Islands At Doral (NE) 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

ASSESSMENT COMPARISON

FINAL BUDGET
ISLANDS AT DORAL (NE) COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2022/2023 BUDGET	
Administrative Assessments	57,108	
Maintenance Assessments	7,447	
Debt Assessments	554,723	
Interest Income	120	
		
TOTAL REVENUES	$	619,398	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
Maintenance Contingency	5,700	
Engineering/Inspections	1,300	
TOTAL MAINTENANCE EXPENDITURES	$	7,000	
		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	5,000	
Payroll Taxes (Employer)	400	
Management	31,452	
Secretarial	4,200	
Legal	9,000	
Assessment Roll	7,500	
Audit Fees	3,700	
Arbitrage Rebate Fee	650	
Insurance	6,200	
Legal Advertisements	600	
Miscellaneous	850	
Postage	375	
Office Supplies	450	
Dues & Subscriptions	175	
Trustee Fees	4,100	
Continuing Disclosure Fee	350	
Website Management	2,000	
TOTAL ADMINISTRATIVE EXPENDITURES	$	77,002	
		
TOTAL EXPENDITURES	$	84,002	
		
REVENUES LESS EXPENDITURES	$	535,396	
		
Bond Payments	(524,213)	
		
BALANCE	$	11,183	
		
County Appraiser & Tax Collector Fee	(11,461)	
Discounts For Early Payments	(22,922)	
		
EXCESS/ (SHORTFALL)	$	(23,200)	
		
Carryover From Prior Year	23,200	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED FINAL BUDGET
ISLANDS AT DORAL (NE) 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	58,043	57,127	57,108	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	7,447	7,447	7,447	Expenditures /.94	
Debt Assessments	554,723	554,723	554,723	Bond Payments/.94	
Interest Income	147	180	120	Interest Projected At $10 Per Month	
					
TOTAL REVENUES	$	620,360	$	619,477	$	619,398		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
Maintenance Contingency	0	5,700	5,700	Maintenance Of District Owned Property	
Engineering/Inspections	1,017	1,300	1,300	No Change From 2021/2022 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	1,017	$	7,000	$	7,000		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	1,800	5,000	5,000	No Change From 2021/2022 Budget	
Payroll Taxes (Employer)	138	400	400	Projected At 8% Of Supervisor Fees	
Management	30,120	30,540	31,452	CPI Adjustment (Capped At 3%)	
Secretarial	4,200	4,200	4,200	No Change From 2021/2022 Budget	
Legal	6,342	9,000	9,000	No Change From 2021/2022 Budget	
Assessment Roll	7,500	7,500	7,500	As Per Contract	
Audit Fees	3,500	3,600	3,700	Accepted Amount For 2021/2022 Audit	
Arbitrage Rebate Fee	650	650	650	No Change From 2021/2022 Budget	
Insurance	5,513	6,200	6,200	Insurance Estimate	
Legal Advertisements	372	600	600	No Change From 2021/2022 Budget	
Miscellaneous	498	900	850	$50 Decrease From 2021/2022 Budget	
Postage	132	225	375	Mailing May Be Required	
Office Supplies	228	475	450	$25 Decrease From 2021/2022 Budget	
Dues & Subscriptions	175	175	175	No Change From 2021/2022 Budget	
Trustee Fees	4,080	4,100	4,100	No Change From 2021/2022 Budget	
Continuing Disclosure Fee	350	350	350	No Change From 2021/2022 Budget	
Website Management	2,000	2,000	2,000	No Change From 2021/2022 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	67,598	$	75,915	$	77,002		
					
TOTAL EXPENDITURES	$	68,615	$	82,915	$	84,002		
					
REVENUES LESS EXPENDITURES	$	551,745	$	536,562	$	535,396		
					
Bond Payments	(530,270)	(524,213)	(524,213)	2023 P & I Payments Less Earned Interest	
					
BALANCE	$	21,475	$	12,349	$	11,183		
					
County Appraiser & Tax Collector Fee	(5,988)	(11,461)	(11,461)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(21,321)	(22,923)	(22,922)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	(5,834)	$	(22,035)	$	(23,200)		
					
Carryover From Prior Year	0	22,035	23,200	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	(5,834)	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND BUDGET
ISLANDS AT DORAL (NE) 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	
26	
25	
25	
Projected Interest For 2022/2023	

NAV Tax Collection	
530,270	
524,213	
524,213	
NAV Tax Collection	

Total Revenues	
$	530,296	
$	524,238	
$	524,238		

EXPENDITURES					

Principal Payments	
255,000	
265,000	
275,000	
Principal Payment Due In 2023	

Interest Payments	
154,193	
137,156	
122,526	
Interest Payments Due In 2023	

Additional Principal Payments	
110,000	
122,082	
126,712	
Additional Principal Payments	

Total Expenditures	
$	519,193	
$	524,238	
$	524,238		

Excess/ (Shortfall)	
$	11,103	
$	-	
$	-		

Series 2014 Refunding Bond Information

Original Par Amount =	$5,925,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	3.85%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	April 2014			
Maturity Date =

Par Amount As Of 1/1/2022 =	May 2029

$3,585,000			

Original Principal Amount Due In May 2029: $2,225,000 Current Principal Amount Due In May 2029: $1,475,000

Islands At Doral (NE) Community Development District Assessment Comparison

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

Administrative For Single Family Homes	

$	114.75	

$	107.64	

$	107.61	

$	107.59	

$	

107.55	
Maintenance For Single Family Homes	$	-	$	14.03	$	14.03	$	14.03	$	14.03	
Debt For Single Family Homes	$	1,635.38	$	1,587.68	$	1,587.68	$	1,587.68	$	1,587.68	
Total	$	1,750.13	$	1,709.35	$	1,709.32	$	1,709.30	$	1,709.26	

Administrative For Townhomes	
$	114.75	
$	107.64	
$	107.61	
$	107.59	
$	107.55	
Maintenance For Townhomes	$	-	$	14.03	$	14.03	$	14.03	$	14.03	
Debt For Townhomes	$	1,135.38	$	1,133.61	$	1,133.61	$	1,133.61	$	1,133.61	
Total	$	1,250.13	$	1,255.28	$	1,255.25	$	1,255.23	$	1,255.19	

Administrative For Condominiums	
$	114.75	
$	107.64	
$	107.61	
$	107.59	
$	107.55	
Maintenance For Condominiums	$	-	$	14.03	$	14.03	$	14.03	$	14.03	
Debt For Condominiums	$	947.88	$	906.57	$	906.57	$	906.57	$	906.57	
Total	$	1,062.63	$	1,028.24	$	1,028.21	$	1,028.19	$	1,028.15	

* Assessments Include the Following :	
4% Discount for Early Payments 1% County Tax Collector Fee
1% County Property Appraiser Fee
Community Information:		 Single Family Homes	66
Townhomes	125
Condominiums	340
Total Units	531
5/20/2022 1:40 PM	IV