Gulfstream Polo 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 (SERIES 2017) IV	DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2019) V	ASSESSMENT COMPARISON

FINAL BUDGET
GULFSTREAM POLO COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2021/2022 BUDGET	
O&M Assessments	78,712	
Debt Assessments - 2017	206,739	
Debt Assessments - 2019	629,288	
Interest Income	60	
		
TOTAL REVENUES	$	914,799	
		
EXPENDITURES		
Supervisor Fees	0	
Engineering/Inspections	2,500	
Management	35,724	
Legal	11,000	
Assessment Roll	5,000	
Audit Fees	5,100	
Arbitrage Rebate Fee	650	
Insurance	5,800	
Legal Advertisements	1,500	
Miscellaneous	600	
Postage	300	
Office Supplies	675	
Dues & Subscriptions	175	
Trustee Fees	7,300	
Continuing Disclosure Fee	1,500	
Reserve	0	
		
TOTAL EXPENDITURES	$	77,824	
		
REVENUES LESS EXPENDITURES	$	836,975	
		
Bond Payments - 2017	(194,335)	
Bond Payments - 2019	(591,531)	
		
BALANCE	$	51,109	
		
County Appraiser & Tax Collector Fee	(18,295)	
Discounts For Early Payments	(36,589)	
		
EXCESS/ (SHORTFALL)	$	(3,775)	
		
Carryover Funds From Prior Year	3,775	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED FINAL BUDGET
GULFSTREAM POLO 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	75,322	78,774	78,712	Expenditures/.94	
Debt Assessments - 2017	206,762	206,739	206,739	Bond Payments/.94	
Debt Assessments - 2019	202,903	629,288	629,288	Bond Payments/.94	
Interest Income	67	60	60	Interest Projected At $5.00 Per Month	
					
TOTAL REVENUES	$	485,054	$	914,861	$	914,799		
					
EXPENDITURES					
Supervisor Fees	0	0	0		
Engineering/Inspections	1,726	2,500	2,500	No Change From 2020/2021 Budget	
Management	34,440	35,232	35,724	CPI Adjustments	
Legal	5,122	12,000	11,000	$1,000 Decrease From 2020/2021 Budget	
Assessment Roll	5,000	5,000	5,000	As Per Contract	
Audit Fees	4,900	5,000	5,100	Accepted Amount For 2020/2021 Audit	
Arbitrage Rebate Fee	650	650	650	For Series 2019 Bond (2017 Qualifies For Small User Exception)	
Insurance	5,000	5,800	5,800	Insurance Estimate	
Legal Advertisements	2,769	1,500	1,500	No Change From 2020/2021 Budget	
Miscellaneous	35	600	600	No Change From 2020/2021 Budget	
Postage	208	300	300	No Change From 2020/2021 Budget	
Office Supplies	231	725	675	$50 Decrease From 2020/2021 Budget	
Dues & Subscriptions	175	175	175	No Change From 2020/2021 Budget	
Trustee Fees	7,211	6,400	7,300	$900 Increase From 2020/2021 Budget	
Continuing Disclosure Fee	1,500	2,000	1,500	$500 Decrease From 2020/2021 Budget	
Reserve	0	0	0		
					
TOTAL EXPENDITURES	$	68,967	$	77,882	$	77,824		
					
REVENUES LESS EXPENDITURES	$	416,087	$	836,979	$	836,975		
					
Bond Payments - 2017	(197,679)	(194,335)	(194,335)	2022 P & I Payments Less Earned Interest	
Bond Payments - 2019	(202,903)	(591,531)	(591,531)	2022 P & I Payments Less Earned Interest	
					
BALANCE	$	15,505	$	51,113	$	51,109		
					
County Appraiser & Tax Collector Fee	(1,373)	(18,296)	(18,295)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(7,795)	(36,592)	(36,589)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	6,337	$	(3,775)	$	(3,775)		
					
Carryover Funds From Prior Year	0	3,775	3,775	Carryover Funds From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	6,337	$	-	$	-		

DETAILED FINAL DEBT SERVICE (SERIES 2017) FUND BUDGET
GULFSTREAM POLO 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	
168	
25	
25	
Projected Interest For 2020/2021	

NAV Tax Collection	
197,679	
194,335	
194,335	
Maximum Debt Service Collection	

Total Revenues	
$	197,847	
$	194,360	
$	194,360		

EXPENDITURES					

Principal Payments	
50,000	
55,000	
55,000	
Principal Payment Due In 2021	

Interest Payments	
131,613	
128,813	
126,888	
Interest Payments Due In 2021	

Bond Redemption	
0	
10,547	
12,472	
Estimated Excess Debt Collections	

Total Expenditures	
$	181,613	
$	194,360	
$	194,360		

Excess/ (Shortfall)	

