R21-125 1
2 RESOLUTION R21-125
3
4 A RESOLUTION OF THE CITY OF BOYNTON BEACH,
5 FLORIDA RATIFYING THE 2021-2022 ANNUAL BUDGET
6 FOR THE QUANTUM PARK OVERLAY DEPENDENT
7 DISTRICT AND PROVIDING AN EFFECTIVE DATE.
8
9 WHEREAS, the Quantum Park Overlay Dependent District (QPODD) was created
10 by Ordinance of the City Commission pursuant to Chapter 163, Florida Statutes. The
11 QPODD has been designated a Florida Special District; and
12 WHEREAS,Florida Statutes 189.016 provides that the proposed budget of a dependent
13 special district, with the concurrence of the local governing authority, may be budgeted
14 separately; and
15 WHEREAS,a local governing authority may,in its discretion,review the budget or tax
16 levy of any special district located solely within its boundaries; and
17 WHEREAS, a final budget of the Quantum Park Overlay Dependent District has
18 been reviewed and considered by the City Commission for the ensuing year, with detailed
19 information.
20 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF
21 THE CITY OF BOYNTON BEACH,FLORIDA THAT:
22 Section 1. The foregoing "Whereas" clauses are hereby ratified and confirmed as
23 being true and correct and are hereby made a specific part of this Resolution upon adoption
24 hereof.
25 Section 2. The City Commission of the City of Boynton Beach, Florida hereby
26 ratifies the adoption of the Quantum Park Overlay Dependent District's 2021-2022 Annual
27 Budget.
S:\CA\RESO\Budget\2021-2022 Budget\Ratify QPODD Budget(2021-22)-Reso.Docx
1 Section 3. This Resolution shall become effective immediately upon passage.
2 PASSED AND ADOPTED this 21st day of September,2021.
3
4 CITY OF BOYNTON BEACH, FLORIDA
5 YES NO
6
7 Mayor—Steven B. Grant
8
9 Vice Mayor—Woodrow L. Hay ✓
10
11 Commissioner—Justin Katz ✓
12
13 Commissioner—Christina L.Romelus ✓
14
15 Commissioner—Ty Penserga
16
17 VOTE S=0
18 ATTEST:
19
20
21 C stal Gibson,MMC
22 Ci y Clerk
23
24
25 (Corporate Seal)
26
S:\CA\RESO\Budget\2021-2022 Budget\Ratify QPODD Budget(2021-22)-Reso.Docx
Quantum Park Overlay
Dependent District
Final Budget For
Fiscal Year 2021/2022
October 1, 2021- September 30, 2022
CONTENTS
I FINAL BUDGET
II DETAILED FINAL BUDGET
III ASSESSMENT COMPARISON
FINAL BUDGET
QUANTUM PARK OVERLAY DEPENDENT DISTRICT
FISCAL YEAR 2021/2022
OCTOBER 1,2021 -SEPTEMBER 30, 2022
FISCAL YEAR
2021/2022
REVENUES BUDGET
O&M ASSESSMENTS 52,718
PARK ASSESSMENTS 103,829
DEBT ASSESSMENTS(2008 LOAN) 0
DEBT ASSESSMENTS(2010 LOAN) 0
OTHER REVENUES 0
INTEREST INCOME 120
TOTAL REVENUES $ 156,667
EXPENDITURES
PARK RESERVES 97,599
ENGINEERING 0
MAINTENANCE MANAGEMENT 0
MAINTENANCE 0
MANAGEMENT 12,000
LEGAL 10,000
ASSESSMENT ROLL 7,500
AUDIT FEES 3,300
INSURANCE 13,600
LEGAL ADVERTISING 1,000
MISCELLANEOUS 300
POSTAGE 200
OFFICE SUPPLIES 100
DUES&SUBSCRIPTIONS 175
WEBSITE MANAGEMENT 1,500
TOTAL EXPENDITURES $ 147,274
REVENUES LESS EXPENDITURES $ 9,393
2008 LOAN PAYMENTS -
2010 LOAN PAYMENTS -
BALANCE $ 9,393
COUNTY APPRAISER&TAX COLLECTOR FEE (3,131)
DISCOUNTS FOR EARLY PAYMENTS (6,262)
EXCESS/(SHORTFALL) $
CARRYOVER FROM PRIOR YEAR 0
