Kendall Breeze West Community Development District

Final Budget For Fiscal Year 2017/2018
October 1, 2017 - September 30, 2018

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
KENDALL BREEZE WEST COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2017/2018
OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	
FISCAL YEAR 2017/2018 BUDGET	
ADMINISTRATIVE ASSESSMENTS	66,187	
MAINTENANCE ASSESSMENTS	25,931	
DEBT ASSESSMENTS	114,402	
INTEREST INCOME	120	
		
TOTAL REVENUES	$	206,640	
		
EXPENDITURES		
MAINTENANCE & OPERATIONS EXPENDITURES		
ENGINEERING - ANNUAL REPORT & INSPECTIONS	2,400	
STREET/ROADWAY & STORMWATER MAINTENANCE	15,000	
SPECIAL PROJECTS	6,000	
MISCELLANEOUS MAINTENANCE	4,800	
TOTAL MAINTENANCE & OPERATIONS EXPENDITURES	$	28,200	
		
ADMINISTRATIVE EXPENDITURES		
SUPERVISOR FEES	5,000	
PAYROLL TAXES (EMPLOYER)	385	
MANAGEMENT	28,320	
SECRETARIAL & FIELD OPERATIONS	5,250	
LEGAL	8,500	
ASSESSMENT ROLL	7,500	
AUDIT FEES	3,600	
INSURANCE	6,356	
LEGAL ADVERTISING	750	
MISCELLANEOUS	1,400	
POSTAGE	275	
OFFICE SUPPLIES	500	
DUES & SUBSCRIPTIONS	175	
TRUSTEE FEES	3,800	
CONTINUING DISCLOSURE FEE	500	
WEBSITE MANAGEMENT	1,500	
TOTAL ADMINISTRATIVE EXPENDITURES	$	73,811	
		
TOTAL EXPENDITURES	$	102,011	
		
REVENUES LESS EXPENDITURES	$	104,629	
		
BOND PAYMENTS	(107,538)	
		
BALANCE	$	(2,909)	
		
COUNTY APPRAISER & TAX COLLECTOR FEE	(4,130)	
DISCOUNTS FOR EARLY PAYMENTS	(8,261)	
		
EXCESS/ (SHORTFALL)	$	(15,300)	
		
CARRYOVER FROM PRIOR YEAR	15,300	
		
NET EXCESS / (SHORTFALL)	$	-	

DETAILED FINAL BUDGET
KENDALL BREEZE WEST COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2017/2018
OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	
FISCAL YEAR 2015/2016
ACTUAL	
FISCAL YEAR 2016/2017
BUDGET	
FISCAL YEAR 2017/2018
BUDGET	

COMMENTS	
ADMINISTRATIVE ASSESSMENTS	67,473	68,193	66,187	Expenditures Less Interest & 75% Of Carryover/.94	
MAINTENANCE ASSESSMENTS	20,745	21,649	25,931	Expenditures Less 25% Of Carryover/.94	
DEBT ASSESSMENTS	119,322	116,875	114,402	Bond Payments/.94	
INTEREST INCOME	117	60	120	Estimated At $10 Per Month	
					
TOTAL REVENUES	$	207,657	$	206,777	$	206,640		
					
EXPENDITURES					
MAINTENANCE & OPERATIONS EXPENDITURES					
ENGINEERING - ANNUAL REPORT & INSPECTIONS	7,122	2,400	2,400	No Change From 2016/2017 Budget	
STREET/ROADWAY & STORMWATER MAINTENANCE	0	12,000	15,000	$3,000 Increase From 2016/2017 Budget	
SPECIAL PROJECTS	21,315	4,800	6,000	$1,200 Increase From 2016/2017 Budget	
MISCELLANEOUS MAINTENANCE	0	4,000	4,800	$800 Increase From 2016/2017 Budget	
TOTAL MAINTENANCE & OPERATIONS EXPENDITURES	$	28,437	$	23,200	$	28,200		
					
