Veranda
Community Development District

Final Budget For Fiscal Year 2020/2021
October 1, 2020 - September 30, 2021

CONTENTS

FINAL BUDGET

DETAILED FINAL BUDGET

DETAILED FINAL DEBT SERVICE FUND BUDGET IV	ASSESSMENT COMPARISON

FINAL BUDGET
VERANDA COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2020/2021 BUDGET	
O & M Assessments	87,067	
Debt Assessments	300,781	
Other Revenue - Stormwater Fees	0	
Interest Income	240	
		
TOTAL REVENUES	$	388,088	
		
EXPENDITURES		
Supervisor Fees	0	
Payroll Taxes - Employer	0	
Engineering/Inspections	2,000	
Management	36,084	
Legal	13,500	
Assessment Roll	5,000	
Audit Fees	3,700	
Insurance	6,600	
Legal Advertisements	1,200	
Miscellaneous	1,300	
Postage	225	
Office Supplies	650	
Dues & Subscriptions	175	
Trustee Fee	3,500	
Continuing Disclosure Fee	1,000	
Additional Stormwater Reserve Funding	0	
TOTAL EXPENDITURES	$	74,934	
		
REVENUES LESS EXPENDITURES	$	313,154	
		
Bond Payments	(282,734)	
		
BALANCE	$	30,420	
		
Tax Collector Fee	(7,605)	
Property Appraiser Fee	(7,605)	
Discounts For Early Payments	(15,210)	
		
EXCESS/ (SHORTFALL)	$	-	
		
Carryover Funds From Prior Year	0	
		
NET EXCESS/ (SHORTFALL)	$	-	

5/1/2020 9:09 AM	I

DETAILED FINAL BUDGET
VERANDA COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	
FISCAL YEAR 2018/2019 ACTUAL	
FISCAL YEAR 2019/2020 BUDGET	
FISCAL YEAR 2020/2021 BUDGET	

COMMENTS	
O & M Assessments	88,665	87,930	87,067	Expenditures Less Interest/Discounts & Fees	
Debt Assessments	303,077	300,781	300,781	Bond Payments/Discounts & Fees	
Other Revenue - Stormwater Fees	38,848	0	0		
Interest Income	493	180	240	Interest Projected At $20 Per Month	
					
TOTAL REVENUES	431,083	$	388,891	$	388,088		
					
EXPENDITURES					
Supervisor Fees	0	0	0		
Payroll Taxes - Employer	0	0	0		
Engineering/Inspections	877	2,500	2,000	$500 Decrease From 2019/2020 Budget	
Management	34,632	35,280	36,084	CPI Adjustment	
Legal	1,921	14,500	13,500	$1,000 Decrease From 2019/2020 Budget	
Assessment Roll	5,000	5,000	5,000	As Per Contract	
Audit Fees	3,500	3,600	3,700	$100 Increase From 2019/2020 Budget	
Insurance	6,041	6,600	6,600	Insurance Estimate	
Legal Advertisements	723	1,200	1,200	No Change From 2019/2020 Budget	
Miscellaneous	227	1,400	1,300	$100 Decrease From 2019/2020 Budget	
Postage	148	225	225	No Change From 2019/2020 Budget	
Office Supplies	276	675	650	$25 Decrease From 2019/2020 Budget	
Dues & Subscriptions	175	175	175	No Change From 2019/2020 Budget	
Trustee Fee	3,500	3,500	3,500	No Change From 2019/2020 Budget	
Continuing Disclosure Fee	1,000	1,000	1,000	No Change From 2019/2020 Budget	
Additional Stormwater Reserve Funding	0	0	0	Additional Stormwater Reserve Funding	
TOTAL EXPENDITURES	58,020	$	75,655	$	74,934		
					
REVENUES LESS EXPENDITURES	373,063	$	313,236	$	313,154		
					
Bond Payments	(285,671)	(282,734)	(282,734)	2021 P & I Payments Less Earned Interest	
					
BALANCE	87,392	$	30,502	$	30,420		
					
Tax Collector Fee	(5,917)	(7,626)	(7,605)	Two Percent Of Total Assessment Roll	
Property Appraiser Fee	(7,814)	(7,626)	(7,605)	Two Percent Of Total Assessment Roll	
Discounts For Early Payments	(14,978)	(15,250)	(15,210)	Four Percent Of Total Assessment Roll	
					
EXCESS/ (SHORTFALL)	$	58,683	$	-	$	-		
					
Carryover Funds From Prior Year	0	0	0	Carryover Funds From Prior Year	
					
NET EXCESS/ (SHORTFALL)	$	58,683	$	-	$	-		

5/1/2020 9:09 AM	II

DETAILED FINAL DEBT SERVICE FUND BUDGET
VERANDA COMMUNITY DEVELOPMENT DISTRICT FISCAL YEAR 2020/2021
OCTOBER 1, 2020 - SEPTEMBER 30, 2021

REVENUES	

FISCAL YEAR

2018/2019

ACTUAL	

FISCAL YEAR

2019/2020

BUDGET	

FISCAL YEAR

2020/2021

BUDGET	

COMMENTS	

Interest Income	
7,162	
200	
200	
Projected Interest For 2020/2021	

NAV Tax Collection	
285,671	
282,734	
282,734	
Maximum Debt Service Collection	

Prepaid Bond Collection	
30,840	
0	
0		

Total Revenues	
$	323,673	
$	282,934	
$	282,934		

EXPENDITURES					

Principal Payments	
75,000	
80,000	
85,000	
Principal Payment Due In 2021	

Interest Payments	
206,813	
201,800	
197,563	
Interest Payments Due In 2021	

Bond Redemption	
10,000	
1,134	
371	
Estimated Excess Debt Collections	

Total Expenditures	
$	291,813	
$	282,934	
$	282,934		

Excess/ (Shortfall)	

$	31,860	

$	-	

$	-		

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 1/1/20 =	
$3,970,000			

5/1/2020 9:09 AM	III

VERANDA COMMUNITY DEVELOPMENT DISTRICT ASSESSMENT COMPARISON

Original
Projected	
Fiscal Year	
Fiscal Year	
Fiscal Year	
Fiscal Year	
Debt	2017/2018	2018/2019	2019/2020	2020/2021	
 	Assessment*		 	Assessment*		 	Assessment*		      Assessment* 	    Projected Assessment* 	

O & M For Single Family 42' Unit	$	-	
$	236.47	
$	234.32	
$	232.62	
$	230.34	
Debt For Single Family 42' Unit	$	606.00	$	606.00	$	606.00	$	606.00	$	606.00	
Total For Single Family 42' Unit	$	606.00	$	842.47	$	840.32	$	838.62	$	836.34	
O & M For Single Family 52' Unit	$	-	$	236.47	$	234.32	$	232.62	$	230.34	
Debt For Single Family 52' Unit	$	779.00	$	779.00	$	779.00	$	779.00	$	779.00	
Total For Single Family 52' Unit	$	779.00	$	1,015.47	$	1,013.32	$	1,011.62	$	1,009.34	
O & M For Single Family 66' Unit	$	-	$	236.47	$	234.32	$	232.62	$	230.34	
Debt For Single Family 66' Unit	$	987.00	$	987.00	$	987.00	$	987.00	$	987.00	
Total For Single Family 66' Unit	$	987.00	$	1,223.47	$	1,221.32	$	1,219.62	$	1,217.34	

* 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

5/1/2020 9:09 AM	IV