A.H. At Turnpike South Community Development District

Final Budget For Fiscal Year 2019/2020
October 1, 2019 - September 30, 2020

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2015) IV       DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2016) V	ASSESSMENT  COMPARISON

FINAL BUDGET
A.H. AT TURNPIKE SOUTH COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2019/2020 BUDGET	
O&M Assessments	87,439	
Debt Assessments (2015)	352,394	
Debt Assessments (2016)	287,017	
Interest Income	120	
		
TOTAL REVENUES	$		726,970	
		
EXPENDITURES		
Supervisor Fees	0	
Engineering/Inspections	3,250	
Management	31,788	
Legal	13,500	
Assessment Roll	7,500	
Audit Fees	4,600	
Insurance	6,250	
Legal Advertisements	1,300	
Miscellaneous	1,000	
Postage	550	
Office Supplies	900	
Dues & Subscriptions	175	
Trustee Fees	8,500	
Continuing Disclosure Fee	1,000	
Website Management	2,000	
		
TOTAL EXPENDITURES	$		82,313	
		
REVENUES LESS EXPENDITURES	$		644,657	
		
Bond Payments (2015)	(331,250)	
Bond Payments (2016)	(272,500)	
		
BALANCE	$		40,907	
		
County Appraiser & Tax Collector Fee	(13,636)	
Discounts For Early Payments	(27,271)	
		
EXCESS/ (SHORTFALL)	$		-	

6/16/2019 1:03 PM	I

DETAILED FINAL BUDGET
A.H. AT TURNPIKE SOUTH COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2017/2018 ACTUAL	
FISCAL YEAR 2018/2019 BUDGET	
FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	
O&M Assessments	90,409	87,489	87,439	Expenditures Less Interest/.94	
Debt Assessments (2015)	352,394	352,394	352,394	Bond Payments/.94	
Debt Assessments (2016)	287,017	287,017	287,017	Bond Payments/.94	
Interest Income	150	60	120	Estimated At $10 Per Month	
					
TOTAL REVENUES	$	729,970	$	726,960	$	726,970		
					
EXPENDITURES					
Supervisor Fees	0	0	0		
Engineering/Inspections	2,500	3,250	3,250	No Change From 2018/2019 Budget	
Management	30,564	31,200	31,788	CPI Adjustment	
Legal	14,224	13,500	13,500	Fiscal Year 2018/2019 Expenditures As Of February 2019 Were $3,260	
Assessment Roll	3,750	7,500	7,500	As Per Contract	
Audit Fees	4,500	4,500	4,600	$100 Increase From 2018/2019 Budget	
Insurance	5,750	6,325	6,250	Insurance Estimate	
Legal Advertisements	925	1,300	1,300	No Change From 2018/2019 Budget	
Miscellaneous	406	1,000	1,000	No Change From 2018/2019 Budget	
Postage	255	600	550	$50 Decrease From 2018/2019 Budget	
Office Supplies	630	950	900	$50 Decrease From 2018/2019 Budget	
Dues & Subscriptions	175	175	175	No Change From 2018/2019 Budget	
Trustee Fees	8,046	8,500	8,500	Two Bond Issues: Series 2015 & Series 2016	
Continuing Disclosure Fee	1,000	2,000	1,000	$1,000 Decrease From 2018/2019 Budget	
Website Management	1,500	1,500	2,000	$500 Increase From 2018/2019 Budget	
					
TOTAL EXPENDITURES	$	74,225	$	82,300	$	82,313		
					
REVENUES LESS EXPENDITURES	$	655,745	$	644,660	$	644,657		
					
Bond Payments (2015)	(337,898)	(331,250)	(331,250)	2020 P & I Payments Less Interest	
Bond Payments (2016)	(272,781)	(272,500)	(272,500)	2020 P & I Payments Less Interest	
					
BALANCE	$	45,066	$	40,910	$	40,907		
					
County Appraiser & Tax Collector Fee	(7,038)	(13,637)	(13,636)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(25,652)	(27,273)	(27,271)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	12,376	$	-	$	-		

6/16/2019  1:03 PM	II

DETAILED FINAL DEBT SERVICE FUND (SERIES 2015) BUDGET
A.H. AT TURNPIKE SOUTH COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2017/2018 ACTUAL	FISCAL YEAR 2018/2019 BUDGET	FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	

Interest Income	
787	
50	
50	

Projected Interest For 2019/2020	

NAV Tax Collection	
337,898	
331,250	
331,250	

Maximum Debt Service Collection	

Total Revenues	
$	
338,685	
$	
331,300	
$	
331,300		

EXPENDITURES					

Principal Payments	
55,000	
65,000	
65,000	

Principal Payments Due In 2020	

Interest Payments	
270,563	
265,750	
262,175	

Interest Payments Due In 2020	

Bond Redemption	
0	
550	
4,125	

Estimated Excess Debt Collections	

Total Expenditures	
$	
325,563	
$	
331,300	
$	
331,300		

Excess/ (Shortfall)	
$	
13,122	
$	
-	
$	
-		

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 =

Par Amount As Of 1/1/2019 =	November 2046

$4,315,000			

6/16/2019 1:03 PM	III

DETAILED FINAL DEBT SERVICE FUND (SERIES 2016) BUDGET
A.H. AT TURNPIKE SOUTH COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2017/2018 ACTUAL	FISCAL YEAR 2018/2019 BUDGET	FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	

Interest Income	
396	
0	
25	
Projected Interest For 2019/2020	

NAV Tax Collection	
272,781	
272,500	
272,500	
Maximum Debt Service Collection	

Total Revenues	
$	
273,177	
$	
272,500	
$	
272,525		

EXPENDITURES					

Principal Payments	
0	
65,000	
65,000	
Principal Payments Due In 2020	

Interest Payments	
208,488	
206,088	
203,488	
Interest Payments Due In 2020	

Bond Redemption	
0	
1,412	
4,037	
Estimated Excess Debt Collections	

Total Expenditures	
$	
208,488	
$	
272,500	
$	
272,525		

Excess/ (Shortfall)	
$	
64,689	
$	
-	
$	
-		

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 =

Par Amount As Of 1/1/2019 =	November 2047

$3,915,000			

6/16/2019 1:03 PM	IV

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

Original		
Projected	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
Assessment	2016/2017	2017/2018	2018/2019	2019/2020	
   (Methodology)* 	 	Assessment* 	 	Assessment* 	 	Assessment* 	    Projected  Assessment* 	

O & M	$	265.00	$	200.57	$	218.29	$	218.18	$	218.06	
Debt (221 Phase One Units)	$ 	1,594.54	$ 	1,594.54	$ 	1,594.54	$ 	1,594.54	$ 	1,594.54	
Total For Phase One Units	$	1,859.54	$	1,795.11	$	1,812.83	$	1,812.72	$	1,812.60	
O & M	$	265.00	$	200.57	$	218.29	$	218.18	$	218.06	
Debt (180 Phase Two Units)	$ 	1,594.54	$ 	- 	$ 	1,594.54	$ 	1,594.54	$ 	1,594.54	
Total For Phase Two Units	$	1,859.54	$	200.57	$	1,812.83	$	1,812.72	$	1,812.60	

* 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	

6/16/2019 1:03 PM	V