Amended Budget
Fiscal Year 2018

South Village Community Development District

February 6, 2018

South Village	Ge·neral Fund
Community Development District

Revenues

  	  	 

Descrietion

Amended Budget
    FY2017 

Actual	Projected	Total	Approved	Changes	Adopted
thru	Next	Projected at	Budget	as of	Budget
   7/31/2017       2 Months	 9/30/2017	 	FY2018		 9/5/2017 FY2018 

Maintenance Assessments - Tax Collector	$529,734	$532,644			$0	$532,644	$498,428		$107,777 $606,205 Maintenance Assessments		$15,785		$12,166	$3,619		$15,785		$8,097			($6,830)	$1,267 Maintenance Assessments - Direct {Platted)			$0				$0			$0				$0	$101,050	($101,050)		$0 Misc. Income			$0			$997		$150			$1,147			$0				$0		$0
Total Revenues	$545,519	$545,807	$3,769	$549,676	$607,676	($103)	$607,472

Expenditures
Administrative
Supervisors Fees	$12,000	$12,400	$1,800	$14,200	$12,000	$1,000	$13,000 FICA Taxes		$918		$949		$138		$1,086		$918		$82		$1,000
Engineering	$10,000	$10,813	$2,163	$12,975	$15,000	$0	$15,000

$40

Arbitrage	$1,200	$1,200	$0	$1,200	$1,200	$0	$1,200 Dissemination Agent	$5,000	$3,333	$0	$3,333	$5,000	$0	$5,000
Assessment Roll	$5,260	$5,260	$0	$5,260	$5,260	$5,300

$4,475

Attorney	$30,000	$26,764	$5,353	$32,117	$35,000	$0	$35,000
Annµal Audit	$4,500	$4,475	$0	$4,500	$0	$4,500
Trustee	$8,860	$12,102	$0	$12,102	$15,000	$0	$15,000

$833

Management Fees	$45,000	$37,500	$7,500	$45,000	$45,000	$0	$45,000

Computer Time	$1,000
Telephone	$300	$447

$167	$1,000	$1,000	$0	$1,000
$537	$500	$0	$500

Postage	$1,500	$986	$197	$1,184	$1,500	$0	$1,500
Insurance	$7,192	$2,601	$0	$2,601	$7,192	$8	$7,200

$144

Printing & Binding	$2,500	$5,692	$1,138	$6,830	$3,400	($100)	$3,300
Legal Advertising	$3,000	$722	$867	$3,000	($2,000)	$1,000
Other Current Charges	$1,250	$771	$154	$926	$1,250	($50)	$1,200

$175

$175

$175

$25

Office Supplies	$150	$166	$199	$150	($50)	$100

Dues, Licenses, Subscriptions

$0	$175

$200

Contingency	$500	$0	$0	$500	$0	$500
Sub-Total - Administrative Expenses	$140,305	$127,189	$18,877	$146,066	$167,646	($1,045)	$156,500

Community Appearance
lnterlocal Agreement - MVCDD	$36,000	$35,893	$0	$35,893	$36,000	$0	$36,000
Landscape - Contract	$160,000	$107,500	$20,000	$127,500	$123,600	$123,600
Landscape - Contingency		$0	$13,745	($11,243)		$2,502	$30,000		$0	$30,000 Facility & Grounds Maintenance (Labor)	$19,208	$14,466		$4,822	$19,288	$19,208	$11,992	$31,200
Landscape - Irrigation Repairs	$0	$0	$0	$15,000	($5,000)	$10,000
Lake - Contract	$28,882	$18,700	$5,610	$24,310	$28,882	$18	$28,900
Operations Management	$42,920	$32,190		$9,657		$41,847		$42,920	$80		$43,000 Utilities	$75,000	$82,881	$24,864	$107,745	$105,000		$0	$105,000
Miscellaneous - Direct Cost		$20,000		$16,117	$4,835		$20,952		$20,000			$0		$20,000 Security	 $23,204	 	$18,481 	$5,544	 $24,025	 	$23,204	 	($4)	 	$23,200 

$545,519

$467,162

$82,966

$550,128

$601,359

$6,041

$607,400

$0

$78,645

($79,197)

($552)

$6,216

Sub-Total - Community Appearance	$405,214	$339,972	$64,090	$404,062	$443,814	$7,086	$450,900

TOTAL EXPENDITURES

EXCESS REVENUES/(EXPENDITURES)

South Village

99

1233
$1,010.50
$1,245,947
$1,325.475
$1,075

$1,075

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

1135
$1,010.50

$1,146,918

Gross Assessment {6% Discounts/Collections $1,220,125

Total Net Assessments - Tax Collector

Assessments - Platted Lots Net Assessment Rate

FY2018

FY2017

Platted Lots

$70.41
$6,971

Community Development District

General Fund

$1,252,917

Allocation of On Roll Assessments:
Total Net Assessments - Tax Collector Platted	$1,245,947 Total Net Assessments - Tax Collector Admin Only		$6,971
Total Assessment - Tax Collector	
General Fund	$606,205.00	
Recreation Fund	$646,712.09	
	$1,252.917	

I Direct Invoices

FY2018

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

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.

Assessments - Administrative
The District will assess the undeveloped property for the administrative portion of the budget allocated to all property owners within the District.

Developer Contributions

The District will enter into a Funding Agreement with the Developer to Fund a portion of the expenditures 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.
3

South Village
Community Development District
GENERAL FUND BUDGET

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.
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.

4

South Village
Community Development District
GENERAL FUND BUDGET

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.

Community Appearance
lnterlocal Agreement - Middle Village CDD
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.
Landscape
This represents landscape maintenance of all District property, to include mowing, weeding, trimming, pruning, fertilizing etc. The District is contracted with Duval Landscape. The contract is $10,300.00 per month, or $123,600 annually. Amount budgeted includes a 10% contingency.
Facility & Grounds Maintenance
Represents contracted amount paid to Eagle Landing Limited Partnership for maintenance labor costs associated.
Landscape - Irrigation Repairs
This represents repairs to the District's irrigation systems which are not already included in contract with Duval Landscape.
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 $2,188 per month, or $26,256 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

Monthll,'.

Annualll,'.

587548-9	3935-1 Eagle Landing/Water Fall	$ 2,150.00	$ 25,800.00	
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		$	6,650.00	
		Total	$ 35,000.00	
	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	$ 478.00	$	5,736.00	
00213119	3988-1 Eagle Landing Parkway	$ 150.00	$	1,800.00	
00215602	3968-1 Eagle Landing Parkway	$ 175.00	$	2,100.00	
00220803	3973 Eagle Landing Parkway	$ 115.00	$	1,380.00	
00222067	3989 Eagle Landing Parkway	$ 933.00	$	11,196.00	
00229064	3979-2 Eagle Landing Parkway	$3,300.00	$	39,600.00	
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	$ 182.00	$	4,211.49	
00230641	3975 Eagle Landing Parkway	$ 270.00	$	2,184.00	
00230642	3979 Eagle Landing Parkway	$ 200.00	$	2,400.00	
00233750	1433-1 Eagle Landing Parkway	$	52.00	$	624.00	
00502768	2180 Club Lake Drive Reclaimed Irr	$	27.00	$	324.00	
00502779	2319 Club Lake Drive Reclaimed Irr	$	15.48	$	185.76	
	Contingency		$	6,938.75	

Total	$	70,000.00
Misc - Direct Costs
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

FY2018

 	 	