$	16,234	

$	-	

$	-		

Series 2017 Bond Information

Original Par Amount =	$2,870,000	Annual Principal Payments Due =	November 1st	
Interest Rate =	3.50% - 5.00%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	August 2017			
Maturity Date =

Par Amount As Of 1/1/21 =	November 2047

$2,740,000			

DETAILED FINAL DEBT SERVICE (SERIES 2019) FUND BUDGET
GULFSTREAM POLO 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	
269	
25	
25	
Projected Interest For 2021/2022	

Payment By Developer	
202,903	
0	
0		

NAV Tax Collection	
0	
591,531	
591,531	
Maximum Debt Service Collection	

Total Revenues	
$	203,172	
$	591,556	
$	591,556		

EXPENDITURES					

Principal Payments	
0	
190,000	
195,000	
Principal Payment Due In 2022	

Interest Payments	
281,810	
400,256	
394,556	
Interest Payments Due In 2022	

Transfer To Construction Fund	
247	
0	
0		

Bond Redemption	
0	
1,300	
2,000	
Estimated Excess Debt Collections	

Total Expenditures	
$	282,057	
$	591,556	
$	591,556		

Excess/ (Shortfall)	

$	(78,885)	

$	-	

$	-		

Series 2019 Bond Information

Original Par Amount =	$9,860,000	Annual Principal Payments Due =	November 1st	
Interest Rate =	3.00% - 4.75%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	August 2019			
Maturity Date =

Par Amount As Of 1/1/21 =	November 2049

$9,675,000			

GULFSTREAM POLO COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

Original	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year
Projected	2018/2019	2019/2020	2020/2021	2021/2022
       Assessment*	     	Assessment*	     	Assessment*	     	Assessment*	     	Projected Assessment*	
Pod B		
O & M For Single Family Residential (Pod B)	$	-	$	89.23	$	89.23	$	89.22	$	89.15	
Debt For Single Family Residential (Pod B)	$	1,164.89	$	1,164.89	$	1,164.89	$	1,164.89	$	1,164.89	
Total For Single Family Residential (Pod B)	$	1,164.89	$	1,254.12	$	1,254.12	$	1,254.11	$	1,254.04	

O & M For Zero Lot Line Residential (Pod B)	
$	-	
$	89.23	
$	89.23	
$	89.22	
$	89.15	
Debt For Zero Lot Line Residential (Pod B)	$	1,063.82	$	1,063.82	$	1,063.82	$	1,063.82	$	1,063.82	
Total For Zero Lot Line Residential (Pod B)	$	1,063.82	$	1,153.05	$	1,153.05	$	1,153.04	$	1,152.97	

O & M For Residential Townhomes (Pod B)	
$	-	
$	89.23	
$	89.23	
$	89.22	
$	89.15	
Debt For Residential Townhomes (Pod B)	$	814.89	$	814.89	$	814.89	$	814.89	$	814.89	
Total For Residential Townhomes (Pod B)	$	814.89	$	904.12	$	904.12	$	904.11	$	904.04	

Pods C, D & E										
O & M For Single Family Residential (Pods C, D & E)	$	-	$	-	$	-	$	89.22	$	89.15	

Debt For Single Family Residential (Pods C, D & E)

$	1,159.28

$	-	$	- 

$	1,159.28

$	1,159.28

Total For Single Family Residential (Pod C, D & E)

$	1,159.28	$

-	$	-	$

1,248.50	$

1,248.43

O & M For Zero Lot Line Residential (Pods C, D & E)	$	-	$

-	$	-	$

89.22	$

89.15

Debt For Zero Lot Line Residential (Pods C, D & E)

$	1,058.70

$	-	$	- 

$	1,058.70

$	1,058.70

Total For Zero Lot Line Residential (Pods C, D & E)

$	1,058.70	$

-	$	-	$

1,147.92	$

1,147.85

O & M For Residential Townhomes (Pods C, D & E)	$	-	$

-	$	-	$

89.22	$

89.15

Debt For Residential Townhomes (Pods C, D & E)

$	810.97

$	-	$	- 

$	810.97

$	810.97

Total For Residential Townhomes (Pods C, D & E)	$

810.97	$

-	$	-	$

900.19	$

900.12

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

Community Information:	
Pod B Units	
Total Units		
Single Family Residential:	1	Pod B Units	227	
Zero Lot Line Residential:	86	Pod C, D & E Units	656	
Residential Townhome Units	140
Total Units	227	Total Units	883	

Pod C, D & E Units
Single Family Residential:	56
Zero Lot Line Residential:	314
Residential Townhome Units	286
Total Units	656