Veranda
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
VERANDA COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	
FISCAL YEAR 2023/2024 BUDGET	
O & M Assessments	86,787	
Debt Assessments	300,174	
Other Revenue - Stormwater Fees	0	
Interest Income	360	
		
TOTAL REVENUES	$	387,321	
		
EXPENDITURES		
Supervisor Fees	0	
Payroll Taxes - Employer	0	
Engineering/Inspections	1,750	
Management	38,808	
Legal	11,000	
Assessment Roll	5,000	
Audit Fees	3,900	
Insurance	7,200	
Legal Advertisements	1,300	
Miscellaneous	900	
Postage	225	
Office Supplies	550	
Dues & Subscriptions	175	
Trustee Fee	3,500	
Continuing Disclosure Fee	500	
Water Management/Drainage	0	
TOTAL EXPENDITURES	$	74,808	
		
REVENUES LESS EXPENDITURES	$	312,513	
		
Bond Payments	(282,164)	
		
BALANCE	$	30,349	
		
Tax Collector Fee	(7,587)	
Property Appraiser Fee	(7,587)	
Discounts For Early Payments	(15,175)	
		
EXCESS/ (SHORTFALL)	$	-	
		
Carryover Funds From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

Note: Stormwater Reserve Balance As Of 3/1/23 Was $157,221.

3/4/2023 1:16 PM	I

DETAILED PROPOSED BUDGET
VERANDA 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	
O & M Assessments	86,999	86,833	86,787	Expenditures Less Interest/Discounts & Fees	
Debt Assessments	300,174	300,174	300,174	Bond Payments/Discounts & Fees	
Other Revenue - Stormwater Fees	43,989	0	0		
Interest Income	321	240	360	Interest Projected At $30 Per Month	
					
TOTAL REVENUES	431,483	$	387,247	$	387,321		
					
EXPENDITURES					
Supervisor Fees	0	0	0		
Payroll Taxes - Employer	0	0	0		
Engineering/Inspections	0	1,750	1,750	No Change From 2022/2023 Budget	
Management	36,588	37,680	38,808	CPI Adjustment (Capped At 3%)	
Legal	966	12,500	11,000	$1,500 Decrease From 2022/2023 Budget	
Assessment Roll	5,000	5,000	5,000	As Per Contract	
Audit Fees	3,700	3,800	3,900	Accepted Amount For 2022/2023 Audit	
Insurance	6,249	6,600	7,200	FY 2022/2023 Expenditure Was $6,718	
Legal Advertisements	1,224	1,200	1,300	$100 Increase From 2022/2023 Budget	
Miscellaneous	121	1,200	900	$300 Decrease From 2022/2023 Budget	
Postage	87	225	225	No Change From 2022/2023 Budget	
Office Supplies	295	600	550	$50 Decrease From 2022/2023 Budget	
Dues & Subscriptions	175	175	175	No Change From 2022/2023 Budget	
Trustee Fee	3,500	3,500	3,500	No Change From 2022/2023 Budget	
Continuing Disclosure Fee	500	500	500	No Change From 2022/2023 Budget	
Water Management/Drainage	0	0	0		
TOTAL EXPENDITURES	58,405	$	74,730	$	74,808		
					
REVENUES LESS EXPENDITURES	373,078	$	312,517	$	312,513		
					
Bond Payments	(282,784)	(282,164)	(282,164)	2024 P & I Payments Less Earned Interest	
					
BALANCE	90,294	$	30,353	$	30,349		
					
Tax Collector Fee	(6,138)	(7,588)	(7,587)	Two Percent Of Total Assessment Roll	
Property Appraiser Fee	(7,742)	(7,588)	(7,587)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(14,988)	(15,177)	(15,175)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	61,426	$	-	$	-		
					
Carryover Funds From Prior Year	0	0	0	Carryover Funds From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	61,426	$	-	$	-		

Note: Stormwater Reserve Balance As Of 3/1/23 Was $157,221.

3/4/2023 1:16 PM	II

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
VERANDA 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	
1,597	
25	
100	
Projected Interest For 2023/2024	

NAV Tax Collection	
282,784	
282,164	
282,164	
Maximum Debt Service Collection	

Prepaid Bond Collection	
0	
0	
0		

Total Revenues	
$	284,381	
$	282,189	
$	282,264		

EXPENDITURES					

Principal Payments	
85,000	
90,000	
95,000	
Principal Payment Due In 2024	

Interest Payments	
195,688	
189,950	
185,900	
Interest Payments Due In 2024	

Bond Redemption	
0	
2,239	
1,364	
Estimated Excess Debt Collections	

Total Expenditures	
$	280,688	
$	282,189	
$	282,264		

Excess/ (Shortfall)	
$	3,693	
$	-	
$	-		

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 1/1/23 =	November 2045

$3,720,000		

3/4/2023 1:16 PM	III

VERANDA 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*		

O & M For Single Family 42' Unit		
$	230.34				
$	229.96				
$	229.72				
$	229.60		
Debt For Single Family 42' Unit		$	606.00				$	606.00				$	606.00				$	606.00		
Total For Single Family 42' Unit		$	836.34				$	835.96				$	835.72				$	835.60		
O & M For Single Family 52' Unit		$	230.34				$	229.96				$	229.72				$	229.60		
Debt For Single Family 52' Unit		$	779.00				$	779.00				$	779.00				$	779.00		
Total For Single Family 52' Unit		$	1,009.34				$	1,008.96				$	1,008.72				$	1,008.60		
O & M For Single Family 66' Unit		$	230.34				$	229.96				$	229.72				$	229.60		
Debt For Single Family 66' Unit		$	987.00				$	987.00				$	987.00				$	987.00		
Total For Single Family 66' Unit		$	1,217.34				$	1,216.96				$	1,216.72				$	1,216.60		

* 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

3/4/2023 1:16 PM	IV