Approved Budget
Fiscal Year 2020·

South Village Community Development District

June 4, 2019

South Village
Community Development District

General Fund

 	 	 	 	

Description

Amended Budget
 	FY2019	

Actual
thru
 	4/30/19	

Projected
Next
 	5 Months	

Total Projected at
 	9/30/19	

Approved Budget
 	FY2020	

Revenues

$740,954		$645,190		$95,764		$740,954		$612.453	
$1,267		$950		$317		$1,267		$86,314	
$0		$1,172		$100		$1,272		$0	
$0		$25,000		$0		$25,000		$0	
 	$742,221 		 	$672 312 		 	$96,181 		 	$768 493 		$698,767	

Maintenance Assessments -Tax Collector Maintenance Assessments - Direct Interest Income
Misc. Income - Boundary Amendment Total Revenues

Expenditures
Administrative
Supeivisors Fees FICA Taxes Engineering Arbitrage Dissemination Agent Assessment Roll Attorney
Annual Audit Trustee Management Fees Computer Time Telephone Postage
Insurance  Printing & Binding Legal Advertising
Other Current Charges Office Supplies
Dues, Licenses, Subscriptions Contingency

$13,000
$1,000
$15,000
$1,800
$5,000
$5,300
$35,000
$4,500
$15,000
$45,000
$1,000
$500
$1,500
$7,200
$3,300
$1,000
$1,200
$100
$200
$572

$6,800
$520
$2,750
$0
$3,500
$5,260
$29,500
$0
$0
$26,250
$583
$476
$1,091
$5,298
$1,921
$2,762
$2,933
$239
$175
$0

$4,000
$306
$5,500
$1,800
$3,542
$0
$10,500
$4,500
$12,102
$18.750
$417
$340
$779
$0
$1,372
$1,973
$2,095
$171
$0
$500

$10,800
$826
$8,250
$1,800
$7,042
$5,260
$40,000
$4,500
$12,102
$45,000
$1,000
$816
$1,870
$5,298
$3,293
$4,735
$5,028
$410
$175
$500

$18,000
$1,377
$15,000
$1,800
$8,500
$5,300
$40,000
$7,000
$15,000
$49,000
$1,000
$500
$1,500
$7,200
$3,300
$5,000
$1,200
$100
$200
$572

Sub-Total - Administrative Expenses

 	$157,172 

 	$90,058	 	$68,646	 	$158 704 

$181,549

Community Appearance

lnterlocal Agreement - MVCDD Landscape - Contract Landscape - Contingency Personnel
Facility & Grounds Maintenance (Labor)
Landscape - lnigation Repairs Lake - Contract
Utilities
Phase 5&6 Maintenance Miscellaneous - Direct Cost Security
Capital Outlay

$36,000	$35.754	$0	$35,754	$36,000	
$155,518	$88,076	$62,912	$150,988	$155,518	
$30,000	$19,904	$14,217	$34,121	$30,000	
$58,798	$2,531	$50,000	$52,531	$0	
$0	$0	$0	$0	$52,000	
$10,500	$0	$10,500	$10,500	$10,500	
$25.423	$15,162	$10,830	$25,992	$30,000	
$95,000	$37,677	$37,677	$75,354	$95,000	
$0	$0	$0	$0	$75,000	
$10,000	$9,720	$6,943	$16,663	$10,000	
$23,200	$15,657	$11,184	$26,841	$23,200	

 	$0 

 	$5,181 

 	$0 

 	$5,181 

 	$0 

Sub-Total - Community Appearance

 	$444 439 

 	$229,662	 	$204,262 

 	$428,743 

$517,218

 	

TOTAL EXPENDITURES

Other Sources/(Uses):

lnterfund Transfer Out - Rec Fund lnterfund Transfer Out - Golf Fund

 	$601,611	 	$319,720	 	$272,908 

 	$587,448 

$698,767

TOTAL OTHER

EXCESS REVENUES/(EXPENDITURES)

 	 	 	

($88,320}	$0	($88,320}	($88,320)	$0	
($52,290}	$0	($52,290}	($52,290)	$0	

 	($140,610)	 	$0	 	($140,610)	($140,610)	 	$0 

$0	$352,592	($317,337)	$40,435	$0

South Village
Community Development District

Platted Lots	FY2019	FY2020	

Assessments - Platted Lots	
1233	
1332	
Net-Assessment Rate	$1,104.50	$1,104.50	
Total Net Assessments - Tax Collector	$1,361,849	$1,471,194	
Gross Assessment (6% Discounts/Collections)	$1,448,775	$1,565,100	
Gross Assessment - Per Unit	$1,175	$1,175	
Phase 6			
Assessments - Platted Lots		77	
Net-Assessment Rate		$1,104.50	
Total Net Assessments - Direct Assessment		$85,047	

Allocation of On Roll Assessments:
Total Net Assessments - Tax Collector Platted	$1,471,194

Total Assessment  - Tax Collector	$1,471,194	
General Fund	$612,453	
Recreation Fund	$858 741	
	$1,471,194	

IDirect Invoices	FY2020

Eagle Landing LP
Phase 6 Lots

13-04-24-005542-010-00	$1,267
$85,047

 	$86,314 

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 CDD 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 $12,582.34 per month, or $150,988.08 annually.

Facility & Grounds Maintenance

Represents contracted amount paid to HonoursGolf for a fulltime 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.

