Kendall Breeze West Community Development District

Final Budget For Fiscal Year 2019/2020
October 1, 2019 - September 30, 2020

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 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2019/2020 BUDGET	
ADMINISTRATIVE ASSESSMENTS	63,886	
MAINTENANCE ASSESSMENTS	23,537	
DEBT ASSESSMENTS	118,604	
INTEREST INCOME	180	
		
TOTAL REVENUES	$		206,207	
		
EXPENDITURES		
MAINTENANCE & OPERATIONS EXPENDITURES		
ENGINEERING - ANNUAL REPORT & INSPECTIONS	1,200	
STREET/ROADWAY & STORMWATER MAINTENANCE	13,200	
SPECIAL PROJECTS	7,200	
STORM CLEANUP - IRMA	0	
MISCELLANEOUS MAINTENANCE	5,000	
MAINTENANCE CONTINGENCY	1,200	
TOTAL MAINTENANCE & OPERATIONS EXPENDITURES	$		27,800	
		
ADMINISTRATIVE EXPENDITURES		
SUPERVISOR FEES	5,000	
PAYROLL TAXES (EMPLOYER)	385	
MANAGEMENT	29,448	
SECRETARIAL & FIELD OPERATIONS	6,000	
LEGAL	8,000	
ASSESSMENT ROLL	7,500	
AUDIT FEES	3,700	
INSURANCE	6,500	
LEGAL ADVERTISING	700	
MISCELLANEOUS	1,500	
POSTAGE	250	
OFFICE SUPPLIES	450	
DUES & SUBSCRIPTIONS	175	
TRUSTEE FEES	4,100	
CONTINUING DISCLOSURE FEE	350	
WEBSITE MANAGEMENT	2,000	
ADMINISTRATIVE CONTINGENCY	1,200	
TOTAL ADMINISTRATIVE EXPENDITURES	$		77,258	
		
TOTAL EXPENDITURES	$		105,058	
		
REVENUES LESS EXPENDITURES	$		101,149	
		
BOND PAYMENTS	(111,488)	
		
BALANCE	$		(10,339)	
		
COUNTY APPRAISER & TAX COLLECTOR FEE	(4,120)	
DISCOUNTS FOR EARLY PAYMENTS	(8,241)	
		
EXCESS/ (SHORTFALL)	$		(22,700)	
		
CARRYOVER FROM PRIOR YEAR	22,700	
		
NET EXCESS / (SHORTFALL)	$		-	

DETAILED FINAL BUDGET
KENDALL BREEZE WEST COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	

FISCAL YEAR 2017/2018
ACTUAL	

FISCAL YEAR 2018/2019
BUDGET	

FISCAL YEAR 2019/2020
BUDGET	

COMMENTS	
ADMINISTRATIVE ASSESSMENTS	66,369	61,634	63,886	Expenditures Less Interest & 75% Of Carryover/.94	
MAINTENANCE ASSESSMENTS	25,931	27,657	23,537	Expenditures Less 25% Of Carryover/.94	
DEBT ASSESSMENTS	114,402	116,985	118,604	Bond Payments/.94	
INTEREST INCOME	295	180	180	Estimated At $15 Per Month	
					
TOTAL REVENUES	$	206,997	$	206,456	$	206,207		
					
EXPENDITURES					
MAINTENANCE & OPERATIONS EXPENDITURES					
ENGINEERING - ANNUAL REPORT & INSPECTIONS	1,700	1,200	1,200	No Change From 2018/2019 Budget	
STREET/ROADWAY & STORMWATER MAINTENANCE	993	18,000	13,200	$4,800 Decrease From 2018/2019 Budget	
SPECIAL PROJECTS	0	7,200	7,200	No Change From 2018/2019 Budget	
STORM CLEANUP - IRMA	1,763	0	0	Fiscal Year 2017/2018 Expenditure	
MISCELLANEOUS MAINTENANCE	1,364	5,000	5,000	No Change From 2018/2019 Budget	
MAINTENANCE CONTINGENCY	0	0	1,200	Maintenance Contingency	
TOTAL MAINTENANCE & OPERATIONS EXPENDITURES	$	5,820	$	31,400	$	27,800		
					