NET EXCESS/(SHORTFALL) $ -
ESTIMATED RESERVES AS OF 9/30/21 $470,000
FY 2021/2022 RESERVE ASSESSMENTS $97,599
ESTIMATED RESERVES AS OF 9/30/22 $567,599
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DETAILED FINAL BUDGET
QUANTUM PARK OVERLAY DEPENDENT DISTRICT
FISCAL YEAR 2021/2022
OCTOBER 1, 2021 -SEPTEMBER 30, 2022
FISCAL YEAR FISCAL YEAR FISCAL YEAR
2019/2020 2020/2021 2021/2022
REVENUES ACTUAL BUDGET BUDGET COMMENTS
0&M ASSESSMENTS 313,316 52,106 52,718 Expenditures Less Interest&Carryover/.94
PARK ASSESSMENTS 0 260,981 103,829 Park Reserves/.94
DEBT ASSESSMENTS(2008 LOAN) 0 0 0 Loan Payments/.94
DEBT ASSESSMENTS(2010 LOAN) 0 0 0 Loan Payments/.94
OTHER REVENUES 5,461 0 0
INTEREST INCOME 711 120 120 Projected At$10 Per Month
TOTAL REVENUES $ 319,488 $ 313,207 $ 156,667
EXPENDITURES
PARK RESERVES 0 245,322 97,599 Park Reserves
ENGINEERING 760 0 0 Line Item Eliminated
MAINTENANCE MANAGEMENT 43,250 0 0 Line Item Eliminated
MAINTENANCE 65,427 0 0 Line Item Eliminated
MANAGEMENT 30,528 12,000 12,000$1,000 Per Month
LEGAL 10,855 10,000 10,000 No Change From 2020/2021 Budget
ASSESSMENT ROLL 7,500 7,500 7,500 No Change From 2020/2021 Budget
AUDIT FEES 3,900 3,500 3,300 Accepted Amount For 2020/2021 Audit
INSURANCE 11,813 13,000 13,600 Insurance Estimate
LEGAL ADVERTISING 2,566 1,000 1,000 No Change From 2020/2021 Budget
MISCELLANEOUS 307 300 300 No Change From 2020/2021 Budget
POSTAGE 353 200 200 No Change From 2020/2021 Budget
OFFICE SUPPLIES 525 100 100 No Change From 2020/2021 Budget
DUES&SUBSCRIPTIONS 175 0 175 Annual Fee Due Department Of Economic Opportunity
WEBSITE MANAGEMENT 1,500 1,500 1,500 No Change From 2020/2021 Budget
TOTAL EXPENDITURES $ 179,459 $ 294,422 $ 147,274
REVENUES LESS EXPENDITURES $ 140,029 $ 18,785 $ 9,393
2008 LOAN PAYMENTS - - - 2008 Loan Paid Off In Full In September 2019
2010 LOAN PAYMENTS - - -,2010 Loan Paid Off In Full In September 2019
BALANCE $ 140,029 $ 18,785 $ 9,393
COUNTY APPRAISER&TAX COLLECTOR FEE (1,766) (6,262) (3,131)Two Percent Of Total Assessment Roll
DISCOUNTS FOR EARLY PAYMENTS (11,328) (12,523) (6,262)Four Percent Of Total Assessment Roll
EXCESS/(SHORTFALL) $ 126,935 $ 0 $ -
CARRYOVER FROM PRIOR YEAR 0 0 0 Carryover From Prior Year
NET EXCESS/(SHORTFALL) $ 126,935 $ 0 $ -
ESTIMATED RESERVES AS OF 9/30/21 $470,000
FY 2021/2022 RESERVE ASSESSMENTS $97,599
ESTIMATED RESERVES AS OF 9/30/22 $567,599
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Quantum Park Overlay Dependent District
Acreage Assessment Comparison
Fiscal Year Fiscal Year Fiscal Year Fiscal Year
2018/2019 2019/2020 2020/2021 2021/2022
Assessment Assessment Assessment Projected Assessment
Per Acre* Per Acre* Per Acre* Per Acre*
Administrative $ 1,224.18 $ 106.36 $ 155.61 $ 157.43
Park Reserves $ - $ 828.62 $ 779.37 $ 310.07
2008 Debt $ 304.53 $ - $ - $ -
2010 Debt $ 852.32 $ - $ - $ -
Total $ 2,381.03 $ 934.98 $ 934.98 $ 467.50
*Assessments Include the Following :
4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee
Community Information:
Assessable Acres 334.86
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