A.H. At Turnpike South Community Development District

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

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2015) IV     DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2016) V	DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2021) VI ASSESSMENT COMPARISON

FINAL BUDGET
A.H. AT TURNPIKE SOUTH COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2021/2022
BUDGET	
O&M Assessments	99,954	
Debt Assessments (2015)	350,799	
Debt Assessments (2016)	287,017	
Debt Assessments (2021)	113,617	
Interest Income	120	
		
TOTAL REVENUES	$	851,507	
		
EXPENDITURES		
Supervisor Fees	0	
Engineering/Inspections	3,250	
Management	32,952	
Legal	13,000	
Assessment Roll	7,500	
Audit Fees	5,500	
Insurance	6,100	
Legal Advertisements	1,300	
Miscellaneous	975	
Postage	475	
Office Supplies	850	
Dues & Subscriptions	175	
Trustee Fees	13,000	
Continuing Disclosure Fee	2,000	
Website Management	2,000	
Contingency	5,000	
TOTAL EXPENDITURES	$	94,077	
		
REVENUES LESS EXPENDITURES	$	757,430	
		
Bond Payments (2015)	(329,751)	
Bond Payments (2016)	(272,500)	
Bond Payments (2021)	(107,936)	
		
BALANCE	$	47,243	
		
County Appraiser & Tax Collector Fee	(15,748)	
Discounts For Early Payments	(31,495)	
		
EXCESS/ (SHORTFALL)	$	-	

DETAILED FINAL BUDGET
A.H. AT TURNPIKE SOUTH 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	
O&M Assessments	89,992	87,381	99,954	Expenditures Less Interest/Discounts & Fees	
Debt Assessments (2015)	352,394	352,394	350,799	Bond Payments/.96 Discounts & Fees	
Debt Assessments (2016)	287,017	287,017	287,017	Bond Payments/.96 Discounts & Fees	
Debt Assessments (2021)	0	0	113,617	Bond Payments/.96 Discounts & Fees	
Interest Income	322	120	120	Estimated At $10 Per Month	
					
TOTAL REVENUES	$	729,725	$	726,912	$	851,507		
					
EXPENDITURES					
Supervisor Fees	0	0	0		
Engineering/Inspections	0	3,250	3,250	No Change From 2020/2021 Budget	
Management	31,788	32,508	32,952	CPI Adjustment	
Legal	11,041	13,000	13,000	No Change From 2020/2021 Budget	
Assessment Roll	7,500	7,500	7,500	As Per Contract	
Audit Fees	3,600	4,600	5,500	Increased Due To Third Bond Issue	
Insurance	5,251	6,100	6,100	Insurance Estimate	
Legal Advertisements	4,684	1,300	1,300	No Change From 2020/2021 Budget	
Miscellaneous	262	975	975	No Change From 2020/2021 Budget	
Postage	343	500	475	$25 Decrease From 2020/2021 Budget	
Office Supplies	639	850	850	No Change From 2020/2021 Budget	
Dues & Subscriptions	175	175	175	No Change From 2020/2021 Budget	
Trustee Fees	8,046	8,500	13,000	Increased Due To Third Bond Issue	
Continuing Disclosure Fee	850	1,000	2,000	Increased Due To Third Bond Issue	
Website Management	2,000	2,000	2,000	No Change From 2020/2021 Budget	
Contingency	0	0	5,000	Contingency	
TOTAL EXPENDITURES	$	76,179	$	82,258	$	94,077		
					
REVENUES LESS EXPENDITURES	$	653,546	$	644,654	$	757,430		
					
Bond Payments (2015)	(337,410)	(331,250)	(329,751)	2022 P & I Payments Less Interest	
Bond Payments (2016)	(272,781)	(272,500)	(272,500)	2022 P & I Payments Less Interest	
Bond Payments (2021)	0	0	(107,936)	2022 P & I Payments Less Interest	
					
