Century Gardens At Tamiami Community Development District

Amended Final Budget For Fiscal Year 2023/2024
October 1, 2023 - September 30, 2024

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)

AMENDED FINAL BUDGET
CENTURY GARDENS AT TAMIAMI COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2023/2024 OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	FISCAL YEAR 2023/2024 BUDGET
10/1/23 - 9/30/24	AMENDED FINAL BUDGET
10/1/23 - 9/30/24	YEAR TO DATE ACTUAL
10/1/23 - 9/29/24	
Administrative Assessments	53,416	56,460	56,460	
Maintenance Assessments	41,383	42,726	42,726	
Clubhouse O&M Assessments	343,994	340,014	340,014	
Debt Assessments - Series 2014 (Expansion Units)	431,583	430,392	430,392	
Debt Assessments - Series 2016 (Original Units)	437,905	437,801	437,801	
Debt Assessments - Series 2017 (Townhomes)	42,452	47,639	47,639	
Debt Assessments - Series 2018 (Clubhouse)	305,685	302,302	302,302	
Other Revenues	0	0	0	
Other Revenues - Clubhouse	0	4,628	4,628	
Interest Income	480	37,700	37,646	
TOTAL REVENUES	$	1,656,898	$	1,699,662	$	1,699,608	
				
EXPENDITURES				
ADMINISTRATIVE EXPENDITURES				
Supervisor Fees	1,500	0	0	
Payroll Taxes (Employer)	115	0	0	
Management	34,116	34,116	34,116	
Legal	14,000	9,500	7,307	
Assessment Roll	7,500	7,500	7,500	
Audit Fees	6,000	5,800	5,800	
Arbitrage Rebate Fees	1,300	1,300	650	
Insurance	8,000	8,000	8,000	
Legal Advertisements	850	3,000	1,926	
Miscellaneous	800	800	588	
Postage	500	190	176	
Office Supplies	675	875	824	
Dues & Subscriptions	175	175	175	
Trustee Fees	17,000	16,496	16,496	
Continuing Disclosure Fees	1,400	1,400	1,400	
Website Management	2,000	2,000	2,000	
Administrative Contingency	1,000	500	0	
TOTAL ADMINISTRATIVE EXPENDITURES	$	96,931	$	91,652	$	86,958	
				
MAINTENANCE EXPENDITURES				
Engineering - Annual Report/Inspections	3,500	2,295	2,295	
Park Landscaping Maintenance (Includes Mulch)	15,000	5,000	0	
Park Maintenance	8,000	18,000	15,347	
Street/Roadway & Stormwater System Maintenance	5,000	1,500	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	2,000	1,000	0	
TOTAL MAINTENANCE EXPENDITURES	$	38,900	$	30,995	$	18,842	
				
TOTAL CLUBHOUSE EXPENDITURES	$	423,483	272,764	223,930	
				
TOTAL EXPENDITURES	$	559,314	$	395,411	$	329,730	
				
REVENUES LESS EXPENDITURES	$	1,097,584	$	1,304,251	$	1,369,878	
				
Bond Payments - Series 2014 (Expansion Units)	(405,688)	(411,243)	(411,243)	
Bond Payments - Series 2016 (Original Units)	(411,631)	(417,267)	(417,267)	
Bond Payments - Series 2017 (Townhomes)	(39,905)	(40,452)	(40,452)	
Bond Payments - Series 2018 (Clubhouse)	(287,344)	(291,276)	(291,276)	
				
BALANCE	$	(46,984)	$	144,013	$	209,640	
				
County Appraiser & Tax Collector Fee	(33,128)	(11,799)	(11,799)	
Discounts For Early Payments	(66,257)	(62,411)	(62,411)	
				
EXCESS/ (SHORTFALL)	$	(146,369)	$	69,803	$	135,430	
				
Carryover From Prior Year (Operating)	46,240	46,240	0	
Carryover From Prior Year (Clubhouse)	100,129	100,129	0	
				
NET EXCESS/ (SHORTFALL)	$	-	$	216,172	$	135,430	

FUND BALANCE AS OF 9/30/23	
FY 2023/2024 ACTIVITY	
FUND BALANCE AS OF 9/30/24	
LESS PROJECTED CLUBHOUSE FUND BALANCE AS OF 9/30/24	
OPERATING FUND BALANCE AS OF 9/30/24	

$625,440	
$69,803	
$695,243	
$503,646	
$191,597	

Notes
Carryover From Prior Year Of $46,240 was used to reduce Fiscal Year 2023/2024 Assessments. Carryover From Prior Year Of $48,390 to be used to reduce Fiscal Year 2024/2025 Assessments.

