Adopted Budget
Fiscal Year 2019

South	Village Community Development District

September 11, 2018

South Village	General Fund
Community Development District

Description

Adopted		Actual	Projected			Total	Adopted Budget			thru		Next	Projected at		Budget FY2018	7/31/2018	2 Months		9/30/2018		FY2019
Revenues
Maintenance Assessments� Tax Collector	$606,205	$611,450		$0	$611,450	$740,954 Maintenance Assessments - Direct		$1,267		$1,267		$0		$1,267		$1,267 Misc. Income			$0		$1,332	$100		$1,432			$0
Total Revenues	$607,472	$614,049	$100	$614,149	$742,221

Expenditures
Administrative
Supervisors Fees	$13,000	$17,800	$2,000	$19,800	$13,000
FICA Taxes	$1,000	$1,362	$153	$1,515	$1,000
Engineering	$15,000	$11,128	$3,709	$14,837	$15,000
Arbitrage	$1,200	$0	$1,800	$1,800	$1,800
Dissemination Agent	$5,000	$4,167	$1,389	$5,556	$5,000
Assessment Roll	$5,300	$5,260	$0	$5,260	$5,300
Attorney	$35,000	$34,718	$11,573	$46,291	$35,000
Annual Audit	$4,500	$0	$4,500	$4,500	$4,500
Trustee	$15,000	$11,556	$12,102	$23,658	$15,000

$833
$1,395

Management Fees	$45,000	$37,500	$12,500	$50,000	$45,000
Computer Time	$1,000	$278	$1,111	$1,000
Telephone	$500	$683	$228	$911	$500
Postage	$1,500	$465	$1,860	$1,500
Insurance	$7,200	$2,839	$0	$2,839	$7,200
Printing & Binding	$3,300	$4,502	$1,501	$6,003	$3,300
Legal Advertising	$1,000	$1,545	$515	$2,061	$1,000

$19

Other Current Charges	$1,200	$1,251	$250	$1,501	$1,200

Office Supplies	$100

$175

Dues, Licenses, Subscriptions	$200

$77	$100
$0	$175	$200

Contingency	$500	$0	$500	$500	$572
Sub-Total - Administrative Expenses	$156,500	$136,771	$53,481	$190,253	$157,172

Community Appearance
lnterlocal Agreement - MVCDD		$36,000		$35,893		$0		$35,893		$36,000 Landscape - Contract	$123,600	$111,376	$50,329	$161,706	$155,518
Landscape - Contingency	$30,000	$1,690	$5,000	$6,690	$30,000
* Personnel	$0	$0	$0	$199,408
Facility & Grounds Maintenance (Labor)	$31,200	$24,826	$12,413	$37,239		$0 Landscape - Irrigation Repairs	$10,000		$4,297		$2,149		$6,446	$10,500 Lake - Contract	$28,900	$17,334		$7,704	$25,038	$25,423
Operations Management	$43,000	$34,155	$14,333	$48,488	$0
Utilities	$105,000	$47,375	$33,839	$81,213	$95,000
Miscellaneous - Direct Cost		$20,000		$5,868	$2,934		$8,802		$10,000 Security		 $23,200	 $16,708                  $8,354	 $25,062	 $23,200  
Sub-Total - Community Appearance	$450,900	$299,522	$137,055	$436,578	$585,049

TOTAL EXPENDITURES	$607,400	$436,294	$190,536	$626,830	$742,221

$72

EXCESS REVENUES/(EXPENDITURES)	 	

    $177,756	($190,436)	($12,681)	$0

*Intended for maintenance of all District Owned Facility & Common Areas

South Village
Community Development District

Platted Lots	FY2018	FY2019	

Assessments - Platted Lots Net-Assessment Rate
Total Net Assessments - Tax Collector
Gross Assessment (6% Discounts/Collections) Gross Assessment - Per Unit

DFH Lots
Assessments - Platted Lots Net-Assessment Rate
Total Net Assessments - Tax Collector
Gross Assessment {6% Discounts/Collections) Gross Assessment - Per Unit	
1233
$1,010.50
$1,245,947
$1,325,475
$1,075

$70.41
$6,971
$7,415
$74.90	
1233
$1,104.50
$1,361,849
$1,448,775
$1,175

99
$1,104.50
$109,346
$116,325
$1,175.00	

IDirect Invoices

FY2019

Eagle Landing LP	13·04-24·005542·010-00	$1,267
 	$1,267 I

$740,954
$730,240
$1,471,194

General Fund Recreation Fund

$1,361,849
$109,346
$1,471,194

Allocation of On Roll Assessments:
Total Net Assessments - Tax Collector Platted Total Net Assessments - DFH Lots
Total Assessment - Tax Collector

2

South Village
Community Development District
GENERAL FUND BUDGET
REVENUES:

Assessments - Platted Lots
The District will assess the platted lots within the District to fund a portion of the District's operating budget for the fiscal year.

EXPENDITURES:

Administrative:
Engineering Fees
The District's engineer will be providing general engineering services to the District, i.e. attendance and preparation for monthly board meetings, review invoices, and various projects assigned as directed by the board of supervisors.
Arbitrage

The District is required to have an annual arbitrage rebate 2016A1/A2 and A3, Capital Improvement Refunding Bonds. independent CPA firm to perform this calculation.
Dissemination Agent

calculation prepared for the Series The District will contract with an

The District has contracted GMS, LLC to act as Dissemination Agent for the District to prepare the Annual Disclosure Report required by the Security and Exchange Commission in order to comply with Rule 15(c)(2)-12(b)(5), which relates to additional reporting requirements for un-rated bond issues.
Attorney
The District's legal counsel will be providing general legal services to the District, i.e. attendance and preparation for monthly meetings, review operating & maintenance contracts, agreements, etc.
Annual Audit
The District is required by Florida Statute to arrange for an annual audit of its financial records by an independent certified public accounting firm.
Trustee
The District's Series 2016A1/A2 and A3 Capital Improvement Refunding Bonds are held by a Trustee with US Bank, N.A. The amount represents the fee for the administration of the District's bond issue.
Assessment Roll
Assessment Roll administrative services are provided by Governmental Management Services, LLC for updating the districts' tax roll, certifying the annual assessments and collection of prepaid assessments.
3

South Village
Community Development District
GENERAL FUND BUDGET

Management Fees
The District receives Management, Accounting and Administrative services as part of a Management Agreement with Governmental Management Services, LLC. These services are further outlined in Exhibit "A" of the Management Agreement.

Computer Time

The District processes all of its financial activities, i.e. accounts payable, financial statements, etc. on a mainframe computer leased by Governmental Management Services, LLC

Telephone
This category includes all charges relating to telephone calls, conference calls, and faxes made to and on behalf of the District.
Postage
Mailing of agenda packages, overnight deliveries, correspondence, etc.
Insurance
The District's General Liability & Public Officials Liability Insurance policy is with Florida Insurance Alliance. FIA specializes in providing insurance coverage to governmental agencies.
Printing & Binding
This category includes expenses relating to the printing and binding of agenda packages for board meetings, accounts payable checks, stationary, envelopes, photocopies, etc.
Legal Advertising
The District is required to advertise various notices for board meetings, public hearings, etc. in a newspaper of general circulation.
Other Current Charges
Bank charges and any other miscellaneous expenses incurred during the year.
Office Supplies

Miscellaneous office supplies.
Dues, Licenses & Subscriptions
The District is required to pay an annual fee to the Department of Economic Opportunity for $175. This is the only expense under this category for the District.

