Century Parc Community Development District

Proposed Budget For Fiscal Year 2021/2022
October 1, 2021 - September 30, 2022

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

PROPOSED BUDGET
CENTURY PARC COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2021/2022 BUDGET	
Administrative Assessments	78,073	
Maintenance Assessments	59,538	
Debt Assessments	350,210	
Other Revenues	0	
Interest Income	420	
		
TOTAL REVENUES	$	488,241	
		
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	32,616	
Secretarial	4,200	
Legal	7,000	
Assessment Roll	6,000	
Audit Fees	3,600	
Insurance	6,100	
Legal Advertisements	575	
Miscellaneous	750	
Postage	300	
Office Supplies	650	
Dues & Subscriptions	175	
Trustee Fees	3,400	
Continuing Disclosure Fee	350	
Website Management	2,000	
TOTAL ADMINISTRATIVE EXPENDITURES	$	75,276	
		
TOTAL EXPENDITURES	$	131,236	
		
REVENUES LESS EXPENDITURES	$	357,005	
		
Bond Payments	(329,197)	
		
BALANCE	$	27,808	
		
County Appraiser & Tax Collector Fee	(9,761)	
Discounts For Early Payments	(19,522)	
		
Excess/ (Shortfall)	$	(1,475)	
		
Carryover From Prior Year	1,475	
		
Net Excess/ (Shortfall)	$	-	

3/29/2021 3:27 PM	I

DETAILED PROPOSED BUDGET
CENTURY PARC COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2019/2020 ACTUAL	
FISCAL YEAR 2020/2021 BUDGET	
FISCAL YEAR 2021/2022 BUDGET	

COMMENTS	
Administrative Assessments	79,367	75,127	78,073	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	59,538	59,538	59,538	Expenditures/.94	
Debt Assessments	349,996	353,187	350,210	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	528	420	420	Interest Estimated At $35 Per Month	
					
TOTAL REVENUES	$	489,429	$	488,272	$	488,241		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
Maintenance/Contingency - Drainage	6,100	19,250	19,250	No Change From 2020/2021 Budget	
Maintenance/Contingency - Roads	0	34,710	34,710	2031 Road Project - Fifth Year	
Engineering/Inspections	975	2,000	2,000	No Change From 2020/2021 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	7,075	$	55,960	$	55,960		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	3,600	7,000	7,000	Supervisor Fees	
Payroll Taxes (Employer)	275	560	560	Projected At 8% Of Supervisor Fees	
Management	31,452	32,172	32,616	CPI Adjustment	
Secretarial	4,200	4,200	4,200	No Change From 2020/2021 Budget	
Legal	6,435	7,000	7,000	No Change From 2020/2021 Budget	
Assessment Roll	6,000	6,000	6,000	As Per Contract	
Audit Fees	3,400	3,500	3,600	Accepted Amount For 2020/2021 Audit	
Insurance	5,251	6,100	6,100	Insurance Estimate	
Legal Advertisements	769	575	575	No Change From 2020/2021 Budget	
Miscellaneous	454	750	750	No Change From 2020/2021 Budget	
Postage	211	325	300	$25 Decrease From 2020/2021 Budget	
Office Supplies	247	675	650	$25 Decrease From 2020/2021 Budget	
Dues & Subscriptions	175	175	175	No Change From 2020/2021 Budget	
Trustee Fees	3,400	3,400	3,400	No Change From 2020/2021 Budget	
Continuing Disclosure Fee	350	350	350	No Change From 2020/2021 Budget	
Website Management	2,000	2,000	2,000	No Change From 2020/2021 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	68,219	$	74,782	$	75,276		
					
TOTAL EXPENDITURES	$	75,294	$	130,742	$	131,236		
					
REVENUES LESS EXPENDITURES	$	414,135	$	357,530	$	357,005		
					
Bond Payments	(333,953)	(331,996)	(329,197)	2022 P & I Payments Less Earned Interest	
					
BALANCE	$	80,182	$	25,534	$	27,808		
					
County Appraiser & Tax Collector Fee	(4,709)	(9,761)	(9,761)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(17,653)	(19,523)	(19,522)	Four Percent Of Total Assessment Roll	
					
Excess/ (Shortfall)	$	57,820	$	(3,750)	$	(1,475)		
					
Carryover From Prior Year	0	3,750	1,475	Carryover From Prior Year	
					
Net Excess/ (Shortfall)	$	57,820	$	-	$	-		

3/29/2021 3:27 PM	II

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
CENTURY PARC COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	

FISCAL YEAR

2019/2020

ACTUAL	

FISCAL YEAR

2020/2021

BUDGET	

FISCAL YEAR

2021/2022

BUDGET	

COMMENTS	

Interest Income	
2,754	
100	
25	
Projected Interest For 2021/2022	

NAV Tax Collection	
333,953	
331,996	
329,197	
2022 P & I Payments Less Earned Interest	

Total Revenues	
$	336,707	
$	332,096	
$	329,222		

EXPENDITURES					

Principal Payments	
195,000	
210,000	
215,000	
Principal Payment Due In 2022	

Interest Payments	
132,265	
122,096	
114,222	
Interest Payments Due In 2022	

Total Expenditures	
$	327,265	
$	332,096	
$	329,222		

Excess/ (Shortfall)	
$	9,442	
$	-	
$	-		

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 1/1/2021 =	November 2031

$2,835,000			

3/29/2021 3:27 PM		
III		

Century Parc Community Development District Assessment Comparison

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
2018/2019	2019/2020	2020/2021	2021/2022	
Assessment*	Assessment*	Assessment*	Projected Assessment*	

Administrative	$	100.67	$	102.46	$	98.21	$	102.06	
Maintenance	$	77.83	$	77.83	$	77.83	$	77.83	
Debt	$	461.25	$	459.32	$	463.50	$	459.60	
Total For 691 Units	$	639.75	$	639.61	$	639.54	$	639.49	

Administrative	
$	100.67	
$	102.46	
$	98.21	
$	102.06	
Maintenance	$	77.83	$	77.83	$	77.83	$	77.83	
Debt	$	461.25	$	459.32	$	463.50	$	459.60	
Total For 74 Townhomes	$	639.75	$	639.61	$	639.54	$	639.49	

* 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		

3/29/2021 3:27 PM	IV