Proposed Budget	
Fiscal Year 2024	

Crystal Cay	
Community Development District	

April 21, 2023

Crystal Cay	
Community Development District	

General Fund

Adopted	
Budget	
	FY 2023		

Actual	
thru	
  3/31/2023 	

Projected	
Next	
  6 Months 	

Total	
Projected at	
  9/30/2023 	

Proposed	
Budget	
	FY 2024		

Revenues	
Special Assessments	

 Description	

$136,500	$130,734	$5,766	$136,500	$136,500

Total Revenues		$136,500 		$130,734 		$5,766 		$136,500 		$136,500 

Expenditures

Administrative

Engineering Fees	
Arbitrage	
Dissemination Agent	
Assessment Roll	
Attorney Fees	
Annual Audit	
Trustee Fees	
Management Fees	
Telephone	
Postage	
Printing & Binding	
Insurance	
Legal Advertising	
Other Current Charges	
Website Administration	
Office Supplies	
Dues, Licenses & Subscriptions	

$7,000	
$600	
$2,625	
$2,000	
$15,000	
$4,300	
$3,000	
$39,900	
$50	
$750	
$1,000	
$6,000	
$2,500	
$515	
$1,260	
$150	
$175	

$339	
$0	
$1,313	
$2,000	
$5,241	
$4,400	
$2,500	
$19,950	
$0	
$106	
$9	
$5,375	
$0	
$429	
$630	
$2	
$175	

$3,500	
$550	
$1,313	
$0	
$7,337	
$0	
$500	
$19,950	
$25	
$106	
$150	
$0	
$750	
$429	
$630	
$50	
$0	

$3,839	
$550	
$2,625	
$2,000	
$12,578	
$4,400	
$3,000	
$39,900	
$25	
$212	
$159	
$5,375	
$750	
$858	
$1,260	
$52	
$175	

$7,000	
$600	
$2,625	
$2,000	
$15,000	
$4,500	
$3,000	
$39,900	
$50	
$750	
$1,000	
$6,300	
$2,500	
$860	
$1,260	
$150	
$175	

Total Administrative		$86,825 			$42,469 			$35,290 			$77,759 			$87,670 	
Field										

Lake Maintenance	
Repairs & Maintenance	
Contingency	

$12,000	
$20,000	
$17,675	

$4,038	
$0	
$2,400	

$4,038	
$10,000	
$8,838	

$8,076	
$10,000	
$11,238	

$12,000	
$20,000	
$16,830	

Total Field		$49,675 			$6,438 			$22,876 			$29,314 			$48,830 	
Total Expenditures		$136,500 			$48,907 			$58,165 			$107,072 			$136,500 	
Excess Revenues/Expenditures		$0 			$81,827 			($52,399)			$29,428 			$0 	

Gross Assessment	$143,684.21	
Less: Disc & Coll (5%)		($7,184.21)	
Net Assessment		$136,500.00	
# Units	325	
Per Unit Net Assessment	$420.00	
Per Unit Gross Assessment	$442.11	

Page 1

Crystal Cay
Community Development District	General Fund

REVENUES:

Assessments

The District will levy a Non-Ad Valorem assessment on all the platted lots within the District to pay all of the operating expenses for the Fiscal Year in accordance with the adopted budget.

EXPENDITURES:

Administrative:

Engineering Fees

The District's engineer will be providing general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review invoices, etc.

Dissemination Agent

The District is required by the Security and Exchange Commission to comply with Rule 15(c)(2)-12(b)(5), which relates to additional reporting requirements for un-rated bond issues.

Arbitrage

The District is required to have an annual arbitrage rebate calculation on the District’s Bonds. The District will contract with an independent auditing firm to perform the calculations.

Assessment Roll

Represents cost associated with annually levying and collection Non-Ad Valorem Assessments utilized to fund the operating and debt service cost of the District.

Attorney Fees

The District's legal counsel will be providing general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating & maintenance contracts, etc.

Annual Audit

The District is required annually to conduct an audit of its financial records by an Independent Certified Public Accounting Firm. Trustee Fees
The District bonds will be held and administered by a Trustee. This represents the trustee annual fee. Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services – South Florida, LLC.

Telephone

Telephone and fax machine
Administrative: (continued)

Crystal Cay
Community Development District	General Fund

Postage

Mailing of agenda packages, overnight deliveries, correspondence, etc. Insurance
The District's General Liability & Public Officials Liability Insurance policy is with a qualified entity that specializes in providing insurance coverage to governmental agencies. The amount is based upon similar Community Development Districts.

