Title: VillW Final Budget 2021-2022.xlsx
Author: JWalker

Village Walk Of Bonita Springs Community Development District

Final Budget For Fiscal Year 2021/2022
October 1, 2021 - September 30, 2022

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2015) IV         DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2018) V ASSESSMENT COMPARISON

FINAL BUDGET
VILLAGE WALK OF BONITA SPRINGS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES | FISCAL YEAR 2021/2022 BUDGET
O & M ASSESSMENTS | 100,052
DEBT ASSESSMENTS - SERIES 2015 | 397,658
DEBT ASSESSMENTS - SERIES 2018 | 600,785
OTHER REVENUES | 0
INTEREST INCOME | 360
TOTAL REVENUES | $	1,098,855
EXPENDITURES |
SUPERVISOR FEES | 4,000
PAYROLL TAXES | 320
ENGINEERING/MAINTENANCE | 37,000
MANAGEMENT | 40,968
SECRETARIAL | 4,200
LEGAL | 10,500
ASSESSMENT ROLL | 10,000
AUDIT FEES | 3,700
ARBITRAGE REBATE FEE - SERIES 2015 | 650
ARBITRAGE REBATE FEE - SERIES 2018 | 650
INSURANCE | 6,500
LEGAL ADVERTISING | 2,000
MISCELLANEOUS | 1,000
POSTAGE | 550
OFFICE SUPPLIES | 750
DUES & SUBSCRIPTIONS | 175
WEBSITE MANAGEMENT | 2,000
TRUSTEE FEES - SERIES 2015 | 4,700
TRUSTEE FEES - SERIES 2018 | 3,900
CONTINUING DISCLOSURE FEE | 1,000
TOTAL EXPENDITURES | $	134,563
REVENUES LESS EXPENDITURES | $	964,292
BOND PAYMENTS - SERIES 2015 | (377,775)
BOND PAYMENTS - SERIES 2018 | (570,746)
BALANCE | $	15,771
COUNTY APPRAISER & TAX COLLECTOR ADMINISTRATIVE COSTS | (10,984)
DISCOUNTS FOR EARLY PAYMENTS | (43,940)
EXCESS/ (SHORTFALL) | $	(39,153)
CARRYOVER FROM PRIOR YEAR | 39,153
NET EXCESS/ (SHORTFALL) | $	-

Note: Projected Available Funds Balance As Of 9-30-21 is $145,000

DETAILED FINAL BUDGET
VILLAGE WALK OF BONITA SPRINGS 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 | 101,115 | 100,052 | 100,052 | Expenditures Less Interest & Carryover/.95
DEBT ASSESSMENTS - SERIES 2015 | 397,681 | 397,658 | 397,658 | Bond Payments/.95
DEBT ASSESSMENTS - SERIES 2018 | 600,805 | 600,785 | 600,785 | Bond Payments/.95
OTHER REVENUES | 0 | 0 | 0 |
INTEREST INCOME | 333 | 360 | 360 | Interest Projected At $30 Per Month
TOTAL REVENUES | $	1,099,934 | $	1,098,855 | $	1,098,855 |
EXPENDITURES | | | |
SUPERVISOR FEES | 1,800 | 4,000 | 4,000 | Supervisor Fees
PAYROLL TAXES | 138 | 320 | 320 | Projected At 8% Of Supervisor Fees
ENGINEERING/MAINTENANCE | 11,048 | 37,000 | 37,000 | Includes Street Testing
MANAGEMENT | 39,504 | 40,404 | 40,968 | CPI Adjustment
SECRETARIAL | 4,200 | 4,200 | 4,200 | No Change From 2020/2021 Budget
LEGAL | 4,364 | 11,000 | 10,500 | FY 20/21 Expenditure Through Jan 2021 Was $544
ASSESSMENT ROLL | 10,000 | 10,000 | 10,000 | As Per Contract
AUDIT FEES | 3,600 | 3,700 | 3,700 | No Change From 2020/2021 Budget
ARBITRAGE REBATE FEE - SERIES 2015 | 650 | 650 | 650 | No Change From 2020/2021 Budget
ARBITRAGE REBATE FEE - SERIES 2018 | 650 | 650 | 650 | No Change From 2020/2021 Budget
INSURANCE | 5,513 | 6,650 | 6,500 | Insurance Estimate
LEGAL ADVERTISING | 2,951 | 1,600 | 2,000 | $400 Increase From 2020/2021 Budget
MISCELLANEOUS | 785 | 1,000 | 1,000 | No Change From 2020/2021 Budget
POSTAGE | 126 | 575 | 550 | $25 Decrease From 2020/2021 Budget
OFFICE SUPPLIES | 387 | 775 | 750 | $25 Decrease From 2020/2021 Budget
DUES & SUBSCRIPTIONS | 175 | 175 | 175 | No Change From 2020/2021 Budget
WEBSITE MANAGEMENT | 2,000 | 2,000 | 2,000 | No Change From 2020/2021 Budget
TRUSTEE FEES - SERIES 2015 | 4,327 | 4,775 | 4,700 | $75 Decrease From 2020/2021 Budget
TRUSTEE FEES - SERIES 2018 | 3,709 | 3,900 | 3,900 | No Change From 2020/2021 Budget
CONTINUING DISCLOSURE FEE | 1,000 | 1,000 | 1,000 | No Change From 2020/2021 Budget
TOTAL EXPENDITURES | $	96,927 | $	134,374 | $	134,563 |
REVENUES LESS EXPENDITURES | $	1,003,007 | $	964,481 | $	964,292 |
BOND PAYMENTS - SERIES 2015 | (381,179) | (377,775) | (377,775) | 2022 P& I Payments
BOND PAYMENTS - SERIES 2018 | (575,875) | (570,746) | (570,746) | 2022 P& I Payments
BALANCE | $	45,953 | $	15,960 | $	15,771 |
COUNTY APPRAISER & TAX COLLECTOR ADMINISTRATIVE COSTS | (3,259) | (10,984) | (10,984) | One Percent Of Total Assessment Roll
DISCOUNTS FOR EARLY PAYMENTS | (41,531) | (43,940) | (43,940) | Four Percent Of Total Assessment Roll
EXCESS/ (SHORTFALL) | $	1,163 | $	(38,964) | $	(39,153) |
CARRYOVER FROM PRIOR YEAR | 0 | 38,964 | 39,153 | Carryover From Prior Year
NET EXCESS/ (SHORTFALL) | $	1,163 | $	- | $	- |

