A.H. At Turnpike South 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 (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 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	
FISCAL YEAR 2018/2019
BUDGET	
O&M Assessments	87,489	
Debt Assessments (2015)	352,394	
Debt Assessments (2016)	287,017	
Interest Income	60	
		
TOTAL REVENUES	$	726,960	
		
EXPENDITURES		
Supervisor Fees	0	
Engineering/Inspections	3,250	
Management	31,200	
Legal	13,500	
Assessment Roll	7,500	
Audit Fees	4,500	
Insurance	6,325	
Legal Advertisements	1,300	
Miscellaneous	1,000	
Postage	600	
Office Supplies	950	
Dues & Subscriptions	175	
Trustee Fees	8,500	
Continuing Disclosure Fee	2,000	
Website Management	1,500	
		
TOTAL EXPENDITURES	$	82,300	
		
REVENUES LESS EXPENDITURES	$	644,660	
		
Bond Payments (2015)	(331,250)	
Bond Payments (2016)	(272,500)	
		
BALANCE	$	40,910	
		
County Appraiser & Tax Collector Fee	(13,637)	
Discounts For Early Payments	(27,273)	
		
EXCESS/ (SHORTFALL)	$	-	

DETAILED FINAL BUDGET
A.H. AT TURNPIKE SOUTH 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	
O&M Assessments	81,224	87,534	87,489	Expenditures Less Interest/.94	
Debt Assessments (2015)	352,393	352,394	352,394	Bond Payments/.94	
Debt Assessments (2016)	0	287,017	287,017	Bond Payments/.94	
Interest Income	90	60	60	Estimated At $5 Per Month	
					
TOTAL REVENUES	$	433,707	$	727,005	$	726,960		
					
EXPENDITURES					
Supervisor Fees	0	0	0		
Engineering/Inspections	2,500	5,000	3,250	$1,750 Decrease From 2017/2018 Budget	
Management	29,940	30,564	31,200	CPI Adjustment	
Legal	11,175	14,000	13,500	Fiscal Year 2017/2018 Expenditures As Of February 2018 Were $3,079	
Assessment Roll	2,500	7,500	7,500	As Per Contract	
Audit Fees	4,500	3,000	4,500	Accepted Amount For 2017/2018 Audit	
Insurance	5,457	6,003	6,325	Insurance Estimate	
Legal Advertisements	1,006	1,500	1,300	$200 Decrease From 2017/2018 Budget	
Miscellaneous	207	1,000	1,000	No Change From 2017/2018 Budget	
Postage	285	650	600	$50 Decrease From 2017/2018 Budget	
Office Supplies	880	950	950	No Change From 2017/2018 Budget	
Dues & Subscriptions	175	175	175	No Change From 2017/2018 Budget	
Trustee Fees	4,337	8,500	8,500	Two Bond Issues: Series 2015 & Series 2016	
Continuing Disclosure Fee	1,000	2,000	2,000	Two Bond Issues: Series 2015 & Series 2016	
Website Management	1,500	1,500	1,500	No Change From 2017/2018 Budget	
					
TOTAL EXPENDITURES	$	65,462	$	82,342	$	82,300		
					
REVENUES LESS EXPENDITURES	$	368,245	$	644,663	$	644,660		
					
Bond Payments (2015)	(338,624)	(331,250)	(331,250)	2019 P & I Payments Less Interest	
Bond Payments (2016)	0	(272,500)	(272,500)	2019 P & I Payments Less Interest	
					
BALANCE	$	29,621	$	40,913	$	40,910		
					
County Appraiser & Tax Collector Fee	(4,208)	(13,638)	(13,637)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(12,733)	(27,275)	(27,273)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	12,680	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND (SERIES 2015) BUDGET
A.H. AT TURNPIKE SOUTH 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	
542	
50	
50	
Projected Interest For 2018/2019	

NAV Tax Collection	
338,624	
331,250	
331,250	
Maximum Debt Service Collection	

Total Revenues	
$	339,166	
$	331,300	
$	331,300		

EXPENDITURES					

Principal Payments	
55,000	
60,000	
65,000	
Principal Payments Due In 2019	

Interest Payments	
272,075	
269,050	
265,750	
Interest Payments Due In 2019	

Bond Redemption	
0	
2,250	
550	
Estimated Excess Debt Collections	

Total Expenditures	
$	327,075	
$	331,300	
$	331,300		

Excess/ (Shortfall)	
$	12,091	
$	-	
$	-		

Series 2015 Bond Information
Original Par Amount =	$4,430,000	Annual Principal Payments Due =	November 1st	
Interest Rate = Issue Date = Maturity Date =	5.5% - 6.25%
February 2015
November 2046	Annual Interest Payments Due =	May 1st & November 1st	
Par Amount As Of 1/1/2018 =	$4,375,000			

DETAILED FINAL DEBT SERVICE FUND (SERIES 2016) BUDGET
A.H. AT TURNPIKE SOUTH 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	
348	
50	
0	
Projected Interest For 2018/2019	

NAV Tax Collection	
0	
272,500	
272,500	
Maximum Debt Service Collection	

Capitalized Interest	
79,920	
0	
0	

2017 Interest Payments Paid By Capitalized Interest	

Total Revenues	
$	80,268	
$	272,550	
$	272,500		

EXPENDITURES					

Principal Payments	
0	
60,000	
65,000	
Principal Payments Due In 2019	

Interest Payments	
79,920	
208,488	
206,088	
Interest Payments Due In 2019	

Bond Redemption	
0	
4,062	
1,412	
Estimated Excess Debt Collections	

Total Expenditures	
$	79,920	
$	272,550	
$	272,500		

Excess/ (Shortfall)	
$	348	
$	-	
$	-		

Series 2016 Bond Information
Original Par Amount =	$3,975,000	Annual Principal Payments Due =	November 1st	
Interest Rate = Issue Date = Maturity Date =	4% - 5.5%
December 2016
November 2047	Annual Interest Payments Due =	May 1st & November 1st	
Par Amount As Of 1/1/2018 =	$3,975,000			

Capitalized Interest Was Set-Up Through November 2017

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

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

O & M	
$	
265.00	
$	
200.57	
$	
218.29	
$	
218.18	
Debt (221 Phase One Units)	$	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	
O & M	$	265.00	$	200.57	$	218.29	$	218.18	
Debt (180 Phase Two Units)	$	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	

* 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	

6/10/2018 6:03 PM	V