Los Cayos Community Development District

Final Budget For Fiscal Year 2024/2025
October 1, 2024 - September 30, 2025

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET

ASSESSMENT COMPARISON

FINAL BUDGET
LOS CAYOS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	
FISCAL YEAR 2024/2025
BUDGET	
O&M Assessments	98,297	
Debt Assessments	380,894	
Developer Contribution	0	
Developer Contribution - Import Fill Material	0	
Interest Income	375	
		
TOTAL REVENUES	$	479,566	
		
EXPENDITURES		
Administrative Expenditures		
Supervisor Fees	0	
Management	34,000	
Legal	11,500	
Assessment Roll	6,000	
Audit Fees	4,500	
Arbitrage Rebate Fee	650	
Insurance	6,250	
Legal Advertisements	3,000	
Miscellaneous	500	
Postage	200	
Office Supplies	500	
Dues & Subscriptions	175	
Website Management	2,500	
Trustee Fees	4,000	
Continuing Disclosure Fee	1,000	
Dissemination Services	2,500	
Total Administrative Expenditures	$	77,275	
		
Maintenance Expenditures		
Engineering/Inspections	3,000	
Miscellaneous Maintenance	1,000	
Environmental Inspections	10,000	
Stormwater Management	1,500	
Field Operations	0	
Import Fill Material	0	
Total Maintenance Expenditures	$	15,500	
		
TOTAL EXPENDITURES	$	92,775	
		
REVENUES LESS EXPENDITURES	$	386,791	
		
Bond Payments	(358,040)	
		
BALANCE	$	28,751	
		
County Appraiser & Tax Collector Fee	(9,584)	
Discounts For Early Payments	(19,167)	
		
EXCESS/ (SHORTFALL)	$	-	

I

DETAILED FINAL BUDGET
LOS CAYOS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	
FISCAL YEAR 2022/2023 ACTUAL	
FISCAL YEAR 2023/2024 BUDGET	
FISCAL YEAR 2024/2025 BUDGET	

COMMENTS	
O&M Assessments	0	0	98,297	Expenditures ($92,400) /.94	
Debt Assessments	0	0	380,894	Bond Payments/.94	
Developer Contribution	36,167	119,375	0		
Developer Contribution - Import Fill Material	4,785,292	2,300,000	0		
Interest Income	73	0	375		
					
TOTAL REVENUES	$	4,821,532	$	2,419,375	$	479,566		
					
EXPENDITURES					
Administrative Expenditures					
Supervisor Fees	0	0	0		
Management	9,750	39,000	34,000	$2,833.33 X 12 Months	
Legal	19,579	40,000	11,500		
Assessment Roll	0	0	6,000		
Audit Fees	0	4,000	4,500	Will Increase Due To Bond Issue	
Arbitrage Rebate Fee	0	0	650	Will Commence In Fiscal Year Following Issuing Of Bond	
Insurance	1,287	6,000	6,250	Insurance Estimate	
Legal Advertisements	3,023	20,000	3,000		
Miscellaneous	129	1,500	500		
Postage	233	200	200		
Office Supplies	326	2,000	500		
Dues & Subscriptions	100	175	175	Annual Fee Due Department Of Economic Opportunity	
Website Management	625	2,500	2,500	$208.33 X 12 Months	
Trustee Fees	0	0	4,000	Will Commence In Fiscal Year Following Issuing Of Bond	
Continuing Disclosure Fee	0	0	1,000	Will Commence In Fiscal Year Following Issuing Of Bond	
Dissemination Services	0	0	2,500	Required By Bond Underwriter	
Total Administrative Expenditures	$	-	$	115,375	$	77,275		
					
Maintenance Expenditures					
Engineering/Inspections	0	2,000	3,000	Engineers Report To Be Included In Bond Cost Of Issuance	
Miscellaneous Maintenance	0	2,000	1,000		
Environmental Inspections	0	0	10,000	Environmental Inspections	
Stormwater Management	0	0	1,500	Stormwater Management	
Field Operations	0	0	0		
Import Fill Material	1,778,386	2,300,000	0	Expenditure Was For 2022/2023 & 2023/2024	
Total Maintenance Expenditures	$	1,778,386	$	2,304,000	$	15,500		
					
TOTAL EXPENDITURES	$	1,778,386	$	2,419,375	$	92,775		
					
REVENUES LESS EXPENDITURES	$	3,043,146	$	-	$	386,791		
					
Bond Payments	0	0	(358,040)		
					
BALANCE	$	3,043,146	$	-	$	28,751		
					
County Appraiser & Tax Collector Fee	0	0	(9,584)		
Discounts For Early Payments	0	0	(19,167)		
					
EXCESS/ (SHORTFALL)	$	3,043,146	$	-	$	-		

II

DETAILED FINAL DEBT SERVICE FUND BUDGET LOS CAYOS COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2024/2025
OCTOBER 1, 2024 - SEPTEMBER 30, 2025

REVENUES	FISCAL YEAR 2022/2023 ACTUAL	FISCAL YEAR 2023/2024 BUDGET	FISCAL YEAR 2024/2025 BUDGET	

COMMENTS	

Interest Income	
0	
0	
100	
Projected Interest For 2024/2025	

NAV Tax Collection	
0	
0	
358,040	
Maximum Debt Service Collection	

Developer Contribution	
0	
0	
0		

Total Revenues	
$	-	
$	-	
$	358,140		

EXPENDITURES					

Principal Payments	
0	
0	
80,000	
Principal Payment Due In 2025	

Interest Payments	
0	
0	
277,140	
Interest Payment Due In 2025	

Bond Redemption	
0	
-	
1,000	
Estimated Excess Debt Collections	

Total Expenditures	
$	-	
$	-	
$	358,140		

Excess/ (Shortfall)	
$	-	
$	-	
$	-		

Notes
Capitalized Interest Set-Up Through June 2024
December 2024 Interest Payment ($139,900) To Be Developer Funded

Series 2024 Bond Information

Original Par Amount =	$5,275,000	Annual Principal Payments Due =	June 15th	
Interest Rate =	4.40% - 5.55%	Annual Interest Payments Due =	June 15th & December 15th	
Issue Date =	March 2024			
Maturity Date =	June 2054			

Par Amount As Of 4/1/24 =  $5,275,000

III

Los Cayos Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year
2022/2023	2023/2024	2024/2025
	Assessment*	 	Assessment*	   Projected Assessment*	
O & M Assessment For Townhomes	$	-	$	-	$	425.53

Debt Assessment For Townhomes

$	-		$	-	

$	1,649.00

Total For Townhomes

$	-	$	-	$

2,074.53

O&M Covenant = 400.00 400.00/.94 = 425.53
* Assessments Include the Following :
4% Discount for Early Payments 1% County Tax Collector Fee
1% County Property Appraiser Fee

Community Information:
Townhomes	231

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