Century Gardens Community Development District

Amended Final Budget For Fiscal Year 2019/2020
October 1, 2019 - September 30, 2020

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 2019/2020 OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2019/2020 BUDGET
10/1/19 - 9/30/20	AMENDED FINAL BUDGET
10/1/19 - 9/30/20	YEAR TO DATE ACTUAL
10/1/19 - 9/29/20	
Administrative Assessments	81,831	83,255	83,255	
Maintenance Assessments	72,148	72,148	72,148	
Debt Assessments (Series 2007)	81,002	81,002	81,002	
Debt Assessments (Series 2014)	348,166	348,166	348,166	
Debt Assessments (Series 2019)	117,273	117,273	117,273	
Other Revenues	0	3,835	3,835	
Interest Income	180	230	227	
				
TOTAL REVENUES	$	700,600	$	705,909	$	705,906	
				
EXPENDITURES				
ADMINISTRATIVE EXPENDITURES				
Supervisor Fees	2,000	1,200	1,200	
Payroll Taxes	160	92	92	
Management	27,816	27,816	27,816	
Secretarial	4,200	4,200	4,200	
Legal	9,000	8,500	7,003	
Assessment Roll	6,000	6,000	6,000	
Audit Fees	3,250	3,200	3,200	
Insurance	6,000	5,251	5,251	
Legal Advertisements	600	600	360	
Miscellaneous	1,750	1,500	1,038	
Postage	350	80	72	
Office Supplies	800	275	251	
Dues & Subscriptions	175	175	175	
Trustee Fees	12,000	11,611	11,611	
Continuing Disclosure Fee	1,000	500	500	
Website Management	2,000	2,000	2,000	
TOTAL ADMINISTRATIVE EXPENDITURES	$	77,101	$	73,000	$	70,769	
				
MAINTENANCE EXPENDITURES				
Lawn/Landscape Maintenance	29,500	36,000	33,370	
Aquatic Lake Maintenance	4,200	4,754	4,754	
Preserve Area	1,000	500	0	
Irrigation Maintenance	2,500	900	606	
Miscellaneous Maintenance	3,000	3,700	3,279	
Electricity	3,300	2,615	2,615	
Engineering/Inspections	1,500	1,102	1,102	
Field Operations Management	1,500	1,500	1,500	
Palm Treatment - Maint./Replacement	3,500	1,200	850	
Improvements - Landscape/Forestry	5,765	10,500	9,554	
Improvements - Reserve Contingency	5,000	1,000	0	
Improvements - Reserve Contingency (Townhomes)	7,055	1,000	0	
TOTAL MAINTENANCE EXPENDITURES	$	67,820	$	64,771	$	57,630	
				
TOTAL EXPENDITURES	$	144,921	$	137,771	$	128,399	
				
REVENUES LESS EXPENDITURES	$	555,679	$	568,138	$	577,507	
				
Bond Payments (Series 2007)	(76,385)	(77,149)	(77,149)	
Bond Payments (Series 2014)	(327,276)	(332,299)	(332,299)	
Bond Payments (Series 2019)	(111,350)	(111,652)	(111,652)	
				
BALANCE	$	40,668	$	47,038	$	56,407	
				
County Appraiser & Tax Collector Fee	(13,556)	(6,757)	(6,757)	
Discounts For Early Payments	(27,112)	(25,711)	(25,711)	
				
Excess/ (Shortfall)	$	-	$	14,570	$	23,939	
				
Carryover From Prior Year		0	0	
				
Net Excess/ (Shortfall)	$	-	$	14,570	$	23,939	

FUND BALANCE AS OF 9/30/19	
FY 2019/2020 ACTIVITY	
FUND BALANCE AS OF 9/30/20	

$80,981	
$14,570	
$95,551	

Notes
Lennar Capital Funds Balance Of $30,000 As Of 9/30/20 Is Not Included In Fund Balance.

10/5/2020 8:20 AM	I

DEBT SERVICE FUND (SERIES 2007) FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2019/2020 BUDGET
10/1/19 - 9/30/20	AMENDED FINAL BUDGET
10/1/19 - 9/30/20	YEAR TO DATE ACTUAL
10/1/19 - 9/29/20	
Interest Income	100	671	667	
NAV Tax Collection	76,385	77,149	77,149	
Total Revenues	$	76,485	$	77,820	$	77,816	
				
EXPENDITURES				
Principal Payments	30,000	30,000	30,000	
Interest Payments	43,430	44,188	44,188	
Bond Redemption	3,055	0	0	
Total Expenditures	$	76,485	$	74,188	$	74,188	
				
Excess/ (Shortfall)	$	-	$	3,632	$	3,628	

FUND BALANCE AS OF 9/30/19	
FY 2019/2020 ACTIVITY	
FUND BALANCE AS OF 9/30/20	

$71,953	
$3,632	
$75,585	

Notes
Reserve Fund Balance = $38,306*. Revenue Fund Balance = $37,279*.
Revenue Fund Balance To Be Used To Make 11/1/2020 Interest Payment Of $21,366.
* 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 9/30/20 =	May 2037
$845,000	May 1st & November 1st	

DEBT SERVICE FUND (SERIES 2004-SERIES 2014) FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2019/2020 BUDGET 10/1/19 - 9/30/20	AMENDED FINAL BUDGET
10/1/19 - 9/30/20	YEAR  TO DATE ACTUAL
10/1/19 - 9/29/20	
Interest Income	100	4,298	4,294	
NAV Tax Collection	327,276	332,299	332,299	
Total Revenues	$	327,376	$	336,597	$	336,593	
				
EXPENDITURES				
Principal Payments	160,000	160,000	160,000	
Interest Payments	96,730	98,515	98,515	
Extraordinary Principal Payments	55,000	55,000	55,000	
Bond Redemption	15,646	0	0	
				
Total Expenditures	$	327,376	$	313,515	$	313,515	
				
Excess/Shortfall	$	-	$	23,082	$	23,078	

FUND BALANCE AS OF 9/30/19	
FY 2019/2020 ACTIVITY	
FUND BALANCE AS OF 9/30/20	

$302,056	
$23,082	
$325,138	

Notes
Reserve Fund Balance = $140,896*. Revenue Fund Balance = $184,242*.
Revenue Fund Balance To Be Used To Make 11/1/2020 Interest Payment Of $46,070 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 9/30/20 =	May 2034

$2,710,000	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 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2019/2020 BUDGET
10/1/19 - 9/30/20	AMENDED FINAL BUDGET
10/1/19 - 9/30/20	YEAR TO DATE ACTUAL
10/1/19 - 9/29/20	
Interest Income	0	910	909	
NAV Tax Collection	111,350	111,652	111,652	
Total Revenues	$	111,350	$	112,562	$	112,561	
				
EXPENDITURES				
Principal Payments	29,000	0	0	
Interest Payments	81,976	81,976	81,976	
Bond Redemption	374	0	0	
				
Total Expenditures	$	111,350	$	81,976	$	81,976	
				
Excess/Shortfall	$	-	$	30,586	$	30,585	

FUND BALANCE AS OF 9/30/19	
FY 2019/2020 ACTIVITY	
FUND BALANCE AS OF 9/30/20	

$69,663	
$30,586	
$100,249	

Notes
Reserve Fund Balance = $27,838*. Revenue Fund Balance = $72,412*.
Revenue Fund Balance To Be Used To Make 11/1/2020 Principal Payment Of $29,000 And Interest Payment Of $40,988.
* Approximate Amounts

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 9/30/20 =	November 2049

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

 	Series 2019 Bond Information