4

South Village
Community Development District
GENERAL FUND BUDGET

Community Appearance
lnterlocal Agreement - Middle Village COD
The District has entered into an agreement with Middle Village COD for the maintenance and repair of certain landscape areas and associated irrigation systems which are located within the Right-of-Way of Oakleaf Plantation Boulevard.
Personnel

Costs associated with management and maintenance of community appearance.
Landscape

This represents landscape maintenance of all District property, to include mowing, weeding, trimming, pruning, fertilizing etc. The District is contracted with Tree Amigos. The contract is $12,959.81 per month, or $155,517.72 annually..
Facility & Grounds Maintenance
Represents contracted amount paid to Eagle Landing Limited Partnership for a full time contracted maintenance labor employee.
Landscape - Irrigation Repairs
This represents repairs to the District's irrigation systems which are not already included in contract with Tree Amigos.
Operations Management
Represents contracted amount paid to Eagle Landing Limited Partnership for management of the operations and related contracts of District facilities and common areas.
Lake Maintenance
The District has contracted with Lake Doctor's for monthly aquatic plant management in 29 ponds. Services provide labor, equipment, herbicides and technology to control cattails, pennywort, primrose and algae. The contract is $1,926 per month, or $23,112 annually. Amount budgeted includes a 10% contingency.
Utilities

The District currently has the following accounts with Clay Electric Cooperative for electric service:

Account#	Service Address	Monthly	Annually	
587548-9	3935-1 Eagle Landing/Water Fall	$	350.00	$	4,200.00	
592937-7	3935-2 Eagle Landing/St Lights	$	150.00	$	1,800.00	
647443-1	4045-2 Eagle Crossing Drive	$	60.00	$	750.00	
	Contingency		$ 10,000.00	
		Total	$ 16,750.00	
5

South Village
Community Development District
GENERAL FUND BUDGET

In addition, the District has the following accounts with Clay County Utility Authority for water, sewer and reuse service:

Account#	Service Address	Monthly	Annually

00213095	3924-1 Eagle Landing Pkwy	$ 500.00	$	6,000.00	
00213119	3988-1 Eagle Landing Parkway	$ 160.00	$	1,920.00	
00215602	3968-1 Eagle Landing Parkway	$ 180.00	$	2,160.00	
00220803	3973 Eagle Landing Parkway	$ 115.00	$	1,380.00	
00222067	3989 Eagle Landing Parkway	$ 850.00	$	10,200.00	
00229064	3979-2 Eagle Landing Parkway	$2,015.00	$	24,180.00	
00230632	3965-1 Eagle Landing Parkway	$	60.00	$	720.00	
00230638	3965-2 Eagle Landing Parkway	$	50.00	$	600.00	
00230640	3965-3 Eagle Landing Parkway	$ 170.00	$	2,040.00	
00230641	3975 Eagle Landing Parkway	$ 275.00	$	3,300.00	
00230642	3979 Eagle Landing Parkway	$ 205.00	$	2,460.00	
00233750	1433-1 Eagle Landing Parkway	$ 120.00	$	1,440.00	
00502768	2180 Club Lake Drive Reclaimed Irr	$	27.00	$	324.00	
00502779	2319 Club Lake Drive Reclaimed Irr	$	35.00	$	420.00	
00556739	1294 Autumn Pines Drive	$	25.00	$	300.00	

 	

Misc - Direct Costs

Contingency	$	13,096.00

Total	$	70,000.00

Represents any expenses not included in the other categories.
Security
The District has contracted with the Clay County Sheriff's Office for security.

6

South Village
COMMUNITY DEVELOPMENT DISTRICT

CAPITAL RESERVE
FY2019

 	 	 	 	 	

$133

$532

Description	

Adopted Budget FY2018

Actual thru 7/31/2018

Projected Next
2 Months

Total Projected at 9/30/2018

Adopted Budget FY2019

REVENUES:		
Maintenance Assessments	$115,902		$117,003	$0		$117,003		$250,416	
Interest Income	$0		$370	$0		$370		$0	
Carry Foiward Surplus	$47,297		$410	$0		$410		$63,358	
TOTAL REVENUES	    $163,199 		   $117,784	 	$0		    $117,784		$313,774	
EXPENDITURES:									
Capital Outlay/Repair & Replacement	$0		$38,894	$15,000		$53,894		$250,000	
Other Current Charges	$300		$399					$300	
TOTAL EXPENDITURES	 	$300		 	$39,293	 	$15,133		 	$54,426 		   $250,300	
ASSIGNED FUND BALANCE	$162,899		$78,491	($15,133)		$63,358		$63,474	
			IPlatted Lots			
FY2018		
FY2019J	
Assessments - Platted Lots	1233	1332	
Net-Assessment Rate	$94.00	$188.00	
Total Net Assessments - Tax Collecto	$115,902	$250,416	
Gross Assessment (6% Discount)	$123,300	$266,400	

!Gross Assessment - Per Unit	$100.00	$200.00 I

7

South Village	Recreational Fund
Community Development District

Amended	Actual	Projected		Total	Adopted Budget		thru		Next	Projected at		Budget
 	FY2018		7/31/2018	2 Months	9/30/2018	FY2019

Revenues:

Tennis:
Guest Fees	$4,300	$3,284	$800	$4,084	$4,300
Pro Shop Merchandise	$12,000	$5,963	$1,000	$6,963	$12,000
Fitness			$4,500			$2,907		$400		$3,307		$4,500 Lessons & Clinics	 	$54,600 		$38,014            $8,500             $46,514             $54,600 Sub Total		$75,400	$50,168	$10,700	$60,868	$75,400

Pools:
Guest	$4,700	$5,390	$1,410	$6,800	$4,700
Swim Lessons	$6,300	$5,370	$530	$5,900	$6,300
Rentals			$600		$0		$0		$0		$600 Clubroom Rentals		$12,000	$18,047	$5,000	$23,047	$20,000 Swim Team	 	$12,000 	$11,116 		$0               $11,116               $12,000
Sub Total	$35,600	$39,923	$6,940	$46,863	$43,600

Cafe:

Kids:

Food	$52,100	$46,158	$14,000	$60,158	$55,000
Merchandise	$9,000	$6,845	$1,600	$8,445	$9,000
Wine	$1,000	$182	$220	$402	$1,000
Liquor	$21,400	$16,410	$8,300	$24,710	$21,400
Beer	$13,400	$6,295	$2,900	$9,195	$13,400
Sundries	 	$370	 	$684	 	$0	 	$684	 	$370
Sub Total	$97,270	$76,575	$27,020	$103,595	$100,170

Facility Rentals	$300	$0	$300	$300	$300
Summer Camp	$22,000	$14,200	$2,500	$16,700	$24,000
Programs	$9,000	$14,601	$2,500	$17,101	$9,000

Social Programs	$2,200	$3,577	$300

$2,200

Holiday Events	 	$0	 	$89	 	$500	 	$589	 	$0
Sub Total	$33,500	$32,467	$6,100	$38,567	$35,500

Carry Forward Surplus	$58,049		$0	$0	$0		
G&A - Other Income	$0		$0	$5,000	$5,000		
Interest Income	$0		$148		$198	$0	
Total Gross Revenues	$946,531		$852,137	$145,529	$997,666	$1,119,659	
Total Net Revenues	$946,531		$852,137	    $145,529	 	$997,666	$1,119,659	

Maintenance Assessments	$646,712	$652,857	$89,719	$742,576	$864,989

$50

8

South Village	Recreational Fund

Amended
Budget		Actual
thru		Projected
Next		Total
Projected at		Adopted
Budget	
 	FY2018			     7/31/2018 		  2 Months		    9/30/2018 		     FY2019 	

Community Development District	Continued

Expenses:

