Islands At Doral (SW) Community Development District

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

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
ISLANDS AT DORAL (SW) COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2021/2022
BUDGET	
Administrative Assessments	81,711	
Maintenance Assessments	32,872	
Debt Assessments	572,496	
Other Revenues	0	
Interest Income	300	
		
TOTAL REVENUES	$	687,379	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
Engineering Report/Inspections	1,500	
Storm Drain Inlet Maintenance	9,000	
Street/Roadway Maintenance - Polynesian Subdivision	4,200	
Miscellaneous General Maintenance	3,600	
Miscellaneous Stormwater System Maintenance	12,600	
TOTAL MAINTENANCE EXPENDITURES	$	30,900	
		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	5,000	
Payroll Taxes (Employer)	383	
Management	31,200	
Secretarial & Field Operations	6,000	
Legal	7,500	
Assessment Roll	6,000	
Audit Fees	3,700	
Arbitrage Rebate Fee	650	
Insurance	6,000	
Legal Advertisements	650	
Miscellaneous	1,100	
Postage	250	
Office Supplies	550	
Dues & Subscriptions	175	
Trustee Fees	4,800	
Continuing Disclosure Fee	350	
Website Management	2,000	
Administrative Contingency	800	
TOTAL ADMINISTRATIVE EXPENDITURES	$	77,108	
		
TOTAL EXPENDITURES	$	108,008	
		
REVENUES LESS EXPENDITURES	$	579,371	
		
Bond Payments	(538,146)	
		
BALANCE	$	41,225	
		
County Appraiser & Tax Collector Fee	(13,742)	
Discounts For Early Payments	(27,483)	
		
EXCESS/ (SHORTFALL)	$	-	
		
Carryover From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED FINAL BUDGET
ISLANDS AT DORAL (SW) 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	78,023	81,753	81,711	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	32,872	32,872	32,872	Expenditures /.94	
Debt Assessments	627,892	572,496	572,496	Payment To Trustee/.94	
Other Revenues	0	0	0		
Interest Income	760	540	300	Interest Projected At $25 Per Month	
					
TOTAL REVENUES	$	739,547	$	687,661	$	687,379		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
Engineering Report/Inspections	975	1,500	1,500	No Change From 2020/2021 Budget	
Storm Drain Inlet Maintenance	0	9,000	9,000	No Change From 2020/2021 Budget	
Street/Roadway Maintenance - Polynesian Subdivision	0	4,200	4,200	No Change From 2020/2021 Budget	
Miscellaneous General Maintenance	0	3,600	3,600	No Change From 2020/2021 Budget	
Miscellaneous Stormwater System Maintenance	0	12,600	12,600	No Change From 2020/2021 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	975	$	30,900	$	30,900		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	4,600	5,000	5,000	No Change From 2020/2021 Budget	
Payroll Taxes (Employer)	352	383	383	Supervisor Fees *7.65%	
Management	30,096	30,780	31,200	CPI Adjustment	
Secretarial & Field Operations	6,000	6,000	6,000	No Change From 2020/2021 Budget	
Legal	6,937	7,500	7,500	No Change From 2020/2021 Budget	
Assessment Roll	6,000	6,000	6,000	No Change From 2020/2021 Budget	
Audit Fees	3,500	3,600	3,700	Accepted Amount For 2020/2021 Audit	
Arbitrage Rebate Fee	650	650	650	No Change From 2020/2021 Budget	
Insurance	5,251	6,000	6,000	Insurance Estimate	
Legal Advertisements	1,575	650	650	No Change From 2020/2021 Budget	
Miscellaneous	840	1,500	1,100	$400 Decrease From 2020/2021 Budget	
Postage	517	250	250	No Change From 2020/2021 Budget	
Office Supplies	809	550	550	No Change From 2020/2021 Budget	
Dues & Subscriptions	175	175	175	No Change From 2020/2021 Budget	
Trustee Fees	4,768	4,800	4,800	No Change From 2020/2021 Budget	
Continuing Disclosure Fee	350	350	350	No Change From 2020/2021 Budget	
Website Management	2,000	2,000	2,000	No Change From 2020/2021 Budget	
Administrative Contingency	0	1,200	800	$400 Decrease From 2020/2021 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	74,420	$	77,388	$	77,108		
					