ADMINISTRATIVE EXPENDITURES					
SUPERVISOR FEES	3,000	5,000	5,000	No Change From 2018/2019 Budget	
PAYROLL TAXES (EMPLOYER)	229	385	385	Supervisor Fees *7.65%	
MANAGEMENT	28,320	28,908	29,448	CPI Adjustment	
SECRETARIAL & FIELD OPERATIONS	5,250	5,600	6,000	$400 Increase From 2018/2019 Budget	
LEGAL	8,175	8,000	8,000	No Change From 2018/2019 Budget	
ASSESSMENT ROLL	7,500	7,500	7,500	As Per Contract	
AUDIT FEES	3,600	3,600	3,700	$100 Increase From 2018/2019 Budget	
INSURANCE	5,778	6,356	6,500	Insurance Estimate	
LEGAL ADVERTISING	175	725	700	$25 Decrease From 2018/2019 Budget	
MISCELLANEOUS	746	1,400	1,500	$100 Increase From 2018/2019 Budget	
POSTAGE	93	250	250	No Change From 2018/2019 Budget	
OFFICE SUPPLIES	215	475	450	$25 Decrease From 2018/2019 Budget	
DUES & SUBSCRIPTIONS	175	175	175	No Change From 2018/2019 Budget	
TRUSTEE FEES	3,717	4,100	4,100	Trustee (US Bank) Increased Fees In 2018/2019	
CONTINUING DISCLOSURE FEE	350	350	350	No Change From 2018/2019 Budget	
WEBSITE MANAGEMENT	1,500	1,500	2,000	$500 Increase From 2018/2019 Budget	
ADMINISTRATIVE CONTINGENCY	0	0	1,200	Administrative Contingency	
TOTAL ADMINISTRATIVE EXPENDITURES	$	68,823	$	74,324	$	77,258		
					
TOTAL EXPENDITURES	$	74,643	$	105,724	$	105,058		
					
REVENUES LESS EXPENDITURES	$	132,354	$	100,732	$	101,149		
					
BOND PAYMENTS	(109,128)	(109,966)	(111,488)	2020 P & I Payments Less Earned Interest	
					
BALANCE	$	23,226	$	(9,234)	$	(10,339)		
					
COUNTY APPRAISER & TAX COLLECTOR FEE	(1,991)	(4,125)	(4,120)	Two Percent Of Total Assessment Roll	
DISCOUNTS FOR EARLY PAYMENTS	(7,526)	(8,251)	(8,241)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	13,709	$	(21,610)	$	(22,700)		
					
CARRYOVER FROM PRIOR YEAR	0	21,610	22,700	Carryover From Prior Year	
					
NET EXCESS / (SHORTFALL)	$	13,709	$	-	$	-		

DETAILED FINAL DEBT SERVICE FUND BUDGET
KENDALL BREEZE WEST COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	FISCAL YEAR 2016/2017 ACTUAL	FISCAL YEAR 2018/2019 BUDGET	FISCAL YEAR 2019/2020 BUDGET	

COMMENTS	

Interest Income	
1,039	
100	
200	
Projected Interest For 2019/2020	

NAV Tax Collection	
109,128	
109,966	
111,488	

2020 P & I Payments Less Earned Interest	

Total Revenues	
$	110,167	
$	110,066	
$	111,688		

EXPENDITURES					

Principal Payments	
45,000	
45,000	
50,000	
Principal Payment Due In 2020	

Interest Payments	
68,591	
65,066	
61,688	
Interest Payments Due In 2020	

Total Expenditures	
$	113,591	
$	110,066	
$	111,688		

Excess / (Shortfall)	
$	(3,424)	
$	-	
$	-		

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 =	December 2004			
Maturity Date =	May 2034			

Kendall Breeze West Community Development District Assessment Comparison

	Fiscal Year	Fiscal Year	Fiscal Year		Fiscal Year	
	2016/2017	2017/2018	2018/2019		2019/2020	
Lot	Assessment	Assessment	Assessment		Projected  Assessment	
Size	   Before Discount* 	     Before Discount* 	 	Before Discount* 	 	Before Discount* 	

30	Administrative	$	327.85	$	318.21	$	296.32	$	307.15	
	Maintenance	$	104.08	$	124.67	$	132.97	$	113.16	
	Debt	$ 	537.23	$ 	525.86	$ 	537.74	$ 	545.18	

Sub-Total For Lot Size 30	$

969.16

$	968.74	$

967.03	$

965.49

35	Administrative	$	327.85	$	318.21	$	296.32	$	307.15	
	Maintenance	$	104.08	$	124.67	$	132.97	$	113.16	
	Debt	$ 	611.60	$ 	598.65	$ 	612.17	$ 	620.64	

Sub-Total For Lot Size 35

$	1,043.53

$	1,041.53

$	1,041.46	$

1,040.95

* 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