Century Gardens At Tamiami Community Development District

Amended Final Budget For Fiscal Year 2017/2018
October 1, 2017 - September 30, 2018

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET (SERIES 2014) III	AMENDED FINAL DEBT SERVICE FUND BUDGET (SERIES 2016) IV	AMENDED FINAL DEBT SERVICE FUND BUDGET (SERIES 2017) V	AMENDED FINAL DEBT SERVICE FUND BUDGET (SERIES 2018)

AMENDED FINAL BUDGET
CENTURY GARDENS AT TAMIAMI COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2017/2018 OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	FISCAL YEAR	AMENDED	YEAR	
	2017/2018	FINAL	TO DATE	
	BUDGET	BUDGET	ACTUAL	
	10/1/17 - 9/30/18	10/1/17 - 9/30/18	10/1/17 - 9/29/18	
Administrative Assessments	51,820	52,631	52,631	
Maintenance Assessments	38,926	38,926	38,926	
Debt Assessments - Series 2014	426,755	439,183	439,183	
Debt Assessments - Series 2016	433,803	433,167	433,167	
Debt Assessments - Series 2017	0	13,411	13,411	
Debt Assessments - Series 2018	0	0	0	
Other Revenues	0	1,675	1,675	
Other Revenues - Clubhouse	0	20,000	0	
Interest Income	420	502	502	
TOTAL REVENUES	$	951,724	$	999,495	$	979,495	
				
EXPENDITURES				
ADMINISTRATIVE  EXPENDITURES				
Supervisor Fees	1,500	0	0	
Payroll Taxes (Employer)	115	0	0	
Management	29,616	29,616	29,616	
Legal	9,000	14,000	11,626	
Assessment Roll	7,500	7,500	7,500	
Audit Fees	3,400	3,400	3,400	
Arbitrage Rebate Fee (Series 2014)	650	650	0	
Arbitrage Rebate Fee (Series 2007/2016)	650	650	650	
Insurance	6,150	5,750	5,750	
Legal Advertisements	850	1,900	1,536	
Miscellaneous	900	1,300	1,100	
Postage	325	525	508	
Office Supplies	550	1,425	1,375	
Dues & Subscriptions	175	175	175	
Trustee Fee (Series 2014)	4,500	4,500	4,500	
Trustee Fee (Series 2016)	3,750	3,709	3,709	
Continuing Disclosure Fee (Series 2014)	500	350	350	
Continuing Disclosure Fee (Series 2016)	500	350	350	
Continuing Disclosure Fee (Series 2017)	0	350	350	
Website Management	1,500	1,500	1,500	
TOTAL ADMINISTRATIVE EXPENDITURES	$	72,131	$	77,650	$	73,995	
				
MAINTENANCE  EXPENDITURES				
Engineering - Annual Report/Inspections	1,750	1,380	1,380	
Park Maintenance - Lawn & Landscape Service (Includes Mulch)	15,000	8,500	6,265	
Street/Roadway & Stormwater System Maintenance	6,000	3,000	1,905	
Irrigation System Pump Station Maintenance	2,400	2,500	1,365	
FPL Power	1,800	0	0	
Entrance Feature(s) Signage Maintenance	3,600	500	0	
Field Operation Management	840	840	840	
Miscellaneous Maintenance	5,200	2,500	451	
TOTAL MAINTENANCE EXPENDITURES	$	36,590	$	19,220	$	12,206	
				
TOTAL CLUBHOUSE EXPENDITURES	$	-	$	20,000	$	4,447	
				
TOTAL EXPENDITURES	$	108,721	$	116,870	$	90,648	
				
REVENUES LESS EXPENDITURES	$	843,003	$	882,625	$	888,847	
				
Bond Payments - Series 2014	(401,150)	(412,618)	(412,618)	
Bond Payments - Series 2016	(407,775)	(418,512)	(418,512)	
Bond Payments - Series 2017	0	(13,411)	(13,411)	
Bond Payments - Series 2018	0	0	0	
				
BALANCE	$	34,078	$	38,084	$	44,306	
				
County Appraiser & Tax Collector Fee	(19,026)	(9,272)	(9,272)	
Discounts For Early Payments	(38,052)	(36,245)	(36,245)	
				