Printing & Binding

Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary, envelopes etc Legal Advertising
The District is required to advertise various notices for monthly Board meetings, public hearings etc in a newspaper of general circulation.

Other Current Charges

Bank charges and any other miscellaneous expenses that incurred during the year. Website Administration
Per Chapter 2014-22, Laws of Florida, all Districts must have a website to provide detailed information on the CDD as well as links to useful websites regarding Compliance issues. This website will be maintained by GMS-SF, LLC and updated monthly.

Office Supplies

Miscellaneous office supplies. Dues, Licenses & Subscriptions
The District is required to pay an annual fee to the Department of Economic Opportunity for $175. This is the only expense under this category for the District.

Field Maintenance:

Lake Maintenance

The maintenance of CDD owned lakes. Repairs & Maintenance
Miscellaneous repairs and maintenance as needed for CDD owned property. Contingency
Represents any un-budgeted expense.

Crystal Cay	
Community Development District	

 	
Debt Service Fund	
Series 2021 Special Assessment Bond	

Adopted	
Budget	
	FY 2023		

Actual	
thru	
  3/31/2023 	

Projected	
Next	
  6 Months 	

Total		Proposed	
Projected at		Budget	
  9/30/2023 			FY 2024		

 Description	

Revenues	
Special Assessments	
Carry Forward Surplus (1)	

$445,380	
$134,408	

$425,487	
$134,999	

$19,893	
$0	

$445,380	
$134,999	

$445,380	
$137,352	

Total Revenues		$579,788 		$560,487 		$19,893 		$580,379  	$582,732 
Expenditures

Series 2021	
Interest 11/1	
Principal 5/1	
Interest 5/1	

$134,014	
$175,000	
$134,014	

$134,014	
$0	
$0	

$0	
$175,000	
$134,014	

$134,014	
$175,000	
$134,014	

$132,045	
$180,000	
$132,045	

Total Expenditures		$443,028 		$134,014 		$309,014 		$443,028  	$444,090 

EXCESS REVENUES		$136,761 		$426,473 		($289,121)		$137,352  	$138,642 

	

	

	

	

	

	

(1) Carry forward is net of Reserve Fund requirement.	11/1/24 Interest	$	130,020

Annual Net	Annual Gross*	Annual Gross*	
Debt Assessment Debt Assessment  Debt Assessment	
Land Use	 No. of Units			Per Unit			Per Unit	 	Total	

Main Site
Single Family	32	$	1,633.52	$	1,719.49	$	55,023.68
Townhome	153	$	1,388.50	$	1,461.58	$	223,621.74
Villa		140		$	1,290.48	$	1,358.40	 $	190,176.00 
Totals	325	$	468,821.42
Less: Discounts/Commissions (5%)  $	(23,441.07)
$	445,380.35	

