A.H. At Turnpike South Community Development District

Final Budget For Fiscal Year 2017/2018
October 1, 2017 - September 30, 2018

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2015)

DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2016) V	ASSESSMENT COMPARISON

FINAL BUDGET
A.H. AT TURNPIKE SOUTH COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2017/2018
OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	
FISCAL YEAR 2017/2018 BUDGET	
O&M Assessments	87,534	
Developer Contribution	0	
Debt Assessments (2015)	352,394	
Debt Assessments (2016)	287,017	
Interest Income	60	
		
TOTAL REVENUES	$	727,005	
		
EXPENDITURES		
Supervisor Fees	0	
Engineering/Inspections	5,000	
Management	30,564	
Legal	14,000	
Assessment Roll	7,500	
Audit Fees	3,000	
Insurance	6,003	
Legal Advertisements	1,500	
Miscellaneous	1,000	
Postage	650	
Office Supplies	950	
Dues & Subscriptions	175	
Arbitrage Rebate Fee	0	
Trustee Fees	8,500	
Continuing Disclosure Fee	2,000	
Website Management	1,500	
		
TOTAL EXPENDITURES	$	82,342	
		
REVENUES LESS EXPENDITURES	$	644,663	
		
Bond Payments (2015)	(331,250)	
Bond Payments (2016)	(272,500)	
		
BALANCE	$	40,913	
		
County Appraiser & Tax Collector Fee	(13,638)	
Discounts For Early Payments	(27,275)	
		
EXCESS/ (SHORTFALL)	$	-	

5/15/2017 7:58 AM	I

DETAILED FINAL BUDGET
A.H. AT TURNPIKE SOUTH COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2017/2018
OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	
FISCAL YEAR 2015/2016 ACTUAL	
FISCAL YEAR 2016/2017 BUDGET	
FISCAL YEAR 2017/2018 BUDGET	

COMMENTS	
O&M Assessments	0	80,429	87,534	Expenditures Less Interest/.94	
Developer Contribution	71,873	0	0	Developer  Contribution	
Debt Assessments (2015)	0	347,952	352,394	Bond Payments/.94	
Debt Assessments (2016)	0	0	287,017	Bond Payments/.94	
Interest Income	15	12	60	Estimated At $5 Per Month	
					
TOTAL REVENUES	$	71,888	$	428,393	$	727,005		
					
EXPENDITURES					
Supervisor Fees	0	0	0		
Engineering/Inspections	0	5,000	5,000	No Change From 2016/2017 Budget	
Management	29,736	29,940	30,564	CPI Adjustment	
Legal	14,075	12,000	14,000	Fiscal Year 2016/2017 Expenditures As Of January 2017 Were $5,864	
Assessment Roll	1,000	7,500	7,500	As Per Contract	
Audit Fees	3,000	3,000	3,000	No Change From 2016/2017 Budget	
Insurance	5,350	5,800	6,003	Insurance Estimate	
Legal Advertisements	532	2,000	1,500	$500 Decrease From 2016/2017 Budget	
Miscellaneous	86	1,000	1,000	No Change From 2016/2017 Budget	
Postage	281	700	650	$50 Decrease From 2016/2017 Budget	
Office Supplies	542	1,000	950	$50 Decrease From 2016/2017 Budget	
Dues & Subscriptions	175	175	175	No Change From 2015/2016 Budget	
Arbitrage Rebate Fee	0	1,300	0	District Qualifies For The Small User Exception	
Trustee Fees	7,637	3,700	8,500	Two Bond Issues: Series 2015 & Series 2016	
Continuing Disclosure Fee	1,000	1,000	2,000	Two Bond Issues: Series 2015 & Series 2016	
Website Management	1,500	1,500	1,500	No Change From 2016/2017 Budget	
					
TOTAL EXPENDITURES	$	64,914	$	75,615	$	82,342		
					
REVENUES LESS EXPENDITURES	$	6,974	$	352,778	$	644,663		
					
Bond Payments (2015)	0	(327,075)	(331,250)	2018 P & I Payments Less Interest	
Bond Payments (2016)	0	0	(272,500)	2018 P & I Payments Less Interest	
					
