Century Gardens At Tamiami Community Development District

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

CONTENTS

TABLE OF CONTENTS

Budget Summary

Final Budget	I
Detailed Final Budget	II
Clubhouse Operating Budget	III
Debt Service
Final Series 2014 Debt Service Fund Budget (Expansion Units)	IV
Final Series 2016 Debt Service Fund Budget (Original Units)	V
Final Series 2017 Debt Service Fund Budget (Tract B Townhomes)	VI
Final Series 2018 Debt Service Fund Budget (Clubhouse)	VII
Assessment Comparison
Assessment Comparison	VIII

FINAL BUDGET
CENTURY GARDENS AT TAMIAMI COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2021/2022
BUDGET	
Administrative Assessments	50,284	
Maintenance Assessments	44,574	
Clubhouse Assessments	343,994	
Debt Assessments (Series 2014 - Expansion Area)	431,583	
Debt Assessments (Series 2016 - Original Units)	437,905	
Debt Assessments (Series 2017 - Townhomes)	42,452	
Debt Assessments (Series 2018 - Clubhouse)	305,685	
Other Revenue	0	
Other Revenue - Clubhouse	0	
Interest Income	480	
		
TOTAL REVENUES	$	1,656,957	
		
EXPENDITURES		
MAINTENANCE EXPENDITURES		
Engineering - Annual Report/Inspections	3,500	
Park Landscaping Maintenance (Includes Mulch)	15,000	
Park Maintenance	8,000	
Street/Roadway & Stormwater System Maintenance	6,000	
Irrigation System Pump Station Maintenance	2,400	
FPL Power	1,800	
Field Operation Management	1,200	
General Maintenance/Contingency	4,000	
TOTAL MAINTENANCE EXPENDITURES	$	41,900	
		
TOTAL CLUBHOUSE EXPENDITURES	$	323,354	
		
ADMINISTRATIVE ASSESSMENTS		
Supervisor Fees	1,500	
Payroll Taxes - Employer	115	
Management	32,172	
Legal	13,000	
Assessment Roll	7,500	
Audit Fees	6,000	
Arbitrage Rebate Fees	1,300	
Insurance	7,000	
Legal Advertisements	850	
Miscellaneous	900	
Postage	400	
Office Supplies	675	
Dues & Subscriptions	175	
Trustee Fees	16,000	
Continuing Disclosure Fees	1,400	
Website Management	2,000	
Administrative Contingency	1,200	
TOTAL ADMINISTRATIVE EXPENDITURES	$	92,187	
		
TOTAL EXPENDITURES	$	457,441	
		
EXCESS/ (SHORTFALL)	$	1,199,516	
		
Bond Payments (Series 2014 - Expansion Units)	(405,688)	
Bond Payments (Series 2016 - Original Units)	(411,631)	
Bond Payments (Series 2017 - Townhomes)	(39,905)	
Bond Payments (Series 2018 - Clubhouse)	(287,344)	
		
BALANCE	$	54,948	
		
County Appraiser & Tax Collector Fee	(33,129)	
Discounts For Early Payments	(66,259)	
		
NET EXCESS/ (SHORTFALL)	$	(44,440)	
		
Carryover From Prior Year	44,440	
		
NET EXCESS/ (SHORTFALL)	$	-	

DETAILED FINAL BUDGET
CENTURY GARDENS AT TAMIAMI 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	
Administrative Assessments	53,261	47,684	50,284	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	46,330	47,234	44,574	Expenditures/.94	
Clubhouse Assessments	343,994	343,994	343,994	Expenditures/.94	
Debt Assessments (Series 2014 - Expansion Area)	431,584	431,583	431,583	Payment To Trustee/.94	
Debt Assessments (Series 2016 - Original Units)	437,192	437,905	437,905	Payment To Trustee/.94	
Debt Assessments (Series 2017 - Townhomes)	42,453	42,452	42,452	Payment To Trustee/.94	
Debt Assessments (Series 2018 - Clubhouse)	305,685	305,685	305,685	Payment To Trustee/.94	
Other Revenue	0	0	0	Other Revenue	
Other Revenue - Clubhouse	1,480	0	0		
Interest Income	1,291	480	480	Interest Estimated At $40 Per Month	
					
