Summerville Community Development District

Amended Final Budget For Fiscal Year 2024/2025
October 1, 2024 - September 30, 2025

CONTENTS

I

AMENDED FINAL OPERATING FUND BUDGET

II

AMENDED FINAL DEBT SERVICE FUND BUDGET

AMENDED FINAL BUDGET
SUMMERVILLE COMMUNITY DEVELOPMENT DISTRICT OPERATING FUND
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

Notes
$800 Of Fund Balance To Be Used To Reduce 2025/2026 Assessments.

I

8/21/2025 11:30 AM

$221,118

$2,963

$224,081

FUND BALANCE AS OF 9/30/24

FY 2024/2025 ACTIVITY

FUND BALANCE AS OF 9/30/25

REVENUES

FISCAL YEAR 2024/2025 BUDGET 10/1/24 - 9/30/25

AMENDED FINAL BUDGET
10/1/24 - 9/30/25

YEAR TO DATE ACTUAL
10/1/24 - 8/31/25

ADMINISTRATIVE ASSESSMENTS

82,306

83,642

83,642

MAINTENANCE ASSESSMENTS

102,998

103,825

103,825

DEBT ASSESSMENTS

197,090

198,674

198,674

OTHER REVENUES

0

0

0

INTEREST INCOME

420

7,000

6,532

TOTAL REVENUES

$	382,814

$	393,141

$	392,673

EXPENDITURES

ADMINISTRATIVE EXPENDITURES

SUPERVISOR FEES

5,000

2,600

1,600

PAYROLL TAXES (EMPLOYER)

383

400

320

MANAGEMENT

29,880

29,880

27,390

SECRETARIAL

4,200

4,200

3,850

LEGAL

10,000

10,000

6,648

ASSESSMENT ROLL

7,500

7,500

0

AUDIT FEES

3,500

3,500

3,500

INSURANCE

7,200

6,858

6,858

LEGAL ADVERTISING

2,000

2,000

0

MISCELLANEOUS

800

1,750

1,354

POSTAGE

275

175

151

OFFICE SUPPLIES

425

375

314

DUES & SUBSCRIPTIONS

175

175

175

TRUSTEE FEES

3,500

3,500

3,500

CONTINUING DISCLOSURE FEE

350

350

0

WEBSITE MANAGEMENT

2,000

2,000

1,832

ADMINISTRATIVE CONTINGENCY

600

600

0

TOTAL ADMINISTRATIVE EXPENDITURES

$	77,788

$	75,863

$	57,492

MAINTENANCE EXPENDITURES

FIELD OPERATIONS MANAGEMENT

720

720

660

ENGINEERING/ANNUAL REPORT/INSPECTIONS

2,400

2,400

1,310

PRESSURE CLEANING

9,498

8,587

8,587

SIDEWALKS (MILLING & REPLACEMENT)

7,000

5,000

2,000

HOA CONTRIBUTION - STREET LIGHTS

16,200

26,500

16,474

HOA CONTRIBUTION - LANDSCAPING

58,000

58,000

43,500

MAINTENANCE CONTINGENCY

3,000

5,500

3,382

TOTAL MAINTENANCE EXPENDITURES

$	96,818

$	106,707

$	75,913

TOTAL EXPENDITURES

$	174,606

$	182,570

$	133,405

REVENUES LESS EXPENDITURES

$	208,208

$	210,571

$	259,268

BOND PAYMENTS

(185,265)

(189,174)

(189,174)

BALANCE

$	22,943

$	21,397

$	70,094

COUNTY APPRAISER & TAX COLLECTOR FEE

(7,647)

(3,709)

(3,709)

DISCOUNTS FOR EARLY PAYMENTS

(15,296)

(14,725)

(14,725)

EXCESS/ (SHORTFALL)

$	-

$	2,963

$	51,660

CARRYOVER FROM PRIOR YEAR

0

0

0

Net Excess/ (Shortfall)

$	-

$	2,963

$	51,660

AMENDED FINAL BUDGET
SUMMERVILLE COMMUNITY DEVELOPMENT DISTRICT DEBT SERVICE FUND
FISCAL YEAR 2024/2025 OCTOBER 1, 2024 - SEPTEMBER 30, 2025

Notes
Reserve Fund Balance = $5,089*. Revenue Fund Balance = $103,780*.
Revenue Fund Balance To Be Used To Make 11/1/2025 Interest Payment Of $30,178.
* Approximate Amounts

Series 2020 Bond Refunding Information

Original Par Amount = Interest Rate =
Issue Date = Maturity Date =

$2,193,000 3.0% - 4.00%
December 2020
May 2036

Annual Principal Payments Due: May 1st
Annual Interest Payments Due: May 1st & November 1st

Par Amount As Of 8/31/25 =

$1,612,000

II

8/21/2025 11:30 AM

$101,851

$7,018

$108,869

FUND BALANCE AS OF 9/30/24

FY 2024/2025 ACTIVITY

FUND BALANCE AS OF 9/30/25

REVENUES

FISCAL YEAR 2024/2025 BUDGET 10/1/24 - 9/30/25

AMENDED FINAL BUDGET
10/1/24 - 9/30/25

YEAR TO DATE ACTUAL
10/1/24 - 8/31/25

Interest Income

500

5,000

4,703

NAV Tax Collection

185,265

187,003

187,003

Total Revenues

$	185,765

$	192,003

$	191,706

EXPENDITURES

Principal Payments

121,000

121,000

121,000

Interest Payments

62,170

63,985

63,985

Bond Redemption

2,595

0

0

Total Expenditures

$	185,765

$	184,985

$	184,985

Excess/ (Shortfall)

$	-

$	7,018

$	6,721