Bluewaters Community Development District

Proposed Budget For Fiscal Year 2023/2024
October 1, 2023 - September 30, 2024

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

PROPOSED BUDGET
BLUEWATERS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2023/2024 BUDGET	
ADMINISTRATIVE ASSESSMENTS	88,916	
MAINTENANCE ASSESSMENTS	109,574	
DEBT ASSESSMENTS	419,947	
OTHER REVENUES	0	
INTEREST INCOME	480	
TOTAL REVENUES	$	618,917	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
AQUATIC MAINTENANCE	6,000	
ANNUAL LANDSCAPE & IRRIGATION MAINT. SERVICES	58,000	
LANDSCAPING UPKEEP	15,000	
FPL - IRRIGATION	1,000	
ELECTRICITY FOR IRRIGATION SYSTEM & SIGNAGE	0	
IRRIGATION SYSTEM UPKEEP	5,000	
COMMUNITY JANITORIAL SERVICES	18,000	
PARKING ENFORCEMENT & TOWING EXPENSES	7,500	
FIELD OPERATIONS	2,520	
ENGINEERING/INSPECTIONS/OTHER	2,000	
STORM DRAIN CLEANING - TOWNHOMES	15,000	
MAINTENANCE CONTINGENCY	11,000	
TOTAL MAINTENANCE EXPENDITURES	$	141,020	
		
ADMINISTRATIVE EXPENDITURES		
SUPERVISOR FEES	2,000	
PAYROLL TAXES (EMPLOYER)	153	
MANAGEMENT	32,388	
SECRETARIAL	4,200	
LEGAL	11,500	
LEGAL/OTHER	2,400	
ASSESSMENT ROLL	6,000	
AUDIT FEES	3,900	
ARBITRAGE REBATE FEE	650	
INSURANCE	8,300	
LEGAL ADVERTISING	675	
MISCELLANEOUS	2,820	
POSTAGE	450	
OFFICE SUPPLIES	600	
DUES & SUBSCRIPTIONS	175	
TRUSTEE FEES	4,500	
CONTINUING DISCLOSURE FEE	350	
WEBSITE MANAGEMENT	2,000	
ADMINISTRATIVE CONTINGENCY	1,000	
TOTAL ADMINISTRATIVE EXPENDITURES	$	84,061	
		
TOTAL EXPENDITURES	$	225,081	
		
REVENUES LESS EXPENDITURES	$	393,836	
		
BOND PAYMENTS	(394,750)	
		
BALANCE	$	(914)	
		
COUNTY APPRAISER & TAX COLLECTOR FEE	(12,368)	
DISCOUNTS FOR EARLY PAYMENTS	(24,738)	
		
EXCESS/ (SHORTFALL)	$	(38,020)	
		
CARRYOVER FROM PRIOR YEAR	38,020	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED PROPOSED BUDGET
BLUEWATERS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2021/2022 ACTUAL	
FISCAL YEAR 2022/2023 BUDGET	
FISCAL YEAR 2023/2024 BUDGET	

COMMENTS	
ADMINISTRATIVE ASSESSMENTS	80,332	73,495	88,916	Expenditures Less Interest/.94	
MAINTENANCE ASSESSMENTS	119,469	125,021	109,574	Expenditures Less Carryover/.94	
DEBT ASSESSMENTS	420,759	419,947	419,947	Bond Payments/.94	
OTHER REVENUES	0	0	0		
INTEREST INCOME	615	420	480	Interest Projected At $40 Per Month	
TOTAL REVENUES	$	621,175	$	618,883	$	618,917		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
AQUATIC MAINTENANCE	3,781	6,000	6,000	No Change From 2022/2023 Budget	
ANNUAL LANDSCAPE & IRRIGATION MAINT. SERVICES	68,904	54,000	58,000	$4,000 Increase From 2022/2023 Budget	
LANDSCAPING UPKEEP	0	10,000	15,000	$5,000 Increase From 2022/2023 Budget	
FPL - IRRIGATION	477	5,000	1,000	$4,000 Decrease From 2022/2023 Budget	
ELECTRICITY FOR IRRIGATION SYSTEM & SIGNAGE	0	1,500	0	Line Item Eliminated	
IRRIGATION SYSTEM UPKEEP	0	0	5,000	Irrigation System Upkeep	
COMMUNITY JANITORIAL SERVICES	17,316	18,000	18,000	No Change From 2022/2023 Budget	
PARKING ENFORCEMENT & TOWING EXPENSES	7,200	7,500	7,500	No Change From 2022/2023 Budget	
FIELD OPERATIONS	2,520	2,520	2,520	No Change From 2022/2023 Budget	
ENGINEERING/INSPECTIONS/OTHER	1,975	2,000	2,000	No Change From 2022/2023 Budget	
STORM DRAIN CLEANING - TOWNHOMES	0	0	15,000	Storm Drain Cleaning - Townhomes	
MAINTENANCE CONTINGENCY	13,729	11,000	11,000	No Change From 2022/2023 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	115,902	$	117,520	$	141,020		
					
