Century Gardens At Tamiami Community Development District

Amended Final Budget For Fiscal Year 2020/2021
October 1, 2020 - September 30, 2021

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 2020/2021 OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2020/2021 BUDGET
10/1/20 - 9/30/21	AMENDED FINAL BUDGET
10/1/20 - 9/30/21	YEAR TO DATE ACTUAL
10/1/20 - 9/29/21	
Administrative Assessments	47,684	50,534	50,534	
Maintenance Assessments	47,234	47,241	47,241	
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)	437,905	437,906	437,906	
Debt Assessments - Series 2017 (Townhomes)	42,452	42,453	42,453	
Debt Assessments - Series 2018 (Clubhouse)	305,685	305,688	305,688	
Other Revenues	0	316	316	
Other Revenues - Clubhouse	0	49,654	49,654	
Interest Income	480	1,238	1,238	
TOTAL REVENUES	$	1,657,017	$	1,710,607	$	1,710,607	
				
EXPENDITURES				
ADMINISTRATIVE EXPENDITURES				
Supervisor Fees	1,500	0	0	
Payroll Taxes (Employer)	115	0	0	
Management	31,728	31,728	31,728	
Legal	12,000	12,614	12,614	
Assessment Roll	7,500	7,500	7,500	
Audit Fees	6,000	5,100	5,100	
Arbitrage Rebate Fees	1,300	1,300	650	
Insurance	6,500	6,340	6,340	
Legal Advertisements	850	850	758	
Miscellaneous	900	750	566	
Postage	400	500	489	
Office Supplies	675	625	603	
Dues & Subscriptions	175	175	175	
Trustee Fees	16,000	19,667	19,667	
Continuing Disclosure Fees	1,400	1,400	1,400	
Website Management	2,000	2,000	2,000	
Administrative Contingency	1,200	600	0	
TOTAL ADMINISTRATIVE EXPENDITURES	$	90,243	$	91,149	$	89,590	
				
MAINTENANCE EXPENDITURES				
Engineering - Annual Report/Inspections	3,500	1,175	1,175	
Park Landscaping Maintenance (Includes Mulch)	15,000	13,400	12,400	
Park Maintenance	8,000	7,000	4,402	
Street/Roadway & Stormwater System Maintenance	6,000	500	0	
Irrigation System Pump Station Maintenance	2,400	500	0	
FPL Power	1,800	500	0	
Field Operation Management	1,200	1,200	1,200	
General Maintenance	6,500	3,000	1,560	
TOTAL MAINTENANCE EXPENDITURES	$	44,400	$	27,275	$	20,737	
				
TOTAL CLUBHOUSE EXPENDITURES	$	323,354	$	307,667	290,278	
				
TOTAL EXPENDITURES	$	457,997	$	426,091	$	400,605	
				
REVENUES LESS EXPENDITURES	$	1,199,020	$	1,284,516	$	1,310,002	
				
Bond Payments - Series 2014 (Expansion Units)	(405,688)	(411,787)	(411,787)	
Bond Payments - Series 2016 (Original Units)	(412,839)	(416,861)	(416,861)	
Bond Payments - Series 2017 (Townhomes)	(39,905)	(40,392)	(40,392)	
Bond Payments - Series 2018 (Clubhouse)	(287,344)	(291,365)	(291,365)	
				
BALANCE	$	53,244	$	124,111	$	149,597	
				
County Appraiser & Tax Collector Fee	(33,158)	(15,974)	(15,974)	
Discounts For Early Payments	(66,315)	(61,923)	(61,923)	
				
EXCESS/ (SHORTFALL)	$	(46,229)	$	46,214	$	71,700	
				
Carryover From Prior Year	41,385	41,385	0	
				
NET EXCESS/ (SHORTFALL)	$	(4,844)	$	87,599	$	71,700	

FUND BALANCE AS OF 9/30/20	
FY 2020/2021 ACTIVITY	
FUND BALANCE AS OF 9/30/21	
LESS PROJECTED CLUBHOUSE RESERVE AS OF 9/30/21	
OPERATING FUND BALANCE AS OF 9/30/21	

$416,964	
$46,214	
$463,178	
$289,122	
$174,056	

Notes
Carryover From Prior Year Of $44,940 was used to reduce Fiscal Year 2020/2021 Assessments. Carryover From Prior Year Of $44,440 to be used to reduce Fiscal Year 2021/2022 Assessments.

