Century Gardens At Tamiami Community Development District

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

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL CLUBHOUSE BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET (SERIES 2014)

AMENDED FINAL DEBT SERVICE FUND BUDGET (SERIES 2016)

AMENDED FINAL DEBT SERVICE FUND BUDGET (SERIES 2017)

AMENDED FINAL DEBT SERVICE FUND BUDGET (SERIES 2018)

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

REVENUES	FISCAL YEAR 2021/2022 BUDGET
10/1/21 - 9/30/22	AMENDED FINAL BUDGET
10/1/21 - 9/30/22	YEAR TO DATE ACTUAL
10/1/21 - 9/29/22	
Administrative Assessments	50,284	53,237	53,237	
Maintenance Assessments	44,574	44,574	44,574	
Clubhouse O&M Assessments	343,994	343,995	343,995	
Debt Assessments - Series 2014 (Expansion Units)	431,583	431,585	431,585	
Debt Assessments - Series 2016 (Original Units)	437,905	437,907	437,907	
Debt Assessments - Series 2017 (Townhomes)	42,452	42,452	42,452	
Debt Assessments - Series 2018 (Clubhouse)	305,685	305,686	305,686	
Other Revenues	0	74	74	
Other Revenues - Clubhouse	0	3,245	3,245	
Interest Income	480	78	78	
TOTAL REVENUES	$	1,656,957	$	1,662,833	$	1,662,833	
				
EXPENDITURES				
ADMINISTRATIVE EXPENDITURES				
Supervisor Fees	1,500	0	0	
Payroll Taxes (Employer)	115	0	0	
Management	32,172	32,172	32,172	
Legal	13,000	12,308	12,308	
Assessment Roll	7,500	7,500	7,500	
Audit Fees	6,000	5,400	5,400	
Arbitrage Rebate Fees	1,300	1,300	1,300	
Insurance	7,000	6,562	6,562	
Legal Advertisements	850	850	533	
Miscellaneous	900	900	517	
Postage	400	465	454	
Office Supplies	675	995	956	
Dues & Subscriptions	175	175	175	
Trustee Fees	16,000	15,958	15,958	
Continuing Disclosure Fees	1,400	1,400	1,400	
Website Management	2,000	2,000	2,000	
Administrative Contingency	1,200	1,200	0	
TOTAL ADMINISTRATIVE EXPENDITURES	$	92,187	$	89,185	$	87,235	
				
MAINTENANCE EXPENDITURES				
Engineering - Annual Report/Inspections	3,500	3,500	2,030	
Park Landscaping Maintenance (Includes Mulch)	15,000	15,000	13,900	
Park Maintenance	8,000	1,000	0	
Street/Roadway & Stormwater System Maintenance	6,000	1,000	0	
Irrigation System Pump Station Maintenance	2,400	1,000	0	
FPL Power	1,800	1,000	0	
Field Operation Management	1,200	1,200	1,200	
General Maintenance	4,000	2,000	0	
TOTAL MAINTENANCE EXPENDITURES	$	41,900	$	25,700	$	17,130	
				
TOTAL CLUBHOUSE EXPENDITURES	$	323,354	$	273,023	247,303	
				
TOTAL EXPENDITURES	$	457,441	$	387,908	$	351,668	
				
REVENUES LESS EXPENDITURES	$	1,199,516	$	1,274,925	$	1,311,165	
				
Bond Payments - Series 2014 (Expansion Units)	(405,688)	(411,426)	(411,426)	
Bond Payments - Series 2016 (Original Units)	(411,631)	(417,452)	(417,452)	
Bond Payments - Series 2017 (Townhomes)	(39,905)	(40,470)	(40,470)	
Bond Payments - Series 2018 (Clubhouse)	(287,344)	(291,407)	(291,407)	
				
BALANCE	$	54,948	$	114,170	$	150,410	
				
County Appraiser & Tax Collector Fee	(33,129)	(15,979)	(15,979)	
Discounts For Early Payments	(66,259)	(61,484)	(61,484)	
				
EXCESS/ (SHORTFALL)	$	(44,440)	$	36,707	$	72,947	
				
Carryover From Prior Year	44,440	44,440	0	
				
NET EXCESS/ (SHORTFALL)	$	-	$	81,147	$	72,947	

FUND BALANCE AS OF 9/30/21	
FY 2021/2022 ACTIVITY	
FUND BALANCE AS OF 9/30/22	
LESS PROJECTED CLUBHOUSE RESERVE AS OF 9/30/22	
OPERATING FUND BALANCE AS OF 9/30/22	

$496,675	
$36,707	
$533,382	
$364,417	
$168,965	

Notes
Carryover From Prior Year Of $44,440 was used to reduce Fiscal Year 2021/2022 Assessments. Carryover From Prior Year Of $44,440 to be used to reduce Fiscal Year 2022/2023 Assessments.

