Century Park Place 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
CENTURY PARK PLACE COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2022/2023 BUDGET	
ADMINISTRATIVE ASSESSMENTS	72,630	
MAINTENANCE ASSESSMENTS	10,916	
DEBT ASSESSMENTS	123,590	
INTEREST INCOME	60	
		
TOTAL REVENUES	$	207,196	
		
EXPENDITURES		
MAINTENANCE/INFRASTRUCTURE IMPROVEMENTS		
ENGINEERING/INSPECTIONS	1,500	
MISCELLANEOUS MAINTENANCE	3,750	
PAVEMENT REPLACEMENT RESERVE	4,346	
INFRASTRUCTURE MAINTENANCE	665	
TOTAL MAINTENANCE/INFRASTRUCTURE IMPROVEMENTS	$	10,261	
		
ADMINISTRATIVE EXPENDITURES		
SUPERVISOR FEES	4,000	
PAYROLL TAXES	306	
MANAGEMENT	32,976	
LEGAL	9,000	
ASSESSMENT ROLL	6,750	
AUDIT FEES	3,500	
INSURANCE	5,900	
LEGAL ADVERTISING	775	
MISCELLANEOUS	775	
POSTAGE	200	
OFFICE SUPPLIES	325	
DUES & SUBSCRIPTIONS	175	
TRUSTEE FEES	3,300	
CONTINUING DISCLOSURE FEE	350	
		
TOTAL ADMINISTRATIVE EXPENDITURES	$	68,332	
		
TOTAL EXPENDITURES	$	78,593	
		
REVENUES LESS EXPENDITURES	$	128,603	
		
BOND PAYMENTS	(116,175)	
		
BALANCE	$	12,428	
		
COUNTY APPRAISER & TAX COLLECTOR FEE	(4,143)	
DISCOUNTS FOR EARLY PAYMENTS	(8,285)	
		
EXCESS/ (SHORTFALL)	$	-	
		
CARRYOVER FROM PRIOR YEAR	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED PROPOSED BUDGET
CENTURY PARK PLACE 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	67,523	71,795	72,630	Expenditures Less Interest & Carryover/.94	
MAINTENANCE ASSESSMENTS	16,203	11,767	10,916	Expenditures/.94	
DEBT ASSESSMENTS	123,613	123,590	123,590	Bond Payments/.94	
INTEREST INCOME	179	60	60	Interest Projected At $5 Per Month	
					
TOTAL REVENUES	$	207,518	$	207,212	$	207,196		
					
EXPENDITURES					
MAINTENANCE/INFRASTRUCTURE IMPROVEMENTS					
ENGINEERING/INSPECTIONS	7,050	1,500	1,500	No Change From 2021/2022 Budget	
MISCELLANEOUS MAINTENANCE	2,905	3,750	3,750	No Change From 2021/2022 Budget	
PAVEMENT REPLACEMENT RESERVE	0	2,936	4,346	Twenty Year Project (Second Year)	
INFRASTRUCTURE MAINTENANCE	0	2,875	665	$2,210 Decrease From 2021/2022 Budget	
TOTAL MAINTENANCE/INFRASTRUCTURE IMPROVEMENTS	$	9,955	$	11,061	$	10,261		
					
ADMINISTRATIVE EXPENDITURES					
SUPERVISOR FEES	400	4,000	4,000	Supervisor Fees	
PAYROLL TAXES	31	306	306	Supervisor Fees * 7.65%	
MANAGEMENT	31,584	32,016	32,976	CPI Adjustment (Capped At 3%)	
LEGAL	8,658	9,000	9,000	No Change From 2021/2022 Budget	
ASSESSMENT ROLL	6,750	6,750	6,750	As Per Contract	
AUDIT FEES	3,300	3,400	3,500	Increased by $100	
INSURANCE	5,513	5,800	5,900	Insurance Estimate	
LEGAL ADVERTISING	767	775	775	No Change From 2021/2022 Budget	
MISCELLANEOUS	407	1,050	775	$275 Decrease From 2021/2022 Budget	
POSTAGE	125	250	200	$50 Decrease From 2021/2022 Budget	
OFFICE SUPPLIES	255	375	325	$50 Decrease From 2021/2022 Budget	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2021/2022 Budget	
TRUSTEE FEES	3,179	3,300	3,300	No Change From 2021/2022 Budget	
CONTINUING DISCLOSURE FEE	350	350	350	No Change From 2021/2022 Budget	
					
TOTAL ADMINISTRATIVE EXPENDITURES	$	61,494	$	67,547	$	68,332		
					
TOTAL EXPENDITURES	$	71,449	$	78,608	$	78,593		
					
REVENUES LESS EXPENDITURES	$	136,069	$	128,604	$	128,603		
					
BOND PAYMENTS	(117,843)	(116,175)	(116,175)	2023 P & I Payments Less Earned Interest	
					
BALANCE	$	18,226	$	12,429	$	12,428		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(1,996)	(4,143)	(4,143)	Two Percent Of Total Assessment Roll	
DISCOUNTS FOR EARLY PAYMENTS	(7,677)	(8,286)	(8,285)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	8,553	$	-	$	-		
					
CARRYOVER FROM PRIOR YEAR	0	0	0	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	8,553	$	-	$	-		

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
CENTURY PARK PLACE 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	
7	
25	
25	
Projected Interest For 2022/2023	

NAV Tax Collection	
117,843	
116,175	
116,175	
Maximum Debt Service Collection	

Total Revenues	
$	117,850	
$	116,200	
$	116,200		

EXPENDITURES					

Principal Payments	
30,000	
35,000	
35,000	
Principal Payments Due In 2023	

Interest Payments	
81,025	
79,275	
78,050	
Interest Payments Due In 2023	

Bond Redemption	
0	
1,925	
3,150	
Estimated Excess Debt Collections	

Total Expenditures	
$	111,025	
$	116,200	
$	116,200		

Excess/ (Shortfall)	
$	6,825	
$	-	
$	-		

Series 2017 Bond Information
Original Par Amount =	$1,785,000	Annual Principal Payments Due =	November 1st	
Interest Rate =	3.50% - 5.00%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	July 2017			
Maturity Date =

Par Amount As Of 1/1/2022 =	November 2047

$1,660,000			

Century Park Place Community Development District Assessment Comparison

Original	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
Projected	2019/2020	2020/2021	2021/2022	2022/2023	
	Assessment*			Assessment*			Assessment*			Assessment*		  Projected Assessment* 	

Administrative	
$	638.29	
$	508.99	
$	514.25	
$	548.06	
$	
554.43	
Maintenance	$	-	$	128.96	$	123.69	$	89.83	$	83.33	
Debt	$	943.62	$	943.62	$	943.62	$	943.62	$	943.62	
Total	$	1,581.91	$	1,581.57	$	1,581.56	$	1,581.51	$	1,581.38	

* Assessments Include the Following :	 4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee
Community Information:	       Total Units131

3/1/2022 12:15 PM	IV