Bluewaters Community Development District

Final Budget For Fiscal Year 2020/2021
October 1, 2020 - September 30, 2021

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
BLUEWATERS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2020/2021 BUDGET	
ADMINISTRATIVE ASSESSMENTS	79,461	
MAINTENANCE ASSESSMENTS	119,170	
DEBT ASSESSMENTS	419,947	
OTHER REVENUES	0	
INTEREST INCOME	420	
		
TOTAL REVENUES	$	618,998	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
AQUATIC MAINTENANCE	6,000	
WHITE FLY PEST CONTROL	2,500	
LAWN & LANDSCAPE MAINTENANCE	48,000	
IRRIGATION SYSTEM MAINTENANCE	8,400	
ELECTRICITY FOR IRRIGATION SYSTEM & SIGNAGE	1,500	
COMMUNITY SIGN UPKEEP/DECORATIONS	2,400	
COMMUNITY JANITORIAL SERVICES	18,000	
PARKING ENFORCEMENT & TOWING EXPENSES	7,500	
MISCELLANEOUS SERVICES	6,000	
FIELD OPERATIONS	2,520	
ENGINEERING/INSPECTIONS/OTHER	2,000	
MAINTENANCE CONTINGENCY	7,200	
TOTAL MAINTENANCE EXPENDITURES	$	112,020	
		
ADMINISTRATIVE EXPENDITURES		
SUPERVISOR FEES	2,000	
PAYROLL TAXES (EMPLOYER)	153	
MANAGEMENT	30,120	
SECRETARIAL	4,200	
LEGAL	11,500	
LEGAL/OTHER	2,400	
ASSESSMENT ROLL	6,000	
AUDIT FEES	3,600	
ARBITRAGE REBATE FEE	650	
INSURANCE	7,200	
LEGAL ADVERTISING	675	
MISCELLANEOUS	2,820	
POSTAGE	525	
OFFICE SUPPLIES	675	
DUES & SUBSCRIPTIONS	175	
TRUSTEE FEES	4,500	
CONTINUING DISCLOSURE FEE	350	
WEBSITE MANAGEMENT	2,000	
ADMINISTRATIVE CONTINGENCY	1,000	
TOTAL ADMINISTRATIVE EXPENDITURES	$	80,543	
		
TOTAL EXPENDITURES	$	192,563	
		
REVENUES LESS EXPENDITURES	$	426,435	
		
BOND PAYMENTS	(394,750)	
		
BALANCE	$	31,685	
		
COUNTY APPRAISER & TAX COLLECTOR FEE	(12,372)	
DISCOUNTS FOR EARLY PAYMENTS	(24,743)	
		
EXCESS/ (SHORTFALL)	$	(5,430)	
		
CARRYOVER FROM PRIOR YEAR	5,430	
		
NET EXCESS/ (SHORTFALL)	$	-	

7/3/2020  2:45 PM	I

DETAILED FINAL BUDGET
BLUEWATERS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2018/2019 ACTUAL	
FISCAL YEAR 2019/2020 BUDGET	
FISCAL YEAR 2020/2021 BUDGET	

COMMENTS	
ADMINISTRATIVE ASSESSMENTS	85,296	81,527	79,461	Expenditures Less Interest & Carryover/.94	
MAINTENANCE ASSESSMENTS	114,468	117,149	119,170	Expenditures/.94	
DEBT ASSESSMENTS	419,947	419,947	419,947	Bond Payments/.94	
OTHER REVENUES	3,444	0	0		
INTEREST INCOME	893	420	420	Interest Projected At $35 Per Month	
					
TOTAL REVENUES	$	624,048	$	619,043	$	618,998		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
AQUATIC MAINTENANCE	3,413	6,000	6,000	No Change From 2019/2020 Budget	
WHITE FLY PEST CONTROL	1,200	2,500	2,500	No Change From 2019/2020 Budget	
LAWN & LANDSCAPE MAINTENANCE	45,376	48,000	48,000	No Change From 2019/2020 Budget	
IRRIGATION SYSTEM MAINTENANCE	5,145	8,400	8,400	No Change From 2019/2020 Budget	
ELECTRICITY FOR IRRIGATION SYSTEM & SIGNAGE	517	2,400	1,500	$900 Decrease From 2019/2020 Budget	
COMMUNITY SIGN UPKEEP/DECORATIONS	525	2,400	2,400	No Change From 2019/2020 Budget	
COMMUNITY JANITORIAL SERVICES	0	15,000	18,000	$3,000 Increase From 2019/2020 Budget	
PARKING ENFORCEMENT & TOWING EXPENSES	7,200	7,500	7,500	No Change From 2019/2020 Budget	
MISCELLANEOUS SERVICES	3,121	7,200	6,000	$1,200 Decrease From 2019/2020 Budget	
FIELD OPERATIONS	2,100	2,520	2,520	No Change From 2019/2020 Budget	
ENGINEERING/INSPECTIONS/OTHER	1,000	1,000	2,000	$1,000 Increase From 2019/2020 Budget	
MAINTENANCE CONTINGENCY	11,063	7,200	7,200	No Change From 2019/2020 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	80,660	$	110,120	$	112,020		
					
