Century Parc Community Development District

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

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
CENTURY PARC COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2020/2021 BUDGET	
Administrative Assessments	75,127	
Maintenance Assessments	59,538	
Debt Assessments	353,187	
Other Revenues	0	
Interest Income	420	
		
TOTAL REVENUES	$	488,272	
		
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	32,172	
Secretarial	4,200	
Legal	7,000	
Assessment Roll	6,000	
Audit Fees	3,500	
Insurance	6,100	
Legal Advertisements	575	
Miscellaneous	750	
Postage	325	
Office Supplies	675	
Dues & Subscriptions	175	
Trustee Fees	3,400	
Continuing Disclosure Fee	350	
Website Management	2,000	
TOTAL ADMINISTRATIVE EXPENDITURES	$	74,782	
		
TOTAL EXPENDITURES	$	130,742	
		
REVENUES LESS EXPENDITURES	$	357,530	
		
Bond Payments	(331,996)	
		
BALANCE	$	25,534	
		
County Appraiser & Tax Collector Fee	(9,761)	
Discounts For Early Payments	(19,523)	
		
Excess/ (Shortfall)	$	(3,750)	
		
Carryover From Prior Year	3,750	
		
Net Excess/ (Shortfall)	$	-	

7/26/2020 3:41 PM	I

DETAILED FINAL BUDGET
CENTURY PARC COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2018/2019 ACTUAL	
FISCAL YEAR 2019/2020 BUDGET	
FISCAL YEAR 2020/2021 BUDGET	

COMMENTS	
Administrative Assessments	77,955	78,378	75,127	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	59,538	59,538	59,538	Expenditures/.94	
Debt Assessments	351,472	349,996	353,187	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	831	420	420	Interest Estimated At $35 Per Month	
					
TOTAL REVENUES	$	489,796	$	488,332	$	488,272		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
Maintenance/Contingency - Drainage	4,400	19,250	19,250	No Change From 2019/2020 Budget	
Maintenance/Contingency - Roads	0	34,710	34,710	2031 Road Project - Fourth Year	
Engineering/Inspections	1,050	2,000	2,000	No Change From 2019/2020 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	5,450	$	55,960	$	55,960		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	2,600	7,000	7,000	Supervisor Fees	
Payroll Taxes (Employer)	199	560	560	Projected At 8% Of Supervisor Fees	
Management	30,876	31,452	32,172	CPI Adjustment	
Secretarial	4,200	4,200	4,200	No Change From 2019/2020 Budget	
Legal	5,563	7,000	7,000	No Change From 2019/2020 Budget	
Assessment Roll	6,000	6,000	6,000	As Per Contract	
Audit Fees	3,900	4,000	3,500	Accepted Amount For 2019/2020 Audit	
Insurance	5,000	6,300	6,100	Insurance Estimate	
Legal Advertisements	353	575	575	No Change From 2019/2020 Budget	
Miscellaneous	577	750	750	No Change From 2019/2020 Budget	
Postage	95	350	325	$25 Decrease From 2019/2020 Budget	
Office Supplies	312	700	675	$25 Decrease From 2019/2020 Budget	
Dues & Subscriptions	175	175	175	No Change From 2019/2020 Budget	
Trustee Fees	3,400	3,400	3,400	No Change From 2019/2020 Budget	
Continuing Disclosure Fee	350	350	350	No Change From 2019/2020 Budget	
Website Management	1,500	2,000	2,000	No Change From 2019/2020 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	65,100	$	74,812	$	74,782		
					
TOTAL EXPENDITURES	$	70,550	$	130,772	$	130,742		
					
REVENUES LESS EXPENDITURES	$	419,246	$	357,560	$	357,530		
					
Bond Payments	(335,295)	(328,996)	(331,996)	2021 P & I Payments Less Earned Interest	
					
BALANCE	$	83,951	$	28,564	$	25,534		
					
County Appraiser & Tax Collector Fee	(4,708)	(9,763)	(9,761)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(17,755)	(19,526)	(19,523)	Four Percent Of Total Assessment Roll	
					
Excess/ (Shortfall)	$	61,488	$	(725)	$	(3,750)		
					
Carryover From Prior Year	0	725	3,750	Carryover From Prior Year	
					
Net Excess/ (Shortfall)	$	61,488	$	-	$	-		

7/26/2020 3:41 PM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET
CENTURY PARC COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	

FISCAL YEAR

2018/2019

ACTUAL	

FISCAL YEAR

2019/2020

BUDGET	

FISCAL YEAR

2020/2021

BUDGET	

COMMENTS	

Interest Income	
8,407	
100	
100	
Projected Interest For 2020/2021	

NAV Tax Collection	
335,295	
328,996	
331,996	
2021 P & I Payments Less Earned Interest	

Total Revenues	
$	343,702	
$	329,096	
$	332,096		

EXPENDITURES					

Principal Payments	
190,000	
200,000	
210,000	
Principal Payment Due In 2021	

Interest Payments	
138,284	
129,096	
122,096	
Interest Payments Due In 2021	

Total Expenditures	
$	328,284	
$	329,096	
$	332,096		

Excess/ (Shortfall)	
$	15,418	
$	-	
$	-		

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 1/1/2020 =	November 2031

$3,035,000			

7/26/2020 3:41 PM		
III		

Century Parc Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2017/2018	2018/2019	2019/2020	2020/2021	
Assessment*	Assessment*	Assessment*	Projected Assessment*	

Administrative	$	99.91	$	100.67	$	102.46	$	98.21	
Maintenance	$	77.83	$	77.83	$	77.83	$	77.83	
Debt	$	462.26	$	461.25	$	459.32	$	463.50	
Total For 691 Units	$	640.00	$	639.75	$	639.61	$	639.54	

Administrative	
$	99.91	
$	100.67	
$	102.46	
$	98.21	
Maintenance	$	77.83	$	77.83	$	77.83	$	77.83	
Debt	$	462.26	$	461.25	$	459.32	$	463.50	
Total For 74 Townhomes	$	640.00	$	639.75	$	639.61	$	639.54	

* 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		

7/26/2020 3:41 PM	IV