Veranda
Community Development District

Final Budget For Fiscal Year 2022/2023
October 1, 2022 - September 30, 2023

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
VERANDA COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2022/2023 BUDGET	
O & M Assessments	86,833	
Debt Assessments	300,174	
Other Revenue - Stormwater Fees	0	
Interest Income	240	
		
TOTAL REVENUES	$	387,247	
		
EXPENDITURES		
Supervisor Fees	0	
Payroll Taxes - Employer	0	
Engineering/Inspections	1,750	
Management	37,680	
Legal	12,500	
Assessment Roll	5,000	
Audit Fees	3,800	
Insurance	6,600	
Legal Advertisements	1,200	
Miscellaneous	1,200	
Postage	225	
Office Supplies	600	
Dues & Subscriptions	175	
Trustee Fee	3,500	
Continuing Disclosure Fee	500	
Water Management/Drainage	0	
TOTAL EXPENDITURES	$	74,730	
		
REVENUES LESS EXPENDITURES	$	312,517	
		
Bond Payments	(282,164)	
		
BALANCE	$	30,353	
		
Tax Collector Fee	(7,588)	
Property Appraiser Fee	(7,588)	
Discounts For Early Payments	(15,177)	
		
EXCESS/ (SHORTFALL)	$	-	
		
Carryover Funds From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

Note: Stormwater Reserve Balance As Of 6/1/22 Was $156,375.

DETAILED FINAL BUDGET
VERANDA COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2020/2021 ACTUAL	
FISCAL YEAR 2021/2022 BUDGET	
FISCAL YEAR 2022/2023 BUDGET	

COMMENTS	
O & M Assessments	87,078	86,923	86,833	Expenditures Less Interest/Discounts & Fees	
Debt Assessments	300,781	300,174	300,174	Bond Payments/Discounts & Fees	
Other Revenue - Stormwater Fees	42,582	0	0		
Interest Income	264	240	240	Interest Projected At $20 Per Month	
					
TOTAL REVENUES	430,705	$	387,337	$	387,247		
					
EXPENDITURES					
Supervisor Fees	0	0	0		
Payroll Taxes - Employer	0	0	0		
Engineering/Inspections	0	2,000	1,750	$250 Decrease From 2021/2022 Budget	
Management	36,084	36,588	37,680	CPI Adjustment (Capped At 3%)	
Legal	1,208	13,500	12,500	$1,000 Decrease From 2021/2022 Budget	
Assessment Roll	5,000	5,000	5,000	As Per Contract	
Audit Fees	3,600	3,700	3,800	Accepted Amount For 2021/2022 Audit	
Insurance	6,038	6,600	6,600	FY 2021/2022 Expenditure Was $6,249	
Legal Advertisements	927	1,200	1,200	No Change From 2021/2022 Budget	
Miscellaneous	246	1,200	1,200	No Change From 2021/2022 Budget	
Postage	78	225	225	No Change From 2021/2022 Budget	
Office Supplies	181	625	600	$25 Decrease From 2021/2022 Budget	
Dues & Subscriptions	175	175	175	No Change From 2021/2022 Budget	
Trustee Fee	3,500	3,500	3,500	No Change From 2021/2022 Budget	
Continuing Disclosure Fee	500	500	500	No Change From 2021/2022 Budget	
Water Management/Drainage	16,725	0	0	Fiscal Year 2020/2021 Expenditure	
TOTAL EXPENDITURES	74,262	$	74,813	$	74,730		
					
REVENUES LESS EXPENDITURES	356,443	$	312,524	$	312,517		
					
Bond Payments	(283,550)	(282,164)	(282,164)	2023 P & I Payments Less Earned Interest	
					
BALANCE	72,893	$	30,360	$	30,353		
					
Tax Collector Fee	(5,798)	(7,590)	(7,588)	Two Percent Of Total Assessment Roll	
Property Appraiser Fee	(7,757)	(7,590)	(7,588)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(14,759)	(15,180)	(15,177)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	44,579	$	-	$	-		
					
Carryover Funds From Prior Year	0	0	0	Carryover Funds From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	44,579	$	-	$	-		

Note: Stormwater Reserve Balance As Of 6/1/22 Was $156,375.

DETAILED FINAL DEBT SERVICE FUND BUDGET
VERANDA COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	

FISCAL YEAR

2020/2021

ACTUAL	

FISCAL YEAR

2021/2022

BUDGET	

FISCAL YEAR

2022/2023

BUDGET	

COMMENTS	

Interest Income	
34	
25	
25	
Projected Interest For 2022/2023	

NAV Tax Collection	
283,550	
282,164	
282,164	
Maximum Debt Service Collection	

Prepaid Bond Collection	
7,617	
0	
0		

Total Revenues	
$	291,201	
$	282,189	
$	282,189		

EXPENDITURES					

Principal Payments	
75,000	
85,000	
90,000	
Principal Payment Due In 2023	

Interest Payments	
199,363	
194,038	
189,950	
Interest Payments Due In 2023	

Bond Redemption	
5,000	
3,151	
2,239	
Estimated Excess Debt Collections	

Total Expenditures	
$	279,363	
$	282,189	
$	282,189		

Excess/ (Shortfall)	

$	11,838	

$	-	

$	-		

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 1/1/22 =	November 2045

$3,805,000			

VERANDA COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year 2018/2019		2019/2020		2020/2021		2021/2022		2022/2023
	Assessment*	 	Assessment*	 	Assessment*	   Assessment*   Projected Assessment* 

O & M For Single Family 42' Unit

$	234.32	$

232.62	$

230.34	$

229.96	$

229.72

Debt For Single Family 42' Unit	$	606.00	$	606.00	$	606.00	$	606.00	$	606.00	
Total For Single Family 42' Unit	$	840.32	$	838.62	$	836.34	$	835.96	$	835.72	
O & M For Single Family 52' Unit	$	234.32	$	232.62	$	230.34	$	229.96	$	229.72	
Debt For Single Family 52' Unit	$	779.00	$	779.00	$	779.00	$	779.00	$	779.00	
Total For Single Family 52' Unit	$	1,013.32	$	1,011.62	$	1,009.34	$	1,008.96	$	1,008.72	

O & M For Single Family 66' Unit	
$	234.32	
$	232.62	
$	230.34	
$	229.96	
$	229.72	
Debt For Single Family 66' Unit	$	987.00	$	987.00	$	987.00	$	987.00	$	987.00	
Total For Single Family 66' Unit	$	1,221.32	$	1,219.62	$	1,217.34	$	1,216.96	$	1,216.72	

* 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

6/2/2022 7:57 AM	IV