ADMINISTRATIVE EXPENDITURES					
SUPERVISOR FEES	1,750	2,000	2,000	No Change From 2019/2020 Budget	
PAYROLL TAXES (EMPLOYER)	142	153	153	Supervisor Fees * 7.65%	
MANAGEMENT	28,908	29,448	30,120	CPI Adjustment	
SECRETARIAL	4,200	4,200	4,200	No Change From 2019/2020 Budget	
LEGAL	7,584	11,500	11,500	No Change From 2019/2020 Budget	
LEGAL/OTHER	0	2,400	2,400	No Change From 2019/2020 Budget	
ASSESSMENT ROLL	6,000	6,000	6,000	As Per Contract	
AUDIT FEES	3,600	3,700	3,600	Accepted Amount For 2019/2020 Budget	
ARBITRAGE REBATE FEE	650	650	650	No Change From 2019/2020 Budget	
INSURANCE	5,750	7,500	7,200	Insurance Estimate	
LEGAL ADVERTISING	259	700	675	$25 Decrease From 2019/2020 Budget	
MISCELLANEOUS	1,209	2,820	2,820	No Change From 2019/2020 Budget	
POSTAGE	203	550	525	$25 Decrease From 2019/2020 Budget	
OFFICE SUPPLIES	353	700	675	$25 Decrease From 2019/2020 Budget	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2019/2020 Budget	
TRUSTEE FEES	4,500	4,500	4,500	No Change From 2019/2020 Budget	
CONTINUING DISCLOSURE FEE	350	350	350	No Change From 2019/2020 Budget	
WEBSITE MANAGEMENT	1,500	2,000	2,000	No Change From 2019/2020 Budget	
ADMINISTRATIVE CONTINGENCY	0	1,000	1,000	No Change From 2019/2020 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	67,133	$	80,346	$	80,543		
					
TOTAL EXPENDITURES	$	147,793	$	190,466	$	192,563		
					
REVENUES LESS EXPENDITURES	$	476,255	$	428,577	$	426,435		
					
BOND PAYMENTS	(400,720)	(394,750)	(394,750)	2021 P & I Payments Less Interest	
					
BALANCE	$	75,535	$	33,827	$	31,685		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(5,969)	(12,372)	(12,372)	Two Percent Of Total Assessment Roll	
DISCOUNTS FOR EARLY PAYMENTS	(22,364)	(24,745)	(24,743)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	47,202	$	(3,290)	$	(5,430)		
					
CARRYOVER FROM PRIOR YEAR	0	3,290	5,430	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	47,202	$	-	$	-		

7/3/2020 2:45 PM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET
BLUEWATERS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2018/2019 ACTUAL	FISCAL YEAR 2019/2020 BUDGET	FISCAL YEAR 2020/2021 BUDGET	

COMMENTS	

Interest Income	
9,807	
100	
200	
Projected Interest For 2020/2021	

NAV Tax Collection	
400,720	
394,750	
394,750	
Maximum Debt Service Collection	

Total Revenues	
$	410,527	
$	394,850	
$	394,950		

EXPENDITURES					

Principal Payments	
200,000	
205,000	
215,000	
Principal Payment Due In 2021	

Interest Payments	
147,135	
136,085	
127,415	
Interest Payments Due In 2021	

Mandatory Principal Redemption	
45,000	
53,765	
52,535	
Mandatory Principal Redemption	

Total Expenditures	
$	392,135	
$	394,850	
$	394,950		

Excess/ (Shortfall)	
$	18,392	
$	-	
$	-		

Series 2014 Bond Refunding Information
Original Par Amount =	$5,220,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	3.4% - 8.4%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	August 2014			
Maturity Date =

Par Amount As Of 1-1-2020 =	May 2035

$4,060,000			

7/3/2020 2:45 PM	III

Bluewaters Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2017/2018	2018/2019	2019/2020	2020/2021	
Assessment	Assessment	Assessment	Projected Assessment	
Before Discount*	Before Discount*	Before Discount*	Before Discount*	

Administrative	
$	174.88	
$	176.94	
$	171.28	
$	166.94	
Maintenance	$	242.58	$	240.48	$	246.12	$	250.36	
Debt	$	884.10	$	884.10	$	884.10	$	884.10	
Total	$	1,301.56	$	1,301.52	$	1,301.50	$	1,301.40	

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

Community Information:	

Total Units	476	
Prepayments	1	
Billed for Debt	475	

7/3/2020 2:45 PM	IV