CENTURY GARDENS AT TAMIAMI COMMUNITY DEVELOPMENT DISTRICT CLUBHOUSE
FISCAL YEAR 2020/2021 OCTOBER 1, 2020 - SEPTEMBER 30, 2021

CLUBHOUSE REVENUES	FISCAL YEAR 2020/2021 BUDGET 10/1/20 - 9/30/21	AMENDED FINAL BUDGET
10/1/20 - 9/30/21	YEAR TO DATE ACTUAL
10/1/20 - 9/29/21	
Clubhouse - O&M Assessments	343,994	343,994	343,994	
Clubhouse - Rentals	0	0	0	
Cluhouse - Key Fobs	0	1,065	1,065	
Other Revenue - Clubhouse	0	12,767	12,767	
Other Revenue - Insurance Claim	0	35,822	35,822	
Total Cluhouse Revenues	$	343,994	$	393,648	$	393,648	
				
CLUBHOUSE OPERATIONS & MAINTENANCE EXPENDITURES				
Access Control	750	0	0	
Alarm Monitoring	1,000	698	698	
Gym Equipment Maintenance	6,000	1,500	745	
Cable & Internet Service	3,200	2,844	2,844	
FPL Power	16,000	8,974	8,974	
General Maintenance & Repairs	22,000	15,000	11,978	
Insurance - Property/Casualty/Liability	19,000	13,602	13,602	
Irrigation Repairs & Maintenance	2,000	2,000	1,675	
Janitorial Services & Supplies	30,000	20,000	18,388	
Landscape Maintenance (Mulch & Plant Replacement)	23,200	22,000	20,655	
Management Fees (Castle)	15,000	13,273	13,273	
Office & Kitchen Supplies	1,800	1,800	1,613	
Payroll - Club Staff	117,409	108,221	108,221	
Payroll - Club Staff Health Insurance	8,600	7,448	7,448	
Pest Control - Interior & Exterior	1,200	900	750	
Pool & Spa Maintenance	27,000	27,000	24,834	
Printing & Postage	500	0	0	
Property Taxes	5,000	0	0	
Resident Social Expense	5,000	0	0	
Water & Sewer	4,200	2,500	1,906	
Computer Services	2,000	350	286	
Security	15,000	10,000	6,843	
Oversight & Financial Management	6,000	6,000	6,000	
Contingency	18,000	6,000	2,988	
Contingency - COVID-19 Required Services and Expenditures	35,000	1,000	0	
Water Damage Repair	0	36,557	36,557	
TOTAL CLUBHOUSE OPERATIONS & MAINTENANCE EXPENDITURES	$	384,859	$	307,667	$	290,278	
				
Clubhouse Revenues Less Expenditures	$	(40,865)	$	85,981	$	103,370	
				
County Appraiser & Tax Collector Fee	(6,811)	(3,300)	(3,300)	
Discounts For Early Payments	(13,829)	(12,880)	(12,880)	
				
Excess/ (Shortfall)	$	(61,505)	$	69,801	$	87,190	
				
Carryover From Prior Year	61,505	61,505	0	
				
Net Excess/ (Shortfall)	$	-	$	131,306	$	87,190	

FUND BALANCE AS OF 9/30/20	
FY 2020/2021 ACTIVITY	
FUND BALANCE AS OF 9/30/21	

$219,321	
$69,801	
$289,122	

Notes
Discounts and Fees Actual Amounts Estimated As 20.8% Of Total District Discounts & Fees.
Carryover From Prior Year Of $61,505 was used to reduce Fiscal Year 2020/2021 Assessments. Carryover From Prior Year Of $36,296 to be used to reduce Fiscal Year 2021/2022 Assessments.

CENTURY GARDENS AT TAMIAMI COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND (SERIES 2014 - EXPANSION AREA)
FISCAL YEAR 2020/2021 OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2020/2021 BUDGET
10/1/20 - 9/30/21	AMENDED FINAL BUDGET
10/1/20 - 9/30/21	YEAR TO DATE ACTUAL
10/1/20 - 9/29/21	
Interest Income	100	44	44	
NAV Tax Collection	405,688	411,787	411,787	
Total Revenues	$	405,788	$	411,831	$	411,831	
				
EXPENDITURES				
Principal Payments	125,000	125,000	125,000	
Interest Payments	270,950	273,450	273,450	
Bond Redemption	9,838	0	0	

Total Expenditures	
$	405,788	
$	398,450	
$	398,450	
				
Net Excess/ (Shortfall)	$	-	$	13,381	$	13,381	

FUND BALANCE AS OF 9/30/20	
FY 2020/2021 ACTIVITY	
FUND BALANCE AS OF 9/30/21	

$443,666	
$13,381	
$457,047	

Notes
Reserve Fund Balance = $100,755*. Revenue Fund Balance = $354,872*. Prepayment Account Balance = $1,420*.
Revenue Fund Account Balance To Be Used To Make 11/1/21 Bond Payment Of $265,475 - Principal Payment: $130,000 - Interest Payment: $135,475.
* Approximate Amounts