TOTAL REVENUES	$	1,663,270	$	1,657,017	$	1,656,957		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
Engineering - Annual Report/Inspections	1,145	3,500	3,500	No Change From 2020/2021 Budget	
Park Landscaping Maintenance (Includes Mulch)	11,971	15,000	15,000	No Change From 2019/2020 Budget	
Park Maintenance	0	8,000	8,000	FY 2020/2021 Expenditure Through March 2021 Was $4,402	
Street/Roadway & Stormwater System Maintenance	6,000	6,000	6,000	No Change From 2020/2021 Budget	
Irrigation System Pump Station Maintenance	0	2,400	2,400	No Change From 2019/2020 Budget	
FPL Power	0	1,800	1,800	No Change From 2019/2020 Budget	
Field Operation Management	1,200	1,200	1,200	No Change From 2019/2020 Budget	
General Maintenance/Contingency	0	6,500	4,000	$2,500 Decrease From 2020/2021 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	20,316	$	44,400	$	41,900		
					
TOTAL CLUBHOUSE EXPENDITURES	$	255,070	$	323,354	$	323,354		
					
ADMINISTRATIVE ASSESSMENTS					
Supervisor Fees	0	1,500	1,500	No Change From 2020/2021 Budget	
Payroll Taxes - Employer	0	115	115	Supervisor Fees * 7.65%	
Management	31,020	31,728	32,172	CPI Adjustments	
Legal	15,328	12,000	13,000	FY 2020/2021 Expenditure Through Feb 2021 Was $5,225	
Assessment Roll	7,500	7,500	7,500	As Per Contract	
Audit Fees	5,100	6,000	6,000	No Change From 2020/2021 Budget	
Arbitrage Rebate Fees	1,300	1,300	1,300	Fees For Two Bonds (2014,2016)
2017 & 2018 Bonds Qualify For Small User Exception	
Insurance	6,038	6,500	7,000	Insurance Estimate	
Legal Advertisements	620	850	850	No Change From 2020/2021 Budget	
Miscellaneous	862	900	900	No Change From 2020/2021 Budget	
Postage	279	400	400	No Change From 2020/2021 Budget	
Office Supplies	395	675	675	No Change From 2020/2021 Budget	
Dues & Subscriptions	175	175	175	No Change From 2019/2020 Budget	
Trustee Fees	15,959	16,000	16,000	Trustee Fees For Four Bonds (2014,2016,2017,2018)	
Continuing Disclosure Fees	1,400	1,400	1,400	Disclosure Fees For Four Bonds (2014,2016,2017,2018)	
Website Management	2,000	2,000	2,000	No Change From 2020/2021 Budget	
Administrative Contingency	0	1,200	1,200	Administrative Contingency	
TOTAL ADMINISTRATIVE EXPENDITURES	$	87,976	$	90,243	$	92,187		
					
TOTAL EXPENDITURES	$	363,362	$	457,997	$	457,441		
					
EXCESS/ (SHORTFALL)	$	1,299,908	$	1,199,020	$	1,199,516		
					
Bond Payments (Series 2014 - Expansion Units)	(411,690)	(405,688)	(405,688)	2022 P & I Payments Less Earned Interest	
Bond Payments (Series 2016 - Original Units)	(416,618)	(411,631)	(411,631)	2022 P & I Payments Less Earned Interest	
Bond Payments (Series 2017 - Townhomes)	(40,432)	(39,905)	(39,905)	2022 P & I Payments Less Earned Interest	
Bond Payments (Series 2018 - Clubhouse)	(291,573)	(287,344)	(287,344)	2022 P & I Payments Less Earned Interest	
					
BALANCE	$	139,595	$	54,452	$	54,948		
					
County Appraiser & Tax Collector Fee	(15,985)	(33,131)	(33,129)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(61,014)	(66,261)	(66,259)	Four Percent Of Total Assessment Roll	
					
NET EXCESS/ (SHORTFALL)	$	62,596	$	(44,940)	$	(44,440)		
					
Carryover From Prior Year	0	44,940	44,440	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	62,596	$	-	$	-		

DETAILED FINAL EXPANSION AREA 2018 PROJECT BUDGET (CLUBHOUSE)
CENTURY GARDENS AT TAMIAMI COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

