A.H. At Turnpike South 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 (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 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2020/2021
BUDGET	
O&M Assessments	87,381	
Debt Assessments (2015)	352,394	
Debt Assessments (2016)	287,017	
Interest Income	120	
		
TOTAL REVENUES	$	726,912	
		
EXPENDITURES		
Supervisor Fees	0	
Engineering/Inspections	3,250	
Management	32,508	
Legal	13,000	
Assessment Roll	7,500	
Audit Fees	4,600	
Insurance	6,100	
Legal Advertisements	1,300	
Miscellaneous	975	
Postage	500	
Office Supplies	850	
Dues & Subscriptions	175	
Trustee Fees	8,500	
Continuing Disclosure Fee	1,000	
Website Management	2,000	
		
TOTAL EXPENDITURES	$	82,258	
		
REVENUES LESS EXPENDITURES	$	644,654	
		
Bond Payments (2015)	(331,250)	
Bond Payments (2016)	(272,500)	
		
BALANCE	$	40,904	
		
County Appraiser & Tax Collector Fee	(13,635)	
Discounts For Early Payments	(27,269)	
		
EXCESS/ (SHORTFALL)	$	-	

DETAILED FINAL BUDGET
A.H. AT TURNPIKE SOUTH 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	
O&M Assessments	88,457	87,439	87,381	Expenditures Less Interest/.94	
Debt Assessments (2015)	352,393	352,394	352,394	Bond Payments/.94	
Debt Assessments (2016)	287,017	287,017	287,017	Bond Payments/.94	
Interest Income	227	120	120	Estimated At $10 Per Month	
					
TOTAL REVENUES	$	728,094	$	726,970	$	726,912		
					
EXPENDITURES					
Supervisor Fees	0	0	0		
Engineering/Inspections	2,600	3,250	3,250	No Change From 2019/2020 Budget	
Management	31,200	31,788	32,508	CPI Adjustment	
Legal	8,527	13,500	13,000	Fiscal Year 2019/2020 Expenditures As Of December 2019 Were $2,195	
Assessment Roll	4,750	7,500	7,500	As Per Contract	
Audit Fees	4,500	4,600	4,600	No Change From 2019/2020 Budget	
Insurance	5,000	6,250	6,100	Insurance Estimate	
Legal Advertisements	559	1,300	1,300	No Change From 2019/2020 Budget	
Miscellaneous	263	1,000	975	$25 Decrease From 2019/2020 Budget	
Postage	113	550	500	$50 Decrease From 2019/2020 Budget	
Office Supplies	339	900	850	$50 Decrease From 2019/2020 Budget	
Dues & Subscriptions	175	175	175	No Change From 2019/2020 Budget	
Trustee Fees	8,046	8,500	8,500	Two Bond Issues: Series 2015 & Series 2016	
Continuing Disclosure Fee	1,000	1,000	1,000	No Change From 2019/2020 Budget	
Website Management	1,500	2,000	2,000	No Change From 2019/2020 Budget	
					
TOTAL EXPENDITURES	$	68,572	$	82,313	$	82,258		
					
REVENUES LESS EXPENDITURES	$	659,522	$	644,657	$	644,654		
					
Bond Payments (2015)	(335,530)	(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	$	51,211	$	40,907	$	40,904		
					
County Appraiser & Tax Collector Fee	(6,991)	(13,636)	(13,635)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(28,369)	(27,271)	(27,269)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	15,851	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND (SERIES 2015) BUDGET
A.H. AT TURNPIKE SOUTH 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	
1,082	
50	
50	
Projected Interest For 2020/2021	

NAV Tax Collection	
335,530	
331,250	
331,250	
Maximum Debt Service Collection	

Total Revenues	
$	336,612	
$	331,300	
$	331,300		

EXPENDITURES					

Principal Payments	
60,000	
65,000	
70,000	
Principal Payments Due In 2021	

Interest Payments	
267,400	
265,750	
258,600	
Interest Payments Due In 2021	

Bond Redemption	
0	
550	
2,700	
Estimated Excess Debt Collections	

Total Expenditures	
$	327,400	
$	331,300	
$	331,300		

Excess/ (Shortfall)	
$	9,212	
$	-	
$	-		

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 1/1/2020 =	$4,250,000			

DETAILED FINAL DEBT SERVICE FUND (SERIES 2016) BUDGET
A.H. AT TURNPIKE SOUTH 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	
885	
25	
50	
Projected Interest For 2020/2021	

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

Total Revenues	
$	273,666	
$	272,525	
$	272,550		

EXPENDITURES					

Principal Payments	
60,000	
65,000	
70,000	
Principal Payments Due In 2021	

Interest Payments	
207,287	
203,488	
200,888	
Interest Payments Due In 2021	

Bond Redemption	
0	
4,037	
1,662	
Estimated Excess Debt Collections	

Transfer To Construction Fund	
391	
0	
0		

Total Expenditures	
$	267,678	
$	272,525	
$	272,550		

Excess/ (Shortfall)	
$	5,988	
$	-	
$	-		

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 1/1/2020 =	$3,850,000			

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

Original
Projected	
Fiscal Year	
Fiscal Year	
Fiscal Year	
Fiscal Year	
Assessment	2017/2018	2018/2019	2019/2020	2020/2021	
    (Methodology)* 	 	Assessment*		 	Assessment*		 	Assessment*		    Projected Assessment* 	

O & M	
$	
265.00	
$	
218.29	
$	
218.18	
$	
218.06	
$	
217.91	
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	$	1,812.83	$	1,812.72	$	1,812.60	$	1,812.45	
O & M	$	265.00	$	218.29	$	218.18	$	218.06	$	217.91	
Debt (180 Phase Two Units)	$	1,594.54	$	1,594.54	$	1,594.54	$	1,594.54	$	1,594.54	
Total For Phase Two Units	$	1,859.54	$	1,812.83	$	1,812.72	$	1,812.60	$	1,812.45	

* 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	

7/18/2020 3:22 PM	V