High Ridge/Quantum 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
HIGH RIDGE/QUANTUM COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2021/2022 BUDGET	
O & M Assessments	60,329	
Debt Assessments	128,719	
Other Revenues	0	
Interest Income	120	
		
TOTAL REVENUES	$	189,168	
		
EXPENDITURES		
Supervisor Fees	5,000	
Payroll Taxes (Employer)	400	
Engineering	1,500	
Management	21,204	
Secretarial	3,000	
Legal	7,000	
Assessment Roll	3,000	
Audit Fees	3,200	
Insurance	6,000	
Legal Advertisements	1,400	
Miscellaneous	750	
Postage	175	
Office Supplies	375	
Dues & Subscriptions	175	
Trustee Fee	3,200	
Website Management	2,000	
		
TOTAL EXPENDITURES	$	58,379	
		
REVENUES LESS EXPENDITURES	$	130,789	
		
Bond Payments	(120,996)	
		
BALANCE	$	9,793	
		
County Appraiser & Tax Collector Fee	(3,781)	
Discounts For Early Payments	(7,562)	
		
EXCESS/ (SHORTFALL)	$	(1,550)	
		
Carryover From Prior Year	1,550	
		
NET EXCESS/ (SHORTFALL)	$	(0)	

5/2/2021 8:10 AM	I

DETAILED FINAL BUDGET
HIGH RIDGE/QUANTUM 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	
O & M Assessments	60,690	60,368	60,329	Expenditures Less Interest & Carryover/.94	
Debt Assessments	128,720	128,719	128,719	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	237	120	120	Interest Projected At $10 Per Month	
					
TOTAL REVENUES	$	189,647	$	189,207	$	189,168		
					
EXPENDITURES					
Supervisor Fees	3,600	5,000	5,000	Supervisor Fees	
Payroll Taxes (Employer)	275	400	400	Projected At 8% Of Supervisor Fees	
Engineering	0	1,500	1,500	No Change From 2020/2021 Budget	
Management	20,448	20,916	21,204	CPI Adjustment	
Secretarial	3,000	3,000	3,000	No Change From 2020/2021 Budget	
Legal	5,541	7,000	7,000	No Change From 2020/2021 Budget	
Assessment Roll	3,000	3,000	3,000	As Per Contract	
Audit Fees	3,000	3,100	3,200	Accepted Amount For 2020/2021 Audit	
Insurance	5,251	6,000	6,000	Insurance Estimate	
Legal Advertisements	1,187	1,400	1,400	No Change From 2020/2021 Budget	
Miscellaneous	312	775	750	$25 Decrease From 2020/2021 Budget	
Postage	102	175	175	No Change From 2020/2021 Budget	
Office Supplies	238	375	375	No Change From 2020/2021 Budget	
Dues & Subscriptions	175	175	175	No Change From 2020/2021 Budget	
Trustee Fee	3,180	3,600	3,200	$400 Decrease From 2020/2021 Budget	
Website Management	2,000	2,000	2,000	No Change From 2020/2021 Budget	
					
TOTAL EXPENDITURES	$	51,309	$	58,416	$	58,379		
					
REVENUES LESS EXPENDITURES	$	138,338	$	130,791	$	130,789		
					
Bond Payments	(122,733)	(120,996)	(120,996)	2022 P & I Payments Less Earned Interest	
					
BALANCE	$	15,605	$	9,795	$	9,793		
					
County Appraiser & Tax Collector Fee	(1,119)	(3,782)	(3,781)	Two Percent Of Total Tax Roll	
Discounts For Early Payments	(7,013)	(7,563)	(7,562)	Four Percent Of Total Tax Roll	
					
EXCESS/ (SHORTFALL)	$	7,473	$	(1,550)	$	(1,550)		
					
Carryover From Prior Year	0	1,550	1,550	Carryover Balance From Prior Years	
					
NET EXCESS/ (SHORTFALL)	$	7,473	$	-	$	(0)		

5/2/2021 8:10 AM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET
HIGH RIDGE/QUANTUM 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	
40	
0	
0	
Projected Interest For 2021/2022	

NAV Tax Collection	
122,733	
120,996	
120,996	
Yearly Maximum Debt Assessment	

Total Revenues	
$	122,772	
$	120,996	
$	120,996		

EXPENDITURES					

Principal Payments	
80,000	
85,000	
90,000	
Principal Payment Due In 2022	

Interest Payments	
36,288	
33,201	
30,996	
Interest Payments Due In 2022	

Bond Redemption	
6,484	
2,795	
0	
Estimated Excess Debt Collections	

Total Expenditures	
$	122,772	
$	120,996	
$	120,996		

Excess/ (Shortfall)	
$	-	
$	-	
$	-		

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 1/1/21 =	May 2035

$1,360,000			

5/2/2021  8:10 AM	III

High Ridge/Quantum Community Development District Assessment Comparison

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

O & M	

$	377.48	

$	389.75	

$	389.74	

$	389.48	

$	389.23	
Debt	$	957.28	$	830.45	$	830.45	$	830.45	$	830.45	

Total	
$	
1,334.76	
$	
1,220.20	
$	
1,220.19	
$	
1,219.93	
$	
1,219.68	

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

Community Information:		     Total Units	155

5/2/2021 8:10 AM	IV