CLUBHOUSE OPERATIONS & MAINTENANCE EXPENDITURES	
FISCAL YEAR 2019/2020 ACTUAL	
FISCAL YEAR 2020/2021
ACTUAL THROUGH

JULY 2021	
FISCAL YEAR 2020/2021 BUDGET	
FISCAL YEAR 2021/2022 BUDGET	

COMMENTS	
Access Control	91	0	750	750	Access Control	
Alarm Monitoring	684	583	1,000	1,000	
Monitoring Of Clubhouse Fire & Security Alarm Systems	
A/C Maintenance/Repairs	0	0	0	3,000	A/C Maintenance/Repairs	
Gym Equipment Maintenance	737	620	6,000	6,000	Gym Equipment Maintenance	
Telephone, Cable & Internet Service	2,789	2,139	3,200	3,800	$600 Increase From 2020/2021 Budget	
FPL Power	8,949	7,190	16,000	15,000	
Electricity For Club Lighting, Pool, Cabana & Irrigation Pump	
General Maintenance & Repairs	10,916	9,903	22,000	28,313	General Maintenance & Repairs	
Insurance - Property/Casualty/Liability	12,365	13,602	19,000	19,000	Insurance - Property/Casualty/Liability	
Irrigation Repairs & Maintenance	600	660	2,000	2,000	No Change From 2020/2021 Budget	
Janitorial Services & Supplies	14,848	13,767	30,000	28,000	Janitorial Services & Supplies	
Landscape Maintenance (Mulch & Plant Replacement)	21,084	18,072	23,200	25,000	
Landscape Maintenance (Mulch & Plant Replacement)	
Management Fees (Castle)	11,724	11,039	15,000	14,000	$1,000 Decrease From 2020/2021 Budget	
Office & Kitchen Supplies	1,793	1,292	1,800	1,800	No Change From 2020/2021 Budget	
Payroll - Club Staff	109,442	84,908	117,409	99,687	Payroll - Club Staff - $8,307 Per Month	
Payroll - Club Staff Health Insurance	0	5,220	8,600	9,400	Payroll - Club Staff - Health Insurance	
Pest Control - Interior & Exterior	900	600	1,200	1,200	Pest Control - Interior & Exterior	
Pool & Spa Maintenance	34,755	15,287	27,000	30,000	$3,000 Increase From 2020/2021 Budget	
Printing & Postage	0	0	500	500	Printing & Postage	
Property Taxes	0	0	5,000	5,000	Property Taxes	
Resident Social Expense	1,075	0	5,000	0	Expenses Related To Social Events	
Water & Sewer	1,270	1,324	4,200	4,200	Water & Sewer	
Computer Services	1,545	238	2,000	2,000	No Change From 2020/2021 Budget	
Security	11,765	6,137	15,000	19,000	Security	
Oversight & Financial Management	6,000	5,000	6,000	6,000	Oversight & Financial Management	
Contingency	1,738	1,171	53,000	35,000	Contingency	
Water Damage Repair (Insurance Claim)	0	36,557	0	0		

TOTAL CLUBHOUSE OPERATIONS & MAINTENANCE EXPENDITURES	$	255,070	$	235,309	$	384,859	$	359,650		
						
Carryover From Prior Year	
0	
0	61,505	36,296	Carryover From Prior Year	

TOTAL CLUB OPERATIONS & MAINTENANCE EXPENDITURES						
Operating Expenditures	255,070	235,309	323,354	323,354	
$726.64 Per Year * 445 Units = $323,354	
					
Assessment Including Discounts & Fees ($726.64/.94 =	
					
$773.02 Per Year * 445 Units = $343,994)	

DETAILED FINAL DEBT SERVICE FUND (SERIES 2014) BUDGET
CENTURY GARDENS AT TAMIAMI 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	
3,092	
100	
25	
Projected Interest For 2021/2022	

NAV Tax Collection	
411,690	
405,688	
405,688	
Maximum Debt Service Collection	

Total Revenues	
$	414,782	
$	405,788	
$	405,713		

EXPENDITURES					

Principal Payments	
120,000	
125,000	
130,000	
Principal Payment Due In 2022	

Interest Payments	
278,350	
270,950	
265,950	
Interest Payments Due In 2022	

Bond Redemption	
0	
$	9,838	
$	9,763	
Estimated Excess Debt Collections	

Total Expenditures	
$	398,350	
$	405,788	
$	405,713		

Excess/ (Shortfall)	
$	16,432	
$	-	
$	-		

Series 2014 Bond Information
Original Par Amount =	$6,175,000	Annual Principal Payments Due =	November 1st	
Interest Rate =	4.00% - 5.00%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	September 2014			
Maturity Date =	November 2044			
Section Of District Obligated To Pay Series 2014 Bonds: Par Amount As Of 1-1-21 =  $5,525,000	Expansion Units

