Sebastian River Improvement District

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

CONTENTS

I	FINAL BUDGET

FINAL BUDGET
SEBASTIAN RIVER IMPROVEMENT 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	
NAV ASSESSMENTS	234,260	308,436	308,436	10,046 Acres @ $30.70	
R-O-W USE FEES	15,015	14,765	16,765		
PERMIT FEES	1,741	5,000	5,000		
OTHER REVENUES	79,031	0	0		
INTEREST INCOME	1,029	960	960	Interest Projected At $80 Per Month	
TOTAL REVENUES	$	331,076	$	329,161	$	331,161		
					
EXPENDITURES					
LEGAL	9,691	20,000	20,000	No Change From 2021/2022 Budget	
LEGAL - SPECIAL COUNSEL	525,742	0	0	Fiscal Year 2020/2021 Expenditure	
LEGAL - OTHER	113,829	0	0	Fiscal Year 2020/2021 Expenditure	
DISTRICT ADMINISTRATIVE	27,000	27,000	30,000	$2,500 Per Month	
OPERATIONS MANAGER	21,000	21,000	21,000	No Change From 2021/2022 Budget	
OPERATIONS MANAGER - PAYROLL TAXES	1,607	1,607	1,607	Operations Manager *7.65%	
ENGINEERING /GENERAL	29,029	45,000	45,000	No Change From 2021/2022 Budget	
ENGINEERING /PERMIT	0	5,000	5,000	No Change From 2021/2022 Budget	
ENGINEERING /OTHER	49,010	45,000	42,900	FY 2021/2022 Expenditure Through March 2022 Was $13,770	
ACCOUNTING / AUDIT	5,000	5,100	5,200	Accepted Amount For 2021/2022 Audit	
INSURANCE	6,353	9,600	20,000	Insurance Estimate - Anticipated Increase Due To Litigation	
WEBSITE MANAGEMENT	2,000	2,000	2,000	No Change From 2021/2022 Budget	
DUES & SUBSCRIPTIONS	925	925	925	
$175 For Dept Of Economic Opportunity - $750 For FL Assoc Special Districts	
LEGAL ADVERISEMENTS	968	1,150	1,150	No Change From 2021/2022 Budget	
MISCELLANEOUS	4,126	3,000	4,100	Includes Travel, Postage & Office Supplies	
WATER QUALITY ANALYTICAL SERVICE	1,008	1,000	1,000	Quarterly Service	
MAINTENANCE CONTRACT (ROW)	39,733	113,273	110,273	$3,000 Decrease From 2021/2022 Budget	
MISCELLANEOUS MAINTENANCE	37	10,000	2,500	$7,500 Decrease From 2021/2022 Budget	
TOTAL EXPENDITURES	$	837,058	$	310,655	$	312,655		
					
REVENUES LESS EXPENDITURES	$	(505,982)	$	18,506	$	18,506		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(1,712)	(6,169)	(6,169)	Two Percent Of Total Assessment Roll	
DISCOUNTS FOR EARLY PAYMENTS	(7,172)	(12,337)	(12,337)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	(514,866)	$	-	$	-		
					
PREVIOUS YEAR CARRYOVER	-	-	-	Comes from Current Fund Balance	
					
NET EXCESS/ (SHORTFALL)	$	(514,866)	$	-	$	-		

Notes
Assessable Acres = 10,046

FY 2020 Assessment per Acre = $18.50
FY 2020 Budgeted Carryover Funding Assessment per Acre = $3.66

FY 2021 Assessment per Acre = $22.50
FY 2021 Budgeted Carryover Funding Assessment per Acre = $4.21

FY 2022 Assessment per Acre = $30.70
FY 2022 Budgeted Carryover Funding Assessment per Acre = $0.00

FY 2023 Assessment per Acre = $30.70
FY 2023 Budgeted Carryover Funding Assessment per Acre = $0.00

FUND BALANCE AS OF 9/30/20	$  257,145.00	
FY 2020/2021 BUDGET ACTIVITY	$ (514,866.00)	
FUND BALANCE AS OF 9/30/21	$ (257,721.00)	

FUND BALANCE AS OF 9/30/21	$ (257,721.00)	
PROJECTED FY 2021/2022 BUDGET ACTIVITY	$  577,087.00	
PROJECTED FUND BALANCE AS OF 9/30/22	$  319,366.00	

I