Lake Frances Community Development District

Amended Final Budget For Fiscal Year 2021/2022
October 1, 2021 - September 30, 2022

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET

AMENDED FINAL BUDGET
LAKE FRANCES COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2021/2022 OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	FISCAL YEAR 2021/2022 BUDGET 10/1/21 - 9/30/22	AMENDED FINAL BUDGET
10/1/21 - 9/30/22	YEAR TO DATE ACTUAL
10/1/21 - 9/29/22	
Administrative Assessments	61,899	62,078	62,078	
Maintenance Assessments	16,457	16,457	16,457	
Debt Assessments	146,840	146,841	146,841	
Other Revenues	0	0	0	
Interest Income	540	24	23	
TOTAL REVENUES	$	225,736	$	225,400	$	225,399	
				
EXPENDITURES				
ADMINISTRATIVE EXPENDITURES				
Supervisor Fees	3,000	1,500	1,500	
Payroll Taxes (Employer)	230	115	115	
Management	32,520	32,520	32,520	
Legal	9,600	9,200	8,201	
Assessment Roll	6,000	6,000	6,000	
Audit Fees	3,100	3,100	3,100	
Insurance	6,400	5,706	5,706	
Legal Advertisements	750	750	538	
Miscellaneous	950	950	650	
Meeting Room Rental	950	420	420	
Postage	200	130	122	
Office Supplies	450	300	282	
Dues & Subscriptions	175	175	175	
Trustee Fee	4,000	4,000	4,000	
Continuing Disclosure Fee	350	350	350	
Website Mangement	2,000	2,000	2,000	
Administrative Contingency	1,200	600	0	
TOTAL ADMINISTRATIVE EXPENDITURES	$	71,875	$	67,816	$	65,679	
				
MAINTENANCE EXPENDITURES				
Aquatic Maintenance (Lake Tract)	3,600	2,340	2,145	
Lawn & Landscape Maintenance	6,600	7,200	7,200	
Engineering/Annual Report/Inspections	1,250	2,500	2,075	
Field Operation Management	1,620	1,620	1,620	
Maintenance Contingency	2,400	1,200	0	
TOTAL MAINTENANCE EXPENDITURES	$	15,470	$	14,860	$	13,040	
				
TOTAL EXPENDITURES	$	87,345	$	82,676	$	78,719	
				
REVENUES LESS EXPENDITURES	$	138,391	$	142,724	$	146,680	
				
Bond Payments	(138,030)	(139,773)	(139,773)	
				
BALANCE	$	361	$	2,951	$	6,907	
				
County Appraiser & Tax Collector Fee	(4,503)	(2,167)	(2,167)	
Discounts For Early Payments	(9,008)	(8,675)	(8,675)	
				
EXCESS/ (SHORTFALL)	$	(13,150)	$	(7,891)	$	(3,935)	
				
Carryover From Prior Year	13,150	13,150	0	
				
NET EXCESS/ (SHORTFALL)	$	-	$	5,259	$	(3,935)	

FUND BALANCE AS OF 9/30/21	
FY 2021/2022 ACTIVITY	
FUND BALANCE AS OF 9/30/22	

$203,567	
($7,891)	
$195,676	

Notes
Carryover From Prior Year Of $13,150 was used to reduce Fiscal Year 2021/2022 Assessments
$14,845 Of Fund Balance To Be Used To Reduce 2022/2023 Assessments.

AMENDED FINAL BUDGET
LAKE FRANCES COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND
FISCAL YEAR 2021/2022 OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	FISCAL YEAR 2021/2022 BUDGET
10/1/21 - 9/30/22	AMENDED FINAL BUDGET
10/1/21 - 9/30/22	YEAR TO DATE ACTUAL
10/1/21 - 9/29/22	
Interest Income	25	405	405	
NAV Tax Collection	138,030	139,773	139,773	
				
Total Revenues	$	138,055	$	140,178	$	140,178	
				
EXPENDITURES				
Principal Payments	79,000	79,000	79,000	
Interest Payments	58,445	59,630	59,630	
Bond Redemption	610	0	0	
				
Total Expenditures	$	138,055	$	138,630	$	138,630	
				
Excess/Shortfall	$	-	$	1,548	$	1,548	

FUND BALANCE AS OF 9/30/21	
FY 2021/2022 ACTIVITY	
FUND BALANCE AS OF 9/30/22	

$128,798	
$1,548	
$130,346	

Notes
Reserve Fund Balance = $71,530*. Revenue Fund Balance = $58,816* Interest Fund Balance Used To Make 11/1/2022 Interest Payment Of $28,630
* Approximate Amounts

Series 2018 Bond Refunding Information		
Original Par Amount =	$1,812,000	Annual Principal Payments Due:	
Interest Rate =	3.00% - 4.00%	May 1st	
Issue Date =	February 2018	Annual Interest Payments Due:	
Maturity Date =	May 2037	May 1st & November 1st	
Par Amount As Of 9/30/22=	$1,515,000