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 $2,166 per month, or $25,992 annually. Amount budgeted includes a 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	$	1,586	$ 19,032	
592937-7	3935-2 Eagle Landing/St Lights	$	150	$	1,800	
647443-1	4045-2 Eagle Crossing Drive	$	60	$	750	
	Contingency		$ 10,000	
		Total	$ 31,582	
	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:

,'50222067
;'50229064
'50230632
/50230638
r&o230640 i"60230641
i'oo23o642 1'50235500
/50233750
,'50502768
;'50502779
'50556739

3989 Eagle Landing Parkway 3979-2 Eagle Landing Parkway 3965-1Eagle Landing Parkway 3965:2Eagle Landing Parkway
396.5 3 Eagle Landing Parkway 3975 Ea1:le Landing Parkway 3979Eagle Landing Parkway 4108-1 Eagle Landing Parkway Irr 1433-1 Eagle Landing Parkway
2180 Club Lake Drive Reclaimed Irr 2319 Club Lake Drive Reclaimed Irr 1294 Autumn Pines Drive
Contingency

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

108 ts
708 I$
1,381 l s
69 Is
52  [ $
117 rs
272 j $ 197 Is 68 Is
357 is
31  i $

Total $

-	3.
35   j $
is
4,20s  I $

1,296
8,496
16,572
828
624
1,404
3,264
2,364
816
4,284
372
420
12,922
63,418

Account#	Service Address	Monthly	Annually

1'50213095	3924-1Eagle Landing Pkwy	$	415 Is	
4,980	
/50213119	3988-1 Eagle Landing Parkway	$	126 I$	1,512	
,'50215602
/50220803	3968-1Eagle Landing Parkway
3973 Eagle Landing Parkway	$	162 Is	1,944
$	110 i $	1,320	

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	Debt Service Fund
Series 2016 A1/A2

Adopted Budget
Description	 	FY2019			Actual thru
4/30/19			Projected Next
5 Months		Total Projected at 9/30/19		Approved Budget FY2020	

Revenues						
Carry Foiward Surplus	$430,291	$430,773	$0	$430,773	
$386,488	
Special Assessment - Tax Collector	$1,490,047	$1,294,533	$195,514	$1,490,047	$1,490,047	
Direct Invoices	$24,874	$18,656	$6,218	$24,874	$24,874	
Prepayments
Interest Income	$0
$0		$64,569
$17,811		$0
$4,000		$64,569
$21,811		$0
$0	
TOTAL REVENUES		$1,945,212	$1,826,342	$205,732	$2,032,074	$1,901,409		

,,,

,,,

Expenditures

Series 2016 A1 - Refunding Bonds

Interest - 11/1	$195,013	$195,013	$0	$195,013	$187,803	
Special Ca!l -11/1	$0	$35,000	$0	$35,0b0	$0	
Interest - 5/1	$195,013	$0	$195,013	$195,013	$187,803	
Principal - 5/1	$600,000	$0	$600,000	$600,000	$610,000	
Speclal Call - 5/1	$0	$0	$75,000	$75,000	$0	

Series 2016 A1 - Revenue Bonds					
Interest - 11/1	$57,281	$57,281	$0	$57,281	$57,281	
Interest - 5/1	$57,281	$0	$57,281	$57,281	$57,281	

Series 2016 A2 - Refunding Bonds						
lnterest-11/1	$99,624	$99,624	$0	$99,624	$95,245	
Interest - 5/1	$99,624	$0	$99,624	$99,624	$95,245	
Principal - 5/1	$170,000	$0	$170,000	$170,000	$175,000	
Speclal Call - 5/1

Series 2016 A2 - Revenue Bonds	$0	$0	$20,000	$20,000	$0	
Interest -11/1		$20,875	$20,875	$0	$20,875	$20,875	
Interest - 5/1		$20,875	$0	$20,875	$20,875	$20,875	
 	TOTAL EXPENDITURES		$1,515,586	$407,793	$1,237,793	$1,645,586	$1,507,409

 	
EXCESS REVENUES/(EXPENDITURES)	$429,626	$1,418,549	!$1,032,061)	$386,488	$394,000

Carry Foiward is net of Reserve requirement

Total	Debt Gross Per
Units	Unit Tax Roll

Gross
Assessment

Net
Assessment

Platted Lots - Full Debt Platted Lots - No 2005A Debt Platted Lot - Partial
Total Platted

Interest 11/1/2020:

	A1 Refunding	$181,703	
1072	$1,470.05	$1,575,894	$1,481,340	A1 Revenue	$57,281	
59	$146.87	$8,665	$8,145	A2 Refunding	$91,439	
1	$597.53	$598	$562	A2 Revenue	$20 875	
1,132		$1,585,156	$1,490,047		$351,298	

7

South Village	Amortization Schedule

11/1/18	$	12,785,000.00	2.00%	
$	$ 195,012.50	
$	195,012.50	
5/1/19	$	12,785,000.00	2.00%	$	600,000	$ 195,012.50		
11/1/19	$	12,185,000.00	2.00%	$	$ 189,012.50	$	984,025.00	
5/1/20	$	12,185,000.00	2.00%	$	615,000	$ 189,012.50		
11/1/20	$	11,570,000.00	2.00%	$	$ 182,862.50	$	986,875.00	
5/1/21	$	11,570,000.00	2.00%	$	625,000	$ 182,862.50		
11/1/21	$	10,945,000.00	2.00%	$	$ 176,612.50	$	984,475.00	
5/1/22	$	10,945,000.00	2.00%	$	640,000	$ 176,612.50		
11/1/22	$	10,305,000.00	2.13%	$	$ 169,812.50	$	986,425.00	
5/1/23	$	10,305,000.00	2.13%	$	655,000	$ 169,812.50		
11/1/23	$	9,650,000.00	2.38%	$	$ 162,034.38	$	986,846.88	
5/1/24	$	9,650,000.00	2.38%	$	670,000	$ 162,034.38		
11/1/24	$	8,980,000.00	2.50%	$	$ 153,659.38	$	985,693.76	
5/1/25	$	8,980,000.00	2.50%	$	685,000	$ 153,659.38		
11/1/25	$	8,295,000.00	2.75%	$	$ 144,240.63	$	982,900.01	
5/1/26	$	8,295,000.00	2.75%	$	705,000	$ 144,240.63		
11/1/26	$	7,590,000.00	3.00%	$	$ 133,665.63	$	982,906.26	
5/1/27	$	7,590,000.00	3.00%	$	730,000	$ 133,665.63		
11/1/27	$	6,860,000.00	3.25%	$	$ 121,803.13	$	985,468.76	
5/1/28	$	6,860,000.00	3.25%	$	755,000	$ 121,803.13		
11/1/28	$	6,105,000.00	3.50%	$	$ 108,590.63	$	985,393.76	
5/1/29	$	6,105,000.00	3.50%	$	780,000	$ 108,590.63		
11/1/29	$	5,325,000.00	3.50%	$	$	94,940.63	$	983,531.26	
5/1/30	$	5,325,000.00	3.50%	$	810,000	$	94,940.63		
11/1/30	$	4,515,000.00	3.50%	$	$	80,765.63	$	985,706.26	
5/1/31	$	4,515,000.00	3.50%	$	840,000	$	80,765.63		
11/1/31	$	3,675,000.00	3.50%	$	$	66,065.63	$	986,831.26	
5/1/32	$	3,675,000.00	3.50%	$	870,000	$	66,065.63		
11/1/32	$	2,805,000.00	3.63%	$	$	50,840.63	$	986,906.26	
5/1/33	$	2,805,000.00	3.63%	$	900,000	$	50,840.63		
11/1/33	$	1,905,000.00	3.63%	$	$	34,528.13	$	985,368.76	
5/1/34	$	1,905,000.00	3.63%	$	935,000	$	34,528.13		
11/1/34	$	970,000.00	3.63%	$	$	17,581.25	$	987,109.38	
5/1/35	$	970,000.00	3.63%	$	970,000	$	17,581.25		
	 	$		 	$	987,581.25 	
 	Total		$ 12,785,000.00	$4,164,056.36	$	16,949,056.36	

