Kendall Breeze West Community Development District

Final Budget For Fiscal Year 2018/2019
October 1, 2018 - September 30, 2019

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 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	
FISCAL YEAR 2018/2019 BUDGET	
ADMINISTRATIVE ASSESSMENTS	61,634	
MAINTENANCE ASSESSMENTS	27,657	
DEBT ASSESSMENTS	116,985	
INTEREST INCOME	180	
		
TOTAL REVENUES	$	206,456	
		
EXPENDITURES		
MAINTENANCE & OPERATIONS EXPENDITURES		
ENGINEERING - ANNUAL REPORT & INSPECTIONS	1,200	
STREET/ROADWAY & STORMWATER MAINTENANCE	18,000	
SPECIAL PROJECTS	7,200	
MISCELLANEOUS MAINTENANCE	5,000	
TOTAL MAINTENANCE & OPERATIONS EXPENDITURES	$	31,400	
		
ADMINISTRATIVE EXPENDITURES		
SUPERVISOR FEES	5,000	
PAYROLL TAXES (EMPLOYER)	385	
MANAGEMENT	28,908	
SECRETARIAL & FIELD OPERATIONS	5,600	
LEGAL	8,000	
ASSESSMENT ROLL	7,500	
AUDIT FEES	3,600	
INSURANCE	6,356	
LEGAL ADVERTISING	725	
MISCELLANEOUS	1,400	
POSTAGE	250	
OFFICE SUPPLIES	475	
DUES & SUBSCRIPTIONS	175	
TRUSTEE FEES	4,100	
CONTINUING DISCLOSURE FEE	350	
WEBSITE MANAGEMENT	1,500	
TOTAL ADMINISTRATIVE EXPENDITURES	$	74,324	
		
TOTAL EXPENDITURES	$	105,724	
		
REVENUES LESS EXPENDITURES	$	100,732	
		
BOND PAYMENTS	(109,966)	
		
BALANCE	$	(9,234)	
		
COUNTY APPRAISER & TAX COLLECTOR FEE	(4,125)	
DISCOUNTS FOR EARLY PAYMENTS	(8,251)	
		
EXCESS/ (SHORTFALL)	$	(21,610)	
		
CARRYOVER FROM PRIOR YEAR	21,610	
		
NET EXCESS / (SHORTFALL)	$	-	

I

6/10/2018 5:36 PM

DETAILED FINAL BUDGET
KENDALL BREEZE WEST COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	
FISCAL YEAR 2016/2017
ACTUAL	
FISCAL YEAR 2017/2018
BUDGET	
FISCAL YEAR 2018/2019
BUDGET	

COMMENTS	
ADMINISTRATIVE ASSESSMENTS	68,469	66,187	61,634	Expenditures Less Interest & 75% Of Carryover/.94	
MAINTENANCE ASSESSMENTS	21,649	25,931	27,657	Expenditures Less 25% Of Carryover/.94	
DEBT ASSESSMENTS	116,876	114,402	116,985	Bond Payments/.94	
INTEREST INCOME	271	120	180	Estimated At $15 Per Month	
					
TOTAL REVENUES	$	207,265	$	206,640	$	206,456		
					
EXPENDITURES					
MAINTENANCE & OPERATIONS EXPENDITURES					
ENGINEERING - ANNUAL REPORT & INSPECTIONS	1,050	2,400	1,200	$1,200 Decrease From 2017/2018 Budget	
STREET/ROADWAY & STORMWATER MAINTENANCE	6,396	15,000	18,000	$3,000 Increase From 2017/2018 Budget	
SPECIAL PROJECTS	0	6,000	7,200	$1,200 Increase From 2017/2018 Budget	
MISCELLANEOUS MAINTENANCE	300	4,800	5,000	$200 Increase From 2017/2018 Budget	
TOTAL MAINTENANCE & OPERATIONS EXPENDITURES	$	7,746	$	28,200	$	31,400		
					
