Venetian Isles Community Development District

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

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

PROPOSED BUDGET
VENETIAN ISLES COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2021/2022 BUDGET	
Administrative Assessments	64,154	
Maintenance Assessments	94,489	
Debt Assessments	343,248	
Other Revenues	0	
Interest Income	420	
		
TOTAL REVENUES	$	502,311	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
Aquatic Maintenance - Lake Tracts - Herbicides	9,800	
Aquatic Maintenance - Lake Tracts - Grass Carps	1,500	
General Maintenance - Lake Tracts/Shoreline Restoration	15,000	
Drainage Structure Maintenance/Cleaning	6,000	
Roadway/Street Improvements - Repairs (Including Signs)	9,000	
Engineers Report/Inspections/Consulting	1,500	
Field Operations Management	1,620	
Miscellaneous Improvement Projects	8,400	
Security Camera MTE/Cable/Monitoring	2,500	
Infrastructure Reserve Fund	17,500	
Pressure Cleaning	6,000	
Contingency (Maintenance & Storm Clean-up)	10,000	
TOTAL MAINTENANCE EXPENDITURES	88,820	
		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	6,000	
Payroll Taxes	460	
Management	31,740	
Secretarial	4,200	
Legal	9,000	
Assessment Roll	6,000	
Audit Fees	3,600	
Insurance	6,800	
Legal Advertisements	700	
Web Site Admin, Payroll Services, Meeting Room Rental & Mileage	3,500	
Office Supplies, Postage & Mailings	1,650	
Dues & Subscriptions	175	
Trustee Fee	3,550	
Continuing Disclosure Fee	350	
Administrative Contingency	1,200	
TOTAL ADMINISTRATIVE EXPENDITURES	78,925	
		
TOTAL EXPENDITURES	$	167,745	
		
REVENUES LESS EXPENDITURES	$	334,566	
		
Bond Payments	(322,653)	
		
BALANCE	$	11,913	
		
County Appraiser & Tax Collector Fee	(10,037)	
Discounts For Early Payments	(20,076)	
		
EXCESS/ (SHORTFALL)	$	(18,200)	
		
Carryover From Prior Year	18,200	
		
NET EXCESS/ (SHORTFALL)	$	-	

3/13/2021  1:54 PM	I

DETAILED PROPOSED BUDGET
VENETIAN ISLES 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	
Administrative Assessments	69,339	65,349	64,154	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	89,596	90,234	94,489	Expenditures/.94	
Debt Assessments	343,916	346,323	343,248	Bond Payments/.94	
Other Revenues	469	0	0		
Interest Income	839	420	420	Interest Projected At $35 Per Month	
					
