Title: BW Final Budget 2023-2024.xlsx
Author: JWalker

Bluewaters Community Development District

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

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

FINAL 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 FINAL 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 FINAL 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

6/1/2023 7:32 AM	^IV

6/1/2023 7:32 AM