Description	

Adopted Budget FY2017

Actual thru 7/31/2017

Projected Next
2 Months

Total Projected at 9/30/2017

Adopted Budget FY2018

REVENUES:		
Maintenance Assessments	$106,690		$107,286	$0		$107,286		$115,902	
Capital Reserve - Transfer In	$0		$0	$0		$0		$0	
Carry Foiward Surplus	$106,690		$99,633	$0		$99,633		$47,297	
TOTAL REVENUES	$213,380		$206,919	$0		$206,919		$163,199	
EXPENDITURES:									
Capital Outlay	$0		$133,709	$25,451		$159,160		$0	
Other Current Charges	$300		$308	$154		$462		$300	
TOTAL EXPENDITURES	 	$300		   $134,017	 	$25,605		    $159,622		 	$300	
ASSIGNED FUND BALANCE	$213,080		$72,902	($25,605)		$47,297		$162,899	
			IPlatted Lots			
FY2017		FY2018 I	
Assessments - Platted Lots	1135	1233	
NetAssessment Rate	$94.00	$94.00	
Total Net Assessments - Tax Collectc	$106,690	$115,902	
Gross Assessment (6% Discount)	$113,500	$123,300	

!Gross Assessment - Per Unit	$100.00	$100.00 I

7

South Village	Recreational Fund
Community Development District

Amended
Budget	Actual
thru	Project�d
Next	Total
Projected at	Adopted
Budget	Changes
as of	Amende
Budget	
 	FY2017		     7/31/2017 	  2 Months	9/30/2017	FY2018	2/6/2018	FY2018	

d

Revenues:
Tennis:

$2,997

Guest Fees	$4,280	$2,666	$1,000	$3,666	$4,300	$0	$4,300
Pro Shop Merchandise	$150	$1,499	$4,496	$12,000	$0	$12,000
Fitness	$10,600	$2,899	$1,450	$4,349	$4,500	$0	$4,500
Lessons & Clinics	 	$54,620	 	$33,922	 	$16,961	 	$50,884	 	$54,600	 	$0	 	$54,600
Sub Total	$69,650	$42,484	$20,909	$63,394	$75,400	$0	$75,400

Pools:

$3,435

Guest	$4,680	$4,254	$1,418	$5,672	$4,700	$0	$4,700
Swim Lessons	$6,300	$1,145	$4,580	$6,300	$0	$6,300
Rentals	$600	($54)	$200	$147	$600	$0	$600
Clubroom Rentals	$4,800	$13,852	$2,770	$16,622	$12,000	$0	$12,000

Other

$150	$50	$200	$0	$0	$0

Swim Team	 	$6,820	 	$11,835	 	$0	 	$11,835	 	$12,000	 	$0	 	$12,000
Sub Total	$23,200	$33,472	$5,583	$39,056	$35,600	$0	$35,600

Cafe:

Food	$52,100	$41,047	$12,314	$53,361	$52,100	$0	$52,100
Merchandise	$5,838	$5,158	$1,547	$6,706	$9,000	$0	$9,000

Wine	$995	$474	$142	$616	$1,000	$1,000
Liquor	$21,400	$12,270	$3,681	$15,951	$21,400	$0	$21,400
Beer	$13,420	$6,651	$1,995	$8,646	$13,400	$0	$13,400
Sundries	 $365	 	$1,340	$402	 	$1,742	 	$370	 	$0	 	
Sub Total	$94,118	$66,939	$20,082	$87,021	$97,270	$0	$97,270

Kids:

Facility Rentals			$300			$614		$184		$798			$300	$0			$300 Summer Camp	$14,800	$22,013	$6,604	$28,617	$22,000	$0	$22,000 Programs		$6,570		$9,175	$2,753	$11,928		$9,000	$0		$9,000
Social Programs	$2,230	$1,484	$445	$1,930	$2,200	$0	$2,200

Sub Total	$23,900		$35,073		$10,522		$45,595		$33,500		$0		$33,500	
Maintenance Assessments	
$617,184		
$620,630		
$0		
$620,630		
$646,712		
$0		
$646,712	
Carry Forward Surplus	$0		$0		$0		$0		$58,049		$0		$58,049	
G&A - Other Income	$0		($3,013)		$0		($3,013)		$0				$0	
Total Gross Revenues	 	$828,052		 	$795,587		 	$57,097		 	$852,683		 	$946,531		 	$0		 	$946,531	

Holiday Events	 	$0 	$1,787               $536               $2,322 	$0 	$0 	$0

8

South Village	Recreational Fund
Community Development District	Continued

Amended	Actual	Projected	Total	Adopted	Changes	Amended
Budget	thru	Next	Projected at	Budget	as of	Budget
 	FY2017	 7131/2017	 2 Months	 9/3012017	 FY2018       2161201 8	 FY2018 
Expenses:
Tennis:

$30

Management Fees	$216,546	$173,618	$46,558	$220,176	$254,800	$32,184	$222,616

Cable	$2,412	$1 ,608	$322	$1 ,930	$2,400	$0	$2,400	
Electric	$36,450	$24,328	$4,866	$29,194	$36,500	$0	$36,500	
Repairs and Maintenance	$7,220	$5,343	$1,069	$6,411 	$7,200	$0	$7,200	
Court Maint.	$5,220	$9,080	$1,816	$10,896	$10,000	$0	$10,000	
Waste Removal	$4,234	$4,325	$865	$5,190	$4,200	$0	$4,200	
Office Supplies	$464		$185	$1,112	$1 ,000	$0	$1 ,000	
Paper & Cleaning	$2,400	$2,527	$505	$3,033	$3,000	$0	$3,000	
Recreational Supplies	$2,370	$2,277	$455	$2,733	$2,400	$0	$2,400	
Merchandise	 	$0	 	$0	 	$0	 	$0 	 	$7,000	 	$0	 	$7,000	
Sub Total	$277,616	$224,184	$56,671	$280,855	$328,800	$32,184	$296,616	

Security	$300	$150

$180	$300	$0	$300

Management Fees	$166,320	$131 ,281	$39,562	$1 70,843	$219,800	$297	$220,097	
Security	$300	$225	$45	$270	$300	$0	$300	
Cable	$0	$200		$240	$0	$0	$0	
Electric	$43,600	$32,348	$6,470	$38,817	$43,600	$0	$43,600	
Water and Sewer	$5,125	$6,926	$1 ,385	$8,311	$5,100	$0	$5,100	
Gas	$7,912	$5,727	$1,145	$6,872	$7,900	$0	$7,900	
Repairs and Maint.	$6,000	$4,798	$960	$5,758	$6,000	$0	$6,000	
Pool Maintenance	$20,400	$12,455	$2,491	$14,946	$20,400	$0	$20,400	
Waste Remo\lal	$0	$0	$0	$0	$0	$0	$0	
Miscellaneous	$150		$0	$0	$200	$0	$200	
First Aid/Safety	$400		$113 	$676	$400	$0	$400	
Employee Training	$200	$128	$26	$154	$200	$0	$200	
Swim Team	$3,300	$3,878	$776	$4,654	$4,000	$0	$4,000	
Office Supplies	$1,200	$0	$0	$0	$1,200	$0	$1 ,200	
Paper & Cleaning Supplies	$2,350	$2,822	$564	$3,386	$2,400	$0	$2,400	
Recreational Supplies	$900	$693		$832	$900	$0	$900	
Pool Chemicals	$1 0,200	$8,500	$1 ,700	$1 0,200	$1 0,200	$0	$10,200	
Small Wares	$0	$0	$0	$0	$0	$0	$0	
Uniforms	$0	$0	$0	$0	$0	$0	$0	
Permits	 	$875	 	$875	 	$175	 	$1 ,050 	 	$900	 	$0	 	$900	
Sub Total	 	$269,232	 	$211 ,420	 	$55,590	 	$267,009	$323,500	 	$297	$323,797	