Personnel	$222,616		$186,761	$35,855	$222,616	$222,616	
Security	$300		$883	$500	$1,383	$300	
Cable	$2,400		$2,082	$318	$2,400	$2,400	
Electric	$36,500		$21,509	$14,991	$36,500	$36,500	
Repairs and Maintenance	$7,200		$11,722	$2,500	$14,222	$7,200	
Court Maint.	$10,000		$3,718	$6,282	$10,000	$10,000	
Waste Removal	$4,200		$4,986	$1,620	$6,606	$6,000	
Office Supplies	$1,000		$679	$321	$1,000	$1,000	
Paper & Cleaning	$3,000		$4,345	$250	$4,595	$3,700	
Recreational Supplies	$2,400		$1,854	$546	$2,400	$2,400	
Merchandise	 	$7,000		 	$1,657	 	$5,343	 	$7,000 	 	$7,000	
Sub Total	$296,616		$240,195	$68,526	$308,722	$299,116	
:
Personnel	
$220,097		
$168,244	
$51,853	
$220,097	
$220,097	
Security	$300		$0	$300	$300	$300	
Electric	$43,600		$39,305	$4,295	$43,600	$43,600	
Water and Sewer	$5,100		$6,525	$2,175	$8,700	$8,400	
Gas	$7,900		$7,831	$69	$7,900	$7,900	
Repairs and Maint.	$6,000		$4,704	$1,296	$6,000	$6,000	
Pool Maintenance	$20,400		$13,541	$6,859	$20,400	$20,400	
Miscellaneous	$200		$0	$200	$200	$200	
First Aid/Safety	$400		$673	$0	$673	$400	
Employee Training	$200		$1,448	$250	$1,698	$200	
Swim Team	$4,000		$3,229	$771	$4,000	$4,000	
Office Supplies	$1,200		$1,067	$133	$1,200	$1,200	
Paper & Cleaning Supplies	$2,400		$2,659		$2,659	$2,400	
Recreational Supplies	$900				$900	$900	
Pool Chemicals	$10,200		$11,926	$3,825	$15,751	$15,300	
Permits	 	$900		 	$875	 		 	$900	 	$900	
Sub Total	 	$323,797		 	$262,869	 	$72,108	 	$334,978	 	$332,197	
:
Personnel	
$37,913		
$24,393	
$13,520	
$37,913	
$37,913	
Telephone	$0		$3,729	$1,500	$5,229	$0	
Cable	$1,600		$1,395	$205	$1,600	$1,600	
Gas	$3,000		$1,762	$1,238	$3,000	$3,000	
Repairs & Maint.	$1,800		$3,556	$500	$4,056	$1,800	
Pest Control	$2,500		$1,638	$862	$2,500	$2,700	
Waste Removal	$4,400		$4,986	$1,620	$6,606	$6,000	
Miscellaneous Exp.	$0		$0	$0	$0	$0	
Paper & Cleaning Supplies	$4,500		$4,662	$1,000	$5,662	$4,500	
Food	$24,000		$28,959	$7,500	$36,459	$32,000	
Recreational Supplies	$1,600		$1,046	$554	$1,600	$1,600	
Merchandise	$3,400		$7,627	$1,500	$9,127	$3,400	
Beer	$6,700		$3,436	$1,500	$4,936	$6,700	
Liquor	$8,600		$8,536	$2,000	$10,536	$8,600	
Permits	 	$500		 	$273	 	$227	 	$500	 	$500	
Sub Total	 	$100,513		 	$95,997	 	$33,727	 	$129,724	 	$110,313	
		
9					

Tennis:

Pool

$844

$56

Cafe

South Village	Recreational Fund
Community Development District	Continued

Amended
Budget		Actual
thru		Projected
Next		Total
Projected at		Adopted
Budget	
 	FY2018			     7/31/2018 		  2 Months 		    9/30/2018 		     FY2019 	

Administrative
Management Fee (Honour Golf)	$0	$0	$0	$0	$48,000	
Personnel	$12,340	$17,250	$3,500	$20,750	$12,340	
Accounting	$41,000	$20,000	$21,000	$41,000	$41,000	
Computers/IT	$5,000	$5,150	$500	$5,650	$5,000	
Telephone/Internet	$4,700	$2,938	$1,762	$4,700	$7,400	
Postage	$100	$0	$100	$100	$100	
Printing	$3,400	$378	$3,022	$3,400	$3,400	
Miscellaneous	$4,900	$11,868	$3,956	$15,824	$12,000	
Credit Card Fees	$3,700	$5,308	$1,769	$7,077	$5,000	
Operating Supplies	$0	$0	$0	$0	$0	
Decorations	$0	$0	$0	$0	$0	
Permits	$1,000	$203	$797	$1,000	$1,000	
Insurance	 	$34,200	 	$25,082	 	$9,118	 	$34,200 	 	$34,200	
Sub Total	 	$110,340	 	$88,177	 	$45,525	 	$133,701	 	$169,440	
Kids Club Programs:
						
Personnel	$31,817	$26,857	$4,960	$31,817	$31,817	
Equipment Rental	$600	$605	$0	$605	$600	
Repairs & Maintenance	$1,800	$2,343	$0	$2,343	$1,800	
Holiday Events	$7,500	$8,169	$600	$8,769	$7,500	
Summer Camp	$3,500	$1,644	$1,856	$3,500	$3,500	
Social Events	 	$3,500	 	$3,268	 	$232	 	$3,500 	 	$3,500	
Sub Total	 	$48,717		 	$42,886		 	$7,648		 	$50,534		 	$48,717	
Lake House:										
Electric	$700		$924		$308		$1,232		$1,100	
Repairs & Maintenance	$1,000		$3,140		$1,500		$4,640		$1,000	
Miscellaneous	 	$0		 	$0		 	$0		 	$0 		 	$0	
Sub Total	 	$1,700		 	$4,064		 	$1,808		 	$5,872		 	$2,100	
Total Expenses	 	$881,683		 	$734,188		    $229,342		 	$963,531		$961,883	
										
Excess Revenues/(Expenditures)	$64,848		$117,949				$34,135		$157,776	

($83,813)

10

South Village
Community Development District
RECREATIONAL FUND BUDGET

REVENUES:
Assessments
The District will levy a maintenance assessment on all assessable property within the district.

Swim & Tennis Revenues
Tennis:
Guest Fees - Fees collected for non-resident usage of Athletic Center facilities, fitness & tennis programs while accompanied with a resident.
Pro Shop Merchandise - The sale of drinks, tennis balls, apparel and equipment. Fitness - Rental funds collected from vendors: Ship Shape Strong, LLC for TRX classes & Monica Fitzpatrick for Zumba classes.
Lessons & Clinics - Funds collected from patrons of private tennis lessons & group clinics given by East West Partners staff.

Pools:

Cafe:

Kids:

Guest Fees - Funds collected for non-resident usage of the Swim Park while accompanied with a resident.
Swim Lessons - Funds collected for private, semi-private and group swim lessons given by East West Partners staff.
Rentals - Funds collected from resident rentals of the Clubroom, Cafe Patio and Village Green for parties and events. Vintage Grace Church rents every Sunday morning. Rental fees collected from Atlantic Coast Diving and North Florida Diving are also shown here.
Swim Team - Registration fees for our summer swim team Eagle Rays.
Food - Sales of food, drinks and ice cream. Merchandise - Candy sales from the Village Store. Wine - Wine sales from the Cabana Bar.
Liquor - Liquor drinks and shots sold from the Cabana Bar. Beer - Beer sold from the Cafe and Cabana Bar.
Sundries - Sale of bags, cups, sunscreen and some novelty candy from Village Store.

Facility Rentals - Private parties and Church events. Summer Camp - Camp held while school is not in session.
Programs - Kid events such as Kids Only Parties and Gimmie a Break. Social Programs - Family events.
Holiday Events - Easter basket deliveries and other Holiday events with a fee.

11 

South Village
Community Development District
RECREATIONAL FUND BUDGET

EXPENDITURES:

Swim and Tennis Expenses

Tennis:
Salaries/Wages - Salaries for Tennis Director, Assistant Tennis Pro, Front Desk, Floating Position and Social Membership Coordinator
Security - Alarm service and monitoring with Access Limited for Athletic Center. Cable - Comcast cable services for workout facility.
Electric - Clay Electric for the Athletic Center
Repairs and Maintenance - General repairs to the building, HVAC systems and workout equipment.
Court Maint. - Costs for clay, windscreens, nets/posts and light bulbs on the court.

Waste Removal - Provided by Waste Management
Office Supplies - Pens, printing supplies, folders, small equipment. Paper and Cleaning - Cleaning solutions, paper towels, toilet paper and equipment wipes.

Recreational Supplies - Basketballs, nets, ping pong equipment, etc. Merchandise - Tennis Balls, Drinks and Fitness apparel for sale.

Pool:

Salaries/Wages - Salaries for Recreation Director, Pool Maintenance, Front Desk and
Lifeguards.
Security - Alarm service and monitoring for Residents Club, Cabana Bar and Pool.
Cable - Comcast service for clubroom. Not active currently.
Electric - Clay Electric Service for Residents Club and pool equipment. Water and Sewer - CCUA water service for pool facility.
Gas - Western Natural Gas provides gas for pool heater.
Repairs and Maint. - General repairs to Residents Club building HVAC systems and small equipment.
Pool Maintenance - Repairs made to pool equipment, the pools, waterslide/diving boards.
Miscellaneous - Any odd expense that doesn't fit appropriately elsewhere. First Aid/Safety - To replenish first aid kids and lifeguard accessories.
Employee Training - Expenses to cover key staff member recertifications. Swim Team - T-shirts, caps, trophies, banquet food and software/equipment, league fees to First Coast Summer Swim League for Eagle Rays summer swim team.
Office Supplies - Pens, receipt paper, ink, tape, envelopes, etc.
Paper and Cleaning Supplies - Paper towels, toilet paper, hand soap, cleaning solutions.
Recreational Supplies - Pool floats, balls, toys, ping pong and billiard equipment. Pool Chemicals - Agreement with Poolsure to provide chemicals and feed equipment.
Permits - Pool Operating permit fees for four pools through State of FL DOH.

