Venetian Parc Community Development District

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

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 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	
FISCAL YEAR 2021/2022 BUDGET	
Administrative Assessments	79,719	
Maintenance Assessments	102,117	
Debt Assessments (Area One)	458,173	
Debt Assessments (Area Two)	455,392	
Other Revenue	0	
Interest Income	240	
		
TOTAL REVENUES	$1,095,641	
		
EXPENDITURES		
ADMINISTRATIVE EXPENDITURES		
Supervisor Fees	0	
Payroll Taxes (Employer)	0	
Management	27,876	
Legal	11,000	
Assessment Roll	10,000	
Audit Fees	3,900	
Insurance	6,800	
Legal Advertisements	950	
Miscellaneous	1,100	
Postage	350	
Office Supplies	625	
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	1,000	
TOTAL ADMINISTRATIVE EXPENDITURES	$75,176	
		
MAINTENANCE EXPENDITURES		
Park Maintenance Tract N	20,000	
Field Operations Management	1,320	
Community Entrance Signage Maintenance	5,200	
Street/Roadway Maintenance	5,000	
Electric Power Service/Misc	3,200	
Engineering/Annual Report/Inspections	2,500	
Sidewalk Maintenance (Pressure Cleaning & Milling)	15,000	
HOA Contribution (Palm Tree Fertilization)	5,850	
General Maintenance	3,750	
Maintenance Contingency	29,150	
Storm Preparedness	5,020	
TOTAL MAINTENANCE EXPENDITURES	$95,990	
		
TOTAL EXPENDITURES	$171,166	
		
REVENUES LESS EXPENDITURES	$924,475	
		
Bond Payments - Area One	(430,682)	
Bond Payments - Area Two	(428,069)	
		
BALANCE	$65,724	
		
County Appraiser & Tax Collector Fee	(21,908)	
Discounts For Early Payments	(43,816)	
		
EXCESS/ (SHORTFALL)	$0	
		
Carryover From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$0	

DETAILED FINAL BUDGET
VENETIAN PARC 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	75,071	78,859	79,719	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	48,036	103,124	102,117	Expenditures/.94	
Debt Assessments (Area One)	458,173	458,173	458,173	Bond Payments/.94	
Debt Assessments (Area Two)	457,015	455,392	455,392	Bond Payments/.94	
Other Revenue	5,159	0	0		
Interest Income	416	240	240	Projected At $20 Per Month	
					
TOTAL REVENUES	$1,043,870	$1,095,788	$1,095,641		
					
EXPENDITURES					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	0	0	0	Supervisor Fees	
Payroll Taxes (Employer)	0	0	0	Supervisor Fees * 7.65%	
Management	26,880	27,492	27,876	CPI Adjustment	
Legal	10,787	11,000	11,000	No Change From 2020/2021 Budget	
Assessment Roll	10,000	10,000	10,000	As Per Contract	
Audit Fees	3,700	3,800	3,900	Accepted Amount For 2020/2021 Audit	
Insurance	5,251	6,500	6,800	Insurance Estimate	
Legal Advertisements	1,112	850	950	$100 Increase From 2020/2021 Budget	
Miscellaneous	1,503	1,100	1,100	No Change From 2020/2021 Budget	
Postage	455	325	350	$25 Increase From 2020/2021 Budget	
Office Supplies	662	625	625	No Change From 2020/2021 Budget	
Dues & Subscriptions	175	175	175	No Change From 2020/2021 Budget	
Website Management	2,000	2,000	2,000	No Change From 2020/2021 Budget	
Arbitrage Rebate Fee - Area One	650	650	650	No Change From 2020/2021 Budget	
Arbitrage Rebate Fee - Area Two	650	650	650	No Change From 2020/2021 Budget	
Trustee Fee - Area One	3,500	3,550	3,550	No Change From 2020/2021 Budget	
Trustee Fee - Area Two	3,500	3,550	3,550	No Change From 2020/2021 Budget	
Continuing Disclosure Fee - Area One	350	500	500	No Change From 2020/2021 Budget	
Continuing Disclosure Fee - Area Two	500	500	500	No Change From 2020/2021 Budget	
Administrative Contingency	0	1,100	1,000	Administrative Contingency	
TOTAL ADMINISTRATIVE EXPENDITURES	$71,675	$74,367	$75,176		
					
MAINTENANCE EXPENDITURES					
Park Maintenance Tract N	18,695	20,000	20,000	No Change From 2020/2021 Budget	
Field Operations Management	1,320	1,320	1,320	No Change From 2020/2021 Budget	
Community Entrance Signage Maintenance	6,262	4,200	5,200	$1,000 Increase From 2020/2021 Budget	
Street/Roadway Maintenance	365	5,000	5,000	No Change From 2020/2021 Budget	
Electric Power Service/Misc	1,625	3,200	3,200	No Change From 2020/2021 Budget	
Engineering/Annual Report/Inspections	7,905	1,500	2,500	$1,000 Increase From 2020/2021 Budget	
Sidewalk Maintenance (Pressure Cleaning & Milling)	0	0	15,000	Sidewalk Maintenance (Pressure Cleaning & Milling)	
HOA Contribution (Palm Tree Fertilization)	0	0	5,850	HOA Contribution (Palm Tree Fertilization)	
General Maintenance	1,141	3,750	3,750	No Change From 2020/2021 Budget	
Maintenance Contingency	2,626	52,948	29,150	$23,798 Decrease From 2020/2021 Budget	
Storm Preparedness	0	5,020	5,020	No Change From 2020/2021 Budget	
TOTAL MAINTENANCE EXPENDITURES	$39,939	$96,938	$95,990		
					