ADMINISTRATIVE EXPENDITURES					
SUPERVISOR FEES	3,000	5,000	5,000	No Change From 2017/2018 Budget	
PAYROLL TAXES (EMPLOYER)	230	385	385	Supervisor Fees *7.65%	
MANAGEMENT	27,744	28,320	28,908	CPI Adjustment	
SECRETARIAL & FIELD OPERATIONS	4,900	5,250	5,600	$350 Increase From 2017/2018 Budget	
LEGAL	6,937	8,500	8,000	$500 Decrease From 2017/2018 Budget	
ASSESSMENT ROLL	7,500	7,500	7,500	As Per Contract	
AUDIT FEES	3,700	3,600	3,600	Accepted Amount For 2017/2018 Audit	
INSURANCE	5,778	6,356	6,356	Insurance Company Estimate	
LEGAL ADVERTISING	401	750	725	$25 Decrease From 2017/2018 Budget	
MISCELLANEOUS	458	1,400	1,400	No Change From 2017/2018 Budget	
POSTAGE	87	275	250	$25 Decrease From 2017/2018 Budget	
OFFICE SUPPLIES	224	500	475	$25 Decrease From 2017/2018 Budget	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2017/2018 Budget	
TRUSTEE FEES	3,717	3,800	4,100	Trustee (US Bank) Increasing Fees In 2018/2019	
CONTINUING DISCLOSURE FEE	350	500	350	$150 Decrease From 2017/2018 Budget	
WEBSITE MANAGEMENT	1,500	1,500	1,500	No Change From 2017/2018 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	66,701	$	73,811	$	74,324		
					
TOTAL EXPENDITURES	$	74,447	$	102,011	$	105,724		
					
REVENUES LESS EXPENDITURES	$	132,818	$	104,629	$	100,732		
					
BOND PAYMENTS	(111,538)	(107,538)	(109,966)	2019 P & I Payments Less Earned Interest	
					
BALANCE	$	21,280	$	(2,909)	$	(9,234)		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(1,995)	(4,130)	(4,125)	Two Percent Of Total Assessment Roll	
DISCOUNTS FOR EARLY PAYMENTS	(7,427)	(8,261)	(8,251)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	11,858	$	(15,300)	$	(21,610)		
					
CARRYOVER FROM PRIOR YEAR	0	15,300	21,610	Carryover From Prior Year	
					
NET EXCESS / (SHORTFALL)	$	11,858	$	-	$	-		

II

6/10/2018 5:36 PM

DETAILED FINAL DEBT SERVICE FUND BUDGET
KENDALL BREEZE WEST COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	FISCAL YEAR 2016/2017 ACTUAL	FISCAL YEAR 2017/2018 BUDGET	FISCAL YEAR 2018/2019 BUDGET	

COMMENTS	

Interest Income	
283	
25	
100	
Projected Interest For 2018/2019	

NAV Tax Collection	
111,538	
107,538	
109,966	

2019 P & I Payments Less Earned Interest	

Total Revenues	
$	111,821	
$	107,563	
$	110,066		

EXPENDITURES					

Principal Payments	
40,000	
40,000	
45,000	
Principal Payment Due In 2019	

Interest Payments	
71,088	
67,563	
65,066	
Interest Payments Due In 2019	

Total Expenditures	
$	111,088	
$	107,563	
$	110,066		

Excess / (Shortfall)	
$	733	
$	-	
$	-		

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			

6/10/2018 5:36 PM	III

Kendall Breeze West Community Development District Assessment Comparison

	Fiscal Year	Fiscal Year	Fiscal Year	Fiscal Year	
	2015/2016	2016/2017	2017/2018	2018/2019	
Lot	Assessment	Assessment	Assessment	Projected Assessment	
Size	    Before Discount* 	      Before Discount*		 	Before Discount*		 	Before Discount*		

30	Administrative	$	322.77	$	327.85	$	318.21	$	296.32	
	Maintenance	$	99.73	$	104.08	$	124.67	$	132.97	
	Debt	$	548.48	$	537.23	$	525.86	$	537.74	
	Sub-Total For Lot Size 30	$	970.98	$	969.16	$	968.74	$	967.03	

35	Administrative	$	322.77	$	327.85	$	318.21	$	296.32	
	Maintenance	$	99.73	$	104.08	$	124.67	$	132.97	
	Debt	$	624.40	$	611.60	$	598.65	$	612.17	
	Sub-Total For Lot Size 35	$	1,046.90	$	1,043.53	$	1,041.53	$	1,041.46	

* 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	

6/10/2018 5:36 PM	IV