Century Gardens At Tamiami Community Development District

Amended Final Budget For Fiscal Year 2018/2019
October 1, 2018 - September 30, 2019

CONTENTS

I	AMENDED FINAL OPERATING FUND BUDGET II	AMENDED FINAL CLUBHOUSE BUDGET
III	AMENDED FINAL DEBT SERVICE FUND BUDGET (SERIES 2014) IV	AMENDED FINAL DEBT SERVICE FUND BUDGET (SERIES 2016) V	AMENDED FINAL DEBT SERVICE FUND BUDGET (SERIES 2017) VI	AMENDED FINAL DEBT SERVICE FUND BUDGET (SERIES 2018)

CENTURY GARDENS AT TAMIAMI COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2018/2019 OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	FISCAL YEAR 2018/2019 BUDGET
10/1/18 - 9/30/19	AMENDED FINAL BUDGET
10/1/18 - 9/30/19	YEAR TO DATE ACTUAL
10/1/18 - 9/29/19	
Administrative Assessments	53,934	57,787	57,787	
Maintenance Assessments	41,053	41,053	41,053	
Clubhouse O&M Assessments	343,994	343,994	343,994	
Debt Assessments - Series 2014 (Expansion Units)	431,583	431,583	431,583	
Debt Assessments - Series 2016 (Original Units)	439,191	439,191	439,191	
Debt Assessments - Series 2017 (Townhomes)	42,452	42,453	42,453	
Debt Direct Bill - Series 2017 (Townhomes)	0	25,874	25,874	
Debt Assessments - Series 2018 (Clubhouse)	305,685	305,685	305,685	
Other Revenues	0	2,067	2,067	
Other Revenues - Clubhouse	0	107,669	107,669	
Interest Income	420	825	807	
TOTAL REVENUES	$	1,658,312	$	1,798,181	$	1,798,163	
				
EXPENDITURES				
ADMINISTRATIVE EXPENDITURES				
Supervisor Fees	1,500	0	0	
Payroll Taxes (Employer)	115	0	0	
Management	30,228	30,225	30,228	
Legal	9,000	21,225	21,225	
Assessment Roll	7,500	7,500	7,500	
Audit Fees	4,000	5,000	5,000	
Arbitrage Rebate Fees	1,300	1,300	650	
Insurance	6,325	5,750	5,750	
Legal Advertisements	800	1,000	820	
Miscellaneous	900	1,000	824	
Postage	325	750	736	
Office Supplies	600	1,375	1,335	
Dues & Subscriptions	175	175	175	
Trustee Fees	11,850	15,959	15,959	
Continuing Disclosure Fees	1,500	1,400	1,400	
Website Management	1,500	1,500	1,500	
Administrative Contingency	1,200	0	0	
TOTAL ADMINISTRATIVE EXPENDITURES	$	78,818	$	94,159	$	93,102	
				
MAINTENANCE EXPENDITURES				
Engineering - Annual Report/Inspections	1,750	1,750	620	
Park Maintenance - Lawn & Landscape Service (Includes Mulch)	15,000	15,000	12,341	
Street/Roadway & Stormwater System Maintenance	6,000	0	0	
Irrigation System Pump Station Maintenance	2,400	0	0	
FPL Power	1,800	0	0	
Entrance Feature(s) Signage Maintenance	3,600	0	0	
Field Operation Management	840	840	840	
Miscellaneous Maintenance	6,000	3,000	0	
Maintenance Contingency	1,200	1,200	0	
TOTAL MAINTENANCE EXPENDITURES	$	38,590	$	21,790	$	13,801	
				