ADMINISTRATIVE EXPENDITURES					
SUPERVISOR FEES	4,000	5,000	5,000	No Change From 2016/2017 Budget	
PAYROLL TAXES (EMPLOYER)	306	385	385	Supervisor Fees *7.65%	
MANAGEMENT	27,552	27,744	28,320	CPI Adjustment	
SECRETARIAL & FIELD OPERATIONS	4,800	4,900	5,250	$350 Increase From 2016/2017 Budget	
LEGAL	7,541	8,500	8,500	No Change From 2016/2017 Budget	
ASSESSMENT ROLL	7,500	7,500	7,500	As Per Contract	
AUDIT FEES	3,600	3,700	3,600	Accepted Amount For 2016/2017 Audit	
INSURANCE	5,665	6,232	6,356	Insurance Company Estimate	
LEGAL ADVERTISING	351	750	750	No Change From 2016/2017 Budget	
MISCELLANEOUS	615	1,250	1,400	$150 Increase From 2016/2017 Budget	
POSTAGE	79	300	275	$25 Decrease From 2016/2017 Budget	
OFFICE SUPPLIES	512	475	500	$25 Increase From 2016/2017 Budget	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2016/2017 Budget	
TRUSTEE FEES	3,717	3,800	3,800	No Change From 2016/2017 Budget	
CONTINUING DISCLOSURE FEE	500	500	500	No Change From 2016/2017 Budget	
WEBSITE MANAGEMENT	1,500	1,500	1,500	No Change From 2016/2017 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	68,413	$	72,711	$	73,811		
					
TOTAL EXPENDITURES	$	96,850	$	95,911	$	102,011		
					
REVENUES LESS EXPENDITURES	$	110,807	$	110,866	$	104,629		
					
BOND PAYMENTS	(113,863)	(109,863)	(107,538)	2018 P & I Payments Less Earned Interest	
					
BALANCE	$	(3,056)	$	1,003	$	(2,909)		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(2,000)	(4,134)	(4,130)	Two Percent Of Total Assessment Roll	
DISCOUNTS FOR EARLY PAYMENTS	(7,508)	(8,269)	(8,261)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	(12,564)	$	(11,400)	$	(15,300)		
					
CARRYOVER FROM PRIOR YEAR	0	11,400	15,300	Carryover From Prior Year	
					
NET EXCESS / (SHORTFALL)	$	(12,564)	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND BUDGET KENDALL BREEZE WEST COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2017/2018
OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	FISCAL YEAR 2015/2016 ACTUAL	FISCAL YEAR 2016/2017 BUDGET	FISCAL YEAR 2017/2018 BUDGET	

COMMENTS	

Interest Income	
6	
50	
25	
Projected Interest For 2017/2018	

NAV Tax Collection	
113,863	
109,863	
107,538	

2018 P & I Payments Less Earned Interest	

Total Revenues	
$	113,869	
$	109,913	
$	107,563		

EXPENDITURES					

Principal Payments	
40,000	
40,000	
40,000	
Principal Payment Due In 2018	

Interest Payments	
73,438	
69,913	
67,563	
Interest Payments Due In 2018	

Total Expenditures	
$	113,438	
$	109,913	
$	107,563		

Excess / (Shortfall)	
$	431	
$	-	
$	-		

Series 2004 Bond Information

Original Par Amount =	$1,580,000	Annual Principal Payments Due May 1st	
Interest Rate =	5.875%	Annual Interest Payments Due = May 1st & November 1st	
Issue Date =
Maturity Date =	December 2004
May 2034		

Kendall Breeze West Community Development District Assessment Comparison

	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
	2014/2015	2015/2016	2016/2017	2017/2018	
Lot	Assessment	Assessment	Assessment	Projected Assessment	
Size	    Before Discount* 	      Before Discount*		 	Before Discount*		 	Before Discount*		

30	Administrative	$	318.44	$	322.77	$	327.85	$	318.21	
	Maintenance	$	118.15	$	99.73	$	104.08	$	124.67	
	Debt	$	536.24	$	548.48	$	537.23	$	525.86	
	Sub-Total For Lot Size 30	$	972.83	$	970.98	$	969.16	$	968.74	

35	Administrative	$	318.44	$	322.77	$	327.85	$	318.21	
	Maintenance	$	118.15	$	99.73	$	104.08	$	124.67	
	Debt	$	610.47	$	624.40	$	611.60	$	598.65	
	Sub-Total For Lot Size 35	$	1,047.06	$	1,046.90	$	1,043.53	$	1,041.53	

* Assessments Include the Following :	            4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee

Community Information:	
Thirty Foot Homes	139	
Thirty Five Foot Homes	69	
Total Units	208