AMENDED FINAL BUDGET
CENTURY GARDENS AT TAMIAMI COMMUNITY DEVELOPMENT DISTRICT CLUBHOUSE
FISCAL YEAR 2023/2024 OCTOBER 1, 2023 - SEPTEMBER 30, 2024

CLUBHOUSE REVENUES	FISCAL YEAR 2023/2024 BUDGET 10/1/23 - 9/30/24	AMENDED FINAL BUDGET
10/1/23 - 9/30/24	YEAR TO DATE ACTUAL
10/1/23 - 9/29/24	
Clubhouse - O&M Assessments	343,994	340,014	340,014	
Clubhouse - Rentals	0	2,738	2,738	
Cluhouse - Key Fobs	0	1,170	1,170	
Other Revenue - Clubhouse	0	720	720	
Total Cluhouse Revenues	$	343,994	$	344,642	$	344,642	
				
CLUBHOUSE OPERATIONS & MAINTENANCE EXPENDITURES				
Access Control	750	0	0	
Alarm Monitoring	1,000	1,000	899	
AC Maintenance/Repairs	3,000	2,000	1,020	
Gym Equipment Maintenance	6,000	3,000	1,642	
Telephone, Cable & Internet Service	3,800	3,800	3,001	
FPL Power	15,000	12,500	11,567	
General Maintenance & Repairs	30,000	10,000	6,749	
Insurance - Property/Casualty/Liability	20,000	20,829	20,829	
Irrigation Repairs & Maintenance	2,000	2,000	1,429	
Janitorial Services & Supplies	25,000	20,000	17,335	
Landscape Maintenance (Mulch & Plant Replacement)	31,000	27,000	24,296	
Management Fees (Castle)	15,000	13,402	13,402	
Office & Kitchen Supplies	1,800	1,800	1,628	
Payroll - Club Staff	85,000	66,920	66,920	
Payroll - Club Staff Health Insurance	8,000	5,300	4,793	
Pest Control - Interior & Exterior	1,200	700	525	
Pool & Spa Maintenance	30,000	27,000	24,238	
Printing & Postage	500	0	0	
Property Taxes	5,000	0	0	
Water & Sewer	4,500	2,600	2,344	
Computer Services	2,000	0	0	
Security	30,000	10,913	10,913	
Oversight & Financial Management	6,000	6,000	6,000	
Contingency	30,000	20,000	4,400	
Roof On Pool Room Project	15,000	15,000	0	
Camera System Maintenance	3,000	1,000	0	
Clubhouse Pool & Spa Diamond Brite Project	43,333	43,333	0	
Clubhouse & Mail Hut Roof Replacement Reserve	5,600	5,600	0	
TOTAL CLUBHOUSE OPERATIONS & MAINTENANCE EXPENDITURES	$	423,483	$	272,764	$	223,930	
				
Clubhouse Revenues Less Expenditures	$	(79,489)	$	71,878	$	120,712	
				
County Appraiser & Tax Collector Fee	(6,880)	(2,454)	(2,454)	
Discounts For Early Payments	(13,760)	(12,981)	(12,981)	
				
Excess/ (Shortfall)	$	(100,129)	$	56,443	$	105,277	
				
Carryover From Prior Year	100,129	100,129	0	
				
Net Excess/ (Shortfall)	$	-	$	156,572	$	105,277	

FUND BALANCE AS OF 9/30/23	
FY 2023/2024 ACTIVITY	
FUND BALANCE AS OF 9/30/24	

$447,203	
$56,443	
$503,646	

Notes
Discounts and Fees Actual Amounts Estimated As 20.8% Of Total District Discounts & Fees.
Fund Balance Includes Reserves (Pool Spa - $43,333 & Mail Hut Roof - $5,600). Reserves To Be Adjusted On 10-1-24.
Carryover From Prior Year Of $100,129 was used to reduce Fiscal Year 2023/2024 Assessments. Carryover From Prior Year Of $93,355 to be used to reduce Fiscal Year 2024/2025 Assessments.

AMENDED FINAL BUDGET
CENTURY GARDENS AT TAMIAMI COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND (SERIES 2014 - EXPANSION AREA)
FISCAL YEAR 2023/2024 OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	FISCAL YEAR 2023/2024 BUDGET
10/1/23 - 9/30/24	AMENDED FINAL BUDGET
10/1/23 - 9/30/24	YEAR TO DATE ACTUAL
10/1/23 - 9/29/24	
Interest Income	100	21,830	21,795	
NAV Tax Collection	405,688	411,243	411,243	
Total Revenues	$	405,788	$	433,073	$	433,038	
				
EXPENDITURES				
Principal Payments	140,000	140,000	140,000	
Interest Payments	255,350	257,550	257,550	
Bond Redemption	10,438	0	0	