**Revised 5/1/18			

Community Development District				Series 2016 A1, Refunding Bonds DATE	BALANCE	RATE	PRINCIPAL	 INTEREST	TOTAL	

8

South Village	Amortization Schedule

1

Community Development District	Series 2016 A1

Revenue Bonds

DATE	BALANCE	RATE	PRINCIPAL	INTEREST	TOTAL	
11/1/18	$	3,055,000.00	3.75%	$	$	57,281.25	$	57,281.25	
5/1/19	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/19	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/20	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/20	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/21	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/21	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/22	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/22	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/23	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/23	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/24	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/24	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/25	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/25	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/26	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/26	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/27	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/27	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/28	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/28	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/29	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/29	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/30	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/30	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/31	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/31	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/32	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/32	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/33	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/33	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/34	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/34	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/35	$	3,055,000.00	3.75%	$	$	57,281.25		
11/1/35	$	3,055,000.00	3.75%	$	$	57,281.25	$	114,562.50	
5/1/36	$	3,055,000.00	3.75%	$	980,000	$	57,281.25		
11/1/36	$	2,075,000.00	3.75%	$	$	38,906.25	$	1,076,187.50	
5/1/37	$	2,075,000.00	3.75%	$	1,020,QOO	$	38,906.25		
11/1/37	$	1,055,000.00	3.75%	$	$	19,781.25	$	1,078,687.50	
5/1/38	$	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	

9

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

DATE	BALANCE	RATE	PRINCIPAL	INTEREST	TOTAL	
11/1/18	$ 4,260,000.00	4.35%	$	$	99,624.38	$	99,624.38	
5/1/19	$ 4,260,000.00	4.35%	$	170,000	$	99,624.38		
11/1/19	$ 4,090,000.00	4.35%	$	$	95,926.88	$	365,551.26	
5/1/20	$ 4,090,000.00	4.35%	$	180,000	$	95,926.88		
11/1/20	$ 3,910,000.00	4.35%	$	$	92,011.88	$	367,938.76	
5/1/21	$ 3,910,000.00	4.35%	$	185,000	$	92,011.88		
11/1/21	$ 3,725,000.00	4.35%	$	$	87,988.13	$	365,000.01	
5/1/22	$ 3,725,000.00	4.35%	$	195,000	$	87,988.13		
11/1/22	$ 3,530,000.00	4.35%	$	$	83,746.88	$	366,735.01	
5/1/23	$ 3,530,000.00	4.35%	$	205,000	$	83,746.88		
11/1/23	$ 3,325,000.00	4.35%	$	$	79,288.13	$	368,035.01	
5/1/24	$ 3,325,000.00	4.35%	$	215,000	$	79,288.13		
11/1/24	$ 3,110,000.00	4.35%	$	$	74,611.88	$	368,900.01	
5/1/25	$ 3,110,000.00	4.35%	$	225,000	$	74,611.88		
11/1/25	$ 2,885,000.00	4.35%	$	$	69,718.13	$	369,330.01	
5/1/26	$ 2,885,000.00	4.35%	$	230,000	$	69,718.13		
11/1/26	$ 2,655,000.00	4.35%	$	$	64,715.63	$	364,433.76	
5/1/27	$ 2,655,000.00	4.88%	$	240,000	$	64,715.63		
11/1/27	$ 2,415,000.00	4.88%	$	$	58,865.63	$	363,581.26	
5/1/28	$ 2,415,000.00	4.88%	$	255,000	$	58,865.63		
11/1/28	$ 2,160,000.00	4.88%	$	$	52,650.00	$	366,515.63	
5/1/29	$ 2,160,000.00	4.88%	$	265,000	$	52,650.00		
11/1/29	$ 1,895,000.00	4.88%	$	$	46,190.63	$	363,840.63	
5/1/30	$ 1,895,000.00	4.88%	$	280,000	$	46,190.63		
11/1/30	$ 1,615,000.00	4.88%	$	$	39,365.63	$	365,556.26	
5/1/31	$ 1,615,000.00	4.88%	$	295,000	$	39,365.63		
11/1/31	$ 1,320,000.00	4.88%	$	$	32,175.00	$	366,540.63	
5/1/32	$ 1,320,000.00	4.88%	$	305,000	$	32,175.00		
11/1/32	$ 1,015,000.00	4.88%	$	$	24,740.63	$	361,915.63	
5/1/33	$ 1,015,000.00	4.88%	$	320,000	$	24,740.63		
11/1/33	$	695,000.00	4.88%	$	$	16,940.63	$	361,681.26	
5/1/34	$	695,000.00	4.88%	$	340,000	$	16,940.63		
11/1/34	$	355,000.00	4.88%	$	$	8,653.13	$	365,593.76	
5/1/35	$	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

