Title: VillW Proposed Budget 2022-2023.xlsx
Author: JWalker

Village Walk Of Bonita Springs Community Development District

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

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

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

PROPOSED BUDGET
VILLAGE WALK OF BONITA SPRINGS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES | FISCAL YEAR 2022/2023 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 | 42,192
SECRETARIAL | 4,200
LEGAL | 10,000
ASSESSMENT ROLL | 10,000
AUDIT FEES | 3,800
ARBITRAGE REBATE FEE - SERIES 2015 | 650
ARBITRAGE REBATE FEE - SERIES 2018 | 650
INSURANCE | 6,750
LEGAL ADVERTISING | 2,200
MISCELLANEOUS | 1,000
POSTAGE | 525
OFFICE SUPPLIES | 725
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 | $	135,787
REVENUES LESS EXPENDITURES | $	963,068
BOND PAYMENTS - SERIES 2015 | (377,775)
BOND PAYMENTS - SERIES 2018 | (570,746)
BALANCE | $	14,547
COUNTY APPRAISER & TAX COLLECTOR ADMINISTRATIVE COSTS | (10,984)
DISCOUNTS FOR EARLY PAYMENTS | (43,940)
EXCESS/ (SHORTFALL) | $	(40,377)
CARRYOVER FROM PRIOR YEAR | 40,377
NET EXCESS/ (SHORTFALL) | $	-

Note: Projected Available Funds Balance As Of 9-30-22 is $155,000

DETAILED PROPOSED BUDGET
VILLAGE WALK OF BONITA SPRINGS 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 | 100,599 | 100,052 | 100,052 | Expenditures Less Interest & Carryover/.95
DEBT ASSESSMENTS - SERIES 2015 | 397,658 | 397,658 | 397,658 | Bond Payments/.95
DEBT ASSESSMENTS - SERIES 2018 | 600,785 | 600,785 | 600,785 | Bond Payments/.95
OTHER REVENUES | 0 | 0 | 0 |
INTEREST INCOME | 361 | 360 | 360 | Interest Projected At $30 Per Month
TOTAL REVENUES | $	1,099,403 | $	1,098,855 | $	1,098,855 |
EXPENDITURES | | | |
SUPERVISOR FEES | 1,200 | 4,000 | 4,000 | Supervisor Fees
PAYROLL TAXES | 92 | 320 | 320 | Projected At 8% Of Supervisor Fees
ENGINEERING/MAINTENANCE | 6,964 | 37,000 | 37,000 | Includes Street Testing
MANAGEMENT | 40,404 | 40,968 | 42,192 | CPI Adjustment (Capped At 3%)
SECRETARIAL | 4,200 | 4,200 | 4,200 | No Change From 2021/2022 Budget
LEGAL | 1,667 | 10,500 | 10,000 | FY 21/22 Expenditure Through Dec 2021 Was $412
ASSESSMENT ROLL | 10,000 | 10,000 | 10,000 | As Per Contract
AUDIT FEES | 3,600 | 3,700 | 3,800 | Accepted Amount For 2021/2022 Audit
ARBITRAGE REBATE FEE - SERIES 2015 | 650 | 650 | 650 | No Change From 2021/2022 Budget
ARBITRAGE REBATE FEE - SERIES 2018 | 650 | 650 | 650 | No Change From 2021/2022 Budget
INSURANCE | 5,789 | 6,500 | 6,750 | Insurance Estimate
LEGAL ADVERTISING | 2,737 | 2,000 | 2,200 | $200 Increase From 2021/2022 Budget
MISCELLANEOUS | 544 | 1,000 | 1,000 | No Change From 2021/2022 Budget
POSTAGE | 118 | 550 | 525 | $25 Decrease From 2021/2022 Budget
OFFICE SUPPLIES | 216 | 750 | 725 | $25 Decrease From 2021/2022 Budget
DUES & SUBSCRIPTIONS | 175 | 175 | 175 | No Change From 2021/2022 Budget
WEBSITE MANAGEMENT | 2,000 | 2,000 | 2,000 | No Change From 2021/2022 Budget
TRUSTEE FEES - SERIES 2015 | 4,327 | 4,700 | 4,700 | No Change From 2021/2022 Budget
TRUSTEE FEES - SERIES 2018 | 3,709 | 3,900 | 3,900 | No Change From 2021/2022 Budget
CONTINUING DISCLOSURE FEE | 1,000 | 1,000 | 1,000 | No Change From 2021/2022 Budget
TOTAL EXPENDITURES | $	90,042 | $	134,563 | $	135,787 |
REVENUES LESS EXPENDITURES | $	1,009,361 | $	964,292 | $	963,068 |
BOND PAYMENTS - SERIES 2015 | (381,088) | (377,775) | (377,775) | 2023 P& I Payments
BOND PAYMENTS - SERIES 2018 | (575,752) | (570,746) | (570,746) | 2023 P& I Payments
BALANCE | $	52,521 | $	15,771 | $	14,547 |
COUNTY APPRAISER & TAX COLLECTOR ADMINISTRATIVE COSTS | (3,272) | (10,984) | (10,984) | One Percent Of Total Assessment Roll
DISCOUNTS FOR EARLY PAYMENTS | (41,718) | (43,940) | (43,940) | Four Percent Of Total Assessment Roll
EXCESS/ (SHORTFALL) | $	7,531 | $	(39,153) | $	(40,377) |
CARRYOVER FROM PRIOR YEAR | 0 | 39,153 | 40,377 | Carryover From Prior Year
NET EXCESS/ (SHORTFALL) | $	7,531 | $	- | $	- |