TOTAL EXPENDITURES	$	75,395	$	108,288	$	108,008		
					
REVENUES LESS EXPENDITURES	$	664,152	$	579,373	$	579,371		
					
Bond Payments	(599,895)	(538,146)	(538,146)	2022 P & I Payments Less Earned Interest	
					
BALANCE	$	64,257	$	41,227	$	41,225		
					
County Appraiser & Tax Collector Fee	(7,126)	(13,742)	(13,742)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(25,743)	(27,485)	(27,483)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	31,388	$	-	$	-		
					
Carryover From Prior Year	0	0	0	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	31,388	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND BUDGET
ISLANDS AT DORAL (SW) 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	
1,721	
100	
25	
Projected Interest For 2021/2022	

NAV Tax Collection	
599,895	
538,146	
538,146	
Maximum Debt Service Collection	

Total Revenues	
$	601,616	
$	538,246	
$	538,171		

EXPENDITURES					

Principal Payments	
385,000	
361,000	
372,000	
Principal Payment Due In 2022	

Interest Payments	
48,781	
171,609	
161,750	
Interest Payments Due In 2022	

Refunding Cost Of Issuance	
152,200	
0	
0		

Bond Redemption	
0	
5,637	
4,421	
Estimated Excess Debt Collections	

Total Expenditures	
$	585,981	
$	538,246	
$	538,171		

Excess/ (Shortfall)	
$	15,635	
$	-	
$	-		

Series 2020 Refunding Bonds Information

Original Par Amount =	$6,945,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	2.69%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	January 2020			
Maturity Date =

Par Amount As Of 1/1/21 =	May 2035

$6,560,000			

Islands At Doral (SW) Community Development District Assessment Comparison

Original	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year
Lot	Projected	2018/2019	2019/2020	2020/2021	2021/2022
Size	 	Assessment*	     	Assessment*	     	Assessment*	     	Assessment*	     	Projected Assessment*	

23	Administrative	$	-	$	107.14	$	114.51	$	123.13	$	123.06	
	Maintenance	$	-	$	52.39	$	49.51	$	49.51	$	49.51	
Debt	$	- 	$	786.54	$	781.78	$	713.00	$	713.00	
Total For Lot Size 23	$	1,062.50	$	946.07	$	945.80	$	885.64	$	885.57	

32	
Administrative	
$	
-	$	107.14	
$	
114.51	
$	
123.13	
$	
123.06	
	Maintenance	$	-	$	52.39	$	49.51	$	49.51	$	49.51	
Debt	$	- 	$	945.45	$	939.72	$	857.00	$	857.00	
Total For Lot Size 32	$	1,250.00	$	1,104.98	$	1,103.74	$	1,029.64	$	1,029.57	

35	
Administrative	
$	
-	$	107.14	
$	
114.51	
$	
123.13	
$	
123.06	
	Maintenance	$	-	$	52.39	$	49.51	$	49.51	$	49.51	

Debt

$	-	$	998.42

$	992.37

$	905.00

$	905.00

Total For Lot Size 35	$

1,312.50	$

1,157.95	$

1,156.39	$

1,077.64	$

1,077.57

50	Administrative	$	-	$	107.14	$	114.51	$	123.13	$	123.06	
	Maintenance	$	-	$	52.39	$	49.51	$	49.51	$	49.51	

Debt

$	-	$	1,339.54

$	1,331.42

$	1,214.00

$	1,214.00

Total For Lot Size 50	$

1,750.00	$

1,499.07	$

1,495.44	$

1,386.64	$

1,386.57

* Assessments Include the Following :		
4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee		
Community Information:		
Twenty Three Foot Lots	280	
Thirty Two Foot Lots	120	
Thirty Five Foot Lots	163	
Fifty Foot Lots	101	
Total Units	664