EXCESS/ (SHORTFALL)	$	(23,000)	$	(7,433)	$	(1,211)	
				
Carryover From Prior Year	23,000	23,000	0	
				
NET EXCESS/ (SHORTFALL)	$	-	$	(30,433)	$	(1,211)	

FUND BALANCE AS OF 9/30/17	
FY 2017/2018 ACTIVITY	
FUND BALANCE AS OF 9/30/18	

 	
$222,058	
($7,433)	
$214,625	

Notes
Carryover From Prior Year Of $23,000 was used to reduce Fiscal Year 2017/2018 Assessments. Carryover From Prior Year Of $27,700 to be used to reduce Fiscal Year 2018/2019 Assessments.

10/24/2018 5:56 PM	I

CENTURY GARDENS AT TAMIAMI COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND (SERIES 2014 - EXPANSION AREA)
FISCAL YEAR 2017/2018 OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	FISCAL YEAR 2017/2018 BUDGET
10/1/17 - 9/30/18	AMENDED FINAL BUDGET
10/1/17 - 9/30/18	YEAR TO DATE ACTUAL
10/1/17 - 9/29/18	
Interest Income	25	4,388	4,388	
NAV Tax Collection	401,125	412,618	412,618	
Total Revenues	$	401,150	$	417,006	$	417,006	
				
EXPENDITURES				
Principal Payments	115,000	110,000	110,000	
Interest Payments	286,150	288,350	288,350	

Total Expenditures	
$	401,150	
$	398,350	
$	398,350	
				
Net Excess/ (Shortfall)	$	-	$	18,656	$	18,656	

FUND BALANCE AS OF 9/30/17	
FY 2017/2018 ACTIVITY	
FUND BALANCE AS OF 9/30/18	

 	
$384,873	
$18,656	
$403,529	

Notes
Reserve Fund Balance = $101,419*. Revenue Fund Balance = $302,101*.
Revenue Fund Account Balance To Be Used To Make 11/1/18 Principal Payment Of $115,000 And Interest Payment Of $143,075.
* Approximate Amounts

Series 2014 Bond Information		
Original Par Amount =	$6,175,000	Annual Principal Payments Due:	
Interest Rate = Issue Date = Maturity Date =	4.00% - 5.00%
September 2014
November 2044	November 1st
Annual Interest Payments Due: May 1st & November 1st	
Par Amount As Of 9/30/18 =	$5,905,000		

CENTURY GARDENS AT TAMIAMI COMMUNITY DEVELOPMENT DISTRICT
DEBT SERVICE FUND (SERIES 2016 - ORIGINAL UNITS) FISCAL YEAR 2017/2018
OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	FISCAL YEAR 2017/2018 BUDGET
10/1/17 - 9/30/18	AMENDED FINAL BUDGET
10/1/17 - 9/30/18	YEAR TO DATE ACTUAL
10/1/17 - 9/29/18	
Interest Income (2016)	25	780	780	
NAV Tax Collection	407,775	418,512	418,512	
Total Revenues	$	407,800	$	419,292	$	419,292	
				
EXPENDITURES				
Principal Payments (2016)	210,000	210,000	210,000	
Interest Payments (2016)	197,800	199,900	199,900	
Total Expenditures	$	407,800	$	409,900	$	409,900	
				
Net Excess/ (Shortfall)	$	-	$	9,392	$	9,392	

FUND BALANCE AS OF 9/30/17	
FY 2017/2018 ACTIVITY	
FUND BALANCE AS OF 9/30/18	

 	
$322,365	
$9,392	
$331,757	

Notes
Reserve Fund Balance = $207,151*. Revenue Fund Balance = $124,605*.
Revenue Fund Account Balance To Be Used To Make 11/1/18 Interest Payment Of $97,850.
* Approximate Amounts

Series 2016 Bond Refunding Information		
Original Par Amount =	$5,860,000	Annual Principal Payments Due:	
Interest Rate = Issue Date = Maturity Date =	2.00% - 4.25%
August 2016
May 2037	May 1st
Annual Interest Payments Due: May 1st & November 1st	
Par Amount As Of 9/30/18 =	$5,480,000		