Management Fees	
$7,102	
$19,049	
$6,890	
$25,939	
$37,900		
$37,913	
Telephone	$0	$3,268	$654	$3,922	$0		$0	
Cable	$1 ,560	$1,261	$252	$1,514	$1 ,600	$0	$1 ,�00	
Gas	$3,000	$2,152	$430	$2,583	$3,000	$0	$3,000	
Repairs & Maint.	$1 ,800	$2,188	$438	$2,626	$1 ,800	$0	$1 ,800	
Pest Control	$2,460	$2,052	$410	$2,462	$2,500	$0	$2,500	
Waste Removal	$4,384	$4,325	$865	$5,190	$4,400	$0	$4,400	
Miscellaneous Exp.	$0	$0	$0	$0	$0	$0	$0	
Paper & Cleaning Supplies	$4,486	$3,848	$770	$4,618	$4,500	$0	$4,500	
Food	$24,050	$24,961	$4,992	$29,953	$24,000	$0	$24,000	
Recreational Supplies	$1 ,630	$299	$60	$359	$1,600	$0	$1 ,600	
Merchandise	$3,360	$2,246	$449	$2,695	$3,400	$0	$3,400	
Beer	$6,710	$3,274	$655	$3,928	$6,700	$0	$6,700	
Liquor	$8,575	$9,053	$1,811	$1 0,864	$8,600	$0	$8,600	
Permits	 		 		 	$107	 		 	$500	 	$0	 	$500	
Sub Total	 	$69,653	 	$78,513	      $18,783	 	$97,295	 	$100,500	 	$13	      $100,513	
		
9						

Pool:

$40

$563

$139

Cafe:

$536

$536

South Village	Recreational Fund
Community Development District	Continued

Amended	Actual	Projected		Total		Adopted	Changes	Amended Budget	thru		Next	Projected at	Budget		as of	Budget
 	FY2017		 7/31/2017	 2 Months	 9/30/2017	 FY2018        2/6/2018	 FY2018 

Administrative

Management Fees	$38,325	$10,698		$1,816	$12,514	$38,300	$ 25,960	$12,340 Attorney	$11,604		$0	$10,000	$10,000		$0		$0		$0 Accounting	$40,967	$33,333	$11,111	$44,444	$41,000		$0	$41,000
Computers/IT	$27,616	$3,852	$1,284	$5,135	$5,000	$0	$5,000
Telephone	$4,706	$2,293	$764	$3,057	$4,700	$0

$3,372

Postage	$85
Printing
Miscellaneous	$4,913
Credit Card Fees Operating Supplies

$26	$104	$100	$0

$4,270	$1,423	$5,693	$3,400	
$3,898	$1,299	$5,198	$4,900	
$4,340	$1,447	$5,787	$3,700	
$3,304	$1,101	$4,406	$0	

$0	$3,400
$4,900
$0	$3,700
$0	$0

Decorations	$0	$0	$0	$0

$0	$0

Permits	$1,044

$324	$1,296	$1,000

$1,000

$33,729

Insurance	 	$34,162	 	$25,296	 	$8,432	 		 	$34,200	 	$0	 	$34,200

Kids Club Programs:

$17

Sub Total	$170,463	$92,335	$39,028	$131,363	$136,300	($25,960)	$110,340

Equipment Rental	$630
Repairs & Maintenance	$1,800
Holiday Events

$26,395	$31,800

Management Fees	$15,648	$23,160	$3,235	
Electric	$0	$0	$0	

$6,261	$2,087	$8,348	
$9,119	$3,040	$12,159	

$0	$0	
$600	$0	
$1,800	$0	

$168	$673

$0
$1,800
$0	$7,500

Emp Training & Dev	$0	$0
Summer Camp	$3,500	$2,619	$873	$3,491

$0	$0	$0
$0	$3,500

$43,347

Social Events	 	$3,500	 	$1,684	 	$1,500	 	$3,184	 	$3,500	 	$0	 	$3,500

Sub Total	$32,578

$740

Lake House:

$10,903

$48,700

$48,717

Electric	$720	$240	$960	$700	$0	$700
Repairs & Maintenance	$960	$512	$171	$682	$1,000	$0	$1,000
Miscellaneous	 	 	$0	 	$0	 		 	$0	 		 	

 	$821,242	 $651,030	 $181,385	 	$832,415	 	$939,500	 		 	$881,683

$6,810	 $144,557	($124,288)

$20,269

$57,817

$64,848

Sub Total	$1,700	$1,232	$411	$1,642	$1,700	$0	$1,700
Total Expenses

Excess Revenues/(Expenditures)

10

REVENUES:
Assessments

South Village
Community Development District
RECREATIONAL FUND BUDGET

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:
Management Fees - 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 Main!. - 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:

Cafe:

Management Fees - 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.
Management Fees - Cafe/Store counter staff, cooks and Cabana Bar bartender & bar back.

12

South Village
Community Development District
RECREATIONAL FUND BUDGET
Cable - Comcast cable service to Cafe, patio and Cabana Bar.
Gas - Gas for kitchen equipment provided by Western Natural Gas. Repairs & Main! - 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 - 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.
Insurance - Amenity property insurance.
Programs:
Management Fees - Labor costs for summer camp, kid's only parties, holiday events, qimmie 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

Description

Revenues
(1J  Carry Forward Surplus
Special Assessment - Tax Collector Direct Invoices A1
Prepayments A1 Prepayments A2 Interest Income

     TOTAL REVENUES	

Expenditures

Series2 016 A1 - Refunding Bonds Interest -11 /1
Special Call -11 1/ Interest -5 /1 Principal -5 /1 Special Call -5 /1

Series 2016 A1 - Revenue Bonds Interest - 11/1
Interest -5 /1 Principal -5 /1

Series 2016 A2 - Refunding Bonds
Interest -11 /1 Interest -5 /1 Principal -5 /1 Special Call -5 /1

Series2 016 A2 - Revenue Bonds Interest -11 /1
Special Call -2 /1 Interest -5 /1 Principal -5 /1

     TOTAL  EXPENDITURES	

EXCESS REVENUES/(EXPENDITURES)

Total  Debt Gross Per		Gross Units	Unit Tax Roll	Assessment
Platted Lots- Full Debt	1072	$1,470.05	$1,575,894
Platted Lots- No 2005A Debt	59	$146.87	$8,665
Platted Lot - Partial	1	 	
Total Platted	1,132	 	$1,585,156	Net
Assessment

$1,481,340
$8, 145
$562	
	$1,490,047	

(ll Carry Forward is net of Reserve requirement

Adopted Budget
 	FY2017	

$299, 066
$1 ,49 4,237
$2 4,87 4
$0 
$0 
$3,252
     $1,821,429 

$1 49, 459
$0 
$2 06,944
$580,000
$0 

$ 42 ,047
$58,219
$0 

$77,751
$1 07,655
$16 0, 000
$0 

$15, 438
$0 
$21,375
$0 

     $1,418,887 

$402,542

$597.53

 	
Actual	Projected
thru	Next
 	7131/2017		 	2 Months	

$351,69 0	$0 
$1, 499,755
$2 4,87 4	$0 
$1 4,2 03	$0 
$ 4,521	$0 
$2,752	$5 00

     $1,897,796	 	$500 

$1 49, 459	$0 
$3 0, 000	$0 
$2 06,944	$0 
$580, 000	$0 
$15, 000	$0 

$ 42, 047	$0 
$58,219	$0 
$0	$0 

$77,751	$0 
$1 07,655	$0 
$16 0, 000
$5, 000	$0 

$15, 438
$1 0, 000	$0 
$21 3, 75	$0 
$0	$0 

     $1,478,887	 	$0 

$418,909	$500

$598

 
Total	Adopted
Projected at	Budget
 	9130/2017		 	FY2018	

$351,69 0	$ 419, 409
$1, 499,755	$1, 49 0, 047
$2 48, 7 4	$2 4,87 4
$1 4,2 03	$0 
$ 45, 21	$0 
$3,252

 	$1,898,296	 	$1,934,330 

$1 49, 459	$2 01, 094 
$3 0, 000	$0 
$2 06,944	$2 01 ,09 4
$580, 000	$585 ,000
$15,000	$0 

$ 42, 047	$57, 469
$58,219	$57, 469
$0 

$77,751	$1 04,175
$1 07,655	$1 04,175
$16 0, 000	$165, 000
$5, 000	$0 

$15, 438	$21,000
$1 0, 000	$0 
$21,375	$21,000
$0	$0 

 	$1,478,887	 $1,517,475 

$419,409	$416,855

Interest 11/1/2018:

Al Refunding	$195,244
Al Revenue	$57,469
A2 Refunding	$100,586
A2 Revenue	$21,000
$374,299

14 

South Village	Amortization Schedule

DATE

 	BALANCE	

Community Development District	Series 2016 A1,  Refunding Bonds

 	RATE		 	PRINCIPAL		 	INTEREST	 	TOTAL	

585,000
600,000
615,000
625,000
640,000
655,000
670,000
690,000
710,000
730,000
755,000
785,000
810,000
840,000
870,000
900,000
935,000
970,000
$	
13,385,000.00

$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$

201,093.75
201,093.75
1 95,243.75
195,243.75
189,243.75
189,243.75
183,093.75
1 83,093.75
176,843.75
1 76,843.75
170,043.75
170,043.75
162,265.63
162,265.63
1 53,890.63
153,890.63
1 44,403. 13 
144,403. 13 
133,753.13
1 33,753.13 
121,890.63
121,890.63
108,678.13
108,678.13
94,940.63
94,940.63
80,765.63
80,765.63
66,065.63
66,065.63
50,840.63
50,840.63
34,528. 13
34,528. 13 
17,581.25
17,581 .25

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

$

201,093.75
981,337.50
984,487.50
987,337.50
984,937.50
986,887.50
987,309.38
986,1 56.26
988,293.76
988,156.26
985,643.76
985,568.76
988,618.76
985,706.26
986,831.26
986,906.26
985,368.76
987,109.38
$	987,581.25

  $	4,570,331.36        $	17,955,331.36 

11/1/2017	$	13,385,000.00	2.00%	$
5/1/2018	$	13,385,000.00	2.00%	$

12,800,000.00	2.00%	$	
12,200,000.00	2.00%	$	
12,200,000.00	2.00%	$	

11/1/2018	$	12,800,000.00	2.00%	$
5/1/2019	$
1 1/1/2019	$
5/1/2020	$
1 1/1/2020	$	1 1,585,000.00	2.00%	$
5/1/2021	$	1 1,585,000.00	2.00%	$

10,960,000.00	2.00%	$	
1 0,320,000.00	2.13%	$	
10,320,000.00
9,665,000.00	2.13%
2.38%	$
$	
9,665,000.00	2.38%	$	
8,995,000.00	2.50%	$	
8,995,000.00	2.50%	$	

11/1/2021	$	10,960,000.00	2.00%	$
5/1/2022	$
11 /1/2022	$
5/1/2023	$
1 1/1/2023	$
5/1/2024	$
1 1/1/2024	$
5/1/2025	$
11/1/2025	$	8,305,000.00	2.75%	$
5/1/2026	$	8,305,000.00	2.75%	$
1 1/1/2026	$	7,595,000.00	3.00%	$
5/1/2027	$	7,595,000.00	3.00%	$
1 1/1/2027	$	6,865,000.00	3.25%	$
5/1/2028	$	6,865,000.00	3.25%	$
1 1/1/2028	$	6, 110,000.00	3.50%	$
5/1/2029	$	6,1 10,000.00	3.50%	$

5,325,000.00	3.50%	$	
4,515,000.00	3.50%	$	
4,515,000.00	3.50%	$	

11/1/2029	$	5,325,000.00	3.50%	$
5/1/2030	$
11 /1/2030	$
5/1/2031	$
1 1/1/2031	$	3,675,000.00	3.50%	$
5/1/2032	$	3,675,000.00	3.50%	$
1 1/1/2032	$	2,805,000.00	3.63%	$
5/1/2033	$	2,805,000.00	3.63%	$
11/1/2033	$	1,905,000.00	3.63%	$
5/1/2034	$	1,905,000.00	3.63%	$
1 1/1/2034	$	970,000.00	3.63%	$
5/1/2035	$	970,000.00	3.63%	$

  
Total	 $

••Revised 6/12/17

15 

South Village	Amortization Sc hedule
Community Development District	Series 2016 A1, Revenue Bonds

DATE	BALANCE	RATE	PRINCIPAL	INTEREST	TOTAL

11/1/2017	$	3,065,000.00	3.75%
5/1/2018	$	3,065,000.00	3.75%

$	$	57,468.75
$	$	57,468.75

$	57,468.75

11/1/2018	$	3,065,000.00	3.75%	$	$	57,468.75	$	114,937.50
5/1/2019	$	3,065,000.00	3.75%	$	$	57,468.75
11 /1/2019	$	3,065,000.00	3.75%	$	$	57,468.75	$	114,937.50
5/1/2020	$	3,065,000.00	3.75%	$	$	57,468.75
11 /1/2020	$	3,065,000.00	3.75%	$	$	57,468.75	$	114,937.50
5/1/2021	$	3,065,000.00	3.75%	$	$	57,468.75
11/1/2021	$	3,065,000.00	3.75%	$	$	57,468.75	$	114,937.50
5/1/2022	$	3,065,000.00	3.75%	$	$	57,468.75
11/1/2022	$	3,065,000.00	3.75%	$	$	57,468.75	$	114,937.50
5/1/2023	$	3,065,000.00	3.75%	$	$	57,468.75
11/1/2023	$	3,065,000.00	3.75%	$	$	57,468.75	$	114,937.50
5/1/2024	$	3,065,000.00	3.75%	$	$	57,468.75
11/1/2024	$	3,065,000.00	3.75%	$	$	57,468.75	$	114,937.50
5/1/2025	$	3,065,000.00	3.75%	$	$	57,468.75
1 1/1/2025	$	3,065,000.00	3.75%	$	$	57,468.75	$	114,937.50
5/1/2026	$	3,065,000.00	3.75%	$	$	57,468.75
11/1/2026	$	3,065,000.00	3.75%	$	$	57,468.75	$	114,937.50
5/1/2027	$	3,065,000.00	3.75%	$	$	57,468.75
11/1/2027	$	3,065,000.00	3.75%	$	$	57,468.75	$	114,937.50
5/1/2028	$	3,065,000.00	3.75%	$	$	57,468.75
11/1/2028	$	3,065,000.00	3.75%	$	$	57,468.75	$	114,937.50
5/1/2029	$	3,065,000.00	3.75%	$	$	57,468.75
1 1/1/2029	$	3,065,000.00	3.75%	$	$	57,468.75	$	1 14,937.50
5/1/2030	$	3,065,000.00	3.75%	$	$	57,468.75
11/1/2030	$	3,065,000.00	3.75%	$	$	57,468.75	$	114,937.50
5/1/2031	$	3,065,000.00	3.75%	$	$	57,468.75
11 /1/2031	$	3,065,000.00	3.75%	$	$	57,468.75	$	114,937.50
5/1/2032	$	3,065,000.00	3.75%	$	$	57,468.75
11/1/2032	$	3,065,000.00	3.75%	$	$	57,468.75	$	1 14,937.50
5/1/2033	$	3,065,000.00	3.75%	$	$	57,468.75
11/1/2033	$	3,065,000.00	3.75%	$	$	57,468.75	$	114,937.50
5/1/2034	$	3,065,000.00	3.75%	$	$	57,468.75
1 1/1/2034	$	3,065,000.00	3.75%	$	$	57,468.75	$	1 14,937.50
5/1/2035	$	3,065,000.00	3.75%	$	$	57,468.75
11/1/2035	$	3,065,000.00	3.75%	$	$	57,468.75	$	1 14,937.50
5/1/2036	$	3,065,000.00	3.75%	$	985,000	$	57,468.75
11/1/2036	$	2,080,000.00	3.75%	$	$	39,000.00	$	1 ,081 ,468.75
5/1/2037	$	2,080,000.00	3.75%	$	1, 020,000	$	39,000.00
11 /1/2037	$	1 ,060,000.00	3.75%	$	$	19,875.00	$	1 ,078,875.00