DETAILED FINAL DEBT SERVICE FUND (SERIES 2016) BUDGET
CENTURY GARDENS AT TAMIAMI 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	
311	
100	
25	
Projected Interest For 2021/2022	

NAV Tax Collection	
416,618	
411,631	
411,631	
Maximum Debt Service Collection	

Total Revenues	
$	416,929	
$	411,731	
$	411,656		

EXPENDITURES					

Principal Payments	
220,000	
225,000	
230,000	
Principal Payment Due In 2022	

Interest Payments	
191,088	
183,844	
178,725	
Interest Payments Due In 2022	

Bond Redemption	
15,000	
2,887	
2,931	
Estimated Excess Debt Collections	

Total Expenditures	
$	426,088	
$	411,731	
$	411,656		

Excess/ (Shortfall)	
$	(9,159)	
$	-	
$	-		

Series 2016 Bond Refunding Information
Original Par Amount =	$5,860,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	2.00% - 4.25%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	August 2016			
Maturity Date =	May 2037			
Section Of District Obligated To Pay Series 2016 Bonds: Par Amount As Of 1-1-21 =  $5,030,000	Original Units

DETAILED FINAL DEBT SERVICE FUND (SERIES 2017) BUDGET
CENTURY GARDENS AT TAMIAMI 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	
323	
25	
25	
Projected Interest For 2021/2022	

NAV Tax Collection	
40,432	
39,905	
39,905	
Maximum Debt Service Collection	

Total Revenues	
$	40,755	
$	39,930	
$	39,930		

EXPENDITURES					

Principal Payments	
12,000	
13,000	
13,000	
Principal Payment Due In 2022	

Interest Payments	
27,140	
26,533	
26,094	
Interest Payments Due In 2022	

Bond Redemption	
0	
397	
836	
Estimated Excess Debt Collections	

Total Expenditures	
$	39,140	
$	39,930	
$	39,930		

Excess/ (Shortfall)	
$	1,615	
$	-	
$	-		

Series 2017 Bond Information
Original Par Amount =	$650,000	Annual Principal Payments Due =	December 15th	
Interest Rate =	2.00% - 4.25%	Annual Interest Payments Due =	June 15th & December 15th	
Issue Date =	December 2017			
Maturity Date =	December 2047			
Section Of District Obligated To Pay Series 2017 Bonds: Par Amount As Of 1-1-21 =  $614,000	Tract B Townhomes

DETAILED FINAL DEBT SERVICE FUND (SERIES 2018) BUDGET
CENTURY GARDENS AT TAMIAMI 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	
2,554	
25	
25	
Projected Interest For 2021/2022	

NAV Tax Collection	
291,573	
287,344	
287,344	
Maximum Debt Service Collection	

Total Revenues	
$	294,127	
$	287,369	
$	287,369		

EXPENDITURES					

Principal Payments	
90,000	
95,000	
100,000	
Principal Payment Due In 2022	

Interest Payments	
191,694	
187,494	
184,644	
Interest Payments Due In 2022	

Bond Redemption	
0	
4,875	
2,725	
Estimated Excess Debt Collections	

Total Expenditures	
$	281,694	
$	287,369	
$	287,369		

Excess/ (Shortfall)	
$	12,433	
$	-	
$	-		

Series 2018 Bond Information
Original Par Amount =	$4,850,000	Annual Principal Payments Due =	November 1st	
Interest Rate =	3.00% - 4.25%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	September 2018			
Maturity Date =	November 2048			
Sections Of District Obligated To Pay Series 2018 Bonds: Par Amount As Of 1-1-21 =  $4,665,000	Expansion Units & Tract B Townhomes

Century Gardens At Tamiami Community Development District Assessment Comparison

Original Units

Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year
2017/2018	2018/2019	2019/2020	2020/2021	2021/2022
Assessment	Assessment	Assessment	Assessment	Projected Assessment
Before Discount*	Before Discount*	Before Discount*	Before Discount*	Before Discount*

Administrative Assessment For 22' Townhomes	$
Maintenance Assessment For 22' Townhomes	$

