Title: VillW Proposed Budget 2023-2024.xlsx
Author: JWalker

Village Walk Of Bonita Springs 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 (SERIES 2015)

DETAILED PROPOSED DEBT SERVICE FUND BUDGET (SERIES 2018)

ASSESSMENT COMPARISON

PROPOSED BUDGET
VILLAGE WALK OF BONITA SPRINGS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES

FISCAL YEAR 2023/2024
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 | 35,000
MANAGEMENT | 43,452
SECRETARIAL | 4,200
LEGAL | 9,500
ASSESSMENT ROLL | 10,000
AUDIT FEES | 3,900
ARBITRAGE REBATE FEE - SERIES 2015 | 650
ARBITRAGE REBATE FEE - SERIES 2018 | 650
INSURANCE | 7,300
LEGAL ADVERTISING | 2,200
MISCELLANEOUS | 1,000
POSTAGE | 500
OFFICE SUPPLIES | 700
DUES & SUBSCRIPTIONS | 175
WEBSITE MANAGEMENT | 2,000
TRUSTEE FEES - SERIES 2015 | 4,600
TRUSTEE FEES - SERIES 2018 | 3,900
CONTINUING DISCLOSURE FEE | 1,000
TOTAL EXPENDITURES | $	135,047
REVENUES LESS EXPENDITURES | $	963,808
BOND PAYMENTS - SERIES 2015 | (377,775)
BOND PAYMENTS - SERIES 2018 | (570,746)
BALANCE | $	15,287
COUNTY APPRAISER & TAX COLLECTOR ADMINISTRATIVE COSTS | (10,984)
DISCOUNTS FOR EARLY PAYMENTS | (43,940)
EXCESS/ (SHORTFALL) | $	(39,637)
CARRYOVER FROM PRIOR YEAR | 39,637
NET EXCESS/ (SHORTFALL) | $	-

Note: Projected Available Funds Balance As Of 9-30-23 is $160,000

DETAILED PROPOSED BUDGET
VILLAGE WALK OF BONITA SPRINGS 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 | 100,628 | 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 | 347 | 360 | 360 | Interest Projected At $30 Per Month
TOTAL REVENUES | $	1,099,418 | $	1,098,855 | $	1,098,855 |
EXPENDITURES | | | |
SUPERVISOR FEES | 1,000 | 4,000 | 4,000 | Supervisor Fees
PAYROLL TAXES | 76 | 320 | 320 | Projected At 8% Of Supervisor Fees
ENGINEERING/MAINTENANCE | 684 | 37,000 | 35,000 | Includes Street Testing
MANAGEMENT | 40,968 | 42,192 | 43,452 | CPI Adjustment (Capped At 3%)
SECRETARIAL | 4,200 | 4,200 | 4,200 | No Change From 2022/2023 Budget
LEGAL | 938 | 10,000 | 9,500 | FY 22/23 Expenditure Through Jan 2023 Was $395
ASSESSMENT ROLL | 10,000 | 10,000 | 10,000 | As Per Contract
AUDIT FEES | 3,700 | 3,800 | 3,900 | Accepted Amount For 2022/2023 Audit
ARBITRAGE REBATE FEE - SERIES 2015 | 650 | 650 | 650 | No Change From 2022/2023 Budget
ARBITRAGE REBATE FEE - SERIES 2018 | 650 | 650 | 650 | No Change From 2022/2023 Budget
INSURANCE | 5,992 | 6,750 | 7,300 | FY 22/23 Expenditure Was $6,442
LEGAL ADVERTISING | 679 | 2,200 | 2,200 | FY 22/23 Expenditure Through Jan 2023 Was $1,204
MISCELLANEOUS | 639 | 1,000 | 1,000 | No Change From 2022/2023 Budget
POSTAGE | 107 | 525 | 500 | $25 Decrease From 2022/2023 Budget
OFFICE SUPPLIES | 376 | 725 | 700 | $25 Decrease From 2022/2023 Budget
DUES & SUBSCRIPTIONS | 175 | 175 | 175 | No Change From 2022/2023 Budget
WEBSITE MANAGEMENT | 2,000 | 2,000 | 2,000 | No Change From 2022/2023 Budget
TRUSTEE FEES - SERIES 2015 | 4,327 | 4,700 | 4,600 | $100 Decrease From 2022/2023 Budget
TRUSTEE FEES - SERIES 2018 | 3,709 | 3,900 | 3,900 | No Change From 2022/2023 Budget
CONTINUING DISCLOSURE FEE | 1,000 | 1,000 | 1,000 | No Change From 2022/2023 Budget
TOTAL EXPENDITURES | $	81,870 | $	135,787 | $	135,047 |
REVENUES LESS EXPENDITURES | $	1,017,548 | $	963,068 | $	963,808 |
BOND PAYMENTS - SERIES 2015 | (381,071) | (377,775) | (377,775) | 2024 Principal & Iinterest Payments
BOND PAYMENTS - SERIES 2018 | (575,712) | (570,746) | (570,746) | 2024 Principal & Iinterest Payments
BALANCE | $	60,765 | $	14,547 | $	15,287 |
COUNTY APPRAISER & TAX COLLECTOR ADMINISTRATIVE COSTS | (3,427) | (10,984) | (10,984) | One Percent Of Total Assessment Roll
DISCOUNTS FOR EARLY PAYMENTS | (41,741) | (43,940) | (43,940) | Four Percent Of Total Assessment Roll
EXCESS/ (SHORTFALL) | $	15,597 | $	(40,377) | $	(39,637) |
CARRYOVER FROM PRIOR YEAR | 0 | 40,377 | 39,637 | Carryover From Prior Year
NET EXCESS/ (SHORTFALL) | $	15,597 | $	- | $	- |

