Venetian Parc Community Development District

Final Budget For Fiscal Year 2019/2020
October 1, 2019 - September 30, 2020

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET (AREA ONE) IV         DETAILED FINAL DEBT SERVICE FUND BUDGET (AREA TWO)  V	ASSESSMENT COMPARISON

FINAL BUDGET
VENETIAN PARC COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2019/2020 BUDGET	
Administrative Assessments	73,553	
Maintenance Assessments	48,031	
Debt Assessments (Area One)	458,173	
Debt Assessments (Area Two)	457,015	
Interest Income	240	
		
TOTAL REVENUES	$1,037,012	
		
EXPENDITURES		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	0	
Payroll Taxes (Employer)	0	
Management	26,880	
Legal	10,500	
Assessment Roll	10,000	
Audit Fees	3,700	
Insurance	7,500	
Legal Advertisements	850	
Miscellaneous	1,200	
Postage	325	
Office Supplies	650	
Dues & Subscriptions	175	
Website Management	2,000	
Arbitrage Rebate Fee - Area One	650	
Arbitrage Rebate Fee - Area Two	650	
Trustee Fee - Area One	3,550	
Trustee Fee - Area Two	3,550	
Continuing Disclosure Fee - Area One	500	
Continuing Disclosure Fee - Area Two	500	
Administrative Contingency	1,200	
TOTAL ADMINISTRATIVE EXPENDITURES	$74,380	
		
MAINTENANCE EXPENDITURES		
Park Maintenance Tract N	17,160	
Field Operations Management	1,320	
Community Entrance Signage Maintenance	4,200	
Street/Roadway Maintenance	2,600	
Electric Power Service/Misc	2,100	
Engineering/Annual Report/Inspections	1,500	
Irrigation System Maintenance & Upkeep	0	
Mulch & Other Ground Cover/Annuals	0	
Tree/Plant Replacement/Pruning	0	
Tract Lawn & Landscape Services	0	
Tract Lawn Fertilizer & Pest Control	0	
General Maintenance	3,750	
Maintenance Contingency	7,500	
Storm Preparedness	5,020	
TOTAL MAINTENANCE EXPENDITURES	$45,150	
		
TOTAL EXPENDITURES	$119,530	
		
REVENUES LESS EXPENDITURES	$917,482	
		
Bond Payments - Area One	(430,682)	
Bond Payments - Area Two	(429,594)	
		
BALANCE	$57,206	
		
County Appraiser & Tax Collector Fee	(20,735)	
Discounts For Early Payments	(41,471)	
		
EXCESS/ (SHORTFALL)	($5,000)	
		
Carryover From Prior Year	5,000	
		
NET EXCESS/ (SHORTFALL)	$0	

DETAILED FINAL BUDGET
VENETIAN PARC COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2017/2018 ACTUAL	
FISCAL YEAR 2018/2019 BUDGET	
FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	
Administrative Assessments	61,708	79,359	73,553	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	32,447	42,287	48,031	Expenditures/.94	
Debt Assessments (Area One)	458,173	458,173	458,173	Bond Payments/.94	
Debt Assessments (Area Two)	457,015	457,015	457,015	Bond Payments/.94	
Interest Income	268	240	240	Projected At $20 Per Month	
					
