Bluewaters 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
BLUEWATERS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2021/2022 BUDGET	
ADMINISTRATIVE ASSESSMENTS	79,429	
MAINTENANCE ASSESSMENTS	119,170	
DEBT ASSESSMENTS	419,947	
OTHER REVENUES	0	
INTEREST INCOME	420	
		
TOTAL REVENUES	$	618,966	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
AQUATIC MAINTENANCE	6,000	
WHITE FLY PEST CONTROL	2,500	
LAWN & LANDSCAPE MAINTENANCE	52,000	
IRRIGATION SYSTEM MAINTENANCE	6,400	
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	5,200	
TOTAL MAINTENANCE EXPENDITURES	$	112,020	
		
ADMINISTRATIVE EXPENDITURES		
SUPERVISOR FEES	2,000	
PAYROLL TAXES (EMPLOYER)	153	
MANAGEMENT	30,540	
SECRETARIAL	4,200	
LEGAL	11,500	
LEGAL/OTHER	2,400	
ASSESSMENT ROLL	6,000	
AUDIT FEES	3,700	
ARBITRAGE REBATE FEE	650	
INSURANCE	6,800	
LEGAL ADVERTISING	675	
MISCELLANEOUS	2,820	
POSTAGE	500	
OFFICE SUPPLIES	650	
DUES & SUBSCRIPTIONS	175	
TRUSTEE FEES	4,500	
CONTINUING DISCLOSURE FEE	350	
WEBSITE MANAGEMENT	2,000	
ADMINISTRATIVE CONTINGENCY	1,000	
TOTAL ADMINISTRATIVE EXPENDITURES	$	80,613	
		
TOTAL EXPENDITURES	$	192,633	
		
REVENUES LESS EXPENDITURES	$	426,333	
		
BOND PAYMENTS	(394,750)	
		
BALANCE	$	31,583	
		
COUNTY APPRAISER & TAX COLLECTOR FEE	(12,371)	
DISCOUNTS FOR EARLY PAYMENTS	(24,742)	
		
EXCESS/ (SHORTFALL)	$	(5,530)	
		
CARRYOVER FROM PRIOR YEAR	5,530	
		
NET EXCESS/ (SHORTFALL)	$	-	

2/26/2021 9:42 AM	I

DETAILED PROPOSED BUDGET
BLUEWATERS 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	82,880	79,461	79,429	Expenditures Less Interest & Carryover/.94	
MAINTENANCE ASSESSMENTS	117,149	119,170	119,170	Expenditures/.94	
DEBT ASSESSMENTS	419,947	419,947	419,947	Bond Payments/.94	
OTHER REVENUES	198	0	0		
INTEREST INCOME	543	420	420	Interest Projected At $35 Per Month	
					
TOTAL REVENUES	$	620,717	$	618,998	$	618,966		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
AQUATIC MAINTENANCE	3,564	6,000	6,000	No Change From 2020/2021 Budget	
WHITE FLY PEST CONTROL	1,200	2,500	2,500	No Change From 2020/2021 Budget	
LAWN & LANDSCAPE MAINTENANCE	51,601	48,000	52,000	$4,000 Increase From 2020/2021 Budget	
IRRIGATION SYSTEM MAINTENANCE	842	8,400	6,400	$2,000 Decrease From 2020/2021 Budget	
ELECTRICITY FOR IRRIGATION SYSTEM & SIGNAGE	526	1,500	1,500	No Change From 2020/2021 Budget	
COMMUNITY SIGN UPKEEP/DECORATIONS	300	2,400	2,400	No Change From 2020/2021 Budget	
COMMUNITY JANITORIAL SERVICES	444	18,000	18,000	No Change From 2020/2021 Budget	
PARKING ENFORCEMENT & TOWING EXPENSES	7,200	7,500	7,500	No Change From 2020/2021 Budget	
MISCELLANEOUS SERVICES	1,400	6,000	6,000	No Change From 2020/2021 Budget	
FIELD OPERATIONS	2,520	2,520	2,520	No Change From 2020/2021 Budget	
ENGINEERING/INSPECTIONS/OTHER	995	2,000	2,000	No Change From 2020/2021 Budget	
MAINTENANCE CONTINGENCY	130	7,200	5,200	$2,000 Decrease From 2020/2021 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	70,722	$	112,020	$	112,020		
					