5/1/2038	$	1 ,060,000.00	3.75%	$	1,060,000	$	19,875.00

1,079,875.00

  $		 	 $	
 	Total		 $	3,065,000.00	 $	2,301 ,562.50        $	5,366,562.50 

16 

South Village	Amortization  Schedule

DATE
11 11/2016

 	BALANCE	

$

4,625,000.00

Total

Community Development District	Series 2016 A2, Refunding Bonds

 	RATE		 	PRINCIPAL		 	INTEREST	 	TOTAL	

51112017	$	4,625,000.00	4.35%	$	
11 /1/2017	$	4,465,000.00	4.35%	$	
511/2018	$	4,465,000.00	4.35%	$	
111112018	$	4,300,000.00	4.35%	$	
511/2019	$	4,300,000.00	4.35%	$	
1 1/112019	$	4,1 30,000.00	4.35%	$	
511/2020	$	4,130,000.00	4.35%	$	
1 1/112020	$	3,950,000.00	4.35%	$	
511/2021	$	3,950,000.00	4.35%	$	
11 11/2021	$	3,765,000.00	4.35%	$	
511/2022	$	3,765,000.00	4.35%	$	
11/112022	$	3,570,000.00	4.35%	$	
51112023	$	3,570,000.00	4.35%	$	
111112023	$	3,365,000.00	4.35%	$	
511/2024	$	3,365,000.00	4.35%	$	
1 1/112024	$	3,150,000.00	4.35%	$	
511/2025	$	3, 1 50,000.00	4.35%	$	
1 1/112025	$	2,925,000.00	4.35%	$	
511/2026	$	2,925,000.00	4.35%	$	
1 1/112026	$	2,690,000.00	4.35%	$	
511/2027	$	2,690,000.00	4.88%	$	
1 1/112027	$	2,445,000.00	4.88%	$	
511/2028	$	2,445,000.00	4.88%	$	
1 1/112028	$	2,190,000.00	4.88%	$	
511/2029	$	2,190,000.00	4.88%	$	
1 1/112029	$	1,920,000.00	4.88%	$	
511/2030	$	1,920,000.00	4.88%	$	
1 1/112030	$	1,635,000.00	4.88%	$	
511/2031	$	1,635,000.00	4.88%	$	
1 1/112031	$	1,340,000.00	4.88%	$	
511/2032	$	1,340,000.00	4.88%	$	
1111/2032	$	1,030,000.00	4.88%	$	
511/2033	$	1,030,000.00	4.88%	$	
1 1/112033	$	705,000.00	4.88%	$	
511/2034	$	705,000.00	4.88%	$	
1 1/112034	$	360,000.00	4.88%	$	
511/2035	$	360,000.00	4.88%	$
  $		

4.35%	$	$	77,750.83	$	77,750.83
160,000	$	107,655.00
$	104,175.00	$	371,830.00
165,000	$	104,175.00
$	100,586.25	$	369,761 .25
170,000	$	100,586.25
$	96,888.75	$	367,475.00
180,000	$	96,888.75
$	92,973.75	$	369,862.50
1 85,000	$	92,973.75
$	88,950.00	$	366,923.75
1 95,000	$	88,950.00
$	84,708.75	$	368,658.75
205,000	$	84,708.75
$	80,250.00	$	369,958.75
215,000	$	80,250.00
$	75,573.75	$	370,823.75
225,000	$	75,573.75
$	70,680.00	$	371,253.75
235,000	$	70,680.00
$	65,568.75	$	371,248.75
245,000	$	65,568.75
$	59,596.88	$	370,165.63
255,000	$	59,596.88
$	53,381.25	$	367,978.13
270,000	$	53,381.25
$	46,800.00	$	370, 181.25
285,000	$	46,800.00
$	39,853.13	$	371,653.13
295,000	$	39,853.13 
$	32,662.50	$	367,515.63
310,000	$	32,662.50
$	25,1 06.25	$	367,768.75
325,000	$	25,1 06.25
$	17,184.38	$	367,290.63
345,000	$	17,1 84.38
$	8,775.00	$	370,959.38
360,000	$	8,775.00
 	      $	368,775.00 
$    4,625,000.00	 $	2,472,834.58      $	7,097,834.58 

17

South Village	Amortization Schedule
Community Development District	Series 2016 A2, Revenue Bonds
DATE	BALANCE	RATE	PRINCIPAL	INTEREST	TOTAL
11 /1/2017	$	840,000,00	5.00%	$	$	21,000,00	$	21,000.00
5/1/2018	$	840,000,00	5.00%	$	$	21,000,00
11 /1/2018	$	840,000,00	5.00%	$	$	21 ,000.00	$	42,000,00
5/1/2019	$	840,000,00	5,00%	$	$	21 ,000,00
11 /1/2019	$	840,000,00	5.00%	$	$	21 ,000,00	$	42,000.00
5/1/2020	$	840,000,00	5,00%	$	$	21,000,00
11/1/2020	$	840,000,00	5,00%	$	$	21,000.00	$	42,000,00
5/1/2021	$	840,000.00	5.00%	$	$	21,000,00
11/1/2021	$	840,000,00	5.00%	$	$	21,000.00	$	42,000,00
5/1/2022	$	840,000,00	5.00%	$	$	21,000,00
11/1/2022	$	840,000.00	5.00%	$	$	21,000,00	$	42,000,00
5/1/2023	$	840,000,00	5.00%	$	$	21,000.00
11/1/2023	$	840,000,00	5.00%	$	$	21 ,000,00	$	42,000,00
5/1/2024	$	840,000,00	5.00%	$	$	21 ,000,00
1 1/1/2024	$	840,000,00	5.00%	$	$	21 ,000,00	$	42,000.00
5/1/2025	$	840,000.00	5.00%	$	$	21 ,000,00
11/1/2025	$	840,000,00	5.00%	$	$	21 ,000.00	$	42,000,00
5/1/2026	$	840,000,00	5.00%	$	$	21 ,000,00
11/1/2026	$	840,000,00	5.00%	$	$	21 ,000,00	$	42,000,00
5/1/2027	$	840,000,00	5.00%	$	$	21,000,00
11/1/2027	$	840,000,00	5.00%	$	$	21,000,00	$	42,000.00
5/1/2028	$	840,000.00	5.00%	$	$	21,000.00
11/1/2028	$	840,000,00	5.00%	$	$	21,000,00	$	42,000,00
5/1/2029	$	840,000,00	5.00%	$	$	21,000,00
1 1/1/2029	$	840,000.00	5.00%	$	$	21 ,000.00	$	42,000,00
5/1/2030	$	840,000,00	5.00%	$	$	21 ,000,00
11/1/2030	$	840,000,00	5.00%	$	$	21,000,00	$	42,000,00
5/1/2031	$	840,000,00	5.00%	$	$	21 ,000,00
11 /1/2031	$	840,000,00	5,00%	$	$	21 ,000,00	$	42,000.00
5/1/2032	$	840,000,00	5.00%	$	$	21 ,000,00
11/1/2032	$	840,000,00	5.00%	$	$	21 ,000.00	$	42,000.00
5/1/2033	$	840,000,00	5.00%	$	$	21 ,000,00
1 1/1/2033	$	840,000,00	5.00%	$	$	21,000,00	$	42,000,00
5/1/2034	$	840,000,00	5.00%	$	$	21,000,00
11/1/2034	$	840,000,00	5.00%	$	$	21,000,00	$	42,000,00
5/1/2035	$	840,000,00	5.00%	$	$	21,000,00
11/1/2035	$	840,000,00	5.00%	$	$	21,000,00	$	42,000,00
5/1/2036	$	840,000,00	5.00%	$	265,000	$	21,000,00
11/1/2036	$	575,000.00	5.00%	$	$	14,375.00	$	300,375.00
5/1/2037	$	575,000,00	5.00%	$	280,000	$	14,375,00
1 1/1/2037	$	295,000,00	5.00%	$	$	7,375,00	$	301,750,00