10

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

 	DATE	BALANCE	RATE		PRINCIPAL	INTEREST	TOTAL	

11/1/18	$ 835,000.00	5.00%	$	$	20,875.00	$	20,875.00	
5/1/19	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/19	$ 835,000.00	5.00%	$	$	20,875.00	$	41,750.00	
5/1/20	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/20	$ 835,000.00	5.00%	$	$	20,875.00	$	41,750.00	
5/1/21	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/21	$ 835,000.00	5.00%	$	$	20,875.00	$	41,750.00	
5/1/22	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/22	$ 835,000.00	5.00%	$	$	20,875.00	$	41,750.00	
5/1/23	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/23	$ 835,000.00	5.00%	$	$	20,875.00	$	41,750.00	
5/1/24	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/24	$ 835,000.00	5.00%	$	$	20,875.00	$	41,750.00	
5/1/25	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/25	$ 835,000.00	5.00%	$	$	20,875.00	$	41,750.00	
5/1/26	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/26	$ 835,000.00	5.00%	$	$	20,875.00	$	41,750.00	
5/1/27	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/27	$ 835,000.00	5.00%	$	$	20,875.00	$	41,750.00	
5/1/28	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/28	$ 835,000.00	5.00%	$	$	20,875.00	$	41,750.00	
5/1/29	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/29	$ 835,000.00	5.00%	$	$	20,875.00	$	41,750.00	
5/1/30	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/30	$ 835,000.00	5.00%	$	$	20,875.00	$	41,750.00	
5/1/31	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/31	$ 835,000.00	5.00%	$	$	20,875.00	$	41,750.00	
5/1/32	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/32	$ 835,000.00	5.00%	$	$	20,875.00	$	41,750.00	
5/1/33	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/33	$ 835,000.00	5.00%	$	$	20,875.00	$	41,750.00	
5/1/34	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/34	$ 835,000.00	5.00%	$	$	20,875.00	$	41,750.00	
5/1/35	$ 835,000.00	5.00%	$	$	20,875.00		
11/1/35	$ 835,000.00	5.00%	$	$	20,875.00	$	41,750.00	
5/1/36	$ 835,000.00	5.00%	$	265,000	$	20,875.00		
11/1/36	$ 570,000.00	5.00%	$	$	14,250.00	$	300,125.00	
5/1/37	$ 570,000.00	5.00%	$	280,000	$	14,250.00		
11/1/37	$ 290,000.00	5.00%	$	$	7,250.00	$	301,500.00	
5/1/38	$ 290,000.00	5.00%	$	290,000
$	$	7,250.00	
$	297,250.00	

 	Total		 	$  835,000.00	$	794,500.00	$	1,629,500.00 

11

South Village
Community Development District	Debt Service Fund
Series 2016 A3

	Adopted
Budget	Actual
thru	Projected
Next		Total
Projected at		Approved
Budget		
Description				 	FY2019		4/30/19	 	5 Months			9/30/19		FY2020    			
Revenues												
Cany Foiward Surplus				$315,957	$300,814	$0		
$300,814		$337,610		
Special Assessment				$396,452	$325,339	$71,113		$396,452		$396,452		
Prepayments				$0	$126,508	$0		$126,508		$0		
Interest Income				$0	$4,724	$325		$5,049		$0		
TOTAL REVENUES				$712,409	$757,385	$71,438		$828,823		$734,062		

"'

Expenditures

Series 2016 A3 - Refunding Bonds
Interest -11/1	$86,375	$85,400	$0	$85,400	$76,650
Special Ca!l -11/1	$20,000	$0	$0	$0	$0
Interest - 2/1	$86,375	$600	$0	$600	$0
Special Call - 2/1	$0	$40,000	$0	$40,000	$0
Principal - 5/1	$0	$0	$100,000	$100,000	$105,000
Interest - 5/1	$86,375	$0	$79,963	$79,963	$76,650 Special Call - 5/1		$0	$0	$75,000	$75,000		$0

Series 2016 A3 - Revenue Bonds

Interest -11/1	$55,125	$55,125	$0	$55,125	$53,350
Interest - 5/1	$55,125	$0	$55,125	$55,125	$53,350
      TOTAL EXPENDITURES		$389,375	$181,125	$310,088	$491,213	$365,000

EXCESS REVENUES/(EXPENDITURES)	$323,034	$576,260	($236,6,iO)	$337,610	$369,062
 	
'"	Carry Forward is net of Reserve requirement

Total
Units	Debt Gross Per	Gross	Net
Unit Tax Roll	Assessment	Assessment	

Platted Lots - Full Debi	$2,140.90
Total Platted	 	J_QL	
$421,757	$396,452	
	$421,757	$396 452	

Interest 11/1/2020:

A3 Refunding	$73,763
A3 Revenue	$53 350
$127,113

12

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

DATE	BALANCE	RATE	PRINCIPAL	INTEREST	TOTAL	
11/1/18	$	2,980,000.00	5.50%	$	$	86,375.00	$	86,375.00	
5/1/19	$	2,980,000.00	5.50%	$	105,000	$	86,375.00		
11/1/19	$	2,875,000.00	5.50%	$	$	83,487.50	$	274,862.50	
5/1/20	$	2,875,000.00	5.50%	$	115,000	$	83,487.50		
11/1/20	$	2,760,000.00	5.50%	$	$	80,325.00	$	278,812.50	
5/1/21	$	2,760,000.00	5.50%	$	120,000	$	80,325.00		
11/1/21	$	2,640,000.00	5.50%	$	$	77,025.00	$	277,350.00	
5/1/22	$	2,640,000.00	5.50%	$	125,000	$	77,025.00		
11/1/22	$	2,515,000.00	5.50%	$	$	73,587.50	$	275,612.50	
5/1/23	$	2,515,000.00	5.50%	$	135,000	$	73,587.50		
11/1/23	$	2,380,000.00	5.50%	$	$	69,875.00	$	278,462.50	
5/1/24	$	2,380,000.00	5.50%	$	140,000	$	69,875.00		
11/1/24	$	2,240,000.00	5.50%	$	$	66,025.00	$	275,900.00	
5/1/25	$	2,240,000.00	5.50%	$	150,000	$	66,025.00		
11/1/25	$	2,090,000.00	5.50%	$	$	61,900.00	$	277,925.00	
5/1/26	$	2,090,000.00	5.50%	$	155,000	$	61,900.00		
11/1/26	$	1,935,000.00	5.50%	$	$	57,637.50	$	274,537.50	
5/1/27	$	1,935,000.00	5.50%	$	165,000	$	57,637.50		
11/1/27	$	1,770,000.00	6.00%	$	$	53,100.00	$	275,737.50	
5/1/28	$	1,770,000.00	6.00%	$	180,000	$	53,100.00		
11/1/28	$	1,590,000.00	6.00%	$	$	47,700.00	$	280,800.00	
5/1/29	$	1,590,000.00	6.00%	$	190,000	$	47,700.00		
11/1/29	$	1,400,000.00	6.00%	$	$	42,000.00	$	279,700.00	
5/1/30	$	1,400,000.00	6.00%	$	200,000	$	42,000.00		
11/1/30	$	1,200,000.00	6.00%	$	$	36,000.00	$	278,000.00	
5/1/31	$	1,200,000.00	6.00%	$	210,000	$	36,000.00		
11/1/31	$	990,000.00	6.00%	$	$	29,700.00	$	275,700.00	
5/1/32	$	990,000.00	6.00%	$	225,000	$	29,700.00		
11/1/32	$	765,000.00	6.00%	$	$	22,950.00	$	277,650.00	
5/1/33	$	765,000.00	6.00%	$	240,000	$	22,950.00		
11/1/33	$	525,000.00	6.00%	$	$	15,750.00	$	278,700.00	
5/1/34	$	525,000.00	6.00%	$	255,000	$	15,750.00		
11/1/34	$	270,000.00	6.00%	$	$	8,100.00	$ 278,850.00	
5/1/35	$	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	

*'Revised 5/1/18

13

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

DATE	BALANCE	RATE	PRINCIPAL	INTEREST	TOTAL	
11/1/18	$	2,205,000.00	5.00%	$	$	55,125.00	$	55,125.00	
5/1/19	$	2,205,000.00	5.00%	$	$	55,125.00		
11/1/19	$	2,205,000.00	5.00%	$	$	55,125.00	$	110,250.00	
5/1/20	$	2,205,000.00	5.00%	$	$	55,125.00		
11/1/20	$	2,205,000.00	5.00%	$	$	55,125.00	$	110,250.00	
5/1/21	$	2,205,000.00	5.00%	$	$	55,125.00		
11/1/21	$	2,205,000.00	5.00%	$	$	55,125.00	$	110,250.00	
5/1/22	$	2,205,000.00	5.00%	$	$	55,125.00		
11/1/22	$	2,205,000.00	5.00%	$	$	55,125.00	$	110,250.00	
5/1/23	$	2,205,000.00	5.00%	$	$	55,125.00		
11/1/23	$	2,205,000.00	5.00%	$	$	55,125.00	$	110,250.00	
5/1/24	$	2,205,000.00	5.00%	$	$	55,125.00		
11/1/24	$	2,205,000.00	5.00%	$	$	55,125.00	$	110,250.00	
5/1/25	$	2,205,000.00	5.00%	$	$	55,125.00		
11/1/25	$	2,205,000.00	5.00%	$	$	55,125.00	$	110,250.00	
5/1/26	$	2,205,000.00	5.00%	$	$	55,125.00		
11/1/26	$	2,205,000.00	5.00%	$	$	55,125.00	$	110,250.00	
5/1/27	$	2,205,000.00	5.00%	$	$	55,125.00		
11/1/27	$	2,205,000.00	5.00%	$	$	55,125.00	$	110,250.op	
5/1/28	$	2,205,000.00	5.00%	$	$	55,125.00		
11/1/28	$	2,205,000.00	5.00%	$	$	55,125.00	$	110,250.00	
5/1/29	$	2,205,000.00	5.00%	$	$	55,125.00		
11/1/29	$	2,205,000.00	5.00%	$	$	55,125.00	$	110,250.00	
5/1/30	$	2,205,000.00	5.00%	$	$	55,125.00		
11/1/30	$	2,205,000.00	5.00%	$	$	55,125.00	$	110,250.00	
5/1/31	$	2,205,000.00	5.00%	$	$	55,125.00		
11/1/31	$	2,205,000.00	5.00%	$	$	55,125.00	$	110,250.00	
5/1/32	$	2,205,000.00	5.00%	$	$	55,125.00		
11/1/32	$	2,205,000.00	5.00%	$	$	55,125.00	$	110,250.00	
5/1/33	$	2,205,000.00	5.00%	$	$	55,125.00		
11/1/33	$	2,205,000.00	5.00%	$	$	55,125.00	$	110,250.00	
5/1/34	$	2,205,000.00	5.00%	$	$	55,125.00		
11/1/34	$	2,205,000.00	5.00%	$	$	55,125.00	$	110,250.00	
5/1/35	$	2,205,000.00	5.00%	$	$	55,125.00		
11/1/35	$	2,205,000.00	5.00%	$	$	55,125.00	$	110,250.00	
5/1/36	$	2,205,000.00	5.00%	$	155,000	$	55,125.00		
11/1/36	$	2,050,000.00	5.00%	$	$	51,250.00	$	261,375.00	
5/1/37	$	2,050,000.00	5.00%	$	160,000	$	51,250.00		
11/1/37	$	1,890,000.00	5.00%	$	$	47,250.00	$	258,500.00	
5/1/38	$	1,890,000.00	5.00%	$	170,000	$	47,250.00		
11/1/38	$	1,720,000.00	5.00%	$	$	43,000.00	$	260,250.00	
5/1/39	$	1,720,000.00	5.00%	$	180,000	$	43,000.00		
11/1/39	$	1,540,000.00	5.00%	$	$	38,500.00	$	261,500.00	
5/1/40	$	1,540,000.00	5.00%	$	190,000	$	38,500.00		
11/1/40	$	1,350,000.00	5.00%	$	$	33,750.00	$	262,250.00	
5/1/41	$	1,350,000.00	5.00%	$	195,000	$	33,750.00		
11/1/41	$	1,155,000.00	5.00%	$	$	28,875.00	$	257,625.00	
5/1/42	$	1,155,000.00	5.00%	$	210,000	$	28,875.00		
11/1/42	$	945,000.00	5.00%	$	$	23,625.00	$	262,500.00	
5/1/43	$	945,000.00	5.00%	$	220,000	$	23,625.00		
11/1/43	$	725,000.00	5.00%	$	$	18,125.00	$	261,750.00	
5/1/44	$	725,000.00	5.00%	$	230,000	$	18,125.00		
11/1/44	$	495,000.00	5.00%	$	$	12,375.00	$	260,500.00	
5/1/45	$	495,000.00	5.00%	$	240,000	$	12,375.00		
11/1/45	$	255,000.00	5.00%	$	$	6,375.00	$	258,750.00	
5/1/46	$	255,000.00	5.00%	$	255,000	$	6,375.00	$	261,375.00	

