Kendall Breeze 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  COMMUNITY  DEVELOPMENT  DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	
FISCAL YEAR 2018/2019 BUDGET	
Administrative  Assessments	51,374	
Maintenance  Assessments	96,830	
Debt Assessments	431,824	
Other Revenues	0	
Interest Income	780	
		
TOTAL REVENUES	$		580,808	
		
EXPENDITURES		
MAINTENANCE  EXPENDITURES		
Maintenance/Contingency	15,000	
Roadway Improvements/Reserve	60,000	
Drainage  Improvements/Reserve	12,520	
Engineering/Inspections	3,500	
TOTAL MAINTENANCE EXPENDITURES	$		91,020	
		
ADMINISTRATIVE  EXPENDITURES		
Supervisor Fees	6,000	
Payroll Taxes (Employer)	480	
Management	30,036	
Secretarial	4,200	
Legal	8,000	
Assessment Roll	6,000	
Audit Fees	3,900	
Insurance	6,356	
Legal Advertisements	450	
Miscellaneous	1,000	
Postage	325	
Office Supplies	650	
Dues & Subscriptions	175	
Website  Management	1,500	
TOTAL ADMINISTRATIVE EXPENDITURES	$		69,072	
		
TOTAL EXPENDITURES	$		160,092	
		
REVENUES LESS EXPENDITURES	$		420,716	
		
Bond Payments	(405,915)	
		
BALANCE	$		14,801	
		
County Appraiser & Tax Collector Fee	(11,600)	
Discounts For Early Payments	(23,201)	
		
EXCESS/ (SHORTFALL)	$		(20,000)	
		
Carryover From Prior Year	20,000	
		
NET EXCESS/ (SHORTFALL)	$		-	

5/15/2018  8:46 AM	I

DETAILED FINAL BUDGET
KENDALL  BREEZE  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	62,872	62,090	51,374	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	86,192	86,192	96,830	Expenditures/.94	
Debt Assessments	431,824	431,824	431,824	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	1,570	720	780	Interest Estimated At $65 Per Month	
					
TOTAL REVENUES	$	582,458	$	580,826	$	580,808		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
Maintenance/Contingency	415	15,000	15,000	No Change From 2017/2018 Budget	
Roadway Improvements/Reserve	38,729	50,000	60,000	$10,000 Increase From 2017/2018 Budget	
Drainage Improvements/Reserve	1,450	12,520	12,520	No Change From 2017/2018 Budget	
Engineering/Inspections	12,113	3,500	3,500	No Change From 2017/2018 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	52,707	$	81,020	$	91,020		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	3,000	6,000	6,000	No Change From 2017/2018 Budget	
Payroll Taxes (Employer)	230	480	480	Projected At 8% Of Supervisor Fees	
Management	28,824	29,424	30,036	CPI Adjustment	
Secretarial	4,200	4,200	4,200	No Change From 2017/2018 Budget	
Legal	7,540	8,000	8,000	No Change From 2017/2018 Budget	
Assessment Roll	6,000	6,000	6,000	No Change From 2017/2018 Budget	
Audit Fees	3,700	3,800	3,900	$100 Increase From 2017/2018 Budget	
Insurance	5,778	6,356	6,356	Insurance Company Estimate	
Legal Advertisements	274	450	450	No Change From 2017/2018 Budget	
Miscellaneous	484	1,000	1,000	No Change From 2017/2018 Budget	
Postage	185	350	325	$25 Decrease From 2017/2018 Budget	
Office Supplies	520	650	650	No Change From 2017/2018 Budget	
Dues & Subscriptions	175	175	175	No Change From 2017/2018 Budget	
Website Management	1,500	1,500	1,500	No Change From 2017/2018 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	62,410	$	68,385	$	69,072		
					
TOTAL EXPENDITURES	$	115,117	$	149,405	$	160,092		
					
REVENUES LESS EXPENDITURES	$	467,341	$	431,421	$	420,716		
					
Bond Payments	(407,915)	(405,915)	(405,915)	2019 P & I Payments Less Earned Interest	
					
BALANCE	$	59,426	$	25,506	$	14,801		
					
County Appraiser & Tax Collector Fee	(5,599)	(11,602)	(11,600)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(20,908)	(23,204)	(23,201)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	32,919	$	(9,300)	$	(20,000)		
					
Carryover From Prior Year	0	9,300	20,000	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	32,919	$	-	$	-		

5/15/2018  8:46 AM	II

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

Projected Interest For 2018/2019	

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

2019 P & I Payments Less Earned Interest	

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

EXPENDITURES					

Principal Payments	
183,707	
201,250	
210,306	
Principal Payment Due In 2019	

Interest Payments	
218,500	
205,665	
196,609	
Interest Payments Due In 2019	

Total Expenditures	
$	402,207	
$	406,915	
$	406,915		

Excess/Shortfall	
$	5,708	
$	-	
$	-		

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 =

Par Amount As Of 1/1/18 =	November 2033

$4,570,351			

5/15/2018  8:46 AM	III

Kendall Breeze Community Development District Assessment  Comparison

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

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

-	$
-	$
-	$ 
634.33	$

79.97	$
110.93	$
486.88	$ 
677.78	$

79.95	$
110.93	$
486.88	$ 
677.76	$

79.91	$
110.93	$
486.88	$
677.72	$

66.12
124.62
486.88
677.62

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

-	$
-	$
-	$ 
705.05	$

79.97	$
110.93	$
550.81	$ 
741.71	$

79.95	$
110.93	$
550.81	$ 
741.69	$

79.91	$
110.93	$
550.81	$
741.65	$

66.12
124.62
550.81
741.55

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

-	$
-	$
-	$ 
749.25	$

79.97	$
110.93	$
590.77	$ 
781.67	$

79.95	$
110.93	$
590.77	$ 
781.65	$

79.91	$
110.93	$
590.77	$
781.61	$

66.12
124.62
590.77
781.51

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

-	$
-	$
-	$ 
970.25	$

79.97	$
110.93	$
790.55	$ 
981.45	$

79.95	$
110.93	$
790.55	$ 
981.43	$

79.91	$
110.93	$
790.55	$
981.39	$

66.12
124.62
790.55
981.29

* 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	

5/15/2018  8:46 AM	IV