Century Parc Community Development District

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

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
CENTURY PARC COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	
FISCAL YEAR 2018/2019 BUDGET	
Administrative Assessments	77,011	
Maintenance Assessments	59,538	
Debt Assessments	351,472	
Other Revenues	0	
Interest Income	360	
		
TOTAL REVENUES	$	488,381	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
Maintenance/Contingency - Drainage	19,250	
Maintenance/Contingency - Roads	34,710	
Engineering/Inspections	2,000	
TOTAL MAINTENANCE EXPENDITURES	$	55,960	
		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	7,000	
Payroll Taxes (Employer)	560	
Management	30,876	
Secretarial	4,200	
Legal	7,000	
Assessment Roll	6,000	
Audit Fees	3,900	
Insurance	6,356	
Legal Advertisements	600	
Miscellaneous	750	
Postage	375	
Office Supplies	700	
Dues & Subscriptions	175	
Trustee Fees	3,400	
Continuing Disclosure Fee	350	
Website Management	1,500	
TOTAL ADMINISTRATIVE EXPENDITURES	$	73,742	
		
TOTAL EXPENDITURES	$	129,702	
		
REVENUES LESS EXPENDITURES	$	358,679	
		
Bond Payments	(330,384)	
		
BALANCE	$	28,295	
		
County Appraiser & Tax Collector Fee	(9,765)	
Discounts For Early Payments	(19,530)	
		
Excess/ (Shortfall)	$	(1,000)	
		
Carryover From Prior Year	1,000	
		
Net Excess/ (Shortfall)	$	-	

5/28/2018 11:18 AM	I

DETAILED FINAL BUDGET
CENTURY PARC COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	
FISCAL YEAR 2016/2017 ACTUAL	
FISCAL YEAR 2017/2018 BUDGET	
FISCAL YEAR 2018/2019 BUDGET	

COMMENTS	
Administrative Assessments	77,202	76,426	77,011	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	59,538	59,538	59,538	Expenditures/.94	
Debt Assessments	352,337	352,244	351,472	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	621	360	360	Interest Estimated At $30 Per Month	
					
TOTAL REVENUES	$	489,698	$	488,568	$	488,381		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
Maintenance/Contingency - Drainage	5,350	19,250	19,250	Third Year Of Four Year Project	
Maintenance/Contingency - Roads	0	34,710	34,710	2031 Road Project - Second Year	
Engineering/Inspections	2,050	2,000	2,000	No Change From 2017/2018 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	7,400	$	55,960	$	55,960		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	5,600	7,000	7,000	Supervisor Fees	
Payroll Taxes (Employer)	428	560	560	Projected At 8% Of Supervisor Fees	
Management	29,640	30,252	30,876	CPI Adjustment	
Secretarial	4,200	4,200	4,200	No Change From 2017/2018 Budget	
Legal	5,986	7,000	7,000	No Change From 2017/2018 Budget	
Assessment Roll	6,000	6,000	6,000	As Per Contract	
Audit Fees	3,700	3,800	3,900	$100 Increase From 2017/2018 Budget	
Insurance	5,778	6,356	6,356	Insurance Company Estimate	
Legal Advertisements	270	600	600	No Change From 2017/2018 Budget	
Miscellaneous	615	750	750	No Change From 2017/2018 Budget	
Postage	170	400	375	$25 Decrease From 2017/2018 Budget	
Office Supplies	552	700	700	No Change From 2017/2018 Budget	
Dues & Subscriptions	175	175	175	No Change From 2017/2018 Budget	
Trustee Fees	3,091	3,400	3,400	Trustee (US Bank) Increasing Fees In 2018/2019	
Continuing Disclosure Fee	350	500	350	$150 Decrease From 2017/2018 Budget	
Website Management	1,500	1,500	1,500	No Change From 2017/2018 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	68,055	$	73,193	$	73,742		
					
TOTAL EXPENDITURES	$	75,455	$	129,153	$	129,702		
					
REVENUES LESS EXPENDITURES	$	414,243	$	359,415	$	358,679		
					
Bond Payments	334,197	(331,109)	(330,384)	2019 P & I Payments Less Earned Interest	
					
BALANCE	$	748,440	$	28,306	$	28,295		
					
County Appraiser & Tax Collector Fee	(4,712)	(9,769)	(9,765)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(17,824)	(19,537)	(19,530)	Four Percent Of Total Assessment Roll	
					
Excess/ (Shortfall)	$	725,904	$	(1,000)	$	(1,000)		
					
Carryover From Prior Year	0	1,000	1,000	Carryover From Prior Year	
					
Net Excess/ (Shortfall)	$	725,904	$	-	$	-		

5/28/2018 11:18 AM	II

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

REVENUES	

FISCAL YEAR

2016/2017

ACTUAL	

FISCAL YEAR

2017/2018

BUDGET	

FISCAL YEAR

2018/2019

BUDGET	

COMMENTS	

Interest Income	
1,214	
25	
50	
Projected Interest For 2018/2019	

NAV Tax Collection	
334,197	
331,109	
330,384	
2019 P & I Payments Less Earned Interest	

Total Revenues	
$	335,411	
$	331,134	
$	330,434		

EXPENDITURES					

Principal Payments	
180,000	
190,000	
195,000	
Principal Payment Due In 2019	

Interest Payments	
148,471	
141,134	
135,434	
Interest Payments Due In 2019	

Total Expenditures	
$	328,471	
$	331,134	
$	330,434		

Excess/ (Shortfall)	
$	6,940	
$	-	
$	-		

Series 2012 Refunding Bonds Information

Original Par Amount =	$4,305,000	Annual Principal Payments Due =	November 1st	
Interest Rate =	1.5% - 4.25%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	April 2012			
Maturity Date =

Par Amount As Of 1/1/2018 =	November 2031

$3,420,000			

5/28/2018 11:18 AM	III

Century Parc Community Development District Assessment Comparison

	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
	2015/2016	2016/2017	2017/2018	2018/2019	
	Assessment*	Assessment*	Assessment*	Projected Assessment*	

Administrative	
$	80.78	
$	100.11	
$	99.91	
$	100.67	
Maintenance	$	84.84	$	77.83	$	77.83	$	77.83	
Debt	$	461.69	$	462.39	$	462.26	$	461.25	
Total For 691 Units	$	627.31	$	640.33	$	640.00	$	639.75	

Administrative	
$	80.78	
$	100.11	
$	99.91	
$	100.67	
Maintenance	$	84.84	$	77.83	$	77.83	$	77.83	
Security	$	-	$	-	$	-	$	-	
Debt	$	461.69	$	462.39	$	462.26	$	461.25	
Total For 74 Townhomes	$	627.31	$	640.33	$	640.00	$	639.75	

* Assessments Include the Following :	 4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee

Community Information:		 Condominiums	691
Townhomes	74
Total Units	765

Townhomes Information		 Total Units	74
Prepayments	3
Billed For Debt	71

5/28/2018 11:18 AM	IV