Black Creek Community Development District

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

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2020)

DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2022)

ASSESSMENT COMPARISON

FINAL BUDGET
BLACK CREEK COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2022/2023 BUDGET	
Administrative Assessments	141,656	
Maintenance Assessments	354,787	
Debt Assessments (2020)	263,617	
Debt Assessments (2022)	1,298,238	
Developer Contribution - Debt	0	
Other Revenue	0	
Interest Income	0	
		
TOTAL REVENUES	$	2,058,299	
EXPENDITURES		
Maintenance Expenditures		
Annual Engineer's Report & Inspections	2,000	
Field Operations Management	1,500	
Street/Roadway Maintenance/Signage	3,000	
Miscellaneous Maintenance	3,000	
Wall Feature Maintenance/Upkeep	4,000	
Landscape Maintenance	10,000	
Maintenance Contingency	310,000	
TOTAL MAINTENANCE EXPENDITURES	$	333,500	
		
Administrative Expenditures		
Supervisor Fees	0	
Management	27,612	
Legal	12,000	
Legal - Extraordinary	0	
Assessment Roll	6,000	
Audit Fees	5,500	
Arbitrage Rebate Fee	650	
Insurance	6,420	
Legal Advertisements	1,500	
Miscellaneous	1,000	
Postage	525	
Office Supplies	525	
Dues & Subscriptions	175	
Trustee Fees	4,250	
Continuing Disclosure Fee	1,000	
Website Management	2,000	
Administrative Contingency	64,000	
TOTAL ADMINISTRATIVE EXPENDITURES	$	133,157	
		
TOTAL EXPENDITURES	$	466,657	

REVENUES LESS EXPENDITURES	$	1,591,642	
		
Bond Payments (2020)	(247,800)	
Bond Payments (2022)	(1,220,344)	
		
BALANCE	$	123,498	
		
County Appraiser & Tax Collector Fee	(41,166)	
Discounts For Early Payments	(82,332)	
		
EXCESS/ (SHORTFALL)	$	(0)	

DETAILED FINAL BUDGET
BLACK CREEK 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	
Administrative Assessments	72,997	73,227	141,656	Expenditures Less Interest /.94	
Maintenance Assessments	17,879	17,553	354,787	Expenditures/.94	
Debt Assessments (2020)	263,618	263,617	263,617	Bond Payments/.94	
Debt Assessments (2022)	0	0	1,298,238	Bond Payments/.94	
Developer Contribution - Debt	81,388	0	0		
Other Revenue	17,944	0	0		
Interest Income	0	0	0	Projected At $0 Per Month	
TOTAL REVENUES	$	453,826	$	354,397	$	2,058,299		
					
EXPENDITURES					
Maintenance Expenditures					
Annual Engineer's Report & Inspections	1,165	2,000	2,000	No Change From 2021/2022 Budget	
Field Operations Management	0	1,500	1,500	Field Operations Management	
Street/Roadway Maintenance/Signage	0	3,000	3,000	No Change From 2021/2022 Budget	
Miscellaneous Maintenance	0	3,000	3,000	No Change From 2021/2022 Budget	
Wall Feature Maintenance/Upkeep	0	4,000	4,000	No Change From 2021/2022 Budget	
Landscape Maintenance	0	0	10,000	Landscape Maintenance	
Maintenance Contingency	0	3,000	310,000	Maintenance Contingency	
TOTAL MAINTENANCE EXPENDITURES	$	1,165	$	16,500	$	333,500		
					
Administrative Expenditures					
Supervisor Fees	0	0	0		
Management	26,448	26,808	27,612	CPI Adjustment (Capped at 3%)	
Legal	13,265	12,000	12,000	No Change From 2021/2022 Budget	
Legal - Extraordinary	6,000	0	0		
Assessment Roll	0	6,000	6,000	Assessment Roll	
Audit Fees	3,800	5,400	5,500	Increased Due To Second Bond Issue	
Arbitrage Rebate Fee	0	650	650	Arbitrage Rebate Fee	
Insurance	5,513	6,000	6,420	Insurance Estimate	
Legal Advertisements	2,729	1,500	1,500	No Change From 2021/2022 Budget	
Miscellaneous	190	1,000	1,000	No Change From 2021/2022 Budget	
Postage	284	525	525	No Change From 2021/2022 Budget	
Office Supplies	126	525	525	No Change From 2021/2022 Budget	
Dues & Subscriptions	175	175	175	No Change From 2021/2022 Budget	
Trustee Fees	4,031	4,250	4,250	No Change From 2021/2022 Budget	
Continuing Disclosure Fee	500	1,000	1,000	No Change From 2021/2022 Budget	
Website Management	2,000	2,000	2,000	No Change From 2021/2022 Budget	
Administrative Contingency	0	1,000	64,000	Administrative Contingency	
TOTAL ADMINISTRATIVE EXPENDITURES	$	65,061	$	68,833	$	133,157		
					