TOTAL EXPENDITURES	$111,614	$171,305	$171,166		
					
REVENUES LESS EXPENDITURES	$932,256	$924,483	$924,475		
					
Bond Payments - Area One	(436,740)	(430,682)	(430,682)	2022 P & I Payments Less Earned Interest	
Bond Payments - Area Two	(436,613)	(428,069)	(428,069)	2022 P & I Payments Less Earned Interest	
					
BALANCE	$58,903	$65,732	$65,724		
					
County Appraiser & Tax Collector Fee	(10,002)	(21,910)	(21,908)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(37,417)	(43,822)	(43,816)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$11,484	$0	$0		
					
Carryover From Prior Year	0	0	0	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$11,484	$0	$0		

DETAILED FINAL DEBT SERVICE FUND (AREA ONE) BUDGET
VENETIAN PARC 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	
4,494	
300	
25	
Projected Interest For 2021/2022	

NAV Tax Collection	
436,740	
430,682	
430,682	
Maximum Debt Service Collection	

Total Revenues	
$441,234	
$430,982	
$430,707		

EXPENDITURES					

Principal Payments	
90,000	
100,000	
105,000	
Principal Payment Due In 2022	

Interest Payments	
326,225	
317,825	
311,825	
Interest Payments Due In 2022	

Bond Redemption	
0	
13,157	
13,882	
Estimated Excess Debt Collections	

Total Expenditures	
$416,225	
$430,982	
$430,707		

Excess/ (Shortfall)	
$25,009	
$0	
$0		

Series 2013 Bond Information - Area One

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

Par Amount As Of 1/1/21 =	November 2043

$4,955,000			

DETAILED FINAL DEBT SERVICE FUND (AREA TWO) BUDGET
VENETIAN PARC COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2021/2022
OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	FISCAL YEAR 2018/2019 ACTUAL	FISCAL YEAR 2020/2021 BUDGET	FISCAL YEAR 2021/2022 BUDGET	

COMMENTS	

Interest Income	
6,347	
300	
25	
Projected Interest For 2021/2022	

NAV Tax Collection	
436,613	
428,069	
428,069	
Maximum Debt Service Collection	

Prepaid Bond Collection	
16,915	
0	
0		

Total Revenues	
$459,875	
$428,369	
$428,094		

EXPENDITURES					

Principal Payments	
75,000	
85,000	
90,000	
Principal Payment Due In 2022	

Interest Payments	
341,634	
334,144	
328,725	
Interest Payments Due In 2022	

Bond Redemption	
0	
9,225	
9,369	
Estimated Excess Debt Collections	

Total Expenditures	
$416,634	
$428,369	
$428,094		

Excess/ (Shortfall)	
$43,241	
$0	
$0		

Series 2013 Bond Information - Area Two

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

Par Amount As Of 1/1/21 =	November 2044

$4,765,000			

Venetian Parc Community Development District Assessment Comparison

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

Administrative	
$131.39	
$121.78	
$130.57	
$131.99	
Maintenance	$70.02	$79.53	$170.74	$169.07	
Debt	$1,274.46	$1,274.46	$1,274.46	$1,274.46	
Total For Area One Townhomes	$1,475.87	$1,475.77	$1,575.77	$1,575.52	

Administrative	
$131.39	
$121.78	
$130.57	
$131.99	
Maintenance	$70.02	$79.53	$170.74	$169.07	
Debt	$1,622.34	$1,622.34	$1,622.34	$1,622.34	
Total For Area One Single Family Units	$1,823.75	$1,823.65	$1,923.65	$1,923.40	

Administrative	
$131.39	
$121.78	
$130.57	
$131.99	
Maintenance	$70.02	$79.53	$170.74	$169.07	
Debt	$1,274.46	$1,274.46	$1,274.46	$1,274.46	
Total For Area Two Townhomes	$1,475.87	$1,475.77	$1,575.77	$1,575.52	

Administrative	
$131.39	
$121.78	
$130.57	
$131.99	
Maintenance	$70.02	$79.53	$170.74	$169.07	
Debt	$1,622.34	$1,622.34	$1,622.34	$1,622.34	
Total For Area Two Single Family Units	$1,823.75	$1,823.65	$1,923.65	$1,923.40	

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

Community Information:			
Area Two Single Family Homes Information	
Area One Townhomes	96		Total Units	211	
Area One Single Family Units	207		Prepayments	1	
Total Area One Units	303		Billed For Debt	210	
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	

5/16/2021 10:45 AM