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

14

South Village
Community Development District	Debt Service Fund
Series 2019

	Proposed Budget		Actual
thru		Projected Next		Total Projected at		Approved Budget	
Description		FY2019		4/30/19		5 Months		9/30/19		FY2020	
Revenues											

,,,

,,,

Cany Forward Surplus	$0	$0	$0	$0	$136,273	
Special Assessment -A	$0	$0	$0	$0	$223,713	
Direct Assessments - B	$0	$0	$0	$0	$95,200	
Interest Income	$0	$748	$150	$898	$0	
TOTAL REVENUES	$0	$748	$150	$898	$455,186	
Expenditures

Series 2019A
Interest - 11/1	$0	$0	$0	$0	$87,940
Principal - 5/1	$0	$0	$0	$0	$45,000
Interest - 5/1	$0	$0	$41,039	$41,039	$87,405
Series 2019B
lnterest-1'1/1	$0	$0	$22,213	$22,213	$47,600
Interest - 5/1	$0	$0	$0	$0	$47,600

TOTAL EXPENDITURES	$0	$0	$63,252	$63,252	$315,545

Other Sourcosl(Usos)

Bond Proceeds	$254,722	$254,722	$0	$254,722	$0

TOTAL OTHER	$254,722	$254,722	$0	$254,722	$0

EXCESS REVENUES/(EXPENDITURES)	$254,722	$255,470	($63,102)	$192,368	$139,641

Carry Forward is net of Reserve requirement

Total
Units	Debt Gross Per	Gross	Net
Unit Tax Roll	Assessment	Assessment	

Platted Lots - Full Debt	_1§1.	$1,469.09
Total Platted	 	ill_	
$237,993	$223,713	
	$237,993	$223,713	

Interest 11/1/2020:

2019A	$79,963
2019B	$47 600
$127,563

15

South Village	Amortization  Schedule
Community Development District	Series 2019A, Capital Improvement Bonds

