	297,906
REVENUES LESS EXPENDITURES | $	246,925
Bond Payments | (239,994)
BALANCE | $	6,931
County Appraiser & Tax Collector Fee | (4,516)
Discounts For Early Payments | (18,065)
EXCESS/ (SHORTFALL) | $	(15,650)
Carryover From Prior Year | 15,650
NET EXCESS/ (SHORTFALL) | $	-

3/13/2024 4:13 PM	^I

DETAILED PROPOSED BUDGET
CORONADO 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

Administrative Assessments | 85,087 | 81,461 | 71,933 | Expenditures Less Interest & Carryover/.95
Maintenance Assessments | 114,948 | 117,579 | 127,053 | Expenditures Less Contributions/.95
Debt Assessments | 252,627 | 252,625 | 252,625 | Bond Payments/.95
Master Association Contributions | 88,126 | 83,500 | 92,500 | Master Association Contributions - 50% Of Security
Other Revenues | 0 | 0 | 0 |
Interest | 14,244 | 480 | 720 | Projected At $60 Per Month
TOTAL REVENUES | $	555,032 | $	535,645 | $	544,831 |
EXPENDITURES | | | |
MAINTENANCE EXPENDITURES | | | |
Security Services | 176,252 | 167,000 | 185,000 | FY 23/24 Expenditure Through Feb 2024 Was $76,420
Aquatic Maintenance/Midgefly Control | 3,364 | 3,000 | 3,000 | No Change From 2023/2024 Budget
Fountain Maintenance/Power - FPL | 3,495 | 2,000 | 2,000 | No Change From 2023/2024 Budget
Storm Drainage Maintenance | 984 | 3,000 | 3,000 | No Change From 2023/2024 Budget
Engineering | 1,344 | 2,000 | 2,000 | No Change From 2023/2024 Budget
Roadway/Street Maintenance | 6,040 | 5,400 | 5,400 | No Change From 2023/2024 Budget
Soft Gates & Security Cameras Maintenance | 15,435 | 8,700 | 8,700 | No Change From 2023/2024 Budget
Miscellaneous Maintenance | 5,955 | 4,100 | 4,100 | No Change From 2023/2024 Budget
TOTAL MAINTENANCE EXPENDITURES | $	212,869 | $	195,200 | $	213,200 |
ADMINISTRATIVE EXPENDITURES | | | |
Supervisor Fees | 2,200 | 7,000 | 6,000 | Supervisor Fees
Payroll Taxes | 168 | 535 | 459 | Supervisor Fees * 7.65%
Management | 37,680 | 38,808 | 39,972 | CPI Adjustment (Capped At 3%)
Field Operations Management | 2,100 | 2,100 | 2,100 | No Change From 2023/2024 Budget
Legal | 3,099 | 9,000 | 9,000 | No Change From 2023/2024 Budget
Assessment Roll | 3,000 | 3,000 | 3,000 | As Per Contract
Audit Fees | 3,700 | 3,800 | 3,900 | $100 Increase From 2023/2024 Budget
Insurance | 6,768 | 7,200 | 7,700 | FY 23/24 Expenditure Was $7,195
Legal Advertisements | 389 | 1,400 | 2,200 | Costs Will Increase Due To Closing Of The Miami Business Review
Miscellaneous | 1,265 | 2,000 | 1,800 | $200 Decrease From 2023/2024 Budget
Postage | 123 | 400 | 375 | $25 Decrease From 2023/2024 Budget
Office Supplies | 326 | 700 | 675 | $25 Decrease From 2023/2024 Budget
Dues & Subscriptions | 175 | 175 | 175 | No Change From 2023/2024 Budget
Trustee Fee | 3,165 | 3,600 | 3,500 | $100 Decrease From 2023/2024 Budget
Continuing Disclosure Fee | 350 | 350 | 350 | No Change From 2023/2024 Budget
Website Management/ADA Compliance | 2,000 | 2,000 | 2,000 | No Change From 2023/2024 Budget
Operating Reserve | 0 | 1,500 | 1,500 | Operating Reserve
TOTAL ADMINISTRATIVE EXPENDITURES | $	66,508 | $	83,568 | $	84,706 |
TOTAL EXPENDITURES | $	279,377 | $	278,768 | $	297,906 |
REVENUES LESS EXPENDITURES | $	275,655 | $	256,877 | $	246,925 |
Bond Payments | (241,281) | (239,994) | (239,994) | 2025 P & I Payments Less Interest
BALANCE | $	34,374 | $	16,883 | $	6,931 |
County Appraiser & Tax Collector Fee | (4,363) | (4,517) | (4,516) | One Percent Of Total Assessment Roll
Discounts For Early Payments | (15,930) | (18,066) | (18,065) | Four Percent Of Total Assessment Roll
EXCESS/ (SHORTFALL) | $	14,081 | $	(5,700) | $	(15,650) |
Carryover From Prior Year | 0 | 5,700 | 15,650 | Carryover From Prior Year
NET EXCESS/ (SHORTFALL) | $	14,081 | $	- | $	- |

3/13/2024 4:13 PM	^II

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
CORONADO 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 | 7,938 | 100 | 400 | Projected Interest For 2024/2025
NAV Tax Collection | 241,281 | 239,994 | 239,994 | Maximum Debt Service Collection
Total Revenues | $	249,219 | $	240,094 | $	240,394 |
EXPENDITURES | | | |
Principal Payments | 129,000 | 133,000 | 138,000 | Principal Payments Due In 2025
Interest Payments | 112,154 | 106,123 | 101,546 | Interest Payments Due In 2025
Bond Redemption | 0 | 971 | 848 | Estimated Excess Debt Collections
Total Expenditures | $	241,154 | $	240,094 | $	240,394 |
Excess/ (Shortfall) | $	8,065 | $	- | $	- |

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 1/1/2024 =

May 2038

$2,672,000

3/13/2024 4:13 PM	^III

Coronado Community Development District Assessment Comparison

Fiscal Year 2021/2022
	Assessment*

Fiscal Year 2022/2023
	Assessment*

Fiscal Year 2023/2024
	Assessment*

Fiscal Year 2024/2025
	Projected Assessment*

Administrative | $ | 264.01 | $ | 257.22 | $ | 249.12 | $ | 219.98
Maintenance | $ | 345.33 | $ | 351.53 | $ | 359.57 | $ | 388.55
Debt | $	772.56 | $	772.56 | $	772.56 | $	772.56
Total | $	1,381.90 | $	1,381.31 | $	1,381.25 | $	1,381.09

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

3/13/2024 4:13 PM	^IV