Title: HC Amended Final Budget 2022-2023.xlsx
Author: JWalker

Hillcrest
Community Development District

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

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET

AMENDED FINAL BUDGET
HILLCREST COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2022/2023 OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES

FISCAL YEAR 2022/2023 BUDGET 10/1/22 - 9/30/23

AMENDED FINAL BUDGET
10/1/22 - 9/30/23

YEAR TO DATE ACTUAL
10/1/22 - 9/29/23

O & M Assessments | 134,086 | 135,052 | 135,052
Debt Assessments | 662,543 | 662,546 | 662,546
Other Revenues | 0 | 0 | 0
Interest Income | 120 | 6,531 | 6,431
Total Revenues | $	796,749 | $	804,129 | $	804,029
EXPENDITURES | | |
Supervisor Fees | 0 | 0 | 0
Engineering/Inspections | 3,000 | 1,000 | 0
Management | 36,636 | 36,636 | 36,636
Legal | 17,000 | 7,000 | 2,411
Assessment Roll | 5,000 | 5,000 | 5,000
Audit Fees | 3,800 | 3,800 | 3,800
Arbitrage Rebate Fee | 650 | 650 | 650
Insurance | 6,700 | 6,718 | 6,718
Legal Advertisements | 1,500 | 1,100 | 634
Miscellaneous | 1,000 | 500 | 109
Postage | 300 | 150 | 138
Office Supplies | 600 | 275 | 241
Dues & Subscriptions | 175 | 175 | 175
Trustee Fees | 3,800 | 3,709 | 3,709
Continuing Disclosure Fee | 1,000 | 500 | 500
Stormwater System Maintenance | 16,000 | 16,000 | 0
Miscellaneous Lake Maintenance | 13,000 | 0 | 0
Perimeter Wall | 8,000 | 3,000 | 0
Stormwater 20-Year Analysis Report | 3,000 | 3,000 | 0
Maintenance Contingency | 5,000 | 2,500 | 0
TOTAL EXPENDITURES | $	126,161 | $	91,713 | $	60,721
Excess/ (Shortfall) | $	670,588 | $	712,416 | $	743,308
Bond Payments | (622,790) | (635,444) | (635,444)
Balance | $	47,798 | $	76,972 | $	107,864
County Appraiser & Tax Collector Fee | (15,933) | (2,133) | (2,133)
Discounts For Early Payments | (31,865) | (30,454) | (30,454)
Net Excess/ (Shortfall) | $	- | $	44,385 | $	75,277

Note: Funds To Be Added To Stormwater Report Reserve In October 2023.

FUND BALANCE AS OF 9/30/22
FY 2022/2023 FUND BALANCE ACTIVITY
FUND BALANCE AS OF 9/30/23

$58,937
$44,385
$103,322

I

AMENDED FINAL BUDGET
HILLCREST COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND
FISCAL YEAR 2022/2023 OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES

FISCAL YEAR 2022/2023 BUDGET 10/1/22 - 9/30/23

AMENDED FINAL BUDGET
10/1/22 - 9/30/23

YEAR TO DATE ACTUAL
10/1/22 - 9/29/23

Interest Income | 25 | 21,512 | 21,412
NAV Assessment Collection | 622,790 | 635,444 | 635,444
Total Revenues | $	622,815 | $	656,956 | $	656,856
EXPENDITURES | | |
Principal Payments | 195,000 | 190,000 | 190,000
Interest Payments | 425,844 | 429,288 | 429,288
Bond Redemption | 1,971 | 0 | 0
Total Expenditures | $	622,815 | $	619,288 | $	619,288
Excess/ (Shortfall) | $	- | $	37,668 | $	37,568

FUND BALANCE AS OF 9/30/22
FY 2022/2023 ACTIVITY
FUND BALANCE AS OF 9/30/23

$777,000
$37,668
$814,668

Notes
Reserve Fund Balance = $322,675*. Revenue Fund Balance = $491,993*
Revenue Fund Balance To Be Used To Make 11/1/2023 Principal & Interest Payment Of $407,922 - Principal Payment Of $195,000 & Interest Payment Of $212,922.
* Approximate Amounts

Series 2018 Bond Information

Original Par Amount = | $9,805,000 | Annual Principal Payments Due:
Interest Rate = | 3.625% - 5.0% | November 1st
Issue Date = | January 2018 | Annual Interest Payments Due:

Maturity Date =

Par Amount As Of 9/30/23 =

November 2048

$9,090,000

May 1st & November 1st

10/9/2023 1:14 PM	^II