Century Gardens Village Community Development District

Amended Final Budget For Fiscal Year 2017/2018
October 1, 2017 - September 30, 2018

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET

AMENDED FINAL BUDGET
CENTURY GARDENS VILLAGE COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2017/2018 OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	FISCAL YEAR 2017/2018 BUDGET
10/1/17 - 9/30/18	AMENDED FINAL BUDGET
10/1/17 - 9/30/18	YEAR TO DATE ACTUAL
10/1/17 - 9/29/18	
Administrative Assessments	48,472	49,404	49,404	
Maintenance Assessments	14,809	14,809	14,809	
O & M Assessments - Loan	54,468	57,392	57,392	
Debt Assessments	240,200	240,200	240,200	
Other Revenue	0	0	0	
Interest Income	300	275	275	
TOTAL REVENUES	$	358,249	$	362,080	$	362,080	
				
EXPENDITURES				
Administrative Expenditures				
Supervisor Fees	3,000	1,300	1,300	
Payroll Taxes - Employer	230	99	99	
Management	30,504	30,504	30,504	
Legal	8,500	9,775	9,775	
Assessment Roll	7,500	7,500	7,500	
Audit Fees	3,200	3,200	3,200	
Insurance	6,005	5,750	5,750	
Legal Advertisements	1,100	750	364	
Miscellaneous	1,600	1,500	1,136	
Postage	500	100	94	
Office Supplies	450	450	433	
Dues & Subscriptions	175	175	175	
Trustee Fee	3,500	3,500	3,500	
Continuing Disclosure Fee	1,500	1,500	1,500	
Website Management	1,500	1,500	1,500	
2013 Improvement Loan - Principal & Interest	51,200	51,200	51,200	
TOTAL ADMINISTRATIVE EXPENDITURES	$	120,464	$	118,803	$	118,030	
				
Maintenance Expenditures				
Engineering/Inspections	1,200	850	850	
Street/Road Maintenance	7,800	19,000	18,816	
Field Operations Management	1,320	1,320	1,320	
Maintenance Contingency	3,600	13,000	12,226	
TOTAL MAINTENANCE EXPENDITURES	$	13,920	$	34,170	$	33,212	
				
TOTAL EXPENDITURES	$	134,384	$	152,973	$	151,242	
				
REVENUES LESS EXPENDITURES	$	223,865	$	209,107	$	210,838	
				
Bond Payments	(225,788)	(229,571)	(229,571)	
				
BALANCE	$	(1,923)	$	(20,464)	$	(18,733)	
				
County Appraiser & Tax Collector Fee	(7,159)	(3,491)	(3,491)	
Discounts For Early Payments	(14,318)	(12,542)	(12,542)	
				
EXCESS/ (SHORTFALL)	$	(23,400)	$	(36,497)	$	(34,766)	
				
Carryover From Prior Year	23,400	23,400	0	
				
NET EXCESS/ (SHORTFALL)	$	-	$	(59,897)	$	(34,766)	

FUND BALANCE AS OF 9/30/17	
FY 2017/2018 ACTIVITY	
FUND BALANCE AS OF 9/30/18	

$140,210	
($36,497)	
$103,713	

Notes
Carryover From Prior Year Of $23,400 was used to reduce Fiscal Year 2017/2018 Assessments.
$0.00 Of Fund Balance To Be Used To Reduce 2018/2019 Assessments.

11/16/2018 2:57 PM	I

AMENDED FINAL BUDGET
CENTURY GARDENS VILLAGE COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND
FISCAL YEAR 2017/2018 OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	FISCAL YEAR 2017/2018 BUDGET
10/1/17 - 9/30/18	AMENDED FINAL BUDGET
10/1/17 - 9/30/18	YEAR TO DATE ACTUAL
10/1/17 - 9/29/18	
Interest Income	100	3,067	3,067	
NAV Tax Collection	225,788	229,571	229,571	
Total Revenues	$	225,888	$	232,638	$	232,638	
				
EXPENDITURES				
Principal Payments	85,000	85,000	85,000	
Interest Payments	140,888	143,055	143,055	
				
Total Expenditures	$	225,888	$	228,055	$	228,055	
				
Excess/ (Shortfall)	$	-	$	4,583	$	4,583	

FUND BALANCE AS OF 9/30/17	
FY 2017/2018 ACTIVITY	
FUND BALANCE AS OF 9/30/18	

$205,998	
$4,583	
$210,581	

Notes
Reserve Fund Balance = $114,230*. Revenue Fund Balance = $94,228*.
Revenue Fund Balance To Be Used To Make 11/1/2018 Interest Payment Of $69,360.
* Approximate Amounts

Series 2007 Bond Information		
Original Par Amount =	$3,440,000	Annual Principal Payments Due:	
Interest Rate =	5.10%	May 1st	
Issue Date =	March 2007	Annual Interest Payments Due:	
Maturity Date =	May 2037	May 1st & November 1st	
Par Amount As Of 9/30/18 =	$2,720,000		

11/16/2018 2:57 PM	II