High Ridge/Quantum Community Development District

Proposed Budget For Fiscal Year 2022/2023
October 1, 2022 - September 30, 2023

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 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2022/2023
BUDGET	
O & M Assessments	57,282	
Debt Assessments	128,719	
Other Revenues	0	
Interest Income	120	
		
TOTAL REVENUES	$	186,121	
		
EXPENDITURES		
Supervisor Fees	5,000	
Payroll Taxes (Employer)	400	
Engineering	1,500	
Management	21,840	
Secretarial	3,000	
Legal	7,000	
Assessment Roll	3,000	
Audit Fees	3,300	
Insurance	6,000	
Legal Advertisements	1,400	
Miscellaneous	650	
Postage	150	
Office Supplies	350	
Dues & Subscriptions	175	
Trustee Fee	3,200	
Website Management	2,000	
		
TOTAL EXPENDITURES	$	58,965	
		
REVENUES LESS EXPENDITURES	$	127,156	
		
Bond Payments	(120,996)	
		
BALANCE	$	6,160	
		
County Appraiser & Tax Collector Fee	(3,720)	
Discounts For Early Payments	(7,440)	
		
EXCESS/ (SHORTFALL)	$	(5,000)	
		
Carryover From Prior Year	5,000	
		
NET EXCESS/ (SHORTFALL)	$	-	

2/28/2022 8:07 AM	I

DETAILED PROPOSED BUDGET
HIGH RIDGE/QUANTUM COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	

FISCAL YEAR 2020/2021
ACTUAL	

FISCAL YEAR 2021/2022
BUDGET	

FISCAL YEAR 2022/2023
BUDGET	

COMMENTS	
O & M Assessments	60,502	60,329	57,282	Expenditures Less Interest & Carryover/.94	
Debt Assessments	128,720	128,719	128,719	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	216	120	120	Interest Projected At $10 Per Month	
					
TOTAL REVENUES	$	189,438	$	189,168	$	186,121		
					
EXPENDITURES					
Supervisor Fees	3,400	5,000	5,000	Supervisor Fees	
Payroll Taxes (Employer)	260	400	400	Projected At 8% Of Supervisor Fees	
Engineering	0	1,500	1,500	No Change From 2021/2022 Budget	
Management	20,916	21,204	21,840	CPI Adjustment (Capped At 3%)	
Secretarial	3,000	3,000	3,000	No Change From 2021/2022 Budget	
Legal	6,255	7,000	7,000	No Change From 2021/2022 Budget	
Assessment Roll	3,000	3,000	3,000	As Per Contract	
Audit Fees	3,100	3,200	3,300	Accepted Amount For 2021/2022 Audit	
Insurance	5,513	6,000	6,000	Insurance Estimate	
Legal Advertisements	1,496	1,400	1,400	No Change From 2021/2022 Budget	
Miscellaneous	243	750	650	$100 Decrease From 2021/2022 Budget	
Postage	64	175	150	$25 Decrease From 2021/2022 Budget	
Office Supplies	196	375	350	$25 Decrease From 2021/2022 Budget	
Dues & Subscriptions	175	175	175	No Change From 2021/2022 Budget	
Trustee Fee	3,180	3,200	3,200	No Change From 2021/2022 Budget	
Website Management	2,000	2,000	2,000	No Change From 2021/2022 Budget	
					
TOTAL EXPENDITURES	$	52,798	$	58,379	$	58,965		
					
REVENUES LESS EXPENDITURES	$	136,640	$	130,789	$	127,156		
					
Bond Payments	(122,641)	(120,996)	(120,996)	2023 P & I Payments Less Earned Interest	
					
BALANCE	$	13,999	$	9,793	$	6,160		
					
County Appraiser & Tax Collector Fee	(1,334)	(3,781)	(3,720)	Two Percent Of Total Tax Roll	
Discounts For Early Payments	(7,123)	(7,562)	(7,440)	Four Percent Of Total Tax Roll	
					
EXCESS/ (SHORTFALL)	$	5,542	$	(1,550)	$	(5,000)		
					
Carryover From Prior Year	0	1,550	5,000	Carryover Balance From Prior Years	
					
NET EXCESS/ (SHORTFALL)	$	5,542	$	(0)	$	-		

2/28/2022 8:07 AM	II

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
HIGH RIDGE/QUANTUM COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	FISCAL YEAR 2020/2021 ACTUAL	FISCAL YEAR 2021/2022 BUDGET	FISCAL YEAR 2022/2023 BUDGET	

COMMENTS	

Interest Income	
4	
0	
0	
Projected Interest For 2022/2023	

NAV Tax Collection	
122,641	
120,996	
120,996	
Yearly Maximum Debt Assessment	

Total Revenues	
$	122,645	
$	120,996	
$	120,996		

EXPENDITURES					

Principal Payments	
85,000	
90,000	
85,000	
Principal Payment Due In 2023	

Interest Payments	
34,272	
30,996	
28,791	
Interest Payments Due In 2023	

Bond Redemption	
3,373	
0	
7,205	
Estimated Excess Debt Collections	

Total Expenditures	
$	122,645	
$	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 1/1/22 =	May 2035

$1,275,000			

2/28/2022  8:07 AM	III

High Ridge/Quantum Community Development District Assessment Comparison

Original Projected
  Assessment*	Fiscal Year 2019/2020
  Assessment*	Fiscal Year 2020/2021
  Assessment*	Fiscal Year 2021/2022
     Assessment*		Fiscal Year 2022/2023
Projected Assessment*	

O & M	

$	377.48	

$	389.74	

$	389.48	

$	389.23	

$	369.57	
Debt	$	957.28	$	830.45	$	830.45	$	830.45	$	830.45	

Total	
$	
1,334.76	
$	
1,220.19	
$	
1,219.93	
$	
1,219.68	
$	
1,200.02	

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

Community Information:		      Total Units	155

2/28/2022 8:07 AM	IV