Summerville Community Development District

Amended Final Budget For Fiscal Year 2020/2021
October 1, 2020 - September 30, 2021

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET

AMENDED FINAL BUDGET
SUMMERVILLE COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2020/2021 OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2020/2021 BUDGET 10/1/20 - 9/30/21	AMENDED FINAL BUDGET
10/1/20 - 9/30/21	YEAR TO DATE ACTUAL
10/1/20 - 8/31/21	
ADMINISTRATIVE ASSESSMENTS	41,878	42,225	42,225	
MAINTENANCE ASSESSMENTS	24,383	24,383	24,383	
DEBT ASSESSMENTS	235,785	235,785	235,785	
OTHER REVENUES	0	0	0	
INTEREST INCOME	360	350	346	
TOTAL REVENUES	$	302,406	$	302,743	$	302,739	
				
EXPENDITURES				
ADMINISTRATIVE EXPENDITURES				
SUPERVISOR FEES	5,000	0	0	
PAYROLL TAXES (EMPLOYER)	383	0	0	
MANAGEMENT	26,988	26,988	24,739	
SECRETARIAL	4,200	4,200	3,850	
LEGAL	9,000	11,500	9,483	
ASSESSMENT ROLL	7,500	7,500	0	
AUDIT FEES	3,600	3,600	3,600	
INSURANCE	6,250	5,513	5,513	
LEGAL ADVERTISING	720	900	742	
MISCELLANEOUS	850	850	555	
POSTAGE	150	360	338	
OFFICE SUPPLIES	400	300	267	
DUES & SUBSCRIPTIONS	175	175	175	
TRUSTEE FEES	3,000	3,000	0	
CONTINUING DISCLOSURE FEE	500	500	0	
WEBSITE MANAGEMENT	2,000	2,000	1,834	
ADMINISTRATIVE CONTINGENCY	1,200	500	0	
METHODOLOGY REPORT	0	6,500	6,500	
TOTAL ADMINISTRATIVE EXPENDITURES	$	71,916	$	74,386	$	57,596	
				
MAINTENANCE EXPENDITURES				
LAWN MAINTENANCE/IRRIGATION/OPEN TRACTS	6,000	9,000	7,970	
FIELD OPERATIONS MANAGEMENT	720	720	660	
ENGINEERING/ANNUAL REPORT/INSPECTIONS	1,200	5,200	3,735	
ENGINEERING - EXTRAORDINARY	0	6,000	6,000	
HOA CONTRIBUTION	15,000	15,530	11,780	
TOTAL MAINTENANCE EXPENDITURES	$	22,920	$	36,450	$	30,145	
				
TOTAL EXPENDITURES	$	94,836	$	110,836	$	87,741	
				
REVENUES LESS EXPENDITURES	$	207,570	$	191,907	$	214,998	
				
BOND PAYMENTS	(221,638)	(224,567)	(224,567)	
				
BALANCE	$	(14,068)	$	(32,660)	$	(9,569)	
				
COUNTY APPRAISER & TAX COLLECTOR FEE	(6,040)	(2,909)	(2,909)	
DISCOUNTS FOR EARLY PAYMENTS	(12,082)	(11,465)	(11,465)	
				
EXCESS/ (SHORTFALL)	$	(32,190)	$	(47,034)	$	(23,943)	
				
CARRYOVER FROM PRIOR YEAR	32,190	32,190	0	
				
Net Excess/ (Shortfall)	$	-	$	(14,844)	$	(23,943)	

FUND BALANCE AS OF 9/30/20	
FY 2020/2021 ACTIVITY	
FUND BALANCE AS OF 9/30/21	

$140,839	
($47,034)	
$93,805	

Notes
$32,190 Of Fund Balance Was Used To Reduce 2020/2021 Assessments.
$22,405 Of Fund Balance To Be Used To Reduce 2021/2022 Assessments.

10/6/2021 9:56 AM	I

AMENDED FINAL BUDGET
SUMMERVILLE COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND
FISCAL YEAR 2020/2021 OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2020/2021 BUDGET 10/1/20 - 9/30/21	AMENDED FINAL BUDGET
10/1/20 - 9/30/21	YEAR TO DATE ACTUAL
10/1/20 - 8/31/21	
Interest Income	200	19	19	
NAV Tax Collection	221,638	224,567	224,567	
Transfer From Construction Fund	0	61,129	61,129	
Bond Refunding Proceeds	0	2,193,000	2,193,000	
Refunding Premium	0	80,831	80,831	
Total Revenues	$	221,838	$	2,559,546	$	2,559,546	
				
EXPENDITURES				
Principal Payments (2006)	95,000	2,350,000	2,350,000	
Principal Payments (2021)	0	117,000	117,000	
Interest Payments (2006)	126,638	82,935	82,935	
Interest Payments (2021)	0	28,089	28,089	
Transfer To Construction Fund	200	6,207	6,207	
Cost Of Bond Refunding Issuance	0	150,895	150,895	
Total Expenditures	$	221,838	$	2,735,126	$	2,735,126	
				
Excess/ (Shortfall)	$	-	$	(175,580)	$	(175,580)	

FUND BALANCE AS OF 9/30/20	
FY 2020/2021 ACTIVITY	
FUND BALANCE AS OF 9/30/21	

$260,673	
($175,580)	
$85,093	

Notes
Reserve Fund Balance = $5,000* Revenue Fund Balance = $80,093*.
Revenue Fund Balance To Be Used To Make 11/1/2021 Interest Payment Of $37,138.
* Approximate Amounts

Series 2020 Bond Refunding Information
Original Par Amount =	$2,193,000	Annual Principal Payments Due:	
Interest Rate =	3.0% - 4.00%	May 1st	
Issue Date =	December 2020	Annual Interest Payments Due:	
Maturity Date =	May 2036	May 1st & November 1st	
Par Amount As Of 8/31/21 =	$2,076,000		

10/6/2021 9:56 AM	II