Summerville Community Development District

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

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET

AMENDED FINAL BUDGET
SUMMERVILLE COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2019/2020 OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2019/2020 BUDGET 10/1/19 - 9/30/20	AMENDED FINAL BUDGET
10/1/19 - 9/30/20	YEAR TO DATE ACTUAL
10/1/19- 9/29/20	
ADMINISTRATIVE ASSESSMENTS	42,875	43,359	43,359	
MAINTENANCE ASSESSMENTS	23,298	23,928	23,298	
DEBT ASSESSMENTS	235,878	235,878	235,878	
OTHER REVENUES	0	3,277	3,277	
INTEREST INCOME	300	460	455	
TOTAL REVENUES	$	302,351	$	306,902	$	306,267	
				
EXPENDITURES				
ADMINISTRATIVE EXPENDITURES				
SUPERVISOR FEES	0	0	0	
PAYROLL TAXES (EMPLOYER)	0	0	0	
MANAGEMENT	26,388	26,388	26,388	
SECRETARIAL	4,200	4,200	4,200	
LEGAL	9,000	10,600	9,598	
ASSESSMENT ROLL	7,500	7,500	7,500	
AUDIT FEES	3,500	3,500	3,500	
INSURANCE	6,500	5,251	5,251	
LEGAL ADVERTISING	720	1,650	1,354	
MISCELLANEOUS	900	500	96	
POSTAGE	150	95	91	
OFFICE SUPPLIES	400	355	346	
DUES & SUBSCRIPTIONS	175	175	175	
TRUSTEE FEES	3,000	3,000	3,000	
CONTINUING DISCLOSURE FEE	500	500	500	
WEBSITE MANAGEMENT	2,000	2,000	2,000	
ADMINISTRATIVE CONTINGENCY	1,200	500	0	
TOTAL ADMINISTRATIVE EXPENDITURES	$	66,133	$	66,214	$	63,999	
				
MAINTENANCE EXPENDITURES				
OPEN SPACE TRACT MAINTENANCE	4,980	500	0	
FIELD OPERATIONS MANAGEMENT	720	720	720	
ENGINEERING/ANNUAL REPORT/INSPECTIONS	1,200	3,500	2,450	
MAINTENANCE/CONTINGENCY	15,000	15,000	10,222	
LANDSCAPE MAINTENANCE/HOA CONTRIBUTION	0	15,000	11,250	
TOTAL MAINTENANCE EXPENDITURES	$	21,900	$	34,720	$	24,642	
				
TOTAL EXPENDITURES	$	88,033	$	100,934	$	88,641	
				
REVENUES LESS EXPENDITURES	$	214,318	$	205,968	$	217,626	
				
BOND PAYMENTS	(221,725)	(224,537)	(224,537)	
				
BALANCE	$	(7,407)	$	(18,569)	$	(6,911)	
				
COUNTY APPRAISER & TAX COLLECTOR FEE	(6,041)	(2,908)	(2,908)	
DISCOUNTS FOR EARLY PAYMENTS	(12,082)	(11,584)	(11,584)	
				
EXCESS/ (SHORTFALL)	$	(25,530)	$	(33,061)	$	(21,403)	
				
CARRYOVER FROM PRIOR YEAR	25,530	25,530	0	
				
Net Excess/ (Shortfall)	$	-	$	(7,531)	$	(21,403)	

FUND BALANCE AS OF 9/30/19	
FY 2019/2020 ACTIVITY	
FUND BALANCE AS OF 9/30/20	

$162,610	
($33,061)	
$129,549	

Notes
$25,530 Of Fund Balance Was Used To Reduce 2019/2020 Assessments.
$32,190 Of Fund Balance To Be Used To Reduce 2020/2021 Assessments.

10/16/2020 8:32 AM	I

AMENDED FINAL BUDGET
SUMMERVILLE COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND
FISCAL YEAR 2019/2020 OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2019/2020 BUDGET 10/1/19 - 9/30/20	AMENDED FINAL BUDGET
10/1/19 - 9/30/20	YEAR TO DATE ACTUAL
10/1/19- 9/29/20	
Interest Income	200	2,495	2,495	
NAV Tax Collection	221,725	224,537	224,537	
Total Revenues	$	221,925	$	227,032	$	227,032	
				
EXPENDITURES				
Principal Payments	90,000	90,000	90,000	
Extraordinary Principal Payments	0	0	0	
Interest Payments	131,725	134,200	134,200	
Transfer To Construction Fund	200	8,065	8,065	
Total Expenditures	$	221,925	$	232,265	$	232,265	
				
Excess/ (Shortfall)	$	-	$	(5,233)	$	(5,233)	

FUND BALANCE AS OF 9/30/19	
FY 2019/2020 ACTIVITY	
FUND BALANCE AS OF 9/30/20	

$265,904	
($5,233)	
$260,671	

Notes
Reserve Fund Balance = $168,116* Revenue Fund Balance = $92,555*.
Revenue Fund Balance To Be Used To Make 11/1/2020 Interest Payment Of $64,625.
* 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 9/30/20 =	May 2036

$2,350,000	May 1st & November 1st	

10/16/2020 8:32 AM	II