Cutler Cay Community Development District

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

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL MAINTENANCE BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET

OPERATING FUND FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	FISCAL YEAR 2021/2022 BUDGET
10/1/21 - 9/30/22	AMENDED FINAL BUDGET
10/1/21 - 9/30/22	YEAR TO DATE ACTUAL
10/1/21 - 9/29/22	
Operating Fund Revenues				
Administrative Assessments	87,614	90,914	90,914	
Maintenance Assessments	550,979	550,980	550,980	
Debt Assessments	773,141	773,142	773,142	
Other Revenues	0	1,200	1,200	
Interest Income	300	1,000	1,272	
TOTAL REVENUES	$	1,412,034	$	1,417,236	$	1,417,508	

EXPENDITURES				
ADMINISTRATIVE EXPENDITURES				
Supervisor Fees	6,000	3,600	3,600	
Payroll Taxes - Employer	480	275	275	
Management	30,540	30,540	30,540	
Secretarial	4,200	4,200	4,200	
Legal	12,500	13,500	13,093	
Assessment Roll	7,500	7,500	7,500	
Audit Fees	3,400	3,400	3,400	
Arbitrage Rebate Fee	650	650	650	
Insurance	8,500	10,155	10,155	
Legal Advertisements	750	750	508	
Miscellaneous	1,300	3,000	2,879	
Postage	350	1,100	1,092	
Office Supplies	800	1,850	1,823	
Dues & Subscriptions	175	175	175	
Trustee Fees	3,600	4,139	4,139	
Continuing Disclosure Fee	350	350	350	
Website Management	2,000	2,000	2,000	
TOTAL ADMINISTRATIVE EXPENDITURES	$	83,095	$	87,184	$	86,379	
				
TOTAL MAINTENANCE EXPENDITURES	$	520,675	$	507,675	$	354,491	

TOTAL EXPENDITURES	$	603,770	$	594,859	$	440,870	
				
REVENUES LESS EXPENDITURES	$	808,264	$	822,377	$	976,638	
				
Bond Refunding Payments	(726,753)	(739,734)	(739,734)	
				
BALANCE	$	81,511	$	82,643	$	236,904	
				
County Appraiser & Tax Collector Fee	(27,170)	(13,676)	(13,676)	
Discounts For Early Payments	(54,341)	(47,359)	(47,359)	
				
EXCESS/ (SHORTFALL)	$	-	$	21,608	$	175,869	
				
Carryover From Prior Year	0	0	0	
				
NET EXCESS/ (SHORTFALL)	$	-	$	21,608	$	175,869	

OPERATING FUND BALANCE AS OF 09/30/21	
FY 2021/2022 ACTIVITY	
OPERATING FUND BALANCE AS OF 9/30/22	

$442,768	
$21,608	
$464,376	

Notes
Fund Balance Includes Drainage, Pipe & Roads Reserves.
Reserve Balances As Of 9/30/2022 total $261,500 - Unspent Maintenance To Be Added To Reserves In October 2022.

OPERATING FUND - MAINTENANCE EXPENSITURES FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

	
FISCAL YEAR 2021/2022 BUDGET
10/1/21 - 9/30/22	
AMENDED FINAL BUDGET
10/1/21 - 9/30/22	
YEAR TO DATE ACTUAL
10/1/21 - 9/29/22	

MAINTENANCE EXPENDITURES				

Contingency/Reserve	
30,000	
30,000	
15,349	

Lakes Maintenance	
10,000	
10,000	
7,140	

Roads Maintenance/Reserve	
47,500	
65,000	
56,908	

Stormwater Drainage/Reserve	
17,575	
17,575	
14,793	

Stormwater Drainage System Pipe Repairs Project	
65,000	
70,000	
64,266	

Field Operations	
3,600	
7,100	
7,100	

Walls & Wall Fountain Maintenance	
25,000	
32,000	
28,031	

Sidewalk Maintenance/Repairs	
15,000	
15,000	
9,521	

Engineering/Inspections	
7,000	
55,000	
47,343	

Street Signage	
5,000	
2,500	
0	

Lake Fountain Maintenance	
15,000	
7,500	
300	

Entry Features Maintenance	
15,000	
15,000	
4,900	

Guardhouse Exterior Maintenance	
10,000	
10,000	
95	

Guardhouse Insurance	
5,000	
5,000	
0	

Water & Sewage	
5,000	
1,000	
340	

FPL - Street Lighting Project	
95,000	
95,000	
45,460	

FPL - Electrical	
150,000	
30,000	
21,852	

Lake Erosion Restoration Project	
0	
40,000	
31,093	

TOTAL MAINTENANCE EXPENDITURES	
$	520,675	
$	507,675	
$	354,491	

DEBT SERVICE FUND FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	FISCAL YEAR 2021/2022 BUDGET 10/1/21 - 9/30/22	AMENDED FINAL BUDGET
10/1/21 - 9/30/22	YEAR TO DATE ACTUAL
10/1/21 - 9/29/22	
Interest Income	25	13	12	
NAV Tax Collection	726,753	739,734	739,734	
				
Total Revenues	$	726,778	$	739,747	$	739,746	
				
EXPENDITURES				
Principal Payments	555,000	555,000	555,000	
Interest Payments	167,937	195,609	195,609	
Bond Redemption	3,841	0	0	
				
Total Expenditures	$	726,778	$	750,609	$	750,609	
				
Excess/ (Shortfall)	$	-	$	(10,862)	$	(10,863)	

FUND BALANCE AS OF 09/30/21	
FY 2021/2022 ACTIVITY	
FUND BALANCE AS OF 09/30/22	

$139,606	
($10,862)	
$128,744	

Notes
Revenue Fund Balance = $128,744*.
Revenue Fund Balance To Be Used To Make 11/1/2022 Interest Payment Of $80,999.

* Approximate Amounts		
Series 2021 Bond Refunding Information		
Original Par Amount =	$8,125,000	Annual Principal Payments Due:	
Interest Rate =	2.14%	May 1st	
Issue Date =	March 2021	Annual Interest Payments Due:	
Maturity Date =	May 2034	May 1st & November 1st	
Par Amount As Of 9/30/22 =	$7,570,000		

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