ADMINISTRATIVE EXPENDITURES					
SUPERVISOR FEES	1,625	2,000	2,000	No Change From 2022/2023 Budget	
PAYROLL TAXES (EMPLOYER)	124	153	153	Supervisor Fees * 7.65%	
MANAGEMENT	30,540	31,452	32,388	CPI Adjustment (Capped At 3%)	
SECRETARIAL	4,200	4,200	4,200	No Change From 2022/2023 Budget	
LEGAL	7,947	11,500	11,500	No Change From 2022/2023 Budget	
LEGAL/OTHER	0	2,400	2,400	No Change From 2022/2023 Budget	
ASSESSMENT ROLL	6,000	6,000	6,000	As Per Contract	
AUDIT FEES	3,700	3,800	3,900	Accepted Amount For 2022/2023 Audit	
ARBITRAGE REBATE FEE	650	650	650	No Change From 2022/2023 Budget	
INSURANCE	6,405	6,800	8,300	Fiscal Year 2022/2023 Expenditure Was $7,778	
LEGAL ADVERTISING	645	675	675	No Change From 2022/2023 Budget	
MISCELLANEOUS	2,077	2,820	2,820	No Change From 2022/2023 Budget	
POSTAGE	169	475	450	$25 Decrease From 2022/2023 Budget	
OFFICE SUPPLIES	348	625	600	$25 Decrease From 2022/2023 Budget	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2022/2023 Budget	
TRUSTEE FEES	4,500	4,500	4,500	No Change From 2022/2023 Budget	
CONTINUING DISCLOSURE FEE	350	350	350	No Change From 2022/2023 Budget	
WEBSITE MANAGEMENT	2,000	2,000	2,000	No Change From 2022/2023 Budget	
ADMINISTRATIVE CONTINGENCY	0	1,000	1,000	No Change From 2022/2023 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	71,455	$	81,575	$	84,061		
					
TOTAL EXPENDITURES	$	187,357	$	199,095	$	225,081		
					
REVENUES LESS EXPENDITURES	$	433,818	$	419,788	$	393,836		
					
BOND PAYMENTS	(401,004)	(394,750)	(394,750)	2024 P & I Payments Less Interest	
					
BALANCE	$	32,814	$	25,038	$	(914)		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(5,974)	(12,369)	(12,368)	Two Percent Of Total Assessment Roll	
DISCOUNTS FOR EARLY PAYMENTS	(23,150)	(24,739)	(24,738)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	3,690	$	(12,070)	$	(38,020)		
					
CARRYOVER FROM PRIOR YEAR	0	12,070	38,020	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	3,690	$	0	$	-		

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
BLUEWATERS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	FISCAL YEAR 2021/2022 ACTUAL	FISCAL YEAR 2022/2023 BUDGET	FISCAL YEAR 2023/2024 BUDGET	

COMMENTS	

Interest Income	
1,949	
25	
100	
Projected Interest For 2023/2024	

NAV Tax Collection	
401,004	
394,750	
394,750	
Maximum Debt Service Collection	

Total Revenues	
$	402,953	
$	394,775	
$	394,850		

EXPENDITURES					

Principal Payments	
220,000	
225,000	
235,000	
Principal Payment Due In 2024	

Interest Payments	
121,465	
109,395	
100,045	
Interest Payments Due In 2024	

Mandatory Principal Redemption	
45,000	
60,380	
59,805	
Mandatory Principal Redemption	

Total Expenditures	
$	386,465	
$	394,775	
$	394,850		

Excess/ (Shortfall)	
$	16,488	
$	-	
$	-		

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 1-1-2023 =	May 2035

$3,285,000			

Bluewaters Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2020/2021	2021/2022	2022/2023	2023/2024	
Assessment	Assessment	Assessment	Projected Assessment	
Before Discount*	Before Discount*	Before Discount*	Before Discount*	

Administrative	
$	166.94	
$	166.87	
$	154.41	
$	186.80	
Maintenance	$	250.36	$	250.36	$	262.65	$	230.20	
Debt	$	884.10	$	884.10	$	884.10	$	884.10	
Total	$	1,301.40	$	1,301.33	$	1,301.16	$	1,301.10	

* 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	

3/6/2023 11:15 AM	IV