BALANCE	$	43,355	$	40,904	$	47,243		
					
County Appraiser & Tax Collector Fee	(7,026)	(13,635)	(15,748)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(26,210)	(27,269)	(31,495)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	10,119	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND (SERIES 2015) BUDGET
A.H. AT TURNPIKE SOUTH 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	
266	
50	
25	
Projected Interest For 2021/2022	

NAV Tax Collection	
337,410	
331,250	
329,751	
Maximum Debt Service Collection	

Prepaid Bond Collection	
18,937	
0	
0		

Total Revenues	
$	356,613	
$	331,300	
$	329,776		

EXPENDITURES					

Principal Payments	
65,000	
70,000	
75,000	
Principal Payments Due In 2022	

Interest Payments	
263,963	
258,600	
253,813	
Interest Payments Due In 2022	

Bond Redemption	
0	
2,700	
963	
Estimated Excess Debt Collections	

Total Expenditures	
$	328,963	
$	331,300	
$	329,776		

Excess/ (Shortfall)	
$	27,650	
$	-	
$	-		

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 1/1/2021 =	November 2046

$4,170,000			

DETAILED FINAL DEBT SERVICE FUND (SERIES 2016) BUDGET
A.H. AT TURNPIKE SOUTH 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	
207	
50	
25	
Projected Interest For 2021/2022	

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

Total Revenues	
$	272,988	
$	272,550	
$	272,525		

EXPENDITURES					

Principal Payments	
65,000	
70,000	
70,000	
Principal Payments Due In 2022	

Interest Payments	
204,788	
200,888	
198,088	
Interest Payments Due In 2022	

Bond Redemption	
0	
1,662	
4,437	
Estimated Excess Debt Collections	

Transfer To Construction Fund	
114	
0	
0		

Total Expenditures	
$	269,902	
$	272,550	
$	272,525		

Excess/ (Shortfall)	
$	3,086	
$	-	
$	-		

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 1/1/2021 =	November 2047

$3,785,000			

DETAILED FINAL DEBT SERVICE FUND (SERIES 2021) BUDGET
A.H. AT TURNPIKE SOUTH 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	
0	
0	
25	
Projected Interest For 2021/2022	

NAV Tax Collection	
0	
0	
107,936	
Maximum Debt Service Collection	

Total Revenues	
$	-	
$	-	
$	107,961		

EXPENDITURES					

Principal Payments	
0	
0	
40,000	
Principal Payments Due In 2022	

Interest Payments	
0	
0	
65,815	
Interest Payments Due In 2022	

Bond Redemption	
0	
0	
2,146	
Estimated Excess Debt Collections	

Total Expenditures	
$	-	
$	-	
$	107,961		

Excess/ (Shortfall)	
$	-	
$	-	
$	-		

Series 2021 Bond Information
Original Par Amount =	$1,915,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	2.35% - 4%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	March 2021			
Maturity Date =

Par Amount As Of 3/10/2021 =	November 2047

$1,915,000			

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

Original Projected Assessment
    (Methodology)* 	
Fiscal Year 2018/2019
 	Assessment*		
Fiscal Year 2019/2020
 	Assessment*		
Fiscal Year 2020/2021
 	Assessment*		
Fiscal Year 2021/2022
    Projected Assessment* 	

O & M	
$	
265.00	
$	
218.18	
$	
218.06	
$	
217.91	
$	
211.32	
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	$	1,812.72	$	1,812.60	$	1,812.45	$	1,805.86	
O & M	$	265.00	$	218.18	$	218.06	$	217.91	$	211.32	
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	$	1,812.72	$	1,812.60	$	1,812.45	$	1,805.86	

O & M	
$	265.00	
$	-	$	-	$	-	$	211.32	
Debt (72 Phase Three Units)	$	1,578.02	$	-		$	-		$	-		$	1,578.02	
Total For Phase Three Units	$	1,843.02	$	-	$	-	$	-	$	1,789.34	

* Assessments Include the Following :	                          4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee

Community Information:	

Phase One Lots	221	Phase 1 Lots Information		
Phase Two Lots	180	Total Units	221	
Phase Three Lots	72	Prepayments	1	
Total	473	Billed For Debt	220	

6/16/2021 4:05 PM	VI