Veranda
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
VERANDA COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2021/2022 BUDGET	
O & M Assessments	86,923	
Debt Assessments	300,174	
Other Revenue - Stormwater Fees	0	
Interest Income	240	
		
TOTAL REVENUES	$	387,337	
		
EXPENDITURES		
Supervisor Fees	0	
Payroll Taxes - Employer	0	
Engineering/Inspections	2,000	
Management	36,588	
Legal	13,500	
Assessment Roll	5,000	
Audit Fees	3,700	
Insurance	6,600	
Legal Advertisements	1,200	
Miscellaneous	1,200	
Postage	225	
Office Supplies	625	
Dues & Subscriptions	175	
Trustee Fee	3,500	
Continuing Disclosure Fee	500	
Water Management/Drainage	0	
Lake Maintenance	0	
TOTAL EXPENDITURES	$	74,813	
		
REVENUES LESS EXPENDITURES	$	312,524	
		
Bond Payments	(282,164)	
		
BALANCE	$	30,360	
		
Tax Collector Fee	(7,590)	
Property Appraiser Fee	(7,590)	
Discounts For Early Payments	(15,180)	
		
EXCESS/ (SHORTFALL)	$	-	
		
Carryover Funds From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

Note: Stormwater Reserve Balance As Of 3/1/21 Was $87,375.

DETAILED PROPOSED BUDGET
VERANDA 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	
O & M Assessments	88,110	87,067	86,923	Expenditures Less Interest/Discounts & Fees	
Debt Assessments	298,570	300,781	300,174	Bond Payments/Discounts & Fees	
Other Revenue - Stormwater Fees	41,062	0	0		
Interest Income	310	240	240	Interest Projected At $20 Per Month	
					
TOTAL REVENUES	428,052	$	388,088	$	387,337		
					
EXPENDITURES					
Supervisor Fees	0	0	0		
Payroll Taxes - Employer	0	0	0		
Engineering/Inspections	1,155	2,000	2,000	No Change From 2020/2021 Budget	
Management	35,280	36,084	36,588	CPI Adjustment	
Legal	6,679	13,500	13,500	No Change From 2020/2021 Budget	
Assessment Roll	5,000	5,000	5,000	As Per Contract	
Audit Fees	3,600	3,700	3,700	No Change From 2020/2021 Budget	
Insurance	5,750	6,600	6,600	Insurance Estimate	
Legal Advertisements	1,256	1,200	1,200	No Change From 2020/2021 Budget	
Miscellaneous	260	1,300	1,200	$100 Decrease From 2020/2021 Budget	
Postage	105	225	225	No Change From 2020/2021 Budget	
Office Supplies	364	650	625	$25 Decrease From 2020/2021 Budget	
Dues & Subscriptions	175	175	175	No Change From 2020/2021 Budget	
Trustee Fee	3,500	3,500	3,500	No Change From 2020/2021 Budget	
Continuing Disclosure Fee	1,000	1,000	500	$500 Decrease From 2020/2021 Budget	
Water Management/Drainage	85,619	0	0		
Lake Maintenance	10,290	0	0		
TOTAL EXPENDITURES	160,033	$	74,934	$	74,813		
					
REVENUES LESS EXPENDITURES	268,019	$	313,154	$	312,524		
					
Bond Payments	(283,869)	(282,734)	(282,164)	2022 P & I Payments Less Earned Interest	
					
BALANCE	(15,850)	$	30,420	$	30,360		
					
Tax Collector Fee	(3,744)	(7,605)	(7,590)	Two Percent Of Total Assessment Roll	
Property Appraiser Fee	(7,774)	(7,605)	(7,590)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(14,375)	(15,210)	(15,180)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	(41,743)	$	-	$	-		
					
Carryover Funds From Prior Year	0	0	0	Carryover Funds From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	(41,743)	$	-	$	-		

Note: Stormwater Reserve Balance As Of 3/1/21 Was $87,375.

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
VERANDA 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	
2,697	
200	
25	
Projected Interest For 2021/2022	

NAV Tax Collection	
283,869	
282,734	
282,164	
Maximum Debt Service Collection	

Prepaid Bond Collection	
0	
0	
0		

Total Revenues	
$	286,566	
$	282,934	
$	282,189		

EXPENDITURES					

Principal Payments	
75,000	
85,000	
85,000	
Principal Payment Due In 2022	

Interest Payments	
202,831	
197,563	
194,038	
Interest Payments Due In 2022	

Bond Redemption	
20,000	
371	
3,151	
Estimated Excess Debt Collections	

Total Expenditures	
$	297,831	
$	282,934	
$	282,189		

Excess/ (Shortfall)	

$	(11,265)	

$	-	

$	-		

Series 2015 Bond Information

Original Par Amount =	$4,270,000	Annual Principal Payments Due =	November 1st	
Interest Rate =	4.00% - 5.25%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	September 2015			
Maturity Date =

Par Amount As Of 1/1/21 =	November 2045

$3,895,000			

VERANDA COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year 2017/2018		2018/2019		2019/2020		2020/2021		2021/2022
 	Assessment*	     	Assessment*	     	Assessment*	Assessment*     Projected Assessment* 

O & M For Single Family 42' Unit

$	236.47	$

234.32	$

232.62	$

230.34	$

229.96

Debt For Single Family 42' Unit	$	606.00	$	606.00	$	606.00	$	606.00	$	606.00	
Total For Single Family 42' Unit	$	842.47	$	840.32	$	838.62	$	836.34	$	835.96	
O & M For Single Family 52' Unit	$	236.47	$	234.32	$	232.62	$	230.34	$	229.96	
Debt For Single Family 52' Unit	$	779.00	$	779.00	$	779.00	$	779.00	$	779.00	
Total For Single Family 52' Unit	$	1,015.47	$	1,013.32	$	1,011.62	$	1,009.34	$	1,008.96	
O & M For Single Family 66' Unit	$	236.47	$	234.32	$	232.62	$	230.34	$	229.96	
Debt For Single Family 66' Unit	$	987.00	$	987.00	$	987.00	$	987.00	$	987.00	
Total For Single Family 66' Unit	$	1,223.47	$	1,221.32	$	1,219.62	$	1,217.34	$	1,216.96	

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

Community Information:
Single Family 42' Units: 69
Single Family 52' Units: 210 Single Family 66' Units: 99 Total:	378 Units

Single Family 42' Information:
Total Units: 69
Prepayments: 1 Billed For Debt: 68

Single Family 52' Information:
Total Units: 210
Prepayments: 3 Billed For Debt: 207

2/26/2021 10:18 AM	IV