12 

Cafe:

South Village
Community Development District
RECREATIONAL FUND BUDGET

Salaries/Wages - Wages for Cafe/Store counter staff, cooks and Cabana Bar bartender & bar back.
Cable - Comcast cable service to Cafe, patio and Cabana Bar.
Gas - Gas for kitchen equipment provided by Western Natural Gas. Repairs & Maint - Any repairs to cafe/cabana area and equipment.
Pest Control - Monthly pest control services for Cafe provided by Ecolab. Waste Removal - Waste Management trash and recycling pickup.
Paper & Cleaning Supplies - Sanitizers, soaps, cups, paper towels, food trays. Food - Food products purchased through Sysco.
Recreational Supplies - Small wares and appliances.
Beer - Canned beer products purchased through Champion and North FL Sales. Liquor - Spirits purchased through Southern Glazer's Wine and Spirits.
Permits - Seating License and Liquor License for Cafe/Cabana Bar.

Administrative:
Management Fees - Management fees to Honours Golf
Salaries/Wages - General employee benefits, screening and payroll fees. Attorney - Any legal fees associated directly with the Recreation Fund.
Computers/IT - Fees paid to TAI and IT assistance to GMS. Telephone - Service provided by RingCentral.

Postage - Mailing fees for equipment repair and various letters. Printing - Adobe software fees to create online newsletter and other publications.
Miscellaneous - other costs that do not fit in other areas.
Credit Card Fees - To receive payments from credit processor Elavon. Decorations - Holiday decorations used around amenities and common areas. Permits - Music licensing permits.
I nsurance - Amenity property insurance.
Programs:
Management Fees - Labor costs for summer camp, kid's only parties, holiday events, gimmie a break, social events and teen events.
Electric - Clay Electric services to the Kid's Club. Equipment Rental - Helium tank rental with Praxair.

Repairs & Maintenance - Anything within the Kid's Club and playground. Holiday Events - Costs for major holiday features including Halloween, Christmas Carnival, Easter, Memorial, 4th of July and Labor Day weekend.
Summer Camp - Arts & craft supplies, snacks & drinks, pizza parties on Fridays, toys and games to provide for summer camp kids.
Social Events - Dive in movie supplies and other event costs for the residents.
Lake House:
Electric - Clay Electric service for the Lakehouse HVAC and lighting.
Repairs & Maintenance - Specific to the Lakehouse building, docks & canoes.

13 

South Village
Community Development District

Debt Service Fund Series 2016 A1/A2

Adopted Budget
Description	 	FY2018

Revenues
PJ  Carry Forward Surplus		$419,409 Special Assessment - Tax Collector	$1 ,490,047 Direct Invoices			$24,874
Prepayments	$0
Interest Income	$0

TOTAL REVENUES	$1 ,934,330
Expenditures
Series 2016 A1 - Refunding Bonds
Interest - 11/1	$201 ,094
Special Call - 11/1	$0
Interest - 5/1	$201 ,094
Principal - 5/1	$585,000
Special Call - 5/1	$0

Series 2016 A1 - Revenue Bonds
Interest - 1 1/1	$57,469
Interest - 5/1	$57,469

Series 2016 A2 - Refunding Bonds
Interest -1 1/1	$104,175
Special Call - 11/1	$0
Interest - 5/1	$104,175
Principal - 5/1	$1 65,000
Special Call - 5/1

Series 2016 A2 - Revenue Bonds

Interest - 5/1		$21,000	$20,875	$0	$20,875	$20,875	
     TOTAL  EXPENDITURES			$1,517,475	$1,587,162	$0	$1,587,162	$1,515,586	

Interest - 1 1/1	$21 ,000

Actual	Projected
thru	Next
7/31/2018	2 Months

$430,773	$0
$1 ,504,205	$0
$24,874	$0
$44,728	$0
$12,373	$500

$2,016,953	$500

$201 ,094	$0
$10,000	$0
$201,094	$0
$585,000	$0
$15,000

$57,469	$0
$57,281	$0

$104,175	$0
$5,000	$0
$104,175
$165,000
$40,000	$0

$21,000

Total	Adopted
Projected at	Budget
9/30/2018	FY2019

$430,773	$430,291
$1 ,504,205	$1 ,490,047
$24,874	$24,874
$44,728	$0
$12,873

$2,017,453	$1,945,212

$201,094	$195,013
$10,000
$201,094	$195,013
$585,000	$600,000
$1 5,000	$0

$57,469	$57,281
$57,281	$57,281

$104,175	$99,624
$5,000	$0
$104,175	$99,624
$165,000	$170,000
$40,000	$0

$21 ,000	$20,875

EXCESS REVENUES/(EXPENDITURES)	$416,855
(1) Carry Foiward is net of Reserve requirement

 	$429,791	 	$500

$430,291	$429,626

Total Debt Gross Per Units	Unit Tax Roll
Platted Lots - Full Debt	1072	$1,470.05
Platted Lots - No 2005A Debt	59	$146.87
Platted lot - Partial		1	$597.53 Total Platted	1,132

Gross	Net
Assessment	Assessment
$1,575,894	$1,481,340
$8,665	$8,145
 	$598	 	$562
$1,585,156	$1,490,047

14 

Interest 11/1/2019:

Al Refunding	$189,013
Al Revenue	$57,281
A2 Refunding	$95,927
A2 Revenue	$20,875
$363,096

South Village	Amortization Schedule

DATE	BALANCE	RATE	 	PRINCIPAL		 	INTEREST		 	TOTAL		
1 1/1/2018	$	12,785,000.00	2.00%	$	$	195,012.50	$	195,012.50	

Community Development District	Series 2016 A1, Refunding Bonds

5/1/2019	$	1 2,785,000.00	2.00%	$	600,000	$	195,012.50
11 /112019	$	12,185,000.00	2.00%	$	$	189,012.50	$	984,025.00
511/2020	$	12,185,000.00	2.00%	$	615,000	$	189,012.50
11/1/2020	$	11 ,570,000.00	2.00%	$	$	182,862.50	$	986,875.00
5/112021	$	11 ,570,000.00	2.00%	$	625,000	$	1 82,862.50
1111/2021	$	10,945,000.00	2.00%	$	$	176,612.50	$	984,475.00
51112022	$	10,945,000.00	2.00%	$	640,000	$	176,612.50
1 111/2022	$	10,305,000.00	2.13%	$	$	169,812.50	$	986,425.00
51112023	$	10,305,000.00	2.13%	$	655,000	$	169,812.50
11 11/2023	$	9,650,000.00	2.38%	$	$	1 62,034.38	$	986,846.88
5/112024	$	9,650,000.00	2.38%	$	670,000	$	162,034.38
1111/2024	$	8,980,000.00	2.50%	$	$	153,659.38	$	985,693.76
51112025	$	8,980,000.00	2.50%	$	685,000	$	153,659.38
11 /112025	$	8,295,000.00	2.75%	$	$	144,240.63	$	982,900.01
511/2026	$	8,295,000.00	2.75%	$	705,000	$	1 44,240.63
1 111/2026	$	7,590,000.00	3.00%	$	$	1 33,665.63	$	982,906.26
5/112027	$	7,590,000.00	3.00%	$	730,000	$	1 33,665.63
1 111/2027	$	6,860,000.00	3.25%	$	$	121,803. 13	$	985,468.76
5/112028	$	6,860,000.00	3.25%	$	755,000	$	121,803. 13 
11 11/2028	$	6, 105,000.00	3.50%	$	$	1 08,590.63	$	985,393.76
5/112029	$	6,105,000.00	3.50%	$	780,000	$	1 08,590.63
1111/2029	$	5,325,000.00	3.50%	$	$	94,940.63	$	983,531.26
5/112030	$	5,325,000.00	3.50%	$	810,000	$	94,940.63
11 /112030	$	4,515,000.00	3.50%	$	$	80,765.63	$	985,706.26
5/112031	$	4,515,000.00	3.50%	$	840,000	$	80,765.63
1 1/1/2031	$	3,675,000.00	3.50%	$	$	66,065.63	$	986,831.26
5/1/2032	$	3,675,000.00	3.50%	$	870,000	$	66,065.63
1 1/112032	$	2,805,000.00	3.63%	$	$	50,840.63	$	986,906.26
5/112033	$	2,805,000.00	3.63%	$	900,000	$	50,840.63
11 11/2033	$	1, 905,000.00	3.63%	$	$	34,528.13	$	985,368.76
5/112034	$	1,905,000.00	3.63%	$	935,000	$	34,528.13 
1111/2034	$	970,000.00	3.63%	$	$	17,581.25	$	987, 1 09.38

