Century Gardens Community Development District

Amended Final Budget For Fiscal Year 2020/2021
October 1, 2020 - September 30, 2021

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 2020/2021 OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2020/2021 BUDGET
10/1/20 - 9/30/21	AMENDED FINAL BUDGET
10/1/20 - 9/30/21	YEAR TO DATE ACTUAL
10/1/20 - 9/29/21	
Administrative Assessments	82,497	83,215	83,215	
Maintenance Assessments	71,340	71,344	71,344	
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	0	0	
Interest Income	240	225	219	
				
TOTAL REVENUES	$	700,518	$	701,225	$	701,219	
				
EXPENDITURES				
ADMINISTRATIVE EXPENDITURES				
Supervisor Fees	2,000	1,400	1,400	
Payroll Taxes	160	107	107	
Management	28,452	28,452	28,452	
Secretarial	4,200	4,200	4,200	
Legal	9,000	8,500	7,284	
Assessment Roll	6,000	6,000	6,000	
Audit Fees	3,300	3,700	3,700	
Insurance	6,000	5,836	5,836	
Legal Advertisements	600	850	710	
Miscellaneous	1,750	1,250	783	
Postage	350	150	137	
Office Supplies	800	225	181	
Dues & Subscriptions	175	175	175	
Trustee Fees	12,000	11,610	11,610	
Continuing Disclosure Fee	1,000	500	500	
Website Management	2,000	2,000	2,000	
TOTAL ADMINISTRATIVE EXPENDITURES	$	77,787	$	74,955	$	73,075	
				
MAINTENANCE EXPENDITURES				
Lawn/Landscape Maintenance	29,500	32,500	30,474	
Aquatic Lake Maintenance	4,200	8,000	7,570	
Preserve Area	1,000	500	0	
Irrigation Maintenance	2,500	4,500	3,788	
Miscellaneous Maintenance	3,000	3,000	2,359	
Electricity	3,300	1,628	1,628	
Engineering/Inspections	1,500	1,830	1,830	
Field Operations Management	1,500	1,500	1,500	
Palm Treatment - Maint./Replacement	3,500	1,000	400	
Improvements - Landscape/Forestry	5,115	11,000	10,287	
Improvements - Reserve Contingency	5,000	500	0	
Improvements - Reserve Contingency (Townhomes)	6,945	500	0	
TOTAL MAINTENANCE EXPENDITURES	$	67,060	$	66,458	$	59,836	
				
TOTAL EXPENDITURES	$	144,847	$	141,413	$	132,911	
				
REVENUES LESS EXPENDITURES	$	555,671	$	559,812	$	568,308	
				
Bond Payments (Series 2007)	(76,385)	(77,192)	(77,192)	
Bond Payments (Series 2014)	(327,276)	(332,028)	(332,028)	
Bond Payments (Series 2019)	(111,350)	(111,677)	(111,677)	
				
BALANCE	$	40,660	$	38,915	$	47,411	
				
County Appraiser & Tax Collector Fee	(13,553)	(6,750)	(6,750)	
Discounts For Early Payments	(27,107)	(25,993)	(25,993)	
				
Excess/ (Shortfall)	$	-	$	6,172	$	14,668	
				
Carryover From Prior Year		0	0	
				
Net Excess/ (Shortfall)	$	-	$	6,172	$	14,668	

FUND BALANCE AS OF 9/30/20	
FY 2020/2021 ACTIVITY	
FUND BALANCE AS OF 9/30/21	

$134,437	
$6,172	
$140,609	

10/1/2021 2:19 PM	I

AMENDED FINAL BUDGET
CENTURY GARDENS COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND (SERIES 2007)
FISCAL YEAR 2020/2021 OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2020/2021 BUDGET
10/1/20 - 9/30/21	AMENDED FINAL BUDGET
10/1/20 - 9/30/21	YEAR TO DATE ACTUAL
10/1/20 - 9/29/21	
Interest Income	100	9	8	
NAV Tax Collection	76,385	77,192	77,192	
Total Revenues	$	76,485	$	77,201	$	77,200	
				
EXPENDITURES				
Principal Payments	30,000	30,000	30,000	
Interest Payments	41,915	42,673	42,673	
Bond Redemption	4,570	0	0	
Total Expenditures	$	76,485	$	72,673	$	72,673	
				
Excess/ (Shortfall)	$	-	$	4,528	$	4,527	

FUND BALANCE AS OF 9/30/20	
FY 2020/2021 ACTIVITY	
FUND BALANCE AS OF 9/30/21	

$75,585	
$4,528	
$80,113	

Notes
Reserve Fund Balance = $38,306*. Revenue Fund Balance = $41,807*.
Revenue Fund Balance To Be Used To Make 11/1/2021 Interest Payment Of $20,579.
* 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 9/30/21 =	May 2037
$815,000	May 1st & November 1st	

10/1/2021 2:19 PM	II

AMENDED FINAL BUDGET
CENTURY GARDENS COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND (SERIES 2004-SERIES 2014)
FISCAL YEAR 2020/2021 OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2020/2021 BUDGET 10/1/20 - 9/30/21	AMENDED FINAL BUDGET
10/1/20 - 9/30/21	YEAR TO DATE ACTUAL
10/1/20 - 9/29/21	
Interest Income	100	18	17	
NAV Tax Collection	327,276	332,028	332,028	
Total Revenues	$	327,376	$	332,046	$	332,045	
				
EXPENDITURES				
Principal Payments	170,000	170,000	170,000	
Interest Payments	89,250	91,205	91,205	
Extraordinary Principal Payments	55,000	55,000	55,000	
Bond Redemption	13,126	0	0	
				
Total Expenditures	$	327,376	$	316,205	$	316,205	
				
Excess/Shortfall	$	-	$	15,841	$	15,840	

FUND BALANCE AS OF 9/30/20	
FY 2020/2021 ACTIVITY	
FUND BALANCE AS OF 9/30/21	

$325,138	
$15,841	
$340,979	

Notes
Reserve Fund Balance = $140,896*. Revenue Fund Balance = $200,076*.
Revenue Fund Balance To Be Used To Make 11/1/2021 Interest Payment Of $42,245 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 9/30/21 =	May 2034

$2,485,000	May 1st & November 1st	

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

10/1/2021 2:19 PM	III

AMENDED FINAL BUDGET
CENTURY GARDENS COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND (SERIES 2019)
FISCAL YEAR 2020/2021 OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2020/2021 BUDGET
10/1/20 - 9/30/21	AMENDED FINAL BUDGET
10/1/20 - 9/30/21	YEAR TO DATE ACTUAL
10/1/20 - 9/29/21	
Interest Income	50	5	4	
NAV Tax Collection	111,350	111,677	111,677	
Total Revenues	$	111,400	$	111,682	$	111,681	
				
EXPENDITURES				
Principal Payments	30,000	29,000	29,000	
Interest Payments	80,932	81,454	81,454	
Bond Redemption	468	0	0	
				
Total Expenditures	$	111,400	$	110,454	$	110,454	
				
Excess/Shortfall	$	-	$	1,228	$	1,227	

FUND BALANCE AS OF 9/30/20	
FY 2020/2021 ACTIVITY	
FUND BALANCE AS OF 9/30/21	

$100,249	
$1,228	
$101,477	

Notes
Reserve Fund Balance = $27,837*. Revenue Fund Balance = $73,640*.
Revenue Fund Balance To Be Used To Make 11/1/2021 Principal Payment Of $30,000 And Interest Payment Of $40,466.
* 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 9/30/21 =	November 2049

$1,704,000	May 1st & November 1st	

10/1/2021 2:19 PM	IV