Note: Projected Available Funds Balance As Of 9-30-21 is $145,000

DETAILED FINAL DEBT SERVICE (SERIES 2015) FUND BUDGET
VILLAGE WALK OF BONITA SPRINGS 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 | 2,251 | 100 | 25 | Projected Interest For 2021/2022
NAV Collection | 381,179 | 377,775 | 377,775 | Maximum Debt Service Collection
Total Revenues | $	383,430 | $	377,875 | $	377,800 |
EXPENDITURES | | | |
Principal Payments | 215,000 | 225,000 | 230,000 | Principal Payment Due In 2022
Interest Payments | 160,331 | 151,044 | 144,181 | Interest Payments Due In 2022
Bond Redemption | 15,000 | 1,831 | 3,619 | Estimated Excess Debt Collections
Total Expenditures | $	390,331 | $	377,875 | $	377,800 |
Excess/ (Shortfall) | $	(6,901) | $	- | $	- |

Series 2015 Bond Refunding Information
Original Par Amount = | $5,625,000 | Annual Principal Payments Due = | May 1st

Interest Rate =
Issue Date =

2.00% - 3.625%
January 2015

Annual Interest Payments Due =

May 1st & November 1st

Maturity Date = | May 2036 | |
Par Amount As Of 1/1/2021 = | $4,550,000 | |

DETAILED FINAL DEBT SERVICE (SERIES 2018) FUND BUDGET
VILLAGE WALK OF BONITA SPRINGS 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 | 1,932 | 100 | 100 | Projected Interest For 2021/2022
NAV Collection | 575,874 | 570,746 | 570,746 | Maximum Debt Service Collection
Total Revenues | $	577,806 | $	570,846 | $	570,846 |
EXPENDITURES | | | |
Principal Payments | 325,000 | 335,000 | 346,000 | Principal Payment Due In 2022
Interest Payments | 250,348 | 234,341 | 223,275 | Interest Payments Due In 2022
Bond Redemption | 0 | 1,505 | 1,571 | Estimated Excess Debt Collections
Total Expenditures | $	575,348 | $	570,846 | $	570,846 |
Excess/ (Shortfall) | $	2,458 | $	- | $	- |

Series 2018 Bond Refunding Information
Original Par Amount = | $8,382,000 | Annual Principal Payments Due = | May 1st
Interest Rate = | 3.25% - 5.15% | Annual Interest Payments Due = | May 1st & November 1st
Issue Date = | January 2018 | |

