High Ridge/Quantum Community Development District

Final Budget For Fiscal Year 2020/2021
October 1, 2020 - September 30, 2021

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 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2020/2021 BUDGET	
O & M Assessments	60,368	
Debt Assessments	128,719	
Other Revenues	0	
Interest Income	120	
		
TOTAL REVENUES	$	189,207	
		
EXPENDITURES		
Supervisor Fees	5,000	
Payroll Taxes (Employer)	400	
Engineering	1,500	
Management	20,916	
Secretarial	3,000	
Legal	7,000	
Assessment Roll	3,000	
Audit Fees	3,100	
Insurance	6,000	
Legal Advertisements	1,400	
Miscellaneous	775	
Postage	175	
Office Supplies	375	
Dues & Subscriptions	175	
Trustee Fee	3,600	
Website Management	2,000	
		
TOTAL EXPENDITURES	$	58,416	
		
REVENUES LESS EXPENDITURES	$	130,791	
		
Bond Payments	(120,996)	
		
BALANCE	$	9,795	
		
County Appraiser & Tax Collector Fee	(3,782)	
Discounts For Early Payments	(7,563)	
		
EXCESS/ (SHORTFALL)	$	(1,550)	
		
Carryover From Prior Year	1,550	
		
NET EXCESS/ (SHORTFALL)	$	-	

8/1/2020 2:22 PM	I

DETAILED FINAL BUDGET
HIGH RIDGE/QUANTUM COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	

FISCAL YEAR 2018/2019
ACTUAL	

FISCAL YEAR 2019/2020
BUDGET	

FISCAL YEAR 2020/2021
BUDGET	

COMMENTS	
O & M Assessments	60,651	60,409	60,368	Expenditures Less Interest & Carryover/.94	
Debt Assessments	128,720	128,719	128,719	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	168	120	120	Interest Projected At $10 Per Month	
					
TOTAL REVENUES	$	189,539	$	189,248	$	189,207		
					
EXPENDITURES					
Supervisor Fees	4,400	5,000	5,000	Supervisor Fees	
Payroll Taxes (Employer)	337	400	400	Projected At 8% Of Supervisor Fees	
Engineering	0	1,500	1,500	No Change From 2019/2020 Budget	
Management	20,076	20,448	20,916	CPI Adjustment	
Secretarial	3,000	3,000	3,000	No Change From 2019/2020 Budget	
Legal	5,414	7,000	7,000	No Change From 2019/2020 Budget	
Assessment Roll	3,000	3,000	3,000	As Per Contract	
Audit Fees	3,500	3,600	3,100	Accepted Amount For 2019/2020 Audit	
Insurance	5,000	6,356	6,000	Insurance Estimate	
Legal Advertisements	1,503	1,350	1,400	$50 Increase From 2019/2020 Budget	
Miscellaneous	358	800	775	$25 Decrease From 2019/2020 Budget	
Postage	84	200	175	$25 Decrease From 2019/2020 Budget	
Office Supplies	340	375	375	No Change From 2019/2020 Budget	
Dues & Subscriptions	175	175	175	No Change From 2019/2020 Budget	
Trustee Fee	3,180	3,600	3,600	No Change From 2019/2020 Budget	
Website Management	1,500	2,000	2,000	No Change From 2019/2020 Budget	
					
TOTAL EXPENDITURES	$	51,867	$	58,804	$	58,416		
					
REVENUES LESS EXPENDITURES	$	137,672	$	130,444	$	130,791		
					
Bond Payments	(122,717)	(120,996)	(120,996)	2021 P & I Payments Less Earned Interest	
					
BALANCE	$	14,955	$	9,448	$	9,795		
					
County Appraiser & Tax Collector Fee	(930)	(3,783)	(3,782)	Two Percent Of Total Tax Roll	
Discounts For Early Payments	(7,036)	(7,565)	(7,563)	Four Percent Of Total Tax Roll	
					
EXCESS/ (SHORTFALL)	$	6,989	$	(1,900)	$	(1,550)		
					
Carryover From Prior Year	0	1,900	1,550	Carryover Balance From Prior Years	
					
NET EXCESS/ (SHORTFALL)	$	6,989	$	-	$	-		

8/1/2020 2:22 PM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET
HIGH RIDGE/QUANTUM COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2018/2019 ACTUAL	FISCAL YEAR 2019/2020 BUDGET	FISCAL YEAR 2020/2021 BUDGET	

COMMENTS	

Interest Income	
2,658	
0	
0	
Projected Interest For 2020/2021	

NAV Tax Collection	
120,235	
120,996	
120,996	
Yearly Maximum Debt Assessment	

Total Revenues	
$	122,893	
$	120,996	
$	120,996		

EXPENDITURES					

Principal Payments	
80,000	
80,000	
85,000	
Principal Payment Due In 2021	

Interest Payments	
38,304	
35,280	
33,201	
Interest Payments Due In 2021	

Bond Redemption	
0	
5,716	
2,795	
Estimated Excess Debt Collections	

Total Expenditures	
$	118,304	
$	120,996	
$	120,996		

Excess/ (Shortfall)	
$	4,589	
$	-	
$	-		

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 1/1/20 =	May 2035

$1,440,000			

8/1/2020 2:22 PM	III

High Ridge/Quantum Community Development District Assessment Comparison

Original	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
Projected	2017/2018	2018/2019	2019/2020	2020/2021	
  Assessment*	  Assessment*	  Assessment*	    Assessment*		Projected Assessment*	

O & M	

$	377.48	

$	390.38	

$	389.75	

$	389.74	

$	389.48	
Debt	$	957.28	$	830.45	$	830.45	$	830.45	$	830.45	

Total	
$	
1,334.76	
$	
1,220.83	
$	
1,220.20	
$	
1,220.19	
$	
1,219.93	

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

Community Information:		     Total Units	155

8/1/2020 2:22 PM	IV