Note: Projected Available Funds Balance As Of 9-30-22 is $155,000

DETAILED PROPOSED DEBT SERVICE (SERIES 2015) FUND BUDGET
VILLAGE WALK OF BONITA SPRINGS 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 | 19 | 25 | 25 | Projected Interest For 2022/2023
NAV Collection | 381,088 | 377,775 | 377,775 | Maximum Debt Service Collection
Total Revenues | $	381,107 | $	377,800 | $	377,800 |
EXPENDITURES | | | |
Principal Payments | 220,000 | 230,000 | 235,000 | Principal Payment Due In 2023
Interest Payments | 153,944 | 144,181 | 136,981 | Interest Payments Due In 2023
Bond Redemption | 15,000 | 3,619 | 5,819 | Estimated Excess Debt Collections
Total Expenditures | $	388,944 | $	377,800 | $	377,800 |
Excess/ (Shortfall) | $	(7,837) | $	- | $	- |

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 1/1/2022 = | $4,315,000 | |

DETAILED PROPOSED DEBT SERVICE (SERIES 2018) FUND BUDGET
VILLAGE WALK OF BONITA SPRINGS 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 | 18 | 100 | 25 | Projected Interest For 2022/2023
NAV Collection | 575,752 | 570,746 | 570,746 | Maximum Debt Service Collection
Total Revenues | $	575,770 | $	570,846 | $	570,771 |
EXPENDITURES | | | |
Principal Payments | 335,000 | 346,000 | 358,000 | Principal Payment Due In 2023
Interest Payments | 239,785 | 223,275 | 211,835 | Interest Payments Due In 2023
Bond Redemption | 0 | 1,571 | 936 | Estimated Excess Debt Collections
Total Expenditures | $	574,785 | $	570,846 | $	570,771 |
Excess/ (Shortfall) | $	985 | $	- | $	- |

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 1/1/2022 =

May 2037

$7,043,000

Village Walk Community Development District Assessment Comparison

| Fiscal Year | Fiscal Year | Fiscal Year | Fiscal Year
Lot | | 2019/2020 | 2020/2021 | 2021/2022 | 2022/2023
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

5/6/2022 10:27 AM