Kendall Breeze 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  COMMUNITY  DEVELOPMENT  DISTRICT FISCAL YEAR 2017/2018
OCTOBER 1, 2017 - SEPTEMBER 30, 2018

REVENUES	
FISCAL YEAR 2017/2018 BUDGET	
Administrative  Assessments	62,090	
Maintenance  Assessments	86,192	
Debt Assessments	431,824	
Other Revenues	0	
Interest Income	720	
		
TOTAL REVENUES	$		580,826	
		
EXPENDITURES		
MAINTENANCE  EXPENDITURES		
Maintenance/Contingency	15,000	
Roadway  Improvements/Reserve	50,000	
Drainage  Improvements/Reserve	12,520	
Engineering/Inspections	3,500	
TOTAL MAINTENANCE EXPENDITURES	$		81,020	
		
ADMINISTRATIVE  EXPENDITURES		
Supervisor Fees	6,000	
Payroll Taxes (Employer)	480	
Management	29,424	
Secretarial	4,200	
Legal	8,000	
Assessment Roll	6,000	
Audit Fees	3,800	
Insurance	6,356	
Legal Advertisements	450	
Miscellaneous	1,000	
Postage	350	
Office Supplies	650	
Dues & Subscriptions	175	
Website Management	1,500	
TOTAL  ADMINISTRATIVE  EXPENDITURES	$		68,385	
		
TOTAL  EXPENDITURES	$		149,405	
		
REVENUES LESS EXPENDITURES	$		431,421	
		
Bond Payments	(405,915)	
		
BALANCE	$		25,506	
		
County Appraiser & Tax Collector Fee	(11,602)	
Discounts For Early Payments	(23,204)	
		
EXCESS/  (SHORTFALL)	$		(9,300)	
		
Carryover From Prior Year	9,300	
		
NET EXCESS/ (SHORTFALL)	$		-	

5/17/2017  10:41 AM	I

DETAILED FINAL BUDGET
KENDALL  BREEZE  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	62,822	62,116	62,090	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	86,193	86,192	86,192	Expenditures/.94	
Debt Assessments	431,825	431,824	431,824	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	1,464	540	720	Interest Estimated At $60 Per Month	
					
TOTAL REVENUES	$	582,304	$	580,672	$	580,826		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
Maintenance/Contingency	500	15,000	15,000	No Change From 2016/2017 Budget	
Roadway Improvements/Reserve	22,320	50,000	50,000	No Change From 2016/2017 Budget	
Drainage Improvements/Reserve	0	12,520	12,520	No Change From 2016/2017 Budget	
Engineering/Inspections	4,803	3,500	3,500	No Change From 2016/2017 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	27,623	$	81,020	$	81,020		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	5,000	6,000	6,000	No Change From 2016/2017 Budget	
Payroll Taxes (Employer)	383	480	480	Projected At 8% Of Supervisor Fees	
Management	28,632	28,824	29,424	CPI Adjustment	
Secretarial	4,200	4,200	4,200	No Change From 2016/2017 Budget	
Legal	9,057	7,000	8,000	$1,000 Increase From 2016/2017 Budget	
Assessment Roll	6,000	6,000	6,000	No Change From 2016/2017 Budget	
Audit Fees	3,600	3,700	3,800	$100 Increase From 2016/2017 Budget	
Insurance	5,665	6,200	6,356	Insurance Company Estimate	
Legal Advertisements	429	400	450	$50 Increase From 2016/2017 Budget	
Miscellaneous	555	1,050	1,000	$50 Decrease From 2016/2017 Budget	
Postage	142	375	350	$50 Decrease From 2016/2017 Budget	
Office Supplies	691	625	650	$50 Increase From 2016/2017 Budget	
Dues & Subscriptions	175	175	175	No Change From 2016/2017 Budget	
Website Management	1,500	1,500	1,500	No Change From 2016/2017 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	66,029	$	66,529	$	68,385		
					
TOTAL EXPENDITURES	$	93,652	$	147,549	$	149,405		
					
REVENUES LESS EXPENDITURES	$	488,652	$	433,123	$	431,421		
					
Bond Payments	(407,915)	(405,915)	(405,915)	2018 P & I Payments Less Earned Interest	
					
BALANCE	$	80,737	$	27,208	$	25,506		
					
County Appraiser & Tax Collector Fee	(5,601)	(11,603)	(11,602)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(20,729)	(23,205)	(23,204)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	54,407	$	(7,600)	$	(9,300)		
					
Carryover From Prior Year	0	7,600	9,300	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	54,407	$	-	$	-		

5/17/2017  10:41 AM	II

DETAILED FINAL DEBT SERVICE BUDGET
KENDALL BREEZE 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	
0	
1,000	
1,000	

Projected Interest For 2017/2018	

NAV Tax Collection	
407,915	
405,915	
405,915	

2018 P & I Payments Less Earned Interest	

Total Revenues	
$	407,915	
$	406,915	
$	406,915		

EXPENDITURES					

Principal Payments	
176,380	
192,584	
201,250	
Principal Payment Due In 2018	

Interest Payments	
227,210	
214,331	
205,665	
Interest Payments Due In 2018	

Total Expenditures	
$	403,590	
$	406,915	
$	406,915		

Excess/Shortfall	
$	4,325	
$	-	
$	-		

Series 2007 Refunding Bonds Information

Original Par Amount =	$6,161,095	Annual Principal Payments Due =	November 1st	
Interest Rate =	4.50%	Annual Interest Payments Due =	May 1st & November 1st	
Issue Date =	March 2007			
Maturity Date =	November 2033			

5/17/2017 10:41 AM	III

Kendall Breeze Community Development District Assessment  Comparison

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

22	Administrative	$
Maintenance	$ Debt	$ 
Sub-Total For Lot Size 22	$

-	$
-	$
-	$ 
634.33	$

80.11	$
110.93	$
486.88	$ 
677.92	$

79.97	$
110.93	$
486.88	$ 
677.78	$

79.95	$
110.93	$
486.88	$
677.76	$

79.91
110.93
486.88
677.72

30	Administrative	$
Maintenance	$ Debt	$ 
Sub-Total For Lot Size 30	$

-	$
-	$
-	$ 
705.05	$

80.11	$
110.93	$
550.81	$ 
741.85	$

79.97	$
110.93	$
550.81	$ 
741.71	$

79.95	$
110.93	$
550.81	$
741.69	$

79.91
110.93
550.81
741.65

35	Administrative	$
Maintenance	$ Debt	$ 
Sub-Total For Lot Size 35	$

-	$
-	$
-	$ 
749.25	$

80.11	$
110.93	$
590.77	$ 
781.81	$

79.97	$
110.93	$
590.77	$ 
781.67	$

79.95	$
110.93	$
590.77	$
781.65	$

79.91
110.93
590.77
781.61

60	Administrative	$
Maintenance	$ Debt	$ 
Sub-Total For Lot Size 60	$

-	$
-	$
-	$ 
970.25	$

80.11	$
110.93	$
790.55	$ 
981.59	$

79.97	$
110.93	$
790.55	$ 
981.45	$

79.95	$
110.93	$
790.55	$
981.43	$

79.91
110.93
790.55
981.39

* Assessments Include the Following :  4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee		
Community  Information:  Twenty Two Foot Lots	

478	
Thirty Foot Lots	73	
Thirty Five Foot Lots	99	
Sixty Five Foot Homes	127	
Total Units	777	

5/17/2017  10:41 AM	IV