TOTAL REVENUES	$1,009,611	$1,037,074	$1,037,012		
					
EXPENDITURES					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	0	0	0	Supervisor Fees	
Payroll Taxes (Employer)	0	0	0	Supervisor Fees * 7.65%	
Management	25,848	26,388	26,880	CPI Adjustment	
Legal	7,048	11,000	10,500	$500 Decrease From 2018/2019 Budget	
Assessment Roll	10,000	10,000	10,000	As Per Contract	
Audit Fees	3,900	4,000	3,700	Accepted Amount For 2018/2019 Audit	
Insurance	5,750	8,400	7,500	Insurance Estimate	
Legal Advertisements	618	850	850	No Change From 2018/2019 Budget	
Miscellaneous	652	1,200	1,200	No Change From 2018/2019 Budget	
Postage	414	325	325	No Change From 2018/2019 Budget	
Office Supplies	776	600	650	$50 Increase From 2018/2019 Budget	
Dues & Subscriptions	175	175	175	No Change From 2018/2019 Budget	
Website Management	1,500	1,500	2,000	$500 Increase From 2018/2019 Budget	
Arbitrage Rebate Fee - Area One	650	650	650	No Change From 2018/2019 Budget	
Arbitrage Rebate Fee - Area Two	650	650	650	No Change From 2018/2019 Budget	
Trustee Fee - Area One	3,500	3,600	3,550	$50 Decrease From 2018/2019 Budget	
Trustee Fee - Area Two	3,500	3,600	3,550	$50 Decrease From 2018/2019 Budget	
Continuing Disclosure Fee - Area One	500	500	500	No Change From 2018/2019 Budget	
Continuing Disclosure Fee - Area Two	500	500	500	No Change From 2018/2019 Budget	
Administrative Contingency	0	900	1,200	Administrative Contingency	
TOTAL ADMINISTRATIVE EXPENDITURES	$65,981	$74,838	$74,380		
					
MAINTENANCE EXPENDITURES					
Park Maintenance Tract N	14,293	16,200	17,160	$960 Increase From 2018/2019 Budget	
Field Operations Management	750	900	1,320	$420 Increase From 2018/2019 Budget	
Community Entrance Signage Maintenance	0	4,200	4,200	No Change From 2018/2019 Budget	
Street/Roadway Maintenance	0	2,600	2,600	No Change From 2018/2019 Budget	
Electric Power Service/Misc	1,518	2,100	2,100	No Change From 2018/2019 Budget	
Engineering/Annual Report/Inspections	970	1,500	1,500	No Change From 2018/2019 Budget	
Irrigation System Maintenance & Upkeep	0	0	0		
Mulch & Other Ground Cover/Annuals	0	0	0		
Tree/Plant Replacement/Pruning	0	0	0		
Tract Lawn & Landscape Services	0	0	0		
Tract Lawn Fertilizer & Pest Control	0	0	0		
General Maintenance	0	3,750	3,750	No Change From 2018/2019 Budget	
Maintenance Contingency	0	2,500	7,500	$5,000 Increase From 2018/2019 Budget	
Storm Preparedness	0	6,000	5,020	$980 Decrease From 2018/2019 Budget	
TOTAL MAINTENANCE EXPENDITURES	$17,531	$39,750	$45,150		
					
TOTAL EXPENDITURES	$83,512	$114,588	$119,530		
					
REVENUES LESS EXPENDITURES	$926,099	$922,486	$917,482		
					
Bond Payments - Area One	(436,262)	(430,682)	(430,682)	2020 P & I Payments Less Earned Interest	
Bond Payments - Area Two	(435,517)	(429,594)	(429,594)	2020 P & I Payments Less Earned Interest	
					
BALANCE	$54,320	$62,210	$57,206		
					
County Appraiser & Tax Collector Fee	(9,708)	(20,737)	(20,735)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(38,118)	(41,473)	(41,471)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$6,494	$0	($5,000)		
					
Carryover From Prior Year	0	0	5,000	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$6,494	$0	$0		

DETAILED FINAL DEBT SERVICE FUND (AREA ONE) BUDGET
VENETIAN PARC COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2017/2018 ACTUAL	FISCAL YEAR 2018/2019 BUDGET	FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	

