Century Gardens Village Community Development District

Amended Final Budget For Fiscal Year 2018/2019
October 1, 2018 - September 30, 2019

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 2018/2019 OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	FISCAL YEAR 2018/2019 BUDGET
10/1/18 - 9/30/19	AMENDED FINAL BUDGET
10/1/18 - 9/30/19	YEAR TO DATE ACTUAL
10/1/18 - 8/31/19	
Administrative Assessments	73,559	74,465	74,465	
Maintenance Assessments	50,664	50,664	50,664	
Debt Assessments	235,482	235,482	235,482	
Other Revenue	0	3,073	3,073	
Interest Income	300	260	246	
TOTAL REVENUES	$	360,005	$	363,944	$	363,930	
				
EXPENDITURES				
Administrative Expenditures				
Supervisor Fees	3,000	1,000	1,000	
Payroll Taxes - Employer	230	76	76	
Management	31,140	31,140	28,545	
Legal	8,500	8,500	7,289	
Assessment Roll	7,500	7,500	0	
Audit Fees	3,300	3,200	3,200	
Insurance	6,250	5,000	5,000	
Legal Advertisements	1,000	1,000	412	
Miscellaneous	1,800	1,800	1,330	
Postage	500	125	116	
Office Supplies	450	400	353	
Dues & Subscriptions	175	175	175	
Trustee Fee	3,500	3,500	3,500	
Continuing Disclosure Fee	600	600	0	
Website Management	1,500	1,500	1,375	
TOTAL ADMINISTRATIVE EXPENDITURES	$	69,445	$	65,516	$	52,371	
				
Maintenance Expenditures				
Engineering/Inspections	1,500	1,500	0	
Street/Road Maintenance	17,200	12,000	10,605	
Field Operations Management	1,800	1,800	1,650	
Street/Roadway Restoration Project	17,500	500	0	
Capital Improvements	3,625	500	0	
Maintenance Contingency*	6,000	6,500	6,221	
TOTAL MAINTENANCE EXPENDITURES	$	47,625	$	22,800	$	18,476	
				
TOTAL EXPENDITURES	$	117,070	$	88,316	$	70,847	
				
REVENUES LESS EXPENDITURES	$	242,935	$	275,628	$	293,083	
				
Bond Payments	(221,353)	(224,862)	(224,862)	
				
BALANCE	$	21,582	$	50,766	$	68,221	
				
County Appraiser & Tax Collector Fee	(7,194)	(3,475)	(3,475)	
Discounts For Early Payments	(14,388)	(12,794)	(12,794)	
				
EXCESS/ (SHORTFALL)	$	-	$	34,497	$	51,952	
				
Carryover From Prior Year		0	0	
				
NET EXCESS/ (SHORTFALL)	$	-	$	34,497	$	51,952	

* - Contingency includes Tree Trimming and Sidewalk Repairs.

FUND BALANCE AS OF 9/30/18	
FY 2018/2019 ACTIVITY	
FUND BALANCE AS OF 9/30/19	

$104,227	
$34,497	
$138,724	

9/24/2019 10:31 AM	I

AMENDED FINAL BUDGET
CENTURY GARDENS VILLAGE COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND
FISCAL YEAR 2018/2019 OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	FISCAL YEAR 2018/2019 BUDGET
10/1/18 - 9/30/19	AMENDED FINAL BUDGET
10/1/18 - 9/30/19	YEAR  TO DATE ACTUAL
10/1/18 - 8/31/19	
Interest Income	200	4,800	4,763	
NAV Tax Collection	221,353	224,862	224,862	
Total Revenues	$	221,553	$	229,662	$	229,625	
				
EXPENDITURES				
Principal Payments	85,000	85,000	85,000	
Interest Payments	136,553	138,720	138,720	
				
Total Expenditures	$	221,553	$	223,720	$	223,720	
				
Excess/ (Shortfall)	$	-	$	5,942	$	5,905	

FUND BALANCE AS OF 9/30/18	
FY 2018/2019 ACTIVITY	
FUND BALANCE AS OF 9/30/19	

$210,581	
$5,942	
$216,523	

Notes
Reserve Fund Balance = $114,376*. Revenue Fund Balance = $99,965*. Redemption Fund Balance = $2,182*.
Revenue Fund Balance To Be Used To Make 11/1/2019 Interest Payment Of $67,193.
* 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 8/31/19 =	$2,635,000		

9/24/2019 10:31 AM	II