Century Park South Community Development District

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

CONTENTS

PROPOSED BUDGET

DETAILED PROPOSED BUDGET

DETAILED PROPOSED DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

PROPOSED BUDGET
CENTURY PARK SOUTH COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2020/2021
BUDGET	
Administrative Assessments	75,001	
Maintenance Assessments	31,058	
Developer Contribution	0	
Debt Assessments	271,749	
Interest Income	24	
		
TOTAL REVENUES	$	377,832	
		
EXPENDITURES		
Administrative Expenditures		
Supervisor Fees	0	
Management	27,600	
Legal	15,000	
Assessment Roll	6,500	
Audit Fees	4,000	
Arbitrage Rebate Fee	0	
Insurance	5,500	
Legal Advertisements	2,000	
Miscellaneous	1,250	
Postage	250	
Office Supplies	750	
Dues & Subscriptions	175	
Trustee Fees	3,500	
Continuing Disclosure Fee	1,000	
Website Management & ADA Compliance	1,500	
Administrative Contingency	1,500	
Total Administrative Expenditures	$	70,525	
		
Maintenance Expenditures		
Engineering/Inspections	2,100	
Miscellaneous Maintenance	15,000	
Infrastructure Maintenance	12,095	
Total Maintenance Expenditures	$	29,195	
		
TOTAL EXPENDITURES	$	99,720	
		
REVENUES LESS EXPENDITURES	$	278,112	
		
Bond Payments	(255,444)	
		
BALANCE	$	22,668	
		
County Appraiser & Tax Collector Fee	(7,556)	
Discounts For Early Payments	(15,112)	
		
EXCESS/ (SHORTFALL)	$	-	
		
CARRYOVER FROM PRIOR YEAR	0	

DETAILED PROPOSED BUDGET
CENTURY PARK SOUTH COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2018/2019 ACTUAL	
FISCAL YEAR 2019/2020 BUDGET	
FISCAL YEAR 2020/2021 BUDGET	

COMMENTS	
Administrative Assessments	0	0	75,001	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	0	0	31,058	Expenditures/.94	
Developer Contribution	5,500	99,720	0	Developer Contribution	
Debt Assessments	0	0	271,749	Bond Payments/.94	
Interest Income	0	0	24	Interest Projected At $2 Per Month	
					
TOTAL REVENUES	$	5,500	$	99,720	$	377,832		
					
EXPENDITURES					
Administrative Expenditures					
Supervisor Fees	0	0	0		
Management	0	27,600	27,600	CPI Adjustment Will Commence In 2021/2022	
Legal	2,935	15,000	15,000	No Change From 2019/2020 Budget	
Assessment Roll	0	6,500	6,500	As Per Contract - Will Commence When District Is On Roll	
Audit Fees	0	0	4,000	Audit Fees	
Arbitrage Rebate Fee	0	0	0	District Qualifies For Small User Exception	
Insurance	0	6,000	5,500	Insurance Estimate	
Legal Advertisements	83	2,500	2,000	$500 Decrease From 2019/2020 Budget	
Miscellaneous	0	1,250	1,250	No Change From 2019/2020 Budget	
Postage	0	250	250	No Change From 2019/2020 Budget	
Office Supplies	0	750	750	No Change From 2019/2020 Budget	
Dues & Subscriptions	0	175	175	No Change From 2019/2020 Budget	
Trustee Fees	0	0	3,500	Trustee Fees	
Continuing Disclosure Fee	0	0	1,000	Continuing Disclosure Fee	
Website Management & ADA Compliance	0	1,500	1,500	No Change From 2019/2020 Budget	
Administrative Contingency	0	6,095	1,500	Administrative Contingency	
Total Administrative Expenditures	$	3,018	$	67,620	$	70,525		
					
Maintenance Expenditures					
Engineering/Inspections	0	2,100	2,100	No Change From 2019/2020 Budget	
Miscellaneous Maintenance	0	15,000	15,000	No Change From 2019/2020 Budget	
Infrastructure Maintenance	0	15,000	12,095	$2,905 Decrease From 2019/2020 Budget	
Total Maintenance Expenditures	$	-	$	32,100	$	29,195		
					
TOTAL EXPENDITURES	$	3,018	$	99,720	$	99,720		
					
REVENUES LESS EXPENDITURES	$	2,482	$	-	$	278,112		
					
Bond Payments	0	0	(255,444)	2021 P & I Payments Less Earned Interest	
					
BALANCE	$	2,482	$	-	$	22,668		
					
County Appraiser & Tax Collector Fee	0	0	(7,556)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	0	0	(15,112)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	2,482	$	-	$	-		
					
CARRYOVER FROM PRIOR YEAR	0	0	0	Carryover From Prior Year	

DETAILED PROPOSED DEBT SERVICE FUND BUDGET
CENTURY PARK SOUTH COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	FISCAL YEAR 2018/2019 ACTUAL	FISCAL YEAR 2019/2020 BUDGET	FISCAL YEAR 2020/2021 BUDGET	

COMMENTS	

Interest Income	
0	
0	
25	
Projected Interest For 2020/2021	

NAV Tax Collection	
0	
0	
255,444	
Maximum Debt Service Collection	

Total Revenues	
$	-	
$	-	
$	255,469		

EXPENDITURES					

Principal Payments	
0	
0	
85,000	
Principal Payments Due In 2021	

Interest Payments	
0	
0	
167,019	
Interest Payments Due In 2021	

Bond Redemption	
0	
0	
3,450	
Estimated Excess Debt Collections	

Total Expenditures	
$	-	
$	-	
$	255,469		

Excess/ (Shortfall)	
$	-	
$	-	
$	-		

Series 2020 Bond Information
Original Par Amount =	$4,505,000	Annual Principal Payments Due =	May 1st	
Interest Rate =	3.00% - 4.00%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	February 2020			
Maturity Date =

Par Amount As Of 6/1/2020 =	May 2050

$4,505,000			

Century Park South Community Development District Assessment Comparison

	Fiscal Year	Fiscal Year	Fiscal Year	
Original	2018/2019	2019/2020	2020/2021	
Projected	Assessment	Assessment	Projected Assessment	
 	Assessment*		  Before Discount* 	   Before Discount* 	 	Before Discount*		

Administrative For Townhome Units	$	-	$	-	$	-	$	270.76	
Maintenance For Townhome Units	$	-	$	-	$	-	$	112.13	
Debt For Townhome Units	$	1,125.41	$	-		$	-		$	1,125.41	
Total For Townhome Units	$	1,125.41	$	-	$	-	$	1,508.30	

Administrative For Condominium Units	
$	-	$	-	$	-	$	
270.76	
Maintenance For Condominium Units	$	-	$	-	$	-	$	112.13	
Debt For Condominium Units	$	869.06	$	-		$	-		$	869.06	
Total For Condominium Units	$	869.06	$	-	$	-	$	1,251.95	

* Assessments Include the Following :		O&M Covenant = 360.00
4% Discount for Early Payments	360.00/.94 = 382.98
1% County Tax Collector Fee
1% County Property Appraiser Fee
Community Information:		                                            Townhome Units	121
Condominium Units	156
Total Units	277

6/2/2020  7:54 AM	IV