ADMINISTRATIVE EXPENDITURES					
SUPERVISOR FEES	2,125	2,000	2,000	No Change From 2020/2021 Budget	
PAYROLL TAXES (EMPLOYER)	163	153	153	Supervisor Fees * 7.65%	
MANAGEMENT	29,448	30,120	30,540	CPI Adjustment	
SECRETARIAL	4,200	4,200	4,200	No Change From 2020/2021 Budget	
LEGAL	7,765	11,500	11,500	No Change From 2020/2021 Budget	
LEGAL/OTHER	0	2,400	2,400	No Change From 2020/2021 Budget	
ASSESSMENT ROLL	6,000	6,000	6,000	As Per Contract	
AUDIT FEES	3,500	3,600	3,700	Accepted Amount For 2020/2021 Budget	
ARBITRAGE REBATE FEE	650	650	650	No Change From 2020/2021 Budget	
INSURANCE	5,894	7,200	6,800	Insurance Estimate	
LEGAL ADVERTISING	854	675	675	No Change From 2020/2021 Budget	
MISCELLANEOUS	1,416	2,820	2,820	No Change From 2020/2021 Budget	
POSTAGE	142	525	500	$25 Decrease From 2020/2021 Budget	
OFFICE SUPPLIES	282	675	650	$25 Decrease From 2020/2021 Budget	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2020/2021 Budget	
TRUSTEE FEES	4,500	4,500	4,500	No Change From 2020/2021 Budget	
CONTINUING DISCLOSURE FEE	350	350	350	No Change From 2020/2021 Budget	
WEBSITE MANAGEMENT	2,000	2,000	2,000	No Change From 2020/2021 Budget	
ADMINISTRATIVE CONTINGENCY	0	1,000	1,000	No Change From 2020/2021 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	69,464	$	80,543	$	80,613		
					
TOTAL EXPENDITURES	$	140,186	$	192,563	$	192,633		
					
REVENUES LESS EXPENDITURES	$	480,531	$	426,435	$	426,333		
					
BOND PAYMENTS	(400,832)	(394,750)	(394,750)	2022 P & I Payments Less Interest	
					
BALANCE	$	79,699	$	31,685	$	31,583		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(5,974)	(12,372)	(12,371)	Two Percent Of Total Assessment Roll	
DISCOUNTS FOR EARLY PAYMENTS	(22,198)	(24,743)	(24,742)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	51,527	$	(5,430)	$	(5,530)		
					
CARRYOVER FROM PRIOR YEAR	0	5,430	5,530	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	51,527	$	-	$	-		

2/26/2021 9:42 AM	II

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
BLUEWATERS 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	
3,886	
200	
25	
Projected Interest For 2021/2022	

NAV Tax Collection	
400,833	
394,750	
394,750	
Maximum Debt Service Collection	

Total Revenues	
$	404,719	
$	394,950	
$	394,775		

EXPENDITURES					

Principal Payments	
205,000	
215,000	
220,000	
Principal Payment Due In 2022	

Interest Payments	
138,805	
127,415	
118,490	
Interest Payments Due In 2022	

Mandatory Principal Redemption	
45,000	
52,535	
56,285	
Mandatory Principal Redemption	

Total Expenditures	
$	388,805	
$	394,950	
$	394,775		

Excess/ (Shortfall)	
$	15,914	
$	-	
$	-		

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 1-1-2021 =	May 2035

$3,810,000			

2/26/2021 9:42 AM	III

Bluewaters Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2018/2019	2019/2020	2020/2021	2021/2022	
Assessment	Assessment	Assessment	Projected Assessment	
Before Discount*	Before Discount*	Before Discount*	Before Discount*	

Administrative	
$	176.94	
$	171.28	
$	166.94	
$	166.87	
Maintenance	$	240.48	$	246.12	$	250.36	$	250.36	
Debt	$	884.10	$	884.10	$	884.10	$	884.10	
Total	$	1,301.52	$	1,301.50	$	1,301.40	$	1,301.33	

* 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	

2/26/2021 9:42 AM	IV