Century Gardens 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 (SERIES 2007) III	AMENDED FINAL DEBT SERVICE FUND BUDGET (SERIES 2014)

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

REVENUES	FISCAL YEAR	AMENDED	YEAR	
	2017/2018	FINAL	TO DATE	
	BUDGET	BUDGET	ACTUAL	
	10/1/17 - 9/30/18	10/1/17 - 9/30/18	10/1/17 - 9/29/18	
Administrative Assessments	56,786	57,812	57,812	
Maintenance Assessments	75,793	75,604	75,604	
Debt Assessments (Series 2007)	81,002	81,002	81,002	
Debt Assessments (Series 2014)	343,527	347,111	347,111	
Other Revenues	0	0	0	
Interest Income	60	310	302	
				
TOTAL REVENUES	$	557,168	$	561,839	$	561,831	
				
EXPENDITURES				
ADMINISTRATIVE EXPENDITURES				
Management	26,304	26,304	26,304	
Secretarial	4,200	4,200	4,200	
Legal	9,000	11,750	10,593	
Assessment Roll	6,000	6,000	6,000	
Audit Fees	3,000	3,000	3,000	
Insurance	5,610	5,610	5,610	
Legal Advertisements	550	550	243	
Miscellaneous	1,000	2,200	2,041	
Postage	350	225	217	
Office Supplies	800	775	733	
Dues & Subscriptions	175	175	175	
Trustee Fees	7,300	7,209	7,209	
Continuing Disclosure Fee	500	500	500	
Wesite Management	1,500	1,500	1,500	
TOTAL ADMINISTRATIVE EXPENDITURES	$	66,289	$	69,998	$	68,325	
				
MAINTENANCE EXPENDITURES				
Lawn/Landscape Maintenance	25,000	29,500	26,710	
Aquatic Lake Maintenance	3,275	4,200	4,200	
Preserve Area	1,970	250	0	
Irrigation Maintenance	5,000	1,000	854	
Miscellaneous Maintenance	3,000	4,300	4,204	
Electricity	3,300	2,950	2,640	
Engineering/Inspections	2,000	1,054	1,054	
Palm Treatment - Maint./Replacement	10,000	1,200	1,080	
Improvements - Landscape/Forestry	12,700	29,750	29,578	
Improvements - Entry Features/Reserve Contingency	5,000	250	0	
TOTAL MAINTENANCE EXPENDITURES	$	71,245	$	74,454	$	70,320	
				
TOTAL EXPENDITURES	$	137,534	$	144,452	$	138,645	
				
REVENUES LESS EXPENDITURES	$	419,634	$	417,387	$	423,186	
				
Bond Payments (Series 2007)	(76,385)	(77,129)	(77,129)	
Bond Payments (Series 2014)	(322,915)	(331,346)	(331,346)	
				
BALANCE	$	20,334	$	8,912	$	14,711	
				
County Appraiser & Tax Collector Fee	(11,061)	(5,409)	(5,409)	
Discounts For Early Payments	(22,123)	(20,303)	(20,303)	
				
Excess/ (Shortfall)	$	(12,850)	$	(16,800)	$	(11,001)	
				
Carryover From Prior Year	12,850	12,850	0	
				
Net Excess/ (Shortfall)	$	-	$	(3,950)	$	(11,001)	

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

 	
$93,822	
($16,800)	
$77,022	

Notes
Carryover From Prior Year Of $12,850 was used to reduce Fiscal Year 2017/2018 Assessments.
$16,846 Of Fund Balance To Be Used To Reduce 2018/2019 Assessments.

10/1/2018  2:34 PM	I

AMENDED FINAL BUDGET
CENTURY GARDENS COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND (SERIES 2007)
FISCAL YEAR 2017/2018 OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	FISCAL YEAR	AMENDED	YEAR	
	2017/2018	FINAL	TO DATE	
	BUDGET	BUDGET	ACTUAL	
	10/1/17 - 9/30/18	10/1/17 - 9/30/18	10/1/17 - 9/29/18	
Interest Income	75	910	899	
NAV Tax Collection	76,385	77,129	77,129	
Total Revenues	$	76,460	$	78,039	$	78,028	
				
EXPENDITURES				
Principal Payments	30,000	30,000	30,000	
Interest Payments	46,460	47,218	47,218	
				
Total Expenditures	$	76,460	$	77,218	$	77,218	
				
Excess/ (Shortfall)	$	-	$	821	$	810	

FUND BALANCE AS OF 9/30/17	

FY 2017/2018 ACTIVITY	

FUND BALANCE AS OF 9/30/18	

 	

$67,888	

$821	

$68,709	

Notes
Reserve Fund Balance = $38,306*. Revenue Fund Balance = $30,182*.
Revenue Fund Balance To Be Used To Make 11/1/2018 Interest Payment Of $22,851.
* Approximate Amounts

Series 2007 Bond Information
Original Par Amount =	$1,145,000	Annual Principal Payments Due:	
Interest Rate =	5.05%	May 1st	
Issue Date =	March 2007	Annual Interest Payments Due:	
Maturity Date =

Par Amount As Of 9/30/18 =	May 2037

$905,000	May 1st & November 1st	

10/1/2018  2:34 PM	II

AMENDED FINAL BUDGET
CENTURY GARDENS COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND (SERIES 2004-SERIES 2014)
FISCAL YEAR 2017/2018 OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	FISCAL YEAR	AMENDED	YEAR	
	2017/2018	FINAL	TO DATE	
	BUDGET	BUDGET	ACTUAL	
	10/1/17 - 9/30/18	10/1/17 - 9/30/18	10/1/17 - 9/29/18	
Interest Income	50	600	592	
NAV Tax Collection	321,215	331,346	331,346	
Total Revenues	$	321,265	$	331,946	$	331,938	
				
EXPENDITURES				
Principal Payments	155,000	155,000	155,000	
Interest Payments	111,265	112,965	112,965	
Extraordinary Principal Payments	55,000	55,000	55,000	
				
Total Expenditures	$	321,265	$	322,965	$	322,965	
				
Excess/Shortfall	$	-	$	8,981	$	8,973	

FUND BALANCE AS OF 9/30/17	

FY 2017/2018 ACTIVITY	

FUND BALANCE AS OF 9/30/18	

 	

$279,557	

$8,981	

$288,538	

Notes
Reserve Fund Balance = $136,912*. Revenue Fund Balance = $151,281*.
Revenue Fund Balance To Be Used To Make 11/1/2018 Interest Payment Of $53,380 and Extraordinary Principal Payment Of $55,000.
* Approximate Amounts

 	Series 2014 Refunding Bond Information 

Original Par Amount =	$3,905,000	Annual Principal Payments Due:	
Interest Rate =	3.4% - 8.4%	May 1st	
Issue Date =	June 2014	Annual Interest Payments Due:	
Maturity Date =	May 2034	May 1st & November 1st	
Par Amount As Of 9/30/18 =	$3,140,000

Note: Extraordinary Principal Payments Being Made To Eliminate Final Four Years Of Principal Payments.

10/1/2018  2:34 PM	III