High Ridge/Quantum Community Development District

Proposed Budget For Fiscal Year 2019/2020
October 1, 2019 - September 30, 2020

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

PROPOSED BUDGET
HIGH RIDGE/QUANTUM COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2019/2020 BUDGET	
O & M Assessments	60,409	
Debt Assessments	128,719	
Other Revenues	0	
Interest Income	120	
		
TOTAL REVENUES	$	189,248	
		
EXPENDITURES		
Supervisor Fees	5,000	
Payroll Taxes (Employer)	400	
Engineering	1,500	
Management	20,448	
Secretarial	3,000	
Legal	7,000	
Assessment Roll	3,000	
Audit Fees	3,600	
Insurance	6,356	
Legal Advertisements	1,350	
Miscellaneous	800	
Postage	200	
Office Supplies	375	
Dues & Subscriptions	175	
Trustee Fee	3,600	
Continuing Disclosure Fee	0	
Website Management	2,000	
		
TOTAL EXPENDITURES	$	58,804	
		
REVENUES LESS EXPENDITURES	$	130,444	
		
Bond Payments	(120,996)	
		
BALANCE	$	9,448	
		
County Appraiser & Tax Collector Fee	(3,783)	
Discounts For Early Payments	(7,565)	
		
EXCESS/ (SHORTFALL)	$	(1,900)	
		
Carryover From Prior Year	1,900	
		
NET EXCESS/ (SHORTFALL)	$	-	

4/1/2019  10:03 AM	I

DETAILED PROPOSED BUDGET
HIGH RIDGE/QUANTUM COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	

FISCAL YEAR 2017/2018
ACTUAL	

FISCAL YEAR 2018/2019
BUDGET	

FISCAL YEAR 2019/2020
BUDGET	

COMMENTS	
O & M Assessments	60,616	60,412	60,409	Expenditures Less Interest & Carryover/.94	
Debt Assessments	128,719	128,719	128,719	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	151	120	120	Interest Projected At $10 Per Month	
					
TOTAL REVENUES	$	189,486	$	189,251	$	189,248		
					
EXPENDITURES					
Supervisor Fees	4,000	5,000	5,000	Supervisor Fees	
Payroll Taxes (Employer)	306	400	400	Projected At 8% Of Supervisor Fees	
Engineering	0	1,500	1,500	No Change From 2018/2019 Budget	
Management	19,668	20,076	20,448	CPI Adjustment	
Secretarial	3,000	3,000	3,000	No Change From 2018/2019 Budget	
Legal	5,164	7,000	7,000	No Change From 2018/2019 Budget	
Assessment Roll	3,000	3,000	3,000	As Per Contract	
Audit Fees	3,500	3,500	3,600	$100 Increase From 2018/2019 Budget	
Insurance	5,778	6,356	6,356	No Change From 2018/2019 Budget	
Legal Advertisements	571	1,400	1,350	$50 Decrease From 2018/2019 Budget	
Miscellaneous	220	800	800	No Change From 2018/2019 Budget	
Postage	56	225	200	$25 Decrease From 2018/2019 Budget	
Office Supplies	227	375	375	No Change From 2018/2019 Budget	
Dues & Subscriptions	175	175	175	No Change From 2018/2019 Budget	
Trustee Fee	3,180	3,600	3,600	No Change From 2018/2019 Budget	
Continuing Disclosure Fee	0	1,000	0	Prager Is No Longer Charging Fee	
Website Management	1,500	1,500	2,000	$500 Increase From 2018/2019 Budget	
					
TOTAL EXPENDITURES	$	50,345	$	58,907	$	58,804		
					
REVENUES LESS EXPENDITURES	$	139,141	$	130,344	$	130,444		
					
Bond Payments	(122,577)	(120,996)	(120,996)	2020 P & I Payments Less Earned Interest	
					
BALANCE	$	16,564	$	9,348	$	9,448		
					
County Appraiser & Tax Collector Fee	(1,021)	(3,783)	(3,783)	Two Percent Of Total Tax Roll	
Discounts For Early Payments	(7,209)	(7,565)	(7,565)	Four Percent Of Total Tax Roll	
					
EXCESS/ (SHORTFALL)	$	8,334	$	(2,000)	$	(1,900)		
					
Carryover From Prior Year	0	2,000	1,900	Carryover Balance From Prior Years	
					
NET EXCESS/ (SHORTFALL)	$	8,334	$	-	$	-		

4/1/2019 10:03 AM	II

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
HIGH RIDGE/QUANTUM COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2017/2018 ACTUAL	FISCAL YEAR 2018/2019 BUDGET	FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	

Interest Income	
137	
0	
0	
Projected Interest For 2019/2020	

NAV Tax Collection	
122,577	
120,996	
120,996	
Yearly Maximum Debt Assessment	

Total Revenues	
$	122,714	
$	120,996	
$	120,996		

EXPENDITURES					

Principal Payments	
80,000	
80,000	
80,000	
Principal Payment Due In 2020	

Interest Payments	
40,320	
37,296	
35,280	
Interest Payments Due In 2020	

Bond Redemption	
0	
3,700	
5,716	
Estimated Excess Debt Collections	

Total Expenditures	
$	120,320	
$	120,996	
$	120,996		

Excess/ (Shortfall)	
$	2,394	
$	-	
$	-		

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 1/1/19 =	May 2035

$1,520,000			

4/1/2019 10:03 AM	III

High Ridge/Quantum Community Development District Assessment Comparison

Original	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
Projected	2016/2017	2017/2018	2018/2019	2019/2020	
  Assessment*	  Assessment*	  Assessment*	    Assessment*		Projected Assessment*	

O & M	

$	377.48	

$	353.98	

$	390.38	

$	389.75	

$	389.74	
Debt	$	957.28	$	925.32	$	830.45	$	830.45	$	830.45	

Total	
$	
1,334.76	
$	
1,279.30	
$	
1,220.83	
$	
1,220.20	
$	
1,220.19	

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

Community Information:		     Total Units	155

4/1/2019 10:03 AM	IV