TOTAL CLUBHOUSE EXPENDITURES	$	323,354	$	308,538	$	278,804	
				
TOTAL EXPENDITURES	$	440,762	$	424,487	$	385,707	
				
REVENUES LESS EXPENDITURES	$	1,217,550	$	1,373,694	$	1,412,456	
				
Bond Payments - Series 2014 (Expansion Units)	(405,688)	(411,311)	(411,311)	
Bond Payments - Series 2016 (Original Units)	(412,839)	(418,758)	(418,758)	
Bond Payments - Series 2017 (Townhomes)	(39,905)	(66,306)	(66,306)	
Bond Payments - Series 2018 (Clubhouse)	(287,344)	(291,286)	(291,286)	
				
BALANCE	$	71,774	$	186,033	$	224,795	
				
County Appraiser & Tax Collector Fee	(33,158)	(15,988)	(15,988)	
Discounts For Early Payments	(66,316)	(61,895)	(61,895)	
				
EXCESS/ (SHORTFALL)	$	(27,700)	$	108,150	$	146,912	
				
Carryover From Prior Year	27,700	27,700	0	
				
NET EXCESS/ (SHORTFALL)	$	-	$	135,850	$	146,912	

FUND BALANCE AS OF 9/30/18	
FY 2018/2019 ACTIVITY	
FUND BALANCE AS OF 9/30/19	
LESS PROJECTED CLUBHOUSE RESERVE AS OF 9/30/19	
OPERATING FUND BALANCE AS OF 9/30/19	

$210,611	
$108,150	
$318,761	
$115,821	
$202,940	

Notes
Carryover From Prior Year Of $27,700 was used to reduce Fiscal Year 2018/2019 Assessments. Carryover From Prior Year Of $41,385 to be used to reduce Fiscal Year 2019/2020 Assessments.

CENTURY GARDENS AT TAMIAMI COMMUNITY DEVELOPMENT DISTRICT CLUBHOUSE
FISCAL YEAR 2018/2019 OCTOBER 1, 2018 - SEPTEMBER 30, 2019

CLUBHOUSE REVENUES	FISCAL YEAR 2018/2019 BUDGET 10/1/18 - 9/30/19	AMENDED FINAL BUDGET
10/1/18 - 9/30/19	YEAR TO DATE ACTUAL
10/1/18 - 9/29/19	
Clubhouse - O&M Assessments	343,994	343,994	343,994	
Clubhouse - Rentals	0	2,450	2,450	
Cluhouse - Key Fobs	0	815	815	
Other Revenue - Release Of Bond Funds Clubhouse O&M	0	103,994	103,994	
Other Revenue - Clubhouse	0	410	410	
				
Total Cluhouse Revenues	$	343,994	$	451,663	$	451,663	
				
CLUBHOUSE OPERATIONS & MAINTENANCE EXPENDITURES				
Access Control	1,200	100	100	
Alarm Monitoring	1,500	1,469	1,469	
Air Conditioning Maintenance Contract	1,200	1,020	1,020	
Bank Charges	2,400	0	0	
Circuit Training Gym Equipment Maintenance	1,500	800	617	
Cable & Internet Service	2,400	3,800	3,369	
Coupon Booklets	2,676	0	0	
Electricity	21,600	10,116	10,116	
Insurance - Property & Liability	18,000	11,458	11,458	
Insurance - Windstorm	3,600	0	0	
Insurance - Umbrella	3,900	0	0	
Irrigation Repairs & Maintenance	1,200	6,000	4,078	
Janitorial Supplies	26,400	30,000	28,562	
Landscape Maintenance	14,400	20,500	19,482	
Landscape Maintenance (Includes Mulching)	6,300	2,500	1,710	
Legal And Professional Fees	1,500	0	0	
Management Fees	21,360	18,400	16,396	
Miscellaneous Expense	1,200	2,200	1,787	
Office Supplies	2,400	325	287	
Payroll - Club Staff	131,818	116,000	111,779	
Pest Control - Interior & Exterior	1,200	800	675	
Pool & Spa Maintenance	10,500	18,000	16,956	
Pool & Spa Repairs	2,400	3,000	2,472	
Printing & Postage	2,400	50	45	
Property Taxes	6,000	0	0	
Repairs & Maintenance	2,400	8,500	7,424	
Resident Social Expense	6,000	0	0	
Telephone	1,200	0	0	
Trash Collection	2,700	0	0	
Water & Sewer	4,200	3,000	2,642	
Contingency (Painting Of Clubhouse-$9,150-Paver Cart Area-$1,700-Umbrellas-$5,434)	17,800	27,800	16,284	
Computer Equipment/Services	0	3,200	2,656	
Security	0	13,500	11,420	
Oversight & Financial Management	0	6,000	6,000	
				