5/1/2038	$	295,000,00	5.00%	$	295,000	$	7,375,00

$	302,375.00

  $		 	    	
 	Total	 $	840,000,00	 $	841 ,500,00       $	1,681 ,500.00 

18 

South Village
Community Development District

Debt Service Fund Series 2016 A3

 	
Adopted	Actual
Budget	thru

Description	FY2017	7/31/2017

Revenues

$735

$109,0 19
$400, 488	$109 ,02 1
$300 3, 66		$0
$100, 122		$109,02 1
$400, 488		$150,27 4
$396, 452	
	$0
$410		$0
$325		$0		$0
$0	
$510,242	$409,797		$100,447		$510,244		$546,726	

,,,	Carry Forward Surplus Special Assessment Developer Contributions Interest Income

Projected Next
2 Months

Total	Adopted
Projected at	Budget
9/30/2017	FY2018   	

$735

TOTAL REVENUES

Expenditures
Series20 16 A3 - Refunding Bonds
Interest - 11/1	$6 8,2 14	$6 8,2 14 
Interest -5/1	$100,000	$100,000
Principal -5/1	$9 4, 450	$9 4, 450
Series20 16 A3 - Revenue Bonds
Interest - 11/1	$40, 806	$40, 806
Interest -5/1	$56,500	$56,500

$0	$6 8,2 14	$9 1, 700
$0	$100,000	$105,000
$0	$9 4, 450	$9 1, 700

$0	$40, 806	$56 5, 00
$0	$56 5, 00	$56 5, 00

TOTAL EXPENDITURES

$359,969

 	$359,969	 	$0 

$359,969

$401,400

Principal -5/1	$0	$0	$0

	EXCESS REVENUES/(EXPENDITURES)	$150,273	$49,827	$100,447		$150,274		$145,326	
'"	
Carry Forward is net of Reserve requirement								
 		Interest 11/1/2018:
Total Debt Gross Per	Gross	Net
Units     Unit Tax Roll	Assessment	Assessment	A3 Refunding	$88, 813
A3  Revenue	$56 500	
Platted Lots - Full Debt	197	$2,140.90	 	$421,757	 	$396,452	$145,3 13	
Total Platted	197		 	$421,757	 	$396,452		

19

South Village	Amortization Schedule

 	DATE		 	BALANCE		RATE		PRINCIPAL		INTEREST		TOTAL	
1 1/1/2016	$	3,270,000.00	5.50%	$	$	68,213.89	$	68,213.89	
5/1/2017 	$	3,270,000.00	5.50%	$	100,000	$	94,450.00	

Community Development District	Series 2016 A3, Refunding Bonds

11/1/2017	$	3,170,000.00	5.50%	$	$	91 ,700.00	$	286,150.00
5/1/2018	$	3,170,000.00	5.50%	$	105,000	$	91,700.00
11/1/2018	$	3,065,000.00	5.50%	$	$	88,812.50	$	285,512.50
5/1/2019	$	3,065,000.00	5.50%	$	110,000	$	88,812.50
11 /1/2019	$	2,955,000.00	5.50%	$	$	85,787.50	$	284,600.00
5/1/2020	$	2,955,000.00	5.50%	$	115,000	$	85,787.50
1 1/1/2020	$	2,840,000.00	5.50%	$	$	82,625.00	$	283,412.50
5/1/2021	$	2,840,000.00	5.50%	$	125,000	$	82,625.00
11 /1/2021	$	2,715,000.00	5.50%	$	$	79,187.50	$	286,812.50
5/1/2022	$	2,715,000.00	5.50%	$	130,000	$	79,187.50
11/1/2022	$	2,585,000.00	5.50%	$	$	75,612.50	$	284,800.00
5/1/2023	$	2,585,000.00	5.50%	$	140,000	$	75,612.50
11/1/2023	$	2,445,000.00	5.50%	$	$	71,762.50	$	287,375.00
5/1/2024	$	2,445,000.00	5.50%	$	145,000	$	71,762.50
11/1/2024	$	2,300,000.00	5.50%	$	$	67,775.00	$	284,537.50
5/1/2025	$	2,300,000.00	5.50%	$	155,000	$	67,775.00
11/1/2025	$	2,145,000.00	5.50%	$	$	63,512.50	$	286,287.50
5/1/2026	$	2,145,000.00	5.50%	$	165,000	$	63,512.50
11/1/2026	$	1,980,000.00	5.50%	$	$	58,975.00	$	287,487.50
5/1/2027	$	1,980,000.00	5.50%	$	170,000	$	58,975.00
1 1/1/2027	$	1 ,810,000.00	6.00%	$	$	54,300.00	$	283,275.00
5/1/2028	$	1 ,810,000.00	6.00%	$	1 80,000	$	54,300.00
1 1/1/2028	$	1,630,000.00	6.00%	$	$	48,900.00	$	283,200.00
5/1/2029	$	1,630,000.00	6.00%	$	195,000	$	48,900.00
1 1/1/2029	$	1 ,435,000.00	6.00%	$	$	43,050.00	$	286,950.00
5/1/2030	$	1,435,000.00	6.00%	$	205,000	$	43,050.00
11/1/2030	$	1,230,000.00	6.00%	$	$	36,900.00	$	284,950.00
5/1/2031	$	1,230,000.00	6.00%	$	220,000	$	36,900.00
1 1/1/2031	$	1,010,000.00	6.00%	$	$	30,300.00	$	287,200.00
5/1/2032	$	1 ,010,000.00	6.00%	$	230,000	$	30,300.00
11/1/2032	$	780,000.00	6.00%	$	$	23,400.00	$	283,700.00
5/1/2033	$	780,000.00	6.00%	$	245,000	$	23,400.00
11/1/2033	$	535,000.00	6.00%	$	$	16,050.00	$	284,450.00
5/1/2034	$	535,000.00	6.00%	$	260,000	$	16,050.00
1 1/1/2034	$	275,000.00	6.00%	$	$	8,250.00	$	284,300.00
5/1/2035	$	275,000.00	6.00%	$	275,000	$	8,250.00
  $		 	 $	283,250.00 

 	Total		 $	3,270,000.00	 $	2,216,463.89          $	5,486,463.89 

20

South Village	Amortization Schedule

Community Development District	Series 2016 A3, Revenue Bonds

 	DATE		 	BALANCE		 	RATE		 	PRINCIPAL		 	INTEREST	 	TOTAL	

11 /1 /201 6	$	2, 260, 000.00	5.00%	$	$	40, 805.56	$	40,805. 56
5/1 /2017	$	2, 260, 000.00	5.00%	$	$	56, 500.00
11 /1 /201 7	$	2, 260, 000.00	5.00%	$	$	56, 500.00	$	11 3, 000. 00
5/1 /201 8	$	2, 260, 000.00	5.00%	$	$	56, 500.00
11 /1 /201 8	$	2, 260, 000. 00	5. 00%	$	$	56, 500.00	$	11 3,000. 00

11 /1 /201 9	$	2, 260, 000.00	5. 00%	$	$	56, 500.00	
5/1 /2020	$	2,260, 000. 00	5. 00%	$	$	56, 500. 00	