51112035	$	970,000.00	3.63%	$	970,000	$	17,581.25

987,581.25

  $		 	 $	
Total	$   12,785,000.00	$	4,1 64,056.36	$	16,949,056.36

**Revised 5/1/18

15 

South Village	Amortization Schedule

DATE	BALANCE	RATE	PRINCIPAL	INTEREST	TOTAL	
1 1/1/2018	$	3,055,000.00	3.75%	$	$	57,281.25	$	57,281.25	
5/1/2019	$	3,055,000.00	3.75%	$	$	57,281.25		
1 1/1/201 9	$	3,055,000.00	3.75%	$	$	57,281.25	$	11 4,562.50	
5/1/2020	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/2020	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/2021	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/2021	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/2022	$	3,055,000.00	3.75%	$	$	57,281.25		
1 1/1/2022	$	3,055,000.00	3.75%	$	$	57,281.25	$	1 14,562.50	
5/1/2023	$	3,055,000.00	3.75%	$	$	57,281.25		
1 1/1/2023	$	3,055,000.00	3.75%	$	$	57,281.25	$	1 14,562.50	
5/1/2024	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/2024	$	3,055,000.00	3.75%	$	$	57,281.25	$	11 4,562.50	
5/1/2025	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/2025	$	3,055,000.00	3.75%	$	$	57,281.25	$	11 4,562.50	
5/1/2026	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/2026	$	3,055,000.00	3.75%	$	$	57,281.25	$	11 4,562.50	
5/1/2027	$	3,055,000.00	3.75%	$	$	57,281.25		
1 1/1/2027	$	3,055,000.00	3.75%	$	$	57,281.25	$	11 4,562.50	
5/1/2028	$	3, 055,000.00	3.75%	$	$	57,281.25		
1 1/1/2028	$	3,055,000.00	3.75%	$	$	57,281.25	$	1 14,562.50	
5/1/2029	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/2029	$	3,055,000.00	3.75%	$	$	57,281.25	$	1 14,562.50	
5/1/2030	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/2030	$	3,055,000.00	3.75%	$	$	57,281.25	$	1 14,562.50	
5/1/2031	$	3,055,000.00	3.75%	$	$	57,281.25		
1 1/1/2031	$	3,055,000.00	3.75%	$	$	57,281.25	$	11 4,562.50	
5/1/2032	$	3,055,000.00	3.75%	$	$	57,281.25		
1 1/1/2032	$	3,055,000.00	3.75%	$	$	57,281.25	$	11 4,562.50	
5/1/2033	$	3,055,000.00	3.75%	$	$	57,281.25		
1 1/1/2033	$	3,055,000.00	3.75%	$	$	57,281.25	$	11 4,562.50	
5/1/2034	$	3,055,000.00	3.75%	$	$	57,281.25		
11 /1/2034	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/2035
11/1/2035
5/1/2036	$	3,055,000.00
$	3,055,000.00
$	3,055,000.00	3.75%
3.75%
3.75%	$	$	57,281.25
$	$	57,281.25	
$	114,562.50	
11/1/2036	$	2,075,000.00	3.75%	$	$	38,906.25	$	1,076,1 87.50	
5/1/2037
11/1/2037	$	2,075,000.00
$	1, 055,000.00	3.75%
3.75%	$	1, 020,000	$	38,906.25
$	$	19,781.25	$	1,078,687.50	
5/1/2038	$	1, 055,000.00	3.75%	$	1,055,000	$	19,781.25		
			  $		 		  $	1,074,781.25	
 	Total				  $	3,055,000.00	  $	2,179,500.00	  $	5,234,500.00	

Community Development District	Series 2016 A1,  Revenue Bonds

$	980,000	$	57,281.25

16 

South Village	Amortization Schedule
Community Development District	Series 2016 A2, Refunding Bonds

 	DATE		BALANCE	RATE	PRINCIPAL	INTEREST	TOTAL
11/1/2018	$	4,260,000.00	4.35%	$	$	99,624.38	$	99,624.38
5/1/2019	$	4,260,000.00	4.35%	$	170,000	$	99,624.38
1 1/1/2019	$	4,090,000.00	4.35%	$	$	95,926.88	$	365,551.26
5/1/2020	$	4,090,000.00	4.35%	$	180,000	$	95,926.88
1 1/1/2020	$	3,910,000.00	4.35%	$	$	92,01 1 .88	$	367,938.76
5/1/2021	$	3,910,000.00	4.35%	$	185,000	$	92,01 1 .88
11/1/2021	$	3,725,000.00	4.35%	$	$	87,988.13	$	365,000.01
5/1/2022	$	3,725,000.00	4.35%	$	195,000	$	87,988. 13 
1 1/1/2022	$	3,530,000.00	4.35%	$	$	83,746.88	$	366,735.01
5/1/2023	$	3,530,000.00	4.35%	$	205,000	$	83,746.88
1 1/1/2023	$	3,325,000.00	4.35%	$	$	79,288.13	$	368,035.01
5/1/2024	$	3,325,000.00	4.35%	$	215,000	$	79,288. 13 
11/1/2024	$	3,1 1 0,000.00	4.35%	$	$	74,61 1.88	$	368,900.01
5/1/2025	$	3, 1 10,000.00	4.35%	$	225,000	$	74,611 .88
11/1/2025	$	2,885,000.00	4.35%	$	$	69,718.13	$	369,330.01
5/1/2026	$	2,885,000.00	4.35%	$	230,000	$	69,718.13
1 1/1/2026	$	2,655,000.00	4.35%	$	$	64,715.63	$	364,433.76
5/1/2027	$	2,655,000.00	4.88%	$	240,000	$	64,715.63
1 1/1/2027	$	2,415,000.00	4.88%	$	$	58,865.63	$	363,581.26
5/1/2028	$	2,415,000.00	4.88%	$	255,000	$	58,865.63
11 /1/2028	$	2,160,000.00	4.88%	$	$	52,650.00	$	366,515.63
5/1/2029	$	2,160,000.00	4.88%	$	265,000	$	52,650.00
11/1/2029	$	1, 895,000.00	4.88%	$	$	46,190.63	$	363,840.63
5/1/2030	$	1 ,895,000.00	4.88%	$	280,000	$	46,190.63
1 1/1/2030	$	1 ,615,000.00	4.88%	$	$	39,365.63	$	365,556.26
5/1/2031	$	1 ,615,000.00	4.88%	$	295,000	$	39,365.63
1 1/1/2031	$	1,320,000.00	4.88%	$	$	32,175.00	$	366,540.63
5/1/2032	$	1,320,000.00	4.88%	$	305,000	$	32,175.00
1 1/1/2032	$	1,015,000.00	4.88%	$	$	24,740.63	$	361,915.63
5/1/2033	$	1,015,000.00	4.88%	$	320,000	$	24,740.63
11 /1/2033	$	695,000.00	4.88%	$	$	16,940.63	$	361,681 .26
5/1/2034	$	695,000.00	4.88%	$	340,000	$	16,940.63
11/1/2034	$	355,000.00	4.88%	$	$	8,653.13	$	365,593.76
5/1/2035	$	355,000.00	4.88%	$	355,000	$	8,653.13
   $		 	 $	363,653.13 
Total	$	4,260,000.00	$	2,054,426.40	$	6,314,426.40

"*Revised 5/1/18

17 

South Village	Amortization Schedule
Community Development District	Series 2016 A2,  Revenue Bonds