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

CLUBHOUSE REVENUES	FISCAL YEAR 2021/2022 BUDGET 10/1/21 - 9/30/22	AMENDED FINAL BUDGET
10/1/21 - 9/30/22	YEAR TO DATE ACTUAL
10/1/21 - 9/29/22	
Clubhouse - O&M Assessments	343,994	343,995	343,995	
Clubhouse - Rentals	0	1,410	1,410	
Cluhouse - Key Fobs	0	1,125	1,125	
Other Revenue - Clubhouse	0	710	710	
Other Revenue - Insurance Claim	0	0	0	
Total Cluhouse Revenues	$	343,994	$	347,240	$	347,240	
				
CLUBHOUSE OPERATIONS & MAINTENANCE EXPENDITURES				
Access Control	750	250	0	
Alarm Monitoring	1,000	1,000	724	
Gym Equipment Maintenance	6,000	3,500	2,541	
Cable & Internet Service	3,800	3,203	3,203	
FPL Power	15,000	12,076	12,076	
General Maintenance & Repairs	28,313	33,000	30,698	
Insurance - Property/Casualty/Liability	19,000	14,078	14,078	
Irrigation Repairs & Maintenance	2,000	0	0	
Janitorial Services & Supplies	28,000	16,000	14,911	
Landscape Maintenance (Mulch & Plant Replacement)	25,000	27,000	25,980	
Management Fees (Castle)	14,000	13,402	13,402	
Office & Kitchen Supplies	1,800	550	377	
Payroll - Club Staff	99,687	67,579	67,579	
Payroll - Club Staff Health Insurance	9,400	4,635	4,635	
Pest Control - Interior & Exterior	1,200	1,200	900	
Pool & Spa Maintenance	30,000	26,000	23,161	
Printing & Postage	500	0	0	
Property Taxes	5,000	0	0	
Water & Sewer	4,200	3,495	3,495	
Computer Services	2,000	500	317	
Security	19,000	21,555	21,555	
Oversight & Financial Management	6,000	6,000	6,000	
Contingency	35,000	17,500	1,671	
AC Maintenance	3,000	500	0	
TOTAL CLUBHOUSE OPERATIONS & MAINTENANCE EXPENDITURES	$	359,650	$	273,023	$	247,303	
				
Clubhouse Revenues Less Expenditures	$	(15,656)	$	74,217	$	99,937	
				
County Appraiser & Tax Collector Fee	(6,880)	(3,324)	(3,324)	
Discounts For Early Payments	(13,760)	(12,789)	(12,789)	
				
Excess/ (Shortfall)	$	(36,296)	$	58,104	$	83,824	
				
Carryover From Prior Year	36,296	36,296	0	
				
Net Excess/ (Shortfall)	$	-	$	94,400	$	83,824	

FUND BALANCE AS OF 9/30/21	
FY 2021/2022 ACTIVITY	
FUND BALANCE AS OF 9/30/22	

$306,313	
$58,104	
$364,417	

Notes
Discounts and Fees Actual Amounts Estimated As 20.8% Of Total District Discounts & Fees.
Carryover From Prior Year Of $36,296 was used to reduce Fiscal Year 2021/2022 Assessments. Carryover From Prior Year Of $87,296 to be used to reduce Fiscal Year 2022/2023 Assessments.

REVENUES	FISCAL YEAR 2021/2022 BUDGET
10/1/21 - 9/30/22	AMENDED FINAL BUDGET
10/1/21 - 9/30/22	YEAR TO DATE ACTUAL
10/1/21 - 9/29/22	
Interest Income	25	1,859	1,859	
NAV Tax Collection	405,688	411,426	411,426	
Total Revenues	$	405,713	$	413,285	$	413,285	
				
EXPENDITURES				
Principal Payments	130,000	130,000	130,000	
Interest Payments	265,950	268,350	268,350	
Bond Redemption	9,763	0	0	