Total Expenditures	
$	405,788	
$	397,550	
$	397,550	
				
Net Excess/ (Shortfall)	$	-	$	35,523	$	35,488	

FUND BALANCE AS OF 9/30/23	
FY 2023/2024 ACTIVITY	
FUND BALANCE AS OF 9/30/24	

$504,506	
$35,523	
$540,029	

Notes
Reserve Fund Balance = $102,961*. Revenue Fund Balance = $437,068*.
Revenue Fund Account Balance To Be Used To Make 11/1/24 Bond Payment Of $267,675 - Principal Payment: $140,000 - Interest Payment: $127,675.
* 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 9/30/24 =	$5,120,000		

AMENDED FINAL BUDGET
CENTURY GARDENS AT TAMIAMI COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND (SERIES 2016 - ORIGINAL UNITS)
FISCAL YEAR 2023/2024 OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	FISCAL YEAR 2023/2024 BUDGET
10/1/23 - 9/30/24	AMENDED FINAL BUDGET
10/1/23 - 9/30/24	YEAR TO DATE ACTUAL
10/1/23 - 9/29/24	
Interest Income (2016)	100	21,240	21,208	
NAV Tax Collection	411,631	417,267	417,267	
Total Revenues	$	411,731	$	438,507	$	438,475	
				
EXPENDITURES				
Principal Payments (2016)	245,000	245,000	245,000	
Interest Payments (2016)	166,200	170,263	170,263	
Bond Redemption	531	0	0	
Total Expenditures	$	411,731	$	415,263	$	415,263	
				
Net Excess/ (Shortfall)	$	-	$	23,244	$	23,212	

FUND BALANCE AS OF 9/30/23	
FY 2023/2024 ACTIVITY	
FUND BALANCE AS OF 9/30/24	

$378,846	
$23,244	
$402,090	

Notes
Reserve Fund Balance = $225,123*. Revenue Fund Balance = $176,967*.
Revenue Fund Account Balance To Be Used To Make 11/1/24 Interest Payment Of $82,069.
* 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 9/30/24 =	$4,095,000		

AMENDED FINAL BUDGET
CENTURY GARDENS AT TAMIAMI COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND (SERIES 2017 - TOWNHOMES)
FISCAL YEAR 2023/2024 OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	FISCAL YEAR 2023/2024 BUDGET
10/1/23 - 9/30/24	AMENDED FINAL BUDGET
10/1/23 - 9/30/24	YEAR TO DATE ACTUAL
10/1/23 - 9/29/24	
Interest Income (2017)	100	2,270	2,253	
NAV Tax Collection	39,905	40,452	40,452	
Total Revenues	$	40,005	$	42,722	$	42,705	
				
EXPENDITURES				
Principal Payments (2017)	14,000	14,000	14,000	
Interest Payments (2017)	25,183	25,419	25,419	
Bond Redemption	822	0	0	
Total Expenditures	$	40,005	$	39,419	$	39,419	
				
Net Excess/ (Shortfall)	$	-	$	3,303	$	3,286	

FUND BALANCE AS OF 9/30/23	
FY 2023/2024 ACTIVITY	
FUND BALANCE AS OF 9/30/24	

$46,776	
$3,303	
$50,079	

Notes
Reserve Fund Balance = $10,195*. Revenue Fund Balance = $39,884*.
Revenue Fund Account Balance To Be Used To Make 12/15/24 Bond Payment Of $26,591 - Principal Payment: $14,000 - Interest Payment: $12,591.
* 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 9/30/24 =	December 2047

$574,000	June 15th & December 15th	

AMENDED FINAL BUDGET
CENTURY GARDENS AT TAMIAMI COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND (SERIES 2018 - CLUBHOUSE)
FISCAL YEAR 2023/2024 OCTOBER 1, 2023 - SEPTEMBER 30, 2024

REVENUES	FISCAL YEAR 2023/2024 BUDGET
10/1/23 - 9/30/24	AMENDED FINAL BUDGET
10/1/23 - 9/30/24	YEAR TO DATE ACTUAL
10/1/23 - 9/29/24	
Interest Income (2018)	100	17,400	17,369	
NAV Tax Collection	287,344	291,276	291,276	
Total Revenues	$	287,444	$	308,676	$	308,645	
				
EXPENDITURES				
Principal Payments (2018)	105,000	105,000	105,000	
Interest Payments (2018)	178,494	180,069	180,069	
Bond Redemption	3,950	0	0	
Total Expenditures	$	287,444	$	285,069	$	285,069	
				
Net Excess/ (Shortfall)	$	-	$	23,607	$	23,576	

FUND BALANCE AS OF 9/30/23	
FY 2023/2024 ACTIVITY	
FUND BALANCE AS OF 9/30/24	

$400,340	
$23,607	
$423,947	

Notes
Reserve Fund Balance = $146,824*. Revenue Fund Balance = $277,123*.
Revenue Fund Account Balance To Be Used To Make 11/1/24 Bond Payment Of $194,247 - Principal Payment: $105,000 - Interest Payment: $89,247.
* 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 9/30/24 =	$4,365,000