 	DATE		BALANCE	RATE	PRINCIPAL	INTEREST	TOTAL
11/1/2018	$	835,000.00	5.00%	$	$	20,875.00	$	20,875.00
5/1/2019	$	835,000.00	5.00%	$	$	20,875.00
11/1/2019	$	835,000.00	5.00%	$	$	20,875.00	$	41 ,750.00
5/1/2020	$	835,000.00	5.00%	$	$	20,875.00
1 1/1/2020	$	835,000.00	5.00%	$	$	20,875.00	$	41 ,750.00
5/1/2021	$	835,000.00	5.00%	$	$	20,875.00
11/1/2021	$	835,000.00	5.00%	$	$	20,875.00	$	41 ,750.00
5/1/2022	$	835,000.00	5.00%	$	$	20,875.00
11 /1/2022	$	835,000.00	5.00%	$	$	20,875.00	$	41, 750.00
5/1/2023	$	835,000.00	5.00%	$	$	20,875.00
1 1/1/2023	$	835,000.00	5.00%	$	$	20,875.00	$	41 ,750.00
5/1/2024	$	835,000.00	5.00%	$	$	20,875.00
1 1/1/2024	$	835,000.00	5.00%	$	$	20,875.00	$	41,750.00
5/1/2025	$	835,000.00	5.00%	$	$	20,875.00
11/1/2025	$	835,000.00	5.00%	$	$	20,875.00	$	41 ,750.00
5/1/2026	$	835,000.00	5.00%	$	$	20,875.00
11/1/2026	$	835,000.00	5.00%	$	$	20,875.00	$	41 ,750.00
5/1/2027	$	835,000.00	5.00%	$	$	20,875.00
11 /1/2027	$	835,000.00	5.00%	$	$	20,875.00	$	41,750.00
5/1/2028	$	835,000.00	5.00%	$	$	20,875.00
11/1/2028	$	835,000.00	5.00%	$	$	20,875.00	$	41 ,750.00
5/1/2029	$	835,000.00	5.00%	$	$	20,875.00
11/1/2029	$	835,000.00	5.00%	$	$	20,875.00	$	41 ,750.00
5/1/2030	$	835,000.00	5.00%	$	$	20,875.00
11/1/2030	$	835,000.00	5.00%	$	$	20,875.00	$	41,750.00
5/1/2031	$	835,000.00	5.00%	$	$	20,875.00
11/1/2031	$	835,000.00	5.00%	$	$	20,875.00	$	41 ,750.00
5/1/2032	$	835,000.00	5.00%	$	$	20,875.00
11 /1/2032	$	835,000.00	5.00%	$	$	20,875.00	$	41 ,750.00
5/1/2033	$	835,000.00	5.00%	$	$	20,875.00
1 1/1/2033	$	835,000.00	5.00%	$	$	20,875.00	$	41,750.00
5/1/2034	$	835,000.00	5.00%	$	$	20,875.00
1 1/1/2034	$	835,000.00	5.00%	$	$	20,875.00	$	41, 750.00
5/1/2035	$	835,000.00	5.00%	$	$	20,875.00
11/1/2035	$	835,000.00	5.00%	$	$	20,875.00	$	41 ,750.00
5/1/2036	$	835,000.00	5.00%	$	265,000	$	20,875.00
11/1/2036	$	570,000.00	5.00%	$	$	14,250.00	$	300,125.00
5/1/2037	$	570,000.00	5.00%	$	280,000	$	14,250.00
11/1/2037	$	290,000.00	5.00%	$	$	7,250.00	$	301 ,500.00
5/1/2038	$	290,000.00	5.00%	$	290,000	$	7,250.00
   $		 	 $	297,250.00
 	Total		 $	835,000.00	 $	794,500.00         $	1, 629,500.00

18 

South Village
Community Development District

Debt Service Fund Series 2016 A3

Adopted
Budget
Description	FY2018

Revenues
'"	Carry Forward Surplus	$1 50,274
Special Assessment	$396,452
Prepayments	$0
Interest Income	$0

TOTAL REVENUES	$546,726
Expenditures

Series 2016 A3 - Refunding Bonds
Interest - 11/1	$91,700
Special Call - 11/1	$0
Principal - 5/1	$105,000
Interest - 5/1	$91,700
Special Call - 5/1	$0
Series 2016 A3 - Revenue Bonds
Interest - 11/1	$56,500
Interest - 5/1	$56,500

TOTAL EXPENDITURES	$401,400

EXCESS REVENUES/(EXPENDITURES)	$145,326

Platted Lots	

Full Debt
Total Platted	Total Debt Gross Per
Units Unit Tax Roll

197	$2,140.90
197	Gross
Assessment
 	$421,757
 	$421,757	Net Assessment
$396,452	
				$396,452	

"'	Cany Foiward is netof Reserve requirement

Actual	Projected
thru	Next
7/31/2018	2 Months

$204,423	$0
$400,219	$0
$247,839	$0
$3,176	$325

$855,657	$325

$91,700
$55,000	$0
$91,700	$0
$1 05,000	$0
$85,000	$0

$56,500
$55,125	$0

$540,025	$0

$315,632	$325

Total	Adopted
Projected at	Budget
9/30/2018	FY2019

$204,423	$31 5,957
$400,219	$396,452
$247,839	$0
$3,501	$0

$855,982	$712,409

$91,700	$86,375
$55,000	$20,000
$91,700	$1 05,000
$1 05,000	$86,375
$85,000	$0

$56,500	$55,125
$55,125	$55,125

$540,025	$408,000

$315,957	$304,409

Interest 11/1/2019:

A3 Refunding	$83,488
A3 Revenue	$55,125
$138,613

19

South Village	Amortization Schedule
Community Development District	Series 2016 A3,   Refunding  Bonds

 	DATE		 	BALANCE		 	RATE		 	PRINCIPAL		 	INTEREST	 	TOTAL	
11/1/2018	$	2,980,000.00	5.50%	$	$	86,375.00	$	86,375.00

5/1/2019	$	2,980,000.00	5.50%	$	105,000	$	86,375.00
11/1/2019	$	2,875,000.00	5.50%	$	$	83,487.50	$
5/1/2020	$	2,875,000.00	5.50%	$	11 5,000	$	83,487.50

274,862.50

11/1/2020	$	2,760,000.00	5.50%	$	$	80,325.00	$	278,812.50

5/1/2021	$	2,760,000.00	5.50%	$	120,000	$	80,325.00
11/1/2021	$	2,640,000.00	5.50%	$	$	77,025.00	$
5/1/2022	$	2,640,000.00	5.50%	$	125,000	$	77,025.00

277,350.00

11/1/2022	$	2,515,000.00	5.50%	$	$	73,587.50	$	275,612.50

11/1/2023	$	2,380,000.00	
5/1/2024	$	2,380,000.00	
11/1/2024	$	2,240,000.00	
5/1/2025	$	2,240,000.00	

5/1/2023	$	2,515,000.00	5.50%	$	135,000	$	73,587.50
5.50%	$	$	69,875.00	$	278,462.50

5.50%	$	140,000	$	69,875.00
5.50%	$	$	66,025.00	$
5.50%	$	150,000	$	66,025.00
11 /1/2025	$	2,090,000.00	5.50%	$	$	61,900.00	$
5/1/2026	$	2,090,000.00	5.50%	$	155,000	$	61 ,900.00

275,900.00
277,925.00

11 /1/2026	$	1,935,000.00	5.50%	$	$	57,637.50	$	274,537.50

5/1/2027	$	1,935,000.00	5.50%	$	165,000	$	57,637.50
11 /1/2027	$	1 ,770,000.00	6.00%	$	$	53,100.00	$
5/1/2028	$	1 ,770,000.00	6.00%	$	180,000	$	53,100.00

275,737.50

11/1/2028	$	1,590,000.00	6.00%	$	$	47,700.00	$	280,800.00
5/1/2029	$	1, 590,000.00	6.00%	$	190,000	$	47,700.00
11 /1/2029	$	1, 400,000.00	6.00%	$	$	42,000.00	$	279,700.00
5/1/2030	$	1,400,000.00	6.00%	$	200,000	$	42,000.00
11/1/2030	$	1,200,000.00	6.00%	$	$	36,000.00	$	278,000.00
5/1/2031	$	1,200,000.00	6.00%	$	210,000	$	36,000.00
11/1/2031	$	990,000.00	6.00%	$	$	29,700.00	$	275,700.00
5/1/2032	$	990,000.00	6.00%	$	225,000	$	29,700.00

5/1/2033	$	765,000.00	6.00%	$	
11/1/2033	$	525,000.00	6.00%	$	
5/1/2034	$	525,000.00	6.00%	$	

