Veranda
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
VERANDA COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2019/2020
OCTOBER 1, 2019 - SEPTEMBER 30, 2020

REVENUES	
FISCAL YEAR 2019/2020 BUDGET	
O & M Assessments	87,930	
Developer Contribution - O & M	0	
Debt Assessments	300,781	
Developer Contribution - Debt	0	
Other Revenue - Stormwater Fees	0	
Interest Income	180	
		
TOTAL REVENUES	$	388,891	
		
EXPENDITURES		
Supervisor Fees	0	
Payroll Taxes - Employer	0	
Engineering/Inspections	2,500	
Management	35,280	
Legal	14,500	
Assessment Roll	5,000	
Audit Fees	3,600	
Insurance	6,600	
Legal Advertisements	1,200	
Miscellaneous	1,400	
Postage	225	
Office Supplies	675	
Dues & Subscriptions	175	
Trustee Fee	3,500	
Continuing Disclosure Fee	1,000	
TOTAL EXPENDITURES	$	75,655	
		
REVENUES LESS EXPENDITURES	$	313,236	
		
Bond Payments	(282,734)	
		
BALANCE	$	30,502	
		
Tax Collector Fee	(7,626)	
Property Appraiser Fee	(7,626)	
Discounts For Early Payments	(15,250)	
		
EXCESS/ (SHORTFALL)	$	-	
		
Carryover Funds From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

6/2/2019 11:27 AM	I

DETAILED FINAL BUDGET
VERANDA 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	
O & M Assessments	61,203	88,570	87,930	Expenditures Less Interest/Discounts & Fees	
Developer Contribution - O & M	26,451	0	0		
Debt Assessments	205,877	303,117	300,781	Bond Payments/Discounts & Fees	
Developer Contribution - Debt	91,514	0	0		
Other Revenue - Stormwater Fees	36,873	0	0		
Interest Income	347	120	180	Interest Projected At $15 Per Month	
					
TOTAL REVENUES	422,265	$	391,807	$	388,891		
					
EXPENDITURES					
Supervisor Fees	0	0	0		
Payroll Taxes - Employer	0	0	0		
Engineering/Inspections	491	2,500	2,500	No Change From 2018/2019 Budget	
Management	33,924	34,632	35,280	CPI Adjustment	
Legal	1,845	16,000	14,500	$1,500 Decrease From 2018/2019 Budget	
Assessment Roll	5,000	5,000	5,000	As Per Contract	
Audit Fees	3,400	3,500	3,600	$100 Increase From 2018/2019 Budget	
Insurance	5,776	6,200	6,600	Fiscal Year 2018/2016 Expenditure Was $6,041	
Legal Advertisements	1,048	1,200	1,200	No Change From 2018/2019 Budget	
Miscellaneous	10	1,500	1,400	$100 Decrease From 2018/2019 Budget	
Postage	62	250	225	$25 Decrease From 2018/2019 Budget	
Office Supplies	299	700	675	$25 Decrease From 2018/2019 Budget	
Dues & Subscriptions	175	175	175	No Change From 2018/2019 Budget	
Trustee Fee	3,500	3,500	3,500	No Change From 2018/2019 Budget	
Continuing Disclosure Fee	1,000	1,000	1,000	No Change From 2018/2019 Budget	
TOTAL EXPENDITURES	56,530	$	76,157	$	75,655		
					
REVENUES LESS EXPENDITURES	365,735	$	315,650	$	313,236		
					
Bond Payments	(286,691)	(284,930)	(282,734)	2020 P & I Payments Less Earned Interest	
					
BALANCE	79,044	$	30,720	$	30,502		
					
Tax Collector Fee	(3,745)	(7,680)	(7,626)	Two Percent Of Total Assessment Roll	
Property Appraiser Fee	(5,340)	(7,680)	(7,626)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(8,710)	(15,360)	(15,250)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	61,249	$	-	$	-		
					
Carryover Funds From Prior Year	0	0	0	Carryover Funds From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	61,249	$	-	$	-		

6/2/2019 11:27 AM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET
VERANDA 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	
4,487	
100	
200	
Projected Interest For 2019/2020	

NAV Tax Collection	
286,691	
284,930	
282,734	
Maximum Debt Service Collection	

Total Revenues	
$	291,178	
$	285,030	
$	282,934		

EXPENDITURES					

Principal Payments	
70,000	
75,000	
80,000	
Principal Payment Due In 2020	

Interest Payments	
209,713	
205,313	
201,800	
Interest Payments Due In 2020	

Bond Redemption	
0	
4,717	
1,134	
Estimated Excess Debt Collections	

Total Expenditures	
$	279,713	
$	285,030	
$	282,934		

Excess/ (Shortfall)	

$	11,465	

$	-	

$	-		

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 1/1/19 =	
$4,075,000			

6/2/2019 11:27 AM	III

VERANDA COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

Original
Projected	
Fiscal Year	
Fiscal Year	
Fiscal Year	
Fiscal Year	
Debt	2016/2017	2017/2018	2018/2019	2019/2020	
 	Assessment*		 	Assessment*		 	Assessment*		      Assessment*		    Projected Assessment* 	

O & M For Single Family 42' Unit	$	-	
$	238.28	
$	236.47	
$	234.32	
$	232.62	
Debt For Single Family 42' Unit	$	606.00	$	606.00	$	606.00	$	606.00	$	606.00	
Total For Single Family 42' Unit	$	606.00	$	844.28	$	842.47	$	840.32	$	838.62	
O & M For Single Family 52' Unit	$	-	$	238.28	$	236.47	$	234.32	$	232.62	
Debt For Single Family 52' Unit	$	779.00	$	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	$	1,011.62	
O & M For Single Family 66' Unit	$	-	$	238.28	$	236.47	$	234.32	$	232.62	
Debt For Single Family 66' Unit	$	987.00	$	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	$	1,219.62	

* 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

Single Family 52' Information:
Total Units: 210
Prepayments: 3 Billed For Debt: 207

6/2/2019 11:27 AM	IV