Everlands Community Development District

Proposed Budget For Fiscal Year 2024/2025
October 1, 2024 - September 30, 2025

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET (SERIES 2021)

DETAILED PROPOSED DEBT SERVICE FUND BUDGET (SERIES 2024)

ASSESSMENT COMPARISON

PROPOSED BUDGET
EVERLANDS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	
FISCAL YEAR 2024/2025
BUDGET	
O&M Assessments	100,000	
Developer Contribution - O&M	0	
Debt Assessments - Series 2021	189,570	
Debt Assessments - Series 2024	580,155	
Interest Income	600	
		
TOTAL REVENUES	$	870,325	
		
EXPENDITURES		
Supervisor Fees	0	
Engineering/Inspections	3,500	
Management	39,324	
Legal	16,000	
Assessment Roll	7,500	
Audit Fees	5,000	
Arbitrage Rebate Fee	650	
Insurance	6,300	
Legal Advertisements	2,000	
Miscellaneous	1,581	
Postage	300	
Office Supplies	1,000	
Dues & Subscriptions	175	
Trustee Fees	8,500	
Continuing Disclosure Fee	1,500	
Miscellaneous Maintenance	1,270	
TOTAL EXPENDITURES	$	94,600	
		
REVENUES LESS EXPENDITURES	$	775,725	
		
Bond Payments - Series 2021	(178,196)	
Bond Payments - Series 2024	(545,346)	
		
BALANCE	$	52,183	
		
County Appraiser & Tax Collector Fee	(17,394)	
Discounts For Early Payments	(34,789)	
		
EXCESS/ (SHORTFALL)	$	-	

DETAILED PROPOSED BUDGET
EVERLANDS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	
FISCAL YEAR 2022/2023 ACTUAL	
FISCAL YEAR 2023/2024 BUDGET	
FISCAL YEAR 2024/2025 BUDGET	

COMMENTS	
O&M Assessments	16,479	100,000	100,000	Expenditures/.94	
Developer Contribution - O&M	78,809	0	0		
Debt Assessments - Series 2021	313,302	189,570	189,570	Bond Payments/.94	
Debt Assessments - Series 2024	0	0	580,155	Bond Payments/.94	
Interest Income	2,165	240	600	Interest Estimated At $50 Per Month	
					
TOTAL REVENUES	$	410,755	$	289,810	$	870,325		
					
EXPENDITURES					
Supervisor Fees	0	0	0		
Engineering/Inspections	510	6,500	3,500	$3,000 Decrease From 2023/2024 Budget	
Management	37,080	38,184	39,324	CPI Increase (Capped At 3%)	
Legal	8,340	18,000	16,000	Fiscal Year 2023/2024 Expenditure As Of March 2024 Was $4,848	
Assessment Roll	7,500	7,500	7,500	As Per Contract	
Audit Fees	4,400	4,400	5,000	Will Increase Due To Second Bond	
Arbitrage Rebate Fee	0	0	650	Will Be Required For Series 2024 Bond	
Insurance	5,563	6,000	6,300	Fiscal Year 2023/2024 Expenditure Was $5,980	
Legal Advertisements	6,710	2,000	2,000	No Change From 2023/2024 Budget	
Miscellaneous	585	1,581	1,581	$381 Decrease From 2023/2024 Budget	
Postage	299	300	300	No Change From 2023/2024 Budget	
Office Supplies	367	1,150	1,000	$150 Decrease From 2023/2024 Budget	
Dues & Subscriptions	175	175	175	Annual Fee Due Department Of Economic Opportunity	
Trustee Fees	4,140	4,250	8,500	Increased Due To Second Bond	
Continuing Disclosure Fee	1,000	1,000	1,500	Increased Due To Second Bond	
Miscellaneous Maintenance	0	3,200	1,270	Miscellaneous Maintenance	
TOTAL EXPENDITURES	$	76,669	$	94,240	$	94,600		
					
REVENUES LESS EXPENDITURES	$	334,086	$	195,570	$	775,725		
					
Bond Payments - Series 2021	(302,090)	(178,196)	(178,196)	2025 Principal & Interest Payments	
Bond Payments - Series 2024	0	0	(545,346)	2025 Principal & Interest Payments	
					
BALANCE	$	31,996	$	17,374	$	52,183		
					
County Appraiser & Tax Collector Fee	(4,035)	(5,791)	(17,394)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(8,217)	(11,583)	(34,789)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	19,744	$	-	$	-		

DETAILED PROPOSED DEBT SERVICE FUND BUDGET (SERIES 2021)
EVERLANDS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	

FISCAL YEAR

2022/2023

ACTUAL	

FISCAL YEAR

2023/2024

BUDGET	

FISCAL YEAR

2024/2025

BUDGET	

COMMENTS	

Interest Income	
4,997	
100	
400	
Projected Interest For 2024/2025	

Developer Contribution	
123,731	
0	
0		

NAV Tax Collection	
178,360	
178,196	
178,196	
Maximum Debt Service Collection	

Total Revenues	
$	307,088	
$	178,296	
$	178,596		

EXPENDITURES					

Principal Payments	
70,000	
70,000	
75,000	
Principal Payment Due In 2025	

Interest Payments	
106,691	
104,381	
102,841	
Interest Payments Due In 2025	

Bond Redemption	
0	
3,915	
755	
Estimated Excess Debt Collections	

Total Expenditures	
$	176,691	
$	178,296	
$	178,596		

Excess/ (Shortfall)	