Note: Projected Available Funds Balance As Of 9-30-23 is $160,000

DETAILED PROPOSED DEBT SERVICE (SERIES 2015) FUND BUDGET
VILLAGE WALK OF BONITA SPRINGS 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 | 853 | 25 | 100 | Projected Interest For 2023/2024
NAV Collection | 381,071 | 377,775 | 377,775 | Maximum Debt Service Collection
Total Revenues | $	381,924 | $	377,800 | $	377,875 |
EXPENDITURES | | | |
Principal Payments | 230,000 | 235,000 | 240,000 | Principal Payment Due In 2024
Interest Payments | 146,831 | 136,981 | 129,525 | Interest Payments Due In 2024
Bond Redemption | 10,000 | 5,819 | 8,350 | Estimated Excess Debt Collections
Total Expenditures | $	386,831 | $	377,800 | $	377,875 |
Excess/ (Shortfall) | $	(4,907) | $	- | $	- |

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 1/1/2023 = | $4,075,000 | |

DETAILED PROPOSED DEBT SERVICE (SERIES 2018) FUND BUDGET
VILLAGE WALK OF BONITA SPRINGS 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 | 758 | 25 | 100 | Projected Interest For 2023/2024
NAV Collection | 575,712 | 570,746 | 570,746 | Maximum Debt Service Collection
Total Revenues | $	576,470 | $	570,771 | $	570,846 |
EXPENDITURES | | | |
Principal Payments | 346,000 | 358,000 | 370,000 | Principal Payment Due In 2024
Interest Payments | 228,898 | 211,835 | 200,005 | Interest Payments Due In 2024
Bond Redemption | 0 | 936 | 841 | Estimated Excess Debt Collections
Total Expenditures | $	574,898 | $	570,771 | $	570,846 |
Excess/ (Shortfall) | $	1,572 | $	- | $	- |

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 1/1/2023 =

May 2037

$6,697,000

Village Walk Community Development District Assessment Comparison

| Fiscal Year | Fiscal Year | Fiscal Year | Fiscal Year
Lot | | 2020/2021 | 2021/2022 | 2022/2023 | 2023/2024
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 | $	541.00 | $	541.00 | $	541.00 | $	541.00
| Total | $ | 601.46 | $ | 601.46 | $ | 601.46 | $ | 601.46
Duplex 36' | O & M | $ | 60.46 | $ | 60.46 | $ | 60.46 | $ | 60.46
Capri | Debt | $	541.00 | $	541.00 | $	541.00 | $	541.00
| Total | $ | 601.46 | $ | 601.46 | $ | 601.46 | $ | 601.46
Single Family 40' | O & M | $ | 60.46 | $ | 60.46 | $ | 60.46 | $ | 60.46
Garden | Debt | $	611.00 | $	611.00 | $	611.00 | $	611.00
| Total | $ | 671.46 | $ | 671.46 | $ | 671.46 | $ | 671.46
Single Family 50' | O & M | $ | 60.46 | $ | 60.46 | $ | 60.46 | $ | 60.46
Oakmont | Debt | $	636.00 | $	636.00 | $	636.00 | $	636.00
| Total | $ | 696.46 | $ | 696.46 | $ | 696.46 | $ | 696.46
Single Family 50' | O & M | $ | 60.46 | $ | 60.46 | $ | 60.46 | $ | 60.46
Classic | Debt | $	719.00 | $	719.00 | $	719.00 | $	719.00
| Total | $ | 779.46 | $ | 779.46 | $ | 779.46 | $ | 779.46
Single Family 60' | O & M | $ | 60.46 | $ | 60.46 | $ | 60.46 | $ | 60.46
Carlyle | Debt | $	732.00 | $	732.00 | $	732.00 | $	732.00
| Total | $ | 792.46 | $ | 792.46 | $ | 792.46 | $ | 792.46
Single Family 65' | O & M | $ | 60.46 | $ | 60.46 | $ | 60.46 | $ | 60.46
Estate | Debt | $	821.00 | $	821.00 | $	821.00 | $	821.00
| Total | $	881.46 | $	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

4/9/2023 2:22 PM