BALANCE	$	6,974	$	25,703	$	40,913		
					
County Appraiser & Tax Collector Fee	0	(8,568)	(13,638)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	0	(17,135)	(27,275)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	6,974	$	-	$	-		

5/15/2017  7:58 AM	II

DETAILED FINAL DEBT SERVICE FUND (SERIES 2015) BUDGET
A.H. AT TURNPIKE SOUTH COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2017/2018
OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	FISCAL YEAR 2015/2016 ACTUAL	FISCAL YEAR 2016/2017 BUDGET	FISCAL YEAR 2017/2018 BUDGET	

COMMENTS	

Interest Income	

283	

50	

50	

Projected Interest For 2017/2018	

NAV Tax Collection	

0	

327,025	

331,250	

Maximum Debt Service Collection	

Capitalized Interest	

272,075	

0	

0	

2016 Interest Payments Paid By Capitalized Interest	

Total Revenues	

$	

272,358	

$	

327,075	

$	

331,300		

EXPENDITURES					

Principal Payments	

0	

55,000	

60,000	

Principal Payments Due In 2018	

Interest Payments	

272,075	

272,075	

269,050	

Interest Payments Due In 2018	

Bond Redemption	

0	

0	

2,250	

Estimated Excess Debt Collections	

Total Expenditures	

$	

272,075	

$	

327,075	

$	

331,300		

Excess/ (Shortfall)	

$	

283	

$	

-	

$	

-		

Series 2015 Bond Information

Original Par Amount =	$4,430,000	Annual Principal Payments Due =	November 1st	
Interest Rate =	5.5% - 6.25%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	February 2015			
Maturity Date =	November 2046			

Capitalized Interest Was Set-Up Through November 2016

5/15/2017 7:58 AM	III

DETAILED FINAL DEBT SERVICE FUND (SERIES 2016) BUDGET
A.H. AT TURNPIKE SOUTH COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2017/2018
OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	FISCAL YEAR 2015/2016 ACTUAL	FISCAL YEAR 2016/2017 BUDGET	FISCAL YEAR 2017/2018 BUDGET	

COMMENTS	

Interest Income	

0	

0	

50	

Projected Interest For 2017/2018	

NAV Tax Collection	

0	

0	

272,500	

Maximum Debt Service Collection	

Capitalized Interest	

0	

184,164	

0	

2017 Interest Payments Paid By Capitalized Interest	

Total Revenues	

$	

-	

$	

184,164	

$	

272,550		

EXPENDITURES					

Principal Payments	

0	

0	

60,000	

Principal Payments Due In 2018	

Interest Payments	

0	

184,164	

208,488	

Interest Payments Due In 2018	

Bond Redemption	

0	

0	

4,062	

Estimated Excess Debt Collections	

Total Expenditures	

$	

-	

$	

184,164	

$	

272,550		

Excess/ (Shortfall)	

$	

-	

$	

-	

$	

-		

Series 2016 Bond Information

Original Par Amount =	$3,975,000	Annual Principal Payments Due =	November 1st	
Interest Rate =	4% - 5.5%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	December 2016			
Maturity Date =	November 2047			

Capitalized Interest Was Set-Up Through November 2017

5/15/2017 7:58 AM	IV

A.H. At Turnpike South Community Development District Assessment Comparison

Original Projected Assessment
   (Methodology)* 		

 	
Fiscal Year	Fiscal Year
2015/2016	2016/2017
Assessment*	 	Assessment* 	
Fiscal Year 2017/2018
    Projected Assessment* 	
O & M	$	265.00			$	-	$	200.57	$	218.29	
Debt (221 Phase One Units)	$	1,594.54			$	-	$	1,594.54	$	1,594.54	
Total For Phase One Units	$	1,859.54			$	-	$	1,795.11	$	1,812.83	
O & M	$	265.00			$	-	$	200.57	$	218.29	
Debt (180 Phase Two Units)	$	1,594.54			$	-	$	- 	$	1,594.54	
Total For Phase Two Units	$	1,859.54			$	-	$	200.57	$	1,812.83	
* Assessments Include the Following : 			
4% Discount for Early Payments			
1% County Tax Collector Fee			
1% County Property Appraiser Fee			
Community Information: 			
Phase One	221		
Phase Two	180		
Total	401		

5/15/2017 7:58 AM	V