A.H. At Turnpike South Community Development District

Final Budget For Fiscal Year 2022/2023
October 1, 2022 - September 30, 2023

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2015)

DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2016)

DETAILED FINAL DEBT SERVICE FUND BUDGET (SERIES 2021)

ASSESSMENT COMPARISON

FINAL BUDGET
A.H. AT TURNPIKE SOUTH COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2022/2023 BUDGET	
O&M Assessments	99,804	
Debt Assessments (2015)	350,799	
Debt Assessments (2016)	287,017	
Debt Assessments (2021)	113,617	
Interest Income	120	
TOTAL REVENUES	$	851,357	
		
EXPENDITURES		
Supervisor Fees	5,000	
Payroll Taxes (Employer)	400	
Engineering/Inspections	3,250	
Management	33,936	
Legal	13,000	
Assessment Roll	7,500	
Audit Fees	5,500	
Insurance	6,100	
Legal Advertisements	1,250	
Miscellaneous	950	
Postage	450	
Office Supplies	825	
Dues & Subscriptions	175	
Trustee Fees	13,000	
Continuing Disclosure Fee	2,000	
Website Management	2,000	
Mailbox Stations Services	12,000	
Contingency	4,000	
TOTAL EXPENDITURES	$	111,336	
		
REVENUES LESS EXPENDITURES	$	740,021	
		
Bond Payments (2015)	(329,751)	
Bond Payments (2016)	(272,500)	
Bond Payments (2021)	(107,936)	
		
BALANCE	$	29,834	
		
County Appraiser & Tax Collector Fee	(15,745)	
Discounts For Early Payments	(31,489)	
		
EXCESS/ (SHORTFALL)	$	(17,400)	
		
Carryover From Prior Year	17,400	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED FINAL BUDGET
A.H. AT TURNPIKE SOUTH COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	
FISCAL YEAR 2020/2021 ACTUAL	
FISCAL YEAR 2021/2022 BUDGET	
FISCAL YEAR 2022/2023 BUDGET	

COMMENTS	
O&M Assessments	88,928	99,954	99,804	Expenditures Less Interest/Discounts & Fees	
Debt Assessments (2015)	350,799	350,799	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	113,617	113,617	Bond Payments/.96 Discounts & Fees	
Interest Income	400	120	120	Estimated At $10 Per Month	
TOTAL REVENUES	$	727,144	$	851,507	$	851,357		
					
EXPENDITURES					
Supervisor Fees	0	0	5,000	Supervisor Fees	
Payroll Taxes (Employer)	0	0	400	Projected At 8% Of Supervisor Fees	
Engineering/Inspections	0	3,250	3,250	No Change From 2021/2022 Budget	
Management	32,508	32,952	33,936	CPI Adjustment (Capped At 3%)	
Legal	7,990	13,000	13,000	$500 Decrease From 2021/2022 Budget	
Assessment Roll	7,500	7,500	7,500	As Per Contract	
Audit Fees	3,700	5,500	5,500	Increased Due To Third Bond Issue	
Insurance	5,513	6,100	6,100	Insurance Estimate	
Legal Advertisements	646	1,300	1,250	$50 Decrease From 2021/2022 Budget	
Miscellaneous	498	975	950	$25 Decrease From 2021/2022 Budget	
Postage	220	475	450	$25 Decrease From 2021/2022 Budget	
Office Supplies	368	850	825	$25 Decrease From 2021/2022 Budget	
Dues & Subscriptions	175	175	175	No Change From 2021/2022 Budget	
Trustee Fees	8,045	13,000	13,000	Increased Due To Third Bond Issue	
Continuing Disclosure Fee	1,200	2,000	2,000	Increased Due To Third Bond Issue	
Website Management	2,000	2,000	2,000	No Change From 2021/2022 Budget	
Mailbox Stations Services	0	0	12,000	Mailbox Stations Services	
Contingency	0	5,000	4,000	Contingency	
TOTAL EXPENDITURES	$	70,363	$	94,077	$	111,336		
					
REVENUES LESS EXPENDITURES	$	656,781	$	757,430	$	740,021		
					
Bond Payments (2015)	(335,377)	(329,751)	(329,751)	2023 P & I Payments Less Interest	
Bond Payments (2016)	(273,221)	(272,500)	(272,500)	2023 P & I Payments Less Interest	
Bond Payments (2021)	0	(107,936)	(107,936)	2023 P & I Payments Less Interest	
					
BALANCE	$	48,183	$	47,243	$	29,834		
					
County Appraiser & Tax Collector Fee	(7,005)	(15,748)	(15,745)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(26,235)	(31,495)	(31,489)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	14,943	$	-	$	(17,400)		
					