Maturity Date =

Par Amount As Of 1/1/2021 =

May 2037

$7,378,000

Village Walk Community Development District Assessment Comparison

| Fiscal Year | Fiscal Year | Fiscal Year | Fiscal Year
Lot | | 2018/2019 | 2019/2020 | 2020/2021 | 2021/2022
Size | | Assessment* | Assessment* | Assessment* | Projected Assessment*
Phases I & 2 | | | | |
Townhome 26' | O & M | $	60.46 | $	60.46 | $	60.46 | $	60.46
Cayman | Debt | $	494.57 | $	494.57 | $	494.57 | $	494.57
| Total | $ | 555.03 | $ | 555.03 | $ | 555.03 | $ | 555.03
Duplex 36' | O & M | $ | 60.46 | $ | 60.46 | $ | 60.46 | $ | 60.46
Capri | Debt | $	494.57 | $	494.57 | $	494.57 | $	494.57
| Total | $ | 555.03 | $ | 555.03 | $ | 555.03 | $ | 555.03
Single Family 50' | O & M | $ | 60.46 | $ | 60.46 | $ | 60.46 | $ | 60.46
Oakmont | Debt | $	581.92 | $	581.92 | $	581.92 | $	581.92
| Total | $ | 642.38 | $ | 642.38 | $ | 642.38 | $ | 642.38
Single Family 60' | O & M | $ | 60.46 | $ | 60.46 | $ | 60.46 | $ | 60.46
Carlyle | Debt | $	669.25 | $	669.25 | $	669.25 | $	669.25
| Total | $ | 729.71 | $ | 729.71 | $ | 729.71 | $ | 729.71
Phases 3 & 4 | | | | | | | | |
Townhome 26' | O & M | $ | 60.46 | $ | 60.46 | $ | 60.46 | $ | 60.46
Cayman | Debt | $	600.00 | $	541.00 | $	541.00 | $	541.00
| Total | $ | 660.46 | $ | 601.46 | $ | 601.46 | $ | 601.46
Duplex 36' | O & M | $ | 60.46 | $ | 60.46 | $ | 60.46 | $ | 60.46
Capri | Debt | $	600.00 | $	541.00 | $	541.00 | $	541.00
| Total | $ | 660.46 | $ | 601.46 | $ | 601.46 | $ | 601.46
Single Family 40' | O & M | $ | 60.46 | $ | 60.46 | $ | 60.46 | $ | 60.46
Garden | Debt | $	680.00 | $	611.00 | $	611.00 | $	611.00
| Total | $ | 740.46 | $ | 671.46 | $ | 671.46 | $ | 671.46
Single Family 50' | O & M | $ | 60.46 | $ | 60.46 | $ | 60.46 | $ | 60.46
Oakmont | Debt | $	706.00 | $	636.00 | $	636.00 | $	636.00
| Total | $ | 766.46 | $ | 696.46 | $ | 696.46 | $ | 696.46
Single Family 50' | O & M | $ | 60.46 | $ | 60.46 | $ | 60.46 | $ | 60.46
Classic | Debt | $	796.00 | $	719.00 | $	719.00 | $	719.00
| Total | $ | 856.46 | $ | 779.46 | $ | 779.46 | $ | 779.46
Single Family 60' | O & M | $ | 60.46 | $ | 60.46 | $ | 60.46 | $ | 60.46
Carlyle | Debt | $	812.00 | $	732.00 | $	732.00 | $	732.00
| Total | $ | 872.46 | $ | 792.46 | $ | 792.46 | $ | 792.46
Single Family 65' | O & M | $ | 60.46 | $ | 60.46 | $ | 60.46 | $ | 60.46
Estate | Debt | $	912.00 | $	821.00 | $	821.00 | $	821.00
| Total | $	972.46 | $	881.46 | $	881.46 | $	881.46

* Assessments Include the Following :	
4% Discount for Early Payments
1% County Tax Collector Costs/Property Appraiser Costs

Community Information:	

Phase I
 	No. of Units

Type

Name

Maximum Annual
 	Debt Assessment

Bond Prepayments

126 | Townhome | Cayman | $	494.57 | 1
356 | Duplex | Capri/Carrington | $	494.57 | 4
195 | SF | Oakmont | $	581.92 | 1
73 | SF | Carlyle | $	669.25 | 0
750 | | | | 6

Phase II
 	No. of Units

Type

Name

Maximum Annual
 	Debt Assessment

Bond Prepayments

Lot
 	Differential Prepayment*

112 | Townhouse | Cayman | $	541 | 0 | 0
76 | Duplex | Capri/Carrington | $	541 | 0 | 0
307 | SF | Garden | $	611 | 0 | (133)
127 | SF | Oakmont | $	636 | 0 | (10)
215 | SF | Classic | $	719 | 0 | 64
33 | SF | Carlyle | $	732 | 0 | 0
74 | SF | Estate | $	821 | 0 | 40
944 | | | | 0 | -39

* Developer made Bond Prepayment in November 2015 for 39 lot differential (143 Units replaced with 104 Units)
Phase 1	750
 	Phase 2	905	
Total Units	1655

6/25/2021 1:40 PM