Banyan Cay 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 IV	ASSESSMENT COMPARISON

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

REVENUES	
FISCAL YEAR 2021/2022
BUDGET	
O&M Assessments	91,026	
Developer Contribution	0	
Debt Assessments	425,532	
Interest Income	60	
		
TOTAL REVENUES	$	516,618	
		
EXPENDITURES		
Supervisor Fees	0	
Engineering/Inspections	8,000	
Management	24,000	
Legal	24,000	
Assessment Roll	5,000	
Audit Fees	3,300	
Arbitrage Rebate Fee	650	
Insurance	6,064	
Legal Advertisements	1,500	
Miscellaneous	2,000	
Postage	400	
Office Supplies	800	
Dues & Subscriptions	175	
Trustee Fees	4,150	
Continuing Disclosure Fee	1,000	
Website Management	2,000	
Reserve	2,586	
TOTAL EXPENDITURES	$	85,625	
		
REVENUES LESS EXPENDITURES	$	430,993	
		
Bond Payments	(400,000)	
		
BALANCE	$	30,993	
		
County Appraiser & Tax Collector Fee	(10,331)	
Discounts For Early Payments	(20,662)	
		
EXCESS/ (SHORTFALL)	$	-	

DETAILED FINAL BUDGET
BANYAN CAY 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	0	0	91,026	Expenditures Less Interest /.94	
Developer Contribution	62,378	85,625	0	Developer Contribution	
Debt Assessments	0	0	425,532	Bond Payments/.94	
Interest Income	5	0	60	Projected At $5.00 Per Month	
					
TOTAL REVENUES	$	62,383	$	85,625	$	516,618		
					
EXPENDITURES					
Supervisor Fees	0	0	0		
Engineering/Inspections	2,712	8,000	8,000	No Change From 2020/2021 Budget	
Management	24,000	24,000	24,000	No Change From 2020/2021 Budget	
Legal	17,297	20,000	24,000	FY 20/21 Expenditures Through Feb 2021 Were $37,934	
Assessment Roll	0	5,000	5,000	As Per Contract	
Audit Fees	3,200	3,500	3,300	Accepted Amount For 2020/2021 Audit	
Arbitrage Rebate Fee	0	650	650	No Change From 2020/2021 Budget	
Insurance	5,251	6,000	6,064	Insurance Estimate	
Legal Advertisements	683	7,500	1,500	$6,000 Decrease From 2020/2021 Budget	
Miscellaneous	19	2,000	2,000	No Change From 2020/2021 Budget	
Postage	32	500	400	$100 Decrease From 2020/2021 Budget	
Office Supplies	117	1,300	800	$500 Decrease From 2020/2021 Budget	
Dues & Subscriptions	175	175	175	No Change From 2020/2021 Budget	
Trustee Fees	0	4,000	4,150	$150 Increase From 2020/2021 Budget	
Continuing Disclosure Fee	1,000	1,000	1,000	No Change From 2020/2021 Budget	
Website Management	2,000	2,000	2,000	No Change From 2020/2021 Budget	
Reserve	0	0	2,586	Reserve	
TOTAL EXPENDITURES	$	56,486	$	85,625	$	85,625		
					
REVENUES LESS EXPENDITURES	$	5,897	$	-	$	430,993		
					
Bond Payments	0	0	(400,000)	2022 P & I Payments Less Earned Interest	
					
BALANCE	$	5,897	$	-	$	30,993		
					
County Appraiser & Tax Collector Fee	0	0	(10,331)		
Discounts For Early Payments	0	0	(20,662)		
					
EXCESS/ (SHORTFALL)	$	5,897	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND BUDGET
BANYAN CAY 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	
0	
0	
25	
Projected Interest For 2021/2022	

NAV Tax Collection	
0	
0	
400,000	
Maximum Debt Service Collection	

Total Revenues	
$	-	
$	-	
$	400,025		

EXPENDITURES					

Principal Payments	
0	
0	
130,000	
Principal Payment Due In 2022	

Interest Payments	
0	
0	
269,113	
Interest Payments Due In 2022	

Bond Redemption	
0	
0	
912	
Estimated Excess Debt Collections	

Total Expenditures	
$	-	
$	-	
$	400,025		

Excess/ (Shortfall)	
$	-	
$	-	
$	-		

Series 2020 Bond Information

Original Par Amount =	$6,895,000	Annual Principal Payments Due =	November 1st	
Interest Rate =	2.75% - 4.00%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	December 2020			
Maturity Date =

Par Amount As Of 1/1/21 =	November 2051

$6,560,000			

Banyan Cay Community Development District Assessment Comparison

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

O & M For Estate Homes	$	-	$

-	$	-	$

370.03

Debt For Estate Homes

$	1,789.00

$	-	$	- 

$	1,789.13

Total For Estate Homes	$

1,789.00	$

-	$	-	$

2,159.16

O & M For Hotel Room/Units	$	-	$

-	$	-	$

370.03

Debt For Hotel Room/Units

$	1,789.00

$	-	$	- 

$	1,789.13

Total For Estate Homes	$

1,789.00	$

-	$	-	$

2,159.16

O & M For Resort Villas	$	-	$

-	$	-	$

370.03

Debt For Resort Villas

$	1,431.00

$	-	$	- 

$	1,431.30

Total For Resort Villas	$

1,431.00	$

-	$	-	$

1,801.33

O & M For Clubhouse Component	$	-	$

-	$	-	$

8,140.66

Debt For Clubhouse Component	$	32,639.00	$	-	$	-	$	32,639.00	
Total For Clubhouse Component	$	32,639.00	$	-	$	-	$	40,779.66	

* Assessments Include the Following :		
4% Discount for Early Payments 1% County Tax Collector Fee
1% County Property Appraiser Fee		
Community Information - Phase One:		
Estate Homes	52	
Hotel Units/Room	150	
Resort Villas	22	
Clubhouse Component	22	
Total Units	246	
Clubhouse Component Is 18,243 Square Feet		

6/13/2021 9:53 AM	IV