DATE	BALANCE	PRINCIPAL	INTEREST	TOTAL	
5/1/19	$	3,255,000.00	$	$	41,038.66	$	41,038.66	
11/1/19	$	3,255,000.00	$	$	87,940.01	$	87,940.01	
5/1/20	$	3,255,000.00	$	45,000	$	87,405.63		
11/1/20	$	3,210,000.00	$	$	87,405.63	$	219,811.25	
5/1/21	$	3,210,000.00	$	50,000	$	86,277.50		
11/1/21	$	3,160,000.00	$	$	86,277.50	$	222,555.00	
5/1/22	$	3,160,000.00	$	50,000	$	85,090.00		
11/1/22	$	3,110,000.00	$	$	85,090.00	$	220,180.00	
5/1/23	$	3,110,000.00	$	55,000	$	83,843.13		
11/1/23	$	3,055,000.00	$	$	83,843.13	$	222,686.25	
5/1/24	$	3,055,000.00	$	55,000	$	82,536.88		
11/1/24	$	3,000,000.00	$	$	82,536.88	$	220,073.75	
5/1/25	$	3,000,000.00	$	60,000	$	81,171.25		
11/1/25	$	2,940,000.00	$	$	81,171.25	$	222,342.50	
5/1/26	$	2,940,000.00	$	60,000	$	79,746.25		
11/1/26	$	2,880,000.00	$	$	79,746.25	$	219,492.50	
5/1/27	$	2,880,000.00	$	65,000	$	78,261.88		
11/1/27	$	2,815,000.00	$	$	78,261.88	$	221,523.75	
5/1/28	$	2,815,000.00	$	70,000	$	76,658.75		
11/1/28	$	2,745,000.00	$	$	76,658.75	$	223,317.50	
5/1/29	$	2,745,000.00	$	70,000	$	74,996.25		
11/1/29	$	2,675,000.00	$	$	74,996.25	$	219,992.50	
5/1/30	$	2,675,000.00	$	75,000	$	73,143.13		
11/1/30	$	2,600,000.00	$	$	73,143.13	$	221,286.25	
5/1/31	$	2,600,000.00	$	80,000	$	71,031.25		
11/1/31	$	2,520,000.00	$	$	71,031.25	$	222,062.50	
5/1/32	$	2,520,000.00	$	85,000	$	68,783.13		
11/1/32	$	2,435,000.00	$	$	68,783.13	$	222,566.25	
5/1/33	$	2,435,000.00	$	90,000	$	66,398.75		
11/1/33	$	2,345,000.00	$	$	66,398.75	$	222,797.50	
5/1/34	$	2,345,000.00	$	95,000	$	63,878.13		
11/1/34	$	2,250,000.00	$	$	63,878.13	$	222,756.25	
5/1/35	$	2,250,000.00	$	100,000	$	61,221.27		
11/1/35	$	2,150,000.00	$	$	61,221.27	$	222,442.54	
5/1/36	$	2,150,000.00	$	105,000	$	58,428.13		
11/1/36	$	2,045,000.00	$	$	58,428.13	$	221,856.25	
5/1/37	$	2,045,000.00	$	110,000	$	55,498.75		
11/1/37	$	1,935,000.00	$	$	55,498.75	$	220,997.50	
5/1/38	$	1,935,000.00	$	115,000	$	52,433.13		
11/1/38	$	1,820,000.00	$	$	52,433.13	$	219,866.25	
5/1/39	$	1,820,000.00	$	125,000	$	49,163.13		
11/1/39	$	1,695,000.00	$	$	49,163.13	$	223,326.25	
5/1/40	$	1,695,000.00	$	130,000	$	45,640.00		
11/1/40	$	1,565,000.00	$	$	45,640.00	$	221,280.00	
5/1/41	$	1,565,000.00	$	140,000	$	41,860.00		
11/1/41	$	1,425,000.00	$	$	41,860.00	$	223,720.00	
5/1/42	$	1,425,000.00	$	145,000	$	37,870.00		
11/1/42	$	1,280,000.00	$	$	37,870.00	$	220,740.00	
5/1/43	$	1,280,000.00	$	155,000	$	33,670.00		
11/1/43	$	1,125,000.00	$	$	33,670.00	$	222,340.00	
5/1/44	$	1,125,000.00	$	165,000	$	29,190.00		
11/1/44	$	960,000.00	$	$	29,190.00	$	223,380.00	
5/1/45	$	960,000.00	$	170,000	$	24,500.00		
11/1/45	$	790,000.00	$	$	24,500.00	$	219,000.00	
5/1/46	$	790,000.00	$	180,000	$	19,600.00		
11/1/46	$	610,000.00	$	$	19,600.00	$	219,200.00	
5/1/47	$	610,000.00	$	190,000	$	14,420.00		
11/1/47	$	420,000.00	$	$	14,420.00	$	218,840.00	
5/1/4'8	$	420,000.00	$	205,000	$	8,890.00		
11/1/48	$	215,000.00	$	$	8,890.00	$	222,780.00	
5/1/49	$	215,000.00	$	215,000	$	6,020.00	$	221,020.00	

Total	$	3,255,000.00	$	3,518,211.21	$	6,773,211.21

16

South Village
Community Development District

Amortization Schedule
Series 2019B,  Capital Improvement Bonds

 	DATE		BALANCE		RATE		PRINCIPAL		INTEREST		TOTAL		
5/1119		$	1,700,000.00				$		$	22,213.33		$	22,213.33		
11/1/19		$	1,700,000.00		5.60%		$		$	47,600.00		$	47,600.00		
5/1/20		$	1,700,000.00		5.60%		$		$	47,600.00				
11/1120		$	1,700,000.00		5.60%		$		$	47,600.00		$	95,200.00		
5/1/21		$	1,700,000.00		5.60%		$		$	47,600.00				
11/1/21		$	1,700,000.00		5.60%		$		$	47,600.00		$	95,200.00		
5/1122		$	1,700,000.00		5.60%		$		$	47,600.00				
1111122		$	1,700,000.00		5.60%		$		$	47,600.00		$	95,200.00		
511123		$	1,700,000.00		5.60%		$		$	47,600.00				
1111123		$	1,700,000.00		5.60%		$		$	47,600.00		$	95,200.00		
511124		$	1,700,000.00		5.60%		$		$	47,600.00				
11/1124		$	1,700,000.00		5.60%		$		$	47,600.00		$	95,200.00		
511/25		$	1,700,000.00		5.60%		$		$	47,600.00				
11/1/25		$	1,700,000.00		5.60%		$		$	47,600.00		$	95,200.00		
5/1/26		$	1,700,000.00		5.60%		$		$	47,600.00				
1111/26		$	1,700,000.00		5.60%		$		$	47,600.00		$	95,200.00		
5/1/27		$	1,700,000.00		5.60%		$		$	47,600.00				
11/1/27		$	1,700,000.00		5.60%		$		$	47,600.00		$	95,200.00		
5/1128		$	1,700,000.00		5.60%		$	1,700,000.00		$	47,600.00		$	1,747,600.00		
 	Total							$	1 700 000.00		$	879 013.33		$	2 579 013.33		

17

South Village - EL Resident Center		
Budget Comparisions		
Departments	18/19 Final Budget	18/19 Projections	19/20 Proposed Budget	
Cafe	(12,512)	(7,359)	(515)	
Pool	(302,238)	(212,078)	(221,449)	
Tennis	(238,611)	(220,016)	(236,819)	
Lake House/Kids	(16,104)	(7,703)	(13,923)	
Building Maintenance
G&A	
(154,220)	(53,753)
(300,033)	(90,502)
(271,325)	
OPERATING NOi:	$	(723,685)	$	(800,942)	$	(834,533)	
ANNUAL ASSESSMENTS	$	728,973	$	728,973	$	858,741	
TOTAL NOi	$	5,288	$	(71,969)	$	24,208	
Additional Spend				
Not in Original Budget- From		$	23,000	$	4,000	
COD General Fund Transfer		53,753		
Tennis Maintance Staff/F/T Positions
General Maintenance Increase		10,000	30,000	
TOTAL	 	86,753	34,000 