61.40   $
46.12   $

60.53   $
46.08   $

54.59  $
52.00  $

53.52  $
53.02  $

56.44
50.03

Debt Assessment For 22' Townhomes

$	719.47

$	719.47

$	719.47

$	719.47

$	719.47

Total	$	826.99	$	826.08	$	826.06	$	826.01	$	825.94	
Administrative Assessment For 30' Townhomes	$	61.40	$	60.53	$	54.59	$	53.52	$	56.44	
Maintenance Assessment For 30' Townhomes	$	46.12	$	46.08	$	52.00	$	53.02	$	50.03	
Debt Assessment For 30' Townhomes	$	873.67	$	873.67	$	873.67	$	873.67	$	873.67	
Total	$	981.19	$	980.28	$	980.26	$	980.21	$	980.14	
Administrative Assessment For Single Family Homes	$	61.40	$	60.53	$	54.59	$	53.52	$	56.44	
Maintenance Assessment For Single Family Homes	$	46.12	$	46.08	$	52.00	$	53.02	$	50.03	
Debt Assessment For Single Family Homes	$	1,284.79	$	1,284.79	$	1,284.79	$	1,284.79	$	1,284.79	
Total	$	1,392.31	$	1,391.40	$	1,391.38	$	1,391.33	$	1,391.26	

Expansion Area Units											
Administrative Assessment For Villas	$	61.40	$	60.53	$	54.59	$	53.52	$	56.44	
Maintenance Assessment For Villas	$	46.12	$	46.08	$	52.00	$	53.02	$	50.03	
Clubhouse O&M Assessment For Villas	$	-	$	773.02	$	773.02	$	773.02	$	773.02	
Clubhouse Debt Assessment For Villas	$	-	$	686.94	$	686.94	$	686.94	$	686.94	
Debt Assessment For Villas	$	744.68	$	744.68	$	744.68	$	744.68	$	744.68	
Total	$	852.20	$	2,311.25	$	2,311.23	$	2,311.18	$	2,311.11	
Administrative Assessment For Townhomes	$	61.40	$	60.53	$	54.59	$	53.52	$	56.44	
Maintenance Assessment For Townhomes	$	46.12	$	46.08	$	52.00	$	53.02	$	50.03	
Clubhouse O&M Assessment For Townhomes	$	-	$	773.02	$	773.02	$	773.02	$	773.02	
Clubhouse Debt Assessment For Townhomes	$	-	$	686.94	$	686.94	$	686.94	$	686.94	
Debt Assessment For Townhomes	$	944.68	$	944.68	$	944.68	$	944.68	$	944.68	
Total	$	1,052.20	$	2,511.25	$	2,511.23	$	2,511.18	$	2,511.11	
Administrative Assessment For Single Family Homes	$	61.40	$	60.53	$	54.59	$	53.52	$	56.44	
Maintenance Assessment For Single Family Homes	$	46.12	$	46.08	$	52.00	$	53.02	$	50.03	
Clubhouse O&M Assessment For Single Family Homes	$	-	$	773.02	$	773.02	$	773.02	$	773.02	
Clubhouse Debt Assessment For Single Family Homes	$	-	$	686.94	$	686.94	$	686.94	$	686.94	
Debt Assessment For Single Family Homes	$	1,595.75	$	1,595.75	$	1,595.75	$	1,595.75	$	1,595.75	
Total	$	1,703.27	$	3,162.32	$	3,162.30	$	3,162.25	$	3,162.18	
Tract B Townhomes											
Administrative Assessment For Tract B Townhomes	$	-	$	93.92	$	88.00	$	86.93	$	89.85	
Maintenance Assessment For Tract B Townhomes	$	-	$	46.08	$	52.00	$	53.02	$	50.03	
Clubhouse O&M Assessment For Tract B Townhomes	$	-	$	773.02	$	773.02	$	773.02	$	773.02	
Clubhouse Debt Assessment For Tract B Townhomes	$	-	$	686.94	$	686.94	$	686.94	$	686.94	

Debt Assessment For Tract B Townhomes

$	-          $	903.25

$	903.25

$	903.25

$	903.25

Total

$	-	$

2,503.21   $

2,503.21   $

2,503.16   $

2,503.09

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

TOTAL UNITS		
Community Information		Original Units:	446	
Original Units		Expansion Area Units:	398	
22' Townhomes	188	Tract B Townhomes (Expansion Area):	47	
30' Townhomes	67	Total Units	891	
Single Family Homes	191			
Total Original Units	446	Original Units - Single Family Homes Information
Total Units	
191	
Expansion Area Units		Prepayments	1	
Villas	160	Billed For Debt	190	
Townhomes	101			
Single Family Homes	137	Expansion - Single Family Homes Information		
Total Expansion Area Units	398	Total Units	137	
		Prepayments	1	
Tract B Townhomes (Expansion Area)	47	Billed For Debt	136	
Expansion Area Total Units	445			

8/3/2021 9:42 AM	VII