Total Expenditures	
$	405,713	
$	398,350	
$	398,350	
				
Net Excess/ (Shortfall)	$	-	$	14,935	$	14,935	

FUND BALANCE AS OF 9/30/22	
FY 2022/2023 ACTIVITY	
FUND BALANCE AS OF 9/30/23	

$457,047	
$14,935	
$471,982	

Notes
Reserve Fund Balance = $101,011*. Revenue Fund Balance = $369,547*. Prepayment Account Balance = $1,424*.
Revenue Fund Account Balance To Be Used To Make 11/1/22 Bond Payment Of $262,975 - Principal Payment: $130,000 - Interest Payment: $132,975.
* 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 9/30/22 =	$5,395,000		

REVENUES	FISCAL YEAR 2021/2022 BUDGET
10/1/21 - 9/30/22	AMENDED FINAL BUDGET
10/1/21 - 9/30/22	YEAR TO DATE ACTUAL
10/1/21 - 9/29/22	
Interest Income (2016)	25	20	20	
NAV Tax Collection	411,631	417,452	417,452	
Total Revenues	$	411,656	$	417,472	$	417,472	
				
EXPENDITURES				
Principal Payments (2016)	230,000	230,000	230,000	
Interest Payments (2016)	178,725	181,313	181,313	
Bond Redemption	2,931	0	0	
Total Expenditures	$	411,656	$	411,313	$	411,313	
				
Net Excess/ (Shortfall)	$	-	$	6,159	$	6,159	

FUND BALANCE AS OF 9/30/21	
FY 2021/2022 ACTIVITY	
FUND BALANCE AS OF 9/30/22	

$352,856	
$6,159	
$359,015	

Notes
Reserve Fund Balance = $207,994*. Revenue Fund Balance = $150,617*. Prepayment Account Balance = $404*.
Revenue Fund Account Balance To Be Used To Make 11/1/22 Interest Payment Of $88,069.
* 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 9/30/22 =	$4,575,000		

REVENUES	FISCAL YEAR 2021/2022 BUDGET
10/1/21 - 9/30/22	AMENDED FINAL BUDGET
10/1/21 - 9/30/22	YEAR TO DATE ACTUAL
10/1/21 - 9/29/22	
Interest Income (2017)	25	178	178	
NAV Tax Collection	39,905	40,470	40,470	
Total Revenues	$	39,930	$	40,648	$	40,648	
				
EXPENDITURES				
Principal Payments (2017)	13,000	13,000	13,000	
Interest Payments (2017)	26,094	26,313	26,313	
Bond Redemption	836	0	0	
Total Expenditures	$	39,930	$	39,313	$	39,313	
				
Net Excess/ (Shortfall)	$	-	$	1,335	$	1,335	

FUND BALANCE AS OF 9/30/21	
FY 2021/2022 ACTIVITY	
FUND BALANCE AS OF 9/30/22	

$41,888	
$1,335	
$43,223	

Notes
Reserve Fund Balance = $10,002*. Revenue Fund Balance = $33,221*.
Revenue Fund Account Balance To Be Used To Make 12/15/22 Bond Payment Of $26,047 - Principal Payment: $13,000 - Interest Payment: $13,047.
* 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 9/30/22. =	December 2047

$601,000	June 15th & December 15th	

REVENUES	FISCAL YEAR 2021/2022 BUDGET
10/1/21 - 9/30/22	AMENDED FINAL BUDGET
10/1/21 - 9/30/22	YEAR TO DATE ACTUAL
10/1/21 - 9/29/22	
Interest Income (2018)	25	1,622	1,622	
NAV Tax Collection	287,344	291,407	291,407	
Total Revenues	$	287,369	$	293,029	$	293,029	
				
EXPENDITURES				
Principal Payments (2018)	100,000	95,000	95,000	
Interest Payments (2018)	184,644	186,069	186,069	
Bond Redemption	2,725	0	0	
Total Expenditures	$	287,369	$	281,069	$	281,069	
				
Net Excess/ (Shortfall)	$	-	$	11,960	$	11,960	

FUND BALANCE AS OF 9/30/21	
FY 2021/2022 ACTIVITY	
FUND BALANCE AS OF 9/30/22	

$364,945	
$11,960	
$376,905	

Notes
Reserve Fund Balance = $144,286*. Revenue Fund Balance = $232,619*.
Revenue Fund Account Balance To Be Used To Make 11/1/22 Bond Payment Of $192,322 - Principal Payment: $100,000 - Interest Payment: $92,322.
* 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 9/30/22 =	$4,570,000