Carryover From Prior Year	0	0	17,400	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	14,943	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND (SERIES 2015) BUDGET
A.H. AT TURNPIKE SOUTH COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	FISCAL YEAR 2020/2021 ACTUAL	FISCAL YEAR 2021/2022 BUDGET	FISCAL YEAR 2022/2023 BUDGET	

COMMENTS	

Interest Income	
19	
25	
25	
Projected Interest For 2022/2023	

NAV Tax Collection	
335,377	
329,751	
329,751	
Maximum Debt Service Collection	

Prepaid Bond Collection	
0	
0	
0		

Total Revenues	
$	335,396	
$	329,776	
$	329,776		

EXPENDITURES					

Principal Payments	
65,000	
75,000	
80,000	
Principal Payments Due In 2023	

Interest Payments	
259,919	
253,813	
249,688	
Interest Payments Due In 2023	

Bond Redemption	
15,000	
963	
88	
Estimated Excess Debt Collections	

Total Expenditures	
$	339,919	
$	329,776	
$	329,776		

Excess/ (Shortfall)	
$	(4,523)	
$	-	
$	-		

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 1/1/2022 =	November 2046

$4,100,000			

DETAILED FINAL DEBT SERVICE FUND (SERIES 2016) BUDGET
A.H. AT TURNPIKE SOUTH COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	FISCAL YEAR 2020/2021 ACTUAL	FISCAL YEAR 2021/2022 BUDGET	FISCAL YEAR 2022/2023 BUDGET	

COMMENTS	

Interest Income	
15	
25	
25	
Projected Interest For 2022/2023	

NAV Tax Collection	
273,221	
272,500	
272,500	
Maximum Debt Service Collection	

Total Revenues	
$	273,236	
$	272,525	
$	272,525		

EXPENDITURES					

Principal Payments	
65,000	
70,000	
75,000	
Principal Payments Due In 2023	

Interest Payments	
202,188	
198,088	
195,288	
Interest Payments Due In 2023	

Bond Redemption	
0	
4,437	
2,237	
Estimated Excess Debt Collections	

Transfer To Construction Fund	
7	
0	
0		

Total Expenditures	
$	267,195	
$	272,525	
$	272,525		

Excess/ (Shortfall)	
$	6,041	
$	-	
$	-		

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 1/1/2022 =	November 2047

$3,715,000			

DETAILED FINAL DEBT SERVICE FUND (SERIES 2021) BUDGET
A.H. AT TURNPIKE SOUTH COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2022/2023
OCTOBER 1, 2022 - SEPTEMBER 30, 2023

REVENUES	FISCAL YEAR 2020/2021 ACTUAL	FISCAL YEAR 2021/2022 BUDGET	FISCAL YEAR 2022/2023 BUDGET	

COMMENTS	

Interest Income	
2	
25	
25	
Projected Interest For 2022/2023	

Bond Proceeds	
96,501	
0	
0		

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

Total Revenues	
$	96,503	
$	107,961	
$	107,961		

EXPENDITURES					

Principal Payments	
0	
40,000	
40,000	
Principal Payments Due In 2023	

Interest Payments	
0	
65,815	
64,875	
Interest Payments Due In 2023	

Bond Redemption	
0	
2,146	
3,086	
Estimated Excess Debt Collections	

Total Expenditures	
$	-	
$	107,961	
$	107,961		

Excess/ (Shortfall)	
$	96,503	
$	-	
$	-		

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 1/1/2022 =	May 2051

$1,915,000			

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

Original Projected Assessment
  (Methodology)* 	
Fiscal Year 2019/2020
	Assessment*		
Fiscal Year 2020/2021
	Assessment*		
Fiscal Year 2021/2022
	Assessment*		
Fiscal Year 2022/2023
  Projected Assessment* 	

O & M	
$	
265.00	
$	
218.06	
$	
217.91	
$	
211.32	
$	
211.01	
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	$	1,812.60	$	1,812.45	$	1,805.86	$	1,805.55	
O & M	$	265.00	$	218.06	$	217.91	$	211.32	$	211.01	
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	$	1,812.60	$	1,812.45	$	1,805.86	$	1,805.55	
O & M	$	265.00	$	-	$	-	$	211.32	$	211.01	
Debt (72 Phase Three Units)	$	1,578.02	$	-		$	-		$	1,578.02	$	1,578.02	
Total For Phase Three Units	$	1,843.02	$	-	$	-	$	1,789.34	$	1,789.03	

* 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	

5/15/2022 9:29 AM	VI