TOTAL REVENUES	$	504,159	$	502,326	$	502,311		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
Aquatic Maintenance - Lake Tracts - Herbicides	8,340	9,800	9,800	No Change From 2020/2021 Budget	
Aquatic Maintenance - Lake Tracts - Grass Carps	0	1,500	1,500	No Change From 2020/2021 Budget	
General Maintenance - Lake Tracts/Shoreline Restoration	4,799	15,000	15,000	No Change From 2020/2021 Budget	
Drainage Structure Maintenance/Cleaning	11,210	6,000	6,000	No Change From 2020/2021 Budget	
Roadway/Street Improvements - Repairs (Including Signs)	5,600	9,000	9,000	No Change From 2020/2021 Budget	
Engineers Report/Inspections/Consulting	1,309	1,500	1,500	No Change From 2020/2021 Budget	
Field Operations Management	1,620	1,620	1,620	No Change From 2020/2021 Budget	
Miscellaneous Improvement Projects	5,429	8,400	8,400	No Change From 2020/2021 Budget	
Security Camera MTE/Cable/Monitoring	1,534	2,500	2,500	No Change From 2020/2021 Budget	
Infrastructure Reserve Fund	0	17,500	17,500	No Change From 2020/2021 Budget	
Pressure Cleaning	0	0	6,000	Pressure Cleaning	
Contingency (Maintenance & Storm Clean-up)	0	12,000	10,000	$2,000 Decrease From 2020/2021 Budget	
TOTAL MAINTENANCE EXPENDITURES	39,841	84,820	88,820		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	1,800	6,000	6,000	No Change From 2020/2021 Budget	
Payroll Taxes	138	460	460	Supervisor Fees *7.65%	
Management	30,612	31,308	31,740	CPI Adjustment	
Secretarial	4,200	4,200	4,200	No Change From 2020/2021 Budget	
Legal	9,330	9,000	9,000	No Change From 2020/2021 Budget	
Assessment Roll	6,000	6,000	6,000	As Per Contract	
Audit Fees	3,500	3,600	3,600	Accepted Amount For 2020/2021 Audit	
Insurance	5,428	6,800	6,800	Insurance Estimate	
Legal Advertisements	788	700	700	No Change From 2020/2021 Budget	
Web Site Admin, Payroll Services, Meeting Room Rental & Mileage	2,823	3,500	3,500	No Change From 2020/2021 Budget	
Office Supplies, Postage & Mailings	474	1,700	1,650	$50 Decrease From 2020/2021 Budget	
Dues & Subscriptions	175	175	175	No Change From 2020/2021 Budget	
Trustee Fee	3,547	3,550	3,550	No Change From 2020/2021 Budget	
Continuing Disclosure Fee	350	350	350	No Change From 2020/2021 Budget	
Administrative Contingency	0	1,200	1,200	Administrative Contingency	
TOTAL ADMINISTRATIVE EXPENDITURES	69,165	78,543	78,925		
					
TOTAL EXPENDITURES	$	109,006	$	163,363	$	167,745		
					
REVENUES LESS EXPENDITURES	$	395,153	$	338,963	$	334,566		
					
Bond Payments	(328,221)	(325,544)	(322,653)	2022 P & I Payments Less Earned Interest	
					
BALANCE	$	66,932	$	13,419	$	11,913		
					
County Appraiser & Tax Collector Fee	(4,845)	(10,038)	(10,037)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(18,073)	(20,076)	(20,076)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	44,014	$	(16,695)	$	(18,200)		
					
Carryover From Prior Year	0	16,695	18,200	Carryover Balance From Prior Years	
					
NET EXCESS/ (SHORTFALL)	$	44,014	$	-	$	-		

3/13/2021 1:54 PM	II

DETAILED PROPOSED DEBT SERVICE FUND BUDGET VENETIAN ISLES 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	
2,109	
500	
25	
Projected Interest For 2021/2022	

NAV Tax Collection	
328,221	
325,544	
322,653	
2022 P & I Payments Less Earned Interest	

Total Revenues	
$	330,330	
$	326,044	
$	322,678		

EXPENDITURES					

Principal Payments	
240,000	
250,000	
255,000	
Principal Payment Due In 2022	

Interest Payments	
87,306	
76,044	
67,678	
Interest Payments Due In 2022	

Total Expenditures	
$	327,306	
$	326,044	
$	322,678		

Excess/ (Shortfall)	
$	3,024	
$	-	
$	-		

Series 2013 Bond Refunding Information
Original Par Amount =	$3,825,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	1.25% - 3.875%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	May 2013			
Maturity Date =

Par Amount As Of 1/1/21 =	May 2028

$2,240,000			

3/13/2021 1:54 PM	III

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

Venetian Isles Community Development District Assessment Comparison

Administrative	$	118.48	$	119.40	$	114.05	$	111.97	
Maintenance	$	153.92	$	156.37	$	157.48	$	164.91	

Debt

$	605.72

$	602.30

$	606.53

$	601.14

Total

$	878.12	$

878.07	$

878.06	$

878.02

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

Community Information (O&M):	

Total Units	574	
Less Lot #30-4916-030-0090		
Transfer To HOA Common Area	1	
Billed for O&M	573	

Community Information (Debt):	

Total Units	574	
Prepayments	3	
Billed for Debt	571	

3/13/2021 1:54 PM	IV