Interest Income	
6,957	
200	
300	
Projected Interest For 2019/2020	

NAV Tax Collection	
436,262	
430,682	
430,682	
Maximum Debt Service Collection	

Total Revenues	
$443,219	
$430,882	
$430,982		

EXPENDITURES					

Principal Payments	
80,000	
90,000	
90,000	
Principal Payment Due In 2020	

Interest Payments	
336,425	
328,925	
328,925	
Interest Payments Due In 2020	

Bond Redemption	
0	
11,957	
12,057	
Estimated Excess Debt Collections	

Total Expenditures	
$416,425	
$430,882	
$430,982		

Excess/ (Shortfall)	
$26,794	
$0	
$0		

Series 2013 Bond Information - Area One

Original Par Amount =	$5,515,000	Annual Principal Payments Due =	November 1st	
Interest Rate = Issue Date = Maturity Date =	6.00% - 6.50%
October 2013
November 2043	Annual Interest Payments Due =	May 1st & November 1st	

Par Amount As Of 1/1/19 =	
$5,140,000			

DETAILED FINAL DEBT SERVICE FUND (AREA TWO) BUDGET
VENETIAN PARC COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2017/2018 ACTUAL	FISCAL YEAR 2018/2019 BUDGET	FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	

Interest Income	
9,611	
200	
300	
Projected Interest For 2019/2020	

NAV Tax Collection	
435,517	
429,594	
429,594	
Maximum Debt Service Collection	

Total Revenues	
$445,128	
$429,794	
$429,894		

EXPENDITURES					

Principal Payments	
65,000	
75,000	
80,000	
Principal Payment Due In 2020	

Interest Payments	
350,559	
344,025	
339,244	
Interest Payments Due In 2020	

Bond Redemption	
0	
10,769	
10,650	
Estimated Excess Debt Collections	

Total Expenditures	
$415,559	
$429,794	
$429,894		

Excess/ (Shortfall)	
$29,569	
$0	
$0		

Series 2013 Bond Information - Area Two

Original Par Amount =	$5,175,000	Annual Principal Payments Due =	November 1st	
Interest Rate = Issue Date = Maturity Date =	6.375% - 7.125%
October 2013
November 2044	Annual Interest Payments Due =	May 1st & November 1st	
Par Amount As Of 1/1/19 =	$4,920,000			

Venetian Parc Community Development District Assessment Comparison

	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
	2016/2017	2017/2018	2018/2019	2019/2020	
	Assessment	Assessment	Assessment	Projected Assessment	
	  Before Discount*	  Before Discount*	  Before Discount*	 	Before Discount*		

Administrative	
$100.61	
$100.46	
$131.39	
$121.78	
Maintenance	$53.72	$53.72	$70.02	$79.53	
Debt	$1,274.46	$1,274.46	$1,274.46	$1,274.46	
Total For Area One Townhomes	$1,428.79	$1,428.64	$1,475.87	$1,475.77	

Administrative	
$100.61	
$100.46	
$131.39	
$121.78	
Maintenance	$53.72	$53.72	$70.02	$79.53	
Debt	$1,622.34	$1,622.34	$1,622.34	$1,622.34	
Total For Area One Single Family Units	$1,776.67	$1,776.52	$1,823.75	$1,823.65	

Administrative	
$100.61	
$100.46	
$131.39	
$121.78	
Maintenance	$53.72	$53.72	$70.02	$79.53	
Debt	$1,274.46	$1,274.46	$1,274.46	$1,274.46	
Total For Area Two Townhomes	$1,428.79	$1,428.64	$1,475.87	$1,475.77	

Administrative	
$100.61	
$100.46	
$131.39	
$121.78	
Maintenance	$53.72	$53.72	$70.02	$79.53	
Debt	$1,622.34	$1,622.34	$1,622.34	$1,622.34	
Total For Area Two Single Family Units	$1,776.67	$1,776.52	$1,823.75	$1,823.65	

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

Community Information:	

Area One Townhomes	96		
Area One Single Family Units	207			
Total Area One Units	303			

Area Two Townhomes	
90			
Area Two Single Family Units	211			
Total Area Two Units	301			

Total Area One Units	
303			
Total Area Two Units	301			
Total Units	604			
		V	

7/12/2019 4:30 PM