Summerville Community Development District

Amended Final Budget For Fiscal Year 2018/2019
October 1, 2018 - September 30, 2019

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET

AMENDED FINAL BUDGET
SUMMERVILLE COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2018/2019 OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	FISCAL YEAR 2018/2019 BUDGET 10/1/18 - 9/30/19	AMENDED FINAL BUDGET
10/1/18 - 9/30/19	YEAR TO DATE ACTUAL
10/1/18- 9/29/19	
ADMINISTRATIVE ASSESSMENTS	56,124	56,324	56,324	
MAINTENANCE ASSESSMENTS	9,702	9,703	9,703	
DEBT ASSESSMENTS	236,263	236,263	236,263	
OTHER REVENUES	0	0	0	
INTEREST INCOME	180	500	487	
TOTAL REVENUES	$	302,269	$	302,790	$	302,777	
				
EXPENDITURES				
ADMINISTRATIVE EXPENDITURES				
SUPERVISOR FEES	0	0	0	
PAYROLL TAXES (EMPLOYER)	0	0	0	
MANAGEMENT	25,896	25,896	25,896	
SECRETARIAL	4,200	4,200	4,200	
LEGAL	9,000	8,000	6,073	
ASSESSMENT ROLL	7,500	7,500	7,500	
AUDIT FEES	3,800	3,400	3,400	
INSURANCE	6,500	5,000	5,000	
LEGAL ADVERTISING	720	720	553	
MISCELLANEOUS	900	600	279	
POSTAGE	150	150	145	
OFFICE SUPPLIES	400	400	358	
DUES & SUBSCRIPTIONS	175	175	175	
TRUSTEE FEES	3,000	3,000	3,000	
CONTINUING DISCLOSURE FEE	500	500	500	
WEBSITE MANAGEMENT	1,500	1,500	1,500	
ADMINISTRATIVE CONTINGENCY	1,200	500	0	
				
TOTAL ADMINISTRATIVE EXPENDITURES	$	65,441	$	61,541	$	58,579	
				
MAINTENANCE EXPENDITURES				
OPEN SPACE TRACT MAINTENANCE	4,800	500	0	
FIELD OPERATIONS MANAGEMENT	720	720	720	
ENGINEERING/ANNUAL REPORT/INSPECTIONS	1,200	2,050	2,050	
MAINTENANCE/CONTINGENCY	2,400	9,600	1,125	
				
TOTAL MAINTENANCE EXPENDITURES	$	9,120	$	12,870	$	3,895	
				
TOTAL EXPENDITURES	$	74,561	$	74,411	$	62,474	
				
REVENUES LESS EXPENDITURES	$	227,708	$	228,379	$	240,303	
				
BOND PAYMENTS	(222,088)	(224,824)	(224,824)	
				
BALANCE	$	5,620	$	3,555	$	15,479	
				
COUNTY APPRAISER & TAX COLLECTOR FEE	(6,042)	(2,903)	(2,903)	
DISCOUNTS FOR EARLY PAYMENTS	(12,083)	(11,838)	(11,838)	
				
EXCESS/ (SHORTFALL)	$	(12,505)	$	(11,186)	$	738	
				
CARRYOVER FROM PRIOR YEAR	12,505	12,505	0	
				
Net Excess/ (Shortfall)	$	-	$	1,319	$	738	

FUND BALANCE AS OF 9/30/18	
FY 2018/2019 ACTIVITY	
FUND BALANCE AS OF 9/30/19	

$162,918	
($11,186)	
$151,732	

Notes
$12,505 Of Fund Balance Was Used To Reduce 2018/2019 Assessments.
$25,530 Of Fund Balance To Be Used To Reduce 2019/2020 Assessments.

10/14/2019 11:36 AM	I

AMENDED FINAL BUDGET
SUMMERVILLE COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND
FISCAL YEAR 2018/2019 OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	FISCAL YEAR 2018/2019 BUDGET 10/1/17 - 9/30/19	AMENDED FINAL BUDGET
10/1/17 - 9/30/19	YEAR TO DATE ACTUAL
10/1/17- 9/29/19	
Interest Income	100	5,955	5,945	
NAV Tax Collection	222,088	224,711	224,711	
Total Revenues	$	222,188	$	230,666	$	230,656	
				
EXPENDITURES				
Principal Payments	85,000	85,000	85,000	
Extraordinary Principal Payments	0	10,000	10,000	
Interest Payments	137,088	139,150	139,150	
Transfer To Construction Fund	100	5,500	3,478	
Total Expenditures	$	222,188	$	239,650	$	237,628	
				
Excess/ (Shortfall)	$	-	$	(8,984)	$	(6,972)	

FUND BALANCE AS OF 9/30/18	
FY 2018/2019 ACTIVITY	
FUND BALANCE AS OF 9/30/19	

$272,721	
($8,984)	
$263,737	

Notes
Reserve Fund Balance = $174,662* Revenue Fund Balance = $89,075*.
Revenue Fund Balance To Be Used To Make 11/1/2019 Interest Payment Of $67,100.
* Approximate Amounts

Series 2006 Bond Information	
Original Par Amount =	$3,335,000	Annual Principal Payments Due:	
Interest Rate =	5.50%	May 1st	
Issue Date =	January 2006	Annual Interest Payments Due:	
Maturity Date =

Par Amount As Of 9/30/19 =	May 2036

$2,440,000	May 1st & November 1st	

10/14/2019 11:36 AM	II