$	130,397	

$	-	

$	-		

Series 2021 Bond Information

Original Par Amount =	$3,200,000	Annual Principal Payments Due =	December 15th	
Interest Rate =	2.20% - 4.00%	Annual Interest Payments Due =	June 15th & December 15th	
Issue Date =	October 2021			
Maturity Date =

Par Amount As Of 1/1/24 =	December 2051

$3,130,000			

DETAILED PROPOSED DEBT SERVICE FUND BUDGET (SERIES 2024)
EVERLANDS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	

FISCAL YEAR

2022/2023

ACTUAL	

FISCAL YEAR

2023/2024

BUDGET	

FISCAL YEAR

2024/2025

BUDGET	

COMMENTS	

Interest Income	
0	
0	
0	
Projected Interest For 2024/2025	

Developer Contribution	
0	
0	
0		

NAV Tax Collection	
0	
0	
545,346	
Maximum Debt Service Collection	

Total Revenues	
$	-	
$	-	
$	545,346		

EXPENDITURES					

Principal Payments	
0	
0	
120,000	
Principal Payment Due In 2025	

Interest Payments	
0	
0	
425,223	
Interest Payments Due In 2025	

Bond Redemption	
0	
0	
123	
Estimated Excess Debt Collections	

Total Expenditures	
$	-	
$	-	
$	545,346		

Excess/ (Shortfall)	

$	-	

$	-	

$	-		

Series 2024 Bond Information

Original Par Amount =	$8,065,000	Annual Principal Payments Due =	June 15th	
Interest Rate =	4.40% - 5.50%	Annual Interest Payments Due =	June 15th & December 15th	
Issue Date =	March 2024			
Maturity Date =

Par Amount As Of 1/1/24 =	June 2054

$8,065,000			

EVERLANDS COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year
2021/2022	2022/2023	2023/2024	2024/2025
	Assessment*	 	Assessment*	 	Assessment*	  Projected Assessment* 

O & M For Single Family 50' - 2021 Project		$	-	$	99.81		$	99.81		$	99.81	
Debt For Single Family 50' - 2021 Project		$	-	$	1,170.19		$	1,170.19		$	1,170.19	
Total For 2021 Project Units		$	-	$	1,270.00		$	1,270.00		$	1,270.00	

O & M For Expansion Area - Phase 1 - Duplex/Townhomes		
$	
-	$	
99.81		
$	
99.81		
$	99.81	
Debt For Expansion Area - Phase 1 - Duplex/Townhomes		$	-	$	-		$	-		$	1,488.00	
Total For Expansion Area - Phase 1 - Duplex/Townhomes		$	-	$	99.81		$	99.81		$	1,587.81	
O & M For Expansion Area - Phase 1 - Single Family 40' & 50'		$	-	$	99.81		$	99.81		$	99.81	
Debt For Expansion Area - Phase 1 - Single Family 40' & 50'		$	-	$	-		$	-		$	1,541.00	
Total For Expansion Area - Phase 1 - Single Family 40' & 50'		$	-	$	99.81		$	99.81		$	1,640.81	
O & M For Expansion Area - Phase 1 - Single Family 60'		$	-	$	99.81		$	99.81		$	99.81	
Debt For Expansion Area - Phase 1 - Single Family 60'		$	-	$	-		$	-		$	1,568.00	
Total For Expansion Area - Phase 1 - Single Family 60'		$	-	$	99.81		$	99.81		$	1,667.81	
O & M For Expansion Area - Phase 2 - Duplex/Townhomes		$	-	$	99.81		$	99.81		$	99.81	
Debt For Expansion Area - Phase 2 - Duplex/Townhomes		$	-	$	-		$	-		$	-	
Total For Expansion Area - Phase 2 - Duplex/Townhomes		$	-	$	99.81		$	99.81		$	99.81	
O & M For Expansion Area - Phase 2 - Single Family 40' & 50'		$	-	$	99.81		$	99.81		$	99.81	
Debt For Expansion Area - Phase 2 - Single Family 40' & 50'		$	-	$	-		$	-		$	-	
Total For Expansion Area - Phase 2 - Single Family 40' & 50'		$	-	$	99.81		$	99.81		$	99.81	

* Assessments Include the Following: 4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee	O&M Assessed To 1,002 Units Debt Assessed To 542 Units	460 Units To Be Direct Billed For O&M (Expansion - Phase 2)	

Community Information	

Expansion Phase 1 - 2024 Bond	

Expansion Phase 2	
1,002 Total Units	Duplex - 54 Units	Duplex - 96 Units	
162 Units In 2021 Project & 840 Expansion Units	Townhome - 80 Units	Townhome - 154 Units	
	Single Family 40' - 122 Units	Single Family 40' - 104 Units	
2021 Project	Single Family 50' - 62 Units	Single Family 50' - 106 Units	
Single Family 50' : 162 Units	Single Family 60' - 62 Units		Single Family 60' - 0 Units		
	Expansion Phase 1 Total - 380 Units	Expansion Phase 1 Total - 460 Units	

5/2/2024 3:26 PM	IV