5/1 /201 9	$	2, 260, 000.00	5.00%	$	$	56, 500.00
$	11 3,  000.00
11 /1 /2020	$	2, 260, 000. 00	5. 00%	$	$	56, 500. 00	$	11 3,000.00
5/1 /2021	$	2,260, 000. 00	5. 00%	$	$	56, 500. 00
11 /1 /2021	$	2, 260, 000.00	5. 00%	$	$	56, 500.00	$	11 3, 000. 00
5/1 /2022	$	2, 260, 000.00	5. 00%	$	$	56, 500.00
11 /1 /2022	$	2, 260, 000.00	5. 00%	$	$	56, 500.00	$	11 3, 000.00
5/1 /2023	$	2, 260, 000.00	5.00%	$	$	56, 500.00
11 /1 /2023	$	2,260, 000.00	5.00%	$	$	56, 500.00	$	11 3, 000.00
5/1 /2024	$	2,260, 000.00	5.00%	$	$	56,500.00
11 /1 /2024	$	2, 260, 000. 00	5. 00%	$	$	56,500.00	$	11 3, 000.00
5/1 /2025	$	2,260, 000. 00	5.00%	$	$	56,500.00
11 /1 /2025	$	2, 260, 000. 00	5.00%	$	$	56,500.00	$	11 3,000.00
5/1 /2026	$	2,260, 000.00	5. 00%	$	$	56, 500.00
11 /1 /2026	$	2,260, 000. 00	5.00%	$	$	56,500.00	$	11 3,000.00
5/1 /2027	$	2,260, 000. 00	5.00%	$	$	56,500.00
11 /1 /2027	$	2,260,000.00	5. 00%	$	$	56, 500.00	$	11 3,000.00
5/1 /2028	$	2,260,000.00	5. 00%	$	$	56,500.00
11 /1 /2028	$	2,260,000.00	5. 00%	$	$	56,500.00	$	11 3,000.00
5/1 /2029	$	2,260,000.00	5.00%	$	$	56,500. 00
11 /1 /2029	$	2,260,000.00	5. 00%	$	$	56,500. 00	$	11 3,000.00

11 /1 /2030	$	2,260,000.00	5.00%	$	$	56,500.00	$	
5/1 /2031	$	2,260,000.00	5.00%	$	$	56,500.00		
11 /1 /2031	$	2,260, 000. 00	5.00%	$	$	56,500.00	$	

5/1 /2030	$	2, 260,000.00	5.00%	$	$	56,500.00

5/1 /2032	$	2, 260, 000.00	5.00%	$	$	56,500.00

11 3,000.00
11 3,000. 00

11 /1 /2032	$	2, 260, 000.00	5.00%	$	$	56,500. 00	$	11 3, 000.00
5/1 /2033	$	2, 260, 000. 00	5.00%	$	$	56,500.00
11 /1 /2033	$	2, 260, 000.00	5.00%	$	$	56,500.00	$	11 3,000.00
5/1 /2034	$	2, 260, 000. 00	5.00%	$	$	56,500.00
11 /1 /2034	$	2, 260, 000. 00	5.00%	$	$	56,500.00	$	11 3,000.00
5/1 /2035	$	2,260,000.00	5.00%	$	$	56,500.00
11 /1 /2035	$	2,260,000. 00	5.00%	$	$	56,500.00	$	11 3, 000.00
5/1 /2036	$	2,260,000. 00	5. 00%	$	1 60, 000	$	56, 500.00
11 /1 /2036	$	2,1 00,000.00	5. 00%	$	$	52,500.00	$	269,000.00
5/1 /2037	$	2,1 00,000. 00	5. 00%	$	1 65, 000	$	52,500.00

1 ,935,000.00	5. 00%	
1, 760,000. 00	5. 00%	
1, 760, 000.00	5.00%	
1 ,575,000.00	5. 00%	

11 /1 /2037	$	1 ,935,000. 00	5. 00%	$	$	48,375.00	$	265,875.00

5/1 /2038	$
11 /1 /2038	$
5/1 /2039	$
11 /1 /2039	$

$	1 75, 000	$	48,375.00
$	$	44,000.00	$	267,375.00
$	1 85, 000	$	44,000.00
$	$	39, 375.00	$	268, 375. 00

5/1 /2040	$	1, 575,000. 00	5.00%	$	1 95, 000	$	39,375. 00
11 /1 /2040	$	1 ,380, 000. 00	5. 00%	$	$	34,500. 00	$	268, 875. 00
5/1 /2041	$	1 ,380, 000.00	5.00%	$	200, 000	$	34, 500. 00
11 /1 / 2041	$	1,1 80, 000.00	5.00%	$	$	29, 500.00	$	264, 000.00
5/1 /2042	$	1,1 80, 000.00	5. 00%	$	21 5, 000	$	29, 500.00
11 /1 /2042	$	965, 000.00	5.00%	$	$	24,1 25.00	$	268, 625.00
5/1 /2043	$	965, 000.00	5.00%	$	225, 000	$	24,1 25. 00
11 /1 /2043	$	740, 000.00	5.00%	$	$	1 8, 500.00	$	267, 625.00
5/1 /2044	$	740, 000. 00	5.00%	$	235, 000	$	1 8, 500.00
11 /1 /2044	$	505, 000. 00	5.00%	$	$	1 2, 625.00	$	266,1 25.00
5/1 /2045	$	505, 000.00	5.00%	$	245,000	$	1 2, 625.00
11 /1 /2045	$	260,000.00	5.00%	$	$	6, 500.00	$	264,1 25.00
5/1 /2046	$	260,000.00	5.00%	$	260, 000	$	6, 500. 00
$	266, 500.00
  $		 	    	

 	Total	 $	2,260,000.00	 $	2,864, 305.56     $	5,1 24,305. 56 

21

South Village	Golf Course
COMMUNITY DEVELOPMENT DISTRICT

Guest Fees	$1,143,717	$833,191	$141,374	$974,565	$1,120,300	
Acct Cart Fees	$36,440	$39,376	$3,442	$42,818	$46,500	
Tournament Revenue	$93,900	$68,668	$17,453	$86,121	$75,700	
Dues Revenue	$200,919	$172,954	$36,405	$209,360	$210,000	
Initiation Fees	$3,000	$2,701		$2,701	$3,000	
Food & Beverage Sales	$395,947	$270,411	$65,875	$336,286	$357,500	
Liquor Sales
Banquet Revenue	$225,534
$46,691	$220,514
$72,565	$29,867	$250,381
$72,565	$282,600
$92,500	
Banquet Alcohol	$1,889					
Tournament Food	$12,317		$10,772	$10,772		
Merchandise Sales-Pro Shop	$138,728	$99,062	$22,577	$121,638	$120,200	
Driving Range Revenue	$37,824	$24,287	$4,866	$29,153	$29,900	
Miscellaneous Income	$3,862
$10,608	$2,635
$22,295	$816
$1,505	$3,451
$23,800	$3,600
$19,700	
TOTAL REVENUES	$2,351,378	$1,828,661	$334,950	$2,163,611	$2,361,500	
COST OF GOODS SOLD:						
Food	
$136,487	
$104,313	
$22,744	
$127,057	
$153,800	
Liquor	$77,324	$87,874	$10,205	$98,079	$98,900	
Merchandise	$97,110 	$75,984	$15,804	$91,788	$84,100	
TOTAL COGS	$310,921	$268,171	$48,752	$316,923	$336,800	
TOTAL NET REVENUES	$2,040,457

EXPENDITURES:	$1,560,489	$286,198	$1,846,687	$2,024,700	

Personnel:
Salaries	$264,300	

$216,089	

$45,745	

$261,834	

$267,800	
Hourly	$610,766	$484,304	$104,599	$588,903	$636,600	
Payroll Processing	$6,089	$4,763	$1,094	$5,856	$6,300	
Labor Recovery	($1,800)	($292)	($300)	($592)	($2,200)	
Payroll Taxes	$95,028	$66,510	$14,577	$81,087	$84,800	
Workers Compensation	$22,863	$16,351	$3,872	$20,223	$20,200	
Benefits	$46,972	$51,431		$59,225	$63,800	
Other Personnel Cost	$30,000	$16,413		$21,320	$37,200	

REVENUES:

ADOPTED
FY2017
    BUDGET 

Thni.JµiY' - Neil� _MO!lthfi Forecast

FY 2017	Projected	FY2017

ADOPTED
FY2018
BUDGET

Rental of Clubs

$7,794

TOTAL PERSONNEL	 $1,074,218 	$855,570	$182,287	$1,037,857	$1,114,500

South Village	GolfCourse
COMMUNITY DEVELOPMENT DISTRICT

ADOPTED
FY2017
BUDGET

\:(thr'i{Jl!IY

FY 2017	Projected	FY2017

Next �'.M'Onrt,§   Forecast

ADOPTED
FY2018
BUDGET

Golf Course Ex11.enditures:
Advertising	$50,000	$15,222	$8,654	$23,876	$44,000
Bank Charges	$5,584	$4,463	$1,420	$5,882	$7,100
Beverage Cart Lease	$5,534	$4,513	$922	$5,436	$2,300
Cable/Dish TV	$4,980	$4,877	$830	$5,707	$6,000
Chemicals	$79,914	$77,402	$3,000	$80,402	$79,900 China,  Glass and Silveiware		$1 ,500			$633		$250			$883		$1,500 Cleaning Supplies		$7,742		$6,935	$1,522		$8,457		$7,900 Contract Labor			$14,730			$14,730	$15,100 Course Accessories	$11 ,000		$9,452	$1,000	$10,452	$14,000
Credit Card Fees	$39,589	$31,804	$6,891	$38,694	$40,300
Discounts/Rebates	($18,196)        ($1,840)       ($20,036)	($16,800)
Electricity	$44,127	$31,235	$7,695	$38,930	$40,100
Equipment Rental	$2,654	$3,417	$276	$3,693	$5,800
Fertilizer	$57,120	$48,479	$4,350	$52,829	$57,100
Gas & Oil	$29,400	$10,508	$6,400	$16,908	$21,300
Gas/Propane	$16,712	$9,751	$3,560	$13,310	$13,300
Golf Cart Lease	$57,659	$50,877	$9,610	$60,487	$69,000
Golf Cart Repairs	$10,700	$4,803	$3,558	$8,361	$6,000
Insurance - Property	$41,065	$36,716	$7,155	$43,872	$46,900

Janitorial & Pest Control	$2,978	$3,195	$479

$3,600

Legal Fees	$12,000	$13,096	$2,833	$1 5,929	$13,700

$6,155	$5,958	$992	$6,950	$8,300	
$9,023	$12,165	$1,497	$1 3,662	$12,200	
$139,025	$121 ,822	$23,027	$144,849	$130,900	
$4,000	$4,580	$667	$5,246	$3,900	

Audit Fees	$5,000
License, Tax and Permit Linen Rentals
Member promotions Office Supplies
Paper Supplies	$26,051	$23,182	$4,182	$27,364	$26,100 Personal Property Taxes		$8,597		$7,324			$7,324		$8,900 Plant, Seed and Sod		$4,100		$2,279			$2,279		$4,100
Postage & Delivery	$700	$1,426	$125	$1,551	$700
Pump Electricity	$18,563	$20,117	$2,284	$22,401	$24,400
R&M - Building/Grounds	$7,600	$7,752	$1,100	$8,852	$7,600
R&M - Equipment	$34,669	$27,496	$7,563	$35,059	$35,300

$7,253

R&M - Irrigation	$8,550	$6,003	$1,250

$8,600

Range Supplies	$8,400	$5,006	$5,006	$8,400
Reservation Systems	$11,160	$9,300	$1,860	$11,160	$11 ,400
Score Cards	$2,400	$1,100	$1,200	$2,300	$2,400

$3,783

Security			$609		$514		$152		$666		$600 Software Support/Maint.	$13,050	$2,208	$2,000	$4,208	$3,600 Telephone		$6,204	$6,201	$1,034	$7,235	$8,400

Top Dressing/Bunker Sand	$13,850

$2,500	$6,283	$12,600

Trash Removal	$20,600	$24,221	$3,433	$27,654	$24,200
Travel	$5,904	$8,744	$1,184	$9,928	$6,600
Uniforms	$4,050	$1,888	$975	$2,863	$4,100

South Village	GolfCourse
COMMUNITY DEVELOPMENT DISTRICT

Management Fee - GC	$100,000	$83,330	$16,667	$99,997	$100,000
Management Fee - CDD	$25,000	$20,833	($20,833)	($0)
Real Estate Taxes	$38,043	$26,026	$2,000	$28,026	$12,000
Equipment Lease	$63,533	$41,359	$18,149	$59,508	$81,100

$978

Equipment Interest	$1,662	$3,046

$4,024	$12,100

Water and Sewer	$26,258	$24,325	$5,724	$30,049	$24,800
Contingency	$50,000	$21,720	$5,856	$27,577	$66,000

TOTAL GOLF COURSE	    $1,143,014		 	$887,620	$154,130	$1,041,750	$1,127,400	
TOTAL EXPENDITURES	

    $2,217,232		

    $1,743,190	$336,417	$2,079,606	$2,241,900	
OPERATING INCOME/(LOSS)	

      ($176,775)		      ($182,700)	($50,219)	($232,919)	($217,200)	

Non Ouerating Revenues/(Exuendituresl:
Special Assessments - Net	$273,980	$298,100
Developer Contributions	$2,795

Capital Outlay/ Reserve	($100,000)		($81,000)	
NON OPERATING REVENUES/(EXPEND!TURES)	 	$176,775		 	$274,712	$274,712	$217,100	
NET INCOME	
 	$0		
$92,012	 $98,393	($100)	

Transfer In - Operating Capital/Deficit	$274,712	$274,712

Assessments - Net Collection Cost ( 6%) Assessments - Gross	
$   273,980
$	17,488	
$	298,119 
$	19,029	
	$ 291,468	$	317,148	
			
Assessable Units	1,135	1,235	
Assessments Per Unit - Gross Assessments Per Unit � NET	$256.80
$241.39	$256.80
$241.39	

South Village
COMMUNITY DEVELOPMENT DISTRICT

Description

 	

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
TOTAL REVENUES COST OF GOODS SOLD:
Food Liquor
Merchandise
TOTAL COGS
TOTAL NET REVENUES

EXPENDITURES:

Personnel:
Salaries Hourty
Payroll Processing Labor Recovery Payroll Taxes
Workers Compensation Benefits
other Personnel Cost TOTAL PERSONNEL

Greens fees
Golf cart rental fees
Greens fees related lo tournaments and events Golf member and Player's Club dues Golfmember 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 truces
Workers compensation insurance Health, dental, vision, and other benefits
Performance related variable compensation

South Village
COMMUNITY DEVELOPMENT DISTRICT

Description

 	

Golf CourseExpenditures:
Advertising Bank Charges
Beverage Cart Lease Cable/Dish TV Chemicals
China, Glass and Silverware Cleaning Supplies
Contract Labor Course Accessories Credit Card Fees Discounts/Rebates Electricity Equipment Rental Fertilizer
Gas & 011 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 Reseivation Systems Score  Cards Security
Software SupporVMaint. Telephone
Top Dressing/Bunker Sand Trash Removal
Travel Uniforms

Print and digital advertising for all departments Charges for automatic drafts from EFT
Lease ofon course beverage cart
Monthly charges for Comcast TV and wireless internet Turf related chemicals such as funglcldes and herbicides Replacement china, glass, and silverware
General clubhouse related cleaning supplies Contract Service to Clean Clubhouse
On course ftems such as tee markers; flags, cups
Fees due to credit card company for processing of charges Discounts Received thru National Account Agreements from CGPM 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 of golf 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 foroperating 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 persona! 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 sate and reservation system Golfcourse 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

South Village
COMMUNITY DEVELOPMENT DISTRICT

Management Fee - GC Management Fee � COD Real Estate Taxes Equipment Thru June Equipment Thru June Waterand Sewer Contingency
TOTAL GOLF COURSE TOTAL EXPENDITURES

Description	
Annual management fee to Arnold Palmer Golf/ Century Golf Annual real estate taxes related to the property
Lease of golf course maintenance equipment Irrigation and potable water expense

OPERATING INCOMEl(LOSS)