11/1/2032	$	765,000.00	6.00%	$	$	22,950.00	$	277,650.00
240,000	$	22,950.00
$	15,750.00	$	278,700.00
255,000	$	15,750.00
11/1/2034	$	270,000.00	6.00%	$	$	8,100.00	$	278,850.00
5/1/2035	$	270,000.00	6.00%	$	270,000	$	8,100.00
  $		$	278,100.00

 	Total		 $	2,980,000.00	 $	1,823,075.00       $	4,803,075.00 

uRevised 5/1/18

20

South Village	Amortization Schedule
Community Development District	Series 2016 A3,  Revenue Bonds

 	DATE		 	BALANCE		 	RATE		 	PRINCIPAL		 	INTEREST	 	TOTAL	

11 /1/2018	$	2,205,000.00	5.00%	$	$	55,125.00	$	
5/1/2019	$	2,205,000.00	5.00%	$	$	55,125.00		
11/1/2019	$	2,205,000.00	5.00%	$	$	55,1 25.00	$	
5/1/2020	$	2,205,000.00	5.00%	$	$	55,1 25.00		
1 1/1/2020	$	2,205,000.00	5.00%	$	$	55,1 25.00	$	
5/1/2021	$	2,205,000.00	5.00%	$	$	55,125.00		
11 /1/2021	$	2,205,000.00	5.00%	$	$	55,125.00	$	
5/1/2022	$	2,205,000.00	5.00%	$	$	55,125.00		
11/1/2022	$	2,205,000.00	5.00%	$	$	55,125.00	$	
5/1/2023	$	2,205,000.00	5.00%	$	$	55,125.00		
11/1/2023	$	2,205,000.00	5.00%	$	$	55,125.00	$	
5/1/2024	$	2,205,000.00	5.00%	$	$	55,125.00		
11/1/2024	$	2,205,000.00	5.00%	$	$	55,125.00	$	
5/1/2025	$	2,205,000.00	5.00%	$	$	55,125.00		
1 1/1/2025	$	2,205,000.00	5.00%	$	$	55,125.00	$	
5/1/2026	$	2,205,000.00	5.00%	$	$	55,1 25.00		
11/1/2026	$	2,205,000.00	5.00%	$	$	55,1 25.00	$	
5/1/2027	$	2,205,000.00	5.00%	$	$	55,125.00		
11/1/2027	$	2,205,000.00	5.00%	$	$	55,1 25.00	$	
5/1/2028	$	2,205,000.00	5.00%	$	$	55,125.00		
11/1/2028	$	2,205,000.00	5.00%	$	$	55,125.00	$	
5/1/2029	$	2,205,000.00	5.00%	$	$	55,125.00		
11 /1/2029	$	2,205,000.00	5.00%	$	$	55,125.00	$	
5/1/2030	$	2,205,000.00	5.00%	$	$	55,125.00		
11/1/2030	$	2,205,000.00	5.00%	$	$	55,125.00	$	
5/1/2031	$	2,205,000.00	5.00%	$	$	55,1 25.00		
1 1/1/2031	$	2,205,000.00	5.00%	$	$	55,125.00	$	
5/1/2032	$	2,205,000.00	5.00%	$	$	55,125.00		
11/1/2032	$	2,205,000.00	5.00%	$	$	55,125.00	$	
5/1/2033	$	2,205,000.00	5.00%	$	$	55,125.00		
11/1/2033	$	2,205,000.00	5.00%	$	$	55,125.00	$	
5/1/2034	$	2,205,000.00	5.00%	$	$	55,125.00		
11/1/2034	$	2,205,000.00	5.00%	$	$	55,125.00	$	
5/1/2035	$	2,205,000.00	5.00%	$	$	55,125.00		
11/1/2035	$	2,205,000.00	5.00%	$	$	55,125.00	$	

55,125.00

11 0,250.00

11 0,250.00

11 0,250.00

11 0,250.00

11 0,250.00

1 10,250.00

11 0,250.00

11 0,250.00

11 0,250.00

11 0,250.00

11 0,250.00

11 0,250.00

1 10,250.00

1 10,250.00

1 10,250.00

11 0,250.00

11 0,250.00

51 ,250.00	$	261 ,375.00	
51 ,250.00		
47,250.00	$	258,500.00	
47,250.00		
43,000.00	$	260,250.00	
43,000.00		
38,500.00	$	261,500.00	
38,500.00		
33,750.00	$	262,250.00	
33,750.00		
28,875.00	$	257,625.00	
28,875.00		
23,625.00	$	262,500.00	

11/1/2036	$	2,050,000.00	5.00%	$	
5/1/2037	$	2,050,000.00	5.00%	$	1	
11/1/2037	$	1, 890,000.00	5.00%	$	
5/1/2038	$	1, 890,000.00	5.00%	$	1 	
11/1/2038	$	1,720,000.00	5.00%	$	
5/1/2039	$	1,720,000.00	5.00%	$	1 	
11 /1/2039	$	1,540,000.00	5.00%	$	
5/1/2040	$	1,540,000.00	5.00%	$	1 	
11 /1/2040	$	1,350,000.00	5.00%	$	
5/1/2041	$	1,350,000.00	5.00%	$	1 	
11 /1/2041	$	1,1 55,000.00	5.00%	$	
5/1/2042	$	1,1 55,000.00	5.00%	$	2	
11/1/2042	$	945,000.00	5.00%	$	
5/1/2043	$	945,000.00	5.00%	$	2	
11/1/2043	$	725,000.00	5.00%	$	
5/1/2044	$	725,000.00	5.00%	$	2	
11 /1/2044	$	495,000.00	5.00%	$	
5/1/2045	$	495,000.00	5.00%	$	2	
11 /1/2045	$	255,000.00	5.00%	$	
5/1/2046	$	255,000.00	5.00%	$	2	

5/1/2036	$	2,205,000.00	5.00%	$	155,000	$	55,125.00
$
60,000	$
$
70,000	$
$
80,000	$
$
90,000	$
$
95,000	$
$
1 0,000	$
$

20,000

30,000

40,000

55,000

$	23,625.00

18,125.00	$	261,750.00	
18,125.00		
12,375.00	$	260,500.00	
12,375.00		
6,375.00	$	258,750.00	
6,375.00	$	261 ,375.00	

$
$
$
$
$
$

 	 	 
 	Total		 $	2,205,000.00	 $	2,590,750.00	 $	4,795,750.00

21

South Village
Community Development District

Golf Fund

	Adopted
Budget		Approved
Budget		Changes
as of		Adopted
Budget	
	 	FY2018			FY2019		8/7/2018		 	FY2019		
Revenues:								
Guest Fees	$1,120,345		$1,120,345		$0		$1,120,345	
Acct Cart Fees	$46,516		$46,516		$0		$46,516	
Tournament Revenue	$75,720		$75,720		$0		$75,720	
Dues	$210,005		$210,005		$0		$210,005	
Initiation Fees	$3,000		$3,000		$0		$3,000	
Food & Beverage Sales	$357,460		$357,460		$0		$357,460	
Liquor Sales	$282,623		$282,623		$0		$282,623	
Banquet Revenue	$92,493		$92,493		$0		$92,493	
Merchandise Sales - Pro Shop	$120,178		$120,178		$0		$120,178	
Driving Range Revenue	$29,894		$29,894		$0		$29,894	
Club Rentals	$3,627		$3,627		$0		$3,627	
Misc Income	 	$19,712		 	$19,712		 	$0		 	$19,712	
Sub Total	      $2,361,573		  $2,361,573		 	$0 		$2,361,573

Cost of Goods Sold:
								
Food	$153,800		$153,800		$0		$153,800	
Liquor	$98,918		$98,918		$0		$98,918	
Merchandise	 	$84,125		 	$84,125		 	$0		 	$84,125	
Sub Total	 	$336,843		 	$336,843		 	$0		 	$336,843	
Total Net Revenues	$2,024,730		$2,024,730		$0		$2,024,730	
Expenses:								
Personnel								
Salaries	$267,823		$267,823		$0		$267,823	
Hourly	$636,631		$636,631		$0		$636,631	
Payroll Processing	$6,343		$6,343		$0		$6,343	
Labor Recovery	$2,172		$2,172		$0		$2,172	
Payroll Taxes	$84,834		$84,834		$0		$84,834	
Workers Compensation	$20,224		$20,224				$20,224	
Benefits	$63,762		$63,762		$0		$63,762	
Other Personnel Cost	 	$37,150		 	$37,150		 	$0		 	$37,150	
Total Personnel Expenses	$1,114,595		$1,114,595		$0		$1,114,595	