TOTAL CLUBHOUSE OPERATIONS & MAINTENANCE EXPENDITURES	$	323,354	$	308,538	$	278,804	
				
Clubhouse Revenues Less Expenditures	$	20,640	$	143,125	$	172,859	
				
County Appraiser & Tax Collector Fee	(6,811)	(3,326)	(3,326)	
Discounts For Early Payments	(13,829)	(12,874)	(12,874)	
				
Excess/ (Shortfall)	$	-	$	126,925	$	156,659	
				
Carryover From Prior Year	0	0	0	
				
Net Excess/ (Shortfall)	$	-	$	126,925	$	156,659	

Note: Discounts and Fees Actual Amounts Estimated As 20.8% Of Total District Discounts & Fees.

FUND BALANCE AS OF 9/30/18	
FY 2018/2019 ACTIVITY	
FUND BALANCE AS OF 9/30/19	

($11,104)	
$126,925	
$115,821	

REVENUES	FISCAL YEAR 2018/2019 BUDGET
10/1/18 - 9/30/19	AMENDED FINAL BUDGET
10/1/18 - 9/30/19	YEAR TO DATE ACTUAL
10/1/18 - 9/29/19	
Interest Income	100	8,190	8,170	
NAV Tax Collection	405,688	411,311	411,311	
Total Revenues	$	405,788	$	419,501	$	419,481	
				
EXPENDITURES				
Principal Payments	120,000	115,000	115,000	
Interest Payments	281,550	283,450	283,450	
Bond Redemption	4,238	20,000	20,000	

Total Expenditures	
$	405,788	
$	418,450	
$	418,450	
				
Net Excess/ (Shortfall)	$	-	$	1,051	$	1,031	

FUND BALANCE AS OF 9/30/18	
FY 2018/2019 ACTIVITY	
FUND BALANCE AS OF 9/30/19	

$425,468	
$1,051	
$426,519	

Notes
Reserve Fund Balance = $101,709*. Revenue Fund Balance = $324,810*.
Revenue Fund Account Balance To Be Used To Make 11/1/19 Bond Payment Of $260,375 - Principal Payment: $120,000 - Interest Payment: $140,375.
* Approximate Amounts

Series 2014 Bond Information		
Original Par Amount =	$6,175,000	Annual Principal Payments Due:	
Interest Rate =	4.00% - 5.00%	November 1st	
Issue Date =	September 2014	Annual Interest Payments Due:	
Maturity Date =	November 2044	May 1st & November 1st	
Par Amount As Of 9/30/19 =	$5,770,000		

REVENUES	FISCAL YEAR 2018/2019 BUDGET
10/1/18 - 9/30/19	AMENDED FINAL BUDGET
10/1/18 - 9/30/19	YEAR TO DATE ACTUAL
10/1/18 - 9/29/19	
Interest Income (2016)	100	1,160	1,146	
NAV Tax Collection	412,839	418,758	418,758	
Total Revenues	$	412,939	$	419,918	$	419,904	
				
EXPENDITURES				
Principal Payments (2016)	215,000	215,000	215,000	
Interest Payments (2016)	193,550	195,700	195,700	
Bond Redemption	4,389	0	0	
Total Expenditures	$	408,550	$	410,700	$	410,700	
				
