Title: HRQ Proposed Budget 2023-2024.xlsx
Author: JWalker

High Ridge/Quantum Community Development District

Proposed Budget For Fiscal Year 2023/2024
October 1, 2023 - September 30, 2024

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

DETAILED PROPOSED BUDGET
HIGH RIDGE/QUANTUM COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES | FISCAL YEAR 2023/2024 BUDGET
O & M Assessments | 55,370
Debt Assessments | 128,719
Other Revenues | 0
Interest Income | 240
TOTAL REVENUES | $	184,329
EXPENDITURES |
Supervisor Fees | 5,000
Payroll Taxes (Employer) | 400
Engineering | 1,500
Management | 22,488
Secretarial | 3,000
Legal | 7,000
Assessment Roll | 3,000
Audit Fees | 3,400
Insurance | 6,600
Legal Advertisements | 1,400
Miscellaneous | 625
Postage | 150
Office Supplies | 350
Dues & Subscriptions | 175
Trustee Fee | 3,200
Website Management | 2,000
TOTAL EXPENDITURES | $	60,288
REVENUES LESS EXPENDITURES | $	124,041
Bond Payments | (120,996)
BALANCE | $	3,045
County Appraiser & Tax Collector Fee | (3,682)
Discounts For Early Payments | (7,363)
EXCESS/ (SHORTFALL) | $	(8,000)
Carryover From Prior Year | 8,000
NET EXCESS/ (SHORTFALL) | $	-

3/31/2023 6:39 PM	^I

DETAILED PROPOSED BUDGET
HIGH RIDGE/QUANTUM COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES

FISCAL YEAR 2021/2022
ACTUAL

FISCAL YEAR 2022/2023
BUDGET

FISCAL YEAR 2023/2024
BUDGET

COMMENTS

O & M Assessments | 60,343 | 57,282 | 55,370 | Expenditures Less Interest & Carryover/.94
Debt Assessments | 128,720 | 128,719 | 128,719 | Bond Payments/.94
Other Revenues | 0 | 0 | 0 |
Interest Income | 12 | 120 | 240 | Interest Projected At $20 Per Month
TOTAL REVENUES | $	189,075 | $	186,121 | $	184,329 |
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 2022/2023 Budget
Management | 21,204 | 21,840 | 22,488 | CPI Adjustment (Capped At 3%)
Secretarial | 3,000 | 3,000 | 3,000 | No Change From 2022/2023 Budget
Legal | 6,326 | 7,000 | 7,000 | No Change From 2022/2023 Budget
Assessment Roll | 3,000 | 3,000 | 3,000 | As Per Contract
Audit Fees | 3,200 | 3,300 | 3,400 | Accepted Amount For 2022/2023 Audit
Insurance | 5,706 | 6,000 | 6,600 | Fiscal Year 2022/2023 Expenditure Was $6,134
Legal Advertisements | 1,478 | 1,400 | 1,400 | No Change From 2022/2023 Budget
Miscellaneous | 437 | 650 | 625 | $25 Decrease From 2022/2023 Budget
Postage | 80 | 150 | 150 | No Change From 2022/2023 Budget
Office Supplies | 336 | 350 | 350 | No Change From 2022/2023 Budget
Dues & Subscriptions | 175 | 175 | 175 | No Change From 2022/2023 Budget
Trustee Fee | 3,180 | 3,200 | 3,200 | No Change From 2022/2023 Budget
Website Management | 2,000 | 2,000 | 2,000 | No Change From 2022/2023 Budget
TOTAL EXPENDITURES | $	54,428 | $	58,965 | $	60,288 |
REVENUES LESS EXPENDITURES | $	134,647 | $	127,156 | $	124,041 |
Bond Payments | (122,660) | (120,996) | (120,996) | 2024 Principal & Interest Payments
BALANCE | $	11,987 | $	6,160 | $	3,045 |
County Appraiser & Tax Collector Fee | (1,279) | (3,720) | (3,682) | Two Percent Of Total Tax Roll
Discounts For Early Payments | (7,193) | (7,440) | (7,363) | Four Percent Of Total Tax Roll
EXCESS/ (SHORTFALL) | $	3,515 | $	(5,000) | $	(8,000) |
Carryover From Prior Year | 0 | 5,000 | 8,000 | Carryover Balance From Prior Years
NET EXCESS/ (SHORTFALL) | $	3,515 | $	- | $	- |

3/31/2023 6:39 PM	^II

DETAILED FINAL DEBT SERVICE FUND BUDGET
HIGH RIDGE/QUANTUM COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2023/2024
OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES | FISCAL YEAR 2021/2022 ACTUAL | FISCAL YEAR 2022/2023 BUDGET | FISCAL YEAR 2023/2024 BUDGET | COMMENTS
Interest Income | 4 | 0 | 100 | Projected Interest For 2023/2024
NAV Tax Collection | 122,660 | 120,996 | 120,996 | Yearly Maximum Debt Assessment
Total Revenues | $	122,664 | $	120,996 | $	121,096 |
EXPENDITURES | | | |
Principal Payments | 90,000 | 85,000 | 90,000 | Principal Payment Due In 2024
Interest Payments | 32,130 | 28,791 | 26,586 | Interest Payments Due In 2024
Bond Redemption | 0 | 7,205 | 4,510 | Estimated Excess Debt Collections
Total Expenditures | $	122,130 | $	120,996 | $	121,096 |
Excess/ (Shortfall) | $	534 | $	- | $	- |

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 1/1/23 =

May 2035

$1,185,000

3/31/2023 6:39 PM	^III

High Ridge/Quantum Community Development District Assessment Comparison

Original Projected
 Assessment*

Fiscal Year 2020/2021
 Assessment*

Fiscal Year 2021/2022
 Assessment*

Fiscal Year 2022/2023
  Assessment*

Fiscal Year 2023/2024
Projected Assessment*

O & M | $	377.48 | $	389.48 | $	389.23 | $	369.57 | $	357.23
Debt | $	957.28 | $	830.45 | $	830.45 | $	830.45 | $	830.45
Total | $ | 1,334.76 | $ | 1,219.93 | $ | 1,219.68 | $ | 1,200.02 | $ | 1,187.68

* Assessments Include the Following : 4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee
Community Information:		 Total Units	155

3/31/2023 6:39 PM	^IV