Golf Course								
Advertising	$44,000		$44,000		$0		$44,000	
Bank Charges	$7,088		$7,088		$0		$7,088	
Beverage Cart Lease	$2,261		$2,261		$0		$2,261	
Cable/Satelite TV	$6,000		$6,000		$0		$6,000	
Chemicals	$79,914		$79,914		$0		$79,914	
China,Glass Silverware	$1,500		$1,500		$0		$1,500	
Cleaning Supplies	$7,920		$7,920		$0		$7,920	
Contract Labor	$15,139		$15,139		$0		$15,139	
Course Assessories	$14,000		$14,000		$0		$14,000	
Credit Card Fees	$40,341		$40,341		$0		$40,341	
Discounts/Rebates	($16,752)							
Electric	$40,090	$40,090	$0	$40,090	
Equipment Rental	$5,819	$5,819	$0	$5,819	
Feritlizer	$57,106	$57,106	$0	$57,106	

($16,752)

($16,752)

22

South Village	Golf Fund
Commun ity Development District	Continued

Budget

Adopted	Approved	Changes	Adopted
Budget	as of	Budget
FY2018	FY2019	8/7/2018	FY2019
GolfCourse(Continued)

$13,300

Gas & Oil	$21,300	$21,300

Golf Cart Lease	$68,971	$68,971		$68,971	
Golf Cart Repairs	$6,000	$6,000	$0	$6,000	
Insurance - Property	$46,932	$46,932	$0	$46,932	
Janitorial & Pest Control	$3,585	$3,585		$3,585	
Legal Fees
License, Tax and Permits	$13,656
$8,252	$13,656
$8,252	$0	$13,656
$8,252	
Linen Rentals	$12,200	$12,200	$0	$12,200	
Member Promotions	$130,924	$130,924		$130,924	
Office Supplies	$3,930	$3,930	$0	$3,930	
Paper Supplies	$26,050	$26,050	$0		
Personal Property Taxes	$8,940	$8,940		$8,940	
Plant.Seed & Sod	$4,100	$4,100		$4,100	
Postage & Delivery	$700	$700		$700	
Pump Electric	$24,357	$24,357	$0	$24,357	
R&M - Building/Grounds	$7,600	$7,600	$0	$7,600	
R&M - Equipment	$35,252	$35,252		$35,252	
R&M - Irrigation	$8,550	$8,550		$8,550	
Range Supplies	$8,400	$8,400	$0	$8,400	
Reservation Systems		$11,383	$0	$11,383	
Score Cards	$2,400	$2,400		$2,400	
Security	$612	$612	$0	$612	
Software Support/Maint.	$3,600	$3,600		$3,600	
Telephone	$8,400	$8,400		$8,400	
Top Dressing/Bunker Sand	$12,600	$12,600	$0	$12,600	
Trash Removal	$24,190	$24,190	$0	$24,190	
Travel	$6,600	$6,600		$6,600	
Uniforms	$4,050	$4,050		$4,050	
Management Fee	$100,000	$100,000	$20,000	$120,000	
Real Estate Taxes	$12,000	$12,000	$2,800	$14,800	
Equipment Lease	$81,088	$81,088	$9,032	$90,120	
Equipment Interest	$12,072	$12,072	$452	$12,524	
Water & Sewer	$24,821	$24,821		$24,821	
Contingency	 	$66,000	 	$66,000	 	$0	 	$66,000	
Total Golf Expenses	 	$1,127,241	$1,127,241	$75,603	$1,159,525	
Total Expenses	
$2,241,836	
$2,241,836		
$2,274,120	
Excess Revenues/(Expenditures)	 	(217,106)	(217,106)		(249,390)	
Non O�erating Revenuesl{Ex�enditures}:					
Special Assessments (Net)	$298,119	$298,119	$0	$321,531	
Capital Reserve Contributions	 	($81,013)	 	($81,013)	 		 	($72,141)	

Gas Propane

$21,300

$0
$0

$13,300

$0

$0

$0

$0

$26,050

$0
$0

$11,383

$0

$0

$0

Total Non-Operating Revenues/Expenditures:	$217,106	$217,106	$0	$249,390

$0

$0

NET INCOME

Assessable Units	1235	1332	
Per Unit Assessment (Net)	$241.39	$241.39	
	$298,117	$321,531	

South Village Community Development District	Golf Course
FYZ019	 	

Revenues:
Guest Fees Acct Cart Fees
Tournament Revenue Dues Revenue Initiation Fees
Food & Beverage Sales Liquor Sales
Banquet Revenue Banquet Alcohol Tournament Food
Merchandise Sales-Pro Shop Driving Range Revenue Rental of Clubs Miscellaneous Income

Cost of Goods Sold:
Food Liquor
Merchandise

Expenditures

Personnel:
Salaries
Hourly
Payroll Processing Labor Recovery Payroll Taxes
Workers Compensation
Benefits
Other Personnel Cost

Golf Course: Advertising Bank Charges
Beverage Cart Lease Cable/Dish TV Chemicals
China, Glass and Silverware Cleaning Supplies
Contract Labor

Description	

Greens fees
Golf cart rental fees
Greens fees related to tournaments and events
Golf member and Player's Club dues Golf member initiation fees
Non-event food and beverage sales
Non-event liquor  sales Event food and beverage sales Event liquor sales
Golf tournament related food and beverage sales Golf shop merchandise
Driving range sales Golf club rentals Miscellaneous Income

Cost of non-liquor food and beverage sold Cost of liquor sold
Cost of merchandise sold

Salaries related to all management staff Hourly payroll related to golf operations
Monthly fees related to the processing of payroll
Offset against payroll for revenue collected related to special event services State and federal payroll taxes
Workers compensation insurance
Health, dental, vision, and other benefits
Performance related variable compensation

Print and digital advertisingfor all departments Charges for automatic drafts from EFT
Lease of on course beverage cart
Monthly charges for Comcast TV and wireless internet Turf related chemicals such as fungicides and herbicides Replacement china, glass, and silveiware
General clubhouse related cleaning supplies Contract Service to Clean Clubhouse

24

Course Accessories Credit Card Fees Discounts/Rebates Electricity Equipment Rental Fertilizer
Gas & Oil Gas/Propane Golf Cart Lease Golf Cart Repairs
Insurance - Property Janitorial & Pest Control Legal Fees
Audit Fees
License, Tax and Permit
Linen Rentals Member promotions Office Supplies Paper Supplies
Personal Property Taxes Plant, Seed and Sod Postage & Delivery Pump Electricity
R&M - Building/Grounds R&M - Equipment
R&M - Irrigation Range Supplies Reservation Systems Score Cards Security
Software Support/Main!. Telephone
Top Dressing/Bunker Sand Trash Removal
Travel
Uniforms

Non-Operating: Management Fee - GC Real Estate Taxes Equipment Lease Equipment Interest Water and Sewer Contingency

On course items such as tee markers, flags, cups
Fees due to credit card company for processing of charges Discounts Received thru National Account Agreements Electricity for all areas except irrigation pump station Service agreement for copier including supplies
Turf related fertilizers
Gasoline and oil purchase and disposal Natural gas a propane
Lease ofgolf carts from EZGO
Repair and maintenance related to golf carts Property and casualty insurance for the property Monthly pest control services
Retainer for Addison Law for management of licenses, permits, and other legal matters Annual financial audit
Annual fees for operating licenses and permits
Rental costs for linen and laundry related to cloth napkins, table cloths, etc. Cost related to All Inclusive Golf promotion
General office supplies

Operational paper supplies such as paper towels, plates, napkins, toilet paper, etc. Tax related to golf clubs personal property
Sod and seed related to needed turf repair Delivery charges such as USPS, UPS, and FEDEX Electricity to operate irrigation pump
Repair and maintenance of all buildings
Repair and maintenance of all equipment, primarily golf course maintenance equipment
Repair and maintenance of golf course irrigation system
Driving range operating supplies
License cost of point of sale and reservation system Golf course scorecards
Clubhouse alarm system with the Access Limited Internet provider and all hardware
All telephone hardware and service costs
Sand for bunkers maintenance and greens topdressing
Monthly charges trash bins at clubhouse and maintenance yard for disposal
Travel related to site visits and board meetings
Uniforms related to all operations

Annual management fee to Honours Golf Annual real estate taxes related to the property Lease of golf course maintenance equipment

Irrigation and potable water expense

25