TOTAL EXPENDITURES	$	66,226	$	85,333	$	466,657		

REVENUES LESS EXPENDITURES	$	387,600	$	269,064	$	1,591,642		
					
Bond Payments (2020)	(331,930)	(247,800)	(247,800)	2023 P & I Payments	
Bond Payments (2022)	0	0	(1,220,344)	2023 P & I Payments	
					
BALANCE	$	55,670	$	21,264	$	123,498		
					
County Appraiser & Tax Collector Fee	(3,403)	(7,088)	(41,166)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(14,179)	(14,176)	(82,332)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	38,088	$	-	$	(0)		

DETAILED FINAL DEBT SERVICE FUND (SERIES 2020) BUDGET
BLACK CREEK 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	
12	
25	
25	
Projected Interest For FY 2022/2023	

Payment By Developer	
81,388	
0	
0		

NAV Tax Collection	
250,542	
247,800	
247,800	
Maximum Debt Service Collection	

Total Revenues	
$	331,942	
$	247,825	
$	247,825		

EXPENDITURES					

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

Interest Payments	
162,775	
158,951	
156,325	
Interest Payments Due In 2023	

Transfer To Construction Fund	
6	
0	
0		

Bond Redemption	
0	
3,874	
1,500	
Estimated Excess Debt Collections	

Total Expenditures	
$	247,781	
$	247,825	
$	247,825		

Excess/ (Shortfall)	
$	84,161	
$	-	
$	-		

Series 2020 Bond Information

Original Par Amount =	$4,365,000	Annual Principal Payments Due =	June 15th	
Interest Rate =	3.00% - 4.00%	Annual Interest Payments Due =	June 15th & December 15th	
Issue Date =	January 2020			
Maturity Date =

Par Amount As Of 1/1/22 =	June 2050

$4,280,000			

DETAILED FINAL DEBT SERVICE FUND (SERIES 2022) BUDGET
BLACK CREEK 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	
0	
0	
25	
Projected Interest For FY 2022/2023	

Bond Proceeds	
0	
0	
0		

NAV Tax Collection	
0	
0	
1,220,344	
Maximum Debt Service Collection	

Total Revenues	
$	-	
$	-	
$	1,220,369		

EXPENDITURES					

Principal Payments	
0	
0	
245,000	
Principal Payment Due In 2023	

Interest Payments	
0	
0	
971,769	
Interest Payments Due In 2023	

Bond Redemption	
0	
0	
3,600	
Estimated Excess Debt Collections	

Total Expenditures	
$	-	
$	-	
$	1,220,369		

Excess/ (Shortfall)	
$	-	
$	-	
$	-		

Black Creek Community Development District Assessment Comparison

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

Original Units		
Administrative Assessment For Townhomes	$	-	$	333.25	$	334.37	$	118.05	
Maintenance Assessment For Townhomes	$	-	$	81.64	$	80.16	$	295.66	
Debt Assessment For Townhomes	$	- 	$	1,156.63	$	1,156.63	$	1,156.63	
Total	$	-	$	1,571.52	$	1,571.16	$	1,570.34	

Administrative Assessment For Single Family Homes	
$	-	
$	333.25	
$	334.37	
$	118.05	
Maintenance Assessments For Single Family Homes	$	-	$	81.64	$	80.16	$	295.66	
Debt Assessment For Single Family Homes	$	- 	$	1,260.83	$	1,260.83	$	1,260.83	
Total	$	-	$	1,675.72	$	1,675.36	$	1,674.54	

Expansion Units					
Administrative Assessment For Villas	$	-	$	-	$	-	$	118.05	
Maintenance Assessment For Villas	$	-	$	-	$	-	$	295.66	
Debt Assessment For Villas	$	- 	$	- 	$	- 	$	1,247.65	
Total	$	-	$	-	$	-	$	1,661.36	

Administrative Assessment For Townhomes	
$	-	$	-	$	-	$	118.05	
Maintenance Assessment For Townhomes	$	-	$	-	$	-	$	295.66	
Debt Assessment For Townhomes	$	- 	$	- 	$	- 	$	1,352.89	
Total	$	-	$	-	$	-	$	1,766.60	

Administrative Assessment For Single Family Homes	
$	-	$	-	$	-	$	118.05	
Maintenance Assessments For Single Family Homes	$	-	$	-	$	-	$	295.66	
Debt Assessment For Single Family Homes	$	- 	$	- 	$	- 	$	1,458.13	
Total	$	-	$	-	$	-	$	1,871.84	

Notes
* Assessments Include the Following :		Net Per Unit O&M Covenant amount is $390.00 4% Discount for Early Payments		Gross Per Unit O&M Covenant amount is $414.89 1% County Tax Collector Fee
1% County Property Appraiser Fee

Community Information - Original Units:		Total Units:	
Townhomes	120	Original Units	219	
Single Family Units	99	Expansion Units	981	
Total Units	219	Total Units	1200	
Community Information - Expansion Units:				
Villas	418			
Townhomes	420			
Single Family Units	143			
Total Units	981