Century Gardens 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 (SERIES 2007) III	AMENDED FINAL DEBT SERVICE FUND BUDGET (SERIES 2014)
IV	AMENDED FINAL DEBT SERVICE FUND BUDGET (SERIES 2019)

AMENDED FINAL BUDGET
CENTURY GARDENS 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 - 9/29/19	
Administrative Assessments	55,138	56,212	56,212	
Maintenance Assessments	77,388	77,389	77,389	
Debt Assessments (Series 2007)	81,002	81,002	81,002	
Debt Assessments (Series 2014)	348,166	348,167	348,167	
Capital Improvement Revenue	0	60,000	60,000	
Other Revenues	0	20,355	20,355	
Interest Income	120	375	375	
				
TOTAL REVENUES	$	561,814	$	643,500	$	643,500	
				
EXPENDITURES				
ADMINISTRATIVE EXPENDITURES				
Supervisor Fees	0	1,200	1,200	
Payroll Taxes	0	92	92	
Management	27,300	27,300	27,300	
Secretarial	4,200	4,200	4,200	
Legal	9,000	11,000	9,720	
Legal - Extraordinary	0	20,000	20,000	
Assessment Roll	6,000	6,000	6,000	
Audit Fees	3,000	3,000	3,000	
Insurance	6,171	5,000	5,000	
Legal Advertisements	600	2,750	2,413	
Miscellaneous	1,500	1,600	1,484	
Postage	350	375	364	
Office Supplies	800	975	919	
Dues & Subscriptions	175	175	175	
Trustee Fees	7,700	7,579	7,579	
Continuing Disclosure Fee	500	500	500	
Website Management	1,500	1,500	1,500	
TOTAL ADMINISTRATIVE EXPENDITURES	$	68,796	$	93,246	$	91,446	
				
MAINTENANCE EXPENDITURES				
Lawn/Landscape Maintenance	25,000	33,500	28,945	
Aquatic Lake Maintenance	3,275	4,100	3,850	
Preserve Area	1,970	250	0	
Irrigation Maintenance	5,000	1,750	1,234	
Miscellaneous Maintenance	3,000	7,500	6,663	
Electricity	3,300	3,400	3,389	
Engineering/Inspections	2,000	1,600	1,600	
Field Operations Management	1,500	1,500	1,500	
Palm Treatment - Maint./Replacement	10,000	1,500	1,170	
Improvements - Landscape/Forestry	12,700	36,000	33,634	
Improvements - Entry Features/Reserve Contingency	5,000	500	0	
TOTAL MAINTENANCE EXPENDITURES	$	72,745	$	91,600	$	81,985	
				
TOTAL EXPENDITURES	$	141,541	$	184,846	$	173,431	
				
REVENUES LESS EXPENDITURES	$	420,273	$	458,654	$	470,069	
				
Bond Payments (Series 2007)	(76,385)	(77,147)	(77,147)	
Bond Payments (Series 2014)	(327,276)	(332,274)	(332,274)	
				
BALANCE	$	16,612	$	49,233	$	60,648	
				
County Appraiser & Tax Collector Fee	(11,152)	(5,419)	(5,419)	
Discounts For Early Payments	(22,306)	(20,433)	(20,433)	
				
Excess/ (Shortfall)	$	(16,846)	$	23,381	$	34,796	
				
Carryover From Prior Year	16,846	0	0	
				
Net Excess/ (Shortfall)	$	-	$	23,381	$	34,796	

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

$80,218	
$23,381	
$103,599	

Notes
Carryover From Prior Year Of $16,846 was used to reduce Fiscal Year 2018/2019 Assessments.

9/26/2019 11:49 AM	I

DEBT SERVICE FUND (SERIES 2007) 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 - 9/29/19	
Interest Income	100	1,595	1,585	
NAV Tax Collection	76,385	77,147	77,147	
Total Revenues	$	76,485	$	78,742	$	78,732	
				
EXPENDITURES				
Principal Payments	30,000	30,000	30,000	
Interest Payments	44,945	45,703	45,703	
Bond Redemption	1,540	0	0	
Total Expenditures	$	76,485	$	75,703	$	75,703	
				
Excess/ (Shortfall)	$	-	$	3,039	$	3,029	

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

$68,803	
$3,039	
$71,842	

Notes
Reserve Fund Balance = $38,306*. Revenue Fund Balance = $33,536*.
Revenue Fund Balance To Be Used To Make 11/1/2018 Interest Payment Of $22,094.
* 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 9/30/19 =	May 2037
$875,000	May 1st & November 1st	

DEBT SERVICE FUND (SERIES 2004-SERIES 2014) 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 - 9/29/19	
Interest Income	100	1,805	1,796	
NAV Tax Collection	327,276	332,274	332,274	
Total Revenues	$	327,376	$	334,079	$	334,070	
				
EXPENDITURES				
Principal Payments	160,000	160,000	160,000	
Interest Payments	105,910	105,825	105,825	
Extraordinary Principal Payments	55,000	55,000	55,000	
Bond Redemption	6,466	0	0	
				
Total Expenditures	$	327,376	$	320,825	$	320,825	
				
Excess/Shortfall	$	-	$	13,254	$	13,245	

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

$288,624	
$13,254	
$301,878	

Notes
Reserve Fund Balance = $137,532*. Revenue Fund Balance = $164,346*.
Revenue Fund Balance To Be Used To Make 11/1/2019 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 =

Par Amount As Of 9/30/19 =	May 2034

$2,925,000	May 1st & November 1st	

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

DEBT SERVICE FUND (SERIES 2019) 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 - 9/29/19	
Interest Income	0	340	338	
Bond Proceeds	0	93,187	93,187	
NAV Tax Collection	0	0	0	
Total Revenues	$	-	$	93,527	$	93,525	
				
EXPENDITURES				
Principal Payments	0	0	0	
Interest Payments	0	23,910	23,910	
Bond Redemption	0	0	0	
				
Total Expenditures	$	-	$	23,910	$	23,910	
				
Excess/Shortfall	$	-	$	69,617	$	69,615	

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

$0	
$69,617	
$69,617	

Notes
Reserve Fund Balance = $27,838*. Interest Fund Balance = $41,779*.
Interest Fund Balance To Be Used To Make 11/1/2019 Interest Payment Of $40,988
* Approximate Amounts

 	Series 2019 Bond Information	
Original Par Amount =	$1,733,000	Annual Principal Payments Due:	
Interest Rate =	3.6% - 5.0%	November 1st	
Issue Date =	January 2019	Annual Interest Payments Due:	
Maturity Date =

Par Amount As Of 9/30/19 =	November 2049

$1,733,000	May 1st & November 1st