Summerville Community Development District

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

CONTENTS

AMENDED FINAL OPERATING FUND BUDGET

AMENDED FINAL DEBT SERVICE FUND BUDGET

AMENDED FINAL BUDGET
SUMMERVILLE COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2021/2022 OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	FISCAL YEAR 2021/2022 BUDGET 10/1/21 - 9/30/22	AMENDED FINAL BUDGET
10/1/21 - 9/30/22	YEAR TO DATE ACTUAL
10/1/21 - 8/31/22	
ADMINISTRATIVE ASSESSMENTS	52,870	52,955	52,955	
MAINTENANCE ASSESSMENTS	52,043	51,862	51,862	
DEBT ASSESSMENTS	197,090	196,393	196,393	
OTHER REVENUES	0	0	0	
INTEREST INCOME	360	15	14	
TOTAL REVENUES	$	302,363	$	301,225	$	301,224	
				
EXPENDITURES				
ADMINISTRATIVE EXPENDITURES				
SUPERVISOR FEES	5,000	0	0	
PAYROLL TAXES (EMPLOYER)	383	0	0	
MANAGEMENT	27,360	27,360	25,080	
SECRETARIAL	4,200	4,200	3,850	
LEGAL	9,000	9,500	8,295	
ASSESSMENT ROLL	7,500	7,500	0	
AUDIT FEES	3,700	3,700	3,700	
INSURANCE	6,250	5,706	5,706	
LEGAL ADVERTISING	820	600	270	
MISCELLANEOUS	825	900	739	
POSTAGE	150	250	219	
OFFICE SUPPLIES	400	450	402	
DUES & SUBSCRIPTIONS	175	175	175	
TRUSTEE FEES	3,000	3,500	3,500	
CONTINUING DISCLOSURE FEE	500	500	0	
WEBSITE MANAGEMENT	2,000	2,000	1,833	
ADMINISTRATIVE CONTINGENCY	1,200	1,200	0	
TOTAL ADMINISTRATIVE EXPENDITURES	$	72,463	$	67,541	$	53,769	
				
MAINTENANCE EXPENDITURES				
LAWN MAINTENANCE/IRRIGATION/OPEN TRACTS	6,000	24,000	18,719	
FIELD OPERATIONS MANAGEMENT	720	750	660	
ENGINEERING/ANNUAL REPORT/INSPECTIONS	1,200	2,000	1,125	
STREET LIGHTS	12,000	6,000	0	
PRESSURE CLEANING	14,000	14,000	9,754	
MAINTENANCE CONTINGENCY (SIDEWALK SLABS)	0	15,150	15,150	
HOA CONTRIBUTION	15,000	15,000	11,250	
TOTAL MAINTENANCE EXPENDITURES	$	48,920	$	76,900	$	56,658	
				
TOTAL EXPENDITURES	$	121,383	$	144,441	$	110,427	
				
REVENUES LESS EXPENDITURES	$	180,980	$	156,784	$	190,797	
				
BOND PAYMENTS	(185,265)	(186,968)	(186,968)	
				
BALANCE	$	(4,285)	$	(30,184)	$	3,829	
				
COUNTY APPRAISER & TAX COLLECTOR FEE	(6,040)	(2,896)	(2,896)	
DISCOUNTS FOR EARLY PAYMENTS	(12,080)	(11,550)	(11,550)	
				
EXCESS/ (SHORTFALL)	$	(22,405)	$	(44,630)	$	(10,617)	
				
CARRYOVER FROM PRIOR YEAR	22,405	22,405	0	
				
Net Excess/ (Shortfall)	$	-	$	(22,225)	$	(10,617)	

FUND BALANCE AS OF 9/30/21	
FY 2021/2022 ACTIVITY	
FUND BALANCE AS OF 9/30/22	

$101,394	
($44,630)	
$56,764	

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

9/22/2022 6:09 PM	I

AMENDED FINAL BUDGET
SUMMERVILLE COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND
FISCAL YEAR 2021/2022 OCTOBER 1, 2021 - SEPTEMBER 30, 2022

REVENUES	FISCAL YEAR 2021/2022 BUDGET 10/1/21 - 9/30/22	AMENDED FINAL BUDGET
10/1/21 - 9/30/22	YEAR TO DATE ACTUAL
10/1/21 - 8/31/22	
Interest Income	25	280	253	
NAV Tax Collection	185,265	186,968	186,968	
				
Total Revenues	$	185,290	$	187,248	$	187,221	
				
EXPENDITURES				
Principal Payments	109,000	109,000	109,000	
Interest Payments	72,640	74,275	74,275	
Bond Redemption	3,650	0	0	
				
Total Expenditures	$	185,290	$	183,275	$	183,275	
				
Excess/ (Shortfall)	$	-	$	3,973	$	3,946	

FUND BALANCE AS OF 9/30/21	
FY 2021/2022 ACTIVITY	
FUND BALANCE AS OF 9/30/22	

$85,094	
$3,973	
$89,067	

Notes
Reserve Fund Balance = $5,013* Revenue Fund Balance = $84,054*.
Revenue Fund Balance To Be Used To Make 11/1/2022 Interest Payment Of $35,503.
* 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 8/31/22 =	$1,967,000		

9/22/2022 6:09 PM	II