Crystal Cay	
Community Development District	

Series 2021 Special Assessment Bond	
Amortization Schedule	

 				
PRINCIPAL	
  DATE 		BALANCE		 RATE 		INTEREST			PRINCIPAL			TOTAL		
1-Nov-21	$8,135,000.00	2.25%	$54,393.00	$0.00		
1-May-22	$8,135,000.00	2.25%	$135,982.50	$175,000.00	$365,375.50	
1-Nov-22	$7,960,000.00	2.25%	$134,013.75	$0.00		
1-May-23	$7,960,000.00	2.25%	$134,013.75	$175,000.00	$443,027.50	
1-Nov-23	$7,785,000.00	2.25%	$132,045.00	$0.00		
1-May-24	$7,785,000.00	2.25%	$132,045.00	$180,000.00	$444,090.00	
1-Nov-24	$7,605,000.00	2.25%	$130,020.00	$0.00		
1-May-25	$7,605,000.00	2.25%	$130,020.00	$185,000.00	$445,040.00	
1-Nov-25	$7,420,000.00	2.25%	$127,938.75	$0.00		
1-May-26	$7,420,000.00	2.25%	$127,938.75	$190,000.00	$445,877.50	
1-Nov-26	$7,230,000.00	2.700%	$125,801.25	$0.00		
1-May-27	$7,230,000.00	2.700%	$125,801.25	$195,000.00	$446,602.50	
1-Nov-27	$7,035,000.00	2.700%	$123,168.75	$0.00		
1-May-28	$7,035,000.00	2.700%	$123,168.75	$200,000.00	$446,337.50	
1-Nov-28	$6,835,000.00	2.700%	$120,468.75	$0.00		
1-May-29	$6,835,000.00	2.700%	$120,468.75	$205,000.00	$445,937.50	
1-Nov-29	$6,630,000.00	2.700%	$117,701.25	$0.00		
1-May-30	$6,630,000.00	2.700%	$117,701.25	$210,000.00	$445,402.50	
1-Nov-30	$6,420,000.00	2.700%	$114,866.25	$0.00		
1-May-31	$6,420,000.00	3.050%	$114,866.25	$215,000.00	$444,732.50	
1-Nov-31	$6,205,000.00	3.050%	$111,963.75	$0.00		
1-May-32	$6,205,000.00	3.050%	$111,963.75	$220,000.00	$443,927.50	
1-Nov-32	$5,985,000.00	3.050%	$108,608.75	$0.00		
1-May-33	$5,985,000.00	3.050%	$108,608.75	$230,000.00	$447,217.50	
1-Nov-33	$5,755,000.00	3.050%	$105,101.25	$0.00		
1-May-34	$5,755,000.00	3.050%	$105,101.25	$235,000.00	$445,202.50	
1-Nov-34	$5,520,000.00	3.050%	$101,517.50	$0.00		
1-May-35	$5,520,000.00	3.050%	$101,517.50	$245,000.00	$448,035.00	
1-Nov-35	$5,275,000.00	3.050%	$97,781.25	$0.00		
1-May-36	$5,275,000.00	3.050%	$97,781.25	$250,000.00	$445,562.50	
1-Nov-36	$5,025,000.00	3.050%	$93,968.75	$0.00		
1-May-37	$5,025,000.00	3.050%	$93,968.75	$260,000.00	$447,937.50	
1-Nov-37	$4,765,000.00	3.050%	$90,003.75	$0.00		
1-May-38	$4,765,000.00	3.050%	$90,003.75	$265,000.00	$445,007.50	
1-Nov-38	$4,500,000.00	3.050%	$85,962.50	$0.00		
1-May-39	$4,500,000.00	3.050%	$85,962.50	$275,000.00	$446,925.00	
1-Nov-39	$4,225,000.00	3.050%	$81,768.75	$0.00		
1-May-40	$4,225,000.00	3.050%	$81,768.75	$285,000.00	$448,537.50	
1-Nov-40	$3,940,000.00	3.050%	$77,422.50	$0.00		
1-May-41	$3,940,000.00	3.050%	$77,422.50	$290,000.00	$444,845.00	
1-Nov-41	$3,650,000.00	4.000%	$73,000.00	$0.00		
1-May-42	$3,650,000.00	4.000%	$73,000.00	$305,000.00	$451,000.00	
1-Nov-42	$3,345,000.00	4.000%	$66,900.00	$0.00		
1-May-43	$3,345,000.00	4.000%	$66,900.00	$315,000.00	$448,800.00	
1-Nov-43	$3,030,000.00	4.000%	$60,600.00	$0.00		
1-May-44	$3,030,000.00	4.000%	$60,600.00	$330,000.00	$451,200.00	
1-Nov-44	$2,700,000.00	4.000%	$54,000.00	$0.00		
1-May-45	$2,700,000.00	4.000%	$54,000.00	$340,000.00	$448,000.00	
1-Nov-45	$2,360,000.00	4.000%	$47,200.00	$0.00		
1-May-46	$2,360,000.00	4.000%	$47,200.00	$355,000.00	$449,400.00	
1-Nov-46	$2,005,000.00	4.000%	$40,100.00	$0.00		
1-May-47	$2,005,000.00	4.000%	$40,100.00	$370,000.00	$450,200.00	
1-Nov-47	$1,635,000.00	4.000%	$32,700.00	$0.00		
1-May-48	$1,635,000.00	4.000%	$32,700.00	$385,000.00	$450,400.00	
1-Nov-48	$1,250,000.00	4.000%	$25,000.00	$0.00		
1-May-49	$1,250,000.00	4.000%	$25,000.00	$400,000.00	$450,000.00	
1-Nov-49	$850,000.00	4.000%	$17,000.00	$0.00		
1-May-50	$850,000.00	4.000%	$17,000.00	$415,000.00	$449,000.00	
1-Nov-50	$435,000.00	4.000%	$8,700.00	$0.00		
1-May-51	$435,000.00	4.000%	$8,700.00	$435,000.00	$452,400.00	

 Total 		$4,742,617.50		$7,785,000.00	 $12,527,617.50