Net Excess/ (Shortfall)	$	4,389	$	9,218	$	9,204	

FUND BALANCE AS OF 9/30/18	
FY 2018/2019 ACTIVITY	
FUND BALANCE AS OF 9/30/19	

$331,841	
$9,218	
$341,059	

Notes
Reserve Fund Balance = $207,765*. Revenue Fund Balance = $133,294*.
Revenue Fund Account Balance To Be Used To Make 11/1/19 Interest Payment Of $95,700
* Approximate Amounts

Series 2016 Bond Refunding Information		
Original Par Amount =	$5,860,000	Annual Principal Payments Due:	
Interest Rate =	2.00% - 4.25%	May 1st	
Issue Date =	August 2016	Annual Interest Payments Due:	
Maturity Date =	May 2037	May 1st & November 1st	
Par Amount As Of 9/30/19 =	$5,265,000		

REVENUES	FISCAL YEAR 2018/2019 BUDGET
10/1/18 - 9/30/19	AMENDED FINAL BUDGET
10/1/18 - 9/30/19	YEAR TO DATE ACTUAL
10/1/18 - 9/29/19	
Interest Income (2017)	25	715	708	
Payment By Developer	0	25,876	25,876	
NAV Tax Collection	39,905	40,431	40,431	
Total Revenues	$	39,930	$	67,022	$	67,015	
				
EXPENDITURES				
Principal Payments (2017)	12,000	12,000	12,000	
Interest Payments (2017)	27,343	27,545	27,545	
Bond Redemption	587	0	0	
Total Expenditures	$	39,930	$	39,545	$	39,545	
				
Net Excess/ (Shortfall)	$	-	$	27,477	$	27,470	

FUND BALANCE AS OF 9/30/18	
FY 2018/2019 ACTIVITY	
FUND BALANCE AS OF 9/30/19	

$11,076	
$27,477	
$38,553	

Notes
Reserve Fund Balance = $10,071*. Revenue Fund Balance = $28,482*.
Revenue Fund Account Balance To Be Used To Make 12/15/19 Bond Payment Of $25,671 - Principal Payment: $12,000 - Interest Payment: $13,671.
* Approximate Amounts

Series 2017 Bond Information		
Original Par Amount =	$650,000	Annual Principal Payments Due:	
Interest Rate =	2.00% - 4.25%	December 15th	
Issue Date =	December 2017	Annual Interest Payments Due:	
Maturity Date =	December 2047	June 15th & December 15th	
Par Amount As Of 9/30/19 =	$638,000		

REVENUES	FISCAL YEAR 2018/2019 BUDGET
10/1/18 - 9/30/19	AMENDED FINAL BUDGET
10/1/18 - 9/30/19	YEAR TO DATE ACTUAL
10/1/18 - 9/29/19	
Interest Income (2018)	25	6,030	6,009	
NAV Tax Collection	287,344	291,286	291,286	
Total Revenues	$	287,369	$	297,316	$	297,295	
				
EXPENDITURES				
Principal Payments (2018)	90,000	0	0	
Interest Payments (2018)	193,044	126,015	126,015	
Bond Redemption	4,325	0	0	
Total Expenditures	$	287,369	$	126,015	$	126,015	
				
Net Excess/ (Shortfall)	$	-	$	171,301	$	171,280	

FUND BALANCE AS OF 9/30/18	
FY 2018/2019 ACTIVITY	
FUND BALANCE AS OF 9/30/19	

$173,165	
$171,301	
$344,466	

Notes
Reserve Fund Balance = $145,040*. Revenue Fund Balance = $199,426*.
Revenue Fund Account Balance To Be Used To Make 11/1/19 Bond Payment Of $186,522 - Principal Payment: $90,000 - Interest Payment: $96,522.
* Approximate Amounts

Series 2018 Bond Information		
Original Par Amount =	$4,850,000	Annual Principal Payments Due:	
Interest Rate =	3.00% - 4.25%	November 1st	
Issue Date =	September 2018	Annual Interest Payments Due:	
Maturity Date =	November 2048	May 1st & November 1st	
Par Amount As Of 9/30/19 =	$4,850,000