Kendall Breeze 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 COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2019/2020 BUDGET	
Administrative Assessments	51,352	
Maintenance Assessments	96,830	
Debt Assessments	431,824	
Other Revenues	0	
Interest Income	840	
		
TOTAL REVENUES	$	580,846	
		
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	30,600	
Secretarial	4,200	
Legal	8,000	
Assessment Roll	6,000	
Audit Fees	4,000	
Insurance	6,356	
Legal Advertisements	450	
Miscellaneous	1,000	
Postage	300	
Office Supplies	650	
Dues & Subscriptions	175	
Website Management	2,000	
TOTAL ADMINISTRATIVE EXPENDITURES	$	70,211	
		
TOTAL EXPENDITURES	$	161,231	
		
REVENUES LESS EXPENDITURES	$	419,615	
		
Bond Payments	(405,915)	
		
BALANCE	$	13,700	
		
County Appraiser & Tax Collector Fee	(11,600)	
Discounts For Early Payments	(23,200)	
		
EXCESS/ (SHORTFALL)	$	(21,100)	
		
Carryover From Prior Year	21,100	
		
NET EXCESS/ (SHORTFALL)	$	-	

5/4/2019  4:09 PM	I

DETAILED FINAL BUDGET
KENDALL BREEZE 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	62,978	51,374	51,352	Expenditures Less Interest & Carryover/.94	
Maintenance Assessments	86,192	96,830	96,830	Expenditures/.94	
Debt Assessments	431,834	431,824	431,824	Bond Payments/.94	
Other Revenues	0	0	0		
Interest Income	1,024	780	840	Interest Estimated At $70 Per Month	
					
TOTAL REVENUES	$	582,028	$	580,808	$	580,846		
					
EXPENDITURES					
MAINTENANCE EXPENDITURES					
Maintenance/Contingency	0	15,000	15,000	No Change From 2018/2019 Budget	
Roadway Improvements/Reserve	108,078	60,000	60,000	No Change From 2018/2019 Budget	
Drainage Improvements/Reserve	4,850	12,520	12,520	No Change From 2018/2019 Budget	
Engineering/Inspections	7,095	3,500	3,500	No Change From 2018/2019 Budget	
TOTAL MAINTENANCE EXPENDITURES	$	120,023	$	91,020	$	91,020		
					
ADMINISTRATIVE EXPENDITURES					
Supervisor Fees	3,000	6,000	6,000	No Change From 2018/2019 Budget	
Payroll Taxes (Employer)	230	480	480	Projected At 8% Of Supervisor Fees	
Management	29,424	30,036	30,600	CPI Adjustment	
Secretarial	4,200	4,200	4,200	No Change From 2018/2019 Budget	
Legal	8,557	8,000	8,000	No Change From 2018/2019 Budget	
Assessment Roll	6,000	6,000	6,000	No Change From 2018/2019 Budget	
Audit Fees	3,800	3,900	4,000	$100 Increase From 2018/2019 Budget	
Insurance	5,778	6,356	6,356	Insurance Company Estimate	
Legal Advertisements	419	450	450	No Change From 2018/2019 Budget	
Miscellaneous	535	1,000	1,000	No Change From 2018/2019 Budget	
Postage	176	325	300	$25 Decrease From 2018/2019 Budget	
Office Supplies	525	650	650	No Change From 2018/2019 Budget	
Dues & Subscriptions	175	175	175	No Change From 2018/2019 Budget	
Website Management	1,500	1,500	2,000	$500 Increase From 2018/2019 Budget	
TOTAL ADMINISTRATIVE EXPENDITURES	$	64,319	$	69,072	$	70,211		
					
TOTAL EXPENDITURES	$	184,342	$	160,092	$	161,231		
					
REVENUES LESS EXPENDITURES	$	397,686	$	420,716	$	419,615		
					
Bond Payments	(407,915)	(405,915)	(405,915)	2020 P & I Payments Less Earned Interest	
					
BALANCE	$	(10,229)	$	14,801	$	13,700		
					
County Appraiser & Tax Collector Fee	(5,595)	(11,600)	(11,600)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(21,189)	(23,201)	(23,200)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	(37,013)	$	(20,000)	$	(21,100)		
					
Carryover From Prior Year	0	20,000	21,100	Carryover From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	(37,013)	$	-	$	-		

5/4/2019 4:09 PM	II

DETAILED FINAL DEBT SERVICE BUDGET
KENDALL BREEZE 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	

Interest Income	
0	
1,000	
1,000	
Projected Interest For 2019/2020	

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

2020 P & I Payments Less Earned Interest	

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

EXPENDITURES					

Principal Payments	
192,584	
210,306	
219,257	
Principal Payment Due In 2020	

Interest Payments	
210,035	
196,609	
187,658	
Interest Payments Due In 2020	

Total Expenditures	
$	402,619	
$	406,915	
$	406,915		

Excess/Shortfall	
$	5,296	
$	-	
$	-		

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 1/1/19 =	November 2033

$4,369,101			

5/4/2019 4:09 PM	III

Kendall Breeze Community Development District Assessment Comparison

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

22	Administrative	$	79.95	
$	79.91	
$	66.12	
$	66.10	
	Maintenance	$	110.93	$	110.93	$	124.62	$	124.62	
	Debt	$	486.88	$	486.88	$	486.88	$	486.88	
	Sub-Total For Lot Size 22	$	677.76	$	677.72	$	677.62	$	677.60	

30	Administrative	$	79.95	
$	79.91	
$	66.12	
$	66.10	
	Maintenance	$	110.93	$	110.93	$	124.62	$	124.62	
	Debt	$	550.81	$	550.81	$	550.81	$	550.81	
	Sub-Total For Lot Size 30	$	741.69	$	741.65	$	741.55	$	741.53	

35	Administrative	$	79.95	
$	79.91	
$	66.12	
$	66.10	
	Maintenance	$	110.93	$	110.93	$	124.62	$	124.62	
	Debt	$	590.77	$	590.77	$	590.77	$	590.77	
	Sub-Total For Lot Size 35	$	781.65	$	781.61	$	781.51	$	781.49	

60	Administrative	$	79.95	
$	79.91	
$	66.12	
$	66.10	
	Maintenance	$	110.93	$	110.93	$	124.62	$	124.62	
	Debt	$	790.55	$	790.55	$	790.55	$	790.55	
	Sub-Total For Lot Size 60	$	981.43	$	981.39	$	981.29	$	981.27	

* 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	

5/4/2019 4:09 PM	IV