Section Of District Obligated To Pay Series 2014 Bonds: Expansion Units

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 9/30/21 =	$5,525,000		

CENTURY GARDENS AT TAMIAMI COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND (SERIES 2016 - ORIGINAL UNITS)
FISCAL YEAR 2020/2021 OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2020/2021 BUDGET
10/1/20 - 9/30/21	AMENDED FINAL BUDGET
10/1/20 - 9/30/21	YEAR TO DATE ACTUAL
10/1/20 - 9/29/21	
Interest Income (2016)	100	21	21	
NAV Tax Collection	411,631	416,861	416,861	
Total Revenues	$	411,731	$	416,882	$	416,882	
				
EXPENDITURES				
Principal Payments (2016)	225,000	225,000	225,000	
Interest Payments (2016)	183,844	186,375	186,375	
Bond Redemption	2,887	0	0	
Total Expenditures	$	411,731	$	411,375	$	411,375	
				
Net Excess/ (Shortfall)	$	-	$	5,507	$	5,507	

FUND BALANCE AS OF 9/30/20	
FY 2020/2021 ACTIVITY	
FUND BALANCE AS OF 9/30/21	

$347,349	
$5,507	
$352,856	

Notes
Reserve Fund Balance = $207,985*. Revenue Fund Balance = $144,467*. Prepayment Account Balance = $404*.
Revenue Fund Account Balance To Be Used To Make 11/1/21 Interest Payment Of $90,656.
* Approximate Amounts

Section Of District Obligated To Pay Series 2016 Bonds: Original Units

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 9/30/21 =	$4,805,000		

CENTURY GARDENS AT TAMIAMI COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND (SERIES 2017 - TOWNHOMES)
FISCAL YEAR 2020/2021 OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2020/2021 BUDGET
10/1/20 - 9/30/21	AMENDED FINAL BUDGET
10/1/20 - 9/30/21	YEAR TO DATE ACTUAL
10/1/20 - 9/29/21	
Interest Income (2017)	25	5	5	
NAV Tax Collection	39,905	40,392	40,392	
Total Revenues	$	39,930	$	40,397	$	40,397	
				
EXPENDITURES				
Principal Payments (2017)	13,000	12,000	12,000	
Interest Payments (2017)	26,533	26,735	26,735	
Bond Redemption	397	0	0	
Total Expenditures	$	39,930	$	38,735	$	38,735	
				
Net Excess/ (Shortfall)	$	-	$	1,662	$	1,662	

FUND BALANCE AS OF 9/30/20	
FY 2020/2021 ACTIVITY	
FUND BALANCE AS OF 9/30/21	

$40,227	
$1,662	
$41,889	

Notes
Reserve Fund Balance = $9,977*. Revenue Fund Balance = $31,912*.
Revenue Fund Account Balance To Be Used To Make 12/15/21 Bond Payment Of $26,266 - Principal Payment: $13,000 - Interest Payment: $13,267.
* Approximate Amounts

Section Of District Obligated To Pay Series 2017 Bonds:
Tract B Townhomes

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 =

Par Amount As Of 9/30/21. =	December 2047

$614,000	June 15th & December 15th	

CENTURY GARDENS AT TAMIAMI COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND (SERIES 2018 - CLUBHOUSE)
FISCAL YEAR 2020/2021 OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2020/2021 BUDGET
10/1/20 - 9/30/21	AMENDED FINAL BUDGET
10/1/20 - 9/30/21	YEAR TO DATE ACTUAL
10/1/20 - 9/29/21	
Interest Income (2018)	25	36	36	
NAV Tax Collection	287,344	291,365	291,365	
Total Revenues	$	287,369	$	291,401	$	291,401	
				
EXPENDITURES				
Principal Payments (2018)	95,000	95,000	95,000	
Interest Payments (2018)	187,494	188,919	188,919	
Bond Redemption	4,875	0	0	
Total Expenditures	$	287,369	$	283,919	$	283,919	
				
Net Excess/ (Shortfall)	$	-	$	7,482	$	7,482	

FUND BALANCE AS OF 9/30/20	
FY 2020/2021 ACTIVITY	
FUND BALANCE AS OF 9/30/21	

$357,463	
$7,482	
$364,945	

Notes
Reserve Fund Balance = $143,679*. Revenue Fund Balance = $221,266*.
Revenue Fund Account Balance To Be Used To Make 11/1/21 Bond Payment Of $188,747 - Principal Payment: $95,000 - Interest Payment: $93,747.
* Approximate Amounts

Sections Of District Obligated To Pay Series 2018 Bonds: Expansion Units & Tract B Townhomes

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 9/30/21 =	$4,665,000