CENTURY GARDENS AT TAMIAMI COMMUNITY DEVELOPMENT DISTRICT
DEBT SERVICE FUND (SERIES 2017 - TOWNHOMES) FISCAL YEAR 2017/2018
OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	FISCAL YEAR	AMENDED	YEAR	
	2017/2018	FINAL	TO DATE	
	BUDGET	BUDGET	ACTUAL	
	10/1/17 - 9/30/18	10/1/17 - 9/30/18	10/1/17 - 9/29/18	
Interest Income (2017)	0	92	92	
Debt Service Bond Proceeds (2017)	0	9,976	9,976	
Payment By Developer	0	13,411	13,411	
NAV Tax Collection	0	0	0	
Total Revenues	$		-	$	23,479	$	23,479	
				
EXPENDITURES				
Principal Payments (2017)	0	0	0	
Interest Payments (2017)	0	13,411	13,411	
Total Expenditures	$		-	$	13,411	$	13,411	
				
Net Excess/ (Shortfall)	$		-	$	10,068	$	10,068	

FUND BALANCE AS OF 9/30/17	
FY 2017/2018 ACTIVITY	
FUND BALANCE AS OF 9/30/18	

 	
$0	
$10,068	
$10,068	

Notes
Reserve Fund Balance = $10,043*. Revenue Fund Balance = $25*. 12/15/2018 Principal ($12,000) & Interest ($13,874) Payment
To Be Funded By Developer Contribution.
Capital Projects Debt Proceeds = $640,024. Total Debt Proceeds = $650,000. FY 2017/2018 Capital Outlays = $510,412.
FY 2017/2018 Cost Of Issuance Expenditures = $104,031.
* Approximate Amounts

Series 2017 Bond Information 
Original Par Amount =	
$650,000	
Annual Principal Payments Due:	
Interest Rate = Issue Date = Maturity Date =	2.00% - 4.25%
December 2017
December 2047	December 15th
Annual Interest Payments Due: June 15th & December 15th	
Par Amount As Of 9/30/18 =	$650,000		

CENTURY GARDENS AT TAMIAMI COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND (SERIES 2018 - CLUBHOUSE)
FISCAL YEAR 2017/2018 OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	FISCAL YEAR	AMENDED	YEAR	
	2017/2018	FINAL	TO DATE	
	BUDGET	BUDGET	ACTUAL	
	10/1/17 - 9/30/18	10/1/17 - 9/30/18	10/1/17 - 9/29/18	
Interest Income (2018)	0	0	0	
Debt Service Bond Proceeds (2018)	0	173,165	173,165	
NAV Tax Collection	0	0	0	
Total Revenues	$		-	$	173,165	$	173,165	
				
EXPENDITURES				
Principal Payments (2018)	0	0	0	
Interest Payments (2018)	0	0	0	
Total Expenditures	$		-	$	-	$	-	
				
Net Excess/ (Shortfall)	$		-	$	173,165	$	173,165	

FUND BALANCE AS OF 9/30/17	
FY 2017/2018 ACTIVITY	
FUND BALANCE AS OF 9/30/18	

 	
$0	
$173,165	
$173,165	

Notes
Reserve Fund Balance = $10,043*. Revenue Fund Balance = $25*. 11/1/2018 Interest Payment Of $29,493
To Be Funded By Capitalized Interest.
Capital Projects Debt Proceeds = $4,676,835. Total Debt Proceeds = $4,850,000. FY 2017/2018 Capital Outlays (Including Clubhouse) = $4,263,717.
FY 2017/2018 Cost Of Issuance Expenditures = $297,250.
* Approximate Amounts

Series 2018 Bond Information		
Original Par Amount =	$4,850,000	Annual Principal Payments Due:	
Interest Rate = Issue Date = Maturity Date =	3.00% - 4.25%
September 2018
November 2048	November 1st
Annual Interest Payments Due: May 1st & November 1st	
Par Amount As Of 9/30/18 =	$4,850,000