High Ridge/Quantum Community Development District

Final Budget For Fiscal Year 2018/2019
October 1, 2018 - September 30, 2019

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
HIGH RIDGE/QUANTUM COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	
FISCAL YEAR 2018/2019 BUDGET	
O & M Assessments	60,412	
Debt Assessments	128,719	
Other Revenues	0	
Interest Income	120	
		
TOTAL REVENUES	$	189,251	
		
EXPENDITURES		
Supervisor Fees	5,000	
Payroll Taxes (Employer)	400	
Engineering	1,500	
Management	20,076	
Secretarial	3,000	
Legal	7,000	
Assessment Roll	3,000	
Audit Fees	3,500	
Insurance	6,356	
Legal Advertisements	1,400	
Miscellaneous	800	
Postage	225	
Office Supplies	375	
Dues & Subscriptions	175	
Trustee Fee	3,600	
Continuing Disclosure Fee	1,000	
Website Management	1,500	
		
TOTAL EXPENDITURES	$	58,907	
		
REVENUES LESS EXPENDITURES	$	130,344	
		
Bond Payments	(120,996)	
		
BALANCE	$	9,348	
		
County Appraiser & Tax Collector Fee	(3,783)	
Discounts For Early Payments	(7,565)	
		
EXCESS/ (SHORTFALL)	$	(2,000)	
		
Carryover From Prior Year	2,000	
		
NET EXCESS/ (SHORTFALL)	$	-	

4/27/2018  2:20 PM	I

DETAILED FINAL BUDGET
HIGH RIDGE/QUANTUM COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	

FISCAL YEAR 2016/2017
ACTUAL	

FISCAL YEAR 2017/2018
BUDGET	

FISCAL YEAR 2018/2019
BUDGET	

COMMENTS	
O & M Assessments	54,984	60,510	60,412	Expenditures Less Interest & Carryover/.94	
Debt Assessments	143,425	128,719	128,719	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	150	120	120	Interest Projected At $10 Per Month	
					
TOTAL REVENUES	$	198,559	$	189,349	$	189,251		
					
EXPENDITURES					
Supervisor Fees	4,400	5,000	5,000	Supervisor Fees	
Payroll Taxes (Employer)	336	400	400	Projected At 8% Of Supervisor Fees	
Engineering	1,000	2,000	1,500	$500 Decrease From 2017/2018 Budget	
Management	19,272	19,668	20,076	CPI Adjustment	
Secretarial	3,000	3,000	3,000	No Change From 2017/2018 Budget	
Legal	7,871	7,000	7,000	No Change From 2017/2018 Budget	
Assessment Roll	3,000	3,000	3,000	As Per Contract	
Audit Fees	3,500	3,500	3,500	No Change From 2017/2018 Budget	
Insurance	5,778	6,356	6,356	No Change From 2017/2018 Budget	
Legal Advertisements	2,611	1,400	1,400	No Change From 2017/2018 Budget	
Miscellaneous	431	800	800	No Change From 2017/2018 Budget	
Postage	148	225	225	No Change From 2017/2018 Budget	
Office Supplies	523	375	375	No Change From 2017/2018 Budget	
Dues & Subscriptions	175	175	175	No Change From 2017/2018 Budget	
Trustee Fee	3,385	3,600	3,600	No Change From 2017/2018 Budget	
Continuing Disclosure Fee	1,000	1,000	1,000	No Change From 2017/2018 Budget	
Website Management	1,500	1,500	1,500	No Change From 2017/2018 Budget	
					
TOTAL EXPENDITURES	$	57,930	$	58,999	$	58,907		
					
REVENUES LESS EXPENDITURES	$	140,629	$	130,350	$	130,344		
					
Bond Payments	(136,612)	(120,996)	(120,996)	2019 P & I Payments Less Earned Interest	
					
BALANCE	$	4,017	$	9,354	$	9,348		
					
County Appraiser & Tax Collector Fee	(1,033)	(3,785)	(3,783)	Two Percent Of Total Tax Roll	
Discounts For Early Payments	(7,493)	(7,569)	(7,565)	Four Percent Of Total Tax Roll	
					
EXCESS/ (SHORTFALL)	$	(4,509)	$	(2,000)	$	(2,000)		
					
Carryover From Prior Year	0	2,000	2,000	Carryover Balance From Prior Years	
					
NET EXCESS/ (SHORTFALL)	$	(4,509)	$	-	$	-		

4/27/2018 2:20 PM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET
HIGH RIDGE/QUANTUM COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	FISCAL YEAR 2016/2017 ACTUAL	FISCAL YEAR 2017/2018 BUDGET	FISCAL YEAR 2018/2019 BUDGET	

COMMENTS	

Interest Income	
93	
0	
0	
Projected Interest For 2018/2019	

NAV Tax Collection	
136,612	
120,996	
120,996	
Yearly Maximum Debt Assessment	

Total Revenues	
$	136,705	
$	120,996	
$	120,996		

EXPENDITURES					

Principal Payments	
80,000	
80,000	
80,000	
Principal Payment Due In 2019	

Interest Payments	
32,390	
39,312	
37,296	
Interest Payments Due In 2019	

Bond Redemption	
0	
1,684	
3,700	
Estimated Excess Debt Collections	

Total Expenditures	
$	112,390	
$	120,996	
$	120,996		

Excess/ (Shortfall)	
$	24,315	
$	-	
$	-		

Series 2017 Bond Refunding Information

Original Par Amount =	$1,680,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	2.52% - 5.75%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	January 2017			
Maturity Date =

Par Amount As Of 1/1/18 =	May 2035

$1,600,000			

4/27/2018 2:20 PM	III

High Ridge/Quantum Community Development District Assessment Comparison

Original	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
Projected	2015/2016	2016/2017	2017/2018	2018/2019	
  Assessment*	  Assessment*	  Assessment*	 	Assessment*		Projected Assessment*	

O & M	

$	377.48	

$	336.44	

$	353.98	

$	390.38	

$	389.75	
Debt	$	957.28	$	942.90	$	925.32	$	830.45	$	830.45	

Total	
$	
1,334.76	
$	
1,279.34	
$	
1,279.30	
$	
1,220.83	
$	
1,220.20	

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

Community Information:		     Total Units	155

4/27/2018 2:20 PM	IV