High Ridge/Quantum Community Development District

Final Budget For Fiscal Year 2024/2025
October 1, 2024 - September 30, 2025

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

FINAL BUDGET
HIGH RIDGE/QUANTUM COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	
FISCAL YEAR 2024/2025 BUDGET	
O & M Assessments	51,923	
Debt Assessments	128,719	
Other Revenues	0	
Interest Income	480	
		
TOTAL REVENUES	$	181,122	
		
EXPENDITURES		
Supervisor Fees	5,000	
Payroll Taxes (Employer)	400	
Engineering	1,500	
Management	23,160	
Secretarial	3,000	
Legal	7,000	
Assessment Roll	3,000	
Audit Fees	3,500	
Insurance	7,200	
Legal Advertisements	1,400	
Miscellaneous	575	
Postage	150	
Office Supplies	350	
Dues & Subscriptions	175	
Trustee Fee	3,200	
Website Management	2,000	
		
TOTAL EXPENDITURES	$	61,610	
		
REVENUES LESS EXPENDITURES	$	119,512	
		
Bond Payments	(120,996)	
		
BALANCE	$	(1,484)	
		
County Appraiser & Tax Collector Fee	(3,612)	
Discounts For Early Payments	(7,226)	
		
EXCESS/ (SHORTFALL)	$	(12,322)	
		
Carryover From Prior Year	12,322	
		
NET EXCESS/ (SHORTFALL)	$	-	

5/3/2024 7:58 AM	I

DETAILED FINAL BUDGET
HIGH RIDGE/QUANTUM COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	
FISCAL YEAR 2022/2023
ACTUAL	
FISCAL YEAR 2023/2024
BUDGET	
FISCAL YEAR 2024/2025
BUDGET	

COMMENTS	
O & M Assessments	57,541	55,370	51,923	Expenditures Less Interest & Carryover/.94	
Debt Assessments	128,789	128,719	128,719	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	2,476	240	480	Interest Projected At $40 Per Month	
					
TOTAL REVENUES	$	188,806	$	184,329	$	181,122		
					
EXPENDITURES					
Supervisor Fees	3,200	5,000	5,000	Supervisor Fees	
Payroll Taxes (Employer)	245	400	400	Projected At 8% Of Supervisor Fees	
Engineering	0	1,500	1,500	No Change From 2023/2024 Budget	
Management	21,840	22,488	23,160	CPI Adjustment (Capped At 3%)	
Secretarial	3,000	3,000	3,000	No Change From 2023/2024 Budget	
Legal	6,133	7,000	7,000	No Change From 2023/2024 Budget	
Assessment Roll	3,000	3,000	3,000	As Per Contract	
Audit Fees	3,300	3,400	3,500	$100 Increase From 2023/2024 Budget	
Insurance	6,134	6,600	7,200	Fiscal Year 2023/2024 Expenditure Was $6,594	
Legal Advertisements	1,214	1,400	1,400	No Change From 2023/2024 Budget	
Miscellaneous	210	625	575	$50 Decrease From 2023/2024 Budget	
Postage	83	150	150	No Change From 2023/2024 Budget	
Office Supplies	261	350	350	No Change From 2023/2024 Budget	
Dues & Subscriptions	175	175	175	No Change From 2023/2024 Budget	
Trustee Fee	3,180	3,200	3,200	No Change From 2023/2024 Budget	
Website Management	2,000	2,000	2,000	No Change From 2023/2024 Budget	
					
TOTAL EXPENDITURES	$	53,975	$	60,288	$	61,610		
					
REVENUES LESS EXPENDITURES	$	134,831	$	124,041	$	119,512		
					
Bond Payments	(122,776)	(120,996)	(120,996)	2025 Principal & Interest Payments	
					
BALANCE	$	12,055	$	3,045	$	(1,484)		
					
County Appraiser & Tax Collector Fee	(2,325)	(3,682)	(3,612)	Two Percent Of Total Tax Roll	
Discounts For Early Payments	(6,935)	(7,363)	(7,226)	Four Percent Of Total Tax Roll	
					
EXCESS/ (SHORTFALL)	$	2,795	$	(8,000)	$	(12,322)		
					
Carryover From Prior Year	0	8,000	12,322	Carryover Balance From Prior Years	
					
NET EXCESS/ (SHORTFALL)	$	2,795	$	-	$	-		

5/3/2024 7:58 AM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET
HIGH RIDGE/QUANTUM COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	FISCAL YEAR 2022/2023 ACTUAL	FISCAL YEAR 2023/2024 BUDGET	FISCAL YEAR 2024/2025 BUDGET	

COMMENTS	

Interest Income	
2,690	
100	
400	
Projected Interest For 2024/2025	

NAV Tax Collection	
122,776	
120,996	
120,996	
Yearly Maximum Debt Assessment	

Total Revenues	
$	125,466	
$	121,096	
$	121,396		

EXPENDITURES					

Principal Payments	
85,000	
90,000	
95,000	
Principal Payment Due In 2025	

Interest Payments	
29,862	
26,586	
24,255	
Interest Payments Due In 2025	

Bond Redemption	
0	
4,510	
2,141	
Estimated Excess Debt Collections	

Total Expenditures	
$	114,862	
$	121,096	
$	121,396		

Excess/ (Shortfall)	
$	10,604	
$	-	
$	-		

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 1/1/24 =	May 2035

$1,100,000			

5/3/2024 7:58 AM	III

High Ridge/Quantum Community Development District Assessment Comparison

Original	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
Projected	2021/2022	2022/2023	2023/2024	2024/2025	
 Assessment* 	 Assessment* 	 Assessment* 	  Assessment*		Projected Assessment*	

O & M	

$	377.48	

$	389.23	

$	369.57	

$	357.23	

$	335.00	
Debt	$	957.28	$	830.45	$	830.45	$	830.45	$	830.45	
Total	$	1,334.76	$	1,219.68	$	1,200.02	$	1,187.68	$	1,165.45	

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

5/3/2024 7:58 AM	IV