Breakdown All Departments	2018/2019 Projections	2019/2020 Proposed	Variance
CAFE

Payroll	$	46,978    $	42,952    $	(4,026)
Expenses	$	23,398    $	23,083   $	(315)
$
Total

SWIM/POOL	$	70,376	$	66,035	$	(4,341)	
Payroll	$	154,020	$	162,845	$	8,825	
Expenses	$	105,663	$	107,430	$	1,767	
			$	
Total	$	259,683	$	270,275	$	10,592	
TENNIS				
Payroll	$	218,567	$	246,267	$	27,700	
Expenses	$	69,515	$	68,642	$	(873)	
			$	
Total	$	288,082	$	314,909	$	26,827	
KIDS CLUB/LAKE HOUSE				
Payroll	$	31,178	$	34,224	$	3,046	
Expenses	$	15,394	$	20,249	$	4,855	
			$	
Total	$	46,572   $	54,473   $	7,901

BUILDING MAINTENANCE				
Payroll	$	44,068	$	76,802	$	32,734	
Expenses	$	9,685	$	13,700	$	4,015	
Total	$	53,753	$	90,502	$	36,749	
G&A OPERATIONS				
Payroll	$	174,398	$	133,885	$	(40,513)	
Expenses	$	125,635	$	137,440	$	11,805	
Total	$	300,033	$	271,325	$	(28,708)	

TOTAL OPERATIONS				
Payroll	$	669,209	$	696,975	$	27,766	
Expenses	$	349,290	$	370,544	$	21,254	
Total	$	1,018,499	$	1,067,519	$	49,020	
VARIANCE REPORT	PAYROLL	EXPENSES	TOTAL	
STAFF INCREASES	$	7,500	YEAR-END INCENTIVE	$	10,000	
ALL F/T POSITIONS FILLED	$	18,000	MANAGEMENT INCREASE	$	1,500	
MEDICAL COST (NEW) MISC INCREASES	$
$	2,500	MARKETING EXPENSES	$	12,000	
Total	$	28,000		$	23,500	

$

$

$

South Village - EL Golf		
Budget Comparisions		
Departments	18/19 Final Budget	18/19 Projections	19/20 Proposed Budget	
Golf Operations	933,034	904,722	1,009,441	
F&B	(42,211)	(52,032)	(25,084)	
C&G	(814,525)	(797,935)	(819,590)	
Building Maintenance	(37,800)	(21,025)	(32,650)	
G&A	(371,350)	(337,988)	(390,185)	
OPERATING NOi:	$	(332,852)	$	(304,258)  $	(258,068)	
ANNUAL ASSESSMENTS	$	321,012	$	321,012   $	339,569	
TOTAL NOi	$	(11,840)	$	16,754   $	81,501	
Additional Spend			
Not in Original Budget- From			
CDD General Fund Transfer			
Clubhouse Maintance Staff		12,000	6,000	
C&G Staff Increase Budget			
TOTAL		 	12,000		6,000	

Breakdown All Departments	2018/2019 Projections	 	2019/2020 Proposed	 	Variance	

GOLF OPERATIONS

Payroll	$	275,856    $	275,185    $	(671)
Expenses	$	149,402    $	142,359    $	(7,043)
$

Payroll	$	497,862	$	499,868	$	2,006	
Expenses	$	89,856	$	84,802	$	(5,054)	
Total	$	S87,718	$	584,670	$	(3,048)	
C&G OPERATIONS				
Payroll	$	423,309	$	447,390	$	24,081	
Expenses	$	374,626	$	372,200	$	(2,426)	
			$	
Total	$	797,935	$	819,590	$	21,655	
BUILDING MAINT. OPERATIONS			
Payroll	$	17,275	$	20,700	$	3,425	
Expenses	$	3,750	$	11,950	$	8,200	
Total	$	21,025	$	32,650	$	11,625	

Total	$	425,258    $	417,544    $	(7,714) F&B OPERATIONS

$

$

G&A OPERATIONS				
Payroll	$	138,197	$	162,785	$	24,588	
Expenses	$	436,529	$	467,000	$	30,471	
Total	$	. 574,726	$	629,785	$
$	55,059	
TOTAL OPERATIONS				
Payroll	$	1,352,499	$	1,405,928	$	53,429	
Expenses	$	1,051,832	$	1,078,311	$	26,479	

Total		
$	2,404,331	
   $		2,484,239	$
$	79,908	
VARIANCE REPORT	PAYROLL	EXPENSES	TOTAL	
STAFF INCREASES	$	25,000	YEAR-ENO INCENTIVE	$	10,000	
ALL F/T POSITIONS FILLED	$	15,000	MANAGEMENT INCREASE	$	3,000	
MEDICAL COST (NEW)	$	5,000	RESIDENT APPRECIATION	$	14,000	
MISC INCREASES	$	9,000			
Total	$	54,000		$	27,000	

South Viii/age CDD
FY-2020 Capital Reserve Fund Budget

Description	Adopted FY19 Actual (4/30/lS Projected 9/30/19	Proposed FY20

REVENUES:		
Assessments	$250,416	$218,065	$250,416	$264,892	
Golf Initiation( 1)	$0	$29,500	$15,000	$30,000	
Phase 6 Lots( 2)	$0	$0	$0	$40,000	
Interest	$0	$383	$433	$1,250	
Carry Forward	$63,358	$154,301	$154,301	$135,000	
Total Revenues	$313,774	$402,249	$420,150	$471,142	

EXPENDITURES					
Capital R&R(3)	$250,000	$95,878	$247,500	$194,000	
Total Expenditur,	$250,000	$95,878	$247,500	$194,000	
Fund Balance	$63,774	$306,371	$172,650	$277,142	

Payment due of $500 upon sale or resale of lots within SVCDD
Payment due of $4,000 from developer upon sale of each Phase 6 lot to homebuilder or end user
Cost of repairs and replacement of capital assets