Veranda
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
VERANDA COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2018/2019
OCTOBER 1, 2018 - SEPTEMBER 30, 2019

REVENUES	
FISCAL YEAR 2018/2019 BUDGET	
O & M Assessments	88,570	
Developer Contribution - O & M	0	
Debt Assessments	303,117	
Developer Contribution - Debt	0	
Other Revenue - Stormwater Fees	0	
Interest Income	120	
		
TOTAL REVENUES	$	391,807	
		
EXPENDITURES		
Supervisor Fees	0	
Payroll Taxes - Employer	0	
Engineering/Inspections	2,500	
Management	34,632	
Legal	16,000	
Assessment Roll	5,000	
Audit Fees	3,500	
Arbitrage Rebate Fee	0	
Insurance	6,200	
Legal Advertisements	1,200	
Miscellaneous	1,500	
Postage	250	
Office Supplies	700	
Dues & Subscriptions	175	
Trustee Fee	3,500	
Continuing Disclosure Fee	1,000	
TOTAL EXPENDITURES	$	76,157	
		
REVENUES LESS EXPENDITURES	$	315,650	
		
Bond Payments	(284,930)	
		
BALANCE	$	30,720	
		
Tax Collector Fee	(7,680)	
Property Appraiser Fee	(7,680)	
Discounts For Early Payments	(15,360)	
		
EXCESS/ (SHORTFALL)	$	-	
		
Carryover Funds From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

5/29/2018 6:31 PM	I

DETAILED FINAL BUDGET
VERANDA 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	
O & M Assessments	34,878	89,386	88,570	Expenditures Less Interest/Discounts & Fees	
Developer Contribution - O & M	51,963	0	0		
Debt Assessments	119,261	303,117	303,117	Bond Payments/Discounts & Fees	
Developer Contribution - Debt	329,297	0	0		
Other Revenue - Stormwater Fees	34,199	0	0		
Interest Income	216	60	120	Interest Projected At $10 Per Month	
					
TOTAL REVENUES	569,814	$	392,563	$	391,807		
					
EXPENDITURES					
Supervisor Fees	0	0	0		
Payroll Taxes - Employer	0	0	0		
Engineering/Inspections	0	2,500	2,500	No Change From 2017/2018 Budget	
Management	33,228	33,924	34,632	CPI Adjustment	
Legal	1,945	17,000	16,000	$1,000 Decrease From 2017/2018 Budget	
Assessment Roll	3,000	5,000	5,000	As Per Contract	
Audit Fees	3,300	3,400	3,500	$100 Increase From 2017/2018 Budget	
Arbitrage Rebate Fee	0	650	0	District Qualifies For Small User Exception	
Insurance	5,253	6,000	6,200	Fiscal Year 2017/2018 Expenditure Was $5,776	
Legal Advertisements	743	1,200	1,200	No Change From 2017/2018 Budget	
Miscellaneous	117	1,500	1,500	No Change From 2017/2018 Budget	
Postage	58	250	250	No Change From 2017/2018 Budget	
Office Supplies	236	750	700	$50 Decrease From 2017/2018 Budget	
Dues & Subscriptions	175	175	175	No Change From 2017/2018 Budget	
Trustee Fee	3,500	3,500	3,500	No Change From 2017/2018 Budget	
Continuing Disclosure Fee	1,000	1,000	1,000	No Change From 2017/2018 Budget	
TOTAL EXPENDITURES	52,555	$	76,849	$	76,157		
					
REVENUES LESS EXPENDITURES	517,259	$	315,714	$	315,650		
					
Bond Payments	(442,775)	(284,930)	(284,930)	2019 P & I Payments Less Earned Interest	
					
BALANCE	74,484	$	30,784	$	30,720		
					
Tax Collector Fee	(2,142)	(7,696)	(7,680)	Two Percent Of Total Assessment Roll	
Property Appraiser Fee	(3,083)	(7,696)	(7,680)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(4,476)	(15,392)	(15,360)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	64,783	$	-	$	-		
					
Carryover Funds From Prior Year	0	0	0	Carryover Funds From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	64,783	$	-	$	-		

5/29/2018 6:31 PM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET
VERANDA 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	
1,677	
0	
100	
Projected Interest For 2018/2019	

Developer Contribution	
156,556	
0	
0	

November 2016 P&I Payment Was Developer Funded	

NAV Tax Collection	
286,219	
284,930	
284,930	
Maximum Debt Service Collection	

Total Revenues	
$	444,452	
$	284,930	
$	285,030		

EXPENDITURES					

Principal Payments	
50,000	
75,000	
75,000	
Principal Payment Due In 2019	

Interest Payments	
212,113	
208,313	
205,313	
Interest Payments Due In 2019	

Bond Redemption	
0	
1,617	
4,717	
Estimated Excess Debt Collections	

Total Expenditures	
$	262,113	
$	284,930	
$	285,030		

Excess/ (Shortfall)	

$	182,339	

$	-	

$	-		

Series 2015 Bond Information

Original Par Amount =	$4,270,000	Annual Principal Payments Due =	November 1st	
Interest Rate = Issue Date = Maturity Date =	4.00% - 5.25%
September 2015
November 2045	Annual Interest Payments Due =	May 1st & November 1st	

Par Amount As Of 1/1/18 =	
$4,150,000			

5/29/2018 6:31 PM	III

VERANDA COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

Original
Projected	
Fiscal Year	
Fiscal Year	
Fiscal Year	
Debt	2016/2017	2017/2018	2018/2019	
 	Assessment*		 	Assessment*		 	Assessment*		    Projected Assessment* 	

O & M For Single Family 42' Unit	
$	
-	
$	
238.28	
$	
236.47	
$	
234.32	
Debt For Single Family 42' Unit	$	606.00	$	606.00	$	606.00	$	606.00	
Total For Single Family 42' Unit	$	606.00	$	844.28	$	842.47	$	840.32	
O & M For Single Family 52' Unit	$	-	$	238.28	$	236.47	$	234.32	
Debt For Single Family 52' Unit	$	779.00	$	779.00	$	779.00	$	779.00	
Total For Single Family 52' Unit	$	779.00	$	1,017.28	$	1,015.47	$	1,013.32	
O & M For Single Family 66' Unit	$	-	$	238.28	$	236.47	$	234.32	
Debt For Single Family 66' Unit	$	987.00	$	987.00	$	987.00	$	987.00	
Total For Single Family 66' Unit	$	987.00	$	1,225.28	$	1,223.47	$	1,221.32	

* Assessments Include the Following : 4% Discount for Early Payments
1% County Tax Collector Fee
1% County Property Appraiser Fee

Community Information:
Single Family 42' Units: 69
Single Family 52' Units: 210 Single Family 66' Units: 99 Total:	378 Units

5/29/2018 6:31 PM	IV